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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

              Tuesday, May 28, 2024, Vol. 28, No. 148

                            Headlines

99 CENTS ONLY: Gets Court Okay for $14.6-Mil. Stalking Horse Bid
AIS HOLDCO: S&P Withdraws 'B' Issuer Credit Rating
AMC ENTERTAINMENT: Posts Q1 Loss Amid Fewer Film Releases
AMC ENTERTAINMENT: Raises $250 Million New Equity Capital
AMKOR TECHNOLOGY: Moody's Ups CFR to Ba2 & Unsecured Notes to Ba3

ANCHORED CARE: Judy Wolf Weiker Named Subchapter V Trustee
ARC OF LIFE: Michael Markham Named Subchapter V Trustee
ARC ONE PROTECTIVE: Aaron Cohen Named Subchapter V Trustee
ARNOLD BROTHERS: Daniel Behles Named Subchapter V Trustee
BALADE YOUR WAY: Heidi Sorvino Named Subchapter V Trustee

BALL CORP: Moody's Alters Outlook on 'Ba1' CFR to Stable
BANGL LLC: Moody's Affirms 'B2' CFR & Alters Outlook to Stable
BED BATH: Sues Hudson Bay to Recover $300 Mil. Trading Gains
BEN NYE CO: Hits Chapter 11 Bankruptcy to Prevent Talc Lawsuits
BESTWALL LLC: SC Refuses to Weigh Texas 2-Step Asbestos Bankruptcy

BOMBARDIER INC: Moody's Rates New 2032 Unsecured Notes 'B1'
BOY SCOUTS: Changes Name to Scouting America to Move Past Woes
BRIDLE PATH: Files Amendment to Disclosure Statement
BRONGUS INC: Robert Handler Named Subchapter V Trustee
BUILT BY KCE: John Whaley Named Subchapter V Trustee

CAMP RIM ROCK: Holly Smith Miller Named Subchapter V Trustee
CAREER MATCHING: Samuel Dawidowicz Named Subchapter V Trustee
CELSIUS NETWORK: Stretto's Phishing Attack Affects Creditors
CENTER FOR ALLERGIC: Unsecureds Will Get 100% over 60 Months
CENTURI GROUP: Moody's Affirms 'Ba3' CFR & Alters Outlook to Stable

CLUE OPCO: Moody's Lowers CFR to B2 & Alters Outlook to Negative
CMC ELECTRIC: Ordered to file Plan on or before Aug. 5
COLOGNE ACADEMY: Moody's Rates Series 2014A School Bonds 'Ba1'
COTTONWOOD FINANCIAL: Gets OK to Sell Assets to Winning Bidder
COTY INC: Moody's Assigns 'Ba2' Rating to New Senior Secured Notes

DIAMOND SPORTS: Spat With Comcast Threatens Its Restructuring Plan
DIAMOND SPORTS: Wins Court Okay for Renewed DirecTV Deal
DIOCESE OF ROCKVILLE CENTRE: Starts Abuse Claims Mediation
DYNATA LLC: Commences Prepackaged Chapter 11 Filing
EBIX INC: Disclosure Statement Hearing Continued to June 27

ECHOSTAR CORP: Reports Big Losses in Q1 as Bankruptcy Fears Rise
ELETSON HOLDINGS: Creditors Seek Over $10M Cut in Reed Smith Fees
ELEVENONE INC: Michael Abelow Named Subchapter V Trustee
ELM TRUST 2024-ELM: Moody's Assigns (P)Ba2 Rating to HRR-15 Certs
ENVIVA INC: Wilmington Trust Appointed to Creditors Committee

EUROBISTRO LLC: Unsecureds to get 3.4% of Their claims in Plan
EVE FINANCIAL: Court Confirms Plan
EXACTECH INC: S&P Lowers ICR to 'CCC-' on Limited Liquidity
EYECARE PARTNERS: Moody's Cuts CFR to 'Caa3', Outlook Stable
FAIRPORT BAPTIST: PCO Says Patient Care Remains Stable

FENDER MUSICAL: Moody's Alters Outlook on 'B2' CFR to Stable
FGV FRESNO: Unsecureds owed $4M and Unimpaired in Plan
FLORIDA FOOD: Moody's Lowers CFR to Caa3 & First Lien Debt to Caa2
FRANCHISE GROUP: Experiences Steep Decline as It Looks to Cut Debt
FTX GROUP: Ex-Official Asks Court for Leniency in 18-Month Sentence

FTX GROUP: Sullivan Wants to End Claims of Aiding Fraud
FULLER AND FULLER: U.S. Trustee Unable to Appoint Committee
GALLERIA 2425: Unsecureds' Recovery Lowered to 90% in Plan
GATES CORP: Moody's Rates New $500MM Unsecured Notes 'B2'
GIRAFFE ENTERTAINMENT: Beverly Brister Named Subchapter V Trustee

GLOBAL FERTILITY: No Decline in Patient Care, 4th PCO Report Says
GLOBAL PRIME: Yann Geron Named Subchapter V Trustee
GOL LINHAS: Unveils New 5-Year Financial Plan
GRAY TELEVISION: Gets $750 Million New Senior Secured Term Loan
H2O INVESTMENT: Trustee Gets OK to Sell West Linn Property

HANOVER COLLEGE: Moody's Affirms Ba1 Issuer Rating, Outlook Stable
HOTOPP PROPERTIES: Jerome Kerkman Named Subchapter V Trustee
INTELGENX: Application for Creditor Protection Under CCAA Okayed
INVITAE CORPORATION: Class 6 Unsecureds Will Get 100% of Claims
J CABELAS: U.S. Trustee Unable to Appoint Committee

J FRANKLIN: U.S. Trustee Unable to Appoint Committee
JD MOTORSPORTS: U.S. Trustee Unable to Appoint Committee
JERUSALEM FOOD: Case Summary & 19 Unsecured Creditors
JLM COUTURE: Reaches Bridal Dress Designer Deal
KABBAGE INC: Reaches 2 Deals With FCA Amounting to $120 Million

KIDKRAFT INC: Seeks Ch. 11 Bankruptcy, Plans to Sell Its Assets
KIDKRAFT INC: U.S. Trustee Appoints Creditors' Committee
KOKOMO KEY: Jerrett McConnell Named Subchapter V Trustee
L AND L: U.S. Trustee Appoints Tamar Terzian as PCO
LCM INVESTMENTS II: Moody's Affirms Ba3 CFR, Outlook Remains Stable

LD HOLDINGS: S&P Lowers ICR to 'CCC+' on Announced Debt Exchange
LERETA LLC: S&P Downgrades ICR to 'CCC+' on Thin Liquidity
LGID NY: Seeks Court Nod to Sell North Haven Properties for $3.6MM
LIBERTY TRIPADVISOR: Adds Going Concern Language in Form 10-Q
LINDSEY HEATING: Timothy Stone Named Subchapter V Trustee

LOKAL LLC: Cameron McCord Named Subchapter V Trustee
MAJORDRIVE HOLDINGS IV: Moody's Affirms 'B3' CFR, Outlook Stable
MEDROBOTICS INC: Sells Its Assets Amid Chapter 7 Bankruptcy
MEZCLA ONE: Unsecureds Will be Paid in Full in Plan
MILLERS WHOLESALE: Case Summary & Seven Unsecured Creditors

MILWAUKEE INSTRUMENTS: Case Summary & 20 Top Unsecured Creditors
MIST HOLDINGS: June 18 Combined Hearing Set
MONOGRAM FOOD: S&P Upgrades ICR to 'B' on Performance Improvement
NANOSTRING TECHNOLOGIES: Gets Court OK to Seek Updated Plan Vote
NATIONWIDE MEDICAL: Aleida Molina Named Subchapter V Trustee

NORTH GEORGIA NURSING: Tamara Ogier Named Subchapter V Trustee
NUMBER HOLDINGS: Court OKs Sale of Designation Rights to 58 Leases
OBRA CAPITAL: S&P Downgrades ICR to 'CCC-' on Weakening Liquidity
PACKAGING COORDINATORS: Moody's Rates New $1.9BB 1st Lien Loan 'B3'
PANDORA MARKETING: Chip Hoebeke Named Chapter 11 Trustee

PARTNERS IN HOPE: PCO Reports No Resident Care Complaints
PARTNERS IN HOPE: U.S. Trustee Unable to Appoint Committee
PATRIOT CONTAINER: Moody's Cuts CFR to Caa1 & 1st Lien Debt to B3
PCS & ESTIMATE: Asks Court to Approve Bid Rules for Sale of Assets
PEAR THERAPEUTICS: Court Approves Disclosures and Confirms Plan

PERSIMMON HOLLOW: Claims Will be Paid From Plan Sponsor
PIZZA PALS: Behrooz Vida Named Subchapter V Trustee
PLUG POWER: Posts $296 Million Quarterly Loss in Q1 of 2024
PORTERFIELD-SCHEID MANAGEMENT: Rynard Named Subchapter V Trustee
PROSOMNUS SLEEP: Gets Court Okay to Tap $13 Mil. Chapter 11 Loan

RED LOBSTER: Weighs Assets Bid in Potential Chapter 11 Sale
RESIDENTIAL ADVERSITIES: Leon Jones Named Subchapter V Trustee
RITE AID CORP: Closes More Than 520 Stores Since Chapter 11 Filing
RITE AID: Gets Court Nod to Sell Assets for $260,500
RITE AID: Opioid Victims Ask Court Okay to Get Insurance Payout

SAM ASH MUSIC: Enters Chapter 11, To Liquidate Chains
SAM ASH: Gets Court Okay to Tap $20Mil. DIP That Trust Opposed
SENSATA TECHNOLOGIES: Moody's Rates New Sr. Unsecured Notes 'Ba2'
SEVENTEEN00 LLC: Christopher Hayes Named Subchapter V Trustee
SHARKFIN REAL: U.S. Trustee Unable to Appoint Committee

SHERMAN/GRAYSON: PCO Reports No Change in Patient Care Quality
SIBANYE-STILLWATER LTD: Fitch Affirms BB LongTerm IDR, Outlook Neg.
SONDER HOLDINGS: Hires Moelis to Help Boost Its Financial Health
SOTERA HEALTH: Moody's Rates New $750MM Senior Secured Notes 'B1'
SOUTHERN CLEARING: Unsecureds to Get a Prorata Portion of $43K

SPECTRUM BRANDS: Moody's Alters Outlook on 'B1' CFR to Stable
STAPLES INC: Swaps, Redeems Notes to Refinance Debt
STEPHENS HEADS: Thomas Willson Named Subchapter V Trustee
SVB FINANCIAL: Securities Holders Slam Chapter 11 Plan Outline
TELLURIAN INC: CEO Octavio Simoes Resigns as It Explores Sale

TOAN NGUYEN: Michael Colvard Named Subchapter V Trustee
TOWNSQUARE MEDIA: Moody's Affirms 'B2' CFR, Outlook Stable
TST BEVERAGES: Court OKs Bid Rules for Sale of Assets
TURNING POINTS: Richard Furtek Named Subchapter V Trustee
UNCONDITIONAL LOVE: Unsecureds Owed $78M to Get 0.46% of Claims

UPTOWN 240: Creditors to Get Proceeds From Liquidation
VENUS LIQUIDATION: Court Approves Disclosures and Confirms Plan
VIEW INC: Objectors Say Third-Party Release is Fatally Flowed
VOLUME INDUSTRIES: Unsecureds get Share of Plan Distribution Fund
VOYAGER DIGITAL: Stretto Inc. Data Breach Affects Creditors

WHAIRHOUSE LIMITED: Trustee Seeks OK to Sell Paterson Property
WHITEHEAD ESTATES: Case Summary &10 Unsecured Creditors
WHITESTONE UPTOWN: Unsecureds be Paid in Full Over 48 Months
WORMHOLE LABS: Unsecured Owed $27.5M Get 95% of New Equity Interest
WOW NOW PROPERTIES: Donna Hall Named Subchapter V Trustee

[^] Large Companies with Insolvent Balance Sheet

                            *********

99 CENTS ONLY: Gets Court Okay for $14.6-Mil. Stalking Horse Bid
----------------------------------------------------------------
Ollie's Bargain Outlet Holdings, Inc. (NASDAQ: OLLI) disclosed that
at the conclusion of a final sale hearing, the United States
Bankruptcy Court for the District of Delaware approved the
Company's stalking horse bid to acquire 11 former 99 Cents Only
Stores locations. The Company and debtor entered into an asset
purchase agreement to acquire eleven former 99 Cents Only Stores
locations for $14.6 million in cash. The locations were acquired
through the auction process held in connection with 99 Cents Only
Stores' bankruptcy proceedings. The bankruptcy court approved the
sale of the eleven stores to the Company on May 23, 2024, with
appropriate court orders to follow. Of the 11 store locations,
three of these are owned properties and eight are leased properties
with attractive rents and leasing structures, located in key
markets across Texas. The acquisition is expected to close in early
June.

"We are very excited to be announced as the winning bidder of these
store locations. These stores are the right size, located in good
trade areas, have attractive rents and leasing structures, and have
been serving value-oriented customers for many years. Texas is a
great market for us that has tremendous growth potential and
continues to benefit from strong population growth," said John
Swygert, President and Chief Executive Officer of Ollie's.

Mr. Swygert continued, "We are focused on getting these stores up
and running as quickly as possible, given the occupancy expenses we
will begin incurring at closing. We are maintaining our target of
50 new stores, less two planned closures, for fiscal 2024 and are
in the early stages of evaluating the impact on our new store
opening cadence this year."

                         About Ollie's

Ollie's -- http://www.ollies.us-- is America's largest retailer of
closeout merchandise and excess inventory, offering Real Brands and
Real Bargain prices(R)! It offers extreme value on brand name
products in a variety of departments, including housewares, food,
books and stationery, bed and bath, floor coverings, toys, health
and beauty aids, and more. It currently operates 516 stores in 30
states and growing.

                  About 99 Cents Only Stores

Founded in 1982, 99 Cents Only Stores LLC -- http://www.99only.com/
-- operate "extreme value" retail stores in California, Arizona,
Nevada and Texas under the business names "99¢ Only Stores" and
"The 99 Store." The Company offers its customers a wide array of
quality products -- from everyday household items, to fresh
produce, deli, and other grocery items, to an assortment of
seasonal and party merchandise -- many of which are still priced at
or below 99.99 cents. The Company's stores are primarily located in
urban areas and underserved communities, many of which lack close
access to traditional grocery stores.

The Debtors sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Del. Lead Case No. 24-10719) on April 7,
2024. In the petition signed by Christopher J. Wells, as chief
restructuring officer, the Debtor disclosed up to $10 billion in
both assets and liabilities.

Judge Kate Stickles oversees the case.

The Debtors tapped Milbank LLP as general bankruptcy counsel,
Morris, Nichols, Arsht & Tunnel LLP as Delaware bankruptcy counsel,
Jefferies LLC as investment banker, Alvarez & Marsal North America,
LLC as financial advisor, Hilco Merchant Resources, LLC and Hilco
Real Estate, LLC as retail consultant and real estate consultant,
and Kroll Restructuring Administration LLC as claims and noticing
agent.   

The U.S. Trustee for Region 3 appointed an official committee to
represent unsecured creditors.

The law firms of Weil, Gotshal & Manges LLP and Potter Anderson &
Corroon LLP represent the Ad Hoc Group of Secured Noteholders.


AIS HOLDCO: S&P Withdraws 'B' Issuer Credit Rating
--------------------------------------------------
S&P Global Ratings withdrew its 'B' issuer credit rating on AIS
HoldCo LLC (d/b/a Franklin Madison) at this issuer's request.

At the same time, S&P discontinued all of its issue-level ratings
on the company's debt since all of its rated facilities have been
fully repaid.

The company refinanced its existing syndicated facilities with a
new private lender agreement.



AMC ENTERTAINMENT: Posts Q1 Loss Amid Fewer Film Releases
---------------------------------------------------------
Thomas Buckley of Bloomberg News reports that AMC Entertainment
Holdings Inc., the largest movie-theater chain, reported a
first-quarter loss, the result of a thinner slate of releases from
Hollywood studios after last year's, 2023, strikes by writers and
actors.

The loss in the period, excluding some items, narrowed to 78 cents
a share and compared with the 79-cent loss that analysts were
projecting. Revenue was little changed at $951.4 million, beating
Wall Street estimates as the company gained market share from
competitors.

Average ticket prices rose globally, while drinks and popcorn
spending per guest eased, AMC said in a statement Wednesday, May 8,
2024.

                    About AMC Entertainment

AMC Entertainment Holdings, Inc., is engaged in the theatrical
exhibition business. It operates through theatrical exhibition
operations segment.  It licenses first-run motion pictures from
distributors owned by film production companies and from
independent distributors.  The Company also offers a range of food
and beverage items, which include popcorn; soft drinks; candy; hot
dogs; specialty drinks, including beers, wine and mixed drinks, and
made to order hot foods, including menu choices, such as curly
fries, chicken tenders and mozzarella sticks.

AMC operates over 900 theatres with 10,000 screens globally,
including over 661 theatres with 8,200 screens in the United States
and over 244 theatres with approximately 2,200 screens in Europe.
The Company's subsidiary also includes Carmike Cinemas, Inc.

AMC was forced to close its shutter its theaters when the Covid-19
pandemic struck in March 2020. It eventually reopened its theaters
but admissions remained substantially low.

The world's biggest theater chain said in an October 2020 filing
that liquidity will be largely depleted by the end of the year or
early 2021 if attendance doesn't pick up, and it's exploring
actions that include asset sales and joint ventures.

However, AMC managed to raise $1.8 billion in 2021, capitalizing on
the rally triggered by retail investors' interest in meme stocks.

                          *     *     *

In February 2024, S&P Global Ratings raised its issuer credit
rating to 'CCC+' from 'SD' (selective default) on AMC Entertainment
Holdings Inc., the world's largest motion picture exhibitor. S&P
also raised its issue-level rating on the second-lien notes to
'CCC-' from 'D'.

The negative outlook reflects S&P's expectation that AMC's revenue
will decline 8%-9% in 2024 due to a limited theatrical release
slate, resulting in negative free operating cash flow (FOCF) and
leverage around 8x.

AMC completed a series of distressed exchanges to swap an aggregate
$123 million of its second-lien notes due 2026 for common equity.


AMC ENTERTAINMENT: Raises $250 Million New Equity Capital
---------------------------------------------------------
Ilya Banares of Bloomberg News reports that AMC Entertainment
Holdings raised about $250 million of new equity capital in ATM
offering.

AMC Entertainment Holdings completed its previously disclosed
"at-the-market" equity offering launched on March 28 and raised
about $250 million of new equity capital.

It sold 72.5 million shares, before commissions and fees, at an
average price of approximately $3.45 per share.

                   About AMC Entertainment

AMC Entertainment Holdings, Inc., is engaged in the theatrical
exhibition business.  It operates through theatrical exhibition
operations segment.  It licenses first-run motion pictures from
distributors owned by film production companies and from
independent distributors. The Company also offers a range of food
and beverage items, which include popcorn; soft drinks; candy; hot
dogs; specialty drinks, including beers, wine and mixed drinks, and
made to order hot foods, including menu choices, such as curly
fries, chicken tenders and mozzarella sticks.

AMC operates over 900 theatres with 10,000 screens globally,
including over 661 theatres with 8,200 screens in the United States
and over 244 theatres with approximately 2,200 screens in Europe.
The Company's subsidiary also includes Carmike Cinemas, Inc.

AMC was forced to close its shutter its theaters when the Covid-19
pandemic struck in March 2020. It eventually reopened its theaters
but admissions remained substantially low.

The world's biggest theater chain said in an October 2020 filing
that liquidity will be largely depleted by the end of the year or
early 2021 if attendance doesn't pick up, and it's exploring
actions that include asset sales and joint ventures.

However, AMC managed to raise $1.8 billion in 2021, capitalizing on
the rally triggered by retail investors' interest in meme stocks.

                          *     *     *

In February 2024, S&P Global Ratings raised its issuer credit
rating to 'CCC+' from 'SD' (selective default) on AMC Entertainment
Holdings Inc., the world's largest motion picture exhibitor. S&P
also raised its issue-level rating on the second-lien notes to
'CCC-' from 'D'.

The negative outlook reflects S&P's expectation that AMC's revenue
will decline 8%-9% in 2024 due to a limited theatrical release
slate, resulting in negative free operating cash flow (FOCF) and
leverage around 8x.

AMC completed a series of distressed exchanges to swap an aggregate
$123 million of its second-lien notes due 2026 for common equity.


AMKOR TECHNOLOGY: Moody's Ups CFR to Ba2 & Unsecured Notes to Ba3
-----------------------------------------------------------------
Moody's Ratings upgraded Amkor Technology, Inc.'s Corporate Family
Rating to Ba2 from Ba3, the Probability of Default Rating to Ba2-PD
from Ba3-PD and the Senior Unsecured Notes (Senior Notes) rating to
Ba3 from B1. The Speculative Grade Liquidity (SGL) rating is also
upgraded to SGL-1 from SGL-2. The outlook remains stable.

The upgrade reflects Amkor's resilience through a sharp cyclical
semiconductor market downturn. Additionally, as a result of the
company's scale, diversified manufacturing footprint, and exposure
to key secular trends, including advanced chip packaging for a
variety of applications in smartphones, wearable devices,
automotive and high-performance computing, Amkor is poised to grow
in the high single to lower-double digit percentage range beyond
its end market nadir in 2024. Higher utilization and greater
operating leverage combined with the company's cost discipline will
support several points of EBITDA margin expansion, and cash flow
generation as a result. While Amkor's business remains capital
intensive, the company has very good liquidity to support future
capital requirements.

RATINGS RATIONALE

The Ba2 CFR reflects Amkor's business position as the second
largest outsourced semiconductor assembly and test (OSAT) company
in the world after market leader Advanced Semiconductor Engineering
(ASE). Amkor holds a broad portfolio of advanced manufacturing
technologies for semiconductor chip finishing and testing and
benefits from exposure to end markets with increasing semiconductor
content. These sectors include communications (51% of revenues for
the twelve months ended March 31, 2024) and automotive & industrial
(20%).

Due to its large scale, as evidenced by revenues of approximately
$6.4 billion in the LTM period ended March 31, 2024, Amkor should
continue to benefit from the secular outsourcing trend in
semiconductor production, as semiconductor companies increasingly
outsource manufacturing as part of their "fabless" or "fab-lite"
manufacturing models.

However, the assembly and test segment of the semiconductor
industry is capital intensive and cyclical. Amkor goes through
periods of very high capital spending, which contributes to
variability in free cash flow (FCF) over time. Amkor also has high
customer revenue concentration given the structure of the market in
which it operates and the close relationship the company has with
its customers, although it may reduce the company's bargaining
power and subject it to greater revenue cyclicality.

The stable outlook reflects Moody's expectation that Amkor will
continue to maintain a conservative financial leverage profile and
very good liquidity. Moody's anticipates 2024 revenues will be
relatively flat compared to 2023, which declined about 8%. However,
Moody's expects revenue growth to rebound to a high single or low
double digit percentage range in 2025 driven by a recovering
semiconductor cycle and a continuation of secular drivers
supporting the company's advanced packaging solutions. Moody's
further expects Amkor will see modest margin improvement as
capacity utilization increases and supported by the company's
overall cost discipline. Debt to EBITDA is expected to remain below
1.5x over the next 12 to 18 months.

The SGL-1 rating reflects very good liquidity supported by nearly
$1.2 billion of cash and cash equivalents plus more than $450
million in short-term marketable securities. Liquidity is further
supported by a $600 million senior secured revolving credit
facility (Revolver) due March 2027, available to Amkor Technology
Singapore Holdings Pte. Ltd. (ATSH), which was undrawn as of March
31, 2024. In addition, Moody's expects that Amkor will generate in
excess of $1 billion in annual cash flow from operations, available
to support sizable capex investment and a modest dividend over the
next 12-18 months.

The Senior Notes are rated Ba3, which is one notch lower than the
Ba2 CFR. The Senior Notes, which are unsecured obligations of
Amkor, are structurally subordinated to the Revolver and the other
debt issued by Amkor's foreign subsidiaries with respect to the
foreign assets which secure the debt of these borrowers.

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

Amkor's ratings could be upgraded if the company's EBITDA margin
(Moody's adjusted) is sustained above 25%, FCF to debt (Moody's
adjusted) stays above 15% and Amkor maintains a very good liquidity
profile and balanced financial policies. Amkor's ratings could be
downgraded if the company's EBITDA margin (Moody's adjusted) falls
to the mid-teen percentage range, FCF to debt (Moody's adjusted)
declines to below 5% for an extended period of time, liquidity
erodes (e.g. a sizable decrease in the company's cash balance), or
financial policies become more aggressive.

Amkor Technology, Inc. (Amkor) is the world's second largest
provider of outsourced semiconductor assembly and test (OSAT)
services for both integrated semiconductor device manufacturers
(IDM) and fabless semiconductor companies.

The principal methodology used in these ratings was Semiconductors
published in October 2023.


ANCHORED CARE: Judy Wolf Weiker Named Subchapter V Trustee
----------------------------------------------------------
The U.S. Trustee for Region 10 appointed Judy Wolf Weiker of
Manewitz Weiker Associates, LLC as Subchapter V trustee for
Anchored Care Residential Services, LLC.

Ms. Weiker will be paid an hourly fee of $375 for her services as
Subchapter V trustee and will be reimbursed for work-related
expenses incurred.

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

The Subchapter V trustee can be reached at:

     Judy Wolf Weiker
     Manewitz Weiker Associates, LLC
     P.O. Box 40185
     Indianapolis, IN 46240
     Phone: 973-768-2735
     Email: JWWtrustee@manewitzweiker.com

              About Anchored Care Residential Services

Anchored Care Residential Services, LLC is a provider of home
health care services.

The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. S.D. Ind. Case No. 24-02245) on April 30,
2024. In the petition signed by Delisa Savage, owner and member,
the Debtor disclosed up to $50,000 in assets and up to $10 million
in liabilities.

Judge James M. Carr oversees the case.

David Krebs, Esq., at Hester Baker Krebs, LLC, represents the
Debtor as legal counsel.


ARC OF LIFE: Michael Markham Named Subchapter V Trustee
-------------------------------------------------------
The U.S. Trustee for Region 21 appointed Michael Markham, Esq., as
Subchapter V trustee for Arc of Life Family Spinal Care, LLC.

Mr. Markham, a partner at Johnson Pope Bokor Ruppel & Burns, 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. Markham declared that he is a disinterested person according to
Section 101(14) of the Bankruptcy Code.

The Subchapter V trustee can be reached at:

     Michael C. Markham, Esq.
     Johnson Pope Bokor Ruppel & Burns, LLP
     401 E. Jackson Street, Suite 3100
     Tampa, FL 33602
     Phone: (727) 480-5118
     Email: Mikem@jpfirm.com

               About Arc of Life Family Spinal Care

Arc of Life Family Spinal Care, LLC operates a health care
business.

The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. M.D. Fla. Case No. 24-00611) on April 30,
2024, with $1 million to $10 million in assets and $500,000 to $1
million in liabilities. Drew-Montez Clark, manager, signed the
petition.

Judge Caryl E. Delano presides over the case.

Scott A. Stichter, Esq., at Stichter, Riedel, Blain & Postler, P.A.
represents the Debtor as legal counsel.


ARC ONE PROTECTIVE: Aaron Cohen Named Subchapter V Trustee
----------------------------------------------------------
The U.S. Trustee for Region 21 appointed Aaron Cohen, Esq., a
practicing attorney in Jacksonville, Fla., as Subchapter V trustee
for Arc One Protective Services, LLC.

Mr. Cohen will be paid an hourly fee of $315 for his services as
Subchapter V trustee and will be reimbursed for work-related
expenses incurred.

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

The Subchapter V trustee can be reached at:

     Aaron R. Cohen, Esq.
     P.O. Box 4218
     Jacksonville, FL 32201
     Tel: (904) 389-7277
     Email: aaron@arcohenlaw.com

                 About Arc One Protective Services

Arc One Protective Services, LLC sought protection under Chapter 11
of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 24-02191) on
May 1, 2024, with $50,001 to $100,000 in assets and $100,001 to
$500,000 in liabilities.

Judge Grace E. Robson presides over the case.

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


ARNOLD BROTHERS: Daniel Behles Named Subchapter V Trustee
---------------------------------------------------------
The U.S. Trustee for Region 14 appointed Daniel Behles as
Subchapter V trustee for Arnold Brothers Forest Products, Inc.  

Mr. Behles will be paid an hourly fee of $300 for his services as
Subchapter V trustee and will be reimbursed for work-related
expenses incurred.

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

The Subchapter V trustee can be reached at:

     Daniel J. Behles
     709 El Alhambra Circle NW
     Los Ranchos, NM 87107
     Phone: (505) 238-0208
     Email: djbehles@gmail.com
            dbehles@askewlawfirm.com

              About Arnold Brothers Forest Products

Arnold Brothers Forest Products, Inc. operates a business making
packaging and selling cooking wood and other wood products.

The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. E.D. Okla. Case No. 24-80318) on April 30,
2024. In the petition signed by James Belcher, president, the
Debtor disclosed up to $50,000 in assets and up to $10 million in
liabilities.

Judge Paul R. Thomas oversees the case.

Jeffery Barclay Potts, Esq., at Jeff Potts, represents the Debtor
as legal counsel.


BALADE YOUR WAY: Heidi Sorvino Named Subchapter V Trustee
---------------------------------------------------------
The U.S. Trustee for Region 2 appointed Heidi Sorvino, Esq., at
White and Williams, LLP as Subchapter V trustee for Balade Your
Way, Inc., and Great Caterers LLC.

Ms. Sorvino will be paid an hourly fee of $950 for her services as
Subchapter V trustee and will be reimbursed for work-related
expenses incurred.

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

The Subchapter V trustee can be reached at:

     Heidi J. Sorvino, Esq.
     White and Williams, LLP
     7 Times Square, Suite 2900
     New York, NY 10036-6524
     Phone: 212-631-4417
     Email: Sorvinoh@whiteandwilliams.com

                       About Balade Your Way

Balade Your Way, Inc. is a full-service restaurant in New York,
which specializes in Middle Eastern cuisine.

Balade Your Way and its affiliate, Great Caterers, LLC, filed their
petitions under Chapter 11, Subchapter V of the Bankruptcy Code
(Bankr. S.D.N.Y. Case Nos. 23-11384 and 23-11383) on Aug. 30, 2023.
At the time of the filing, Balade Your Way reported $100,000 to
$500,000 in assets and $1 million to $10 million in liabilities
while Great Caterers reported $100,001 to $500,000 in assets and $1
million to $10 million in Liabilities.

Jonathan S. Pasternak, Esq., at Davidoff Hutcher & Citron, LLP
represents the Debtors as legal counsel.


BALL CORP: Moody's Alters Outlook on 'Ba1' CFR to Stable
--------------------------------------------------------
Moody's Ratings affirmed Ball Corporation's (Ball Corp) Ba1
corporate family rating, Ba1-PD Probability of Default Rating, Ba1
senior unsecured notes ratings, and Baa3 senior secured bank credit
facility ratings.  The Speculative Grade Liquidity rating (SGL) is
unchanged at SGL-2.  The outlook has been changed to stable from
negative.

The stable outlook reflects the improvement in credit metrics and
cash flow resulting from management's partial allocation of the
aerospace sale proceeds toward debt reduction.  

"Although Ball Corp lost some business diversification with its
aerospace sale, the company remains the largest player in the
consolidated aluminum can industry, and has returned its balance
sheet and cash flow back to a position that provides increased
financial strength and flexibility," said Scott Manduca, Vice
President at Moody's Ratings.

Ball Corp's sale of the aerospace business and allocation of about
half of the $4.6 billion in after tax proceeds to debt reduction
has significantly strengthened the balance sheet.  Industry
destocking in the aluminum can business has been completed and
volumes are beginning to show sequential improvement.  The company
will continue its cost reduction initiatives, including plant
rationalization, which will become more impactful as volumes
improve.

RATINGS RATIONALE

Ball Corp's Ba1 CFR reflects a very strong business profile
supported by the company's scale in the consolidated aluminum can
industry, long-term customer contracts that create high switching
costs, and an elite position along the supply chain ensuring raw
material needs.   The company also has sophisticated innovation
abilities that anchor its strong competitive position in the
rapidly growing custom can market, which accounts for around 45% of
Ball Corp's annual revenue.  While Ball Corp's business profile has
become less diversified with the completed sale of the aerospace
business (about 15% of revenue), the company's will remain the
largest aluminum can manufacturer in the global metal can market.

Ball Corp's credit profile is constrained by its high debt
leverage, financial policy that includes share repurchases and
dividends, and high customer and product concentration of sales.
Moody's expects Ball Corp to balance shareholder rewards with
maintaining at least the existing strength of the balance sheet in
line with its leverage target range of around 3.0x (company
calculated).

Ball Corp has a good liquidity position with about $1.7 billion of
revolver availability and $1.7 billion of cash at the end of the
first quarter ended March 31, 2024.

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

A ratings upgrade would a less aggressive financial policy and a
migration to an investment grade capital structure. Specifically,
the ratings could be upgraded if adjusted total debt-to-EBITDA is
sustained below 3.5x, free cash flow-to-debt above 10%, and
EBITDA-to-interest greater than 6.0x.

A ratings downgrade may occur if there is a deterioration in the
company's business profile, credit metrics, or liquidity.
Specifically, if adjusted total debt-to-EBITDA is above 4.25x
without a reasonable path to fall below this threshold, free cash
flow-to-debt falls below 7%, and EBITDA-to-interest is below 5.5x.

Westminster, Colorado based Ball Corporation is a global aluminum
packaging company that produces a variety of aluminum cans,
primarily for beverages.  Revenue for the twelve months ended March
31, 2024 of $13.9 billion.        

The principal methodology used in these ratings was Packaging
Manufacturers: Metal, Glass and Plastic Containers published in
December 2021.


BANGL LLC: Moody's Affirms 'B2' CFR & Alters Outlook to Stable
--------------------------------------------------------------
Moody's Ratings changed BANGL, LLC's outlook to stable from
positive. The B2 Corporate Family Rating, B2-PD Probability of
Default Rating, B2 senior secured Term Loan B (TLB) rating, and Ba2
senior secured superior priority revolving credit facility ratings
were affirmed.

"The change in BANGL's outlook reflects the company fully debt
financing the remaining capital associated with its current growth
project, resulting in a more elevated leverage profile during the
buildout of its NGL transportation system, and delaying further
into the future the expected decline in financial leverage that
would support higher ratings." said Jake Leiby, Moody's Vice
President and Senior Analyst.

RATINGS RATIONALE

BANGL's B2 CFR reflects its growing scale, long-term contracts with
high-quality counterparties and price escalators, and strategic
alignment with and importance to the operations of its owners,
particularly its operator MPLX LP (MPLX, Baa2 stable). The rating
is constrained by its relatively small current cash flow
generation, inherent execution risks on capital projects, volume
risk despite the presence of minimum volume commitments (MVCs) on
affiliated assets, and the significant leverage the company is
carrying through its construction period.

BANGL's existing footprint in the in the Midland and Delaware
Basins and plant dedications from MPLX and West Texas Gas (WTG)
support its credit profile. BANGL is exposed to volumetric risk
despite minimum volume commitments that exist on its owner's
assets, however, its fee-based contracts mitigate direct commodity
price exposure. Operational and gas specification issues at BANGL's
dedicated natural gas processing plants have resulted in
lower-than-expected pipeline throughputs over the past 10 months,
although Moody's expects EBITDA generation in 2024 to be similar to
prior expectations due to cost improvements and limited financial
impact of lower volumes impacting only temporary and low-margin
offload arrangements.

Moody's expects that BANGL will have adequate liquidity through
2025, sufficient to fund its current growth projects in progress.
Upon completion of the incremental Term Loan B issuance, the
company is expected to have $220 million of cash on hand and full
availability under its $50 million super-priority revolving credit
facility. BANGL's current cash flow generation is low and it will
require the majority these funds to complete the Gardendale to
Sweeny extension and pump expansion on the BANGL mainline to
increase pipeline capacity, which Moody's expects to result in a
minimal cash balance and a limited amount of of borrowing capacity
at the end of 2024. BANGL's free cash flow generation will improve
in the first quarter of 2025 because of contractual rate hikes and
elimination of lease expenses combined with growth capital spending
declines, and Moody's expects BANGL's first priority for free cash
flow generation to be paying down revolver borrowings. The revolver
and term loan contain financial covenants requiring BANGL to
maintain a debt service coverage ratio of no less than 1.1x and
super priority net leverage ratio of no more than 1.25x. Moody's
expects BANGL to remain in compliance with its covenants through at
least mid-2025.

BANGL's Term Loan B due in 2029 is rated B2, the same as the B2
CFR. The TLB is secured on a parri passu basis with the superior
priority revolving credit facility but is subordinated by the
revolver's first-out priority repayment. The super priority
revolving credit facility due in 2028 is rated Ba2, three notches
above the CFR, reflecting its relatively small size and
structurally senior position in the capital structure. The super
priority revolver is secured by substantially all of the company's
present and future assets on a first-out basis.

The stable outlook reflects Moody's expectation that the Gardendale
to Sweeny extension will be successfully completed, resulting in a
significant improvement in BANGL's EBITDA generation and leverage
during 2025.

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

An upgrade of BANGL's ratings could be considered if the company
completes its current expansion project in-line with forecasts,
while sustaining leverage below 5x, and prudently funds any
potential additional expansion projects.

BANGL's ratings could be downgraded if leverage does not fall below
6x as expected, potentially due to delays or overruns on its
existing expansion project and/or potential additional growth
projects funded with debt.

BANGL, LLC is a privately owned pipeline system that transports NGL
barrels from the Permian to fractionation and purity markets on the
Gulf Coast. The company is a joint venture between WhiteWater
(45%), MPLX LP (25%), WTG Midstream (20%), and DiamondBack Energy
(10%). BANGL is an NGL pipeline system that provides transportation
services from the Permian to fractionation and purity markets on
the Gulf Coast. Commercial operations commenced in 2020 and the
company currently benefits from 100+ miles of wholly-owned in-basin
pipe and 320+ miles of mainline pipe through an Undivided Joint
Interest with EPIC Y-Grade Services, LP (B3 stable).

The principal methodology used in these ratings was Midstream
Energy published in February 2022.


BED BATH: Sues Hudson Bay to Recover $300 Mil. Trading Gains
------------------------------------------------------------
Miles Weiss and Eliza Ronalds-Hannon of Bloomberg News report the
former Bed Bath & Beyond Inc., seeking to generate cash for its
creditors, sued to recover more than $300 million in trading
profits from Hudson Bay Capital Management, the hedge fund at the
center of a last-ditch financing plan that failed to prevent the
retailer’s collapse.

The former retailer filed a lawsuit last week claiming that, behind
the scenes, Hudson Bay orchestrated the terms for a February 2023
offering so it could acquire a huge, cut-rate stake in Bed Bath
without having to disclose the ownership under a little-known rule
for corporate insiders.

                    About Bed Bath & Beyond

Bed Bath & Beyond Inc., together with its subsidiaries, is an
omnichannel retailer selling a wide assortment of merchandise in
the Home, Baby, Beauty & Wellness markets and operates under the
names Bed Bath & Beyond, buybuy BABY, and Harmon, Harmon Face
Values.  The Company also operates Decorist, an online interior
design platform that provides personalized home design services.

At its peak, Bed Bath & Beyond operated the largest home furnishing
retailer in the United States with over 970 stores across all 50
states, consistently at the forefront of major home and bath
trends. Operating stores spanning the United States, Canada,
Mexico, and Puerto Rico, Bed Bath & Beyond offers everything from
bed linens to cookware to electric appliances, home organization,
baby care, and more.

Bed Bath & Beyond closed over 430 locations across the United
States and Canada before filing Chapter 11 cases, implementing
full-scale wind-downs of their Canadian business and the Harmon
branded stores.

Left with 360 Bed Bath & Beyond, and 120 buybuy BABY stores, Bed
Bath & Beyond Inc. and 73 affiliated debtors on April 23, 2023,
each filed a voluntary petition for relief under Chapter 11 of the
United States Bankruptcy Code to pursue a wind-down of operations.
The cases are pending before the Honorable Vincent F. Papalia and
requested joint administration of the cases under Bankr. D.N.J.
Lead Case No. 23-13359.

Kirkland & Ellis LLP and Cole Schotz P.C. are serving as legal
counsel, Lazard Frares & Co. LLC is serving as investment banker,
and AlixPartners LLP is serving as financial advisor.  Bed Bath &
Beyond Inc. has retained Hilco Merchant Resources LLC to assist
with inventory sales. Kroll LLC is the claims agent.


BEN NYE CO: Hits Chapter 11 Bankruptcy to Prevent Talc Lawsuits
---------------------------------------------------------------
Travis Rodgers of asbestos.com reports that makeup brand Ben Nye
Co. Inc. files for bankruptcy protection to avoid talc lawsuits.

Professional makeup brand Ben Nye, popular with film, stage and
modeling makeup artists, has filed Chapter 11 bankruptcy protection
in the midst of lawsuits. The suits claim its products contain
asbestos-contaminated talc. The move could allow the company to
reorganize while putting its many talc lawsuits on hold.

The company says it stopped using talc in its face powders in
January 2024, but talc is still being used in other products. Ben
Nye's talc suppliers claim they conducted an analysis and no
asbestos was ever found in the talc they provided to the company.

According to a March 11, 2024 bankruptcy filing, Ben Nye has
estimated assets of about $1 million to $10 million and liabilities
estimated at $100,000 to $500,000. The company says it has enough
cash to stay in business and has no plans to change the quality of
its product. Ben Nye claims the bankruptcy won't affect wages and
benefits for its 35 employees in Los Angeles.

In a letter emailed to the digital publication Beauty Independent,
Ben Nye president Dana Nye wrote: "The company has incurred
monumental legal fees to defend itself. As a family-owned company
we reached the point where we could not continue to pay such
fees…"

Nye continued, "Despite the painful bankruptcy process, we believe
this is the best decision to protect our business. This will allow
us to move forward to focus on our business rather than to
constantly fight claims thrown at us."

                        Asbestos in Makeup

This isn't the first time there have been reports of asbestos in
makeup from popular brands. Retailer Claire's issued recalls for 9
products after reports started coming out that the items tested
positive for chrysotile asbestos in 2017.

Claire's again issued a recall in 2019 over concerns about asbestos
contamination in a JoJo Siwa makeup set marketed to young girls.
That set tested positive for asbestos according to the U.S. Food
and Drug Administration. That same year Beauty Plus Global Inc.
also issued a recall of 4 of its City Color makeup products that
tested positive for asbestos.

Talc is a common ingredient in eye shadows, blushes, foundations
and creams. Talc creates a soft texture, absorbs moisture and acts
as a filler in a number of products. But talc can become easily
contaminated with asbestos since both minerals are naturally found
close together within the earth.

          Connection Between Talc, Asbestos and Mesothelioma

Talcum powder is also at the center of Johnson & Johnson's more
than 50,000 cases still awaiting trial. The lawsuits center on
claims of asbestos-contaminated talcum powder that caused
mesothelioma, ovarian cancer and other asbestos-related diseases.

Despite thousands of lawsuits and court documents showing that J&J
executives knew about the company’s asbestos liabilities as far
back as the 1950s, the company insists that its talc-based products
do not cause cancer. Inhaling or ingesting microscopic asbestos
fibers can result in inflammation, scarring or respiratory problems
decades after initial exposure.

Asbestos exposure is the primary cause of mesothelioma. The disease
typically has a latency period of 20 to 60 years between initial
asbestos exposure and the development of symptoms.

                   About Ben Nye Co., Inc.

Ben Nye is a professional makeup brand serving artists, educators,
and makeup fans worldwide. The Ben Nye brand has broadened to
encompass every genre of makeup including performance, beauty and
special effects.

Ben Nye Co., Inc. in Los Angeles, CA, filed its voluntary petition
for Chapter 11 protection (Bankr. C.D. Cal. Case No. 24-11857) on
March 11, 2024, listing $1 million to $10 million in assets and
$100,000 to $500,000 in liabilities. Dana Nye as president and CEO,
signed the petition.

Judge Deborah J Saltzman oversees the case.

LEVENE, NEALE, BENDER, YOO & GOLUBCHIK LLP serve as the Debtor's
legal counsel. Armory Consulting Co. as financial advisor.


BESTWALL LLC: SC Refuses to Weigh Texas 2-Step Asbestos Bankruptcy
------------------------------------------------------------------
Evan Ochsner of Bloomberg Law reports that the Supreme Court
declined to weigh in on a key element of the bankruptcy strategy
that some companies use to shield themselves from liability.

Justices on Monday, May 13, 2024, declined to hear whether
manufacturing giant Georgia-Pacific can obtain a litigation shield
through the bankruptcy of Bestwall LLC, an affiliate it created to
handle asbestos lawsuits. After Georgia-Pacific placed Bestwall
into bankruptcy in 2017, it obtained a court order protecting
itself from liability.

The litigation shield is a core benefit of the Texas Two-Step, a
legal strategy in which a company creates a corporate entity,
transfers liability to it and places it into bankruptcy, thereby
obtaining a pause on litigation. Johnson & Johnson has also
attempted to use the maneuver to address widespread claims that its
talc products caused cancer.

Asbestos claimants asked the US Court of Appeals for the Fourth
Circuit to determine that the legal protection granted by the US
Bankruptcy Court for the Western District of North Carolina
couldn't be extended to Georgia-Pacific. The Fourth Circuit
rejected their arguments.

Claimants asked the Supreme Court to consider whether bankruptcy
courts have the jurisdiction to grant litigation shields to
companies, like Georgia-Pacific, that aren't themselves bankrupt.
They also asked the court to determine if bankruptcy courts have
the authority to take action not specifically granted to them by
the bankruptcy code.

Bankruptcy judges in the Western District of North Carolina, where
multiple two-step cases are pending, have repeatedly asked higher
courts to consider the unique legal questions raised by the
strategy.

Bestwall is represented by Jones Day and Robinson Bradshaw & Hinson
PA. Georgia-Pacific is represented by Debevoise & Plimpton LLP and
Rayburn Cooper & Durham PA. Claimants are represented by Robinson &
Cole LLP and Kellogg Hansen Todd Figel & Frederick PLLC.

The case is Committee of Asbestos Claimants v. Bestwall LLC, U.S.,
No. 23-675, 5/13/24.

                     About Bestwall LLC

Bestwall LLC -- http://www.Bestwall.com/-- was created in an
internal corporate restructuring and now holds asbestos
liabilities.  Bestwall's asbestos liabilities relate primarily to
joint systems products manufactured by Bestwall Gypsum Company, a
company acquired by Georgia-Pacific in 1965. The former Bestwall
Gypsum entity manufactured joint compounds containing small amounts
of chrysotile asbestos; the manufacture of these
asbestos-containing products ceased in 1977.

Bestwall's non-debtor subsidiary, GP Industrial Plasters LLC
("PlasterCo"), develops, manufactures, sells and distributes gypsum
plaster products, including gypsum floor underlayment, industrial
plaster, metal casting plaster, industrial tooling plaster, dental
plaster, medical plaster, arts and crafts plaster, pottery plaster
and general purpose plaster.

On Nov. 2, 2017, Bestwall sought Chapter 11 protection (Bankr.
W.D.N.C. Case No. 17-31795) in an effort to equitably and
permanently resolve all its current and future asbestos claims. The
Debtor estimated assets and debt of $500 million to $1 billion.  It
has no funded indebtedness.

The Hon. Laura T. Beyer is the case judge.

The Debtor tapped Jones Day as bankruptcy counsel; Robinson,
Bradshaw & Hinson, P.A., as local counsel; Schachter Harris, LLP as
special litigation counsel for medicine science issues; King &
Spalding as special counsel for asbestos matters; and Bates White,
LLC, as asbestos consultants. Donlin Recano LLC is the claims and
noticing agent.

On Nov. 8, 2017, the U.S. bankruptcy administrator appointed an
official committee of asbestos claimants in the Debtor's case.  The
committee retained Montgomery McCracken Walker & Rhoads, LLP as
legal counsel; and Hamilton Stephens Steele + Martin, PLLC and JD
Thompson Law as local counsel.

On Feb. 22, 2018, the court approved the appointment of Sander L.
Esserman as the future claimants' representative in the Debtor's
case. Mr. Esserman tapped Young Conaway Stargatt & Taylor, LLP, as
legal counsel; Hull & Chandler, P.A., as local counsel; Ankura
Consulting Group, LLC, as claims evaluation consultant; and FTI
Consulting, Inc., as financial advisor.


BOMBARDIER INC: Moody's Rates New 2032 Unsecured Notes 'B1'
-----------------------------------------------------------
Moody's Ratings assigned a B1 rating to Bombardier Inc.'s proposed
senior unsecured notes due 2032. Proceeds will be used to finance
the repurchase of its notes due in 2026 and 2027. The company's B1
corporate family rating, B1-PD probability of default rating, SGL-2
speculative grade liquidity rating (SGL), B1 senior unsecured notes
rating, and stable outlook remain unchanged.

RATINGS RATIONALE

Bombardier benefits from: 1) good liquidity over the next year; 2)
significant scale; 3) a strong market position within the business
jet market; and 4) a $14.9 billion backlog. Bombardier's rating is
constrained by: 1) high fixed charges of about $700 million per
year (interest and capital expenditures) that can constrain the
company's free cash flow; and 2) its participation in the cyclical
business jet market which has a number of strong competitors and a
niche consumer base.

Bombardier has good liquidity over the next year (SGL-2), with
about $1.7 billion of sources versus about $150 million of uses.
Sources are cash of about $1.2 billion at Q1/24, $236 million
available on its secured revolving credit facility ($300 million
ABL facility that expires in 2027), and about $300 million in free
cash flow through to March 2025. Bombardier has no maturities until
June 2026. Uses are about $150 million of financial liabilities
(excluding term debt but including items such as lease liabilities,
liabilities related to various divestitures and government
refundable advances). Bombardier does have significant inter
quarter working capital swings that require the company hold ample
liquidity.

