/raid1/www/Hosts/bankrupt/TCR_Public/231128.mbx
T R O U B L E D C O M P A N Y R E P O R T E R
Tuesday, November 28, 2023, Vol. 27, No. 331
Headlines
105-31 150TH: Secured Creditor Says Plan Not Feasible
117 SPENCER: Seeks Approval of Disclosure Statement
117 SPENCER: Unsecureds Owed $7K Will be Paid in Full in Plan
13111 WESTHEIMER: Court OKs Cash Collateral Access Thru Dec 20
25 JAY STREET: Seeks Cash Collateral Access
552 OVINGTON: Unsecureds Owed $2.2M be Paid From Available Cash
9301 CHEROKEE: Seeks to Hire FLP Law Group LLP as Counsel
AAD LOCKER: Wins Interim Cash Collateral Access
ALBANY DIOCESE: Seeks to Extend Plan Exclusivity to January 9, 2024
ALDO'S PAINTING: Court OKs Cash Collateral Access on a Final Basis
ALL DAY: $200MM Bank Debt Trades at 64% Discount
ALL FLORIDA SAFETY: Court OKs Interim Cash Collateral Access
ALPACKA GROUP: Seeks to Hire Binder & Malter LLP as Counsel
ALPACKA GROUP: Wins Interim Cash Collateral Access
ALPINE 4: Receives Notice From Nasdaq of Late Filing of Form 10-Q
ALPINE 4: Signs $32M Stock Purchase Agreement With Ionic Ventures
AMC ENTERTAINMENT: $2BB Bank Debt Trades at 19% Discount
AMERICANAS SA: Nears Deal with Banks to Restructure Debt
ARCHDIOCESE OF NY: Abuse Victims Group Wants Chubb Probed
ASTRO ONE: $525MM Bank Debt Trades at 40% Discount
ATLAS CAPITAL: Hits Chapter 11 Bankruptcy Protection
BANYAN CAY: Seeks to Hire Dimond Kaplan as Special Counsel
BISHOP OF SANTA ROSA: Committee Hires Stout as Valuation Expert
BMI MOTORS: Court OKs Cash Collateral Access Thru Dec 5
BMI MOTORS: Hires Latham Luna as Bankruptcy Counsel
BORREGO COMMUNITY: Jan. 8 Hearing on Committee-Backed Plan
BW HAMPTON: Court OKs Deal on Cash Collateral Access Thru Dec 31
CAPROCK LAND: Seeks Court Nod to Sell Cattle to 3 String
CARESTREAM DENTAL: $335MM Bank Debt Trades at 16% Discount
CELSIUS NETWORK: Will Raise Creditor Payouts in Chapter 11 Exit
CELULARITY INC: Gets Notice From Nasdaq Regarding Delayed Form 10-Q
CHEMICAL EXCHANGE: Hires Brinkman Law Group PC as Counsel
CHEMICAL EXCHANGE: Hires Jackson Walker as Local Counsel
COMMUTER ADVERTISING: Seeks Cash Collateral Access
COMPLETE COMPANIES: Hires Slocum Law as Special Counsel
CORE SCIENTIFIC: Dec. 22 Hearing on Plan & Disclosures
COUNTY INVESTMENT: Hires Tranzon Asset as Auctioneer
COUNTY INVESTMENT: Wins Cash Collateral Access Thru Dec 20
DENT TECH: Seeks 90-Day Extension to Confirm Plan
DIRECT TEXTILE: Wins Interim Cash Collateral Access
DIVERSIFIED PANELS: Seeks Cash Collateral Access
DMG SECURITY: Court OKs Cash Collateral Access Thru Dec 5
DMVH LLC: Hires Hurtik Law & Associates as Legal Counsel
DOLPHIN ENTERTAINMENT: Stockholders Elect Seven Directors
EASTGATE WHITEHOUSE: Creditor Seeks Approval of Disclosures
EASTGATE WHITEHOUSE: Secured Lender Proposes Plan
EDB PARENT: Goldman Sachs Marks $7.5MM Loan at 65% Off
ELMWOOD HEIGHTS: Hires Davidoff Hutcher as Legal Counsel
EMERGENT BIOSOLUTIONS: Gets NYSE Notice of Delayed Form 10-Q Filing
EMPLOYBRIDGE LLC: $925MM Bank Debt Trades at 18% Discount
ESCEE DELIVERY: Seeks to Hire Lane Law Firm PLLC as Counsel
EVOLUTION MICRO: Court OKs Cash Collateral Access Thru Dec 13
EXOD ARCH: Case Summary & Three Unsecured Creditors
EYECARE PARTNERS: $440MM Bank Debt Trades at 47% Discount
FAT DADDY: Court OKs Cash Collateral Access Thru Nov 29
FIG & FENNEL: Wins Cash Collateral Access Thru Dec 15
FOX SUBACUTE: Clara Burke and Warrington Propose Liquidating Plan
FRANCHISE GROUP: $1BB Bank Debt Trades at 23% Discount
FRANCHISE GROUP: $300MM Bank Debt Trades at 23% Discount
FREE SPEECH: Hook Shooting Victims Offer 2 Ways Out of Chapter 11
FREEDOM PLUMBERS: Wins Cash Collateral Access on Final Basis
FREIGHT MASTER: Hires Modestas Law Offices P.C. as Counsel
GABRIEL CUSTOM: Jan. 4 Hearing on Disclosure Statement
GALLUS DETOX: Court OKs Interim Cash Collateral Access
GDB HOLDINGS: Seeks Cash Collateral Access
GENESIS GLOBAL: Files Amended Chapter 11 Plan
GENESIS GLOBAL: Wants to Clawback $689 Million from Former Partner
GET GREEN: Wins Cash Collateral Access on Final Basis
GOLYAN ENTERPRISES: Court OKs Cash Collateral Access Thru Dec 5
GOODLIFE PHYSICAL: Court OKs Deal on Cash Collateral Access
GOODLIFE PHYSICAL: Has Deal on Cash Collateral Access
GOVERNMENTJOBS.COM: 90% Markdown for $1.7MM Goldman Sachs MML Loan
GRIES ASSOCIATES: Court OKs Cash Collateral Access Thru Dec 5
GTT COMMUNICATIONS: $350MM Bank Debt Trades at 35% Discount
H&B AUTO: Seeks to Use SBA's Cash Collateral
H2O COMMERCIAL: Court OKs Cash Collateral Access, on a Final Basis
HERITAGE POWER: Wants Texas & PBGC Claims Tossed
ICIMS INC: 87% Markdown for $1.7MM Goldman Sachs MML Loan
INTELLIGENT MEDICAL: 76% Markdown on $899,000 GS MML Loan
INTELLIGENT MEDICAL: 87% Markdown on $400,000 GS MML Loan
IRONNET INC: Wants Chapter 11 Plan Approved by January 2024
JAG CONTRACTORS: Hires Arthur Lander CPA PC as Accountant
JL DANIELS: Seeks to Hire Gary Law LLC as Counsel
KASEYA INC: 95% Markdown for Goldman Sachs Loan
KAWA SOLAR: Goldman Sachs Marks $3.9M Loan at 73% Off
KOFFLER PROPERTIES: Seeks Cash Collateral Access
KORO KORO: Court OKs Interim Cash Collateral Access
LEAFBUYER TECHNOLOGIES: Incurs $398,598 Net Loss in First Quarter
LEMONKIND LLC: Court OKs Interim Cash Collateral Access
LIVIE AND LUCA: Hires Anthony & Partners LLC as Special Counsel
LOYALTY EXPRESS: Court OKs Interim Cash Collateral Access
MADERA COMMUNITY: Creditors Committee Proposes Liquidating Plan
MADERA COMMUNITY: Wins Cash Collateral Access Thru Dec 15
MAISON DRAKE: Court OKs Cash Collateral Access Thru Dec 5
MARIO THE BAKER: Court OKs Cash Collateral Access on a Final Basis
MERCHANTWISE SOLUTIONS: Goldman Sachs Marks $5.4MM Loan at 18% Off
MERCY HOSPITAL: Committee Hires Day Rettig as Counsel
METCALF ANTIQUE: Court OKs Cash Collateral Access on Final Basis
MICROVISION INC: Directors, Executives to Buy $100K Common Shares
MILLTOO LLC: Seeks Cash Collateral Access
NATURE COAST: Has $6.9MM Deal to Sell Property to Villasis
NEPTUNE WELLNESS: Alterna Agrees to Buy Unit's Accounts Receivables
OFFSHORE SPARS: Seeks to Sell Most Assets to Offshore Acquisition
OUTFRONT MEDIA: Issues $450-Mil. Senior Secured Notes Due 2031
PB MICHIGAN: Seeks OK to Sell Pure Barre Assets in Birmingham
PETROLIA ENERGY: Posts $490K Net Loss in Third Quarter
PHASEBIO PHARMACEUTICALS: Panel Hires Chipman as Special Counsel
PIVOT3 INC: Secured Party Sets Dec. 15 Auction for All Assets
POTRERO MEDICAL: Starts Subchapter V Bankruptcy
POWER BRANDS: Committee Hires Grobstein Teeple as Accountant
PRIZE MANAGEMENT: Court OKs Interim Cash Collateral Access
QUALITY IRON: Court OKs Interim Cash Collateral Access
R L BURNS: Wins Cash Collateral Access Thru Jan 2024
RECORDED BOOKS: Goldman Sachs MML Marks $749,000 Loan at 46% Off
RITE AID: $425MM Bank Debt Trades at 22% Discount
RIVERBED TECHNOLOGY: $375MM Bank Debt Trades at 31% Discount
ROOF HEROES: Wins Interim Cash Collateral Access
RUBY GORDON: Hits Chapter 11 Bankruptcy Protection
RVR DEALERSHIP: $796MM Bank Debt Trades at 19% Discount
S VALLEY: Court OKs Cash Collateral Access Thru Feb 2024
SCHON ELISE: Seeks to Extend Plan Exclusivity to December 20
SDPBC ACQUISITION: Court OKs Cash Collateral Access Thru Dec 21
SINTX TECHNOLOGIES: May Sell Up to $75 Million in Securities
SPRINGFIELD MEDICAL: Wins Cash Collateral Access on Final Basis
SRPC PROPERTIES: Selling Corpus Christi Properties for $210,000
STAR ALLIANCE: Inks Memorandum of Understanding With Knightsbridge
STEEL HUGGERS: Seeks Cash Collateral Access
T&J OF BROOKSVILLE: Files Emergency Bid to Use Cash Collateral
TAMPA BAY PLUMBERS: Court OKs Interim Cash Collateral Access
TNT INDUSTRIES: Seeks Cash Collateral Access
TNT INDUSTRIES: Wins Cash Collateral Access on Final Basis
TPT GLOBAL: Delays Filing of Third Quarter Form 10-Q
US RENAL CARE: $1.25BB Bank Debt Trades at 35% Discount
VALCOUR PACKAGING: $420MM Bank Debt Trades at 21% Discount
VENTURE INC: Court OKs Cash Collateral Access Thru Dec 4
VERITAS FARMS: Incurs $1.1 Million Net Loss in Third Quarter
VETERANS MFG: Seeks to Hire Preeti Gupta as Legal Counsel
VIVAKOR INC: Incurs $2.5 Million Net Loss in Third Quarter
VOYAGER TRAVEL: Court OKs Cash Collateral Access on Final Basis
WATER GREMLIN: Hires Dorsey & Whitney as Legal Counsel
WEBPT INC: Goldman Sachs Marks $2.6M Loan at 85% Off
WHITEWATER HOLDING: 93% Markdown for $270,000 GS MML Loan
WHITEWATER HOLDING: GS MML Marks $6.1MM Loan at 30% Off
WWEX UNI TOPCO: $150MM Bank Debt Trades at 17% Discount
[] Sunset Park Condominium Up for Nov. 30 Auction
[^] Large Companies with Insolvent Balance Sheet
*********
105-31 150TH: Secured Creditor Says Plan Not Feasible
-----------------------------------------------------
Secured creditor Greenway Commercial Services Corp. filed an
objection to The 105-31 150th Street Realty LLC's Disclosure
Statement.
The Secured Creditor asserts that the Debtor's Plan cannot be
approved for the reasons identified in the Objection:
(1) the Plan is not feasible and is woefully inadequate;
(2) the absolute priority rule is violated; and
(3) the Plan is not filed in good faith.
Greenway commenced an action to foreclose a Mortgage on a
commercial property known as and located at 150-31 150th Street,
Jamaica, New York (Block 10112, Lot 58) ("Mortgaged Premises") on
or about February 9, 2021 in the Supreme Court of State of New
York, County of Queens, Index# 703146/2021.
The mortgage being foreclosed upon in the State Court action was
executed by Debtor in favor of Greenway in the principal amount of
$300,000 on May 29, 2015, and was duly recorded in the Office of
the City Register/County Clerk of the County of Queens.
The Debtor defaulted in making repayment of the mortgage amount of
$300,000, plus accrued interest, upon the extended mature date of
May 29, 2020. Despite being given additional time to pay, Debtor
remained in default of its obligation to pay the matured Note, and
when a notice of default was served upon Debtor on Nov. 19, 2020,
it failed to meet its obligation. As a result, the aforesaid
foreclosure action was instituted on February 9, 2021.
Thereafter, an auction was scheduled for March 17, 2023. Two days
prior to the sale date, Debtor filed the instant bankruptcy
petition.
The Debtor proposes to pay $462,677 which payoff amount was as of
March 31, 2023. The Debtor fails to contemplate the continued
interest from March 31, 2023, to date at the interest rate of 16%
per annum, $133.33 per diem, and as a result has an improper payoff
amount. This action alone compels denial of Debtor's Disclosure
Statement and Plan.
The proposed plan is woefully inadequate. The interest rate on the
original loan was 11% per annum and the default interest rate is
16% per annum. Furthermore, Debtor's original note was extended
twice from May 30, 2018, to May 29, 2020 which the Debtor defaulted
on when the loan matured on May 29, 2020.
The Debtor has not met its burden of demonstrating that the Plan is
feasible under 11 U.S.C. Sec. 1129(a)(11). Section 1129(a)'s
feasibility requirement is not satisfied by the Debtor's conclusory
assertion that it intends to pay in full by March 15, 2028. The
Debtor failed to establish its ability to make any payments, the
Secured Creditor tells the Court.
Counsel for Secured Creditor Greenway Commercial Services Corp.:
Meng M. Cheng, Esq.
4709 30th St, Rm 402
LIC, NY 11101
Tel: (516) 698-8878
About The 105-31 150th Street Realty
The 105-31 150th Street Realty LLC is the current owner in fee of
an apartment/storefront building at 105-31 150th Street Jamaica, NY
11435-5017.
The Debtor filed a petition for relief under Subchapter V of
Chapter 11 of the Bankruptcy Code (Bankr. E.D.N.Y. Case No.
23-40875) on March 15, 2023, listing under $1 million in both
assets and liabilities. Raul Paul Martinez, member, signed the
petition.
Judge Elizabeth S. Stong oversees the case.
Richard F. Artura, Esq., at Phillips, Artura & Cox, serves as the
Debtor's counsel.
117 SPENCER: Seeks Approval of Disclosure Statement
---------------------------------------------------
117 Spencer, LLC, and 136, Spencer, LLC, move the Court for the
entry of an order approving the Disclosure Statement with Respect
to Joint Plan of Reorganization of 117 Spencer, LLC and 136
Spencer, LLC.
A hearing on the Motion is scheduled for Jan. 11, 2024 at 11:30 AM
at Worcester Courtroom 3. Objections are due by Jan. 4, 2024 at
4:00PM.
On July 21, 2023, 117 Spencer filed with the Court a voluntary
petition for relief under chapter 11 of the Bankruptcy Code. On
Aug. 23, 2023, 136 Spencer filed with this Court a voluntary
petition for relief under chapter 11 of the Bankruptcy Code.
The Plan provides for the payment in full of all creditors. The
Plan includes a settlement with QS1 that will convey the 117
Property to 117 Spencer. The 117 Property generates approximately
$8,400 of cash monthly, after the payment of Country Bank's debt
service and the payment of all usual and ordinary operating
expenses. Lisa Venuto will provide cash, credit support and other
consideration (the "Plan Contribution") that will fund the
settlement with QS, permit the payment of Allowed Administrative
Expenses and Allowed General Unsecured Claims against 136 Spencer,
and permit the Debtors to pay Resource Capital's Allowed Claim (if
any).
Under Section 1125 of the Bankruptcy Code, a plan proponent must
provide holders of impaired claims and interests with "adequate
information" regarding a debtor's proposed plan of reorganization.
Section 1125(a)(1) of the Bankruptcy Code provides, in pertinent
part, as follows:
"[A]dequate information" means information of a kind, and in
sufficient detail, as far as is reasonably practicable in light of
the nature and history of the debtor and the condition of the
debtor's books and records . . . that would enable a hypothetical
reasonable investor typical of holders of claims or interests of
the relevant class to make an informed judgment about the plan . .
. .
The Disclosure Statement includes information to satisfy the
categories set forth above and therefore contains adequate
information within the meaning of Section 1125 of the Bankruptcy
Code.
The claims in Classes 4, 6 and 7 (the "Voting Class") are impaired
under the Plan and are entitled to vote on the Plan. The claims in
Classes 1, 2, and 5 are unimpaired and are not entitled to vote on
the Plan. The claims in Class 3 may be impaired and may be
entitled to vote on the Plan.
Counsel to 117 SPENCER, LLC, and 136 SPENCER, LLC:
D. Ethan Jeffery, Esq.
Leah A. O'Farrell, Esq.
MURPHY & KING PROFESSIONAL CORPORATION
28 State St., Suite 3101
Boston, MA 02109
Tel: (617) 423-0400
E-mail: ejeffery@murphyking.com
About 117 Spencer and 136 Spencer
117 Spencer, LLC, is a Massachusetts limited liability company that
was formed in 2019 to own and operate the real estate located at
117 Main Street, Spencer, Massachusetts. Lisa Venuto and Peter
Venuto, who are married, collectively own 100% of the Debtor's
membership interests. Peter Venuto is the manager of the Debtor.
117 Spencer, LLC, sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Mass. Case No. 23-40590) on July 21,
2023. In the petition signed by Peter Venuto (by Lisa Venuto under
power of attorney), the Debtor disclosed up to $10 million in both
assets and liabilities.
136 Spencer LLC sought protection for relief under Chapter 11 of
the Bankruptcy Code (Bankr. D. Mass. Case No. 23-40684) on Aug. 23,
2023, listing $500,001 to $1 million in both assets and
liabilities.
Judge Elizabeth D. Katz oversees the cases.
D. Ethan Jeffery, Esq., at Murphy & King, Professional Corporation,
serves as the Debtors' legal counsel.
117 SPENCER: Unsecureds Owed $7K Will be Paid in Full in Plan
-------------------------------------------------------------
117 Spencer, LLC, and 136 Spencer, LLC submitted a Disclosure
Statement with respect to Joint Plan of Reorganization, dated
November 17, 2023.
The Plan will be funded by the Plan contribution and from the
Debtor's continued operations. The Plan permits the Debtors to
restructure their debts and continue operations. Allowed Secured
Claims, Allowed Administrative Expense Claims, and General
Unsecured Claims will be paid in full.
Each Debtor is a Massachusetts limited liability company. Lisa
Venuto and Peter Venuto, who are married, each own 50% of 117
Spencer's membership interests. Peter Venuto owns 100% of 136
Spencer's membership interests. Peter Venuto is the manager of both
Debtors.
* 117 Spencer. 117 Spencer owns a mixed use building with 2
retail units and 16 residential apartment units. 1 of the retail
units and 15 of the residential units are rented, each pursuant to
a lease with the Debtor. The 117 Property is worth approximately
$4,000,000.
* 136 Spencer. 136 Spencer owns an apartment building. The
building is not currently rented, does not have a certificate of
occupancy and is in a state of disrepair. The 136 Property will
require a significant investment of money in order to make it
habitable. The 136 Property's value is speculative given its
condition.
Under the Plan, Class 6 consists of General Unsecured Claims
Against the Debtors. Based on the Schedules and the filed proofs of
claim: (i) the asserted General Unsecured Claims against 117
Spencer total approximately $3,706.95 (exclusive of QS Private
Lending, LLC's("QS" Claims), and (ii) the asserted General
Unsecured Claims against 136 Spencer total approximately $3,279.42.
Each holder of an Allowed General Unsecured Claim will receive, on
the later to occur of the Effective Date or the date such Claim is
Allowed, payment in full of such Allowed Claim: (a) in full, in
cash, or (b) in three equal quarterly payments. The Debtors will
elect which treatment the holder of an Allowed General Unsecured
Claim will receive.
The Plan provides for QS to convey the 117 Property to 117 Spencer.
The 117 Property generates approximately $8,400 of cash monthly,
after the payment of Country Bank's debt service and the payment of
all usual and ordinary operating expenses. The Plan Contribution
will fund the payment of the QS Settlement Amount, Allowed
Administrative Expenses and Allowed General Unsecured Claims
against 136 Spencer. 117 Spencer will have sufficient cash to pay
any Allowed General Unsecured Claims against it. Ms. Venuto has
also agreed to provide sufficient cash to pay any Allowed Resource
Capital Claim or to provide credit support to 117 Spencer to permit
it to re-finance the 117 Property to pay such a claim, if any.
Given that the 117 Property has approximately $2,000,000 in equity
and generates substantial positive cash flow, the Debtors do not
believe that credit support from Ms. Venuto will in any event be
necessary to permit 117 Spencer to re-finance the 117 Property. The
Plan, therefore is feasible.
Counsel for Debtor:
D. Ethan Jeffery, Esq.
Leah A. O'Farrell, Esq.
MURPHY& KING, P.C.
28 State St., Suite 3101
Boston, MA 02109
Tel: (617) 423-0400
E-mail: ejeffery@murphyking.com
lofarrell@murphyking.com
A copy of the Disclosure Statement dated November 17, 2023, is
available at
https://tinyurl.ph/sEuAR from PacerMonitor.com.
About 117 Spencer and 136 Spencer
117 Spencer, LLC, is a Massachusetts limited liability company that
was formed in 2019 to own and operate the real estate located at
117 Main Street, Spencer, Massachusetts. Lisa Venuto and Peter
Venuto, who are married, collectively own 100% of the Debtor's
membership interests. Peter Venuto is the manager of the Debtor.
117 Spencer, LLC, sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Mass. Case No. 23-40590) on July 21,
2023. In the petition signed by Peter Venuto (by Lisa Venuto under
power of attorney), the Debtor disclosed up to $10 million in both
assets and liabilities.
136 Spencer LLC sought protection for relief under Chapter 11 of
the Bankruptcy Code (Bankr. D. Mass. Case No. 23-40684) on Aug. 23,
2023, listing $500,001 to $1 million in both assets and
liabilities.
Judge Elizabeth D. Katz oversees the cases.
D. Ethan Jeffery, Esq., at Murphy & King, Professional Corporation,
serves as the Debtors' legal counsel.
13111 WESTHEIMER: Court OKs Cash Collateral Access Thru Dec 20
--------------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of Texas,
Houston Division, authorized 13111 Westheimer, LLC to use the cash
collateral of Stellar Bank, Gelt Financial, LLC, and Bottomline
Partners, LLC on an interim basis in accordance with the budget,
with a 10% variance, through December 20, 2023 at 11:30 a.m.
The Debtor is authorized, on a limited basis, to use cash
collateral only as provided in strict accordance with the terms and
conditions provided in the Cash Collateral Order. Cash Collateral
includes all money on hand or in banks, accounts receivable, all
rents, lease revenue, deposits and income from tenants and other
third parties for the right to use any part of the Debtor's
building located at 13111 Westheimer Road, Houston, Texas 77077.
As adequate protection, the Secured Lenders are granted valid and
perfected additional and replacement security interests in, and
liens upon all of the Debtor's cash collateral.
To the extent of the aggregate Diminution of Value, if any, of
their respective interests in the cash collateral, and subject to
any court ordered Carve-Out, the Secured Lenders are granted, in
addition to claims under 11 U.S.C. Section 503(b), an allowed
superpriority administrative expense claim pursuant to 11 U.S.C.
Section 507(b).
The Secured Lenders will also be provided adequate protection
payments.
A final hearing on the matter is set for December 20 at 11:30 a.m.
A copy of the court's order and the Debtor's budget is available at
https://urlcurt.com/u?l=bu9qvv from PacerMonitor.com.
The Debtor projects total cash paid out, on a monthly basis, as
follows:
$51,483 for December 2023;
$51,808 for January 2024;
$51,483 for February 2024; and
$51,483 for March 2024.
About 13111 Westheimer, LLC
13111 Westheimer, LLC sought protection under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 23-34448) on
November 9, 2023.
In the petition signed by Nik Lavrinoff, managing member of End
Litigation Advisors, LLC, disclosed up to $10 million in both
assets and liabilities.
Judge Eduardo V. Rodriguez oversees the case.
Susan Tran Adams, Esq., at Tran Singh, LLP, represents the Debtor
as legal counsel.
25 JAY STREET: Seeks Cash Collateral Access
-------------------------------------------
25 Jay Street LLC asks the U.S. Bankruptcy Court for the Eastern
District of New York for authority to use cash collateral and
provide adequate protection on a 14-day basis pending the final
hearing.
The Debtor's bankruptcy filing was precipitated by a dispute
between the Debtor and Lender regarding an alleged monetary default
and alleged cash management default resulting from the Chapter 11
filing of tenant Brooklyn Roasting Works on October 21, 2020 during
COVID 19.
Wells Fargo Bank, National Association, as Trustee for the benefit
of the registered holders of Benchmark 2020-B17, Commercial
Mortgage Pass-Through Certificates, Series 2020-B17, acting by and
through its special servicer, Midland Loan Services, a division of
PNC Bank, National Association has an interest in the Debtor's cash
collateral.
As of the petition date of the Bankruptcy, the Debtor was a party
to the Consolidated Mortgage dated January 29, 2020, in the
principal sum of $18.5 million which mortgage was assigned to
Lender by an Assignment of Mortgage as of dated June 23, 2020.
On February 14, 2023, Lender commenced a foreclosure action,
pending in the U.S. District Court for the Eastern District of New
York.
As adequate protection, the Lender will be granted replacement
liens to the extent that such liens existed as of the Petition Date
along with continuing to make the monthly payments to the Lender.
These events constitute an "Event of Default":
(i) The failure by the Debtor to perform, in any respect, any
of the terms, provisions, conditions, covenants, or obligations
under the Interim Order;
(ii) The entry of any order by the Court granting relief from
or modifying the automatic stay of 11 U.S.C. Section 362(a);
(iii) A default by the Debtor in reporting financial or
operational information as and when required under the Interim
Order that is not cured within 15 business days after written
notice to the Debtor and their counsel.
As adequate protection for any diminution in the Collateral, if
any, as a result of the use of cash collateral, if any, the Lenders
will receive valid, perfected and enforceable security interests to
the same extent that they existed as of the Petition Date.
The pre-petition liens and the Adequate Protection Liens, will be
subject to the following: (i) Quarterly fees of the U.S. Trustee
and other fees due the United States Bankruptcy Court pursuant to
28 U.S.C. 1930, including any fees and applicable interest thereon
pursuant to Chapter 123 of title 28, U.S. Code; and (ii) any cost
and fees of a Chapter 7 Trustee, should one be appointed, however,
not to exceed the amount of $10,000.
A copy of the motion is available at https://urlcurt.com/u?l=d47UJL
from PacerMonitor.com.
About 25 Jay Street LLC
25 Jay Street LLC is a New York limited liability company with its
principal place of business at 77 Box Street, Brooklyn, New York
which owns a mixed-use apartment building located at 25 Jay Street,
Brooklyn, NY 11222. The Property, which is in the DUMBO
neighborhood of Brooklyn, New York and was built in 1920, has 5
stories, consisting of 37 residential units and 4 retail spaces on
the ground floor, and has a monthly rental income of approximately
$158,000.
The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. E.D. N.Y. Case No. 23-44083) on November 7,
2023. In the petition signed by Joseph Torres, Jr., managing
member, the Debtor disclosed up to $50 million in both assets and
liabilities.
Judge Elizabeth S. Stong oversees the case.
Joel M. Shafferman, Esq., at Kucker Marino Winiarsky & BIttens,
LLP, represents the Debtor as legal counsel.
552 OVINGTON: Unsecureds Owed $2.2M be Paid From Available Cash
---------------------------------------------------------------
552 Ovington LLC submitted an Amended Disclosure Statement.
The Debtor filed for Chapter 11 to protect a development parcel of
real estate located at 552 Ovington Avenue, Brooklyn, NY (the
Property") in the face of a pending foreclosure. After several
delays, including one occasioned by the bankruptcy of the Debtor's
secured mortgage lender, the Debtor has been able to negotiate a
settlement (the "Settlement") pursuant to which the claim of the
lender has been set in a reduced amount, subject to payment within
a fixed timeline through either a sale of the Property or a
refinancing of the secured debt.
The Debtor has been negotiating with a third party for a sale (the
"Sale") of the Property, while at the same time it has obtained a
commitment for a $700,000 refinancing (the "Refinancing") to be
made through Hirshmark Capital LLC ("Hirshmark"). Either of these
two alternatives will provide the necessary funds to satisfy the
Lender's secured mortgage claim at the reduced amount under the
Settlement, as well as funding payment in full to the other
non-insider creditors pursuant to a Chapter 11 plan of
reorganization. Thus, the Debtor intends to pursue both paths
simultaneously with the confirmation process while it explores
whether the Sale or the Refinancing should be effectuated.
Of note, the Court set a bar date of Jan. 7, 2019, for the filing
of proofs of claim. No proof of general unsecured claims were filed
by non-insider creditors prior to the bar date, and no motions for
the allowance of a late claim have been filed. Absent the filing
and allowance of such a motion (which the Debtor will oppose) prior
to confirmation of the Plan, there will be no distribution made to
any non-insider holder of a general unsecured claim.
Tim Ziss, the principal of the Debtor, is a speculator in
distressed properties, who has on multiple occasions successfully
acquired real property out of foreclosure litigation and used
Chapter 11 to restructure the debt, pay creditors and clear title
issues, thereby increasing the value of the subject property.
In this instance, through the Debtor, Mr. Ziss acquired the
Property, consisting of approximately 5,000 square feet of vacant
land, generating no income, in 2016 in connection with a
foreclosure by the second mortgagee, known as Congregation Imrei
Yehuday.
The acquisition was subject to two prior mortgages, including a
first mortgage securing a loan made on July 21, 2004 by Fairmont
Funding LLC ("Fairmont") to the prior owner of the Property, Mousa
Khalil, in the original principal amount of $427,150 memorialized
by a note of even date, and a second mortgage in the principal
amount of approximately $194,157.
The notes and mortgages were consolidated and assigned on several
occasions, including to Green Tree Servicing LLC, which commenced
its own foreclosure action in the Supreme Court, Kings County in
2010. In 2015, Green Tree merged and became known as Ditech
Financial LLC ("Ditech").
Following the Debtor's purchase of the Property, Ditech obtained a
judgment of foreclosure and sale on January 30, 2018 and a sale of
the Property was scheduled for July 12, 2018. That sale was stayed
by the Chapter 11 filing of the Debtor on July 11, 2018.
For its part, Ditech filed a proof of claim in the amount of
$646,942 as of the Chapter 11 filing. During the Chapter 11 case,
the Debtor has engaged in lengthy negotiations in an effort to
obtain a reduced payoff. As part of these negotiations, the Debtor
agreed to pay adequate protection of $1,669 per month during the
pendency of the Chapter 11 case (the "Adequate Protection
Payments").
The negotiations were complicated by the subsequent bankruptcy of
Ditech. However, after the Lender acquired the note and mortgage
from Ditech out of the Ditech Chapter 11 case, negotiations were
successfully concluded and the Settlement was executed by the
parties.
Under the terms of the Settlement, the Debtor will pay the sum of
$668,183 plus continuing interest since Sept. 27, 2022, less credit
for all Adequate Protection Payments. The Settlement further
provides for fixed period following approval of the Settlement for
the Debtor to close on either the Refinancing or the Sale of the
Property.
The Settlement was approved at a hearing held on Oct. 24, 2023. At
that hearing, counsel for the Lender agreed that by conducting the
Combined Hearing on Dec. 19, 2023 and with a payment projected
within a few days thereafter, the deadline for closing will be
met.
The Debtor has calculated all principal, interest and other charges
through the anticipated payment date of Dec. 22, 2023 to be a total
amount of $696,187, less adequate protection payments in the
aggregate sum of $85,857, leaving a balance due to the Lender on
Dec. 22, 2023 of $610,330. This calculation is subject to final
review and reconciliation by the Lender, and it is anticipated that
the Lender will provide a final pay-off letter with calculations of
amount prior to the Confirmation Hearing.
Under the Plan, Class 3 consists of the Allowed General Unsecured
Claims. No timely proofs of Class 3 Claims were filed prior to the
Bar Date, and no creditor has moved to allow a late filed Claim.
The Debtor's affiliate, 325 N. Broadway LLC, has an allowed
scheduled Class 3 Claim in the amount of $2,200,763 and is the only
creditor in this class. On the Effective Date, the Class 3 claim
will be paid the balance of Available Cash, if any, remaining after
the payment of Administrative Expense Claims, Priority Claims, and
Class 1 and 2 Secured Claims. Because the sole member of Class 3
is an insider of the Debtor, its claim will not be counted toward
confirmation of the Plan. Class 3 is impaired.
The Plan shall be implemented by the Debtor through either a
Refinancing or Sale. The Debtor is actively engaged in
negotiations for a private Sale of the Property to a third party
for a sum sufficient to pay the Class 1 and Class 2 Secured Claims
in full, as well as to pay all Allowed Administrative Expense
Claims and Priority Claims. If the Debtor elects to pursue a Sale,
confirmation of the Plan shall be deemed to include approval of the
private sale of the Property as permitted under Bankruptcy Rule
6004(f)(1), free and clear of all liens pursuant to Section 363(b)
and (f) of the Bankruptcy Code. Since all non-insider claims are
being paid in full from the Sale proceeds, the purchase price will
be deemed to constitute fair market value, and will reflect the
business judgment of the Debtor that competitive bidding will not
result in a meaningfully higher or better offer.
The Debtor is also pursuing a Refinancing of the Property in an
amount sufficient to pay the Class 1 and Class 2 Secured Claims in
full, as well as to pay all Allowed Administrative Expense Claims
and Priority Claims, in the event that a Sale contract is not
timely executed. Mr. Ziss shall retain full authority to execute
all required loan documents and related instruments on behalf of
the Debtor. At the Closing on the Refinancing, the proceeds of the
loan shall be used for distribution to creditors by the Disbursing
Agent under the terms of this Plan.
The Debtor shall file an appropriate notice that it intends to
proceed with either a Refinancing or a Sale no later than one week
prior to the deadline for the filing of objections to confirmation,
with final approval of the disposition of the Property to be heard
in conjunction with the hearing on Confirmation of the Plan.
The Bankruptcy Court has scheduled a combined hearing to consider
both final approval of the Disclosure Statement and confirmation of
the Plan on Dec. 19, 2023 at 11:30 a.m., prevailing New York Time.
The Combined Hearing will be conducted by the Honorable Nancy
Hershey Lord, at the United States Bankruptcy Court for the Eastern
District of New York, 271-C Cadman Plaza East, Brooklyn, New York,
11201.
The Bankruptcy Court has entered an order scheduling the Combined
Hearing and directing that objections, if any, shall be filed in
writing on the Court's ECF system on or before December 12, 2023.
Attorneys for the Debtor:
J. Ted Donovan, Esq.
GOLDBERG WEPRIN FINKEL
GOLDSTEIN LLP
125 Park Ave., 12th Fl.
New York, NY 10017
A copy of the Disclosure Statement dated November 17, 2023, is
available at https://tinyurl.ph/bhpyb from PacerMonitor.com.
About 552 Ovington
552 Ovington LLC is the owner of a 5,000-square-foot vacant land at
552 Ovington Avenue, Brooklyn, New York, which it acquired in 2016
following a foreclosure sale from the foreclosing third mortgagee,
Congregation Imrei Yehuday. The property does not generate
income.
552 Ovington LLC sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. E.D.N.Y. Case No. 18-43983) on July 11,
2018. In the petition signed by Tim Ziss, managing member, the
Debtor disclosed $1,006,564 in liabilities. Judge Nancy Hershey
Lord presides over the case. The Debtor tapped Goldberg Weprin
Finkel Goldstein, LLP, as its legal counsel.
9301 CHEROKEE: Seeks to Hire FLP Law Group LLP as Counsel
---------------------------------------------------------
9301 Cherokee Lane, LLC seeks approval from the U.S. Bankruptcy
Court for the Central District of California to employ FLP Law
Group LLP as counsel.
The firm will provide these services:
a, assist the Debtor in complying with the requirements of the
Office of the United States Trustee and counsel the Debtor
regarding its duties as Debtor-in-Possession;
b. assist in administering the bankruptcy case, marshaling and
preserving assets, and formulating a Chapter 11 plan of
reorganization;
c. appear in the bankruptcy court on the Debtor's behalf;
d. negotiate with parties-in-interest and counsel the Debtor
about its roles in those negotiations;
e. examine claims files against the estate and resolve any
disputes;
f. prosecute avoidance and dischargeability actions, actions
to determine the extent of liens, other adversary actions or
contested matters, any actions removes to the bankruptcy court;
g. assist and guide other professionals, less familiar with
the bankruptcy processes and rules, in their work for the Debtor
that affects the chapter 11 cases; and
h. perform other services.
The firm will be paid at these rate of $595 to $625 per hour.
The firm received a retainer in the amount of $50,000.
The firm will also be reimbursed for reasonable out-of-pocket
expenses incurred.
Marc A. Lieberman, Esq., a partner at FLP LAW Group 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 through:
Marc A. Lieberman, Esq.
Alan W. Forsley, Esq.
FLP LAW Group LLP
1875 Century Park Eat, Ste 2230
Los Angeles, CA 90067
Tel: (310) 284-7350
Fax: (310) 432-5999
Email: marc.lieberman@flpllp.com
alan.forsley@flpllp.com
About 9301 Cherokee Lane, LLC
9301 Cherokee is a Single Asset Real Estate debtor (as defined in
11 U.S.C. Section 101(51B)).
9301 Cherokee Lane, LLC, in Beverly Hills CA, filed its voluntary
petition for Chapter 11 protection (Bankr. C.D. Cal. Case No.
23-16232) on September 25, 2023, listing as much as $10 million to
$50 million in both assets and liabilities. Cody Holmes as
authorized signatory, signed the petition.
CORNELIUS & KASENDORF, APC serve as the Debtor's legal counsel.
AAD LOCKER: Wins Interim Cash Collateral Access
-----------------------------------------------
The U.S. Bankruptcy Court for the Southern District of Ohio,
Eastern Division, authorized AAD Locker, LLC dba US Heating & Air
Conditioning to use cash collateral on an interim basis, in
accordance with the budget, until the earlier to occur of (a)
December 19, 2023; (b) the conclusion of the Final Hearing; or (c)
the occurrence of a Termination Event.
The events that constitute a "Termination Event" include:
(i) the payment or incurrence by the Debtor of any material
expense of a type not set forth in the Budget;
(ii) 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 11 U.S.C. Sections 503(b)(9) and/or 546(c);
(iii) the failure of the Debtor to timely pay all fees due under
28 U.S.C. Section 1930; and
(iv) the failure of the Debtor to comply with, keep, observe or
perform any of its agreements or undertakings under the Interim
Order.
The Debtor requires the use of cash collateral to continue to pay
its ordinary operating expenses and continue "business as usual."
Prior to the Petition Date, the Debtor entered into several
merchant cash advance agreements. In the Motion, the Debtor
represented that Jaffe Capital, by virtue of a merchant cash
advance agreement and a UCC financing statement may assert a first
priority security interest in the Debtor's cash collateral by
virtue of the respective documents. At the Expedited Hearing,
however, the Debtor represented that LCF Group, not Jaffe, has a
first priority security interest in substantially all of the
Debtor's assets by virtue of a Merchant Agreement dated as of June
9, 2023, and a UCC financing statement filed with the Ohio
Secretary of State on June 20, 2023 as financing statement number
OH0027387240.
LCF and any other creditor that might have an interest in cash
collateral are granted a replacement lien to the same validity,
extent, and priority as their liens existed on the Petition Date in
and upon (a) collateral, including the cash collateral, and all
postpetition proceeds of collateral, and (b) LCF and any other
creditors that are granted a Replacement Lien will not be required
to take any other action to perfect the Replacement Lien granted to
it.
As further additional form of adequate protection, within 10 days
of the entry of the order, the Debtor will deposit $10,000 into a
separate "adequate protection" debtor-in-possession bank account
for the protection of any creditors asserting liens on cash
collateral, subject to further order of the Court.
LCF, Interstate, as representative for an unnamed creditor, CT
Corp., as representative for an unnamed creditor, and Ace Funding
will retain their blanket liens on all of the Debtor's prepetition
assets to the same extent, validity, and priority as their
prepetition security interests. LCF, Interstate, as representative
for an unnamed creditor, CT Corp., as representative for an unnamed
creditor, and Ace Funding will and will have no liens on any
postpetition property per 11 U.S.C. Section 552(a).
A final hearing on the matter is set for December 19, 2023 at 10
a.m.
A copy of the court's order and the Debtor's budget is available at
https://urlcurt.com/u?l=jaLTf5 from PacerMonitor.com.
The Debtor projects $217,026 in total income and $217,026 in total
expenses.
About AAD Locker LLC
AAD Locker LLC is an HVAC service provider. The Debtor sought
protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr.
S.D. Ohio Case No. 23-53940) on November 10, 2023. In the petition
signed by Anthony D. Locker, president, the Debtor disclosed up to
$500,000 in assets and up to $10 million in liabilities.
Judge John E. Hoffman, Jr. oversees the case.
John W. Kennedy, Esq., at Strip Hoppers Leithart McGrath & Terlecky
Co., LPA, represents the Debtor as legal counsel.
ALBANY DIOCESE: Seeks to Extend Plan Exclusivity to January 9, 2024
-------------------------------------------------------------------
The Roman Catholic Diocese of Albany, New York asked the U.S.
Bankruptcy Court for the Northern District of New York to further
extend its exlusive periods within which to file its plan and to
solicit acceptances thereof to January 9, 2024 and March 9, 2024,
respectively.
The Debtor asserted that it should be afforded the opportunity to
continue its efforts to work with the Official Committee of
Unsecured Creditors, the Official Committee of Tort Claimants,
the the Office of the United States Trustee, the Insurers and the
Non-Debtor Entities to develop a Chapter 11 plan that can be
confirmed on consent. The Debtor claimed that it has
demonstrated the ability to work cooperatively with all parties
without the need for extensive motion practice and has
voluntarily produced substantial financial records and
information, which will facilitate mediation of the issues in the
case, including plan funding and inure to the benefit of all
parties in interest for a hopefully relatively expeditious
process resulting in confirmation of a consensual plan.
This is the Debtor's second request for extension. Unless
further extended, the Debtor's exclusive filing and solicitation
periods expire on October 11, 2023 and December 10, 2023,
respectively.
The Roman Catholic Diocese of Albany, New York is represented by:
Francis J. Brennan, Esq.
NOLAN HELLER KAUFFMAN, LLP
80 State Street, 11th Floor
Albany, NY 12207
Tel: (518) 449-3300
About The Roman Catholic Diocese of Albany
The Roman Catholic Diocese of Albany is a religious organization
in Albany, N.Y. It covers 13 counties in Eastern New York,
including a portion of the 14th county. Its Mother Church is the
Cathedral of the Immaculate Conception in the city of Albany.
New York's Child Victims Act, which took effect in August 2019,
temporarily sets aside the usual statute of limitations for
lawsuits to give victims of childhood sexual abuse a year to
pursue even decades-old claims. Hundreds of new lawsuits have
been filed against churches and other institutions since the law
took effect on Aug. 14, 2019.
Facing the financial weight of new sexual misconduct lawsuits, at
least four of the eight Roman Catholic dioceses in the state, has
already sought Chapter 11 protection. The dioceses that have
declared bankruptcy include the Diocese of Rochester and the
Diocese of Rockville Centre on Long Island.
The Catholic Diocese of Albany sought relief under Chapter 11 of
the U.S. Bankruptcy Code (Bankr. N.D.N.Y. Case No. 23-10244) on
March 15, 2023. In the petition filed by Fr. Robert P.
Longobucco, the Debtor estimated assets between $10 million and
$50 million and liabilities between $50 million and $100 million.
Judge Robert E. Littlefield, Jr. oversees the case.
The Debtor tapped Nolan Heller Kauffman, LLP as bankruptcy
counsel; Tobin and Dempf, LLP as special litigation counsel;
Keegan Linscott & Associates, PC as financial advisor; and
Bonadio & Co., LLP as accountant. Donlin, Recano & Company, Inc.
is the claims and noticing agent.
On April 17, 2023, the U.S. Trustee for Region 2 appointed two
separate committees to represent unsecured creditors and tort
claimants in the Debtor's Chapter 11 case.
The unsecured creditors' committee tapped Lemery Greisler, LLC as
legal counsel; Dundon Advisors, LLC as financial advisor; and
OneDigital Investment Advisors, LLC as special investment
consultant.
Stinson, LLP and OneDigital Investment Advisors serve as the tort
committee's legal counsel and special investment consultant,
respectively.
ALDO'S PAINTING: Court OKs Cash Collateral Access on a Final Basis
------------------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of Texas,
Houston Division, authorized Aldo's Painting and Remodelling, LLC
to use cash collateral on a final basis, in accordance with the
budget, with a 15% variance.
The Debtor is engaged in ongoing operations which are anticipated
to produce revenues. The assets that are generating or will
generate cash collateral are limited to the unbilled work in
progress of the Debtors. The Debtor has no inventory or other
assets to produce additional income but do intend to remain in
business generating revenues in the form of Painting and Remodeling
services.
The following creditors are expected to assert a security interest
in the Debtor's cash collateral:
a. U.S. Small Business Administration
b. National Funding, Inc.
c. Samson MCA, LLC
The court said holders of allowed secured claims with a security
interest in cash collateral, if any, as that term is defined in the
Code, will be entitled to a replacement lien in post-petition
accounts receivable, contract rights, and deposit accounts to the
same extent allowed and in the same priority as those interests
appeared on the commencement date.
A copy of the order is available at https://urlcurt.com/u?l=oNwiNM
from PacerMonitor.com.
About Aldo's Painting and Remodelling, LLC
Aldo's Painting and Remodelling, LLC sought protection under
Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No.
23-34430) on November 8, 2023. In the petition signed by Aldo
Rovira, managing member, the Debtor disclosed up to $50,000 in
assets and up to $1 million in liabilities.
Judge Eduardo V. Rodriguez oversees the case.
Donald Wyatt, Esq., at Don Wyatt PC, represents the Debtor as legal
counsel.
ALL DAY: $200MM Bank Debt Trades at 64% Discount
------------------------------------------------
Participations in a syndicated loan under which All Day
AcquisitionCo LLC is a borrower were trading in the secondary
market around 35.6 cents-on-the-dollar during the week ended
Friday, November 24, 2023, according to Bloomberg's Evaluated
Pricing service data.
The $200 million facility is a Term loan that is scheduled to
mature on December 29, 2025. The amount is fully drawn and
outstanding.
All Day AcquisitionCo LLC does business as Reorganized 24 Hour
Fitness Worldwide Inc., an operator of fitness centers in the US.
ALL FLORIDA SAFETY: Court OKs Interim Cash Collateral Access
------------------------------------------------------------
The U.S. Bankruptcy Court for the Middle District of Florida,
Jacksonville Division, authorized All Florida Safety Institute, LLC
to use cash collateral on an interim basis in accordance with the
budget.
The Debtor requires the use of cash collateral to continue
operating the business and pay salaries.
As of the Petition Date, the Debtor was indebted to the U.S. Small
Business Administration in the approximate amount of $2.066 million
and Westlake Funding Company, LLC in the approximate amount of
500,000. The Debtor's obligation is evidenced by a Promissory Note,
Security Agreement, Financing Statement, and Chattel Mortgage
executed on May 27, 2020 to SBA and July 21, 2021 to Westlake.
The Debtor is permitted to pay only expenses necessary for the
operation of the business and not any pre-petition expenses,
officer salaries, professional fees, or insiders without further
court order.
The Cash Collateral lenders will have a perfected postpetition lien
against cash collateral to the same extent and with the same
validity and priority as their respective prepetition lien(s),
without the need to file or execute any document as may otherwise
be required under applicable non-bankruptcy law.
A further hearing on the matter is set for December 13 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=SaNCmN from PacerMonitor.com.
The Debtor projects $124,000 in net revenue and $113,950 in total
expenses for the period from November 15 to December 14, 2023.
About All Florida Safety Institute, LLC
All Florida Safety Institute, LLC offers driving lessons, driver's
license testing and traffic school. All Florida Safety sought
protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr.
M.D. Fla. Case No. 22-01926) on September 22, 2022. In the petition
signed by Mark Allen, manager, the Debtor disclosed $2,200,185 in
assets and $5,618,570 in liabilities.
Judge Jacob A. Brown oversees the case.
Bryan K. Mickler, Esq., at the Law Offices of Mickler & Mickler,
LLP, is the Debtor's counsel.
ALPACKA GROUP: Seeks to Hire Binder & Malter LLP as Counsel
-----------------------------------------------------------
Alpacka Group, LLC seeks approval from the U.S. Bankruptcy Court
for the Northern District of California to employ Binder & Malter,
LLP as counsel.
The firm will provide these services:
a. assist in protecting and preserving the interests of
secured and unsecured creditors, maximizing the value of estate
property, and administering that property throughout the Debtor's
Chapter 11 case;
b. advise the Debtor of its powers and responsibilities under
the Bankruptcy Code;
c. advise the Debtor generally as general bankruptcy counsel;
d. develop legal positions and strategies with respect to all
facets of the case, including analyzing administrative and
operational issues;
e. prepare legal papers;
f. participate in the resolution of issues related to a plan
of reorganization and the development, approval and implementation
of such plan; and
g. render such other necessary services that the Debtor may
require in connection with this case.
The firm will be paid at these rates:
Heinz Binder $625 per hour
Michael W. Malter $625 per hour
Robert G. Harris $575 per hour
Julie H. Rome-Banks $575 per hour
Wendy W. Smith $575 per hour
Joshua de Larios-Heiman $575 per hour
Christian P. Binder $475 per hour
Paralegals and Law Clerks $325 per hour
In addition, the firm will receive reimbursement for out-of-pocket
expenses incurred.
On June 16, 2023, the Debtor paid the firm $15,000 as a
pre-petition retainer. On September 22, 2023, the Debtor paid the
firm $50,000 as a pre-petition retainer for the Chapter 11 case.
Michael W. Malter, Esq., a partner at Binder & Malter, disclosed in
a court filing that her firm is a "disinterested person" pursuant
to Section 101(14) of the Bankruptcy Code.
The firm can be reached at:
Michael W. Malter, Esq.
Reno Fernandez, Esq.
BINDER & MALTER, LLP
2775 Park Avenue
Santa Clara, CA 95050
Tel: (408) 295-1700
Fax: (408) 295-1531
Email: michael@bindermalter.com
reno@bindermalter.com
About Alpacka Group, LLC
Alpacka Group, LLC is engaged in the warehousing/storage business.
The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. N.D. Cal . Case No. 23-51312) on November
8, 2023.
In the petition signed by Michael Applebaum, member, the Debtor
disclosed $385,984 in assets and $1,837,435 in liabilities.
Judge Elaine Hammond oversees the case.
Michael W. Malter, Esq., at Binder & Malter, LLP, represents the
Debtor as legal counsel.
ALPACKA GROUP: Wins Interim Cash Collateral Access
--------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of California,
San Jose Division, authorized Alpacka Group, LLC to use cash
collateral on an interim basis in accordance with the budget, with
a 10% variance, through December 15, 2023.
The court said any unused portions of said Budget will roll over to
increase the following month's Budget, category by category,
without including the aforesaid variance.
A final hearing on the matter is set for December 13, 2023 at 12
p.m.
A copy of the court's order and the Debtor's budget is available at
https://urlcurt.com/u?l=9cmwxS from PacerMonitor.com.
The Debtor projects total expenses, on a weekly basis, as follows:
$10,391 for the week starting December 4, 2023;
$45,391 for the week starting December 11, 2023;
$10,391 for the week starting December 18, 2023; and
$144,720 for the week starting December 25, 2023.
About Alpacka Group, LLC
Alpacka Group, LLC is engaged in the warehousing/storage business.
The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. N.D. Cal . Case No. 23-51312) on November
8, 2023.
In the petition signed by Michael Applebaum, member, the Debtor
disclosed $385,984 in assets and $1,837,435 in liabilities.
Judge Elaine Hammond oversees the case.
Michael W. Malter, Esq., at Binder & Malter, LLP, represents the
Debtor as legal counsel.
ALPINE 4: Receives Notice From Nasdaq of Late Filing of Form 10-Q
-----------------------------------------------------------------
Alpine 4 Holdings, Inc. announced that it received a staff
determination notice from the Listing Qualifications Department of
The Nasdaq Stock Market LLC advising that Nasdaq had not received
the Company's Quarterly Report on Form 10-Q for the quarterly
period ended Sept. 30, 2023, and that as such, the Company was not
in compliance with Nasdaq Listing Rule 5250(c)(1).
Alpine 4 has 60 calendar days from Nov. 16, 2023, to submit to
Nasdaq a plan outlining its anticipated steps to regain compliance
with the Listing Rule. The Company intends to submit the plan
explaining the strategy to make the required SEC filings, and to
regain compliance with the Listing Rule.
Teh Company plans to file the Quarterly Report as soon as
practicable and will provide such information to Nasdaq as part of
the proposed plan.
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.
ALPINE 4: Signs $32M Stock Purchase Agreement With Ionic Ventures
-----------------------------------------------------------------
Alpine 4 Holdings, Inc. disclosed in a Form 8-K filed with the
Securities and Exchange Commission that it entered into a purchase
agreement with Ionic Ventures, LLC, which provides that, upon the
terms and subject to the conditions and limitations set forth
therein, the Company has the right to direct Ionic Ventures to
purchase up to an aggregate of $32,000,000 of shares of the
Company's Class A common stock over the 36-month term of the
Purchase Agreement.
The Company's right to commence sales and Ionic Ventures'
obligation to purchase the Purchase Shares pursuant to the Purchase
Agreement is subject to the satisfaction of certain commencement
conditions, including, without limitation, the effectiveness of the
registration statement registering the Purchase Shares for resale,
that all securities to be issued to Ionic Ventures under the
Purchase Agreement and Registration Rights Agreement shall have
been approved for listing on the Nasdaq Capital Market, and that
the representations and warranties of both the Company and Ionic
Ventures shall be true and correct in all material respects as of
the commencement date.
After the satisfaction of the commencement conditions, the Company
will have the right to present Ionic Ventures with a regular
purchase notice directing Ionic Ventures to purchase any amount up
to $2,000,000 of the Company's Class A common stock per trading
day, at a per share price equal to 95% (or 80% if the Company's
Class A common stock is not then trading on the Nasdaq Capital
Market) of the average of the two lowest volume weighted average
prices ("VWAP") over a specified measurement period, as described
further in the Purchase Agreement.
The Company is also eligible to present Ionic Ventures with an
exemption Purchase Notice directing Ionic Ventures to purchase, (i)
on the date of the execution of the Purchase Agreement up to an
aggregate amount of $1,000,000 and (ii) immediately following the
date that the registration statement registering the resale of the
Purchase Shares has been declared effective and the requisite
stockholder approval for the transactions contemplated by the
Purchase Agreement has been obtained by Company, up to an aggregate
amount of $1,000,000, at a per share price equal to 90% (or 80% if
the Company's Class A common stock is not then trading on the
Nasdaq Capital Market) of the average of the two lowest VWAPs over
a specified measurement period, as described further in the
Purchase Agreement. Upon delivery of an exemption Purchase Notice
to Ionic Ventures, the Company shall also deliver an additional
250,000 shares of Class A common stock to Ionic Ventures.
With each purchase under the Purchase Agreement, the Company is
also required to deliver to Ionic Ventures the Commitment Shares,
which is equal to 2.5% of the number of shares of Class A common
stock deliverable upon such purchase. The Commitment Shares shall
be issued to Ionic Ventures on the Purchase Settlement Date. The
number of shares of Class A common Stock that the Company can issue
to Ionic Ventures from time to time under the Purchase Agreement
shall be subject to the limit of the Ionic Ventures not owning more
than 4.99% of the then issued and outstanding shares of its Class A
common stock.
In addition, Ionic Ventures will not be required to buy any shares
of the Company's Class A common stock pursuant to a Purchase Notice
on any trading day on which the closing trade price of the
Company's Class A common stock is below $0.20. The Company will
control the timing and amount of sales of the Company's Class A
common stock to Ionic Ventures. Ionic Ventures has no right to
require any sales by the Company, and is obligated to make
purchases from the Company as directed solely by the Company in
accordance with the Purchase Agreement. The Purchase Agreement
provides that the Company will not be required or permitted to
issue, and Ionic Ventures will not be required to purchase, any
shares under the Purchase Agreement if such issuance would violate
Nasdaq rules, and the Company may, in its sole discretion,
determine whether to obtain stockholder approval to issue shares in
excess of 19.99% of its outstanding shares of Class A common stock
if such issuance would require stockholder approval under Nasdaq
rules.
The Company will control the timing and amount of future sales, if
any, of Purchase Shares to Ionic Ventures. Ionic Ventures has no
right to require the Company to sell any Purchase Shares to Ionic,
but Ionic Ventures is obligated to make purchases as the Company
directs, subject to certain conditions.
The Purchase Agreement and the Registration Rights Agreement each
contain representations, warranties, covenants, closing conditions
and indemnification and termination provisions by, between and for
the benefit of the parties which are customary of transactions of
this nature. Additionally, sales to Ionic Ventures under the
Purchase Agreement may be limited, to the extent applicable, by
Nasdaq and SEC rules.
