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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

              Friday, January 31, 2025, Vol. 29, No. 30

                            Headlines

1629 REEVES: Fine-Tunes Plan Documents
2108 E. MISSION: U.S. Trustee Unable to Appoint Committee
23ANDME HOLDING: Explores Strategic Options After Revenue Drop
A.B.A.N.E. PROPERTIES: To Sell El Paso Property to El Paso Ardent
ACTIVE LIFE: Unsecureds to Get Share of Income for 36 Months

ADVENTURE COAST: Files Emergency Bid to Use Cash Collateral
AEMETIS INC: Committee OKs Executive Salaries, Bonuses
AIMBRIDGE HOSPITALITY: Moody's Cuts CFR to 'Ca', Outlook Negative
ALLEN MEDIA: S&P Places 'CCC+' ICR on CreditWatch Negative
AMWINS GROUP: Moody's Lowers Rating on Secured Bank Loans to 'B1'

ANCARLO BROTHERS: Hires Hector Eduardo Pedrosa Luna as Counsel
ANGIE'S TRANSPORTATION: Gets Interim OK to Use IRS' Cash Collateral
APPLIED DNA: Adjourns Special Meeting Until Feb. 14
ARCH THERAPEUTICS: Raises $125K in 10th Convertible Notes Closing
ARCON CONSTRUCTION: Hires Resolution Law Firm as Counsel

ART LUXURY: Claims to be Paid From Disposable Income
ARTISTIC HOLIDAY: Case Summary & 20 Largest Unsecured Creditors
ASCENSUS GROUP: S&P Affirms 'B-' Rating on First-Lien Term Loan
ASMC LLC: Court Extends Cash Collateral Access to March 10
ASMC LLC: Plan Filing Deadline Extended to April 21

AUTO GLASS: Hires Burch & Cracchiolo PA as Legal Counsel
BENK GROUP: Seeks to Hire DeMarco·Mitchell PLLC as Counsel
BERRY CORP: Appoints Jeff Magids as Principal Financial Officer
BERRY CORP: Moody's Assigns 'B3' CFR, Outlook Stable
BIG DOG: Unsecureds Will Get 10.8% of Claims over 5 Years

BIOREGENX INC: Robert Doran Resigns as Director Effective Jan. 31
BLUE RIBBON: Moody's Cuts CFR to 'Caa3' & Alters Outlook to Stable
BYJU'S ALPHA: Voizzit Sanctioned for Interfering in Chapter 11 Case
CAPSTONE COMPANIES: Appoints Brian Rosen to Board of Directors
CAPSTONE COMPANIES: Signs Engagement Deal With Eschenburg Perez

CAYMUS FUNDING: Gets OK to Use Cash Collateral Until Feb. 24
CELESTIAL PRODUCTS: Hires Lane Law Firm PLLC as Counsel
CIMG INC: Completes $10-Mil. Convertible Note and Warrant Offering
CLEAN ENERGY: Sells $1.47-Mil. Securities to Mast Hill Fund
CLEARWAY ENERGY: Moody's Affirms 'Ba2' CFR, Outlook Stable

COLLEGE OF SAINT ROSE: Seeks to Extend Plan Exclusivity to March 24
COMTECH TELECOMMUNICATIONS: Adds 2.195M Shares Under Equity Plan
CONCENTRA GROUP: Moody's Affirms 'Ba3' CFR, Outlook Stable
COSMOS HEALTH: Inks Patent License Deal With DocPharma
DARLING INGREDIENTS: Moody's Alters Outlook on Ba1 CFR to Negative

DECORATIVE PLUMBING: Files Chapter 11 in California
EARTH SCIENCE: Director Emiliano Curia Holds 500 Common Shares
EASTERN COLORADO: Hires Creative Planning as Financial Advisor
EASTERN COLORADO: Hires Onsager Fletcher Johnson as Counsel
EASTERN COLORADO: Seeks to Use Cash Collateral

ECO MATERIAL: Moody's Rates New $800MM 1st Lien Loan Due 2032 'B2'
ECS FARMS: Seeks to Hire Allen Vellone Wolf as Counsel
EPIC! CREATIONS: U.S. Trustee Unable to Appoint Committee
ETHEMA HEALTH: ARIA Completes Edgewater Recovery Acquisition
EURO CONSTRUCTION: Files Subchapter V Bankruptcy Petition in Nevada

FAMILY SOLUTIONS: Trustee Hires Hendren Redwine as Co-Counsel
FILTERX LLC: Hires Dunham Hildebrand Payne as Counsel
FIRSTBASE.IO INC: Plan Exclusivity Period Extended to May 23
FLEET SERVICES: Court OKs Deal to Use SBA's Cash Collateral
FLUENT INC: Global Value Holds 14.97% Stake as of Jan. 17

FRANCHISE GROUP: Unsecured Creditors Move to Contest Lender Liens
FULLER'S SERVICE: Case Summary & 20 Largest Unsecured Creditors
GAS CITY, IN: S&P Lowers 2020 Sewage Works Bond Rating to 'BB+'
GEON PERFORMANCE: Moody's Affirms 'B2' CFR, Outlook Remains Stable
GRUPO HIMA: IRS Contests Bankruptcy Plan Over $5.7MM Claim

H-FOOD HOLDINGS: First Lien Claims Will Get 41% to 46% in Plan
HAIRLAND CORP: Court Denies Barbershop Equipment Sale
HBL SNF: No Resident Care Concerns, 13th PCO Report Says
HERITAGE HOTELS: Plan Exclusivity Period Extended to April 21
HOLIDAY CREATIONS: Voluntary Chapter 11 Case Summary

HOSPITALITY AT YORK: Gets OK to Use Cash Collateral Until Feb. 28
HOYA MIDCO: S&P Rates New $393MM Term Loan B 'BB-'
IGNITE OPTICS: Gets Final OK to Use Cash Collateral Until March 30
IM3NY LLC: Receives Interim Approval for Chapter 11 Loan
INDIVIDUALIZED ABA: Hires RHM Law LLP as Bankruptcy Counsel

INFINERA CORP: Secures $93-Mil. Under CHIPS Act for New Facilities
ISLAND VIEW: Seeks to Use Cash Collateral Until March 11
J.C. PENNEY: Sues Jackson Walker Over Bankruptcy Fees
JMKA LLC: Court Extends Use of Cash Collateral Until Feb. 14
JOHN R. KEARNEY: U.S. Trustee Appoints Shireen Hart as PCO

JUMPSTAR ENTERPRISES: Hires Kean Miller LLP as Counsel
K & M AMUSEMENT: Claims to be Paid From Asset Sale Proceeds
KAH HOSPICE: S&P Rates New $2.136BB First-Lien Term Loan B 'B'
KAL FREIGHT: Intends to File Chapter 11 Plan in February
LABRUZZO COMMERCIAL: Files Amendment to Disclosure Statement

LABRUZZO WOODLANDS: Files Amendment to Disclosure Statement
LEITMOTIF SERVICES: Seeks to Use Cash Collateral
LEROUX CREEK: Plan Exclusivity Period Extended to April 2
LEXARIA BIOSCIENCE: Registers $50M Securities for Possible Offering
LIDO 10: Seeks Cash Collateral Access

LISBON CONCRETE: Hires Bradford Law Offices as Legal Counsel
LODGING ENTERPRISES: Plan Exclusivity Period Extended to March 24
LOUISVILLE LUSH: Files Emergency Motion to Sell Business Assets
M.P. PRODUCTIONS: Files Emergency Bid to Use Cash Collateral
MASTER FLOW: Hires Admin Consulting Company as Accountant

MCCLATCHIE PROPERTY: Gets Interim OK to Access Cash Collateral
MDM RESTORATION: Claims to be Paid From Income
MEDICAL PROPERTIES: S&P Assigns Prelim 'B-' Rating on Sec. Notes
MEXICAN MANUFACTURERS: Updates Unsecured Claims Pay; Amends Plan
MIDWEST MOBILE: To Sell Medical Equipment to Contract X-Ray

MR. COOPER GROUP: Moody's Alters Outlook on 'Ba3' CFR to Positive
MY CITY BUILDERS: Director Francis Pittilloni Holds 32.2% Stake
MY CITY BUILDERS: PreCheck President Frank Gillen Holds 32.2% Stake
MY CITY BUILDERS: President Yolanda Goodell Holds 32.2% Stake
MYA POS: Seeks to Hire BCM Advisory Group as Financial Advisor

NATIONAL MENTOR: Moody's Affirms 'B3' CFR, Outlook Remains Stable
NOVABAY PHARMACEUTICALS: Completes Avenova Sale to PRN Physician
NOVABAY PHARMACEUTICALS: Extends CEO's Employment to Dec. 31
ONYX OWNER: U.S. Trustee Unable to Appoint Committee
OUTLOOK THERAPEUTICS: GMS Ventures Holds 38.6% Stake as of Jan. 17

PAPER IMPEX: To Sell Truck & Trailer to Rubens Luck
PASKEY INC: Gets OK to Use $165,758 in Cash Collateral
PATCHELL HOLDINGS: Moody's Alters Outlook on 'B3' CFR to Positive
PENNS GROVE: Seeks Chapter 11 Protection in New York
PHYSICIAN PARTNERS: S&P Upgrades ICR to 'CCC+', Outlook Negative

PITNEY BOWES: Moody's Rates New Senior Secured Loans 'Ba2'
QUIKRETE HOLDINGS: Moody's Cuts CFR & Sr. Secured Term Loan to Ba3
RAVI GI: Seeks Approval to Hire Petrocelli & Company as Accountant
RAZEL & RUZTIN: PCO Reports Patient Care Complaints
RED RIVER: US Govt. Agencies Object to J&J $9-Bil. Talc Settlement

ROOME ENTERPRISES: Court OKs Interim Use of Cash Collateral
ROTM LOFTS: Hires Tranzon Auction Properties as Auctioneer
SAKS GLOBAL: S&P Assigns 'CCC+' ICR on Completed Acquisition
SAMYS OC: U.S. Trustee Unable to Appoint Committee
SCILEX HOLDING: Extends Oramed Note Maturity to Dec. 31

SEDALIA AESTHETICS: Unsecureds to Split $40K via Quarterly Payments
SOFT PACKAGING: Gets OK to Use Cash Collateral Until Feb. 28
SOUTHERN WAY: 45-Day Extension for Plan Filing Granted
ST. JOHNS CLASSICAL: Moody's Rates 2025A/B Educational Bonds 'Ba2'
STEWARD HEALTH: PCO Reports No Change in Patient Care

SUN TECH AIR: Seeks Cash Collateral Access Until Feb. 28
SUPERSTAR ELIZABETH: Claims to be Paid From Rental Income
SURVWEST LLC: Plan Exclusivity Period Extended to May 3
TBB DEEP: Gets Interim OK to Use Cash Collateral Until Feb. 5
TD&H INC: Unsecured Creditors Will Get 25% Dividend in Plan

TUPPERWARE BRANDS: Lenders Object to Retiree Panel Creation
TWENTY EIGHT: Files Chapter 11 Petition in New Hampshire
TWIN FALLS: Seeks to Use Additional $197,715 in Cash Collateral
U.S. CREDIT: Updates Unsecured Claims; Files Amended Plan
UNITED HAULING: Seeks Chapter 11 Protection in Arizona

VALLEY PARK: Seeks Chapter 11 Protection in Mississippi
VIA MIZNER: Files Emergency Bid to Use Cash Collateral
VIASAT INC: Restructures Exec Team; President to Depart
VITAL PHARMACEUTICALS: Gets Court Approval for $3-Mil. Settlement
WEST TECHNOLOGY: Moody's Cuts CFR to Caa1 & Alters Outlook to Neg.

WOK HOLDINGS: Moody's Affirms 'Caa1' CFR, Outlook Stable
WYNNE TRANSPORTATION: U.S. Trustee Appoints Creditors' Committee
YOUNG TRANSPORTATION: Plan Filing Deadline Extended to Feb. 24
ZACHRY HOLDINGS: Plan Exclusivity Period Extended to Feb. 28
ZACHRY HOLDINGS: Two Committee Members Resign

ZRG INC: Voluntary Chapter 11 Case Summary
[*] Senior Care, Pharma Led 2024 Healthcare Bankruptcies
[] BOOK REVIEW: Performance Evaluation of Hedge Funds

                            *********

1629 REEVES: Fine-Tunes Plan Documents
--------------------------------------
1629 Reeves, LLC, submitted an Amended Plan of Reorganization for
Small Business dated January 21, 2025.

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

The Amended Plan of Reorganization does not alter the proposed
treatment for unsecured creditors and the equity holder:

     * Class 3 consists of Non-priority unsecured creditors. This
Class shall be paid in full on the effective date. This Class is
unimpaired. The allowed unsecured claims total $21,006.

     * Class 4 consists of equity security holders of the Debtor.
The Debtor's sole member, Aaron Sokol, will retain his membership
interest.

The secured claims of JMAC Lending, Logan Investments and Lawrence
& Simi Feigen will be purchased and satisfied by a take-out lender.
The secured claim of Claudine Sokol is governed by a pre existing
subordination agreement. All other claims will be paid by a capital
contribution from Aaron Sokol.

A full-text copy of the Amended Plan dated January 21, 2025 is
available at https://urlcurt.com/u?l=1BJ8PY from PacerMonitor.com
at no charge.

The Debtor's Counsel:

          John P. Kreis, Esq.
          JOHN P KREIS, PC
          863 S. Rimpau Blvd.
          Los Angeles, CA 90005
          Tel: 213-369-1911
          E-mail: jkreis@kreislaw.com

                   About 1629 Reeves, LLC

1629 Reeves, LLC is a Single Asset Real Estate debtor (as defined
in 11 U.S.C. Section 101(51B)). The Debtor is the fee simple owner
of a commercial real estate located at 1629 Reeves Street, Los
Angeles, Calif., valued at $4.5 million.

The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. C.D. Cal. Case No. 24-14283) on May 30,
2024, with $4,500,000 in assets and $4,720,907 in liabilities as of
May 28, 2024. Aaron R. Sokol, managing member, signed the
petition.

Judge Neil W. Bason presides over the case.

John P. Kreis, Esq., at John P. Kreis, PC, is the Debtor's legal
counsel.


2108 E. MISSION: U.S. Trustee Unable to Appoint Committee
---------------------------------------------------------
The U.S. Trustee for Region 18 disclosed in a court filing that no
official committee of unsecured creditors has been appointed in the
Chapter 11 case of 2108 E. Mission, LLC.

                       About 2108 E. Mission

2108 E. Mission LLC sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. E.D. Wash. Case No. 25-00037) on January
10, 2025. In its petition, the Debtor reports estimated assets and
liabilities between $100,000 and $500,000.

Honorable Bankruptcy Judge Frederick P. Corbit handles the case.

Patrick H. Brick, Esq. represents the Debtor as counsel.


23ANDME HOLDING: Explores Strategic Options After Revenue Drop
--------------------------------------------------------------
Ashley Capoot of CNBC reports that embattled genetic testing
company 23andMe announced on January 28 that it has begun exploring
strategic alternatives for the second time, which could include a
sale of the company or its assets, a restructuring, or a business
combination.

According to the report, the stock, which plummeted 82% last year,
dropped another 10% in extended trading and was briefly halted.  In
March, the company's independent directors formed a special
committee to evaluate potential paths forward. CEO Anne Wojcicki
submitted a proposal to take the company private in July, but it
was rejected due to a lack of committed financing and the absence
of a premium over the closing share price at the time, according to
the committee.

Two months later, all independent directors resigned from 23andMe's
board, citing disagreements with Wojcicki over the company's
strategic direction. Wojcicki has since appointed three new
independent directors and announced plans to cut 40% of the
workforce and shut down the company's therapeutics business as part
of a restructuring effort, the report states.

On Tuesday, 23andMe said the special committee will once again
oversee the search for strategic alternatives, with Moelis &
Company serving as its financial advisor and Goodwin Procter as its
legal advisor. However, the committee noted there is no guarantee a
deal will be reached. While Wojcicki has repeatedly expressed
interest in taking the company private, it remains unclear whether
she will submit another proposal, according to report.

23andMe declined to comment.

The announcement coincided with the release of the company's
third-quarter results, showing an 8% decline in revenue from its
consumer services business, falling to $39.6 million from $42.9
million a year earlier. The company acknowledged the need for
additional liquidity to sustain operations and is actively seeking
capital, CNBC reports.

"Management has determined that there is substantial doubt about
the Company's ability to continue as a going concern," 23andMe
stated in its earnings release.

Once valued at $6 billion, 23andMe's market capitalization has now
fallen below $100 million, as Wojcicki struggles to keep the
company afloat.

                   About 23andMe

Headquartered in South San Francisco, California, 23andMe --
www.23andMe.com -- is a genetics-led consumer healthcare and
biopharmaceutical company empowering a healthier future. The
Company is dedicated to empowering customers to optimize their
health by providing direct access to their genetic information,
personalized reports, actionable insights and digital access to
affordable healthcare professionals through its telehealth
platform, Lemonaid Health.


A.B.A.N.E. PROPERTIES: To Sell El Paso Property to El Paso Ardent
-----------------------------------------------------------------
Ronald E. Ingalls, Chapter 7 Trustee of A.B.A.N.E. Properties Ltd.,
seeks approval from the U.S. Bankruptcy Court for the Western
District of Texas, El Paso Division, to sell real property free and
clear of liens.

The Debtor's property is located at s 5440 Westside Drive1 El Paso
Texas, El Paso County, Texas.

Previous sales of the property were approved, however, the buyers
have failed to close the transaction and upon information and
belief, the buyers desired to either create a commercial business
on the property, or to subdivide the property into multiple tracts.
Both such desire conflict with deed restrictions applicable to the
tract. This is the Chapter 7 Trustee's fourth motion.

The Trustee says he has obtained a new contract for the Property
from El Paso Ardent, LLC, with a contract price of $700,000.

The lienholder of the Property is Vantage Bank Texas.

The Trustee requests that the sale be free and clear of all liens.


The Trustee is represented by Sue Woo of Sandy Messer & Associates,
as real estate broker, and seeks approval of a 2.5% real estate
broker commission.

The ad valorem taxes for year 2025 pertaining to the subject
property will be prorated in accordance with the Earnest Money
Contract and will become the responsibility of the Purchaser and
the year 2025 ad valorem tax lien will be retained against the
subject property until said taxes are paid in full.

                       About A.B.A.N.E. Properties Ltd.

A.B.A.N.E. Properties, Ltd., in El Paso, Texas, filed its voluntary
petition for Chapter 11 protection (Bankr. W.D. Tex. Case No.
23-31398) on December 29, 2023, listing as much as $1 million to
$10 million in both assets and liabilities. Nora Herrera, as
managing member, signed the petition.

The Honorable Christopher G. Bradley presides over the case.

Carlos A. Miranda, Esq., at MIRANDA & MALDONADO, PC, serves as the
Debtor's legal counsel.


ACTIVE LIFE: Unsecureds to Get Share of Income for 36 Months
------------------------------------------------------------
Active Life Integrated Health submitted an Amended Plan of
Reorganization for Small Business dated January 22, 2025.

The Debtor will fund the Plan by contributing his "Disposable
Income" for a period of 60 months.  The Plan Proponent's financial
projections show Debtor will have projected disposable of $300.00
per month.

The final Plan payment is expected to be paid on May 31, 2030.

This Plan of Reorganization proposes to pay creditors of the Debtor
from cash flow from operations of Debtor's businesses.

Non-priority unsecured creditors holding allowed claims in Debtor's
case will receive distributions, which the proponent of this Plan
has valued at two cents ($0.02) on the dollar ($1.00). This Plan
also provides for the payment of administrative and priority
claims.

Class 12 consists of Non-priority Unsecured Creditors. Each holder
of a Class 12 non-priority unsecured Allowed Claim shall receive
their pro rata share of Debtor's Disposable Income commencing on
the Effective Date and continuing for a period of 36-month (the
"Class 12 Plan Dividend"). Any portion of a Class 12 non-priority
general unsecured claim in excess of the Class 12 Plan Dividend
shall be discharged in accordance with Article 9 of this Plan. This
Class is impaired.

The allowed unsecured claims total $475,632.

Equity security holders of Debtor shall retain their interests in
the Debtor, but shall receive no disbursement on account of such
equity interest during the Plan Term.

The Debtor will use its Disposable Income during the Plan Term,
cash on hand, and profits from the operation of its business to
fund the Plan. Commencing on the Effective Date of this Plan,
Debtor's Disposable Income will be disbursed on a monthly basis and
first used to fund the Class 12 Plan Dividend payments to Class 12
Non-priority general unsecured creditors on a pro rata basis.

During the Plan Term, Debtor's Disposable Income shall be disbursed
on a monthly basis to Class 12 Non-Priority General Unsecured
Claims for a period of 36-months.

A full-text copy of the Amended Small Business Plan dated January
22, 2025 is available at https://urlcurt.com/u?l=jqxW43 from
PacerMonitor.com at no charge.

Counsel to the Debtor:
   
     Kevin A. Darby, Esq.
     Tricia M. Darby, Esq.
     Darby Law Practice, Ltd.
     499 W. Plumb Lane, Suite 202
     Reno, NV 89509
     Telephone: (775) 322-1237
     Facsimile: (775) 996-7290
     Email: kevin@darbylawpractice.com
            tricia@darbylawpractice.com

                 About Active Life Integrated

Active Life Integrated Health operates a chiropractic practice in
Reno, Nevada.

The Debtor filed a petition under Chapter 11, Subchapter V of the
Bankruptcy Code (Bankr. D. Nev. Case No. 24-50587) on June 12,
2024, with $100,001 to $500,000 in assets and $500,001 to $1
million in liabilities.

Kevin A. Darby, Esq., at Darby Law Practice, Ltd., is the Debtor's
bankruptcy counsel.


ADVENTURE COAST: Files Emergency Bid to Use Cash Collateral
-----------------------------------------------------------
Adventure Coast, LLC asked the U.S. Bankruptcy Court for the
Northern District of Georgia, Atlanta Division, for authority to
use cash collateral.

The Debtor requires the use of cash collateral for general
operational and administrative expenses.

The Debtor had a strong 2022 and expanded into trailer
manufacturing. This growth was fueled by robust rental income.
However, 2023 presented significant challenges. The Hollywood
strikes severely impacted industry activity, leading to a sharp
decline in production and rental income. This, combined with high
overhead costs and insufficient manufacturing orders due to the
election year, created a severe cash flow crisis.

Despite efforts to overcome these challenges, the Debtor's mounting
debt depleted its resources. To restructure and stabilize its
operations, the Debtor has filed for Chapter 11 bankruptcy
protection.

Adventure Coast is a borrower on several loans with Channel Capital
Partners of approximately $4,367. Channel filed a UCC financing
statement with the Georgia Secretary of State on September 18,
2023, file number 007-2023-047260, asserting a security interest in
essentially all of the Debtor's assets.

The Debtor is also a borrower with respect to a certain Factoring
Agreement dated June 25, 2024 with Northwest Georgia Factoring
Group, with approximately $100,000 outstanding. The Debtor disputes
the secured status of this debt and asserts that Northwest is an
unsecured creditor. Northwest filed a UCC financing statement on
October 25, 2024, filing number 008-2024-002040, which is within 90
days of the Debtor’s filing, making Northwest's claim unsecured.


The Debtor is also the borrower on an EIDL loan with the U.S. Small
Business Administration, with an approximate principal balance of
$15,000. Proposed counsel for the Debtor has been unable to locate
a filed UCC financing statement with respect to the SBA's
indebtedness.

Adventure Coast is also a borrower on several other loans,
including a mortgage loan for its primary facility and several
equipment loans with various lenders.

As adequate protection, the Debtor proposed to grant the Lenders
replacement liens in post-petition collateral of the same kind,
extent, and priority as the liens existing pre-petition, except
that the Adequate Protection Liens will not extend to the proceeds
of any avoidance actions received by the Debtor or the estate
pursuant to chapter 5 of the Bankruptcy Code.

                    About Adventure Coast, LLC

Adventure Coast, LLC is an equipment rental service provider
specializing in trailers, restrooms, showers, generators, and other
production essentials for the film, broadcast, live events, private
events, and sports industries. With locations across major cities
like Atlanta, Nashville, and Orlando, the Company provides
nationwide service for everything from large-scale productions to
intimate events. Its extensive inventory includes talent trailers,
RVs, office trailers, shower trailers and heavy equipment.

The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. N. D. Ga. Case No. 25-50682) on January 22,
2025. In the petition signed by Marcus Cooley, CEO, the Debtor
disclosed up to $10 million in both assets and liabilities.

Benjamin Keck, Esq., at Keck Legal, LLC, represents the Debtor as
legal counsel.


AEMETIS INC: Committee OKs Executive Salaries, Bonuses
------------------------------------------------------
Aemetis, Inc. disclosed in a Form 8-K Report filed with the U.S.
Securities and Exchange Commission that the Governance,
Compensation, and Nominating Committee of the Board of Directors
held a regular meeting, at which it considered salaries, bonuses,
and equity awards for its named executive officers and certain
other employees of the Company. At the meeting, the Committee
reviewed the progress of the Company in achieving key goals in
several different segments of operations. The Committee also
reviewed the compensation of its Named Executive Officers in light
of the average and range of compensation paid by a peer group of
companies as analyzed in a report prepared by a third-party
compensation consultant.

In connection with its review, the Committee approved and
authorized revised annual base salaries for the Company's Named
Executive Officers in the following amounts:

     * Eric A. McAfee, Chairman and Chief Executive Officer, salary
of $500,000 per year;
     * Todd A. Waltz, Executive Vice President and Chief Financial
Officer, salary of $430,000 per year;
     * Andrew B. Foster, Executive Vice President, North America,
salary of $400,000 per year;
     * Sanjeev Gupta, Executive Vice President, International,
salary of $400,000 per year;
     * and J. Michael Rockett, Executive Vice President and General
Counsel, salary of $400,000 per year.

The Committee also approved and authorized the payment of one-time
bonuses to the Company's Named Executive Officers in the following
amounts:

     * Eric A. McAfee, Chairman and Chief Executive Officer, bonus
of $200,000;
     * Todd A. Waltz, Executive Vice President and Chief Financial
Officer, bonus of $125,000;
     * Andrew B. Foster, Executive Vice President, North America,
bonus of $125,000;
     * Sanjeev Gupta, Executive Vice President, International,
bonus of $125,000;
     * and J. Michael Rockett, Executive Vice President and General
Counsel, bonus of $125,000.

                           About Aemetis

Headquartered in Cupertino, California, Aemetis -- www.aemetis.com
-- is a renewable natural gas, renewable fuel, and biochemicals
Company focused on the operation, acquisition, development, and
commercialization of innovative technologies that replace
petroleum-based products and reduce greenhouse gas emissions.
Founded in 2006, Aemetis is operating and actively expanding a
California biogas digester network and pipeline system to convert
dairy waste gas into Renewable Natural Gas. Aemetis owns and
operates a 65 million gallon per year ethanol production facility
in California's Central Valley near Modesto that supplies about 80
dairies with animal feed. Aemetis also owns and operates a 60
million gallon per year production facility on the East Coast of
India producing high-quality distilled biodiesel and refined
glycerin for customers in India and Europe. Additionally, Aemetis
is developing a sustainable aviation fuel (SAF) and renewable
diesel fuel biorefinery in California to utilize renewable
hydrogen, hydroelectric power, and renewable oils to produce low
carbon intensity renewable jet and diesel\fuel.

As a result of negative capital, negative operating results, and
collateralization of substantially all of the Company assets, the
Company has been reliant on its senior secured lender to provide
extensions to the maturity dates of its debt and loan facilities
and was required in 2023 to remit excess cash from operations to
its senior secured lender.  In order to meet its obligations during
the next twelve months, the Company will need to refinance debt
with its senior lender for amounts becoming due in the next 12
months or receive the continued cooperation of its senior lender.
This dependence on the Company's senior lender raises substantial
doubt about the Company's ability to continue as a going concern,
according to the Company's Quarterly Report on Form 10-Q for the
period ended September 30, 2024.

Aemetis reported a net loss of $46.42 million for the year ended
Dec. 31, 2023, compared to a net loss of $107.76 million for the
year ended Dec. 31, 2022. As of September 30, 2024, the Company had
$247.4 million in total assets, $506.3 million in total
liabilities, and $258.9 million in total stockholders' deficit.


AIMBRIDGE HOSPITALITY: Moody's Cuts CFR to 'Ca', Outlook Negative
-----------------------------------------------------------------
Moody's Ratings downgraded the ratings of Aimbridge Hospitality
Holdings, LLC ("Aimbridge") including its corporate family rating
to Ca from B3, probability of default rating to Ca-PD from B3-PD
and its backed senior secured bank credit facility ratings to Ca
from B3. The outlook was revised to negative from stable.

The downgrade reflects governance considerations following the
company's announcement [1] that it had entered into a Restructuring
Support Agreement ("RSA") with its first and second lien lenders
which results in the conversion of about $1.1 billion of debt into
equity. The transaction was supported by more than 80% of its first
lien lenders, all of its second lien lenders and its current owner,
Advent International. The company's first lien lenders will become
majority owners following the close of the transaction, which is
expected to be in the first quarter of 2025. Under the terms of the
RSA, the first lien lenders will put $100 million of capital into
the company. At close, the company will have a maximum amount of
total debt of $210 million, including the $100 million of planned
capital injected by first lien lenders.

The company's $120 million revolving credit facility was set to
expire in February 2025 with the balance of its capital structure
maturing in February 2026. Aimbridge has struggled with its debt
load following its 2019 acquisition of Interstate Hotels & Resorts
and the impact of the pandemic shortly thereafter.

RATINGS RATIONALE

Aimbridge's ratings reflect the company's untenable capital
structure and the high likelihood of a default. The company's high
debt balance is reflective of the aforementioned Interstate
acquisition and incremental debt raised during the COVID-19
pandemic. The ratings also reflect Moody's view that Aimbridge has
a solid position as the largest third party hotel manager in the
US. The company benefits from good diversification by geography,
brand, and hotel owner as well as minimal capital expenditure
requirements.

The negative outlook reflects the high likelihood of a default and
the potential for a low recovery.

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

Ratings could be upgraded if the contemplated transaction closes,
with the potential upgrade dependent upon the capital structure at
the close of the transaction. Ratings could be downgraded if the
recovery prospects are lower than Moody's currently expect.

Aimbridge Acquisition Co., Inc., through its subsidiaries Aimbridge
Hospitality Holdings, LLC and KIHR Holdings Inc., is the largest
third-party hotel operator, with over 1,000 properties across North
America, EMEA and LATAM representing over 150,000 hotel rooms. The
company is majority owned by Advent International. The company is
private and does not file public financials. Net revenue was about
$439 million for the fiscal year ended December 31, 2023.

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


ALLEN MEDIA: S&P Places 'CCC+' ICR on CreditWatch Negative
----------------------------------------------------------
S&P Global Ratings placed all its ratings on Los Angeles-based
media company Allen Media LLC, including the 'CCC+' issuer credit
rating, on CreditWatch with negative implications. At the same
time, S&P revised its recovery rating on the company's first-lien
debt to '3' from '2'. S&P's '6' recovery rating on the senior
unsecured notes is unchanged.

The CreditWatch placement reflects Allen Media's upcoming revolving
credit facility maturity and the possibility that S&P will lower
its ratings by multiple notches over the near term if the company
is unable to repay the revolving credit facility by the maturity
date.

The CreditWatch with negative implications reflects the near-term
default risk associated with Allen Media's revolving credit
facility. The company's nearly fully drawn $100 million revolving
credit facility, with an outstanding balance of $99.9 million,
matures on Feb. 10, 2025. As of Sept. 30, 2024, Allen Media
reported a cash balance of $60.1 million. S&P said, "We believe it
is unlikely the company will generate sufficient cash flow in the
fourth quarter to fully repay this upcoming maturity. As such, we
view Allen Media's ability to address its upcoming maturity as
uncertain."

S&P said, "Over the next 7-10 days, we will lower our rating on the
company by multiple notches if it is unable to repay its revolver
or obtain a new revolving credit facility. In addition, if Allen
Media pursues modifications to the original terms that do not
include adequate offsetting compensation, we would view this as
tantamount to a default and subsequently lower our issuer credit
rating to 'SD' (selective default).

"The CreditWatch placement reflects Allen Media's upcoming
revolving credit facility maturity and the possibility that we will
lower our ratings by multiple notches over the near term if the
company is unable to repay the revolving credit facility by the
maturity date. Specifically, we would lower our ratings on the
company by multiple notches if it is unable to repay its revolver
or obtain a new revolving credit facility over the next 7-10 days.

"Alternatively, we would affirm the 'CCC+' issuer credit rating and
remove our ratings from CreditWatch if Allen Media is able to repay
the revolving credit facility, which would likely require an
infusion of new or outside capital."



AMWINS GROUP: Moody's Lowers Rating on Secured Bank Loans to 'B1'
-----------------------------------------------------------------
Moody's Ratings has downgraded to B1 from Ba3 the ratings on the
backed senior secured bank credit facilities and the backed senior
secured notes of Amwins Group, Inc. based on a pending change in
funding mix. This action follows the company's announcement that it
will issue a $4.6 billion seven-year backed senior secured term
loan and use proceeds to refinance its existing term loan, fund a
distribution to shareholders, pay related fees and expenses and add
cash to balance sheet. The transaction will increase Amwins' backed
senior secured borrowings by $1.3 billion, thereby increasing its
proportion of senior secured debt relative to senior unsecured
debt. Amwins' B1 corporate family rating, B1-PD probability of
default rating and B3 backed senior unsecured notes rating are not
affected. The rating outlook for Amwins is stable.

RATINGS RATIONALE

Amwins' ratings reflect its market position as the largest US
property and casualty (P&C) wholesale insurance broker; its
diversification across clients, retail producers, insurance
carriers and product lines; and its healthy EBITDA margins. The
company has achieved solid organic growth and consistent
profitability supported by technology investments, high employee
retention and an opportunistic acquisition strategy. These
strengths are offset by the company's significant debt burden,
integration risk associated with acquisitions, and potential
liabilities arising from errors and omissions, a risk inherent in
professional services. Amwins also has a record of borrowing
substantial sums from time to time to help fund payments to
shareholders.

Amwins generated revenue of $2.2 billion through the first nine
months of 2024, up 14.8% versus the same period in 2023. The
company achieved strong organic growth driven by heightened demand
for specialty insurance products, an ongoing shift of business from
the standard market into the excess and surplus lines market, and
price increases in various P&C insurance lines. The company has
maintained strong EBITDA margins in the mid-to-low 30s (per Moody's
calculations) and healthy cash from operations.

Giving effect to the proposed transaction, Moody's estimate that
Amwins will have a pro forma debt-to-EBITDA ratio of around 6x, and
(EBITDA - capex) interest coverage of 2.5x-3x. The company's free
cash flow metrics fluctuate with its strong operating cash flow,
moderate capex, and periodic large payments to shareholders. While
the issuance of debt to fund shareholder dividends is credit
negative, Moody's expect that Amwins' will maintain financial
leverage in the range of 5x-6x (per Moody's calculations), as it
has done historically.

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

Factors that could lead to an upgrade of Amwins' ratings include:
(i) continued profitable growth, (ii) debt-to-EBITDA ratio below
4.5x, (iii) (EBITDA - capex) coverage of interest exceeding 3.5x,
and (iv) free-cash-flow-to-debt ratio exceeding 8%.

Factors that could lead to a downgrade of Amwins' ratings include:
(i) debt-to-EBITDA ratio above 6x, (ii) (EBITDA - capex) coverage
of interest below 2.5x, or (iii) material decline in operating cash
flow.

The principal methodology used in these ratings was Insurance
Brokers and Service Companies published in February 2024.

Based in Charlotte, North Carolina, Amwins is a leading wholesale
distributor of specialty insurance products and services. The
company generated revenue of $2.9 billion for the 12 months through
September 2024.


ANCARLO BROTHERS: Hires Hector Eduardo Pedrosa Luna as Counsel
--------------------------------------------------------------
Ancarlo Brothers, Inc. seeks approval from the U.S. Bankruptcy
Court for the District of Puerto Rico to employ The Law Offices of
Hector Eduardo Pedrosa Luna as counsel.

The firm will render these services:

     a. prepare bankruptcy schedules, pleadings, applications and
conduct examinations incidental to any related proceedings or to
the administration of the bankruptcy case;

     b. develop the relationship of the status of the Debtor to the
claims of creditors in the bankruptcy case;

     c. advise the Debtor of its rights, duties and obligations as
Debtor operating under Chapter 11 of the Bankruptcy Code;

     d. take any and all other necessary action incident to the
proper preservation and administration of the Chapter 11 case; and

     e. advise and assist the Debtor in the formation and
preservation of a plan pursuant to Chapter 11 of the Bankruptcy
Code, the disclosure statement, and any and all matter related
thereto.

Hector Eduardo Pedrosa Luna will be paid at the hourly rate of
$175. The Debtor paid the firm a retainer in the amount of $5,262.

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

Hector Eduardo Pedrosa Luna, partner of The Law Offices of Hector
Eduardo Pedrosa Luna, assured the Court that the firm is a
"disinterested person" as the term is defined in Section 101(14) of
the Bankruptcy Code and does not represent any interest adverse to
the Debtor and its estates.

Hector Eduardo Pedrosa Luna can be reached at:

     Hector Eduardo Pedrosa Luna, Esq.
     THE LAW OFFICES OF HECTOR EDUARDO PEDROSA LUNA
     P.O. Box 9023963
     San Juan, PR 00902-3963
     Tel: (787) 920-7983
     Fax: (787) 754-1109
     Email: hectorpedrosa@gmail.com

              About Ancarlo Brothers, Inc.

Ancarlo Brothers Inc., filed a Chapter 11 bankruptcy petition
(Bankr. D.P.R. Case No. 25-00089) on Jan. 14, 2025, disclosing
under $1 million in both assets and liabilities. The Debtor is
represented by THE LAW OFFICES OF HECTOR EDUARDO PEDROSA.


ANGIE'S TRANSPORTATION: Gets Interim OK to Use IRS' Cash Collateral
-------------------------------------------------------------------
Angie's Transportation, LLC and STL Equipment Leasing Co., LLC
received interim approval from the U.S. Bankruptcy Court for the
Eastern District of Missouri, Eastern Division, to use the cash
collateral of the Internal Revenue Service until Feb. 9.

The IRS asserts a pre-bankruptcy claim against Angie's in the
amount of $286,331, of which $222,677.86 of the claim is secured by
a perfected statutory lien against all of the company's right,
title and interest to property.

To the extent of any diminution in value of its collateral, the IRS
will be granted replacement liens on its collateral.

As additional protection, the agency will be granted first-position
liens on two
unencumbered trailers and will receive an initial payment of $1,500
on or before Feb. 15 and monthly payments of $1,500 thereafter.

The next hearing is scheduled for Feb. 5.

                    About Angie's Transportation

Angie's Transportation, LLC, a trucking company in St. Louis, Mo.,
and STL Equipment Leasing Co, LLC filed Chapter 11 petitions
(Bankr. E.D. Miss. Lead Case No. 24-44594) on December 16, 2024.

At the time of the filing, Angie's reported $1 million to $10
million in assets and $500,000 to $1 million in liabilities while
STL reported $1 million to $10 million in both assets and
liabilities.

Judge Brian C. Walsh handles the cases.

The Debtors are represented by Andrew Magdy, Esq., at Schmidt
Basch, LLC.


APPLIED DNA: Adjourns Special Meeting Until Feb. 14
---------------------------------------------------
Applied DNA Sciences, Inc. disclosed in a Form 8-K Report filed
with the U.S. Securities and Exchange Commission that on January
23, 2025, the Company held a special meeting of stockholders. At
the Special Meeting, an aggregate of 14,062,557 shares of the
Company's common stock were present in person or by proxy and
entitled to vote, which did not constitute a quorum determined in
accordance with the Company's By-Laws, which requires one-third of
the Company's issued and outstanding shares of Common Stock.
Accordingly, no action was taken with respect to the proposal
presented at the Special Meeting, and the Special Meeting was
adjourned until February 14, 2025, at 11:00 a.m. in order to permit
additional solicitation of stockholders and to allow stockholders
additional time to vote on the sole proposal under consideration at
the Special Meeting.

As previously reported on its Form 8-K filed on October 31, 2024,
the Company closed on such date a registered direct public offering
and concurrent private placement of common stock, series C and D
common stock purchase warrants and placement agent warrants. The
Private Placement Warrants will only be exercisable upon receipt of
such stockholder approval as may be required by the applicable
rules and regulations of the Nasdaq Capital Market. Further,
pursuant to the terms of the Securities Purchase Agreement entered
into in connection with the Offering, since the Company did not
obtain Warrant Stockholder Approval at the Special Meeting, it is
obligated to call a subsequent stockholder meeting to seek to
obtain Warrant Stockholder Approval.

                        About Applied DNA Sciences

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

Melville, NY-based Marcum LLP, the Company's auditor since 2014,
issued a "going concern" qualification in its report dated Dec. 17,
2024, citing that the Company has incurred significant losses and
needs to raise additional funds to meet its obligations and sustain
its operations.  These conditions raise substantial doubt about the
Company's ability to continue as a going concern.


ARCH THERAPEUTICS: Raises $125K in 10th Convertible Notes Closing
-----------------------------------------------------------------
Arch Therapeutics, Inc. disclosed in a Form 8-K Report filed with
the U.S. Securities and Exchange Commission that the Company
consummated a tenth closing of the Convertible Notes Offering
pursuant to the terms and conditions of the SPA with certain
institutional and accredited individual investors who have
previously purchased secured promissory notes from the Company,
providing for the issuance and sale by the Company to the Investors
2024 First Notes convertible into shares of Common Stock. The 2024
First Notes were issued as part of the Convertible Notes Offering
previously authorized by the Company's board of directors. In
connection with the Tenth Closing of the Convertible Notes
Offering, the Company issued and sold to the Investors 2024 First
Notes in the aggregate principal amount of $150,000, which includes
an aggregate $25,000 original issue discount in respect of the 2024
First Notes. The net proceeds for the sale of the 2024 First Notes
was approximately $125,000, after deducting issuance discounts. The
Tenth Closing of the sale of the 2024 First Notes under the SPA
occurred on January 16, 2025.

As previously disclosed, the Company entered into a Securities
Purchase Agreement, dated May 15, 2024, with certain institutional
and accredited individual investors who have previously purchased
secured promissory notes from the Company, providing for the
issuance and sale by the Company to the investors certain Secured
Promissory Notes convertible into shares of common stock, par value
$0.001 per share. The initial closing of the Convertible Notes
Offering occurred on May 15, 2024.

                    About Arch Therapeutics Inc.

Framingham, Mass.-based Arch Therapeutics, Inc. is a biotechnology
company focused on developing and marketing products based on its
innovative AC5 self-assembling technology platform.

Los Angeles, Calif.-based Weinberg & Company, P.A., the company's
auditor since 2024, issued a "going concern" qualification in its
report dated February 14, 2024. The report indicated that during
the year ended September 30, 2023, the company incurred a net loss
and utilized cash flows in operations, with recurring losses since
inception. These conditions raise substantial doubt about the
company's ability to continue as a going concern.

For the year ended September 30, 2023, Arch Therapeutics recorded a
net loss of $6,982,836. As of June 30, 2024, the company had
$1,397,644 in total assets, $13,958,210 in total current
liabilities, and $12,560,566 in total stockholders' deficit.


ARCON CONSTRUCTION: Hires Resolution Law Firm as Counsel
--------------------------------------------------------
Arcon Construction Corporation seeks approval from the U.S.
Bankruptcy Court for the Northern District of California to employ
Resolution Law Firm P. C as counsel.

The firm will provide these services:

   -- advise the Debtor with respect to the powers, rights, and
duties of the Debtor;

   -- assist the Debtor in complying with the procedural
requirements of the Bankruptcy Code and those of the Office of the
United States Trustee; and

   -- assist and advise the Debtor in the formulation, negotiation,
confirmation and implementation of a Chapter 11 Subchapter V Plan.

The firm will be paid at these rates:

     Sheila Gropper Nelson      $500 per hour
     Attorney                   $350 per hour
     Paralegals                 $115 per hour

The firm will be paid a retainer in the amount of $10,000.

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

Sheila Gropper Nelson, Esq., a partner at Resolution Law Firm P.C.,
disclosed in a court filing that the firm is a "disinterested
person" as the term is defined in Section 101(14) of the Bankruptcy
Code.

The firm can be reached at:

     Sheila Gropper Nelson, Esq.
     Resolution Law Firm P.C.
     50 Osgood Place, 5th Fl.
     San Francisco, CA 94133
     Tel: (415) 362-2221
     Email: Shedoesbklaw@aol.com

            About Arcon Construction Corporation

Arcon Construction Corp. operates a general construction and
development business in Daly City, Calif., which includes planning,
design, general contracting, and construction management.

Arcon filed Chapter 11 petition (Bankr. N.D. Calif. Case No.
24-30679) on Sept. 13, 2024, with up to $500,000 in assets and up
to $10 million in liabilities. Andrey Libov, chief operating
officer, signed the petition.

Judge Dennis Montali oversees the case.

The Law Offices of Eric J. Gravel represents the Debtor as
bankruptcy counsel.


ART LUXURY: Claims to be Paid From Disposable Income
----------------------------------------------------
Art Luxury Home Builder, Inc., filed with the U.S. Bankruptcy Court
for the Eastern District of California a Plan of Reorganization.

The Debtor is a closely held corporation managed by the Managing
Member, Arthur J. Ruiz, who has operated this "Project Management"
Operations ("Operations").

The Debtor manages the building of residential properties, using
other contractors. Debtor filed the instant case, after being sued
by a previous project.

The Debtor's financial projections show that the Debtor will have a
projected disposable income for the 60-month period of $2,000.00
per month.

The Debtor's income is steady and based on home building projects
and is estimated to remain steady for the term of the Plan.

Debtor's projections show a recovery to the general unsecured
creditors based on its disposable income. The debtor's liquid
assets $142,000.00, which are targeted to be used to complete, and
are subject to the project that is presently in operation, which
has an estimated dividend to unsecured creditors of 20.0%.

This Plan of Reorganization proposes to pay creditors of the Debtor
from future disposable income for a period of 60 months received
from Debtor's operation of its rental property.

This Plan provides for one class of priority claims, and (1) class
of general unsecured claims. This Plan also provides for the
payment of administrative claims.

Class 6 consists of General Unsecured Claims. This Class consists
of the Allowed Claims of Creditors other those in Classes 1, 2, 3,
4, of 5. The Debtor estimates that there is $572,632.35 in claims
in this class as of the Petition Date. This Class is impaired.

General unsecured creditors will receive monthly or quarterly pro
rate distribution after the allowance and payment of the Subchapter
V Trustee.

The Debtor shall fund the Plan with the proceeds and profits from
operating a Project Management of residential homes building.

On the Effective Date, all assets of the Debtor's estate, including
all real and personal property, all causes of action, interest,
claims, choice in action, and rights under any contracts (executory
or otherwise) against any person will re-vest and be transferred o
the post-Effective Date Debtor.

A full-text copy of the Plan of Reorganization dated January 22,
2025 is available at https://urlcurt.com/u?l=W16yCn from
PacerMonitor.com at no charge.

Attorney for the Debtor:

     Law Offices of Peter G. Macaluso
     Peter G. Macaluso, Esq.
     7230 South Land Park Drive #127
     Sacramento, CA 95831
     916-392-6591
     916-392-6590 Facsimile

                 About Art Luxury Home Builder

Art Home Builder, Inc., sought protection under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. E.D. Cal. Case No. 24-24792) on
October 24, 2024, with $100,001 to $500,000 in assets and
liabilities.

Judge Christopher D. Jaime presides over the case.

Peter G. Macaluso, Esq., is the Debtor's legal counsel.


ARTISTIC HOLIDAY: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Artistic Holiday Designs, LLC
        4417 SE 16th Pl #13
        Cape Coral, FL 33904

Business Description: Artistic Holiday Designs specializes in
                      creating innovative and captivating holiday
                      lighting displays for both commercial and
                      public spaces.  Partnering with Leblanc
                      Illuminations, they offer unique, dynamic
                      decor solutions that stand out from
                      traditional holiday decorations.  Their
                      mission is to transform holiday environments
                      into memorable destinations through
                      exceptional service, cutting-edge design,
                      and reliable technical products.

Chapter 11 Petition Date: January 29, 2025

Court: United States Bankruptcy Court
       Middle District of Florida

Case No.: 25-00153

Judge: Hon. Caryl E Delano

Debtor's Counsel: Michael Dal Lago, Esq.
                  DAL LAGO LAW
                  999 Vanderbilt Beach Rd. Suite 200
                  Naples FL 34108
                  Tel: 239-571-6877
                  Email: mike@dallagolaw.com

Total Assets: $8,777,840

Total Liabilities: $12,675,226

The petition was signed by Derek Norwood as managing member.

A full-text copy of the petition, which includes a list of the
Debtor's 20 largest unsecured creditors, is available for free on
PacerMonitor at:

https://www.pacermonitor.com/view/WJCWCXI/Artistic_Holiday_Designs_LLC__flmbke-25-00153__0001.0.pdf?mcid=tGE4TAMA


ASCENSUS GROUP: S&P Affirms 'B-' Rating on First-Lien Term Loan
---------------------------------------------------------------
S&P Global Ratings affirmed its 'B-' issue-level rating on Ascensus
Group Holdings Inc.'s revolving credit facility and first-lien term
loan, the latter of which it is upsizing by $525 million (to $2.925
billion, $2.816 billion outstanding) to fund a dividend to its
shareholders. The '3' recovery rating is unchanged, indicating
S&P's expectation for meaningful (50%-70%; rounded estimate: 50%)
recovery in the event of a payment default. S&P's 'B-' issuer
credit rating and stable outlook on the company are also
unchanged.

S&P said, "The recovery prospects for Ascensus' first-lien lenders
are unchanged in our hypothetical default scenario, despite the
increase in its first-lien debt claims, because we raised our gross
default valuation. The higher valuation reflects our more-favorable
assessment of the company following its mostly completed
integration of Newport and the reduction of the execution risk
related to that acquisition. We also considered Ascensus' recurring
revenue profile, favorable industry conditions, and large account
base, including its relationships with blue-chip asset managers,
banks, insurance companies, and regulated entities such as state
treasurers. Therefore, we revised our enterprise valuation multiple
to 6.5x from 6.0x.

"The proposed transaction is leveraging and we expect it will
increase the company's S&P Global Ratings-adjusted leverage to
approximately 9.2x from 7.5x as of Sept. 30, 2024. That said, our
'B-' issuer credit rating incorporates Ascensus' financial-sponsor
ownership, which leads to corporate decision making that
prioritizes the interests of its controlling owners, including the
occasional debt-funded dividend. Despite the increase in its
leverage, we forecast the company will generate healthy free
operating cash flow of more than $60 million in 2025 and above $120
million in 2026 supported by ongoing secular tailwinds as it
realizes the final benefits from the Newport integration. We
project Ascensus' strong performance over the next two years will
reduce its leverage below 8.0x by 2026 absent any further
leveraging transactions."

ISSUE RATINGS--RECOVERY ANALYSIS

Key analytical factors

-- Ascensus' debt capitalization will comprise a $175 million
revolving credit facility due 2026 and an upsized $2.925 billion
first-lien term loan due 2028.

-- The issuer of the debt is Ascensus Group Holdings Inc. The
first-lien credit facilities are secured by a first-priority
interest on all of the present and after-acquired assets of the
borrowers and each of the guarantors.

-- Guarantors include wholly owned U.S. restricted subsidiaries of
the borrower, subject to exclusions. Non-U.S. subsidiaries are not
guarantors.

S&P said, "Our simulated default scenario contemplates a default in
2027. It includes the following risk factors: financial strain from
high debt service requirements, regulatory changes that impair
Ascensus' retirement and government saving solutions, a
reputation-damaging information technology security breach that
results in a significant decline in cash flows due to customer
attrition, and significant declines in both the equity and
fixed-income markets."