The stable outlook reflects Moody's expectation that Bombardier
will continue to generate free cash flow and that margins and
financial leverage will improve in 2024 and 2025.

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

The ratings could be upgraded if debt to EBITDA is maintained below
4x and the company continues to generate positive free cash flow.

The ratings could be downgraded if Bombardier sees a deterioration
in its operating performance or there are problems with its ability
to deliver aircraft in line with its guidance. Quantitatively, the
rating could also be downgraded if debt to EBITDA is sustained
above 5.5x or EBIT to Interest falls below 1.5x.

The principal methodology used in this rating was Aerospace and
Defense published in October 2021.

Headquartered in Montreal, Quebec, Canada, Bombardier Inc. is a
manufacturer of business jets.


BOY SCOUTS: Changes Name to Scouting America to Move Past Woes
--------------------------------------------------------------
Jamie Stengle of APNews reports that Boy Scouts of America changing
name to more inclusive Scouting America after years of woes.

The Boy Scouts of America announced after 114 years that it will
change its name and will become Scouting America in an effort to
emphasize inclusion as it works to move past the turmoil of
bankruptcy and a flood of sexual abuse claims.

The rebrand is another seismic shift for an organization steeped in
tradition that did not allow gay youths or girls to begin joining
its ranks until relatively recently. Seeking to boost flagging
membership numbers, the Irving, Texas-based organization announced
the name change Tuesday at its annual meeting in Florida.

"In the next 100 years we want any youth in America to feel very,
very welcome to come into our programs," Roger Krone, who took over
last fall as president and chief executive officer, told The
Associated Press in an interview before the announcement.

The change will officially take effect on Feb. 8, 2025, timed to
the organization’s 115th birthday.

The organization began allowing gay youth in 2013 and ended a
blanket ban on gay adult leaders in 2015. In 2017, it made the
historic announcement that girls would be accepted as Cub Scouts as
of 2018 and into the flagship Boy Scout program — renamed Scouts
BSA — in 2019. Over 6,000 girls have now achieved the vaunted
Eagle Scout rank.

The Girl Scouts of the USA, a separate organization, has clashed
with the Boy Scouts in recent years over its recruitment of girls.
The Girl Scouts did not respond to requests seeking comment
Tuesday.

A wave of reaction to the change on social media included criticism
that the word "boy" will no longer appear in the name, including
from Republican Sen. Ted Cruz of Texas.

Like other organizations, the Boy Scouts of America lost members
during the pandemic, when participation was difficult. After a high
point over the last decade of over 2 million members in 2018, the
organization currently serves just over 1 million youths, including
more than 176,000 girls and young women. Membership peaked in 1972
at almost 5 million.

Generations of scouts have included eventual presidents (among them
Bill Clinton and Gerald Ford), astronauts (Buzz Aldrin) and
celebrities (actor Harrison Ford, filmmaker Steven Spielberg).
Krone said the organization must continue to attract newcomers.

"Part of my job is to reduce all the barriers I possibly can for
people to accept us as an organization and to join," he said.

There were nearly 1,000 young women in the inaugural class of
female Eagle Scouts in 2021, including Selby Chipman. The all-girls
troop she was a founding member of in her hometown of Oak Ridge,
North Carolina, has grown from five girls to nearly 50, and she
thinks the name change will encourage even more girls to join.

"Girls were like: 'You can join Boy Scouts of America?'" said
Chipman, now a 20-year-old college student and assistant
scoutmaster of her troop.

Rebranding can risk alienating supporters who think the change is
unnecessary, said David Aaker, vice chairman of the national
branding and marketing firm Prophet. But he described the Boy
Scouts' rebranding as savvy, saying it kickstarts a new
conversation about the organization while not being so drastic that
it strays too far from its original scouting mission.

"It's a one-time chance to tell a new story," said Aaker, who also
is a professor emeritus at the University of California-Berkeley
Haas business school.

The move to accept girls throughout the Boy Scout ranks strained a
bond with the Girl Scouts of the USA, which sued, saying it created
marketplace confusion and damaged its recruitment efforts. They
reached a settlement agreement after a judge rejected those claims,
saying both groups are free to use words like "scouts" and
"scouting."

Past pressure to allow girls into the Boy Scouts had come from
those including the National Organization for Women, which
applauded Tuesday's announcement.

Much of the online criticism invoked the word "woke," including
Rep. Andrew Clyde, a Georgia Republican, who said on X: "Wokeness
destroys everything it touches."

                     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.

The Debtors obtained confirmation of their Third Modified Fifth
Amended Chapter 11 Plan of Reorganization (with Technical
Modifications) on September 8, 2022. The Order was affirmed on
March 28, 2023. The Plan was declared effective on April 19,
2023.

The Hon. Barbara J. House (Ret.) has been appointed as trustee of
the BSA Settlement Trust.


BRIDLE PATH: Files Amendment to Disclosure Statement
----------------------------------------------------
Bridle Path Partners, LLC submitted an Amended Disclosure Statement
in connection with the Amended Plan of Reorganization, as
Modified.

As anticipated when the Debtor filed its Petition, the Debtor has
generated little cash during the pendency of this case, primarily
from the rental income from the Troy Lowe farming lease.

Because of the nature of real estate developments, the Debtor
anticipates that it will generate substantial income from the sale
of lots and other business ventures on the Property. In the
interim, the Debtor also anticipates receiving a substantial cash
infusion from Lotus Acquisitions, LLC to provide adequate
protection or otherwise satisfy creditors' claims under the Plan.

The Plan provides for the continued operation of the Debtor after
confirmation by the reorganized Debtor. Repayment of claims will be
made from funds generated from the reorganized Debtor's operations,
future revenue, cash on hand, additional financing, or any other
source available to the reorganized Debtor.

The Debtor anticipates that the undisputed nonpriority unsecured
claims of non-insiders will be paid in full within 30 days from the
effective date of the Plan. Such payment under the Plan will be in
full satisfaction of the respective unsecured claims of these
creditors. No interest will be paid on the nonpriority unsecured
claims.

The Plan also provides for the treatment of a single disputed
nonpriority unsecured claim. Unless otherwise ordered by the Court,
this creditor will receive no distribution under the Plan. Finally,
equity members of the Debtor or reorganized Debtor will receive no
distribution under the Plan on account of their equity interest
until such time as all creditors with allowed claims in this case
are paid in full.

Class 2 contains the nonpriority unsecured claims which includes
the claims of Reeve & Associates, Inc. in the amount of $268,417.00
and Smith Harvigsen PLLC in the amount of $13,081.00. These
creditors will be paid in full by the reorganized Debtor. No
interest will be paid on these claims. Such payment under the Plan
will be in full satisfaction of the respective unsecured claims of
the creditors in Class 2.

Class 2 also contains the disputed claim of the City of Wellsville,
which was not listed on the Debtor's original Schedule F because
the Debtor did not believe that Wellsville was a creditor of the
Debtor. To the extent that the Debtor includes Wellsville's Claim
in Class 2, the Debtor hereby requests that the Court estimate
Wellsville's Claim at $0.00 for purposes of voting and distribution
under the Plan until such time as the Debtor's objection to
Wellsville's Claim is resolved.

Based upon the REPC, the Debtor will transfer or sell and Lotus
will purchase a 51% undivided Tenant in Common interest in the
Property for the sum of $5,000,000.00 in cash, plus such other
amounts that the Court determines would be owing to MGT in
connection with the adversary proceeding.

Lotus is an independent company with no ties to the Debtor and as
such this REPC transaction is an arm's length transaction.
Moreover, the Debtor has made no representations or promises to
Lotus other than as set forth in the REPC. Thus, the Debtor
believes that Lotus is a good faith purchaser. Accordingly, by way
of confirmation of the Plan, the Debtor is also seeking approval of
the sale of a 51% Tenant in Common interest in the Property to
Lotus pursuant to the terms of the REPC.

The Bankruptcy Court has scheduled June 28, 2024 as the hearing on
confirmation of the Plan. Objections to confirmation of the Plan
must be filed on or before June 10, 2024.

A full-text copy of the Amended Disclosure Statement dated May 9,
2024 is available at https://urlcurt.com/u?l=BJfIyk from
PacerMonitor.com at no charge.

Attorneys for the Debtor:

     Andres Diaz, Esq.
     Timothy J. Larsen, Esq.
     DIAZ &LARSEN
     757 East South Temple, Suite 201
     Salt Lake City, UT 84102
     Tel: (801) 596-1661
     Fax: (801) 359-6803
     E-mail: courtmail@adexpresslaw.com

        About Bridle Path Partners

Bridle Path Partners, LLC, a company in Alpine, Utah, offers
leather and hide tanning and finishing services.

Bridle Path Partners filed a petition under Chapter 11, Subchapter
V of the Bankruptcy Code (Bankr. D. Utah Case No. 23-23960) on
Sept. 8, 2023, with $10 million to $50 million in assets and $1
million to $10 million in liabilities. Patrick B. Burns of Lync
Construction, LLC, managing member of Bridle Path Partners, signed
the petition.

Judge Kevin R. Anderson oversees the case.

The Debtor tapped Andres Diaz, Esq., at Diaz & Larsen as bankruptcy
counsel and Scott R. Bridge, Esq., at Kesler Rust as special
counsel.


BRONGUS INC: Robert Handler Named Subchapter V Trustee
------------------------------------------------------
The U.S. Trustee for Region 11 appointed Robert Handler of
Commercial Recovery Associates, LLC as Subchapter V trustee for
Brongus, Inc.

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

The Subchapter V trustee can be reached at:

     Robert P. Handler
     Commercial Recovery Associates, LLC
     205 West Wacker Drive, Suite 918
     Chicago, IL 60606
     Tel: (312) 845-5001 x221
     Email: rhandler@com-rec.com

                         About Brongus Inc.

Brongus, Inc. sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. N.D. Ill. Case No. 24-06414) on April 30,
2024, with up to $50,000 in assets and up to $500,000 in
liabilities.

Judge Jacqueline P. Cox presides over the case.

Paul M. Bach, Esq., at Bach Law Offices represents the Debtor as
bankruptcy counsel.


BUILT BY KCE: John Whaley Named Subchapter V Trustee
----------------------------------------------------
The U.S. Trustee for Region 21 appointed John Whaley, a practicing
accountant in Atlanta, Ga., as Subchapter V trustee for Built by
KCE, Inc.

Mr. Whaley will be paid an hourly fee of $410 for his services as
Subchapter V trustee and will be reimbursed for work-related
expenses incurred.

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

The Subchapter V trustee can be reached at:

     John T. Whaley, CPA
     P.O. Box 76362
     Atlanta, GA 30358
     Phone: 404-946-5272
     Email: trustee@jtwcpa.net

                        About Built by KCE

Built by KCE, Inc. sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. N.D. Ga. Case No. 24-54629) on May 6, 2024,
with $500,001 to $1 million in assets and liabilities.

Michael D. Robl, Esq., at Robl Law Group, LLC represents the Debtor
as legal counsel.


CAMP RIM ROCK: Holly Smith Miller Named Subchapter V Trustee
------------------------------------------------------------
The U.S. Trustee for Regions 3 and 9 appointed Holly Miller, Esq.,
at Gellert Scali Busenkell & Brown, LLC as Subchapter V trustee for
Camp Rim Rock, LLC.

Ms. Miller will be paid an hourly fee of $425 for her services as
Subchapter V trustee and will be reimbursed for work-related
expenses incurred.

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

The Subchapter V trustee can be reached at:

     Holly S. Miller, Esq.
     Gellert Scali Busenkell & Brown, LLC
     1628 John F. Kennedy Boulevard, Suite 1901
     Philadelphia, PA 19103
     Telephone: (215) 238-0012
     Facsimile: (215) 238-0016
     Email: hsmiller@gsbblaw.com

                        About Camp Rim Rock

Camp Rim Rock, LLC is an overnight camp for girls. Campers can
participate in five daily activities: Horseback Riding, Performing
Arts, Aquatics, Arts & Crafts, and Sports.

The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. E.D. Pa. Case No. 24-11498) on May 2, 2024,
with $1 million to $10 million in assets and liabilities. Joseph
Greitzer, sole member, signed the petition.

Judge Ashely M. Chan presides over the case.

David B. Smith, Esq., at Smith Kane Holman, LLC represents the
Debtor as legal counsel.


CAREER MATCHING: Samuel Dawidowicz Named Subchapter V Trustee
-------------------------------------------------------------
The U.S. Trustee for Region 2 appointed Samuel Dawidowicz as
Subchapter V trustee for Career Matching Platform, Inc.

Mr. Dawidowicz will be paid an hourly fee of $525 for his services
as Subchapter V trustee and will be reimbursed for work-related
expenses incurred.   

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

The Subchapter V trustee can be reached at:

     Samuel Dawidowicz
     215 East 68th Street
     New York, NY 10065
     Phone: (917) 679-0382

                   About Career Matching Platform

Career Matching Platform, Inc. is an online career platform helping
job seekers find their next career without ads, misleading links or
any spam emails or text.

Career Matching Platform filed its voluntary petition for relief
under Chapter 11 of the Bankruptcy Code (Bankr. S.D.N.Y. Case No.
24-10792) on May 7, 2024, listing $402,899 in assets and $1,926,406
in liabilities. The petition was signed by Boris Rozman as managing
member.

Judge Martin Glenn presides over the case.

Dawn Kirby, Esq., at Kirby Aisner & Curley, LLP represents the
Debtor as counsel.


CELSIUS NETWORK: Stretto's Phishing Attack Affects Creditors
------------------------------------------------------------
Jonathan Randles of Bloomberg News reports that a recent hack of
legal services provider Stretto Inc. that compromised Celsius
Network LLC customer information was wider than previously known,
affecting at least four firms in all.

The attack affected creditors of bankrupt crypto lender Celsius as
well as three other companies to which Stretto provided bankruptcy
related administrative services, a Stretto lawyer said during a
Tuesday, May 14, 2024, hearing in New York. The company said it
learned it had been the target of a phishing attack on April 17,
2024.

                      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 as bankruptcy counsel;
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.


CENTER FOR ALLERGIC: Unsecureds Will Get 100% over 60 Months
------------------------------------------------------------
Center for Allergic Diseases, LLC filed with the U.S. Bankruptcy
Court for the District of Maryland a Disclosure Statement for Small
Business describing Plan of Reorganization dated May 9, 2024.

The Debtor is a limited liability company. The entity was
incorporated in 2012. The sole member of Debtor, Sampson Sarpong,
was a licensed medical doctor.

The Debtor operated medical facilities in each of the properties
located at 12150 Annapolis Road, Bowie, Maryland and 4255 Altamont
Place, Unit 202, White Plains, Maryland. During this time period,
he had two employees. In 2017 he no longer practiced medicine, at
which time, Debtor leased the commercial properties to third
party.

The only insider to the Debtor, is the sole member of the Debtor,
Sampson Sarpong. Either at the time of filing or a few days before
or after filing, Sampson Sarpong withdrew approximately $15,000.00
from Debtor's account. These funds were deposited back into the
Debtor's DIP account on or about January 2024. No other
compensation has been paid to Sampson Sarpong since filing of
bankruptcy case.

Class 1 consists of General Unsecured Claims. Creditors in this
Class include MD Comptroller ($182.00); IRS ($15,929.46); and
Trustee $977.41 (17,088.87). This Class shall receive a monthly
payment of $284.81 that will begin on the effective date of the
Plan and will end in 60 months. This Class will receive a
distribution of 100% of their allowed claims. This Class is
impaired.

Class 2 consists of General Unsecured Claims Nondischargeable
Debtor Section 523 (a)(16) Fairview Center Condominium II, Inc.
This Class shall receive a monthly payment of $1,051.68 or
$1,118.35 that will begin on the effective date of the Plan and
will end in 60 months. This Class will receive a distribution of
100% of their allowed claims. This Class is impaired.

Payments and distributions under the Plan will be funded by 12150
Annapolis Road, Bowie, MD (Fairwood), the rental income increased
in February 2024 from $3,553.50 to $3,660.00. the condominium dues
is $1,027.00 per month and the tenant pays the electric and any
other utilities. Therefore, the net proceeds are: $2,633. This is
sufficient disposable income to pay the creditors under the Plan.

A full-text copy of the Disclosure Statement dated May 9, 2024 is
available at https://urlcurt.com/u?l=KBqVbL from PacerMonitor.com
at no charge.

              About Center for Allergic Diseases

Center for Allergic Diseases, LLC operated medical facilities in
each of the properties located at 12150 Annapolis Road, Bowie,
Maryland and 4255 Altamont Place, Unit 202, White Plains,
Maryland.

The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Md. Case No. 23-17168) on October 4,
2023.

Judge Maria Ellena Chavez-Ruark presides over the case.

Diana L. Klein at Klein & Associates, LLC represents the Debtor as
legal counsel.


CENTURI GROUP: Moody's Affirms 'Ba3' CFR & Alters Outlook to Stable
-------------------------------------------------------------------
Moody's Ratings affirmed Centuri Group, Inc.'s Ba3 corporate family
rating, its Ba3-PD probability of default rating, and the Ba3
rating on its senior secured bank credit facility, including the
senior secured revolving credit facility and the senior secured
first lien term loan B. Moody's assigned a speculative grade
liquidity rating ("SGL") of SGL-2. The ratings outlook has been
revised to stable from negative.

Governance considerations under the Moody's ESG framework,
including financial strategy and risk management, were a key driver
of the rating action.

RATINGS RATIONALE

The revision of the ratings outlook to stable from negative and the
affirmation of the CFR reflects: (1) successful completion of an
initial public offering ("IPO"), causing Centuri to be a standalone
publicly traded company, as compared to previously being a fully
owned subsidiary of Southwest Gas Holdings, Inc., with plans for
further separation; (2) use of a vast majority of proceeds from the
IPO along with a concurrent private placement to reduce outstanding
borrowings under the revolver and term loan; (3) management's
commitment to use free cash flow for further deleveraging before
pursuing any M&A or shareholder returns; and (4) establishment of a
new board with a high degree of independent representation.

Centuri's Ba3 CFR is supported by its strong position as a utility
infrastructure services company, multi-year master service
agreements which provide revenue visibility, highly-rated utility
customer base, and favorable contract pricing terms which provide a
high degree of revenue and margin stability. The rating is further
supported by long-term relationships with most of its customers and
average length of contracts. The company's end markets should
continue to experience healthy demand given an aging infrastructure
and the importance of the utility industry in the US.

The rating is constrained by modest scale and diversity compared to
higher rated peers, high degree of customer concentration with its
top 10 customers accounting for nearly 49% of revenues,
inconsistent free cash flow generation over the years, and limited
track record of operating as a standalone company.

For 2024, Moody's expects modest revenue growth, although EBITDA is
expected to be lower year-over-year as a result of roll-over of
high margin projects, along with modestly positive free cash flow.
As a result of the debt paydown from IPO proceeds, Moody's adjusted
leverage is expected to be around 3.8x at year-end 2024.

Centuri's SGL-2 represents good liquidity. As of March 31, 2024,
Centuri had a cash balance of $18.4 million, and $201.5 million of
remaining availability under its $400 million revolver, net of
outstanding letters of credit. Pro forma for the IPO and the
acquisition of the remaining 10% stake in Linetec in April,
revolver availability improved to around $244 million. Moody's
expects Centuri to generate modestly positive free cash flow in
2024. Revolver borrowings are subject to a net leverage ratio
covenant, which steps down over the course of 2024 to 4.0x, and a
minimum interest coverage ratio covenant of 2.0x through December
2024, stepping up to 2.5x thereafter. Moody's expects the company
to remain in compliance with the covenants over the next 12-18
months.

The stable outlook assumes stable operations, with sufficient
liquidity to support operations. It further assumes that the
company will use additional free cash flow for further deleveraging
before pursuing any M&A or shareholder returns. Moody's does not
expect any additional proceeds for Centuri from further stake
reductions by its parent Southwest Gas Holdings, Inc., which owns
81% of Centuri following the IPO.

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

Moody's could consider an upgrade if the company improves its scale
and diversity, Debt/EBITDA is sustained below 2.75x, EBITA/interest
expense is sustained above 4.0x, and funds from operations to total
debt (FFO/Debt) is consistently in excess of 25%.

Moody's could consider a downgrade if Debt/EBITDA is sustained
above 4.5x, EBITA/interest expense is sustained below 2.25x, funds
from operations to total debt (FFO/Debt) is sustained below 15%,
the company experiences deterioration in its liquidity profile,
there is a large debt-financed acquisition, or there is loss of a
major customer.

Centuri Group, Inc., headquartered in Phoenix, AZ, is a
comprehensive utility services company that provides replacement
and installation work to gas and electric utilities in North
America. The company is a subsidiary of Centuri Holdings, Inc.,
which is publicly traded. Following the recent IPO of Centuri,
Southwest Gas Holdings, Inc. – a regulated utility holding
company – owns an 81% ownership interest. The company operates in
two key segments across the US and Canada: Gas Utility and Electric
Utility. Centuri reported revenue of $2.8 billion for the last
twelve months ended March 31, 2024.

The principal methodology used in these ratings was Construction
published in September 2021.


CLUE OPCO: Moody's Lowers CFR to B2 & Alters Outlook to Negative
----------------------------------------------------------------
Moody's Ratings downgraded the ratings of Clue OpCo LLC (a wholly
owned subsidiary of Forward Air Corporation) (collectively "Forward
Air"), including the corporate family rating to B2 from Ba3 and the
probability of default rating to B2-PD from Ba3-PD. Moody's also
downgraded the ratings of Forward Air's senior secured first lien
term loan, senior secured first lien revolver and senior secured
notes to B2 from Ba3. The outlook was changed to negative from
stable. Additionally, the speculative grade liquidity rating was
lowered to SGL-3 from SGL-2.

The ratings downgrade and negative outlook reflect Moody's view
that Forward Air's credit metrics will remain weaker than
previously expected through 2025. The higher than anticipated
leverage is due to combination of the significant increase in debt
related to the acquisition of Omni Logistics, LLC (Omni)  and the
sustained softness in the freight transportation industry.  Moody's
estimates that pro forma debt-to-LTM EBITDA was about 6.7x as of
Dec. 31, 2023 and will remain above 5.0x for the next 18 months.
Moody's does not expect a significant uplift in the industry until
the latter half of 2024 and any further delay in the transportation
market's recovery will constrain the company's capacity to
withstand adverse developments at the current rating.

Moody's considers governance a significant factor in the rating
action given management's attempt to terminate the acquisition
resulting in subsequent litigation and deterioration in credit
metrics. Further, the developments have resulted in a change in
management that will have to implement and execute on significant
restructuring initiatives in order to realize expected synergies
and improve operating results.

The downgrade of the speculative grade liquidity rating to SGL-3
from SGL-2 reflects Moody's expectation for adequate liquidity.
However, the less favorable freight environment and high interest
burden will result in only modest free cash flow for 2024. Further,
revolver availability will now likely be limited by the maximum
leverage covenant requirement in the credit agreement that will get
more restrictive over the next year.

RATINGS RATIONALE

The ratings reflect the high leverage resulting from the
acquisition of Omni and the weaker than expected operating
performance of the acquisition leading up to closing. The ratings
further reflect the extended time period Moody's now expects
Forward Air to achieve its leverage target of 2.0x.  Additionally,
the freight transportation sector's highly cyclical nature
contributes to uncertainly. The sector is currently in a state of
truck overcapacity leading to pricing at a two year low. This
situation increases uncertainty around achieving expected synergies
from the combination and improving operating results. The rating
also reflects the competitive pressures within the
less-than-truckload ("LTL") industry and the need for consistent
capital investment on new equipment necessary to keep maintenance
costs down.

The rating benefits from Forward Air's position as a premium LTL
provider that has been generating solid operating margin. Moody's
anticipates this trend may continue as the company concentrates on
integrating and expanding its infrastructure to maintain its growth
estimates. The rating also signifies the company's leading position
in the LTL market, a status that is difficult to replicate due to
its national scale.

The negative outlook reflects risks associated with the company's
ability to remain in compliance with its financial maintenance
covenants and maintain access to its revolver. Moody's estimates
that the company's liquidity will be limited to only a portion of
the committed revolver due to step downs in the maximum leverage
covenant thereby reducing available liquidity. Further, the
negative outlooks reflects the expectation that Forward Air will
likely be required to incur restructuring charges and related
expenses associated with the integration of Omni Logistics that
could result in further deterioration in credit metrics if the
sector continues to see weakness.

Forward Air's SGL-3 speculative grade liquidity rating indicates
the expectation of adequate liquidity over the next 12-15 months
supported by cash on hand and no borrowing under its $340 million
revolving credit facility (less about $19 million of letters of
credit). However, Moody's estimates that the company only has the
ability to draw approximately $125 million on its revolver before
breaching a maximum leverage covenant test of 6x.  Cash was $172
million as of Mar. 31, 2024.

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

The ratings could be upgraded if the company maintains good
liquidity, debt-to-EBITDA is sustained below 5.0x and operating
margin improves with realized synergies from the merger with Omni
Logistics. Lastly, Forward Air will need to maintain conservative
financial policies, including a measured approach to additional
debt financed acquisitions, dividends and share repurchases.

The ratings could be downgraded if weakness in end markets results
in revenue and operating margin declines or if the company
experiences difficulty in integrating Omni Logistics that prevent
improvement in operating performance. More specifically, if Forward
Air's debt-to-EBITDA is sustained above 6.0x the ratings could be
downgraded. Further, the inability to generate positive free cash
flow either from significant restructuring efforts or the need to
pay dividends on preferred shares issued in conjunction with the
acquisition of Omni could result in a rating downgrade. Finally,
increasing probability that the company will not be able to
maintain compliance with covenants applicable to the revolving
credit facility could also prompt a downgrade.

The principal methodology used in these ratings was Surface
Transportation and Logistics published in December 2021.

Forward Air is a leading asset-light provider of transportation
services across the United States, Canada and Mexico. The company
provides expedited less-than-truckload ("LTL") services, including
local pick-up and delivery, shipment consolidation/deconsolidation,
warehousing, and customs brokerage by utilizing a comprehensive
national network of terminals. Revenue for the twelve months ended
March 31, 2024 was approximately $1.5 billion.


CMC ELECTRIC: Ordered to file Plan on or before Aug. 5
------------------------------------------------------
Judge Pamela W. McAfee has entered an order that CMC Electric, LLC
must file a plan and disclosure statement on or before Aug. 5,
2024.

A status conference pursuant to 11 U.S.C. Sec. 105(d)(1) will be
held on May 22, 2024 at 11:00 AM in Room 208, 300 Fayetteville
Street, Raleigh, NC 27601

Counsel for the debtor in possession and the Bankruptcy
Administrator will participate in the status conference, and any
objection to the procedures outlined in this order will be
addressed at that time.

A copy of the Order dated May 8, 2024, is available at
https://tinyurl.ph/gPlSx from PacerMonitor.com.

                       About CMC Electric, LLC

CMC Electric, LLC, sought Chapter 11 protection (Bankr. E.D.N.C.
Case No.: 24-01532) on May 7, 2024. The Debtor estimated listed
assets of $246,959 and liabilities of $1,271,550 as of the
bankruptcy filing.  The Hon. Pamela W. Mcafee is the case judge.
Paul D. Bradford, PLLC, led by Danny Bradford, Esq., is the
Debtor's counsel.


COLOGNE ACADEMY: Moody's Rates Series 2014A School Bonds 'Ba1'
--------------------------------------------------------------
Moody's Ratings has assigned a Ba1 rating to Cologne Academy, MN's
$13.6 million Charter School Lease Revenue Bonds (Cologne Academy
Project), Series 2014A. The bonds were issued through the City of
Cologne, MN. Moody's maintains a Ba1 rating on the academy's
previously rated debt and the outlook is stable. The academy has
about $17 million of debt outstanding.

RATINGS RATIONALE

The Ba1 rating balances Cologne Academy's solid competitive profile
with its smaller scope of operations. The academy's competitive
profile is anchored by its consistently strong academic performance
that outperforms both the local school districts and the state.
Moody's expect the academy's strong academic performance and
favorable demographic trends in Carver County will support
enrollment stability. Student demand is modest and the academy is
nearing its physical capacity of 715 students. Disciplined
financial management will continue to support operating
performance. In fiscal 2023, the academy's positive operations
resulted in an operating cash flow margin of 12% and annual debt
service coverage of 1.2x, but fiscal 2023 cash flow from operations
to pro forma maximum annual debt service is narrower at 1.1x. The
school's unrestricted cash of $4.5 million at the end of fiscal
2023 covered pro forma debt by just 27%, but offered a more
favorable operating flexibility covering 164 days of operating
expenses.

The academy maintains a constructive working relationship with its
authorizer, Friends of Education, and the academy's strong
governance was noted in its most recent charter renewal.

RATING OUTLOOK

The stable outlook reflects Moody's expectation of continued
enrollment stability that will support operating margins, liquidity
and debt service coverage.

FACTORS THAT COULD LEAD TO AN UPGRADE OF THE RATING

-- Strengthened operating performance resulting in stronger and
sustained of debt service coverage of at least 1.5x

-- Improvement in liquidity with days cash on hand in excess of
200 days

FACTORS THAT COULD LEAD TO A DOWNGRADE OF THE RATING

-- Enrollment declines that results in narrowing of operating
performance

-- Material increase in leverage or significant reduction in
liquidity below 100 days cash on hand

LEGAL SECURITY

The Series 2014 bonds are payable by the gross revenues of the
Cologne Academy Building Corporation, which is a Minnesota
non-profit organization serving as borrower, owner and lessor. The
majority of the corporation's revenues consists of lease payments
made by Cologne Academy, whose primary funding is per-pupil revenue
from the state, including building lease aid and general education
revenue. The bonds are secured by a first mortgage lien on the
academy's K-8 facility and the STARS Building, and benefit from a
debt service reserve fund. The bonds further benefit from a Deposit
Account and Control Agreements with both the academy and the
corporations, which along with the pledge and covenant agreement
and the loan agreement allow the trustee to debit the academy's
bank account monthly for debt service payments and provide security
under Article IX of the UCC. The Series 2014 bonds are issued on
parity with the corporation's Series 2024 bonds.

Financial covenants include 30 days' cash on hand, annual debt
service coverage of 1x to 1.1x, depending on a threshold of 60 days
cash on hand, and an additional bonds test of 1.2x historical and
1.25x projected debt service coverage. The bond documents also
require a repair and replacement fund that is funded on a monthly
basis in amounts required by a comprehensive capital assessment
plan over a five-year period.

USE OF PROCEEDS

The Series 2014 bond proceeds were used to finance improvements to
the academy's existing facility to provide additional classroom
space, a gymnasium, and parking lot improvements.

PROFILE

Cologne Academy is a self-managed charter school located in Carver
County, in the Twin Cities metro area. The academy offers a Core
Knowledge curriculum implemented through classical instruction
strategies and provides electives in Spanish, Physical Education,
Music and Arts. In fiscal 2023, the academy reported $10.5 million
in operating revenue and enrolled 689 students.

The academy is authorized by the Friends of Education, which
recently renewed Cologne Academy's charter contract for another
five-year term, ending June 30, 2029. Friends of Education
currently authorizes 11 charter schools and is recognized as an
Exemplary Authorizer by the Minnesota Department of Education.

METHODOLOGY

The principal methodology used in this rating was US Charter
Schools published in April 2024.


COTTONWOOD FINANCIAL: Gets OK to Sell Assets to Winning Bidder
--------------------------------------------------------------
A U.S. bankruptcy judge has given the go-signal for Cottonwood
Financial Ltd. and its affiliates to sell their assets to the
winning bidder.

Judge Scott Everett of the U.S. Bankruptcy Court for the Northern
District of Texas approved the sale of the assets to Axcess
Financial Holdings, Inc., an Ohio corporation whose offer was
selected as the winning bid at the April 29 auction.

The assets sold to Axcess include personal property, accounts
receivable, intellectual property and other assets used by the
sellers to operate an alternative financial services company.

"No other person or entity or group of persons or entities has
offered to purchase the assets for an amount of aggregate
consideration that would provide greater value to the debtors'
estates than the purchaser," Judge Everett said in his order.

"The debtors' determination that the [asset purchase agreement]
constitutes the highest and best offer for the assets constitutes a
valid and sound exercise of the debtors' business judgment," the
bankruptcy judge said.

Under the deal, Axcess agreed to pay the sellers $3 million in cash
at closing.

Axcess also agreed to assume certain liabilities of the sellers and
pay the cure costs under the contracts it is required to assume as
part of the deal.

                    About Cottonwood Financial

Cottonwood Financial Ltd. operates one of the largest privately
held retail consumer finance companies in the United States.
Through its Cash Store brand, the company offers customers an array
of financial products and consumer-lending services, including
single payment cash advances, installment cash advances and title
loans.  The company utilizes an innovative mix of financial
technology (fintech) through its online customer portal and
brick-and-mortar financial products and services through its 181
retail locations across Texas, Idaho and Wisconsin.

Cottonwood Financial and four of its affiliates sought relief under
Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Texas Lead Case
No. 24-80035) on Feb. 24, 2024.  In the petition signed by its
chief restructuring officer, Karen G. Nicolaou, Cottonwood
Financial reported up to $50,000 in assets and $50 million to $100
million in liabilities.

Judge Scott W. Everett presides over the cases.

The Debtors tapped Gray Reed as bankruptcy counsel; Alston & Bird,
LLP as special corporate counsel; Oppenheimer & Co. Inc. as
investment banker; and HMP Advisory Holdings, LLC, doing business
as Harney Partners, as financial advisor. Karen Nicolaou, managing
director at HMP, is the Debtors' chief restructuring officer.


COTY INC: Moody's Assigns 'Ba2' Rating to New Senior Secured Notes
------------------------------------------------------------------
Moody's Ratings assigned a Ba2 rating to Coty, Inc.'s new senior
secured notes. All other ratings including the company's Ba2
Corporate Family Rating, Ba2-PD Probability of Default Rating, Ba2
senior secured revolver and notes ratings, B1 senior unsecured note
ratings and SGL-1 speculative grade liquidity rating are unchanged.
The rating outlook is positive.

Coty plans to issue EUR500 million senior secured notes due 2027
and utilize the proceeds to refinance the existing $323 million
6.5% senior unsecured notes due 2026, pay down the revolver and to
fund offering fees and expenses. Following the offering, the
EUR180.3 million of 4.75% notes due in April 2026 would be the only
remaining unsecured debt in the capital structure. The debt raise
is modestly credit positive because it will improve liquidity by
extending maturities while keeping leverage unchanged. Moody's
expects to withdraw the B1 rating on 6.5% senior unsecured notes
due 2026 if they are retired as expected in conjunction with the
transaction.

The security and guarantees will be terminated for the proposed
notes as well as the secured notes that mature in 2028-2030
(collectively, the Suspension Notes) if the notes received
investment grade ratings from at least two of the three rating
agencies rating the notes and no default has occurred (Suspension
Event). In addition, certain covenants for the Suspension Notes
will be suspended upon a Suspension Event, except the covenants
related to asset conveyance, certain kinds of indebtedness
repayment, and limitation on liens/sale leaseback.

RATINGS RATIONALE

Coty's Ba2 CFR reflects the company's solid market position and
improved operating performance that is leading to sizable annual
free cash flow, and the company's commitment to delever. Moody's
anticipates debt-to-EBITDA to improve to a mid 3.0x range in the
next 12 months from 4.0x as of March 31, 2024 due to earnings
improvement as well as further debt repayment funded by free cash
flow and asset sales. Coty's earnings growth is supported by an
expansion in travel retail, healthy demand and higher penetration
in prestige fragrance, product premiumization and innovation.
Continued focus on marketing, brand support, e-commerce and
innovation, as well as through expansion in skincare and China are
also contributing to earnings growth. The ratings also reflect
Moody's view that the company will continue to generate strong free
cash flow over the next year as a result of good earnings growth,
disciplined capital spending, additional cost savings, and working
capital management. Moody's believes Coty's commitment to
deleverage is in part motivated by a desire to improve financial
flexibility to restart the dividend, which would weaken free cash
flow. Moody's assumes that any dividend resumption would be to a
level that preserves significant annual free cash flow. Coty's free
cash flow, swap monetization and asset sales can fund share
repurchases of roughly $200 million annually while continuing to
deleverage. Coty's ratings are also supported by the company's
large scale, its portfolio of well-recognized brands, and good
product and geographic diversification.

Coty's product portfolio has a concentration in fragrance and color
cosmetics, the two categories that Moody's views as more exposed to
earnings volatility in an economic downturn compared to skincare
and haircare, which was evidenced by significant category revenue
declines in 2020. Nevertheless, recent strong sector growth and
higher penetration in prestige fragrance compared to the
pre-pandemic level is helping to expand Coty's gross margin. The
free cash flow provides the company further financial flexibility
to invest in marketing and product development, as well as other
strategic pillars such as skincare and China. Coty is more
concentrated than its primary competitors in mature developed
markets in the US and Western Europe. Coty relies more heavily on
licenses to support its prestige brands relative to greater
ownership of its mass beauty brands. That said, lower exposure to
China benefited the company in the last two years when beauty
demand in China was soft and certain of Coty's competitors were
much more negatively impacted. Coty is also focusing on expanding
its revenue in other markets such as Brazil and Southeast Asia, and
observed strong growth in those markets. As there are no major
licenses up for renewal in the next several years, brand licensors
switching partners is a longer-term risk. The risk is somewhat
mitigated by Coty's good manufacturing, distribution and marketing
capabilities, successful prestige product launches, and the
company's new license agreements with additional brands. The
company's top six licensing brands are also owned by different
organizations, which creates some diversification. Additionally,
Coty recently launched Infiniment Coty Paris, an ultra premium
fragrance collection within the Coty brand. Such product
introductions in a fastest growing pure play niche fragrance
category are strengthening its portfolio of owned brands.

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

The positive outlook reflects Moody's expectation that Coty will
continue to generate strong earnings and use free cash flow and
proceeds from asset sales to repay debt and reduce debt-to-EBITDA
leverage. The positive outlook also reflects Moody's expectation
that the company will only resume dividend payments after the
company meets its mid to long-term target leverage ratio of 2.0x by
calendar year 2025 (based on the company's calculation) and the
company will maintain at least good liquidity.

Coty's ratings could be downgraded if operating performance
deteriorates due to market share losses, revenue declines or an
inability to increase prices to cover costs. Coty's ratings could
also be downgraded if it fails to sustain debt-to-EBITDA below
4.0x, or if the company pursues material debt funded acquisitions
or shareholder distributions. A deterioration in liquidity could
also lead to a downgrade.

Coty's ratings could be upgraded if the company sustains good
operating performance including organic revenue growth while at
least maintaining the EBITDA margin. Coty would also need to reduce
debt-to-EBITDA to a level approaching 3.5x, generate consistently
strong free cash flow, and maintain financial policies that sustain
strong credit metrics to be considered for an upgrade.

The principal methodology used in this rating was Consumer Packaged
Goods published in June 2022.

Coty Inc., a public company headquartered in New York, NY, is a
manufacturer and marketer of fragrance, color cosmetics, and skin
and body care products. The company's products are sold in over 150
countries. The company generated roughly $6.1 billion in revenue
for the 12 months ending March 31, 2024. Coty is 51% owned by
investment firm JAB Holding Company S.a.r.l. (JAB), with the rest
publicly traded or owned by management.


DIAMOND SPORTS: Spat With Comcast Threatens Its Restructuring Plan
------------------------------------------------------------------
Jonathan Randles of Bloomberg News reports that Diamond Sports
Group said negotiations with Comcast Corp. remain open despite
warnings from Major League Baseball that the cable provider's
decision to drop its regional sports channels could force the
league to set up alternative broadcasts for fans of a dozen teams.

The dispute with Comcast is harming its teams, their fans and
jeopardizing Diamond’s plan to restructure and exit bankruptcy
later this year, 2024, MLB lawyer James Bromley said Wednesday
during a court hearing.

                 About Diamond Sports Group

Diamond Sports Group, LLC, and its affiliates own and/or operate
the Bally Sports Regional Sports Networks, making them the nation's
leading provider of local sports programming. DSG's 19 Bally Sports
RSNs serve as the home for 42 MLB, NHL, and NBA teams. DSG also
holds joint venture interests in Marquee, the home of the Chicago
Cubs, and the YES Network, the local destination for the New York
Yankees and Brooklyn Nets. The RSNs produce about 4,500 live local
professional telecasts each year in addition to a wide variety of
locally produced sports events and programs.  DSG is an
unconsolidated and independently run subsidiary of Sinclair
Broadcast Group.

Diamond Sports Group and 29 of its affiliates sought relief under
Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Texas Lead Case
No. 23-90116) on March 14, 2023. In the petition signed by David F.
DeVoe, Jr., as chief financial officer and chief operating officer,
Diamond Sports Group listed $1 billion to $10 billion in both
assets and liabilities.

Judge Christopher M. Lopez oversees the cases.

The Debtors tapped Paul, Weiss, Rifkind, Wharton & Garrison, LLP
and Porter Hedges, LLP as bankruptcy counsel; Wilmer Cutler
Pickering Hale, Dorr, LLP and Quinn Emanuel Urquhart & Sullivan,
LLP as special counsel; AlixPartners, LLP as financial advisor;
Moelis & Company, LLC and LionTree Advisors, LLC as investment
bankers; Deloitte Tax, LLP, as tax advisor; Deloitte Financial
Advisory Services, LLP, as accountant; and Deloitte Consulting, LLP
as consultant. Kroll Restructuring Administration, LLC is the
claims agent.

The U.S. Trustee for Region 7 appointed an official committee to
represent unsecured creditors in the Debtors' Chapter 11 cases. The
committee tapped Akin Gump Strauss Hauer& Feld LLP as counsel; FTI
Consulting, Inc., as financial advisor; and Houlihan Lokey Capital,
Inc., as investment banker.


DIAMOND SPORTS: Wins Court Okay for Renewed DirecTV Deal
--------------------------------------------------------
The parent company of sports network operator Bally Sports has
asked a Texas bankruptcy judge to approve renewed multiyear
contracts with DirecTV, saying the revenue from the deal is a
"critical component" of its post-Chapter 11 business plan.

Diamond Sports Group, LLC, et al., sought and obtained an order
authorizing the assumption of the agreements by and among certain
of the Debtors and DIRECTV, LLC.

Since the filing of their chapter 11 plan, the Debtors have been
engaging with their larger MVPD partners, including DIRECTV, on
go-forward arrangements in connection with the reorganization
contemplated by the Plan. On May 1, 2024, after weeks of
arduous, good-faith negotiations among the senior-most executives
of the Debtors and DIRECTV, the parties reached agreement on the
terms (the "Renewal Agreement") of a multi-year renewal of the
DIRECTV Agreements, which provides for the vital continued carriage
of the Debtors’ content on DIRECTV's services.

The effectiveness of the Renewal Agreement, which extends the term
of the
DIRECTV Agreements for a period of years, contains mutual releases,
and provides the parties a clean-slate going forward, is
conditioned on the Debtors’ assumption of the DIRECTV Agreements.
Assumption of the DIRECTV Agreements as contemplated by the
Renewal Agreement also resolves the disputes that are the subject
of the Debtors' Motion (I) to Enforce the Automatic Stay Against
DIRECTV, LLC; (II) to Compel Performance of DIRECTV, LLC's
Obligations Under an Executory Contract; and (III) for Related
Relief and the associated payment-related matters raised by
DIRECTV.
Accordingly, the Debtors have agreed to withdraw the Enforcement
Motion.

Because revenue generated from the continued carriage of the
Debtors’ content on
DIRECTV's platforms is a crucial component of the Debtors’
go-forward business plan, the Debtors submit that assumption of the
DIRECTV Agreements, as amended by the Renewal Agreement, is a sound
exercise of their business judgment. Moreover, before entry into
the Renewal Agreement, the Debtors consulted with the requisite
parties to their Restructuring Support Agreement ("RSA") about the
terms of the renewal and obtained the necessary consents under the
RSA to enter into the Renewal Agreement.

                  About Diamond Sports Group

Diamond Sports Group, LLC, and its affiliates own and/or operate
the Bally Sports Regional Sports Networks, making them the nation's
leading provider of local sports programming. DSG's 19 Bally Sports
RSNs serve as the home for 42 MLB, NHL, and NBA teams. DSG also
holds joint venture interests in Marquee, the home of the Chicago
Cubs, and the YES Network, the local destination for the New York
Yankees and Brooklyn Nets. The RSNs produce about 4,500 live local
professional telecasts each year in addition to a wide variety of
locally produced sports events and programs. DSG is an
unconsolidated and independently run subsidiary of Sinclair
Broadcast Group.

Diamond Sports Group and 29 of its affiliates sought relief under
Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Texas Lead Case
No. 23-90116) on March 14, 2023. In the petition signed by David F.
DeVoe, Jr., as chief financial officer and chief operating
officer, Diamond Sports Group listed $1 billion to $10 billion in
both assets and liabilities.

Judge Christopher M. Lopez oversees the cases.

The Debtors tapped Paul, Weiss, Rifkind, Wharton & Garrison, LLP
and Porter Hedges, LLP as bankruptcy counsel; Wilmer Cutler
Pickering Hale, Dorr, LLP and Quinn Emanuel Urquhart & Sullivan,
LLP as special counsel; AlixPartners, LLP as financial advisor;
Moelis & Company, LLC and LionTree Advisors, LLC as investment
bankers; Deloitte Tax, LLP, as tax advisor; Deloitte Financial
Advisory Services, LLP, as accountant; and Deloitte Consulting, LLP
as consultant. Kroll Restructuring Administration, LLC is the
claims agent.

The U.S. Trustee for Region 7 appointed an official committee to
represent unsecured creditors in the Debtors' Chapter 11 cases.
The committee tapped Akin Gump Strauss Hauer& Feld LLP as counsel;
FTI Consulting, Inc., as financial advisor; and Houlihan Lokey
Capital, Inc., as investment banker.


DIOCESE OF ROCKVILLE CENTRE: Starts Abuse Claims Mediation
----------------------------------------------------------
Randi Love of Bloomberg Law reports that bankrupt Long Island
diocese, Rockville Centre Diocese, sent to mediation for abuse
claims.

The Roman Catholic Diocese of Rockville Centre, New York will begin
mediation with sex abuse claimants after a judge put off a ruling
on the diocese's request to end its own bankruptcy.

The Long Island diocese, which has been in bankruptcy since 2020,
moved to dismiss its Chapter 11 case in April after failing to drum
up the support it needed for a proposed $200 million settlement of
the abuse claims.

                About The Roman Catholic Diocese
                  of Rockville Centre, New York

The Roman Catholic Diocese of Rockville Centre, New York, is the
seat of the Roman Catholic Church on Long Island. The Diocese has
been under the leadership of Bishop John O. Barres since February
2017. The State of New York established the Diocese as a religious
corporation in 1958. The Diocese is one of eight Catholic dioceses
in New York, including the Archdiocese of New York. The Diocese's
total Catholic population is approximately 1.4 million, roughly
half of Long Island's total population of 3.0 million. The Diocese
is the eighth largest diocese in the United States when measured by
the number of baptized Catholics.

To deal with sexual abuse claims, the Roman Catholic Diocese of
Rockville Centre, New York, filed a Chapter 11 petition (Bankr.
S.D.N.Y. Case No. 20-12345) on Sept. 30, 2020, listing as much as
$500 million in both assets and liabilities. Judge Martin Glenn
oversees the case.

The Diocese tapped Jones Day as legal counsel, Alvarez & Marsal
North America, LLC, as restructuring advisor, and Sitrick and
Company, Inc., as communications consultant. Epiq Corporate
Restructuring, LLC is the claims agent.

The U.S. Trustee for Region 2 appointed an official committee of
unsecured creditors in the Diocese's Chapter 11 case. The committee
tapped Pachulski Stang Ziehl & Jones, LLP and Ruskin Moscou
Faltischek, PC as its bankruptcy counsel and special real estate
counsel, respectively.

Robert E. Gerber, the legal representative for future claimants of
the Diocese, is represented by the law firm of Joseph Hage
Aaronson, LLC.


DYNATA LLC: Commences Prepackaged Chapter 11 Filing
---------------------------------------------------
Dynata, LLC, the most trusted source for reliable, accurate
first-party data -- on May 22 disclosed that it has commenced a
prepackaged Chapter 11 filing in the United States Bankruptcy Court
for the District of Delaware. The transaction will result in a
voluntary write down of almost 40% of its total debt from
approximately $1.3 billion to $780 million in exchange for the
first and second lien holders to own 100% of the equity in the
Company. The process is limited to Dynata's U.S. entities and all
foreign businesses remain unaffected.

The restructuring is supported by the required percentage of
Dynata's lenders, including its revolver, first lien term loan, and
second lien term loan lenders and its sponsor, who committed to
support the prepackaged plan that will enable the Company to
further invest in its 36-month transformation initiatives and
support its long-term growth strategy.

The result is a significantly stronger balance sheet that will
solidify Dynata's position as the top business partner for all
clients and vendors in the first-party data space. Dynata is
seeking to have the prepackaged plan confirmed by early July. The
support of the vast majority of the Company's debtholders greatly
reduces the uncertainty associated with alternative debt
restructuring processes.

Dynata has filed customary first day motions with the Court to
ensure operations continue without any interruption, including
making timely payments to all employees and vendors. Dynata has
ensured that it will maintain ample liquidity throughout this
process and beyond by securing an additional $31.5 million in
post-petition financing and commitments of $50.0 million in exit
financing that enable Dynata to emerge swiftly from bankruptcy.

"I appreciate the continued cooperation with our lenders as it
reaffirms their belief in the underlying strength of our business."
said Mike Petrullo, Chief Executive Officer of Dynata. "This
milestone unlocks value in our company and supports our short and
long-term growth strategy, which also includes recent additions of
key members to our sales and leadership teams, such as the
appointment of Dynata's first Chief Commercial Officer. By
executing our optimization and investment plans this year we are
building the catalyst for growth in 2025 and beyond. I am thankful
to the Dynata team who has committed themselves to building a
best-in-class brand and to our loyal clients."

