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

              Wednesday, December 13, 2023, Vol. 27, No. 346

                            Headlines

11824 OCEAN PARK: Court OKs Deal on Cash Collateral Access
25 JAY STREET: Taps Kucker Marino Winiarsky & Bittens as Counsel
2510 OCEAN: Seeks to Hire John Lehr P.C. as Bankruptcy Counsel
66 BARY LANE: Case Summary & Seven Unsecured Creditors
ACADEMIA SANTA: Seeks to Hire Tamarez CPA LLC as Accountant

ACCO BRANDS: Fitch Affirms 'BB' LongTerm IDR, Outlook Stable
ACE RESTORATION: Seeks to Hire Goe Forsythe & Hodges as Counsel
AERKOMM INC: Plans to Switch to Major US Stock Exchange
AMERICAN EAGLE: Unsecured Creditors to Split $12K Over 3 Years
ANAGRAM HOLDINGS: $22MM DIP Loan from GLAS Trust Has Final OK

ANAGRAM HOLDINGS: Hires Ankura Consulting as Financial Advisor
ANAGRAM HOLDINGS: Hires Simpson Thacher & Bartlett as Counsel
APPLIED DNA: Posts $10 Million Net Loss in FY Ended Sept. 30
APPS INC: Seeks to Hire Green & Sklarz as Bankruptcy Counsel
AQUAGRILLE LLC: Case Summary & 20 Largest Unsecured Creditors

ARCHES BUYER: Moody's Rates New $375MM Sr. Secured Term Loan 'B1'
ARCHES INTERMEDIATE: S&P Rates New $375MM Term Loan B 'B'
ARCITERRA WESTGATE: Involuntary Chapter 11 Case Summary
ASHFORD HOSPITALITY: Contributes $35M in Hotel Assets to Stirling
ASHFORD HOSPITALITY: Provides Update on Status of Loan Pools

AT CASTLETON: Involuntary Chapter 11 Case Summary
BARKER SLEEP: Voluntary Chapter 11 Case Summary
BARRETTS MINERALS: Comm. Taps Province LLC as Financial Advisor
BARRETTS MINERALS: Committee Hires Caplin & Drysdale as Counsel
BAYES CAPITAL: Mark Hall Named Subchapter V Trustee

BEACON STUDIO: Voluntary Chapter 11 Case Summary
BELLAREED CONSTRUCTION: Tamara Ogier Named Subchapter V Trustee
BENFIELD REAL ESTATE: Unsecureds Will Get 100% of Claims in Plan
BETHELITE COMMUNITY: Case Summary & Nine Unsecured Creditors
BOY SCOUTS: 2 Claimant Firms Get Clearance for Payment from Estate

BREAD FINANCIAL: Fitch Assigns 'BB-(EXP) Rating on Sr. Unsec. Notes
BREAD FINANCIAL: S&P Assigns 'BB-' LT Rating on Unsecured Notes
CANTON & COMPANY: Case Summary & 19 Unsecured Creditors
CAPREF LLOYD: Court OKs $650,000 DIP Loan from Keystone
CATALENT PHARMA: Moody's Rates New $500MM Incremental Loan 'Ba2'

CATALENT PHARMA: S&P Rates New $500MM First-Lien Term Loan 'BB-'
CD&R HYDRA: S&P Downgrades ICR to 'B-' on Nearing Maturities
CELSIUS NETWORK: Faces Legal Obstacles on Shift to Bitcoin Mining
CHARLESTON CHILDREN'S: Case Summary & 20 Top Unsecured Creditors
CHS INC: Fitch Assigns B+ Rating on Proposed First Lien Sec. Notes

CLINICAL TOXICOLOGY: Seeks to Hire Calaiaro Valencik as Counsel
COMMSCOPE HOLDING: Taps Moelis to Help With Debt Restructuring
COMMUNITY HEALTH: S&P Lowers ICR to 'SD' on Distressed Exchange
COMPLIANCE TESTING: Claims Will be Paid From Disposable Income
COMPLIANCE TESTING: Seeks to Hire Alt Key as Accountant

CRAWFISH WORLD: Jeanette McPherson Named Subchapter V Trustee
DIOCESE OF NEW ORLEANS: Committee Hires Kroll as Analyst
DMCC 450: Williston Park Condo Up for Auction on Dec. 29
EDGEWOOD FOOD: Hires Stonebridge Accounting as Accountant
EDGEWOOD FOOD: Taps Stonebridge Accounting as Forensic Accountant

EDWARD DON: S&P Withdraws 'B-' ICR on Acquisition by Sysco Corp
EIGHT COPELAND: Property Sale Proceeds to Fund Plan
ENVIVA INC: Records $103.9M Goodwill Impairment Charge in Q4 2023
EPIC CRUDE: S&P Hikes ICR to 'B' on Improved Financial Performance
EQUALTOX LLC: Hires Greines Martin Stein as Special Counsel

EVE FINANCIAL: Seeks to Hire Hayward PLLC as Bankruptcy Counsel
FARWAY MARINA: Seeks to Hire Doreen Greenwood as Real State Broker
FIRST QUALITY: Soneet Kapila Named Subchapter V Trustee
FREE SPEECH: Alex Jones Okayed to Sell Cars, Guns on Talk Shows
FREELAND PAINTING: Hires Paul Reece Marr as Bankruptcy Counsel

GAMESTOP CORP: Incurs $3.1MM Net loss in Third Quarter
GAUCHO GROUP: Grosses $870K From Private Placement of Common Shares
GAUCHO GROUP: Investor Converts Note Into Common Shares
GBT JERSEYCO: S&P Upgrades ICR to 'B+' on Rapid Deleveraging
GILBERT BARBEE: Amends Unsecured Tort Claims Pay Details

GOLD STAR: Hires employ Harlin Parker Attorneys as Counsel
GOURMET PLUS: Gina Klump Named Subchapter V Trustee
GRAND AUGUSTA: Voluntary Chapter 11 Case Summary
GUREEV LLC: Hires Aleinik Law Firm as Special Counsel
HAWAIIAN HOLDINGS: BlackRock Reports 11.4% Stake as of Nov. 30

HAWAIIAN HOLDINGS: Inks Merger Deal With Alaska Air Group
HCDI AT SEMIAHMOO: Voluntary Chapter 11 Case Summary
HCDI BRIDGE: Voluntary Chapter 11 Case Summary
HCDI FL CONDO: Voluntary Chapter 11 Case Summary
HELIX ENERGY: Inks Agreements to Repurchase $141MM of Senior Notes

HELLO BELLO: Hildred Capital to Purchase Company Out of Chapter 11
IAMGOLD CORP: Signs Agreement to Acquire Vanstar Resources
IBELIEVEINSWORDFISH: Case Summary & 16 Unsecured Creditors
IBIO INC: Receives $4.5M Gross Proceeds From Securities Offering
INFINITE BIDCO: Moody's Alters Outlook on 'B3' CFR to Negative

INNOPHOS HOLDINGS: Moody's Affirms 'B2' CFR, Outlook Stable
INTEGRATED CARE: Ongoing Operations to Fund Plan
IRONNET INC: US Trustee Wants "Opt Out" for 3rd Party Releases
J SUPOR REALTY: Secured Party Sets January Auction for Properties
KERF INC: Seeks to Hire Bradford Law Offices as Bankruptcy Counsel

KEVIN CONCANNON: Court OKs $5MM DIP Loan from Alleon
KIDDE-FENWAL: Saccullo & Kelley Update List of Government Claimants
KIDDE-FENWAL: Sale Process Okayed Despite Objections
KOMBU KITCHEN: Seeks to Hire Bent Caryl & Kroll as Special Counsel
KOMBU KITCHEN: Seeks to Hire Marcum LLP as Financial Advisor

LB LOGISTICS: Voluntary Chapter 11 Case Summary
LBU FRANCHISES: Tom Howley of Howley Law Named Subchapter V Trustee
LENDINGTREE INC: S&P Upgrades ICR to 'CCC+', Outlook Negative
LINDY INC: Voluntary Chapter 11 Case Summary
LIVINGSTON TOWNSHIP: Hires Heritage as Real Estate Broker

LOBSTER BOYS: Voluntary Chapter 11 Case Summary
LOBSTERBOYS CHICAGO: Voluntary Chapter 11 Case Summary
MEDICAL HEALING: Case Summary & Nine Unsecured Creditors
MERCURITY FINTECH: Announces $6M Private Placement Financing
MINI MANSION: Mark Shapiro Named Subchapter V Trustee

MOBIQUITY TECHNOLOGIES: Shares Suspended by Nasdaq
MS BEE'S POPCORN: Updates Unsecured Claims Pay; Files Amended Plan
NC GAS HOUSE: Hires Drescher & Associates as Bankruptcy Counsel
NEBRASKA HUMIC: James Overcash Named Subchapter V Trustee
NOGIN INC: Brown Rudnick & Lewis Brisbois Advise Ad Hoc Group

NOGIN INC: Gets Court Clearance to Tap $19.2 Million DIP Funds
ONEMAIN FINANCE: S&P Rates New $400MM Senior Unsecured Notes 'BB'
OPYS HOLDINGS: Unsecureds Will Get 4.44% of Claims in Plan
ORIGINCLEAR INC: Incurs $8.3 Million Net Loss in Third Quarter
OVAL SQUARED: Drew McManigle Named Subchapter V Trustee

PACIFIC RIDGE: Voluntary Chapter 11 Case Summary
PALACE AT WASHINGTON: Hires Meyer Law Group as Bankruptcy Counsel
PAX THERAPY: Seeks to Hire Hahn Fife & Company as Accountant
PENNSYLVANIA REAL ESTATE: Redwood, Nut Tree Extend $135MM DIP Loan
PENNYROYAL LOGISTICS: Unsecureds to Get $960 per Month for 5 Years

PERSIMMON HOLLOW: U.S. Trustee Appoints Creditors' Committee
PHUNWARE INC: Inks Acknowledgment and Agreement With Streeterville
PRIZE MANAGEMENT: Hires EJB Financial as Financial Monitor
PROVIDENT FUNDING: Moody's Cuts CFR to B2 & Unsecured Debt to B3
QUALITY IRON: U.S. Trustee Unable to Appoint Committee

RACHEL ONE: Seeks to Hire Samuels Accounting as Accountant
RACHEL ONE: Taps Biolsi Law Group as Special Appellate Counsel
RAP OPERATING: Amends Plan to Include Royalty Interests Claims Pay
REMARKABLE HEALTHCARE: Seeks to Tap Carrington Coleman as Counsel
RGV PUMP: Case Summary & 13 Unsecured Creditors

RISKON INTERNATIONAL: Nasdaq Rejects Plan to Regain Compliance
ROAD LION: Seeks to Hire Bush Law Firm as Bankruptcy Counsel
RYVYL INC: Investor Agrees to Push Back Note Repayment to 2025
S VALLEY VIEW: Hires Kaempfer Crowell LLP as Special Counsel
SADIE ROSE: Seeks to Tap Franklin Soto Leeds as Bankruptcy Counsel

SAFE HAVEN HEALTH: Takes Cigna Fight to 9th Circuit
SALO ENTERPRISE: Hires Vilarino & Associates LLC as Counsel
SAMSONITE INTERNATIONAL: S&P Alters Outlook to Pos, Affirms BB ICR
SAS AB: Anticipates to Complete Chapter 11 Process in June 2024
SB PROPERTY: Voluntary Chapter 11 Case Summary

SBG BURGER: Latham Luna Represents Two Landlords
SHIFT TECHNOLOGIES: Seeks to Hire Hilco IP Services as Consultant
SINTX TECHNOLOGIES: Stockholders Elect Two Directors
SIS TRUCKING: James Overcash Named Subchapter V Trustee
SMART EARTH: Hires Allen Matkins as General Bankruptcy Counsel

SMART EARTH: Seeks to Hire Ashby & Geddes as Delaware Counsel
SMART EARTH: Seeks to Hire Stretto Inc. as Administrative Advisor
SMART EARTH: Seeks to Hire Verdolino & Lowey as Accountant
SMART EARTH: Taps Donald Van der Wiel of G2 Capital as CRO
SPROUT MORTGAGE: Trustee Hires Alvarez as Financial Advisor

SUMMIT SPRINGS: Seeks to Hire Chouhan Law Firm as Special Counsel
SUNLIGHT FINANCIAL: Emerges From Restructuring Process
SUPOR PROPERTIES: Trustee Taps Sharer Petree Brotz as Accountant
SWF HOLDINGS I: Moody's Lowers CFR to Caa1, Outlook Negative
SYSTEM1 INC: BGPT Trebia, 2 Others Hold 6.8% of Class A Shares

SYSTEM1 INC: Cannae Holdings Holds 41.1% of Class A Shares
SYSTEM1 INC: William Foley II Holds 5.9% of Class A Shares
TERRESTRIAL BREWING: Seeks to Hire Jonathan Blakely as Attorney
THOMAS ORTHODONTICS: William Wallo Named Subchapter V Trustee
TRAVEL + LEISURE: S&P Assigns 'BB-' Rating on Secured Term Loan B

TRINITY PLACE: Macquarie PF Extends Forbearance Period to Dec. 20
TRINITY PLACE: Non-Compliant with NYSE's Listing Standards
UNIVERSITY SQUARE: Court OKs $185,000 DIP Loan from UMB Bank
VARDAN LLC: Unsecureds Will Get 2% of Claims in Sale Plan
WALGREENS BOOTS: Moody's Gives 'Ba2' CFR, Outlook Stable

WEWORK INC: Cushman & Wakefield Wants Maintenance Deal Decision
WEWORK INC: Names Claudio Hidalgo as Chief Operating Officer
WYNN RESORTS: Moody's Affirms 'B1' CFR & Alters Outlook to Stable
YELLOW CORP: Approved for $1.88-Bil. Sale to Multiple Buyers
ZIPRECRUITER INC: Moody's Affirms 'B1' CFR, Outlook Remains Stable


                            *********

11824 OCEAN PARK: Court OKs Deal on Cash Collateral Access
----------------------------------------------------------
11824 Ocean Park Partners LLC and the Calcap Income Fund I, LLC
sought and obtained entry of an order from the U.S. Bankruptcy
Court for the Central District of California, Los Angeles Division,
authorizing the Debtor's use of cash collateral in accordance with
their agreement for the period from October 3, 2023 to January 31,
2024.

CALCAP asserts that it holds liens against property of the Debtor's
estate.

On July 23, 2021, CALCAP's predecessor and Debtor entered into the
Loan and Security Agreement. Pursuant to the Loan Agreement,
CALCAP's predecessor agreed to extend credit to Debtor upon terms
and conditions contained in the Loan Agreement. CALCAP's
predecessor extended a construction loan to Debtor in the maximum
principal amount of $4.350 million, which is evidenced by the
Secured Note dated July 23, 2021.

To secure the obligations owed to CALCAP under the Note and Loan
Agreement, the Debtor executed the Deed of Trust, Assignment of
Leases and Rents, Fixture Filing and Security Agreement, which
encumbers the real property commonly known as 11824 Ocean Park
Blvd, Los Angeles, California 90064 with a first-priority lien.
Pursuant to the Loan Agreement and Deed of Trust, the Debtor also
pledged all of the personal property of the Debtor associated with
the Property and its construction. The Deed of Trust was recorded
on July 29, 2021 as Instrument No. 20211166936 in the Official
Records of Los Angeles County.

The Debtor may not exceed the Budget on a monthly basis for any
disbursement category by more than 15%, as proposed in the Motion.
The 15% variance will be measured on a cumulative basis, with any
savings or deficits carried forward to the next period.

CALCAP will be granted a perfected and enforceable replacement lien
in all of the Debtor's post-petition assets, cash collateral and
DIP Accounts now owned or hereafter acquired by the Debtor. The
replacement lien granted to CALCAP will secure replacement to
CALCAP of the actual amount of cash collateral utilized by Debtor
in the period subsequent to the Petition Date. The replacement lien
will be of the same validity, order of priority, nature and extent
as any duly perfected and unavoidable pre-petition liens described
in the recitals above held by CALCAP as of the Petition Date.

As adequate protection to CALCAP for the use of its cash collateral
during the interim period covered by the Stipulation, the Debtor
agrees to pay CALCAP the adequate protection payments set forth in
the Budget on the first day each month.

Notwithstanding the foregoing, if the Bankruptcy Court later
determines that the adequate protection payments provided by the
Debtor under the Budget and the Stipulation do not adequately
protect CALCAP for the use of its cash collateral, CALCAP will be
granted an administrative claim under 11 U.S.C. Section 507(b) to
the extent of any shortfall in adequate protection payments as
determined by the Bankruptcy Court.

The Debtor's rights to use cash collateral will terminate upon the
occurrence of any of the following events:

a. The Court's determination that the Debtor committed an event of
Default that was not timely cured;
b. Entry of an order (i) granting any creditor other than CALCAP
relief from the automatic stay to exercise any rights which may
impair CALCAP's collateral under any of the Loan Documents, (ii)
converting the case to Chapter 7, (iii) dismissing the case, or
(iv) appointing a trustee; and
c. Debtor's failure to maintain insurance as required above.

A continued hearing on the matter is set for February 22, 2024 at
11:30 a.m.

A copy of the stipulation is available at
https://urlcurt.com/u?l=QM1fc7 from PacerMonitor.com.

A copy of the order is available at https://urlcurt.com/u?l=3MGFIJ
from PacerMonitor.com.

              About 11824 Ocean Park Partners, LLC

11824 Ocean Park Partners LLC in Los Angeles, CA, filed its
voluntary petition for Chapter 11 protection (Bankr. C.D. Cal. Case
No. 23-16465) on October 3, 2023, listing as much as $1 million to
$10 million in both assets and liabilities. Ronald L. Meer as
president of Bear Capital Partners, Inc., the Managing Member of
Ocean Park Manager, LLC, the Managing Member of the Debtor, signed
the petition.

Judge Deborah J. Saltzman oversees the case.

RHM LAW, LLP serve as the Debtor's legal counsel.


25 JAY STREET: Taps Kucker Marino Winiarsky & Bittens as Counsel
----------------------------------------------------------------
25 Jay Street LLC seeks approval from the U.S. Bankruptcy Court for
the Eastern District of New York to employ Kucker Marino Winiarsky
& Bittens, LLP as its bankruptcy counsel.

The firm's services include:

     (a) providing advice to the Debtor with respect to its powers
and duties under the Bankruptcy Code in the continued operation of
its business and the management of its property;

     (b) negotiating with creditors of the Debtor, preparing a plan
of reorganization and taking the necessary legal steps to
consummate a plan, including, if necessary, negotiations with
respect to financing a plan;

     (c) appearing before the various taxing authorities to work
out a plan to pay taxes owing in installments;

     (d) preparing legal documents;

     (e) appearing before the bankruptcy court; and

     (f) providing other necessary legal services.

The firm will be paid at the rate of $560 per hour and will be
reimbursed for out-of-pocket expenses incurred..

Kucker received from the Debtor a retainer of $20,000, inclusive of
$1,738 filing fee.

Joel Shafferman, Esq., a partner at Kucker, disclosed in a court
filing that his firm is a "disinterested person" as the term is
defined in Section 101(14) of the Bankruptcy Code.

The firm can be reached at:

     Joel M. Shafferman, Esq.
     Kucker Marino Winiarsky & Bittens, LLP
     737 Third Avenue
     New York, NY 10017
     Tel: (212) 869-5030
     Email: jshafferman@kuckermarino.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.


2510 OCEAN: Seeks to Hire John Lehr P.C. as Bankruptcy Counsel
--------------------------------------------------------------
2510 Ocean LLC seeks approval from the U.S. Bankruptcy Court for
the Eastern District of New York to employ John Lehr, P.C. as its
bankruptcy counsel.

The firm will render these services:

     (a) give the Debtor guidance with respect to its power and
responsibility as a debtor-in-possession in the continued
management of its property;

     (b) attend creditors' meetings and Section 341 hearings;

     (c) negotiate with creditors of the Debtor in formulating a
plan of reorganization and to take the necessary legal steps in
order to institute plans of reorganization

     (d) aid the Debtor in the preparation and drafting of
disclosure statement;

     (e) prepare on behalf of the Debtor, all necessary petitions,
reports, applications, orders and other legal papers;

     (f) appear before the U.S. Bankruptcy Court and to represent
the Debtor in all matters pending before said Court; and

     (g) perform all legal services that may be necessary and
appropriate.

John Lehr will be paid at the hourly rate of $350.

John Lehr will be paid a retainer in the amount of $10,000.

John Lehr will also be reimbursed for reasonable out-of-pocket
expenses incurred.

John Lehr, principal of John Lehr, P.C., assured the Court that the
firm is a "disinterested person" as the term is defined in Section
101(14) of the Bankruptcy Code and does not represent any interest
adverse to the Debtor and its estates.

John Lehr can be reached at:

      John Lehr, Esq.
      JOHN LEHR, P.C.
      1979 Marcus Avenue, Suite 210
      New Hyde Park, NY 11042
      Tel: (516) 200-3523
      Email: jlehr@johnlehrpc.com

              About 2510 Ocean LLC

2510 Ocean is a Single Asset Real Estate debtor (as defined in 11
U.S.C. Section 101(51B)).

2510 Ocean LLC filed its voluntary petition for relief under
Chapter 11 of the Bankruptcy Code (Bankr. E.D.N.Y. Case No.
23-43471) on September 27, 2023. The petition was signed by Danny
Wu as president. At the time of filing, the Debtor estimated $1
million to $10 million in assets and up to $50,000 in liabilities.

Judge Jil Mazer-Marino presides over the case.

John Lehr, Esq. at John Lehr, P.C. represents the Debtor as
counsel.


66 BARY LANE: Case Summary & Seven Unsecured Creditors
------------------------------------------------------
Debtor: 66 Bary Lane, LLC
        2597 Flagstone Drive
        San Jose, CA 95132

Business Description: The Debtor is the owner of a single family
                      residence located at 66 Barry Lane,
                      Atherton, California, valued at $22.5
                      million.

Chapter 11 Petition Date: December 11, 2023

Court: United States Bankruptcy Court
       Northern District of California

Case No.: 23-51443

Judge: Hon. M. Elaine Hammond

Debtor's Counsel: Brent D. Meyer, Esq.
                  MEYER LAW GROUP, LLP
                  268 Bush Street #3639
                  San Francisco, CA 94104
                  Tel: (415) 765-1588
                  Fax: (415) 762-5277
                  Email: brent@meyerllp.com

Total Assets: $22,632,900

Total Liabilities: $16,035,494

The petition was signed by Michael Ohayon as manager.

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

https://www.pacermonitor.com/view/V7RFKFQ/66_Bary_Lane_LLC__canbke-23-51443__0001.0.pdf?mcid=tGE4TAMA

List of Debtor's Seven Unsecured Creditors:

   Entity                          Nature of Claim    Claim Amount

1. 2700 Middlefield              Asserted Litigation            $0
Road, LLC                               Claims
66 Barry Lane
Atherton, CA 94027

2. Alviso Park, LLC              Asserted Litigation            $0
66 Barry Lane                           Claims
Atherton, CA 94027

3. Ferrando Diversified          Asserted Litigation            $0
Capital, LLC                            Claims
66 Barry Lane
Atherton, CA 94027

4. Gail Teymourian               Asserted Litigation            $0
125 Greenley Road                       Claims
New Canaan, CT
06840

5. Iraj Teymourian               Asserted Litigation            $0
66 Barry Lane                           Claims
Atherton, CA 94027

6. Mehrangiz Teymourian          Asserted Litigation            $0
66 Barry Lane                           Claims
Atherton, CA 94027

7. Nariman Teymourian            Asserted Litigation            $0
125 Greenley Road                       Claims
New Canaan, CT 06840


ACADEMIA SANTA: Seeks to Hire Tamarez CPA LLC as Accountant
-----------------------------------------------------------
Academia Santa Teresita De Naranjito, Inc. seeks approval from the
U.S. Bankruptcy Court for the District of Puerto Rico to employ
Tamarez CPA, LLC as accountant.

The firm will render these services:

     a) reconcile financial information to assist the Debtor in the
preparation of monthly operating reports;

     b) assist in the reconciliation and clarification of proofs of
claim filed and amount due to creditors;

     c) provide general accounting and tax services to prepare
quarterly and year-end reports and income tax; and

     d) assist in the preparation of the supporting documents for
the Chapter 11 reorganization plan, including negotiation with
creditors.

Tamarez CPA will charge these hourly fees:

     Albert Tamarez-Vasquez, CPA, CIRA    $165 per hour
     CPA Supervisor                       $110 per hour
     Senior Accountant                    $90 per hour
     Staff Accountant                     $70 per hour

The firm received a post-petition retainer in the amount of
$4,000.

Albert Tamarez Vasquez, CPA, owner of Tamarez CPA, 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:
   
     Albert Tamarez Vasquez, CPA
     Tamarez CPA, LLC
     1519 Ave. Ponce De Leon, Suite 412
     San Juan, PR 00909
     Telephone: (787) 795-2855
     Facsimile: (787) 200-7912
     Email: atamarez@tamarezcpa.com

        About Academia Santa Teresita De Naranjito, Inc.

Academia Santa Teresita De Naranjito, Inc., filed a Chapter 11
bankruptcy petition (Bankr. D.P.R. Case No. 23-03352) on October
17, 2023, disclosing under $1 million in both assets and
liabilities.

The Debtor is represented by Licenciado Carlos Alberto Ruiz, LLC.


ACCO BRANDS: Fitch Affirms 'BB' LongTerm IDR, Outlook Stable
------------------------------------------------------------
Fitch Ratings has affirmed all of ACCO Brands Corporation (ACCO)'s
ratings, including its Long-Term Issuer Default Rating (IDR) at
'BB', its senior secured revolving credit facility and term loan
(which is co-borrowed by ACCO Brands Australia Holding Pty Limited)
at 'BBB-'/'RR1', and its senior unsecured notes at 'BB'/'RR4'. The
Rating Outlook remains Stable.

ACCO's ratings reflect the company's historically consistent FCF,
which it has used to reduce debt and maintain reasonable EBITDA
leverage over the past several years. Fitch expects ACCO's leverage
will trend below 4x across the rating horizon, and that the company
will continue to generate good FCF. The rating and Outlook are,
however, constrained by secular challenges in the office products
industry, channel shifts within the company's customer mix, and
reflects recent top line weakness related to spending pullbacks in
key discretionary categories like electronics, which Fitch expects
to continue into 2024.

KEY RATING DRIVERS

Revenue Under Pressure: Fitch expects ACCO's sales will decline to
around $1.82 billion in 2023, and again by low single digits in
2024, compared to sales that averaged around $1.95 billion between
2017 and 2019. Some of ACCO's segments and geographies performed
well in 2023; however, it has faced lower demand in North America
especially for some of its technology products (such as desktop and
mobile device accessories and video game system accessories) due to
the slow pace of workers returning to the office, consumer softness
and lack of new console releases.

Fitch expects that the soft demand in ACCO's technology segments
and more conservative ordering from retailers could persist in
2024. The potential release and refresh of new gaming systems
towards the end of 2024 and into 2025, combined with improving
macro conditions could drive modest revenue growth over the medium
term, however the slow pace of return to office and the acceptance
of remote work over the longer term could limit ACCO's ability to
fully rebound toward pre-pandemic revenue levels.

Improved EBITDA Margin: ACCO's margins have improved significantly
through the first three quarters of 2023, through a blend of
pricing actions, cost efficiencies and restructuring. Fitch expects
that the company's EBITDA margin could improve to the mid 13% range
in 2023 compared to 11.5% in 2022, leading to EBITDA in the $240
million range. Despite recent improvements, EBITDA remains below
pre-pandemic levels of around $300 million between 2017-2019 and
margins of around 15% between 2017-2019.

Over the past several years, like many consumer goods companies,
ACCO has been impacted by variability in consumer demand and an
unprecedented increase in costs. While the company continues to
focus on finding cost efficiencies, and could continue to achieve
modest EBITDA expansion, Fitch expects ACCO's margins will remain
below pre-pandemic levels over the next several years.

Leverage to Trend Lower: Fitch expects ACCO's EBITDA leverage will
trend below 4x across the rating horizon, supported by debt
reduction and EBITDA expansion. ACCO's EBITDA leverage could
decline to around 3.8x in 2023 compared to 4.5x in 2022, and could
trend in the mid to high 3x range in 2024. The company repaid
around $130 million of debt between 2021 and the first three
quarters of 2023, and Fitch believes ACCO could continue to use FCF
to reduce debt.

ACCO's good balance sheet management is a positive factor in its
credit profile. While the company occasionally makes debt-financed
acquisitions to optimize its portfolio, it has demonstrated a
willingness and ability to manage its leverage through debt
reduction following a transaction, in line with its public
commitment to maintain net debt to EBITDA at approximately 2.5x —
similar on a gross leverage basis given minimal cash balances.
Prior to the pandemic, EBITDA leverage over the long term ranged
between the high 2x range and the high 3x range.

Limited Organic Industry Growth: The office products industry is
experiencing a slow secular decline in mature markets due to a
shift toward digital technologies, partially offset by growth in
emerging markets. ACCO is also managing a continued shift in
channel revenue away from traditional office product superstores,
such as Staples and Office Depot, and traditional office supply
wholesalers toward discounters, e-commerce retailers and the
independent channel. These customers also increased their direct
sourcing efforts to grow private-label penetration, creating more
competition for ACCO's largely branded product portfolio.

While ACCO benefits from its market-leading position, the company
has been affected by industry pressures with North American revenue
(51% of net revenue in 2022) down 1.5% on a four-year CAGR basis
heading into the pandemic (2015-2019).

Given secular challenges the company has acquired several
businesses over the last several years to capitalize on growth in
new markets and faster-growing adjacent categories. The
acquisitions contributed to ACCO's revenue growth and margin
expansion heading into the pandemic due to greater scale, and
improved geographic and customer diversity.

The purchase of PowerA in late 2020 is an example of ACCO
diversifying its categories and adding a category with
higher-growth potential to its business portfolio. Supply chain
issues affecting the broader consumer electronics sector weighed on
growth at the unit in 2022, while lower demand in part driven by a
lack of new systems and system refreshes weighed on the segment in
2023, however console system refreshes could support modest growth
beginning in 2025.

DERIVATION SUMMARY

ACCO is similarly rated to Central Garden & Pet Company (CENT,
BB/Stable) and Spectrum Brands, Inc. (Spectrum, BB/Negative), rated
a notch below Tempur Sealy International, Inc. (BB+/RWN) and
Mattel, Inc. (Mattel; BB+/Positive). ACCO and CENT have similar
leverage and scale, however ACCO is smaller than higher rated peers
Tempur Sealy and Mattel. While ACCO and Spectrum are similar in
scale, Fitch expects Spectrum's leverage will be elevated in 2023
and 2024. ACCO's EBITDA leverage is expected to remain higher than
Mattel and potentially similar to Tempur Sealy depending on the
outcome of its proposed acquisition. ACCO's rating also takes into
consideration the secular pressures that it faces as a result of
its end market exposure to the office products category.

KEY ASSUMPTIONS

- Revenue down in the mid 6% range in 2023, with lower consumer
demand being partially offset by price increases in certain
regions. Revenue in 2024 could continue to decline in the low
single digit percentage range, driven by soft demand, with a modest
recovery possible in 2025 and thereafter;

- EBITDA margins improve to the mid 13% in 2023 compared to 11.5%
in 2022 driven by focus on expense management and price increase.
Margins could return to approximately 14% over the medium term,
supporting EBITDA expansion.

- FCF after dividends in the $90 million to low $100 million range
in 2023, largely in line with historical levels. FCF generation in
2024 and thereafter could be similar to 2023. In the absence of
acquisitions, Fitch expects ACCO will deploy FCF toward a
combination of debt reduction and share repurchases;

- Gross debt/EBITDA of around 3.8x in 2023, compared 4.5x in 2022.
Absent leveraging acquisitions, further improvement to the mid- to
low-3x range is possible in 2024 and thereafter due to EBITDA
expansion and continued debt paydown.

RATING SENSITIVITIES

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

- An upgrade beyond 'BB' is possible if the company makes favorable
acquisitions that change its business mix toward less-cyclical or
higher-growth prospects while maintaining EBITDA leverage below
3.0x. However, an upgrade is not anticipated in the near term given
the existing business model and industry issues.

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

- Sustained EBITDA leverage above 4.0x, a material reduction in
FCF, and/or a large debt-financed acquisition without a concrete
plan to reduce EBITDA leverage to 4.0x in 24 months could lead to a
negative rating action;

- An acceleration of revenue declines in North America leading to
long-term concerns about business model sustainability.

LIQUIDITY AND DEBT STRUCTURE

Adequate Liquidity: ACCO's liquidity is adequate, supported by its
consistent FCF generation that is seasonally skewed to the second
half of the year. As of Sept. 30, 2023, ACCO had $73.7 million of
cash on hand and $522.8 million of revolver availability, net of
$9.6 million outstanding LOCs and $67.6 million of revolver
borrowings.

ACCO had $969.4 million of debt outstanding as of Sept. 30, 2023,
consisting primarily of a $212.9 million euro senior secured term
loan A, $79.8 million outstanding on the U.S. dollar senior secured
term loan A, $31.3 million under the Australian dollar senior
secured term loan A and $67.6 million of revolver borrowings, all
of which mature in March 2026. There is also $575.0 million of
unsecured notes due March 2029. Annual amortization across ACCO's
capital structure is approximately $35 million. ACCO has a publicly
stated net leverage target of 2.5x and has historically applied a
portion of FCF toward debt reduction, which Fitch expects will
continue.

In November 2022, ACCO amended its bank credit agreement by
increasing its maximum consolidated leverage ratio financial
covenant (funded debt net of cash to EBITDA) to 5.00x, 5.00x,
4.75x, and 4.25x for the four quarters beginning in 1Q23,
respectively. Beginning in 2024, the covenant is set at 4.50x for
the first and second quarters, and 4.00x for the third and fourth
quarters.

Fitch assigned Recovery Ratings (RRs) to the various debt tranches
in accordance with Fitch criteria, which allows for the assignment
of RRs for issuers with IDRs in the 'BB' category. Given the
distance to default, RRs in the 'BB' category are not computed by
bespoke analysis. Instead, they serve as a label to reflect an
estimate of the risk of these instruments relative to other
instruments in the entity's capital structure. Fitch rates ACCO's
first-lien secured debt two notches above the IDR, reflecting
outstanding recovery prospects (91%-100%) given default (RR1).
Unsecured debt will typically achieve average recovery, and thus
was assigned an 'RR4', or 31%-50% recovery.

ISSUER PROFILE

ACCO Brands is one of the world's largest designers, marketers and
manufacturers of branded academic, consumer and business products.
The product portfolio includes a number of well-known brands,
including Swingline, Five Star, Mead, AT-A-GLANCE, Kensington,
PowerA, GBC, Tilibra, Leitz and Rapid.

SUMMARY OF FINANCIAL ADJUSTMENTS

Historical EBITDA has been adjusted for stock-based compensation,
transaction & integration expenses and other items.

ESG CONSIDERATIONS

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

   Entity/Debt                  Rating         Recovery   Prior
   -----------                  ------         --------   -----
ACCO Brands Australia
Holding Pty Limited

   senior secured         LT     BBB- Affirmed   RR1      BBB-

ACCO Brands Corporation   LT IDR BB   Affirmed            BB

   senior unsecured       LT     BB   Affirmed   RR4      BB

   senior secured         LT     BBB- Affirmed   RR1      BBB-


ACE RESTORATION: Seeks to Hire Goe Forsythe & Hodges as Counsel
---------------------------------------------------------------
Ace Restoration & Construction Inc. seeks approval from the U.S.
Bankruptcy Court for the Central District of California to hire Goe
Forsythe & Hodges, LLP as its bankruptcy counsel.

The Debtor requires legal counsel to:

     a. advise and assist the Debtor with respect to compliance
with the requirements of the Office of the U.S. Trustee;

     b. advise the Debtor regarding matters of bankruptcy law,
including the rights and remedies of Debtor with respect to its
assets and claims of creditors;

     c. represent the Debtor in any proceedings or hearings in the
bankruptcy court and in any action in any other court where its
rights under the Bankruptcy Code may be litigated or affected;

     d. conduct examinations of witnesses, claimants or adverse
parties, and assist in the preparation of reports, accounts, and
pleadings related to the case;

     e. advise the Debtor concerning the requirements of the
Bankruptcy Code and applicable rules;

     f. assist the Debtor in negotiation, formulation,
confirmation, and implementation of a Chapter 11 plan of
reorganization;

     g. make any bankruptcy court appearances on behalf of the
Debtor; and

     h. perform such other services as the Debtor may require of
the firm in connection with its Chapter 11 case.

The firm will be paid at these rates:

     Attorneys    $375 to $595 per hour
     Of Counsel   $450 to $625 per hour
     Paralegals   $185 to $195 per hour

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

The firm received a pre-bankruptcy retainer of $7,500.

Marc Forsythe, Esq., a partner at Goe Forsythe & Hodges, disclosed
in a court filing that his firm is a "disinterested person" as the
term is defined in Section 101(14) of the Bankruptcy Code.

The firm can be reached at:

     Marc C. Forsythe, Esq.
     GOE FORSYTHE & HODGES, LLP
     17701 Cowan, Suite 210
     Irvine, CA 92614
     Tel: (949) 798-2460
     Fax: (949) 955-9437
     Email: mforsythe@goeforlaw.com

           About Ace Restoration & Construction

Ace Restoration & Construction Inc. sought protection for relief
under Chapter 11 of the Bankruptcy Code (Bankr. C.D. Cal. Case No.
23-15170) on Nov. 3, 2023, listing under $1 million in both assets
and liabilities.  

Judge Scott H Yun oversees the case.

Marc C Forsythe, Esq. at Goe Forsythe & Hodges LLP represents the
Debtor as counsel.


AERKOMM INC: Plans to Switch to Major US Stock Exchange
-------------------------------------------------------
AERKOMM Inc, announced it has signed a Letter of Intent with a
US-listed SPAC, a publicly traded special purpose acquisition
company, regarding a business combination which would see AERKOMM
transitioning its listing to a major US stock market exchange.

Highlights

   * Proposed business combination between the SPAC and AERKOMM
contemplates valuing AERKOMM at US $300 million to US $400 million
in stock, inclusive of US $150 million to US $200 million of
contingent value, also in stock, tied to earn-out provisions.

   * AERKOMM has established strong engagement with leading
satellite constellation operators spanning multiple orbits
including low-earth orbit (LEO), medium-earth orbit (MEO),
geosynchronous equatorial orbit (GEO) and highly elliptical orbit
(HEO).

   * AERKOMM is building relationships with both public and private
sector clients who have expressed interest in the multi-beam,
multi-orbit and multi-channel satellite communications solutions
under development.

   * Business combination would result in major satellite
communication solutions provider being listed on a major US stock
market exchange.

Louis Giordimaina, AERKOMM Chief Executive commented:

"We have developed a range of next generation satellite
communications technologies which are a game changer in the rapidly
growing industry sector.

"By expanding our business focus from the inflight entertainment
and communication market to the surging network resilience market,
we are providing revolutionary cost-effective satellite services in
the aviation, mobility and terrestrial network markets.

"A switch to a US listing is a unique opportunity for us.  With the
resources and industry expertise that the SPAC brings, we will be
in a much stronger position to capture the rapid growth in the
expanding satellite technology communications market serving
customers in both the public and private sector."

Potential Transaction

The terms of the LOI between AERKOMM and the SPAC listed on a major
US stock market exchange, contemplate a business combination in
which the SPAC or its successor public entity acquiring 100% of the
outstanding equity and equity equivalents of AERKOMM for stock
(including options, warrants and other securities that have the
right to acquire or convert into equity securities of the Company).
The result will be AERKOMM switching its listing to the major US
stock market exchange where the SPAC trades today.

The transaction structure will be determined by the parties based
on the due diligence findings as well as business, legal,
accounting and other considerations.  The LOI is not binding in its
entirety and there is no obligation to consummate or even agree to
a definitive agreement for the transaction.

Specific terms of the proposed transaction are not finalized yet,
including the total amount of capital secured for AERKOMM's
operations, the proportion of the total all-stock consideration
offered to AERKOMM and its current shareholder base received at
closing, and the proportion of the SPAC sponsor's promote vested at
closing.  Subject to confirmatory due diligence, the LOI
contemplates a pre-money valuation for AERKOMM between US $300
million to $400 million in stock, inclusive of US $150 million to
US $200 million of contingent value, also in stock, tied to
earn-out provisions.

Shareholders of AERKOMM who are officers, directors and employees
holding five percent or more of the Company's equity securities
will be required to subject their transaction shares to a lock-up
for a period substantially identical to the lock-up applicable to
the SPAC Sponsor, with respect to its founder shares.

A common equity fundraise is contemplated to be secured by AERKOMM
in connection with the proposed transaction.  Signed commitments
for the fundraise on terms and conditions reasonably acceptable to
the SPAC shall be secured by the AERKOMM prior to or materially
concurrent to the signing of the definitive agreements between the
parties.  In the event that such commitments are not secured at
that time, the SPAC may waive or otherwise postpone this
requirement at its sole discretion.

The proposed transaction is subject to further due diligence and
other customary closing conditions.  There is no guarantee that the
proposed transaction will result in a definitive agreement being
announced or being announced on the current contemplated terms.

                          About Aerkomm

Headquartered in Nevada, USA, Aerkomm Inc. --
http://www.aerkomm.com-- is a full-service development stage
provider of in-flight entertainment and connectivity (IFEC)
solutions, intended to provide airline passengers with a broadband
in-flight experience that encompasses a wide range of service
options.  Those options include Wi-Fi, cellular, movies, gaming,
live TV, and music.  The Company plans to offer these core
services, which it is currently still developing, through both
built-in in-flight entertainment systems, such as a seat-back
display, as well as on passengers' own personal devices.

Aerkomm reported a net loss of $11.88 million in 2022, a net loss
of $9.38 million in 2021, a net loss of $9.11 million in 2020, a
net loss of $7.98 million in 2019, and a net loss of $8.15 million
in 2018. As of June 30, 2023, the Company had $70.15 million in
total assets, $50.22 million in total liabilities, and $19.93
million in total stockholders' equity.


AMERICAN EAGLE: Unsecured Creditors to Split $12K Over 3 Years
--------------------------------------------------------------
American Eagle Decorating, Inc., filed with the U.S. Bankruptcy
Court for the Middle District of Florida a First Amended Plan of
Reorganization dated December 4, 2023.

The Debtor is full-service commercial painting company, that serves
the Central Florida area, headquartered in Orlando, Florida. The
Debtor's principal place of business is located at 6439 Milner
Blvd, Ste 2, Orlando, FL 32809, which is leased from Holly
Investments, LTD., Landlord of the Debtor.  

This Plan provides for: 3 classes of secured claims; 1 class of
unsecured claims; and 1 class of equity security holders.

Class 4 consists of the Allowed Unsecured Claims against the
Debtor. This Class is Impaired.

     * Consensual Plan Treatment: The liquidation value or amount
that unsecured creditors would receive in a hypothetical chapter 7
case is approximately $0.00. Accordingly, the Debtor proposes to
pay unsecured creditors a pro rata portion of $12,000.00. Payments
will be made in equal quarterly payments of $1,000.00. Payments
shall commence on the fifteenth day of the month, on the first
month that begins more than fourteen days after the Effective Date
and shall continue quarterly for eleven additional quarters.
Pursuant to Section 1191 of the Bankruptcy Code, the value to be
distributed to unsecured creditors is greater than the Debtor's
projected disposable income to be received in the 3-year period
beginning on the date that the first payment is due under the plan.
Holders of Class 4 claims shall be paid directly by the Debtor.

     * Nonconsensual Plan Treatment: The liquidation value or
amount that unsecured creditors would receive in a hypothetical
chapter 7 case is approximately $0.00. Accordingly, Debtor proposes
to pay unsecured creditors a pro rata portion of $760.00, its
projected Disposable Income. If the Debtor remains in possession,
plan payments shall include the Subchapter V Trustee’s
administrative fee which will be billed hourly at the Subchapter V
Trustee's then current allowable blended rate. Plan Payments shall
commence on the fifteenth day of the month, on the first month that
is ninety days after the Effective Date and shall continue
quarterly for two additional years. The initial estimated quarterly
payment shall be $0.00. Holders of Class 4 claims shall be paid
directly by the Debtor.

Class 5 consists of any and all equity interests and warrants
currently issued or authorized in the Debtor. This Class is
Unimpaired. Holders of a Class 5 interests shall retain their full
equity interest in the same amounts, percentages, manner and
structure as existed on the Petition Date.

The Plan contemplates that the Reorganized Debtor will continue to
operate the Debtor's business.

Except as explicitly set forth in this Plan, all cash in excess of
operating expenses generated from operation until the Effective
Date will be used for Plan Payments or Plan implementation, cash on
hand as of Confirmation shall be available for Administrative
Expenses.

A full-text copy of the First Amended Plan dated December 4, 2023
is available at https://urlcurt.com/u?l=LKBG4P from
PacerMonitor.com at no charge.

Counsel for the Debtor:

     Jeffrey S. Ainsworth, Esq.
     Jacob D. Flentke, Esq.
     BransonLaw, PLLC
     1501 East Concord Street
     Orlando, Florida 32803
     Telephone: (407) 894-6834
     Facsimile: (407) 894-8559
     E-mail: jeff@bransonlaw.com
     E-mail: jacob@bransonlaw.com

                      About American Eagle

American Eagle Decorating, Inc., is full-service commercial
painting company, that serves the Central Florida area.

The Debtor filed a petition under Chapter 11, Subchapter V of the
Bankruptcy Code (Bankr. M.D. Fla. Case No. 23-03213) on Aug. 9,
2023, with as much as $50,000 in assets and $100,001 to $500,000 in
liabilities.

Judge Lori V. Vaughan oversees the case.

Jeffrey Ainsworth, Esq., at Bransonlaw, PLLC, serves as the
Debtor's bankruptcy counsel.


ANAGRAM HOLDINGS: $22MM DIP Loan from GLAS Trust Has Final OK
-------------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of Texas,
Houston Division, authorized Anagram Holdings, LLC and Anagram
International, Inc. to use cash collateral and obtain postpetition
financing, on a final basis.

The Debtors obtained postpetition financing pursuant to a senior
secured, superpriority and priming debtor-in-possession note
purchase agreement, consisting of new money notes in an aggregate
principal amount of $22 million from the DIP Noteholders, of which
$10 million was made available immediately upon entry of the
Interim Order, and the remainder will be available subject to and
upon the date of entry of the Final Order.

GLAS Trust Company LLC serves as trustee and collateral agent under
the DIP facilities.

The Debtor also obtained a first lien, asset-based lending facility
in an aggregate principal amount of up to $15 million, subject to a
borrowing base and a gradual "roll-up" of the Prepetition ABL
Obligations from certain collections of ABL Priority Collateral,
pursuant to the terms of the Interim Order, subject to the ability
of the DIP Issuers to re-borrow thereunder in accordance with the
terms of the DIP ABL Agreement and the Interim Order.

The DIP facility is due and payable through the earliest of:

     (i) the date that is six months following the Initial Issue
Date;
    (ii) the effective date and the date of the substantial
consummation of a plan of reorganization that has been confirmed by
an order of the Bankruptcy Court;
   (iii) the consummation of a sale or other disposition of all or
substantially all of the assets of the Debtors under 11 U.S.C.
Section 363;
    (iv) the date the Bankruptcy Court orders the conversion of the
bankruptcy case of any of the DIP Notes Parties to a Chapter 7
liquidation and
     (v) the acceleration of the DIP Notes in accordance with the
terms of the DIP Indenture.

The DIP ABL facility is due and payable through the earliest of:

     (i) April 30, 2024; and
    (ii) the occurrence of a DIP ABL Termination Event.

The Debtors are required to comply with these milestones:

      1. No later one Business Day after the Petition Date, the
Debtors must have filed a motion to approve the bidding procedures
with respect to a sale of their assets;
      2. No later than four Business Days after the Petition Date,
the Bankruptcy Court must have entered the Interim Order;
      3. No later than five Business Days after entry of the
Interim Order, the Initial Issue Date for the DIP Notes must have
occurred;
      4. No later than 21 calendar days after the Petition Date,
the Bankruptcy Court must have entered an order, in form and
substance satisfactory to the Required DIP Noteholders, approving
the Debtors' bid procedures;
      5. No later than 35 calendar days after the Petition Date,
the Bankruptcy Court must have entered the Final Order;
      6. No later than December 10, 2023, the Bankruptcy Court must
have entered an order reasonably acceptable to the DIP ABL Agent
approving the Debtors' bid procedures;
      7. No later than five Business Days after entry of the Final
Order, the Second Issue Date for the DIP Notes must have occurred;
      8. No later than December 15, 2023, the Bankruptcy Court must
have entered the Final Order, substantially consistent with the
Interim Order or otherwise acceptable to DIP ABL Agent;
      9. No later than January 15, 2024, the Bankruptcy Court must
have entered an order, in form and substance satisfactory to the
Required DIP Noteholders, approving the sale of the Debtors'
assets; and
     10. No later than January 28, 2024, the sale of the Debtors'
assets must have been consummated.

As of the Petition Date, the Debtors' long-term debt obligations
totaled $240.4 million.

On May 7, 2021, the DIP Issuers, as borrowers, entered into a
credit agreement with a certain lender and Wells Fargo Bank,
National Association, as agent, establishing a $15 million
asset-based revolving credit facility. The Prepetition ABL Facility
provides for revolving loans, subject to a borrowing base comprised
of eligible receivables and inventory. As of the Petition Date,
approximately $6.2 million is outstanding under the Prepetition ABL
Facility. The Prepetition ABL Facility has a stated maturity of May
7, 2024.

On July 30, 2020, the DIP Issuers issued $110 million in aggregate
principal amount of 15.00% PIK/Cash Senior Secured First Lien Notes
due 2025. The Prepetition 1L Notes were issued pursuant to an
indenture, dated as of July 30, 2020, among the Anagram Issuers, as
co-issuers, the DIP Guarantor, as a guarantor, and Ankura Trust
Company, LLC, as predecessor trustee and collateral trustee. The
Prepetition 1L Notes accrue interest at (i) a rate of 10% per
annum, payable in cash, and (ii) a rate of 5.00% payable in kind by
capitalizing such interest payment and increasing the aggregate
principal amount of the Prepetition 1L Notes by the amount thereof.
As of the Petition Date, approximately $125.3 million in aggregate
principal amount of Prepetition 1L Notes remains outstanding. The
Prepetition 1L Notes have a stated maturity of August 15, 2025.

On July 30, 2020, the DIP Issuers also issued $85 million in
aggregate principal amount of 10.00% PIK/Cash Senior Secured Second
Lien Notes due 2026. The Prepetition 2L Notes were issued pursuant
to an indenture, dated as of July 30, 2020 , among the DIP issuers,
as co-issuers, the DIP Guarantor, as guarantor, and Ankura Trust
Company, LLC, as predecessor trustee and collateral trustee.
Interest on the Prepetition 2L Notes accrues at (i) a rate of 5%
per annum, payable, at the DIP Issuers' option, entirely in cash or
entirely as PIK Interest; and (ii) a rate of 5% per annum of PIK
Interest, in each case, payable semi-annually in arrears on
February 15 and August 15 of each year; provided, that on August
15, 2025, interest is required to be PIK Interest. As of the
Petition Date, approximately $108.9 million in aggregate principal
amount of Prepetition 2L Notes was outstanding. The Prepetition 2L
Notes mature on August 15, 2026.

As adequate protection, the Debtors will grant each Prepetition
Agent, for the benefit of the applicable Prepetition Secured
Parties, a security interest in and lien on the DIP Collateral,
with the priorities and subject to the limitations set forth in the
Interim Order.

Each of the Prepetition Agents, on behalf of the applicable
Prepetition Secured Parties, are also granted adequate protection
super-priority claims as provided in 11 U.S.C. sections 503(b) and
507(b).

A copy of the order is available at https://urlcurt.com/u?l=8HCSvD
from PacerMonitor.com.

              About Anagram Holdings

Anagram Holdings LLC is a manufacturer of foil balloons and
inflated decor, distributing and selling its products both
domestically and internationally. Its customers include party
supply specialty stores, grocers, mass marketers, parks, drugstores
and discount variety stores. The company is based in Eden Prairie,
Minn.

Anagram Holdings and two affiliates filed Chapter 11 petitions
(Bankr. S.D. Texas Lead Case No. 23-90901) on Nov. 8, 2023. In the
petition signed by its chief restructuring officer, Adrian Frankum,
Anagram Holdings reported $100 million to $500 million in both
assets and liabilities.

Judge Marvin Isgur oversees the cases.

The Debtors tapped Howley Law, PLLC and Simpson Thacher & Bartlett,
LLP as legal counsel; Ankura Consulting Group, LLC as restructuring
advisor; and Robert W. Baird & Co. as investment banker. Kurtzman
Carson Consultants, LLC is the claims agent.


ANAGRAM HOLDINGS: Hires Ankura Consulting as Financial Advisor
--------------------------------------------------------------
Anagram Holdings LLC and its affiliates seek approval from the U.S.
Bankruptcy Court for the Southern District of Texas to employ
Ankura Consulting Group, LLC as their financial advisor.

The firm will render these services:

     a. perform general due diligence on the Debtor in order to
gain an understanding of the Debtor, capital structure, contractual
commitments and current situation;

     b. review the Debtor's existing cash management systems and
cash flow forecasts, and to the extent necessary, assist in
updating or refining the cash flow forecasts;

     c. review the Debtor's existing business plans and financial
forecasts and to the extent necessary, assist in updating or
refining the plans and forecasts to take into account various
scenarios;

     d. assist the Debtor in developing, evaluating and executing
various restructuring strategies, including assisting with
negotiation with creditors and other constituents, as requested;

     e. assist the Debtor in contingency planning and preparations,
as may be requested by the Debtor;

     f. assist the Debtor with IT infrastructure and system
migration and buildout;

     g. provide Adrian Frankum as chief restructuring officer
(CRO);

     h. assist the Debtor in the administration of its chapter 11
cases, including DIP financing and chapter 11 reporting, vendor
analysis and negotiations, witness testimony, and other transition
service workstreams, as may be requested by the Debtor;

     i. assist and prepare the Debtor for asset sales pursuant to
section 363 of the Bankruptcy Code or other sale process as
requested by Debtor; and

     j. perform such other professional services as may be
requested by the Debtor and agreed to by Ankura in writing.

The firm will be compensated as follows:

     a. CRO Fee: a monthly fee for the CRO in the amount of
$150,000; and

     b. Advisory Fees based on the actual hours expended by Ankura
personnel other than the CRO at Ankura's standard hourly rates
currently in effect as follows:

         Senior Managing Directors &
         Managing Director                 $950 - $1,285
         Senior Director & Director        $650 - $900
         Senior Associate and Associate    $450 - $600
         Paraprofessionals                 $350 - $405

Ankura holds $517,000 as retainer.

Ankura does not hold any interest adverse to the Debtors' estates,
and is a "disinterested person' as that term is defined in section
101(14) of the Bankruptcy Code, as modified by section 1107(b) of
the Bankruptcy Code, according to court filings.

The firm can be reached through:

     Adrian Frankum
     Ankura Consulting Group, LLC
     485 Lexington Avenue, 10th Floor
     New York, NY 10017
     Direct: (646) 968-3655
     Mobile: (917) 601-0224
     Email: adrian.frankum@ankura.com

              About Anagram Holdings

Anagram Holdings LLC is a manufacturer of foil balloons and
inflated decor, distributing and selling its products both
domestically and internationally. Its customers include party
supply specialty stores, grocers, mass marketers, parks, drugstores
and discount variety stores. The Debtor is based in Eden Prairie,
Minn.

Anagram Holdings and two affiliates filed Chapter 11 petitions
(Bankr. S.D. Texas Lead Case No. 23-90901) on Nov. 8, 2023. In the
petition signed by its chief restructuring officer, Adrian Frankum,
Anagram Holdings reported $100 million to $500 million in both
assets and liabilities.

Judge Marvin Isgur oversees the cases.

The Debtors tapped Howley Law, PLLC and Simpson Thacher & Bartlett,
LLP as legal counsel; Ankura Consulting Group, LLC as restructuring
advisor; and Robert W. Baird & Co. as investment banker. Kurtzman
Carson Consultants, LLC is the claims agent.


ANAGRAM HOLDINGS: Hires Simpson Thacher & Bartlett as Counsel
-------------------------------------------------------------
Anagram Holdings, LLC and its affiliates seek approval from the
U.S. Bankruptcy Court for the Southern District of Texas to employ
Simpson Thacher & Bartlett LLP as counsel.

The firm's services include:

   (a) advising with respect to the Debtors' rights, powers and
duties as debtors and debtors in possession in the continued
operation of their business, and in the areas of federal bankruptcy
law, corporate finance, U.S. securities laws, general corporate
matters, corporate governance, litigation, employee benefits, and
U.S. tax, including, in each case, negotiating and preparing on the
Debtors' behalf agreements, motions and other filings relating
thereto;

   (b) advising the Debtors regarding pending matters, the general
status of the Chapter 11 Cases and on any necessary or appropriate
steps;

   (c) taking all necessary or appropriate action to protect and
preserve the Debtors' estates during the pendency of the Chapter 11
Cases, including the prosecution of any actions on the Debtors'
behalf, the defense of any actions commenced against the Debtors,
the negotiation of disputes in which the Debtors are involved and
the preparation of objections to any claims filed against the
Debtors' estates;

   (d) preparing on behalf of the Debtors all necessary or
appropriate motions, applications, responses, orders, reports and
other pleadings and documents in connection with the administration
of the Debtors' estates;

   (e) communicating with the Debtors' creditors and other parties
in interest;

   (f) taking all necessary or appropriate action on behalf of the
Debtors in connection with the sale process (the "Sale Process") in
accordance with the Order (I) Approving (A) the Bidding Procedures,
(B) the Bid Protections Granted to the Stalking Horse Bidder, (C)
Assumption and Assignment Procedures, and (II) Granting Related
Relief [Docket No. 174] (the "Bidding Procedures Order") and all
related documents and such further actions as may be required or
advisable in connection with the implementation of the Sale
Process;

   (g) taking all necessary or appropriate action on behalf of the
Debtors in connection with a chapter 11 plan and disclosure
statement, and all related documents and such further actions as
may be required or advisable in connection with the implementation
of a chapter 11 plan and a contemplated restructuring;

   (h) advising with respect to corporate, litigation, tax and
other non-bankruptcy matters to the extent requested by the
Debtors;

   (i) attending court hearings and advising the Debtors on the
conduct of the Chapter 11 Cases; and

   (j) performing all other necessary legal services for the
Debtors in connection with the prosecution of the Chapter 11 Cases,
including, without limitation, performing all other services
assigned by the Debtors to the firm.