The Purchase Agreement may be terminated by the Company if certain
conditions to commence have not been satisfied by Dec. 31, 2023.
The Purchase Agreement may also be terminated by the Company at any
time after commencement, at the Company's discretion; provided,
however, that if the Company has sold less than $15,000,000 worth
of its shares of Class A common stock to Ionic Ventures (other than
as a result of the Company's inability to sell shares to Ionic
Ventures as a result of the Beneficial Ownership Limitation, the
Company's failure to have sufficient shares authorized or its
failure to obtain stockholder approval to issue more than 19.99% of
the Company's outstanding shares), the Company will pay to Ionic
Ventures a termination fee of $500,000, which is payable, at its
option, in cash or in shares of Class A common stock at a price
equal to the closing price on the day immediately preceding the
date of receipt of the termination notice. Further, the Purchase
Agreement will automatically terminate on the date that the Company
sells, and Ionic Ventures purchases, the full $32,000,000 amount
under the agreement or, if the full amount has not been purchased,
on the expiration of the 36-month term of the Purchase Agreement.
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.
AMC ENTERTAINMENT: $2BB Bank Debt Trades at 19% Discount
--------------------------------------------------------
Participations in a syndicated loan under which AMC Entertainment
Holdings Inc is a borrower were trading in the secondary market
around 81.3 cents-on-the-dollar during the week ended Friday,
November 24, 2023, according to Bloomberg's Evaluated Pricing
service data.
The $2 billion facility is a Term loan that is scheduled to mature
on April 22, 2026. About $1.91 billion of the loan is withdrawn
and outstanding.
AMC Entertainment Holdings, Inc. operates as a holding company. The
Company, through its subsidiaries, provides theatrical exhibition,
movie screening, food distribution, online ticket booking, and
other related services.
AMERICANAS SA: Nears Deal with Banks to Restructure Debt
--------------------------------------------------------
Rachel Gamarski of Bloomberg News reports that Americanas SA is
nearing a deal with banks to restructure debt.
Americanas SA and bank creditors are about to reach an agreement to
overhaul the Brazilian retailer's debt, according to Nov. 24 report
by Bloomberg, citing a person close to the matter.
But after a full day of meetings this Friday, Nov. 24, 2023,
creditor banks and Americanas, in judicial recovery with 42.5b
reais in debt, will remain at the negotiating table throughout the
weekend, focusing on contractual issues, Valor said without saying
how it obtained the information.
Bloomberg notes that an agreement is a key step toward eventually
exiting bankruptcy protection. The plan will be voted on at the
general meeting of creditors scheduled for December 19, 2023.
Lenders have found common ground with the embattled company on
details of the text to overhaul the debt, including a specific
clause that banks should drop litigation rights, said Bloomberg's
source.
About Americanas SA
Americanas was one of the largest diversified retail chains in
Brazil, with a wide platform of physical stores, robust e-commerce,
fintech, and has just entered into the niche food retail. It is
listed on B3, being indirectly controlled by billionaire Jorge
Paulo Lemann, Carlos Alberto Sicupira and Marcel Telles.
The retailer nosedived in January 2023 after becoming mired in an
accounting scandal. The firm filed for bankruptcy at a court in
Rio de Janeiro on Jan. 19, 2023.
Americanas sought protection under Chapter 15 of the Bankruptcy
Code (Bankr. S.D.N.Y. Case No. 23-10092) on Jan. 25, 2023. White &
Case LLP, led by John K. Cunningham, is the U.S. counsel.
ARCHDIOCESE OF NY: Abuse Victims Group Wants Chubb Probed
---------------------------------------------------------
James Nani and Alex Wolf of Bloomberg Law report that a child sex
abuse survivors advocacy group wants New York's financial regulator
to investigate insurer Chubb Ltd. for allegedly not complying with
its mandate to cooperate with the state's Child Victims Act.
The Coalition for Just and Compassionate Compensation asked the New
York State Department of Financial Services to probe Chubb and its
policies over what the group said is the insurer's resistance to
cover damages related to the CVA. The request, made in a letter
Friday, November 24, 2023, comes as Chubb subsidiaries battle the
Archdiocese of New York in state court over the extent of their
coverage obligations with respect to abuse claims.
"It is a cynical but tried and true practice of some in the
insurance industry to delay, deny, and defend," the letter said.
"Chubb knows that every month that is spent in litigation, another
survivor dies, lessening their potential liability."
Suits stemming from New York's CVA have forced six of the state's
eight regional Catholic dioceses into bankruptcy, exacerbating
fights with insurers as the dioceses seek coverage for the abuse
claims. The archdiocese hasn't sought bankruptcy protection.
Neither Chubb nor the DFS immediately responded to requests for
comment Friday, November 24, 2023.
The Chubb insurers sued the New York Archdiocese in June 2023. The
insurers argue that because senior archdiocese officials may have
known for decades that some clergy members were committing sexual
abuse, their insurance policies don't require coverage for injuries
that were expected, intended, or weren't accidental.
The New York Archdiocese is one of the largest by Catholic
population in the country, covering large swaths of New York City
and several counties. It has been named as a defendant in an
estimated 3,000 lawsuits related to the CVA, according to Chubb’s
court papers.
"The precedent that Chubb is seeking to establish here will have
profound impacts on claims far beyond those involving the
Archdiocese," the group's letter said. "And as such, the
Department of Financial Services has an obligation to make clear to
Chubb -- and all insurance carriers in the State of New York—they
will fulfill their obligations."
'Seeks to Welch'
The archdiocese in October filed a motion to dismiss Chubb's
lawsuit, saying the insurer "seeks to welch on its decades-long
contractual promises to defend and pay thousands of survivor
claims."
The litigation, which shows Chubb's "hungry desire" to evade
coverage after accepting $100 million in premiums over the last
three decades, is based on unproven allegations of negligence, the
archdiocese said.
Arguments on the motion to dismiss are scheduled for November 27,
2023.
The coalition in its letter said Chubb has also pushed back on
coverage across the country, including in a lawsuit it brought
against the Archdiocese of San Francisco.
The New York Archdiocese has already settled more than 100 cases,
and aims to settle more, the coalition said.
But "to provide full restitution" Chubb must "fulfill its insurance
obligation and assist in paying out these damages" considering the
millions of dollars in insurance premiums the archdiocese has paid
out over the years, the group said, echoing the archdiocese's
arguments.
Former Gov. Andrew Cuomo in February 2019 signed the CVA into law,
extending the time for victims of sexual abuse to bring civil suits
and reopening the statute of limitations for legal claims for a
one-year window beginning on August 14, 2019.
In September 2019, the New York State Department of Financial
Services issued a letter saying it expected insurers "to cooperate
fully with the intent of the Child Victims Act."
ASTRO ONE: $525MM Bank Debt Trades at 40% Discount
--------------------------------------------------
Participations in a syndicated loan under which Astro One
Acquisition Corp is a borrower were trading in the secondary market
around 60.1 cents-on-the-dollar during the week ended Friday,
November 24, 2023, according to Bloomberg's Evaluated Pricing
service data.
The $525 million facility is a Term loan that is scheduled to
mature on October 25, 2028. About $515.8 million of the loan is
withdrawn and outstanding.
Founded in 2021 and based in the US, Astro One Acquisition
Corporation is a merged entity of Petmate and Brody. Both companies
engage in the production and distribution of pet products such as
cat waste management products, toys, kennels, shelters, chews, and
feeding and watering products.
ATLAS CAPITAL: Hits Chapter 11 Bankruptcy Protection
----------------------------------------------------
Atlas Capital Investments LLC filed for chapter 11 protection in
the Middle District of Florida. According to court filing, the
Debtor reports between $10 million and $50 million in debt owed to
1 and 49 creditors. The petition states funds will be available to
unsecured creditors.
The Debtor owns and leases property in San Jose California, located
at 5729 Fontanaso Way, San Jose, CA 95138. On May 27, 2022, Atlas,
the Debtor, borrowed $18,395,000.00 from The Evergreen Advantage,
LLC, secured by the Debtor’s property. The Debtor's property
consists of a 80,000 sq. ft. medical building on 4.7 acres. Prior
to the loan with Evergreen, on July 29, 2021 Khloris Biosciences,
Inc. entered into a lease agreement for the entire premises from
September, 2021 to March, 2032 (126 months) with base rent starting
at $130,647 per month and escalating annually. The short term loan
with Evergreen matured and a Notice of Default was recorded July
18, 2023.
A meeting of creditors under 11 U.S.C. Section 341(a) is slated for
December 27, 2023, at 10:00 AM at UST-LA3, TELEPHONIC MEETING.
CONFERENCE LINE: 866-910-0293, PARTICIPANT CODE: 7560574.
About Atlas Capital Investments
Atlas Capital Investments LLC is a Single Asset Real Estate (as
defined in 11 U.S.C. Sec. 101(51B)).
Atlas Capital Investments LLC sought relief under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 23-05269) on Nov.
21, 2023. In the petition signed by Lynn A. Bui, as Manager of
Zephyr Asset Management LLC, manager of the Debtor, the Debtor
reported assets and liabilities between $10 million and $50 million
each.
The Debtor is represented by:
Buddy D Ford, Esq.
Buddy D. Ford, P.A.
P.O. Box 3167
Saratoga, CA 95070
BANYAN CAY: Seeks to Hire Dimond Kaplan as Special Counsel
----------------------------------------------------------
Banyan Cay Resort & Golf, LLC and its affiliates seek approval from
the U.S. Bankruptcy Court for the Southern District of Florida to
employ Dimond Kaplan & Rothestein, P.A. as special litigation
counsel.
The Debtor needs the firm's legal assistance to commence and
prosecute claims and causes of actions against possible defendants
that the Debtors determine are of value to the Debtors' estates.
The firm will be paid at these rates:
Partners $250 to $400 per hour
Associates $150 per hour
Paralegals $75 per hour
The firm will be paid a retainer in the amount of $100,000.
The firm will also be reimbursed for reasonable out-of-pocket
expenses incurred.
Scott M. Dimond, Esq., a partner at Dimond Kaplan & Rothestein,
P.A., 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:
Scott M. Dimond, Esq.
Dimond Kaplan & Rothestein, P.A.
2665 South Bayshore Drive Penthouse 2B
Miami, FL 33133
Tel: (305) 374-1920
About Banyan Cay Resort & Golf, LL
Banyan Cay Resort & Golf, LLC, and affiliates constitute a business
enterprise that invests in, owns, and operates an approximately
200-acre resort and golf complex in West Palm Beach, Florida called
Banyan Cay Resort & Golf Club, along with the ownership of certain
real property incidental thereto and the provision of services
related thereto. Banyan Cay Resort first acquired the property upon
which the Development sits in August 2015 from Palm Tree Golf
Management, LLC.
Banyan Cay Resort and its affiliates sought protection under
Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No.
23-12386) on March 29, 2023. In the petition signed by Gerard A.
McHale, McHale, P.A., proposed chief restructuring officer, Banyan
Cay Resort disclosed up to $500 million in both assets and
liabilities.
Judge Mindy A. Mora oversees the cases.
Gerard McHale of McHale, PA, has been designated as CRO and CEO of
the Debtors. Joseph A. Pack and Jessey J. Kreh of Pack Law, serve
as the Debtors' counsel. Keen-Summit Capital Partners LLC serves
as marketing agent and broker for the Debtors.
BISHOP OF SANTA ROSA: Committee Hires Stout as Valuation Expert
---------------------------------------------------------------
The official committee of unsecured creditors of The Roman Catholic
Bishop of Santa Rosa seeks approval from the U.S. Bankruptcy Court
for the Northern District of California to employ Stout Risius
Ross, LLC fka The Claro Group as valuation expert.
The firm's services include:
a. providing expert consulting services and expert testimony
regarding the appropriate aggregate value of claims of survivors
who have filed claims in this case;
b. providing expert consulting services and expert testimony in
connection with any contested matters or litigation arising in this
case, including without limitation, any settlements entered into by
the Debtor and its insurers without Committee consent;
c. providing expert consulting services and expert testimony in
the review and evaluation of reports prepared by the Debtor, its
professionals, the Debtor's insurers, and their professionals;
d. assisting with the preparation of case filings concerning the
issues for which Stout is providing expert consulting services and
expert testimony;
e. preparing for and providing deposition and court testimony
regarding the issues for which Stout is providing expert consulting
services or expert testimony;
f. participating in meetings or discussions with the Debtor, the
Debtor's professionals, the Debtor's insurers, or other
parties-in-interest; and
g. providing such other expert consulting and advisory services
as may be requested by the Committee.
The firm will be paid at these rates:
Managing Director $625 to $900 per hour
Director $450 to $575 per hour
Managers/Senior Managers $375 to $450 per hour
Analysts/Associates $275 to $405 per hour
The firm will also be reimbursed for reasonable out-of-pocket
expenses incurred.
Katie McNally, a managing director at Stout Risius Ross, LLC,
disclosed in a court filing that the firm is a "disinterested
person" as the term is defined in Section 101(14) of the Bankruptcy
Code.
The firm can be reached at:
Katie McNally
Stout Risius Ross, LLC
One South Wacker Drive 38th Floor
Chicago, IL 60606
Tel: (312) 546-3426
Email: kmcnally@stout.com
About The Roman Catholic Bishop of Santa Rosa
The Roman Catholic Bishop of Santa Rosa is a diocese, or
ecclesiastical territory, of the Roman Catholic Church in the
northern California region of the United States, named in honor of
St. Rose of Lima.
Abuse victims filed hundreds lawsuits after the state of California
paused for three years its statute of limitation on claims for
child sexual abuse. The pause ended on Dec. 31, 2022.
Facing more than 200 new legal claims over childhood sexual abuse,
the Roman Catholic Bishop of Santa Rosa, also known as the Diocese
of Santa Rosa, filed a Chapter 11 petition (Bankr. N.D. Calif. Case
No. 23-10113) on March 13, 2023. The Debtor estimated $10 million
to $50 million in both assets and liabilities.
The Hon. Charles Novack is the case judge.
The Debtor tapped Felderstein Fitzgerald Willoughby Pascuzzi &
Rios, LLP as bankruptcy counsel; GlassRatner Advisory & Capital
Group, LLC as financial advisor; and Donlin, Recano & Company, Inc.
as claims agent. Shapiro Galvin Shapiro & Moran, Weinstein &
Numbers, LLP, and Foley & Lardner, LLP serve as special counsels.
The U.S. Trustee for Region 17 appointed an official committee to
represent unsecured creditors in the Debtor's Chapter 11 case.
Stinson, LLP and Berkeley Research Group, LLC serve as the
committee's legal counsel and financial advisor, respectively.
BMI MOTORS: Court OKs Cash Collateral Access Thru Dec 5
-------------------------------------------------------
The U.S. Bankruptcy Court for the Middle District of Florida,
Orlando Division, authorized BMI Motors, Inc. to use cash
collateral on an interim basis in accordance with the budget, with
a 10% variance, through December 5, 2023.
As adequate protection, the Secured Creditors will have a perfected
post-petition lien against cash collateral to the same extent and
with the same validity and priority as the prepetition lien,
without the need to file or execute any 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 all applicable loan and
security documents.
A continued hearing on the matter is set for December 5, 2023 at 2
p.m.
A copy of the order is available at https://urlcurt.com/u?l=Fh0VPd
from PacerMonitor.com.
About BMI Motors, Inc.
BMI Motors, Inc. sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. M.D. Fla. Case No. 6:23-bk-04659) on
November 2, 2023.
In the petition signed by Fabian Pourrain, sole shareholder, the
Debtor disclosed up to $50,000 in assets and up to $500,000 in
liabilities.
Judge Lori V. Vaughan oversees the case.
Daniel A. Velasquez, Esq., at Latham Luna Eden & Beaudine LLP,
represents the Debtor as legal counsel.
BMI MOTORS: Hires Latham Luna as Bankruptcy Counsel
---------------------------------------------------
BMI Motors, Inc. seeks approval from the U.S. Bankruptcy Court for
the Middle District of Florida to employ the law firm of Latham,
Luna, Eden & Beaudine, LLP to handle its Chapter 11 case.
The hourly rates charged by the firm's attorneys and
paraprofessionals range from $105 to $485.
The Debtor paid the firm an advance fee of $5,890.
Daniel Velasquez, Esq., an attorney at Latham, Luna, Eden &
Beaudine, 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:
Daniel A. Velasquez, Esq.
Latham, Luna, Eden & Beaudine, LLP
201 S. Orange Ave., Suite 1400
Orlando, FL 32801
Telephone: (407) 481-5800
Facsimile: (407) 481-5801
Email: dvelasquez@lathamluna.com
About BMI Motors, Inc.
BMI Motors, Inc., filed a Chapter 11 bankruptcy petition (Bankr.
M.D. Fla. Case No. 23-04659) on November 2, 2023, disclosing under
$1 million in both assets and liabilities.
The Debtor is represented by LATHAM LUNA EDEN & BEAUDINE LLP.
BORREGO COMMUNITY: Jan. 8 Hearing on Committee-Backed Plan
----------------------------------------------------------
Borrego Community Health Foundation and the Official Committee of
Unsecured Creditors submitted a Joint Combined Disclosure Statement
and Chapter 11 Plan of Liquidation.
Important Dates and Deadlines:
* Voting Record Date will be on Nov. 28, 2023.
* Solicitation commences on Dec. 11, 2023.
* Voting Objection Deadline will be on Dec. 22, 2023.
* Deadline for Creditors to file Rule 3018 Motions will be on
Dec. 22, 2023.
* Deadline to respond to Voting Objection will be on Dec. 29,
2023.
* Deadline for Debtor to respond to Rule 3018 Motions will be on
Dec. 29, 2023.
* Deadline to file Plan Supplement will be on Jan. 5, 2024.
* Voting Deadline and deadline to submit the Release Opt-Out
Election Form will be on Jan. 8, 2024, at 4:00 p.m., Pacific Time.
* Combined Plan and Disclosure Statement Objection Deadline will
be on Jan. 8, 2024, at 4:00 p.m., Pacific Time.
* Deadline to file Confirmation Brief and other evidence
supporting the Combined Plan and Disclosure Statement will be on
Jan. 11, 2024.
* Deadline to file Voting Tabulation Affidavit will be on Jan.
11, 2024.
* The Plan confirmation hearing will be on Jan. 15, 2024, at
2:00 p.m.
The Plan proposes to pay or otherwise satisfy Allowed
Administrative Claims, Allowed Secured Claims, Allowed General
Unsecured Claims, and a portion of the Allowed DHCS Claim, in full
on the Effective Date or as soon as practicably thereafter. The
Plan creates Class A and Class B Liquidating Trust Interests and
proposes to pay Allowed General Unsecured Claims and the Allowed
DHCS Claim in accordance with the DHCS Settlement. The Plan also
proposes the resolution of certain other Claims and the
distribution of proceeds to Holders of Allowed Claims. Claims
against the Debtor -- other than Unclassified Claims -- are
classified in Section 9 and treated in accordance with Section 10
hereof. The Plan provides that (i) the Liquidating Trustee will
administer the Class B Liquidating Trust Assets and continue the
wind-down and liquidation of the Debtor after the Effective Date,
and (ii) the Co-Liquidating Trustee will administer the Class A
Liquidating Trust Assets to pay Holders of Allowed General
Unsecured Claims.
On Nov. 10, 2022, the Debtor filed a motion requesting entry of an
order (i) authorizing the proposed sale of substantially all of the
Debtor's assets, (ii) approving the form of the Asset Purchase
Agreement (the "APA"), (iii) approving certain procedures governing
the sale process (the "Bid Procedures"), and (iv) approving certain
procedures governing assumption and rejection of Executory
Agreements in connection with the sale. On Dec. 19, 2022, the
Bankruptcy Court entered an order approving the Bid Procedures.
On Feb. 2, 2023, the Debtor filed a notice that the Debtor received
qualified bids and selected designated DAP Health as the stalking
horse bidder. The notice further provided that the Debtor would
conduct an auction on Feb. 6, 2023.
On Feb. 15, 2023, the Debtor filed a notice that the Debtor had
selected (i) DAP Health as the winning bidder, and (ii) Altamed
Health Services Corporation as the back-up bidder at the auction.
On March 1, 2023, the Bankruptcy Court held a hearing to approve
the DAP Sale pursuant to the Sale Motion, and on March 13, 2023,
the Bankruptcy Court entered an order granting the Sale Motion and
approving the DAP Sale (the "Sale Order"). In connection with the
DAP Sale, the Debtor and DAP Health entered into that certain
Transition Services Agreement, wherein the parties agree to provide
certain services and support after the Closing of the Sale pending
the approval of the CHOW by CMS. Subsequent to approval of the
CHOW, the Post-Effective Date Debtor will be dissolved wherein the
Debtor provides certain services to DAP Health.
On July 31, 2023, the Debtor filed the notice of occurrence of
closing of sale to DAP Health, Inc., which informed the Bankruptcy
Court and all parties in interest of the occurrence of the Closing
Date.
After the Effective Date and Closing of the Sale, the
Post-Effective Date Debtor, as described herein, will need to
continue to operate until the CHOW submitted, pursuant to 42 C.F.R
Sec. 489.18, by the Debtor and DAP Health is approved by CMS, which
will result in the transfer of the Debtor's Medicare Identification
Number and Medicare Provider Agreement to DAP Health. After the
Closing and Effective Date, DAP Health and the Post-Effective Date
Debtor will operate pursuant to the Transition Services Agreement.
Under the Plan, Class 3 consists of the General Unsecured Claims
against the Debtor. Each Holder of an Allowed General Unsecured
Claim will receive its Pro Rata share of the Class A Trust
Beneficial Interests. Class 3 is Impaired.
Class A Trust Beneficial Interests means the interests in the
Liquidating Trust of the Holders of Allowed Claims in Class 3 and
their concomitant entitlement to Distributions to be made by the
Liquidating Trust on account of Allowed General Unsecured Claims
from the Class A Liquidating Trust Assets.
This Plan will be funded from the following sources: (i) the
Remaining Estate Funds; (ii) the Remaining Cash; (iii) Net Cash
Proceeds; (iv) any refunds, deposits, or other monies owing to the
Debtor which were not sold to DAP Health; (v) the Litigation
Recoveries; (vi) any other monetary recoveries obtained by the
Debtor prior to the Effective Date; and (vii) any other monetary
recoveries obtained by the Liquidating Trustee after the Effective
Date that do not constitute Purchased Assets.
Attorneys for Chapter 11 Debtor:
Samuel R. Maizel, Esq.
Tania M. Moyron, Esq.
Rebecca M. Wicks, Esq.
DENTONS US LLP
601 South Figueroa St., Suite 2500
Los Angeles, CA 90017-5704
Tel: (213) 623-9300
Fax: (213) 623-9924
E-mail: samuel.maizel@dentons.com
tania.moyron@dentons.com
rebecca.wicks@dentons.com
Attorneys to the Official Committee of Unsecured Creditors:
Jeffrey N. Pomerantz, Esq.
Steven W. Golden, Esq.
PACHULSKI STANG ZIEHL & JONES LLP
10100 Santa Monica Blvd., 13th Fl.
Los Angeles, California 90067
Tel: (310) 227-6910
Fax: (3100 201-0760
E-mail: jpomerantz@pszjlaw.com
sgolden@pszjlaw.com
A copy of the Joint Combined Disclosure Statement and Chapter 11
Plan of Liquidation dated November 17, 2023, is available at
https://tinyurl.ph/bQIZi from PacerMonitor.com.
About Borrego Community Health Foundation
Borrego Community Health Foundation offers, among other services,
comprehensive primary care, pediatric care, urgent care, behavioral
health services, dental services, specialty care, transgender
health, women's health, prenatal care, veteran's health, and
chiropractic services. Borrego Community is a non-profit public
charity, tax-exempt under section 501(c)(3) of the Internal Revenue
Code. The Foundation, as of Sept. 12, 2022, had 24 brick and
mortar sites including administrative sites, two pharmacies and six
mobile units covering a service area consisting of a 250-mile
corridor on the eastern side of San Diego and Riverside Counties,
Calif.
Borrego Community Health Foundation sought protection under Chapter
11 of the U.S. Bankruptcy Code (Bankr. S.D. Cal. Case No. 22-02384)
on Sept. 12, 2022, with between $50 million and $100 million in
both assets and liabilities. Isaac Lee, chief restructuring
officer, signed the petition.
Judge Laura S. Taylor oversees the case.
The Debtor tapped Tania M. Moyron, Esq., at Dentons US, LLP as
bankruptcy counsel and Hooper Lundy & Bookman, P.C., as special
counsel. Kurtzman Carson Consultants, LLC, is the Debtor's claims
and noticing agent.
Jacob Nathan Rubin, the patient care ombudsman appointed in the
Debtor's case, tapped Levene Neale Bender Yoo & Golubchik, LLP, as
bankruptcy counsel and Dr. Tim Stacy DNP, ACNP-BC as consultant.
On Sept. 26, 2022, the U.S. Trustee appointed an official unsecured
creditors' committee in this Chapter 11 case. Pachulski Stang
Ziehl & Jones, LLP serves as the committee's counsel.
BW HAMPTON: Court OKs Deal on Cash Collateral Access Thru Dec 31
----------------------------------------------------------------
The U.S. Bankruptcy Court for the Central District of California,
Los Angeles Division, authorized The BW Hampton Group, Inc. to use
cash collateral on an interim basis in accordance with its
agreement with secured lender Allstar Financial Services, Inc.
The parties agreed that the Debtor may use cash collateral for the
period from July 1, 2023 through and including December 31, 2023.
To provide adequate protection to Allstar, the Debtor:
a. grants Allstar a replacement lien on the revenue generated
postpetition from the Property to the extent that Allstar's cash
collateral is actually used; and
b. agrees to make monthly adequate protection payments in the
amount of $15,654 to Allstar upon entry of an order approving the
Stipulation for the months of July through September, 2023 and
thereafter monthly by the 7th day of each month through and
including December, 2023.
A copy of the order is available at https://urlcurt.com/u?l=XqJLwP
from PacerMonitor.com.
About BW Hampton Group
The BW Hampton Group, Inc., a company in Glendale, Calif., filed
its voluntary petition for Chapter 11 protection (Bankr. C.D.
Calif. Case No. 23-13518) on June 7, 2023, with $1 million to $10
million in both assets and liabilities.
Judge Sandra R. Klein oversees the case.
Laura Portillo, Esq., at Portillo Ronk Legal Team serves as the
Debtor's bankruptcy counsel.
CAPROCK LAND: Seeks Court Nod to Sell Cattle to 3 String
--------------------------------------------------------
CapRock Land Company, LLC asked the U.S. Bankruptcy Court for the
Northern District of Texas for authority to sell its cattle to 3
String Cattle Company, LLC.
The company owns the Garrow Ranch, a cattle ranch in Idaho Falls
where it keeps 137 cows with calves on their side and 100 first
year heifers.
3 String offered to buy the cattle at the Garrow Ranch for the
following prices:
Bred cows $1,850 per head
Open cows (short breds) $1,100 per head
Heiferettes $1,200 per head
Steer calves Price per pound at $3.50
assuming weights are average
of 350lbs (slide .08 per
hundred pound up and down)
Heifer calves Price per pound at $3.00
assuming weights are average
of 350lbs (slide .08 per
hundred pound up and down)
Bulls and unhealthy cattle are not included in 3 String's offer and
will be taken to a sale yard. The cattle will be sold "free and
clear" of any interest.
A total of $80,094.36 in expenses will be deducted from the sale
price.
"The market for the livestock continues to fluctuate and the
expense of caring for them continues to accrue," Steven Hoard,
CapRock' attorney said.
[CapRock] does not have enough liquid funds to market, transport,
or provide for the cattle and selling to the current caretaker
would maximize the return to the estate as there will be minimal
expenses deducted for things like commission, feed, or freight,"
Mr. Hoard said.
About CapRock Land Company
CapRock Land Company, LLC is a global logistics company that
manages organic feed ingredients around the world to the benefit of
its end customers. It operates seven storage facilities across the
U.S. and is headquartered in Amarillo, Texas.
CapRock filed Chapter 11 petition (Bankr. N.D. Texas Case No.
23-20172) on Aug. 25, 2023, with $1 million to $10 million in
assets and $10 million to $50 million in liabilities. Thomas
Bunkley, owner, signed the petition.
Judge Robert L. Jones oversees the case.
Steven L. Hoard, Esq., at Mullin Hoard & Brown, LLP, represents the
Debtor as legal counsel.
StoneX Commodity Solutions, LLC, Debtor's lender, is represented by
Polsinelli, PC.
CARESTREAM DENTAL: $335MM Bank Debt Trades at 16% Discount
----------------------------------------------------------
Participations in a syndicated loan under which Carestream Dental
Inc is a borrower were trading in the secondary market around 84.2
cents-on-the-dollar during the week ended Friday, November 24,
2023, according to Bloomberg's Evaluated Pricing service data.
The $335 million facility is a Term loan that is scheduled to
mature on September 1, 2024. The amount is fully drawn and
outstanding.
Carestream Dental provides dental imaging, software, and
accessories for dental practitioners across the globe.
CELSIUS NETWORK: Will Raise Creditor Payouts in Chapter 11 Exit
---------------------------------------------------------------
Emily Lever of Law360 reports that cryptocurrency investment
platform Celsius Network said it has tweaked its confirmed Chapter
11 plan ahead of the launch of its new crypto mining company, and
will distribute more crypto assets to creditors than initially
planned. A full-text copy of the article is available at
https://www.law360.com/bankruptcy/articles/1769125/celsius-network-to-increase-creditor-payouts-in-ch-11-exit
About Celsius Network
Celsius Network LLC -- http://www.celsius.network/-- is a
financial services company that generates revenue through
cryptocurrency trading, lending, and borrowing, as well as by
engaging in proprietary trading.
Crypto lenders such as Celsius boomed during the COVID-19 pandemic,
drawing depositors with high interest rates and easy access to
loans rarely offered by traditional banks. But the lenders'
business model came under scrutiny after a sharp sell-off in the
crypto market spurred by the collapse of major tokens terraUSD and
luna in May 2022.
New Jersey-based Celsius froze withdrawals in June 2022, citing
"extreme" market conditions, cutting off access to savings for
individual investors and sending tremors through the crypto
market.
The list of major crypto firms that have filed for bankruptcy
protection in 2022 now includes Celsius Network, Three Arrows
Capital and Voyager Digital.
Celsius Network, LLC and its subsidiaries sought protection under
Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Lead Case
No. 22-10964) on July 14, 2022. In the petition filed by CEO Alex
Mashinsky, the Debtors estimated assets and liabilities between $1
billion and $10 billion.
The Debtors tapped Kirkland & Ellis, LLP and Kirkland & Ellis
International, LLP as bankrupty counsels; Fischer (FBC & Co.) as
special counsel; Centerview Partners, LLC as investment banker; and
Alvarez & Marsal North America, LLC as financial advisor. Stretto
is the claims agent and administrative advisor.
On July 27, 2022, the U.S. Trustee appointed an official committee
of unsecured creditors. The committee tapped White & Case, LLP, as
its bankruptcy counsel; Elementus Inc. as its blockchain forensics
advisor; M3 Advisory Partners, LP as its financial advisor; and
Perella Weinberg Partners, LP as its investment banker.
Shoba Pillay, Esq., is the examiner appointed in the Debtors'
Chapter 11 cases. Jenner & Block, LLP and Huron Consulting
Services, LLC, serve as the examiner's legal counsel and financial
advisor, respectively.
CELULARITY INC: Gets Notice From Nasdaq Regarding Delayed Form 10-Q
-------------------------------------------------------------------
Celularity Inc. disclosed in a Form 8-K filed with the Securities
and Exchange Commission that The Nasdaq Stock Market LLC provided
formal notice to the Company that as a result of the Company's
failure to timely file its Q3 2023 10-Q, it no longer complied with
the continued listing requirements under the timely filing criteria
outlined in Nasdaq Listing Rule 5250(c)(1). Nasdaq's notice has no
immediate effect on the listing of the Company's common stock and
warrants, which continue to trade on the Nasdaq Capital Market
under the symbols "CELU" and "CELUW", respectively.
Celularity had informed Nasdaq that it failed to timely file its Q3
2023 Form 10-Q within the extension period provided by Rule 12b-25
because the Company had not yet completed the preparation of the
financial statements, including its goodwill impairment testing for
the quarter ended Sept. 30, 2023.
The Company is required to submit to Nasdaq a plan to regain
compliance within 60 calendar days, or by Jan. 22, 2024, and if
accepted, the Company has a period of 180 calendar days from the Q3
2023 Form 10-Q due date, or until or until May 20, 2024, to
implement the plan to regain compliance. The Company intends to
submit a plan to Nasdaq within the 60-day period and will evaluate
available options to regain compliance within the compliance
period. However, there can be no assurance that the Company will
regain compliance within the compliance period, or maintain
compliance with the other Nasdaq listing requirements. As
previously disclosed, the Company is currently not in compliance
with Nasdaq's minimum bid price requirement for continued listing
on the Nasdaq Capital Market under Nasdaq Listing Rule 5450(a)(1)
and has until March 11, 2024, to regain compliance. If the Company
chooses to implement a reverse stock split, it must be completed no
later than 10 business days prior to March 11, 2024 to timely
regain compliance. If it appears to Nasdaq that the Company will
not be able to cure the deficiency, or if the Company is otherwise
not eligible, Nasdaq will provide notification that the Company's
common stock will be subject to delisting.
About Celularity
Celularity Inc. (Nasdaq: CELU) headquartered in Florham Park, N.J.,
is a biotechnology company leading the next evolution in cellular
and regenerative medicine by developing allogeneic cryopreserved
off-the-shelf placental-derived cell therapies, including
therapeutic programs using mesenchymal-like adherent stromal cells
(MLASCs), T-cells engineered with CAR (CAR T-cells), and
genetically modified and unmodified natural killer (NK) cells.
These therapeutic programs target indications in autoimmune,
infectious and degenerative diseases, and cancer. In addition,
Celularity develops, manufactures and commercializes innovative
biomaterial products also derived from the postpartum placenta.
Celularity believes that by harnessing the placenta's unique
biology and ready availability, it can develop therapeutic
solutions that address significant unmet global needs for
effective, accessible, and affordable therapies.
Morristown, New Jersey-based Deloitte & Touche LLP, the Company's
auditor since 2018, issued a "going concern" qualification in its
report dated March 31, 2023, citing that the Company has suffered
recurring losses from operations since inception that raise
substantial doubt about its ability to continue as a going
concern.
CHEMICAL EXCHANGE: Hires Brinkman Law Group PC as Counsel
---------------------------------------------------------
The official committee of unsecured creditors of Chemical Exchange
Industries, Inc. and its affiliates seeks approval from the U.S.
Bankruptcy Court for the Southern District of Texas to employ
Brinkman Law Group, PC as counsel.
The firm will provide these services:
a. assist, advise and represent the Committee in its
consultation with the Debtors relative to the administration of
this Chapter 11 case;
b. assist, advise and represent the Committee in analyzing the
Debtors' assets and liabilities, investigating the extent and
validity of liens and participating in and reviewing any proposed
asset sales or dispositions;
c. attend meetings and negotiate with representatives of the
Debtors and secured creditors;
d. assist and advise the Committee in its examination, analysis
and prosecution of the meritorious claims related to the conduct of
the Debtors' affairs, including relationships and transactions with
affiliates and insiders;
e. assist the Committee in the review, analysis and negotiation
of any plan(s) of reorganization that may be filed and to assist
the Committee in the review, analysis and negotiation of the
disclosure statement accompanying any plan(s) of reorganization;
f. assist the Committee in its examination, analysis and
prosecution of any claims arising under Chapter 5 of the Bankruptcy
Code;
g. assist the Committee in the review, analysis and negotiation
of any financing or funding agreements;
h. take all necessary actions to protect and preserve the
interests of the Committee, including, without limitation, the
prosecution of actions on its behalf, negotiations concerning all
litigation in which the Debtors are involved, and review and
analyze all claims filed against the Debtors' estate;
i. generally prepare on behalf of the Committee all necessary
motions, applications, answers, orders, reports, and papers in
support of positions taken by the Committee;
j. appear, as appropriate, before the Court, the Appellate
Courts, and other Courts in which matters may be heard and to
protect the interests of the Committee before said Courts and the
Office of the United States Trustee; and
k. perform all other necessary legal services in this case.
The firm will be paid at these rates:
Daren R. Brinkman, Esq. $850 per hour
Joy Cook, Esq. $500 per hour
Paralegals $325 per hour
The firm will also be reimbursed for reasonable out-of-pocket
expenses incurred.
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: Not applicable.
Question: Has your client approved your prospective budget
and staffing plan, and, if so for what budget
period?
Response: To be provided.
Daren R. Brinkman, Esq., a partner at Brinkman Law Group, PC,
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:
Daren R. Brinkman, Esq.
Brinkman Law Group, PC
543 Country Club Drive, Suite B
Wood Ranch, CA 93065
Tel: (818) 597-2992
Fax: (818) 597-2998
Email: firm@brinkmanlaw.com
About Chemical Exchange Industries, Inc.
Chemical Exchange Industries, Inc. specializes in contract
manufacturing and tolling, and the manufacture of DCPD
(dicyclopentadiene), DCPD alcohol, resin intermediates, n-butanol,
DCPD/CPD derivatives, mining chemicals, aromatic solvents, and
sustainable aviation fuel (SAF). The company is based in Galena
Park, Texas.
Chemical Exchange Industries and its affiliates filed Chapter 11
petitions (Bankr. S.D. Texas Lead Case No. 23-90778) on Sept. 18,
2023. In the petition signed by its chief executive officer,
Douglas H. Smith, Chemical Exchange Industries disclosed $10
million to $50 million in assets and $1 million to $10 million in
liabilities.
Judge David R. Jones oversees the cases.
The Debtors tapped Joseph Epstein, Esq., at Joseph G. Epstein, PLLC
and The Tower Law Firm, PLLC as bankruptcy counsels, and Chiron
Financial, LLC as investment banker and financial advisor.
The U.S. Trustee for Region 7 appointed an official committee to
represent unsecured creditors in the Debtors' Chapter 11 cases. The
committee is represented by Zachary McKay, Esq.
CHEMICAL EXCHANGE: Hires Jackson Walker as Local Counsel
--------------------------------------------------------
The official committee of unsecured creditors of Chemical Exchange
Industries, Inc. and its affiliates seeks approval from the U.S.
Bankruptcy Court for the Southern District of Texas to employ
Jackson Walker, LLP as local counsel.
The firm will provide these services:
a. advise the Committee with respect to its rights, duties, and
powers in these Cases;
b. assist and advise the Committee in its consultations with the
Debtors relative to the administration of these Cases;
c. assist the Committee in analyzing the claims of the Debtors'
creditors and the Debtors' capital structure and in negotiating
with holders of claims;
d. assist the Committee in its investigation of the acts,
conduct, assets, liabilities, and financial condition of the
Debtors and of the operation of the Debtors' businesses;
e. assist the Committee in its investigation of the liens and
claims of the Debtors' lenders and the prosecution of any claims or
causes of action revealed by such investigation;
f. assist the Committee in its analysis of, and negotiations
with, the Debtors or any third-party concerning matters related to,
among other things, the assumption or rejection of leases of
nonresidential real property and executory contracts, asset
dispositions, financing or other transactions, and the terms of one
or more plans of reorganization for the Debtors and accompanying
disclosure statements and related plan documents;
g. assist and advise the Committee in communicating with
unsecured creditors regarding significant matters in these Chapter
11 cases;
h. represent the Committee at hearings and other proceedings;
i. review and analyze applications, orders, statements of
operations, and schedules filed with the Court and advise the
Committee as to their propriety;
j. assist the Committee in preparing pleadings and applications
as may be necessary in furtherance of the Committee's interests and
objectives;
k. prepare, on behalf of the Committee, any pleadings, including
without limitation, motions, memoranda, complaints, adversary
complaints, objections or comments in connection with any of the
foregoing; and
l. perform such other legal services as may be required or
requested or as may otherwise be deemed in the interests of the
Committee in accordance with the Committee's powers and duties as
set forth in the Bankruptcy Code, Bankruptcy Rules or other
applicable law.
The firm will be paid at these rates:
Partners $565 to $1,715 per hour
Sr. Counsel $385 to $1,050 per hour
Associates $515 to $850 per hour
Paraprofessionals $225 to $450 per hour
The firm will also be reimbursed for reasonable out-of-pocket
expenses incurred.
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 rates of other attorneys in the firm range
from $515 to $1,7150 an hour and the
paraprofessional rates range from $2250 to $450
per hour.
Question: Has your client approved your prospective budget
and staffing plan, and, if so for what budget
period?
Response: The firm has not prepared a budget and staffing
plan.
Genevieve Graham, Esq., a partner at Jackson Walker 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:
Genevieve Graham, Esq.
JACKSON WALKER LLP
1401 McKinney Street, Suite 1900
Houston, TX 77010
Telephone: (713) 752-4200
Facsimile: (713) 752-4221
About Chemical Exchange Industries, Inc.
Chemical Exchange Industries, Inc. specializes in contract
manufacturing and tolling, and the manufacture of DCPD
(dicyclopentadiene), DCPD alcohol, resin intermediates, n-butanol,
DCPD/CPD derivatives, mining chemicals, aromatic solvents, and
sustainable aviation fuel (SAF). The company is based in Galena
Park, Texas.
Chemical Exchange Industries and its affiliates filed Chapter 11
petitions (Bankr. S.D. Texas Lead Case No. 23-90778) on Sept. 18,
2023. In the petition signed by its chief executive officer,
Douglas H. Smith, Chemical Exchange Industries disclosed $10
million to $50 million in assets and $1 million to $10 million in
liabilities.
Judge David R. Jones oversees the cases.
The Debtors tapped Joseph Epstein, Esq., at Joseph G. Epstein, PLLC
and The Tower Law Firm, PLLC as bankruptcy counsels, and Chiron
Financial, LLC as investment banker and financial advisor.
The U.S. Trustee for Region 7 appointed an official committee to
represent unsecured creditors in the Debtors' Chapter 11 cases. The
committee is represented by Zachary McKay, Esq.
COMMUTER ADVERTISING: Seeks Cash Collateral Access
--------------------------------------------------
Commuter Adverting, Inc. asks the U.S. Bankruptcy Court for the
Southern District of Ohio, Western Division, at Dayton, for
authority to continue using cash collateral and provide adequate
protection.
The Debtor requires continued use of cash collateral to continue
funding necessary business expenses and to fund the costs
associated with the administration of the case.
Huntington Bank and the Small Business Administration assert an
interest in the Debtor's cash collateral.
Huntington Bank has agreed to continued use of their cash
collateral, however the Debtor is still waiting for a response from
the Small Business Administration.
As adequate protection for any diminution in the value of the
entities asserting interests in the cash collateral, the Debtor
will make scheduled nonaccelerated payments of principal and
interest to Huntington Bank and make scheduled nonaccelerated
payments of principal and interest to the SBA as set forth in the
Budget.
As additional adequate protection, each entity holding a valid
enforceable lien in the cash collateral will be granted a lien upon
the property of the Debtor of the same type and description as the
prepetition collateral in which that entity held a security
interest as of the Petition Date to secure any claim that entity
might have under 11 U.S.C. Section 507(b) of the Petition Date for
the diminution in value caused by the usage of cash collateral up
to the amount used by the order, provided, however, all such liens
will be subject to any previously perfected and enforceable liens
on the cash collateral.
A copy of the order is available at https://urlcurt.com/u?l=uHgpEK
from PacerMonitor.com.
About Commuter Adverting, Inc.
Commuter Adverting, Inc. sought protection under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. S.D. Ohio Case No. 23-31504) on
September 19, 2023. In the petition signed by Russ Gottesman,
president, the Debtor disclosed up to $1 million in assets and up
to $10 million in liabilities.
Judge Guy R. Humphrey oversees the case.
Denis E. Blasius, Esq., at Thomsen Law Group, LLC, represents the
Debtor as legal counsel.
COMPLETE COMPANIES: Hires Slocum Law as Special Counsel
-------------------------------------------------------
Complete Companies Inc. seeks approval from the U.S. Bankruptcy
Court for the Middle District of Tennessee to employ Slocum Law as
special counsel.
The firm's services include:
(a) advising and consulting with the Debtor with respect to the
contested matter with Summit Tractors LLC;
(b) appearing in the Bankruptcy Court on behalf of the Debtor in
connection with any such contested matter; and
(c) participating in any potential settlement negotiations.
The firm will be paid at the rates of $400 per hour for attorneys,
and $150 per hour for paralegals.
The firm will also be reimbursed for reasonable out-of-pocket
expenses incurred.
Keith Slocum, Esq., a partner at Slocum Law, 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:
Keith Slocum, Esq.
Slocum Law
370 Mallory Station Rd. Ste 504
Franklin, TN 37067
Tel: (615) 656-3355
About Complete Companies Inc.
Complete Companies Inc. filed a petition under Chapter 11,
Subchapter V of the Bankruptcy Code (Bankr. M.D. Tenn. Case No.
23-03136) on Aug. 29, 2023, with as much as $50,000 in assets and
$100,001 to $500,000 in liabilities.
Judge Marian F. Harrison oversees the case.
Adrienne N. Trammell-Love, Esq., at Trammell Love Law Firm
represents the Debtor as legal counsel.
CORE SCIENTIFIC: Dec. 22 Hearing on Plan & Disclosures
------------------------------------------------------
Judge Christopher M. Lopez has entered an order conditionally
approving the Disclosure Statement of Core Scientific, Inc., et
al.
The following dates and deadlines are established (subject to
modification as necessary) are approved with respect to the
solicitation of the Plan, voting on the Plan, and confirmation of
the Plan, as well as filing objections to confirmation of the Plan
and approving the Disclosure Statement on a final basis:
Voting Record Date for Holders of Claims and Interests will be
on November 9, 2023.
Conditional Disclosure Statement Hearing is on November 14, 2023
at 2:00 p.m. (Prevailing Central Time).
Rights Offering Record Date will be on November 16, 2023.
Mailing Deadline for Combined Hearing Notice, Solicitation
Mailing Deadline, Rights Offering Subscription Period Commences and
Deadline for Commitment Parties to fund Backstop Commitment Deposit
to the Escrow Account (as defined in the Rights Offering
Procedures) will be on November 17, 2023 (or as soon as reasonably
practicable thereafter.
Deadline for Debtors to File Claims Objections for Voting Purposes
or to Request Claim Estimation for Voting Purposes will be on
December 1, 2023 at 5:00 p.m. (Prevailing Central Time).
Mailing Deadline for Cure Amounts and Filing of Cure Notice will
be on December 5, 2023.
Plan Supplement Filing Deadline, Rights Offering Subscription
Deadline and Deadline for Subscription Rights Holder to Remit
Payment to Subscription Agent will be on December 8, 2023.
Rule 3018(a) Motion Deadline will be on December 8, 2023 at 5:00
p.m. (Prevailing Central Time).
Voting Deadline and Opt Out Deadline and Deadline to Send
Funding Notice to Commitment Parties will be on December 13, 2023
at 5:00 p.m. (Prevailing Central Time).
Deadline to Object to Disclosure Statement and Plan will be on
December 15, 2023 at 5:00 p.m. (Prevailing Central Time).
Ballot Certification Deadline will be on December 18, 2023.
Assumption and Cure Objection Deadline will be on December 19,
2023.
Deadline to File Confirmation Brief and Reply to Plan
Objection(s) and Backstop Commitment Funding Deadline will be on
December 20, 2023.
Combined Hearing will be on December 22, 2023 at 10:00 a.m.
(Prevailing Central Time) (subject to Court's availability).
The Solicitation Packages, and each of the documents contained
therein (substantially in the form attached hereto), including, but
not limited to, the Ballots, are approved.
The Debtors shall mail, or cause to be mailed, the Solicitation
Packages on or before the Solicitation Mailing Deadline, or as soon
as reasonably practicable thereafter, to Holders of Claims and
Interests in the Voting Classes entitled to vote on the Plan as of
the Voting Record Date, as required by Bankruptcy Rule 3017(d). The
Debtors shall also provide complete Solicitation Packages
(excluding Ballots) to the U.S. Trustee and all parties required to
be notified under Bankruptcy Rule 2002 and Local Rule 2002-1.
The Notice of Non-Voting Status is approved.
The proposed form and manner of service of the Notice of Non-Voting
Status provide due, proper, and adequate notice, comport with due
process, and comply with all applicable Bankruptcy Rules and
Bankruptcy Local Rules. No further notice is required or
necessary.
The Release Opt Out Form is approved.
The Release Opt Out Form complies with the Bankruptcy Code,
applicable Bankruptcy Rules, and the applicable Bankruptcy Local
Rules and Complex Case Procedures and, together with the Combined
Hearing Notice and, as applicable, the Notice of Non-Voting Status,
provides adequate notice to Other Beneficial Owners and Holders of
Claims in Class 4 (Other Secured Claims) and Class 7 (Priority
Non-Tax Claims). No further notice is required or necessary.
The Rights Offering Procedures, attached hereto as Exhibit 15, are
fair and appropriate and are approved.
The Subscription Form, including all instructions provided therein,
provides adequate information and instructions for each individual
entitled to participate in the Rights Offering. No further
information or instructions are necessary.
The Combined Hearing Notice is approved.
The form and proposed manner of service of the Combined Hearing
Notice provide due, proper, and adequate notice, comport with due
process, and comply with all applicable Bankruptcy Rules and
Bankruptcy Local Rules. No further notice is required or
necessary.
About Core Scientific
Core Scientific, Inc. (OTCMKTS: CORZQ) is the largest U.S.
publicly-traded Bitcoin mining company in computing power. Core
Scientific, which was formed following a business combination in
July 2021 with blank check company XPDI, is a large-scale operator
of dedicated, purpose-built facilities for digital asset mining
colocation services and a provider of blockchain infrastructure,
software solutions and services. Core mines Bitcoin, Ethereum and
other digital assets for third-party hosting customers and for its
own account at its six fully operational data centers in North
Carolina (2), Georgia (2), North Dakota (1) and Kentucky (1). Core
was formed following a business combination in July 2021 with XPDI,
a blank check company.
In July 2022, one of the Company's largest customers, Celsius
Mining LLC, filed for Chapter 11 bankruptcy in New York. With low
Bitcoin prices depressing mining revenue to a record low, Core
Scientific first warned in October 2022 that it may have to file
for bankruptcy if the company can't find more funding to repay its
debt that amounts to over $1 billion. Core Scientific did not make
payments that came due in late October and early November 2022 with
respect to several of its equipment and other financings, including
its two bridge promissory notes.
Core Scientific and its affiliates filed petitions for relief under
Chapter 11 of the Bankruptcy Code (Bankr. S.D. Tex. Lead Case No.
22-90341) on Dec. 21, 2022. As of Sept. 30, 2022, Core Scientific
had total assets of US$1.4 billion and total liabilities of US$1.3
billion.
Judge David R. Jones oversees the cases.
The Debtors hired Weil, Gotshal & Manges, LLP, as legal counsel;
PJT Partners, LP as investment banker; and AlixPartners, LLP as
financial advisor. Stretto is the claims agent.
A group of Core Scientific convertible bondholders is working with
restructuring lawyers at Paul Hastings. Meanwhile, B. Riley
Commercial Capital, LLC, as administrative agent under the
Replacement DIP facility, is represented by Choate, Hall & Stewart,
LLP.
On Jan. 9, 2023, the U.S. Trustee for Region 7 appointed an
official committee to represent unsecured creditors in the Debtors'
Chapter 11 cases. The committee tapped Willkie Farr & Gallagher,
LLP, as legal counsel and Ducera Partners, LLC as investment
banker.
The U.S. Trustee for Region 7 appointed an official committee of
equity security holders. The equity committee is represented by
Vinson & Elkins, LLP.
COUNTY INVESTMENT: Hires Tranzon Asset as Auctioneer
----------------------------------------------------
County Investment L.P., and its affiliate seek approval from the
U.S. Bankruptcy Court for the Southern District of Texas to employ
Tranzon Asset Advisors as auctioneer.
The firm will market and auction the Debtors' real properties known
as follows:
-- 0 Northpoint Dr, Houston, TX 77060;
-- 100 Northpoint Dr, Houston, TX 77060;
-- 10807 Huffmeister Rd, Cypress, TX 77065;
-- 0 Ella Blvd, Houston, TX 77067;
-- 0 Northborough Dr, Houston, TX 77067;
-- 0 Ella Blvd, Houston, TX 770677; and
-- 0 Ella Blvd, Houston, TX 77067.
The firm will receive a "buyer's premium" of 10 percent, which will
be paid by the buyer at the closing on the sale.
As disclosed in court filings, Tranzon is a disinterested person
within the meaning of Section 101(14) of the Bankruptcy.
The firm can be reached through:
Kelly D. Toney, CAI
Tranzon Asset Advisors
Houston, TX
Office: (270) 769-0284
Mobile: (713) 816-1123
Email: ktoney@tranzon.com
About County Investment L.P.
County Investment L.P. is primarily engaged in renting and leasing
real estate properties.
The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. S.D. Tex. Case No. 23-34374) on November 6,
2023. In the petition signed by Danesh Pajooh, managing member, the
Debtor disclosed up to $10 million in assets and up to $10 million
in liabilities.
Leonard Simon, Esq., at Pendergraft & Simon LLP, represents the
Debtor as legal counsel.
COUNTY INVESTMENT: Wins Cash Collateral Access Thru Dec 20
----------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of Texas,
Houston Division, authorized County Investment L.P. and 2017
Partners, LLC to use cash collateral on an interim basis in
accordance with the budget, with a 10% variance, through December
20, 2023.
The Debtor County Investment, LP, is indebted to Texas Capital
pursuant to (a) the Promissory Note, executed by the Debtor, County
Investment, LP, dated January 16, 2019, in the original principal
amount of $2.3 million; plus (b) the Promissory note, executed by
Debtor, County Investment, LP, dated August 4, 2020, in the
original principal amount of $215,000; plus (c) the Promissory
note, executed by Debtor, County Investment, LP, dated July 14,
2016, in the original principal amount of $251,500.
In addition, the Debtor 2017 Partners, LLC executed the Promissory
note, executed by Debtor, 2017 Partners, LLC, dated March 22, 2017
in the original principal amount of $975,000. Note 4 is secured by
the Deed of Trust and Security Agreement, dated March 22, 2017,
which granted the owner and holder of the Note, a perfected lien
and security interest in Rankin Road Property, which consists of 3
tracts of land located at West Rankin Road, 0 Ella Blvd and
Northborough Drive, recorded in the Harris County Real Property
records at Clerk's File No. RP-2017-124085. Note 4 and the Rankin
Road Property were included in the confirmed Plan and treated as
Class 2D in the confirmed Plan.
The Indebtedness was originally executed in favor of CommunityBank.
CommunityBank assigned the Indebtedness and all collateral for the
Indebtedness to Texas Capital pursuant to the Assignment of Note
and Liens, dated effective December 27, 2022 which was properly
recorded in the Real Property Records of Harris County, Texas under
Clerk's File No. RP-2023-7856.
TCL holds first and senior deeds of trust liens on the Huffmeister
Shopping Center, the 100 Northpoint Property and the Rankin Road
Property, plus an assignment of the Debtors' rents, income, revenue
and profits from the Properties, and all proceeds relating thereto,
which constitute the cash collateral of TCL as of the filing date.
TCL is owed principal, accrued interest, real property tax advances
and forced place insurance advances as of the filing date, plus
attorney's fees and expenses through October 31, 2023 on the
Indebtedness, as follows: (a) on Note 1, $2,467,597, with interest
accruing at a per diem rate of $1,049 from November 7, 2023 until
paid and additional attorney's fees and expenses incurred after
October 31, 2023; (b) on Note 2, $38,120, with interest accruing at
a per diem rate of $16 from November 7, 2023 until paid and
additional attorney's fees and expenses incurred after October 31,
2023; (c) on Note 3, $170,323, with interest accruing at a per diem
rate of $76 from November 7, 2023 until paid and additional
attorney's fees and expenses incurred after October 31, 2023; and
(4) on Note 4, $312,798, with interest accruing at a per diem rate
of $139 from November 7, 2023 until paid and additional attorney's
fees and expenses incurred after October 31, 2023.
As partial adequate protection for use by Debtors of Texas
Capital's cash collateral, Debtor will pay Texas Capital by the
10th calendar day of each month, starting November 10, 2023, the
amount of $14,000 and a like amount of $14,000 due on the 10th
calendar day of each month the Order is in effect.
As partial adequate protection for use by Debtors of Texas
Capital's cash collateral, Texas Capital is granted replacement
liens and security interests as of the petition date for such cash
collateral as is used by the Debtors, in all of the Debtors'
post-petition property.
The replacement liens and security interests granted are valid,
enforceable and fully perfected as of the petition date.
A final hearing on the matter is set for December 20, 2023 at 11
a.m.
A copy of the order is available at https://urlcurt.com/u?l=ECDaxr
from PacerMonitor.com.
About County Investment L.P.
County Investment L.P. is primarily engaged in renting and leasing
real estate properties.
The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. S.D. Tex. Case No. 23-34374) on November 6,
2023. In the petition signed by Danesh Pajooh, managing member, the
Debtor disclosed up to $10 million in assets and up to $10 million
in liabilities.
Judge Jeffrey P. Norman oversees the case.
Leonard Simon, Esq., at Pendergraft & Simon LLP, represents the
Debtor as legal counsel.
DENT TECH: Seeks 90-Day Extension to Confirm Plan
-------------------------------------------------
Dent Tech Laboratory, Inc., filed a Motion to Extend Time to
Confirm a Chapter 11 Small Business Plan of Reorganization and
Disclosure Statement pursuant to 11 U.S.C. Sec. 1121(e). The
Debtor requests an extension of the time by which a Plan of
Reorganization should be confirmed for an additional 90 days,
through and including April 2, 2024.