Willkie Farr & Gallagher LLP is serving as Dynata's legal advisor
in connection with the restructuring. Alvarez & Marsal North
America, LLC serves as its restructuring advisor and Houlihan
Lokey, Inc. serves as its investment banker.

Gibson, Dunn & Crutcher LLP is serving as lead counsel and PJT
Partners LP is serving as investment banker to an ad hoc group of
controlling First Lien Lenders in connection with the
restructuring.

                       About Dynata LLC

Dynata, LLC, provides survey and marketing services.



EBIX INC: Disclosure Statement Hearing Continued to June 27
-----------------------------------------------------------
The court has entered an order that the hearing on the Disclosure
Statement Approval Motion of Ebix, Inc., et al. previously
scheduled for April 22, 2024, at 9:30 a.m. Central Time is
continued to June 27, 2024, at 9:30 a.m. Central Time and will be
conducted via a hybrid in-person and video conference format.

The hearing will take place before the Honorable Scott W. Everett,
United States Bankruptcy Judge, in Courtroom #3, 14th Floor, 1100
Commerce Street, Dallas, TX 75242-1496.

A copy of the Order dated May 8, 2024, is available at
https://tinyurl.ph/FJYhA from casedocs.omniagentsolutions.com, the
claims agent.

                       About Ebix, Inc.

Ebix Inc. -- https://www.ebix.com/ -- is headquartered in Atlanta,
Ga., and it supplies software and electronic commerce solutions to
the insurance industry. With approximately 200 offices across six
continents, Ebix, (NASDAQ: EBIX) endeavors to provide on-demand
infrastructure exchanges to the insurance, financial services,
travel and healthcare industries.

Ebix and its affiliates filed Chapter 11 petitions (Bankr. N.D.
Tex. Lead Case No. 23-80004) on Dec. 17, 2023. At the time of the
filing, Ebix reported between $500 million and $1 billion in both
assets and liabilities.

Judge Scott W. Everett oversees the cases.

The Debtors tapped Sidley Austin, LLP as bankruptcy counsel;
O'Melveny and Myers, LLP as special counsel; AlixPartners, LLP as
financial advisor; and Jefferies, LLC as investment banker. Omni
Agent Solutions, Inc. is the claims agent.

The U.S. Trustee for Region 6 appointed an official committee to
represent unsecured creditors in the Debtors' Chapter 11 cases. The
committee is represented by McDermott Will & Emery, LLP.


ECHOSTAR CORP: Reports Big Losses in Q1 as Bankruptcy Fears Rise
----------------------------------------------------------------
Paul Lipscombe of Data Center Dynamics reports that EchoStar's
financial woes continued as the company reported subscriber losses
across the main areas of its business — wireless, broadband, and
pay TV.

The company ended Q1 with a net loss of $107.38 million, compared
to net income of $253.53m the year previous.

The company's situation has become so dire that a senior industry
analyst is worried for the firm's future.

"The bottom line is that we now see bankruptcy in the next four to
six months as the most likely outcome," said Craig Moffett, senior
managing director at MoffettNathanson Research, in a report for
investors.

During the quarter, EchoStar lost 81,000 Boost Mobile prepaid phone
customers, ending the quarter with 7.3 million subscribers on its
network.

The company reported losses of 26,000 broadband subscribers and
348,000 pay TV.

EchoStar completed its merger with Dish Network earlier this year,
reuniting the two companies.

EchoStar was spun out from Dish back in 2008. The split saw Dish
retain its TV business while it shed the satellite infrastructure
that beamed content into them. Both companies are owned by
billionaire Charles Ergen.

In its latest financials, EchoStar, which is the parent company of
Dish, acknowledged its financial woes.

"Substantial doubt exists about our ability to continue as a going
concern. We do not currently have the necessary cash on hand and/or
projected future cash flows to fund fourth quarter operations or
the November 2024 debt maturity."

During an earnings call this week, EchoStar CFO and EVP Paul Orban
said that the company needs to pay off $2 billion in maturing debt
on November 24.

"We do not currently have the necessary cash on hand and/or
projected future cash flows to fund fourth quarter operations or
the November 2024 debt maturity," he said.

"To address our capital needs, we are in active discussions with
funding sources to raise additional capital. We cannot provide
assurances that we will be successful in obtaining such new
financing necessary for us to have sufficient liquidity. Further,
if we are not successful in these endeavors, then capital
expenditures to meet future FCC build-out requirements and wireless
customer growth initiatives will be adversely affected."

EchoStar noted that it will struggle to raise more funding, as it
can't sell any spectrum assets until 2026.

In March, Dish said it couldn't pay for T-Mobile's 800MHz spectrum
that it had agreed to purchase for $3.59bn.

Dish had been granted an extension until April 1, paying a $100
million extension fee.

As part of T-Mobile's merger and acquisition of Sprint in 2020, the
operator agreed to sell its 800MHz spectrum to Dish.

Dish did meet its 5G coverage target set by the Federal
Communications Commission (FCC) last year, delivering its 5G
service to 70 percent of the US population.

                    About EchoStar Corporation

EchoStar Corporation (Nasdaq: SATS) -- www.echostar.com -- is a
provider of technology, networking services, television
entertainment and connectivity, offering consumer, enterprise,
operator and government solutions worldwide under its EchoStar,
Boost Mobile, Boost Infinite, Sling TV, DISH TV, Hughes,
HughesNet,
HughesON, and JUPITER brands. In Europe, EchoStar operates under
its EchoStar Mobile Limited subsidiary and in Australia, the
company operates as EchoStar Global Australia.


ELETSON HOLDINGS: Creditors Seek Over $10M Cut in Reed Smith Fees
-----------------------------------------------------------------
Emily Lever of Law360 reports that unsecured creditors of shipping
company Eletson Holdings have asked a New York bankruptcy judge to
cut more than $1 million from the fees being sought by Eletson
counsel Reed Smith LLP, saying the firm overstaffed the case and
wasted money on needless and meritless fights.

                     About Eletson Holdings

Eletson Holdings Inc. is a family-owned international shipping
company, which touts itself as having a global presence with
headquarters in Piraeus, Greece as well as offices in Stamford,
Connecticut, and London.  

At one time, Eletson claimed to own and operate one of the world's
largest fleets of medium and long-range product tankers and boasted
a fleet consisting of 17 double hull tankers with a combined
capacity of 1,366,497 dwt, 5 LPG/NH3 carriers with a combined
capacity of 174,730 cbm and 9 LEG carriers with capacity of 108,000
cbm.

Eletson Holdings, a Liberian company, is Eletson's ultimate parent
company and is the direct parent and owner of 100% of the equity
interests in the two other debtors, Eletson Finance (US) LLC, and
Agathonissos Finance LLC.

Eletson and its two affiliates were subject to involuntary Chapter
7 bankruptcy petitions (Bankr. S.D.N.Y. Case No. 23-10322) filed on
March 7, 2023 by creditors Pach Shemen LLC, VR Global Partners,
L.P. and Alpine Partners (BVI), L.P. The petitioning creditors are
represented by Kyle J. Ortiz, Esq., at Togut, Segal & Segal, LLP.
On Sept. 25, 2023, the Chapter 7 cases were converted to Chapter
11
cases.

The Honorable John P. Mastando, III is the case judge.

Derek J. Baker, Esq., represents the Debtors as bankruptcy
counsel.

On Oct. 20, 2023, the U.S. Trustee for Region 2 appointed an
official committee of unsecured creditors in these Chapter 11
cases.  The committee tapped Dechert, LLP as its legal counsel.


ELEVENONE INC: Michael Abelow Named Subchapter V Trustee
--------------------------------------------------------
The Acting U.S. Trustee for Region 8 appointed Michael Abelow,
Esq., at Sherrard Roe Voigt & Harbison, PLC, as Subchapter V
trustee for ElevenOne, Inc.

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

The Subchapter V trustee can be reached at:

     Michael G. Abelow, Esq.
     Sherrard Roe Voigt & Harbison, PLC
     150 3rd Ave. South, Suite 1100
     Nashville TN 37201
     Phone: (615) 742-4532
     Email: mabelow@srvhlaw.com

                        About ElevenOne Inc.

ElevenOne, Inc., doing business as Mooyah Burgers Fries & Shakes,
sought protection under Chapter 11 of the U.S. Bankruptcy Code
(Bankr. M.D. Tenn. Case No. 24-01556) on May 1, 2024, with $313,460
in assets and $1,036,826 in liabilities. John C. Rightmyer, owner,
signed the petition.

Judge Charles M. Walker presides over the case.

Jay R. Lefkovitz, Esq., at Lefkovitz & Lefkovitz represents the
Debtor as legal counsel.


ELM TRUST 2024-ELM: Moody's Assigns (P)Ba2 Rating to HRR-15 Certs
-----------------------------------------------------------------
Moody's Ratings has assigned provisional ratings to 13 classes of
CMBS securities, to be issued by ELM Trust 2024-ELM, Commercial
Mortgage Pass-Through Certificates, Series 2024-ELM:

15-Pack Certificates

Cl. A-15, Assigned (P)Aaa (sf)

Cl. X-CP-15*, Assigned (P)Baa2 (sf)

Cl. B-15, Assigned (P)Aa3 (sf)

Cl. C-15, Assigned (P)A3 (sf)

Cl. D-15, Assigned (P)Baa3 (sf)

Cl. HRR-15, Assigned (P)Ba2 (sf)

10-Pack Certificates

Cl. A-10, Assigned (P)Aaa (sf)

Cl. X-CP-10*, Assigned (P)Baa2 (sf)

Cl. B-10, Assigned (P)Aa3 (sf)

Cl. C-10, Assigned (P)A3 (sf)

Cl. D-10, Assigned (P)Baa3 (sf)

Cl. E-10, Assigned (P)Ba2 (sf)

Cl. HRR-10, Assigned (P)Ba3 (sf)

* Reflects Interest-Only Classes

RATINGS RATIONALE

This transaction offers two series of certificates, each
collateralized by a single fixed rate loan backed by the borrower's
fee and leasehold interests in a collection of single-tenant
industrial warehouses.

-- The 15-pack Certificates are collateralized by the 15-pack
Mortgage Loan. This loan is backed by a portfolio of 15 industrial
facilities fully leased to Amazon.com Services LLC (the "15-pack
Portfolio").

-- The 10-pack Certificates are collateralized by the 10-pack
Mortgage Loan. This loan is backed by a portfolio of 10 industrial
facilities fully leased to Amazon.com Services LLC (the "10-pack
Portfolio").

The two mortgage loans are not cross-collateralized or
cross-defaulted. Moody's ratings are based on the credit quality of
the loans and the strength of the securitization structure.

15 pack portfolio

The 15-pack Mortgage Loan is secured by the borrower's fee simple
or leasehold interests in a portfolio of 15, single-tenant
industrial warehouse/distribution properties containing
approximately 5,024,908 SF of aggregate rentable area. All 15
properties were constructed during the past five years, with one
property built in 2020, nine properties built in 2021, and five
built in 2022. The average facility footprint is 288,479 SF and
offers superior functionality – clear heights averaging 38'
(range from 32' to 40'), dock doors averaging 85 (range from 5 to
132), and minimal office usage that averages 5.9% (range from 2.5%
to 13.5%).

The portfolio is 100% leased to Amazon.com Services LLC, with
Amazon.com, Inc. (A1, senior unsecured) as the guarantor under 15
different leases. The leases maintain a weighted average remaining
term of 11.3 years.

10 pack portfolio

The 10-pack Mortgage Loan is secured by the borrower's fee simple
or leasehold interests in a portfolio of 10, single-tenant
industrial warehouse/distribution properties containing
approximately 6,395,652 SF of aggregate rentable area. All 10
properties were constructed during the past four years, with five
properties built in 2021, three properties built in 2022, and two
built in 2023. The average facility footprint is 504,097 SF and
offers superior functionality – clear heights averaging 40'
(range from 12' to 50'), dock doors averaging 90 (range from 15 to
122), and minimal office usage of 3.9% (range from 2.0% to 11.5%).

As is in the 15-pack Portfolio, the 10-pack Portfolio is 100%
leased to Amazon.com Services LLC, with Amazon.com, Inc. (A1,
senior unsecured) as the guarantor under 10 different leases. The
leases maintain a weighted average remaining term of 12.9 years.

Moody's approach to rating this transaction involved the
application of both Moody's Large Loan and Single Asset/Single
Borrower Commercial Mortgage-Backed Securitization methodology and
Moody's IO Rating methodology. The rating approach for securities
backed by a single loan compares the credit risk inherent in the
underlying collateral with the credit protection offered by the
structure. The structure's credit enhancement is quantified by the
maximum deterioration in property value that the securities are
able to withstand under various stress scenarios without causing an
increase in the expected loss for various rating levels. In
assigning single borrower ratings, Moody's also consider a range of
qualitative issues as well as the transaction's structural and
legal aspects.

The credit risk of loans is determined primarily by two factors: 1)
Moody's assessment of the probability of default, which is largely
driven by each loan's DSCR, and 2) Moody's assessment of the
severity of loss upon a default, which is largely driven by each
loan's loan-to-value ratio, referred to as the Moody's LTV or MLTV.
As described in the CMBS methodology used to rate this
transaction, Moody's make various adjustments to the MLTV. Moody's
adjust the MLTV for each loan using a value that reflects
capitalization (cap) rates that are between Moody's sustainable cap
rates and market cap rates. Moody's also use an adjusted loan
balance that reflects each loan's amortization profile.

For the 15 pack loan, the Moody's first mortgage actual DSCR is
1.16x and Moody's first mortgage actual stressed DSCR is 0.83x. For
the 10 pack loan, the Moody's first mortgage actual DSCR is 1.11x
and Moody's first mortgage actual stressed DSCR is 0.77x. Moody's
DSCR is based on Moody's stabilized net cash flow.

The 15 pack loan's first mortgage balance of $653,000,000
represents a Moody's LTV ratio of 101.4% based on Moody's value.
Adjusted Moody's LTV ratio for the 15 pack first mortgage balance
is 91.3% based on Moody's Value using a cap rate adjusted for the
current interest rate environment. The 10 pack loan's first
mortgage balance of $740,000,000 represents a Moody's LTV ratio of
109.5% based on Moody's value. Adjusted Moody's LTV ratio for the
10 pack first mortgage balance is 98.6% based on Moody's Value
using a cap rate adjusted for the current interest rate
environment.  

Moody's also grades properties on a scale of 0 to 5 (best to worst)
and considers those grades when assessing the likelihood of debt
payment. The factors considered include property age, quality of
construction, location, market, and tenancy. The property quality
grade is 0.75 across both portfolios.

Notable strengths of the transaction include: asset quality, strong
tenancy, minimal rollover, and collateral diversity.

Notable concerns of the transaction include: tenant concentration,
interest-only mortgage loan profile, small market share, and
certain credit negative legal features.

The principal methodology used in rating all classes except
interest-only classes was "Large Loan and Single Asset/Single
Borrower Commercial Mortgage-Backed Securitizations Methodology"
published in July 2022.

Moody's approach for single borrower and large loan multi-borrower
transactions evaluates credit enhancement levels based on an
aggregation of adjusted loan level proceeds derived from Moody's
loan level LTV ratios. Major adjustments to determining proceeds
include leverage, loan structure, and property type. These
aggregated proceeds are then further adjusted for any pooling
benefits associated with loan level diversity, other concentrations
and correlations.

Moody's analysis considers the following inputs to calculate the
proposed IO rating based on the published methodology: original and
current bond ratings and credit estimates; original and current
bond balances grossed up for losses for all bonds the IO(s)
reference(s) within the transaction; and IO type corresponding to
an IO type as defined in the published methodology.

Factors that would lead to an upgrade or downgrade of the ratings:

The performance expectations for a given variable indicate Moody's
forward-looking view of the likely range of performance over the
medium term. Performance that falls outside the given range may
indicate that the collateral's credit quality is stronger or weaker
than Moody's had previously anticipated. Factors that may cause an
upgrade of the ratings include significant loan pay downs or
amortization, an increase in the pool's share of defeasance or
overall improved pool performance. Factors that may cause a
downgrade of the ratings include a decline in the overall
performance of the pool, loan concentration, increased expected
losses from specially serviced and troubled loans or interest
shortfalls.


ENVIVA INC: Wilmington Trust Appointed to Creditors Committee
-------------------------------------------------------------
The U.S. Trustee for Region 4 appointed Wilmington Trust, N.A. as
new member of the official committee of unsecured creditors in the
Chapter 11 cases of Enviva, Inc. and its affiliates.

Meanwhile, RWE Supply & Trading GmbH resigned as committee member.


As of May 23, the members of the committee are:

     1. Ryder Integrated Logistics
        11690 NW 105th Street
        Miami, FL 33178

     2. Drax Power Limited
        Drax Power Station
        Selby, YO8 8PH
        United Kingdom

     3. Wilmington Trust, N.A.
        50 South Sixth Street, Suite 1290
        Minneapolis, MN 55402-3951

Wilmington Trust will serve in the committee in its capacity as
Indenture Trustee for the Exempt Facilities Revenue Bonds (Enviva
Inc. Project), Series 2022 (Green Bonds).

                         About Enviva Inc.

Headquartered in Bethesda, Md., Enviva Inc. --
https://www.envivabiomass.com -- 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 exports its wood pellets
to global markets through its deep-water marine terminals at the
Port of Chesapeake, Virginia, the Port of Wilmington, North
Carolina, and the Port of Pascagoula, Mississippi, and from
third-party deep-water marine terminals in Savannah, Georgia,
Mobile, Alabama, and Panama City, Florida.

Enviva Inc. and certain affiliates sought protection under Chapter
11 of the U.S. Bankruptcy Code (Bankr. E.D. Va. Lead Case No.
24-10453) on March 13, 2024. In the petition signed by Glenn T.
Nunziata, interim chief executive officer and chief financial
officer, Enviva Inc. disclosed $2,893,581,000 in assets and
$2,631,263,000 in liabilities.

Judge Brian F. Kenney oversees the cases.

The Debtors tapped Vinson & Elkins, LLP as general bankruptcy
counsel; Kutak Rock, LLP as local counsel; Lazard Freres & Co., LLC
as investment banker; Alvarez & Marsal Holdings, LLC as financial
advisor; and Kurtzman Carson Consultants, LLC as notice and claims
agent.

The U.S. Trustee for Region 4 appointed an official committee to
represent unsecured creditors in the Debtors' Chapter 11 cases. The
committee tapped Akin Gump Strauss Hauer & Feld, LLP as lead
bankruptcy counsel; Hirschler Fleischer, PC as local counsel;
Ducera Partners, LLC as investment banker; and AlixPartners, LLP as
financial advisor.


EUROBISTRO LLC: Unsecureds to get 3.4% of Their claims in Plan
--------------------------------------------------------------
Eurobistro, LLC submitted a First Amended Sub-Chapter V Plan of
Reorganization

The Plan Proponent's financial projections show that the Debtor
will have projected disposable income of $8,136.00 or $226 per
month.

The final Plan payment is expected to be paid on June 1, 2027.

The Debtor and proposes to restructure its business loans and
provide for payment to unsecured creditors of all disposable income
during months 1-36 from future income of the Debtor derived from
income generated through its retail restaurant, Hangar One Bistro,
in order to obtain a discharge.

Under the Plan, Class 4 – General Unsecured Creditors are
impaired. The Debtor will pay the total amount of $8,136 to
unsecured claims at the rate of $226/month during months 1-36 of
the plan. Each allowed unsecured claim will received its prorata
share of this payment for approximately 3.4% repayment of all
unsecured claims.

Funds generated from operations through the Effective Date will be
used for Plan Payments; however, the Debtor's cash on hand as of
Confirmation will be available for payment of Administrative
Expenses.

Attorneys for the Debtor:

     Thomas C. Adam, Esq.
     ADAM LAW GROUP, P.A.
     2258 Riverside Avenue
     Jacksonville, FL 32204
     Tel: (904) 329-7249
     Fax: (904) 606-1245
     E-mail: tadam@adamlawgroup.com

A copy of the Disclosure Statement dated May 8, 2024, is available
at https://tinyurl.ph/cHtPR from PacerMonitor.com.

                     About Eurobistro LLC

Eurobistro, LLC is a Florida limited liability company engaged in
the business of operation of a bar and restaurant at the Northeast
Florida Regional Airport in St. Augustine, FL.

The Debtor filed a petition under Chapter 11, Subchapter V of the
Bankruptcy Code (Bankr. N.D. Fla. Case No. 24-00317) on February 1,
2024, with $50,001 to $100,000 in assets and $100,001 to $500,000
in liabilities.

Judge Jacob A. Brown oversees the case.

Thomas C. Adam, Esq., represents the Debtor as legal counsel.


EVE FINANCIAL: Court Confirms Plan
----------------------------------
The court has entered an order confirming the Plan of Eve
Financial, Inc.

The Plan and the Debtor have satisfied all applicable requirements
for confirmation of the Plan under 11 U.S.C. Secs. 1129(a)(1)-(14)
and (a)(16). The Plan can and should be confirmed under 11 U.S.C.
Sec. 1191(a).

The Subchapter V Trustee shall be discharged from his obligations
and duties in this case upon the Debtor filing its notice of
substantial confirmation of the Plan as required by 11 U.S.C. Sec.
1183(c)(2).

Unless, prior to the confirmation hearing, a General Unsecured
Creditor opted to received common equity in the Debtor under Class
2 of the Plan, then each such General Unsecured Creditor shall be
entitled to the pro rata share of payments from the Unsecured
Creditor Fund.

Counsel for Eve Financial, Inc.:

     Charlie Shelton, Esq.
     7600 Burnet Road, Suite 530
     Austin, TX 78757
     Tel/Fax: (737) 881-7100
     E-mail: cshelton@haywardfirm.com

A copy of the Order dated May 8, 2024, is available at
https://tinyurl.ph/lILBU from PacerMonitor.com.

              About Eve Financial, Inc.,

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.


EXACTECH INC: S&P Lowers ICR to 'CCC-' on Limited Liquidity
-----------------------------------------------------------
S&P Global Ratings lowered its issuer credit rating on Exactech
Inc. to 'CCC-' from 'CCC' and its issue-level rating on its senior
secured debt to 'CCC-' from 'CCC'.

The negative outlook reflects the company's deteriorating liquidity
and high likelihood of default (through a distressed exchange or
bankruptcy filing) within six months. It also reflects S&P's
expectation that its EBITDA may not be sufficient to support annual
debt servicing requirements.

The downgrade reflects the increased risk of default, due to the
company's tight liquidity, approaching debt maturities, and high
litigation burden. Exactech's entire capital structure comes due in
less than nine months including its $50 million revolving credit
facility (fully drawn as of March 31, 2024) and its first-lien term
loan, which mature in November 2024 and February 2025,
respectively. S&P believes there is heightened refinancing risk
given its elevated financial leverage (S&P Global Ratings-adjusted
debt to EBITDA was 23.5x in 2023), negative free operating cash
flow (FOCF), and a significant product litigation burden (as of
Dec. 31, 2023, the company has increased its accrued product
liability reserve to $135.8 million from $48.2 million prior year).
The majority of the litigation exposure is uninsured because the
expected insurance recovery claims amounted only $15.4 million as
of Dec. 31, 2023. In addition, in the first quarter of 2024, the
company executed an additional product recall (on select Equinoxe
shoulder replacement products) related to packaging. As of March
31, 2024, the company has not accrued any liabilities associated
with this matter as it could not determine with certainty the
outcome of the potential claims. However, S&P believes such claims
could increase the potential liability even further.

In addition, the company's continued cash burn has further
deteriorated its liquidity position. As of March 31, 2024,
Exactech's cash balance decreased to $10.8 million, from $16.6
million as of the end of 2023, on continuous FOCF deficits, while
its revolver was also fully drawn. S&P believes the company may
exhaust its liquidity in the second half of 2024, although ongoing
capital infusions from the private equity could provide additional
runway. During the third quarter of 2023, Exactech received about
$15 million from its private-equity sponsor TPG.

The negative outlook reflects the company's deteriorating liquidity
and high likelihood of default (through distressed exchange or
bankruptcy filing) within six months. It also reflects our
expectation that EBITDA may not be sufficient to support annual
debt servicing requirements.

S&P would lower its rating on Exactech to 'D' (default) if the
company pursues an action it considers tantamount to a default
(i.e. a subpar debt exchange, bankruptcy filing or missed debt
payment [interest or principle] due to lack of liquidity).

S&P could raise its rating on Exactech if:

-- The company improves its liquidity position such that S&P no
longer view a default as likely in the next 12 months, which would
most likely occur due to a substantial capital infusion from its
private-equity sponsor; and

-- S&P does not believe a subpar debt exchange is likely.

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



EYECARE PARTNERS: Moody's Cuts CFR to 'Caa3', Outlook Stable
------------------------------------------------------------
Moody's Ratings downgraded EyeCare Partners, LLC ("ECP")'s
Probability of Default Rating to D-PD from Caa2-PD and Corporate
Family Rating to Caa3 from Caa2 following the closing of the
company's debt capital restructuring. Moody's downgraded the PDR to
D-PD as the rating agency considers the transaction to be a
distressed exchange. In a few business days, Moody's will upgrade
ECP's PDR to Caa3-PD, consistent with the probability of default
expectation embedded in the Caa3 CFR. Moody's assigned B3 ratings
to ECP's new $200 million senior secured first-out revolving credit
facility and $286 million senior secured first-out term loan A. The
rating agency also assigned a Caa3 rating to ECP's new $1,495
million senior secured second-out term loan B, a Ca rating to the
new $26 million senior secured third-out term loan C, and a C
rating to the $57 million senior secured fourth-out term loan D. In
addition, Moody's downgraded the ratings on the remaining senior
secured first lien term loan tranches (now fifth-out) to C from
Caa1 and the senior secured second lien term loan rating (now
sixth-out) to C from Ca. Moody's withdrew the ratings on the
company's senior secured first lien revolving credit facility
previously rated Caa1. The outlook was revised to stable from
negative.          

The rating action follows the debt recapitalization transaction
where ECP issued a new $286 million first-out term loan due August
2028, $200 million first-out revolving credit facility expiring May
2028, $1,495 million second-out term loan due November 2028, $26
million third-out term loan due November 2028, and $57 million
fourth-out term loan due November 2030. In the transaction, holders
of the first lien senior secured term loan tranches exchanged into
a new $1,495 million second-out term loan. The second lien term
loan holders exchanged for a new third-out and fourth-out term
loan. Moody's considers this transaction to be a distressed
exchange, which is a default under the rating agency's definition.
In addition the existing senior secured first lien revolving credit
facility was replaced by a new $200 million first-out revolving
credit facility expiring in May 2028.

Governance risk is a consideration in the rating action given that
the debt recapitalization transaction is considered a distressed
exchange and therefore a default, which has negative implications
for creditors as it relates to financial strategy and risk
management.

RATINGS RATIONALE

EyeCare Partners, LLC ("ECP")'s  Caa3 Corporate Family Rating
reflects ECP's very high leverage and weak liquidity driven by an
aggressive growth strategy. Moody's expects the company's
debt/EBITDA to remain at above 12 times for the next 12 to 18
months. In addition, the rating is constrained by the company's
negative free cash flow relative to its high debt balances. In
Moody's view, the long-term capital structure will remain
unsustainable even with some reduction in debt through the
completed exchange.

Moody's expects cash flow to remain negative over the next 12-18
months, even when assuming the company elects to use the partial
PIK option for the second-out term loan. Pro forma total interest
expense (PIK plus cash) remains largely unchanged compared to
before the debt exchange.

The rating further reflects moderate geographic concentration in
two states, Michigan and Missouri, which would make ECP more
susceptible to an economic downturn. Moody's expects that leverage
will remain very high as ECP will be challenged to meaningfully
grow earnings in the face of operational headwinds despite on-going
cost savings initiatives. There continues to be large non-recurring
expenses related to business improvement initiatives. As such,
ECP's EBITDA continues to remain heavily adjusted raising concerns
about earnings quality.

The rating is supported by favorable fundamentals for the vision
care industry including ageing population, the growing prevalence
of myopia and cataracts and the non-discretionary nature of vision
correction. The debt transaction pushes out the maturities of the
debt outstanding to 2028 -2030 and reduces the cash interest burden
on the company as there are partial to full PIK features on some of
the new debt instruments.

Moody's expects that ECP will maintain weak liquidity over the next
12-18 months and will rely on its new $200 million first out
revolving credit facility that expires in 2028. At the close of the
transaction, ECP had $26 million of cash on balance sheet.  Moody's
expects that ECP will generate negative free cash flow over the
next 12-18 months. Moody's expects ECP will have full availability
on the revolver during the forecast period as there is a holiday on
the springing covenant until Q1 2026.

The B3 ratings on ECP's $200 million first out revolving credit
facility and $286 million first-out term loan reflect the
instruments' first priority position with respect to the $1,495
million second-out term loan (rated Caa3), $26 million third-out
term loan (rated Ca), the $57 million fourth-out term loan (rated
C), remaining senior secured first lien term loans (rated C) and
second lien term loan (rated C). The Caa3 rating on the new
second-out term loan, Ca rating on the new third-out term loan, C
rating on the new fourth-out term loan and C rating on the
remaining existing first and second lien term loans reflect the
weak expected recovery in a default scenario.

ECP's CIS-5 indicates that the rating is lower than it would have
been if ESG risk exposures did not exist and that the negative
impact is more pronounced than for issuers scored CIS-4. Primary
drivers of the CIS-5 include social risk exposures (S-4) and
governance risks (G-5). ECP has social risks exposures related to
customer relations, human capital and responsible production. As a
provider of eye care services, ECP encounters reputational risk and
is exposed to labor cost inflation. Governance risks include ECP's
aggressive debt-funded expansion strategy under private equity
ownership which has led to very high leverage and a weak liquidity
profile.

The stable outlook reflects Moody's view that ECP's financial
leverage will remain very high over the next 12 to 18 months,
increasing the probability of default .

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

ECP's ratings could be upgraded if ECP demonstrates a substantial
improvement in earnings quality evidenced by a return to EBITDA
growth along with a significant decrease in add-backs to EBITDA.
The ratings could also be upgraded if the company materially
reduces leverage to a more sustainable level. A material
improvement in liquidity could also lead to an upgrade.

Ratings could be downgraded if operating performance and liquidity
further deteriorate. Further rising likelihood of debt impairment
could also lead to a ratings downgrade.

EyeCare Partners, LLC, headquartered in St. Louis, Missouri, is the
largest medically-focused eye care services provider. EyeCare
Partners, LLC is vertically integrated, providing optometry,
ophthalmology and retail products. EyeCare Partners, LLC has more
than 700 locations across 18 states. For the LTM September 30, 2023
period, EyeCare Partners, LLC generated roughly $1.7 billion of
revenues. EyeCare Partners, LLC is owned by Partners Group.

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


FAIRPORT BAPTIST: PCO Says Patient Care Remains Stable
------------------------------------------------------
Eric Huebscher, the court-appointed patient care ombudsman, filed
his 12th report regarding the quality of patient care provided at
the nursing home operated by Fairport Baptist Homes and its
affiliates.

The PCO continued with bi-weekly phone calls with Fairport's senior
leadership. During these calls, Fairport informed the PCO of any
material changes, which may have had an impact on patient care. He
updated, for the most part, on the sale and financing process by
both the seller and the buyer's representative.

In his report, the PCO noted that Fairport continued to maintain
stable and uninterrupted health services to its residents. The
resident census has remained stable at approximately 90 residents.
The healthcare providers continue to recruit qualified candidates
as well as continuing to shift agency personnel to employees.

The PCO and Fairport's senior management and personnel have
continued to work in a professional and cordial manner. This has
enabled the PCO to efficiently discharge his responsibilities and
ensure that patient care is monitored in an appropriate fashion.
The PCO encourages the healthcare provider to be timelier and more
transparent in its disclosures of information to the PCO,
especially related to staffing issue.

As of May 3, patient care has not been compromised and remains
stable.  

A copy of the twelfth PCO report is available for free at
https://urlcurt.com/u?l=91yBZv from PacerMonitor.com.

                   About Fairport Baptist Homes

Fairport Baptist Homes and its affiliates, Fairport Baptist Homes
Adult Care Facility, Inc., FBH Community Ministries and FBH
Distinctive Living Communities, Inc., operate skilled nursing care
facilities.

Fairport Baptist Homes owns a New York-licensed 142-bed residential
health care facility at the FBH campus in Fairport, N.Y., and 42
independent living units known as Deland Acres.

On May 6, 2022, Fairport Baptist Homes and its affiliates sought
Chapter 11 bankruptcy protection (Bankr. W.D.N.Y. Lead Case No.
22-20220). In the petition filed by Fairport President Thomas H.
Poelma, Fairport Baptist Homes listed $1 million to $10 million in
assets and $10 million to $50 million in liabilities.

The Debtors tapped John A. Mueller, Esq., at Lippes Mathias, LLP as
bankruptcy counsel and Pullano & Farrow, PLLC as special counsel.
Epiq Corporate Restructuring, LLC is the claims and noticing
agent.

The U.S. Trustee for Region 2 appointed an official committee of
unsecured creditors in the Debtors' Chapter 11 cases on June 2,
2022. Dentons US, LLP and ToneyKorf Partners, LLC serve as the
committee's legal counsel and financial advisor, respectively.

Eric M. Huebscher, the patient care ombudsman appointed in the
Debtors' cases, is represented by Kelly C. Griffith, Esq., at
Harris Beach, PLLC.


FENDER MUSICAL: Moody's Alters Outlook on 'B2' CFR to Stable
------------------------------------------------------------
Moody's Ratings affirmed Fender Musical Instruments Corporation's
B2 Corporate Family Rating and B2-PD Probability of Default rating.
Concurrently Moody's affirmed the B3 senior secured term loan
rating. The outlook was changed to stable from negative.

The outlook change to stable reflects Fender's improving liquidity
and Moody's expectation that operating profit will stabilize,
inventory levels will continue to subside, and the company will
continue to deleverage modestly over the next 12-18 months. Moody's
anticipates that operating performance will stabilize though
volumes will remain pressured until a more robust recovery of
guitar and amplifier demand in the musical instruments develops.

Moody's forecasts that the volume of the guitar industry will
remain flat or potentially decrease modestly over the subsequent
12-18 months period in North American and European markets, though
grow modestly in APAC regions. However, with Fender offering
products at all price points, it can capitalize on the growth in
custom and premium guitars to achieve moderate net revenue growth
and improve cash flow and liquidity. As Fender's liquidity
improves, Moody's expects the company to gain greater financial
flexibility to navigate volatility in demand.

Moody's expects Fender's EBITDA margin (on a Moody's adjusted
basis) will stabilize at just below 12% - a level that is lower
than the mid-teens historical average, driven by slower recovery
from manufacturing inefficiencies at the US factory and higher
incentive compensation cadence. Moody's forecasts annual free cash
flow between $25 to $30 million, while strategically managing
working capital through deferral of non-essential capital
investments. Moody's anticipates that Fender will apply most of the
free cash flow it generates towards repayment of its ABL revolver
balance with a focus on leverage reduction aligned with its
financial policy that targets debt-to-EBITDA leverage of 3.0x. As a
result, Moody's forecasts that debt-to-EBITDA leverage will decline
modestly to about 4.2x by the end of 2025 from 4.6x as of March 31,
2024. Additionally, the company will maintain good liquidity as it
uses excess free cash to pay down its ABL balance. Fender had
approximately $25 million of cash on hand and $73 million of ABL
availability as of March 31, 2024, with the next maturity of a $400
million term loan not due until 2028.

RATINGS RATIONALE

The B2 CFR reflects Fender's strong brand awareness and market
position in the musical instruments category. The company also has
good geographic diversity and a long-standing good reputation of
product quality supported by a well-diversified retail distribution
channel. Offsetting some of these strengths are a narrow product
focus and earnings volatility due the discretionary nature of
demand for musical instruments which have recently been compounded
by the current challenged economic environment. The company also
has high but manageable financial leverage and a history of debt
financed acquisitions.  Weaker economic growth adds to challenges
from slowdown in demand from elevated volumes during the pandemic.
Fender's scale remains relatively small with annual revenue under
$1 billion, a narrow yet expanding product focus, and considerable
concentration of revenues with Guitar Center Inc. (NEW) (Caa1,
Negative) and Sweetwater Borrower, LLC
(B2, Stable).  

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

The ratings could be upgraded if the company demonstrates the
ability to generate consistently positive free cash flow, maintains
good liquidity, and operates with debt-to-EBITDA below 4x. An
upgrade would also require a high degree of confidence of Moody's
part of rising consumer demand for musical instrument products
drives steady improvement in revenue and earnings.

The ratings could be downgraded if lower product volumes, reduction
in market share or cost increases lead to earnings decline, if
liquidity deteriorates or free cash flow is not maintained at a
consistently positive level, and debt-to-EBITDA is sustained above
6x. A more aggressive financial policy could also lead to a
downgrade.

The principal methodology used in these ratings was Consumer
Durables published in September 2021.

Fender Musical Instruments Corporation was founded in 1946 and is
dual headquartered in Hollywood, California and Scottsdale,
Arizona. Fender develops, manufactures, and purchases musical
instruments, accessories, and related products for sale and
distribution to wholesale and retail outlets globally. The
company's product portfolio includes fretted instruments (comprised
of electric, acoustic, and bass guitars), guitar amplifiers, audio
equipment and software, and other accessories. Fender also offers
digital products and services that are centered around musical
education and in-home audio recording or broadcasting. Fender is
well diversified across retail distribution channels including a
growing direct-to-consumer e-commerce segment. Fender's portfolio
of brands includes Fender, Fender Custom Shop, Squier, Gretsch, and
high-performance guitars such as Jackson, Charvel and EVH (the
company is a licensee of the Gretsch and Eddie Van Halen brands),
Bigsby and PreSonus. Servco Pacific Capital, a long-term investor,
acquired a majority stake from TPG Growth in February 2020. The
company generates annual revenue of approximately $890 million.


FGV FRESNO: Unsecureds owed $4M and Unimpaired in Plan
------------------------------------------------------
FGV Fresno LP, a California limited partnership, submitted a Second
Amended Disclosure Statement, dated May 8, 2024.

Debtor owns real property consisting of a 3 Story, 56,760 sq. ft.,
apartment building, on 2.1271 acres ("Property").

On March 27, 2024, the Court held a hearing on the Debtor's sale of
the Property free and clear of liens and over objections, granted
the Sale Motion. On April 11, 2024, the Court entered an order
granting the Sale Motion and authorizing the Debtor to sell the
Property to Buyer for $5.8 million. Buyer has already released to
the Debtor $350,000 of the Purchase Price in the form of a
nonrefundable deposit. Escrow is set to close on the sale of the
Property on July 1, 2024.

The proceeds from the sale of the Property, along with proceeds
generated from the Debtor's pursuit of its Litigation Claims, will
be used to fund the payments under the Plan.

Under the Plan, Class 3 All General Unsecured Claims that are not
Administrative Claims or Priority Claims totaling $4,057,081 and
are not impaired. Allowed General Unsecured Claims will be paid in
full on their allowed claims within 90 days of the Effective Date.

A Disclosure Statement Hearing will be held on June 12, 2024 at
1:30 p.m. in Courtroom: 5C, U. S. Bankruptcy Court, 411 West Fourth
Street, Santa Ana CA 92701

Attorneys for the Debtor:

     Robert P. Goe, Esq.
     Reem J. Bello, Esq.
     GOE FORSYTHE & HODGES LLP
     17701 Cowan, Suite 210
     Irvine, CA 92614
     Tel: (949) 798-2460
     Fax: (949) 955-9437
     E-mail: rgoe@goeforlaw.com
             rbello@goeforlaw.com

A copy of the Disclosure Statement dated May 8, 2024, is available
at https://tinyurl.ph/soXmD from PacerMonitor.com.

         About FGV Fresno

FGV Fresno LP, a limited partnership in Irvine, Calif., is
primarily engaged in renting and leasing real estate properties.

FGV Fresno filed its voluntary petition for Chapter 11 protection
(Bankr. C.D. Calif. Case No. 23-10170) on Jan. 31, 2023, with $10
million to $50 million in assets and $1 million to $10 million in
liabilities. Judge Scott C. Clarkson oversees the case.

The Debtor tapped Robert P Goe, Esq., at Goe Forsythe & Hodges, LLP
as legal counsel.


FLORIDA FOOD: Moody's Lowers CFR to Caa3 & First Lien Debt to Caa2
------------------------------------------------------------------
Moody's Ratings downgraded Florida Food Products, LLC's (FFP)
Corporate Family Rating to Caa3 from Caa2 and Probability of
Default Rating to Caa3-PD from Caa2-PD. Moody's also downgraded the
ratings on the company's backed senior secured first lien revolving
credit facility and backed senior secured first lien term loan to
Caa2 from Caa1. Additionally, Moody's affirmed the Ca rating on the
company's backed senior secured second lien term loan. The outlook
is negative.

The downgrade reflects Moody's expectations that EBITDA will only
improve slightly in the next 12 months, resulting in continued
elevated leverage, negative free cash flow, and weak liquidity. In
fiscal 2023, FFP's pro forma year over year sales declined 5%,
driven by declines in retail meat volumes within the clean label
cures segment and destocking activities at the company's second
largest customer within the natural flavors segment. Although FFP's
natural flavors customer began to resume orders in January 2024,
the decline in retail meat volumes within the clean label cures
segment is likely to persist in the near future as it is being
driven by a slowdown in the beef and pork industries. FFP is also
facing a potential slowdown in coffee sales, which when combined
with the ongoing slowdown in the protein sector is likely to lead
to further headwinds for the company. FFP's coffee extract segment,
which represented approximately 1/3 of fiscal 2023 sales has begun
to exhibit a slowdown in year over year growth, driven by a
slowdown in coffee sales in the foodservice channel. In the first
half of fiscal 2023 this segment reported a 14.7% increase in year
over year sales. However, the strong growth quickly slowed in the
second half of the year with sales only increasing 6.2% for the
full year. In 4Q23 the coffee extract segment reported a 3.9%
decline in year over year sales. The slowdown that the coffee
extracts division is experiencing combined with continued weakness
in the natural cures segment is posing significant headwinds for
FFP. These difficulties are further exacerbated by the elevated
interest costs on the company's term loans.

Moody's believes FFP will operate with weak liquidity in the next
12 to 18 months. As of December 31, 2023, FFP held $5 million in
cash and had approximately $19 million of availability ($31 million
drawn) on a $50 million senior secured credit facility that expires
in 2026.  This compares to $17 million of cash and roughly $20
million drawn on the revolver at the end of 2022 with
the deterioration driven by negative free cash flow and required
term loan amortization. Given Moody's forecast for FFP to generate
flat to slightly negative free cash flow in the next 12 months,
Moody's believes additional revolver borrowings are necessary to
fund the required term loan amortization and will further weaken
liquidity. Weak liquidity is limiting the company's financial
flexibility to invest in an operational turnaround and could
elevate default risk.

The underperformance relative to the 2023 budget, deterioration in
liquidity and high leverage stemming from earnings weakness and the
heavy debt burden from the 2021 leveraged buyout and subsequent
acquisitions are negative governance issues that are key factors in
the rating action. As a result, Moody's changed the financial
strategy and risk management score to 5 from 4, the governance
issuer profile score to G-5 from G-4 and the credit impact score to
CIS-5 from CIS-4.

Although FFP is facing operating headwinds, Moody's is forecasting
the company to generate mid-single digit EBITDA growth in the next
12 to 18 months driven by new customer wins, a recovery from
customer inventory destocking, and manufacturing cost savings as a
result of plant consolidation. In the next 12 months, Moody's is
forecasting FFP's Moody's adjusted debt to EBITDA to decline to
approximately 9-10x from 12.2x as of December 31, 2023.

Moody's affirmed the Ca rating on the second lien term loan because
the rating continues to reflect Moody's view of loss given default
and expected loss.

RATINGS RATIONALE

FFP's Caa3 CFR broadly reflects its very small scale as measured by
revenue,  competition in the fragmented clean label ingredients
market it serves, and negative free cash flow and weak liquidity
that raises risk of a debt restructuring to address the company's
unsustainably high leverage. Moody's projects FFP's debt-to-EBITDA
leverage of 12.2x (incorporating Moody's adjustments) for the
fiscal year ended December 31, 2023 will decline over the next year
but to a still high level in a 9-10x range. Inflationary cost
pressures, a slowdown in the protein sector, lower food volumes and
a more recent slowdown in coffee extract sales are weakening
earnings. Moody's expects these factors along with higher interest
costs will continue to lead to negative free cash flow and reliance
on the revolver over the next 12 months. Additionally, use of
higher leverage under private equity ownership weakens the credit
profile despite sizable equity contributions to help fund 2022
acquisitions. The credit profile is supported by the company's
established market position in the very niche and attractive
vegetable and fruit based clean label ingredients market with a
market leading position in the clean label cures segment. The
rating benefits from FFP's strong margins, lack of customer
concentration, and good growth prospects driven by growing consumer
demand for natural ingredients and healthier food. FFP also
benefits from its 2021-2022 acquisitions that diversified the
company's portfolio to include coffee extract, tea extract,
flavors, and nutritional products. Such products provide some
growth opportunities.

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

The negative outlook reflects Moody's expectation that FFP's
operating performance will remain weak and that negative free cash
flow in the next 12 months will continue to create a reliance on
the revolver. The negative outlook also reflects Moody's view that
the risk of a distressed exchange or other debt restructuring could
increase further if the company's operating performance and free
cash flow do not improve.

The ratings could be downgraded if the company's operating
performance does not improve, free cash flow remains negative,
liquidity weakens, the likelihood of a distressed exchange or
default increases, or recovery values deteriorate.

The ratings could be upgraded if the company significantly improves
its operating performance, generates consistent positive free cash
flow on an annual basis, reduces leverage, and improves liquidity.

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

Headquartered in Lake Mary, Florida, Florida Food Products, LLC is
a producer of vegetable and fruit based food and beverage
ingredients. Florida Food Products, LLC generated revenue of
approximately $265 million for the fiscal year ended December 31,
2023. The company was acquired by Ardian and MidOcean Partners in
October 2021.


FRANCHISE GROUP: Experiences Steep Decline as It Looks to Cut Debt
------------------------------------------------------------------
Jill R. Shah of Bloomberg News reports that Franchise Group Inc.,
the firm at the center of a controversy surrounding B. Riley
Financial Inc.'s finances, posted steep drops in first-quarter
results as it grapples with looming maturities on its debt load,
according to people familiar with the matter.

The owner of brands such as Vitamin Shoppe and American Freight
told investors revenue showed a double-digit drop from a year
earlier, according to the people. Adjusted earnings before
interest, taxes, depreciation and amortization plunged to around
$25 million from about $62 million, said the people, who asked not
to be identified discussing the private figures.

                     About Franchise Group Inc.

Franchise Group, Inc., through its subsidiaries, operates
franchised and franchisable businesses including The Vitamin
Shoppe, Pet Supplies Plus, LLC, Badcock Home Furniture & More,
American Freight, Buddy's Home Furnishings and Sylvan Learning
Systems, Inc.


FTX GROUP: Ex-Official Asks Court for Leniency in 18-Month Sentence
-------------------------------------------------------------------
Elliot Weld of Law360 reports that a former top FTX official has
asked a Manhattan federal judge for a lenient 18-month sentence,
saying he was not part of company co-founder Sam Bankman-Fried's
inner circle and was as shocked as everyone else to learn that the
crypto exchange was operating a fraud that siphoned billions in
customer funds.

                       About FTX Group

FTX is the world's second-largest cryptocurrency firm. FTX is a
cryptocurrency exchange built by traders, for traders. FTX offers
innovative products including industry-first derivatives, options,
volatility products and leveraged tokens.

Then CEO and co-founder Sam Bankman-Fried said Nov. 10, 2022, that
FTX paused customer withdrawals after it was hit with roughly $5
billion worth of withdrawal requests.

Faced with liquidity issues, FTX on Nov. 9, 2022, struck a deal to
sell itself to its giant rival Binance, but Binance walked away
from the deal amid reports on FTX regarding mishandled customer
funds and alleged US agency investigations. Bankman-Fried agreed to
step aside, and restructuring vet John J. Ray III was quickly
named new CEO.

FTX Trading Ltd (d/b/a FTX.com), West Realm Shires Services Inc.
(d/b/a FTX US), Alameda Research Ltd. and certain affiliated
companies then commenced Chapter 11 proceedings (Bankr. D. Del.
Lead Case No. 22-11068) on an emergency basis on Nov. 11, 2022.
Additional entities sought Chapter 11 protection on Nov. 14, 2022.

FTX Trading and its affiliates each listed $10 billion to $50
billion in assets and liabilities, making FTX the biggest
bankruptcy filer in the US this year.  

According to Reuters, SBF shared a document with investors on Nov.
10, 2022, showing FTX had $13.86 billion in liabilities and $14.6
billion in assets. However, only $900 million of those assets were
liquid, leading to the cash crunch that ended with the company
filing for bankruptcy.

The Hon. John T. Dorsey is the case judge.

The Debtors tapped Sullivan & Cromwell, LLP as bankruptcy counsel;
Landis Rath & Cobb, LLP as local counsel; and Alvarez & Marsal
North America, LLC as financial advisor. Kroll is the claims agent,
maintaining the page https://cases.ra.kroll.com/FTX/Home-Index

The Official Committee of Unsecured Creditors tapped Paul Hastings
as counsel, FTI Consulting, Inc., as financial advisor, and
Jefferies LLC as the investment banker. Young Conaway Stargatt &
Taylor LLP is the Committee's Delaware and conflicts counsel.

Montgomery McCracken Walker & Rhoads LLP, led by partners Gregory
T. Donilon, Edward L. Schnitzer, and David M. Banker, is
representing Sam Bankman-Fried in the Chapter 11 cases.

White-collar crime specialist Mark S. Cohen has reportedly been
hired to represent SBF in litigation. Lawyers at Paul Weiss
previously represented SBF but later renounced representing the
entrepreneur due to a conflict of interest.