The firm will be paid at these rates:

     Partners             $1,595 to $2,195 per hour
     Senior Counsels      $1,565 per hour
     Counsels             $1,525 per hour
     Associates           $745 to $1,420 per hour
     Paraprofessionals    $425 to $655 per hour

The firm received from the Debtors a retainer of $700,000.

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:  Simpson Thacher was retained by the Debtors in
              March 2023. In September 2023, associate attorneys
              stepped up in class year, thereby increasing their
              respective billing rates. In January 2024, all
              attorney billing rates will be increased in the
              ordinary course. The firm's standard rates are:
              Partners, $1,595 to $2,195 per hour; Senior
              Counsels, $1,565 per hour; Counsels, $1,525 per
              hour; Associates, $745 to $1,420 per hour;
              Paraprofessionals, $425 to $655 per hour.

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

   Response:  Simpson Thacher provided its budgeted fees for
              these Chapter 11 Cases in connection with the
              budget relating to the Debtors' debtor-in-
              possession financing.

Sunny Singh, Esq., a partner at Simpson Thacher & Bartlett 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:

     Sunny Singh, Esq.
     Simpson Thacher & Bartlett LLP
     425 Lexington Avenue
     New York, NY 10017
     Tel: (212) 455-2000
     Fax: (212) 455-2502
     Email: Sunny.Singh@stblaw.com

              About Anagram Holdings, LLC

Anagram Holdings LLC is a manufacturer of foil balloons and
inflated decor, distributing and selling its products both
domestically and internationally.  Its customers include party
supply specialty stores, grocers, mass marketers, parks, drugstores
and discount variety stores. The company is based in Eden Prairie,
Minn.

Anagram Holdings and two affiliates filed Chapter 11 petitions
(Bankr. S.D. Texas Lead Case No. 23-90901) on Nov. 8, 2023.  In the
petition signed by its chief restructuring officer, Adrian Frankum,
Anagram Holdings reported $100 million to $500 million in both
assets and liabilities.

Judge Marvin Isgur oversees the cases.

The Debtors tapped Howley Law, PLLC, and Simpson Thacher &
Bartlett, LLP as legal counsel; Ankura Consulting Group, LLC, as
restructuring advisor; and Robert W. Baird & Co. as investment
banker.  Kurtzman Carson Consultants, LLC, is the claims agent.

On Nov. 20, 2023, the U.S. Trustee for Region 7 appointed an
official committee to represent unsecured creditors in the Debtors'
Chapter 11 cases.


APPLIED DNA: Posts $10 Million Net Loss in FY Ended Sept. 30
------------------------------------------------------------
Applied DNA Sciences, Inc. filed with the Securities and Exchange
Commission its Annual Report on Form 10-K reporting a net loss of
$10.02 million on $13.37 million of total revenues for the 12
months ended Sept. 30, 2023, compared to a net loss of $8.27
million on $18.17 million of total revenues for the 12 months ended
Sept. 30, 2022.

As of Sept. 30, 2023, the Company had $13.65 million in total
assets, $8.78 million in total liabilities, and $4.87 million in
total equity.

Melville, NY-based Marcum LLP, the Company's auditor since 2014,
issued a "going concern" qualification in its report dated Dec. 7,
2023, citing that the Company has incurred significant losses and
needs to raise additional funds to meet its obligations and sustain
its operations.  These conditions raise substantial doubt about the
Company's ability to continue as a going concern.

Summary of Fourth Quarter Fiscal 2023 Financial Results:

   * Total revenues were approximately $780,000 for the three-month
period Sept. 30, 2023, compared to $3.6 million for the same period
in the prior fiscal year.  The decrease in revenue of approximately
$2.8 million was due to an expected decline in COVID-19 testing
services revenue of $2.4 million driven primarily by cancelation of
the testing contract with City University of New York (CUNY) in
June 2023.  The decrease was also due to a reduction in product
revenue of $341,000.  The decline in product revenues is primarily
related to a decrease in the textiles market due to a decline
year-over-year in cotton DNA tagging revenue.

   * Gross profit for the three-month period ended Sept. 30, 2023
was $79,000, compared to $417,000 for the three-month period ended
Sept. 30, 2022.  The gross profit percentage was 10% and 12% for
the three-month periods ended Sept. 30, 2023, and 2022,
respectively.  The decline in gross profit year-over-year is due to
a higher percentage of COVID-19 surveillance testing services
revenue in the three-months ended Sept. 30, 2022, that generated a
higher gross profit compared to the same period in the current
fiscal year.

   * Operating loss decreased to $4.2 million for the three-month
period ended Sept. 30, 2023, as compared to $4.3 million for the
fourth quarter of fiscal 2022.  The decrease in operating loss is
the result of lower operating expenses during the fourth quarter of
fiscal 2023 by $419,000, offset by the decline in revenue.  The
decrease in operating expenses was primarily due to a decrease in
payroll and insurance expenses.

   * Net loss was $3.6 million for the three-month period ended
Sept. 30, 2023, compared to $665,000 for the fourth quarter of
2022.

   * Excluding non-cash expenses, Adjusted EBITDA was a negative
$3.5 million for the three-month period ended Sept. 30, 2023
compared to a negative $3.4 million for the same period in fiscal
2022.

   * Cash and cash equivalents stood at $7.2 million on Sept. 30,
2023, compared with $10.8 million as of June 30, 2023.

Management Comments

"Our fiscal fourth quarter concludes a productive year during which
we took a number of critical steps that place us firmly in the
execution phase of our pivot to a biotherapeutic
manufacturing-first growth strategy," stated Dr. James A. Hayward,
president and CEO of Applied DNA.  "We closed on the strategic
acquisition of Spindle Biotech that empowered the launch of our
Linea IVT platform, initiated the build-out of an initial GMP
manufacturing footprint to produce critical mRNA starting
materials, acquired what we believe to be an enviable base of
early-phase customers for both our Linea DNA and Linea IVT
platforms, and affirmed our capacity for the rapid production of
multi-gram quantities of Linea DNA. Cumulatively, these steps
expand our relevance into the growing and diverse value chain of
genetic medicine manufacturing with a near-term focus on enabling
our customers to produce better mRNA faster.

"At our ADCL clinical lab and supply chain traceability segments,
progress has been slower than hoped for due to the ongoing review
of our pharmacogenomics assay and testing service by New York State
Department of Health's and as we pursue initiatives to migrate our
seasonal cotton tagging business into a year-around revenue stream,
respectively."

Continued Dr. Hayward, "Looking ahead to fiscal 2024, we believe
that continued biotherapeutics segment momentum and anticipated
continued expansion in genetic medicine manufacturing demand,
particularly for mRNA, can drive segment growth in the coming
fiscal year. Our optimism is founded in our proprietary Linea IVT
platform that enables the cell-free, enzymatic production of
critical mRNA starting materials with unprecedented flexibility,
speed, scale, and costs.  We believe that this platform offers the
industry the ability to outperform conventional mRNA production
processes at the exact time the industry is seeking differentiation
and is embracing next-generation, fully enzymatic workflows."

"Furthermore, our planned GMP capacity for critical mRNA starting
materials is expected to now come online in the first half of
calendar 2024, subject to the availability of financing, that will,
for the first time, enable us to support current and new customers'
migration to the clinic with mRNA drug candidates.  We believe this
capacity will be a catalyst for our procurement of larger-scale
supply agreements for our platforms.  Additionally, we will
continue to invest for the future with a focus on platform
optimization and data generation to enhance Linea DNA's standing as
an alternative source of DNA for all genetic medicines.  While we
expect fiscal 2024 to be a milestones-driven year for us given the
biotherapeutics industry's ongoing investment in mRNA, longer term,
we believe the future of our Linea DNA platform is not constrained
to critical starting materials for mRNA production and have already
secured research use only orders and are starting to build a
backlog for in vitro diagnostics, gene editing/therapy and adoptive
cell therapy applications."

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

https://www.sec.gov/ix?doc=/Archives/edgar/data/0000744452/000141057823002615/apdn-20230930x10k.htm

                        About Applied DNA

Applied DNA Sciences, Inc. -- http//www.adnas.com -- is a
biotechnology company developing technologies to produce and detect
deoxyribonucleic acid ("DNA").  Using the polymerase chain reaction
("PCR") to enable both the production and detection of DNA, the
Company operates in three primary business markets: (i) the
manufacture of synthetic DNA for use in nucleic acid-based
therapeutics; (ii) the detection of DNA in molecular diagnostics
testing services; and (iii) the manufacture and detection of DNA
for industrial supply chain security services.


APPS INC: Seeks to Hire Green & Sklarz as Bankruptcy Counsel
------------------------------------------------------------
Apps, Inc. and Market Share, Inc. seek approval from the U.S.
Bankruptcy Court for the District of Connecticut to employ the law
firm of Green & Sklarz LLC as their general bankruptcy counsel.

The firm's services include:

     a. advising each Debtor of its rights, powers and duties as
debtor and debtor-in-possession;

     b. advising and assisting the Debtors with respect to the
negotiation and documentation of financing agreements, debt
restructuring, cash collateral orders, and related transactions;

     c. reviewing the nature and validity of liens asserted against
the property of the Debtors and advising the Debtors concerning the
enforceability of such liens;

     d. advising the Debtors concerning the actions that it might
take to collect and to recover property for the benefit of the
Debtors' estate;

     e. preparing on behalf of the Debtors certain necessary and
appropriate applications, motions, pleadings, draft orders,
notices, schedules, and other documents, and reviewing all
financial and other reports to be filed in these Chapter 11 cases;

     f. advising the Debtors concerning, and preparing responses
to, applications, motions, pleadings, notices and other papers
which may be filed and served in these Chapter 11 cases;

     g. counseling the Debtors in connection with the formulation,
negotiation, and promulgation of a plan of reorganization and
related documents; and

     h. performing all other legal services for the Debtors which
will be necessary or appropriate in administration of these Chapter
11 cases.

The firm's hourly rates are as follows:

     Jeffrey M. Sklarz, Esq.          $600 per hour
     Joanna M. Kornafel, Esq.         $425 per hour

Jeffrey Sklarz, Esq., a member of Green & Sklarz, disclosed in a
court filing that his firm is a "disinterested person" as the term
is defined in Section 101(14) of the Bankruptcy Code.

The firm can be reached at:

     Jeffrey M. Sklarz, Esq.
     GREEN & SKLARZ LLC
     1 Audubon St, 3rd Fl
     New Haven, CT 06511
     Tel: (203) 285-8545
     Fax: (203) 823-4546
     Email: jsklarz@gs-lawfirm.com

            About Apps, Inc.

Apps, Inc. sell AT&T service plans, devices, and accessories to
both individual consumers and businesses.

The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Conn. Case No. 23-20895) on November 3,
2023. In the petition signed by Gordon H. Newton, president, the
Debtor disclosed up to $50,000 in assets and up to $10 million in
liabilities.

Judge James J. Tancredi oversees the case.

Jeffrey M. Sklarz, Esq., at Green & Sklarz LLC, oversees the case.


AQUAGRILLE LLC: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: AquaGrille, LLC
          d/b/a AquaGrille
          d/b/a AquaGrille Juno
        14255 U.S. Hwy 1
        Suite 243
        North Palm Beach, FL 33408

Business Description: AquaGrille owns and operates a restaurant
                      in Juno Beach, FL, offering contemporary,
                      coastal American dining set in a warm,
                      modern beach house-inspired decor.

Chapter 11 Petition Date: December 12, 2023

Court: United States Bankruptcy Court
       Southern District of Florida

Case No.: 23-20253

Judge: Hon. Mindy A. Mora

Debtor's Counsel: Craig I. Kelley, Esq.
                  KELLEY KAPLAN & ELLER, PLLC
                  1665 Palm Beach Lakes Blvd
                  The Forum - Suite 1000
                  West Palm Beach, FL 33401
                  Tel: 561-491-1200
                  E-mail: craig@kelleylawoffice.com

Total Assets: $84,305

Total Liabilities: $2,820,727

The petition was signed by Stephen Asprinio as Mgr, SA Hospitality
Ventures, LLC, manager of the Debtor.

A full-text copy of the petition containing, among other items, a
list of the Debtor's 20 largest unsecured creditors is available
for free at PacerMonitor.com at:

https://www.pacermonitor.com/view/HTZRVMA/AquaGrille_LLC__flsbke-23-20253__0001.0.pdf?mcid=tGE4TAMA


ARCHES BUYER: Moody's Rates New $375MM Sr. Secured Term Loan 'B1'
-----------------------------------------------------------------
Moody's Investors Service assigned a B1 rating to Arches Buyer
Inc.'s proposed $375 million Backed Senior Secured Term Loan B due
2027 on the announcement of a partially debt-funded shareholder
distribution. Concurrently, Moody's affirmed the company's existing
Backed Senior Secured Bank Credit Facility, including the revolver
due 2025 and term loan B due 2027, Backed Senior Secured Notes at
B1, and the Backed Senior Unsecured Notes due 2028 at Caa1. Moody's
also affirmed the B2 Corporate Family Rating and B2-PD Probability
of Default Rating at Arches Holdings Inc. ("Ancestry"), the
ultimate parent company of Arches Buyer Inc. Ancestry is a provider
of family history and consumer genomics services. The outlook of
Arches Buyer Inc. and Arches Holdings Inc. were changed to negative
from stable.

The net proceeds from the proposed 4-year non-fungible term loan B
together with balance sheet cash at closing, will be used to fund a
$500 million distribution to shareholders and pay transaction fees
and expenses. Moody's expects the terms and conditions on the new
term loan B to be relatively similar to the existing facility,
other than the expected pricing.  

"The change in outlook to negative from stable reflects Moody's
view that the company's sponsor-driven financial policy is taking a
more aggressive tone, driven in large part by the proposed dividend
recapitalization transaction that will sustain Ancestry's
debt-to-EBITDA leverage above Moody's downgrade threshold," said
Oleg Markin, Moody's analyst for Ancestry. "Subscriber growth
challenges amid inflationary environment and slowing global
economic activity in 2024, making this an inopportune time to raise
leverage and reduce liquidity cushion," added Markin.

Therefore, financial strategy is a key rating driver and a
governance consideration under Moody's General Principles for
assessing ESG risks. Notwithstanding, Ancestry's overall exposure
to governance risk (Issuer Profile Score or "IPS") is unchanged at
G-4 because it is consistent with the B2 CFR and the negative
outlook.

Pro forma for the dividend recapitalization, Ancestry's
debt-to-EBITDA (Moody's adjusted) will increase from 6.6 times to
7.3 times as of twelve months ended September 30, 2023. Moody's
forecasts a decrease in new customer acquisitions and increased
investment spending will lead to a 2%-3% decline in revenue and
EBITDA over the next 12-18 months. However, anticipated steady
retention rates among its core customer base are expected to
partially mitigate this impact. As a result, Moody's estimates that
the company's debt-to-EBITDA leverage will be sustained over 7.0
times, and the interest coverage, calculated as
EBITDA-capex/interest expense, will decline to 1.5 times in 2024.

Ancestry's debt instrument ratings are determined using Moody's
Loss Given Default for Speculative-Grade Companies Methodology (LGD
Methodology) and reflect an average family recovery rate assumption
of 50%. The company's first lien senior secured debt ($1.95 billion
term loan, $375 million incremental term loan, $250 million
revolver and $950 million secured notes) are rated B1, benefiting
from loss absorption from the unsecured notes in a default
scenario. The rating on the $500 million of senior unsecured notes
is Caa1, reflecting its junior position in the capital structure.

Arches Buyer Inc. is the obligor under the credit facility
(revolver and term loan), secured and unsecured notes. The bank
credit facility and secured notes are collateralized by
substantially all assets of the Issuer and guaranteed, jointly and
severally, by Arches Intermediate Inc., the direct parent entity of
the Issuer ("Holdings"), and each of the Issuer's wholly-owned
domestic restricted subsidiaries.

RATINGS RATIONALE

Ancestry's B2 CFR reflects the company's defensible and established
market position within its family history research offering,
supported by the highly loyal customer base of approximately 3.6
million subscribers (as of September 30, 2023) and the largest DNA
database in the industry with 25 million genomes. Ancestry's family
history business, estimated to represent more than 85% of the
company's consolidated revenue in 2023, provides earnings and cash
flow stability while making the company a formidable force in the
genomic industry. Moody's expects retention rates for the core
subscriber group to remain stable, increasing over time as the
subscriber base shifts into longer tenured base. However, Moody's
expects total subscriber growth will remain sluggish in 2024 and
believes the company will be challenged to grow its revenue over
the next 12-18 months. The company's DNA segment is a strategically
important part of the business despite its lower profitability
because it contributes to the gross subscriber additions in the
family history segment and its cash flows help fund the company's
investment needs, product development, marketing and promotional
activity. The rating is supported by the company's strong EBITDA
margin with low capital investment requirements that inform Moody's
expectation for continued solid free cash flow generation of around
4% of total debt (Moody's adjusted and pro forma for the new debt
issuance) in 2024.

The rating also considers Ancestry's high governance risk
associated with concentrated private equity ownership, including
tolerance for high financial leverage and history of shareholder
friendly transactions. Moody's believes that continuous debt-funded
distributions strain the company's credit metrics, potentially
impacting operational performance and restricting financial
flexibility in the face of global economic slowdown. Because its
largely subscription services are geared towards consumers'
discretionary incomes, an economic slowdown that impairs employment
and income levels could significantly reduce subscriber revenue.
Ancestry's high closing debt-to-EBITDA leverage (Moody's adjusted),
pro forma for the dividend recapitalization transaction, estimated
at around 7.3 times as of September 30, 2023 and gradually
declining subscriber count that Moody's expects will persist over
the next 12-18 months, weakly position the company in the B2 rating
category. The rating also reflects the company's concentrated
operations within the genealogy industry and dependence on the
highly cyclical and discretionary consumer spending constrains its
credit profile.

Moody's expects Ancestry to maintain good liquidity over the next
12-15 months, supported by a pro forma cash balance of
approximately $25 million at closing and full availability under
its existing $250 million revolving credit facility due 2025.
Moody's projects Ancestry to generate annual free cash flow between
$150-160 million (before $23.3 million annual term loan
amortization, paid quarterly) over the next 12-15 months. The
company's revolver is subject to a springing first lien net
leverage ratio when utilization exceeds 35%. Moody's does not
expect the covenant to spring over the next 12-15 months but
estimate that the company would maintain comfortable cushion even
if the covenant is triggered.

The negative outlook reflects the potential impact of prolonged
economic weakness and high inflation on discretionary consumer
spending, and that Ancestry may not be able to improve earnings to
substantially reduce leverage over the next 12-18 months. The
outlook could return to stable if the company can restore its
credit metrics, including sustaining debt-to-EBITDA below 6.5 times
and free cash flow-to-debt above 5%.  

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

A ratings upgrade is unlikely over the next 12-18 months, given the
current negative outlook. Over time, Ancestry's ratings could be
upgraded if the company builds track record of balanced financial
policies, including achieving and maintaining debt-to-EBITDA
(Moody's adjusted) below 5.0 times and free cash flow as a
percentage of debt (Moody's adjusted) in the high-single digit
percentages. The ratings upgrade would also require Ancestry to
maintain healthy organic revenue and EBITDA growth.

The ratings could be downgraded if business fundamentals weaken as
evidenced by increasing subscriber churn, declining average revenue
per user (ARPU) or more intense competition leading to a weaker
than expected operating performance. A deterioration in liquidity
or lack of meaningful progress in deleveraging from an aggressive
financial policy could also pressure the ratings. This could be
manifested by the company's debt-to-EBITDA sustained above 6.5
times (Moody's adjusted), or internally generated cash flows soften
such that free cash flow as a percentage of debt is sustained below
5%.

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

Arches Holdings Inc. is a holding company for Ancestry.com.
Ancestry generates its revenue primarily by providing customers
with subscriptions to its family history platform and through the
sale of its AncestryDNA service. Ancestry is majority owned by
Blackstone, with a minority ownership held by Singaporean sovereign
wealth fund GIC and Ancestry's management. Moody's expects the
company will generate annual revenue of around $1.3 billion at the
end of 2023.


ARCHES INTERMEDIATE: S&P Rates New $375MM Term Loan B 'B'
---------------------------------------------------------
S&P Global Ratings assigned its 'B' issue-level rating and '3'
recovery rating to Arches Buyer Inc. (doing business as Ancestry)
proposed $375 million non-fungible incremental term loan B due
2027. The '3' recovery rating indicates its expectation for
meaningful (50%-70%; rounded estimate: 50%) recovery in the event
of a payment default.

The company plans to use the proceeds from the proposed incremental
loan, along with cash and after expenses, to fund a $500 million
dividend to its shareholders. Pro forma for the proposed
transaction, Ancestry's S&P Global Ratings-adjusted gross leverage
as of Sept. 30, 2023, increased to 7.0x from 6.3x. S&P said, "Our
ratings and outlook on the company are unaffected by the proposed
transaction because we expect its leverage will improve to the
high-6x area in 2024. We view Ancestry's leverage as very high but
adequate for the rating due to its favorable cash generation (free
operating cash flow to debt of more than 5%) and leading market
position in the online family history research industry. The stable
outlook reflects our expectation for a modest increase in the
company's revenue and EBITDA margin over the next 12 months as it
continues to optimize pricing and packaging, which will slightly
offset declines in its DNA kit sales and new customer additions."

S&P said, "Our 'B' issue-level rating and '3' recovery rating on
the company's $250 million revolving credit facility, $1.9 billion
first-lien term loan, and $950 million senior secured notes and our
'CCC+' issue-level rating and '6' recovery rating on its $500
million senior unsecured notes are unaffected. The '6' recovery
rating indicates our expectation for minimal (0%-10%; rounded
estimate: 0%) recovery in the event of a payment default."

ISSUE RATINGS--RECOVERY ANALYSIS

Key analytical factors

-- S&P's simulated default scenario contemplates a default in 2026
due to an unexpected, severe downturn in the global economy that
leads to customer losses and pricing pressures as new entrants
emerge or existing competitors expand their product offerings and
features.

-- Ancestry's capital structure comprises a $250 million
first-lien revolving credit facility maturing in 2025, a $1.9
billion first-lien term loan along with the proposed $375 million
non-fungible incremental term loan maturing in 2027, $950 million
of first-lien notes maturing in 2028, and $500 million of
outstanding senior unsecured notes maturing in 2028.

-- The company's domestic subsidiaries guarantee its secured and
unsecured debt. The first-lien debt is secured by a first-priority
security interest in substantially all of the borrower's and the
guarantor's tangible and intangible assets.

-- The senior unsecured notes are subordinated to the secured debt
to the extent of the value of the collateral.

-- In a default scenario, S&P's believe the company would
reorganize and operate as a going concern due to the importance of
its products and services to its core customers.

Simulated default assumptions

-- EBITDA at emergence: About $290 million
-- EBITDA multiple: 6.5x
-- Default year: 2026

Simplified waterfall

-- Net enterprise value after administrative expenses (5%): About
$1.79 billion

-- Estimated first-lien secured debt claims: About $3.48 billion

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

-- Estimated unsecured claims: $515 million

    --Recovery expectations: 0%-10% (rounded estimate: 0%)



ARCITERRA WESTGATE: Involuntary Chapter 11 Case Summary
-------------------------------------------------------
Alleged Debtor: Arciterra Westgate Indianapolis IN II, LLC
                c/o National Registered Agents
                334 N. Senate Ave.
                Indianapolis, IN 46204

Business Description: Arciterra is a Single Asset Real Estate
                      debtor (as defined in 11 U.S.C. Section 101
                      (51B)).              

Involuntary Chapter
11 Petition Date: December 12, 2023

Court: United States Bankruptcy Court
       Southern District of Indiana

Case No.: 23-05522

Judge: Hon. James M. Carr

Petitioners' Counsel: Julie A. Camden, Esq.
                      CAMDEN & MERIDEW, P.C.
                      10412 Allisonville Rd. Ste 200
                      Fishers IN 46038
                      Tel: 317-770-0000
                      Email: jc@camlawyers.com

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

https://www.pacermonitor.com/view/AXV6UNY/Arciterra_Westgate_Indianapolis__insbke-23-05522__0001.0.pdf?mcid=tGE4TAMA

Alleged creditors who signed the petition:

Petitioner                      Nature of Claim      Claim Amount

Crew Enterprises LLC             Services to Property       $6,581
7653 Graham Road
Indianapolis IN 46250

Dream Construction LLC           Services to Property      $69,505
7653 Graham Road
Indianapolis IN 46218

Circle City Outdoor Living, LLC  Services to Property      $31,715
d/b/a Circle City Outdoors LLC
5851 E. 34th Street
Indianapolis, IN 46218


ASHFORD HOSPITALITY: Contributes $35M in Hotel Assets to Stirling
-----------------------------------------------------------------
Ashford Hospitality Trust disclosed in a Form 8-K Report filed with
the Securities and Exchange Commission that on December 6, 2023
(the "Closing"), the Company's subsidiaries, Ashford Hospitality
Limited Partnership and Ashford TRS Corporation (together, the
"Company"), entered into a Contribution Agreement with Stirling
REIT OP, LP, a subsidiary of Stirling Hotels & Resorts, Inc.

Pursuant to the terms of the Contribution Agreement, the Company
contributed its equity interests, and the associated debt and other
obligations, in four hotel assets (the "Initial Portfolio") to
Stirling REIT in exchange for 1,400,943 Class I units of Stirling
REIT. The net contribution value of the Initial Portfolio was
approximately $35 million, which represents the appraised value of
the Initial Portfolio as provided by an independent third-party
appraiser of $56.2 million, the assumption of $30.2 million of
existing indebtedness and approximately $9 million of net working
capital and reserves, and is subject to customary post-closing
working capital adjustments. According to the Contribution
Agreement, the Company entered into lock-up agreements concerning
its Class I units that restrict the assignment, sale, and transfer
of the units for one year following the Closing.

In addition, the Company is prohibited from redeeming its Class I
units for a period of three years following the Closing. At the end
of the three-year period, the Class I units may be redeemed
pursuant to the terms of the Amended and Restated Limited
Partnership Agreement of Stirling REIT and any Class I units
converted to shares of Stirling's Class I common stock may be
repurchased by Stirling pursuant to the terms and conditions of its
share repurchase plan. In addition, the Company has agreed not to
withdraw as a participant in the distribution reinvestment plan of
Stirling REIT, and thereby will automatically reinvest any
distributions paid on its Class I units into additional Class I
units, through at least December 31, 2024.

In the Contribution Agreement, the Company and Stirling REIT each
made certain customary representations and warranties to one
another, including representations relating to its organization,
power, and authorization, its execution and delivery of the
Contribution Agreement, and the enforceability of the Contribution
Agreement. In addition, the Company made certain representations
and warranties relating to the Initial Portfolio and occupancy
agreements applicable to properties contained in the Initial
Portfolio, and Stirling REIT made certain representations and
warranties relating to the Class I units of Stirling REIT. The
Contribution Agreement also contains customary covenants made by
the Company and Stirling REIT. In addition, Stirling REIT is
prohibited from selling, transferring or otherwise disposing any
portion of the real and personal property in the Initial Portfolio,
subject to certain exceptions and limitations, for a period of
three years following the Closing.

Under the Contribution Agreement, each of the Company and Stirling
REIT agree to indemnify one another for any breaches of its
representations, warranties, covenants and agreements along with
any claims relating to the Initial Portfolio that occur during a
party's ownership of such portfolio. The Contribution Agreement
also contains a provision requiring Stirling REIT to indemnify the
Company for any third-party claims relating to, arising out of, or
in connection with the existing debt documents related to the
Initial Portfolio, including any guarantees or
environmental-related indemnities therein. In connection with the
foregoing, the indemnification obligations of each party are
subject to customary limitations and exceptions.

                     About Ashford Hospitality

Headquartered in Dallas, Texas, Ashford Hospitality Trust, Inc.
operates as a self-advised real estate investment trust focusing on
the lodging industry.  As of September 30, 2023, the Trust had $3.7
billion in total assets against $3.9 billion in total liabilities.

Egan-Jones Ratings Company, on May 5, 2023, maintained its 'CCC+'
foreign currency and local currency senior unsecured ratings on
debt issued by Ashford Hospitality Trust, Inc.


ASHFORD HOSPITALITY: Provides Update on Status of Loan Pools
------------------------------------------------------------
Ashford Hospitality Trust, Inc. announced that it has completed the
transfer of ownership of the KEYS F loan pool to the mortgage
lender.

As previously disclosed in a Current Report on Form 8-K filed on
July 7, 2023, Ashford Hospitality Trust, Inc. announced its
intentions not to make the required paydowns to extend the KEYS
Pool F loan, among other loans, which had an initial maturity date
in June 2023. The KEYS Pool F loan was secured by five hotel
properties in the original payment amount of $215,120,000.

The hotels in the KEYS F loan pool that were transferred to the
mortgage lender include:

   -- Embassy Suites Flagstaff – Flagstaff, AZ

   -- Embassy Suites Walnut Creek – Walnut Creek, CA

   -- Marriott Bridgewater – Bridgewater, NJ

   -- Marriott Research Triangle Park – Durham, NC

   -- W Atlanta Downtown – Atlanta, GA

The Company continues to work with the lender for the KEYS A and
KEYS B loan pools on a consensual transfer of ownership of those
hotels to the lender, and the Company anticipates that transfer
could occur by the end of the year or early 2024. The original
lenders previously transferred the loans to a securitization trust.
Such trust, acting through its servicer, brought suit seeking the
appointment of a receiver. It is not unusual that a receiver be
appointed to facilitate a transfer of ownership of those hotels to
the lender, and the Company is fully cooperating on a consensual
transfer of ownership. Several media outlets have erroneously
stated that Bank of America, Morgan Stanley, and Barclays have sued
Ashford Hospitality Trust for breach of contract. This is
inaccurate. Those banks are not party to the litigation seeking the
appointment of a receiver.

                     About Ashford Hospitality

Headquartered in Dallas, Texas, Ashford Hospitality Trust, Inc.
operates as a self-advised real estate investment trust focusing on
the lodging industry.  As of September 30, 2023, the Trust had $3.7
billion in total assets against $3.9 billion in total liabilities.

Egan-Jones Ratings Company, on May 5, 2023, maintained its 'CCC+'
foreign currency and local currency senior unsecured ratings on
debt issued by Ashford Hospitality Trust, Inc.


AT CASTLETON: Involuntary Chapter 11 Case Summary
-------------------------------------------------
Alleged Debtor:          AT Castleton IN Owner II, LLC
                         c/o National Registered Agents
                         334 N. Senate Ave.
                         Indianapolis, IN 46204

Business Description:    AT Castleton is a Single Asset Real
                         Estate debtor (as defined in 11 U.S.C.
                         Section 101(51B)).

Involuntary Chapter
11 Petition Date:        December 12, 2023

Court:                   United States Bankruptcy Court
                         Southern District of Indiana

Case No.:                23-05511

Judge:                   Hon. Jeffrey J. Graham

Petitioners'
Counsel:                 Julie A. Camden, Esq.
                         CAMDEN & MERIDEW, P.C.
                         10412 Allisonville Rd., Ste 200
                         Fishers IN 46038
                         Tel: 317-770-0000
                         Email: jc@camlaywers.com

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

https://www.pacermonitor.com/view/KWISB7A/AT_Castleton_IN_Owner_II_LLC__insbke-23-05511__0001.0.pdf?mcid=tGE4TAMA

Alleged creditors who signed the petition:

Petitioner                      Nature of Claim      Claim Amount

Crew Enterprises LLC             Services to Property      $74,350
7653 Graham Road
Indianapolis IN 46250

Dream Construction LLC           Services to Property     $100,525
7653 Graham Road
Indianapolis IN 46250

Circle City Outdoor
Living, LLC
dba Circle City Outdoors LLC     Services to Property     $145,375
5851 E. 34th Street
Indianapolis IN 46218


BARKER SLEEP: Voluntary Chapter 11 Case Summary
-----------------------------------------------
Debtor: Barker Sleep Medicine Professionals, PLLC
            d/b/a Barker Sleep Institute
        1388 Papermill Pointe Way
        Knoxville, TN 37909

Business Description: The Debtor helps patients suffering from a
                      sleep disorder.

Chapter 11 Petition Date: December 11, 2023

Court: United States Bankruptcy Court
       Eastern District of Tennessee

Case No.: 23-32132

Judge: Hon. Suzanne H. Bauknight

Debtor's Counsel: Maurice K. Guinn, Esq.
                  GENTRY, TIPTON AND MCLEMORE, PC
                  P.O. Box 1990
                  Knoxville, TN 37901
                  Tel: (865) 525-5300
                  Fax: (865) 523-7315
                  Email: mkg@tennlaw.com

Estimated Assets: $500,000 to $1 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Rosanne S. Barker as authorized
representative of the Debtor.

A copy of the Debtor's list of 20 largest unsecured creditors is
now available for download at PacerMonitor.com.

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

https://www.pacermonitor.com/view/5P2BXKQ/Barker_Sleep_Medicine_Professionals__tnebke-23-32132__0001.0.pdf?mcid=tGE4TAMA


BARRETTS MINERALS: Comm. Taps Province LLC as Financial Advisor
---------------------------------------------------------------
The official committee of unsecured creditors of Barretts Minerals
Inc. seeks approval from the U.S. Bankruptcy Court for the Southern
District of Texas to employ Province, LLC as its financial
advisor.

The firm's services include:

     (a) becoming familiar with and analyzing the Debtors' budget,
assets and liabilities, and overall financial condition;

     (b) reviewing financial and operational information furnished
by the Debtors;

     (c) monitoring the sale process, reviewing bidding procedures,
stalking horse bids, asset purchase agreements, interfacing with
the Debtors' professionals, and advising the Committee regarding
the process;

     (d) scrutinizing the economic terms of various agreements,
including, but not limited to, the Debtors' various professional
retentions;

     (e) analyzing the Debtors' proposed business plans and
developing alternative scenarios, if necessary;

     (f) assessing the Debtors' various pleadings and proposed
treatment of unsecured creditor claims therefrom;

     (g) preparing, or reviewing as applicable, avoidance action
and claim analyses;

     (h) assisting the Committee in reviewing the Debtors'
financial reports, including, but not limited to, statements of
financial affairs, schedules of assets and liabilities, and monthly
operating reports;

     (i) advising the Committee on the current state of these
chapter 11 cases;

     (j) advising the Committee in negotiations with the Debtors
and third parties as necessary;

     (k) if necessary, participating as a witness in hearings
before the Court with respect to matters upon which Province has
provided advice;

     (l) providing other activities as are approved by the
Committee, the Committee's counsel, and as agreed to by Province;
and

     (m) performing such other services.

The firm will be paid at these rates:

     Managing Directors and Principals    $860-$1,350
     Vice Presidents, Directors,
     and Senior Directors                 $580-$950
     Analysts, Associates,
     and Senior Associates                $300-$650
     Other / Para-Professional            $220-$300

Effective as of Jan. 1, 2024, Province is raising its market rates
as follows:

     Managing Directors and Principals    $870 - $1,450
     Vice Presidents, Directors,
     and Senior Directors                 $690 - $950
     Analysts, Associates,
     and Senior Associates                $370 - $700
     Other / Para-Professional            $270 - $410

The firm received a retainer in the amount of $250,000.

Michael Atkinson, a principal of Province, disclosed in a court
filing that the firm is a "disinterested person" as that term is
defined in Section 101(14) of the Bankruptcy Code.

The firm can be reached through:

     Michael Atkinson
     Province, LLC
     2360 Corporate Circle, Suite 340
     Henderson, NV 89074
     Tel: (702) 685-5555
     Email: pnavid@provincefirm.com

             About Barretts Minerals

Barretts Minerals Inc. current operations are focused on the
mining, beneficiating, processing, and sale of industrial talc. BMI
historically supplied a relatively minor percentage of its sales
into cosmetic applications. BMI's talc is sold to distributors and
third-party manufacturers for use in such parties' products, which
are then incorporated into downstream products eventually sold to
consumers.

The Debtors sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. S.D. Tex. Lead Case No. 23-90794) on Oct.
2, 2023. In the petition signed by David J. Gordon, chief
restructuring officer, the Debtor disclosed up to $100 million in
assets and up to $50 million in liabilities.

Judge David R. Jones oversees the case.

The Debtors tapped Porter Hedges LLP and Latham& Watkins LLP as
legal counsel, M3 Partners, LP as financial advisor, Jefferies LLC
as investment banker, and Stretto, Inc., as claims, noticing, and
solicitation agent and administrative advisor.


BARRETTS MINERALS: Committee Hires Caplin & Drysdale as Counsel
---------------------------------------------------------------
The official committee of unsecured creditors of Barretts Minerals
Inc. and its affiliates seeks approval from the U.S. Bankruptcy
Court for the Southern District of Texas to employ Caplin &
Drysdale, Chartered as counsel.

The firm will provide these services:

   (a) assist, advise, and represent the Committee in its meetings,
consultations, communications, and negotiations with the Debtors,
and other parties in interest, including with respect to any
potential or actual resolution of the Debtors' talc- and/or
asbestos-related liabilities, any potential or actual
post-reorganization trust funding, and any other matters as
requested by the Committee;

   (b) assist, advise, and represent the Committee in connection
with tort and liability issues, including without limitation any
proposed or actual estimation of tort claims; any proposed or
actual procedures for filing, pursuing, or resolving tort claims;
any analysis of the Debtors' or related parties' tort liabilities;
and potential sources for recovery;

   (c) assist, advise, and represent the Committee in investigating
and, if appropriate, pursuing claims against the Debtors, their
parents, affiliates, and others stemming from such investigation
relating to mass tort liabilities;

   (d) prepare and conduct discovery;

   (e) assist, advise, and represent the Committee with respect to
mass-tort bankruptcy issues in the Chapter 11 Cases;

   (f) provide recommendations and input for legal strategies,
tactics and positions to be taken by the Committee;

   (g) prepare motions, notices, briefs, responses, answers,
orders, reports, and memoranda on behalf of the Committee and
assist, advise, and represent the Committee at hearings, trials,
adversary proceedings, appeal proceedings, mediations,
arbitrations, or alternative dispute resolutions related to a-f
above; and

   (h) assist the Committee in performing such other services as
may be desirable or required for the discharge of the Committee's
duties pursuant to section 1103 of the Bankruptcy Code.

The firm will be paid at these rates:

     Members           $1,050 to $1,395 per hour
     Of Counsels       $725 to $850 per hour
     Associates        $440 to $565 per hour
     Paralegals        $395 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:  Not applicable.

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

   Response:  The Committee and Caplin & Drysdale expect to
              develop a prospective budget and staffing plan,
              recognizing that in the course of large chapter 11
              cases, complex and unexpected issues may arise that
              may in turn result in unforeseeable fees and
              expenses.

Kevin C. Maclay, Esq., a member at Caplin & Drysdale, Chartered,
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:

     Kevin C. Maclay, Esq.
     Caplin & Drysdale, Chartered
     One Thomas Circle NW, Suite 1100
     Washington, DC 20005
     Tel: (202) 862-5000
     Fax: (202) 429-3301
     Email: kmaclay@capdale.com

              About Barretts Minerals Inc.

Barretts Minerals Inc. current operations are focused on the
mining, beneficiating, processing, and sale of industrial talc. BMI
historically supplied a relatively minor percentage of its sales
into cosmetic applications.  BMI's talc is sold to distributors and
third-party manufacturers for use in such parties' products, which
are then incorporated into downstream products eventually sold to
consumers.

The Debtors sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. S.D. Tex. Lead Case No. 23-90794) on Oct.
2, 2023.  In the petition signed by David J. Gordon, chief
restructuring officer, BMI disclosed up to $100 million in assets
and up to $50 million in liabilities.

Judge David R. Jones oversees the cases.

The Debtors tapped Porter Hedges LLP and Latham& Watkins LLP as
legal counsel, M3 Partners, LP as financial advisor, Jefferies LLC
as investment banker, and Stretto, Inc., as claims, noticing, and
solicitation agent and administrative advisor.


BAYES CAPITAL: Mark Hall Named Subchapter V Trustee
---------------------------------------------------
The U.S. Trustee for Regions 3 and 9 appointed Mark Hall, Esq., a
partner at Fox Rothschild, LLP, as Subchapter V trustee for Bayes
Capital, LLC.

Mr. Hall will be paid an hourly fee of $425 for his services as
Subchapter V trustee and will be reimbursed for work-related
expenses incurred.

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

The Subchapter V trustee can be reached at:

     Mark E. Hall, Esq.
     Fox Rothschild, LLP
     49 Market Street
     Morristown, NJ 07960
     Phone: (973) 548-3314
     Email: mhall@foxrothschild.com

                        About Bayes Capital

Bayes Capital, LLC filed Chapter 11 petition (Bankr. D.N.J. Case
No. 23-20950) on Nov. 24, 2023, with up to $50,000 in assets and
$100,001 to $500,000 in liabilities.

Judge Stacey L. Meisel oversees the case.

Kenneth L. Baum, Esq., at the Law Offices of Kenneth L. Baum, LLC
represents the Debtor as bankruptcy counsel.


BEACON STUDIO: Voluntary Chapter 11 Case Summary
------------------------------------------------
Debtor: Beacon Studio Farms LLC
        1201 Pacific Avenue, Suite 1200
        Tacoma, WA 98402-4395

Business Description: The Debtor is a land developer, builder of
                      apartments, and luxury single-family homes.

Chapter 11 Petition Date: December 11, 2023

Court: United States Bankruptcy Court
       Western District of Washington

Case No.: 23-42184

Judge: Hon. Mary Jo Heston

Debtor's Counsel: Aditi Paranjpye, Esq.
                  CAIRNCROSS & HEMPELMANN, P.S.
                  524 Second Avenue
                  Suite 500
                  Seattle, WA 98104
                  Tel: 206-587-0700
                  Email: aparanjpye@cairncross.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $0 to $50,000

The petition was signed by Shelly Crocker as chief restructuring
officer.

A copy of the Debtor's list of 30 largest unsecured creditors is
now available for download at PacerMonitor.com.

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

https://www.pacermonitor.com/view/XB5TI5I/Beacon_Studio_Farms_LLC__wawbke-23-42184__0001.0.pdf?mcid=tGE4TAMA


BELLAREED CONSTRUCTION: Tamara Ogier Named Subchapter V Trustee
---------------------------------------------------------------
The U.S. Trustee for Region 21 appointed Tamara Miles Ogier, Esq.,
at Ogier, Rothschild & Rosenfeld, PC as Subchapter V trustee for
Bellareed Construction & Remodeling, LLC.

Ms. Ogier will be paid an hourly fee of $450 for her services as
Subchapter V trustee and will be reimbursed for work-related
expenses incurred.    

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

The Subchapter V trustee can be reached at:

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

                   About Bellareed Construction

Bellareed Construction & Remodeling, LLC filed a petition under
Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. N.D. Ga.
Case No. 23-61726) on Nov. 28, 2023, with up to $50,000 in assets
and up to $1 million in liabilities.

Judge Wendy L. Hagenau oversees the case.

W. Douglas Jacobson, Esq., at the Law Offices of Douglas Jacobson,
LLC represents the Debtor as bankruptcy counsel.


BENFIELD REAL ESTATE: Unsecureds Will Get 100% of Claims in Plan
----------------------------------------------------------------
Benfield Real Estate, LLC, filed with the U.S. Bankruptcy Court for
the Western District of Texas a Plan of Reorganization for Small
Business under Subchapter V dated December 4, 2023.

The Debtor is in the business of construction and sale of spec
homes.

The Debtor has been in business for more than 17 years and has
never failed to complete a home. However, two lenders holding liens
on properties owned by the Debtor which are under construction
posted the projects for non-judicial foreclosure sales when their
notes matured, which caused another lender to also post projects it
was funding for non-judicial foreclosure sales.

The Debtor thus filed this case to avoid the foreclosure of five of
its properties. The Debtor's representatives believe that the
Debtor would be in a position to pay off all of its debt, including
all unsecured debt, if provided with adequate financing and given
the time needed to complete the projects and sell the properties.

Debtor owns seven properties which are under various phases of
construction. Two of the properties are under pending contracts for
sale, with closings possible within 30-90 days of obtaining a DIP
financing loan.

To facilitate implementation of this Plan, the Debtor's
representatives have worked on obtaining short-term DIP financing
to assist in completing construction on the properties. The Court
has entered an order authorizing the Debtor to move forward, on an
interim basis, with an entity known as Legalist, Inc., to provide a
DIP loan of up to $2,200,000.00 which would allow the Debtor
funding needed to implement this Plan. Under the proposed terms, it
is anticipated that the Debtor would net $2,106,500.00 at the
closing of the loan.

It is estimated that the Debtor would need to allocate
approximately $20,000.00 for administrative claims and $380,000.00
to complete construction of the seven properties. This would leave
approximately $1,706,500.00 to immediately satisfy the secured
claims of lenders holding recorded deeds of trust against the
properties. The Debtor would repay Legalist with the proceeds from
the sale of each home within 12 months of the effective date of the
DIP loan out of the proceeds from the closing of the sale of each
property. The ad valorem taxing entities and any holder(s) of a
mechanics' lien(s) would be paid at closing from the sale of each
property against which such entities maintain valid liens. Once
such claims are satisfied, the remaining proceeds would be used to
satisfy the claims of unsecured creditors on a pro rata basis.

The Debtor's financial projections show that the Debtor believes it
will have projected disposable income of $418,163.62. The final
Plan payment is expected to be paid in or around February, 2025.

This Plan of Reorganization proposes to pay creditors of the Debtor
from: (1) Proceeds from DIP financing; and (2) the cash flow
generated from the operations of the company after payment of the
DIP loan, administrative and priority claims.

It is estimated that non-priority unsecured creditors holding
allowed claims will receive distributions, which the proponent of
this Plan has valued at approximately 100 cents on the dollar;
however, this amount is dependent upon such factors as: (1) The
amount of any unsecured deficiency claims which may be filed and
allowed in the case; (2) the final sales price of each property and
actual closing costs required to be paid; (3) the time it takes to
complete and sell each property; (4) actual amounts of property
taxes owed at closing; (5) potential increases in material or labor
costs; and (6) any additional interest or financing costs incurred.
This Plan also provides for the payment of administrative and
priority claims.

Class 9 consists of Allowed Unsecured Claims (including
undersecured claims and deficiency balances owed after disposition
of collateral). All Creditors holding Allowed Non-Priority
Unsecured Claims shall be paid a Pro Rata share of the funds
remaining from the sale of the properties owned by the Debtor after
payment of: (1) Allowed Administrative and Priority Claims; (2)
Allowed Secured Claims in the amounts set forth above; and (3) All
sums due to Legalist, Inc. or its designee or assignee pursuant to
its DIP Financing Agreement with the Debtor. Based upon current
projections, Debtor believes the payments to unsecured creditors
would be approximately 100% of the Allowed amount of each claim;
however, this estimate is subject to the factors identified. This
Class is impaired.

All Equity Holders shall retain their membership interests in the
Reorganized Debtor.

This Plan is based upon the distributions to Creditors by the
Debtor, at its option, by means of one or more of the following:
(a) cash presently held by the Debtor and cash to be acquired
through the operation of its business including cash generated from
the contracts the Debtor is currently under and those contracts
that the Debtor may enter into at a later date; and (b) collection
of any accounts receivable.

A full-text copy of the Plan of Reorganization dated December 4,
2023 is available at https://urlcurt.com/u?l=iITcmt from
PacerMonitor.com at no charge.

Attorney for the Debtor:

     H. Anthony Hervol, Esq.
     LAW OFFICE OF H. ANTHONY HERVOL
     22211 IH-10 West, Suite 1206-168
     San Antonio, TX 78257
     Telephone: (210) 5222-9500
     Facsimile: (210) 5222-0205
     Email: hervol@sbcglobal.net

                   About Benfield Real Estate

Benfield Real Estate, LLC, is engaged in activities related to real
estate.

Benfield Real Estate, LLC filed its voluntary petition for relief
under Chapter 11 of the Bankruptcy Code (Bankr. W.D. Tex. Case No.
23-51209) on Sep. 4, 2023.  The petition was signed by James F.
Benfield as member.  At the time of filing, the Debtor estimated $1
million to $10 million in assets and liabilities.

Judge Craig A. Gargotta presides over the case.

H. Anthony Hervol, Esq., at the LAW OFFICE OF H. ANTHONY HERVOL, is
the Debtor's counsel.


BETHELITE COMMUNITY: Case Summary & Nine Unsecured Creditors
------------------------------------------------------------
Debtor: Bethelite Community Baptist Church Inc.
        36-38 West 123rd Street
        New York, NY 10027

Business Description: The Debtor is a tax-exempt religious
                      organization.

Chapter 11 Petition Date: December 12, 2023

Court: United States Bankruptcy Court
       Southern District of New York

Case No.: 23-11984

Judge: Hon. Martin Glenn

Debtor's Counsel: Mark E. Cohen, Esq.
                  PRYOR & MANDELUP, L.L.P.
                  675 Old Country Road
                  Westbury, NY 11590
                  Tel: 516-997-0999
                  Fax: 516-333-7333
                  Email: mec@pryormandelup.com

Total Assets: $5,727,590

Total Liabilities: $6,969,195

The petition was signed by Pastor James Manning as pastor and
manager.

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

https://www.pacermonitor.com/view/YGK4GZQ/Bethelite_Community_Baptist_Church__nysbke-23-11984__0001.0.pdf?mcid=tGE4TAMA


BOY SCOUTS: 2 Claimant Firms Get Clearance for Payment from Estate
------------------------------------------------------------------
Evan Ochsner of Bloomberg Law reports that two Boy Scouts of
America plaintiff law firms are poised to receive $3.5 million in
fee and expense reimbursement from the organization's bankrupt
estate a day after a judge rejected a similar request from other
law firms.

Pfau Cochran Vertetis Amala PLLC and The Zalkin Law Firm PC made
specific and tangible changes to the Boy Scouts bankruptcy that led
to benefits for sex abuse survivors beyond their own clients, Judge
Laurie Selber Silverstein of the US Bankruptcy Court for the
District of Delaware said in a letter ruling Wednesday, December 6,
2023.

                  About Boy Scouts of America

The Boy Scouts of America -- https://www.scouting.org/ -- is a
federally chartered non-profit corporation under title 36 of the
United States Code.  Founded in 1910 and chartered by an act of
Congress in 1916, the BSA's mission is to train youth in
responsible citizenship, character development, and self-reliance
through participation in a wide range of outdoor activities,
educational programs, and, at older age levels, career-oriented
programs in partnership with community organizations.  Its national
headquarters is located in Irving, Texas.

The Boy Scouts of America and affiliate Delaware BSA, LLC, sought
Chapter 11 protection (Bankr. D. Del. Lead Case No. 20-10343) on
Feb. 18, 2020, to deal with sexual abuse claims.

Boy Scouts of America was estimated to have $1 billion to $10
billion in assets and at least $500 million in liabilities as of
the bankruptcy filing.

The Debtors have tapped Sidley Austin LLP as their bankruptcy
counsel, Morris, Nichols, Arsht & Tunnell LLP as Delaware counsel,
and Alvarez & Marsal North America, LLC, as financial advisor.
Omni Agent Solutions is the claims agent.

The U.S. Trustee for Region 3 appointed a tort claimants' committee
and an unsecured creditors' committee on March 5, 2020.  The tort
claimants' committee is represented by Pachulski Stang Ziehl &
Jones, LLP, while the unsecured creditors' committee is
represented
by Kramer Levin Naftalis & Frankel, LLP.


BREAD FINANCIAL: Fitch Assigns 'BB-(EXP) Rating on Sr. Unsec. Notes
-------------------------------------------------------------------
Fitch Ratings has assigned an expected long-term 'BB-(EXP)' rating
to Bread Financial Holdings' (BFH) upcoming issue of senior
unsecured notes. In addition, Fitch has assigned a 'BB-' long-term
rating to BFH's $500 million, 7.0% senior unsecured notes due
January 2026.

The final rating on the new issuance is subject to the receipt of
final documentation conforming to information already received.

The notes will be fixed rate, with the amount, interest rate and
maturity date to be determined. The net proceeds of the new
issuance are expected to be used to refinance other outstanding
debt obligations.

KEY RATING DRIVERS

The expected long-term rating on BFH's new senior unsecured bond
and the outstanding 2026 notes are equalized with BFH's Long-Term
Issuer Default Rating (IDR) as the default risk on the notes is the
same as that of the holding company.

RATING SENSITIVITIES

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

- A downgrade of BFH's Long-Term IDR would lead to a downgrade of
the expected senior unsecured long-term rating and 2026 notes'
rating.

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

- An upgrade of BFH's Long-Term IDR would lead to an upgrade of the
expected senior unsecured long-term rating and 2026 notes' rating.

ESG CONSIDERATIONS

Bread Financial Holdings has an ESG Relevance Score of '4' for
Customer Welfare - Fair Messaging, Privacy, and Data Security due
to its exposure to compliance risks including fair lending
practices, debt collection practices, and consumer data protection,
which has a negative impact on the credit profile, and is relevant
to the rating in conjunction with other factors.

Bread Financial Holdings has an ESG Relevance Score of '4' for
Financial Transparency. Due to Bread's non-BHC status for
regulatory purposes, Bread has exposure to quality of financial
reporting and auditing processes which, in combination with other
factors, impacts the rating.

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

   Entity/Debt             Rating           
   -----------             ------           
Bread Financial
Holdings, Inc.

   senior unsecured      LT BB-(EXP) Expected Rating

   senior unsecured      LT BB-      New Rating


BREAD FINANCIAL: S&P Assigns 'BB-' LT Rating on Unsecured Notes
---------------------------------------------------------------
S&P Global Ratings assigned its 'BB-' long-term debt rating to
Bread Financial Holdings Inc.'s planned $500 million issuance of
senior unsecured notes due 2029. S&P believes the company will use
some of the proceeds from the planned issuance to retire a portion
of its outstanding debt that is unrated.

S&P also assigned its 'BB-' long-term debt rating to Bread's
outstanding $500 million of 7.00% senior unsecured notes due 2026.

S&P's issuer credit rating on Bread Financial Holdings balances its
niche market position as a leading private-label credit card lender
and its growing capital ratios against its limited market shares,
exposure to nonprime customers, and reliance on wholesale funding.



CANTON & COMPANY: Case Summary & 19 Unsecured Creditors
-------------------------------------------------------
Debtor: Canton & Company LLC
        8100 Sandpiper Circle
        Ste 110
        Baltimore, MD 21236

Business Description: Canton & Company is a healthcare growth and
                      strategic services firm.  Its comprehensive
                      suite of growth services includes Strategy &
                      Insights, Integrated Marketing Solutions,
                      and Performance Solutions.

Chapter 11 Petition Date: December 12, 2023

Court: United States Bankruptcy Court
       District of Maryland

Case No.: 23-19054

Debtor's Counsel: Daniel Staeven, Esq.
                  FROST LAW
                  839 Bestgage Drive Suite 400
                  Annapolis, MD 21401
                  Tel: 410-497-5947
                  Email: ann.jordan@askfrost.com

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

Estimated Liabilities: $1 million to $10 million

The petition was signed by Richard (Don) McDaniel, Jr., as
manager.

A full-text copy of the petition containing, among other items, a
list of the Debtor's 19 unsecured creditors is available for free
at PacerMonitor.com at:

https://www.pacermonitor.com/view/ASN6EHI/Canton__Company_LLC__mdbke-23-19054__0001.0.pdf?mcid=tGE4TAMA


CAPREF LLOYD: Court OKs $650,000 DIP Loan from Keystone
-------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware authorized
Capref Lloyd Center East, LLC to use cash collateral and obtain
postpetition financing, on an interim basis.

The Debtor is permitted to obtain postpetition financing of up to
$650,000 from Keystone Real Estate Lending Fund L.P. $150,000 will
be advanced to the Debtor on an interim basis.

The Debtor will have the option to request additional funding up to
$250,000 in amounts and upon terms and conditions set forth
therein, subject to the DIP Lender’s receipt of a revised or
incremental Budget for the amount and use of the Incremental
Funding proceeds.

The DIP facility is due and payable through the earliest of:

     1. June 1, 2024;
     2. the date of the closing of a sale of all or substantially
all of the Collateral;
     3. the effective date of a Chapter 11 plan confirmed pursuant
to an order entered by the Bankruptcy Court; and
     4. the occurrence and continuation of an Event of Default

The events that constitute an "Event of Default" include:

     1. the failure by the Debtor to obtain court approval of the
Interim DIP Order on or before December 11, 2023;
     2. the failure by the Debtor to obtain court approval of the
Final DIP Order on or before January 11, 2024;
     3. any filing by the Debtor seeking to vacate or modify the
entered DIP Orders over the objection of the DIP Lender;
     4. the failure by the Debtor to make any required payments or
comply with any deadline set forth therein;
     5. the filing by the Debtor of (or supporting any other party
in the filing of) any pleading seeking entry of an order by the
Bankruptcy Court granting any   superpriority claim or lien that is
senior to or pari passu with those granted to the DIP Lender
thereunder; and
     6. the granting of any superpriority claim or lien senior or
pari passu with those granted to the DIP Lender thereunder.

