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251106.mbx T R O U B L E D C O M P A N Y R E P O R T E R Thursday, November 6, 2025, Vol. 29, No. 309 Headlines 2015 PARK: To Sell Park Apartments to LCCN for $8MM A& J'S CATFISH: Seeks Subchapter V Bankruptcy in Tennessee AB INTERNATIONAL: Director Linqing Ye Resigns ADDIAN INC: Todd Hennings Named Subchapter V Trustee ADVENTURES IN LEARNING: Unsecureds Will Get 50% over 60 Months ARTIFICIAL INTELLIGENCE: CEO Highlights Growth at OTC Conference ASBESTOS CORP: Wins Bid for Recognition of Foreign Main Proceeding ATLAS MIDCO: S&P Lowers ICR 'D' From 'CCC' On Debt Restructuring AZUL SA: Secures Court OK for Chapter 11 Plan Vote, Creditor Deal BEACON LIGHT: Section 341(a) Meeting of Creditors on Nov. 24 BEAUTIFUL CITY: Seeks to Extend Plan Exclusivity to Nov. 14, 2025 BEELINE HOLDINGS: Expects to Be Cash-Flow Positive by 2026 Q1 BEL TEMPO: Unsecured Creditors to Split $100K in Plan BHOWMICK LIQUOR: Claims to be Paid from Continued Operations BLEND COFFEE: Case Summary & One Unsecured Creditor BOREN INC: Case Summary & 10 Unsecured Creditors BOWERS TRUCKING: Taps Ampleo Turnaround as Accountant BRIGHT AUTO: Case Summary & Two Largest Unsecured Creditors BROTHER JOHN'S: Gets Interim OK to Use Cash Collateral CENTER FOR SPECIAL: To Sell Artspace's Property to SicEm Props CENTURY DESIGN: Court Extends Cash Collateral Access to Nov. 13 CHEER ATHLETICS-PLANO: Voluntary Chapter 11 Case Summary CK BUILDERS: To Sell San Antonio Property to Triple T Holding CLB TRUCKING: To Sell Equipment to Forge Truck for $140K CLNG HOMES: To Sell Huntington Way Property to Bradford Paul Beers COMMSCOPE HOLDING: Vanguard Group Holds 8.78% Equity Stake COMMUNITY HEALTH: Selling Tennova Stake for $600 Million COMTECH TELECOM: Delays Form 10-K Due to $2.5M Project Adjustment COOPER-STANDARD: Narrows Net Loss to $7.62 Million in Fiscal Q3 CORVIAS CAMPUS: Court OKs Deal to Modify Cash Collateral Order CORVIAS CAMPUS: Unsecureds Will Get 33.3% in Liquidating Plan CREATIVE REALITIES: Laurence W. Lytton Holds 5.1% Stake CRED INC: Trust Set to Distribute $76MM in Crypto Payouts CYTTA CORP: Reports $2.1 Million Net Loss in Fiscal Q3 DIAMONDHEAD CASINO: Trustee Wins OK for January Real Estate Sale DIOCESE OF ALEXANDRIA: Seeks Chapter 11 Reorganization DIOCESE OF OAKLAND: Court Grants Motion to End Bankruptcy Case DOOR COUNTY: Amends Unsecured Claims Pay Details DORADO PUTT: Hires CPA Luis R. Carrasquillo as Financial Consultant E&P ENTERPRISES: Seeks Chapter 7 Bankruptcy in Alabama EAGLE THEATER OPERATING: Seeks to Extend Exclusivity to Nov. 14 EAGLE THEATER: Seeks to Extend Plan Exclusivity to Nov. 14, 2025 EASTGATE WHITEHOUSE: Court Oks NY Property Sale to Mazal Echad ELASTIC NV: S&P Alters Outlook to Positive, Affirms 'BB' ICR ELETSON HOLDINGS: Seeks Sanctions Amid Affiliate Ownership Dispute ENDRA LIFE: ATW Partners Holds 9.9% Equity Stake ENDRA LIFE: Enters into $1.75M ATM Agreement with Lucid Capital ENDRA LIFE: John Carter Lipman Holds 9.99% Equity Stake FCI SAND: Seeks to Extend Plan Exclusivity to Jan. 26, 2026 FIRST BRANDS: Accuses Former CEO of Embezzling Millions FP HOUSTON: Case Summary & 20 Largest Unsecured Creditors FTX TRADING: Trust Moves to Recover $650K Donated to Charity GEC TRANSPORT: Seeks to Hire Tran Singh as Legal Counsel GOLDEN RULE: S&P Affirms 'BB+' Education Revenue Bonds Ratings GOLDEN TEMPLE: Unsecured Creditors to be Paid in Full in Plan GRMG REAL: To Sell Lake Ridge Interest to JBY LLC for $720K GROFF TRACTOR: To Sell Construction Equipment Biz at Auction GWG HOLDINGS: Ex-CEO Indicted of Stealing $150MM GYLMAR DEVELOPMENTS: Unsecureds to Get Share of Income for 3 Years HABE INTERNATIONAL: Seeks Chapter 7 Bankruptcy in Puerto Rico HADNOT LOGISTICS: Employs The Lane Law Firm as Counsel HARVEY CEMENT: Gets Extension to Use Cash Collateral HEADWAY WORKFORCE: Seeks to Extend Plan Exclusivity to Dec. 18 HERITAGE SALVAGE: Mark Sharf Named Subchapter V Trustee I V SUPPORT: Court OKs Deal to Extend Cash Collateral Access INSPIREMD INC: Craig Shore Holds 3.5% Equity Stake ITALIAN ORIGINAL: Seeks Chapter 7 Bankruptcy in Florida JACKSON HOSPITAL: Plan Exclusivity Period Extended to Dec. 31, 2025 JB GROUP: Gets Final OK to Use Cash Collateral JOSEPH G. BABA: Unsecureds to Get Share of Income for 3 Years KARYOPHARM THERAPEUTICS: Vanguard Group Holds 4.7% Stake LANDERS DEVELOPMENT: Voluntary Chapter 11 Case Summary LATITUDE 46: Gets Final OK to Use Cash Collateral LUMEN TECHNOLOGIES: Posts $621 Million Net Loss in Fiscal Q3 LUNAI BIOWORKS: Fails to Meet Nasdaq Listing Requirement MARFA CABINETS: To Sell Cabinet Business to New Marfa Holdings MARLIN CONSTRUCTION: Unsecureds to Get Share of Income for 3 Years MG LOGISTICS: Court Extends Cash Collateral Access to Jan. 15 MI TIERRA LINDA: Steven Altmann Named Subchapter V Trustee MOUNTAIN EXPRESS: Former Execs May Pursue Defense Cost MZS PROPERTIES: Court Extends Cash Collateral Access to Nov. 26 NANOVIBRONIX INC: Four Directors to Retire NEAR INTELLIGENCE: Suit Blames Auditor's Negligence for Losses NOBLE LIFE: Wins OK to Use Cash Collateral Until Dec. 31 NOISA INC.: Seeks to Employ Calaiaro Valencik as Counsel NORCOLD LLC: To Sell Refrigeration Products Biz at Auction NORTH JERSEY: To Sell Irvington Property to Christopher Awua OFFICE PROPERTIES: S&P Downgrades ICR to 'D' on Bankruptcy Filing ONDAS HOLDINGS: Acquires Controlling Stake in 4M Defense ORION PORTFOLIO: Seeks 120-Day Extension of Plan Filing Deadline OWL VENICE: Unsecured Creditors Will Get 1% over 60 Months PERASO INC: Has NDA with Mobix, Strategic Review Ongoing PET HOTELS: Court OKs Corozal Property Sale to Millenium Records PHB 2023: To Sell Highlands County Property to Brand Land PREPAID WIRELESS: T-Mobile Wins Bid to Seal Motion in Limine PRISM BIDCO: S&P Assigns 'B-' Issuer Credit Rating, Outlook Stable PRND3L INC: Available Cash & Business Operation to Fund Plan PROFESSIONAL DIVERSITY: Secures $1M Release from $20M Equity Line RENPRO LLC: Francis Brennan Named Subchapter V Trustee RENT-A-CHRISTMAS LLC: Unsecureds Will Get 1% via Quarterly Payments RICARDO'S PLACE: Caroline Djang Named Subchapter V Trustee RMS CARRIERS: Gets Extension to Access Cash Collateral RONBON LLC: Fine-Tunes Plan Documents RP THE REYNOLDS: Section 341(a) Meeting of Creditors on November 25 RYVYL INC: Reschedules 2025 Annual Meeting to December 15 SANUWAVE HEALTH: Ex-President Walko Exits with $76,700 Severance SEAMLESS QUALITY: Gets Interim OK to Use Cash Collateral SECURITY TRANSPORT: Hires Cole Advisors as Consultant and Advisor SHPS PLLC: Employs Condon Tobin Sladek as Legal Counsel SMILES AROUND: Section 341(a) Meeting of Creditors on December 1 SOURCE MORTGAGE: Application to Employ Payne Law Firm Okayed SOUTHERN CHICKEN-PEACHTREE: Voluntary Chapter 11 Case Summary SOUTHERN CHICKEN-WOODSTOCK: Case Summary & One Unsecured Creditor SPIRIT AEROSYSTEMS: Widens Net Loss to $724 Million in Fiscal Q3 SPLASH BEVERAGE: Raises $400,000 in Sale of Preferreds, Warrants SRX HEALTH: Keystone Agrees to Up Commitment to $1BB SRX HEALTH: Raises $15.23M via Series A Preferred and Warrants SRX HEALTH: Two Directors Resign Voluntarily; Board Reconstituted STEELHOMES MODULAR: To Sell Modular Home Biz to SH Modular STEELTOWN RESTAURANT: Seeks Chapter 7 in Pennsylvania SUPRA NATIONAL: Shipping Company Seeks Chapter 11 Bankruptcy SWAHILI VILLAGE NEWARK: Case Summary & 20 Top Unsecured Creditors TAPS RANCH II: Gets Interim OK to Use Cash Collateral TEHUM CARE: Exhibit C Claimants Bound by Releases Under Plan TIFARET DISCOUNT: Seeks to Extend Plan Exclusivity to Jan. 10, 2026 TIME OUT: To Sell Mobile Homes to MDM Capital for $6.1MM TRUTANKLESS INC: Reports $1.24 Million Net Loss in Fiscal Q2 TURNONGREEN INC: Steven Caspi and SJC Lending Holds 8.6% Stake U.S. TELEPACIFIC: S&P Downgrades ICR to 'CCC-', Outlook Negative UKG INC: S&P Alters Outlook to Positive, Affirms 'B-' ICR UMAMAHESH LLC: Case Summary & 20 Largest Unsecured Creditors UNITI GROUP: S&P Withdraws 'B-' Issuer Credit Rating VIB TRANS: Janice Seyedin Named Subchapter V Trustee VIB TRANS: Seeks Chapter 11 Bankruptcy in Illinois VILLAGE HOMES: Fort Worth Properties Sale to Multiple Buyers OK'd VILLAGE HOMES: To Sell Sandpiper Property to John & Alexandra Alvis VIVAKOR INC: VST Launches $24MM Crude Oil Trade in Permian Basin VON ROHR: Case Summary & 20 Largest Unsecured Creditors VSM PROPERTIES: Tellico Plains Property Sale to Tellico Cabins OK'd WELTY SERVICES: Court Extends Cash Collateral Access to Dec. 27 WELTY SERVICES: To Sell Brazoria County Property to D. Weerakoon WKH LLC: Governmental Bar Date on April 21 WOHALI LAND: Trustee Seeks to Employ Ampleo Turnaround as Adviser WOLFSPEED INC: Claims Gas Supplier Breached Equipment Deal WORKSPORT LTD: Nov. 28 SOLIS & COR Launch Targets $2.45MM Revenue [^] Recent Small-Dollar & Individual Chapter 11 Filings ********* 2015 PARK: To Sell Park Apartments to LCCN for $8MM --------------------------------------------------- 2015 Park Street LP seeks approval from the U.S. Bankruptcy Court for the Southern District of Texas, Corpus Christi Division, to sell Park Apartments, free and clear of liens, claims, interests, and encumbrances. The real property the Debtor seeks approval to sell is the entirety of the Park Apartments. The proposed purchase price is $8,009,852.48. The sale is on an "as is" basis for cash and there are no contingencies other than approval of the sale by the Court. The closing date is on or before December 16, 2025, and no extensions of the closing date are permitted absent written agreement from Fannie Mae. The buyer, LCCN Inc. or Assignee, is an affiliate of the Debtor. The buyer has deposited $100,000 in earnest money in the trust account of Debtor's counsel, which is a reasonable amount of earnest money for a transaction of this type. The contract and earnest money will be delivered to a title company no later than Wednesday, November 5. The 45 day closing deadline is needed because the buyer is obtaining 3rd party financing for most of the purchase price, and the proposed lender requires a title policy that has not yet been finally issued. The Buyer's intent to obtain financing for the purchase does not create a condition to the Buyer obligation to close. The price is fair and adequate, and advantageous for the Debtor's estate, because it will allow payment in full of Fannie Mae's claim and all currently due liens at closing, and will also provide sufficient cash to satisfy all other valid claims against the Debtors estate. Fannie Mae shall be paid in full at closing the sum of $6,813,584.05, plus accrued interest from 11/5/25 through the date of closing at $1,488.22 per diem, plus a reasonable amount of additional attorneys' fees incurred thru the date of closing, and will be required to release its liens at closing upon tender of payment in full of its claim. Payment of certain disputed portions of Fannie Mae's claim are being made under protest, and Debtor intends to seek recovery of those disputed sums in a currently pending District Court lawsuit. The sale price is less than offers received by an unrelated parties, but unlike all the unrelated party offers, there are no contingencies. The earnest money is the same as the highest amount offered by an unrelated party. All remaining cash proceeds after payment at closing of closing costs, Fannie Mae's claim, currently due taxes, and any liens that appear on the title policy will be deposited in the Debtor's DIP account. Debtor believes the contract fully satisfies the terms of the Agreed Lift Stay order to cancel the Fannie Mae foreclosure set for November 4. About 2015 Park Street LP 2015 Park Street LP owns and operates a park in Corpus Christi, Texas offering a picturesque setting close to Corpus Christi Bay and the scenic Oso Beach Municipal Golf Course. The Park also offers a range of rental options to suit diverse lifestyles. 2015 Park Street LP sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 24-20183) on July 1, 2024. In the petition filed by Clyde Nazareth, as president of General Partner, the Debtor reports estimated assets between $10 million and $50 million and estimated liabilities between $1 million and $10 million. The Debtor is represented by Nathaniel Peter Holzer, Esq. A& J'S CATFISH: Seeks Subchapter V Bankruptcy in Tennessee ---------------------------------------------------------- On October 21, 2025, A& J's Catfish Station sought Chapter 11 protection in the Western District of Tennessee. Court documents indicate the business holds debts between $100,001 and $1 million, identifying up to 49 creditors in total. About A& J's Catfish Station A& J's Catfish Station is a casual eatery offering a menu of Southern comfort food, centered around its popular catfish selections. A&J's Catfish Station sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Tenn. Case No. 25-25379) on October 21, 2025. In its petition, the Debtor reports estimated assets up to $100,000 and estimated liabilities between $100,001 and $1 million. AB INTERNATIONAL: Director Linqing Ye Resigns --------------------------------------------- AB International Group Corp. disclosed in a Form 8-K Report filed with the U.S. Securities and Exchange Commission that on October 28, 2025, Linqing Ye resigned as a member of the Board of directors. There was no known disagreement with Mr. Ye on any matter relating to the Company's operations, policies or practices. About AB International Headquartered in Mt. Kisco, N.Y., AB International Group Corp. is an intellectual property (IP) and movie investment and licensing firm, focused on the acquisition and development of various intellectual property, including the acquisition and distribution of movies. As of Feb. 28, 2025, AB International Group had $2.9 million in total assets, $990,151 in total liabilities, and total stockholders' equity of $1.9 million. Hackensack, N.J.-based Prager Metis CPAs, LLC, the Company's auditor since 2022, issued a "going concern" qualification in its report dated November 26, 2024, citing that the Company had limited cash, an accumulated deficit of approximately $11.8 million and a limited working capital deficit of approximately $0.2 million. The continuation of the Company as a going concern is dependent upon the continued financial support from its stockholders or external financing and achieving operating profits. These factors, among others, raise substantial doubt about the Company's ability to continue as a going concern. ADDIAN INC: Todd Hennings Named Subchapter V Trustee ---------------------------------------------------- The Acting U.S. Trustee for Region 21 appointed Todd Hennings, Esq., at Macey, Wilensky & Hennings, LLP as Subchapter V trustee for Addian, Inc. Mr. Hennings will be paid an hourly fee of $450 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Hennings declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Todd E. Hennings, Esq. Macey, Wilensky & Hennings, LLP 5500 Interstate North Parkway, Suite 435 Sandy Springs, GA 30328 Phone: (404) 584-1222 Email: info@joneswalden.com About Addian Inc. Addian, Inc. imports and distributes products including personal protective equipment, to intermediaries and other clients, handling logistics and order fulfillment primarily in the United States. The company engages with upstream suppliers and provides distribution services through intermediaries and its internal operations. It conducts business under the name Media Fulfillment and is based in Powder Springs, Ga. Addian sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ga. Case No. 25-62506) on October 29, 2025, with up to $50,000 in assets and between $1 million and $10 million in liabilities. Adam E. Ekbom, Esq., at Jones & Walden, LLC represents the Debtor as legal counsel. ADVENTURES IN LEARNING: Unsecureds Will Get 50% over 60 Months -------------------------------------------------------------- Adventures In Learning Daycare Bayonne, LLC, submitted a First Amended Plan of Reorganization for Small Business dated October 27, 2025. The Debtor proposes to reclassify the Mahalaxmi Flagship Urban Renewal, LLC, Secured Claim 2-1, as a separately classified cure claim of the Landlord pursuant to Section 365(b)(1) in the amount of $337,500.00 ("Landlord Claim"). The Debtor lists the claim in its schedules as a contingent, disputed claim unliquidated general unsecured claim with a right to a set-off and the Landlord Claim has been negotiated in good faith, settled and fixed at $337,500.00 to be paid via an initial deposit of $40,000.00 to be held in Trust pending Plan confirmation and 60 equal monthly payments thereafter of $4,958.00 (no interest). Monthly payments on the Landlord Claim shall commence thirty days from the effective date of the Plan and pursuant to the Order Confirming Plan. Specific and final terms of the Landlord Claim settlement are still being finalized and shall be incorporated herein via a proposed Consent Order prior to confirmation. Negotiations with the Landlord have proved to be successful and with this resolution, the parties have decided to halt all further potential protracted litigation against the Debtor and the Members of the Debtor. With the settlement of the Landlord Claim, the Debtor shall assume the Commercial Lease and cure the defaults and provide adequate assurances pursuant to the Settlement Agreement, Section 365(b)(1) and the existing Commercial Lease. The Debtor will also stay current with all rental obligations in connection with the Debtor's business premises and the Commercial Lease. The Plan will be funded by the income derived from AIL's business operations and also the Managing Members of the Debtor, Angel Alicea and Wanda Alicea, from their personal funds and income derived from other business interests they own to ensure all obligations under the Plan are met. Angel Alicea and Wanda Alicea, Individually, to also make a nonrecourse capital contribution towards administrative expenses and/or initial Plan funding upon confirmation of the Plan (if necessary). The Managing Members are guarantors to 100% of the Debtor's debt and they are not in active bankruptcy as individuals. The settlement of the Landlord Claim will also conclude pending state court litigation as to the Managing Members in order to ensure the Plan is properly funded and allow for the Plan to be substantially consummated. The Debtor and Landlord have agreed to globally settle the Landlord Claim and have agreed in principle. Final and specific terms are still being discussed which shall be memorialized in a Consent Order which terms will be incorporated into this Plan and the Confirmation Order. All post-petition obligations are being met, and Debtor is current with its post petition rent and CAM charges owed to the Landlord. The relevant terms of the settlement with the Landlord are the following (Other specific terms are still being finalized): * The parties have agreed to settle and fix the Landlord Claim at $337,500.00. Claim 2-1 shall be reclassified as a Landlord cure claim pursuant to Section 365(b)(1) of the Bankruptcy Code and shall be satisfied with an initial down payment of $40,000.00 to be paid to the Landlord within thirty days of the Plan effective date. Payments of $4,958.00 shall be made for 60 months thereafter and these payments shall be without interest or any additional costs or fees. * CAM will increase to $4,500.00 each month commencing September 1, 2025. CAM will increase to $5,000.00 on September 1, 2028. CAM will increase to $5,500 each month on September 1, 2031 (Reflected CAM after the initial Lease Term will be incorporated into Lease renewal/extension and which parties are discussing renewal terms). There will be no audit rights or accounting since these CAM charges are flat rates. The CAM charges will include real estate taxes, insurance, snow removal, landscaping, garbage, and as to common areas only: (i) utilities; (ii) security; and (iii) equipment repairs and replacement. Debtor will remain liable for repairs regarding its leased premises, pursuant to the terms of the Commercial Lease. * The existing HVAC system was newly installed when the space was being built for the Debtor's daycare facility during 2020 through 2021 and problems with the system have persisted since the Debtor opened for business which the Landlord has been made aware of on countless occasions. The HVAC system is constantly leaking and malfunctioning and Debtor believes it is due to improper installation and/or improper size for the existing space. The parties have agreed to meet at the Debtor’s business and have the HVAC evaluated by the Landlord's contractor and the Debtor's contractor to identify any existing problems with the installation, operating efficiency, proper maintenance and proper thermostat settings. * Provided Debtor is honoring all obligations under the Lease and Plan, the Debtor shall retain the right for an option to renew for a new five-year lease term commencing on September 1, 2026. Debtor shall provide six months' advance written notice to exercise such option and Debtor shall provide a proposed term sheet to finalize all details related to the new Lease provisions prior to Plan confirmation. * All existing guarantees by Debtor's two principals (collectively, the "Guarantors") will be reaffirmed regarding the cure amount, the existing lease and the New Lease. The Guarantors shall: (i) absolutely and unconditionally guarantee all obligations due to Landlord, including the Cure Amount; (ii) covenant to refrain from making any material transfers outside the ordinary course of business for the duration of the New Lease, this notwithstanding, the Landlord shall allow the Debtor to peacefully and quietly enjoy its occupancy without interference of the Landlord and there are no audit or inspection rights of the Landlord regarding the Debtor's books and records and (iii) provide certified personal financial statements to Landlord, if necessary. * In the event of a sale of the Debtor's business, the remaining cure amount will become immediately due and payable at or within 24 hours of the closing. In addition, any prospective purchaser will be required to provide two years of tax returns and financial statements, including the buyer's principals' sworn personal financial statements. The buyer's principals will be required to provide absolute and unconditional personal guarantees of the New Lease. Landlord's approval of the purchasers will remain subject to the review of Landlord, but such approval shall not unreasonably be withheld. The Guarantors' full guaranty of the Lease and the New Lease will be unaffected by any such sale and will remain in effect. Class 1 consists of the claim of Mahalaxmi Flagship Urban Renewal, LLC (Claim is Disputed, Contingent, Unliquidated, Subject To Setoff). The Debtor proposes to reclassify the Mahalaxmi Flagship Urban Renewal, LLC, Secured Claim 2-1, as a separately classified cure claim of the Landlord pursuant to Section 365(b)(1) in the amount of $337,500.00 ("Landlord Claim"). The Debtor lists the claim in its schedules as a contingent, disputed claim unliquidated general unsecured claim with a right to a set-off and the Landlord Claim has been negotiated in good faith, settled and fixed at $337,500.00 to be paid via an initial deposit of $40,000.00 to be held in Trust pending Plan confirmation and 60 equal monthly payments thereafter of $4,958.00 (no interest). Monthly payments on the Landlord Claim shall commence thirty days from the effective date of the Plan and pursuant to the Order Confirming Plan. Specific and final terms of the Landlord Claim settlement are still being finalized and shall be incorporated herein via a proposed Consent Order prior to confirmation. Negotiations with the Landlord have proved to be successful and with this resolution, the parties have decided to halt all further potential protracted litigation against the Debtor and the Members of the Debtor. With the settlement of the Landlord Claim, the Debtor shall assume the Commercial Lease and cure the defaults and provide adequate assurances pursuant to the Settlement Agreement, Section 365(b)(1) and the existing Commercial Lease. The Debtor will also stay current with all rental obligations in connection with the Debtor's business premises and the Commercial Lease. Class 3 consists of General Unsecured Claims. Claimants to share pro rata in a total fund of $9,390.00. The Debtor will contribute that amount over a five-year term. Commencing 30 days after the Effective Date, for a period of 60 months, the Debtor will make the following monthly payments toward the fund for payment of Class 3 Claims: Months 1 to 60: $156.50 per month; This Class will receive a distribution of 50% of their allowed claims. The Debtor, AIL, will fund the payments to Classes 1 through 3 by income from normal business operations of the Debtor and with nonrecourse capital contributions from the LLC Members, Angel Alicea and Wanda Alicea, as they are personal guarantors of all of the Debtor's liabilities. The Debtor, AIL, will fund the payments to all administrative and priority claims, by (1) normal business operations of the Debtor; and (2) Angel Alicea and Wanda Alicea, Individually, to also make a nonrecourse capital contribution towards administrative expenses and Plan funding on a regular basis (when necessary) upon confirmation of the Plan. A full-text copy of the First Amended Plan dated October 27, 2025 is available at https://urlcurt.com/u?l=QVerrK from PacerMonitor.com at no charge. Counsel to the Debtor: Steven D. Pertuz, Esq. THE LAW OFFICES OF STEVEN D. PERTUZ, LLC 111 Northfield Avenue, Suite 304 West Orange, NJ 07052 (973) 669-8600 About Adventures In Learning Daycare Adventures In Learning Daycare Bayonne, LLC, is a New Jersey Limited Liability Company with its last known premises located at 1 Flagship Street, Bayonne, NJ 07002. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.N.J. Case No. 25-12790) on March 18, 2025, listing up to $50,000 in assets and between $100,000 and $500,000 in liabilities. Judge Vincent F. Papalia presides over the case. Steven D. Pertuz, Esq. at the Law Offices of Steven D. Pertuz, LLC, is the Debtor's bankruptcy counsel. ARTIFICIAL INTELLIGENCE: CEO Highlights Growth at OTC Conference ---------------------------------------------------------------- Artificial Intelligence Technology Solutions, Inc., announced that CEO/CTO and founder Steve Reinharz presented at the OTC Markets Group Virtual Investor Conference held on October 28, 2025. Reinharz addressed several hundred registered investors, analysts, and advisors as he discussed AITX's updated Company Profile and outlined the Company's continued growth, expanding recurring revenue base, and leadership in AI innovation for security and automation. The Company continues to distinguish itself within the OTC marketplace through its consistent and transparent communication with shareholders. AITX maintains one of the most active investor engagement programs among small-cap issuers, including participation in events such as the OTC Markets Virtual Investor Conference and the Company's ongoing series of weekly video updates hosted by Reinharz. These regular interactions reinforce AITX's commitment to accessibility, accountability, and long-term investor confidence. During his presentation, Reinharz emphasized the importance of clearly communicating the depth and breadth of the Company's AI engineering, technology development, and market leadership to both existing and prospective investors. "I truly value every opportunity to connect directly with both existing and prospective investors," said Reinharz. "These events allow us to share the tremendous progress being made across our family of companies and demonstrate how our AI-driven innovations are reshaping the security and property management sectors. It's exciting to communicate our momentum and vision in such an open and interactive setting." Investors, analysts, and industry observers are encouraged to view the full presentation to gain a deeper understanding of AITX's growth strategy, technology leadership, and financial performance. The replay of Reinharz's appearance at the OTC Markets Virtual Investor Conference is now available on the OTC Markets Group's official YouTube channel. About Artificial Intelligence Technology Headquartered in Ferndale, Mich., Artificial Intelligence Technology Solutions Inc. provides artificial intelligence-based solutions that empower organizations to gain new insight, solve complex challenges, and fuel new business ideas. Through its next-generation robotic product offerings, AITX's RAD, RAD-R, RAD-M, and RAD-G companies help organizations streamline operations, increase ROI, and strengthen business. AITX technology improves the simplicity and economics of patrolling and guard services, allowing experienced personnel to focus on more strategic tasks. Customers augment the capabilities of existing staff and gain higher levels of situational awareness, all at drastically reduced costs. AITX solutions are well-suited for use in multiple industries such as enterprises, government, transportation, critical infrastructure, education, and healthcare. As of August 31, 2025, the Company had $9.53 million in total assets, $56.41 million in total liabilities, and a total stockholders' deficit of $47 million. Deer Park, Ill.-based L J Soldinger Associates, LLC, the Company's auditor since 2019, issued a "going concern" qualification in its report dated May 29, 2025, attached to the Company's Annual Report on Form 10-K for the fiscal year ended February 28, 2025, citing that the Company had negative cash flow from operating activities of approximately $12.2 million, an accumulated deficit of approximately $156.5 million and negative working capital of approximately $2.5 million as of and for the year ended February 28, 2025, which raises substantial doubt about its ability to continue as a going concern. ASBESTOS CORP: Wins Bid for Recognition of Foreign Main Proceeding ------------------------------------------------------------------ Chief Judge Martin Glenn of the United States Bankruptcy Court for the Southern District of New York granted recognition of Asbestos Corp Ltd.'s CCAA Proceeding in Canada as a foreign main proceeding. The Asbestos Parties' objections are overruled. ACL initiated insolvency proceedings for ACL under the Companies' Creditors Arrangement Act, R.S.C. 1985 in Canada on May 5, 2025. Soon after filing in the Canadian Court, ACL initiated Chapter 15 proceeding seeking recognition of the CCAA proceeding as a foreign main, or in the alternative, foreign nonmain proceeding; authorization of the Foreign Representative, on behalf of the Debtor, to possess and control, and be entrusted with the exclusive control and administration, of all of the Debtor's U.S. Interests; and to extend the section 362 to ACL, CLMI, Third Party Claim Administrator Resolute hired by CLMI to handle the U.S. asbestos claims, and former parent entity General Dynamics (the "Stay Parties"). The Asbestos Parties argue that the CCAA Proceeding is not a foreign main proceeding under Chapter 15 as ACL's COMI is not in Canada. The Asbestos Parties argue that ACL's primary assets are in the United States and not in Canada. While ACL views its primary assets as the residual material from their old mining operation as well as their real estate holdings, all of which are in Québec, the Asbestos Parties believe the true assets are insurance policies underlying the ISA between ACL and CLMI, which the Opposition contends would produce proceeds in excess of "one billion dollars." The Asbestos Parties posit that ACL's true headquarters is in the United States and not in Canada. The Debtor asserts that its board of directors and all employees live in and work in Canada. According to the Asbestos Parties, the vast majority of creditors affected in the case are located in the United States -- the claimants in asbestos-related injury suits brought against ACL. As these claims were filed in various state forums, United States law would apply to their disputes and their strong preference is to litigate in the United States. Additionally, the Asbestos Parties argue that the CCAA proceeding does not qualify as a foreign nonmain proceeding as ACL lacks an "establishment" in Canada. They contend that ACL's current activity in Canada related to residual mining material and real estate holdings are insufficient to create an "establishment" in Canada. Assuming, arguendo, that the Court recognizes the CCAA proceeding, the Asbestos Parties argue that it should deny extending the stay to the Stay Parties. The Asbestos Parties contend that extending the stay to third parties would violate the protections under section 1522, which permits the Court to grant relief only if the interest of creditors is "sufficiently protected." The Asbestos Parties argue that even if the Court finds the Canadian court affords creditors sufficient protection, the Court cannot extend stay relief as any claim against the Stay Parties would not have "an immediate adverse economic consequence for the debtor's estate." The Asbestos Parties also argue extending the stay would be averse to U.S. public policy, a violation of 11 U.S.C. Sec. 1506, as it would in effect be the Court sanctioning the Debtor's past unfair discovery tactics and the denial of due process that would befall creditors in a proceeding lacking the protections of section 524(g). The Foreign Representative counters that ACL's COMI is Canada, where it conducts its regular business and is where its management is located. The Court finds and concludes that ACL's COMI is in Canada. According to the Court, it is clear that ACL's headquarters are in Canada, specifically in Quebec. ACL's executives are located in Canada, its employees live in and work in Canada, it's bank accounts are in Canada, the company owns extensive real estate and mines in Canada, and the company's current projects are focused on extracting minerals from residual mining tailings located in Canada. These operations have been ongoing as of the filing date of the Chapter 15 Petition. The Asbestos Parties claim they will not be "sufficiently protected" in the CCAA Proceeding as Canadian courts lack the protections creditors are afforded in the Bankruptcy Code, specifically under 11 U.S.C. Sec. 524(g). Judge Glenn explains, "While no provision similar to section 524(g) exists under Canadian law, the Asbestos Parties' claim here is premature. At issue before this Court is solely the recognition of CCAA Proceeding and whether the stay should be extended in parallel with the order from the Canadian Court. A plan has not yet been proposed or considered by the Canadian Court. What the Asbestos Parties are asking this Court to do is judge a hypothetical plan on its potential lack of protections. There is nothing in the record to suggest that the exact protections, or even better protections, will not be put in place in a plan confirmed by the Canadian Court. There are a number of protections within the CCAA Proceeding absent in Chapter 11, chief among which is the Monitor, the independent officer appointed by the Canadian Court to provide objective oversight and ensure the restructuring is fair and impartial to all stakeholders. Any worries of substantial unfairness due to a plan far from fruition are unfounded, especially given the history of Canadian courts affording creditors 'a full and fair opportunity to be heard in a manner consistent with standards of U.S. due process.'" The Court concludes that the Foreign Representative has satisfied the requirements of Section 1517(a) and has made a proper showing under Section 1521 to extend the stay to the Stay Parties. A copy of the Court's Memorandum Opinion dated October 29, 2025, is available at https://urlcurt.com/u?l=3Ayb8x from PacerMonitor.com. About Asbestos Corp Ltd. Mazarin Inc. and Asbestos Corporation Limited are two natural resource companies whose focus is on the development of industrial minerals in order to provide value-added products that meet the criteria of customers worldwide with regard to performance and economic and ecological concerns. Mazarin's shares trade on the NEX Board of TSX Venture Exchange under the stock symbol MAZ.H. Asbestos Corporation Limited's shares trade on the NEX Board of TSX Venture Exchange under the stock symbol AB.H. Asbestos Corp Ltd. sought relief under Chapter 15 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Case No. 25-10934) on May 6, 2025. The Honorable Bankruptcy Judge Martin Glenn handles the case. The Debtor's foreign representative is represented by Evan C. Hollander, Esq. at ORRICK, HERRINGTON & SUTCLIFFE LLP. Raymond Chabot, Inc. is the Debtor's foreign representative. ATLAS MIDCO: S&P Lowers ICR 'D' From 'CCC' On Debt Restructuring ---------------------------------------------------------------- S&P Global Ratings lowered its issuer credit rating on Atlas Midco Inc. (doing business as Alvaria) to 'D' (default) from 'CCC' even though a legal default has not occurred given that the debt exchange affects substantially all of its capital structure. At the same time, S&P lowered its issue-level ratings on the company's existing debt facilities to 'D'. Alvaria recently reached an agreement with lenders to reduce its outstanding debt balances by nearly 75%. S&P views these transactions as a distressed exchange and tantamount to a default considering lenders will receive less than the original par amount without adequate compensation in return. Alvaria recently announced the completion of a distressed debt exchange with its lender group. The transaction significantly reduces total debt outstanding, cutting debt more than 75%, to less than $225 million from $950 million. The debt exchange also meaningfully reduces interest expense (by about $80 million annually) and introduces newly invested debt capital of about $50 million. Despite the financial relief, S&P lowered its rating on Alvaria to 'D' because it views the transaction as distressed in nature with implications across substantially all of the company's capital structure. AZUL SA: Secures Court OK for Chapter 11 Plan Vote, Creditor Deal ----------------------------------------------------------------- Rick Archer of Law360 Bankruptcy Authority reports that on Tuesday, November 4, 2025, a New York bankruptcy court granted approval for a settlement between Brazil's airline Azul S.A. and its unsecured creditor committee, and moved forward its approximately $2.5 billion equity‑swap Chapter 11 plan for creditor voting. The next step in Azul's restructuring will be the creditor solicitation and voting process, which will determine whether the company proceeds to emerge under the agreed terms or must return to negotiating alternative paths, the report states. About Azul S.A. Azul S.A. (B3: AZUL4, NYSE: AZUL), the largest airline in Brazil by number of flight departures and cities served, offers 900 daily flights to over 150 destinations. With an operating fleet of over 200 aircrafts and more than 15,000 Crewmembers, the Company has a network of 300 non-stop routes. Azul was named by Cirium (leading aviation data analysis company) as the most on-time airline in the world in 2023. In 2020, Azul was awarded best airline in the world by TripAdvisor, the first time a Brazilian flag carrier earned the number one ranking in the Traveler's Choice Awards. On the Web: http://www.voeazul.com.br/imprensa On May 28, 2025, Azul S.A. and 19 affiliated debtors filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code (Bankr. S.D.N.Y. Lead Case No. 25-11176). The cases are pending before Judge Sean H. Lane. The Company is supported by Davis Polk & Wardwell LLP, White & Case LLP, and Pinheiro Neto Advogados as legal counsel; FTI Consulting as financial advisor; Guggenheim Securities, LLC as investment banker; SkyWorks Capital LLC as fleet advisor; and FTI Consulting, C Street Advisory Group, and MassMedia as strategic communications advisors. Stretto is the claims agent. The Participating Lenders are supported by Cleary Gottlieb Steen & Hamilton LLP and Mattos Filho as legal counsel and PJT Partners as investment banker. United Airlines is supported by Hughes Hubbard & Reed LLP and Sidley Austin LLP as legal counsel and Barclays Investment Bank as investment banker. American Airlines is supported by Latham & Watkins LLP as legal counsel. AerCap is supported by Pillsbury Winthrop Shaw Pittman LLP as legal counsel. The U.S. Trustee for Region 2 appointed an official committee to represent unsecured creditors in the Chapter 11 cases. The Committee retained Willkie Farr & Gallagher LLP as its counsel, Alvarez & Marsal North America, LLC, as its financial advisor, Houlihan Lokey Capital, Inc., as its investment banker. BEACON LIGHT: Section 341(a) Meeting of Creditors on Nov. 24 ------------------------------------------------------------ On October 22, 2025, Beacon Light Missionary Baptist Church Inc. filed Chapter 11 protection in the Eastern District of Louisiana. According to court filing, the Debtor reports between $1 million and $10 million in debt owed to 1 and 49 creditors. A meeting of creditors filed by Office of the U.S. Trustee under Section 341(a) to be held on November 24, 2025 at 01:00 PM by Telephone Conference Line: 888-330-1716. Participant Passcode: 8461305. About Beacon Light Missionary Baptist Church Inc. Beacon Light Missionary Baptist Church Inc. is a Christian church providing worship services and community programs from its location at 1937 Mirabeau Avenue in New Orleans, Louisiana. Beacon Light Missionary Baptist Church Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. La. Case No. 25-12399) on October 22, 2025. In its petition, the Debtor reports estimated assets between $500,000 and $1 million and estimated liabilities between $1 million and $10 million. Honorable Bankruptcy Judge Meredith S. Grabill handles the case. The Debtor is represented by Edwin M. Shorty Jr., Esq. of EDWIN M. SHORTY, JR. & ASSOCIATES. BEAUTIFUL CITY: Seeks to Extend Plan Exclusivity to Nov. 14, 2025 ----------------------------------------------------------------- Beautiful City, LLC, asked the U.S. Bankruptcy Court for the Southern District of Illinois to extend its exclusivity periods to file a plan of reorganization to November 14, 2025. The Debtor's exclusive period for submission of a proposed Chapter 11 Plan pursuant to Section 1121(b) of the Bankruptcy Code will expire on October 31, 2025. Counsel for Beautiful City has currently been involved in other matters which have required a substantial amount of time and attention. In addition, the Debtor's proposed plan is dependent on a third party investor. That investor requires additional time to confirm and document it proposal for infusion of cash in the Debtor, whether that infusion takes the form of an asset purchase or some other investment vehicle. Beautiful City LLC is represented by: Steven M. Wallace, Esq. GOLDBERG HELLER & ANTOGNOLI, P.C. 2227 South State Route 157 Edwardsville, IL 62025 Tel: 618-656-5150 E-mail: Steven@ghalaw.com About Beautiful City LLC Beautiful City LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Ill. Case No. 25-60078) on May 11, 2025. In its petition, the Debtor estimated assets up to $50,000 and liabilities between $1 million and $10 million. Bankruptcy Judge Mary E. Lopinot handles the case. The Debtor is represented by Steven M. Wallace, Esq. at GOLDBERG HELLER & ANTOGNOLI, P.C. BEELINE HOLDINGS: Expects to Be Cash-Flow Positive by 2026 Q1 ------------------------------------------------------------- Beeline, the digital mortgage lender built for next-generation homeowners, said Oct. 30, 2025, that it locked 21 loans and just under $8 million in locked volume on October 29th, the same day the Fed announced rate cuts for a second consecutive month setting new highs for the emerging digital lender's leading indicators. Locked loans and locked volume are the strongest indicators for revenue over the next 30 to 45 days. Beeline announced it was debt-free in September, and is trending toward being cash-flow positive by the first quarter of 2026. Beeline's AI-driven proprietary platform is built to quickly scale its business as the market heads into a more favorable environment. "Our key performance indicators are quickly improving which we knew would happen as the market normalized," said Co-founder and CEO Nick Liuzza. "We fought through the worst real estate market in 30 years to put Beeline in a position to capitalize when conditions normalized and here we are as the industry headwinds are turning into tailwinds. While it was a good day, it's only the beginning of a strong run." Earlier in the week the company announced its new fractional sale-of-equity product -- BeelineEquity designed to infuse liquidity into the market for baby boomers and other homeowners looking for debt-free liquidity options. "The past three years haven't been easy, but with our major investments behind us and a dynamic, multi-product lending platform now in place, we're in a strong position. We're offering more non-QM products than many top lenders and large banks to complement our Conventional business and with the launch of our unique equity product, we now have two powerful revenue streams gaining momentum at the same time -- a rare and exciting opportunity," said Jess Kennedy, Co-Founder and COO of Beeline Financial Holdings, Inc. Beeline just wrapped up a meeting at the Centurion One Capital Conference in Nassau, Bahamas where it was the number-one requested company for one-on-one meetings. About Beeline Holdings Beeline Financial Holdings, Inc. is a trailblazing mortgage fintech transforming the way people access property financing. Through its fully digital, Al-powered platform, Beeline delivers a faster, smarter path to home loans-whether for primary residences or investment properties. Headquartered in Providence, Rhode Island, Beeline is reshaping mortgage origination with speed, simplicity, and transparency at its core. The company is a wholly owned subsidiary of Beeline Holdings and also operates Beeline Labs, its innovation arm focused on next-generation lending solutions. Boca Raton, Florida-based Salberg & Company, P.A., the Company's auditor since 2024, issued a "going concern" qualification in its report dated April 15, 2025, attached to the Company's Annual Report on Form 10-K for the year ended December 31, 2024, citing that the Company has incurred recurring losses and negative cash flows from operations since its inception, has a significant working capital deficit, and is dependent on debt and equity financing. These matters raise substantial doubt about the Company's ability to continue as a going concern. As of Dec. 31, 2024, the Company had $66.5 million in total assets, against $17.5 million in total liabilities. As of June 30, 2025, the Company had $68.57 million in total assets, against $13.02 million in total liabilities. BEL TEMPO: Unsecured Creditors to Split $100K in Plan ----------------------------------------------------- Bel Tempo LLC filed with the U.S. Bankruptcy Court for the District of Arizona a Disclosure Statement describing Chapter 11 Plan dated October 28, 2025. Bel Tempo owns a 2,327-square foot express car wash located at 5701 South 12th Avenue, in Tucson, Arizona, which includes an 80-foot express wash tunnel, 18 vacuum stations and a vending area (the "Property"). The facility was built in 2020. The car wash ceased operations in March 2025. Since the Petition Date, Debtor has remained in possession of the property. Up until 2025, Evo DeConcini was the sole managing member and majority owner of Bel Tempo, owning no less than 90% of the enterprise. Throughout that time, Evo DeConcini exercised near exclusive control over Bel Tempo's business operations in that role, running the company and managing its finances. However, on June 27, 2025, Evo DeConcini assigned his interest in Bel Tempo to Robert Taylor, alluding to the minority members that he was simply checking out with the intent to file for personal bankruptcy. Prior to that date, Robert Taylor had not held more than a 3.425% interest in the company, and Michael Morgan had not held more than 6.575% interest. During that time, both were simply passive investors in the company. In summary, the Schedules reflect the Property and its associated assets, the car wash facility, fixtures and equipment. Debtor retained Randy Clemson of Matthew Kidder to provide an expert appraisal report concerning the value of the Property. The appraisal valued the car wash at $2,060,000. The goal of the Plan is to provide for the surrender of Debtor's Property in full satisfaction of the NBAZ's secured claims and to provide for cash contributions by Debtor's minority equity holders in the amount of $100,000.00 to be paid to the unsecured class and allocated among all allowed unsecured claims pro rata. After Debtor's surrender of collateral and payment of unsecured claims under this Plan, Debtor shall dissolve and wind up its activities and affairs pursuant to applicable state law. Class 3 consists of General Unsecured Claims. This Class is estimated based on Debtor's Amended Schedule F at $2,847,947. Excluding disputed claims, and excluding a deficiency from Class 3, the estimate is $2,496,999. Debtor's minority equity holders will pay $100,000.00 to this unsecured class to be allocated among all Class 3 Claims pro rata to be paid on the Effective Date. All remaining amounts of Class 3 Claims shall be discharged. Payments shall be made on the Distribution Date. Class 3 is impaired. Class 4 consists of Ownership Interest in Bel Tempo. Michael Morgan and Robert Taylor, the two remaining members of Bel Tempo, shall contribute $100,000.00 to be paid to the unsecured class on the Effective Date. After Debtor's surrender of collateral to NBAZ and payment of allowed unsecured claims under this Plan, Debtor shall dissolve and wind up its activities and affairs pursuant to applicable state law. Class 4 is impaired. On the Effective Date, Michael Morgan and Robert Taylor shall contribute $100,000 to Debtor in cash-equivalent contributions to the Reorganized Debtor for the payment of unsecured creditors to be allocated among allowed unsecured claims on a pro rata basis. Further, the Reorganized Debtor shall retain all rights to collect and distribute any recovery under a pre-petition judgment under which Debtor is the judgment creditor, or for which a judgment creditor's rights have been assigned to Debtor. If any Causes of Action remain after the Effective Date, they will be sold or assigned. A full-text copy of the Disclosure Statement dated October 28, 2025 is available at https://urlcurt.com/u?l=GnUM4C from PacerMonitor.com at no charge. Counsel to the Debtor: John C. Smith, Esq. Rusing Lopez & Lizardi, PLLC 6363 N Swan Rd #151 Tucson, AZ 85718 Phone: (520) 792-4800 Facsimile: (520) 529-4262 About Bel Tempo LLC Bel Tempo, LLC, is a real estate holding company whose principal asset is a commercial property located at 5701 South 12th Avenue in Tucson, Arizona. Bel Tempo sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Ariz. Case No. 25-06002) on June 30, 2025. In its petition, the Debtor reported between $1 million and $10 million in assets and liabilities. Judge Brenda Moody Whinery oversees the case. The Debtor is represented by John C. Smith, Esq., at Rusing Lopez & Lizardi, PLLC. BHOWMICK LIQUOR: Claims to be Paid from Continued Operations ------------------------------------------------------------ Bhowmick Liquor, Inc., filed with the U.S. Bankruptcy Court for the District of Colorado a Plan of Reorganization under Subchapter V dated October 27, 2025. The Debtor operates a liquor store under the name Norman's Liquor in Lakewood, Colorado. With respect to insiders, the Debtor paid Koyeli Bowmick, the spouse of the President, $9,750 in pay for work at the liquor store. The Debtor paid its President, Sanjib Bhowmick, $65,595.00 in during the one year look back period for work at the liquor store. The Debtor filed bankruptcy for two primary reasons. First, the Debtor was facing aggressive litigation and collection tactics from a creditor. Second, the Colorado liquor laws have changed to allow for grocery outlets to compete with the Debtor, negatively impacting its business operations. Class 5 consists of general unsecured creditors of the Debtor who hold Allowed Claims. Class 5 shall receive payment of their Allowed Claims: * Upon the first full month after the Effective Date of the Plan and every month thereafter for the Term of the Plan the Debtor will deposit $1,000 into the Unsecured Creditor Account. At the end of each calendar quarter (except that the final payment under the Plan shall be made at least one week before the five years from the Effective Date) the balance of the Unsecured Creditor Account will be distributed to the holders of Allowed Administrative Claims on a Pro Rata basis until such time as all holders of Allowed Administrative Claims have been paid in full and then to Tax Claims until paid in full and then will be distributed to Class 5 general unsecured creditors that hold Allowed Claims on a Pro Rata basis. * All funds recovered by the Debtor on account of Avoidance Actions shall be distributed to Allowed Administrative Claims until paid in full and then to Tax Claims and then to Class 5, net of attorneys' fees and costs. Whether or not the Debtor pursues any Avoidance Actions shall be up to the Debtor and the decision to pursue such claims shall be discretionary with the Debtor. Class 6 includes the Interests in the Debtor, which Interests are unimpaired by the Plan. Upon confirmation of the Plan, all Class 6 Interest holders will retain their ownership Interests in the Debtor. The Debtor shall be empowered to take such action as may be necessary to perform its obligations under this Plan. On the Effective Date of the Plan, the Debtor will open a separate interest-bearing deposit account at a federally insured commercial bank selected by the Debtor. The bank account will be maintained by the Debtor as the Unsecured Creditor Account into which all payments made by the Debtor for the benefit of holders of Allowed Administrative Claims, Tax Claims and Class 5 creditors will be made until the obligations under the Plan are completed. The Debtor believes that the Plan, as proposed, is feasible. The funding for the Plan will come from the Debtor's continued operations. As detailed in the Projections, the Debtor will have sufficient profits during the term of the Plan to satisfy its Plan obligations. A full-text copy of the Subchapter V Plan dated October 27, 2025 is available at https://urlcurt.com/u?l=5wo600 from PacerMonitor.com at no charge. Counsel to the Debtor: Aaron A. Garber, Esq. Wadsworth Garber Warner Conrardy, P.C. 2580 West Main Street, Suite 200 Littleton, CO 80120 Tel: (303) 296-1999 Fax: (303) 296-7600 Email: agarber@wgwc-law.com About Bhowmick Liquor Bhowmick Liquor Inc. operates a liquor store under the name Norman's Liquor in Lakewood, Colorado. The Debtor filed a petition for relief under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. D. Colo. Case No. 25-14811) on July 31, 2025, with $500,001 to $1 million in assets and liabilities. Judge Kimberley H. Tyson presides over the case. Wadsworth Garber Warner Conrardy, P.C., serves as the Debtor's bankruptcy counsel. BLEND COFFEE: Case Summary & One Unsecured Creditor --------------------------------------------------- Eleven affiliates that concurrently filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code: Debtor Case No. ------ -------- The Blend Coffee 1 LLC (Lead Case) 25-08269 1211 4th Street North Saint Petersburg, FL 33701 The Blend Coffee 2 LLC 25-08270 The Blend Coffee 3 LLC 25-08272 The Blend Coffee 4 LLC 25-08274 The Blend Coffee 5 LLC 25-08275 The Blend Coffee 6 LLC 25-08276 The Blend Coffee 7 LLC 25-08278 The Blend Coffee 8 LLC 25-08279 The Blend Coffee 9 LLC 25-08280 The Blend Coffee 10 LLC 25-08282 The Blend Coffee 14 LLC 25-08283 Business Description: The Blend Coffee group comprises multiple affiliated limited liability companies under common ownership and control that operate coffeehouse and cocktail venues in St. Petersburg, Florida. The group provides espresso-based beverages, coffee flights, and mixed drinks across several locations. It functions as an integrated hospitality business with shared financial, administrative, and operational systems. Chapter 11 Petition Date: November 4, 2025 Court: United States Bankruptcy Court Middle District of Florida Judge: Hon. Roberta A Colton Debtors' Bankruptcy Counsel: Amy Denton Mayer, Esq. BERGER SINGERMAN LLP 101 E. Kennedy Boulevard Suite 1165 Tampa, FL 33602 Tel: (813) 498-3400 Email: amayer@bergersingerman.com Lead Debtor's Estimated Assets: $0 to $50,000 Lead Debtor's Estimated Liabilities: $500,000 to $1 million The petitions were signed by Stacha Madsen as Sole Shareholder of The Blend Enterprises Inc., as Sole Member of The Blend Holdings, LLC, as Sole Member of the Debtor. The Blend Coffee 1 LLC listed Noordstar Development LLC, the landlord of its premises at 816 3rd Avenue South in St. Petersburg, Florida, as its only unsecured creditor, holding a claim of $8,966. Full-text copies of four of the Debtors' petitions are available for free on PacerMonitor at: https://www.pacermonitor.com/view/F5E374Q/The_Blend_Coffee_1_LLC__flmbke-25-08269__0001.0.pdf?mcid=tGE4TAMA https://www.pacermonitor.com/view/4Y4HN6I/The_Blend_Coffee_2_LLC__flmbke-25-08270__0001.0.pdf?mcid=tGE4TAMA https://www.pacermonitor.com/view/FU3TX7Q/The_Blend_Coffee_3_LLC__flmbke-25-08272__0001.0.pdf?mcid=tGE4TAMA https://www.pacermonitor.com/view/KMALFEI/The_Blend_Coffee_4_LLC__flmbke-25-08274__0001.0.pdf?mcid=tGE4TAMA BOREN INC: Case Summary & 10 Unsecured Creditors ------------------------------------------------ Debtor: Boren, Inc. DBA Fitness 1440 411 Metroplex Dr. Nashville, TN 37211 Case No.: 25-04621 Business Description: Boren, Inc., doing business as Fitness 1440, operates multi-level fitness centers in Nashville, Tennessee, offering 24/7 gym access, swimming pools, saunas, personal training, group fitness classes, and other wellness amenities. The Company provides membership services with access to multiple locations and specialized fitness equipment. Chapter 11 Petition Date: October 31, 2025 Court: United States Bankruptcy Court Middle District of Tennessee Judge: Hon. Charles M. Walker Debtor's Counsel: Michelle L. Spezia, Esq. JOHNSON LEGAL, PLLC 302 42nd Ave. N Nashville, TN 37209 Tel: 615-386-0075 Fax: 615-864-8419 Email: ecfmail@tennessee-bankruptcy.com Estimated Assets: $100,000 to $500,000 Estimated Liabilities: $1 million to $10 million The petition was signed by Nelson Boren, Jr. as regional manager. A full-text copy of the petition, which includes a list of the Debtor's 10 unsecured creditors, is available for free at PacerMonitor.com at https://urlcurt.com/u?l=XALFj BOWERS TRUCKING: Taps Ampleo Turnaround as Accountant ----------------------------------------------------- Bowers Trucking, Inc. seeks approval from the U.S. Bankruptcy Court for the Western District of Oklahoma to employ Matthew R. McKinlay and Ampleo Turnaround & Restructuring LLC to serve as its accountant and restructuring advisor in its Chapter 11 case. Ampleo will provide these services: (a) financial and accounting services; (b) turnaround and restructuring services; (c) manage short-term cash, including implementation of a 13-week cash forecast and measure actual performance against budget on a weekly basis; (d) prepare a restructuring plan with forecasted economics for 12 and 24 months; (e) conduct a liquidation analysis to determine whether a restructuring plan maximizes creditor recoveries; (f) work with the Debtor and its counsel to prepare a confirmable plan and disclosure statement; (g) communicate with creditors, equity holders, and other stakeholders as appropriate; (h) implement and execute the plan, keeping stakeholders informed of progress; (i) assist in the preparation of monthly operating reports and other court pleadings as necessary; (j) manage monthly bookkeeping, bank reconciliations, accrual entries, and maintain accounts payable and receivable systems; (k) oversee transition from cash to accrual-based accounting and design monthly reporting packages; and (l) perform other related accounting and financial oversight tasks as requested by the Debtor. Ampleo will be compensated at an hourly and fixed-cost basis: T&R Restructuring Lead $325 per hour T&R Partner $365 per hour Accountant $2,000 per month (fixed cost) CFO $2,000 per month (fixed cost), plus a one-time $5,000 fee for model development Ampleo will also be reimbursed for reasonable out-of-pocket expenses, including travel and lodging, without markup or overhead charges. No retainer is required for this engagement. According to court filings, Matthew R. McKinlay has certified that he holds no interest adverse to the estate and is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code. The firm can be reached at: Matthew R. McKinlay, CMA, CTP Ampleo Turnaround & Restructuring LLC 13601 W. McMillan Rd #102 PMB 320 Boise, ID 83713 Telephone: (208) 724-2257 About Bowers Trucking Inc. Bowers Trucking, Inc. is a commercial transportation company operating in 48 U.S. states and Canada. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Okla. Case No. 25-12884) on September 18, 2025. In the petition signed by Garrett Bowers, chief executive officer, the Debtor disclosed up to $10 million in both assets and liabilities. Judge Janice D. Loyd oversees the case. Stephen J. Moriarty, Esq., at Stephen J. Moriarty 6410 Fellers, Snider et al, represents the Debtor as legal counsel. BRIGHT AUTO: Case Summary & Two Largest Unsecured Creditors ----------------------------------------------------------- Debtor: Bright Auto World LLC 4507 Carmen St. Chino, CA 91710 Case No.: 25-17950 Business Description: Bright Auto World LLC owns and operates an automobile dealership at 109 Commerce Court in Rincon, Georgia, and is classified under NAICS 4411 as a single-asset real estate entity managing the dealership property, valued at approximately $1.8 million. Chapter 11 Petition Date: November 3, 2025 Court: United States Bankruptcy Court Central District of California Judge: Hon. Magdalena Reyes Bordeaux Debtor's Counsel: Derrick Talerico, Esq. WEINTRAUB, ZOLKIN TALERICO & SELTH LLP 11766 Wilshire Blvd Suite 730 Los Angeles CA 90025 Tel: (424) 500-8552 Email: dtalerico@wztslaw.com Total Assets: $1,800,000 Total Liabilities: $963,655 The petition was signed by Sokhim Lay as manager and member. A full-text copy of the petition, which includes a list of the Debtor's two unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/YUTIS4I/Bright_Auto_World_LLC__cacbke-25-17950__0001.0.pdf?mcid=tGE4TAMA BROTHER JOHN'S: Gets Interim OK to Use Cash Collateral ------------------------------------------------------ The U.S. Bankruptcy Court for the District of Arizona entered an interim order authorizing Brother John's BBQ, LLC to use cash collateral to fund operations. The Debtor was authorized to use cash collateral consistent with its budget, which was updated to address concerns raised by the court and the subchapter V trustee. The budget shows total operational expenses of $80,161 for October; $81,716 for November; and $83,200 for December. As adequate protection, any creditor holding a valid pre-bankruptcy lien will receive a replacement lien on the same type of assets acquired by the Debtor post-petition, with the same validity and priority as the pre-bankruptcy lien. A final hearing is scheduled for November 18. Objections are due by November 10. A UCC lien search has revealed these creditors filed UCCs against the Debtor: the U.S. Small Business Administration, Corporation Service Company and C T Corporation System. The Debtor is reaching out to these lenders to determine their status and whether an adequate protection payment to them is warranted. About Brother John's BBQ LLC Brother John's BBQ, LLC operates a restaurant, an event catering business, and a commercial kitchen. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Ariz. Case No. 25-09288) on September 30, 2025. In the petition signed by David Aldecoa, managing member, the Debtor disclosed $500,001 to $1 million in both assets and liabilities. Jody A. Corrales, Esq., at DeConcini McDonald Yetwin & Lacy, P.C., represents the Debtor as legal counsel. CENTER FOR SPECIAL: To Sell Artspace's Property to SicEm Props -------------------------------------------------------------- Michael Goldberg, the Chapter 11 Trustee of The Center for Special Needs Trust Administration Inc., seeks approval from the U.S. Bankruptcy Court for the Middle District of Florida, Tampa Division, to sell real property owned by Artspace Properties LLC, a Florida limited liability company, free and clear of liens, claims, interests, and encumbrances. The Debtor Appoints William A. Long, Jr. as Chief Restructuring Officer of Artspace Properties, LLC. The Debtor is a 501(c)(3) non-profit Florida corporation that administers pooled trusts and special needs trusts. The Debtor is the trustee or co-trustee of numerous special needs trusts, including both stand-alone trusts and pooled trusts for approximately 2,000 beneficiaries who suffer from various levels of disability. The Debtor's primary service as trustee of the Trusts is to manage the Trusts, maintain records for assets managed by third party investment managers, respond to request for distributions from Beneficiaries, and make distributions in a manner that still ensures that the applicable beneficiary meets the income and asset thresholds to qualify for certain public assistance benefits, such as Medicaid, Social Security, or Supplemental Security Income. The Debtor’s services help to ensure that Beneficiaries maintain their qualification for these critical public assistance benefits. The Debtor was initially established by Leo Govoni, who served on the Debtor's Board of Directors until he resigned in 2008 or early to mid-2009. However following his resignation, Govoni allegedly continued to control and exert his influence over the Debtor's operation and finances through a web of corporate entities. The Chapter 11 Trustee, through its Final Judgment against Boston Finance Group, LLC (BFG), has established that BFG received numerous transfers of funds from the Debtor totaling well over $100 million between 2009 and 2020. The funds utilized to make these transfers were allegedly taken from over 1,000 Trusts managed by the Debtor and the transfers were documented as a purported loan from the Debtor to BFG. BFG transferred at least $1,554,252.52 of Debtor funds to Artspace or paid others on behalf of Artspace starting on March 23, 2013 which funds were used by Artspace to purchase/maintain real property, including property located at 13851 Lake Point Dr. Pinellas County, Florida 33762. On March 19, 2025, upon the consent of Govoni, the Trustee sought and obtained an order appointing Nperspective Advisory Services, LLC and William A. Long, Jr. as Restructuring Advisor and Chief Restructuring Officer of Global Litigation Consultants, LLC, Boston Settlement Group, LLC, and Boston Asset Management, Inc in the adversary filed against Govoni and Boston Finance Group LLC. On April 11, 2025, the secured creditor initiated foreclosure proceedings against Artspace. The Secured Creditor asserts in the Foreclosure Action a total due as of April 7, 2025 on the note and mortgage of $781,191.93 accruing interest at $373.31 per diem. The Chapter 11 Trustee, through Mr. Long, has received an offer to purchase the Real Property for a total purchase price of $310,000 from an entity by the name of SicEm Props LLC. Net sale proceeds from the proposed sale will go to the Secured Creditor to satisfy their secured claim, with any net proceeds to be received by the Debtor's estate. The estimated closing costs for the proposed transaction are expected to total $10,000. The Chapter 11 Trustee believes that the acquisition of the Real Property was funded, in whole or in part, using funds that were held and/or owned by the Debtor. Mr. Goldberg is authorized to sell the Real Property, as he is now the sole member of Artspace. Thus, the Chapter 11 Trustee requests that the Court enter an order approving the sale of the Real Property. About The Center for Special Needs Trust Administration The Center for Special Needs Trust Administration, Inc. filed Chapter 11 petition (Bankr. M.D. Fla. Case No. 24-00676) on Feb. 9, 2024, with $100 million to $500 million in both assets and liabilities. Judge Roberta A. Colton oversees the case. Scott A. Stichter, Esq., at Stichter, Riedel, Blain & Postler, PA is the Debtor's legal counsel. On March 4, 2024, the U.S. Trustee appointed an official committee of unsecured creditors in this Chapter 11 case. The committee tapped Underwood Murray, PA as bankruptcy counsel and Gilbert Garcia Group, PA as special counsel. CENTURY DESIGN: Court Extends Cash Collateral Access to Nov. 13 --------------------------------------------------------------- The U.S. Bankruptcy Court for the Southern District of California entered an interim order authorizing Century Design, Inc., the debtor-in-possession, to use cash collateral through November 13. The interim order authorized the Debtor to use cash collateral to pay expenses in accordance with its budget. The Debtor may deviate from the budget by up to 10% per line item without further court approval. Any unspent funds from a particular category must be reallocated or carried forward with court approval. The creditors with security interest in the cash collateral include the California Bank of Commerce and Exim Bank. As adequate protection, these secured creditors will be granted a replacement lien on all post-petition assets of the same type and extent as their pre-bankruptcy liens. As additional protection, California Bank of Commerce will receive monthly payments of $2,000 for October and $4,000 for November. The secured creditors are not required to file any new financing statements or liens for this replacement interest, as their security interests are deemed valid and automatically perfected. A final hearing is set for November 10. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/4OkY6 from PacerMonitor.com. About Century Design Inc. Century Design Inc. designs and manufactures composite processing machinery for industries including aerospace, defense, automotive, marine, medical, sports, energy, and industrial applications. It develops equipment for prepreg production, resin development, ducting, hoses, and tubular structures, serving customers engaged in research, manufacturing, and product development worldwide. Founded in 1959, Century Design has supplied thousands of machines globally and contributed to advances in materials processing technologies. Century Design sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Cal. Case No. 25-03975) on September 26, 2025, listing total assets of $174,341 and total liabilities of $1,536,142. Jeanne Goddard, a certified public accountant at NGS, LLP, serves as Subchapter V trustee. Judge Christopher B. Latham oversees the case. The Debtor is represented by Michael Jay Berger, Esq., at the Law Offices of Michael Jay Berger. CHEER ATHLETICS-PLANO: Voluntary Chapter 11 Case Summary -------------------------------------------------------- Debtor: Cheer Athletics-Plano, Inc. 3712 E. Plano Parkway Plano, TX 75074 Case No.: 25-43320 Business Description: Cheer Athletics-Plano, Inc. operates a competitive cheerleading and tumbling training facility in Plano, Texas. The Company offers programs ranging from beginner-level cheer and tumbling instruction to elite all-star teams, providing youth athletes with training in stunts, dance, and performance preparation. It functions as part of the Cheer Athletics franchise network, which runs independently operated gyms across multiple U.S. states. Chapter 11 Petition Date: November 2, 2025 Court: United States Bankruptcy Court Eastern District of Texas Judge: Hon. Brenda T. Rhoades Debtor's Counsel: Gregory Mitchell, Esq. THE MITCHELL LAW FIRM, L.P. 1100 W. Campbell Road Suite 200 Richardson TX 75080 Email: greg@mitchellps.com Estimated Assets: $0 to $50,000 Estimated Liabilities: $1 million to $10 million The petition was signed by Joseph K. Melton as owner. The petition was filed without the Debtor's list of its 20 largest unsecured creditors. A full-text copy of the petition is available for free at PacerMonitor.com at https://urlcurt.com/u?l=XtIhzM CK BUILDERS: To Sell San Antonio Property to Triple T Holding ------------------------------------------------------------- CK Builders LLC seeks permission from the U.S. Bankruptcy Court for the Western District of Texas, San Antonio Division, to sell Property, free and clear of liens, claims, interests, and encumbrances. The Asset proposed to be sold is the real property and improvements described as 5407 Copperhead, San Antonio, Texas. he Property is in need of repair. As a result, it is not rented and costing the estate money for insurance, maintenance and taxes, while the condition of the property is deteriorating. The real property is subject to a Deed of Trust lien to Citizens State Bank, which filed a secured Proof of Claim on September 3, 2025 in the amount of $616,744.44. The Bexar Appraisal District values the real property in the following amount - 5407 Copperhead ($83,000) for 2025. The Debtor has been unable to lease the real property due to its declining condition. The real property needs repairs that the Debtor does not have the funds to undertake. The Debtor believes that the proposed sale of the real property to Triple T Holding Group LLC for the cash sales price of $45,000 represents a fair price for the real property. The sale is a cash sale and not subject to financing requirements. The Debtor has been using its best efforts to sell the real property, which will generate cash to pay down its debt to Citizens State Bank. The sale is scheduled to close on or before November 14, 2025, The Debtor believes that the proposed sale of the real property generates a reasonable value based upon the asset proposed to be sold and its marketability/condition under the circumstances of the case. The Debtor will use the sales proceeds to pay down its debt to Citizens State Bank, which will assist the Debtor with confirming its Subchapter V Plan. The Ad valorem taxes to Bexar County will be paid in full from the sales proceeds. The Debtor asserts that the sale proposed is in good faith and in the best interest of the Debtor and its creditors. About CK Builders LLC CK Builders, LLC provides home improvement and general contracting services in the Pipe Creek and San Antonio areas of Texas. The Company holds a home improvement contractor license and has completed various residential remodeling and repair projects. CK Builders sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Tex. Case No. 25-51458) on June 30, 2025. In its petition, the Debtor reported between $1 million and $10 million in assets and up to $50,000 in liabilities. Judge Craig A. Gargotta handles the case. The Debtor is represented by William R. Davis, Jr., at Langley & Banack, Inc. CLB TRUCKING: To Sell Equipment to Forge Truck for $140K -------------------------------------------------------- CLB Trucking Inc. seeks approval from the U.S. Bankruptcy Court for the Western District of Pennsylvania, to sell Equipment, free and clear of liens, claims, interests, and encumbrances. The Debtor owned certain equipment, a 2018 Peterbilt 389, VIN: 1NPXGGGG80D274568, which was located at 38 Christy Road, Delmont, PA 15626. (2018 Peterbilt). Prior to filing its bankruptcy case, the Debtor was exploring all options to reorganize its debt obligations, including the sale of non-essential equipment. Despite the Debtor being informed that any sale of equipment would need prior Court approval, on or about October 9, 2025, Debtor sold its 2018 Peterbilt to an unrelated and otherwise disinterested third party, Forge Truck Centers for $140,000.00. By all accounts, Buyer was a good faith purchaser who was unaware of Debtor's bankruptcy case. The Debtor has communicated to the Sub Chapter V Trustee and Debtor’s Counsel that the reason the sale was concluded without prior Court approval was due to unsophistication and confusion regarding the Chapter 11 process. The Debtor avers that the purchase price of $140,000.00 was for fair market value and was an arms-length transaction. Debtor further alleges that the 2018 Peterbilt had been marketed prior to the case filing, and no other offers were received. The unintended consequences of Debtor’s unapproved sale of the 2018 Peterbilt ultimately have improved Debtor’s standing to proceed with a reorganization by reducing costs by selling unnecessary equipment not in use, and by also generating funds to assist in a successful reorganization. The Debtor’s bankruptcy estate has improved by virtue of the sale, and Debtor contends that the sale was for the benefit of the bankruptcy estate, creditors and all parties in interest. Nevertheless, Debtor deeply regrets this misstep and according to the Sub Chapter V Trustee was “panicked” upon hearing from him that the proper sale process was not followed. The Debtor is now seeking approval of this sale nunc pro tunc. Debtor asserts that the Buyer has acted in good faith with respect to the within sale. To the best of Debtor’s knowledge, Buyer has no connection to any creditor in this case or any other interested party and further represents no interest adverse to the Chapter 11 estate. The Debtor seeks an entry of an Order of Court approving the sale of the 2018 Peterbilt to Forge Truck Centers free and clear of all liens and encumbrances. About CLB Trucking Inc. CLB Trucking, Inc., based in Greensburg, Pennsylvania, provides interstate trucking services specializing in the transport of metals, coal, asphalt, and dry bulk commodities. The Company operates a fleet of trucks and trailers to serve industrial clients in the region and beyond. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Pa. Case No. 25-22144) on August 15, 2025. In the petition signed by Traci L. Peters, owner, the Debtor disclosed up to $500,000 in assets and up to $10 million in liabilities. Brian C. Thompson, Esq., at Thompson Law Group, P.C., represents the Debtor as bankruptcy counsel. CLNG HOMES: To Sell Huntington Way Property to Bradford Paul Beers ------------------------------------------------------------------ CLNG Homes LLC seeks permission from the U.S. Bankruptcy Court for the Middle District of Florida, Jacksonville Division, to sell Property, free and clear of liens, claims, interests, and encumbrances. The Debtor is a real estate development company which has operated in the North East Florida area for the past 3 years. The Debtor owns approximately 23 parcels of real estate in the Duval, Clay and Nassau county area. The Debtor has always been owned by Christopher Lam as the 100% shareholder. However, there is currently pending before the Court a motion to dismiss by an alleged 50% shareholder. On September 8, 2025, the Debtor entered into a Purchase and Sale Agreement with Bradford Paul Beers to sell the 2576 Huntington Way Property. The terms of the agreement to sell to the Purchaser are that the Purchaser will pay the gross sales price of $535,000.00. The property sale was to close on September 30, 2025. The Debtor believed that lien balances on the real property totaled approximately $470,791 as estimated by the Debtor. However, title search payoff(s) received by the Debtor prior to the closing indicated that the following liens were in existence to this particular parcel of real property: $405,217.51 – FCI Lender Services $19,162.45 – Builders FirstSource $27,185.85 – Custom Concrete $7,870.29 – Law office Cobb Gonzalez $33,125.00 – Shaw Land Properties LLC $5,973.00 – Mechanical One The Debtor will incur $21,400 in realtor fees to close the transaction. The Debtor has determined that a sale of the assets of the company assets would result in an efficient and cost-effective manner of disposing of the estate's interest in the assets, while simultaneously creating a benefit to the bankruptcy estate and customers of the Debtor. The sale of the real property was due to close on September 30, 2025. However, the Debtor did not close the sale due to the lien payoffs and other charges exceeding the value of the sale price. The contemplated transaction is an arms-length transaction, and the Purchaser is not an insider of the Debtor. The Purchaser has already deposited $30,000 with the escrow agent. About CLNG Homes CLNG Homes, LLC filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. M.D. Fla. Case No. 25-03106) on September 5, 2025, listing up to $50,000 in assets and liabilities. The Debtor tapped Bryan K. Mickler, Esq., at the Law Offices of Mickler & Mickler, LLP as counsel and David W. Hicks, CPA, at Hicks & Associates CPAs, PLLC as accountant. COMMSCOPE HOLDING: Vanguard Group Holds 8.78% Equity Stake ---------------------------------------------------------- The Vanguard Group, disclosed in a Schedule 13G (Amendment No. 10) filed with the U.S. Securities and Exchange Commission that as of September 30, 2025, it beneficially owns 19,459,292 shares of common stock, consisting of 17,624,371 shares over which it has sole dispositive power and 1,834,921 shares over which it has shared dispositive power, of CommScope Holding Co Inc's common stock, representing approximately 8.78% based on outstanding shares reported by the Company. The Vanguard Group may be reached through: Ashley Grim Head of Global Fund Administration The Vanguard Group 100 Vanguard Blvd., Malvern, Pa. 19355 Tel: 610-669-1000 A full-text copy of The Vanguard Group's SEC report is available at ttps://tinyurl.com/yt4mut4j About CommScope Holding Headquartered in Hickory, North Carolina, CommScope Holding Company, Inc. -- https://www.commscope.com -- is a global provider of infrastructure solutions for communication, data center, and entertainment networks. The Company's solutions for wired and wireless networks enable service providers, including cable, telephone, and digital broadcast satellite operators, as well as media programmers, to deliver media, voice, Internet Protocol (IP) data services, and Wi-Fi to their subscribers. This allows enterprises to experience constant wireless and wired connectivity across complex and varied networking environments. As of September 30, 2025, the Company had $7.94 billion in total assets, $9.01 billion in total liabilities, and $2.34 billion in total stockholders' deficit. The Company had an accumulated deficit of $4.4 billion as of September 30, 2025. * * * S&P Global Ratings placed its 'CCC+' issuer credit rating on network connectivity provider CommScope Holdings Co. Inc. on CreditWatch with positive implications., as reported by the TCR on Aug. 07, 2025. S&P said, "We will resolve the CreditWatch placement after we collect the necessary information about CommScope's new capital structure, operating strategy, financial outlook, and financial policy, potentially upgrading the issuer credit rating by more than one notch." In March 2025, Moody's Ratings upgraded CommScope Holding Company, Inc.'s ratings including the corporate family rating to Caa1 from Caa2 and the probability of default rating to Caa1-PD from Caa3-PD. CommScope's speculative grade liquidity (SGL) rating was upgraded to SGL-3 from SGL-4. The new backed senior secured term loan and backed senior secured notes issued in December 2024 at CommScope's subsidiary, CommScope, LLC. were assigned a B3 rating and the existing secured notes were confirmed at B3. The existing senior unsecured notes at CommScope, LLC and CommScope Technologies LLC were upgraded to Caa3 from Ca. The B3 rating on the backed senior secured term loan due 2026 was withdrawn. The outlook is stable, previously the ratings were on review for upgrade. These actions conclude the review for upgrade that was initiated on January 8, 2025. The ratings upgrade reflects the refinancing of debt due in 2025 and 2026 with a combination of about $2.1 billion in assets sale proceeds and $4.15 billion in new secured debt as well as Moody's expectations for a significant improvement in operating performance that will lead to a reduction in leverage levels well below 9x in 2025. The ratings are constrained by the existing high pro forma leverage (over 10x as of Q4 2024, including Moody's standard lease adjustments) and the significant amount of debt due in 2027 ($1.6 billion as of Q4 2024). COMMUNITY HEALTH: Selling Tennova Stake for $600 Million -------------------------------------------------------- Community Health Systems, Inc. disclosed in a Form 8-K Report filed with the U.S. Securities and Exchange Commission that on October 30, 2025, CHS/Community Health Systems, Inc., a wholly-owned subsidiary of the Company, and a subsidiary of CHS -- CHS Selling Entity -- entered into a Purchase Agreement with Vanderbilt University Medical Center and certain of its subsidiaries, Clarksville Health System, G.P., and Clarksville Physician Services, G.P. -- Joint Ventures. Pursuant to the Purchase Agreement, and subject to the terms and conditions set forth therein, Purchaser has agreed to acquire the CHS Selling Entity's 80% ownership interest in each of the Joint Ventures, which respectively own and operate Tennova Healthcare - Clarksville and certain ancillary businesses in Clarksville, Tennessee. The total purchase price payable by Purchaser to the CHS Selling Entity at the closing of the Transaction is $600 million, subject to adjustment based on the closing net working capital and the closing balance of amounts due to the Joint Ventures from CHS. Purchaser currently holds a minority ownership interest in each of the Joint Ventures and will purchase the remaining ownership interests in these Joint Ventures through the Transaction. The Purchase Agreement contains various representations, warranties and covenants made by the parties. The Purchase Agreement also provides for indemnification by the parties with respect to breaches of representations, warranties and covenants by such parties, as well as with respect to certain other indemnifiable matters specified in the Purchase Agreement. The closing of the Transaction is subject to the satisfaction or waiver of certain closing conditions set forth in the Purchase Agreement. Consummation of the Transaction is expected to occur in early 2026, subject to regulatory approvals and closing conditions. Leerink Partners is acting as exclusive financial advisor to the Company for the transaction. The Purchase Agreement may be terminated by either party under certain circumstances set forth in the Purchase Agreement, including if the Transaction is not consummated on or before December 31, 2026. The Purchase Agreement provides that, at closing, the parties, and/or their respective affiliates, would enter into certain ancillary agreements, including one or more transition services agreements under which CHS and/or its affiliate(s) would provide certain information technology and operational transition services to Purchaser for a period of time following the closing. SELLER: CLARKSVILLE HOLDINGS, LLC Name: R. Gabriel Ottinger Title: Senior Vice President and Treasurer CHS: CHS/COMMUNITY HEALTH SYSTEMS, INC. Name: R. Gabriel Ottinger Title: Senior Vice President and Treasurer BUYER: VANDERBILT MONTGOMERY HOLDINGS, LLC Name: C. Wright Pinson, M.D., M.B.A. Title: President VUMC: VANDERBILT UNIVERSITY MEDICAL CENTER Name: Jane E. Freedman, M.D. Title: Deputy Chief Executive Officer HEALTH SYSTEM PARTNERSHIP: CLARKSVILLE HEALTH SYSTEM, G.P. Name: Andrew Emery Title: Hospital CEO PHYSICIAN PRACTICE PARTNERSHIP: CLARKSVILLE PHYSICIAN SERVICES, G.P. Name: Andrew Emery Title: Hospital CEO A full-text copy of the Purchase Agreement is available at https://tinyurl.com/3e3xdrhy About Community Health Systems Inc. Community Health Systems, Inc. -- http://www.chs.net/-- is a publicly traded hospital company and an operator of general acute care hospitals in communities across the country. Its affiliates provide healthcare services, developing and operating healthcare delivery systems in 40 distinct markets across 15 states. As of June 30, 2025, the Company had $13.64 billion in total assets, $14.73 billion in total liabilities, and $1.41 billion in total stockholders' deficit. * * * Egan-Jones Ratings Company on January 23, 2025, maintained its 'CCC+' foreign currency and local currency senior unsecured ratings on debt issued by Community Health Systems, Inc. COMTECH TELECOM: Delays Form 10-K Due to $2.5M Project Adjustment ----------------------------------------------------------------- Comtech Telecommunications Corp. filed a Notification of Late Filing on Form 12b-25 with the U.S. Securities and Exchange Commission, informing that during its post-closing reviews of its financial statements for the fiscal year ended July 31, 2025, the Company identified subsequent events that resulted in an adjustment required to the financial statements. Due to the evaluation needed for this adjustment, the Company is unable to file its Annual Report on Form 10-K for the period ended July 31, 2025 within the prescribed time period without unreasonable effort or expense. More specifically, in October 2025, the Company determined that its July 31, 2025 estimates of engineering activities, budgeted time and related costs to complete a development project that commenced in fiscal 2023 (in the Company's Satellite and Space Communications segment and with an international customer) required an increase, resulting in an expected cumulative reduction to net sales and gross profit of approximately $2.5 million. As the review of such revised engineering estimates is still in process, there can be no assurance that any such adjustment to the Company's financial statements will approximate this amount. The Company anticipates filing the Report within the time period provided by Rule 12b-25 promulgated under the Securities Exchange Act of 1934. About Comtech Telecommunications Corp. Headquartered in Chandler, Ariz., Comtech Telecommunications Corp. -- https://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. There are uncertainties that raise substantial doubt about the Company's ability to continue as a going concern. According to the Company, "Over the past three fiscal years, we incurred operating losses of $79,890,000, $14,660,000 and $33,752,000 in fiscal 2024, 2023 and 2022, respectively. More recently, we recognized an operating loss of $1,532,000 and $140,959,000 in the three and nine months ended April 30, 2025. In addition, over the past three fiscal years, net cash used in operating activities was $54,495,000 and $4,433,000 in fiscal 2024 and 2023, respectively, and net cash provided by operating activities was $1,997,000 in fiscal 2022. More recently, net cash used in operating activities was $19,739,000 in the nine months ended April 30, 2025. Our ability to meet future anticipated liquidity needs over the next year beyond the issuance date will largely depend on our ability to generate positive cash inflows from operations, maximize our borrowing capacity under our Credit Facility, as discussed further below, and/or secure other sources of outside capital. While we believe we will be able to generate sufficient positive cash inflows, maximize our borrowing capacity and secure outside capital, there can be no assurance our plans will be successfully implemented and, as such, we may be unable to continue as a going concern over the next 12 months beyond the issuance date." Comtech Telecommunications had $751,144,000 in total assets, $465,639,000 in total liabilities, and $115,433,000 in total stockholders' equity at April 30, 2025. COOPER-STANDARD: Narrows Net Loss to $7.62 Million in Fiscal Q3 --------------------------------------------------------------- Cooper-Standard Holdings Inc. filed with the U.S. Securities and Exchange Commission its Quarterly Report on Form 10-Q reporting a net loss of $7.62 million and $10.89 million for the three months ended September 30, 2025 and 2024, respectively. For the nine months ended September 30, 2025 and 2024, the Company reported a net loss of $7.49 million and $118.38 million, respectively. Gross profit for the three months ended September 30, 2025 and 2024, were $608.36 million and $685.35 million, respectively. For the nine months ended September 30, 2025 and 2024, the Company had gross profit of $2.07 billion. As of September 30, 2025, the Company had $1.86 billion in total assets, $1.97 billion in total liabilities, and $110.1 million in total deficit. "Our operating performance continues to be outstanding, delivering results for the first nine months of the year that exceeded our original plans," said Jeffrey Edwards, chairman and CEO, Cooper Standard. "We expect our execution will enable us to successfully navigate further temporary customer production disruptions in the fourth quarter and continue to drive higher margins and improved shareholder value going forward." A full-text copy of the Company's Form 10-Q is available at: https://tinyurl.com/2m9nmp8b About Cooper-Standard Cooper-Standard Holdings Inc. -- https://www.cooperstandard.com/ -- headquartered in Northville, Mich., with locations in 21 countries, is a global supplier of sealing and fluid handling systems and components. Utilizing the Company's materials science and manufacturing expertise, the Company creates innovative and sustainable engineered solutions for diverse transportation and industrial markets. As of March 31, 2025, Cooper-Standard Holdings had $1.8 billion in total assets, $1.9 billion in total liabilities, and total deficit of $122.3 million. * * * As reported by the Troubled Company Reporter on November 26, 2024, S&P Global Ratings revised its outlook on U.S.-based Cooper-Standard Holdings Inc. to positive from negative and affirmed its 'CCC+' Company credit rating. At the same time, S&P affirmed its 'CCC+' issue-level on the senior secured first-lien notes due in 2027; the recovery ratings are unchanged at '4' (30%-50%; rounded estimate: 45%). S&P affirmed its 'CCC-' issue-level rating on the senior secured third-lien notes due in 2027; the recovery ratings are unchanged at '6' (0%-10%; rounded estimate: 0%). S&P also affirmed its 'CCC-' issue-level rating on the company's senior unsecured notes; the recovery ratings are unchanged at '6' (0%-10%; rounded estimate: 0%). S&P said, "The positive outlook reflects the potential that we could raise our ratings within the next 12 months if we anticipate the company to further improve its earnings and free cash flow generation events we expect capex to increase in the longer term." CORVIAS CAMPUS: Court OKs Deal to Modify Cash Collateral Order -------------------------------------------------------------- The U.S. Bankruptcy Court for the District of Delaware approved a stipulation modifying its previous order that granted Corvias Campus Living – USG, LLC final approval to use cash collateral. The final order entered on July 29 set milestones the Debtor must meet for holders of the 5.30% senior secured notes due 2050 to continue authorizing cash collateral use. Following the mediation in August and resulting agreement on certain restructuring transactions, the Debtor, the noteholders and other parties executed a stipulation modifying the milestones in the July 29 final order as follows: (1) On or before October 8, the Debtor must have filed a Chapter 11 plan (consistent with, and in order to implement the proposed transactions in the term sheet) and a disclosure statement related thereto in form and substance reasonably acceptable to The Board of Regents of the University System of Georgia, Corvias Group LLC, Corvias Corporate Services LLC, Corvias LLC and the noteholders. (2) On or before November 20, counsel to the BOR must have delivered an email to counsel to the noteholders, the Debtor, and the Corvias entities confirming that the BOR is on track to meet its obligations with respect to obtaining the necessary funding and close any transaction on or before January 2, 2026. (3) On or before December 15, the court must have entered an order, in form and substance reasonably acceptable to the parties, confirming the plan. (4) On or before January 2, 2026, the plan must become effective. The stipulation is available at X from PacerMonitor.com. About Corvias Campus Living-USG Corvias Campus Living-USG, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 25-11214 on June 25, 2025, listing between $10 million and $50 million in assets and between $500 million and $1 billion in liabilities. Thelma Edgell, president of Corvias, signed the petition. Judge Laurie Selber Silverstein oversees the case. Derek C. Abbott, Esq., at Morris Nichols Arsht & Tunnell, LLP represents the Debtor as legal counsel. CORVIAS CAMPUS: Unsecureds Will Get 33.3% in Liquidating Plan ------------------------------------------------------------- Corvias Campus Living - USG, LLC filed with the U.S. Bankruptcy Court for the District of Delaware a Combined Disclosure Statement and Plan of Liquidation dated October 28, 2025. The Debtor is a member-managed, single purpose entity that was formed in Delaware. CCL - USG's sole member is Corvias, LLC. The sole member of Corvias, LLC is Corvias Group, LLC. CCL – USG, under the Project Lease Documents, leases and manages approximately 10,000 student beds totaling over 3 million square feet of living space on the USG Campuses as a public-private partnership (the "P3") with the The Board of Regents for the University System of Georgia (the "BOR"), involving the lease, design, construction, management, operation, maintenance, repair and replacement of certain student housing resources on the USG Campuses. Following the successful outcome of the mediation and the execution of the Term Sheet, the Debtor continued to focus on operating the USG Student Housing Program in the ordinary course and maintaining relationships with trade creditors. Simultaneously, the Debtor began working hand in hand with the BOR on implementing the transactions contemplated by the Term Sheet, including drafting the Asset Purchase Agreement, Transition Services Agreement, and the Combined Disclosure Statement and Plan. Further, the Debtor worked closely with the Noteholder Group and other key stakeholders to negotiate the Effective Date Budget to fund the chapter 11 case through the Effective Date, consistent with the Term Sheet. After several weeks of negotiations, the Debtor, the BOR, the Consenting Noteholders and the Corvias Parties reached agreement on the material terms of this Plan, which include the Sale to the BOR of the Projects and related assets free and clear of liens, claims, encumbrances and other interests in January 2026, following completion of the Fall 2025 semester, with (i) the Sale Proceeds, less $3,000,000 for the Debtor's Estate, (ii) additional Available Cash on Hand being distributed to the Noteholders and (iii) mutual releases. Over the coming months, the Debtor, the BOR and campus representatives will work to ensure that operations remain unchanged through year-end, followed by a seamless management transition back to the BOR. In addition, the Combined Disclosure Statement and Plan provides for the treatment of Claims and Interests of the Debtor's creditors and stakeholders. The Debtor believes the Plan represents the best outcome for all creditors and parties in interest. Class 4 consists of General Unsecured Claims. Except to the extent that the Holder of an Allowed Claim in Class 4 agrees to less favorable treatment (or such other treatment which the Debtor or the Post Effective Date Debtor, as applicable, and the Holder of such Allowed Class 4 Claim have agreed upon in writing), each Holder of an Allowed Claim in Class 4 shall receive in full and final satisfaction, settlement, and release of and in exchange for its Allowed Class 4 Claim, its Pro Rata share of the GUC Recovery. For the avoidance of doubt, the Collateral Agent and Noteholders shall not receive any portion of the GUC Recovery. The allowed unsecured claims total $1,700,000. Class 4 will receive a distribution of 33.3% of their allowed claims. As permitted by sections 1123(a)(5), 1123(b), and 1141(c) of the Bankruptcy Code, and pursuant to sections 363 and 365 of the Bankruptcy Code, the Debtor is seeking approval of the sale of the Transferred Assets to the BOR free and clear of all claims, encumbrances and other interests pursuant to and in accordance with the terms of this Plan and the Asset Purchase Agreement. Due to the structure of the Project Lease Documents, the BOR represents the only market participant for a potential sale of the Debtor's assets. Therefore, the Debtor did not retain an investment banker and did not undertake a traditional marketing process of the Transferred Assets. The Debtor's entry into the Asset Purchase Agreement and consummation of the Sale represents a sound exercise of the Debtor's business judgment. The proposed Sale of the Transferred Assets to the BOR represents the highest or otherwise best offer for the Transferred Assets under the circumstances and will provide a greater recovery for the estate than any known or achievable alternative. On the Effective Date, the Debtor shall consummate the sale and transfer of the Transferred Assets to the BOR, and, in exchange the BOR shall remit payment of the Sale Proceeds in accordance with the terms of the Asset Purchase Agreement and this Plan. To effectuate the transfer to the BOR of ownership and control of the Projects pursuant to this Plan the Project Lease Documents will be rejected and terminated as of the Effective Date. In addition, the BOR shall retain and be paid its BOR Administrative Claim and BOR Utility Payment, and waive and release all other claims, including default interest, late fees, attorneys' fees, rejection damages claims, and claims pursuant to 503(b)(3)(D) against the Debtor and its Estate. On the Effective Date, the BOR shall pay the Sale Proceeds as follows (1) $205,000,000 on behalf of the Debtor directly to the Collateral Agent, for itself and for the benefit of the Noteholders and (2) $3,500,000 to the Debtor as Additional Effective Date Cash less the BOR Utility Payment. On the Effective Date, $3,000,000 of the Additional Effective Date Cash, less the BOR Utility Payment, will be deposited into an unencumbered account to be held as Estate Funds and will be available to pay (a) Holders of Allowed Claims (not including the Noteholders, Collateral Agent, or Noteholder Claims) and (b) Post-Effective Date Debtor Expenses. A full-text copy of the Combined Disclosure Statement and Plan dated October 28, 2025 is available at https://urlcurt.com/u?l=vR7AAs from PacerMonitor.com at no charge. The Debtor's Counsel: Derek C. Abbott, Esq. Matthew O. Talmo, Esq. Tamara K. Mann, Esq. Brenna A. Dolphin, Esq. Brianna N.V. Turner, Esq. MORRIS NICHOLS ARSHT & TUNNELL, LLP 1201 North Market Street #1600 Wilmington DE 19081 Tel: (302) 658-9200 Fax: (302) 658-3989 Email: dabbott@morrisnichols.com mtalmo@morrisnichols.com tmann@morrisnichols.com bdolphin@morrisnichols.com bturner@morrisnichols.com About Corvias Campus Living-USG Corvias Campus Living-USG, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 25-11214 on June 25, 2025, listing between $10 million and $50 million in assets and between $500 million and $1 billion in liabilities. Thelma Edgell, president, signed the petition. Judge Laurie Selber Silverstein oversees the case. The Debtor tapped Derek C. Abbott, Esq., at Morris Nichols Arsht & Tunnell, LLP as counsel; CohnReznick LLP as financial advisor; and Donlin, Recano & Company LLC as administrative advisor. CREATIVE REALITIES: Laurence W. Lytton Holds 5.1% Stake ------------------------------------------------------- Laurence W. Lytton, disclosed in a Schedule 13G filed with the U.S. Securities and Exchange Commission that as of October 28, 2025, he beneficially owns 534,436 shares of common stock, consisting entirely of shares over which he has sole voting and dispositive power, of Creative Realities, Inc.'s common stock, representing approximately 5.1% of the class based on 10,518,932 shares outstanding as of August 12, 2025. Laurence W. Lytton may be reached at: Laurence W. Lytton 467 Central Park West New York, NY 10025 A full-text copy of Laurence W. Lytton's SEC report is available at https://tinyurl.com/4s8hxbzf About Creative Realities Headquartered in Louisville, Ky., Creative Realities -- https://cri.com/ -- designs, develops and deploys digital signage-based experiences for enterprise-level networks utilizing its Clarity, ReflectView, and iShowroom Content Management System (CMS) platforms. The Company is actively providing recurring SaaS and support services across diverse vertical markets, including but not limited to retail, automotive, digital-out-of-home (DOOH) advertising networks, convenience stores, foodservice/QSR, gaming, theater, and stadium venues. In addition, the Company assists clients in utilizing place-based digital media to achieve business objectives such as increased revenue, enhanced customer experiences, and improved productivity. This includes the design, deployment, and day to day management of Retail Media Networks to monetize on-premise foot traffic utilizing its AdLogic and AdLogic CPM+ programmatic advertising platforms. The independent registered public accounting firm's report on the Company's Consolidated Financial Statements for the fiscal year ended Dec. 31, 2024, included a note stating that there is significant uncertainty regarding the Company's ability to continue as a going concern within one year from the date the Consolidated Financial Statements are issued. Grant Thornton LLP, the Company's auditor since 2014 and based in Cincinnati, Ohio, emphasized that the Company is facing challenges in generating adequate cash flow to meet its contingent consideration obligations, which raises considerable doubt about its ability to remain a going concern. Creative Realities incurred a net loss of $3.51 million for the year ending Dec. 31, 2024, compared to a net loss of $2.94 million for the year ending Dec. 31, 2023. As of Dec. 31, 2024, the Company held total assets of $65.21 million, total liabilities of $39.75 million and total shareholders' equity of $25.46 million. CRED INC: Trust Set to Distribute $76MM in Crypto Payouts --------------------------------------------------------- Vince Sullivan of Law360 Bankruptcy Authority reports that a Delaware bankruptcy court was told Monday, November 3, 2025, that the Cred Inc. liquidation trust is prepared to distribute $76 million to unsecured creditors under the confirmed Chapter 11 plan, more than four years after the plan went into effect. The distribution signals significant progress toward finalizing the case. The trust plans to pay creditors in a mix of cash and cryptocurrency, drawing from recovered funds and assets liquidated over the past several years. According to court filings, nearly all disputes involving remaining assets and claims have been resolved, the report states. Cred, once a high-profile crypto lending platform, filed for Chapter 11 in 2020 after financial mismanagement left thousands of customers facing losses. The upcoming payout is a key step in closing out the bankruptcy and fulfilling obligations to unsecured creditors, according to report. About Cred Inc. Cred Inc. is a cryptocurrency platform that accepts loans of cryptocurrency from non-U.S. persons and pays interest on those loans. Cred -- https://mycred.io/ -- is a global financial services platform serving customers in over 100 countries. Cred is a licensed lender and allows some borrowers to earn a yield on cryptocurrency pledged as collateral. Cred Inc. and its affiliates sought Chapter 11 protection (Bankr. D. Del. Lead Case No. 20-12836) on Nov. 7, 2020. Cred was estimated to have assets of $50 million to $100 million and liabilities of $100 million to $500 million as of the bankruptcy filing. Judge John T. Dorsey oversees the cases. The Debtors tapped Paul Hastings LLP as their bankruptcy counsel, Cousins Law LLC as local counsel, and MACCO Restructuring Group, LLC as financial advisor. Donlin, Recano & Company, Inc., is the claims agent. The official committee of unsecured creditors in the Debtors' Chapter 11 cases tapped McDermott Will & Emery LLLP as counsel, and Dundon Advisers LLC as financial advisor. Robert Stark is the examiner appointed in the Debtors' cases. Ashby & Geddes, P.A., and Ankura Consulting Group, LLC, serve as the examiner's legal counsel and financial advisor, respectively. CYTTA CORP: Reports $2.1 Million Net Loss in Fiscal Q3 ------------------------------------------------------ Cytta Corp. filed with the U.S. Securities and Exchange Commission its Quarterly Report on Form 10-Q reporting a net loss of $2.13 million and $1.45 million for the three months ended June 30, 2025 and 2024, respectively. For the nine months ended June 30, 2025 and 2024, the Company reported a net income of $3.37 million and a net loss of $3.5 million, respectively. As of June 30, 2025, the Company had an accumulated deficit of $33.49 million and limited revenues. Revenues for the three months ended June 30, 2025 and 2024, were $416 and $832, respectively. For the nine months ended June 30, 2025 and 2024, the Company had revenues of $2,914 and $3,243, respectively. These factors, among others, raise substantial doubt about the ability of the Company to continue as a going concern. The Company intends to fund operations through equity and/or debt financing arrangements, which may not be sufficient to fund its capital expenditures, working capital and other cash requirements for the foreseeable future. As of June 30, 2025, the Company had $5.85 million in total assets, $1.41 million in total liabilities, and $4.04 million in total stockholders' equity. A full-text copy of the Company's Form 10-Q is available at: https://tinyurl.com/4fkkzaj4 About Cytta Corp Cytta Corp., headquartered in Las Vegas, Nevada, is focused on developing and marketing advanced streaming and integrated communication products, using technology based upon the SUPR (Superior Utilization of Processing Resources) video compression codec/algorithm and its IGAN (Incident Global Area Network) incident command proprietary software solutions. Cytta currently develops, markets, and distributes proprietary video streaming products and services that improve how video is streamed, consumed, transferred, and stored in enterprise environments. Hackensack, New Jersey-based Prager Metis CPAs, LLC, the Company's former auditor, issued a "going concern" qualification in its report dated Jan. 14, 2025. The report cited that, as of Sept. 30, 2024, the Company had an accumulated deficit of $36,867,892 and has generated losses since inception. These factors, among others, raise substantial doubt about the Company's ability to continue as a going concern. DIAMONDHEAD CASINO: Trustee Wins OK for January Real Estate Sale ---------------------------------------------------------------- Rick Archer of Law360 Bankruptcy Authority reports that a Delaware bankruptcy court on Monday, November 3, 2025, gave the Chapter 7 trustee for Diamondhead Casino Corp. permission to auction off the company's unused Mississippi casino site in January 2026. The decision allows the trustee to begin marketing efforts for the long-vacant property and move closer to winding down the estate. According to the trustee, proceeds from the sale will be used to repay creditors and conclude the bankruptcy. The Diamondhead site, originally planned as a Gulf Coast casino resort, has remained undeveloped for years following the company's collapse. A sale hearing will take place shortly after the auction concludes. About DiamondHead Casino Corp. Headquartered in Alexandria, Va., Diamondhead Casino Corporation owns, operates, and manages a casino resort. The Company constructs a casino resort and hotel and associated amenities. Diamondhead Casino serves customers in the United States. Marlton, N.J.