FTX GROUP: Sullivan Wants to End Claims of Aiding Fraud
-------------------------------------------------------
Madison Arnold of Law360 reports that Sullivan & Cromwell seeks to
ax claims Of aiding FTX fraud.

Sullivan & Cromwell LLP wants a Florida federal court to dismiss a
proposed class action alleging the firm knew about and helped
facilitate the massive fraud by FTX, saying customers of the
cryptocurrency exchange platform fail to claim anything beyond a
"series of speculative allegations with no factual basis."


                      About FTX Group

FTX is the world's second-largest cryptocurrency firm. FTX is a
cryptocurrency exchange built by traders, for traders. FTX offers
innovative products including industry-first derivatives, options,
volatility products and leveraged tokens.

Then CEO and co-founder Sam Bankman-Fried said Nov. 10, 2022, that
FTX paused customer withdrawals after it was hit with roughly $5
billion worth of withdrawal requests.

Faced with liquidity issues, FTX on Nov. 9, 2022, struck a deal to
sell itself to its giant rival Binance, but Binance walked away
from the deal amid reports on FTX regarding mishandled customer
funds and alleged US agency investigations.  Bankman-Fried agreed
to step aside, and restructuring vet John J. Ray III was quickly
named new CEO.

FTX Trading Ltd (d/b/a FTX.com), West Realm Shires Services Inc.
(d/b/a FTX US), Alameda Research Ltd. and certain affiliated
companies then commenced Chapter 11 proceedings (Bankr. D. Del.
Lead Case No. 22-11068) on an emergency basis on Nov. 11, 2022.
Additional entities sought Chapter 11 protection on Nov. 14, 2022.

FTX Trading and its affiliates each listed $10 billion to $50
billion in assets and liabilities, making FTX the biggest
bankruptcy filer in the US this year.  

According to Reuters, SBF shared a document with investors on Nov.
10, 2022, showing FTX had $13.86 billion in liabilities and $14.6
billion in assets. However, only $900 million of those assets were
liquid, leading to the cash crunch that ended with the company
filing for bankruptcy.

The Hon. John T. Dorsey is the case judge.

The Debtors tapped Sullivan & Cromwell, LLP as bankruptcy counsel;
Landis Rath & Cobb, LLP as local counsel; and Alvarez & Marsal
North America, LLC as financial advisor. Kroll is the claims agent,
maintaining the page https://cases.ra.kroll.com/FTX/Home-Index

The Official Committee of Unsecured Creditors tapped Paul Hastings
as counsel, FTI Consulting, Inc., as financial advisor, and
Jefferies LLC as the investment banker.  Young Conaway Stargatt &
Taylor LLP is the Committee's Delaware and conflicts counsel.

Montgomery McCracken Walker & Rhoads LLP, led by partners Gregory
T. Donilon, Edward L. Schnitzer, and David M. Banker, is
representing Sam Bankman-Fried in the Chapter 11 cases.

White-collar crime specialist Mark S. Cohen has reportedly been
hired to represent SBF in litigation. Lawyers at Paul Weiss
previously represented SBF but later renounced representing the
entrepreneur due to a conflict of interest.





FULLER AND FULLER: U.S. Trustee Unable to Appoint Committee
-----------------------------------------------------------
The U.S. Trustee for Region 4 disclosed in a court filing that no
official committee of unsecured creditors has been appointed in the
Chapter 11 case of Fuller and Fuller Enterprises, LLC.

                      About Fuller and Fuller

Fuller and Fuller Enterprises, LLC is a company in Greenville,
S.C., primarily engaged in renting and leasing real estate
properties.

The Debtor filed a petition under Chapter 11, Subchapter V of the
Bankruptcy Code (Bankr. D. S.C. Case No. 24-00816) on March 4,
2024, with $1 million to $10 million in assets and $500,000 to $1
million in liabilities. Joseph Kershaw Spong serves as Subchapter V
trustee.

Judge Helen E. Burris oversees the case.

Jason M Ward, Esq., at Jason Ward Law, LLC represents the Debtor as
bankruptcy counsel.


GALLERIA 2425: Unsecureds' Recovery Lowered to 90% in Plan
----------------------------------------------------------
Galleria 2425 Owner, LLC and 2425 WL, LLC submitted a Disclosure
Statement in support of Third Amended Joint Plan of Reorganization
dated May 9, 2024.

The Debtor's primary asset is a Class A office building located at
2425 West Loop South, Houston, Texas 77027(the "Property").

Generally speaking, the Plan provides for the payment to Claims
against the Debtor. The Debtor's equity will be auctioned with a
minimum bid of $2.5 million. Additionally, the Debtor has a
commitment for exit financing in the amount of $35 million. The
funds to be used for the payment of Allowed Claims and other
Distributions to be made under the Plan will come from the income
generated from the Property plus the new equity plus any other
available funds or property that the Reorganized Debtor may
otherwise possess on or after the Effective Date.

Under the Plan, QB Loop Property, LP will become the sole member of
the Debtor in return for a capital contribution of $2,5 million. QB
Loop Property, LP will designate one or more managers to operate
the Debtor's business. Such designation shall be made in writing at
least seven days before the Confirmation Hearing. However, the Plan
provides that there will be an auction for the equity of the
Debtor. If a party other than QB Loop Property, LP is the
successful bidder for the Debtor's equity then that party will
become the sole member of the Debtor.

The Debtor has continued to operate its business and the Property
during the pendency of the Bankruptcy Case. Operations have been
under the control of the chapter 11 trustee since February 9,
2024.

On May 9, the Debtor and 2425 WL, LLC filed their Third Amended
Joint Plan of Reorganization which provided for, inter alia, that
the secured tax claims would be paid in full, that NBK would
receive payment of approximately $26 million on its secured  and
unsecured claims or would receive payment of approximately
$62million under a Section 1111(b) election and that unsecured
creditors would receive 90% on their claims.

Class 5 consists of the Secured Claim of National Bank of Kuwait,
S.A.K.P., New York Branch. NBK shall receive one of three options
depending upon the conditions provided:

     * Option 1 shall apply if the Court determines that the
Confidential Settlement Agreement between NBK, the Debtor and Ali
Choudhri remains enforceable. If the Court makes this finding, then
NBK shall receive payment of $$26,038,490.58 in full satisfaction
of all claims secured and unsecured, such payment to be made within
30 days after the Effective Date.

     * Option 2 shall apply if the Court does not find that Option
1 applies and NBK makes the Section 1111(b) election and the Court
finds that such election is legally valid.1 Under Option 2, NBK
shall receive payment of its Allowed Claim in 480 equal monthly
installments without interest such that the total amount of
payments to NBK shall equal the amount of its Allowed Claim and the
present value of the stream of payments shall be equal the value of
the Allowed Secured Claim.

     * Option 3 shall apply if neither Option 1 nor Option 2
applies. Under Option 3, the Allowed Secured Claim of NBK will be
determined by the value of NBK's interest in the Collateral
securing such Allowed Claim, which value will be determined by
agreement of the parties or by the Bankruptcy Court following a
valuation proceeding in accordance with the Bankruptcy Code. NBK
has valued the Property for purposes of this plan at $18,600,000.
This value will control unless the Court determines that a
different value should be used. The ad valorem taxing authorities
or their assignees have filed claims for $6,455,683.92. Thus,
unless the Court determines otherwise, the Secured Claim of NBK
will be $12,144,316.08. The Debtor therefore believes that NBK's
claim is undersecured and that NBK may have a deficiency claim
against the Debtor's Estate, which amount will be included and
treated as a Class 7 unsecured claim under the Plan. Under Option
3, the Class 5 Allowed Secured Claim of NBK in the amount of
approximately $12,144,316.08 shall be paid with postconfirmation
interest at the non-default contract rate within 30 days after the
Effective Date.

Class 7 shall consist of the Allowed Unsecured Claim of National
Bank of Kuwait, S.A.K.P., New York Branch. If the Court finds that
Option 1 or Option 2 apply to the Class 5 Secured Claim of NBK,
then NBK shall not hold a Class 7 Unsecured Claim. If NBK does hold
a Class 7 Allowed Unsecured Claim, Class 7 shall receive a payment
which, when added to the amount paid to National Bank of Kuwait,
S.A.K.P. on account of its secured claim, will equal
$26,038,490.58. Any amounts paid by the Debtor or any party related
to the Debtor subsequent to the Petition Date but prior to the
Effective Date shall be credited to such payment. Such amount shall
be paid within 30 days after the Effective Date.

Class 8 consists of General Unsecured Claims. The Reorganized
Debtor will pay a total of 90% of the Allowed Claims of unsecured
creditors other than National Bank of Kuwait, S.A.K.P. New York
Branch and 2425 WL, LLC. Such payment shall be made within 120 days
after the Effective Date. The Debtor reserves the right to dispute
the claim of any creditor unless expressly stated in this plan.

New equity shall be issued in the Reorganized Debtor. If there is
not a class of Allowed Unsecured Claims which rejects the Plan,
then the New Equity shall be issued to QB Loop Property, LP in
return for a payment of $2.5 million. QB Loop Partners, LP is a
third party not owned or controlled by Ali Choudhri. In the event
that there is a class of Allowed Unsecured Claims which rejects the
Plan, New Equity in the Debtor shall be sold to the highest bidder.
QB Loop Property, LP shall make an initial bid of $2.5 million.

A full-text copy of the Disclosure Statement dated May 9, 2024 is
available at https://urlcurt.com/u?l=kqrZEp from PacerMonitor.com
at no charge.

Counsel to the Debtor:

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

                  About Galleria 2425 Owner

Galleria 2425 Owner LLC is a Single Asset Real Estate as defined in
11 U.S.C. Section 101(51B).

Galleria 2425 Owner LLC sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. S.D. Tex. Case No. 23-60036) on July 5,
2023. In the petition filed by Dward Darjean, as manager, the
Debtor reports estimated assets between $10 million and $50 million
and estimated liabilities between $50 million and $100 million.

The Honorable Bankruptcy Judge Christopher M. Lopez oversees the
case.

The Debtor is represented by Melissa S Hayward, Esq., at Hayward &
Associates PLLC.


GATES CORP: Moody's Rates New $500MM Unsecured Notes 'B2'
---------------------------------------------------------
Moody's Ratings assigned a B2 rating to Gates Corporation's planned
$500 million backed senior unsecured notes. The company's other
ratings, including its Ba3 corporate family rating, Ba3-PD
probability of default rating, Ba2 senior secured credit facilities
and B2 senior unsecured rating are unaffected. The outlook is
stable. The company's speculative grade liquidity ("SGL") rating
was unchanged at SGL-1.

Gates will use the $500 million of new unsecured notes together
with a $1.3 billion term loan announced earlier this week and $25
million of cash, to refinance the company's existing $1.2 billion
first lien term loan due 2027, repay $568 million of existing
senior unsecured notes due 2026 and pay fees and expenses
associated with the transaction. The ratings on the existing first
lien term loan due 2027 and unsecured notes due 2026 will be
withdrawn at the close of the transaction.  

RATINGS RATIONALE

Gates Ba3 CFR reflect the company's strong presence in the highly
engineered industrial components market with a focus on
manufacturing power transmission and fluid power units. The company
benefits from its large scale, brand strength and dominant position
as a supplier across diverse industrial end markets. Gates has a
substantial aftermarket presence (about 64% of revenue) that
supports EBITDA margin around 20% and good cash flow.  

However, Gates is exposed to highly cyclical end markets such as
oil & gas, agriculture and construction. Moody's expects revenue
growth to remain under pressure and decline 2-4% in 2024 from
sluggish demand. Debt-to-EBITDA was 3.5 times at March 31, 2024.

The stable outlook reflects Moody's expectation of steady demand in
the company's business that will enable Gates to generate positive
free cash flow that can support debt repayment.

Moody's expects Gates' liquidity will be very good, as reflected in
the SGL-1 speculative grade liquidity rating. The company had a
sizeable cash balance of about $522 million at March 31, 2024. In
addition, Gates will have full availability on the $500 million
revolving credit facility that will expire in 2026. Moody's expects
the company to generate $270 million in free cash flow in 2024,
which should be more than ample to help offset seasonal working
capital swings and fund small bolt-on acquisitions.

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

The ratings could be upgraded if debt-to-EBITDA is sustained below
3.25 times and EBITA-to-interest approaches 5.0 times. Moody's
would also expect maintenance of a conservative financial policy,
including a prudent approach to returns to shareholders.
Maintenance of very good liquidity would also be required for a
rating upgrade.

A ratings downgrade would be driven by debt-to-EBITDA sustained
above 4 times or EBITA-to-interest below 3.0 times. Debt funded
acquisitions, share buybacks, or shareholder distributions that
increase leverage or weaken liquidity could also lead to a
downgrade.

The principal methodology used in this rating was Manufacturing
published in September 2021.

Gates Corporation, located in Denver, Colorado, is a leading global
manufacturer of power transmission belts, fluid power products and
critical components used in diverse industrial and automotive
applications. The company is a wholly-owned subsidiary of Gates
Industrial Corporation PLC (NYSE: GTES), which was formed at the
time of its IPO in January 2018. Gates Corporation is 19.9% owned
by The Blackstone Group L.P.


GIRAFFE ENTERTAINMENT: Beverly Brister Named Subchapter V Trustee
-----------------------------------------------------------------
The Acting U.S. Trustee for Region 13 appointed Beverly Brister,
Esq., a practicing attorney in Benton, Ark., as Subchapter V
trustee for Giraffe Entertainment, Inc.

Ms. Brister will be paid an hourly fee of $300 for her services as
Subchapter V trustee. Should travel be required outside of Saline
or Pulaski Counties, the Subchapter V trustee will seek a
compensation rate of $100 per hour for actual travel time
incurred.

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

The Subchapter V trustee can be reached at:

     Beverly I. Brister, Esq.
     Attorney at Law
     212 W. Sevier
     Benton, AR 72015
     Phone: 501-778-2100
     Email: bibristerlaw@gmail.com

                    About Giraffe Entertainment

Giraffe Entertainment, Inc. owns and operates 810 Billiards &
Bowling, which features 16 bowling lanes, billiard tables, a sports
simulator, axe throwing lanes, and an arcade.

Giraffe Entertainment filed its voluntary petition for relief under
Chapter 11 of the Bankruptcy Code (Bankr. W.D. Ark. Case No.
24-70714) on April 30, 2024, listing $344,845 in assets and
$2,369,810 in liabilities. The petition was signed by Erik Covitz
as managing member.

Judge Bianca M. Rucker presides over the case.

Stanley V. Bond, Esq., at Bond Law Office represents the Debtor as
counsel.


GLOBAL FERTILITY: No Decline in Patient Care, 4th PCO Report Says
-----------------------------------------------------------------
David Crapo, the court-appointed patient care ombudsman, filed a
fourth report regarding the quality of patient care provided by
Global Fertility & Genetics New York, LLC.

The report covers the period from February 27 to May 1.

The PCO has not received any information indicating that quality of
care provided to Global Fertility's patients (including patient
safety) is not acceptable and is currently declining or is
otherwise being materially compromised.

In light of the lack of any negative information about Global
Fertility and its clinical staff, the oversight and supervision
provided by Global Fertility's clinical staff appears sufficient to
uncover quality of care deficits as they arise.

The PCO's receipt on a regular basis of updates to the information
the PCO requests from Global Fertility and periodic visits to the
facility will provide a reasonable basis to monitor whether the
quality of care (including patient safety) provided by Global
Fertility is declining or otherwise materially compromised.

The PCO has found no evidence of a decline in the quality of
patient care and safety at the facility.

A copy of the ombudsman report is available for free at
https://urlcurt.com/u?l=ly4VSZ from PacerMonitor.com.

The ombudsman may be reached at:

     David N. Crapo
     Gibbons P.C.
     One Gateway Center
     Newark, New Jersey 07102-5310
     Telephone: (973) 596-4523
     Facsimile: (973) 639-6244
     Email: dcrapo@gibbonslaw.com

                 About Global Fertility & Genetics

Global Fertility & Genetics, New York, LLC is a reproductive
endocrinology and fertility center in New York.

The Debtor filed Chapter 11 petition (Bankr. S.D.N.Y. Case No.
23-10905) on June 6, 2023, with $289,407 in assets and $1,123,740
in liabilities. Judge Philip Bentley oversees the case.

Michael J. Kasen, Esq., at Kasen & Kasen, P.C. is the Debtor's
legal counsel.

David Crapo is the patient care ombudsman appointed in the Debtor's
Chapter 11 case.


GLOBAL PRIME: Yann Geron Named Subchapter V Trustee
---------------------------------------------------
The U.S. Trustee for Region 2 appointed Yann Geron, Esq., at Geron
Legal Advisors, LLC as Subchapter V trustee for Global Prime Realty
1, Corp.

Mr. Geron will be paid an hourly fee of $850 for his services as
Subchapter V trustee and will be reimbursed for work-related
expenses incurred.

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

The Subchapter V trustee can be reached at:

     Yann Geron, Esq.
     Geron Legal Advisors, LLC
     370 Lexington Avenue, Suite 1101
     New York, NY 10017
     Phone: (646) 560-3224
     Email: ygeron@geronlegaladvisors.com

                    About Global Prime Realty 1

Global Prime Realty 1 Corp. filed Chapter 11 petition (Bankr.
E.D.N.Y. Case No. 24-41869) on May 1, 2024, with $1 million to $10
million in assets and $500,001 to $1 million in liabilities. The
petition was filed pro se.


GOL LINHAS: Unveils New 5-Year Financial Plan
---------------------------------------------
GOL Linhas Aereas Inteligentes S.A. (B3: GOLL4), a leading domestic
airline in Brazil, on May 27 announced the next important milestone
in its financial restructuring process initiated in the United
States Bankruptcy Court, disclosing its new 5-Year Financial Plan
(the "GOL 5-Year Plan" or the "5-Year Plan") that is expected to
serve as the foundation for the Company's standalone legal plan of
reorganization under Chapter 11 (the "Plan of Reorganization").

"We are pleased to reach another important milestone in our
financial restructuring process," said Celso Ferrer, Chief
Executive Officer. "Since the start of this process, GOL has
continued operating successfully in the normal course and
demonstrated strong execution of our commercial strategy while
maintaining a disciplined approach to managing costs. As we have
previously communicated, we have successfully renegotiated
agreements for a substantial majority of our aircraft with our
lessors and are following our strategic plan to invest in our
engines and increase the size of the operating fleet and capacity,
while maintaining high productivity and operational efficiency. The
new GOL 5-Year Plan we disclosed today serves as a clear roadmap
for our next phase, during which we will continue to advance our
long-term strategies of improving the travel experience, including
affordability of travel and customer choice to expand our position
as a leading airline in Latin America. With a clear plan in place,
we can begin preparing for the competitive exit financing process
we will begin shortly as a means of ensuring GOL has the strongest
possible financial foundation upon our emergence from Chapter 11."

GOL 5-Year Plan

The GOL 5-Year Plan includes details on the Company's continuing
efforts to improve operational and financial performance. The
5-Year Plan targets a return to pre-COVID levels of domestic
capacity by 2026. The Company's forecast also demonstrates GOL's
commitment towards expanding its network, both domestically and
internationally, while maximizing profits over the long term. In
order to support its planned expansion, the GOL 5-Year Plan
projects the growth of the Company's fleet to 169 aircraft by 2029
while investing in its existing fleet in the near-term.

As a result of this strategic approach, under the GOL 5-Year plan,
EBITDA margins (expressed as a % of Total Revenue) are expected to
be depressed in 2024 (dropping to approximately 23%, versus 27% in
2023) as the Company rebuilds its fleet capacity but are expected
to rebound to approximately 29% in 2025, reach approximately 30% in
2026 and grow thereafter to approximately 34% by 2029. EBITDA
margins will be driven in part by the implementation of a R$ 1
billion annual profit improvement program which will allow GOL to
maintain a competitive unit cost advantage over its peers.

The 5-Year Plan is based on achieving robust liquidity and a strong
balance sheet. Through a contemplated US$ 1.5 billion equity raise,
the Company will repay its existing Debtor-in-Possession financing
while adding incremental liquidity to its balance sheet. Additional
secured debt financings are expected to be refinanced at emergence
from Chapter 11, which is projected to lead to a substantial
improvement in cash liquidity on a sustained basis. With the
contemplated balance sheet transactions under the 5-Year plan,
liquidity levels are expected to reach approximately 18% and 25% of
trailing 12 months revenue ("LTM") by year-end 2025 and 2029, and a
net leverage ratio (measured as Total Debt less Liquidity / EBITDA)
of approximately 3.6x, 2.9x and 1.7x in 2025, 2026 and 2029,
respectively.

As part of GOL's ongoing financial restructuring process, the
Company has provided certain key stakeholders with financial
reports and updates that may constitute material non-public
information. As a result, GOL is issuing this material fact while
simultaneously publishing a summary of the GOL 5-Year Plan and the
Company's scenarios for the exit financing on its investor
relations website: https://ri.voegol.com.br/en/. The information
contained in the summary of the 5-Year Plan contains
"forward-looking statements" based on estimates and assumptions
that are inherently subject to specific business, economic and
competitive risks, uncertainties and contingencies, many of which,
with respect to future business decisions, are subject to change.
Investors are cautioned not to make investment decisions based on
the GOL 5-Year Plan, as actual results may differ materially from
those expressed or implied therein.

Fleet Update

As part of GOL's financial restructuring process, as of May 24,
2024, the Company has had agreements approved by the U.S.
Bankruptcy Court for 113 aircraft and 48 spare engines that include
meaningful lease concessions (in terms of both rent and redelivery
obligations), early aircraft redeliveries, and significant engine
maintenance support. The Company is now reviewing competitive
offers of concession packages from lessors covering all, or
substantially all, of its remaining aircraft. The Company expects
to make decisions with respect to those aircraft shortly.

In total, the concession packages from lessors are expected to
provide the Company with the financial support necessary to
overhaul all engines required to rebuild its capacity to levels
consistent with the 5-Year Plan. Such investment in engine
overhauls will mean capacity for 2024 will be temporarily below the
Company's 2023 level (thus impacting the Company's 2024 EBITDA),
the Company's capacity will rebuild quickly in 2025 and beyond. In
addition, the Company has received approval to finance new aircraft
and engine deliveries and expects to continue taking new 737 MAX
deliveries during the restructuring process as well as thereafter.

Exit Financing / Plan of Reorganization

As previously disclosed, in connection with GOL's ongoing Chapter
11 proceedings, the Company has initiated discussions regarding the
financing plan that will underpin its Plan of Reorganization on a
standalone basis. The Plan of Reorganization will set forth the
terms of GOL's reorganization and its successful emergence from
Chapter 11. The exit financing process will involve (i) refinancing
an estimated US$ 2.0 billion (plus any allowed make-whole and
default interest) on account of secured debt obligations on a
long-term basis, and (ii) an injection of new capital into the
Company of approximately US$ 1.5 billion through the issuance of
new shares. The terms and conditions of this significant capital
increase will be determined in due course, in full compliance with
Brazilian law and the United States Bankruptcy Code.

The Company and its advisors intend to conduct a competitive
process whereby they will evaluate exit financing proposals and any
viable, competitive alternative transactions, including
opportunities presented by potential sources of equity and debt
capital ("Transactions"). GOL's decision to pursue any such
Transactions will require U.S. Bankruptcy Court approval.

The Company notes that the aforementioned competitive process will
commence in early June and is expected to extend at least until
late in the third quarter of 2024 and possibly into the fourth
quarter of 2024. While GOL anticipates a successful exit financing
process, there can be no assurance that the process will result in
any Transactions.

In order to secure such critical exit financing, the Plan of
Reorganization, if approved by the requisite majorities of GOL's
creditors and the U.S. Bankruptcy Court, will need to substantially
compromise the Company's unsecured debt and other unsecured claims.
Any value ascribed to such unsecured bonds and other unsecured
claims under its Plan of Reorganization is uncertain but will
likely result in a substantial reduction from par value. In
addition, we have been advised by counsel that the United States
Bankruptcy Code requires unsecured debt claims against the Company
to be paid in full before equity is entitled to receive any
recovery. Because the Company's debt obligations significantly
exceed the Company's equity, it is highly likely that our existing
common and preferred shares will have minimal value upon emergence,
and, consequently, investing in our shares therefore implies
significant risk.

Advisors

In connection with its restructuring efforts, GOL is working with
Milbank LLP as its U.S. restructuring counsel, Seabury Securities
LLC as financial advisor and investment banker, and AlixPartners,
LLP as financial advisor. In addition, Lefosse Advogados is serving
as the Company's Brazilian counsel.

                     About Gol GOLL4.SA

GOL Linhas Aereas Inteligentes S.A. provides scheduled and
non-scheduled air transportation services for passengers and cargo;
and maintenance services for aircraft and components in Brazil and
internationally.  The company offers Smiles, a frequent-flyer
program to approximately 20.5 million members, allowing clients to
accumulate and redeem miles.  It operates a fleet of 146 Boeing 737
aircraft with 674 daily flights.  The company was founded in 2000
and is headquartered in Sao Paulo, Brazil.

GOL Linhas Aereas Inteligentes S.A. and its affiliates and its
subsidiaries voluntarily filed for Chapter 11 protection (Bankr.
S.D.N.Y. Lead Case No. 24-10118) on Jan. 25, 2024.

GOL Linhas estimated $1 billion to $10 billion in assets as of the
bankruptcy filing.

The Debtors tapped Milbank Llp as counsel, Seabury Securities Llc
as restructuring advisor, financial advisor and investment banker,
Alixpartners, LLP, as financial advisor, and HUGHES Hubbard & Reed
LLP as aviation related counsel.  Kroll Restructuring
Administration LLC is the claims agent.



GRAY TELEVISION: Gets $750 Million New Senior Secured Term Loan
---------------------------------------------------------------
Gray Television, Inc. (NYSE: GTN) announced May 15, 2024, the
commencement of a refinancing process for its existing $1.15
billion term loan due 2026 and up to $450 million of its 5.875%
senior notes due 2026, with the goal of extending a significant
portion of its near-term debt maturities.

Overall, the Company is targeting refinancing that outstanding debt
with approximately $750 million of new senior secured term loans
maturing in 2029 and approximately $750 million of additional
senior secured debt, together with cash on hand and borrowings of
approximately $100 million under its revolving credit facility due
2027.

In addition, Gray announced that it has received commitments to
increase its revolving credit facility maturing on December 31,
2027, from $552.5 million to $680 million. Upon closing of this
upsized revolver, Gray intends to terminate a separate $72.5
million revolving credit facility maturing on December 1, 2026.
Upon completion of these latest revolver transactions, and in
combination with the February 2024 upsizing and extension of its
revolver, Gray will have increased its total capacity under, and
extended, its revolver from $500 million with varying maturity
dates in 2026, to $680 million with a maturity date of December 31,
2027,
reflecting strong support from our banking partners.

The terms of the proposed refinancing transactions will be
disclosed upon completion of the transactions.  The proposed
refinancings will be subject to market and customary closing
conditions, and no assurance can be provided about the timing,
terms, or interest rate associated with the planned refinancing, or
that the refinancing transactions will be completed.

                     About Gray Television

Gray Television, Inc., a television broadcast company, owns and
operates television stations and digital assets in the United
States. The company was formerly known as Gray Communications
Systems, Inc. and changed its name to Gray Television, Inc. in
August 2002. Gray Television, Inc. was founded in 1897 and is
headquartered in Atlanta, Georgia.










H2O INVESTMENT: Trustee Gets OK to Sell West Linn Property
----------------------------------------------------------
Michael Markham, the Subchapter V trustee for H2O Investment
Properties, LLC, got the green light from a U.S. bankruptcy judge
to sell the company's real property located at 909 SW Schaeffer
Road, West Linn, Ore.

Judge Caryl Delano of the U.S. Bankruptcy Court for the Middle
District of Florida approved the sale of the property to Hussein
and Camelia Chaer for $2.115 million.

The property is being sold "free and clear" of liens, claims and
interests, according to court filings.

H2O will use the proceeds from the sale to, among other things, pay
Citadel Servicing Corp.'s secured claim of $1.5 million, Umpqua
Bank's secured claim of $117,679, and Loan Processing Services
Corp.'s secured claim of $206,000.

               About H2O Investment Properties

H2O Investment Properties LLC is in the business of purchasing,
improving, and disposing of distressed property.  

H2O Investment filed a petition for relief under Subchapter V of
Chapter 11 of the Bankruptcy Code (Bankr. M.D. Fla. Case No.
23-00373) on April 3, 2023. Michael C. Markham has been appointed
as Subchapter V trustee.

In the petition filed by Ronald G. Sapp, manager, the Debtor
reported assets and liabilities between $1 million and $10 million.
The petition states that funds will be available to unsecured
creditors.

Judge Caryl E. Delano oversees the case.

Michael R. Dal Lago, Esq., at Dal Lago Law, serves as the Debtor's
counsel.


HANOVER COLLEGE: Moody's Affirms Ba1 Issuer Rating, Outlook Stable
------------------------------------------------------------------
Moody's Ratings has revised Hanover College, IN's outlook to stable
from negative and affirmed the college's Ba1 issuer and revenue
bond ratings. The college had $23 million in outstanding debt as of
June 30, 2023.

The revision of the outlook to stable from negative is driven by
strengthening student demand for Hanover's graduate health sciences
offerings, resulting in growing enrollment and net tuition revenue
despite continued market challenges for the college's traditional
undergraduate programs. Net tuition per student has grown nearly
34% over the last three fiscal years as Hanover opened and expanded
Doctor of Occupational Therapy (OTD) and Doctor of Physical Therapy
(DPT) programs.

RATINGS RATIONALE

The affirmation of the Ba1 issuer rating reflects Hanover's small
scale of operations and fair strategic brand and positioning as a
small private college with ongoing student market challenges.
College leadership is projecting further enrollment growth over the
next four academic years due to increased graduate enrollment in
the OTD and DPT programs. Plans for a Doctor of Veterinary Medicine
Program provide further prospects for future enrollment and net
tuition revenue gains. This reorientation of Hanover's business
model has produced promising initial results, but the full extent
to which the college is able to strengthen its brand and strategic
position in a highly competitive environment remains speculative.
Deficit operations will persist as the college continues to manage
through challenged undergraduate student demand and invests
substantially in health science programs. Elevated endowment draws
to cover deficits are projected until at least fiscal 2027,
straining financial reserves and liquidity and increasing the
college's reliance on fundraising and investment returns to
maintain existing wealth levels. Hanover's annual liquidity remains
adequate, but monthly liquidity is low and a relatively high
proportion of illiquid and potentially volatile investments
presents additional risk. Financial leverage remains manageable as
good total cash and investments of $160 million in fiscal 2023
provide strong coverage of a low outstanding debt burden. Planned
additional borrowing to finance needed improvements to aging campus
infrastructure, however, will increase leverage somewhat.

The affirmation of the Ba1 revenue bond rating reflects the issuer
rating and the unsecured general obligation to pay debt service.

RATING OUTLOOK

The stable outlook reflects Moody's expectations that the college's
expanding graduate health sciences programs will continue to grow
overall enrollment and net tuition revenue over the next two
academic years. It also incorporates expectations that the
college's wealth will continue to provide resources for strategic
program investments and debt service obligations while budget
deficits persist over the next three fiscal years.

FACTORS THAT COULD LEAD TO AN UPGRADE OF THE RATINGS

-- Material strengthening of operating performance over multiple
fiscal years due to  growing net tuition revenue as reflected by
EBIDA margins near double digits as well as annual debt service
coverage over 1.5x

-- Outsized growth in wealth and liquidity through improved
fundraising or retained surpluses from operations
FACTORS THAT COULD LEAD TO A DOWNGRADE OF THE RATINGS

-- Notable decline in wealth and unrestricted liquidity that
results in fewer than 100 monthly days cash on hand and weaker
coverage of operations and debt

-- Inability to make meaningful progress towards fiscal balance
beyond fiscal 2024; or an inability to grow net tuition revenue

-- Issues or delays with achieving accreditation for new and
existing graduate health programs that results in enrollment
declines or program suspensions

-- Material additional debt issuance beyond current plans that
increases financial leverage

LEGAL SECURITY

Rated bonds are unconditional general obligations of the college.
There are no existing financial covenants or debt service reserve
fund requirements.

PROFILE

Hanover College, a small liberal arts college located in Hanover,
IN, is the oldest private college in the state of Indiana. Hanover
generated operating revenue of $41 million in fiscal 2023 and
enrolled 1,152 full-time equivalent (FTE) students as of fall
2023.

METHODOLOGY

The principal methodology used in these ratings was Higher
Education Methodology published in August 2021.


HOTOPP PROPERTIES: Jerome Kerkman Named Subchapter V Trustee
------------------------------------------------------------
The U.S. Trustee for Region 11 appointed Jerome Kerkman of Kerkman
& Dunn as Subchapter V trustee for Hotopp Properties, Inc.

Mr. Kerkman will be paid an hourly fee of $525 for his services as
Subchapter V trustee and will be reimbursed for work-related
expenses incurred.

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

The Subchapter V trustee can be reached at:

     Jerome R. Kerkman
     Kerkman & Dunn
     839 N. Jefferson St., Suite 400
     Milwaukee, WI 53202
     Phone: 414.277.8200
     Email: jkerkman@kerkmandunn.com

          About Hotopp Properties

Hotopp Properties, Inc filed its voluntary petition for relief
under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Ill. Case No.
24-80579) on May 1, 2024, listing $500,001 to $1 million in assets
and $100,001 to $500,000 in liabilities.

Judge Thomas M Lynch presides over the case.

Richard G Larsen, Esq., at Springer Larsen Greene, LLC represents
the Debtor as counsel.


INTELGENX: Application for Creditor Protection Under CCAA Okayed
----------------------------------------------------------------
IntelGenx Technologies Corp., a leading drug delivery company
focused on the development and manufacturing of pharmaceutical
films, on May 17 disclosed that the Québec Superior Court
(Commercial Division) (the "Court") has issued an initial order
(the "Initial Order") granting the Company and its subsidiaries
protection under the Companies' Creditors Arrangement Act (R.S.C.,
1985, c. C-36) (the "CCAA").

Since its inception, IntelGenx has funded its operations primarily
through public and private equity offerings, loans from business
partners and research and development support payments generated
from collaborations with third parties. The Company is currently
facing a short-term liquidity crisis as a result of its inability
to secure necessary bridge financing -- leading to a lack of time
and financial resources to complete an ongoing digital offering --
which liquidity crisis was exacerbated by delays in the regulatory
approval process for the commercialization of certain of
IntelGenx's products, resulting in the postponement of potential
additional revenue streams.

After a careful review of all available alternatives and following
thorough consultation with its legal and financial advisors, the
Company's Board of Directors determined that it was in the best
interest of IntelGenx and its stakeholders to file an application
for creditor protection under the CCAA. The protection afforded by
the CCAA is intended to provide the Company with the time and
breathing room necessary to implement a strategic review process
under the oversight of the Board of Directors and with the advice
of IntelGenx's professional advisors. In this regard, IntelGenx
anticipates that it will seek Court approval to initiate a formal
sale and investment solicitation process intended to generate
interest in either the business or the assets of IntelGenx, or in a
recapitalization of IntelGenx, with the goal of implementing one or
more transaction(s). The implementation of one or more
transaction(s) may be in addition to, or as an alternative, to a
CCAA plan of compromise or arrangement, to maximize return in
respect of IntelGenx's business and assets.

The Initial Order provides a stay of creditor claims and exercise
of contractual rights with a view to provide the Company some
breathing room to implement its strategic review process. IntelGenx
hopes for an outcome that will allow its superior film
technologies, including VersaFilm(R) and VetaFilm(R) technologies,
to realize their full potential and ensure the continuation of its
business as a going concern.

The Initial Order provides that the Company's management remains
responsible for the day-to-day operations of the Company and that
the Board of Directors remains intact. The Company is committed to
completing the restructuring process quickly and efficiently.

The Court has appointed Ernst & Young Inc. to serve as Monitor in
the CCAA proceedings and to assist the Company with its
restructuring efforts and report to the Court during the
restructuring.

The Initial Order authorizes interim debtor-in-possession financing
(DIP) financing in order to allow the Company to continue its
operations during the restructuring process and implement the
necessary restructuring measures.

Trading in the common shares of the Company on the Toronto Stock
Exchange (the "TSX") has been halted and it is anticipated that the
trading thereof will continue to be halted until a review is
undertaken by the TSX regarding the suitability of the Company for
listing on the TSX.

Further news releases will be provided on an ongoing basis
throughout the CCAA proceedings as required by law or otherwise as
may be determined necessary by the Company or the Court. Documents
relating to the restructuring process such as the Initial Order,
the Monitor's reports to the Court as well as other Court orders
and documents shall also be published and made accessible on the
Monitor's website: www.ey.com/ca/intelgenx.

                       About IntelGenx

IntelGenx (OCTQB: IGXT; TSX: IGX) -- https://www.intelgenx.com/ --
is a drug delivery company focused on the development and
manufacturing of pharmaceutical films. IntelGenx's superior film
technologies, including VersaFilm(R) , DisinteQ(TM) , VetaFilm(R)
and transdermal VevaDerm(TM) , allow for next generation
pharmaceutical products that address unmet medical needs.
IntelGenx's innovative product pipeline offers significant benefits
to patients and physicians for many therapeutic conditions.
IntelGenx's highly skilled team provides comprehensive
pharmaceutical services to pharmaceutical partners, including R&D,
analytical method development, clinical monitoring, IP and
regulatory services. IntelGenx's state-of-the-art manufacturing
facility offers full service by providing lab-scale to pilot- and
commercial-scale production.



INVITAE CORPORATION: Class 6 Unsecureds Will Get 100% of Claims
---------------------------------------------------------------
Invitae Corporation and its Debtor Affiliates filed with the U.S.
Bankruptcy Court for the District of New Jersey a Disclosure
Statement relating to the Joint Plan dated May 9, 2024.

Invitae is a leading medical genetics company that is in the
business of delivering genetic testing services, digital health
solutions, and health data services that support a lifetime of
patient care and improved outcomes.

While the Company was facing internal challenges as it navigated
its newly expanded footprint, its financial position was
exacerbated by external market conditions. Beginning in 2022,
Invitae took steps to address these pressures by implementing
several operational initiatives designed to realign its business to
focus on profitable growth. Additionally, the Company engaged with
certain holders of the 2028 Senior Secured Notes to address the
immediate cash burn and longer-term balance sheet issues.

After several months, pursuant to hard-fought and good faith
negotiations that included extensive diligence and meetings with
the Consenting Stakeholders and an ad hoc group of certain Holders
of the 2028 Convertible Notes (the "Unsecured Ad Hoc Group") on
February 13, 2024, the Debtors and approximately 78 percent of the
Holders of the 2028 Senior Secured Notes Claims entered into a
transaction support agreement (the "TSA"). The TSA contemplated,
among other things, the support of the Consenting Stakeholders for
the commencement of the Debtors' Chapter 11 Cases, the continuance
of the Debtors' prepetition marketing process in chapter 11, and
the allocation of sale proceeds pursuant to the eventual plan.

The Auction was competitive and involved hard-fought, arms-length
negotiations with each participating bidder. At the conclusion of
the Auction, the Debtors determined that Labcorp Genetics Inc. 's
("Labcorp," or the "Purchaser") bid represented the highest and
otherwise best bid for a value-maximizing transaction of the
Debtors' business. Accordingly, the Debtors designated Labcorp as
the Purchaser pursuant to the Notice of Successful Bidder with
Respect to the Auction Held on April 17 and 24, 2024 filed on April
24, 2024. The Purchaser's bid includes, among other things, a base
purchase price of $239 million in cash, plus additional non-cash
consideration including the preservation of a vast majority of
employees' jobs and payment of certain cure costs, subject to
certain terms and conditions.

On April 25, 2024, the Debtors sought Court approval to execute an
asset purchase agreement with the Purchaser to consummate the Sale
Transaction pursuant to the Notice of (I) Filing of the Asset
Purchase Agreement and Proposed Sale Order with Respect to the
LabCorp Sale Transaction, (II) Modified Cure Objection Deadline,
and (III) Rescheduled Sale Hearing. The Debtors, however, continue
to evaluate their options, and if the Debtors determine that an
alternative transaction providing for the sale of all, or
substantially all, of the Debtors' assets (an "Alternative
Transaction") would provide more value to stakeholders than the
Plan, the Debtors will pursue the Alternative Transaction, and will
provide Holders of Claims and Interests with additional information
and revised documents, as applicable.

The Plan ultimately contemplates the agreement memorialized by the
TSA and the resulting sale process that maximized Distributable
Value for stakeholders and ensured payment in full to multiple
classes of unsecured Claims. The Debtors conducted an independent
investigation into any potential Claims and Causes of Action that
could implicate, among other things, the priority of distributions
under the Plan and believe the terms set forth herein are fair,
reasonable and consistent with those priorities, and incorporate
hard fought concessions from the Consenting Stakeholders to
facilitate the sale process and distribution scheme contemplated
hereby. As such, the Debtors believe the Plan embodies a reasonable
and appropriate settlement of potential Claims and Causes of
Action.

Class 5 consists of Subsidiary Unsecured Claims. Except to the
extent that a Holder of an Allowed Subsidiary Unsecured Claim
agrees to a less favorable treatment, each Holder of a Subsidiary
Unsecured Claim that is Allowed as of the Effective Date shall
receive on the Effective Date or as soon as reasonably practicable
thereafter: payment in full in Cash or otherwise receive treatment
consistent with the provisions of section 1129(a) of the Bankruptcy
Code. The allowed unsecured claims total $6.4mm. This Class will
receive a distribution of 100% of their allowed claims.

Class 6 consists of Parent Unsecured Claims. Except to the extent
that a Holder of an Allowed Parent Unsecured Claim agrees to a less
favorable treatment, on the Effective Date or as soon as reasonably
practicable thereafter, each holder of a Parent Unsecured Claim
shall receive its Pro Rata share of any Distributable Value
following payment in full of Classes 1, 2, 3, 4, and 5 Claims, or
such other treatment as agreed by such Holder. The allowed
unsecured claims total $1,183.7mm. This Class will receive a
distribution of 0% of their allowed claims.

The Debtors shall fund distributions under the Plan with: (i) the
proceeds from the Sale Transaction, (ii) the Debtors' Cash on hand,
and (iii) the proceeds of any Causes of Action retained by the
Wind-Down Debtors. Each distribution and issuance referred to the
Plan shall be governed by the terms and conditions set forth in the
Plan applicable to such distribution or issuance and by the terms
and conditions of the instruments or other documents evidencing or
relating to such distribution or issuance, which terms and
conditions shall bind each Entity receiving such distribution or
issuance.

A full-text copy of the Disclosure Statement dated May 9, 2024 is
available at https://urlcurt.com/u?l=anGKzI from Kurtzman Carson
Consultants LLC, claims agent.

Proposed Co-Counsel to the Debtors:            

                    Joshua Sussberg, P.C.
                    Nicole L. Greenblatt, p.C.
                    Francis Petrie, Esq.
                    Jeffrey Goldfine, Esq.
                    KIRKLAND & ELLIS LLP
                    KIRKLAND & ELLIS INTERNATIONAL LLP
                    601 Lexington Avenue
                    New York, New york 10022
                    Tel: (212) 446-4800
                    Fax: (212) 446-4900
                    Email: joshua.sussberg@kirkland.com
                           nicole.greenblatt@kirkland.com
                           francis.petrie@kirkland.com
                           jeffrey.goldfine@kirkland.com

                      - and -

                   Spencer A. Winters, Esq.
                   KIRKLAND & ELLIS LLP
                   KIRKLAND & ELLIS INTERNATIONAL LLP
                   300 North LaSalle
                   Chicago, Illinois 60654
                   Tel: (312) 862-2000
                   Fax: (312) 862-2200
                   Email: spencer.winters@kirkland.com

Co-Counsel to the Debtors:           

                   Michael D. Sirota, Esq.
                   Warren A. Usatine, Esq.
                   Felice R. Yudkin, Esq.
                   Daniel J. Harris, Esq.
                   COLE SCHOTZ, P.C.
                   Court Plaza North, 25 Main Street
                   Hackensack, New Jersey 07601
                   Tel: (201) 489-3000
                   Email: msirota@coleschotz.com
                          wusatine@coleschotz.com
                          fyudkin@coleschotz.com
                          dharris@coleschotz.com

                       About Invitae Corp.

Invitae Corporation is a medical genetics company that is in the
business of delivering genetic testing services, digital health
solutions, and health data services that support a lifetime of
patient care and improved outcomes.

Invitae Corp. and five of its affiliates sought relief under
Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.N.J. Lead Case No.
24-11362) on Feb. 13, 2024. In the petition filed by Ana Schrank,
chief financial officer, disclosed $535,115,000 in assets against
$1,618,519,000 in debt.

Judge Michael B. Kaplan oversees the case.

Kirkland & Ellis LLP and Kirkland & Ellis International LLP are the
Debtors' bankruptcy counsel and Cole Schotz, P.C. is the Debtors'
co-bankruptcy counsel. Moelis & Company LLC is the Debtors'
investment banker. FTI Consulting Inc is the Debtors' restructuring
advisor. Kurtzman Carson Consultants LLC is the Debtors's notice
and claims agent. Deloitte Touche Tohmatsu Limited serves as the
Debtors' tax advisor.


J CABELAS: U.S. Trustee Unable to Appoint Committee
---------------------------------------------------
The U.S. Trustee for Region 4 disclosed in a court filing that no
official committee of unsecured creditors has been appointed in the
Chapter 11 case of J Cabelas, LLC.

                         About J Cabelas

J Cabelas, LLC sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. S.C. Case No. 24-01458) on April 24,
2024, with $100,001 to $500,000 in assets and $500,001 to $1
million in liabilities.

Judge Helen E. Burris presides over the case.

Kevin Campbell, Esq., at Campbell Law Firm, PA, represents the
Debtor as legal counsel.


J FRANKLIN: U.S. Trustee Unable to Appoint Committee
----------------------------------------------------
The U.S. Trustee for Region 4 disclosed in a court filing that no
official committee of unsecured creditors has been appointed in the
Chapter 11 case of J Franklin, LLC.

                         About J Franklin

J Franklin, LLC sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. S.C. Case No. 24-01457) on April 24,
2024. In the petition signed by Ronald B. Jennings, Jr., managing
member, the Debtor disclosed up to $500,000 in assets and up to $1
million in liabilities.

Judge Helen E. Burris oversees the case.

Kevin Campbell, Esq., at Campbell Law Firm, PA, represents the
Debtor as legal counsel.


JD MOTORSPORTS: U.S. Trustee Unable to Appoint Committee
--------------------------------------------------------
The U.S. Trustee for Region 4 disclosed in a court filing that no
official committee of unsecured creditors has been appointed in the
Chapter 11 case of JD Motorsports, Inc.

                       About JD Motorsports

JD Motorsports, Inc. is a professional racing team that is now the
number 1 non-NASCAR Cup Series Affiliated team in the NASCAR
Xfinity Series.

The Debtor earned its first playoffs birth in 2018, finishing tenth
in the NASCAR Xfinity Series standings. The Debtor has had a driver
finish in the top-20 of the Xfinity Series Driver points twenty
times. The Debtor operates from its garage located at 1210 Champion
Ferry Road, Gaffney, South Carolina.

The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. S.D. Case No. 24-01274) on April 8,
2024. In the petition signed by Johnny K. Davis. president, the
Debtor disclosed up to $1 million in assets and up to $10 million
in liabilities.

W. Harrison Penn, Esq., at Penn Law Firm LLC, represents the Debtor
as legal counsel.


JERUSALEM FOOD: Case Summary & 19 Unsecured Creditors
-----------------------------------------------------
Debtor: Jerusalem Food Services, Inc.
          d/b/a Jerusalem Restaurant
        99 West Mt. Pleasant Ave.
        Livingston NJ 07039

Business Description: The Debtor owns and operates full-service
                      restaurants.

Chapter 11 Petition Date: May 27, 2024

Court: United States Bankruptcy Court
       District of New Jersey

Case No.: 24-15349

Debtor's Counsel: Herbert K. Ryder, Esq.
                  LAW OFFICES OF HERBERT K. RYDER, LLC
                  531 U.S. Highway 22 East, Suite 182
                  Whitehouse Station, NJ 08889-3695
                  Tel: (908) 838-0543
                  Fax: (908) 838-0544
                  Email: hryder@hkryderlaw.com

Total Assets: $62,987

Total Liabilities: $1,018,117

The petition was signed by David Matthew as president.

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/3JCRLYA/Jerusalem_Food_Services_Inc__njbke-24-15349__0001.0.pdf?mcid=tGE4TAMA


JLM COUTURE: Reaches Bridal Dress Designer Deal
-----------------------------------------------
Ben Zigterman of Law360 reports that dressmaker JLM Couture told
Delaware's bankruptcy court Friday, May 10, 2024, it reached an
agreement in principle with a bridal dress designer, who was sued
by the company and had sought to convert its Chapter 11 case into a
Chapter 7 liquidation.

                       About JLM Couture

JLM Couture, Inc., operates a bridal design and manufacturing
business in New York. It operates 12 collections, nine of which are
bridal lines, one bridesmaid line and one flower girl line.

JLM Couture filed its voluntary petition for relief under Chapter
11, Subchapter V of the Bankruptcy Code (Bankr. D. Del. Case No.
23-11659) on Oct. 2, 2023, with $2,850,196 in total assets and
$2,115,305 in total liabilities. Joseph L. Murphy, president,
signed the petition.

Judge J. Kate Stickles oversees the case.

The Debtor tapped Cross & Simon, LLC, as its legal counsel.


KABBAGE INC: Reaches 2 Deals With FCA Amounting to $120 Million
---------------------------------------------------------------
Henrik Nilsson of Law360 reports that bankrupt online lender
Kabbage Inc. has agreed to pay $120 million in two separate deals
to resolve allegations it submitted thousands of false claims for
loan forgiveness and operated without adequate fraud controls in
place, the U.S. Department of Justice announced Monday, May 13,
2024.

                       About Kabbage Inc.

