260410.mbx
T R O U B L E D C O M P A N Y R E P O R T E R
Friday, April 10, 2026, Vol. 30, No. 100
Headlines
1300 DESERT: Romspen Wins Bid to Disallow Equity Funding's Claims
1364720 BC LTD: Antares PCF Marks CAD$5.5M 1L Loan at 27% Off
1364720 BC LTD: Antares PCF Marks CAD$8.9M 1L Loan at 27% Off
2159 57TH STREET: Hires Charles Wertman PC as Bankruptcy Counsel
23-74 29TH STREET: Seeks to Hire Northgate Real Estate as Broker
25 AUGUSTA: Seeks to Hire Cloud Gate Reality as Real Estate Broker
28-30 RIVERDALE: Seeks to Hire Nicholson Devine as Legal Counsel
4US CORP: Seeks Approval to Hire Gutnicki as Co-Bankruptcy Counsel
5404 BLACK ST: Seeks to Hire Rodney D. Shepherd as Legal Counsel
850 AUTO: U.S. Trustee Unable to Appoint Committee
960 MANAGEMENT: Gets Final OK to Use Cash Collateral
AAH TOPCO: Antares PCF Marks $2.9MM 1L Loan at 71% Off
ACADEMY OF VOLLEYBALL: Gets Interim OK to Use Cash Collateral
AGA REAL ESTATE: Case Summary & Four Unsecured Creditors
ALL-CITY TOWING: Seeks to Hire Axepoint Law as Special Counsel
ALPINE CORP: Seeks to Extend Plan Exclusivity to Aug. 3
AMBASSADOR VETERANS: Plan Exclusivity Period Extended to July 8
AMERICA'S LISTING: Hires Links Financial LLC as Financial Advisor
AMERICAN LANGUAGE: Hires Newpoint Advisors as Financial Advisor
AMERICAN LANGUAGE: Seeks to Tap Edelboim Lieberman as Legal Counsel
APEX SERVICE: Antares PCF Marks $660,000 1L Loan at 74% Off
APRIL MANAGEMENT: Seeks Subchapter V Bankruptcy in Ohio
APRIO ADVISORY: Antares PCF Marks $5.1M 1L Loan at 47% Off
ARAX MIDCO: Antares PCF Marks $431,000 1L Loan at 86% Off
AWP GROUP: Antares PCF Marks $320,000 1L Loan at 53% Off
AYA SERVICE 1: Secured Party Sets April 20, 2026 Auction
BAER & ASSOCIATES: Seeks to Tap Accounting & Advisory as Accountant
BC GROUP: Antares PCF Marks $7MM 1L Loan at 31% Off
BENEDICTINE UNIVERSITY: S&P Affirms 'BB' LT Rating on Revenue Bond
BERNARD L. MADOFF: Trustee Taps YTL LLP as Counsel in Hong Kong
BLACK BUFFALO: Seeks Approval to Tap Ordinary Course Professionals
BRAVO BRIO: Secures Win in Bankruptcy Clash w/ Dining Credit Co.
BREAKFAST BITCH: Initiates Chapter 11 Bankruptcy in Arizona
BRUNCH ROOM: Gets Interim OK to Use Cash Collateral Until April 30
BUBBLES & BARKS: Case Summary & Three Unsecured Creditors
BUTTERCUP BODYWEAR: Seeks to Tap Donald W. Reid as General Counsel
CALITRE LLC: Voluntary Chapter 11 Case Summary
CAN TRAIL: Seeks to Hire Tang & Associates as Bankruptcy Counsel
CASKATA INCORPORATED: Case Summary & 20 Top Unsecured Creditors
CEDAR RAIN: Seeks Chapter 7 Bankruptcy in Washington
CENTER FOR EMOTIONAL: Trustee Taps as Hendren Redwine Co-Counsel
CERITY PARTNERS: Antares PCF Marks $1.3M 1L Loan at 84% Off
CFS BRANDS: Antares PCF Marks $493,000 1L Loan at 47% Off
CHAPIN HOLDINGS: Voluntary Chapter 11 Case Summary
CHARTIS GROUP: Antares PCF Marks $387,000 1L Loan at 83% Off
CHERRY BEKAERT: Antares PCF Marks $1.1M 1L Loan at 47% Off
CHICAGO, SUBURBAN: Initiates Chapter 7 Bankruptcy in Illinois
CITY TOWERS: Seeks to Hire Charles Wertman as Bankruptcy Counsel
CLIFFORD HARTFORD: Case Summary & Three Unsecured Creditors
COLD CHAIN: Antares PCF Marks $522,000 1L Loan at 44% Off
COLIN STREET: Voluntary Chapter 11 Case Summary
CONSCIOUS CONTENT: Hires Spencer Fane as Bankruptcy Co-Counsel
CORNERSTONE WELLNESS: Hires Fernandes & Charest as Accountant
CROFT SCHOOL: Parents Urge Court to Place School in Receivership
CVP HOLDCO: Antares PCF Marks $1.7MM 1L Loan at 77% Off
DADA MOE: Seeks Chapter 11 Bankruptcy in New Jersey
DCG ACQUISITION: Antares PCF Marks $1.1MM 1L Loan at 31% Off
DE VISU: Seeks to Hire Silverman Law PLLC as Bankruptcy Counsel
DIOCESE OF BUFFALO: Court Upholds 'Opt-Out' Liability Decision
DIOCESE OF BUFFALO: Taps Century 21 Turner Brokers as Realtor
DOLPHIN SHORES: Hires Berkshire Hathaway as Real Estate Agent
DOLPHIN SHORES: Hires Cape Fear Real Estate Group as Appraiser
DOLPHIN SHORES: Hires Starheel Properties as Property Manager
DOWNTOWN GRAND: Prepares for Sale of Property in Receivership
DWYER INSTRUMENTS: Antares PCF Marks $706,000 1L Loan at 65% Off
EDDIE BAUER: Committee Taps Pachulski Stang Ziehl as Counsel
EDDIE BAUER: Committee Taps Province LLC as Financial Advisor
EDGECO BUYER: Antares PCF Marks $2.7MM 1L Loan at 16% Off
EL SALTO RANCHES: Hires Scott M. Davidson as Special Counsel
EXPRESS STORES: Gets Interim OK to Use Cash Collateral
EXTREME GROUP: Case Summary & Six Unsecured Creditors
FLINT OPCO: Antares PCF Marks $6.2MM 1L Loan at 58% Off
FLORIDA KEYS LOBSTER: Starts Chapter 11 Bankruptcy in Florida
FORESIDE FINANCIAL: Antares PCF Marks $11.6M 1L Loan at 86% Off
FR VISION: Antares PCF Virtually Writes Off $2.1MM 1L Loan
GALAXY TREE: Hires Gudeman & Associates PC as Bankruptcy Counsel
GENERAL MILLS: S&P Rates Proposed Subordinated Notes 'BB+'
GLENWOOD CAVERNS: Owner Faces Bankruptcy Venue Transfer Bid
GLUTALITY GLOBAL: Taps Advantage Collection as Debt Collector
H&S COMMERCIAL: U.S. Trustee Unable to Appoint Committee
HAMJ INVESTMENT: Case Summary & One Unsecured Creditor
HANFORD FOOD: Seeks Chapter 11 Bankruptcy in California
HEARTLAND PPC: Antares PCF Virtually Writes off $3MM 1L Loan
HEARTLAND PPC: Antares PCF Virtually Writes Off $904,000 1L Loan
HIDALGO GROUP: Case Summary & Eight Unsecured Creditors
HILLER COMPANIES: Antares PCF Marks $1M 1L Loan at 32% Off
HOPS ON MAIN: Seeks to Use Cash Collateral
HOTEL ONE PARTNERS: Hires Cherry Bekaert Advisory as Accountant
HP RSS: Antares PCF Marks $8.5-Mil. 1L Loan at 61% Off
HYPERION MATERIALS: S&P Affirms 'B-' ICR, Alters Outlook to Neg.
IMAGE DENTAL: Seeks Court Approval to Tap Anders CPA as Accountant
IMAGE DENTAL: Seeks to Hire HallerColvin as Bankruptcy Counsel
IMAGE TECHNOLOGY: Gets Interim OK to Use Cash Collateral
INNOVETIVE PETCARE: Antares PCF Marks $1.9MM 1L Loan at 68% Off
INSPIRED HEALTHCARE: Committee Hires Berkeley Research as Advisor
INSPIRED HEALTHCARE: Committee Taps Greenberg Traurig as Attorney
INTERNATIONAL SUPPORT: U.S. Trustee Unable to Appoint Committee
JAMMER LLC: Hires Gudeman & Associates Inc. as Bankruptcy Counsel
JMAY REALTY: Seeks to Tap Wilson Friery PLLC as Bankruptcy Counsel
JQ LEASING: Voluntary Chapter 11 Case Summary
KGF WORLD: Seeks Chapter 7 Bankruptcy in Texas
KOVA COMMERCIAL: Gets OK to Hire Bush Ross as Bankruptcy Counsel
KSHITIJ INC: Hires BFNSG Law Group LLP as Bankruptcy Counsel
LAW OFFICES OF TRAVIS: Seeks to Hire Brian K. McMahon as Counsel
LEARNING CARE: Antares PCF Marks $415,000 1L Loan at 16% Off
LEFKO LLC: Commences Subchapter V Bankruptcy in Florida
LEXORA INC: Voluntary Chapter 11 Case Summary
LIDO ADVISORS: Antares PCF Marks $3.5MM 1L Loan at 41% Off
LIDO ADVISORS: Antares PCF Marks $615,000 1L Loan at 50% Off
LIGADO NETWORKS: Hires Stretto Inc as Claims and Noticing Agent
LIGHTBEAM BIDCO: Antares PCF Marks $3.7MM 1L Loan at 59% Off
LOIS BUSINESS: Otis Claimants Lose Bid to File Late Claim
LOS HERMANOS: Seeks Chapter 12 Bankruptcy in California
LUCKY BUCKS: Court Narrows Claims in Trive, et al. Adversary Case
M&M CUSTARD: Seeks to Hire SC&H Group Inc. as Investment Banker
MADISON BROTHERS: Commences Chapter 11 Bankruptcy in Texas
MAJESTIC DESSERTS: Hires Lex Nova Law LLC as Bankruptcy Counsel
MAKHANI PROPERTIES: Seeks to Hire Marcus & Millichap as Broker
MARE ISLAND: Committee Taps Keller Benvenutti Kim as Legal Counsel
MARSHALL MEDICAL: Fitch Alters Outlook on 'BB+' IDR to Negative
ME DEVELOPMENT: Hires Orantes Law Firm P.C. as Bankruptcy Counsel
MICHELLE ANNE: Seeks to Hire Lane Law Firm PLLC as Legal Counsel
MICHELLE ANNE: Seeks to Tap Lisa S. Johnston, CPA as Accountant
MICHIGAN MATHEMATICS: S&P Affirms 'BB+' Rating on Revenue Bond
MISS AMERICA: Lawyer Appeals Court-Imposed $500MM Penalty
MONARCH FINCO: Antares PCF Marks $1.5MM 1L Loan at 67% Off
MOUNTAIN VISTA: Trustee Taps J.S. Held LLC as Financial Advisor
MOUNTAIN VISTA: Trustee Taps San Diego Land as Land Use Attorney
MPH RESTAURANT: Seeks to Hire Bach Law Offices as Legal Counsel
MULTI-COLOR CORP: Seeks to Hire Kirkland & Ellis as Legal Counsel
MY TOWN PROPERTIES: Commences Chapter 7 Bankruptcy in Colorado
NAS LOGISTICS: Hires Davis Ermis & Roberts as Bankruptcy Counsel
NB ELEMENT DTS: Case Summary & 20 Largest Unsecured Creditors
NELIPAK HOLDING: Antares PCF Marks $1.8MM 1L Loan at 86% Off
NELIPAK HOLDING: Antares PCF Marks $2.4MM 1L Loan at 39% Off
NGUYEN WIN: Lender Seeks to Prohibit Cash Collateral Access
NOTEPAD CRAFT: Court OKs McDonald Property Sale to Mike Erik Lewis
OLIVE BRANCH: Case Summary & Nine Unsecured Creditors
OLIVER FORREST: Files Emergency Bid to Use Cash Collateral
ONYX-FIRE PROTECTION: Antares PCF Marks CAD$2.1M 1L Loan at 95% Off
ONYX-FIRE PROTECTION: Antares PCF Marks CAD$9.1M Loan at 27% Off
OUACHITA COUNTY MEDICAL: Hires Forvis Mazars LLP as Accountant
PACKAGING COORDINATORS: Antares PCF Virtually Writes Off $2.5M Loan
PALMAS ATHLETIC: Court OKs Deal on Cash Collateral Access
PALMAS ATHLETIC: Court Says $128,000 HOA Claim Is Unsecured
PATHSTONE FAMILY: Antares PCF Marks $374,000 1L Loan at 76% Off
PHOENIX FUND: Hires BDO Consulting Group LLC as Financial Advisor
PICO-UNION HOUSING: Hires Grobstein Teeple as Financial Advisor
POLYPHASE ELEVATOR: Antares PCF's Marks $1M 1L Loan at 58% Off
POSH QUARTERS: Voluntary Chapter 11 Case Summary
POWER GRID: Antares PCF Marks $890,000 1L Loan at 90% Off
POWER LANE: Voluntary Chapter 11 Case Summary
PRESTIGE HEALTHCARE: Hires Lay Professional Services as Accountant
PSI SERVICES: Seeks to Hire WatsonRice LLP as Accountant
QUALITY AUTOMOTIVE: Antares PCF Marks $2MM 1L Loan at 94% Off
QUICK QUACK: Antares PCF Marks $3.3MM 1L Loan at 79% Off
QXO INC: S&P Raises Debt Ratings to 'BB', Off CreditWatch Positive
R & E TRUCKING: Seeks Chapter 7 Bankruptcy in Alabama
R V K INC: Case Summary & 20 Largest Unsecured Creditors
RAPID RAPID: U.S. Trustee Unable to Appoint Committee
REEL TRIMS: Gets Interim OK to Use Cash Collateral
REGAL INVESTMENT: Seeks Approval to Tap RHM Law as General Counsel
ROBLEDO BROTHERS: Seeks Chapter 12 Bankruptcy in California
ROSE RENTAL: Seeks to Sell Canton Property for $121K
RUBY TUESDAY: SCOTUS Seeks Govt's Input on Benefits Dispute
SADDI LLC: Hires Spector Gadon Rosen Vinci as Special Counsel
SAKS GLOBAL: Seeks Court OK for $5MM Executive Bonuses
SANOS LLC: Commences Chapter 11 Bankruptcy in California
SANTIN AUTO: Trustee Hires Mark Kiehne Law as Special Counsel
SCOTLAND DEVELOPMENT: Taps G. B. Baines & Associates as Accountant
SEAHAWK BIDCO: Antares PCF Marks $1.8MM 1L Loan at 21% Off
SENIOR HOME HEALTH: Seeks Cash Collateral Access
SHAYN REALTY: Taps Goldberg Weprin Finkel Goldstein as Counsel
SKILLSOFT FINANCE: Moody's Cuts CFR to 'B3', Outlook Negative
SLEEP NUMBER: Looks for Rescue Funding After Stock Drop
SORRENTO THERAPEUTICS: Ex-CEO, Jackson Walker Hit w/ RICO Lawsuit
ST ATHENA: Antares PCF Marks $590,000 1L Loan at 87% Off
STRATTO LLC: Seeks to Hire Stephen L. Burton as Bankruptcy Counsel
SUGAR PPC: Antares PCF Marks $6.7MM 1L Loan at 71% Off
SUSHI ZUSHI: Hires Transworld Business Advisors as Business Broker
TACOMA ARTS LIVE: Seeks Receivership to Stabilize Finances
TAYMAX GROUP: Antares PCF Marks $844,000 1L Loan at 79% Off
TOASTED BARREL: Section 341(a) Meeting of Creditors on April 29
TOYIN PROPERTIES: Voluntary Chapter 11 Case Summary
TRICOLOR AUTO: Judge Rules Advocate Took Fees, Misled Borrowers
TRILON GROUP: Antares PCF Marks $1.9MM 1L Loan at 73% Off
TRUCK-LITE CO: Antares PCF Marks $1.8MM 1L Loan at 61% Off
TURTLE LANE: Seeks to Hire Mark J. Lanza as Special Counsel
TZADIK SIOUX: Seeks to Hire 605 Real Estate LLC as Broker
UNION DAY SCHOOL: S&P Rates 2026 Revenue and Refunding Bonds 'BB'
UNIVISION COMMUNICATIONS: S&P Rates New $1BB Sr. Secured Notes 'B'
VERA HOLDINGS: Committee Taps McDermott Will & Schulte as Counsel
VERTEX SERVICE: Antares PCF Marks $250,000 1L Loan at 86% Off
VESSCO MIDCO: Antares PCF Marks $6.2MM 1L Loan at 68% Off
VISIONARY PLANNING: Case Summary & Eight Unsecured Creditors
VPP INTERMEDIATE: Antares PCF Marks $3.2MM 1L Loan at 61% Off
WASHINGTON INVESTMENTFIRST: Voluntary Chapter 11 Case Summary
WASHINGTON-MCLAUGLIN: Seeks to Hire Compass as Real Estate Broker
WEALTH ENHANCEMENT: Antares PCF Marks $12.1MM 1L Loan at 67% Off
WESTJET AIRLINES: Fitch Lowers LongTerm IDR to 'B-', Outlook Stable
WOHALI LAND: Appointment of Creditors Committee Sought
WORLD DEBT: Case Summary & 11 Unsecured Creditors
WST USA: Antares PCF Marks $585,000 1L Loan at 57% Off
WW INTERNATIONAL: Tara Comonte Resigns as CEO
YLG HOLDINGS: Antares PCF Marks $1.3MM 1L Loan at 41% Off
ZD SAND: Case Summary & Seven Unsecured Creditors
ZEEP INC: Bankruptcy Administrator Unable to Appoint Committee
ZONE CLIMATE: Antares PCF Marks $636,000 1L Loan at 49% Off
[] 2026 Q1 Bankruptcies Rise 14% Amid Growing Debt Pressure
[] Squire Patton Boggs Launches Sovereign Advisory Group
[] Stretto Introduces AI-Powered Bankruptcy Research Platform
*********
1300 DESERT: Romspen Wins Bid to Disallow Equity Funding's Claims
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The Hon. Philip Bentley of the U.S. Bankruptcy Court for the
Southern District of New York granted Romspen Investment, LP's
motion to disallow Equity Funding's filed and scheduled claims in
the bankruptcy case of 1300 Desert Willow Road, LLC.
The Debtor originally scheduled Equity Funding's claim as
contingent, unliquidated, and disputed. On October 20, 2025, Equity
Funding filed a proof of claim in the amount of $18 million, and it
attached to the proof of claim two documents. On February 5, 2026,
Romspen filed a motion seeking to disallow Equity Funding's filed
and scheduled claims or, alternatively, to recharacterize them as
equity. Judge Bentley finds that these two documents provide
substantial evidence that Equity Funding's claims lack merit and
should be disallowed.
Exhibit A to the proof of claim is an Amended and Restated Limited
Liability Company Agreement dated November 20, 2023, for an entity
by the name of 1300 Desert Willow Pref Eq, LLC.
Both the recitals of the LLC Agreement and its operative terms are
very relevant. The recitals state in substance that the Debtor and
Equity Funding had initially entered into a loan arrangement. The
Debtor had given a note to Equity Funding, and Equity Funding had
advanced $1.2 million prior to the execution of the LLC Agreement.
Judge Bentley explains, "The parties were clearly on record as
stating unambiguously that all monies advanced by Equity Funding
that related to the Debtor were not loans to the Debtor. Rather,
they were capital contributions to Pref Eq, which was the Debtor's
equity owner."
Equity Funding argues that Romspen lacks standing to assert this
claim objection.
The treatment of Equity Funding is a key issue under Romspen's
plan, as it was under the Debtor's plan. For example, Romspen's
plan has, as a waivable condition to the effective date, that the
Equity Funding claims be disallowed or withdrawn.
According to Judge Bentley, "Romspen has standing not just because
it is a creditor, but also because the issue before me has a very
substantial potential impact on Romspen's rights and financial
interests."
Romspen has moved in the alternative for recharacterization of
Equity Funding's claims. Judge Bentley holds, "I have found that
Equity Funding has no claims, and therefore I will not reach any of
the recharacterization issues that the parties have briefed and
argued."
A copy of the Court's Bench Decision dated April 1, 2026, is
available at https://urlcurt.com/u?l=0VQuun
Counsel for the Debtor:
H. Bruce Bronson, Jr., Esq.
BRONSON LAW OFFICES, P.C.
480 Mamaroneck Avenue
Harrison, NY 10525
E-mail: hbb@bronsonlawoffices.com
Counsel for Romspen Investment, LP:
Jarret P. Hitchings, Esq.
BRYAN CAVE LEIGHTON PAISNER LLP
One Wells Fargo Center, Suite 2150
Charlotte, NC 28202
E-mail: jarret.hitchings@bclplaw.com
Counsel for Equity Funding LLC:
Leo L. Esses, Esq.
THE ESSES LAW GROUP, LLC
445 Park Avenue, 9th Floor
New York, NY 10022
E-mail: leo@esseslaw.com
About 1300 Desert Willow Road
1300 Desert Willow Road, LLC, owns a property at 1300 Desert Willow
Road in Los Lunas, New Mexico, valued at $40 million.
1300 Desert Willow Road sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. S.D.N.Y. Case No. 25-11375) on June 22,
2025. In its petition, the Debtor reported between $10 million and
$50 million in assets and liabilities.
Judge Philip Bentley oversees the case.
The Debtor is represented by Bronson Law Offices, PC.
Romspen Investment LP, as lender, is represented by Bryan Cave
Leighton Paisner, LLP.
1364720 BC LTD: Antares PCF Marks CAD$5.5M 1L Loan at 27% Off
-------------------------------------------------------------
Antares Private Credit Fund has marked its CAD$5,586,000 loan
extended to 1364720 B.C. Ltd. to market at CAD$4,050,000 or 73% of
the outstanding amount, according to Antares PCF's 10-K for the
fiscal year ended Dec. 31, 2025, filed with the U.S. Securities and
Exchange Commission.