The Debtor and Keystone Real Estate Lending Fund L.P. entered in a
Prepetition Loan agreement and Secured Promissory Note before the
Petition Date. The Debtor was indebted to the lender in excess of
$10.699 million. The obligations were secured by a Deed of Trust,
Assignment of Rents, Security Agreement, and Fixture Filing. The
Prepetition Deed of Trust encumbers real property, buildings,
fixtures, and improvements. Cypress Acquisition Partners Retail
Fund, L.P. guaranteed payment and performance of the obligations
under a Limited Recourse Guaranty.

As adequate protection, the Prepetition Lender is granted an
additional and replacement valid, binding, enforceable,
non-avoidable, and automatically perfected, nunc pro tunc to the
Petition Date, postpetition security interests in and liens on the
DIP Collateral which Adequate Protection Liens will be subordinate
only to the DIP Liens and the Carve Out.

Pursuant to 11 U.S.C. section 507(b), the Prepetition Lender, is
granted an allowed superpriority administrative expense claim for
the diminution in the value of the Prepetition Collateral, which
claim will be junior only to the DIP Superpriority Claims and the
Carve Out.

A final hearing on the matter is set for January 9, 2024 at 1 p.m.

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

                     About CAPREF Lloyd

CAPREF Lloyd Center East LLC sought protection under Chapter 11 of
the U.S. Bankruptcy Code (Bankr. N.D. Texas Lead Case No. 23-11942)
on Dec. 4, 2023. In the petition signed by Todd Minnis as
authorized representative, the Debtors disclosed up to $1 million
to $10 million in assets and up to $10 million to $50 million in
liabilities.

The Hon. John T. Dorsey oversees the case.

The Debtor tapped Ashby & Geddes, P.A. as bankruptcy counsel, and
Lane Powell PC as corporate counsel.



CATALENT PHARMA: Moody's Rates New $500MM Incremental Loan 'Ba2'
----------------------------------------------------------------
Moody's Investors Service assigned a Ba2 rating to Catalent Pharma
Solutions, Inc. proposed $500 million incremental senior secured
first lien term loan B4 due 2028. There are no changes to
Catalent's existing ratings including the B1 Corporate Family
Rating, B1-PD Probability of Default Rating, Ba2 rating to senior
secured revolving credit facility, senior secured term loan B3 and
B3 rating to senior unsecured notes. The Speculative Grade
Liquidity Rating of SGL-2 remains unchanged. Also the outlook is
unchanged at stable.

Proceeds of the new incremental $500 million first lien term loan
(due 2028) will be used to repay the amount outstanding on
Catalent's revolving credit facility. The new term loan will
bolster Catalent's liquidity as it reduces the drawn balance on its
$1.1 billion revolving credit facility.

RATINGS RATIONALE

The B1 CFR rating reflects Catalent's high financial leverage and
modest free cash flow relative to debt. The B1 CFR rating is also
constrained by the volatility inherent in the pharmaceutical
contract manufacturing industry, and high fixed costs that can
create volatility in net profit and cash flows. The rating also
reflects Catalent's acquisitive strategy and willingness to
increase leverage to fulfill its expansion strategy.

Catalent's credit profile is supported by its good size and scale,
breadth of services and strong reputation as one of the largest
contract development management organizations (CDMOs) globally. The
company also maintains a diversified customer base and commands a
large library of patents, know-how, and other intellectual property
that raise barriers to entry and enhance margins. While managing
expansion has proved challenging as COVID-related revenue sharply
declined in 2023, recent investment in capacity will support future
earnings growth.

The stable outlook reflects Moody's expectation that leverage will
improve over the next 12 to 18 months, and that adjusted
debt/EBITDA will be approaching 5.5x.

The Speculative Grade Liquidity Rating of SGL-2 reflects Moody's
expectation that Catalent's liquidity will remain good over the
next 12-18 months. Liquidity is supported by a cash balance of $209
million as of September 30, 2023 and quasi relatively full
availability on its the company's $1.1 billion revolving credit
facility (due 2027), pro forma for the proposed transaction. While
recent contraction in earnings and operating cash flow has reduced
the headroom under the revolver 6.5x leverage covenant, but Moody's
expects Catalent to remain in compliance with its leverage
covenant.

ESG CONSIDERATIONS

Catalent's CIS-4 indicates the rating is lower than it would have
been if ESG risk exposures did not exist. Catalent's exposure to
governance risk considerations (G-4) is a constraining factor for
the rating. This reflects a material increase in governance risk
following the April 2023 profit warning, internal control issues
and delays in financial reporting (now resolved). Catalent has also
significant exposure to social risk considerations (S-4) which is
another factor constraining the rating. Social risk considerations
resolve around responsible production, and specifically product
quality and supply chain reliability.

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

The ratings could be upgraded if Catalent reduces financial
leverage such that Moody's expects debt to EBITDA to reach below
4.5 times. Organic growth that results in increased scale and
improved business line diversity, would also support an upgrade.

The ratings could be downgraded if Moody's expects Catalent's
financial leverage will not improve and is sustained around 5.5
times. The ratings could also be downgraded if Catalent's earnings
further deteriorate, if Catalent encounters further internal
control issues, or if the recent capex strategy fails to generate
robust organic revenue growth. The ratings could be downgraded if
the company adopts a more aggressive financial strategies such as
large acquisitions or dividend payments.

Catalent Pharma Solutions, Inc. is a leading contract development
and manufacturing organization (CDMO) company and a global provider
of advanced delivery technologies and development and manufacturing
solutions for drugs; protein, cell, and gene therapy biologics; and
consumer health products. These include the company's formulation,
development and manufacturing of softgels and other products for
the prescription drug and consumer health industries. Catalent
Pharma Solutions, Inc. reported revenue of approximately $4.3
billion for the LTM period ended September 30, 2023.

The principal methodology used in this rating was Business and
Consumer Services published in November 2021.


CATALENT PHARMA: S&P Rates New $500MM First-Lien Term Loan 'BB-'
----------------------------------------------------------------
S&P Global Ratings assigned its 'BB-' issue-level rating and '2'
recovery rating to Catalent Pharma Solutions Inc.'s proposed $500
million first-lien term loan due 2028. The '2' recovery rating
indicates S&P's expectation for substantial (70%-90%; rounded
estimate: 80%) recovery in the event of a payment default. The
company plans to use the net proceeds from the term loan to pay
down the majority of its outstanding revolver borrowings.

S&P said, "At the same time, we revised our issue-level and
recovery ratings on Catalent's existing first-lien term loan to
'BB-' and '2' (rounded estimate: 80%), respectively. The lower
recovery rating reflects our expectation for a higher proportion of
secured debt in the company's capital structure under our simulated
default scenario, given its increased term loan balance. Our 'B'
issue-level rating and '5' recovery rating on Catalent's unsecured
debt remains unchanged. We view this transaction as leverage
neutral.

"Our 'B+' issuer credit rating and negative outlook on Catalent
Inc. are unchanged. Our rating reflects its position as a large
global contract development and manufacturing organization (CDMO)
and its participation in a market that we believe benefits from
favorable long-term dynamics. However, the company's revenue and
EBITDA have contracted significantly because the ramp-up of its
newer modalities did not offset the decline in its COVID-19-related
sales. In addition, Catalent experienced operational issues at some
of its manufacturing sites, which negatively affected its margins.
Our ratings also reflect our expectation that the company's
leverage will remain high.

"We expect Catalent will increase its revenue, excluding COVID-19
sales, by the low-teens percent, supported by the expansion of its
biologics business following the implementation of operational
improvements at its facilities. We also expect the company will
maintain stable EBITDA margins as the benefits from its operational
improvements are offset by higher costs related to FDA inspections
and lower utilization of its facilities in the first half of the
year. We anticipate this will lead to similar EBITDA levels and
anticipate Catalent's leverage will remain in the high-6x area in
fiscal year 2024 before improving to the high-5x area in 2025 on
the higher utilization levels at its facilities."

ISSUE RATINGS--RECOVERY ANALYSIS

Key analytical factors

-- Catalent's capital structure comprises a $1.1 billion revolving
credit facility (assumed 85% drawn in a default scenario), $1.95
billion of first-lien term loans, $1.7 billion of unsecured
dollar-denominated notes, and $872 million of unsecured
euro-denominated notes.

-- S&P's simulated default scenario considers a default in 2027
precipitated by regulatory suspensions, increased competition, and
lower capacity utilization, which significantly reduce the
company's EBITDA.

-- S&P believes Catalent would reorganize in the event of a
default, given its strong customer relationships and the importance
of its products to its customers' supply chains. Furthermore, S&P
believes its lenders would achieve greater recovery through a
reorganization rather than a liquidation.

-- S&P values the company on a going-concern basis using a 6x
multiple of our projected emergence EBITDA. The 6x multiple
reflects Catalent's strong reputation with its customers and is
consistent with the multiples S&P uses for its CDMO peers.

-- The senior secured credit facilities benefit from a downstream
guarantee from Catalent's holding company parent, an upstream
guarantee from its wholly owned U.S. restricted subsidiaries, and a
pledge of 65% of the equity interests in its foreign subsidiaries.

Simulated default assumptions

-- Year of default: 2027
-- Emergence EBITDA: $454 million
-- EBITDA multiple: 6x
-- Gross enterprise value (EV): $2.7 billion

Simplified waterfall

-- Net emergence value (after 5% administrative costs): $2.6
billion

-- Valuation split (obligors/nonobligors): 60%/40%

-- Total value available to first-lien debtholders: $2.3 billion

-- Secured first-lien debt at default: $2.9 billion

    --Recovery expectations: 70%-90% (rounded estimate: 80%)

-- Total value available to unsecured claims: $363 million

-- Senior unsecured debt claims: $2.6 billion

    --Recovery expectations: 10%-30% (rounded estimate: 10%)

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



CD&R HYDRA: S&P Downgrades ICR to 'B-' on Nearing Maturities
------------------------------------------------------------
S&P Global Ratings lowered its issuer credit rating on
Illinois-based fluid-power and motion-control distributor CD&R
Hydra Buyer Inc. (doing business as SunSource) to 'B-' from 'B'.

S&P said, "At the same time, we lowered our issue-level rating on
the company's $750 million first-lien term loan to 'B-' from 'B'
and our issue-level rating on the $115 million second-lien term
loan to 'CCC' from 'CCC+'. Our '3' recovery rating on the
first-lien and '6' recovery rating on the second-lien term loans
remain unchanged.

"The CreditWatch developing placement reflects that we could lower
our ratings over the next few months if SunSource does not
refinance its first-lien term loan. Alternatively, we could raise
our ratings if the company refinances its term loan in a manner
that alleviates refinancing risk, liquidity pressure, and preserves
our expectation of steady cash flow and good credit ratios."

The downgrade reflects the heightened refinancing risk related to
the upcoming maturity of SunSource's first-lien term loan. Elevated
borrowing costs in 2023 have made it more difficult for many
companies with upcoming debt maturities to seek refinancing in the
high-yield markets. While SunSource has demonstrated its ability to
significantly deleverage over the past 24 months (to about 2.9x on
an S&P Global Ratings-adjusted basis as of Sept. 30, 2023), the
longer the company waits to refinance, the greater the risk that
capital market conditions could weaken further, limiting the
company's options and putting more pressure on a successful
refinancing. S&P said, "Our rating action also takes into
consideration that the ABL's springing provision causes the credit
facility to become due 91 days prior to the term loan, limiting
internal liquidity sources. Despite good credit ratios, our rating
and CreditWatch placement incorporate the rising financial and
liquidity risks as the time to maturity shortens."

S&P said, "We anticipate SunSource's operating performance will
remain resilient amid a softer demand environment. For the third
quarter ended Sept. 30, 2023, the company experienced a slight
revenue decline compared to its prior year period due to weaker
demand in micro-electronics and lower original equipment
manufacturer (OEM) capacity utilization. Despite strong last
12-month (LTM) revenue growth of about 15%, we anticipate this
emerging softness could carry over into the first half of 2024.
However, the company continues to improve its margin profile due to
pricing increases and continuous cost-structure initiatives, which
we expect will lead to an S&P Global Ratings-adjusted margin
improvement of about 150 basis points (bps) and leverage in the
mid-to-high 2x range at the end of 2023. We also expect SunSource
to generate free operating cash flows (FOCF) in excess of $100
million due to strong earnings from operations and improved working
capital.

"The CreditWatch developing placement reflects the uncertainty of
the timing surrounding SunSource's refinancing of its term loan due
Dec. 11, 2024. We will look to resolve our CreditWatch on the
company once we have more information regarding the timing of a
refinancing and details of its new capital structure. More
specifically, we could lower our ratings by one or more notches if
SunSource is unable to refinance its upcoming debt maturities over
the next few months. Alternatively, we could raise our rating on
SunSource if the company is able to successfully refinance its term
loan and improve its liquidity position such that we expect credit
ratios will remain in line with 'B'-rated peers.

"Environmental factors are a moderately negative consideration in
our credit rating analysis of SunSource, an industrial distributor
of fluid power and motion control products to end users in
diversified industrial markets, which include upstream and
downstream oil and gas, as well as mining. Although the past
downturn in energy markets reduced the company's overall exposure,
we anticipate these end markets will continue to represent a
meaningful portion of revenue. We believe a shift to cleaner energy
could result in demand lowering over the long term.

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



CELSIUS NETWORK: Faces Legal Obstacles on Shift to Bitcoin Mining
-----------------------------------------------------------------
Todd Maiden of The Currency Analytics reports that in a surprising
turn of events, Celsius Network, a prominent player in the
cryptocurrency lending domain, finds itself entangled in legal
complexities.  A U.S. bankruptcy judge's recent suggestion has cast
a shadow over the company's intended shift towards a Bitcoin mining
venture after undergoing bankruptcy proceedings.

During a court session held on Nov. 30, 2023, Judge Martin Glenn,
presiding over Celsius Network's Chapter 11 bankruptcy, raised
concerns about the company's abrupt change in direction.  This
suggestion implies that Celsius might need to reconvene its
creditors for a new vote, considering the substantial deviation
from the originally approved business strategy.

The judge emphasized the need for Celsius to adhere to Securities
and Exchange Commission (SEC) regulations, echoing concerns
repeatedly conveyed to the company.

Central to Judge Glenn's apprehensions is Celsius' pivot to a
Bitcoin mining business, a stark contrast from the business model
initially sanctioned by creditors. This shift could potentially
spark significant opposition from these creditors, complicating the
company's trajectory post-bankruptcy.

Celsius recently unveiled plans to exclusively focus on Bitcoin
mining, a decision shaped by the SEC's reservations about its
original business operations. While not explicitly opposing
Celsius' bankruptcy plan, the SEC has exhibited reluctance in
endorsing the company's crypto lending and staking activities,
previously subject to criticism.

Celsius attorney Chris Koenig argued during the hearing that the
court-approved bankruptcy plan granted sufficient flexibility for
the company's shift to mining. Koenig contended that a new vote
from creditors was unnecessary, asserting that the revised plan
would be equally advantageous for them.

However, objections have emerged from two Celsius customers, who,
without legal representation, have voiced their dissent in court
documents.  Their stance advocates for Celsius to opt for complete
liquidation instead of transitioning.

Celsius Network's journey to this pivotal moment has been
tumultuous. Initiated by filing for Chapter 11 protection in July
2022, the move followed the path of several other crypto lenders
that faced collapse amidst the industry’s explosive growth during
the COVID-19 pandemic.

What sparked this turn of events?  It seems the Securities and
Exchange Commission's (SEC) skepticism regarding Celsius' initial
crypto lending and staking business heavily influenced the
company's pivot towards Bitcoin mining. Judge Glenn emphasized the
paramount importance of adhering to SEC regulations, a point
reiterated time and again to Celsius.

The heart of the matter lies in Celsius' decision to narrow its
focus post-bankruptcy solely to Bitcoin mining, a stark contrast to
the direction agreed upon by creditors. This diversion could spark
significant opposition among those who had previously greenlit a
different trajectory for the company.

The revised plan, outlined by Koenig, involves releasing $225
million in cryptocurrency assets from external investors, notably
the Fahrenheit consortium.  Under this proposal, Celsius creditors
are projected to receive a 67% recovery rate, surpassing the 61.2%
rate from the prior arrangement involving the Fahrenheit
consortium.

The post-bankruptcy Bitcoin mining venture is slated to be managed
by US Bitcoin Corp, a member of the consortium, which includes
Arrington Capital.

These recent court developments have positioned Celsius Network at
a critical juncture. As the company navigates its bankruptcy
proceedings, the transition to a Bitcoin mining-centric operation
presents both opportunities and challenges.

The decision to alter business models, aimed at benefiting
creditors, faces scrutiny in court and necessitates cautious
navigation in line with regulatory expectations, particularly
considering the SEC's cautious stance on crypto lending and
staking.

Celsius' move towards Bitcoin mining appears strategic, an attempt
to adapt to the evolving regulatory landscape. However, the success
of this transition hinges on approval from both the court and the
creditors, making the impending proceedings crucial for Celsius
Network's future.

                       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.


CHARLESTON CHILDREN'S: Case Summary & 20 Top Unsecured Creditors
----------------------------------------------------------------
Debtor: Charleston Children's Therapy Center, LLC
        9565 Highway 78 Building 700 Ste 102
        Ladson, SC 29456

Business Description: The Debtor is a multidisciplinary pediatric
                      practice headquartered in the Charleston
                      area.  Its team consists of trained
                      therapists who are dedicated to ongoing
                      education and the acquisition of advanced
                      pediatric skills.  The Debtor provides
                      services both inside the clinic and in the
                      patient's home.

Chapter 11 Petition Date: December 11, 2023

Court: United States Bankruptcy Court
       District of South Carolina

Case No.: 23-03821

Judge: Hon. Elisabetta Gm Gasparini

Debtor's Counsel: W. Harrison Penn, Esq.
                  PENN LAW FIRM LLC
                  1517 Laurel Street
                  Columbia, SC 29201
                  Tel: (803) 771-8836
                  Email: hpenn@mccarthy-lawfirm.com

Estimated Assets: $0 to $50,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by the Debtor's Manager, Tempo Health
Group, LLC, by James Butcher, its president.

A full-text copy of the petition containing, among other items, a
list of the Debtor's 20 largest unsecured creditors is available
for free at PacerMonitor.com at:

https://www.pacermonitor.com/view/6SJXF6Q/Charleston_Childrens_Therapy_Center__scbke-23-03821__0001.0.pdf?mcid=tGE4TAMA


CHS INC: Fitch Assigns B+ Rating on Proposed First Lien Sec. Notes
------------------------------------------------------------------
Fitch Ratings has assigned a 'B+'/'RR1' instrument rating to the
first-lien secured notes issuance proposed by CHS/Community Health
Systems, Inc. (CHS), in line with Fitch's rating on CHS's existing
first-lien senior secured notes, to which the proposed notes rank
pari passu.

Fitch recently downgraded its Long-Term Issuer Default Rating (IDR)
on parent Community Health Systems, Inc. and its subsidiary, CHS,
to 'CCC+' from 'B-'. This action reflected reduced EBITDA and FCF
estimates for CHS driving Fitch's near-term expectation of the
company sustaining Fitch-defined EBITDA leverage above the
7.0x-8.0x range appropriate for a 'B-' IDR. While improved volumes
and normalizing of temp labor costs helped EBITDA margins rebound
from pandemic-driven lows of about 10.5% in 2022 to 11.5%-12.0% in
2023, Fitch now expects more limited progress on margins and FCF,
reducing forecasted debt reduction, for 2024-2026.

KEY RATING DRIVERS

Higher for Longer Leverage Raises Refi Risk: Reduced 2023 EBITDA
and FCF expectations and Fitch's revised 2024-2025 EBITDA Leverage
and FCF estimates are no longer consistent with a 'B-' IDR, with
Fitch-defined leverage now expected to exceed that rating's
7.0x-8.0x sensitivity range through YE 2025, rather than recapture
it in 2024 as Fitch previously expected. Fitch further sees an
elongated period of elevated leverage boosting risk of distressed
debt exchanges, especially amid weaker capital markets.

That said, Fitch takes a positive view of CHS pursuing a debt
refinancing transaction to help reduce its nearest maturing debt -
the $2.1 billion first-lien senior secured notes due 2026 - and its
recent use of divestiture proceeds to reduce debt by about $400
million via privately-negotiated and open-market purchases (split
approximately 2/3-1/3 between first-lien bonds and second-lien
bonds), rather than via distressed debt exchanges.

Profitability in Flux: After years of repositioning its facility
portfolio via divestitures and improving its cost structure, CHS
recaptured mid-teens EBITDA margins (before NCI distributions) in
2021 (closer to the levels of its higher-rated peers), only for
COVID pressures to set margins back to about 10.5% in 2022. With
post-pandemic temp staffing costs normalizing, recruitment and
retention trends improving and volumes rebounding, EBITDA margins
have improved to 11.5%-12.0% in 2023, which is positive but
somewhat below its previous expectations.

Fitch currently expects margins to improve modestly but remain
rangebound near term, with pricing outpaced by labor cost inflation
and with other operating costs remaining elevated amid adverse
trends in medical specialist expense. This compares with its
previous expectation of further operating improvement driving more
rapid deleveraging.

Free Cash Flow Below Expectations: Fitch has reduced its estimates
for CFO-CapEx from 2%-3% of debt to 0%-1% of debt, which is more in
line with that observed from 'CCC+' IDRs. The reduction reflects
reduced EBITDA growth expectations and higher-than-expected cash
tax obligations and working capital uses, including payments for
legal matters, and other timing-related issues (billing delays
related to physician insourcing and clinical system upgrades) and
accounting optics (deferred compensation payments in CFO that were
fully funded by sales of investments).

With negative FCF expected in 2023, clearly lagging Fitch's
forecast, Fitch's reduced FCF expectations are directionally
consistent with CHS reducing its 2023 operating cash flow guidance
from $675 million-$825 million to $400 million-$450 million.
Moreover, with Fitch now expecting lower FCF over its forecast,
Fitch has reduced its expectations for FCF driving debt reduction
in 2024-2026. While not reflected within its forecast, CHS could
pursue and complete further deleveraging divestitures, including
that of two North Carolina hospitals for $320 million, which has
drawn an FTC review rendering its closing uncertain.

DERIVATION SUMMARY

The company's 'CCC+' Long-Term IDR reflects meaningfully higher
leverage relative to that of its closest hospital industry peers
Tenet Healthcare Corp. (THC; 'B+'/Stable), Universal Health
Services, Inc. (UHS; 'BB+'/Stable) and HCA Healthcare, Inc. (HCA).
With Fitch-defined EBITDA leverage expected to remain over 8.0x
near term, Fitch sees CHS debt entailing higher risk of potential
distressed debt exchanges, with refinancing of material debt due in
2026-2027 potentially requiring access to favorable capital markets
and a lower interest rate environment.

CHS has a weaker operating profile than its higher-rated hospital
industry peers, including THC, UHS and HCA. By contrast, CHS's
assets are generally located in smaller urban markets, suburban
markets and non-urban markets with organic growth prospects that
Fitch views as less robust. Fitch now expects CHS's margins to
improve only modestly in the near term, with its markets
potentially experiencing elevated labor expense and medical
specialist costs, as well as potentially higher exposure to
uninsured volumes as Medicaid redeterminations take hold in 2024
and beyond. Fitch expects CHS to continue divesting hospitals to
help reduce debt while focusing on optimizing its operating costs.

The company's 'CCC+' IDR also reflects financial flexibility that
is more constrained than that of its higher-rated hospital peers.
This includes lower interest coverage reflecting the greater
structural burden of its highly-leveraged capital structure, and
recent shortfalls in generating FCF, especially relative to the
considerable FCF generated by its closest peers, despite solid
volume growth and considerable reductions in temporary staffing
costs in 2023.

The IDRs of CHS/Community Health Systems Inc. and Community Health
Systems Inc. are the same due to strong legal and operational ties
between the entities. In applying its Parent and Rating Subsidiary
Linkage Criteria, Fitch applies the weak parent/strong subsidiary
approach as the only asset of parent Community Health Systems, Inc.
is its 100% ownership of CHS/Community Health Systems Inc., which
is the indirect owner of all CHS operating subsidiaries. Fitch
believes legal ring-fencing, access and control are open and
therefore assesses the issuers on a consolidated basis.

KEY ASSUMPTIONS

- Revenue growth of 5% in 2023 and 4%-5% in 2024, both
ex-divestitures, then 3% in 2025-2026, driven by an even split of
volume growth and mix-adjusted pricing upside;

- EBITDA margin (before NCI distributions) improving by 130 bps to
11.7% in 2023, increasing about 20 bps to 11.9% in 2024-2025, and
then about 20 bps to 12.1% in 2026, reflecting top line growth and
cost optimization efforts, offset by labor cost inflation and
increases in medical specialist expense;

- Negative FCF in 2023 turning modestly positive in the range of
0%-1% of revenue thereafter (with CapEx at 3.8% of revenue);

- EBITDA Leverage (after NCI distributions) of 8.6x at YE 2023,
declining to 8.4x by YE 2024, 8.1x by YE 2025 and 7.6x by YE 2026;

- Debt repayment, net of about $150 million in estimated revolver
borrowings, of about $250 million in 2023 (using cash sourced from
2023 divestitures), none in 2024-2025, and about $200 million in
2026.

RECOVERY ANALYSIS

Fitch estimates an enterprise value (EV) on a going concern (GC)
basis of $8.8 billion for CHS, after a deduction of 10% for
administrative claims. The EV assumption is based on
post-reorganization EBITDA after distributions to noncontrolling
interests of $1.4 billion and a 7.0x EV/EBITDA multiple, the latter
reflecting a history of acquisition multiples for large hospital
operators with business profiles similar to CHS of 7.0x-10.0x since
2006 and the average public trading multiple (EV/EBITDA) of its
peer group (HCA, UHS and THC), which has ranged from 6.5x to 9.5x
since 2011.

GC EBITDA of $1.4 billion (net of NCI distributions) is just above
Fitch's 2023 EBITDA expectation of $1.3 billion (net of NCI
distributions). This reflects Fitch's view that current EBITDA
levels, were they to persist, could potentially portend a
restructuring and that modestly higher levels of EBITDA should be
achievable from its asset base. No adjustment to GC EBITDA or
reduction to outstanding debt was assumed, despite Fitch's
expectation that recent divestiture proceeds would be used to repay
debt, as sensitivity testing revealed no change in notching would
result therefrom.

GC EBITDA further reflects Fitch's view that the spike in temporary
staffing costs and the constraints of staffing shortages on volume
growth that burdened EBITDA in 2022 are unlikely to be durable over
several years, as operating improvement in 2023 thus far suggests.
Fitch's GC EBITDA estimate also considers attributes of the acute
care hospital sector, including the high share of revenue generated
by government payors (30%-40%) posing risk of unforeseen regulatory
changes, the legal obligation to treat uninsured patients creating
a potentially material unfunded mandate, and the highly-regulated
nature of the hospital industry generally.

RATING SENSITIVITIES

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

- An expectation of Fitch-defined EBITDA Leverage sustained at 8.0x
or below;

- CFO-CapEx/Debt turning positive and sustained at levels above
1.5%.

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

- An expectation of a near-term distressed debt exchange (as
defined by Fitch) or that a default, bankruptcy or restructuring is
increasingly likely as CHS's nearest-term debt maturity
approaches;

- Accelerating negative CFO-CapEx/Debt.

LIQUIDITY AND DEBT STRUCTURE

Liquidity stood at $770 million as of Sept. 30, 2023, which Fitch
views as supportive of the credit in the near term. This includes
$91 million in cash and $679 million available under its $1.0
billion ABL revolver due Nov. 2026 ($230 million drawn with $82
million in LCs). In addition to the revolver, CHS's nearest debt
maturity is the 8.000% first-lien senior secured notes due 2026.
Favorably, all proceeds from CHS's proposed first-lien senior
secured bond offering, if completed, would be used to redeem an
equivalent amount of first-lien senior secured notes due 2026, $2.1
billion of which were outstanding at Sept. 30.

ISSUER PROFILE

CHS/Community Health Systems, Inc., a subsidiary of publicly traded
Community Health Systems, Inc. (CYH), is the one of the largest
for-profit operators of general acute care hospitals in the U.S. by
revenue, operating over 1,000 sites of care in 43 distinct markets
across 15 states, including 76 affiliated hospitals with over
12,000 beds as of Sept. 30, 2023. Community Health Systems offers
inpatient and outpatient medical and surgical services, including
general acute care, emergency care, critical care, general and
specialty surgery, internal medicine, obstetrics, diagnostic
services, psychiatric care and rehabilitation care, with a focus on
larger non-urban markets and selected urban markets.

ESG CONSIDERATIONS

CHS has an ESG Relevance Score of '4' for Exposure to Social
Impacts due to societal and regulatory pressures to constrain
growth in health care spending in the U.S. This dynamic has a
negative impact on the credit profile, and is relevant to the
rating in conjunction with other factors.

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

   Entity/Debt             Rating          Recovery   
   -----------             ------          --------   
CHS/Community Health
Systems, Inc.

   senior secured        LT B+  New Rating   RR1


CLINICAL TOXICOLOGY: Seeks to Hire Calaiaro Valencik as Counsel
---------------------------------------------------------------
Clinical Toxicology Laboratory LLC seeks approval from the U.S.
Bankruptcy Court for the Western District of Pennsylvania to employ
Calaiaro Valencik as its counsel.

The firm will render these services:

     (a) prepare the bankruptcy petition and attend the meeting of
creditors;

     (b) represent the Debtor at the meeting of creditors;

     (c) represent the Debtor in relation to acceptance or
rejection of executory contracts;

     (d) advise the Debtor of its rights and obligations in
connection with its Chapter 11 case;

     (e) represent the Debtor in relation to any motions to convert
or dismiss the case;

     (f) represent the Debtor in relation to any motions for relief
from stay filed by its creditors;

     (g) prepare a Chapter 11 plan for the Debtor;

     (h) prepare any objections to claims filed in the Debtor's
bankruptcy case; and

     (i) represent the Debtor in general.

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

     Donald R. Calaiaro $395
     David Z. Valencik  $350
     Andrew K. Pratt    $300
     Monica L. Locke    $250
     Emily M. Balla     $250
     Paralegal          $100

Calaiaro Valencik received a retainer of $15,000 from the Debtor.
The Debtor also provided the filing fee of $1,738.

David Valencik, Esq., an attorney at Calaiaro Valencik, disclosed
in a court filing that his firm is a "disinterested person" as that
term is defined in Section 101(14) of the Bankruptcy Code.

The firm can be reached through:

     David Z. Valencik, Esq.
     CALAIARO VALENCIK
     938 Penn Avenue, Suite 501
     Pittsburgh, PA 15222
     Telephone: (412) 232-0930
     Facsimile: (412) 232-3858
     Email: dvalencik@c-vlaw.com

             About Clinical Toxicology Laboratory

Clinical Toxicology Laboratory LLC is a Monessen forensic and
toxicology analyst.

Clinical Toxicology Laboratory sought relief under Chapter 11 of
the U.S. Bankruptcy Code (Bankr. W.D. Penn. Case No. 23-22405) on
November 8, 2023. In the petition filed by Amy J. Reisinger, as
president, the Debtor reports estimated assets between $50,000 and
$100,000 and estimated liabilities between $1 million and $10
million.

The Debtor is represented by Donald R. Calaiaro, Esq. at CALAIARO
VALENCIK.


COMMSCOPE HOLDING: Taps Moelis to Help With Debt Restructuring
--------------------------------------------------------------
Reshmi Basu of Bloomberg News reports that telecommunications
company CommScope Holding Co.  is getting debt restructuring advice
from Moelis & Co, according to people with knowledge of the matter,
as the firm wrestles with billions of long-term borrowings and
earnings weakness.

The telecommunications infrastructure company has been weighing
asset sales with a roster of advisers including Evercore Inc.,
Bloomberg News previously reported.  Moelis has also served as
adviser on the divestiture process, but its mandate has expanded to
include helping CommScope review options on how to address
near-term maturities, said the people, who asked not to be
identified discussing private matter.

                    About Commscope Holding Co.

Commscope Holding Co. operates as a holding company.  The Company,
through its subsidiaries, provides end-to-end solutions connecting
technology and wireless and wired networks.  CommScope Holding
serves customers worldwide.

                          *     *     *

As reported in the TCR, Moody's Investors Service downgraded
CommScope Holding's ratings including its Corporate Family Rating
to B3 from B2, its senior secured debt to B2 from B1 and its senior
unsecured debt to Caa2 from Caa1.  The downgrade reflects the
continued weak performance and uncertainty around timing of a
recovery in various operating segments and challenges addressing
significant debt maturities in 2025 and 2026.  The outlook is
negative.

Bloomberg report that CommScope and its creditors are assessing
options after a steep earnings miss plunged the company into
financial distress, according to people with knowledge of the
matter.  The company is reportedly getting advice from Evercore
Inc. and Latham & Watkins, among other advisers, on ways to shore
up its balance sheet.






COMMUNITY HEALTH: S&P Lowers ICR to 'SD' on Distressed Exchange
---------------------------------------------------------------
S&P Global Ratings lowered its issuer credit rating on Community
Health Systems Inc. to 'SD' (selective default) from 'CCC+' and its
issue-level ratings on the affected debt issues to 'D'.

S&P said, "At the same time, we assigned our 'B-' issue-level
rating and '2' recovery rating to the company's senior secured
first-lien notes due 2032. The '2' recovery rating indicates our
expectation for substantial (70%-90%; rounded estimate: 70%)
recovery in the event of a default. Community Health will use the
proceeds from these notes to refinance a portion of its existing
senior secured first-lien notes due 2026.

"We expect to raise our issuer credit rating on the company to
'CCC+' over the next few business days.

"The downgrade reflects our view that Community Health's latest
below-par debt repurchases constitute a selective default under our
criteria, given the company's heavy debt load and negative free
cash flow and our belief the investors received less value than
they were promised under the original securities. This is the fifth
time since 2018 that we have lowered issuer credit rating on the
company to 'SD'.

"As part of the transaction, Community Health repurchased
approximately $256 million of its senior-priority secured notes due
2029 and $147 million of its junior-priority secured notes maturing
in 2029 and 2030, for an aggregate amount of $305 million We view
the repurchase of these secured notes as a distressed transaction
because the noteholders received materially less value than they
were originally promised, the company's high leverage and
relatively low creditworthiness and because it repurchased a
significant portion of the outstanding senior priority secured
issue (almost a third of the outstanding issue's amount), leading
us to lower our issue-level rating on all three debt issues to
'D'.

"We plan to raise our issuer credit rating on Community Health to
'CCC+' and reassess our issue-level ratings on the three impacted
debt issues over the coming days. In the meantime, the company is
issuing senior secured first-lien notes due 2032, which it will use
the proceeds from to refinance a like portion of its senior secured
first-lien notes due 2026.

"While we collectively view these transactions as net credit
positive, because they reduced the amount of the company's nearest
maturity and modestly reduced its S&P Global Ratings-adjusted
leverage, we continue to view Community Health's capital structure
as unsustainable over the long term. For this reason, we believe
the company may undertake further distressed transactions."



COMPLIANCE TESTING: Claims Will be Paid From Disposable Income
--------------------------------------------------------------
Compliance Testing, LLC, filed with the U.S. Bankruptcy Court for
the District of Arizona a Plan of Reorganization under Subchapter V
dated December 4, 2023.

The Debtor first began its operation sixty years ago, in 1963. The
company, which provides compliance I 27 regulatory testing and FCC
Certifications for wireless and electronic devices, was 28 acquired
by its current 100% member, Michael C. Schafer, in early 2004.

Due to the decline in the smaller customer base, CT began to pivot
its operations by reducing its staff, cutting costs, and building a
new sales team and Web Marketing. These efforts appear to be
beginning to gain traction but, due to the large debt load, CT was
not able to manage its obligations and felt the need to reorganize
under Chapter 11.

CT along with its principal and employees looks forward to a
successful Chapter 11, Subchapter V reorganization as such will
allow it to restore its business. CT provides an important service
for the Federal Communications Commission and particularly the
Department of Homeland Security by its specialized testing of new
products to ensure compliance with each Country's regulatory
agencies. It is believed that this Chapter 11 program will save
this small but viable and important business as well as its
employees' jobs.  

This Plan of Reorganization proposes to pay the creditors of the
Debtor from its net disposable earnings.

Non-priority, non-insider unsecured creditors holding allowed
claims will receive distributions based upon Debtor's projected net
disposable income over a period not to exceed a 60-month term.

Class 10 consists of General Unsecured Claims. All non-insider
allowed and approved claims under this Class shall be paid their
allowed claims from all funds available for distribution. The
allowed unsecured claims total $3,270,389.70. This Class is
impaired.

Equity Holder shall retain its shareholder/membership interest in
the Debtor and the Debtor shall retain all legal and equitable
interest in assets of this estate as all reconciliation issues have
been met.

This is a 60-month Plan with a total projected Plan yield of
approximately $426,000.00. The total projected yield includes
payment of Administrative Claimants.

The Debtor's status as Debtor-in-Possession, upon the entry of an
Order 28 confirming the Debtor's Plan of Reorganization, shall
terminate and the Debtor shall continue to operate its affairs in
the ordinary course and is authorized to engage in any lawful
business activities and transaction without Court approval.

A full-text copy of the Plan of Reorganization dated December 4,
2023 is available at https://urlcurt.com/u?l=ECdFPv from
PacerMonitor.com at no charge.

Attorney for Debtor:

     Allan D. NewDelman, Esq.
     ALLAN D. NEWDELMAN, P.C.
     80 East Columbus Avenue
     Phoenix, AZ 85012
     Tel: (602) 264-4550
     Email: anewdelman@adnlaw.net

                   About Compliance Testing

Compliance Testing offers clients with the full testing services
they need to achieve certification success.  The Company provides
worldwide compliance testing for FCC, IC and CE marks.  The Company
is able to offer services for the U.S., Canada, European Union,
Australia/New Zealand, Korea, Japan and many other markets.

Compliance Testing, LLC in Mesa, AZ, filed its voluntary petition
for Chapter 11 protection (Bankr. D. Ariz. Case No. 23-06163) on
Sept. 6, 2023, listing $628,890 in assets and $5,560,180 in
liabilities.  Michael C. Schafer as manager, signed the petition.

Judge Scott H. Gan oversees the case.

ALLAN D. NEWDELMAN, P.C., serves as the Debtor's legal counsel.


COMPLIANCE TESTING: Seeks to Hire Alt Key as Accountant
-------------------------------------------------------
Compliance Testing, LLC seeks approval from the U.S. Bankruptcy
Court for the District of Arizona to employ The Alt Key, PLLC as
its accountant.

The firm will assist the Debtor in the preparation of necessary tax
returns, financial statements, monthly operating reports and any
other accounting matters that may
required assistance during the course of this Chapter 11
proceeding.

The Alt Key will be paid at these hourly rates:

     Partners                  $350
     Managers                  $310
     Support Staffs        $75 to $150

The Alt Key will also be reimbursed for reasonable out-of-pocket
expenses incurred.

Steven Parker, a partner at The Alt Key, assured the Court that the
firm is a "disinterested person" as the term is defined in Section
101(14) of the Bankruptcy Code and does not represent any interest
adverse to the Debtor and its estates.

The Alt Key can be reached at:

     Steven J. Parker, CPA
     THE ALT KEY, PLLC
     2151 East Broadway Road, Suite 115
     Tempe, AZ 85282
     Tel: (480) 558-4400

              About Compliance Testing, LLC

Compliance Testing offers clients with the full testing services
they need to achieve certification success. The Company provides
worldwide compliance testing for FCC, IC and CE marks. The Company
is able to offer services for the U.S., Canada, European Union,
Australia/New Zealand, Korea, Japan and many other markets.

Compliance Testing, LLC in Mesa, AZ, filed its voluntary petition
for Chapter 11 protection (Bankr. D. Ariz. Case No. 23-06163) on
September 6, 2023, listing $628,890 in assets and $5,560,180 in
liabilities. Michael C. Schafer as manager, signed the petition.

Judge Scott H. Gan oversees the case.

ALLAN D. NEWDELMAN, P.C. serve as the Debtor's legal counsel.


CRAWFISH WORLD: Jeanette McPherson Named Subchapter V Trustee
-------------------------------------------------------------
The U.S. Trustee for Region 17 appointed Jeanette McPherson, Esq.,
at Fox Rothschild, LLP, as Subchapter V trustee for Crawfish World,
LLC.

Ms. McPherson will be paid an hourly fee of $625 for her services
as Subchapter V trustee and will be reimbursed for work-related
expenses incurred.

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

The Subchapter V trustee can be reached at:

     Jeanette McPherson, Esq.
     Fox Rothschild, LLP
     1980 Festival Plaza Drive, Suite 700
     Las Vegas, NV 89135
     Phone: (702) 699-5923
     Email: TrusteeJMcPherson@FoxRothschild.com

                        About Crawfish World

Crawfish World, LLC owns and operates a seafood restaurant in Las
Vegas.

Crawfish World filed a petition under Chapter 11, Subchapter V of
the Bankruptcy Code (Bankr. D. Nev. Case No. 23-15181) on Nov. 23,
2023, with up to $50,000 in assets and $1 million to $10 million in
liabilities. Minh Ngo, managing member, signed the petition.

Seth D. Ballstaedt, Esq., at Fair Fee Legal Services represents the
Debtor as bankruptcy counsel.


DIOCESE OF NEW ORLEANS: Committee Hires Kroll as Analyst
--------------------------------------------------------
The official committee of unsecured creditors of Roman Catholic
Church of the Archdiocese of New Orleans seeks approval from the
U.S. Bankruptcy Court for the Eastern District of Louisiana to
employ Kroll, LLC as pension analyst.

The firm's services include:

     a. assisting the Commercial Committee in connection with
issues concerning the Debtor's pension and Other Post-Employment
Benefit ("OPEB") plans;

     b. assisting the Commercial Committee in reviewing information
and reports pertaining to pension and OPEB issues that the Debtor
and Abuse Committee may distribute to the Commercial Committee;

     c. attending meetings and assisting discussions among the
Debtor, the Commercial Committee, the U.S. Trustee, and other
parties-in-interest and their professionals that relate to pension
and OPEB issues;

     d. advising the Commercial Committee in connection with
pension and OPEB issues in connection with the Mediation;

     e. assisting in the review and/or preparation of information
and analyses pertaining to pension and OPEB issues relevant to the
confirmation of a Chapter 11 plan, or for the response to any plan
or motion filed in this Bankruptcy Case; and

     f. providing expert testimony as necessary.

The firm will be paid at these rates:

     Managing Director        $875 per hour
     Director                 $725 per hour
     Vice President           $650 per hour
     Senior Associate         $575 per hour
     Analyst                  $475 per hour

The firm will also be reimbursed for reasonable out-of-pocket
expenses incurred.

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

The firm can be reached at:

     Steve Pomerantz
     Kroll, LLC
     300 Headquarters Plaza
     East Tower, Floor 11
     Norristown, NJ 07960
     Tel: (973) 775-8298
     Fax: (917) 679-7579

              About Roman Catholic Church of
             the Archdiocese of New Orleans

The Roman Catholic Church of the Archdiocese of New Orleans --
https://www.nolacatholic.org/ -- is a non-profit religious
corporation incorporated under the laws of the State of Louisiana.

Created as a diocese in 1793, and established as an archdiocese in
1850, the Archdiocese of New Orleans has educated hundreds of
thousands in its schools, provided religious services to its
churches and provided charitable assistance to individuals in need,
including those affected by hurricanes, floods, natural disasters,
war, civil unrest, plagues, epidemics, and illness. Currently, the
archdiocese's geographic footprint occupies over 4,200 square miles
in southeast Louisiana and includes eight civil parishes:
Jefferson, Orleans, Plaquemines, St. Bernard, St. Charles, St. John
the Baptist, St. Tammany, and Washington.

The Roman Catholic Church for the Archdiocese of New Orleans sought
Chapter 11 protection (Bankr. E.D. La. Case No. 20-10846) on May 1,
2020.  The archdiocese was estimated to have $100 million to $500
million in assets and liabilities as of the bankruptcy filing.

Judge Meredith S. Grabill oversees the case.

Jones Walker, LLP and Blank Rome, LLP, serve as the archdiocese's
bankruptcy counsel and special counsel, respectively.  Donlin,
Recano& Company, Inc., is the claims agent.

The U.S. Trustee for Region 5 appointed an official committee of
unsecured creditors on May 20, 2020.  The committee is represented
by the law firms of PachulskiStangZiehl& Jones, LLP and Locke Lord,
LLP.  Berkeley Research Group, LLC is the committee's financial
advisor.


DMCC 450: Williston Park Condo Up for Auction on Dec. 29
--------------------------------------------------------
Fisher Auction Company will hold an auction on Dec. 29, 2023, at
5:00 p.m., for the sale of a 3,050 +/- sf Prime Freestanding
Medical Office Condo in the Williston Park Condominiums located at
450 St. Charles Court, Lake Mary, Florida 32746.

The highest bid is subject to the Bankruptcy Court's and DMCC 450
Charles Court LLC's final approval and acceptance of price, plus 6%
Buyer's Premium and is subject to the terms and conditions of the
Governing Documents.  There's a 3% broker participation of the
final bid price.

Qualified bidders must file a written bid and a minimum deposit for
each Property are due by Dec. 29, 2023, no later than 5:00 p.m. to
the Debtor's bankruptcy counsel, Latham, Luna, Eden & Beaudine,
LLP, 201 S. Orange Avenue, Suite 1400, Orlando, Florida 32801;
Attn: Justin M. Luna, Esq., jluna@lathamluna.com.

For further information regarding the sale, contact:

   Fisher Auction Company
   2112 East Atlantic Boulevard
   Pompano Beach, FL 33062
   Tel: (754) 220-4116
   Florida: (954) 942-0917
   Toll Free: (800) 331-6620
   Fax: (954) 782-8143
   Email: info@fisherauction.com

                      About DMCC 450 Charles

DMCC 450 Charles Court, LLC filed a petition under Chapter 11,
Subchapter V of the Bankruptcy Code (Bankr. M.D. Fla. Case No.
23-01977) on May 23, 2023, with $1 million to $10 million in both
assets and liabilities.  Aaron Cohen, Esq., a practicing attorney
in Jacksonville, Fla., has been appointed as Subchapter V trustee.

Judge Grace E. Robson oversees the case.

Justin M. Luna, Esq., at Latham Luna Eden & Beaudine, LLP, is the
Debtor's legal counsel.


EDGEWOOD FOOD: Hires Stonebridge Accounting as Accountant
---------------------------------------------------------
Edgewood Food Mart, Inc. seeks approval from the U.S. Bankruptcy
Court for the Northern District of Georgia to employ Stonebridge
Accounting & Forensics, LLC as accountant.

The firm will provide accounting services including, analyses of
budgets, financial documents and records, particularly in light of
considering a bankruptcy filing.

The firm will be paid at the rate of $275 per hour.

The firm will also be reimbursed for reasonable out-of-pocket
expenses incurred.

Spencer Shumway, a partner at Stonebridge Accounting & Forensics,
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:

     Spencer Shumway
     Stonebridge Accounting & Forensics
     P.O. Box 1290
     Grayson, GA 30017
     Telephone: (770) 995-8102
     Facsimile: (770) 995-8103
     Email: info@stonebridgeaccounting.com

              About Edgewood Food Mart, Inc.

Edgewood Food Mart, Inc., a domestic profit company in Georgia,
filed a petition under Chapter 11, Subchapter V of the Bankruptcy
Code (Bankr. N.D. Ga. Case No. 23-61204) on Nov. 10, 2023, with up
to $500,000 in assets and up to $10 million in liabilities.

Tamara Miles Ogier, Esq., at Ogier, Rothschild & Rosenfeld, PC
represents the Debtor as legal counsel.


EDGEWOOD FOOD: Taps Stonebridge Accounting as Forensic Accountant
-----------------------------------------------------------------
Edgewood Food Mart, Inc. filed an amended application seeking
approval from the U.S. Bankruptcy Court for the Northern District
of Georgia to employ Stonebridge Accounting & Forensics, LLC as its
forensic accountants.

The firm will provide forensic services, including analyses of
budgets, financial documents and records, particularly in light of
considering a bankruptcy filing.

The Debtor proposes to pay Stonebridge at the rate of $275 per
hour.

On Sep. 18, 2023, Stonebridge received a prepetition retainer of
$10,000 from the Debtor.

Spence Shumway, a member of Stonebridge Accounting, disclosed in a
court filing that his firm is a "disinterested person" as the term
is defined in Section 101(14) of the Bankruptcy Code.

The firm can be reached through:

     Spence A. Shumway
     Stonebridge Accounting & Forensics, LLC
     P.O. Box 1290
     Grayson, GA  30017
     Telephone: (770) 995-8102
     Facsimile: (770) 995-8103

                  About Edgewood Food Mart

Edgewood Food Mart, Inc., a domestic profit company in Georgia,
filed a petition under Chapter 11, Subchapter V of the Bankruptcy
Code (Bankr. N.D. Ga. Case No. 23-61204) on Nov. 10, 2023, with up
to $500,000 in assets and up to $10 million in liabilities. Leon S.
Jones has been appointed as Subchapter V trustee.

Tamara Miles Ogier, Esq., at Ogier, Rothschild & Rosenfeld, PC
represents the Debtor as legal counsel.


EDWARD DON: S&P Withdraws 'B-' ICR on Acquisition by Sysco Corp
---------------------------------------------------------------
S&P Global Ratings withdrew its ratings on Edward Don & Co.
Holdings LLC following its completed acquisition by Sysco Corp. on
Nov. 27, 2023. Its issuer credit rating on the company was 'B-' and
the outlook was stable at the time of withdrawal.




EIGHT COPELAND: Property Sale Proceeds to Fund Plan
---------------------------------------------------
Eight Copeland Road Group, LLC filed with the U.S. Bankruptcy Court
for the District of New Jersey a Small Business Chapter 11 Plan
dated December 4, 2023.

The debtor is the owner of approximately 17-18 properties, mostly
residential. All the properties have mortgages secured to them and
all of the mortgages are believed to be in default. In addition,
some of the debtor's properties are subject to NJ DEP liens.

The debtor has operated since 2017. Debtor was a litigant in a
quiet title action for approximately five years challenging
debtor's ownership of its real estate portfolio.

Priority Tax Claims are unsecured income, employment, and other
taxes described by Section 507(a)(8) of the Code. Unless the holder
of such Section 507(a)(8) Priority Tax Claim agrees otherwise, it
must receive the present value of such Claim, in regular
installments paid over a period not exceeding 5 years from the
order of relief.

Allowed Secured Claims are Claims secured by property of the
Debtor's bankruptcy estate (or that are subject to setoff) to the
extent allowed as secured Claims under Section 506 of the Code. If
the value of the collateral or setoffs securing the Creditor's
Claim is less than the amount of the Creditor's Allowed Claim, the
deficiency will be classified as a general unsecured Claim. In
addition, certain claims secured only by the debtor's principal
residence, may require different treatment pursuant to Section
1190(3) of the Code as set forth below, if applicable.

Allowed Claims shall be paid in full pursuant to written payoff at
closing of sale of Debtor's Property.

On Confirmation of the Plan, all property of the Debtor, tangible
and intangible, including, without limitation, licenses, furniture,
fixtures and equipment, will revert, free and clear of all Claims
and Equitable Interests except as provided in the Plan, to the
Debtor. The Debtor expects to have sufficient cash on hand to make
the payments required on the Effective Date.

The Board of Directors of the Debtor immediately prior to the
Effective Date shall serve as the initial Board of Directors of the
Reorganized Debtor on and after the Effective Date. Each member of
the Board of Directors shall serve in accordance with applicable
non-bankruptcy law and the Debtor's certificate or articles of
incorporation and bylaws, as each of the same may be amended from
time to time.

The Debtor must submit all or such portion of the future earnings
or other future income of the Debtor to the supervision and control
of the Trustee as is necessary for the execution of the Plan.

A full-text copy of the Chapter 11 Plan dated December 4, 2023 is
available at https://urlcurt.com/u?l=zbBoi2 from PacerMonitor.com
at no charge.

Counsel for Debtor:

     Avram D. White, Esq.
     WHITE and CO, LLC
     523 Park Avenue, Suite 3
     Orange, NJ 07050

                     About Eight Copeland

Eight Copeland Road Group, LLC, is engaged in activities related to
real estate. The company is based in Livingston, N.J.

Eight Copeland Road Group filed a Chapter 11 petition (Bankr.
D.N.J. Case No. 23-17756) on Sept. 5, 2023, with $1 million to $10
million in both assets and liabilities.  Marc Theophile, managing
member, signed the petition.

Judge John K. Sherwood oversees the case.

Avram D. White, Esq., at White and Co. Attorneys and Counsellors,
is the Debtor's bankruptcy counsel.


ENVIVA INC: Records $103.9M Goodwill Impairment Charge in Q4 2023
-----------------------------------------------------------------
Enviva Inc. disclosed in a Form 8-K Report filed with the
Securities and Exchange Commission that due to the sustained
decrease in the Company's stock price since November 9, 2023, the
Company performed an interim goodwill impairment test, which
indicated that the carrying value of its sole reporting unit was
above its fair value.

Consistent with the Company's historical approach for impairment
tests, the Company estimated the fair value of its sole reporting
unit using the market approach using its market capitalization of
its common stock and an estimated control premium. Based on this
approach, on December 4, 2023, management presented to the
Company's Board of Directors its determination that the carrying
value of the Company's sole reporting unit exceeded its fair value
and the Board of Directors concluded that a material charge for
impairment to goodwill will be required for the fourth quarter of
2023.

As a result, the Company expects to record a material non-cash
pretax impairment charge related to goodwill of $103.9 million in
the fourth quarter of 2023.

The impairment charge will not result in any current or future cash
expenditure. Additionally, the charge does not impact the Company's
compliance with covenants under any outstanding credit agreements.

                           About Enviva

Enviva Inc. (NYSE: EVA) is a producer of industrial wood pellets, a
renewable and sustainable energy source produced by aggregating a
natural resource, wood fiber, and processing it into a
transportable form, wood pellets.  Enviva owns and operates ten
plants with an expected annual production of approximately 5.0
million metric tons in Virginia, North Carolina, South Carolina,
Georgia, Florida, and Mississippi, and is constructing its 11th
plant in Epes, Alabama.  Additionally, Enviva is planning
construction of its 12th plant, near Bond, Mississippi.  Enviva
sells most of its wood pellets through long-term, take-or-pay
off-take contracts with customers located primarily in the United
Kingdom, the European Union, and Japan, helping to accelerate the
energy transition and to defossilize hard-to-abate sectors like
steel, cement, lime, chemicals, and aviation.

Enviva reported a net loss of $168.37 million in 2022, a net loss
of $145.27 million in 2021, and a net loss of $106.32 million in
2020.

Enviva said in its Quarterly Report for the period ended Sept. 30,
2023, that "The Company has incurred net losses of $257.8 million
and $168.4 million for the nine months ended September 30, 2023 and
the year ended December 31, 2022, respectively, and negative cash
flow from operating activities of $25.6 million and $88.8 million,
respectively for the same periods.  As of September 30, 2023, the
Company had $315.2 million in cash and cash equivalents, $125.5
million of restricted cash, and no availability under our revolving
credit facility, resulting in total liquidity of $440.7 million.
Our future profitability and liquidity are expected to be
negatively impacted by the following matters which have resulted in
substantial doubt about the Company's ability to continue as a
going concern."


EPIC CRUDE: S&P Hikes ICR to 'B' on Improved Financial Performance
------------------------------------------------------------------
S&P Global Ratings raised its issuer credit rating on Epic Crude
Services L.P. (Epic) to 'B' and its issue-level rating on its
senior secured debt to 'B'. The '3' recovery rating on the debt is
unchanged, indicating its expectation of meaningful (50%-70%;
rounded estimate: 55%) recovery in the event of a payment default.

The stable outlook reflects S&P's expectation that Epic's leverage
will improve throughout our outlook period, with S&P Global
Ratings-adjusted debt to EBITDA trending toward 5.0x-5.5x in 2024.

Epic's robust asset utilization and improved contract profile lead
S&P to view its business risk profile more favorably.

S&P said, "Year to date, Epic's utilization has been above 90%,
which we believe will continue to improve as production in the
Permian basin and crude demand at Corpus Christi remain strong.
Given the tightening takeaway capacity in the Permian, Epic is in a
good position to recontract at more favorable rates. Epic's
contract profile has improved from previous years but is still
relatively weaker compared with higher rated peers'. We estimate
approximately half of the company's total volumes are underpinned
by minimum volume commitments in 2024. The majority of Epic's
volumes are contracted for one to two years, which leads to some
level of uncertainty for the outer years.

"We expect Epic to generate stronger cash flow, which will bolster
its credit metrics, but believe the company's fully drawn revolving
credit facility (RCF) provides limited financial flexibility.

"Given that Epic operates a relatively new long-haul pipeline, its
maintenance capital spending will remain modest. We anticipate the
company will continue to generate positive free operating cash flow
throughout the outlook period. Although we believe it is unlikely
the company will face liquidity issues over the next 12 months, the
fully drawn RCF highlights its limited financial flexibility as we
believe it will largely depend on cash flow from operations and
external capital support to fund larger growth projects and debt
repayment.

"The stable outlook reflects our expectation that Epic's leverage
will continue to improve throughout our outlook period. We
anticipate its S&P Global Ratings-adjusted debt to EBITDA will
trend toward 5.0x-5.5x in 2024 as it maintains robust asset
utilization while securing contracts at favorable rates.

"We could consider a negative rating action on the company if we
anticipate its liquidity to deteriorate or its S&P Global
Ratings-adjusted debt to EBITDA to be above 6.5x." This could occur
if:

-- The company generates significantly lower-than-expected EBITDA
due to a material decline in volumes or recontracts at lower rates
than S&P's current expectations; or

-- Management pursues a more aggressive financial policy.

S&P could consider a positive rating action on the company if:

-- S&P anticipates its S&P Global Ratings-adjusted debt to EBITDA
will approach 4.5x and expect it will sustain leverage of below
4.5x over the long term; and

-- The company maintains adequate liquidity and S&P believes the
company will mitigate its refinancing risk.