Founded in 2010 and headquartered in Atlanta, Ga., Legacy Kabbage,
a predecessor of Kabbage Inc. (doing business as KServicing) --
http://www.kservicing.com/-- was one of the leading fintech
providers of working capital to small businesses for over a
decade.

Legacy Kabbage began as a proprietary online lending platform for
small businesses, providing loan services to over 250,000 American
small businesses, many of which were businesses that struggled to
receive adequate funding through traditional banking institutions.

From 2020-2021, the company provided and facilitated necessary
funding to small business owners through PPP loans during the
COVID-19 pandemic. The company's existing technology infrastructure
spearheaded its PPP work, which led to a total of $7 billion in
loans being originated by the company.

The origination and servicing of PPP Loans and small business loans
to eligible borrowers was critical during a time of unprecedented
health and economic uncertainty brought about by the COVID-19
pandemic. On Aug. 16, 2020, much of the company's business was sold
to American Express Travel Related Services Company, Inc.  As a
result of the merger, KServicing now operates in a limited capacity
as (i) a servicer and subservicer of PPP Loans, (ii) a software
services provider for lenders of PPP Loans, and (iii) a servicer of
a minor portfolio of non-PPP small business loans.

To implement the wind down of their businesses, on Oct. 3, 2022,
Kabbage, Inc. d/b/a KServicing and certain of its affiliates each
filed a voluntary petition for relief under Chapter 11 of the
United States Bankruptcy Code (Bankr. D. Del. Lead Case No.
22-10951). Judge Craig T. Goldblatt oversees the cases.

Kabbage Inc. estimated $500 million to $1 billion in assets and
debt as of the bankruptcy filing.

The Debtors tapped Weil, Gotshal & Manges, LLP as general counsel;
Richards, Layton & Finger, PA as local counsel; AlixPartners, LLC
as financial advisor; KPMG International Limited as fraud review
services provider; Jones Day, LLP as government investigations
counsel; and Marc Sullivan, managing director at Phoenix Executive
Services, LLC, as chief financial officer. Omni Agent Solutions,
Inc. is the Debtors' claims agent and administrative advisor.

Greenberg Traurig, LLP, serves as counsel to the Debtors' board of
directors.


KIDKRAFT INC: Seeks Ch. 11 Bankruptcy, Plans to Sell Its Assets
---------------------------------------------------------------
Rick Archer of Law360 reports that toymaker KidKraft Inc. files for
Chapter 11 bankruptcy with plan to sell assets.

Dallas toy company KidKraft Inc. filed for Chapter 11 protection in
a Texas bankruptcy court Friday, May 10, 2024, with more than $100
million in debt, blaming economic headwinds and saying it has a
prepackaged sale plan.

                About KidKraft Inc.

KidKraft Inc. --
https://www.kidkraft.com --manufactures and sells wooden toys and
furniture. The Company offers easels, puzzles, dollhouses, tables,
chairs, and toddler beds.[BN]

KidKraft Inc. and affiliates sought relief under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. N.D. Tex. Case No. 24-80045) on May
10, 2024. In the petition filed by Geoffrey Walker, as chief
executive officer, the Debtor reports estimated assets and
liabilities between $100 million and $500 million each.

Honorable Bankruptcy Judge handles the case.

The Debtor is represented by:

     Matthew David Struble, Esq.
     Vinson & Elkins


KIDKRAFT INC: U.S. Trustee Appoints Creditors' Committee
--------------------------------------------------------
The U.S. Trustee for Region 6 appointed an official committee to
represent unsecured creditors in the Chapter 11 cases of KidKraft,
Inc. and its affiliates.

The committee members are:

     1. Fiona Yao
        Dongguan Shing Fai Furniture Co. Ltd.
        2nd Industrial Area
        Shang Dong Admin. Dist.
        Qishi, Dong Guan
        Guang Dong, China
        Phone: 86-13924331988
        Email: fionayao@hungfaigroup.com

     2. Anna Liu
        Kong Richs Furniture Vietnam Co. Ltd.
        Lot F7.F8, N5 Road
        Nam Tan Uyen Industrial Expanded
        Hoi Nghi Ward, Tan Uyen Town
        Binh Duong Province, Vietnam
        Phone: 86-13798866248
        Email: anna@kongrichsgroup.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 KidKraft

KidKraft, Inc. manufactures and sells wooden toys and furniture.
The Company offers easels, puzzles, dollhouses, tables, chairs, and
toddler beds.

KidKraft, Inc. filed its voluntary petition for relief under
Chapter 11 of the Bankruptcy Code (N.D. Tex. Case No. Bankr.
24-80045) on May 10, 2024, listing $100,000,001 to $500 million in
both assets and liabilities.

Judge Michelle V Larson presides over the case.

Matthew David Struble, Esq. at Vinson & Elkins represents the
Debtor as counsel.


KOKOMO KEY: Jerrett McConnell Named Subchapter V Trustee
--------------------------------------------------------
The U.S. Trustee for Region 21 appointed Jerrett McConnell, Esq.,
at McConnell Law Group, P.A. as Subchapter V trustee for Kokomo Key
Properties, Inc.

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

The Subchapter V trustee can be reached at:

     Jerrett M. McConnell, Esq.
     McConnell Law Group, P.A.
     6100 Greenland Rd., Unit 603
     Jacksonville, FL 32258
     Phone: (904) 570-9180
     Email: info@mcconnelllawgroup.com

                    About Kokomo Key Properties

Kokomo Key Properties, Inc. sought protection under Chapter 11 of
the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 24-01268) on
May 1, 2024, with up to $50,000 in assets and up to $10 million in
liabilities. Larry H. Cheshire, shareholder, signed the petition.

Judge Jacob A. Brown presides over the case.

Justin M. Luna, Esq., at Latham Luna Eden & Beaudine, LLP
represents the Debtor as legal counsel.


L AND L: U.S. Trustee Appoints Tamar Terzian as PCO
---------------------------------------------------
Tracy Hope Davis, the U.S. Trustee for Region 17, appointed Tamar
Terzian of Hanson Bridgett, LLP as patient care ombudsman for L and
L Care Home, LLC.

Pursuant to an order entered April 11, the court directed the
United States Trustee to appoint a PCO.

Section 333 provides that Tamar Terzian, as the patient care
ombudsman, shall:

     * Monitor the quality of patient care provided to patients of
the Debtors, to the extent necessary under the circumstances,
including, to the extent necessary, interviewing patients,
physicians, and other appropriate interested parties;

     * In the event that the patient care ombudsman determines that
the quality of patient care provided to patients of the Debtors are
declining significantly or are otherwise being materially
compromised, file with the Court a motion or a written report with
notice to the parties in interest immediately upon making such
determination;

     * As required by Section 333(b)(2) of the Bankruptcy Code, not
later than 60 days after the date of appointment, and not less
frequently than at 60-day intervals thereafter, report to the Court
after notice to the parties in interest, at a hearing or in
writing, regarding the quality of patient care provided to patients
of the Debtors.

To the best of the United States Trustee's knowledge and based on
the verified statement she has provided, Tamar Terzian has no
connections with L and L Care Home, LLC, creditors and other
parties-in-interest in the bankruptcy case.

The ombudsman may be reached at:

     Tamar Terzian, Esq.  
     Hanson Bridgett, LLP
     777 Figueroa Street
     Suite 4200
     Los Angeles, CA 90017
     Tel: (323) 210-7747
     Email: tterzian@hansonbridgett.com

                      About L and L Care Home

L and L Care Home, LLC sought protection under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. N.D. Cal. Case No. 24-40340) on March
11, 2024. In the petition signed by Melissa Lipardo, chief
executive officer, the Debtor disclosed up to $100,000 in assets
and up to $500,000 in liabilities.

Judge Charles Novack oversees the case.

Anthony O. Egbase, Esq., at A.O.E. Law & Associates, APC,
represents the Debtor as legal counsel.


LCM INVESTMENTS II: Moody's Affirms Ba3 CFR, Outlook Remains Stable
-------------------------------------------------------------------
Moody's Ratings affirmed LCM Investments Holdings II, LLC's
("Morgan Auto") Ba3 corporate family rating and Ba3-PD probability
of default rating as well as its B2 senior unsecured notes ratings.
The outlook remains stable.

The ratings affirmation reflects Moody's expectation that Morgan
Auto's operating performance and credit metrics will remain sound
despite gross profit per vehicle continuing to trend down as new
vehicle inventories grow following years of undersupply. The
affirmation also reflects Moody's view that Morgan Auto's financial
policies will remain relatively benign and supportive of leverage
remaining moderate and well below 5x with good liquidity.

RATINGS RATIONALE

Morgan Auto's Ba3 CFR considers its favorable market position in
its core central Florida market with an expanding presence in the
northern and southern parts of the state, solid operating and
acquisition track record and good liquidity. It also reflects
Morgan Auto's solid credit metrics.  For the LTM ended  March 31,
2024 debt/EBITDA and EBIT/interest coverage were 3.5x  and 5.7x,
respectively, pro forma for acquisitions. As inventories build and
gross profit continues to normalize down, Moody's expects some
deterioration in credit metrics over the next 12-18 months with
EBIT/Interest coverage declining to the 4x range and debt/EBITDA
remaining in the 3x range. Moody's expects overall deterioration
will be gradual and remain within tolerances for the rating level.

The credit profile also reflects governance considerations. While
Morgan Auto is privately owned by affiliates of Redwood Holdings,
LLC, its financial policy track record has supported moderate
leverage and has not resulted in excessive leverage from actions
such as debt-financed dividends or aggressive growth. Moody's has
revised Morgan Auto's governance issuer profile score to G-3 and
its credit impact score to CIS-3 from CIS-4 to reflect its track
record of moderate leverage and good liquidity.

The B2 rating on the senior unsecured notes, which is two notches
below the Ba3 corporate family rating, recognizes their junior
position in the capital structure behind the substantial floor plan
facilities (not rated), real estate term loan (not rated), and
revolving credit facilities.

The stable outlook reflects Moody's view that Morgan Auto will
remain disciplined in its approach to sourcing, pricing and
integrating future acquisitions and that its future shareholder
return strategy will be relatively benign. The stable outlook also
recognizes the flexibility in Morgan Auto's cost structure as
inventories and gross profits normalize toward pre-pandemic
levels.

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

Ratings could be upgraded if operating performance results in
debt/EBITDA being sustained below 4x and EBIT/interest maintained
above 4x, while preserving good liquidity and an overall balanced
financial strategy that ensures maintenance of this profile no
matter the industry environment. An upgrade would also require
increased brand diversity, as well as increased geographic
breadth.

Ratings could be downgraded if for any reason debt/EBITDA trended
toward 5x or EBIT/interest fell below 3x, or if liquidity were to
weaken.

Headquartered in Tampa, Florida, LCM Investments Holdings II, LLC
operates 72 franchised dealerships representing 31 brands in
Florida. Morgan Auto is majority owned by affiliates of Redwood
Holdings, LLC. Revenue for the LTM period ended March 31, 2024 was
approximately $8.5 billion.

The principal methodology used in these ratings was Retail and
Apparel published in November 2023.


LD HOLDINGS: S&P Lowers ICR to 'CCC+' on Announced Debt Exchange
----------------------------------------------------------------
S&P Global Ratings lowered its issuer credit rating on LD to 'CCC+'
from 'B-', assigned a 'CCC' issue-level rating and a recovery
rating of '5' to the proposed 2027 senior secured notes, and
lowered the rating on the existing 2028 senior unsecured notes to
'CCC-' from 'CCC+' and revised the recovery rating on them to '6'
from '5'.

The stable outlook reflects S&P's expectation that while LD will
continue to operate at a modest cash burn, it has no immediate
maturities and will have sufficient liquidity to operate over the
next 12 months.

LD proposed to holders of its 2025 senior unsecured notes to
exchange each par amount of existing notes tendered for 85 cents of
new notes plus a 25-cent early tender cash consideration if
tendered on or before June 3, or a 20-cent cash consideration if
tendered between June 3 and June 18. While this transaction would
reduce the company's total debt by up to $75 million, it would also
decrease its cash balance, which was $604 million as of the end of
first quarter, by up to $100 million - $125 million.

S&P said, "We expect that LD's originations will remain relatively
flat (or down slightly) in 2024 and that the company will continue
to operate at a loss. But mortgage rates and inventory of homes
will continue to play a significant factor as the company will
focus on purchase-driven lending volume. During the first quarter
2024, LD's origination volume declined by about 8% year over year
to $4.6 billion as the company posted a net loss of $34.2 million.
As of March 31, 2024, LD's debt-to-tangible equity ratio was 3.7x
versus 3.4x at the end of 2023. We believe this ratio may exceed 4x
if the company continues to operate at a loss in the next six to 12
months. Given the relatively high interest cost and strained
earnings, the company's weighted EBITDA interest coverage is weak,
at approximately 0.5x.

"While LD's gain-on-sale margin improved to 2.84% during the
quarter from 2.43% in the first quarter of 2023, we expect it to
remain sensitive to market competition and mortgage product mix,
resulting in further volatility."

On a positive note, LD slashed its operating expenses in the last
12-24 months as part of its Vision 2025 plan, which has narrowed
losses through the headcount reduction, business process
optimization, a cutback in marketing and third-party spending, and
real estate consolidation. The company's operating expense in 2023
was roughly 44% lower than in the prior year.

LD ended the first quarter with unrestricted cash of $604 million,
down from $660 million at the end of 2023. The company also has an
MSR book, which can be sold to address any immediate liquidity
needs. However, any material MSR sales would reduce the company's
steady servicing revenue stream. S&P expects LD's cash burn,
assuming no substantial MSR sales, to exceed $150 million over the
next 12 months.

S&P believes the company will continue to retain access to its
warehouse facilities and receive all necessary covenant amendments.
As a result of continued net losses, LD amended certain warehouse
lines related to its profitability covenants as of March 31, 2024,
in order to remain in compliance.

The stable outlook reflects our expectation that while LD will
continue to operate at a modest cash burn, it has no immediate
maturities and will have sufficient liquidity to operate over the
next 12 months.

S&P could lower the ratings in the next six to 12 months if:

-- S&P expects operating losses to continue widening, such that
LD's cash burn accelerates;

-- It is unable to get covenant amendments on its secured
facilities, such that a technical default is imminent;

-- Any regulatory findings erode the company's operating
performance; or

-- S&P expects heightened risk of default, including a
restructuring that S&P deems to be a distressed exchange.

S&P could raise its rating on LD if it is on a path to sustained
profitability and positive cash flow generation, while EBITDA
interest coverage improves and remains well above 1x.

California-based LD and its subsidiaries provide mortgages and
related services, such as servicing of loans and settlement
services for real estate transactions. LD primarily derives income
from gain on sale of loans to investors, servicing income, and fees
charged for settlement services related to the origination and sale
of loans.

-- S&P's simulated default scenario contemplates a default
occurring in 2026. A hypothetical default could occur because of
declines in origination activity or substantial curtailments of
business practices stemming from regulatory and compliance
deficiencies.

-- S&P thinks the causes of a simulated default would be inherent
to the company's operating activities.

-- Eventually, LD's liquidity and capital resources could become
strained so that it can't continue to operate without an equity
infusion or bankruptcy filing.

-- S&P believes creditors would place the most value on the
company's MSRs and have therefore valued the company through a
discrete asset valuation of its MSRs.

-- High delinquency rates depress MSR valuations

-- A sustained period of rapid amortization of MSRs and MSR sales,
with limited ability to refinance the repayments
Limited new originations, an increase in borrower delinquencies,
and a steeper discount rate to value MSRs

-- MSR values declining below the advance rate on the secured
funding facilities, leading to a breach in covenants; as a result,
any cross-default provisions are exercised, and the company enters
a liquidation process

-- Discrete asset value (after 5% administrative costs): $1.19
billion

-- Estimated priority claims: $1.24 billion

-- Collateral value available to secured creditors: $46.2 million

-- Estimated senior secured notes: $442.5 million

-- Recovery expectations for senior secured debt holders: 10%

-- Senior unsecured notes: $517.8 million

-- Recovery expectations for senior unsecured debt holders: 0%



LERETA LLC: S&P Downgrades ICR to 'CCC+' on Thin Liquidity
----------------------------------------------------------
S&P Global Ratings downgraded U.S.-based property data and
analytics provider Lereta LLC to 'CCC+' from 'B-' because it
believes the capital structure is currently unsustainable and
liquidity is weak, although S&P thinks a default is unlikely over
the next 12 months due to sponsor equity infusions.

The negative outlook reflects S&P's view of heightened risk of
default if Lereta underperforms our forecast during the next 12
months.

S&P said, "We think Lereta's liquidity will worsen through 2024
because of cash flow deficits, a fully drawn revolver, and weak
mortgage market recovery. Lereta burned cash and drew down most of
its revolver in 2023, and we expect it to be fully drawn through
2024. Weak mortgage market conditions, the loss of a large
customer, combined with Lereta's ongoing investments in a new
software platform and its acquisition of InfoPro in early 2023 were
the primary causes of the cash burn. Persistently high mortgage
rates in 2023 reduced residential mortgage volume originations over
35% in 2023, worse than we anticipated.

"We forecast mortgage origination volume improvement close to 5% in
2024. While recovery should continue through 2025, we note that the
Mortgage Bankers Association has consistently lowered its volume
forecast for 2024-2026 over the last several months, including in
its most recent forecast in May. We expect Lereta's revenue to
increase in the low- to mid-single-digit percents over the next two
years with EBITDA margin improvement. However, these operating
performance improvements are unlikely to be sufficient to generate
cash until at least 2025.

"Our 'CCC+' rating reflects our view that Lereta depends on its
sponsors' support and favorable business and economic conditions to
meet its financial commitments. Lereta's sponsors contributed $10
million cash in the first quarter and plan to commit another $10
million in the second quarter. Without these, we believe the
company would not meet its obligations in 2024."

Execution risks could delay the benefits of the company's
performance improvement initiatives in 2025. Lereta plans to make
several million dollars in additional structural cost cuts
throughout the year, which we estimate could help its margin
profile by 350-450 basis points (bps) by 2025. These include
workforce reductions; offshoring; office consolidations;
outsourcing title operations; and other business process
optimization. Further, S&P expects most of the investment costs
from its multi-year software re-platforming initiative to roll off
over the next year or so.

S&P said, "We also think revenue will increase over the next two
years on strong contract wins in early 2024 supported by good
service levels, and mortgage market recovery, although 2024 growth
will be muted due to 2023's one-off large customer loss. While
these factors pave a path to positive free cash flow in 2025, we
believe there is risk that actions will take longer or cost more to
implement than forecast. We forecast free operating cash flow
(FOCF) to debt at about 3% percent in 2025. This depends on the
company hitting its cost-reduction targets, executing well on the
completion and rollout of its new software platform, avoiding
competitive losses, and on mortgage origination volumes increasing
15%-20% by 2025 from 2023.

"The negative outlook reflects our view of a heightened risk of a
payment default if Lereta underperforms our forecast in the next 12
months."



LGID NY: Seeks Court Nod to Sell North Haven Properties for $3.6MM
------------------------------------------------------------------
LGID NY, LLC asked the U.S. Bankruptcy Court for the Eastern
District of New York to approve two separate agreements governing
the sale of its real properties in North Haven, Conn.

The company is selling to 30 Pomeroy Ave, LLC its real property
located at 405 Washington Ave., North Haven; and to Krown Point
Capital, LLC a portion of its interest in real properties located
at 413, 417, 419 and 425 Washington Ave., North Haven.

30 Pomeroy and Krown offered $2.1 million and $1.5 million for the
properties, respectively.

The properties will be sold "free and clear" of liens, claims,
encumbrances and interests, according to the sale agreements.

The private sales will generate more income than if the court
required the properties to be sold through public auction,
according to LGID's attorney.

LGID will use the proceeds from the sales to pay almost 75% of
Legalist, Inc.'s secured claim. The balance of the claim will be
funded by the contemplated exit financing to be secured by the
company's remaining interest in the properties.

Legalist provided LGID with a $4 million loan last year to help the
company get through bankruptcy.

                         About LGID NY

LGID NY, LLC, a company in Brooklyn, N.Y., filed its voluntary
petition for Chapter 11 protection (Bankr. E.D.N.Y. Case No.
22-43171) on Dec. 21, 2022, with $1 million to $10 million in
assets and $500,000 to $1 million in liabilities.

Judge Elizabeth S. Stong oversees the case.

The Debtor tapped Joel M. Shafferman, Esq., at Shafferman &
Feldman, LLP as legal counsel and the Law Office of Charles S.
Silver as special real estate counsel.


LIBERTY TRIPADVISOR: Adds Going Concern Language in Form 10-Q
-------------------------------------------------------------
Seeking Alpha reports that Liberty TripAdvisor (OTCQB:LTRPA)
disclosed "going concern" language in its 10-Q filing.

Liberty Tripadvisor (OTCQB:LTRPA) said in its latest 10-Q filing
that  "we believe there is substantial doubt about the Company's
ability to continue as a going concern within one year after the
date that the financial statements are issued."

Tripadvisor (NASDAQ:TRIP) recently said that a special committee of
its board determined there is no transaction with a third party
that is in the best interests of the company and its stockholders.
The special committee will continue to evaluate proposed
alternatives as appropriate, Tripadvisor said in its Q1 earnings
release.

The update comes after reports in March 2024 that Tripadvisor
(TRIP) has been working with advisers after receiving takeover
interest. Tripadvisor in February announced it formed a special
committee to evaluate acquisition proposals. Gregory Maffei's
Liberty Tripadvisor (TRIP) which owns 21% of TRIP and has 57%
voting control of TRIP, also announced it's considering a
transaction whereby all LTRPA and TRIP shares would be purchased
for cash.

                   About Liberty TripAdvisor

Liberty TripAdvisor Holdings, Inc. (OTCMKTS: LTRPA, LTRPB) consists
of its subsidiary Tripadvisor.  Tripadvisor is the world's largest
travel platform, aggregating reviews and opinions from its
community of travelers about accommodations, restaurants,
experiences, airlines and crui



LINDSEY HEATING: Timothy Stone Named Subchapter V Trustee
---------------------------------------------------------
The Acting U.S. Trustee for Region 8 appointed Timothy Stone of
Newpoint Advisors Corporation as Subchapter V trustee for Lindsey
Heating & Air Conditioning, Inc.

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

The Subchapter V trustee can be reached at:

     Timothy Stone
     Newpoint Advisors Corporation
     750 Old Hickory Blvd, Building Two, Suite 150
     Brentwood, TN 37027
     Phone: 800-306-1250/615-440-8273
     Fax: (702) 543-3881
     Email: tstone@newpointadvisors.us

             About Lindsey Heating & Air Conditioning

Lindsey Heating & Air Conditioning, Inc. sought protection under
Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Tenn. Case No.
24-01606) on May 6, 2024, with $50,001 to $100,000 in assets and
$100,001 to $500,000 in liabilities.

Steven L. Lefkovitz, Esq., at Lefkovitz & Lefkovitz represents the
Debtor as legal counsel.


LOKAL LLC: Cameron McCord Named Subchapter V Trustee
----------------------------------------------------
The U.S. Trustee for Region 21 appointed Cameron McCord, Esq., at
Jones & Walden, LLC, as Subchapter V trustee for Lokal LLC.

Ms. McCord will be paid an hourly fee of $425 for her services as
Subchapter V trustee and will be reimbursed for work-related
expenses incurred.  

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

The Subchapter V trustee can be reached at:

     Cameron McCord, Esq.
     Jones & Walden, LLC
     699 Piedmont Avenue, NE
     Atlanta, GA 30308
     Phone: (404) 564-9300
     Fax: (404) 564-9301
     Email: cmccord@joneswalden.com

                          About Lokal LLC

Lokal LLC filed Chapter 11 petition (Bankr. N.D. Ga. Case No.
24-54465) on May 3, 2024, with $1 million to $10 million in both
assets and liabilities. The petition was filed pro se.


MAJORDRIVE HOLDINGS IV: Moody's Affirms 'B3' CFR, Outlook Stable
----------------------------------------------------------------
Moody's Ratings affirmed MajorDrive Holdings IV, LLC's ("Club Car")
B3 corporate family rating and B3-PD probability of default rating.
Concurrently, Moody's affirmed the B2 ratings on the senior secured
term loans and the Caa2 rating on the senior unsecured notes. The
outlook is stable.

"The ratings affirmation reflects Moody's expectations of a
relatively stable operating environment with modest earnings growth
and a continuation of positive free cash flow," said Eoin Roche,
Moody's Ratings' Vice President-Senior Credit Officer.

RATINGS RATIONALE

The B3 CFR reflects high financial leverage, relatively modest
scale and an aggressive financial policy. As of March 2024, Club
Car had limited financial flexibility with debt-to-EBITDA around 6
times. Club Car is vulnerable to economic downturns, particularly
on the consumer side of its business. The company is also
susceptible to inflationary pressures, although Moody's expects
these pressures to continue to gradually abate. The company's March
2024 backlog is considerably below previous levels and this reduces
near-term revenue visibility.

Notwithstanding still high financial leverage, Moody's recognizes
the meaningful earnings growth and improved quality of earnings
that has taken place over the last 18 months. Moody's also
recognizes Club Car's strong standing in niche low-speed vehicle
markets. The company's strong market position helps to partially
mitigate risks associated with its product and end-market
concentration.

The stable outlook reflects Moody's expectations of modest earnings
growth and a continuation of positive free cash generation.

Moody's expects Club Car to operate with good liquidity over the
next 12-18 months. The company had a cash balance of $40 million as
of March 2024. Amortization on term loan debt is manageable at
around $9 million per annum and there are no near-term principal
obligations. Club Car generated almost $50 million in free cash
flow in 2023 and Moody's anticipates positive free cash flow in
2024, with FCF-to-debt in the low single-digits. External liquidity
is provided by a $150 million asset-backed revolving credit
facility that expires in June 2026. As of March 2024, $6 million
was drawn under the facility with $144 million of availability. The
revolver contains a springing fixed charge coverage ratio of 1.1x,
that comes into effect if availability drops below the greater of
10% of revolver commitments or $7.5 million. Moody's does not
expect this covenant to come into effect.

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

Ratings could be upgraded if debt-to-EBITDA is expected to be
sustained  below 6 times. Any upgrade would require robust
liquidity with FCF-to-debt consistently in the mid-single-digits.
Maintenance of solid market positions and EBITDA margins
consistently near 20%. Ratings could be downgraded if
debt-to-EBITDA is sustained above 7 times or if liquidity weakens
such that free cash flow is negative. Weakening in demand for Club
Car vehicles or a large debt-financed shareholder distribution
could also result in a downgrade.

Headquartered in Augusta, Georgia, Club Car is a manufacturer of
golf carts and other low-speed vehicles and related aftermarket
parts and services. Revenue for the twelve months ended March 2024
was approximately $1.3 billion.

The principal methodology used in these ratings was Manufacturing
published in September 2021.


MEDROBOTICS INC: Sells Its Assets Amid Chapter 7 Bankruptcy
-----------------------------------------------------------
Sean Whooley of massdevice.com reports that Medrobotics is selling
off assets amid Chapter 7 bankruptcy.

Tiger Group and Liquidity Services announced the availability of
all surgical robotics assets from a Medrobotics plant at auction.

The companies say they’re offering all assets from the fully
furnished, 40,000-square-foot plant in Raynham, Massachusetts,
including the purchase or lease of the building. Assets, including
surgical robotics platforms used by nearly 30 hospitals around the
world, are available in a turnkey sale.

Medrobotics boasted an FDA-cleared, CE-marked surgical robotic
platform for several years. The company designed its minimally
invasive Flex system to access hard-to-reach anatomy for
otolaryngology, colorectal and gastroenterology procedures.

However, the company hit a number of stumbling blocks over the past
several years — including a significant IP case loss — leading
to the sale of these assets. That involved legal battles, some of
which remain ongoing. Just this week, the company’s Chapter 7
bankruptcy trustee agreed to a $2 million payout from the insurers
of CEO Samuel Straface and other company officials to settle claims
of breached fiduciary duties. (The settlement was not an
acknowledgment of wrongdoing.)

                 A look at how Medrobotics got here

Medrobotics once generated buzz in the highly competitive surgical
robotics space. (MassDevice's sibling Medical Design & Outsourcing
site even had a feature article about Straface in early 2018.)

However, by March 2020, the local NBC 10 I-Team reported that the
company faced state fines for not paying employees for more than
one month. Officials reportedly attributed the issues to a cash
flow problem and promised the payments, plus a day off and a $2,000
bonus once investor funds came through. Those payments never came
through, according to NBC 10.

Maura Healey, then the Massachusetts attorney general, issued a
$1.2 million citation for failing to pay wages on time.

Medrobotics faced further troubles later in 2020, with courts
agreeing with Endobotics in a patent spat against the company.
Endobotics first filed a lawsuit against the company in early 2019,
followed by additional suits in 2020.

In December 2020, the U.S. District Court for the District of
Delaware and the U.S. District Court for the District of
Massachusetts granted two judgments in favor of Endobotics lawsuits
alleging patent infringement and Defend Trade Secrets Act,
Massachusetts trade secret law, breach of contract, unfair
competition and state law tort claims.

The courts ruled that Medrobotics owed nearly $192 million in an
award to Endobotics.

Creditors filed an involuntary bankruptcy petition against
Medrobotics on Jan. 24, 2022. Shortly after, the court appointed a
Chapter 7 trustee. By August 2023, that trustee filed a complaint
against company leadership.

According to Law360, in March 2022, Pennsylvania physicians who
invested in the company said Medrobotics executives hid and
mishandled the Endobotics lawsuits that "effectively sank the
company." Those shareholders filed a derivative suit in
Pennsylvania state court.

Details of the Endobotics suit that effectively brought Medrobotics
down
In Endobotics' suit, the company alleged that its
predecessor-in-interest, Cambridge Endoscopic Devices, developed
and manufactured minimally invasive surgical tools. Endobotics said
it acquired the patents-in-suit and Cambridge's know-how and trade
secrets when Cambridge went bankrupt.

Medrobotics, meanwhile, manufactured its single-port surgery
solution with a highly articulated multi-linked scope. Endobotics
said this incorporated feature was claimed in a number of its
patents.

The lawsuit alleges that from at least early 2017, Medrobotics knew
about Endobotics' patents. Endobotics said it sent letters and
claim charts informing the company of the features claimed in its
own patents.

According to Endobotics, Medrobotics designed and manufactured its
product with Design Standards Corp. of Charlestown, New Hampshire.
This same company designed and manufactured Cambridge's tools,
which eventually went to Endobotics.

The lawsuit said Medrobotics' surgical tool "looks substantially
similar to Cambridge's surgical instrument" previously on the
market. Design Standards Corp. had access to the know-how and trade
secrets of Cambridge owned by Endobotics, the company said. Given
the similarities, Endobotics said its know-how and trade secrets
were misappropriated. The company claimed Medrobotics refused to
negotiate in good faith to avoid the lawsuit.

Additionally, Endobotics said the company refused to discuss a
license to cure the infringement.

                 A look at the company's bankruptcy fallout

Around 20 months into Medrobotics' Chapter 7 bankruptcy case,
trustee David Madoff filed a complaint on behalf of the estate of
Medrobotics against CEO Samuel Straface and other company
officials. The complaint alleged breach of fiduciary duty and
negligence in connection with certain acts and omissions as
directors and officers of the company.

Madoff contended that Medrobotics reached a point where officials
"knew or should have known" the company lacked the capital and
operating income to continue producing a functional product.
However, the suit says the leaders "continued to promote
Medrobotics as a healthy and growing entity in an effort to secure
investment, employee labor and vendor support." At this point, the
company grew to around 200 total employees.

Following the Endobotics suits, Madoff alleged that officials
failed to inform shareholders, investors, employees, vendors and
customers of the lawsuits or warn of the legal and financial risks
posed to the company. Instead, Madoff said they continued to
present an "optimistic" picture of the firm's financial condition.
He said this indicated positive cash flow, significant investment
interest and solid sales projections.

However, the claim says the company's actual financial condition
was dire. Madoff even said Medrobotics didn't have the funds to pay
its attorneys to defend the Endobotics suit.

According to Madoff, in spite of the knowledge of legal reversals
and the company's financial condition, its leadership continued to
operate. In doing so, he said the company incurred "staggering"
amounts of debt to investors, employees and vendors.

Madoff’s claim said this conduct constitutes "egregious
mismanagement of a business corporation." He also alleged a
dereliction of all duties of care, judgment, prudence and
circumspection on the leadership team's part. Because of the
leaders' failure to disclose information about these ongoing
issues, interested parties were prevented from taking action to
avert the effects of the company's downfall.

"The defendants' mismanagement and fiduciary breach have
proximately caused Medrobotics to be destroyed as a going concern,
and rendered the company worthless and unable to pay over $135
million in asserted creditor claims including $126,453,828.11 in
unsecured claims," Madoff's claim said.

This month, Madoff reached a $2 million settlement over his claim.
The settlement was not an admission of liability. A federal
bankruptcy judge scheduled a hearing on June 11 to consider
approving the settlement.

                   More on the asset sale

The sale includes 22 terabytes worth of technical specs, customer
lists and other valuable IP, plus $12 million in hard assets, Tiger
Commercial & Industrial Senior Director John Coelho said in the
news release. That includes 23 complete Flex and next-gen Flex360
robotics systems.

"This turnkey sale represents an extraordinary growth opportunity
for buyers that could include medical device-makers, robotics
companies or venture capital firms," Coelho said.

In addition to the robotics systems, the plant has general-utility
medical, lab, assembly/manufacturing, plant support and
material-handling assets. Coelho says that includes
state-of-the-art 3D printers and a full machine shop. It also
includes microscopes, incubators, lab ovens, test and measurement
equipment and pallet jacks and racking.

"These systems, which are FDA-approved, were the first surgical
platform to offer a steerable and shapeable robotic scope, which
allows surgeons to operate on parts of the body that, in many
cases, would otherwise have been unreachable," said Nick Jimenez,
VP of global business development at Liquidity Services. "The
equipment and IP available in this turnkey opportunity could
greatly benefit an expanding medical robotics enterprise."

                 About Medrobotics Corp.

Medrobotics Corp. operates as a surgical products company. The
Company develops a robot-assisted platform that provides surgeons
with single-site access and visualization of hard-to-reach
anatomical locations. Medrobotics serves hospitals in the United
States and the United Kingdom.

Medrobotics Corp. sought relief under Chapter 7 of the U.S.
Bankruptcy Code (Bankr. D. Mass. Case No. 22-10077) on January 24,
2024.

Honorable Bankruptcy Judge Christopher J. Panos oversees the case.


MEZCLA ONE: Unsecureds Will be Paid in Full in Plan
---------------------------------------------------
Mezcla One, LLC, submitted an Amended Plan of Reorganization, dated
May 8, 2024.

Definition:

   Trust Funds means the balance of the funds held in Trust by
Herron Hill Law Group, PLLC from the sale of the Debtor's property
to NYA Capital, Inc. pursuant to the Order Granting Motion to Sell
Real Property Free and Clear of Liens and Interests. As of May 8,
2024, the balance of the Trust Funds is $974,708.

Below are the unsecured claims with corresponding treatment:

   Class 2 – General Unsecured Claims excluding claims held by
Affiliates. The Debtor will pay the holders of Allowed Unsecured
Claims, excluding claims held by Affiliates, in full. Class 2 is
unimpaired.

   Class 3 – General Unsecured Claims excluding claims held by
Affiliates. Affiliates who hold allowed unsecured claims will be
paid in full over time based on the following schedule:

      1. On the Effective Date the holders of Allowed Affiliate
Claims will receive a pro rata distribution of the Trust Funds,
less any amounts (a) owed for Administrative Claims, (b) paid to
Holders of Allowed Class 2 Claims, or (c) held in Trust for payment
of Class 2 Claims pending a determination of the Allowance of such
claims; and

      2. When the Debtor receives a payment under the Sale Note,
the Debtor will make a pro rata distribution of the amounts
received to the holders of Allowed Affiliate Claims until the
Allowed Affiliate Claims are paid in full.

   Class 3 is impaired.

Debtor is filing a motion requesting the Court to approve the sale
of the Property to NYA Capital, Inc. pursuant to a Purchase
Agreement dated Oct. 23, 2023 for $8,450,000. Debtor will hold
sufficient funds from the sale in Debtor's attorney's trust account
to pay the Class 1 and Class 2 claims, pending a determination of
whether the claims are Allowed Claims.

The sale of the property closed on April 10, 2024. After the
closing of the sale, payment of the Wang Claim and the claim of
Shou Li, Debtor is holding the Sale Note with a principal balance
of $6,700,000 and the Trust Funds with a balance of $974,708.

Attorneys for the Debtor:

     Kenneth D. (Chip) Herron, Jr. Esq.
     HERRON HILL LAW GROUP, PLLC
     P.O. Box 2127
     Orlando, FL 32802
     Tel: (407) 648-0058
     E-mail: chip@herronhilllaw.com
             elizabeth@herronhilllaw.com

A copy of the Plan of Reorganization dated May 8, 2024, is
available at https://tinyurl.ph/TBcPX from PacerMonitor.com.

                         About Mezcla One

Mezcla One, LLC is a landowner/developer formed in 2016.

The Debtor filed a Chapter 11 petition (Bankr. M.D. Fla. Case No.
23-03015) on July 27, 2023, listing up to $10 million in both
assets and liabilities.  Judge Grace E. Robson oversees the case.

Kenneth D. Herron, Jr., Esq., at Herron Hill Law Group, PLLC serves
as the Debtor's counsel.


MILLERS WHOLESALE: Case Summary & Seven Unsecured Creditors
-----------------------------------------------------------
Debtor: Millers Wholesale Inc.
        2450 W. Columbia Ave.
        Battle Creek, MI 49015

Business Description: The Debtor is a building equipment
                      contractor.

Chapter 11 Petition Date: May 25, 2024

Court: United States Bankruptcy Court
       Western District of Michigan

Case No.: 24-01405

Debtor's Counsel: James R. Oppenhuizen, Esq.
                  OPPENHUIZEN LAW FIRM, PLC
                  PO Box 7165
                  Grand Rapids, MI 49510
                  Tel: 616-730-1861
                  Fax: 616-930-4201
                  Email: joppenhuizen@oppenhuizenlaw.com

Total Assets: $748,850

Total Liabilities: $1,134,485

The petition was signed by Joshua L. Thompson as CEO.

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

https://www.pacermonitor.com/view/LM5Q2YQ/Millers_Wholesale_Inc__miwbke-24-01405__0001.0.pdf?mcid=tGE4TAMA


MILWAUKEE INSTRUMENTS: Case Summary & 20 Top Unsecured Creditors
----------------------------------------------------------------
Debtor: Milwaukee Instruments, Inc.
        2950 Business Park Drive
        Rocky Mount, NC 27804-2818

Business Description: Milwaukee Instruments is a manufacturer of
                      electrochemical instrumentation for water
                      analysis to measure pH, Turbidity,
                      Conductivity, Salinity, Total Acidity,
                      Temperature, Sulphur Dioxide, Chlorine,
                      Ammonia, Chloride, Phosphate, Iron, etc.
                      The Company has been dedicated to helping
                      hydroponics and greenhouse growers,
                      winemakers, brewers, pool service
                      technicians, educators and others.  Its
                      instruments are manufactured in Europe.

Chapter 11 Petition Date: May 25, 2024

Court: United States Bankruptcy Court
       Eastern District of North Carolina

Case No.: 24-01757

Debtor's Counsel:     John A. Northen, Esq.
                      NORTHEN BLUE LLP
                      1414 Raleigh Rd
                      Ste 435
                      Chapel Hill, NC 27511-8834
                      Tel: (919) 948-6823
                      Fax: (919) 942-6603
                      Email: jan@nbfirm.com

Debtor's
Financial
Advisor:              PKF CLEAR THINKING LLC

Total Assets: $990,527

Total Liabilities: $38,511,176

The petition was signed by Carl Silvaggio as president.

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

https://www.pacermonitor.com/view/ECBGBPQ/Milwaukee_Instruments_Inc__ncebke-24-01757__0001.0.pdf?mcid=tGE4TAMA


MIST HOLDINGS: June 18 Combined Hearing Set
-------------------------------------------
Judge John T. Dorsey has entered an order that the Disclosure
Statement of Mist Holdings, Inc., et al. are approved on an
interim, conditional basis as containing adequate information
within the meaning of Section 1125 of the Bankruptcy Code.

The Combined Hearing will be held before this Court on June 18,
2024 at 1:00 p.m. (prevailing Eastern Time) to consider the
adequacy of the Disclosures and confirmation of the Plan at the
United States Bankruptcy Court for the District of Delaware, before
the Honorable Judge John T. Dorsey in the United States Bankruptcy
Court for the District of Delaware, 824 North Market Street, 5th
Floor, Courtroom #5, Wilmington, DE 19801.

The Debtors will file the Plan Supplement with this Court not later
than May 31, 2024.

Ballots and Third Party Release Opt-Out Forms must be received on
or before June 7, 2024 at 5:00 p.m. (prevailing Eastern Time) (the
"Voting Deadline").

If any claimant or other party seeks to have a claim temporarily
allowed for purposes of voting to accept or reject the Amended
Combined Plan and Disclosure Statement pursuant to Bankruptcy Rule
3018(a), such party is required to file a motion (a "3018 Motion")
for such relief no later than May 22, 2024 at 5:00 p.m. (prevailing
Eastern Time). The deadline for any party in interest to object to
any 3018 Motion is May 29, 2024. The deadline for any reply to any
such objection to a 3018 Motion is June 5, 2024 at 5:00 p.m.
(prevailing Eastern Time).

Objections, if any, to final approval of the Disclosures or
confirmation of the Plan, including any supporting memoranda will
be filed and served  on or before June 7, 2024 at 5:00 p.m.
(prevailing Eastern Time),

Any party supporting the Amended Combined Plan and Disclosure
Statement may file a statement in support or a reply to any
objection to confirmation of the Amended Combined Plan and
Disclosure Statement by June 13, 2024.

The Amended Combined Plan and Disclosure Statement voting
certification will be filed by June 13, 2024.

A copy of the Order dated May 8, 2024, is available at
https://tinyurl.ph/PhZLP from document.epiq11.com, the claims
agent.


MONOGRAM FOOD: S&P Upgrades ICR to 'B' on Performance Improvement
-----------------------------------------------------------------
S&P Global Ratings raised its rating on U.S.-based Monogram Food
Solutions LLC to 'B' from 'B-'.

Concurrently, S&P raised its issue-level rating on the company's
senior secured facilities to 'B' from 'B-'. The recovery rating
remains '3', reflecting its expectation for meaningful (50%-70%;
rounded estimate: 55%) recovery in the event of a payment default.

The stable outlook reflects S&P's expectation that the company will
maintain leverage below 7x and continue to generate positive free
operating cash flow (FOCF) in 2024 and over $20 million in 2025 and
beyond.

The upgrade reflects S&P's expectation the company will sustain
leverage below 7x despite the weak volume trends in branded food.
Monogram significantly improved operating performance in 2023,
despite lower demand in its branded co-manufacturing business. The
company reported revenue growth of 1.8% and S&P Global
Ratings-adjusted leverage of 5.8x for the 12 months ended March 30,
2024 (compared with 8.4x for the same period the previous year).
Monogram gained new business with certain existing customers and
experienced demand growth in its private label business, which more
than offset volume declines in its branded co-manufacturing and
food service businesses. The company's profitability improved
meaningfully due to a favorable mix of higher-margin private label
business, ingredient and other input costs that leveled off,
improved operating efficiencies, and lower third-party purchases
due to increased in-house production. Over the trailing 12 months
ended March 30, 2024, the company's S&P Global Ratings-adjusted
EBITDA margin expanded about 270 basis points (bps) to 8.6% and its
S&P Global Ratings-adjusted EBITDA improved nearly 50% to $117
million, compared with the same period the previous year.

Net sales were down 0.2% during the first quarter ended March 30,
2024. Demand remains weak with the company's foodservice and
branded customers. S&P said, "We believe this demand will remain
soft during the rest of 2024 because we expect continued cautious
consumer spending. Persistent inflation, slowing real income
growth, and declining household savings suggest cautious consumer
spending over the near term. Nonetheless, we expect new business
and continued strength in private label business to drive modest
revenue growth of at least 1% in fiscal 2024, offsetting ongoing
weakness in food service and branded channels. The company should
also continue to benefit from lower input cost inflation and
greater operating efficiency. As a result, we expect Monogram will
modestly deleverage further to about 5.6x in fiscal 2024."

S&P said, "We believe Monogram's FOCF will continue to improve,
driven by greater operating efficiency and the completion of
capacity expansion projects.The company reported FOCF of about $4
million for fiscal 2023, compared with an FOCF use of about $68
million in 2022. Monogram's working capital improved to about $13
million in 2023, from a $57 million use during 2022, largely due to
lower inventory costs and improved supply chains. Capital
expenditure (capex) increased to $50 million in 2023 from $43
million the previous year, due to the company's investments in
productivity and automation and ongoing incremental capacity
projects to serve new and existing customers. Monogram started a
multiyear capacity expansion cycle in 2022 that will be completed
during fiscal 2024. We believe Monogram's FOCF will remain modest
in 2024 due to ongoing capacity expansion and operating efficiency
investments, but we expect it will improve to over $20 million in
2025 driven by greater automation and operating efficiency.

"The stable outlook reflects our expectation that the company will
maintain leverage below 7x and continue to generate positive FOCF
in 2024 and over $20 million in 2025 and beyond."

S&P could lower its ratings on Monogram if adjusted leverage
increased above 7x or the company did not sustain positive FOCF,
which could occur if the company:

-- Lost customers due to lower demand, quality issues,
competition, or in-house manufacturing;

-- Failed to fill new capacity due to lower-than-expected demand;

--Experienced operational deleveraging due to lower volumes,
increased manufacturing complexity, higher labor costs, or input
shortages;

-- Required significant incremental capital investments to sustain
growth; and

-- Adopted more aggressive financial policies, including
debt-financed acquisitions or shareholder dividends.

S&P said, "While unlikely over the next 12 months, we could raise
the ratings on Monogram if the company committed to and
demonstrated more conservative financial policies that led us to
believe S&P Global Ratings-adjusted debt to EBITDA would be
sustained below 5x."

This could occur if the company:

-- Sustained organic revenue growth,

-- Increased profitability due to higher-margin business and
greater operating efficiencies, and

-- Developed a track record of not pursuing debt-financed
acquisitions or shareholder distributions.

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



NANOSTRING TECHNOLOGIES: Gets Court OK to Seek Updated Plan Vote
----------------------------------------------------------------
Seattle-based life sciences firm NanoString Technologies Inc. has
asked a Delaware bankruptcy judge to let it send its amended
Chapter 11 liquidation and wind down plan to creditors for voting.

The Court on May 22, 2024, entered an order approving the
Disclosure Statement and setting a hearing to consider confirmation
of the Plan.  The Plan confirmation hearing is scheduled for June
18, 2024, at 2:00 p.m. at US Bankruptcy Court, 824 Market St., 3rd
Fl., Courtroom #7, Wilmington, Delaware.

                  About NanoString Technologies

NanoString Technologies, Inc., offers an ecosystem of innovative
discovery and translational research solutions and empowers its
customers to map the universe of biology.

NanoString and affiliates sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D. Del. Lead Case No. 24-10160) on Feb. 4,
2024. In the petition signed by R. Bradley Gray, president and
chief executive officer, NanoString disclosed $100 million to $500
million in both assets and liabilities.

The Debtors tapped Willkie Farr & Gallagher, LLP and Young Conaway
Stargatt & Taylor, LLP as legal counsels; AlixPartners, LLP as
financial advisor; Weil, Gotshal & Manges LLP as special patent
counsel; and Perella Weinberg Partners LP as investment banker.
Kroll Restructuring Administration LLC is the Debtors'
administrative advisor.

Gibson Dunn & Crutcher, LLP, and Sullivan & Cromwell, LLP, serve as
counsels to certain DIP lenders. Richards, Layton & Finger and
Houlihan Lokey Capital, Inc., act as Delaware bankruptcy counsel
and financial advisor to the DIP lenders.  Meanwhile, Alston & Bird
and Potter Anderson serve as bankruptcy counsel and Delaware
counsel, respectively, to the DIP agent.


NATIONWIDE MEDICAL: Aleida Molina Named Subchapter V Trustee
------------------------------------------------------------
The U.S. Trustee for Region 21 appointed Aleida Martinez Molina,
Esq., as Subchapter V trustee for Nationwide Medical Transportation
Services, Inc.

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

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

The Subchapter V trustee can be reached at:

     Aleida Martinez Molina, Esq.
     2121 NW 2nd Avenue, Suite 201
     Miami, FL 33127
     Telephone: (305) 297-1878
     Email: Martinez@subv-trustee.com

              About Nationwide Medical Transportation

Nationwide Medical Transportation Services, Inc., doing business as
Tri County Medical Transportation, is a family owned and operated
medical transportation company offering ambulatory and wheelchair
services specializing in workers compensation and surgical and
diagnostic clients.

The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. S.D. Fla. Case No. 24-14386) on May 2,
2024, with $100,000 to $500,000 in assets and $1 million to $10
million in liabilities. Debra L. Schulman, president, signed the
petition.

Judge Mindy A. Mora presides over the case.

Jonathan T Crane, Esq., at Furr & Cohen, represents the Debtor as
legal counsel.


NORTH GEORGIA NURSING: 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
North Georgia Nursing Academy, 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

                About North Georgia Nursing Academy

North Georgia Nursing Academy, LLC is a nursing school that
provides students with the knowledge and technical training
required for a career in the medical field.

The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. N.D. Ga. Case No. 24-20527) on May 6, 2024.
In the petition signed by April Kidd, director and sole member, the
Debtor disclosed $4,853,000 in assets and $2,646,720 in
liabilities.

Judge James R. Sacca oversees the case.

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


NUMBER HOLDINGS: Court OKs Sale of Designation Rights to 58 Leases
------------------------------------------------------------------
99 Cents Only Stores, LLC, an affiliate of Number Holdings Inc.,
received approval from the U.S. Bankruptcy Court for the District
of Delaware to enter into a sale agreement with Dollar Tree Stores,
Inc.