-based Marcum LLP, the Company's auditor since 2004, issued a "going concern" qualification in its report dated March 31, 2025, attached to the Company's Annual Report on Form 10-K for the year ended Dec. 31, 2024, citing that the Company has a significant working capital deficiency, has incurred significant losses and needs to raise additional funds to meet its obligations and sustain its operations. As of Dec. 31, 2024, the Company had $5.6 million in total assets, $20.3 million in total liabilities, and a total stockholders' deficit of $14.7 million. DIOCESE OF ALEXANDRIA: Seeks Chapter 11 Reorganization ------------------------------------------------------ Melinda Martinez of Alexandria Town Talk reports that the Diocese of Alexandria announced on its website that it filed for Chapter 11 bankruptcy on Friday, October 31, 2025, to manage financial claims from survivors of sexual abuse by certain priests. The filing aims to address the financial obligations arising from these claims while allowing the diocese to continue its mission work. Bishop Robert W. Marshall, Jr., shared a letter and a video on social media explaining the filing. He described the abuse as "evil, sinful, and against everything the Church and the priesthood represent," and noted that the pending financial claims exceed the diocese’s available resources. According to Marshall, the Chapter 11 filing serves two purposes: to fairly compensate those harmed and to sustain the essential ministries of the diocese. As a mission diocese with limited resources, Alexandria can use the bankruptcy process to resolve claims equitably and maintain its focus on parishioners and its Gospel mission. About Diocese of Alexandria Diocese of Alexandria in Louisiana, established as the Diocese of Natchitoches on July 29, 1853, by Pope Pius IX and later relocated to Alexandria, serves as the ecclesiastical authority for the Catholic Church in north-central Louisiana. Headquartered at 4400 Coliseum Boulevard and led by Bishop Robert W. Marshall Jr., it encompasses 50 parishes and 21 mission churches across 13 civil parishes, with St. Francis Xavier Cathedral as its cathedral church. The Diocese operates as a Louisiana non-profit religious corporation and 501(c) (3) organization, providing spiritual, educational, and charitable services to roughly 36,228 Catholics across an 11,108-square-mile area. Diocese of Alexandria sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. La. Case No. 25-31257) on October 31, 2025. In its petition, the Debtor reports total assets of $16,667,411 and total liabilities of $9,467,288. Honorable Bankruptcy Judge John S. Hodge oversees the case. The Debtor is represented by Bradley L. Drell, Esq. of GOLD, WEEMS, BRUSER, SUES & RUNDELL. DIOCESE OF OAKLAND: Court Grants Motion to End Bankruptcy Case -------------------------------------------------------------- Jakob Rodgers of The Mercury News reports that Judge William J. Lafferty has granted the Diocese of Oakland's motion to dismiss its bankruptcy case, The Mercury News reported. The decision effectively ends the diocese's attempt to resolve hundreds of sexual abuse claims through Chapter 11 proceedings and allows those lawsuits to proceed in civil court. Roughly 350 survivors have filed lawsuits in recent years alleging decades of abuse by clergy across Alameda and Contra Costa counties. The diocese sought bankruptcy protection last 2024 to consolidate and manage the claims, arguing that litigation costs threatened its financial viability, the report states. The court's order will not take effect until November 12, 2025, giving both sides a narrow window to negotiate a potential global settlement before the dismissal becomes final, according to report. About Roman Catholic Bishop Of Oakland The Roman Catholic Bishop of Oakland, a tax-exempt religious organization, sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Cal. Case No. 23-40523) on May 8, 2023. In the petition signed by Bishop Michael Charles Barber, the Debtor disclosed $100 million to $500 million in both assets and liabilities. Judge William J. Lafferty oversees the case. The Debtor tapped Foley & Lardner LLP as legal counsel and Alvarez & Marsal North America, LLC as restructuring advisor. Kurtzman Carson Consultants LLC is the Debtors' claims and noticing agent and administrative advisor. The U.S. Trustee for Region 17 appointed an official committee to represent unsecured creditors in the Debtor's Chapter 11 case. The committee tapped Lowenstein Sandler, LLP as bankruptcy counsel; Burns Bair LLP as special insurance counsel; and Berkeley Research Group, LLC as financial advisor. DOOR COUNTY: Amends Unsecured Claims Pay Details ------------------------------------------------ Door County Environmental Energy LLC submitted a Fourth Amended Disclosure Statement for Fourth Amended Plan of Reorganization dated October 28, 2025. Nacelle has filed and is seeking your vote to accept or reject (or prefer) their alternative chapter 11 plan of reorganization. The Debtor believes that the Alternative Nacelle Plan is vastly inferior to the Debtor's Plan, including that it will pay creditors less money, and over a longer period of time (if at all), than Debtor's Plan. In addition, the Alternative Nacelle Plan is inferior to the Debtor's Plan because it contains and depends upon incurable legal defects or improbable assumptions that will prevent its approval and confirmation by the Bankruptcy Court, so that even if it were confirmed, it would not likely become effective because the conditions for its effectiveness could not be met. For every Class of Creditors and Equity Holders, the Debtor's Plan proposes higher (100% plus interest in most cases) distributions and better economic treatment than the Alternative Nacelle Plan. The principal defects in Nacelle's Plan are the following: * Inferior Treatment of GASB Claim. The Debtor proposes to pay GASB's Claim in full, with interest and attorneys' fees, over a five-year period. By contrast, under the Alternative Nacelle Plan, GASB may never be paid in full. The Alternative Nacelle Plan proposes to pay GASB only 50% of its Claim with interest and attorneys' fees on its Plan Effective Date, and the balance over an unlimited number of years from 25% of unspecified future cash flow, the payments of which will not even begin unless and until Nacelle’s affiliate AOH first obtains a $5,687,500 (175%) return on a putative investment in the Debtor of $3,250,000. * The Debtor proposes to reinstate US Venture's Claim and to assume its contracts without change. By contrast, the Alternative Nacelle Plan is dependent upon amendments to US Venture's contracts (without US Venture's consent, which is not legally permissible under the Bankruptcy Code), and would provide less favorable economics to US Venture. In addition, Nacelle states that it will reinstate US Venture's Claims as the Debtor proposes, but Nacelle's actual economic treatment of the US Venture Claim is inconsistent with any such reinstatement. * Inferior Treatment of Unsecured Claims of Nacelle and Foxland. The Debtor's Plan proposes to pay Nacelle's Claim and Foxland's Claim on the Effective Date at 100% plus interest at 7%. By contrast, Nacelle's Plan proposes that at its Plan Effective Date it will pay itself and Foxland 25% of the face amount of their Claims of approximately $1.7 million and $500,000 respectively, and then, if and only if its affiliate AOH realizes a $5,687,500 return on a putative investment of $3,250,000 during the five-year period following the Effective Date, Nacelle would pay itself another $313,650 (24.6%) of its remaining Claim, and would pay Foxland only $27,375 (7.3%) of Foxland's remaining Claim. * Inferior Treatment of General Unsecured Trade Debt. The Debtor's Plan proposes to pay general unsecured vendors on the Effective Date at 100% plus interest at 7%. By contrast, Nacelle's Plan proposes to pay such creditors 100% without interest. * Improper Private Sale of the Debtor. The Alternative Nacelle Plan depends upon the Court's unlikely approval of a private sale of the Debtor's business to its affiliate AOH for $3.25 million, a price that the Debtor believes to be below the fair market going concern value of its business. Nacelle proposes that this sale not be subject to any marketing or competitive bidding. That means that AOH would be gifted the equity value equivalent of much higher sale proceeds that the Debtor believes would be achieved in a true market sale, and which would otherwise be distributable to creditors and equity holders. Class 3 consists of the general unsecured claims of Nacelle in the amount of approximately $1.7 million, Foxland, in the amount of approximately $500,000, and trade debt of approximately $100,000 (or approximately $2.3 million in the aggregate, the final amounts to be agreed or otherwise determined by the Court). These Claims shall be paid a 100% dividend, on a pro rata basis, with a per annum interest rate of 7%, on the Effective Date. These Claims are unimpaired and pursuant to Section 1126(f) of the Bankruptcy Code are deemed to vote to accept the Plan. To effectuate the proposed Plan, DCEE shall continue its operations, effectuate approximately $3.1 million in sales of its CPFTC in January 2026, and utilize other income from its operations, and cash on hand on the Effective Date to make all Effective Date payments, and will continue thereafter to utilize profits, revenues, and income from its operations to fund the post-Effective Date obligations of its proposed Plan. A full-text copy of the Fourth Amended Disclosure Statement dated October 28, 2025 is available at https://urlcurt.com/u?l=Dvd7kz from PacerMonitor.com at no charge. Counsel to the Debtor: Claire Ann Richman, Esq. Michael P. Richman, Esq. Eliza M. Reyes, Esq. RICHMAN & RICHMAN LLC 122 W. Washington Avenue, Suite 850 Madison, WI 53703-2732 Tel: (608) 630-8990 Fax: (608) 630-8991 Email: MRichman@RandR.law CRichman@RandR.law EReyes@RandR.law About Door County Environmental Energy Door County Environmental Energy LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Wis. Case No. 24-26772) on Dec. 19, 2024. In the petition filed by Chris A. Lenzendorf, as authorized signatory of Door County Environmental Energy LLC, the Debtor estimated assets between $1 million and $10 million and estimated liabilities between $10 million and $50 million. Judge Beth E. Hanan oversees the case. The Debtor is represented by Claire Ann Richman, Esq. at RICHMAN & RICHMAN LLC. German American State Bank, as lender, is represented by: Sara C. McNamara, Esq. REINHART BOERNER VAN DEUREN S.C. 1000 North Water Street, Suite 1700 Milwaukee, WI 53202 Tel: (414) 298-1000 Email: smcnamara@reinhartlaw.com DORADO PUTT: Hires CPA Luis R. Carrasquillo as Financial Consultant ------------------------------------------------------------------- Dorado Putt PR, LLC seeks approval from the U.S. Bankruptcy Court for the District of Puerto Rico to hire CPA Luis R. Carrasquillo & Co., P.S.C. to serve as financial consultant in its Chapter 11 case. Carrasquillo will provide these services: (a) strategic counseling and advice; (b) pro forma modeling preparation; (c) financial and business assistance; (d) preparation of documentation as requested for and during Debtor's Chapter 11; and (e) recommendations and financial/business assessments regarding issues specifically related to the Debtor. The Debtor has retained Carrasquillo on the basis of a $25,000 retainer, against which Carrasquillo bills and will bill according to the hourly billing rates specified in the application, subject to the Court's approval. Carrasquillo and its members are "disinterested persons" as defined in Section 101(14) of the Bankruptcy Code. They are not creditors or insiders of the Debtor, have no material adverse interest, and have no connections with the Debtor, its creditors, or the U.S. Trustee that would affect their independence. The firm can be reached at: CPA Luis R. Carrasquillo & Co., P.S.C. 28th Street, TI–26 Turabo Gardens Caguas, PR 00725 Telephone: (787) 746-4555 (787) 746-4556 E-mail: luis@cpacarrasquillo.com About Dorado Putt PR, LLC Dorado Putt PR, LLC operates as an investment company engaged in financial and investment activities, based in San Juan, Puerto Rico, serving the local financial services industry. Dorado Putt PR, LLC sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. P.R. Case No. 25-04894) on October 28, 2025. At the time of the filing, Debtor had estimated assets of between $10,000,001 and $50 million and liabilities of between $10,000,001 and $50 million. Fuentes Law Offices, LLC serves as the Debtor's legal counsel. E&P ENTERPRISES: Seeks Chapter 7 Bankruptcy in Alabama ------------------------------------------------------ On October 21, 2025, E&P Enterprises LLC sought Chapter 7 protection in the Middle District of Alabama bankruptcy court, initiating a voluntary case. Its petition shows the company holds $1 million to $10 million in debts, and identifies between 50 and 99 creditors. About E&P Enterprises LLC E&P Enterprises LLC is a limited liability company. E&P Enterprises LLC sought relief under Chapter 7 of the U.S. Bankruptcy Code (Bankr. M.D. Ala. Case No. 25-32531) on October 21, 2025. In its petition, the Debtor reports estimated assets less than 100,000 and estimated liabilities between $1 million and $10 million. Honorable Bankruptcy Judge Bess M. Parrish Creswell handles the case. The Debtor is represented by J. Kaz Espy, Esq. of Espy, Metcalf & Espy, P.C. EAGLE THEATER OPERATING: Seeks to Extend Exclusivity to Nov. 14 --------------------------------------------------------------- Eagle Theater Operating LLC asked the U.S. Bankruptcy Court for the Southern District of Illinois to extend its exclusivity periods to file a plan of reorganization to November 14, 2025. The exclusive period of the Debtor for submission of a proposed Chapter 11 Plan pursuant to Section 1121(b) of the Bankruptcy Code will expire on October 31, 2025. Counsel for Operating has currently been involved in other matters which have required a substantial amount of time and attention. In addition, the Debtor's proposed plan is dependent on a third party investor. That investor requires additional time to confirm and document it proposal for infusion of cash in the Debtor, whether that infusion takes the form of an asset purchase or some other investment vehicle. Pursuant to Section 1121(d)(1) of the Bankruptcy Code, the Debtor reasonably requires and extension of its exclusive period for filing a proposed plan of reorganization through and including November 14, 2025. Eagle Theater Operating LLC is represented by: Steven M. Wallace, Esq. GOLDBERG HELLER & ANTOGNOLI, P.C. 2227 South State Route 157 Edwardsville, IL 62025 Tel: 618-656-5150 E-mail: Steven@ghalaw.com About Eagle Theater Operating LLC Eagle Theater Operating LLC operates a movie theater in Robinson, Illinois. The Company provides cinema services, including movie screenings and concessions. Eagle Theater Operating LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Ill. Case No. 25-60076) on May 11, 2025. In its petition, the Debtor reports estimated assets up to $50,000 and estimated liabilities between $1 million and $10 million. Honorable Bankruptcy Judge Mary E. Lopinot handles the case. The Debtors are represented by Steven M. Wallace, Esq. at GOLDENBERG HELLER & ANTOGNOLI, P.C. EAGLE THEATER: Seeks to Extend Plan Exclusivity to Nov. 14, 2025 ---------------------------------------------------------------- Eagle Theater Management, LLC asked the U.S. Bankruptcy Court for the Southern District of Illinois to extend its exclusivity period to file a plan of reorganization to November 14, 2025. The exclusive period of the Debtor for submission of a proposed Chapter 11 Plan pursuant to Section 1121(b) of the Bankruptcy Code will expire on October 31, 2025. Counsel for Management has currently been involved in other matters which have required a substantial amount of time and attention. In addition, the Debtor's proposed plan is dependent on a third party investor. That investor requires additional time to confirm and document it proposal for infusion of cash in the Debtor, whether that infusion takes the form of an asset purchase or some other investment vehicle. Pursuant to Section 1121(d)(1) of the Bankruptcy Code, Management reasonably requires and extension of its exclusive period for filing a proposed plan of reorganization through and including November 14, 2025. Eagle Theater Management, LLC is represented by: Steven M. Wallace, Esq. GOLDBERG HELLER & ANTOGNOLI, P.C. 2227 South State Route 157 Edwardsville, IL 62025 Tel: 618-656-5150 E-mail: Steven@ghalaw.com About Eagle Theater Management Eagle Theater Management, LLC, operates a movie theater in Robinson, Illinois, providing film screenings to local audiences. The Debtor sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Ill. Case No. 25-60077) on May 11, 2025, with $0 to $50,000 in assets and $1 million to $10 million in liabilities. Kurt Eric Gubelman, manager and member, signed the petition. Judge Mary E. Lopinot presides over the case. Steven M. Wallace, at GOLDBERG HELLER & ANTOGNOLI, P.C., is the Debtor's legal counsel. EASTGATE WHITEHOUSE: Court Oks NY Property Sale to Mazal Echad -------------------------------------------------------------- The U.S. Bankruptcy Court for the Southern District of New York has permitted Eastgate Whitehouse LLC to sell substantially all Assets, free and clear of liens, claims, interests, and encumbrances. The Debtor is the ground lessee of certain real property located at 939-943 First Avenue, a/k/a/ 344-350 East 52nd Street, New York, New York (Property), pursuant to that certain ground lease dated as of June 28, 1956 with 939 First Avenue, LLC. The Property is a 15 story mixed use building. Under the Ground Lease, the Debtor is responsible for paying monthly rent of $3,125.00 (a total of $37,500 annually) to the Ground Lessor. The term of the Ground Lease runs through June 30, 2055. The Debtor also owns certain personal property (Assets) located on or about the Property. The Court has authorized the Debtor to sell the Property to Mazal Echad LLC pursuant to the terms of the purchase and sale agreement, with the following modifications: (a) the Purchase Price a) of the PSA) is amended and increased to $13,500,000; (b) Exhibit D (https://urlcurt.com/u?l=U8Xurq) to the PSA is amended to include the security deposit of Support Parking LLC in the amount of $166,666.65, which security deposit shall be replenished by Mazal at the Closing along with all other unfunded security deposits consistent with the Confirmed Plan; (c) the Closing shall occur on or before December 1, 2025, and (d) the Stalking Horse will provide 939-943 First Avenue LLC with an indemnity, bond or similar security in an amount of $1,000,000 to indemnify the Ground Lessor from any future litigation by the tenants. Son Dinh Tran is designated the Back Up Bidder as provided in the Bid Procedures. The terms of the Back Up Bid are provided in that certain Agreement of Purchase and Sale between Eastgate Whitehouse LLC and Son Dinh Tran, dated as of October 24, 2025. The Back Up Bid is modified as follows: (a) the Purchase Price(as defined in Section 2(a) of the Back Up Bid) is amended and increased to $14,000,000; and (b) Exhibit D to the Back Up Bid is amended to include the security deposit of Support Parking LLC in the amount of $166,666.65, which security deposit shall be replenished by Back Up Bidder at the Closing along with all other unfunded security deposits consistent with the Confirmed Plan. To the extent there are any inconsistencies between the Back Up Bid and this Order, the Order shall govern. The Ground Lessor shall have 14 days from the date of entry of this Order to file notice of an objection to the Back Up Bid and/or Back Up Bidder and, if any such objection (i.e., anything other than an unqualified acceptance or consent) is filed, the Back Up Bidder shall (i) have the right to immediately withdraw the Back Up Bid and have their deposit returned or (ii) to remain as the Back Up Bid. If (i) the sale to the Successful Purchaser fails to close and (ii) the (a) Plan Administrator and (b) Back Up Bidder intend to proceed with a sale to the Back Up Bidder (with (i) Ground Lessor consent or (ii) without Ground Lessor consent, if Back Up Bidder chooses to proceed, the Plan Administrator shall provide notice of its intent to proceed with the Back Up Bid and will seek a hearing for approval of the sale to the Back Up Bidder on no less than five business days' notice. The PSA and any ancillary documentation in connection with the closing of the Sale of the Assets to Mazal may be modified, amended or supplemented in a writing signed by the parties thereto without further order of the Court; provided that such modification, amendment or supplement (i) does not have a material adverse effect on the Debtor’s estate or its creditors, and (ii) has been consented to in writing by Mazal and the Secured Lender. Upon the Closing Date of the Sale of the Assets, this Order shall: (i) be an absolute, outright and unconditional conveyance by the Debtor of all of its right, title and interest therein; (ii) be a legal, valid and effective transfer of the Assets; and (iii) vest in Mazal or its permitted assignee with good title to the Assets free and clear of all Interests, Liens, Claims and encumbrances. The Plan Administrator is authorized to take all actions necessary and appropriate to implement and effectuate the relief granted pursuant to this Order and to expend such sums of money and do other things as may be necessary and appropriate to comply with the requirements established by the Order. About Eastgate Whitehouse Rye, N.Y.-based Eastgate Whitehouse, LLC, owns an apartment building in Manhattan. Eastgate Whitehouse sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Case No. 22-22635) on Aug. 19, 2022. In the petition filed by its managing member, William W. Koeppel, the Debtor reported between $10 million and $50 million in both assets and liabilities. Judge Sean H. Lane oversees the case. The Debtor tapped Joel Shafferman, Esq., at Shafferman & Feldman, LLP as bankruptcy counsel; the Law Office of Christopher J. Alvarado, P.C., as special counsel; and Krell & Associates, CPA, PC, as accountant. ELASTIC NV: S&P Alters Outlook to Positive, Affirms 'BB' ICR ------------------------------------------------------------ S&P Global Ratings revised its outlook on search, observability, and security software solutions provider Elastic N.V. to positive from stable and affirmed all its ratings on the company, including the 'BB' issuer credit rating. The positive outlook reflects S&P's expectation that Elastic's leverage will continue to improve over the next 12 months through sales-led subscription growth and EBITDA margin expansion. S&P said, "We expect Elastic's leverage will approach our upside trigger by the end of fiscal year 2026 (ending April) as it continues to mature into its new operating model. Following Elastic's shift to a balanced growth strategy in 2023, both EBITDA and free operating cash flow (FOCF) have nearly doubled (though revenue growth has decelerated). As a result, leverage has fallen rapidly, and within the next six months we expect it will drop to about 2.0x from 2.3x by quarter ending July 30, 2026." On Oct. 9, 2025, Elastic raised its full-year 2026 revenue guidance due to improved demand visibility, further supporting the company's deleveraging trajectory. On a last 12 months (LTM) basis, Elastic reported revenue growth of 17%, EBITDA margins of 16%, and FOCF margins of about 19%, which S&P believes demonstrates its operational discipline, strong retention, and ability to self-fund growth. S&P said, "We expect Elastic will maintain a supportive financial policy despite introducing shareholder returns. In addition to raising its guidance and reaffirming its expectation of returning to a Rule of 40 (as measured by summing total revenue growth and adjusted FCF margin) company over the medium term, Elastic also announced its first-ever share repurchase program. The program authorizes $500 million of share repurchases with more than 50% of this amount anticipated to be deployed by year end fiscal 2026. Elastic further stated that going forward, it expects to deploy about 50% of free cash flow for share repurchases (unless better capital allocation opportunities, such as M&A, present themselves). "Despite this announcement, we believe Elastic has ample capacity to fund shareholder returns given its strong balance sheet and free cash flow dynamics. We further view its disciplined financial policy, evidenced by its consistent net-cash position, self-funding model, and track record of smaller, nonleveraging M&A transactions, as supportive of a potentially higher rating. "The positive outlook reflects our expectation that Elastic's leverage will continue to improve over the next 12 months through sales-led subscription growth and EBITDA margin expansion." S&P could revise its outlook to stable if Elastic sustains S&P Global Ratings-adjusted leverage above 2x. This could happen if: -- The company adopts a more aggressive financial policy that includes a pivot back to substantial organic growth investments, or significant debt-financed acquisitions and shareholder returns, resulting in higher leverage; or -- Topline growth weakened meaningfully due to muted consumption trends and delayed purchasing decisions from customers, leading to weaker profitability or more volatile cash flows. S&P could raise its rating if: -- S&P believes the company has strengthened its competitive position relative to its peers. This could occur if it sustains its above-average growth trajectory; or -- If the company is able to expand EBITDA margins, grow FOCF, and sustain S&P Global Ratings-adjusted leverage below 2.0x. ELETSON HOLDINGS: Seeks Sanctions Amid Affiliate Ownership Dispute ------------------------------------------------------------------ Rick Archer of Law360 Bankruptcy Authority reports that Eletson Holdings returned to bankruptcy court in New York on Monday seeking sanctions against a group of Cyprus corporations it says ignored an order tied to its Chapter 11 case. The oil and gas shipping company alleges the affiliates failed to comply with a directive to restore the prior board structure of one of its subsidiaries. According to court filings, the Cyprus entities made management changes that Eletson claims were both unauthorized and disruptive to its reorganization process. The company told the court that the continued defiance warrants sanctions to preserve the integrity of the Chapter 11 proceedings. The dispute reflects a deeper ownership conflict within Eletson's global operations, as competing factions vie for control of its assets. The bankruptcy judge has not yet ruled on the sanctions motion, the report states. About Eletson Holdings Eletson Holdings Inc. is a family-owned international shipping company, which touts itself as having a global presence with headquarters in Piraeus, Greece as well as offices in Stamford, Connecticut, and London. At one time, Eletson claimed to own and operate one of the world's largest fleets of medium and long-range product tankers and boasted a fleet consisting of 17 double hull tankers with a combined capacity of 1,366,497 dwt, 5 LPG/NH3 carriers with a combined capacity of 174,730 cbm and 9 LEG carriers with capacity of 108,000 cbm. Eletson Holdings, a Liberian company, is Eletson's ultimate parent company and is the direct parent and owner of 100% of the equity interests in the two other debtors, Eletson Finance (US) LLC, and Agathonissos Finance LLC. Eletson and its two affiliates were subject to involuntary Chapter 7 bankruptcy petitions (Bankr. S.D.N.Y. Case No. 23-10322) filed on March 7, 2023 by creditors Pach Shemen LLC, VR Global Partners,L.P. and Alpine Partners (BVI), L.P. The petitioning creditors are represented by Kyle J. Ortiz, Esq., at Togut, Segal & Segal, LLP. On Sept. 25, 2023, the Chapter 7 cases were converted to Chapter 11 cases. The Honorable John P. Mastando, III is the case judge. Lawyers at Reed Smith represent the Debtors as bankruptcy counsel. Riveron RTS served as the Debtors' Domestic Financial Advisor; Harold Furchtgott-Roth as Economic Expert; and Kurtzman Carson as Voting Agent. The U.S. Trustee for Region 2 appointed an official committee of unsecured creditors. The committee tapped Dechert, LLP as its legal counsel and FTI Consulting as the Committee's financial advisors. ENDRA LIFE: ATW Partners Holds 9.9% Equity Stake ------------------------------------------------ ATW Partners Opportunities Management, LLC, ATW Master Fund V LP, Kerry Propper, and Antonio Ruiz-Gimenez, disclosed in a Schedule 13G filed with the U.S. Securities and Exchange Commission that as of October 16, 2025, they beneficially own 116,024 shares of common stock, par value $0.0001 per share, of ENDRA Life Sciences Inc. representing approximately 9.9% of the 1,166,441 shares outstanding, as stated in the Company's PRE 14A filed on October 17, 2025. The common stock reported represents shares held directly by ATW Master Fund V LP. ATW Partners Opportunities Management, LLC serves as the investment manager to the fund, while Kerry Propper and Antonio Ruiz-Gimenez are control persons of the investment manager. Each reporting person may therefore be deemed to share voting and dispositive power with respect to the shares owned by the fund. The the fund also holds certain warrants and prefunded warrants, each subject to a 9.99% ownership blocker preventing exercise or conversion beyond that threshold. ATW Partners may be reached through: ATW Partners Opportunities Management, LLC Attn: Kerry Propper, Managing Member 1 Pennsylvania Plaza, Suite 4810 New York, N.Y. 10119 Tel: 646-975-5542 A full-text copy of the SEC report is available at https://tinyurl.com/t7t3pvrs About ENDRA Life Sciences Headquartered in Ann Arbor, Mich., ENDRA Life Sciences Inc. -- http://www.endrainc.com/-- is the pioneer of Thermo-Acoustic Enhanced UltraSound (TAEUS), a ground-breaking technology being developed to assess tissue fat content and monitor tissue ablation during minimally invasive procedures, at the point of patient care. TAEUS is focused on the measurement of fat in the liver as a means to assess and monitor steatotic liver disease and metabolic dysfunction-associated steatohepatitis, chronic liver conditions that affect over two billion people globally, and for which there are no practical diagnostic tools. The report of the Company's independent accounting firm, RBSM LLP contained a "going concern" qualification attached to the Company's Annual Report on Form 10-K for the year ended Dec. 31, 2024, citing that the Company has suffered recurring losses from operations, generated negative cash flows from operating activities, has an accumulated deficit, which raise substantial doubt about Company's ability to continue as a going concern. As of June 30, 2025, ENDRA Life Sciences had $2.81 million in total assets, $1.33 million in total liabilities, and $1.47 million in total stockholders' equity. ENDRA LIFE: Enters into $1.75M ATM Agreement with Lucid Capital --------------------------------------------------------------- ENDRA Life Sciences Inc. disclosed in a Form 8-K Report filed with the U.S. Securities and Exchange Commission that on October 29, 2025, the Company entered into an At-The-Market Issuance Sales Agreement with Lucid Capital Markets, LLC, as sales agent, pursuant to which the Company may offer and sell, from time to time through Lucid, shares of its common stock, par value $0.0001 per share, for aggregate gross proceeds of up to $1,750,000. The offer and sale of the Shares will be made pursuant to a shelf registration statement on Form S-3 (File No. 333-277058) and the related prospectus, as supplemented by a prospectus supplement dated October 29, 2025 and filed with the Securities and Exchange Commission on such date pursuant to Rule 424(b) under the Securities Act of 1933, as amended. Pursuant to the ATM Agreement, Lucid may sell the Shares in sales deemed to be "at-the-market" equity offerings as defined in Rule 415 promulgated under the Securities Act, including sales made directly on or through the Nasdaq Capital Market. The Company and Lucid may also agree for the Company to sell Shares to Lucid as principal in negotiated transactions, at a purchase price agreed upon by Lucid and the Company. The offer and sale of the Shares pursuant to the ATM Agreement will terminate upon the earlier of: (a) the issuance and sale of all of the Shares subject to the ATM Agreement, (b) the termination of the ATM Agreement by Lucid or the Company pursuant to the terms thereof, or (c) the three-year anniversary of the date of the ATM Agreement. The Company has no obligation to sell any of the Shares, and may at any time suspend offers under the Agreement or terminate the Agreement. The Company has agreed to pay Lucid a commission of up to 3.0% of the aggregate gross proceeds from any Shares sold by Lucid and to provide Lucid with customary indemnification and contribution rights, including for liabilities under the Securities Act. The Company also will reimburse Lucid for certain specified expenses in connection with entering into and maintaining the ATM Agreement. The ATM Agreement contains customary representations and warranties and conditions to the placements of the Shares pursuant thereto. Lucid Capital Markets, LLC may be reached through: John Lipman and John DeMarais Lucid Capital Markets, LLC 570 Lexington Avenue, 40th Floor New York, NY 10022 A copy of the ATM Agreement is available at https://tinyurl.com/35av8x47 A copy of the opinion of K&L Gates LLP relating to the legality of the issuance and sale of the Shares is available at https://tinyurl.com/bduj4yww About ENDRA Life Sciences Headquartered in Ann Arbor, Mich., ENDRA Life Sciences Inc. -- http://www.endrainc.com/-- is the pioneer of Thermo-Acoustic Enhanced UltraSound (TAEUS), a ground-breaking technology being developed to assess tissue fat content and monitor tissue ablation during minimally invasive procedures, at the point of patient care. TAEUS is focused on the measurement of fat in the liver as a means to assess and monitor steatotic liver disease and metabolic dysfunction-associated steatohepatitis, chronic liver conditions that affect over two billion people globally, and for which there are no practical diagnostic tools. The report of the Company's independent accounting firm, RBSM LLP contained a "going concern" qualification attached to the Company's Annual Report on Form 10-K for the year ended Dec. 31, 2024, citing that the Company has suffered recurring losses from operations, generated negative cash flows from operating activities, has an accumulated deficit, which raise substantial doubt about Company's ability to continue as a going concern. As of June 30, 2025, ENDRA Life Sciences had $2.81 million in total assets, $1.33 million in total liabilities, and $1.47 million in total stockholders' equity. ENDRA LIFE: John Carter Lipman Holds 9.99% Equity Stake ------------------------------------------------------- John Carter Lipman disclosed in a Schedule 13G filed with the U.S. Securities and Exchange Commission that as of October 23, 2025, he beneficially owns 115,477 shares of common stock, par value $0.0001, consisting of 76,104 shares purchased and 39,373 shares issuable upon exercise of purchase warrants subject to a 9.99% beneficial ownership blocker, of ENDRA Life Sciences Inc.'s common stock, representing approximately 9.99% of the class based on 1,166,441 shares outstanding as reported in the issuer's preliminary Proxy Statement filed on October 17, 2025. John Carter Lipman may be reached through: John Carter Lipman C/O Carter Securities LLC 767 Third Avenue 27th Floor New York, NY 10022 A full-text copy of John Carter Lipman's SEC report is available at https://tinyurl.com/4cvnkcdv About ENDRA Life Sciences Headquartered in Ann Arbor, MI, ENDRA Life Sciences Inc. -- http://www.endrainc.com/-- is the pioneer of Thermo-Acoustic Enhanced UltraSound (TAEUS), a ground-breaking technology being developed to assess tissue fat content and monitor tissue ablation during minimally invasive procedures, at the point of patient care. TAEUS is focused on the measurement of fat in the liver as a means to assess and monitor steatotic liver disease and metabolic dysfunction-associated steatohepatitis, chronic liver conditions that affect over two billion people globally, and for which there are no practical diagnostic tools. The report of the Company's independent accounting firm, RBSM LLP contained a "going concern" qualification attached to the Company's Annual Report on Form 10-K for the year ended Dec. 31, 2024, citing that the Company has suffered recurring losses from operations, generated negative cash flows from operating activities, has an accumulated deficit, which raise substantial doubt about Company's ability to continue as a going concern. As of June 30, 2025, ENDRA Life Sciences had $2.81 million in total assets, $1.33 million in total liabilities, and $1.47 million in total stockholders' equity. FCI SAND: Seeks to Extend Plan Exclusivity to Jan. 26, 2026 ----------------------------------------------------------- FCI Sand Operations, LLC and FCI South, LLC asked the U.S. Bankruptcy Court for the Northern District of Texas to extend their exclusivity periods to file a plan of reorganization and obtain acceptance thereof to January 26, 2026 and March 27, 2026, respectively. The Debtors explain that several factors warrant the requested extension of exclusivity for the following reasons: * The Bankruptcy Cases are complex chapter 11 cases pending on the Court's mega docket and involve enhanced complexity and difficulty; * The Debtors entered into and continue to engage in good faith, arm's length negotiations with creditors and stakeholders; * The Debtors have made positive progress towards reaching a confirmable plan of reorganization, including by entering into mediation with creditors and stakeholders; * The Debtors have demonstrated reasonable prospects for an effective reorganization by welcoming negotiations with creditors and stakeholders; * The Debtors are not seeking this extension to pressure creditors, but rather seek this extension to be able to propose and confirm a plan that will provide a larger dividend to creditors than liquidation; * The Debtors have recently retained a sale consultant and are in the process of retaining an investment banker, for the purpose of exploring a sale or obtaining exit and "take-out" refinancing, which developments may have a material impact on any type of plan that the Debtors may reasonably propose; and * No creditor or party-in-interest will be prejudiced by the requested extensions; on the contrary, all creditors and parties will be best served by not devoting their time and resources to a plan until sufficient time has passed and analysis undertaken to propose a meaningful, confirmable plan. Counsel to the Debtors: Davor Rukavina, Esq. J. Kyle Jaksa, Esq. Munsch Hardt Kopf & Harr, P.C. 1717 W. 6th St., Ste. 250 Austin, TX 78703 Tel: (214) 855-7500 Email: drukavina@munsch.com About FCI Sand Operations LLC FCI Sand Operations LLC is a sand mining and processing company based in Marble Falls, Texas. FCI Sand Operations LLC and FCI South, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Tex. Lead Case No. 25-80481) on July 30, 2025. In its petition, FCI Sand Operations reports estimated assets and liabilities between $100 million and $500 million each. Judge Michelle V. Larson oversees the case. The Debtors are represented by Davor Rukavina, Esq. at Munsch Hardt Kopf & Harr, P.C. FIRST BRANDS: Accuses Former CEO of Embezzling Millions ------------------------------------------------------- Emily Lever of Law360 Bankruptcy Authority reports that bankrupt auto-parts supplier First Brands has sued its founder and former CEO, accusing him of siphoning hundreds of millions -- possibly billions -- of dollars from the company, actions the company says contributed to its Chapter 11 filing. The suit alleges that the ex-CEO engaged in a pattern of misappropriation, including inflated invoices, double-pledged collateral, and transfers to entities he controlled. First Brands contends that the executive's conduct enriched him personally while leaving the company with minimal liquidity and mounting debt, harming creditors and complicating the restructuring process. The bankruptcy estate is seeking to recover misused funds and hold the former CEO accountable for what it describes as "brazen" financial misconduct, the report states. About First Brands Group, LLC Rochester Hills, Mich.-based First Brands Group, LLC is a global supplier of aftermarket automotive parts. On September 24, 2025, the Company's non-operational special purpose entities, Global Assets LLC, Global Lease Assets Holdings, LLC, Carnaby Capital Holdings, LLC, Broad Street Financial Holdings, LLC, Broad Street Financial, LLC, Carnaby Inventory II, LLC, Carnaby Inventory Holdings II, LLC, Carnaby Inventory III, LLC, Carnaby Inventory Holdings III, LLC, Patterson Inventory, LLC, Patterson Inventory Holdings, LLC, Starlight Inventory I, LLC and Starlight Inventory Holdings I, LLC each filed a voluntary petition for relief under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of Texas. Commencing on September 28, 2025, First Brands Group, LLC and 98 affiliated debtors each filed a voluntary petition for relief under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of Texas. In its petition, First Brands Group listed $1 billion to $10 billion in estimated assets and $10 billion to $50 billion in estimated liabilities. The cases are pending before the Hon. Christopher M. Lopez, and are jointly administered under Case No. 25-90399, and consolidated for procedural purposes only. The Debtors tapped Weil, Gotshal and Manges, LLP as legal counsel; Lazard Freres & Co. as investment banker; Alvarez & Marsal North America, LLC as financial advisor; and C Street Advisory Group as strategic communications advisor. Kroll Restructuring Administration, LLC is the Debtors' claims, noticing and solicitation agent. Gibson, Dunn & Crutcher, LLP and Evercore serve as the Ad Hoc Group of Lenders' legal counsel and investment banker, respectively. The U.S. Trustee for Region 7 appointed an official committee to represent unsecured creditors in the Debtors' Chapter 11 cases. FP HOUSTON: Case Summary & 20 Largest Unsecured Creditors --------------------------------------------------------- Debtor: FP Houston Apartments, LLC Forest Park Apartments 12635 Tidwell Rd Houston, TX 77044-2007 Business Description: FP Houston Apartments, LLC is a single-asset real estate company that owns Forest Park Apartments in Houston, Texas. Chapter 11 Petition Date: November 3, 2025 Court: United States Bankruptcy Court Southern District of Texas Case No.: 25-90606 Judge: Hon. Alfredo R Perez Debtor's Counsel: David Ritter, Esq. RITTER SPENCER PLLC 17950 Preston Rd #250 Dallas TX 75252-5793 Tel: (214) 295-5078 E-mail: dritter@ritterspencercheng.com Estimated Assets: $10 million to $50 million Estimated Liabilities: $10 million to $50 million The petition was signed by Dal Thandi as manager. A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/4FKKITY/FP_Houston_Apartments_LLC__txsbke-25-90606__0001.0.pdf?mcid=tGE4TAMA List of Debtor's 20 Largest Unsecured Creditors: Entity Nature of Claim Claim Amount 1. Three Amigos Texas, LLC $56,063 193 Grammar Rd Houston, TX 77047-6002 2. Sherbal, Dave $55,000 11975 Lake Trail Ln Parkland, FL 33076-2993 3. Conservice Untility $35,301 750 Gateway Dr. Logan, UT 84321 4. Sky Painting $19,743 PO Box 40655 Houston, TX 77240-0655 5. Impact Floors of Texas, LLC $16,314 PO Box 670658 Dallas, TX 75267-0658 6. HD Supply Facilities Maintenance $15,134 PO Box 509058 San Diego, CA 92150-9058 7. Asset Plus USA, LLC $12,150 945 Bunker Hill Rd Houston, TX 77024-1358 8. MAC Mechanical Plumbing, LLC $12,111 PO Box 40367 Houston, TX 77240-0367 9. EDT Construction, LLC $12,015 PO Box 2391 Alief, TX 77411-2391 10. Redi Carpet, Inc. $10,459 PO Box 941442 Dallas, TX 75397-0001 11. Chadwell Supply, Inc. $10,311 PO Box 105172 Atlanta, GA 30348-5172 12. Ameristar Screen and Glass $9,861 PO Box 29309 Dallas, TX 75229-0309 13. A.M.C. Carpet & Services $7,788 1501 S Loop 288 Ste 104 Denton, TX 76205-4708 14. Union Plumbing, Inc. $7,575 12110 Dover St. Houston, TX 77031-2824 15. Rent Group, Inc. $7,349 PO Box 740925 Atlanta, GA 30374-0925 16. Summit Fire & Security, LLC $7,114 PO Box 855227 Minneapolis, MN 55485-5227 17. 1 Tom Plumber $7,038 4418 FM 1518 78154 18. MultiPro Property Solutions, LLC $6,075 PO Box 850001 Orlando, FL 32885-0001 19. Premier Contracting Services, LLC $5,976 PO Box 298 Missouri City, TX 77459 20. Texas Crime, LLC $5,699 601 Austin St. Richmond, TX 77469-4301 FTX TRADING: Trust Moves to Recover $650K Donated to Charity ------------------------------------------------------------ Katryna Perera of Law360 Bankruptcy Authority reports that the FTX Recovery Trust has asked a Delaware bankruptcy court to reject an attempt by an FTX angel investor to block the trust from reclaiming a $650,000 charitable donation. The trust argued that the investor's related sanctions motion is a tactical maneuver designed to impede its recovery efforts. Court filings state that the investor made the donation before FTX's collapse, but the trust claims it has the legal right to claw back the funds to benefit creditors. According to the trust, the sanctions motion is intended to intimidate and slow the trust’s pursuit of claims related to the donation. This case is part of the broader litigation stemming from FTX's 2022 bankruptcy. The trust is actively seeking to recover hundreds of millions in assets to compensate defrauded customers and other creditors, and the court has yet to issue a ruling on either the clawback claim or the sanctions motion, according to report. About FTX Trading Ltd. FTX is the world's second-largest cryptocurrency firm. FTX is a cryptocurrency exchange built by traders, for traders. FTX offers innovative products including industry-first derivatives, options, volatility products and leveraged tokens. Then CEO and co-founder Sam Bankman-Fried said Nov. 10, 2022, that FTX paused customer withdrawals after it was hit with roughly $5 billion worth of withdrawal requests. Faced with liquidity issues, FTX on Nov. 9 struck a deal to sell itself to its giant rival Binance, but Binance walked away from the deal amid reports on FTX regarding mishandled customer funds and alleged US agency investigations. At 4:30 a.m. on Nov. 11, Bankman-Fried ultimately agreed to step aside, and restructuring vet John J. Ray III was quickly named new CEO. FTX Trading Ltd (d/b/a FTX.com), West Realm Shires Services Inc. (d/b/a FTX US), Alameda Research Ltd. and certain affiliated companies then commenced Chapter 11 proceedings (Bankr. D. Del. Lead Case No. 22-11068) on an emergency basis on Nov. 11, 2022. Additional entities sought Chapter 11 protection on Nov. 14, 2022. FTX Trading and its affiliates each listed $10 billion to $50 million in assets and liabilities, making FTX the biggest bankruptcy filer in the US this year. According to Reuters, SBF shared a document with investors on Nov. 10 showing FTX had $13.86 billion in liabilities and $14.6 billion in assets. However, only $900 million of those assets were liquid, leading to the cash crunch that ended with the company filing for bankruptcy. The Hon. John T. Dorsey is the case judge. The Debtors tapped Sullivan & Cromwell, LLP as bankruptcy counsel; Landis Rath & Cobb, LLP as local counsel; and Alvarez & Marsal North America, LLC as financial advisor. Kroll is the claims agent, maintaining the page https://cases.ra.kroll.com/FTX/Home-Index The official committee of unsecured creditors tapped Paul Hastings as bankruptcy counsel; Young Conaway Stargatt & Taylor, LLP as Delaware and conflicts counsel; FTI Consulting, Inc. as financial advisor; and Jefferies, LLC as investment banker. Montgomery McCracken Walker & Rhoads LLP, led by partners Gregory T. Donilon, Edward L. Schnitzer, and David M. Banker, is representing Sam Bankman-Fried in the Chapter 11 cases. White collar crime specialist Mark S. Cohen has reportedly been hired to represent SBF in litigation. Lawyers at Paul Weiss previously represented SBF but later renounced representing the entrepreneur due to a conflict of interest. GEC TRANSPORT: Seeks to Hire Tran Singh as Legal Counsel -------------------------------------------------------- GEC Transport Solutions LLC seeks approval from the U.S. Bankruptcy Court for the Southern District of Texas to hire Tran Singh LLP to serve as legal counsel in its Chapter 11 case. Tran Singh LLP will provide these services: (a) analyze the Debtor's financial situation and render advice and assistance; (b) advise the Debtor with respect to its rights, duties, and powers as a debtor in this case; (c) represent the Debtor at all hearings and other proceedings; (d) prepare and file petitions, schedules of assets and liabilities, statements of affairs, answers, motions, and other legal papers necessary to further the Debtor's interests; (e) represent the Debtor at the meeting of creditors and other proceedings as required during the bankruptcy; (f) represent the Debtor in all proceedings before the Court and other judicial or administrative bodies where its rights may be affected; (g) prepare and file a Disclosure Statement and Chapter 11 Plan of Reorganization; (h) assist the Debtor in analyzing creditor claims and negotiating with such creditors; and (i) assist the Debtor in any matters relating to or arising out of the Chapter 11 case. Attorneys Susan Tran Adams and Brendon Singh will bill at $550 per hour, and Mayur Patel at $425 per hour. Legal assistants will bill at $95 per hour. The firm received a $37,000 pre-petition retainer, of which $12,484.12 was applied toward pre-petition fees and expenses, leaving a balance of $24,515.88. Tran Singh LLP is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code, according to court filings. The firm can be reached at: Susan Tran Adams, Esq. Brendon Singh, Esq. TRAN SINGH LLP 2502 La Branch Street Houston, TX 77004 Telephone: (832) 975-7300 Facsimile: (832) 975-7301 E-mail: stran@ts-llp.com About GEC Transport Solutions LLC GEC Transport Solutions LLC is a limited liability company. GEC Transport Solutions LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 25-70297) on October 6, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $0 million each. Honorable Bankruptcy Judge Eduardo V. Rodriguez handles the case. The Debtor is represented by Susan Tran Adams, Esq. of TRAN SINGH, LLP. GOLDEN RULE: S&P Affirms 'BB+' Education Revenue Bonds Ratings -------------------------------------------------------------- S&P Global Ratings revised the outlook to negative from stable and affirmed its 'BB+' underlying rating on the Danbury Higher Education Authority, Texas' series 2015, 2017, and 2022 education revenue bonds issued for Golden Rule Schools Inc. (GRS), as well as the long-term rating on the series 2015B and 2019A education revenue bonds. S&P said, "The outlook revision reflects our opinion of the school's materially weakening financial operations based on the fiscal 2024 audit and the fiscal 2025 budget, which is primarily driven by the decline in enrollment and in the resulting breach of the covenant requiring 1.1x debt service. Although the school budgets for significant improvement in operating results for fiscal 2026, fall 2025 enrollment is slightly below the previous year's figures, which could pressure operations again in fiscal 2026, in our view. "We analyzed environmental, social, and governance factors and consider them neutral in our credit rating analysis. "The negative outlook reflects our view that there is at least a one-in-three chance that we could lower the rating within the one-year outlook time frame if the school posts another deficit in fiscal 2026, such that lease-adjusted MADS coverage remains below 1x, or if unrestricted reserves were to decline materially from the fiscal 2024 level. "We could lower the rating if GRS fails to stabilize enrollment, if it fails to improve its operations and lease-adjusted MADS coverage to comply with debt covenants, or liquidity were to decline to levels that are inconsistent with the current rating. "We could revise the outlook to stable if the school stabilizes enrollment, returns to generating stable-to-positive operating results, and complies with debt covenants, and if the management team remains stable." GOLDEN TEMPLE: Unsecured Creditors to be Paid in Full in Plan ------------------------------------------------------------- Golden Temple Investment LLC filed with the U.S. Bankruptcy Court for the Eastern District of Wisconsin a Subchapter V Plan dated October 27, 2025. GTI was established in 2021 as a Wisconsin Limited Liability Company, and conduct business in Greenville and Milwaukee, Wisconsin as property owner of gas stations with quick food service. The gas station in Milwaukee, Wisconsin includes a car wash (not operating) and Subway (not operating) ("Milwaukee Property"). The Milwaukee Property is currently not operating. Debtor is in the process of leasing the gas station at the Milwaukee Property for operation to an entity owned by an insider, the spouse of the Owner. The Debtor's assets consist of two pieces of real estate, the Greenville Property and the Milwaukee Property, each providing the ability to have tenants for a gas station and quick food service, and collection of past due rents from the Greenville Property. Through this Plan, Debtor proposes to liquidate the Greenville Property, collect the past due rents, and continue operating the Milwaukee Property. Upon sale of the Greenville property, and collection of the rents, Debtor will be able to greatly reduce its debt to only one remaining secured creditor and provide capital improvement funds to better reorganize the Milwaukee Property. Debtor proposes to devote its projected disposable income from the Milwaukee Property for the next 3 years