Simulated default assumptions

-- Simulated year of default: 2027
-- EBITDA at emergence: $255 million
-- EBITDA multiple: 6.5x
-- Gross enterprise value: about $1.7 billion
-- Revolver draw at default: 85%

Simplified waterfall

-- Net enterprise value (after 5% administrative costs): About
$1.6 billion

-- Value split (obligors/nonobligors): 100%/0%

-- Value available to first-lien debt claims
(collateral/noncollateral): About $1.6 billion

-- Estimated first-lien debt claims: About $3 billion

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

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



ASMC LLC: Court Extends Cash Collateral Access to March 10
----------------------------------------------------------
ASMC, LLC received fifth interim approval from the U.S. Bankruptcy
Court for the Northern District of Illinois, Eastern Division to
use cash collateral.

The interim order authorized the company to use cash collateral
from Jan. 24 to March 10, in accordance with its budget.

Secured creditors were granted replacement liens, attaching to the
collateral, but only to the extent of their pre-bankruptcy liens,
with any valid liens attaching to the collateral and its proceeds
until further order of the court.

ASMC was ordered to maintain and pay premiums for insurance to
cover the secured creditors' collateral; properly maintain the
collateral in good repair and manage the collateral; and make
available to the secured creditors evidence of the collateral or
proceeds upon request.

The next hearing is scheduled for March 5. Objections are due by
March 3.

                           About ASMC LLC

ASMC, LLC is a fastener distributor headquartered in Libertyville,
Ill. It sells anchors, bolts and screws, nuts, washers, pins and
clips, and bearings.

ASMC sought protection under Chapter 11 of the U.S. Bankruptcy Code
(Bankr. N.D. Ill. Case No. 24-14067) with $100,000 to $500,000 in
assets and $1 million to $10 million in liabilities. Anthony J.
King, managing member, signed the petition.

Judge David D. Cleary oversees the case.

The Debtor is represented by:

  Scott R. Clar, Esq.
  Crane, Simon, Clar & Goodman
  135 South LaSalle Street, Suite 3950
  Chicago, IL 60603-4297
  Tel: 312-641-6777
  Fax: 312-641-7114
  Email: sclar@cranesimon.com


ASMC LLC: Plan Filing Deadline Extended to April 21
---------------------------------------------------
Judge David D. Cleary of the U.S. Bankruptcy Court for the Northern
District of Illinois extended ASMC, LLC's period to file a chapter
11 plan of reorganization and disclosure statement, and obtain
acceptance thereof to April 21 and June 22, 2025, respectively.

As shared by Troubled Company Reporter, the Debtor is an Illinois
limited liability company operating from 19087 W. Casey Rd.,
Libertyville, IL 60048 and is engaged in the sale and distribution
of industrial fasteners.

The Debtor's Chapter 11 case was filed as a result of litigation
instituted by several of the Debtor's creditors.

The Debtor claims that it requests the entry of any Order extending
the time for the company to file its Plan of Reorganization and
Disclosure Statement and extending the exclusive right to solicit
acceptances to allow the Debtor to assess its post-petition
cashflow with a view towards proposing a viable and consensual plan
of reorganization.

       About ASMC, LLC

ASMC, LLC is a fastener distributor headquartered in Libertyville,
Ill. It sells anchors, bolts & screws, nuts, washers, pins and
clips, and bearings.

ASMC sought protection under Chapter 11 of the U.S. Bankruptcy Code
(Bankr. N.D. Ill. Case No. 24-14067) with $100,000 to $500,000 in
assets and $1 million to $10 million in liabilities. The petition
was signed by Anthony J. King as managing member.

Judge David D. Cleary oversees the case.

The Debtor is represented by:

    Scott R Clar
    Crane, Simon, Clar & Goodman
    135 South LaSalle Street, Suite 3950
    Chicago, IL 60603-4297
    Tel: (312) 641-6777
    Fax: (312) 641-7114
    Email: sclar@cranesimon.com


AUTO GLASS: Hires Burch & Cracchiolo PA as Legal Counsel
--------------------------------------------------------
Auto Glass 2020 LLC seeks approval from the U.S. Bankruptcy Court
for the District of Arizona to employ Burch & Cracchiolo, PA as its
legal counsel.

The firm will render these services:

     (a) take necessary or appropriate actions to protect and
preserve the Debtor's estate;

     (b) provide legal advice with respect to Debtor's powers and
duties in the continued operation of its business and management of
its property;

     (c) prepare on behalf of Debtor any necessary legal papers;

     (d) appear in court on behalf of Debtor;

     (e) prepare and pursue confirmation of a plan and approval of
a disclosure statement, and such further actions as may be required
in connection with the administration of the Debtor's estate; and

     (f) act as general bankruptcy counsel for the Debtor and
perform all other necessary or appropriate legal services in
connection with this Chapter 11 case.

The firm's professionals will be paid at these hourly rates:

     Alan A. Meda, Attorney   $625
     Paralegals               $200

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

The firm received an initial retainer in the amount of $14,700.

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

The firm can be reached through:

     Alan A. Meda, Esq.
     Burch & Cracchiolo, P.A.
     1850 N. Central Ave., Suite 1700
     Phoenix, AZ 85004
     Telephone: (602) 274-7611
     Email: ameda@bcattorneys.com

              About Auto Glass 2020 LLC

Auto Glass 2020, LLC is a family-owned auto glass company serving
Phoenix, Ariz., and surrounding areas. It specializes in a variety
of services, including windshield replacement, rear window repair,
side and power window repair, chip repair, window tinting, and ADAS
calibration. The company's mobile service ensures that it comes
directly to its customers' locations for windshield replacements
and repairs.

Auto Glass 2020 sought relief under Subchapter V of Chapter 11 of
the U.S. Bankruptcy Code (Bankr. D. Ariz. Case No. 25-00374) on
January 16, 2025. In its petition, the Debtor reported total assets
of $797,330 and total liabilities of $3,669,218.

Judge Madeleine C. Wanslee handles the case.

The Debtor is represented by Alan A. Meda, Esq., at Burch &
Cracchiolo, P.A., in Phoenix, Arizona.


BENK GROUP: Seeks to Hire DeMarco·Mitchell PLLC as Counsel
-----------------------------------------------------------
The Benk Group LLC seeks approval from the U.S. Bankruptcy Court
for the Eastern District of Texas to employ DeMarco·Mitchell, PLLC
as counsel.

The firm will provide these services:

     a. take all necessary action to protect and preserve the
Estate, including the prosecution of actions on its behalf, the
defense of any actions commenced against it, negotiations
concerning all litigation in which it is involved, and objecting to
claims;

     b. prepare on behalf of the Debtor all necessary motions,
applications, answers, orders, reports, and papers in connection
with the administration of the estate herein;

     c. formulate, negotiate, and propose a plan of
reorganization;

     d. perform all other necessary legal services in connection
with these proceedings;

     e. formulate, negotiate, and propose a plan of reorganization;
and

     f. perform all other necessary legal services in connection
with these proceedings.

The firm will be paid at these rates:

     Robert T. DeMarco, Attorney      $400 per hour
     Michael S. Mitchell, Attorney    $300 per hour
     Barbara Drake, Paralegal         $125 per hour

The firm received from the Debtor a retainer in the amount of
$12,000.

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

Robert T. DeMarco, Esq., a partner at Demarco·Mitchell PLLC,
disclosed in a court filing that the firm is a "disinterested
person" as the term is defined in Section 101(14) of the Bankruptcy
Code.

The firm can be reached at:

     Robert T. DeMarco, Esq.
     Michael S. Mitchell, Esq.
     Demarco Mitchell PLLC
     12770 Coit Road, Suite 850
     Dallas, TX 75251
     Tel: (972) 578-1400
     Fax: (972) 346-6791
     Email robert@demarcomitchell.com
           mike@demarcomitchell.com

              About The Benk Group LLC

The Benk Group, LLC operates as Emerald Cut Lawn & Landscape, a
Texas-based landscaping services provider established in 1985 and
maintains operations in Celina and Cedar Hill, Texas. The company
provides residential and commercial landscaping services including
lawn care, tree trimming, and landscape design.

The Benk Group sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. E.D. Texas Case No. 25-40100) on January
14, 2025, with $1 million to $10 million in both assets and
liabilities.

Judge Brenda T. Rhoades handles the case.

The Debtor is represented by Robert DeMarco, III, Esq., at DeMarco
Mitchell, PLLC.


BERRY CORP: Appoints Jeff Magids as Principal Financial Officer
---------------------------------------------------------------
Berry Corporation disclosed in a Form 8-K Report filed with the
U.S. Securities and Exchange Commission that the Board of Directors
appointed Jeff Magids as Vice President, Chief Financial Officer
(serving as the Company's principal financial officer), effective
January 21, 2025.

Concurrently with the appointment of Mr. Magids, Michael Helm will
transition from Vice President, Chief Financial Officer and Chief
Accounting Officer to Vice President, Chief Accounting Officer and
will continue to serve as the Company's principal accounting
officer.

"I am excited to welcome Jeff to the team. His experience is well
aligned with our strategy and will help drive us forward as we
focus on a disciplined approach to delivering sustainable,
long-term growth and creating shareholder value while deleveraging
and optimizing our balance sheet," commented Fernando Araujo, Chief
Executive Officer.

"On behalf of Berry's Board of Directors and executive leadership
team, I want to thank Mike for his dedication and ongoing
contributions to our Company that have positioned us for sustained
growth and long-term success. Mike has been instrumental in
building and leading our finance and accounting teams and helping
navigate the business through significant transitions. We are
grateful for Mike's ongoing support as we execute on our strategy,"
Araujo concluded.

Jeff Magids has over 15 years of experience in the oil and gas
industry, with a significant background in financial and strategic
leadership. Mr. Magids most recently served as Vice President of
Finance & Investor Relations at SilverBow Resources, Inc. (now
Crescent Energy Company), where he was responsible for the finance,
investor relations, treasury, and risk management functions. Prior
to SilverBow, Mr. Magids served as a Senior Associate at Lime Rock
Resources. Prior to that, Mr. Magids worked in the energy
investment banking group at BMO Capital Markets. Mr. Magids started
his career in the valuation advisory practice at Duff & Phelps (now
Kroll). Mr. Magids holds a Bachelor of Business Administration in
Finance from the University of Texas at Austin and a Master of
Business Administration from Rice University.

Mr. Magids said, "I am excited to join Berry and to collaborate
with the entire team to build on their track record of strong
financial results and shareholder returns. With a world-class asset
base in California and exciting growth opportunities in Utah's
emerging Uinta Basin, Berry is well positioned to advance its
strategic goals. On top of these value creating catalysts, I look
forward to helping drive the Company's financial strategy, which is
rooted in disciplined capital deployment that generates free cash
flow while driving sustainable, long-term value for all of Berry's
stakeholders."

Mr. Magids will receive an annual base salary of $360,000. He is
eligible to participate in the Company's:

     (1) annual short-term incentive cash bonus plan with a target
opportunity equal to 70% of his base salary and
     (2) annual long-term incentive restricted stock-based plan
with an expected grant date value of $375,000, with the actual
amounts of such bonuses or equity awards and other terms and
conditions subject to the approval of the Compensation Committee of
the Company's Board of Directors at a later date.

The Company also entered into an agreement with Mr. Magids
providing that upon a termination of his employment without cause,
he is eligible to receive, among other payments and benefits:

     (i) any earned but unpaid annual bonus for the year prior to
the year in which termination occured,
    (ii) a pro-rated annual bonus for the year in which termination
occurred based on actual performance under the established
performance metrics, and
   (iii) severance in an amount equal to three months of his
current base salary.

                      About Berry Corporation

Berry Corporation is a company primarily engaged in hydrocarbon
exploration in California, the Uintah Basin, and the Piceance
Basin. As of December 31, 2021, the company had 97 million barrels
of oil equivalent of estimated proved reserves, of which 87% was
petroleum and 13% was natural gas.

As of September 30, 2024, Berry Corporation had $1.5 billion in
total assets, $784.9 million in total liabilities, and $732.2
million in total stockholders' equity.

                           *     *     *

In September 2024, S&P Global Ratings lowered its Company credit
rating to 'CCC+' from 'B-' on Dallas-based oil and gas exploration
and production (E&P) company Berry Corp. S&P also lowered the
issue-level rating on Berry's unsecured notes due February 2026 to
'B-' from 'B'. The recovery rating remains '2′, reflecting its
expectation for substantial (70%-90%; rounded estimate: 85%)
recovery in the event of a payment default.

The negative outlook reflects S&P's view that Berry is dependent on
favorable conditions to refinance its unsecured notes due February
2026 in a timely manner. However, its leverage remains modest, and
S&P forecasts average funds from operations (FFO) to debt of about
40% and debt to EBITDA of about 2.25x.

Refinancing risk is heightened for Berry's RBL facility due August
2025 and senior unsecured notes due February 2026.

In December 2024, S&P Global Ratings revised its outlook on
Dallas-based oil and gas exploration and production (E&P) company
Berry Corp. to stable from negative on the improved debt maturity
profile and affirmed the 'CCC+' Company credit rating.

S&P said, "We assigned a 'B' issue-level rating to the new
first-lien term loan. The recovery rating is '1′, reflecting our
expectation for very high (90%-100%; rounded estimate: 95%)
recovery in the event of a payment default.

"The stable outlook reflects our view that Berry will maintain
approximately flat production in 2025 as it shifts a portion of
development spend away from California's more restrictive
regulatory environment to its Utah acreage. We also expect
discretionary cash flow after mandatory debt amortization to be
slightly negative in 2025, which constrains liquidity in our view.
However, leverage remains modest and we forecast average funds from
operation (FFO) to debt of about 30% and debt to EBITDA of
2.25x-2.5x."


BERRY CORP: Moody's Assigns 'B3' CFR, Outlook Stable
----------------------------------------------------
Moody's Ratings assigned a B3 corporate family rating and a B3-PD
probability of default rating to Berry Corporation (bry) (Berry).
At the same time, Moody's assigned a B3 backed senior secured
rating to the company's new $450 million term loan and $32 million
delayed draw term loan due November 2027. The Speculative Grade
Liquidity Rating (SGL) is assigned SGL-3 and the outlook is
assigned stable. Concurrently, Moody's withdrew Berry Petroleum
Company, LLC's (BPC) B3 CFR, B3-PD PDR, SGL-3 SGL and negative
outlook following the reorganization of the company's capital
structure.

In December 2024, Berry completed a comprehensive refinancing of
its capital structure. Berry issued the new term loan and entered
into a new revolving credit facility, and used the proceeds to
fully repay its senior notes due February 2026 that were issued by
its wholly owned subsidiary, BPC, and terminate the revolving
credit facility at that subsidiary. As a result Moody's are
effectively moving the CFR, PDR and SGL ratings to Berry from BPC.

"The move to a stable outlook reflects Berry's improved liquidity
following the refinancing of the company's senior unsecured notes,"
stated Thomas Le Guay, a Moody's Ratings Vice President. "The
ongoing regulatory headwinds faced in developing Berry's asset base
in California continue to constrain the rating."

RATINGS RATIONALE

Berry's B3 CFR reflects the company's exposure to regulatory risk
and uncertainty on its core oil exploration and production
operations in California's San Joaquin Basin, including the ongoing
environmental impact report (EIR) litigation in Kern County that
triggered restrictions on the development of certain new wells in
the County and will likely continue through at least 2025. The
litigation also raises concerns around the recoverability of the
oil reserves on a large share of Berry's acreage. The CFR also
incorporates the company's modest size, limited asset
diversification, and relatively high production cost using thermal
enhanced recovery.

Berry's CFR is supported by its moderate leverage, free cash flow
generation and significant hedging of the company's oil production
and costs. Berry's low-decline Californian assets benefit from a
high oil content and steady production profile. Moody's expect
Berry's ongoing execution of workover and sidetracks opportunities
on existing wells and new well opportunities on acreage not reliant
on the Kern County EIR to allow the company to limit production
volumes declines through 2025 and generate positive free cash flow
in the current, still supportive, commodity price environment. The
company's debt facilities include a 10% per annum minimum
amortization payment and restrictions on shareholders returns that
should allow Berry to gradually reduce its debt burden.

The stable outlook reflects Moody's expectation that Berry will
maintain production volumes over the next 12 to 18 months, along
with adequate liquidity, moderate leverage and a balanced approach
to the development of its Uinta acreage.

Berry's liquidity is adequate, as indicated by its SGL-3 rating. As
of December 31, 2024, the company had $63 million of availability
under a new revolving credit facility maturing in December 2027,
and $32 million of available "delayed draw" capacity under the new
term loan. The revolver has $63 million of elected commitments and
a $95 million borrowing base, redetermined semi-annually. Moody's
expect Berry to generate small positive free cash flow at Moody's
medium-term price expectations and after accounting for the term
loan amortization and the company's substantial commodity hedging.
Berry has the option to extend the term loan maturity by up to two
years, to November 2029 at its sole discretion. The debt
facilities' maintenance covenants include a maximum leverage ratio
of 2.5x and minimum asset coverage ratio of 1.3x, tested quarterly,
and a minimum liquidity of $25 million, tested monthly. Moody's
expect Berry to remain within the stated covenant limits at least
through mid-2026.

Berry's senior secured term loan due November 2027 is rated B3, the
same as the CFR, because of the small size of the super-priority
revolver due December 2027 relative to the term loan.

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

An upgrade would require Berry to increase its production and fully
replace reserves, through the resumption of normal operations in
Kern County or substantial development of its production base in
Utah. RCF/Debt sustained above 35%, EBITDA/Interest above 5x and a
LFCR above 1.25x would be supportive of an upgrade.      

Berry's ratings could be downgraded if production volumes
meaningfully decline, liquidity deteriorates, including an
increased risk of covenant violations, if RCF/debt falls below 15%
or EBITDA/Interest falls below 3x. A ban on permitting new wells in
Kern County could also lead to a ratings downgrade.

Headquartered in Dallas, Texas, Berry Corporation (bry) is a listed
independent oil and gas exploration and production company with the
majority of its operations focused in California's San Joaquin
Basin. Berry also has smaller exploration and production operations
in the Uinta Basin of Utah and well intervention services in
California, with a focus on the State's growing plugging and
abandonment needs.

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


BIG DOG: Unsecureds Will Get 10.8% of Claims over 5 Years
---------------------------------------------------------
Big Dog LLC, d/b/a Vacuums R Us & Sewing Too, filed with the U.S.
Bankruptcy Court for the District of Colorado a Modified First
Amended Chapter 11 Plan of Reorganization for a Small Business
dated January 22, 2025.

The Debtor's business was previously owned and operated by Mr. Herb
Lawson doing business as Vacuums-R-Us ("VRU").

VRU operated a vacuum sales and repair shop from the real property
located at 5215 West 80th Avenue, Arvada, Colorado 80003 (the
"Arvada Property"). The Arvada Property was owned by Lawson
Holdings, LLC.

Ms. Dina Wolcott, the Debtor's CEO and sole member, desired to
purchase VRU and the Arvada Property since the business was well
established, had a good reputation, and essentially, was a "turn
key" operation. Mr. Lawson desired to exit the business after many
years. So, the parties negotiated a purchase of VRU, its assets and
the Arvada Property. On or about May 21, 2018, Mr. Lawson, as
seller, and Ms. Wolcott, as buyer, entered into an "Agreement to
Sell Business" (the "Agreement").

The Debtor filed for relief on April 4, 2024 under Subchapter V of
Chapter 11 of the Bankruptcy Code. The Debtor elected to be treated
as a Small Business Debtor under Subchapter V as its non contingent
and liquidated debts are less than $7,500,000.

Class 9 consists of General Unsecured Claims. The Debtor estimates
the total amount of unsecured claims, including deficiency claims
of secured creditors, to be $1,241,090.61. Class 9 shall receive a
pro-rata amount from the Creditor Fund, payable over five years
from the Effective Date of the Plan ("Repayment Term").

Commencing on the first month after the Effective Date, during the
Repayment Term, the Debtor shall, at the conclusion of each month,
set aside in a segregated account an amount equal to 50% of the
preceding month's s Net Income ("Creditor Fund"). The Creditor Fund
shall consist of the Debtor's s deposits from Net Income as well as
any proceeds from any Litigation Claims during the term of the
Plan.

Payments to Class 9 shall be on an annual basis with distributions
from the Creditor Fund commencing on the first anniversary of the
Effective Date of the Plan and continuing yearly for an additional
four years thereafter. The actual amounts may be more or less
depending on the Debtor's post-confirmation financial performance
over the Repayment Term of the Plan.

Based on the Debtor's Projections, the Debtor estimates payments
into the Creditor Fund on account of Class 9 Claims will total
approximately $124,534.00 over five years resulting in at least an
10.8% return on claims.

The Debtor will reserve 50% of its Net Income for deposit its
working capital account to be used to fund, among other things,
operating expenses, including inventory purchases, replacement of
equipment, unanticipated expenses, shortfalls in cash flow, and if
necessary, any shortfalls in payments to Classes 4, 5 and 6. On the
5th Anniversary of the Effective Date, to the extent the Debtor has
any unused funds in the working capital account, the Debtor shall
deposit all remaining funds from the working capital account into
the Creditor Fund for distribution to Allowed Class 9 General
Unsecured Claims by the Disbursing Agent. Should the Debtor not use
any of the working capital reserve, the Debtor could deposit an
additional $124,534 into the Creditor Fund for a total of $249,068.
In such event, the return to Class 9 unsecured creditors could
exceed 20%.

Class 11 includes the Membership Interests in the Debtor held by
Ms. Wolcott. Class 11 shall retain their membership interests as
they existed on the Petition Date as of the Effective Date. The
Debtor shall amend its Articles of Organization and/or its
Operating Agreement and take such other corporate action as may be
necessary to comply with the Plan.

This Plan shall be funded from two sources: (a) the Debtor's
revenues over the Repayment Term; and, (b) net proceeds from all
claims brought by the Debtors pursuant to Sections 105, 362, 541,
542, 543, 544, 547(b), 548, 549, 550 and/or 551 (the "Litigation
Claims"), after recoupment of any actual damages and payment of all
costs, including reasonable attorney's fees. All net proceeds from
Litigation Claims shall be deposited into the Creditor Fund for
payment of Class 9 Unsecured Claims.

A full-text copy of the Modified First Amended Plan dated January
22, 2025 is available at https://urlcurt.com/u?l=7Y9kFc from
PacerMonitor.com at no charge.

Counsel to the Debtor:

     K. Jamie Buechler, Esq.
     Buechler Law Office, LLC
     999 18th Street, Suite 1230-S
     Denver, CO 80202
     Telephone: (720) 381-0045
     Facsimile: (720) 381-0382
     Email: Jamie@KJBlawoffice.com

                       About Big Dog LLC

Big Dog LLC operated a vacuum sales and repair shop from the real
property located at 5215 West 80th Avenue, Arvada, Colorado 80003.

The Debtor filed its voluntary petition for Chapter 11 protection
(Bankr. D. Colo. Case No. 24-11534) on April 1, 2024, listing up to
$10 million in both assets and liabilities.

K. Jamie Buechler, Esq., at Buechler Law Office, LLC serves as the
Debtor's legal counsel.


BIOREGENX INC: Robert Doran Resigns as Director Effective Jan. 31
-----------------------------------------------------------------
BioRegenx, Inc. disclosed in a Form 8-K Report filed with the U.S.
Securities and Exchange Commission that Robert Doran submitted his
resignation from his position as director, effective January 31,
2025.

                         About BioRegenx

Chattanooga, Tenn.-based BioRegenx, Inc. develops and manufactures
medical test equipment and high quality, science-based nutritional
products. The Company distributes wellness devices. The products
are sold nationally through a direct selling channel, to health
professionals and research organizations.

As of September 30, 2024, BioRegenx had $17,361,364 in total
assets, $3,800,594 in total liabilities, and $13,560,770 in total
stockholders' equity.

                           Going Concern

The Company has recurring losses from operations and cash flow
deficits from its operations since inception and has had to raise
funds through equity offerings or borrowings to continue operating.
These factors raise substantial doubt about the Company's ability
to continue as a going concern.

The continuation of the Company as a going concern is dependent
upon its ability to obtain necessary debt or equity financing to
continue operations until it begins generating positive cash flow.
No assurance can be given that any future financing will be
available or, if available, that it will be on terms that are
satisfactory to the Company. Even if the Company is able to obtain
additional financing, it may contain undue restrictions on its
operations, in the case of debt financing or cause substantial
dilution for its stockholders, in case of equity financing.


BLUE RIBBON: Moody's Cuts CFR to 'Caa3' & Alters Outlook to Stable
------------------------------------------------------------------
Moody's Ratings downgraded Blue Ribbon, LLC's (Blue Ribbon, or
Pabst) Corporate Family Rating to Caa3 from Caa2 and Probability of
Default Rating to Caa3-PD from Caa2-PD. Moody's assigned a B3
rating to Pabst Financing NewCo, LLC's (NewCo) new $68 million
senior secured super priority first-out revolving credit facility
maturing in February 2028 and a B3 rating to NewCo's $100 million
($107 million inclusive of PIK fees and the outstanding balance on
the term loan) senior secured super-priority first-out term loan
maturing in May 2028. Concurrently, we downgraded Blue Ribbon's
existing original senior secured term loan to Ca from Caa2 due to
the term loan's now subordinate position in the significant
collateral transferred to NewCo and withdrew the Caa2 rating on the
previous revolver that was terminated as part of the transactions.
Blue Ribbon's rating outlook was changed to stable at the new
rating level from negative previously and NewCo's outlook is stable
because liquidity has improved.

On January 8, 2025, Blue Ribbon raised $107 million through the
issuance of a new super-priority first-out term loan that matures
in May 2028. Blue Ribbon created a new subsidiary, Pabst Financing
NewCo, LLC, to be the borrower of the new facilities and provided
funds to Blue Ribbon through an intercompany loan. The original $68
million revolver was replaced with a new $68 million revolver
issued by Pabst Financing NewCo, LLC that matures in February 2028.
The new revolver has a springing covenant of 6x first-out net
leverage with step downs that is tested when revolver borrowings
(or drawn letters of credit) exceed $25 million. Blue Ribbon also
received a $30 million equity contribution from its parent company,
Blue Ribbon Holdings LLC. The proceeds from the new term loan and
equity contribution were used to fully repay the existing revolver
balance and to fund a $60 million payment to City Brewing Company,
LLC (City) as part of an agreement with City to exit Pabst's beer
co-manufacturing production for certain brands at City.

The intellectual properties of nine brands plus the equity
interests in Irwindale real estate were transferred to Pabst
Financing NewCo, LLC with the new revolver and super-priority term
loan having a priority claim on collateral proceeds ahead of the
existing Blue Ribbon term loan. The NewCo facilities and the
existing term loan have a pari-passu pledge on the remaining
collateral which consists mostly of inventory and receivables.
Pabst Financing NewCo, LLC is an indirect subsidiary of Blue
Ribbon.

The downgrade reflects the increased total leverage following the
issuance of a new money super-priority first-out term loan and the
likelihood of negative free cash flow for the next two years that
will likely result in revolver utilization close to the limit of
its availability. Following issues onboarding Pabst's production at
City Brewing over the last two years, Pabst and City modified their
contract to largely exit co-manufacturing of Pabst's beer products.
Pabst entered into a 20 year agreement with Anheuser-Busch InBev
SA/NV (AB Inbev), with three 10 year renewal agreements at Pabst's
option, to produce Pabst's beer products. The production transition
from City to AB Inbev is expected to be completed by the end of Q2
2025 but there are risks around the execution of such a transition
that may result in lost volume or increased cost.

The stable outlook reflects the weak although improved liquidity as
the proceeds from the new term loan were used to pay off the $51
million balance on the existing revolver. Furthermore, the shift in
the springing covenant, to be measured against first out leverage
only, should mean that the company will not be as constrained in
its ability to use the revolver. Moody's expect the company to have
cushion under this covenant if is triggered in part due to a highly
adjusted EBITDA calculation. The stable outlook also reflects our
expectation of some volume recovery and margin improvement in 2025
after facing operational challenges at City and a labor strike at
Molson Coors' Ft. Worth, Texas facility from February to May of
2024 that led to lost volume and sales due to distributor out of
stocks, despite good end consumer demand.

RATINGS RATIONALE

Blue Ribbon's Caa3 CFR reflects its high leverage, volume declines
in the mostly mature beer portfolio, negative free cash flow
expectation over the next year and weak liquidity that elevates the
risk of a distressed exchange or other default. The rating is also
constrained by the company's small scale compared with much larger
brewing peers, and its heavy reliance on its largest brand, Pabst
Blue Ribbon (PBR), which accounts for nearly half of sales. The
company is investing to grow PBR to reverse historical volume
declines and is also launching a PBR lite version that is growing
through distribution expansion. After facing production challenges
at City Brewing (City) over the last two years, Blue Ribbon
modified its contract with City to largely exit its beer production
at City and entered into a new agreement with AB Inbev for its beer
production. Moody's expect leverage to remain elevated in the
mid-teens and cash flow to remain negative in 2025 as the
production transitions and we expect that leverage will remain
elevated in 2026 as higher interest costs and contract termination
payments still need to be covered before cash flow is fully
restored. Once beer production is fully transitioned to AB Inbev
and especially as procurement and transportation savings begin to
flow through, Moody's expect costs to decline and margins to begin
to recover. Moody's expect debt to EBITDA leverage to improve to
approximately 8x by year end 2026 with modestly positive free cash
flow. However, Moody's expect the company will still be reliant on
the revolver to meet its mandatory annual term loan amortization of
$18.4 million and future cash payments to City as part of the
contract exit agreement. There are risks around margin recovery if
the cadence and efficiency of AB Inbev's production does not go
according to plan. Furthermore, the potential for meaningful
monetization of the remaining Irwindale property, which would
provide cash inflow that would reduce leverage, is still uncertain,
and the timing of any such transaction is likely to be too distant
to help with the immediate liquidity needs. Over the longer run,
the company expects to generate revenue growth and expand margins
by shifting to a more premium product mix, managing overhead costs,
and through pricing but there is risk to achieving growth plans
given the modestly declining and competitive US beer industry.

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

The ratings could be downgraded if liquidity deteriorates,
operating performance fails to improve, or if the company fails to
restore positive free cash flow. Operational difficulties in
transitioning to a new co-packer or failure to improve efficiencies
once transitioned, failure to grow new third party relationships to
become more profitable, leveraged acquisitions or dividend
distributions could also lead to a downgrade.

The ratings could be upgraded if the company can demonstrate
meaningful and repeatable positive free cash flow, increased
margins, reduced leverage and improved liquidity. Blue Ribbon would
also need to successfully execute on its growth strategies to
support sustained top line and operating profit expansion.

COMPANY PROFILE

Headquartered in San Antonio, TX, Blue Ribbon, LLC (parent company
of Pabst Brewing Company) markets and sells a portfolio of iconic
American beer brands. Major brands in the company's portfolio
include its flagship Pabst Blue Ribbon, Lone Star, Rainier, Old
Milwaukee, Colt 45, Schlitz and Not Your Fathers. The company also
has Brown Forman's Jack Daniels Country Cocktails US business on
its platform. The company is owned by Blue Ribbon Partners, LLC, an
investment platform led by American beverage entrepreneur Eugene
Kashper. Annual net sales are over $500 million.

The principal methodology used in these ratings was Alcoholic
Beverages published in December 2021.


BYJU'S ALPHA: Voizzit Sanctioned for Interfering in Chapter 11 Case
-------------------------------------------------------------------
Emily Lever of Law360 Bankruptcy Authority reports that on January
29 a Delaware bankruptcy judge imposed daily sanctions of $25,000
on Voizzit Technology Private Ltd. for disrupting the Chapter 11
proceedings of three bankrupt subsidiaries of Byju's, the Indian
educational technology giant.

The court found Voizzit in contempt of a temporary restraining
order, according to the report.

             About BYJU's Alpha

BYJU's Alpha, Inc., designs and develops education software
solutions.

The Debtor sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. D. Del. Case No. 24-10140) on Feb. 1, 2024. In the
petition signed by Timothy R. Pohl, chief executive officer, the
Debtor disclosed up to $1 billion in assets and up to $10 billion
in liabilities.

Judge John T. Dorsey oversees the case.

Young Conaway Stargatt & Taylor, LLP and Quinn Emanuel Urquhart &
Sullivan, LLP serve as the Debtor's legal counsel.

GLAS Trust Company LLC, as DIP Agent and Prepetition Agent, is
represented in the Debtor's case by Kirkland & Ellis LLP, Pachulski
Stang Ziehl & Jones, and Reed Smith.


CAPSTONE COMPANIES: Appoints Brian Rosen to Board of Directors
--------------------------------------------------------------
Capstone Companies, Inc. disclosed in a Form 8-K Report filed with
the U.S. Securities and Exchange Commission that on January 20,
2025, Brian Rosen was appointed as a non-employee director of the
Company. His appointment fills an existing vacancy on the Company's
Board of Directors. The Company and Mr. Rosen signed an Offer
Letter, dated January 10 for his appointment as a director, which
appointment was effective upon ratification by Company's Board of
Directors Offer Letter on January 20.

Mr. Rosen has extensive experience in marketing, business
development, contract negotiation and government relations as well
as experience as a member of two public companies' management. He
served as:

     * Senior Vice President, Global Market Access, Public Policy &
Alliances (2021 – 2023),
     * Senior Vice President, Commercial Strategy (2018 - 2021)
and
     * Vice President, Market Access, Policy, & Government Affairs
(2015 - 2017) with Novavax, Inc. (NASDAQ: NVAX).

Before Novavax, Inc., Mr. Rosen served as:

     * Chief Policy, Advocacy & Patient Services Officer (2014 -
2015),
     * Senior Vice President, Public Policy (2013 - 2014) and
     * Vice President, Legislative and Regulatory Affairs (2012 -
2013) for the Leukemia & Lymphoma Society, Washington, D.C. He also
has a J.D. degree from Hofstra University School of Law.

"Brian is skilled at pursuing new business opportunities and
developing resulting revenue streams and in negotiating contracts.
He has a record of accomplishment in the pursuit of revenue
generating opportunities. I believe his skills, coupled with
government relations and public company experience, will prove
valuable to Capstone Companies' efforts to establish a new business
line and pursue a growth strategy for year-round social, fitness
and health programs and facilities," said Stewart Wallach, Chair of
the Company's Board of Directors.

The compensation of Mr. Rosen as a director will be incentive
stock-based compensation to be determined by the Compensation and
Nomination Committee of the Company's Board of Directors in early
2025.

                    About Capstone Companies Inc.

Deerfield Beach, Fla.-based Capstone Companies, Inc. is a public
holding company organized under the laws of the State of Florida.
The Company is a designer, manufacturer and marketer of consumer
products that are designed to simplify daily living through
technology.

Margate, Fla.-based Assurance Dimensions, the Company's auditor
since 2023, issued a "going concern" qualification in its report
dated March 29, 2024, citing that the Company has incurred
recurring operating losses, has incurred negative cash flows from
operations and has an accumulated deficit. These and other factors
raise substantial doubt about the Company's ability to continue as
a going concern.

As of September 30, 2024, Capstone Companies had $1,378,848 in
total assets, $4,102,475 in total liabilities, and $2,723,627 in
total stockholders' deficit.


CAPSTONE COMPANIES: Signs Engagement Deal With Eschenburg Perez
---------------------------------------------------------------
Capstone Companies, Inc. disclosed in a Form 8-K Report filed with
the U.S. Securities and Exchange Commission that it entered into an
engagement agreement with Eschenburg Perez, CPA LLC for continued
provision of outsourced chief financial officer and related
accounting services, which services are primarily provided by EPEC
principal Dana Eschenburg Perez as interim/fractional chief
financial officer. Engagement Agreement provides for an hourly bill
rate of $275 for following services:

     * Assist with year-end audit of December 31, 2024, subsequent
Form 10Q's for each quarter, signing and filing as the Company's
acting chief financial/accounting officer.

     * Liaison with the Company and public auditor team for
requested schedules, supporting documentation, etc.

     * Review and approve supporting audit schedules and internal
control assessments and updating as necessary.

     * Prepare technical memos regarding complex or unusual
accounting transactions, as necessary.

     * Prepare, review and approve proposed journal entries as
necessary.

     * Perform ad-hoc accounting duties as requested by Chief
Executive Officer.

     * Oversee and review work prepared by any outsourced
Controller.

The Engagement Agreement continues the services provided to the
Company by EPEC and Ms. Perez since February 6, 2022.

                    About Capstone Companies Inc.

Deerfield Beach, Fla.-based Capstone Companies, Inc. is a public
holding company organized under the laws of the State of Florida.
The Company is a designer, manufacturer and marketer of consumer
products that are designed to simplify daily living through
technology.

Margate, Fla.-based Assurance Dimensions, the Company's auditor
since 2023, issued a "going concern" qualification in its report
dated March 29, 2024, citing that the Company has incurred
recurring operating losses, has incurred negative cash flows from
operations and has an accumulated deficit. These and other factors
raise substantial doubt about the Company's ability to continue as
a going concern.

As of September 30, 2024, Capstone Companies had $1,378,848 in
total assets, $4,102,475 in total liabilities, and $2,723,627 in
total stockholders' deficit.


CAYMUS FUNDING: Gets OK to Use Cash Collateral Until Feb. 24
------------------------------------------------------------
Caymus Funding Inc. received interim approval from the U.S.
Bankruptcy Court for the Northern District of Georgia, Atlanta
Division, to use cash collateral from Jan. 30 to Feb. 24.

The company requires the use of cash collateral to pay operating
expenses.

Caymus Funding believes that Bank of Michigan may assert a security
interest in the accounts and revenues of the company derived from
the operation of its business. The company does not concede that
the lender has a valid security interest in cash and accounts at
this time.

As adequate protection, Bank of Michigan was granted replacement
lien on all property acquired by Caymus Funding after the petition
date that is the same or similar nature, kind, or character as the
lender's respective pre-bankruptcy collateral

A final hearing is set for Feb. 24.

                     About Caymus Funding Inc.

Caymus Funding Inc. sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. N.D. Ga. Case No. 25-50713) on January 23,
2025. In the petition signed by Clifford Hardwick, president and
chairman, the Debtor disclosed up to $10 million in assets and up
to $50 million in liabilities.

Scott Riddle, Esq., at Law Office of Scott B. Riddle, LLC,
represents the Debtor as legal counsel.


CELESTIAL PRODUCTS: Hires Lane Law Firm PLLC as Counsel
-------------------------------------------------------
Celestial Products USA LLC seeks approval from the U.S. Bankruptcy
Court for the Northern District of Texas to employ The Lane Law
Firm, PLLC as counsel.

The firm will provide these services:

     (a) assist, advise and represent the Debtor relative to the
administration of the Chapter 11 case;
  
     (b) assist, advise and represent the Debtor in analyzing its
assets and liabilities, investigating the extent and validity of
lien and claims, and participating in and reviewing any proposed
asset sales or dispositions;

     (c) attend meetings and negotiate with the representatives of
the secured creditors;

     (d) assist the Debtor in the preparation, analysis, and
negotiation of any plan of reorganization and disclosure statement
accompanying any plan of reorganization;

     (e) take all necessary action to protect and preserve the
interests of the Debtor;

     (f) appear, as appropriate, before this court, the appellate
courts, and other courts in which matters may be heard and to
protect the interests of the Debtor before said courts and the
United States Trustee; and

     (g) perform all other necessary legal services in this case.

The firm will be paid at its hourly rates:

     Robert Lane, Attorney         $595
     Joshua Gordon, Associate      $550
     Associate Attorneys           $500
     Paraprofessionals             $250

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

The firm received payments from August 28, 2024 through December 5,
2024 for its retainer from the Debtor totaling $45,000.

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

The firm can be reached through:

     Robert C. Lane, Esq.
     The Lane Law Firm, PLLC
     6200 Savoy, Suite 1150
     Houston, TX 77036
     Telephone: (713) 595-8200
     Facsimile: (713) 595-8201
     Email: notifications@lanelaw.com

              About Celestial Products USA LLC

Celestial Products USA, LLC is an online retail business based in
Fort Worth, Texas.

Celestial Products USA sought relief under Subchapter V of Chapter
11 of the U.S. Bankruptcy Code (Bankr. N.D. Texas Case No.
25-40153) on January 16, 2025. In its petition, the Debtor reported
up to $50,000 in assets and between $1 million and $10 million in
liabilities.

Judge Mark X. Mullin handles the case.

The Debtor is represented by Robert Lane, Esq., at The Lane Law
Firm, PLLC.


CIMG INC: Completes $10-Mil. Convertible Note and Warrant Offering
------------------------------------------------------------------
As previously disclosed in the Current Report on Form 8-K filed by
the Company with the SEC on December 17, 2024, on December 12, CIMG
Inc. entered into a convertible note and warrant purchase agreement
with certain non U.S. investors, providing for the private
placement of convertible promissory notes in the aggregate
principal amount of $10,000,000 and warrants to purchase up to an
aggregate of 25,641,023 shares of the Company's common stock, par
value $0.00001 per share in reliance on the registration exemptions
of Regulation S.

The Notes bear interest at an annual rate of 7% and have a maturity
date of one year from the issuance date. The Notes shall not be
converted, and the Warrants may not be exercised until the Company
obtains shareholder approval for the issuance of shares underlying
the Notes and the Warrants. Upon obtaining such approval, the
holder may convert the Notes into a number of shares of Common
Stock equal to (i) the outstanding principal amount of the Notes,
plus any accrued but unpaid interest, divided by (ii) $0.52, the
conversion price. The exercise price of the Warrants is $0.39 per
share of Common Stock.

On December 12, 2024, in connection with the Purchase Agreement,
the Company entered into a Registration Rights Agreement with the
Investors. The Company shall prepare and, as soon as practicable,
but in no event later than 30 days subsequent to the filing of the
Form 10-K for its audited financial statements for the fiscal year
ended September 30, 2024, or five business days after the approval
by the Company's stockholders of the transactions contemplated in
the Purchase Agreement, whichever is later, file with the SEC an
initial Registration Statement on Form S-1 covering the resale of
all of the registrable securities, which includes all conversion
shares from the conversion of the Notes and warrant shares from the
exercise of the Warrants.

The closings of the sale of the Notes and Warrants occurred on
January 16 and 17, 2025. Pursuant to the Purchase Agreement, the
Company issued six Notes with an aggregate principal amount of
$10,000,000 to six non-U.S. investors, following receipt of the
respective purchase amounts. In conjunction with the issuance of
the Notes, the Company also issued Warrants to purchase an
aggregate of 25,641,023 shares of common stock to these investors.
Upon the completion of the foregoing, the sale of all Notes and
Warrants, in the aggregate principal amount of $10,000,000,
pursuant to the Purchase Agreement, has been duly consummated and
closed.

                          About CIMG Inc.

Headquartered in Vista, California, CIMG Inc. (formerly Nuzee,
Inc.) is a digital marketing, sales and distribution company for
various consumer products with focuses on food and beverages.
Dedicated to reshaping the digital marketing and distribution with
technological applications, the Company endeavors to create greater
commercial value for its business partners and therefore enhance
its own enterprise value and shareholders' value of their stake in
the Company.  The Company has a professional brand and marketing
management system, which can quickly help partnering enterprises
achieve the connection, management, and operation of marketing
channels domestically and globally.

"The Company has had limited revenues, recurring losses and an
accumulated deficit.  These items raise substantial doubt as to the
Company's ability to continue as a going concern.  The accompanying
consolidated financial statements do not include any adjustments
that might result from the outcome of this uncertainty," said Nuzee
in its Quarterly Report for the period ended June 30, 2024.

The Company has not yet filed its Form 10-K for the fiscal year
ended Sept. 30, 2023.


CLEAN ENERGY: Sells $1.47-Mil. Securities to Mast Hill Fund
-----------------------------------------------------------
Clean Energy Technologies, Inc. disclosed in a Form 8-K Report
filed with the U.S. Securities and Exchange Commission that it
entered into a securities purchase agreement with Mast Hill Fund,
L.P., a Delaware limited partnership, pursuant to which the Company
sold, and Mast Hill purchased:

     (i) a junior secured convertible promissory note in the
principal amount of $1,637,833.33, and
    (ii) warrants to purchase 818,917 shares of Company common
stock, for an aggregate purchase price of $1,474,050.

The Transaction closed on January 16, 2025, and on such date
pursuant to the SPA, Mast Hill's legal expenses of $22,000 were
paid from the gross purchase price, Mast Hill was paid $852,406.35
as payment in full of that certain promissory note issued by the
Company to Mast Hill on or about September 10, 2024, and
subsequently amended on or about December 11, 2024, and the Company
receiving net funding of $308,051.20, and the Note and Warrants
were issued to Mast Hill.

The SPA includes customary representations, warranties and
covenants by the Company and customary closing conditions. The SPA
requires that the proceeds from the Transaction be used for the
payment of $852,406.35 to Mast Hill for the payment in full of the
September 10th Mast Hill Note, working capital, and business
development, but not for repayment of indebtedness owed to
officers, directors or employees of the Company or their
affiliates, the repayment of any debt issued in corporate finance
transactions, any loan to or investment in any other corporation,
partnership, enterprise or other person (except in connection with
the Company's currently existing operations), or any loan, credit,
or advance to any officers, directors, employees, or affiliates of
the Company. The SPA also:
     
     (i) requires the Company to hold a special meeting of its
shareholders, on or before the date that is 60 calendar days after
the first date (after the date of the SPA) that the Company's
common stock has traded at a price per share of less than $0.50,
for the purpose of obtaining shareholder approval to issue shares
of Company common stock to Mast Hill in excess of the Exchange Cap,
pursuant to Nasdaq's listing rules, and
    (ii) prohibits the issuance of more than 9,156,726 shares of
Company common stock to Mast Hill in the aggregate until
shareholder approval has been obtained.

The Note matures 12 months following the issue date, accrues
guaranteed interest of 10% per annum (with the first 12 months of
interest guaranteed and earned in full as of issuance of the Note),
and is secured by a junior security interest (subordinate to the
Company's senior secured lender, Nations Interbanc) in all of the
assets of the Company. The Note is convertible into shares of the
Company's common stock at the election of the holder at a
conversion price equal to the lesser of:

     (i) $2.50/share, or
    (ii) 90% of the lowest dollar volume-weighted average price
(during the period from 9:30 a.m. to 4 pm ET) on any trading day
during the 5 trading days prior to the conversion date; provided,
however, that the holder may not convert the Note to the extent
that such conversion would result in the holder's beneficial
ownership of the Company's common stock being in excess of 4.99% of
the Company's issued and outstanding common stock.

Additionally, the holder of the Note is entitled to deduct $1,750
from the conversion amount in each note conversion to cover the
holder's fees associated with the conversion.

The Warrants have a 5-year term, are exercisable on a cashless
basis, and have an exercise price of $2.50, subject to adjustment
as provided in the Warrants.

                       About Clean Energy

Headquartered in Irvine, California, Clean Energy Technologies,
Inc. -- http://www.cetyinc.com-- develops renewable energy
products and solutions and establishes partnerships in renewable
energy that make environmental and economic sense.  The Company's
mission is to be a segment leader in the Zero Emission Revolution
by offering eco-friendly energy solutions, clean energy fuels, and
alternative electric power for small and mid-sized projects in
North America, Europe, and Asia.  The Company targets sustainable
energy solutions that are profitable for it, profitable for its
customers, and represent the future of global energy production.

Diamond Bar, California-based TAAD, LLP, the Company's auditor
since 2023, issued a "going concern" qualification in its report
dated April 16, 2024, citing that the Company has an accumulated
deficit, a working capital deficit, and negative cash flows from
operations.  These factors, among others, raise substantial doubt
about the Company's ability to continue as a going concern.


CLEARWAY ENERGY: Moody's Affirms 'Ba2' CFR, Outlook Stable
----------------------------------------------------------
Moody's Ratings affirmed Clearway Energy, Inc.'s Ba2 Corporate
Family Rating and Ba2-PD Probability of Default rating, as well as
Clearway Energy Operating LLC's (Clearway Operating) Ba2 senior
unsecured rating. Clearway Operating is the principal operating
subsidiary of Clearway, which holds all the operating projects and
is responsible for all debt obligations outside of the project
debt. Clearway's speculative grade liquidity (SGL) rating is also
unchanged at SGL-2. The rating outlooks of both entities are
stable.

RATINGS RATIONALE

"Clearway is looking at a stable operating and financial
performance while it continues to execute on its growth strategy,"
said Jillian Cardona, Moody's Ratings AVP-Analyst. Moody's expect
Clearway to continue to maintain a run rate ratio of consolidated
debt to EBITDA around 6.5x-7.0x over the next 2-3 years.

Clearway's Ba2 rating is underpinned by its stable cash flow
generation from a diversified portfolio of renewable and
conventional power projects, with a renewables weighted average
contract life by cash available for distribution (CAFD) of about 12
years, and predominantly investment grade counterparties. These
credit strengths are offset by a leveraged financial profile that
constrains credit quality. Clearway continues to grow its renewable
portfolio by acquiring assets financed through a combination of
both debt and equity. Clearway Energy Group LLC, which holds a
controlling voting interest in Clearway and is also a renewable
energy developer, currently has around 9.1 GW of late-stage
projects in development for the period 2024-2029, providing a
strong pipeline of renewable asset dropdown opportunities for
Clearway.

Clearway has been able to maintain a solid financial profile while
pursuing its growth strategy, a credit strength. For the three-year
average ending 30 September 2024, Clearway's ratio of cash flow
from operations before changes in working capital (CFO pre-W/C) to
debt was 10.5% and Moody's expect financial metrics to remain
relatively stable including CFO pre-W/C to debt in the 8%-10% range
over the next few years. At the same time, Clearway's leverage as
measured by consolidated debt to EBITDA was about 7.0x for the
twelve-months ended September 30, 2024. Moody's expect Clearway's
consolidated debt to EBITDA ratio to remain in the 6.5x-7x range
over the next two years. Clearway averages around an 80%-85%
dividend payout ratio, a level that is in line with its current
ratings.

Clearway's rating is tempered by geographic concentration due to
around 60% of its CAFD that is derived from selling power to
investor-owned utilities (IOUs) in California. Due to the risk of
catastrophic wildfires, Clearway's exposure to California IOUs
faces a higher degree of physical climate risk. Pacific Gas &
Electric Company (PG&E, Baa2 first mortgage bonds, positive) and
Southern California Edison Company (SCE, Baa1 stable), two of
Clearway's largest off-takers, have both experienced several
catastrophic wildfires since 2017. However Moody's note that when
PG&E emerged from bankruptcy in July 2020, Clearway received all of
the previously trapped cash that was withheld at the projects
during the duration of PG&E's bankruptcy proceedings. SCE's cash
flow contribution to Clearway is very high, contributing over 35%
of total CAFD.

LIQUIDITY

Clearway has good liquidity, as reflected in its SGL-2 speculative
grade liquidity rating. Moody's expect the company will generate
solid free cash flow in 2025 and 2026 of about $150 million per
year. Additionally, as of September 30, 2024, the company had $90
million of unrestricted cash on hand and a $700 million revolving
credit facility with $592 million available. As of September 30,
2024, there were no outstanding borrowings and $108 million of
letters of credit outstanding under the credit facility. Clearway
Energy's revolving credit facility is sized to accommodate both
operational liquidity and also provide bridge funding for new
acquisitions.

OUTLOOK

Clearway's stable outlook reflects its consistent cash flow
generation that Moody's expect to continue, as well as its diverse
portfolio of projects. The stable outlook incorporates Moody's
expectation that Clearway will finance acquisitions in a way that
does not significantly increase leverage or worsen liquidity.
Moody's outlook also considers the credit profiles of the
California utilities and their ability to manage wildfire risk and
maintain credit quality.

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

FACTORS THAT COULD LEAD TO AN UPGRADE

An upgrade could be considered if its CFO Pre-WC to consolidated
debt rises to the mid-teens or should consolidated debt to EBITDA
fall to 5.5x or below.