The agreement provides for the sale of designation rights with
respect to each of the 58 unexpired leases of non-residential real
property.

The designation rights are the rights of Dollar Tree to elect by no
later than May 31 to take an assignment (or to designate an
affiliate to take an assignment) of one or more leases. The
designation rights are in the buyer's sole and absolute discretion.


In exchange for the designation rights, Dollar Tree will pay the
company $2.5 million in cash; provide payment equal to the May rent
and certain other costs for the leases; and pay the cure costs for
the leases they elect to have assumed and assigned.

The purchase price is being paid in cash. No portion of the
purchase price consists of a credit bid of any debt.

"The consideration provided by the buyer confers substantial value
to the debtors' estates that would not otherwise be available,"
Jonathan Weyand, Esq., attorney for 99 Cents, said.

"The debtors marketed the designation leases extensively and did
not receive any other actionable proposals that would have provided
material value to the estates," the attorney said in court papers.

                      About Number Holdings

Founded in 1982, 99 Cents Only Stores LLC -- http://www.99only.com/
-- operate over 370 "extreme value" retail stores in California,
Arizona, Nevada and Texas under the business names "99¢ Only
Stores" and "The 99 Store."  The Company offers its customers a
wide array of quality products from everyday household items to
fresh produce, deli, and other grocery items, to an assortment of
seasonal and party merchandise, many of which are still priced at
or below 99.99 cents.  The Company's stores are primarily located
in urban areas and underserved communities, many of which lack
close access to traditional grocery stores.

The Debtors sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Del. Lead Case No. 24-10719) on April 7,
2024. In the petition signed by Christopher J. Wells, as chief
restructuring officer, the Debtor disclosed up to $10 billion in
both assets and liabilities.

Judge Kate Stickles oversees the case.

The Debtors tapped Milbank LLP as general bankruptcy counsel,
Morris, Nichols, Arsht & Tunnel LLP as Delaware bankruptcy counsel,
Jefferies LLC as investment banker, Alvarez & Marsal North America,
LLC as financial advisor, Hilco Merchant Resources, LLC and Hilco
Real Estate, LLC as retail consultant and real estate consultant,
and Kroll Restructuring Administration LLC as claims and noticing
agent.


OBRA CAPITAL: S&P Downgrades ICR to 'CCC-' on Weakening Liquidity
-----------------------------------------------------------------
S&P Global Ratings lowered its issuer credit rating on Obra Capital
Inc. to 'CCC-' from 'CCC' and its rating on the company's secured
term loan to 'CC' from 'CCC-'. The recovery rating on the term loan
is '5', indicating its expectation of modest (10%-30%; rounded
estimate: 25%) recovery in the event of default.

The negative outlook reflects S&P's view that over the next six
months, the company's liquidity will be under stress, such that
sources are unlikely to meet uses absent any unforeseen positive
developments.

As of Dec. 31, 2023, the company's cash balance declined to $4.9
million and the company had also fully drawn on its revolver, which
has $30 million of total capacity.

Obra added $35 million of second-lien debt in April 2024 and has
obtained a temporary waiver on the financial covenants of its
revolver for all the quarters in 2024. While the additional funding
and covenant waiver have reduced the immediate default risk, S&P's
think that without additional liquidity sources, Obra's existing
liquidity sources are unlikely to meet uses – including the
maturity of its second-lien debt - over the next six months.

The company's other ongoing liquidity uses in the next six months
include around $6 million of mandatory quarterly amortization of
its term loan B and an approximate $2 million monthly interest
payment on its debt. The company's next amortization and interest
payment, an aggregate of around $8 million, is due on June 30,
2024. Additionally, the company's revolver will mature in October
2024.

The company's required annual amortization of its term loan is
about $24 million, which is sizable relative to its modest earnings
and will likely hurt its liquidity when the origination fees are
low.

The company generated around $15 million in operating cash flow
(before cash interest payment) in full-year 2023, $14 million of
which was realized in the fourth quarter due to the volatile and
lumpy origination fees. Based on our calculation (different from
lender-adjusted EBITDA in the credit agreements), the company had
$2.5 million of adjusted EBITDA in 2023, compared with $12.4
million in 2022.



PACKAGING COORDINATORS: Moody's Rates New $1.9BB 1st Lien Loan 'B3'
-------------------------------------------------------------------
Moody's Ratings assigned a B3 rating to the proposed $1.947 billion
backed senior secured first lien term loan of Packaging
Coordinators Midco, Inc. ("PCI"). There are no changes to PCI's
existing ratings including the B3 Corporate Family Rating, B3-PD
Probability of Default Rating, and B3 rating on the backed senior
secured first lien revolving credit facility. The outlook remains
unchanged at positive.

Proceeds from the new $1.947 billion term loan will be used to
repay the company's existing first lien term loan. With the new
term loan, PCI will be raising an incremental $60 million that will
be cash added to the balance sheet to be used for general corporate
purposes.

RATINGS RATIONALE

PCI's B3 CFR reflects its elevated Moody's adjusted financial
leverage of about 6.9x as of March 31, 2024. Moody's forecasts for
PCI's credit metrics to improve, supported by mid double-digit
earnings growth, and financial leverage declining below 6 times
over the next 12-18 months. The rating also reflects PCI's risk of
revenue losses due to selective in-sourcing by customers and
incorporates event and financial policy risk due to the company's
acquisitive nature and associated integration risks.

PCI's rating benefits from its leading position among contract
packaging services companies, and a relatively well diversified
customer base consisting largely of blue-chip pharmaceutical
clients. Moody's expects the company's growth will continue to be
supported by favorable industry tailwinds, as the pharmaceutical
industry will continue to increase its reliance on outsourced
service providers.

PCI's ESG credit impact score (CIS-4) indicates that the rating is
lower than it would have been if ESG risk exposures did not exist.
The CIS-4 reflects social risk (S-4) associated with government
regulations surrounding the operation of the company's specialized
facilities and equipment, and exposure to governance risks (G-4),
most notably with aggressive financial policies under private
equity ownership.

The positive outlook incorporates Moody's expectation of continuous
improvements of PCI's credit metrics in the next 12-18 months.
Moody's forecasts mid double-digit earnings growth, and financial
leverage declining below 6 times, over the next 12-18 months.

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

Ratings could be downgraded if the company were to experience
operating disruptions or loss of a major contract or if financial
policies became more aggressive. A downgrade could also occur if
the company's liquidity profile were to erode, such that free cash
flow were to turn negative on a sustained basis, or interest
coverage falls below one times.

Ratings could be upgraded if the company can profitably grow in
scale and maintain good product and customer diversity.
Additionally, the company will need to maintain good liquidity,
reflected in consistently positive free cash flow, and debt/EBITDA
will need to be sustained below 6 times, for ratings to be
upgraded.

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

Packaging Coordinators Midco, Inc. ("PCI") is a global provider of
outsourced pharmaceutical services that include commercial and
clinical packaging, clinical storage and distribution services,
Sterile Fill Finish and Lyophilization services, high potency drug
manufacturing, and selected drug development and analytical
services. Packaging Coordinators Midco, Inc. generated revenues of
approximately $1.3 billion for the LTM period ending March 31,
2024. Packaging Coordinators Midco, Inc.'s parent firm and issuer
of the audited financial statements, Pioneer UK Midco 1 Limited
(guarantor of the rated debt) is majority owned by private equity
firm Kohlberg & Company, along with minority stakes by equity
sponsor Partners Group, and Mubadala, and the management team.


PANDORA MARKETING: Chip Hoebeke Named Chapter 11 Trustee
--------------------------------------------------------
Patrick Layng, the U.S. Trustee for Region 19, appointed Chip
Hoebeke as Chapter 11 trustee for Pandora Marketing LLC.

The appointment was made pursuant to the order from the U.S.
Bankruptcy Court for the District of Wyoming on May 1.

The Chapter 11 trustee can be reached at:

     Chip Hoebeke
     Department Head, Rehmann Consulting Services
     Director Turnaround, Restructuring, and Insolvency Practice
     2330 East Paris Ave SE
     Grand Rapids, MI 49516
     Phone: 616.975.2830
     Mobile: 616.308.2821
     Email: chip.hoebeke@rehmann.com

                      About Pandora Marketing

Pandora Marketing, LLC is a marketing agency in Aliso Viejo,
Calif.

The Debtor filed a petition under Chapter 11, Subchapter V of the
Bankruptcy Code (Bankr. D. Wyo. Case No. 24-20022) on Jan. 31,
2024, with $7,341,452 in assets and $7,977,506 in liabilities.
William Wilson, chairman of the board of directors, signed the
petition.

Judge Cathleen D. Parker oversees the case.

Seth Shumaker, Esq., at Seth Shumaker, Attorney at Law, is the
Debtor's bankruptcy counsel.


PARTNERS IN HOPE: PCO Reports No Resident Care Complaints
---------------------------------------------------------
Dale Watson, the patient care ombudsman, filed with the U.S.
Bankruptcy Court for the District of South Carolina an initial
report regarding the quality of patient care provided by Partners
In Hope, Inc.

During his visit, the ombudsman spoke to eight residents and staff.
The ombudsmen found no issues with supplies, food, and laundry
services. The residents voiced no specific complaints during the
visit other than staff who are no longer at the facility.

The ombudsman observed that staff is fully covered currently, while
maintaining facility contracts for food purchase and delivery,
pharmacy services and delivery, and laundry services.

The ombudsman met with Resident Council members on April 25. The
residents had questions about the two CNAs who quit earlier in the
month. Since the inquiries were related to employment, the
ombudsman declined to comment.

A copy of the ombudsman report is available for free at
https://urlcurt.com/u?l=aTDeGg from PacerMonitor.com.

                      About Partners In Hope

Partners In Hope, Inc. owns an assisted living facility located at
Loris Oaks, 260 Watson Heritage Rd, Loris SC 29569 valued at $12
million.

The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Codee (Bankr. D. S.C. Case No. 24-00935) on March 13,
2024. In the petition signed by Terry Mclean, treasurer, the Debtor
disclosed $24,501,256 in assets and $16,893,875 in liabilities.

Judge Elisabetta G.M. Gasparini oversees the case.

Jane H. Downey, Esq., at Baker Donelson, represents the Debtor as
legal counsel.


PARTNERS IN HOPE: U.S. Trustee Unable to Appoint Committee
----------------------------------------------------------
The U.S. Trustee for Region 4 disclosed in a court filing that no
official committee of unsecured creditors has been appointed in the
Chapter 11 case of Partners In Hope, Inc.

                      About Partners In Hope

Partners In Hope, Inc. owns an assisted living facility located at
Loris Oaks, 260 Watson Heritage Rd, Loris SC 29569 valued at $12
million.

The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Codee (Bankr. D. S.C. Case No. 24-00935) on March 13,
2024. In the petition signed by Terry Mclean, treasurer, the Debtor
disclosed $24,501,256 in assets and $16,893,875 in liabilities.

Judge Elisabetta G.M. Gasparini oversees the case.

Jane H. Downey, Esq., at Baker Donelson, represents the Debtor as
legal counsel.


PATRIOT CONTAINER: Moody's Cuts CFR to Caa1 & 1st Lien Debt to B3
-----------------------------------------------------------------
Moody's Ratings downgraded Patriot Container Corp.'s (dba
Wastequip) corporate family rating to Caa1 from B3 and probability
of default rating to Caa1-PD from B3-PD. Concurrently, Moody's
downgraded the company's senior secured first lien revolving credit
facility and first lien term loan facilities to B3 from B2 and the
company's senior secured second lien term loan to Caa3 from Caa2.
The outlook is stable.

The ratings downgrades reflect Wastequip's weak liquidity and
elevated refinancing risk as the company's first lien revolving
credit facility will expire September 2024 and the first lien term
loan will mature March 2025. Liquidity is further constrained by
limited availability under the revolver and negative free cash flow
generation. Revenue growth will continue to be muted on softer
order volumes.

RATINGS RATIONALE

The B3 CFR reflects Wastequip's weak liquidity. The company will
continue to generate negative free cash flow including the sale of
receivables, maintain a minimal cash balance and a mostly drawn
revolver. The approaching first lien maturities further exacerbate
the weak liquidity. Moody's adjusted debt/EBITDA is expected to
remain above 9.0 times over the next several quarters. Following a
solid rebound from the pandemic, revenues declined by roughly 6% in
2023 and Moody's expects at best tepid growth in 2024. Wastequip
generates about 20% of its revenue from its top two customers,
leaving the company susceptible to changes in customer spending
patterns.

The ratings are supported by Wastequip's market leading position
and solid operating margins. The company's national footprint
provides a significant competitive advantage in a fragmented
market. The waste handling industry is characterized by smaller
regional players. Revenue has doubled since Wastequip's leveraged
buyout in 2018 with a combination of organic growth and
acquisitions. EBITA margin is solid and will continue to improve as
the company effectively manages its expense base, sector-wide
shipping and commodity prices normalize and supply chain challenges
abate.

The stable outlook reflects Moody's view that the company will
manage to modestly grow its EBITDA despite the rating agency's
expectation for lower revenue in 2024. The stable outlook also
reflects Moody's expectation that Wastequip will be able to
refinance its capital structure in the coming months.

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

Wastequip's ratings could be upgraded if the company improves its
liquidity and sustains at least breakeven free cash flow
generation. Ratings could also be upgraded if debt/EBITDA declines
to below 7.0 times and EBITA/interest expense is sustained above
1.0 times. Ratings could be downgraded if there is a higher
probability for a distressed exchange, liquidity continues to
deteriorate or if the company is unable to grow its earnings.

The principal methodology used in these ratings was Manufacturing
published in September 2021.

Headquartered in Charlotte, North Carolina, Wastequip is a leading
manufacturer of waste handling and recycling equipment used to
collect, process, and transport solid and liquid waste in North
America. The company is majority-owned by private equity firm
H.I.G. Capital. Wastequip generated sales of $936 million in 2023.


PCS & ESTIMATE: Asks Court to Approve Bid Rules for Sale of Assets
------------------------------------------------------------------
PCS & Estimate, LLC asked the U.S. Bankruptcy Court for the
Northern District of Ohio to solicit bids in connection with the
sale of its assets.

The company is selling substantially all of its assets to
Construction Consulting & Estimate, LLC pursuant to their sale
agreement signed last month or to another buyer with a better
offer.

Construction Consulting offered to acquire the assets for a
purchase price in an amount equal to 95% of the value of PCS'
accounts receivable as of the date of the sale closing, and a fixed
sum of $100,000.

Under the deal, Construction Consulting agreed to serve as the
stalking horse bidder. In case it is not selected as the winning
bidder, Construction Consulting will receive an expense
reimbursement of $25,000.

Richard Stovall, Esq., attorney for PCS, said that despite an offer
from Construction Consulting, the company will put the assets up
for bidding to maximize their value.

Under the proposed bid procedures, the deadline for interested
buyers to place their bids on the assets is on June 14, at 5:00
p.m. (Eastern Time). Bids must be accompanied by a deposit equal to
10% of the bid amount.

An auction will be conducted on June 18 if the company receives
offers by the bid deadline while a hearing to approve the winning
bid will be held on June 21.

The sale must be completed by June 26. At the closing, PCS will
assume and assign certain contracts to the winning bidder.

"The adoption of the bid procedures will properly subject the
assets to competitive bidding while preserving the bid of the
stalking horse bidder, thereby providing a floor price for the
assets," Mr. Stovall said in a motion filed in court.

                     About PCS & Estimate

PCS & Estimate, LLC is a provider of pre-construction cost
management and construction consulting services.

PCS & Estimate sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. N.D. Ohio Case No. 24-10264) on Jan. 26,
2024, with up to $1 million in both assets and liabilities. Brandon
Lawlor, president and member, signed the petition.

Judge Suzana Krstevski Koch oversees the case.

Richard K. Stovall, Esq., at Allen Stovall Neuman & Ashton, LLP,
represents the Debtor as legal counsel.


PEAR THERAPEUTICS: Court Approves Disclosures and Confirms Plan
---------------------------------------------------------------
Judge Thomas M. Horan has entered an order approving the Disclosure
Statement and confirming the Plan of Pear Therapeutics, Inc., et
al.

Holders of Claims in Class 1, Class 2, and Class 3 (collectively,
the "Deemed Accepting Classes") are not impaired under the Plan and
are, therefore, deemed to have accepted the Plan under Section
1126(f) of the Bankruptcy Code. Holders of Claims in Class 5 and
Holders of Interests in Class 6 (the "Deemed Rejecting Classes")
are impaired by the Plan and are not entitled to receive or retain
any property under the Plan and, therefore, are deemed to have
rejected the Plan pursuant to Bankruptcy Code Section 1126(g).


                    Plan of Liquidation


Pear Therapeutics, INC., et al., submitted a Combined Disclosure
Statement and Chapter 11 Plan of Liquidation.

The Combined Disclosure Statement and Plan constitutes a
liquidating Chapter 11 plan for the Debtors and provides for
Distribution of the Debtors' assets already liquidated or to be
liquidated over time to Holders of Allowed Claims in accordance
with the terms of the Combined Disclosure Statement and Plan and
the priority provisions of the Bankruptcy Code.

On April 7, 2023, the Debtors filed the Bidding Procedures Motion,
which sought to approve bidding procedures, approve stalking horse
bid protections, authorize the Debtors to designate a stalking
horse bidder, schedule an auction, approve assumption and
assignment procedures, schedule a sale hearing, approve the
proposed sale and the assumption and assignment of executory
contracts and unexpired leases.

Pursuant to the Bidding Procedures, on May 18, 2023, the Debtors
commenced the Auction for a sale of the Debtors' Assets by Lot. The
Auction concluded that same day. On May 19, 2023, the Debtors filed
the Notice of Auctions Results for the Sale of the Debtors' Assets
and announced, in accordance with the Bidding Procedures, that the
Debtors, in consultation with the Consultation Parties, determined
the bids submitted by the Purchasers to be the Successful Bids (as
defined in the Bidding Procedures Order).

On May 23, 2023, the Court entered the 4 Sale Orders, which
approved the sale of substantially of the Debtors' Assets pursuant
to the terms of each of the Asset Purchase Agreements by and among
the Debtors and each of the Purchasers.

Under the Plan, Class 4: General Unsecured Claims totaling
$24,790,666 and will recover 21% of their claims. Each holder of an
allowed general unsecured claim will receive in exchange for such
allowed general unsecured claim: (A) such holder's pro rata share
of the Liquidating Trust Interests; or (B) such other treatment
which the Debtors or the Liquidating Trust, as applicable, and the
holder of such allowed general unsecured claim have agreed upon in
writing. Class 4 is impaired.

   "Liquidating Trust" will mean the trust with a term of not more
than 5 years (subject to extensions as provided therein) to be
established under the Combined Disclosure Statement and Plan and
the Liquidating Trust Agreement.

   "Liquidating Trust Interests" will mean the non-transferable
interests in the Liquidating Trust that are issued to the
Beneficiaries pursuant to the Combined Disclosure Statement and
Plan.

The Combined Disclosure Statement and Plan will be implemented by,
among other things, the establishment of the Liquidating Trust, the
transfer to the Liquidating Trust of the Liquidating Trust Assets,
including, without limitation, all Cash and Retained Causes of
Action, and the making of Distributions by the Liquidating Trust in
accordance with the Combined Disclosure Statement and Plan and
Liquidating Trust Agreement.

Attorneys for the Debtors:

     Alison D. Bauer, Esq.
     Jiun-Wen Teoh, Esq.
     FOLEY HOAG LLP
     1301 Avenue of the Americas, 25th Floor
     New York, NY 10019
     Tel: (212) 479-6000
     E-mail: abauer@foleyhoag.com
             jteoh@ foleyhoag.com

          -and-

     Euripides Dalmanieras, Esq.
     Christian A. Garcia, Esq.
     Jasmine N. Brown, Esq.
     FOLEY HOAG LLP
     155 Seaport Boulevard
     Boston, MA 02210
     Tel: (617-)832-1000
     E-mail: edalmani@foleyhoag.com
             cgarcia@foleyhoag.com
             jnbrown@foleyhoag.com
     
          -and-

     Chantelle D. McClamb, Esq.
     Katharina Earle, Esq.
     GIBBONS P.C.
     300 Delaware Avenue, Suite 1015
     Wilmington, DE19801
     Tel: (302) 518-6300
     E-mail: cmcclamb@gibbonslaw.com
             kearle@gibbonslaw.com

          -and-

     Robert K. Malone, Esq.
     Kyle P. McEvilly, Esq.
     GIBBONS P.C.
     One Gateway Center
     Newark, NJ 07102
     Tel: (973) 596-4500
     E-mail: rmalone@gibbonslaw.com
             kmcevilly@gibbonslaw.com

Attorneys for the for the Official Committee Of Unsecured
Creditors:

     Mark T. Power, Esq.
     Joseph Orbach, Esq.
     THOMPSON COBURN HAHN & HESSEN LLP
     488 Madison Avenue
     New York, NY 10022
     Tel: (212) 478-7200
     Fax: (212) 478-7400
     E-mail: mpower@thompsoncoburn.com
             jorbach@thompsoncoburn.com

          -and-

     Bryan J. Hall, Esq.
     CHIPMAN BROWN CICERO & COLE, LLP
     Hercules Plaza
     1313 N. Market Street, Suite 5400
     Wilmington, DE 19801
     Tel: (302) 434-4405
     Fax: (302) 295-0199
     E-mail: Hall@ChipmanBrown.com

A copy of the Order dated May 8, 2024, is available at
https://tinyurl.ph/UPbIS from Stretto, the claims agent.

                    About Pear Therapeutics

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

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

Judge Thomas M. Horan oversees the cases.

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


PERSIMMON HOLLOW: Claims Will be Paid From Plan Sponsor
-------------------------------------------------------
Persimmon Hollow Brewing Company, LLC, filed with the U.S.
Bankruptcy Court for the Middle District of Florida a Disclosure
Statement describing Chapter 11 Plan dated May 9, 2024.

Persimmon is a Deland, Florida, based brewery which presently (i)
operates two active taprooms in Central Florida, and (ii)
distributes craft beers to both on-premise (restaurants or bars)
and off-premise (grocery, liquor and convenience stores) through a
network of Florida based beverage distributors.

The company is owned on a 50/50 basis by Andrew Sistrunk and Robert
Carelli, the company's founders. Robert Carelli is responsible for
marketing and brand promotion. Andy Sistrunk has historically
overseen finances.

This Chapter l1 was initiated in part to stop the daily sweeps of
the Debtor's bank accounts and to provide a means to deal in an
organized fashion with the massive debt which the company
accumulated over the last few years.

The Debtor has proposed the Plan as a means for dealing with its
debt burden and is intended to ensure that all creditors receive as
much or more than they would receive in a liquidation of Debtor's
assets. The Plan contemplates a change in ownership of the Debtor
in exchange for a cash contribution to the Debtor from Commerce
Brewing, LLC (the "Plan Sponsor") and assumption of a limited
subset of secured debts and lease obligations owed by the Debtor.

Class 11 consists of General Unsecured Claims. Class 11 General
Unsecured Creditors shall share pro-rata in any recoveries on
Causes of Actions, including Avoidance Rights, from the PHBC
Litigation Trust established under the Plan. Class 11 is impaired
and entitled to vote to accept or reject this Plan.

There shall be no distribution on account of any Disputed Claim
until such objection or dispute is resolved by Final Order. The
Debtor shall, however, reserve funds to make the proportionate
distribution to such creditors until such time as all claim
objections have been finally determined. All funds reserved on
account of Disallowed Claims shall be distributed pro-rata to the
holders of Allowed Unsecured Claims at the conclusion of the claim
objection process. Debtor may, in its sole discretion, delay making
the initial distribution if they expect resolution of a Disputed
Claim within a reasonable time.

Class 12 consists of Equity Interests in the Debtor. All equity
interests in the Debtor, or rights to acquire equity rights in the
Debtor, shall be deemed canceled, terminated, surrendered and of no
further force or effect as of the Effective Date, and all rights
and privileges attendant thereto extinguished.

The Plan will be implemented and funded from funds accumulated
during the pendency of this Chapter II case and received before the
Effective Date and from a contribution from the Plan Sponsor of
either (i) $355,000 if Seacoast elects to accept the proposed cash
payment in exchange for a release of its lien on the Deland
Equipment, or (ii) $155,000 if Seacoast elects to accept a
surrender of the Deland Equipment in lieu of cash.

Distributions to Valley National Bank, Administrative Claims and
Priority Tax Claims, to the extent not paid from the initial
contribution from the Plan Sponsor, shall be paid by the
Reorganized Debtor from future revenues.

The Plan Sponsor was founded in the fall of 2019 and is managed by
craft beer veterans with collectively over 50 years of experience
in the industry. The Plan Sponsor operates a beverage production
facility out of Largo, Florida, to produce product for third
parties on a contract basis. The Plan Sponsor also incubates
start-up breweries by providing production, financial, operation
and management support in exchange for an equity position.

The Plan Sponsor was not immune to the headwinds facing the
industry but survived. The third-party contracting business
decreased along with demand for craft beer and the closing of
numerous breweries. That, coupled with the fact that Plan Sponsor
does not at this time have its own flagship beer brand, is what led
to the Plan Sponsor's interest in Debtor. Plan Sponsor believes
that it can use its incubation skills to stabilize Debtor and
position it for growth after investing significant management time
and other resources (financial and otherwise) in Debtor, including
plugging Debtor into its network, as Plan Sponsor has the framework
in place to evolve with the industry.

A full-text copy of the Disclosure Statement dated May 9, 2024 is
available at https://urlcurt.com/u?l=fup9gJ from PacerMonitor.com
at no charge.

Attorneys for the Debtor:

     Richard R. Thames, Esq.
     Thames | Markey
     50 North Laura Street, Suite 1600
     Jacksonville, FL 32202
     Telephone: (904) 358-4000
     Email: rrt@thamesmarkey.law

            About Persimmon Hollow Brewing Company

Persimmon Hollow Brewing Company, LLC owns and operates a brewery
and taproom in DeLand, FL.

The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. M.D. Fla. Case No. 23-04742) on Nov. 10,
2023.  In the petition signed by Robert Burnette, president and
chief manager, the Debtor disclosed up to $10 million in both
assets and liabilities.

Judge Grace E. Robson oversees the case.

Richard R. Thames, Esq., at THAMES | MARKEY, represents the Debtor
as legal counsel.


PIZZA PALS: Behrooz Vida Named Subchapter V Trustee
---------------------------------------------------
The U.S. Trustee for Region 6 appointed Behrooz Vida, Esq., at the
Vida Law Firm, PLLC as Subchapter V trustee for Pizza Pals, LP.

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

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

The Subchapter V trustee can be reached at:

     Behrooz P. Vida, Esq.
     The Vida Law Firm, PLLC
     3000 Central Drive
     Bedford, TX 76021
     Telephone: (817) 358-9977
     Facsimile: (817) 358-9988
     Email: behrooz@vidalawfirm.com

                          About Pizza Pals

Pizza Pals, LP owns and operates an Italian chain buffet.

The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. N.D. Tex. Case No. 24-31251) on April 30,
2024. In the petition signed by Pat Williamson, partner, the Debtor
disclosed $41,144 in assets and $2,777,727 in debts.

Judge Scott W. Everett oversees the case.

Robert C. Lane, Esq., at the Lane Law Firm, represents the Debtor
as bankruptcy counsel.


PLUG POWER: Posts $296 Million Quarterly Loss in Q1 of 2024
-----------------------------------------------------------
Rachel Parkes of Hydrogen Insight reports that US pure-play
hydrogen equipment manufacturer Plug Power has posted a quarterly
loss of $296m for the first three months of 2024, amid a massive
crash in quarterly revenue while it awaits the commissioning of
several of its proton exchange membrane (PEM) electrolyser systems,
and for a new pricing regime to take effect.

The Q1 2024 loss is significantly wider than the $207m posted in
the first quarter of the previous year, as well as the $284m in the
third quarter of 2023, and puts the company on a trajectory to
report another more-than $1bn loss for the year.

Plug made a massive $1.4bn loss in 2023, after it was squeezed by
supply chain problems and legacy H2 supply contracts. The problem
became severe enough for it to raise the alarm about its ability to
remain a going concern, an issue that Plug reported as resolved in
September last year.

Revenue for the quarter slumped to $120m, just over half the $210
posted a year ago, with cash made from sales of equipment crashing
to just $68m, down from $182m this time last year.

But Plug put the limp figures down to "new product scaling,"
pointing out that it cannot yet report revenue from electrolyser
systems currently undergoing commissioning.

Most of its revenue for the year will come during the second half
of 2024, it indicated.

"Consistently with past seasonality and continued new product
scaling, Plug expects that one-third of its full year revenue will
be in the first half of 2024," the company said in a statement. "As
of the Q1 2024 earnings date, Plug currently has 20 electrolyser
systems undergoing commissioning at third-party customer sites,
with further deliveries to be made over the balance of 2024."

The company has also instigated a price increase across its entire
portfolio and especially on sales of hydrogen pricing, which was
the main reason for its cash squeeze in 2023.

"We expect to see a positive impact to our margins in coming
quarters as a result of these actions," it said.

In addition, Plug said it is experiencing a rebound in sales in its
materials handling business (eg, hydrogen fuel cell-powered fork
lift trucks) after a price recalibration, as well as an effort to
change the business model to direct sales and customer-financed
leases.

Last month Plug announced that it would deliver more of its PEM
electrolysers in 2024 than it had to date, pushing the capacity of
installed Plug machines to 189MW.

This will equate to the delivery of 40 systems in total over 2024.

                        About Plug Power

Plug Power, Inc., operates as a green hydrogen company. The Company
focuses on building an end-to-end green hydrogen ecosystem, from
production, storage, and delivery to energy generation to help
customers meet business goals and decarbonize the economy, as well
as provides material handling, e-mobility, power generation, and
industrial applications.


PORTERFIELD-SCHEID MANAGEMENT: Rynard Named Subchapter V Trustee
----------------------------------------------------------------
The U.S. Trustee for Regions 3 and 9 appointed Lisa Rynard, Esq.,
at the Law Office of Lisa A. Rynard as Subchapter V trustee for
Porterfield-Scheid Management Company LLC.

Ms. Rynard will be paid an hourly fee of $300 for her services as
Subchapter V trustee and will be reimbursed for work-related
expenses incurred.

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

The Subchapter V trustee can be reached at:

     Lisa A. Rynard, Esq.
     Law Office of Lisa A. Rynard
     240 Broad Street
     Montoursville, PA 17754
     Business Phone: (570) 505-3289
     E-Mail: larynard@larynardlaw.com

            About Porterfield-Scheid Management Company

Porterfield-Scheid Management Company, LLC offers funeral services,
burials, cremation services, memorial services and other related
services to its clients.

Porterfield-Scheid Management Company filed its voluntary petition
for relief under Chapter 11 of the Bankruptcy Code (Bankr. M.D. Pa.
Case No. 24-01127) on May 3, 2024, listing $4,050,000 in assets and
$2,602,589 in liabilities. The petition was signed by Melanie B.
Scheid as member.

Judge Henry W. Van Eck presides over the case.

Lawrence V. Young, Esq., at Cga Law Firm represents the Debtor as
counsel.


PROSOMNUS SLEEP: Gets Court Okay to Tap $13 Mil. Chapter 11 Loan
----------------------------------------------------------------
Rick Archer of Law360 reports that a Delaware bankruptcy judge
Thursday, May 9, 2024, gave sleep apnea device maker ProSomnus
interim permission to tap into $13 million in Chapter 11 financing
to fund the company through what it says will be the end of its
case in August.

              About ProSomnus Sleep Technologies

Prosomnus Sleep Technologies was founded in 2016. The company's
line of business includes the manufacturing of dentures, artificial
teeth, and orthodontic appliances.

ProSomnus Sleep Technologies sought relief under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. D. Del. Case No. 24-10972) on May 7,
2024. In its petition, the Debtor estimated assets between $1
million and $10 million and estimated liabilities between $50
million and $100 million.

The Honorable Bankruptcy Judge John T Dorsey handles the case.

The Debtor is represented by:

     Shanti M. Katona
     Polsinelli PC


RED LOBSTER: Weighs Assets Bid in Potential Chapter 11 Sale
-----------------------------------------------------------
Reshmi Basu of Bloomberg News reports that a group of lenders to
Red Lobster Management LLC is considering bidding for assets
through a potential Chapter 11 sale process and seizing control of
the seafood restaurant chain, according to people familiar with the
matter.

One possibility would be in the form of a credit bid, which allows
lenders to use debt they're owed toward an asset purchase, said the
people, who asked not to be identified discussing a private matter.
Discussions are ongoing and no final decision has been made, they
said.

                About Red Lobster Management

Red Lobster Management, LLC, owns and operates 705 Red Lobster
seafood restaurants throughout North America. Red Lobster generates
about $2.4 billion of annual revenue. Red Lobster is owned by
private equity firm Golden Gate Capital.

Red Lobster Management and its affiliates sought Chapter 11
protection (Bankr. M.D. Fla. Lead Case NO. 24-02486) on May 19,
2024.  As part of these filings, Red Lobster has entered into a
stalking horse purchase agreement pursuant to which Red
Lobster will sell its business to an entity formed and controlled
by its existing term lenders.

King & Spalding LLP is lead counsel to the Debtors; Berger
Singerman LLP serves as local counsel; and Blake, Cassel & Graydon,
LLC represents the Canadian applicants.

Alvarez & Marsal North America, LLC is serving as financial advisor
and providing corporate leadership as Chief Executive and Chief
Restructuring Officers.  Jonathan Tibus, a Managing Director at
Alvarez & Marsal, serves as the debtors' CEO.

Hilco Corporate Finance is serving as M&A advisor to Red Lobster.
Keen-Summit is serving as real estate advisor.


RESIDENTIAL ADVERSITIES: Leon Jones Named Subchapter V Trustee
--------------------------------------------------------------
The U.S. Trustee for Region 21 appointed Leon Jones, Esq., at Jones
& Walden, LLC, as Subchapter V trustee for Residential Adversities,
LLC.

Mr. Jones will be paid an hourly fee of $475 for his services as
Subchapter V trustee and will be reimbursed for work-related
expenses incurred.  

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

The Subchapter V trustee can be reached at:

     Leon S. Jones, Esq.
     Jones & Walden, LLC
     699 Piedmont Ave. NE
     Atlanta, GA 30308
     Phone: (404) 564-9300
     Email: ljones@joneswalden.com

                   About Residential Adversities

Residential Adversities, LLC is primarily engaged in leasing
buildings, dwellings, or other real estate property to others. The
Debtor owns three properties, all located in Georgia, having a
total appraised value of $2.95 million.

The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. N.D. Ga. Case No. 24-54366) on April 30,
2024, with $2,980,000 in assets and $1,182,056 in liabilities.
Lacey Murry-Bullock, member, signed the petition.

Brad Fallon, Esq., at Fallon Law, PC represents the Debtor as
bankruptcy counsel.


RITE AID CORP: Closes More Than 520 Stores Since Chapter 11 Filing
------------------------------------------------------------------
Kelly Gooch of Becker's Hospital CFO Report reports that
Philadelphia-based Rite Aid has said since it filed for Chapter 11
bankruptcy seven months ago that it will close more than 520
locations, according to a Bloomberg News analysis of court records.


When Rite Aid filed for bankruptcy, it had about 2,100 stores
across the U.S. Closures have occurred since then in multiple
states including Pennsylvania, New Jersey, New York, Ohio,
California, Massachusetts, Michigan, Virginia and Maryland.

A representative for Rite Aid declined to comment to Bloomberg News
on the closings.

The closings come as Rite Aid is going through a financial
restructuring process to exit bankruptcy.

A statement shared with Becker's in April said that the chain
regularly reviews its retail footprint and that the chain "notified
the court of certain underperforming stores we are closing to
further reduce rent expense and strengthen overall financial
performance."

As of May 3, bondholders agreed to provide the company with $57
million in exchange for taking business out of bankruptcy, lawyers
have said, according to Bloomberg News. The publication also
reported that Rite Aid, which was sued by the Justice Department
over allegedly filling prescriptions that failed to meet legal
requirements, has also reached agreements with government
authorities and others representing opioid victims and other tort
claimants.

Rite Aid currently has about 1,700 retail pharmacy locations in 16
states, according to its website.

                        About Rite Aid

Rite Aid -- http://www.riteaid.com-- is a full-service pharmacy.
Its wholly owned subsidiaries include Elixir, Bartell Drugs and
Health Dialog. Elixir, Rite Aid pharmacy benefits and Services
Company, consists of accredited mail and specialty pharmacies,
prescription discount programs and an industry leading
adjudication
platform to offer superior member experience and cost savings.
Health Dialog provides healthcare coaching and disease management
services via live online and phone health services. Regional chain
Bartell Drugs has supported the health and wellness needs in the
Seattle area for more than 130 years.

Rite Aid Corporation and various affiliated entities sought
protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr.
D.N.J. Lead Case No. 23-18993) on October 15, 2023. In the petition
signed by Jeffrey S. Stein, their chief executive officer and chief
restructuring officer, Rite Aid Corp. disclosed $7,650,418,000 in
total assets and $8,597,866,000 in total liabilities.

Judge Michael B. Kaplan oversees the jointly consolidated cases.

The Debtors tapped Kirkland & Ellis LLP and Kirkland & Ellis
International LLP as general bankruptcy counsel, Cole Schotz, P.C.
as local bankruptcy counsel, Guggenheim Partners as investment
banker, Alvarez & Marsal North America, LLC as financial, tax and
restructuring advisor, and Kroll Restructing Administration as
claims and noticing agent. Kramer Levin Naftalis & Frankel LLP,
serves as counsel to the Official Committee of Unsecured Creditors.
Kelley Drye & Warren LLP
serves as co-counsel to the Committee.

A Tort Claimants Committee is represented by Akin Gump Strauss
Hauer & Feld LLP as lead counsel and Sherman, Silverstein, Kohl,
Rose & Podolsky, P.A as local counsel.

The Dann Law Firm, P.C.; Martzell, Bickford & Centola; Creadore Law
Firm PC; and Thompson Barney advise an Ad Hoc Committee comprised
of parents and guardians advocating on behalf of children born with
Neonatal Abstinence Syndrome, and who assert general unsecured
claims on account of the children’s fetal opioid exposure.

DLA Piper LLP (US) serves as counsel to Medimpact Healthcare
Systems, Inc., the buyer of the Elixir pharmacy benefits management
business. Greenberg Traurig, LLP, and Choate Hall & Stewart LLP
serve as co-counsel to Bank of America, N.A., the administrative
agent for the prepetition first lien lenders and the DIP lenders.

Paul, Weiss, Rifkind, Wharton & Garrison LLP and Fox Rothschild LLP
represent the Ad Hoc Group of Secured Noteholders. FTI Consulting
and Evercore is serving or served as financial advisors to the
bondholders.



RITE AID: Gets Court Nod to Sell Assets for $260,500
----------------------------------------------------
A U.S. bankruptcy judge has given the go-signal for Rite Aid of
Michigan, Inc., an affiliate of Rite Aid Corp., to sell its
assets.

Judge Michael Kaplan of the U.S. Bankruptcy Court for the District
of New Jersey approved two separate agreements, allowing Rite Aid
to sell its assets to Affinity 14 Investments, LLC and Affinity 20
Investments, LLC.

One of the agreements provides for the sale of Rite Aid's real
property in Wayne County, Mich., and the improvements thereon to
Affinity 20, the company's landlord.

Affinity 20 offered $225,000 for the real property, which is being
sold "free and clear" of interests.

The other agreement provides for the sale of Rite Aid's ground
lease with Affinity 20 and a related sublease with Dollar Tree
Stores of Michigan, Inc. to Affinity 14 for $35,500.

Both the lease and the sublease will be transferred to the buyer
"free and clear" of liens, claims, encumbrances and interests.

Entry into the lease sale agreement will avoid further rent
payments and other administrative costs associated with the lease.
Moreover, it is a condition to entry into the real property sale
agreement, according to Rite Aid's attorney, Michael Sirota, Esq.,
at Cole Schotz, P.C.

"The lease sale not only results in $35,500 of cash proceeds but
also the ability to consummate a sale of the property for
$225,000," Mr. Sirota said in court papers.

                          About Rite Aid

Rite Aid -- http://www.riteaid.com-- is a full-service pharmacy
that improves health outcomes. Rite Aid is defining the modern
pharmacy by meeting customer needs with a wide range of vehicles
that offer convenience, including retail and delivery pharmacy, as
well as services offered through our wholly owned subsidiaries,
Elixir, Bartell Drugs and Health Dialog. Elixir, Rite Aid's
pharmacy benefits and services company, consists of accredited mail
and specialty pharmacies, prescription discount programs and an
industry leading adjudication platform to offer superior member
experience and cost savings. Health Dialog provides healthcare
coaching and disease management services via live online and phone
health services. Regional chain Bartell Drugs has supported the
health and wellness needs in the Seattle area for more than 130
years.

Rite Aid employs more than 6,100 pharmacists and operates more than
2,100 retail pharmacy locations across 17 states.

The Debtors sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D.N.J. Lead Case No. 23-18993) on October
15, 2023. In the petition signed by Jeffrey S. Stein, chief
executive officer and chief restructuring officer, the Debtor
disclosed $7,650,418,000 in total assets and $8,597,866,000 in
total liabilities.

Judge Michael B. Kaplan oversees the case.

The Debtors tapped Kirkland & Ellis LLP and Kirkland & Ellis
International LLP as general bankruptcy counsel, Cole Schotz, P.C.
as local bankruptcy counsel, Guggenheim Partners as investment
banker, Alvarez & Marsal North America, LLC as financial, tax and
restructuring advisor, and Kroll Restructuring Administration as
claims and noticing agent.

Kramer Levin Naftalis & Frankel LLP, serves as counsel to the
Official Committee of Unsecured Creditors. Kelley Drye & Warren LLP
serves as co-counsel to the Committee.

A Tort Claimants Committee is represented by Akin Gump Strauss
Hauer & Feld LLP as lead counsel and Sherman, Silverstein, Kohl,
Rose & Podolsky, P.A as local counsel.

The Dann Law Firm, P.C.; Martzell, Bickford & Centola; Creadore Law
Firm PC; and Thompson Barney advise an Ad Hoc Committee comprised
of parents and guardians advocating on behalf of children born with
Neonatal Abstinence Syndrome, and who assert general unsecured
claims on account of the children's fetal opioid exposure.

DLA Piper LLP (US) serves as counsel to Medimpact Healthcare
Systems, Inc., the buyer of the Elixir pharmacy benefits management
business.

Greenberg Traurig, LLP, and Choate Hall & Stewart LLP serve as
co-counsel to Bank of America, N.A., the administrative agent for
the prepetition first lien lenders and the DIP lenders.

Paul, Weiss, Rifkind, Wharton & Garrison LLP and Fox Rothschild LLP
represent the Ad Hoc Group of Secured Noteholders. FTI Consulting
and Evercore is serving or served as financial advisors to the
Bondholders.


RITE AID: Opioid Victims Ask Court Okay to Get Insurance Payout
---------------------------------------------------------------
Evan Ochsner of Bloomberg Law reports that pople who are suffering
health consequences caused by their pregnant mothers' use of
opioids are asking a court to determine that they should get a
payout from Rite Aid Corp.'s insurance policies.

Rite Aid is liable because it negligently prescribed opioids, and
its insurers have an obligation to pay out that liability, the
claimants said. The claimant group is made up of people
experiencing the effects of Neonatal Abstinence Syndrome, which is
a range of adverse health effects caused by exposure to opioids in
the womb.

                         About Rite Aid

Rite Aid -- http://www.riteaid.com-- is a full-service pharmacy.
Its wholly owned subsidiaries include Elixir, Bartell Drugs and
Health Dialog. Elixir, Rite Aid's pharmacy benefits and Services
Company, consists of accredited mail and specialty pharmacies,
prescription discount programs and an industry leading
adjudication
platform to offer superior member experience and cost savings.
Health Dialog provides healthcare coaching and disease management
services via live online and phone health services. Regional chain
Bartell Drugs has supported the health and wellness needs in the
Seattle area for more than 130 years.

Rite Aid Corporation and various affiliated entities sought
protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr.
D.N.J. Lead Case No. 23-18993) on October 15, 2023. In the petition
signed by Jeffrey S. Stein, their chief executive officer and chief
restructuring officer, Rite Aid Corp. disclosed $7,650,418,000 in
total assets and $8,597,866,000 in total liabilities.

Judge Michael B. Kaplan oversees the jointly consolidated cases.

The Debtors tapped Kirkland & Ellis LLP and Kirkland & Ellis
International LLP as general bankruptcy counsel, Cole Schotz, P.C.
as local bankruptcy counsel, Guggenheim Partners as investment
banker, Alvarez & Marsal North America, LLC as financial, tax and
restructuring advisor, and Kroll Restructing Administration as
claims and noticing agent. Kramer Levin Naftalis & Frankel LLP,
serves as counsel to the Official Committee of Unsecured Creditors.
Kelley Drye & Warren LLP serves as co-counsel to the Committee.

A Tort Claimants Committee is represented by Akin Gump Strauss
Hauer & Feld LLP as lead counsel and Sherman, Silverstein, Kohl,
Rose & Podolsky, P.A as local counsel.

The Dann Law Firm, P.C.; Martzell, Bickford & Centola; Creadore Law
Firm PC; and Thompson Barney advise an Ad Hoc Committee comprised
of parents and guardians advocating on behalf of children born with
Neonatal Abstinence Syndrome, and who assert general unsecured
claims on account of the children's fetal opioid exposure.

DLA Piper LLP (US) serves as counsel to Medimpact Healthcare
Systems, Inc., the buyer of the Elixir pharmacy benefits management
business. Greenberg Traurig, LLP, and Choate Hall & Stewart LLP
serve as co-counsel to Bank of America, N.A., the administrative
agent for the prepetition first lien lenders and the DIP lenders.

Paul, Weiss, Rifkind, Wharton & Garrison LLP and Fox Rothschild LLP
represent the Ad Hoc Group of Secured Noteholders. FTI Consulting
and Evercore is serving or served as financial advisors to the
bondholders.






SAM ASH MUSIC: Enters Chapter 11, To Liquidate Chains
-----------------------------------------------------
Steven Church of Bloomberg News reports that Sam Ash Music Corp, a
specialty chain of 42 stores that cater to musicians, filed for
bankruptcy with plans to liquidate itself if it can't find a buyer
willing to rescue the New York-based retailer.

The company listed more than $100 million in debt in a Chapter 11
petition filed in US Bankruptcy Court in Newark, New Jersey.

Retail lender Tiger Finance has agreed to buy the 100-year-old
firm's stores and inventory, unless a higher offer comes in Sam Ash
blamed its failure on the pandemic, when more customers switched to
online shopping.

                     About Sam Ash Music Corp.

Sam Ash Music Corporation operates a chain of musical instrument
retail stores. The Company offers guitars, basses, band and
orchestra, drums, keyboards, live sound, recording gear, dj and
lighting. Sam Ash Music serves customers throughout the United
States.

Sam Ash Music Corp. sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D.N.J. Case No. 24-14727) on May 9, 2024.
In the petition filed by Jordan Meyers, as chief restructuring
officer, the Debtor reported assets between $100 million and $500
million and estimated liabilities between $100 million and $500
million.

The Honorable Bankruptcy Judge Stacey L. Meisel oversees the case.

The Debtor tapped COLE SCHOTZ P.C. as counsel; SIERRACONSTELLATION
PARTNERS LLC as financial advisor; and CAPSTONE CAPITAL MARKETS,
LLC, as investment banker.


SAM ASH: Gets Court Okay to Tap $20Mil. DIP That Trust Opposed
--------------------------------------------------------------
Alex Wittenberg of Law360 reports that music store chain Sam Ash
won a New Jersey bankruptcy court's blessing Friday, May 10, 2024,
to borrow $20 million in Chapter 11 financing, defeating an
objection by the U.S. Trustee's Office to a mechanism that would
let the funds be used to pay off existing debt held by the lender.


                   About Sam Ash Music Corp.

Sam Ash Music Corporation operates a chain of musical instrument
retail stores. The Company offers guitars, basses, band and
orchestra, drums, keyboards, live sound, recording gear, dj and
lighting. Sam Ash Music serves customers throughout the United
States.

Sam Ash Music Corp. sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D.N.J. Case No. 24-14727) on May 9, 2024.
In the petition filed by Jordan Meyers, as chief restructuring
officer, the Debtor reports estimated assets between $100 million
and $500 million and estimated liabilities between $100 million and
$500 million.

The Honorable Bankruptcy Judge Stacey L. Meisel oversees the case.

The Debtor is represented by:

     Michael D. Sirota, Esq.          
     COLE SCHOTZ P.C.
     Court Plaza North
     25 Main Street
     Hackensack, NJ 07601
     Tel: 201-489-3000
     Email: msirota@coleschotz.com



SENSATA TECHNOLOGIES: Moody's Rates New Sr. Unsecured Notes 'Ba2'
-----------------------------------------------------------------
Moody's Ratings assigned a Ba2 rating to the new backed senior
unsecured notes of Sensata Technologies, Inc., an indirect wholly
owned subsidiary of Sensata Technologies B.V. (Sensata). The Baa2
rating on the senior secured revolving credit facility and the Ba2
rating on the existing backed senior unsecured notes of Sensata
Technologies, Inc. are unaffected. The ratings of Sensata are also
unaffected, including the Ba2 corporate family rating, the Ba2-PD
probability of default rating and the Ba2 rating of the existing
senior unsecured notes issued by Sensata. The outlook is positive.
    

Sensata Technologies, Inc. intends to use the net proceeds from the
offering, together with cash on hand, for the redemption of the
5.000% senior unsecured notes due 2025 issued by Sensata with a
principal amount outstanding of $700 million. The rating on the
notes due 2025 will be withdrawn when the notes have been repaid in
full.