EQUALTOX LLC: Hires Greines Martin Stein as Special Counsel
-----------------------------------------------------------
Equaltox, LLC seeks approval from the U.S. Bankruptcy Court for the
Central District of California to employ Greines, Martin, Stein, &
Richland LLP as special appellate counsel.

Pre-petition, on or about September 1, 2023, the Debtor, Masood,
Kohzad, and the other
Defendants appealed the Judgment, commencing case no. G063027
before the Court of Appeal of California, Fourth Appellate
District, Division Three. On or about October 9, 2023, following
the trial court's determination of post-trial motions, Anthem filed
a notice of cross-appeal and the Appealing Defendants filed a
second notice of appeal. The Appealing Defendants' appeal and
Anthem's cross-appeal are collectively referred to herein as the
"Appeal." The Court of Appeal transferred the appeal to the Fourth
Appellate District, Division One, and assigned it case no. D082886.
The Appeal is currently pending.

The Debtor seeks to employ the firm as its special appellate
counsel to represent and advise it concerning the Appeal through
issuance of remittitur by the Court of Appeal by:

   (a) representing the Debtor in its appeal of the Judgment;

   (b) reviewing the record on appeal;

   (c) identifying and analyzing the merits of possible issues for
the Debtor to assert on
appeal;

   (d) advising the Debtor regarding all aspects of the Appeal;

   (e) preparing the Debtor's briefs to be filed in the Appeal;

   (f) attending oral argument in the Appeal, if any; and

   (g) attending settlement meetings.

Robin Meadow, Esq., and Jeffrey Gurrola, Esq., the attorneys
handling the appeal, will be paid at the hourly rates of $1,050 and
$750, respectively.

The firm received from the Debtor a retainer of $250,000.

The firm will also be reimbursed for reasonable out-of-pocket
expenses incurred.

Robin Meadow, Esq., a partner at Greines, Martin, Stein & Richland,
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:

     Robin Meadow, Esq.
     Greines, Martin, Stein & Richland, LLP
     6420 Wilshire Boulevard, Suite 1100
     Los Angeles, CA 90048
     Tel: (310) 859-7811
     Fax: (310) 276-6251

              About Equaltox, LLC

Equaltox, LLC is a full service reference laboratory that can
provide almost any type of blood testing.

The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. C.D. Cal. Case No. 8:23-bk-12243) on
October 27, 2023. In the petition signed by Sulaiman Masood, member
and manager, the Debtor disclosed up to $10 million in both assets
and liabilities.

Robert S. Marticello, Esq., at Smiley Wang-Ekvall, LLP, represents
the Debtor as legal counsel.


EVE FINANCIAL: Seeks to Hire Hayward PLLC as Bankruptcy Counsel
---------------------------------------------------------------
Eve Financial, Inc. seeks approval from the U.S. Bankruptcy Court
for the Northern District of Texas to employ Hayward PLLC as its
attorneys.

The firm's services include:

     a. giving Debtor legal advice with respect to its powers and
duties as Debtor as Debtor-in-Possession in the continued operation
of its business and management of its property;

     b. advising Debtor of its responsibilities under the
Bankruptcy Code and assist with such;

     c. preparing and filing the voluntary petition and other
paperwork necessary to commence this proceeding;

     d. assisting the Debtor in preparing and filing the required
Schedules, Statement of Affairs, Monthly Financial Reports, the
Initial Debtors Report and other documents required by the
Bankruptcy Code, the Federal Rules of Bankruptcy Procedure, the
Local Rules of this Court and the administrative procedures of the
Office of the United States Trustee;

     e. representing the Debtor in connection with adversary
proceedings and other contested and uncontested matters, both in
this Court and in other courts of competent jurisdiction,
concerning any and all matters related to these bankruptcy
proceedings and the financial affairs of the Debtor;

     f. representing the Debtor in the negotiation and
documentation of any sales or refinancing of property of the
estate, and in obtaining the necessary approvals of such sales or
refinancing by this Court; and

     g. assisting the Debtor in the formulation of a plan of
reorganization and disclosure statement, and in taking the
necessary steps in this Court to obtain approval of such disclosure
statement and confirmation of such plan of reorganization.

The firm will be paid at these rates:

     Charlie Shelton            $450 per hour
     Other attorneys            $250 - $500 per hour
     Paralegals                 $150 - $195 per hour
     Legal Assistant            $95 per hour

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

The firm will also be reimbursed for reasonable out-of-pocket
expenses incurred.

Charlie Shelton, Esq., a partner at Hayward 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:

     Charlie Shelton, Esq.
     HAYWARD PLLC
     7600 Burnet Road, Suite 530
     Austin, TX 78757
     Phone: (737) 881-7100
     Fax: cshelton@haywardfirm.com

            About Eve Financial

Eve Financial, Inc. is a financial service company that helps
companies and consumers receive financing to pay for services. It
is based in American Fork, Utah.

Eve Financial filed Chapter 11 petition (Bankr. N.D. Texas Case No.
23-43335) on Nov. 1, 2023, with $100,000 to $500,000 in assets and
$1 million to $10 million in liabilities.

Judge Mark X. Mullin oversees the case.

Charlie Shelton, Esq., at Hayward, PLLC represents the Debtor as
legal counsel.


FARWAY MARINA: Seeks to Hire Doreen Greenwood as Real State Broker
------------------------------------------------------------------
Farway Marina, Inc. seeks approval from the U.S. Bankruptcy Court
for the Eastern District of New York to employ Doreen Greenwood
Inc. as its real estate broker.

The broker will market and sell the Debtor's property located at
Beach 84th and Beach 85th Street, Far Rockaway, New York, comprised
of lots: (i) Lot 17 -- 2 Beach 85th Street, (ii) Lot 15 -- Beach
85th Street, (iii) Lot 45-Beach 85th Street, and (iv) Lot 51-341
Beach 84th Street.

The compensation to be paid to the broker is based on a percentage
commission of 3.5 percent of the sale price, provided, however,
that in the event of a credit bid, the agreed upon commission rate
will be reduced to 2 percent.

Doreen Garson, an agent at Doreen Greenwood, assured the court that
she represents no interest adverse to the Debtor, its estates or
creditors and is a disinterested person under Sec. 101(14) of the
Code.  

The broker can be reached through:

     Doreen Garson
     DOREEN GREENWOOD INC
     2738 Gerritsen Ave
     Brooklyn, NY 11229
     Phone: (718) 769-4448
     Email:Doreengarson@gmail.com

           About Farway Marina

Farway Marina, Inc., a company in Far Rockaway, N.Y., filed its
voluntary petition for Chapter 11 protection (Bankr. E.D.N.Y. Case
No. 23-41446) on April 27, 2023, with as much as $50,000 in assets
and $1 million to $10 million in liabilities. Judge Jil
Mazer-Marino oversees the case.

Leech Tishman Robinson Brog, PLLC is the Debtor's legal counsel.


FIRST QUALITY: Soneet Kapila Named Subchapter V Trustee
-------------------------------------------------------
The U.S. Trustee for Region 21 appointed Soneet Kapila of Kapila
Mukamal as Subchapter V trustee for First Quality Laboratory Inc.

Mr. Kapila will be paid an hourly fee of $450 for his services as
Subchapter V trustee and will be reimbursed for work-related
expenses incurred.

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

The Subchapter V trustee can be reached at:

     Soneet R. Kapila
     Kapila Mukamal
     1000 South Federal Highway, Suite 200
     Fort Lauderdale, FL 33316
     Tel: (954) 761-1011
     Email: skapila@kapilamukamal.com

                  About First Quality Laboratory

First Quality Laboratory, Inc. owns and operates a medical
laboratory in Hollywood, Fla.

First Quality Laboratory filed a petition under Chapter 11,
Subchapter V of the Bankruptcy Code (Bankr. S.D. Fla. Case No.
23-19831) on Nov. 29, 2023, with $1 million to $10 million in both
assets and liabilities. Luz F. Garcia, vice president, signed the
petition.

Judge Peter D. Russin oversees the case.

The Debtor is represented by Gary M. Murphree, Esq., at Am Law,
LLC.


FREE SPEECH: Alex Jones Okayed to Sell Cars, Guns on Talk Shows
---------------------------------------------------------------
James Nani of Bloomberg Law reports that right-wing conspiracy
theorist Alex Jones received the green light to sell firearms,
jewelry, cars, boats, and a cryogenic chamber on his Infowars shows
to help pay for the costs of his personal bankruptcy.

Jones can conduct at least part of the sales on his radio and video
talk shows to get the most value for the items, according to an
order filed Thursday by Judge Christopher M. Lopez of the US
Bankruptcy Court for the Southern District of Texas.

The talk show host filed for bankruptcy protection last year after
he was ordered to pay more than $1 billion in judgments related to
his lies that the 2012 Sandy Hook Elementary School shooting was a
hoax.

The sale comes after the judge in October found that despite
Jones’ bankruptcy, he's still on the hook for about $1.1 billion
of the $1.4 billion in debt he owes from Connecticut and Texas
defamation judgments.

                   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.


FREELAND PAINTING: Hires Paul Reece Marr as Bankruptcy Counsel
--------------------------------------------------------------
Freeland Painting & Construction, Inc. seeks approval from the U.S.
Bankruptcy Court for the Northern District of Georgia to employ
Paul Reece Marr, P.C. as its bankruptcy attorneys.

The firm's services include:

     (a) providing the Debtor with legal advice regarding its
powers and duties as a debtor in possession in the continued
operation and management of its affairs;

     (b) preparing on behalf of the Debtor the necessary
applications, statements, schedules, lists, answers, orders and
other legal papers pursuant to the Bankruptcy Code; and

     (c) performing all other legal services in the Chapter 11
bankruptcy proceeding for the Debtor which may be reasonably
necessary.

The firm will charge hourly rates of $450 and $250 for Paul Reece
Marr, Esq., and paralegal, respectively.

The firm received a $10,000 attorney fee retainer and the petition
filing fee of $1,738.

Paul Reece Marr, Esq., disclosed in a court filing that his firm is
a "disinterested person" as that term is defined in Section 101(14)
of the Bankruptcy Code.

The firm can be reached through:

     Paul Reece Marr, Esq.
     PAUL REECE MARR, PC
     1640 Powers Ferry Road
     6075 Barfield Road, Suite 213
     Sandy Springs, GA 30328
     Telephone: (770) 984-2255
     Email: paul.marr@marrlegal.com

           About Freeland Painting & Construction, Inc.

Freeland Painting is a local, family-owned business in Suwanee
providing professional painting services to the Atlanta area.

Freeland Painting & Construction, Inc. filed its voluntary petition
for relief under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Ga.
Case No. 23-61480) on November 18, 2023. The petition was signed by
Douglas D. Ireland II as CEO. At the time of filing, the Debtor
estimated $436,313 in assets and $1,171,379 in liabilities.

Paul Reece Marr, Esq. at Paul Reece Marr, P.C. represents the
Debtor as counsel.


GAMESTOP CORP: Incurs $3.1MM Net loss in Third Quarter
------------------------------------------------------
GameStop Corp. filed with the Securities and Exchange Commission
its Quarterly Report on Form 10-Q disclosing a net loss of $3.1
million on $1.08 billion of net sales for the three months ended
October 28, 2023. This compared to a net loss of $94.7 million on
$1.19 billion of net sales for the three months ended October 29,
2022.

For the nine months ended October 28, 2023, GameStop reported a net
loss of $56.4 million on $3.48 billion of net sales compared to a
net loss of $361.3 million on $3.70 billion of net sales for the
nine months ended October 29, 2022.

As of October 28, 2023, the Company had $3.15 billion in total
assets, $1.88 billion in total liabilities and 1.26 billion in
total stockholders' equity

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

https://www.sec.gov/ix?doc=/Archives/edgar/data/1326380/000132638023000063/gme-20231028.htm#ie3307e51afb54cd791825371f07c40da_16

                          About GameStop

Grapevine, Texas-based GameStop Corp. is a specialty retailer
offering games and entertainment products through its E-Commerce
platforms and thousands of stores.

GameStop reported a net loss of $313.1 million for the fiscal year
ended Jan. 28, 2023, a net loss of $381.3 million for the fiscal
year ended Jan. 29, 2022, a net loss of $215.3 million in 2020, a
net loss of $470.9 million in 2019, and a net loss of $673 million
in 2018. As of July 29, 2023, the Company had $2.80 billion in
total assets, $1.53 billion in total liabilities, and $1.26 billion
in total stockholders' equity.

                              *  *  *

Egan-Jones Ratings Company on September 6, 2023, maintained its
'CC' foreign currency and local currency senior unsecured ratings
on debt issued by GameStop Corporation.


GAUCHO GROUP: Grosses $870K From Private Placement of Common Shares
-------------------------------------------------------------------
Gaucho Group Holdings, Inc. previously reported on a Current Report
on Form 8-K filed on Feb. 21, 2023, that the Company and an
institutional investor entered into that certain Securities
Purchase Agreement, dated as of Feb. 21, 2023 and the Company
issued to the Holder a senior secured convertible note, as amended
and warrant to purchase 337,710 shares of common stock of the
Company.

On Dec. 1, 2023, pursuant to the Note, the investor elected to
convert a total of $57,957 of principal, $2,857 of interest, and
$9,122.10 of premium into 145,000 shares of common stock of the
Company at a conversion price of $0.4823 per share.

As previously reported on the Company's Current Report on Form 8-K
filed on Nov. 27, 2023, the Company commenced a private placement
of shares of common stock for gross proceeds of up to $4,000,000 at
a price per share which equals the Nasdaq Rule 5653(d) Minimum
Price definition, but in no event at a price per share lower than
$0.60.

On Nov. 30, 2023, pursuant to the Private Placement, the Company
issued a total of 346,535 shares of common stock for gross proceeds
of $210,000 at $0.606 per share.

On Dec. 1, 2023, pursuant to the Private Placement, the Company
issued a total of 100,000 shares of common stock for gross proceeds
of $60,000 at $0.60 per share.

On Dec. 4, 2023, pursuant to the Private Placement, the Company
issued a total of 1,000,000 shares of common stock for gross
proceeds of $600,000 at $0.60 per share.

Pending approval by the stockholders at the Company's Special
Meeting of Stockholders scheduled for Dec. 28, 2023, each investor
in the Private Placement will be afforded certain anti-dilution
protections for a period of 18 months following each closing of the
Private Placement.  If, during the 18-month period following each
closing of the Private Placement, the Company issues or sells any
shares of common stock of the Company, then each participant in the
Private Placement will automatically be issued such number of
shares of common stock as is necessary to maintain the percentage
ownership that such participant would have had if the Dilutive
Issuance had not occurred.

The Company presently intends to use the net proceeds from the
Private Placement to extinguish debt, fund infrastructure
development at Algodon Wine Estates, and for general working
capital.  The Company anticipates that the Private Placement will
be completed within a month from date of commencement.

                       About Gaucho Group

Headquartered in New York, NY, Gaucho Group Holdings, Inc.'s
(gauchoholdings.com) mission has been to source and develop
opportunities in Argentina's undervalued luxury real estate and
consumer marketplace.  The Company has positioned itself to take
advantage of the continued and fast growth of global e-commerce
across multiple market sectors, with the goal of becoming a leader
in diversified luxury goods and experiences in sought after
lifestyle industries and retail landscapes.

Gaucho Group reported a net loss of $21.83 million for the year
ended Dec. 31, 2022, compared to a net loss of $2.39 million for
the year ended Dec. 31, 2021. As of March 31, 2023, the Company had
$21.01 million in total assets, $8.60 million in total liabilities,
and $12.40 million in total stockholders' equity.

New York, NY-based Marcum LLP, the Company's auditor since 2013,
issued a "going concern" qualification in its report dated April
17, 2023, citing that the Company has a significant working capital
deficiency, has incurred significant losses and needs to raise
additional funds to meet its obligations and sustain its
operations.  These conditions raise substantial doubt about the
Company's ability to continue as a going concern.


GAUCHO GROUP: Investor Converts Note Into Common Shares
-------------------------------------------------------
Gaucho Group Holdings, Inc. disclosed in a Form 8-K filed with the
Securities and Exchange Commission that on December 1, 2023,
pursuant to a senior secured convertible note, an investor elected
to convert a total of $57,957 of principal, $2,857 of interest, and
$9,122.10 of premium into 145,000 shares of common stock of the
Company at a conversion price of $0.4823 per share.

Gaucho Group and the investor entered into that certain Securities
Purchase Agreement, dated as of Feb. 21, 2023 and the Company
issued to the investor a senior secured convertible note, as
amended, and warrant to purchase 337,710 shares of common stock of
the Company.

                          About Gaucho Group

Headquartered in New York, NY, Gaucho Group Holdings, Inc.'s
(gauchoholdings.com) mission has been to source and develop
opportunities in Argentina's undervalued luxury real estate and
consumer marketplace.  The Company has positioned itself to take
advantage of the continued and fast growth of global e-commerce
across multiple market sectors, with the goal of becoming a leader
in diversified luxury goods and experiences in sought after
lifestyle industries and retail landscapes.

Gaucho Group reported a net loss of $21.83 million for the year
ended Dec. 31, 2022, compared to a net loss of $2.39 million for
the year ended Dec. 31, 2021. As of March 31, 2023, the Company had
$21.01 million in total assets, $8.60 million in total liabilities,
and $12.40 million in total stockholders' equity.

New York, NY-based Marcum LLP, the Company's auditor since 2013,
issued a "going concern" qualification in its report dated April
17, 2023, citing that the Company has a significant working capital
deficiency, has incurred significant losses and needs to raise
additional funds to meet its obligations and sustain its
operations.  These conditions raise substantial doubt about the
Company's ability to continue as a going concern.


GBT JERSEYCO: S&P Upgrades ICR to 'B+' on Rapid Deleveraging
------------------------------------------------------------
S&P Global Ratings raised its issuer credit rating on GBT JerseyCo
Ltd. (doing business as American Express Global Business Travel or
Amex GBT, the largest global business travel management company) to
'B+' from 'B-'. At the same time, S&P raised all its issue-level
ratings by two notches in conjunction with the upgrade.

The stable outlook reflects S&P's view that market share gains and
operating leverage will continue to support good operating
performance such that leverage approaches the 4x area and free
operating cash flow (FOCF) to debt increases above 5% over the next
12 months.

The upgrade reflects strong operating performance by AMEX GBT,
which supports rapid deleveraging such that S&P Global
Ratings-adjusted leverage improves to the high-3x area in 2024.
Market share gains, new business wins among SME customers, and
overall industry recovery trends for business travel led to
year-over-year revenue growth of 31% for the nine-month period
ended Sept. 30, 2023. S&P said, "We expect Amex GBT to grow its
revenue in the mid-20% area in 2023 as the trajectory for business
travel recovery softens, albeit still at positive levels. We also
expect new business wins from this year to materialize into volume
growth next year such that Amex GBT grows its revenue in the mid-
to high-single-digit percent area in 2024. We also believe that
continued market share gains will offset any pressures from
macroeconomic uncertainty."

S&P said, "Furthermore, we expect the roll off of roughly $80
million in restructuring and integration expenses, benefits from
recent investments, and productivity gains from operating leverage,
will grow S&P Global Ratings-adjusted EBITDA margins in 2024 by
roughly 450 basis points. As such, we forecast leverage will
approach the 4x area in 2024, down from 6.7x for the last 12 months
ended Sept. 30, 2023. Our leverage calculations include our
treatment of capitalized software development costs as operating
expenses.

"We expect the company will generate positive cash flows as it
prudently manages its working capital. While Amex GBT's revenue and
EBITDA substantially improved alongside the recovery in business
travel, the company experienced substantial working capital
outflows because both account receivable and account payable
balances are correlated with the total transaction value (TTV)
recovery. These working capital dynamics, along with the company's
TTV seasonality, whereby its TTV is at its lowest levels at year
end and its payment of annual incentives is completed in the first
quarter, had a drag on the company's cash flow in the first quarter
of 2023 and for the 12-month period ended Sept. 30, 2023. For the
12 months ended Sept. 30, 2023, the company generated breakeven
cash. Nonetheless, we expect working capital initiatives and a
smoother business recovery trend to improve the company's cash flow
profile such that the company generates roughly $50 million of free
cash flow in full-year 2023. We expect EBITDA margin growth coupled
with cash interest savings from interest rate step-downs to result
in substantially higher cash flow in 2024 between $110 million-$135
million."

An anticipated economic slowdown, inflationary pressures, and
heightened interest rates pose risks to Amex GBT. After
stronger-than-expected growth so far, the U.S. economy is poised to
slow down for the next two years. S&P Global economists now expect
GDP growth to slow from 2.4% this year to 1.5% in 2024. S&P said,
"Although global air passenger traffic has been relatively
resilient despite macroeconomic headwinds this year, we believe
demand for air travel could modestly decline if the economy slows
down and companies likely scale back on nonessential business
travel to cut costs. We believe the increasing risk from a
macroeconomic slowdown could limit the company's operating
performance. While our base-case forecast incorporates good revenue
and EBITDA growth next year, we believe a higher interest rate
environment and heightened market volatility could create risk to
the company's deleveraging path and cash generation."

S&P said, "The stable outlook reflects our view that market share
gains and operating leverage will continue to support good
operating performance such that leverage approaches the 4x area and
FOCF to debt increases above 5% over the next 12 months.

"We could lower the rating if Amex GBT's credit metrics were to
materially deteriorate, or the company's financial policy were to
change such that we expect S&P Global Ratings-adjusted leverage to
rise above 4.5x or FOCF to debt to fall below 5% on a sustained
basis. Such a scenario could arise if there were a material
disruption in the business travel segment, loss of clients,
leveraging acquisitions, external event risks, or exceptional costs
exceeding our current expectation.

"We could raise the rating if Amex GBT exhibits strong operating
performance and adheres to a long-term financial policy that
facilitated S&P Global Ratings-adjusted leverage of less than 3.5x
and FOCF to debt above 10% on a sustained basis, including any
impact to credit metrics from investments, acquisitions, and
shareholder distributions."



GILBERT BARBEE: Amends Unsecured Tort Claims Pay Details
--------------------------------------------------------
Gilbert, Barbee, Moore & McIlvoy P.S.C., submitted a First Amended
Disclosure Statement for Plan of Reorganization dated December 5,
2023.

Since the Petition Date, Debtor has continued to operate as a
debtor in possession subject to the supervision of the Bankruptcy
Court in accordance with the Bankruptcy Code.

    Credit Agreement with McKesson Corp.

As of the Petition Date, Debtor was indebted to McKesson for goods
delivered in accordance with a Business Application ("McKesson
Credit Agreement"). The McKesson Credit Agreement included a grant
of a security interest in all of Debtor's right, title, and
interest in, to, and under all personal property and other assets,
whether then owned by or owing to, or thereafter acquired by or
arising in favor of Debtor, including, inter alia, all of Debtor's
(a) Accounts; (b) Inventory; (c) Chattel Paper; (d) Commercial Tort
Claims as disclosed on Debtor's Financial Statements; (e) Deposit
Accounts; (f) Documents; (g) Equipment; (h) General Intangibles;
(i) Goods; (j) Instruments; (k) Investment Property; (I) Letter of
Credit Rights; (m) insurance on all of the foregoing and the
proceeds of that insurance; (n) Debtor's money and other property
of every kind and nature now or at any time or times hereafter in
the possession of or under the control of McKesson; and (o) the
Cash proceeds, Noncash proceeds and products of all of the
foregoing and the Proceeds of other Proceeds.

McKesson holds a perfected first priority purchase money security
interest in goods which it provided to Debtor, and a third priority
security interest in the remaining assets of Debtor. As of the
Petition Date, Debtor was indebted to McKesson in the amount of
$5,283,518.67.

Since the Petition Date the Debtor has taken steps to resolve Tort
Claims, including agreeing with certain claim holders to lift the
automatic stay in order to permit claims to be litigated so long as
any recovery is limited to available insurance proceeds. These
agreed orders have reduced the potential Tort Claims against the
Debtor by waiving any claim in excess of available insurance
proceeds. In addition, several tort claimants failed to file a
proof of claim by the bar date, and the Debtor believes this will
eliminate an additional $12,607.066.37 in Tort Claims. The Debtor
has/has not settled any Tort Claims since the Petition Date, nor
has the Debtor analyzed whether or not the remaining stayed Tort
Claims may result in a judgment or settlement in excess of
available insurance proceeds.

In this Chapter 11 Case, the Plan contemplates the reorganization
of existing debt and continuation of Debtor's normal business
operations. The primary objectives of the Plan are to: (a) maximize
the value of the ultimate recoveries to all creditor groups on a
fair and equitable basis; (b) provide for the restructuring of
Debtor into multiple entities to better reflect Debtor's actual
operations; and (c) settle, compromise, or otherwise dispose of
certain Claims and Interests on terms that Debtor believes to be
fair and reasonable and in the best interests of Debtor's Estate
and its creditors.

Class 4-A consists of Allowed Unsecured Tort Insurance Claims.
Between the Effective Date and the date that is 6 months after the
Effective Date, Debtor will pay the sum of $10,000.00 to any holder
of a Class 4-A Claim which accepted the Plan. Debtor will have no
further obligation on the Class 4-A Claims with any additional
payments being made from available insurance proceeds, if any. This
will include the release of any claim against the employee of
Debtor to the extent a judgment exceeds available insurance
coverage. A Class 4-A Claim may accept the Plan or reject the Plan
and be treated as a Class 4-B Claim. The amount of claim in this
Class total $9,900,642.52.

Class 4-B consists of Allowed General Unsecured Tort Claims.
Beginning on January 5, 2026 (or January 5, 2024, if there are no
Class 4-C Claimants), and continuing for 36 months, Debtor will
make equal monthly deposits of $50,000.00 to a segregated account
held by the Disbursing Agent to fund the Class 4-B Claim
Distribution. A total of $1,800,000.00 will be deposited into this
account to fund the Class 4-B Distribution. Upon entry of a final,
non-appealable judgment or settlement of a Class 4-B Claim, the
Claim will be first entitled to payment from the maximum available
insurance proceeds.

The remaining Claim amount, if any, will be paid its pro rata share
based on the total amount of potential claims in Class 4-B, to the
extent funds have been deposited. Any Claim amount still remaining
will be paid from the Class 4- B Claims Distribution proceeds that
become available due a final, nonappealable judgment as to any
other Class 4-B Claim for less than the amount claimed, at a
re-calculated Pro Rata share or when additional funds are
deposited. If no holder of a Class 4-B Claim has a final, non
appealable judgment in excess of available insurance, the
Disbursing Agent shall return the funds to Debtor.

Debtor disputes the asserted Class 4-A, Class 4-B, and Class 4-C
Claims. Liability and amount of such Claims shall be determined by
agreement with Debtor or entry of a final, non-appealable judgment
by the applicable state court. Upon confirmation of the Plan, the
automatic stay will be modified to permit the liquidation of such
Claims, but any recovery upon liquidation will be governed by the
Plan. For purposes of voting, the holders of a Class 4-A, Class 4
B, and Class 4-C Claim will be permitted to vote the full value of
their asserted Claim. If the Claim asserts an unknown amount, the
holder of such Claim will be deemed to have asserted damages of
$5,000,000.00 for purposes of voting unless an amount is asserted
in an amended Claim.

Due to the uniqueness of each asserted Tort Claim, Debtor cannot
represent the potential available insurance coverage for a
particular Tort Claim. Generally, Debtor had insurance coverage in
place when each Tort Claim occurred. The applicable policies
provided coverage of up to $1,000,000.00 per incident for both the
provider and Debtor. Additionally, a blanket excess policy provided
an additional $3,000,000.00 per incident (with an aggregate limit
of $12,000,000.00). Effective January 1, 2022, this blanket excess
policy provided an additional $5,000,000.00 per incident (with an
aggregate limit of $15,000,000.00).

Upon entry of the Confirmation Order, Debtor will continue to
operate its business and manage its assets, which will generate
income projected to be sufficient for Debtor to meet its ongoing
expenses and obligations contemplated under the Plan.

A full-text copy of the First Amended Disclosure Statement dated
December 5, 2023 is available at https://urlcurt.com/u?l=wYRu9R
from PacerMonitor.com at no charge.

             About Gilbert, Barbee, Moore & McIlvoy

Gilbert, Barbee, Moore & McIlvoy P.S.C. --
https://www.gravesgilbert.com/ -- is a multi-specialty clinic in
Bowling Green, KY. Graves Gilbert Clinic was founded in 1937 by Dr.
G.Y. Graves and Dr. Tom Gilbert.

Gilbert, Barbee, Moore & McIlvoy filed a petition for relief under
Chapter 11 of the Bankruptcy Code (Bankr. W.D. Ky. Case No.
22-10763) on Dec. 29, 2022. In the petition filed by Steven K.
Sinclair, as chief financial officer, the Debtor reported assets
and liabilities between $10 million and $50 million.

Gilbert, Barbee, Moore & McIlvoy P.S.C. is represented by:

          Brian R. Pollock, Esq.
          Alisa Micu, Esq.
          STITES & HARBISON PLLC
          400 West Market Street, Suite 1800
          Louisville, KY 40202-3352
          Tel: (502) 587-3400
          Email: bpollock@stites.com
                 amicu@stites.com

               - and -

          Charity S. Bird, Esq.
          KAPLAN JOHNSON ABATE & BIRD LLP
          710 West Main Street, 4th Floor
          Louisville, KY 40202
          Tel: (502) 416-1630


GOLD STAR: Hires employ Harlin Parker Attorneys as Counsel
----------------------------------------------------------
Gold Star Express, LLC seeks approval from the U.S. Bankruptcy
Court for the Western District of Kentucky to employ Harlin Parker
Attorneys at Law as counsel.

The firm will render these services:

     (a) advise the Debtor on its powers and duties in the
continued operation of the estate' business and management of its
assets;

     (b) take all necessary action to protect and preserve the
Debtor's estate;

     (c) prepare legal papers; and

     (d) perform all other services for the Debtor in connection
with this Chapter 11 case.

The firm will be paid based upon its normal and usual hourly
billing rates. The firm will also be reimbursed for reasonable
out-of-pocket expenses incurred.

The firm received from the Debtor a retainer of $10,000.

The firm will also be reimbursed for reasonable out-of-pocket
expenses incurred.

Robert Chaudoin, Esq., an attorney at Harlin Parker Attorneys at
Law, disclosed in a court filing that the firm is a "disinterested
person" as that term is defined in Section 101(14) of the
Bankruptcy Code.

The firm can be reached through:

     Robert C. Chaudoin, Esq.
     Harlin Parker Attorneys at Law
     519 East Tenth Avenue
     Bowling Green, KY 42102
     Telephone: (270) 842-5611
     Facsimile: (270) 842-2607
     Email: chaudoin@harlinparker.com

              About Gold Star Express, LLC

Gold Star Express, LLC is a Kentucky limited liability company that
owns and operates a trucking and transportation business.

The Debtor filed Chapter 11 petition (Bankr. W.D. Ky. Case No.
23-10846) on Nov. 16, 2023, with up to $500,000 in assets and up to
$10 million in liabilities. Damira Nezic, member, signed the
petition.

Judge Joan A. Lloyd oversees the case.

Robert C. Chaudoin, Esq., at Harlin Parker, represents the Debtor
as legal counsel.


GOURMET PLUS: Gina Klump Named Subchapter V Trustee
---------------------------------------------------
The U.S. Trustee for Region 17 appointed Gina Klump, Esq., at the
Law Office of Gina R. Klump, as Subchapter V trustee for Gourmet
Plus, Inc.

Ms. Klump will be paid an hourly fee of $485 for her services as
Subchapter V trustee and will be reimbursed for work-related
expenses incurred.  

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

The Subchapter V trustee can be reached at:

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

                        About Gourmet Plus

Gourmet Plus, Inc., doing business as Thatcher's Gourmet Popcorn,
is a family-owned local popcorn business that started in 1983 as a
small retail store in San Francisco.  As of today, the company's
22,000-square-foot warehouse continues to supply major U.S. stores
and specialty gourmet stores. Its popcorn is sold internationally
as well such as Canada, Japan, United Kingdom, Germany, Poland and
Hong Kong.

The Debtor filed Chapter 11 petition (Bankr. N.D. Calif. Case No.
23-41559) on Nov. 28, 2023, with $1,132,128 in assets and
$4,156,286 in liabilities. Abrahim Aboukhalil, president, signed
the petition.

Judge William J. Lafferty oversees the case.

Lars Fuller, Esq., at the Fuller Law Firm, PC, represents the
Debtor as bankruptcy counsel.


GRAND AUGUSTA: Voluntary Chapter 11 Case Summary
------------------------------------------------
Debtor: Grand Augusta LLC
        417 Grand Augusta Lane
        Las Vegas, NV 89144

Business Description: Grand Augusta is a Single Asset Real Estate
                      debtor (as defined in 11 U.S.C. Section
                      101(51B)).

Chapter 11 Petition Date: December 12, 2023

Court: United States Bankruptcy Court
       District of Nevada

Case No.: 23-15475

Debtor's Counsel: Michael J. Harker, Esq.
                  LAW OFFICES OF MICHAEL J. HARKER
                  2901 El Camino Ave
                  Suite 200
                  Las Vegas, NV 89102
                  Tel: 702-248-3000
                  Email: notices@harkerlawfirm.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Shane Hakakian as managing member.

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

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

https://www.pacermonitor.com/view/WWT3QJY/GRAMD_AUGUSTA_LLC__nvbke-23-15475__0001.0.pdf?mcid=tGE4TAMA


GUREEV LLC: Hires Aleinik Law Firm as Special Counsel
-----------------------------------------------------
Gureev LLC seeks approval from the U.S. Bankruptcy Court for the
Eastern District of New York to employ Aleinik Law Firm PLLC as
special counsel.

Aleinik Law Firm will provide legal services in connection with
Civil Court lawsuits named as ESCALANTE ESTRADA, MARIA vs. GUREEV,
LLC, Case No. 537838/2022, and LUKA KVINIKADZE vs GUREEV LLC, Case
No. 1:23-CV-02922, by drafting and filing the answers of pre-answer
motions with the United States District Court Eastern District of
New York, drafting Discovery Demands and provide all necessary
legal services, communicating with Counsels for Plaintiffs and
co-Defendants with the goal to attempt to resolve the matters.

The firm will be paid based upon its normal and usual hourly
billing rates. The firm will also be reimbursed for reasonable
out-of-pocket expenses incurred.

Olga Aleinik, Esq., a partner at Aleinik 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:

     Olga Aleinik, Esq.
     Aleinik Law Firm PLLC
     42 W 38 St. Ste. 1002
     New York, NY 10018
     Tel: (718) 909-1989
     Email: oaleinik@aleiniklaw.com

              About Gureev LLC

Gureev LLC, filed a Chapter 11 bankruptcy petition (Bankr. E.D.
Case No. 1-23-43421) on September 22, 2023. The Debtor hires Law
Offices of Alla Kachan, P.C. as counsel. Aleinik Law Firm PLLC as
special counsel.


HAWAIIAN HOLDINGS: BlackRock Reports 11.4% Stake as of Nov. 30
--------------------------------------------------------------
BlackRock Inc. disclosed in a Schedule 13G/A filed with the
Securities and Exchange Commission that as of November 30, 2023, it
beneficially owns 5,879,204 shares of common stock of Hawaiian
Holdings, Inc., representing 11.4% of the shares outstanding.  A
full-text copy of the regulatory filing is available for free at:

https://www.sec.gov/Archives/edgar/data/1172222/000130655023010472/us4198791018_120623.txt

                      About Hawaiian Holdings

Headquartered in Honolulu, Hawaii, Hawaiian Holdings, Inc. provides
transportation services. As of September 30, 2023, Hawaiian
Holdings has $3,923,260 in total assets and $3,744,502 in total
liabilities.

                              *  *  *

On November 15, 2023, Egan-Jones Ratings Company retained its
'CCC-' foreign currency and local currency senior unsecured
ratings
on debt issued by Hawaiian Holdings.


HAWAIIAN HOLDINGS: Inks Merger Deal With Alaska Air Group
---------------------------------------------------------
Hawaiian Holdings, Inc. announced that the Company entered into an
Agreement and Plan of Merger with Alaska Air Group, Inc., and
Marlin Acquisition Corp., a wholly-owned subsidiary of Alaska.
Subject to satisfaction or waiver of the conditions therein, Marlin
will merge with and into Hawaiian, with Hawaiian surviving as a
wholly owned subsidiary of Alaska. The Merger has been approved
unanimously by Hawaiian's board of directors

Under the definitive agreement, Alaska Airlines will acquire
Hawaiian Airlines for $18 per share in cash, for a transaction
value of approximately $1.9 billion, inclusive of $0.9 billion of
Hawaiian Airlines net debt. The combined company will unlock more
destinations for consumers and expand choice of critical air
service options and access throughout the Pacific region,
Continental United States and globally. The transaction is expected
to enable a stronger platform for growth and competition in the
U.S., as well as long-term job opportunities for employees,
continued investment in local communities and environmental
stewardship.

As airlines rooted in the 49th and 50th U.S. states, which are
uniquely reliant upon air travel, Alaska Airlines and Hawaiian
Airlines share a deep commitment to caring for their employees,
guests and communities. This combination will build on the 90+ year
legacies and cultures of these two service-oriented airlines,
preserve both beloved brands on a single operating platform, and
protect and grow union-represented jobs and economic development
opportunities in Hawai'i, with a combined network that will provide
more options and added international connectivity for travelers
through airline partners including, the oneworld Alliance.

"This combination is an exciting next step in our collective
journey to provide a better travel experience for our guests and
expand options for West Coast and Hawai'i travelers," said Ben
Minicucci, Alaska Airlines CEO. "We have a longstanding and deep
respect for Hawaiian Airlines, for their role as a top employer in
Hawai'i, and for how their brand and people carry the warm culture
of aloha around the globe. Our two airlines are powered by
incredible employees, with 90+ year legacies and values grounded in
caring for the special places and people that we serve. I am
grateful to the more than 23,000 Alaska Airlines employees who are
proud to have served Hawai'i for over 16 years, and we are fully
committed to investing in the communities of Hawai'i and
maintaining robust Neighbor Island service that Hawaiian Airlines
travelers have come to expect. We look forward to deepening this
stewardship as our airlines come together, while providing
unmatched value to customers, employees, communities and owners."

"Since 1929, Hawaiian Airlines has been an integral part of life in
Hawai'i, and together with Alaska Airlines we will be able to
deliver more for our guests, employees and the communities that we
serve," said Peter Ingram, Hawaiian Airlines President and CEO. "In
Alaska Airlines, we are joining an airline that has long served
Hawai'i, and has a complementary network and a shared culture of
service. With the additional scale and resources that this
transaction with Alaska Airlines brings, we will be able to
accelerate investments in our guest experience and technology,
while maintaining the Hawaiian Airlines brand. We are also pleased
to deliver significant, immediate and compelling value to our
shareholders through this all-cash transaction. Together, Hawaiian
Airlines and Alaska Airlines can bring our authentic brands of
hospitality to more of the world while continuing to serve our
valued local communities."

Full-text copies of the Company's Form 8-K Report, filed with the
Securities and Exchange Commission, containing further information,
and the Company's Joint Press Release, filed along with the Form
8-K, are available at https://tinyurl.com/53n9cav4 &
https://tinyurl.com/4a6zk6f9.

                      About Hawaiian Holdings

Headquartered in Honolulu, Hawaii, Hawaiian Holdings, Inc. provides
transportation services. As of September 30, 2023, Hawaiian
Holdings has $3,923,260 in total assets and $3,744,502 in total
liabilities.

                              *  *  *

On November 15, 2023, Egan-Jones Ratings Company retained its
'CCC-' foreign currency and local currency senior unsecured
ratings
on debt issued by Hawaiian Holdings.


HCDI AT SEMIAHMOO: Voluntary Chapter 11 Case Summary
----------------------------------------------------
Debtor: HCDI at Semiahmoo LLC
        1201 Pacific Avenue, Suite 1200
        Tacoma, WA 98402-4395

Business Description: The Debtor is a land developer, builder of
                      apartments, and luxury single-family homes.

Chapter 11 Petition Date: December 11, 2023

Court: United States Bankruptcy Court
       Western District of Washington

Case No.: 23-42183

Judge: Hon. Brian D. Lynch

Debtor's Counsel: Aditi Paranjpye, Esq.
                  CAIRNCROSS & HEMPELMANN, P.S.
                  524 Second Avenue
                  Suite 500
                  Seattle, WA 98104
                  Tel: 206-587-0700
                  Email: aparanjpye@cairncross.com

Estimated Assets: $10 million to $50 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Shelly Crocker as chief restructuring
officer.

A copy of the Debtor's list of 30 largest unsecured creditors is
now available for download at PacerMonitor.com.

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

https://www.pacermonitor.com/view/WKBAMXQ/HCDI_at_Semiahmoo_LLC__wawbke-23-42183__0001.0.pdf?mcid=tGE4TAMA


HCDI BRIDGE: Voluntary Chapter 11 Case Summary
----------------------------------------------
Debtor: HCDI Bridge View, LLC
        1201 Pacific Avenue, Suite 1200
        Tacoma, WA 98402-4395

Business Description: The Debtor is a land developer, builder of
                      apartments, and luxury single-family homes.

Chapter 11 Petition Date: December 11, 2023

Court: United States Bankruptcy Court
       Western District of Washington

Case No.: 23-42187

Judge: Hon. Brian D Lynch

Debtor's Counsel: Aditi Paranjpye, Esq.
                  CAIRNCROSS & HEMPELMANN, P.S.
                  524 Second Avenue
                  Suite 500
                  Seattle, WA 98104
                  Tel: 206-587-0700
                  Email: aparanjpye@cairncross.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Shelly Crocker as chief restructuring
officer.

A copy of the Debtor's list of 30 largest unsecured creditors is
now available for download at PacerMonitor.com.

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

https://www.pacermonitor.com/view/XZVAE7A/HCDI_Bridge_View_LLC__wawbke-23-42187__0001.0.pdf?mcid=tGE4TAMA


HCDI FL CONDO: Voluntary Chapter 11 Case Summary
------------------------------------------------
Debtor: HCDI FL Condo LLC
        1201 Pacific Avenue, Suite 1200
        Tacoma, WA 98402-4395

Business Description: The Debtor is a land developer, builder of
                      apartments, and luxury single-family homes.

Chapter 11 Petition Date: December 11, 2023

Court: United States Bankruptcy Court
       Western District of Washington

Case No.: 23-42188

Judge: Hon. Mary Jo Heston

Debtor's Counsel: Aditi Paranjpye, Esq.
                  CAIRNCROSS & HEMPELMANN, P.S.
                  524 Second Avenue
                  Suite 500
                  Seattle, WA 98104
                  Tel: 206-587-0700
                  Email: aparanjpye@cairncross.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Shelly Crocker as chief restructuring
officer.

A copy of the Debtor's list of 30 largest unsecured creditors is
now available for download at PacerMonitor.

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

https://www.pacermonitor.com/view/UTUP7PY/HCDI_FL_Condo_LLC__wawbke-23-42188__0001.0.pdf?mcid=tGE4TAMA


HELIX ENERGY: Inks Agreements to Repurchase $141MM of Senior Notes
------------------------------------------------------------------
Helix Energy Solutions Group, Inc. disclosed in a Form 8-K Report
filed with the Securities and Exchange Commission that on December
5, 2023, the Company entered into various privately negotiated
purchase agreements with certain holders of its outstanding 6.75%
Convertible Senior Notes due 2026 pursuant to which the Company
will repurchase approximately $141 million aggregate principal
amount of the 2026 Notes, which will be cancelled, a portion of
which will be exchanged solely for $67 million of fixed cash
consideration, plus accrued and unpaid interest, and a portion of
which will be exchanged for a combination of an aggregate of 1.5
million shares of the Company's common stock and an amount of cash
to be determined by utilizing a formula based in part on the daily
volume-weighted average prices per share of the Company's common
stock during the applicable pricing period (such amount of cash,
plus the fixed cash consideration, the "Cash Consideration").

Although the aggregate amount of Cash Consideration paid will
ultimately be determined based on the foregoing formula, for
illustrative purposes only, if the daily volume-weighted average
price per share of the Company's common stock during such period
were equal to $9.00 per share (the closing stock price on December
5, 2023), the aggregate amount of Cash Consideration payable at
settlement pursuant to the Purchase Agreements (in addition to the
Exchange Shares) would be approximately $192 million, plus accrued
and unpaid interest. The Company will issue the Exchange Shares in
reliance on the exemption from the registration requirements
provided by Section 4(a)(2) of the Securities Act of 1933, as
amended.

The Company currently expects the settlement of each of the
Repurchases to occur on or before December 27, 2023, in each case
subject to the satisfaction of certain closing conditions.
Following the settlement of the Repurchases, the Company currently
expects approximately $59 million in aggregate principal amount of
the 2026 Notes will remain outstanding.

In connection with the Repurchases, the Company entered into
agreements with certain financial institutions to terminate a
portion of the capped call transactions entered into in connection
with the issuance of the 2026 Notes in a notional amount
corresponding to the number of shares of the Company's common stock
underlying the 2026 Notes repurchased. In connection with the
Terminations and the related unwinding of the existing hedge
position of the Existing Option Counterparties with respect to such
transactions, such Existing Option Counterparties and/or their
respective affiliates may sell shares of the Company's common stock
in secondary market transactions, and/or unwind various derivative
transactions with respect to the common stock.

                       About Helix Energy

Headquartered in Houston, Texas, Helix Energy Solutions Group, Inc.
is an American oil and gas services company.

As of June 30, 2023, Helix Energy reported $2,423,845,000 in total
assets and $891,917,000 in total liabilities.

                              *  *  *

Egan-Jones Ratings Company on June 23, 2023, maintained its 'CCC+'
foreign currency and local currency senior unsecured ratings on
debt issued by Helix Energy Solutions Group, Inc.


HELLO BELLO: Hildred Capital to Purchase Company Out of Chapter 11
------------------------------------------------------------------
Amelia Pollard of Bloomberg Law reports that Hildred Capital
Management is set to buy bankrupt baby brand Hello Bello after
nobody bested the healthcare-focused private equity firm’s $65
million opening offer, according to court papers.

Hello Bello, best known for its sustainable diapers, filed for
Chapter 11 protection less than two months ago. Actors Kristen Bell
and Dax Shepard launched the Los Angeles-based company in 2019
alongside a deal to sell the products exclusively at Walmart Inc.,
according to a statement at the time.

                        About Hello Bello

Hello Bello(TM) -- https://hellobello.com/ -- makes premium and
affordable baby products designed to eliminate the choice many
parents have to make -- deciding between what's best for their kids
and what's best for their budget.  From diapers, shampoo, and
sunscreen to organic multivitamins, laundry detergent, and wipes
Hello Bello's products are carefully crafted with babies, parents,
and the planet in mind.

Hello Bello sought relief under Chapter 11 of the Bankruptcy Code
(Bankr. D. Del.) on Oct. 23, 2023. In its petition, it listed
assets and liabilities of at least $100 million each.

Willkie Farr & Gallagher LLP and Young Conaway Stargatt & Taylor
LLP are serving as Hello Bello's legal counsel. Jefferies LLC is
serving as investment banker and Emerald Capital Advisors is
serving as financial advisor.

Lowenstein Sandler LLP and Alvarez & Marsal North America, LLC, are
serving as legal counsel and financial advisor, respectively, to
Hildred Capital Management.


IAMGOLD CORP: Signs Agreement to Acquire Vanstar Resources
----------------------------------------------------------
IAMGOLD Corporation announced that it has signed a definitive
arrangement agreement with Vanstar Mining Resources Inc. pursuant
to which IAMGOLD has agreed to acquire all of the issued and
outstanding common shares of Vanstar by way of a court-approved
plan of arrangement under the Canada Business Corporations Act.

Pursuant to the Arrangement Agreement, Vanstar's shareholders will
receive 0.2008 of an IAMGOLD common share for each Vanstar Share.
Based on the 5-day volume weighted average price of IAMGOLD Shares
on the TSX as of December 1, 2023, the consideration to Vanstar's
shareholders and optionholders implies a total transaction value of
approximately $31.1 million (based on the Bank of Canada daily
exchange rate as of December 1).

Vanstar is a gold exploration company with properties located in
Northern Quebec at different stages of development. Vanstar's
primary asset is a 25% interest in the Nelligan Joint Venture
Project which is held under an earn-in option to the joint venture
agreement with IAMGOLD (IAMGOLD: 75%; Vanstar: 25%), and is located
60 kilometres southwest of Chibougamau, Quebec, Canada. Under the
terms of the current joint venture agreement, IAMGOLD has the
option to acquire an additional interest of 5% by completing and
delivering a feasibility study on the project. Vanstar's remaining
20% interest would be retained as an undivided non-contributory
carried interest until the commencement of commercial production,
after which the 20% undivided interest becomes participating and
Vanstar would be required to pay its attributable portion of the
total development and construction costs to the commencement of
commercial production from 80% of its share of any distributions
from the joint venture. Vanstar also hold a 1% NSR royalty on
selected claims of the project.

"This transaction consolidates our interests in the highly
prospective Nelligan deposit while building our exploration
portfolio within Northern Quebec," commented Renaud Adams,
President and Chief Executive Officer of IAMGOLD. "Our exploration
efforts at Nelligan to date, in partnership with Vanstar, have
shown the potential for further resource expansion which we will
continue to advance. While this transaction bolsters our Canadian
exploration portfolio, the priority for IAMGOLD today remains
focused on the successful commissioning, ramp up and growth of Cote
Gold in Ontario. Cote is a project that is critical for the
repositioning of this company, as once online, IAMGOLD will have a
significantly higher production base and lower cost profile,
providing a strong foundation of cashflow and growth opportunities
in Canada."

On January 12, 2023, IAMGOLD announced an updated Mineral Resource
Estimate for Nelligan of 72.2 million tonnes of Indicated Mineral
Resources averaging 0.85 grams of gold per tonne ("g/t Au") for
1.97 million ounces of gold, and 114.1 million tonnes of Inferred
Mineral Resources averaging 0.88 g/t Au for 3.24 million ounces of
gold. The estimate was completed in accordance with the Canadian
Institute of Mining, Metallurgy and Petroleum Definition Standards
incorporated by reference in National Instrument 43-101 - Standards
of Disclosure for Mineral Projects ("NI 43-101").

                 Transaction Conditions and Timing

Full details of the Transaction will be included in a management
information circular of Vanstar that is expected to be mailed to
Vanstar shareholders in early January 2024 (the "Circular"). The
Transaction will be effected by way of a court-approved plan of
arrangement under the Canada Business Corporations Act and will
require the approval of at least 66⅔% of votes cast by Vanstar
shareholders and more than 50% of the votes cast by disinterested
Vanstar shareholders at a special meeting of Vanstar shareholders.

Directors and officers of Vanstar have entered into voting support
agreements pursuant to which they have agreed to vote their Vanstar
Shares in favour of the Transaction. In addition to shareholder and
court approvals, the Transaction is subject to applicable
regulatory approvals and third party consents and the satisfaction
of certain other closing conditions customary in transactions of
this nature. The Transaction is expected to close in the first
quarter of 2024.

Further details of the Transaction are set out in the Arrangement
Agreement and the Circular, both of which will be made available on
Vanstar's SEDAR+ profile at www.sedarplus.ca.

                     About IAMGOLD Corporation

Headquartered in Toronto, Canada, IAMGOLD Corporation is an
intermediate gold producer and developer based in Canada with
operating mines in North America and West Africa.

In June 2023, S&P Global Ratings revised its outlook on IAMGOLD
Corp. to positive from negative and affirmed its 'CCC+' issuer
credit rating.  At the same time, S&P lowered its issue-level
rating on the company's unsecured notes to 'CCC' from 'CCC+' and
revised its recovery rating to '5' from '4'.

In September 2023, Egan-Jones Ratings Company maintained its 'B+'
foreign currency and local currency senior unsecured ratings on
debt issued by IAMGOLD.


IBELIEVEINSWORDFISH: Case Summary & 16 Unsecured Creditors
----------------------------------------------------------
Debtor: iBelieveInSwordfish, Inc.
        818 Fifth Avenue, Suite 300
        San Rafael, CA 94901

Business Description: iBelieveInSwordfish is a motion design
                      studio based in the San Francisco Bay Area
                      specializing in marketing and user
                      experience.

Chapter 11 Petition Date: December 12, 2023

Court: United States Bankruptcy Court
       Northern District of California

Case No.: 23-30835

Judge: Hon. Dennis Montali

Debtor's Counsel: Brent D. Meyer, Esq.
                  MEYER LAW GROUP, LLP
                  268 Bush Street #3639
                  San Francisco, CA 94104
                  Tel: (415) 765-1588
                  Fax: (415) 762-5277
                  E-mail: brent@meyerllp.com

Total Assets: $667,474

Total Liabilities: $1,077,424

The petition was signed by Matthew Silverman as manager and
executive creative director.

A full-text copy of the petition containing, among other items, a
list of the Debtor's 16 unsecured creditors is available for free
at PacerMonitor.com at:

https://www.pacermonitor.com/view/QRLCYIY/iBelieveInSwordfish_Inc__canbke-23-30835__0001.0.pdf?mcid=tGE4TAMA


IBIO INC: Receives $4.5M Gross Proceeds From Securities Offering
----------------------------------------------------------------
iBio, Inc. disclosed in a Form 8-K filed with the Securities and
Exchange Commission that on Dec. 7, 2023, it closed its previously
announced public offering of:

   (i) 600,000 shares of the Company's common stock, par value
$0.001 per share;

  (ii) 1,650,000 pre-funded warrants exercisable for an aggregate
of 1,650,000 shares of Common Stock;

(iii) 2,250,000 Series C common warrants exercisable for an
aggregate of 2,250,000 shares of Common Stock; and

  (iv) 2,250,000 Series D common warrants exercisable for an
aggregate of 2,250,000 shares of Common Stock exercisable for an
aggregate of 2,250,000 shares of Common Stock.

A.G.P./Alliance Global Partners acted as lead placement agent, and
Brookline Capital Markets, a division of Arcadia Securities, LLC,
acted as co-placement agent for the Offering.

Each share of Common Stock and Pre-Funded Warrant, as applicable,
was sold together with one Series C Common Warrant to purchase one
share of Common Stock and one Series D Common Warrant to purchase
one share of Common Stock.  The combined purchase price of each
share of Common Stock and the accompanying Common Warrants was
$2.00 and the combined purchase price of each Pre-Funded Warrant
and the accompanying Common Warrants was $1.9999, which is equal to
the combined purchase price per share of Common Stock and
accompanying Common Warrants, minus the exercise price of each
Pre-Funded Warrant of $0.0001.  The Series C Common Warrants and
the Series D Common Warrants have an exercise price of $2.00 per
share and are immediately exercisable.  The Series C Common
Warrants will expire two years from the date of issuance and the
Series D Common Warrants will expire five years from the date of
issuance.

The Company received approximately $4.5 million in gross proceeds
from the Offering, including the exercise of all Pre-Funded
Warrants and prior to deducting placement agent fees and other
estimated offering expenses payable by the Company and excluding
the net proceeds, if any, from the exercise of the Common Warrants.
The Company intends to use the net proceeds from the Offering
primarily for working capital and general corporate purposes,
including for research and development and other trial preparation
expenses and, retention and severance payments to certain of the
Company's employees or former employees.

The Company agreed to pay the Placement Agents an aggregate cash
fee equal to 5.5% of the gross proceeds received by the Company
from the sale of the securities in the Offering.  Pursuant to the
Placement Agency Agreement, dated Dec. 5, 2023, entered into by and
between the Company and the Placement Agents, the Company also
agreed to reimburse the Placement Agents for their accountable
offering-related legal expenses in an amount up to $75,000 and pay
a non-accountable expense allowance of up to $15,000.  The Company
previously agreed to pay H.C. Wainwright & Co. a tail fee payable
in cash equal to 7.0% of the aggregate gross proceeds raised in the
Offering ($307,580) and warrants equal to 6.0% of the number of
shares of the aggregate number of shares of Common Stock and
Pre-Funded Warrants being offered in the Offering (warrants to
purchase 131,820 shares of Common Stock) at an exercise price equal
to 125% of the Offering Price, if any investor, who H.C Wainwright
& Co. contacted or introduced to the Company during the term of its
engagement, provides the Company with capital in the Offering. The
Tail Warrants have the same terms as the Series D Common Warrants,
except that the Tail Warrants have an exercise price equal to
$2.50. The Tail Warrants have not been registered under the
Securities Act of 1933, as amended in reliance on the exemption
from registration provided by Section 4(a)(2) of the Securities
Act.

                          About iBio Inc.

iBio, Inc. -- http://www.ibioinc.com-- iBio develops
next-generation biopharmaceuticals using computational biology and
3D-modeling of subdominant and conformational epitopes,
prospectively enabling the discovery of new antibody treatments for
hard-to-target cancers and other diseases.  iBio's mission is to
decrease drug failures, shorten drug development timelines, and
open up new frontiers against the most promising targets.

iBio reported a net loss available to the Company's stockholders of
$65.01 million for the year ended June 30, 2023, compared to a net
loss available to stockholders of $50.39 million for the year ended
June 30, 2022.  As of June 30, 2023, the Company had $41.21 million
in total assets, $25.83 million in total liabilities, and $15.38
million in total stockholders' equity.

Holmdel, New Jersey-based CohnReznick LLP, the Company's auditor
since 2010, issued a "going concern" qualification in its report
dated Sept. 27, 2023, citing that the Company has suffered
recurring losses from operations and negative cash flows from
operating activities for the years ended June 30, 2023 and 2022 and
has an accumulated deficit as of June 30, 2023.  These matters,
among others, raise substantial doubt about its ability to continue
as a going concern.


INFINITE BIDCO: Moody's Alters Outlook on 'B3' CFR to Negative
--------------------------------------------------------------
Moody's Investors Service affirmed the ratings of Infinite Bidco
LLC ("Infinite Electronics" or "Infinite"), including the B3
Corporate Family Rating, B3-PD Probability of Default Rating, B2
First Lien Senior Secured Bank Credit Facility (Term Loan and
Revolving Credit Facility), and the Caa2 Second Lien Senior Secured
Bank Credit Facility. The outlook changed to negative from stable.