FACTORS THAT COULD LEAD TO A DOWNGRADE

A negative rating action could occur if Clearway's consolidated
debt to EBITDA is sustained above 7.5x, or if CFO Pre-W/C to
consolidated debt falls below 8% on a sustained basis, or if the
cash flow from its projects proves to be more volatile or less
resilient than Moody's expectations. A downgrade can also occur if
the company modifies its financing strategy in a way that
negatively impacts credit quality, such as the use of additional
leverage to finance growth. A significant credit deterioration of
the California utilities to which it sells power, especially
Southern California Edison Company (Baa1 stable), could also lead
to a negative rating action.

LIST OF AFFECTED RATINGS

Issuer: Clearway Energy, Inc.

Affirmations:

LT Corporate Family Rating, Affirmed Ba2

Probability of Default Rating, Affirmed Ba2-PD

Outlook Actions:

Outlook, Remains Stable

Issuer: Clearway Energy Operating LLC

Affirmations:

Backed Senior Unsecured, Affirmed Ba2

Outlook Actions:

Outlook, Remains Stable

PROFILE

Clearway is a subsidiary yieldco of Clearway Energy Group LLC
(Clearway Group), which is sponsored by Global Infrastructure
Partners (GIP) and TotalEnergies SE (Aa3 stable). As of October 01,
2024, GIP is now owned by BlackRock, Inc. (Aa3 negative). Based on
Clearway Group's ownership of Class B and D shares, it has a
controlling voting interest in Clearway while its economic interest
is 41.9% as of September 30, 2024.

Clearway owns a portfolio of renewable and conventional generation
infrastructure projects, primarily located in the Northeast,
Southwest and California regions of the US The company has
interests in an approximate gross 12 GW asset portfolio that
consists of wind, solar, battery energy storage system and natural
gas-fired power generation facilities. Clearway's market cap is
around $5 billion.

The principal methodology used in these ratings was Unregulated
Utilities and Unregulated Power Companies published in December
2023.


COLLEGE OF SAINT ROSE: Seeks to Extend Plan Exclusivity to March 24
-------------------------------------------------------------------
The College of Saint Rose asked the U.S. Bankruptcy Court for the
Northern District of New York to extend its exclusivity periods to
file a plan of reorganization and obtain acceptance thereof to
March 24 and May 23, 2025, respectively.

The Debtor explains that the instant chapter 11 case is one of
considerable size and complexity. Indeed, and as set forth in
Debtor's petition and schedules, the assets and liabilities of
Debtor's estate are extensive. Furthermore, the various
constituencies in this case are diverse, ranging from governmental
entities, bondholders, trade creditors, contract vendees and
utility providers, each having differing needs and interests to be
addressed by the Debtor.

The Debtor believes that it has made significant progress in good
faith towards achieving this goal. Primarily, Debtor successfully
obtained Court approval to sell the campus to the Land Authority,
the proceeds of which is the largest estate asset that will be
utilized in part to fund a plan of reorganization. Additionally,
Debtor and its counsel have been actively involved in the
administration of the instant chapter 11 case rather than acting as
a passive participant.

The Debtor claims that it has been paying its post-petition bills
as they become due and complying on a timely basis with all other
post-petition obligations of a debtor-in-possession. Debtor's
employees are continuing to provide labor and Debtor has remained
current on its obligations in that regard. The requested extension
of the Exclusive Periods will not jeopardize the rights of
creditors and other parties who do business with Debtor during this
chapter 11 case.

The Debtor asserts that it has a framework for the plan, which will
be one of liquidation. It only needs additional time to finalize
the preparation to the plan documents and file same with the
Court.

The Debtor further asserts that its request to extend the Exclusive
Periods is not intended to maintain leverage over a group of
creditors whose interests are being harmed by the chapter 11 case.
Rather, Debtor is seeking an extension so that it may devote the
resources required to propose a confirmable plan that is in the
best interest of all parties in interest after having had, up to
this point, to use such resources to ensure the uninterrupted
continuation of its business affairs.

The College of Saint Rose is represented by:

     Matthew G. Roseman, Esq.
     Bonnie L. Pollack, Esq.
     Cullen and Dyman LLP
     80 State Street, Suite 900
     Albany, NY 12207
     Tel: (516) 357-3700
     Email: mroseman@cullenllp.com
            bpollack@cullenllp.com

                  About College of Saint Rose

College of Saint Rose -- https://strose.edu -- is a New York-based
college.

College of Saint Rose sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. N.D.N.Y. Case No. 24-11131) on October 10,
2024. In the petition filed by Marcia J. White, as president the
Debtor reports estimated assets between $1 million and $10 million
and estimated liabilities between $50 million and $100 million.

The Debtor is represented by Cullen and Dykman LLP.  Heller
Kauffman LLP is special counsel.  FTI Consulting Inc. is financial
advisor.


COMTECH TELECOMMUNICATIONS: Adds 2.195M Shares Under Equity Plan
----------------------------------------------------------------
Comtech Telecommunications Corp. filed a Registration Statement on
Form S-8 with the U.S. Securities and Exchange Commission, for the
purpose of registering 2,195,000 shares of common stock, par value
$0.10 per share, of the Company that may be issued under the
Comtech Telecommunications Corp. 2023 Equity and Incentive Plan,
which shares of Common Stock are in addition to the shares of
Common Stock registered on the Company's Form S-8 previously filed
with the Commission on December 18, 2023 (File No. 333-276126).

A full-text copy of the Registration Statement is available at:

                  https://tinyurl.com/53r9n2p9

                  About Comtech Telecommunications Corp.

Headquartered in Chandler, Arizona, Comtech Telecommunications
Corp. -- www.comtech.com -- is a global provider of next-generation
911 emergency systems and secure wireless and satellite
communications technologies. This includes the critical
communications infrastructure that people, businesses, and
governments rely on when durable, trusted connectivity is required,
no matter where they are – on land, at sea, or in the air – and
no matter what the circumstances from armed conflict to a natural
disaster. The Company's solutions are designed to fulfill its
customers' needs for secure wireless communications in the most
demanding environments, including those where traditional
communications are unavailable or cost-prohibitive, and in
mission-critical and other scenarios where performance is crucial.

Jericho, New York-based Deloitte & Touche LLP, the Company's
auditor since 2015, issued a "going concern" qualification in its
report dated Oct. 30, 2024, citing that the Company has suffered
recurring losses and negative cash outflows from operations, and
may be unable to maintain compliance with financial covenants
required by its credit agreement that raise substantial doubt about
its ability to continue as a going concern.

Comtech Telecommunications disclosed $793,203,000 in total assets,
$494,139,000 in total liabilities, and $150,364,000 in total
stockholders equity at October 31, 2024.


CONCENTRA GROUP: Moody's Affirms 'Ba3' CFR, Outlook Stable
----------------------------------------------------------
Moody's Ratings affirms Concentra Group Holdings Parent, Inc.'s Ba3
corporate family rating, Ba3-PD probability of default rating. At
the same time, Moody's downgrades Concentra's senior secured first
lien bank credit facilities to Ba2 from Ba1 and senior unsecured
notes to B2 from B1. The outlook is stable. There is no change on
the speculative grade liquidity rating of SGL-1.

This rating action follows the announcement that Concentra will
acquire Nova Medical Centers ("Nova"), a regional leader in the
occupational health industry, for $265 million. Concentra plans to
finance the acquisition with $115 million of cash, a $100 million
fungible add-on to Concentra's existing Term Loan B due 2031, and a
$50 million draw on Concentra's existing Revolving Credit Facility
due 2029 while concurrently upsizing the revolver by $50 million.
The acquisition is expected to close by the end of the first
quarter of 2025.

The affirmation of the Ba3 CFR reflects Moody's expectations that
the company will continue to experience organic revenue growth in
the mid single digits and margin expansion given the company's
technology investments, and new centers maturation. While the
transaction will increase leverage, the increase will only be about
1/10th of a turn, and the acquisition is considered strategically
sensible as Nova has a complementary portfolio. The acquisition of
Nova will further build out the platform, expanding into new
geographies and adding density in key states like Texas. Further,
Moody's forecast that Concentra will be able to de-lever as
synergies are realized.

The downgrade of the facility ratings follows the change in mix of
secured and unsecured debt, with a reduction in loss absorption
previously provided by the company's senior notes. The Ba2 rating
on the first lien senior secured bank credit facilities is one
notch above the Ba3 CFR. This reflects the loss absorption provided
by the unsecured debt in Concentra's pro forma capital structure.
The B2 rating on the senior unsecured notes is two notches below
the CFR and reflects their junior position in the capital
structure.

RATINGS RATIONALE

Concentra's Ba3 CFR broadly reflects Concentra's leading market
position and established track record in the occupational health
space. The company also benefits from its diversified geographic
footprint and stable reimbursement environment that does not rely
on government reimbursement. The rating is constrained by the
company's lack of track record as a stand-alone entity and elevated
financial leverage of approximately 4.2x LTM September 30, 2024 pro
forma for the transaction. Moody's forecast that leverage will
improve to below 4.0x by the end of 2025 given the company's
organic revenue growth, minimal capital expenditures and cost
saving initiatives.

The speculative grade liquidity rating of SGL-1 reflects Moody's
expectation of very good liquidity over the next 12-18 months.
Concentra will have about $70 million of pro forma cash as of
September 30, 2024, and $50 million drawn under the proposed $450
million upsized senior secured first lien revolving credit
facility. Moody's anticipate about $120-$150 million of annual free
cash flow. Moody's forecast the company will maintain net leverage
below the 6.5x total net leverage covenant. The company will draw
$50 million on the upsized revolver to fund the acquisition, but
there would still be a comfortable cushion. Concentra has limited
capacity to sell assets to raise cash given that most of its
facilities are leased and it is a service provider.

The stable outlook reflects Moody's expectation that Concentra will
be able to deliver earnings growth with strong and consistent free
cash flow throughout the projection period. The stable outlook also
reflects Moody's expectation that the company will sustain credit
metrics that are supportive of the Ba3 rating.

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

The ratings could be upgraded if Concentra sustains debt/EBITDA
below 3.25 times while maintaining very good liquidity. Greater
levels of business diversity could support a higher rating level.
Additionally, Concentra must be able to maintain its operating
margins.

The ratings could be downgraded if liquidity weakens or if
Concentra experiences a deterioration in operating performance/
margins. A downgrade could also occur if the company makes a
material debt-funded acquisition or shareholder initiative, or if
debt/EBITDA is sustained above 4.25 times.

Concentra Group Holdings Parent, Inc. the largest provider of
occupational health services in the United States. As of September,
2024, Concentra operated 549 stand-alone occupational health
centers in 45 states and 157 onsite health clinics at employer
worksites in 37 states. Concentra also provides telemedicine and
pharmacy services which support its core business. Concentra's
revenue was approximately $1.8 billion for the LTM September 30,
2024.

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


COSMOS HEALTH: Inks Patent License Deal With DocPharma
------------------------------------------------------
Cosmos Health Inc. disclosed in a Form 8-K Report filed with the
U.S. Securities and Exchange Commission that the Company and
DocPharma Single SA. (Greece) a related party, entered into a
Patent and Technology License Agreement whereby Licensor granted
the Company a royalty-bearing, exclusive worldwide license to
actively commercialize at least one of two patents for treatment of
cancer through research and preclinical and clinical trials
(including CDA, clinical studies Phase I, II, III) for the life of
the patents or 20 years, whichever is longer.

Patent #1 was filed in 2016 and Patent #2 was filed in 2017. The
Company was granted the right to sublicense.

The Company has an optional buy-out right for the total amount of
EUR 7,500,000, constituting EUR 4,000,000 for Patent 1 and EUR
3,500,000 for Patent 2 exercisable throughout the term subject to
60-day notice and a 60-day close.  

The Company will pay Licensor a running royalty consisting of:

     * an initial payment of $500,000 to be paid by year end of
2024;
     * for the five year term of 2025 to 2030, a fixed amount of
EUR 350,000 per annum;
     * and after the Start-Up Term, 1.5% of annual Net Sales for
Licensed Products covered by an issued patent.

All payments during the Start-Up Term are payable annually within
30 days of year end, and thereafter within 30 days of finalization
of financial statements.  Any time after the 5th year of the
Effective Date. The Company has the right to terminate for
convenience subject to 30-day notice.  Licensor may terminate for
breach or default by the Company if not cured within 60 days or
upon the Company's bankruptcy, insolvency or receivership. The
Agreement is governed by New York law and is subject to New York
courts.  

                      About Cosmos Health Inc.

Cosmos Health Inc. (Nasdaq: COSM), incorporated in 2009 in Nevada,
is a diversified, vertically integrated global healthcare group.
The Company owns a portfolio of proprietary pharmaceutical and
nutraceutical brands, including Sky Premium Life, Mediterranation,
bio-bebe, and C-Sept. Through its subsidiary, Cana Laboratories
S.A., which is licensed under European Good Manufacturing Practices
(GMP) and certified by the European Medicines Agency, it
manufactures pharmaceuticals, food supplements, cosmetics,
biocides, and medical devices within the European Union.

Cosmos Health also distributes a broad line of pharmaceuticals and
parapharmaceuticals, including branded generics and OTC
medications, to retail pharmacies and wholesale distributors
through its subsidiaries in Greece and the UK. Furthermore, the
Company has established R&D partnerships targeting major health
disorders such as obesity, diabetes, and cancer, enhanced by
artificial intelligence drug repurposing technologies. It focuses
on the R&D of novel patented nutraceuticals, specialized root
extracts, proprietary complex generics, and innovative OTC
products. Additionally, Cosmos Health has entered the telehealth
space through the acquisition of ZipDoctor, Inc., based in Texas,
USA. With a global distribution platform, the Company is currently
expanding throughout Europe, Asia, and North America, with offices
and distribution centers in Thessaloniki and Athens, Greece, and in
Harlow, UK.

New York, N.Y.-based RBSM LLP, the Company's auditor since 2024,
issued a "going concern" qualification in its report dated August
5, 2024, citing that the Company has incurred substantial operating
losses and will require additional capital to continue as a going
concern. This raises substantial doubt about the Company's ability
to continue as a going concern.

As of September 30, 2024, Cosmos Health had $64,519,982 in total
assets, $29,543,383 in total liabilities, and $34,976,599 in total
stockholders' equity.


DARLING INGREDIENTS: Moody's Alters Outlook on Ba1 CFR to Negative
------------------------------------------------------------------
Moody's Ratings changed Darling Ingredients Inc.'s outlook to
negative from stable. At the same time, Moody's affirmed Darling's
Ba1 Corporate Family Rating, Ba1-PD Probability of Default Rating,
the Baa3 rating on the company's senior secured first lien bank
credit facility, and the Ba2 rating on the senior unsecured global
notes. The speculative grade liquidity rating (SGL) for Darling was
downgraded to SGL-2 from SGL-1. Moody's also affirmed the Ba2
rating on the backed senior unsecured global notes issued by
Darling Global Finance B.V., and changed the outlook to negative
from no outlook.

The outlook change to negative from stable reflects that lower fat
prices and uncertainty about renewable diesel pricing and the
amount of tax credit monetization could create challenges for
Darling to quickly reduce its elevated leverage.

A decline in fat prices and lower earnings at Darling's Diamond
Green Diesel ("DGD") joint venture with Valero Energy Corporation
(Valero) contributed to a roughly 30% decline in Darling's EBITDA
in the first nine months of fiscal 2024. As a result, Darling's
debt to EBITDA leverage (incorporating Moody's adjustments)
increased to 4.1x as of September 28, 2024, up from 3x at the end
of fiscal 2023.

DGD's earnings are being negatively impacted by lower renewable
diesel pricing that is due in part to an increase in industry
capacity as a number of new plants open. There are a number of
potential positive catalysts that could increase demand for
domestically produced biofuel and lift prices including low carbon
fuel standards, shift in tax credits, and the penetration of
sustainable aviation fuel (SAF), but there is some uncertainty
about the timing and magnitude of the impact of those developments.
These factors also influence RIN pricing and the amount of cash
Darling realizes from the tax credit sales. The shift in the tax
code to a producers tax credit (PTC) from a blenders tax credit
(BTC) at the beginning of 2025 could reduce the supply of renewable
diesel in the US from imports and foreign owned entities that may
no longer receive the favorable tax credit that domestic producers
receive. In addition, 2025 updates to California's low carbon fuel
standard credits are also likely to have a positive impact on
renewable diesel prices. DGD's ability to increase SAF volumes will
also affect earnings and cash flow. An increase in demand for
domestically produced renewable diesel as a result of less imported
renewable diesel will have some potential positive influence on
feedstock fat prices that are still relatively low, thus affecting
earnings from Darling's wholly-owned operations such as the feed
segment.

Moody's affirmed the existing ratings as the company has strong
market positions and strategies to grow earnings and generate free
cash flow that can be used to reduce debt and leverage in the next
12 months. Moody's are forecasting Darling to generate
approximately $250 million in free cash flow in fiscal 2025
including an increase in dividends from DGD that management is
likely to use for debt reduction. The debt repayment creates
potential for Darling to reduce debt to EBITDA to 3.5x by the end
of fiscal 2025 if the company is able to grow earnings.

Moody's lowered the speculative grade liquidity rating to SGL-2
from SGL-1 because the approaching EUR515 million note maturity in
May 2026 may create incremental revolver reliance.

RATINGS RATIONALE

Darling's Ba1 CFR reflects the company's strong market position and
diversification in rendered bio-nutrient based products, good
geographic and end market diversity, 50% ownership of the Diamond
Green Diesel (DGD) renewable diesel and sustainable aviation fuel
joint venture with Valero Energy, and high financial leverage.
Darling uses raw material pricing formulas to help reduce
volatility in the majority of its businesses. The credit profile
also reflects some exposure to finished product price swings and
exogenous raw material supply risk. DGD's asset value is meaningful
but there is some uncertainty regarding the cash flow effects on
Darling given DGD's high reinvestment levels and event risk
surrounding DGD's 50-50% ownership structure. Moody's expect the
current DGD ownership positions to remain in place for at least the
next several years, and that DGD's excess cash flow will increase
over the next year due to lower capital spending now that major
expansion projects are completed and JV debt has been repaid.
Moody's also anticipate Darling will remain focused on reducing
leverage through earnings growth and debt repayment through cash
generated from the rendering/collagen businesses and any cash
distributions received from DGD. Darling has good growth
opportunities in its rendering/collagen businesses such as through
increases in collagen peptides. Moody's expect the market for
renewable diesel to grow, but DGD has different business risks than
Darling's rendering/collagen businesses including volatility
related to energy prices, and business economics that are
influenced by regulatory policies. Supply and demand in the biofuel
market is heavily influenced by tax credits and fuel standards that
are subject to shifting government policies. Now that Darling has
begun to receive cash distributions from DGD, Moody's believe
Darling will utilize this cash to deleverage its balance sheet.
Moody's assume in the ratings that the company will proactively
address its sizable 2026 debt maturities at a manageable cash
interest cost.

Darling currently has good liquidity as reflected in the SGL-2
speculative grade liquidity rating but liquidity will weaken if the
company does not proactively address the approximate $2.6 billion
of note and credit facility maturities in 2026 including the
expiration of the $1.5 billion revolver in December 2026. Current
liquidity is supported by $115 million of cash as of September 28,
2024 and roughly $1 billion of unused capacity on its $1.5 billion
revolving credit facility. Moody's project free cash flow of
approximately $250 million in the next 12 months. Darling has
another $146 million of restricted cash for acquisition
consideration hold backs, foreign construction projects and US
environmental claims. There are no debt maturities in 2025 other
than $32 million of required annual term loan amortization. Darling
has EUR515 million of notes due in May 2026 and approximately $2
billion of term loan and outstanding revolver borrowings that are
due in December 2026. Moody's project considerable cushion within
the maximum 5.5x debt-to-EBITDA and minimum 3.0x EBITDA-to-interest
expense covenants.

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

The ratings could be upgraded if Darling provides greater clarity
about the long term strategic role of the Diamond Green Diesel
joint venture ("JV") for the company, there is a demonstration of
consistent results from the energy JV through cycles and clarity
around the longer term demand for renewable diesel fuel. Sustained
profitability and cash flow stability of Darling's core feed/food
rendering businesses excluding the JV, improved financial and
liquidity flexibility through the ability to transition to an
unsecured debt structure, and debt to EBITDA sustained below 3.0x
(including cash distributions from DGD in EBITDA) would also be
necessary for an upgrade.

The ratings could be downgraded if earnings do not improve due to
factors such as slow demand growth relative to the supply of
renewable diesel and sustainable aviation fuel, pricing weakness
for fats or renewable diesel, or higher costs. An increase in the
volatility of earnings and cash flows, inability to maintain solid
free cash flow, a deterioration of liquidity, or debt to EBITDA is
sustained above 3.5x (including cash distributions from DGD in
EBITDA) could also lead to a downgrade.

The principal methodology used in these ratings was Protein and
Agriculture published in August 2024.

Darling Ingredients Inc., headquartered in Irving Texas, provides
rendering and recycling services to the food industry. The company
processes food waste such as animal by-products, used cooking oil,
and commercial bakery residuals into ingredients used in diverse
applications in the food, pet food, pharmaceutical, feed, fuel and
fertilizer industries. Ingredients include gelatin, tallow, feed
grade fats, meat and bone meal, poultry meal, yellow grease, fuel
feed stocks, natural casings and hides. The company's operations
are primarily located in North America and Europe with a modest
presence in China, South America, and Australia. Darling also owns
a 50% interest in the Diamond Green Energy joint venture with
Valero Energy Corporation. The publicly-traded company generates
annual revenue of about $6 billion excluding DGD, and DGD's
revenues for fiscal year ended December 2023 were $7.0 billion.


DECORATIVE PLUMBING: Files Chapter 11 in California
---------------------------------------------------
On January 28, 2025, Decorative Plumbing Distributors LLC filed
Chapter 11 protection in the U.S. Bankruptcy Court for
the Northern District of California.

According to court filing, the Debtor reports $11,524,261 in
debt owed to 100 and 199 creditors. The petition states funds will
be available to unsecured creditors.

           About Decorative Plumbing Distributors LLC

Decorative Plumbing Distributors LLC is located in San Carlos,
California. It offers a wide selection of plumbing products for
kitchens and baths,  including sinks, faucets, bathtubs, shower
systems, toilets, and more.  With a dedicated showroom and expert
specialists, they help customers coordinate their home design
projects.

Decorative Plumbing Distributors LLC sought relief under Chapter 11
of the U.S. Bankruptcy Code (Bankr. N.D. Cal. Case No. 25-40140) on
January 28, 2025. In its petition, the Debtor reports total assets
of $6,227,662 and total liabilities of $11,524,261.

Honorable Bankruptcy Judge Charles Novack handles the case.

The Debtor is represented by:

     Chris Kuhner, Esq.
     KORNFIELD, NYBERG, BENDES, KUHNER & LITTLE P.C.
     1970 Broadway, Ste 600
     Oakland, CA 94612
     Tel: 510-763-1000
     Fax: 510-273-8669


EARTH SCIENCE: Director Emiliano Curia Holds 500 Common Shares
--------------------------------------------------------------
Emiliano Curia, Independent Director in Earth Science Tech, Inc.,
disclosed in a Form 3 filed with the U.S. Securities and Exchange
Commission that as of January 7, 2025, he beneficially owned 500
shares of common stock, held directly.

Emiliano Curia may be reached at:

     865 NW 14th CT
     Miami, FL 33125

A full-text copy of Curia's SEC Report is available at:

                  https://tinyurl.com/mubnpvnv

                      About Earth Science Tech

Miami, Fla.-based Earth Science Tech, Inc. was incorporated under
the laws of the State of Nevada on April 23, 2010, subsequently
changed to the State of Florida on June 27, 2022. As of November 8,
2022, the Company is a holding entity set to acquire companies with
its current focus in the health and wellness industry. The Company
is presently in compounding pharmaceuticals and telemedicine
through its wholly owned subsidiaries RxCompoundStore.com, LLC.,
Peaks Curative, LLC., and Earth Science Foundation, Inc.

Boca Raton, Fla.-based R. Bolko, CPA P.A, the Company's auditor
since 2022, issued a "going concern" qualification in its report
dated April 16, 2024, citing that the Company has suffered negative
cash flows and has a significant accumulated deficit. These factors
raise substantial doubt about the Company's ability to continue as
a going concern.

As of September 30, 2024, Earth Science Tech had $5,049,628 in
total assets, $1,848,496 in total liabilities, and $3,201,132 in
total stockholders' equity.


EASTERN COLORADO: Hires Creative Planning as Financial Advisor
--------------------------------------------------------------
Eastern Colorado Seeds, LLC seeks approval from the U.S. Bankruptcy
Court for the District of Colorado to employ Creative Planning
Business Alliance LLC as financial advisor.

The firm will provide these services:

   a. assess and monitor the Debtor's financial and operational
condition, and advise Debtor regarding the management thereof;

   b. work with the Debtor's personnel to prepare short/long term
business and financial plans;

   c. assist in communications and negotiation with the Debtor's
creditors and other parties having business relationships with the
Debtor;

   d. prepare financial analyses including providing advice for
preparing necessary budgeting and projections for a plan and
disclosure statement as well as testimony as required;

   e. if requested by the Debtor, prepare a financing memorandum
and undertake efforts to help secure new sources of capital; and

   f. generally assist the Debtor in its efforts to successfully
implement its strategic plan, including but not limited to the
possible reorganization, turnaround, sale and/or refinancing of the
Debtor's business.

The firm will be paid at these rates:

     Charlie Mosher     $350 per hour
     Jim Kennedy        $375 per hour
     Dan Turnquist      $470 per hour
     Jeff Gorman        $470 per hour
     Alex Smith         $500 per hour
     Chris Tomas        $500 per hour

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

The firm has a prepetition claim of $24,065 against the Debtor,
consisting of (a) the invoice of $10,710, (b) $4,085, and (c)
$9.270. The firm has agreed to waive this claim.

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

The firm can be reached at:

     Alex Smith
     Creative Planning Business Alliance LLC
     5454 W 110th St
     Overland Park, KS 66211
     Tel: (608) 237-1318

              About Eastern Colorado Seeds, LLC

Eastern Colorado Seeds LLC s a full-service seed company offering a
wide range of agricultural seeds, including grains, forages,
reclamation seeds, and specialty products like pulses, millets, and
sunflowers. With locations in Burlington, CO, Dumas, TX, and
Clovis, NM, the company ensures efficient delivery and a consistent
supply of high-quality products to its customers. The knowledgeable
team at Eastern Colorado Seeds specializes in crop advisory,
precision technology, and livestock nutrition.

Eastern Colorado Seeds LLC sought relief under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. D. Col. Case No.: 25-10244) on January
15, 2025. In its petition, the Debtor reports estimated assets and
liabilities between $10 million and $50 million each.

Honorable Bankruptcy Judge Joseph G Rosania Jr. handles the case.

The Debtor is represented by:

     Andrew W. Johnson, Esq.
     Onsager Fletcher Johnson LLC
     600 17th Street, Suite 425N
     Denver, CO 80202
     Tel: (302) 512-1123
     Email: ajohnson@OFJlaw.com


EASTERN COLORADO: Hires Onsager Fletcher Johnson as Counsel
-----------------------------------------------------------
Eastern Colorado Seeds, LLC seeks approval from the U.S. Bankruptcy
Court for the District of Colorado to employ Onsager Fletcher
Johnson Palmer LLC as counsel.

The firm will provide these services:

     a. legal advice with respect to Debtor's rights and duties as
a debtor-in-possession and continued business operations;

     b. assist, advise and represent Debtor in any manner relevant
to preserving and protecting Debtor's estate;

     c. prepare on Debtor's behalf all necessary applications,
motions, answers, orders, reports, plans, disclosure statements and
other legal papers that may be required;

     d. appear in Court and to protect Debtor's interests before
the Court;

     e. assist in the winding up and dismissal of the bankruptcy
proceedings of Debtor, post-confirmation;

     f. assist Debtor in administrative matters; and

     g. perform all other legal services for Debtor which may be
necessary and proper in these proceedings.

The firm will be paid at these rates:

     Christian C. Onsager       $600 per hour
     J. Brian Fletcher          $425 per hour
     Andrew D. Johnson          $400 per hour
     Gabrielle G. Palmer        $325 per hour
     Alice A. White             $450 per hour
     Joli A. Lofstedt           $425 per hour
     Paralegals                 $150 per hour

The firm received a prepetition retainer in the amount of $50,409.

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

Andrew D. Johnson, Esq., a partner at Onsager, Fletcher, Johnson,
Palmer LLC, disclosed in a court filing that the firm is a
"disinterested person" as the term is defined in Section 101(14) of
the Bankruptcy Code.

The firm can be reached at:

      Andrew D. Johnson, Esq.
      ONSAGER | FLETCHER | JOHNSON | PALMER LLC
      600 17th Street, Suite 425 North
      Denver, CO 80202
      Tel: (720) 457-7059
      Email: ajohnson@OFJlaw.com

              About Eastern Colorado Seeds, LLC

Eastern Colorado Seeds LLC s a full-service seed company offering a
wide range of agricultural seeds, including grains, forages,
reclamation seeds, and specialty products like pulses, millets, and
sunflowers. With locations in Burlington, CO, Dumas, TX, and
Clovis, NM, the company ensures efficient delivery and a consistent
supply of high-quality products to its customers. The knowledgeable
team at Eastern Colorado Seeds specializes in crop advisory,
precision technology, and livestock nutrition.

Eastern Colorado Seeds LLC sought relief under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. D. Col. Case No.: 25-10244) on January
15, 2025. In its petition, the Debtor reports estimated assets and
liabilities between $10 million and $50 million each.

Honorable Bankruptcy Judge Joseph G Rosania Jr. handles the case.

The Debtor is represented by Andrew W. Johnson, Esq., at Onsager
Fletcher Johnson LLC.


EASTERN COLORADO: Seeks to Use Cash Collateral
----------------------------------------------
Eastern Colorado Seeds, LLC asked the U.S. Bankruptcy Court for the
District of Colorado for authority to use cash collateral.

As with many businesses in agriculture, ECS' revenue is very
cyclical, with a substantial portion of its revenue occurring in
the fourth quarter of each year when its customers do the majority
of their planting. In 2023, ECS and its affiliates had combined
revenue from the business of approximately $9.8 million. In 2024,
the companies had combined revenue from the business of
approximately $7.4 million.

In 2018, the companies obtained loan financed in part by various
real estate loans and revolving lines of credit with American
AgCredit, FLCA and American AgCredit, PCA, both of which are part
of the Farm Credit Administration system, for which the companies
are all jointly liable. From 2018 to 2024, lenders entered into
numerous loan agreements and other loan documents with the
companies.

In 2020, ECS obtained an Economic Injury Disaster Loan from the
U.S. Small Business Administration in the principal amount of
$175,000. The SBA loan is secured by a security agreement in all
tangible and intangible personal property of the company. As of the
petition date, ECS is liable to the SBA in the current principal
amount of $159,598, plus interest, fees and other costs.

As adequate protection, ECS proposed to grant secured creditors a
post-petition security interest and replacement lien to the same
validity, extent, and priority as they have in the company's
portion of the collateral.

A court hearing is set for Feb. 20.

American AgCredit, FLCA and American AgCredit, PCA are represented
by:

     Lucas L. Schneider, Esq.
     Stinson LLP
     1144 15th Street Suite 2400
     Denver, CO 80202
     Telephone: (303) 376-8414
     Email: lucas.schneider@stinson.com

                   About Eastern Colorado Seeds

Eastern Colorado Seeds, LLC is a full-service seed company, with
locations in Burlington, Colo., Dumas, Texas, and Clovis, N.M. The
team at Eastern Colorado Seeds specializes in crop advisory,
precision technology, and livestock nutrition.

Eastern Colorado Seeds sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Colo. Case No. 25-10244) on January 15,
2025, with $10 million to $50 million in both assets and
liabilities.

Judge Joseph G. Rosania, Jr. handles the case.

The Debtor is represented by Andrew W. Johnson, Esq., at Onsager
Fletcher Johnson LLC.


ECO MATERIAL: Moody's Rates New $800MM 1st Lien Loan Due 2032 'B2'
------------------------------------------------------------------
Moody's Ratings assigned a B2 rating to Eco Material Technologies
Inc.'s new $800 million backed senior secured first lien term loan
(TLB) due 2032. Moody's also affirmed the company's B2 Corporate
Family Rating and B2-PD Probability of Default Rating and changed
the outlook to negative from stable. The B2 ratings on the existing
senior secured first lien notes will be withdrawn after they are
redeemed. Proceeds from the new TLB will be used to refinance the
existing $650 million senior secured notes, to pay a $75 million
distribution to shareholders and $24 million for the transaction
fees and expenses, and to add $51 million in cash to the company's
balance sheet for general corporate purposes including capital
projects. The ratings are subject to review of final documents.

Governance considerations under Moody's ESG framework, specifically
financial strategy & risk management, were a key driver of the new
rating assignment.

RATINGS RATIONALE

The change in the outlook to negative reflects the risk that high
gross debt levels, potential project ramp-up delays and the new
investments in alternative fly ash supply sources could lead to
persistently negative free cash flow, high leverage and the overall
weak credit profile.

Eco Material's B2 CFR is supported by its leading market position
in the North American fly ash industry, its well-established
logistics network with extensive storage and distribution
terminals, long-term supply contracts with utilities and
sustainably strong demand for fly ash due to its sustainability
benefits as a zero-carbon alternative for portland cement and its
performance characteristics. The ratings are constrained by the
company's small scale and its focus on one product — fly ash,
which accounts for the majority of its revenues. The remainder is
generated from other SCMs and site services (e.g. technical
solutions, including disposal and wet-dry conversion) for
utilities.

The declining fresh ash supply from electric utilities and the
company's large capital spending to develop alternative fly ash
supply sources elevate business risks in the coming years. To
secure additional supply and maintain or grow its sales volumes,
Eco Material is making investments in harvesting and beneficiation
facilities to recover the previously landfilled ash. It is also
investing in new technology to increase the portion of natural
pozzolans and slag that can be used as cement substitutes in
concrete production.

Eco Material generated $682 million in revenues and $139 million in
Moody's-adjusted EBITDA in the LTM ended on September 30, 2024, up
4.2% and 7.3%, respectively, from FY2023 with lower sales volumes
and higher operating expenses offset by strong price increases and
incremental volumes from the new projects. The sales and earnings
could have been higher if not for unfavorable weather, power plant
outages and equipment failure at its recently constructed fly ash
storage silo at Oak Grove.

Although the company's EBITDA has grown in the LTM, because of
higher gross debt following the issuance of $125 million
incremental senior secured first lien notes in early 2024 to help
fund growth investments, the LTM leverage, measured as
Moody's-adjusted Debt/EBITDA has increased to 5.4x from 4.7x at the
end of FY2023. The LTM free cash flow was negative at $47 million
as a result of working capital build-up in Q1, higher capex and
additional cash outlays related to the Oak Grove incident. Moody's
estimate that the company will generate EBITDA, as adjusted by
Moody's, of about $140 million in FY2024. As a result, proforma the
refinancing, which will increase the company's gross debt, FY2024
year-end leverage is expected to rise to about 6.2x, which is high
for a B2 rating.

Moody's estimate that EBITDA, as adjusted by Moody's, will exceed
$160 million in 2025 and $200 million in 2026 as new projects
gradually ramp up to full capacity and Oak Grove facility resumes
normal operations. Assuming no gross debt reduction, Moody's
forecast that it could take about one and a half years for leverage
to fall below 5x, somewhat longer than forecast previously.
Coverage metrics are also expected to remain weak for the rating in
2025 but should improve in 2026. Moody's expect that the company
will be free cash flow negative in 2025 (after a $75 million
distribution and $47 million in anticipated insurance proceeds) but
estimate that it will generate positive free cash flow in 2026.
Moody's 2026 estimates assume that the growth capex spending will
be limited to the committed growth projects that should add 2.05
million tons of new production capacity. As such, there is a risk
that 2026 free cash flow could be lower than Moody's estimate or
even negative if the company experiences delays with the
construction and the ramp-up of its projects or if management
decides to invest in new growth projects which could leave very
little to no excess cash flow for gross debt reduction.

The negative outlook reflects the risk that while demand for fly
ash is expected to remain strong and the company's earnings and
cash flows are forecast to grow in the next 12-18 months, high
gross debt levels, potential project ramp-up delays and expansive
investments in alternative supply sources could lead to
persistently negative free cash flow, high leverage and the overall
weak credit profile.

Eco Material's adequate liquidity profile reflects, proforma the
refinancing, its available cash on hand of about $138 million and
$70 million available under the recently upsized and undrawn $75
million asset-based revolving credit facility. The ABL matures in
June 2029. The ABL has a springing financial covenant — fixed
charge coverage ratio of 1x, which will be tested if the
availability is less than the greater of 10% of the borrowing base
and $5 million. Moody's expect the company to comply with the
covenant in the next 12 months.

The B2 rating on the term loan, in line with the B2 corporate
family rating, reflects its preponderance in the company's capital
structure, although the TLB is junior to the ABL revolver. The term
loan is secured by second-priority liens on inventory and
receivables and first-priority liens on substantially all other
assets of the Borrower and its subsidiaries. The term loan is
guaranteed by the parent company (Eco Material Technologies Parent
Inc. (DE)), and each existing and subsequently acquired or
organized direct or indirect domestic subsidiary of the borrower,
subject to customary exceptions. The TLB is not subject to any
financial covenants.

Marketing terms for the new credit facilities (final terms may
differ materially) include the following:

Incremental pari passu debt capacity up to the greater of $153
million and 100% of LTM EBITDA, plus unlimited amounts subject to
the greater of 5.00x first lien net leverage ratio and leverage
neutral incurrence. There is an inside maturity sublimit up to the
greater of $306 million and 200% of LTM EBITDA, along with
incremental term facilities incurred in connection with a permitted
acquisition and other investment.  There are no "blocker"
provisions which prohibit the transfer of specified assets to
unrestricted subsidiaries. There are no protective provisions
restricting an up-tiering transaction.

Amounts up to 100% of unused capacity from the builder basket may
be reallocated to incur debt.

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

Moody's could upgrade the rating, if the company successfully
implements its investment strategy, improves its supply sources and
expands its business scale and diversity. A rating upgrade would
also require debt leverage sustainably below 4.0 times, retained
cash flow to debt exceeding 15%, and management commitment to more
conservative financial policies.

Moody's could downgrade the rating, if the company fails to develop
alternative supply sources, grow sales volumes, earnings and cash
flows as planned. The expectations of Moody's-adjusted debt
leverage remaining above 5 times on a sustained basis, persistently
negative free cash flow, another material shareholder distribution
or deterioration in liquidity could result in the downgrade of the
ratings.

Eco Material Technologies Inc. is the largest marketer and
distributer of fly ash and one of the leading producers of
sustainable cementitious products in the United States. The company
was formed in February 2022 in connection with the proposed merger
of Green Cement, Inc., and Boral Resources, a North American
subsidiary of Boral Limited. The company is owned by Warburg
Pincus, One Equity Partners and GCI managers. The company generated
about $0.7 billion in revenues in the LTM ended September 30,
2024.

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

Moody's have changed the applicable rating methodology used to rate
the company to "Building Materials" published in September  2021
from "Construction" published in September 2021, taking into
account the Eco Material's strategic direction and considering that
it generates more than 80% of its revenues and 90% of EBITDA from
cementitious products (fly ash, harvested ash, green cement,
gypsum, natural pozzolans) that serve as alternative material to
portland cement and sells its products to ready-mix concrete
producers and other manufacturers of concrete products.


ECS FARMS: Seeks to Hire Allen Vellone Wolf as Counsel
------------------------------------------------------
ECS Farms, LLC seeks approval from the U.S. Bankruptcy Court for
the District of Colorado to employ Allen Vellone Wolf Helfrich &
Factor P.C. as counsel.

The firm will provide these services:

     (a) provide legal advice and representation in connection with
the general administration of the estate;

     (b) confirm any proposed plan of reorganization, all other
contested and adversary matters that arise in this case;

     (c) investigate and litigate any avoidance or other action the
estate may have; and

     (d) perform other legal services for the Debtor related to or
arising out of contested matters in this bankruptcy case.

The firm will be paid at these rates:

     Jeffrey Weinman           $650 per hour
     Katharine Sender          $425 per hour
     Other Attorneys           $325 to $725 per hour
     Paralegals                $120 to $250 per hour

The firm received from the Debtor a retainer of $30,000.

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

Katharine Sender, Esq., a partner at Allen Vellone Wolf Helfrich &
Factor P.C., disclosed in a court filing that the firm is a
"disinterested person" as the term is defined in Section 101(14) of
the Bankruptcy Code.

The firm can be reached at:

     Jeffrey A. Weinman, Esq.
     Katharine S. Sender, Esq.
     Allen Vellone Wolf Helfrich & Factor P.C.
     1600 Stout Street, Suite 1900
     Denver, CO 80202
     Tel: (303) 534-4499
     Email: JWeinman@allen-vellone.com
            KSender@allen-vellone.com

              About ECS Farms, LLC

ECS Farms LLC is an affiliate of Eastern Colorado Seeds LLC, is a
full-service seed company offering a wide range of agricultural
seeds, including grains, forages, reclamation seeds, and specialty
products like pulses, millets, and sunflowers. With locations in
Burlington, CO, Dumas, TX, and Clovis, NM, the company ensures
efficient delivery and a consistent supply of high-quality products
to its customers.

ECS Farms LLC sought relief under Chapter 11 of the U.S. Bankruptcy
Code (Bankr. D. Co. Case No.: 25-10247) on January 16, 2025. In its
petition, the Debtor reports estimated assets between $500,000 and
$1 million and estimated liabilities between $10 million and $50
million.

Honorable Bankruptcy Judge Joseph G. Rosania Jr. handles the case.

The Debtor is represented by Jeffrey A. Weinman, Esq., at Allen
Vellone Wolf Helfrich & Factor P.C.


EPIC! CREATIONS: U.S. Trustee Unable to Appoint Committee
---------------------------------------------------------
The U.S. Trustee for Region 3 disclosed in a court filing that no
official committee of unsecured creditors has been appointed in the
Chapter 11 cases of Epic! Creations, Inc. and affiliates.

                     About Epic! Creations Inc.

Epic! Creations Inc. -- https://www.getepic.com/ -- doing business
as Byju's, retails books online. The Company offers digital library
which includes kids books, ebooks, and videos. Epic! Creations
serves customers in the State of California.

Alleged creditors of Epic! Creations sought involuntary petition
under Chapter 11 of the the U.S. Bankruptcy Code against Epic!
Creations (Bankr. D. Del. Case No. 24-11161) on June 5, 2024.

The creditors who signed the petition are:

    * HPS Investment Partners, LLC,
    * TBK Bank, SSB
    * Redwood Capital Management, LLC,
    * Veritas Capital Credit Opportunities Fund SPV, L.L.C.
and Veritas Capital Credit Opportunities Fund II SPV, L.L.C.
    * HGV BL SPV, LLC,
    * Midtown Acquisitions GP LLC,
    * Silver Point Capital, L.P.,
    * Shawnee 2022-1 LLC,
    * Sentinel Dome Partners, LLC,
    * Stonehill Capital Management LLC,
    * Diameter Capital Partners LP,
    * Ellington CLO III, Ltd. and Ellington Special Relative
Value Fund L.L.C.
    * GLAS Trust Company LLC, in its capacity as administrative
agent and collateral agent,
    * Continental Casualty Company, and
    * India Credit Solutions, L.P.

Glas Trust Company is represented by:

       Laura Davis Jones
       Pachulski, Stang, Ziehl & Jones LLP
       Telephone: (302) 778-6401
       E-mail: ljones@pszjlaw.com

TBK Bank, et al., are represented by:

       G. David Dean
       Cole Schotz P.C.
       Telephone: (302) 652-3131
       E-mail: ddean@coleschotz.com


ETHEMA HEALTH: ARIA Completes Edgewater Recovery Acquisition
------------------------------------------------------------
As previously disclosed by Ethema Health Corporation in a filing
with the U.S. Securities and Exchange Commission, on October 22,
2024, ARIA Kentucky, LLC, a wholly owned subsidiary of the Company,
Edgewater Recovery Centers, LLC ("ECI"), and its sole member John
David Elam (the "Seller"), entered into the Asset Purchase
Agreement, dated October 22, 2024 (the "APA") pursuant to which
ARIA Kentucky agreed to acquire and ECI agreed to sell to ARIA
Kentucky on the closing date , the addiction treatment operations
owned by ECI and located in Morehead and Paducah, Kentucky through
a purchase of the assets of ECI, including; all assets of ECI used
in the business of ECI (except for certain specified assets),
including but not limited to all current assets existing at the
time of closing, all cash balances and rights to receive cash, all
equipment, machinery, all warranties related to the business and
acquired assets, all intangible personal property, intellectual
property, all business inventories, all property leases associated
with the business, all assumed contracts, all governmental
authorizations; and all information and records, including patient
records, as defined in the APA. Certain of the real property
associated with the operations of ERI is fully leveraged and
requires credit and personal guarantees which the Company is unable
to provide. This Real Property was to be acquired in a separate
transaction by BH Properties, a related party, and leased to ARIA
Kentucky by various subsidiaries of BH Properties on an arms-length
basis, at market related rates.

On January 9, 2025, ARIA Kentucky consummated the Acquisition of
the Acquired Assets of ECI. Pursuant to the terms of the APA, at
closing ARIA Kentucky paid the Seller $250,000 and assumed certain
liabilities related to the Acquired Assets, including trade
payables and liabilities under assumed contracts and certain
specifically identified liabilities, including a settlement
agreement with the United States government and the State of
Kentucky and certain obligations as a borrower or guarantor related
to banking obligations. In a separate transaction on January 9,
2025, BH Properties acquired the Real Property

Pursuant to the Asset Purchase Agreement, dated October 22, 2024,
by and among ECI, its sole member John David Elam and ARIA
Kentucky, ARIA Kentucky entered into the following leases with
certain subsidiaries of BH Properties Fund, LLC, a fund controlled
by the CEO of the Company, Shawn Leon, a related party:

     * ARIA Kentucky executed a lease with ERC Investments LLC for
the property at 425 Clinic Drive, Morehead, KY for a term of five
years at the rate of $312,000.00 per year escalating 1.5% annually
for a total obligation of $1,607,507.28. The lease is effective
January 1, 2025.

     * ARIA Kentucky executed a lease with ERC Investments LLC for
the property at 445 Clinic Drive, Morehead, KY for a term of five
years at the rate of $120,000.00 per year escalating 1.5% annually
for a total obligation of $618,272.03. The lease is effective
January 1, 2025.

     * ARIA Kentucky executed a lease with ERC Investments LLC for
the property at 1111 US 60, Morehead, KY for a term of five years
at the rate of $480,000.00 per year escalating 1.5% annually for a
total obligation of $2,473,088.12. The lease is effective January
1, 2025.

     * ARIA Kentucky executed a lease with New Journey LLC for the
property at 189 Edgewater Road, Morehead, KY for a term of five
years at the rate of $96,000.00 per year escalating 1.5% annually
for a total obligation of $494,617.62. The lease is effective
January 1, 2025.

     * ARIA Kentucky executed a lease with New Journey LLC for the
property at 795 Cranston Road, Morehead, KY for a term of five
years at the rate of $96,000.00 per year escalating 1.5% annually
for a total obligation of $494,617.62. The lease is effective
January 1, 2025.

      * ARIA Kentucky executed a lease with New Journey LLC for the
property at 2180 US 60, Morehead, KY for a term of five years at
the rate of $36,000.00 per year escalating 1.5% annually for a
total obligation of $185,481.61. The lease is effective January 1,
2025.

     * ARIA Kentucky executed a lease with New Journey LLC for the
property at 721 White Street, Morehead, KY (the "721 White Lease")
for a term of five years at the rate of $30,000.00 per year
escalating 1.5% annually for a total obligation of $154,568.01. The
lease is effective January 1, 2025.

     * ARIA Kentucky executed a lease with JDE Properties LLC for
the property at 166 Maple Drive, Morehead, KY for a term of five
years at the rate of $60,000.00 per year escalating 1.5% annually
for a total obligation of $309,136.02. The lease is effective
January 1, 2025.

     * ARIA Kentucky executed a lease with JDE Properties LLC for
the property at 214 Jackson Drive, Morehead, KY for a term of five
years at the rate of $30,000.00 per year escalating 1.5% annually
for a total obligation of $154,568.01. The lease is effective
January 1, 202five.

     * ARIA Kentucky executed a lease with JDE Properties LLC for
the property at 1135 Rodburn Hollow Drive, Morehead, KY for a term
of five years at the rate of $30,000.00 per year escalating 1.5%
annually for a total obligation of $154,568.01. The lease is
effective January 1, 2025

In addition, on January 9, 2025, ARIA Kentucky executed an
assignment of lease for the property at 154 S Owens Road, Morehead,
KY with MAT Properties LLC, a third party not owned by BH
properties or otherwise affiliated with the Company's CEO, to
assign a lease between Edgewater Recovery Center LLC and MAT
Properties LLC for a term of three years at the rate of $180,000.00
per year for a total obligation of $540,000.00. The lease is
effective January 1, 2025.

On January 9, 2025, ARIA Kentucky also executed a lease with Trent
Developments, LLC, a third party not owned by BH properties or
otherwise affiliated with the Company's CEO, for the property at
141, 141.5 and 143 East Main Street, Morehead, KY for a term of
five years at the rate of $138,000 per year escalating 1.5%
annually after the second year for a total obligation of
$702,544.67. The lease is effective January 1, 2025.

                        About Ethema Health

Headquartered in West Palm Beach, Florida, Ethema Health
Corporation -- http://www.ethemahealth.com/-- operates in the
behavioral healthcare space, specifically in the treatment of
substance use disorders.

New York, N.Y.-based RBSM LLP, the Company's auditor since 2023,
issued a "going concern" qualification in its report dated May 7,
2024, citing that the Company has suffered recurring losses from
operations, generated negative cash flows from operating
activities, has an accumulated deficit, and has stated that
substantial doubt exists about the Company's ability to continue as
a going concern.


EURO CONSTRUCTION: Files Subchapter V Bankruptcy Petition in Nevada
-------------------------------------------------------------------
On January 28, 2025, Euro Construction LLC filed Chapter 11
protection in the U.S. Bankruptcy Court for the District of
Nevada.

According to court filing, the Debtor reports $1,193,214 in
debt owed to 1 and 49 creditors. The petition states funds will be
available to unsecured creditors.

           About Euro Construction LLC

Euro Construction LLC -- https://euroconstructionllc.com/ --
specializes in concrete, flagstone, sidewalks, walkways, driveways,
patios, decks, landscaping and home improvement jobs.

Euro Construction LLC sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Nev. Case No.: 25-10440) on January 28,
2025. In its petition, the Debtor reports total assets of $445,397
and total liabilities of $1,193,214.

The Debtor is represented by:

     Marjorie Guymon, Esq.
     GOLDSMITH & GUYMON, PC
     2055 Village Center Circle
     Las Vegas, NV 89134-6251
     Tel: (702) 873-9500
     Email: info@goldguylaw.com


FAMILY SOLUTIONS: Trustee Hires Hendren Redwine as Co-Counsel
-------------------------------------------------------------
George F. Sanderson III, the Trustee for Family Solutions of Ohio,
Inc, seeks approval from the U.S. Bankruptcy Court for the Eastern
District of North Carolina to employ Hendren, Redwine & Malone,
PLLC as co-counsel.

The firm will assist and provide legal advice with respect to the
Trustee carrying out his appointed duties in this Chapter 11 case.

The Debtor paid the firm $25,000 on August 19, 2024. The sum of
$10,330.50 remained in the firm's Trust Account on the petition
date.

Rebecca F. Redwine, Esq., a partner at Hendren, Redwine & Malone,
disclosed in a court filing that the firm is a "disinterested
person" as the term is defined in Section 101(14) of the Bankruptcy
Code.

The firm can be reached at:

     Rebecca F. Redwine, Esq.
     Hendren, Redwine & Malone, PLLC
     4600 Marriott Dr # 150
     Raleigh, NC 27612
     Tel: (919) 420-7867

              About Family Solutions of Ohio, Inc.

Family Solutions of Ohio, Inc. in Wake Forest, NC, sought relief
under Chapter 11 of the Bankruptcy Code filed its voluntary
petition for Chapter 11 protection (Bankr. E.D.N.C. Case No.
24-03043) on September 5, 2024, listing as much as $1 million to
$10 million in both assets and liabilities. John Hopkins Jr. as
vice president, signed the petition.