RATINGS RATIONALE

Sensata's ratings reflect the company's good scale in the
specialized and fragmented sensors and controls market. Sensata's
products are deeply embedded in its customers' products and help
solve engineering challenges, enhance efficiency and performance,
and ensure safety. Sensata aims to aid its customers navigating
trends in their respective markets, including trends that result
from regulatory changes. The company is particularly focused on the
transition to electrification, including by increasing its content
on electric vehicles. An increase in research and development
expense in the last several years helped feed a more differentiated
product offering, resulting in notable new business wins.

The company is, however, exposed to cyclical end markets, in
particular the automotive, truck and off-road vehicle markets.
Sensata also has a history of acquisitions to expand its technology
offerings, which at times resulted in higher financial leverage.

Notwithstanding a gradual return to typical market conditions with
pricing pressure, Moody's anticipates that Sensata will modestly
increase its EBITA margin in 2024 through ongoing focus on
productivity improvements.

The positive outlook reflects Moody's expectation that Sensata will
continue to repay outstanding indebtedness and gradually grow
earnings such that debt/EBITDA approaches 3.5 times by the end of
2024.

Moody's expects Sensata's liquidity to remain very good (SGL-1),
supported by a cash balance of $460 million at March 31, 2024 and
Moody's expectation for free cash flow of more than $200 million in
2024, after dividends. In addition, substantially all of the
company's $750 million revolving credit facility is expected to be
available.

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

The ratings could be upgraded if Sensata can sustain debt/EBITDA
below 3.5 times, FCF/debt above 13% and an EBITA margin in excess
of 20%.

The ratings could be downgraded if debt/EBITDA is sustained above
4.25 times, FCF/debt is below 10%, or EBITDA/interest is below 4.5
times. In addition, the ratings could be downgraded with a shift
towards a more aggressive financial policy or if there is a
material weakening of liquidity.

The principal methodology used in this rating was Manufacturing
published in September 2021.

Sensata Technologies B.V. and Sensata Technologies, Inc., are
indirect wholly-owned subsidiaries of Sensata Technologies Holding
plc, which is a global manufacturer of sensors, electrical
protection components and sensor rich solutions for the automotive,
truck and offroad vehicle, industrial, clean energy, aerospace and
other markets. Revenue for the last twelve months ended March 31,
2024 was $4.1 billion.


SEVENTEEN00 LLC: Christopher Hayes Named Subchapter V Trustee
-------------------------------------------------------------
The U.S. Trustee for Region 17 appointed Christopher Hayes as
Subchapter V trustee for Seventeen00 LLC.

Mr. Hayes will be paid an hourly fee of $455 for his services as
Subchapter V trustee and will be reimbursed for work-related
expenses incurred.  

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

The Subchapter V trustee can be reached at:

     Christopher Hayes
     23 Railroad Avenue, #1238
     Danville, CA 94526
     Phone: (925) 725-4323
     Email: chayestrustee@gmail.com

                       About Seventeen00 LLC

Seventeen00, LLC sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. N.D. Calif. Case No. 24-10240) on May 1,
2024, with $1 million to $10 million in both assets and
liabilities. John Loe, managing member, signed the petition.

Judge William J. Lafferty presides over the case.

E. Vincent Wood, Esq., at Shepherd & Wood, LLP represents the
Debtor as legal counsel.


SHARKFIN REAL: U.S. Trustee Unable to Appoint Committee
-------------------------------------------------------
The U.S. Trustee for Region 21, until further notice, will not
appoint an official committee of unsecured creditors in the Chapter
11 case of Sharkfin Real Estate Holdings, LLC, according to court
dockets.

                 About Sharkfin Real Estate Holdings

Sharkfin Real Estate Holdings, LLC owns 28 residential properties
in Florida having a total current value of $4.83 million.

The Debtor filed a petition under Chapter 11, Subchapter V of the
Bankruptcy Code (Bankr. M.D. Fla. Case No. 24-00814) on March 21,
2024. In the petition signed by Terri E. Widdick, manager, the
Debtor disclosed $4,858,044 in total assets and $9,340,025 in total
liabilities.

Judge Jacob A. Brown oversees the case.

Bryan K. Mickler, Esq., at the Law Offices of Mickler & Mickler,
LLP represents the Debtor as bankruptcy counsel.


SHERMAN/GRAYSON: PCO Reports No Change in Patient Care Quality
--------------------------------------------------------------
Daniel McMurray, the court-appointed patient care ombudsman, filed
his third report regarding the quality of patient care provided by
Sherman/Grayson Hospital, LLC.

The report covers the period from March 1 to April 29.

The Ombudsman conducted a facility visit from March 11 to March 13
at Wilson N. Jones Regional Medical Center ("Hospital" or "WNJ") to
review the current operational status of the Hospital and its
programs. In connection with or in addition to the site visit, the
Ombudsman conducted interviews with staff and reviewed various
materials to maintain a current understanding of the issues and
challenges impacting the operations and potentially the quality of
care delivered, including matters and issues presented in the
bankruptcy process and/or noted in the public domain.

During this reporting period, the Hospital's operations remain open
and functional, and the Hospital continues to provide services to
patients and the communities which the Hospital has served and
continues to serve.

Based on the facility tours, discussions with executive leadership,
departmental leadership and staff members, observation and facility
tours, as well as extensive discussions with WNJ leadership and
interface with the staff charged with compliance and with quality
and regulatory requirements, notwithstanding the challenges facing
the Hospital, in the opinion of the Ombudsman there remains a
palpable commitment to providing the highest possible quality of
care and services to the patients and community.

In addition, the leadership and staff at WNJ have met and strive to
continue to meet the prevailing standards set by state and Federal
regulators as well as the various accreditation and certification
programs, setting the stage for what is considered appropriate and
superior care.

After careful review, it appears that, notwithstanding a number of
significant challenges identified during this reporting period, the
care provided by the Hospital is meeting or exceeding the standards
for quality. There has been no deterioration in quality as a result
of the bankruptcy or other circumstances. Minor suggestions made by
the Ombudsman during the review process were addressed and
resolved.

A copy of the ombudsman report is available for free at
https://urlcurt.com/u?l=uEQTWP from PacerMonitor.com.

                  About Sherman/Grayson Hospital

Sherman/Grayson Hospital, LLC is the operator of Wilson N. Jones
Regional Medical Center, a 207-bed acute care hospital in Sherman,
Texas.

Sherman/Grayson Hospital sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D. Del. Case No. 23-10810) on June 23,
2023, with $1 million to $10 million in assets and $50 million to
$100 million in liabilities. Judge J. Kate Stickles oversees the
case.

Leonard M. Shulman, Esq., at Shulman Bastian Friedman & Bui, LLP
and Rosner Law Group, LLC serve as the Debtor's bankruptcy counsel
and Delaware counsel, respectively.

The U.S. Trustee for Region 3 appointed an official committee to
represent unsecured creditors in the Debtor's Chapter 11 case. The
committee tapped Potter Anderson & Corroon, LLP and RK Consultants,
LLC as legal counsel and financial advisor.

Daniel T. McMurray is the patient care ombudsman appointed in the
Debtor's Chapter 11 case.


SIBANYE-STILLWATER LTD: Fitch Affirms BB LongTerm IDR, Outlook Neg.
-------------------------------------------------------------------
Fitch Ratings has affirmed Sibanye-Stillwater Limited's (Sibanye)
Long-Term Issuer Default Rating (IDR) at 'BB' with a Negative
Outlook. Fitch has also affirmed the senior unsecured rating on the
bonds issued by Stillwater Mining Company (guaranteed by Sibanye)
at 'BB'. The Recovery Rating is 'RR4'.

The Negative Outlook reflects weaker market dynamics for precious
group metals (PGM; platinum, palladium and rhodium) coupled with
high costs across major assets at a time of growth investment in
battery materials. Fitch expects free cash flow (FCF) to remain
negative over the next three years and EBITDA net leverage to rise
to around 1.9-2.0x, exceeding its rating sensitivities for
mid-cycle conditions. Broad restructuring measures and cost cutting
are underway. Business plan execution risks have increased and
financial flexibility has reduced over the past six months.

KEY RATING DRIVERS

Financial Profile Weakening: Fitch's rating case estimates ZAR15
billion of EBITDA in 2024 and ZAR9 billion of negative FCF
(assuming restructuring measures support earnings later in the
year; EBITDA for 1Q24 was reported at ZAR2.1 billion). Fitch
expects earnings to remain flat at ZAR15 billion until production
from Keliber comes on line and pushes EBITDA above ZAR16 billion in
2027. EBITDA net leverage is likely to increase to 1.5x by end-2024
and closer to 2.0x by 2027.

PGM Prices Remain Subdued: Over the last three months, major PGM
producers have announced efficiency measures and scaled back growth
capex, but have not implemented meaningful production cuts. In
response, platinum and palladium prices have recovered from below
USD900 per ounce in February, but remain subdued at
USD1,000-1,050.

Prices could continue recovering once destocking of metal held by
original equipment manufacturers concludes, with demand for
internal combustion engine and hybrid cars improving. Fitch has
assumed USD1,050 per ounce for both metals over the forecast
horizon. However, the macro-picture remains weak and rising trade
tensions could negatively impact sentiment, meaning the longer-term
price path for platinum and palladium remains uncertain.

Net Leverage in Focus: Sibanye maintains significant cash on
balance sheet (currently around USD1.2 billion). Due to its
acquisitive growth strategy, Fitch historically has used EBITDA
gross leverage as a negative rating sensitivity (above 2x),
assuming that funds could be deployed at the next opportunity.
Given the weakened financial position, Fitch understands from
management that there will be no further acquisitions until
profitability and financial flexibility have been restored.
Consequently, Fitch has introduced EBITDA net leverage (above 1.7x)
as an alternative downgrade sensitivity more reflective of the
current situation.

Rating Through the Cycle: Its rating forecast indicates EBITDA net
leverage of 1.9-2.0x for 2026 and 2027, which exceeds the negative
sensitivity. Given PGM basket prices and lithium currently exhibit
weak trading levels, and greenfield spending in Finland, a more
benign operating environment, is improving portfolio
diversification, Fitch has affirmed the rating with a Negative
Outlook. Fitch will observe over the next 12 months whether Sibanye
delivers on its restructuring programme and performs in line with
its expectations and whether demand for PGMs firms up or not.

Material Business Plan Execution Risk: Sibanye has embarked on a
broad restructuring programme across its South African and US
operations to tackle weak profitability. All-in sustaining costs
are at or exceed product prices in various operations. Achieved
margins are slim even in gold. Announced measures target around
ZAR4 billion of savings and ZAR2.6 billion of deferred capital.
Major operational changes will take time as the company engages
with relevant stakeholders, including unions and governments. The
full benefit of earnings enhancements will only emerge from 2025.

Battery Metals Diversification: Sibanye is progressing with lithium
greenfield projects in Finland and potentially in the US with the
ambition of diversifying its earnings base beyond PGMs. Fitch
expects debt funding for remaining capex for Keliber to be secured
later this year, with construction on budget and on schedule for
production from end-2025 and positive cash flow contributions from
2026. Rhyolite Ridge is in the final stages of permitting. A final
investment decision is pending and Fitch understands that Sibanye
would pursue funding options that are net debt neutral.

Lithium Comes Off Market Peak: Lithium supply has expanded ahead of
demand, and the market should be well supplied over the medium
term. Fitch expects prices to remain at moderate levels over the
forecast horizon. Longer term, the market should tighten as the
energy transition gathers pace. With an expected cash cost of
USD7,500 per tonne, even with Fitch's conservative lithium
assumptions, Keliber will deliver EBITDA margins of above 50%.

South African Country Ceiling Applied: Fitch anticipates that
all-in sustaining costs of US operations may remain high compared
with the realised basket price, meaning cash-flow generation from
the US is unlikely to sustainably cover hard-currency gross
interest expense over the coming years. As a result, Fitch reverts
to using South Africa's Country Ceiling of 'BB', which does not
constrain Sibanye's Long-Term 'BB' IDR.

DERIVATION SUMMARY

Endeavour Mining plc's (BB/Stable) gold operations are
significantly lower-cost (second quartile) and more profitable than
Sibanye's. This provides Endeavour with meaningful financial
flexibility to maintain conservative leverage even during a high
capex cycle. Endeavour's financial policy aims for net debt/EBITDA
below 0.5x (as per the company's definition), even in a lower gold
price environment and during construction of new assets. Endeavour
has production guidance of 1.13-1.27 million ounces for 2024,
rising to 1.3 million ounces in 2025, linked to full-year benefit
of expansion projects concluded at Sabodala-Massawa and Lafigué.
The rating is capped at Cote d'Ivoire's 'BB' Country Ceiling.

Sibanye's operations currently have weak profitability. In recent
years, strong cash-flow generation from the PGM business in South
Africa supported development of the group's other assets. Given the
downturn in PGM prices, waning earnings are driving increased
leverage in 2024 at a time of sizeable investments for
diversification into battery metals. Sibanye has production
guidance of 440,000-460,000 2E ounces for its US PGM operations,
1.8-1.9 million 4E ounces for its South African PGM operations and
627,000-659,000 ounces for its South African gold operations
(excluding tailings recycling at DRDGOLD).

KEY ASSUMPTIONS

- Price assumptions for both platinum and palladium at USD1,050 per
ounce over the forecast horizon; for rhodium at 4,250 per ounce in
2024 and USD4,000 for subsequent years; for gold at USD1,900 per
ounce in 2024, USD1,800 in 2025, USD1,600 in 2026 and USD1,500 in
2027; for lithium at USD13,600 in 2026 and USD15,200 in 2027

- Initial cost savings to be achieved in 2024

- South African rand to the US dollar at 18.5 over the forecast
horizon

- No dividends to be declared over the medium term based on weak
earnings in the rating case

- Capex of ZAR18.7 billion in 2024 reducing towards ZAR10 billion
by 2027

- Approval by the shareholders annual general meeting (AGM) to
facilitate share settlement of the USD500 million convertible bond
due in 2028 (option for the bondholder), which will either lead to
conversion to equity over time and/or repayment at par of bonds
that remain outstanding at maturity in 2028

- If approved, USD490 million of equity contribution for the
Rhyolite Ridge transaction will not be sourced from existing cash
or be debt funded

RATING SENSITIVITIES

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

- As the Outlook is Negative, Fitch does not expect positive rating
action at least in the short term. If the company's financial
profile stabilises, taking into account developments in the PGM
market, progress with cost cutting and restructuring initiatives or
efforts to reduce (net) debt, this could lead to rating affirmation
and Stable Outlook.

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

- EBITDA net leverage above 1.7x (2024F: 1.5x) and EBITDA gross
leverage above 2.0x on a sustained basis (2024F: 2.5x)

- EBITDA interest coverage below 6.0x on a sustained basis (2024F:
7.4x)

- Any corporate activity that is funded from Sibanye's balance
sheet (Fitch expects funding of Rhyolite Ridge to be net debt
neutral, if there is a positive final investment decision)

- Payment of dividends to common shareholders or share buybacks,
while forecast credit metrics exceed negative sensitivities and
negative FCF continues to add to net debt

- Political risks, labour disputes or power-supply disruptions in
South Africa negatively affecting cash flow generation

LIQUIDITY AND DEBT STRUCTURE

Adequate Liquidity: As of end-March 2024 Sibanye had around USD1.2
billion of cash and a USD1 billion undrawn revolving credit
facility with maturity in April 2027 (with one extension option at
lenders' discretion), compared with ZAR4,000 million short-term
maturities (USD216 million) linked to the rand revolving credit
facility with maturity in November 2024. Consequently, the group
can fund negative FCF for the next 24 months, into 1H26.

To maintain liquidity headroom Sibanye is working on a local debt
facility to fund capex for its Keliber project in Finland, a EUR500
million amortising facility to be closed in 2024 and supported by
EU counterparties.

Fitch notes Sibanye has experience with raising gold or PGM
prepayment facilities (which Fitch treats as debt) and streaming
agreements (bespoke instruments that often have equity-like
features, but need careful assessment to determine the correct
treatment linked to Fitch's Corporate Rating Criteria). The USD500
million convertible bond is currently also classified as short-term
debt, but once shareholders have approved potential share
settlement as part of the AGM end-May 2024, this financial
obligation will either convert into equity over time or be
repayable at maturity in 2028.

ISSUER PROFILE

Sibanye is a leading international precious metals mining and
recycling company, with a diverse portfolio of PGM operations in
South Africa and the US, and gold operations and projects in South
Africa. The company has diversified into battery metals, acquiring
the Sandouville nickel refinery in France and developing two
lithium projects; Keliber in Finland (under construction), and
Rhyolite Ridge in the US (in the permitting process).

SUMMARY OF FINANCIAL ADJUSTMENTS

For December 2023

- ZAR582 million of leases were excluded from the total debt
amount. ZAR210 million of depreciation and ZAR42 million of
interest for leasing contracts were treated as operating
expenditure, reducing EBITDA.

- The high-yield notes were included in gross debt corresponding to
the outstanding notional amounts ZAR12,535 million and ZAR9,749
million (disregarding any unamortised issue premium); similarly,
the convertible bond was included in gross debt at ZAR9,285 million
(equivalent to USD500 million)

- The USD500 million metal streaming agreement entered into by
Sibanye Gold Limited with Wheaton International was assessed to
have equity-like features and not treated as debt.

ESG CONSIDERATIONS

Sibanye has an ESG Relevance Score of '4' for Employee Wellbeing
due to ongoing safety-related incidents, which 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   Prior
   -----------             ------        --------   -----
Sibanye-Stillwater
Limited              LT IDR BB  Affirmed            BB

Stillwater
Mining Company

   Guaranteed        LT     BB  Affirmed   RR4      BB


SONDER HOLDINGS: Hires Moelis to Help Boost Its Financial Health
----------------------------------------------------------------
Reshmi Basu and Eliza Ronalds-Hannon of Bloomberg News report that
short-term rental company Sonder Holdings Inc. is exploring
multiple options to strengthen its financial health with the help
of Moelis & Co., according to people with knowledge of the
situation, who asked not to be named discussing a private matter.

Sonder has recently been looking to shore up its cash reserves and
slash its capital expenditures, according to regulatory filings.
The company previously said it wants to tackle costly leases as it
looks to slow down its cash burn.

                     About Sonder Holdings Inc.

Sonder Holdings Inc. operates as a hospitality company. The Company
provides tech-enabled services to offers accommodation options from
spacious rooms to fully-equipped suites and apartments. Sonder
Holdings serves customers worldwide.


SOTERA HEALTH: Moody's Rates New $750MM Senior Secured Notes 'B1'
-----------------------------------------------------------------
Moody's Ratings assigned a B1 rating to Sotera Health Holdings,
LLC's ("Sotera Health") proposed $750 million backed senior secured
notes due 2031. Sortera Health intends to use net proceeds from
this transaction to fully pay down the borrowings under its
existing senior secured first lien term loan due 2026 and to cover
related transaction expenses.

To the extent that  proceeds from this notes offering are used to
repay existing term loan, the transaction is leverage neutral and
will extend Sotera Health's debt maturities.

Moody's also affirmed the company's B1 Corporate Family Rating
(CFR), B1-PD Probability of Default Rating (PDR) and the B1 rating
of the existing senior secured first lien bank credit facility
(which includes a revolver and term loans). The outlook remains
stable and the company's Speculative Grade Liquidity (SGL) rating
is unchanged at SGL-1.

The affirmation of Sotera Health's ratings reflects the company's
stable business performance,  improving financial leverage, very
good liquidity and Moody's expectation of positive free cash flow.
The affirmation also reflects Moody's expectation that final
leverage will remain moderately high, with debt/EBITDA of 4.5 to
5.5 times over the next 12-18 months.

RATINGS RATIONALE

Sotera Health's B1 CFR benefits from its leading position in the
contract sterilization outsourcing market, no meaningful customer
concentrations, a global footprint and significant barriers to
entry and meaningful customer switching costs. The company's rating
also reflects solid business performance, consistent positive free
cash flow (after excluding litigation-related payments), moderately
high financial leverage and very good liquidity.

The B1 CFR is constrained by moderately high leverage, exposure to
the litigation risks associated with the device sterilization
industry, and the significant environmental risks arising from the
handling of toxic gases in its manufacturing process. The company
is reducing its reliance on device sterilization through gradual
expansion into new categories such as the lab services sector.
Sotera Health also has a concentrated supply chain with limited
providers of key chemicals. Moody's estimates that the company's
financial leverage was approximately 5.0 times at the end of March
31, 2024, and it will operate with deb/EBITDA in the 4.5-5.5 times
range in the next 12-18 months.

The outlook is stable. Moody's expects Sotera Health to continue to
grow its business while managing its exposure to litigation risks
in the next 12-18 months.

Sotera Health's revolving credit facility, term loans and senior
secured notes are all rated B1, at the same level as the company's
Corporate Family Rating. The revolving credit facility term loans
and senior secured notes represent substantially all of company's
debt, and these debt instruments are pari passu with each other.

Sotera Health's CIS-4 credit impact score indicates that the rating
is lower than it would have been if ESG risk exposures did not
exist. The company's E-4 score reflects elevated risks related to
waste and pollution. Sterigenics U.S., LLC, a core operating
subsidiary of Sotera Health, uses radioactive materials and highly
toxic chemicals to sterilize certain types of medical devices.
Sotera Health's S-5 score represents social risk exposures mainly
stemming from responsible production. The company is subject to
personal injury and related tort lawsuits alleging various injuries
caused by low-level environmental exposure to ethylene oxide
emissions from its sterilization facilities. The company's G-3
score reflects a combination of reasonable management credibility
and track record, a clearly articulated leverage target, but
tempered by concentrated ownership and board structure
considerations.

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

Factors that could lead to a downgrade include negative
developments with the company's legal exposure. The rating could
also be downgraded if the company's liquidity weakens, financial
policies become more aggressive or if legal and environmental risks
increase substantially. Quantitively, ratings could be downgraded
if debt/EBITDA is sustained above 5.5 times.

Factors that could lead to an upgrade include balanced financial
policies and continued growth in business scale and revenues,
well-contained costs related to environmental and litigation risks,
and clarity on likely outcomes for the pending lawsuits.
Quantitatively, ratings could be upgraded if debt/EBITDA is
sustained below 4.5 times.

Sotera Health Holdings, LLC, headquartered near Cleveland, OH, is a
global provider of mission-critical end-to-end sterilization
solutions, lab testing and advisory services for the healthcare
industry with operations primarily in the Americas, Europe and
Asia. The company generated approximately $1.1 billion in revenues
in the twelve months that ended on March 31, 2024. The parent
company of Sotera Health Holdings, LLC -- Sotera Health Company --
is a publicly traded company. However private equity firms --
Warburg Pincus International LLC and GTCR LLC -- continue to hold
approximately 52% of the outstanding shares.

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


SOUTHERN CLEARING: Unsecureds to Get a Prorata Portion of $43K
--------------------------------------------------------------
Southern Clearing & Grinding, Inc. submitted a First Amended Plan
of Reorganization.

The Debtor's projected Disposable Income over the life of the Plan
is $42,984.

Under the Plan, Class 4 consists of the Allowed Unsecured Claims
against the Debtor. This Class is Impaired. Creditors will be
treated as follows:

   a. Consensual Plan Treatment:

The Debtor proposes to pay unsecured creditors a pro rata portion
of $43,000. Payments will be made in equal quarterly payments of
$3,583. Payments will commence on the fifteenth day of the month,
on the first month that begins more than ninety days after the
Effective Date and will continue quarterly for eleven additional
quarters. In the event that the proposed auction sale pays
Synovus's claim in full, the Debtor will file an amended plan that
increases the distribution to unsecured creditors.

   b. Nonconsensual Plan Treatment:

      The Debtor proposes to pay unsecured creditors a pro rata
portion of $42,984, its Disposable Income. If the Debtor remains in
possession, plan payments will include the Subchapter V Trustee's
administrative fee which will be billed hourly at the Subchapter V
Trustee's then current allowable rate. Plan Payments will commence
on the fifteenth day of the month, in the first month that is
twelve months after the Effective Date and will continue annually
for two additional years. The initial annual payment will be
$6,773.

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 will be available for Administrative
Expenses.

Attorneys for the Debtor:

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

A copy of the Plan of Reorganization dated May 8, 2024, is
available at https://tinyurl.ph/Dixcf from PacerMonitor.com.

             About Southern Clearing & Grinding, Inc.

Southern Clearing & Grinding, Inc. is a turnkey vegetation removal
contractor. The Debtor sought protection under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 23-01586) on April
21, 2023. In the petition signed by Shane Dinkins, president, the
Debtor disclosed $4,205,593 in assets and $4,212,083 in
liabilities.

Judge Catherine Peek McEwen oversees the case.

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


SPECTRUM BRANDS: Moody's Alters Outlook on 'B1' CFR to Stable
-------------------------------------------------------------
Moody's Ratings affirmed Spectrum Brands, Inc.'s B1 Corporate
Family Rating, B1-PD Probability of Default Rating, the B2 ratings
on the company's senior unsecured global notes, and the Ba1 ratings
on the company's senior secured revolving credit facilities. The
SGL-1 speculative grade liquidity rating ("SGL") was unchanged. The
outlook was changed to stable from negative.

The rating actions follow Spectrum Brands offer to tender for up to
$925 million of unsecured notes across debt instruments maturing in
2026, 2029, 2030 and 2031. Concurrently, the company is seeking
lender consent to amend certain restrictive covenants on the 2026,
2029, and 2030 notes including mandates covered under the
limitations on asset sales. Spectrum is also issuing new $300
million of convertible senior unsecured notes (unrated), which may
be upsized to $350 million. Spectrum is also repurchasing $50
million of shares as part of a new $500 million share repurchase
program. The transactions as proposed are credit positive because
they will significantly reduce the debt burden, leverage and cash
interest expense. Liquidity is expected to remain very good with
pro forma cash of at least $300 million and ample capacity on its
undrawn $500 revolving credit facility.

The affirmation of the CFR and change in outlook to stable reflects
the expected deleveraging from the announced transactions as well
as the company's significantly improved operating performance.
Spectrum is delivering meaningful improvement in EBITDA and the
EBITDA margin due to cost saving initiatives and a moderation in
input costs despite continued volume pressures in the small kitchen
appliance and aquatics markets. The amount of debt to be repaid
through the tender offer and a subsequent asset sale offer is
uncertain, but is likely to be significant. Management could
potentially repay less than was previously anticipated should the
company receive consent from lenders to remove the asset sale
provisions and defease the 2031 notes. Nevertheless, Moody's
foresees significant debt reduction such that gross debt-to-EBITDA
pro forma for the transactions will decline to between 1.7x to 3.0x
(incorporating Moody's standard adjustments) depending on overall
debt repayment from 3.7x for the 12 months ended March 31, 2024.
Moody's also expects roughly $40-50 million of free cash flow after
dividends on a run-rate basis excluding cash outflow from
discontinued operations.

Longer term, Moody's anticipates leverage will increase as the
company manages towards its stated 2.0-2.5x net debt-to-EBITDA
leverage target (based on the company's calculation) following the
deployment of the remaining Hardware and Home Improvement ("HHI")
proceeds.  Because net debt-to-EBITDA on this basis will be as low
as 0.4x for the 12-months ended March 31, 2024 and pro forma for
the transactions, future leveraging transactions are likely.
Moody's expects the company to pursue new acquisitions to drive
growth and the planned divestiture or spin-off of the Home and
Personal Care business will also reduce earnings. The company's
distributions to shareholders are aggressive including a sizable
dividend that was unchanged following the HHI divestiture and
history of share repurchases. Moody's projects debt-to-EBITDA
leverage will increase to a 2.5x-3.0x range (incorporating Moody's
adjustments) as the company lifts leverage to its target range.

RATINGS RATIONALE

Spectrum Brand's B1 CFR reflects its position as a modestly sized
player in the very competitive consumer packaged goods and durables
markets. Spectrum has meaningful sensitivity to economic downturns
from exposure to discretionary products particularly in the Home
and Personal Care segment. Leverage has improved because the
company is using proceeds from the sale of HHI in 2023 to repay
debt and from improvement in the EBITDA margin. Moody's expects
gross debt-to-EBITDA will decline to between 1.7x to 3.0x
(incorporating Moody's adjustments)  from 3.7x as of March 31, 2024
as the company uses the remaining funds from the HHI transaction to
repay debt. Moody's expects leverage will increase over time as the
company manages towards its stated 2.0-2.5x target (based on
company calculations) because the target is well above the 0.4x
level on this basis for the 12-months ended March 31, 2024,
assuming completion of the full $925 million tender offer.
Financial policy is aggressive including historically high
financial leverage due to frequent debt funded acquisitions to
support Spectrum's long-term growth strategy, maintenance of the
dividend following the HHI sale, as well as history of share
repurchases. Additionally, Spectrum's divestiture of its Home and
Personal Care business will reduce earnings.

Spectrum's credit profile benefits from the company's track record
of product development and diversification across affordable
consumer-orientated brands and consumables in the Global Pet Care
and Home and Garden segments. These segments provide resiliency to
earnings and cash flows during periods of economic weakness
although Home and Garden is seasonal with purchases influenced by
weather that creates earnings volatility. Moody's expects continued
recovery in the in the EBITDA margin from cost saving initiatives
and moderating input costs. Sales are likely to decline modestly
through the remainder of fiscal year ending September 2024 largely
due to continue pressure in the kitchen appliance space and pet
durables. Spectrum's very good liquidity and lack of near-term debt
maturities provide good financial flexibility to execute on its
growth initiatives.

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

The stable outlook reflects the company's improving credit metrics
and profitability. The repayment of debt using proceeds from the
HHI sale has significantly improved Spectrum's financial
flexibility to navigate the seasonal and cyclical end-markets.
Stronger operating performance is also contributing to more
stability in the company's financial position. While the HPC and
H&G segments previously faced pressure on profitability, recent
improvements in operating performance have begun to alleviate these
concerns. The outlook also reflects that the company's very good
liquidity position which provides financial flexibility to execute
its growth strategies.

An upgrade would require greater certainty about the asset mix and
risk profile including clarity around the impact of the HPC sale,
sustained organic revenue growth and evidence that the company's
new business structure could maintain a stable EBITDA margin across
economic cycles. The company would also need to adhere to a more
conservative financial policy and operate more consistently around
2.0-2.5x net leverage target such that debt-to-EBITDA
(incorporating Moody's adjustments) is sustained below 3.5x. The
company would also need to maintain at least good liquidity
including ample coverage of seasonal cash uses through free cash
flow, available cash on hand and capacity on its revolver as well
as ample cushion on its financial leverage covenant.

Ratings could be downgraded if Spectrum's revenue or earnings
deteriorate or if the company pursues debt funded acquisitions or
shareholder distributions such that debt-to EBITDA is sustained
above 5.0x. The rating may also be downgraded if the company loses
material market share or if liquidity deteriorates.

ENVIRONMENTAL SOCIAL AND GOVERNANCE CONSIDERATIONS

Spectrum's CIS-4 indicates that the rating is lower than it would
have been if ESG risk exposures did not exist. The CIS is driven by
governance risks related to financial strategy and risk management
stemming from the company's aggressive financial policy including
frequent leveraging acquisitions, moderate levels of share
repurchases and a large dividend relative to free cash flow
generation, partially balanced by the company's 2.0-2.5x net
leverage target and track record of reducing debt following an
acquisition. The company faces environmental risks related to
carbon transition, natural capital and waste and pollution and
social risks that relate to responsible production though these
have less influence on the credit profile than governance.

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

Headquartered in Middleton, Wisconsin, Spectrum Brands, Inc. is a
global consumer product company with a diverse portfolio including
small appliances, lawn and garden, electric shaving and grooming,
pet supplies, and household insect control and cleaning. Spectrum
completed the sale of its Hardware and Home Improvement (HHI)
business on June 20, 2023, for $4.3 billion (estimated $3.6 billion
net of taxes and fees). The company is publicly traded with annual
revenue of approximately $2.9 billion.


STAPLES INC: Swaps, Redeems Notes to Refinance Debt
---------------------------------------------------
Harry Suhartono of Bloomberg News reports that Staples, Inc. is
exchanging notes due in three years with a longer-dated bonds and
buying back some of its debt as it seeks to refinance existing
liabilities.

The Sycamore Partners-backed office supply chain plans to swap the
debt due in April 2027 with new paper maturing in 2030, according
to a filing Thursday, May 9, 2024, in the US. It also plan to repay
and redeem existing term loan credit facility and senior secured
notes due in 2026.

                         About Staples Inc.

Staples, Inc. retails office supplies, furniture, and technology.




STEPHENS HEADS: Thomas Willson Named Subchapter V Trustee
---------------------------------------------------------
The Acting U.S. Trustee for Region 5 appointed Thomas Willson as
Subchapter V trustee for Stephens Heads or Tails Crawfish, LLC.

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

The Subchapter V trustee can be reached at:

     Thomas R. Willson
     1330 Jackson Street
     Alexandria LA 71301
     Phone: 318-442-8658
     Email: Rocky@rockywillsonlaw.com

                   About Stephens Heads or Tails

Stephens Heads or Tails Crawfish, LLC sought protection under
Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. La. Case No.
24-80280) on May 3, 2024, with up to $50,000 in assets and up to
$500,000 in liabilities.

Judge Stephen D. Wheelis presides over the case.

L. Laramie Henry, Esq., represents the Debtor as legal counsel.


SVB FINANCIAL: Securities Holders Slam Chapter 11 Plan Outline
--------------------------------------------------------------
Randi Love of Bloomberg Law reports that a group of SVB Financial
Group's securities holders accusing the company of costing them
billions by mismanaging its risks challenged its proposed
reorganization plan disclosures, saying they lack information on
legal protections for insiders and affiliated entities.

The securities creditors, who are pursuing a putative class action
against the company, hold senior notes and preferred equity in SVB
Financial. The former Silicon Valley Bank parent has been battling
the Federal Deposit Insurance Corp., other government entities, and
creditors since the bank collapsed last year, 2023.

                  About SVB Financial Group

SVB Financial Group (Pink Sheets: SIVBQ) is a financial services
company focusing on the innovation economy, offering financial
products and services to clients across the United States and in
key international markets.

Prior to March 10, 2023, SVB Financial Group owned and operated
Silicon Valley Bank, a state chartered bank. During the week of
March 6, 2023, Silicon Valley Bank, Santa Clara, CA, experienced a
severe "run-on-the-bank."  On the morning of March 10, the
California Department of Financial Protection and Innovation seized
SVB and placed it under the receivership of the Federal Deposit
Insurance Corporation. SVB was the nation's 16th largest bank and
the biggest to fail since the 2008 financial meltdown.

On March 17, 2023, SVB Financial Group sought Chapter 11 bankruptcy
protection (Bankr. S.D.N.Y. Case No. 23-10367). The Debtor had
assets of $19,679,000,000 and liabilities of $3,675,000,000 as of
Dec. 31, 2022.

The Hon. Martin Glenn is the bankruptcy judge.

The Debtor tapped Sullivan & Cromwell, LLP as bankruptcy counsel;
Centerview Partners, LLC as investment banker; and Alvarez & Marsal
North America, LLC as restructuring advisor. William Kosturos, a
partner at Alvarez & Marsal, serves as the Debtor's chief
restructuring officer. Kroll Restructuring Administration, LLC, is
the claims and noticing agent and administrative advisor.

The U.S. Trustee for Region 2 appointed an official committee to
represent unsecured creditors in the Debtor's Chapter 11 case.

The committee tapped Akin Gump Strauss Hauer & Feld, LLP as
bankruptcy counsel; Cole Schotz P.C. as conflict counsel; Lazard
Freres & Co. LLC as investment banker; and Berkeley Research Group,
LLC as financial advisor.


TELLURIAN INC: CEO Octavio Simoes Resigns as It Explores Sale
-------------------------------------------------------------
Amanda Drane of Microsoft Start reports that Tellurian CEO Octávio
Simões resigned as the Houston liquefied natural gas developer
explores its sale, according to regulatory filings released Monday,
May 14, 2024.

Tellurian said in a filing that its work with the financial firm
Lazard has expanded to include a potential sale of the company.

The company has been changing its business after terminating its
co-founder Charif Souki earlier this year, 2024. The company has
struggled over the past year to woo customers and equity partners
for its marquee Driftwood LNG project and, in November, warned
investors about conditions that "raise substantial doubt" about the
company's cash flow in the months ahead.

The company said earlier this month that its board chose not to
renew Simões' contract, which ends June 5. Simões is expected to
stay with the company as an adviser reporting to the president
ahead of his retirement in June.
Presidents Samik Mukherjee and Daniel Belhumeur will jointly manage
Tellurian's commercial activities going forward, the company said
in a Monday statement. The executives' compensation has not been
adjusted, the company said in a filing.

"I am encouraged by Tellurian's progress in the last few months and
we will continue to focus on delivering Driftwood LNG," co-founder
and Executive Chairman Martin Houston said in a statement. "We are
grateful for Octávio's guidance over the past several years. He
has helped position Tellurian for the future, and we wish him the
best of fortune as he transitions to retirement."

                       About Tellurian Inc.

Tellurian Inc. is a Houston-based company that is developing and
plans to own and operate a portfolio of LNG marketing and
infrastructure assets that includes an LNG terminal facility and
related pipelines. The Company also owns upstream natural gas
assets; on Feb. 6, 2024, the Company announced that it is exploring
a sale of those assets.

Houston, Texas-based Deloitte & Touche LLP, the Company's auditor
since 2016, issued a "going concern" qualification in its report
dated Feb. 23, 2024, citing that the Company has incurred recurring
losses from operations and has yet to establish an ongoing source
of revenues that is sufficient to cover its future operating costs
and obligations as they become due for the twelve months following
the date these consolidated financial statements are issued, which
raises substantial doubt about its ability to continue as a going
concern.


TOAN NGUYEN: Michael Colvard Named Subchapter V Trustee
-------------------------------------------------------
The U.S. Trustee for Region 7 appointed Michael Colvard as
Subchapter V trustee for Toan Nguyen, LLC, doing business as Cali
Nails & Spa.

Mr. Colvard will charge $400 per hour for his services as
Subchapter V trustee and will seek reimbursement for work-related
expenses incurred.

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

The Subchapter V trustee can be reached at:

     Michael Colvard
     Weston Centre
     112 East Pecan St., Ste. 1616
     San Antonio, TX 78205
     Email: mcolvard@mdtlaw.com
     Telephone: (210) 220-1334

                         About Toan Nguyen

Toan Nguyen, LLC, doing business as Cali Nails & Spa, sought
protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr.
W.D. Tex. Case No. 24-50743) on April 30, 2024, with up to $50,000
in assets and up to $1 million in liabilities.

Judge Craig A. Gargotta presides over the case.

Brandon John Tittle, Esq., at Tittle Law Group, PLLC represents the
Debtor as legal counsel.


TOWNSQUARE MEDIA: Moody's Affirms 'B2' CFR, Outlook Stable
----------------------------------------------------------
Moody's Ratings affirmed Townsquare Media, Inc.'s B2 Corporate
Family Rating, B2-PD Probability of Default Rating and B2 rating on
the senior secured notes. Concurrently, the Speculative Grade
Liquidity (SGL) rating was changed to SGL-2 from SGL-3. The outlook
is stable.

The affirmation of the B2 CFR and stable outlook reflects
Townsquare's stable operating performance and credit metrics,
despite weakened radio broadcast advertising, as the company
continues to expand its digital revenue which accounts for 51% of
revenue as of LTM Q1 2024. Moody's adjusted financial leverage is
expected to marginally improve to 4.8x in 2024 from 4.9x in 2023
driven by voluntary debt repayment. Moody's expects Townsquare is
better positioned compared to its radio broadcast peers due to the
strong digital segments and markets focused outside the top 50
markets in the US

"Townsquare is well-positioned to maintain stable credit metrics
despite ongoing negative secular pressures in radio broadcast due
to its growing digital revenue and voluntary debt repayment using
free cash flow." said Alison Chisuhl Jung, a Moody's VP-Senior
Analyst. "We expect leverage to be sustained in the high-4x in
2024."

RATINGS RATIONALE

Townsquare Media, Inc.'s (Townsquare) B2 CFR reflects the company's
modest scale, moderate financial leverage, operations in a cyclical
industry with negative secular pressures and intense competition in
the digital space. This is counterbalanced by Townsquare's leading
positions in its markets, growing digital presence and good free
cash flow generation. Like other radio companies, the company has
been adversely impacted by the weakened radio broadcast
advertising, heightened competition for listeners from various
digital music providers and the shift of advertising dollars to
digital and social media. Nevertheless, Townsquare was able to
mitigate the macroeconomic and secular pressures through its
expanding digital revenue which accounts for 51% of revenue as of
LTM Q1 2024. Townsquare has been focused on growing local
advertising revenue in small to mid-sized markets, which face less
competition from traditional media outlets, and continuing to
diversify its revenue stream with digital product offerings.

Moody's projects revenue to contract by low single digit percentage
and EBITDA margin to remain in the 22% range in 2024 resulting from
headwinds in its digital marketing solutions (Townsquare
Interactive) and national advertising offset by modest growth in
digital advertising (Townsquare Ignite) and political ad dollars.
Moody's adjusted debt to EBITDA (excluding Moody's standard lease
adjustments) is expected reach 4.8x in 2024, similar to 4.9x in
2023, due to voluntary debt repurchases utilizing free cash flow.
Townsquare Interactive, which accounts for 18% of total revenue,
faced challenges related to significant subscriber losses (~6,650)
in 2023 driven by internal customer service turnover and the
closure of small and medium-sized businesses (SMBs) that could not
withstand high inflation. Moody's expects the digital marketing
solutions to normalize and return to growth in 2025. Townsquare's
revenue and EBITDA are above pre-pandemic levels and Moody's
expects the company will outperform the overall industry going
forward due to the strong digital segments and small market focus.

The SGL-2 reflects Moody's expectation that Townsquare will
maintain good liquidity over the next 12-18 months supported by
$57.1 million of cash (including restricted cash of $0.5 million)
as of March 2024 and annual free cash flow after dividend payout of
$30-$40 million. The absence of a revolving credit facility limits
the company's financial flexibility during economic uncertainties;
however, the company's cash needs are modest and predictable
relative to internally generated cash flow. Townsquare's cash needs
consist of approximately $15-$16 million of CAPEX, working capital
use, interest expense of $35 million with potential to decrease
further based on debt repurchases and annual dividends of about
$13-$14 million. The company will not be a full taxpayer in the
near term given significant federal net operating losses. Moody's
expects free cash flow will be used for debt repayment, although
additional acquisitions or equity buybacks are also possible. There
is $43.4 million of capacity left in the 3-year share repurchase
program of up to $50 million approved in December 2021.

Townsquare is not subject to financial maintenance covenants as the
6.875% senior secured notes due February 2026 are the only class of
debt outstanding and there are no maintenance covenants applicable
to the notes.

The B2 rating on the senior secured notes due February 2026
reflects the probability of default of the company, as reflected in
the B2-PD probability of default rating and an average expected
family recovery rate of 50% at default given the single class of
debt and the covenant lite structure.

The stable outlook reflects Moody's expectation for continued
digital revenue growth, offset by more challenging conditions in
radio advertising due to high inflation and slow economic growth.
Moody's expects leverage to be sustained in the mid to high-4x
driven by EBITDA growth and additional debt repayment, although a
persistent high interest rate environment elevates potential
volatility in operating performance.

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

The rating could be upgraded if Townsquare demonstrates organic
revenue growth and expanding EBITDA margins leading to Moody's
adjusted financial leverage sustained below 4x and FCF to debt
ratio of over 10%. In addition, Moody's would need confidence that
the financial policies will be consistent with a higher rating
level.

The rating could be downgraded if Townsquare's financial leverage
is sustained above 6x, FCF to debt ratio is below 5% or liquidity
deteriorates resulting from underperformance, audience and
advertising revenue migration to competing media platforms, or
ongoing economic weakness.

Founded in 2010, Townsquare Media, Inc. represents an acquisition
roll up of small to medium-sized market stations. The company owns
and operates 349 radio stations with corresponding websites and
applications in 74 small to mid-sized markets. The company
generates revenue through performance of digital marketing
solutions, placement of internet-based advertising campaigns,
broadcast of commercials on owned and operated radio stations, and
the operation of live events. Digital services which include
Townsquare Interactive and Townsquare Ignite represent over 50% of
total revenue. Townsquare is a publicly traded company listed on
the New York Stock Exchange (TSQ). Net revenue for the last twelve
months ending March 2024 was $451 million.

The principal methodology used in these ratings was Media published
in June 2021.


TST BEVERAGES: Court OKs Bid Rules for Sale of Assets
-----------------------------------------------------
TST Beverages, LLC received approval from the U.S. Bankruptcy Court
for the District of New Jersey to solicit bids in connection with
the sale of its assets.

The assets up for sale include the company's plenary retail
distribution, liquor license no. 1340-44-028-006; and inventory,
equipment, and trade fixtures.

TST, through A.J. Willner Auctions, will conduct separate auctions
for the assets.

For the liquor license, the company will hold a live, on-site
auction. Bidders will be required to tender a $50,000 cashier's
check and sign an asset purchase agreement as a condition precedent
to registering for and participating in the auction.

The auction for the liquor license will commence on June 4, at
11:00 a.m., with registration beginning at 10:30 a.m. The auction
will take place at the company's previous store located at 200
Monmouth St., Red Bank, N.J.

Meanwhile, TST will hold an online auction for its inventory,
equipment and trade fixtures, which will be offered in individual
lots. The highest method of sale will be the successful bidder.
Moreover, the terms of sale will include a buyer's premium of 15%.

The online auction will begin to close at 11:00 a.m., on June 6.

A court hearing to approve the results of the auction is scheduled
for June 10. Objections are due by June 7.

                        About TST Beverages

TST Beverages, LLC owns and operates a liquor store in Red Bank,
N.J. It conducts business under the name Bottles by Sickles.

TST Beverages filed its voluntary petition for relief under Chapter
11 of the Bankruptcy Code (Bankr. D.N.J. Case No. 24-14130) on
April 23, 2024, listing $549,388 in assets and $5,261,746 in
liabilities.

Judge Christine M. Gravelle oversees the case.

Andrew J. Kelly, Esq., at The Kelley Firm, P.C. represents the
Debtor as counsel.


TURNING POINTS: Richard Furtek Named Subchapter V Trustee
---------------------------------------------------------
The U.S. Trustee for Regions 3 and 9 appointed Richard Furtek of
Furtek & Associates, LLC as Subchapter V trustee for Turning Points
for Children and affiliates.

Mr. Furtek will be paid an hourly fee of $325 for his services as
Subchapter V trustee and will be reimbursed for work-related
expenses incurred.  

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

The Subchapter V trustee can be reached at:

     Richard E. Furtek
     Furtek & Associates, LLC
     Lindenwood Corporate Center
     101 Lindenwood Drive, Suite 225
     Malvern, PA 19355
     Phone: (215) 768-8030
     Email: rfurtek@furtekassociates.com

                About Turning Points for Children

Turning Points for Children, a subsidiary of Public Health
Management Corporation, provides a range of social and health
services to support children, caregivers, and families. Its mission
is to nurture families with children who are struggling against
economic and environmental odds.

The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. E.D. Pa. Case No. 24-11479) on May 1, 2024.
In the petition signed by David R. Fair, executive director, the
Debtor disclosed $34,373,426 in assets and $6,400,954 in
liabilities.

Judge Ashely M. Chan oversees the case.

Aris J. Karalis, Esq., at Karalis PC, represents the Debtor as
legal counsel.


UNCONDITIONAL LOVE: Unsecureds Owed $78M to Get 0.46% of Claims
---------------------------------------------------------------
Unconditional Love Inc., et al., submitted a Combined Disclosure
Statement and Chapter 11 Plan.

At the conclusion of the Debtors' sale and marketing process, and
in accordance with the Bidding Procedures, the Debtors designated
the Stalking Horse Bidder, Bucky Acquisition Holdco, LLC, as the
Successful Bidder for the purchase of the Debtors' business. The
sale to the Successful Bidder was approved pursuant to a duly
entered Bankruptcy Court Order on December 11, 2023. The Sale
closed on Dec. 19, 2023.

The sale price was sufficient to pay the Debtors' Prepetition
Senior Secured Debt and the Bankruptcy Court approved DIP Financing
in full. The Debtors' junior Secured Creditor, VMG, holds secured
Claims of not less than $30 million in principal amount as of the
Petition Date, and has asserted a lien on Assets that would
otherwise be available for distribution to the Debtors' unsecured
Creditors. Through negotiations with the Debtors, the Committee,
36th Street Capital, one of the Debtors' Equipment Lessors, and
SCG, another one of the Debtors' Equipment Lessors (both of whom
have subordination agreements with VMG) in accordance with the
provisions of the 9019 Settlement Agreement and the Prepetition
Subordinated Notes Documents as applicable, (i) VMG will receive
(a) $5 million of its Prepetition Subordinated Notes Claims as an
Allowed General Unsecured Claim (the "VMG General Unsecured Claim")
and (b) on account of the balance of its Prepetition Subordinated
Notes Claims an amount it would have received had such Claims been
converted into Interests in the Debtors, which will be treated as
an Allowed Class 6 Interest in the amount of $30 million; (ii) SCG
will receive on account of its subordination agreement rights any
payment or other distribution of any kind or character from the
Debtors' Estates in respect of the VMG General Unsecured Claim;
(iii) VMG and the Debtors' Current Directors and Officers are
released in each case, as provided for in the Plan; and (iv) 36th
Street Capital will receive on account of its subordination
agreement (a) an Allowed Administrative Claim equal to 37.5% of the
36th Street Capital Claim and (b) the balance of the 36th Street
Capital Claim will be an Allowed General Unsecured Claim. As a
result, the remaining cash and other Assets held by the Estate will
be available for distribution to the Debtors' unsecured Creditors.
This agreement is memorialized in the 9019 Settlement Agreement
incorporated into the Plan and attached hereto as Exhibit B.