The negative outlook considers the uncertainty around the timing of
the recovery of the electronic components market, weak cash flow
generation in 2023 that could persist into 2024, and elevated
financial leverage that could take some time to reach the low 7x
range, from about 8.4x estimated at year end 2023.

RATINGS RATIONALE

The B3 CFR reflects elevated leverage with Debt-to-EBITDA
(Moody's-adjusted) of 8.2x at the LTM period ended September 30,
2023, and negative free cash of close to $25 million during the
first nine months of 2023. High leverage results from the company's
LBO by Warburg Pincus in 2021, and more recently from two largely
debt-funded acquisitions of European connectivity solutions
providers Cable Connectivity Group (CCG) and Bulgin.

While Moody's expects leverage to come down below 8x in the next
12-18 months, the exact timing of the recovery is uncertain and
cash flows could be further impacted given the lower demand
environment, ongoing investments in technology, and the high
interest rate environment, which could be exacerbated if inflation
proves harder to tame. That being said, given the expected recovery
of the semiconductor and broader electronics markets, Moody's
expects Infinite to return to revenue growth of about 2-3% in 2024
and that margins will expand, aided by price increases, ongoing
cost actions, and operating leverage.

The company sells to a generally resilient customer base that is
mostly focused on R&D and maintenance, repair and overhaul (MRO)
applications, which are somewhat less impacted by economic
downturns. At the same time, revenues are largely based on
point-in-time sales with little contracted revenue, and companies
have in the past reduced R&D spend during recessions.

Governance considerations take into account concentrated ownership
and aggressive financial policies that have included debt-funded
acquisitions.

Liquidity is adequate and is supported by a $47 million
unrestricted cash balance and about $70 million in revolver
availability at September 30, 2023. Additionally, Moody's expects
that Infinite will generate approximately $10-$15 million of free
cash flow in 2024, which should be sufficient to cover mandatory
term loan amortization of about $11 million. The nearest maturity
is the $100 million revolver, which expires on March 2026, and had
about $22 million in borrowings outstanding and $8 million in
letters of credit at September 30, 2023. The revolver has a
springing 9.0x maximum first lien net leverage test (as defined,
with no step downs) that is tested when revolver utilization is
greater than 40%. The EBITDA cushion under this leverage test is
ample at close to 40%.

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

The ratings could be downgraded if adjusted debt to EBITDA is
sustained above 7.5x or free cash flow fails to progress towards
2%. A material deterioration in liquidity could also lead to a
downgrade.

The ratings could be upgraded with consistent revenue growth and
stable EBITDA margins, while debt-to-EBITDA is sustained below 6x.
Good liquidity and free-cash-flow to debt above the
mid-single-digit range could also lead to an upgrade.

The principal methodology used in these ratings was Distribution
and Supply Chain Services published in February 2023.

Infinite Electronics, Inc., with headquarters in Irvine, CA, is a
global supplier of electronic components and assemblies for the
urgent, unplanned, and last-minute demand of engineers during their
R&D, repair, and design activities. With about $700 million of
revenue, Infinite is majority owned by funds associated with
Warburg Pincus.   


INNOPHOS HOLDINGS: Moody's Affirms 'B2' CFR, Outlook Stable
-----------------------------------------------------------
Moody's Investors Service affirmed Innophos Holdings, Inc.'s (New)
B2 Corporate Family Rating, B2-PD Probability of Default Rating, B1
rating on the senior secured first lien term loan and Caa1 rating
on the senior unsecured notes due 2028. Moody's also affirmed the
Caa1 rating on Iris Holdings, Inc.'s senior unsecured HoldCo PIK
notes. The outlook for Innophos and Iris Holdings is stable.

"The affirmation reflects credit metrics that are supportive of the
current rating, though more challenging market conditions due to
destocking and lower commodity prices have recently resulted in
weaker financial results," said Domenick R. Fumai, Moody's Vice
President and lead analyst for Innophos Holdings, Inc. (New).

RATINGS RATIONALE

The affirmation of the B2 CFR reflects expectations that credit
metrics will remain appropriate for the B2 rating despite recent
challenges associated with inventory destocking that negatively
impacted Innophos' financial performance from the fourth quarter
last year through 2023. Moody's believes phosphoric acid prices
have largely troughed and combined with some incremental volume
growth, should result in a moderate financial performance
improvement in 2024. Financial leverage (Debt/EBITDA) per Moody's
calculation has risen to 5.3x from 2.8x at the end of 2022 and is
expected to remain around 5.0x in FY 2024. Revenue for the 3Q23
declined 23% due to lower volumes and weaker pricing, consistent
with the broader phosphate market. Lower fixed cost absorption, as
well as increased costs associated with a large turnaround at
Coatazcoalcos, contributed to the sharp decline in EBITDA during
the quarter compared to 3Q22. Moody's also believes that the
closure of East Hanover and associated charges will largely be
completed and reduce Nutraceutical Ingredients' cost structure
going forward.

Innophos' B2 rating is constrained by the company's significant
amount of debt on the balance sheet. The rating is further tempered
by lack of scale, limited product diversity and significant
concentration in North America. The credit profile also
incorporates low organic growth rates for phosphate-based additives
and ingredients, which represent a majority of the company's
revenues. An aggressive financial policy by its sponsors, One Rock,
which has included two shareholder distributions including one
earlier this year for $150 million funded by excess cash from the
balance sheet and revolver borrowings is another limiting factor to
the rating.

Innophos benefits from its position as the only North American
vertically integrated specialty phosphate producer with significant
barriers to entry. The rating is supported by the company's strong
market position in the specialty ingredients, diversified customer
base and long-term relationships with major global consumer
products companies and less cyclical end markets. Innophos' rating
is further supported by a good liquidity position with $51 million
of cash and $123 million of availability under its ABL revolving
credit facility as of September 30, 2023.

LIQUIDITY

Innophos has very good liquidity with cash of $51 million as of
September 30, 2023, and approximately $123 million of availability
under the $175 million ABL revolving credit facility, which should
be allow the company to meet short-term working capital
requirements, capital expenditures and interest payments over the
next 12 months. Innophos has no current maturities until the ABL is
due in 2025.

STRUCTURAL CONSIDERATIONS

The Caa1 rating assigned to Iris Holdings, Inc.'s senior unsecured
HoldCo PIK toggle notes due 2026, two notches below the B2 CFR, and
on par with Innophos' unsecured notes, reflects their structural
and contractual subordination to Innophos Holdings, Inc.'s
unsecured notes. However, the HoldCo notes mature prior to the term
loan and senior unsecured notes at Innophos, ensuring that these
notes will be refinanced before the senior unsecured notes are
repaid. The B1 rating on the first lien term loan is rated
one-notch above the CFR reflecting its first lien claim on the
capital stock and fixed assets of Innophos Holdings, Inc. (New) and
second lien on the current assets securing the ABL facility. The
first lien does not contain financial maintenance covenants. The
Caa1 rating on the Innophos senior unsecured notes, two notches
below the CFR, reflects limited recovery prospects given its
subordination in relation to the ABL and first lien term loan.

The stable outlook at Innophos and Iris Holdings reflect elevated
amounts of gross debt offset by exposure to less cyclical end
markets and the expectation that free cash flow will increase due
to additional costs savings and productivity initiatives that will
be more than the additional interest cost associated with the PIK
notes.

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

Although not likely over the next 12-18 months given the increase
in gross debt, Moody's could upgrade the ratings if adjusted
leverage is below 5.0x on a sustained basis, financial performance
doesn't substantially deteriorate and sustained free cash
flow-to-debt above 5%. An upgrade would also require a commitment
from the sponsor to a more conservative financial policy.

Moody's could downgrade the ratings if adjusted leverage is
sustained above 6.5x, free cash flow remains negative for a
sustained period of time, a substantial deterioration in liquidity
occurs, or if the company makes a significant debt-financed
acquisition or has another dividend distribution to the sponsor.

Headquartered in Cranbury, New Jersey, Innophos Holdings, Inc.
(New) is a producer of specialty phosphate salts, acids,
ingredients and related products used by food and beverage,
pharmaceutical, industrial and agricultural end markets. The
company also offers botanical, enzyme and mineral based nutritional
ingredients. Innophos was acquired by private-equity sponsor One
Rock Capital Partners, LLC for $932 million. The company generated
revenues of $993 million in the twelve months ended September 30,
2023.

The principal methodology used in these ratings was Chemicals
published in October 2023.


INTEGRATED CARE: Ongoing Operations to Fund Plan
------------------------------------------------
Integrated Care Concepts and Consultation, LLC filed with the U.S.
Bankruptcy Court for the District of New Jersey a Small Business
Plan of Reorganization dated December 4, 2023.

The Debtor is an integrated mental health group practice providing
various psychiatric, psychotherapy, expressive arts, and mind-body
therapy services to adolescents, adults, couples, and families
located throughout central New Jersey.

Due to the Debtor's financial issues, the Debtor was compelled to
obtain short-term financing. On or about June 12, 2022, ICCC
borrowed $250,000.00 from Idea. The weekly payments are $2,393.54
for a term of 24 months, with a daily interest rate of 0.0740% (or
a weekly interest rate of 0.5180%) which is an annual rate of
27.01%.

On or about April 27, 2023, Fora Financial Advance, LLC For a
purchased a percentage of the proceeds (4.20%) of future
receivables of ICCC for the purchase price of $250,000.00. The
agreement states that Fora is entitled to such proceeds until For a
receives the purchase amount of $327,500.00. However, it was ICCC's
understanding that this agreement was a loan and not a sale of
receivables. The payments to Fora were $5,282.26 weekly. Due to the
high rate of interest to IDEA, and the high rate of weekly payments
to Fora, ICCC has been unable to pay its financial obligations in
the ordinary course of business.

As a result of the factors, ICCC was left with no other choice but
to file a bankruptcy petition and restructure its debts through
operations and/or sale.

As of the Petition Date, the Debtor listed the value of the Cash
totaling $24,244.66 and Receivables in its Official Form 206A/B,
Part 3 totaling ($362,433.56), respectively. The Debtor valued
supplies totaling $3,000.00, vehicles worth a total of $46,024.00
and office furniture and other equipment worth a total of $146,500;
however, the Debtor is in the process of seeking an appraisal of
the office furniture at its locations to obtain a more accurate
estimate of the value of these assets. As of the petition date, the
estimated value of the Debtor's assets were a total of $611,080.40;
however, it is anticipated that figure is actually lower and will
update these numbers upon receipt of any appraisals.

The Debtor has multiple secured creditors. The primary lienholder
is TD Bank, N.A. which has first lien against all assets of the
estate and is owed a total of approximately $486,000.00. There is a
second lienholder, Idea 247, Inc. Idea that has a second lien
pursuant to a recorded UCC-1 financing statement recorded on or
about July 12, 2023. As of the filing date, Idea was owed an
estimated $220,454.49; however, on October 20, 2023, Idea filed a
proof of claim in the amount of $282,437.95. The Debtor has other
creditors that hold claims secured solely by specific pieces of
equipment such as vehicles and business machines totaling less than
$50,000.00. The Debtor has no priority claims and no priority
claims have been filed. The debtor's schedules a total of
$858,305.79 in general unsecured nonpriority debts consisting of
outstanding lease arrears, credit card debt and claims by various
vendors including but not limited to billing companies, utility
companies and law firms.

The Debtor will make quarterly installments ranging from $15,000 to
$25,000 for a 5-year period for distributions to impaired unsecured
creditors. Distributions will total $80,000 annually and a total of
$400,000 over life of plan. The Debtor is also going to be assuming
a number of unexpired leases and executory contracts and will cure
all arrears in the plan. In exchange for receipt of distributions,
creditors will release the reorganized debtor of any further
liability except for its obligations set forth in this plan of
reorganization.

Class 3 consists of General Unsecured Claims. Payment through the
Plan as follows: The Debtor will pay all Allowed General Unsecured
Claims in Quarterly installments over a 5-year period commencing as
of the Effective Date as follows: (i) $20,000.00 on March 31st;
(ii) $25,000.00 on June 30th; (iii) $15,000.00 on September 30th;
and (iv) $20,000.00 on December 31st.

The Plan payments will come from revenues from the Debtor's ongoing
business operations.

On Confirmation of the Plan, all property of the Debtor will
revert, free and clear of all Claims except as provided in the
Plan, to the Debtor. The Debtor expects to have sufficient cash on
hand to make all administrative payments required in the Plan.

A full-text copy of the Plan of Reorganization dated December 4,
2023 is available at https://urlcurt.com/u?l=iIsBaA from
PacerMonitor.com at no charge.

Counsel for Debtor:

     Donald F. Campbell, Jr., Esq.
     Giordano, Halleran & Ciesla, P.C.
     125 Half Mile Road, Suite 300
     Red Bank, NJ 07701
     Tel: 732 741 3900

                 About Integrated Care Concepts

Integrated Care Concepts and Consultation, L.L.C. offers mental
health treatment for individuals, adolescents, children, couples,
and families.

The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. N.J. Case No. 23-17773) on September 5,
2023. In the petition signed by Seth Arkush, managing partner, the
Debtor disclosed $611,080 in total assets and $1,604,180 in total
liabilities.

Judge Michael B. Kaplan oversees the case.

Donald F. Campbell, Jr., Esq., at Giordano, Halleran, Ciesla, P.C.,
represents the Debtor as legal counsel.


IRONNET INC: US Trustee Wants "Opt Out" for 3rd Party Releases
--------------------------------------------------------------
The Office of the U.S. Trustee on Dec. 7, 2023, objected to the
Disclosure Statement explaining the Chapter 11 plan of bankrupt
cybersecurity venture IronNet Inc. , saying the Plan needs to allow
both voting and non-voting creditors to opt out of third-party
releases.

The Debtors seek to work towards confirmation of the proposed plan
in parallel with a sale process, allowing the Debtors to either go
forward with a debt-for-equity swap through a standalone
Restructuring, or consummate a sale transaction as contemplated by
the bidding procedures.

The U.S. Trustee has made informal comments on the "opt-out"
mechanism requesting that parties entitled to vote that vote in
favor of the Plan also be afforded the opportunity to opt-out of
the third party release.

Andrew R. Vara, the United States Trustee for Region 3, said that
the explanatory Disclosure Statement should not be approved,
unless:

   a. the Disclosure Statement is amended to adequately disclose:

       i. the anticipated distributions under the Restructuring and
Sales Transaction
paths;

      ii. how those distributions compare to what creditors would
receive under a
hypothetical chapter 7 in a liquidation analysis; and

   b. the procedures and the Plan are modified to require that
parties voting in favor of
the plan be permitted to opt-out as well

                       About IronNet Inc.

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 October 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.


J SUPOR REALTY: Secured Party Sets January Auction for Properties
-----------------------------------------------------------------
In accordance with applicable provisions of the Uniform Commercial
Code as enacted in New York, by virtue of certain events of default
under those certain ownership interests pledged and security
agreements, each dated as of April 12, 2023 ("pledged agreement"),
executed and delivered by J. Supor Realty LLC, Supor Properties
Boonton Holding LLC, Supor Properties Boonton DE LLC, Supor Manor
Realty LLC, Joseph Supor III, Roseann Supor and The Marital Trust
Under the Last will and testament of Joseph Supor Jr., dated Sept.
13, 2002, as amended by first codicil dated June 14, 2007
("pledgor"), and in accordance with it rights as holder of the
security, 1000 Frank E. Rogers 1 LLC ("secured party"), by virtue
of possession of those certain share certificates held in
accordance with Article 8 of the Uniform Commercial Code of the
State of New York ("code"), and by virtue of those certain UCC-1
Filing statement made in favor of secured party, all in accordance
with Article 9 of the Code, secured party will offer for sale at
public auction, (i) all of pledgor's right, title and interest,
(ii) certain related rights and property.

The secured party's understanding is that the principal assets of
the pledged entities are those certain fee interests in the
following premise located at (i) 500 Supor Boulevard, Harrison, New
Jersey, (ii) 95 Fulton Street, Boonton, New Jersey, (iii) 505 Manor
Avenue, Harrison, New Jersey (iv) 400 Supor Boulevard, Harrison,
New Jersey, and (v) 125-129 Sanford Avenue, Kearny, New Jersey
("Property").

Mannion Auctions under the direction of Matthew D. Mannion, will
conduct a public sale via online bidding on Jan. 17, 2024, at 3:00
p.m. in satisfaction of an indebtedness in the approximate amount
of $90,268,291.69 including principal, interest on principal, and
reasonable fees and costs, plus default interest through Jan. 17,
2024, subject to open charges and all additional costs, fees and
disbursements permitted by law.  The secured party reserves the
right to credit bid.

Online bidding will be made available via Zoom Meeting: Meeting
Link: https://bit.ly/UCCSupor Meeting ID: 840 9275 9057 Passcode:
850199 One Tap Mobile: +16469313860,,84092759057#,,,,*850199# US
+16465588656,,84092759057#,,,,*850199# US (New York) Dial by your
location: +1 646 931 3860 US.  Interested parties who intend to bid
on the collateral must contact:

   Brett Rosenberg
   Jones Lang LaSalle Americas Inc.
   330 Madison Avenue
   New York, New York 10017
   Tel: (212) 812-5926
   Email: Brett.Rosenberg@jll.com


KERF INC: Seeks to Hire Bradford Law Offices as Bankruptcy Counsel
------------------------------------------------------------------
Kerf, Inc. seeks approval from the U.S. Bankruptcy Court for the
Eastern District of North Carolina to hire Bradford Law Offices to
handle its Chapter 11 case.

Bradford Law Offices' hourly rates are as follows:

     Attorney time outside court   $525
     Attorney time in court        $525
     Paralegal time                $185

The Debtor agrees to make initial deposit in the amount of $15,000
upon the execution of the agreement.

Danny Bradford, Esq.,  an attorney at Bradford Law Offices,
disclosed in a court filing that his firm is a "disinterested
person" pursuant to Section 101(14) of the Bankruptcy Code.

The firm can be reached through:
   
     Danny Bradford, Esq.
     BRADFORD LAW OFFICES
     455 Swiftside Drive, Suite 106
     Cary, NC 27518-7198
     Telephone: (919) 758-8879
     Email: Dbradford@bradford-law.com

               About Kerf, Inc.

Kerf, Inc. sought protection for relief under Chapter 11 of the
Bankruptcy Code (Bankr. E.D.N.C. Case No. 23-03508) on Dec 1, 2023,
listing under $1 million in both assets and liabilities. The
petition was signed by Lora Dean, representative.

Danny Bradford, Esq. at Bradford Law Offices represents the Debtor
as counsel.


KEVIN CONCANNON: Court OKs $5MM DIP Loan from Alleon
----------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of Texas,
Houston Division, authorized Kevin Concannon, LLC dba Lifeline
Pharmacy, to use cash collateral and obtain postpetition financing,
on an interim basis.

The Debtor is permitted to obtain a revolving loan facility from
Alleon Capital Partners, LLC, which funds will be used by the
Debtor as working capital solely to the extent provided in the
Budget, up to $750,000 from the DIP Facility on an interim basis.
At the expiration of the Interim Order, the DIP Lender, subject to
entry of the Final Order in a form acceptable to the DIP Lender,
will continue to advance funds through additional DIP advances in
an aggregate amount, inclusive of the Interim DIP Advance, not to
exceed $5 million.

The DIP Facility is expected to mature and be due and payable 12
months from the Expected Funding Date.

The interest rate is the greater of (i) 16.50% per annum or (ii)
the Prime Rate plus the Spread (8%).

The Debtor requires the use of cash collateral to continue the
operation of the pharmacy, provide financial information, pay
employee compensation, payroll taxes, and overhead during the
pendency of the Chapter 11 Case.

Any secured creditor having a valid, perfected security interest is
granted a replacement lien pursuant to 11 U.S.C. sections 361,
363(e) and 364(d)(1)(B) in all assets in which and to the extent
the Debtor holds an interest, whether tangible or intangible,
whether by contract or operation of law, and including all profits
and proceeds thereof. The Replacement Lien will have the same
priority as the secured creditor's prepetition lien. The
Replacement Lien is granted to the extent there is a diminution in
value of a secured creditor's collateral as a result of the
financing and use of cash collateral authorized by the Interim
Order.

Any creditor having a valid, perfected security interest will be
entitled to a superpriority administrative expense claim to the
extent of any diminution in the value of its collateral as a result
of the Interim Order pursuant to 11 U.S.C. section 507(b).

Except for fees due pursuant to the Carve Out, the Debtor will not
be authorized to borrow funds and/or use cash collateral for any
purpose hereunder on or after the Termination Date without an
express Court order authorizing the same.  Termination Date means
the earliest to occur of (a) the Contractual Termination Date, (b)
the Early Termination Date, and (c) the effective date of
termination as set by DIP Lender pursuant to the terms of the
Agreement.

A final hearing on the matter is set from January 25, 2024 at 1
p.m.

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

              About Kevin Concannon LLC
               d/b/a Lifeline Pharmacy

Kevin Concannon, LLC is a locally owned pharmacy serving the
Edinburg, McAllen, Mission, San Juan, Alamo, Elsa, Alton, Weslaco,
Pharr, Hidalgo, Mercedes, Donna, Palmview, La Joya, Penrtas,
Palmhurst and the surrounding areas.

The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. S.D. Tex. Case No. 23-90759) on August 2,
2023. In the petition signed by Kevin Concannon, manager, the
Debtor disclosed up to $50 million in both assets and liabilities.

Judge Christopher M. Lopez oversees the case.

Patrick J. Neligan Jr., Esq., at Neligan LLP, represents the Debtor
as legal counsel.



KIDDE-FENWAL: Saccullo & Kelley Update List of Government Claimants
-------------------------------------------------------------------
The Ad Hoc Group of Governmental Claimants in the chapter 11 case
of Kidde-Fenwal, Inc., filed a seventh amended verified statement
pursuant to Rule 2019 of the Federal Rules of Bankruptcy Procedure.


The Committee members hold unsecured claims against the Debtor's
estate related to the Debtor's design, manufacture, distribution,
and sale of aqueous film-forming foam.

The members of the Ad Hoc Group of Governmental Claimants are:

   1. The State of Maryland
   2. The Commonwealth of Massachusetts
   3. The State of New Mexico
   4. The State of New Hampshire
   5. The State of New Jersey
   6. The State of North Carolina
   7. Commonwealth of the Northern Mariana Islands
   8. The State of Oregon
   9. The State of Rhode Island
  10. The State of Tennessee
  11. The State of Texas
  12. Suffolk County Water Authority
  13. State of Washington
  14. State of Wisconsin
  15. Commonwealth of Virginia
  16. Commonwealth of Pennsylvania
  17. State of Delaware
  18. The State of New York
  19. The State of Maine
  20. State of Vermont
  21. State of Hawaii
  22. Commonwealth Utilities Corporation
  23. Guam Waterworks Authority
  24. The State of Connecticut
  25. District of Columbia Attn: Wesley Rosenfel
  26. Government of Guam

Counsel to the Ad Hoc Committee of Governmental Claimants

        Anthony M. Saccullo, Esq.
        Mark T. Hurford, Esq.
        Mary E. Augustine, Esq.
        A. M. SACCULLO LEGAL, LLC
        27 Crimson King Drive
        Bear, DE 19701
        Tel: (302) 836-8877
        Fax: (302) 836-8787
        E-mail: ams@saccullolegal.com
                mark@saccullolegal.com
                meg@saccullolegal.com

              - and -

        James S. Carr, Esq.
        KELLEY DRYE & WARREN LLP
        3 World Trade Center
        175 Greenwich Street
        New York, NY 10007
        Tel: 212-808-7800
        Fax: 212-808-7897
        E-mail: Jcarr@kelleydrye.com

              - and -

        Sean T. Wilson, Esq.
        KELLEY DRYE & WARREN LLP
        515 Post Oak Blvd, Suite 900
        Houston, TX 77027
        Telephone: (212) 808-7612
        Facsimile: (713) 355-5001
        E-mail: Swilson@kelleydrye.com

                      About Kidde-Fenwal

Kidde-Fenwal Inc. -- https://www.kidde-fenwal.com/ -- manufactures
fire protection systems.  It offers products such as fire control
systems, explosion aircraft protection, laser-based smoke detection
devices, electronic gas ignitions, and fire suppressions.
Kidde-Fenwal markets its products to mining, manufacturing,
education, and commercial sectors.

Kidde-Fenwal sought relief under Chapter 11 of the U.S. Bankruptcy
Code (Bankr. D. Del. Case No. 23-10638) on May 14, 2023.  In the
petition filed by its chief transformation officer, James
Mesterharm, the Debtor reported assets between $100 million and
$500 million and estimated liabilities between $1 billion and $10
billion.

The Debtor tapped Sullivan & Cromwell, LLP and Morris Nichols Arsht
& Tunnell, LLP as legal counsels; and Guggenheim Securities, LLC as
investment banker.  Stretto, Inc. is the claims and noticing agent
and administrative advisor.


KIDDE-FENWAL: Sale Process Okayed Despite Objections
----------------------------------------------------
Vince Sullivan of Law360 reports that fire suppression system
company Kidde-Fenwal Inc. can move forward with its Chapter 11
asset sale process after a Delaware bankruptcy judge overruled
objections from a committee of unsecured creditors that asked to
delay the timeline until after mediation over liability for
injuries allegedly caused by its firefighting foam products.

Judge Laurie Selber Silverstein on Dec. 12, 2023, entered an order
approving bid procedures in connection with the sale of all or
substantially all of the Debtor's assets.  The Debtor will identify
the stalking horse bidder, if any, by Jan. 5, 2024, at 5:00 p.m.
(prevailing Eastern Time).  Interested parties must submit required
bid documents by 5:00 p.m. (prevailing Eastern Time) on Jan. 11,
2024.  In the event that the Debtor timely receives two or more
qualified bids with respect to the same or overlapping assets, the
Debtor is authorized to conduct one or more auctions.  The sale
hearing will be conducted on Jan. 24, 2024 at 10:00 a.m.
(prevailing Eastern Time).

                      About Kidde-Fenwal

Kidde-Fenwal Inc. -- https://www.kidde-fenwal.com/ -- manufactures
fire protection systems.  It offers products such as fire control
systems, explosion aircraft protection, laser-based smoke detection
devices, electronic gas ignitions, and fire suppressions.
Kidde-Fenwal markets its products to mining, manufacturing,
education, and commercial sectors.

Kidde-Fenwal sought relief under Chapter 11 of the Bankruptcy Code
(Bankr. D. Del. Case No. 23-10638) on May 14, 2023.  In the
petition filed by its chief transformation officer, James
Mesterharm, the Debtor reported assets between $100 million and
$500 million and estimated liabilities between $1 billion and $10
billion.

The Debtor tapped Sullivan & Cromwell, LLP and Morris Nichols Arsht
& Tunnell, LLP as bankruptcy counsels; Covington & Burling, LLP as
special insurance counsel; and Guggenheim Securities, LLC as
investment banker.  Stretto, Inc., is the claims and noticing agent
and administrative advisor.

The official committee of unsecured creditors appointed in the
Debtor's Chapter 11 case tapped Brown Rudnick, LLP and Stutzman,
Bromberg, Esserman & Plifka, A Professional Corporation as
bankruptcy counsels; Gilbert, LLP and KTBS Law, LLP as special
counsels; Province, LLC, as financial advisor; and Houlihan Lokey
Capital, Inc., as investment banker.


KOMBU KITCHEN: Seeks to Hire Bent Caryl & Kroll as Special Counsel
------------------------------------------------------------------
Kombu Kitchen SF LLC d/b/a NIBLL seeks approval from the U.S.
Bankruptcy Court for the Central District of California to employ
Bent Caryl & Kroll, LLP as its special litigation counsel.

The firm will represent the Debtor in the two lawsuits pending in
the Alameda County Superior Court of California captioned as AJA DE
COUDREAUX, ET. AL V. KOMBU KITCHENS SF, LLC (NYBLL), et al., Case
No. RG20058323, and MA DE JESUS VERGARA V. KOMBU KITCHEN SF, LLC
(NYBLL), Case No. RG20057449. The Debtor requires the firm's
expertise to assist proposed general bankruptcy counsel in
evaluating the benefits, detriments and costs associated with
potential objections to the Plaintiff's anticipated proofs of
claim, to address the impact of any plan of reorganization upon the
State Court Actions and specific employment-related matters and to
make any appearances before the Alameda Superior Court as required
to apprise the Court of the status of the Bankruptcy Case.

The firm is holding an advance fee retainer in the amount of
$3,000.

The hourly billing rate for partners at the firm for this matter is
$300.

The firm does not represent any interest adverse to Debtor or the
Estate, as disclosed in the court filings.

The firm can be reached through:

     Jesse M. Caryl, Esq.
     Bent Caryl & Kroll, LLP
     6300 Wilshire Boulevard, Suite 1415
     Los Angeles, CA 90048
     Telephone: (323) 315-0510
     Facsimile: (323) 774-6021
     Email: jcaryl at bcklegal.com

             About Kombu Kitchen SF LLC d/b/a NIBLL

Kombu Kitchen SF LLC is a corporate catering company in
California.

The Debtor filed a petition under Chapter 11, Subchapter V of the
Bankruptcy Code (Bankr. C.D. Calif. Case No. 23-17276) on Nov. 1,
2023, with $1,748,762 in assets and $1,527,579 in liabilities.
Keven Thibeault, chief executive officer, signed the petition.

Judge Sandra R. Klein oversees the case.

Daniel Weintraub, Esq., at Weintraub Zolkin Talerico & Selth, LLP,
represents the Debtor as legal counsel.


KOMBU KITCHEN: Seeks to Hire Marcum LLP as Financial Advisor
------------------------------------------------------------
Kombu Kitchen SF LLC d/b/a NIBLL seeks approval from the U.S.
Bankruptcy Court for the Central District of California to employ
Marcum, LLP, as its financial advisor.

The firm will render these services:

     a) analyze the Debtor's books and records and perform any
necessary business advisory work required by the estate, including
communication with the Court, and the Office of the United States
Trustee;

     b) analyze and assist the Debtor in the preparation of
Debtor's cash projections and plan and monthly operating reports;

     c) provide litigation support, valuation and expert witness
services for the Debtor, if necessary;

     d) provide such other financial advisory and consulting
services as requested by the Debtor; and

     e) advise the Debtor's other professionals, including, but not
limited to, its general bankruptcy counsel, on related financial
advisory issues.

The firm will be paid at these rates:

     William Stetter     $330 per hour
     CFO                 $330 per hour
     Controller          $200 per hour
     FP&A                $200 per hour
     Bookkeeper          $125 per hour

The firm received a retainer in the amount of $15,000.

William Stetter, a managing director at Marcum, assured the court
that his firm is a "disinterested person" under Bankruptcy Code
Section 101(14).

The firm can be reached through:

     William Stetter
     Marcum, LLP
     6 Worcester Road
     Norfolk, MA 02056
     Phone: (508) 654-3335
     Email: bill.stetter@marcumllp.com

             About Kombu Kitchen SF LLC d/b/a NIBLL

Kombu Kitchen SF LLC is a corporate catering company in
California.

The Debtor filed a petition under Chapter 11, Subchapter V of the
Bankruptcy Code (Bankr. C.D. Calif. Case No. 23-17276) on Nov. 1,
2023, with $1,748,762 in assets and $1,527,579 in liabilities.
Keven Thibeault, chief executive officer, signed the petition.

Judge Sandra R. Klein oversees the case.

Daniel Weintraub, Esq., at Weintraub Zolkin Talerico & Selth, LLP,
represents the Debtor as legal counsel.


LB LOGISTICS: Voluntary Chapter 11 Case Summary
-----------------------------------------------
Debtor: LB Logistics LLC
           d/b/a Lobsterboy
        40 New York Ave.
        Huntington, NY 11743

Business Description: The Debtor is a lobster harvester and
                      distributor.

Chapter 11 Petition Date: December 12, 2023

Court: United States Bankruptcy Court
       Southern District of New York

Case No.: 23-11993

Debtor's Counsel: Stephen M. Packman, Esq.
                  ARCHER & GREINER, P.C.
                  1211 Avenue of the Americas
                  Suite 2750
                  New York, NY 10036
                  Tel: 212-963-3300
                  Email: spackman@archerlaw.com

Estimated Assets: $0 to $50,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Travis Maderia as member.

A copy of the Debtor's list of 20 largest unsecured creditors is
now available for free at PacerMonitor.com.

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

https://www.pacermonitor.com/view/GRKW2JI/LB_Logistics_LLC__nysbke-23-11993__0001.0.pdf?mcid=tGE4TAMA


LBU FRANCHISES: Tom Howley of Howley Law Named Subchapter V Trustee
-------------------------------------------------------------------
The U.S. Trustee for Region 7 appointed Tom Howley, Esq., at Howley
Law, PLLC as Subchapter V trustee for LBU Franchises Corporation.

Mr. Howley will be paid an hourly fee of $550 for his services as
Subchapter V trustee and will be reimbursed for work-related
expenses incurred.  

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

The Subchapter V trustee can be reached at:

     Tom Howley, Esq.
     Howley Law, PLLC
     711 Louisiana Street, Suite 1850
     Houston, TX 77002
     Telephone: (713) 333-9120
     Email: tom@howley-law.com

                 About LBU Franchises Corporation

LBU Franchises Corporation filed a petition under Chapter 11,
Subchapter V of the Bankruptcy Code (Bankr. S.D. Texas Case No.
23-34586) on Nov. 22, 2023, with up to $500,000 in assets and up to
$1 million in liabilities. David Bekker, president, signed the
petition.

Judge Jeffrey P. Norman oversees the case.

Broocks McClure Wilson, Esq., at Kean Miller, LLP represents the
Debtor as legal counsel.


LENDINGTREE INC: S&P Upgrades ICR to 'CCC+', Outlook Negative
-------------------------------------------------------------
S&P Global Ratings raised the issuer credit rating on LendingTree
Inc. to 'CCC+' from 'SD' (selective default).

The 'B' issue level ratings on LendingTree's $200 million senior
secured revolving credit facility (RCF) due 2026 and $250 million
senior secured term loan due 2028 are unchanged. The '1' recovery
ratings remain unchanged.

S&P said, "The negative outlook reflects the potential for a lower
rating if digital advertising does not recover as we currently
expect in the second half of 2024, amplifying refinancing risk for
the company's convertible notes due in July 2025. It also reflects
the risk of further debt repurchases below par within the next 12
months, which we would likely view as tantamount to a default given
challenged operating trends and uncertainty around addressing
upcoming debt maturities.

"The 'CCC+' rating reflects our belief that LendingTree depends on
favorable economic and operating conditions to refinance its $284
million (outstanding) senior unsecured convertible notes due in
July 2025. We expect the company's leverage to be about 7x and free
operating cash flow (FOCF) to debt to be about 9% in 2024 following
its recent $100 million below-par debt repurchase and $290 million
of total debt repurchases year to date. This compares favorably
with our 2023 expectation of leverage of about 8x and FOCF to debt
of 7%.

"However, we believe LendingTree could still potentially struggle
to refinance its senior unsecured convertible notes if it cannot
decrease leverage toward 6x in advance of the debt maturity or if
it has to do so at a significantly higher interest rate that could
pressure its FOCF to debt coverage. We note visibility into 2024
and beyond is highly limited, and LendingTree's performance is
dependent on improved consumer discretionary spending and
macroeconomic conditions. If economic conditions deteriorate or
stagnate beyond our current expectations, the company's revenue and
EBITDA generation will likely be much weaker than our current
forecast.

"Our base case assumes LendingTree's credit measures improve in
2024 from its recent debt repurchases, workforce reductions, the
sunsetting of unprofitable products, and our expectations for slow
but gradual improvement in its performance next year given our
expectations for interest rates and inflation to subside in the
second half of 2024.

"We also assume the company's liquidity will remain adequate over
the next 12 months as it still has about $100 million of cash on
the balance sheet after the debt repurchase. In addition, we expect
it to generate about $91 million of S&P Global Ratings-adjusted
EBITDA in 2024 to service its debt and fund other liquidity needs.
However, we note its EBITDA is still far below its levels in 2021,
when the company generated $124 million of S&P Global
Ratings-adjusted EBITDA.

"We expect that LendingTree will continue to buy back debt below
par, which we would likely view as tantamount to a default. The
company's senior unsecured notes are currently trading at about 80
cents on the dollar, with a yield of close to 15% following its
recent debt repurchase. The discount associated with the value of
the company's senior notes increases the potential it will
negotiate further additional subpar debt buybacks as the maturity
of the notes approaches in July 2025. If the company repurchases
additional debt below par, we would likely view it as distressed
and tantamount to a default, as given the company's challenged
operating trends, we believe it faces increased refinancing risk
and uncertainty around future cash flows.

"The negative outlook reflects the potential for a lower rating if
digital advertising does not recover as we currently expect in the
second half of 2024, thereby amplifying refinancing risk for
LendingTree's convertible notes due in July 2025. It also reflects
the risk of further debt repurchases below par within the next 12
months, which we would likely view as tantamount to a default given
challenged operating trends and uncertainty around addressing
upcoming debt maturities.

"We could lower the ratings on LendingTree if the company pursues
additional below-par debt repurchases that we deem tantamount to a
default. We could also lower the rating if a default, distressed
exchange, or redemption appears to be inevitable within 12 months,
absent unanticipated significantly favorable changes in the
company's circumstances from our current expectations.

"We view an upgrade as unlikely during the next 12 months, given
LendingTree's challenged operating performance, refinancing risks
around its 2025 maturity, and uncertainty toward future expected
cash flows." However, S&P could raise the rating if:

-- S&P no longer believes the company faces refinancing risk;

-- Interest rates decline and inflation subsides such that the
company's business rebounds, resulting in a period of sustained
revenue and EBITDA growth; and

-- S&P expects it to continue to generate sustainably positive
FOCF with a clear path to reducing leverage below 6x.



LINDY INC: Voluntary Chapter 11 Case Summary
--------------------------------------------
Debtor: Lindy Inc.
          d/b/a Lobsterboys
        40 New York Ave.
        Huntington, NY 11743
       
Business Description: The Debtor is a lobster harvester and
                      distributor.

Chapter 11 Petition Date: December 12, 2023

Court: United States Bankruptcy Court
       Southern District of New York

Case No.: 23-11992

Debtor's Counsel: Stephen M. Packman, Esq.
                  ARCHER & GREINER, P.C.
                  1211 Avenue of the Americas
                  Suite 2750
                  New York, NY 10036
                  Tel: 212-963-3300
                  Email: spackman@archerlaw.com

Estimated Assets: $0 to $50,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Justin M. Maderia as president.

A copy of the Debtor's list of 20 largest unsecured creditors is
now available for download at PacerMonitor.com.

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

https://www.pacermonitor.com/view/B7C3AUQ/Lindy_Inc__nysbke-23-11992__0001.0.pdf?mcid=tGE4TAMA


LIVINGSTON TOWNSHIP: Hires Heritage as Real Estate Broker
---------------------------------------------------------
Livingston Township Fund One, LLC seeks approval from the U.S.
Bankruptcy Court for the Southern District of Mississippi to employ
Christine Greenlee at Heritage Real Estate, LLC as real estate
broker.

The firm will market and sell the Debtor's real property located at
115 Livingston Church Road, Flora, MS 39071.

The firm will be paid a commission of 4 percent of the sales
price.

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

The firm can be reached at:

     Christine Greenlee
     Heritage Real Estate, LLC
     116 Livingston Church Rd.
     Flora, MS 39071
     Tel: (601) 941-3035

              About Livingston Township Fund One, LLC

Livingston Township Fund One, LLC filed a petition under Chapter
11, Subchapter V of the Bankruptcy Code (Bankr. S.D. Miss. Case No.
23-02573) on Nov. 6, 2023, with $1 million to $10 million in both
assets and liabilities. Michael Bollenbacher, managing member,
signed the petition.

Judge Jamie A. Wilson oversees the case.

Eileen N. Shaffer, Esq., represents the Debtor as legal counsel.


LOBSTER BOYS: Voluntary Chapter 11 Case Summary
-----------------------------------------------
Debtor: Lobster Boys LLC
           d/b/a Lobsterboys
        40 New York Ave.
        Huntington, NY 11743

Business Description: The Debtor is a lobster harvester and
                      distributor.

Chapter 11 Petition Date: December 12, 2023

Court: United States Bankruptcy Court
       Southern District of New York

Case No.: 23-11986

Debtor's Counsel: Stephen M. Packman, Esq.
                  ARCHER & GREINER, P.C.
                  1211 Avenue of the Americas
                  Suite 2750
                  New York, NY 10036
                  Tel: 212-963-3300
                  Email: spackman@archerlaw.com

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

Estimated Liabilities: $1 million to $10 million

The petition was signed by Travis Maderia as member.

A copy of the Debtor's list of 20 largest unsecured creditors is
now available for download at PacerMonitor.com.

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

https://www.pacermonitor.com/view/NN5ILTQ/Lobster_Boys_LLC__nysbke-23-11986__0001.0.pdf?mcid=tGE4TAMA


LOBSTERBOYS CHICAGO: Voluntary Chapter 11 Case Summary
------------------------------------------------------
Debtor: Lobsterboys Chicago LLC
          DBA Lobsterboys
        40 New York Ave.
        Huntington, NY 11743
        
Business Description: The Debtor is a lobster harvester and
                      distributor.

Chapter 11 Petition Date: December 12, 2023

Court: United States Bankruptcy Court
       Southern District of New York

Case No.: 23-11991

Debtor's Counsel: Stephen M. Packman, Esq.
                  ARCHER & GREINER, P.C.
                  1211 Avenue of the Americas
                  Suite 2750
                  New York, NY 10036
                  Tel: 212-963-3300
                  Email: spackman@archerlaw.com

Estimated Assets: $0 to $50,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Travis Maderia as member.

A copy of the Debtor's list of 20 largest unsecured creditors is
now available for download at PacerMonitor.com.

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

https://www.pacermonitor.com/view/ZOQIHKY/Lobsterboys_Chicago_LLC__nysbke-23-11991__0001.0.pdf?mcid=tGE4TAMA


MEDICAL HEALING: Case Summary & Nine Unsecured Creditors
--------------------------------------------------------
Debtor: Medical Healing Center, LLC
           d/b/a The Medical Healing Center
        225 Office Plaza Drive
        Tallahassee, FL 32301

Business Description: Medical Healing provides adult primary
                      care with an emphasis on holistic medicine.

Chapter 11 Petition Date: December 12, 2023

Court: United States Bankruptcy Court
       Northern District of Florida

Case No.: 23-40478

Debtor's Counsel: Byron W. Wright III, Esq.
                  BRUNER WRIGHT, P.A.
                  2810 Remington Green Circle
                  Tallahassee, FL 32308
                  Tel: (850) 385-0342
                  Fax: (850) 270-2441
                  Email: twright@brunerwright.com

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

Estimated Liabilities: $1 million to $10 million

The petition was signed by Angela D Myers as managing member.

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

https://www.pacermonitor.com/view/JG63NFQ/Medical_Healing_Center_LLC__flnbke-23-40478__0001.0.pdf?mcid=tGE4TAMA


MERCURITY FINTECH: Announces $6M Private Placement Financing
------------------------------------------------------------
Mercurity Fintech Holding Inc. announced that on November 30, 2023,
it priced a private investment in public equity ("PIPE") offering,
through which it sold an aggregate of 14,251,781 units of its
securities, each consisting of one ordinary share and three
warrants, to one non-U.S. institutional investor at an offering
price of $0.421 per unit. The offering price was for the gross
proceeds of $6 million (the Gross Proceeds) prior to the deduction
of fees and offering expenses payable by the Company. The warrants
are exercisable to purchase up to a total of 42,755,344 ordinary
shares, for a period of three years commencing from November 30,
2023, at an exercise price of US$1.00 per ordinary share.

The Company intends to utilize the net proceeds derived from the
PIPE for general working capital purposes, enhancing its human
capital and business development. The PIPE financing proceeds were
received on December 4, 2023.

The securities described above were sold in a private placement and
have not been registered under the Securities Act of 1933, as
amended, and may not be offered or sold in the United States absent
registration with the Securities and Exchange Commission (the
"SEC") or an applicable exemption from such registration
requirements.

Shi Qiu, CEO of MFH, commented on this significant development,
stating, "We are grateful to our investors for their continued
support and investments that will allow us to grow our business.
Our commitment to delivering value to our public shareholders is
the driving force behind our decision-making. By accepting these
commitments for a strategic infusion of growth capital, we are
confident that our company will continue to expand upon a solid
foundation for success."

                      About Mercurity

Formerly known as JMU Limited, Mercurity Fintech Holding Inc. is a
digital fintech group powered by blockchain technology.  The
Company's primary business scope includes digital asset trading,
asset digitization, cross-border remittance and other services,
providing compliant, professional, and highly efficient digital
financial services to its customers.  The Company recently began to
narrow in on Bitcoin mining, digital currency investment and
trading, and other related fields.  This shift has enabled the
company to deepen its involvement in all aspects of the blockchain
industry, from production to circulation.

Mercurity reported a net loss of US$5.63 million in 2022, compared
to a net loss of US$21.66 million in 2021. As of Dec. 31, 2022, the
Company had US$18.89 million in total assets, US$2.06 million in
total liabilities, and US$16.83 million in total shareholders'
equity.

Singapore-based Onestop Assurance PAC, the Company's auditor since
2023, issued a "going concern" qualification in its report dated
April 25, 2023, citing that the Company has incurred recurring
operating losses and negative cash flows from operating activities
and has an accumulated deficit, which raise substantial doubt about
its ability to continue as a going concern.



MINI MANSION: Mark Shapiro Named Subchapter V Trustee
-----------------------------------------------------
The U.S. Trustee for Regions 3 and 9 appointed Mark Shapiro of
Steinberg, Shapiro & Clark as Subchapter V trustee for Mini
Mansion, LLC.

Mr. Shapiro will be paid an hourly fee of $400 for his services as
Subchapter V trustee and will be reimbursed for work-related
expenses incurred.  

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

The Subchapter V trustee can be reached at:

     Mark H. Shapiro
     Steinberg, Shapiro & Clark
     25925 Telegraph Rd., Ste. 203
     Southfield, MI 48033
     Phone: (248) 352-4700
     Email: shapiro@steinbergshapiro.com

                         About Mini Mansion

Mini Mansion, LLC filed a petition under Chapter 11, Subchapter V
of the Bankruptcy Code (Bankr. E.D. Mich. Case No. 23-50440) on
Nov. 29, 2023, with $100,001 to $500,000 in both assets and
liabilities.

Judge Thomas J. Tucker oversees the case.

Guy T. Conti, Esq., at The Law Offices of Guy T. Conti, PLLC
represents the Debtor as bankruptcy counsel.


MOBIQUITY TECHNOLOGIES: Shares Suspended by Nasdaq
--------------------------------------------------
Mobiquity Technologies, Inc. disclosed in a Form 8-K filed with the
Securities and Exchange Commission that the Company received a
letter from the Nasdaq Hearings Panel notifying the Company, among
other things, (a) that despite the Company's claims of having
regained compliance with a stockholder equity value of over $2.5
million, and its claims that it will see increased revenue in the
new year, Nasdaq concluded that in light of the Company's burn
rate, the Company's stockholder equity was below the minimum, and
(b) that the Panel has determined to delist the Company's
securities from trading on Nasdaq, based on the Company's
historical financial information on expenses and burn rate, and the
Panel's view that the Company's stockholders' equity value is
likely going to continue to remain below the level required to
maintain compliance.  Trading in the Company's securities on Nasdaq
was suspended effective at the open of trading on Dec. 7, 2023.

Following a suspension of trading in its securities on Nasdaq, the
Company's securities will be quoted on the OTC Markets.  For quotes
or additional information on the OTC Markets, visit
http://www.otcmarkets.com.

Pursuant to applicable Nasdaq rules, the Company has the right to
request that the Nasdaq Listing and Hearing Review Council review
the Panel's decision within 15 days following the date of the
Panel's letter.  During the appeal period and the appeals process,
trading in the Company's securities on Nasdaq will remain
suspended, and Nasdaq will not take further action to delist the
Company's securities.

The Company is currently evaluating whether or not to appeal
Nasdaq's decision.  The evaluation will encompass an analysis of
the benefits of continuing to be listed on Nasdaq compared to the
substantial costs, including the extensive commitment of
management's time and resources for complying with various listing
requirements.

On Nov. 22, 2022, the Listing Qualifications department of The
Nasdaq Stock Market LLC notified Mobiquity that it did not comply
with the minimum $2,500,000 stockholders' equity requirement for
continued listing set forth in Nasdaq Listing Rule 5550(b).  On
July 31, 2023 the Company was given a grace period until Nov. 14,
2023 by the Nasdaq Hearings Panel to regain the shareholder equity
minimum.  The Company said that as of Nov. 14, 2023, its
stockholders' equity was above the required $2,500,000 minimum
stockholders' equity requirement.

                   About Mobiquity Technologies Inc.

Headquartered in Shoreham, NY, Mobiquity Technologies, Inc., is a
next-generation advertising technology, data compliance and
intelligence company which operates through its various proprietary
software platforms. The Company's product solutions are comprised
of three proprietary software platforms: Advertising Technology
Operating System (ATOS Platform); Data Intelligence Platform; and
Publisher Platform for Monetization and Compliance.

Mobiquity reported a net loss of $8.06 million in 2022, compared to
a net loss of $18.33 million in 2021. As of Dec. 31, 2022, the
Company had $2.63 million in total assets, $2.65 million in total
liabilities, and a total stockholders' deficit of $10,830.

Palm Beach Gardens, FL-based D. Brooks & Associates, the Company's
auditor since 2022, issued a "going concern" qualification in its
report dated March 31, 2023, citing that the Company has incurred
operating losses, has incurred negative cash flows from operations
and has an accumulated deficit.  These and other factors raise
substantial doubt about the Company's ability to continue as a
going concern.


MS BEE'S POPCORN: Updates Unsecured Claims Pay; Files Amended Plan
------------------------------------------------------------------
Ms Bee's Popcorn & Candy Shoppe, LLC, submitted a First Amended
Plan of Reorganization dated December 4, 2023.

This Plan provides for: 1 class of unsecured claims; and 1 class of
equity security holders.

Class 1 consists of the Allowed Unsecured Claims against the
Debtor. This Class is Impaired.

     * Consensual Plan Treatment: The liquidation value or amount
that unsecured creditors would receive in a hypothetical chapter 7
case is approximately $1,596.92. The Debtor proposes to pay
unsecured creditors a pro rata portion of $18,000.00. Payments will
be made in equal quarterly payments of $1,500.00. Payments shall
commence on the fifteenth day of the month, on the first month that
begins more than fourteen days after the Effective Date and shall
continue quarterly for eleven additional quarters. Pursuant to
Section 1191 of the Bankruptcy Code, the value to be distributed to
unsecured creditors is greater than the Debtor's projected
disposable income to be received in the 3-year period beginning on
the date that the first payment is due under the plan. Holders of
Class 1 claims shall be paid directly by the Debtor.

     * Nonconsensual Plan Treatment: The liquidation value or
amount that unsecured creditors would receive in a hypothetical
chapter 7 case is approximately $1,596.92. Accordingly, Debtor
proposes to pay unsecured creditors a pro rata portion of
$17,961.00, its projected Disposable Income. If the Debtor remains
in possession, plan payments shall include the Subchapter V
Trustee's administrative fee which will be billed hourly at the
Subchapter V Trustee's then current allowable blended rate. Plan
Payments shall commence on the fifteenth day of the month, on the
first month that is ninety days after the Effective Date and shall
continue annually for two additional year. The first annual
payments shall be $2,667.00. Holders of Class 1 claims shall be
paid directly by the Debtor.

Class 2 consists of any and all equity interests and warrants
currently issued or authorized in the Debtor. This Class is
Unimpaired. Holders of a Class 2 interests shall retain their full
equity interest in the same amounts, percentages, manner and
structure as existed on the Petition Date.

The Plan contemplates that the Reorganized Debtor will continue to
operate the Debtor's business.

Except as explicitly set forth in this Plan, all cash in excess of
operating expenses generated from operation until the Effective
Date will be used for Plan Payments or Plan implementation, cash on
hand as of Confirmation shall be available for Administrative
Expenses.

A full-text copy of the First Amended Plan dated December 4, 2023
is available at https://urlcurt.com/u?l=vWVlIh from
PacerMonitor.com at no charge.

Counsel for Debtor:

     Jeffrey S. Ainsworth, Esq.
     Jacob D. Flentke, Esq.
     BransonLaw, PLLC
     1501 East Concord Street
     Orlando, Florida 32803
     Telephone: (407) 894-6834
     Facsimile: (407) 894-8559
     E-mail: jeff@bransonlaw.com
     E-mail: jacob@bransonlaw.com

                     About Ms Bee's Popcorn

Ms Bee's Popcorn & Candy Shoppe, LLC, is a full-service family
owned business providing specialty popcorn and candies,
headquartered in Lake County, Florida.

The Debtor filed a petition under Chapter 11, Subchapter V of the
Bankruptcy Code (Bankr. M.D. Fla. Case No. 23-03750) on Sept. 11,
2023, with as much as $50,000 in assets and $100,001 to $500,000 in
liabilities.

Judge Lori V. Vaughan oversees the case.

Jeffrey S. Ainsworth, Esq., at BransonLaw, PLLC, is the Debtor's
bankruptcy counsel.


NC GAS HOUSE: Hires Drescher & Associates as Bankruptcy Counsel
---------------------------------------------------------------
NC Gas House Gang LLC seeks approval from the U.S. Bankruptcy Court
for the District of Maryland to employ Drescher & Associates, P.A.
as its counsel.

The firm will render these services:

     a. consult with and advice to debtor as to its powers and
duties as debtor in possession in the operation of its business and
the management of their property;

     b. respond, as necessary, under the circumstances of this
case, to any effort of creditors to appoint a trustee in lieu of
the debtor in possession or to rescind the automatic stay of Sec.
362 of the Bankruptcy Code as to their property;

     c. assist the debtor in the preparation of those documents
required by the Bankruptcy Code, including the Statement of
Financial Affairs, the Schedules, the Statement of Exemptions and
the Statement of Executory Contracts;

     d. represent the debtor in the formulation and negotiation of
a plan of reorganization, including the drafting and filing of the
plan of reorganization and any amended or modified plans of
reorganization as may be required, and including attendance at and
management of the confirmation hearing;

     e. attend the meeting of creditors, any adjourned meeting of
creditors, and such other bankruptcy court hearings as are
required;

     f. assist the debtor in the preparation of a disclosure
statement adequate to the circumstances of this case; and

     g. draft and file such applications, orders, reports,
complaints, and other bankruptcy court papers as are required of
the debtor, or the debtor in possession, in the conduct of this
case.

Ronald Drescher, Esq., an attorney at Drescher & Associates, will
be billed at an hourly rate of $400.

The retainer fee is $25,000.

Mr. Drescher 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:

     Ronald J. Drescher, Esq.
     Drescher & Associates, PA
     10999 Red Run Blvd., Suite 205
     PMB 224
     Owings Mills, MD 21117
     Telephone: (410) 484-9000
     Facsimile: (410) 484-8120
     Email: rondrescher@drescherlaw.com

        About NC Gas House Gang LLC

NC Gas House Gang LLC filed its voluntary petition for relief under
Chapter 11 of the Bankruptcy Code (Bankr. D. Md. Case No. 23-18766)
on Dec 1, 2023. The petition was signed by Brandon Bellamy as
manager. At the time of filing, the Debtor estimated $1 million to
$10 million in both assets and liabilities.

Judge Lori S. Simpson presides over the case.

Ronald Drescher, Esq. at DRESHCHER & ASSOCIATES, PA represents the
Debtor as counsel.


NEBRASKA HUMIC: James Overcash Named Subchapter V Trustee
---------------------------------------------------------
The Acting U.S. Trustee for Region 13 appointed James Overcash,
Esq., as Subchapter V trustee for Nebraska Humic Company, LLC.

Mr. Overcash, a partner at Woods Aitken, LLP, will be paid an
hourly fee of $350 for his services as Subchapter V trustee and
will be reimbursed for work-related expenses incurred.

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

The Subchapter V trustee can be reached at:

     James A. Overcash, Esq.
     Woods Aitken, LLP
     301 South 13th Street, Suite 500
     Lincoln, NE 68508
     Phone: 402-437-8519
     Email: jovercash@woodsaitken.com

                       About Nebraska Humic

Nebraska Humic Company, LLC, a company in McCook, Neb., filed a
petition under Chapter 11, Subchapter V of the Bankruptcy Code
(Bankr. D. Neb. Case No. 23-41122) on Nov. 28, 2023, with
$1,293,603 in assets and $883,927 in liabilities. Tracey J. Sis,
authorized representative, signed the petition.

John A. Lentz, Esq., at Lentz Law, PC, LLO represents the Debtor as
bankruptcy counsel.


NOGIN INC: Brown Rudnick & Lewis Brisbois Advise Ad Hoc Group
-------------------------------------------------------------
The law firms Brown Rudnick LLP and Lewis Brisbois Bisgaard & Smith
LLP filed a verified statement pursuant to Rule 2019 of the Federal
Rules of Bankruptcy Procedure to disclose that in the Chapter 11
cases of Nogin, Inc., et al., the firms represent an ad hoc group
of holders of certain 7.00% convertible senior notes due 2026 (the
"Ad Hoc Group").

Each member of the Ad Hoc Group beneficially holds (or is the
investment advisor or manager of one or more funds affiliated with
or managed by members of the Ad Hoc Group which hold) one or more
of the Debtors' 7.00% Convertible Senior Notes due 2026 (the
"Notes").