Antares Private Credit Fund is a participant in a First Lien
Delayed Draw Term Loan extended to 1364720 B.C. Ltd. The 1L Loan
accrues interest at a rate of C + 4.50%, 7.09% per annum. The 1L
Loan matures on Sept. 9, 2028.
Antares Private Credit Fund is a business development company that
provides private credit and financing solutions to middle-market
borrowers.
The Fund is led by Vivek Mathew as Chief Executive Officer and
President and Thomas Sweeney as Chief Financial Officer and
Principal Accounting Officer.
The Fund can be reached at:
Vivek Mathew
Antares Private Credit Fund
320 South Canal Street, Suite 4200
Chicago, IL 60606
Telephone: (312) 638-4119
About 1364720 B.C. LTD.
1364720 B.C. Ltd. operates movie theaters. The Company serves
customers in Canada.
1364720 BC LTD: Antares PCF Marks CAD$8.9M 1L Loan at 27% Off
-------------------------------------------------------------
Antares Private Credit Fund has marked its CAD$8,931,000 loan
extended to 1364720 B.C. Ltd. to market at CAD$6,475,000 or 73% of
the outstanding amount, according to Antares PCF's 10-K for the
fiscal year ended Dec. 31, 2025, filed with the U.S. Securities and
Exchange Commission.
Antares Private Credit Fund is a participant in a First Lien Term
Loan extended to 1364720 B.C. Ltd. The 1L Loan accrues interest at
a rate of C + 4.50%, 7.09% per annum. The 1L Loan matures on Sept.
9, 2028.
Antares Private Credit Fund is a business development company that
provides private credit and financing solutions to middle-market
borrowers.
The Fund is led by Vivek Mathew as Chief Executive Officer and
President and Thomas Sweeney as Chief Financial Officer and
Principal Accounting Officer.
The Fund can be reached at:
Vivek Mathew
Antares Private Credit Fund
320 South Canal Street, Suite 4200
Chicago, IL 60606
Telephone: (312) 638-4119
About 1364720 B.C. LTD.
1364720 B.C. Ltd. operates movie theaters. The Company serves
customers in Canada.
2159 57TH STREET: Hires Charles Wertman PC as Bankruptcy Counsel
----------------------------------------------------------------
2159 57th Street Unit 2 LLC seeks approval from the U.S. Bankruptcy
Court for the Eastern District of New York to hire Law Offices of
Charles Wertman, P.C. as counsel.
The firm will provide these services:
(a) provide legal advice with respect to the Debtor's powers
and duties in accordance with the provisions of the Bankruptcy
Code;
(b) prepare, on behalf of the Debtor, all necessary legal
documents required by the Bankruptcy Code and Federal Rules of
Bankruptcy Procedure;
(c) assist the Debtor in the development and implementation of
a plan of reorganization or liquidation; and
(d) perform all other legal services for the Debtor that may
be necessary in connection with this Chapter 11 case and its
attempts to reorganize its affairs under the Bankruptcy Code.
The firm will be paid at these hourly rates:
Attorneys $525
Paraprofessionals $150
In addition, the firm will seek reimbursement for expenses
incurred.
Prior to the filing date, the firm received a total retainer of
$10,500 from the Debtor.
Charles Wertman, Esq. disclosed in a court filing that his firm is
a "disinterested person" as the term is defined in Section 101(14)
of the Bankruptcy Code.
The firm can be reached through:
Charles Wertman, Esq.
Law Offices of Charles Wertman PC
100 Merrick Road, Suite 304W
Rockville Centre, NY 11570
Tel: (516) 284-0900
Email: charles@cwertmanlaw.com
About 2159 57th Street Unit 2 LLC
2159 57th Street Unit 2 LLC sought protection for relief under
Chapter 11 of the Bankruptcy Code (Bankr. E.D.N.Y. Case No.
24-45187) on December 12, 2024, listing up to $50,000 in assets and
$100,001 to $500,000 in liabilities.
Judge Jil Mazer-Marino presides over the case.
Charles Wertman, Esq. at Law Offices Of Charles Wertman P.C. serves
as the Debtor's counsel.
23-74 29TH STREET: Seeks to Hire Northgate Real Estate as Broker
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23-74 29th Street LLC seeks approval from the U.S. Bankruptcy Court
for the Eastern District of New York to employ Northgate Real
Estate Group as real estate broker.
The Debtor needs a broker to market and sell its property located
at 23-74 29th Street, Astoria, New York.
The firm will receive a commission of 4 percent of the property's
gross sale price.
Greg Corbin, a licensed real estate broker at Northgate Real Estate
Group, disclosed in a court filing that the firm is a
"disinterested person" as the term is defined in Section 101(14) of
the Bankruptcy Code.
The firm can be reached through:
Greg Corbin
Northgate Real Estate Group
1633 Broadway 46th Floor
New York, NY 10019
Telephone: (212) 369-4000
About 23-74 29th Street LLC
23-74 29th Street LLC is a single-asset real estate company that
owns and manages a residential property in Astoria, New York.
23-74 29th Street LLC sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. E.D.N.Y. Case No. 26-40033) on January 5,
2026.
At the time of the filing, the Debtor had estimated assets of
between $1,000,001 and $10 million and liabilities of between
$1,000,001 and $10 million.
Judge Jil Mazer-Marino oversees the case.
Kirby Aisner & Curley LLP is the Debtor's counsel.
25 AUGUSTA: Seeks to Hire Cloud Gate Reality as Real Estate Broker
------------------------------------------------------------------
25 Augusta, LLC seeks approval from the U.S. Bankruptcy Court for
the Northern District of Illinois to employ Cloud Gate Reality as
real estate broker.
The Debtor needs a broker to market and sell its properties located
at:
(a) 1937 N. Karlov St., Chicago;
(b) 6417 S. Honore St., Chicago;
(c) 2530 West Augusta Blvd., Chicago;
(d) 1723 N. Artesian Ave., Chicago;
(e) 1218 N. Maplewood, Chicago;
(f) 1734 N. Drake Avenue, Chicago;
(g) 1706 N. Artesian Avenue, Chicago;
(h) 2525 W. Augusta, Chicago;
(i) 1003 N. Francisco, Chicago;
(j) 4918 W. Harrison St., Chicago;
(k) 931 N. Keystone, Chicago;
(l) 5009 W. Chicago Avenue;
(m) 936 N. Pulaski, Chicago;
(n) 6722 S. Marshfield, Chicago;
(o) 215 W. 115th Street, Chicago;
(p) 137 N. Mozart, Chicago;
(q) 1312 W. 108th Street, Chicago;
(r) 6832 S. May Street, Chicago;
(s) 915 W. 54th St. Chicago;
(t) 8452 S. Saginaw St., Chicago; and
(u) 5639 S. May Street, Chicago;
The firm will receive a commission of 1 percent of the purchase
price if the 21 units successfully go under contract and
successfully close.
JC Gonzalez, a real estate agent at Cloud Gate Reality, disclosed
in a court filing that the firm is a "disinterested person" as the
term is defined in Section 101(14) of the Bankruptcy Code.
The firm can be reached through:
JC Gonzalez
Cloud Gate Reality
4635 W. 63rd St. Unit E & F
Chicago, IL 60629
Telephone: (773) 888-1220
Email: jc@cgrchicago.com
About 25 Augusta LLC
25 Augusta, LLC, a private limited-liability company, is
principally a real-estate holding entity associated with the
ownership of a multi-family residential property in the West
Town/Ukrainian Village area of Chicago, Ill.
25 Augusta, LLC filed its voluntary petition for relief under
Chapter 11 of the Bankruptcy Code (Bankr. N.D. Ill. Case No.
26-04618) on March 16, 2026, listing $1 million to $10 million in
both assets and liabilities. The petition was signed by Monserrate
Hernandez as member.
Paul M. Bach, Esq., at Bach Law Offices serves as the Debtor's
counsel.
28-30 RIVERDALE: Seeks to Hire Nicholson Devine as Legal Counsel
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28-30 Riverdale Avenue, LLC seeks approval from the U.S. Bankruptcy
Court for the District of Massachusetts to employ Nicholson Devine
LLC as counsel.
The firm's services include:
(a) advise the Debtor with respect to its rights, powers and
duties in the continued operation and management of its business;
(b) advise the Debtor with respect to any plan of
reorganization and any other matters relevant to the formulation
and negotiation of a plan or plans of reorganization in this case;
(c) represent the Debtor at all hearings and matters
pertaining to its affairs;
(d) prepare, on the Debtor's behalf, all necessary and
appropriate legal documents and review all financial and other
reports filed in this Chapter 11 case;
(e) advise the Debtor with respect to, and assist in the
negotiation and documentation of, financing agreements, debt and
cash collateral orders and related transactions;
(f) review and analyze the nature and validity of any liens
asserted against the Debtor's property and advise it concerning the
enforceability of such liens;
(g) advise the Debtor regarding its ability to initiate
actions to collect and recover property for the benefit of its
estate;
(h) advise and assist the Debtor in connection with any
potential sale of its assets;
(i) advise the Debtor concerning executory contracts and
unexpired lease assumptions, lease assignments, rejections,
restructurings and recharacterization of contracts and leases;
(j) review and analyze the claims of the Debtor's creditors,
the treatment of such claims and the preparation, filing or
prosecution of any objections to claims;
(k) commence and conduct any and all litigation necessary or
appropriate to assert rights held by the Debtor, protect assets of
its Chapter 11 estate or otherwise further the goal of completing
its successful reorganization other than with respect to matters to
which it retains special counsel; and
(l) perform all other legal services and provide all other
necessary legal advice to the Debtor which may be necessary in its
bankruptcy proceedings.
The firm will be paid at these hourly rates:
Kate Nicholson, Attorney $450
Christine Devine, Attorney $450
Associates $300 - $375
Paralegals $175
In addition, the firm will seek reimbursement for expenses
incurred.
The firm received a pre-petition retainer of $20,000 from the
Debtor.
Ms. Nicholson disclosed in a court filing that the firm is a
"disinterested person" as the term is defined in Section 101(14) of
the Bankruptcy Code.
The firm can be reached through:
Kate E. Nicholson, Esq.
Nicholson Devine LLC
21 Bishop Allen Drive
Cambridge, MA 02139
Telephone: (857) 600-0508
Email: kate@nicholsondevine.com
About 28-30 Riverdale Avenue
28-30 Riverdale Avenue, LLC is a single-asset real estate company
that owns and manages an industrial property at 28-30 Riverdale
Avenue.
The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Mass. Case No. 26-10558) on March 16,
2026. In the petition signed by Teresa Coppola-Jones, manager, the
Debtor disclosed up to $10 million in both assets and liabilities.
Kate E. Nicholson, Esq., at Nicholson Devine, LLC represents the
Debtor as counsel.
4US CORP: Seeks Approval to Hire Gutnicki as Co-Bankruptcy Counsel
------------------------------------------------------------------
4US Corp Inc. seeks approval from the U.S. Bankruptcy Court for the
Northern District of Illinois to employ Gutnicki LLP as
co-bankruptcy counsel.
The firm will render these services:
(a) negotiate with creditors;
(b) prepare a plan;
(c) examine and resolve claims filed against the estate;
(d) prepare and prosecute adversary proceedings, if any;
(e) prepare pleadings filed in the case;
(f) attend at court hearings; and
(g) otherwise represent the Debtor in matters before the
Court.
The firm will be paid at these hourly rates:
Miriam Stein Granek, Attorney $450
Other Attorneys $345 - $850
In addition, the firm will seek reimbursement for expenses
incurred.
Ms. Granek disclosed in a court filing that the firm is a
"disinterested person" as the term is defined in Section 101(14) of
the Bankruptcy Code.
The firm can be reached through:
Miriam Stein Granek, Esq.
Gutnicki LLP
4711 Golf Road, Suite 200
Skokie, IL 60076
Telephone: (847) 745-6592
Email: mgranek@gutnicki.com
About 4US Corp Inc.
4US Corp, Inc. operates as a transportation and logistics company,
providing freight hauling services through ownership of commercial
trucks and trailers, including Freightliner trucks and Wabash,
Dorsey, Mac, Fontaine, Hyundai, and Eagle trailers.
The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. N.D. Ill. Case No. 26-01936) on February 2,
2026. In the petition signed by Eli Malikovsky, president, the
Debtor disclosed $3,118,000 in total assets and $9,253,165 in total
liabilities.
Judge Timothy A. Barnes oversees the case.
The Debtor tapped David Freydin, Esq., at the Law Offices of David
Freydin and Miriam Stein Granek, Esq., at Gutnicki LLP as counsel.
5404 BLACK ST: Seeks to Hire Rodney D. Shepherd as Legal Counsel
----------------------------------------------------------------
5404 Black St. PA, LLC seeks approval from the U.S. Bankruptcy
Court for the Western District of Pennsylvania to employ Rodney D.
Shepherd, Esq., an attorney practicing in Pittsburgh, Pa., to
handle its Chapter 11 case.
The attorney will be billed at his hourly rate of $300.
The Debtor has paid the firm a retainer of $3,000 and the filing
fee of $1,738 on February 27, 2026.
Mr. Shepherd disclosed in a court filing that he is a
"disinterested person" as the term is defined in Section 101(14) of
the Bankruptcy Code.
The attorney can be reached at:
Rodney D. Shepherd, Esq.
2403 Sidney Street, Suite 208
Pittsburgh, PA 15203
Telephone: (412) 471-9670
Email: rodsheph@cs.com
About 5404 Black St. PA LLC
5404 Black St. PA, LLC sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. W.D. Pa. Case No. 26-20571) on March 1,
2026, listing up to $50,000 in assets and up to $500,000 in
liabilities.
Judge John C. Melaragno handles the case.
The Debtor is represented by Rodney D. Shepherd, Esq.
850 AUTO: U.S. Trustee Unable to Appoint Committee
--------------------------------------------------
The U.S. Trustee for Region 21, until further notice, will not
appoint an official committee of unsecured creditors in the Chapter
11 case of 850 Auto Detailing and Powerwashing, Inc., according to
court dockets.
About 850 Auto Detailing and Powerwashing
850 Auto Detailing and Powerwashing, Inc. filed Chapter 11 petition
(Bankr. N.D. Fla. Case No. 26-40149) on March 13, 2026, listing
assets of between $100,001 and $500,000 and liabilities of between
$500,001 and $1 million.
The Debtor is represented by:
Byron W. Wright III, Esq.
Bruner Wright, P.A.
2868 Remington Green Circle, Suite B
Tallahassee, FL 32308
Phone: (850) 385-0342
twright@brunerwright.com
960 MANAGEMENT: Gets Final OK to Use Cash Collateral
----------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of Texas
entered an final order granting 960 Management Investments, LLC
approval to use cash collateral.
Under the order, the Debtor is permitted to use cash collateral in
accordance with a final approved budget, with flexibility to exceed
individual line items by up to 10% as long as total spending does
not exceed the budget by more than 10%. The Debtor must also make
adequate protection payments and deposit all post-petition revenues
into designated debtor-in-possession accounts, ensuring proper
financial control and transparency.
As adequate protection, any creditor holding an allowed secured
claim with a perfected pre-petition lien on cash collateral will be
granted replacement liens on post-petition accounts receivable,
contract rights, and deposit accounts, maintaining the same
validity, extent, and priority as pre-petition liens.
These liens are subject to a carve-out for court and U.S. Trustee
fees, approved Subchapter V Trustee fees, and trustee expenses
capped at $15,000. The automatic stay is modified solely to the
limited extent necessary to implement the relief granted, including
the perfection of replacement liens.
The order preserves all rights and defenses of creditors, expressly
stating that it does not constitute an admission regarding the
validity, priority, or enforceability of any lien or claim.
The Debtor's authority to use cash collateral will automatically
terminate upon dismissal or conversion of its Chapter 11 case,
appointment of a Chapter 11 trustee, expiration of the interim
period, confirmation of a plan, or material breach of the order.
A copy of the Debtor's budget is available at
https://shorturl.at/GKh3q from PacerMonitor.com.
960 Management Investments had initially filed a cash collateral
motion in January and obtained interim approval, with a final
hearing originally scheduled for early March and later continued to
March 30. Although no written objections were filed before the
hearing, a secured creditor, NewRez LLC, appeared at the final
hearing and objected to the proposed budget, arguing that it failed
to include adequate protection payments for two additional
properties located on Thompson Street in Houston. As a result of
this objection, the court denied final approval of the cash
collateral motion without prejudice.
In response, the Debtor filed a revised budget that addresses
NewRez's concerns by including interest-only adequate protection
payments for the previously omitted properties. The Debtor said
that these payments are appropriate and sufficient because NewRez
is oversecured. Supporting this claim, the Debtor provided
appraisal values showing that the properties' market values are
higher than the associated loan balances, reinforcing that the
creditor's interests are adequately protected even with
interest-only payments.
NewRez was the only creditor to object and that all other parties
have had ample opportunity to respond but have not done so,
suggesting that no broader opposition exists.
Additionally, the Debtor highlights a potential asset sale that
could benefit the estate, noting that it has received a $960,000
purchase offer for another property, which would be sufficient to
fully satisfy the secured claim of a different creditor, Selene
Finance LP. This indicates ongoing efforts to restructure and
improve liquidity. Finally, the Debtor requests that the court
waive the standard 14-day stay on the effectiveness of orders,
arguing that immediate implementation of relief is necessary to
prevent harm to the estate and support continued operations.
A copy of the motion is available at https://urlcurt.com/u?l=Ewftvr
from PacerMonitor.com.
About 960 Management Investments
LLC
960 Management Investments, LLC owns four residential properties
located at 911, 913, 915, and 917 Thompson Street in Houston,
Texas, with a combined appraised value of approximately $3.53
million.
960 Management Investments filed a petition under Chapter 11,
Subchapter V of the Bankruptcy Code (Bankr. S.D. Tex. Case No.
26-30503) on January 27, 2026, with $3,525,000 in assets and
$2,643,750 in liabilities. The petition was signed by Michael
Gadagbul, authorized representative of Grace and Son Group LLC, the
Debtor's sole managing member.
Judge Eduardo V. Rodriguez presides over the case.
Elias Yazbeck, Esq., at The Law Office of Elias M. Yazbeck, PLLC
represents the Debtor as counsel.
AAH TOPCO: Antares PCF Marks $2.9MM 1L Loan at 71% Off
------------------------------------------------------
Antares Private Credit Fund has marked its $2,970,000 loan extended
to AAH Topco., LLC to market at $849,000 or 29% of the outstanding
amount, according to Antares PCF's 10-K for the fiscal year ended
Dec. 31, 2025, filed with the U.S. Securities and Exchange
Commission on March 19, 2026.
Antares Private Credit Fund is a participant in a First Lien
Delayed Draw Term Loan extended to AAH Topco., LLC. The 1L Loan
accrues interest at a rate of S + 5.00%, 8.77% per annum. The 1L
Loan matures on Dec. 22, 2027.
Antares Private Credit Fund is a business development company that
provides private credit and financing solutions to middle-market
borrowers.
The Fund is led by Vivek Mathew as Chief Executive Officer and
President and Thomas Sweeney as Chief Financial Officer and
Principal Accounting Officer.
The Fund can be reached at:
Vivek Mathew
Antares Private Credit Fund
320 South Canal Street, Suite 4200
Chicago, IL 60606
Telephone: (312) 638-4119
About AAH Topco., LLC
AAH Topco., LLC is a sponsor-controlled holding company that
utilizes a first lien delayed draw term loan to finance leveraged
acquisitions or corporate restructuring activities.
ACADEMY OF VOLLEYBALL: Gets Interim OK to Use Cash Collateral
-------------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of California
granted Academy of Volleyball, Inc. limited interim authority to
use cash collateral
The court authorized the Debtor's use of cash collateral through
April 16 and solely for expenses set forth in its budget.
The court required the Debtor to amend its creditor schedules and
allowed objections to continued use of cash collateral to be filed
by April 15.
A continued hearing is scheduled for April 16 where the Debtor must
address operational and financial matters, including payroll,
taxes, and insurance. The court warned that failure to comply with
the order could result in dismissal or conversion of the Debtor's
Chapter 11 to Chapter 7, or removal of the Debtor from possession.
Academy of Volleyball operates a youth volleyball club that
provides training, instruction, and competitive opportunities for
junior athletes. As a debtor-in-possession, it continues to manage
its business and asserts that access to cash collateral—funds in
which secured creditors hold a legal interest—is essential to
maintaining ordinary business operations during the reorganization
process.
The Debtor identifies numerous secured creditors with lien
interests, including government entities and private lenders, and
provides estimated claim amounts and lien priorities, with
obligations ranging from relatively tax liens to substantial
secured financing exceeding hundreds of thousands of dollars.
The Debtor's total assets are estimated at approximately $427,076,
and it proposes limited adequate protection payments—specifically
$731 per month to the U.S. Small Business Administration—while
asserting that creditors are otherwise protected by the
continuation of business operations and the granting of replacement
liens on post-petition assets.
The Debtor said that without immediate access to cash collateral,
it would be unable to pay essential operating expenses such as
payroll, rent, travel, tournament fees, utilities, and professional
costs, which are all necessary to sustain the volleyball club's
activities.
About Academy of Volleyball Inc.
Academy of Volleyball, Inc. provides youth and junior volleyball
training and competitive programs from its headquarters in West
Redwood City, California, with additional facilities in North
Burlingame. The club offers girls and boys teams, summer and winter
camps, clinics, private lessons, beach volleyball programs, and
college recruiting resources, serving athletes typically aged 10
through 18. The club's programs help athletes build technical
skills, develop mental toughness, and learn teamwork and composure
in a competitive, team-driven environment. Facilities include
multiple courts, a performance lab, and year-round practice spaces
designed to support skill advancement and athlete performance.
The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. N.D. Cal. Case No. 26-30265) on March 26,
2026. In the petition signed by Daniele Desiderio, CEO, the Debtor
disclosed $427,076 in total assets and $3,000,664 in total
liabilities.
Judge Hannah L. Blumentstiel oversees the case.
Michael Jay Berger, Esq., at LAW OFFICES OF MICHAEL JAY BERGER,
represents the Debtor as legal counsel.