to payment of the remaining allowed claim(s) not paid from Greenville Property closing proceeds. Debtor anticipates that such distributions will result in payment of 100% of the allowed claims. Class 5 consists of the Allowed Unsecured Claim AKD Petroleum, LLC (Milwaukee Property). Class 5 consists of the Allowed Unsecured Claim of AKD Petroleum, LLC, which consists of amounts owed in excess of the amount secured by the Mortgage limited to $1,264,000 and paid as an Allowed Secured Claim in Class 1, in an amount to be determined. Class 5 shall be paid in full in the amount of approximately $200,000, plus applicable rate of interest at 3.95% from Petition Date, upon the sale of the Greenville Property. This Class is unimpaired. Class 6 consists of a tenant security deposit of $10,000, which will remain as a contingent liability of Debtor subject to the legal rights of tenant. To effectuate the Plan, Debtor shall continue its operations at the Greenville Property until sale and continue operation of the Milwaukee Property. Debtor will utilize income from its operation of the Greenville Property and Milwaukee Property and proceeds from the sale of the Greenville Property to fund the proposed Plan distributions to those Classes and to pay allowed administrative expenses. A full-text copy of the Subchapter V Plan dated October 27, 2025 is available at https://urlcurt.com/u?l=qG4TGR from PacerMonitor.com at no charge. Counsel to the Debtor: Claire Ann Richman, Esq. Michael P. Richman, Esq. Richman & Richman LLC 122 W. Washington Ave., Suite 850 Madison, WI 53703 Telephone: (608) 889-2322 About Golden Temple Investment Golden Temple Investment LLC sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Wis. Case No. 25-23716) on June 2, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. Honorable Bankruptcy Judge Rachel M. Blise handles the case. The Debtors are represented by Claire Ann Richman, Esq. at RICHMAN & RICHMAN LLC. GRMG REAL: To Sell Lake Ridge Interest to JBY LLC for $720K ----------------------------------------------------------- GRMG Real Estate LLP and its affiliate DMB-GRMG Medical Building Investment LLC seeks permission from the U.S. Bankruptcy Court for the Northern District of Iowa to sell Interest in certain Real Property, free and clear of liens, claims, interests, and encumbrances. The Debtors request entry of an order, approving the transfer and sale of all of GRMG RE's interest in the real estate commonly known as 3405 Lake Ridge and legally described as Lot 1 of Cedar Lake Plaza in the City of Dubuque, Iowa. The transfer of GRMG RE’s interest in the Lake Ridge Property to JBY LLC on the terms set forth in the Agreement represents a win-win-win solution for the Debtors, their creditors and their equity interest holders. GRMG RE's predecessor in interest purchased the Lake Ridge Property in 2010 from C & S Realty LLC for approximately $850,000.00, in order to expand its real property portfolio. The Lake Ridge Property was designed to serve as a dermatology clinic for GRMG RE's primary tenant, Dubuque Internal Medicine d/b/a Grand River Medical Group P.C (GRMG). GRMG used the Lake Ridge Property as a dermatology clinic for several years until spring 2025. However, as set forth further in the First Day Declaration, GRMG sold its assets and operations to Iowa Physicians Clinic Medical Foundation d/b/a UnityPoint Clinic (UPH) and JWDR Dialysis, PLLC. In discussions with UPH and JWDR, both parties indicated that they would only lease real property for real estate that was being used in GRMG's active operations. Moreover, UPH indicated that it would not lease real property from the Debtors if the physicians practicing out of any parcel of real property did not accept employment offers with UPH as part of the transactions. The two dermatology physicians that were practicing at the Lake Ridge Property in the spring of 2025 both declined to accept employment with UPH. Accordingly, UPH did not enter into a lease for use of the Lake Ridge Property. Despite efforts by the Debtors, the Lake Ridge Property has been vacant since the closing of the transaction in May 2025. The Lake Ridge Property consist of one, single story building containing approximately 6,000 square feet of space zoned for medical use, with a partial basement, and attached parking lot. The Lake Ridge Property is subject to an Open-End Real Estate Mortgage in favor of Premier Bank, dated June 1, 2010 and recorded in the Dubuque County Iowa Recorders office at Book No. 2010 and Page No. 00007454, with said mortgage securing debt of $1,500,000 arising from Note 8650 and any and all other obligations of GRMG RE to Premier Bank. GRMG RE received a formal offer from JBY. Dr. Ronald Iverson and other members of GRMG RE's leadership determined that JBY's offer to acquire the Lake Ridge Property for $720,000.00 represented the highest and best offer and entered into the Agreements. The Debtor believes JBY offer is the highest and best offer received by the Debtors. The purchase price is the result of extensive negotiations between GRMG RE and JBY and is in line with current market prices for vacant real estate. Further, Debtors have no obligation to pay a commission or broker fee for the sale of the Lake Ridge Property and have instead negotiated that the JBY offer shall be excluded from Debtors' compensation of its existing property manager and broker, Cushman and Wakefield. The Agreements require a closing by December 15, 2025. The Debtors disclosed the nature of the sale within their Combined Disclosure Statement and Plan, which was circulated prior to the Petition Date and which has been accepted by all impaired classes. Accordingly, all parties with an actual or contingent interest in the Property have been aware of nature of the relief requested by the Motion. Premier Bank, who holds an interest in the Lake Ridge Property by virtue of a mortgage dated June 1, 2010 and recorded on June 3, 2010 with the Dubuque County Iowa Recorder's Office in Book 2010 and page 7454, has agreed that the proceeds of the sale of the Lake Ridge Property shall be applied to pay down Loan No. 8650, except that $125,000 of the proceeds shall be withheld to satisfy GRMG RE and its partner's tax obligations arising from the sale. Premier Bank has consented to the sale and distribution of proceeds is contained within the Restructuring Support Agreement. A strong business justification exists for the sale of Lake Ridge Property. The transfer and sale of the Lake Ridge Property is precisely the type of "value maximizing" transaction that is at the heart of Bankruptcy Code section 363. About GRMG Real Estate LLP GRMG Real Estate LLP is engaged in real estate. GRMG Real ought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Iow. Case No. 25-01208 (TJC)) on October 30, 2025. Jaden Glen Banks and Roy Ryan Leaf at Nyemaster Goode, P.C., represent the Debtor as legal counsel. GROFF TRACTOR: To Sell Construction Equipment Biz at Auction ------------------------------------------------------------ Groff Tractor Mid Atlantic LLC and its affiliates, Dealer 2023 LLC and Groff Tractor Holdings, LLC, seek permission from the U.S. Bankruptcy Court for the Northern District of Texas, Forth Worth Division, to sell Assets in an auction, free and clear of liens, claims, interests, and encumbrances. The Debtors have engaged with M&T, CASE, and CNH to sketch a framework for a sale process timeline that can maximize the value of the Debtors' assets in a sale of substantially all of the Debtors' assets pursuant section 363 of the Bankruptcy Code. In support of the Debtors' marketing and sale process, the Debtors and their advisors have developed the Bidding Procedures for the orderly and value-maximizing marketing and sale of the Debtors' business. Under the Bidding Procedures, parties may submit bids for the purchase and sale of all or part of the Debtors' businesses, in accordance with the Bidding Procedures. The Bidding Procedures are designed to continue to promote a competitive and robust bidding process, and to generate the highest or otherwise best value for the Debtors' estates, while allowing the Debtors to implement sale transactions on an expedited basis. The Debtors engaged TM Capital—the Debtors' proposed investment banker—to commence a solicitation process for a sale of the Debtors' assets. Accordingly, even prior to the filing of this Motion, and prior to the Petition Date, the Debtors and their advisors commenced the Marketing Process and have solicited indications of interest from a half dozen or more parties. The Bidding Procedures will enable the Debtors and their advisors to move expeditiously to complete a fulsome marketing process, receive, evaluate, and improve upon bids, execute one or more Stalking Horse Agreements if doing so will, in the Debtors' business judgment, maximize the value received for their assets, and hold an Auction (if necessary) to determine the highest or otherwise best bid (or bids). The Debtors intend to use the proceeds of any asset sale to repay the to-be-requested M&T debtor-in-possession financing facility and fund distributions under a chapter 11 plan of liquidation. The Debtors seek authority to create the Restructuring Committee—initially comprised of (a) the Debtors' prepetition manager, David Rex, and (b) the Debtors' Chief Restructuring Officer, Michael Juniper. To the extent that Rex and Juniper agree to the highest or otherwise best Bid(s) for designation as the Successful Bidder(s), then their joint decision shall constitute the valid exercise of the Debtors' business judgment consistent with the terms and provisions of the Bidding Procedures. However, if Rex and Juniper differ as to their determination of the highest or otherwise best Bid, then Robin Phelan shall serve as a tie-breaking member of the Restructuring Committee. The Debtors propose to establish the following key dates and deadlines for the sale process: Deadline to file the Cure Notice with the Court and serve the Cure Notice on the Contract Counterparties: November 10, 2025 Bidding Procedures Hearing: November 10, 2025 at 9:30 a.m. (CT) Deadline to Submit Non-Binding Letter of Intent: November 17, 2025 Deadline to Designate Stalking Horse Bid(s): December 1, 2025 Deadline to Submit Bids: December 12, 2025 at 5:00 p.m. (CT) Auction, if necessary, to be conducted at (i) the offices of Bonds Ellis Eppich Schafer Jones LLP (Fort Worth, Texas), and (ii) virtually, pursuant to procedures to be announced to bidders: December 15, 2025 (at a time to be announced). Sale Hearing: December 18, 2025. The Debtors market and sell CASE brand construction equipment, parts and products and provides repair and maintenance services for CASE® brand construction equipment pursuant to certain Case Construction Equipment Sales and Services Agreements which licensed GTMA to use the CASE® trademark and act as an authorized dealer for the sale and service of CASE® construction equipment as more particularly set forth in the Dealer Agreements. The Debtors also market and sell certain other branded construction equipment, parts and products, and provides repair and maintenance services in connection with such other branded goods. The Debtors believe that the time periods set forth in the Bidding Procedures are reasonable and will provide all Potential Bidders with sufficient time and information to submit a bid for the Debtors’ businesses and does not prejudice parties in interest. The Debtors are seeking approval of the Bidding Procedures to establish a clear process for the solicitation, receipt, and evaluation of bids on a timeline that allows the Debtors to consummate a Sale Transaction (or Sale Transactions) of some or all of the Debtors' assets that the Debtors believe is reasonable and will provide parties with sufficient time and information to submit a competitive bid. The flexibility to offer Bid Protections is a critical component of the Debtors' ability to obtain the commitment of one or more Stalking Horse Bidders. To qualify as a Stalking Horse Bidder, a bidder will need to have expended and will continue to expend time and resources negotiating, drafting, and performing due diligence activities necessitated by the Sale Transactions, despite the fact that its bid will be subject not only to Court approval, but also to overbidding by third parties. Any Bid Protections offered to a Stalking Horse Bidder will have been negotiated in good faith and at arm's length and with significant give-and-take with respect to such Bid Protections. As a result, by preserving the flexibility to offer Bid Protections, the Debtors ensure that their estates can realize the benefit of a transaction with a Stalking Horse Bidder without sacrificing the potential for interested parties to submit overbids at the Auction. The Restructuring Committee process enhances the transparency, neutrality, and integrity of the bid selection process. In similar contexts, courts in this Circuit have upheld the use of independent directors and committees to evaluate asset sales, finding that such structures reinforce the reliability of the Debtor's business judgment. The Debtors believe that the Assumption and Assignment Procedures are fair and reasonable, provide sufficient notice, and provide certainty to all parties-in-interest regarding their obligations and rights in respect thereof. About Groff Tractor Mid Atlantic Groff Tractor Mid Atlantic LLC and subsidiaries operates a network of construction equipment dealerships serving the Mid-Atlantic region of the United States. The Company sells, rents, and services heavy and compact construction machinery, offering parts and attachments for brands such as Wirtgen, Hamm, Vogele, Transtech, Thunder Creek, John Deere Equipment, and TopCon. Groff Tractor Mid Atlantic LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Tex. Case No. 25-90010) on October 14, 2025. In its petition, the Debtor reports estimated assets and liabilities between $100 million and $500 million each. Honorable Bankruptcy Judge Edward L. Morris handles the case. The Debtor is represented by Joshua N. Eppich, Esq. of BONDS ELLIS EPPICH SCHAFER JONES LLP. GWG HOLDINGS: Ex-CEO Indicted of Stealing $150MM ------------------------------------------------ Bonnie Eslinger of Law360 Bankruptcy Authority reports that the former chief executive of Texas financial services firm Beneficient allegedly orchestrated a fraudulent scheme to siphon more than $150 million from the now‑insolvent GWG Holdings, a publicly‑traded company of which he served as chairman, according to a federal grand jury indictment unsealed Tuesday in New York. The indictment alleges the executive leveraged shell entities and self‑dealing transactions to funnel company funds into personal accounts while misleading GWG’s board and auditors about the true nature of the transfers. The alleged misconduct occurred during his tenure as a chair and executive between 2019 and 2021, the report states. About GWG Holdings Headquartered in Dallas Texas, GWG Holdings, Inc. (NASDAQ: GWGH) conducts its life insurance secondary market business through a wholly owned subsidiary, GWG Life, LLC, and GWG Life's wholly owned subsidiaries. GWG Holdings Inc. and affiliates sought Chapter 11 bankruptcy protection (Bankr. S.D. Texas Lead Case No. 22-90032) on April 20, 2022. In the petition filed by Murray Holland, president and chief executive officer, GWG Holdings disclosed between $1 billion and $10 billion in both assets and liabilities. Judge Marvin Isgur oversees the cases. The Debtors tapped Mayer Brown, LLP and Jackson Walker, LLP, as bankruptcy counsels; Tran Singh, LLP as special conflicts counsel; FTI Consulting, Inc. as financial advisor; and PJT Partners, LP, as investment banker. Donlin Recano & Company is the Debtors' notice and claims agent. National Founders LP, a debtor-in-possession (DIP) lender, is represented by Michael Fishel, Esq., Matthew A. Clemente, Esq., and William E. Curtin, Esq., at Sidley Austin, LLP. The U.S. Trustee for Region 7 appointed an official committee to represent bondholders in the Debtors' cases. The committee tapped Akin Gump Strauss Hauer & Feld, LLP and Porter Hedges, LLP, as legal counsels; Piper Sandler & Co. as investment banker; and AlixPartners, LLP as financial advisor. The Debtors obtained confirmation of their Further Modified Second Amended Joint Chapter 11 Plan on June 20, 2023. GYLMAR DEVELOPMENTS: Unsecureds to Get Share of Income for 3 Years ------------------------------------------------------------------ Gylmar Developments Inc. filed with the U.S. Bankruptcy Court for the Southern District of Florida a Plan of Reorganization dated October 27, 2025. The Debtor is owned by Maria Gonazalez and operated by Ms. Gonzalez as president and her husband Leonardo Gomez as vice president. The Debtor owns commercial real property located in Doral, Florida (the "Doral Property"). The property previously served as a storage facility for the Debtor's affiliate, I-M Lean, LLC, which manufactured and sold vegan baked goods under the "Chef Cristy" brand in Florida, New York, and Maryland. Mr. Gomez is a real estate developer and in the past has operated real estate development projects through the Debtor. To replace the Debtor's income from food distributions from food sales, Mr. Gomez has agreed to contribute $10,000 from his real estate development business to the Debtor until the redevelopment of the Doral Property is complete and it begins generating revenue. Disposable Income Projections show estimated disposable income available to general unsecured creditors over 36 months following the Effective Date. Class 3 consists of General Unsecured Claims. Holders of Allowed Claims in Class 3 shall receive a pro rata distribution of the Disposable Income Sum. The Debtor will pay (a) $1,000 on the Effective Date; and (b) annual payments of $12,944 on the first, second, and third anniversary of the Effective date. This Class is impaired. The Debtor will keep its interest in property of the estate. After confirmation of the Plan, and under the Confirmation Order, the Debtor may take all necessary steps, and perform all necessary acts, to consummate the terms of the Plan. In addition to the provisions set forth elsewhere in the Plan, the following shall be the means for implementation of the Plan. The payment of the SouthState Claim shall be funded through a loan refinancing which will close either prior to confirmation of the Plan or shortly thereafter. The payment of general unsecured claims will come from income generated by the Debtor's business operations and, following completion of development of the Doral Property, through rental income. A full-text copy of the Plan of Reorganization dated October 27, 2025 is available at https://urlcurt.com/u?l=7diB5x from PacerMonitor.com at no charge. Counsel for the Debtor: Michael S. Hoffman, Esq. Lessne Hoffman, PLLC 100 SE 3rd Ave., 10th Floor Fort Lauderdale, FL 33394 Telephone: (954) 372-5759 Email: mhoffman@lessnehoffman.law About Gylmar Developments Inc. Gylmar Developments, Inc., is a Miami-based corporation headquartered at 8485 NW 54th Street. Gylmar Developments sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 25-18606) on July 2, 2025. In its petition, the Debtor reported estimated assets between $500,000 and $1 million and estimated liabilities between $1 million and $10 million. Bankruptcy Judge Robert A. Mark handles the case. Michael S. Hoffman, Esq., is the Debtor's legal counsel. SouthState Bank, as secured creditor, is represented by: Eric S. Golden, Esq. Burr & Forman, LLP 200 S. Orange Avenue, Suite 800 Orlando, FL 32801 Phone: (407) 540-6600 Fax: (407) 540-6601 egolden@burr.com mlucca-cruz@burr.com HABE INTERNATIONAL: Seeks Chapter 7 Bankruptcy in Puerto Rico ------------------------------------------------------------- On October 22, 2025, HABE International Restaurants Inc. sought Chapter 7 protection in the Puerto Rico bankruptcy court. The company's filing reports less than $100,000 in assets, debts between $100,001 and $1 million, and 1 to 49 creditors. About HABE International Restaurants Inc. HABE International Restaurants Inc. operates in the restaurant industry. HABE International Restaurants Inc. sought relief under Chapter 7 of the U.S. Bankruptcy Code (Bankr. D.P.R. Case No. 25-04786) on October 22, 2025. In its petition, the Debtor reports estimated assets up to $100,000 and estimated liabilities between $100,001 and $1 million. Honorable Bankruptcy Judge Mildred Caban Flores handles the case. The Debtor is represented by Wilbert Lopez Moreno, Esq. of Wilbert Lopez Moreno & Asociados. HADNOT LOGISTICS: Employs The Lane Law Firm as Counsel ------------------------------------------------------ Hadnot Logistics LLC seeks approval from the U.S. Bankruptcy Court for the Northern District of Texas to employ The Lane Law Firm PLLC to serve as counsel for its Chapter 11 case. The Lane Law Firm will provide these services: (a) assist, advise and represent the Debtor relative to the administration of the Chapter 11 case; (b) assist, advise and represent the Debtor in analyzing the Debtor's assets and liabilities, investigating the extent and validity of liens and claims, and participating in and reviewing any proposed asset sales or dispositions; (c) attend meetings and negotiate with the representatives of 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 protect the interests of the Debtor before said Courts and the United States Trustee; and (g) perform all other necessary legal services in these cases. The firm's billing rates are $650 per hour for Partner Robert C. Lane, $625 per hour for Managing Attorney Joshua D. Gordon, $575 per hour for Zach Casas, $450 per hour for Kyle Garza, and $250 per hour for bankruptcy paralegals. The Lane Law Firm received multiple payments for its retainer from the Debtor totaling $35,000 and will seek additional monthly post-petition payments subject to court approval. According to court filings, The Lane Law Firm is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code. The firm can be reached at: Robert C. Lane, Esq. The Lane Law Firm, PLLC 6200 Savoy, Suite 1150 Houston, TX 77036 Telephone: (713) 595-8200 Facsimile: (713) 595-8201 E-mail: notifications@lanelaw.com About Hadnot Logistics LLC Hadnot Logistics LLC sought protection under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Tex. Case No. 25-34270) on October 29, 2025. At the time of the filing, the Debtor had estimated assets of between $0 to $50,000 and liabilities of between $1,000,001 to $10 million. Judge Scott W. Everett oversees the case. The Lane Law Firm PLLC serves as the Debtor's legal counsel. HARVEY CEMENT: Gets Extension to Use Cash Collateral ---------------------------------------------------- Harvey Cement Products Incorporated received interim approval from the U.S. Bankruptcy Court for the Northern District of Illinois, Eastern Division, to use cash collateral until January 9, 2026, marking the sixth extension since its Chapter 11 filing. The sixth interim order authorized the Debtor to use the cash collateral of its secured creditors, Old National Bank and the U.S. Small Business Administration, to pay the expenses set forth in its budget, plus a 10% variance. As protection, SBA and Old National Bank were granted replacement liens on all of the Debtor's property whether acquired before or after the bankruptcy filing. In addition, the Debtor was ordered to keep the secured creditors' collateral insured. The next hearing is scheduled for January 6, 2026. Objections are due by December 30. As of the petition date, the Debtor had $20,000 in cash, $159,000 in accounts receivable, and $63,500 in inventory. These assets constitute the secured creditors' cash collateral. Old National Bank is represented by: Kristopher A. Capadona, Esq. Grogan Hesse & Uditsky, P.C. 2 Mid America Plaza, Suite 100 Oakbrook Terrace, IL 60181 Telephone: (630) 359-8197 kcapadona@ghulaw.com About Harvey Cement Products Incorporated Founded in 1947, Harvey Cement Products Incorporated has grown over the years to be one of the leading manufacturers of over 200 varieties and sizes of masonry products and is able to deliver customer orders to virtually any job site in the contiguous United States. Harvey filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. N.D. Ill. Case No. 24-18335) on December 5, 2024, listing between $1 million and $10 million in both assets and liabilities. Gordon Steck, vice president of Harvey, signed the petition. Judge Jacqueline P. Cox handles the case. The Debtor tapped Scott R. Clar, Esq., at Crane, Simon, Clar & Goodman as legal counsel and Laciak Accountancy Group, P.C. as accountant. HEADWAY WORKFORCE: Seeks to Extend Plan Exclusivity to Dec. 18 -------------------------------------------------------------- Headway Workforce Solutions, Inc. and its affiliates asked the U.S. Bankruptcy Court for the Eastern District of North Carolina to extend their exclusivity periods to file a plan of reorganization and obtain acceptance thereof to December 18, 2025 and February 16, 2026, respectively. Since the Oct. 2 Extension Order, the parties continued to work toward a proposed plan under those terms. At a hearing before this Court on October 16, counsel for the Debtors informed the Court that there was an apparent disagreement between the parties as to the value of the NOLs and that the Debtors' principal was working with Jackson's tax advisors to address the issues. The Debtors explain that they have pivoted and are considering their options for the terms of a consensual plan. Counsel for the Debtors met with counsel for the Committee and informed them of Jackson's decision and discussed the process for moving forward on other potential plan alternatives, including the potential for finding an alternative purchaser of the reorganized equity interests and preservation of the tax attributes. The Debtors claim that as the transaction with Jackson was the expected centerpiece of their plan, significant revisions will need to be made to put forth a confirmable plan that has the support of the parties. The Debtors assert that they will continue to work with their creditor constituencies on terms relating to post-petition financing and a plan of reorganization. To permit the Debtors the time and opportunity to pursue a consensual exit, the Debtors seek an additional 45-day extension of the Court's Extension Order to develop, circulate and receive feedback from interested parties on the terms of the proposed plan. Counsel to the Debtors: Jason L. Hendren, Esq. Rebecca Redwine Grow, Esq. Benjamin E.F.B. Waller, Esq. Lydia C. Stoney, Esq. Hendren, Redwine & Malone, PLLC 4600 Marriott Drive, Suite 150 Raleigh, NC 27612 Tel: (919) 573-1422 Fax: (919) 420-0475 E-mail: jhendren@hendrenmalone.com rredwine@hendrenmalone.com bwaller@hendrenmalone.com lstoney@hendrenmalon.com - and - Kirk B. Burkley, Esq. Bernstein-Burkley, PC 601 Grant Street, 9th Floor Pittsburg, PA 15219 Tel: (412) 456-8100 E-mail: kburkley@bernsteinlaw.com About Headway Workforce Solutions Headway Workforce Solutions, Inc., sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.C. Case No. 25-01682-5-JNC) on May 5, 2025. In the petition signed by Brendan Flood, chief executive officer, the Debtor disclosed up to $50 million in both assets and liabilities. Judge Joseph N. Callaway oversees the case. Rebecca Redwine Grow, Esq., at Hendren, Redwine & Malone, PLLC, is the Debtor's legal counsel. Noor Staffing Group, LLC, as DIP lender, is represented by: Pamela P. Keenan, Esq. Kirschbaum, Nanney, Keenan & Griffin, P.A. PO Box 19766 Raleigh, NC 27619-9766 Telephone: (919) 848-0420 Facsimile: (919) 848-8755 Email: pkeenan@kirschlaw.com HERITAGE SALVAGE: Mark Sharf Named Subchapter V Trustee ------------------------------------------------------- The U.S. Trustee for Region 17 appointed Mark Sharf, Esq., a practicing attorney in Los Angeles, as Subchapter V trustee for Heritage Salvage Inc. Mr. Sharf will charge $660 per hour for his services as Subchapter V trustee and will seek reimbursement for work-related expenses incurred. Mr. Sharf declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Mark Sharf, Esq. 6080 Center Drive, 6th Floor Los Angeles, CA 90045 Telephone: (323) 612-0202 Email: mark@sharflaw.com About Heritage Salvage Inc. Heritage Salvage Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Calif. Case No. 25-10677) on October 26, 2025, listing between $100,001 and $500,000 in assets and liabilities. Judge William J. Lafferty presides over the case. Gina R. Klump, Esq., at the Law Office of Gina R. Klump represents the Debtor as bankruptcy counsel. I V SUPPORT: Court OKs Deal to Extend Cash Collateral Access ------------------------------------------------------------ The U.S. Bankruptcy Court for the Central District of California, Santa Ana Division, approved the stipulation between I V Support Systems, Inc. and the U.S. Small Business Administration allowing continued use of cash collateral. Under the stipulation, the Debtor is authorized to use SBA's cash collateral through May 10, 2026, pursuant to its budget, with a 10% variance allowed. As adequate protection for the Debtor's use of its cash collateral, SBA will receive cash payments and a replacement lien (matching its pre-bankruptcy lien's extent, validity and priority) on assets of the Debtor. The replacement lien does not apply to avoidance claims and their proceeds. The stipulation is available at https://is.gd/RFrhQp from PacerMonitor.com. The Debtor's only secured creditor is SBA, which holds a $300,000 loan secured by a blanket lien on its tangible and intangible personal property. SBA's cash collateral consists primarily of revenues from accounts receivable and inventory. About I V Support Systems Inc. I V Support Systems, Inc. specializes in the repair, maintenance, and sale of biomedical equipment. I V Support Systems sought protection under Chapter 11 of the Bankruptcy Code (Bankr. C.D. Calif. Case No. 25-12139) on July 31, 2025, listing up to $500,000 in assets and up to $1 million in liabilities. George Davis, chief executive officer of I V Support Systems, signed the petition. Judge Mark D. Houle oversees the case. Aaron E. de Leest, Esq., at Marshack Hays Wood, LLP, represents the Debtor as legal counsel. INSPIREMD INC: Craig Shore Holds 3.5% Equity Stake -------------------------------------------------- Craig Shore, disclosed in a Schedule 13D (Amendment No. 1) filed with the U.S. Securities and Exchange Commission that as of June 26, 2025, he beneficially owns 1,484,505 shares of InspireMD, Inc.'s common stock, $0.0001 par value per share, representing 3.5% of the class based on 41,720,662 shares outstanding as of August 4, 2025, as reported by the Company. The holdings consist of 1,066,799 shares of common stock and options to purchase 417,706 shares that are currently exercisable or exercisable within 60 days of the reporting date. Craig Shore may be reached through: Craig Shore 4 Menorat Hamaor St. Tel Aviv, Israel 6744832 Tel: (888) 776-6804 A full-text copy of Craig Shore's SEC report is available at https://tinyurl.com/4bbf3nxs About InspireMD Headquartered in Tel Aviv, Israel, InspireMD, Inc. -- http://www.inspiremd.com/-- is a medical device company focusing on the development and commercialization of its proprietary MicroNet stent platform technology for the treatment of complex vascular and coronary disease. A stent is an expandable "scaffold-like" device, usually constructed of a metallic material, that is inserted into an artery to expand the inside passage and improve blood flow. Its MicroNet, a micron mesh sleeve, is wrapped over a stent to provide embolic protection in stenting procedures. Tel-Aviv, Israel-based Kesselman & Kesselman, the Company's auditor since 2010, issued a "going concern" qualification in its report dated March 12, 2025, attached to the Company's Annual Report on Form 10-K for the year ended December 31, 2024, citing that the Company has suffered recurring losses from operations and cash outflows from operating activities that raise substantial doubt about its ability to continue as a going concern. As of December 31, 2024, the Company had $46.8 million in total assets, $10.7 million in total liabilities, and $36.1 million in total stockholders' equity. ITALIAN ORIGINAL: Seeks Chapter 7 Bankruptcy in Florida ------------------------------------------------------- On October 21, 2025, Italian Original Inc. voluntarily filed for Chapter 7 bankruptcy in the Middle District of Florida. According to its petition, the company reported debts valued between $100,001 and $1 million, and listed up to 49 creditors in total. About Italian Original Inc. Italian Original Inc. operates in the restaurant industry. Italian Original Inc. sought relief under Chapter 7 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. CaseNo. 25-07780) on October 21, 2025. In its petition, the Debtor reports estimated assets and liabilities between $100,001 and $1 million each. Honorable Bankruptcy Judge Caryl E. Delano handles the case. The Debtor is represented by Richard John Cole, III, Esq., of Cole & Cole Law, P.A. JACKSON HOSPITAL: Plan Exclusivity Period Extended to Dec. 31, 2025 ------------------------------------------------------------------- Judge Christopher L. Hawkins of the U.S. Bankruptcy Court for the Middle District of Alabama extended Jackson Hospital & Clinic, Inc., and its affiliated debtors' exclusive periods to file a plan of reorganization and obtain acceptance thereof to Dec. 31, 2025 to Jan. 31, 2026, respectively. In a court filing, based on the factors and the history of these proceedings, the Debtors submit that sufficient "cause" exists pursuant to section 1121(d) of the Bankruptcy Code to extend the Exclusive Periods. The following relevant factors each weighs in favor of an extension of the Exclusive Periods: * The Debtors Have Made Good Faith Progress. Since the Court granted the Third Motion, the Debtors have made significant progress toward an exit strategy. The Debtors concluded negotiations with parties in interest to determine the best path forward to maximize the value of the estate, whether by sale or other means. The DIP Amendment requires the Debtor to file a plan acceptable to the DIP Lender by December 1, 2025. A brief extension of the Exclusivity Periods is warranted and prudent in order to allow the Debtors and the DIP Lender to continue working on the preconditions to filing a plan. * The Necessity of Sufficient Time To Negotiate And Prepare Adequate Information. As stated above, the Debtors, in their business judgment, have decided to move forward with the DIP Lender's proposed path forward. Now that the DIP Amendment has been approved, the Debtors can continue to negotiate the terms of a consensual plan, but need additional time to do so. * An Extension of the Exclusivity Periods Will Not Prejudice Creditors. Continued exclusivity will permit the Debtors to maintain flexibility and optionality so that competing plans do not derail the Debtors' bankruptcy process. Moreover, throughout these Chapter 11 Cases, the Debtors have had ongoing and transparent communications with their major creditor groups, including their secured lenders. Extending the Exclusivity Periods will benefit the Debtors' estates, their creditors, and all other key parties in interest. Among other things, the Debtors have actively engaged with the Creditors' Committee concerning their assets and potential paths forward. * An Extension Will Not Pressure Creditors. The Debtors are not seeking an extension of the Exclusivity Periods to pressure or prejudice any of their stakeholders. To the contrary, the Debtors are proposing an extension of exclusivity in order to have additional time to finalize their strategy for a plan involving the DIP Lender without the distraction, confusion, and unnecessary expense that could be created by multiple competing plans. Counsel for the Debtors: Derek F. Meek, Esq. Marc P. Solomon, Esq. Catherine T. Via, Esq. James H. Haithcock III, Esq. Burr & Forman LLP 420 20th Street North, Suite 3400 Birmingham, Alabama 35203 Telephone: (205) 251-3000 E-mail: dmeek@burr.com msolomon@burr.com jhaithcock@burr.com cvia@burr.com About Jackson Hospital & Clinic Jackson Hospital & Clinic, Inc., is a non-membership, non-profit corporation based in Alabama. JHC is the direct or indirect parent company of JHC Pharmacy, LLC, an Alabama limited liability company that provides pharmacy services to JHC patients. JHC owns 100% of JHC Pharmacy. Additionally, JHC is a direct or indirect parent company of certain other entities that have not filed for bankruptcy. JHC operates a 344-bed healthcare facility in Montgomery, Ala., with a rich history dating back to 1894. Since its official opening in 1946, JHC has grown into one of the largest hospitals in Alabama, offering specialized services in cardiac care, cancer treatment, neurosciences, orthopedics, women's care, and emergency services. JHC's service area includes 16 counties across central Alabama. JHC and JHC Pharmacy filed Chapter 11 petitions (Bankr. M.D. Ala. Lead Case No. 25-30256) on Feb. 4, 2025. In its petition, JHC reported between $100 million and $500 million in both assets and liabilities. Judge Christopher L. Hawkins handles the cases. The Debtors are represented by Derek F. Meek, Esq. at Burr & Forman, LLP. JB GROUP: Gets Final OK to Use Cash Collateral ---------------------------------------------- JB Group of LA, LLC received final approval from the U.S. Bankruptcy Court for the Middle District of Louisiana to use cash collateral to fund operations. The final order authorized the Debtor to use cash collateral held by secured creditors in accordance with its budget, subject to a 5% variance. As adequate protection, secured creditors will receive replacement liens in the same priority and amount of their interest held as of the petition date on any post-petition accounts receivable; and a superpriority administrative claim up to the amount of any diminution in value resulting from the Debtor's use of cash collateral. All adequate protection liens and claims are subordinate to the carveout, which covers U.S. Trustee fees and professional fees (capped at $30,000). The order is available at https://is.gd/9zRyCq from PacerMonitor.com. As of the petition date, the Debtor had cash on hand of approximately $232,375, which may be subject to interests held by secured creditors. The creditors that may hold a putative interest in cash collateral, some of which are disputed, are b1bank, ISG Capital Group, LLC, Velocity Capital Group, LLC, and HM South Texas Stabilized Sand, LLC. The Debtor's working capital has primarily been provided by b1Bank. In October 2022, the Debtor executed a $3 million promissory note and related loan agreement in favor of b1Bank. In exchange, b1Bank was granted a security interest in, among other things, inventory, accounts, equipment and general intangibles. About JB Group of LA LLC JB Group of LA LLC, doing business as ISG Infrastructure Group, provides electrical, instrumentation, communications, and renewable energy solutions to public and private sector clients, including the U.S. Army Corps of Engineers, military installations, state departments of transportation, and industrial customers in data, energy, and manufacturing sectors. JB Group of LA sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. La. Case No. 25-10807) on September 12, 2025. In its petition, the Debtor reported estimated assets up to $50,000 and estimated liabilities between $10 million and $50 million. The Debtor is represented by Paul Douglas Stewart, Jr., Esq., at Stewart Robbins Brown & Altazan, LLC. ISG Capital Group, LLC, as DIP lender, is represented by: David S. Rubin, Esq. Butler Snow LLP 445 N. Blvd. Suite 300 Baton Rouge, LA 70802 Telephone: (225) 325-8700 Fax: 225-325-8800 david.rubin@butlersnow.com JOSEPH G. BABA: Unsecureds to Get Share of Income for 3 Years ------------------------------------------------------------- Joseph G. Baba, D.D.S., P.A., filed with the U.S. Bankruptcy Court for the District of Kansas a Plan of Reorganization dated October 27, 2025. The Debtor is a dental office in Wichita, Kansas, doing business under the name TMJ & Sleep Therapy Centre of Kansas. The Debtor was founded by Joseph G. Baba, D.D.S. in 1987. In 2018, Mark J. McLaren, D.D.S., joined the practice. At that time, Dr. Baba owned 100% of the Debtor. Dr. McLaren purchased fifty percent (one-half) of the Debtor in 2019, and the remaining interest of Dr. Baba in 2021. Dr. McLaren is now the sole owner of the Debtor. To fund the initial buy-in to the Debtor in 2019, Dr. McLaren acquired a personal loan to pay Dr. Baba. For funding the purchase of the remaining stock in 2021, the remaining amount of that personal loan was paid off and incorporated into a business loan through Emprise Bank, secured by the assets of the Debtor and guaranteed by Dr. McLaren and by Dr. Baba. As of the Effective Date of the Plan, all of the Disposable Income of the Debtor to be received in the three-year Plan Period, beginning on the date that the first payment is due under the Plan, shall be applied to make the payments to Unsecured Claims Plan Period. The Budget shows that the Debtor will have sufficient net income to fund the payments required by the Plan. Class 4 consists of the General Unsecured Claims as of the filing date, including the undersecured portion of the Class 2 and Class 3 Claims. The allowed Class 4 Claims shall be paid the Debtor's Disposable Income for the preceding calendar year for three calendar years, commencing with the first payment date coming due after the Effective Date. Payment shall be made not later than January 31, 2027, January 31, 2028, and January 31, 2029. Distributions to the Class 4 Claims shall be made on a Pro Rata basis. All Allowed Class 4 Claims are impaired and entitled to vote on the Plan. Class 5 Equity Ownership Interests consists of the shares of Debtor's stock held by its sole shareholder, Mark McLaren. Dr. McLaren shall retain his stock in the Debtor. Class 5 is unimpaired and not entitled to vote on the Plan. So long as any obligations are owed to Emprise, Debtor shall be prohibited from making any distributions or dividends to shareholder, other than salary, distributions, and benefits described herein. A full-text copy of the Plan of Reorganization dated October 27, 2025 is available at https://urlcurt.com/u?l=QqmtZG from PacerMonitor.com at no charge. Counsel to the Debtor: January M. Bailey, Esq. Prelle Eron & Bailey, P.A. 301 N Main St Ste 2000 Wichita, KS 67202-4820 Tel: (316) 262-5500 Fax: (316) 262-5559 Email: january@eronlaw.net About Joseph G. Baba, D.D.S., P.A. Joseph G. Baba, D.D.S. P.A., doing business as TMJ & Sleep Therapy Centre of Kansas, provides personalized evaluation and treatment of temporomandibular joint disorders, craniofacial pain and sleep-related breathing disorders from its Kansas practice. Founded and led by Dr. Joseph G. Baba, the Centre combines dental orthopedic and sleep medicine expertise to deliver tailored, non-invasive therapies aimed at relieving headaches, jaw pain and sleep disturbances. Joseph G. Baba, D.D.S. P.A. sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Kan. Case No. 25-10771) on July 28, 2025. In its petition, the Debtor reports total assets of $277,330 and total liabilities of $2,580,530. The Debtor is represented by January M Bailey, Esq., at Prelle Eron & Bailey, P.A. KARYOPHARM THERAPEUTICS: Vanguard Group Holds 4.7% Stake -------------------------------------------------------- The Vanguard Group, disclosed in a Schedule 13G filed with the U.S. Securities and Exchange Commission that as of September 30, 2025, it beneficially owns 408,222 shares of common stock, consisting of 355,817 shares with sole dispositive power and 52,405 shares with shared dispositive power, and 49,414 shares with shared voting power, of Karyopharm Therapeutics Inc.'s common stock, representing approximately 4.70% of the shares outstanding. The Vanguard Group may be reached through: Ashley Grim Head of Global Fund Administration The Vanguard Group 100 Vanguard Blvd. Malvern, PA 19355 Tel: 610-669-1000 A full-text copy of The Vanguard Group's SEC report is available at https://tinyurl.com/4s4spxaw About Karyopharm Therapeutics Karyopharm Therapeutics Inc. operates as an oncology-focused pharmaceutical company. The Company offers combination with dexamethasone as a treatment for patients with pretreated multiple myeloma, as well as provides single-agent and combination activity against a variety of human cancers. Karyopharm Therapeutics serves patients in the United States, Germany, and Israel. As of June 30, 2024, the Company had $104.88 million in total assets, $343.81 million in total liabilities, and $238.93 million in total stockholders' deficit. Boston, Massachusetts-based Ernst & Young LLP, the Company's auditor since 2014, issued a "going concern" qualification in its report dated February 19, 2025, citing that the Company has incurred significant operating losses since inception, expects to incur significant operating losses for the foreseeable future, and has stated that substantial doubt exists about the Company's ability to continue as a going concern. LANDERS DEVELOPMENT: Voluntary Chapter 11 Case Summary ------------------------------------------------------ Debtor: Landers Development LLC 6720 Alcoa Road Benton, AR 72015 Case No.: 25-13827 Business Description: Landers Development, LLC, based in Benton, Arkansas, provides residential and commercial construction services, including home building and housing development, primarily within the state. Chapter 11 Petition Date: October 31, 2025 Court: United States Bankruptcy Court Eastern District of Arkansas Judge: Hon. Phyllis M Jones Debtor's Counsel: Jennifer Lancaster, Esq. LANCASTER & LANCASTER LAW FIRM PO Box 1295 Benton, AR 72018 Email: jennifer@cornerstoneAR.law Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Nick Landers as member. The Debtor failed to attach a list of its 20 largest unsecured creditors to the petition. A full-text copy of the petition is available for free at PacerMonitor.com at https://urlcurt.com/u?l=qeQHtt LATITUDE 46: Gets Final OK to Use Cash Collateral ------------------------------------------------- The U.S. Bankruptcy Court for the District of Colorado granted Latitude 46 North, LLC's bid to use cash collateral on a final basis. The final order authorized the Debtor to use cash collateral in accordance with its six-month budget. The Debtor may deviate up to 15% on individual budget items without court or creditor approval. As adequate protection, the Colorado Department of Revenue and potential secured creditors will be granted replacement liens on the Debtor's post-petition accounts, income and other assets, with the same priority as their pre-bankruptcy liens. As further protection, the Debtor was ordered to keep all collateral insured, provide monthly financial reports, and maintain compliance or risk termination of cash collateral use. The final order preserves all creditors' rights regarding claims and lien positions. The Debtor has identified two merchant cash advance companies, Itriaventures and The Fundworks, as potential secured creditors whose financing statements do not clearly identify properly perfected security interests. Meanwhile, the Debtor owes $24,178 in unpaid sales taxes to the Colorado Department of Revenue, which may assert a priority lien on its assets. These creditors may have claims to the cash collateral. As of the petition date, the Debtor had only $710.32 in its bank account and depends on ongoing revenues from daily operations. About Latitude 46 North LLC Latitude 46 North, LLC owns and operates My Cellar Wine Bar, a wine bar located in North Colorado Springs. Latitude 46 North filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. D. Colo. Case No. 25-16471) on October 6, 2025, listing up to $50,000 in assets and between $100,001 and $500,000 in liabilities. Joli A. Lofstedt, Esq., serves as Subchapter V trustee. Judge Thomas B. Mcnamara presides over the case. Bonnie Bell Bond, Esq., represents the Debtor as legal counsel. LUMEN TECHNOLOGIES: Posts $621 Million Net Loss in Fiscal Q3 ------------------------------------------------------------ Lumen Technologies, Inc. filed with the U.S. Securities and Exchange Commission its Quarterly Report on Form 10-Q reporting a net loss of $621 million and $148 million for the three months ended September 30, 2025 and 2024, respectively. For the nine months ended September 30, 2025 and 2024, the Company reported a net loss of $1.74 billion and $140 million, respectively. The Company's operating revenues for the three months ended September 30, 2025 and 2024, were $3.09 billion and $3.22 billion, respectively. For the nine months ended September 30, 2025 and 2024, the Company had operating revenues of $9.36 billion and $9.78 billion, respectively. As of September 30, 2025, the Company had $34.29 billion in total assets, $35.46 billion in total liabilities, and $1.17 billion in total stockholders' deficit. The Company had an accumulated deficit of $19.7 billion as of September 30, 2025. "This quarter, we demonstrated what disciplined execution and bold ambition can achieve," said Kate Johnson, president and CEO of Lumen Technologies. "We delivered strong financial results -- revenue, EBITDA, and free cash flow all ahead of expectations -- while advancing our transformation agenda. Our investments in Private Connectivity Fabric, NaaS, and digital innovation are opening new doors, and the momentum is unmistakable. We're scaling our platform, expanding our reach, and accelerating our pivot to sustainable growth as we build the backbone of the AI economy. I'm proud of our team's accomplishments -- and even more excited for what's ahead." A full-text copy of the Company's Form 10-Q is available at: https://tinyurl.com/r86v3zax About Lumen Technologies Headquartered in Monroe, Louisiana, Lumen Technologies, Inc. -- https://lumen.com/ -- is a facilities-based technology and communications company that provides a broad array of integrated products and services to its domestic and global business customers and its domestic mass markets customers. The Company's platform empowers its customers to swiftly adjust digital programs to meet immediate demands, create efficiencies, accelerate market access, and reduce costs, which allows its customers to rapidly evolve their IT programs to address dynamic changes. As of June 30, 2025, it had $32.98 billion in total assets, $33.57 billion in total liabilities, and $595 million in total stockholders' deficit. As of September 30, 2025, the Company had $34.29 billion in total assets, $35.46 billion in total liabilities, and $1.17 billion in total stockholders' deficit. * * * In July 2025, Fitch Ratings has placed the Long-Term Issuer Default Ratings (IDRs) of Lumen Technologies Inc., Level 3 Parent LLC, Level 3 Financing Inc., Qwest Corporation and related subsidiaries on Rating Watch Positive (RWP). The current Long-Term IDR for each rated entity is 'CCC+'. LUNAI BIOWORKS: Fails to Meet Nasdaq Listing Requirement -------------------------------------------------------- Lunai Bioworks Inc. disclosed in a Form 8-K Report filed with the U.S. Securities and Exchange Commission that on October 27, 2025, it received a notification letter from the Listing Qualifications Department of The Nasdaq Stock Market LLC indicating that the Company is not in compliance with the $35 million minimum Market Value of Listed Securities requirement set forth in Nasdaq Listing Rule 5550(b)(2) for Capital Market. The Notice stated that the Company's MVLS had been below $35 million for the previous 30 consecutive business days, and that, in accordance with Nasdaq rules, the Company has a period of 180 calendar days, or until April 27, 2026 to regain compliance. To regain compliance, the Company's MVLS must close at $35 million or more for a minimum of 10 consecutive business days during the compliance period, at which time Nasdaq will provide written confirmation that the deficiency has been cured and the matter is closed. The Notice is not expected to have any immediate effect on the listing or trading of the Company's common stock, which will continue to trade on the Nasdaq Capital Market under the symbol "LNAI." If the Company does not regain compliance by the end of the compliance period, Nasdaq will notify the Company that its securities are subject to delisting. At that time, the Company may appeal the determination to a Nasdaq Hearings Panel, which would stay the delisting pending a decision by the Panel. The Company intends to monitor its MVLS and may consider available options, including potential corporate actions, to regain compliance within the prescribed compliance period. About Lunai Bioworks Headquartered in Los Angeles, Calif., Lunai Bioworks Inc. (formerly Renovaro Inc.) is an AI-powered drug discovery and biodefense company pioneering safe and responsible generative biology. With proprietary neurotoxicity datasets, advanced machine learning, and a focus on dual-use risk management, Lunai is redefining how artificial intelligence can accelerate therapeutic innovation while safeguarding society from emerging threats. As of June 30, 2025, the Company had total assets of $8.23 million, $29.58 million in total liabilities, and $21.35 million in total shareholders' deficit. Draper, Utah-based Sadler, Gibb & Associates, LLC, the Company's auditor since 2018, issued a "going concern" qualification in its report dated September 29, 2025, attached to the Company's Annual Report on Form 10-K for the fiscal year ended June 30, 2025, citing that the Company has incurred substantial recurring losses from operations, has used cash in the Company's continuing operations, and is dependent on additional financing to fund operations, which raises substantial doubt about its ability to continue as a going concern. MARFA CABINETS: To Sell Cabinet Business to New Marfa Holdings -------------------------------------------------------------- Marfa Cabinets LLC seeks permission from the U.S. Bankruptcy Court for the Northern District of Illinois, Eastern Division, to sell Property in a private sale, free and clear of liens, claims, interests, and encumbrances. The Debtor is engaged in the business of manufacturing and selling sophisticated, high-end kitcken cabinets and bathroom vanities with a factory showroom located at 2050 S. Mount Prospect Road, Des Plaines, Illinois. The Debtor’s senior secured lender is Millennium Bank, which asserts a lien on substantially all assets in the Debtor pursuant to that certain Promissory Note dated August 1, 2019 and related security documents. The Debtor believes that Buyer, New Marfa Holdings LLC, is the only party interested in purchasing the Assets. The purchase price will be a) the amount of the DIP Loan, which will be paid off in cash at closing, b) the amounts due and all other obligations of Debtor under the terms of the equipment leases, c) the sum of $3,024,579.73 which the Debtor owes to Millennium Bank, and d) $40,000, which shall be paid as administrative expenses to the Debtor's professionals. the DIP Loan will be satisfied in cash at closing, and all liens and security interests held by Kitchencrest will be released upon payment. The Buyer will also be assuming certain other liabilities in connection with the transaction. The Closing Date to occur no earlier than 15 days and