The Ad Hoc Group Members' address and the nature and amount of
disclosable economic interests held in relation to the Debtors are:


  1. Funds and/or accounts, or subsidiaries of such funds and/or
accounts, managed, advised or controlled by Aequim Alternative
Investments LP or a subsidiary thereof
    2 Belvedere Place Suite 250
    Mill Valley, CA 94941
    Equity: 191,760 shares
    Warrants: 191,760
    * $4,000,000.00

  2. Funds and/or accounts, or subsidiaries of such funds and/or
accounts, managed, advised or controlled by Ayrton Capital LLC or a
subsidiary thereof
    55 Post Rd W, 2nd Floor
    Westport, CT 06880
    * $2,500,000.00

  3. Funds and/or accounts, or subsidiaries of such funds and/or
accounts, managed, advised or controlled by CVI Investments, Inc.
c/o Heights Capital Management Inc. or a subsidiary thereof
    401 City Line Avenue Suite 220
    Bala Cynwyd, PA 19004
    Warrants: 145,954
    * $5,000,000.00

  4. Funds and/or accounts, or subsidiaries of such funds and/or
accounts, managed, advised or controlled by Hudson Bay Capital or a
subsidiary thereof
    777 3rd Avenue
    35th Floor
    New York, NY 10017
    Warrants: 291,898
    * $10,500,000.00

  5. Funds and/or accounts, or subsidiaries of such funds and/or
accounts, managed, advised or controlled by III Capital Management
or a subsidiary thereof
    777 Yamato Road Suite 300
    Boca Raton, FL 33431
    Equity: 112,263 shares
    Warrants: 92,765
    * $3,378,000.00

  6. Funds and/or accounts, or subsidiaries of such funds and/or
accounts, managed, advised or controlled by LMR Partners LLC or a
subsidiary thereof
    412 West 15th Street, New York, NY 10011
    Warrants: 291,899
    Equity: 236,574 shares
    * $10,000,000.00

  7. Funds and/or accounts, or subsidiaries of such funds and/or
accounts, managed, advised or controlled by Tenor Capital
Management Company, L.P. or a subsidiary thereof
    810 Seventh Ave 19th Floor
    New York, NY 10019
    Equity: 356, 970 shares
    Warrants: 725,703
    * $24,500,000.00

Counsel to the Ad Hoc Group:

     LEWIS BRISBOIS BISGAARD & SMITH LLP
     Scott D. Cousin, Esq.
     500 Delaware Avenue, Suite 700
     Wilmington, DE 19801
     Telephone: (302) 295-9440
     Facsimile: (302) 985-6001
     Email: scott.cousins@lewisbrisbois.com
   
     -and-

     BROWN RUDNICK LLP
     Robert J. Stark, Esq.
     Bennett S. Silverberg, Esq.
     Alexander F. Kasnetz, Esq.
     Seven Times Square
     New York, NY 10036
     Telephone: (212) 209-4800
     Email: rstark@brownrudnick.com
     Email: bsilverberg@brownrudnick.com
     Email: akasnetz@brownrudnick.com

     Steven B. Levine, Esq.
     Sharon I. Dwoskin, Esq.
     One Financial Center
     Boston, MA 02111
     Telephone: (617) 856-8200
     Email: slevine@brownrudnick.com
     Email: msawyer@brownrudnick.com

                        About Nogin Inc.

Nogin, Inc., provides enterprise-class ecommerce technology and
services for consumer products through its Intelligent Commerce
technology, a cloud-based ecommerce environment purpose-built for
brands selling direct-to-consumer (D2C) and business-to-business
(B2B).

The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr.  D. Del. Case No. 23-11945) on December 5,
2023, with $47,263,000 in assets and $142,815,000 in liabilities.
Vladimir Kasparov, chief restructuring officer, signed the
petitions.

The Debtor tapped Daniel J. DeFransceschi, Esq. of RICHARDS, LAYTON
& FINGER, P.A. as legal counsel; and Donlin, Recano & Company, Inc.
as claims & noticing agent.


NOGIN INC: Gets Court Clearance to Tap $19.2 Million DIP Funds
--------------------------------------------------------------
Clara Geoghegan of Law360 reports that e-commerce technology
provider Nogin Inc. will be able to tap into $19.23 million of
debtor-in-possession funds, after a Delaware bankruptcy judge on
Thursday, December 7, 2023, gave initial approval to its Chapter 11
DIP package.

                        About Nogin Inc.

Nogin (Nasdaq: NOGN, NOGNW), the Intelligent Commerce company,
provides the world's leading enterprise-class ecommerce technology
and services for brand leaders that need to deliver superior growth
with predictable costs and an exceptional online experience.  The
Nogin Intelligent Commerce technology is a cloud-based ecommerce
environment purpose-built for brands selling direct-to-consumer
(D2C) and business-to-business (B2B). Nogin frees its customers to
focus on their business while running as much or as little of the
digital commerce infrastructure as they choose.  Founded in 2010,
Nogin optimizes the entire ecommerce lifecycle for a variety of
brands, such as Justice, bebe, Brookstone, Hurley, and Kenneth
Cole, as well as several B2B brands and marketplaces.  On the Web:
http://www.nogin.com/

Nogin, Inc., and affiliates Nogin Commerce, Inc., and Native Brands
Group LLC (D. Del. Lead Case No. Case No. 23-11945) on Dec. 5,
2023.

Nogin disclosed total assets of $47,263,000 and total debt of
$142,815,000 as of Sept. 30, 2023.

The Debtors tapped RICHARDS, LAYTON & FINGER, P.A., as counsel;
TRIPLE PARTS, LLC, as CRO provider; and LIVINGSTONE PARTNERS LLC as
investment banker.  DONLIN, RECANO & COMPANY, INC., is the claims
agent.


ONEMAIN FINANCE: S&P Rates New $400MM Senior Unsecured Notes 'BB'
-----------------------------------------------------------------
S&P Global Ratings assigned its 'BB' rating to OneMain Finance
Corp.'s proposed $400 million senior unsecured notes due 2030.
OneMain Finance Corp. (OMFC) is a direct, wholly owned subsidiary
of OneMain Holdings Inc. The notes will be guaranteed on an
unsecured basis by the parent. The company intends to use the net
proceeds from this issuance and an additional $400 million raised
in November 2023 to redeem $558 million of 6.125% notes due March
2024 and for general corporate purposes, which may include debt
repurchases and repayments.

For the quarter ended Sept. 30, 2023, OneMain's ratio of
unencumbered assets to unsecured debt was about 1.06x. Pro forma
for the two unsecured debt transactions, S&P's expect the ratio to
be around 1.03x. If the company's unsecured debt becomes greater
than its unencumbered assets, S&P would lower the issue rating by
one notch to 'BB-'.

Pro forma for this issuance and the November 2023 $400 million
add-on unsecured deal for notes due 2029, S&P expects leverage will
be 6.0x-6.3x, compared with 5.5x-6.0x at end-September 2023. Growth
in equity could offset the increase during the fourth quarter. That
said, the cushion around the 6.5x downside threshold has
diminished.

In November 2023, OneMain reached a definitive agreement to acquire
Foursight Capital LLC from Jefferies for $115 million in cash. The
transaction is expected to close in the first quarter of 2024 and
upon closing will add about $900 million in auto finance
receivables.

For the nine months ended Sept. 30, 2023, the company's personal
loans net charge-off ratio increased to 7.3%, from 5.8% a year
prior. In addition, the ratio of loans 30 days or more delinquent
was 5.5%, compared with 5.8% at year-end 2022. The ratio of
30-plus-day-delinquent loans for credit cards was close to 9.0%,
compared with 13.0% at year-end 2022.

For 2023, OneMain expects net charge-offs to be 7.0%-7.5%, albeit
at the higher end of this range. S&P thinks rising net charge-offs
could be a risk, and we will continue to monitor for any earnings
erosion from credit deterioration.

The stable outlook on OneMain Holdings Inc. indicates S&P Global
Ratings' expectation that over the next 12 months--despite
challenging macroeconomic conditions--the company will keep its
competitive position in nonprime consumer lending and operate with
leverage of 4.5x-6.0x on a sustained basis. S&P expects the company
to maintain adequate liquidity and retain its funding mix.

S&P said, "We could lower our ratings over the next 12 months if
debt to adjusted total equity rises above 6.5x or if net
charge-offs substantially rise and erode earnings. We could also
lower the ratings if regulatory actions impede the company's
business, if the company takes on large debt-funded initiatives, or
if competition increases in the nonprime consumer lending industry
such that risk-adjusted yields decline and weaken earnings.

"An upgrade is unlikely over the next 12 months. Over time, we
could raise the ratings if leverage remains below 4.5x, the net
charge-off ratio remains around 6%, and the firm keeps its
well-diversified funding mix and better-than-peer liquidity."



OPYS HOLDINGS: Unsecureds Will Get 4.44% of Claims in Plan
----------------------------------------------------------
OPYS Holdings Inc. and its affiliates filed with the U.S.
Bankruptcy Court for the Southern District of Indiana a Joint Small
Business Plan of Reorganization dated December 4, 2023.

The Debtors provide physician and staffing services to hospitals,
medical centers, and pharmacies throughout the United States.
Holdings, as its name suggests, owns and operates the other
Debtors.

The Debtors' financial difficulties increased with the bankruptcy
of Fayette Memorial Hospital Association, Inc. in Connersville,
Indiana in August of 2018, which left Holdings and its subsidiaries
with an unpaid claim of $1.7 million. Holdings began obtaining
short-term loans, first in the amount of $50,000, to fund
operations while Holdings and its subsidiaries pursued payment.

The combination of the significant debt burden from nonpayment and
losses from poorly performing contracts culminated in Debtors'
chapter 11 bankruptcy filing on September 5, 2023.

The Debtors' financial projections show that for the 3.5-year
period, the Debtors anticipate an average yearly gross income of
approximately $6.5 million, with average yearly operating expenses
of approximately $6.3 million. Accordingly, on average, the yearly
projected disposable income is approximately $247,000.

The Plan proposes to pay creditors of the Debtors from cash flow
from operations.

The Plan provides that creditors holding allowed unsecured claims
will receive distributions over time, which the Debtors have
projected at approximately 4.44% of total allowed unsecured claims.


Class 3 consists of Unsecured Claims. The bulk of the claims in
Debtors' bankruptcy cases are general unsecured claims which
consist of claims by creditors against any Debtor that is not
secured by property of the Debtors with a value in excess of the
SBA's allowed secured claim and are not entitled to priority
treatment under section 507(a) of the Bankruptcy Code. The Debtors
estimate that the aggregate unsecured claims are $6,891,250.11.

Creditors holding allowed Class 3 claims shall receive their pro
rata share of quarterly payments consistent with the projected net
disposable income after payment of administrative expenses, the
Class 1 claim held by the SBA, and the Class 2 allowed priority
claims, with such quarterly payments commencing with the quarter
ending June 30, 2026 and continuing for 5 additional quarters (six
quarterly payments in total). To the extent the total quarterly
distributions to a creditor holding an allowed Class 3 claim is
less than $200.00, the Debtors, in their sole discretion, may elect
to pay a single lump sum payment of the total quarterly
distributions to such creditor, with such lump sum payment to be
paid at any time between June 30, 2026 and July 31, 2027.

Holdings is the owner of the other Debtors. Dr. Creese owns
Holdings. These equity interest holders shall continue to retain
their ownership interests. Equity interests are not impaired.

The source of funds used in the Plan for payment to creditors shall
be the projected disposable income for the applicable fiscal
quarter resulting from continued, normal business operations of the
Debtors' business. The Debtors shall contribute all net disposable
income toward Plan payments over a 3.5-year period.

A full-text copy of the Joint Plan dated December 4, 2023 is
available at https://urlcurt.com/u?l=iOrWVt from PacerMonitor.com
at no charge.

Counsel for the Debtors:

     Matthew T. Barr, Esq.
     Morgan A. Decker, Esq.
     James E. Rossow, Esq.
     RUBIN & LEVIN, P.C.
     135 N. Pennsylvania Street, Suite 1400
     Indianapolis, IN 46204
     Telephone: (317) 860-2891
     Facsimile: (317) 453-8629
     Email: mbarr@rubin-levin.net
            mdecker@rubin-levin.net
            jim@rubin-levin.net

                      About OPYS Holdings

OPYS Holdings, Inc., is a hospital physician management group
providing physician outsourcing services for ER, hospitalists and
telemedicine.

OPYS Holdings and its affiliates filed petitions under Chapter 11,
Subchapter V of the Bankruptcy Code (Bankr. S.D. Ind. Lead Case No.
23-03909) on Sept. 5, 2023, with $19,701 in assets and $18,500,568
in liabilities. Andre T. Creese, M.D., president and chief
executive officer, signed the petitions.

Judge Robyn L. Moberly oversees the case.

Meredith R. Theisen, Esq., at Rubin & Levin, P.C., is the Debtor's
legal counsel.        


ORIGINCLEAR INC: Incurs $8.3 Million Net Loss in Third Quarter
--------------------------------------------------------------
OriginClear, Inc. filed with the Securities and Exchange Commission
its Quarterly Report on Form 10-Q reporting a net loss of $8.29
million on $1.36 million of sales for the three months ended Sept.
30, 2023, compared to a net loss of $29.05 million on $3.37 million
of sales for the three months ended Sept. 30, 2022.

For the nine months ended Sept. 30, 2023, the Company reported a
net loss of $18.18 million on $5.20 million of sales, compared to a
net loss of $33.89 million on $7.77 million of sales for the same
period in 2022.

As of Sept. 30, 2023, the Company had $4.27 million in total
assets, $35.78 million in total liabilities, $7.74 million in
commitments and contingencies, and a total shareholders' deficit of
$39.26 million.

OriginClear stated, "The accompanying financial statements have
been prepared on a going concern basis of accounting, which
contemplates continuity of operations, realization of assets and
liabilities and commitments in the normal course of business.  The
accompanying financial statements do not reflect any adjustments
that might result if the Company is unable to continue as a going
concern. These factors, among others raise substantial doubt about
the Company's ability to continue as a going concern.  Our
independent auditors, in their report on our audited financial
statements for the year ended December 31, 2022 expressed
substantial doubt about our ability to continue as a going
concern.

"The ability of the Company to continue as a going concern and
appropriateness of using the going concern basis is dependent upon,
among other things, achieving a level of profitable operations and
receiving additional cash infusions.  During the nine months ended
September 30, 2023, the Company obtained funds from the issuance of
convertible note agreements and from sale of its preferred stock.
Management believes this funding will continue from its current
investors and from new investors.  During this period, the Company
also generated revenue of $5,200,918 and has standing purchase
orders and open invoices with customers, which will provide funds
for operations.  Management believes the existing shareholders, the
prospective new investors and future sales will provide the
additional cash needed to meet the Company's obligations as they
become due and will allow the development of its core business
operations.  No assurance can be given that any future financing
will be available or, if available, that it will be on terms that
are satisfactory to the Company.  Even if the Company is able to
obtain additional financing, it may contain restrictions on our
operations, in the case of debt financing or cause substantial
dilution for our stockholders, in case of equity financing."

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

https://www.sec.gov/ix?doc=/Archives/edgar/data/1419793/000121390023094460/f10q0923_originclear.htm

                       About OriginClear

Headquartered in Clearwater, Florida, Originclear, Inc. --
www.originclear.tech -- is a water technology company which has
developed in-depth capabilities over its 14-year lifespan.  Those
technology capabilities have now been organized under the umbrella
of OriginClear Tech Group.  OriginClear, under the brand of
OriginClear Tech Group, designs, engineers, manufactures, and
distributes water treatment solutions for commercial, industrial,
and municipal end markets.

OriginClear reported a net loss of $10.79 million for the year
ended Dec. 31, 2022, compared to a net loss of $2.12 million for
the year ended Dec. 31, 2021. As of March 31, 2023, the Company had
$5.48 million in total assets, $22.45 million in total liabilities,
$9.98 million in commitments and contingencies, and a total
stockholders' deficit of $26.96 million.

Houston, TX-based M&K CPAS, PLLC, the Company's auditor since 2019,
issued a "going concern" qualification in its report dated April
17, 2023, citing that the Company suffered a net loss from
operations and used cash in operations, which raises substantial
doubt about its ability to continue as a going concern.


OVAL SQUARED: Drew McManigle Named Subchapter V Trustee
-------------------------------------------------------
The U.S. Trustee for Region 7 appointed Drew McManigle as
Subchapter V trustee for The Oval Squared Inc.

Mr. McManigle will be paid an hourly fee of $425 for his services
as Subchapter V trustee and will be reimbursed for work-related
expenses incurred.  

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

The Subchapter V trustee can be reached at:

     Drew McManigle
     700 Milam, Suite 1300
     Houston, TX 77002
     Telephone: (410) 350-1839
     Email: drew@macco.group

                      About The Oval Squared

The Oval Squared Inc. is a Houston-based company, which owns and
operates a car wash business.

The Debtor filed a petition under Chapter 11, Subchapter V of the
Bankruptcy Code (Bankr. S.D. Texas Case No. 23-34620) on Nov. 28,
2023, with $1,624,704 in assets and $5,086,467 in debts. Tristan
Williams, director, signed the petition.

Judge Eduardo V. Rodriguez oversees the case.

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


PACIFIC RIDGE: Voluntary Chapter 11 Case Summary
------------------------------------------------
Debtor: Pacific Ridge CMS, LLC
        1200 Pacific Avenue, Suite 1200
        Tacoma, WA 98402-4395

Business Description: The Debtor is a land developer, builder of
                      apartments, and luxury single-family homes.

Chapter 11 Petition Date: December 11, 2023

Court: United States Bankruptcy Court
       Western District of Washington

Case No.: 23-42189

Judge: Hon. Brian D. Lynch

Debtor's Counsel: Aditi Paranjpye, Esq.
                  CAIRNCROSS & HEMPELMANN, P.S.
                  524 Second Avenue
                  Suite 500
                  Seattle, WA 98104
                  Tel: 206-587-0700
                  Email: aparanjpye@cairncross.com

Estimated Assets: $10 million to $50 million

Estimated Liabilities: $10 million to $50 million

The petition was signed by Shelly Crocker as chief restructuring
officer.

A copy of the Debtor's list of 30 largest unsecured creditors is
now available for free at PacerMonitor.com.

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

https://www.pacermonitor.com/view/VKOD5VY/Pacific_Ridge_CMS_LLC__wawbke-23-42189__0001.0.pdf?mcid=tGE4TAMA


PALACE AT WASHINGTON: Hires Meyer Law Group as Bankruptcy Counsel
-----------------------------------------------------------------
The Palace at Washington Square, LLC seeks approval from the U.S.
Bankruptcy Court for the Northern District of California to employ
Meyer Law Group LLP as bankruptcy counsel.

The Debtor requires legal counsel to assist with the formulation of
a Chapter 11 plan; prepare schedules and statement of financial
affairs; review monthly operating reports; respond to creditor
inquiries; evaluate claims; and provide other necessary legal
services.

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

     Partner (Brent D. Meyer) $400
     Paralegals               $125

Brent Meyer, Esq., a partner at Meyer Law Group, disclosed in a
court filing that his firm is a "disinterested person" as that term
is defined in Section 101(14) of the Bankruptcy Code.

The firm can be reached through:
   
     Brent D. Meyer, Esq.
     Meyer Law Group, LLP
     268 Bush Street #3639
     San Francisco, CA 94104
     Tel: (415) 765-1588
     Fax: (415) 762-5277
     Email: brent@meyerllp.com

           About The Palace at Washington Square, LLC

The Palace at Washington Square, LLC is a San Francisco-based
company engaged in activities related to real estate.

The Debtor filed Chapter 11 petition (Bankr. N.D. Cal. Case No.
23-30519) on July 31, 2023, with $1,958,560 in assets and
$1,717,638 in liabilities. Edward Schmitt Jr., vice president,
signed the petition.

Reno Fernandez, Esq., at the Law Offices of Reno Fernandez, is the
Debtor's legal counsel.


PAX THERAPY: Seeks to Hire Hahn Fife & Company as Accountant
------------------------------------------------------------
Pax Therapy and Family Services, Inc. seeks approval from the U.S.
Bankruptcy Court for the Central District of California to employ
Hahn Fife & Company, LLP as its financial advisor and accountant.

The firm will provide financial advisory and accounting services to
the bankruptcy estate, which include the review of financial
documents and the preparation of tax returns.

The firm's hourly rates are as follows:

    Partner     $490 per hour
    Staffs      $80 per hour

The firm holds a retainer in the amount of $2,500.

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

Donald Fife, a partner at Hahn Fife & Company, disclosed in a court
filing that his firm is a "disinterested person" as the term is
defined in Section 101(14) of the Bankruptcy Code.

The firm can be reached at:

     Donald T. Fife
     Hahn Fife & Company, LLP
     790 E. Colorado Blvd. 9th Floor
     Pasadena, CA 91101
     Tel: (626) 796-9123
     Email: dhahn@hahnfife.com

         About Pax Therapy and Family Services

Pax Therapy and Family Services, Inc. provides mental health
therapy services through its licensed professionals from its
offices located in Whittier, Calif.

The Debtor filed Chapter 11 petition (Bankr. C.D. Calif. Case No.
23-17284) on Nov. 2, 2023, with up to $100,000 in assets and up to
$1 million in liabilities. Kristin Martinez, president, signed the
petition.

Judge Deborah J. Saltzman oversees the case.

David B. Zolkin, Esq., at Weintraub Zolin Talerico & Selth LLP,
represents the Debtor as legal counsel.


PENNSYLVANIA REAL ESTATE: Redwood, Nut Tree Extend $135MM DIP Loan
------------------------------------------------------------------
Pennsylvania Real Estate Trust is taking steps to execute a
comprehensive reorganization to strengthen its balance sheet,
reduce its total indebtedness by approximately $880 million, and
extend its maturity runway. In order to effectuate the
restructuring to make way for a recapitalized PREIT, the Company
has filed a voluntary Chapter 11 petition in the United States
Bankruptcy Court for the District of Delaware to implement a
Prepackaged Plan. The filing will ensure PREIT can continue all
business operations without interruption while it obtains necessary
approvals of its financial restructuring. In advance of the filing,
the Company executed a Restructuring Support Agreement with 100% of
its First and Second Lien Lenders. In accordance with the RSA,
PREIT expects it will be able to emerge from Bankruptcy by early
February 2024.

The reorganization plan is supported by 100% of PREIT's First and
Second Lien Lenders. To facilitate this process, the Company has
received commitments for new money debtor-in-possession and exit
revolver financing in an aggregate amount of approximately $135
million from a diverse group of leading investors, led by Redwood
Capital Management, LLC and Nut Tree Capital Management, LP. This
funding commitment, together with the unanimous support from the
Company's existing lender group for the Prepackaged Plan, is a
testament to the lenders' confidence in the Company's forward path
and represents a crucial source of capital to support the Company's
financial stability and long-term growth.

The Company's primary focus remains creating compelling retail and
experiential destinations while prioritizing service to its
employees, partners, customers and communities. PREIT has a rich
history. Effectuating this Prepackaged Plan will allow PREIT to
continue its legacy of being an integral part of its communities as
a significant employer that is committed to the transformation of
its properties.

"We are pleased to be moving forward with strengthening the
Company's balance sheet and positioning it for long-term success
through this Prepackaged Plan. Following the pandemic disruption,
PREIT has worked tirelessly to enhance the portfolio, dramatically
improve occupancy and diversify its tenancy. However, unusual
economic conditions have limited the Company's options with respect
to its debt obligations as meaningful achievements on the operating
front were met with inflation and rising interest rates," said
Joseph F. Coradino, Chairman and CEO of PREIT. "This announcement
will position a restructured PREIT to execute on strategic
initiatives to continue transforming its portfolio for the tenants
and communities it serves. We look forward to quickly emerging from
this process as a financially stronger company with the resources
and support to continue creating diverse, multi-use property
experiences throughout our portfolio."

PREIT will pay all vendors, suppliers and employees during the
course of the Chapter 11 proceedings and, pursuant to the terms of
the Prepackaged Plan, which will be subject to court approval, the
prepetition claims of all vendors, suppliers and employees will be
unimpaired.

Under the terms of the Prepackaged Plan, a reorganized PREIT would
emerge following the court-supervised process with a restructured
balance sheet.

     -- First Lien Lenders have the option to receive either a cash
payment equal to 100% of their claims, or instead convert their
claims into term loans under the Exit Facility in an amount equal
to 101% of their claims.

     -- Second Lien Lenders will get their pro rata share of 65% of
the new equity interests in reorganized PREIT and, Second Lien
Lenders who commit to backstop the Exit Facility will receive 35%
of the new equity interests in reorganized PREIT, in each case
subject to subject to dilution by a customary management incentive
plan.

     -- The restructuring will be supported financially through a
new money DIP Facility, totaling up to $60 million, which will
convert into term loans under the Exit Facility in an amount equal
to 101% of the DIP facility loans.

     -- In addition, PREIT lenders have committed to provide
revolving loans and term loans under an Exit Facility, consisting
of a $75 million new money revolver, if the Company is expected to
have less than $75 million in unrestricted cash upon emergence from
the Chapter 11 proceedings, and exit term loans in an amount
sufficient to refinance in cash or in kind the DIP facility and the
First Lien Loans.

     -- Existing Preferred and Common Shares of PREIT will be
canceled and PREIT will no longer be a publicly traded company. An
aggregate $10 million payment, net of costs defined in the
Prepackaged Plan and subject to certain conditions, will be
provided to holders of the existing Preferred and Common Stock. The
payment, if made, will be allocated as follows: 70% for Preferred
shareholders and 30% for Common shareholders.

On behalf of the Board of Trustees, Michael DeMarco, Lead
Independent Trustee, commented: "In November 2021, the Company
engaged PJT Partners to engage in a process to explore all
strategic options to maximize shareholder value. PJT robustly
marketed the Company's properties, sought capital infusion and
otherwise explored any available options. That process did not
result in any options that would allow the Company to refinance or
otherwise achieve value that would exceed the aggregate amount of
its First and Second Lien Loans. After months of evaluation and
review with our financial advisors, the Board has unanimously
approved a transaction that we believe to be the alternative that
maximizes the value of PREIT for all of our stakeholders. While
PREIT continues to operate in a challenging market, we are pleased
to arrive at an agreement with our key creditors that also provides
a $10 million payment to Preferred and Common shareholders, if
certain conditions are met, who otherwise would receive nothing.
Based on the advice from its financial advisors, including that the
value of the Company does not exceed the aggregate amount of the
existing First Lien and Second Lien Loans, the Board has concluded
that the consideration provided to Preferred and Common
shareholders is in effect a gift resulting from voluntary agreement
with the existing First and Second Lien Lenders to avoid the
expense of protracted Chapter 11 proceedings and shall only be
available in the event that the Equity Distribution Conditions are
satisfied."

PREIT has filed a number of customary first-day motions with the
court to support its operations during the court-supervised
process, including the continued payment of employee wages and
benefits without interruption. The Company expects to receive court
approval for these requests.

The Debtors continue to operate their businesses and manage their
properties as "debtors-in-possession" under the jurisdiction of the
Bankruptcy Court and in accordance with the applicable provisions
of the Bankruptcy Code and orders of the Bankruptcy Court. To
ensure the Debtors' ability to continue operating in the ordinary
course of business and minimize the effect of the Chapter 11 Cases
on the Debtors' customers, vendors, tenants and employees, the
Debtors filed with the Bankruptcy Court motions seeking a variety
of "first-day" relief, including authority to pay employee wages
and benefits and to pay vendors and business partners for goods and
services provided both before and after the filing date so that
those who continue to work with the Debtors on existing terms will
be paid in full and in the ordinary course of business.

                        About PREIT

PREIT (OTCQB:PRET) -- http://www.preit.com/-- is a real estate
investment trust that owns and manages innovative properties
developed to be thoughtful, community-centric hubs. PREIT's robust
portfolio of carefully curated, ever-evolving properties generates
success for its tenants and meaningful impact for the communities
it serves by keenly focusing on five core areas of established and
emerging opportunity: multifamily & hotel, health & tech, retail,
essentials & grocery and experiential. Located primarily in densely
populated regions, PREIT is a top operator of high quality,
purposeful places that serve as one-stop destinations for customers
to shop, dine, play and stay.

On December 10, 2023, the Debtors voluntarily filed the Chapter 11
Cases in the United States Bankruptcy Court. The Debtors filed a
motion with the Bankruptcy Court seeking to jointly administer the
Chapter 11 Cases under the caption "In re: Pennsylvania Real Estate
Investment Trust, et al."

The Hon. Karen B. Owens oversees the Case.

As of Sept. 30, 2023, PREIT has $1.72 billion in total assets and
total debts of $1.99 billion.

DLA Piper LLP (US), Wachtell, Lipton, Rosen & Katz and Dilworth
Paxson LLP are serving as legal counsel and PJT Partners LP is
serving as financial advisor to PREIT.

Paul Hastings LLP and Young Conaway Stargatt & Taylor, LLP are
serving as legal counsel and Houlihan Lokey is serving as financial
advisor to the ad hoc group of PREIT's first lien and second lien
secured lenders.



PENNYROYAL LOGISTICS: Unsecureds to Get $960 per Month for 5 Years
------------------------------------------------------------------
Pennyroyal Logistics, Inc., filed with the U.S. Bankruptcy Court
for the Northern District of Georgia an Amended Plan of
Reorganization dated December 4, 2023.

Debtor is a family business that has operated since 2020. Debtor
operates FedEx shipping routes and employs Troy Wood and Gina
Hobbs-Wood, married individuals, as the managers of the Debtor.

Debtor is an affiliate of two other debtors, Hobbs Wood Logistics,
Inc. and Appalachian Valley Transport, Inc. that operate
substantially similar businesses. All of Debtor's income is paid
directly from Federal Express. Debtor filed in the instant case to
obtain the appropriate breathing room afforded by the automatic
stay to allow for repair of certain vehicles and to work out a deal
with its principal creditor, Merchants Fleet.

This Plan deals with all property of Debtor and provides for
treatment of all Claims against Debtor and its property.

Class 6 consists of General Unsecured Claims. If the Plan is
confirmed under Section 1191(a) of the Bankruptcy Code, Debtor
shall pay the General Unsecured Creditors $959.72/month for five
years. Class 6 creditors shall not receive interest on their
claims. Class 6 shall receive quarterly payments beginning on the
10th of the month following the Effective Date and continuing
thereafter until 5 years after the Effective Date, for a total of
20 quarterly payments. Class 6 Unsecured Creditors include
Allegiant ($19,976.05); Allegiant ($15,563.19); and FPL
($22,313.90).

If the Plan is confirmed under Section 1191(b) of the Bankruptcy
Code, Class 6 shall be treated the same as if the Plan was
confirmed under Section 1191(a) of the Bankruptcy Code. The Claims
of the Class 6 Creditors are Impaired by the Plan, and the holders
of Class 6 Claims are entitled to vote to accept or reject the
Plan.

Class 7 consists of the Equity Holder of the Debtor. Each equity
security holder will retain his Interest in the reorganized Debtor
as such Interest existed as of the Petition Date. This class is not
impaired and is not eligible to vote on the Plan.

The source of funds for the payments pursuant to the Plan is
Debtor's continued business operations.

A full-text copy of the Amended Plan of Reorganization dated
December 4, 2023 is available at https://urlcurt.com/u?l=52Vq6o
from PacerMonitor.com at no charge.

Debtor's Counsel:

                  Will Geer, Esq.
                  ROUNTREE, LEITMAN, KLEIN & GEER, LLC
                  2987 Clairmont Road Suite 350
                  Atlanta, GA 30329
                  Tel: 678-587-8740
                  Email: wgeer@rlkglaw.com

                   About Pennyroyal Logistics

Pennyroyal Logistics, Inc. is a delivery services provider.

The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. N.D. Ga. Case No. 22-11362) on December 7,
2023, with $100,000 to $500,000 in assets and $1 million to $10
million in liabilities. Troy Wood, president, signed the petition.

Will Geer, Esq. of ROUNTREE, LEITMAN, KLEIN & GEER, LLC represents
the Debtor as legal counsel.


PERSIMMON HOLLOW: U.S. Trustee Appoints Creditors' Committee
------------------------------------------------------------
The U.S. Trustee for Region 21 appointed an official committee to
represent unsecured creditors in the Chapter 11 case of Persimmon
Hollow Brewing Company, LLC.
  
The committee members are:

     1. James K. Berry
        1420 Raintree Lane
        Mount Dora, FL 32757
        Telephone: (352) 250-1874
        Email: jameskberryod@aol.com

     2. Kelly Joyce
        511 West New York Avenue
        Deland, FL 32720
        Telephone: (407) 733-5866
        Email: knjoyce83@yahoo.com

        Counsel:
        Raymond Rotella, Kosto & Rotella P.A
        P.O. Box 113
        Orlando, FL 32802
        Telephone: (407) 425-3456
        Email: rrotella@kostoandrotella.com

     3. Michael Shayeson
        2736 Blue Heron Village
        Deland, FL 32720
        Telephone: (513) 615-9705
        Email: mshayeson@gmail.com

        Counsel:
        Lauren Stricker, Shuker & Dorris, P.A.
        121 S Orange Ave, Suite 1120
        Orlando, FL 32801
        Telephone: (407) 337-2053
        Email: lstricker@shukerdorris.com
  
Official creditors' committees serve as fiduciaries to the general
population of creditors they represent.  They may investigate the
debtor's business and financial affairs. Committees have the right
to employ legal counsel, accountants and financial advisors at a
debtor's expense.

              About Persimmon Hollow Brewing Company

Persimmon Hollow Brewing Company, LLC owns and operates a brewery
and taproom in DeLand, Fla.

The Debtor filed Chapter 11 petition (Bankr. M.D. Fla. Case No.
23-04742) on Nov. 10, 2023, with up to $10 million in both assets
and liabilities. Robert Burnette, president and chief manager,
signed the petition.

Judge Grace E. Robson oversees the case.

Richard R. Thames, Esq., at Thames | Markey, represents the Debtor
as legal counsel.


PHUNWARE INC: Inks Acknowledgment and Agreement With Streeterville
------------------------------------------------------------------
Phunware, Inc. disclosed in a Form 8-K filed with the Securities
and Exchange Commission that effective Dec. 6, 2023, the Company
entered into an Acknowledgement and Agreement with Streeterville
Capital, LLC pursuant to which the parties:

   (a) memorialized Streeterville's (1) waiver of the Company's
obligations to satisfy minimum balance reduction requirements in
cash for each of October 2023 and November 2023 under the 2022
Promissory Note, and (2) agreement to waive such minimum balance
reduction requirements for December 2023 and agreement to consider
in good faith if and when requested by the Company waiving such
minimum balance reduction requirements for January 2024, February
2024 and March 2024, in each case with respect to any outstanding
portion of the minimum balance reduction requirements for each and
any Specified Month remaining after giving effect to any exercise
of limited conversion rights by Streeterville during such Specified
Month so as to allow Borrower to defer paying the amount of any
such minimum balance reduction requirements in cash for and during
each such Specified Month; and

   (b) Streeterville agreed to not exercise its Limited Conversion
Rights during the period from and including the date of the closing
of the purchase of the Company's common stock by one or more
purchasers pursuant to one or more securities purchase agreements
or similar agreements or instruments, which date of closing which
occurs on or before Dec. 31, 2023, through and including the date
which is 60 days following the Securities Purchase Closing Date.

As consideration for the Acknowledgement and Agreement, the Company
agreed to pay to Streeterville a fee in an aggregate amount equal
to 7.5% of the outstanding balance of the 2022 Promissory Note, of
which 2.5% will be paid as consideration to Streeterville for its
agreement to waive certain of the Company's minimum balance
reduction obligations as described above and 5.0% will be paid as
consideration to Streeterville for its agreement to waive its
Limited Conversion Rights for the period described above.  The
aggregate 7.5% fee, which the Company expects to be approximately
$345,000, will be added to the outstanding balance of the 2022
Promissory Note.

On July 6, 2022, the Company entered into a note purchase agreement
with Streeterville and issued an unsecured promissory note with an
original principal amount of $12,808,672 in a private placement.
The 2022 Promissory Note had an original issue discount of $491,872
and the Company paid at closing issuance costs totaling $521,872.
After deducting all transaction fees paid by the Company at
closing, net cash proceeds to the Company at closing were
$11,794,928.  No interest was to accrue on the 2022 Promissory
Note.  Beginning on Nov. 1, 2022, the Company's monthly
amortization payment was approximately $1,565,504, until the
original maturity date of July 1, 2023.  The Company had the right
to defer any monthly payment by one month up to twelve times so
long as certain conditions, as defined in the 2022 Promissory Note,
are satisfied. In the event the Company exercises the deferral
right for any given month: (i) the outstanding balance will
automatically increase by 1.85%; (ii) the Company will not be
obligated to make the monthly payment for such month; and (iii) the
maturity date will be extended for one month.  The Company may
prepay any or all outstanding balance of the 2022 Promissory Note
earlier than it is due by paying the noteholder 110% of the portion
of the outstanding balance the Company elects to prepay.  The
prepayment premium also applies to the monthly amortization
payments.

On March 15, 2023, the Company elected to defer monthly payment
obligations for April, May, June and July 2023, as permitted, at
the time, by the 2022 Promissory Note.  In connection therewith,
the Company entered into a waiver agreement with the noteholder
waiving the Payment Deferral Conditions, as defined in the 2022
Promissory Note.  For agreeing to waive the Payment Deferral
Conditions, the Company agreed to compensate the noteholder an
amount equal to 5% of the outstanding balance immediately before
entering into the waiver agreement.  As a result of the Company's
election to defer the four monthly payments, the outstanding
balance of the 2022 Promissory Note was increased by 1.85% on the
first day of each month beginning on April 1, 2023 and concluding
on July 1, 2023.  The waiver fee and the additional principal was
to be paid in connection with the Company's monthly installment
payments once the deferral period concluded.  Beginning on Aug. 1,
2023 and on the same day of each month thereafter, the Company was
required to pay to the noteholder the new monthly amortization
payment in the amount of approximately $1,768,837.

On Aug. 14, 2023, the Company entered into an Amendment to the 2022
Promissory Note with the noteholder.  The amendment extended the
maturity date to June 1, 2024 and provided that effective Aug. 1,
2023, the Company was required to make monthly amortization
payments of at least $800,000 commencing on Aug. 31, 2023 until the
2022 Promissory Note is paid-in-full.  The Amendment also removed
the required payment of $1,768,837 that was due on Aug. 1, 2023.
The Company also granted the noteholder certain limited conversion
rights, subject to advance payment and volume conditions.
Conversions into shares of the Company's common stock made pursuant
to the limited conversion rights will be calculated on a conversion
price equal to 90% of the lower of (i) the closing trading price of
the Company's common stock on the trading day immediately preceding
the date for such conversion or (ii) the average closing trading
price of the Company's common stock for the five trading days
immediately preceding the date for such conversion.  If the
noteholder elects to convert pursuant to the limited conversion
option, such conversions will reduce the current month's monthly
amortization payment.  Any conversions in any given month in excess
of the $800,000 monthly payment will be applied to reduce the
following month's required monthly amortization payment.  In
connection with the amendment, the Company agreed to pay an
extension fee equal to approximately $708,000, which was 10% of the
outstanding principal balance of the 2022 Promissory Note at the
time of entering into the Amendment.  The Amendment also provided
that the outstanding balance shall accrue interest at a rate of 8%
beginning on Aug. 1, 2023, and payment deferrals are no longer
permitted under the 2022 Promissory Note.

Upon the occurrence of certain events described in the 2022
Promissory Note, including, among others, the Company's failure to
pay amounts due and payable under the 2022 Promissory Note, events
of insolvency or bankruptcy, failure to observe covenants contained
in the Purchase Agreement and the 2022 Promissory Note, breaches of
representations and warranties in the Purchase Agreement, and
occurrence of certain transactions without the noteholder's
consent, the noteholder has the right, subject to certain
exceptions, to increase the balance of the 2022 Promissory Note by
15% for a Major Trigger Event (as defined in the 2022 Promissory
Note) and 5% for a Minor Trigger Event (as defined in the 2022
Promissory Note).  If a Trigger Event is not cured within five
trading days of written notice thereof from the noteholder, it will
result in an event of default.  Following an Event of Default,
Streeterville may accelerate the 2022 Promissory Note such that all
amounts thereunder become immediately due and payable, and interest
shall accrue at a rate of 15% annually until paid.

                               About Phunware

Headquartered in Austin, Texas, Phunware, Inc. --
http://www.phunware.com-- offers a fully integrated software
platform that equips companies with the products, solutions and
services necessary to engage, manage and monetize their mobile
application portfolios globally at scale.

Phunware reported a net loss of $50.89 million for the year ended
Dec. 31, 2022, compared to a net loss of $53.52 million for the
year ended Dec. 31, 2021. As of March 31, 2023, the Company had
$45.46 million in total assets, $23.55 million in total
liabilities, and $21.90 million in total stockholders' equity.

Houston, Texas-based Marcum LLP, Phunware Inc.'s auditor since
2018, issued a "going concern" qualification in its report dated
March 31, 2023, citing that the Company has a significant working
capital deficiency, has incurred significant losses and needs to
raise additional funds to meet its obligations and sustain its
operations.  These conditions raise substantial doubt about the
Company's ability to continue as a going concern.


PRIZE MANAGEMENT: Hires EJB Financial as Financial Monitor
----------------------------------------------------------
Prize Management, LLC seeks approval from the U.S. Bankruptcy Court
for the Eastern District of North Carolina to employ EJB Financial
Solutions as a financial monitor.

The firm will provide these services:

   a. assist the Debtor in setting up a good bookkeeping system and
improving the current system;

   b. review the Debtor's bank account weekly online and provide
simple financial reports to the Bankruptcy Administrator and
counsel for First Bank and report any unusual activities; and

   c. perform any other consulting services needed by the Debtor as
part of the bankruptcy proceedings.

The firm will be paid at the rate of $50 per hour.

The firm will also be reimbursed for reasonable out-of-pocket
expenses incurred.

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

The firm can be reached at:

      Ericka Brunson
      EJB Financial Solutions
      5650 Six Forks Rd
      Raleigh, NC 27609
      Tel: (919) 600-7907

              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.


PROVIDENT FUNDING: Moody's Cuts CFR to B2 & Unsecured Debt to B3
----------------------------------------------------------------
Moody's Investors Service has downgraded Provident Funding
Associates, L.P.'s corporate family rating to B2 from B1 and its
long-term senior unsecured debt rating to B3 from B2. Moody's has
also changed Provident's outlook to stable from negative.

RATINGS RATIONALE

The downgrade of Provident's CFR reflects the company's constrained
liquidity with respect to its ability to refinance its $230 million
of unsecured debt that matures in June 2025. In addition,
profitability has been constrained for many years due to the
company's weakening franchise positioning and subsequent decline in
market share over the past decade. Furthermore, the yield on the
company's unsecured debt is high, both on an absolute basis as well
as compared to peers; therefore, the company's access to the
unsecured debt markets is weaker than the average peer, a credit
negative for the company's liquidity profile. Partially offsetting
these operating challenges, the company's current capitalization
levels are solid, and the company has a long and stable operating
history driven by a focus on very high-quality prime loans. An
additional credit positive is the potential for sister companies,
Colorado Savings Bank and Provident Mortgage Trust, to inject
additional capital into Provident as both companies have done in
the past.

Like peers, Provident is reliant on mortgage servicing rights
(MSRs) secured financings and unsecured debt to finance its $574
million of MSR assets as September 30, 2023. The company financed
such MSRs with $228 million outstanding on its secured MSR
facilities that mature in July 2024 and $230 million in unsecured
debt outstanding that matures on June 15, 2025. Assuming an
industry average advance rate of 65% on the MSRs, Moody's believes
that Provident has a shortfall in its ability to refinance the
unsecured debt with additional secured MSR facilities, a credit
negative and a driver of the ratings downgrade.

Moody's also said that governance, an important consideration in
Moody's assessment of governance under its General Principles for
Assessing Environmental, Social and Governance Risks methodology,
is a key driver of the rating downgrade reflecting a moderate
weakness in Provident's liquidity risk management.

Profitability, as measured by net income to average managed assets,
was 1.2% annualized for the nine months ended September 30, 2023
compared with a full year gain due in large part to MSR write-ups
of 3.3% in 2022 and compared to a loss of -0.4% in 2021.
Provident's tax adjusted core profitability excluding non-recurring
items such as fair value changes of MSRs was 1.2% annualized for
the nine months ended September 30, 2023 compared with 0.6% in
full-year 2022. Moody's expects core profitability to continue to
improve in 2024; however, Moody's expects the increase will be
modest given the challenging operating environment for residential
mortgage originators, thus placing additional pressure on the
company's liquidity challenges.

Capitalization for the company is solid as measured by adjusted
tangible common equity (TCE) to adjusted tangible managed assets
(TMA) of 20.2% as of September 30, 2023, although this is down from
27.2% as of December 31, 2022 driven primarily by returned growth
in the portfolio.

The B3 senior unsecured bond rating is based on Provident's B2 CFR
and the application of Moody's Loss Given Default for
Speculative-Grade Companies methodology and model, which
incorporate their priority of claim and strength of asset
coverage.

The stable outlook reflects Moody's expectation that the company's
current ratings reflect the liquidity and profitability challenges
that the company faces over the next 12-18 months. In addition, the
stable outlook incorporates Moody's expectation that TCE to TMA
will remain above 15% over this time.

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

Provident's ratings could be upgraded if the company is able to
sustainably improve its profitability, such as net income to total
managed assets of greater than 2.5%, refinance its unsecured debt
maturing in 2025, while also maintaining adequate capitalization
for example with TCE to TMA of at least 16%. An upgrade of the
company's CFR would also likely be contingent upon the company
exhibiting strengthened access to the unsecured debt markets that
results in improved funding costs in relation to earning asset
yields.

The ratings could be downgraded if the company is unable to
refinance its unsecured debt, maturing on June 15, 2025, by
September 2024, if TCE to TMA falls and is expected to remain below
13.5%, or if Moody's believes that Provident is unable to maintain
modest core profitability as measured by net income to assets of at
least 1.0%. In addition, the unsecured debt could be downgraded if
the company increases its reliance on secured corporate funding,
such as secured MSR funding, whereby the ratio of secured corporate
funding to total corporate debt increases and is expected to remain
above 50%.

PRINCIPAL METHODOLOGY

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


QUALITY IRON: U.S. Trustee Unable to Appoint Committee
------------------------------------------------------
The U.S. Trustee for Region 8 disclosed in a court filing that no
official committee of unsecured creditors has been appointed in the
Chapter 11 cases of Quality Iron Fabricators, LLC and its
affiliates.
  
                  About Quality Iron Fabricators

Quality Iron Fabricators, LLC and affiliates operate as steel
products manufacturers. The companies are based in Memphis, Tenn.

The Debtors filed Chapter 11 petitions (Bankr. W.D. Tenn. Lead Case
No. 23-25578) on Nov. 10, 2023. In the petition signed by its chief
restructuring officer, Gary M. Murphey, Quality Iron Fabricators
disclosed up to $50,000 in assets and $10 million to $50 million in
liabilities.

Judge Ruthie Hagan oversees the cases.

James E. Bailey III, Esq., at Butler Snow LLP, represents the
Debtors as legal counsel.


RACHEL ONE: Seeks to Hire Samuels Accounting as Accountant
----------------------------------------------------------
Rachel One Holding Inc. seeks approval from the U.S. Bankruptcy
Court for the Eastern District of New York to employ Samuels
Accounting & Tax Services LLC as its accountants.

The firm will render these services:

     a. preparing federal, state and local tax returns and
supporting schedules;

     b. performing general tax consulting services, including
routine tax advice concerning federal, state and local tax matters
related to the preparation of federal, state and local tax
returns;

     c. providing routine tax advice concerning federal, state and
local tax matters related to the computation of the Debtor's
taxable income for the current year or future year(s);

     d. preparing monthly operating reports, variance reports,
financial statements and other relevant financial documents; and

     e. furnishing such other services that the Debtor may request
from time to time.

The firm's current hourly rates are as follows:

     Partners/Associates      $300
     Paraprofessionals        $150
     
As disclosed in the court filings, Samuels Accounting & Tax
Services is "disinterested" within the meaning of sections 101(14)
and 327(a) of the Bankruptcy Code.

The firm can be reached through:

     Clinton Samuel, CPA
     Samuel Accounting and Tax Services LLC
     114-06 Merrick Blv
     Jamaica, NY
     Phone: (718) 527-3820
     Email: samoclint@gmail.com

                About Rachel One

Rachel One Holding Inc. filed Chapter 11 petition (Bankr. E.D.N.Y.
Case No. 23-42184) on June 22, 2023, with as much as $50,000 in
assets and $100,001 to $500,000 in liabilities.

Judge Elizabeth S. Stong oversees the case.

Karamvir Dahiya, Esq., at Dahiya Law Offices, LLC represents the
Debtor as bankruptcy counsel.


RACHEL ONE: Taps Biolsi Law Group as Special Appellate Counsel
--------------------------------------------------------------
Rachel One Holding Inc. seeks approval from the U.S. Bankruptcy
Court for the Eastern District of New York to employ Biolsi Law
Group P.C. as its special foreclosure defense and appellate
counsel.

The Debtor seeks to retain the Biolsi Firm as its special
foreclosure defense and appellate counsel to prosecute its Appeal
and defend against the Foreclosure Action.

The Debtor is a Defendant in a foreclosure action styled Richmond
91st LLC against BSRV Inc., et al. The Foreclosure Action seeks to,
among other things, foreclose under the mortgage in connection with
the property located at 130-35 91st Avenue, Richmond Hill, New York
11418.

On or about April 27, 2023, the foreclosure court entered an order
granting a judgment of foreclosure and sale (JFS) in favor of the
lender. The Debtor subsequently appealed the JFS and perfected its
appeal. The appeal is currently stayed by virtue of the Debtor's
bankruptcy filing.

The Biolsi Law's current billing rates are:

     Principals/Senior Attorneys     Up to $350
     Junior Attorneys                Up to $250
     Paraprofessionals               Up to $125

Steven Biolsi, Esq., a principal of the Biolsi firm, assured the
court that his firm is a "disinterested person" as that term is
defined in Bankruptcy Code Section 101(14).

The firm can be reached through:

     Steven Biolsi, Esq.
     Biolsi Law Group P.C.
     7101 Austin Street, Suite 201B
     Forest Hills, NY 11375- 4781
     Phone: (718) 263-2624

                About Rachel One

Rachel One Holding Inc. filed Chapter 11 petition (Bankr. E.D.N.Y.
Case No. 23-42184) on June 22, 2023, with as much as $50,000 in
assets and $100,001 to $500,000 in liabilities.

Judge Elizabeth S. Stong oversees the case.

Karamvir Dahiya, Esq., at Dahiya Law Offices, LLC represents the
Debtor as bankruptcy counsel.


RAP OPERATING: Amends Plan to Include Royalty Interests Claims Pay
------------------------------------------------------------------
RAP Operating, L.L.C., submitted a Second Amended Plan of
Reorganization under Subchapter V dated December 4, 2023.

This Plan of Reorganization proposes to pay creditors of RAP
Operating, L.L.C., from the sale of the oil wells and current
profits from current operations. This Plan provides for 6 classes
of claims, they are as follows: 1 class of priority claims, 2
classes of secured claims, 1 class of unsecured claims, 1 class of
royalty claims, as well as 1 class of equity security holders. This
Plan also provides for the payment of administrative claims.

Class 1 consists of Tax Claims of Governmental Entities. Debtor
anticipates the sale of the oil wells will result in tax
consequences. However, since the sales price is not yet known, nor
the effect of any tax credits. The amount of any taxes owed is
speculative. However, if such taxes are determined to be owed, they
will be dealt with in subsequent amendments to this Plan.

Class 2 consists of the claim of Homeland Federal Savings Bank.
This creditor has timely filed 4 secured claims, claiming to be
secured by the aforementioned oil wells and in addition, it claims
a security interest in property not owned by the debtor. These
claims are as follows:

     * Claim No. 6 is filed in the amount of $356,250.33 and is
filed as fully secured by immovable property not owned by the
debtor. As a result, it is fully unsecured and will be treated as
such.

     * Claim No. 7 is in the amount of $229,639.78 and is filed as
fully secured by the oil wells, as well as immovable property that
is not owned by this debtor, so essentially it is solely secured by
the oil wells.

     * Claim No. 8 is in the amount of $370,583.64, and is filed as
fully secured by immovable property not owned by the debtor. As a
result, it is fully unsecured and will be treated as such.

     * Claim No. 9 is in the amount of $726,644.72, and is filed as
fully secured solely by the oil wells.

The oil wells will be transferred to the trust created hereinafter.
They will remain subject to the secured claims of this creditor.
They will be held, sold, leased, or abandoned, at the option of
this creditor with this creditor receiving all proceeds from the
trust, less administrative expenses. This creditor shall have the
right to designate the Trustee of the trust and approve of his or
her compensation.

Upon the Effective Date, the Debtor shall enter into a Trust
Agreement which will assign ownership of the debtor's oil wells
located in Matagorda County, Texas, being 8 in number
(collectively, the "Trust Assets") to the RAP Operating, L.L.C. Oil
Well Trust (hereinafter the "Trust"). Such transfer shall be deemed
to have irrevocably transferred to the Trust, for and on behalf of
the beneficiaries of the Trust, with no reversionary interest in
Trust assets for any equity holder in Debtor. The Agent shall make
all distributions from Trust Assets to Homeland Federal Savings
Bank for payment on its secured claims. Any net proceeds shall be
paid to unsecured creditors as described in this Plan.

"Net Proceeds" shall be defined as the sum of all proceeds from the
oil wells, after deduction of the fees and expenses of Trust
Professionals, the fees and expenses of the Agent, and any other
reasonable and necessary administrative costs, reserving to
interested parties the right to notice and an opportunity for
hearing of any objections to such costs.

Class 4 consists of the Claim of the Royalty Interests. These
persons and entities had a claim for payment of royalty payments at
the time the case was filed. The will be paid as follows: the
amount to which each was entitled will be paid, without interest,
with distributions to be made 30 days after the Effective Date.

Like in the prior iteration of the Plan, General Unsecured Claims
shall be paid $100.00 per month for 60 months.

Upon confirmation, the Debtor will be authorized to execute any and
all property transfers contemplated hereunder. Such transfers shall
be pursuant to such documents of title as reasonably required by
parties and in accordance with normal business practices. The
provisions of the automatic stay and any stay or injunction that
becomes effective upon confirmation will be lifted on ex parte
motion to the extent necessary for good title to be transferred to
such secured creditor.

A full-text copy of the Second Amended Plan dated December 4, 2023
is available at https://urlcurt.com/u?l=ozdMJg from
PacerMonitor.com at no charge.

Debtor's Counsel:

                  Thomas R. Willson, Esq.
                  THOMAS R. WILLSON
                  1330 Jackson Street, Suite C
                  Alexandria LA 71301
                  Tel: (318) 442-8658
                  Email: rocky@rockywillsonlaw.com

                      About Rap Operating

Rap Operating, LLC, is engaged in the oilfield service industry in
Central Louisiana, and is in the operation and management of
several oil wells located in Matagorda County, Texas.

The Debtor filed a petition under Chapter 11, Subchapter V of the
Bankruptcy Code (Bankr. W.D. La. Case No. 23-80316) on June 2,
2023, with $98,300 in assets and $1,609,309 in liabilities. James
E. Robbins, managing member, signed the petition.

Judge Stephen D. Wheelis oversees the case.

Thomas R. Willson, Esq., represents the Debtor as legal counsel.


REMARKABLE HEALTHCARE: Seeks to Tap Carrington Coleman as Counsel
-----------------------------------------------------------------
Remarkable Healthcare of Carrollton, LP and its affiliates seek
approval from the U.S. Bankruptcy Court for the Eastern District of
Texas to employ Carrington, Coleman, Sloman & Blumenthal, L.L.P. as
its counsel.

The firm's services include:

     a) advising the Debtors concerning their powers and duties as
debtors in possession in the continued operations of their
businesses and management of their property;

     b) acting to help protect, preserve and maximize the value of
the Debtors' estates, including the sale and liquidation of assets
outside the ordinary course of business, if prudent and advisable;

     c) preparing all necessary motions, applications, reports, and
pleadings in connection with the Debtors' chapter 11 cases,
including preparation and solicitation of a chapter 11
reorganization plan and related documents; and

     d) performing such other legal services for the Debtors in
connection with the Bankruptcy Case that the Debtors determine are
necessary and appropriate.

The firm has agreed to a prepetition retainer of $50,000 and
post-petition retainers totaling $100,000.

Mark Castillo, Esq., partner of Carrington Coleman Sloman &
Blumenthal, L.L.P., assured the Court that the firm is
"disinterested" as such term is defined in Section 101(14) of the
Bankruptcy Code.

The firm can be reached through:

     Mark A. Castillo, Esq.
     Robert C. Rowe, Esq.
     CARRINGTON, COLEMAN, SLOMAN
     & BLUMENTHAL, L.L.P.
     901 Main Street, Suite 5500
     Dallas, TX 75202
     Telephone: (214) 855-3000
     Facsimile: (214) 580-2641
     Email: markcastillo@ccsb.com
                  rrowe@ccsb.com

        About Remarkable Healthcare of Carrollton, LP

Remarkable Healthcare of Carrollton, LP and affiliates own and
operate nursing home facilities.

The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. E.D. Tex. Case No. 23-42098) on November 2,
2023. In the petition signed by Laurie Beth McPike, CEO, the Debtor
disclosed up to $10 million in both assets and liabilities.

Judge Brenda T. Rhoades oversees the case.

Mark Castillo, Esq., at Carrington, Coleman, Sloman & Blumental,
LLP, represents the Debtor as legal counsel.


RGV PUMP: Case Summary & 13 Unsecured Creditors
-----------------------------------------------
Debtor: RGV Pump & Equipment LLC
        2050 Utex Drive
        San Benito, TX 78586

Business Description: RGV Pumps and Equipment, established in San
                      Benito, TX in March 2008, is a provider of
                      solutions for automotive & commercial
                      trucks, and industrial equipment.  Its
                      services include lubricant delivery, waste
                      oil removal, equipment servicing, and
                      fueling.