Judge Pamela W Mcafee oversees the case.

HENDREN, REDWINE & MALONE, PLLC serves as the Debtor's legal
counsel.


FILTERX LLC: Hires Dunham Hildebrand Payne as Counsel
-----------------------------------------------------
Filterx LLC seeks approval from the U.S. Bankruptcy Court for the
Middle District of Tennessee to Dunham Hildebrand Payne Waldron,
PLLC as counsel.

The firm's services include:

     a. rendering legal advice with respect to the rights, power,
and duties of the Debtor in the management of its assets;

     b. investigating and, if necessary, instituting legal action
on behalf of the Debtor to collect and recover assets of the estate
of the Debtor;

     c. preparing all necessary pleadings, orders and reports with
respect to this proceeding and to render all other necessary or
proper legal services;

     d. assisting and counseling Debtor in the preparation,
presentation, and confirmation of a plan of reorganization;

     e. representing Debtor as may be necessary to protect its
interests, including in connection with any non-dischargeability
actions; and

     f. performing all other legal services that may be necessary
and appropriate in the general administration of Debtor's estate.

The firm will be paid at these rates:

     Attorneys            $550 per hour
     Paralegals           $225 per hour

The firm received a retainer in the amount $26,738.

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

Henry E. ("Ned") Hildebrand, IV, Esq., a partner at Dunham
Hildebrand Payne Waldron, PLLC, disclosed in a court filing that
the firm is a "disinterested person" as the term is defined in
Section 101(14) of the Bankruptcy Code.

The firm can be reached at:

     Henry E. ("Ned") Hildebrand, IV, Esq.
     Dunham Hildebrand Payne Waldron, PLLC
     9020 Overlook Boulevard, Suite 316,
     Brentwood, TN 37027
     Tel: (629) 777-6539

              About Filterx LLC

Filterx LLC is an air filter manufacturer based in Gallatin,
Tennessee. The company operates a modern manufacturing facility
producing air filter products and serves as the only manufacturer
in the Middle Tennessee Region.

Filterx LLC sought relief under Subchapter V of Chapter 11 of the
U.S. Bankruptcy Code (Bankr. M.D. Tenn. Case No. 25-00186) on
January 16, 2025. In its petition, the Debtor reported assets and
liabilities between $500,000 and $1 million.

Judge Nancy B. King handles the case.

The Debtor is represented by Henry E. Hildebrand, Esq., at Dunham
Hildebrand Payne Waldron, PLLC, in Brentwood, Tenn.


FIRSTBASE.IO INC: Plan Exclusivity Period Extended to May 23
------------------------------------------------------------
Judge Lisa G. Beckerman of the U.S. Bankruptcy Court for the
Southern District of New York extended Firstbase.io, Inc.'s
exclusive periods to file a plan of reorganization and obtain
acceptance thereof to May 23 and July 22, 2025, respectively.

As shared by Troubled Company Reporter, the Debtor explains that
while the size of the case is not large in terms of numbers of
creditors, the amount of debt and the potential swing in claim
amounts and the secured status of those claims is significant.
Harbor is the largest creditor in this proceeding, with a claim
currently in an amount of approximately $28,000,000.00 based upon
the Foreign Judgment. Debtor disputes such amount as the Final
Judgment is not final and is subject to Post-Trial Motions and
appeal.

The Debtor claims that its motive for seeking this extension is not
to exert pressure on the creditors or for some other improper
purpose. To the contrary, the Debtor is simply trying to move
forward in the most efficient manner and spend estate resources on
a Plan when it has all of the facts necessary to move forward.

The Debtor asserts that the estate benefits from extending the
Exclusive Periods until resolution of the amount and status of
Harbor's claim is determined as opposed to spending precious
resources proposing a Chapter 11 plan which isn't ripe for
confirmation or effectuation.

Firstbase.io, Inc. is represented by:

     KIRBY AISNER & CURLEY LLP
     Dana P. Brescia, Esq.
     700 Post Road, Suite 237
     Scarsdale, New York 10583
     Tel: (914) 401-9500

                     About Firstbase.io Inc.

Firstbase.io, Inc., is a technology company that provides business
formation services.

The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. S.D.N.Y. Case No. 24-11647) with $1 million
to $10 million in assets and $10 million to $50 million in
liabilities.

Judge Lisa G. Beckerman oversees the case.

The Debtor is represented by Dawn Kirby, Esq., at Kirby Aisner &
Curley, LLP.


FLEET SERVICES: Court OKs Deal to Use SBA's Cash Collateral
------------------------------------------------------------
The U.S. Bankruptcy Court for the Central District of California,
Los Angeles Division, approved a stipulation allowing Fleet
Services Group, LLC to use the cash collateral of the U.S. Small
Business Administration.

The stipulation authorizes Fleet Services Group to use cash
collateral to pay its post-petition expenses until a Chapter 11
plan for the company is confirmed.

As adequate protection, the SBA will receive a replacement lien,
effective as of the petition date, on all post-petition revenues of
the company to the same extent and with the same priority and
validity as its pre-bankruptcy lien.

The SBA will also receive a monthly payment of $906.60 from the
company starting next month. In addition, the agency will be
entitled to a priority claim over the life of the company's
bankruptcy case.

On June 23, 2020, Fleet Services Group executed an SBA note,
pursuant to which the company obtained a COVID Economic Injury
Disaster Loan in the amount of $150,000. On August 5, 2021, the
company executed a First Modification of Note, pursuant to which
the company increased the Original SBA Loan by $ 350,000 for a
cumulative sum of $500,000.

The terms of the Modified Note require the company to pay principal
and interest payments of $2,519 every month beginning 24 months
from the date of the Note (subject to certain Congressionally
approved extensions) over the 30-year term of the SBA loan. The SBA
loan has an annual rate of interest of 3.75% and maybe prepaid at
any time without notice or penalty. As of the petition date, the
amount due on the SBA loan was approximately $500,000.

                    About Fleet Services Group

Fleet Services Group, LLC is a diesel repair shop in Los Angeles
that provides fleet maintenance and repair services for light,
medium, and heavy-duty fleets. With services ranging from engine
repair to custom welding and fabrication, Fleet Services Group has
the means and expertise to successfully perform a wide array of
repair and maintenance services.

Fleet Services Group sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bank. C.D. Calif. Case No. 24-18551) on October
18, 2024, with $179,140 in assets and $1,098,325 in liabilities.
Janelle Juarez, managing member, signed the petition.

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


FLUENT INC: Global Value Holds 14.97% Stake as of Jan. 17
---------------------------------------------------------
Global Value Investment Corp., Jeffrey R. Geygan, James P. Geygan,
Stacy A. Wilke, Kathleen M. Geygan, and Shawn G. Rice disclosed in
a Schedule 13D/A filed with the U.S. Securities and Exchange
Commission that as of January 17, 2025, they beneficially owned a
total of 3,075,788 shares of common stock of Fluent Inc.,
representing 14.97% of the 20,548,162 shares of Common Stock (upon
full exercise of pre-funded warrants), $0.0005 par value per share
outstanding as of December 2, 2024, as reported in the Form 10-Q
for the fiscal quarter ended September 30, 2024, and the Form 8-K
filed December 2, 2024, of Fluent, Inc.

GVIC serves as investment adviser to managed accounts and may be
deemed to have beneficial ownership over the Common Stock held for
the Accounts.

GVIC owns 9,385 shares of Common Stock in its corporate capacity.
Mr. Jeffrey Geygan, Mr. James Geygan, Ms. Wilke, Ms. Geygan, and
Mr. Rice each own shares of Common Stock in their individual
capacities. These shares may be deemed to be indirectly beneficial
owned by GVIC. Mr. Jeffrey Geygan owns 54,584 shares in his
individual capacity. Mr. James Geygan owns 8,599 shares in his
individual capacity. Ms. Wilke owns 3,869 shares in her individual
capacity. Ms. Geygan owns 9,875 shares in her individual capacity.
Mr. Rice owns 13,459 shares in his individual capacity.

Mr. Jeffrey Geygan, Mr. James Geygan, Ms. Geygan, and Mr. Rice are
the directors of GVIC. Mr. James Geygan and Ms. Wilke are the
executive officers of GVIC. As a result of his ownership interest
in GVIC, Mr. Jeffrey Geygan is the controlling person of GVIC. As
each of the Reporting Persons, directly or indirectly, share the
power to vote, or direct the voting of, the Common Stock held for
the Accounts, and the power to dispose, or to direct the
disposition of, the Common Stock held for the Accounts, each may be
deemed to have beneficial ownership over the Common Stock held for
the Accounts.

GVIC may be reached at:

     James P. Geygan
     Interim CEO and President
     Global Value Investment Corporation
     1433 N. Water Street, Suite 400,
     Milwaukee, WI, 53202
     Tel: (262) 478-0640

A full-text copy of GVIC's SEC Report is available at:

                  https://tinyurl.com/mr44jmt7

                         About Fluent Inc.

Fluent, Inc. -- https://www.fluentco.com -- is a digital marketing
services company specializing in customer acquisition.  The Company
operates highly scalable digital marketing campaigns that connect
advertiser clients with their target consumers.  The Company's
services leverage both its owned and operated digital media
properties and auxiliary syndicated performance marketplace
products.  In 2023, the Company delivered data-driven,
performance-based customer acquisition services for over 500
consumer brands, direct marketers, and agencies across various
industries, including Media & Entertainment, Financial Products &
Services, Health & Life Sciences, Retail & Consumer, and Staffing &
Recruitment.

Fluent said in its Quarterly Report on Form 10-Q for the period
ended Sept. 30, 2024, that "Based on current projections, the
Company expects to be in compliance with the new financial
covenants for each of the quarters in the 12 months following the
issuance date of this Quarterly Report on Form 10-Q.  However, the
Company has not met its projections for certain recent quarters, so
there can be no assurance that the Company will meet its
projections in the future.  If during any fiscal quarter, the
Credit Parties do not comply with any of their financial covenants,
such non-compliance would result in an event of default that would
give SLR the right to accelerate maturities.  Additionally, if the
Company fails to raise capital in at least the amount required
under the Third Amendment by November 29, 2024, such failure would
also result in an event of default.  In such case, the Company
would not have sufficient funds to repay the SLR Term Loan ... and
the SLR Revolver...In addition, even if the Company is able to
raise additional capital as required by the Third Amendment, there
is no assurance that such capital plus the available cash plus
borrowing base on the SLR Revolver will be sufficient to fund
operations over the next 12 months.  If needed, the Company will
consider implementing other cost-saving measures, but there is no
guarantee that such plans would be successfully executed or have
the expected benefits.  As a result, management concluded that
there is substantial doubt about the Company's ability to continue
as a going concern for one year after the date of this Quarterly
Report on Form 10-Q."


FRANCHISE GROUP: Unsecured Creditors Move to Contest Lender Liens
-----------------------------------------------------------------
Alex Wolf of Bloomberg Law reports that the unsecured creditors of
Franchise Group Inc. are seeking court approval to challenge the
validity of liens securing over $125 million in pre-bankruptcy loan
obligations.

Franchise Group, the bankrupt parent of The Vitamin Shoppe and Pet
Supplies Plus, has acknowledged that a lender group led by Alter
Domus (US) LLC holds perfected interests in assets such as real
estate, cash accounts, and insurance policies, according to the
report.  However, the official committee of unsecured creditors
contends that there is no clear evidence supporting the validity of
certain second-lien lender claims.

              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.

Franchise Group, Inc. and its affiliates filed their voluntary
petition for relief under Chapter 11 of the Bankruptcy Code (Bankr.
D. Del. Lead Case No. 24-12480) on Nov. 3, 2024, listing
$1,000,000,001 to $10 billion in both assets and liabilities. The
petitions were signed by David Orlofsky as chief restructuring
officer.

Willkie Farr & Gallagher LLP and Young Conaway Stargatt & Taylor,
LLP are serving as legal counsel, AlixPartners is serving as
financial advisor and Chief Restructuring Officer, and Ducera
Partners is serving as investment banker to the Company. Paul
Hastings LLP is serving as legal counsel and Lazard is serving as
investment banker to the first lien ad hoc group.


FULLER'S SERVICE: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Fuller's Service Center Inc.
        102 W. Chicago Ave.
        Hinsdale, IL 60521

Business Description: Fuller's Service Center Inc., based in
                      Hinsdale, IL, is an auto repair shop
                      specializing in tire sales and
                      installations, as well as general vehicle
                      maintenance and repairs.

Chapter 11 Petition Date: January 29, 2025

Court: United States Bankruptcy Court
       Northern District of Illinois

Case No.: 25-01345

Judge: Hon. Deborah L Thorne

Debtor's Counsel: David K. Welch, Esq.
                  BURKE, WARREN, MACKAY & SERRITELLA, P.C.
                  330 N. Wabash
                  21st Floor
                  Chicago, IL 60611
                  Tel: 312-840-7122
                  Email: dwelch@burkelaw.com

Estimated Assets: $500,000 to $1 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Douglas A. Fuller Jr. as president and
director.

A full-text copy of the petition, which includes a list of the
Debtor's 20 largest unsecured creditors, is available for free on
PacerMonitor at:

https://www.pacermonitor.com/view/MWY5NKQ/Fullers_Service_Center_Inc__ilnbke-25-01345__0001.0.pdf?mcid=tGE4TAMA


GAS CITY, IN: S&P Lowers 2020 Sewage Works Bond Rating to 'BB+'
---------------------------------------------------------------
S&P Global Ratings lowered its long-term rating three notches to
'BB+' from 'BBB+' on Gas City, Ind.'s series 2020 sewage works
refunding revenue bonds. The outlook is negative.

"The downgrade reflects receipt of the biannual audit and
additional consultant disclosure, which indicates below 1.0x all-in
debt service coverage (DSC) for two years and highly vulnerable
cash reserves due to delayed action to increase rates," said S&P
Global Ratings credit analyst Jaime Blansit. In S&P's opinion, the
utility is vulnerable to additional financial deterioration given
that the 2022 bond anticipation notes mature in 2027, requiring
additional long-term debt that will require substantial rate
increases to balance DSC and liquidity for capital improvements,
pressuring affordability in a limited-service economy.

The sewage works system's net revenue secures the series 2020
bonds. The city's sewage works series 2020 bonds and recently
issued 2022 BANs are the only sewer revenue debt. The BANs mature
in 2027 and the series 2020 matures in 2028. There is no
variable-rate debt, swaps, or direct-purchase obligations or
subordinate debt. S&P views the bond provisions as weak considering
the rate covenant of sufficiency. All-in DSC in fiscal 2023 is
0.9x, when excluding BAN proceeds of $700,000 and accounting for
the payment-in-lieu of taxes.

"The negative outlook reflects our uncertainty on planned rate
increases and the sufficiency to build the system's cash position,
and how the utility will navigate the BAN take-out and its effects
on the financial position," added Ms. Blansit.



GEON PERFORMANCE: Moody's Affirms 'B2' CFR, Outlook Remains Stable
------------------------------------------------------------------
Moody's Ratings affirmed GEON Performance Solutions, LLC's B2
Corporate Family Rating, B2-PD Probability of Default and B2 senior
secured bank credit facility rating. The ratings outlook remains
stable.

RATINGS RATIONALE

The B2 corporate family rating reflects the company's small scale,
high leverage and its significant exposure to cyclical end markets
such as the building and construction, transportation, industrial
and appliances industries. Moody's adjusted debt/EBITDA was 6.7x in
the twelve months ended September 2024, as the weak US housing
market and a decline in auto build rates constrained demand for
GEON's resins. On January 7, GEON announced that it acquired Foster
Corporation in its fourth transaction since 2020. Moody's view the
acquisition as improving the company's business profile because it
allows GEON to enter the less cyclical medical market with higher
barriers to entry and reduce its exposure to commodity PVC
compounds. GEON already offers flexible PVC, thermoplastic
elastomer solutions and contract manufacturing services to
healthcare customers from its Clinton, Tennessee facility, while
Foster Corporation offers formulation, development and production
of custom medical compounds, implantable materials, engineered
polymers, thermoplastic polyurethane elastomers and polymer
enhancements. GEON's material margin dependence on PVC will decline
to 58% from 68% with the Foster acquisition, which will contribute
roughly 10% of the company's pro forma material margin. Pro forma
for the transaction and estimated synergies, leverage declines to
about 6.0x in the twelve months ended September 2024. Moody's
expect modest improvement in leverage in 2025 towards 5.6x as the
US housing market continues to be impacted by low affordability
that is reducing homebuying activity despite the pent up demand.
Moody's do not expect any debt paydown as the company continues to
focus on tuck-in acquisitions. The company needs to demonstrate
volume and EBITDA improvements to improve leverage in line with the
rating.

The credit profile is constrained by exposure to cyclical end
markets. Almost 70% of the company's revenues are tied to new home
construction or repair and remodeling activity through products for
PVC pipes, casing for electrical wires and cables and large
appliances. In addition, 14% of sales are tied to transportation
and 11% to industrial end markets. While the company's EBITDA
declined 33% from a peak in 2022 due to destocking and weaker
demand, the company added debt as it continues to grow through
acquisitions. Since Moody's initial rating assignment in July 2021,
balance sheet debt has increased by about $100 million or 16% to
$696 million. The private equity ownership and growth strategy
through debt-funded acquisitions continues to constrain GEON's
credit profile.

GEON's rating is supported by its extensive industry expertise with
a leading position in the polyvinyl chloride (PVC) compounding
market and as one of the top independent polypropylene (PP)
formulators and its considerable expertise in other polymers such
as polyethylene, polycarbonates and nylons. The credit profile is
tempered by the fragmented nature of the compounding business with
relatively low barriers to entry. GEON has a large,
well-established manufacturing footprint, well-known brand name and
a diverse customer base with stable and long-term relationships.
The rating also assumes that GEON will maintain its competitive
position during unanticipated, prolonged economic downturns. GEON's
rating also incorporates low capital expenditure requirements due
to its asset-light business model, which should enable the company
to translate most of the EBITDA into free cash flow.

GEON is expected to maintain good liquidity. The company had $116
million of cash as of September 2024. Pro forma for the Foster
acquisition, the cash balance is expected to decline to $13
million. The company also has an undrawn $60 million revolving
credit facility that expires in August 2026. The revolver has a
springing maximum First Lien Net Leverage Ratio of 6.65x, which
will be tested when the outstanding balance exceeds 35% of the
revolver commitment. Moody's expect the company to generate
positive free cash flow in 2025.

The stable outlook reflects Moody's expectations that modest
recovery in the legacy business and additional earnings from Foster
acquisition will return credit metrics in line with the rating.

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

Given the small scale and acquisition-driven growth strategy, an
upgrade is unlikely at this time. Moody's would likely upgrade the
rating with expectations for adjusted financial leverage
(Debt/EBITDA) sustained below 4.0x, retained cash flow-to-debt
(RCF/Net Debt) above 12.5% on a sustained basis and if its sponsors
adhere to more conservative financial policies, including absolute
debt reduction and no further dividends to shareholders.

Moody's could downgrade the rating if the company's acquisitive
strategy results in sustained increase in balance sheet debt
without commensurate growth in earnings, such that adjusted
financial leverage sustainably exceeds 6.0x, EBITDA/Interest
declines below 1.5x, free cash flow is negative and liquidity
deteriorates.

GEON Performance Solutions, LLC, headquartered in Westlake, OH, was
formed after SK Capital Partners completed the acquisition of
Avient Corporation's (fka PolyOne Corporation) Performance Products
& Solutions business in October 2019. GEON is the leading polyvinyl
chloride compounder for the building and construction, industrial
and wire and cable end markets, a top 4 independent polyolefin
formulator and also provides contract manufacturing services for
customers. The company operates in two primary segments, Vinyl and
Engineered Polymer Solutions. GEON reported revenue of $641 million
in the twelve months ended September 2024.

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


GRUPO HIMA: IRS Contests Bankruptcy Plan Over $5.7MM Claim
----------------------------------------------------------
Angelica Serrano-Roman of Bloomberg Law reports that the Internal
Revenue Service has urged a bankruptcy court to reject Grupo HIMA
San Pablo, Inc.'s proposed liquidation plan, arguing that it does
not adequately address priority claims for unpaid taxes.

In a filing with the U.S. Bankruptcy Court for the District of
Puerto Rico on January 27, the IRS stated that the plan falls short
in fully covering priority claims, which total $5.7 million of the
$18 million in claims for unpaid employment and unemployment taxes
dating back to at least 2018, the report states.

Under the proposed plan, only approximately $638,000 would be
allocated to the IRS, leaving the rest of the claims unresolved,
according to Bloomberg Law.

             About Grupo Hima San Pablo

Grupo HIMA San Pablo, Inc. serves as a diversified healthcare
services holding company pursuant to a corporate reorganization of
several businesses related by common ownership. Through its
subsidiaries and affiliates, Grupo HIMA San Pablo primarily owns
and operates hospital facilities and other healthcare related
businesses. As of August 2023, the HIMA GROUP operates four
hospitals, with over 1,200 licensed beds, including an Oncological
Hospital, a multi-specialty physician practice management company,
Home Care Service (including infusion therapies and wound care), a
free-standing ambulatory center and a 16-ambulance service
company.

Grupo HIMA San Pablo and its affiliates filed Chapter 11 petitions
(Bankr. D. P.R. Lead Case No. 23-02510) on Aug. 15, 2023. In the
petition signed by its chief executive officer, Armando J.
Rodriguez-Benitez, Grupo HIMA San Pablo disclosed $500 million to
$1 billion in assets and $100 million to $500 million in
liabilities.

Judge Enrique S. Lamoutte Inclan oversees the cases.

Wigberto Lugo Mender, Esq., at Lugo Mender Group, LLC and
Pietrantoni Mendez & Alvarez, LLC serve as the Debtors' bankruptcy
counsel and special counsel, respectively.

The U.S. Trustee for Region 21 appointed an official committee of
unsecured creditors on Sept. 7, 2023. Porzio, Bromberg & Newman,
P.C. is the committee's legal counsel.

Edna Diaz De Jesus is the patient care ombudsman appointed in the
Debtors' Chapter 11 cases.


H-FOOD HOLDINGS: First Lien Claims Will Get 41% to 46% in Plan
--------------------------------------------------------------
H-Food Holdings, LLC, and Its Affiliated Debtors submitted a
Disclosure Statement for the Second Amended Joint Chapter 11 Plan
of Reorganization dated January 22, 2025.

The Plan encompasses a comprehensive restructuring of the Debtors,
which is the product of the Debtors' arm's-length negotiations and
an agreement with certain Consenting Stakeholders that have
executed the Restructuring Support Agreement, including holders of
approximately 97.8% of the First Lien Claims, 100% of the Second
Lien Term Loan Claims, 79.3% of the Unsecured Notes Claims, and the
Sponsors.

Specifically, the proposed restructuring contemplates, among
others, things:

     * a reduction of the Debtors' funded debt as of Petition Date
of approximately $2.0 billion;

     * a backstopped equity rights offering (the "Equity Rights
Offering") providing for subscription rights to purchase $200
million of the Reorganized Equity (subject to dilution from the
MIP) which the proceeds of such Equity Rights Offering will be used
to (i) repay outstanding amounts under the DIP Facility, (ii)
provide the Reorganized Debtors with additional liquidity for
working capital and general corporate purposes, and (iii) ensure at
least $100 million of Reorganized Company pro forma cash balance at
emergence; and

     * the Reorganized Company to (i) incur a secured term loan
facility in the aggregate principal amount of $725 million (the
"Exit First Lien Term Loan Facility"), and (ii) use commercially
reasonable efforts to raise a revolving facility with up to $375
million in commitments (the "Exit Revolving Facility"), through a
super-senior balance sheet asset-based revolver.

Class 3 consists of First Lien Claims. Except to the extent that a
Holder of an Allowed First Lien Claim agrees to a less favorable
treatment of such Claim, each Holder of a First Lien Claim (or its
designated Affiliate, managed fund or account or other designee)
shall receive, in full and final satisfaction, settlement, release,
and discharge of such Claim, on the Plan Effective Date, its
elected Pro Rata share of: (i) 100% of the Exit First Lien Term
Loans; (ii) 100% of the Reorganized Equity, subject to dilution by
the Equity Rights Offering and the Management Incentive Plan; and
(iii) if any of the Second Lien Term Loan Claims Class, the Senior
Unsecured Notes Claims Class, or the General Unsecured Claims Class
do not vote to accept the Plan, the cash distribution that would
otherwise have been made to any such rejecting Class(es).

Class 3 will receive a distribution of 41% to 46% of their allowed
claims. Each Holder of a First Lien Claim (or its designated
Affiliate managed fund or account or other designee) that properly
exercises its Equity Rights Offering rights to purchase Reorganized
Equity shall receive such Reorganized Equity on the Plan Effective
Date.

The Debtors and Required Consenting First Lien Lenders have agreed
to a reduction of the aggregate Exit First Lien Term Loan Facility
by $100 million, from the originally contemplated $825 million to
$725 million, and to waive any amortization payments for the first
two years post-emergence. The reduction in post-emergence
indebtedness will increase the Reorganized Debtors' equity value by
a corresponding amount, i.e., increasing the Reorganized Equity
value range by $100 million, to a range of $350 million to $750
million with a midpoint of $550 million, as provided in the
Debtors’ updated Valuation Analysis.

The $470 million stipulated equity value for the Equity Rights
Offering and the 35% discount to the stipulated equity value
remains unchanged, and the stipulated equity value remains in the
equity value range as provided in the Debtors' updated Valuation
Analysis. Using the midpoint of the revised Reorganized Equity
value range, the implied discount percentage increases but remains
similar to rights offering in other large chapter 11 cases.

The Reorganized Company shall cause one of its subsidiaries to
issue a new first lien "take back" term loan facility in the
aggregate principal amount of $725 million (the "Exit First Lien
Term Loan", and together with the Exit Facility, the "New
Reorganized Debt"), to be provided by the holders of First Lien
Claims via a conversion of a pro rata portion of their First Lien
Claims pursuant to applicable credit documentation (the "Exit First
Lien Term Loan Credit Agreement"). The New First Lien Term Loan
shall have a first lien on substantially all assets of the
applicable subsidiary of the Reorganized Company that issued the
Exit First Lien Term Loan, excluding the Exit Revolver Facility
Collateral (the "Exit First Lien Term Loan Collateral"), and second
lien on the Exit Revolver Facility Collateral.  

Pursuant to the RSA and on the Petition Date, the Exit First Lien
Term Loan was originally contemplated to be an aggregate principal
amount of $825 million. Following ongoing engagement with the First
Lien Ad Hoc Group, however, the Debtors and the Required Consenting
First Lien Lenders have agreed to reduce the aggregate Exit First
Lien Term Loan Facility by $100 million, from $825 million to $725
million and to waive any amortization payments for the first two
years post-emergence, allowing the Debtors to emerge from Chapter
11 Cases with $100 million of less debt and reduced leverage, and
permitting the Debtors to use incremental cash savings to fund
operations, capital expenditures, and reinvestment.

On January 15, 2025, he Debtors filed with the Bankruptcy Court a
motion (the "KEIP/KERP Motion") seeking authority to implement a
key employee incentive program (the "Proposed KEIP") and a key
employee retention program (the "Proposed KERP"). Under the
Proposed KEIP, eight members of the Debtors' senior management team
would be eligible to receive awards based on their ability to meet
performance targets. The performance targets are an equal weighting
of a sales-based metric and a profit-based metric. The KEIP's
initial performance period consists of the four months ending on
March 31, 2025.

Thereafter, to the extent the Plan is not yet consummated, there
shall be supplemental performance periods running in three-months
increments. The maximum amount expected to be earned during the
initial performance period is $7,406,667, and the maximum amount
that may be earned if Plan is not consummated by March 31, 2025 is
$24,071,666. The Debtors will file a notice with the performance
metrics for supplemental performance period if the Plan is not
consummated by March 31, 2025.

Under the Proposed KERP, 157 of the Debtors' non-executive
employees would be eligible to receive awards in quarterly
installments of $1,764,790 if such employees remained with the
Company until the earlier of (i) twelve months, i.e. until November
30, 2025, and (ii) the Debtors' emergence from these Chapter 11
Cases. The first installment under the key employee retention
program (the "KERP") was paid prepetition to the KERP participants,
subject to a clawback until March 31, 2025. The remaining
installments will be paid quarterly on the following dates: March
31, 2025, August 31, 2025, and November 30, 2025. Upon consummation
of the Plan, the KERP award will be pro-rated for the quarter in
which the Plan is consummated.

The Reorganized Company shall fund distributions under the Plan
with (i) cash on hand, (ii) the issuance of the Reorganized Equity,
(iii) proceeds of the Equity Rights Offering, (iv) the Exit First
Lien Term Loans, and (v) the Exit Revolving Facility.

The Confirmation Hearing is scheduled for March 10, 2025 at 1:00
p.m.

A full-text copy of the Disclosure Statement dated January 22, 2025
is available at https://urlcurt.com/u?l=fzVQ3l from
PacerMonitor.com at no charge.

Co-Counsel to the Debtors:          

                  John F. Higgins, Esq.
                  M. Shane Johnson, Esq.
                  Jack M. Eiband, Esq.
                  PORTER HEDGES LLP
                  1000 Main St., 36th Floor
                  Houston, Texas 77002
                  Tel: (713) 226-6000
                  Fax: (713) 228-1331
                  Email: jhiggins@porterhedges.com
                         sjohnson@porterhedges.com
                         jeiband@porterhedges.com

Co-Counsel to the Debtors:          

                  Ryan Preston Dahl, Esq.
                  Matthew M. Roose, Esq.
                  Natasha S. Hwangpo, Esq.
                  ROPES & GRAY LLP
                  1211 Avenue of the Americas
                  New York, New York 10036
                  Tel: (212) 596-9000
                  Fax: (212) 596-9090
                  E-mail: ryan.dahl@ropesgray.com
                          matthew.roose@ropesgray.com
                          natasha.hwangpo@ropesgray.com

                    - and -

                  Stephen L. Iacovo, Esq.
                  ROPES & GRAY LLP
                  191 North Wacker Drive, 32nd Floor
                  Chicago, Illinois 60606
                  Tel: (312) 845-1200
                  Fax: (312) 845-5500
                  E-mail: stephen.iacovo@ropesgray.com

                     About H-Food Holdings

H-Food Holdings, LLC, formerly known as Matterhorn Merger Sub, LLC,
was founded in 2009 in Grand Rapids, Mich. The company and its
affiliated debtors are a contract manufacturer of food products,
producing and supplying, among other things, nutrition bars, frozen
packaged foods, meal kits, snacks, sauces, refrigerated trays,
overwrap, custom packaging solutions, and more to customers. As the
largest food co-manufacturer in North America, the Debtors
manufacture some of the most valued and recognizable brands, and
the Debtors' key customers include many of the leading consumer
packaged goods customers in North America.

The Debtors filed Chapter 11 petitions (Bankr. S.D. Texas Lead Case
No. 24-90586) on Nov. 22, 2024, listing $1 billion to $10 billion
in both assets and liabilities. Robert M. Caruso, chief
restructuring officer, signed the petitions.

Judge Alfredo R. Perez presides over the cases.

The Debtors tapped Ropes & Gray, LLP as general bankruptcy counsel;
Porter Hedges, LLP as co-bankruptcy counsel; Evercore Group, LLC as
investment banker; and Alvarez & Marsal North America, LLC as
financial advisor.


HAIRLAND CORP: Court Denies Barbershop Equipment Sale
-----------------------------------------------------
The U.S. Bankruptcy Court for the District of Puerto Rico has
denied Hairland Corp.'s motion to sell ita barbershop assets free
and clear of liens.

The Debtor's assets include 1 cash register, radio, TV, 1 desk with
chair, 3 waiting chairs, mirrors, water coolers at a market value
of $500. Also listed as the Debtor's asset are 8 barber chairs, 8
working stations, 1 shampoo bowl, scissors, blowers, barber razors,
hair cutters and cameras at a market value of $3,000, for a total
estimated equipment value of $3,500.

The Debtor's Chapter 11 plan was confirmed on August 2, 2017.

The single owner of the Debtor's stock, Mr. Rafael Burgos Lopez,
passed away on January 13, 2024, and the company has been
administered by his brother Mr. Carlos R. Burgos Lopez and only
surviving corporate official.

Mr. Carlos Burgos has no legal obligation with the Debtor to
continue operating the business in favor of his brother's
corporation.

Mr. Rafael Burgos' only heirs are his two minor children ages 12
and 14 and the children's mother, Ms. Lizza M. Diou Rovira, has
requested Mr. Carlos Burgos to close the business since she will
not take over the same in favor of her children and will not
continue to make the scheduled payments to complete the
confirmation plan.

Mr. Carlos Burgos requests the Court to grant his request to
purchase all of the Debtor's assets free and clear of liens and
third party interests.

However, the Court denied the Debtor's motion for two reasons: the
case has not been reopened and the attorney appearing for the
debtor corporation has not been authorized by the court to do so.

The Court determined that the facts leading to the request to sell
property involve issues that should be first addressed by the
courts of Puerto Rico, therefore, the court exercises its
discretion to engage in permissive abstention.

The Court also held that the motion does not plead, identify or
include a record of liens over the property therein described. In
addition to the factual complexity and relevant state (Puerto Rico)
law, there appears to be no significant benefit to the estate.

                   About Hairland Corp.

Headquartered at San Juan, Puerto Rico, Hairland Corporation
manages a barbershop.  The Debtor filed a petition for relief under
Chapter 11 of the Bankruptcy Code (Bankr. D.P.R. Case No. 17-00286)
on Jan. 23, 2017.

Honorable Judge Enrique S Lamoutte Inclan presides over the case.

The Debtor is represented by Emily Darice Davila Rivera, Esq., at
the Law Office of Emily D. Davila Rivera.


HBL SNF: No Resident Care Concerns, 13th PCO Report Says
--------------------------------------------------------
Joseph Tomaino, the court-appointed patient care ombudsman, filed
with the U.S. Bankruptcy Court for the Southern District of New
York his 13th report regarding the quality of patient care provided
at HBL SNF, LLC's nursing facility in White Plains, N.Y.

The 13th report covers the period from July 16, 2024 to January 22,
2025.

The report contains the PCO's findings from his visit to the White
Plains facility, during which he interviewed the facility
administrator. The facility administrator reports that census has
been strong. Staffing challenges continue as they do for most
facilities at this time. He described the efforts the facility has
been undertaking to address recruitment, including on-line
advertising and job fairs.

During this reporting period, the PCO received a complaint call
from a patient who was placed in the facility after surgery
following a motor vehicle accident. She stated that the facility
was seeking payment from her for care as her no fault coverage had
been exhausted, and she is concerned because she has to have more
surgery and will need more care.

The PCO explained that the facility is entitled to receive payment
for their services and asked if she was represented by Counsel in
the accident case. She said she was, so the PCO recommended that
she discuss with Counsel options she may have legally against the
individual responsible for the accident and if some arrangement can
be made for guarantee of payment of the facility by their insurance
company. The patient indicated that she was very satisfied with her
care, and that the administrator was very kind to her in these
payment discussions.

The PCO observed that there appears to be no difficulty currently
meeting payroll obligations nor with obtaining supplies,
medications and vendor services. There are no reported or
observable staffing, medical records, or quality of care issues.
HBL SNF and management have been cooperative, and communication
with the PCO appears to be transparent.

A copy of the 13th ombudsman report is available for free at
https://urlcurt.com/u?l=29zZt3 from Omni Agent Solutions, claims
agent.

                          About HBL SNF

HBL SNF, LLC, doing business as Epic Rehabilitation and Nursing at
White Plains, operates a 160-bedroom skilled nursing and
rehabilitation facility located at 120 Church St., White Plains,
N.Y. The facility, which opened in late 2019, provides an array of
healthcare services, including neurological, respiratory,
orthopedic, occupational, psychiatric, and many other medical and
rehabilitative services.

HBL SNF filed a petition under Chapter 11, Subchapter V of the
Bankruptcy Code (Bankr. S.D.N.Y. Case No. 21-22623) on Nov. 1,
2021, listing $9,131,311 in total assets and $20,128,876 in total
liabilities. Heidi J Sorvino, Esq., at White and Williams, LLP
serves as Subchapter V trustee.

Judge Sean H. Lane oversees the case.

The Debtor tapped Klestadt Winters Jureller Southard & Stevens, LLP
as bankruptcy counsel; Michelman & Robinson, LLP as special
litigation counsel; and HMM CPAs, LLP as accountant.

Joseph J. Tomaino, the patient care ombudsman appointed in the
case, is represented by SilvermanAcampora, LLP.


HERITAGE HOTELS: Plan Exclusivity Period Extended to April 21
-------------------------------------------------------------
Judge Marvin Isgur of the U.S. Bankruptcy Court for the Southern
District of Texas extended Heritage Hotels Rockport LLC's exclusive
periods to file a plan of reorganization and disclosure statement
to April 21, 2025.

As shared by Troubled Company Reporter, the Debtor owned and
operated the Lighthouse Inn at Aransas Bay in Rockport Texas at the
time of Bankruptcy filing.

The Debtors timely completed their initial filing requirements, are
current on US Trustee fees and operating reports, and have
otherwise complied with all requirements of the Bankruptcy Code and
this Court.

In addition, a Plan has been filed and a hearing on the Disclosure
Statement has been held. The Court, at the parties' request has
delayed entering an Order approving the Disclosure Statement
pending submission of certain modifications and conclusion of the
status conference set in Adversary Proceeding No. 24-02007 pending
before this court.

Counsel for the Debtor:

     Vincent Slusher, Esq.
     2121 N. Akard St.
     Suite 250
     Dallas TX 75201
     Telephone: (214) 478-5926
     Email: Vince.Slusher@faegredrinker.com

                  About Heritage Hotels Rockport

Heritage Hotels is part of the traveler accommodation industry.

Heritage Hotels Rockport LLC in Marble Falls, TX, filed its
voluntary petition for Chapter 11 protection (Bankr. S.D. Tex. Case
No. 24-20201) on July 24, 2024, listing as much as $10 million
to$50 million in both assets and liabilities. James R. Reese as
manager, signed the petition.

LAW OFFICE OF VINCENT SLUSHER is serving as the Debtor's legal
counsel.


HOLIDAY CREATIONS: Voluntary Chapter 11 Case Summary
----------------------------------------------------
Debtor: Holiday Creations Pro, Inc.
        4417 SE 16th Pl
        Unit 13
        Cape Coral FL 33904
       
Business Description: Holiday Creations is a full-service holiday
                      lighting company specializing in the design,
                      installation, maintenance, takedown, and
                      storage of festive lighting displays.  The
                      Company caters to both residential and
                      commercial clients, offering customized
                      solutions.

Chapter 11 Petition Date: January 29, 2025

Court: United States Bankruptcy Court
       Middle District of Florida

Case No.: 25-00154

Judge: Hon. Caryl E Delano

Debtor's Counsel: Michael Dal Lago, Esq.
                  DAL LAGO LAW
                  999 Vanderbilt Beach Rd. Suite 200
                  Naples FL 34108
                  Tel: 239-571-6877
                  E-mail: mike@dallagolaw.com

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

Estimated Liabilities: $1 million to $10 million

The petition was signed by Derek Norwood as CEO.

The Debtor failed to include a list of its 20 largest unsecured
creditors in the petition.

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

https://www.pacermonitor.com/view/UATIU3I/Holiday_Creations_Pro_Inc__flmbke-25-00154__0001.0.pdf?mcid=tGE4TAMA


HOSPITALITY AT YORK: Gets OK to Use Cash Collateral Until Feb. 28
-----------------------------------------------------------------
Hospitality at York, LLC got the green light from the U.S.
Bankruptcy Court for the Middle District of Pennsylvania to use
cash collateral until Feb. 28.

The order signed by Judge Henry Van Eck authorized the company to
use cash collateral on an interim basis to pay the expenses set
forth in its budget, which shows total monthly expenses of
$179,460.97.

As protection for the use of its cash collateral, First
Commonwealth Bank was granted a replacement lien to the same extent
and with the same priority and validity as its pre-bankruptcy
lien.

First Commonwealth Bank will receive a monthly payment of $23,725
as additional protection.

A final hearing is scheduled for Feb. 25.

First Commonwealth Bank can be reached through its counsel:

     Justin L. McCall, Esq.
     McGrath McCall, P.C.
     Four Gateway Center, Suite 1340
     444 Liberty Avenue
     Pittsburgh, PA 15222
     Telephone (412) 281-4333
     Facsimile (412) 281-2141
     jmccall@lenderlaw.com

                      About Hospitality at York

Hospitality at York, LLC is the owner of real property located at
18 Cinema Drive, York, Pa., valued at $7 million.

Hospitality at York filed its voluntary petition for relief under
Chapter 11 of the Bankruptcy Code (Bankr. M.D. Pa. Case No.
24-02372) on September 20, 2024, listing $7,079,170 in assets and
$7,110,419 in liabilities. Hospitality at York President Parag
Parikh signed the petition.

Judge Henry W Van Eck presides over the case.

The Debtor is represented by:

    Ellen M McDowell
    Mcdowell Law, PC
    46 West Main St.
    Maple Shade, NJ 08052
    Tel: 856-482-5544
    Fax: 856-482-5511
    Email: emcdowell@mcdowelllegal.com


HOYA MIDCO: S&P Rates New $393MM Term Loan B 'BB-'
--------------------------------------------------
S&P Global Ratings assigned its 'BB-' issue-level rating and '2'
recovery rating to Hoya Midco LLC's (dba Vivid Seats;
B+/Positive/--) proposed $393 million term loan B due in February
2029. The '2' recovery rating indicates its expectation of
substantial (70%-90%; rounded estimate: 70%) recovery for lenders
in the event of a payment default.

The online ticketing platform plans to use the proceeds to repay
the remaining $393 million existing term loan and pay fees and
expenses. The proposed refinancing is debt-for-debt and therefore
credit neutral, although we expect it to lower the company's annual
interest costs by roughly $2 million. As a result, it does not
affect our 'B+' issuer credit rating or positive outlook on Vivid
Seats.

S&P currently forecasts Vivid Seats to maintain S&P Global
Ratings-adjusted gross leverage in the mid- to high-3x area through
2025. As of Sept. 30, 2024, Vivid Seats had about $160 million in
balance sheet liabilities related to its tax receivable agreement
(TRA) with its previous sponsor, GTCR LLC, which S&P treats as debt
and include in our S&P Global Ratings-adjusted leverage
calculation. Further reductions in ownership by GTCR could result
in additional TRA liabilities and could result in leverage above
our base-case assumptions.

ISSUE RATINGS--RECOVERY ANALYSIS

Key analytical factors

-- S&P's simulated default scenario in 2028 contemplates a
combination of failed acquisitions, severe secondary ticketing
volume declines stemming from macroeconomic impacts, regulatory
actions, competition from primary ticketing peers, and an economic
downturn.
-- S&P believes the company's lenders would reorganize rather than
liquidate in a hypothetical default due to the company's status as
one of the top three players in the market and its strong
relationship with various sellers.

-- The company's capital structure consists of a $100 million
revolving credit facility (undrawn) and $393 million outstanding on
the first-lien term loan maturing in 2029.

Hoya Midco LLC is the borrower of the senior secured debt. All of
the company's material domestic subsidiaries guarantee the debt,
which benefits from a lien on substantially all of the U.S. assets
of the borrower and the guarantors and 65% of the capital stock of
each foreign subsidiary.

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

Simulated default assumptions

-- Year of default: 2029
-- EBITDA at emergence: $63 million
-- Implied enterprise value multiple: 6x

Simplified Waterfall

-- Net enterprise value (after 5% administrative cost): About
$358.9 million

-- Senior secured debt claims: $479.6 million

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



IGNITE OPTICS: Gets Final OK to Use Cash Collateral Until March 30
------------------------------------------------------------------
Ignite Optics Communications, LLC received final approval from the
U.S. Bankruptcy Court for the District of Colorado to use cash
collateral until March 30.

The company must use cash collateral to continue its business
operations post-petition and maintain its inventory.

Secured creditors including Benchmark Factors, LLC, Everest Funding
and Highland Capital were provided with adequate protection in the
form of a post-petition lien on inventory, accounts, proceeds, and
income derived from the business.

In addition, secured creditors may be entitled to an administrative
expense claim to the extent of any diminution in value of their
interest in the cash collateral.

Prior to its Chapter 11 filing, Ignite Optics Communications
entered into a factoring agreement with Benchmark pursuant to which
the company agreed to sell certain of its receivables to Benchmark
in exchange for payment of a majority of the face value of the sold
receivable.  The company's agreement with Benchmark is a true
factoring agreement, giving Benchmark a right to collection of the
factored receivable and a lien on that receivable upon payment of
the agreed amount to the company.

The company will be replacing its accounts, cash, and cash
equivalents in the course of its daily operations and therefore the
collateral base will remain stable and will improve over time. Its
cash position is projected to be positive after meeting expenses
during the term of its Chapter 11 case.

                About Ignite Optics Communications

Ignite Optics Communications, LLC sought protection under Chapter
11 of the U.S. Bankruptcy Code (Bankr. D. Colo. Case No. 24-17506)
on December 19, 2024, with $100,001 to $500,000 in assets and
$500,001 to $1 million in liabilities.

Judge Kimberley H. Tyson presides over the case.

The Debtor is represented by:

    Keri L. Riley, Esq.
    Kutner Brinen Dickey Riley, P.C.
    Tel: 303-832-2400
    Email: klr@kutnerlaw.com


IM3NY LLC: Receives Interim Approval for Chapter 11 Loan
--------------------------------------------------------
Emily Lever of Law360 Bankruptcy Authority reports that on January
29, a Delaware bankruptcy judge granted interim approval for iM3NY,
a lithium-ion battery manufacturer, to tap into part of a $17.5
million Chapter 11 financing from its senior lender, along with
several other routine motions.

                         About IM3NY LLC

IM3NY LLC -- https://im3ny.com/ -- is an independent lithium-ion
cell manufacturer that is commercializing cell chemistry developed
in the USA.

IM3NY LLC sought relief under Chapter 11 of the U.S. Bankruptcy
Code (Bankr. D. Del. Lead Case No. 25-10131) on January 27, 2025.
In its petition, the Debtor reports estimatd assets between $50
million and $100 million and estimated liabilities between $100
million and $500 million.

Honorable Bankruptcy Brendan Linehan Shannon handles the case.

The Debtor is represented by William E. Chipman, Jr., Esq., at
Chipman Brown Cicero & Cole, LLP, in Wilmington, Delaware.

The Debtor's financial advisor is Novo Advisors. The Debtors'
Investment Banker is Hilco Corporate Finance. The Debtors' Noticing
Claims Management and Reconciliation Consultant is Stretto, Inc.


INDIVIDUALIZED ABA: Hires RHM Law LLP as Bankruptcy Counsel
-----------------------------------------------------------
Individualized Aba Services for Families LLC seeks approval from
the U.S. Bankruptcy Court for the Northern District of California
to employ RHM Law LLP as Bankruptcy Counsel.

The firm will provide these services:

     a. understand the scope of his duties as well as the
activities and events of the case which are relevant to performing
such obligations, so that he can adequately and efficiently
discharge his duties;

     b. analyze, draft and file (via the ECF system) his reports
and other required documents in this case;

     c. analyze filings in the case and determine how the requested
relief may impact the case and patients; and

     d. render discussions, negotiations, meetings and Court
hearings that relate to his duties as the PCO.

The firm will be paid at these rates:

     Roksana D. Moradi-Brovia     $650 per hour
     Paralegals                   $135 per hour

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

Roksana D. Moradi-Brovia, Esq., a partner at RHM Law LLP, disclosed
in a court filing that the firm is a "disinterested person" as the
term is defined in Section 101(14) of the Bankruptcy Code.

The firm can be reached at:

     Roksana D. Moradi-Brovia, Esq.
     RHM LAW LLP
     17609 Ventura Blvd., Suite 314
     Encino, CA 91316
     Telephone: (818) 285-0100
     Facsimile: (818) 855-7013
     Email: roksana@RHMFirm.com

              About Individualized Aba Services for Families LLC

Individualized ABA Services for Families, LLC sought relief under
Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D.
Calif. Case No. 24-41559) on October 2, 2024, with total assets of
$193,244 and total liabilities of $1,635,914. Raajna Naidu, chief
executive officer, signed the petition.

Judge William J. Lafferty oversees the case.

The Debtor is represented by Michael Jay Berger, Esq., at the Law
Offices of Michael Jay Berger.


INFINERA CORP: Secures $93-Mil. Under CHIPS Act for New Facilities
------------------------------------------------------------------
Infinera Corp. disclosed in a Form 8-K Report filed with the U.S.
Securities and Exchange Commission that it entered into a direct
funding agreement with the U.S. Department of Commerce under the
Creating Helpful Incentives to Produce Semiconductors and Science
Act of 2022.

Under the Direct Funding Agreement, the DOC has agreed to award the
Company up to $93 million in direct funding related to the
construction of a fabrication facility located in California and a
photonics packaging and test facility located in Pennsylvania.

The DOC will disburse the Awards funding to the Company based on
the achievement of various milestones, with each disbursement
reimbursing the Company for eligible uses of funds already incurred
and paid by the Company. Disbursements are Project-specific and
subject to the achievement of various capital expenditure, facility
development, production qualification, the receipt of applicable
permits and other governmental approvals, and various other
conditions.

The Direct Funding Agreement contains representations, warranties
and covenants applicable to the Company, including with respect
to:

     (i) delivering a letter of support and guarantee from Nokia
Corporation, a company incorporated under the laws of the Republic
of Finland ("Nokia") after completion of the Merger,
    (ii) restrictions on dividends and share repurchases,
   (iii) restrictions on the expansion of semiconductor
manufacturing capacity in certain foreign countries,
    (iv) restrictions on joint research and technology licensing
with certain foreign entities,
     (v) restrictions on the use or installation of prohibited
equipment that is manufactured or assembled by certain foreign
entities,
    (vi) compliance with various federal regulations and
requirements and
   (vii) limitations on dispositions of the Projects, including
through dispositions of equity interests in the Projects.

The Direct Funding Agreement contains restrictions on certain
"change of control" transactions (excluding the transactions
contemplated by that certain Agreement and Plan of Merger, dated
June 27, 2024, by and among the Company, Nokia, and Neptune of
America Corporation, a corporation organized under the laws of
Delaware; such transactions, the "Merger"). "Change of Control" as
defined in the Direct Funding Agreement means the occurrence of any
of the following:

     (i) prior to completion of the Merger, the Company ceasing to
be owned 100% by persons holding, directly or indirectly, shares
that are not restricted or closely held, but are freely available
to the public for trading on any national securities exchange
approved by or registered with the competent securities regulator
of the relevant country;
    (ii) prior to completion of the Merger, any person or two or
more persons acting in concert acquiring or entering into a
contract or arrangement that results in such person or persons
exercising, directly or indirectly, a controlling influence over
the management or policies of the Company, or control over the
equity securities of the Company entitled to vote for members of
the board of directors on a fully-diluted basis representing more
than 35% of the combined voting power of such securities;
   (iii) on or after completion of the Merger, Nokia ceasing,
directly or indirectly, to hold at least 67% of the voting equity
securities or the economic value of the equity securities of the
Company; and
    (iv) on or after completion of the Merger, Nokia ceasing to
maintain the power, directly or indirectly, to direct or cause the
direction of the management, business or policies of the Company.

In the event of certain significant breaches under the Direct
Funding Agreement by the Company (e.g., CHIPS Act program
requirements, change of control restrictions, project abandonment,
etc.), the DOC may have termination rights and other remedies. Such
rights and remedies vary depending on the nature of such breach,
but can include:

     (i) requiring the repayment of some or all of the Awards;
    (ii) imposing additional conditions on the Awards;
   (iii) suspending or terminating all or any portion of the
Awards;
    (iv) withholding or suspending a disbursement of the Awards;
     (v) terminating the Direct Funding Agreement and the Awards;
and
    (vi) taking other actions available to the DOC.