AGA REAL ESTATE: Case Summary & Four Unsecured Creditors
--------------------------------------------------------
Debtor: AGA Real Estate Security, LLC
301 W. Broome St., Suite 102
Lagrange, GA 30240
Business Description: AGA Real Estate Security LLC, located in
Lagrange, Georgia, is a real estate firm
whose main asset consists of a property at
301 W. Broome St., Suite 102, and it
primarily derives its revenue from leasing
that property.
Chapter 11 Petition Date: April 5, 2026
Court: United States Bankruptcy Court
Northern District of Georgia
Case No.: 26-10552
Judge: Hon. Paul Baisier
Debtor's Counsel: Brad Fallon, Esq.
FALLON LAW PC
1201 W. Peachtree St. NW, Suite 2625
Atlanta, GA 30309
Tel: (404) 849-2199
E-mail: brad@fallonbusinesslaw.com
Estimated Assets: $10 million to $50 million
Estimated Liabilities: $10 million to $50 million
The petition was signed by Jacquelyn Fletcher as manager.
A full-text copy of the petition is available for free on
PacerMonitor at:
https://www.pacermonitor.com/view/RVSOT4A/AGA_Real_Estate_Security_LLC__ganbke-26-10552__0001.0.pdf?mcid=tGE4TAMA
List of Debtor's 10 Unsecured Creditors:
Entity Nature of Claim Claim Amount
1. Bitty Advance $47,740
1855 Griffin Road,
Suite A474
Dania, FL 33004
2. Everest Business Funding $95,005
102 W 38th Street
6th Floor
New York, NY 10018
3. Mantis Funding, LLC $37,500
64 Beaver Street,
Suite 344
New York, NY 10004
4. Omega Debt Recovery $11,000
420 Central Avenue
Cedarhurst, NY 11516
ALL-CITY TOWING: Seeks to Hire Axepoint Law as Special Counsel
--------------------------------------------------------------
All-City Towing, LLC and its affiliates seek approval from the U.S.
Bankruptcy Court for the Eastern District of Wisconsin to hire
Axepoint Law fdba OVB Law & Consulting, S.C. to act as special
counsel.
The firm will represent the Debtor in the currently pending
Sheboygan case, Case No.25-CV-144 against Goeser Dairy, LLC.
Axepoint has received $6,156.11 for preparing, filing, and
representing the Debtor in the Sheboygan Case.
Axepoint will charge for its legal services at these rates:
Samantha H. Baker $325 per hour
Paralegals $150 per hour
Axepoint is a "disinterested person" within the meaning of Sec.
101(14) of the Code, as modified by Sec. 1107(b), according to
court filings.
The firm can be reached through:
Samantha Baker, Esq.
Axepoint Law
fdba OVB Consulting, S.C.
826 N. Plankinton Ave., Suite 600
Milwaukee, WI 532023
Phone: (414) 585-0588
About All-City Towing LLC
All-City Towing LLC operate auto repair, towing, and transportation
businesses in Milwaukee and Sheboygan, Wisconsin.
The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. E.D. Wisc. Case No. 26-20523) on February
1, 2026. In the petition signed by Jeff Piller, member/manager, the
Debtor disclosed up to $10 million in both assets and liabilities.
Judge Rachel M. Blise oversees the case.
Evan P. Schmit, Esq., at Kerkman & Dunn, represents the Debtor as
legal counsel.
ALPINE CORP: Seeks to Extend Plan Exclusivity to Aug. 3
-------------------------------------------------------
Alpine Corporation asked the U.S. Bankruptcy Court for the Central
District of California to extend its exclusivity periods to file a
plan of reorganization and obtain acceptance thereof to Aug. 3 and
Oct. 2, 2026, respectively.
The Debtor explains that in order to formulate and file a feasible
plan of reorganization, the Debtor requires resolution with its
outstanding disputes with its secured creditor, IDB, and has been
working diligently to right size its business operations and
achieve profitability. These issues must be resolved in order for
the Debtor to be able to formulate a plan.
Moreover, since the case was recently filed, the Debtor requires
additional time to effectuate a reorganization of its financial
affairs so that it can determine the term of its Plan. The Debtor
believes that the requested extension of its exclusivity periods is
reasonable, appropriate and in the best interests of the estate.
The Debtor believes that a reorganization under Chapter 11 will
enable it to right-size its operations, restructure obligations,
preserve jobs, maintain supplier and customer relationships, and
maximize recoveries for creditors relative to a liquidation.
The Debtor asserts that it is not feasible for the Debtor to file a
Plan now given the pending issues. A premature Plan may ultimately
result in further delay of the confirmation process and increase
the administrative costs of this case as any Plan filed now will
have to be amended following any resolution of disputes with IDB
and/or further analysis of the operations of the Debtor.
Alpine Corporation is represented by:
Michael S. Kogan, Esq.
KOGAN LAW FIRM, APC
11500 W. Olympic Blvd., Suite 400
Los Angeles, CA 90064
Telephone: (310) 954-1690
E-mail: mkogan@koganlawfirm.com
About Alpine Corporation
Alpine Corporation, founded in 1999 and based in California,
designs, imports, and distributes home, garden, and holiday
products, offering a range that includes outdoor lighting,
fountains, planters, garden decor, seasonal items, and innovative
new products such as Bluetooth speakers. The Company operates an
in-house design team known for producing decorative and functional
pieces, and maintains a global sourcing operation to ensure
quality, competitive pricing, and timely delivery. Alpine serves
both retail stores and online customers through its platform,
positioning itself in the home and garden products industry.
Alpine Corporation sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. C.D. Cal. Case No. 2:26-10067) on January
5, 2026.
At the time of the filing, the Debtor disclosed up to $50 million
in both assets and liabilities.
Honorable Judge Neil W. Bason oversees the case.
Kogan Law Firm, APC is the Debtor's counsel.
AMBASSADOR VETERANS: Plan Exclusivity Period Extended to July 8
---------------------------------------------------------------
Judge Maria De Los Angeles Gonzalez of the U.S. Bankruptcy Court
for the District of Puerto Rico extended Ambassador Veterans
Services of Puerto Rico LLC's exclusive periods to file a plan of
reorganization and obtain acceptance thereof to July 8 and August
6, 2026, respectively.
As shared by Troubled Company Reporter, the Debtor explains that
applying First Circuit factors to the present case clearly
demonstrates cause for the requested extension.
The first factor, case complexity, continues to be satisfied given
that this case involves the operation of a specialized veteran care
facility under a government contract, requiring coordination with
multiple governmental stakeholders, including the Department of
Justice and the OPV, while ensuring uninterrupted care for
vulnerable veteran residents. The case further involves two pending
state court actions that remain unresolved and which bear directly
on the Debtor's ability to formulate a confirmable plan.
The second factor, likelihood of a consensual plan, is compelling.
The Parties have jointly agreed to submit to Court-supervised
mediation, having determined after months of good faith
negotiations that a structured mediation forum offers the most
efficient path toward resolution. The Joint Motion for Entry of a
Mediation Order filed on March 9, 2026 reflects the Parties' shared
commitment to achieving a consensual resolution. A successful
mediation outcome will be essential for the preparation of a
confirmable plan of reorganization that serves the interests of the
veteran residents, the bankruptcy estate, and all creditors.
The third factor, ensuring the debtor is not holding creditors
hostage, is also satisfied. The Debtor's request for this extension
is not a delay tactic but a necessary and reasonable measure to
preserve the integrity of the mediation process. The Debtor has
demonstrated measurable progress throughout this proceeding through
full compliance with Court Orders, U.S. Trustee requirements, and
all disclosure obligations.
Ambassador Veterans Services of Puerto Rico LLC is represented by:
Javier Villarino, Esq.
Villarino & Associates LLC
P.O. Box 9022515
San Juan, PR 00902
Tel: (787) 565-9894
Email: jvillarino@vilarinolaw.com
About Ambassador Veterans Services
of Puerto Rico LLC
Ambassador Veterans Services of Puerto Rico LLC operates a nursing
and intermediate care facility for veterans in Juana Diaz, Puerto
Rico. The Company provides residential healthcare services to
eligible veterans at its location in Barrio Amuelas.
Ambassador Veterans Services of Puerto Rico LLC sought relief under
Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.P.R. Case No.
25-02690) on June 13, 2025. In its petition, the Debtor reports
total assets of $2,567,403 and total liabilities of $4,068,135.
The Debtors are represented by Javier Vilarino, Esq. at VILARINO
AND ASSOCIATES LLC.
AMERICA'S LISTING: Hires Links Financial LLC as Financial Advisor
-----------------------------------------------------------------
America's Listing Leaders, LLC seeks approval from the U.S.
Bankruptcy Court for the Middle District of Florida to hire Links
Financial, LLC as financial advisor.
The firm will render these services:
a. prepare cash collateral budgets;
b. assist with the preparation of budget to actual reports;
c. assist with the preparation of the schedules and statement
of financial affairs;
d. prepare monthly operating reports;
e. prepare plan projections;
f. consult and advise on financial and operational issues
related to the business and the Chapter 11 case, as requested by
the Debtor or its counsel; and
g. such other services as agreed to by the parties.
The firm will receive compensation of $1,000 per month.
The firm will seek reimbursement of reasonable out-of-pocket
expenses.
As disclosed in the court filings, Links is "disinterested" as
defined in 11 U.S.C. Sec. 101(14).
The firm can be reached through:
Penny Parks, MBA
Links Financial, LLC
P.O. Box 173388
Tampa, FL 33647
Phone: (813) 341-1250
About America's Listing Leaders LLC
America's Listing Leaders, Inc. is a real estate services company
operating in Northwest Indiana, offering residential property
transactions including buying, selling, and renting homes. The
company provides tools for property search, market reports, and
home valuations, and supports clients with access to brokers, home
loans, and real estate education. Its platform emphasizes
interactive features and local expertise to connect clients with
properties across multiple cities in the region.
The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. M.D. Fla. Case No. 26-01576) on Feb. 27,
2026, with $100,000 to $500,000 in assets and $1 million to $10
million in liabilities. Stephen Johnston, chief executive officer,
signed the petition.
Alberto F. Gomez, Jr., Esq., at Johnson, Pope, Bokor, Ruppel &
Burns, LLP represents the Debtor as legal counsel.
AMERICAN LANGUAGE: Hires Newpoint Advisors as Financial Advisor
---------------------------------------------------------------
The American Language Kollege, Inc., doing business as Talk
International, seeks approval from the U.S. Bankruptcy Court for
the Southern District of Florida to employ Newpoint Advisors
Corporation as financial advisor.
The firm will render these services:
(a) prepare Chapter 11 monthly operating reports;
(b) prepare projections in connection with Chapter 11 Plan;
(c) prepare cash collateral budgets as necessary;
(d) attend hearings as necessary;
(e) consult with the Debtor and its bankruptcy counsel
throughout the engagement; and
(f) perform other services, as requested by the Debtor or the
Court.
The hourly rates of the firm's professionals are as follows:
Carin Sorvik, CPA $405
Other professionals/Paraprofessionals $295 - $405
The firm received a prepetition retainer of $25,000 from the
Debtor.
Ms. Sorvik disclosed in a court filing that the firm is a
"disinterested person" as the term is defined in Section 101(14) of
the Bankruptcy Code.
The firm can be reached through:
Carin Sorvik
Newpoint Advisors Corporation
750 Old Hickory Blvd., Building 2, Suite 150
Brentwood, TN 37027
Telephone: (800) 306-1250
Facsimile: (702) 543-3881
Email: csorvik@newpointadvisors.us
About The American Language Kollege Inc.
The American Language Kollege, Inc. runs an education business
providing English language and professional development programs to
international students.
The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. S.D. Fla. Case No. 26-13936) on March 30,
2026. In the petition signed by Desmond Levin, president, the
Debtor disclosed up to $10 million in both assets and liabilities.
The Debtor tapped Morgan B. Edelboim, Esq., at Edelboim Lieberman
PLLC as counsel and Newpoint Advisors Corporation as financial
advisor.
AMERICAN LANGUAGE: Seeks to Tap Edelboim Lieberman as Legal Counsel
-------------------------------------------------------------------
The American Language Kollege, Inc., doing business as Talk
International, seeks approval from the U.S. Bankruptcy Court for
the Southern District of Florida to employ Edelboim Lieberman PLLC
as counsel.
The firm will render these services:
(a) advise the Debtor with respect to its powers and duties in
the continued management and operation of its business and
property;
(b) attend meetings and negotiate with representatives of
creditors and other parties in interest and advise the Debtor on
the conduct of this case;
(c) advise the Debtor in connection with cash collateral,
postpetition financing, and other financing arrangements and draft
documents relating thereto;
(d) take all necessary actions to protect and preserve the
Debtor's estate;
(e) prepare on behalf of the Debtor all legal papers necessary
to the administration of the estate;
(f) negotiate and prepare on the Debtor's behalf a plan of
reorganization and all related agreements and documents, and take
any necessary action to obtain confirmation of such plan;
(g) attend meetings with third parties and participate in
negotiations with respect to the foregoing matters;
(h) appear before this Court, any appellate courts, and the
Office of the United States Trustee, and protect the interests of
the Debtor's estate before such courts and parties; and
(i) perform all other necessary legal services and provide all
other necessary legal advice to the Debtor in connection with this
Chapter 11 case.
The firm received a total retainer of $60,000 from the Debtor.
Morgan Edelboim, Esq., an attorney at Edelboim Lieberman, disclosed
in a court filing that the firm is a "disinterested person" as the
term is defined in Section 101(14) of the Bankruptcy Code.
The firm can be reached through:
Morgan B. Edelboim, Esq.
Edelboim Lieberman PLLC
2875 NE 191st St., Penthouse One
Miami, FL 33180
Telephone: (305) 768-9909
Facsimile: (305) 928-1114
Email: morgan@elrolaw.com
About The American Language Kollege Inc.
The American Language Kollege, Inc. runs an education business
providing English language and professional development programs to
international students.
The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. S.D. Fla. Case No. 26-13936) on March 30,
2026. In the petition signed by Desmond Levin, president, the
Debtor disclosed up to $10 million in both assets and liabilities.
The Debtor tapped Morgan B. Edelboim, Esq., at Edelboim Lieberman
PLLC as counsel and Newpoint Advisors Corporation as financial
advisor.
APEX SERVICE: Antares PCF Marks $660,000 1L Loan at 74% Off
-----------------------------------------------------------
Antares Private Credit Fund has marked its $660,000 loan extended
to Apex Service Partners, LLC to market at $173,000 or 26% of the
outstanding amount, according to Antares PCF's 10-K for the fiscal
year ended Dec. 31, 2025, filed with the U.S. Securities and
Exchange Commission on March 19, 2026.
Antares Private Credit Fund is a participant in a First Lien
Revolver extended to Apex Service Partners, LLC. The 1L Loan
accrues interest at a rate of S + 5.00%, 8.65% per annum. The 1L
Loan matures on Oct. 24, 2029.
Antares Private Credit Fund is a business development company that
provides private credit and financing solutions to middle-market
borrowers.
The Fund is led by Vivek Mathew as Chief Executive Officer and
President and Thomas Sweeney as Chief Financial Officer and
Principal Accounting Officer.
The Fund can be reached at:
Vivek Mathew
Antares Private Credit Fund
320 South Canal Street, Suite 4200
Chicago, IL 60606
Telephone: (312) 638-4119
About Apex Service Partners, LLC
Apex Service Partners, LLC provides HVAC services. The Company
offers residential HVAC, plumbing, and electrical services. Apex
Service Partners serves customers in the United States.
APRIL MANAGEMENT: Seeks Subchapter V Bankruptcy in Ohio
-------------------------------------------------------
On April 3, 2026, April Management, Ltd filed for Chapter 11
protection in the U.S. Bankruptcy Court for the Northern District
of Ohio. According to court filings, the Debtor reports between
$100,001 and $1,000,000 in debt owed to between 1 and 49
creditors.
A meeting of creditors under Section 341(a) to be held on May 30,
2026 at 01:00 PM via remotely.
About April Management, Ltd
April Management, Ltd is a business entity engaged in management
and administrative services, potentially including property or
asset management operations.
April Management, Ltd sought relief under Subchapter V of Chapter
11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-11535) on April
3, 2026. In its petition, the Debtor reports estimated assets of
$100,001 to $1,000,000 and estimated liabilities of $100,001 to
$1,000,000.
Honorable Bankruptcy Judge Jessica E. Price Smith handles the
case.
The Debtor is represented by Susan M. Gray, Esq. of Susan M. Gray
Attys & Counselors At Law.
APRIO ADVISORY: Antares PCF Marks $5.1M 1L Loan at 47% Off
----------------------------------------------------------
Antares Private Credit Fund has marked its $5,164,000 loan extended
to Aprio Advisory Group, LLC to market at $2,727,000 or 53% of the
outstanding amount, according to Antares PCF's 10-K for the fiscal
year ended Dec. 31, 2025, filed with the U.S. Securities and
Exchange Commission.
Antares Private Credit Fund is a participant in a First Lien
Delayed Draw Term Loan extended to Aprio Advisory Group, LLC. The
1L Loan accrues interest at a rate of S + 4.75%, 8.40% per annum.
The 1L Loan matures on Aug. 1, 2031.
Antares Private Credit Fund is a business development company that
provides private credit and financing solutions to middle-market
borrowers.
The Fund is led by Vivek Mathew as Chief Executive Officer and
President and Thomas Sweeney as Chief Financial Officer and
Principal Accounting Officer.
The Fund can be reached at:
Vivek Mathew
Antares Private Credit Fund
320 South Canal Street, Suite 4200
Chicago, IL 60606
Telephone: (312) 638-4119
About Aprio Advisory Group, LLC
Aprio Advisory Group, LLC is a professional services firm that
provides advisory and related consulting services.
ARAX MIDCO: Antares PCF Marks $431,000 1L Loan at 86% Off
---------------------------------------------------------
Antares Private Credit Fund has marked its $431,000 loan extended
to Arax Midco, LLC to market at $60,000 or 14% of the outstanding
amount, according to Antares PCF's 10-K for the fiscal year ended
Dec. 31, 2025, filed with the U.S. Securities and Exchange
Commission on March 19, 2026.
Antares Private Credit Fund is a participant in a First Lien
Revolver loan extended to Arax Midco, LLC. The 1L Loan accrues
interest at a rate of S + 5.00%, 8.65% per annum. The 1L Loan
matures on April 11, 2029.
Antares Private Credit Fund is a business development company that
provides private credit and financing solutions to middle-market
borrowers.
The Fund is led by Vivek Mathew as Chief Executive Officer and
President and Thomas Sweeney as Chief Financial Officer and
Principal Accounting Officer.
The Fund can be reached at:
Vivek Mathew
Antares Private Credit Fund
320 South Canal Street, Suite 4200
Chicago, IL 60606
Telephone: (312) 638-4119
About Arax Midco, LLC
Arax Midco, LLC is a privately held middle-market company that
manufactures building glass.
AWP GROUP: Antares PCF Marks $320,000 1L Loan at 53% Off
--------------------------------------------------------
Antares Private Credit Fund has marked its $320,000 loan extended
to AWP Group Holdings, Inc. to market at $149,000 or 47% of the
outstanding amount, according to Antares PCF's 10-K for the fiscal
year ended Dec. 31, 2025, filed with the U.S. Securities and
Exchange Commission.
Antares Private Credit Fund is a participant in a First Lien
Revolver extended to AWP Group Holdings, Inc. The 1L Loan accrues
interest at a rate of S + 4.50 % per annum. The 1L Loan matures on
Dec. 23, 2030.
Antares Private Credit Fund is a business development company that
provides private credit and financing solutions to middle-market
borrowers.
The Fund is led by Vivek Mathew as Chief Executive Officer and
President and Thomas Sweeney as Chief Financial Officer and
Principal Accounting Officer.
The Fund can be reached at:
Vivek Mathew
Antares Private Credit Fund
320 South Canal Street, Suite 4200
Chicago, IL 60606
Telephone: (312) 638-4119
About AWP Group Holdings, Inc.
AWP Group Holdings, Inc. operates as a holding company. The
Company, through its subsidiaries provides flagging traffic
control, equipment rental, and sales, event traffic management,
control plans, consulting, safety, and training services. AWP Group
Holdings serves customers in the United States.
AYA SERVICE 1: Secured Party Sets April 20, 2026 Auction
--------------------------------------------------------
In accordance with applicable provisions of the Uniform Commercial
Code by virtue of default under a pledge agreement dated Nov. 27,
2024, executed by AYA Service 1 LLC ("pledgor") and 47 West LLC
("secured party"), the Secured Party will offer for sale at public
auction the right, title and interest of AYA Service 1 LLC
("pledgor") in and to 100% of the membership interests and other
equity interests, including, but not limited to, all economic
rights and governance rights associated therewith, in and to
321-323-325 West 42nd Street LLC ("issuer") which owns the real
property known as 321, 323, and 325 West 42nd Street, New York, New
York ("property") ("collateral").
The rights secured by the secured party are subject to a senior
loan and first priority mortgage on the property and the
obligations and liabilities set forth in the senior loan
documents.
In order to satisfy the amounts due to the secured party in the
amount of $3,648,639.28 plus accrued interest and fees, including
default interest at the rate of 24% per annum from Sept. 1, 2025,
plus costs and disbursements and less any credits being held by the
lender, if any, and less a $100,000 payment received on Jan. 15,
206, to reduce the principal and less payment in the amount of
$1,025,000 received on March 16, 2026 to be applied first to costs,
legal fees, interest and then to principal, the public auction will
be held on April 20, 2026, at 3:30 p.m. EST, and will be conducted
by Matthew D. Mannion of Mannion Auctions LLC, virtually via
following Zoom meeting link:
https://us06web.zoom.us/j/83931696258?pwd=BgrvalFc2lJoygzuoFUuAHuQFPAl72.1
Meeting ID: 839 3169 6258
Passcode: 582050
or by Phone at +1 (646) 931-3860
The secured party reserves the right to credit bid. Any individual
or entity interested in bidding on the collateral must contact Mr.
Mannion at mdmannion@jpandr.com or by phone at +1 (212) 267-6698,
to obtain a copy of the terms of sale and information regarding
bidding instructions. Upon execution of a confidentiality and
non-disclosure agreement, additional documentation and information
will be made available.
The relevant UCC was filed on Nov. 27, 2024, and refiled on Nov.