This second requested extension of the Time period to confirm a
plan and disclosure statement is necessary due to the fact, that
the time to confirm is set to expire on Jan. 3, 2024, and the
Debtor needs an additional time to resolve a claim of the main
Creditor JPMorgan Chase Bank, N.A. and thereafter to file an
amended plan and disclosure statement, outlining the settlement
terms, reached by the Parties.
The requested extension of the time period for confirmation will
allow the Debtor to confirm a Chapter 11 plan without violating the
Bankruptcy Code and to provide treatment to its Creditors.
Counsel for Debtor:
Alla Kachan, Esq.
LAW OFFICES OF ALLA KACHAN, P.C.
2799 Coney Island Ave., Suite 202
Brooklyn, NY 11235
Tel: (718) 513-3145
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.
DIRECT TEXTILE: Wins Interim Cash Collateral Access
---------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Texas, Fort
Worth Division, authorized Direct Textile Store, LLC to use cash
collateral on an interim basis in accordance with the budget, with
a 5% variance.
The Debtor requires the use of cash collateral for its wholesale
textiles supplier general operating expenses. Revenue is generated
through the Debtor's wholesale textiles supplier business.
A search in the Texas Secretary of State shows that the only cash
lienholder is Centerstone SBA Lending.
As adequate protection, the creditors are granted replacement liens
on all post-petition cash collateral and post-petition acquired
property to the same extent and priority they possessed as of the
Petition Date.
As adequate protection for the use of cash collateral, the Debtor
will pay to Centerstone SBA Lending, Inc. $2,000 per month on or
before the 9th day of each month.
A copy of the court's order and the Debtor's budget is available at
https://urlcurt.com/u?l=Or0sSY from PacerMonitor.com.
The Debtor projects $485,304 in total income and $95,607 in total
expenses for 30 days.
About Direct Textile Store, LLC
Direct Textile Store, LLC is a wholesale supplier of bed linens,
towels, bed sheets, and textile supplies.
The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. N.D. Tex. Case No. 23-43225) on October 24,
2023. In the petition signed by John Henry Lee III, president, the
Debtor disclosed $165,587 in assets and $3,737,648 in liabilities.
Judge Edward L. Morris oversees the case.
Robert C. Lane, Esq., at The Lane Law Firm, represents the Debtor
as legal counsel.
DIVERSIFIED PANELS: Seeks Cash Collateral Access
------------------------------------------------
Diversified Panels Systems, Inc. asks the U.S. Bankruptcy Court for
the Central District of California, Northern Division, for
authority to use cash collateral and provide adequate protection.
The Debtor requires the use of cash collateral to operate its
business, to pay employees, to pay rent and other expenses.
Cannabis legalization in California led to the Debtor manufacturing
panels for the medical marijuana industry. In 2016, Debtor's vice
president of sales, Pat McGuire, met Brian Mitchell of Green
Gadgets to discuss starting a company to supply panels for the
cannabis industry. In 2017, they met Rain Steinberg and John
Falcone, who founded Plan B Management, LLC. However, negotiations
fell apart, leading to a lawsuit against the Debtor. The cannabis
industry slowed down, and Debtor's principal has been trying to
sell the business since 2017. Plan B filed a lawsuit against the
Debtor and obtained a $12 million judgment, but the Debtor disputes
and has filed a motion for a new trial.
There are three creditors holding security interests in monies and
in receivables. Based on filed UCC 1 Financing Statements, these
appear to be the secured creditors:
1. California Oaks State Bank (SBA Loan - now Pacific Western
Bank), lien recorded December 16,2002, owed $256,857
2. JPMorgan Chase, lien recorded December 24,2021, owed $517,324
(for purchased equipment)
3. Assn Company (also known as For a Financial West, LLC), lien
recorded November 15,2022 owed $930,000
In the proposed interim period, the first 90 days of the case. The
Debtor believes it will generate net cash flow of $588,640 on gross
revenues of $6,289,703 and expenses of $5,701,063. Net cash flow
and the value of assets on hand will increase during the interim
period.
Secured creditor's security interest is protected for at least the
following reasons:
a. The value of Debtor's assets.
b. DPS will continue to operate the business and maintain and
service assets.
c. Operating the business creates additional revenues.
d. All assets are adequately insured.
e. Providing replacement liens to secured creditors to the extent
its prepetition lien attached to DPS's property prepetition and
with the same validity, priority, and description of collateral. If
there is a defect in a security interest prepetition, that same
defect would apply post-petition.
f. The Court may order DPS at the interim hearing or at a final
hearing to make adequate protection payments. DPS proposes to
continue servicing debt per the contract terms as adequate
protection.
A copy of the motion is available at https://urlcurt.com/u?l=vhUr0L
from PacerMonitor.com.
About Diversified Panels Systems, Inc.
Diversified Panels manufacturers expanded polystyrene (EPS)
insulated metal panels, focusing specifically on cold storage and
agricultural facilities.
The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. C.D. Cal. Case No. 23-11112) on November
22, 2023. In the petition signed by Richard Charles Bell as CEO,
CFO & secretary, the Debtor disclosed $12,533,166 in assets and
$26,114,847 in liabilities.
Judge Ronald A. Clifford III oversees the case.
William E. Winfield, Esq., at Nelson Comis Kettle & Kinney LLP,
represents the Debtor as legal counsel.
DMG SECURITY: Court OKs Cash Collateral Access Thru Dec 5
---------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Illinois,
Eastern Division, authorized D.M.G. Security, Inc. to use cash
collateral on an interim basis in accordance with the budget,
through December 5, 2023.
The Debtor is permitted to use cash collateral to operate and
maintain its security business and making payroll and other
business expenses.
As of the Petition Date, (i) the Debtor is indebted and liable to
United Capital Funding Group, LLC, in the approximate amount
between $100,000and $150,000 for various receivable owed to the
Debtor by Chicago Transit Authority, Skytech and Steiner Security
that were factored by United.
To secure its position in the Debtor's receivables United filed a
UCC-1 Filing. The lien provides that the Debtor's equipment,
receivables, etc., are pledged as security for the moneys advanced
by United with the factoring of certain of the Debtor's
receivables.
The court said except for funds needed to fund the Budget or to pay
expenses approved by United, the Debtor will tender to United the
sum of $2000 per month, as adequate protection, commencing on
November 20, 2023 and on the 20th day of each month thereafter.
As further adequate protection, United will have additional and
replacement security interests, liens in the personal assets,
business assets and income of the Debtor, all property of the
estate acquired on or after the Petition Date.
A copy of the order is available at https://urlcurt.com/u?l=5TojAU
from PacerMonitor.com.
About D.M.G. Security, Inc.
D.M.G. Security, Inc. sought protection under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 23-15180) on
November 10, 2023.
In the petition signed by Debra M. German, president, the Debtor
disclosed up to $100,000 in assets and up to $500,000 in
liabilities.
Judge Donald R. Cassling oversees the case.
William E. Jamison, Jr. Esq., at William E. Jamison & Associates,
represents the Debtor as legal counsel.
DMVH LLC: Hires Hurtik Law & Associates as Legal Counsel
--------------------------------------------------------
DMVH LLC seeks approval from the U.S. Bankruptcy Court for the
District of Nevada to employ Hurtik Law & Associates to serve as
legal counsel in its Chapter 11 case.
The firm will provide these services:
a. advise the Debtor with respect to its powers and duties in
the continued management and operation of its business and
property;
b. attend meetings and negotiating with representatives of
creditors and other parties in interest and advising and consulting
on the conduct of the case, including all the legal and
administrative requirements of operating in Chapter 11;
c. assist the Debtor in the preparation of its schedules of
assets and liabilities and statement of financial affairs;
d. advise the Debtor in connection with any contemplated sales
of assets or business combinations, formulating and implementing
appropriate procedures with respect to the closing of any such
transactions, and counseling the Debtor in connection with such
transactions;
e. advise the Debtor in connection with any post-petition
financing arrangements and negotiating and drafting related
documents, providing advice with respect to pre-bankruptcy
financing agreements and their possible restructuring;
f. advise the Debtor on matters relating to the assumption,
rejection or assignment of unexpired leases and executor
contracts;
g. advise the Debtor with respect to legal issues arising in
or relating to its ordinary course of business, including
attendance at senior management meetings and meetings with the
Debtor's board of directors;
h. take all necessary action to protect and preserve the
Debtor's estate, including the prosecution of actions on its
behalf, the defense of any actions commenced against it,
negotiations concerning all litigation in which the Debtor is
involved, and objecting to claims filed against the Debtor's
estate;
i. prepare legal papers;
j. negotiate and prepare a Chapter 11 plan, disclosure
statement, and all related documents, and taking any necessary
action to obtain confirmation of the plan;
k. attend meetings with creditors and other third parties and
participating in negotiations;
l. appear before the bankruptcy court, any appellate courts
and the U.S. trustee; and
m. perform all other necessary legal services.
The firm will be paid at these rates:
Jonathan R. Patterson $475 per hour
Lawyers $375 to $475 per hour
Paralegals $125 to $200 per hour
The firm received from the Debtor an advance payment of $2,000.
The firm will also be reimbursed for reasonable out-of-pocket
expenses incurred.
Hurtik Law & Associates is a "disinterested person" as that term is
defined in Bankruptcy Code Section 101(14), according to court
papers filed by the firm.
The firm can be reached through:
Carrie E. Hurtik, Esq.
Hurtik Law & Associates
6767 W. Tropicana Avenue, Suite 200
Las Vegas, NV 89103
Tel: (702) 966-5200
Fax: (702) 966-5206
Email: churtik@hurtiklaw.com
About DMVH LLC
DMVH LLC, filed a Chapter 11 bankruptcy petition (Bankr. D. Nev.
Case No. 23-14026) on September 18, 2023, disclosing under $1
million in both assets and liabilities.
The Debtor is represented by HURTIK LAW & ASSOCIATES.
DOLPHIN ENTERTAINMENT: Stockholders Elect Seven Directors
---------------------------------------------------------
Dolphin Entertainment, Inc. disclosed in a Form 8-K filed with the
Securities and Exchange Commission that it held its annual meeting
of shareholders during which the Company's stockholders:
(1) elected William O'Dowd, IV, Mirta Negrini, Michael Espensen,
Nelson Famadas, Anthony Leo, Nicholas Stanham and Claudia Grillo as
directors for terms until the next succeeding annual meeting of
shareholders or until such directors' successor shall have been
duly elected and qualified; and
(2) ratified Grant Thornton LLP as the Company's independent
registered accounting firm.
About Dolphin Entertainment
Headquartered in Coral Gables, Florida, Dolphin Entertainment, Inc.
-- http://www.dolphinentertainment.com-- is an independent
entertainment marketing and premium content development company.
Through its subsidiaries, 42West LLC, The Door Marketing Group LLC
and Shore Fire Media, Ltd, the Company provides expert strategic
marketing and publicity services to many of the top brands, both
individual and corporate, in the entertainment, hospitality and
music industries.
Dolphin Entertainment reported a net loss of $4.78 million in 2022,
a net loss of $6.46 million in 2021, a net loss of $1.94 million in
2020, and net loss of $2.33 million in 2019. As of Dec. 31, 2022,
the Company had $75.37 million in total assets, $41.28 million in
total liabilities, and $34.09 million in total stockholders'
equity.
EASTGATE WHITEHOUSE: Creditor Seeks Approval of Disclosures
-----------------------------------------------------------
Barclays Bank PLC, secured creditor of Eastgate Whitehouse LLC,
filed a motion for entry of an order granting conditional approval
of Disclosure Statement.
The Debtor is a Delaware limited liability company that is the
tenant under a ground lease for real property and owns the
improvements located at 939 First Avenue (a/k/a 350 East 52nd
Street), New York, New York 10022 (the "Property").
The Plan Proponent is the Debtor's largest creditor, as the holder
of notes and mortgage evidencing a loan funded to the Debtor, as
borrower, on or about July 23, 2018, in the principal amount of
$32,100,000.00 pursuant to a Loan Agreement as secured by the
Property and related collateral (the "Loan"). As of the Petition
Date, the outstanding balance owed by the Debtor in connection with
the Loan was not less than $45,176,900.24.
The Debtor's unsecured creditor body consists primarily of the
Class Action Plaintiffs, who commenced a lawsuit (the "Class Action
Lawsuit") in 2011 before the Supreme Court of the State of New
York, New York County (the "State Court") entitled Casey, et al. v.
Whitehouse Estates, Inc., et al. (Index No. 11172/2011) on behalf
of a State-Court certified class of certain former and current
residential tenants at the Property ("Class Action Members").
The Plan Proponent filed the Plan to implement the terms negotiated
with the Class Action Representatives, on behalf of the Class
Action Plaintiffs, for settlement of the claims asserted in the
Class Action Lawsuit through mediation conducted with approval of
the Court as described in the Second Interim Report Re: Mediation.
Broadly through the Plan and as described in the Disclosure
Statement, the Plan Proponent proposes to cause the marketing and
sale of the Property following the Plan's effective date, and to
pay claims against the Debtor, including those of the Class Action
Members, from the net sale proceeds. In particular, the Plan
Proponent has agreed that $2,200,000 generated from the sale of the
Property shall be paid to Class Action Members in satisfaction of
their claims and claims for reimbursement of attorneys' fees and
expenses of the Class Action Members' counsel. The Plan Proponent,
requests that, after appropriate notice and the conclusion of the
Combined Hearing, the Court enter an order confirming the Plan, to
be submitted by Plan Proponent prior to the Combined Hearing,
which, among other things, (i) approves the adequacy of the
Disclosure Statement on a final basis and (ii) confirms the Plan
("Confirmation Order").
Through this Motion, the Plan Proponent seeks to implement a
streamlined and swift process towards confirmation of the Plan and
entry of the Confirmation Order that affords Holders of Claims and
Interests necessary notice and opportunity to be heard while
minimizing expense, with appropriate procedural safeguards in place
to provide appropriate due process to claimants with legal rights
that may potentially be impacted by entry of the Confirmation
Order. Confirmation of the Plan on a methodical timeline would also
achieve the goals of the Trustee Motion to empower independent
management over the Debtor.
Approving the following dates and deadlines to be established by
the Solicitation Procedures Order, subject to modification as
necessary, at the Court's convenience, pursuant to Section 1126,
and Bankruptcy Rule 3017, Local Rule 3017-1, and Bankruptcy Rule
3018, and Local Rule 3018-1:
* Voting Record Date will be on date the Solicitation Procedures
Order enters.
* Deadline to Serve Solicitation Package will be three days
following entry of Solicitation Procedures Order.
* Deadline to File Rule 3018(a) Motions will be ten days following
entry of Solicitation Procedures Order, at 4:00 p.m. EST.
* Deadline to Object to Rule 3018(a) Motions will be seven days
following filing/service of Rule 3018(a) Motion, at 4:00 p.m. EST
* Deadline to Object to Disclosure Statement, on Final Basis, and
Confirmation of Plan will be seven days prior to Combined Hearing
Deadline to Object to Cure Amount (defined herein) Seven days prior
to Combined Hearing Voting Deadline Seven days prior to Combined
Hearing.
* Deadline to File Voting Report will be forty-eight hours in
advance of start of Combined Hearing.
* Deadline to File Confirmation Brief and Reply to Plan
Objection(s) will be forty-eight hours in advance of start of
Combined Hearing.
* Combined Hearing Date is to be set by Court.
The Plan Proponent requests that the Disclosure Statement be
conditionally approved through entry of the Solicitation Procedures
Order for purpose of solicitation of votes relating to confirmation
of the Plan, subject to approval on a final basis at the Combined
Hearing, as among the relief requested in this Solicitation
Procedures Motion.
Attorneys for Barclays Bank PLC:
Bruce J. Zabarauskas, Esq.
Vivian M. Arias, Esq.
HOLLAND & KNIGHT LLP
31 West 52nd St.
New York, NY 10019
Tel: (212) 513-3200
E-mail: bruce.zabarauskas@hklaw.com
vivian.arias@hklaw.com
About Eastgate Whitehouse
Rye, N.Y.-based Eastgate Whitehouse, LLC, owns an apartment
building in Manhattan. Eastgate Whitehouse sought protection under
Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Case No.
22-22635) on Aug. 19, 2022. In the petition filed by its managing
member, William W. Koeppel, the Debtor reported between $10 million
and $50 million in both assets and liabilities.
Judge Sean H. Lane oversees the case.
The Debtor tapped Joel Shafferman, Esq., at Shafferman & Feldman,
LLP as bankruptcy counsel; the Law Office of Christopher J.
Alvarado, P.C., as special counsel; and Krell & Associates, CPA,
PC, as accountant.
EASTGATE WHITEHOUSE: Secured Lender Proposes Plan
-------------------------------------------------
Barclays Bank PLC, a secured creditor, filed a proposed Chapter 11
PLan and a Disclosure Statement for debtor Eastgate Whitehouse,
LLC.
The Debtor is a Delaware limited liability company which was formed
on August 7, 2014. The sole member of the Debtor is Whitehouse
Estates, Inc. ("WEI"), whose sole shareholder is William W. Koeppel
("Koeppel").
The Debtor's sole substantial asset is its interest as the tenant
under a ground lease (the "Ground Lease") and owner of the
improvements located at 939 First Avenue (a/k/a 350 East 52nd
Street), New York, New York 10022 (the "Property"). The current
ground lessor under the Ground Lease and owner of the fee interest
in the Property is 939 First Avenue LLC (the "Ground Lessor"). The
Property is a mixed use commercial/multifamily residential building
consisting of 5 commercial units, 135 residential units which the
Debtor leases to tenants, a laundry room, and a parking garage. The
Debtor's business consists solely of leasing the commercial and
residential units at the Property to various tenants, and operating
and managing the Property.
The Secured Lender Plan provides for the Sale of the Sale Assets,
which are substantially all of the Debtor's assets and the
distribution of Sale proceeds, Cash Collateral, and proceeds of
certain Litigation Claims to creditors.
The means for implementation of the Secured Lender Plan consist of:
(i) the appointment of the Plan Administrator to manage and operate
the Debtor and to execute all documents in connection with the
Class Action Settlement Agreement and the Sale or Transfer of the
Sale Assets and to pursue the Litigation Claims; (ii) the
settlement of the Class Action Lawsuit pursuant to the Class Action
Settlement Agreement; (iii) the Sale or Transfer of the Sale
Assets, and the use of the proceeds from the Sale to make
distributions to creditors under the Secured Lender Plan; (iv) the
use of Cash Collateral to make distributions on Allowed Claims to
the extent provided under the Secured Lender Plan; (v) the set-off
of Secured Lender Reserves by the Secured Lender; (vi) the funding
of a Class 5 Unsecured Creditors Reserve to ensure a distribution
on Class 5 General Unsecured Claims; (vii) any amounts required by
the Secured Lender Plan to be funded by the Secured Lender in the
event the Sale Assets are transferred to it under Section 7.5 of
the Secured Lender Plan; and (viii) the proceeds of the Litigation
Claims.
Treatment of Unsecured Claims
Under the Plan, Class 4 Claims consist of the Class Action Members
Unsecured Claims. The claims of the holders of the Class 4 Allowed
Claims will be treated pursuant to the terms of the Class Action
Settlement Agreement, a copy of which is annexed to the Secured
Lender Plan as Exhibit B, and receive the distributions provided
under the Class Action Settlement Agreement from the Class Action
Claims Administrator, subject to entry of the Class Action Order
And Final Judgment by the State Court in the Class Action Lawsuit.
Under the Secured Lender Plan, $2,200,000 is being set aside from
the Sale, or will be paid by the Secured Lender in the event of a
Transfer under Section 7.5 of the Plan, for the payment of the
Class 4 Claims, including the payment of legal fees and expenses to
lead counsel for Class Action Members in the Class Action Lawsuit.
Additionally, as more fully described in the Class Action
Settlement Agreement, and at pages 12-15 of this Disclosure
Statement, the Class Action Settlement Agreement provides that the
Debtor will release certain claims against Class Action Members who
were paying rent at the Property which was calculated at the lower
Default Rent under the Interim Rent Order instead of the amount of
Reset Rent as determined in the Court of Appeals Order based upon
the Base Date Formula, provided those Class Action Members do not
Opt-Out of the Class Action Settlement Agreement, and they are
current on all of their rent obligations to the Debtor beginning on
the Rent Adjustment Date. Those Class Action Members that do not
Opt-Out of the Class Action Settlement Agreement will also be
releasing all claims arising from the Class Action Lawsuit against,
among others, all parties to the Class Action Lawsuit, Barclays and
any purchaser of the Debtor's interest in the Property and any
subsequent purchasers thereof, all as described in further detail
in Section IX of this Disclosure Statement, subject to the State
Court's approval of the Class Action Settlement Agreement and entry
of the Class Action Order and Final Judgment.
Notwithstanding anything to the contrary contained in the Plan: (i)
any holder of a Class 4 Claim that Opt-Out of the Class Action
Settlement Agreement will not receive a distribution under the
Class Action Settlement Agreement and will be treated as the holder
of a Class 5 Claim under the Secured Lender Plan, and the Plan
Administrator will retain all claims and Causes of Action against
the holder of such Claim who has elected to Opt-Out of the Class
Action Settlement Agreement; and (ii) any holder of a Class 4 Claim
that has voted to accept the plan on its Ballot will be deemed to
have agreed not to Opt-Out of the Class Action Settlement, provided
that any vote cast by counsel for the Class Representatives on
behalf of a Class Action Member will not waive the right of such
Class Action Member to Opt-Out of the Class Action Settlement
Agreement. The treatment provided in the Class Action Settlement
Agreement will be in full and complete satisfaction of the Class
Action Proof Of Claim and the Claims of the Class Action Members.
The amount to be paid to Class Action Claims Administrator from the
Sale Assets pursuant to the Class Action Settlement Agreement will
be $2,200,000. The ultimate percentage distribution to holders of
Class 4 Allowed Claims are unknown at this time because it will
depend upon the total amount of claims filed by the holders of the
Class 4 Claims with the Class Action Claims Administrator under the
Class Action Settlement Agreement, and the amount of legal fees and
expenses awarded to counsel for the Class Action Members in the
Class Action Lawsuit.
Class 4 is impaired under the Secured Lender Plan and holders of
Class 4 Claims are entitled to vote on the Secured Lender Plan.
The Class 5 Claims consist of the General Unsecured Claims against
the Debtor, except for the Class Action Members' Unsecured Claims,
and Subordinated General Unsecured Claims. The Secured Lender Plan
provides that no later than 30 days after the later of the (i)
Claims Resolution Date, (ii) the date of entry of the Class Action
Order And Final Judgment and (iii) the Closing Date, the Plan
Administrator will pay any proceeds from the Sale which remain
after the payments made pursuant to holders of Administrative
Claims, Priority Claims, Class 1, Class 2 and Class 3 Claims under
the Secured Lender Plan and the funding of the Class Action
Settlement Amount pursuant to Class 4, to the holders of the Class
5 Allowed Claims on a pro-rata basis up to 100% of their Allowed
Claims; provided however, that if the amount of proceeds from the
Sale are insufficient to pay the Class 5 Allowed Claims a
distribution of at least 5% of Class 5 Allowed Claims, or if the
Sale Assets are transferred to the Secured Lender pursuant to
Section 7.5 of the Secured Lender Plan, then no later than no later
than 30 days after the later of the (A) Claims Resolution Date, (B)
the date of entry of the Class Action Order And Final Judgment and
(C) the Closing Date, the Plan Administrator will pay the funds in
the Class 5 General Unsecured Claim Reserve ($25,000) to the
holders of the Class 5 Allowed Claims on a pro-rata basis.
The Plan Administrator will also pay any proceeds of the Litigation
Claims minus the Plan Administrator's reasonable fees and expenses
approved by the Court of asserting and litigating those claims,
which remain after the Class 1 Allowed Claims is paid in full to
the holders of Class 5 Allowed Claims on a pro-rata basis. Any such
payment(s) will be made within 30 days after the later of: (I) the
date the Class 1 Claim is paid in full; (II) the Claims Resolution
Date; (III) the date of entry of the Class Action Order and Final
Judgement; (IV) the Closing Date; and (V) the Plan Administrator's
receipt of such funds.
In no event will the distribution to holders of Class 5 Allowed
Claims exceed 100% of their Allowed Claims. As part of the Secured
Lender Plan, and to the extent that the Secured Lender holds a
Class 5 Claim, the Secured Lender has agreed to waive any
distribution from the Class 5 Unsecured Claims Reserve, but retains
its right to vote such claim in connection with the Secured Lender
Plan and retains all rights to seek payment of the deficiency from
Koeppel and any other appropriate non-Debtor party. The treatment
provided herein will be in full and complete satisfaction of all
Claims held by the holders of Class 5 Claims.
Class 5 is impaired under the Secured Lender Plan and is entitled
to vote on the Secured Lender Plan. The total amount of general
unsecured claims scheduled by the Debtor or evidenced by a proof of
claim held by non-insider or affiliates of the Debtor is
$531,102.45, and the total amount of insider or affiliate claims is
$5,400,000, which are claims filed by Debtor's insiders and
affiliates. Based on the foregoing, it is estimated that if
purchase price of the Sale Assets is less than the amount of the
Class 1 Allowed Claim, holders of Class 5 Claims will receive
approximately 4.7% on their claims if the insider or affiliate
claims are disallowed or subordinated, or 0.42% on their claims if
insider and affiliate claims are not disallowed or subordinated,
plus the amount of any distribution of proceeds of the Litigation
Claims.
Class 6 Claims consist of those General Unsecured Claims which are
subordinated by order or judgment of the Bankruptcy Court. The
Secured Lender Plan provides that no later than thirty (30) days
after the later of the (i) Claims Resolution Date, (ii) the date of
entry of the Class Action Order And Final Judgment and (iii) the
Closing Date, the Plan Administrator will pay any remaining
proceeds from the Sale after the payments are made in full to
holders of Administrative Claims, Priority Claims, Class 1, Class
2, Class 3, Class 4 and Class 5 Claims under the Secured Lender
Plan, to the holders of the Class 6 Allowed Claims on a pro-rata
basis up to 100% of their Allowed Claims. This treatment will be in
full and complete satisfaction of all Claims held by the holders of
Class 6 Claims.
The Plan Administrator will also pay any proceeds of the Litigation
Claims minus the Plan Administrator's reasonable fees and fees and
expenses approved by the Court of asserting and litigating those
claims which remain after the Class 1 Allowed Claim and Class 5
Allowed Claims are paid in full to the holders of Class 6 Allowed
Claims on a pro-rata basis. Any such payment(s) will be made within
thirty (30) days after the later of: (A) the date the Class 1 Claim
and Class 5 Claims are paid in full; (B) the Claims Resolution
Date; (C) the date of entry of the Class Action Order and Final
Judgement; (D) the Closing Date; and (E) the Plan Administrator's
receipt of such funds.
There are currently no Class 6 Claims. It is anticipated that,
Secured Lender or the Plan Administrator will be commencing
proceedings to disallow or subordinate the claims of William
Koeppel and WWK 140 Bay Bridge, LLC on the grounds that that such
Persons and entities are affiliates of the Debtor and such alleged
claims were incurred in violation of the Debtor's operating
agreement and were ultra vires. Therefore such claims should either
be disallowed or subordinated to all other claims in this Chapter
11 case. The amount of any recovery on Class 6 Claims is unknown.
Class 6 is impaired and is entitled to vote on the Secured Lender
Plan.
Attorneys for Barclays Bank PLC:
Bruce J. Zabarauskas, Esq.
Vivian M. Arias, Esq.
HOLLAND & KNIGHT LLP
31 West 52nd St.
New York, NY 10019
Tel: (212) 751-3001
Email: bruce.zabarauskas@hklaw.com
vivian.arias@hklaw.com
A copy of the Disclosure Statement dated November 17, 2023, is
available at https://tinyurl.ph/RcvgB from PacerMonitor.com.
About Eastgate Whitehouse
Rye, N.Y.-based Eastgate Whitehouse, LLC, owns an apartment
building in Manhattan. Eastgate Whitehouse sought protection under
Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Case No.
22-22635) on Aug. 19, 2022. In the petition filed by its managing
member, William W. Koeppel, the Debtor reported between $10 million
and $50 million in both assets and liabilities.
Judge Sean H. Lane oversees the case.
The Debtor tapped Joel Shafferman, Esq., at Shafferman & Feldman,
LLP as bankruptcy counsel; the Law Office of Christopher J.
Alvarado, P.C. as special counsel; and Krell & Associates, CPA, PC
as accountant.
EDB PARENT: Goldman Sachs Marks $7.5MM Loan at 65% Off
------------------------------------------------------
Goldman Sachs BDC, Inc has marked its $7,591,000 loan extended to
EDB Parent, LLC (dba Enterprise DB) to market at $2,653,000 or 35%
of the outstanding amount, as of September 30, 2023, according to
Goldman Sachs's Form 10-Q for the Quarterly period ended, September
30, 2023, filed with the Securities and Exchange Commission on
November 7, 2023.
Goldman Sachs BDC is a participant in a First Lien Last Out
Unitranched Loan to EDB Parent, LLC (dba Enterprise DB). The loan
accrues interest at a rate of 12.14% (S+6.75%) per annum. The loan
matures on July 7, 2028.
Goldman Sachs BDC classified the loan on non-accrual status and as
a non-income producing security.
Goldman Sachs BDC was initially established as Goldman Sachs
Liberty Harbor Capital, LLC, a single member Delaware limited
liability company, on September 26, 2012 and commenced operations
on November 15, 2012 with The Goldman Sachs Group, Inc. as its sole
member. On March 29, 2013, the Company elected to be regulated as a
business development company under the Investment Company Act of
1940, as amended. Effective April 1, 2013, the Company converted
from a SMLLC to a Delaware corporation.
In addition, the Company has elected to be treated as a regulated
investment company under Subchapter M of the Internal Revenue Code
of 1986, as amended, commencing with its taxable year ended
December 31, 2013. Goldman Sachs Asset Management, L.P., a Delaware
limited partnership and an affiliate of Goldman Sachs & Co. LLC, is
the investment adviser of the Company.
EDB Parent, LLC, does business as Enterprise DB.
EnterpriseDB, a privately held company based in Massachusetts,
provides software and services based on the open-source database
PostgreSQL, and is one of the largest contributors to Postgres.
ELMWOOD HEIGHTS: Hires Davidoff Hutcher as Legal Counsel
--------------------------------------------------------
Elmwood Heights LLC seeks approval from the U.S. Bankruptcy Court
for the Southern District of New York to employ Davidoff Hutcher &
Citron LLP as counsel.
The firm will provide these services:
a. give advice to the Debtor with respect to its powers and
duties as Debtor-in-Possession and the continued management of its
property and affairs;
b. negotiate with creditors of the Debtor and work out a plan of
reorganization and take the necessary legal steps in order to
effectuate such a plan including, if need be, negotiations with the
creditors and other parties in interest;
c. prepare the necessary answers, orders, reports and other
legal papers required for a debtor who seeks protection from its
creditors under Chapter 11 of the Bankruptcy Code;
d. appear before the Bankruptcy Court to protect the interest of
the Debtor and to represent the Debtor in all matters pending
before the Court;
e. attend meetings and negotiate with representatives of
creditors and other parties in interest;
f. advise the Debtor in connection with any potential
refinancing of secured debt and any potential sale of the
business;
g. represent the Debtor in connection with obtaining
post-petition financing;
h. take any necessary action to obtain approval of a disclosure
statement and confirmation of a plan of reorganization; and
i. perform all other legal services for the Debtor which may be
necessary for the preservation of the Debtor's estate and to
promote the best interests of the Debtor, its creditors and the
estates.
The firm will be paid at these rates:
Attorneys $450 to $850 per hour
Paraprofessionals $195 to $260 per hour
The firm will also be reimbursed for reasonable out-of-pocket
expenses incurred.
Jonathan S. Pasternak, Esq., a partner at Davidoff Hutcher & Citron
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:
Jonathan S. Pasternak, Esq.
Davidoff Hutcher & Citron LLP
120 Bloomingdale Road, Suite 100
White Plains, NY 10605
Tel: (914) 381-7400
About Elmwood Heights LLC
Elmwood Heights LLC is a Single Asset Real Estate (as defined in 11
U.S.C. Sec. 101 (51B)).
Elmwood Heights LLC filed a petition for relief under Chapter 11 of
the Bankruptcy Code (Bankr. S.D.N.Y. Case No. 23-22255) on April 3,
2023. In the petition filed by Mary Schneck, as officer, the Debtor
reported assets and liabilities between $1 million and $10 million.
EMERGENT BIOSOLUTIONS: Gets NYSE Notice of Delayed Form 10-Q Filing
-------------------------------------------------------------------
Emergent BioSolutions Inc. confirmed that the New York Stock
Exchange sent a notice that the company is not in compliance with
Section 802.01E of the NYSE Listed Company Manual due to a delay in
filing its Quarterly Report on Form 10-Q for the quarter ended
Sept. 30, 2023 with the Securities and Exchange Commission.
Notices are routinely issued by the NYSE in such situations.
Under the NYSE's rules, Emergent will have six months from Nov. 9,
2023 to file the Form 10-Q with the SEC, and can regain compliance
with the NYSE listing standards upon filing the Form 10-Q.
As previously disclosed in the Company's Form 12b-25 filed with the
SEC on Nov. 9, 2023, the Company is working to quantify and
evaluate the impact to its reporting regarding past period state
deferred tax liability and income tax benefits. Because these
items also affect subsequent period reporting, the Company must
complete this work prior to finalizing its financial statements for
the three and nine months ended Sept. 30, 2023 and filing its third
quarter Form 10-Q. Emergent is unable to provide a complete
estimate of its results of operations for the three- and nine-month
periods ended Sept. 30, 2023 while it finalizes the state tax
adjustments referenced above. In addition, Emergent is continuing
to assess the impact of these adjustments on prior periods and
accordingly is unable to provide a comparison of its current
results to the three- and nine-month periods ended Sept. 30, 2023.
About Emergent Biosolutions
Headquartered in Gaithersburg, MD, Emergent Biosolutions Inc. is a
global life sciences company focused on providing innovative
preparedness and response solutions addressing accidental,
deliberate and naturally occurring public health threat. The
Company's solutions include a product portfolio, a product
development portfolio, and a contract development and manufacturing
("CDMO") services portfolio.
Tysons, Virginia-based Ernst & Young LLP, the Company's auditor
since 2004, issued a "going concern" qualification in its report
dated March 1, 2023, citing that the Company does not expect to be
in compliance with debt covenants in future periods without
additional sources of liquidity or future amendments to its Credit
Agreement, has a working capital deficiency, and has stated that
substantial doubt exists about the Company's ability to continue as
a going concern.
EMPLOYBRIDGE LLC: $925MM Bank Debt Trades at 18% Discount
---------------------------------------------------------
Participations in a syndicated loan under which Employbridge LLC is
a borrower were trading in the secondary market around 82.3
cents-on-the-dollar during the week ended Friday, November 24,
2023, according to Bloomberg's Evaluated Pricing service data.
The $925 million facility is a Term loan that is scheduled to
mature on July 19, 2028. The amount is fully drawn and
outstanding.
Employbridge, LLC operates as an industrial staffing company. The
Company offers temporary associates in manufacturing, logistics,
warehousing, and contact centers.
ESCEE DELIVERY: Seeks to Hire Lane Law Firm PLLC as Counsel
-----------------------------------------------------------
Escee Delivery LLC seeks approval from the U.S. Bankruptcy Court
for the Northern District of Texas to employ The Lane Law Firm,
PLLC as counsel.
The firm will provide these services:
a. assist, advise and represent the Debtor relative to the
administration of the chapter 11 case;
b. assist, advise and represent the Debtor in analyzing the
Debtor's assets and liabilities, investigating the extent and
validity of lien and claims, and participating in and reviewing any
proposed asset sales or dispositions;
c. attend meetings and negotiate with the representatives of
the secured creditors;
d. assist the Debtor in the preparation, analysis and
negotiation of any plan of reorganization and disclosure statement
accompanying any plan of reorganization;
e. take all necessary action to protect and preserve the
interests of the Debtor;
f. appear, as appropriate, before this Court, the Appellate
Courts, and other Courts in which matters may be heard and to
protect the interests of Debtor before said Courts and the United
States Trustee; and
g. to perform all other necessary legal services in these
cases.
The firm will be paid at these rates:
Robert C. Lane, Partner $595 per hour
Joshua Gordon $550 per hour
Associate Attorneys $500 per hour
Paralegals/Legal Assistants $150 to $250 per hour
The firm received from the Debtor a retainer of $30,000.
The firm will also be reimbursed for reasonable out-of-pocket
expenses incurred.
Robert C. Lane, Esq., a partner at The Lane Law Firm, PLLC,
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:
Robert C. Lane, Esq.
Joshua D. Gordon, Esq.
A. Zachary Casas, Esq.
The Lane Law Firm, PLLC
6200 Savoy, Suite 1150
Houston, TX 77036
Tel: (713) 595-8200
Fax: (713) 595-8201
Email: notifications@lanelaw.com
Joshua.gordon@lanelaw.com
zach.casas@lanelaw.com
About Escee Delivery LLC
ESCEE Delivery LLC sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. N.D. Tex. Case No. 23-43451-mxm11) on
November 8, 2023. In the petition signed by Steven Sparks,
president, the Debtor disclosed up to $50,000 in assets and up to
$500,000 in liabilities.
Judge Mark X. Mullin oversees the case.
Robert C Lane, Esq., at The Lane Law Firm, represents the Debtor as
legal counsel.
EVOLUTION MICRO: Court OKs Cash Collateral Access Thru Dec 13
-------------------------------------------------------------
The U.S. Bankruptcy Court for the Middle District of Florida,
Orlando Division, authorized Evolution Micro, LLC to use cash
collateral on an interim basis in accordance, with the budget, with
a 10% variance through December 13, 2023.
Subject to the provisions of the order, the Debtor is authorized to
use cash collateral to pay: (a) amounts expressly authorized by the
Court, including payments to the Subchapter V Trustee and payroll
obligations incurred post-petition in the ordinary course of
business; (b) the current and necessary expenses set forth in the
budget, plus an amount not to exceed 10% for each line item; and
(c) additional amounts as may be approved in writing by the United
Stales Small Business Administration.
SBA may hold a first-position security interest in the Debtor's
cash and/or cash equivalents.
Secured Lender Solutions, De Lage Landen Financial Services, Inc.,
Cadence Bank, N.A., Funding Circle, LLC, and/or Wells Fargo Bank,
N.A. are the holders of inferior position security interests in the
Debtor's cash, accounts and cash equivalents.
As adequate protection for the use of cash collateral, the Secured
Creditors are granted a perfected post-petition lien against cash
collateral to the same extent and with the same validity and
priority as the prepetition lien, without the need to file or
execute any documents as may otherwise be required under applicable
nonbankruptcy law.
The Debtor will maintain insurance coverage for its property in
accordance with the obligations under all applicable loan and
security documents.
A continued hearing on the matter is set for December 13 at 11:15
a.m.
A copy of the order is available at https://urlcurt.com/u?l=HtrOf7
from PacerMonitor.com.
About Evolution Micro, LLC
Evolution Micro, LLC sought protection under Chapter 11 of the
U.S.Bankruptcy Code (Bankr. M.D. Fla. Case No. 23-04081) on
September 29, 2023.
In the petition signed by Fazleabbas Khaki, member, the Debtor
disclosed up to $10 million in both assets and liabilities.
Judge Tiddaay P. Geyet oversees the case.
Justin M. Luna, Esq. , at Latham Luna Eden & Beaudine LLP,
represents the Debtor as legal counsel.
EXOD ARCH: Case Summary & Three Unsecured Creditors
---------------------------------------------------
Debtor: Exod Arch Inc.
50 Bridge Street, Apt. 620
Brooklyn, NY 11201
Chapter 11 Petition Date: November 26, 2023
Court: United States Bankruptcy Court
Eastern District of New York
Case No.: 23-44283
Judge: Hon. Jil Mazer-Marino
Debtor's Counsel: Rachel S. Blumenfeld, Esq.
LAW OFFICE OF RACHEL S. BLUMENFELD PLLC
26 Court Street
Suite 2220
Brooklyn, NY 11242
Tel: 718-858-9600
Email: rachel@blumenfeldbankruptcy.com
Total Assets: $1,822
Total Liabilities: $4,618,000
The petition was signed by Anthony D. Rodrigo as owner.
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/LVS5W3Y/Exod_Arch_Inc__nyebke-23-44283__0001.0.pdf?mcid=tGE4TAMA
EYECARE PARTNERS: $440MM Bank Debt Trades at 47% Discount
---------------------------------------------------------
Participations in a syndicated loan under which Eyecare Partners
LLC is a borrower were trading in the secondary market around 52.8
cents-on-the-dollar during the week ended Friday, November 24,
2023, according to Bloomberg's Evaluated Pricing service data.
The $440 million facility is a Term loan that is scheduled to
mature on November 15, 2028. 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.
FAT DADDY: Court OKs Cash Collateral Access Thru Nov 29
-------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Ohio
authorized Fat Daddy Co. to use cash collateral on an interim basis
in accordance with the budget, through November 29, 2023.
The Debtor asserts that following entities have or may have a
prepetition lien on the Debtor’s cash collateral:
a. Crediby of Arizona in the amount of $62,442
b. Proventure Capital LLC in the amount of $27,000(disputed)
c. Alpine Advance 5 LLC in the amount of $64,457
d. Capify Capital in the amount of $ unknown
e. Cardinal Funding Group in the amount of $30,000
f. Blade Funding in the amount of $83,021.
g. Diesel Funding LLC in the amount of $28,366
i. EBF Holdings, LLC dba Everest Business Funding in the
amount of $80,000.
j. Reef Funding in the amount of $60,304
k. Square Funding in the amount of $97,435
l. Wynwood Capital in the amount of $60,842
m. Delta Capital the amount is unknown
n. CT Corporation System, as Agent the amount and creditor is
unknown
o. Corporation Service Company, as Agent the amount and
creditor is unknown
The Debtor asserts that it is unable to determine who would be in
the first position with regard to perfection of the security
interests on the items subject to the cash collateral order for the
reason that the initial filing was by CT Corporation as agent, with
no indication as to the party for whom they were agent.
As adequate protection, the Prepetition Lenders are granted valid,
binding, enforceable and perfected postpetition replacement liens
on the Debtor's post-petition property in the same validity,
priority, and extent as they existed before the Petition Date, and
additional liens solely to the extent of any diminution of the
Prepetition Lenders' Collateral, in all of the Debtor's assets.
A copy of the order is available at https://urlcurt.com/u?l=GvUTEh
from PacerMonitor.com.
About Fat Daddy Co.
Fat Daddy Co. sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. N.D. Ohio Case No 23-61331-tnap) on
November 9, 2023. In the petition signed by Matthew C. Webster,
president, the Debtor disclosed up to $50,000 in assets and up to
$1 million in liabilities.
Judge Tiiara N.A. Patton oversees the case.
Edwin H. Breyfogle, Esq. represents the Debtor as legal counsel.
FIG & FENNEL: Wins Cash Collateral Access Thru Dec 15
-----------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of Florida,
Fort Lauderdale Division, authorized Fig & Fennel at MIA, LLC and
affiliates to use cash collateral on an interim basis, through
December 15, 2023.
Newtek Small Business Finance, Inc., the United States Small
Business Administration, BMO Harris Bank, N.A., American Express
National Bank, Channel Partners Capital, LLC, Leaf Capital Funding,
LLC, Hallandale Beach CRA, and the LCF Group, Inc. assert an
interest in the Debtor's cash collateral.
The Debtor is permitted to use cash collateral to pay all ordinary
and necessary expenses in the ordinary course of their businesses
consistent with the budget, with a 10% variance.
In addition to the existing rights and interests of Newtek, the
SBA, and the Other Secured Parties in the Cash Collateral and for
the purpose of adequately protecting it from Collateral Diminution,
the Debtors may make interest only adequate protection payments to
Newtek.
Newtek, the SBA, and the Other Secured Parties are granted valid,
enforceable, fully-perfected, security interests to the extent that
said Pre-Petition Liens were valid, perfected and enforceable as of
the Petition Date.
A further interim hearing on the matter is set for December 13 at
1:30 p.m.
A copy of the order is available at https://urlcurt.com/u?l=Zi3EJZ
from PacerMonitor.com.
About Fig & Fennel at MIA, LLC
Fig & Fennel at MIA, LLC and affiliates are owners and operators of
restaurants offering a broad selection of grab-and-go sandwiches,
salads, bowls, snacks, desserts, and more.
The Debtors sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. S.D. Fla. Lead Case No. 23-18515) on
October 18, 2023. In the petition signed by Robert Siegmann,
manager, the Debtor disclosed $2,956,271 in total assets and
$523,057 in total liabilities.
Judge Scott M. Grossman oversees the case.
Adam Leichtling, Esq., at Lapin & Leichtling, LLP, represents the
Debtor as legal counsel.
FOX SUBACUTE: Clara Burke and Warrington Propose Liquidating Plan
-----------------------------------------------------------------
Fox Subacute At Clara Burke, Inc. and Fox Subacute At Warrington
submitted a Third Amended Disclosure Statement in support of
Debtors' Joint Plan of Liquidation.
When the Cases were filed, there were 4 Debtors. This Plan only
applies to 2 of the Debtors, Clara Burke and Warrington. The first
Debtor formed is Fox Subacute Nursing Homes d/b/a Fox Subacute at
Warrington, which was formed in 1982 as a Pennsylvania business
corporation and Fox Subacute at Clara Burke, Inc., was formed as a
Pennsylvania business corporation in 2001. Fox Subacute at
Mechanicsburg ("Mechanicsburg") and South Philadelphia ("South
Philadelphia") are limited liability companies. Mechanicsburg was
formed in 2008 and South Philadelphia was formed in approximately
2016.
At the time of the filing, each of the Debtors had considerable
Accounts Receivable. The amounts of the Accounts Receivable for
each Debtor are:
Clara Burke $3,096,511.92
Warrington $4,874,660.97
The collectable receivables are believed to be at most,
approximately:
Clara Burke $2,300,000
Warrington $2,800,000
It should be noted, however, that a portion of the Receivables are
owed and are uncollectable, particularly with respect to
Warrington. The amount of uncollectable Receivables could be in
excess of $4,000,000, respectively with respect to Clara Burke and
Warrington. These uncollectible receivables are from several years
ago. All of the collectable Receivables have generally been
collected, except for a large Receivable owed to Warrington of
approximately $300,000 to $400,000, on which payment is expected.
Each of the Debtors had similar amounts of office equipment,
furniture and computer equipment having a minimal value of
approximately $2,000 to $10,000,00 each. Much of such equipment has
either been turned over to Sabra on account of its ownership of
such equipment or has been sold to Sabra pursuant to the Sale
Motion. Under the Clara Burke and Warrington Lease with Sabra,
Sabra retained ownership of certain of the Personal Property of
such Debtors.
Each of the Debtors also has portable and movable equipment having
a value of $200,000 for each Debtor. Such equipment has either been
turned over to Sabra on account of its ownership of such equipment
or has been sold to Sabra pursuant to the Sale Motion.
Each Debtor maintained various supplies of inventory which varies
in amount depending upon usage. The amount of the inventory was
approximately $150,000 for each Facility as of the Petition Date.
When each Facility of Clara Burke and Warrington closed, the
inventory is no longer in existence.
At the time of the Petition, Clara Burke has 3 Vehicles consisting
of a 2005 Ford Eldorado, 2007 Kia Sedona and a 2014 Buick LaCrosse.
These Vehicles have a nominal value of approximately $4,000. Such
Vehicles have been sold to Sabra under the Sale Motion and Sale
Order.
At the time of the Petition, each of Clara Burke and Warrington had
cash on hand. The cash on hand consists of, as of the Petition
Date:
Clara Burke $200,000
Warrington $500,000
Prior to implementation of the Settlement Agreement, Clara Burke
had approximately $1,435,000 in cash. Warrington had approximately
$800,000 in cash. There is also $348,086 held in escrow with
respect to certain claims of Montgomery SNF Operator, LLC
concerning funds believed to be those of Clara Burke. Under the
Settlement Agreement, PeoplesBank is to receive $700,000 and Sabra
is to receive $1,100,000, in full settlement of each of their
respective secured Claims. This will reduce the cash on hand
accordingly.
Under the Plan, the Classes 6A and 6B general unsecured creditors
include all creditors not otherwise classified under the Plan.
Claims arising from these Claims include all such creditors
notwithstanding the nature of the categorization of any Claim by a
creditor, except Claims from Personal Injury Suits.
The general unsecured creditors of Clara Burke and Warrington under
the Plan are jointly receiving the GUC Carveout from Sabra in an
amount equal to the greater of: (a) the amount recovered from the
Creditors Committee Litigation against Emerald Green Landscaping
plus 50% of the amount recovered in the Creditors Committee
Litigation against Fox Subacute Management; or (b) $100,000. There
is a maximum amount recovered by the Committee as the carveout from
the Creditors Committee Litigation of $406,240 (the "GUC
Carveout"). These classes are impaired.
Each of Clara Burke and Warrington have sold all of their tangible
Assets. All that remains are Accounts Receivable, primarily a
Receivable in favor of Warrington for $300,000.00 to $400,000.00,
as well as miscellaneous other Receivables, together with cash on
hand.
The Accounts Receivable and the cash on hand will be used, in part,
to fund the payments under the Settlement Agreement and thereafter
to fund additional payments under the Plan.
Because this is a Liquidation Plan, no projections are filed.
Debtors' Counsel:
Robert E. Chernicoff, Esq.
CUNNINGHAM, CHERNICOFF & WARSHAWSKY, P.C.
2320 North Second Street
P.O. Box 60457
Harrisburg, PA 17106-0457
Tel: (717) 238-6570
A copy of the Disclosure Statement dated November 17, 2023, is
available at https://tinyurl.ph/llaYD from PacerMonitor.com.
About Fox Subacute at Mechanicsburg
Fox Subacute at Mechanicsburg, LLC is a skilled nursing facility in
Pennsylvania that specializes in pulmonary, neurological, and
rehabilitative care for patients with degenerative neurological and
neuromuscular disease; and pulmonary care and ventilator
requirements with an emphasis on vent weaning. Its facilities are
located in Plymouth Meeting, Warrington, Mechanicsburg and
Philadelphia, Pa., and are licensed by the PA Department of
Health.
On Nov. 1, 2019, Fox Subacute at Mechanicsburg and its affiliates
sought Chapter 11 protection (Bankr. M.D. Pa. Lead Case No.
19-04714). Fox Subacute at Mechanicsburg was estimated to have $1
million to $10 million in assets and liabilities as of the
bankruptcy filing. The debtor-affiliates are Fox Nursing Home Corp.
d/b/a Fox Subacute at Warrington; Fox Subacute at Clara Burke,
Inc.; and Fox Subacute at South Philadelphia, LLC.
Judge Henry W. Van Eck oversees the cases.
The Debtors tapped Cunningham, Chernicoff & Warshawsky, P.C. as
their legal counsel, Kennedy P.C. as special counsel, Isdaner &
Company, LLC as accountant, and Three Twenty-One Capital Partners,
LLC as investment banker.
The Office of the U.S. Trustee appointed an official committee of
unsecured creditors on Dec. 11, 2019. The committee is represented
by Flaster/Greenberg P.C.
FRANCHISE GROUP: $1BB Bank Debt Trades at 23% Discount
------------------------------------------------------
Participations in a syndicated loan under which Franchise Group Inc
is a borrower were trading in the secondary market around 77.5
cents-on-the-dollar during the week ended Friday, November 24,
2023, according to Bloomberg's Evaluated Pricing service data.
The $1 billion facility is a Term loan that is scheduled to mature
on March 10, 2026. About $772.3 million of the loan is withdrawn
and outstanding.
Franchise Group, Inc., through its subsidiaries, operates
franchised and franchisable businesses including The Vitamin
Shoppe, Pet Supplies Plus, LLC, Badcock Home Furniture & More,
American Freight, Buddy's Home Furnishings and Sylvan Learning
Systems, Inc. Revenue exceeded $4.3 billion for the 12-month period
ended July 1, 2023.
FRANCHISE GROUP: $300MM Bank Debt Trades at 23% Discount
--------------------------------------------------------
Participations in a syndicated loan under which Franchise Group Inc
is a borrower were trading in the secondary market around 77.5
cents-on-the-dollar during the week ended Friday, November 24,
2023, according to Bloomberg's Evaluated Pricing service data.
The $300 million facility is a Term loan that is scheduled to
mature on March 10, 2026. About $298.5 million of the loan is
withdrawn and outstanding.
Franchise Group, Inc., through its subsidiaries, operates
franchised and franchisable businesses including The Vitamin
Shoppe, Pet Supplies Plus, LLC, Badcock Home Furniture & More,
American Freight, Buddy's Home Furnishings and Sylvan Learning
Systems, Inc. Revenue exceeded $4.3 billion for the 12-month period
ended July 1, 2023.
FREE SPEECH: Hook Shooting Victims Offer 2 Ways Out of Chapter 11
-----------------------------------------------------------------
Alex Wolf of Bloomberg Law reports that Sandy Hook Elementary
School shooting victims' families proposed that conspiracy theorist
Alex Jones wind up his bankruptcy by paying creditors at least $85
million over 10 years or undergo an orderly liquidation.
The Sandy Hook families, along with an official committee of Jones'
creditors, argued in court papers Wednesday, Nov. 22, 2023, that
the 11-month-long bankruptcy case for the right-wing radio host
should be brought to a close by February 2024. The creditors laid
out a dual-option proposal in light of what they say is Jones'
failure to advance a viable way out of Chapter 11 while continuing
to enjoy an extravagant lifestyle costing up to $90,000 a month.
The plan, as described to the US Bankruptcy Court for the Southern
District of Texas, would allow Jones to undergo an orderly
liquidation of his assets or adhere to a 10-year fixed-payment plan
with distributions of at least $8.5 million a year. Under the
fixed-payment plan, the creditors would agree to release their
roughly $1.5 billion in state court judgment awards stemming from
Jones' repeated lies that the 2012 massacre of elementary school
students and teachers was a hoax.
Both options contemplate preserving causes of actions against third
parties affiliated with Jones and his Infowars program.
"The time has come for Jones to choose whether he is willing to pay
his creditors a reasonable portion of what they are owed or would
prefer to remain embroiled in costly and time-consuming litigation
for years to come," the group said. "Whatever alternative Jones
chooses, the Creditors' Plan provides a clear path out of the
quagmire of these cases."
In a Nov. 21 court filing, Jones' attorneys said they were made
aware of a forthcoming creditor plan proposal and asked to schedule
a status conference on November 27, 2023 to discuss a path forward.
Jones’ legal team says it's time to bring the case to a
conclusion, and is working on filing its own draft plan by
mid-December 2023, the filing said.
An attorney for Jones didn't immediately respond to a request for
comment Friday, November 24, 2023.
The Sandy Hook families gained significant leverage in the
bankruptcy case last month when Bankruptcy Judge Christopher Lopez
ruled that about $1.1 billion in defamation awards were not
dischargeable because they stemmed from intentional and malicious
conduct.
Jones' bankruptcy in December 2022 came five months after the
parent company to his Infowars show, Free Speech Systems LLC, filed
for Chapter 11 relief.
The case is In re Alexander E. Jones, Bankr. S.D. Tex., No.
22-33553, statement 11/22/23.
About Free Speech Systems
Free Speech Systems LLC is a broadcast media production and
distribution company that provides broadcasting aural programs by
radio to the public. Free Speech Systems is a family-run business
founded by Alex Jones.
FSS is presently engaged in the business of producing and
syndicating Jones' radio and video talk shows and selling products
targeted to Jones' loyal fan base via the Internet. Today, FSS
produces Alex Jones' syndicated news/talk show (The Alex Jones
Show) from Austin, Texas, which airs via the Genesis Communications
Network on over 100 radio stations across the United States and via
the internet through websites including Infowars.com.
Due to the content of Alex Jones' shows, Jones and FSS have faced
an all-out ban of Infowars from mainstream online spaces. Shunning
from financial institutions and banning Jones and FSS from major
tech companies began in 2018.
Conspiracy theorist Alex Jones has been sued by victims' family
members over Jones' lies that the 2012 Sandy Hook Elementary School
shooting was a hoax.
Jones' InfoW LLC and affiliates, IWHealth, LLC and Prison Planet
TV, LLC, filed petitions under Chapter 11, Subchapter V of the
Bankruptcy Code (Bankr. S.D. Texas Lead Case No. 22-60020) on April
18, 2022.
The Debtors agreed to the dismissal of the Chapter 11 cases in June
2022 after the Sandy Hook victim families dismissed the three
bankrupt companies from their lawsuits.
Free Speech Systems filed a voluntary petition for relief under
Subchapter V of Chapter 11 of the Bankruptcy Code (Bankr. S.D. Tex.
Case No. 22-60043) on July 29, 2022. In the petition filed by W.
Marc Schwartz, as chief restructuring officer, the Debtor reported
assets and liabilities between $50 million and $100 million.
Melissa A Haselden has been appointed as Subchapter V trustee.
Alexander E. Jones filed for personal bankruptcy under Chapter 11
of the Bankruptcy Code (Bankr. S.D. Tex. Case No. 4:22-bk-60043) on
Dec. 2, 2022, listing $1 million to $10 million in assets against
liabilities of $1 billion to $10 billion in liabilities.
Raymond William Battaglia, of Law Offices of Ray Battaglia, PLLC,
is FSS's counsel. Raymond W. Battaglia and Crowe & Dunlevy, P.C.,
led by Vickie L. Driver, Christina W. Stephenson, Shelby A. Jordan,
and Antonio Ortiz are representing Alex Jones.
FREEDOM PLUMBERS: Wins Cash Collateral Access on Final Basis
------------------------------------------------------------
The U.S. Bankruptcy Court for the Eastern District of Virginia,
Alexandria Division, authorized Freedom Plumbers Corporation to use
cash collateral on a final basis in accordance with the budget,
through the week ending April 27, 2024.
The Debtor requires the use of cash collateral to pay its business
expenses.