no later than 30 days after entry of the Sale Order, unless mutually agreed. A 3% of the Purchase Price plus up to $25,000 expense reimbursement if Seller completes transaction with an alternative party. The Debtor also does not believe additional marketing will result in competitive bidding. An auction would therefore merely delay the sale process, with the potential to result in the Debtor's operations (and corresponding loss of jobs) being shut down due to lack of funding, without any significant benefit for the Debtor's estate. The Assets are being sold free and clear of all liens, claims, and encumbrances. About Marfa Cabinets LLC Marfa Cabinets LLC, formerly Marfa Cabinets, Inc., is a Chicago-based manufacturer of high-end kitchen cabinets and bathroom vanities that combines modern and traditional design elements to produce custom residential cabinetry. The Company operates a manufacturing facility in Illinois where an in-house team of designers and craftsmen produce cabinets and vanities using European-sourced materials from Italy and Spain and equipment imported from Europe. Marfa Cabinets operates in the household furniture and kitchen cabinet manufacturing sector, supplying custom, made-in-USA cabinetry for premium residential projects. Marfa Cabinets LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 25-12238) on August 11, 2025. In its petition, the Debtor reported up to $50,000 in assets and between $1 million and $10 million in liabilities. Honorable Bankruptcy Judge Deborah L. Thorne handles the case. The Debtor is represented by Gregory K. Stern, Esq., at Gregory K. Stern, P.C. MARLIN CONSTRUCTION: Unsecureds to Get Share of Income for 3 Years ------------------------------------------------------------------ Marlin Construction Group, LLC, submitted an Amended Small Business Plan under Subchapter V dated October 27, 2025. The Plan provides for: 1 class of non-priority unsecured claims and 1 class of equity security holders. The Debtor must also show that it will have sufficient cash over the life of the Plan to make the payments required under the Plan. The Debtor's financial projections show that the Debtor will be able to make distributions to Holders of Allowed Claims. The Debtor anticipates that the first payment to Holders of Allowed Unsecured Claims will be made in the first quarter of 2026, but that is subject to change depending on the Effective Date. The Plan provides for the Distribution of all available assets belonging to the Debtor including the proceeds of any Causes of Action. Class 1 to is comprised of the Allowed Unsecured Claims. The total amount of liquidated, scheduled and filed Claims comprising Class 1 is approximately $732,932.55 which is subject to change depending objections to such Claims. Each Holder of an Allowed Claim in Class 1 will receive: (1) its pro rata share of the Debtor's projected Disposable Income for the three years following the Effective Date (the "Disposable Income Component"), (2) plus any net recoveries to the Debtor on account of the Professional Malpractice Claims. Distributions to Holders of Allowed Claims in Class 1, whether through the Disposable Income Component or otherwise, shall not exceed the Allowed Amount of such Claims. The pro rata share of Distributions on account of any Allowed Claim in Class 1 will be calculated as a fraction of the amount of any such Distribution, the numerator of which shall be the Allowed Amount of the Class 1 Claim of any particular Holder of a Class 1 Claim and the denominator of which shall be the aggregate amount of all Allowed Claims in Class 1. The first Distribution of the Disposable Income Component shall be made on or before the first Business Day that is 30 days after the Effective Date in the amount of $500. Thereafter, the Distributions on the Disposable Income Component shall be made in three yearly installments the first of which is due on the first Business Day that is one year after the Effective Date. The last payment is due on the first Business Day that is three years after the Effective Date. The Debtor may, in its sole discretion, prepay the Disposable Income Component at any time without any penalty. Class 2 is comprised of all Equity Interests in the Debtor. Holders of Equity Interests shall be entitled to retain such Interests; provided, however, that Holders of Allowed Equity Interests shall not be entitled to any Distribution from the Estate on account of such Equity Interests until the satisfaction of all Allowed Administrative Claims and Allowed Unsecured Claims. Payments required under the Plan will be funded from the Cash held by the Debtor on the Effective Date and revenue or other funds received by the Debtor after the Effective Date after payment of operating expenses including from the net proceeds from the pursuit of any Causes of Action held by the Debtor on the Effective Date. With the foregoing assets, the Debtor believes it will be able to (i) pay in full all Allowed Administrative Expense Claims, and (ii) make a Distribution to Holders of Allowed Unsecured Claims in an amount greater than those parties would receive in a chapter 7 liquidation. A full-text copy of the Amended Plan dated October 27, 2025 is available at https://urlcurt.com/u?l=i4k3uR from PacerMonitor.com at no charge. Counsel to the Debtor: Andrew J. Wit, Esq. Jennis Morse 606 East Madison Street Tampa, FL 33606 Tel: (813) 229-2800 Email: awit@jennislaw.com About Marlin Construction Group LLC Marlin Construction Group LLC is a construction company based in St. Petersburg, Florida. Marlin Construction Group LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 25-04985) on July 21, 2025. In its petition, the Debtor reports estimated assets and liabilities between $100,000 and $500,000 each. Honorable Bankruptcy Judge Roberta A. Colton handles the case. The Debtor is represented by Andrew J. Wit, Esq. at Jennis Morse. MG LOGISTICS: Court Extends Cash Collateral Access to Jan. 15 ------------------------------------------------------------- MG Logistics Incorporated received third interim approval from the U.S. Bankruptcy Court for the Northern District of Illinois to use cash collateral. The interim order authorized the Debtor to use the cash collateral of its secured lenders from November 1 through January 15, 2026, for the disbursements set forth in the budget. The Debtor projects total operational expenses of $314,705.76 for November; $316,194 December; $314,645.76 for January 2026. Existing protections from prior orders continue for all secured lenders, including PNC Bank and Daimler Truck Financial Services USA, LLC. As adequate protection for the Debtor's use of their cash collateral, lenders will be granted a security interest in and lien on all assets of the Debtor, including assets acquired by the Debtor after its Chapter 11 filing, with the same priority as the lenders' pre-bankruptcy lien. These replacement liens do not apply to any causes of action under the Bankruptcy Code and are subject only to (i) any lien on the Debtor's assets that the court may approve in the future as being senior to a lender's lien; (ii) valid, perfected, and enforceable pre-bankruptcy liens, which are senior to the lenders' respective liens or security interests as of the petition date; (iii) the payment of the U.S. trustee's fees; and (iv) the amount of the Debtor's professionals' fees and disbursements accrued as of the date of the termination of the Debtor's use of cash collateral. As further protection, the Debtor will make the following payments to lenders: (i) A monthly payment of $7,500 to M&T Equipment Finance Corp. for each of November, December and January; (ii) A monthly payment of $35,000 to Bank Midwest for November, December and January 2026 (Increases to $40,000 per month starting February 2026); (iii) Debtor agrees Bank Midwest’s claim is fully secured, valued at $2,214,347.89 as of August 1. The next hearing is set for January 13, 2026. The deadline for filing objections is on January 6, 2026. A copy of the interim order is available at https://shorturl.at/9Ff44 from PacerMonitor.com. Bank Midwest is represented by: Benjamin J. Court, Esq. Stinson LLP 50 South Sixth Street, Suite 2600 Minneapolis, MN 55402 Phone: 612-335-1500 Fax: 612-335-1657 benjamin.court@stinson.com M&T is represented by: Kenneth D. Peters, Esq. Dressler Peters, LLC 101 W. Grand Ave., Suite 404 Chicago, IL 60654 Phone: 312-602-7360 Fax: 312-637-9378 kpeters@dresslerpeters.com jmmertz@michaelbest.com About MG Logistics Incorporated MG Logistics Incorporated provides freight transportation services across the U.S. The Company operates from Huntley, Illinois, and is authorized for interstate trucking. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 25-10269) on July 4, 2025. In the petition signed by Vassil Bayraktarov, authorized representative of the Debtor, the Debtor disclosed up to $50 million in both assets and liabilities. Judge Donald R. Cassling oversees the case. Jeffrey C. Dan, Esq., at Goldstein & McClintock, LLLP, represents the Debtor as legal counsel. MI TIERRA LINDA: Steven Altmann Named Subchapter V Trustee ---------------------------------------------------------- The U.S. Bankruptcy Administrator for the Northern District of Alabama appointed Steven Altmann, Esq., at Nomberg Law Firm as Subchapter V trustee for Mi Tierra Linda Supermarket, LLC. Mr. Altmann will be paid an hourly fee of $400 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Altmann declared that he does not have an interest materially adverse to the interest of the Debtor's estate, creditors or equity security holders. The Subchapter V trustee can be reached through: The Nomberg Law Firm 3940 Montclair Rd, Suite 401 Birmingham, AL 35213 Phone: (205) 346-6023 / (205) 930-6900 steve@nomberglaw.com About Mi Tierra Linda Supermarket LLC Mi Tierra Linda Supermarket, LLC operates a grocery store in Alabama, providing Latin-American food products, fresh produce, and household goods. Mi Tierra Linda Supermarket filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. N.D. Ala. Case No. 25-03280) on October 29, 2025, listing between $1 million and $10 million in assets and between $500,001 and $1 million in liabilities. Judge Tamara O. Mitchell presides over the case. Robert C. Keller, Esq., at Russo, White & Keller represents the Debtor as legal counsel. MOUNTAIN EXPRESS: Former Execs May Pursue Defense Cost ------------------------------------------------------ Chief Judge Eduardo V. Rodriguez of the United States Bankruptcy Court for the Southern District of Texas granted the motion of Lamar Frady and Turco Wadud, former co-chief executive officers of debtor Mountain Express Oil Company and members of the debtor's board of directors, for relief from the automatic stay to permit an insurer to advance and/or reimburse defense costs and fees under directors and officers insurance policies. The insurance policy from which the Movants seek to access proceeds, through the Motion for Relief, is the AXIS Insurance Company Management Liability Policy, Policy No. P-001-000763425-01, which has a policy period of December 22, 2021 through December 22, 2022. However, at the Hearing, Movants introduced, and the Court admitted into evidence, without objection by the Trustee, the AXIS Insurance Company Management Liability Policy, Policy No. P-001-000763425-02, which is a renewal of the Policy with a policy period of December 22, 2022 through December 22, 2023. Though their Motion for Relief and post-trial briefing, Movants are seeking entry of an order authorizing, and, to the extent necessary, modifying or lifting the automatic stay under Sec. 362(a) to allow AXIS Insurance Company, under the Policies to advance and/or reimburse covered "Loss," including "Defense Costs," to any "Insured Individual" (as those terms are defined in the Policies), including Movants and Jared Sheiker, in accordance with the terms of the Policies. Movants raise two grounds for granting the Motion for Relief: (1) the estate has no interest in the proceeds of the Policies and therefore the automatic stay does not apply to the Proceeds for their Defense Costs and other Loss; and (2) even if the estate had a property interest in the Proceeds, there is cause to lift the stay pursuant to Sec. 362(d)(1). The Trustee objects to the Motion for Relief on the grounds that: (1) the Policies and Proceeds are property of the estate because Debtors are "Insured Entities" under the Policies that are entitled to coverage; and (2) there is no cause to lift the stay because lifting the stay would diminish the estate's interest in the Proceeds. At the conclusion of a hearing conducted on September 24, 2025 on the motion for stay relief, the Court ordered briefing on two issues: (i) does the bankruptcy estate in this case have an interest in the proceeds under the AXIS Insurance Company Management Liability Policy, which provides that the insurer shall pay "Loss"; and (ii) whether a certain priority of payment provision contained in the policy is enforceable in bankruptcy. The Court finds that the automatic stay is inapplicable in this matter because although the AXIS Insurance Company Management Liability Policy, Policy No. P-001-000763425-01 and Policy No. P-001-000763425-02 are property of the Debtor's bankruptcy estate, the Debtors' bankruptcy estate has no demonstrated interest in the proceeds of the AXIS Insurance Company Management Liability Policy, Policy No. P-001-000763425-01 and Policy No. P-001-000763425-02, and therefore AXIS Insurance Company is permitted to evaluate coverage and make payments under the terms of the AXIS Insurance Company Management Liability Policy, Policy No. P-001-000763425-01 and Policy No. P-001-000763425-02 to or for the benefit of Mr. Frady and Mr. Wadud. A copy of the Court's Memorandum Opinion dated October 29, 2025, is available at https://urlcurt.com/u?l=mBXIcN from PacerMonitor.com. About Mountain Express Oil Company Mountain Express Oil Company and its affiliates operated in the fuel distribution and retail convenience industry. As one of the largest fuel distributors in the American South, MEX and its affiliates at one time served 828 fueling centers and 27 travel centers across 27 states. The Debtors sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Texas Lead Case No. 23-90147) on March 18, 2023. In the petition signed by Michael Healy, as chief restructuring officer, the Debtor disclosed up to $500 million in assets and liabilities. Judge David R. Jones initially presided over the jointly administered cases. They were later reassigned to Judge Eduardo V. Rodriguez. Pachulski Stang Ziehl & Jones LLP represented the Debtor as legal counsel. The Debtors also tapped FTI Consulting, Inc. as financial advisor, Raymond James Financial, Inc. as investment banker, and Kurtzman Carson Consultants LLC as claims, noticing, and solicitation agent and administrative advisor. The cases were converted to Chapter 7 proceedings in August 2023. MZS PROPERTIES: Court Extends Cash Collateral Access to Nov. 26 --------------------------------------------------------------- MZS Properties, LLC received another extension from the U.S. Bankruptcy Court for the Northern District of Illinois, Eastern Division, to use cash collateral. The Debtor was authorized to use cash collateral until November 26 under the terms set by the bankruptcy court in its prior orders. A status hearing is scheduled for November 25. The Debtor's principal asset is real estate in Chicago, Ill., secured by a mortgage in which the initial lender was Sharestates Investments, DACL LLC. The lender holds a first priority lien on the property in the initial amount of $113,000. Sharestates claims it is owed $226,211 as of the petition date. Rents collected from the property are the sole source of revenue of the Debtor. The value of the property is scheduled at $325,000. About MZS Properties MZS Properties, LLC filed Chapter 11 petition (Bankr. N.D. Ill. Case No. 25-01523) on January 31, 2025, listing up to $500,000 in both assets and liabilities. Mouzma Syed, manager of MZS Properties, signed the petition. Judge Jacqueline Cox oversees the case. Bradley Foreman, Esq., at the Law Offices of Bradley H. Foreman, P.C., is the Debtor's bankruptcy counsel. Sharestates Investments, DACL LLC, as lender, is represented by: Timothy R. Yueill, Esq. Law Offices of Ira T. Nevel, LLC 175 N. Franklin St., Ste. 201 Chicago, IL 60606 Telephone: 312-357-1125 TimothyY@nevellaw.com NANOVIBRONIX INC: Four Directors to Retire ------------------------------------------ NanoVibronix, Inc. disclosed in a Form 8-K Report filed with the U.S. Securities and Exchange Commission that on October 30, 2025, each of Christopher Fashek, Thomas Mika, Martin Goldstein, M.D. and Brian Murphy advised the Board of Directors that they do not intend to stand for reelection and would retire from the Board and all committees thereto, effective immediately prior to the 2025 Annual Meeting of Stockholders. As of the October 30, Christopher Fashek is a member of the Audit Committee, Nominating and Corporate Governance Committee and the Compensation Committee, Thomas Mika is a member of the Audit Committee and the Compensation Committee, and Dr. Goldstein is a member of the Nominating and Corporate Governance Committee. Each of Messrs. Fashek, Mika, Goldstein and Murphy's decision not to stand for reelection as directors of the Board was solely for personal reasons and did not arise or result from any disagreement with the Company on any matters relating to the Company's operations, policies or practices. About NanoVibronix Elmsford, N.Y.-based NanoVibronix, Inc., a Delaware corporation, commenced operations on October 20, 2003, and is a medical device company focusing on noninvasive biological response-activating devices that target wound healing and pain therapy and can be administered at home without the assistance of medical professionals. Southfield, Mich.-based Zwick CPA, PLLC, the Company's auditor since 2023, issued a "going concern" qualification in its report dated Mar. 31, 2025, attached to the Company's Annual Report on Form 10-K for the year ended Dec. 31, 2024, citing that the Company has suffered recurring losses from operations and needs to raise additional funds to meet its obligations and sustain its operations. These conditions raise substantial doubt about its ability to continue as a going concern. As of Dec. 31, 2024, NanoVibronix had $3.6 million in total assets, $3 million in total liabilities, and $627 thousand in total stockholders' equity. As of Jun. 30, 2024, it had $51.5 million in total assets, $11 million in total liabilities, and $40.5 million in total stockholders' equity. NEAR INTELLIGENCE: Suit Blames Auditor's Negligence for Losses -------------------------------------------------------------- Vince Sullivan of Law360 Bankruptcy Authority reports that the plan administrator for Near Intelligence Inc. has brought a negligence suit in Delaware bankruptcy court against the company's former auditor, accusing it of missing a years long billing scheme tied to Near's largest client. The complaint asserts that the firm's unqualified opinions masked fraudulent transactions and gave false assurance of the company's financial stability. As stated in court documents, the auditor's lapses allowed the misconduct to continue unchecked, ultimately leading to Near's insolvency. The administrator is pursuing damages to recoup losses for creditors, arguing the firm's failures were instrumental in the company's collapse. About Near Intelligence Near Intelligence Inc. -- https://www.near.com -- publicly traded software firm that provides data insights to major companies including Wendy's Co. and Ford Motor Co. Near is a global, privacy-led data intelligence platform curates one of the world's largest sources of intelligence on people and places. Near's patented technology analyzes data to deliver insights on approximately 1.6 billion unique user IDs across 70 million points of interest in more than 44 countries. With a presence in Pasadena, San Francisco, Paris, Bangalore, Singapore, Sydney, and Tokyo, Near serves enterprises in a diverse spectrum of industries including retail, real estate, restaurant, travel/tourism, telecom, media, and more. Near Intelligence Inc. and its affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Lead Case No. 23-11962) on Dec. 8, 2023. In the petition filed by CFO John Faieta, the Debtor estimated assets between $50 million and $100 million and liabilities between $100 million and $500 million. Near is represented by Willkie Farr & Gallagher LLP and Young Conway Stargatt & Taylor, LLP, as counsel, Ernst & Young LLP as restructuring advisor and GLC Advisors & Co., LLC, as restructuring investment banker. Kroll is the claims agent. Blue Torch, as DIP Agent and Lender, is represented by MORRIS, NICHOLS, ARSHT & TUNNELL LLP (Robert J. Dehney, Matthew Harvey, Brenna Dolphin); and KING & SPALDING LLP (Geoffrey M. King, Roger G. Schwartz, Miguel Cadavid). NOBLE LIFE: Wins OK to Use Cash Collateral Until Dec. 31 -------------------------------------------------------- Noble Life Sciences Inc. received third interim approval from the U.S. Bankruptcy Court for the District of Maryland to use cash collateral. The third interim order authorized the Debtor to use cash collateral until December 31 in accordance with its budget, subject to a 10% variance. The Debtor projects total operational expenses of $508,366 for November and $551,699 for December. Fulton Bank, a secured creditor, will be granted a security interest of the same priority and to the same extent of the Debtor's use of such cash collateral. The security interest is automatically perfected and survives conversion of the Debtor's Chapter 11 case to one under Chapter 7. As additional protection, Fulton Bank will receive payments of $15,000 on November 15 and December 15. Pursuant to the court's August 21 order, Noble Life Sciences' president has been using his personal credit cards for company purchases. This authorization has been extended until the earlier of (i) December 31 or (ii) the Debtor's ability to obtain a debit card from its DIP bank or ACH services from a lending institution. The next hearing is scheduled for December 18. About Noble Life Sciences Inc. Noble Life Sciences, Inc. is a pre-clinical contract research organization that provides GLP and non-GLP services, including safety and efficacy testing, for drugs, vaccines, and medical devices. It offers capabilities in pharmacology, bioanalysis, analytical testing, and preclinical development across a range of therapeutic areas such as oncology, infectious diseases, and cardiovascular conditions. Noble Life Sciences sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Md. Case No. 25-15637) on June 22, 2025. In its petition, the Debtor reported total assets of $488,456 and total liabilities of $5,160,511. Robert B. Scarlett, Esq., at Scarlett & Croll, P.A. is the Debtor's legal counsel. Fulton Bank is represented by: Michael D. Nord, Esq. Gebhardt & Smith, LLP One South Street, Suite 2200 Baltimore, MD 21202 Tel: (410) 385-5072 mnord@gebsmith.com NOISA INC.: Seeks to Employ Calaiaro Valencik as Counsel -------------------------------------------------------- Noisa, Inc., Isano, Inc., and Isano 3, Inc. seek approval from the U.S. Bankruptcy Court for the Western District of Pennsylvania to employ Calaiaro Valencik to serve as counsel in their Chapter 11 Subchapter V cases. Calaiaro Valencik will provide these services: (a) preparation of the bankruptcy petitions and attendance at the Initial Debtors' Interview and 341 Meeting of Creditors; (b) representation of the Debtors in relation to negotiating an agreement on cash collateral; (c) representation of the Debtors in relation to acceptance or rejection of executory contracts; (d) advising the Debtors with regard to their rights and obligations during the Chapter 11 case; (e) representation of the Debtors in relation to any motions to convert or dismiss this Chapter 11; (f) representation of the Debtors in relation to any motions for relief from stay filed by any creditors; (g) preparation of the Chapter 11 Plan including attending confirmation hearings; (h) preparation of any objection to claims in the Chapter 11; and (i) otherwise representing the Debtors in general. According to court filings, Calaiaro Valencik will bill its services at hourly rates of $475 for Donald R. Calaiaro, $395 for David Z. Valencik, $335 for Andrew K. Pratt, $350 for Daniel R. White, and $125 for paralegals. The firm received a total prepetition retainer of $35,000 and has $26,135.50 remaining in its IOLTA account, to be held pending court order. Calaiaro Valencik is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code, according to court filings. The firm can be reached at: David Z. Valencik, Esq. Andrew K. Pratt, Esq. CALAIARO VALENCIK 555 Grant Street, Suite 300 Pittsburgh, PA 15219 Telephone: (412) 232-0930 Facsimile: (412) 232-3858 E-mail: dvalencik@c-vlaw.com apratt@c-vlaw.com About Noisa Inc Noisa, Inc., doing business as Las Velas Mexican Restaurant, operates a full-service Mexican dining establishment, offering a range of traditional dishes and catering services in Pennsylvania. Its affiliate, Isano Inc., runs a Mexican restaurant in Murrysville, featuring tacos, burritos, enchiladas, and other regional fare. Meanwhile, Isano 3, Inc., doing business as La Cantina by Madero, manages a restaurant concept that combines Mexican staples with American casual items such as wings and burgers, operating as part of the same broader restaurant group in the state. Noisa and its affiliates filed Chapter 11 petitions (Bankr. W.D. Pa. Lead Case No. 25-22682) on October 6, 2025. In the petition signed by David Montanez, company owner, Noisa disclosed up to $500,000 in assets and up to $1 million in liabilities. Judge Carlota M. Bohm oversees the cases. David Z. Valencik, Esq., at Calaiaro Valencik, represents the Debtors as legal counsel. NORCOLD LLC: To Sell Refrigeration Products Biz at Auction ---------------------------------------------------------- Norcold LLC seeks permission from the U.S. Bankruptcy Court for the District of Delaware to sell substantially all Assets, free and clear of liens, claims, interests, and encumbrances. The Debtor manufactures and distributes refrigeration products for mobile applications, including recreational vehicles and marine vessels. The Debtor and its advisors analyzed and explored potential transactions, conducted comprehensive liquidity analyses, and considered potential restructuring alternatives to address the Debtor's liquidity issues before concluding that commencing a sale process was the most viable path to preserve and maximize the value of the Assets. The Debtor engaged in extensive negotiations with its primary stakeholders, and reached an agreement for David Carter & Associates (DCA) to serve as the "Stalking Horse Bidder," subject to higher or otherwise better bids received during the auction process. The proposed purchase price is $13,000,000. DCA has also agreed to provide a $13 million new money DIP facility that will provide the Debtor the necessary runway to continue its marketing efforts and ensure that the Assets are sold for the highest and best value. On October 31, 2025, the Debtor executed the Stalking Horse APA with DCA, who, in the Alternative Sale Process, will serve as the Stalking Horse Bidder in a sale process pursuant to section 363 of the Bankruptcy Code, subject to Bankruptcy Court approval. The Stalking Horse APA contemplates a credit bid for a purchase price of $13 million consisting of all outstanding obligations under the DIP facility. As part of the purchase price, DCA has also agreed to assume certain liabilities (including contract cure costs) and leave behind cash to conclude this chapter 11 case and fund a liquidating trust that will wind down the Debtor's estate post-sale. Concurrently with the solicitation of votes on the Debtor’s plan, the Debtor will conduct a marketing and sales process for the purpose of soliciting, receiving, and considering offers in connect with the sale of its Assets. If the Debtor determines there is a higher or otherwise better offer than the Stalking Horse APA, then the Debtor will seek approval of such transaction pursuant to section 363 of the Bankruptcy Code, subject to Bankruptcy Court approval. If no competing offers are received through the Alternative Sale Process, the Debtor will seek to consummate the Stalking Horse APA through the Plan, subject to Bankruptcy Court approval. The Debtor seeks the Court’s approval of bidding procedure pursuant to which it will seek overbids for the Assets through the Alternative Sale Process. The proposed sale timeline and accompanying Bidding Procedures, which is intended to run in parallel with the confirmation timeline, is the product of substantial negotiations among the Debtor and DCA. The Debtor believes that the timeline and other terms proposed herein will balance the dual goals of making sure that the Debtor can run a competitive marketing process to secure the highest or otherwise best purchase price for its Assets while also ensuring that the Debtor avoids the value destructive consequences of a protracted chapter 11 case. Together with Plan, the APA and the Bidding Procedures, provide a roadmap for the Debtor to close the Plan Sale or an Alternative Sale Transaction, confirm the Plan, and wind down the Debtor’s estate within 90 days. The transactions provide the Debtor with certainty, while also providing necessary freedom to solicit, encourage and entertain higher alternative transactions through the Alternative Sale Process -- and to terminate the Stalking Horse Bid if the Debtor’s fiduciary duties so dictate—all for the benefit of the Debtor's estate. The Debtor, under the guidance of its independent manager and other advisors, determined that pursuing the sale process described herein was the most viable path to preserve and maximize the value of its assets. In the weeks leading up to the Petition Date, the Debtor, and DCA, each of which was represented by experienced counsel and financial advisors, negotiated a DIP Term Sheet and a Stalking Horse APA, which comprises a credit bid of the DIP Facility to fund this chapter 11 case (as well as the assumption of certain liabilities) and an agreement to serve as the stalking horse bidder. In light of the Debtor's constrained liquidity and, after consultation with its financial and legal advisors, the Debtor has determined that entry into the proposed DIP Facility and Stalking Horse APA constitutes the best presently available opportunity to maximize creditor recoveries, as no third-party lender contacted was willing to extend post-petition financing on terms more favorable than those negotiated with DCA. The Debtor will solicit any higher or otherwise better proposals according to the following proposed schedule, subject to Court approval and availability: -- December 8, 2025, subject to the Court's availability: Entry of Bidding Procedures Order. -- January 15, 2026, at 4:00 p.m. (ET) Sale Objection Deadline -- January 15, 2026, at 4:00 p.m. (ET) Bid Deadline -- January 20, 2026, at 9:00 a.m. (ET) Auction (if any) -- January 22, 2026 at 4:00 p.m. (ET) Post-Auction Objection Deadline -- January 27, 2026, subject to the Court's availability Sale Hearing -- February 12, 2026 Sale Closing The Debtor believes that the timeline provides them with an opportunity to conduct a thorough marketing process for the Assets. In addition to the Debtor's transaction efforts thus far, the Debtor will utilize the time prior to and following entry of the Bidding Procedures Order to actively market the Assets to expedite the solicitation bids in advance of the Bid Deadline. The aggregate consideration for the purchase, sale, assignment and conveyance of Seller’s right, title and interest in, to and under the Acquired Assets shall consist of: (a) the assumption by Buyer of the Assumed Liabilities from Seller, including the assumption of the obligation to pay to the applicable counterparties of the applicable Assigned Contracts the Cure Costs payable by Buyer of the Stalking Horse APA. (b) the Credit Bid in an aggregate amount equal to the outstanding obligations under the DIP Term Sheet as of the Closing (which amount shall not be less than $13,000,000.00 as of the Closing), exercised by Buyer or its designee in accordance with section 363(k) of the Bankruptcy Code and the DIP Order; (c) such additional cash consideration, the use, allocation and amount of which shall be determined at the sole discretion of Buyer and by providing written notice to Sellers; provided, however, that if no such notice has been provided, then the amount of such cash consideration under this Section 3.1(a)(iv) shall be $0. The Assets are all Seller's right, title and interest in, to or under the following (other than the Excluded Assets): (i) all of Seller's properties, rights, claims and assets of every kind and description related to, associated with, pertaining to, or presently, historically or prospectively used in or held for use in the operation of the Business as conducted by Seller. To optimally and expeditiously solicit, receive, and evaluate bids in a fair and accessible manner, the Debtor has developed the proposed Bidding Procedures. The Bidding Procedures will provide potential bidders with sufficient notice and time to conduct thorough due diligence to submit binding bids in advance of the Bid Deadline. The Debtor respectfully submits that the Sale Notice is reasonably calculated to provide interested parties with notice of the Sale and the Sale Hearing and an opportunity to respond accordingly. About Norcold LLC Norcold LLC, a wholly owned subsidiary of Thetford LLC, manufactures and distributes refrigeration products for mobile applications, including recreational vehicles and marine vessels. Founded in 1959, the Company began with gas absorption refrigerators for off-grid use and later became a major supplier in the RV refrigeration market. Norcold functions as Thetford's refrigeration division within a broader portfolio that also includes RV and marine sanitation and waste management systems, and is ultimately owned by Monomoy Capital Partners IV, LP, Monomoy Capital Partners IV Parallel, LP, and Dyson Kissner Moran Corporation. Norcold sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No.: 25-11933) on November 3, 2025. In the petition signed by Richard Wu as chief restructuring officer, the Debtor discloses estimated assets of $10 million to $50 million and estimated liabilities of $100 million to $500 million. Judge: Hon. Thomas M. Horan Debtor's Bankruptcy Counsel is Sean M. Beach, Esq., at YOUNG CONAWAY STARGATT & TAYLOR, LLP, in Wilmington, Delaware. Debtor's Financial & Restructuring Advisor: ALVAREZ & MARSAL NORTH AMERICA, LLC Debtor's Notice, Claims, Solicitation & Balloting Agent: SETTO Debtor's Investment Banker: HILCO CORPORATE FINANCE, LLC NORTH JERSEY: To Sell Irvington Property to Christopher Awua ------------------------------------------------------------ North Jersey Tire, Auto and Truck Repair LLC seeks permission from the U.S. Bankruptcy Court for the District of New Jersey, to sell Property, free and clear of liens, claims, interests, and encumbrances. The Debtor's Property is located at 59–61 Western Parkway, Irvington, New Jersey 07111, designated as Block 62, Lot 22 on the official tax map of the Township of Irvington, Essex County. Jose Aguirre is the managing member of the Debtor and has acted as the managing member since the Debtor's formation. The Debtor is the owner of the Real Property real property commonly known as 59–61 Western Parkway, Irvington, New Jersey 07111, designated as Block 62, Lot 22 on the official tax map of the Township of Irvington, Essex County. The Real Property was purchased in or around July 2015. At the time that the Debtor was formed, Aguirre and Barbaro Arango contributed approximately $50,000 toward the purchase of the Property and the funds needed to set up and operate an automobile repair shop on the Property. In or around January 2016, the Debtor opened an automobile repair business. Arrango was not present at the time of the Business opening and had no connection, communication or relationship after Arrango's initial investment. As of the Petition Date, the Debtor had an agreement with Bamba Sekou, an independent auto mechanic, to lease the Property and the assets of the Debtor located in the Business, and use the location and name of the business to perform repairs. Prior to the Petition Date, the Debtor, through counsel, sought to reach an agreement with Arrango to allow the listing and sale of the Real Property and Business Assets but was not able to reach an agreement. The Debtor filed an application to employ Schumann Hanlon Margulies, LLC as its real estate counsel. On July 8, 2025, the Debtor executed a Contract of Sale and First Rider with Christopher Awuah, or his corporate assignee, C’s Auto Repair, for the sale of the Debtor’s Real Property and Business Assets. The Sale Agreement provides for a total purchase price of $650,000.00, consisting of (i) a $50,000.00 deposit, and (ii) a $600,000.00 commercial mortgage commitment to be obtained by the Purchaser. After the Purchaser completed due diligence, through negotiations, the parties agreed to adjust the total purchase price to $610,000, representing a valuation of $485,000.00 for the Property and $125,000 for the business assets. The Sale Price was based on an appraisal provided by the Purchase. The Sale Agreement includes the Real Property, improvements, fixtures, equipment, trade name, and good will, free and clear of all liens, claims, encumbrances, and other interests, with such interests to attach to the net proceeds of sale as provided by the Sale Order. The lienholders of the Property are Aryming Asset Management, LLC and property taxes. After a thorough review of the business of the Debtor, the current financial condition of the Debtor, the reasonable financial outlook of the Debtor, the Debtor, in an exercise of its sound business judgment, has determined that a sale of substantially all assets of the Debtor in the form of the Sale Agreement as proposed herein is reasonable and proper under the Bankruptcy Code, would result in the best recovery for their stakeholders, and is in the best interests of each of the Debtor, its creditors and estate. The Debtor has ample evidence that the sale of the Real Property and Sale Assets is for a sound business purpose. The Sale will generate sufficient proceeds to satisfy all secured claims, including the statutory redemption amount required to satisfy Aryming, as well as other liens and encumbrances of record. After payment of creditors, the Sale will also permit a distribution to equity holders, maximizing recovery consistent with the Debtor’s fiduciary duties. About North Jersey Tire Auto and Truck Repair North Jersey Tire, Auto and Truck Repair, LLC was formed in or around 2015 to operate an automotive repair business in Irvington, New Jersey. The Debtor sought protection for relief under Chapter 11 of the Bankruptcy Code (Bankr. D.N.J. Case No. 25-12719) on March 17, 2025, listing $500,001 to $1 million in assets and $100,001 to $500,000 in liabilities. Judge Michael B Kaplan presides over the case. Justin M Gillman, Esq. at Gillman Capone LLC, is the Debtor's counsel. OFFICE PROPERTIES: S&P Downgrades ICR to 'D' on Bankruptcy Filing ----------------------------------------------------------------- S&P Global Ratings lowered its issuer credit rating on Office Properties Income Trust (OPI) to 'D' from 'SD' (selective default). At the same time, S&P lowered its issue-level ratings on OPI's debt, excluding the debt it already rates 'D' due to missed interest payments, to 'D'. The downgrade reflects OPI's bankruptcy filing. Due to ongoing refinancing and liquidity pressure stemming from its declining operating performance, OPI announced that it entered into a Restructuring Support Agreement (RSA) with certain holders of its senior secured notes due September 2029. To implement the RSA, the company filed for Chapter 11 bankruptcy protection. OPI has received a commitment for $125 million of debtor-in possession financing to support its ongoing operations and liquidity as it works through the bankruptcy proceedings. In addition, the RMR Group will continue to manage the company. S&P expects that all of OPI's operations, including its leasing and property maintenance, will be uninterrupted by the bankruptcy process. ONDAS HOLDINGS: Acquires Controlling Stake in 4M Defense -------------------------------------------------------- Ondas Holdings Inc. disclosed in a Form 8-K Report filed with the U.S. Securities and Exchange Commission that it has completed the previously announced acquisition of a controlling interest in 4M Defense Ltd., a company registered in the State of Israel, pursuant to the Share Purchase Agreement, dated October 24, 2025, by and among the Company, 4M, Chirokka Holding Ltd., a company registered in the State of Israel, Mr. Itzik Malka, and Mr. Nir Cohen. HoldCo held 100% of the share capital of 4M. In accordance with the terms of the Agreement, the Company acquired 70% of the issued and outstanding share capital of HoldCo, for a purchase price of: (i) $2,400,000 in cash; and (ii) 801,068 shares of the Company's common stock, par value $0.0001 per share, in exchange for the HoldCo Shares. Pursuant to the Agreement, Itzik has agreed, subject to certain customary exceptions, not to sell, transfer or dispose of 480,641 shares of Common Stock for a period of 12 months after the closing of the Acquisition, at which time Itzik shall be permitted to sell, transfer or otherwise dispose of, on a calendar quarterly basis, up to 12.5% of such shares of Common Stock, until all such shares have been released from the lock-up restrictions. Also on October 29, 2025, the Company entered into a Registration Rights Agreement with the Shareholders to register the resale of the Shares. A full-text copy of the Agreement and the Registration Rights Agreement, is available at https://tinyurl.com/28mm9522 and https://tinyurl.com/4eh6scvm, respectively. A copy of the opinion of Snell & Wilmer L.L.P. relating to the legality of the issuance of the Shares is available at https://tinyurl.com/5ar5pzan About Ondas Holdings Marlborough, Mass.-based Ondas Holdings Inc. (Nasdaq: ONDS) provides private wireless data solutions through its subsidiary, Ondas Networks Inc., and commercial drone solutions through Ondas Autonomous Systems Inc. (OAS), which includes wholly owned subsidiaries American Robotics, Inc. and Airobotics LTD. OAS focuses on the design, development, and marketing of autonomous drone solutions, while Ondas Networks specializes in proprietary, software-based wireless broadband technology for both established and emerging commercial and government markets. Together, Ondas Networks, American Robotics, and Airobotics deliver enhanced connectivity, situational awareness, and data collection capabilities to users in defense, homeland security, public safety, and other critical industrial and government sectors. In an audit report dated March 12, 2025, the Company's auditor, Rosenberg Rich Baker Berman, P.A., issued a "going concern" qualification, citing that the Company has experienced recurring losses from operations, negative cash flows from operations and a working capital deficit as of Dec. 31, 2024. As of Dec. 31, 2024, Ondas Holdings had $109.62 million in total assets, $73.68 million in total liabilities, and $16.58 million in total stockholders' equity. As of June 30, 2025, the Company had $151.95 million in total assets, $39.29 million in total liabilities, and $90.82 million in total stockholders' equity. ORION PORTFOLIO: Seeks 120-Day Extension of Plan Filing Deadline ---------------------------------------------------------------- Orion Portfolio Management, LLC, asked the U.S. Bankruptcy Court for the Western District of Pennsylvania to extend its exclusivity periods to file a plan of reorganization for additional one-hundred twenty days. The Debtor initiated this Chapter 11 case to restructure secured mortgage debts. The Debtor's obligations consist mostly of secured debts on real property. The Debtor explains that it intends to sell its real estate, and is working to ensure tenants are fully moved out, and also making renovations which make the property more marketable. Debtor is currently looking to engage the services of a real estate broker. Moreover, under Section 1121(b), a party filing for Chapter 11 has one-hundred twenty days from the order for relief to exclusively file a plan for reorganization, after that, creditors or other parties in interest may file their own proposed plans. This 120-day period was the period initially granted to the Debtors by the Court to file its Plan. Orion Portfolio Management LLC is represented by: Brian C. Thompson, Esq. THOMPSON LAW GROUP, P.C. 301 Smith Drive, Suite 6 Cranberry Township, PA 16066 Telephone: (724) 799-8404 Facsimile: (724) 799-8409 E-mail: bthompson@thompsonattorney.com About Orion Portfolio Management Orion Portfolio Management LLC is a single asset real estate company that owns and manages property at 714-714 Armandale Street in Pittsburgh, Pennsylvania. Orion Portfolio Management sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Pa. Case No. 25-21767) on July 3, 2025. In its petition, the Debtor estimated assets and liabilities between $500,000 and $1 million. The Debtors are represented by Brian C. Thompson, Esq. at Thompson Law Group, PC. OWL VENICE: Unsecured Creditors Will Get 1% over 60 Months ---------------------------------------------------------- OWL Venice LLC filed with the U.S. Bankruptcy Court for the Central District of California a Plan of Reorganization for Small Business dated October 27, 2025. The Debtor is operating in the ordinary course of business as permitted by Bankruptcy Law. OWL Venice is a wellness brand specializing in gut health products. Like many businesses, it was hit hard by high-interest debt and rising costs. The Debtor relies on selling its products online. One of its creditors, however, Settle Inc. through its agent, Alien Finance, notified Shopify to put a hold on the Debtor's funds on Settle Inc. 's behalf. This caused the Debtor's cashflow to be reduced and put it in a situation that would not allow it to operate long unless it was able to sell and collect through Shopify. Despite efforts to negotiate with Settle Inc. and Alien Finance without having to file for bankruptcy protection, the Debtor simply could not continue to operate with such constraints and had to file this case to restructure its debts as the creditor refused to release the hold on the Debtor's funds until the Debtor filed for bankruptcy relief and its counsel demanded the release. The funds were released four days after the Bankruptcy petition was filed, which bolstered the Debtor's reorganization prospects, but also made clear the Debtor's legal claims against unsecured Settle Inc. and Alien Finance in having the Debtor's funds frozen without any authority, whether from a Court of law or non-existent contractual security agreement. The Debtor allegedly has a total of approximately $163,281.00 in secured claims, $0 in priority claims, and $707,766.27 in general unsecured claims, all subject to review during the claim objection process. The Plan Proponent's financial projections show that the Debtor will have Projected Disposable Income of three years of approximately $204,012. This Plan of Reorganization proposes to pay creditors of the Debtor from cashflow from operations. Non-priority unsecured creditors holding allowed claims will receive distributions, which the proponent of this Plan has valued at approximately $89,000. This Plan also provides for the payment of administrative and priority claims. Class 4 consists of Non-priority unsecured creditors. An aggregate $89,000 to all claimholders over 60 months due and payable every 3 months, who shall receive 1%. This amount may increase as required by law or decrease due to feasibility pursuant to order of the Court. This Class is impaired. Class 5 consists of Convenience Class of Non-priority unsecured creditors. Paid in full on Effective Date. This Class is impaired. Class 6 consists of the interests of the holders of equity in property of the estate. All of the Debtor's equity interests shall vest in the Debtor's members as of the Petition Date in the same percentage they held as of that time. The Plan will be funded by the Debtor's disposable income from business earnings. The Debtor shall make the Plan Payments and all other payments contemplated under the Plan. It is estimated that under the Plan, the Debtor will be required to pay approximately $5,666.22 on the Effective Date. Based on the Projections, the Debtor expects that it will have approximately $60,000 in cash, which is sufficient to make the Plan Payments required to be made on the Effective Date. A full-text copy of the Plan of Reorganization dated October 27, 2025 is available at https://urlcurt.com/u?l=omhIn7 from PacerMonitor.com at no charge. The Debtor's Counsel: Giovanni Orantes, Esq. THE ORANTES LAW FIRM, A.P.C. 3435 Wilshire Blvd., 27th Floor Los Angeles, CA 90010 Tel: (888) 619-8222 Fax: (877) 789-5776 E-mail: go@gobklaw.com About OWL Venice LLC OWL Venice LLC, doing business as OWL Venice, offers handcrafted broth elixirs, organic skincare products, and multi-day gut health cleanse programs across Los Angeles County. It also provides health coaching as an additional wellness service. OWL Venice sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Calif. Case No. 25-16451) on July 29, 2025. In its petition, the Debtor reported up to $50,000 in assets and between $1 million and $10 million in liabilities. Honorable Bankruptcy Judge Sheri Bluebond handles the case. The Debtor is represented by Giovanni Orantes, Esq., at The Orantes Law Firm, A.P.C. PERASO INC: Has NDA with Mobix, Strategic Review Ongoing -------------------------------------------------------- Peraso Inc. disclosed in a Form 8-K Report filed with the U.S. Securities and Exchange Commission that on October 30, 2025, the Company entered into a mutual confidentiality agreement with Mobix Labs, Inc. in connection with the Company's ongoing review of strategic alternatives. The confidentiality agreement contains customary terms, including mutual 12-month standstill and non-solicitation provisions. About Peraso Inc. Headquartered in San Jose, California, Peraso Inc. -- https://www.perasoinc.com -- is a pioneer in high-performance 60 GHz unlicensed and 5G mmWave wireless technology, offering chipsets, antenna modules, software and IP. Peraso supports a variety of applications, including fixed wireless access, immersive video and factory automation. In addition, Peraso's solutions for data and telecom networks focus on Accelerating Data Intelligence and Multi-Access Edge Computing, providing end-to-end solutions from the edge to the centralized core and into the cloud. In its report dated March 28, 2025, the Company's auditor, Weinberg & Company, issued a "going concern" qualification, attached to the Company's Annual Report on Form 10-K for the year ended Dec. 31, 2024, citing that during the year ended Dec. 31, 2024, the Company incurred a net loss and utilized cash in operations. These conditions raise substantial doubt about the Company's ability to continue as a going concern. As of June 30, 2025, the Company had $5.53 million in total assets against $3.74 million in total liabilities. PET HOTELS: Court OKs Corozal Property Sale to Millenium Records ---------------------------------------------------------------- The U.S. Bankruptcy Court for the District of Puerto Rico has granted Pet Hotels LLC to sell commercial property, free and clear of liens, claims, interests, and encumbrances. The Debtor's Property that is up for sale is located at Corozal, Puerto Rico, which has an appraisal value of $217,000.00. The Debtor, is a Wyoming limited liability company, authorized to do business in Puerto Rico, with principal ownership held by Russell Magnus von Zolp IV. The Court has authorized the Debtor to sell the Property to Millenium Records LLC, a Wyoming limited liability company, authorized to do business in Puerto Rico, with principal ownership held by Rosario Bello. The Debtor has provided timely supplements the motion with the title search report, parties in interest are granted until November 10, 2025, to file any objection to the proposed sale. About Pet Hotels LLC Pet Hotels LLC filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. D.P.R. Case No. 25-02627) on June 10, 2025. At the time of filing, the Debtor estimated $1,000,001 to $10 million in both assets and liabilities. Judge Maria De Los Angeles Gonzalez presides over the case. Robert Millan, Esq., at Millan Law Offices serves as the Debtor's bankruptcy counsel. PHB 2023: To Sell Highlands County Property to Brand Land --------------------------------------------------------- PHB 2023 LLC seeks approval from the U.S. Bankruptcy Court for the Northern District of Alabama, Southern Division, to sell Property, free and clear of liens, claims, interests, and encumbrances. The Debtor proposes to sell all of the estate’s right, title, and interest in the real property. The Debtor proposes to sell all of the estate’s interest, free and clear of any and all mortgages, liens, interests and/or other encumbrances, excepting that CF Encore Purchaser LLC’s lien rights specifically and fully attach to all proceeds of the Sale, other than those specifically set aside for administrative expenses of the Estate. Debtor proposes to sell its interest in certain real estate consisting of 20 partially completed residential homes in the community known as Sebring Highlands, in the municipality of Sebring, Highlands County, Florida. The proposed sale will be by private sale and the total purchase price of the WIP Assets is $2,475,000.00. The Debtor enters into a Contract with Brand Land, LLC, a Florida limited liability company (Purchaser), to purchase the WIP Assets. The Debtor sets forth that the total sales price for the WIP Assets represents the fair market value of the WIP Assets. The Purchaser has already obtained or will obtain financing, and the sales are contemplated to be closed forthwith after approval from the Court. The WIP Assets will be purchased at closing on or before the later of (i) December 15, 2025, and (ii) the 14th day following the entry of this Court’s final order approving the Sale. The satisfaction of any of the five requirements of Section 363(f) will suffice to permit the sale of assets free and clear of all liens. About PHB 2023 LLC PHB 2023 LLC is part of the residential building construction industry. PHB 2023 LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ala. Case No. 24-03678) on December 5, 2024. In the petition filed by Misty M. Glass, as manager, the Debtor reports total assets of $16,265,505 and total liabilities of $16,265,517. Honorable Bankruptcy Judge Tamara O. Mitchell handles the case. Stephen P. Leara, Esq., at SPAIN & GILLON, LLC represents as the legal counsel of the Debtor. PREPAID WIRELESS: T-Mobile Wins Bid to Seal Motion in Limine ------------------------------------------------------------ Judge Maria Ellena Chavez-Ruark of the United States Bankruptcy Court for the District of