19, 2025, in the state of Delaware, whereby AYA Service 1 LLC, as
pledgor, pledged its 100% interest in 321-323-325 West 42nd Street
LLC, as the sole member, to the Secured Party.
Attorney for the Secured Party:
Evan M. Newman, Esq.
Jacobowitz Newman Tversky LLP
377 Persall Avenue, Suite C
Cedarhurst, NY 11516
Tel: (516) 545-0996
Fax: (212) 671-1883
BAER & ASSOCIATES: Seeks to Tap Accounting & Advisory as Accountant
-------------------------------------------------------------------
Baer & Associates, Inc. seeks approval from the U.S. Bankruptcy
Court for the District of Kansas to employ Accounting & Advisory
Services, PA as accountant.
The firm will render bookkeeping, preparation of federal, state,
and local income tax returns, preparation of financial reports,
payroll processing, and consulting services as requested.
The firm will be paid at hourly rates of $125 to $375.
Scott Martin, a member at Accounting & Advisory Services, disclosed
in a court filing that the firm is a "disinterested person" as the
term is defined in Section 101(14) of the Bankruptcy Code.
The firm can be reached through:
Scott Martin
Accounting & Advisory Services, PA
4200 W. 115th St., Ste. 300
Leawood, KS, 66211
About Baer & Associates Inc.
Baer & Associates, Inc. based in Prairie Village, Kansas, provides
custom and innovative packaging solutions for manufacturers and
businesses across various industries. The company offers
sustainable and specialized packaging products, emphasizing supply
chain support, food safety, and client-focused service. Founded in
1981, it serves both stock and custom packaging needs through its
U.S. Operations.
The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Kan. Case No. 26-20151) on February 4,
2026. In the petition signed by Patrick M. Loftus, president, the
Debtor disclosed up to $500,000 in assets and up to $10 million in
liabilities.
Judge Dale L. Somers oversees the case.
The Debtor tapped Gary Mardian, Esq., at Weisner & Frackowiak, LC
as counsel and Scott Martin at Accounting & Advisory Services, PA
as accountant.
BC GROUP: Antares PCF Marks $7MM 1L Loan at 31% Off
---------------------------------------------------
Antares Private Credit Fund has marked its $7,086,000 loan extended
to BC Group Holdings, Inc. to market at $4,894,000 or 69% of the
outstanding amount, according to Antares PCF's 10-K for the fiscal
year ended Dec. 31, 2025, filed with the U.S. Securities and
Exchange Commission on March 19, 2026.
Antares Private Credit Fund is a participant in a First Lien
Delayed Draw Term Loan extended to BC Group Holdings, Inc. The 1L
Loan accrues interest at a rate of S + 5.00%, 8.65% per annum. The
1L Loan matures on Dec. 21, 2027.
Antares Private Credit Fund is a business development company that
provides private credit and financing solutions to middle-market
borrowers.
The Fund is led by Vivek Mathew as Chief Executive Officer and
President and Thomas Sweeney as Chief Financial Officer and
Principal Accounting Officer.
The Fund can be reached at:
Vivek Mathew
Antares Private Credit Fund
320 South Canal Street, Suite 4200
Chicago, IL 60606
Telephone: (312) 638-4119
About BC Group Holdings, Inc.
BC Group Holdings, Inc. distributes technology hardware products.
The Company serves customers in the United States.
BENEDICTINE UNIVERSITY: S&P Affirms 'BB' LT Rating on Revenue Bond
------------------------------------------------------------------
S&P Global Ratings affirmed its 'BB' long-term rating on the
Illinois Finance Authority's series 2017 and 2021 revenue bonds
outstanding, issued for Benedictine University.
The outlook is stable.
S&P said, "Environmental and governance factors are neutral in our
analysis. As with many higher education institutions in the region,
we believe that changing demographic and population trends
resulting from a smaller traditional college-age population could
affect the university's Lisle campus, presenting elevated social
capital risk.
"The stable outlook reflects our expectation financial resource
ratios will remain sufficient for the rating. The stable outlook
also reflects our view of management's extensive actions to
stabilize enrollment and control expenses, with no additional debt
anticipated in the next few years.
"We could consider a negative rating action if enrollment decreases
materially, resulting in larger deficits and potential long-term
elevated endowment draws to support operations. Additional debt
without a commensurate increase in financial resources would be
viewed negatively.
"We could consider a positive rating action if a trend of continued
stable enrollment and demand metrics develops, operations continue
to improve to near break-even without supplementary endowment
draws, and financial resource ratios increase."
BERNARD L. MADOFF: Trustee Taps YTL LLP as Counsel in Hong Kong
---------------------------------------------------------------
Irving H. Picard, trustee for the substantively consolidated
liquidation of Bernard L. Madoff Investment Securities LLC, seeks
approval from the U.S. Bankruptcy Court for YTL LLP as special
counsel in Hong Kong.
Issues have arisen in Hong Kong that require the Trustee's
representation by local counsel. The Trustee seeks to retain YTL to
advise the Trustee regarding various issues under Hong Kong law and
assist the Trustee with litigation where local law is implicated.
YTL's rate are:
Standard Rates Discounted Rates
Partner $1,075 $967.50
Senior Of Counsel $1,000 $900
Of Counsel $897 807.30
Senior Associate $833 $749.70
Associate $577 - $769 $519.30 - $692.10
Trainee Solicitor/
Paralegal $416 $374.40
Davyd Wong, a partner of YTL, assured the court that YTL is a
disinterested pursuant to sections 78eee(b)(3) and 78eee(b)(6) of
SIPA and does not hold or represent any interest adverse to the
Debtor's estate.
The firm can be reached through:
Davyd Wong, Esq.
YTL LLP
Suites 2606-08, China Resources Building
26 Harbour Rd, Wan Chai, Hong Kong
Phone: (852) 3468 7200
The case is Securities Investor Protection Corp. v. Bernard L.
Madoff Investment Securities LLC, case number 1:08-ap-01789, in the
U.S. Bankruptcy Court for the Southern District of New York.
BLACK BUFFALO: Seeks Approval to Tap Ordinary Course Professionals
------------------------------------------------------------------
Black Buffalo 3D Corporation seeks approval from the U.S.
Bankruptcy Court for the District of Delaware to employ
non-bankruptcy professionals in the ordinary course of business.
The Debtor needs ordinary course professionals (OCPs) to perform
services for matters unrelated to this Chapter 11 case.
The Debtor seeks to pay OCPs 100 percent of the fees and expenses
incurred.
The Debtor does not believe that any of the OCPs have an interest
materially adverse to it, its estates, creditors, or other parties
in interest in connection with the matter upon which they are to be
engaged.
The OCPs include:
Ballard Spahr LLP
222 Delaware Avenue, 10th Floor
Wilmington, DE 19801
- Legal Counsel
Norton Rose Fulbright Canada, LLP
222 Bay Street, Suite 3000
Toronto, ON M5K 1E7 Canada
- Legal Counsel
Womble Bond Dickinson (US) LLP
1313 North Market Street, Suite 1200
Wilmington, DE 19801
- Legal Counsel
About Black Buffalo 3D
Black Buffalo 3D Corporation develops and supplies large-scale 3D
construction printing systems, proprietary cement-based printing
materials, and related training and consulting services. The Union,
New Jersey-based company offers the NEXCON line of 3D construction
printers used to produce code-compliant structural walls and
building components for onsite and offsite construction. It
operates globally in the construction technology and additive
manufacturing industry, serving developers, contractors,
governments, and non-governmental organizations.
Black Buffalo 3D filed Chapter 11 petition (Bankr. D. Del. Case No.
25-12270) on December 24, 2025, listing between $1 million and $10
million in both assets and liabilities.
Judge Thomas M. Horan oversees the case.
Laurel D. Roglen, Esq., at Ballard Spahr, LLP is the Debtor's
counsel.
BRAVO BRIO: Secures Win in Bankruptcy Clash w/ Dining Credit Co.
----------------------------------------------------------------
Alex Wolf of Bloomberg Law reports that Bravo Brio Restaurants LLC,
the operator behind Bravo Italian Kitchen and Brio Italian Grille,
won a key victory in its Chapter 11 case by defeating a challenge
from a dining credit lender that sought payment on a large claim. A
judge in the Middle District of Florida ruled that InKind Cards
Inc. is not entitled to recover under its asserted $12 million
claim.
Judge Lori V. Vaughan found that the terms of InKind's $3.5 million
financing agreement with the restaurant operator did not give rise
to a valid claim in bankruptcy. InKind's business model involved
buying dining credits at a discount and then reselling them to
customers, but the judge said that did not transform the company
into a creditor with Chapter 11 recovery rights, according to
report.
Prior to filing for bankruptcy, Bravo Brio had redeemed roughly $7
million in dining credits, satisfying those obligations as
customers used the certificates. That redemption history helped
show the court that the company had already dealt with most of its
responsibilities on that front, the report relays.
The decision removes a potentially large claim from the bankruptcy
estate, giving Bravo Brio clarification around its obligations and
strengthening its path to reorganize. With the ruling in hand, the
restaurant operator can advance its restructuring objectives with
greater certainty around creditor entitlements, Bloomberg reports.
About Bravo Brio Restaurants, LLC
Bravo Brio Restaurants, LLC is a Florida‑based restaurant
operator behind the Bravo! Italian Kitchen and Brio Italian Grille
chains. The multi‑state casual dining group known for
Italian‑American cuisine.
Bravo Brio Restaurants, LLC sought protection for relief under
Chapter 11 of the Bankruptcy Code (Bankr. M.D. Fla. Case No.
25-05224) on August 18, 2025, listing $50,000,001 to $100 million
in both assets and liabilities.
Judge Lori V Vaughan presides over the case.
R Scott Shuker, Esq. at Shuker & Dorris, P.A. represents the Debtor
as counsel.
BREAKFAST BITCH: Initiates Chapter 11 Bankruptcy in Arizona
-----------------------------------------------------------
On April 3, 2026, Breakfast Bitch L LLC filed for Chapter 11
protection in the U.S. Bankruptcy Court for the District of
Arizona. According to court filings, the Debtor reports between
$100,001 and $1,000,000 in debt owed to between 1 and 49
creditors.
About Breakfast Bitch L LLC
Breakfast Bitch L LLC is a hospitality company engaged in
restaurant and food service operations, with a focus on casual
dining concepts.
Breakfast Bitch L LLC sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. Case No. 26-03289) on April 3, 2026. In its
petition, the Debtor reports estimated assets of $100,001 to
$1,000,000 and estimated liabilities of $100,001 to $1,000,000.
Honorable Bankruptcy Judge Madeleine C. Wanslee handles the case.
The Debtor is represented by D. Lamar Hawkins, Esq. of Guidant Law,
PLC.
BRUNCH ROOM: Gets Interim OK to Use Cash Collateral Until April 30
------------------------------------------------------------------
Brunch Room Bistro, LLC received interim approval from the U.S.
Bankruptcy Court for the Northern District of Texas, Dallas
Division, to use cash collateral.
The Debtor needs to use cash collateral to cover payroll, general
operating expenses, and other unforeseen costs critical to
continuing its restaurant operations through April 30 in accordance
with its budget. The Debtor is allowed to pay up to 110% of
individual expense in the budget without further court order.
As protection, creditors with existing security interests in the
cash collateral will be granted replacement liens on all cash
collateral generated and property acquired by the Debtor after the
bankruptcy filing, with the same validity and priority as their
pre-bankruptcy liens. These replacement liens do not apply to any
Chapter 5 causes of action or their proceeds.
The order is available at https://is.gd/EKgeKj from
PacerMonitor.com.
A final hearing will be held on April 30.
Brunch Room Bistro, along with its sole interest holder French
Quarter Daiquiris, LLC, filed for Chapter 11 on March 20 and is
operating as a debtor-in-possession without a trustee or examiner.
The Debtor identifies multiple secured creditors, primarily WebBank
and Funding Metrics, LLC, whose claims are secured by accounts
receivable, cash, and equipment.
About Brunch Room Bistro LLC
Brunch Room Bistro LLC is a Texas-based dining establishment
specializing in brunch-style cuisine, offering a range of breakfast
and lunch menu items in a casual setting. The company operates
within the food and hospitality industry.
Brunch Room Bistro LLC sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. Case No. 26-31166) on March 20, 2026. In
its petition, the Debtor reports estimated assets between $100,001
and $1,000,000 and estimated liabilities between $100,001 and
$1,000,000.
The Debtor is represented by Frances Anne Smith of Offit Kurman.
BUBBLES & BARKS: Case Summary & Three Unsecured Creditors
---------------------------------------------------------
Debtor: Bubbles & Barks, LLC
d/b/a Furtician
d/b/a Barkingham Palace
21315 139th Pl SE
Monroe, WA 98272
Business Description: Bubbles & Barks, LLC, based in
Monroe, Washington, operates under the trade names Furtician and
Barkingham Palace. The company provides grooming, boarding, and
daycare services for dogs and cats, including baths, trims, and
overnight care. It serves pet owners in the Monroe area, combining
routine grooming with extended boarding options.
Chapter 11 Petition Date: April 6, 2026
Court: United States Bankruptcy Court
Western District of Washington
Case No.: 26-11088
Judge: Hon. Christopher M Alston
Debtor's Counsel: Thomas D. Neeleman, Esq.
NEELEMAN LAW GROUP, P.C.
1403 8th Street
Marysville, WA 98270
Tel: (425) 212-4800
Fax: (425) 212-4802
E-mail: courtmail@expresslaw.com
Estimated Assets: $100,000 to $500,000
Estimated Liabilities: $1 million to $10 million
The petition was signed by Gary M. Eggleston Jr. as managing
member.
A full-text copy of the petition, which includes a list of the
Debtor's three unsecured creditors, is available for free on
PacerMonitor at:
https://www.pacermonitor.com/view/XUKZ25I/Bubbles__Barks_LLC__wawbke-26-11088__0001.0.pdf?mcid=tGE4TAMA
BUTTERCUP BODYWEAR: Seeks to Tap Donald W. Reid as General Counsel
------------------------------------------------------------------
Buttercup Bodywear Inc. seeks approval from the U.S. Bankruptcy
Court for the Southern District of California to employ the Law
Office of Donald W. Reid as counsel.
The firm will render these services:
(a) prepare pleadings, applications and conduct examinations
incidental to administration;
(b) advise the Debtor with respect to its rights, powers,
duties and obligations in the administration of this case, the
management of its financial affairs and the management of its
income and property;
(c) advise and assist the Debtor with respect to compliance
with the requirements of the Office of the United States Trustee;
(d) advise the Debtor regarding matters of bankruptcy law;
(e) advise and represent the Debtor in connection with all
applications, motions or complaints for adequate protection,
sequestration, relief from stays, appointment of a trustee or
examiner and all other similar matters;
(f) develop the relationship of the status of the Debtor to
the claims of creditors in these proceedings;
(g) advise and assist the Debtor in the formulation and
presentation of a plan pursuant to Chapter 11 of the Bankruptcy
Code and concerning any and all matters relating thereto;
(h) represent the Debtor in any necessary adversary
proceedings;
(i) represent the Debtor in any non-bankruptcy proceedings for
the purpose of filing a notice of stay; and
(j) perform any and all other legal services incident and
necessary herein.
Donald Reid, Esq., the primary attorney in this representation,
will be paid at his hourly rate of $500 plus reimbursement.
The firm received a prepetition retainer in the amount of $25,000
from the Debtor.
Mr. Reid disclosed in a court filing that his firm is a
"disinterested person" as the term is defined in Section 101(14) of
the Bankruptcy Code.
The firms can be reached through:
Donald W. Reid, Esq.
Law Office of Donald W. Reid
770 First Avenue, Suite 250
San Diego, CA 92101
Telephone: (619) 88-6100
Facsimile: (619) 923-2051
Email: don@donreidlaw.com
About Buttercup Bodywear Inc.
Buttercup Bodywear Inc. designs and sells women's apparel primarily
online and through select third-party retailers.
The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. S.D. Cal. Case No. 26-00877) on March 1,
2026. In the petition signed by Sheila Attari, chief executive
officer, the Debtor disclosed up to $500,000 in assets and up to
$10 million in liabilities.
Judge Barrett Marum oversees the case.
The Law Office of Donald W. Reid represents the Debtor as counsel.
CALITRE LLC: Voluntary Chapter 11 Case Summary
----------------------------------------------
Debtor: Calitre, LLC
303 Rockland Avenue
Westwood, NJ 07675
Business Description: Calitre LLC, based in New York, New
York, provides commercial painting, wallcovering installation, and
Kadex coating services for residential and commercial properties.
The company's portfolio includes projects across New York City and
nearby markets, including office buildings, hotels, multifamily
properties, and transit-related facilities.
Chapter 11 Petition Date: April 7, 2026
Court: United States Bankruptcy Court
District of New Jersey
Case No.: 26-13857
Debtor's Counsel: Brian G Hannon, Esq.
NORGAARD OBOYLE HANNON
184 Grand Avenue
Englewood, NJ 07631
Tel: (201) 871-1333
Fax: (201) 871-3161
E-mail: bhannon@norgaardfirm.com
Estimated Assets: $100,000 to $500,000
Estimated Liabilities: $1 million to $10 million
The petition was signed by Eric Stolte as managing member.
The Debtor did not include a list of its 20 largest unsecured
creditors with the petition.
A full-text copy of the petition is available for free on
PacerMonitor at:
https://www.pacermonitor.com/view/QGJYRKA/Calitre_LLC__njbke-26-13857__0001.0.pdf?mcid=tGE4TAMA
CAN TRAIL: Seeks to Hire Tang & Associates as Bankruptcy Counsel
----------------------------------------------------------------
Can Trail Transportation, LLC seeks approval from the U.S.
Bankruptcy Court for the Central District of California to employ
Tang & Associates as counsel.
The firm will render these services:
(a) advise the Debtor on matters relating to administration of
the estate, and on its rights and remedies about the estate's
assets and the claims of secured and unsecured creditors;
(b) appear for, prosecute defend, and represent the Debtor's
interest in suit arising in or related to this case;
(c) assist in the preparation of such legal documents as are
required by the orderly administration of this estate; and
(d) represent the Debtor in any adversary proceeding to
recover assets of the bankruptcy estate.
The firm will be paid at these hourly rates:
Kevin Tang, Attorney $500
Porfirio Rodriguez, Attorney $400
John Brady, Attorney $400
Geovannie Rodriguez, Paralegal $200
Pamela Zamudio, Paralegal $200
Caleb Chang, Paralegal $200
In addition, the firm will seek reimbursement for expenses
incurred.
Prior to the petition date, the firm received a prepetition
retainer in the amount of $25,000 from the Debtor.
Mr. Tang disclosed in a court filing that the firm is a
"disinterested person" as the term is defined in Section 101(14) of
the Bankruptcy Code.
The firm can be reached through:
Kevin Tang, Esq.
Tang & Associates
17011 Beach Blvd., Suite 900
Huntington Beach, CA 92647
Telephone: (714) 594-7022
Facsimile: (714) 594-7024
Email: kevin@tang-associates.com
About Can Trail Transportation LLC
Can Trail Transportation L.L.C. provides freight transportation
services including dry and refrigerated local and intermodal
over-the-road shipments, with a focus on cargo originating from the
Los Angeles and Long Beach ports. The company serves clients across
sectors such as B2B commercial, construction, and hazardous
materials, offering LTL pick-up and tailored logistics solutions.
Can Trail emphasizes reliability, safety, and customer
satisfaction, leveraging experienced drivers, industry expertise,
and a culture of continuous improvement to support efficient and
dependable freight operations.
The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. C.D. Cal. Case No. 26-11496) on March 1,
2026. In the petition signed by Derrick Lee Cantrell, managing
member, the Debtor disclosed $272,546 in assets and $1,740,024 in
liabilities.
Judge Scott H. Yun oversees the case.
Kevin Tang, Esq., at Tang & Associates represents the Debtor as
counsel.
CASKATA INCORPORATED: Case Summary & 20 Top Unsecured Creditors
---------------------------------------------------------------
Debtor: Caskata Incorporated
103 Central Ave., Unit C
Wellesley, MA 02482
Business Description: Caskata, Inc., based in Wellesley,
Massachusetts, designs and sells tabletop and home decor products,
including plates, bowls, glassware, and textiles. The company
maintains finished goods inventory for resale, distributing its
products through direct-to-consumer and wholesale channels.
Chapter 11 Petition Date: April 7, 2026
Court: United States Bankruptcy Court
District of Massachusetts
Case No.: 26-10775
Debtor's Counsel: Jesse Redlener, Esq.
ASCENDANT LAW GROUP, LLC
2 Dundee Park Drive
Suite 102
Andover, MA 01810
E-mail: jredlener@ascendantlawgroup.com
Total Assets: $268,168
Total Liabilities: $3,221,060
The petition was signed by Shawn Laughlin as president.
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/VPLONQQ/Caskata_Incorporated__mabke-26-10775__0001.0.pdf?mcid=tGE4TAMA
CEDAR RAIN: Seeks Chapter 7 Bankruptcy in Washington
----------------------------------------------------
On April 1, 2026, Cedar Rain Spirits LLC filed for Chapter 7
bankruptcy protection in the U.S. Bankruptcy Court for the Eastern
District of Washington. Court records show the Debtor owes between
$100,001 and $1,000,000 to approximately 1 to 49 creditors.
About Cedar Rain Spirits LLC
Cedar Rain Spirits LLC operates in the spirits industry, focusing
on the manufacturing and distribution of alcoholic beverages.
Cedar Rain Spirits LLC sought relief under Chapter 7 of the U.S.
Bankruptcy Code (Bankr. Case No. 26-00613) on April 1, 2026. The
filing lists estimated assets ranging from $0 to $100,000 and
liabilities between $100,001 and $1,000,000.
The case is assigned to Honorable Bankruptcy Judge Whitman L.
Holt.
The Debtor is represented by Rene Erm, II, Esq. of Rene Erm II
PLLC.
CENTER FOR EMOTIONAL: Trustee Taps as Hendren Redwine Co-Counsel
----------------------------------------------------------------
George F. Sanderson III, Chapter 11 Trustee of Center for Emotional
Health, PC seeks approval from the U.S. Bankruptcy Court for the
Eastern District of North Carolina to employ Hendren, Redwine &
Malone, PLLC as co-counsel.