Chapter 11 Petition Date: December 12, 2023

Court: United States Bankruptcy Court
       Southern District of Texas

Case No.: 23-10223

Judge: Hon. Eduardo V. Rodriguez

Debtor's Counsel:  Robert C. Lane, Esq.
                   THE LANE LAW FIRM
                   6200 Savoy Dr. Ste 1150
                   Houston TX 77036-3369
                   Tel: (713) 595-8200
                   Fax: (713) 595-8201
                   Email: notifications@lanelaw.com

Debtor's
Bookkeeper:        GROWBOOKS BUSINESS SOLUTIONS LLC

Total Assets: $329,021

Total Liabilities: $1,690,466

The petition was signed by Eliud George as managing member.

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

https://www.pacermonitor.com/view/ADWCEVI/RGV_Pump__Equipment_LLC__txsbke-23-10223__0001.0.pdf?mcid=tGE4TAMA


RISKON INTERNATIONAL: Nasdaq Rejects Plan to Regain Compliance
--------------------------------------------------------------
RiskOn International, Inc. disclosed in a Form 8-K filed with the
Securities and Exchange Commission that on Dec. 1, 2023, The Nasdaq
Stock Market LLC notified the Company that it had rejected the
Company's compliance plans, citing the lack of a definitive
strategy to promptly comply with the ongoing listing standards and
to maintain such compliance long-term.  

As a result, unless the Company requests an appeal of this
determination, the Staff has determined that the Company's common
stock will be scheduled for delisting from the Nasdaq Capital
Market and will be suspended and a Form 25-NSE will be filed with
the SEC, which will remove the Company's common stock from listing
and registration on Nasdaq.

The Company will request an appeal of the Staff's determination to
a Hearings Panel, pursuant to the procedures set forth in the
Nasdaq Listing Rule 5800 Series.  The hearing request will stay the
suspension of the Company's common stock and the filing of the Form
25-NSE pending the Panel's decision, and the Company's common stock
will continue to trade on the Nasdaq Capital Market under the
symbol "ROI."  There can be no assurance as to the success or
outcome of the appeal to the Panel.

On July 18, 2023, RiskOn was notified by Nasdaq that the Company's
stockholders' equity as reported in its Annual Report on Form 10-K
for the fiscal year ended March 31, 2023, did not satisfy the
continued listing requirement under Nasdaq Listing Rule 5550(b)(1)
which requires that a listed company's stockholders' equity be at
least $2.5 million.  As reported on its Form 10-K, the Company's
stockholders' equity as of March 31, 2023 was approximately $(13.9)
million.  The Company was provided 45 calendar days, or until Sept.
1, 2023, to submit a plan to regain compliance with the Equity
Rule.

On Aug. 25, 2023, the Company submitted a plan of compliance to
Nasdaq to regain compliance with the Equity Rule by no later than
180 days after July 18, 2023.  The Company also submitted revised
versions of this Plan on Sept. 6, 2023 and Sept. 14, 2023 detailing
the actions the Company would take to regain compliance with the
Equity Rule.

                     About RiskOn International

Founded in 2011, RiskOn International, Inc. (formerly known as
BitNile Metaverse, Inc.) owns 100% of BNC, including the
BitNile.com metaverse platform.  The Platform, which went live to
the public on March 1, 2023, allows users to engage with a new
social networking community and purchase both digital and physical
products while playing 3D immersive games. In addition to BNC, the
Company also owns two non-core subsidiaries: approximately 66% of
Wolf Energy Services Inc. (OTCQB: WOEN) indirectly and
approximately 89% of Agora Digital Holdings, Inc. directly. RiskOn
also owns approximately 70% of White River Energy Corp (OTCQB:
WTRV).

RiskOn reported a net loss of $87.36 million on zero revenue for
the year ended March 31, 2023, compared to a net loss of $10.55
million on $27,182 of revenues for the year ended March 31, 2022.
As of June 30, 2023, the Company had $22.66 million in total
assets, $28.17 million in total liabilities, and a total
stockholders' deficit of $5.51 million.

New York, New York-based RBSM LLP, the Company's auditor since
2019, issued a "going concern" qualification in its report dated
July 14, 2023, citing that the Company has suffered recurring
losses from operations and had an accumulated deficit that raises
substantial doubt about its ability to continue as a going concern.


ROAD LION: Seeks to Hire Bush Law Firm as Bankruptcy Counsel
------------------------------------------------------------
Road Lion Corporation seeks approval from the U.S. Bankruptcy Court
for the Southern District of Alabama to employ The Bush Law Firm,
LLC as its bankruptcy counsel.

The firm will render these services:

     a. advise the Debtor-in-Possession as to the rights, powers
and duties of a Debtor-in-Possession, as enumerated within 11
U.S.C. Sec. 1101, et seq.;

     b. prepare and file the documents necessary to advance this
case including, but not limited to, answers, applications, motions,
proposed orders, responses, schedules, plans, objections and other
necessary documents;

     c. attend the intake conference, the meeting of creditors and
hearings on behalf of the Debtor-in-Possession;

     d. negotiate with the various classes of creditors with
respect to the plan of reorganization;

     e. prepare, negotiate and advance a plan of reorganization or
liquidation, as applicable;

     f. prepare and file the plan and status reports, as
applicable;

     g. defend challenges to the automatic stay set forth within 11
U.S.C. Sec. 362(a); and

     h. perform such other legal services and/or prepare and/or
file such other documents as may be necessary.

The firm received a retainer in the amount of $11,738.

The firm can be reached through:

     Anthony B. Bush, Esq.
     THE BUSH LAW FIRM, LLC
     Parliament Place Professional Center
     3198 Parliament Circle 302
     Montgomery, AL 36116
     Telephone: (334) 263-7733
     Facsimile: (334) 832-4390
     Email: anthonybbush@yahoo.com
            abush@bushlegalfirm.com

            About Road Lion Corporation

Road Lion Corporation sought protection for relief under Chapter 11
of the Bankruptcy Code (Bankr. S.D. Ala. Case No. 23-12841) on Dec.
1, 2023, listing $500,001-$1 million in both assets and
liabilities. Perry Lee Bryant signed the petition as
president/shareholder.

Anthony Bush, Esq. at The Bush Law Firm, LLC represents the Debtor
as counsel.


RYVYL INC: Investor Agrees to Push Back Note Repayment to 2025
--------------------------------------------------------------
RYVYL Inc. disclosed in a Form 8-K Report filed with the Securities
and Exchange Commission that on November 27, 2023, the Company
entered into an Exchange Agreement with an institutional investor.
Under the terms of a Second Exchange Agreement, the Investor agreed
to forbear from requiring the repayment of a convertible note -- to
the extent such repayment obligation arises solely as a result of
the occurrence of the maturity date and not with respect to any
event of default or redemption rights in the Note or pursuant to
the Indenture -- during the period commencing on November 5, 2024
through, and including, April 5, 2025.

As previously reported in the Current Report on Form 8-K filed by
the Company on July 26, 2023, the Company entered into an Exchange
Agreement with an institutional investor, which previously provided
$100 million in convertible note financing to the Company,
evidenced by an 8% Convertible Note Due 2023, issued to the
Investor on November 8, 2021, which Note was originally due on
November 5, 2023, and which maturity date was extended to November
5, 2024, pursuant to a Restructuring Agreement, dated as of August
16, 2022.

The Company has not disclosed the identity of the investor.

Under the terms of the First Exchange Agreement, the Company and
the Investor exchanged an aggregate of $6,000,000 of principal and
accrued interest of the Note into 6,000 shares of Series A
Convertible Preferred Stock, $0.01 par value, the terms of which
are set forth in the certificate of designations for such series of
preferred stock, which Existing Series A Preferred Stock is
convertible into shares of the Company's common stock, par value
$0.001, in accordance with the terms of the Series A Certificate of
Designations. Additionally, under the terms of the First Exchange
Agreement, a final closing was to be held upon which the Investor
was to exchange an additional $16,703,000 of principal of the Note
into 9,000 shares of Series A Preferred Stock, the terms of which
are set forth in the Series A Certificate of Designations, which
shares of Unissued Series A Preferred Stock were convertible into
shares of Common Stock, in accordance with the terms of the Series
A Certificate of Designations.

Under the terms of the Second Exchange Agreement, the Company and
the Investor have agreed to exchange, upon satisfaction of all
applicable closing conditions (or waiver of any of such conditions
by the applicable other party), (i) all of the shares of Existing
Series A Preferred Stock, (ii) the right to the exchange the shares
of Unissued Series A Preferred Stock for an additional $16,703,000
of principal of the Note, and (iii) $60,303,000 of the outstanding
principal under the Note for 55,000 shares of a newly authorized
series of preferred stock of the Company designated as Series B
Preferred Convertible Stock, the terms of which will be set forth
in a Certificate of Designations of Rights and Preferences of
Series B Convertible Preferred Stock of RYVYL, Inc., which the
Company will file with the Nevada Secretary of State prior to the
initial issuance of any shares of Series B Preferred Stock.
Satisfaction of all applicable closing conditions includes, without
limitation, the Company's having obtained any stockholder approval
required for the consummation of the transactions and the issuance
of all Common Stock issuable upon the conversion of all of the
shares of Series B Preferred Stock (unless waived by the applicable
other party), in the Exchange. As additional consideration for the
Exchange, the Company has also agreed to make a cash payment to the
Investor in the amount of $3,000,000. The Investor has also agreed
to extend the waiver of payment of interest under the Note through
July 1, 2024.

Under the terms of the Series B Certificate of Designations, each
share of Series B Preferred Stock will have a stated value of
$1,000 per share, and will be convertible, at the holder's option,
either (a) at the fixed conversion price then in effect, which
initially is $3.11 (subject to standard antidilution adjustments
and adjustments as a result of subsequent issuances of securities
where the effective price of the Common Stock is less than the then
current fixed conversion price) or (b) at the Alternate Conversion
Price. The Series B Certificate of Designations also provides that
in the event of certain "Triggering Events," any holder may, at any
time, convert any or all of such holder's Series B Preferred Stock
at a conversion rate equal to the product of (i) the Alternate
Conversion Price and (ii) 115% of the value of the Series B
Preferred Stock subject to such conversion.

"Triggering Events" include, among others, (i) a failure to timely
deliver shares of Common Stock, upon a conversion, (ii) a
suspension of trading on the principal trading market or the
failure to be traded or listed on the principal market for five
days or more, (iii) the failure to pay any dividend to the holders
of Series B Preferred Stock when required, (iv) the failure to
remove restrictive legends when required, (v) the Company's default
in payment of indebtedness in an aggregate amount of $2 million or
more, (vi) proceedings for a bankruptcy, insolvency, reorganization
or liquidation, which are not dismissed with 30 days, (vii)
commencement of a voluntary bankruptcy proceeding, and (viii) final
judgments against the Company for the payment of money in excess of
$2 million.

"Alternate Conversion Price" means the lower of (i) the applicable
conversion price then in effect and (ii) the greater of (x) $0.62
(the "Floor Price") and (y) 97.5% of the lowest volume weighted
average price of the Common Stock during the five (5) consecutive
trading day period ending and including the trading day immediately
preceding the delivery of the applicable conversion notice.

On November 29, 2023, pursuant to the terms of the Exchange
Agreement, the Company closed the exchange transaction pursuant to
which the Company issued to the Investor 55,000 shares of the
Company's Series B Convertible Preferred Stock, $0.01 par value,
and paid the Investor a $3 million cash payment, in exchange for
6,000 shares of the Company's Series A Convertible Preferred Stock
previously issued to the Investor and the reduction of the
principal amount of Note in the aggregate amount of $60.3 million.

The Exchange was made in reliance upon the exemption from
registration provided by Section 3(a)(9) of the Securities Act of
1933, as amended.

                        About RYVYL Inc.

San Diego, CA- based RYVYL Inc. (NASDAQ: RVYL) is a financial
technology company that develops, markets, and sells innovative
blockchain-based payment solutions, which offer significant
improvements for the payment solutions marketplace. The Company's
core focus is developing and monetizing disruptive blockchain-based
applications, integrated within an end-to-end suite of financial
products, capable of supporting a multitude of industries. The
Company's proprietary, blockchain-based systems are designed to
facilitate, record, and store a limitless volume of tokenized
assets, representing cash or data, on a secured, immutable
blockchain-based ledger.

As of September 30, 2023, RYVYL has $120.26 million in total assets
and $138.29 million in total liabilities.


S VALLEY VIEW: Hires Kaempfer Crowell LLP as Special Counsel
------------------------------------------------------------
S Valley View Twain, LLC seeks approval from the U.S. Bankruptcy
Court for the District of Nevada to employ Kaempfer Crowell LLP as
special counsel.

The Debtor needs the firm's legal assistance in connection with the
land use matter for the Debtor's industrial office flex center
commonly known as Spring Mountain Highland Park, which has an
address of 3610-3686 S. Highland Drive, Las Vegas, Nevada 89103,
being APNs 162-17-203-001 thru 008 (the "SMH Center") and 3675
Procyon Street, Las Vegas, Nevada 89103, being APN 162-17-201-015
(the "Procyon Center").

The firm will be paid at these rates:

     Jennifer Lazovich       $550 per hour
     Elisabeth (Delk) Olson  $435 per hour

The firm hold a pre-petition claim in the total amount of
$5,267.33, including $4,189.50 in fees and $1,077.83 in costs for
its representation in land use matters.

Jennifer Lazovich, Esq., a partner at Kaempfer Crowell 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:

     Jennifer Lazovich, Esq.
     Kaempfer Crowell LLP
     1980 Festival Plaza Drive, Suite 650
     Las Vegas, NV 89135
     Tel: (702) 792-7000

              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.


SADIE ROSE: Seeks to Tap Franklin Soto Leeds as Bankruptcy Counsel
------------------------------------------------------------------
Sadie Rose Baking Co. seeks approval from the U.S. Bankruptcy Court
for the Southern District of California to hire Franklin Soto Leeds
LLP as their general bankruptcy counsel.


The firm will render these services:

     (a) advise the Debtor regarding matters of bankruptcy law;

     (b) represent the Debtor in proceedings or hearings in the
bankruptcy court involving matters of bankruptcy law;

     (c) prepare and assist the Debtor in the preparation of
reports, accounts, applications, and orders;

     (d) advise the Debtor concerning the requirements of the
Bankruptcy Code and rules relating to administration of this
bankruptcy case; and

     (e) assist the Debtor in the negotiation, formulation,
confirmation, and implementation of the plan of reorganization.

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

     Paul J. Leeds, Partner             $500
     Meredith King, Associate           $400
     Other Partners              $400 - $500
     Other Associates            $300 - $400
     Paralegals                         $175

The firm received a retainer in the amount of $98,000.

Paul Leeds, Esq. a partner at Franklin Soto Leeds, disclosed in a
court filing that the firm is a "disinterested person" as that term
is defined in Section 101(14) of the Bankruptcy Code.

The firm can be reached through:

     Paul J. Leeds, Esq.
     Meredith King, Esq.
     Franklin Soto Leeds, LLP
     444 West C Street, Suite 300
     San Diego, CA 92101
     Telephone: (619) 872-2520
     Facsimile: (619) 566-0221
     Email: pleeds@fsl.law
            mking@fsl.law

           About Sadie Rose Baking Co.

Sadie Rose Baking Co. makes handmade artisan and specialty bread,
rolls, sandwich buns and flatbreads.

The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. S.D. Cal. Case No. 23-03478) on November 3,
2023. In the petition signed by Jennifer Curran, CEO, the Debtor
disclosed $2,212,893 in assets and $9,700,278 in liabilities.

Meredith King, Esq., at Franklin Soto Leeds LLP, represents the
Debtor as legal counsel.


SAFE HAVEN HEALTH: Takes Cigna Fight to 9th Circuit
---------------------------------------------------
Bonnie Eslinger of Law360 reports that a holding company for a drug
and alcohol treatment center, Safe Haven Health Care, urged the
Ninth Circuit on Thursday, December 7, 2023 to revive its lawsuit
claiming Cigna forced it into bankruptcy by not paying more than $8
million in authorized claims, saying the health insurer wrongly
accused the center of violating its health term plans.

                 About Safe Haven Health Care

Safe Haven Health Care, Inc. -- http://www.safehavenhealthcare.org/
-- provides both in-patient and out-patient psychiatric, skilled
nursing and assisted living services. The Company has facilities
throughout southwestern, central and eastern Idaho. Safe Haven is
a
division of CareFix, Inc.

Safe Haven Health Care filed a Chapter 11 petition (Bankr. D. Idaho
Case No. 18-01044) on Aug. 10, 2018.  In the petition signed by
Scott Burpee, president, the Debtor disclosed $10,234,818 in assets
and $17,313,444 in liabilities.  The case is assigned to Judge Jim
D. Pappas.  Angstman Johnson, led by Matthew Todd Christensen, is
the Debtor's counsel.


SALO ENTERPRISE: Hires Vilarino & Associates LLC as Counsel
-----------------------------------------------------------
Salo Enterprise Corp. seeks approval from the U.S. Bankruptcy Court
for the District of Puerto Rico to employ Vilarino & Associates,
LLC as counsel.

The firm's services include:

     a) advising the Debtor with respect to its duties, powers and
responsibilities in this Chapter 11 case under the laws of the
United States and Puerto Rico in which the Debtor conducts its
operations, does business, or is involved in litigation;

     b) advising the Debtor to determine whether reorganization is
feasible and, if not, helping the Debtor in the orderly liquidation
of its assets;

     c) assisting the Debtor in negotiations with creditors for the
purpose of proposing and confirming a viable plan of
reorganization;

     d) preparing legal papers;

     e) appearing before the bankruptcy court, or any court in
which the Debtor asserts a claim interest or defense directly or
indirectly related to this bankruptcy case;

     f) performing such other legal services for the Debtor as may
be required in these proceedings or in connection with the
operation of and involvement with the Debtor's business, including
but not limited to, notarial services;

     g) employing other professional services, if necessary.

The firm will be paid at these rates:

      Javier Vilarino, Esq.    $300 per hour
      Associates               $225 per hour
      Paralegals               $150 per hour

Vilarino & Associates is a "disinterested person" within the
meaning of Section 101(14) of the Bankruptcy Code, according to
court filings.

The firm can be reached through:

      Javier Vilarino, Esq.
      Vilarino & Associates, LLC
      P.O. Box 9022515
      San Juan, PR 00902-2515
      Telephone: (787) 565-9894
      Email: jvilarino@vilarinolaw.com

              About Salo Enterprise Corp.

Salo Enterprise Corp., filed a Chapter 11 bankruptcy petition
(Bankr. D.P.R. Case No. 23-03865) on November 27, 2023. The Debtor
hires Vilarino & Associates, LLC as counsel.


SAMSONITE INTERNATIONAL: S&P Alters Outlook to Pos, Affirms BB ICR
------------------------------------------------------------------
S&P Global Ratings revised its outlook to positive from stable and
affirmed all ratings, including its 'BB' issuer credit rating.

The positive outlook reflects the potential for an upgrade if
Samsonite continues to demonstrate sustained strong performance
amid stable demand in the travel industry.

The outlook revision reflects Samsonite's ongoing strong recovery
in operating performance driving improving credit metrics. For the
trailing 12 month (TTM) period ended Sept 30, 2023, S&P Global
Ratings-adjusted leverage improved to 2.1x compared to 3.3x in the
TTM period ended Sept 30, 2022 due to top-line growth and margin
expansion. On a year-to-date basis, revenues reached $2.7 billion,
which supported around $645 million of S&P Global Ratings-adjusted
EBITDA generation, surpassing 2019 (pre-COVID) levels for the same
period.

The significant improvement in margins over pre-COVID levels
continues to reflect management's successful execution of
fixed-cost structure refinement, which included headcount
reductions, store closures, and corporate spending cutbacks. S&P
believes this intent focus on operational efficiency, combined with
a significant recovery in the travel industry, has allowed
Samsonite to enhance profitability even against a difficult
macroeconomic backdrop. As the exponential growth due to recovery
in the travel industry tapers off and begins to approach a
normalized level in 2024 and beyond, S&P expects EBITDA margin to
remain in the low-20% range, supporting a leverage profile around
2x.

S&P said, "We expect the company to sustain margins at these higher
levels driven by ongoing recovery in travel demand and growth at
the higher-margin Tumi and Samsonite brands. Samsonite has reported
double-digit growth for the past several quarters, with revenues up
21% (on a constant currency basis) in the third quarter, benefiting
from the recovery and increase in travel demand. Gross margins
improved 460 basis points (bps) compared to the third quarter of
2022 reflecting growth in the higher margin Tumi and Samsonite
brands, which were up 29.8% and 20.1% (on a constant currency
basis), respectively, in the third quarter. Improvement was also
driven by Asia, the region with the highest gross margin and
increasing its share of net sales. We expect these positive trends
to continue and forecast revenue growth of about 30% alongside
continued leverage of the company's operational efficiencies, which
supports S&P Global Ratings-adjusted EBITDA margin improving 150
bps to around 23.0% in 2023.

"We anticipate EBITDA margin to be sustained around this level as
growth rates at the higher margin Samsonite and Tumi brands remain
ahead of the company's other brands and revenue contribution from
Asia remains robust, amid some moderation in revenue growth as
travel demand normalizes. Though we expect softening consumer
spending, consumers continue to show a willingness to spend on
experiences, including travel, which bodes well for Samsonite as
they return to a more normalized operating environment.

"We expect significant free operating cash flow (FOCF) generation,
supported by an asset-light business model, allowing the company to
operate with leverage around 2x. We forecast the company will
generate free operating cash flow of more than $300 million in 2023
improving to over $400 million in 2024, driven by increasing
EBITDA, strategic capital investment, and improvement in net
working capital efficiency. That said, the company took a hiatus on
cash distributions to shareholders in 2020 to shore up liquidity
for the business following the onset of COVID-19, and we note that
a resumption of shareholder-friendly activities could diminish cash
flow and limit credit metrics. Although not in our forecast, we
also remain cognizant that the pursuit of future debt-funded
acquisitions, such as the 2016 Tumi deal, may drive leverage beyond
the company's stated 2x target.

"The positive outlook reflects that we could raise our ratings over
the next 12 months if the company maintains S&P Global
Ratings-adjusted EBITDA margin in the low-20% area supporting a
leverage profile below 2x."

S&P could revise its outlook to stable if:

-- The company is unable to maintain leverage below 2x. This could
occur if operational performance weakens resulting in credit
metrics below that of our base case; or

-- Management pursues a more aggressive financial policy with a
greater appetite for leverage or cash distributions to shareholders
that exhausts a substantial amount of FOCF.

S&P could raise its ratings on Samsonite if:

-- It builds on its current operating momentum with revenue and
EBITDA margins in line with S&P's forecast, and a disciplined
financial policy that supports leverage sustained below 2x; and

-- S&P believes it can operate with stable credit metrics through
challenging economic cycles.



SAS AB: Anticipates to Complete Chapter 11 Process in June 2024
---------------------------------------------------------------
Christopher Jungstedt of Bloomberg News reports that airline SAS AB
is set to complete its US Chapter 11 process by June 2024 following
expected regulatory approvals in Europe, according to Chief
Executive Officer Anko van der Werff.

That means the process is going according to plan, the CEO said in
an interview on Thursday after posting fourth-quarter earnings that
saw its adjusted pretax loss widen 30% year-on-year.

The CEO said on Nov. 30, 2023, that the Company currently targets
receiving approval of the Chapter 11 plan from the US court in
early 2024, to be followed by obtaining regulatory approvals and
the implementation of a Swedish company reorganization at the SAS
AB level (likely to be filed by SAS AB in 2024).  As a result of
that process, all of SAS AB's common shares and listed commercial
hybrid bonds are expected to be cancelled, redeemed and delisted
(currently expected to take place during the second quarter of
2024).  Consequently, there is no expected value for existing
shareholders in SAS AB and only a modest recovery is expected for
the holders of commercial hybrid bonds. SAS expects that its
operations will be unaffected by such legal proceedings and that it
will continue to serve its customers as normal.

                About Scandinavian Airlines

SAS SAB -- https://www.sasgroup.net/ -- Scandinavia's leading
airline, with main hubs in Copenhagen, Oslo and Stockholm, is
flying to destinations in Europe, USA and Asia.  In addition to
flight operations, SAS offers ground handling services, technical
maintenance, and air cargo services. SAS is a founder member of the
Star Alliance, and together with its partner airlines offers a wide
network worlxdwide.

SAS AB and its subsidiaries, including Scandinavian Airlines
Systems Denmark-Norway-Sweden and Scandinavian Airlines of North
America Inc., sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. S.D.N.Y. Lead Case No. 22-10925) on July 5,
2022.  In the petition filed by Erno Hilden, authorized
representative, SAS AB estimated assets between $10 billion and $50
billion and liabilities between $1 billion and $10 billion.

Judge Michael E. Wiles oversees the cases.

The Debtors tapped Weil, Gotshal & Manges, LLP as global legal
counsel; Mannheimer Swartling Advokatbyra AB as special counsel;
FTI Consulting, Inc. as financial advisor; Ernst & Young AB as tax
advisor; and Seabury Securities, LLC and Skandinaviska Enskilda
Banken AB as investment bankers. Seabury is also serving as
restructuring advisor. Kroll Restructuring Administration, LLC is
the claims agent and administrative advisor.

The U.S. Trustee for Region 2 appointed an official committee to
represent unsecured creditors in the Debtors' Chapter 11 cases.
The committee is represented by Willkie Farr & Gallagher, LLP.


SB PROPERTY: Voluntary Chapter 11 Case Summary
----------------------------------------------
Debtor: SB Property Group LLC
        750 Old Hickory Blvd Bldg. 2 #150
        Brentwood, TN 37027

Business Description: SB Property is the owner of six properties
                      located in Nashville and Franklin,
                      Tennessee, having a total current value of
                      $5.47 million.

Chapter 11 Petition Date: December 11, 2023

Court: United States Bankruptcy Court
       Middle District of Tennessee

Case No.: 23-04528

Judge: Hon. Marian F. Harrison

Debtor's Counsel: Keith D. Slocum, Esq.
                  SLOCUM LAW
                  370 Mallory Station Road Suite 504
                  Franklin, TN 37067
                  Tel: (615) 656-3344
                  Email: keith@keithslocum.com

Total Assets: $5,475,000

Total Liabilities: $1,100,015

The petition was signed by Bruce Little Jr. as president/manager.

The Debtor indicated it has no unsecured creditors.

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

https://www.pacermonitor.com/view/DIU33WA/SB_Property_Group_LLC__tnmbke-23-04528__0001.0.pdf?mcid=tGE4TAMA


SBG BURGER: Latham Luna Represents Two Landlords
------------------------------------------------
Justin M. Luna, Esq. of Latham, Luna, Eden & Beaudine, LLP, filed a
verified statement pursuant to Rule 2019 of the Federal Rules of
Bankruptcy Procedure to disclose that in the Chapter 11 cases of
SBG Burger Opco, LLC and its debtor-affiliates, the firm represents
two landlords of the Debtors.

The names and addresses of the landlords represented by the Firm
are:

  1. 2018 PCG FUND, LLC
     300 Kings Point Drive Unit 905
     Sunny Isles Beach, FL 33160

  2. AB SR TAMPA, LLC
     3301 Oak Knoll Drive
     Los Alamitos, CA 90702

The law firm can be reached at:

     Justin M. Luna, Esq.
     Latham, Luna, Eden & Beaudine, LLP
     201 S. Orange Avenue, Suite 1400
     Orlando, Florida 32801
     Telephone: (407) 481-5800
     Facsimile: (407) 481-5801
     Primary E-Mail: jluna@lathamluna.com
     Secondary E-Mail: bknotice1@lathamluna.com

                  About SBG Burger Opco, LLC

SBG Burger Opco, LLC and affiliates operate 73 Wendy's, 6
McAlister's Deli, 15 Subway, 5 Fuzzy's Taco Shop and 22 CiCi's
Pizza restaurants across Alabama, Florida, Illinois, Missouri,
Louisiana, Wisconsin and Texas. The Debtors sought protection under
Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Lead Case
No. 23-04797) on November 14, 2023.

The Debtors are Starboard Group of Space Coast, LLC; Starboard
Group of Southeast Florida, LLC; Starboard Group of Tampa, LLC;
Starboard Group of Tampa II, LLC; Starboard Group of Alabama, LLC;
7 S & M Foods, LLC; 9 S & M Foods, LLC; 10 S & M Foods, LLC;
Starboard with Cheese, LLC; and SBG Burger Opco, LLC.

In the petition signed by Andrew Levy, manager, lead Debtor SBG
Burger Opco, LLC disclosed up to $50,000 in both assets and
liabilities. SBG Alabama listed $1 billion to $10 billion in
estimated assets and $1 billion to $10 billion in estimated
liabilities. SBG Spacecoast listed $10 million to $50 million in
estimated assets and $1 million to $10 million in estimated
liabilities. SBG Cheese listed $1 million to $10 million in
estimated assets and $1 million to $10 million in estimated
liabilities. SBG Tampa listed $1 million to $10 million in
estimated assets and $1 million to $10 million in estimated
liabilities. SBG SE Florida listed $1 million to $10 million in
estimated assets and $1 million to $10 million in estimated
liabilities.

Scott A. Underwood, Esq., at Underwood Murray, PA, is the Debtor's
legal counsel.


SHIFT TECHNOLOGIES: Seeks to Hire Hilco IP Services as Consultant
-----------------------------------------------------------------
Shift Technologies, Inc. seeks approval from the U.S. Bankruptcy
Court for the Northern District of California to employ Hilco IP
Services, LLC d/b/a Hilco Streambank as its intellectual property
advisor.

The firm will render these services:

     (a) market and sell, assign, license, or otherwise dispose of
the assets in one or more transactions, as the Debtors so
designate;

     (b) work with the Debtors and their advisors to collect and
secure all of the available information and data concerning the
assets;

     (c) prepare marketing materials designed to inform potential
purchasers of the availability of the assets for sale, assignment,
license, or other disposition and shall develop and execute a sales
and marketing program designed to elicit proposals to acquire the
assets from qualified acquirers with a view toward completing one
or more sales, assignments, or other dispositions of the assets;

     (d) assist the Debtors in connection with the transfer of the
assets to the acquirer(s) who offer the highest or otherwise best
consideration for the assets;

     (e) be responsible for the execution of all marketing and
sales activities related to the assets; and

     (f) use commercially reasonable efforts to obtain the highest
or otherwise best purchase price from potential purchasers.

Hilco Streambank will be paid a commission that is 10 percent of
the first $2,000,000 of Gross Proceeds and 15 percent of Gross
Proceeds in excess of $2,000,000. Hilco Streambank will also be
entitled to reimbursement of expenses.

David Peress, executive vice president of Hilco, 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:

     David Peress
     Hilco IP Services, LLC d/b/a Hilco Streambank
     1500 Broadway Suite 810
     New York, NY 10036
     Telephone: (617) 458-9355
     Email: dperess@hilcoglobal.com

            About Shift Technologies, Inc.

Shift Technologies, Inc. is a consumer-centric omnichannel used car
retailer. The Company operates the website www.shift.com and two
locations in Oakland and Pomona, California.

Shift Technologies and its affiliates sought protection under
Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Cal. Lead Case
No. 23-30687) on October 9, 2023. In the petitions signed by Jason
Curtis, chief financial officer, Shift Technologies disclosed up to
$50,000 in assets and up to $500,000 in liabilities.

Judge Hannah L. Blumenstiel oversees the cases.

The Debtor tapped Thomas B. Rupp, Esq., at Keller Benvenutti Kim
LLP as counsel and Omni Agent Solutions, Inc. as claims and
noticing agent.


SINTX TECHNOLOGIES: Stockholders Elect Two Directors
----------------------------------------------------
SINTX Technologies, Inc. disclosed in a Form 8-K filed with the
Securities and Exchange Commission that it held its 2023 annual
meeting of stockholders at which the stockholders:

   (1) elected B. Sonny Bal, MD and Jeffrey S. White as Class III
directors to hold office for a term expiring at the annual meeting
of stockholders to be held in 2026 or until their respective
successors are elected and qualified;

   (2) ratified the Audit Committee's appointment of Tanner LLC as
the Company's independent registered public accounting firm for the
year ending Dec. 31, 2023;

   (3) did not adopt, on an advisory basis, a non-binding
resolution approving the compensation of the Company's named
executive officers, as described in the Proxy Statement under
"Executive Compensation;"

   (4) did not approve an amendment to the Company's 2020 Equity
Incentive Plan to increase the authorized number of shares of
common stock of the Company issuable under all awards granted under
the plan from 19,029 to 1,319,029; and

   (5) approved one or more adjournments of the annual meeting, if
necessary or appropriate, to solicit additional proxies if there
are insufficient votes at the time of the meeting to adopt one or
more of the foregoing proposals.
  
                        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
Dec. 31, 2022, the Company had $15.77 million in total assets,
$10.07 million in total liabilities, and $5.70 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).


SIS TRUCKING: James Overcash Named Subchapter V Trustee
-------------------------------------------------------
The Acting U.S. Trustee for Region 13 appointed James Overcash,
Esq., as Subchapter V trustee for Sis Trucking, LLC.

Mr. Overcash, a partner at Woods Aitken, LLP, will be paid an
hourly fee of $350 for his services as Subchapter V trustee and
will be reimbursed for work-related expenses incurred.

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

The Subchapter V trustee can be reached at:

     James A. Overcash, Esq.
     Woods Aitken, LLP
     301 South 13th Street, Suite 500
     Lincoln, NE 68508
     Phone: 402-437-8519
     Email: jovercash@woodsaitken.com

                        About Sis Trucking

Sis Trucking, LLC filed a petition under Chapter 11, Subchapter V
of the Bankruptcy Code (Bankr. D. Neb. Case No. 23-41123) on Nov.
28, 2023, with up to $500,000 in assets and up to $50,000 in
liabilities.

John A. Lentz, Esq., at Lentz Law, PC, LLO represents the Debtor as
bankruptcy counsel.


SMART EARTH: Hires Allen Matkins as General Bankruptcy Counsel
--------------------------------------------------------------
Smart Earth Technologies LLC and Smart Water Services LLC seek
approval from the U.S. Bankruptcy Court for the District of
Delaware to employ Allen Matkins Leck Gamble Mallory & Natsis LLP
as their general bankruptcy and restructuring 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 the Chapter 11
Cases, including all of the legal and administrative requirements
of operating in chapter 11;

     c. advising the Debtors in connection with a restructuring of
their financial obligations, including 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 the Chapter 11
Cases, including motions, applications, answers, orders, reports,
and papers necessary or otherwise beneficial to the administration
of the Debtors' estates;

     f. representing the Debtors in connection with obtaining
authority to continue using cash collateral and procuring
postpetition financing, if necessary;

     g. advising the Debtors in connection with potential asset
sales;

     h. appearing before the Court and any appellate courts to
represent the interests of the Debtors' estates;

     i. advising the Debtors regarding tax matters;

     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;

     k. preparing organizational documents and other corporate
documents in connection with the Debtors' restructuring efforts;
and

     l. performing all other necessary legal services.

Allen Matkins's standard hourly rates are as follows:

     Partners               $700 - $1,500
     Counsel                $690 - $950
     Associates             $420 - $740
     Paraprofessionals      $355 - $450

Matthew Bouslog's current hourly rate is $750.

On Oct. 3, 2023, Allen Matkins received an advance payment of
$100,000, and on Nov. 13, the firm received another advance payment
of $30,000.

Matthew Bouslog, Esq., a partner in the law firm of Allen Matkins,
disclosed in a court filing that his firm is a "disinterested
person," as defined in Section 101(14) of the Bankruptcy Code.

The firm can be reached through:

     Matthew G. Bouslog, Esq.
     A. Kenneth Hennesay Jr., Esq.
     ALLEN MATKINS LECK GAMBLE
     MALLORY & NATSIS LLP
     2010 Main Street, 8th Floor
     Irvine, CA 92614
     Phone: (949) 553-1313
     Email: MBouslog@allenmatkins.com
            KHennesay@allenmatkins.com

           About Smart Earth Technologies LLC

Smart Earth Technologies LLC is a provider of utility management
solutions for water utilities. SET's customers are primarily
utility companies, many of which are owned and operated by
municipalities or other governmental bodies.

The Debtors sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Dela. Lead Case No. 23-11866) on
November 14, 2023. In the petition signed by Don Van der Wiel,
chief restructuring officer, Smart Earth disclosed up to $10
million in assets and up to $50 million in liabilities.

Judge Karen B. Owens oversees the case.

The Debtors tapped Gregory A. Taylor, Esq., at ASHBY & GEDDES,
P.A., as local bankruptcy counsel, Matthew G. Bouslog, Esq., at
ALLEN MATKINS LEEK GAMBLE MALLORY & NATSIS LLP, as bankruptcy
counsel, G2 CAPITAL ADVISORS, LLC as financial advisor, and
VERDOLINO & LOWEY, P.C. as accountant.


SMART EARTH: Seeks to Hire Ashby & Geddes as Delaware Counsel
-------------------------------------------------------------
Smart Earth Technologies LLC and Smart Water Services LLC seek
approval from the U.S. Bankruptcy Court for the District of
Delaware to employ Ashby & Geddes, P.A. as their Delaware
bankruptcy counsel.

The firm's services include:

     (a) advising the Debtor with respect to its powers and duties
as a debtor and debtor-in-possession in the continued management
and operation of its business and property;

     (b) performing all necessary services as the Debtor's
bankruptcy counsel, including, without limitation, preparing, or
assisting in the preparation of, all necessary documents on behalf
of the Debtor;

     (c) appearing at hearings before the Court on behalf of the
Debtor;

     (d) taking all necessary actions to protect and preserve the
Debtor's estate during the pendency of this Chapter 11 Case,
including prosecution of actions by the Debtor, the defense of any
action commenced against the Debtor and negotiations concerning all
litigation in which the Debtor is involved;

     (e) preparing and reviewing, on behalf of the Debtor, as a
debtor-in-possession, all necessary motions, applications, answers,
orders, reports and papers in connection with the administration of
this Chapter 11 Case for compliance with the rules and practices of
the Court;

     (f) advising and assisting the Debtor in connection with any
potential sale of all or substantially all of its assets pursuant
to section 363 of the Bankruptcy Code;

     (g) providing legal advice regarding the disclosure statement
and plan filed in this Chapter 11 Case and with respect to the
process for approving the disclosure statement and confirming the
plan; and

     (h) performing such other legal services that are desirable
and necessary for the efficient and economic administration of this
Chapter 11 Case.

The firm's hourly rates are as follows:

     Gregory A. Taylor Director      $700
     Anthony C. Dellose Paralegal    $300

     Partners                        $600 to $825
     Counsel and associates          $570 to $680
     Paralegals                      $300
     Legal secretaries               $275

Ashby & Geddes received two separates retainers in the amounts of
$50,000 on Oct. 23, 2023 and $20,000 on Nov. 13, 2023.

Gregory Taylor, Esq., a director of Ashby & Geddes, disclosed in a
court filing that his firm is a "disinterested person," as defined
in Section 101(14) of the Bankruptcy Code.

Ashby & Geddes can be reached at:

     Gregory A. Taylor, Esq.
     Ashby & Geddes, P.A.
     500 Delaware Ave.
     Wilmington, DE 19899
     Tel: (302) 654-1888
     Fax: (302) 654-2067
     Email: GTaylor@ashbygeddes.com

           About Smart Earth Technologies LLC

Smart Earth Technologies LLC is a provider of utility management
solutions for water utilities. SET's customers are primarily
utility companies, many of which are owned and operated by
municipalities or other governmental bodies.

The Debtors sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Dela. Lead Case No. 23-11866) on
November 14, 2023. In the petition signed by Don Van der Wiel,
chief restructuring officer, Smart Earth disclosed up to $10
million in assets and up to $50 million in liabilities.

Judge Karen B. Owens oversees the case.

The Debtors tapped Gregory A. Taylor, Esq., at ASHBY & GEDDES,
P.A., as local bankruptcy counsel, Matthew G. Bouslog, Esq., at
ALLEN MATKINS LEEK GAMBLE MALLORY & NATSIS LLP, as bankruptcy
counsel, G2 CAPITAL ADVISORS, LLC as financial advisor, and
VERDOLINO & LOWEY, P.C. as accountant.


SMART EARTH: Seeks to Hire Stretto Inc. as Administrative Advisor
-----------------------------------------------------------------
Smart Earth Technologies LLC and Smart Water Services LLC seek
approval from the U.S. Bankruptcy Court for the District of
Delaware to employ Stretto, Inc. as its as administrative advisor.

The firm will provide these services:

     a. assist with, among other things, solicitation, balloting
and tabulation of votes, and prepare any related reports in support
of confirmation of a Chapter 11 plan;

     b. prepare an official ballot certification and, if necessary,
testify in support of the ballot tabulation results;

     c. assist with the preparation of the Debtor's schedules of
assets and liabilities and statements of financial affairs and
gather data in conjunction therewith;

     d. provide a confidential data room;

     e. manage and coordinate any distributions pursuant to a
Chapter 11 plan if designated as distribution agent under such
plan; and

     f. provide claims analysis and reconciliation, case research,
depository management, treasury services, confidential online
workspaces or data rooms, and any related services otherwise
required by applicable law, governmental regulations, or court
rules or orders in connection with the Debtor's Chapter 11 case.

The firm received an advance retainer in the amount of $10,000.

Sheryl Betance, a senior managing director at Stretto, 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 through:

     Sheryl Betance
     Stretto, Inc.
     410 Exchange, Ste. 100
     Irvine, CA 92602
     Tel: (714) 716-1872
     Email: sheryl.betance@stretto.com

        About Smart Earth Technologies LLC

Smart Earth Technologies LLC is a provider of utility management
solutions for water utilities. SET's customers are primarily
utility companies, many of which are owned and operated by
municipalities or other governmental bodies.

The Debtors sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Dela. Lead Case No. 23-11866) on
November 14, 2023. In the petition signed by Don Van der Wiel,
chief restructuring officer, Smart Earth disclosed up to $10
million in assets and up to $50 million in liabilities.

Judge Karen B. Owens oversees the case.

The Debtors tapped Gregory A. Taylor, Esq., at ASHBY & GEDDES,
P.A., as local bankruptcy counsel, Matthew G. Bouslog, Esq., at
ALLEN MATKINS LEEK GAMBLE MALLORY & NATSIS LLP, as bankruptcy
counsel, G2 CAPITAL ADVISORS, LLC as financial advisor, and
VERDOLINO & LOWEY, P.C. as accountant.


SMART EARTH: Seeks to Hire Verdolino & Lowey as Accountant
----------------------------------------------------------
Smart Earth Technologies LLC and Smart Water Services LLC seek
approval from the U.S. Bankruptcy Court for the District of
Delaware to employ Verdolino & Lowey, P.C. as their accountant.

The services that the firm will provide include bookkeeping,
transaction accounting, and reporting, including the preparation of
financial documents as may be required throughout these cases.

The current hourly rate of Craig R. Jalbert is $540. The hourly
rates of staff to be assigned to the Debtors’ cases vary, but
range from $275 to $425 per hour.

The firm hold $18,443 as retainer fee.

Craig Jalbert,  principal of Verdolino & Lowey, assured the court
that his firm is a "disinterested person" within the meaning of
section 101(14) of the Bankruptcy Code, as required by section
327(a) of the Bankruptcy Code, and holds no interest materially
adverse to the Debtors or their estates.

The firm can be reached through:

     Craig R. Jalbert, CIRA
     Verdolino & Lowey, P.C.
     124 Washington Street
     Foxboro, MA 02035
     Phone: (508) 543-1720
     Email: cjalbert@vlpc.com

           About Smart Earth Technologies LLC

Smart Earth Technologies LLC is a provider of utility management
solutions for water utilities. SET's customers are primarily
utility companies, many of which are owned and operated by
municipalities or other governmental bodies.

The Debtors sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Dela. Lead Case No. 23-11866) on
November 14, 2023. In the petition signed by Don Van der Wiel,
chief restructuring officer, Smart Earth disclosed up to $10
million in assets and up to $50 million in liabilities.

Judge Karen B. Owens oversees the case.

The Debtors tapped Gregory A. Taylor, Esq., at ASHBY & GEDDES,
P.A., as local bankruptcy counsel, Matthew G. Bouslog, Esq., at
ALLEN MATKINS LEEK GAMBLE MALLORY & NATSIS LLP, as bankruptcy
counsel, G2 CAPITAL ADVISORS, LLC as financial advisor, and
VERDOLINO & LOWEY, P.C. as accountant.


SMART EARTH: Taps Donald Van der Wiel of G2 Capital as CRO
----------------------------------------------------------
Smart Earth Technologies LLC and Smart Water Services LLC seek
approval from the U.S. Bankruptcy Court for the District of
Delaware to employ G2 Capital Advisors, LLC and designate Donald
Van der Wiel as its chief restructuring officer.

The firm's services include:

     (a) analyzing the business, operational and financial
condition of the Debtors;

     (b) assisting the Debtors with managing short term liquidity,
including the preparation of a 13-week cash flow forecast and
monitoring short term liquidity;

     (c) assisting the Debtors with preparing financial analyses;

     (d) evaluating strategic alternatives;

     (e) assisting the Debtors with the preparation of data in
order to prepare pleadings and fiduciary filings required in the
event the Debtors determine to commence a bankruptcy proceeding,
including a cash collateral budget;

     (f) providing testimony on such matters that are within G2's
expertise;

     (g) executing restructuring initiatives, including structuring
plans of reorganization, selling all or parts of the Debtors'
assets, including any marketing thereof and executing a wind-down
of the Debtors' operation or otherwise liquidating assets;

     (h) assisting the Debtors and their counsel in negotiations
with various parties-in-interest; and

     (i) supporting the Debtors in such matters as the Board of
Directors of the Debtors shall request or require from time to
time.

The Debtors provided G2 retainers in the aggregate amount of
approximately $100,000.

The firm will bill these hourly rates:

     Senior Managing Director        $895
     Managing Director/CRO           $845
     Director                        $745
     Vice President/Principal        $595
     Senior Associate                $495
     Associate                       $395
     Senior Analyst/Analyst          $345
     Admin                           $195

Donald Van der Wiel, a managing director of G2, disclosed in a
court filing that the firm is a "disinterested person" pursuant to
Section 101(14) of the Bankruptcy Code.

The firm can be reached through:

     Donald Van der Wiel
     G2 Capital Advisors, LLC
     420 Boylston St., Suite 302
     Boston, MA 02116
     Phone: (617) 918-7928
     Email: dvanderwiel@g2cap.com

        About Smart Earth Technologies LLC

Smart Earth Technologies LLC is a provider of utility management
solutions for water utilities. SET's customers are primarily
utility companies, many of which are owned and operated by
municipalities or other governmental bodies.

The Debtors sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Dela. Lead Case No. 23-11866) on
November 14, 2023. In the petition signed by Don Van der Wiel,
chief restructuring officer, Smart Earth disclosed up to $10
million in assets and up to $50 million in liabilities.

Judge Karen B. Owens oversees the case.

The Debtors tapped Gregory A. Taylor, Esq., at ASHBY & GEDDES,
P.A., as local bankruptcy counsel, Matthew G. Bouslog, Esq., at
ALLEN MATKINS LEEK GAMBLE MALLORY & NATSIS LLP, as bankruptcy
counsel, G2 CAPITAL ADVISORS, LLC as financial advisor, and
VERDOLINO & LOWEY, P.C. as accountant.


SPROUT MORTGAGE: Trustee Hires Alvarez as Financial Advisor
-----------------------------------------------------------
Allan B. Mendelsohn, the operating trustee for Sprout Mortgage LLC,
seeks approval from the U.S. Bankruptcy Court for the Eastern
District of New York to employ Alvarez & Marsal North America, LLC
as financial advisor.

The firm's services include:

   a. assisting with the investigation into the Debtor's business
dealings and transactions;

   b. assisting in the evaluation and analysis of avoidance and
other causes of actions, including fraudulent conveyances,
preferential transfers, and third-party liability claims;

   c. providing litigation advisory services with respect to causes
of actions brought by the Trustee, including expert witness
testimony; and

   d. rendering such other general business consulting or other
assistance as Trustee or counsel may deem necessary consistent with
the role of a financial advisor to the extent that it would not be
duplicative of services provided by other professionals in the
bankruptcy case.

The firm will be paid at these rates:

     Managing Directors      $1,025 to $1,375 per hour
     Directors               $775 to $975 per hour
     Analysts/Associates     $425 to $775 per hour

The firm will also be reimbursed for reasonable out-of-pocket
expenses incurred.

Michael Leto, a managing director at Alvarez & Marsal North,
disclosed in a court filing that his firm is a "disinterested
person" as the term is defined in Section 101(14) of the Bankruptcy
Code.

The firm can be reached at:

     Michael S. Leto
     Alvarez & Marsal North America, LLC
     600 Madison Avenue
     New York, NY 10022
     Tel: (212) 759-4433
     Email: mleto@alvarezandmarsal.com

              About Sprout Mortgage LLC

Sprout Mortgage LLC filed its voluntary petition for relief under
Chapter 11 of the Bankruptcy Code (Bankr. E.D.N.Y. Case No.
23-72433) on July 5, 2023.

Judge Robert E Grossman oversees the case.

Avrum J Rosen, Esq. at the Law Offices Of Avrum J. Rosen, PLLC
represents the Debtor as counsel.


SUMMIT SPRINGS: Seeks to Hire Chouhan Law Firm as Special Counsel
-----------------------------------------------------------------
Summit Springs Holdings, LLC seeks approval from the U.S.
Bankruptcy Court for the Northern District of Georgia to hire The
Chouhan Law Firm, LLC as its special counsel.

The firm will render these services:

     a  advise and represent the Debtor with respect to its rights
and obligations in accordance with applicable law;

     b. prepare necessary pleadings, motions, reports, order and
other papers in connection with the State Court Action and Proposed
Causes of Action and conduct examinations as necessary;

     c. represent the Debtors in negotiations with parties; and

     d. perform other legal services.

The firm will charge $375 per hour for services rendered by
attorneys.

The firm requested a retainer fee of $20,000.

Toqeer Chouhan, Esq., founding partner at Chouhan Law, disclosed in
a court filing that his firm is a "disinterested person" as the
term is defined in Section 101(14) of the Bankruptcy Code.

The firm can be reached through:

     Toqeer A. Chouhan, Esq.
     Chouhan Law Firm LLC
     100 Galleria Parkway, Suite 1010
     Atlanta, GA 30339
     Phone: (678) 408-7231
     Email: info@chouhanlaw.com

                 About Summit Springs Holdings

Summit Springs Holdings, LLC owns six acres of to-be-developed 21
townhome units located at 208 Sandy Springs Place, Sandy Springs,
Ga. The properties are valued at $4.4 million.

Summit Springs Holdings filed its voluntary petition for relief
under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Ga. Case No.
23-54043) on May 1, 2023, with $4,470,000 in assets and $2,623,041
in liabilities. Eric McConaghy, manager, signed the petition.

Judge Wendy L. Hagenau oversees the case.

The Debtor tapped Ian M. Falcone, Esq., at The Falcone Law Firm,
P.C. as bankruptcy counsel and Stogner Law, LLC as special counsel.


SUNLIGHT FINANCIAL: Emerges From Restructuring Process
------------------------------------------------------
Sunlight Financial Holdings Inc. announced on December 7, 2023,
that it has successfully completed its Chapter 11 restructuring
process and has emerged as a stronger company with a clear vision
for the future.

Sunlight's acquisition by a consortium of established investors in
the solar energy industry, including an affiliate of Greenbacker
Capital Management, Sunstone Credit, IGS Ventures, and others
(collectively, "ED Umbrella Holdings, LLC" or "the Consortium"), as
well as its secured lender, Cross River Bank ("CRB"), is also now
complete. The Consortium and CRB now own shares of capital stock
representing 100% of the ownership of the Company.

Benjamin Baker, Managing Director of Greenbacker, said, "As
long-term investors in the solar energy space, the members of the
Consortium understand the value and impact Sunlight brings to our
industry. We're excited for the future of Sunlight and look forward
to expanding the company's work with its installer partners to
ensure they can secure quick and efficient loans for their solar
and home improvement customers.

"I am proud of everything Sunlight has accomplished so far and
believe wholeheartedly in its future," commented Josh Goldberg,
Sunstone Credit Co-Founder and CEO. "And, on a personal note, I'm
thrilled to be back with the Company and appreciate the opportunity
to help foster its growth in this new era."

Sunstone Credit, one of the members of the Consortium, was
co-founded by Josh Goldberg and Wilson Chang, who also were among
the co-founders of Sunlight in 2014.

In addition to the new ownership structure, the emergence allowed
Sunlight to recapitalize. With the new capital, the Company will
soon announce several initiatives to help installers sell more
solar, including a price reduction on higher coupon loans; faster
loan review and approval times; more time for homeowners to make
their first loan payments; and a new Sunlight Rewards campaign for
sales representatives.

               About Sunlight Financial Holdings

Sunlight Financial Holdings Inc. operates a
business-to-business-to-consumer, technology-enabled point-of-sale
financing platform. The Company provides solar and home improvement
contractors across the United States with the ability to offer
homeowners loans funded by the Company's capital providers. The
Company uses proprietary technology and deep credit expertise to
simplify the financing process for contractors and installers,
capital providers, and homeowners, successfully helping over
125,000 homeowners install residential solar systems, reduce their
carbon footprint, and save money.

Sunlight Financial Holdings Inc. and its affiliates sought relief
under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Lead
Case No. 23-11794) on Oct. 30, 2023. In the petition filed by
Matthew R. Potere, as chief executive officer, the Debtor reported
total assets as of Aug. 31, 2023 amounting to $403,848,901 and
total debt of $173,943,096.

The Debtors tapped Weil, Gotshal & Manges, LLP as bankruptcy
counsel; Richards, Layton & Finger, P.A., as local counsel; Alvarez
& Marsal North America, LLC, as financial advisor; and Guggenheim
Partners, LLC, as investment banker. Omni Agent Solutions, Inc. is
the claims agent.


SUPOR PROPERTIES: Trustee Taps Sharer Petree Brotz as Accountant
----------------------------------------------------------------
Andrea Dobin, Chapter 11 Trustee of Supor Properties Bergen Avenue,
LLC, seeks approval from the U.S. Bankruptcy Court for the District
of New Jersey to hire Sharer Petree Brotz & Snyder  as her
accountant.

The firm will assist the Trustee as she liquidates value assets of
the Estate and investigates the financial history of this debtor
and estimate the tax implications of recovery for creditors.

The hourly rates charged by the firm are:

     Partners             $340 - $425
     Manager              $285 - $300
     Senior Associate     $210 - $265
     Junior Associate      $80 - $175

Robert Snyder, Jr., a certified public accountant employed with
Sharer Petree, disclosed in a court filing that his firm is
"disinterested" as defined in Section 101(14) of the Bankruptcy
Code.

The firm can be reached through:

     Robert N. Snyder, Jr.
     Sharer Petree Brotz & Snyder
     1103 Laurel Oak Road, Suite 105B
     Voorhees, NJ 08043
     Phone: (856) 435-3200

                    About Supor Properties

Supor Properties Bergen Avenue LLC is in the business of a
multifaceted, unique technical industrial support facility provider
in addition to its real estate, landlord business.

The Debtor filed Chapter 11 Petition (Bankr. D.N.J. Case No.
23-15758) on July 5, 2023, with $0 to $50,000 in assets and $10
million to $50 million in liabilities. Joseph Supor III,
authorized
member, co-trustee of Marital Trust, signed the petition.

Jay Meyers, Esq. of J. MEYERS PLLC represents the Debtor as legal
counsel.


SWF HOLDINGS I: Moody's Lowers CFR to Caa1, Outlook Negative
------------------------------------------------------------
Moody's Investors Service downgraded the ratings of SWF Holdings I
Corp.'s (Springs Windows) including its Corporate Family Rating to
Caa1 from B3, its Probability of Default Rating to Caa1-PD from
B3-PD, the ratings on the company's first lien bank credit
facilities to B3 from B2, and the rating on the company's $625
million senior unsecured notes due 2029 to Caa3 from Caa2. The
first lien facilities consist of a $125 million first lien revolver
due 2026 and a $1,625 million original principal amount first lien
term loan due 2028. The outlook is negative.

"The rating downgrades and negative outlook reflects Springs
Windows' ongoing margin pressures combined with it's very high
financial leverage and high interest burden that results in
negative free cash flow and an unsustainable capital structure at
current earnings level," said Oliver Alcantara, Vice President –
Senior Analyst at Moody's. "Declining volumes and weakening demand
trends will make it challenging to meaningfully improve revenue,
the profit margin and cash flows over the next 12 months."

Springs Windows' financial leverage is very high with debt/EBITDA
at 11.3x as of the last 12 months (LTM) period ending September 30,
2023, up from 9.1x at the end of fiscal 2022. Weakening economic
conditions and weaker housing market trends due to rising borrowing
costs are negatively affecting consumer demand for the company's
products. At the same time, higher input costs are negatively
affecting the company's profitability, including higher domestic
freight costs and the higher labor costs in its Mexico operations.
In addition, unfavorable foreign exchange is meaningfully and
negatively impacting Springs Windows' operating results and debt
service ability since debt is all denominated in US dollars. As a
result of these operating challenges, Springs Windows'
company-adjusted EBITDA margin declined 260 percentage basis points
in 3Q-2023 year-over-year, and declined sequentially 80 percentage
basis points versus 2Q-2023. In addition, sizable charges the
company add backs to company-adjusted EBITDA but a portion
represent cash outlays are pressuring free cash flow generation.

The company expects ongoing pricing and cost saving initiatives, as
well as new product launches, will help mitigate the profitability
pressures, and lower EBITDA addbacks should improve operating cash
generation over the next 12 months.  However, Moody's views the
company's capital structure as unsustainable at the current
earnings level and the company will need to improve profitability
towards historical levels to restore positive free cash flow and to
sustain debt service. There is uncertainty around the company's
ability to successfully and timely mitigate ongoing cost pressures
to improve the profit margin, and Moody's expects consumer demand
for the company's products to continue to be pressured by weakening
economic conditions or consumers trading down to lower priced
products.