Maryland granted the motion of T-Mobile USA, Inc. to seal its Amended Motion in Limine To Exclude Certain Purported Expert Opinions and Testimony of Joshua Nahas and its exhibits, pursuant to section 107 of the Bankruptcy Code and Bankruptcy Rule 9018. T-Mobile is Prepaid Wireless Group, LLC's sole secured creditor and has a lien on all of the Debtor’s assets. The Motion in Limine and its exhibits contain confidential information as defined by both the contract between T-Mobile and the Debtor and the Protective Order in force in this matter. Accordingly, T-Mobile requests entry of an order restricting public access to the Motion in Limine. The Court finds that adequate notice has been given and that cause exists to grant the relief requested in the motion. A copy of the Court's Order dated October 28, 2025, is available at https://urlcurt.com/u?l=eA6lj5 from PacerMonitor.com. A copy of the Motion dated October 24, 2025, is available at https://urlcurt.com/u?l=L3ajYZ from PacerMonitor.com. In a separate decision, Judge Chavez-Ruark granted the motion of T-Mobile to seal its Motion in Limine to Exclude the Expert Opinions and Testimony of Romeo A. Reyes and its exhibits, pursuant to section 107 of the Bankruptcy Code and Bankruptcy Rule 9018. The Motion in Limine and its exhibits contain confidential information as defined by both the contract between T-Mobile and the Debtor and the Protective Order in force in this matter. Accordingly, T-Mobile requests entry of an order restricting public access to the Motion in Limine and its exhibits. A copy of the Court's Order dated October 28, 2025, is available at https://urlcurt.com/u?l=twBCVp from PacerMonitor.com. A copy of the Motion dated October 25, 2025, is available at https://urlcurt.com/u?l=ZkXynk from PacerMonitor.com. About Prepaid Wireless Group, LLC Prepaid Wireless Group, LLC is a provider of wireless telecommunications services in Rockville, Md. Prepaid Wireless Group sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Md. Case No. 24-18852) on October 21, 2024, with $10 million to $50 million in both assets and liabilities. Paul Greene, chief executive officer, signed the petition. Judge Maria Ellena Chavez-Ruark oversees the case. The Debtor is represented by: Irving Edward Walker, Esq. Cole Schotz P.C. Tel: (410) 230-0660 Email: iwalker@coleschotz.com PRISM BIDCO: S&P Assigns 'B-' Issuer Credit Rating, Outlook Stable ------------------------------------------------------------------ S&P Global Ratings assigned its 'B-' issuer credit rating to U.S. based pharmaceutical and consumer health advertising company, Prism Bidco Inc. (doing business as PatientPoint Health Technologies LLC) based on its expectations for S&P Global Ratings-adjusted leverage of 5.9x, improving to 5.1x in 2026, and free operating cash flow (FOCF) to debt of about 4% over the next two years. In addition, S&P assigned its 'B-' issue-level and '3' recovery ratings to the company's senior secured loan and revolving facility. The stable outlook reflects S&P's expectations that PatientPoint's leading position in a fragmented point-of-care (POC) health care advertising market and expansive network assets will sustain revenue and earnings growth in 2025 and 2026, but high capital expenditure (capex) and operational investments will limit FOCF generation. PatientPoint's FOCF will face pressure from its extensive network asset base, which will require consistent investment to grow and maintain. The company sells advertising time against the continuous educational content it streams on specialized digital monitors used in health care and medical facilities. It installs all its platform's underlying hardware--such as the TVs and tablets--and owns the network, comprised of 150,000 displays strategically placed in 31,000 physician offices. As a result, the company has persistently elevated capex requirements to maintain, upgrade, and grow its network infrastructure, comprising about 18% of revenue in 2024. S&P said, "Our forecast assumes this will decline to about 15% in 2025 and to 11%-12% thereafter due to improving operating leverage. This represents higher capital intensity than its peers in the advertising market. The company incurs upfront recruitment costs and capex when it enters a new location, providing its products and services free to medical professionals and generating revenue through sponsor ad-buying. That said, we believe this network represents a competitive differentiator as pharmaceutical advertisers favor the specialized patient engagement capabilities it provides relative to mass advertising." Revenues are concentrated, derived primarily from pharmaceutical and consumer health companies in a niche POC advertising market. The company develops and distributes digital educational and promotional content to physicians and medical systems, primarily delivering it over devices to improve patient engagement at health care facilities. Almost all its revenue comes from the sale of digital advertising space on these specialized displays in physician offices and hospitals, and in 2024, 12% of its revenue was attributed to its largest brand. The company's less diversified customer base makes it highly dependent upon the favorable business, financial, and economic conditions among its clients, chiefly drug-manufacturers, which themselves have distinct marketing budget processes and are subject to regulatory headwinds with respect to approvals and patent-timelines. Any broader challenges in the health care market impacting pharmaceutical ad spending and patient-engagement behaviors could pressure margins and cash flow. It also increases the risk that returns on its high levels of capex and investment could be insufficient to offset both the sunk costs associated with growth and ongoing maintenance of the network. Additionally, the Trump administration has proposed measures that could limit or prohibit pharmaceutical brands' direct-to-consumer advertising efforts, ranging from increased disclosure requirements to full bans. S&P believes this regulatory uncertainty could have an outsized effect on the company relative to the broader advertising market. S&P said, "We believe Media Rating Council (MRC) accreditation supports higher retention and better customer relationships. The company has obtained accreditation from the MRC, a self-regulatory body that audits digital advertising performance. We believe this provides clients with more assurance in the company's pricing and quality, which supports its margin profile and net revenue retention." The ability to drive sustainably higher margins will depend not just on the company's ability to strategically target practices providing high returns to marketing spending, but also to demonstrate that value proposition with measurable outcomes and relevant audience conversion metrics. Renewal rates on its annual contracts are determined in part by the success of previous campaigns, with third-party validation providing clients with more confidence as to the fidelity of the metrics and measurements underpinning pricing increases. This transaction will elevate leverage and weaken FOCF metrics, with further financial policy risk inherent in its private equity sponsorship. S&P said, "Pro forma for the transaction, we expect year-end 2025 S&P Global Ratings-adjusted debt to EBITDA to be 5.9x, improving to 5.1x in 2026. Our base-case forecast assumes revenue will increase about 8% in 2025, reflecting strong growth for the first half of the year due to the expansion of its network and higher penetration of the pharmaceutical advertising market that will support this through the end of the year. We expect the elimination of one-time noncash expenses coupled with better operating leverage to improve adjusted EBITDA margin to 36.7% in 2025 from about 33.4% in 2024. Thereafter, we expect ongoing operational investments in technology, sales, and marketing to partially offset growing revenues, with our forecast assuming only modest annual expansion of about 10 to 30 basis points (bps) a year." Rising EBTIDA and revenue notwithstanding, higher interest payments and ongoing capex requirements will erode FOCF and overall credit metrics relative to prior years. S&P said, "We expect 2025 and 2026 FOCF to debt of about 4%, supporting our 'B-' rating, to reflect these factors, with increasing investments in the network sustaining these pressures. Additionally, given the company's private-equity ownership, we believe there is a risk of increasing leverage again over time, as owners may prioritize shareholder returns. In particular, we believe considerable industry fragmentation could drive acquisitions." S&P said, "The stable outlook reflects our expectations that PatientPoint's leading position in a fragmented POC health care advertising market and expansive network assets will sustain revenue and earnings growth in 2025 and 2026, but high capex and operational investments will limit FOCF generation. "We could lower our rating on PatientPoint if pharma demand weakens and advertising revenue streams are unable to support the upfront costs and investments associated with growing locations and installing new networked devices. This could ultimately pressure the company's liquidity position and cause us to assess its capital structure as unsustainable over the longer term. "We could raise our rating on PatientPoint if it sustains S&P Global Ratings-adjusted debt to EBITDA below 5.5x, while also achieving consistent FOCF to debt of above 5%." PRND3L INC: Available Cash & Business Operation to Fund Plan ------------------------------------------------------------ PRND3L Inc. filed with the U.S. Bankruptcy Court for the District of Massachusetts a Plan of Reorganization dated October 27, 2025. The Debtor is a Massachusetts corporation formed by Ed and Amy Boulter (the "Boulters") to operate a My Salon Suites franchise in Westborough, Massachusetts. As a franchise owner, the Debtor leases fully equipped private suites to independent beauty professionals, who operate their own personal care business within the space. The Debtor's role is limited to suite ownership, lease management and maintaining the space in accordance with the terms of the franchise agreement. The poor performance in Leominster resulted in Bay State Suites, Inc. defaulting on its loan obligations to First Internet Bank of Indiana (the "Bank"), which is also the lender to the Debtor. With the Leominster location performing so poorly and the likelihood that its operations could not be sustained for much longer, the Debtor commenced these proceedings to preserve the franchise and to protect against collection efforts by the Bank arising from defaults under the loan agreement with Bay State Suites. The Debtor is current in all its obligations to its creditors. The Plan provides that it will continue to make payment to all creditors in the ordinary course of business as payments become due. As a result, all creditors are unimpaired. Class 3 consists of All non-priority unsecured claims. All creditors other than those described in Sections III and IV and those holders of claims in Class 1 and Class 2 shall be paid in the ordinary course of business in accordance with the terms established between the parties. All arrears, if any, shall be paid in full on the Effective Date. The equity holders shall retain their interests in the Debtor. All payments under the Plan shall be made from the Debtor's available cash and from cash flow generated in the ordinary course of its business. The Debtor does not believe that it is in arrears to any creditor and that all payments will be made to creditors in the ordinary course of business as required by the agreements and/or course of dealing with the creditors. The Debtor believes that the only administrative and priority claims that will need to be paid are the fees of its attorneys, which are estimated to be no more than $25,000 beyond counsel's retainer balance. The Debtor currently has approximately $112,000 in cash on hand. Attached hereto is a 12-month projection of the Debtor's cash flow, showing the ability to make continuing payments to creditors. A full-text copy of the Plan of Reorganization dated October 27, 2025 is available at https://urlcurt.com/u?l=SHDH3r from PacerMonitor.com at no charge. Counsel to the Debtor: Joseph S.U. Bodoff, Esq. Rion M. Vaughan, Esq. Rubin and Rudman LLP 53 State Street Boston, MA 02109 Tel: 617-330-7000 About PRND3L Inc. PRND3L Inc., operating as MY SALON Suite of Westborough, operates a salon suite rental facility at 153 Turnpike Rd. in Westborough, Mass., where beauty professionals can lease private, fully equipped salon suites to run their independent businesses. PRND3L Inc. sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Mass. Case No. 25-40801) on July 29, 2025. In its petition, the Debtor reported estimated assets between $500,000 and $1 million and liabilities between $100,000 and $500,000. The Honorable Bankruptcy Judge Elizabeth D. Katz handles the case. The Debtor is represented by Joseph S.U. Bodoff, Esq. and Rion Vaughan, Esq., at Rubin and Rudman LLP. PROFESSIONAL DIVERSITY: Secures $1M Release from $20M Equity Line ----------------------------------------------------------------- On September 5, 2025, Professional Diversity Network, Inc. entered into a Securities Purchase Agreement with Streeterville Capital, LLC, a Utah limited liability company, pursuant to which the Company agreed to issue and sell to the Investor shares of its common stock, par value $0.01 per share, in one or more pre-paid advance purchases for an aggregate purchase price of up to $20,000,000 for a period of two years from September 5, 2025. On October 30, 2025, the Company and the Investor entered into a side letter agreement, with respect to the Securities Purchase Agreement, pursuant to which, the Investor agreed to release $1,000,000 within one business day from the filing of the Prospectus Supplement, from the Deposit Account of the Company's wholly-owned subsidiary, IPDN Holdings, LLC, a Utah limited liability company, maintained in connection with the Securities Purchase Agreement, subject to certain conditions, including: (i) the Company's withdrawal of its previously filed registration statement on Form S-1 for the registration of certain securities issuable in connection with the Securities Purchase Agreement, (ii) the filing of a new prospectus supplement to its effective shelf registration statement on Form S-3 (File No. 333-282831) to register up to $3,250,000 shares of Common Stock issuable under the initial Pre-Paid Purchase in the principal amount of up to $8,655,000 under the Securities Purchase Agreement, and (iii) the filing of a new registration statement on Form S-1 for the registration of at least 8,250,000 shares of Common Stock issuable to the Investor in connection with the Securities Purchase Agreement within 20 days of the date of the Side Letter. Concurrently, on October 30, 2025, the Company filed a Prospectus Supplement with the U.S. Securities and Exchange Commission in connection with the offer and sale of up to $3,250,000 shares of Common Stock issuable to the Investor under the Initial Pre-Paid Purchase. A copy of the Side Letter signed by John M. Fife, Streeterville's President, is available at https://tinyurl.com/4yn89c3m About Professional Diversity Professional Diversity Network, Inc., headquartered in Chicago, Illinois, operates online and in-person professional networks with a focus on diversity, employment, and career development. The Company serves women, ethnic minorities, military professionals, persons with disabilities, LGBTQ+ individuals, and students transitioning into the workforce through its technology platform. It runs three business segments: TalentAlly Network, which provides job-seeking communities and career resources for diverse groups and employers; NAPW Network, a women-only professional networking organization; and RemoteMore, a service connecting global companies with software developers. In its audit report dated March 31, 2025, Sassetti LLC issued a "going concern" qualification citing that the Company has incurred recurring operating losses, has a significant accumulated deficit, and will need to raise additional funds to meet its obligations and the costs of its operations. These conditions raise substantial doubt about the Company's ability to continue as a going concern. The Company had an accumulated deficit of $103,612,710 at June 30, 2025. During the six months ended June 30, 2025, the Company generated a loss from continuing operations, net of tax, of $1,233,147. During the six months ended June 30, 2025, the Company used cash in continuing operations of 779,651. At June 30, 2025, the Company had a cash balance of $125,081. Total revenues were $3,146,076 and $3,417,302 for the six months ended June 30, 2025 and 2024, respectively. The Company had a working capital deficit from continuing operations of $1,919,261 at June 30, 2025 and a working capital from continuing operations of $270,695 at Dec. 31, 2024. The Company stated it is keeping a close watch on operating expenses and capital needs, noting that management is working to cut costs through staff reductions, renegotiating with certain vendors, and using technology to lessen manual work in routine tasks. It cautioned that if these efforts are not enough, it may have to sell other assets or shut down certain business lines. As of June 30, 2025, the Company reported $7.33 million in total assets, $3.49 million in total liabilities, and $3.84 million in total stockholders' equity. RENPRO LLC: Francis Brennan Named Subchapter V Trustee ------------------------------------------------------ The U.S. Trustee for Region 2 appointed Francis Brennan, Esq., at Whiteman Osterman & Hanna, LLP as Subchapter V trustee for Renpro, LLC. Mr. Brennan will be paid an hourly fee of $480 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Brennan declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Francis Brennan, Esq. Whiteman Osterman & Hanna LLP 80 State Street, 11th Floor Albany, NY 12207 Phone: (518) 487-7600 Email: fbrennan@woh.com About Renpro LLC Renpro, LLC filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. N.D.N.Y. Case No. 25-30911) on October 28, 2025. The Debtor reported between $10 million and $50 million in assets and liabilities at the time of the filing. RENT-A-CHRISTMAS LLC: Unsecureds Will Get 1% via Quarterly Payments ------------------------------------------------------------------- Rent-A-Christmas LLC filed with the U.S. Bankruptcy Court for the Southern District of New York a Subchapter V Plan of Reorganization dated October 27, 2025. The Debtor is a limited liability company formed under the laws of the State of New York on October 17, 2016. The Debtor operates from offices located at 50 Broadway, Suite 200, Office 12, Hawthorne, New York 10532. As of January 1, 2024, Judah Parness is the 100% owner of the Debtor. Prior thereto, Judah Parness and his wife, Kristen Parness, each held a 50% membership interest in Debtor. The Debtor designs, rents and installs Christmas and other seasonal winter displays for commercial and residential clients. On the first five years the Debtor operated, it focused mostly on residential customers and had very modest revenues. The Debtor expended a significant amount of money to purchase new inventory. However, neither project yielded the revenue projected, with one of the contracts, which was for 3 years, being terminated. The losses from these projects resulted in reduced cash flow causing the Debtor to fall considerably behind in payments to its vendors, as well as accruing significant debt. The Debtor filed this Chapter 11 case in order to restructure its affairs and propose a plan of reorganization that is in the best interests of its creditors and affords them the greatest recovery possible. Class 4 shall consist of the Allowed Unsecured Claims. Each holder of an Allowed Unsecured Claim shall receive a distribution, Pro Rata, from the Debtor’s net income in twelve equal quarterly payments in the amount of $1,000 commencing on the Effective Date, and thereafter on the 30th day of March, June, September, and December, of each year, and concluding on June 2028. The Debtor estimates an approximate 1% distribution to Class 4 Claims, with the first pro rata distribution being made on the Effective Date. The allowed unsecured claims total $1,100,031.13. Class 4 Claims are Impaired and holders are entitled to vote under the Plan. Class 5 shall consist of the Holders of Equity Interests in the Debtor. Class 5 consists of Judah Parness, the sole holder of Interests in the Debtor. Class 5 Equity Interests shall retain interests in the Debtor and is not expected to receive any monetary distributions under the Plan. Class 5 Interests are unimpaired and deemed to accept the Plan. The Plan will be financed from the Debtor's projected net income. A full-text copy of the Subchapter V Plan dated October 27, 2025 is available at https://urlcurt.com/u?l=QLJKkb from PacerMonitor.com at no charge. Counsel to the Debtor: Dana P. Brescia, Esq. Kirby Aisner & Curley LLP 700 Post Road, Suite 237 Scarsdale, NY 10583 Telephone: (914) 401-9500 Email: dbrescia@kacllp.com About Rent-A-Christmas LLC Rent-A-Christmas LLC is a seasonal decoration rental company specializing in Christmas trees, lights, and holiday displays for commercial and residential customers. Rent-A-Christmas sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Case No. 25-22707) on July 29, 2025. In its petition, the Debtor estimated assets between $100,000 and $500,000 and liabilities between $1 million and $10 million. Judge Sean H. Lane oversees the case. The Debtor is represented by Julie Cvek Curley, at Kirby Aisner & Curley LLP. RICARDO'S PLACE: Caroline Djang Named Subchapter V Trustee ---------------------------------------------------------- The U.S. Trustee for Region 16 appointed Caroline Djang as Subchapter V trustee for Ricardo's Place, LLC. Ms. Djang will be paid an hourly fee of $610 for her services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Ms. Djang declared that she is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Caroline Djang 18400 Von Karman Ave., Suite 800 Irvine, CA 92612 Phone: (949) 224-6252 Email: cdjang@buchalter.com About Ricardo's Place LLC Ricardo's Place, LLC operates a Mexican cuisine restaurant in San Juan Capistrano, California. The restaurant offers a menu featuring homemade burritos, enchiladas, tamales, fajitas, and other traditional dishes. Ricardo's Place filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. C.D. Calif. Case No. 25-13023) on October 29, 2025, listing up to $50,000 in assets and between $1 million and $10 million in liabilities. William E. Krall, Esq. represents the Debtor as legal counsel. RMS CARRIERS: Gets Extension to Access Cash Collateral ------------------------------------------------------ The U.S. Bankruptcy Court for the District of South Carolina issued a second interim order authorizing RMS Carriers, LLC to continue using cash collateral to operate its business. The second interim order authorized the Debtor to use cash collateral pending a final hearing in accordance with its budget, subject to a 10% variance. All professional fees require court approval before disbursement. As adequate protection for any diminution in its pre-bankruptcy cash collateral, the U.S. Small Business Administration and other secured creditors will be granted replacement liens on post-petition cash collateral, with the same validity and priority as their pre-bankruptcy liens. A final hearing is scheduled for November 18. Objections are due by November 12. The order details the Debtor's secured obligations, including loans from the SBA under the COVID-19 EIDL program, financing from Ally Financial for a 2022 Cadillac Escalade, and three Freightliner trucks financed by Palmetto Citizens Federal Credit Union. The SBA's lien was found to be imperfectly perfected, and the collateral values were outlined in the order. About RMS Carriers, LLC RMS Carriers, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.S.C. Case No. 25-03590) on September 12, 2025, listing between $100,001 and $500,000 in assets and between $500,001 and $1 million in liabilities. Judge Elisabetta Gm Gasparini oversees the case. The Debtor is represented by: William Harrison Penn, Esq. Penn Law Firm, LLC Tel: 803-771-8836 Email: hpenn@pennlawsc.com RONBON LLC: Fine-Tunes Plan Documents ------------------------------------- Ronbon LLC d/b/a The Ainsworth Hoboken submitted a Third Amended Disclosure Statement describing Amended Chapter 11 Plan dated October 28, 2025. Recoveries projected in the Plan shall be from the Debtor's business operations; and shall be used to make the payment of any outstanding statutory fees due and owing the United States Trustee; the payment of allowed costs of administration of the case (the "Administrative Claims"); and a distribution to the holders of Allowed Claims. During the course of the chapter 11 period, the Debtor's principal has made substantial contributions to the continued operations of the Debtor. These substantial contributions are considered "new value" contributions, and the Debtor avers that these new value contributions will satisfy the obligations referred to as the absolute priority rule. The Debtor's assets consist primarily of its restaurant equipment, leasehold improvements, liquor license, interest in its lease and goodwill. As of the Petition Date, the Debtor valued its restaurant equipment and its goodwill at $1,227,446. The Debtor believes that the liquor license does not have any "cash value" however in the event that the restaurant was sold as a going concern it would be a part of such a sale. The Debtor's lease which may be assumed during the course of this chapter 11 case may have value. The value is unknown at this time. However, if the Debtor was to be sold as a going concern, that lease would be reduced to cash for the benefit of the creditors of the estate. The Debtor believes that if the business was sold as a going concern it would result in sufficient funds to satisfy only a portion of the secured debt of Newtek, the priority tax obligations and the administrative expenses of this chapter 11 case resulting in no distribution for the benefit of the general unsecured creditors of the estate. Creditors are urged to review the liquidation analysis set forth in this Disclosure Statement for additional information regarding liquidation. Like in the prior iteration of the Plan, the Debtor's allowed general unsecured creditors in Class 4 total $5,698,880.74. The Debtor's plan proposes to pay the allowed general unsecured creditors the sum of approximately $569,888 (or 10%) over a period of five years. Payments on a monthly basis shall be in the approximate amount of $9,498.00 The Debtor's proposed Plan shall be funded by the Debtor's continued operations. To that end, the Debtor has prepared a budget for the creditors review. This budget is based upon historical data and certain assumptions that are made by the Debtor. The Debtor will be operated by Matthew Shendell. Mr. Shendell was associated with the Debtor prior to the Petition Date. He will continue in his role as manager of the Debtor. Mr. Shendell shall be entitled to a salary of $2,000.00 per week. A full-text copy of the Third Amended Disclosure Statement dated October 28, 2025 is available at https://urlcurt.com/u?l=FQVDTE from PacerMonitor.com at no charge. The Debtor's Counsel: Fred S. Kantrow, Esq. THE KANTROW LAW GROUP, PLLC 732 Smithtown Bypass, Suite 101 Smithtown, NY 11787 Tel: 516-703-3672 Email: fkantrow@thekantrowlawgroup.com About Ronbon LLC Ronbon LLC, engaged in the restaurant industry, operates The Ainsworth Hoboken, a popular dining and bar venue located at 310 Sinatra Drive in Hoboken, NJ. Ronbon LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.Y. Case No. 25-41700) on April 8, 2025. In its petition, the Debtor reports total assets of $1,227,446 and total liabilities of $7,122,070. Judge Nancy Hershey Lord handles the case. The Debtor is represented by Fred S. Kantrow, Esq. at THE KANTROW LAW GROUP, PLLC. Newtek Small Business Finance, LLC, as lender, is represented by: Matthew Burrows, Esq. CHARTWELL LAW One Battery Park Plaza, Suite 701 New York, NY 10004-1445 Telephone: (212) 968-2300 e-mail: mburrows@chartwelllaw.com -and- John J. Winter, Esq. CHARTWELL LAW 700 American Avenue, Suite 303 King of Prussia, PA 19406 Telephone: (610) 666-8437 Telecopier: (610) 666-7704 e-mail: jwinter@chartwelllaw.com RP THE REYNOLDS: Section 341(a) Meeting of Creditors on November 25 ------------------------------------------------------------------- On October 20, 2025, RP The Reynolds Brothers Building Corp. filed Chapter 11 protection in the Southern District of New York. According to court filing, the Debtor reports between $1 million and $10 million in debt owed to 1 and 49 creditors. A meeting of creditors under Section 341(a) to be held on November 25, 2025 at 03:00 PM at Office of UST (TELECONFERENCE ONLY). About RP The Reynolds Brothers Building Corp. RP The Reynolds Brothers Building Corp. is a single-asset real estate entity (as defined in 11 U.S.C. Section 101(51B)). RP The Reynolds Brothers Building Corp.relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Case No. 25-12309) on October 20, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million. The Debtor is represented by Norma E. Ortiz, Esq. of ORTIZ & ORTIZ, LLP. RYVYL INC: Reschedules 2025 Annual Meeting to December 15 --------------------------------------------------------- RYVYL Inc. has rescheduled its 2025 Annual Meeting of Stockholders, previously scheduled to be held at 4:00 PM (Pacific Time) on Thursday, October 30, 2025, to a new date of Monday, December 15, 2025. The Company intends to set a record date for a determination of stockholders entitled to notice and to vote at the 2025 Annual Meeting of October 31, 2025. The new record date allows a significant number of new shareholders to participate, following the September 30, 2025 announcement of the Company's signing of a definitive agreement to merge with privately held RTB Digital, Inc. Roundtable is a Web3 digital media SaaS technology company. Since the announcement of the proposed merger, RYVYL's shares have experienced more than 450 million shares of total trading activity, reflecting the significant interest shareholders have in anticipation of the merger. The Company plans to promptly file with the U.S. Securities and Exchange Commission and mail new proxy statement materials as soon as practicable, which will include a new notice of the 2025 Annual Meeting and contain additional information about the 2025 Annual Meeting. Roundtable operates a fully funded enterprise-SaaS platform business, and recently invested $5 Million in RYVYL, after raising $33 Million to contribute to the combined businesses. Roundtable is already powering its Web3 media platform for major media brands and premium clients, generating millions in Web3-based revenue and audience engagement, and in partnership with Yahoo, TheStreet and nearly two hundred sports publishers, including the recent acquisition of the majority of Sports Illustrated's top revenue producing partners, including the world's #1 hockey content network. Roundtable leverages the most advanced and efficient elements of blockchain technology, including decentralized reporting, security, encrypted IP and audience data, Web3-based content management and syndication and is the only large-scale, Web3-powered media platform -- purpose-built for professional publishers and content networks. Roundtable is a Web3, digital media SaaS platform company, providing white-label, full stack distribution, community, publishing and monetization for professional media brands, and professional journalists - fortified and powered by a Bitcoin-focused liquidity pool integrated into the platform. Visit RTB.io. About RYVYL Inc. RYVYL Inc., headquartered in San Diego, Calif., develops financial technology platforms and tools focused on global payment acceptance and disbursement. The Company's QuickCard product, initially a physical and virtual card processing system for high-risk, cash-based businesses, has transitioned to a fully virtual, app-based platform and is now offered through a licensing model to partners with compliance capabilities. RYVYL operates in the fintech industry, providing cloud-based payment solutions and merchant management services. In its audit report dated March 28, 2025, Simon & Edward, LLP issued a "going concern" qualification citing that the Company transitioned its QuickCard product in North America away from terminal-based to app-based processing on February 2024, which was then terminated on the second quarter of 2024 and the Company then decided to introduce a licensing product for its payments processing platform. This business reorganization has resulted in a significant decline in processing volume and revenue, the recovery of the loss of revenues resulting from this product transition is not expected to occur until late 2025. The auditor said the loss of revenue has jeopardized the Company's ability to continue as a going concern. The Company reported a net loss of $26.83 million in 2024 following a net loss of $53.10 million in 2023. As of June 30, 2025, the Company had $20.60 million in total assets, $27.54 million in total liabilities, and a total stockholders' deficit of $6.94 million. As of Dec. 31, 2024, the Company had an accumulated deficit of $179.4 million. According to RYVYL, there can be no assurances that it will be able to achieve a level of revenues adequate to generate sufficient cash flow from operations or additional financing through private placements, public offerings and/or bank financing necessary to support its working capital requirements. To the extent that funds generated from any private placements, public offerings and/or bank financing are insufficient, it will need to raise additional working capital. There is no guarantee that additional financing will be available, or that any obtained funding can be secured on terms deemed acceptable. SANUWAVE HEALTH: Ex-President Walko Exits with $76,700 Severance ---------------------------------------------------------------- On September 25, 2025, Andrew Walko, the former President of Sanuwave Health, Inc., was terminated without cause, effective as of October 24, 2025. On the Separation Date, Mr. Walko and the Company entered into a Separation and Release Agreement, pursuant to which Mr. Walko will receive an aggregate of $76,666.67 in cash, which is approximately equal to four months plus one week of his annual base salary, less applicable federal and state taxes, payable in equal installments over the four-month period following the Separation Date, with the initial installment of one week's base salary payable on October 31, 2025 and the remaining installments beginning after the expiration of the recission period described in the Separation Agreement. In addition, the Separation Agreement provides that Mr. Walko's employee stock options will continue to vest during the Severance Period and shall remain outstanding and exercisable until their respective expiration dates. The Severance Agreement also includes a release of claims in favor of the Company and customary confidentiality and non-disparagement provisions. A full-text copy of the Separation Agreement is available at https://tinyurl.com/muf9edfs About SANUWAVE Headquartered in Suwanee, Ga., SANUWAVE Health, Inc. (OTCQB:SNWV) -- http://www.SANUWAVE.com-- is an ultrasound and shock wave technology Company using patented systems of noninvasive, high-energy, acoustic shock waves or low intensity and non-contact ultrasound for regenerative medicine and other applications. The Company's focus is regenerative medicine utilizing noninvasive, acoustic shock waves or ultrasound to produce a biological response resulting in the body healing itself through the repair and regeneration of tissue, musculoskeletal, and vascular structures. The Company's two primary systems are UltraMIST and PACE. UltraMIST and PACE are the only two Food and Drug Administration (FDA) approved directed energy systems for wound healing. New York, NY-based Marcum LLP, the Company's auditor since 2018, issued a "going concern" qualification in its report dated March 20, 2025, attached to the Company's Annual Report on Form 10-K for the year ended December 31, 2024, citing that the Company has incurred recurring losses, has negative working capital, and needs to refinance its debt to meet its obligations and sustain its operations. These conditions raise substantial doubt about the Company's ability to continue as a going concern. For the fiscal year ended December 31, 2024, SANUWAVE had $30.12 million in total assets, $42.84 million in total liabilities, and $12.72 million in total stockholders' deficit. As of June 30, 2025, the Company had $33.05 million in total assets, $47.82 million in total liabilities, and $14.78 million in total stockholders' deficit. SEAMLESS QUALITY: Gets Interim OK to Use Cash Collateral -------------------------------------------------------- The U.S. Bankruptcy Court for the Middle District of Florida entered an interim order authorizing Seamless Quality Solutions, LLC to use cash collateral. The interim order signed by Judge Jason Burgess authorized the Debtor to use cash collateral to pay the amounts expressly authorized by the court, including payments to the U.S. trustee for quarterly fees; the expenses set forth in the budget, plus an amount not to exceed 10% for each line item; and additional amounts subject to approval by Amerifactors/Gulf Coast Bank & Trust Company. This authorization will continue until further court order. As adequate protection, Amerifactors/Gulf Coast Bank & Trust Company and other secured creditors will receive replacement liens, with the same priority as their pre-bankruptcy liens. In addition, the Debtor must maintain insurance and allow secured creditors access to business records and premises upon notice. The interim order reserves the rights of all parties, including the U.S. Trustee and any future creditors' committee, to challenge liens or seek modified protections. The next hearing is scheduled for December 4. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/90RM5 from PacerMonitor.com. About Seamless Quality Solutions, LLC Seamless Quality Solutions, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Flo. Case No. 25-03853) on October 23, 2025, listing between $50,001 and $100,000 in assets and between $100,001 and $500,000 in liabilities. Judge Hon. Jason A Burgess oversees the case. The Debtor is represented by: Bryan K. Mickler, Esq. Mickler & Mickler Tel: 904-725-0822 Email: court@planlaw.com SECURITY TRANSPORT: Hires Cole Advisors as Consultant and Advisor ----------------------------------------------------------------- Security Transport, Inc. seeks approval from the U.S. Bankruptcy Court for the Northern District of Indiana, Hammond Division, to employ Cole Advisors, LLC as Business Consultant and Restructuring Advisor in its Chapter 11 case. Cole Advisors will provide these services: (a) review and analyze cash performance, analysis and modeling including a 13-week cash flow; (b) review and analyze business performance including prior year results and pro-forma projections; (c) review income statement, balance sheet, and gross, operating and net profit performance; (d) assess sales and distribution programs and systems, operations and KPIs, and financial statements; (e) assist with bank reporting including borrowing base reports; (f) advise on strategy, staffing, senior management, and sales; (g) conduct capital review and preparation for debt or equity changes or injections, if appropriate; (h) assist in partner issues, mergers, acquisitions or divestitures; (i) manage bank and key vendor relationships, including reviews and renegotiations; and (j) provide litigation assistance. Cole Advisors will be compensated on an hourly basis at a rate of $250 per hour, or such other rate as the Court shall allow. The firm's hourly consulting fees are: Victor Mattison $250 Tom Matthews $200 Michael Ellis $200 Larry Young $170 Stephanie Neuf & Admin $125 Travel time (hourly, door to door) $75 In addition, Cole Advisors may receive success fees, including 2.5% of any new debt or lease financing, 5% of new equity financing, 4.5% of gross sale proceeds for business sales, 4.5% of gross purchase price for acquisitions, 6% of any negotiated lender or vendor debt reduction, and 25% of annual wages plus bonus for key staff hires. The firm will hold a $10,000 retainer under an Evergreen Retainer arrangement until termination of the agreement. Cole Advisors represents no interests adverse to that of the Debtor, the Trustee, or any creditor of the bankruptcy estate, according to court filings. The firm can be reached at: Victor Mattison COLE ADVISORS, LLC 712 N. 2nd Street, Suite 301 St. Louis, MO 63102 About Security Transport Inc. Security Transport Inc., headquartered in Hammond, Indiana, provides truckload transportation services for dry goods throughout the contiguous U.S. and Canada. Established in 2012, the Company operates a fleet of tractors and trailers to haul general freight, metals, beverages, paper products, and waste. Its operations concentrate on time-sensitive and value-added logistics solutions in the transportation and logistics sector. Security Transport Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ind. Case No. 25-22114) on October 15, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. The Debtor is represented by Daniel L. Freeland, Esq. of DANIEL L. FREELAND & ASSOCIATES, P.C. SHPS PLLC: Employs Condon Tobin Sladek as Legal Counsel ------------------------------------------------------- SHPS PLLC seeks approval from the U.S. Bankruptcy Court for the Northern District of Texas, Fort Worth Division, to hire Condon Tobin Sladek Sparks Nerenberg, PLLC to serve as its legal counsel. Condon Tobin will provide these services: (a) advise the Debtor of the rights, powers, duties, and obligations of the Debtor as debtor and debtor-in-possession in this Chapter 11 case; (b) take all necessary actions to protect and preserve the estates of the Debtor, including the prosecution of actions on the Debtor's behalf, the defense of actions commenced against the Debtor, the negotiation of disputes in which the Debtor is involved, and the preparation of objections with respect to claims that are filed against the estate; (c) assist the Debtor in the investigation of the acts, conduct, assets, and liabilities of the Debtor, and any other matters relevant to the case; (d) investigate and potentially prosecute preference, fraudulent transfer, and other causes of action arising under the Debtor's avoidance powers and/or which are property of the estate; (e) prepare on behalf of the Debtor all necessary motions, applications, answers, orders, reports, and papers in connection with the representation of the Debtor and the administration of the estates; (f) negotiate, draft, and present on behalf of the Debtor a plan for the reorganization of the Debtor's financial affairs and related disclosure statement; and (g) perform all other necessary legal services in connection with this Chapter 11 case and any other bankruptcy-related representation that the Debtor requires. Condon Tobin will be compensated at hourly rates ranging from $800 to $500 for attorneys and $250 to $350 for paraprofessionals. The lead attorney, H. Joseph Acosta, will charge $675 per hour. The Debtor provided a retainer of $16,738, of which $3,630.50 remained on hand as of the Petition Date. According to court filings, Condon Tobin is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code. The firm can be reached at: H. Joseph Acosta, Esq. Jeff Carruth, Esq. Aimee E. Marcotte, Esq. CONDON TOBIN SLADEK SPARKS NERENBERG, PLLC 8080 Park Lane, Suite 700 Dallas, TX 75231 Telephone: (214) 265-3852 Facsimile: (214) 691-6311 E-mail: jacosta@condontobin.com jcarruth@condontobin.com amarcotte@condontobin.com About SHPS LLC SHPS LLC, doing business as Radiologist.com, provides onsite and teleradiology services from its facility in Frisco, Texas, offering expert imaging interpretations, consultations, and radiology management support. The Company leverages advanced imaging technology and AI to deliver precise diagnostic insights and partners with healthcare providers to enhance patient care. SHPS serves hospitals, clinics, and other healthcare professionals across its operational network. SHPS sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Texas Case No. 25-43740) on September 30, 2025. In its petition, the Debtor reported estimated assets and liabilities between $1 million and $10 million each. Honorable Judge Mark X. Mullin oversees the case. The Debtor is represented by Joseph Acosta, Esq., at Condon Tobin Sladek Thornton Nerenberg, PLLC. SMILES AROUND: Section 341(a) Meeting of Creditors on December 1 ---------------------------------------------------------------- On October 22, 2025, Smiles Around Us II Inc. filed Chapter 11 protection in the Eastern District of New York. According to court filing, the Debtor reports $1,290,765 in debt owed to 1 and 49 creditors. A meeting of creditors filed by the Office of the United States Trustee under Section 341(a) to be held on December 1, 2025 at 11:00 AM at USA Toll-Free (888) 330-1716, USA Caller Paid/International Toll (713) 353-7024, Access Code 8185618. About Smiles Around Us II Inc. Smiles Around Us II Inc., doing business as Smiles Around Us Academy, operates an early childhood education center in Staten Island, New York. The school offers 3K and Universal Pre-K (UPK) programs focused on social, emotional, linguistic, cognitive, and physical development through play-based and learner-centered instruction. It emphasizes individualized growth, family engagement, and collaborative learning environments to prepare children for continued academic success. Smiles Around Us II Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.Y. Case No. 25-45097) on October 22, 2025. In its petition, the Debtor reports total assets of $139,646 and total liabilities of $1,290,765. Honorable Bankruptcy Judge Elizabeth S. Stong handles the case. The Debtor is represented by Alla Kachan, Esq. of LAW OFFICES OF ALLA KACHAN, P.C. SOURCE MORTGAGE: Application to Employ Payne Law Firm Okayed ------------------------------------------------------------ Judge M. Ruthie Hagan of the United States Bankruptcy Court for the Western District of Tennessee granted Source Mortgage & Funding, Inc.'s application to employ Payne Law Firm as bankruptcy counsel. The Court denied nunc pro tunc relief. Debtor's Counsel in this case failed to file a timely employment application, and now seeks, ore tenus, nunc pro tunc relief as of the petition date for purposes of qualifying for compensation. Without extraordinary circumstances, counsel cannot be compensated for services rendered before the filing of the application to employ and its subsequent approval by the court. Counsel does not dispute that he failed to file the application by the required deadline or that nunc pro tunc approval requires extraordinary circumstances. Instead, Counsel argues that as this is his first filing as lead counsel of a Subchapter V bankruptcy case, he asks leniency for his late application. Counsel's application is granted as of the date of the filing of the application, September 30, 2025. Debtor's Counsel failed to establish any extraordinary circumstances sufficient to justify the Court in granting nunc pro tunc relief to the July 23, 2025 Petition Date. There was no evidence presented to support a finding that the failure to timely file the application was caused by extraordinary circumstances. The Court acknowledges that between the petition date and the filing of the application, Counsel performed some amount of bankruptcy-related work for the Debtor's benefit. Counsel will not be compensated for work performed and fees incurred in this case between July 23, 2025 and September 29, 2025. The firm will render these services: a. advise and consult with the Debtor-in-Possession regarding questions arising from certain contract negotiations which will occur during the operation of business by the Debtor-in-Possession; b. evaluate and attack claims of various creditors who may assert security interests in the assets and who may seek to disturb the continued operation of the business; c. appear in, prosecute, or defend suits and proceedings, and to take all necessary and proper steps and other matters and things involved in or connected with the affairs of the estate of the Debtor; d. represent the Debtor in court hearings and to assist in the preparation of contracts, reports, accounts, petitions, applications, orders and other papers and documents as may be necessary in this proceeding; e. advise and consult with Debtor in connection with any reorganization plan which may be proposed in this proceeding and any matters concerning the Debtor which arise out of or follow the acceptance or consummation of such reorganization or its rejection; and f. perform such other legal services on behalf of the Debtor as they become necessary in this proceeding. The firm will be paid at these rates: Jerome C. Payne $400 per hour Associates $200 per hour Paralegals $175 per hour The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Jerome Payne, Esq., a partner at Payne Law Firm, 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. A copy of the Court's Opinion and Order dated October 30, 2025, is available at https://urlcurt.com/u?l=rUmnQo from PacerMonitor.com. About Source Mortgage & Funding, Inc Source Mortgage & Funding, Inc. sought protection for relief under Chapter 11 of the Bankruptcy Code (Bankr. W.D. Tenn. Case No. 25-23647) on July 23, 2025, listing up to $50,000 in both assets and liabilities. Judge M. Ruthie Hagan presides over the case. Jerome C. Payne, Esq., at Payne Law Firm, represents the Debtor as counsel. SOUTHERN CHICKEN-PEACHTREE: Voluntary Chapter 11 Case Summary ------------------------------------------------------------- Debtor: Southern Chicken-Peachtree City, LLC 2025 Commerce Drive North Peachtree City, GA 30269 Business Description: Southern Chicken–Peachtree City, LLC is identified as a single-asset real estate entity under 11 U.S.C. Section 101(51B), whose primary business is owning and operating a single income-producing property. Chapter 11 Petition Date: November 3, 2025 Court: United States Bankruptcy Court Northern District of Georgia Case No.: 25-11659 Judge: Hon. Paul Baisier Debtor's Counsel: Leslie Pineyro, Esq. JONES & WALDEN LLC 699 Piedmont Avenue NE Atlanta, GA 30308 Tel: 404-564-9300 Email: info@joneswalden.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Robert Sowinski as manager. The Debtor has declared in the petition that there are no unsecured creditors. A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/AFNCCYY/Southern_Chicken-Peachtree_City__ganbke-25-11659__0001.0.pdf?mcid=tGE4TAMA SOUTHERN CHICKEN-WOODSTOCK: Case Summary & One Unsecured Creditor ----------------------------------------------------------------- Debtor: Southern Chicken-Woodstock, LLC 2004 Eagle Drive Woodstock, GA 30189 Case No.: 25-62780 Business Description: Southern Chicken–Woodstock, LLC is identified as a single-asset real estate entity under 11 U.S.C. Section 101(51B), indicating its primary business centers on owning and operating a single income- generating property. Chapter 11 Petition Date: November 3, 2025 Court: United States Bankruptcy Court Northern District of Georgia Judge: Hon. Paul W Bonapfel Debtor's Counsel: Leslie Pineyro, Esq. JONES & WALDEN LLC 699 Piedmont Avenue NE Atlanta, GA 30308 Tel: 404-564-9300 Email: info@joneswalden.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Robert Sowinski as manager. Axis Construction LLC, based at 8185 Industrial Place in Alpharetta, Georgia 30004, was listed by the Debtor as its only unsecured creditor with a claim totaling $380,829. A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/AIU3DDA/Southern_Chicken-Woodstock_LLC__ganbke-25-62780__0001.0.pdf?mcid=tGE4TAMA SPIRIT AEROSYSTEMS: Widens Net Loss to $724 Million in Fiscal Q3 ---------------------------------------------------------------- Spirit AeroSystems Holdings, Inc. filed with the U.S. Securities and Exchange Commission its Quarterly Report on Form 10-Q reporting a net loss of $724 million and $476.6 million for the three months ended October 2, 2025 and September 26, 2024, respectively. For the nine months ended October 2, 2025 and September 26, 2024, the Company reported a net loss of $1.97 billion and $1.51 billion, respectively. Net revenues for the three months ended October 2, 2025 and September 26, 2024, were $1.59 billion and $1.47 billion, respectively. For the nine months ended October 2, 2025 and September 26, 2024, the Company had revenues of $4.74 billion and $4.67 billion, respectively. As of October 2, 2025, the Company had $6.1 billion in total assets, $10.62 billion in total liabilities, and $4.52 billion in total deficit. On June 30, 2024, Holdings entered into an Agreement and Plan of Merger with The Boeing Company and Sphere Acquisition Corp., a wholly owned subsidiary of Boeing -- Merger Sub. The Merger Agreement provides that, subject to the terms and conditions set forth in the Merger Agreement, Merger Sub will merge with and into Holdings, with Holdings surviving the Merger and becoming a wholly owned subsidiary of Boeing. Subject to satisfaction of the closing conditions in the Merger Agreement, the closing of the Merger is expected to occur in the fourth quarter of 2025. In connection with the proposed merger, Spirit and Boeing have each received a request for additional information -- second request -- from the Federal Trade Commission as part of the regulatory review process under the HSR Act. The second request extends the waiting period imposed by the HSR Act until 30 days after Spirit and Boeing have substantially complied with the requests or the waiting period is terminated sooner by the Federal Trade Commission. A full-text copy of the Company's Form 10-Q is available at: https://tinyurl.com/s972uzwk About Spirit AeroSystems Holdings Spirit AeroSystems Holdings, Inc. provides manufacturing and design expertise in a wide range of fuselage, propulsion, and wing products and services for aircraft original equipment manufacturers and operators through Holdings' subsidiaries including Spirit. The Company's headquarters are in Wichita, Kansas, with manufacturing and assembly facilities in Tulsa, Oklahoma; Prestwick, Scotland; Wichita, Kansas; Kinston, North Carolina; Subang, Malaysia; Saint-Nazaire, France; Belfast, Northern Ireland; Casablanca, Morocco; and Dallas, Texas. Hackensack, New Jersey-based Ernst & Young LLP, the Company's auditor since 2014, issued a "going concern" qualification in its report dated February 28, 2025 attached to the Company's 10-K Report for the fiscal year ended December 31, 2024. The report cited that, the Company has suffered recurring losses from operations and has stated that substantial doubt exists about the Company's ability to continue as a going concern. As of October 2, 2025, the Company had $6.1 billion in total assets, $10.62 billion in total liabilities, and $4.52 billion in total deficit. SPLASH BEVERAGE: Raises $400,000 in Sale of Preferreds, Warrants ---------------------------------------------------------------- Splash Beverage Group, Inc. disclosed in a Form 8-K Report filed with the U.S. Securities and Exchange Commission that on August 9, 2025 and October 24, 2025, the Company sold to two accredited investors shares of Series A-1 Convertible Redeemable Preferred Stock, together with a total of 100,000 one-year Class A Warrants and 100,000 five-year Class B Warrants for total gross proceeds of $400,000. The material terms of the Series A-1 and Warrants, and certain other agreements and rights related to investments therein are summarized in the Company's Current Report on Form 8-K filed on June 26, 2025. The terms of the investments disclosed herein are the same as those described in the Prior 8-K, available at https://tinyurl.com/3bwr9d3k In exchange for $250,000, the Company also expects to sell an additional 250 shares of Series A-1 and 62,500 accompanying A Warrants and B Warrants, respectively, in November 2025 to one of the accredited investors referred to herein. About Splash Beverage Group Fort Lauderdale, Florida-based Splash Beverage Group, Inc. is a portfolio company specializing in managing multiple brands across various growth segments within the consumer beverage industry. The Company focuses on incubating and acquiring brands with the aim of ccelerating them to higher volumes and increased sales revenue. As of December 31, 2024, the Company and $2.8 million in total assets, $21.4 million in total liabilities, and $18.6 million in total stockholders' deficit. Encino, Calif.