The firm will assist in and provide legal advice with respect to
the Trustee carrying out his appointed duties in this Chapter 11
case.
Hendren, Redwine, & Malone, PLLC represents no interest adverse to
the Trustee or to the bankruptcy estate in the matters upon which
the Firm is to be engaged for the Trustee, according to court
filings.
The firm can be reached through:
Rebecca Redwine Grow, Esq.
Hendren, Redwine & Malone, PLLC
4600 Marriott Drive, Suite 150
Raleigh, NC 27612
Tel: (919) 420-7867
Fax: (919) 420-0475
Email: rredwine@hendrenmalone.com
About Center for Emotional Health PC
Center for Emotional Health, PC provides outpatient mental health
services, including therapy for children and adults, counseling,
and medication management, operating from Salisbury, North
Carolina. The practice offers treatment for substance-use disorders
and specialized programs for veterans, serving patients through a
combination of individual and group sessions. It is classified
within the healthcare industry, specifically in behavioral and
mental health services.
Center for Emotional Health sought protection under Chapter 11 of
the U.S. Bankruptcy Code (Bankr. E.D.N.C. Case No. 25-04478) on
November 10, 2025, listing between $1 million and $10 million in
assets and liabilities. Jonathan Stoudmire, president of Center for
Emotional Health, signed the petition.
Judge Pamela W. McAfee oversees the case.
The Debtor tapped Philip M. Sasser, Esq., at Sasser Law Firm as
counsel and Carolina Accounting & Tax Service, PLLC as accountant.
CERITY PARTNERS: Antares PCF Marks $1.3M 1L Loan at 84% Off
-----------------------------------------------------------
Antares Private Credit Fund has marked its $1,368,000 loan extended
to Cerity Partners Equity Holding LLC to market at $216,000 or 16%
of the outstanding amount, according to Antares PCF's 10-K for the
fiscal year ended Dec. 31, 2025, filed with the U.S. Securities and
Exchange Commission.
Antares Private Credit Fund is a participant in a First Lien
Revolver loan extended to Cerity Partners Equity Holding LLC. The
1L Loan accrues interest at a rate of S + 4.50%, 8.15% per annum.
The 1L Loan matures on July 28, 2031.
Antares Private Credit Fund is a business development company that
provides private credit and financing solutions to middle-market
borrowers.
The Fund is led by Vivek Mathew as Chief Executive Officer and
President and Thomas Sweeney as Chief Financial Officer and
Principal Accounting Officer.
The Fund can be reached at:
Vivek Mathew
Antares Private Credit Fund
320 South Canal Street, Suite 4200
Chicago, IL 60606
Telephone: (312) 638-4119
About Cerity Partners Equity Holding LLC
Cerity Partners Equity Holding LLC is a wealth and financial
advisory holding company.
CFS BRANDS: Antares PCF Marks $493,000 1L Loan at 47% Off
---------------------------------------------------------
Antares Private Credit Fund has marked its $493,000 loan extended
to CFs Brands, LLC to market at $263,000 or 53% of the outstanding
amount, according to Antares PCF's 10-K for the fiscal year ended
Dec. 31, 2025, filed with the U.S. Securities and Exchange
Commission.
Antares Private Credit Fund is a participant in a First Lien
Revolver loan extended to CFs Brands, LLC. The 1L Loan accrues
interest at a rate of S + 5.00%, 8.67% per annum. The 1L Loan
matures on Oct. 2, 2029.
Antares Private Credit Fund is a business development company that
provides private credit and financing solutions to middle-market
borrowers.
The Fund is led by Vivek Mathew as Chief Executive Officer and
President and Thomas Sweeney as Chief Financial Officer and
Principal Accounting Officer.
The Fund can be reached at:
Vivek Mathew
Antares Private Credit Fund
320 South Canal Street, Suite 4200
Chicago, IL 60606
Telephone: (312) 638-4119
About CFs Brands, LLC
CFs Brands, LLC is the parent company of the leading names in
foodservice, sanitary maintenance, and healthcare/hospitality meal
delivery.
CHAPIN HOLDINGS: Voluntary Chapter 11 Case Summary
--------------------------------------------------
Debtor: Chapin Holdings, LLC
6387 Camp Bowie Blvd., Ste. 508
Fort Worth, TX 76116
Business Description: Chapin Holdings, LLC, a single-asset real
entity, owns and manages one income-
producing property.
Chapter 11 Petition Date: April 7, 2026
Court: United States Bankruptcy Court
Northern District of Texas
Case No.: 26-41580
Debtor's Counsel: Weldon L. Moore, III, Esq.
SUSSMAN & MOORE, LLP
2911 Turtle Creek Blvd.
Ste. 1100
Dallas, TX 75219
Tel: 214-378-8270
Fax: 214-378-8290
E-mail: wmoore@csmlaw.net
Estimated Assets: $10 million to $50 million
Estimated Liabilities: $1 million to $10 million
The petition was signed by Corey Waldrop as manager.
The Debtor did not include a list of its 20 largest unsecured
creditors with the petition.
A full-text copy of the petition is available for free on
PacerMonitor at:
https://www.pacermonitor.com/view/YW6IKQA/Chapin_Holdings_LLC__txnbke-26-41580__0001.0.pdf?mcid=tGE4TAMA
CHARTIS GROUP: Antares PCF Marks $387,000 1L Loan at 83% Off
------------------------------------------------------------
Antares Private Credit Fund has marked its $387,000 loan extended
to The Chartis Group, LLC to market at $64,000 or 17% of the
outstanding amount, according to Antares PCF's 10-K for the fiscal
year ended Dec. 31, 2025, filed with the U.S. Securities and
Exchange Commission on March 19, 2026.
Antares Private Credit Fund is a participant in a First Lien
Delayed Draw Term Loan extended to The Chartis Group, LLC. The 1L
Loan accrues interest at a rate of S + 4.25%, 7.90% per annum. The
1L Loan matures on Sept. 17, 2031.
Antares Private Credit Fund is a business development company that
provides private credit and financing solutions to middle-market
borrowers.
The Fund is led by Vivek Mathew as Chief Executive Officer and
President and Thomas Sweeney as Chief Financial Officer and
Principal Accounting Officer.
The Fund can be reached at:
Vivek Mathew
Antares Private Credit Fund
320 South Canal Street, Suite 4200
Chicago, IL 60606
Telephone: (312) 638-4119
About The Chartis Group, LLC
The Chartis Group, LLC is a consulting firm that provides advisory
services to healthcare organizations on strategy, operations and
performance improvement.
CHERRY BEKAERT: Antares PCF Marks $1.1M 1L Loan at 47% Off
----------------------------------------------------------
Antares Private Credit Fund has marked its $1,156,000 loan extended
to Cherry Bekaert Advisory LLC to market at $618,000 or 53% of the
outstanding amount, according to Antares PCF's 10-K for the fiscal
year ended Dec. 31, 2025, filed with the U.S. Securities and
Exchange Commission.
Antares Private Credit Fund is a participant in a First Lien
Delayed Draw Term Loan extended to Cherry Bekaert Advisory LLC. The
1L Loan accrues interest at a rate of S + 4.50%, 8.17% per annum.
The 1L Loan matures on June 28, 2030.
Antares Private Credit Fund is a business development company that
provides private credit and financing solutions to middle-market
borrowers.
The Fund is led by Vivek Mathew as Chief Executive Officer and
President and Thomas Sweeney as Chief Financial Officer and
Principal Accounting Officer.
The Fund can be reached at:
Vivek Mathew
Antares Private Credit Fund
320 South Canal Street, Suite 4200
Chicago, IL 60606
Telephone: (312) 638-4119
About Cherry Bekaert Advisory LLC
Cherry Bekaert Advisory LLC is a professional services and advisory
firm.
CHICAGO, SUBURBAN: Initiates Chapter 7 Bankruptcy in Illinois
-------------------------------------------------------------
On April 2, 2026, Chicago, Suburban Express, Inc. filed for Chapter
7 protection in the U.S. Bankruptcy Court for the Northern District
of Illinois. According to court filings, the Debtor reports between
$1 million and $10 million in debt owed to between 50 and 99
creditors.
About Chicago, Suburban Express, Inc.
Chicago, Suburban Express, Inc. is a transportation and logistics
company that provides delivery and freight services across suburban
and metropolitan areas.
Chicago, Suburban Express, Inc. sought relief under Chapter 7 of
the U.S. Bankruptcy Code (Bankr. Case No. 26-05863) on April 2,
2026. In its petition, the Debtor reports estimated assets of
$100,001 to $1,000,000 and estimated liabilities of $1 million to
$10 million.
Honorable Bankruptcy Judge Nancy A. Peterman handles the case.
The Debtor is represented by Julia Jensen Smolka, Esq. of Robbins
Dimonte, Ltd.
CITY TOWERS: Seeks to Hire Charles Wertman as Bankruptcy Counsel
----------------------------------------------------------------
City Towers Ltd. seeks approval from the U.S. Bankruptcy Court for
the Southern District of New York to employ the Law Offices of
Charles Wertman PC to handle its Chapter 11 case.
The firm will be paid at these hourly rates:
Charles Wertman, Esq., Member $525
Paraprofessionals $150
In addition, the firm will seek reimbursement for expenses
incurred.
Prior to the filing date, the firm received a total sum of $9,238
from the Debtor.
Mr. Wertman disclosed in a court filing that the firm is a
"disinterested person" as the term is defined in Section 101(14) of
the Bankruptcy Code.
The firm can be reached through:
Charles Wertman, Esq.
Law Offices of Charles Wertman PC
100 Merrick Road, Suite 304W
Rockville Centre, NY 11570
Telephone: (516) 284-0900
Email: charles@cwertmanlaw.com
About City Towers Ltd.
City Towers Ltd. is a single asset real estate company.
City Towers Ltd. sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. S.D.N.Y. Case No. 26-10504) on March 10,
2026. In its petition, the Debtor reports estimated assets in the
range of $1 million to $10 million and estimated liabilities in the
range of $1 million to $10 million.
Honorable Bankruptcy Judge David S. Jones handles the case.
The Debtor is represented by the Law Offices of Charles Wertman PC.
CLIFFORD HARTFORD: Case Summary & Three Unsecured Creditors
-----------------------------------------------------------
Debtor: Clifford Hartofd LLC
20 Clifford Street
Hartford, CT 06114
Business Description: Clifford Hartofd LLC is a single-asset real
estate entity, as defined under 11 U.S.C.
Section 101(51B), focused on owning and
managing a single income-generating
property.
Chapter 11 Petition Date: April 5, 2026
Court: United States Bankruptcy Court
District of Connecticut
Case No.: 26-20329
Judge: Hon. James J Tancredi
Debtor's Counsel: Douglas S. Skalka, Esq.
NEUBERT PEPE & MONTEITH, PC
195 Church Street, 13th Floor
New Haven, CT 06510
E-mail: dskalka@npmlaw.com
Estimated Assets: $500,000 to $1 million
Estimated Liabilities: $1 million to $10 million
The petition was signed by Shmuel Aizenberg as manager.
A full-text copy of the petition, which includes a list of the
Debtor's three unsecured creditors, is available for free on
PacerMonitor at:
https://www.pacermonitor.com/view/JJ2QXGA/Clifford_Hartofd_LLC__ctbke-26-20329__0001.0.pdf?mcid=tGE4TAMA
COLD CHAIN: Antares PCF Marks $522,000 1L Loan at 44% Off
---------------------------------------------------------
Antares Private Credit Fund has marked its $522,000 loan extended
to Cold Chain Technologies, LLC to market at $293,000 or 56% of the
outstanding amount, according to Antares PCF's 10-K for the fiscal
year ended Dec. 31, 2025, filed with the U.S. Securities and
Exchange Commission.
Antares Private Credit Fund is a participant in a First Lien
Revolver loan extended to Cold Chain Technologies, LLC. The 1L Loan
accrues interest at a rate of S + 5.25%, 8.90% per annum. The 1L
Loan matures on July 2, 2027.
Antares Private Credit Fund is a business development company that
provides private credit and financing solutions to middle-market
borrowers.
The Fund is led by Vivek Mathew as Chief Executive Officer and
President and Thomas Sweeney as Chief Financial Officer and
Principal Accounting Officer.
The Fund can be reached at:
Vivek Mathew
Antares Private Credit Fund
320 South Canal Street, Suite 4200
Chicago, IL 60606
Telephone: (312) 638-4119
About Cold Chain Technologies, LLC
Cold Chain Technologies, LLC is a provider of
temperature-controlled packaging and logistics solutions.
COLIN STREET: Voluntary Chapter 11 Case Summary
-----------------------------------------------
Debtor: Conlin Street LLC
4420 Conlin St.
#301
Metairie, LA 70006
Chapter 11 Petition Date: April 7, 2026
Court: United States Bankruptcy Court
Eastern District of Louisiana
Case No.: 26-10831
Debtor's Counsel: Leo D. Congeni, Esq.
BROOKS GELPI HAASE', LLC
909 Poydras St., Suite 2325
New Orleans, LA 70112
Tel: (504) 224-6723
E-mail: lcongeni@brooksgelpi.com
Estimated Assets: $1 million to $10 million
Estimated Liabilities: $1 million to $10 million
The petition was signed by Jose L. Veras-Pola as member.
The Debtor has declared in the petition that it has no unsecured
creditors.
A full-text copy of the petition is available for free on
PacerMonitor at:
https://www.pacermonitor.com/view/3I2QBLY/Conlin_Street_LLC__laebke-26-10831__0001.0.pdf?mcid=tGE4TAMA
CONSCIOUS CONTENT: Hires Spencer Fane as Bankruptcy Co-Counsel
--------------------------------------------------------------
Conscious Content Media, Inc., doing business as Begin, and its
affiliates seek approval from the U.S. Bankruptcy Court for the
District of Delaware to employ Spencer Fane LLP as bankruptcy
co-counsel.
The firm's services include:
a. assisting the Debtors with preparation of all
applications, motions, answers, orders, reports, and other legal
papers necessary to the administration of the Debtors' estates;
b. negotiating, drafting, pursuing, and assisting the Debtors
in their preparation of all documents, reports, and papers
necessary for the administration of these Cases;
c. providing legal advice with respect to the powers and
duties of the Debtors as debtors in possession in these Cases in
the continued operation of its business and management of its
property, including with respect to a potential sale of the
Debtors' assets;
d. appearing in court and protecting the interests of the
Debtors before the Court in its capacity as bankruptcy co-counsel;
e. attending meetings and negotiating with representatives of
creditors, the U.S. Trustee, and other parties in interest;
f. performing all other legal services for the Debtors which
may be necessary and proper in this proceeding including, but not
limited to, advice in areas such as bankruptcy law, corporate law,
corporate governance, employment, transactional, litigation,
intellectual property, and other issues to the Debtors in
connection with the Debtors' ongoing business operations; and
g. performing all other services as may be required or deemed
necessary and in the best interests of the Debtors and their
estates in these Cases.
The firm will be paid at these rates:
Lauren F. McKelvey $850 per hour
Alex S. Anderson $445 per hour
Jillian Friend (paralegal) $425 per hour
Pursuant to Part D.1 of the U.S. Trustee Guidelines, Spencer Fane
hereby provides the following responses set forth below:
Question: Did you agree to any variations from, or alternatives
to, your standard or customary billing arrangements for this
engagement?
Answer: No.
Question: Do any of the professionals included in this
engagement vary their rate based on the geographic location of the
bankruptcy case?
Answer: No.
Question: If you represented the client in the 12 months
prepetition, disclose your billing rates and material financial
terms for the prepetition engagement, including any adjustments
during the 12 months prepetition. If your billing rates and
material financial terms have changed post petition, explain the
difference and the reasons for the difference.
Answer: Ms. McKelvey and Ms. Friend (paralegal) represented the
Debtors while at the RKR Firm in the 12 months prepetition. Spencer
Fane is charging the same rates for Ms. McKelvey and Ms. Friend as
the RKR Firm did, which are their standard hourly rates.
Question: Have the Debtors approved your prospective budget and
staffing plan, and, if so for what budget period?
Answer: The Debtors have approved an overall professional
budget, which includes the estimates for Spencer Fane's time
(formerly included in the budget for RKR's time) through an
estimated Plan Effective Date of May 15, 2026.
As disclosed in the court filings, Spencer Fane is a "disinterested
person" within the meaning of Section 101(14) of the Bankruptcy
Code.
The firm can be reached through:
Lauren Friend McKelvey, Esq.
Spence Fane LLP
1233 Twentieth Street NW, Suite 600
Washington, D.C. 20036
Tel: (202) 207-1185
Fax: (202) 293-0445
Email: lmckelvey@spencerfane.com
About Conscious Content Media Inc.
Conscious Content Media, Inc. develops and provides early learning
education technology products for children ages 2 to 10, offering
an age- and stage-based curriculum focused on school readiness and
skills such as literacy, mathematics, coding, creativity, and
social-emotional development. The company delivers its programs
through digital applications, physical learning kits, classes,
tutoring, and coaching, distributing them to schools and directly
to parents through subscription-based offerings. Its product
portfolio includes brands such as Homer, codeSpark, and Little
Passports.
The Debtors sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Del. Lead Case No. 25-12231) on Dec. 17,
2025, with $100 million to $500 million in lead debtor's assets and
liabilities. Neal Shenoy, chief executive officer, signed the
petition.
Judge Brendan Linehan Shannon presides over the case.
The Debtors tapped BAYARD, P.A., and REITLER KAILAS & ROSENBLATT
LLP as general bankruptcy counsel; Eisner Amper as financial
advisor; and Bankruptcy Management Solutions, Inc., d/b/a Stretto
as claims and noticing agent.
CORNERSTONE WELLNESS: Hires Fernandes & Charest as Accountant
-------------------------------------------------------------
Cornerstone Wellness Center, PC seeks approval from the U.S.
Bankruptcy Court for the District of Massachusetts to employ
Fernandes & Charest, PC as accountant.
The firm will render general bookkeeping and accounting as well as
assist the Debtor in the preparation and filing of its tax returns
and Chapter 11 reporting requirements.
The hourly rates of the firm's professionals are as follows:
Bookkeeping Services $125
Controller/Partner $275
Tax Preparation $150
The firm has received no retainer in this case.
Johnny Cordeiro, CPA at Fernandes & Charest, disclosed in a court
filing that the firm is a "disinterested person" as the term is
defined in Section 101(14) of the Bankruptcy Code.
The firm can be reached through:
Johnny Cordeiro
Fernandes & Charest, PC
1140 State Road
Westport, MA 02790
Telephone: (508) 636-6556
Email: johnny@fernandescharest.com
About Cornerstone Wellness Center PC
Cornerstone Wellness Center, P.C. sought protection for relief
under Chapter 11 of the Bankruptcy Code (Bankr. D. Mass. Case No.
26-10411) on February 27, 2026, listing $100,001 to $500,000 in
assets and $500,001 to $1 million in liabilities.
Judge Janet E. Bostwick handles the case.
The Debtor tapped David B. Madoff, Esq., at Madoff & Khoury LLP as
counsel and Johnny Cordeiro at Fernandes & Charest, PC as
accountant.
CROFT SCHOOL: Parents Urge Court to Place School in Receivership
----------------------------------------------------------------
Eli Sherman of WPRI.com 12 reports that a group of parents at The
Croft School has petitioned a Rhode Island judge to place the
institution into receivership, citing urgent financial distress
that could lead to staff furloughs by April 1. The emergency filing
describes a rapidly deteriorating situation threatening the
school's continued operations.
The petition alleges that founder Scott Given engaged in financial
misconduct, including maintaining dual accounting records and
hiding approximately $13 million in unsecured liabilities. Parents
contend that these actions left the school insolvent and unable to
meet its obligations, the report states.
The filing notes that a significant portion of the debt is owed to
parents themselves, many of whom pay substantial tuition and have
prepaid for future academic years. With the school’s finances in
disarray, those funds may not be recoverable.
Parents argue that appointing a receiver is the only viable
solution to manage the crisis, either by securing new funding or
supervising an orderly wind-down. The court has been asked to act
swiftly given the immediate risk to payroll and ongoing operations,
according to report.
About The Croft School
The Croft School is a private, nonsectarian educational institution
offering Kindergarten through Grade 8 programs across campuses in
Rhode Island and Massachusetts. Founded in 2018, the school
emphasizes a rigorous, student-centered curriculum designed to
foster academic excellence and critical thinking skills.
CVP HOLDCO: Antares PCF Marks $1.7MM 1L Loan at 77% Off
-------------------------------------------------------
Antares Private Credit Fund has marked its $1,715,000 loan extended
to CVP Holdco, Inc. to market at $392,000 or 23% of the outstanding
amount, according to Antares PCF's 10-K for the fiscal year ended
Dec. 31, 2025, filed with the U.S. Securities and Exchange
Commission.
Antares Private Credit Fund is a participant in a First Lien
Delayed Draw Term Loan extended to CVP Holdco, Inc. The 1L Loan
accrues interest at a rate of S + 4.75%, 8.42% per annum. The 1L
Loan matures on June 30, 2031.
Antares Private Credit Fund is a business development company that
provides private credit and financing solutions to middle-market
borrowers.
The Fund is led by Vivek Mathew as Chief Executive Officer and
President and Thomas Sweeney as Chief Financial Officer and
Principal Accounting Officer.
The Fund can be reached at:
Vivek Mathew
Antares Private Credit Fund
320 South Canal Street, Suite 4200
Chicago, IL 60606
Telephone: (312) 638-4119
About CVP Holdco, Inc.
CVP Holdco, Inc. operates as a holding company. The Company,
through its subsidiaries, offers investment services.
DADA MOE: Seeks Chapter 11 Bankruptcy in New Jersey
---------------------------------------------------
On April 2, 2026, Dada Moe Bistro LLC filed for Chapter 11
protection in the U.S. Bankruptcy Court for the District of New
Jersey. According to court filings, the Debtor reports between
$100,001 and $1,000,000 in debt owed to between 1 and 49
creditors.
About Dada Moe Bistro LLC
Dada Moe Bistro LLC is a hospitality business engaged in restaurant
and food service operations.
Dada Moe Bistro LLC sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. Case No. 26-13698) on April 2, 2026. In its
petition, the Debtor reports estimated assets of $0 to $100,000 and
estimated liabilities of $100,001 to $1,000,000.