As of the Petition Date, the Internal Revenue Service holds a
valid, first priority secured claim in the Debtor's cash
collateral.
The Debtor is directed to make adequate protection payments to the
IRS in the amount of $2,500 monthly with the first payment due on
the 15th day of the month following approval of the Stipulation by
the Bankruptcy Court with the first payment being due on November
15, 2023.
The IRS will be provided a replacement lien, excluding avoidance
causes of action and recoveries, equal in extent, validity and
priority as its pre-petition lien, without prejudice to the right
of the Debtor, any subsequent trustee and/or any other party in
interest to challenge the extent, validity and/or priority of the
IRS's lien.
The lien granted will become and is duly perfected without the
necessity for the execution, filing or recording of financing
statements, security agreements and other documents which might
otherwise be required pursuant to applicable non-bankruptcy law for
the creation or perfection of such lien.
These events constitute an "Event of Default":
1. The Debtor fails to perform any of its material obligations in
compliance with the terms of the Stipulation;
2. any material representation or material warranty made by the
Debtor in this Stipulation proves to have been materially false or
misleading as of the time made or given (including by omission of
material information or fact necessary to make such representation,
warranty or statement not misleading); or
3. the case is converted to a case under 11 U.S.C. Section 701, et
seq.
A copy of the order is available at https://urlcurt.com/u?l=qgZKAg
from PacerMonitor.com.
About Freedom Plumbers Corporation
Freedom Plumbers Corporation installs, replaces, repairs, inspects
and services septic tanks, pipes and systems, pumps and disposes of
waste.
Freedom replaces entire pipes and also relines pipes, inserting new
piping inside failing pipe. Freedom handles all aspects of grease
waste. It diagnoses grease problems, maintains and cleans pumps,
inspects, repairs and replaces grease traps, cleans drains, videos
pipes both residential and commercial. Freedom clears drains for
businesses and homes. Using LED cameras and leak detection
equipment, Freedom diagnoses problems with pipes. Freedom services,
inspects, repairs, replaces, and installs grinder stations for both
commercial and residential applications. Freedom inspects sewer
pipes and lines both by camera and visually to diagnose problems.
Freedom removes and replaces sewer pipes. Freedom maintains sewer
lines and rehabilitates old, corroded pipes from the inside using
an epoxy resin formula.
The Debtor sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. E.D. Va. Case No. 20-10534) on Feb. 20, 2020, listing
under $1 million on both assets and liabilities.
Judge Klinette Kindred oversees the case.
Ann E. Schmitt, Esq. at Culbert & Schmitt, PLLC, represents the
Debtor as counsel.
FREIGHT MASTER: Hires Modestas Law Offices P.C. as Counsel
----------------------------------------------------------
Freight Master Trans LLC seeks approval from the U.S. Bankruptcy
Court for the Northern District of Illinois to employ Modestas Law
Offices, P.C. as counsel.
The firm will represent the Debtor in matters concerning
negotiation with creditors, preparation of a plan, corporate
restructuring, analysis of claims and potential causes of action
and other assets, and to otherwise represent the Debtor in matters
before the Court.
The firm will be paid $525 per hour, and will be reimbursed for
reasonable out-of-pocket expenses incurred.
Saulius Modestas, Esq., a partner at Modestas Law Offices, P.C.,
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:
Saulius Modestas, Esq.
MODESTAS LAW OFFICES, P.C.
401 S. Frontage Road, Ste. C
Burr Ridge, IL 60527
Tel: (312) 251-4460
Email: smodestas@modestaslaw.com
About Freight Master Trans LLC
Freight Master Trans LLC provides trucking services.
The Debtor filed Chapter 11 Petition (Bankr. N.D. Ill. Case No.
23-14323) on October 25, 2023, with $1 million to $10 million in
assets and liabilities. Spasoje Vrhovac, managing member, signed
the petition.
Saulius Modestas, Esq. of Modestas Law Offices, P.C. represents the
Debtor as legal counsel.
GABRIEL CUSTOM: Jan. 4 Hearing on Disclosure Statement
------------------------------------------------------
Judge Lena Mansori James has entered an order that the hearing to
consider the approval of the Disclosure Statement of Gabriel Custom
Homes, LLC on Jan. 4, 2024, at 2:00 P.M., in Courtroom 1, 601 W.
4th Street, Suite 100, Winston-Salem, NC 27401
Dec. 19, 2023 is fixed as the last day for filing and serving
written objections to the Disclosure Statement.
About Gabriel Custom Homes
Gabriel Custom Homes, LLC, sought protection for relief under
Chapter 11 of the Bankruptcy Code (Bankr. M.D.N.C. Case No.
23-50410) in June 23, 2023, with $100,001 to $500,000 in both
assets and liabilities.
Samantha K. Brumbaugh, Esq., at Ivey, Mcclellan, Siegmund,
Brumbaugh & Mcdonough, LLP, is the Debtor's counsel.
GALLUS DETOX: Court OKs Interim Cash Collateral Access
------------------------------------------------------
The U.S. Bankruptcy Court for the District of Colorado authorized
Gallus Detox Services, Inc. and affiliates to use cash collateral
on an interim basis in accordance with the budget, with a 20%
variance.
As adequate protection, AFK, Inc. d/b/a FundKite, MYNT Advance,
CloudFund, LLC, Lionheart Funding, LLC, and G and G Funding Group,
LLC and any other party claiming an interest in cash collateral,
interests in cash collateral are granted a post-petition lien on
all post-petition assets and income derived from the operation of
the Debtors' business and assets, to the extent that the use of the
cash results in a decrease in the value of the Secured Creditors'
interest in its pre-petition collateral pursuant to 11 U.S.C.
Section 361(2). All replacement liens will hold the same relative
priority to assets as did the pre-petition liens.
The Debtors will keep the Secured Creditors' collateral insured to
the extent it was insured on a pre-petition basis.
A final hearing on the matter is set for December 7 at 2 p.m.
A copy of the order is available at https://urlcurt.com/u?l=cGKC8Y
from PacerMonitor.com
About Gallus Detox Services, Inc.
Gallus Detox Services, Inc. offers safe, effective, evidence-based,
and highly personalized treatment for individuals struggling with
substance abuse and substance use disorders.
The Debtors sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Colo. Lead Case No. 23-15280) on
November 14, 2023.
In the petition signed by Warren Olsen, chief executive officer,
the Debtor disclosed up to $500,000 in assets and up to $10 million
in liabilities.
Joseph G Rosania Jr. and Thomas B Mcnamara oversee the cases.
Keri L. Riley, Esq., at KUTNER BRINEN DICKEY RILEY PC, represents
the Debtor as legal counsel.
GDB HOLDINGS: Seeks Cash Collateral Access
------------------------------------------
GDB Holdings, LLC dba Joyride Brewing Company, asks the U.S.
Bankruptcy Court for the District of Colorado for authority to use
cash collateral and provide adequate protection to the U.S. Small
Business Administration.
The Debtor requires the use of cash collateral to make payroll
every twice a month. Accordingly, the Debtor must pay the
approximate amount of $20,000 to $34,000 in wages (not inclusive of
tips) to its employees monthly (depending on the month of
operation), and payroll taxes and expenses of approximately $15,000
to $22,000 (depending on the month of operation).
Moreover, the Debtor must continue to pay additional expenses for
costs of products, including grain, hops, yeast and fruit in the
approximately monthly amount of $7,500 to $17,000, in addition to
insurance costs, marketing costs, equipment and maintenance costs,
and other costs to operate its taproom and brewery.
SBA asserts that it has a perfected security interest in, among
other things, the Debtor's inventory and raw materials, and
accounts receivable, in the approximate amount of $500,000, by
virtue of a UCC Financing Statement recorded on June 11, 2020.
Specifically, on August 6, 2021, the Debtor entered into an Amended
Loan Authorization and Agreement for the original principal balance
of $500,000. The Debtor is currently in arrears on this loan in the
amount of $12,570.
The Debtor's primary asset is its inventory and raw materials,
which includes beer, hops and related ingredients along with
minimal food inventory. The value of this the raw materials and
ingredients, including the hops, fluctuates daily -- however, the
Debtor approximates its current value at $10,000. Additionally, the
Debtor has beer inventory, including finished and unfinished
product, of approximately $260,000.
Finally, the Debtor also has brewing equipment with an approximate
value of $120,000.
In order to provide the adequate protection to the SBA for the
Debtor's use of cash collateral, the Debtor proposes the
following:
a. the Debtor will provided replacement liens to the SBA for all
postpetition inventory and accounts receivable to the same extent
and priority as existed pre-petition and to the extent that the use
of cash collateral results in the decrease in the secured lenders'
interests in the cash collateral pursuant to 11 U.S.C. Section
361(2);
b. the Debtor will make monthly payments to the SBA of $2,514,
commencing with the December 2023 payment;
c. Currently, the Debtor has and will maintain adequate insurance
coverage on all property, which is currently in place;
d. the Debtor will provide the SBA with complete accounting on a
monthly basis by sending a copy of Debtor's Monthly Financial
Reports as filed with the Court;
e. the Debtor will only expend cash collateral pursuant to the
budget, subject to a deviation on line item expenses not to exceed
10%, so long as the total expenses do not exceed 10% of the
budget;
f. the Debtor will pay all its post-petition taxes;
g. the Debtor will retain in good repair all collateral in which
the SBA has an interest;
h. the Debtor will pay the arrearages of $12,570 to the SBA
(representing 5 outstanding payments through November 2023) in a
lump sum on the Effective Date of the Plan of Reorganization; and
i. the Debtor agrees that the SBA has permission to continue to
send the
Debtor monthly loan statements.
The following additional entities may claim an interest in the
Debtor's cash collateral and equipment, and are thus being provided
notice as well as follows:
a. Rapid Finance, 4500 East-West Highway, 6th Floor, Bethesda, MD
20814. Rapid Finance may claim an interest in the Debtor's cash
collateral by virtue of UCC Financing Statement filed on November
7, 2022, which describes a security interest in the Debtor's
inventory, goods, merchandise, raw materials, accounts and accounts
receivable, among other stated interests. However, it is the
Debtor's position that Rapid Finance does not have a security
interest, by virtue of the fact that the SBA's security interest
covers the entire amount of the Debtor's available cash collateral
and equipment.
A copy of the motion is available at https://urlcurt.com/u?l=6wkatA
from PacerMonitor.com.
About GDB Holdings, LLC
GDB Holdings, LLC dba Joyride Brewing Company sought protection
under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Colo. Case
No. 23-15347) on November 17, 2023. In the petition signed by David
W. Bergen, managing member, the Debtor disclosed up to $1 million
in assets and up to $10 million in liabilities.
Judge Kimberley H. Tyson oversees the case.
Jeffrey A. Weinman, Esq., at Allen Vellone Wolf Helfrich & Factor,
P.C., represents the Debtor as legal counsel.
GENESIS GLOBAL: Files Amended Chapter 11 Plan
---------------------------------------------
Genesis Global Holdco, LLC, et al., filed an Amended Joint Chapter
11 Plan, and an Amended Disclosure Statement on November 17, 2023.
The Amended Plan is the product of extensive effort by the Debtors,
their management, directors, and employees, and the Debtors'
advisors to preserve the Debtors' estates, and chart a path to a
transparent, efficient, and consensual restructuring. These
efforts began months prior to the filing of the Chapter 11 cases,
as the Debtors took measures to respond to significant turmoil in
the digital asset industry as a whole. Since November 2022,
following the shockwave caused by the sudden collapse of FTX
Trading Ltd. and certain of its affiliates, the Debtors have
engaged in extensive discussions with the Debtors' creditors and
stakeholders, including the Committee, the Ad Hoc Group, Gemini
Trust Company, LLC, and DCG, in an effort to reach a
value-maximizing consensual resolution of the Debtors' financial
situation, including by participating in a Bankruptcy
Court-approved mediation
process.
At the outset of these Chapter 11 Cases, on January 23, 2023 the
Debtors filed a standalone Debtors' Joint Chapter 11 Plan (the
"Initial Plan") to provide a framework for a confirmable chapter 11
plan even in the absence of a global settlement.
Since the filing of the Initial Plan, the Debtors continued to
engage in discussions with key stakeholders in an attempt to reach
a global settlement with all parties in interest. Those efforts
led to the filing of the Debtors' Amended Joint Chapter 11 Plan
(the "June Plan") on June 13, 2023, reflecting substantial
agreement on certain key issues among the Debtors, the Committee
and the Ad Hoc Group. The June Plan proposed to provide, among
other things, (a) the distribution of the Debtors’ cash and
digital assets on hand to creditors and (b) the subsequent pursuit
of causes of action, including preference claims and litigation
claims against DCG, after the plan effective date.
The Debtors and the Committee further continued with negotiations
with DCG and the Ad Hoc Group after the filing of the June Plan,
including bringing the parties together for further mediation
sessions in August 2023. In the weeks since the mediation, the
Debtors had made extensive progress negotiating with the parties in
interest. On Aug. 23, 2023, the mediation was terminated and on
Aug. 28, 2023, the Debtors filed a notice of the termination along
with details of an Agreement in Principle among the Debtors, the
Committee and DCG. As part of the Agreement in Principle, DCG had
agreed to enter into the New First Lien Facility, the New Second
Lien Facility and the Partial Repayment Agreement in satisfaction
of its existing liabilities to the Debtors. The Ad Hoc Group did
not agree with the Agreement in Principle.
Following the termination of the mediation, the Debtors and the
Committee began working towards negotiating a global restructuring
agreement with DCG and developing an amended plan that incorporated
the key terms of the Agreement in Principle, while continuing
discussions with the Ad Hoc Group and the Brown Rudnick Group. As
noted in the Debtors' Third Exclusivity Motion, due to
disagreements among creditors regarding the best path forward to
resolve these cases, the Debtors and the Committee worked towards
finalizing a plan that would allow creditors to express their
preference between consummating a plan that incorporated a deal
with DCG, which the Debtors believed would provide further value to
creditors, and a plan that would preserve any and all of the
Debtors' claims and causes of action against DCG and distribute the
proceeds of any litigation against DCG to creditors.
Ultimately, however, the Debtors have been unable to reach an
agreement with DCG on final debt terms, with significant open
issues still pending as of the end of the Debtors' then current
exclusivity period. Further complicating matters, on Oct. 19,
2023, the Office of the New York Attorney General (the "NYAG")
filed a lawsuit in the Supreme Court of the State of New York
against certain of the Debtors, DCG and Gemini and other related
parties (the "NYAG Action") alleging that they defrauded investors
in connection with the Gemini Earn Program and the DCG Note. Given
the relief sought in the NYAG Action, the Debtors and the Committee
have determined that pursuing the Agreement in Principle with DCG
while the NYAG Action is pending is not a viable route at this
time. Accordingly, the Debtors are pursuing the Amended Plan,
which incorporates the key concepts of the June Plan with
additional modifications as set forth herein.
The Debtors understand that DCG and Gemini intend to vigorously
defend against all allegations asserted against DCG and Gemini,
respectively, in the NYAG Action.
Throughout the Chapter 11 cases, the Debtors have remained
steadfastly committed to providing a transparent process that would
produce a value-maximizing restructuring for their creditors on an
expedited timeline. The Debtors, in consultation with their legal
and financial advisors, and particularly in light of recent
developments, have concluded that the Amended Plan achieves that
objective. In addition, the Debtors are continuing to engage with
their key stakeholders and, to the extent the Debtors achieve a
settlement that would provide more value to their stakeholders than
the Amended Plan, the Amended Plan will be further amended to
reflect such settlement.
The Amended Plan contemplates that Holders of Allowed General
Unsecured Claims against the Debtors will receive a combination of,
among other things and subject to the conditions set forth in the
Amended Plan, the Debtors' or Wind-Down Debtors' (i) Cash, (ii)
Digital Assets, (iii) certain Avoidance Recoveries (including
proceeds from any and all Causes of Action or other claims against
any of the DCG Parties or Gemini Parties), (iv) proceeds resulting
from the sale of assets of the Wind-Down Debtors, and (v) proceeds
from obligations of the DCG Parties, including the Partial
Repayment Agreement, the DCG Loans, the DCGI Loans, the DCG Note,
the DCG Tax Receivables, and any and all Causes of Action or other
claims against any of the DCG Parties, including the proceeds from
any settlements thereof.
Additional key components of the Amended Plan include:
* Payment in full of all Allowed Administrative Expense Claims,
Priority Tax Claims, Other Priority Claims, and Professional Fee
Claims;
* The funding of a Litigation Reserve that allocates a fixed
amount of funds to enable the pursuit of litigation of any Retained
Causes of Action, which shall include (but not be limited to): (i)
all Causes of Action or other claims against any of the Gemini
Parties or any of the DCG Parties and (ii) any other Causes of
Action or other claims identified in a schedule attached to the
Plan Supplement;
* Customary releases by the Releasing Parties in favor of (i)
the Debtors, (ii) the Wind-Down Debtors, (iii) the Other Genesis
Entities, (iv) the Committee and its members (solely in their
capacities as such), (v) the members of the Ad Hoc Group SteerCo
(solely in their capacities as such) if the Ad Hoc Group Acceptance
Event occurs and is continuing, (vi) the PA Officer (solely in its
capacity as such), and (vii) each Related Party of each Entity
described in the foregoing clauses (i)–(vi) (in each case, solely
in its capacity as such); provided, however, that the Amended Plan
shall not release any DCG Parties or any former employees,
officers, and directors of the Debtors who did not serve as
employees, officers or directors of the Debtors as of the Petition
Date; provided further, that any of the current and former
employees, officers, and directors of the Debtors (solely in such
Person's capacity as such) who served as employees, officers or
directors of the Debtors as of the Petition Date, including any
employees of GGT who served or functioned as employees of a Debtor
pursuant to a shared services agreement (solely in their capacities
as such) as of the Petition Date, shall be released only with the
written consent of the Special Committee, which will be disclosed
in the Plan Supplement, with the exception of (x) the members of
the Special Committee (solely in their capacities as such), who
will be released without the need for such consent, and (y) any
current and former employees, officers, and directors of the
Debtors who served as employees, officers or directors of the
Debtors as of the Petition Date and are also DCG Parties, who will
not be released;
* Subject to applicable law and certain conditions set forth in
the Amended Plan, Holders of Allowed Claims denominated in Digital
Assets will receive in-kind distributions in the form of the
Digital Asset in which such respective Claims are denominated; and
* For purposes of distributions (and subject to the Distribution
Principles) and not for voting purposes, the Amended Plan considers
Gemini to be the Holder of all Gemini Lender Claims, and all
distributions on account of Allowed Gemini Lender Claims will be
made to the Gemini Distribution Agent and held in trust in a
segregated account for the benefit of the Holders of Allowed Gemini
Lender Claims.
Counsel to the Debtors:
Sean A. O'Neal, Esq.
Luke A. Barefoot, Esq.
Jane VanLare, Esq.
CLEARY GOTTLIEB STEEN & HAMILTON LLP
One Liberty Plaza
New York, NY 10006
Tel: (212) 225-2000
Fax: (212) 225-3999
A copy of the Amended Joint Chapter 11 Plan dated November 17,
2023, is available at https://tinyurl.ph/Eniwi from
restructuring.ra.kroll.com, the claims agent.
About Genesis Global
Genesis Global Holdco, LLC, through its subsidiaries, and Global
Trading, Inc., provide lending and borrowing, spot trading,
derivatives and custody services for digital assets and fiat
currency.
Genesis Global Capital, LLC (GGC) and Genesis Asia Pacific PTE.
LTD. (GAP) provide lending and borrowing, spot trading, derivatives
and custody services for digital assets and fiat currency. Genesis
Global Holdco, LLC owns 100% of GGC and GAP.
Genesis Global Holdco, LLC, GGC and GAP each filed a voluntary
petition for relief under Chapter 11 of the Bankruptcy Code (Bankr.
S.D.N.Y. Lead Case No. 23-10063) on Jan. 19, 2023. The cases are
pending before the Honorable Sean H. Lane.
At the time of the filing, Genesis Holdco reported $100 million to
$500 million in both assets and liabilities.
Genesis Holdco is a sister company of Genesis Global Trading, Inc.
("GGT") and 100% owned by Digital Currency Group, Inc. ("DCG").
GGT, DCG and certain of the Holdco subsidiaries are not included in
the Chapter 11 filings. The non-debtor subsidiaries include
Genesis UK Holdco Limited, Genesis Global Assets, LLC, Genesis Asia
(Hong Kong) Limited, Genesis Bermuda Holdco Limited, Genesis
Custody Limited ("GCL"), GGC International Limited ("GGCI"), GGA
International Limited, Genesis Global Markets Limited, GSB 2022 II
LLC, GSB 2022 III LLC and GSB 2022 I LLC.
The Debtors tapped Cleary Gottlieb Steen & Hamilton, LLP as
bankruptcy counsel; Morrison Cohen, LLP as special counsel; Alvarez
& Marsal Holdings, LLC as financial advisor; and Moelis & Company,
LLC as investment banker. Kroll Restructuring Administration, LLC,
is the Debtors' claims and noticing agent and administrative
advisor.
The ad hoc group of creditors is represented by Kirkland & Ellis,
LLP and Kirkland & Ellis International, LLP. The ad hoc group of
Genesis lenders is represented by Proskauer Rose, LLP. The U.S.
Trustee for Region 2 appointed an official committee to represent
unsecured creditors in the Debtors' Chapter 11 cases. The
committee tapped White & Case, LLP as bankruptcy counsel; Houlihan
Lokey Capital, Inc., as investment banker; Berkeley Research Group,
LLC as financial advisor; and Kroll as information agent.
GENESIS GLOBAL: Wants to Clawback $689 Million from Former Partner
------------------------------------------------------------------
Cryptocurrency lending platform Genesis wants to recoup more than
half a billion dollars it says its former investment program
partner distributed in the months before it filed for Chapter 11.
Through this Complaint, the Debtor seeks to avoid and recover over
half a billion dollars in preferential transfers that flowed to
defendants Gemini Trust Company, et al., at their demand, in the
months immediately preceding Plaintiff's commencement of Chapter 11
Proceedings and at the nadir of the significant cryptocurrency
market turmoil that began in the spring and summer of 2022. In
particular, during the 90 day period prior to the commencement of
Plaintiff's Chapter 11 Case, Defendants withdrew an aggregate gross
amount of no less than approximately $689,302,000 from Plaintiff.
As a result of these withdrawals, Defendants benefited at the
expense of Plaintiff's other creditors, and continue to benefit to
this day through their retention of the property Plaintiff seeks to
avoid and recover here. Thus, Plaintiff seeks to make use of the
remedies provided by the Bankruptcy Code in order to correct this
unfairness and return Defendants to the same position as
Plaintiff's other similarly-situated creditors.
Defendant Gemini Trust Company, LLC, is a trust company organized
under the laws of the state of New York with its principal place of
business in New York, New York. Gemini operates a cryptocurrency
platform that enables its users to buy, sell, and store
cryptocurrencies. With respect to the transactions at issue here,
Gemini acts as custodian and authorized agent on behalf of the Earn
Users.
Defendants "Earn Users 1-232,824" are participants in the Gemini
Earn Program.
Gemini Earn was an investment program offered to Gemini Users who
custodied their assets on Gemini's cryptocurrency platform. Under
the Gemini Earn Program, participants ("Earn Users") could choose
to loan the digital assets they placed with Gemini to GGC in return
for a fee, with Gemini acting as custodian and agent for the Earn
Users in certain respects.
The market turmoil, supra, led to unprecedented withdrawals from
Plaintiff prior to the commencement of its Chapter 11 Case,
amounting to a classic "run on the bank." Defendants contributed
to this "run on the bank" by making significant withdrawals during
this time.
During the 90-day period prior to the Petition Date, Defendants, by
virtue of demanding repayment of prior loans made to Plaintiff
through the Gemini Earn Program, withdrew an aggregate gross amount
totaling no less than approximately $689,302,000.
The case is GENESIS GLOBAL CAPITAL, LLC, vs. GEMINI TRUST COMPANY,
LLC, individually and as agent on behalf of the Earn Users, and
EARN USERS 1-232,824, Adv. Pro. 23-01203, In re Genesis Global
Holdco, LLC, et al. (Bankr. S.D.N.Y. Case No. 23-10063).
About Genesis Global Holdco
Genesis Global Holdco, LLC, through its subsidiaries, and Global
Trading, Inc., provide lending and borrowing, spot trading,
derivatives and custody services for digital assets and fiat
currency.
Genesis Global Capital, LLC (GGC) and Genesis Asia Pacific PTE.
LTD. (GAP) provide lending and borrowing, spot trading, derivatives
and custody services for digital assets and fiat currency. Genesis
Global Holdco, LLC owns 100% of GGC and GAP.
Genesis Global Holdco, LLC, GGC and GAP each filed a voluntary
petition for relief under Chapter 11 of the Bankruptcy Code (Bankr.
S.D.N.Y. Lead Case No. 23-10063) on Jan. 19, 2023. The cases are
pending before the Honorable Sean H. Lane.
At the time of the filing, Genesis Holdco reported $100 million to
$500 million in both assets and liabilities.
Genesis Holdco is a sister company of Genesis Global Trading, Inc.
("GGT") and 100% owned by Digital Currency Group, Inc. ("DCG").
GGT, DCG and certain of the Holdco subsidiaries are not included in
the Chapter 11 filings. The non-debtor subsidiaries include
Genesis UK Holdco Limited, Genesis Global Assets, LLC, Genesis Asia
(Hong Kong) Limited, Genesis Bermuda Holdco Limited, Genesis
Custody Limited ("GCL"), GGC International Limited ("GGCI"), GGA
International Limited, Genesis Global Markets Limited, GSB 2022 II
LLC, GSB 2022 III LLC and GSB 2022 I LLC.
The Debtors tapped Cleary Gottlieb Steen & Hamilton, LLP as
bankruptcy counsel; Morrison Cohen, LLP as special counsel; Alvarez
& Marsal Holdings, LLC as financial advisor; and Moelis & Company,
LLC as investment banker. Kroll Restructuring Administration, LLC,
is the Debtors' claims and noticing agent and administrative
advisor.
The ad hoc group of creditors is represented by Kirkland & Ellis,
LLP and Kirkland & Ellis International, LLP. The ad hoc group of
Genesis lenders is represented by Proskauer Rose, LLP. The U.S.
Trustee for Region 2 appointed an official committee to represent
unsecured creditors in the Debtors' Chapter 11 cases. The
committee tapped White & Case, LLP as bankruptcy counsel; Houlihan
Lokey Capital, Inc., as investment banker; Berkeley Research Group,
LLC as financial advisor; and Kroll as information agent.
GET GREEN: Wins Cash Collateral Access on Final Basis
-----------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Illinois,
Eastern Division, authorized Get Green Recycling, Inc. to use cash
collateral on a final basis in accordance with the budget.
The Debtors require the use of the Pre-Petition Collateral or the
maintenance and preservation of its metal recycling business
through the payment of ordinary and necessary expenses of the
operation of the Property, as well as extraordinary maintenance and
repair expenses that may arise.
Unique Funding Solutions, LLC purports to hold a first priority
security interest Get Green Recycling, Inc.'s cash receipts through
a lien on accounts and accounts receivables granted by Get Green
Recycling, Inc. under an July 25, 2020 Security Agreement perfected
by UCC filings with the Illinois Secretary of State on July 7,
2020.
Big Shoulders Capital VI, LLC purports to hold a second priority
security interest in each Debtors' cash receipts through a lien on
accounts and accounts receivables granted by each of the Debtors
under an July 25, 2022 Security Agreement perfected by UCC filings
with the Illinois Secretary of State on August 12, 2020.
Safran Metal, Inc. purports to hold a third security interest in
Get Green Recycling, Inc.'s cash receipts through a lien on
accounts and accounts receivables granted by Get Grreen Recycling,
Inc. under a September 26, 2014 Loan and Supply agreement perfected
by UCC filings with the Illinois Secretary of State on December 1,
2022.
As adequate protection, Unique, Big Shoulders, and Safran will be
granted a replacement lien on the rents, accounts and accounts
receivables secured by its lien.
The Post-Petition Liens granted will be valid and perfected as of
the date of the Order, without the need for the execution or filing
of any further document or instrument otherwise required to be
executed or filed under applicable non-bankruptcy law.
The authority of the effected Debtor to use cash collateral will
terminate on the earlier of (a) the date of entry by the Court of
an order modifying or otherwise altering the effectiveness of the
Order, (b) an Event of Default, or (c) the expiration of the Budget
Period.
Each of the following events will constitute an Event of Default:
a. Entry of an order converting that Debtor's Chapter 11 case to a
case under Chapter 7 of the Bankruptcy Code, which order is not
stayed within 10 days of the entry of such order;
b. The entry of an order dismissing that the Debtor's Chapter 11
case, which is not stayed within 10 days of the entry of such
order; and
c. That Debtor's failure to comply with any provision of the
Order.
A copy of the order is available at https://urlcurt.com/u?l=lb4Dto
from PacerMonitor.com.
About Get Green Recycling Inc.
Get Green Recycling Inc. is a recycling center in Aurora,
Illinois.
Get Green Recycling Inc. filed its voluntary petition for relief
under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Ill. Case No.
23-13092) on Sept. 30, 2023. The petition was signed by James
Meyers as president. At the time of filing, the Debtor estimated $1
million to $10 million in both assets and liabilities.
Judge Donald R. Cassling presides over the case.
Gregory J Jordan, Esq. at Jordan & Zito LLC represents the Debtor
as counsel.
GOLYAN ENTERPRISES: Court OKs Cash Collateral Access Thru Dec 5
---------------------------------------------------------------
The U.S. Bankruptcy Court for the Eastern District of New York
authorized Golyan Enterprises LLC to use cash collateral on an
interim basis in accordance with the budget and its agreement with
Rego Park Lender LLC.
Rego Park Lender LLC has an alleged lien on and security interest
in substantially all of Debtor assets as well as a first lien on
the cash collateral.
The Debtor's authorization to use the cash collateral will commence
as of entry of the Interim Order by the Court and terminate upon
the earliest of:
(i) the Extended Termination Date (December 5, 2023);
(ii) entry of a Final Order or a further interim order
granting the Debtor's authorization to use the cash collateral; or
(iii) the occurrence of a Termination Event, which may be
extended with RPL's consent without further order of the Court.
A final hearing on the matter is set for December 5, 2023 at 2
p.m.
A copy of the order is available at https://urlcurt.com/u?l=bMEYKN
from PacerMonitor.com
About Golyan Enterprises
Golyan Enterprises, LLC owns a residential apartment building
located at 99-44 62nd Ave., Rego Park, N.Y. The property is valued
at $12 million.
Golyan Enterprises filed its voluntary petition for Chapter 11
protection (Bankr. E.D.N.Y. Case No. 23-41647) on May 11, 2023,
with $12,000,500 in assets and $10,472,736 in liabilities.
Faraidoon Golyan, co-managing member, signed the petition.
Judge Nancy Hershey Lord oversees the case.
The Law Offices of Avrum J. Rosen, PLLC serves as the Debtor's
bankruptcy counsel.
GOODLIFE PHYSICAL: Court OKs Deal on Cash Collateral Access
-----------------------------------------------------------
The U.S. Bankruptcy Court for the Central District of California,
Los Angeles Division, authorized Goodlife Physical Medicine Corp to
use cash collateral on an interim basis in accordance with its
agreement with the U.S. Small Business Administration.
The Debtor and the SBA have reached a further agreement to permit
the Debtor to use cash collateral from November 15, 2023 through
February 15, 2024, for payment of the ordinary and necessary
expenses as set forth in the budget.
Pre-petition, on February 25, 2022, the Debtor executed an SBA
Note, pursuant to which the Debtor obtained a COVID-19 Economic
Injury Disaster Loan in the amount of $1.5 million. On May 14,
2022, the Debtor executed a First Modification of Note, pursuant to
which the Debtor increased the Original SBA Loan by $100,000 in the
cumulative amount of $1.6 million. The terms of the Modified Note
require the Debtor to pay principal and interest payments of $8,468
every month beginning 24 months from the date of the Note over the
30-year term of the SBA Loan, with a maturity date of March 2,
2052. Interest has accrued and continues to accrue since February
25, 2022. The SBA Loan has an annual rate of interest of 3.75% and
may be prepaid at any time without notice or penalty. As of the
Petition Date, the amount due on the SBA Loan was $1.652 million.
As evidenced by a Security Agreement and subsequently the Amended
Security Agreement executed on May 14, 2022 and a valid UCC-1
filing on March 14, 2022 as Filing Number U220173912326, the SBA
Loan is secured by all tangible and intangible personal property of
the Debtor.
As adequate protection, retroactive to the Petition Date, the SBA
will receive a replacement lien(s) that is deemed valid, binding,
enforceable, non-avoidable, and automatically perfected, effective
as of the Petition Date, on all postpetition revenues of the Debtor
to the same extent, priority and validity that its lien attached to
the Personal Property Collateral. The scope of the Replacement Lien
is limited to the amount (if any) that the cash collateral
diminishes post-petition as a result of the Debtor's post-petition
use of the cash collateral.
The Debtor will remit adequate protection payments to the SBA in
the amount of $3,500 per month, to be paid on December 1, 2023,
January 1, 2024 and February 1, 2024.
The SBA will be entitled to a super-priority claim over the life of
the Debtor's bankruptcy case, pursuant to 11 U.S.C. Sections
503(b), 507(a)(2) and 507(b), which claim will be limited to any
diminution in the value of the SBA's collateral, pursuant to the
SBA Loan, as a result of the Debtor's use of cash collateral on a
post-petition basis.
A hearing on the matter is set for February 28, 2024 at 9 a.m.
A copy of the stipulation and the Debtor's budget is available at
https://urlcurt.com/u?l=dJxUjz from PacerMonitor.com.
The Debtor projects $288,762 in total revenue and $288,198 in total
expenses, on a monthly basis.
A copy of the order is also available at
https://urlcurt.com/u?l=qXJgGO from PacerMonitor.com.
About Goodlife Physical Medicine Corp
Goodlife Physical Medicine Corp, a company in Redondo Beach,
Calif., filed a petition for relief under Chapter 11 of the
Bankruptcy Code (Bankr. C.D. Calif. Case No. 23-10340) on Jan. 23,
2023. In the petition filed by its owner, David Carry, the Debtor
reported up to $50,000 in assets and $1 million to $10 million in
liabilities.
Judge Sandra R. Klein oversees the case.
The Debtor is represented by Leslie A. Cohen, Esq., at Leslie Cohen
Law, PC.
GOODLIFE PHYSICAL: Has Deal on Cash Collateral Access
-----------------------------------------------------
Goodlife Physical Medicine Corp and affiliates and the U.S. Small
Business Administration advised the U.S. Bankruptcy Court for the
Central District of California, Los Angeles Division, that they
have reached an agreement regarding the Debtor's use of cash
collateral and now desire to memorialize the terms of this
agreement into an agreed order.
Pre-petition, on February 25, 2022, the Debtor executed a U.S.
Small Business Administration Note, pursuant to which the Debtor
obtained a COVID Economic Injury Disaster Loan in the amount of
$1.5 million. On May 14, 2022, the Debtor executed a First
Modification of Note, pursuant to which the Debtor increased the
Original SBA Loan by $100,000 in the cumulative amount of $1.6
million. The terms of the Modified Note require the Debtor to pay
principal and interest payments of $8,468 every month beginning 24
months from the date of the Note over the 30 year term of the SBA
Loan, with a maturity date of March 2, 2052. Interest has accrued
and continues to accrue since February 25, 2022. The SBA Loan has
an annual rate of interest of 3.75% and may be prepaid at any time
without notice or penalty. As of the Petition Date, the amount due
on the SBA Loan was $1.7 million.
As evidenced by a Security Agreement and subsequently the Amended
Security Agreement executed on May 14, 2022 and a valid UCC-1
filing on March 14, 2022 as Filing Number U220173912326, the SBA
Loan is secured by all tangible and intangible personal property.
Based upon the SBA's secured lien against the Personal Property
Collateral, including but not limited to, cash collateral, the
Debtor and SBA have reached a further agreement to permit the
Debtor to use cash collateral, from November 15, 2023 through
February 15, 2024.
As adequate protection, retroactive to the Petition Date, SBA will
receive a replacement lien(s) that is deemed valid, binding,
enforceable, non-avoidable, and automatically perfected, effective
as of the Petition Date, on all postpetition revenues of the Debtor
to the same extent, priority and validity that its lien attached to
the Personal Property Collateral.
The Debtor will remit adequate protection payments to the SBA in
the amount of $3,500 per month, to be paid on December 1, 2023,
January 1, 2024 and February 1, 2024. Adequate protection payments
will include the Debtor's SBA Loan number and be sent to the
payment address on the SBA Proof of Claim or may be paid by wire
transfer or pay.gov. The Debtor agrees that any SBA mailing of
monthly billing statements to the Debtor will be for informational
purposes only and shall not be deemed a violation of the automatic
stay.
The SBA will be entitled to a super-priority claim over the life of
the Debtor's bankruptcy case, pursuant to 11 U.S.C. Sections 503(b)
and 507(b), which claim will be limited to any diminution in the
value of SBA's collateral, pursuant to the SBA Loan, as a result of
the Debtor's use of cash collateral on a post-petition basis.
The Debtor will use its best efforts to diligently seek
confirmation of a Chapter 11 plan of reorganization. SBA reserves
its right to object to the Debtor's proposed Chapter 11 plan of
reorganization, and does not waive any rights, claims or interests
in the Chapter 11 bankruptcy case. The Parties agree that as and
for additional adequate protection, the Debtor agrees it will not
propose any Plan of Reorganization that pays SBA less than $8,468
per month on account of its claim.
The Debtor agrees to maintain insurance on the Personal Property
Collateral and to designate SBA as a loss payee or additional
insured in accordance with the SBA Loan and related loan documents
and agrees to provide proof of insurance within seven days upon
written request of SBA.
A copy of the stipulation is available at
https://urlcurt.com/u?l=j85Kdp from PacerMonitor.com.
About Goodlife Physical Medicine Corp
Goodlife Physical Medicine Corp, a company in Redondo Beach,
Calif., filed a petition for relief under Chapter 11 of the
Bankruptcy Code (Bankr. C.D. Calif. Case No. 23-10340) on Jan. 23,
2023. In the petition filed by its owner, David Carry, the Debtor
reported up to $50,000 in assets and $1 million to $10 million in
liabilities.
Judge Sandra R. Klein oversees the case.
The Debtor is represented by Leslie A. Cohen, Esq., at Leslie Cohen
Law, PC.
GOVERNMENTJOBS.COM: 90% Markdown for $1.7MM Goldman Sachs MML Loan
------------------------------------------------------------------
Goldman Sachs Middle Market Lending LLC II has marked its
$1,718,000 loan extended to Governmentjobs.com, Inc. to market at
$180,000 or 10% of the outstanding amount, as of September 30,
2023, according to Goldman Sachs Middle Market Lending LLC II's
Form 10-Q for the Quarterly period ended, September 30, 2023, filed
with the Securities and Exchange Commission on November 7, 2023.
Goldman Sachs Middle Market Lending LLC II is a participant in a
First Lien Senior Secured Debt Loan Governmentjobs.com, Inc. The
loan accrues interest at a rate of 10.90% (S +5.50%) per annum. The
loan matures on December 1, 2028.
Goldman Sachs Middle Market Lending LLC II was formed on February
21, 2020. Effective November 23, 2021, MMLC LLC II converted from a
Delaware limited liability company to a Delaware corporation named
Goldman Sachs Middle Market Lending Corp. II, which term refers to
either Goldman Sachs Middle Market Lending Corp. II or Goldman
Sachs Middle Market Lending Corp. II together with its consolidated
subsidiary, as the context may require), which, by operation of
law, is deemed for purposes of Delaware law the same entity as MMLC
LLC II. The Company commenced operations on October 29, 2021. On
November 23, 2021, the Company's initial investors funded the
initial portion of their capital commitment to purchase shares of
common stock, at which time the Initial Member's initial capital
contribution to MMLC LLC II was cancelled. The Company has elected
to be regulated as a business development company under the
Investment Company Act.
GovernmentJobs.com, Inc., doing business as NEOGOV, provides online
recruitment services. The Company develops a human resource
platform that automates the hiring and performance evaluation
process including position requisition approval, automatic minimum
qualification screening, test statistics and analysis, and equal
employment opportunity (EEO) reporting.
GRIES ASSOCIATES: Court OKs Cash Collateral Access Thru Dec 5
-------------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of Texas,
Houston Division, authorized Gries & Associates, LLC to use cash
collateral on an interim basis in accordance with the budget,
through December 5, 2023.
The Debtor seeks to use the cash collateral for expenses set forth
in the budget and any other unforeseeable expenses that may arise
and pose a threat to the Debtor's continued operations.
CloudFund, Wynwood Capital, Global Funding Experts, Everest
Business Funding, Smart Business, and Ultra Funding assert an
interest in the Debtor's cash collateral.
As adequate protection for the use of cash collateral, all
creditors are credited replacement liens on all post-petition cash
collateral and post-petition acquired property to the same extent,
validity, and priority they possessed as of the Petition Date. The
Replacement Liens will be deemed automatically valid and perfected
with such priority as provided in the Order without any further
notice or act by any party that may otherwise be required under any
other law.
Other holders of allowed secured claims with a perfected security
interest in cash collateral will be entitled to a replacement lien
in postpetition accounts receivable, contract rights, and deposit
accounts to the same extent allowed and in the same priority as
those interests held as of the Petition Date.
The Debtor will maintain insurance on all tangible assets of the
estate and will provide written evidence of same to the United
States Trustee, no later than November 30, 2023.
The adequate protection liens in cash collateral are subject in all
respects to the carve out in an amount equal to the sum of (i) all
fees required to be paid Subchapter V Trustee, or the United States
Trustee under Section 1930(a) of title 28 of the United States Code
plus interest at the statutory rate; (ii) all reasonable fees,
costs, and expenses incurred by a trustee under Section 726(b) of
the Bankruptcy Code; and (iii) to the extent allowed by the Court
on an interim or final basis at any time, all unpaid fees, costs,
and expenses of the professionals retained by the Debtor under 11
U.S.C. Section 327.
A final hearing on the matter is set for December 5, 2023 at 1:30
p.m.
A copy of the court's order and the Debtor's budget is available at
https://urlcurt.com/u?l=jAZCXX from PacerMonitor.com.
The Debtor projects $32,000 in cash receipts and $23,928 in cash
disbursements for 30 days.
About Gries & Associates, LLC
Gries & Associates, LLC sought protection under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 23-34224) on
November 1, 2023. In the petition signed by Blaze Gries, owner, the
Debtor disclosed up to $500,000 in both assets and liabilities.
Judge Jeffrey P. Norman oversees the case.
Robert C Lane, Esq., at the Lane Law Firm, represents the Debtor as
legal counsel.
GTT COMMUNICATIONS: $350MM Bank Debt Trades at 35% Discount
-----------------------------------------------------------
Participations in a syndicated loan under which GTT Communications
Inc is a borrower were trading in the secondary market around 65.4
cents-on-the-dollar during the week ended Friday, November 24,
2023, according to Bloomberg's Evaluated Pricing service data.
The $350 million facility is a payment-in-kind Term loan that is
scheduled to mature on June 30, 2028. The amount is fully drawn
and outstanding.
GTT Communications, Inc., formerly Global Telecom and Technology,
is a multinational telecommunications and internet service provider
company with headquarters in McLean, Virginia, and incorporated in
Delaware.
H&B AUTO: Seeks to Use SBA's Cash Collateral
--------------------------------------------
H&B Auto Repair, Inc. asks the U.S. Bankruptcy Court for the
Northern District of California, Oakland Division, for authority to
use the cash collateral of the U.S. Small Business Administration.
On May 31, 2020, the Debtor executed a Note in the original amount
of $150,000 in favor of the SBA. On July 29, 2021, the Debtor
executed a First Modification of Note. The First Modification of
Note among, other things, increased the loan amount to $500,000 and
provided for payments of $2,517/month beginning 24 months after the
date of the Original Note.
The SBA filed a blanket UCC-1 lien against all tangible and
intangible personal property. The SBA appears to be under-secured.
The balance owed the SBA is $528,624.
On August 4, 2020, the Debtor purchased a tire changer and financed
the purchase through LCA Bank. LCA Bank filed a financing statement
which lists as collateral "All of the Equipment referenced in the
Equipment Finance and Security Agreement #149959-001, which
equipment is generally described as Automotive Equipment and all
proceeds (including cash, noncash an insurance proceeds), all
accessions, additions and attachments, and all substitutions and
replacements."
The Debtor and the SBA have agreed to the terms of the interim use
of cash collateral and a stipulation has been forwarded to the SBA
for review. It is anticipated that it will be filed before the
hearing. Authority for use of cash collateral is requested until
the earlier of a final hearing on use of cash collateral
tentatively set for Dec. 15, 2023 or a default with failure to
cure. However, the proposed stipulation provides for authority to
use cash collateral for 90 days and if the stipulation is filed
before the hearing, the Debtor requests authority for use of cash
collateral for 90 days subject to renewal.
The Debtor proposes to provide the SBA a replacement lien for the
use of all pre-petition cash collateral that is used by granting
the SBA a lien in post-petition receipts and post-petition
inventory. Further, the Debtor proposes to pay the SBA, as adequate
protection, commencing Dec 1, 2023, $555/month representing
interest only payments at 5.38% per annum, the current Federal Rate
of interest on its secured balance.
The Debtor proposes that the payment to SBA continue until the
final hearing on the motion for use of cash collateral tentatively
set for Dec. 15, 2023.
A copy of the motion is available at https://urlcurt.com/u?l=OiTqTO
from PacerMonitor.com.
About H&B Auto Repair, Inc.
H&B Auto Repair, Inc. sought protection under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. N.D. Cal. Case No. 23-41452) on
November 11, 2023. In the petition signed by Mohammad Hussaini,
president, the Debtor disclosed up to $500,000 in assets and up to
$1 million in liabilities.
Lars Fuller, Esq., at Fuller Law Firm PC, represents the Debtor as
legal counsel.
H2O COMMERCIAL: Court OKs Cash Collateral Access, on a Final Basis
------------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Kansas authorized H2O
Commercial Cleaning, LLC to use cash collateral, on a final basis,
in accordance with the budget.
While Debtor has not fully analyzed all of its creditors' liens,
the Debtor does believe that American Funding Solutions holds duly
perfected liens on the Debtor's accounts receivables, inventory,
and accounts. The Debtor's cash generated from the collection of
pre-petition accounts receivable and accounts are "cash collateral"
as defined by 11 U.S.C. Section 363(a).
As adequate protection, the Debtor will pay $1,000 to American
Funding Solutions beginning November 28, 2023 and the 28th of each
month until further Order of the Court.
American Funding Solutions is also granted replacement security
interests in, and liens on, all post-Petition Date acquired
property of the Debtor and the Debtor's bankruptcy estate that is
the same type of property that American Funding Solutions holds a
pre-petition interest, lien or security interest to the extent of
the validity and priority of such interests, liens, or security
interests, if any. The amount of each of the Replacement Liens will
be up to the amount of any diminution of the American Funding
Solutions' Collateral positions from the Petition Date.
The priority of the Replacement Liens will be in the same priority
as American Funding Solutions' pre-petition interests, liens and
security interests in similar property.
Any Replacement Lien granted will be effective and perfected upon
the date of entry of the Order without necessity for the execution
or recordation of filings of deeds of trust, mortgages, security
agreements, control agreements, pledge agreements, financing
statements, or similar documents, or the possession or control by
American Funding Solutions of, or over, any property subject to the
Replacement Liens.
The Debtor will continue to maintain adequate and sufficient
insurance on all its property and assets. The Debtor will timely
file all post-petition tax returns and will make timely deposits of
all post-petition taxes.
A copy of the order is available at https://urlcurt.com/u?l=2a7oXn
from PacerMonitor.com.
About H2O Commercial Cleaning, LLC
H2O Commercial Cleaning, LLC is a locally-owned, Kansas City-based
commercial construction, and commercial window cleaning company.
The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Kan. Case No. 23-21182) on October 4,
2023. In the petition signed by Nicholas A. Verdi, president, the
Debtor disclosed $58,675 in assets and $1,055,619 in liabilities.
Judge Dale L. Somers oversees the case.
Colin Gotham, Esq., at Evans & Mullinx, PA, represents the Debtor
as legal counsel.
HERITAGE POWER: Wants Texas & PBGC Claims Tossed
------------------------------------------------
Emily Lever of Law360 reports that power plant operator Heritage
Power LLC is seeking to reject claims made by the state of Texas
and the federal private pension insurer Pension Benefit Guaranty
Corp., saying that the dozens of claims fall short of minimum
standards and that the insurer is seeking to be paid multiple times
for the same claim.
The PBGC filed a total of 57 proofs of claim against all of the
Debtors. Specifically, PBGC filed three separate proofs of claim
against each Debtor for: (i) unliquidated claims for contributions
that may be owed to the GenOn Pension Plan for Bargained Employees
(the "Contribution Claims"); (ii) unliquidated claims for insurance
premiums, interest and penalties (the "Insurance Premium Claims");
and (iii) claims contingent on termination of the GenOn Pension
Plan for Bargained Employees (the "Termination Claims"). The
Debtors object because the Proofs of Claim: (i) fail to meet the
minimum standards of the Bankruptcy Rules; (ii) fail on the merits;
and (iii) to the extent PBGC is seeking double recovery.
The Texas Comptroller of Public Accounts filed a total of 18 proofs
of claim against all of the Debtors except Portland Power, LLC.
Specifically, the Comptroller filed separate proofs of claim for:
(i) $1,000 allegedly owed for franchise taxes and (ii) an alleged
unliquidated amount. The Debtors object because the Proofs of
Claim: (i) fail to meet the minimum standards of the Bankruptcy
Rules; and (ii) fail on the merits.
About Heritage Power
Heritage Power, LLC and affiliates are a power company with a focus
on power generation activities in Pennsylvania, New Jersey and
Ohio. The Debtors own or operate sixteen power generation assets
with 13 in Pennsylvania, two in New Jersey and one in Ohio.
The Debtors sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. S.D. Texas Lead Case No. 23-90032) on Jan.
24, 2023, with $50 million to $100 million in assets and $500
million to $1 billion in liabilities. David Freysinger, president
of Heritage Power, signed the petitions.
Judge Christopher M. Lopez oversees the cases.
The Debtors tapped Haynes and Boone, LLP as bankruptcy counsel;
Munsch Hardt Kopf & Harr, P.C. as special conflicts counsel;
Alvarez and Marsal North America, LLC as restructuring and
financial advisor; and Epiq Corporate Restructuring, LLC as notice,
claims and solicitation agent.
Counsel for the ad hoc group of pre-bankruptcy lenders is Milbank,
LLP. The ad hoc group of pre-bankruptcy lenders also retained
Porter Hedges, LLP, Ross Aronstam & Moritz, LLP and Ducera
Partners, LLC as advisors.
Jefferies Finance, LLC, as administrative agent, is represented by
Latham & Watkins, LLP.
MUFG, collateral agent, is represented by Thompson Hine, LLP.
J. Aron & Company, LLC, counterparty under an ISDA master
agreement, is represented by Cleary Gottlieb Steen & Hamilton, LLP.
ICIMS INC: 87% Markdown for $1.7MM Goldman Sachs MML Loan
---------------------------------------------------------
Goldman Sachs Middle Market Lending LLC II has marked its
$1,703,000 loan extended to iCIMS Inc to market at $229,000 or 13%
of the outstanding amount, as of September 30, 2023, according to
Goldman Sachs Middle Market Lending LLC II's Form 10-Q for the
Quarterly period ended, September 30, 2023, filed with the
Securities and Exchange Commission on November 7, 2023.
Goldman Sachs Middle Market Lending LLC II is a participant in a
First Lien Senior Secured Debt Loan to iCIMS Inc. The loan accrues
interest at a rate of 12.14% (S +6.75%) per annum. The loan matures
on August 18, 2028.
Goldman Sachs Middle Market Lending LLC II was formed on February
21, 2020. Effective November 23, 2021, MMLC LLC II converted from a
Delaware limited liability company to a Delaware corporation named
Goldman Sachs Middle Market Lending Corp. II, which term refers to
either Goldman Sachs Middle Market Lending Corp. II or Goldman
Sachs Middle Market Lending Corp. II together with its consolidated
subsidiary, as the context may require), which, by operation of
law, is deemed for purposes of Delaware law the same entity as MMLC
LLC II. The Company commenced operations on October 29, 2021. On
November 23, 2021, the Company's initial investors funded the
initial portion of their capital commitment to purchase shares of
common stock, at which time the Initial Member's initial capital
contribution to MMLC LLC II was cancelled. The Company has elected
to be regulated as a business development company under the
Investment Company Act.
iCIMS, Inc. provides software solutions. The Company offers
cloud-based enterprise recruiting platform that empowers
organizations to attract, engage, retain, and hire workforce. iCIMS
serves customers worldwide.
INTELLIGENT MEDICAL: 76% Markdown on $899,000 GS MML Loan
---------------------------------------------------------
Goldman Sachs Middle Market Lending LLC II has marked its $899,000
loan extended to Intelligent Medical Objects, Inc. to market at
$215,000 or 24% of the outstanding amount, as of September 30,
2023, according to Goldman Sachs Middle Market Lending LLC II's
Form 10-Q for the Quarterly period ended, September 30, 2023, filed
with the Securities and Exchange Commission on November 7, 2023.
Goldman Sachs Middle Market Lending LLC II is a participant in a
First Lien Senior Secured Debt Loan to Intelligent Medical Objects,
Inc. The loan accrues interest at a rate of 11.38% (S +6.00%) per
annum. The loan matures on May 11, 2029.
Goldman Sachs Middle Market Lending LLC II was formed on February
21, 2020. Effective November 23, 2021, MMLC LLC II converted from a
Delaware limited liability company to a Delaware corporation named
Goldman Sachs Middle Market Lending Corp. II, which term refers to
either Goldman Sachs Middle Market Lending Corp. II or Goldman
Sachs Middle Market Lending Corp. II together with its consolidated
subsidiary, as the context may require), which, by operation of
law, is deemed for purposes of Delaware law the same entity as MMLC
LLC II. The Company commenced operations on October 29, 2021. On
November 23, 2021, the Company's initial investors funded the
initial portion of their capital commitment to purchase shares of
common stock, at which time the Initial Member's initial capital
contribution to MMLC LLC II was cancelled. The Company has elected
to be regulated as a business development company under the
Investment Company Act.
Intelligent Medical Objects, Inc. develops, manages, and licenses
medical terminology and healthcare information technology software
applications. The Company offers solutions for clinical
documentation, decision support, reimbursement, reporting, data
analysis, research, and health education.
INTELLIGENT MEDICAL: 87% Markdown on $400,000 GS MML Loan
---------------------------------------------------------
Goldman Sachs Middle Market Lending LLC II has marked its $400,000
loan extended to Intelligent Medical Objects, Inc. to market at
$52,000 or 13% of the outstanding amount, as of September 30, 2023,
according to Goldman Sachs Middle Market Lending LLC II's Form 10-Q
for the Quarterly period ended, September 30, 2023, filed with the
Securities and Exchange Commission on November 7, 2023.
Goldman Sachs Middle Market Lending LLC II is a participant in a
First Lien Senior Secured Debt Loan to Intelligent Medical Objects,
Inc. The loan accrues interest at a rate of 11.42% (S +6.00%) per
annum. The loan matures on May 11, 2028.
Goldman Sachs Middle Market Lending LLC II was formed on February
21, 2020. Effective November 23, 2021, MMLC LLC II converted from a
Delaware limited liability company to a Delaware corporation named
Goldman Sachs Middle Market Lending Corp. II, which term refers to
either Goldman Sachs Middle Market Lending Corp. II or Goldman
Sachs Middle Market Lending Corp. II together with its consolidated
subsidiary, as the context may require), which, by operation of
law, is deemed for purposes of Delaware law the same entity as MMLC
LLC II. The Company commenced operations on October 29, 2021. On
November 23, 2021, the Company's initial investors funded the
initial portion of their capital commitment to purchase shares of
common stock, at which time the Initial Member's initial capital
contribution to MMLC LLC II was cancelled. The Company has elected
to be regulated as a business development company under the
Investment Company Act.
Intelligent Medical Objects, Inc. develops, manages, and licenses
medical terminology and healthcare information technology software
applications. The Company offers solutions for clinical
documentation, decision support, reimbursement, reporting, data
analysis, research, and health education.
IRONNET INC: Wants Chapter 11 Plan Approved by January 2024
-----------------------------------------------------------
Bankrupt cybersecurity venture IronNet Inc. hopes to have its
Chapter 11 restructuring plan approved by the end of January as it
simultaneously pursues a sale.
In its motion seeking approval of the Disclosure Statement, the
Debtor proposed a Plan voting deadline of January 11, 2024 at 5:00
p.m. (Prevailing Eastern Time), a January 11, 2024 at 5:00 p.m.
(Prevailing Eastern Time) deadline for Plan confirmation
objections, and a combined hearing on the Plan and Disclosure
Statement on January 18, 2024 at 10:00 a.m. (Prevailing Eastern
Time).
A hearing on the Disclosure Statement motion is scheduled for Dec.
11, 2023, at 11:00 AM at US Bankruptcy Court, 824 Market St., 6th
Fl., Courtroom #1, Wilmington, Delaware. Objections are due by
Dec. 4, 2023.
About IronNet
Founded in 2014 and headquartered in McLean, Va., IronNet, Inc.
(NYSE: IRNT) -- https://www.ironnet.com/ -- is a global
cybersecurity company that is transforming how organizations secure
their networks by delivering the first-ever collective defense
platform operating at scale. Employing a number of former NSA
cybersecurity operators with offensive and defensive cyber
experience, IronNet integrates deep tradecraft knowledge into its
industry-leading products to solve the most challenging cyber
problems facing the world today.