RATINGS RATIONALE

Springs Window's Caa1 CFR broadly reflects its high financial
leverage with debt/EBITDA at over 11x for the last 12 months period
(LTM) ending September 30, 2023. The company is exposed to cyclical
downturns given the discretionary nature of its products. Weakening
economic conditions and weaker housing market trends due to rising
borrowing costs are negatively affecting consumer demand for the
company's products. In addition, cost and labor inflation are
negatively affecting profitability. Moody's expects these pressures
to persist over the next 12 months. Because of its high financial
leverage with higher borrowing costs, Springs Windows needs to
improve the EBITDA margin towards the levels of recent years of
over 20% to restore positive free cash flows on an annual basis.
The company has customer concentration with two national retailers
accounting for approximately a quarter of revenue, and its direct
competitor is considerably larger with global scale, which creates
the potential for market share volatility.

The credit profile also reflects Springs Window's strong position
in the window coverings market, good channel diversification, and
its long-standing relationships with well-recognized retailers. The
company's Mexico manufacturing footprint and its ability to quickly
deliver fully customized orders are a competitive advantage over
smaller industry participants. Springs Windows' adequate liquidity
is supported good availability of approximately $170 million as of
September 30, 2023 on the combined $275 million revolving
facilities due 2026. The liquidity provides some capacity to manage
a short-lived demand slowdown.

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

The negative outlook reflects the concerns about Springs Windows'
ability to improve its profitability, free cash flow generation and
leverage position amid ongoing demand headwinds and cost
inflation.

The ratings could be upgraded if the company increases its revenue,
improves the EBITDA margin with lower cash charges, and
demonstrates sustainable positive free cash flows that comfortably
supports its capital structure. A ratings upgrade would also
require Springs Windows to maintain at least adequate liquidity
supported by cash flow and ample revolver availability.

The ratings could be downgraded if revenue continues to decline,
the company is unable to improve the EBITDA margin towards
historical levels, or free cash flow remains weak or negative. The
ratings could also be downgraded if liquidity deteriorates for any
reason, including higher reliance on revolver borrowings, or if the
company completes a debt-financed acquisition or shareholder
distribution.

Springs Windows' ESG credit impact score CIS-4, indicates the
company's rating is lower than it would have been if ESG exposure
did not exist. The score is mainly driven by the company's
concentrated decision making under majority ownership by financial
sponsors and its aggressive financial strategy including operating
with high leverage. The company has some exposure to environmental
and social risks though these have lesser influence on the CIS
score.

Headquartered in Middleton, Wisconsin, Springs Windows designs and
manufactures window coverings. Following the October 2021 $3.4
billion leveraged buyout transaction, the company is owned by
Clearlake Capital Group, L.P. (Clearlake). The company reported
revenue of around $1.2 billion for the last twelve months period
ending September 30, 2023.

The principal methodology used in these ratings was Consumer
Durables published in September 2021.


SYSTEM1 INC: BGPT Trebia, 2 Others Hold 6.8% of Class A Shares
--------------------------------------------------------------
In a Schedule 13D/A filed with the Securities and Exchange
Commission, the following entities reported beneficial ownership of
shares of Class A common stock of System1, Inc. as of Dec. 4,
2023:

                                      Shares       Percent
                                    Beneficially     of
  Reporting Person                     Owned        Class

  BGPT Trebia LP                      4,450,879      6.8%
  Bridgeport Partners GP, LLC         4,450,879      6.8%
  Frank R. Martire, Jr.               4,523,089      6.9%
  Frank Martire, III                  4,450,879      6.8%

The beneficial ownership is based on 65,653,118 shares of Class A
common stock outstanding as of Dec. 5, 2023 (such outstanding
shares based on information provided to the Reporting Person by the
Issuer on Dec. 5, 2023).

A full-text copy of the regulatory filing is available for free
at:

https://www.sec.gov/Archives/edgar/data/1805833/000114036123056509/ef20016149_sc13da.htm

                          About System1

Headquartered in Marina Del Rey, CA, System1, Inc. operates an
omnichannel customer acquisition platform, delivering high-intent
customers to advertisers and marketing antivirus software packages
to end user customers.

Los Angeles, California-based PricewaterhouseCoopers LLP, the
Company's auditor since 2020, issued a "going concern"
qualification in its report dated June 5, 2023, citing that the
Company has violated a covenant which resulted in the outstanding
principal balances under the Company's Term Loan and Revolving
Facility with Bank of America being callable at the request of, or
with the consent of, the required majority lenders and has
insufficient liquidity to settle the outstanding principal balances
of the Term Loan and Revolving Facility that raise substantial
doubt about its ability to continue as a going concern.


SYSTEM1 INC: Cannae Holdings Holds 41.1% of Class A Shares
----------------------------------------------------------
In a Schedule 13D/A filed with the Securities and Exchange
Commission, Cannae Holdings, Inc. and Cannae Holdings, LLC
disclosed that as of Dec. 4, 2023, they beneficially owned
27,012,794 shares of Class A common stock of System1, Inc.,
representing 41.1 percent based on 65,653,118 shares of Class A
common stock outstanding as of Dec. 4, 2023, as provided to the
Reporting Persons by the Issuer.

On Dec. 4, 2023 the Issuer filed a Form 8-K in connection with its
sale of Total Security Limited and reported a decrease in its total
Class A common stock outstanding by 29.1 million shares.  As a
result, the Reporting Persons ownership changed by more than one
percent from its ownership reported in Amendment No. 4.

A full-text copy of the regulatory filing is available for free
at:

https://www.sec.gov/Archives/edgar/data/1805833/000170472023000115/cnne-sstschedule13dadec2023.htm

                             About System1

Headquartered in Marina Del Rey, CA, System1, Inc. operates an
omnichannel customer acquisition platform, delivering high-intent
customers to advertisers and marketing antivirus software packages
to end user customers.

Los Angeles, California-based PricewaterhouseCoopers LLP, the
Company's auditor since 2020, issued a "going concern"
qualification in its report dated June 5, 2023, citing that the
Company has violated a covenant which resulted in the outstanding
principal balances under the Company's Term Loan and Revolving
Facility with Bank of America being callable at the request of, or
with the consent of, the required majority lenders and has
insufficient liquidity to settle the outstanding principal balances
of the Term Loan and Revolving Facility that raise substantial
doubt about its ability to continue as a going concern.


SYSTEM1 INC: William Foley II Holds 5.9% of Class A Shares
----------------------------------------------------------
William P. Foley II disclosed in a Schedule 13G filed with the
Securities and Exchange Commission that as of Dec. 4, 2023, he
beneficially owned 3,904,734 shares of Class A common stock of
System1, Inc., representing 5.9 percent of the Shares outstanding
(based on 65,653,118 shares of Class A Common Stock outstanding as
reported to the Reporting Persons by the Issuer).

Trasimene Trebia, LLC also reported beneficially ownership of
53,360 Class A Shares of the Company.  TT is a Delaware limited
liability company and Mr. Foley is the sole member and manager and
executive chairman of TT.

This filing on Schedule 13G is being made solely because a decrease
in the outstanding Class A Common Stock of the Issuer reported in a
Form 8-K filed by the Issuer on Dec. 4, 2023 resulted in the
Reporting Persons' beneficial ownership of the Class A Common Stock
of the Issuer to exceed five percent of the Issuer's outstanding
Class A Common Stock.

A full-text copy of the regulatory filing is available for free
at:

https://www.sec.gov/Archives/edgar/data/1805833/000090321323000011/wpf-sstschedule13gdec2023.htm

                            About System1

Headquartered in Marina Del Rey, CA, System1, Inc. operates an
omnichannel customer acquisition platform, delivering high-intent
customers to advertisers and marketing antivirus software packages
to end user customers.

Los Angeles, California-based PricewaterhouseCoopers LLP, the
Company's auditor since 2020, issued a "going concern"
qualification in its report dated June 5, 2023, citing that the
Company has violated a covenant which resulted in the outstanding
principal balances under the Company's Term Loan and Revolving
Facility with Bank of America being callable at the request of, or
with the consent of, the required majority lenders and has
insufficient liquidity to settle the outstanding principal balances
of the Term Loan and Revolving Facility that raise substantial
doubt about its ability to continue as a going concern.


TERRESTRIAL BREWING: Seeks to Hire Jonathan Blakely as Attorney
---------------------------------------------------------------
Terrestrial Brewing Company, LLC seeks approval from the U.S.
Bankruptcy Court for the Northern District of Ohio to employ
Jonathan Blakely, Esq., an attorney practicing in Middlefield,
Ohio, to handle its Chapter 11 case.

Mr. Blakely will render these legal services:

     (a) advise the Debtor regarding its rights, powers and duties
in its bankruptcy case;

     (b) assist the Debtor in the preparation of bankruptcy
schedules and statement of financial affairs;

     (c) assist the Debtor in connection with the administration of
its case;

     (d) analyze the claims of creditors and negotiate with such
creditors;

     (e) investigate the acts, conduct, assets, rights, liabilities
and financial condition of the Debtor and its business;

     (f) advise and negotiate with respect to the sale of the
Debtor's assets;

     (g) investigate, file and prosecute litigation on behalf of
the Debtor;

     (h) propose a plan of reorganization;

     (i) appear and represent the Debtor at hearings, conferences
and other proceedings;

     (j) prepare or review motions, applications, orders; and

     (l) perform other legal services necessary to administer the
case.

Mr. Blakely will be billed at his hourly rate of $250, plus
reimbursement for out-of-pocket expenses incurred.

The attorney received a retainer of $5,262, plus the filing fee, on
Nov. 30, 2023.

Mr. Blakely disclosed in a court filing that he is a "disinterested
person" within the meaning of Section 101(14) of the Bankruptcy
Code.

The attorney can be reached at:

     Jonathan P. Blakely, Esq.
     P.O. Box 217
     Middlefield, OH 44062
     Telephone: (440) 339-1201
     Facsimile: (440) 632-9091
     Email: jblakelylaw@windstream.net

           Terrestrial Brewing Company

Terrestrial Brewing owns and operates a brewery located in the
Battery Park neighborhood of Cleveland, Ohio.  The Taproom houses
an American-made, five barrel brewhouse from Portland Kettle
Works.

Terrestrial Brewing Company, LLC filed its voluntary petition for
relief under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Ohio
Case No. 23-14226) on December 1, 2023. The petition was signed by
Ryan G. Bennett as president. At the time of filing, the Debtor
estimated up to $50,000 in assets and $1 million to $10 million in
liabilities.

Judge Suzana Krstevski Koch presides over the case.

Jonathan P. Blakely, Esq. represents the Debtor as counsel.


THOMAS ORTHODONTICS: William Wallo Named Subchapter V Trustee
-------------------------------------------------------------
The U.S. Trustee for Region 11 appointed William Wallo of Bakke
Norman, S.C. as Subchapter V trustee for Thomas Orthodontics, S.C.

Mr. Wallo will be paid an hourly fee of $375 for his services as
Subchapter V trustee while his legal assistant, Ann Clarkson, will
be compensated at $150 per hour. In addition, the Subchapter V
trustee will receive reimbursement for work-related expenses
incurred.

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

The Subchapter V trustee can be reached at:

     William E. Wallo, Esq.
     Bakke Norman, S.C.
     7 South Dewey Street, Suite 220
     Eau Claire, WI 54701
     Phone: (715) 514-4258/(715) 231-8024
     Email: wwallo@bakkenorman.com

                  About Thomas Orthodontics S.C.

Thomas Orthodontics, S.C. operates an orthodontics practice at two
offices in Hartford and Menomonee Falls.

The Debtor filed a petition under Chapter 11, Subchapter V of the
Bankruptcy Code (Bankr. E.D. Wis. Case No. 23-25432) on Nov. 17,
2023, with up to $500,000 in assets and up to $10 million in
liabilities. Jess Thomas, owner, signed the petition.

Judge Rachel M. Blise oversees the case.

Evan P. Schmit, Esq., at Kerkman & Dunn, represents the Debtor as
legal counsel.


TRAVEL + LEISURE: S&P Assigns 'BB-' Rating on Secured Term Loan B
-----------------------------------------------------------------
S&P Global Ratings assigned its 'BB-' rating and '4' recovery
rating to Travel + Leisure Co.'s (T+L; BB-/Stable/--) proposed
incremental senior secured term loan B (TLB) due 2029. The '4'
recovery rating on the TLB reflects S&P's expectation for average
(30%-50%; rounded estimate: 45%) recovery for lenders in the event
of a default. The company intends to issue a $300 million TLB and
use the proceeds to repay its $300 million 5.650% senior secured
notes outstanding due 2024.

S&P views this transaction to be leverage-neutral and in line with
its published base-case forecast on T+L.

ISSUE RATINGS—RECOVERY ANALYSIS

Key analytical factors

-- T+L's $1.6 billion senior secured credit facility consists of a
revolver with $1 billion capacity, the $300 million term loan due
2025 that has $284 million outstanding, and an approximately $598
million TLB outstanding, due 2029 (inclusive of the proposed $300
million incremental TLB). S&P's 'BB-' rating and '4' recovery
rating on this facility reflect its expectation for average
(30%-50%; rounded estimate: 45%) recovery for lenders in the event
of a default.

-- S&P's simulated default scenario contemplates a payment default
in 2027, reflecting the loss of key exclusivity contracts in the
exchange business with timeshare operators and management contracts
with homeowner associations, an overall decline in the popularity
of timeshares as a vacation alternative, a severe economic downturn
and tightening of consumer credit markets, and illiquidity in the
financial markets for timeshare securitizations and conduit
facilities. S&P assumes a reorganization following default, using
an emergence EBITDA multiple of 6.5x to value the company.

-- S&P incorporates its standard assumption that the revolver is
85% drawn for the purposes of its hypothetical default scenario and
this recovery analysis.

Simulated default assumptions

-- Emergence EBITDA: $329 million
-- EBITDA multiple: 6.5x
-- Revolving corporate credit facility: 85% drawn at default

Simplified waterfall

-- Emergence EBITDA: $329 million

-- EBITDA multiple: 6.5x

-- Gross recovery value: $2.14 billion

-- Net recovery value for waterfall after 5% administrative
expenses: $2.03 billion

-- Obligor/nonobligor valuation split: 100%/0%

-- Total value available for senior secured debt: $2.03 billion

-- Estimated senior secured debt claim: $4.23 billion

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

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




TRINITY PLACE: Macquarie PF Extends Forbearance Period to Dec. 20
-----------------------------------------------------------------
Trinity Place Holdings Inc. disclosed in a Form 8-K report filed
with the Securities and Exchange Commission that on December 1,
2023, the Company entered into an eighth amendment to the Credit
Agreement, dated as of December 19, 2019, by and between the
Company, as borrower, certain subsidiaries of the Company as
guarantors, and TPHS Lender LLC, as the initial lender and as the
administrative agent, which provided among other things for the
provision of incremental term loan advances under the CCF for
$750,000, with the first $375,000 being provided upon execution of
the CCF Amendment and the second $375,000 to be provided upon and
subject to board approval of definitive agreements in respect of
certain proposed transactions with the CCF Lender and/or its
affiliates, on the terms set forth in a non-binding term sheet and
the filing of preliminary materials with the Securities and
Exchange Commission for the solicitation of the vote or consent of
the Company's stockholders, if required. The CCF Amendment also
amends the Company's forbearance agreement with the CCF Lender with
respect to certain additional defaults in respect of which the CCF
Lender is forbearing. The terms of such forbearance agreement are
otherwise unchanged.

On September 6, 2023, Trinity Place Holdings Inc. and its
subsidiary borrower under the Master Loan Agreement, dated October
22, 2021, by and between the Mortgage Borrower and Macquarie PF
Inc., as the lender and administrative agent, entered into a
forbearance agreement effective as of September 1, 2023. Pursuant
to the Agreement, among other things, the Mortgage Lender agreed to
forbear from exercising its rights and remedies during the
Forbearance Period, with respect to any failure by the Mortgage
Borrower to make payments under the Mortgage Loan Agreement,
including, without limitation, interest payments due on September
1, 2023, and principal and interest payments due at maturity, and
achieve any Milestone Construction Hurdles or to satisfy the
Quarterly Sales Hurdle or make the related prepayment as and when
required, until the earliest of November 15 and the occurrence of
certain other specified events. The Forbearance Period terminated
following the terms of the Forbearance Agreement.

On November 28, 2023, the Company, Mortgage Borrower and Mortgage
Lender entered into an agreement pursuant to which, among other
things, the Mortgage Lender agreed to reinstate the Forbearance
Period effective as of November 15 and extend the Forbearance
Period to December 20, as such date may be further extended by the
Mortgage Lender in its sole discretion by written notice to the
Mortgage Borrower. In connection with certain of the Proposed
Transaction, the parties also agreed to non-binding terms which
contemplate certain amendments to the Mortgage Loan Agreement,
including among others, an extension of the maturity date by two
years, subject to an extension by an additional one-year period if
certain conditions are satisfied.

The Company continues to explore strategic and financing
alternatives.  There can be no assurance that any such
transactions, including the Proposed Transactions, will be entered
into or consummated before the Forbearance Period expires, and that
the Mortgage Lender will not exercise its rights and remedies,
including seeking to foreclose on the 77 Greenwich property and
assets securing the loan, among other remedies, or before the
forbearance periods under the previously disclosed forbearance
agreements with the CCF Lender and lender under the Company's
mezzanine loan expire, and that the lenders thereunder will not
exercise their respective rights and remedies. Any definitive
agreements if entered into would be subject to conditions to
closing, including stockholder approval if applicable, and there is
no assurance that such transactions would be consummated on terms
or a timeframe acceptable to the Company or at all. Even if a
strategic transaction and/or other transaction(s) are entered into,
the benefits to stockholders, if any, of such transactions are
uncertain. There can also be no assurance that the Company will be
able to obtain additional forbearance from the Mortgage Lender or
the other lenders or complete a restructuring or refinancing and/or
obtain an acceptable waiver or amendment under all or any of the
facilities on terms acceptable to the Company, or at all, or that
the Company's cash position will extend through the date on which
forbearance terminates.

                About Trinity Place Holdings Inc.

New York-based Trinity Place Holdings Inc. is a real estate
holding, investment, development, and asset management company. The
Company's largest asset is a property located at 77 Greenwich
Street in Lower Manhattan, which is substantially complete as a
mixed-use project consisting of a 90-unit residential condominium
tower, retail space, and a New York City elementary school. The
Company owns a 105-unit, 12-story multifamily property located at
237 11th Street in Brooklyn, New York, as well as a property
occupied by a retail tenant in Paramus, New Jersey.

The Company also controls a variety of intellectual property assets
focused on the consumer sector, a legacy of its predecessor, Syms
Corp., including FilenesBasement.com, its rights to the Stanley
Blacker brand, as well as the intellectual property associated with
the Running of the Brides event and An Educated Consumer is Our
Best Customer slogan. The Company also had approximately $305.4
million of federal net operating loss carryforward at September 30,
2023, as well as various state and local NOLs, which can be used to
reduce its future taxable income and capital gains.


TRINITY PLACE: Non-Compliant with NYSE's Listing Standards
----------------------------------------------------------
Trinity Place Holdings Inc. disclosed in a Form 8-K Report filed
with the Securities and Exchange Commission that on November 29,
2023, the Company received a deficiency letter from the NYSE
American LLC, advising the Company that it is not in compliance
with the NYSE American continued listing standards set forth in
Sections 1003(a)(i) and (ii) of the NYSE American Company Guide.
Section 1003(a)(i) of the Guide requires a listed company's
stockholders' equity to be at least $2 million if it has reported
losses from continuing operations and/or net losses in two of its
three most recent fiscal years. Section 1003(a)(ii) of the Guide
requires a listed company's stockholders' equity to be at least $4
million if it has reported losses from continuing operations and/or
net losses in three of its four most recent fiscal years. The
Deficiency Letter noted that the Company reported a stockholders'
deficit of $(1.2) million as of September 30, 2023, and losses from
continuing operations and/or net losses in three of its four most
recent fiscal years ended December 31, 2022.

In order to maintain the Company's listing on the NYSE American,
the NYSE American has requested that the Company submit a plan of
compliance by December 29, 2023, advising of actions it has taken
or will take to regain compliance with Section 1003(a)(i) and (ii)
of the Guide by May 29, 2025.

The Company's management has begun its analysis regarding
submission of the Plan to the NYSE American by the December 29,
2023 deadline. If the NYSE American accepts the Company's Plan, the
Company will have an 18-month cure period to comply with the Plan
and be able to continue its listing during such period and will be
subject to continued periodic review by the NYSE American staff. If
the Plan is not submitted, or not accepted, or is accepted, but the
Company does not make progress consistent with the Plan during the
Plan period, the Company will be subject to delisting procedures as
set forth in the Guide.

The Company intends to consider available options to regain
compliance with the stockholders' equity requirement. No decisions
have been made at this time, although certain transactions under
consideration by the parties may position the Company to submit a
Plan and, if consummated, meet the listing standards. There can be
no assurance that the Company will be able to achieve compliance
with the NYSE American's continued listing standards within the
required time frames.

The Deficiency Letter has no immediate impact on the listing of the
Company's shares of common stock, which will continue to be listed
and traded on the NYSE American during this period, subject to the
Company's compliance with the other listing requirements of the
NYSE American. The Common Stock will continue to trade under the
symbol "TPHS", but will have an added designation of ".BC" to
indicate the status of the Common Stock as "below compliance". The
Deficiency Letter does not affect the Company's ongoing business
operations or its reporting requirements with the SEC.

If the Common Stock ultimately were to be delisted for any reason,
it could negatively impact the Company and its stockholders by (i)
reducing the liquidity and market price of the Company's Common
Stock; (ii) reducing the number of investors willing to hold or
acquire the Common Stock, which in turn could potentially
negatively impact the Company's ability to raise equity financing;
and (iii) limiting the Company's ability to use a registration
statement to offer and sell freely tradable securities, thereby
preventing the Company from accessing the public capital markets;
and/or (iv) impairing the Company's ability to provide equity
incentives to its employees.

A full-text copy of the Company's report filed on Form 8-K with the
Securities and Exchange Commission is available at
http://tinyurl.com/bdhekaxm

                About Trinity Place Holdings Inc.

New York-based Trinity Place Holdings Inc. is a real estate
holding, investment, development, and asset management company. The
Company's largest asset is a property located at 77 Greenwich
Street in Lower Manhattan, which is substantially complete as a
mixed-use project consisting of a 90-unit residential condominium
tower, retail space, and a New York City elementary school. The
Company owns a 105-unit, 12-story multifamily property located at
237 11th Street in Brooklyn, New York, as well as a property
occupied by a retail tenant in Paramus, New Jersey.

The Company also controls a variety of intellectual property assets
focused on the consumer sector, a legacy of its predecessor, Syms
Corp., including FilenesBasement.com, its rights to the Stanley
Blacker brand, as well as the intellectual property associated with
the Running of the Brides event and An Educated Consumer is Our
Best Customer slogan. The Company also had approximately $305.4
million of federal net operating loss carryforward at September 30,
2023, as well as various state and local NOLs, which can be used to
reduce its future taxable income and capital gains.


UNIVERSITY SQUARE: Court OKs $185,000 DIP Loan from UMB Bank
------------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Ohio,
Eastern Division, authorized University Square Real Estate
Holdings, LLC to use cash collateral and obtain postpetition
financing, on an interim basis.

The Debtor is permitted to obtain a new money term loan in an
aggregate amount of up to $185,000, pursuant to the Priority
Secured Debtor in Possession Loan Agreement between the Debtor as
borrower and UMB Bank, N.A., in its capacity as Trustee for the
Bonds, as the debtor in possession lender.

In the weeks leading up to the Chapter 11 filing, the Debtor
approached UMB Bank, N.A. and requested an emergency loan
sufficient to fund the liquidity needs of the Debtor with respect
to the period prior to the Petition Date. The DIP Lender agreed to
provide an emergency loan in the aggregate amount of $91,500 to
bridge the Debtor into an orderly commencement of the chapter 11
case. Due to the nature of the Bridge Loan, the parties thereto
agreed that the Bridge Loan would be "rolled up" into the DIP Loan
Agreement upon entry of the Interim Order, and that the Bridge Loan
will thereafter be deemed to constitute part of the DIP Facility in
all material respects.

The DIP Facility is due and payable through the earliest to occur
of:

     (a) January 30, 2024, the Maturity Date; or
     (b) the date of the acceleration of the Loan or the
termination of the DIP Lender's commitment as the DIP Lender
pursuant to section 8.01 of the DIP Loan Agreement.

The Debtor is required to make mandatory prepayments of the Loan:
(a) not later than three Business Days following the receipt of the
Net Cash Proceeds of any Asset Sale, Debtor will apply 100% of such
Net Cash Proceeds to repay the Loan.; and (b) not later than three
Business Days following the receipt of any Net Cash Proceeds from a
Casualty Event by the Debtor, unless otherwise agreed to in writing
by the Lender, Debtor will apply 100% of such Net Cash Proceeds to
repay the Loan.

The Debtor requires use of cash collateral to permit, among other
things, the orderly continuation of its business, to maintain
business relationships with vendors, and to fund capital
expenditures and to satisfy other working capital and operational
needs.

On September 17, 2021, UMB Bank, a national banking association,
extended a $4 million loan to the Debtor.

As adequate protection, the Prepetition Lender will receive
continuing valid, binding, enforceable, and perfected, liens, and
security interests in and on all of the DIP Collateral, which will
(a) be subordinate only to: (i) the Carve-Out, (ii) the
Postpetition Liens, and (iii) the Prior Liens; and (b) be senior
and superior to the Subordinate Liens and Related Rights. The
Adequate Protection Liens will be deemed legal, valid, binding,
enforceable, and perfected liens, not subject to subordination,
impairment or avoidance, for all purposes in the chapter 11 case
and any Successor Case.

A final hearing on the matter is set for January 30, 2024 at 10
a.m.

A copy of the order is available at https://urlcurt.com/u?l=8CEy28
from PacerMonitor.com.

           About University Square Real Estate Holdings

University Square Real Estate Holdings, LLC sought protection under
Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ohio Case No.
23-12301) on July 10, 2023, with $1 million to $10 million in
assets and $10 million to $50 million in liabilities.

Judge Jessica E. Price Smith oversees the case.

Shawn M. Riley, Esq., at McDonald Hopkins, LLC is the Debtor's
legal counsel.


VARDAN LLC: Unsecureds Will Get 2% of Claims in Sale Plan
---------------------------------------------------------
Vardan, LLC, filed with the U.S. Bankruptcy Court for the Northern
District of Alabama a Subchapter V Plan of Liquidation dated
December 4, 2023.

The Debtor is an Alabama limited liability which was formed on June
29, 2012. Its members are Subbarao Yallapragada and his wife Sheela
Yallapragada.

The principal business of the Debtor is the ownership and operation
of a motel located at 8721 Madison Blvd Madison, Alabama 35758
("Property"). Prior to the pandemic, the Debtor operated the motel
which formerly did business from this location as both the Radisson
Huntsville Airport and subsequently the Wyndham Garden Inn.

Pre-petition, the Debtor ceased operating as a motel and is not
generating income from the operations of the motel. As part of
ceasing its business operations, the Debtor also made the decision
to lay off its employees. The Debtor has continued to maintain the
going concern value of the Property through the capital infusions
made by Mr. Yallapragada to pay operating expenses including
utilities. This has allowed the Debtor to focus its business
enterprise upon the sale of the Property and the improvements.

The Debtor was unsuccessful in its efforts to sell the property
pre-petition and was facing foreclosure by the Community Bank of
Johnson County at the time it determined to file this Chapter 11
case in order to be able to attempt to sell the Property so that
its proceeds could be divided amongst all of its creditors.

On October 3, 2023 Debtor filed a Motion to Sell Substantially All
of the Debtor's Assets Free and Clear of Liens, Claims, Interests,
and Encumbrances ("Sale Motion"). Pursuant to this Sale Motion the
Debtor sought permission to sell the Property, including its
personal property, to Shyam 23 for $4,075,000. The Sale Motion
further provided for a Bid Process in the event that it received a
higher offer to purchase the Property from another buyer.

As of December 1, 2023, Debtor had not received any additional
offers for the purchase of the Property as required by the Court's
Order. Accordingly, Shyam 23 is the sole purchaser for the
Property.

The Plan proposed by the Debtor is a plan of liquidation whereby
the Debtor's assets are to be liquidated and sold for the benefit
of its creditors. The Debtor will make payments to its creditors
under this Plan from the proceeds generated by the sale of its
Property.

Class 7 consists of all allowed general unsecured claims which are
impaired. The total amount of unsecured claims exceeds $500,000.
Allowed general unsecured creditors of this Class, will be paid a
pro-rata portion of the net sale proceeds from the Sale of the
Property after payment of all allowed administrative, secured, and
priority claims on or before the 60th day from the Effective Date
of the Plan. Based on current allowed claims, would pay Allowed
Unsecured Claims approximately 2% of their claim.

Class 8 is comprised of all equity interests in the Debtor, which
are owned by Subbarao Yallapragada and Sheela Yallapragada. All
equity interests in the Debtor will be terminated on the Effective
Date, and no holder of an equity interest shall receive a
distribution unless there are funds remaining after payment in full
of all Classes 1-7.

The Debtor will fund this Plan with the net proceeds it receives
from the sale of it's Property. This Plan contemplates 100%
disbursement to Administrative Claims, Priority Claims and the
Secured Claims of Johnson County Bank as well as the SBA and the
negotiated amount of the Secured Claim of Quantum as well as a Pro
Rata distribution to Allowed Unsecured Claims.

A full-text copy of the Liquidating Plan dated December 4, 2023 is
available at https://urlcurt.com/u?l=euBwuE from PacerMonitor.com
at no charge.

Attorney for Debtor:

      Kevin D. Heard, Esq.
      Angela S. Ary, Esq.
      HEARD, ARY & DAURO, LLC
      303 Williams Avenue, Suite 921
      Huntsville, AL 35801
      Phone: (256) 535-0817
      Email: kheard@heardlaw.com
             aary@heardlaw.com

                        About Vardan LLC

Vardan, LLC, owns a motel/hotel located at 8721 Madison Blvd. (Hwy
20 W), Madison, Ala., valued at $5.16 million.

The Debtor filed a petition under Chapter 11, Subchapter V of the
Bankruptcy Code (Bankr. N.D. Ala. Case No. 23-81630) on Sept. 5,
2023, with $5,199,091 in assets and $6,844,752 in liabilities.
Linda B. Gore has been appointed as Subchapter V trustee for
Vardan, LLC.

Judge Clifton R. Jessup Jr. oversees the case.

Kevin D. Heard, Esq., at Heard, Ary & Dauro, LLC, is the Debtor's
legal counsel.


WALGREENS BOOTS: Moody's Gives 'Ba2' CFR, Outlook Stable
--------------------------------------------------------
Moody's Investors Service downgraded the senior unsecured ratings
of Walgreens Boots Alliance, Inc. ("WBA") to Ba2 from Baa3 and its
backed senior unsecured commercial paper rating to Not Prime from
Prime-3. Moody's also downgraded Walgreens Co.'s (a subsidiary of
WBA together combined referred to as "Walgreens") senior unsecured
rating to Ba1 from Baa3. At the same time, Moody's assigned WBA a
Ba2 corporate family rating, a Ba2-PD probability of default rating
and an SGL-2 speculative grade liquidity rating (SGL). The rating
outlook is stable. This concludes the review for downgrade that was
initiated on October 13, 2023.

The two notch downgrade of WBA's senior unsecured rating reflects
Walgreens' stubbornly high financial leverage, weak interest
coverage and pressured free cash flow that Moody's believes will be
sustained over the next 12-18 months. It also reflects the high
execution risk that Walgreens faces as it implements new strategic
initiatives to reverse the sizable operating loss and accelerate
the profitability at its US Healthcare segment. Despite Walgreens'
$2.6 billion in debt repayment in the fiscal year ended August 31,
2023, debt/EBITDA (including the present value of the opioid
liability) increased to 5.4x from 4.7x in the prior year and
EBITA/interest weakened to 1.9x from 3.3x for the same period.
Walgreens is committed to repaying additional debt in fiscal 2024.
However, given the costs associated with new initiatives as well as
ongoing reimbursement rate pressures and a weak consumer
environment, Moody's estimates that debt/EBITDA will peak around
6.0x and EBITA to interest will decline to about 1.4x at the end of
fiscal 2024 before recovering in fiscal 2025.

The one notch downgrade of the Walgreens Co.'s senior unsecured
debt reflects that this debt is senior to the unsecured debt at WBA
as WBA's debt is not guaranteed by any operating subsidiaries. The
operations at Walgreens Co. represent the company's US retail
operations, its largest business segment.

RATINGS RATIONALE

Walgreens Ba2 CFR reflects its large scale and leading market
position as the second largest pharmacy chain in the US. The rating
also indicates Moody's view of the drugstore industry which
benefits from the aging of the US, U.K., and European populations
which will likely increase long term use of prescription drugs.
Moody's believes that demand for prescription drug medication is
mostly resilient to recessionary pressures. However, the industry
continues to face ongoing reimbursement rate pressures and an
evolving healthcare industry. The rating is also supported by
Walgreens good liquidity, suspension of its share repurchase
program and commitment to repaying debt. However, Walgreens'
debt/EBITDA is expected to remain very high peaking at about 6.0x
and interest coverage will remain weak with a trough at 1.4x at the
end of fiscal 2024. Walgreens faces significant execution risks as
it seeks to turnaround its operating performance particularly at
the US Healthcare segment. The Ba2 is predicated on Moody's
expectation that this level of weakness in credit metrics is
temporary and that both metrics will improve in 2025 to levels more
in line with a Ba rating.

The stable outlook reflects Walgreens good liquidity, its
commitment to debt reduction and Moody's belief that Walgreens'
leverage and coverage will strengthen over time through a
combination of earnings growth and debt repayment.

Walgreens' SGL-2 reflects good liquidity. The company's liquidity
largely supported by its $5.75 billion in fully available revolving
credit facilities, which include a $2.25 billion revolver expiring
in August 2026 and a $3.5 billion revolver expiring June 2027. The
company also has an undrawn $1.0 billion delayed draw term loan
(not rated) that matures 3-years from the date of borrowing.
Walgreens had $739 million of unrestricted cash at August 31, 2023.
Moody's expects that Walgreens will manage its upcoming debt
maturities in a timely manner.

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

Ratings could be upgraded if Walgreens successfully integrates its
numerous acquisitions, demonstrates a steady improvement in sales
and material improvement in profitability particularly at its US
Healthcare segment that leads to a sustained improvement in credit
metrics and consistently positive free cash flow while maintaining
good liquidity. An upgrade would also require the company to
demonstrate financial policies that support debt/EBITDA (including
the present value of the opioid liability) sustained below 4.25x
and EBITA to interest sustained above 2.75x.

Ratings could be downgraded if Walgreens experiences difficulties
with the integration of its many acquisitions, or fails to
demonstrate steady progress towards improved operating performance
that leads to stronger credit metrics and sustained positive free
cash flow. Ratings could also be downgraded should liquidity weaken
or should financial policies become more aggressive. Quantitatively
ratings could be downgraded if debt/EBITDA (including the present
value of the opioid liability) is sustained above 5.25x or
EBITA/interest is sustained below 2.0x.

Walgreens Boots Alliance, Inc. is a global retail pharmacy
operator. Walgreens together with the companies in which it has
equity method investments has a presence in more than 8 countries,
and has more than 12,500 locations. The company generates about
$139 billion in annual revenue and $7.1 billion of EBITDA in fiscal
2023 ended August 31, 2023.

The principal methodology used in these ratings was Retail and
Apparel published in November 2023.


WEWORK INC: Cushman & Wakefield Wants Maintenance Deal Decision
---------------------------------------------------------------
Cushman & Wakefield, which provides maintenance services to WeWork,
is urging a New Jersey bankruptcy judge to force the troubled
coworking firm to decide whether it wants to preserve their
existing contracts, alleging the office space provider owes Cushman
more than $6 million for work its subcontractors did before the
startup went bankrupt.

Cushman & Wakefield on Dec. 6, 2023, filed a motion to compel the
Debtors to assume or reject their Master Services Agreement and
Canada Participation Agreement.

Under the MSA, Cushman, in many instances through the use of
subcontractors and other third party vendors, provides many of the
services necessary for the Debtors to operate nearly all of their
locations throughout the United States and Canada.  Cushman has
approximately 200 employees that are dedicated to and work solely
on projects for the Debtors.  Cushman also provides facilities
management services necessary to keep the Debtors' locations up and
running -- services such as HVAC repair and maintenance, elevator
repair and maintenance, electrical and plumbing services, repair
and maintenance of fire and life safety systems, and pest control,
just to name a few.

"Despite the all-encompassing and critical nature of the services
provided by Movant, the Debtors have failed and refused to pay any
prepetition sums owed to Movant under the terms of the MSA
(including those owed to the Vendors and to reimburse payroll), or
to assume the MSA pursuant to Section 365 of the Bankruptcy Code,
or to deem Movant a critical vendor," counsel to Cushman, Brya M.
Keilson of MORRIS JAMES LLP, said.

"Many of the Vendors have expressed grave concerns about receiving
payment in full and some have already ceased performing any further
services until they receive payment for prepetition services.  If
the Vendors are not immediately paid for their prepetition
services, they could refuse to provide postpetition services.  If
that happens, quite literally, the Debtors' operations could cease.
If the buildings are not operational, or lease requirements are
not met, not to mention if the Debtors' members are not receiving
the "member experience" that they expect from the Debtors, there
will be no business to reorganize in these Chapter 11 cases.  If
postpetition services are not performed due to non-payment, the
Debtors also risk being sanctioned by regulatory agencies, liens
placed on Debtors' property by the Vendors, potential breaches of
the Debtors' leases, loss of business due to unsatisfied members,
and disruption (if not a complete shut-down) of the Debtors' day to
day business operations."

According to Cushman, the Vendors are owed over USD$ 5.5 million
and nearly
CAD$ 500,000 for services performed pre-petition, left unpaid
because the Debtors have not paid Cushman.  In addition, the
Debtors owe Cushman over US$2.5 million and over CAD$176,000 for
the reimbursement of prepetition payroll.

Counsel to Cushman & Wakefield U.S., Inc.:

       MORRIS JAMES LLP
       Brya M. Keilson
       500 Delaware Avenue, Suite 1500
       Wilmington, DE 19801
       Telephone: (302) 888-6800
       Facsimile: (302) 571-1750
       E-mail: bkeilson@morrisjames.com

               - and -

       SHULMAN BASTIAN FRIEDMAN & BUI LLP
       Leonard M. Shulman
       Melissa Davis Lowe
       100 Spectrum Center Drive, Suite 600
       Irvine, CA 92618
       Telephone: (949) 340-3400
       Facsimile: (949) 340-3000
       E-mail: lshulman@shulmanbastian.com
       E-mail: mlowe@shulmanbastian.com

                        About WeWork Inc.

New York, NY-based WeWork Inc. is a global flexible workspace
provider, serving a membership base of businesses large and small
through its network of 779 Systemwide Locations, including 622
Consolidated Locations as of December 2022.

WeWork Inc. and its affiliates sought relief under Chapter 11 of
the Bankruptcy Code (Bankr. D.N.J. Case No. 23-19865) on Nov. 6,
2023.  In its petition, WeWork Inc. reported $19 billion of
liabilities and $15 billion of assets.

The Debtors are represented by Kirkland & Ellis LLP (Edward
Sassower, Joshua Sussberg, Steven Serrejeddini, Ciara Foster,
Oliver Pare, Josh Greenblatt, Jimmy Ryan, Connor Casas, William
Arnault) and Cole Schotz PC (Michael Sirota, Warren Usatine, Felice
Yudkin, Ryan Jareck) as legal counsel, Alvarez & Marsal North
America LLC (Justin Schmaltz) as financial advisor, and PJT
Partners LP (Paul Sheaffer) as investment banker.  Softbank is
represented by Weil Gotshal & Manges LLP (Gary Holtzer, Gabriel
Morgan, Kevin Bostel, Eric Einhorn) and Wollmuth Maher & Deutsch
LLP (Paul DeFilippo, James Lawlor, Steven Fitzgerald, Joseph
Pacelli) as legal counsel and Houlihan Lokey Capital as financial
advisor.

The Ad Hoc Group of First Lien and Second Lien Lenders is
represented by Davis Polk & Wardwell LLP (Eli Vonnegut, Elliot
Moskowitz, Natasha Tsiouris, Jonah Peppiatt) and Greenberg Traurig
LLP (Alan Brody) as legal counsel and Ducera Partners LLC as
financial advisor.


WEWORK INC: Names Claudio Hidalgo as Chief Operating Officer
------------------------------------------------------------
WeWork Inc. disclosed in a Form 8-K Report filed with the
Securities and Exchange Commission that the Board of Directors of
the Company appointed Claudio Hidalgo as Chief Operating Officer,
effective immediately.

Hidalgo previously served as the Company's Chief Operating Officer
Americas from June 2023 to November 2023, and as Chief Operating
Officer of WeWork Latin America from April 2020 to August 2022.
Hidalgo also co-founded and served as the Chief Operating Officer
at Somos Internet in Colombia from September 2022 to June 2023.

Before joining WeWork, Hidalgo spent four years (April 2016 - April
2020) at Sprint Corporation where he served as Regional President
for the Southeast and then Northeast, covering Puerto Rico and US
Virgin Islands. He earned an engineering degree with a minor in
economics from the Universidad Gabriela Mistral in Chile and post
graduate diplomas at Executive International Leadership Programs
from, IESE, INSEAD and Georgetown.

There are no arrangements or understandings between Hidalgo and any
other persons pursuant to which he was appointed as the Chief
Operating Officer of the Company. There are no family relationships
between Mr. Hidalgo and the executive officers or directors of the
Company, and no transactions involving the Company and Hidalgo that
would be required to be reported pursuant to Item 404(a) of
Regulation S-K.

                         About WeWork Inc.

New York, NY-based WeWork Inc. is a global flexible workspace
provider, serving a membership base of businesses large and small
through its network of 779 Systemwide Locations, including 622
Consolidated Locations as of December 2022.

WeWork Inc. and its affiliates sought relief under Chapter 11 of
the Bankruptcy Code (Bankr. D.N.J. Case No. 23-19865) on Nov. 6,
2023.  In its petition, WeWork Inc. reported $19 billion of
liabilities and $15 billion of assets.

The Debtors are represented by Kirkland & Ellis LLP (Edward
Sassower, Joshua Sussberg, Steven Serrejeddini, Ciara Foster,
Oliver Pare, Josh Greenblatt, Jimmy Ryan, Connor Casas, William
Arnault) and Cole Schotz PC (Michael Sirota, Warren Usatine, Felice
Yudkin, Ryan Jareck) as legal counsel, Alvarez & Marsal North
America LLC (Justin Schmaltz) as financial advisor, and PJT
Partners LP (Paul Sheaffer) as investment banker.  Softbank is
represented by Weil Gotshal & Manges LLP (Gary Holtzer, Gabriel
Morgan, Kevin Bostel, Eric Einhorn) and Wollmuth Maher & Deutsch
LLP (Paul DeFilippo, James Lawlor, Steven Fitzgerald, Joseph
Pacelli) as legal counsel and Houlihan Lokey Capital as financial
advisor.

The Ad Hoc Group of First Lien and Second Lien Lenders is
represented by Davis Polk & Wardwell LLP (Eli Vonnegut, Elliot
Moskowitz, Natasha Tsiouris, Jonah Peppiatt) and Greenberg Traurig
LLP (Alan Brody) as legal counsel and Ducera Partners LLC as
financial advisor.


WYNN RESORTS: Moody's Affirms 'B1' CFR & Alters Outlook to Stable
-----------------------------------------------------------------
Moody's Investors Service affirmed Wynn Resorts Finance, LLC's
("WRF" or "Wynn") B1 Corporate Family Rating, B1-PD Probability of
Default rating, and existing Ba1 senior secured revolver and term
loan ratings. Moody's upgraded the rating on WRF's senior unsecured
notes to B1 from B2. Moody's also upgraded Wynn Macau, Limited
("WML") and Wynn Las Vegas, LLC's ("WLV", a wholly-owned subsidiary
of WRF) senior unsecured notes rating to B1 from B2. WML is a 72.2%
owned subsidiary of WRF, which in turn is a wholly-owned subsidiary
of Wynn Resorts, Limited. Moody's changed the outlook for WRF, WML,
and WLV to stable from negative. WRF's speculative-grade liquidity
rating remains at SGL-2.

The rating affirmation and stable outlook reflects Moody's
expectation that Wynn's financial leverage will continue to
decline, as Macau's gaming market will recover strongly after China
lifted its pandemic-related travel restrictions earlier this year
and visitation and gaming revenue rebounds. The expected recovery
in Macau, coupled with the strong performance at the company's Las
Vegas and Encore Boston Harbor properties will support revenue and
EBITDA growth and drive leverage down. The stable outlook
incorporates Moody's view that the company will maintain good
liquidity, with ample cash balances.

The upgrade to the company's senior unsecured notes reflects a
reduction in total debt levels as well as the change in the
relative mix of secured versus unsecured debt in the company's
capital structure. The reduction in secured debt, which has
priority over unsecured debt, increases recoveries on the unsecured
debt. Moody's expects the company to continue to reduce the
relative proportion of secured debt relative to unsecured debt in
the future.

RATINGS RATIONALE

Wynn Resorts Finance, LLC's (B1 Stable) credit profile reflects the
improving performance of the company's Macau operations as the
recovery continues, and the continued strong performance of the
company's US operations, driving leverage down from elevated
levels. The rating is supported by the quality, popularity, and
favorable reputation of the company's resort properties -- a factor
that continues to distinguish Wynn from other gaming operators --
along with the company's well established and very successful track
record of building large, high quality destination resorts. Wynn's
good liquidity and relatively low cost of debt capital also support
the ratings. The B1 Corporate Family Rating also incorporates that
Wynn's Macau operations will continue to recover, reducing leverage
levels closer to pre-pandemic levels. Key credit concerns include
Wynn's limited diversification, despite being one of the largest
U.S. gaming operators in terms of revenue, and exposure to
reductions in cyclical discretionary consumer and business
spending. Wynn's revenue and cash flow will remain heavily
concentrated in the Macau gaming market. Moody's also expects that
Wynn will be presented with and pursue other large, high profile,
integrated resort development opportunities around the world, such
as its development in the United Arab Emirates. As a result, there
will likely be periods where the company's leverage increases due
to partially debt-financed, future development projects.

The stable outlook reflects Moody's expectation that visitation and
gaming revenues will continue to ramp in 2024, enabling Wynn to
restore credit metrics to levels in line with Moody's expectations
for the B1 Corporate Family Rating, including leverage below 7x.
The outlook also incorporates Moody's expectation that the company
will maintain ample liquidity, and manage its upcoming maturities
in a timely manner and reduce overall debt levels.

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

Ratings could be downgraded if liquidity deteriorates or if Moody's
anticipates Wynn's earnings to decline from current levels.
Reductions in discretionary consumer spending and visitation and an
inability to reduce debt-to-EBITDA leverage to near 7x could also
lead to a downgrade.

Ratings could be upgraded if debt/EBITDA on a Moody's adjusted
basis is maintained below 6.0x. Good liquidity and continued
revenue growth with strong positive free cash flow would also be
needed for an upgrade.

The principal methodology used in these ratings was Gaming
published in June 2021.

Wynn Resorts Finance, LLC is an indirect wholly-owned subsidiary of
publicly-traded Wynn Resorts, Limited, and holds all of Wynn
Resorts, Limited's ownership interests in Wynn Las Vegas, LLC,
which owns and operates the Wynn Las Vegas integrated resort in Las
Vegas, Nevada (excluding certain leased retail space that is owned
by Wynn Resorts directly), Wynn Asia, and Wynn MA, LLC, which owns
and operates Encore Boston Harbor. The company owns 72% of Wynn
Macau, Limited. Consolidated revenue for the last twelvemonth
period ended September 30, 2023 was approximately $5.7 billion.    


YELLOW CORP: Approved for $1.88-Bil. Sale to Multiple Buyers
------------------------------------------------------------
Dietrich Knauth of Reuters reports that bankrupt trucking company
Yellow Corp received court approval on Tuesday to sell most of its
shipping centers and real estate to multiple buyers for $1.88
billion, ending a bidder's long-shot effort to keep the company
intact.

U.S. Bankruptcy Judge Craig Goldblatt approved the sale at a court
hearing in Wilmington, Delaware, saying that the purchase price was
a "tremendous outcome" for the trucking company and its creditors.

The sale, which will parcel out 130 of the company's shipping
centers to multiple buyers, generated enough cash to pay off the
company's $1.2 billion in pre-bankruptcy debt, including $700
million owed on a U.S. Treasury Department COVID-19 pandemic relief
loan approved by former President Donald Trump's administration in
2020.

Yellow is still seeking buyers for its remaining owned and leased
real estate, including 46 shipping terminals, as well as its fleet
of trucks.

Yellow chose to break up its assets rather than keeping the company
intact for an outside buyer, despite pressure from U.S. Senators
from both parties who argued that the company should remain intact
as a way to save jobs.

Sarah Riggs Amico, the executive chair of trucking company Jack
Cooper Transport, led a bid to buy Yellow through a new company
called Next Century Logistics, and she had urged the U.S. Treasury
Department to support that effort by modifying its loan to the
company. Amico's bid would not involve any merger with Jack Cooper,
which would remain a separate company.

Amico said Tuesday that she remained interested in bidding on
Yellow's remaining terminals and trucks, which would allow her to
re-hire 12,000 to 15,000 of the workers who lost their jobs when
Yellow shut down.

"We look forward to working with the debtor to save thousands of
jobs that don't need to be permanently lost," Amico said.

In the sale approved Tuesday, trucking company XPO Inc (XPO.N) was
the largest buyer, acquiring 28 shipping centers for $870 million.

Yellow's attorney Allyson Smith said in court Tuesday that the
auction was an unqualified success, greatly exceeding the $1.1
billion appraised value of Yellow's real estate and an early offer
of $1.525 billion for all of its shipping centers.

Yellow, formerly known as YRC, filed for Chapter 11 bankruptcy
protection in August, blaming a labor dispute with the
International Brotherhood of Teamsters union for its demise.

                   About Yellow Corporation

Yellow Corporation -- http://www.myyellow.com/-- operates
logistics and less-than-truckload (LTL) networks in North America,
providing customers with regional, national, and international
shipping services throughout. Yellow's principal office is in
Nashville, Tenn., and is the holding company for a portfolio of LTL
brands including Holland, New Penn, Reddaway, and YRC Freight, as
well as the logistics company Yellow Logistics.

Yellow Corporation and 23 affiliates concurrently filed voluntary
petitions for relief under Chapter 11 of the Bankruptcy Code
(Bankr. D. Del. Lead Case No. 23-11069) on August 6, 2023, before
the Hon. Craig T. Goldblatt.  As of March 31, 2023, Yellow Corp.
had $2,152,200,000 in total assets against $2,588,800,000 in total
liabilities.  The petitions were signed by Matthew A. Doheny as
chief restructuring officer.

The Debtors tapped Kirkland & Ellis LLP as restructuring counsel;
Pachulski Stang Ziehl & Jones LLP as Delaware local counsel;
Kasowitz, Benson and Torres LLP as special litigation counsel;
Goodmans LLP as special Canadian counsel; Ducera Partners LLC as
investment banker; and Alvarez and Marsal as financial advisor.
Epiq Bankruptcy Solutions serves as claims and noticing agent.

Milbank LLP serves as counsel to certain investment funds and
accounts managed by affiliates of Apollo Capital Management, L.P.
White & Case LLP serves as counsel to Beal Bank USA.

Arnold & Porter Kaye Scholer LLP serves as counsel to the United
States Department of the Treasury.

On Aug. 16, 2023, the United States Trustee for Region 3 appointed
an official committee of unsecured creditors in the Chapter 11
cases.  The committee tapped Akin Gump Strauss Hauer & Feld LLP and
Benesch, Friedlander, Coplan & Aronoff LLP as counsel; Miller
Buckfire as investment banker; and Huron Consulting Services LLC as
financial advisor.


ZIPRECRUITER INC: Moody's Affirms 'B1' CFR, Outlook Remains Stable
------------------------------------------------------------------
Moody's Investors Service affirmed ZipRecruiter, Inc.'s, a
California-based online job marketplace, B1 Corporate Family Rating
and B1-PD Probability of Default Rating. Moody's also affirmed the
B2 Senior Unsecured Global Notes rating. The SGL-1 speculative
grade liquidity (SGL) rating remains unchanged. The outlook is
maintained stable.

The ratings affirmation reflects ZipRecruiter's good free cash flow
(FCF) generation capacity and strong liquidity position, which
mitigate Moody's expectation for substantial revenue declines over
the next 12 months as the US employment market continues to endure
cyclical pressure in an uncertain macroeconomic environment. The
company's highly variable cost structure enables profit and cash
flow stability even amidst significant revenue drops. The ratings
are further bolstered by a robust liquidity profile, backed by
substantial cash reserves.

RATINGS RATIONALE

ZipRecruiter benefits from a strong market position as one of the
leading providers of online recruiting services in the US. Its
well-known brand, deep resume database and extensive client
relationships result in a network effect that attracts recruiters
and job seekers to its online marketplace. Cyclical swings in job
opening volumes create revenue volatility during economic downturns
but the migration of recruiting spend from traditional employment
and staffing agencies to online platforms supports long-term
growth. A highly variable cost structure, along with good
end-market diversification and a strong liquidity position also
mitigate exposure to the cyclical demand characteristics of
recruiting services. Debt/EBITDA leverage is impacted by high
stock-based compensation, which Moody's does not add back, but
cash-based EBITDA and free cash flow metrics support the credit
profile. The ratings reflect Moody's expectation for balanced
financial policies that will sustain long-term FCF/debt above 13%.
The company could utilize its large cash balances to pursue
strategic mergers and acquisitions (M&A) targets but Moody's
anticipates moderate financial policies that maintain a strong
liquidity position. Sustained share repurchases in excess of free
cash flow would diminish liquidity and signal more aggressive
financial policies, which would in turn pressure the ratings.

The company's small scale relative to other issuers in its rating
category, limited product diversification, and geographic
concentration in the US market weigh on the credit. ZipRecruiter
operates in the competitive online job board services industry
against larger peers with deep pockets. A limited track record of
sustained profitability and positive free cash flow is also credit
negative. The company has reported strong profitability and cash
flow improvement over the last three years, driven by reduced
marketing spend among other cost reduction initiatives. However,
higher spending levels could be required to sustain revenue growth
in a more balanced US jobs market, which experienced an exceptional
supply and demand imbalance following the pandemic. Moody's expects
profit margins and cash flow generation to weaken over the next 12
months as job openings in the US labor market continue to decline.

The stable outlook reflects Moody's expectation that ZipRecruiter
will sustain strong liquidity and free cash flow generation despite
a substantial reduction in revenue over the next 12-18 months.
Moody's anticipates further declines in US job postings will reduce
total revenue towards the $500-$550 million range in 2024. However,
the company will offset lower revenue generation with lower
marketing, wages and other discretionary spend, and could shrink
its workforce further if needed, following the recent 20%
reduction. Moody's expects cash flow metrics to remain healthy,
with FCF/debt above 15%. Debt/EBITDA will increase towards 5.5x,
Moody's adjusted with EBITDA net of stock-based compensation and
capitalized software, but will reflect more moderate levels around
3.5x on a cash basis, excluding stock-based compensation as an
expense.

Liquidity is a key credit consideration given the company's
exposure to cyclical swings in the US jobs market. The Speculative
Grade Liquidity (SGL) rating of SGL-1 reflects very good liquidity,
supported by cash and cash equivalents (including short term
investments) of approximately $497 million as of September 30,
2023. The company could leverage its large cash balances to pursue
strategic M&A targets, but Moody's anticipates it will sustain a
strong liquidity position and generate strong free cash flow, with
FCF/debt above 15% over the next 12 months. A $250 million revolver
due 2026, with roughly $245 million of available capacity (net of
letters of credit as of September 30, 2023), provides additional
liquidity. The revolving credit facility (unrated) includes a
financial covenant that limits the total net leverage ratio to
3.5x. The definition of EBITDA under the credit agreement includes
stock-based compensation and other non-cash add-backs. The covenant
threshold could be increased to 4.0x for material acquisitions.
Moody's believes the company will sustain an ample headroom against
the financial covenant limit.

ZipRecruiter, Inc. is the borrower of the $550 million senior
unsecured notes and the existing $250 million senior secured credit
facility. The B2 rating for the senior unsecured notes reflects
ZipRecruiter's B1-PD Probability of Default and the Loss Given
Default assessment. The rating and Loss Given Default expectations
reflect the subordination of the notes to any borrowings under the
revolving credit facility (unrated). The unsecured notes provide
little covenant protection and do not include any limitations on
additional unsecured debt, restricted payments, investments or
asset sales.

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

ZipRecruiter's ratings could be upgraded if the company
demonstrates a solid competitive position by maintaining strong
long-term double-digit revenue growth while balancing marketing
spend and other operating costs, such that long-term profitability
continues to expand. Increased scale and Moody's expectation that
the company will maintain its track record of balanced financial
policies and very good liquidity would also be required for a
ratings upgrade.

The ratings could be downgraded if ZipRecruiter's long-term revenue
growth is weaker than Moody's expectation, or if sales and
marketing or other cash expenses increase such that free cash flow
to debt diminishes, with FCF/debt anticipated to remain below 12%.
The ratings would be pressured too if the company were to pursue
more aggressive financial policies, such as sustained share
repurchases in excess of free cash flow, or other strategies that
increase leverage or weaken liquidity.

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

Headquartered in Santa Monica, CA, ZipRecruiter is an online job
marketplace that connects job seekers and recruiters. The company
also offers adjacent solutions such as applicant tracking systems.
Revenue for the trailing twelve months ending September 30,2023 was
approximately $720 million. The company went public through a
direct listing on May 26, 2021.


                            *********

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
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