The Debtor is represented by Andre L. Kydala, Esq. of Andre Kydala,
Esq.
DCG ACQUISITION: Antares PCF Marks $1.1MM 1L Loan at 31% Off
------------------------------------------------------------
Antares Private Credit Fund has marked its $1,169,000 loan extended
to DCG Acquisition Corp. to market at $812,000 or 69% of the
outstanding amount, according to Antares PCF's 10-K for the fiscal
year ended Dec. 31, 2025, filed with the U.S. Securities and
Exchange Commission.
Antares Private Credit Fund is a participant in a First Lien
Delayed Draw Term Loan extended to DCG Acquisition Corp. The 1L
Loan accrues interest at a rate of S + 5.00 % per annum. The 1L
Loan matures on June 13, 2031.
Antares Private Credit Fund is a business development company that
provides private credit and financing solutions to middle-market
borrowers.
The Fund is led by Vivek Mathew as Chief Executive Officer and
President and Thomas Sweeney as Chief Financial Officer and
Principal Accounting Officer.
The Fund can be reached at:
Vivek Mathew
Antares Private Credit Fund
320 South Canal Street, Suite 4200
Chicago, IL 60606
Telephone: (312) 638-4119
About DCG Acquisition Corp.
DCG Acquisition Corp. is a prominent automotive mergers and
acquisitions firm specializing in dealership buy/sell transactions.
DE VISU: Seeks to Hire Silverman Law PLLC as Bankruptcy Counsel
---------------------------------------------------------------
De Visu LLC seeks approval from the U.S. Bankruptcy Court for the
Eastern District of New York to hire Silverman Law PLLC as
counsel.
The firm's services include:
(a) advise the Debtor of its rights, powers, and duties in
continuing to operate and manage its assets and business;
(b) prepare on the Debtor's behalf all necessary and
appropriate legal documents to be filed in its Chapter 11 case;
(c) advise the Debtor concerning, and prepare responses to,
legal documents which may be filed in its Chapter 11 case;
(d) advise the Debtor concerning the actions it might take to
collect and recover property for the benefit of its estate;
(e) negotiate with creditors in connection with claims and
Chapter 11 plan;
(f) review and object to claims; and
(g) perform all other legal services for and on behalf of the
Debtor which may be necessary or appropriate in the administration
of its Chapter 11 case and fulfillment of its duties.
Brett Silverman, Esq., a managing member at Silverman Law, will be
paid at his hourly rate of $550 plus expenses.
The firm also received a retainer of $7,500 from the Debtor.
Mr. Silverman disclosed in a court filing that his firm is a
"disinterested person" as the term is defined in Section 101(14) of
the Bankruptcy Code.
The firm can be reached through:
Brett S. Silverman, Esq.
Silverman Law PLLC
4 Terry Terrace
Livinsgton, NJ 07039
Telephone: (646) 281-6008
Email: brett@getconciergelaw.com
About De Visu LLC
De Visu LLC sought protection for relief under Chapter 11 of the
Bankruptcy Code (Bankr. E.D.N.Y. Case NO. 26-71062) on March 18,
2026, listing up to $50,000 in both assets and liabilities.
Judge Louis A Scarcella presides over the case.
Brett Silverman, Esq. at Silveman Law PLLC serves as the Debtor's
counsel.
DIOCESE OF BUFFALO: Court Upholds 'Opt-Out' Liability Decision
--------------------------------------------------------------
James Nani of Bloomberg Law reports that a federal bankruptcy judge
refused to reconsider his prior decision blocking the Diocese of
Buffalo from imposing nonconsensual liability releases on creditors
under its $280 million reorganization plan. The ruling preserves
creditors' ability to pursue claims against church-related entities
unless they explicitly agree otherwise.
In a Friday, April 3, 2026, order, Chief Judge Carl L. Bucki denied
requests from both the diocese and a committee of abuse survivors
to revise his earlier determination. The parties had urged the
court to allow broader release provisions within the restructuring
framework, the report states.
The judge reiterated that any waiver of claims against third
parties must be based on clear, affirmative consent, rejecting the
idea that creditors could be bound by default through an opt-out
mechanism. His ruling underscores ongoing judicial scrutiny of
third-party releases in bankruptcy cases, according to report.
At the same time, Bucki approved a direct appeal to the US Court of
Appeals for the Second Circuit, acknowledging that the dispute
involves unsettled and important legal questions. The appellate
court's review could shape how similar provisions are treated in
future restructurings, according to Bloomberg Law.
About The Diocese of Buffalo N.Y.
The Diocese of Buffalo, N.Y., is home to nearly 600,000 Catholics
in eight counties in Western New York. The territory of the diocese
is co-extensive with the counties of Erie, Niagara, Genesee,
Orleans, Chautauqua, Wyoming, Cattaraugus, and Allegany in New York
State, comprising 161 parishes. There are 144 diocesan priests and
84 religious priests who reside in the Diocese.
The diocese through its central administrative offices (a) provides
operational support to the Catholic parishes, schools, and certain
other Catholic entities that operate within the territory of the
Diocese "OCE"; (b) conducts school operations through which it
provides parish schools with financial and educational support; (c)
provides comprehensive risk management services to the OCEs; (d)
administers a lay pension trust and a priest pension trust for the
benefit of certain employees and priests of the OCEs; and (e)
provides administrative support for St. Joseph Investment Fund,
Inc.
Dealing with sexual abuse claims, the Diocese of Buffalo sought
Chapter 11 protection (Bankr. W.D.N.Y. Case No. 20-10322) on Feb.
28, 2020. The diocese was estimated to have $10 million to $50
million in assets and $50 million to $100 million in liabilities as
of the bankruptcy filing.
The Honorable Carl L. Bucki is the case judge.
The Debtor tapped Bond, Schoeneck & King, PLLC, led by Stephen A.
Donato, Esq., as counsel; Connors LLP and Lippes Mathias Wexler
Friedman LLP as special litigation counsel; Jones Day as special
corporate governance counsel; and Phoenix Management Services, LLC
as financial advisor. Stretto is the claims agent, maintaining the
page: https://case.stretto.com/dioceseofbuffalo/docket
The U.S. Trustee for Region 2 appointed a committee of unsecured
creditors on March 12, 2020. The committee tapped Pachulski Stang
Ziehl & Jones, LLP and Gleichenhaus, Marchese & Weishaar, PC as
bankruptcy counsel, and Burns Bair LLP as special insurance
counsel.
DIOCESE OF BUFFALO: Taps Century 21 Turner Brokers as Realtor
-------------------------------------------------------------
The Diocese of Buffalo, N.Y. seeks approval from the U.S.
Bankruptcy Court for the Western District of New York to employ
Turner Brokers, Inc., doing business as Century 21 Turner Brokers,
as real estate broker.
The broker will render these services:
a. advertise and market the Debtor's real property located at
36 E. Main Street, Panama, New York 14767 for sale;
b. undertake to find a purchaser for the property, upon terms
and conditions acceptable to the Diocese;
c. make available to prospective purchasers, upon request,
information regarding the availability of inspections of the
property;
d. report to the Diocese regarding expressions of interest in
the Property;
e. assist in preparing a purchase offer with an attorney
approval clause;
f. follow up with purchaser and/or purchaser's designee once a
contract is negotiated; and
g. update the Diocese regarding fulfillment of contract
contingencies.
The firm will receive these fees:
a) 6% of the selling price to Broker; and
b) solely with respect to a sale where the successful buyer of
the property was properly represented by a broker (the Cooperating
Broker) who has registered with Broker, 3% of the selling price to
each of Broker and the cooperating broker.
As disclosed in the court filings, Century 21 Turner Brokers is a
"disinterested person" as that term is defined in section 101(14)
of the Bankruptcy Code, as modified by section 1107(b), and does
not hold or represent an interest adverse to the Diocese's estate.
The firm can be reached through:
Sandra Calalesina
Turner Brokers, Inc.
dba Century 21 Turner Brokers
4 E. Fairmount Avenue
Lakewood, NY 14750
About The Diocese of Buffalo N.Y.
The Diocese of Buffalo, N.Y., is home to nearly 600,000 Catholics
in eight counties in Western New York. The territory of the diocese
is co-extensive with the counties of Erie, Niagara, Genesee,
Orleans, Chautauqua, Wyoming, Cattaraugus, and Allegany in New York
State, comprising 161 parishes. There are 144 diocesan priests and
84 religious priests who reside in the Diocese.
The diocese through its central administrative offices (a) provides
operational support to the Catholic parishes, schools, and certain
other Catholic entities that operate within the territory of the
Diocese "OCE"; (b) conducts school operations through which it
provides parish schools with financial and educational support; (c)
provides comprehensive risk management services to the OCEs; (d)
administers a lay pension trust and a priest pension trust for the
benefit of certain employees and priests of the OCEs; and (e)
provides administrative support for St. Joseph Investment Fund,
Inc.
Dealing with sexual abuse claims, the Diocese of Buffalo sought
Chapter 11 protection (Bankr. W.D.N.Y. Case No. 20-10322) on Feb.
28, 2020. The diocese was estimated to have $10 million to $50
million in assets and $50 million to $100 million in liabilities as
of the bankruptcy filing.
The Honorable Carl L. Bucki is the case judge.
The Debtor tapped Bond, Schoeneck & King, PLLC, led by Stephen A.
Donato, Esq., as counsel; Connors LLP and Lippes Mathias Wexler
Friedman LLP as special litigation counsel; Jones Day as special
corporate governance counsel; and Phoenix Management Services, LLC
as financial advisor. Stretto is the claims agent, maintaining the
page: https://case.stretto.com/dioceseofbuffalo/docket
The U.S. Trustee for Region 2 appointed a committee of unsecured
creditors on March 12, 2020. The committee tapped Pachulski Stang
Ziehl & Jones, LLP and Gleichenhaus, Marchese & Weishaar, PC as
bankruptcy counsel, and Burns Bair LLP as special insurance
counsel.
DOLPHIN SHORES: Hires Berkshire Hathaway as Real Estate Agent
-------------------------------------------------------------
Dolphin Shores Investments LLC seeks approval from the U.S.
Bankruptcy Court for the Eastern District of North Carolina to hire
Berkshire Hathaway HomeServices Carolina Premier Properties as real
estate agent.
The firm will market and sell the Debtor's property, identified as
Building F located at 2272 Dolphin Shores Drive SW, Supply, NC
28462.
The firm will be paid a commission equal to 5 percent of the gross
sales price.
As disclosed in the court filings, Berkshire Hathaway HomeServices
Carolina Premier Properties is a "disinterested person" within the
meaning of 11 U.S.C. 101(14).
The firm can be reached through:
Caylin Hawkins
Berkshire Hathaway HomeServices
Carolina Premier Properties
1612 Military Cutoff Road Suite 200
Wilmington, NC 38403
Phone: (910) 470-2850
Email: chawkins@bhhscpp.com
About Dolphin Shores Investments LLC
Dolphin Shores Investments LLC is a single asset real estate
company.
Dolphin Shores Investments LLC sought relief under Chapter 11 of
the U.S. Bankruptcy Code (Bankr. E.D.N.C. Case No. 25-04467) on
November 9, 2025. In its petition, the Debtor reports estimated
assets and liabilities between $10 million and $50 million each.
Honorable Bankruptcy Judge David M. Warren handles the case.
The Debtor is represented by Clayton W. Cheek, Esq. of Cheek Legal,
PLLC.
DOLPHIN SHORES: Hires Cape Fear Real Estate Group as Appraiser
--------------------------------------------------------------
Dolphin Shores Investments, LLC seeks approval from the U.S.
Bankruptcy Court for the Eastern District of North Carolina to hire
Cape Fear Real Estate Group, LLC as appraiser.
The firm will evaluate and appraise the Debtor's real properties
located in each of the following locations:
a. 7 pad sites + 5.72-acres vacant land located along Dolphin
Shores Drive, Supply, North Carolina;
b. 1.87-acres vacant land located along Boone's Neck Road,
Supply, North Carolina; and,
c. 24-unit Condo Building located at 2272 Dolphin Shores
Drive, Supply, North Carolina.
The firm will receive a flat fee of $7,000 for its services. Any
expert witness services related to the evaluation and appraisal
will be billed at a rate of $400 per hour.
As disclosed in the court filings, Cape Fear does not hold or
represent any interest adverse to the Debtor or the estate.
The firm can be reached through:
Samuel H. Pate
Cape Fear Real Estate Group, LLC
3904 Oleander Drive, Suite 200
Wilmington, NC 28403
Tel: (910) 833-8291
Fax: (910) 833-8293
About Dolphin Shores Investments
Dolphin Shores Investments LLC is a single asset real estate
company in Wilmington, N.C.
Dolphin Shores Investments sought relief under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. E.D.N.C. Case No. 25-04467) on
November 9, 2025. In its petition, the Debtor reported between $10
million and $50 million in both assets and liabilities.
Honorable Bankruptcy Judge David M. Warren handles the case.
The Debtor is represented by Clayton W. Cheek, Esq., at Cheek
Legal, PLLC.
DOLPHIN SHORES: Hires Starheel Properties as Property Manager
-------------------------------------------------------------
Dolphin Shores Investments LLC seeks approval from the U.S.
Bankruptcy Court for the Eastern District of North Carolina to hire
Starheel Properties, Inc., as property manager.
The firm will be retained to market and manage the rental of 24
condominium units (12 three-bedroom units and 12 two-bedroom units)
located at '2272 Dolphin Shores Drive SW, Supply, Brunswick County,
North Carolina 28462'.
Services shall be rendered at a rate of 8 percent of total gross
rental income received on all rental agreements.
Additional fees include:
a. A one-time fee of $150 due at signing of the Property
Management Agreement;
b. Maintenance handling fees of 15 percent up to the first
$200 plus five percent on any remaining amount over $200, with a
minimum charge of $25 per invoice; and,
c. Annual property inspection fee of $150 for three (3)
inspections per year.
The firm will also be entitled to:
-- $250 per unit once rented and one percent (1%) of the rental
income for twenty-four (24) months when cooperating with subagents;
and
-- Late payment fees and returned check fees collected from
tenants.
Starheel Properties, Inc. is a "disinterested person" within the
meaning of 11 U.S.C. Sec. 101(14).
The firm can be reached through:
Courtney Devlin
James Devlin
Starheel Properties, Inc
10140 Beach Dr SW #8
Calabash, NC 28467
Phone: (910) 579-9434
Email: starheel@starheelproperties.com
About Dolphin Shores Investments LLC
Dolphin Shores Investments LLC is a single asset real estate
company.
Dolphin Shores Investments LLC sought relief under Chapter 11 of
the U.S. Bankruptcy Code (Bankr. E.D.N.C. Case No. 25-04467) on
November 9, 2025. In its petition, the Debtor reports estimated
assets and liabilities between $10 million and $50 million each.
Honorable Bankruptcy Judge David M. Warren handles the case.
The Debtor is represented by Clayton W. Cheek, Esq. of Cheek Legal,
PLLC.
DOWNTOWN GRAND: Prepares for Sale of Property in Receivership
-------------------------------------------------------------
The Downtown Grand hotel‑casino in Las Vegas has been operating
under a court‑appointed receiver since early January after the
property's owners defaulted on a $90 million construction loan,
Clark County court records show. The receivership places control of
the hotel‑casino in the hands of a neutral third party as the
property is readied for sale.
On Januar 5, 2026, a judge approved the appointment of a receiver
at the request of Banc of California, the lender on the defaulted
loan, with an amended order following on Jan. 6 to clarify the
receiver's powers. Under these orders, the receiver has authority
over the property and ownership entities tied to the casino, the
report states.
A stipulation and order filed March 5 and noticed March 25
indicates that those efforts are now focused on a formal sale
process. Receiver Paul Huygens of Province LLC has started actively
marketing the Downtown Grand, located on North 3rd Street and Ogden
Avenue, to potential buyers as part of the receivership
administration.
About Downtown Grand
The Downtown Grand Hotel & Casino is a Las Vegas hospitality and
gaming complex owned by CIM Group, with operations overseen by
Fifth Street Gaming, and located near the Fremont Street Experience
in downtown Las Vegas.
Las Vegas’s Downtown Grand Hotel & Casino entered receivership in
January 2026 after defaulting on a $90 million construction loan.
The court appointed Paul Huygens as receiver, granting him control
over operations and financial decisions, including marketing the
property for sale.
DWYER INSTRUMENTS: Antares PCF Marks $706,000 1L Loan at 65% Off
----------------------------------------------------------------
Antares Private Credit Fund has marked its $706,000 loan extended
to Dwyer Instruments, LLC to market at $246,000 or 35% of the
outstanding amount, according to Antares PCF's 10-K for the fiscal
year ended Dec. 31, 2025, filed with the U.S. Securities and
Exchange Commission.
Antares Private Credit Fund is a participant in a First Lien
Revolver loan extended to Dwyer Instruments, LLC. The 1L Loan
accrues interest at a rate of S + 4.75 %, 8.40 % per annum. The 1L
Loan matures on July 20, 2029.
Antares Private Credit Fund is a business development company that
provides private credit and financing solutions to middle-market
borrowers.
The Fund is led by Vivek Mathew as Chief Executive Officer and
President and Thomas Sweeney as Chief Financial Officer and
Principal Accounting Officer.
The Fund can be reached at:
Vivek Mathew
Antares Private Credit Fund
320 South Canal Street, Suite 4200
Chicago, IL 60606
Telephone: (312) 638-4119
About Dwyer Instruments, LLC
Dwyer Instruments, LLC provides instrumentation solutions. The
Company manufactures environmental sensors and monitoring equipment
that are used in a wide variety of applications, including food and
water processing, heating, cooling, and ventilation systems.
EDDIE BAUER: Committee Taps Pachulski Stang Ziehl as Counsel
------------------------------------------------------------
The official committee of unsecured creditors of Eddie Bauer LLC
and affiliates seeks approval from the U.S. Bankruptcy Court for
the District of New Jersey to employ Pachulski Stang Ziehl & Jones
LLP as its counsel.
The firm's services include:
a. assisting, advising, and representing the Committee in its
consultations with the Debtors regarding the administration of
these Cases;
b. assisting, advising, and representing the Committee with
respect to the Debtors' retention of professionals and advisors
with respect to the Debtors' business and these Cases;
c. assisting, advising, and representing the Committee in
analyzing the Debtors' assets and liabilities, investigating the
extent and validity of liens and participating in and reviewing any
proposed asset sales, any asset dispositions, financing
arrangements, and cash collateral stipulations or proceedings;
d. assisting, advising, and representing the Committee in any
manner relevant to reviewing and determining the Debtors' rights
and obligations under leases and other executory contracts;
e. assisting, advising, and representing the Committee in
investigating the acts, conduct, assets, liabilities, and financial
condition of the Debtors, the Debtors' operations, and the
desirability of the continuance of any portion of those operations,
and any other matters relevant to the Cases or to the formulation
of a plan;
f. assisting, advising, and representing the Committee in
connection with any sale of the Debtors' assets;
g. assisting, advising, and representing the Committee in its
participation in the negotiation, formulation, or objection to any
plan of liquidation or reorganization;
h. assisting, advising, and representing the Committee in
understanding its powers and its duties under the Bankruptcy Code
and the Bankruptcy Rules and in performing other services as are in
the interests of those represented by the Committee;
i. assisting, advising, and representing the Committee in the
evaluation of claims and on any litigation matters, including
avoidance actions; and
j. providing such other services to the Committee as may be
necessary in these Cases.
The firm's current rates are:
Partners/Counsel $1,150 to $2,695 per hour
Associates $725 to $1,350 per hour
Paralegals $625 to $695 per hour
The firm will seek reimbursement of out-of-pocket expenses.
The firm provides the following responses to the questions set
forth in Part D of the Appendix B Guidelines for Reviewing
Applications for Compensation and Reimbursement of Expenses Filed
under United States Code by Attorneys in Larger Chapter 11 Cases
(the "Revised UST Guidelines"):
Question: Did you agree to any variations from, or alternatives
to, your standard or customary billing arrangements for this
engagement?
Response: No.
Question: Do any of the professionals included in this
engagement vary their rate based on the geographic location of the
bankruptcy case?
Response: No.
Question: If you represented the client in the 12 months
prepetition, disclose your billing rates and material financial
terms for the prepetition engagement, including any adjustments
during the 12 months prepetition. If your billing rates and
material financial terms have changed post-petition, explain the
difference and reasons for the difference.
Response: PSZ&J did not represent the client in the 12 month
period prepetition.
Question: Has your client approved your respective budget and
staffing plan, and, if so, for what budget period?
Response: The firm anticipates that the Committee's professional
fees will be initially governed by the Debtor in Possession
Financing order and budget approved in these cases.
Bradford J. Sandler, Esq., a partner at Pachulski Stang Ziehl &
Jones LLP, disclosed in a court filing that the firm is a
"disinterested person" as the term is defined in Section 101(14) of
the Bankruptcy Code.
The firm can be reached at:
Bradford J. Sandler, Esq.
Robert J. Feinstein, Esq.
Pachulski Stang Ziehl & Jones LLP
1700 Broadway, 36th Floor
New York, NY 10019
Telephone: (212) 561-7700
Facsimile: (212) 561-7777
Email: bsandler@pszjlaw.com
rfeinstein@pszjlaw.com
About Eddie Bauer LLC
Eddie Bauer is an outdoor apparel brand was founded in Seattle in
1920 and has built a reputation around clothing and gear for
hiking, travel, and outdoor recreation. It sells outdoor apparel,
footwear, and equipment designed for travel and adventure. The
company currently reports operating over 250 locations throughout
North America.
Eddie Bauer LLC sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D.N.J. Case No. 26-11422) on February 9,
2026. In its petition, the Debtor reports $100,000,001 to $500
million in assets and $1,000,000,001 to $10 billion in
liabilities.
Honorable Bankruptcy Judge Stacey L. Meisel handles the case.
The Debtor is represented by Michael D. Sirota, Esq. of Cole Schotz
P.C. Kirkland & Ellis LLP and Kirkland & Ellis International LLP as
counsel. GBH SOLIC Holdco, LLC d/b/a SOLIC Capital Advisors as
investment banker. Stretto, Inc. as administrative advisor.