The Debtors sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Del. Case No. 23-11710) on Oct. 12,
2023. In the petition signed by Cameron Pforr, president and chief
financial officer, IronNet, Inc. disclosed $77,389 in assets and
$33,833,108 in liabilities. Debtor IronNet Cybersecurity Inc.
listed $10 million to $50 million in estimated assets and $50
million to $100 million in estimated liabilities.
Judge Brendan Linehan Shannon oversees the cases.
The Debtors tapped Young Conaway Stargatt & Taylor, LLP as
bankruptcy counsel, Arnold & Porter Kaye Scholer LLP as general
corporate counsel, and Stretto, Inc. as claims, noticing, and
solicitation agent.
Paul, Weiss, Rifkind, Wharton & Garrison LLP represents the DIP
lenders as legal counsel.
JAG CONTRACTORS: Hires Arthur Lander CPA PC as Accountant
---------------------------------------------------------
JAG Contractors, Inc. seeks approval from the U.S. Bankruptcy Court
for the Eastern District of Virginia to employ Arthur Lander,
C.P.A., P.C. as its accountant.
The firm's services include:
a. compiling books and records, and preparing and filing all
necessary tax returns on behalf of the estate;
b. advising the Debtor of its duties and responsibilities under
the Internal Revenue Code;
c. working with the Debtor in assessing the Debtor's financial
condition; and
d. other matters that arise in the administration of this
Chapter 11 case in bankruptcy relating to accounting matters.
The firm will be paid at these rates:
Arthur Lander, CPA $510 per hour
Chris Mueller $200 per hour
Scott Johnson $170 per hour
The firm will charge $200 per month for preparation of monthly
report.
Arthur Lander, president of Arthur Lander CPA, disclosed in a court
filing that his firm is a "disinterested person" within the meaning
of Section 101(14) of the Bankruptcy Code.
The firm can be reached through:
Arthur Lander
Arthur Lander, C.P.A., P.C.
300 N. Washington St. #104
Alexandria, VA 22314
Phone: (703) 486-0700
Email: law@businesslegalservicesinc.com
About JAG Contractors, Inc.
JAG Contractors, Inc., a company in Alexandria, Va., filed Chapter
11 petition (Bankr. E.D. Va. Case No. 23-11650) on Oct. 12, 2023,
with $1 million to $10 million in both assets and liabilities.
Josue Guzman, president, signed the petition.
Richard G. Hall Esq., represents the Debtor as legal counsel.
JL DANIELS: Seeks to Hire Gary Law LLC as Counsel
-------------------------------------------------
JL Daniels Group LLC seeks approval from the U.S. Bankruptcy Court
for the Northern District of Alabama to employ Gary Law LLC as
counsel to handle its Chapter 11 case.
The firm will be paid at the rate of $300 per hour. The firm will
be paid a retainer in the amount of $5,000, plus filing fee.
The firm will also be reimbursed for reasonable out-of-pocket
expenses incurred.
Jacquese Antoinette Gary, Esq., a partner at Gary Law LLC,
disclosed in a court filing that the firm is a "disinterested
person" as the term is defined in Section 101(14) of the Bankruptcy
Code.
The firm can be reached at:
Jacquese Antoinette Gary, Esq.
GARY LAW LLC
4401 Gary Avenue
Fairfield, AL 35064
Tel: (205) 637-5900
Email: jgary@garylawllc.com
About JL Daniels Group LLC
JL Daniels Group, LLC, a company in Birmingham, Ala., filed a
petition under Chapter 11, Subchapter V of the Bankruptcy Code
(Bankr. N.D. Ala. Case No. 23-02503) on Sept. 21, 2023, with $1
million to $10 million in both assets and liabilities. James L.
Daniels, president, signed the petition.
Jacquese Antoinette Gary, Esq., at Gary Law, LLC represents the
Debtor as bankruptcy counsel.
KASEYA INC: 95% Markdown for Goldman Sachs Loan
-----------------------------------------------
Goldman Sachs BDC, Inc has marked its $1,100,000 loan extended to
Kaseya Inc to market at $51,000 or 5% of the outstanding amount, as
of September 30, 2023, according to Goldman Sachs's Form 10-Q for
the Quarterly period ended, September 30, 2023, filed with the
Securities and Exchange Commission on November 7, 2023.
Goldman Sachs BDC is a participant in a First Lien Senior Secured
Debt to Kaseya Inc. The loan accrues interest at a rate of 11.62%
(S + 6.25% Incl. 2.50% PIK) per annum. The loan matures on June 25,
2029.
Goldman Sachs BDC classified the loan on non-accrual status and as
a non-income producing security.
Goldman Sachs BDC was initially established as Goldman Sachs
Liberty Harbor Capital, LLC, a single member Delaware limited
liability company, on September 26, 2012 and commenced operations
on November 15, 2012 with The Goldman Sachs Group, Inc. as its sole
member. On March 29, 2013, the Company elected to be regulated as a
business development company under the Investment Company Act of
1940, as amended. Effective April 1, 2013, the Company converted
from a SMLLC to a Delaware corporation.
In addition, the Company has elected to be treated as a regulated
investment company under Subchapter M of the Internal Revenue Code
of 1986, as amended, commencing with its taxable year ended
December 31, 2013. Goldman Sachs Asset Management, L.P., a Delaware
limited partnership and an affiliate of Goldman Sachs & Co. LLC, is
the investment adviser of the Company.
Kaseya is an IT and security management platform that offers remote
management software for the information technology industry.
KAWA SOLAR: Goldman Sachs Marks $3.9M Loan at 73% Off
-----------------------------------------------------
Goldman Sachs BDC, Inc has marked its $3,917,000 loan extended to
Kawa Solar Holdings Limited to market at $1,073,000 or 27% of the
outstanding amount, as of September 30, 2023, according to Goldman
Sachs's Form 10-Q for the Quarterly period ended, September 30,
2023, filed with the Securities and Exchange Commission on November
7, 2023.
Goldman Sachs BDC is a participant in a First Lien Senior Secured
Debt to Kawa Solar Holdings Limited. The loan matures on December
31, 2023.
Goldman Sachs classified the loan as a Non-income producing
security.
Goldman Sachs BDC was initially established as Goldman Sachs
Liberty Harbor Capital, LLC, a single member Delaware limited
liability company, on September 26, 2012 and commenced operations
on November 15, 2012 with The Goldman Sachs Group, Inc. as its sole
member. On March 29, 2013, the Company elected to be regulated as a
business development company under the Investment Company Act of
1940, as amended. Effective April 1, 2013, the Company converted
from a SMLLC to a Delaware corporation.
In addition, the Company has elected to be treated as a regulated
investment company under Subchapter M of the Internal Revenue Code
of 1986, as amended, commencing with its taxable year ended
December 31, 2013. Goldman Sachs Asset Management, L.P., a Delaware
limited partnership and an affiliate of Goldman Sachs & Co. LLC, is
the investment adviser of the Company.
Kawa Solar Holdings Limited is a solar energy company. 
KOFFLER PROPERTIES: Seeks Cash Collateral Access
------------------------------------------------
Koffler Properties LLC asks the U.S. Bankruptcy Court for the
Eastern District of California for authority to use cash collateral
and provide adequate protection.
The Debtor requires the use of cash collateral to pay necessary
operating expenses and adequate protection payments.
The Debtor owned several real property parcels in Sacramento,
California, with one being a commercial property. The rental income
is cash collateral, requiring court authorization or lender
consent. The Debtor has been evicting tenants and renovating homes
for rent. They secured a tenant for the commercial property at a
rent of $8,250, which will begin next year after court
authorization.
The Debtor plans to file a Chapter 11 plan by December 2023,
anticipates hearing confirmation before April 2024, and plans to
replace adequate protection payments with plan payments.
The names of the entities with an interest in the cash collateral
are Barry L. and Ellen C. Montblatt, Trustees (3809 Bigler Way,
Sacramento, California), Pelorus Fund REIT LLC (148 Otto Circle,
Sacramento, California), and Center Street Lending.
Each of the relevant lenders is adequately protected by a first
deed of trust on its respective collateral, and each property is
appreciating rather than depreciating during the brief Chapter 11
life.
A hearing on the matter is set for December 5, 2023 at 11 a.m.
A copy of the motion is available at https://urlcurt.com/u?l=HRN8l0
from PacerMonitor.com.
About Koffler Properties
Koffler Properties LLC, a company in Sacramento, Calif., filed a
petition under Chapter 11, Subchapter V of the Bankruptcy Code
(Bankr. E.D. Calif. Case No. 23-23380) on Sept. 27, 2023, with $1
million to $10 million in both assets and liabilities. Lisa Holder,
Esq., a practicing attorney in Bakersfield, Calif., has been
appointed as Subchapter V trustee.
Judge Christopher M. Klein oversees the case.
David C. Johnston, Esq., is the Debtor's legal counsel.
KORO KORO: Court OKs Interim Cash Collateral Access
---------------------------------------------------
The U.S. Bankruptcy Court for the District of New Jersey authorized
Koro Koro I, Inc. to use cash collateral on an interim basis in
accordance with the budget.
The Debtor requires the use of cash collateral to fund day-to-day
operations.
The parties that assert an interest in the Debtor's cash collateral
are Bitty Advance 2, LLC, Cloudfund LLC, Itria Ventures, LLC, The
LCF Group, LLC, and Washington Business Bank assert an interest in
the Debtor's cash collateral.
Between August and October 2023, the Debtor entered into a number
of agreements with Secured Creditors and incurred debt totaling
approximately $126,785.
The Debtor incurred debt under the Agreements to, inter alia,
provide operating capital, pay for necessary renovations, obtain
restaurant equipment, and expand its operations.
The Debtor is permitted to use cash collateral for the following
purposes:
a. maintenance and preservation of its assets;
b. the continued operation of its business, including but not
limited to utility expenses and insurance costs;
c. the purchase of replacement inventory;
d. any United States Trustee Fees due under 28 U.S.C. Section
1930; and
e. administrative claims in this Chapter 11 Case, including
professional fees
As adequate protection, the Secured Creditors are granted
replacement liens, nunc pro tunc to the Petition Date, a
replacement perfected security interest under 11 U.S.C. Section
361(a) to the extent that Secured Creditors' cash collateral is
used by the Debtor, to the extent and with the same priority in the
Debtor's post-petition collateral, and proceeds thereof, that
Secured Creditors held in the Debtor's pre-petition collateral.
The replacement lien and security interest granted are
automatically deemed perfected upon entry of the Order without the
necessity of Secured Creditors taking possession, filing financing
statements, mortgages, or other documents.
Commencing November 27, 2023, as interim adequate protection, the
Debtor will pay $600 per week to Secured Creditor, The LCF Group,
LLC.
A copy of the court's order and the Debtor's budget is available at
https://urlcurt.com/u?l=KoCw8R from PacerMonitor.com.
The Debtor projects $40,880 in monthly income and $15,623 in total
expenses for one month.
About Koro Koro I, Inc.
Koro Koro I, Inc. sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. N.J. Case No. 23-19862) on November 6,
2023. In the petition signed by Quentin J. Dubois, president, the
Debtor disclosed up to $50,000 in assets and up to $500,000 in
liabilities.
Judge Stacey L. Meisel oversees the case.
Melinda D. Middlebrooks, Esq., at Middlebrooks Shapiro, P.C.,
represents the Debtor as legal counsel.
LEAFBUYER TECHNOLOGIES: Incurs $398,598 Net Loss in First Quarter
-----------------------------------------------------------------
Leafbuyer Technologies, Inc. filed with the Securities and Exchange
Commission its Quarterly Report on Form 10-Q disclosing a net loss
of $398,598 on $1.17 million of revenue for the three months ended
Sept. 30, 2023, compared to a net loss of $209,972 on $1.13 million
of revenue for the same period during the prior year.
As of Sept. 30, 2023, the Company had $1.39 million in total
assets, $2.98 million in total liabilities, and a total
stockholders' deficit of $1.59 million.
Leafbuyer said, "As of September 30, 2023, we had $202,931 in cash
and cash equivalents and a working capital deficit of $2,164,148.
We are dependent on funds raised through equity financing. Our
cumulative net loss of $24,435,698 was funded by debt and equity
financing and we reported a net loss from operations of $398,598
for the three months ended September 30, 2023. Accordingly, there
is substantial doubt about our ability to continue as a going
concern within one year after the date the financial statements are
issued.
"Our ability to continue as a going concern is dependent upon our
generating profitable operations in the future and / or obtaining
the necessary financing to meet our obligations and repay our
liabilities arising from normal business operations when they come
due. Management believes that actions presently being taken to
further implement our business plan of expansion of products,
geographical locations we sell our services and deeper market
penetration will generate additional revenues and eventually
positive cash flow and provide opportunity for the Company to
continue as a going concern. While we believe in the viability of
our strategy to generate additional revenues and our ability to
raise additional funds, there can be no assurances to that
effect."
A full-text copy of the Form 10-Q is available for free at:
https://www.sec.gov/ix?doc=/Archives/edgar/data/1643721/000147793223008496/lbuy_10q.htm
About Leafbuyer
Leafbuyer Technologies, Inc. is a marketing technology company for
the cannabis industry and is an online cannabis resource.
Lakewood, CO-based BF Borgers CPA PC, the Company's auditor since
2017, issued a "going concern" qualification in its report dated
Sept. 28, 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.
LEMONKIND LLC: Court OKs Interim Cash Collateral Access
-------------------------------------------------------
The U.S. Bankruptcy Court for the Middle District of Florida, Fort
Myers Division, authorized LemonKind LLC 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 to pay: (a) all
amounts expressly authorized by the Court, and (b) the current and
necessary expenses set forth in the budget.
As previously reported by the Troubled Company Reporter, the Debtor
requires the use of cash collateral to (i) continue the orderly
operation of its business, avoiding an immediate total shutdown of
operations; (ii) meet its obligations for necessary ordinary course
expenditures, and other operating expenses; and (iii) make payments
authorized under other orders entered by the Court, thereby
avoiding immediate and irreparable harm to the Debtor's estate.
Several purported creditors have asserted security interests in all
money in which the Debtor has an interest via UCC-1 Financing
Statements filed either in the Florida Secured Transaction Registry
and as to creditor Amazon Capital Services, Inc., also with the
California Secretary of State. The Debtor disputes that some of the
Claimants or other creditors hold valid liens upon the cash
collateral.
The entities that assert an interest in the Debtor's cash
collateral are Amazon Capital Services, Inc., Bank of Southern
California, N.A., and Crown Credit Company - Crown Equipment
Corporation.
The court ruled that the Secured Creditors will have a perfected
post-petition lien against the Prepetition Collateral to the same
extent and with the same validity and priority as their alleged
prepetition lien, without the need to file or execute any document
as may otherwise be required under applicable non-bankruptcy law.
The Debtor will maintain insurance coverage for its property in
accordance with its obligations under the loan and security
documents with the Secured Creditors.
A continued hearing on the matter is set for December 18, 2023 at 3
p.m.
A copy of the court's order and the Debtor's budget is available at
https://urlcurt.com/u?l=Y7T57h from PacerMonitor.com.
The Debtor projects, total uses, on a weekly basis, as follows:
$45,019 for the week starting December 4, 2023;
$30,116 for the week starting December 11, 2023;
$45,019 for the week starting December 18, 2023; and
$30,116 for the week starting December 25, 2023.
About LemonKind LLC
LemonKind LLC manufactures and distributes a wide array of health
conscious functional beverages and other nutraceutical snacks and
foods.
The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. M.D. Fla. Case No. 23-00933) on August 14,
2023. In the petition signed by Irene Rojas Stanbury, CEO, the
Debtor disclosed up to $10 million in both assets and liabilities.
Judge Caryl E. Delano oversees the case.
Mike Dal Lago, Esq., at Dal Lago Law, represents the Debtor as
legal counsel.
LIVIE AND LUCA: Hires Anthony & Partners LLC as Special Counsel
---------------------------------------------------------------
Livie and Luca LLC seeks approval from the U.S. Bankruptcy Court
for the Northern District of California to employ Anthony &
Partners, LLC as special counsel.
The Debtor needs the firm's legal assistance in connection with
claims against Bedabox LLC dba ShipMonk, which formerly provided
third-party logistics services to the Debtor.
The firm will be paid at the rate of $100 to $545 per hour.
The firm will also be reimbursed for reasonable out-of-pocket
expenses incurred.
Andrew J. Ghekas, Esq., a partner at Anthony & Partners, LLC,
disclosed in a court filing that the firm is a "disinterested
person" as the term is defined in Section 101(14) of the Bankruptcy
Code.
The firm can be reached at:
Andrew J. Ghekas, Esq.
Anthony & Partners, LLC
100 S. Ashley Drive, #1600
Tampa, FL 33602
Tel: (813) 273-5616
About Livie and Luca LLC
Livie and Luca LLC sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. N.D. Cal. case No. 23-40991) on August 10,
2023. In the petition signed by Mitzi Rivas, chief executive
officer, the Debtor disclosed up to $10 million in both assets and
liabilties.
William J. Lafferty, III, oversees the case.
Stephen D. Finestone, Esq., at Finestone Hayes LLP, represents the
Debtor as legal counsel.
LOYALTY EXPRESS: Court OKs Interim Cash Collateral Access
---------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Alabama,
Southern Division, authorized Loyalty Express, LLC to use cash
collateral on an interim basis, pending a further hearing set for
December 13, 2023.
The Debtor requires the use of cash collateral to operating
expenses and the costs of administering the Chapter 11 case.
The Debtor's secured obligation is a note and owed to NCP Earnout
Holdings, LLC, with a present balance due of not less than $5
million. The Secured Lender has a first priority, perfected,
security interest on essentially all of the Debtor's assets,
including the Debtor's cash collateral, as that term is defined in
11 U.S.C. Section 363(a).
As of the Petition Date, the Debtor had cash of approximately
$8,335 and the Debtor's accounts receivable total approximately
$439,379.
As adequate protection with respect to the Secured Lender's
interests in the cash collateral, the Secured Lender is granted a
replacement lien in and upon all of the categories and types of
collateral in which they held a security interest and lien as of
the Petition Date to the same extent, validity and priority that
they held as of the Petition Date.
A final hearing on the matter is set for December 13 at 9:30 a.m.
A copy of the order is available at https://urlcurt.com/u?l=VgiYbp
from PacerMonitor.com.
About Loyalty Express, LLC
Loyalty Express, LLC is a provider of technology and marketing
services for banks, credit unions, and mortgage companies.
The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. N.D. Ala. Case No. 23-03147) on November
17, 2023. In the petition signed by Katharine Loveland, CEO, the
Debtor disclosed up to $50 million in assets and up to $10 million
in liabilities.
Judge D. Sims Crawford oversees the case.
Daniel D. Sparks, Esq., at Christian & Small LLP, represents the
Debtor as legal counsel.
MADERA COMMUNITY: Creditors Committee Proposes Liquidating Plan
---------------------------------------------------------------
The Official Committee of Unsecured Creditors submitted a Chapter
11 Plan of Liquidation and a Disclosure Statement for debtor Madera
Community Hospital.
Only Holders of General Unsecured Claims (Class 4) are entitled to
vote on the Plan and are being solicited under this Disclosure
Statement.
The Plan is a plan of liquidation which, among other things,
provides for a Liquidation Trustee to liquidate or otherwise
dispose of the remaining assets of the Estate, to the extent such
assets were not previously monetized to Cash or otherwise
transferred by the Debtor prior to the Effective Date (including,
without limitation, pursuant to a post-petition Bankruptcy
Court-approved sale of the Debtor's assets or the consummation of a
Reopening Transaction). The Liquidation Trustee would also
distribute all net proceeds to creditors, including payment in full
of all Allowed Administrative Expense Claims, Allowed Priority Tax
Claims, Allowed Other Priority Claims (Class 1), Allowed Other
Secured Claims (Class 2) (subject to the Liquidation Trustee's
election of alternative treatments under the Plan and solely to
extent of the value of the collateral which secured such Claims)
and Allowed SAMC Secured Obligations (Class 3) (subject to the
Liquidation Trustee's election of alternative treatments under the
Plan and solely to extent of the value of the collateral which
secured such Claims), generally in accordance with the priority
scheme under the Bankruptcy Code, subject to the terms of the Plan.
Subject to the terms of the Plan, the net proceeds from any asset
sale, Reopening Transaction and Causes of Action will be used to
fund recoveries under the Plan to Holders of Allowed Claims
entitled to distributions under the Plan.
Under the Plan, a Holder of an Allowed General Unsecured Claim in
Class 4 will receive its Pro Rata share of the Liquidation Trust
Interests, which, in general, will entitle the Holder thereof to
its Pro Rata interest in the aggregate amount of the Net
Distributable Assets. The Net Distributable Assets are net of
amounts necessary to fund the payment of, as applicable and except
as otherwise agreed by the Holders of such Claims, Allowed
Administrative Expense Claims, Allowed Priority Tax Claims, Allowed
Other Priority Claims, Allowed Other Secured Claims, Allowed SAMC
Secured Obligations and Trust Expenses, and/or any reserves
established for the foregoing.
As reflected in the Plan Recovery Analysis, in addition to Cash on
Hand, the Estate includes certain real and personal property, any
proceeds of which will be used to fund distributions to creditors
in accordance with the terms of the Plan. The Estate also contains
potential Causes of Action that will be transferred to the
Liquidation Trust under the Plan, all of which are preserved unless
the Plan expressly provides otherwise. No value has been attributed
to litigation claims for purposes of this Disclosure Statement and
the Plan Recovery Analysis. The Plan also enables the Committee to
pursue and consummate a Reopening Transaction if, at any time
before the Effective Date, it determines in its sole discretion
that consummation of such Reopening Transaction is in the best
interests of the Estate and Creditors.
As of the Petition Date, the Debtor estimated that it owed its
former employees approximately $2,000,000 in the aggregate for
unpaid accumulated personal time off, of which approximately
$1,100,000 is allegedly entitled to priority status. In addition,
as of the Petition Date, the Debtor was the defendant in a class
action lawsuit alleging violations of the California and Federal
WARN Act. The class representative for that lawsuit has since
filed two proofs of claim, under the California and Federal WARN
Acts, each asserting a claim of $10 million, and seeking priority
treatment of $15,150 of such amount pursuant to Section 507(a)(4)
of the Bankruptcy Code.
The Debtor also estimated that, in addition to the above-described
employee-related claims, it has approximately $9,100,000 in general
unsecured creditors, which includes an unsecured loan of $1,100,000
owed to Citizens Business Bank. Additional amounts will also be
owed based on the rejection of executory contracts and unexpired
leases. There is also an overpayment claimed by Medicare in the
amount of $400,000. Additionally, there are at least $1,200,000 in
self-insured insurance claims.
On March 13, 2023, the Debtor filed an Emergency Motion for
Authority to Sell Personal Property of the Estate Pursuant to 11
U.S.C. s 363 (the "Excess Medical Supply Sale Motion"), pursuant to
which the Debtor requested authority to sell certain personal
property consisting of excess medical supplies. On March 15, 2023,
the United States Trustee filed an objection to the Excess Medical
Supply Sale Motion. On March 16, 2023, the Bankruptcy Court entered
an order denying, without prejudice, the Excess Medical Supply Sale
Motion.
On September 5, 2023, the Debtor filed a Motion for Authority to
Sell Real Property (the "Farmland Sale Motion"), pursuant to which
the Debtor requested authority, inter alia: (i) to sell
approximately 35.58 acres of farmland to S & K Management for
$569,280, subject to higher and better bids; (ii) to pay the net
proceeds of the sale to SAMC from the escrow. At a hearing held on
October 24, 2023, the Bankruptcy Court granted the Farmland Sale
Motion after conducting an auction at which overbids were
submitted. On November 8, 2023, the Bankruptcy Court entered an
order granting the Farmland Sale Motion and authorizing the Debtor
to sell the farmland to R.K.R.K. 1998 Irrevocable Trust for
$730,000.
Under the Plan, Class 4 consists of the General Unsecured Claims,
which are any Claim against the Debtor that is not a/an: (a)
Administrative Expense Claim (including a Professional Fee Claim);
(b) Priority Tax Claim; (c) Other Priority Claim; (d) Other Secured
Claim; or (e) SAMC Secured Obligation. Each Holder of an Allowed
General Unsecured Claim will receive its Pro Rata share of the
Liquidation Trust Interests, which will entitle such Holder to its
Pro Rata Share of the Liquidation Trust Assets. Class 4 is
impaired.
The Plan provides for: (a) the disposition of substantially all the
Assets of the Debtor and its estate and the distribution of the net
proceeds thereof to Holders of Allowed Claims, consistent with the
priority provisions of the Bankruptcy Code; (b) the winding down of
the Debtor and its affairs by the Liquidation Trustee; and (c) the
creation of a mechanism for the Liquidation Trustee to pursue,
litigate, waive, settle, and compromise Causes of Action
(including, but not limited to, D&O Claims and Tort Claims) to
maximize Creditor recoveries. The Plan also enables the Committee
to pursue and consummate a Reopening Transaction if, at any time
before the Effective Date, it determines in its sole discretion
that consummation of such Reopening Transaction is in the best
interests of the Estate and Creditors.
The source of all distributions and payments under the Plan will be
the Distributable Assets and the proceeds thereof. Distributions to
the Holders of Liquidation Trust Interests will be funded entirely
from Liquidation Trust Assets consisting of Net Distributable
Assets.
The Liquidation Trustee, in his or her discretion, shall have the
authority to allocate and reallocate Liquidation Trust Assets
(including Cash, and including with respect to any reserves
provided for under the Plan) as necessary to effectuate the Plan
without further notice to any party, or action, approval, or order
of the Bankruptcy Court, to the extent such allocation or
reallocation would not be inconsistent with the terms of the Plan;
provided, however, that the Liquidation Trustee may, but is not
required to, apply to the Bankruptcy Court on notice to the parties
included on the Post- Effective Date Notice List prior to making
any such allocation or reallocation. In the event that the
Liquidation Trustee determines that effectuation of the Plan or an
equitable distribution to Holders of Allowed Claims requires
allocation or reallocation of Liquidation Trust Assets in a manner
that would otherwise be inconsistent with any term of the Plan
(including for the purposes of distribution under the Plan), the
Liquidation Trustee shall have the authority to make such
allocation or reallocation with approval of the Bankruptcy Court
upon application to the Bankruptcy Court on notice to parties
included on the Post-Effective Date Notice List.
"Distributable Assets" means, except as otherwise noted herein, any
and all real, personal, or other property of the Debtor of any
nature as of the Effective Date and the Liquidation Trust from and
after the Effective Date, and any and all proceeds of the
foregoing, as the case may be, of any nature whatsoever (whether
liquidated or unliquidated, matured or unmatured, or fixed or
contingent), including, but not limited to, (i) any Cash on Hand;
(ii) any Excess Professional Fee Trust Amount; (iii) the D&O
Liability Insurance Policies; (iv) the Retained Causes of Action
(including, but not limited to, Tort Claims and D&O Claims); and
(v) the proceeds of the foregoing. Notwithstanding the foregoing,
the term "Distributable Assets" does not include any Cash tendered
by the Debtor and held in the Professional Fee Trust Account except
for the Excess Professional Fee Trust Amount, if any. For the
avoidance of doubt, the term "Distributable Assets" includes any
proceeds or other consideration realized from any Reopening
Transaction.
"Net Distributable Assets" means the Distributable Assets of the
Liquidation Trust from and after the Effective Date once all such
assets have been reduced to Cash, net of amounts necessary to fund
the payment of, as applicable and except as otherwise agreed by the
Holders of such Claims, Allowed Administrative Expense Claims,
Allowed Priority Tax Claims, Allowed Other Priority Claims, Allowed
Secured Claims, Allowed SAMC Secured Obligations, and Trust
Expenses, and/or reserves established for any of the foregoing.
The Confirmation Hearing has been scheduled to commence on February
27, 2024 at 9:30 a.m. (prevailing Pacific Time).
The deadline for objecting to Confirmation of the Plan is February
13, 2024 at 4:00 p.m. (prevailing Pacific Time).
Co-Counsel to the Official Committee of
Unsecured Creditors:
Paul S. Jasper, Esq.
PERKINS COIE LLP
505 Howard Street, Suite 1000
San Francisco, CA 94105
Tel: (415) 344-7000
Fax: (415) 344-7050
E-mail: PJasper@perkinscoie.com
- and -
Andrew H. Sherman, Esq.
Boris I. Mankovetskiy, Esq.
SILLS CUMMIS & GROSS P.C.
One Riverfront Plaza
Newark, N J 07102
Tel: (973) 643-7000
Fax: (973) 643-6500
Email: ASherman@sillscummis.com
BMankovetskiy@sillscummis.com
A copy of the Disclosure Statement dated November 17, 2023, is
available at https://tinyurl.ph/zsxyZ from PacerMonitor.com.
About Madera Community Hospital
Madera Community Hospital operates a general medical and surgical
hospital in Madera, Calif.
Madera Community Hospital sought protection under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. E.D. Cal. Case No. 23-10457) on March
10, 2023. In the petition signed by its chief executive officer,
Karen Paolinelli, the Debtor disclosed $50 million to $100 million
in assets and $10 million to $50 million in liabilities.
Judge Rene Lastreto II oversees the case.
The Debtor tapped Riley C. Walter, Esq., at Wanger Jones Helsley,
as bankruptcy counsel; McCormick Barstow LLP and Ward Legal, Inc.
as special counsels; and JWT & Associates, LLP as accountant.
The U.S. Trustee for Region 17 appointed an official committee of
unsecured creditors in the Debtor's Chapter 11 case. The committee
tapped Perkins Coie, LLP and Sills Cummis & Gross PC as legal
counsels and FTI Consulting, Inc., as financial advisor.
MADERA COMMUNITY: Wins Cash Collateral Access Thru Dec 15
---------------------------------------------------------
The U.S. Bankruptcy Court for the Eastern District of California,
Fresno Division, authorized Madera Community Hospital to use cash
collateral on an interim basis in accordance with the budget,
through December 15, 2023.
The Order is conditioned upon the County of Madera approving a
contribution of up to $500,000 to the Debtor's Estate and
ultimately funding said contribution to the Debtor's Estate
pursuant to the timeline set forth below via Transfer of
Appropriations No. 23-008 in the amount of $500,000 (transferred
from American Rescue Plan Act Budget-Appropriations for
Contingencies to Contributions to Other Agencies for Fiscal Year
2023-2024), and provided that:
(i) the Debtor's hospital facility will be kept in
substantially the same as its current operating condition and the
Debtor will not discontinue operations that would affect the
hospital license or otherwise be under threat of being shut down
prior to December 15, 2023, and
(ii) the funding to be provided by the County of Madera will be
used only for the limited purpose of paying necessary expenses to
preserve the license and the hospital as a going concern and not
used to pay general claims against the estate such as pre-petition
claims or bankruptcy professional fees.
Saint Agnes Medical Center will receive an adequate protection
payment from the cash on hand in the amount of $4.5 million.
A further hearing on the matter is set for December 12 at 9:30
a.m.
A copy of the Court's order and the Debtor's budget is available at
https://urlcurt.com/u?l=vSJGy9 from PacerMonitor.com.
The Debtor projects total expenses, on a weekly basis, as follows:
$41,701 for the week ending December 2, 2023; and
$184,296 for the week ending December 9, 2023.
About Madera Community Hospital
Madera Community Hospital operates a general medical and surgical
hospital in Madera, Calif.
Madera Community Hospital sought protection under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. E.D. Calif. Case No. 23-10457) on
March 10, 2023. In the petition signed by its chief executive
officer, Karen Paolinelli, the Debtor disclosed $50 million to $100
million in assets and $10 million to $50 million in liabilities.
Judge Rene Lastreto II oversees the case.
The Debtor tapped Riley C. Walter, Esq., at Wanger Jones Helsley,
as bankruptcy counsel; McCormick Barstow LLP and Ward Legal, Inc.
as special counsels; and JWT & Associates, LLP as accountant.
The U.S. Trustee for Region 17 appointed an official committee of
unsecured creditors in the Debtor's Chapter 11 case. The committee
tapped Perkins Coie, LLP and Sills Cummis & Gross PC as legal
counsels and FTI Consulting, Inc. as financial advisor.
MAISON DRAKE: Court OKs Cash Collateral Access Thru Dec 5
---------------------------------------------------------
The U.S. Bankruptcy Court for the Middle District of Florida,
Orlando Division, authorized Maison Drake, LLC to use cash
collateral on an interim basis in accordance with the budget,
through December 5, 2023.
Amazon Capital Service, Inc. is the Debtor's senior secured
creditor.
The U.S. Small Business Administration and Sellersfunding Corp.
also assert an interest in the Debtor's cash collateral.
To satisfy their right to adequate protection of their interest in
the Debtor's cash collateral for any diminution in value of their
alleged interest in the cash collateral, the Senior Secured
Creditor and the Inferior Interests will have valid, attached,
choate, enforceable, perfected, postpetition security interests and
liens in and against all post-petition assets of the Debtor of the
same character and type, to the same nature, extent, validity, and
priority that Senior Secured Creditor and each of the Inferior
Interests held a properly perfected prepetition security interest
in such assets prior to the Debtor's petition date. The Adequate
Protection Liens upon the Post-Petition Collateral will have the
same validity and priority as existed on the petition date.
As additional adequate protection to ACS, the Debtor is authorized
and directed to pay ACS the amount of $7,000 per month commencing
in October 2023, which ACS or its affiliates will be entitled to
deduct from the Debtor’s Amazon seller account on an ongoing
basis.
Senior Secured Creditor and the Inferior Interests will hold
allowed administrative claims under 11 U.S.C. Section 507(b) to the
extent that the replacement liens on Post-Petition Collateral do
not adequately protect the diminution in value of their interests
in their pre-petition collateral. The administrative claims will be
junior and subordinate only to the administrative claims of
professionals and any superpriority claim of the kind ordered by
the Court and specified in 11 U.S.C. Section 364.
The Debtor will maintain insurance coverage for its property in
accordance with the obligations under the loan and security
documents with Senior Secured Creditor and the Inferior Interests.
A continued preliminary hearing on the matter is set for December 5
at 1:30 p.m.
A copy of the court's order and the Debtor's budget is available at
https://urlcurt.com/u?l=Q9iDIc from PacerMonitor.com.
The Debtor projects total operating expenses, on a monthly basis,
as follows:
$86,123 for November 2023;
$87,177 for December 2023; and
$72,577 for January 2024.
About Maison Drake
Maison Drake, LLC, a company in Longwood, Fla., filed a petition
under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. M.D.
Fla. Case No. 23-03825) on Sept. 15, 2023, with $74,058 in assets
and $3,827,597 in liabilities. David Lanxner, managing member,
signed the petition.
Judge Lori V. Vaughan oversees the case.
Jeffrey S. Ainsworth, Esq., at BransonLaw, PLLC represents the
Debtor as bankruptcy counsel.
MARIO THE BAKER: Court OKs Cash Collateral Access on a Final Basis
------------------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of Florida,
Miami Division, authorized Mario the Baker Downtown, Inc. to use
cash collateral on a final basis in accordance with the budget,
with a 10% variance.
As adequate protection, the U.S. Small Business Association will
have a replacement lien on the cash used by the Debtor and all
other assets which comprise of its secured claim to the same
extent, validity and priority that existed prior to the
commencement of the case. The SBA, as the first lienholder, will
also receive adequate protection payments of $771 per month.
All other parties and/or Alleged Secured Creditors, including
Moneywell GRP, LLC; C2 Advance, LLC; QFS Capital, LLC; GFS Funding;
Equita Advance LLC and Nova Equities, LLC, appear to be unsecured
based on the amount of the indebtedness owed to the SBA. However,
to the extent such parties and/or alleged Secured Creditors claim a
lien interest to attach to the Debtor's assets and seek a
replacement lien, the parties will assert interest and basis
therefor in writing and at the Final Hearing on the Motion.
A copy of the order and the Debtor's budget is available at
https://urlcurt.com/u?l=8rCmze from PacerMonitor.com.
The Debtor projects $80,000 in income and $79,731 in total
expenses.
About Mario the Baker Downtown
Mario the Baker Downtown, Inc. filed Chapter 11 petition (Bankr.
S.D. Fla. Case No. 23-18594) on Oct. 20, 2023, with up to $50,000
in assets and $100,001 to $500,000 in liabilities.
Judge Laurel M. Isicoff oversees the case.
Thomas L. Abrams, Esq., represents the Debtor as legal counsel.
MERCHANTWISE SOLUTIONS: Goldman Sachs Marks $5.4MM Loan at 18% Off
------------------------------------------------------------------
Goldman Sachs BDC, Inc has marked its $5,408,000 loan extended to
MerchantWise Solutions, LLC to market at $4,427,000 or 82% of the
outstanding amount, as of September 30, 2023, according to Goldman
Sachs's Form 10-Q for the Quarterly period ended, September 30,
2023, filed with the Securities and Exchange Commission on November
7, 2023.
Goldman Sachs BDC is a participant in a First Lien Senior Secured
Debt to MerchantWise Solutions, LLC. The loan accrues interest at a
rate of 11.38% (S+6%) per annum. The loan matures on June 1, 2028.
Goldman Sachs BDC classified the loan on non-accrual status and as
a non-income producing security.
Goldman Sachs BDC was initially established as Goldman Sachs
Liberty Harbor Capital, LLC, a single member Delaware limited
liability company, on September 26, 2012 and commenced operations
on November 15, 2012 with The Goldman Sachs Group, Inc. as its sole
member. On March 29, 2013, the Company elected to be regulated as a
business development company under the Investment Company Act of
1940, as amended. Effective April 1, 2013, the Company converted
from a SMLLC to a Delaware corporation.
In addition, the Company has elected to be treated as a regulated
investment company under Subchapter M of the Internal Revenue Code
of 1986, as amended, commencing with its taxable year ended
December 31, 2013. Goldman Sachs Asset Management, L.P., a Delaware
limited partnership and an affiliate of Goldman Sachs & Co. LLC, is
the investment adviser of the Company.
MerchantWise Solutions, LLC (dba HungerRush) is a Diversified
Financial Services company. HungerRush, formerly known as
Revention, provides restaurant management and online ordering
solutions including online ordering, POS systems, and more.
MERCY HOSPITAL: Committee Hires Day Rettig as Counsel
-----------------------------------------------------
The official committee of unsecured creditors of Mercy Hospital,
Iowa City, Iowa, and its affiliates seeks approval from the U.S.
Bankruptcy Court for the Northern District of Iowa to employ Day
Rettig Martin, P.C. as counsel.
The firm will provide these services:
a. provide legal advice regarding the Pensioners Committee's
rights, powers, and duties in these cases;
b. prepare all necessary applications, answers, responses,
objections, orders, reports, and other legal papers;
c. represent the Pensioners Committee in any and all matters
arising in these cases, including any dispute or issue with the
Debtors or other third parties;
d. appear at hearings and other proceedings to represent the
interests of the Pensioners Committee;
e. assist the Pensioners Committee in its investigation and
analysis of the Debtors, their capital structure, and issues
arising in or related to these cases;
f. represent the Pensioners Committee in all aspects of the case
and bankruptcy plan confirmation proceedings; and
g. perform any and all other legal services for the Pensioners
Committee that may be necessary or desirable in these cases.
The firm will be paid at these rates:
Shareholders $375 per hour
Sr. Associates $275 per hour
Associates $225 per hour
Support Staff $150 per hour
The firm will also be reimbursed for reasonable out-of-pocket
expenses incurred.
Paula L. Roby, Esq., a partner at Day Rettig Martin, P.C.,
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:
Paula L. Roby, Esq.
Day Rettig Martin, P.C.
150 1st Ave NE, Suite 415
Cedar Rapids, IA 52401
Tel: (319) 365-0437
Fax: (319) 365-5866
Email: paula@drpjlaw.com
About Mercy Hospital, Iowa City, Iowa
Mercy Hospital, Iowa City, Iowa is a Catholic-based Iowa nonprofit
corporation and a tax-exempt organization described in Section
501(c)(3) of the Internal Revenue Code of 1986 (as amended) that
operates an acute care community hospital and clinics located in
Iowa City, Iowa and surrounding communities.
The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. N.D. Iowa Lead Case No. 23-00623) on August
7, 2023. In the petition signed by Mark E. Toney, chief
restructuring officer, the Debtor disclosed up to $500 million in
both assets and liabilities.
Judge Thad J. Collins oversees the case.
The Debtors tapped NYEMASTER GOODE, P.C and MCDERMOTT WILL & EMERY
LLP as bankruptcy co-counsel, TONEYKORF PARTNERS, LLC as provider
of interim management services, H2C SECURITIES INC. as investment
banker, and EPIQ CORPORATE RESTRUCTURING, LLC as notice and claims
agent.
METCALF ANTIQUE: Court OKs Cash Collateral Access on Final Basis
----------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Kansas authorized
Metcalf Antique Mall, LLC to use cash collateral on a final basis
in accordance with the budget.
The Debtor is indebted to Kansas Department of Revenue, who asserts
a security interest in and liens upon the Debtor's assets. The
Debtor's rents constitute cash collateral as defined in 11 U.S.C.
Section 363(a).
Kansas Department of Revenue claims a secured interest in cash
collateral of the Debtor by virtue of Liens filed on various
dates.
The Debtor is directed to make adequate protection payment to
Kansas Department of Revenue of $2,000 per month beginning November
28, 2023 and the 28th each month until further Order of the Court.
Effective as of the Petition Date, Kansas Department of Revenue is
granted replacement security interests in, and liens on, all
post-Petition Date acquired property of the Debtor and the Debtor's
bankruptcy estate that is the same type of property that Kansas
Department of Revenue holds a pre-petition interest, lien or
security interest to the extent of the validity and priority of
such interests, liens, or security interests, if any.
Any Replacement Lien granted will be effective and perfected upon
the date of entry of the Interim Order without necessity for the
execution or recordation of filings of deeds of trust, mortgages,
security agreements, control agreements, pledge agreements,
financing statements, or similar documents, or the possession or
control by Kansas Department of Revenue of, or over, any property
subject to the Replacement Liens.
To the extent that the Replacement Liens prove inadequate to
protect Kansas Department of Revenue from a demonstrated diminution
in value of Collateral positions from the Petition Date, Kansas
Department of Revenue is granted an administrative expense claim
under 11 U.S.C. section 503(b) with priority in payment under 11
U.S.C. 507(b).
A copy of the order is available at https://urlcurt.com/u?l=0QYYnP
from PacerMonitor.com.
About Metcalf Antique Mall, LLC
Metcalf Antique Mall, LLC operates an Antique Mall. The Debtor
sought protection under Chapter 11 of the U.S. Bankruptcy Code
(Bankr. D. Kan. Case No. 23-21127) on September 25, 2023.
In the petition signed by Andrew T. Rowland, owner, the Debtor
disclosed up to $50,000 in assets and up to $500,000 in
liabilities.
Judge Dale L. Somers oversees the case.
Colin Gotham, Esq., at Evans & Mullinix, P.A., represents the
Debtor as legal counsel.
MICROVISION INC: Directors, Executives to Buy $100K Common Shares
-----------------------------------------------------------------
MicroVision, Inc. announced its executive management team and
several members of its Board of Directors have entered into private
placement agreements to purchase shares of the Company's common
stock.
Pursuant to the agreements, the purchasers will acquire an
aggregate of approximately $100,000 of MicroVision's common stock
at $1.97 per share, Nov. 14, 2023's closing price as reported on
The Nasdaq Stock Market.
"As the independent Chair of the Board, I have great confidence in
MicroVision's management team and the Company's business strategy,"
stated Mr. Robert Carlile. "I believe MicroVision has a promising
future ahead."
"These share purchases by members of the Board of Directors and the
executive team reflect our collective optimism toward accomplishing
our strategic and operational goals for MicroVision and our
continued commitment to building and achieving long-term value for
our stockholders," said Sumit Sharma, the Company's chief executive
officer. "We thank our stockholders for their support and belief
in what we are building here at MicroVision."
About Microvision
Microvision, Inc. -- @ www.microvision.com -- is a global developer
of lidar hardware and software solutions focused primarily on
automotive lidar and advanced driver-assistance systems (ADAS)
markets where the Company can deliver safe mobility at the speed of
life. The Company develops a suite of light detection and ranging,
or lidar, sensors and perception and validation software to the
automotive market for ADAS and autonomous vehicle (AV)
applications, as well as to complementary markets for
non-automotive applications including industrial, robotics and
smart infrastructure.
MicroVision reported a net loss of $53.09 million in 2022, a net
loss of $43.20 million in 2021, a net loss of $13.63 million in
2020, a net loss of $26.48 million in 2019, and a net loss of
$27.25 million in 2018.
MILLTOO LLC: Seeks Cash Collateral Access
-----------------------------------------
Milltoo, LLC asks the U.S. Bankruptcy Court for the Northern
District of Ohio, Eastern Division, for authority to use cash
collateral in accordance with the budget and provide adequate
protection.
The Debtor needs all of its cash on deposit and funds generated by
sales and the collection of accounts receivable to pay for
post-petition operating expenses including lease obligations,
payroll, taxes, insurance obligations, utilities, and other normal
and necessary expenses of its business operation.
The Debtor's gross revenue was $287,436 in 2021 and $550,992 in
2022. Gross revenue YTD in 2023 is approximately $850,000.
On December 9, 2022 borrowed $416,000 from Westfield Bank pursuant
to an SBA 7(a) secured loan. On September 15, 2023, the terms were
amended pursuant to an amended promissory note. The Debtor has
maintained regular payments to Westfield Bank.
Subsequently, the Debtor obtained several merchant cash advances
from ODK Capital, LLC dba OnDeck, Byzfunder NY, LLC dba Byzfunder,
and Clover Capital to help address cash flow challenges.
Westfield Bank has a recorded mortgage lien on the 6663 Center Rd.,
Valley City, Ohio property as well as UCC lien recorded on December
12, 2022.
In connection with the foregoing, the Debtor also offers to
adequately protect the interests of the creditors by granting
post-petition liens on, and security interest in, the property of
the estate in favor of the creditors that will have the same
validity, priority, and extent (if any) that existed at the time of
the commencement of the cases as adequate protection for their
secured claim. Further, the Debtor proposes to maintain regular
monthly payments to Westfield Bank in the amount of $3733 per
month.
To adequately protect creditors, the Debtor proposes:
i. To grant creditors a security interest in the post-petition
assets of the Debtor, including but not limited to cash, accounts
receivable, inventory and equipment, as well as the products and
proceeds thereof to the extent of the diminution of the creditors'
collateral securing the indebtedness. These replacement liens will
have the same validity, priority and extent (if any) as the liens
on the cash collateral that existed at the time of the commencement
of the above-captioned case;
ii. To maintain regular monthly payments to Westfield Bank in
the amount of $3733 per month; and
iii. To provide financial information to creditors on a monthly
basis during the term of the Proposed Order through the filing of
monthly operating reports.
A copy of the motion is available at https://urlcurt.com/u?l=Cr4UAz
from PacerMonitor.com.
A copy of the budget is available at https://urlcurt.com/u?l=e7Elar
from PacerMonitor.com.
The Debtor projects $84,295 in gross profit and $81,501 in total
expenses for the period from November 20 to December 20.
About Milltoo, LLC
Milltoo, LLC sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. N.D. Ohio Case No. 23-51617-amk) on
November 20, 2023. In the petition signed by Sean Miller, managing
member, the Debtor disclosed up to $1 million in both assets and
liabilities.
Michael A. Steel, Esq., at Steel & Company, Ltd., represents the
Debtor as legal counsel.
NATURE COAST: Has $6.9MM Deal to Sell Property to Villasis
----------------------------------------------------------
Nature Coast Development Group, LLC asked the U.S. Bankruptcy Court
for the Northern District of Florida to approve the sale of its
property in Fanning Springs to Villasis, LLC.
Villasis offered $6.9 million for the property located at 7322 CE
Johnson Boulevard, Fanning Springs, Fla.
As part of the deal, all leases and rents associated with the
property will be assumed by Nature Coast and then assigned to the
buyer, according to the commercial contract entered into by the
companies. In addition, Villasis agreed to waive its mortgage lien
on Nature Coast's hotel construction project in Fanning Springs in
the amount of $2.8 million as additional consideration.
The Fanning Springs property is being sold "free and clear" of
liens and interests.
Nature Coast will use the proceeds from the sale to pay in full the
claims of Seacoast National Bank and the Gilchrist County Tax
Collector.
Judge Karen Specie is set to hold a hearing on Nov. 29 to consider
approval of the proposed sale.
About Nature Coast Development Group
Nature Coast Development Group, LLC, a company in Fanning Springs,
Fla., filed a petition under Chapter 11, Subchapter V of the
Bankruptcy Code (Bankr. N.D. Fla. Case No. 22-10200) on Dec. 14,
2022. Jodi D. Dubose has been appointed as Subchapter V trustee.
In the petition filed by its managing member, Marites Padot, the
Debtor reported assets between $10 million and $50 million and
liabilities between $1 million and $10 million.
Judge Karen K. Specie oversees the case.
The Debtor is represented by Latham, Shuker, Eden, & Beaudine, LLP.
NEPTUNE WELLNESS: Alterna Agrees to Buy Unit's Accounts Receivables
-------------------------------------------------------------------
Neptune Wellness Solutions Inc. disclosed in a Form 8-K filed with
the Securities and Exchange Commission that on Nov. 17, 2023,
Biodroga Nutraceuticals Inc., a subsidiary of the Company, executed
an Invoice Purchase and Sale Agreement with Alterna Capital
Solutions LLC ("Lender"), dated Nov. 8, 2023, providing for the
purchase by the Lender of certain of Biodroga's accounts
receivable. Pursuant to the PSA, Biodroga agreed to sell eligible
accounts receivable to the Lender for an amount equal to the face
amount of each account receivable less a reserve percentage.
In connection with the PSA, Biodroga and Alterna also executed an
Inventory Finance Rider, dated Nov. 8, 2023, providing for advances
by Alterna secured by the inventory of Biodroga. Subject to the
Lender's discretion and the terms and conditions of the Rider and
the PSA, the Lender may make advances to Biodroga of an aggregate
amount up to and not to exceed, as of any date of determination of
(i) 75% of Eligible Inventory (as defined in the Rider) valued at
the lower of cost or market value, or (ii) 75% of the net orderly
liquidation value of the Eligible Inventory.
The maximum amount potentially available to be deployed by the
Lender at any given time pursuant to the PSA and Rider is $3
million, which may be increased in $1 million increments up to a
maximum of $8 million in accordance with the terms of the PSA.
The PSA and Rider provide for the payment of fees by Biodroga,
including a funds usage fee of prime plus 1% with a minimum
interest rate of 9.5% per annum, and includes customary
representations and warranties, indemnification provisions,
covenants and events of default. Subject in some cases to cure
periods, amounts outstanding under the PSA and Rider may be
accelerated for typical defaults including, but not limited to, the
failure to make when due payments, the failure to perform any
covenant, the inaccuracy of representations and warranties, the
occurrence of debtor-relief proceedings and the occurrence of liens
against the purchased accounts receivable and collateral. The
Lender was granted a security interest in Biodroga's accounts
receivable and inventory to secure its obligations under the PSA
and Rider.
The PSA and Rider provide for an initial 12 month term, followed by
automatic annual renewal terms unless Biodroga provides written
notice pursuant to the PSA prior to the end of any term.
In connection with the PSA, the Company delivered a Commercial
Guaranty to the Lender, guaranteeing the prompt payment and
performance of the liabilities and obligations of Biodroga to the
Lender under the PSA.
About Neptune Wellness Solutions Inc.
Headquartered in Laval, Quebec, Neptune is a consumer-packaged
goods company that aims to innovate health and wellness products.
Founded in 1998 and headquartered in Laval, Quebec with a United
States headquarters in Jupiter, Florida, the company focuses on
developing a portfolio of high-quality, affordable consumer
products that align with the latest market trends for natural,
sustainable, plant-based and purpose-driven lifestyle brands. The
company's products are available in more than 29,000 retail
locations and include well-known organic food and beverage brands
such as Sprout Organics, Nosh, and Nurturme, as well as
nutraceuticals brands like Biodroga and Forest Remedies.
Montreal, Quebec-based KPMG LLP, the Company's auditor since 2021,
issued a "going concern" qualification in its report dated July 14,
2023, citing that the Company incurred significant operating losses
and negative cash flows from operations since inception, had an
accumulated deficit, and trade and other payables exceed its total
current assets at March 31, 2023. The Company is required to
actively manage its liquidity and expenses and payments of payables
are not being made as the amounts become due. The Company requires
funding in the very near term in order to continue its operations.
If the Company is unable to obtain funding in the very near-term,
it may have to cease operations and liquidate its assets. These
conditions cast substantial doubt about the Company's ability to
continue as a going concern.
OFFSHORE SPARS: Seeks to Sell Most Assets to Offshore Acquisition
-----------------------------------------------------------------
Offshore Spars Co. asked the U.S. Bankruptcy Court for the Eastern
District of Michigan for authority to sell most of its assets to
Offshore Acquisition, LLC.
The assets up for sale include equipment, inventory, vehicles,
accounts receivable and other assets used to operate the company's
business.
The aggregate purchase price under the sale agreement is $2.43
million minus the cash on hand as of the date of the sale closing.
The closing shall take place on the occurrence of the latest of the
following: (i) the fifth business day after entry of the sale
order; (ii) Offshore Acquisition receiving Acceptable Environmental
Reports; and (iii) Jan. 12, 2024.
As part of the deal, Offshore Acquisition will assume certain
liabilities including those associated with contracts to be assumed
by Offshore Spars and then assigned to the buyer.
"The sale of the assets will serve to maximize the value to the
bankruptcy estate, relieve the estate of substantial obligations
relating to such assets, ensure a pathway to a confirmable plan and
avoid the further deterioration in the value of the assets," Elliot
Crowder, Esq., Offshore Spars' attorney, said in a motion filed in
court.
In connection with the sale of its assets to Offshore Acquisition,
Offshore Spars asked for court approval to terminate its sale
agreement with Rigpro, LLC.
The Rigpro agreement calls for the sale of Offshore Spars'
properties including autoclave, tooling and mast spinners, which
was conditioned upon court approval of the Rigpro agreement and the
company's initial Chapter 11 plan of reorganization filed on Aug.
21.
About Offshore Spars Co.
Offshore Spars Co. was established in 1976 and its primary business
is designing and manufacturing carbon fiber and composite masts and
booms for the global superyacht market. It has additional lines of
business including replacement and service of standing and running
rigging for yachts, e-commerce, and carbon fiber manufacturing for
other industries, including the aerospace and automotive
industries.
Offshore Spars filed a petition under Chapter 11, Subchapter V of
the Bankruptcy Code (Bankr. E.D. Mich. Case No. 23-44657) on May
23, 2023, with as much as $50,000 in assets and $1 million to $10
million in liabilities. Deborah Fish, Esq., managing partner at
Allard & Fish, P.C., has been appointed as Subchapter V trustee.
Judge Thomas J. Tucker oversees the case.
The Debtor tapped Charles D. Bullock, Esq., at Stevenson & Bullock,
P.L.C. as legal counsel and Mueller & Company, PC as accountant.
OUTFRONT MEDIA: Issues $450-Mil. Senior Secured Notes Due 2031
--------------------------------------------------------------
OUTFRONT Media Inc. disclosed in a Form 8-K Report filed with the
Securities and Exchange Commission that on Nov. 20, 2023, the
Company, along with its wholly-owned subsidiaries, Outfront Media
Capital LLC, a Delaware limited liability company, and Outfront
Media Capital Corporation, a Delaware corporation, and the other
guarantors party thereto, entered into an indenture with Deutsche
Bank Trust Company Americas, as trustee and collateral agent,
relating to the issuance by the Issuers of $450 million aggregate
principal amount of 7.375% Senior Secured Notes due 2031.
The Notes were sold in a private transaction exempt from the
registration requirements of the Securities Act of 1933, as
amended, and have not been, and will not be, registered under the
Securities Act, and may not be offered or sold in the United States
absent registration or an applicable exemption from the
registration requirements of the Securities Act.
The Notes bear an interest rate of 7.375% per annum and interest on
the Notes will be payable on May 15 and November 15 of each year,
commencing on May 15, 2024. The Notes will mature on February 15,
2031.
The Notes are senior secured obligations of the Issuers and are
guaranteed on a senior secured basis by the Company and the
Guarantors. The Notes and the related guarantees are secured by
liens on substantially all of the assets of the Issuers and the
Guarantors, on a pari passu basis with the Company's senior credit
facilities, subject to certain exceptions and permitted liens,
including the exclusion of equity in Canadian subsidiaries that are
pending sale.
The terms of the Notes are governed by the Indenture. The Indenture
contains customary covenants that, among other things, limit the
Company's and its restricted subsidiaries' abilities to, among
other things, (i) incur additional indebtedness, guarantee
indebtedness or issue disqualified stock or, in the case of such
subsidiaries, preferred stock, (ii) pay dividends on, repurchase or
make distributions in respect of the Company's or Finance LLC's
capital stock or make other restricted payments, (iii) make certain
investments or acquisitions, (iv) sell, transfer or otherwise
convey certain assets, (v) create liens, (vi) enter into agreements
restricting certain subsidiaries' ability to pay dividends or make
other intercompany transfers, (vii) consolidate, merge, sell or
otherwise dispose of all or substantially all of the Company's or
its subsidiaries' assets, (viii) enter into transactions with
affiliates, (ix) prepay certain kinds of indebtedness, and (x)
issue or sell stock of the Company's subsidiaries. These covenants
are subject to important exceptions and qualifications. Further,
certain of these covenants will cease to apply after the date on
which the Notes receive investment grade ratings from both Moody's
Investors Service, Inc. and S&P Global Ratings, provided no default
or event of default under the Indenture exists at that time. Such
terminated covenants will be reinstated if the Notes lose their
investment grade ratings at any time thereafter.