In connection with the Company's entry into the Direct Funding
Agreement, on January 16, 2025, the Company entered into the Fourth
Amendment to Loan, Guaranty and Security Agreement, among the
Company, the other obligors party thereto, the lenders that are a
party thereto, and Bank of America, N.A., as administrative agent.
The Loan Amendment amends that certain Loan, Guaranty and Security
Agreement, dated as of June 24, 2022 (as amended from time to
time), among the Company, the other obligors party thereto, the
lenders party thereto, and the Agent, to permit the Company to
enter into and perform its obligations under the Direct Funding
Agreement.

                       About Infinera Corp.

Headquartered in Sunnyvale, Calif., Infinera Corp. --
www.infinera.com -- is a semiconductor manufacturer and global
supplier of networking solutions comprised of networking equipment,
optical semiconductors, software and services. The Company's
portfolio of solutions includes optical transport platforms,
converged packet-optical transport platforms, compact modular
platforms, optical line systems, coherent optical engines and
subsystems, a suite of automation software offerings, and support
and professional services. Leveraging its U.S.-based compound
semiconductor fabrication plant and in-house test and packaging
capabilities, the Company designs, develops and manufactures indium
phosphide-based photonic integrated circuits for use in its
vertically integrated, high-capacity optical communications
products.

Infinera reported a net loss of $25.21 million for the year ended
Dec. 30, 2023, compared to a net loss of $76.04 million for the
year ended Dec. 31, 2022. As of June 29, 2024, Infinera had $1.52
billion in total assets, $604.45 million in total current
liabilities, $660.42 million in long-term debt, $14.52 million in
long-term accrued warranty, $21.98 million in long-term deferred
revenue, $1.69 million in long-term deferred tax liability, $44.79
million in long-term operating lease liabilities, $39.38 million in
other long-term liabilities, and $131.59 million in total
stockholders' equity.


                           *     *     *

Egan-Jones Ratings Company, on September 18, 2024, maintained its
'CC' foreign currency and local currency senior unsecured ratings
on debt issued by Infinera Corporation.


ISLAND VIEW: Seeks to Use Cash Collateral Until March 11
--------------------------------------------------------
Island View Ranch, LLC asked the U.S. Bankruptcy Court for the
Central District of California, Northern Division, for authority to
use cash collateral until March 11.

The Debtor is managing a 9.13-acre agricultural property,
collecting rents from nine tenants. Eight tenants are unrelated to
the Debtor, but one, Island Breeze Farms LLC (a cannabis grower),
has insider connections. Island Breeze, originally owned by James
Mesa, Lois von Morganroth, and Dylan Hyde, saw its ownership change
after Mesa's death, with his 75% interest passing to Robyn Whatley.
The Debtor aimed to secure a permanent cannabis cultivation
license, which would increase the property's value, but the county
rejected the appeal for this license in November 2024.

Due to income shortfalls and failure to secure the license, the
Debtor could not pay the mortgage balloon note, leading to
foreclosure proceedings. The property, valued at around $6.4
million to $6.9 million, is at risk of losing significant equity if
sold through foreclosure. The Debtor filed for bankruptcy to
prevent foreclosure, market the property, and sell it for a higher
price, benefiting creditors.

Since July 2024, the First Trust Deed Lender has collected rent
directly from tenants, excluding Island Breeze, leaving the Debtor
with no income. Additionally, the Debtor faces litigation from
several creditors, including claims related to investment and loan
agreements made by the deceased owner. The Debtor's primary goals
in the bankruptcy are to sell the property, resolve creditor
claims, and negotiate a fair distribution of funds, possibly
through mediation.

Irwin Overbach and Yolanda Overbach, Trustees of the Overbach
Family Trust Dated March 30, 1989 is the Debtor's only voluntary
secured creditor claiming a security interest in the amount of
approximately $4.3 million against the Debtor's real property
located at County of Santa Barbara Assessors Parcel Number
005-280-026. Overbach is the sole voluntary lienholder against the
Property and Debtor disputes any involuntary liens that may be
recorded against the Property.

Overbach's interest in the Property is protected by an adequate
equity cushion whereby their secured claim amount (as of the
December 12,2024, noticed Foreclosure Sale) is $4.3 million and the
estimated fair market value of the Property is $6.4 million, as
evidenced by the most recent Santa Barbara County Tax Assessor
valuation.

The Debtor is Pre-Petition delinquent in paying Santa Barbara
County Property Tax payments, and owes an estimated $450,000 in
arrears, at the time of the Petition's filing. The Debtor's annual
Property Tax obligation is $70,671, or $5,889 per month. Debtor LLC
Members will contribute $5,889, each month after the filing of this
case Petition, to pay to Santa Barbara County Property Tax
payments. Based on the foregoing, the Debtor believes that Santa
Barbara County Treasurer-Tax Collector will be adequately
protected.

The Debtor believes that creditor Overbach is adequately protected
by the continued and uninterrupted operation of the Debtor's
business. The Debtor's use of Cash
Overbach's interest in the Property is protected by an adequate
equity cushion whereby their secured claim amount is $4.3 million
and the estimated fair market value of the Property is $6.422,
million.

Furthermore, the Debtor will make regular monthly post-petition
payments of $19,250. in accordance with the terms of the promissory
note executed between the Debtor and Overbach. Since July 1, 2024,
and each month thereafter.

A hearing on the matter is set for Feb. 25.

                    About Island View Ranch LLC

Island View Ranch LLC is the owner of approximately 9.13 acres of
agricultural zoned land, including raised-bed enclosed greenhouse
grow space, flower drying outbuildings, agricultural storage
outbuildings, occupied by agricultural and commercial tenants that
are paying rent to the Debtor. The Property is located at 3376
Foothill Road, Carpinteria, CA and valued at $6.42 million.

Island View Ranch LLC sought relief under Chapter 11 of the U.S
Bankruptcy Code (Bankr. C.D. Cal. Case No. 24-11404) on December
11, 2024. In the petition filed by Robyn Whatley, as manager
member, the Debtor reports total assets of $6,434,132 and total
liabilities of $9,596,177.

The case is overseen by Honorable Bankruptcy Judge Ronald A.
Clifford III.

The Debtor is represented by John K. Rounds, Esq. at ROUNDS &
SUTTER LLP.


J.C. PENNEY: Sues Jackson Walker Over Bankruptcy Fees
-----------------------------------------------------
Akiko Matsuda of The Wall Street Journal reports that on January
28, the administrators handling J.C. Penney's Chapter 11 case,
filed during the pandemic, sued the company's former law firm,
Jackson Walker, for not disclosing the romantic relationship
between a former partner and the presiding judge.

The lawsuit claims that all legal fees paid to Jackson Walker since
J.C. Penney's 2020 bankruptcy filing should be refunded, alleging
the firm violated its ethical responsibilities by failing to
disclose the relationship between the former partner and ex-Judge
David R. Jones, according to the report.  This is the first private
lawsuit against Jackson Walker for not revealing the information
about the judge, the report states.

             About J.C. Penney Co. Inc.

J.C. Penney Company, Inc. -- http://www.jcpenney.com/-- is an
apparel and home retailer, offering merchandise from an extensive
portfolio of private, exclusive, and national brands at over 850
stores and online. It sells clothing for women, men, juniors, kids,
and babies.

On May 15, 2020, J.C. Penney entered into a restructuring support
agreement with lenders holding 70% of its first lien debt. The RSA
contemplates agreed-upon terms for a pre-arranged financial
restructuring plan that is expected to reduce several billion
dollars of indebtedness.  

To implement the plan, J.C. Penney and its affiliates on May 15,
2020, filed voluntary petitions for reorganization under Chapter 11
of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Lead Case No.
20-20182). At the time of the filing, J.C. Penney disclosed assets
of between $1 billion and $10 billion and liabilities of the same
range.

Judge David R. Jones oversaw the cases.

The Debtors tapped Kirkland & Ellis and Jackson Walker, LLP as
legal counsel; Katten Muchin Rosenman, LLP as special counsel;
Lazard Freres & Co. LLC as investment banker; AlixPartners, LLP as
restructuring advisor; and KPMG, LLP as tax consultant. Prime Clerk
is the claims agent, maintaining the page
http://cases.primeclerk.com/JCPenney                

The committee of unsecured creditors retained Cole Schotz, P.C.,
and Cooley, LLP.

                   *     *     *

J.C. Penney in November 2020 won approval to sell substantially all
of its retail and operating assets ("OpCo") to a group formed by
landlords Brookfield Asset Management, Inc. and Simon Property
Group and senior lenders through a combination of cash and new term
loan debt.
  
Paul, Weiss, Rifkind, Wharton & Garrison LLP was the legal counsel,
and BRG Capital Advisors, LLC, served as financial adviser to Simon
and Brookfield.


JMKA LLC: Court Extends Use of Cash Collateral Until Feb. 14
------------------------------------------------------------
JMKA, LLC received interim approval from the U.S. Bankruptcy Court
for the Northern District of Illinois, Eastern Division, to use
cash collateral until Feb. 14, marking the third extension since
the company's Chapter 11 filing.

The court's previous interim order issued on Jan. 22 allowed the
company to access cash collateral until Jan. 27 only.

The third interim order authorized JMKA to pay its expenses from
the cash collateral of its secured lenders, including the U.S.
Small Business Administration, BayFirst National Bank, Newity Bank,
Funding Circle, and Transportation Alliance Bank, Ameris Bank,
doing business as Balboa Capital.

In return for JMKA's continued use of their cash collateral, the
secured lenders were granted adequate protection for their secured
interests in substantially all of the company's assets, including
cash equivalents, cash and accounts receivable.

Meanwhile, JMKA has agreed to Cashfloit, LLC being treated as a
secured creditor. Pursuant to the third interim order, Cashfloit
will receive payment of $4,000 as protection. This payment entitles
JMKA to use the cash collateral of Cashfloit for four weeks.

The next hearing is set for Feb. 12.

Ameris Bank can be reached through its counsel:

     Jillian S. Cole, Esq.
     Taft Stettinius & Hollister, LLP
     111 E. Wacker Drive, Suite 2600
     Chicago, IL 60601
     (312) 836-4019
     jcole@taftlaw.com

                          About JMKA LLC

JMKA, LLC is a boutique childcare center in downtown Elmhurst, Ill.
It operates as Elmhurst Premier Childcare.

JMKA filed Chapter 11 petition (Bankr.  N.D. Ill. Case No.
25-00036) on January 3, 2025, with up to $50,000 in assets and up
to $10 million in liabilities.

Judge David D. Cleary oversees the case.

The Debtor is represented by:

    Ben L. Schneider, Esq.
    The Law Offices of Schneider & Stone
    8424 Skokie Blvd Suite 200
    Skokie, IL 60077
    Tel: (847) 933-0300
    Email: ben@windycitylawgroup.com


JOHN R. KEARNEY: U.S. Trustee Appoints Shireen Hart as PCO
----------------------------------------------------------
William Harrington, the U.S. Trustee for Region 2, asked the U.S.
Bankruptcy Court for the Northern District of New York to approve
the appointment of Shireen Hart as patient care ombudsman for John
R. Kearney M.D. Eye Physician and Surgeon P.C.

On January 07, 2024, John R. Kearney filed an amended petition to
indicate that it is a health care business as defined by Section
101(27A) of the Bankruptcy Code.

To the best of his knowledge, Ms. Hart has no connections with John
R. Kearney, creditors, any other parties in interest, their
respective attorneys and accountants, the U.S. Trustee, and persons
employed in the Office of the U.S. Trustee, except as set forth in
her verified statement.

In addition to all rights, duties, and obligations set forth in
Section 333 and Fed.R.Bankr.P 2015.1, the United States Trustee
requested that the Court grant the patient care ombudsman authority
to review confidential patient records as the ombudsman deems
necessary to perform his duties pursuant to Section 333 of the
Bankruptcy Code and that the order approving this appointment
expressly state that such authority to review confidential patient
records is subject to the requirement that the ombudsman protect
the confidentiality of such records consistent with the Health
Insurance Portability and Accountability Act ("HIPAA") and any
other applicable statute or regulation.

              About John R. Kearney M.D. Eye Physician
                         and Surgeon P.C.

John R. Kearney M.D. Eye Physician and Surgeon P.C. sought relief
under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D.N.Y. Case
No. 24-61035) on December 26, 2024. In its petition, the Debtor
reports estimated assets between $50,000 and $100,000 and estimated
liabilities between $500,000 and $1 million.

Honorable Bankruptcy Judge Patrick G. Radel handles the case.

The Debtor is represented by:

     Maxsen D. Champion, Esq.
     8578 East Genesee Street
     Fayetteville, NY 13066
     Phone: 315-664-2550
     Email: max2040@live.com


JUMPSTAR ENTERPRISES: Hires Kean Miller LLP as Counsel
------------------------------------------------------
JumpStar Enterprises LLC seeks approval from the U.S. Bankruptcy
Court for the Southern District of Texas to employ Kean Miller LLP
as counsel.

The firm will provide these services:

   a. render legal advice with respect to the Debtor's powers and
duties in the continued operation of the Debtor's business as a
debtor-in-possession;

   b. take all necessary action to protect and preserve the
Debtor's bankruptcy estate;

   c. prepare all necessary schedules, statements, motions,
answers, orders, reports, and other legal papers in connection with
the administration of the Debtor's bankruptcy estate;

   d. assist in preparing and filing a plan of reorganization; and

   e. perform any and all other legal services reasonably necessary
or otherwise requested by the Debtor in connection with the
Bankruptcy Case and the formation and implementation of a Chapter
11 plan.

The firm will be paid at these rates:

     Lloyd A. Lim, Esq.              $650 per hour
     Rachel Thompson Kubanda, Esq.   $550 per hour
     Michelle V. Friery, Esq.        $400 per hour
     Attorneys                       $230 to $520 per hour
     Paraprofessionals               $140 to $220 per hour

The Debtor paid the firm an initial retainer of $10,000.

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

The firm can be reached through:

     Lloyd A. Lim, Esq.
     Rachel Thompson Kubanda, Esq.
     Michelle V. Friery, Esq.
     Kean Miller LLP
     711 Louisiana Street,
     Suite 1800 South Tower
     Houston, TX 77002
     Tel: (713) 362-2550
     Email: Lloyd.Lim@KeanMiller.com
            Rachel.Kubanda@KeanMiller.com
            Michelle.Friery@KeanMiller.com

              About JumpStar Enterprises LLC

Jumpstar Enterprises, LLC filed Chapter 11 petition (Bankr. S.D.
Texas Case No. 24-35874) on December 16, 2024, with up to $50,000
in assets and up to $1 million in liabilities. Drew McManigle
serves as Subchapter V trustee.

Judge Jeffrey P. Norman oversees the case.

The Debtor is represented by Lloyd A. Lim, Esq., at Kean Miller,
LLP.


K & M AMUSEMENT: Claims to be Paid From Asset Sale Proceeds
-----------------------------------------------------------
K & M Amusement Center, LLC, d/b/a MVP Family Fun Center, filed
with the U.S. Bankruptcy Court for the District of Massachusetts a
Chapter 11 Plan for Small Business under Subchapter V dated January
21, 2025.

The Debtor is a Massachusetts limited liability company, formed in
February 2018, doing business in Tewksbury, Mass. The Debtor
operates a single location arcade and family fun center located on
Main Street in Tewksbury, Mass.

Signs, logos, and advertising identify the business as "MVP Family
Fun Center," and it is by this name that it is known in the local
community. The business consists of a 4,800 square foot building
housing arcade and video games, an area for playing laser tag, and
a snack bar/restaurant. The LLC is 99% owned by Angelica Morales,
who serves as the manager of the LLC and is in charge of the
day-to-day operation of the business.

The debtor's principal asset is the real estate parcel located at
2087 Main Street in Tewksbury, Massachusetts from which it operates
its arcade and amusement business. The business operates from a
4,800 square foot building housing an arcade, snack bar and
function rooms. There is an outdoor miniature golf course, ropes
course, and a large parking lot with a digital advertising sign
located near the roadway. The property was valued at $3,400,000.00
on the debtor's Schedule A/B filed in this case, and is presently
listed for sale with a real estate broker for $3,000,000.00
including both land and business.

This Plan is a sale plan, the Debtor intends to sell its business
as a going-concern and to distribute the sale proceeds in
accordance with the provisions of the Bankruptcy Code.

The Debtor's Plan is to sell its business and its real estate, or
both together. The Debtor will market its arcade business as a
going-concern and use the Net Sale Proceeds to pay creditors in
accordance with the priorities of the Bankruptcy Code. Any
remaining funds will be contributed to the Plan. The Debtor
anticipates that the Net Sale Proceeds from a sale of either the
real estate alone, or the entire business as a going concern will
result in payment of all Administrative Claims, Priority Tax
Claims, and will provide a distribution to General Unsecured
Creditors. In the event that all General Unsecured Creditors with
allowed claims are paid a 100% dividend and all expenses of the
case are paid in full, excess funds will be retained by the
debtor.

Class 3, General Unsecured Claims, includes at this time the
Internal Revenue Service and the Massachusetts Department of
Revenue. The Debtor expects that additional unsecured claims will
be filed before the Claims Bar Date. Allowed unsecured claims by
these creditors will be paid on a pro rata basis in the amount
stated on their proof of claim form, on the Effective Date of the
Plan, to the extent that funds are available after payments are
made to Class 1 and Class 2. These creditors will not receive any
regular, interim, or special payments until a distribution from the
sale of the Debtor's assets is made. This class is impaired and
entitled to vote on the Plan.

Class 4, Equity Interests, includes the members of the LLC holding
equity interests in the corporation. On the Effective Date, each
holder shall retain their Interests in the Debtor in the same
proportions that existed on the Petition Date. Members of this
class do not vote on the Plan.

The Plan will be funded from a sale of substantially all of the
Debtor's Assets, including but not limited to the real property
located and known as 2087 Main Street, Tewksbury, Massachusetts,
with all buildings and structures thereon, and with all contents
and equipment thereon that are owned by the Debtor.

Upon the Debtor's acceptance of an offer for the Assets being sold,
in exercise of its sound business judgment, the Debtor shall file a
motion to sell substantially all of the Debtor's Assets free and
clear of all liens, claims, interests, and encumbrances, subject to
higher and better offers. Any sale will be subject to approval of
the Bankruptcy Court.

A full-text copy of the Subchapter V Plan dated January 21, 2025 is
available at https://urlcurt.com/u?l=7qdAhq from PacerMonitor.com
at no charge.

Counsel to the Debtor:

     Douglas J. Beaton, Esq.
     Beaton Law Firm
     800 Turnpike Street, Suite 300
     North Andover, MA 01845,
     Tel: (978) 975-2608

                 About K & M Amusement Center

K & M Amusement Center, LLC, owns and operates an amusement park in
Tewksbury, Mass.

K & M Amusement Center sought protection under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. D. Mass. Case No. 24-41064) on Oct.
22, 2024, with $1 million to $10 million in both assets and
liabilities.  Angelica Morales, manager, signed the petition.

Judge Elizabeth D. Katz oversees the case.

Douglas Beaton, Esq., at Beaton Law Firm, is the Debtor as
bankruptcy counsel.


KAH HOSPICE: S&P Rates New $2.136BB First-Lien Term Loan B 'B'
--------------------------------------------------------------
S&P Global Ratings assigned its 'B' issue-level rating and '3'
recovery rating to the proposed $2.136 billion first-lien term loan
B due 2028 issued by KAH Hospice Co. Inc.'s (doing business as
Gentiva) subsidiary Charlotte Buyer Inc. The '3' recovery rating
indicates its expectation for meaningful (50%-70%; rounded
estimate: 55%) recovery in the event of default. The transaction is
essentially a repricing of the company's existing $2.1 billion term
loan B. All our existing ratings on KAH are unchanged.

S&P said, "We expect the transaction will be leverage neutral
because it will not affect the company's total debt outstanding.
The company recently paid down part of its second-lien term loan
and revolver balance with the proceeds from the $350 million sale
of its personal care business to Addus HomeCare.

"Our 'B' issuer credit rating and stable outlook on Gentiva reflect
our expectation that its decent scale and strong referral sources
will enable it to generate strong cash flow and maintain stable
margins, despite facing headwinds surrounding the integration of
Heartland."

ISSUE RATINGS--RECOVERY ANALYSIS

Key analytical factors:

-- Gentiva's capital structure comprises a $405 million revolver
due 2027, a $2.1 billion first-lien term loan due 2028, and a $250
million second-lien term loan due 2028.

-- S&P's simulated default scenario contemplates a default
occurring in 2028 because Gentiva is unable able to meet its fixed
charges, likely due to a combination of factors--including a
decline or adverse change in its reimbursement rates or
volumes--that lead to a material drop in its profitability.

-- S&P assumes that in a hypothetical bankruptcy scenario,
Gentiva's $405 million revolving credit facility would be 85%
drawn.

-- Given its market position and the continued demand for its
services, S&P believes the company would remain a viable business.
Therefore, it expects Gentiva would reorganize rather than
liquidate following a payment default.

-- S&P's recovery analysis assumes a reorganization value of about
$1.501 billion, which reflects emergence EBITDA of about $273
million and a 5.5x multiple.

Simulated default assumptions:

-- EBITDA at emergence: $273 million
-- EBITDA multiple: 5.5x
-- Default year: 2028
Simplified waterfall:

-- Gross recovery value: $1.501 billion

-- Net recovery value (after 5% administrative costs): $1.426
billion

-- Valuation split (obligors/nonobligors): 100%/0%

-- Value available to first-lien debt claims: $1.426 billion

-- Secured first-lien debt claims: $2.494 billion

    --Recovery expectations: 50%-70% (rounded estimate: 55%)

-- Senior unsecured debt/pari passu unsecured claims: $263
million

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

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



KAL FREIGHT: Intends to File Chapter 11 Plan in February
--------------------------------------------------------
Clara Geoghegan of Law360 Bankruptcy Authority reports that KAL
Freight Inc. is set to file a Chapter 11 plan in February, which
could either involve selling the business or pursuing a different
form of reorganization, according to the trucking group's
attorneys, who shared this update with a Texas bankruptcy judge on
January 29.

                    About Kal Freight

Established in 2014, Kal Freight Inc. is a trucking company that
offers a complete range of transportation and logistics services to
diverse industries across the United States. It has strategic
locations across the United States with extended distribution
warehouses and terminals in Fontana, Calif., Texas, New Jersey,
Indiana, Tennessee, Georgia, Arizona and Arkansas.

Kal Freight and its affiliates filed Chapter 11 petitions (Bankr.
S.D. Tex. Case No. 24-90614) on December 5, 2024, with $100 million
to $500 million in both assets and liabilities.

Judge Christopher M. Lopez oversees the case.

The Debtors tapped Pachulski Stang Ziehl & Jones, LLP as legal
counsel; Development Specialists, Inc. as interim management
services provider; and Benesch, Friedlander, Coplan & Aronoff LLP
as special transportation counsel. Stretto, Inc. is the Debtors'
claims and noticing agent.


LABRUZZO COMMERCIAL: Files Amendment to Disclosure Statement
------------------------------------------------------------
LaBruzzo Commercial Properties, LLC, submitted an Amended
Disclosure Statement to accompany First Amended Plan.

The Debtor initiated this Chapter 11 case after becoming
financially distressed due to delinquent property taxes and paying
a loan for 996 South Main Street, which became vacant during the
COVID-10 pandemic due to closures of the daycare occupying the
building.

The Plan is to be implemented by the reorganized Debtor through:

     * The sale of 996 South Main Street, which has been completed

     * Renting the office space at 292 Pine Street at $900.00 per
month starting on March 1, 2025

     * Construction of the duplex at 207 Willow Street and 1145
Water Street, which will be completed by September 2025, and which
will be leased at $950.00 per unit.

Class 6 General Unsecured Claim of United States of America o/b/o
Small Business Administration. The claim of United States of
America o/b/o Small Business Administration is to be paid outside
the plan by third parties Joe Labruzzo and Charlotte Labruzzo
according to terms being negotiated by the parties, with a revised
claim to be filed.

There is only one unsecured creditor, which is the Small Business
Administration, and its claim will be paid in full in accordance
with terms currently being negotiated.

Source of funds for plan payments will be derived from Debtor's
Income.

A full-text copy of the Amended Disclosure Statement dated January
22, 2025 is available at https://urlcurt.com/u?l=tEXZ9C from
PacerMonitor.com at no charge.

Counsel to the Debtor:

     Brian C. Thompson, Esq.
     Thompson Law Group, PC
     125 Warrendale Bayne Road, Suite 200
     Warrendale, PA 15086
     Telephone: (724) 799-8404
     Facsimile: (724) 799-8409
     Email: bthompson@thompsonattorney.com

                   About LaBruzzo Woodlands

LaBruzzo Woodlands, LLC, is engaged in activities related to real
estate. The Debtor offers duplexes, tri-plexes apartments, and
houses as well as commercial spaces.

The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. W.D. Penn. Case No. 23-10389) on July 27,
2023. In the petition signed by Joseph LaBruzzo, president, the
Debtor disclosed up to $50,000 in assets and up to $10 million in
liabilities.

Judge John C. Melaragno oversees the case.

Brian C. Thompson, Esq., at Thompson Law Group, P.C., is the
Debtor's legal counsel.


LABRUZZO WOODLANDS: Files Amendment to Disclosure Statement
-----------------------------------------------------------
LaBruzzo Woodlands, LLC, submitted an Amended Disclosure Statement
to accompany First Amended Plan.

The Plan is to be implemented by the reorganized Debtor through
future income based on projected growth of revenue from rentals of
8% annually.

Class 5 consists of the General Unsecured Non-Tax Claim of the
Small Business Administration. The claim of Small Business
Administration (POC 1) in the amount of $252,371.01, secured
against the business property, will be paid according to terms
being negotiated by the parties, and to be paid exclusively by the
third parties Joseph LaBruzzo & Charlotte LaBruzzo, directly and
not contemplated as part of this proposed plan.

Class 6 consists of the Unsecured Claim of Department of
Environmental Protection. The claim of Department of Environmental
Protection is disputed by Debtor and is currently the subject of
litigation. Upon conclusion of this litigation, the claim of
Department of Environmental Protection, if any is allowed, shall be
paid over 5 years at 0% interest.

Source of funds for plan payments will be derived from Debtor's
Income.

A full-text copy of the Amended Disclosure Statement dated January
22, 2025 is available at https://urlcurt.com/u?l=lyNVwG from
PacerMonitor.com at no charge.

Counsel to the Debtor:

     Brian C. Thompson, Esq.
     Thompson Law Group, PC
     125 Warrendale Bayne Road, Suite 200
     Warrendale, PA 15086
     Telephone: (724) 799-8404
     Facsimile: (724) 799-8409
     Email: bthompson@thompsonattorney.com

                   About LaBruzzo Woodlands

LaBruzzo Woodlands, LLC, is engaged in activities related to real
estate. The Debtor offers duplexes, tri-plexes apartments, and
houses as well as commercial spaces.

The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. W.D. Penn. Case No. 23-10389) on July 27,
2023. In the petition signed by Joseph LaBruzzo, president, the
Debtor disclosed up to $50,000 in assets and up to $10 million in
liabilities.

Judge John C. Melaragno oversees the case.

Brian C. Thompson, Esq., at Thompson Law Group, P.C., is the
Debtor's legal counsel.


LEITMOTIF SERVICES: Seeks to Use Cash Collateral
------------------------------------------------
Leitmotif Services LLC asked the U.S. Bankruptcy Court for the
Southern District of Florida, Miami Division, for authority to use
cash collateral.

Through the Debtor's case, it has evaluated potential claimants
seeking security interests in its cash. On October 30, 2024, the
Debtor filed its emergency motion for use of cash collateral
identifying Global Merchant Cash, Inc., Kickpay, Ouiby, Inc.,
Kalamata Capital Group, WebBank, and Shopify.com as potential
claimants with respect to security interests in the cash
collateral. Of these potential creditors, Global Merchant Cash,
Inc., Kickpay, Ouiby, Inc., WebBank, and Shopify.com either did not
file a proof of claim or filed a proof of claim as an unsecured
creditor.

Only Kalamata filed claim purporting to be secured by collateral:
the Debtor's accounts receivable. On the Petition Date, the Debtor
did not have accounts receivable. The Debtor's position is that
Kalamata is a wholly under- or unsecured creditor.

The adequate protection to be provided to the Alleged Secured
Creditor includes: i) replacement liens on the Debtor’s future
accounts receivable and future proceeds thereof to the same extent
validity and priority that existed on the Petition Date, if any.

A hearing is scheduled for Feb. 5.

              About Leitmotif Services

Leitmotif Services, LLC is a retailer of a wide selection of
electric scooters. It is based in Miami, Fla., with a self-operated
service center in Brooklyn, N.Y., and an expanding network of
service partners.

Leitmotif Services sought relief under Subchapter V of Chapter 11
of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 24-21215) on
October 28, 2024, with total assets of $1,410,835 and total
liabilities of $2,584,500. Carol Fox of GlassRatner serves as
Subchapter V trustee.

Judge Laurel M. Isicoff handles the case.

The Debtor is represented by Brett Lieberman, Esq., at Edelboim
Lieberman, PLLC.


LEROUX CREEK: Plan Exclusivity Period Extended to April 2
---------------------------------------------------------
Judge Michael E. Romero of the U.S. Bankruptcy Court for the
District of Colorado extended Leroux Creek Food Corporation and
Edward Stuart Tuft's exclusive period to file their initial Plan of
Reorganization to April 2, 2025.

As shared by Troubled Company Reporter, the Debtors commenced their
Chapter 11 bankruptcy proceeding due to environmental issues that
impacted Leroux's profitability and litigation with its largest
secured creditor American AGCredit, FLCA and American AGCredit,
PCA, which caused financial and cash flow problems.

Since the Petition Date, as anticipated, orchard growth and
production has begun to increase and Debtors have been in
discussions with AGCredit to reach a resolution. At this time, such
negotiations are still ongoing.

The Debtors claim that they require additional time to experience
the stabilization and improvement of operations, to formulate
meaningful projections of future performance, as well as to
continue to meet and discuss with AgCredit and negotiate Plan of
Reorganization.

Counsel to the Debtors:

     Jeffrey A. Weinman, Esq.
     Katharine S. Sender, Esq.
     Bailey C. Pompea, Esq.
     Allen Vellone Wolf Helfrich & Factor P.C.
     1600 Stout Street, Suite 1900
     Denver, CO 80202
     Phone: (303) 534-4499
     Email: JWeinman@allen-vellone.com
            KSender@allen-vellone.com
            BPompea@allen-vellone.com

              About Leroux Creek Food Corporation

Leroux Creek Food Corporation, LLC, filed its voluntary petition
for relief under Chapter 11 of the Bankruptcy Code (Bankr. D. Colo.
Case No. 24-15015) on August 27, 2024, listing $1 million to $10
million in both assets and liabilities.  The petition was signed by
Edward Tuft as president.

Judge Michael E Romero presides over the case.

Jeffrey A. Weinman, Esq. at ALLEN VELLONE WOLF HELFRICH & FACTOR,
P.C., is the Debtor's counsel.


LEXARIA BIOSCIENCE: Registers $50M Securities for Possible Offering
-------------------------------------------------------------------
Lexaria Bioscience Corp. filed a preliminary prospectus on Form S-3
with the U.S. Securities and Exchange Commission, disclosing that
from time to time, it may offer and sell up to $50,000,000 in
aggregate of securities such as Common Stock, Warrants, Rights, and
Units, separately or together in any combination, in one or more
classes or series, in amounts, at prices and on terms that the
Company will determine at the time of the offering.

The prospectus provides a general description of the securities
Company may offer. According to the Company, it may provide
specific terms of securities to be offered in one or more
supplements to this prospectus and may also provide a specific plan
of distribution for any securities to be offered in a prospectus
supplement. Prospectus supplements may also add, update or change
information in this prospectus.

"Our common stock and public warrants are listed on the Nasdaq
Capital Market under the symbols "LEXX" and "LEXXW", respectively.
The last reported sale prices of our common stock and public
warrants on the Nasdaq Capital Market on January 21, 2025 were
$1.94 per share and $0.60 per public warrant, respectively. The
aggregate market value of our outstanding common stock held by
non-affiliates is approximately $32,538,565 based on 17,552,594
shares of outstanding common stock, of which 780,138 shares are
held by affiliates, and a per share price of $1.94 which was the
closing sale price of our common stock as quoted on the Nasdaq
Capital Market on January 21, 2025. During the 12 calendar month
period that ends on, and includes, the date of this prospectus, we
have sold $3,617,059 of our securities pursuant to General
Instruction I.B.6 of Form S-3."

The Company may be reached at:

     Richard Christopher
     Chief Executive Officer
     Lexaria Bioscience Corp.
     #100 - 740 McCurdy Road
     Kelowna, British Columbia V1X 2P7
     Tel: 1-250-765-6424

A full-text copy of the Report is available at:

                  https://tinyurl.com/yr7hd7jx

                           About Lexaria

Headquartered in Kelowna, BC, Canada, Lexaria Bioscience Corp. --
http://www.lexariabioscience.com/-- is a biotechnology company
developing the enhancement of the bioavailability of a broad range
of fat-soluble active molecules and active pharmaceutical
ingredients using its patented DehydraTECHâ„¢ drug
delivery technology. DehydraTECH combines lipophilic molecules or
APIs with specific long-chain fatty acids and carrier compounds
that improve the way they enter the bloodstream, increasing their
effectiveness and allowing for lower overall dosing while promoting
healthier oral ingestion methods.

Lexaria reported a net loss of $6.71 million for the year ended
Aug. 31, 2023, compared to a net loss of $7.38 million for the year
ended Aug. 31, 2022. As of May 31, 2024, Lexaria Bioscience had
$10.02 million in total assets, $271,375 in total liabilities, and
$9.75 million in total stockholders' equity.

                             Going Concern

The continuation of Lexaria as a going concern depends on raising
additional capital and/or attaining and maintaining profitable
operations. The recurring losses from operations and net capital
deficiency may raise substantial doubt about the Company's ability
to continue as a going concern within one year following the date
that these consolidated financial statements are issued, Lexaria
said in its Quarterly Report for the period ended May 31, 2024.


LIDO 10: Seeks Cash Collateral Access
-------------------------------------
Lido 10, LLC asked the U.S. Bankruptcy Court for the Central
District of California, Santa Ana Division, for authority to use
cash collateral.

The company owns and operates (a) a 2-unit duplex located at 620
Clubhouse Dr., Newport Beach, Calif.; (b) a 4-unit fourplex located
at 622-624 Clubhouse Dr., Newport Beach, Calif.; and (c) a 4-unit
fourplex located at 626 Clubhouse Dr., Newport Beach, Calif. It
intends to renovate the properties and build four additional
accessory dwelling units, all with the ultimate aim of increasing
rents on the existing units and adding additional income streams
via the addition of new units.

A. 620 Clubhouse

     1. U.S. Bank Trust National Association, not in its individual
capacity but solely as owner trustee for RCAF Acquisition Trust
currently holds the first deed of trust on 620 Clubhouse in the
amount of approximately $1.8 million.

     2. The second deed of trust on 620 Clubhouse is held by
Allstate Lending Group, Inc. in the amount of approximately
$600,000.

     3. The third deed of trust on 620 Clubhouse is held by William
Bohrk and Anne Marie Bohrk in the approximate amount of $17,286.

B. 622 Clubhouse

     1. U.S. Bank holds the first deed of trust on 622 Clubhouse in
the approximate amount of $3.1 million.
     
     2. The second deed of trust on 622 Clubhouse is held by
Allstate in the approximate amount of $700,000.

     3. The third deed of trust on 622 Clubhouse is held by Bohrk
in the approximate amount of $29,986.

C. 626 Clubhouse

     1. U.S. Bank holds the first deed of trust on 626 Clubhouse in
the approximate amount of $5.674 million.

     2. The second deed of trust on 626 Clubhouse is held by
Allstate in the approximate amount of $700,000.

     3. The third deed of trust on 626 Clubhouse is held by Bohrk
in the approximate amount of $52,728.

Lido 10 requires the use cash collateral to pay ordinary and
necessary operating expenses for the properties. Specifically, but
without limitation, property taxes are due in the amount of $7,586
for 620 Clubhouse, $13,396 for 622 Clubhouse, and $25,171 for 626
Clubhouse.

The company believes that the properties have an equity cushion.

Lido 10 will also give to the purported secured creditors a
replacement lien to the extent that such creditors' cash collateral
is actually used. The company will segregate in its cash collateral
DIP bank account all revenue exceeding the funds needed to pay the
expenses set forth in the Budget.

The company believes that conservation of cash is paramount in this
Bankruptcy Case, as it is seeking to pay all secured creditors in
full via a refinance and sale of the Properties.

A hearing on the matter is set for Feb. 12.

                        About Lido 10 LLC

Lido 10, LLC, a company based in Newport Beach, Calif., filed
Chapter 11 petition (Bankr. C.D. Calif. Case No. 24-11818) on July
19, 2024, with $10 million to $50 million in both assets and
liabilities.

Judge Theodor Albert oversees the case.

Matthew D. Resnik, Esq., at RHM Law, LLP serves as the Debtor's
bankruptcy counsel.


LISBON CONCRETE: Hires Bradford Law Offices as Legal Counsel
------------------------------------------------------------
Lisbon Concrete Corporation seeks approval from the U.S. Bankruptcy
Court for the Eastern District of North Carolina to employ Bradford
Law Offices to handle its Chapter 11 case.

The firm's hourly rates are:

     Attorney        $575
     Paralegal       $175

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

The firm will be paid a retainer of $25,400.

Danny Bradford, a member at Bradford Law Offices, disclosed in a
court filing that the firm is a "disinterested person" as the term
is defined in Section 101(14) of the Bankruptcy Code.

The firm can be reached through:

     Danny Bradford, Esq.
     Bradford Law Offices
     455 Swiftside Drive, #106
     Cary, NC 27518
     Tel: (919) 758-8879
     Email: Dbradford@bradford-law.com

              About Lisbon Concrete Corporation

Lisbon Concrete Corporation, filed a Chapter 11 bankruptcy petition
(Bankr. E.D.N.C. Case No. 25-00173) on Jan. 16, 2025, disclosing
under $1 million in both assets and liabilities. The Debtor is
represented by PAUL D. BRADFORD, PLLC.


LODGING ENTERPRISES: Plan Exclusivity Period Extended to March 24
-----------------------------------------------------------------
Judge L. Somers of the U.S. Bankruptcy Court for the District of
Kansas extended Lodging Enterprises, LLC's exclusive periods to
file a plan of reorganization and obtain acceptance thereof to
March 24 and May 23, 2025, respectively.

As shared by Troubled Company Reporter, the Debtor explains that it
has shown good faith progress towards a successful conclusion to
this case. Among other things, Debtor has made progress with
respect to a term sheet and a loan modification agreement with
prepetition lender, which could result in a consensual resolution
of the bankruptcy case in which all valid claimants retain their
rights. Thus, Debtor is not engaging in any delay, let alone
unreasonable delay.

Further, Debtor has addressed and, to some extent, continues to
address various issues. The Debtor has successfully engaged with
its major creditor constituencies in establishing a firm basis for
post-petition business operations through consensual budgets and
corresponding authorization for the use of cash collateral. In
particular, Debtor recently negotiated a fourth consensual order
for ongoing use of cash collateral and continues to pay its post
petition obligations.

The Debtor contends that the relief requested herein is in the best
interests of the estate and its creditors as it would promote the
prospects for a successful conclusion of this case. Absent a
material change of circumstances in this case, Debtor expects that
this will be the last request to extend the exclusivity periods as
it continues its efforts to maximize value for all of its
stakeholders and reach a successful conclusion to this Chapter 11
proceeding. Good cause exists to grant this Motion.

Lodging Enterprises, LLC is represented by:       

                  Jonathan Margolies, Esq.
                  SEIGFREID & BINGHAM, P.C.
                  2323 Grand Boulevard Suite 1000
                  Kansas City, MO 64108
                  Tel: (816) 265-4195
                  Fax: (816) 474-3447
                  Email: jmargolies@sb-kc.com

                     - AND -
                           
                  Timothy A. ("Tad") Davidson II, Esq.
                  Brandon Bell, Esq.
                  Kaleb Bailey, Esq.
                  HUNTON ANDREWS KURTH LLP
                  600 Travis Street, Suite 4200
                  Houston, TX 77002
                  Phone: (713) 220-4200
                  Email: taddavidson@HuntonAK.com
                         bbell@HuntonAK.com
                         kbailey@HuntonAK.com

                    - AND -

                  Jason W. Harbour, Esq.
                  HUNTON ANDREWS KURTH LLP
                  Riverfront Plaza, East Tower
                  951 East Byrd Street
                  Richmond, Virginia 23219
                  Phone: (804) 788-8200
                  Email: jharbour@HuntonAK.com

                  About Lodging Enterprises

Founded in 1984, Lodging Enterprises, LLC, a company in Wichita,
Kansas, offers a full suite of crew accommodations, specializing in
24-hour food, lodging and hospitality services. A large segment of
the company's clientele are composed of railroad, and other
transportation-industry workers for whom it is essential that
lodging is available. The company owns and operates 44
Wyndham-branded hotels and 27 restaurants located in 23 states
across the country.

Lodging Enterprises filed a Chapter 11 petition (Bankr. D. Kan.
Case No. 24-40423) on June 26, 2024, with $100 million to $500
million in both assets and liabilities.

Jonathan Margolies, Esq., at SEIGFREID & BINGHAM, P.C., is the
Debtor's counsel.


LOUISVILLE LUSH: Files Emergency Motion to Sell Business Assets
---------------------------------------------------------------
Louisville Lush Aesthetics, LLC, seeks approval from the U.S.
Bankruptcy Court for the Western District of Kentucky, Louisville
Division, to sell substantially all of its assets and wind down its
Chapter 11 case within the next 30 to 6 days.

The Debtor's principal business consists of providing medical
aesthetics and related services.

The Court has confirmed the Debtor's Third Amended Plan of
Reorganization.

Since the entry of the Confirmation Order, the Debtor's sole
member, Jana Brewer, has continued to operate the business on a
full-time basis, but the Debtor has struggled to make timely
payments in accordance with the terms of the Plan.  However, the
Debtor has an opportunity to sell its assets to Well Labs Plus,
LLC, close the transaction in the next 30 days, and pay all of its
secured claims and pay unsecured claims what they would be paid
over the course of the Debtor's confirmed 36-month plan.

The Debtor's current struggles to comply with the Plan and the
opportunity to pay its creditors in lump sum payments within the
next 30 days by selling its assets, the Debtor believes selling its
assets is in the best interests of the Debtor's creditors.

The Debtor is prepared to file an emergency motion for authority to
sell substantially all its assets with the goal of closing the sale
transaction on or before February 28, 2025.

             About Louisville Lush Aesthetics, LLC

Louisville Lush Aesthetics, LLC, operates a boutique medspa in
Louisville, Kentucky.

The Debtor filed a Chapter 11 petition (Bankr. W.D. Ky. Case No.
23-32060) on Sept. 1, 2023, with up to $1 million in both assets
and liabilities.

Judge Charles R. Merrill oversees the case.

Michael W. McClain, Esq., at Goldberg Simpson, LLC, is the Debtor's
legal counsel.


M.P. PRODUCTIONS: Files Emergency Bid to Use Cash Collateral
------------------------------------------------------------
M.P. Production, LLC asked the U.S. Bankruptcy Court for the
Eastern District of Arkansas, Central Division, for authority to
use cash collateral until April 11.

A need exists on an emergency basis for the Debtor to use cash
collateral for the continued operation of the business to pay
staffing expenses, operating expenses, maintenance expenses and
administrative expenses, and otherwise conduct its business
affairs.

First Horizon Bank, the U.S. Small Business Administration, and
Xtra Lease claim liens on the Debtor's personal property.

The Debtor can adequately protect the interests of the Secured
Lenders by providing the Secured Lenders with post-petition liens,
priority claims in the Chapter 11 bankruptcy case, and cash flow
payments.

The Debtor's ability to use this cash collateral will terminate
upon (i) the conversion of the Chapter 11 case to a Chapter 7; or
(ii) the confirmation of a plan of reorganization by an order that
becomes final and non-appealable unless use of the rents is
contemplated; or (iii) subsequent order of the Court.

First Horizon Bank can be reached through its counsel:

     Harry S. Hurst, Jr., Esq.
     Hurst Burnett, PLC
     P.O. Box 1149
     Jonesboro, AR 72403
     (870) 268-7602 phone
     (870) 268-7607 fax
     hhurst@hbfirm.net

                     About MP Productions LLC

MP Productions LLC is a Little Rock, Arkansas-based live event
production company that provides turnkey production and convention
services, specializing in corporate events, sales meetings, and
national conventions. Operating from its facility at 6700 Allied
Way in Little Rock, the company offers comprehensive event services
including pre-production planning, on-site production management,
and post-production services.

MP Productions sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. E.D. Ark. Case No. 25-10158) on January
17, 2025. In its petition, the Debtor reports total assets of
$490,000 and total liabilities of $2,716,467.

Honorable Bankruptcy Judge Bianca M. Rucker handles the case.

The Debtor is represented by Kevin P. Keech, Esq., at Keech Law
Firm, PA, in Amity, Arkansas.


MASTER FLOW: Hires Admin Consulting Company as Accountant
---------------------------------------------------------
Master Flow Technologies, LLC f/k/a MFT Resources, LLC seeks
approval from the U.S. Bankruptcy Court for the Western District of
Louisiana to employ Admin Consulting Company as accountant.

The firm will provide these services:

     a. assist the Debtor in the preparation and filing of the tax
returns; and

     b. assist in the analysis of various financial documents and
the handling of other accounting duties in this case;

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

Charles Klein a partner at Admin Consulting Company, disclosed in a
court filing that the firm is a "disinterested person" as the term
is defined in Section 101(14) of the Bankruptcy Code.

The firm can be reached at:

     Charles Klein
     Admin Consulting Company
     2045 Jefferson Ave.
     Dunedin, FL 34698
     Email: charles@adminconsultingco.com

              About Master Flow Technologies, LLC

Master Flow Technologies, LLC f/k/a MFT Resources, LLC, filed a
Chapter 11 bankruptcy petition (Bankr. W.D. La. Case No. 24-80523)
on August 27, 2024. The Debtor is represented by Thomas R. Willson,
Esq.


MCCLATCHIE PROPERTY: Gets Interim OK to Access Cash Collateral
--------------------------------------------------------------
McClatchie Property Management, LLC and McClatchie Tree, LLC
received interim approval from the U.S. Bankruptcy Court for the
Eastern District of Virginia, Richmon Division, to use the cash
collateral of secured creditors.

The companies require the use of cash or cash equivalents to pay
their operating expenses.

As protection for the use of their cash collateral, Ascentium
Capital, On Deck Capital, Inc., Sheffield Financial, and Financial
Pacific Leasing, Inc. will receive monthly payments of $1,438.60,
$795.38, $269.74, and $209.80, respectively.

In addition, the secured creditors were granted replacement liens
on all property currently owned or to be acquired by the companies,
to the same extent and with the same priority and validity as their
pre-bankruptcy liens.

Both McClatchie Management and McClatchie Tree have faced financial
challenges, including reduced revenue from the COVID-19 pandemic,
rising equipment costs, and reliance on high-interest loans. After
exhausting other options, both companies filed for SubChapter V
bankruptcy protection to reorganize their debts and operations.

A final hearing is set for Feb. 26.

                         About McClatchie

McClatchie Property Management, LLC provides janitorial services to
various businesses, including hospitals and churches.

McClatchie Property Management and McClatchie Tree, LLC filed
Chapter 11 petitions (Bankr. E.D. Va. Case Nos. 25-30237 and
25-30240) on January 22, 2025. At the time of the filing,
McClatchie Property Management reported $100,001 to $500,000 in
both assets and liabilities while McClatchie Tree reported up to
$50,000 in assets and $50,001 to $100,000 in liabilities.

Lynn L. Tavenne, Esq., at Tavenner & Beran, PLC, represents the
Debtors as legal counsel.


MDM RESTORATION: Claims to be Paid From Income
----------------------------------------------
MDM Restoration, Inc., filed with the U.S. Bankruptcy Court for the
Eastern District of Virginia a Plan of Reorganization under
Subchapter V dated January 21, 2025.

The Debtor is a Corporation organized and chartered in with its
principal place of business in Loudoun County, Virginia. It is
owned and managed by Roberto Fuentes, who is the designee in this
case.

The Debtor holds a Class A contracting license from the
Commonwealth of Virginia, and operates a construction and
restoration contracting business which does medium-sized jobs on
residential and commercial properties, often repairing damages
related to insurance claims. While the Debtor's trade was affected
by the pandemic, it is now returning to its pre-pandemic level.

The Debtor, working through its accountant, has filed all tax
returns due. The Debtor has also made several changes to its
operations which will increase its net cash flow and make
performance of the plan feasible. These changes include being more
selective in the type of work it undertakes, and cutting overhead.

The Debtor anticipates that it will be able to make all of the
payments provided for both inside and outside this Plan, as well as
cover its normal operating expenses from its net surplus over the
Plan term. The Debtor further submits that it is devoting all of
its net surplus during the prosed term to the payments provided for
under this Plan.

The Debtor's Plan proposes monthly payments over thirty-six months
totaling $306,565.20. It is estimated that after payment of all
secured and administrative claims provided for inside the Plan,
there will be a distribution to unsecured creditors in the amount
of $183,265.00 which amounts a payment of 17% of their claims.

These calculations, and the projected percentage of distribution to
unsecured creditors, are based on what is known to the Debtor at
the time this Plan is filed, and should be considered as a good
faith estimate. Future events, unforseen or unknown, including
administrative expenses beyond what are presently provided for,
could unfavorably affect the percentage of distribution to
unsecured creditors.

Class 6 includes all remaining unsecured claims without priority
and totals $1,063,905.31. These claimants will receive a pro rata
distribution (without interest) over thirty-six months from the
monthly Plan payments not needed to pay the claims of Classes 1 and
3.

The Debtor anticipates, but cannot guarantee, that based on the
best information available to it at the time this Plan is filed,
that the Class 5 creditors will receive a distribution of not less
than approximately 17% of their claims.

Class 7 includes the Debtor's equity security holder, Roberto
Fuentes. The claimant in this class shall retain their equity
security interest, but shall receive no other distribution under
the Plan.

The term of the Plan shall be thirty-six consecutive months from
the month following the effective date of the Plan. It is
anticipated that the debtor's income shall be sufficient to make
all payments required.

A full-text copy of the Plan of Reorganization dated January 21,
2025 is available at https://urlcurt.com/u?l=8uyFis from
PacerMonitor.com at no charge.

Counsel for the Debtor:

     Richard G. Hall, Esq.
     RICHARD HALL
     601 King Street
     Suite 301
     Alexandria, VA 22314
     Tel: (703) 256-7159
     E-mail: richard.hall33@verizon.net

                    About MDM Restoration

MDM Restoration, Inc., helps those who need disaster recovery and
building restoration services, whether with fire damage and smoke
removal or storm and wind damage.

MDM Restoration sought relief under Subchapter V of Chapter 11 of
the U.S. Bankruptcy Code (Bankr. E.D. Va. Case No. 24-11984) on
Oct. 25, 2024, with total assets of $72,179 and total liabilities
of $1,075,612. Roberto Antonio Fuenttes Ventura, director and
owner, signed the petition.

The Debtor is represented by Richard G. Hall, Esq.


MEDICAL PROPERTIES: S&P Assigns Prelim 'B-' Rating on Sec. Notes
----------------------------------------------------------------
S&P Global Ratings assigned its preliminary 'B-' issue-level rating
and '2' recovery rating to Medical Properties Trust Inc.'s $2
billion senior secured notes due 2032 and EUR500 million senior
secured notes due 2032. The notes will be issued through Medical
Properties Trust's subsidiaries, MPT Operating Partnership L.P. and
MPT Finance Corp. The '2' recovery rating indicates S&P's
expectation for substantial (70%-90%) recovery for the senior
secured noteholders in the event of a payment default. S&P expects
the company to use most of the proceeds from the issuance to repay
debt, including upcoming unsecured note maturities.