EDDIE BAUER: Committee Taps Province LLC as Financial Advisor
-------------------------------------------------------------
The official committee of unsecured creditors of Eddie Bauer LLC
and affiliates seeks approval from the U.S. Bankruptcy Court for
the District of New Jersey to employ Province, LLC as financial
advisor.
The firm will provide these services:
(a) become familiar with and analyzing the
Debtor-in-Possession (DIP)/Cash Collateral budget, assets and
liabilities, and overall financial condition;
(b) review financial and operational information furnished by
the Debtors;
(c) monitor the sale process, interfacing with the Debtors'
professionals, and advise the committee regarding the process;
(d) scrutinize the economic terms of various agreements;
(e) analyze the Debtors' proposed business plans and
developing alternative scenarios, if necessary;
(f) assess the Debtors' various pleadings and proposed
treatment of unsecured creditor claims therefrom;
(g) prepare, or review as applicable, avoidance action and
claim analyses;
(h) assist the committee in reviewing the Debtors' financial
reports;
(i) advise the committee on the current state of this Chapter
11 cases;
(j) advise the committee in negotiations with the Debtors and
third parties as necessary;
(k) if necessary, participate as a witness in hearings before
the Court with respect to matters upon which Province has provided
advice; and
(l) other activities as are approved by the committee, its
counsel, and as agreed to by Province.
The firm received a retainer of $5,000 from the Debtors.
As of January 1, 2026, Province's hourly rates are as follows:
Managing Directors and Partners $900 -
$1,600
Vice Presidents, Directors,
and Senior Directors $700 -
$1,050
Analysts, Associates, and Senior Associates $370 - $750
Paraprofessional/Admin/Interns $270 - $380
Sanjuro Kietlinski, a partner at Province, disclosed in a court
filing that the firm is a "disinterested person" as the term is
defined in Section 101(14) of the Bankruptcy Code.
The firm can be reached through:
Sanjuro Kietlinski
Province, LLC
2360 Corporate Circle, Suite 340
Hendersn, NV 89074
About Eddie Bauer LLC
Eddie Bauer is an outdoor apparel brand was founded in Seattle in
1920 and has built a reputation around clothing and gear for
hiking, travel, and outdoor recreation. It sells outdoor apparel,
footwear, and equipment designed for travel and adventure. The
company currently reports operating over 250 locations throughout
North America.
Eddie Bauer LLC sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D.N.J. Case No. 26-11422) on February 9,
2026. In its petition, the Debtor reports $100,000,001 to $500
million in assets and $1,000,000,001 to $10 billion in
liabilities.
Honorable Bankruptcy Judge Stacey L. Meisel handles the case.
The Debtor is represented by Michael D. Sirota, Esq. of Cole Schotz
P.C. Kirkland & Ellis LLP and Kirkland & Ellis International LLP as
counsel. GBH SOLIC Holdco, LLC d/b/a SOLIC Capital Advisors as
investment banker. Stretto, Inc. as administrative advisor.
EDGECO BUYER: Antares PCF Marks $2.7MM 1L Loan at 16% Off
---------------------------------------------------------
Antares Private Credit Fund has marked its $2,769,000 loan extended
to Edgeco Buyer, Inc. to market at $2,334,000 or 84% of the
outstanding amount, according to Antares PCF's 10-K for the fiscal
year ended Dec. 31, 2025, filed with the U.S. Securities and
Exchange Commission on March 19, 2026.
Antares Private Credit Fund is a participant in a First Lien
Delayed Draw Term Loan extended to Edgeco Buyer, Inc. The 1L Loan
accrues interest at a rate of S + 4.50%, 8.15% per annum. The 1L
Loan matures on June 1, 2028.
Antares Private Credit Fund is a business development company that
provides private credit and financing solutions to middle-market
borrowers.
The Fund is led by Vivek Mathew as Chief Executive Officer and
President and Thomas Sweeney as Chief Financial Officer and
Principal Accounting Officer.
The Fund can be reached at:
Vivek Mathew
Antares Private Credit Fund
320 South Canal Street, Suite 4200
Chicago, IL 60606
Telephone: (312) 638-4119
About Edgeco Buyer, Inc.
Edgeco Buyer, Inc. provides financial services. The Company offers
its services in the United States.
EL SALTO RANCHES: Hires Scott M. Davidson as Special Counsel
------------------------------------------------------------
El Salto Ranches LLC seeks approval from the U.S. Bankruptcy Court
for the District of New Mexico to hire The Law Office of Scott M.
Davidson, Ph.D., Esq. as special counsel.
The professional services the firm is to render are:
a. representing Debtor for an appeal of a judgment entered in
Case No. D820-CV-2021-00374, MKM Real Estate, LLC v. El Salto
Ranches, LLC and Jacqueline Huggett. The Firm was also retained to
represent co-defendant Jacqueline Huggett, a member of the Debtor.
The appeal has been docketed as Case No. A-1-CA-42634 and is
currently pending in the New Mexico Court of Appeals.
b. representing Debtor in district court proceedings seeking
relief from the judgment in Case No. D-820-CV-2021-00374 pursuant
to Rule 1-060(B).
As disclosed in the court filings, Scott M. Davidson is a
"disinterested person" within the meaning of 11 U.S.C. Sec.
101(14).
The firm can be reached through:
Scott M. Davidson, Esq.
The Law Office of Scott M. Davidson
1011 Lomas Blvd NW, Suite 101
Albuquerque, NM 87102
Phone: (505) 302-2027
About El Salto Ranches LLC
El Salto Ranches LLC is a New Mexico-based agricultural and
ranching company that owns and operates cattle ranches and related
land holdings. The company provides livestock management, grazing
services, and property maintenance across its New Mexico
operations.
El Salto Ranches LLC sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. Case No. 26-10147) on February 6, 2026. In
its petition, the debtor reports estimated assets between $1
million and $10 million and liabilities between $100,001 and
$1,000,000.
Honorable Bankruptcy Judge Robert H. Jacobvitz handles the case.
The debtor is represented by Christopher M. Gatton, Esq. of Gatton
& Associates, P.C.
EXPRESS STORES: Gets Interim OK to Use Cash Collateral
------------------------------------------------------
Express Stores, LLC received interim approval from the U.S.
Bankruptcy Court for the Northern District of Texas, Fort Worth
Division, to use cash collateral to fund operations.
The court authorized the Debtor to use cash collateral in
accordance with its budget through April 28 or until the dismissal
or conversion of its Chapter 11 case; the appointment of a trustee
or examiner with expanded powers; the effective date or
consummation of a plan of reorganization; or the entry of an order
reversing, staying, vacating or otherwise modifying
in any material respect the terms of the interim order.
Express Stores owns a gas station and convenience store property in
Rio Vista, Texas, which it leases to third-party operators. Having
filed for bankruptcy on March 2, the company asserts that it lacks
alternative sources of revenue to maintain operations and preserve
the value of the estate. The Debtor intends to use its cash
collateral to fund essential expenses, including property
maintenance, insurance, and payments to its senior secured lender,
Golden Bank National Association, as outlined in a two-month
interim budget totaling $17,573.
Golden Bank and SEI Fuel Services, Inc. are the primary secured
creditors with interests in the Debtor's assets and cash
collateral. Golden Bank holds liens related to a $750,000 loan and
additional debt associated with affiliated entities, while SEI Fuel
Services asserts a security interest linked to a fuel supply
agreement.
As adequate protection, the Debtor offers granting them replacement
liens on post-petition assets and making payments to Golden Bank.
These replacement liens would be subject to a "carve-out" for
essential administrative fees owed to the court and the U.S.
Trustee.
The Debtor emphasizes that the fair market value of the underlying
real estate significantly exceeds the secured debt, providing a
"safety cushion" for the lenders.
A copy of the order is available at https://is.gd/vUqH26 from
PacerMonitor.com.
About Express Stores
Inc.
Express Stores, Inc., doing business as Boney Joe's, operates a
convenience store and gas station at Rio Vista, Texas, providing
fuel, snacks, beverages, and other retail items.
Express Stores sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. N.D. Tex. Case No. 26-40963) on March 2,
2026. In the petition signed by Qasim Saeed, president, the Debtor
disclosed up to $10 million in both assets and liabilities.
Joseph F. Postnikoff, Esq., at Rochelle McCullough, LLP serves the
Debtor as counsel.
EXTREME GROUP: Case Summary & Six Unsecured Creditors
-----------------------------------------------------
Debtor: Extreme Group, Inc.
14902 N. Freeway Service Rd.
Houston, TX 77090
Business Description: Extreme Group, Inc., classified under NAICS
5311, is a single-asset real estate company
(as defined in 11 U.S.C. Section 101(51B))
that owns and leases a commercial property
located at 14902 N. Freeway Service Rd. in
Houston, Texas.
Chapter 11 Petition Date: April 6, 2026
Court: United States Bankruptcy Court
Southern District of Texas
Case No.: 26-32355
Debtor's Counsel: Jack N. Fuerst, Esq.
JACK N. FUERST, ATTORNEY AT LAW
2500 Tanglewilde St., Ste 320
Houston, TX 77063
Tel: 713-299-8221
Fax: 713-583-5944
E-mail: jfuerst@sbcglobal.net
Estimated Assets: $1 million to $10 million
Estimated Liabilities: $1 million to $10 million
The petition was signed by Mohammad Hanif as CEO.
A full-text copy of the petition, which includes a list of the
Debtor's six unsecured creditors, is available for free on
PacerMonitor at:
https://www.pacermonitor.com/view/NHCRR7Q/Extreme_Group_Inc__txsbke-26-32355__0001.0.pdf?mcid=tGE4TAMA
FLINT OPCO: Antares PCF Marks $6.2MM 1L Loan at 58% Off
-------------------------------------------------------
Antares Private Credit Fund has marked its $6,259,000 loan extended
to Flint Opco, LLC to market at $2,654,000 or 42% of the
outstanding amount, according to Antares PCF's 10-K for the fiscal
year ended Dec. 31, 2025, filed with the U.S. Securities and
Exchange Commission.
Antares Private Credit Fund is a participant in a First Lien
Delayed Draw Term Loan extended to Flint Opco, LLC. The 1L Loan
accrues interest at a rate of S + 4.75%, 8.40% per annum. The 1L
Loan matures on Aug. 15, 2030.
Antares Private Credit Fund is a business development company that
provides private credit and financing solutions to middle-market
borrowers.
The Fund is led by Vivek Mathew as Chief Executive Officer and
President and Thomas Sweeney as Chief Financial Officer and
Principal Accounting Officer.
The Fund can be reached at:
Vivek Mathew
Antares Private Credit Fund
320 South Canal Street, Suite 4200
Chicago, IL 60606
Telephone: (312) 638-4119
About Flint OpCo, LLC
Flint OpCo, LLC offers building maintenance services. The Company
focuses on building repairs, landscape maintenance, and pest
control.
FLORIDA KEYS LOBSTER: Starts Chapter 11 Bankruptcy in Florida
-------------------------------------------------------------
On April 3, 2026, Florida Keys Lobster House, Inc. filed for
Chapter 11 protection in the U.S. Bankruptcy Court for the Southern
District of Florida. According to court filings, the Debtor reports
between $1 million and $10 million in debt owed to between 1 and 49
creditors.
About Florida Keys Lobster House, Inc.
Florida Keys Lobster House, Inc. is a hospitality company engaged
in restaurant operations, specializing in seafood dining and
related food service offerings.
Florida Keys Lobster House, Inc. sought relief under Chapter 11 of
the U.S. Bankruptcy Code (Bankr. Case No. 26-14233) on April 3,
2026. In its petition, the Debtor reports estimated assets of $0 to
$100,000 and estimated liabilities of $1 million to $10 million.
The Debtor is represented by Chad T. Van Horn, Esq.
FORESIDE FINANCIAL: Antares PCF Marks $11.6M 1L Loan at 86% Off
---------------------------------------------------------------
Antares Private Credit Fund has marked its $11,639,000 loan
extended to Foreside Financial Group, LLC to market at $1,589,000
or 14% of the outstanding amount, according to Antares PCF's 10-K
for the fiscal year ended Dec. 31, 2025, filed with the U.S.
Securities and Exchange Commission.
Antares Private Credit Fund is a participant in a First Lien
Delayed Draw Term Loan extended to Foreside Financial Group, LLC.
The 1L Loan accrues interest at a rate of S + 5.25%, 9.05% per
annum. The 1L Loan matures on Sept. 30, 2027.
Antares Private Credit Fund is a business development company that
provides private credit and financing solutions to middle-market
borrowers.
The Fund is led by Vivek Mathew as Chief Executive Officer and
President and Thomas Sweeney as Chief Financial Officer and
Principal Accounting Officer.
The Fund can be reached at:
Vivek Mathew
Antares Private Credit Fund
320 South Canal Street, Suite 4200
Chicago, IL 60606
Telephone: (312) 638-4119
About Foreside Financial Group, LLC
Foreside Financial Group, LLC is a financial services and
compliance solutions provider.
FR VISION: Antares PCF Virtually Writes Off $2.1MM 1L Loan
----------------------------------------------------------
Antares Private Credit Fund has marked its $2,134,000 loan extended
to FR Vision Holdings Inc to market at $101,000 or 5% of the
outstanding amount, according to Antares PCF's 10-K for the fiscal
year ended Dec. 31, 2025, filed with the U.S. Securities and
Exchange Commission on March 19, 2026.
Antares Private Credit Fund is a participant in a First Lien
Delayed Draw Term Loan extended to FR Vision Holdings Inc. The 1L
Loan accrues interest at a rate of S + 5.00%, 8.65% per annum. The
1L Loan matures on Jan. 20, 2031.
Antares Private Credit Fund is a business development company that
provides private credit and financing solutions to middle-market
borrowers.
The Fund is led by Vivek Mathew as Chief Executive Officer and
President and Thomas Sweeney as Chief Financial Officer and
Principal Accounting Officer.
The Fund can be reached at:
Vivek Mathew
Antares Private Credit Fund
320 South Canal Street, Suite 4200
Chicago, IL 60606
Telephone: (312) 638-4119
About FR Vision Holdings Inc.
FR Vision Holdings Inc. offers management consulting services. The
Company provides process re-design, technology, and change
management services.
GALAXY TREE: Hires Gudeman & Associates PC as Bankruptcy Counsel
----------------------------------------------------------------
Galaxy Tree Service, LLC seeks approval from the U.S. Bankruptcy
Court for the Eastern District of Michigan to hire Gudeman &
Associates, P.C. as attorneys.
The firm will advise the Debtor regarding its duties under the
Bankruptcy Code and will provide other legal services related to
its Chapter 11 case.
The firm will be paid at these rates:
Edward J. Gudeman $500 per hour
Michael Kuper $350 per hour
Elaine M. Niforos $250 per hour
Samantha Miller $150 per hour
The firm received from the Debtor $11,738 as a retainer, inclusive
of $1,738 filing fee.
The firm will also be reimbursed for reasonable out-of-pocket
expenses incurred.
Edward J. Gudeman, Esq., a partner at Gudeman & Associates, P.C.,
disclosed in a court filing that the firm is a "disinterested
person" as the term is defined in Section 101(14) of the Bankruptcy
Code.
The firm can be reached at:
Edward J. Gudeman, Esq.
Gudeman & Associates, P.C.
1026 W. 11 Mile Road
Royal Oak, MI 48067
Tel: (248) 546-2800
Email: ecf@gudemanlaw.com
About Galaxy Tree Service, LLC
Galaxy Tree Service, LLC, based in Troy, Michigan, provides
professional tree care and removal services for residential and
commercial clients across Southeastern Michigan. The company's
operations include tree trimming and pruning, tree and stump
removal, land and lot clearing, debris cleanup, storm damage
response, and crane-assisted services. It operates as a licensed
and insured arboriculture service provider with a team of certified
professionals.
The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. E.D. Mich. Case No. 26-42371) on March 6,
2026. In the petition signed by Robert Pachana, CEO, the Debtor
disclosed up to $50,000 in assets and up to $10 million in
liabilities.
Judge Maria L. Oxholm oversees the case.
Edward J. Gudeman, Esq., at GUDEMAN & ASSOCIATES, PC, represents
the Debtor as legal counsel.
GENERAL MILLS: S&P Rates Proposed Subordinated Notes 'BB+'
----------------------------------------------------------
S&P Global Ratings affirmed all of its ratings on U.S.-based
General Mills Inc., including the 'BBB' issuer credit rating.
S&P also assigned its 'BB+' issue-level rating to the proposed
junior subordinated notes. The rating is two notches below the
issuer credit rating, reflecting its subordination and interest
deferability feature.
The stable outlook reflects that despite a profit contraction in
fiscal 2026 and S&P's expectation for a muted recovery in fiscal
2027, General Mills will continue to generate solid free operating
cash flow and maintain supportive financial policies consistent
with sustaining leverage below 4x.
General Mills is issuing new junior subordinated euro-denominated
notes due 2056. It intends to use the proceeds to refinance
upcoming maturities.
S&P said, "We assigned intermediate equity content to the hybrid
instrument. As a result, the transaction will be modestly
deleveraging.
"General Mills' credit metrics were weaker than expected in the
third quarter (ending February) of fiscal 2026, but we expect the
hybrid issuance--combined with stronger profitability in the fourth
quarter--will facilitate deleveraging slightly below 4x at the end
of fiscal 2026.
"We view the proposed subordinated notes as hybrid capital. General
Mills intends to raise fixed-to-fixed junior subordinated
euro-denominated notes. It will use the proceeds from the offering
to repay outstanding debt, including EUR250 million outstanding of
floating rate senior notes due April 2026, $750 million outstanding
of its 3.20% senior notes due February 2027, and outstanding
commercial paper. The offering will be completed across two series,
both maturing in 2056. Both will be unsecured obligations and rank
junior to the company's existing and future senior unsecured debt.
We consider this junior subordinated debt issuance to be hybrid
capital that can absorb losses or conserve cash if needed, and as
such, we classify it as having intermediate equity content (50%
equity treatment). We rate the proposed notes 'BB+', two notches
below our 'BBB' issuer credit rating on the company. One notch
reflects the notes' subordination relative to General Mills' other
debt obligations. The second notch reflects payment flexibility due
to the optional deferability of the interest payments.
"We expect leverage will be restored and maintained below 4x by the
end of fiscal 2026. General Mills' operating performance continued
to be challenged in the third quarter (ending February) of fiscal
2026, with organic revenue decreasing about 3% and S&P Global
Ratings-adjusted EBITDA declining roughly 25% as the company
maintained investment in lower price points and consumers
gravitated towards promotional pricing windows. It continues to
navigate a slower recovery in some key categories (including
cereal, snacks, and dog feeding) as financially stretched consumers
spend cautiously and seek value. Weather-related volatility and
unfavorable shipment timing exacerbated weak performance. This
resulted in S&P Global Ratings-adjusted leverage increasing to
about 4.3x, above our 4x downgrade threshold. We estimate the
issuance of the subordinated notes will reduce pro forma leverage
to about 4x.
"And while we expect operating conditions to remain challenging, we
believe the reversal of timing-related headwinds, the lapping of
initial price investments, and the benefit of the 53rd week in
fiscal 2026 should support profit growth in the fourth quarter. As
a result, we forecast leverage will be just below 4x at the end of
fiscal 2026.
"The company will fully lap its price investments in fiscal 2027,
but we expect its recovery to be muted by still soft macroeconomic
conditions and cautious spending by stretched consumers, limiting
its ability to deleverage organically. We therefore expect
management will maintain capital-allocation policies supportive of
debt reduction, including reducing share repurchases. The company's
portfolio-reshaping activities also continue, as it recently
announced the sale of its Brazilian business and its Muir Glen
brand. While these transactions didn't materially improve credit
measures, we believe the company could sell larger noncore assets
to reduce leverage. That said, the company continues to operate
with limited headroom to our downgrade threshold. We could take a
negative rating action if operating performance further
deteriorates or it doesn't prioritize debt repayment to reduce
leverage.
"The stable outlook on General Mills reflects our expectation that
despite profit contraction in fiscal 2026 and muted recovery in
fiscal 2027, its financial policies will support sustaining
leverage below 4x. This includes our expectation of solid cash flow
and prioritized debt reduction, enabling modest deleveraging over
the next couple of years."
S&P could lower its rating on General Mills if S&P forecasts it
will sustain leverage of more than 4x. This could occur if:
-- It doesn't prioritize debt reduction over share repurchases or
debt-financed acquisitions; or
-- Industry demand continues to weaken or the company loses market
share in key categories, potentially because of intensifying
competition, shifting consumer behavior (including from health and
wellness trends), or poor execution; or
Structural changes to its competitive position and business mix
limit its pricing power and ability to restore EBITDA margins above
20%.
While unlikely over the next 12-24 months, S&P could raise its
rating on General Mills if it sustains long-term leverage of less
than 3x. S&P believes this could occur if it:
-- Commits to more conservative financial policies, including
maintaining leverage below 3x; and
-- Delivers volume growth and margin expansion and prioritizes
debt reduction with solid cash flow.
GLENWOOD CAVERNS: Owner Faces Bankruptcy Venue Transfer Bid
-----------------------------------------------------------
Randi Love of Bloomberg Law reports that the parents of a young
girl who died following an accident at a theme park run by Glenwood
Caverns Holdings LLC are seeking to move the company's bankruptcy
case to Colorado, where a $116 million judgment against the
operator is currently pending in state court.
In a motion filed Tuesday, March 31, 2026, in Delaware bankruptcy
court, Dagne and Rahel Estifanos said the case should be
transferred because most creditors are based in Colorado. They also
pointed out that the company's principal place of business is
located there, the report states.
The filing highlights that the debtor's operations, workforce, and
leadership are centered in Colorado, underscoring that the state
has the strongest nexus to the case. The parents argue that
litigating the matter in Delaware creates logistical inefficiencies
for key stakeholders, according to Bloomberg Law.
They added that Delaware's only connection to the case is the
company's corporate registration. Given the substantial ties to
Colorado, including the pending wrongful death judgment, the
parents contend the proceedings should be relocated, the report
relays.
About Glenwood Caverns Holdings LLC
Glenwood Caverns Holdings, LLC owns and operates the Glenwood
Caverns Adventure Park, the only mountaintop theme park in the
U.S., located atop Iron Mountain near Glenwood Springs, Colorado.