The Issuers may redeem some or all of the Notes at any time, or
from time to time, on or after November 15, 2026, at redemption
prices listed in the Indenture. In addition, prior to November 15,
2026, the Issuers may redeem up to 40% of the aggregate principal
amount of the Notes in an amount not to exceed the net cash
proceeds from certain equity offerings, at a redemption price of
107.375% of the principal amount thereof, plus accrued and unpaid
interest, if any, to the date of redemption; provided that at least
50% of the aggregate amount of the Notes remains outstanding after
such redemption. The Issuers may also redeem all or some of the
Notes at any time, or from time to time, prior to November 15,
2026, at a price equal to 100% of the principal amount of the Notes
to be redeemed, plus a "make-whole" premium, plus accrued and
unpaid interest, if any, to the date of redemption.
Upon the occurrence of a "change of control repurchase event," as
defined in the Indenture, the Company is required to offer to
repurchase the Notes at 101% of the aggregate principal amount
thereof, plus any accrued and unpaid interest, if any, to the
repurchase date.
The Indenture contains customary events of default, including
failure to make required payments, failure to comply with certain
agreements or covenants, failure to pay or acceleration of certain
other indebtedness, failure to pay certain judgments, certain
events of bankruptcy and insolvency, and certain failures or
repudiations of guarantees of the Notes. An event of default under
the Indenture will allow either the Trustee or the holders of not
less than 25% in aggregate principal amount of the then-outstanding
Notes to accelerate, or in certain cases, will automatically cause
the acceleration of, the amounts due under the Notes.
About OUTFRONT Media Inc.
Headquartered in New York, OUTFRONT Media Inc. leases advertising
space on out-of-home advertising structures and sites.
In October 2023, Egan-Jones Ratings Company maintained its 'CCC'
foreign currency and local currency senior unsecured ratings on
debt issued by OUTFRONT Media Inc.
In November 2023, S&P Global Ratings lowered the issue-level rating
on Outfront Media Inc.'s unsecured debt to 'B' from 'B+' in view of
Outfront's plans to issue $400 million of secured notes, and use
proceeds to pay off the company's $400 million unsecured notes due
in 2025. While the current amount of total debt outstanding will
remain the same, these actions increase the amount of secured debt
outstanding in S&P's hypothetical default scenario and as a result,
lower recovery prospects for unsecured debtholders.
S&P said, "The 'BB' issue-level rating and '1' recovery rating on
the company's existing senior secured debt are unchanged. We also
assigned our 'BB' issue-level rating and '1' recovery to the
company's new secured notes due 2031.
"Our 'B+' issuer credit rating and stable outlook on Outfront are
unchanged because its net leverage remains the same."
Outfront's proposed debt capitalization consists of a $150 million
priority accounts-receivable securitization facility maturing in
2025 (not rated); senior secured credit facility ($500 million
revolving credit facility maturing in 2028 and $600 million term
loan B maturing in 2026); senior secured notes ($400 million due
2031); and senior unsecured notes ($650 million, 5% due in 2027;
$500 million, 4.25% due in 2029; and $500 million, 4.625% due in
2030). Outfront Media Capital Corp. and Outfront Media Capital LLC
are co-borrowers of the secured and unsecured debt.
The senior secured credit facility is secured by a first-priority
security interest in all tangible and intangible assets (subject
to
66% of the voting stock and 100% of the nonvoting stock of
first-tier foreign subsidiaries).
PB MICHIGAN: Seeks OK to Sell Pure Barre Assets in Birmingham
-------------------------------------------------------------
PB Michigan, LLC asked the U.S. Bankruptcy Court for the Eastern
District of Michigan to approve the sale of its assets to PB
Birmingham, LLC or to another buyer with a better offer.
PB Birmingham offered $225,000 for the assets, which include
furniture, fixtures, equipment, client memberships, retail
inventory, and other assets used to operate PB Michigan's Pure
Barre business in Birmingham, Mich.
The assets are being sold "free and clear" of liens, claims and
interests.
The proposed sale requires the assumption by PB Michigan of its
franchise contract with PB Franchising, LLC and lease contract with
Birmingham Place Associates, LLC for the Pure Barre studio, and the
assignment of those contracts to the buyer.
PB Michigan intends to put the assets up for bidding and
contemplates a public sale in the event another buyer approved by
the franchisor makes a better offer.
The bidding process requires prospective buyers to provide a
cashier's check or money order deposit of at least $20,000; and
documentation showing an ability to fund the sale. Competing bids
will begin at $226,000 and continue in increments of at least
$1,000.
PB Michigan will conduct an auction if it receives a qualified bid
and after it obtains a court order approving the sale. The company
will select the winning bidder and the back-up bidder at the
conclusion of the auction.
Mark Shapiro, Esq., the company's attorney, said the proposed sale
would allow "significantly more funds to be paid to secured
creditors than if the tangible assets were liquidated piecemeal."
About PB Michigan
PB Michigan, LLC filed a petition under Chapter 11, Subchapter V of
the Bankruptcy Code (Bankr. E.D. Mich. Case No. 23-48504) on Sept.
28, 2023, with up to $50,000 in assets and up to $10 million in
liabilities. Kimberly Ross Clayson, Esq., at Taft Stettinius &
Hollister, LLP has been appointed as Subchapter V trustee.
Judge Lisa S. Gretchko oversees the case.
Mark H. Shapiro, Esq., at Steinberg Shapiro & Clark and Myers &
Myers, PLLC serve as the Debtor's bankruptcy counsel and special
counsel, respectively.
PETROLIA ENERGY: Posts $490K Net Loss in Third Quarter
------------------------------------------------------
Petrolia Energy Corporation filed with the Securities and Exchange
Commission its Quarterly Report on Form 10-Q disclosing a net loss
attributable to common stockholders of $490,087 on $903,525 of
total revenue for the three months ended Sept. 30, 2023, compared
to a net loss attributable to common stockholders of $762,435 on
$2.16 million of total revenue for the three months ended Sept. 30,
2022.
For the nine months ended Sept. 30, 2023, the Company reported a
net loss attributable to common stockholders of $1.83 million on
$2.76 million of total revenue, compared to a net loss attributable
to common stockholders of $1.50 million on $5.13 million of total
revenue for the same period in 2022.
As of Sept. 30, 2023, the Company had $7.83 million in total
assets, $11.31 million in total liabilities, and a total
stockholders' deficit of $3.48 million.
Petrolia said, "The Company has suffered recurring losses from
operations and currently has a working capital deficit. These
conditions raise substantial doubt about the Company's ability to
continue as a going concern. The Company plans to generate profits
by reducing overhead costs and reworking its existing oil or gas
wells, funding permitting. The Company may need to raise funds
through either the sale of its securities, issuance of corporate
bonds, joint venture agreements and/or bank financing to accomplish
its goals.
"If additional financing is not available when needed, we may need
to cease operations. The Company may not be successful in raising
the capital needed to drill and/or rework existing oil wells. Any
additional wells that the Company may drill may be non-productive.
Since the Company has an oil producing asset, its goal is to
increase the production rate by optimizing its current
infrastructure."
A full-text copy of the Form 10-Q is available for free at:
https://www.sec.gov/ix?doc=/Archives/edgar/data/1368637/000149315223041500/form10-q.htm
About Petrolia
Petrolia Energy Corporation explores for, develops, and produces
crude oil, natural gas liquids (NGLs) and natural gas in producing
basins in the United States of America and Canada.
Houston, Texas-based M&K CPAS, PLLC, the Company's auditor since
2019, issued a "going concern" qualification in its report dated
May 12, 2023, citing that the company has an accumulated deficit at
Dec. 31, 2022 and 2021 and has a working capital deficit at Dec.
31, 2022, which raises substantial doubt about its ability to
continue as a going concern.
PHASEBIO PHARMACEUTICALS: Panel Hires Chipman as Special Counsel
----------------------------------------------------------------
PhaseBio Pharmaceuticals, Inc. seeks approval from the U.S.
Bankruptcy Court for the District of Delaware to employ Chipman
Brown Cicero & Cole, LLP as conflicts and efficiency counsel.
The firm will assist McDermott Will & Emery LLP, the Committee's
counsel, with respect to matters which McDermott has an actual or
potential conflict of interest, including a business conflict.
The firm will be paid at these rates:
Robert A. Weber $725 per hour
Mark Desgrosseilliers $725 per hour
Kristi J. Doughty $475 per hour
Michelle M. Dero $275 per hour
Partners $500 to $775 per hour
Associates $275 to $350 per hour
Paralegals $200 to $275 per hour
The firm will also be reimbursed for reasonable out-of-pocket
expenses incurred.
Mark L. Desgrosseilliers, Esq., a partner at Chipman Brown Cicero &
Cole, 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:
Mark L. Desgrosseilliers, Esq.
Chipman Brown Cicero & Cole, LLP
1313 North Market Street, Suite 5400
Wilmington, DE 19801
Tel: (302) 295-0192
Email: desgross@chipmanbrown.com
About PhaseBio Pharmaceuticals, Inc.
PhaseBio Pharmaceuticals, Inc. -- https://www.phasebio.com/ -- is
focused on the development and commercialization of novel therapies
to treat orphan diseases, with an initial focus on cardiopulmonary
indications. It is based in Malvern, Pa.
PhaseBio Pharmaceuticals filed a petition for relief under Chapter
11 of the Bankruptcy Code (Bankr. D. Del. Case No. 22-10995) on
Oct. 24, 2022. In the petition filed by its chief executive
officer, Jonathan Mow, the Debtor reported $17,970,000 in assets
and $21,320,000 in debt as of Aug. 31, 2022.
Judge Laurie Selber Silverstein oversees the case.
The Debtor tapped Cooley LLP as lead bankruptcy counsel; Richards,
Layton & Finger, PA as Delaware bankruptcy counsel;
SierraConstellation Partners, LLC as financial advisor; KPMG, LLP
as tax consultant; and Miller Buckfire & Co. as investment banker.
Omni Agent Solutions is the claims, noticing and administrative
agent.
The U.S. Trustee for Region 3 appointed an official committee of
unsecured creditors in the Debtor's case on Nov. 3, 2022. McDermott
Will & Emery, LLP and FTI Consulting, Inc., serve as the
committee's legal counsel and financial advisor, respectively.
PIVOT3 INC: Secured Party Sets Dec. 15 Auction for All Assets
-------------------------------------------------------------
Runway Growth Finance Corp. ("secured party") will conduct a public
sale on Dec. 15, 2023, at 12:00 p.m. (Pacific Time) at the offices
of Sidley Austin LLP, 1001 Page Mill Road, Building 1, Palo Alto,
California 94304, substantially all of the assets of Pivot3 Inc.
("Pivot3"), Pivot3 Holdings Inc. ("Holding"), Nexgen Storage Inc.
("Nexgen"), PV3 (an Abc LLC) LLC ("assignee") in accordance with
Section 9-610 of the New York UCC and other applicable law.
The public sale is being conducted to enforce the secured party's
rights as collateral agent pursuant to that certain loan and
security agreement dated May 13, 2019. Pivot3, Holdings and Nexgen
("loan parties") granted the agent a security interest in the sale
assets to secured loans made pursuant to the loan agreement.
Certain of the sale assets were transferred to assignee subject to
the secured party's security interest. The outstanding principal
balance under the loan agreement as of Oct. 19, 2023, is not less
than $23,582,368.82 plus accrued interest, fees and expenses.
Loan parties were previously in the business of development and
sale of hyperconverged infrastructure and video surveillance
systems. In July 2021, the loan parties ceased operations, Pivot3
transferred substantially all assets to assignee in an assignment
for the benefit of creditors, and the software product of Pivot3
previously know as "Pivot3" was sold, and certain related
underlying registered patents were exclusively licensed pursuant to
a fully paid-up, royalty-free, worldwide, perpetual license for the
video surveillance field ("existing license"). The sale assets
consist primarily of intellectual property registered in the name
of the loan parties with the US PTO and IP offices of other
jurisdictions, which is being sold subject to the existing license,
and the shares of Pivot3 and Nexgen, which are pledged as
collateral.
Any inquiries regarding the sale or sale assets should be directed
to Avisha Khubani at ak@runwaygrowth.com no later than Dec. 24,
2023, at 12:00 p.m. (Pacific Time).
POTRERO MEDICAL: Starts Subchapter V Bankruptcy
-----------------------------------------------
Potrero Medical Inc. filed for chapter 11 protection in the
District of Delaware. According to court filing, the Debtor
reported between $1 million and $10 million in debt between 200 and
999 creditors. The petition states funds will be available to
unsecured creditors.
About Potrero Medical
Potrero Medical Inc. -- https://potreromed.com/ -- is a predictive
health company developing the Next Gen of smart sensors & AI. Its
mission is to protect the kidney.
Potrero Medical sought relief under Subchapter V of Chapter 11 of
the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 23-11900) on Nov.
21, 2023. In the petition filed by Joseph A. Urban, as CEO, the
Debtor reports estimated assets and liabilities between $1 million
and $10 million each.
The Honorable Bankruptcy Judge Laurie Selber Silverstein oversees
the case.
The Debtor is represented by:
David M. Klauder, Esq.
Bielli & Klauder, LLC
26142 Eden Landing Road
Hayward, CA 94545
POWER BRANDS: Committee Hires Grobstein Teeple as Accountant
------------------------------------------------------------
The official committee of unsecured creditors of Power Brands
Consulting, LLC seeks approval from the U.S. Bankruptcy Court for
the Central District of California to employ Grobstein Teeple LLP
as accountant.
The firm will provide these services:
a. obtain and evaluate financial records;
b. assist the Committee with analysis and preparation of cash
flow projections prepared by the Debtor and/or its financial
advisors;
c. evaluate disclosure statement and plan provisions as they
relate to accounting and tax matters;
d. assist the Debtor and Committee with DIP financing, if
required;
e. analyze and prepare liquidation and feasibility analysis;
f. evaluate assets and liabilities of the Debtor and Estate;
g. evaluate tax issues and tax preparation maters if required;
h. provide assistance with avoidance actions if required;
i. provide litigation consulting if required; and
k. provide accounting and consulting services requested by the
Committee and its counsel.
The firm will be paid at these rates:
Partners and Principals $375 to $595 per hour
Managers and Directors $350 to $405 per hour
Professionals $145 to $275 per hour
Paraprofessionals $85 to $145 per hour
The firm will also be reimbursed for reasonable out-of-pocket
expenses incurred.
Howard Grobstein, a partner at Grobstein Teeple, 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:
Howard B. Grobstein
Grobstein Teeple LLP
6300 Canoga Avenue Ste, 1500W
Woodland Hills, CA 91367
Tel: (818) 532-1020
About Power Brands Consulting, LLC
Power Brands Consulting, LLC is a beverage startup specialist that
helps design and develop packaging, create a recipe for new drink
and manufacture and market test new products.
Power Brands Consulting filed its voluntary petition for relief
under Chapter 11 of the Bankruptcy Code (Bankr. C.D. Calif. Case
No. 23-10993) on July 15, 2023. The petition was signed by Darin
Ezra as chief executive officer. At the time of filing, the Debtor
estimated $1 million to $10 million in both assets and
liabilities.
Judge Martin R. Barash presides over the case.
Robert P. Goe, Esq., at Goe Forsythe & Hodges, LLP represents the
Debtor as counsel.
PRIZE MANAGEMENT: Court OKs Interim Cash Collateral Access
----------------------------------------------------------
The U.S. Bankruptcy Court for the Eastern District of North
Carolina, Raleigh Division, authorized Prize Management, LLC to use
cash collateral on an interim basis in accordance with the budget,
with a 10% variance.
The Debtor requires the use of cash collateral to make payment of
ordinary operating expenses.
The Debtor has represented that a UCC search at the North Carolina
Secretary of State's web portal revealed the following UCC-1
filings which may reflect perfected liens on cash collateral:
a. File # 20180107660B recorded October 19, 2018, in favor of First
Bank, 355 N. Bilhen Street, Troy, NC 27371.
The Debtor believes that First Bank is significantly over-secured.
As adequate protection, the Potential Secured Creditor is granted a
post-petition lien on the Debtor's assets including cash and
inventory to the extent of the use and to the extent that the
pre-petition lien in the same type of collateral was valid,
perfected, enforceable, and non-avoidable as of the petition date.
The Debtor will make an adequate protection payment to First Bank
of $40,000 on or before December 14, 2023.
The Debtor's use of cash collateral will expire or terminate on the
earlier of:
(i) December 14, 2023,
(ii) the Debtor ceasing operations of its business; or
(iii) the noncompliance or default of the Debtor with any terms
and provisions of the Order.
An interim hearing on the matter is set for December 13, 2023 at 11
a.m.
A copy of the court's order and the Debtor's budget is available at
https://urlcurt.com/u?l=ALJcfl from PacerMonitor.com.
The Debtor projects $89,700 in income and $88,931 in total
expenses.
About Prize Management, LLC
Prize Management, LLC is a sand and gravel mining company which
operates on the land owned by Sand Ridge Development Assn., Inc.
The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. E.D. N.C. Case No. 23-02681) on September
14, 2023. In the petition signed by Alton Williams, Jr., president,
the Debtor disclosed up to $10 million in assets and up to $50
million in liabilities.
Judge Pamela W. McAffee oversees the case.
William P. Janvier, Esq., at Stevens Martin Vaugh & Tadych, PLLC,
represents the Debtor as legal counsel.
QUALITY IRON: Court OKs Interim Cash Collateral Access
------------------------------------------------------
The U.S. Bankruptcy Court for the Western District of Tennessee,
Western Division, authorized Quality Iron Fabricators, LLC and
affiliates to use cash collateral on an interim basis in accordance
with the budget.
The Debtors require the use of cash collateral to pay its existing
employees, vendors, subcontractors, and tax and regulatory
authorities, and satisfying other working capital and operational
requirements.
The Debtors are indebted to LFM Capital Partners, L.P. (as assignee
of First Horizon Bank, as successor by merger to IberiaBank) in an
amount in excess of $13 million. LFM holds valid, perfected, first
priority security in the Debtors' "Inventory, Chattel Paper,
Accounts, Equipment and General Intangibles" to secure the
repayment of the Senior Secured Debt.
As adequate protection of the interests of the creditors who are
ultimately found to hold a valid and perfected security interest in
the Debtors' cash collateral, each of those creditors is granted
valid, continuing, and automatically perfected security interests
and repl acement liens in the priority existing as of the Petition
Date in and upon all of the Debtors' properties and assets of the
same type or category that secured such creditor's claims as of the
Petition Date.
As additional adequate protection, LFM is granted as and to the
extent provided in 11 U.S.C. sections 503(b) and 507(b) an allowed
superpriority administrative expense claim in the Chapter 11 Cases
and any successor case for any Diminution in Value resulting from
the use of cash collateral by the Debtors.
LFM agrees that its prepetition liens, the Adequate Protection
Liens and the Superpriority Claims and its Collateral and cash
collateral willl be subject only to the right of payment and
priority of the following expenses to the extent provided therein:
a) all fees required to be paid to the Clerk of the Court and to
the U.S. Trustee pursuant to 28 U.S.C. section 1930(a)(6), together
with the statutory rate of interest, which will not be limited by
any budget; and
b) the allowed fees and expenses not to exceed $500,000 actually
incurred by the CRO and any persons or firms retained by the
Debtors on or after the Petition Date whose retention is approved
by this Court pursuant to 11 U.S.C. sections 327, 328, 363, or 1103
and payable, subject in all respects to the terms of the Order,
and any other interim or other compensation Order entered by the
Court in these Chapter 11 Cases.
Unless extended further with the prior written consent of LFM, the
authorization granted to the Debtors to use cash collateral will
automatically terminate upon the earliest to occur of:
(i) December 14, 2023;
(ii) Failure of the Debtors to have approved Sale Procedures
approved by the Court by November 29, 2023;
(iii) The entry of any order granting stay relief allowing any
party to enforce any claimed lien or other interest in the Debtors'
cash collateral;
(iv) The entry of an order (a) converting the Chapter 11 Case
to a case under Chapter 7 of the Bankruptcy Code, or (b) appointing
a Chapter 11 trustee or an examiner with enlarged powers relating
to the operations of any of the Debtors' businesses;
(v) 30 days from the entry of an order confirming any Chapter
11 plan or the effective date of an order confirming any Chapter 11
plan, whichever is shorter; and
(vi) The entry of an order granting any motion which seeks to
grant to a party other than LFM a lien or security interest equal
or senior to the liens and security interests held by LFM in any of
the cash collateral or other Lender Collateral.
A final hearing on the matter is set for December 13 at 11 a.m.
A copy of the court's order and the Debtor's budget is available at
https://urlcurt.com/u?l=VbOH2C from PacerMonitor.com.
The Debtor projects total cash disbursements, on a weekly basis, as
follows:
$432,498 for the week ending December 1, 2023;
$95,000 for the week ending December 8, 2023; and
$215,797 for the week ending December 15, 2023.
About Quality Iron Fabricators, LLC
Quality Iron Fabricators, LLC and affiliates operate as steel
products manufacturers.
The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. W.D. Tenn. Lead Case No. 23-25578) on
November 10, 2023. In the petition signed by Gary M. Murphey, chief
restructuring officer, Quality Iron Fabricators disclosed up to
$50,000 in assets and up to $50 million in liabilities.
Judge Ruthie Hagan oversees the case.
James E. Bailey III, Esq., at Butler Snow LLP, represents the
Debtor as legal counsel.
R L BURNS: Wins Cash Collateral Access Thru Jan 2024
----------------------------------------------------
The U.S. Bankruptcy Court for the Middle District of Florida,
Orlando Division, authorized R L Burns, Inc. to use cash collateral
on an interim basis through January 11 2023.
The Debtor is authorized to use cash collateral to pay: (a) amounts
expressly authorized by the Court, including payments to the United
States Trustee for quarterly fees; (b) current and necessary
expenses set forth in the; and (c) additional amounts as may be
expressly approved in writing by Creditor within 48 hours of the
Debtor's request.
Atlantic Specialty has a priority interest in the contract balances
arising from any Project and/or Contract for which it issued a
performance and payment bond. Atlantic Specialty has a priority
interest in any property and/or casualty insurance proceeds arising
from any Project and/or Contract for which it issued a performance
and payment bond.
As adequate protection, the 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 the SBA, Truist, and Guarantee.
A continued hearing on the matter is set for January 11, 2024 at
10:30 a.m.
A copy of the court's order and the Debtor's budget is available at
https://urlcurt.com/u?l=gePVHJ from PacerMonitor.com.
The Debtor projects total operating expenses, on a monthly basis,
as follows:
$29,520 for November 2023;
$29,520 for December 2023; and
$29,520 for January 2024.
About R L Burns, Inc.
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, represents the
Debtor as legal counsel.
RECORDED BOOKS: Goldman Sachs MML Marks $749,000 Loan at 46% Off
----------------------------------------------------------------
Goldman Sachs Middle Market Lending LLC II has marked its $749,000
loan extended to Recorded Books Inc (dba RBMedia) to market at
$407,000 or 54% of the outstanding amount, as of September 30,
2023, according to Goldman Sachs Middle Market Lending LLC II's
Form 10-Q for the Quarterly period ended, September 30, 2023, filed
with the Securities and Exchange Commission on November 7, 2023.
Goldman Sachs Middle Market Lending LLC II is a participant in a
First Lien Senior Secured Debt Loan Recorded Books Inc. (dba
RBMedia). The loan accrues interest at a rate of 11.66% (S +6.25%)
per annum. The loan matures on August 31, 2028.
Goldman Sachs Middle Market Lending LLC II was formed on February
21, 2020. Effective November 23, 2021, MMLC LLC II converted from a
Delaware limited liability company to a Delaware corporation named
Goldman Sachs Middle Market Lending Corp. II, which term refers to
either Goldman Sachs Middle Market Lending Corp. II or Goldman
Sachs Middle Market Lending Corp. II together with its consolidated
subsidiary, as the context may require), which, by operation of
law, is deemed for purposes of Delaware law the same entity as MMLC
LLC II. The Company commenced operations on October 29, 2021. On
November 23, 2021, the Company's initial investors funded the
initial portion of their capital commitment to purchase shares of
common stock, at which time the Initial Member's initial capital
contribution to MMLC LLC II was cancelled. The Company has elected
to be regulated as a business development company under the
Investment Company Act.
Recorded Books Inc. produces digital audiobooks. The Company offers
digital magazines, games, movies, language learning, ebooks,
educational offerings, and sports training products. Recorded Books
serves customers in the United States, Canada, and the United
Kingdom.
RITE AID: $425MM Bank Debt Trades at 22% Discount
-------------------------------------------------
Participations in a syndicated loan under which Rite Aid Corp is a
borrower were trading in the secondary market around 77.5
cents-on-the-dollar during the week ended Friday, November 24,
2023, according to Bloomberg's Evaluated Pricing service data.
The $425 million facility is a Term loan that is scheduled to
mature on August 20, 2026. About $398.1 million of the loan is
withdrawn and outstanding.
Rite Aid -- http://www.riteaid.com-- is a full-service pharmacy
chain that meets customer needs with a wide range of vehicles that
offer convenience, including retail and delivery pharmacy, as well
as services offered through its wholly owned subsidiaries, Elixir,
Bartell Drugs and Health Dialog. Elixir, Rite Aid's pharmacy
benefits and services company, consists of accredited mail and
specialty pharmacies, prescription discount programs and an
adjudication platform to offer superior member experience and cost
savings. Health Dialog provides healthcare coaching and disease
management services via live online and phone health services.
Bartell Drugs is a regional chain that has supported the health and
wellness needs in the Seattle area for more than 130 years.
RIVERBED TECHNOLOGY: $375MM Bank Debt Trades at 31% Discount
------------------------------------------------------------
Participations in a syndicated loan under which Riverbed Technology
Inc is a borrower were trading in the secondary market around 69.3
cents-on-the-dollar during the week ended Friday, November 24,
2023, according to Bloomberg's Evaluated Pricing service data.
The $375 million facility is a payment-in-kind Term loan that is
scheduled to mature on July 1, 2028. The amount is fully drawn and
outstanding.
Riverbed Technology, Inc. provides application performance
monitoring, cloud migration, network performance monitoring, and
security solutions. Riverbed Technology serves customers globally.
ROOF HEROES: Wins Interim Cash Collateral Access
------------------------------------------------
The U.S. Bankruptcy Court for the Middle District of Florida, Fort
Myers, authorized Roof Heroes LLC to use cash collateral on an
interim basis in accordance with the budget.
The Debtor's Lenders are:
Cucumber Capital LLC - $224,850
Everest Business Funding - $100,000
Velocity Capital Group - $84,000
As adequate protection for the use of cash collateral, the Lenders
are granted a replacement lien on the all post-petition property of
the Debtor that is of the same nature and type as Lenders'
pre-petition collateral.
A further hearing on the matter is set for December 18, 2023 at
1:30 p.m.
A copy of the order is available at https://urlcurt.com/u?l=1SmMq0
from PacerMonitor.com.
About Roof Heroes
Roof Heroes, LLC filed a petition under Chapter 11, Subchapter V of
the Bankruptcy Code (Bankr. M.D. Fla. Case No. 23-01235) on Oct.
14, 2023, with up to $50,000 in assets and $100,001 to $500,000 in
liabilities.
Judge Caryl E. Delano oversees the case.
Joel M. Aresty, Esq., at Joel M. Aresty, P.A. represents the Debtor
as legal counsel.
RUBY GORDON: Hits Chapter 11 Bankruptcy Protection
--------------------------------------------------
Thomas Lester of Furniture Today reports that third-generation home
furnishings retailer Ruby-Gordon Home filed for Chapter 11
bankruptcy protection Nov. 20 in the U.S. Bankruptcy Court Western
District of New York.
Aaron Ruby, owner and CEO of the two-store, Rochester-based
retailer, told Furniture Today that the filing is an effort to get
back on track. He said pressures created during the pandemic, plus
Klaussner's sudden closure earlier this year proved to be too
much.
"We've been struggling to recover since 2020. Unfortunately, in the
last eight months, too much went sideways in too short an amount of
time. Klaussner going out the way they did was the straw that broke
our back," Ruby said. "We're hoping that Chapter 11 gives us a
chance at having a future, we're just not certain exactly what that
will look like."
In the filing, Ruby-Gordon listed an estimated $1,000,001 to $10
million in total assets with $1,000,001 to $10 million in total
liabilities to an estimated 100 to 199 creditors.
Ruby-Gordon was founded in in 1936 by Frank Ruby. Six years later,
he partnered with Ted Gordon. Ray Ruby, Frank's son served as
second generation owner and spearheaded the move to Henrietta, one
of Rochester's suburbs, in the 1960s.
Today, it is owned by Ray's son Aaron and his wife, Janetta Ruby,
who represent the third generation of family ownership.
In addition to its Henrietta flagship Ruby-Gordon has a second
Rochester showroom in Greece Ridge.
About Ruby Gordon
Ruby Gordon LLC retails household furniture. The Company provides
sofa, chairs, recliners, tables, benches, sleepers, pillows, rugs,
desks, chairs, file storage, cabinets, bar stools, mattresses,
bunkbeds, and other household furnitures. Ruby-Gordon serves
customers in the State of New York.
Ruby Gordon LLC sought relief under Subchapter V of Chapter 11 of
the U.S. Bankruptcy Code (Bankr. W.D.N.Y. Case No. 23-20594) on
Nov. 20, 2023. In the petition signed by Aaron Ruby, as CEO, the
Debtor reports estimated assets and liabilities between $1 million
and $10 million each.
The Debtor is represented by:
Raymond C. Stilwell, Esq.
3737 West Henrietta Road
Rochester, NY 14623
RVR DEALERSHIP: $796MM Bank Debt Trades at 19% Discount
-------------------------------------------------------
Participations in a syndicated loan under which RVR Dealership
Holdings LLC is a borrower were trading in the secondary market
around 81.4 cents-on-the-dollar during the week ended Friday,
November 24, 2023, according to Bloomberg's Evaluated Pricing
service data.
The $796 million facility is a Term loan that is scheduled to
mature on February 8, 2028. About $782.1 million of the loan is
withdrawn and outstanding.
Headquartered in Florida, RVR Dealership Holdings, LLC -- RV
Retailer -- operates 106 dealerships in 33 with a significant
presence in Texas. The company is among the top two RV dealership
groups in the country. For the LTM period
ending June 30, 2023, revenue was approximately $3.0 billion. The
company is majority owned by Redwood Capital.
S VALLEY: Court OKs Cash Collateral Access Thru Feb 2024
--------------------------------------------------------
The U.S. Bankruptcy Court for the District of Nevada authorized S
Valley View Twain, LLC to use cash collateral on an emergency,
interim basis in accordance with the budget, with a 15% variance,
pending a final hearing set for February 6, 2024 at 9:30 a.m.
As for adequate protection, TerraCotta Credit REIT, LLC will
receive the following: (a) pursuant to 11 U.S.C. section 364(c)(1),
a superpriority claim under 11 U.S.C. section 507(b) against the
Debtor and its estate; and (b) pursuant to 11 U.S.C. section
361(2), valid and perfected replacement security interests in and
liens upon the Debtor's assets and property, and proceeds thereof,
but in all events, only to the extent of: (a) any decrease in value
of its properly perfected security interests resulting from the use
of cash collateral or alleged cash collateral therein, and (b) to
the extent of its pre-petition properly perfected security interest
in and to any of the Debtor's property.
A copy of the order is available at https://urlcurt.com/u?l=byM5MO
from PacerMonitor.com.
About S Valley View Twain, LLC
S Valley View Twain, LLC owns an investment property located at
3610-3686 Highland Drive and 3675 Procyon Street, Las Vegas, NV
89103 valued at $21.7 million.
The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Nev. Case No. 23-14672) on October 23,
2023. In the petition signed by Jason Choo, manager, the Debtor
disclosed $21,716,815 in total assets and $11,388,733 in total
liabilities.
Judge Natalie M. Cox oversees the case.
Zachariah Larson, Esq., at Larson & Zirzow, LLC, represents the
Debtor as legal counsel.
SCHON ELISE: Seeks to Extend Plan Exclusivity to December 20
------------------------------------------------------------
Schon Elise, LLC asked the U.S. Bankruptcy Court for the District
of Nevada to extend its exclusivity periods to propose a plan of
reorganization and to confirm the plan to December 20, 2023 and
January 22, 2024, respectively.
The Debtor stated the underlying circumstances that led to the
filing of its chapter 11 have created complexity. The Debtor
explained that a state court receiver was imposed over the
former, primary tenant of the Debtor's commercial property,
Bandar Enterprises, LLC. The receiver eventually determined that
it was not viable to continue paying rent to the Debtor, which in
turn deprived the Debtor of the funds necessary to meet its
obligations to secured creditor Bank of the West culminating in
the initiation of a foreclosure and then this chapter 11.
The Debtor also stated that it has moved diligently to retain a
licensed broker to market its property, but due to challenging
market conditions, a concrete offer took longer to materialize
than preferred.
Nevertheless, the Debtor explained that the pending sale of its
APN 024 property is a tangible and material step towards the
Debtor's intended reorganization efforts.
Unless extended, the Debtor's exclusive periods for proposing a
plan of reorganization and to confirm the plan expires on
September 21, 2023 and October 23, 2023, respectively.
Schon Elise, LLC is represented by:
Davin Mincin, Esq.
MINCIN LAW, PLLC
7465 W. Lake Mead Boulevard, #100
Las Vegas, NV 89128
Tel: (702) 852-1957
Email: dmincin@mincinlaw.com
About Schon Elise
Las Vegas-based Schon Elise, LLC is a single asset real estate
(as defined in 11 U.S.C. Section 101(51B)).
Schon Elise filed its voluntary Chapter 11 petition (Bankr. D.
Nev. Case No. 23-12086) on May 24, 2023, with as much as $50,000
in assets and $1 million to $10 million in liabilities. Heath
Wills, manager, signed the petition.
Judge Mike K. Nakagawa oversees the case.
David Mincin, Esq., at Mincin Law, PLLC represents the Debtor as
bankruptcy counsel.
SDPBC ACQUISITION: Court OKs Cash Collateral Access Thru Dec 21
---------------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of California
authorized SDPBC Acquisition LP to continue to use cash collateral
on an interim basis in accordance with the budget, through December
21, 2023.
The Debtor has experienced insufficient sales to cover its
operating costs, which has led to extended periods of monthly net
losses. Pre-petition, the Debtor reduced its operating costs by,
among other things, downsizing its office space (from approximately
4880 square feet to approximately 750 square feet), laying off
employees from 54 employees to 39, eliminating any non-essential
expenses, and reducing the volume of the raw materials purchased so
that only the specific quantities and amounts needed to produce a
remaining order is procured.
The Debtor has already maxed out its financing opportunities and
does not perceive a realistic path for continuing its operations in
its present configuration. Lenders have become more impatient, and
the Debtor has been subject to creditor action against it.
In Chapter 11, the Debtor intends to conduct an orderly sale of
assets and propose a liquidating plan. The wind-down and sale of
assets is expected to last approximately two to three months and is
expected to yield approximately $2.5 million in proceeds for the
benefit of creditors.
The Debtor has a number of secured creditors possessing liens in
the Debtor's property.
The Secured Creditors are Liberty Capital Group , Primary Funding
Corp, Nola Holdings LLC, and 1498502 Alberta Ltd.
On the Petition Date, the Debtor had approximately $9,700 in cash
in its account, and approximately $534,091 in outstanding net trade
accounts receivable. In addition, the Debtor had finished inventory
valued at approximately $300,000 on the Petition Date. The total
amount of the Debtor's cash, outstanding accounts receivable, and
finished inventory as of the Petition Date is therefore
approximately $843,790.
As adequate protection, the parties possessing a lien in the
Debtor's cash collateral on the petition date will possess a valid,
perfected, continuing replacement lien in the cash collateral in an
amount equal to their allowed interest, if any, in the cash
collateral existing as of the petition date in the order of the
Secured Parties' relative priorities.
The Replacement Lien will be a valid, continuing, and perfected
lien without the need for any execution, filing or recordation of
any mortgage, deed or trust, security agreement, pledge agreement,
or financing statement of any kind.
A hearing on the matter is set for December 18 at 11 a.m.
A copy of the order is available at https://urlcurt.com/u?l=yk0YTh
from PacerMonitor.com.
About SDPBC Acquisition LP
The Debtor provides optimized design and manufacturing of retail
and specialty packaging. Its capabilities include custom print and
finishes, as well as fulfillment services providing box assembly,
product packaging, product storage, and kitting.
SDPBC Acquisition LP in San Diego, CA, filed its voluntary petition
for Chapter 11 protection (Bankr. S.D. Cal. Case No. 23-03065) on
October 5, 2023, listing as much as $1 million to $10 million in
both assets and liabilities. Paul E. Mayer as manager of SDPBC
Holdings LLC, General Partner of the Debtor, signed the petition.
Judge Christopher Latham oversees the case.
LAW OFFICES OF KIT J. GARDNER serve as the Debtor's legal counsel.
SINTX TECHNOLOGIES: May Sell Up to $75 Million in Securities
------------------------------------------------------------
SINTX Technologies, Inc. filed with the Securities and Exchange
Commission Amendment No. 1 to its Form S-3 Registration Statement.
The Company submitted the Registration Statement in connection with
the offer and sale of up to $75 million of any combination of
Common Stock, Preferred Stock, Debt Securities, Warrants, Rights
and Units.
The registration statement contains:
* a base prospectus which covers the offering, issuance and
sale by the Company of up to $75,000,000 in the aggregate of the
securities identified herein from time to time in one or more
offerings; and
* an equity distribution agreement prospectus covering the
offering, issuance and sale by the Company of up to a maximum
aggregate offering price of $1,100,000 of our common stock that may
be issued and sold under an equity distribution agreement with
Maxim Group LLC, which provides for the offer and sale of shares of
our common stock having an aggregate offering price of up to $15
million.
"We may offer shares of common stock and shares of preferred stock,
various series of debt securities, warrants to purchase any of such
securities, and rights to purchase shares of common stock, shares
of preferred stock or warrants, either individually or in units,
with a total value of up to $75.0 million from time to time under
this prospectus, together with any applicable prospectus supplement
and related free writing prospectus, at prices and on terms to be
determined by market conditions at the time of offering," the
Company said.
"We may sell the securities directly to or through underwriters,
dealers or agents. We, and our underwriters or agents, reserve the
right to accept or reject all or part of any proposed purchase of
securities. If we do offer securities through underwriters or
agents, we will include in the applicable prospectus supplement
names of those underwriters or agents; applicable fees, discounts
and commissions to be paid to them; details regarding
over-allotment options, if any; and the net proceeds to us.
"As of November 21, 2023, the aggregate market value of our
outstanding common stock held by non-affiliates, or the public
float, was approximately $3,437,003, which was calculated based on
4,207,374 shares of outstanding common stock held by non-affiliates
and on a price per share of $0.8169, the closing price of our
common stock on The NASDAQ Capital Market on October 10. During the
12 calendar months prior to and including the date of this
prospectus, we have sold approximately $38,183 of shares of common
stock pursuant to General Instruction I.B.6 of Form S-3. Pursuant
to General Instruction I.B.6 of Form S-3, in no event will we sell
securities registered on this registration statement in a public
primary offering with a value exceeding more than one-third of our
public float (the market value of our common stock held by our
non-affiliates) in any 12-month period so long as our public float
remains below $75.0 million. As of November 21, one-third of our
public float is equal to approximately $1,145,667.
"Our Board of Directors has the authority under our Restated
Certificate of Incorporation, without further action by our
shareholders, to issue up to 250,000,000 shares of common stock
(including shares of common stock outstanding as of the date
hereof). We may offer shares of common stock from time to time."
A full-text copy of Form S-3 is available at
https://tinyurl.com/4fm72fr2
About SINTX Technologies
Headquartered in Salt Lake City, Utah, SINTX Technologies, Inc. --
https://ir.sintx.com/ -- is an advanced ceramics company that
develops and commercializes materials, components, and technologies
for biomedical, technical, and antipathogenic applications. The
core strength of SINTX Technologies is the manufacturing, research,
and development of advanced ceramics for external partners.
SINTX reported net loss of $12.04 million in 2022, a net loss of
$9.31 million in 2021, a net loss of $7.03 million in 2020, and a
net loss of $4.79 million in 2019. For the six months ended June
30, 2023, the Company reported a net loss of $2.75 million.
As of Sept. 30, 2023, the Company had $15.51 million in total
assets, $4.82 million in total liabilities, and $10.69 million in
total stockholders' equity.
SINTX disclosed in a Form 8-K filed with the Securities and
Exchange Commission that on Oct. 20, 2023, the Company received a
notice from Nasdaq Listing Qualifications department of the Nasdaq
Stock Market LLC stating that the bid price of the Company's common
stock for the 30 consecutive trading days prior to Oct. 20, 2023
had closed below the minimum $1.00 per share required for continued
listing under Listing Rule 5550(a)(2).
In its Quarterly Report on Form 10-Q for the three months ended
Sept. 30, 2023, SINTX said, "If the Company seeks to obtain
additional equity and/or debt financing, such funding is not
assured and may not be available to the Company on favorable or
acceptable terms and may involve significant restrictive covenants.
Any additional equity financing is also not assured and, if
available to the Company, will most likely be dilutive to its
current stockholders. If the Company is not able to obtain
additional debt or equity financing on a timely basis, the impact
on the Company will be material and adverse. These uncertainties
raise substantial doubt about our ability to continue as a going
concern."
SPRINGFIELD MEDICAL: Wins Cash Collateral Access on Final Basis
---------------------------------------------------------------
The U.S. Bankruptcy Court for the Eastern District of New York
authorized Springfield Medical Aesthetic PC to use cash collateral
on a final basis in accordance with the budget, with a 10%
variance.
The Debtor has one substantially secured creditor, the U.S. Small
Business Administration, and several wholly unsecured merchant cash
advance creditors.
The SBA is owned approximately $751,000 and holds a blanket
security agreement and UCC-1 covering all of the Debtor's assets.
The Debtor also has three merchant cash advance lenders. These
creditors are:
a) Fox Capital Group $60,000
b) Fund Box $24,324
c) Mcrk Funding $37,000
Each of these creditors have filed UCC-1 but all of the alleged
creditors UCC-1 's are subordinate to the SBA's lien.
The Debtor is directed to remit monthly adequate protection
payments in the amount of $800 to the SBA to be paid by the fifth
day of the month.
To the extent of any diminution in the value of the SBA's
collateral, including its cash collateral, the SBA is granted
valid, binding and enforceable post-petition replacement liens upon
and security interests in all assets of the Debtor, regardless of
whether such assets are acquired by the Debtor prior to the
Petition Date or after the Petition Date which liens will be senior
to all other security interest in, liens upon or claims against any
of the Collateral, subject to the Carve Out.
The Replacement Liens will be subject and subordinate only to: (a)
U.S. Trustee fees payable under 28. U.S.C. Section 1930 and 31
U.S.C Section 3717; (b) professional fees of duly retained
professionals in this Chapter 11 case as may be awarded pursuant to
Sections 330 of 331 of the Code or pursuant to any monthly fee
order entered in the Debtor's Chapter 11 case; (c) the fees and
expenses of a hypothetical Chapter 7 trustee to the extent of
$10,000; and (d) the recovery of funds or proceeds from the
successful prosecution of avoidance actions pursuant to 11 U.S.C.
Sections 502(d), 544, 545,547, 548, 549, 550 or 553.
These events constitute a Termination Event:
i. Entry of an order by the Bankruptcy Court converting or
dismissing the Chapter 11 Case;
ii. Entry of an order by the Bankruptcy Court appointing a
chapter 11 trustee in the Chapter 11 Case;
iii. The failure of the Debtor to perform or comply in any
material respect with any term or provision of the Final Order;
iv. Entry of an order that stays, reverses, vacates, amends, or
rescinds any of the terms of this Final Order, or order approving
the Final Order, without the consent of the Prepetition Lender;
v. The Debtor ceases operations without the prior written
consent of the Prepetition Lender, except to the extent
contemplated by the Budget.
A copy of the order is available at https://urlcurt.com/u?l=w65OvJ
from PacerMonitor.com.
About Springfield Medical Aesthetic P.C.
Springfield Medical Aesthetic P.C. operates a general medical and
surgical hospital.
The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. E.D. N.Y. Case No. 23-73221) on August 31,
2023. In the petition signed by Emmanuel O. Asare, president, the
Debtor disclosed $13,448 in total assets and $1,421,650 in total
liabilities.
Judge Robert E. Grossman oversees the case.
Heath S. Berger, Esq., at Berger, Fischoff, Shumer, Wexler &
Goodman, LLP, represents the Debtor as legal counsel.
SRPC PROPERTIES: Selling Corpus Christi Properties for $210,000
---------------------------------------------------------------
SRPC Properties, LLC asked the U.S. Bankruptcy Court for the
District of Wyoming to sell its real properties in Corpus Christi,
Texas.
The company received a $210,000 cash offer from Jesus Amaro, Jr.
and Sandra Amaro for the properties located at 1645 14th St., 1649
14th St., and 1653 14th St. in Corpus Christi.
The proposed sale is scheduled to close on Dec. 18.
SRPC will use the net proceeds from the sale to pay its secured
lender WINPRO Debt Opportunity Fund II, LLC after payment of the
broker's commission and closing costs totaling $15,500.
SRPC owes the sum of $294,770 to its secured lender, which holds a
lien on the Corpus Christi properties.
About SRPC Properties
SRPC Properties, LLC is in the business of purchasing investment
properties. The company is based in Cheyenne, Wyo.
SRPC filed Chapter 11 petition (Bankr. D. Wyo. Case No. 23-20180)
on May 25, 2023, with $2,694,635 in assets and $1,725,437 in
liabilities. Shirley Carson, member, signed the petition.
Judge Cathleen D. Parker oversees the case.
Bradley T. Hunsicker, Esq., at Markus Williams Young and Hunsicker,
represents the Debtor as legal counsel.
STAR ALLIANCE: Inks Memorandum of Understanding With Knightsbridge
------------------------------------------------------------------
Star Alliance International Corp disclosed in a Form 8-K filed with
the Securities and Exchange Commission that it signed a Memorandum
of Understanding with the Knightsbridge Group, outlining the mutual
intentions of the Parties to collaborate and leverage their
respective strengths to achieve the following objectives:
1. Market Expansion in Asia: Knightsbridge will assist STAL in
identifying and tapping into new investor markets in Asia. This
includes providing market research, strategy development, and
networking to facilitate STAL's investor outreach.
2. Development of Gold-Backed Digital Asset: Knightsbridge will
develop and issue a DGC (Digital Gold Coin) backed by STAL's gold
assets.
3. Exploration of Digital Asset Opportunities: Knightsbridge
will work with STAL to explore additional opportunities related to
digital assets, equity, and derivatives that can enhance STAL's
financial standing and growth.
4. Legal Representation: Knightsbridge will provide legal
representation and advisory services to STAL in Asian markets and
with foreign regulators, ensuring that STAL operates within the
regulatory framework and remains compliant with applicable laws.
5. Equity Issuance: In consideration of the services provided by
Knightsbridge, STAL will issue 50,000 shares of Preferred D and
48,000,000 shares of common to Knightsbridge Group. In addition,
STAL will allow Knightsbridge to retain 10% of the DGC (Digital
Gold Coin) which will be developed and issued specifically for this
project.
The specific terms of the Series D Preferred Shares are yet to be
determined and will be negotiated and disclosed upon completion of
the definitive agreement.
About Star Alliance
Headquartered in Las Vegas, NV, Star Alliance International Corp.
is an exploration-stage company that focuses on acquisition and
development of gold mining and other mining properties worldwide,
environmentally safe technologies both in mining and other business
areas. As of Oct. 13, 2023, the Company has not commenced its
mining operations. The Company anticipates starting its mining
operations in 2024. The Company is also exploring acquisitions of
assets or majority interests in companies related to artificial
intelligence technology and in the fintech arena acquiring
proprietary software technology.
Denver, Colorado-based Gries & Associates, LLC, the Company's
auditor since 2021, issued a "going concern" qualification in its
report dated Oct. 12, 2023, citing that the Company has incurred
losses since inception of $25,547,794. For the year ended June 30,
2023, the Company had a net loss of $10,489,394. These factors
create an uncertainty as to the Company's ability to continue as a
going concern.
STEEL HUGGERS: Seeks Cash Collateral Access
-------------------------------------------
Steel Huggers, LLC asks the U.S. Bankruptcy Court for the District
of Colorado for authority to use cash collateral in accordance with
the budget, with a 20% variance and provide adequate protection.
The Debtor owes the Colorado Department of Revenue approximately
$24,457 in wage withholding taxes. Colorado may have a statutory
lien against the Debtor's assets.
The Debtor entered into an EIDL loan agreement with the Small
Business Association on May 2020, as amended or extended. The SBA
perfected its lien interest with the filing of a UCC-1 Financing
Statement on May 27, 2020 alleging a lien against the Debtor's
accounts and receivables, as well as other assets. The Debtor's
records reflect that SBA was owed approximately $500,000.
On June 14, 2023, the Debtor entered into a Future Receivables Sale
and Purchase Agreement with Fox Capital Group, Inc. Pursuant to the
Agreement, the Debtor appears to be indebted to Fox in the amount
of $405,000. The Agreement purports to grant a secured interest in
the Debtor's receivables and the Debtor's accounts. Fox perfected
its interest with the filing of a UCC-1 Financing Statement on
April 3, 2023, and upon information and belief, Fox was owed
approximately $320,146 as of the Petition Date.
On June 14, 2023, the Debtor entered into a Standard Merchant Cash
Advance Agreement with LG Funding Group, LLC for a loan in the
amount of approximately $285,600. LG perfected its interest with
the filing of a UCC-1 Financing Statement on October 9, 2023 and
the Debtor's books and records reflect that LG was owed
approximately $102,499 as of the Petition Date.
As adequate protection, the Secured Creditors will be granted a
post-petition lien on all postpetition accounts receivable and
contracts and income derived from the operation of the business and
assets, to the extent that the use of the cash results in a
decrease in the value of the Secured Creditors' interest in the
collateral pursuant to 11 U.S.C. section 361(2). All replacement
liens will hold the same relative priority to assets as did the
pre-petition liens.
The Debtor will keep all of the Secured Creditors' collateral fully
insured in an amount consistent with pre-petition coverage.
A copy of the motion is available at https://urlcurt.com/u?l=gmpNxu
from PacerMonitor.com.
About Steel Huggers
Steel Huggers LLC is a steel-fabrication company located in
unincorporated Weld County just outside Longmont.
Steel Huggers LLC sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Col. Case No. 23-1529) on Nov. 15, 2023.
In the petition filed by Nic Malwitz, as manager, the Debtor
estimated assets up to $50,000 and estimated liabilities between $1
million and $10 million.
Keri L. Riley, Esq., at Kutner Brinen Dickey Riley PC, represents
the Debtor as legal counsel.
T&J OF BROOKSVILLE: Files Emergency Bid to Use Cash Collateral
--------------------------------------------------------------
T&J of Brooksville LLC asks the U.S. Bankruptcy Court for the
Middle District of Florida, Tampa Division, for authority to use
cash collateral to fund its operating expenses and the costs of
administering the Chapter 11 case.
The Debtor has a single secured obligation to Snell Isle Realty,
LLC in the amount of $2.050 million.
The Debtor's purchase of the Park was financed by the seller, Snell
Isle, and was memorialized by a Loan Agreement, Purchase Money
Promissory Note, Purchase Money Mortgage and Security Agreement,
and Assignment of Leases and Rents executed on January 31, 2020.The
remainder of the purchase price paid by T&J of the Gardens, LLC.
In conjunction with the Loan Agreement, Snell Isle also filed a
UCC-1 financing statement asserting a blanket lien on all of the
Debtor's assets, including accounts.
The entire $2.050 million balance remains due as of the Petition
Date, with the Debtor responsible for monthly interest payments for
the term of the loan.
The Debtor disputes the validity and amount of Snell Isle's secured
interest and this dispute is the subject of litigation pending in
the Fifth Judicial Circuit for Hernando County Florida.
The cash collateral the Debtor seeks to use is comprised of cash on
hand and funds received during normal business operations, which
may be encumbered by Snell Isle's liens. As of the Petition Date,
the Debtor had cash on hand of approximately $11,054 and, at the
time of filing the Motion, the Debtor has $6,435 in rents
receivable.
In exchange for the Debtor's ability to use cash collateral in the
operation of its business, the Debtor proposes to grant Snell Isle,
as adequate protection, replacement liens to the same extent,
validity, and priority as existed on the Petition Date.
A copy of the order is available at https://urlcurt.com/u?l=Efzqsd
from PacerMonitor.com.
About T&J of Brooksville LLC
T&J of Brooksville LLC is a lessor of residential buildings and
dwellings. The Debtor is the owner of real property located at 626
South Broad St, Brooksville, FL 34601 valued at $1.30 million.
The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. M.D. Fla. Case No. 23-05076) on November 9,
2023. In the petition signed by Tom May, authorized member, the
Debtor disclosed $1,320,754 in assets and $3,735,057 in
liabilities.
TAMPA BAY PLUMBERS: Court OKs 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 January 11 at 1:30
p.m.
A copy of the order is available at https://urlcurt.com/u?l=Ydx4lP
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.
TNT INDUSTRIES: Seeks Cash Collateral Access
--------------------------------------------
TNT Industries, LLC asks the U.S. Bankruptcy Court for the District
of Utah, Central Division, for authority to use cash collateral and
provide adequate protection.
The Debtor requires the use of cash collateral to pay ongoing
operating expenses of the Debtor including employee salaries,
material purchases and other essential day-to-day expenses.
The Debtor has experienced disruptions in operations due to
economic events and difficulties caused by COVID-19. This has led
to an excess of unusable materials, subcontractor work, and
cancellations of agreements with general contractors. The Debtor's
focus has historically been exterior construction, but its revenue
has not increased. To address these shortages, the Debtor has
employed debt and scaled back to its historic business model. This
has resulted in inconsistent cash flow and the Debtor is unable to
pay all current debts.
The United States Small Business Administration, Advanced
Servicing, Inc., Cloudfund, LLC, and Kapitus, LLC assert an
interest in the Debtor's cash collateral.
The SBA appears to be the senior creditor.
The Debtor is proposing to make the ongoing monthly payments to SBA
and only as and when due in the ordinary course of its business,
and such payments constitute adequate protection for the Debtor's
use of SBA's cash collateral.
The Court has authorized the Debtor to make the regular payments to
SBA of approximately $2,500 as adequate protection of SBA’s
security interest pursuant to the agreement with SBA.
The Debtor proposes not to make adequate protection payments to
Advanced Servicing, Cloudfund and Kapitus or any other alleged
secured creditor as they are junior to SBA. Instead, the Debtor
seeks to grant replacement liens on new income, to ensure the
secured creditors are adequately protected.
A copy of the motion is available at https://urlcurt.com/u?l=o9tO2K
from PacerMonitor.com.
About TNT Industries
TNT Industries, LLC sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Utah Case No. 23-24401) on Oct. 1, 2023.
In the petition signed by Gabriel Tilley, managing member, the
Debtor disclosed up to $1 million in both assets and liabilities.
Judge William T. Thurman oversees the case.
Geoffrey L. Chesnut, Esq., at Red Rock Legal Services, PLLC serves
as the Debtor's counsel.
TNT INDUSTRIES: Wins Cash Collateral Access on Final Basis
----------------------------------------------------------
The U.S. Bankruptcy Court for the District of Utah, Central
Division, authorized TNT Industries, LLC to use cash collateral on
a final basis in accordance with the budget.
As previously reported by the Troubled Company Reporter, based on a
UCC search performed on July 10, 2023, the Debtor has identified
potentially four allegedly secured creditors with a potential
interest in personal property of the Debtor, more specifically U.S.
Small Business Administration, Advanced Servicing, Inc., Cloudfund,
LLC and Kapitus, LLC believed to be represented by either C T
Corporation System or Corporation Service Company, as
Representative. Based on the filing dates, SBA appears to be the
senior creditor. The Debtor proposed to make the ongoing monthly
payments to SBA and only as and when due in the ordinary course of
its business, and such payments constitute adequate protection for
the Debtor's use of SBA's cash collateral.
The court said the Debtor is authorized to make payments to secured
creditor U.S. Small Business Administration in the amount of
approximately $2,500 per month but only as and when due in the
ordinary course of its business, and such payments constitute
adequate protection for the Debtor’s use of U.S. Small Business
Administration's cash collateral.
A copy of the court's order is available at
https://urlcurt.com/u?l=EVrGw4 from PacerMonitor.com.
About TNT Industries
TNT Industries, LLC sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Utah Case No. 23-24401) on Oct. 1, 2023.
In the petition signed by Gabriel Tilley, managing member, the
Debtor disclosed up to $1 million in both assets and liabilities.
Judge William T. Thurman oversees the case.
Geoffrey L. Chesnut, Esq., at Red Rock Legal Services, PLLC serves
as the Debtor's counsel.
TPT GLOBAL: Delays Filing of Third Quarter Form 10-Q
----------------------------------------------------
TPT Global Tech, Inc. disclosed in Form 12b-25 filed with the
Securities and Exchange Commission that it was unable without
unreasonable effort and expense to prepare its accounting records
and schedules in sufficient time to allow its accountants to
complete their review of the Company's financial statements for the
period ended Sept. 30, 2023, before the required filing date for
the Quarterly Report on Form 10-Q.
The Company intends to file the subject Quarterly Report on Form
10-Q on or before the fifth calendar day following the prescribed
due date.
About TPT Global Tech
TPT Global Tech Inc. (OTC:TPTW) based in San Diego, California, is
a technology holding company based in San Diego, California. The
Company operates in various sectors including media,
telecommunications, Smart City Real Estate Development, and the
launch of the first super App, VuMe technology platform. As a
media content delivery hub, TPT Global Tech utilizes its own
proprietary global digital media TV and telecommunications
infrastructure platform. TPT offers software as a service (SaaS),
technology platform as a service (PAAS), and cloud-based unified
communication as a service (UCaaS) solutions to businesses
worldwide. Their UCaaS services enable businesses of all sizes to
access the latest voice, data, media, and collaboration features.