S&P said, "The preliminary ratings reflect our view of the
transaction's strong collateral and legal structure, among other
factors. The preliminary ratings are based on information as of
Jan. 29, 2025, including the size and tenor of the offering. Upon
the successful execution of the transaction and our review of the
final terms, we will assign final ratings to the senior secured
notes. In addition, we would likely affirm the ratings following
the close of the proposed transaction. Subsequent information that
materially deviates from our expectations may lead us to assign
final ratings that differ from the preliminary ratings."



MEXICAN MANUFACTURERS: Updates Unsecured Claims Pay; Amends Plan
----------------------------------------------------------------
Mexican Manufacturers, Inc., submitted a First Amended Disclosure
Statement describing First Amended Plan of Reorganization.

MMI is a manufacturer utilizing the maquiladora program on the US
border with Mexico, in this case, between El Paso, Texas and Cd.
Juarez, Mexico.

The Plan of Reorganization primarily provides for the full payment
of the ad valorem personal property tax claim of the City of El
Paso and the claim of John Martino secured by all the assets of
MMI, including accounts receivable in the U.S. and manufacturing
equipment in Cd. Juarez, Mexico. Both the City of El Paso and
Martino are to be treated as fully secured creditors and paid in
full but on an impaired basis.

There are additional secured creditors comprised of the prepetition
accounts receivable purchasers, i.e., "Merchant Lenders", who also
hold security interests in MMI's accounts receivable. However,
because their security interests are subordinate to Martino's, and
there is no equity in MMI's accounts receivable over the amount of
his claim with which to partially, much less fully secure them, the
Merchant Lenders are being paid as General Unsecured Creditors per
prior Order of the Bankruptcy Court establishing their unsecured
status.

MMI proposes to pay the General Unsecured Creditor Class comprised
of the Merchant Lenders and trade debt (logistic and transportation
services) 50% of their Allowed Claims with interest over an
84-month term. The General Unsecured Creditor Class is also
impaired.

MMI's sole shareholder, Marcos Guzman, will retain his equity in
the Debtor based on his post-petition contributions to MMI totaling
$112,000 which was used for postpetition business operations.

As described in this Disclosure Statement, MMI maintains
administrative and logistical offices in the US. It believes that
the Plan is feasible based on post-petition reduction in workforce
at its wholly-owned subsidiary in Mexico providing the
manufacturing services (200 + employees prepetition to currently
120 employees), acquisition of new customers, and additional
reductions to operating expenses.

Moreover, apart from the contributions made by Guzman to MMI, he
has also reduced his salary effective January 1, 2025 by 17%
($230,000 to $190,000) to enhance the Plan's feasibility. There are
uniquely-timed risk factors based on the potential of substantial
tariffs to be placed on goods manufactured in Mexico which would
impact MMI's profitability.

Class 4 consists of of General Unsecured Claims. There are multiple
types of Unsecured Claims because they arise from distinct events,
legal instruments, and Secured Creditors whose liens are valued at
$0.00 (Merchant Lenders). Based on Proofs of Claim filed to date
and its Schedules, MMI estimates that the total of the General
Unsecured Claims is $526,961.11.

Class 4 shall be paid 50% of the total General Unsecured Claims
($263,480.56) on a pro-rata basis over 84 months with interest at
5.25%. Monthly payments in the total amount of $3,755.32 (including
interest) will be made beginning on the Effective Date with like
payments to be on the 15th day of each succeeding month. All
payments will be shared prorata amongst the Class 4 creditors. MMI
will be the disbursing agent for Class 4.

If MMI fails to make payments to the Class 4 General Unsecured
Creditor(s), the affected creditor will provide a Notice of Default
to MMI directly or to its Counsel either by electronic mail
(email), or written correspondence via Regular U.S. Mail. Upon
receipt of the Notice of Default, MMI shall cure any default within
ten days. If the Default is not cured, then the affected creditor
may immediately pursue its state law collection remedies as a
General Unsecured Creditor for the full balance of its claim (minus
credit for payments received from MMI).

Class 5 consists of Equity Interest Holders. Equity interest
holder(s) are parties who hold an ownership interest (equity
interest) in MMI. In a corporation, those holding preferred or
common stock are equity interest holders. The only member of Class
5 is Guzman.

MMI's only equity holder is Guzman. He will retain his stock
ownership in MMI. He holds this equity interest as community
property, subject to his sole management under the Texas Family
Code. Moreover, Guzman has made contributions to MMI postpetition
which it believes constitute "new value" for purposes of satisfying
the Absolute Priority Rule. Since the Petition Date, Guzman made a
$12,000 contribution on June 20, 2024, and a $100,000 contribution
on August 28, 2024 for a total of $112,000.

Moreover, Guzman reduced his salary to $190,000 as of the January
1, 2025, pay period. This $40,000 reduction is made to enhance the
Plan's feasibility. This also reduces the corresponding employment
tax liability. The reason for the prior $230,000 salary was not to
benefit Guzman financially, but to allow him to service the
personal credit card debt he has incurred over the past two years
for the benefit of MMI.

MMI will distribute all Plan payments from revenue received from
its business operations.

A full-text copy of the First Amended Disclosure Statement dated
January 22, 2025 is available at https://urlcurt.com/u?l=Mywhi3
from PacerMonitor.com at no charge.

Attorneys for the Debtor:

     Carlos A. Miranda, Esq.
     Carlos G. Maldonado, Esq.
     Miranda & Maldonado, PC
     5915 Silver Springs, Bldg. 7
     El Paso, TX 79912
     Telephone: (915) 587-5000
     Facsimile: (915) 587-5001
     Email: cmiranda@eptxlawyers.com
            cmaldonado@eptxlawyers.com

                  About Mexican Manufacturers

Mexican Manufacturers, Inc., is in the manufacturing industry in El
Paso, Texas on the international border with Cd. Juarez, Mexico.

The Debtor filed its voluntary petition for relief under Chapter 11
of the Bankruptcy Code (Bankr. W.D. Tex. Case No. 24-30459) on
April 16, 2024, with as much as $1 million in both assets and
liabilities.

Judge Christopher G. Bradley oversees the case.

Miranda & Maldonado, PC and Michael L. Schmid, CPA, PLLC serve as
the Debtor's bankruptcy counsel and accountant, respectively.


MIDWEST MOBILE: To Sell Medical Equipment to Contract X-Ray
-----------------------------------------------------------
Midwest Mobile Imaging, LLC, seeks permission from the U.S.
Bankruptcy Court for the Western District of Missouri at
Springfield, to sell certain assets of the bankruptcy estate, free
and clear of liens and encumbrances.

The Debtor's bankruptcy estate consists primarily of medical
imaging equipment, vehicles, and other assets.

The Debtor's business has continued to struggle, and confirmation
of a Chapter 11 Plan will be difficult given the difficulty
retaining customers without an infusion of capital.

The Debtor negotiates to sell the Assets to Contract X-Ray
Services, Inc. for a purchase price of $350,000.

Contract X-Ray Services is purchasing the property in an "as is"
condition and agrees to accept said property in its present
condition, and the closing will be on or before March 28, 2025.

The Assets are subject to the lien of First Community Bank, Small
Business Administration, Nissan Motor Acceptance, Downtown West
Plains, Inc, Ally Financial, and GE Healthcare and he liens are
attached to the proceeds of the sale.

The Debtor has not proposed an auction process because it is not
aware of any other interested bidders, and the Buyer has required a
closing by March 28, 2025.

The Debtor also requests that, upon closing of the Contract, all
sale proceeds will be held in the Debtor's D.I.P. account.

                      About Midwest Mobile Imaging, LLC

Midwest Mobile Imaging, LLC is a full-service mobile diagnostic
x-ray services provider in Springfield, Mo.

Midwest Mobile Imaging sought protection under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. W.D. Mo. Case No. 25-60002) on January
3, 2025, with up to $500,000 in assets and up to $10 million in
liabilities. Dan Taylor, member of Midwest Mobile Imaging, signed
the petition.

Judge Brian T. Fenimore oversees the case.

Colin N. Gotham, Esq., at Evans & Mullinix, PA, represents the
Debtor as legal counsel.


MR. COOPER GROUP: Moody's Alters Outlook on 'Ba3' CFR to Positive
-----------------------------------------------------------------
Moody's Ratings has affirmed Mr. Cooper Group Inc.'s Ba3 corporate
family rating. Additionally, Moody's have affirmed Nationstar
Mortgage Holdings Inc.'s B1 backed senior unsecured debt rating,
Nationstar Mortgage LLC's B1 long-term issuer rating, and Home
Point Capital Inc.'s B1 senior unsecured debt rating, which was
previously assumed by Mr. Cooper. The outlooks for Mr. Cooper,
Nationstar Mortgage Holdings Inc. and Nationstar Mortgage LLC were
changed to positive from stable.

RATINGS RATIONALE

The ratings affirmation reflects Mr. Cooper's strong franchise in
the US mortgage market supporting its strong earnings capacity, its
solid capitalization, and its sufficient liquidity. Moody's changed
Mr. Cooper's outlook to positive from stable to reflect the
company's strengthening franchise, driving Moody's view that the
company's earnings capacity, and therefore resilience to unexpected
losses, continues to increase.

Mr. Cooper became the largest residential mortgage servicer in 2024
by successfully growing both its mortgage servicing rights (MSRs)
and subservicing portfolios. The growing scale will enhance Mr.
Cooper's competitiveness when bidding on MSRs and attracting new
subservicing business. On 1 November 2024, Mr. Cooper closed on its
previously announced acquisition of mortgage assets from Flagstar
Bank, NA. Mr. Cooper acquired MSRs supporting $77 billion of unpaid
principal balance (UPB) and a subservicing portfolio supporting
$279 billion of UPB. Pro forma for the transaction, Mr. Cooper's
servicing portfolio will increase to $1.5 trillion of UPB from
$1.24 trillion as of September 30, 2024.

Mr. Cooper reported net income of $465 million or a strong 4.5%
return on average assets (ROAA) for the nine months ending
September 30, 2024, a level Moody's view as supportive of the
positive outlook. Approximately 80% of the company's revenue was
related to servicing operations, with the remaining 20% earned
through origination activity. Mr. Cooper's growing servicing book
will continue to provide predictable fee income and most of the
company's consolidated revenue over the next two years. Earnings
from originations, however, will likely grow on a nominal basis
over the next several years from pent up demand in the housing
market following several years of weak mortgage origination
activity. Nonetheless, at current mortgage rates Moody's expect
origination activity to only increase modestly in 2025 versus
2024.

Mr. Cooper's adjusted tangible common equity to adjusted tangible
assets ratio was 30.6% as of September 30, 2024, which is better
than most non-bank mortgage company peers. Although the ratio will
decline by around 3% in the fourth quarter of 2024 due to the
acquisition of servicing assets from Flagstar Bank, NA, tangible
net worth will remain above the company's target range of 20%-25%.
Mr. Cooper's equity supports the company's large MSR portfolio,
where the value is impacted by changes in interest rates. Mr.
Cooper employs a hedging strategy to mitigate fair market value
losses on its MSRs, a credit positive. Mr. Cooper's hedging
strategy has also stabilized the company's strong GAAP earnings
over the past three years, in addition to the company's adjusted
core earnings.

Like other mortgage companies, Mr. Cooper relies on short-term
repurchase facilities (mostly one-year maturities) to finance new
originations, a credit negative. However, the company's
originations are primarily government or agency loans, supporting a
solid liquidity position. As of September 30, 2024, only 6% of the
company's warehouse facilities were committed facilities, which
Moody's view as quite modest. However, a partial offset is the
long-term relationships that the company has with most of its
warehouse lenders.

The B1 backed senior unsecured bond rating of Nationstar Mortgage
Holdings Inc. is one notch below Mr. Cooper's Ba3 CFR and
incorporates the amount of secured corporate debt collateralized by
the company's MSRs, which is senior to the company's unsecured
debt. While the secured MSR facilities provide the company with
additional liquidity, they subordinate the unsecured bond holders
to the MSR lenders, potentially increasing the loss severity of the
unsecured bond holders in the event of a default.

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

The ratings of Mr. Cooper could be upgraded if the company: 1)
continues to demonstrate strong profitability, with average
through-the-economic cycle net income to assets (excluding MSR fair
value marks) in excess of 4.0%; 2) maintains solid capitalization,
such as adjusted tangible common equity to adjusted tangible assets
of at least 20%; and 3) commits to increasing the level of
committed warehouse capacity to 15% or more of total warehouse
capacity.

The ratings of Mr. Cooper could be downgraded if: 1) the company's
financial performance materially deteriorates; 2) capitalization
falls and Moody's expect it to remain below 17.5%; 3)
through-the-cycle average net income to assets falls and Moody's
expect it to be less than 3.0%; or 4) the company's funding profile
weakens or its liquidity position deteriorates beyond an adequate
buffer to its debt covenants. In addition, Moody's could downgrade
the ratings in the event of material negative regulatory actions
that impair Mr. Cooper's franchise and ability to remain
profitable.

LIST OF AFFECTED RATINGS

Issuer: Mr. Cooper Group Inc.

Affirmations:

LT Corporate Family Rating, Affirmed Ba3

Outlook Actions:

Outlook, Changed To Positive From Stable

Issuer: Home Point Capital Inc. (Assumed by Mr. Cooper Group Inc.)

Affirmations:

Senior Unsecured (Local Currency), Affirmed B1

Issuer: Nationstar Mortgage Holdings Inc.

Affirmations:

Backed Senior Unsecured (Local Currency), Affirmed B1

Outlook Actions:

Outlook, Changed To Positive From Stable

Issuer: Nationstar Mortgage LLC

Affirmations:

LT Issuer Rating (Local Currency), Affirmed B1

Outlook Actions:

Outlook, Changed To Positive From Stable

PRINCIPAL METHODOLOGY

The principal methodology used in these ratings was Finance
Companies published in July 2024.


MY CITY BUILDERS: Director Francis Pittilloni Holds 32.2% Stake
---------------------------------------------------------------
Francis Pittilloni disclosed in a Schedule 13D filed with the U.S.
Securities and Exchange Commission that as of January 22, 2025, he
beneficially owned 5,249,513 shares of common stock of My City
Builders, Inc., representing 32.2% of the shares outstanding.

Mr. Pittilloni serves as a Director and Chief Financial Officer of
the Company and also the Chief Operating Officer and director of
PreCheck Health Services, Inc.

A full-text copy of Mr. Pittilloni's SEC Report is available at:

                  https://tinyurl.com/yckbsaxd

                   About My City Builders, Inc.

Headquartered in Miami, Fla., My City Builders, Inc., through its
subsidiary, plans to focus on real estate transactions, in which it
will buy and develop real estate for sale or rent of low-income
housing.  The Company plans to invest in three sectors of this
market by (i) buying, refurbishing, and selling traditional
foreclosures, (ii) buying, developing and renting "Land Banks" that
have an average pool of homes or lots in excess of 100 in one
location, and (iii) buying, refurbishing or developing and selling
homes made available by the government through HECM pools.

As of Oct. 31, 2024, the Company had $3.67 million in total assets
against $2.58 million in total liabilities and $1.08 million in
total stockholders' equity.

During the three months ended October 31, 2024, My City Builders
has incurred net loss of $74,485 and net cash used in operating
activities of $159,601. As of October 31, 2024, it has an
accumulated deficit of $2,094,394 and working capital deficit of
$149,043.

According to the Company, in order to continue as a going concern,
it will need, among other things, additional capital resources.
Management plans to raise necessary funding through equity and debt
financing arrangements, which may be insufficient to fund its
capital expenditures, working capital and other cash requirements.
The ability of the Company to continue operations in its new
business model is dependent upon, among other things, obtaining
financing to continue operations and continue developing the
business plan. The Company cannot give any assurance as to the
ability to develop or operate profitably. These factors, among
others, raise substantial doubt about the Company's ability to
continue as a going concern, the Company said.


MY CITY BUILDERS: PreCheck President Frank Gillen Holds 32.2% Stake
-------------------------------------------------------------------
Frank Gillen disclosed in a Schedule 13D filed with the U.S.
Securities and Exchange Commission that as of January 22, 2025, he
beneficially owned 5,249,513 shares of common stock of My City
Builders, Inc., representing 32.2% of the shares outstanding.

Mr. Gillen is the President and Director of PreCheck Health
Services, Inc.

A full-text copy of Mr. Pittilloni's SEC Report is available at:

                  https://tinyurl.com/mvua7cs5

                   About My City Builders, Inc.

Headquartered in Miami, Fla., My City Builders, Inc., through its
subsidiary, plans to focus on real estate transactions, in which it
will buy and develop real estate for sale or rent of low-income
housing.  The Company plans to invest in three sectors of this
market by (i) buying, refurbishing, and selling traditional
foreclosures, (ii) buying, developing and renting "Land Banks" that
have an average pool of homes or lots in excess of 100 in one
location, and (iii) buying, refurbishing or developing and selling
homes made available by the government through HECM pools.

As of Oct. 31, 2024, the Company had $3.67 million in total assets
against $2.58 million in total liabilities and $1.08 million in
total stockholders' equity.

During the three months ended October 31, 2024, My City Builders
has incurred net loss of $74,485 and net cash used in operating
activities of $159,601. As of October 31, 2024, it has an
accumulated deficit of $2,094,394 and working capital deficit of
$149,043.

According to the Company, in order to continue as a going concern,
it will need, among other things, additional capital resources.
Management plans to raise necessary funding through equity and debt
financing arrangements, which may be insufficient to fund its
capital expenditures, working capital and other cash requirements.
The ability of the Company to continue operations in its new
business model is dependent upon, among other things, obtaining
financing to continue operations and continue developing the
business plan. The Company cannot give any assurance as to the
ability to develop or operate profitably. These factors, among
others, raise substantial doubt about the Company's ability to
continue as a going concern, the Company said.


MY CITY BUILDERS: President Yolanda Goodell Holds 32.2% Stake
-------------------------------------------------------------
Yolanda Goodell disclosed in a Schedule 13D filed with the U.S.
Securities and Exchange Commission that as of January 22, 2025, she
beneficially owned 5,249,513 shares of common stock of My City
Builders, Inc., representing 32.2% of the shares outstanding.

Ms. Goodell serves as a Director and President of the Company and
also the Chief Marketing Officer and director of PreCheck Health
Services, Inc. (PreCheck).

A full-text copy of Ms. Goodell's SEC Report is available at:

                  https://tinyurl.com/525d7jcr

                   About My City Builders, Inc.

Headquartered in Miami, Fla., My City Builders, Inc., through its
subsidiary, plans to focus on real estate transactions, in which it
will buy and develop real estate for sale or rent of low-income
housing.  The Company plans to invest in three sectors of this
market by (i) buying, refurbishing, and selling traditional
foreclosures, (ii) buying, developing and renting "Land Banks" that
have an average pool of homes or lots in excess of 100 in one
location, and (iii) buying, refurbishing or developing and selling
homes made available by the government through HECM pools.

As of Oct. 31, 2024, the Company had $3.67 million in total assets
against $2.58 million in total liabilities and $1.08 million in
total stockholders' equity.

During the three months ended October 31, 2024, My City Builders
has incurred net loss of $74,485 and net cash used in operating
activities of $159,601. As of October 31, 2024, it has an
accumulated deficit of $2,094,394 and working capital deficit of
$149,043.

According to the Company, in order to continue as a going concern,
it will need, among other things, additional capital resources.
Management plans to raise necessary funding through equity and debt
financing arrangements, which may be insufficient to fund its
capital expenditures, working capital and other cash requirements.
The ability of the Company to continue operations in its new
business model is dependent upon, among other things, obtaining
financing to continue operations and continue developing the
business plan. The Company cannot give any assurance as to the
ability to develop or operate profitably. These factors, among
others, raise substantial doubt about the Company's ability to
continue as a going concern, the Company said.


MYA POS: Seeks to Hire BCM Advisory Group as Financial Advisor
--------------------------------------------------------------
MYA POS Services, LLC seeks approval from the U.S. Bankruptcy Court
for the District of New Hampshire to employ BCM Advisory Group, LLC
as financial advisor.

The firm will render financial advice and assistance in preparing
its financial statements, its plan of reorganization, doing its
cash flow projections, feasibility analysis, negotiations with
creditors, and the preparation of the required schedules, statement
of financial affairs and monthly operating reports.

The firm received $2,500 from the Debtor as a pre-petition retainer
together with retainers from two affiliates, Delicious 603, LLC,
and Mickeys 603, LLC, for a total of $7,500.

Jason Mills, a partner at BCM Advisory Group, LLC, disclosed in a
court filing that the firm is a "disinterested person" as the term
is defined in Section 101(14) of the Bankruptcy Code.

The firm can be reached at:

     Jason Mills
     BCM Advisory Group, LLC
     190 Main St., 3rd Floor
     Saco, ME 04072
     Tel: (207) 807-9516

              About MYA POS Services, LLC

MYA POS Services, LLC, doing business as Gusanoz Mexican
Restaurant, is a food service business located in Lebanon, N.H.

MYA POS Services sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D.N.H. Case No. 25-10010) on January 7,
2025. In its petition, the Debtor reports estimated assets up to
$50,0000 and estimated liabilities between $1 million and $10
million.

Ford, McDonald & Borden, PA represents the Debtor as counsel.


NATIONAL MENTOR: Moody's Affirms 'B3' CFR, Outlook Remains Stable
-----------------------------------------------------------------
Moody's Ratings affirmed the ratings of National MENTOR Holdings
Inc. (d/b/a "Sevita"), including the B3 Corporate Family Rating,
B3-PD Probability of Default Rating, B3 ratings on the senior
secured first lien bank credit facility (consisting of a revolving
credit facility, term loan B, delayed draw term loan, and term loan
C), and the Caa2 rating on the senior secured second lien term
loan. The outlook remains stable.

This rating action follows the announcement that Sevita will
acquire BrightSpring Community Living's service line (o/k/a
"Res-Care"), and certain direct and indirect subsidiaries of
BrightSpring Health Services (rated entity "Phoenix Guarantor
Inc."), for $835 million. The acquisition is subject to regulatory
reviews and customary closing conditions, and is expected to close
in 2025. Funding will predominantly consist of incremental debt and
new sponsor equity.

The affirmation of Sevita's B3 CFR considers Moody's expectation
for a modest increase in the company's pro forma financial leverage
for this transaction, with debt-to-EBITDA increasing to the low 6
times range from 6 times in the fiscal year ended September 30,
2024. Moody's expect that debt-to-EBITDA will decline to the high 5
times range over the next 12 to 18 months. The acquisition of
Res-Care will meaningfully increase the company's size and scale to
over $4 billion in revenue, as well as enhance the company's market
share in the highly fragmented intellectual and developmental
disabilities ("I/DD") services market. Moody's also expect the
acquisition will improve Sevita's geographic diversity. Lastly,
Moody's anticipate that Sevita's liquidity will remain good over
the next 12 months, supported by an undrawn revolving credit
facility, remaining availability under its accounts receivable (AR)
securitization facility, and modestly positive free cash flow
generation.        
   
Conversely, the Res-Care acquisition reintroduces integration risks
tied to the company's historically aggressive growth strategy and
specifically related to this acquisition, which is a carve-out from
a larger BrightSpring Health business segment. The acquisition
includes other integration considerations stemming from prior
scrutiny of the quality of services provided by Res-Care that have
resulted in government investigations and the potential for legal
liabilities, though Moody's understand that Sevita will not be held
liable for any potential legacy Res-Care liabilities.

RATINGS RATIONALE

Sevita's B3 CFR reflects the company's high regulatory and
reimbursement risk given its reliance on government payors,
specifically Medicaid, and its exposure to state budgets, which may
come under pressure during weak economic periods. Elevated labor
costs, moderately high geographic concentration, and a historically
aggressive expansion strategy also constrain the company's rating.
Moody's expect financial leverage will remain high but decline to
the mid-to-high 5 times range over the next 12 to 18 months driven
by Moody's expectation for earnings growth.

Supporting Sevita's B3 CFR is the company's position as one of the
leading providers of home and community-based services to
individuals with I/DD and catastrophic injuries. Industry trends
are moving towards placing I/DD individuals in smaller, lower-cost
community settings (such as those operated by Sevita) instead of
large state operated institutions. The current reimbursement
outlook remains stable, with rate increases realized or expected in
several states, though the majority of such increases are passed
through directly to employee wages in order to ease labor
pressures.

Moody's expect Sevita to maintain good liquidity over the next 12
months. As of September 30, 2024, the company had approximately $7
million of cash on the balance sheet. Moody's expect Sevita to
generate positive free cash flow in the next 12 months. Sevita has
access to about $150 million of its $160 million revolving credit
facility and about $107 million of its $175 million accounts
receivables (AR) securitization facility, as of September 30, 2024.
The revolving credit facility expires in March 2026 and the AR
securitization facility expires in February 2026. Moody's
anticipate the company will have sufficient cushion under its
springing first lien net leverage covenant of 8.5 times on the
revolver, which is tested if revolver usage exceeds 35% or $56
million.

Sevita's senior secured first lien credit facility, comprised of a
$160 million revolving credit facility expiring 2026, $1.7 billion
term loan B due 2028, $165 million delayed draw term loan (of which
approximately $89 million was drawn) due 2028, and $50 million term
loan C due 2028, is rated B3, at the same level as the B3 Corporate
Family Rating. This reflects the fact that the first lien credit
facilities comprise the preponderance of debt in the capital
structure. The $180 million second lien term loan due 2029 is rated
Caa2.

The stable outlook reflects Moody's expectation that Sevita's
financial leverage will decline to the mid-to-high 5 times range
while maintaining good liquidity over the next 12 to 18 months. In
addition, the stable outlook incorporates Moody's expectation that
Sevita will successfully integrate the Res-Care acquisition.

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

The ratings could be downgraded if Sevita experiences any
unexpected operating setbacks that materially weaken the company's
earnings and cash flows. This could include reimbursement pressure
due to growing state budgetary constraints or further rising labor
costs. Ratings could be downgraded if Sevita fails to successfully
integrate the Res-Care acquisition. A downgrade could also occur if
the company's liquidity weakens or the company pursues further
large debt-funded shareholder dividends or acquisitions.

The ratings could be upgraded if Sevita maintains less aggressive
financial policies such that debt to EBITDA is sustained below 5.5
times based on Moody's calculations. Further improvements in
liquidity, evidenced by consistent positive free cash flow
generation, could also result in a ratings upgrade.

National MENTOR Holdings Inc. (Sevita) provides home and
community-based services to individuals with intellectual or
developmental disabilities, persons with acquired brain and other
catastrophic injuries, at-risk youth, and the elderly. Revenues are
approximately $3 billion for the last twelve month period ending
September 30, 2024. Sevita is owned by Centerbridge Partners LP,
The Vistria Group and Madison Dearborn Partners, LLC.    

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


NOVABAY PHARMACEUTICALS: Completes Avenova Sale to PRN Physician
----------------------------------------------------------------
NovaBay Pharmaceuticals, Inc. announced the completion of the sale
of its Avenova eyecare business and related assets to PRN Physician
Recommended Nutriceuticals, LLC for $11.5 million.

The Asset Sale, representing substantially all of the assets of the
Company, was consummated pursuant to the Asset Purchase Agreement
dated September 19, 2024, as amended, which NovaBay stockholders
approved at the Special Meeting of Stockholders reconvened on
January 16, 2025.

"The divestiture of our eyecare business has allowed us to monetize
this valuable asset and to return value to our stockholders, while
providing the Avenova brand an opportunity to grow, flourish and
reach its full potential in the future," said Justin Hall, NovaBay
CEO. "This transaction brings significant change to NovaBay, ending
one chapter and creating an exciting new opportunity for the
Avenova brand. We will be excited to see the brand thrive in the
years to come. We appreciate the support of our stockholders in
approving this transaction."

                         About Novabay

Headquartered in Emeryville, California, NovaBay Pharmaceuticals,
Inc. -- http://www.novabay.com/-- develops and sells
scientifically created and clinically proven eyecare and skincare
products. The Company's leading product, Avenova Antimicrobial Lid
and Lash Solution, or Avenova Spray, is proven in laboratory
testing to have broad antimicrobial properties as it removes
foreign material, including microorganisms and debris, from the
skin around the eye, including the eyelid.

San Francisco, California-based WithumSmith+Brown, PC, the
Company's auditor since 2010, issued a "going concern"
qualification in its report dated March 26, 2024, citing that the
Company has sustained operating losses for the majority of its
corporate history and expects that its 2024 expenses will exceed
its 2024 revenues, as the Company continues to invest in its
commercialization efforts. Additionally, the Company expects to
continue incurring operating losses and negative cash flows until
revenues reach a level sufficient to support ongoing growth and
operations. Accordingly, the Company has determined that its
planned operations raise substantial doubt about its ability to
continue as a going concern.


NOVABAY PHARMACEUTICALS: Extends CEO's Employment to Dec. 31
------------------------------------------------------------
NovaBay Pharmaceuticals, Inc. disclosed in a Form 8-K Report filed
with the U.S. Securities and Exchange Commission that on January
15, 2025, the Company and Justin M. Hall, the Chief Executive
Officer and General Counsel of the Company, executed a Third
Amendment to Mr. Hall's Executive Employment Agreement, dated
January 31, 2020, as amended by the First Amendment to Executive
Employment Agreement, effective as of December 31, 2021 and the
Second Amendment to Executive Employment Agreement, effective as of
December 31, 2023, to further extend the term of his employment
under the Employment Agreement until December 31, 2025 (unless
terminated earlier in accordance with the terms of the Employment
Agreement).

                         About Novabay

Headquartered in Emeryville, California, NovaBay Pharmaceuticals,
Inc. -- http://www.novabay.com/-- develops and sells
scientifically created and clinically proven eyecare and skincare
products. The Company's leading product, Avenova Antimicrobial Lid
and Lash Solution, or Avenova Spray, is proven in laboratory
testing to have broad antimicrobial properties as it removes
foreign material, including microorganisms and debris, from the
skin around the eye, including the eyelid.

San Francisco, California-based WithumSmith+Brown, PC, the
Company's auditor since 2010, issued a "going concern"
qualification in its report dated March 26, 2024, citing that the
Company has sustained operating losses for the majority of its
corporate history and expects that its 2024 expenses will exceed
its 2024 revenues, as the Company continues to invest in its
commercialization efforts. Additionally, the Company expects to
continue incurring operating losses and negative cash flows until
revenues reach a level sufficient to support ongoing growth and
operations. Accordingly, the Company has determined that its
planned operations raise substantial doubt about its ability to
continue as a going concern.

As of September 30, 2024, NovaBay Pharmaceuticals had $3.9 million
in total assets, $2.8 million in total liabilities, and $1.1 in
total stockholders' equity.



ONYX OWNER: U.S. Trustee Unable to Appoint Committee
----------------------------------------------------
The U.S. Trustee for Region 3 disclosed in a court filing that no
official committee of unsecured creditors has been appointed in the
Chapter 11 case of Onyx Owner, LLC.

                        About Onyx Owner LLC

Onyx Owner, LLC's business involves a residential apartment project
consisting of 266 residential apartment units and related amenities
located at 1100 First Street SE, Washington DC 2003.

The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Del. Case No. 24-12816) on December 18,
2024. In the petition signed by Joshua Ufberg, authorized
signatory, the Debtor disclosed up to $50 million in both assets
and liabilities.

Robert J. Dehney, Sr., Esq., at Morris, Nichols, Arsht & Tunnell,
LLP represents the Debtor as legal counsel.


OUTLOOK THERAPEUTICS: GMS Ventures Holds 38.6% Stake as of Jan. 17
------------------------------------------------------------------
GMS Ventures & Investments and Ghiath M. Sukhtian disclosed in a
Schedule 13D/A filed with the U.S. Securities and Exchange
Commission that as of January 17, 2025, GMS Ventures directly owns
5,808,074 Shares and 6,917,142 warrants to purchase Shares,
representing a total of 12,725,216 Shares beneficially owned by GMS
Ventures. This represents approximately 38.6% of the 24,905,635
outstanding Shares of the Company, as set forth in the Company's
Annual Report on Form 10-Q for the year ending September 30, 2024,
filed with the SEC on December 27, 2024, plus 3,458,571 Shares
underlying Tranche A Inducement Warrants and 3,458,571 Shares
underlying Tranche B Inducement Warrants, calculated pursuant to
Rule 13d-3 under the Act.

Mr. Sukhtian is the holder of a controlling interest in GMS
Holdings, which is the sole owner of GMS Ventures. By virtue of
such relationship, Sukhtian may be deemed to beneficially own the
securities held by GMS Ventures for purposes of Rule 13d-3 under
the Act. This represents approximately 38.6% of the outstanding
Shares calculated pursuant to Rule 13d-3 under the Act.

A full-text copy of GMS Ventures' SEC Report is available at:

                  https://tinyurl.com/y2k3hnab

                    About Outlook Therapeutics

Headquartered in Iselin, New Jersey, Outlook Therapeutics --
www.outlooktherapeutics.com -- is a biopharmaceutical company
focused on the development and commercialization of
ONS-5010/LYTENAVA (bevacizumab-vikg; bevacizumab gamma), for the
treatment of retina diseases, including wet AMD.  LYTENAVA
(bevacizumab gamma) is the first ophthalmic formulation of
bevacizumab to receive European Commission and MHRA Marketing
Authorization for the treatment of wet AMD.  Outlook Therapeutics
is working to initiate its commercial launch of LYTENAVA
(bevacizumab gamma) in the EU and the UK as a treatment for wet
AMD, expected in the first half of calendar 2025.  In the United
States, ONS-5010/LYTENAVA is investigational, is being evaluated in
an ongoing non-inferiority study for the treatment of wet AMD, and
if successful, the data may be sufficient for Outlook to resubmit a
BLA to the FDA in the United States.  If approved in the United
States, ONS 5010/LYTENAVA, would be the first approved ophthalmic
formulation of bevacizumab for use in retinal indications,
including wet AMD.

Philadelphia, Pennsylvania-based KPMG LLP, the Company's auditor
since 2015, issued a "going concern" qualification in its report
dated Dec. 27, 2024, citing that the Company has incurred recurring
losses from operations and negative cash flows from operations and
has an accumulated deficit, that raise substantial doubt about its
ability to continue as a going concern.

As of Sept. 30, 2024, Outlook Therapeutics had $28.82 million in
total assets, $101.90 million in total liabilities, and a total
stockholders' deficit of $73.08 million.


PAPER IMPEX: To Sell Truck & Trailer to Rubens Luck
---------------------------------------------------
Paper Impex USA Inc. seeks permission from the U.S. Bankruptcy
Court for the Eastern District of New York, to sell truck and
trailer.

The Debtor's vehicles that are up for sale are comprised of 2019
Volvo Truck VIN 4VNC9EH4KN225760, 2020 Cottrell Trailer VIN
5E0AU1748LG327801, 2020 Cottrell Trailer VIN 5E0AU1746LG323701, and
2020 Cottrell Trailer VIN 5E0AU1743LG323901.

Mitsubishi HC Capital America Inc is a secured creditor and the
holder of a duly perfected security interest in the equipment.

On December 26, 2024, the Debtor and Sereja Chalumyan, the owner of
Rubens Luck Inc., executed a purchase agreement with respect to the
equipment known as 2020 Cottrell Trailer VIN 5E0AU1748LG327801,
2020 Cottrell Trailer VIN 5E0AU1746LG323701, and 2020 Cottrell
Trailer VIN 5E0AU1743LG323901 with the total purchase of $120,000.


On January 13, 2025, the Debtor and Sereja Chalumyan, the owner of
Rubens Luck Inc., executed a purchase agreement with respect to the
equipment known as 2019 Volvo Truck VIN 4VNC9EH4KN225760 with the
purchase price of $30,000.

The Debtor has obtained consent from Mitsubishi to sell the
equipment to Sereja Chalumyan.

The closing date will take place at a time and place mutually
agreeable to the Debtor and Rubens Luck and pursuant to the terms
of the purchase agreement.

The Debtor seeks to sell the equipment free and clear of all liens
with the liens to attach to the proceeds of the sale.

                        About Paper Impex USA

Paper Impex USA Inc. filed its voluntary petition for relief under
Chapter 11 of the Bankruptcy Code (Bankr. E.D.N.Y. Case No.
24-41618) on April 16, 2024, listing $2,724 in assets and
$2,715,113 in liabilities. The petition was signed by Zafar
Israilov as president.

Judge Nancy Hershey Lord presides over the case.

Alla Kachan, Esq., at the LAW OFFICES OF ALLA KACHAN, P.C., serves
as counsel of the Debtor.


PASKEY INC: Gets OK to Use $165,758 in Cash Collateral
------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of Texas,
Houston Division, granted Paskey Inc.'s second final emergency
motion to use cash collateral.

The order signed by Judge Alfredo Perez on Jan. 28 authorized the
company to use cash collateral to pay expenses that must be paid no
later than Feb. 28 in an amount not to exceed $165,758 and in
accordance with the second final budget. The order is effective
immediately.

As protection, secured creditors claiming an interest in the cash
collateral were granted replacement liens on the same assets on
which they held pre-bankruptcy liens.

                     About Paskey Incorporated

Paskey Incorporated is a general contractor in La Porte, Texas.

Paskey Incorporated sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. S.D. Tex. Case No. 24-90433) on July 28,
2024. In the petition filed by Curtis W. Paskey, as president, the
Debtor reports estimated assets and liabilities between $1 million
and $10 million each.

The Honorable Bankruptcy Judge Alfredo R. Perez oversees the case.

The Debtor is represented by Bennett G. Fisher, Esq. at LEWIS
BRISBOIS BISGAARD & SMITH.


PATCHELL HOLDINGS: Moody's Alters Outlook on 'B3' CFR to Positive
-----------------------------------------------------------------
Moody's Ratings affirmed Patchell Holdings Inc.'s (PHI) B3
corporate family rating and the B3-PD probability of default
rating. Moody's also affirmed the B2 rating to the backed senior
secured first lien term loan debt issued at PHI's subsidiary
Goodlife Fitness Centres Inc. The rating outlook for both issuers
changed to positive from stable.

"The change in rating outlook to positive reflects the steady
membership growth and price stability seen at PHI's fitness clubs
over the past 12 months that has driven higher than expected
revenue and EBITDA in 2024, which if sustained, will result in
debt/EBITDA remaining below 5x and steady free cash flow
generation." said Dion Bate, Moody's Ratings Vice President.

RATINGS RATIONALE

Since the removal of covid related restrictions in 2022, there has
been a steady return to in-person fitness clubs, aided by the
increased flexibility of working from home and the access to a full
range of gym services that cannot be replicated at home. PHI,
through its banners GoodLife, Fit4Less, and Econofitness, which
operate at different price points, has experienced a 6.5%
membership growth and steady price increases over the prior 12
months to September 2024, resulting in a 14% growth in revenue.
Moody's anticipate that revenue and EBITDA growth will moderate in
2025, with consumers more selective with their discretionary
spending and steady net membership growth from the opening of new
clubs. Should Patchell continue to execute well and maintains a
conservative policy stance, Moody's project debt/EBITDA will trend
to 4x with EBITA /interest expense to increasing toward 1.5x by
fiscal 2025. The stronger credit metrics positions PHI to refinance
its C$625 million term loan well before the maturity date in
October 2026. However, failure to refinance the term loan in a
timely manner would be viewed negatively.

PHI's rating is constrained by: 1) competitive fitness club
industry that experiences high membership attrition; 2) shifts in
discretionary consumer spending and competition from technology
based fitness services; 3) weak but improving interest coverage
metrics with EBITA/interest expense to trend toward 1.5x; and 4)
adequate liquidity but growing refinancing risk as term loan nears
its October 2026 maturity.

The company is supported by: 1) its well-recognized brand name and
strong position as the premier fitness club operator in Canada; 2)
continued membership recovery since the pandemic and price
stability underpinning the decline in debt/EBITDA to 4.4x as of
September 2024; 3) Moody's expectation that the focus on physical
health and wellness will continue to drive revenue and EBITDA
growth; and 4) solid operating cash flow that supports the
self-funding of new club openings.

PHI has adequate liquidity over the next four quarters. The company
had cash of around C$64 million at September 2024. Moody's expect
PHI will generate C$10 million free cash flow over the next four
quarters through September 2025 despite high capex investments. The
company does not have a revolver at this time and expect PHI to be
comfortably in compliance with its net total leverage covenant.

The positive outlook reflects Moody's expectation that PHI's credit
metrics will continue to improve over the next 12-18 months driven
by moderate growth in membership, revenue and EBITDA. It further
incorporates Moody's expectation that PHI will maintain financial
discipline regarding capital expenditures, financial leverage and
shareholder distributions, and that it will refinance its C$625
million terms due October 2026 before it becomes current.

The C$625 million first-lien term loan facility due in October 2026
is rated B2, one notch higher than the B3 CFR. The one notch
differential is driven by the first lien term loan's effective
priority over unsecured obligations, mainly consisting of operating
lease commitments.

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

The ratings could be upgraded if the company's revenue and EBITDA
improved in line with improving industry conditions, if debt/EBITDA
declines below 6x and the company's liquidity profile improves as a
result of sustained positive free cash flow generation.

The ratings could be downgraded if the company's revenue and EBITDA
declined, if debt/EBITDA is sustained above 7.5x on a sustained
basis, or EBITDA/interest expense trends toward 1x, or if the
company's liquidity profile deteriorated as a result of sustained
negative free cash flow or inability to address the C$625 million
term loan due October 2026 before it becomes current.

Patchell Holdings Inc. is the premier operator of fitness clubs
(gyms) in Canada, with locations in every province. The company is
headquartered in London, Ontario. The company has several banners,
including its full-service GoodLife clubs, its high value low cost
(HVLC) Fit4Less offerings, and Quebec-based Econofitness clubs.
Patchell Holdings Inc. is the guarantor of the debt issued at
Goodlife Fitness Centres Inc.

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


PENNS GROVE: Seeks Chapter 11 Protection in New York
----------------------------------------------------
On January 28, 2025, Penns Grove Ventures LLC filed Chapter 11
protection in the U.S. Bankruptcy Court for the Eastern District
of New York.

According to court filing, the Debtor reports between $10 million
and $50,000 in debt owed to 1 and 49 creditors. The petition
states funds will be available to unsecured creditors.

A meeting of creditors under 341(a) to be held on March 3, 2025 at
02:15 PM at Telephonic Meeting: Phone 1 (877) 929-2553, Participant
Code 1576337#.

           About Penns Grove Ventures LLC

Penns Grove Ventures LLC is involved in real estate activities.
Specifically, the Debtor is a party to a Purchase and Sale
Agreement (PSA) dated Feb. 21, 2023, under which the Debtor agreed
to purchase certain real property. The property consists of a
144-unit residential apartment complex known as Penns Grove
Apartments, located on Helms Cove Lane in the Borough of Penns
Grove, Salem County, New Jersey. The property is being sold by
Penns Grove Apartments, LLC. Under the terms of the PSA, the Debtor
has agreed to pay a total sum of $17,500,000 for the purchase of
the property.

Penns Grove Ventures LLC sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. E.D.N.Y. Case No. 25-40440) on January 27,
2025. In its petition, the Debtor reports estimated assets and
liabilities between $10 million and $50 million each.

Honorable Bankruptcy Judge Jil Mazer-Marino  handles the case.

The Debtor is represented by:

     J. Ted Donovan, Esq.
     Goldberg Weprin Finkel Goldstein LLP
     New York, NY 10017-5690
     Email: knash@gwfglaw.com


PHYSICIAN PARTNERS: S&P Upgrades ICR to 'CCC+', Outlook Negative
----------------------------------------------------------------
S&P Global Ratings raised its issuer credit rating on Medicare
Advantage-focused primary care service provider Physician Partners
LLC to 'CCC+' from 'SD' (selective default). The outlook is
negative.

S&P said, "At the same time, we assigned a 'B' issue-level rating
and '1' recovery rating to the company's super-priority first-out
secured term loan and revolving credit facility, both due in 2029.
The '1' recovery rating indicates our expectation for very high
(90%-100%; rounded estimate: 95%) recovery for lenders in the event
of a payment default.

"We also assigned a 'CCC-' issue-level rating and '6' recovery
rating to the company's super-priority second-out and third-out
term loans, due in 2029 and 2030, respectively. We raised the
issue-level rating on the unexchanged initial term loan to 'CCC-'
from 'D' and assigned a '6' recovery rating. The '6' recovery
rating indicates our expectation for negligible (0%-10%; rounded
estimate: 0%) recovery for lenders in the event of a payment
default.

"The negative outlook reflects our view that the company is
currently susceptible to cash burn resulting from elevated medical
costs due to higher utilization rate and lower base rate, impact of
CMS-HCC model V28, and de novo costs."

Physician Partners completed an exchange transaction that extends
the maturities on its debt obligations and exchanges about 97% of
the first-lien term loan into three new tranches of super-priority
debt with a portion of the initial term loan lenders receiving a
discount relative to the original commitment.

In conjunction with this transaction, Physician Partners issued
approximately $113 million of super-priority term loan and will use
the proceeds to support liquidity.

S&P said, "The transaction provides additional liquidity and
extends Physician Partners' maturities.  We believe the company
will use the newly issued super-priority debt to supplement its
liquidity and fund operational purposes over the coming years.
Further, part of the interest expense on the junior tranches of the
exchanged debt will be paid-in-kind (PIK) and the transaction
suspends mandatory amortization on the junior tranches of debt. The
company also extended its debt maturities to 2029 and beyond, which
gives it additional leeway to continue to improve its operational
performance and gain stability through the elevated medical cost
ratio and implementation of the new risk adjustment model (CMS-HCC
model V28). Incremental cash interest associated with the new term
loan is more than offset by the conversion of a portion of cash
interest to PIK on the junior tranches of the term loan.

"However, we do not believe the reduced cash interest expense and
decreased amortization requirement will provide a substantial
improvement to free operating cash flow (FOCF). We anticipate the
reduced cash interest expense and mandatory amortization to improve
FOCF by only about $8 million to $10 million annually.

Physician Partners' capital structure is expected to remain
unsustainable over the long term.  We believe Physician Partners is
highly dependent on a multitude of favorable conditions to meet its
financial obligations--including a moderating medical cost ratio,
successful ramp up in de novo locations, better reimbursement
rates, and a decline in interest rates. While we expect Physician
Partners to benefit from cost-cutting and potential rate
improvements in 2026, we believe the company's ability to generate
positive cash flow is highly uncertain and not likely until 2028.
However, we do not anticipate credit or payment pressure in the
next 12 months given that total liquidity--cash balance and
revolver availability--appears adequate.

"We expect Physician Partners' low profitability to persist through
2028.  Despite concerted efforts to improve efficiency by scaling
back on expansion, exiting non-profitable locations, and
terminating lower performing affiliates, we believe the company's
EBITDA margin will remain below 1% in 2025 and 2026. Operating
costs continue to be affected by a material spike in elective
outpatient procedures and a higher medical cost ratio resulting
from higher overall patient care expenses.

"We believe EBITDA will continue to be suppressed through 2027 and
expect the de novos to take longer to break even due to
industry-wide headwinds, such as higher utilization trends,
elevated medical cost ratio, transition to the CMS-HCC Model V28,
and pricing mismatches. The transition to the new risk rating model
is expected to result in lower PMPM premiums for patients with
added complications to certain conditions that were previously
categorized at a higher risk assessment. We expect these factors to
be a significant headwind to the company's revenue growth and
further affect its ability to generate EBITDA and build cash flows
at least until 2028.

"We expect Physician Partners to continue be in a cash flow deficit
until 2028.  We expect the company to be in a free cash flow
deficit until 2028 because of its low profitability. While the new
debt issuance has resulted in a strong liquidity position of a
minimum of $250 million, we expect the company to burn about $50
million to $60 million of cash throughout 2025. We expect cash flow
in 2026 will continue to be affected by a high medical cost ratio
combined with the impact of a fully implemented V28 risk model,
with cash flow at an outflow of $90 million to $100 million. We
expect the company to begin to turn around its operations and build
cash flow to reduce the deficit in 2027 and turn positive in 2028.
The company is dependent on a successful ramp up of its de novo
operations, a decline in interest rates, and improvements in its
medical cost ratio to return to positive cash flow. If any of these
scenarios are delayed, the company may not have sufficient
liquidity to fund its operating losses and the capital structure
may become unsustainable.

"The negative outlook reflects our view that the company is
currently susceptible to cash burn resulting from elevated medical
costs due to higher utilization rate and a lower base rate, the
impact of CMS-HCC model V28, and de novo costs."

S&P could lower its ratings on the company if it expects the
company is likely to default in the next 12 months. This could
occur if:

-- There is an increased cash burn from elevated medical costs,
utilization rate, lower reimbursement, and de novo costs or
greater-than-anticipated impact of CMS-HCC Model V28 implementation
and S&P does not believe the company has sufficient liquidity to
fund its cash burn; or

-- If S&P expects the company could pursue another debt
restructuring or a bankruptcy filing.

There could be a rating upside if S&P believes the company will be
able to generate sustainably positive FOCF well in advance of when
it will need to refinance any upcoming maturities and it views its
capital structure as sustainable over the long term. This could
occur if:

-- The 2026 reimbursement rates increase from 2025 levels, such
that S&P believes the company's medical cost ratio will improve;
and

-- The utilization rate normalizes resulting in an improvement in
cash flow; and

-- The de novo centers are ramping up on schedule with
improvements in the cash burn.



PITNEY BOWES: Moody's Rates New Senior Secured Loans 'Ba2'
----------------------------------------------------------
Moody's Ratings assigned Ba2 ratings to Pitney Bowes Inc.'s
proposed senior secured first lien revolver, term loan A and term
loan B debt facilities. All other ratings including the B1
Corporate Family Rating and stable outlook remain unchanged. The
proposed facilities will be used to refinance existing secured debt
and push out maturities. The company also reduced overall debt
prior to the refinancing transaction with the repayment of the $275
million Secured Notes due 2028.

RATINGS RATIONALE

Pitney Bowes' B1 CFR benefits from the leading market positions of
its businesses (post the August 2024 exit from the Global Ecommerce
business (GEC)) and long-standing customer relationships under
multi-year contracts in the highly regulated mail metering market.
Although the recent divestiture of GEC decreased overall revenues
and business diversification, the credit profile of Pitney Bowes
has stabilized given the disposition of the unprofitable GEC
business which should lead to meaningful increases in adjusted
EBITDA and free cash flow. Moody's expect adjusted leverage will
improve to roughly 4x by December 2024 (pro forma for the GEC
disposition, or 6x excluding equipment financing adjustments) from
4.9x as of June 2024 prior to the GEC disposition.  Normalized free
cash flow should increase to $150 million or more in 2025, well
above negative levels in 2023. An estimated $230 million of costs
related to the GEC exit and incremental cost-initiatives are
expected to be funded with operating cash flow and a portion of
balance sheet cash.

Despite the secular decline in mail volumes globally, Pitney Bowes
has been able to grow segment EBITDA for its remaining businesses,
SendTech and Presort, nearly 13% in the first 9 months of 2024
while minimizing segment revenue declines (down approximately 3%
for the same period due to moderate declines in SendTech). SendTech
and Presort represents approximately two thirds and one third,
respectively, of the revenues of the remaining businesses.

The stable outlook for Pitney Bowes reflects the increase in
expected EBITDA and free cash flow, following the funding of
one-time costs, as a result of the exit from GEC. Debt to EBITDA
should approach 4x (Moody's adjusted, pro forma for GEC exit, or 6x
excluding equipment financing adjustments) by the end of 2024 with
adjusted free cash flow to debt improving to the mid single digit
percentage range in 2025. Moody's expect SendTech to generate flat
to growing segment EBITDA over the next year, despite a low single
digit percentage decline in revenues, and Presort to produce low
single digit percentage growth in revenue and segment EBITDA.
Improvements in credit metrics will be driven by expansion in
adjusted EBITDA margins to a run-rate of roughly 20% by the end of
2025 from just under 10% prior to the exit from GEC.

The Speculative Grade Liquidity (SGL) rating of SGL-2 reflects good
liquidity. Despite the vast majority of operating cash flow and a
portion of excess cash being applied to fund the GEC disposition
and incremental cost-takeouts, liquidity will remain good with a
new $265 million revolver expiring in 2028 (reduced from $400
million) and significantly improved ongoing cash flow from
operations. With the current refinancing, there are no near-term
debt maturities until March 2027.