-based Rose, Snyder & Jacobs LLP, the Company's auditor since 2023, issued a "going concern" qualification dated July 11, 2025, attached to the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2024. The report indicated that the Company has suffered recurring losses from operations and has an accumulated deficit and a working capital deficiency that raise substantial doubt about its ability to continue as a going concern. SRX HEALTH: Keystone Agrees to Up Commitment to $1BB ---------------------------------------------------- SRx Health Solutions, Inc. disclosed in a Form 8-K Report filed with the U.S. Securities and Exchange Commission that on October 28, 2025, the Company and Keystone Capital Partners, LLC, a Delaware limited liability company, agreed to amend a Common Stock Purchase Agreement to increase the Total Commitment from $50 million to $1 billion. A copy of the Amendment to Common Stock Purchase Agreement is available at https://urlcurt.com/u?l=F35Jiv On July 7, 2025, the Company entered into the Common Stock Purchase Agreement with Keystone that provides for an equity line of credit whereby the Company may issue and sell to Keystone from time to time up to $50 million of shares of its common stock, par value $0.001 per share together with any other shares of Common Stock (or other securities of the Company) issued (or issuable) in connection therewith. In connection with such amendment, the Company issued to the Investor a convertible promissory note in the aggregate principal amount of $20 million. About SRx Health Solutions, Inc. SRx Health Solutions, Inc. formerly known as Better Choice Company Inc., -- https://srxhealth.com/ -- is an integrated Canadian healthcare services provider that operates within the specialty healthcare industry. The SRx network extends across all ten Canadian provinces, making it one of the most accessible providers of comprehensive, integrated, and customized specialty healthcare services in the country. SRx combines years of industry, knowledge, technology, and patient-centric focus to create strategies and solutions that consistently exceed client expectations and drive critical patient care initiatives aimed to improve the wellness of Canadians. Tampa, Fla.-based Marcum LLP, the Company's auditor since 2024, issued a "going concern" qualification in its report dated March 31, 2025, attached to the Company's Annual Report on Form 10-K for the year ended Dec. 31, 2024, citing that the Company has incurred significant losses and has an accumulated deficit and may need 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. As of June 30, 2025, the Company had $33.99 million in total assets, $79.87 million in total liabilities, and $45.88 million in total stockholders' deficit. SRX HEALTH: Raises $15.23M via Series A Preferred and Warrants -------------------------------------------------------------- SRx Health Solutions, Inc. disclosed in a Form 8-K Report filed with the U.S. Securities and Exchange Commission that on October 27, 2025, the Company entered into a Securities Purchase Agreement with certain accredited investors named therein. A copy of the Securities Purchase Agreement is available at https://urlcurt.com/u?l=cL77zP Pursuant to the Securities Purchase Agreement, up to 38,070 shares of the Company's Series A convertible preferred stock, par value $0.001 per share and accompanying warrants to purchase shares of the Company's common stock, par value $0.001 per share may be purchased for an aggregate purchase price of up to $30.46 million in one or more closings. On October 31, 2025, pursuant to the Securities Purchase Agreement, the Company issued and sold, and certain investors purchased, in a private placement: 19,035 shares of the Series A Preferred Stock and 54,527,811 Warrants to purchase shares of Common Stock for aggregate proceeds of approximately $15.23 million, paid in cash or through the cancellation of such investor's July Note and July Warrant (in each case as defined in the Securities Purchase Agreement) in lieu of cash. The date of the first closing is referred to as the "First Closing Date." Each additional closing of the Private Placement is at the option of the investors upon notice to the Company and subject to satisfaction of customary closing conditions. The Warrants expire on the third anniversary of their initial exercisability date and have an initial exercise price of $0.6109, subject to adjustment as set forth therein. Following the Stockholder Approval Date, the exercise price of the Warrants will be subject to adjustment upon lower priced securities issuances, or upon certain triggering events which consist of specific types of default under the terms of the transaction documents. In no event can the conversion and exercise price go below $0.6109, subject to adjustment for stock splits, stock dividends, stock combinations, recapitalizations and similar events, and as otherwise provided therein. Series A Preferred Stock: The Company has designated 75,000 shares of the Company's authorized and unissued preferred stock as Series A Preferred Stock and established the rights, preferences and privileges of the Series A Preferred Stock pursuant to the Certificate of Designations of Rights and Preferences of the Series A Preferred Stock, as summarized below: General. Each share of Series A Preferred Stock has a stated value of $1,000 per share and, when issued, the Series A Preferred Stock will be fully paid and non-assessable. Ranking. The Series A Preferred Stock, with respect to the payment of dividends, distributions and payments upon the liquidation, dissolution and winding up of the Company, ranks senior to all capital stock of the Company unless the Required Holders (as defined in the Certificate of Designations) consent to the creation of other capital stock of the Company that is senior or equal in rank to the Series A Preferred Stock. Dividends. The holders of Series A Preferred Stock will be entitled to dividends, on an as-if converted basis, equal to and in the same form as dividends actually paid on shares of the Company's Common Stock, when and if actually paid. Purchase Rights. If at any time the Company grants, issues or sells any options, convertible securities, or rights to purchase stock, warrants, securities or other property pro rata to all or substantially all of the record holders of any class of Common Stock (the "Purchase Rights"), then each holder of Series A Preferred Stock will be entitled to acquire, upon the terms applicable to such Purchase Rights, the aggregate Purchase Rights which such holder could have acquired if such holder had held the number of shares of Common Stock acquirable upon complete conversion of all the Series A Preferred Stock held by such holder immediately prior to the date as of which the record holders of shares of Common Stock are to be determined for the grant, issue or sale of such Purchase Rights at the Alternate Conversion Price; subject to certain limitations on beneficial ownership. Conversion Rights: Conversion at Option of Holder. Each holder of Series A Preferred Stock may convert all, or any part, of the outstanding Series A Preferred Stock, at any time at such holder's option, into shares of the Common Stock (which converted shares of Common Stock are referred to as "Conversion Shares" herein) at the fixed "Conversion Price" of $0.6109 which is subject to proportional adjustment upon the occurrence of any stock split, stock dividend, stock combination and/or similar transactions. Voluntary Adjustment Right. Subject to the rules and regulations of the NYSE American, the Company has the right, at any time, with the written consent of the Required Holders, to lower the fixed conversion price to any amount and for any period of time deemed appropriate by the board of directors of the Company. Alternate Conversion Upon a Triggering Event. Following the occurrence and during the continuance of a Triggering Event, each holder may alternatively elect to convert the Series A Preferred Stock at the "Alternate Conversion Price" equal to the lesser of the applicable conversion price, and the greater of: (A) the floor price of $0.6109; and (B) 90% of the lowest volume weighted average price of the Common Stock during the five consecutive trading days immediately prior to such conversion. The Certificate of Designations contains standard and customary triggering events, including but not limited to: (i) the suspension from trading or the failure to list the Common Stock within certain time periods; (ii) failure to declare or pay any dividend when due; (iii) the failure to timely file or make effective a registration statement on Form S-1 or Form S-3 pursuant to the Registration Rights Agreement; (iv) the Company's failure to cure a conversion failure or notice of the Company's intention not to comply with a request for conversion of any Series A Preferred Stock; and (iv) bankruptcy or insolvency of the Company. Stockholder Approval. In connection with the Private Placement, the Company has agreed to seek stockholder approval at a special meeting of stockholders, increase in the Company's authorized shares of Common Stock from 200,000,000 to 5,000,000,000. Change of Control Exchange. Upon a change of control of the Company, each holder may require the Company to exchange the holder's shares of Series A Preferred Stock for consideration equal to the Change of Control Election Price (as defined in the Certificate of Designations), to be satisfied at the Company's election in either (x) cash or (y) rights convertible into such securities or other assets to which such holder would have been entitled with respect to such shares of Common Stock had such shares of Common Stock been held by such holder upon consummation of such corporate event. Company Optional Redemption. At any time the Company shall have the right to redeem in cash all, but not less than all, the shares of Series A Preferred Stock then outstanding at a redemption price equal to 125% of the greater of: (i) the Conversion Amount being redeemed as of the Company optional redemption date and (ii) the product of: (1) the conversion rate with respect to the Conversion Amount being redeemed as of the Company optional redemption date multiplied by (2) the greatest closing sale price of the Common Stock on any Trading Day during the period commencing on the date immediately preceding such Company optional redemption notice date and ending on the Trading Day immediately prior to the date the Company makes the entire payment required to be made. Fundamental Transactions. The Certificate of Designations prohibit the Company from entering specified fundamental transactions (including, without limitation, mergers, business combinations and similar transactions) unless the Company (or the Company's successor) assumes in writing all of the Company's obligations under the Certificate of Designations and the other Transaction Documents (as defined in the Certificate of Designations). Voting Rights. The holders of the Series A Preferred Stock shall have no voting power and no right to vote on any matter at any time, either as a separate series or class or together with any other series or class of share of capital stock, and shall not be entitled to call a meeting of such holders for any purpose nor shall they be entitled to participate in any meeting of the holders of Common Stock, except as provided in the Certificate of Designations (or as otherwise required by applicable law). Covenants. The Certificate of Designations contains a variety of obligations on the Company's part not to engage in specified activities. In particular, the Company will not, and will cause the Company's subsidiaries to not, redeem, repurchase or declare any dividend or distribution on any of the Company's capital stock (other than as required under the Certificate of Designations) and will not incur any indebtedness other than ordinary course trade payables or, subject to certain exceptions, incur any liens. In addition, the Company will not issue any preferred stock or issue any other securities that would cause a breach or default under the Certificate of Designations. Reservation Requirements. From and after the Stockholder Approval Date, so long as any Series A Preferred Stock remains outstanding, the Company shall at all times reserve at least 200% of the number of shares of Common Stock as shall from time to time be necessary to effect the conversion of all Series A Preferred Stock then outstanding. Registration Rights Agreement: In conjunction with the Securities Purchase Agreement, on October 31, 2025, the Company entered a Registration Rights Agreement with the investors, pursuant to which the Company will be required to file a registration statement with the Securities and Exchange Commission, to register for resale the Common Stock issuable upon: (x) the conversion of the Series A Preferred Stock; and (y) the exercise of the Warrants. On October 27, 2025, the Company filed the Certificate of Designations for the purpose of designating and establishing the Company's Series A Preferred Stock. The Certificate of Designations was filed pursuant to the Securities Purchase Agreement. The Company is represented by: Louis Lombardo, Esq. Meister Seelig & Fein PLLC 125 Park Avenue, 7th Floor New York, NY 10017 Tel: (212) 655-3500 E-Mail: LL@msf-law.com The Investors are represented by: Michael A. Adelstein, Esq. Kelley Drye & Warren LLP 3 World Trade Center 175 Greenwich Street New York, NY 10007 Tel: (212) 808-7540 E-mail: madelstein@kelleydrye.com About SRx Health Solutions, Inc. SRx Health Solutions, Inc. formerly known as Better Choice Company Inc. -- https://srxhealth.com/ -- is an integrated Canadian healthcare services provider that operates within the specialty healthcare industry. The SRx network extends across all ten Canadian provinces, making it one of the most accessible providers of comprehensive, integrated, and customized specialty healthcare services in the country. SRx combines years of industry, knowledge, technology, and patient-centric focus to create strategies and solutions that consistently exceed client expectations and drive critical patient care initiatives aimed to improve the wellness of Canadians. Tampa, Fla.-based Marcum LLP, the Company's auditor since 2024, issued a "going concern" qualification in its report dated March 31, 2025, attached to the Company's Annual Report on Form 10-K for the year ended Dec. 31, 2024, citing that the Company has incurred significant losses and has an accumulated deficit and may need 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. As of June 30, 2025, the Company had $33.99 million in total assets, $79.87 million in total liabilities, and $45.88 million in total stockholders' deficit. SRX HEALTH: Two Directors Resign Voluntarily; Board Reconstituted ----------------------------------------------------------------- SRx Health Solutions, Inc. disclosed in a Form 8-K Report filed with the U.S. Securities and Exchange Commission that on October 31, 2025, the Company accepted the voluntary resignation of each of Lionel F. Conacher and David Allen White from the Company's Board of Directors, effective immediately. Neither resignation is the result of any dispute or disagreement with the Company on any matters relating to the Company's financial statements, internal controls, operations, policies, or practices. Following such resignations, the committees of the Board of Directors are constituted as follows: * each of Michael Young, Simon Conway and Joshua A. Epstein is a member of each of the Audit Committee, Compensation Committee and Nominating and Governance Committee, with Mr. Young serving as the chairman of the Compensation Committee; * Mr. Conway serving as the chairman of the Audit Committee; and * Mr. Epstein serving as the chairman of the Nominating and Governance Committee. About SRx Health Solutions, Inc. SRx Health Solutions, Inc. formerly known as Better Choice Company Inc. -- https://srxhealth.com/ -- is an integrated Canadian healthcare services provider that operates within the specialty healthcare industry. The SRx network extends across all ten Canadian provinces, making it one of the most accessible providers of comprehensive, integrated, and customized specialty healthcare services in the country. SRx combines years of industry, knowledge, technology, and patient-centric focus to create strategies and solutions that consistently exceed client expectations and drive critical patient care initiatives aimed to improve the wellness of Canadians. Tampa, Fla.-based Marcum LLP, the Company's auditor since 2024, issued a "going concern" qualification in its report dated March 31, 2025, attached to the Company's Annual Report on Form 10-K for the year ended Dec. 31, 2024, citing that the Company has incurred significant losses and has an accumulated deficit and may need 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. As of June 30, 2025, the Company had $33.99 million in total assets, $79.87 million in total liabilities, and $45.88 million in total stockholders' deficit. STEELHOMES MODULAR: To Sell Modular Home Biz to SH Modular ---------------------------------------------------------- Steelhomes Modular Corp. and Steelhomes LLC seek approval from the U.S. Bankruptcy Court for the Southern District of Florida, Miami Division, to sell substantially all Assets, free and clear of liens, claims, interests, and encumbrances. Steelhomes LLC is a limited liability company created under the laws of the State of Florida on November 1, 2014. Steelhomes Modular Corp. is a corporation created under the laws of the State of Florida on January 6, 2020. Both of the above companies have operated the business of the Debtors, which is the sale and construction of modular homes. So far as the Debtors are aware, Steelhomes Modular Corp. is the only company licensed in the state of Florida to build modular homes utilizing steel instead of other materials, such as wood. The Debtors filed bankruptcy in order to conclude a sale of all or substantially all of their assets and the sale of the business as an ongoing concern. As can be seen from the foregoing and the Debtors' schedules and other documents the Debtors have been facing and are currently facing numerous lawsuits and other collection activities that necessitate the filing of Chapter 11 and a sale of assets. The Debtors have received a proposal from SH Modular Corp., which as the Court is aware is the Debtors’ postpetition DIP financing lender. SH Modular proposes to pay $500,000.00 for the following: a. All tangible personal property of the Debtor, including but not limited to machinery, equipment, tools, and inventory located at the Opa-Locka facility; b. All intellectual property, trademarks, designs, plans, engineering data, and software; c. All contracts, customer lists, supplier relationships, and purchase orders, subject to Buyer's approval, including those contracts listed on Schedule G that Steelhomes Modular Corp. filed; d. All licenses, permits, and approvals transferable under applicable law, including the license with the State of Florida to manufacture modular homes with steel, which the Debtors understand is transferable; e. All domain names, branding, and marketing materials; and f. All goodwill, going concern value, and employee relationships associated with operations. SH Modular will pay the Purchase Price by a) credit bid on the actual amount paid to the Debtor from debtor-in-possession financing facility that the Court previously approved; and b) paying cash for any amount above the financing credit to be paid at closing. The Debtors have received preliminary interest from other potential purchasers. The Debtors will provide a copy of this Motion to anyone who has contacted the Debtors to date and will provide copies of any requested documents. Given that the transaction is a simple cash transaction and under the circumstances of the case the Debtors have foregone the recent custom of first obtaining a bid procedures order. The Debtors are in the process of drafting and finalizing a proposed asset purchase agreement and will file same with the Court. Should any interested purchasers wish to submit their own asset purchase agreement the Debtors will certainly consider same. The Debtors seek to conduct a fair and transparent sale process pursuant to which the winning purchaser will enter into an agreement for the purchase of the above referenced assets, free and clear of all liens, claims, encumbrances, and interests with such liens, claims, encumbrances, and interests attaching to the sales proceeds. The Debtors are not in a position to continue operations past November 12. The Debtor's estimate their monthly operating expenses for rent, payroll, insurance, utilities and the like are approximately $250,000.00 per month. Given the lack of funds available to continue operations, the Debtors assert that it is in the best interest of creditors and the estate for the Debtors to conclude a sale as expeditiously as possible so that the maximum value of the Debtor's ongoing operations can be preserved. Approximately eight months ago Debtor Steelhomes Modular Corp. negotiated a Stock Purchase Agreement with Torres Librati Capital, LLC (TLC) wherein TLC intended to purchase certain shares of Steelhomes Modular Corp. TLC ultimately did not go forward with the stock purchase, but has loaned funds to Steelhomes Modular Corp. As part of the purchase transaction with TLC, the Debtor borrowed certain funds from Cash Cow Capital, LLC and Seglo Capital. Simon Librati is a principal of TLC or its affiliates. Seglo Capital is a partner in SH Modular, which is an affiliate of or related to TLC, Cash Cow, and Modular Enterprises. The Debtors assert that none of the foregoing should prevent the Court from approving a sale to SH Modular as an arms-length transaction. The sale procedure is set up so that the Debtor may entertain higher or better offers. The Debtors recognize their obligation to obtain the highest and best price for the assets, and will endeavor to contact other potential purchasers and attempt to generate interest in making offers for the assets. The Debtors therefore request the Court approve the sale to SH Modular on the terms set forth herein, or to the highest and best offer the Debtors receive in their business judgment prior to or at the sale hearing. About Steelhomes Modular Corp. Steelhomes Modular Corp. and affiliate, SteelHomes LLC, based in Opa-locka, Florida, design and manufacture modular steel-frame homes and structures, providing customizable floor plans for residential, commercial, and emergency housing applications. Steelhomes Modular Corp. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Lead Case No. 25-21834) on October 7, 2025. In its petition, the Debtor reports total sssets of $396,333 and total liabilities of $5,636,160. Honorable Bankruptcy Judge Laurel M. Isicoff handles the case. The Debtor is represented by Robert Reynolds, Esq. of LAW OFFICES OF ROBERT F. REYNOLDS, P.A. STEELTOWN RESTAURANT: Seeks Chapter 7 in Pennsylvania ----------------------------------------------------- Steeltown Restaurants Inc. filed a voluntary Chapter 7 bankruptcy petition in the U.S. Bankruptcy Court for the Western District of Pennsylvania on October 21, 2025. According to the filing, the company listed liabilities valued between $100,001 and $1 million and reported having between 1 and 49 creditors. About Steeltown Restaurants Inc. Steeltown Restaurants Inc. operates in the restaurants industry. Steeltown Restaurants Inc. sought relief under Chapter 7 of the U.S. Bankruptcy Code (Bankr. W.D. Pa. Case No. 25-22822) on October 21, 2025. In its petition, the Debtor reports estimated assets and liabilities between $100,001 and $1 million each. Honorable Bankruptcy Judge Carlota M. Bohm handles the case. The Debtor is represented by Kenneth Steidl, Esq., of Steidl & Steinberg. SUPRA NATIONAL: Shipping Company Seeks Chapter 11 Bankruptcy ------------------------------------------------------------ Daniel Kline of The Street reports that the trucking and shipping sector faces persistent challenges despite a shortage of drivers. Fierce competition and thin margins have driven some carriers into Chapter 11 bankruptcy, even as freight demand remains steady. Andy Owens, president of A&M Transport, told NJBIA on October 26, 2025 that the industry is enduring the third consecutive year of a freight recession. "Operating costs climbed to their highest ever at the same time that freight pricing has bottomed out," he said. Supra National Express filed for Chapter 11 on October 28, 2025, in the Central District of California bankruptcy court. The company has not yet released a financial plan detailing how it intends to restructure under bankruptcy protection, the report states. About Supra National Express Supra National Express provides logistics and transportation services, including drayage, warehousing, and international freight, operating primarily from Long Beach and Carson, California, near the Ports of Los Angeles and Long Beach. The Company maintains a fleet of specialized equipment and is licensed as a Non-Vessel Operating Common Carrier (NVOCC), offering technology solutions for transportation management. Supra National Express sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Cal. Case No. 25-19576) on October 28, 2025. In its petition, the Debtor reports estimated assets between $1 million and $10 million and estimated liabilities between $10 million and $50 million. Honorable Bankruptcy Judge Neil W. Bason handles the case. The Debtor is represented by Ron Bender, Esq. of LEVENE, NEALE, BENDER, YOO & GOLUBCHIK L.L.P. SWAHILI VILLAGE NEWARK: Case Summary & 20 Top Unsecured Creditors ----------------------------------------------------------------- Debtor: Swahili Village Newark, LLC FDBA Swahili Village OTS, LLC 2 Center Street, Newark, NJ 07102 Case No.: 1:25-bk-00503 Business Description: Swahili Village Newark, LLC operates a location of the Swahili Village restaurant chain at 2 Center Street in Newark, New Jersey. The Company is part of a U.S.-based hospitality group founded by Kevin Onyona that runs multiple East African cuisine restaurants across several states. It provides fine-dining experiences and cultural event space while maintaining operations within the broader Swahili Village brand. Chapter 11 Petition Date: October 31, 2025 Court: United States Bankruptcy Court District of Columbia Judge: Hon. Elizabeth L. Gunn Debtor's Counsel: Craig M. Palik, Esq. MCNAMEE HOSEA, P.A. 6404 Ivy Lane, Suite 820 Greenbelt, MD 20770 Tel: (301) 441-2420 Email: cpalik@mhlawyers.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Kevin Onyona as owner. A full-text copy of the petition, which includes a list of the Debtor's 20 largest unsecured creditors, is available for free at PacerMonitor.com at https://urlcurt.com/u?l=NHaDXy TAPS RANCH II: Gets Interim OK to Use Cash Collateral ----------------------------------------------------- TAPS Ranch II, LLC received interim approval from the U.S. Bankruptcy Court for the Southern District of Texas, Houston Division, to use cash collateral. The court's interim order authorized the Debtor to use cash collateral (which consists of lease revenue) to pay the expenses listed in its 90-day budget in the following priority order: (i) Subchapter V trustee fees, (ii) mortgage P&I, (iii) adequate protection, and (iv) appraisal fees. The budget shows total operational expenses of $13,378 for October, $9,178 for November and $6,378 for December. As adequate protection, secured creditors including Shelby Savings Bank, SSB and local taxing authorities retain their pre-bankruptcy liens on and security interests in post-petition cash collateral and the proceeds thereof. The Debtor must keep all collateral insured, provide lenders with financial reconciliations and policy copies upon request, and maintain collateral free of new liens except as permitted by law. A final hearing is scheduled for November 17. Shelby Savings Bank is represented by: James W. King, Esq. Offerman & King, L.L.P. 6420 Wellington Place Beaumont, TX 77706 Phone: (409) 860-9000 Fax: (409) 860-9199 jwk@offermanking.com About TAPS Ranch II LLC TAPS Ranch II, LLC filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Tex. Case No. 25-34509) on August 4, 2025, listing between $1 million and $10 million in both assets and liabilities. Judge Jeffrey P Norman presides over the case. Reese W Baker, Esq., at Baker & Associates represents the Debtor as legal counsel. TEHUM CARE: Exhibit C Claimants Bound by Releases Under Plan ------------------------------------------------------------ Judge Christopher M. Lopez of the United States Bankruptcy Court for the Southern District of Texas partially grants and partially denies the motion of CHS TX, Inc. d/b/a YesCare to enjoin certain parties from litigating against YesCare and related parties based on the third-party releases approved under Tehum Care Services Inc.'s confirmed Joint Chapter 11 Plan. In March 2025, the Court entered an order confirming the Plan. The Plan incorporated a settlement agreement between Tehum, YesCare and certain of its affiliates -- YesCare Parties -- the Official Committee of Tort Claimants, and the Official Committee of Unsecured Creditors. The settlement resolved, among other things, Tehum's estate causes of action against YesCare Parties about a Texas divisional merger and related acts. In exchange, YesCare Parties agreed to pay $50 million. The funds were split evenly between a personal injury and/or wrongful death trust and a general unsecured claim trust. The Plan also provided for consensual third-party releases between, among others, YesCare Parties and personal injury and/or wrongful death claimants. YesCare seeks an order enjoining certain parties from continuing to litigate in federal and state courts against YesCare Parties. YesCare originally identified over 100 parties in chart who allegedly did not submit an Opt-Out Release Form. The chart identified parties by name, the case caption for the litigation, and the form of notice purportedly provided to each party. YesCare asserts that each listed party received sufficient notice of the consensual third-party releases in the Plan, and that the channeling injunction under the Plan bars them from prosecuting their respective lawsuits. In August 2025, the Court entered a Decision and Order on the motion. The Court granted the motion as to parties listed on an annexed Exhibit A because those parties received an Opt-Out Release Form and did not opt out of the consensual releases. The Court denied the motion as to parties listed on an annexed Exhibit B because those parties were not served an Opt-Out Release Form. The Court did not rule on parties listed on an annexed Exhibit C. Exhibit C parties were served an Opt-Out Release Form and a Notice of Non-Voting Status instead of a ballot. The Court set a separate hearing for these parties to consider additional legal considerations and made no finding or ruling about these parties. A concern was that these parties were served packages provided to unimpaired creditors under the Plan, thus not subject to the trust procedures and settlement. After conducting the additional evidentiary hearing and considering the arguments of counsel, the Court partially grants and partially denies the motion as to the Exhibit C parties. The majority of Exhibit C claimants did not object to the YesCare motion when originally filed or in connection with the second hearing for Exhibit C claimants. The Solicitation Certificate of Service provided that these parties were served with an Opt-Out Release Form. There is no evidence of any of these parties objecting to their classification or treatment under the Plan. Thus, the Court finds the consensual third-party releases enforceable against these parties. These parties are restrained and enjoined from taking any action to prosecute any causes of action for the purpose of directly, indirectly, or derivatively collecting, recovering, or receiving payment, satisfaction, or recovery from any Released Party based on released Causes of Action (as such terms are defined in the Plan). The Court finds the parties listed on Exhibit 2 are not bound by the consensual third-party releases in the Plan. A copy of the Court's Second Decision and Order dated October 29, 2025, as well as the list of claimants, is available at https://urlcurt.com/u?l=zRUcwT from PacerMonitor.com. About Tehum Care Services Tehum Care Services Inc., doing business as Corizon Health Services Inc., is a privately held prison healthcare contractor in the United States. It is based in Brentwood, Tenn. Tehum Care Services filed a petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Tex. Case No. 23-90086) on Feb. 13, 2023. In the petition filed by Russell A. Perry, as chief restructuring officer, the Debtor reported assets between $1 million and $10 million and liabilities between $10 million and $50 million. Judge Christopher M. Lopez oversees the case. The Debtor tapped Gray Reed & McGraw, LLP as bankruptcy counsel; Bradley Arant Boult Cummings, LLP, as special litigation counsel; and Ankura Consulting Group, LLC, as financial advisor. Russell A. Perry, senior managing director at Ankura, serves as the Debtor's chief restructuring officer. Kurtzman Carson Consultants, LLC, is the claims, noticing and solicitation agent. The U.S. Trustee for Region 7 appointed an official committee to represent unsecured creditors in the Debtor's Chapter 11 case. Stinson, LLP and Dundon Advisers, LLC, serve as the committee's legal counsel and financial advisor, respectively. In March 2025, the Bankruptcy Court entered an Order Confirming the Debtors' First Modified Joint Chapter 11 Plan of Reorganization. TIFARET DISCOUNT: Seeks to Extend Plan Exclusivity to Jan. 10, 2026 ------------------------------------------------------------------- Tifaret Discount Inc., d/b/a Redelicious Supermarket, asked the U.S. Bankruptcy Court for the Southern District of New York to extend its exclusivity periods to file a plan of reorganization and obtain acceptance thereof to January 10, 2026, and March 10, 2026, respectively. The Debtor holds title to certain real property located at100 Route 59, Suite 24, Monsey, New York 10952-3842 (the "Real Property"). The Debtor owns and operates a grocery store/supermarket catering to the Kosher Orthodox Jewish Community in Monsey, New York. The exclusive period for the Debtor's filing of a Plan and Disclosure Statement and for confirmation of the Plan under Section 1121 of the Bankruptcy Code is scheduled to expire on November 10, 2025, and January 10, 2025, respectively. The Debtor explains that it is entitled to the requested extension. The Debtor has hundreds of unsecured creditors holding various claims and rights, which takes time to resolve. The Debtor has, otherwise, moved expeditiously with respect to the Debtor's obligations. The Debtor has been operating the Debtor's business at a profit. The Debtor claims that it submitted all of the necessary initial filings including the Schedules and Statement of Financial Affairs and filed Monthly Operating Reports and otherwise complied with the United States Trustee's requests. The Debtor is waiting for a Bar Date Order which will enable the Debtor to determine the number of total claims. Without an understanding as to the amounts of the claims being filed by creditors and government entities, it would have been very difficult to file a Plan or Disclosure Statement. Tifaret Discount Inc. is represented by: Leo Fox, Esq. 630 Third Avenue - 18th Floor New York, NY 10018 Tel: (212) 867-9595 Email: leo@leofoxlaw.com About Tifaret Discount Inc. d/b/a Redelicious Supermarket Tifaret Discount Inc., operating as Redlicious Supermarket, a grocery retailer based in Monsey, New York. Tifaret Discount Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Case No. 25-22623) on July 9, 2025. In its petition, the Debtor estimated assets between $100,000 and $500,000 and liabilities between $1 million and $10 million. Honorable Bankruptcy Judge Sean H Lane handles the case. The Debtors are represented by Leo Fox, Esq. TIME OUT: To Sell Mobile Homes to MDM Capital for $6.1MM -------------------------------------------------------- John C. Bircher, III, Chapter 7 Trustee for TOPPOS, LLC, Top Park Services, LLC, Time Out Properties, LLC, Grand Valley MHP. LLC, Prairie Knolls, MHP, LLC, and Rolling Acres MHP, LLC, seeks approval from the U.S. Bankruptcy Court for the Eastern District of North Carolina, Wilmington Division, to sell Property, free and clear of liens, claims, interests, and encumbrances. TOPPOS, LLC filed a voluntary petition seeking relief under chapter 11 of the Bankruptcy Code on October 5, 2023. On April 30, 2024, the Court entered its order converting the TOPPOS Bankruptcy Case to a chapter 7 proceeding and appointing the Trustee as the Chapter 7 Trustee in the case. By order entered October 25, 2024, Trustee was appointed as Chapter 11 Trustee for the Affiliated Debtors. On February 5, 2025 the Trustee filed an application requesting that Great Neck Realty Company (GNRC) and its principal broker, Robert Tramantano be approved as broker with respect to the sale of the certain property of the Affiliated Debtors, including both the real property, personal property, and lease contracts for manufactured home units. GNRC has marketed the Affiliated Debtors’ assets to interested parties, and both GNRC and the Trustee seek approval of a private sale of certain of these assets to MDM Capital, and further, seek approval of MDM Capital as a stalking horse bidder, in the event a higher and better offer for the subject Property is obtained and closed by the Trustee. Specifically, the parties seek approval of MDM Capital's purchase of 14 specified mobile home units owned by TOPPOS, LLC, ancillary personal property, transferable licenses and rental agreements located at the three mobile home parks known as Patch Place MHC, Brittany Court MHP, and Scottsdale MHP, together with certain real property owned by Patch Place MHC, LLC, Brittany Court MHP, LLC, Scottsdale MHP, LLC, or Time Out Properties, LLC. The Debtors have executed an Asset Purchase Agreement with MDM Capital, LLC to purchase the property in the amount of $6,109,000. The Trustee and the Purchaser shall each be responsible for its own attorneys' fees incurred in connection with the Purchase Agreement, the Bankruptcy Case and the transactions or other matters contemplated hereby or thereby. The Trustee has negotiated a carve-out for the estate equal to approximately 14.9% of the proposed purchase price, with a minimum of $5.2 million to be paid to the secured lender Green State Credit Union. That carve-out shall be used to pay the commission of Great Neck as well as the Trustee with the remaining proceeds payable to the bankruptcy estate. The Debtor represents the Purchase Agreement has been negotiated in good faith and at arms-length, and the procedures set forth herein are fair and reasonable while recognizing the opportunity for competing offers or bids for the Property, thereby providing the greatest potential to maximize value to the estate. The Trustee proposes that the offer from MDM Capital shall be the Stalking Horse Offer. Parties interested in outbidding the present Stalking Horse Offer may request access to the Due Diligence Materials by email sent to the rtramantano@greatneckrealtyco.com, and the Broker shall deliver the Due Diligence Materials in a timely manner. Bids on the Property will be due to Great Neck by the Bid Deadline, ten days from Court entry of an order approving this motion. Bids should be signed by the bidding party and submitted by e-mail to: Robert J. Tramantano: rtramantano@greatneckrealtyco.com. Bidders should contact Great Neck for a form asset purchase agreement, Great Neck will transmit all bids in confidence to counsel for the lenders holding a valid, perfected lien on the Property and the Bankruptcy Administrator. In the event at least one Qualified Overbid is made by the Bid Deadline, then Broker, on behalf of the Trustee, shall send notice via email to the Stalking Horse Bidder and those that have submitted a Qualified Overbid of the highest Qualified Overbid received by the Broker. If at least one Competing Bidder timely submits a Highest and Best Bid, if the highest Bid is less than 102% of the bid with the next greatest purchase price, then the Broker shall email a notice to that effect to the top two Competing Bidders OR all those Competing Bidders that may be within two percent of the highest Bid, which bidders shall have one final opportunity to submit a higher offer to the Broker within three business days of receiving such an email from the Broker. The Trustee and the bidders shall each be responsible for their own attorneys' fees incurred in connection with the sale. The Trustee, believes these proposed sale procedures will allow maximum flexibility when evaluating potential competing offers or bids for the Property, thereby providing the greatest potential to maximize value to the estate. Failure to close on the sale of the Property by a bidder after the bid has been accepted shall leave the nonperforming bidder with liability for breach of contract for the difference between the amount of the high bid and any future net sale proceeds received on the actual sale of the property, plus such other claims and causes of action as may be available under North Carolina and Federal law. The Trustee seeks the Court's approval of MDM Capital as a Stalking Horse Bidder. While the Debtor has proposed, by way of this Motion, that the proposed private sale is in the best interests of the estate, he believes that the decision to approve MDM Capital as a Stalking Horse Bidder was integral to obtaining the executed Purchase Agreement and encouraging MDM Capital to engage in substantial due diligence in advance of its execution of the Purchase Agreement. In exchange for the Trustee’s acceptance of MDM Capital's offer, the Trustee has offered a break-up fee equal to 2.5% of the offer in the event MDM Capital is ultimately not the successful bidder as a result of a higher and better offer obtained by the Trustee prior to approval of the Purchase Agreement. The proposed break-up fee of 2.5% of the Stalking Horse Bid would be paid from the sales proceeds shortly after closing in the event Stalking Horse Bidder is not the Successful Bidder, and given that a competing offer must exceed the Stalking Horse Bid by not less than five percent is a reasonable and appropriate amount in relation to the eventual Purchase Price. Such break-up fee would compensate the Stalking Horse Bidder for its time and professional fees and expenses incurred in the Stalking Horse Bid and conducting the necessary due diligence to serve as the stalking horse, as well as for its time and energy expended as a result of the attempted acquisition of the Property. The lienholders of the Property are Northpoint Commercial Finance, LLC; M&T Realty Capital Corporation, CHC TN, LLC; 21st Mortgage Corporation; Green State Credit Union; and any other creditor holding lien on post-petition lien on bankruptcy estate assets. About Toppos LLC Toppos LLC is primarily engaged in acting as lessors of buildings used as residences or dwellings. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. N.C. Case No. 23-02889) on October 5, 2023. In the petition signed by Neil Carmichael Bender, II, member-manager, the Debtor disclosed up to $50 million in assets and up to $100 million in liabilities. Judge Pamela W. Mcafee oversees the case. Blake Y. Boyette, Esq., at Buckmiller, Boyette & Frost, PLLC, represents the Debtor as legal counsel. TRUTANKLESS INC: Reports $1.24 Million Net Loss in Fiscal Q2 ------------------------------------------------------------ Trutankless, Inc. filed with the U.S. Securities and Exchange Commission its Quarterly Report on Form 10-Q reporting a net loss of $1.24 million and $1.08 million for the three months ended June 30, 2025 and 2024, respectively. For the six months ended June 30, 2025 and 2024, the Company reported a net loss of $2.84 million and $1.49 million, respectively. As of June 30, 2025, the Company had an accumulated deficit of $79.94 million. Net sales for the three months ended June 30, 2025 and 2024, were $94,454 and $11,584, respectively. For the sic months ended June 30, 2025 and 2024, the Company had net sales of $524,541 and $11,584, respectively. As of June 30, 2025, the Company had $3.63 million in total assets, $12.06 million in total liabilities, and $8.43 million in total stockholders' deficit. A full-text copy of the Company's Form 10-Q is available at: https://tinyurl.com/mrxx2zfr About Trutankless, Inc. Trutankless, Inc. is involved in sales, marketing, research and development of a high quality, whole-house, smart electric tankless water heater that is more energy efficient than conventional products. Management anticipates the Company's trutankless water heater, with Wi-Fi capability and Trutankless' proprietary apps offered in the iOS and Android store, will augment existing products in the home automation space. Houston, Texas-based Victor Mokuolu, CPA PLLC, the Company's auditor since 2004, issued a "going concern" qualification in its report dated August 27, 2025, attached to the Company's Annual Report on Form 10-K for the year ended December 31, 2024, citing that as of December 31, 2024, and December 31, 2023 (restated), the Company had an accumulated deficit of $77,101,969, and $66,915,867 respectively. The Company has not established sufficient revenue to cover its operating costs for the next 12 months. These factors raise substantial doubt about its ability to continue as a going concern. The Company's ability to continue as a going concern is dependent on the Company's ability to generate revenues and raise capital. TURNONGREEN INC: Steven Caspi and SJC Lending Holds 8.6% Stake -------------------------------------------------------------- Steven Caspi and SJC Lending, LLC, disclosed in a Schedule 13D (Amendment No. 2) filed with the U.S. Securities and Exchange Commission that as of October 29, 2025, they beneficially own 15,847,507 shares of common stock, consisting of shared voting and dispositive power as the manager of SJC Lending, of TurnOnGreen, Inc.'s common stock, $0.001 par value, representing approximately 8.6% of the class based on 183,983,122 shares outstanding as of August 11, 2025. Steven Caspi may be reached through: Kenneth Schlesinger, Esq. Olshan Frome Wolosky LLP 1325 Avenue of the Americas New York, NY 10019 Tel: 212-451-2300 A full-text copy of Steven Caspi's SEC report is available at: https://tinyurl.com/yx6au7rz About TurnOnGreen Inc. TurnOnGreen, Inc. (formerly known as Imperalis Holding Corp.), a Nevada corporation, through its wholly owned subsidiaries Digital Power Corporation and TOG Technologies Inc., is engaged in the design, development, manufacture, and sale of highly engineered, feature-rich, high-grade power conversion and power system solutions for mission-critical applications and processes. New York, N.Y.