TPT Global reported a net loss attributable to the Company's
shareholders of $61.50 million for the year ended Dec. 31, 2022,
compared to a net loss attributable to the Company's shareholders
of $4.02 million for the year ended Dec. 31, 2021. As of Dec. 31,
2022, the Company had $1.05 million in total assets, $34.02 million
in total liabilities, $58.25 million in mezzanine equity, and a
total stockholders' deficit of $91.21 million.
Draper, UT-based Sadler, Gibb & Associates, LLC, the Company's
auditor since 2016, issued a "going concern" qualification in its
report dated May 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.
US RENAL CARE: $1.25BB Bank Debt Trades at 35% Discount
-------------------------------------------------------
Participations in a syndicated loan under which US Renal Care Inc
is a borrower were trading in the secondary market around 65.0
cents-on-the-dollar during the week ended Friday, November 24,
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.
VALCOUR PACKAGING: $420MM Bank Debt Trades at 21% Discount
----------------------------------------------------------
Participations in a syndicated loan under which Valcour Packaging
LLC is a borrower were trading in the secondary market around 78.8
cents-on-the-dollar during the week ended Friday, November 24,
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.
VENTURE INC: Court OKs Cash Collateral Access Thru Dec 4
--------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of Mississippi
authorized Venture, Inc. and affiliates to use cash collateral on
an interim basis in accordance with the budget, with a 10%
variance, thru December 4, 2023.
Moran Foods, LLC, f/k/a Moran Foods, Inc., d/b/a Save-A- Lot, Ltd.
asserts an interest in the Debtor's cash collateral.
As adequate protection, the Lender is granted valid, perfected and
continuing, replacement security interests in, and liens on all of
the Debtors' rights, titles and interests in, to and under the
Collateral, in the same position and to the same extent as Lender's
Liens on the Prepetition Collateral.
The Lender is also granted superpriority claims, junior only to the
Carve-Out.
The Debtors will maintain insurance with respect to all Prepetition
Collateral and Post-petition Collateral, whether real or personal
property, for the benefit of the Lender, which will be named as
loss payees or co-insured.
A final hearing on the matter is set for November 30 at 1:30 p.m.
A copy of the order is available at https://urlcurt.com/u?l=92gCub
from PacerMonitor.com.
About Venture Inc.
Venture Inc. and its affiliates filed their voluntary petitions for
relief under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Miss.
Lead Case No. 23-02186) on Sept. 22, 2023. In the petitions signed
by Daniel K. Myers, president, Venture Inc. disclosed up to $1
million in estimated assets and up to $10 million in total
liabilities.
Judge Jamie A. Wilson oversees the case.
The Debtors tapped Newman & Newman and the Law Offices of Craig M.
Geno, PLLC as counsel and Harper Rains Knight & Company, PA as
financial advisor.
VERITAS FARMS: Incurs $1.1 Million Net Loss in Third Quarter
------------------------------------------------------------
Veritas Farms, Inc. filed with the Securities and Exchange
Commission its Quarterly Report on Form 10-Q disclosing a net loss
of $1.13 million on $235,941 of revenues for the three months ended
Sept. 30, 2023, compared to a net loss of $979,232 on $100,205 of
revenues for the three months ended Sept. 30, 2022.
For the nine months ended Sept. 30, 2023, the Company reported a
net loss of $3.47 million on $615,593 of revenues, compared to a
net loss of $2.87 million on $795,044 of revenues for the nine
months ended Sept. 30, 2022.
As of Sept. 30, 2023, the Company had $8.32 million in total
assets, $8.11 million in total liabilities, and $207,462 in total
shareholders' equity.
Veritas Farms stated, "The Company has sustained substantial losses
from operations since its inception. As of and for the period
ended September 30, 2023, the Company had an accumulated deficit of
$43,250,384, and a net loss attributable to common shareholders of
$3,775,762. These factors, among others, raise substantial doubt
about the ability of the Company to continue as a going concern. A
going concern disclosure means that there is substantial doubt that
the company can continue as an ongoing business for a period of at
least the next 12 months from the date the financial statements are
issued. Continuation as a going concern is dependent on the
ability to raise additional capital and financing until the Company
can achieve a level of operational profitability, though there is
no assurance of success."
A full-text copy of the Form 10-Q is available for free at:
https://www.sec.gov/ix?doc=/Archives/edgar/data/1669400/000121390023087149/f10q0923_veritasfarms.htm
About Veritas
Fort Lauderdale, Florida-based Veritas Farms, Inc. --
www.TheVeritasFarms.com -- is a vertically-integrated agribusiness
focused on growing, producing, marketing, and distributing superior
quality, whole plant, full spectrum hemp oils and extracts
containing naturally occurring phytocannabinoids. Veritas Farms
owns and operates a 140-acre farm in Pueblo, Colorado, capable of
producing over 200,000 proprietary full spectrum hemp plants which
can potentially yield a minimum annual harvest of 250,000 to
300,000 pounds of outdoor-grown industrial hemp.
Veritas Farms reported a net loss of $5.14 million for the year
ended Dec. 31, 2022, compared to a net loss of $7.07 million for
the year ended Dec. 31, 2021. As of Dec. 31, 2022, the Company had
$6.79 million in total assets, $7.40 million in total liabilities,
and a total shareholders' deficit of $606,277.
Hackensack, NJ-based Prager Metis CPAs LLC, the Company's auditor
since 2018, issued a "going concern" qualification in its report
dated April 17, 2023, citing that the Company has sustained
substantial losses from operations since its inception. As of and
for the year ended Dec. 31, 2022, the Company had an accumulated
deficit of $39,474,622, and a net loss of $5,543,908. These
factors, among others, raise substantial doubt about the ability of
the Company to continue as a going concern within a year from the
date the financial statements are issued. Continuation as a going
concern is dependent on the ability to raise additional capital and
financing, though there is no assurance of success.
VETERANS MFG: Seeks to Hire Preeti Gupta as Legal Counsel
---------------------------------------------------------
Veterans Mfg. Inc. seeks approval from the U.S. Bankruptcy Court
for the Southern District of Indiana to employ Preeti (Nita) Gupta,
Esq. as counsel.
The firm's services include:
a. advising the Debtor on its Chapter 11 rights, powers and
duties as debtor-in-possession; and
b. preparing, on behalf of the Debtor, applications, answers,
proposed orders, reports, motions, and other pleadings and papers
that may be required in the Chapter 11 Case.
Ms. Gupta will be paid at the rate of $325 per hour. Ms. Gupta
received from the Debtor a retainer of $3,800.
Ms. Gupta 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:
Preeti (Nita) Gupta, Esq.
2680 East Main Street Suite 322
Plainfield, IN 46168
Tel: (317) 900-9737
Fax: (888) 261-6090
Email: nita07@att.net
About Veterans Mfg. Inc.
Veterans Mfg., Inc. filed a petition under Chapter 11, Subchapter V
of the Bankruptcy Code (Bankr. S.D. Ind. Case No. 23-04846) on Oct.
30, 2023, with $100,001 to $500,000 in both assets and
liabilities.
Judge Jeffrey J. Graham oversees the case.
Preeti Gupta, Esq., at Preeti (nita) Gupta, Attorney represents the
Debtor as bankruptcy counsel.
VIVAKOR INC: Incurs $2.5 Million Net Loss in Third Quarter
----------------------------------------------------------
Vivakor, Inc. filed with the Securities and Exchange Commission its
Quarterly Report on Form 10-Q disclosing a net loss attributable to
the Company of $2.52 million on $16.31 million of total revenues
for the three months ended Sept. 30, 2023, compared to a net loss
attributable to the Company of $1.58 million on $11.76 million of
total revenues for the three months ended Sept. 30, 2022.
For the nine months ended Sept. 30, 2023, the Company reported a
net loss attributable to the Company of $6.90 million on $45.45
million of total revenues, compared to a net loss attributable to
the Company of $7.09 million on $11.77 million of total revenues
for the same period during the prior year.
As of Sept. 30, 2023, the Company had $76.12 million in total
assets, $52.21 million in total liabilities, and $23.90 million in
total stockholders' equity.
Vivakor stated, "We have historically suffered net losses and
cumulative negative cash flows from operations, and as of September
30, 2023, we had an accumulated deficit of approximately $62.1
million. As of September 30, 2023 and December 31, 2022, we had a
working capital deficit of approximately $19 million and $3.7
million, respectively. Subsequent to September 30, 2023, $10
million of the working capital deficit was paid with an issuance of
common stock for a reduction in noted payable to a related party,
of which our CEO is a beneficiary...As of September 30, 2023, we
had cash of approximately $1.2 million, and we had obligations to
pay approximately $14.4 million (of which approximately $10 million
was satisfied through the issuance of our common stock under the
terms of the debt subsequent to September 30, 2023...) of debt in
cash within one year of the issuance of these financial statements.
Our CEO has also committed to provide credit support through
December 2024, as necessary, for an amount up to $8 million to
provide the Company sufficient cash resources, if required, to
execute its plans for the next twelve months. These conditions
raise substantial doubt about the Company's ability to continue as
a going concern. We believe the liquid assets and CEO commitment
give us adequate working capital to finance our day-to-day
operations for at least twelve months through November 2024."
A full-text copy of the Form 10-Q is available for free at:
https://www.sec.gov/ix?doc=/Archives/edgar/data/1450704/000182912623007602/vivakor_10q.htm
About Vivakor Inc.
Coralville, Iowa-based Vivakor, Inc. is an operator, acquirer and
developer of clean energy technologies and environmental solutions,
primarily focused on soil remediation. The Company specializes in
the remediation of soil and the extraction of hydrocarbons, such as
oil, from properties contaminated by or laden with heavy crude oil
and other hydrocarbon-based substances.
Vivakor reported a net loss attributable to the Company of $19.44
million in 2022, a net loss attributable to the company of $5.48
million in 2021, a net loss attributable to the company of $2.18
million in 2020.
VOYAGER TRAVEL: Court OKs Cash Collateral Access on Final Basis
---------------------------------------------------------------
The U.S. Bankruptcy Court for the Middle District of Florida, Tampa
Division, authorized Voyager Travel, Inc. to use cash collateral on
a final basis in accordance with the budget, retroactive to
September 14, 2023.
The U.S. Small Business Administration may claim that approximately
$992,914 is secured by a blanket lien against the Debtor's assets
by virtue of its UCC-1 financing statement which was filed on June
1, 2020. The Debtor reserves the right to challenge the validity,
priority and extent of the SBA's lien against the Debtor's assets.
The SBA's debt is secured by various personal property, cash,
intangibles, and accounts receivable owned by the Debtor.
The Debtor is permitted to use cash collateral to pay: (a) amounts
expressly authorized by this 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) additional amounts as may
be expressly approved in writing by the Secured Creditors.
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 copy of the order is available at https://urlcurt.com/u?l=2hDvCI
from PacerMonitor.com.
About Voyager Travel, Inc.
Voyager Travel, Inc. sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. M.D. Fla. Case No. 8:23-bk-04045) on
September 14, 2023. In the petition signed by Thomas E. Barnette,
director, at $500,000 in assets and $1million in liabilities.
Judge Roberta A. Colton oversees the case.
Buddy D. Ford, Esq., at Buddy D. Ford, P.A., represents the
Debtor's counsel.
WATER GREMLIN: Hires Dorsey & Whitney as Legal Counsel
------------------------------------------------------
Water Gremlin Company, and its affiliates seek approval from the
U.S. Bankruptcy Court for the District of Delaware to employ Dorsey
& Whitney LLP, and Dorsey & Whitney (Delaware) LLP, as counsel.
The firm's services include:
a. advising the Debtors with respect to their powers and duties
as debtors in possession in the continued management and operation
of their businesses and properties;
b. advising and consulting on the conduct of these Chapter 11
cases, including all of the legal and administrative requirements
of operating in an active Chapter 11;
c. attending meetings and negotiating with representatives of
creditors and other parties in interest;
d. taking all necessary actions to protect and preserve the
Debtors' estates, including prosecuting actions on the Debtors'
behalf, defending any action commenced against the Debtors, and
representing the Debtors in negotiations concerning litigation in
which the Debtors are involved, including objections to claims
filed against the Debtors' estates; e. preparing pleadings in
connection with these Chapter 11 cases, including motions,
applications, answers, orders, reports, and papers necessary or
otherwise beneficial to the administration of the Debtors'
estates;
e. representing the Debtors in connection with obtaining
postpetition financing and approval of postpetition financing;
f. advising the Debtors in connection with any potential sale of
assets;
g. appearing before the Court and any appellate courts to
represent the interests of the Debtors' estates;
h. advising the Debtors regarding tax, corporate, and regulatory
matters;
i. advising the Debtors with respect to litigation matters,
including without limitation, resolution of the Tort Claims;
j. taking any necessary action on behalf of the Debtors to
negotiate, prepare, and obtain approval of a disclosure statement
and confirmation of a Chapter 11 plan and all documents related
thereto; and
k. performing all other necessary legal services for the Debtors
in connection with the prosecution of these Chapter 11 cases,
including, without limitation: (i) interacting with the United
States Trustee's Office and any official committee appointed in the
Chapter 11 cases; (ii) obtaining approval for procedures to market
and sell the Debtors' assets and approval of a sale or multiple
sales of the Debtors' assets; and (iii) evaluating and prosecuting
the validity of claims.
The firm will be paid at these rates:
Partners $695 to $1,075 per hour
Of Counsel $626 to $735 per hour
Associates $450 to $545 per hour
Paraprofessionals $305 to $395 per hour
The Debtor paid the firm an advance payment retainer of $300,000.
The firm will also be reimbursed for reasonable out-of-pocket
expenses incurred.
Eric Lopez Schnabel, Esq., a partner at Dorsey & Whitney 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:
Eric Lopez Schnabel, Esq.
Dorsey & Whitney LLP
51 West 52nd Street
New York, NY 10019
Tel: (212) 415-9200
Fax: (212) 953-7201
Email: schnabel.eric@dorsey.com
About Water Gremlin Company
Water Gremlin Company is the world's technological and market
leader in battery terminals. It was founded in 1949 as a
manufacturer of recreational fishing products. In 1970, the company
expanded to battery terminal production. Water Gremlin uses custom
engineering, design, and automation to deliver consistent quality
solutions for industries like automotive, agriculture, commercial
trucking, marine, telecommunications, recreation, and military and
government operations.
Water Gremlin and its affiliates filed Chapter 11 petitions (Bankr.
D. Del. Lead Case No. 23-11775) on Oct. 27, 2023. At the time of
the filing, Water Gremlin reported $10 million to $50 million in
both assets and liabilities.
Judge Laurie Selber Silverstein oversees the cases.
The Debtors tapped Alessandra Glorioso, Esq., at Dorsey & Whitney
(Delaware) LLP as bankruptcy counsel; Intrepid Investment Bankers,
LLC as investment banker; Riveron RTS, LLC as financial advisor.
Kekst CNC and Padilla provide public relations services to the
Debtors.
The U.S. Trustee for Region 3 appointed an official committee to
represent unsecured creditors in the Debtors' Chapter 11 cases. The
committee is represented by Norman Pernick, Esq.
WEBPT INC: Goldman Sachs Marks $2.6M Loan at 85% Off
----------------------------------------------------
Goldman Sachs BDC, Inc has marked its $2,617,000 loan extended to
WebPT, Inc to market at $383,000 or 15% of the outstanding amount,
as of September 30, 2023, according to Goldman Sachs's Form 10-Q
for the Quarterly period ended, September 30, 2023, filed with the
Securities and Exchange Commission on November 7, 2023.
Goldman Sachs BDC is a participant in a First Lien Senior Secured
Debt to WebPT, Inc. The loan accrues interest at a rate of 12.30%
(S+ 6.75%) per annum. The loan matures on January 1, 2028.
Goldman Sachs BDC classified the loan on non-accrual status and as
a non-income producing security.
Goldman Sachs BDC was initially established as Goldman Sachs
Liberty Harbor Capital, LLC, a single member Delaware limited
liability company, on September 26, 2012 and commenced operations
on November 15, 2012 with The Goldman Sachs Group, Inc. as its sole
member. On March 29, 2013, the Company elected to be regulated as a
business development company under the Investment Company Act of
1940, as amended. Effective April 1, 2013, the Company converted
from a SMLLC to a Delaware corporation.
In addition, the Company has elected to be treated as a regulated
investment company under Subchapter M of the Internal Revenue Code
of 1986, as amended, commencing with its taxable year ended
December 31, 2013. Goldman Sachs Asset Management, L.P., a Delaware
limited partnership and an affiliate of Goldman Sachs & Co. LLC, is
the investment adviser of the Company.
WebPT, Inc. develops software for web-based physical therapy
electronic medical records and documentation. The Company provides
product gives physical therapists control over physical therapy
documentation, scheduling, and practice management tools. WebPT
serves customers in the United States.
WHITEWATER HOLDING: 93% Markdown for $270,000 GS MML Loan
---------------------------------------------------------
Goldman Sachs Middle Market Lending LLC II has marked its $270,000
loan extended to Whitewater Holding Company LLC to market at
$19,000 or 7% of the outstanding amount, as of September 30, 2023,
according to Goldman Sachs Middle Market Lending LLC II's Form 10-Q
for the Quarterly period ended, September 30, 2023, filed with the
Securities and Exchange Commission on November 7, 2023.
Goldman Sachs Middle Market Lending LLC II is a participant in a
First Lien Senior Secured Debt Loan Whitewater Holding Company LLC.
The loan accrues interest at a rate of 11.22% (S +5.75%) per annum.
The loan matures on December 21, 2027.
Goldman Sachs Middle Market Lending LLC II was formed on February
21, 2020. Effective November 23, 2021, MMLC LLC II converted from a
Delaware limited liability company to a Delaware corporation named
Goldman Sachs Middle Market Lending Corp. II, which term refers to
either Goldman Sachs Middle Market Lending Corp. II or Goldman
Sachs Middle Market Lending Corp. II together with its consolidated
subsidiary, as the context may require), which, by operation of
law, is deemed for purposes of Delaware law the same entity as MMLC
LLC II. The Company commenced operations on October 29, 2021. On
November 23, 2021, the Company's initial investors funded the
initial portion of their capital commitment to purchase shares of
common stock, at which time the Initial Member's initial capital
contribution to MMLC LLC II was cancelled. The Company has elected
to be regulated as a business development company under the
Investment Company Act.
WhiteWater Holding Company, LLC provides car washing services. The
Company offers tri-color polish, wheel cleaning, rainfall rinse,
rain repellant glass wax, tire shine, and flash dry services.
WhiteWater Holding serves customers in the United States.
WHITEWATER HOLDING: GS MML Marks $6.1MM Loan at 30% Off
-------------------------------------------------------
Goldman Sachs Middle Market Lending LLC II has marked its
$6,186,000 loan extended to Merchant Whitewater Holding Company LLC
to market at $4,326,000 or 70% of the outstanding amount, as of
September 30, 2023, according to Goldman Sachs Middle Market
Lending LLC II's Form 10-Q for the Quarterly period ended,
September 30, 2023, filed with the Securities and Exchange
Commission on November 7, 2023.
Goldman Sachs Middle Market Lending LLC II is a participant in a
First Lien Senior Secured Debt Loan Whitewater Holding Company LLC.
The loan accrues interest at a rate of 11.54% (S +6.00%) per annum.
The loan matures on December 21, 2027.
Goldman Sachs Middle Market Lending LLC II was formed on February
21, 2020. Effective November 23, 2021, MMLC LLC II converted from a
Delaware limited liability company to a Delaware corporation named
Goldman Sachs Middle Market Lending Corp. II, which term refers to
either Goldman Sachs Middle Market Lending Corp. II or Goldman
Sachs Middle Market Lending Corp. II together with its consolidated
subsidiary, as the context may require), which, by operation of
law, is deemed for purposes of Delaware law the same entity as MMLC
LLC II. The Company commenced operations on October 29, 2021. On
November 23, 2021, the Company's initial investors funded the
initial portion of their capital commitment to purchase shares of
common stock, at which time the Initial Member's initial capital
contribution to MMLC LLC II was cancelled. The Company has elected
to be regulated as a business development company under the
Investment Company Act.
WhiteWater Holding Company, LLC provides car washing services. The
Company offers tri-color polish, wheel cleaning, rainfall rinse,
rain repellant glass wax, tire shine, and flash dry services.
WhiteWater Holding serves customers in the United States.
WWEX UNI TOPCO: $150MM Bank Debt Trades at 17% Discount
-------------------------------------------------------
Participations in a syndicated loan under which WWEX Uni Topco
Holdings LLC is a borrower were trading in the secondary market
around 83.0 cents-on-the-dollar during the week ended Friday,
November 24, 2023, according to Bloomberg's Evaluated Pricing
service data.
The $150 million facility is a Term loan that is scheduled to
mature on July 26, 2029. The amount is fully drawn and
outstanding.
WWEX UNI Topco Holdings, LLC is headquartered in Dallas, Texas, and
is a non-asset based third party logistics services provider to a
wide array of end-markets and customers. The company is owned by
private equity sponsors, CVC Capital Partners, Providence Equity
Partners, PSG, Ridgemont Equity Partners and management.
[] Sunset Park Condominium Up for Nov. 30 Auction
-------------------------------------------------
Jeffrey Saltiel, Esq., referee, Wenig, Saltiel LLP, will sell at
public auction on Nov. 30, 2023, at 2:30 p.m. (Eastern Time) in
Room 224 of the Kings County Supreme Courthouse, located at 360
Adams Street, Brooklyn, New York, the real property located at 702
44th Street, Brooklyn, New York ("Premises"), being the building
know as One Sunset Park Condominium and describes as: Block 741,
Lots 1001 - 1054 on the tax map of the Borough of Brooklyn, and
more particularly described as: All that certain plot, piece or
parcel of land, lying and being in the borough of Brooklyn, County
of Kings and City and State of New York, and being more
particularly bounded and describe as beginning at the corner formed
by the intersection of the easterly side of 7th Avenue and the
southerly side of 44th Street; Running Thence Easterly along the
southerly side of 44th Street, 120 Feet; Thence southerly parallel
with 7th Avenue, 100 Feet 2 Inches; Thence westerly parallel with
44th Street, 120 Feet to the easterly side of 7th Avenue; Thence
northly along the easterly side of 7th Avenue, 100 Feet 2 inches to
the corner, the point or place of beginning.
The premises are being sold at public auction after an April 3,
2019 fire partially destroyed the premises. The premises to be
sold has a reserve price of not less than $9,950,000.
Each bidder must satisfy the referee that said bidder is qualified
by presenting a certified or bank check in the amount of $250,000
made payable to Jeffrey Saltiel, Esql, Referee, that it can be
tender as a deposit to the Refer3e by 5:00 p.m. (ET) the day before
the auction with an auction bidder registration form.
In order to properly qualify as a bidder, a bidder must submit a
signed auction bidder registration form and deposit to the Referee
in person at Wenig, Saltiel LLP, 321 Broadway, Second Floor, New
York, New York 10007, by 5:00 p.m. ET on Nov. 29, 2023, along with
other items, as detailed on the bidder registration form. Referee
reserves the right to reject or refuse any materials received after
5:00 p.m. (ET) on Nov. 29, 2023.
At the immediate conclusion of the auction sale, the successful
bidder will be required to (i) tender a deposit equaling at least
10% of the successful bid, taking into account the $250,000
deposit, in the form of certified or bank check made payable to
Jeffrey Saltiel, Esq., Referee, and (ii) agree to be bound by the
terms of the amended interlocutory judgment and terms of sale
including but not limited to the terms specifying the successful
bidder's liability for damages in the event of default.
To receive the instruction to tour the premises and to receive the
auction bidder registration form and amended interlocutory
judgment, interested bidders must contact Janice Goldberg, Esq.,
Attorney for One Sunset Park Condominium, via email at
jgoldberg@herrick.com or phone at +1 (212) 592-6192.
[^] Large Companies with Insolvent Balance Sheet
------------------------------------------------
Total
Share Total
Total Holders' Working
Assets Equity Capital
Company Ticker ($MM) ($MM) ($MM)
------- ------ ------ -------- -------
ACCELERATE DIAGN AXDX* MM 39.3 (35.0) (5.3)
AEMETIS INC AMTX US 277.4 (200.0) (35.9)
AEMETIS INC DW51 GR 277.4 (200.0) (35.9)
AEMETIS INC AMTXGEUR EZ 277.4 (200.0) (35.9)
AEMETIS INC AMTXGEUR EU 277.4 (200.0) (35.9)
AEMETIS INC DW51 GZ 277.4 (200.0) (35.9)
AEMETIS INC DW51 TH 277.4 (200.0) (35.9)
AEMETIS INC DW51 QT 277.4 (200.0) (35.9)
ALNYLAM PHAR-BDR A1LN34 BZ 3,839.1 (165.9) 2,035.7
ALNYLAM PHARMACE ALNY US 3,839.1 (165.9) 2,035.7
ALNYLAM PHARMACE DUL GR 3,839.1 (165.9) 2,035.7
ALNYLAM PHARMACE DUL QT 3,839.1 (165.9) 2,035.7
ALNYLAM PHARMACE ALNYEUR EU 3,839.1 (165.9) 2,035.7
ALNYLAM PHARMACE DUL TH 3,839.1 (165.9) 2,035.7
ALNYLAM PHARMACE DUL SW 3,839.1 (165.9) 2,035.7
ALNYLAM PHARMACE DUL GZ 3,839.1 (165.9) 2,035.7
ALNYLAM PHARMACE ALNYEUR EZ 3,839.1 (165.9) 2,035.7
ALPHATEC HOLDING L1Z1 GR 670.2 (20.6) 185.5
ALPHATEC HOLDING ATEC US 670.2 (20.6) 185.5
ALPHATEC HOLDING ATECEUR EU 670.2 (20.6) 185.5
ALPHATEC HOLDING L1Z1 GZ 670.2 (20.6) 185.5
ALTICE USA INC-A ATUS* MM 32,208.5 (321.3) (2,327.3)
ALTICE USA INC-A ATUS-RM RM 32,208.5 (321.3) (2,327.3)
ALTIRA GP-CEDEAR MOC AR 36,469.0 (3,357.0) (6,991.0)
ALTIRA GP-CEDEAR MOD AR 36,469.0 (3,357.0) (6,991.0)
ALTIRA GP-CEDEAR MO AR 36,469.0 (3,357.0) (6,991.0)
ALTRIA GROUP INC PHM7 GR 36,469.0 (3,357.0) (6,991.0)
ALTRIA GROUP INC MO* MM 36,469.0 (3,357.0) (6,991.0)
ALTRIA GROUP INC MO US 36,469.0 (3,357.0) (6,991.0)
ALTRIA GROUP INC MO SW 36,469.0 (3,357.0) (6,991.0)
ALTRIA GROUP INC MOEUR EU 36,469.0 (3,357.0) (6,991.0)
ALTRIA GROUP INC 4MO TE 36,469.0 (3,357.0) (6,991.0)
ALTRIA GROUP INC PHM7 TH 36,469.0 (3,357.0) (6,991.0)
ALTRIA GROUP INC MO CI 36,469.0 (3,357.0) (6,991.0)
ALTRIA GROUP INC PHM7 QT 36,469.0 (3,357.0) (6,991.0)
ALTRIA GROUP INC MOUSD SW 36,469.0 (3,357.0) (6,991.0)
ALTRIA GROUP INC PHM7 GZ 36,469.0 (3,357.0) (6,991.0)
ALTRIA GROUP INC 0R31 LI 36,469.0 (3,357.0) (6,991.0)
ALTRIA GROUP INC ALTR AV 36,469.0 (3,357.0) (6,991.0)
ALTRIA GROUP INC MOEUR EZ 36,469.0 (3,357.0) (6,991.0)
ALTRIA GROUP INC MO-RM RM 36,469.0 (3,357.0) (6,991.0)
ALTRIA GROUP INC PHM7 BU 36,469.0 (3,357.0) (6,991.0)
ALTRIA GROUP INC PHM7D EB 36,469.0 (3,357.0) (6,991.0)
ALTRIA GROUP INC PHM7D IX 36,469.0 (3,357.0) (6,991.0)
ALTRIA GROUP INC PHM7D I2 36,469.0 (3,357.0) (6,991.0)
ALTRIA GROUP-BDR MOOO34 BZ 36,469.0 (3,357.0) (6,991.0)
AMC ENTERTAINMEN AMC US 8,793.1 (2,138.0) (548.7)
AMC ENTERTAINMEN AH91 GR 8,793.1 (2,138.0) (548.7)
AMC ENTERTAINMEN AMC4EUR EU 8,793.1 (2,138.0) (548.7)
AMC ENTERTAINMEN AH91 TH 8,793.1 (2,138.0) (548.7)
AMC ENTERTAINMEN AH91 QT 8,793.1 (2,138.0) (548.7)
AMC ENTERTAINMEN AMC* MM 8,793.1 (2,138.0) (548.7)
AMC ENTERTAINMEN AH91 GZ 8,793.1 (2,138.0) (548.7)
AMC ENTERTAINMEN AH91 SW 8,793.1 (2,138.0) (548.7)
AMC ENTERTAINMEN AMC-RM RM 8,793.1 (2,138.0) (548.7)
AMC ENTERTAINMEN AH9 BU 8,793.1 (2,138.0) (548.7)
AMC ENTERTAINMEN AMCE AV 8,793.1 (2,138.0) (548.7)
AMERICAN AIR-BDR AALL34 BZ 65,711.0 (5,136.0) (7,672.0)
AMERICAN AIRLINE AAL US 65,711.0 (5,136.0) (7,672.0)
AMERICAN AIRLINE A1G GR 65,711.0 (5,136.0) (7,672.0)
AMERICAN AIRLINE AAL* MM 65,711.0 (5,136.0) (7,672.0)
AMERICAN AIRLINE A1G TH 65,711.0 (5,136.0) (7,672.0)
AMERICAN AIRLINE A1G QT 65,711.0 (5,136.0) (7,672.0)
AMERICAN AIRLINE A1G GZ 65,711.0 (5,136.0) (7,672.0)
AMERICAN AIRLINE AAL11EUR EU 65,711.0 (5,136.0) (7,672.0)
AMERICAN AIRLINE AAL AV 65,711.0 (5,136.0) (7,672.0)
AMERICAN AIRLINE 4AAL TE 65,711.0 (5,136.0) (7,672.0)
AMERICAN AIRLINE A1G SW 65,711.0 (5,136.0) (7,672.0)
AMERICAN AIRLINE 0HE6 LI 65,711.0 (5,136.0) (7,672.0)
AMERICAN AIRLINE AAL11EUR EZ 65,711.0 (5,136.0) (7,672.0)
AMERICAN AIRLINE AAL-RM RM 65,711.0 (5,136.0) (7,672.0)
AMERICAN AIRLINE AAL_KZ KZ 65,711.0 (5,136.0) (7,672.0)
AON PLC-BDR A1ON34 BZ 33,112.0 (486.0) 403.0
AON PLC-CLASS A AON US 33,112.0 (486.0) 403.0
AON PLC-CLASS A 4VK GR 33,112.0 (486.0) 403.0
AON PLC-CLASS A 4VK QT 33,112.0 (486.0) 403.0
AON PLC-CLASS A 4VK TH 33,112.0 (486.0) 403.0
AON PLC-CLASS A AON1EUR EZ 33,112.0 (486.0) 403.0
AON PLC-CLASS A AON1EUR EU 33,112.0 (486.0) 403.0
AON PLC-CLASS A AONN MM 33,112.0 (486.0) 403.0
AON PLC-CLASS A 4VK GZ 33,112.0 (486.0) 403.0
AULT DISRUPTIVE ADRT/U US 2.5 (3.0) (1.8)
AUTOZONE INC AZO US 15,985.9 (4,349.9) (1,732.4)
AUTOZONE INC AZ5 TH 15,985.9 (4,349.9) (1,732.4)
AUTOZONE INC AZ5 GR 15,985.9 (4,349.9) (1,732.4)
AUTOZONE INC AZOEUR EU 15,985.9 (4,349.9) (1,732.4)
AUTOZONE INC AZ5 QT 15,985.9 (4,349.9) (1,732.4)
AUTOZONE INC AZO AV 15,985.9 (4,349.9) (1,732.4)
AUTOZONE INC 4AZO TE 15,985.9 (4,349.9) (1,732.4)
AUTOZONE INC AZO* MM 15,985.9 (4,349.9) (1,732.4)
AUTOZONE INC AZOEUR EZ 15,985.9 (4,349.9) (1,732.4)
AUTOZONE INC AZ5 GZ 15,985.9 (4,349.9) (1,732.4)
AUTOZONE INC AZO-RM RM 15,985.9 (4,349.9) (1,732.4)
AUTOZONE INC-BDR AZOI34 BZ 15,985.9 (4,349.9) (1,732.4)
AVIS BUD-CEDEAR CAR AR 32,304.0 (28.0) (537.0)
AVIS BUDGET GROU CUCA GR 32,304.0 (28.0) (537.0)
AVIS BUDGET GROU CAR US 32,304.0 (28.0) (537.0)
AVIS BUDGET GROU CUCA QT 32,304.0 (28.0) (537.0)
AVIS BUDGET GROU CAR2EUR EU 32,304.0 (28.0) (537.0)
AVIS BUDGET GROU CAR* MM 32,304.0 (28.0) (537.0)
AVIS BUDGET GROU CAR2EUR EZ 32,304.0 (28.0) (537.0)
AVIS BUDGET GROU CUCA TH 32,304.0 (28.0) (537.0)
AVIS BUDGET GROU CUCA GZ 32,304.0 (28.0) (537.0)
BATH & BODY WORK LTD0 GR 5,243.0 (2,124.0) 550.0
BATH & BODY WORK LTD0 TH 5,243.0 (2,124.0) 550.0
BATH & BODY WORK BBWI US 5,243.0 (2,124.0) 550.0
BATH & BODY WORK LBEUR EU 5,243.0 (2,124.0) 550.0
BATH & BODY WORK BBWI* MM 5,243.0 (2,124.0) 550.0
BATH & BODY WORK LTD0 QT 5,243.0 (2,124.0) 550.0
BATH & BODY WORK BBWI AV 5,243.0 (2,124.0) 550.0
BATH & BODY WORK LBEUR EZ 5,243.0 (2,124.0) 550.0
BATH & BODY WORK LTD0 GZ 5,243.0 (2,124.0) 550.0
BATH & BODY WORK BBWI-RM RM 5,243.0 (2,124.0) 550.0
BAUSCH HEALTH CO BVF GR 27,064.0 (235.0) 824.0
BAUSCH HEALTH CO BHC US 27,064.0 (235.0) 824.0
BAUSCH HEALTH CO BHC CN 27,064.0 (235.0) 824.0
BAUSCH HEALTH CO BVF TH 27,064.0 (235.0) 824.0
BAUSCH HEALTH CO VRX SW 27,064.0 (235.0) 824.0
BAUSCH HEALTH CO BHCN MM 27,064.0 (235.0) 824.0
BAUSCH HEALTH CO VRX1EUR EU 27,064.0 (235.0) 824.0
BAUSCH HEALTH CO BVF QT 27,064.0 (235.0) 824.0
BAUSCH HEALTH CO BVF GZ 27,064.0 (235.0) 824.0
BAUSCH HEALTH CO VRX1EUR EZ 27,064.0 (235.0) 824.0
BELLRING BRANDS BRBR US 691.6 (323.5) 274.0
BELLRING BRANDS D51 TH 691.6 (323.5) 274.0
BELLRING BRANDS BRBR2EUR EU 691.6 (323.5) 274.0
BELLRING BRANDS D51 GR 691.6 (323.5) 274.0
BELLRING BRANDS D51 QT 691.6 (323.5) 274.0
BEYOND MEAT INC BYND US 929.2 (362.9) 392.8
BEYOND MEAT INC 0Q3 GR 929.2 (362.9) 392.8
BEYOND MEAT INC 0Q3 GZ 929.2 (362.9) 392.8
BEYOND MEAT INC BYNDEUR EU 929.2 (362.9) 392.8
BEYOND MEAT INC 0Q3 TH 929.2 (362.9) 392.8
BEYOND MEAT INC 0Q3 QT 929.2 (362.9) 392.8
BEYOND MEAT INC BYND AV 929.2 (362.9) 392.8
BEYOND MEAT INC 0Q3 SW 929.2 (362.9) 392.8
BEYOND MEAT INC 0A20 LI 929.2 (362.9) 392.8
BEYOND MEAT INC BYNDEUR EZ 929.2 (362.9) 392.8
BEYOND MEAT INC 4BYND TE 929.2 (362.9) 392.8
BEYOND MEAT INC BYND* MM 929.2 (362.9) 392.8
BEYOND MEAT INC BYND-RM RM 929.2 (362.9) 392.8
BIOCRYST PHARM BO1 TH 522.9 (411.0) 411.7
BIOCRYST PHARM BCRX US 522.9 (411.0) 411.7
BIOCRYST PHARM BO1 GR 522.9 (411.0) 411.7
BIOCRYST PHARM BO1 QT 522.9 (411.0) 411.7
BIOCRYST PHARM BCRXEUR EU 522.9 (411.0) 411.7
BIOCRYST PHARM BCRX* MM 522.9 (411.0) 411.7
BIOCRYST PHARM BCRXEUR EZ 522.9 (411.0) 411.7
BIOTE CORP-A BTMD US 149.7 (51.3) 92.7
BOEING CO-BDR BOEI34 BZ 134,281 (16,717.0) 13,873.0
BOEING CO-CED BA AR 134,281 (16,717.0) 13,873.0
BOEING CO-CED BAD AR 134,281 (16,717.0) 13,873.0
BOEING CO/THE BCO GR 134,281 (16,717.0) 13,873.0
BOEING CO/THE BAEUR EU 134,281 (16,717.0) 13,873.0
BOEING CO/THE 4BA TE 134,281 (16,717.0) 13,873.0
BOEING CO/THE BA* MM 134,281 (16,717.0) 13,873.0
BOEING CO/THE BA SW 134,281 (16,717.0) 13,873.0
BOEING CO/THE BA US 134,281 (16,717.0) 13,873.0
BOEING CO/THE BCO TH 134,281 (16,717.0) 13,873.0
BOEING CO/THE BA PE 134,281 (16,717.0) 13,873.0
BOEING CO/THE BA CI 134,281 (16,717.0) 13,873.0
BOEING CO/THE BCO QT 134,281 (16,717.0) 13,873.0
BOEING CO/THE BAUSD SW 134,281 (16,717.0) 13,873.0
BOEING CO/THE BCO GZ 134,281 (16,717.0) 13,873.0
BOEING CO/THE BA AV 134,281 (16,717.0) 13,873.0
BOEING CO/THE BA-RM RM 134,281 (16,717.0) 13,873.0
BOEING CO/THE BAEUR EZ 134,281 (16,717.0) 13,873.0
BOEING CO/THE BACL CI 134,281 (16,717.0) 13,873.0
BOEING CO/THE BA_KZ KZ 134,281 (16,717.0) 13,873.0
BOEING CO/THE BCOD EB 134,281 (16,717.0) 13,873.0
BOEING CO/THE BCOD IX 134,281 (16,717.0) 13,873.0
BOEING CO/THE BCOD I2 134,281 (16,717.0) 13,873.0
BOMBARDIER INC-A BBD/A CN 12,524.0 (2,470.0) (1.0)
BOMBARDIER INC-A BDRAF US 12,524.0 (2,470.0) (1.0)
BOMBARDIER INC-A BBD GR 12,524.0 (2,470.0) (1.0)
BOMBARDIER INC-A BBD/AEUR EU 12,524.0 (2,470.0) (1.0)
BOMBARDIER INC-A BBD GZ 12,524.0 (2,470.0) (1.0)
BOMBARDIER INC-B BBD/B CN 12,524.0 (2,470.0) (1.0)
BOMBARDIER INC-B BBDC GR 12,524.0 (2,470.0) (1.0)
BOMBARDIER INC-B BDRBF US 12,524.0 (2,470.0) (1.0)
BOMBARDIER INC-B BBDC TH 12,524.0 (2,470.0) (1.0)
BOMBARDIER INC-B BBDBN MM 12,524.0 (2,470.0) (1.0)
BOMBARDIER INC-B BBD/BEUR EU 12,524.0 (2,470.0) (1.0)
BOMBARDIER INC-B BBDC GZ 12,524.0 (2,470.0) (1.0)
BOMBARDIER INC-B BBD/BEUR EZ 12,524.0 (2,470.0) (1.0)
BOMBARDIER INC-B BBDC QT 12,524.0 (2,470.0) (1.0)
BOOKING HLDG-BDR BKNG34 BZ 25,635.0 (625.0) 5,647.0
BOOKING HOLDINGS PCE1 GR 25,635.0 (625.0) 5,647.0
BOOKING HOLDINGS BKNG US 25,635.0 (625.0) 5,647.0
BOOKING HOLDINGS BKNG* MM 25,635.0 (625.0) 5,647.0
BOOKING HOLDINGS PCE1 TH 25,635.0 (625.0) 5,647.0
BOOKING HOLDINGS BKNG CI 25,635.0 (625.0) 5,647.0
BOOKING HOLDINGS BKNG SW 25,635.0 (625.0) 5,647.0
BOOKING HOLDINGS PCE1 QT 25,635.0 (625.0) 5,647.0
BOOKING HOLDINGS BKNGUSD SW 25,635.0 (625.0) 5,647.0
BOOKING HOLDINGS PCLNEUR EU 25,635.0 (625.0) 5,647.0
BOOKING HOLDINGS PCE1 GZ 25,635.0 (625.0) 5,647.0
BOOKING HOLDINGS BOOK AV 25,635.0 (625.0) 5,647.0
BOOKING HOLDINGS 4BKNG TE 25,635.0 (625.0) 5,647.0
BOOKING HOLDINGS PCLNEUR EZ 25,635.0 (625.0) 5,647.0
BOOKING HOLDINGS BKNGCL CI 25,635.0 (625.0) 5,647.0
BOOKING HOLDINGS BKNG-RM RM 25,635.0 (625.0) 5,647.0
BOSTON PIZZA R-U BPZZF US 146.6 (241.3) 2.7
BOSTON PIZZA R-U BPF-U CN 146.6 (241.3) 2.7
BOX INC- CLASS A BOX US 1,068.1 (45.9) 99.4
BOX INC- CLASS A 3BX GR 1,068.1 (45.9) 99.4
BOX INC- CLASS A 3BX TH 1,068.1 (45.9) 99.4
BOX INC- CLASS A 3BX QT 1,068.1 (45.9) 99.4
BOX INC- CLASS A BOXEUR EU 1,068.1 (45.9) 99.4
BOX INC- CLASS A 3BX GZ 1,068.1 (45.9) 99.4
BOX INC- CLASS A BOX-RM RM 1,068.1 (45.9) 99.4
BRIDGEBIO PHARMA BBIO US 655.0 (1,193.7) 481.6
BRIDGEBIO PHARMA 2CL GR 655.0 (1,193.7) 481.6
BRIDGEBIO PHARMA 2CL GZ 655.0 (1,193.7) 481.6
BRIDGEBIO PHARMA BBIOEUR EU 655.0 (1,193.7) 481.6
BRIDGEBIO PHARMA 2CL TH 655.0 (1,193.7) 481.6
BRINKER INTL EAT US 2,474.8 (156.3) (364.5)
BRINKER INTL BKJ GR 2,474.8 (156.3) (364.5)
BRINKER INTL BKJ QT 2,474.8 (156.3) (364.5)
BRINKER INTL EAT2EUR EU 2,474.8 (156.3) (364.5)
BRINKER INTL EAT2EUR EZ 2,474.8 (156.3) (364.5)
BRINKER INTL BKJ TH 2,474.8 (156.3) (364.5)
BROOKFIELD INF-A BIPC CN 10,973.0 (764.0) (3,410.0)
BROOKFIELD INF-A BIPC US 10,973.0 (764.0) (3,410.0)
CALUMET SPECIALT CLMT US 2,804.8 (197.6) (456.8)
CARDINAL HEA BDR C1AH34 BZ 43,710.0 (3,490.0) (377.0)
CARDINAL HEALTH CAH US 43,710.0 (3,490.0) (377.0)
CARDINAL HEALTH CLH GR 43,710.0 (3,490.0) (377.0)
CARDINAL HEALTH CLH TH 43,710.0 (3,490.0) (377.0)
CARDINAL HEALTH CLH QT 43,710.0 (3,490.0) (377.0)
CARDINAL HEALTH CAHEUR EU 43,710.0 (3,490.0) (377.0)
CARDINAL HEALTH CLH GZ 43,710.0 (3,490.0) (377.0)
CARDINAL HEALTH CAH* MM 43,710.0 (3,490.0) (377.0)
CARDINAL HEALTH CAHEUR EZ 43,710.0 (3,490.0) (377.0)
CARDINAL HEALTH CAH-RM RM 43,710.0 (3,490.0) (377.0)
CARDINAL-CEDEAR CAH AR 43,710.0 (3,490.0) (377.0)
CARDINAL-CEDEAR CAHC AR 43,710.0 (3,490.0) (377.0)
CARDINAL-CEDEAR CAHD AR 43,710.0 (3,490.0) (377.0)
CARGO THERAPEUTI CRGX US - - -
CARVANA CO CVNA US 7,025.0 (202.0) 1,791.0
CARVANA CO CV0 TH 7,025.0 (202.0) 1,791.0
CARVANA CO CV0 QT 7,025.0 (202.0) 1,791.0
CARVANA CO CVNAEUR EU 7,025.0 (202.0) 1,791.0
CARVANA CO CV0 GR 7,025.0 (202.0) 1,791.0
CARVANA CO CV0 GZ 7,025.0 (202.0) 1,791.0
CARVANA CO CVNAEUR EZ 7,025.0 (202.0) 1,791.0
CARVANA CO CVNA* MM 7,025.0 (202.0) 1,791.0
CARVANA CO CVNA-RM RM 7,025.0 (202.0) 1,791.0
CEDAR FAIR LP FUN US 2,318.6 (565.8) (141.1)
CENTRUS ENERGY-A LEU US 644.7 (24.0) 194.6
CENTRUS ENERGY-A 4CU TH 644.7 (24.0) 194.6
CENTRUS ENERGY-A 4CU GR 644.7 (24.0) 194.6
CENTRUS ENERGY-A LEUEUR EU 644.7 (24.0) 194.6
CENTRUS ENERGY-A 4CU GZ 644.7 (24.0) 194.6
CENTRUS ENERGY-A 4CU QT 644.7 (24.0) 194.6
CHENIERE ENERGY CQP US 18,072.0 (973.0) (195.0)
CINEPLEX INC CGX CN 2,225.6 (30.2) (252.1)
CINEPLEX INC CX0 GR 2,225.6 (30.2) (252.1)
CINEPLEX INC CPXGF US 2,225.6 (30.2) (252.1)
CINEPLEX INC CX0 TH 2,225.6 (30.2) (252.1)
CINEPLEX INC CGXEUR EU 2,225.6 (30.2) (252.1)
CINEPLEX INC CGXN MM 2,225.6 (30.2) (252.1)
CINEPLEX INC CX0 GZ 2,225.6 (30.2) (252.1)
COHERUS BIOSCIEN CHRSEUR EZ 583.8 (133.6) 204.7
COMPOSECURE INC CMPO US 195.0 (238.8) 75.4
CONSENSUS CLOUD CCSI US 706.5 (199.3) 107.5
COOPER-STANDARD CPS US 2,029.0 (57.4) 258.8