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

Ratings could be upgraded if Pitney Bowes demonstrates consistent
growth in revenue and free cash flow with EBITDA margins (Moody's
adjusted) in the mid 20% range. Adjusted debt/EBITDA would need to
be maintained in the mid 3x range with adjusted free cash flow to
debt in the high single digit percentages. Liquidity would need to
remain good with growing cash balances and ample revolver
availability. Moody's would also need to be comfortable with the
execution and financial policies related to captive and third party
equipment financing.

Ratings could be downgraded if Pitney Bowes' consolidated revenue
trends fall below Moody's expectation for flat to low single-digit
percentage declines over the next year reflecting weakness in
mature mailing operations or competitive pressures. Ratings could
also be downgraded if Moody's expect adjusted pro forma leverage
will exceed 4.5x after December 2024, adjusted EBITDA margins fail
to improve to projected levels, or if Moody's expect adjusted free
cash flow to debt will remain in the low single digit percentage
range after 2024. Downward ratings pressure could also arise if
Pitney Bowes incurs higher than expected costs or liabilities
associated with the exit from GEC or if the liquidation does not
move forward as planned. Funding distributions, other than
quarterly dividends, prior to adjusted debt to EBITDA improving to
the low 4x range could also result in a downgrade.

Based in Stamford, CT, Pitney Bowes Inc. is a shipping and mailing
company that provides technology, sortation services and financial
services to small and medium sized businesses, large enterprises,
retailers and government clients. Moody's expect the company will
generate roughly $1.9 billion of revenues over the next year, pro
forma for the exit from Global Ecommerce businesses.

The principal methodology used in these ratings was Diversified
Technology published in February 2022.


QUIKRETE HOLDINGS: Moody's Cuts CFR & Sr. Secured Term Loan to Ba3
------------------------------------------------------------------
Moody's Ratings downgraded Quikrete Holdings, Inc.'s Corporate
Family Rating to Ba3 from Ba2, Probability of Default Rating to
Ba3-PD from Ba2-PD, and the ratings on the company's senior secured
term loans due 2029 and 2031 to Ba3 from Ba2. At the same time,
Moody's assigned a Ba3 rating to Quikrete's proposed $3 billion
senior secured first lien term loan B due 2032 and a Ba3 rating to
other secured debt. The proposed term loan will have similar terms
and conditions as Quikrete's existing term loans. All of Quikrete's
term loans and other secured debt are pari passu to each other. In
addition, Moody's assigned a B2 rating to Quikrete's other
unsecured debt. The outlook is stable.

Previously, the ratings were on review for downgrade. This
concludes the review for downgrade initiated on November 27, 2024.

Proceeds from the proposed credit facilities, borrowings under its
new $1.5 billion asset based revolving credit facility (unrated)
and around $1.9 billion of cash on hand will be used to acquire
Summit Materials, Inc., a parent holding company of Summit
Materials, LLC (Summit Materials, Ba2 positive) for about $11.9
billion, including related fees and expenses.

"The downgrade of Quikrete's ratings to Ba3 reflects the
substantial increase in leverage as a result of the acquisition of
Summit Materials," according to Peter Doyle, a Moody's Ratings
VP-Senior Analyst. "Execution and integration risks are high due to
the size of the transaction. Quikrete will need to successfully
execute its operational plans to generate the targeted earnings and
free cash flow, while facing intense competition from other
aggregate-related companies," added Doyle.

Moody's project adjusted debt-to-EBITDA will increase to around 5x
on a pro forma basis from 2.4x as of September 30, 2024. Quikrete
faces tremendous integration challenges with its largest
acquisition to date, while facing intense competition from bigger,
better capitalized aggregates-related companies. Summit Materials,
with around 7,000 employees, has over 450 facilities and plants
within the US. Further, there may be unforeseen challenges with the
integration of Argos North America Corp. (Argos USA), acquired by
Summit Materials in January 2024.

RATINGS RATIONALE

Quikrete's Ba3 CFR benefits from Moody's expectation of strong
operating performance and sizeable positive free cash flow
generation following the acquisition of Summit Materials. Despite
Summit Materials being a lower margin business, Moody's project
small improvements in Quikrete's operating margins through 2026
relative to its 20% operating margin for the last twelve months
ending September 30, 2024. Margin improvement is due to operating
leverage from end-market demand and cost savings from synergies of
the combined businesses including vertical integration. Improving
operating performance and a successful integration of Summit
Materials will support a gradual deleveraging to around 4x adjusted
debt-to-EBITDA by 2026 under Moody's base case from around 5x on a
pro-forma basis at closing.

Quikrete maintains strong market positions in ductile iron and
concrete pipes, as well as concrete and cement mixes. Summit
Materials, a national provider of ready-mix concrete, cement,
aggregates (crushed stone, sand and gravel), and asphalt and
related paving services, affords vertical integration potential,
especially for the manufacturing of concrete pipes, and provides
Quikrete with a wide range of new products. The combined entity's
exposure to the domestic construction end markets - infrastructure,
residential construction and commercial - is well balanced,
reducing earnings volatility and dependance on one subsector.
Offsetting these strengths are the cyclicality of these end markets
and distribution channel concentration for its retail-related
products.

ENVIRONMENTAL, SOCIAL AND GOVERNANCE CONSIDERATIONS

Corporate governance considerations associated with the company's
financial strategy and risk management were key drivers of the
ratings action. Quikrete's CIS-3 indicates that ESG have a limited
impact on the current credit rating with potential for greater
negative impact over time.

While the company has historically maintained a conservative
financial policy, the decision to fund with mostly debt a
transformational transaction such as the Summit Materials purchase
indicates a less conservative financial policy relative to the past
two years.

LIQUIDITY

Moody's project Quikrete will maintain good liquidity, generating
decent free cash flow in each of the next two years despite very
high interest payments approaching $1 billion in 2025. However,
cash on hand is not a material source of liquidity. Revolver
availability is more than sufficient to meet working capital needs
due to seasonal demands. Quikrete has access to a $1.5 billion
asset based revolving credit facility with a stated maturity in
2030, which is governed by a borrowing base calculation that
fluctuates with business seasonality. Revolver availability will be
about $1 billion at year-end 2025, after considering $500 million
in borrowings, minimum letters of credit issuances and the
borrowing base formula. The size of the revolver and resulting
availability is modest relative to the company's high cash interest
payments and capital expenditures, which Moody's project at about
$630 million for 2025. Quikrete has no material near-term debt
maturities.

The stable outlook reflects Moody's expectation that Quikrete will
successfully integrate Summit Materials into its business,
generating healthy operating margins, robust levels of free cash
flow despite increased interest payments and gradually delever.

The Ba3 ratings on Quikrete's senior secured term loans and senior
secured notes due 2032, the same rating as the corporate family
rating, result from their position as the preponderance of debt in
Quikrete's capital structure. The term loan and secured notes are
pari passu to each other. Each has a first lien on substantially
all noncurrent assets and a second lien on assets securing the
company's asset based revolving credit facility (ABL priority
collateral).

The B2 rating on the company's senior unsecured notes due 2033, two
notches below the corporate family rating, results from their
subordination to the company's considerable amount of secured
debt.

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

A ratings upgrade could occur if end markets remain supportive of
organic growth such that adjusted debt-to-EBITDA is sustained below
4x. Generation of strong free cash flow, preservation of good
liquidity and maintaining conservative financial policies would
also support upward ratings movement.

A ratings downgrade could occur if debt reduction fails to
materialize and adjusted debt-to-EBITDA remains above 5x or if
operating performance erodes on a sustained basis. Negative ratings
pressure may also transpire if liquidity deteriorates or the
company pursues more sizeable debt-financed acquisitions or
aggressive financial policies.

Quikrete, headquartered in Atlanta, Georgia, is a leading
manufacturer of infrastructure, commercial and industrial
construction, repair, and home improvement products, including
ready to use cement mixes, tile installation systems, concrete
pipe, ductile iron pipe and corrugated metal pipe in North America.
Quikrete, upon closing of the acquisition of Summit Materials, will
be a national provider of ready-mix concrete, cement, aggregates
(primarily crushed stone, sand and gravel) and asphalt and related
paving services. The Winchester family is the owner of Quikrete.

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


RAVI GI: Seeks Approval to Hire Petrocelli & Company as Accountant
------------------------------------------------------------------
Ravi GI Associates PA, LLP seeks approval from the U.S. Bankruptcy
Court for the Western District of Pennsylvania to employ Petrocelli
& Company as accountant.

The firm will provide these services:

   a. update and correct accounting records;

   b. assist in the preparation of the payroll;

   c. assist in maintaining financial records;

   d. provide financial statements and documents;

   e. assist in the preparation of Monthly Operating Reports;

   f. prepare the annual federal, state, and local tax returns;

   g. assist in preparing projections needed for this case; and

   h. provide other general accounting advice.

The firm will be paid at these rate of $2,500 per month, and $300
per hour for additional time.

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

Michael A. Petrocelli, a partner of Petrocelli & Company, disclosed
in a court filing that the firm is a "disinterested person" as the
term is defined in Section 101(14) of the Bankruptcy Code.

The firm can be reached at:

     Michael A. Petrocelli
     Petrocelli & Company
     3961 Monroeville Blvd
     Monroeville, PA 15146
     Tel: (412) 373-3373

              About Ravi GI Associates PA, LLP

Ravi GI Associates PA, LLP is operating as a healthcare provider in
Monroeville, Pa.

Ravi sought relief under Chapter 11 of the U.S. Bankruptcy Code
(Bankr. W.D. Pa. Case No. 25-20012) on January 3, 2025. In its
petition, the Debtor reported assets between $100,000 and $500,000
and liabilities between $1 million and $10 million.

Donald R. Calaiaro, Esq., at Calaiaro Valencik represents the
Debtor as legal counsel.


RAZEL & RUZTIN: PCO Reports Patient Care Complaints
---------------------------------------------------
Blanca Castro, the patient care ombudsman, filed with the U.S.
Bankruptcy Court for the Northern District of California a report
regarding the quality of patient care provided at Razel & Ruztin
LLC's assisted care living facility.

The report covers the period from November 5, 2024 to January 24,
2025.

The local Long-Term Care Ombudsman (LTCO) visited the facility on
November 25 and 26 and on December 4 and 27, 2024. During these
visits, they met with residents and staff, including supervisor
Marilou Labadan and Lynette Sandoval (Admissions and Marketing
Coordinator). The facility is licensed for 72 beds and had a census
of 51, with 30 residents in assisted living and 21 residents in the
memory care wing, at the time of last visit.  

The Ombudsman representative spoke with a bed-bound resident
requiring nail care. Another resident noted issues with receiving
routine baths.

The Ombudsman notes reported continued delayed responses to
requests for assistance, well over 20 minutes, in some cases. This
is understood to be related to inadequate staffing.

The Ombudsman received reports from residents stating that facility
staff are seen in residents' rooms when staff are not assigned to
the resident. This has contributed to concerns about missing
resident items; One male resident reported he had two new jackets
delivered and one of the jackets was missing the next day.

The State Ombudsman team recommends that the facility staff hold a
monthly meeting with residents and provide a forum for residents to
share their common concerns. The facility staff may want to
establish a process for submitting concerns, such as a locked
"suggestion box" and respond to residents in writing if the issue
can be resolved or if it cannot and why not.

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

The ombudsman may be reached at:

     Blanca Castro
     2880 Gateway Oaks Dr., Ste. 200
     Sacramento, CA 95833
     Telephone: (916) 928-2500
     Email: blanca.castro@aging.ca.gov

                       About Razel & Ruztin

Razel & Ruztin, LLC, doing business as Walnut Creek Willows, filed
its voluntary petition for relief under Chapter 11 of the
Bankruptcy Code (Bankr. N.D. Calif. Case No. 24-41003) on July 9,
2024, listing up to $50,000 in assets and up to $1 million in
liabilities. Judge Charles Novack presides over the case.

Arasto Farsad, Esq., at Farsad Law Office, P.C. serves as the
Debtor's bankruptcy counsel.

Blanca Castro is the patient care ombudsman appointed in the
Debtor's cases.


RED RIVER: US Govt. Agencies Object to J&J $9-Bil. Talc Settlement
------------------------------------------------------------------
Kevin Dunleavy of Fierce Pharma reports that Johnson & Johnson's
two previous attempts to settle around 60,000 talcum powder
lawsuits through bankruptcy proceedings have failed, as the company
was unable to demonstrate that the subsidiaries it created to
handle the claims were financially distressed.

As the company makes a third attempt through another Chapter 11
filing, the U.S. government has intervened, objecting to the
proposed $9 billion settlement, arguing that bankruptcy proceedings
are intended for companies in genuine financial distress, according
to the report.

On January 24, the Department of Health and Human Services (HHS)
and the Department of Veterans Affairs (VA) filed their objection
in the U.S. Bankruptcy Court for the Southern District of Texas.
The agencies contend that J&J's plan violates both the Bankruptcy
Code and federal law.

The objection also claims that the government would lose its right
to reimburse costs for care provided through federal health
programs like Medicare and Medicaid to individuals who would be
compensated by the settlement. The agencies referenced the Federal
Medical Care Recovery Act, which allows the U.S. government to
recover medical costs from a third party or its insurer when that
third party is liable.

J&J's litigation chief, Erik Haas, responded via email, expressing
confidence that the bankruptcy plan, which has substantial backing
from law firms and claimants, complies with the Bankruptcy Code's
requirements.

Meanwhile, attorneys for claimants who have not agreed to the
settlement urged Judge Christopher Lopez to reject the plan,
asserting their clients' right to pursue their cases independently.
These claimants, who allege J&J's baby powder caused their ovarian
cancer, are disputing the company's claim that more than 80% of the
involved parties have agreed to the settlement. The case is set for
a hearing next month.

Mr. Haas stated that the settlement plan is in the best interests
of the ovarian cancer claimants, calling it "one of the largest
settlements ever reached in a mass tort bankruptcy case." He
further emphasized that the plan exceeds the 75% approval threshold
required by the Bankruptcy Code and offers claimants a far better
recovery than they would likely achieve through trial.

This isn't the first time the government has challenged J&J's
bankruptcy effort. Three months ago, the U.S. Trustee program, a
Department of Justice unit overseeing bankruptcy cases, filed a
motion to dismiss the Chapter 11 filing, labeling the company's
strategy as "a textbook example of bad faith."

Over the four years of litigation, two groups of claimants have
emerged: those eager to accept a settlement and those holding out
in hopes of a large jury award, similar to the $2.1 billion won by
22 women from 12 states in 2018. Last 2024, an Illinois jury
ordered J&J to pay $45 million to the family of a woman who died
from mesothelioma.

Despite some losses, J&J has won the majority of cases that have
gone to trial, maintaining its stance that there is no conclusive
evidence that its talc products contained asbestos or caused
cancer.

In response to ongoing concerns, J&J removed its talcum powder
products from the market—first in North America in 2020, and
globally in 2023. The company now sells a cornstarch-based version
of its baby powder.

                 About J&J Talc Units

LLT Management, LLC (formerly known as LTL Management LLC) was a
subsidiary of Johnson & Johnson that was formed to manage and
defend thousands of talc-related claims and oversee the operations
of Royalty A&M. Royalty A&M owns a portfolio of royalty revenue
streams, including royalty revenue streams based on third-party
sales of LACTAID, MYLANTA/MYLICON and ROGAINE products.

LTL Management first filed a petition for Chapter 11 protection
(Bankr. W.D.N.C. Case No. 21-30589) on Oct. 14, 2021. The case was
transferred to New Jersey (Bankr. D.N.J. Case No. 21-30589) on Nov.
16, 2021. The Hon. Michael B. Kaplan is the case judge. At the time
of the filing, the Debtor was estimated to have $1 billion to $10
billion in both assets and liabilities.

In the 2021 case, LTL Management tapped Jones Day and Rayburn
Cooper & Durham, P.A., as bankruptcy counsel; King & Spalding, LLP
and Shook, Hardy & Bacon LLP as special counsel; McCarter &
English, LLP as litigation consultant; Bates White, LLC as
financial consultant; and AlixPartners, LLP as restructuring
advisor. Epiq Corporate Restructuring, LLC, served as the claims
agent.

On Dec. 24, 2021, the U.S. Trustee for Regions 3 and 9
reconstituted the talc claimants' committee and appointed two
separate committees: (i) the official committee of talc claimants
I, which represents ovarian cancer claimants, and (ii) the official
committee of talc claimants II, which represents mesothelioma
claimants.

The official committee of talc claimants I tapped Genova Burns LLC,
Brown Rudnick LLP, Otterbourg PC and Parkins Lee & Rubio LLP as its
legal counsel. Meanwhile, the official committee of talc claimants
II is represented by the law firms of Cooley LLP, Bailey Glasser
LLP, Waldrep Wall Babcock & Bailey PLLC, Massey & Gail LLP, and
Sherman Silverstein Kohl Rose & Podolsky P.A.

           Re-Filing of Chapter 11 Petition

On Jan. 30, 2023, a panel of the Third Circuit issued an opinion
directing this Court to dismiss the 2021 Chapter 11 Case on the
basis that it was not filed in good faith.  Although the Third
Circuit panel recognized that the Debtor "inherited massive
liabilities" and faced "thousands" of future claims, it concluded
that the Debtor was not in financial distress before the filing.

On March 22, 2023, the Third Circuit entered an order denying the
Debtor's petition for rehearing. The Third Circuit entered an order
denying LTL's stay motion on March 31, 2023, and, on the dame day,
issued its mandate directing the Bankruptcy Court to dismiss the
2021 Chapter 11 Case.

The Bankruptcy Court entered an order dismissing the 2021 Case on
April 4, 2023.

Johnson & Johnson on April 4, 2023, announced that its subsidiary
LTL Management LLC (LTL) has re-filed for voluntary Chapter 11
bankruptcy protection (Bankr. D.N.J. Case No. 23-12825) to obtain
approval of a reorganization plan that will equitably and
efficiently resolve all claims arising from cosmetic talc
litigation against the Company and its affiliates in North
America.

In the new filing, J&J said it has agreed to contribute up to a
present value of $8.9 billion, payable over 25 years, to resolve
all the current and future talc claims, which is an increase of
$6.9 billion over the $2 billion previously committed in connection
with LTL's initial bankruptcy filing in October 2021. LTL also has
secured commitments from over 60,000 current claimants to support a
global resolution on these terms.

In August 2023, U.S. Bankruptcy Judge Michael Kaplan in Trenton,
New Jersey, ruled that the second bankruptcy case should be
dismissed.

                    3rd Try

In May 2024, J&J announced its subsidiary LLT Management LLC is
soliciting support for a consensual prepackaged bankruptcy plan to
resolve its talc-related liabilities. Under the terms of the plan,
a trust would be funded with over $5.4 billion in the first three
years and more than $8 billion over the course of 25 years, which
J&J calculates to have a net present value of $6.475 billion.
Claimants must cast their vote to accept or reject the Plan by 4:00
p.m. (Central Time) on July 26, 2024. A solicitation package may be
requested at www.OfficialTalcClaims.com or by calling
1-888-431-4056. If the Plan is accepted by at least 75% of voters,
a bankruptcy may be filed under the case name In re: Red River Talc
LLC in a bankruptcy court in Texas or in the bankruptcy court of
another jurisdiction. Epiq Corporate Restructuring, LLC is serving
as balloting and solicitation agent for LLT.

On Sept. 20, 2024, Red River Talc LLC filed a Chapter 11 bankruptcy
petition (Bankr. S.D. Tex. Case No. 24-90505).

Porter Hedges LLP and Jones Day serve as counsel in the new Chapter
11 case. Epiq is the claims agent.

Paul Hastings LLP is counsel to the Ad Hoc Committee of Supporting
Counsel. Randi S. Ellis is the proposed prepetition legal
representative of future claimants.


ROOME ENTERPRISES: Court OKs Interim Use of Cash Collateral
-----------------------------------------------------------
The U.S. Bankruptcy Court for the District of Idaho issued an order
authorizing Roome Enterprises, Inc. to use cash collateral on an
interim basis.

The company needs to use cash collateral to pay its operating
expenses.

First Bank of the Lake and Kalamata Capital Group assert an
interest in the cash collateral.

As protection, both secured creditors will be granted liens on
post-petition cash collateral to the same extent and with the same
priority as their pre-bankruptcy liens.

A final hearing is scheduled for Feb. 5.

First Bank can be reached through its counsel:

     Sheila R. Schwager, Esq.
     Hawley Troxell Ennis & Hawley, LLP
     P.O. Box 1617
     Boise, ID 83701
     Phone: 208.344.6000
     Fax: 208.954.5261
     Email: sschwager@hawleytroxell.com

                    About Roome Enterprises

Roome Enterprises, Inc. provides construction, cleanup, disaster
restoration, janitorial, window washing, and related services, in
Northern Idaho and Eastern Washington under various ServiceMaster
franchise agreements.

Roome Enterprises sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Idaho Case No. 25-20010) on January 14,
2025, with up to $10 million in both assets and liabilities.
Adolphe R Roome, owner and president, signed the petition.

The Debtor is represented by:

    Matthew W Grimshaw
    Grimshaw Law Group, P.C.
    Tel: 208-391-7860
    Email: matt@grimshawlawgroup.com


ROTM LOFTS: Hires Tranzon Auction Properties as Auctioneer
----------------------------------------------------------
ROTM Lofts, LLC seeks approval from the U.S. Bankruptcy Court for
the District of Maine to employ Tranzon Auction Properties as
auctioneer.

The firm's services include:

     a. preparing appropriate materials for distribution to
potential purchasers, subject to a confidentiality agreement;

     b. identifying potential purchasers;

     c. engaging in discussions and negotiations with potential
purchasers;

     d. consulting with the Debtor and its other advisors on
matters pertaining to the sale of the Debtor’s Assets;

     e. furnishing the Debtor with information related to the sale
of the Debtor’s Assets from time to time as reasonably requested
by the Debtor;

     f. maintaining a data room for prospective buyers and
communicating with buyers throughout the sale process; and

     g. assisting the Debtor with executing the Bid Procedures,
including conducting the auction for the Assets should one be held
pursuant to the Bid Procedures.

The firm will be paid at these rates:

   (a) Commission/Auction Management Fee:

     i. If Accelerated Capital Partners, LLC ("ACP"), in its
capacity as the Stalking Horse Bidder, is the highest bidder with
its stalking horse bid of $3.90 million, Tranzon will be due an
auction management fee of $5,000.

     ii. If ACP is the highest bidder at a price above $3.90
million, Tranzon will be due an auction management fee of $20,000.

     iii. If the buyer is any party other than ACP, Tranzon will be
entitled to a commission equal to either 2.5% of the sale price of
the Assets or 3.5% of the sale price if the buyer is represented by
a broker.

   (b) Expenses. Tranzon will be entitled to reimbursement for
approved actual marketing and related expenses related to the sale,
totaling an estimated $3,800.

Michael Carey, a Co-Chief Executive Officer at Tranzon Auction
Properties, disclosed in a court filing that the firm is a
"disinterested person" as the term is defined in Section 101(14) of
the Bankruptcy Code.

The firm can be reached at:

     Michael Carey
     Tranzon Auction Properties
     257 Deering Avenue Suite 204
     Portland, ME 04103
     Telephone:(207) 776-1936
     Email: mcarey@tranzon.com

              About ROTM Lofts, LLC

The ROTM Lofts, LLC sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Maine Case No. 24-10257) on November 21,
2024. In the petition signed by Geoffrey Houghton, manager and
authorized party, the Debtor disclosed up to $10 million in both
assets and liabilities.

Judge Michael A. Fagone oversees the case.

The Debtor is represented by:

    Adam R. Prescott, Esq.
    Bernstein Shur Sawyer & Nelson, PA
    Tel: (207) 228-7145
    Email: aprescott@bernsteinshur.com



SAKS GLOBAL: S&P Assigns 'CCC+' ICR on Completed Acquisition
------------------------------------------------------------
S&P Global Ratings assigned its 'CCC+' issuer credit rating to
luxury retailer Saks Global Enterprises LLC. At the same time, S&P
assigned its 'B' issue-level rating and '1' recovery rating to the
company's $2.2 billion senior secured notes, reflecting its
expectations of very high (90%-100%; rounded estimate: 95%)
recovery in the event of default.

The stable outlook reflects S&P's view that the company will have
enough short-term liquidity to implement its turnaround initiatives
and invest in synergies while the operating environment remains
challenging due to soft consumer discretionary spending.

On Dec. 23, 2024, the luxury retailer Saks Global Enterprises LLC
completed the acquisition of NMG Parent LLC, the owner of Neiman
Marcus and Bergdorf Goodman, for a total enterprise value of $2.7
billion.

S&P said, "The ratings are in line with the preliminary ratings we
assigned on Dec. 9, 2024. On Dec. 23, 2024, Saks Global concluded
the acquisition of NMG Parent LLC financed by a new $1.8 billion
ABL facility, new $2.2 billion senior secured notes, and equity
contribution from new shareholders, which includes Amazon.com Inc.,
Salesforce.com. Inc., and Authentic Brands Group LLC. Saks Global
has also separated its Canadian business, which has recently been a
drag on the overall performance, from the new group. While the
outstanding debt is higher than we previously expected due to an
upsize of $200 million in the senior secured notes, we believe the
company's access to short-term liquidity to implement its
turnaround initiatives and execute the post-acquisition integration
supports our ratings. In our view, the company's new capital
structure is unsustainable because it is highly dependent on
favorable business, economic, and financial conditions, including
significant synergies from the proposed acquisition."



SAMYS OC: U.S. Trustee Unable to Appoint Committee
--------------------------------------------------
The U.S. Trustee for Region 20 disclosed in a court filing that no
official committee of unsecured creditors has been appointed in the
Chapter 11 cases of Samys OC, LLC and its affiliates, American
Warrior Construction, Inc. and S & O Investments, Inc.

                        About Samys OC

Samys OC, LLC and its affiliates, American Warrior Construction,
Inc. and S & O Investments, Inc., filed voluntary Chapter 11
petitions (Bankr. D. Kansas Lead Case No. 24-11166) on Nov. 14,
2024. At the time of the filing, Samys OC reported up to $50,000 in
assets and $10 million to $50 million in liabilities.

Judge Mitchell L. Herren preside over the cases.

Nicholas R. Grillot, Esq., at Hinkle Law Firm, LLC represents the
Debtors as bankruptcy counsel.


SCILEX HOLDING: Extends Oramed Note Maturity to Dec. 31
-------------------------------------------------------
Scilex Holding Company disclosed in a Form 8-K Report filed with
the U.S. Securities and Exchange Commission that on January 21,
2025, the Company entered into an amendment letter with Oramed
Pharmaceuticals Inc.

As previously disclosed, the Company issued a Senior Secured
Promissory Note, dated as of September 21, 2023, to Oramed.
Pursuant to the Oramed Note, the Company is required to repay the
entire remaining principal balance of the Oramed Note on the
Maturity Date, which as of the date hereof is defined as March 21,
2025.

Pursuant to the Oramed Amendment, among other things, Oramed agreed
to extend the Maturity Date under and as set forth in the Oramed
Note from the Existing Maturity Date to December 31, 2025. In
consideration of such extension, SCLX Stock Acquisition JV agreed
to deliver to Oramed by deposit/withdrawal at custodian with the
Depository Trust Company an aggregate of 3,250,000 shares of common
stock, par value $0.0001 per share, of the Company, held by SCLX
JV.

Additionally, the parties agreed to amend the definition of "Cash
Sweep Financing" in the Oramed Note to remove certain specific
exclusions of indebtedness previously present in such definition,
and further agreed that prior to Payment in Full of the First Out
Priority Obligations (each as defined in that certain Agreement
Among Holders, dated as of October 8, 2024, between Oramed and the
other holders of the Tranche B Notes), any prepayment required
pursuant to Section 2(g) of the Oramed Note may be waived in
Oramed's sole discretion and, in such case, Oramed shall have the
unilateral option to instead direct the Company to prepay the Last
Out Holders and apply such amount to either, in Oramed's sole
discretion:

     (A) the outstanding principal amount of that certain Tranche B
Senior Secured Convertible Note, dated as of October 8, 2024 held
by Oramed or
     (B) the outstanding principal amount of all of the Tranche B
Notes in accordance with each Last Out Holder's Last Out Pro Rata
Share at such time.

In addition, the parties agreed to add an additional covenant to
the Oramed Note, preventing any increase in compensation or
additional incentive equity awards to any officer, director or
member of senior management of the Company or the Company's
subsidiaries while the Oramed Note remains outstanding.

                    About Scilex Holding Company

Palo Alto, CA-based Scilex Holding Company -- www.scilexholding.com
-- is an innovative revenue-generating company focused on
acquiring, developing and commercializing non-opioid pain
management products for the treatment of acute and chronic pain
and, following the formation of its proposed joint venture with
IPMC Company, neurodegenerative and cardiometabolic disease. Scilex
targets indications with high unmet needs and large market
opportunities with non-opioid therapies for the treatment of
patients with acute and chronic pain and is dedicated to advancing
and improving patient outcomes.  Scilex's commercial products
include: (i) ZTlido (lidocaine topical system) 1.8%, a prescription
lidocaine topical product approved by the U.S. Food and Drug
Administration for the relief of neuropathic pain associated with
postherpetic neuralgia, which is a form of post-shingles nerve
pain; (ii) ELYXYB, a potential first-line treatment and the only
FDA-approved, ready-to-use oral solution for the acute treatment of
migraine, with or without aura, in adults; and (iii) Gloperba, the
first and only liquid oral version of the anti-gout medicine
colchicine indicated for the prophylaxis of painful gout flares in
adults.

San Diego, California-based Ernst & Young LLP, the Company's
auditor since 2020, issued a "going concern" qualification in its
report dated March 11, 2024, citing that the Company has negative
working capital, has suffered losses from operations, has recurring
negative cash flows from operations, and has stated that
substantial doubt exists about the Company's ability to continue as
a going concern.

As of Sept. 30, 2024, Scilex Holding Company had $100.43 million in
total assets, $311.75 million in total liabilities, and a total
stockholders' deficit of $211.32 million.


SEDALIA AESTHETICS: Unsecureds to Split $40K via Quarterly Payments
-------------------------------------------------------------------
Sedalia Aesthetics, LLC, filed with the U.S. Bankruptcy Court for
the Western District of Missouri a Plan of Reorganization for Small
Business dated January 22, 2025.

The Debtor's business involves the operation of three medical spas,
located in Sedalia, Jefferson City and Marshall, Missouri. The
Debtor began its business with the Sedalia location in April,
2018.

The business added the retail location in Marshall in 2020 and the
Jefferson City location in 2022. The business has always been owned
by Michelle Bassett. The Debtor owns the building where the
Marshall business is operated. Mrs. Bassett, along with her husband
Paul Bassett, own Bassett Holdings, LLC.

The need for Chapter 11 protection and reorganization emanated from
Mrs. Bassett's medical issues that caused her to be absent from the
business. She was introduced to an individual by a sales
representative who purported to be interested in buying the
business. Mrs. Bassett and Jerrod Mann. While they did not have a
written contract, the parties orally agreed that Mr. Mann would
take over the existing debt and pay Mrs. Bassett the sum of
$400,000.

Mr. Mann came into the building and told the employees that the
business could not survive and he then opened a competing business
by taking the Debtor's six employees. He also stole the Debtor's
business records such as patient and personnel files (including the
only copies of non-compete agreements), and customer list with over
6,000 customers, and also stole cash, medication (injectibles and
weight loss medication), and cell phones. Mr. Mann also reported to
the employees and the customers that the Debtor's business was
closed.

Class 13 consists of General Unsecured Claims. The Debtor will
distribute on a quarterly basis 180 days following Effective Date:
$40,000 with 20 quarterly payments of $2,000 each to be paid
prorate to the unsecured non-priority class (with the exception of
Paul Bassett, an insider).

If Debtor pursues action against Jerrod Mann (and others) and is
successful in recovering, Debtor shall pay unsecured creditors 40%
of the amount that Debtor recovers after attorneys' fees and
expenses. This Class is impaired.

Michelle Bassett holds no pre-petition claim. She will receive
compensation for her services of $700 per week (total of $36,400
per year).

The Debtor shall continue in possession of its assets and shall
continue the operation of its business. The Debtor shall be the
disbursing agent and shall make all distributions to creditors as
provided for in this Plan.

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

Marc Mueller as sole member of the Debtor immediately prior to the
Effective Date, shall continue to serve as the sole member of the
Reorganized Debtor on and after the Effective Date.

A full-text copy of the Plan of Reorganization dated January 22,
2025 is available at https://urlcurt.com/u?l=4nMWcs from
PacerMonitor.com at no charge.

Counsel to the Debtor:

     Erlene W. Krigel, Esq.
     Krigel Nugent + Moore, PC
     4520 Main Street, Suite 700
     Kansas City, MO 64111
     Tel: (816) 756-5800
     Fax: (816) 756-1999

                  About Sedalia Aesthetics

Sedalia Aesthetics, LLC, doing business as The Beauty Bar, The
Beauty Bar of Jefferson City, and The Beauty Bar of Marshall, is
the owner of a building located at 9 North Lafayette, Marshall,
Mo., valued at $110,000.

Sedalia Aesthetics sought relief under Subchapter V of Chapter 11
of the U.S. Bankruptcy Code (Bankr. W.D. Mo. Case No. 24-20453) on
Oct. 21, 2024, with total assets of $311,684 and total liabilities
of $3,017,192. Michelle Bassett, managing member, signed the
petition.

Judge Cynthia A. Norton oversees the case.

The Debtor is represented by Erlene W. Krigel, Esq., at Krigel
Nugent + Moore, P.C.


SOFT PACKAGING: Gets OK to Use Cash Collateral Until Feb. 28
------------------------------------------------------------
Soft Packaging, Inc. received interim approval from the U.S.
Bankruptcy Court for the Central District of California, Los
Angeles Division, to use cash collateral until Feb. 28.

The company requires the use of cash collateral to pay operating
expenses including payroll and insurance premiums.

Celtic Bank Corporation, Avion Funding, and an unknown entity
assert an interest in the cash collateral.

As protection for the use of their cash collateral, secured
creditors will be granted a replacement lien. In addition, Soft
Packaging will make monthly payments of $3,128 to Celtic Bank
starting next month.

Celtic Bank has a lien on all assets of Soft Packaging, which
appears to be fully secured based on the value of the company's
assets, as of the petition date. However, the holders of the second
and third UCCs appear to only be secured on the company's accounts
and account receivables. Soft Packaging intends to litigate Avion
Funding's claim based on various violations of California law.

If Avion Funding is an allowed claim and it maintains its security
interest, it will be adequately protected based on the continued
and uninterrupted operation of the business.

The next hearing is set for Feb. 25.

                     About Soft Packaging Inc.

Soft Packaging Inc. operates as a packaging company in Commerce,
Calif.

Soft Packaging filed Chapter 11 petition (Bankr. C.D. Calif. Case
No. 25-10214) on January 13, 2025. In its petition, the Debtor
reported assets up to $50,000 and liabilities between $1 million
and $10 million.

Judge Vincent P. Zurzolo handles the case.

The Debtor is represented by Matthew D. Resnik, Esq., at RHM Law
LLP, Encino, Calif.


SOUTHERN WAY: 45-Day Extension for Plan Filing Granted
------------------------------------------------------
Judge Selene D. Maddox of the U.S. Bankruptcy Court for the
Northern District of Mississippi has entered an order granting the
motion filed by Southern Way Trucking Company, LLC for a 45-day
extension of time to file a plan of reorganization.

As shared by Troubled Company Reporter, the Debtor claims that it
is required to file its plan of reorganization on or before January
21, 2025. The Debtor and its counsel have diligently attempted to
gather the information necessary to complete this document and file
it in a timely manner. However, because of the extent of the
information involved, and the intervening holidays, they have not
been able to do so.

In addition, the Debtor has incurred significant issues regarding
insurance and ability to obtain fuel that were not anticipated and
due to no fault of its own. Those issues make the filing of a plan
too speculative to submit. Dismissal may be a better exit.

Southern Way Trucking Company is represented by:

          Craig M. Geno, Esq.
          LAW OFFICES OF CRAIG M. GENO, PLLC
          587 Highland Colony Parkway
          Ridgeland, MS 39157
          Tel: 601-427-0048
          E-mail: cmgeno@cmgenolaw.com

               About Southern Way Trucking Company

Southern Way Trucking Company, LLC operates in the general freight
trucking industry. The company is based in Armory, Miss.

Southern Way Trucking Company sought relief under Subchapter V of
Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Miss. Case No.
24-13299) on October 21, 2024, with $100,000 to $500,000 in assets
and $1 million to $10 million in liabilities.  Phillip Lockhart,
managing member, signed the petition.

The Debtor is represented by Craig M. Geno, Esq., at the Law
Offices of Craig M. Geno, PLLC.


ST. JOHNS CLASSICAL: Moody's Rates 2025A/B Educational Bonds 'Ba2'
------------------------------------------------------------------
Moody's Ratings has assigned an initial Ba2 to St. Johns Classical
Academy, FL's $10.1 million Educational Facilities Revenue and
Revenue Refunding Bonds (St. Johns Classical Academy, Inc.
Project), Series 2025A and $11.7 million Taxable Educational
Facilities Revenue and Revenue Refunding Bonds (St. Johns Classical
Academy, Inc. Project), Series 2025B. The bonds will be issued
through Capital Trust Authority. Following the sale, the academy
will have approximately $38 million in debt outstanding. The
outlook is stable.

RATINGS RATIONALE

The Ba2 rating incorporates the school's scale of over $13 million
in total revenue and its strong academic performance, including the
designation of its established Fleming campus as "high performing."
The school's second campus in Orange Park is likely to continue to
experience enrollment growth over the next several years given the
area's strong demographic trends. Operating results have varied and
fiscal 2024 liquidity fell to a five year low of 92 days cash on
hand. Fiscal 2024 annual debt service coverage was a solid 1.58x
although fiscal 2024 MADS coverage was a narrow 1.05x . Fiscal 2025
liquidity is forecast to grow to close to 200 days cash on hand and
2025 pro forma maximum annual debt service is forecast at 1.55x.
With the addition of the current debt issuance, leverage will be
high with a cash to debt ratio of a narrow 8%.

Governance risk is a key driver to the rating. Ancora LLC, the
school's Education Management Organization, is currently in an
early start-up phase and is operated by the school's two founders,
which introduces key person and governance risk given Ancora's
significant role in management and a limited operating history. The
school also faces some dependency and reputational risk as it
relies on Hillsdale K-12 Education to provide its pedagogy, teacher
training, and support for the board, although at no additional
cost.

RATING OUTLOOK

The stable outlook reflects the likelihood that improving EBIDA
margins will stabilize and support consistent levels of liquidity
and debt service coverage.

FACTORS THAT COULD LEAD TO AN UPGRADE OF THE RATINGS

-- Improved student demand reflected in full enrollment of both
campuses and a strengthened waitlist

-- A sustainable trend of liquidity at or above 110 days cash on
hand

-- Consistent debt service coverage over 1.75x

-- Improving leverage metrics

FACTORS THAT COULD LEAD TO A DOWNGRADE OF THE RATINGS

-- Enrollment declines due to deterioration of academic
performance or other causes

-- Decline in cash position to below 75 days and debt service
coverage below 1.3x

-- Change in or end of relationship with Hillsdale K-12 Education,
which would increase operating costs

-- Increased debt without a commensurate increase in cash

LEGAL SECURITY

Debt service payments are secured by a loan agreement between
Capital Trust Authority and St. Johns Classical Academy. The issuer
assigns and makes payments from gross revenues to the Trustee for
the bondholders' benefit. Gross revenue is defined as all revenue
of the school, defined as any public school owned by St. Johns
Classical Academy. Final maturity of the bonds occurs in 2059.  

Bond covenants include a 110% minimum coverage test and additional
bonds test, a 45 days cash on hand liquidity test and a standard
three prong debt service reserve requirement. The majority
bondholder or the Trustee can accelerate bonds upon default. Bonds
are further secured by a mortgage interest in the financed
facilities.

USE OF PROCEEDS

Fleming Island bond proceeds will fund a gymnasium, classrooms,
weight room, locker rooms, offices, concession area, science labs,
and teacher resource rooms. Orange Park bond proceeds will fund
site acquisition and new portables for grade expansion.

PROFILE

St. Johns Classical Academy offers education services in classes
from kindergarten through grade twelve across two campus located in
Fleming Island and Orange Park, both in Clay County School
District, FL (A1). The Charter School is a public charter school
incorporated in 2016. Enrollment is 1,371 as of fall 2024. The
Fleming campus recently received a 15-year charter renewal through
2037 and the Orange Park campus is in its first 5-year charter that
expires in 2028.

METHODOLOGY

The principal methodology used in these ratings was US Charter
Schools published in April 2024.


STEWARD HEALTH: PCO Reports No Change in Patient Care
-----------------------------------------------------
Suzanne Koenig, the patient care ombudsman, filed with the U.S.
Bankruptcy Court for the Southern District of Texas her fourth
report regarding the quality of patient care provided at Sharon
Regional Medical Center (SRMC), operated by Steward Health Care
System, LLC and affiliates.

The fourth report covers the period from December 19, 2024, to
January 5, 2025.

The Ombudsman notes that given that SRMC closed and then was sold
to the new operator, Tenor Health Foundation Sharon, LLC, the
fourth report is her final report and based on the terms of her
appointment, she considers her appointment as Ombudsman completed
with the filing of the report.

The Ombudsman is pleased that, despite the current closure, SRMC
was sold and will open at a later date. With the planned reopening,
SRMC will continue to provide critical emergency services that only
SRMC offered in Mercer County, Pennsylvania and its surrounding
communities.

SRMC ceased operations on January 5. The Ombudsman visited SRMC
during this Report Period to ensure that the closure process was in
furtherance of patient care and safety. A physician staffing issue
in the emergency department was resolved quickly and was resolved
well in advance of the anticipated problem. Otherwise, staffing and
supplies were appropriate at all times.

The Ombudsman commends the staff at SRMC for their dedication to
the patients and the community in what was a difficult, emotional
process as SRMC closed its doors on January 5, 2025. Patient care
and safety were always at the forefront during the closure of SRMC.


The Ombudsman asserts that she had made her best efforts, within
the time constraints, to conduct a comprehensive investigation of
the quality of patient care at SRMC. Over this Reporting Period,
the Ombudsman has continued to receive and respond to calls from
former patients of the Debtors' hospitals who were having
difficulty accessing their medical records.

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

        About Steward Health Care

Steward Health Care System, LLC owns and operates the largest
private physician-owned for-profit healthcare network in the U.S.
Headquartered in Dallas, Texas, Steward's operations include 31
hospitals in eight states, approximately 400 facility locations,
4,500 primary and specialty care physicians, 3,600 staffed beds,
and nearly 30,000 employees. Steward Health Care provides care to
more than two million patients annually.

Steward and 166 affiliated debtors filed Chapter 11 petitions
(Bankr. S.D. Texas Lead Case No. 24-90213) on May 6, 2024. Judge
Christopher M. Lopez oversees the proceeding.

The Debtors tapped Weil, Gotshal & Manges, LLP as bankruptcy
counsel; McDermott Will & Emery as special corporate and regulatory
counsel; AlixPartners, LLP as financial advisor and John Castellano
of AlixPartners as chief restructuring officer. Lazard Freres & Co.
LLC, Leerink Partners LLC, and Cain Brothers, a division of KeyBanc
Capital Markets Inc., provide investment banking services to the
Debtors.  Kroll is the claims agent.

Suzanne Koenig is the court-appointed patient care ombudsman for
the Debtors' hospitals and facilities in Massachusetts, Ohio,
Pennsylvania and Miami-Dade Florida.


SUN TECH AIR: Seeks Cash Collateral Access Until Feb. 28
--------------------------------------------------------
Sun Tech Air Conditioning, LLC asked the U.S. Bankruptcy Court for
the District of Arizona for authority to use cash collateral
through Feb. 28 to pay the expenses identified in its monthly
budget.

The Debtor projects $50,000 in total revenue and $50,265 in total
expenses for January.

A copy of the budget is available at https://urlcurt.com/u?l=4TWvrT
from PacerMonitor.com.

                         About Sun Tech
Air

Sun Tech Air Conditioning, LLC sought protection under Chapter 11
of the U.S. Bankruptcy Code (Bankr. D. Ariz. Case No. 24-05449) on
July 7, 2024, listing up to $50,000 in assets and up to $1 million
in liabilities.

Judge Madeleine C. Wanslee oversees the case.

Ronald J. Ellett, Esq., at Ellett Law Offices, P.C. represents the
Debtor as legal counsel.



SUPERSTAR ELIZABETH: Claims to be Paid From Rental Income
---------------------------------------------------------
Superstar Elizabeth LLC filed with the U.S. Bankruptcy Court for
the District of Columbia a Disclosure Statement describing Amended
Plan of Reorganization dated January 22, 2025.

Superstar Elizabeth LLC is a District of Columbia limited liability
company, and the sole and managing member of the Debtor is Daniel
Lledó, who has owned the Debtor since approximately 2019.

The Debtor is a Single Asset Real Estate entity that owns and
operates the improved commercial real property known as and located
at 2404 Wisconsin Avenue NW, Washington, D.C. 20011 (the "Real
Property"). The Real Property consists of approximately 0.043 acres
of land on which sits a two-story building with approximately 3,886
square feet usable space.

The Real Property is presently developed for use as a restaurant
and, in fact, is leased to Wine Investment Group, LLC, which
currently operates a dual-concept restaurant venture. Daniel Lledó
has a controlling interest in Wine Investment Group, LLC. The
Debtor's income is comprised of rental income from Wine Investment
Group, LLC.

The Debtor filed an Amended Chapter 11 Plan of Reorganization,
which provides for the payment of administrative expenses, priority
claims, and secured claims as outlined therein, either in cash, in
deferred cash payments, or in new security interests. Funds for
implementation of the Plan will be derived from (a) ongoing rents,
(b) collection of pre-petition rents receivable, (c) a refinance
loan, and (d) potential new cash infusions as necessary.

Class F Claims shall consist of any Allowed Non-Priority Unsecured
Claims against the Debtor. At this time, no proofs of claim have
been filed, and no claims are anticipated. Should any such Claim(s)
be asserted, said Claim(s) shall be paid in full as of the
Effective Date. This class is an unimpaired.

Class G shall consist of all Interests in the Debtor. Daniel Lledo
holds a one hundred percent membership interest in Debtor. Class F
Claimants will retain their Interests in the Debtor. This class in
unimpaired.

The Debtor shall fund the implementation of this Plan from the
following sources: (a) ongoing rents received from the commercial
tenant; (b) collection of pre-petition accounts receivable; (c) a
refinance of the Class B Claim; and (d) new cash infusion.

The Debtor's primary source of revenue is from commercial rent
received from its Tenant. Pursuant to the commercial Lease
Agreement dated March 1, 2020 by and between the Debtor and the
Tenant, the monthly rent is $23,000.00 per month.

As of the Petition Date, the Debtor had Pre-Petition Accounts
Receivable consisting of pre-petition past due rent of
approximately $116,698.62. The Debtor and Tenant have agreed to
repayment of the Pre-Petition Accounts Receivable at a rate of
$25,000.00 per month, commencing February 1, 2025 and continuing
until satisfied.

A full-text copy of the Disclosure Statement dated January 22, 2025
is available at https://urlcurt.com/u?l=pmXBXh from
PacerMonitor.com at no charge.

The Debtor's Counsel:

                  Michael A. Ostroff, Esq.
                  MONTERO LAW GROUP, LLC
                  1738 Elton Road, Ste 105
                  Silver Spring, MD 20903
                  Tel: 301-588-8100
                  Fax: 301-588-8101

                   About Superstar Elizabeth

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

Superstar Elizabeth sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. D.C. Case No. 24-00253) on July 17,
2024, with $1 million to $10 million in both assets and
liabilities. Daniel Lledo, managing member, signed the petition.

Judge Elizabeth L. Gunn oversees the case.

The Debtor is represented by Michael A. Ostroff, Esq., at Montero
Law Group, LLC.


SURVWEST LLC: Plan Exclusivity Period Extended to May 3
-------------------------------------------------------
Judge Thomas B. McNamara of the U.S. Bankruptcy Court for the
District of Colorado extended SurvWest LLC's exclusive periods to
file a plan of reorganization and obtain acceptance thereof to May
3 and July 2, 2025, respectively.

As shared by Troubled Company Reporter, the Debtor filed its Plan
within the 120-day period and therefore maintains the exclusive
right to propose a plan and shall maintain such right until the
Plan is confirmed, provided the Plan is confirmed within 180 days
after the Petition Date or as extended.

Here, several factors favor granting the requested extension.
First, good faith progress has been made towards reorganization, as
evidenced by the filing of the Plan within the initial 120-day
exclusivity window, the resolution of cash collateral disputes with
senior secured lenders the United States Small Business
Administration and TBK Bank, SSB, and the rejection of two office
leases in Texas.

Second, the filed Plan is a viable reorganization plan that
addresses pre-petition claims while also providing a path forward
for continued operations. Third, the Debtor is paying its bills as
they come due, timely filing its monthly operating reports, and
operating in compliance with its approved DIP financing agreement.

Fourth, this is the first extension request. Fifth, there are
complexities to this case, primarily involving the validity,
priority and extent of liens asserted by the aforementioned senior
lenders as well as several other creditors. Sixth, the Debtor is
not seeking an extension to pressure creditors.

SurvWest LLC, is represented by:

     David V. Wadsworth, Esq.
     Wadsworth Garber Warner Conrardy, PC
     2580 West Main Street, Suite 200
     Littleton, CL 80120
     Telephone: (303) 296-1999
     Facsimile: (303) 296-7600
     Email: dwadsworth@wgwc-law.com

                       About SurvWest LLC

SurvWest LLC, formerly known as SurvTech Solutions LLC, is a
diversified engineering firm specializing in surveying and mapping;
subsurface utility engineering (SUE); and utility coordination for
clients across the United States.

SurvWest filed a Chapter 11 petition (Bankr. D. Colo. Case No.
24-15214) on September 6, 2024, with total assets of $7,301,456 and
total liabilities of $9,447,402. Mathew Barr, president, signed the
petition.

Judge Thomas B. Mcnamara handles the case.

The Debtor is represented by David Wadsworth, Esq., at Wadsworth
Garber Warner Conrardy, P.C.


TBB DEEP: Gets Interim OK to Use Cash Collateral Until Feb. 5
-------------------------------------------------------------
TBB Deep Ellum, LLC got the green light from the U.S. Bankruptcy
Court for the District of Texas, Dallas Division, to use the cash
collateral of Spectra Bank to pay its operating expenses.

The interim order signed by Judge Michelle Larson authorized the
company to utilize its lender's cash collateral for the period from
Jan. 21 to Feb. 5.

Spectra Bank will be granted a replacement lien on cash and cash
collateral, which TBB acquires or generates as of the petition
date, and on all assets of the company but solely to the same
extent and priority as existed prepetition.

Spectra Bank has a lien on TBB's inventory and equipment. But
because TBB operates a restaurant, the majority of the company's
revenue is derived from services on which Spectra Bank does not
have a lien.

The company's inventory on hand is valued at $15,992. Separately,
the company had $4,578 in the bank, $596 in the safe, and $300 in
the register on the petition date. It is TBB's position that its
cash is unperfected cash collateral.

The next hearing is scheduled for Feb. 5.

Spectra Bank is represented by its counsel:

     Jack M. Kuykendall, Esq.
     Law Offices of Jack M. Kuykendall
     5048 Tennyson Parkway, Suite 250
     Addison, TX 75001
     Phone: 972-989-7140
     Fax: 972-200-9933
     Email: jmkesq@jmklaw.net

                        About TBB Deep Ellum

TBB Deep Ellum, LLC operates as The Biscuit Bar and provides
counter-service dining featuring biscuit sandwiches and full-bar
service. The company operates from its location at 2550 Pacific Ave
in Dallas's Deep Ellum neighborhood.