If the currently available cash were to be distributed to Holders
of Allowed General Unsecured Claims, as reflected in the
Liquidation Analysis, a 0.46% dividend would be provided to Holders
of Allowed General Unsecured Claims. That projected distribution
may increase if the Litigation Trust obtains additional recoveries
based on the transferred Assets and Retained Causes of Action.

Under the Plan, Class 3: General Unsecured Claims totaling
$77,500,000. Each Holder of a General Unsecured Claim will receive
such holder's pro rata share of the liquidated value of the
Litigation Trust Assets. Class 3 is impaired.

   "Litigation Trust Assets" will consist of the following: (i) all
remaining Assets of each of the Debtors that have not been sold or
abandoned before the Effective Date following payment of (or
establishment of appropriate reserves for) all Allowed Priority
Non-Tax Claims, Allowed Priority Tax Claims, Allowed Other Secured
Claims, Allowed
Administrative Claims, Professional Fee Claims, and U.S. Trustee
Fees; (ii) all Retained Causes of Action, including the proceeds
related thereto; and (iii) the Remaining Professional Budget.

The Confirmation Hearing has been scheduled for June 18, 2024 at
10:30 a.m. (prevailing Eastern Time) at the Bankruptcy Court, 824
North Market Street, 5th Floor, Delaware 19801.

Any objection to final approval of the combined Disclosure
Statement and Plan will be filed and served by no later than June
8, 2024 at\ 4:00 p.m. (prevailing Eastern Time)

Attorneys for the Debtors:

     Edmon L. Morton, Esq.
     Matthew B. Lunn, Esq.
     Carol E. Cox, Esq.
     YOUNG CONAWAY STARGATT &
     TAYLOR, LLP
     Rodney Square
     1000 North King Street
     Wilmington, DE 19801
     Tel: (302) 571-6600
     Fax: (302) 571-1253
     E-mail: emorton@ycst.com
             mlunn@ycst.com
             ccox@ycst.com

          -and-


     Brian S. Lennon, Esq.
     Debra M. Sinclair, Esq.
     Erin C. Ryan, Esq.
     Jessica D. Graber, Esq.
     WILLKIE FARR & GALLAGHER LLP
     787 Seventh Avenue
     New York, NY 10019
     Tel: (212) 728-8000
     Fax: (212) 728-8111
     E-mail: blennon@willkie.com
             dsinclair@willkie.com
             eryan@willkie.com
             jgraber@willkie.com

A copy of the Combined Disclosure Statement and Chapter 11 Plan
dated May 8, 2024, is available at https://tinyurl.ph/AIrBU from
PacerMonitor.com.

                   About Unconditional Love

Founded in February 2019, Hello Bello is a retailer of baby
necessities, selling products made with plant-based ingredients and
organic botanicals across the baby, family, and wellness markets.
The Company is headquartered in Los Angeles, California, with
manufacturing plants located in the United States, Mexico, Canada,
and China.

On Oct. 23, 2023, Unconditional Love Inc. and its affiliate filed
voluntary petitions for relief under Chapter 11 of the Bankruptcy
Code (Bankr. D. Del. Lead Case No. 23-11759). The Debtors listed
$100 million to $500 million in estimated assets and liabilities.
The petitions were signed by Erica Buxton as chief executive
officer.

The Hon. Mary F. Walrath presides over the cases.

The Debtors tapped Young Stargatt & Taylor as Delaware bankruptcy
counsels.  Willkie Farr & Gallagher LLP is the Debtors' general
bankruptcy counsel.  Emerald Capital Advisors Corp. is the Debtors'
restructuring advisor.  Jefferies LLC is the Debtors' investment
banker. Stretto, Inc., is the Debtors' notice, claims,
solicitation
and balloting agent.

The U.S. Trustee for Regions 3 and 9 appointed an official
committee to represent unsecured creditors.  The Committee tapped
Pachulski Stang Ziehl & Jones LLP and Hogan Lovells US LLP as
counsel, and Force Ten Partners, LLC, as financial advisor.


UPTOWN 240: Creditors to Get Proceeds From Liquidation
------------------------------------------------------
Uptown 240, LLC, filed with the U.S. Bankruptcy Court for the
District of Colorado a Disclosure Statement to accompany Plan of
Liquidation.

Uptown was formed in 2017 by IGADC Family Corporation and Danilo
and Chantelle Ottoborgo. Prior to the formation of Uptown, the
Ottoborgo family owned the real property and operated a restaurant
on the location.

Starting as early as 2012, the Ottoborgos began the process of
redeveloping the property, and when Uptown was formed in 2017,
IDGAC contributed the real property to Uptown for the redevelopment
of the Property.

After approval of site plans, Uptown broke ground on the
construction of the current construction project in 2018. Through
early 2020, Uptown worked to develop the project, at had completed
all of the underlying infrastructure and a majority of the
horizontal construction before construction halted in early 2020,
including completion of all infrastructure, a majority of the
parking garage, and the concrete foundation work. The Debtor
estimates that the project is approximately 35% complete.

In 2020, a mechanics lien holder asserting an interest against the
property commenced an action to proceed with a foreclosure on the
Property, resulting in further litigation over the nature, extent,
validity, and priority of liens against the Property. The
litigation was stayed continuously by agreement of the parties, and
all parties had only just filed their respective answers when the
Debtor's bankruptcy case was filed. The litigation was stayed as a
result of the Debtor's bankruptcy filing.

The Debtor engaged Hilco Real Estate, LLC to act a broker with
respect to the Property. Following Hilco's engagement, the Debtor
ran an extensive sale process and ultimately selected JGJP Dillon,
LLC as the highest and best offer. On November 23, 2023, the Debtor
filed its Motion for Entry of Order: 1) Approving Contract of Sale
By and Between Debtor and JGJP Dillon, LLC; 2) Authorizing Sale of
Assets Free and Clear of Liens, Claims, and Encumbrances Pursuant
to 11 U.S.C. §§ 363(b), (f), and (m); 3) Authorizing the Payment
of Certain Items at Closing; and 4) Granting Related Relief ("Sale
Motion"), which was granted by the Court on February 5, 2024, and
the sale to JGJP closed on February 26, 2024.

As a result of the sale, the secured claims of creditors were
satisfied, and the only remaining claims against the estate are
administrative and professional fee claims and general unsecured
claims.

A majority of the Debtor's assets were sold or released a as a
result of the sale to JGJP. Similarly, the real property was sold
to JGJP in accordance with the Sale Motion, resulting in a carveout
for unsecured creditors and administrative expense claimants. The
remaining assets of the debtor are comprised of funds in its
account in the amount of approximately $60,000 and any litigation
claims it may have against Fairchild or any Avoidance Actions that
may exist.

Class 1 is generally comprised of the unsecured claims against the
Debtor's estate. The total unsecured claims against the estate are
approximately $10,552,244.28, which amount includes disputed
Claims. The Debtor has identified objections to the claims filed by
Air-Tel, LLC, who filed a proof of claim in the amount of
$4,827,000 based on a lease for the installation of telecom
equipment for which the Debtor was proposed to be the landlord, and
to 323 Dillon, LLC, who filed a proof of claim in the amount of
$768,320 for the total purchase price of a unit despite having only
paid a $33,000 deposit. Assuming the Debtor prevails on two claim
objections it has already identified, the Debtor anticipates the
Class 1 Claims will be reduced by $5,562,320.00, resulting in
unsecured claims in the amount of $4,989,924.28.

On the Effective Date of the Plan, all Class 1 Creditors will
receive a beneficial interest in the Creditor Trust in exchange for
their claims. The Creditor Trust shall be responsible for making
all distributions to allowed claims, including any distributions
from the Unsecured Creditor Carveout and any funds recovered from
Avoidance Actions or Causes of Action. Holders of Class 1 Allowed
Claims shall receive a pro rata distribution of funds from the
Creditor Trust in accordance with their beneficiary interest in the
Creditor Trust. If no funds are recovered on account of Avoidance
Actions or Causes of Actions, unsecured creditors will receive
approximately 1.5% on account of their allowed claims, which may
vary depending on the final amount of allowed claims.

On the Effective Date of the Plan, the Equity Interests in the
Debtor were owned by IGADC Family Corporation, that holds 80% of
the Debtor's equity interests, and MNJ Consulting by Design, Inc.,
that holds 20% of the Debtor's equity interests. Danilo and
Chantelle Ottoborgo, the President and Executive Vice President of
the Debtor respectively, do not have an equity interest in the
Debtor directly, but do hold an interest in IGADC.

The Debtor has proposed a Plan of Liquidation that allows for the
distribution of funds to creditors through the formation of a
liquidating trust. The Plan as proposed is feasible, as all assets
have been liquidated and are held in either counsel's trust account
or the DIP Account.

A full-text copy of the Disclosure Statement dated May 9, 2024 is
available at https://urlcurt.com/u?l=RJRQKX from PacerMonitor.com
at no charge.

Counsel to the Debtor:

     Keri L. Riley, Esq.
     KUTNER BRINEN DICKEY RILEY, P.C.
     1660 Lincoln St., Suite 1720
     Denver, CO 80264
     Tel: (303) 832-2400
     E-mail: klr@kutnerlaw.com

                        About Uptown 240

Uptown 240, LLC, owns and operates a condominium complex in Dillon,
Colo. The residences are an exclusive collection of 80-luxury
mountain and lakeview condominiums.

Uptown 240 filed its voluntary petition for relief under Chapter11
of the Bankruptcy Code (Bankr. D. Colo. Case No. 23-10617) on Feb.
23, 2023, with $10 million to $50 million in both assets and
liabilities. Danilo A. Ottoborgo, president of Uptown 240, signed
the petition.

Judge Thomas B. Mcnamara presides over the case.

The Debtor tapped Keri L. Riley, Esq., at Kutner Brinen Dickey
Riley, PC, as legal counsel and Eide Bailly, LLP as accountant.

On April 21, 2023, the Office of the U.S. Trustee appointed an
official committee of unsecured creditors in the Chapter 11 case.
Onsager Fletcher Johnson Palmer, LLC, serves as the committee's
counsel.


VENUS LIQUIDATION: Court Approves Disclosures and Confirms Plan
---------------------------------------------------------------
Judge John P. Mastando III has entered an order approving the
Disclosure Statement of Venus Liquidation Inc., et al.

The Plan and each of its provisions are approved, as modified
herein, and confirmed under Section 1129 of the Bankruptcy Code.

Any objections that have not been consensually resolved or
withdrawn are overruled on the merits pursuant to this Confirmation
Order.

The implementation of the Plan pursuant to Section 5 of the Plan
and the Plan Supplement is approved. The Plan Administrator will
have authority and right to carry out and implement all provisions
of the Plan as is provided in Section 5 of the Plan and the Plan
Administrator Agreement.

Article III of the Plan specifies that Classes 1 (Secured Tax
Claims), 2 (Other Secured Claims), and 3 (Other Priority Claims)
are Unimpaired under the Plan, thereby satisfying Section
1123(a)(2) of the Bankruptcy Code.

Article III of the Plan specifies the treatment of Claims and
Interests in Class 4 (Prepetition Senior Secured Credit Agreement
Claims); Class 5 (JPM Overdraft Facility Claims); Class 6 (Senior
Subordinated Notes Claims); Class 7 (Pulse Notes Claims; Class 8
(General Unsecured Claims); and Class 9 (Interests) as Impaired
under Plan thereby satisfying Section 1123(a)(3) of the Bankruptcy
Code.

The Plan provides for the distribution to creditors of the proceeds
of the sale of substantially all of the Debtors' assets to the
Purchasers pursuant to the Asset Purchase Agreement and the Sale
Order. Thus, the Plan complies with Section 1123(b)(4) of the
Bankruptcy Code.

In accordance and compliance with Section 1123(b)(5) of the
Bankruptcy Code, the Plan properly modifies the rights of Holders
of Claims and Interests in Class 4 (Prepetition Senior Secured
Credit Agreement Claims); Class 5 (JPM Overdraft Facility Claims);
Class 6 (Senior Subordinated Notes Claims); Class 7 (Pulse Notes
Claims); Class 8 (General Unsecured Claims); and Class 9
(Interests). The Plan also leaves unaffected the rights of Holders
of Claims in Classes 1 (Secured Tax Claims), 2 (Other Secured
Claims), and 3 (Other Priority Claims).

Classes 1 (Secured Tax Claims), 2 (Other Secured Claims), and 3
(Other Priority Claims) are Unimpaired under the Plan and are
deemed to have accepted the Plan pursuant to Section 1126(f) of the
Bankruptcy Code. Class 4 (Prepetition Senior Secured Credit
Agreement Claims) and Class 8 (General Unsecured Claims) are
Impaired under the Plan and have voted to accept the Plan in
accordance with Section 1126(c) of the Bankruptcy Code. Holders of
Claims in Classes 5, 6 and 7 were provided Ballots and have either
voted to reject the Plan (Class 6) or did not submit votes on the
Plan (Classes 5 and 7). Holders of Claims in Class 9 will not
receive a distribution under the Plan, so such Class is deemed to
reject the Plan. As set forth below, the Plan is a confirmable plan
because it satisfies the provisions of Section 1129(b) of the
Bankruptcy Code with respect to these non-accepting Classes.

Class 4 (Prepetition Senior Secured Credit Agreement Claims); Class
8 (General Unsecured Claims) are Impaired under the Plan and each
voted to accept the Plan by the requisite majorities, determined
without including any acceptance of the Plan by any insider,
thereby satisfying the requirements of Section 1129(a)(10) of the
Bankruptcy Code. Class 5 (JPM Overdraft Facility Claims) are Class
7 (Pulse Notes Claims) have not voted but are deemed to have
accepted the Plan for purposes of Section 1129(a)(10) of the
Bankruptcy Code.

A copy of the Order dated May 8, 2024, is available at
https://tinyurl.ph/WrvdF from PacerMonitor.com.


VIEW INC: Objectors Say Third-Party Release is Fatally Flowed
-------------------------------------------------------------
Lead Plaintiff Stadium Capital LLC, on behalf of itself and a class
of similarly situated investors (the "Lead Plaintiff") and
plaintiff David Sherman (collectively, the "Plaintiffs") in the
securities class action submit this objection to (i) confirmation
of the Joint Prepackaged Chapter 11 Plan of Reorganization of View,
Inc., and its Debtor Affiliates and (ii) final approval of (a) the
Disclosure Statement for the Joint Prepackaged Chapter 11 Plan of
Reorganization of View, Inc. and its Debtor Affiliates; and (b)
Solicitation Procedures Motion. In support of this Objection,
Plaintiffs respectfully state as follows:

   The Debtors commenced these Chapter 11 Cases for the purpose of
confirming, on an extremely expedited basis, a prepackaged Plan
that proposes to eviscerate a vast array of claims and causes of
action that third parties may have not only against the Debtors,
but also against a slew of non-debtor third parties. The provisions
in the Plan releasing and permanently enjoining Plaintiffs' claims
and the claims of the putative Class they represent in the
Securities Litigation do not pass muster under the stringent
standards for the granting of nonconsensual third-party releases.

   The Third-Party Release, extraordinary relief under any
circumstance, is fatally flawed, particularly with respect to the
Securities Litigation Claims. The Plan generally violates the due
process rights of the Plaintiffs and Class members by effectuating
a nonconsensual Third-Party Release (for no consideration) with
respect to federal securities law claims and causes of action
against non-Debtors that are not adequately disclosed in the
Disclosure Statement, Plan, or any Plan solicitation materials.
Plaintiffs and Class members are not receiving any distribution
under the Plan, are deemed to reject the Plan, and are not entitled
to vote on the Plan. In a draconian display of targeted inequity
(even as compared to other Holders of Class 8 Interests), those
asserting securities litigation claims against the Debtors and
non-debtor parties were not solicited in any way and are the only
stakeholders in the Chapter 11 Cases that are expressly prohibited
from opting out of the Third-Party Release.

   Under those circumstances, it is particularly inequitable and
improper for the Debtors to impose the completely gratuitous
release of the Securities Litigation Claims not only against View,
but also against the Non-Debtor Defendants – including solvent
and insured third parties. Indeed, stripping Plaintiffs and Class
members of their claims against non-debtor third parties eliminates
their only opportunity for any recovery for their significant
losses.

   The Plan should not be confirmed (and, as applicable, the
Disclosure Statement and Solicitation Motion not approved on a
final basis) unless the Third-Party Releases and Plan Injunction
expressly exclude the Securities Litigation Claims of the
Plaintiffs and Class against the Non-Debtor Defendants and any
other non-debtor subsequently named as a defendant. Absent such a
carve-out and the additional relief, confirmation should be
denied.

Bankruptcy Counsel to the Securities
Litigation Plaintiffs:

     Christopher P. Simon, Esq.
     CROSS & SIMON, LLC
     1105 North Market Street, Suite 901
     Wilmington, DE 19801
     Tel: (302) 777-4200
     Fax: (302) 777-4224
     E-mail: csimon@crosslaw.com

          -and-
     
     Michael S. Etkin, Esq.
     Nicole Fulfree, Esq.
     LOWENSTEIN SANDLER LLP
     One Lowenstein Drive
     Roseland, NJ 07068
     Tel: (973) 597-2500
     E-mail: metkin@lowenstein.com
             nfulfree@lowenstein.com

          -and-

     Ali A. Ismail, Esq.
     1251 Avenue of the Americas
     New York, NY 10020
     Tel: (212) 262-6700
     E-mail: aismail@lowenstein.com

Lead Counsel for Lead Plaintiff Stadium Capital
LLC, Plaintiff David Sherman and the Proposed
Class:

     KAPLAN FOX & KILSHEIMER LLP

     Laurence D. King, Esq.
     Blair E. Reed, Esq.
     1999 Harrison Street, Suite 1560
     Oakland, CA 94612
     Tel: 415-772-4700
     Fax: 415-772-4707
     E-mail: lking@kaplanfox.com
             breed@kaplanfox.com

          -and-

     Frederic S. Fox, Esq.
     Donald R. Hall, Esq.
     Jason A. Uris, Esq.
     800 Third Avenue, 38th Floor
     New York, NY 10022
     Tel: 212-687-1980
     E-mail: ffox@kaplanfox.com
             dhall@kaplanfox.com
             juris@kaplanfox.com

A copy of the Objection Case dated May 8, 2024, is available at
https://tinyurl.ph/LBEOc from PacerMonitor.com.

              About View Inc.

View Inc. provides smart building technologies that transform
buildings to improve human health and experience, reduce energy
consumption, and generate additional revenue for building owners.
View Smart Windows automatically adjust in response to the sun,
eliminating the need for blinds and increasing access to natural
light. View Smart Windows are installed and designed into 50
million square feet of buildings including offices, hospitals,
airports, educational facilities, hotels, and multifamily
residences. View Smart Building Cloud connects, manages and
optimizes a portfolio of smart buildings with cybersecurity
solutions. View Smart Building Cloud enables digitalization of over
100 million square feet of real estate. On the Web:
http://www.view.com/   

View Inc. sought relief under Chapter 11 of the U.S. Bankruptcy
Code (Bankr. D. Del. Case No. 24-10692) on April 2, 2024. In the
petition signed by William T. Krause, as chief legal officer, the
Debtor reports estimated assets and liabilities between $100
million and $500 million.

The Company disclosed total assets of $291,438,000 against total
debt of $359,376,000 as of Sept. 30, 2023.

Cole Schotz, P.C. serves as legal advisor and SOLIC Capital serves
as financial advisor to View. Kroll Restructuring Administration
LLC is the claims and balloting agent.

Sidley Austin LLP serves as legal advisor to Cantor Fitzgerald.
Gibson, Dunn & Crutcher LLP serves as legal advisor to RXR.


VOLUME INDUSTRIES: Unsecureds get Share of Plan Distribution Fund
-----------------------------------------------------------------
Volume Industries LLC submitted a Subchapter V 11 Plan of
Liquidation.

Initially intending to restructure, the Debtor, reduced expenses
and focused on the most profitable operations, the printing
sector.

Under the Plan, Class 5 will consist of the Allowed General
Unsecured Claims. Each holder of an Allowed General Unsecured Claim
will receive a pro rata portion of the Plan Distribution Fund, if
any, in an amount to be determined. Class 5 Claims are impaired.

The Plan will be financed from the Debtor's cash, potential
proceeds of the sale of the Debtor's personal property and
collections on accounts receivable.

Attorneys for the Debtor:

     Dawn Kirby, Esq.
     KIRBY AISNER & CURLEY LLP
     700 Post Road, Suite 237
     Scarsdale, NY 10583
     Tel: (914) 401-9500
     E-mail: dkirby@kacllp.com

A copy of the Plan of Liquidation dated May 8, 2024, is available
at https://tinyurl.ph/nJrTQ from PacerMonitor.com.

              About Volume Industries LLC

Volume Industries LLC offers technical design, fabrication,
millwork, project management, logistics and installation, and
digital imaging services.

The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. S.D.N.Y. Case No. 24-22094) on February 1,
2024. In the petition signed by James Wegner, president, the Debtor
disclosed $4,408,377 in assets and $4,901,380 in liabilities.

Judge Sean H. Lane oversees the case.

The Debtor tapped Dawn Kirby, Esq., at Kirby Aisner & Curley LLP as
legal counsel and Nat Wasserstein at Lindenwood Associates, LLC as
financial advisor.


VOYAGER DIGITAL: Stretto Inc. Data Breach Affects Creditors
-----------------------------------------------------------
Randi Love of Bloomberg Law reports that collapsed crypto exchange
Voyager Digital Holdings Inc. was one of the firms impacted by a
data breach of a legal services provider that exposed some customer
information.

The attack on Stretto Inc., which hit Celsius Network LLC customers
as well, is the latest in a string of breaches targeting customers
of failed and bankrupt crypto platforms. Business and legal
services provider Kroll was hacked last year as well.

Stretto said it's been working to determine the scope of the April
17 incident, Voyager’s bankruptcy plan administrator, Paul Hage,
said in a Wednesday, May 15, 2024, filing in the US Bankruptcy
Court for the Southern District of New York.

                 About Voyager Digital Holdings

Based in Toronto, Canada, Voyager Digital Holdings Inc. --
https://www.investvoyager.com/ -- ran a cryptocurrency platform.
Voyager claimed to offer a secure way to trade over 100 different
crypto assets using its easy-to-use mobile application. Through its
subsidiary Coinify ApS, Voyager provided crypto payment solutions
for both consumers and merchants around the globe.

Voyager Digital Holdings Inc. and two affiliates sought protection
under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Lead
Case No. 22-10943) on July 5, 2022. In the petition filed by
Stephen Ehrlich, chief executive officer, the Debtors estimated
assets and liabilities between $1 billion and $10 billion.

Judge Michael E. Wiles oversees the cases.

The Debtors tapped Kirkland & Ellis, LLP as general bankruptcy
counsel; Berkeley Research Group, LLC, as financial advisor; Moelis
& Company as investment banker; Consello Group as strategic
financial advisor; Deloitte Tax, LLP as tax services provider; and
Deloitte & Touche, LLP, as accounting advisor. Stretto, Inc., is
the claims agent.

On July 19, 2022, the U.S. Trustee for Region 2 appointed an
official committee of unsecured creditors in the Chapter 11 cases.
The committee tapped McDermott Will & Emery, LLP as bankruptcy
counsel; FTI Consulting, Inc., as financial advisor; Cassels Brock
& Blackwell, LLP as Canadian counsel; and Epiq Corporate
Restructuring, LLC, as noticing and information agent.

The committee also tapped the services of Harney Westwood &
Riegels, LP, in connection with Three Arrows Capital Ltd.'s
liquidation proceedings in British Virgin Islands.

On July 6, 2022, the Debtors filed a joint Chapter 11 plan of
reorganization.

                           *    *    *

Following an auction process, the Debtors in September 2022
selected the bid submitted by FTX US' West Realm Shires Inc. as the
winning bid for the assets. But after a series of events, FTX
collapsed in November 2022, before the sale could be completed.
After reopening bidding, Voyager Digital selected the offer from
U.S. exchange BAM Trading Services Inc. (doing business as
"Binance.US") as the highest and best bid for its assets. Binance's
bid is valued at $1.022 billion.

In April 2023, Binance.US called off its deal to buy assets of
bankrupt crypto lender Voyager Digital, citing a "hostile and
uncertain regulatory climate."




WHAIRHOUSE LIMITED: Trustee Seeks OK to Sell Paterson Property
--------------------------------------------------------------
Mark Politan, the Chapter 11 trustee for Taylor Court Apartments,
LLC, asked the U.S. Bankruptcy Court for the District of New Jersey
to approve the sale of the company's real property to Lati
Properties, LLC.

Taylor, an affiliate of Whairhouse Limited Liability Company, is
the record owner of the property located at 555-563 Main St.,
Paterson, N.J.

Lati offered $1.95 million for the property, which is being sold
"free and clear" of liens, claims and encumbrances, according to
its sale contract with the company.

The contract does not contemplate any contingencies as all have
been previously satisfied.

The sale is subject to higher and better offers. The initial
overbid must be $2.05 million and bids thereafter must be in
increments of $10,000.

Subject to court approval, Lati is entitled to receive expense
reimbursement of up to $50,000 in the event it is not selected as
the winning bidder or ultimate purchaser of the property.

A court hearing to approve the sale is scheduled for June 11.

                  About Whairhouse LLC and Taylor
                         Court Apartments

Taylor Court Apartments, LLC filed a voluntary petition for relief
under Chapter 11 of the Bankruptcy Code (Bankr. D. N.J. Case No.
23-16641) on August 2, 2023, with $1 million to $10 million in both
assets and liabilities.

On August 4, 2023, Whairhouse Real Estate Investments, LLC filed a
voluntary Chapter 11 petition (Bankr. D. N.J. Case No. 23-16723),
with $1 million to $10 million in both assets and liabilities.

On August 22, 2023, an involuntary petition was filed against
Whairhouse Limited Liability Company by RG3, LLC and eight other
creditors (Bankr. D.N.J. Case No. 23-17272). The creditors are
represented by Sean Mack, Esq., at Pashman Stein Walder Hayden,
PC.

Judge Rosemary Gambardella oversees the cases.

Mark Politan was appointed the Chapter 11 trustee on October 16,
2023. The trustee is represented by McManimon, Scotland & Baumann,
LLC.

On April 19, 2024, the court ordered the joint administration of
the cases of Whairhouse LLC and Taylor under Case No. 23-17272, and
on April 23, 2024, ordered the dismissal of Whairhouse RE's case.

Whairhouse LLC and Taylor are represented by the Law Firm of Brian
W. Hofmeister.


WHITEHEAD ESTATES: Case Summary &10 Unsecured Creditors
-------------------------------------------------------
Debtor: Whitehead Estates, LLC
        1809 Albemarle Rd
        Brooklyn, NY 11226

Business Description: Whitehead Estates owns 48 residential units
                      located at 150-180 Earle St, Hartford, CT
                      having an appraised value of $4.5 million.

Chapter 11 Petition Date: May 27, 2024

Court: United States Bankruptcy Court
       Eastern District of New York

Case No.: 24-42200

Judge: Hon. Nancy Hershey Lord

Debtor's Counsel: Fred S. Kantrow, Esq.
                  THE KANTROW LAW GROUP, PLLC
                  732 Smithtown Bypass
                  Suite 101
                  Smithtown, NY 11787
                  Tel: 516-703-3672
                  Email: fkantrow@thekantrowlawgroup.com

Total Assets: $4,450,000

Total Liabilities: $7,399,034

The petition was signed by Chrisone Anderson as managing member.

A full-text copy of the petition containing, among other items, a
list of the Debtor's 10 unsecured creditors is available for free
at PacerMonitor.com at:

https://www.pacermonitor.com/view/KAOE37A/Whitehead_Estates_LLC__nyebke-24-42200__0001.0.pdf?mcid=tGE4TAMA


WHITESTONE UPTOWN: Unsecureds be Paid in Full Over 48 Months
------------------------------------------------------------
Whitestone Uptown Tower, LLC, a/k/a Pillarstone Capital REIT
Operating Partnership, submitted a First Amended Plan of
Reorganization.

The Debtor is the owner and operator of a twelve-story, 253,000
squarefoot office tower located at 4144 North Central Expressway in
Dallas, Texas (the "Property"). Under the Plan, the Debtor will
make installment payments with interest to all creditors while it
markets the Property for sale, and once the Property is sold the
Debtor will pay all Allowed Claims in full.

Under the Plan, Class 5: Allowed General Unsecured Claims other
than Insider Claims are impaired. Class 5 Claimants will be paid in
full over 48 months from the Effective Date. Equal payments of
principal and interest at 1% per annum will commence on the first
day of the first month following the Effective Date and continue on
the first day of each month thereafter for a total of 48 months. In
the event the Reorganized Debtor sells, conveys, or transfers the
Property before the expiration of 48 months from the Effective
Date, these Claims will be paid in full at the closing of the sale
or transfer.

Attorneys for Debtor:

     Joyce W. Lindauer, Esq.
     JOYCE W. LINDAUER ATTORNEY, PLLC
     1412 Main Street, Suite 500
     Dallas, TX 75202
     Tel: (972) 503-4033
     Fax: (972) 503-4034

A copy of the Plan of Reorganization dated May 8, 2024, is
available at https://tinyurl.ph/zbgrv from PacerMonitor.com.

         About Whitestone Uptown Tower, LLC

Whitestone Uptown Tower, LLC is a Single Asset Real Estate debtor
(as defined in 11 U.S.C. Section 101(51B)).

The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. N.D. Tex. Case No. 23-32832) on December 1,
2023. In the petition signed by Bradford Johnson, authorized
representative, the Debtor disclosed up to $50 million in both
assets and liabilities.

Judge Michelle V Larson oversees the case.

Joyce Lindauer, Esq., at Joyce W. Lindauer Attorney, PLLC,
represents the Debtor as legal counsel.


WORMHOLE LABS: Unsecured Owed $27.5M Get 95% of New Equity Interest
-------------------------------------------------------------------
Wormhole Labs, Inc., submitted an Amended Disclosure Statement for
Debtor's Plan of Reorganization.

This Plan contemplates a for a reorganization of the Debtor based
on its interests in two joint ventures: Wormhole Information
Technology Systems, LLC, which owns technology and operates a
business based on vegetation management for electric utilities, and
Wormhole Tours, which owns technology relating to remote
residential real estate showings. The Plan contemplates conversion
of existing indebtedness to equity, and continued operations of the
Reorganized Debtor until the sale of such interests occurs.

Under the Plan, Class V – General Unsecured Creditors Debtor
estimates that Allowed Class IV Claims total approximately $27.5
million. Holders of Allowed General Unsecured Claims will receive
pro rata distributions representing 95% of the New Equity Interests
in the Reorganized Debtor, with each holder of an Allowed General
Unsecured Claim receiving a pro rata share of such New Equity
Interests in the Reorganized Debtor based on the percentage that
such holder's Claim bears to the Class of Allowed General Unsecured
Creditors. This Class is impaired.

Upon the occurrence of a "Triggering Event," the Reorganized Debtor
will retain an investment banking firm to market and sell the
Reorganized Debtor's interests in Wormhole Information Technology
Systems, LLC ("WITS") and Wormhole Tours ("WTI") and all remaining
property owned by the Reorganized Debtor. Following consummation of
a sale, net sale proceeds will be distributed to pay, in order (i)
any remaining payments due under the Plan, (2) any indebtedness
incurred by the Reorganized Debtor that remains then- outstanding,
and thereafter, all remaining amounts will be distributed to the
Equity Interests distributed under the Plan.

"Triggering Event" means the earlier of the following:

   (a) Wormhole's interest in WITS will be marketed for sale if (i)
WITS achieves an annualized revenue of at least $10 million or (ii)
the valuation of WITS by a 3rd party exceeds $60 million and the
net proceeds provide for 70% repayment of all outstanding amounts;

   (b) Wormhole's interest in WTI will be marketed for sale if WTI
achieves an annualized revenue of at least $5 million; and the net
proceeds provide at least 10% of all outstanding amounts

   (c) Wormhole's interest in both WITS and WTI will be marketed
for sale 24 months from the Effective Date if the conditions to
items a or b above are not triggered.

The Bankruptcy Court has entered an order fixing June 20, 2024,
2024, at 2:30 p.m. (Prevailing Central Time), Bankruptcy Courtroom
for the Hon. Shad Robinson 903 San Jacinto, Austin, Texas as the
date, time and place for the initial commencement of a hearing on
confirmation of the Plan, and fixing June 13, 2024 at 5:00 p .m.,
(Prevailing Central Time), as the time by which all objections to
confirmation of the Plan, which must be accompanied by a memorandum
of authorities, must be filed with the Bankruptcy Court and served
on counsel for the Debtor.

Attorneys for the Debtor:

     Mark C. Taylor, Esq.
     William R. "Trip" Nix, III, Esq.
     HOLLAND & KNIGHT, LLP
     100 Congress Avenue, 18th Floor
     Austin, TX 78701
     Tel: (512) 685-6400
     Fax: (512) 685-6417

A copy of the Plan of Reorganization dated May 8, 2024, is
available at https://tinyurl.ph/ytLrR from PacerMonitor.com.

                      About Wormhole Labs

Wormhole Labs develops a globally scalable new technology platform
called Wormhole. It allows people and businesses anywhere in the
world to 'teleport' to each other to interact, socialize, play, and
shop as if they are actually present and physically walking around
anywhere in the world.

Wormhole Labs, Inc. filed its voluntary petition for relief under
Chapter 11 of the Bankruptcy Code (Bankr. W.D. Tex. Case No.
23-11107) on Dec. 23, 2024, listing $1 million to $10 million in
assets and $10 million to $50 million in liabilities. The petition
was signed by Mark Mitroka as CAO and secretary.

Judge Shad Robinson presides over the case.

Mark C. Taylor, Esq. at HOLLAND & KNIGHT LLP represents the Debtor
as counsel.


WOW NOW PROPERTIES: Donna Hall Named Subchapter V Trustee
---------------------------------------------------------
The Acting U.S. Trustee for Region 4 appointed Donna Hall at
Goodman Allen Donnelly as Subchapter V trustee for Wow Now
Properties, LLC.

Ms. Hall will be paid an hourly fee of $300 for her services as
Subchapter V trustee and will be reimbursed for work-related
expenses incurred.

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

The Subchapter V trustee can be reached at:

     Donna J. Hall
     GOODMAN | ALLEN | DONNELLY
     Towne Point Center
     150 Boush Street, Suite 900
     Norfolk, Virginia 23510
     Phone: (757) 625-1400
     Email: dhall@goodmanallen.com

                     About Wow Now Properties

Wow Now Properties, LLC sought protection under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. E.D. Va. Case No. 24-70911) on April
30, 2024, with up to $500,000 in assets and up to $50,000 in
liabilities. The petition was filed pro se.


[^] Large Companies with Insolvent Balance Sheet
------------------------------------------------

                                              Total
                                             Share-      Total
                                  Total    Holders'    Working
                                 Assets      Equity    Capital
  Company          Ticker          ($MM)       ($MM)      ($MM)
  -------          ------        ------    --------    -------
99 ACQUISITION G   NNAGU US        78.5        (2.9)      (0.9)
ABEONA THERAPEUT   ABEO US         74.8        (8.9)      54.8
AEMETIS INC        AMTX US        242.2      (232.1)     (85.0)
AGENUS INC         AGEN US        256.6      (190.3)    (195.7)
ALCHEMY INVESTME   ALCYU US       122.6        (5.5)      (0.5)
ALCHEMY INVESTME   ALCY US        122.6        (5.5)      (0.5)
ALNYLAM PHARMACE   ALNY US      3,824.4      (219.3)   2,046.9
ALTRIA GROUP INC   MO US       36,475.0    (5,064.0)  (5,737.0)
AMC ENTERTAINMEN   AMC US       8,538.7    (2,031.0)    (590.0)
AMC ENTERTAINMEN   AMCE AV      8,538.7    (2,031.0)    (590.0)
AMERICAN AIRLINE   AAL US      64,384.0    (5,500.0)   (10,451)
AMNEAL PHARM INC   AMRX US      3,456.4       (16.6)     545.7
AON PLC-CLASS A    AON US      40,767.0       (28.0)   6,786.0
APPIAN CORP-A      APPN US        595.4        (9.7)      96.0
AQUESTIVE THERAP   AQST US        129.5       (36.3)      95.3
AULT DISRUPTIVE    ADRT/U US        1.0        (5.0)      (2.4)
AUTOZONE INC       AZO US      17,108.4    (4,837.3)  (1,903.1)
AVIS BUDGET GROU   CAR US      33,528.0      (508.0)    (741.0)
BATH & BODY WORK   BBWI US      5,463.0    (1,626.0)     826.0
BAUSCH HEALTH CO   BHC US      26,913.0      (174.0)     991.0
BAUSCH HEALTH CO   BHC CN      26,913.0      (174.0)     991.0
BELLRING BRANDS    BRBR US        765.0      (247.7)     340.2
BEYOND MEAT INC    BYND US        735.0      (561.4)     257.7
BIOCRYST PHARM     BCRX US        467.9      (476.9)     327.2
BIOTE CORP-A       BTMD US        160.1       (44.9)      90.3
BOEING CO/THE      BA US        134,484   (17,016.0)  13,274.0
BOMBARDIER INC-A   BBD/A CN    12,822.0    (2,154.0)     184.0
BOMBARDIER INC-A   BDRAF US    12,822.0    (2,154.0)     184.0
BOMBARDIER INC-B   BBD/B CN    12,822.0    (2,154.0)     184.0
BOMBARDIER INC-B   BDRBF US    12,822.0    (2,154.0)     184.0
BOOKING HOLDINGS   BKNG US     27,728.0    (4,052.0)   3,644.0
BRIDGEBIO PHARMA   BBIO US        849.3    (1,036.9)     641.9
BRIDGEMARQ REAL    BRE CN         181.1       (62.3)     (86.2)
BRIGHTSPHERE INV   BSIG US        544.9       (10.2)       -
BRINKER INTL       EAT US       2,495.7       (46.7)    (408.2)
CALUMET SPECIALT   CLMT US      2,731.6      (284.1)     (12.7)
CARDINAL HEALTH    CAH US      45,880.0    (3,262.0)    (572.0)
CARTESIAN THERAP   RNAC US        325.2      (116.8)      74.5
CARVANA CO         CVNA US      6,983.0      (311.0)   1,958.0
CEDAR FAIR LP      FUN US       2,264.3      (730.9)    (234.1)
CHENIERE ENERGY    CQP US      17,497.0      (822.0)  (1,845.0)
CHILDREN'S PLACE   PLCE US        800.3        (9.0)    (164.3)
COMMUNITY HEALTH   CYH US      14,417.0      (878.0)   1,039.0
COMPOSECURE IN-A   CMPO US        213.6      (197.4)     108.4
CONSENSUS CLOUD    CCSI US        620.8      (151.8)      24.5
CONX CORP          CONXU US        22.0       (18.1)      (4.0)
CONX CORP-A SHRS   CNXX US         22.0       (18.1)      (4.0)
COOPER-STANDARD    CPS US       1,844.4      (123.8)     233.5
CORE SCIENTIFIC    CORZ US        814.0      (318.5)       5.2
CORNER GROWTH AC   COOLU US         3.8       (11.5)      (5.0)
CORNER GROWTH AC   COOL US          3.8       (11.5)      (5.0)
CPI CARD GROUP I   PMTS US        319.8       (48.5)     106.9
CROSSAMERICA PAR   CAPL US      1,179.5        (1.8)     (36.6)
CYTOKINETICS INC   CYTK US        808.1      (396.2)     549.8
DELEK LOGISTICS    DKL US       1,654.4       (42.5)      48.3
DELL TECHN-C       DELL US     82,089.0    (2,309.0)   (12,547)
DENNY'S CORP       DENN US        460.4       (55.7)     (55.0)
DIGITALOCEAN HOL   DOCN US      1,485.6      (286.1)     326.9
DINE BRANDS GLOB   DIN US       1,695.2      (244.8)     (92.8)
DOMINO'S PIZZA     DPZ US       1,744.7    (4,008.3)     384.9
DOMO INC- CL B     DOMO US        204.4      (163.5)     (94.0)
DROPBOX INC-A      DBX US       2,797.7      (277.2)     172.4
EMBECTA CORP       EMBC US      1,199.6      (769.6)     399.6
ETSY INC           ETSY US      2,497.7      (583.8)     839.3
FAIR ISAAC CORP    FICO US      1,703.1      (735.7)     326.4
FENNEC PHARMACEU   FRX CN          26.9       (11.6)      19.3
FENNEC PHARMACEU   FENC US         26.9       (11.6)      19.3
FERRELLGAS PAR-B   FGPRB US     1,621.0      (193.3)     215.7
FERRELLGAS-LP      FGPR US      1,621.0      (193.3)     215.7
FOGHORN THERAPEU   FHTX US        255.0       (97.5)     159.5
FORTINET INC       FTNT US      7,662.1      (137.5)     759.3
GALECTIN THERAPE   GALT US         25.9       (71.1)      12.8
GCM GROSVENOR-A    GCMG US        497.3      (100.9)      84.5
GENFLAT HOLDINGS   HCBRD US         0.1        (0.1)      (0.1)
GLOBAL PARTNER A   GPACU US        20.3        (1.2)      (9.9)
GLOBAL PARTNER-A   GPAC US         20.3        (1.2)      (9.9)
GOAL ACQUISITION   PUCKU US         3.3        (9.2)     (12.1)
GRINDR INC         GRND US        437.7       (22.0)       5.4
H&R BLOCK INC      HRB US       3,213.3      (129.8)      21.8
HAWAIIAN HOLDING   HA US        3,790.9       (40.2)    (141.3)
HERBALIFE LTD      HLF US       2,647.0    (1,036.6)     281.5
HERON THERAPEUTI   HRTX US        217.9       (33.8)     110.5
HILTON WORLDWIDE   HLT US      15,932.0    (2,817.0)    (591.0)
HP INC             HPQ US      35,846.0    (1,640.0)  (6,999.0)
ILEARNINGENGINES   AILE US        111.8       (47.1)      39.8
IMMUNITYBIO INC    IBRX US        400.7      (691.0)     142.0
INSMED INC         INSM US      1,159.1      (464.8)     337.9
INSPIRED ENTERTA   INSE US        331.1       (81.2)      50.0
INTUITIVE MACHIN   LUNR US        170.8       (43.9)      10.9
IRONWOOD PHARMAC   IRWD US        438.8      (330.5)     (44.3)
JACK IN THE BOX    JACK US      2,899.0      (702.6)    (245.4)
LAMAR ADVERTIS-A   LAMR US      6,525.1      (616.5)    (340.7)
LESLIE'S INC       LESL US      1,095.2      (231.0)     191.5
LINDBLAD EXPEDIT   LIND US        868.0      (116.5)     (71.0)
LIONS GATE ENT-B   LGF/B US     7,092.7      (187.2)  (2,528.6)
LIONS GATE-A       LGF/A US     7,092.7      (187.2)  (2,528.6)
LOWE'S COS INC     LOW US      45,365.0   (14,606.0)   3,244.0
MADISON SQUARE G   MSGS US      1,388.5      (294.0)    (275.9)
MADISON SQUARE G   MSGE US      1,458.6       (94.6)    (295.0)
MANNKIND CORP      MNKD US        480.9      (230.0)     283.2
MARBLEGATE ACQ-A   GATE US          7.1       (15.4)      (0.3)
MARBLEGATE ACQUI   GATEU US         7.1       (15.4)      (0.3)
MARRIOTT INTL-A    MAR US      25,756.0    (1,616.0)  (4,720.0)
MARTIN MIDSTREAM   MMLP US        512.1       (61.5)      23.0
MATCH GROUP INC    MTCH US      4,403.5      (107.7)     731.0
MBIA INC           MBI US       2,488.0    (1,723.0)       -
MCDONALDS CORP     MCD US      53,513.0    (4,833.0)    (829.0)
MCKESSON CORP      MCK US      67,443.0    (1,599.0)  (4,387.0)
MEDIAALPHA INC-A   MAX US         153.0       (89.4)      (0.7)
METTLER-TOLEDO     MTD US       3,283.1      (158.7)      79.2
MSCI INC           MSCI US      5,478.6      (650.5)      (4.0)
NATHANS FAMOUS     NATH US         42.9       (35.0)      21.1
NEW ENG RLTY-LP    NEN US         385.7       (65.4)       -
NOVAGOLD RES       NG CN          126.9       (16.1)     118.1
NOVAGOLD RES       NG US          126.9       (16.1)     118.1
NOVAVAX INC        NVAX US      1,353.5      (867.1)     (77.3)
NUTANIX INC - A    NTNX US      2,729.5      (611.7)     917.6
O'REILLY AUTOMOT   ORLY US     14,213.1    (1,391.2)  (2,288.7)
OMEROS CORP        OMER US        437.5       (71.3)     221.9
OTIS WORLDWI       OTIS US      9,791.0    (4,816.0)    (180.0)
OUTLOOK THERAPEU   OTLK US         59.0      (134.2)       3.7
PAPA JOHN'S INTL   PZZA US        847.2      (445.5)     (56.7)
PDS BIOTECHNOLOG   PDSB US         69.0      (155.1)      45.4
PELOTON INTERA-A   PTON US      2,408.5      (590.4)     675.5
PETRO USA INC      PBAJ US          0.0        (0.2)      (0.2)
PHATHOM PHARMACE   PHAT US        356.5      (148.5)     358.7
PHILIP MORRIS IN   PM US       65,315.0    (8,563.0)  (1,294.0)
PITNEY BOWES INC   PBI US       4,103.0      (392.4)     (43.3)
PLANET FITNESS-A   PLNT US      2,992.8       (99.2)     274.3
PROS HOLDINGS IN   PRO US         407.9       (84.0)      34.0
PROTAGONIST THER   PTGX US        629.3      (408.4)     334.3
PTC THERAPEUTICS   PTCT US      1,789.6      (893.9)     594.2
RAPID7 INC         RPD US       1,488.5       (86.4)     101.8
RE/MAX HOLDINGS    RMAX US        566.7       (77.9)      30.9
REALREAL INC/THE   REAL US        431.6      (327.1)      31.6
RED ROBIN GOURME   RRGB US        741.9       (20.4)     (94.6)
REDFIN CORP        RDFN US      1,071.1        (5.8)      93.8
RENT THE RUNWA-A   RENT US        278.5      (122.3)      54.1
RH                 RH US        4,143.9      (297.4)     229.0
RINGCENTRAL IN-A   RNG US       1,873.1      (322.9)      67.0
RMG ACQUISITION    RMGUF US         7.0       (11.0)      (7.5)
RMG ACQUISITION    RMGCF US         7.0       (11.0)      (7.5)
SABRE CORP         SABR US      4,737.8    (1,416.2)     334.1
SBA COMM CORP      SBAC US      9,995.3    (5,186.2)  (1,965.7)
SCOTTS MIRACLE     SMG US       3,924.2      (250.9)     874.8
SCPHARMACEUTICAL   SCPH US         78.5      (295.5)      58.4
SEAGATE TECHNOLO   STX US       7,096.0    (1,889.0)    (447.0)
SEMTECH CORP       SMTC US      1,373.7      (307.2)     317.0
SIX FLAGS ENTERT   SIX US       2,737.9      (457.4)    (449.9)
SLEEP NUMBER COR   SNBR US        908.5      (445.9)    (725.1)
SOLARMAX TECHNOL   SMXT US         97.1        (5.2)     (25.2)
SPIRIT AEROSYS-A   SPR US       6,764.5    (1,113.8)   1,240.5
SQUARESPACE IN-A   SQSP US        965.5      (266.3)    (183.6)
STARBUCKS CORP     SBUX US     29,363.2    (8,442.2)  (1,063.9)
SYMBOTIC INC       SYM US       1,588.0       413.6      392.9
SYNDAX PHARMACEU   SNDX US        543.0      (482.9)     403.1
TORRID HOLDINGS    CURV US        476.9      (211.7)     (53.0)
TPI COMPOSITES I   TPIC US        745.9      (184.1)      70.6
TRANSAT A.T.       TRZ CN       2,786.1      (840.2)    (209.0)
TRANSDIGM GROUP    TDG US      21,577.0    (3,022.0)   6,047.0
TRAVEL + LEISURE   TNL US       7,023.0      (925.0)     975.0
TRINSEO PLC        TSE US       2,989.4      (348.0)     464.7
TRISALUS LIFE SC   TLSI US         25.7       (25.9)       6.2
TRIUMPH GROUP      TGI US       1,686.3      (104.4)     583.1
TRULEUM INC        TRLM US          2.0        (2.7)      (3.3)
TUCOWS INC-A       TC CN          780.3       (15.9)       5.7
TUCOWS INC-A       TCX US         780.3       (15.9)       5.7
UNISYS CORP        UIS US       1,890.5      (144.8)     330.1
UNITED HOMES GRO   UHG US         298.6       (31.2)     195.9
UNITED PARKS & R   PRKS US      2,625.0      (208.2)     (20.7)
UNITI GROUP INC    UNIT US      4,984.6    (2,477.5)       -
UROGEN PHARMA LT   URGN US        200.6       (40.1)     170.4
VECTOR GROUP LTD   VGR US       1,017.3      (739.1)     376.8
VERISIGN INC       VRSN US      1,727.8    (1,635.7)    (225.6)
WAYFAIR INC- A     W US         3,240.0    (2,825.0)    (437.0)
WINGSTOP INC       WING US        412.3      (434.4)      92.0
WINMARK CORP       WINA US         38.3       (52.6)      11.9
WORKIVA INC        WK US        1,201.9       (83.2)     530.1
WPF HOLDINGS INC   WPFH US          0.0        (0.3)      (0.3)
WYNN RESORTS LTD   WYNN US     13,470.7      (946.4)   1,137.8
XPONENTIAL FIT-A   XPOF US        508.4       (91.5)      (4.6)
YELLOW CORP        YELLQ US     2,147.6      (447.8)  (1,098.0)
YUM! BRANDS INC    YUM US       6,224.0    (7,756.0)     586.0



                            *********

Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par.  Prices are
obtained by TCR editors from a variety of outside sources during
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                            *********

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Troubled Company Reporter is a daily newsletter co-published
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                   *** End of Transmission ***