COOPER-STANDARD C31 GR 2,029.0 (57.4) 258.8
COOPER-STANDARD CPSEUR EU 2,029.0 (57.4) 258.8
COOPER-STANDARD C31 GZ 2,029.0 (57.4) 258.8
COOPER-STANDARD C31 TH 2,029.0 (57.4) 258.8
CPI CARD GROUP I PMTS US 292.1 (56.7) 115.2
CPI CARD GROUP I CPB1 GR 292.1 (56.7) 115.2
CPI CARD GROUP I PMTSEUR EU 292.1 (56.7) 115.2
CYTOKINETICS INC CYTK US 740.6 (438.8) 483.7
CYTOKINETICS INC KK3A GR 740.6 (438.8) 483.7
CYTOKINETICS INC KK3A QT 740.6 (438.8) 483.7
CYTOKINETICS INC CYTKEUR EU 740.6 (438.8) 483.7
CYTOKINETICS INC KK3A TH 740.6 (438.8) 483.7
CYTOKINETICS INC KK3A SW 740.6 (438.8) 483.7
CYTOKINETICS INC CYTKEUR EZ 740.6 (438.8) 483.7
DELEK LOGISTICS DKL US 1,709.5 (139.2) 32.3
DELL TECHN-C DELL US 85,658.0 (2,677.0) (11,943.0)
DELL TECHN-C 12DA TH 85,658.0 (2,677.0) (11,943.0)
DELL TECHN-C 12DA GR 85,658.0 (2,677.0) (11,943.0)
DELL TECHN-C 12DA GZ 85,658.0 (2,677.0) (11,943.0)
DELL TECHN-C DELL1EUR EU 85,658.0 (2,677.0) (11,943.0)
DELL TECHN-C DELLC* MM 85,658.0 (2,677.0) (11,943.0)
DELL TECHN-C 12DA QT 85,658.0 (2,677.0) (11,943.0)
DELL TECHN-C DELL AV 85,658.0 (2,677.0) (11,943.0)
DELL TECHN-C DELL1EUR EZ 85,658.0 (2,677.0) (11,943.0)
DELL TECHN-C DELL-RM RM 85,658.0 (2,677.0) (11,943.0)
DELL TECHN-C-BDR D1EL34 BZ 85,658.0 (2,677.0) (11,943.0)
DENNY'S CORP DE8 GR 479.8 (35.8) (56.0)
DENNY'S CORP DENN US 479.8 (35.8) (56.0)
DENNY'S CORP DENNEUR EU 479.8 (35.8) (56.0)
DENNY'S CORP DE8 TH 479.8 (35.8) (56.0)
DENNY'S CORP DE8 GZ 479.8 (35.8) (56.0)
DIGITALOCEAN HOL DOCN US 1,425.1 (358.8) 287.2
DIGITALOCEAN HOL 0SU GR 1,425.1 (358.8) 287.2
DIGITALOCEAN HOL 0SU TH 1,425.1 (358.8) 287.2
DIGITALOCEAN HOL DOCNEUR EU 1,425.1 (358.8) 287.2
DIGITALOCEAN HOL 0SU GZ 1,425.1 (358.8) 287.2
DIGITALOCEAN HOL 0SU QT 1,425.1 (358.8) 287.2
DINE BRANDS GLOB DIN US 1,659.6 (273.7) (120.5)
DINE BRANDS GLOB IHP GR 1,659.6 (273.7) (120.5)
DINE BRANDS GLOB IHP TH 1,659.6 (273.7) (120.5)
DINE BRANDS GLOB IHP GZ 1,659.6 (273.7) (120.5)
DOMINO'S P - BDR D2PZ34 BZ 1,619.5 (4,141.5) 232.7
DOMINO'S PIZZA EZV TH 1,619.5 (4,141.5) 232.7
DOMINO'S PIZZA EZV GR 1,619.5 (4,141.5) 232.7
DOMINO'S PIZZA DPZ US 1,619.5 (4,141.5) 232.7
DOMINO'S PIZZA EZV QT 1,619.5 (4,141.5) 232.7
DOMINO'S PIZZA DPZEUR EU 1,619.5 (4,141.5) 232.7
DOMINO'S PIZZA DPZ AV 1,619.5 (4,141.5) 232.7
DOMINO'S PIZZA DPZ* MM 1,619.5 (4,141.5) 232.7
DOMINO'S PIZZA EZV GZ 1,619.5 (4,141.5) 232.7
DOMINO'S PIZZA DPZEUR EZ 1,619.5 (4,141.5) 232.7
DOMINO'S PIZZA DPZ-RM RM 1,619.5 (4,141.5) 232.7
DOMO INC- CL B DOMO US 212.1 (151.8) (84.3)
DOMO INC- CL B 1ON GR 212.1 (151.8) (84.3)
DOMO INC- CL B 1ON GZ 212.1 (151.8) (84.3)
DOMO INC- CL B DOMOEUR EU 212.1 (151.8) (84.3)
DOMO INC- CL B 1ON TH 212.1 (151.8) (84.3)
DOMO INC- CL B 1ON QT 212.1 (151.8) (84.3)
DROPBOX INC-A DBX US 3,010.6 (350.3) 270.3
DROPBOX INC-A 1Q5 GR 3,010.6 (350.3) 270.3
DROPBOX INC-A 1Q5 SW 3,010.6 (350.3) 270.3
DROPBOX INC-A 1Q5 TH 3,010.6 (350.3) 270.3
DROPBOX INC-A 1Q5 QT 3,010.6 (350.3) 270.3
DROPBOX INC-A DBXEUR EU 3,010.6 (350.3) 270.3
DROPBOX INC-A DBX AV 3,010.6 (350.3) 270.3
DROPBOX INC-A DBX* MM 3,010.6 (350.3) 270.3
DROPBOX INC-A DBXEUR EZ 3,010.6 (350.3) 270.3
DROPBOX INC-A 1Q5 GZ 3,010.6 (350.3) 270.3
DROPBOX INC-A DBX-RM RM 3,010.6 (350.3) 270.3
EMBECTA CORP EMBC US 1,214.4 (821.7) 395.6
EMBECTA CORP EMBC* MM 1,214.4 (821.7) 395.6
EMBECTA CORP JX7 GR 1,214.4 (821.7) 395.6
EMBECTA CORP JX7 QT 1,214.4 (821.7) 395.6
EMBECTA CORP EMBC1EUR EZ 1,214.4 (821.7) 395.6
EMBECTA CORP EMBC1EUR EU 1,214.4 (821.7) 395.6
EMBECTA CORP JX7 GZ 1,214.4 (821.7) 395.6
EMBECTA CORP JX7 TH 1,214.4 (821.7) 395.6
ENGENE HOLDINGS ENGN US 0.0 (0.1) (0.1)
ETSY INC ETSY US 2,449.2 (622.5) 795.0
ETSY INC 3E2 GR 2,449.2 (622.5) 795.0
ETSY INC 3E2 TH 2,449.2 (622.5) 795.0
ETSY INC 3E2 QT 2,449.2 (622.5) 795.0
ETSY INC 2E2 GZ 2,449.2 (622.5) 795.0
ETSY INC 300 SW 2,449.2 (622.5) 795.0
ETSY INC ETSY AV 2,449.2 (622.5) 795.0
ETSY INC ETSYEUR EZ 2,449.2 (622.5) 795.0
ETSY INC ETSY* MM 2,449.2 (622.5) 795.0
ETSY INC ETSY-RM RM 2,449.2 (622.5) 795.0
ETSY INC 4ETSY TE 2,449.2 (622.5) 795.0
ETSY INC - BDR E2TS34 BZ 2,449.2 (622.5) 795.0
ETSY INC - CEDEA ETSY AR 2,449.2 (622.5) 795.0
EVOLUS INC EOLS US 168.0 (19.4) 43.5
EVOLUS INC EVL GR 168.0 (19.4) 43.5
EVOLUS INC EOLSEUR EU 168.0 (19.4) 43.5
EVOLUS INC EVL TH 168.0 (19.4) 43.5
EVOLUS INC EVL QT 168.0 (19.4) 43.5
EVOLUS INC EVL GZ 168.0 (19.4) 43.5
EVOLUS INC EOLSEUR EZ 168.0 (19.4) 43.5
FAIR ISAAC - BDR F2IC34 BZ 1,575.3 (688.0) 188.8
FAIR ISAAC CORP FRI GR 1,575.3 (688.0) 188.8
FAIR ISAAC CORP FICO US 1,575.3 (688.0) 188.8
FAIR ISAAC CORP FICOEUR EU 1,575.3 (688.0) 188.8
FAIR ISAAC CORP FRI QT 1,575.3 (688.0) 188.8
FAIR ISAAC CORP FICOEUR EZ 1,575.3 (688.0) 188.8
FAIR ISAAC CORP FICO1* MM 1,575.3 (688.0) 188.8
FAIR ISAAC CORP FRI GZ 1,575.3 (688.0) 188.8
FAIR ISAAC CORP FRI TH 1,575.3 (688.0) 188.8
FENNEC PHARMACEU FRX CN 19.0 (10.5) 15.0
FENNEC PHARMACEU FENC US 19.0 (10.5) 15.0
FENNEC PHARMACEU RV41 TH 19.0 (10.5) 15.0
FENNEC PHARMACEU RV41 GR 19.0 (10.5) 15.0
FENNEC PHARMACEU FRXEUR EU 19.0 (10.5) 15.0
FENNEC PHARMACEU RV41 GZ 19.0 (10.5) 15.0
FERRELLGAS PAR-B FGPRB US 1,531.4 (247.4) 176.6
FERRELLGAS-LP FGPR US 1,531.4 (247.4) 176.6
FIBROGEN INC FGEN* MM 460.4 (115.2) 154.7
FIBROGEN INC FGEN-RM RM 460.4 (115.2) 154.7
FOGHORN THERAPEU FHTX US 313.4 (57.4) 213.4
GCM GROSVENOR-A GCMG US 504.7 (93.7) 111.0
GEN RESTAURANT G GENK US 175.6 36.5 10.9
GODADDY INC -BDR G2DD34 BZ 6,499.2 (973.4) (1,448.3)
GODADDY INC-A GDDY US 6,499.2 (973.4) (1,448.3)
GODADDY INC-A 38D GR 6,499.2 (973.4) (1,448.3)
GODADDY INC-A 38D QT 6,499.2 (973.4) (1,448.3)
GODADDY INC-A GDDY* MM 6,499.2 (973.4) (1,448.3)
GODADDY INC-A 38D TH 6,499.2 (973.4) (1,448.3)
GODADDY INC-A 38D GZ 6,499.2 (973.4) (1,448.3)
GREEN PLAINS PAR GPP US 120.3 (1.1) 4.9
GROUPON INC G5NA GR 523.9 (49.3) (158.1)
GROUPON INC G5NA TH 523.9 (49.3) (158.1)
GROUPON INC GRPN US 523.9 (49.3) (158.1)
GROUPON INC G5NA QT 523.9 (49.3) (158.1)
GROUPON INC GRPNEUR EU 523.9 (49.3) (158.1)
GROUPON INC G5NA GZ 523.9 (49.3) (158.1)
GROUPON INC GRPN AV 523.9 (49.3) (158.1)
GROUPON INC GRPN* MM 523.9 (49.3) (158.1)
GROUPON INC GRPNEUR EZ 523.9 (49.3) (158.1)
H&R BLOCK - BDR H1RB34 BZ 2,511.1 (344.9) (160.9)
H&R BLOCK INC HRB US 2,511.1 (344.9) (160.9)
H&R BLOCK INC HRB GR 2,511.1 (344.9) (160.9)
H&R BLOCK INC HRB TH 2,511.1 (344.9) (160.9)
H&R BLOCK INC HRB QT 2,511.1 (344.9) (160.9)
H&R BLOCK INC HRBEUR EU 2,511.1 (344.9) (160.9)
H&R BLOCK INC HRB GZ 2,511.1 (344.9) (160.9)
H&R BLOCK INC HRB-RM RM 2,511.1 (344.9) (160.9)
HCM ACQUISITI-A HCMA US 295.2 276.9 1.0
HCM ACQUISITION HCMAU US 295.2 276.9 1.0
HERBALIFE LTD HOO GR 2,724.7 (1,103.5) 180.7
HERBALIFE LTD HLF US 2,724.7 (1,103.5) 180.7
HERBALIFE LTD HLFEUR EU 2,724.7 (1,103.5) 180.7
HERBALIFE LTD HOO QT 2,724.7 (1,103.5) 180.7
HERBALIFE LTD HOO GZ 2,724.7 (1,103.5) 180.7
HERBALIFE LTD HOO TH 2,724.7 (1,103.5) 180.7
HERON THERAPEUTI HRTX-RM RM 229.2 (27.8) 114.2
HEWLETT-CEDEAR HPQD AR 37,004.0 (1,069.0) (6,511.0)
HEWLETT-CEDEAR HPQC AR 37,004.0 (1,069.0) (6,511.0)
HEWLETT-CEDEAR HPQ AR 37,004.0 (1,069.0) (6,511.0)
HILTON WORLD-BDR H1LT34 BZ 15,200.0 (1,753.0) (1,077.0)
HILTON WORLDWIDE HLT US 15,200.0 (1,753.0) (1,077.0)
HILTON WORLDWIDE HI91 TH 15,200.0 (1,753.0) (1,077.0)
HILTON WORLDWIDE HI91 GR 15,200.0 (1,753.0) (1,077.0)
HILTON WORLDWIDE HI91 QT 15,200.0 (1,753.0) (1,077.0)
HILTON WORLDWIDE HLTEUR EU 15,200.0 (1,753.0) (1,077.0)
HILTON WORLDWIDE HLT* MM 15,200.0 (1,753.0) (1,077.0)
HILTON WORLDWIDE 4HLT TE 15,200.0 (1,753.0) (1,077.0)
HILTON WORLDWIDE HLTEUR EZ 15,200.0 (1,753.0) (1,077.0)
HILTON WORLDWIDE HLTW AV 15,200.0 (1,753.0) (1,077.0)
HILTON WORLDWIDE HI91 GZ 15,200.0 (1,753.0) (1,077.0)
HILTON WORLDWIDE HLT-RM RM 15,200.0 (1,753.0) (1,077.0)
HP COMPANY-BDR HPQB34 BZ 37,004.0 (1,069.0) (6,511.0)
HP INC HPQ* MM 37,004.0 (1,069.0) (6,511.0)
HP INC HPQ US 37,004.0 (1,069.0) (6,511.0)
HP INC 7HP TH 37,004.0 (1,069.0) (6,511.0)
HP INC 7HP GR 37,004.0 (1,069.0) (6,511.0)
HP INC 4HPQ TE 37,004.0 (1,069.0) (6,511.0)
HP INC HPQ CI 37,004.0 (1,069.0) (6,511.0)
HP INC HPQ SW 37,004.0 (1,069.0) (6,511.0)
HP INC 7HP QT 37,004.0 (1,069.0) (6,511.0)
HP INC HPQUSD SW 37,004.0 (1,069.0) (6,511.0)
HP INC HPQEUR EU 37,004.0 (1,069.0) (6,511.0)
HP INC 7HP GZ 37,004.0 (1,069.0) (6,511.0)
HP INC HPQ AV 37,004.0 (1,069.0) (6,511.0)
HP INC HPQEUR EZ 37,004.0 (1,069.0) (6,511.0)
HP INC HPQ-RM RM 37,004.0 (1,069.0) (6,511.0)
HP INC 7HPD EB 37,004.0 (1,069.0) (6,511.0)
HP INC 7HPD IX 37,004.0 (1,069.0) (6,511.0)
HP INC 7HPD I2 37,004.0 (1,069.0) (6,511.0)
IMMUNITYBIO INC IBRX US 432.4 (410.6) 124.8
IMMUNITYBIO INC 26CA GR 432.4 (410.6) 124.8
IMMUNITYBIO INC 26CA TH 432.4 (410.6) 124.8
IMMUNITYBIO INC NK1EUR EU 432.4 (410.6) 124.8
IMMUNITYBIO INC 26C GZ 432.4 (410.6) 124.8
IMMUNITYBIO INC NK1EUR EZ 432.4 (410.6) 124.8
IMMUNITYBIO INC 26CA QT 432.4 (410.6) 124.8
INSEEGO CORP INSG-RM RM 136.8 (90.8) 4.0
INSMED INC INSM US 1,324.9 (289.4) 729.8
INSMED INC IM8N GR 1,324.9 (289.4) 729.8
INSMED INC IM8N TH 1,324.9 (289.4) 729.8
INSMED INC INSMEUR EU 1,324.9 (289.4) 729.8
INSMED INC INSM* MM 1,324.9 (289.4) 729.8
INSPIRATO INC ISPO* MM 353.3 (141.6) (163.7)
INSPIRED ENTERTA INSE US 353.5 (50.3) 64.4
INSPIRED ENTERTA 4U8 GR 353.5 (50.3) 64.4
INSPIRED ENTERTA INSEEUR EU 353.5 (50.3) 64.4
INTUITIVE MACHIN LUNR US 103.0 (60.0) (52.0)
INVITAE CORP NVTA* MM 535.1 (1,083.4) 220.0
INVITAE CORP NVTA-RM RM 535.1 (1,083.4) 220.0
IRONWOOD PHARMAC I76 GR 524.1 (325.7) (27.0)
IRONWOOD PHARMAC IRWD US 524.1 (325.7) (27.0)
IRONWOOD PHARMAC I76 TH 524.1 (325.7) (27.0)
IRONWOOD PHARMAC I76 QT 524.1 (325.7) (27.0)
IRONWOOD PHARMAC IRWDEUR EU 524.1 (325.7) (27.0)
IRONWOOD PHARMAC IRWDEUR EZ 524.1 (325.7) (27.0)
IRONWOOD PHARMAC I76 GZ 524.1 (325.7) (27.0)
JACK IN THE BOX JBX GR 3,001.1 (718.3) (233.6)
JACK IN THE BOX JACK US 3,001.1 (718.3) (233.6)
JACK IN THE BOX JACK1EUR EU 3,001.1 (718.3) (233.6)
JACK IN THE BOX JBX GZ 3,001.1 (718.3) (233.6)
JACK IN THE BOX JBX QT 3,001.1 (718.3) (233.6)
JACK IN THE BOX JACK1EUR EZ 3,001.1 (718.3) (233.6)
L BRANDS INC-BDR B1BW34 BZ 5,243.0 (2,124.0) 550.0
LESLIE'S INC LESL US 1,137.4 (179.8) 221.4
LESLIE'S INC LE3 GR 1,137.4 (179.8) 221.4
LESLIE'S INC LESLEUR EU 1,137.4 (179.8) 221.4
LESLIE'S INC LE3 TH 1,137.4 (179.8) 221.4
LESLIE'S INC LE3 QT 1,137.4 (179.8) 221.4
LIFEMD INC LFMD US 33.9 (7.4) (7.9)
LINDBLAD EXPEDIT LIND US 851.6 (91.7) (59.9)
LINDBLAD EXPEDIT LI4 GR 851.6 (91.7) (59.9)
LINDBLAD EXPEDIT LINDEUR EU 851.6 (91.7) (59.9)
LINDBLAD EXPEDIT LI4 TH 851.6 (91.7) (59.9)
LINDBLAD EXPEDIT LI4 QT 851.6 (91.7) (59.9)
LINDBLAD EXPEDIT LI4 GZ 851.6 (91.7) (59.9)
LOWE'S COS INC LWE GR 42,519.0 (15,147.0) 3,472.0
LOWE'S COS INC LOW US 42,519.0 (15,147.0) 3,472.0
LOWE'S COS INC LWE TH 42,519.0 (15,147.0) 3,472.0
LOWE'S COS INC LWE QT 42,519.0 (15,147.0) 3,472.0
LOWE'S COS INC LOWEUR EU 42,519.0 (15,147.0) 3,472.0
LOWE'S COS INC LWE GZ 42,519.0 (15,147.0) 3,472.0
LOWE'S COS INC LOW* MM 42,519.0 (15,147.0) 3,472.0
LOWE'S COS INC 4LOW TE 42,519.0 (15,147.0) 3,472.0
LOWE'S COS INC LOWE AV 42,519.0 (15,147.0) 3,472.0
LOWE'S COS INC LOWEUR EZ 42,519.0 (15,147.0) 3,472.0
LOWE'S COS INC LOW-RM RM 42,519.0 (15,147.0) 3,472.0
LOWE'S COS-BDR LOWC34 BZ 42,519.0 (15,147.0) 3,472.0
LUMINAR TECHNOLO LAZR* MM 552.9 (165.7) 303.7
LUMINAR TECHNOLO LAZR-RM RM 552.9 (165.7) 303.7
LUMINAR TECHNOLO L2AZ34 BZ 552.9 (165.7) 303.7
LUMINE GROUP INC LMN CN 1,450.1 (3,175.8) (3,853.2)
LUMINE GROUP INC LMGIF US 1,450.1 (3,175.8) (3,853.2)
MADISON SQUARE G MSGS US 1,366.1 (358.5) (352.9)
MADISON SQUARE G MS8 GR 1,366.1 (358.5) (352.9)
MADISON SQUARE G MSG1EUR EU 1,366.1 (358.5) (352.9)
MADISON SQUARE G MS8 TH 1,366.1 (358.5) (352.9)
MADISON SQUARE G MS8 QT 1,366.1 (358.5) (352.9)
MADISON SQUARE G MS8 GZ 1,366.1 (358.5) (352.9)
MADISON SQUARE G MSGE US 1,348.5 (235.2) (321.1)
MADISON SQUARE G MSGE1* MM 1,348.5 (235.2) (321.1)
MANNKIND CORP NNFN GR 320.3 (251.8) 129.2
MANNKIND CORP MNKD US 320.3 (251.8) 129.2
MANNKIND CORP NNFN TH 320.3 (251.8) 129.2
MANNKIND CORP NNFN QT 320.3 (251.8) 129.2
MANNKIND CORP MNKDEUR EU 320.3 (251.8) 129.2
MANNKIND CORP MNKDEUR EZ 320.3 (251.8) 129.2
MANNKIND CORP NNFN GZ 320.3 (251.8) 129.2
MARKETWISE INC MKTW US 451.9 (246.6) (49.5)
MARKETWISE INC MKTW* MM 451.9 (246.6) (49.5)
MARRIOTT - BDR M1TT34 BZ 25,267.0 (661.0) (3,995.0)
MARRIOTT INTERNA MAQD EB 25,267.0 (661.0) (3,995.0)
MARRIOTT INTERNA MAQD IX 25,267.0 (661.0) (3,995.0)
MARRIOTT INTERNA MAQD I2 25,267.0 (661.0) (3,995.0)
MARRIOTT INTL-A MAQ TH 25,267.0 (661.0) (3,995.0)
MARRIOTT INTL-A MAQ GR 25,267.0 (661.0) (3,995.0)
MARRIOTT INTL-A MAR US 25,267.0 (661.0) (3,995.0)
MARRIOTT INTL-A MAQ QT 25,267.0 (661.0) (3,995.0)
MARRIOTT INTL-A MAREUR EU 25,267.0 (661.0) (3,995.0)
MARRIOTT INTL-A MAQ GZ 25,267.0 (661.0) (3,995.0)
MARRIOTT INTL-A MAR AV 25,267.0 (661.0) (3,995.0)
MARRIOTT INTL-A 4MAR TE 25,267.0 (661.0) (3,995.0)
MARRIOTT INTL-A MAQ SW 25,267.0 (661.0) (3,995.0)
MARRIOTT INTL-A MAREUR EZ 25,267.0 (661.0) (3,995.0)
MARRIOTT INTL-A MAR* MM 25,267.0 (661.0) (3,995.0)
MARRIOTT INTL-A MAR-RM RM 25,267.0 (661.0) (3,995.0)
MATCH GROUP -BDR M1TC34 BZ 4,248.9 (299.0) 548.1
MATCH GROUP INC 0JZ7 LI 4,248.9 (299.0) 548.1
MATCH GROUP INC MTCH US 4,248.9 (299.0) 548.1
MATCH GROUP INC MTCH1* MM 4,248.9 (299.0) 548.1
MATCH GROUP INC 4MGN TH 4,248.9 (299.0) 548.1
MATCH GROUP INC 4MGN GR 4,248.9 (299.0) 548.1
MATCH GROUP INC 4MGN QT 4,248.9 (299.0) 548.1
MATCH GROUP INC 4MGN SW 4,248.9 (299.0) 548.1
MATCH GROUP INC MTC2 AV 4,248.9 (299.0) 548.1
MATCH GROUP INC 4MGN GZ 4,248.9 (299.0) 548.1
MATCH GROUP INC MTCH-RM RM 4,248.9 (299.0) 548.1
MBIA INC MBI US 2,990.0 (1,228.0) -
MBIA INC MBJ GR 2,990.0 (1,228.0) -
MBIA INC MBJ TH 2,990.0 (1,228.0) -
MBIA INC MBJ QT 2,990.0 (1,228.0) -
MBIA INC MBI1EUR EU 2,990.0 (1,228.0) -
MBIA INC MBJ GZ 2,990.0 (1,228.0) -
MCDONALD'S CORP MDOD EB 52,089.3 (4,854.8) 2,847.3
MCDONALD'S CORP MDOD IX 52,089.3 (4,854.8) 2,847.3
MCDONALD'S CORP MDOD I2 52,089.3 (4,854.8) 2,847.3
MCDONALDS - BDR MCDC34 BZ 52,089.3 (4,854.8) 2,847.3
MCDONALDS CORP MDO TH 52,089.3 (4,854.8) 2,847.3
MCDONALDS CORP 4MCD TE 52,089.3 (4,854.8) 2,847.3
MCDONALDS CORP MDO GR 52,089.3 (4,854.8) 2,847.3
MCDONALDS CORP MCD* MM 52,089.3 (4,854.8) 2,847.3
MCDONALDS CORP MCD US 52,089.3 (4,854.8) 2,847.3
MCDONALDS CORP MCD SW 52,089.3 (4,854.8) 2,847.3
MCDONALDS CORP MCD CI 52,089.3 (4,854.8) 2,847.3
MCDONALDS CORP MDO QT 52,089.3 (4,854.8) 2,847.3
MCDONALDS CORP MCDUSD EU 52,089.3 (4,854.8) 2,847.3
MCDONALDS CORP MCDUSD SW 52,089.3 (4,854.8) 2,847.3
MCDONALDS CORP MCDEUR EU 52,089.3 (4,854.8) 2,847.3
MCDONALDS CORP MDO GZ 52,089.3 (4,854.8) 2,847.3
MCDONALDS CORP MCD AV 52,089.3 (4,854.8) 2,847.3
MCDONALDS CORP MCDUSD EZ 52,089.3 (4,854.8) 2,847.3
MCDONALDS CORP MCDEUR EZ 52,089.3 (4,854.8) 2,847.3
MCDONALDS CORP 0R16 LN 52,089.3 (4,854.8) 2,847.3
MCDONALDS CORP MCD-RM RM 52,089.3 (4,854.8) 2,847.3
MCDONALDS CORP MCDCL CI 52,089.3 (4,854.8) 2,847.3
MCDONALDS-CEDEAR MCDD AR 52,089.3 (4,854.8) 2,847.3
MCDONALDS-CEDEAR MCDC AR 52,089.3 (4,854.8) 2,847.3
MCDONALDS-CEDEAR MCD AR 52,089.3 (4,854.8) 2,847.3
MCKESSON CORP MCK* MM 66,091.0 (1,464.0) (3,616.0)
MCKESSON CORP MCK GR 66,091.0 (1,464.0) (3,616.0)
MCKESSON CORP MCK US 66,091.0 (1,464.0) (3,616.0)
MCKESSON CORP MCK TH 66,091.0 (1,464.0) (3,616.0)
MCKESSON CORP MCK1EUR EU 66,091.0 (1,464.0) (3,616.0)
MCKESSON CORP MCK QT 66,091.0 (1,464.0) (3,616.0)
MCKESSON CORP MCK GZ 66,091.0 (1,464.0) (3,616.0)
MCKESSON CORP MCK SW 66,091.0 (1,464.0) (3,616.0)
MCKESSON CORP MCK1EUR EZ 66,091.0 (1,464.0) (3,616.0)
MCKESSON CORP MCK-RM RM 66,091.0 (1,464.0) (3,616.0)
MCKESSON-BDR M1CK34 BZ 66,091.0 (1,464.0) (3,616.0)
MEDIAALPHA INC-A MAX US 133.0 (99.7) (9.2)
METTLER-TO - BDR M1TD34 BZ 3,288.7 (105.9) 126.5
METTLER-TOLEDO MTD US 3,288.7 (105.9) 126.5
METTLER-TOLEDO MTO GR 3,288.7 (105.9) 126.5
METTLER-TOLEDO MTO QT 3,288.7 (105.9) 126.5
METTLER-TOLEDO MTO GZ 3,288.7 (105.9) 126.5
METTLER-TOLEDO MTO TH 3,288.7 (105.9) 126.5
METTLER-TOLEDO MTDEUR EU 3,288.7 (105.9) 126.5
METTLER-TOLEDO MTD* MM 3,288.7 (105.9) 126.5
METTLER-TOLEDO MTDEUR EZ 3,288.7 (105.9) 126.5
METTLER-TOLEDO MTD AV 3,288.7 (105.9) 126.5
METTLER-TOLEDO MTD-RM RM 3,288.7 (105.9) 126.5
MSCI INC 3HM GR 4,865.5 (1,049.1) 434.7
MSCI INC MSCI US 4,865.5 (1,049.1) 434.7
MSCI INC 3HM QT 4,865.5 (1,049.1) 434.7
MSCI INC 3HM SW 4,865.5 (1,049.1) 434.7
MSCI INC MSCI* MM 4,865.5 (1,049.1) 434.7
MSCI INC MSCIEUR EZ 4,865.5 (1,049.1) 434.7
MSCI INC 3HM GZ 4,865.5 (1,049.1) 434.7
MSCI INC 3HM TH 4,865.5 (1,049.1) 434.7
MSCI INC MSCI AV 4,865.5 (1,049.1) 434.7
MSCI INC MSCI-RM RM 4,865.5 (1,049.1) 434.7
MSCI INC-BDR M1SC34 BZ 4,865.5 (1,049.1) 434.7
N/A 3XD GZ 3,271.2 (21.4) 614.8
N/A 0WKA GZ 1,149.1 (113.7) 509.1
N/A CPB1 GZ 292.1 (56.7) 115.2
N/A KK3A GZ 740.6 (438.8) 483.7
N/A BKJ GZ 2,474.8 (156.3) (364.5)
N/A D51 GZ 691.6 (323.5) 274.0
N/A IM8N GZ 1,324.9 (289.4) 729.8
N/A J8M GR 146.6 (241.3) 2.7
N/A BH3 GZ 1,259.9 (670.8) 48.2
N/A BPF-UEUR EU 146.6 (241.3) 2.7
N/A BCOD QE 134,281 (16,717.0) 13,873.0
N/A 1PTON IM 2,672.8 (371.0) 837.5
N/A 1MO IM 36,469.0 (3,357.0) (6,991.0)
N/A 1BA IM 134,281 (16,717.0) 13,873.0
N/A 1MAR IM 25,267.0 (661.0) (3,995.0)
N/A 1STX IM 7,196.0 (1,702.0) 163.0
N/A 1BKNG IM 25,635.0 (625.0) 5,647.0
N/A 1MCD IM 52,089.3 (4,854.8) 2,847.3
N/A 1OGN IM 11,012.0 (589.0) 1,559.0
N/A 1ETSY IM 2,449.2 (622.5) 795.0
N/A 1AZO IM 15,985.9 (4,349.9) (1,732.4)
N/A 1HPQ IM 37,004.0 (1,069.0) (6,511.0)
N/A 1LOW IM 42,519.0 (15,147.0) 3,472.0
N/A 1PM IM 62,927.0 (7,706.0) (2,354.0)
N/A 1AAL IM 65,711.0 (5,136.0) (7,672.0)
N/A 1BYND IM 929.2 (362.9) 392.8
N/A 1HLT IM 15,200.0 (1,753.0) (1,077.0)
NANOSTRING TECHN NSTG* MM 274.7 (50.6) 134.3
NATHANS FAMOUS NATH US 65.6 (35.4) 40.0
NATHANS FAMOUS NFA GR 65.6 (35.4) 40.0
NATHANS FAMOUS NATHEUR EU 65.6 (35.4) 40.0
NEW ENG RLTY-LP NEN US 386.2 (64.7) -
NIOCORP DEVELOPM NB CN 27.7 (11.7) 0.2
NOVAVAX INC NVV1 GR 1,657.2 (678.4) (461.8)
NOVAVAX INC NVAX US 1,657.2 (678.4) (461.8)
NOVAVAX INC NVV1 TH 1,657.2 (678.4) (461.8)
NOVAVAX INC NVV1 QT 1,657.2 (678.4) (461.8)
NOVAVAX INC NVAXEUR EU 1,657.2 (678.4) (461.8)
NOVAVAX INC NVV1 GZ 1,657.2 (678.4) (461.8)
NOVAVAX INC NVV1 SW 1,657.2 (678.4) (461.8)
NOVAVAX INC NVAX* MM 1,657.2 (678.4) (461.8)
NOVAVAX INC 0A3S LI 1,657.2 (678.4) (461.8)
NOVAVAX INC NVV1 BU 1,657.2 (678.4) (461.8)
NUTANIX INC - A NTNX US 2,526.9 (707.4) 725.6
NUTANIX INC - A 0NU GR 2,526.9 (707.4) 725.6
NUTANIX INC - A NTNXEUR EU 2,526.9 (707.4) 725.6
NUTANIX INC - A 0NU TH 2,526.9 (707.4) 725.6
NUTANIX INC - A 0NU QT 2,526.9 (707.4) 725.6
NUTANIX INC - A 0NU GZ 2,526.9 (707.4) 725.6
NUTANIX INC - A NTNXEUR EZ 2,526.9 (707.4) 725.6
NUTANIX INC - A NTNX-RM RM 2,526.9 (707.4) 725.6
NUTANIX INC-BDR N2TN34 BZ 2,526.9 (707.4) 725.6
O'REILLY AUT-BDR ORLY34 BZ 13,551.8 (1,760.5) (2,453.4)
O'REILLY AUTOMOT OM6 GR 13,551.8 (1,760.5) (2,453.4)
O'REILLY AUTOMOT ORLY US 13,551.8 (1,760.5) (2,453.4)
O'REILLY AUTOMOT OM6 TH 13,551.8 (1,760.5) (2,453.4)
O'REILLY AUTOMOT OM6 QT 13,551.8 (1,760.5) (2,453.4)
O'REILLY AUTOMOT ORLY* MM 13,551.8 (1,760.5) (2,453.4)
O'REILLY AUTOMOT ORLYEUR EU 13,551.8 (1,760.5) (2,453.4)
O'REILLY AUTOMOT OM6 GZ 13,551.8 (1,760.5) (2,453.4)
O'REILLY AUTOMOT ORLY AV 13,551.8 (1,760.5) (2,453.4)
O'REILLY AUTOMOT ORLYEUR EZ 13,551.8 (1,760.5) (2,453.4)
O'REILLY AUTOMOT ORLY-RM RM 13,551.8 (1,760.5) (2,453.4)
ORGANON & CO OGN US 11,012.0 (589.0) 1,559.0
ORGANON & CO 7XP TH 11,012.0 (589.0) 1,559.0
ORGANON & CO OGN-WEUR EU 11,012.0 (589.0) 1,559.0
ORGANON & CO 7XP GR 11,012.0 (589.0) 1,559.0
ORGANON & CO OGN* MM 11,012.0 (589.0) 1,559.0
ORGANON & CO 7XP GZ 11,012.0 (589.0) 1,559.0
ORGANON & CO 7XP QT 11,012.0 (589.0) 1,559.0
ORGANON & CO OGN-RM RM 11,012.0 (589.0) 1,559.0
ORGANON & CO 4OGN TE 11,012.0 (589.0) 1,559.0
OTIS WORLDWI OTIS US 10,390.0 (4,610.0) -
OTIS WORLDWI 4PG GR 10,390.0 (4,610.0) -
OTIS WORLDWI 4PG GZ 10,390.0 (4,610.0) -
OTIS WORLDWI OTISEUR EZ 10,390.0 (4,610.0) -
OTIS WORLDWI OTISEUR EU 10,390.0 (4,610.0) -
OTIS WORLDWI OTIS* MM 10,390.0 (4,610.0) -
OTIS WORLDWI 4PG TH 10,390.0 (4,610.0) -
OTIS WORLDWI 4PG QT 10,390.0 (4,610.0) -
OTIS WORLDWI OTIS AV 10,390.0 (4,610.0) -
OTIS WORLDWI OTIS-RM RM 10,390.0 (4,610.0) -
OTIS WORLDWI-BDR O1TI34 BZ 10,390.0 (4,610.0) -
PAPA JOHN'S INTL PZZA US 877.6 (459.0) (54.8)
PAPA JOHN'S INTL PP1 GR 877.6 (459.0) (54.8)
PAPA JOHN'S INTL PZZAEUR EU 877.6 (459.0) (54.8)
PAPA JOHN'S INTL PP1 GZ 877.6 (459.0) (54.8)
PAPA JOHN'S INTL PP1 TH 877.6 (459.0) (54.8)
PAPA JOHN'S INTL PP1 QT 877.6 (459.0) (54.8)
PAPA JOHN'S INTL PZZAEUR EZ 877.6 (459.0) (54.8)
PELOTON INTERA-A PTON US 2,672.8 (371.0) 837.5
PELOTON INTERA-A 2ON GR 2,672.8 (371.0) 837.5
PELOTON INTERA-A 2ON GZ 2,672.8 (371.0) 837.5
PELOTON INTERA-A PTONEUR EZ 2,672.8 (371.0) 837.5
PELOTON INTERA-A PTONEUR EU 2,672.8 (371.0) 837.5
PELOTON INTERA-A 2ON QT 2,672.8 (371.0) 837.5
PELOTON INTERA-A 2ON TH 2,672.8 (371.0) 837.5
PELOTON INTERA-A PTON* MM 2,672.8 (371.0) 837.5
PELOTON INTERA-A 0A46 LI 2,672.8 (371.0) 837.5
PELOTON INTERA-A PTON AV 2,672.8 (371.0) 837.5
PELOTON INTERA-A 2ON SW 2,672.8 (371.0) 837.5
PELOTON INTERA-A PTON-RM RM 2,672.8 (371.0) 837.5
PELOTON INTERACT 4PTON TE 2,672.8 (371.0) 837.5
PETRO USA INC PBAJ US 0.0 (0.1) (0.1)
PHATHOM PHARMACE PHAT US 237.0 (17.8) 202.7
PHILIP MORRI-BDR PHMO34 BZ 62,927.0 (7,706.0) (2,354.0)
PHILIP MORRIS IN PM1EUR EU 62,927.0 (7,706.0) (2,354.0)
PHILIP MORRIS IN PMI SW 62,927.0 (7,706.0) (2,354.0)
PHILIP MORRIS IN 4PM TE 62,927.0 (7,706.0) (2,354.0)
PHILIP MORRIS IN 4I1 TH 62,927.0 (7,706.0) (2,354.0)
PHILIP MORRIS IN PM1CHF EU 62,927.0 (7,706.0) (2,354.0)
PHILIP MORRIS IN 4I1 GR 62,927.0 (7,706.0) (2,354.0)
PHILIP MORRIS IN PM US 62,927.0 (7,706.0) (2,354.0)
PHILIP MORRIS IN PMIZ IX 62,927.0 (7,706.0) (2,354.0)
PHILIP MORRIS IN PMIZ EB 62,927.0 (7,706.0) (2,354.0)
PHILIP MORRIS IN 4I1 QT 62,927.0 (7,706.0) (2,354.0)
PHILIP MORRIS IN 4I1 GZ 62,927.0 (7,706.0) (2,354.0)
PHILIP MORRIS IN 0M8V LN 62,927.0 (7,706.0) (2,354.0)
PHILIP MORRIS IN PMOR AV 62,927.0 (7,706.0) (2,354.0)
PHILIP MORRIS IN PM* MM 62,927.0 (7,706.0) (2,354.0)
PHILIP MORRIS IN PM1CHF EZ 62,927.0 (7,706.0) (2,354.0)
PHILIP MORRIS IN PM1EUR EZ 62,927.0 (7,706.0) (2,354.0)
PHILIP MORRIS IN PM-RM RM 62,927.0 (7,706.0) (2,354.0)
PITNEY BOW-CED PBI AR 4,422.7 (125.1) (23.0)
PITNEY BOWES INC PBW GR 4,422.7 (125.1) (23.0)
PITNEY BOWES INC PBI US 4,422.7 (125.1) (23.0)
PITNEY BOWES INC PBW TH 4,422.7 (125.1) (23.0)
PITNEY BOWES INC PBIEUR EU 4,422.7 (125.1) (23.0)
PITNEY BOWES INC PBW QT 4,422.7 (125.1) (23.0)
PITNEY BOWES INC PBW GZ 4,422.7 (125.1) (23.0)
PITNEY BOWES INC PBI-RM RM 4,422.7 (125.1) (23.0)
PLANET FITNESS I P2LN34 BZ 2,944.8 (164.9) 267.3
PLANET FITNESS I PLNT* MM 2,944.8 (164.9) 267.3
PLANET FITNESS-A PLNT US 2,944.8 (164.9) 267.3
PLANET FITNESS-A 3PL TH 2,944.8 (164.9) 267.3
PLANET FITNESS-A 3PL GR 2,944.8 (164.9) 267.3
PLANET FITNESS-A 3PL QT 2,944.8 (164.9) 267.3
PLANET FITNESS-A PLNT1EUR EU 2,944.8 (164.9) 267.3
PLANET FITNESS-A PLNT1EUR EZ 2,944.8 (164.9) 267.3
PLANET FITNESS-A 3PL GZ 2,944.8 (164.9) 267.3
PROS HOLDINGS IN PH2 GR 431.9 (54.9) 42.5
PROS HOLDINGS IN PRO US 431.9 (54.9) 42.5
PROS HOLDINGS IN PRO1EUR EU 431.9 (54.9) 42.5
PTC THERAPEUTICS PTCT US 1,259.9 (670.8) 48.2
PTC THERAPEUTICS BH3 GR 1,259.9 (670.8) 48.2
PTC THERAPEUTICS P91 TH 1,259.9 (670.8) 48.2
PTC THERAPEUTICS P91 QT 1,259.9 (670.8) 48.2
RAPID7 INC RPD US 1,399.3 (161.6) 28.3
RAPID7 INC R7D GR 1,399.3 (161.6) 28.3
RAPID7 INC RPDEUR EU 1,399.3 (161.6) 28.3
RAPID7 INC R7D SW 1,399.3 (161.6) 28.3
RAPID7 INC R7D TH 1,399.3 (161.6) 28.3
RAPID7 INC RPD* MM 1,399.3 (161.6) 28.3
RAPID7 INC R7D GZ 1,399.3 (161.6) 28.3
RAPID7 INC R7D QT 1,399.3 (161.6) 28.3
RAPID7 INC-BDR R2PD34 BZ 1,399.3 (161.6) 28.3
RE/MAX HOLDINGS RMAX US 597.9 (63.3) 21.3
RE/MAX HOLDINGS 2RM GR 597.9 (63.3) 21.3
RE/MAX HOLDINGS RMAXEUR EU 597.9 (63.3) 21.3
REC SILICON ASA RECSI NO 443.6 (12.4) 106.6
REC SILICON ASA RECSIO IX 443.6 (12.4) 106.6
REC SILICON ASA REC EU 443.6 (12.4) 106.6
REC SILICON ASA RECSIO EB 443.6 (12.4) 106.6
REC SILICON ASA REC SS 443.6 (12.4) 106.6
REC SILICON ASA RECSIO PO 443.6 (12.4) 106.6
REC SILICON ASA REC EZ 443.6 (12.4) 106.6
REC SILICON ASA REC EP 443.6 (12.4) 106.6
REC SILICON ASA RECSIO QE 443.6 (12.4) 106.6
REC SILICON ASA RECSIO T1 443.6 (12.4) 106.6
REC SILICON ASA RECSIO I2 443.6 (12.4) 106.6
REC SILICON ASA RECO S4 443.6 (12.4) 106.6
REC SILICON ASA RECSIO BQ 443.6 (12.4) 106.6
REVANCE THERAPEU RVNC US 532.5 (106.2) 306.4
REVANCE THERAPEU RTI GR 532.5 (106.2) 306.4
REVANCE THERAPEU RTI QT 532.5 (106.2) 306.4
REVANCE THERAPEU RVNCEUR EU 532.5 (106.2) 306.4
REVANCE THERAPEU RVNCEUR EZ 532.5 (106.2) 306.4
REVANCE THERAPEU RTI TH 532.5 (106.2) 306.4
REVANCE THERAPEU RTI GZ 532.5 (106.2) 306.4
RH RH US 4,212.8 (284.6) 483.9
RH RS1 GR 4,212.8 (284.6) 483.9
RH RH* MM 4,212.8 (284.6) 483.9
RH RHEUR EU 4,212.8 (284.6) 483.9
RH RS1 TH 4,212.8 (284.6) 483.9
RH RS1 GZ 4,212.8 (284.6) 483.9
RH RHEUR EZ 4,212.8 (284.6) 483.9
RH RS1 QT 4,212.8 (284.6) 483.9
RH - BDR R2HH34 BZ 4,212.8 (284.6) 483.9
RIMINI STREET IN RMNI US 335.0 (53.1) (56.7)
RINGCENTRAL IN-A RNG US 2,182.5 (285.0) 447.0
RINGCENTRAL IN-A 3RCA GR 2,182.5 (285.0) 447.0
RINGCENTRAL IN-A RNGEUR EU 2,182.5 (285.0) 447.0
RINGCENTRAL IN-A 3RCA TH 2,182.5 (285.0) 447.0
RINGCENTRAL IN-A 3RCA QT 2,182.5 (285.0) 447.0
RINGCENTRAL IN-A RNGEUR EZ 2,182.5 (285.0) 447.0
RINGCENTRAL IN-A RNG* MM 2,182.5 (285.0) 447.0
RINGCENTRAL IN-A 3RCA GZ 2,182.5 (285.0) 447.0
RINGCENTRAL-BDR R2NG34 BZ 2,182.5 (285.0) 447.0
SABRE CORP SABR US 4,741.7 (1,267.9) 288.1
SABRE CORP 19S GR 4,741.7 (1,267.9) 288.1
SABRE CORP 19S TH 4,741.7 (1,267.9) 288.1
SABRE CORP 19S QT 4,741.7 (1,267.9) 288.1
SABRE CORP SABREUR EU 4,741.7 (1,267.9) 288.1
SABRE CORP SABREUR EZ 4,741.7 (1,267.9) 288.1
SABRE CORP 19S GZ 4,741.7 (1,267.9) 288.1
SBA COMM CORP 4SB GR 10,334.2 (5,131.4) (203.2)
SBA COMM CORP SBAC US 10,334.2 (5,131.4) (203.2)
SBA COMM CORP 4SB TH 10,334.2 (5,131.4) (203.2)
SBA COMM CORP 4SB QT 10,334.2 (5,131.4) (203.2)
SBA COMM CORP SBACEUR EU 10,334.2 (5,131.4) (203.2)
SBA COMM CORP 4SB GZ 10,334.2 (5,131.4) (203.2)
SBA COMM CORP SBAC* MM 10,334.2 (5,131.4) (203.2)
SBA COMM CORP SBACEUR EZ 10,334.2 (5,131.4) (203.2)
SCOTTS MIRACLE SCQA GR 3,413.7 (267.3) 624.1
SCOTTS MIRACLE SMG US 3,413.7 (267.3) 624.1
SCOTTS MIRACLE SCQA QT 3,413.7 (267.3) 624.1
SCOTTS MIRACLE SCQA TH 3,413.7 (267.3) 624.1
SCOTTS MIRACLE SCQA GZ 3,413.7 (267.3) 624.1
SEAGATE TECHNOLO S1TX34 BZ 7,196.0 (1,702.0) 163.0
SEAGATE TECHNOLO STXN MM 7,196.0 (1,702.0) 163.0
SEAGATE TECHNOLO STX US 7,196.0 (1,702.0) 163.0
SEAGATE TECHNOLO 847 GR 7,196.0 (1,702.0) 163.0
SEAGATE TECHNOLO 847 GZ 7,196.0 (1,702.0) 163.0
SEAGATE TECHNOLO STX4EUR EU 7,196.0 (1,702.0) 163.0
SEAGATE TECHNOLO 847 TH 7,196.0 (1,702.0) 163.0
SEAGATE TECHNOLO STXH AV 7,196.0 (1,702.0) 163.0
SEAGATE TECHNOLO 847 QT 7,196.0 (1,702.0) 163.0
SEAGATE TECHNOLO 4STX TE 7,196.0 (1,702.0) 163.0
SEAWORLD ENTERTA SEAS US 2,575.5 (252.4) (30.6)
SEAWORLD ENTERTA W2L GR 2,575.5 (252.4) (30.6)
SEAWORLD ENTERTA W2L TH 2,575.5 (252.4) (30.6)
SEAWORLD ENTERTA SEASEUR EU 2,575.5 (252.4) (30.6)
SEAWORLD ENTERTA W2L QT 2,575.5 (252.4) (30.6)
SEAWORLD ENTERTA W2L GZ 2,575.5 (252.4) (30.6)
SIRIUS XM HO-BDR SRXM34 BZ 10,129.0 (2,893.0) (2,117.0)
SIRIUS XM HOLDIN SIRI US 10,129.0 (2,893.0) (2,117.0)
SIRIUS XM HOLDIN RDO TH 10,129.0 (2,893.0) (2,117.0)
SIRIUS XM HOLDIN RDO GR 10,129.0 (2,893.0) (2,117.0)
SIRIUS XM HOLDIN RDO QT 10,129.0 (2,893.0) (2,117.0)
SIRIUS XM HOLDIN SIRIEUR EU 10,129.0 (2,893.0) (2,117.0)
SIRIUS XM HOLDIN RDO GZ 10,129.0 (2,893.0) (2,117.0)
SIRIUS XM HOLDIN SIRI AV 10,129.0 (2,893.0) (2,117.0)
SIRIUS XM HOLDIN SIRIEUR EZ 10,129.0 (2,893.0) (2,117.0)
SIRIUS XM HOLDIN SIRI* MM 10,129.0 (2,893.0) (2,117.0)
SIX FLAGS ENTERT SIX US 2,717.1 (335.3) (280.1)
SIX FLAGS ENTERT 6FE GR 2,717.1 (335.3) (280.1)
SIX FLAGS ENTERT SIXEUR EU 2,717.1 (335.3) (280.1)
SIX FLAGS ENTERT 6FE TH 2,717.1 (335.3) (280.1)
SIX FLAGS ENTERT 6FE QT 2,717.1 (335.3) (280.1)
SIX FLAGS ENTERT S2IX34 BZ 2,717.1 (335.3) (280.1)
SLEEP NUMBER COR SNBR US 961.0 (420.7) (721.3)
SLEEP NUMBER COR SL2 GR 961.0 (420.7) (721.3)
SLEEP NUMBER COR SNBREUR EU 961.0 (420.7) (721.3)
SLEEP NUMBER COR SL2 TH 961.0 (420.7) (721.3)
SLEEP NUMBER COR SL2 QT 961.0 (420.7) (721.3)
SLEEP NUMBER COR SL2 GZ 961.0 (420.7) (721.3)
SONDER HOLDINGS SOND* MM 1,716.3 (192.7) (96.0)
SPARK I ACQUISIT SPKLU US 1.2 (3.0) (4.0)
SPIRIT AEROSYS-A S9Q GR 6,538.1 (855.7) 971.2
SPIRIT AEROSYS-A SPR US 6,538.1 (855.7) 971.2
SPIRIT AEROSYS-A S9Q TH 6,538.1 (855.7) 971.2
SPIRIT AEROSYS-A SPREUR EU 6,538.1 (855.7) 971.2
SPIRIT AEROSYS-A S9Q QT 6,538.1 (855.7) 971.2
SPIRIT AEROSYS-A S9Q SW 6,538.1 (855.7) 971.2
SPIRIT AEROSYS-A SPREUR EZ 6,538.1 (855.7) 971.2
SPIRIT AEROSYS-A S9Q GZ 6,538.1 (855.7) 971.2
SPIRIT AEROSYS-A SPR-RM RM 6,538.1 (855.7) 971.2
SPLUNK INC SPLK US 6,076.9 (39.0) 1,040.2
SPLUNK INC S0U GR 6,076.9 (39.0) 1,040.2
SPLUNK INC S0U TH 6,076.9 (39.0) 1,040.2
SPLUNK INC S0U QT 6,076.9 (39.0) 1,040.2
SPLUNK INC SPLK SW 6,076.9 (39.0) 1,040.2
SPLUNK INC SPLKEUR EU 6,076.9 (39.0) 1,040.2
SPLUNK INC SPLK* MM 6,076.9 (39.0) 1,040.2
SPLUNK INC SPLKEUR EZ 6,076.9 (39.0) 1,040.2
SPLUNK INC S0U GZ 6,076.9 (39.0) 1,040.2
SPLUNK INC SPLK-RM RM 6,076.9 (39.0) 1,040.2
SPLUNK INC - BDR S1PL34 BZ 6,076.9 (39.0) 1,040.2
SQUARESPACE -BDR S2QS34 BZ 904.9 (288.0) (204.6)
SQUARESPACE IN-A SQSP US 904.9 (288.0) (204.6)
SQUARESPACE IN-A 8DT GR 904.9 (288.0) (204.6)
SQUARESPACE IN-A 8DT GZ 904.9 (288.0) (204.6)
SQUARESPACE IN-A SQSPEUR EU 904.9 (288.0) (204.6)
SQUARESPACE IN-A 8DT TH 904.9 (288.0) (204.6)
SQUARESPACE IN-A 8DT QT 904.9 (288.0) (204.6)
STARBUCKS CORP SBUX US 29,445.5 (7,987.8) (2,041.9)
STARBUCKS CORP SBUX* MM 29,445.5 (7,987.8) (2,041.9)
STARBUCKS CORP SRB TH 29,445.5 (7,987.8) (2,041.9)
STARBUCKS CORP SRB GR 29,445.5 (7,987.8) (2,041.9)
STARBUCKS CORP SBUX CI 29,445.5 (7,987.8) (2,041.9)
STARBUCKS CORP SBUX SW 29,445.5 (7,987.8) (2,041.9)
STARBUCKS CORP SRB QT 29,445.5 (7,987.8) (2,041.9)
STARBUCKS CORP SBUX PE 29,445.5 (7,987.8) (2,041.9)
STARBUCKS CORP SBUXUSD SW 29,445.5 (7,987.8) (2,041.9)
STARBUCKS CORP SRB GZ 29,445.5 (7,987.8) (2,041.9)
STARBUCKS CORP SBUX AV 29,445.5 (7,987.8) (2,041.9)
STARBUCKS CORP 4SBUX TE 29,445.5 (7,987.8) (2,041.9)
STARBUCKS CORP SBUXEUR EU 29,445.5 (7,987.8) (2,041.9)
STARBUCKS CORP 1SBUX IM 29,445.5 (7,987.8) (2,041.9)
STARBUCKS CORP SBUXEUR EZ 29,445.5 (7,987.8) (2,041.9)
STARBUCKS CORP 0QZH LI 29,445.5 (7,987.8) (2,041.9)
STARBUCKS CORP SBUX-RM RM 29,445.5 (7,987.8) (2,041.9)
STARBUCKS CORP SBUXCL CI 29,445.5 (7,987.8) (2,041.9)
STARBUCKS CORP SBUX_KZ KZ 29,445.5 (7,987.8) (2,041.9)
STARBUCKS CORP SRBD BQ 29,445.5 (7,987.8) (2,041.9)
STARBUCKS CORP SRBD EB 29,445.5 (7,987.8) (2,041.9)
STARBUCKS CORP SRBD IX 29,445.5 (7,987.8) (2,041.9)
STARBUCKS CORP SRBD I2 29,445.5 (7,987.8) (2,041.9)
STARBUCKS-BDR SBUB34 BZ 29,445.5 (7,987.8) (2,041.9)
STARBUCKS-CEDEAR SBUX AR 29,445.5 (7,987.8) (2,041.9)
STARBUCKS-CEDEAR SBUXD AR 29,445.5 (7,987.8) (2,041.9)
SYMBOTIC INC SYM US 1,050.7 (2.7) (33.7)
TORRID HOLDINGS CURV US 492.4 (207.7) (31.6)
TRANSDIGM - BDR T1DG34 BZ 19,970.0 (1,978.0) 5,159.0
TRANSDIGM GROUP T7D GR 19,970.0 (1,978.0) 5,159.0
TRANSDIGM GROUP TDG US 19,970.0 (1,978.0) 5,159.0
TRANSDIGM GROUP T7D QT 19,970.0 (1,978.0) 5,159.0
TRANSDIGM GROUP TDGEUR EU 19,970.0 (1,978.0) 5,159.0
TRANSDIGM GROUP T7D TH 19,970.0 (1,978.0) 5,159.0
TRANSDIGM GROUP TDG* MM 19,970.0 (1,978.0) 5,159.0
TRANSDIGM GROUP TDGEUR EZ 19,970.0 (1,978.0) 5,159.0
TRANSDIGM GROUP TDG-RM RM 19,970.0 (1,978.0) 5,159.0
TRAVEL + LEISURE WD5A GR 6,655.0 (997.0) 648.0
TRAVEL + LEISURE TNL US 6,655.0 (997.0) 648.0
TRAVEL + LEISURE WD5A TH 6,655.0 (997.0) 648.0
TRAVEL + LEISURE WD5A QT 6,655.0 (997.0) 648.0
TRAVEL + LEISURE WYNEUR EU 6,655.0 (997.0) 648.0
TRAVEL + LEISURE 0M1K LI 6,655.0 (997.0) 648.0
TRAVEL + LEISURE WD5A GZ 6,655.0 (997.0) 648.0
TRAVEL + LEISURE TNL* MM 6,655.0 (997.0) 648.0
TRINSEO PLC TSE US 3,271.2 (21.4) 614.8
TRINSEO PLC 3XD GR 3,271.2 (21.4) 614.8
TRINSEO PLC TSE3EUR EU 3,271.2 (21.4) 614.8
TRIUMPH GROUP TG7 GR 1,673.1 (668.2) 582.6
TRIUMPH GROUP TGI US 1,673.1 (668.2) 582.6
TRIUMPH GROUP TGIEUR EU 1,673.1 (668.2) 582.6
TRIUMPH GROUP TG7 TH 1,673.1 (668.2) 582.6
TRIUMPH GROUP TG7 GZ 1,673.1 (668.2) 582.6
UBIQUITI INC 3UB GR 1,388.1 (63.1) 815.6
UBIQUITI INC UI US 1,388.1 (63.1) 815.6
UBIQUITI INC UBNTEUR EU 1,388.1 (63.1) 815.6
UBIQUITI INC 3UB TH 1,388.1 (63.1) 815.6
UNITI GROUP INC UNIT US 4,981.3 (2,444.4) -
UNITI GROUP INC 8XC GR 4,981.3 (2,444.4) -
UNITI GROUP INC 8XC TH 4,981.3 (2,444.4) -
UNITI GROUP INC 8XC GZ 4,981.3 (2,444.4) -
UROGEN PHARMA LT URGN US 193.6 (42.0) 156.3
UROGEN PHARMA LT UR8 GR 193.6 (42.0) 156.3
UROGEN PHARMA LT URGNEUR EU 193.6 (42.0) 156.3
VECTOR GROUP LTD VGR GR 1,101.0 (773.4) 356.4
VECTOR GROUP LTD VGR US 1,101.0 (773.4) 356.4
VECTOR GROUP LTD VGR QT 1,101.0 (773.4) 356.4
VECTOR GROUP LTD VGREUR EU 1,101.0 (773.4) 356.4
VECTOR GROUP LTD VGR SW 1,101.0 (773.4) 356.4
VECTOR GROUP LTD VGREUR EZ 1,101.0 (773.4) 356.4
VECTOR GROUP LTD VGR TH 1,101.0 (773.4) 356.4
VECTOR GROUP LTD VGR GZ 1,101.0 (773.4) 356.4
VERISIGN INC VRS TH 1,695.9 (1,633.4) (166.6)
VERISIGN INC VRS GR 1,695.9 (1,633.4) (166.6)
VERISIGN INC VRSN US 1,695.9 (1,633.4) (166.6)
VERISIGN INC VRS QT 1,695.9 (1,633.4) (166.6)
VERISIGN INC VRSNEUR EU 1,695.9 (1,633.4) (166.6)
VERISIGN INC VRS GZ 1,695.9 (1,633.4) (166.6)
VERISIGN INC VRSN* MM 1,695.9 (1,633.4) (166.6)
VERISIGN INC VRSNEUR EZ 1,695.9 (1,633.4) (166.6)
VERISIGN INC VRSN-RM RM 1,695.9 (1,633.4) (166.6)
VERISIGN INC-BDR VRSN34 BZ 1,695.9 (1,633.4) (166.6)
VERISIGN-CEDEAR VRSN AR 1,695.9 (1,633.4) (166.6)
WAVE LIFE SCIENC WVE US 199.9 (32.6) 58.6
WAVE LIFE SCIENC WVEEUR EU 199.9 (32.6) 58.6
WAVE LIFE SCIENC 1U5 GR 199.9 (32.6) 58.6
WAVE LIFE SCIENC 1U5 TH 199.9 (32.6) 58.6
WAVE LIFE SCIENC 1U5 GZ 199.9 (32.6) 58.6
WAYFAIR INC- A W US 3,360.0 (2,708.0) (212.0)
WAYFAIR INC- A 1WF GR 3,360.0 (2,708.0) (212.0)
WAYFAIR INC- A 1WF TH 3,360.0 (2,708.0) (212.0)
WAYFAIR INC- A WEUR EU 3,360.0 (2,708.0) (212.0)
WAYFAIR INC- A 1WF QT 3,360.0 (2,708.0) (212.0)
WAYFAIR INC- A WEUR EZ 3,360.0 (2,708.0) (212.0)
WAYFAIR INC- A 1WF GZ 3,360.0 (2,708.0) (212.0)
WAYFAIR INC- A W* MM 3,360.0 (2,708.0) (212.0)
WAYFAIR INC- BDR W2YF34 BZ 3,360.0 (2,708.0) (212.0)
WEWORK INC-CL A WE* MM 15,063.0 (3,593.0) (1,445.0)
WINGSTOP INC WING US 351.7 (475.4) 65.5
WINGSTOP INC EWG GR 351.7 (475.4) 65.5
WINGSTOP INC WING1EUR EU 351.7 (475.4) 65.5
WINGSTOP INC EWG GZ 351.7 (475.4) 65.5
WINGSTOP INC EWG TH 351.7 (475.4) 65.5
WINMARK CORP WINA US 55.5 (34.6) 32.2
WINMARK CORP GBZ GR 55.5 (34.6) 32.2
WORKIVA INC WK US 1,149.1 (113.7) 509.1
WORKIVA INC 0WKA GR 1,149.1 (113.7) 509.1
WORKIVA INC WKEUR EU 1,149.1 (113.7) 509.1
WORKIVA INC 0WKA TH 1,149.1 (113.7) 509.1
WORKIVA INC 0WKA QT 1,149.1 (113.7) 509.1
WPF HOLDINGS INC WPFH US 0.0 (0.3) (0.3)
WW INTERNATIONAL WW US 1,032.3 (675.2) 24.8
WW INTERNATIONAL WW6 GR 1,032.3 (675.2) 24.8
WW INTERNATIONAL WW6 TH 1,032.3 (675.2) 24.8
WW INTERNATIONAL WTWEUR EU 1,032.3 (675.2) 24.8
WW INTERNATIONAL WW6 QT 1,032.3 (675.2) 24.8
WW INTERNATIONAL WW6 GZ 1,032.3 (675.2) 24.8
WW INTERNATIONAL WW6 SW 1,032.3 (675.2) 24.8
WW INTERNATIONAL WTW AV 1,032.3 (675.2) 24.8
WW INTERNATIONAL WTWEUR EZ 1,032.3 (675.2) 24.8
WW INTERNATIONAL WW-RM RM 1,032.3 (675.2) 24.8
WYNN RESORTS LTD WYR GR 13,336.3 (1,709.0) 2,517.1
WYNN RESORTS LTD WYNN* MM 13,336.3 (1,709.0) 2,517.1
WYNN RESORTS LTD WYNN US 13,336.3 (1,709.0) 2,517.1
WYNN RESORTS LTD WYR TH 13,336.3 (1,709.0) 2,517.1
WYNN RESORTS LTD WYR QT 13,336.3 (1,709.0) 2,517.1
WYNN RESORTS LTD WYNNEUR EU 13,336.3 (1,709.0) 2,517.1
WYNN RESORTS LTD WYR GZ 13,336.3 (1,709.0) 2,517.1
WYNN RESORTS LTD WYNNEUR EZ 13,336.3 (1,709.0) 2,517.1
WYNN RESORTS LTD WYNN-RM RM 13,336.3 (1,709.0) 2,517.1
WYNN RESORTS-BDR W1YN34 BZ 13,336.3 (1,709.0) 2,517.1
YUM! BRANDS -BDR YUMR34 BZ 6,071.0 (8,190.0) 201.0
YUM! BRANDS INC YUM US 6,071.0 (8,190.0) 201.0
YUM! BRANDS INC TGR GR 6,071.0 (8,190.0) 201.0
YUM! BRANDS INC TGR TH 6,071.0 (8,190.0) 201.0
YUM! BRANDS INC YUMEUR EU 6,071.0 (8,190.0) 201.0
YUM! BRANDS INC TGR QT 6,071.0 (8,190.0) 201.0
YUM! BRANDS INC YUM SW 6,071.0 (8,190.0) 201.0
YUM! BRANDS INC YUMUSD SW 6,071.0 (8,190.0) 201.0
YUM! BRANDS INC TGR GZ 6,071.0 (8,190.0) 201.0
YUM! BRANDS INC YUM* MM 6,071.0 (8,190.0) 201.0
YUM! BRANDS INC YUM AV 6,071.0 (8,190.0) 201.0
YUM! BRANDS INC YUMEUR EZ 6,071.0 (8,190.0) 201.0
YUM! BRANDS INC YUM-RM RM 6,071.0 (8,190.0) 201.0
*********
Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par. Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable. Those sources may not,
however, be complete or accurate. The Monday Bond Pricing table
is compiled on the Friday prior to publication. Prices reported
are not intended to reflect actual trades. Prices for actual
trades are probably different. Our objective is to share
information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy or
sell any security of any kind. It is likely that some entity
affiliated with a TCR editor holds some position in the issuers
public debt and equity securities about which we report.
Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than $3 per
share in public markets. At first glance, this list may look like
the definitive compilation of stocks that are ideal to sell short.
Don't be fooled. Assets, for example, reported at historical cost
net of depreciation may understate the true value of a firm's
assets. A company may establish reserves on its balance sheet for
liabilities that may never materialize. The prices at which
equity securities trade in public market are determined by more
than a balance sheet solvency test.
On Thursdays, the TCR delivers a list of recently filed
Chapter 11 cases involving less than $1,000,000 in assets and
liabilities delivered to nation's bankruptcy courts. The list
includes links to freely downloadable images of these small-dollar
petitions in Acrobat PDF format.
Each Friday's edition of the TCR includes a review about a book of
interest to troubled company professionals. All titles are
available at your local bookstore or through Amazon.com. Go to
http://www.bankrupt.com/books/to order any title today.
Monthly Operating Reports are summarized in every Saturday edition
of the TCR.
The Sunday TCR delivers securitization rating news from the week
then-ending.
TCR subscribers have free access to our on-line news archive.
Point your Web browser to http://TCRresources.bankrupt.com/and use
the e-mail address to which your TCR is delivered to login.
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S U B S C R I P T I O N I N F O R M A T I O N
Troubled Company Reporter is a daily newsletter co-published
by Bankruptcy Creditors Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Philadelphia, Pa., USA.
Randy Antoni, Jhonas Dampog, Marites Claro, Joy Agravante,
Rousel Elaine Tumanda, Joel Anthony G. Lopez, Psyche A. Castillon,
Ivy B. Magdadaro, Carlo Fernandez, Christopher G. Patalinghug, and
Peter A. Chapman, Editors.
Copyright 2023. All rights reserved. ISSN: 1520-9474.
This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without prior
written permission of the publishers. Information contained
herein is obtained from sources believed to be reliable, but is
not guaranteed.
The TCR subscription rate is $975 for 6 months delivered via
e-mail. Additional e-mail subscriptions for members of the same
firm for the term of the initial subscription or balance thereof
are $25 each. For subscription information, contact Peter A.
Chapman at 215-945-7000.
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