TBB Deep Ellum sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Tex. Case No. 25-30207) on January 21,
2025. In its petition, the Debtor reported estimated assets between
$50,000 and $100,000 and estimated liabilities between $1 million
and $10 million.

Judge Michelle V. Larson handles the case.

The Debtor's counsel is Thomas Berghman, Esq., at Munsch Hardt Kopf
& Harr, P.C., in Dallas, Texas.


TD&H INC: Unsecured Creditors Will Get 25% Dividend in Plan
-----------------------------------------------------------
TD&H, Inc., submitted a Second Amended Plan of Reorganization for
Small Business dated January 21, 2025.

The total accounts receivable as of Jan. 21, 2025 is approximately
$22,500.00 ("AR"). The Debtor believes all AR is collectable. The
Debtor's bank account, as of January 21, 2025, totals approximately
$68,313.62. The Debtor's current FedEx contract has a value of
$40,000.00.

The Debtor asserts that it has a claim against Mr. High in the
amount of approximately $785,000.00. Mr. High obtained two merchant
capital loans in the combined amount of $436,201.00 in December
2022 and withdrew $419,600.00 for his own personal benefit. Mr.
High deposited his personal funds into the Debtor's accounts to
cover payments to the MCAs until he no longer had the financial
ability to do so. Mr. High took out several other MCAs in order to
cover the initial MCA loans. The remaining balances owed to the
MCAs totals approximately $297,000.00.

Mr. High used said funds to assist with the purchase of a wedding
venue that is now owned by an LLC, of which Mr. High and his wife
are the sole member-managers. The wedding venue property is
currently listed for sale for a list price of $600,000.00. There is
a lien encumbering the property with an approximate balance of
$250,000.00. The Trustee has assisted to facilitate an agreement
with Mr. High to settle the claims between the Debtor and Mr. High,
the terms of which are being finalized.

It is anticipated that the net funds of the sale of the wedding
venue that will be paid to the Debtor will be approximately
$250,000.00. It should be noted that Mr. High has provided to the
Trustee with a personal financial statement which indicates that,
but for the wedding venue property, Mr. High is judgment proof.

The Plan reflects the Debtor's attempt to achieve a consensual plan
of reorganization. The Debtor projects that the Plan will achieve a
25% dividend to general unsecured creditors based on the
liquidation value of the estate and the Debtor's disposable
income.

The Plan shall be funded by cash flow from future operations and
the recovery on the claim against Mr. High.

Class 15 consists of General Unsecured Claims. The Debtor
anticipates that the Allowed Claims of Class 15 General Unsecured
Claims will total approximately $721,486.63, which includes the
general unsecured claims of Truist, Vox, Knightsbridge, LG,
Pinnacle and First Citizens. Based on the liquidation value of the
estate, the Debtor proposes to pay $6,000.00 to the Class 11
General Unsecured Claims.

The Debtor is required to pay to general unsecured claimants its
Disposable Income for no less than 3 years from the date that the
first distribution is due under the Plan. The Debtor's Disposable
Income will rely heavily on the recovery from the claims against
Mr. High.  Assuming a $250,000 recovery, Exhibit B demonstrates
that all but $175,000 of the recovery and income is reasonable
necessary to be expended for the payment of expenditures necessary
for the continuation, preservation, and operation of the Debtor's
business operations.

In addition, Class 11 General Unsecured Claims shall receive any
and all funds recovered from any Sections 547 and 548 actions, less
the costs of recovery and shall be distributed on a pro rata basis
to Class 15 General Unsecured Claims within 20 days of receipt of
said funds.

The Debtor will fund payments under the Plan from continued
business operations. Payments to general unsecured creditors will
be made from funds from Mr. High, after the costs of administration
associated with the recovery are paid.

A full-text copy of the Second Amended Plan dated Jan. 21, 2025 is
available at https://urlcurt.com/u?l=1UTy8x from PacerMonitor.com
at no charge.

Counsel to the Debtor:

     Samantha K. Brumbaugh, Esq.
     McClellan, Siegmund, Brumbaugh
     & McDonough, LLP
     PO Box 3324
     Greensboro, NC 27402
     Tel: (336) 274-4658
     Email: skb@iveymcclellan.com

                        About TD&H Inc.

TD&H, Inc. filed its voluntary petition for relief under Chapter 11
of the Bankruptcy Code (Bankr. M.D.N.C. Case No. 24-10392) on June
25, 2024, listing $652,317 in assets and $2,207,775 in liabilities.
The petition was signed by Huntly Nero, president.

Judge Benjamin A. Kahn presides over the case.

Samantha K. Brumbaugh, Esq. at Ivey, Mcclellan, Siegmund, Brumbaugh
& Mcdonough, LLP, is the Debtor's legal counsel.


TUPPERWARE BRANDS: Lenders Object to Retiree Panel Creation
-----------------------------------------------------------
Angelica Serrano-Roman of Bloomberg Law reports that the lenders of
Tupperware Brands Corp. have opposed the company's request to
establish an official retiree committee, calling it "unnecessary"
since most of the company's assets have already been sold during
bankruptcy proceedings.

In a filing with the U.S. Bankruptcy Court for the District of
Delaware, lenders -- including Bank of America -- urged the court
to reject Tupperware's request, arguing that there are
"insufficient funds" to cover legal fees and that the added
expenses would offer "no meaningful benefit" to stakeholders.

              About Tupperware Brands

Tupperware Brands Corporation (NYSE: TUP) --
https://www.tupperwarebrands.com/ -- is a global consumer products
company that designs innovative, functional, and environmentally
responsible products. Founded in 1946, Tupperware's signature
container created the modern food storage category that
revolutionized the way the world stores, serves, and prepares food.
Today, this iconic brand has more than 8,500 functional design and
utility patents for solution-oriented kitchen and home products.

The company distributes its products into nearly 70 countries,
primarily through independent representatives around the world.

Tupperware Brands sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Del. Case No. 24-12166) on Sept. 17,
2024. In the bankruptcy petition, Tupperware reported more than
$1.2 billion in total debts and $679.5 million in total assets.

Kirkland & Ellis LLP is serving as legal advisor to Tupperware,
Moelis & Company LLC is serving as the Company's investment banker,
and Alvarez & Marsal is serving as the Company's financial and
restructuring advisor. Epiq is the claims agent and has put up the
page https://dm.epiq11.com/Tupperware


TWENTY EIGHT: Files Chapter 11 Petition in New Hampshire
--------------------------------------------------------
On January 27, 2025, Twenty Eight Hundred Lafayette Inc. filed a
Chapter 11 petition in the U.S. Bankruptcy Court for New
Hampshire.

According to court filing, the Debtor reports between $1 million
and $10 million in debt owed to 1 and 49 creditors. The petition
states funds will be available to unsecured creditors.

           About Twenty Eight Hundred Lafayette Inc.

Twenty Eight Hundred Lafayette Inc., doing business as The Beach
Plum 2 Portsmouth and The Beach Plum 3 Epping, established in 1992,
is a seafood restaurant with locations in Epping, Portsmouth,
Salem, and North Hampton (seasonal), all in New Hampshire, offering
both indoor and outdoor seating.  Its menu features lobster rolls,
fried seafood, chowders, wraps, burgers, and 78 flavors of ice
cream.

Twenty Eight Hundred Lafayette, Inc. sought relief under Chapter 11
of the U.S. Bankruptcy Code (Bankr. D.N.H. Case No.: 25-10046) on
January 27, 2025. In its petition, the Debtor reports estimated
assets between $50,000 and $100,000 and estimated liabilities
between $1 million and $10 million.

Honorable Bankruptcy Judge Kimberly Bacher handles the case.

The Debtor is represented by:

     Eleanor Wm. Dahar, Esq.
     VICTOR W. DAHAR PROFESSIONAL ASSOCIATION
     20 Merrimack Street
     Manchester, NH 03101
     Tel: (603) 622-6595
     Fax: (603) 647-8054
     E-mail: vdaharpa@att.net


TWIN FALLS: Seeks to Use Additional $197,715 in Cash Collateral
---------------------------------------------------------------
Twin Falls Oil Service, LLC filed a supplemental motion with the
U.S. Bankruptcy Court for the District of North Dakota seeking
authority to use cash collateral.

The Debtor requires the use of cash collateral in order to timely
pay the Internal Revenue Service fourth quarter payroll taxes and
to pay the retainer of its proposed financial advisor, Bridger
Consulting, LLC. These amounts were inadvertently omitted from the
Debtor's original budget, but the Debtor has an immediate need to
pay such amounts.

Specifically, the Debtor seeks to use an additional $197,715 in
cash collateral during the same cash collateral period to pay
quarterly payroll taxes and a retainer for the Debtor's financial
advisor.

First International Bank & Trust, Samson MCA LLC, Quick Bridge
Funding, LLC, the IRS, and C T Corporation System may assert a
security interest in the Debtor's cash collateral.

As adequate protection, the Debtor proposed to grant the
Prepetition Lenders replacement liens in their respective
collateral to the extent of cash collateral used, maintain all
insurance, and operate so as to preserve the value of the property
of the estate.

First International Bank & Trust is represented by:

     Eli J. Patten, Esq.
     Crowley Fleck PLLP
     P.O. Box 2529
     Billings, Montana 59103-2529
     Email: epatten@crowleyfleck.com

              About Twin Falls Oil Service, LLC

Twin Falls Oil Service, LLC, a company in Killdeer, N.D., offers
crude oil hauling, water hauling, aggregate hauling, hydrovac winch
services and OTR hauling.

Twin Falls sought relief under Chapter 11 of the U.S. Bankruptcy
Code (Bankr. N.D. Case No. 24-30525 on December 11, 2024, with up
to $50,000 in assets and up to $10 million in liabilities. Jeffery
L. Jacobson, president of Twin Falls, signed the petition.

The Debtor is represented by Steven R. Kinsella, Esq., at
Fredrikson & Byron, P.A.


U.S. CREDIT: Updates Unsecured Claims; Files Amended Plan
---------------------------------------------------------
Stephen Darr, in his capacity as chapter 11 trustee for U.S.
Credit, Inc. ("USCI"), submitted a Modified Second Amended Chapter
11 Plan of Liquidation dated January 22, 2025.

The Plan provides for the following:

     * The Trustee shall establish a Liquidating Trust, pursuant to
a Liquidating Trust Agreement, to administer the Assets, distribute
funds to Holders of Allowed Claims, and pursue appropriate Claims
and Causes of Action through one or more adversary proceedings. The
Trustee shall serve as Liquidating Trustee;

     * As to the Owned Portfolios that have not been sold prior to
the Effective Date of the Plan, the Liquidating Trustee shall
market and sell the Owned Portfolios. Any executory contracts by
and between the Debtor and any subservicers that are related to the
Owned Portfolios that have not been sold prior to the Effective
Date shall be rejected as of the later of (i) the Effective Date,
and (ii) the date the Owned Portfolios are sold. The proceeds of
the respective sales will be distributed, first, to Holders of
Allowed Secured Claims (if any), second, to any third party that
can demonstrate an equitable ownership interest in such proceeds
and, third, to the Estate for Distribution to creditors; and

     * As to the Residual Interest Portfolios, the Liquidating
Trustee shall cease acting as master servicer of such portfolios
upon the Effective Date of the Plan. The Servicing Fee collected by
the Trustee prior to the Effective Date shall be retained by the
Trustee. Except as otherwise described herein, in the Confirmation
Order, or agreed to with certain Financial Institutions, the
Residual Interest collected by the Trustee prior to Effective Date
is property of the Estate. The Trustee shall cease acting as master
servicer with respect to the Connexus Portfolios consistent with
the Connexus Settlement Agreement.

     * The Trustee has reached a comprehensive settlement with
Connexus that is memorialized in the Connexus Settlement Agreement,
and implements an accord and satisfaction with respect to the
Connexus Collections and the Connexus Residual Interest, while
terminating the Debtor's servicing rights and obligations with
respect to the Connexus Portfolios.

     * The Trustee preliminarily estimates that the Allowed amount
of Class 15 General Unsecured Claims will be in the range of $50
million to $120 million. The Trustee anticipates (when accounting
for variance in the amount of cash generated or retained by the
Estate on account of Residual Interest, Avoidance Actions, and
other factors, and the variance in the likely amount of Allowed
General Unsecured Claims) an approximate 5% to 25% recovery for
General Unsecured Creditors. The recovery for Holders of Allowed
Class 15 General Unsecured Claims could be as high as 45% in the
event that any current or future disputes and/or litigation,
including the F&P Complaint, are resolved in a timely and
cost-efficient manner. Given current projections, the Trustee does
not believe this is a likely scenario and anticipates that the
Estate will incur substantial costs defending against such
litigation, reducing available recovery for Holders of Allowed
Class 15 General Unsecured Claims to the projected 5 25% range.

Class 15 consists of those Allowed General Unsecured Claims other
than the Allowed Priority Claims, Allowed Priority Tax Claims,
Allowed Administrative Convenience Claims, and Allowed Claims in
Classes 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, or 14. The Trustee
preliminarily estimates that the Allowed amount of Class 15 General
Unsecured Claims will be in the range of $50 million to $120
million. Based on the Liquidation Analysis attached to the
Disclosure Statement, the Trustee anticipates (when accounting for
variance in the amount of cash generated or retained by the Estate
on account of Residual Interest, Avoidance Actions, and other
factors, and the variance in the likely amount of Allowed General
Unsecured Claims) an approximate 5% to 25% recovery for General
Unsecured Creditors.

The recovery for Holders of Allowed Class 15 General Unsecured
Claims could be as high as 45% in the event that any current or
future disputes and/or litigation, including the F&P, are resolved
in a timely and cost-efficient manner. Given current projections,
the Trustee does not believe this is a likely scenario and
anticipates that the Estate will incur substantial costs defending
against such litigation, reducing available recovery for Holders of
Allowed Class 15 General Unsecured Claims to the 5 to 25% range
that is currently projected.

In full and complete satisfaction, settlement, and release of their
respective Allowed General Unsecured Claims, each Holder of an
Allowed General Unsecured Claim shall receive, in one or more
interim Distributions, from the Liquidating Trustee on the Plan
Distribution Date its Pro Rata share of the Liquidating Trust
Assets as a Liquidating Trust Beneficiary, entitling such Holder to
receive proceeds on account of such beneficial interest. Class 15
consists of the Allowed General Unsecured Claims.

Upon the Effective Date, the Liquidating Trust shall be
established, and the Liquidating Trustee shall be appointed. The
Liquidating Trustee shall be deemed to be the duly appointed
representative of the Estate pursuant to Section 1123(b)(3)(B) of
the Bankruptcy Code with respect to the Liquidating Trust Assets
including, without limitation, the Causes of Action. The
Liquidating Trustee shall be responsible for, among other things,
(i) resolving Disputed Claims, (ii) pursuing, litigating, and/or
settling Causes of Action and the Residual Interest Litigation (if
any), and (iii) distributing funds to the Liquidating Trust
Beneficiaries. The Liquidating Trust shall be governed by the
Liquidating Trust Agreement.

The Trustee submits that the Plan is feasible because the Trustee
will have sufficient Cash from the sale of the Owned Portfolios and
retention of Residual Interest to pay in full projected Allowed
Secured Claims, Allowed Administrative Expense Claims, Allowed
Priority Claims, and Allowed Priority Tax Claims and to establish
the Disputed Claim Reserve and a reserve for the wind down of the
Debtor.

A full-text copy of the Modified Second Amended Liquidating Plan
dated January 22, 2025 is available at
https://urlcurt.com/u?l=Xnkabq from PacerMonitor.com at no charge.


Counsel to Stephen Darr:

     CHOATE, HALL & STEWART LLP
     Douglas R. Gooding, Esq.
     Jonathan D. Marshall, Esq.
     Jacob S. Lang, Esq.
     Two International Place
     Boston, MA 02110
     Telephone: (617) 248-5000
     Email: dgooding@choate.com
            jmarshall@choate.com
            jslang@choate.com

                     About U.S. Credit, Inc.

U.S. Credit, Inc., develops and administers custom lending programs
for large retailers, point-of-sale platforms and educational
institutions.

U.S. Credit filed a Chapter 11 petition (Bankr. D. Mass. Case No.
24-10058) on Jan. 12, 2024.  In the petition signed by its chief
executive officer Stephen Galvin, the Debtor reported $10 million
to $50 million in both assets and liabilities.

Judge Janet E. Bostwick presides over the case.

The Debtor tapped Charles R. Bennett, Jr., Esq. at Murphy & King,
PC as legal counsel and Mid-Market Management Group as financial
advisor. The U.S. Trustee for Region 1 appointed an official
committee of unsecured creditors in this Chapter 11 case. The
committee tapped Dentons Bingham Greenebaum, LLP as its legal
counsel.


UNITED HAULING: Seeks Chapter 11 Protection in Arizona
------------------------------------------------------
On January 28, 2025, United Hauling LLC sought Chapter 11
protection in the U.S. Bankruptcy Court for the District of
Arizona.

According to court filing, the Debtor reports between $1 million
and $10 million in debt owed to 1 and 49 creditors. The petition
states funds will be available to unsecured creditors.

           About United Hauling LLC

United Hauling LLC offers reliable, safe, and punctual local and
long-distance equine transport.

United Hauling LLC sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Ariz. Case No. 25-00718) on January 28,
2025. In its petition, the Debtor reports estimated assets and
liabilities between $1 million and $10 million.

The Debtor is represented by:

     M. Preston Gardner, Esq.
     DAVIS MILES MCGUIRE GARDNER, PLLC
     999 Playa del Norte, Suite 510
     Tempe, AZ 85288
     Tel: (480) 733-6800
     Fax: (480) 733-3748
     E-mail: azbankruptcy@davismiles.com


VALLEY PARK: Seeks Chapter 11 Protection in Mississippi
-------------------------------------------------------
On January 29, 2025, Valley Park Elevator Inc. filed Chapter 11
protection in the U.S. Bankruptcy Court for the Southern District
of Mississippi.

According to court filing, the Debtor reports between $1 million
and $10 million in debt owed to 1 and 49 creditors. The petition
states funds will be available to unsecured creditors.

           About Valley Park Elevator Inc.

Valley Park Elevator Inc. -- https://www.valleyparkelevator.com/ --
is a family owned hardware and garden store, providing a wide range
of products for all your home improvement needs.

Valley Park Elevator Inc. sought relief under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. S.D. Miss. Case No. 25-00228) on
January 29, 2025. In its petition, the Debtor reports estimated
assets between $10 million and $50 million and estimated
liabilities between $1 million and $10 million.

Honorable Bankruptcy Judge Jamie A. Wilson handles the case.

The Debtor is represented by:

     Thomas C. Rollins, Jr., Esq.
     THE ROLLINS LAW FIRM, PLLC
     P.O. Box 13767
     Jackson, MS 39236
     Tel: 601-500-5533
     E-mail: trollins@therollinsfirm.com


VIA MIZNER: Files Emergency Bid to Use Cash Collateral
------------------------------------------------------
Via Mizner Owner I, LLC asked the U.S. Bankruptcy Court for the
Southern District of Florida, West Palm Beach Division, for
authority to use cash collateral.

The Debtor requires the use of cash collateral to fund the
necessary operating expenses of its business, in accordance with
the budget, with a 10% variance.

Parlex 15 Finco, LLC – Series XIII, a series of Parlex 15 Finco,
LLC is the administrative agent for a loan in the principal amount
of $195 million with a current balance of approximately $200
million, secured by all of the Debtor's assets. Parlex 3 Finance,
LLC made the loan and filed a UCC-1 financing statement in
Delaware.

Blackstone later acquired the loan, and Parlex 3 Finance filed a
UCC-3 amendment to reflect the assignment of the security
interests. RICP V Holdings, LLC, then acquired a $50 million
portion of the Secured Loan, and Blackstone amended its UCC filing
to reflect its status as administrative agent for the Secured
Creditors. The Secured Loan is additionally perfected by a
mortgage, assignment of leases of rents, and fixture filing
recorded in Palm Beach County. The Secured Creditors' interest in
the Debtor's cash is also perfected by a deposit account control
agreement.

The adequate protection to be provided to the Secured Creditors
includes (a) the Debtor's positive cash flow position, (b) the
equity cushion in the Property, and (c) replacement liens against
the property of the Debtor for any use of cash collateral, with
such liens having the same seniority and entitled to the same level
of priority as the priority of such creditors' perfected liens
against the Debtor's property that existed prior to the Petition
Date.

Parlex 15 Finco is represented by:

     Gary L. Kaplan, Esq
     Jones Day
     Brickell World Plaza
     600 Brickell Avenue, Suite 3300
     Miami, FL 33131
     Telephone: 1.305.714.9700
     Facsimile: 1.305.714.9799
     E-mail: gkaplan@jonesday.com

                    About Via Mizner Owner I LLC

Via Mizner Owner I LLC is a single asset real estate debtor, as
defined in 11 U.S.C. Section 101(51B).

Via Mizner Owner I sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. S.D. Fla. Case No.: 25-10369) on January
15, 2025. In its petition, the Debtor reports estimated assets and
liabilities between $100 million and $500 million each.

Honorable Bankruptcy Judge Erik P. Kimball handles the case.

The Debtor is represented by Bradley S. Shraiberg, Esq., at
Shraiberg Page, PA.


VIASAT INC: Restructures Exec Team; President to Depart
-------------------------------------------------------
Viasat, Inc. disclosed in a Form 8-K Report filed with the U.S.
Securities and Exchange Commission that on January 22, 2025, Kumara
Guru Gowrappan will cease serving as President of the Company as of
January 23, 2025.

Mr. Gowrappan and the Company are expected to enter into an
employment transition agreement, whereby Mr. Gowrappan will provide
transition services to the Company until April 30, 2025 (or, if
earlier, the date on which Mr. Gowrappan's employment with the
Company terminates). During the transition period, Mr. Gowrappan
will provide advisory and transitional services to the Company and
will report to the Chief Executive Officer. During the transition
period, Mr. Gowrappan will continue to receive his current base
salary of $1,000,000 per year, employee benefits pursuant to the
Company's benefit plans and his Company equity awards will continue
to vest according to their terms. Upon the expiration of the
transition period for any reason other than Mr. Gowrappan's
termination for cause, subject to Mr. Gowrappan's execution of a
general release of claims and compliance with applicable
restrictive covenants, the Company will provide Mr. Gowrappan with
the severance provided under his severance agreement with the
Company, plus an additional lump sum cash payment of $250,000.

Additionally, effective January 22, 2025, the Company announced
that Girish Chandran, the Company's Chief Technology Officer, will
take on additional responsibilities as the President of Global
Space Networks as of January 22, 2025, and that concurrently
therewith, Craig Miller, the Company's President, Global Space
Networks, ceased serving in such position as of the Transition Date
and will continue his employment with the Company as Senior Vice
President, Strategic Initiatives. In his new role, Miller will work
closely with Mark Dankberg, Viasat's Chairman of the Board and CEO,
regarding strategic growth initiatives. Girish Chandran, currently
Chief Technology Officer, will take on additional responsibilities
as President of Global Space Networks. Girish brings over 25 years
of experience in satellite systems and technology to lead the
Global Space Networks organization.

"We are appreciative of Guru's leadership integrating Inmarsat and
achieving accelerated synergies," said Dankberg. "Guru built a
great team, oversaw consolidation of operations, and we wish him
continued success in his future endeavors."

Gowrappan added, "Leading Viasat through the successful integration
of Inmarsat and playing a key role in positioning the company for
future growth has been an incredibly rewarding journey. As I
transition to my next chapter, I take pride in what we have
accomplished together and look forward to seeing Viasat continue to
thrive and make a meaningful impact around the world."

The company is reaffirming fiscal year 2025 financial guidance, as
shared during the last quarterly earnings announcement on November
6, 2024.

                         About Viasat Inc.

Viasat, Inc., headquartered in Carlsbad, California, operates a
consumer satellite broadband internet business, an in-flight
connectivity business, and provides satellite and related
communications, networking systems, and services to government and
commercial customers. Inmarsat operates a satellite communications
network using L-band, Ka-band, and S-band spectrum and provides
voice and data services to customers on land, at sea, and in the
air.

                           *     *     *

Egan-Jones Ratings Company on November 5, 2024, maintained its
'CCC+' foreign currency and local currency senior unsecured ratings
on debt issued by Viasat, Inc.


VITAL PHARMACEUTICALS: Gets Court Approval for $3-Mil. Settlement
-----------------------------------------------------------------
David Minsky of Law360 reports that on January 29, a Florida
federal bankruptcy judge approved a $3 million settlement in the
bankruptcy case of Vital Pharmaceuticals Inc., the maker of Bang
Energy drinks.

According to the report, the judge, however, denied a request to
keep an agreement with an insurer regarding litigation costs in a
lawsuit brought by Monster Energy Co. confidential.

             About Vital Pharmaceuticals

Since 1993, Florida-based Vital Pharmaceuticals, Inc., doing
business as Bang Energy and as VPX Sports, has developed
performance beverages, supplements, and workout products to fuel
high-energy lifestyles. VPX Sports is the maker of Bang energy
drinks, among other consumer products.

Vital Pharmaceuticals, Inc., along with certain of its domestic
subsidiaries and affiliates, filed voluntary petitions for
protection under Chapter 11 of the Bankruptcy Code (Bankr. S.D.
Fla. Lead Case No. 22-17842) on Oct. 10, 2022.

VPX estimated $500 million to $1 billion in assets and liabilities
as of the bankruptcy filing.

The Hon. Scott M. Grossman is the case judge.

The Debtors tapped Latham & Watkins, LLP as general bankruptcy
counsel; Berger Singerman, LLP as local counsel; Haynes and Boone,
LLP and Faulkner ADR Law, PLLC as special counsels; Huron
Consulting Group, Inc., as CTO services provider; and Rothschild &
Co US, Inc., as investment banker; and Grant Thornton, LLP, as
financial advisor.  Stretto, Inc., is the notice, claims and
solicitation agent.

The U.S. Trustee for Region 21 appointed an official committee of
unsecured creditors on Nov. 1, 2022. The committee tapped
Lowenstein Sandler, LLP as general bankruptcy counsel; Sequor Law,
P.A., as local counsel; and Lincoln Partners Advisors, LLC, as
financial advisor.


WEST TECHNOLOGY: Moody's Cuts CFR to Caa1 & Alters Outlook to Neg.
------------------------------------------------------------------
Moody's Ratings downgraded West Technology Group, LLC's corporate
family rating to Caa1 from B3 and its probability of default rating
to Caa1-PD from B3-PD. Concurrently, Moody's downgraded the ratings
of West Technology's senior secured first lien bank credit
facilities, comprising the senior secured first lien revolving
credit facility expiring August 2026 and senior secured first lien
term loan B3 due April 2027 to B2 from B1 ratings and the senior
secured second lien notes due April 2027 to Caa3 from Caa2 rating.
The outlook was changed to negative from stable. West Technology is
a provider of technology-enabled communications services.

The downgrade to Caa1 rating reflects the company's very high
financial leverage, Moody's expectation of continued EBITDA
declines in 2025, ongoing negative free cash flow generation and
challenges in achieving sustainable and profitable growth. As such,
governance is a key driver of the action. Since 2023, the company
has sold several of its businesses and used the sale proceeds to
repay debt and add cash to the balance sheet. Moody's expect
further asset sales over time with sale proceeds to be used in a
similar manner. However, the asset sales involve uncertain timing
and event risk. The negative outlook reflects Moody's uncertainty
of West Technology generating free cash flow beyond 2025 which
could weaken its liquidity.

RATINGS RATIONALE

West Technology's Caa1 CFR is constrained by the company's highly
leveraged debt capital structure, declining revenue trends in all
three of its business segments and Moody's expectation for
continued negative free cash flow in 2025. Moody's expect revenue
declines to persist in the TeleVox segment due to recasts and
reprices of its enterprise clients from a volume-based pricing
model to a Software as a Service (SaaS) approach, though the SaaS
transition will provide better revenue visibility with longer-term
client contracts. In addition, there is uncertainty about the
timing of further divestitures and the value of proceeds, which can
materially impact the credit profile and debt service capacity of
the remaining businesses.

The credit profile is supported by the company's leading position
as a provider of notification services and investor relations press
release distributions, good operating scale and business diversity.
The company is combining the TeleVox and Mosaicx businesses, and
when completed, Moody's expect cost savings will contribute to
improved credit metrics and free cash flow in 2026. Risks are also
mitigated by the company's good liquidity supported by high cash
balances and a fully available $152.7 million revolver which
Moody's expect are sufficient to fund expected cash flow deficits
in 2025.

All financial metrics cited reflect Moody's standard adjustments.

Moody's view West Technology's liquidity as good supported by its
currently high cash balances ($187 million cash as of September 30,
2024) and undrawn $152.7 million revolver expiring August 2026
which is more than sufficient to fund Moody's expectation of
negative free cash flow over the next 12 months. During the fourth
quarter, the company sold its Utilities business included in
Mosaicx segment, and a majority of proceeds were used to repay
debt. Cash needs over the next 12 months include one-time costs
associated with cost takeout initiatives and capital spending
around 8% of revenue. Moody's expect West Technology's revolver
will likely remain undrawn and the company's cash balances are
sufficient to fund the expected cash burn in 2025. The revolver
contains a springing maximum first lien net leverage ratio of 5.9x
(with no step downs) when utilization is greater than 35% ($53.6
million). The definition of EBITDA in the credit agreement permits
various addbacks, including non-recurring expenses and pro forma
cost savings. Based on Moody's expectations for operating
performance, Moody's estimate that West Technology will have modest
operation cushion under the leverage ratio test if the ratio were
to become applicable.

West Technology's debt instrument ratings incorporate its
probability of default, reflected in the Caa1-PD Probability of
Default Rating, and the expected loss for the debt instruments.
West Technology's first lien credit facilities comprising the first
lien revolver expiring August 2026 and term loan due April 2027 are
rated B2. The rating reflects their first priority position in the
capital structure and a meaningful cushion from the outstanding
amount $446.448 million of second lien notes due April 2027 that is
rated at Caa3. The rating for the second lien notes reflect their
subordination by a meaningful amount of secured debt in the capital
structure and their weak recovery prospects in the event of a
default.

The negative outlook reflects Moody's view that West Technology's
revenue will decline and free cash flow will remain negative over
the next 12 months.

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

Given the negative outlook, an upgrade is unlikely in the near
term. However, upward rating pressure would arise if West
Technology delivers solid operating performance with sustainable
revenue and EBITDA growth and generates positive free cash flow.

Downward rating pressure could occur if liquidity deteriorates, the
risk of default rises, or Moody's assessment of recovery in a
default scenario deteriorates to levels below the expectation for a
Caa1 rating.

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

West Technology Group, LLC (f/k/a Intrado Corporation) is a
provider of technology-enabled communications services. It was
acquired by affiliates of Apollo Global Management, Inc. in October
2017.


WOK HOLDINGS: Moody's Affirms 'Caa1' CFR, Outlook Stable
--------------------------------------------------------
Moody's Ratings assigned a Caa1 rating to Wok Holdings Inc.'s
backed senior secured first lien term loan due September 2029.
Concurrently, Moody's affirmed all of the company's ratings,
including its Caa1 corporate family rating, Caa2-PD probability of
default rating and Caa1 rating on its existing backed senior
secured revolving credit facility expiring September 2025. The
rating outlook remains stable.

Wok Holdings raised approximately $45 million of additional capital
and fully refinanced its term loan due March 2026, which has
lengthened its term loan maturity profile. The affirmations of the
ratings reflects Moody's expectation for stable earnings over the
next 12 months supported by improving customer traffic and process
improvements despite its weak credit metrics with the company's
debt/EBITDA at 5.7x and EBIT/interest coverage of 0.8x for the LTM
ended October 1, 2024. The stable outlook also reflects Moody's
expectation that the company will improve its weak liquidity
profile by refinancing its revolving credit facility due September
2025 and eliminating near term maturities.

RATINGS RATIONALE

Wok Holdings' Caa1 CFR reflects its small scale compared to rated
restaurant peers, weak credit metrics, and its weak liquidity with
its current revolver expiring September 2025. Other constraints
include challenging customer traffic trends affecting the casual
dining segment resulting in lower revenue over the last two years.
Moody's expect debt/EBITDA and EBIT/Interest to remain relatively
unchanged over the next 12 months supported by the company's
actions to improve efficiencies that have helped manage costs and
stabilize revenue. The rating is supported by a high level of
awareness of the P.F. Chang brand with the Asian cuisine sector,
good geographic distribution across major MSAs and good mix of
off-premise (delivery and takeout) sales. Reduced capital spending
should also ease the strain on free cash flow, which Moody's expect
to be break even to modestly positive over the next 12 months,
assuming its revolver with its letters of credit usage of
approximately $20 million is refinanced.

The stable outlook reflects Moody's expectation for modest
improvement in revenue and EBITDA over the next 12 months. The
outlook also reflects Moody's belief that the company will address
the upcoming revolver maturity and that it will maintain adequate
liquidity.

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

A higher rating would require a sustained improvement in operating
performance and at least adequate liquidity including break-even to
positive free cash flow and the company addressing its near-term
revolver maturity. An upgrade would also require debt/EBITDA
sustained below 6.5x and EBIT/interest expense sustained above
1.0x.

Ratings could be downgraded should Wok Holdings' credit metrics
weaken further from current levels or should there be any
deterioration in expected recoveries.

Wok Holdings Inc. owns and operates 199 full-service casual
restaurants under the brand name, P.F. Chang's China Bistro
(Bistro), 5 P.F. Chang's To-Go and 3 Pagoda Asian Grill locations
in the US Additionally, the company licenses 96 restaurants, 90 of
which are international. Revenue for the twelve month period ended
October 01, 2024 was about $960 million. Wok Holdings is owned by
TriArtisan Capital Advisors LLC and Paulson & Co Inc.

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


WYNNE TRANSPORTATION: U.S. Trustee Appoints Creditors' Committee
----------------------------------------------------------------
The U.S. Trustee for Region 3 appointed an official committee to
represent unsecured creditors in the Chapter 11 cases of Wynne
Transportation Holdings, LLC and its affiliates.
  
The committee members are:

     1. Western Motorcoach, Inc.
        Attn: Harry Bao
        11318 Bedford St
        Houston, TX 77031
        Phone: 832-328-1318
        Email: hbao@westernmotorcoach.com

     2. Sweet Grass Portables
        Attn: Blake or Clark Garton
        P.O. Box 1305
        Big Timber, MT 59011
        Phone: 406-932-4433
        Email: sweetgrassportables@gmail.com

     3. El Camino Bus Lines and Los Chavez Autobuses, Inc.
        Attn: Martin Chavez
        911 Enid St.
        Houston, TX 77009
        Phone: 832-799-0807
        Email: caminobusiness@gmail.com

     4. GETZ Transport Solutions, LLC
        Attn: George Pickard
        1708 Spring Garden Blvd, Suite 120-26
        Katy, TX 77494
        Phone: 713-410-4030
        Email: george@getztransportsolutions.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 Wynne Transportation Holdings

Wynne Transportation Holdings LLC operating as U.S. Crew Change
from its Dallas headquarters, provides specialized transportation
services for industrial and emergency sectors, focusing on LNG,
petrochemical, mining, oil and gas, and construction industries.

Wynne Transportation Holdings LLC sought relief under Chapter 11 of
the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 25-10027) on
January 11, 2025. In its petition, the Debtor reports estimated
assets and liabilities between $10 million and $50 million each.

Matthew B. McGuire, Esq., at Landis Rath & Cobb LLP, represents the
Debtor as counsel.


YOUNG TRANSPORTATION: Plan Filing Deadline Extended to Feb. 24
--------------------------------------------------------------
Judge Jason D. Woodard of the U.S. Bankruptcy Court for the
Northern District of Mississippi extended Young Transportation
Inc.'s period to file a chapter 11 plan to February 24, 2025.

As shared by Troubled Company Reporter, the Debtor explains that it
endeavors to provide information sufficient to enable creditors to
make an informed decision regarding how to vote on the plan when
filing its plan. Due to the holidays, Debtor's counsel has been
unable to formulate such a plan. For this reason, the Debtor
requests an extension of time to file its plan, through and
including February 24, 2025.

The Debtor claims that because Subchapter V of the Bankruptcy Code
was recently enacted, there is little case law to guide the Court's
interpretation of Section 1189(b) of the Bankruptcy Code's
provision for an extension of the time to file a plan. However,
this case is one where an extension is in the best interest of the
parties.

The Debtor asserts that it does not seek this extension for
purposes of delay, but rather, to allow the Debtor an opportunity
to fully formulate and file its proposed Plan.

Young Transportation Inc. is represented by:

     J. Walter Newman IV, Esq.
     Newman & Newman
     587 Highland Colony Parkway
     Ridgeland, MS 39157
     Tel: (601) 948-0586
     Email: wnewman95@msn.com

                  About Young Transportation

Young Transportation Inc. operates in the general freight trucking
industry.

Young Transportation filed a petition under Chapter 11, Subchapter
V of the Bankruptcy Code (Bankr. N.D. Miss. Case No. 24-13174) on
October 11, 2024, with $500,000 to $1 million in assets and $1
million to $10 million in liabilities. Daniel L. Young, president,
signed the petition.

Judge Jason D. Woodard handles the case.

The Debtor is represented by J. Walter Newman, IV, Esq., at Newman
& Newman.


ZACHRY HOLDINGS: Plan Exclusivity Period Extended to Feb. 28
------------------------------------------------------------
Judge Marvin Isgur of the U.S. Bankruptcy Court for the Southern
District of Texas extended Zachry Holdings, Inc. and its
affiliates' exclusive periods to file a plan of reorganization and
obtain acceptance thereof to February 28 and April 29, 2025,
respectively.

As shared by Troubled Company Reporter, the Debtors explain that
the size and complexity of a company's chapter 11 case is perhaps
the most common justification for extending a debtor's exclusive
periods. There are 21 separate Debtor entities in these cases, with
thousands of creditors, approximately $281 million of funded debt,
and over $5.4 billion in operating revenues on a consolidated
basis. The Debtors are involved in numerous large construction
projects worth tens of billions of dollars and have existing
business relationships with thousands of customers and vendors
across the globe. These cases are unquestionably large and
complex.

The Debtors assert that they are not seeking an extension of the
Exclusive Periods to pressure or coerce creditors. The Debtors have
maintained an active dialogue with their creditors and are seeking
an extension of time to confirm the Plan or to propose a different
plan of reorganization that will maximize recoveries for the
Debtors' stakeholders. The additional time will allow the Debtors
to further engage with their creditors without the distraction that
could be created by competing plans.

Counsel to the Debtors:          

                  Charles R. Koster, Esq.
                  WHITE & CASE LLP
                  609 Main Street, Suite 2900
                  Houston, Texas 77002
                  Tel: (713) 496-9700
                  Fax: (713) 496-9701
                  Email: charles.koster@whitecase.com

                    - and -

                  Bojan Guzina, Esq.
                  Andrew F. O'Neill, Esq.
                  RJ Szuba, Esq.
                  Barrett Lingle, Esq.
                  111 South Wacker Drive, Suite 5100
                  Chicago, Illinois 60606
                  Tel: (312) 881-5400
                  Email: bojan.guzina@whitecase.com
                         aoneill@whitecase.com
                         rj.szuba@whitecase.com
                         barrett.lingle@whitecase.com

                    About Zachry Holdings

Zachry Holdings, Inc., is the engineering, construction,
maintenance, turnaround and fabrication services offshoot of the
storied family-owned business that began as H.B. Zachry Company one
hundred years ago. The other offshoot, Zachry Construction, has
operated separately from Zachry Industrial since the two businesses
branched off from their common roots in 2008. The Zachry Group
provides engineering and construction services to clients in the
energy, chemicals, power, manufacturing, and industrial sectors
across North America.

None of the entities affiliated with Zachry Construction are
Debtors in the chapter 11 cases.

Zachry Holdings and its subsidiaries sought protection under
Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Lead Case
No. 24-90377) on May 21, 2024, with $1 billion to $10 billion in
assets and liabilities.

James R. Old, general counsel, signed the petitions.

Judge Marvin Isgur presides over the case.

The Debtors tapped White & Case LLP as general bankruptcy counsel;
Susman Godfrey L.L.P. and Hicks Thomas, LLP as special litigation
counsel; and Kurtzman Carson Consultants as notice & claims agent.


ZACHRY HOLDINGS: Two Committee Members Resign
---------------------------------------------
The U.S. Trustee for Region 7 disclosed in a court filing the
resignation of Innovative Heat Treatment Solutions and The Reynolds
Company from the official committee of unsecured creditors in the
Chapter 11 cases of Zachry Holdings, Inc. and its affiliates.

As of Jan. 27, the remaining members of the committee are:

     1. Sunbelt Rentals, Inc.
        Sunbelt Rentals Scaffold Services LLC
        Rod Samples, CFO
        1799 Innovation Pt
        Fort Mill, SC 29715
        (803) 412-5668
        Rod.samples@sunbeltrentals.com

        Counsel:
        Jayme Goldstein
        jaymegoldstein@paulhastings.com
        Daniel Fliman
        danfliman@paulhastings.com
        Gabriel Sasson
        Sasson, Gabe
        gabesasson@paulhastings.com
        Paul Hastings LLP
        200 Park Avenue
        New York, NY 10166
        (213) 318-5668

     2. Bigge Crane and Rigging Co.
        Bob Lally, CFO
        10700 Bigge Street
        San Leandro, CA 94577
        (540) 499-5388
        blally@bigge.com

        Counsel:
        Mark C. Russell, General Counsel
        Bigge Crane and Rigging Co.
        (415) 308-6305
        mrussell@bigge.com

     3. Rush, LLC a/k/a Rush Resources
        John Rush, Jr.
        2781 County Road 639
        Buna, TX 77612
        (409) 781-5911
        jrush@rushllc.com

        Counsel:
        Reagan H "Tres" Gibbs, III
        tgibbs@cokinoslaw.com
        Craig E. Power
        CPower@cokinoslaw.com
        Cokinos | Young
        1221 Lamar Street, 16th Floor
        Houston, TX 77010
        (713) 535-5524

     4. Calcam Logistics & Contracting, LLC
        Lennie Stephens, Owner/Manager
        3010 Spurlock Road
        Nederland, TX 77627
        (601) 270-4965
        lennie@calcam.net

     5. P & I Supply
        Bruce Stallings, CEO
        2220 North Fares Avenue
        Evansville, IN 47711
        (812) 421-4141
        bstallings@pisupply.com

        Counsel:
        Patty Tomasco
        Quinn Emanuel Urquhart & Sullivan
        700 Louisiana Street, Suite 3900
        Houston, TX 77002
        (713) 221-7227
        pattytomasco@quinnemanuel.com

                     About Zachry Holdings

Zachry Holdings, Inc., is the engineering, construction,
maintenance, turnaround and fabrication services offshoot of the
storied family-owned business that began as H.B. Zachry Company 100
years ago.  The other offshoot, Zachry Construction, has operated
separately from Zachry Industrial since the two businesses
branched off from their common roots in 2008.  None of the entities
affiliated with Zachry Construction are Debtors in these chapter 11
cases. The Zachry Group provides engineering and construction
services to clients in the energy, chemicals, power, manufacturing,
and industrial sectors across North America.

The Debtors sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. S.D. Texas Lead Case No. 24-90377) on May
21, 2024, with $1 billion to $10 billion in assets and liabilities.
James R. Old, general counsel, signed the petitions.

Judge Marvin Isgur presides over the case.

The Debtors tapped White & Case LLP as general bankruptcy counsel;
Susman Godfrey L.L.P. and Hicks Thomas, LLP as special litigation
counsel; and Kurtzman Carson Consultants as notice & claims agent.

The U.S. Trustee for Region 7 appointed an official committee to
represent unsecured creditors in the Debtors' Chapter 11 cases.


ZRG INC: Voluntary Chapter 11 Case Summary
------------------------------------------
Debtor: ZRG, Inc.
        2322 Avenue N
        Brooklyn, NY 11210

Business Description: ZRG, Inc. holds 100% of the membership
                      interests in two limited liability
                      companies: 90 Nassau Street LLC, which owns
                      the real property located at 90 Nassau
                      Street, New York, NY; and 385 Greenwich
                      Street LLC, which owns the real property
                      located at 385 Greenwich Street, New York,
                      NY.

Chapter 11 Petition Date: January 29, 2025

Court: United States Bankruptcy Court
       Eastern District of New York

Case No.: 25-40464

Judge: Hon. Nancy Hershey Lord

Debtor's Counsel: Kevin Nash, Esq.
                  GOLDBERG WEPRIN FINKEL GOLDSTEIN LLP
                  125 Park Ave
                  New York, NY 10017-5690
                  Email: knash@gwfglaw.com

Estimated Assets: $10 million to $50 million

Estimated Liabilities: $10 million to $50 million

The petition was signed by Zachary Gindi as authorized signatory.

The Debtor failed to include a list of its 20 largest unsecured
creditors in the petition.

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

https://www.pacermonitor.com/view/YBVTGWA/ZRG_Inc__nyebke-25-40464__0001.0.pdf?mcid=tGE4TAMA


[*] Senior Care, Pharma Led 2024 Healthcare Bankruptcies
--------------------------------------------------------
Jacqueline LaPointe of TechTarget reports that senior care
facilities, pharmaceutical companies, and physician practices led
healthcare provider bankruptcies in 2024, despite an overall drop
in Chapter 11 filings, according to a new report from Gibbins
Advisors.

The healthcare restructuring advisory firm's annual report, which
tracks Chapter 11 cases with liabilities exceeding $10 million,
recorded 57 healthcare provider bankruptcies in 2024 -- a 28%
decrease from 79 in 2023. However, this still represented the
second-highest total in the past six years, second only to 2023.

Senior care and pharmaceutical companies continued to account for
the highest share of Chapter 11 filings, making up nearly half of
all healthcare bankruptcies. Physician practices and clinics also
saw a sharp rise, with filings reaching a six-year high of 10 in
2024 -- more than double the annual average of four from 2019 to
2023, according to Gibbins Advisors.

The report also highlighted a continued increase in bankruptcies
among medical equipment and supply providers since 2021. Hospital
bankruptcies remained significant, with five filings in 2024, down
from a peak of 12 in 2023. One of the year's most notable cases was
Steward Health Care System, which marked the largest hospital
sector bankruptcy in 30 years.

Steward Health Care filed for Chapter 11 in May 2024, struggling
under $9 billion in debt. At the time, it operated 31 hospitals and
was one of the largest private for-profit hospital systems in the
U.S.

Large-scale bankruptcies remained prominent in 2024, with nine
filings involving liabilities over $500 million -- slightly lower
than the 12 recorded in 2023 but still significantly above the
historical average of three per year from 2019 to 2023.
Bankruptcies in the $100 million to $500 million range remained
stable at 14, while middle-market bankruptcies (liabilities between
$10 million and $100 million) saw a sharp decline, dropping by a
third from 51 in 2023 to 34 in 2024.

Bankruptcies among physician practices have been rising, and
experts anticipate this trend will continue into 2025.

"We've already seen an increase in physician practice bankruptcies,
and the 2.83% reduction in Medicare's physician fee schedule for
FY2025 will add further pressure, impacting both independent
physician groups and hospital-owned practices," said Clare Moylan,
principal at Gibbins Advisors. "Given these financial challenges,
we expect more physician practices will require restructuring in
2025."

CMS finalized a 2.83% cut to the Medicare Physician Fee Schedule in
November 2024, which took effect on January 1, 2025. This marks the
fifth consecutive year of payment reductions, which physician
groups argue is unsustainable.

"Physician practices cannot continue absorbing rising costs while
reimbursement rates decline," the American Medical Association
warned in response to the CMS ruling. The Medicare Payment Advisory
Commission and Medicare Trustees have also cautioned that ongoing
cuts could impact access to care for seniors and individuals with
disabilities.

Gibbins Advisors also noted that financial strain from private
insurers is mounting as reimbursement rate increases fail to keep
pace with inflation. Additionally, a high reliance on government
payers is further exacerbating financial pressures.

Soaring labor and supply costs, coupled with capital market
constraints such as high interest rates, are making it increasingly
difficult for physician practices, hospitals, and other healthcare
providers to stay afloat. These challenges are widening the
financial divide between well-funded organizations and those
struggling to survive.

"While a new presidential administration adds some uncertainty to
the healthcare landscape, the financial challenges driving distress
remain unchanged," said Ronald Winters, principal at Gibbins
Advisors. "Standalone and rural providers will continue to face
major financial hurdles, making collaboration with communities
essential to preserving critical healthcare services."


[] BOOK REVIEW: Performance Evaluation of Hedge Funds
-----------------------------------------------------
Performance Evaluation of Hedge Funds: A Quantitative Approach

Edited by Greg N. Gregoriou, Fabrice Rouah, and Komlan Sedzro
Publisher: Beard Books
Hardcover: 203 pages
List price: $59.95
Review by Henry Berry
Order your copy at https://bit.ly/3yPU9oz

Hedge funds can be traced back to 1949 when Alfred Winslow Jones
formed the first one to "hedge" his investments in the stock market
by betting that some stocks would go up and others down.  However,
it has only been within the past decade that hedge funds have
exploded in growth.  The rise of global markets and the
uncertainties that have arisen from the valuation of different
currencies have given a boost to hedge funds.  In 1998, there were
approximately 3,500 hedge funds, managing capital of about $150
billion.  By mid-2006, 9,000 hedge funds were managing $1.2
trillion in assets.

Despite their growing prominence in the investment community, hedge
funds are only vaguely understood by most people. Performance
Evaluation of Hedge Funds addresses this shortcoming. The book
describes the structure, workings, purpose, and goals of hedge
funds.  While hedge funds are loosely defined as "funds with no
rules," the editors define these funds more usefully as "privately
pooled investments, usually structured as a partnership between the
fund managers and the investors."  The authors then expand upon
this definition by explaining what sorts of investments hedge funds
are, the work of the managers, and the reasons investors join a
hedge fund and what they are looking for in doing so.

For example, hedge funds are characterized as an "important avenue
for investors opting to diversify their traditional portfolios and
better control risk" -- an apt characterization considering their
tremendous growth over the last decade.  The qualifications to join
a hedge fund generally include a net worth in excess of $1
million;
thus, funds are for high net-worth individuals and institutional
investors such as foundations, life insurance companies,
endowments, and investment banks.  However, there are many
individuals with net worth below $1 million that take part in hedge
funds by pooling funds in financial entities that are then eligible
for a hedge fund.

This book discusses why hedge funds have become "notorious as
speculating vehicles," in part because of highly publicized
incidents, both pro and con.  For example, George Soros made $1
billion in 1992 by betting against the British pound.  Conversely,
the hedge fund Long-Term Capital Management (LTCP) imploded in
1998, with losses totaling $4.6 billion.  Nonetheless, these are
the exceptions rather than the rule, and the editors offer
statistics, studies, and other research showing that the
"volatility of hedge funds is closer to that of bonds than mutual
funds or equities."

After clarifying what hedge funds are and are not, the book
explains how to analyze hedge fund performance and select a
successful hedge fund.  It is here that the book has its greatest
utility, and the text is supplemented with graphs, tables, and
formulas.

The analysis makes one thing clear: for some investors, hedge funds
are an investment worth considering.  Most have a demonstrable
record of investment performance and the risk is low, contrary to
common perception.  Investors who have the necessary capital to
invest in a hedge fund or readers who aspire to join that select
club will want to absorb the research, information, analyses,
commentary, and guidance of this unique book.

Greg N. Gregoriou (1956–2018) was a professor of finance and
a native of Montreal, Quebec, Canada.  He received his joint Ph. D.
in 2004 with a specialization in the area of finance from the
University of Quebec at Montreal, Canada. He taught at U.S. and
Canadian universities and did research for large corporations.

Fabrice Douglas Rouah is a Director with Sapient Global Markets and
is based in New York City. He specializes in financial risk
management and is the co-author and co-editor of several books.

Komlan Sedzro, Ph. D., is the Dean of the School of Management,
University of Quebec in Montreal.  He has been a professor in the
Department of Finance at ESG UQAM since 1997. He holds a master's
degree in business economics from the University of Clermont in
France and a doctorate in Business Administration (Finance and
Insurance) from Laval University.



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