-based Marcum LLP, the Company's auditor since 2021, issued a "going concern" qualification in its report dated April 23, 2025, attached to the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2024, citing that the Company has a significant working capital deficiency, has incurred significant losses and needs to raise additional funds to meet its obligations and sustain its operations. These conditions raise substantial doubt about the Company's ability to continue as a going concern. As of June 30, 2025, the Company had $2.58 million in total assets, $9.5 million in total liabilities, and $31.92 million in total equity. U.S. TELEPACIFIC: S&P Downgrades ICR to 'CCC-', Outlook Negative ---------------------------------------------------------------- S&P Global Ratings lowered its issuer credit rating on U.S. TelePacific Holdings Corp. (dba TPx) to 'CCC-' from 'CCC'. At the same time, S&P lowered the issue-level ratings on the first-lien term loan to 'CCC-' from 'CCC' and the third-lien term loan to 'C' from 'CC.' The negative outlook reflects the company's weak liquidity and the high likelihood that it will default or undertake a restructuring over the next six months. TPx has about $372 million outstanding on its first-lien senior secured term loan maturing May 2, 2026. S&P does not believe the company has sufficient liquidity to repay this debt obligation. S&P does not believe TPx can repay the outstanding balance on its first-lien senior secured term loan due May 2026. As of June 30, 2025, the company had about $33 million of cash on its balance sheet. This compares with the about $372 million outstanding on TPx's first-lien senior secured term loan due May 2, 2026, which is accruing payment-in-kind interest. S&P said, "We also forecast the company will generate break-even cash flow over the next six months. Therefore, absent a maturity extension or capital infusion, we believe TPx will likely default on this debt when it comes due." The negative outlook reflects TPx's weak liquidity and the high likelihood that it will default or undertake a restructuring over the next six months. S&P could lower its rating on TPx if: -- It is unable to fully repay, or extend the maturity of, its first-lien senior secured term loan due May 2026; or -- It pursues a transaction that we consider tantamount to a default, including a subpar exchange. S&P could raise its rating on TPx if: -- It extends the maturity of its first-lien senior secured term loan; or -- It secures alternative financing that S&P expects will provide it with a comfortable liquidity cushion over the six months. UKG INC: S&P Alters Outlook to Positive, Affirms 'B-' ICR --------------------------------------------------------- S&P Global Ratings revised its outlook on UKG Inc. to positive from stable and affirmed its 'B-' issuer credit rating and 'B-' issue-level rating on its secured debt instruments. The positive outlook reflects S&P's expectation that demand for UKG's mission-critical workforce management (WFM) solutions should be stable and margins should expand, keeping leverage below the 6x area, and it will generate over $400 million of free operating cash flow (FOCF) over the next 12 months. UKG Inc.'s credit metrics have improved over the past year on stable demand for its workforce management (WFM) solutions, improvement in cost structure, and lower nondiscretionary equity payments. S&P said, "We expect UKG to keep its leverage below the 6x area in fiscal 2026 due to improvements in operating performance and financial policy. UKG's operating performance has continued to improve over the past year. Demand for its WFM solutions has been strong, driven by strong cloud subscription revenue growth as UKG provides good value to new and existing customers in a highly competitive WFM market. We expect that strong cloud subscription growth to help UKG's revenue expand 4%-7% by year-end fiscal 2025 (ended September 2025)." UKG has also been highly focused on operational efficiency--it has spent the past few years right sizing its cost structure such that we expect it to generate EBITDA margins in the mid-30% area in fiscal 2025. This, along with the aforementioned revenue growth, should help improve its leverage to the low-5x area by year-end fiscal 2025. While UKG is owned by financial sponsor Hellman and Friedman, it has been more conservative with its financial policy than in the past. UKG has not completed any large debt-funded shareholder returns or acquisitions since September 2022. S&P said, "We believe the company will not increase leverage materially over the next year. While we expect growth to slightly slow in a tougher software environment, we expect UKG's stable EBITDA margins in the mid-30% area keep leverage below 6x in fiscal 2026." S&P said, "We expect UKG to generate FOCF to debt in the mid-single digit range in fiscal 2025 and fiscal 2026 on EBITDA margin expansion and lower nondiscretionary equity payments. Over the past three fiscal years, UKG has incurred negative FOCF from high integration and restructuring expenses and high nondiscretionary equity payments. However, many of those expenses have been declining over the past year, resulting in its EBITDA margins improving to the mid-30% area as of the third quarter of fiscal 2025 from the low-20% area 12 months ago. We expect UKG will maintain EBITDA margins in the mid-30% area in fiscal 2026 as it continues to focus on operational efficiency." UKG's nondiscretionary equity payments have also decreased significantly over the past year, boosting its operating cash flow. The company also refinanced its debt to continue to lower its interest expense. While capital requirements (capex) are still about 4% of total revenue, its improvement in EBITDA generation, operating cash flow, and interest expense should help UKG to generate more than $440 million of FOCF by year-end fiscal 2025. Due to stable demand for its WFM solutions and continued above-average technology software EBITDA margins, S&P expects the company will generate more than $530 million of FOCF in fiscal 2026. S&P said, "We still expect demand for UKG's mission-critical WFM solutions will be stable in fiscal 2026, even though we expect top-line growth to slow due to a tougher technology software market. Like other technology software companies, UKG is seeing softer-than-expected demand for its software solutions. We believe AI software investments and a tougher macroeconomic environment are delaying customers' decision-making processes as they evaluate non-AI software spend. However, we still believe UKG's WFM solutions are mission-critical to end customers as those are tied to payroll, human resources (HR), scheduling and more. "We also believe that while the WFM market is highly competitive with large competitors and potential AI risk, UKG's long track record and full suite of WFM and human capital management (HCM) products have allowed it to continue to compete such that its retention rates have remained in the mid-90% area year over year. While we expect it to face some headwinds on new and up-sell opportunities to customers, we forecast UKG's revenue will increase 2%-5% in fiscal 2026 on good subscription revenue growth. "The positive outlook reflects our expectation that demand for its mission critical WFM solutions will remain stable. We also expect its margin to expand to help keep leverage below the 6x area and for it to generate over $400 million of FOCF over the next 12 months." S&P could revise UKG's outlook to stable if: -- It sustains leverage above the 8x area due to debt-funded shareholder returns, acquisitions, or weak operating performance from competitive pressures or a tough macroeconomic environment; or -- FOCF to debt after nondiscretionary equity spending is below the mid-single-digit percent area. S&P could upgrade UKG if: -- It sustains leverage below the 8x area; and -- FOCF to debt after nondiscretionary equity spending is above the mid-single-digit percent area. UMAMAHESH LLC: Case Summary & 20 Largest Unsecured Creditors ------------------------------------------------------------ Debtor: Umamahesh, LLC dba Howard Johnson Lubbock 5108 Interstate 27 Lubbock, TX 79404 Case No.: 25-50299 Business Description: Umamahesh, LLC, doing business as Howard Johnson Lubbock, operates a hotel at 5108 Interstate 27 in Lubbock, Texas, under a franchise agreement with Wyndham Hotels & Resorts. The Company owns the property, including both the land and hotel building, which is listed in a court document with a competitive bid of $1.5 million. Chapter 11 Petition Date: October 31, 2025 Court: United States Bankruptcy Court Northern District of Texas Judge: Hon. Mark X. Mullin Debtor's Counsel: David R. Langston, Esq. MULLIN HOARD & BROWN, L.L.P. P.O. Box 2585 Lubbock, TX 79408 Tel: 806-765-7491 Fax: 806-765-0553 Email: drl@mhba.com Total Assets: $1,584,056 Total Liabilities: $3,550,961 The petition was signed by Naynaben Patel 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/KNHGZQQ/Umamahesh_LLC__txnbke-25-50299__0001.0.pdf?mcid=tGE4TAMA UNITI GROUP: S&P Withdraws 'B-' Issuer Credit Rating ---------------------------------------------------- S&P Global Ratings withdrew its 'B-' issuer credit rating on Uniti Group Inc. subsidiary Uniti Group LLC, following an organizational restructuring related to the merger of Uniti Group Inc. and Windstream Holdings II LLC. At the time of the withdrawal, S&P's outlook on the company was stable. VIB TRANS: Janice Seyedin Named Subchapter V Trustee ---------------------------------------------------- The U.S. Trustee for Region 11 appointed Janice Seyedin as Subchapter V trustee for VIB Trans, Inc. Ms. Seyedin will be paid an hourly fee of $295 for her services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Ms. Seyedin declared that she is a disinterested person according to Section 101(14) of the Bankruptcy Code. About VIB Trans Inc. VIB Trans, Inc. operates as a freight transportation company based in Illinois, providing interstate cargo hauling services across the United States. It maintains a fleet of trucks and trailers, including Volvo, Freightliner, Kenworth, Mack, and Wabash units, to move general freight for commercial clients. VIB Trans filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. N.D. Ill. Case No. 25-16602) on October 28, 2025, with $1,285,794 in assets and $3,047,598 in liabilities. Nevena Batachka, president of VIB Trans, signed the petition. Judge Jacqueline P. Cox presides over the case. David Freydin, Esq., at the Law Offices of David Freydin represents the Debtor as bankruptcy counsel. VIB TRANS: Seeks Chapter 11 Bankruptcy in Illinois -------------------------------------------------- Craig Fuller of FreightWaves reports that VIB Trans Inc., a Wood Dale, Illinois–based trucking carrier operating 29 trucks and employing 34 drivers, has sought Chapter 11 bankruptcy protection as the freight downturn continues to cripple the trucking industry. Founded in 2018, the company's filing highlights how even established small carriers are struggling to stay afloat during what experts call the "Great Freight Recession." Through Chapter 11, VIB Trans aims to restructure its debts while maintaining operations. The bankruptcy comes amid declining freight activity and widespread financial stress across the sector, with trucking volumes dropping by nearly 18% compared to the prior year. The industrial slowdown has already forced several carriers into closure or liquidation, according to report. A surge in new entrants has worsened the market imbalance. Since 2019, the issuance of over 200,000 non-domiciled CDL licenses has led to more than 310,000 new trucks joining the market. This influx has kept rates low and competition fierce, squeezing profit margins for independent and small-scale operators, the report states. Industry observers caution that the expiration of certain economic support programs, including SNAP benefits, may further reduce consumer-driven freight demand. In this climate, smaller operators like VIB Trans remain particularly vulnerable to cost pressures, limited pricing power, and shrinking volumes, the report relays. About VIB Trans Inc. VIB Trans Inc. operates as a freight transportation company based in Illinois, providing interstate cargo hauling services across the United States. The Company maintains a fleet of trucks and trailers, including Volvo, Freightliner, Kenworth, Mack, and Wabash units, to move general freight for commercial clients. VIB Trans Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 25-16602) on October 28, 2025. In its petition, the Debtor reports total assets of $1,285,794 and total liabilities of $3,047,598. Honorable Bankruptcy Judge Jacqueline P. Cox oversees the case. The Debtor is represented by David Freydin, Esq. of LAW OFFICES OF DAVID FREYDIN. VILLAGE HOMES: Fort Worth Properties Sale to Multiple Buyers OK'd ----------------------------------------------------------------- The U.S. Bankruptcy Court for the Northern District of Texas, Fort Worth Division, has approved Village Homes LP, to sell Property, free and clear of liens, claims, interests, and encumbrances. The Debtor is a Texas limited partnership formed in 1996. The Debtor's general partner is DH Management, Inc., a Texas corporation, which holds a 1% general partner interest. The Debtor has two limited partners: Michael Dike and James R. Harris. The Debtor is engaged in the construction of single-family homes, acquisition of single-family residential lots and options to acquire lots, and in the marketing and sale of the completed homes. The Debtor's properties are located in various subdivisions in Tarrant and Parker Counties, Texas. The Court has authorized the Debtor to sell Sandlin Property and the Sunset Property in accordance with the terms of the Sandlin Agreement and the Sunset Agreement, as relevant. The Sandlin Property is described in the attached Exhibit A at https://urlcurt.com/u?l=MGzaM2 and the Sunset Property is described in the attached Exhibit B at https://urlcurt.com/u?l=D4BdZc The Debtor is authorized to sell the Sandlin Property to Angela and Abundio Munoz for the sale price of $624,721. The Sandlin Property shall be sold free and clear of the liens covering the Sandlin Property only pursuant to the Sandlin DOT held by PlainsCapital Bank recorded as Instrument No. 202427177, Official Public Records, Parker County Texas. The Buyer of the Sandlin Property as identified in the Sandlin Agreement is not an "insider" of the Debtor. The Debtor is also authorized to sell the Sunset Property to Rajan S. Makanji and Pranjal M. Chokshi for the sale price of $455,000. The Sunset Property shall be sold free and clear of the liens pursuant to the Sunset DOT as to Lot 22 only, held by Simmons Bank recorded as Instrument No. D222158037, Official Public Records, Tarrant County Texas with such liens under the Sunset DOT to attach to the proceeds of sale under section 363(f)(5) and applicable non-bankruptcy law. The Buyer of the Sunset Property as identified in the Sunset Agreement is not an "insider" of the Debtor. The Buyer of the Sunset Property is purchasing the Sunset Property in good faith and is a good faith purchaser. About Village Homes for Fort Worth Village Homes for Fort Worth was established in 1996 and has grown into a trusted homebuilder in Fort Worth, Texas, known for its inspired designs and dedication to quality. With almost three decades of experience, the company has fulfilled the dreams of over 1,500 homeowners while collaborating closely with the region's top architects, craftsmen, and vendors. KC 117 LLC sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D.Tex. Case No. 25-43782-mxm) on October 1, 2025. Jeff P. Prostok at Vartabedian Hester & Haynes LLP, represents as legal counsel of the Debtor. VILLAGE HOMES: To Sell Sandpiper Property to John & Alexandra Alvis ------------------------------------------------------------------- Village Homes L.P. seeks approval from the U.S. Bankruptcy Court for the Northern District of Texas, Fort Worth Division, to sell Property, free and clear of liens, claims, interests, and encumbrances. The Debtor is a Texas limited partnership formed in 1996. The Debtor's general partner is DH Management, Inc., a Texas corporation, which holds a 1% general partner interest. The Debtor has two limited partners: Michael Dike and James R. Harris. The Debtor is engaged in the construction of single-family homes, acquisition of lots and options to acquire lots, and in the marketing and sale of the completed homes. The Debtor's properties are located in various subdivisions in Tarrant and Parker Counties, Texas. The Debtor has in its portfolio approximately 117 single family real property lots. Some of those Lots have completed Single-Family Homes on them, some have homes under construction, but the majority are vacant lots. A substantial portion of the Debtor’s business is selling pre-sale, or pre-construction, homes with a much smaller portion of business being selling completed spec homes. To finance its homebuilding operations, the Debtor maintains various credit and borrowing facilities with several financial institutions, including Veritex Bank. In October 2024, the Debtor entered into a Real Estate Sales Contract with Olerio Development, LLC. Pursuant to the Contract, the Debtor agreed to sell and Olerio agreed to purchase 100 vacant Lots, the Debtor’s name, and related intellectual property from the Debtor. Pursuant to the terms of the Contract, Olerio was required to close by the end of February 2025, but Olerio failed to close. A dispute between the parties subsequently arose and the Debtor initiated a lawsuit in the District Court of Tarrant County, Texas, seeking declaratory relief related to Olerio's default under the Contract for failing to close the transaction. Olerio responded by filing notices of lis pendens in the official real property records of Tarrant County and Parker County, Texas, clouding the titles of all vacant Lots proposed to be sold under the Contract. In addition to the Contract Lots, the Debtor owns several properties that are not subject to the Lis Pendens Veritex Lien on the Sandpiper Property, a Non-Lis Pendens Property. The Debtor entered into a contract with John and Alexandra Alvis for the sale of an already completed spec home with an address of 908 Sandpiper Drive, Aledo, Texas 76008 The Sandpiper Property is not subject to the Lis Pendens. The closing date is set for November 20, 2025. The purchase price of the Property is $632,200. Each loan agreement between the Debtor and Veritex contains an agreed upon release price formula for ascertaining the release price to be paid to Veritex at the closing of each Single-Family Home in exchange for Veritex releasing its lien on the home sold. Veritex holds a first priority lien on the Sandpiper Property, subject only to the liens securing property taxes. As such, the Debtor seeks the authority to allow the title company to pay Veritex the Release Price related to the Sandpiper Property at closing in exchange for a release of the Veritex lien on the Sandpiper Property. About Village Homes for Fort Worth Village Homes for Fort Worth was established in 1996 and has grown into a trusted homebuilder in Fort Worth, Texas, known for its inspired designs and dedication to quality. With almost three decades of experience, the company has fulfilled the dreams of over 1,500 homeowners while collaborating closely with the region's top architects, craftsmen, and vendors. KC 117 LLC sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D.Tex. Case No. 25-43782-mxm) on October 1, 2025. Jeff P. Prostok at Vartabedian Hester & Haynes LLP, represents as legal counsel of the Debtor. VIVAKOR INC: VST Launches $24MM Crude Oil Trade in Permian Basin ---------------------------------------------------------------- Vivakor, Inc. said its commodities trading platform, Vivakor Supply & Trading, in cooperation with its financing wholesaler, initiated on October 30, 2025, its first major commodity transaction. VST's commodities operations are responsible for arranging transportation, logistics, and gathering operations for commodities purchased, as well as coordinating their sale to prospective buyers. The platform expects to leverage Vivakor's midstream logistics capabilities, including its trucking fleet, network of crude oil stations and terminal facilities, and its gathering pipeline asset to optimize efficiency and market reach. This first major transaction allows VST to commence active crude oil marketing operations in the Permian Basin, utilizing the Company's trucking, tank storage, pipeline injection stations, and other midstream assets as an integrated service platform. The trading platform is expected to generate meaningful revenue contributions as volumes scale under long-term operational and credit facilities. Consistent with standard crude oil trade transactions, VST is expected to recognize approximately 1% of the contract value. Vivakor Chairman, President and CEO James Ballengee commented: "The execution of Vivakor Supply & Trading's first major $24 million crude oil transaction marks an important inflection point for our company. This milestone validates our strategy to integrate trading with our logistics and midstream assets, enhancing our ability to manage supply flows and capture additional value across the crude oil chain. It also reflects the growing confidence of our partners in Vivakor's disciplined, asset-backed approach to growth." About Vivakor, Inc. Vivakor, Inc. provides transportation, storage, reuse, and remediation services for crude oil and petroleum byproducts. The Company operates facilities under long-term contracts to support these services and manages energy-related assets, properties, and technologies. Vivakor reported total assets of $244.54 million, total liabilities of $146.5 million, and total stockholders' equity of $98.04 million as of June 30, 2025. The Company has historically suffered net losses and cumulative negative cash flows from operations, and as of June 30, 2025, it had an accumulated deficit of approximately $112.1 million. As of June 30, 2025 and Dec. 31, 2024, Vivakor had a working capital deficit of approximately $105.8 million and $101.5 million, respectively. As of June 30, 2025, the Company had cash of approximately $3.7 million, of which $3.2 million is restricted cash. In addition, the Company has obligations to pay approximately $74 million of debt within one year of the issuance of the financial statements. In its audit report dated April 15, 2025, Urish Popeck & Co., LLC issued a "going concern" qualification citing that the Company has a significant working capital deficiency, suffered significant recurring losses from operations, 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. VON ROHR: Case Summary & 20 Largest Unsecured Creditors ------------------------------------------------------- Debtor: Von Rohr Equipment Corp. 2 New Street East Orange, NJ 07017 Case No.: 25-21662 Business Description: Von Rohr Equipment Corp., headquartered at 2 New Main St., East Orange, New Jersey, supplies industrial and construction tools and equipment from a 150,000-square-foot warehouse. Founded in 1953 in Montclair, New Jersey, the Company relocated through Bloomfield before moving to East Orange in 2000, offering product sales, rentals, job- site delivery, and authorized warranty repair services throughout the tri-state area. The Company, led by President John Cancelliere, employs staff who are members of IBEW Local 3 and maintains inside and outside sales teams with a delivery fleet. Chapter 11 Petition Date: October 31, 2025 Court: United States Bankruptcy Court District of New Jersey Judge: Hon. Stacey L. Meisel Debtor's Counsel: Anthony Sodono, III, Esq. MCMANIMON, SCOTLAND & BAUMANN, LLC 75 Livingston Avenue, Suite 201 Roseland, NJ 07068 Tel: 973-622-1800 Fax: 973-712-1463 Email: asodono@msbnj.com Estimated Assets: $10 million to $50 million Estimated Liabilities: $1 million to $10 million John Cancelliere signed the petition as president and sole shareholder. A full-text copy of the petition is available for free at PacerMonitor.com at https://urlcurt.com/u?l=iQSQ2S List of Debtor's 20 Largest Unsecured Creditors: Entity Nature of Claim Claim Amount 1. Berkey, Nicholas J. $2,644,375 2130 Denk Court Union, NJ 07083 2. New York State $1,000,000 Division of Taxation 328 State Street Schenectady, NY 12305 3. Bozzo, Ronald V. $717,400 64 Salem Road Township of Washington, NJ 07676 4. Everywhere Card $512,000 Card Services PO Box 31112 Tampa, FL 33631-3112 5. Ridge Tool Co. Trade Debt $317,953 400 Clark Street Elyria, OH 44035 6. Stanley Black & Decker Trade Debt $240,705 Attn: Bankruptcy Notices 1000 Stanley Drive New Britain, CT 06053 7. Kluger Healey, LLC Services $170,392 521 Newman Springs Road, Ste. 23 Lincroft, NJ 07738 8. Greenlee Tools Trade Debt $130,521 4455 Boeing Drive Rockford, IL 61109 9. New Jersey Division $100,000 of Taxation Compliance/Enforcement - Bankruptcy Unit 3 John Fitch Way, 5th Fl. Trenton, NJ 08695-0245 10. NJ EZ Pass Tolls $75,000 Attn: Bankruptcy/Legal Dept. 375 McCarter Highway Newark, NJ 07114 11. Apex Group Trade Debt $71,832 14600 York Road, Ste. A Sparks Glencoe, MD 21152 12. General Work Products Trade Debt $70,695 6000 Jefferson Highway New Orleans, LA 70123 13. Capital Hardware Supply Trade Debt $70,479 606 Coney Island Avenue Brooklyn, NY 11218 14. Aetna Life $69,893 151 Farmington Avenue Hartford, CT 06156 15. Louisville Ladder Trade Debt $62,209 7765 National Turnpike Louisville, KY 40214 16. CitiCard Costco Credit Card $60,000 Attn: Bankruptcy Notices 388 Greenwich Street New York, NY 10013 17. Home Depot Trade Debt $52,000 2455 Paces Ferry Road, NW Atlanta, GA 30339 18. Pro Line Products Trade Debt $44,815 11624 Columbia Center Dr., Ste. 100 Dallas, TX 75229 19. Indusco Wire Rope Trade Debt $44,531 1253 Naperville Drive Romeoville, IL 60446 20. World and Main, LLC $42,824 324 Half Acre Road, Unit A Cranbury, NJ 08512 VSM PROPERTIES: Tellico Plains Property Sale to Tellico Cabins OK'd ------------------------------------------------------------------- The U.S. Bankruptcy Court for the Eastern District of Tennessee, Northern Division, has approved VSM Properties LLC to sell Property, free and clear of liens, claims, interests, and encumbrances. The Debtor's Property is located at 903 Veterans Memorial Drive, Tellico Plains, TN 37385. The Court has authorized the Debtor to sell the Property to Tellico Cabins, LLC in the purchase price of $319,000. The lien of Grassland Financial Services, LLC (GFS) is in first position and attaches to any and all proceeds of the sale up to the full amount of their payoff as of the date of such sale. GFS shall be paid in full from the proceeds of sale. The lien of Mary Jane Saunders is in second position attaches to any and all proceeds of the sale up to the full amount of their payoff as of the date of such sale, after payment of GFS, any realtor’s commissions, closing costs, and prorated property taxes, in exchange for a partial release of the Deed of Trust recorded at Book U-40, Page 230 as to the Property. The parties are required to close within 60 days of entry of the order. All closing costs, fees, realtor commissions, and prorated property taxes shall be paid at closing. Skyway Title shall send Debtor’s attorney a copy of the final settlement statement within 10- days after closing. The Debtor shall set aside sufficient funds to cover applicable U.S. Trustee fees, in the approximate amount $1,275.00. About VSM Properties LLC VSM Properties LLC owns and operates short-term rental and residential real estate in Tellico Plains, Tennessee and the surrounding area, focusing on cabin and hospitality properties. VSM Properties LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Tenn. Case No. 25-12708) on October 9, 2025. In its petition, the Debtor reports estimated assets up to $50,000 and estimated liabilities between $10 million and $50 million. Honorable Bankruptcy Judge Nicholas W. Whittenburg handles the case. The Debtor is represented by W. Thomas Bible, Jr., Esq., of TOM BIBLE LAW. WELTY SERVICES: Court Extends Cash Collateral Access to Dec. 27 --------------------------------------------------------------- Welty Services, LLC received another extension from the U.S. Bankruptcy Court for the Southern District of Texas, Galveston Division, to use cash collateral to fund operations. The court's order extended the Debtor's authority to use cash collateral pursuant to its budget through December 27, when a final hearing will be held. The Debtor may vary from the budget, on an item-by-item basis, by as much as 15% weekly for any item where spending is forecast at $2,000 or less for the week and by as much as 10% weekly for any item where spending is forecast to be more than $2,000 for the week. If its actual gross revenues exceed projected revenues, then the Debtor may apply up to 75% of the excess revenues to its costs of goods and apply up to 25% of such excess to overhead expenses. To address Third Coast Bank's objection, the Debtor will pay $3,472.80 monthly on account of the bank's two loans secured against the Debtor's real property in Angleton, Texas. In addition, the bank will be granted replacement liens on the Debtor's personal property, with the same priority, extent and validity as its pre-bankruptcy lien. Third Coast Bank claims it holds a junior security interest in the cash collateral and a senior secured deed of trust lien on the Angleton property. As of the petition date, the Debtor's cash collateral included monies in the bank of approximately $5,630 and receivables of approximately $87,411. The assets listed in the Debtor's filed schedules are valued at $2.5 million. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/Djdrc from PacerMonitor.com. Third Coast Bank is represented by: Jason T. Rodriguez, Esq. Higier Allen & Lautin, P.C. The Tower at Cityplace 2711 N. Haskell Ave., Suite 2400 Dallas, TX 75204 Telephone: (972) 716-1888 Facsimile: (972) 716-1899 jrodriguez@higierallen.com About Welty Services LLC Welty Services, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Texas Case No. 25-80315) on July 10, 2025, listing between $1 million and $10 million in assets and liabilities. The petition was signed by Donnie Welty Jr. as managing member. Judge Alfredo R. Perez oversees the case. Genevieve Marie Graham, Esq., at Genevieve Graham Law, PLLC and Steven Robert Fox, Esq., are the Debtor's legal counsel. WELTY SERVICES: To Sell Brazoria County Property to D. Weerakoon ---------------------------------------------------------------- Welty Services, LLC, d/b/a Brazoria County Truck Outfitters, d/b/a Jones And Hadley and d/b/a Mike's Paint and Body Shop seeks permission from the U.S. bankruptcy Court for the Southern District of Texas, Galveston Division, to sell Property, free and clear of liens, claims, interests, and encumbrances. The Debtor's Property commonly known as 2201 South Velasco, Hwy 288B, consists of 5 acres of unimproved land located in Brazoria County for $325,000 with the proceeds to be used to pay off debt secured by the Property and for other purposes. The Debtor operates two businesses in Brazoria County. One business is called Brazoria County Truck Outfitters, an after-market business selling truck accessories, parts such as hitches, wheels, tires, bumpers. Truck Outfitters also sells to local chemical plants and to automobile dealers. It has been in business for 14 years. The other two businesses are vehicle collision repair shops. One is called Jones and Hadley. The other shop is called Mikes Paint and Body Shop. These two shops are not separate legal entities. Beginning shortly before the chapter 11 petition was filed and continuing, the Debtor combined the two shops into one location. The shops' customers include the general public, Brazoria County and various businesses. Historically, a sizeable portion of the body shops' businesses came from insurance work. The carriers pushed down prices, argued about repairs and took months to pay. The Debtor removed itself from carriers' approved body shop lists. This means the Debtor now charges the prices it wishes instead of agreeing in advance to a carriers' reduced pricing. As for the general public, the Debtor now requires a down payment from either the carrier or the customer before work begins and the vehicle does not leave the shop until the repair bill has been paid in full. The Chapter 11 case was necessary for various reasons: a. With Covid, parts were scarce it was difficult to obtain parts and to satisfy orders. Cash flow suffered. b. In 2022, the Debtor was over-extended. It sought MCA loans. Over time, the Debtor likely borrowed $1 million from MCAs and paid most of it back. MCA loans have high up front charges and extremely high interest rates that kill business. The MCAs were taking $40,000 month until mid-2024 when monthly payments dropped to about $12,000. This also hurt cash flow and the business. c. The Debtor acquired two body repair shops in 2021 and 2022 and agreed to insurance carrier preferred pricing which meant low prices and low margins. d. The Debtor's financial reporting was another problem. The internal staff made many errors. For example, payments made toward larger debts did not hit the P&Ls. Income was overstated which increased tax liabilities. The balance sheet was not maintained well. The Debtor can reorganize for at least the following reasons: a. The Debtor has consolidated the two body shops into one site. b. The Debtor cut costs. c. The Debtor has reduced redundant services. d. The Debtor dropped its status as a preferred repair shop for carriers. This reduced business but the margin increased and charges are paid much sooner. e. The Debtor listed the raw land for sale. The Property's address is 2201 S. Velasco, Hwy. 288B, located in Brazoria County, TX, generally in the Angleton area. The property consists of 5 acres of raw land. The Property is located next door to the building where the Debtor operates its truck accessory business. The Debtor does not use the 5 acres for any income generating purpose. The purchasers are Denuka Weerakoon and Subash Kumarasinghe of Cypress, Texas. The Debtor understands the Purchasers intend to build a storage facility on the Property to supply stores they own. The Debtor understands the Purchasers have completed their due diligence including confirming with governmental agencies that they can build the intended structure. The Purchasers are not related to any insider of the Debtor. The Purchasers have no connection with the Debtor other than the transaction. The purchase price is $325,000 with $5,000 already deposited into escrow. This is an all-cash purchase with no financing. The Debtor has investigated the Purchasers' ability to perform and the Debtor is satisfied they can. The Debtor is informed that the Purchasers have submitted verified funds to escrow for the balance of the purchase price. The property is encumbered by a lien in favor of Jerry Powell with a claim that is scheduled at $76,000 but is owed $130,000. Mr. Powell has not filed a claim. The Debtor intends to deposit $50,000 into a new segregated DIP account to hold for applications for compensation by estate professionals and use the balance of the funds for operating expenses. About Welty Services LLC Welty Services, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 25-80315) on July 10, 2025, listing between $1 million and $10 million in both assets and liabilities. The petition was signed by Donnie Welty Jr. as managing member. Judge Alfredo R. Perez oversees the case. The Debtor tapped Genevieve Graham, Esq., at Graham, PLLC and Steven R. Fox, Esq., at FoxLaw Corporation Inc. as counsel. WKH LLC: Governmental Bar Date on April 21 ------------------------------------------ On October 23, 2025, WKH LLC filed Chapter 11 protection in the District of Maryland. According to court filing, the Debtor reports $1,525,000 in debt owed to 1 and 49 creditors. The government proof of claim is due by April 21, 2026. About WKH LLC WKH LLC is a single-asset real estate debtor (as defined in 11 U.S.C. Section 101(51B)). WKH LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Md. Case No. 25-19909) on October 23, 2025. In its petition, the Debtor reports total assets of $2,036,750 and total liabilities of $1,525,000. Honorable Bankruptcy Judge Michelle M. Harner handles the case. The Debtor is represented by Gary S Poretsky, Esq. of THE LAW OFFICES OF GARY S PORETSKY, LLC. WOHALI LAND: Trustee Seeks to Employ Ampleo Turnaround as Adviser ----------------------------------------------------------------- Matt McKinlay, the Chapter 11 Trustee for Wohali Land Estates, LLC, seeks approval from the U.S. Bankruptcy Court for the District of Utah to employ Ampleo Turnaround and Restructuring LLC as financial adviser in the Debtor's Chapter 11 case. Ampleo will provide these services: (a) analyze the business, assets, liabilities, and financial affairs of the Debtor and the Estate; (b) analyze the Debtor's Statements and Schedules, and value the Debtor's assets, liabilities and financial affairs as requested by the Trustee; (c) assist in the analysis, review, and monitoring of the bankruptcy process, including an assessment of the unsecured claims pool and potential recoveries for unsecured creditors; (d) assist the Trustee in securing, protecting and liquidating the Debtor's assets; (e) assist the Trustee in marketing and monetizing the Debtor's assets and evaluating whether a sale or sales of those assets is appropriate and in the best interests of the Estate; (f) assist the Trustee in investigating potential claims and causes of action against various parties; (g) advise the Trustee about the Estate's assets, and help the Trustee monetize unencumbered assets for the benefit of creditors; (h) assist the Trustee in analyzing and pursuing any proposed dispositions of assets of the Estate; (i) pursue any claims and causes of action of the Estate, including Chapter 5 avoidance claims and any state-law claims; (j) defend the Trustee and the Estate in any litigation matters which may be asserted, including defense of motions seeking relief from the automatic stay; (k) assist the Trustee in providing information to creditors and other parties in interest; (l) review, analyze, and advise the Trustee regarding fee applications or other issues involving professional compensation in the Bankruptcy Case; (m) assist the Trustee in negotiations with various creditor constituencies regarding treatment, resolution, and payment of creditor claims; and (n) perform all other necessary financial services as may be required by the needs of the Trustee in the Bankruptcy Case. Ampleo's hourly rates range from $100 to $345. The professionals expected to provide services and their standard hourly rates are: Doug Charboneau, T&R Case Manager $325 Scott Randle, T&R Transaction Advisor and Operational Support $325 Jeff Warr, Real Estate Support $345 No retainer has been provided. Ampleo will apply to the Court for the allowance of compensation and reimbursement of expenses in accordance with the Bankruptcy Code and Rules. Ampleo and its personnel are "disinterested persons" within the meaning of Sections 101(14) and 327 of the Bankruptcy Code, according to court filings. The firm can be reached at: AMPLEO TURNAROUND AND RESTRUCTURING LLC 136 E. South Temple, Suite 1400 Salt Lake City, UT 84111 Telephone: (801) 883-8200 E-mail: info@ampleo.com About Wohali Land Estates LLC Wohali Land Estates, LLC develops the Wohali master-planned community in Coalville, Utah, combining private residential neighborhoods with public-access resort amenities such as a golf course, lodge, spa, and dining facilities. The development's design integrates luxury homes and estate lots with hospitality, recreation, and infrastructure improvements including public roadways, utility systems, and environmental stabilization measures. Its operations include property maintenance and site preparation to preserve asset value and support future construction. Wohali Land Estates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Utah Case No. 25-24610) on August 8, 2025. In its petition, the Debtor reported between $100 million and $500 million in assets and liabilities. Honorable Bankruptcy Judge Peggy Hunt handles the case. The Debtor is represented by Mark C. Rose, Esq., at McKay, Burton & Thurman, P.C. WOLFSPEED INC: Claims Gas Supplier Breached Equipment Deal ---------------------------------------------------------- Abigail Harrison of Law360 Bankruptcy Authority reports that Wolfspeed Inc., a semiconductor manufacturer currently in Chapter 11, has filed a complaint in North Carolina federal court accusing a bulk gas supplier of violating a contract by failing to remove gas equipment and continuing to bill service fees. The company said the supplier’s refusal to comply has increased financial strain during its restructuring. According to the filing, Wolfspeed had reached an agreement for the supplier to suspend fees and retrieve its equipment, but those obligations were allegedly ignored. The company contends that the supplier's noncompliance has created unnecessary costs and logistical hurdles. Wolfspeed is seeking monetary damages and court enforcement of the contract terms. The dispute comes as the company continues efforts to reorganize its operations and stabilize its financial position, the report states. About Wolfspeed Inc. Wolfspeed, Inc. (NYSE:WOLF) is an innovator of wide bandgap semiconductors, focused on silicon carbide materials and devices for power applications. Its product families include silicon carbide materials and power devices targeted for various applications such as electric vehicles, fast charging and renewable energy and storage. On June 30, 2025, Wolfspeed, Inc. and Wolfspeed Texas, LLC each filed petitions seeking relief under chapter 11 of the United States Bankruptcy Code (Bankr. S.D. Tex. Lead Case No. 25-90163), with Judge Christopher M. Lopez presiding. The Debtors sought Chapter 11 protection after reaching a deal with lenders on a debt-for-equity plan that would reduce debt by $4.6 billion. Latham & Watkins LLP and Hunton Andrews Kurth LLP are serving as legal counsel to Wolfspeed, Perella Weinberg Partners is serving as financial advisor and FTI Consulting is serving as restructuring advisor. Epiq is the claims agent. Paul, Weiss, Rifkind, Wharton & Garrison LLP is serving as legal counsel to the senior secured noteholders and Moelis & Company is serving as the senior secured noteholders' financial advisor. Kirkland & Ellis LLP is serving as legal counsel to Renesas Electronics Corporation, PJT Partners is serving as its financial advisor, and BofA Securities is serving as its structuring advisor. Ropes & Gray LLP is serving as legal counsel to the convertible debtholders and Ducera Partners is serving as financial advisor to the convertible debtholders. WORKSPORT LTD: Nov. 28 SOLIS & COR Launch Targets $2.45MM Revenue ----------------------------------------------------------------- Worksport Ltd. announced on October 30, 2025, the official launch date for its flagship SOLIS(TM) Solar Tonneau Cover and COR(TM) Portable Energy Storage System -- both available for order starting November 28, 2025. A select group of early-access customers will be invited to place pre-launch orders ahead of the official date as Worksport initiates the countdown to its most anticipated product debut yet. The Worksport COR Starter Kit (Inverter + Battery) will launch at $949 with the unique ability to purchase unlimited additional batteries for truly limitless energy, while the SOLIS Solar Tonneau System will start at $1,999. The COR can be used stand-alone, but when combined with the SOLIS solar array, it forms a portable, modular nano-grid capable of delivering limitless clean renewable energy anywhere. Customers can follow the live countdown and early-access updates via the new SOLIS and COR landing pages on Worksport's website. Over the coming days, Worksport will release additional details on product specifications, performance data, consumer shipping dates, and manufacturing milestones, continuing to engage both retail consumers and investors. Worksport's initial rollout is targeted to deliver 1,000 COR units and 900 additional 1kWh battery packs, alongside a limited number of SOLIS solar tonneau covers, representing an initial revenue opportunity of approximately $2.45 million. The Company's is planning to scale rapidly, positioning Worksport to multiply production volumes throughout 2026, targeting significant additional revenue. Management believes this launch will act as a significant catalyst, transforming Worksport's clean-tech division into a high-margin, growth-driving business segment. By the end of 2026, SOLIS and COR are expected to emerge as Worksport's leading revenue contributors. Expanding Market Reach and Competitive Edge: The launch of SOLIS and COR significantly broadens Worksport's customer demographics and market footprint, introducing a unique solar-powered ecosystem that currently has no direct competition in the vehicle accessory market. Worksport's tonneau cover business has already demonstrated explosive growth -- from $1.5 million in 2023, to $8.5 million in 2024, and an expected $24 million year-end 2025 run rate, with projections to surpass $100 million run rate within two years. The introduction of SOLIS and COR extends that trajectory, integrating Worksport's proprietary solar and energy storage IP into new clean-tech revenue streams. The COR portable power system has been validated through multiple performance tests, including powering heavy industrial equipment in extreme conditions. When paired with the SOLIS solar cover, the system forms a self-sustaining, portable nano-grid -- capable of recharging faster than it discharges -- offering users clean, mobile energy without reliance on the grid. Leadership Commentary: "Our November 28 launch date marks the beginning of a new chapter for Worksport," said Steven Rossi, Chief Executive Officer of Worksport Ltd. "SOLIS and COR embody our mission to lead in practical clean energy innovation. They're not just products, they're a gateway to a new ecosystem that integrates renewable power directly into the lifestyle of truck owners, overlanders, and all clean-tech enthusiasts." Our tonneau business alone has the potential to drive Worksport into nine-figure annual revenues, while our new energy platform -- SOLIS and COR -- positions us on a credible path toward ten-figure potential and beyond," said Rossi. "It's a transformational leap that fuses technology, sustainability, and profitability across our business. Forward Outlook: Management reiterates that the commercialization of SOLIS and COR is expected to accelerate Worksport's trajectory toward profitability and establish its position as a rising U.S. clean-tech leader. This launch also represents the beginning of a much larger vision - one that Worksport plans to unveil in 2026. That framework will outline a next-generation ecosystem of clean, accessible energy for everyone: an expansion of the COR system into Powerwall-style home and commercial applications, integration with consumer electronics, and new adaptations of the COR and SOLIS for marine, recreational, construction, and trade industries. About Worksport Ltd. West Seneca, N.Y.-based Worksport Ltd., through its subsidiaries, designs, develops, manufactures, and owns intellectual property on a portfolio of tonneau cover, solar integration, portable power station, and NP (Non-Parasitic), Hydrogen-based green energy products and solutions for the automotive aftermarket accessories, power storage, residential heating, and electric vehicle-charging industries. Buffalo, N.Y.-based Lumsden & McCormick, LLP, the Company's auditor since 2022, issued a "going concern" qualification in its report dated March 27, 2025, attached to the Company's Annual Report on Form 10-K for the year ended Dec. 31, 2024, citing that the Company has suffered recurring losses from operations and has an accumulated deficit, that raise substantial doubt about its ability to continue as a going concern. The Company recorded a net loss of $16,163,789 for the year ended December 31, 2024, and has an accumulated deficit of $64,476,966 as of December 31, 2024. As of Dec. 31, 2024, the Company had $25,736,660 in total assets, $8,323,029 in total liabilities, and a total stockholders' equity of $17,413,631. [^] Recent Small-Dollar & Individual Chapter 11 Filings ------------------------------------------------------- In re Tompkins Square Distributors, Inc. Bankr. S.D.N.Y. Case No. 25-12356 Chapter 11 Petition filed October 26, 2025 See https://www.pacermonitor.com/view/MX23LKQ/Tompkins_Square_Distributors_Inc__nysbke-25-12356__0001.0.pdf?mcid=tGE4TAMA represented by: Jack Rose, Esq. LAW OFFICES OF JACK J. ROSE PLLC E-mail: jrose@jrlpllc.com In re Heritage Salvage Inc. Bankr. N.D. Calif. Case No. 25-10677 Chapter 11 Petition filed October 26, 2025 See https://www.pacermonitor.com/view/TPUIDTI/Heritage_Salvage_Inc__canbke-25-10677__0001.0.pdf?mcid=tGE4TAMA represented by: Gina R. Klump, Esq. LAW OFFICE OF GINA R. KLUMP E-mail: klumplaw@gmail.com In re Alma Improvements Corp Bankr. E.D.N.Y. Case No. 25-45165 Chapter 11 Petition filed October 27, 2025 See https://www.pacermonitor.com/view/AIFZP2A/Alma_Improvements_Corp__nyebke-25-45165__0001.0.pdf?mcid=tGE4TAMA represented by: Lawrence Morrison, Esq. MORRISON TENENBAUM PLLC E-mail: lmorrison@m-t-law.com In re Martech LLC Bankr. E.D.N.Y. Case No. 25-74140 Chapter 11 Petition filed October 27, 2025 See https://www.pacermonitor.com/view/WTWM7LI/Martech_LLC__nyebke-25-74140__0001.0.pdf?mcid=tGE4TAMA Filed Pro Se In re Hobergs Historical Association, Inc Bankr. N.D. Calif. Case No. 25-10679 Chapter 11 Petition filed October 27, 2025 See https://www.pacermonitor.com/view/WMI76YY/Hobergs_Historical_Association__canbke-25-10679__0001.0.pdf?mcid=tGE4TAMA Filed Pro Se In re Advanced Rehabilitation Clinics, Inc. Bankr. N.D. Ill. Case No. 25-16498 Chapter 11 Petition filed October 27, 2025 See https://www.pacermonitor.com/view/4ZCY7FY/Advanced_Rehabilitation_Clinics__ilnbke-25-16498__0001.0.pdf?mcid=tGE4TAMA represented by: Penelope Bach, Esq. BACH LAW OFFICES E-mail: pnbach@bachoffices.com In re Donna Lee Simmers-Dabinett Bankr. D. N.J. Case No. 25-21401 Chapter 11 Petition filed October 27, 2025 represented by: Daniel Reinganum, Esq. LAW OFFICES OF DANIEL REINGANUM Email: Daniel@ReinganumLaw.com In re Boris Dobrin and Zarina Dobrin Bankr. C.D. Calif. Case No. 25-12010 Chapter 11 Petition filed October 27, 2025 represented by: Stella Havkin, Esq. In re Eric R. Braverman Bankr. S.D.N.Y. Case No. 25-12365 Chapter 11 Petition filed October 27, 2025 In re Cory David Handlos Bankr. S.D. Iowa Case No. 25-01853 Chapter 11 Petition filed October 27, 2025 represented by: Jeffrey Goetz, Esq. In re Gental Dental of Island Lake Ltd Bankr. N.D. Ill. Case No. 25-16544 Chapter 11 Petition filed October 28, 2025 See https://www.pacermonitor.com/view/IRS5TOQ/Gental_Dental_of_Island_Lake_Ltd__ilnbke-25-16544__0001.0.pdf?mcid=tGE4TAMA represented by: James A. Young, Esq. JAMES YOUNG LAW E-mail: jyoung@jamesyounglaw.com In re BSD Hartford 99 LLC Bankr. S.D.N.Y. Case No. 25-23024 Chapter 11 Petition filed October 28, 2025 See https://www.pacermonitor.com/view/IF6TAUQ/BSD_Hartford_99_LLC__nysbke-25-23024__0001.0.pdf?mcid=tGE4TAMA represented by: Christian Martinez, Esq. THE LAW OFFICES OF CHRISTIAN MARTINEZ, PLLC In re 124 Plaza Ave Waterbury LLC Bankr. S.D.N.Y. Case No. 25-23023 Chapter 11 Petition filed October 28, 2025 See https://www.pacermonitor.com/view/5R2BLQI/124_Plaza_Ave_Waterbury_LLC__nysbke-25-23023__0001.0.pdf?mcid=tGE4TAMA represented by: Christian Martinez, Esq. THE LAW OFFICES OF CHRISTIAN MARTINEZ, PLLC In re Zara Realty 9023 Corp Bankr. E.D.N.Y. 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Utah Case No. 25-26483 Chapter 11 Petition filed October 28, 2025 In re Adrian J Johnson Bankr. D. Minn. Case No. 25-43549 Chapter 11 Petition filed October 28, 2025 In re Larry Otis Jackson, Jr. Bankr. N.D. Ill. Case No. 25-16583 Chapter 11 Petition filed October 28, 2025 See https://www.pacermonitor.com/view/PHCR4SI/Larry_Otis_Jackson_Jr__ilnbke-25-16583__0001.0.pdf?mcid=tGE4TAMA represented by: Annette Hamilton, Esq. In re JJTA13 Real Properties LLC Bankr. M.D. Fla. Case No. 25-03933 Chapter 11 Petition filed October 28, 2025 See https://www.pacermonitor.com/view/AJJ5UHI/JJTA13_Real_Properties_LLC__flmbke-25-03933__0001.0.pdf?mcid=tGE4TAMA represented by: Jeffrey S. Ainsworth, Esq. BRANSONLAW, PLLC E-mail: jeff@bransonlaw.com In re IC Business Management, LLC Bankr. S.D.N.Y. Case No. 25-12401 Chapter 11 Petition filed October 29, 2025 See https://www.pacermonitor.com/view/6WI5T4Q/IC_Business_Management_LLC__nysbke-25-12401__0001.0.pdf?mcid=tGE4TAMA Filed Pro Se In re TBN Murray Fam LLC Bankr. S.D. Tex. Case No. 25-36445 Chapter 11 Petition filed October 29, 2025 See https://www.pacermonitor.com/view/YHIHLIY/TBN_Murray_Fam_LLC__txsbke-25-36445__0001.0.pdf?mcid=tGE4TAMA Filed Pro Se In re Upgrade Salon Inc Bankr. S.D. Tex. Case No. 25-36429 Chapter 11 Petition filed October 29, 2025 See https://www.pacermonitor.com/view/KZKLDGQ/Upgrade_Salon_Inc__txsbke-25-36429__0001.0.pdf?mcid=tGE4TAMA represented by: Jason Johnson, Esq. E-mail: jason.terrel.j@gmail.com In re Pharmavision Consultants, LLC Bankr. S.D. Fla. Case No. 25-22761 Chapter 11 Petition filed October 29, 2025 See https://www.pacermonitor.com/view/2PQL43I/Pharmavision_Consultants_LLC__flsbke-25-22761__0001.0.pdf?mcid=tGE4TAMA Filed Pro Se In re Capital Monetization Management, LLC Bankr. M.D. Pa. Case No. 25-03091 Chapter 11 Petition filed October 29, 2025 See https://www.pacermonitor.com/view/P4QDZVI/Capital_Monetization_Management__pambke-25-03091__0001.0.pdf?mcid=tGE4TAMA represented by: Tullio DeLuca, Esq. LAW OFFICE OF TULLIO DELUCA E-mail: tullio.deluca@verizon.net In re Adar Foundation LLC Bankr. E.D.N.Y. Case No. 25-45225 Chapter 11 Petition filed October 29, 2025 See https://www.pacermonitor.com/view/F43TRGY/Adar_Foundation_LLC__nyebke-25-45225__0001.0.pdf?mcid=tGE4TAMA Filed Pro Se In re Michael Anthony Harry Bankr. E.D. Mo. Case No. 25-44193 Chapter 11 Petition filed October 29, 2025 Filed Pro Se In re David Scott Lanier, Sr. and Sonya L. Lanier Bankr. N.D. Fla. Case No. 25-40534 Chapter 11 Petition filed October 29, 2025 represented by: Robert Bruner, Esq. In re Kasaun Dupreme Moales Bankr. D. Conn. Case No. 25-50823 Chapter 11 Petition filed October 29, 2025 In re J.F. Liquidating Corporation Bankr. D. Maine Case No. 25-10209 Chapter 11 Petition filed October 28, 2025 See https://www.pacermonitor.com/view/BXPQXMY/JF_Liquidating_Corporation__mebke-25-10209__0001.0.pdf?mcid=tGE4TAMA Filed Pro Se In re Betty Rochelle Long Bankr. E.D. Tenn. Case No. 25-51151 Chapter 11 Petition filed October 29, 2025 In re Robert Michael Parisi, Jr. Bankr. D.N.H. Case No. 25-10755 Chapter 11 Petition filed October 29, 2025 In re Mark De Jong Bankr. N.D. Calif. Case No. 25-10690 Chapter 11 Petition filed October 28, 2025 represented by: Marc Voisenat, Esq. In re Joseph Wayne Blakeney Bankr. S.D. Miss. Case No. 25-02731 Chapter 11 Petition filed October 28, 2025 represented by: Craig Geno, Esq. In re 576 High St Middletown LLC Bankr. S.D.N.Y. Case No. 25-23002 Chapter 11 Petition filed October 20, 2025 See https://www.pacermonitor.com/view/MYA73UQ/576_HIGH_ST_MIDDLETOWN_LLC__nysbke-25-23002__0002.0.pdf?mcid=tGE4TAMA represented by: Christian Martinez, Esq. THE LAW OFFICES OF CHRISTIAN MARTINEZ, PLLC In re 60 Gaffney Waterbury, LLC Bankr. S.D.N.Y. Case No. 25-23001 Chapter 11 Petition filed October 20, 2025 See https://www.pacermonitor.com/view/M43DGXA/60_GAFFNEY_WATERBURY_LLC__nysbke-25-23001__0002.0.pdf?mcid=tGE4TAMA represented by: Christian Martinez, Esq. THE LAW OFFICES OF CHRISTIAN MARTINEZ, PLLC In re Nutini Properties LLC Bankr. W.D. Wash. Case No. 25-12894 Chapter 11 Petition filed October 17, 2025 Filed Pro Se In re Titan Group Logistics, Inc. Bankr. C.D. Calif. Case No. 25-12027 Chapter 11 Petition filed October 30, 2025 See https://www.pacermonitor.com/view/BGSP7HA/Titan_Group_Logistics_Inc__cacbke-25-12027__0001.0.pdf?mcid=tGE4TAMA represented by: Tamar Terzian, Esq. TERZIAN LAW GROUP, APC E-mail: tamar@terzlaw.com In re 1115 Halsey Project LLC Bankr. E.D.N.Y. Case No. 25-45253 Chapter 11 Petition filed October 30, 2025 See https://www.pacermonitor.com/view/7HTPWNA/1115_Halsey_Project_LLC__nyebke-25-45253__0001.0.pdf?mcid=tGE4TAMA Filed Pro Se In re Bulworks Enterprises, LLC Bankr. E.D. Mich. Case No. 25-51019 Chapter 11 Petition filed October 30, 2025 See https://www.pacermonitor.com/view/D2IPUNA/Bulworks_Enterprises_LLC__miebke-25-51019__0001.0.pdf?mcid=tGE4TAMA Filed Pro Se In re Barbara Jane Byam Bankr. E.D.N.Y. Case No. 25-45242 Chapter 11 Petition filed October 30, 2025 In re Carolina Mattai Bankr. E.D.N.Y. Case No. 25-45252 Chapter 11 Petition filed October 30, 2025 In re Best Cuppa Austin, Inc. Bankr. W.D. Tex. Case No. 25-11703 Chapter 11 Petition filed October 30, 2025 See https://www.pacermonitor.com/view/4PSOBHQ/Best_Cuppa_Austin_Inc__txwbke-25-11703__0001.0.pdf?mcid=tGE4TAMA represented by: An Nguyen, Esq. NGUYEN LAW, PLLC E-mail: an@anwinlaw.com In re Max Aaron Goldfarb Bankr. S.D. Fla. Case No. 25-22808 Chapter 11 Petition filed October 30, 2025 represented by: Diego Mendez, Esq. In re Jon Lynn Hergott and Thanh Chieu Hergott Bankr. W.D. Wash. Case No. 25-13070 Chapter 11 Petition filed October 30, 2025 represented by: Dmitry Merrit, Esq. In re Jeffrey Dean Cole Bankr. W.D. Wash. Case No. 25-13074 Chapter 11 Petition filed October 31, 2025 In re Cabal Construction, Inc. Bankr. S.D. Calif. Case No. 25-04495 Chapter 11 Petition filed October 31, 2025 See https://www.pacermonitor.com/view/YKK67XA/Cabal_Construction_Inc__casbke-25-04495__0001.0.pdf?mcid=tGE4TAMA represented by: Jason E. Turner, Esq. J TURNER LAW GROUP, APC E-mail: Jturner@jturnerlawgroup.com In re Willow Creek Manor Inc Bankr. W.D. Wash. Case No. 25-13073 Chapter 11 Petition filed October 31, 2025 See https://www.pacermonitor.com/view/35KUC6Q/Willow_Creek_Manor_Inc__wawbke-25-13073__0001.0.pdf?mcid=tGE4TAMA Filed Pro Se In re Butte Property Investment LLC Bankr. E.D. Calif. Case No. 25-26079 Chapter 11 Petition filed October 31, 2025 See https://www.pacermonitor.com/view/77LW2AQ/Butte_Property_Investment_LLC__caebke-25-26079__0001.0.pdf?mcid=tGE4TAMA represented by: JD Zink, Esq. ZINK & LENZI E-mail: jd@zinkandlenzi.com In re Iker's Promise, LLC Bankr. W.D. Tex. Case No. 25-52625 Chapter 11 Petition filed October 31, 2025 See https://www.pacermonitor.com/view/ELUWT2I/Ikers_Promise_LLC__txwbke-25-52625__0001.0.pdf?mcid=tGE4TAMA represented by: Lewis Buttles, Esq. LAW OFFICE OF LEWIS BUTTLES E-mail: lewisbuttleslaw@hotmail.com In re Morris Real Estate Soutions Bankr. W.D. Pa. Case No. 25-22958 Chapter 11 Petition filed October 31, 2025 See https://www.pacermonitor.com/view/6H5VHDY/Morris_Real_Estate_Soutions__pawbke-25-22958__0001.0.pdf?mcid=tGE4TAMA represented by: Brian C. Thompson, Esq. THOMPSON LAW GROUP, P.C. E-mail: bthompson@thompsonattorney.com In re Morici Racing Stable, LLC Bankr. S.D. Fla. Case No. 25-22997 Chapter 11 Petition filed October 31, 2025 See https://www.pacermonitor.com/view/3T77G6Y/Morici_Racing_Stable_LLC__flsbke-25-22997__0001.0.pdf?mcid=tGE4TAMA represented by: Mark S. Roher, Esq. LAW OFFICE OF MARK S. ROHER, P.A. E-mail: mroher@markroherlaw.com In re Jim H. Polles, D.M.D., P.A. Bankr. S.D. Miss. Case No. 25-02791 Chapter 11 Petition filed October 31, 2025 See https://www.pacermonitor.com/view/XD3KNQY/Jim_H_Polles_DMD_PA__mssbke-25-02791__0001.0.pdf?mcid=tGE4TAMA represented by: Craig M. Geno, Esq. LAW OFFICES OF GENO AND STEISKAL, PLLC In re RB Marketplace, Inc. Bankr. D. P.R. Case No. 25-05025 Chapter 11 Petition filed October 31, 2025 See https://www.pacermonitor.com/view/OR6Q7EY/RB_MARKETPLACE_INC__prbke-25-05025__0001.0.pdf?mcid=tGE4TAMA represented by: Juan C Bigas, Esq. JUAN C. BIGAS LAW E-mail: cortequiebra@yahoo.com In re Alejandro Andres Piedra Bankr. S.D. Fla. Case No. 25-22969 Chapter 11 Petition filed October 31, 2025 See https://www.pacermonitor.com/view/PJONJ3Y/Alejandro_Andres_Piedra__flsbke-25-22969__0001.0.pdf?mcid=tGE4TAMA Filed Pro Se In re Kenneth Kyle Moore and Karen Williams Moore Bankr. E.D.N.C. Case No. 25-04313 Chapter 11 Petition filed October 31, 2025 represented by: William Janvier, Esq. In re Morici Racing Stable, LLC Bankr. S.D. Fla. Case No. 25-22997 Chapter 11 Petition filed October 31, 2025 See https://www.pacermonitor.com/view/3T77G6Y/Morici_Racing_Stable_LLC__flsbke-25-22997__0001.0.pdf?mcid=tGE4TAMA represented by: Mark S. Roher, Esq. LAW OFFICE OF MARK S. ROHER, P.A. E-mail: mroher@markroherlaw.com In re Executive Home Administration, LLC Bankr. M.D. Fla. Case No. 25-07084 Chapter 11 Petition filed October 31, 2025 See https://www.pacermonitor.com/view/GMCEEEI/Executive_Home_Administration__flmbke-25-07084__0001.0.pdf?mcid=tGE4TAMA represented by: Ronald Cutler, Esq. RONALD CUTLER P.A. E-mail: thelawoffice@ronaldcutlerpa.com In re Gordhanbhai Patel and Naynaben Patel Bankr. N.D. Tex. Case No. 25-50300 Chapter 11 Petition filed October 31, 2025 represented by: David Langston, Esq. In re Ifeoma E Ezekwo Bankr. D. N.J. Case No. 25-21648 Chapter 11 Petition filed October 31, 2025 represented by: Bruce Levitt, Esq. In re Fabs Restaurant Group, Inc. Bankr. S.D. Fla. Case No. 25-23002 Chapter 11 Petition filed October 31, 2025 See https://www.pacermonitor.com/view/MXVTMVA/FABS_RESTAURANT_GROUP_INC__flsbke-25-23002__0001.0.pdf?mcid=tGE4TAMA represented by: Diego G. Mendez, Esq. MENDEZ LAW OFFICES E-mail: INFO@MENDEZLAWOFFICES.COM In re Jeffrey Dean Cole Bankr. W.D. Wash. Case No. 25-13074 Chapter 11 Petition filed October 31, 2025 ********* Monday's edition of the TCR delivers a list of indicative prices for bond issues that reportedly trade well below par. Prices are obtained by TCR editors from a variety of outside sources during the prior week we think are reliable. 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