The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Dela. Case No. 26-10166) on February 9,
2026. In the petition signed by Paul Maniscalco, chief
restructuring officer, the Debtor disclosed up to $50 million in
assets and up to $500 million in liabilities.
Judge Laurie Selber Silverstein oversees the case.
William A. Hazeltine, Esq., at Sullivan Nimeroff Brown Hill, LLC,
represents the Debtor as legal counsel.
GLUTALITY GLOBAL: Taps Advantage Collection as Debt Collector
-------------------------------------------------------------
Glutality Global Holdings, LLC and its affiliates seek approval
from the U.S. Bankruptcy Court for the Southern District of Florida
to employ Advantage Collection Professionals, as debt collection
professionals.
The firm will represent the Debtors in connection with the
collection and enforcement of their outstanding claims and to
maximize recoveries.
The firm's standard contingent rates are:
Collection Claims (Less than 365 days) 25%
Collection Claims (Over 365 days) 35%
Litigation Claims 40%
Advantage Collection Professionals does not hold or represent any
interest adverse to the Debtor or the estate, according to court
filings.
The firm can be reached through:
Kurt Huizinga
Advantage Collection Professionals
495 2nd Ave SE
Cambridge, MN 55008
Tel: (763) 689-1500
Email: khuizinga@zingmn.com
About Glutality Global Holdings
Glutality Global Holdings, LLC and its affiliated companies operate
in the healthcare technology and services sector, focusing on
diabetes care and remote patient monitoring. The group integrates
medical devices such as glucometers, scales, and blood pressure
cuffs with its cloud-based Diabetes Management Platform to enable
at-home monitoring using patient-generated health data.
Headquartered in Boca Raton, Florida, the companies provide
healthcare solutions across the United States through a network of
affiliated provider entities.
The Debtors sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. S.D. Fla. Lead Case No. 25-22984) on
October 31, 2025.
In the petition signed by Anu Pardeshi, chief restructuring
officer, lead Debtor Glutality Global Holdings, LLC disclosed $0 in
assets and $2,677,722 in liabilities. Sam Health, LLC listed
$1,274,564 in assets and $3,192,539 in liabilities. Welco Track
Services listed $0 in assets and $2,018,975 in liabilities. Stride
Slim, LLC listed $23 in assets and $0 in liabilities. Glutality
Provider Group, PA listed $1,136,839 in assets and $495,947 in
liabilities.
Judge Mindy A. Mora presides over the cases.
Aaron A. Wernick, Esq., at Wernick Law, PLLC represents the Debtors
as bankruptcy counsel.
H&S COMMERCIAL: U.S. Trustee Unable to Appoint Committee
--------------------------------------------------------
The U.S. Bankruptcy Administrator for the Southern District of
Alabama disclosed in a court filing that no official committee of
unsecured creditors has been appointed in the Chapter 11 case of
H&S Commercial & Industrial Supplies, LLC.
About H&S Commercial & Industrial Supplies and Services
H&S Commercial & Industrial Supplies and Services, LLC is an
Alabama-based supplier of commercial and industrial products,
providing equipment, materials, and support services to businesses
across multiple sectors.
H&S Commercial & Industrial Supplies and Services sought relief
under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Ala. Case
No. 26-10564) on February 27, 2026. In its petition, the Debtor
reports estimated assets between $500,001 and $1 million and
estimated liabilities between $1 million and $10 million.
Honorable Bankruptcy Judge Jerry C. Oldshue handles the case.
The Debtor is represented by R. Scott Williams, Esq., at Rumberger,
Kirk & Caldwell, P.C.
HAMJ INVESTMENT: Case Summary & One Unsecured Creditor
------------------------------------------------------
Debtor: HamJ Investment, Inc.
120 South Lee Street
Kingsland GA 31548
Business Description: HamJ Investment, Inc., a
Georgia-domiciled domestic profit corporation headquartered in
Kingsland, Georgia, provides real estate development and support
services, assisting families in obtaining affordable housing and
helping small businesses and professionals access commercial space.
The company operates alongside related entities at the same
address, such as Joseph Business Consulting, and is linked to the
website thejosephgroups.com, which presents its range of business
and real estate support services.
Chapter 11 Petition Date: April 6, 2026
Court: United States Bankruptcy Court
Southern District of Georgia
Case No.: 26-20105
Judge: Hon. Michele J Kim
Debtor's Counsel: Jon Levis, Esq.
LEVIS LAW FIRM, LLC
Post Office Box 129
Swainsboro, GA 30401
Tel: 478-237-7029
E-mail: levis@levislawfirmllc.com
Estimated Assets: $1 million to $10 million
Estimated Liabilities: $100,000 to $500,000
The petition was signed by Abraham Joseph as CEO.
The Debtor identified the Camden County Tax Commissioner, located
in Woodbine, Georgia, as its only unsecured creditor, reporting a
tax-related claim of $12,936.
A full-text copy of the petition is available for free on
PacerMonitor at:
https://www.pacermonitor.com/view/3JIB4TQ/HamJ_Investment_Inc__gasbke-26-20105__0001.0.pdf?mcid=tGE4TAMA
HANFORD FOOD: Seeks Chapter 11 Bankruptcy in California
-------------------------------------------------------
On March 31, 2026, Hanford Food LLC filed for Chapter 11 protection
in the U.S. Bankruptcy Court for the Central District of
California. According to court filings, the Debtor reports between
$1 million and $10 million in debt owed to between 1 and 49
creditors.
About Hanford Food LLC
Hanford Food LLC is a food-related business engaged in the
distribution, sale, or processing of food products within the U.S.
market.
Hanford Food LLC sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. Case No. 26-12473) on March 31, 2026. In
its petition, the Debtor reports estimated assets of $1 million to
$10 million and estimated liabilities of $1 million to $10
million.
The Debtor is represented by Garrick A. Hollander, Esq. of Garrick
A. Hollander, LLP.
HEARTLAND PPC: Antares PCF Virtually Writes off $3MM 1L Loan
------------------------------------------------------------
Antares Private Credit Fund has marked its $3,067,000 loan extended
to HeartLand PPC Buyer, LLC to market at $38,000 or 1% of the
outstanding amount, according to Antares PCF's 10-K for the fiscal
year ended Dec. 31, 2025, filed with the U.S. Securities and
Exchange Commission.
Antares Private Credit Fund is a participant in a First Lien
Delayed Draw Term Loan extended to HeartLand PPC Buyer, LLC. The 1L
Loan accrues interest at a rate of S + 4.75%, 8.40% per annum. The
1L Loan matures on Dec. 12, 2029.
Antares Private Credit Fund is a business development company that
provides private credit and financing solutions to middle-market
borrowers.
The Fund is led by Vivek Mathew as Chief Executive Officer and
President and Thomas Sweeney as Chief Financial Officer and
Principal Accounting Officer.
The Fund can be reached at:
Vivek Mathew
Antares Private Credit Fund
320 South Canal Street, Suite 4200
Chicago, IL 60606
Telephone: (312) 638-4119
About HeartLand PPC Buyer, LLC
HeartLand PPC Buyer, LLC offers an online real estate and property
information services. The Company serves customers in the United
States.
HEARTLAND PPC: Antares PCF Virtually Writes Off $904,000 1L Loan
----------------------------------------------------------------
Antares Private Credit Fund has marked its $904,000 loan extended
to HeartLand PPC Buyer, LLC to market at $8,000 or 1% of the
outstanding amount, according to Antares PCF’s 10-K for the
fiscal year ended Dec. 31, 2025, filed with the U.S. Securities and
Exchange Commission.
Antares Private Credit Fund is a participant in a First Lien
Revolver loan extended to HeartLand PPC Buyer, LLC. The 1L Loan
accrues interest at a rate of S + 4.75%, 8.40% per annum. The 1L
Loan matures on Dec. 12, 2029.
Antares Private Credit Fund is a business development company that
provides private credit and financing solutions to middle-market
borrowers.
The Fund is led by Vivek Mathew as Chief Executive Officer and
President and Thomas Sweeney as Chief Financial Officer and
Principal Accounting Officer.
The Fund can be reached at:
Vivek Mathew
Antares Private Credit Fund
320 South Canal Street, Suite 4200
Chicago, IL 60606
Telephone: (312) 638-4119
About HeartLand PPC Buyer, LLC
HeartLand PPC Buyer, LLC offers an online real estate and property
information services. The Company serves customers in the United
States.
HIDALGO GROUP: Case Summary & Eight Unsecured Creditors
-------------------------------------------------------
Debtor: Hidalgo Group, LLC
11401 North West 134th Street
Suite 107
Miami, FL 33178
Business Description: Hidalgo Group, LLC, a warehousing and
distribution company based in Florida, provides temperature- and
humidity-controlled storage, bonded facilities, inventory
management, order fulfillment, and distribution services. The
company serves clients in sectors including food, pharmaceuticals,
apparel, and hospitality, while also offering freight and
transportation support as part of its logistics operations.
Chapter 11 Petition Date: April 6, 2026
Court: United States Bankruptcy Court
Southern District of Florida
Case No.: 26-14274
Debtor's Counsel: Jesus Santiago, Esq.
DASA LAW
14100 Palmetto Frontage Road
Suite 370
Miami Lakes, FL 33016
Tel: (305) 898-7148
E-mail: jesus@dasa.law
Total Assets: $4,404,999
Total Liabilities: $137,304
The petition was signed by Daktor Holguin as authorized agent.
A full-text copy of the petition, which includes a list of the
Debtor's eight unsecured creditors, is available for free on
PacerMonitor at:
https://www.pacermonitor.com/view/GAUREFA/Hidalgo_Group_LLC__flsbke-26-14274__0001.0.pdf?mcid=tGE4TAMA
HILLER COMPANIES: Antares PCF Marks $1M 1L Loan at 32% Off
----------------------------------------------------------
Antares Private Credit Fund has marked its $1,077,000 loan extended
to The Hiller Companies, LLC to market at $729,000 or 68% of the
outstanding amount, according to Antares PCF's 10-K for the fiscal
year ended Dec. 31, 2025, filed with the U.S. Securities and
Exchange Commission.
Antares Private Credit Fund is a participant in a First Lien
Delayed Draw Term Loan extended to The Hiller Companies, LLC. The
1L Loan accrues interest at a rate of S + 4.75%, 8.42% per annum.
The 1L Loan matures on June 20, 2030.
Antares Private Credit Fund is a business development company that
provides private credit and financing solutions to middle-market
borrowers.
The Fund is led by Vivek Mathew as Chief Executive Officer and
President and Thomas Sweeney as Chief Financial Officer and
Principal Accounting Officer.
The Fund can be reached at:
Vivek Mathew
Antares Private Credit Fund
320 South Canal Street, Suite 4200
Chicago, IL 60606
Telephone: (312) 638-4119
About The Hiller Companies, LLC
The Hiller Companies, LLC is a fire and life safety services
platform, providing inspection, maintenance and installation of
protection systems under a leveraged private equity ownership
structure.
HOPS ON MAIN: Seeks to Use Cash Collateral
------------------------------------------
Hops on Main, LLC asks the U.S. Bankruptcy Court for the District
of New Jersey for authority to use cash collateral and provide
adequate protection.
Manasquan Bank holds a secured claim of about $670,505, supported
by a valid first lien on the Debtor's assets. The Debtor
acknowledges the debt and does not dispute its validity.
The Debtor seeks to use up to $63,285 in cash collateral strictly
for ordinary and necessary expenses, including payroll, rent,
utilities, insurance, and maintaining its brewery and taproom.
A budget governs these expenditures, with limited flexibility.
To protect the secured creditor, the Debtor will grant replacement
liens on post-petition assets, requires monthly financial
reporting, and provide adequate protection payments of $3,377 per
month starting March 1, 2026. The creditor will also be granted
inspection and audit rights and may seek expedited relief if the
Debtor defaults.
A court hearing is scheduled for April 23.
A copy of the proposed interim order is available at
https://urlcurt.com/u?l=0qvb2j from PacerMonitor.com.
Manasquan Bank is represented by:
Donald F. Campbell, Jr., Esq.
Giordano, Halleran & Ciesla, P.C.
125 Half Mile Road, Suite 300
Red Bank, NJ 07701
Tel: (732) 741 3900
Fax: (732) 224 6599
dcampbell@ghclaw.com
About Hops on Main LLC
Hops on Main, LLC sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. N.J. Case No. 26-12190) on February 27,
2026. In the petition signed by Gary Morrison, member, the Debtor
disclosed up to $500,000 in both assets and liabilities.
Judge Michael B. Kaplan oversees the case.
Daniel Straffi, Jr, Esq., at Straffi and Straffi LLC, represents
the Debtor as legal counsel.
HOTEL ONE PARTNERS: Hires Cherry Bekaert Advisory as Accountant
---------------------------------------------------------------
Hotel One Partners Miramar Beach, LLC seeks approval from the U.S.
Bankruptcy Court for the Northern District of Florida to hire
Cherry Bekaert Advisory LLC as accountant.
Cherry Bekaert will provide these services:
a. prepare federal and state/local income and/or tax returns
with supporting schedules;
b. compute Tax Depreciation Expense.
The firm will charge these rates:
Associate $235 to $290 per hour
Senior Associate $340 to $420 per hour
Manager $385 to $480 per hour
Director/Partner $520 to $650 per hour
CBA will add a 5% technology fee to all professional services.
The firm will seek reimbursement for reasonable and customary
out-of-pocket expenses in connection with work done on behalf of
the Debtor.
Barbara Smith, a certified public accountant at Cherry Bekaert,
disclosed in court filings that the firm is a "disinterested
person" as defined in Section 101(14) of the Bankruptcy Code.
The firm can be reached at:
Barbara L. Smith, CPA
Cherry Bekaert, LLP
1111 Metropolitan Ave., Suite 900
Charlotte, NC 28204
Tel: (704) 377-1678
Fax: (704) 377-6063
About Hotel One Partners Miramar Beach LLC
Hotel One Partners Miramar Beach, LLC is a Kentucky limited
liability company and the owner of the 116-unit Staybridge Suites
hotel in Miramar Beach, Florida.
Hotel One Partners sought relief under Subchapter V of Chapter 11
of the U.S. Bankruptcy Code (Bankr. N.D. Fla. Case No. 25-31131) on
November 7, 2025. In its petition, the Debtor reported between $10
million and $50 million in assets and liabilities.
Honorable Bankruptcy Judge Jerry C. Oldshue Jr. handles the case.
The Debtor is represented by Edward J. Peterson, III, Esq., at
Berger Singerman, LLP.
HP RSS: Antares PCF Marks $8.5-Mil. 1L Loan at 61% Off
------------------------------------------------------
Antares Private Credit Fund has marked its $8,524,000 loan extended
to HP RSS Buyer, Inc. to market at $3,284,000 or 39% of the
outstanding amount, according to Antares PCF’s 10-K for the
fiscal year ended Dec. 31, 2025, filed with the U.S. Securities and
Exchange Commission.
Antares Private Credit Fund is a participant in a First Lien
Delayed Draw Term Loan extended to HP RSS Buyer, Inc. The 1L Loan
accrues interest at a rate of S + 4.75%, 8.40% per annum. The 1L
Loan matures on Dec. 11, 2029.
Antares Private Credit Fund is a business development company that
provides private credit and financing solutions to middle-market
borrowers.
The Fund is led by Vivek Mathew as Chief Executive Officer and
President and Thomas Sweeney as Chief Financial Officer and
Principal Accounting Officer.
The Fund can be reached at:
Vivek Mathew
Antares Private Credit Fund
320 South Canal Street, Suite 4200
Chicago, IL 60606
Telephone: (312) 638-4119
About HP RSS Buyer, Inc.
HP RSS Buyer, Inc. is a buyout vehicle created to acquire and hold
a target company, using leveraged financing as part of a private
equity-backed transaction.
HYPERION MATERIALS: S&P Affirms 'B-' ICR, Alters Outlook to Neg.
----------------------------------------------------------------
S&P Global Ratings revised its outlook to negative from stable and
affirmed its 'B-' issuer credit rating on Hyperion Materials &
Technologies Inc.
The negative outlook reflects heightened uncertainty around
Hyperion's earnings and cash flows following recent material cost
increases, which could elevate its leverage and constrict liquidity
if the company cannot pass on raw material costs.
Financial sponsor KKR & Co. is planning to invest follow-on common
equity into Hyperion from its original equity check when it
purchased the company in 2018. Hyperion plans on using the proceeds
to support incremental net working capital, a noncontrolling
investment in a tungsten mine, and fund three bolt-on
acquisitions.
S&P said, "While we view this transaction as credit positive, costs
are rapidly rising for its key raw material, tungsten carbide. We
believe this could weaken earnings and/or cash flow generation if
the company cannot quickly pass these costs on."
Significantly higher raw materials costs could lead to greater
earnings volatility over the next 12 months. In early 2025, China
expanded its rare-earth export controls, including ammonium
paratungstate (APT). This intermediate raw material is the main
component of tungsten carbide, a key material Hyperion uses to
manufacture most of its hard metal products. These controls caused
significant inflation in the indexed price of APT, increasing
almost six-fold from about $330/metric ton (mt) in January 2025 to
over $1,900/mt as of early 2026.
Even though prices remain highly volatile, new global supply
efforts for APT, led by mines in Kazakhstan and Australia, should
ease some inflationary pressure. In addition, Hyperion is pursuing
potential supply chain agreements to further de-risk its supply
chain.
As long as Hyperion is able to pass along higher material costs
with minimal lag and recognize cost savings, S&P forecasts minimal
disruption to its 2026 S&P Global Ratings-adjusted EBITDA margin
profile relative to 2025.
Hyperion has successfully raised product prices and implemented
surcharges to combat materials inflation, as demonstrated by its
fourth-quarter revenue growth of nearly 20%, and is taking
proactive measures to stabilize its margin profile. However, there
is high uncertainty surrounding the price of tungsten carbide going
forward.
In 2025, despite about 8% revenue growth, Hyperion's S&P Global
Ratings-adjusted EBITDA margin fell 290 basis points, and debt
leverage rose to 9.7x. The company will need to remain diligent in
its pricing strategy and inventory management in order to maintain
margins and preserve liquidity during this inflationary period.
S&P said, "In 2026 we expect significant pricing growth from recent
actions will help support operating performance. We expect strong
top-line growth from full-year pricing actions, as well as modestly
higher volume from improving industrial demand and continued
strength in the aerospace markets, partially offset by a still soft
automotive industry. In addition, we expect the company will focus
on several initiatives targeting higher-growth markets like
industrial production in Asia and defense applications.
"Liquidity should remain adequate, despite higher costs and our
expectations for negative free operating cash flow (FOCF). In 2025,
Hyperion generated a $28 million S&P Global Ratings-adjusted FOCF
deficit due to the pricing timing lag and higher inventory spend.
It will allocate a portion of the equity from KKR toward right
sizing inventory and improving receivables collections timing.
"While we forecast working capital improvement, we do not expect
this until the back half of 2026. The company also plans to invest
heavily in growth capital expenditure (capex) to support its
strategic initiatives, leading to another year of negative FOCF in
2026."
Hyperion has about $85 million of liquidity sources on hand as of
Dec. 31, 2025, including cash and revolving credit facility (RCF)
availability. However, if it cannot right size its inventory or
materials costs rise even more rapidly, cash flows could sharply
decline.
The negative outlook reflects heightened uncertainty around
Hyperion's earnings and cash flows following recent material cost
increases, which could lead to elevated leverage and constricted
liquidity if the company cannot successfully maintain its margin
profile.
S&P could lower its ratings on Hyperion if sharply higher material
costs significantly contract its EBITDA or cash flow such that S&P
deems its capital structure unsustainable. Specifically, S&P could
lower its ratings if:
-- S&P expects S&P Global Ratings-adjusted EBITDA interest
coverage to decline toward 1x or debt to EBITDA to approach 10x
with no clear prospects for improvement; or
-- Liquidity weakens, for instance due to persistently significant
FOCF deficits or a deterioration of EBITDA headroom to below 15%
under its springing financial covenant.
S&P could revise its outlook back to stable if:
-- The company successfully passes through its material costs such
that EBITDA improves meaningfully and interest coverage remains
above 1x; and
-- Liquidity and covenant headroom remain adequate.
IMAGE DENTAL: Seeks Court Approval to Tap Anders CPA as Accountant
------------------------------------------------------------------
Image Dental Arts, Inc. seeks approval from the U.S. Bankruptcy
Court for the Northern District of Indiana to employ Anders CPA as
accountant.
The firm will provide bookkeeping and advisory support, prepare
financial statements, and matters related to tax forms and
returns.
The firm will be paid at a fixed fee of $3,500 for final corporate
income tax filings, $1,500 for state and local withholding,
unemployment, and sales tax account closures, and $10,000 for
continued bookkeeping and accounting support during proceedings.
The Debtor has paid a $15,000 retainer for the firm's accounting
services.
David Danic, CPA, a partner at Anders CPA, disclosed in a court
filing that the firm is a "disinterested person" as the term is
defined in Section 101(14) of the Bankruptcy Code.
The firm can be reached through:
David Danic, CPA
Anders CPA
800 Market Street, Suite 500
St. Louis, MO 63101
Telephone: (314) 655-5500
About Image Dental Arts Inc.
Image Dental Arts, Inc. sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. N.D. Ind. Case No. 26-10354) on March 30,
2026. In its petition, the Debtor disclosed up to $500,000 in
assets and up to $1 million in liabilities.
The Debtor tapped H. Faith Welch, Esq., at HallerColvin PC as
counsel and David Danic, CPA, at Anders CPA as accountant.
IMAGE DENTAL: Seeks to Hire HallerColvin as Bankruptcy Counsel
--------------------------------------------------------------
Image Dental Arts, Inc. seeks approval from the U.S. Bankruptcy
Court for the Northern District of Indiana to employ HallerColvin
PC to handle its Chapter 11 case.
H. Faith Welch, Esq., a member at HallerColvin, disclosed in a
court filing that the firm is a "disinterested person" as the term
is defined in Section 101(14) of the Bankruptcy Code.
The firm can be reached through:
H. Faith Welch, Esq.
HallerColvin PC
444 E. Main St.
Fort Wayne, IN 46802
Telephone: (260) 426-0444
Facsimile: (260) 422-0274
Email: fwelch@hallercolvin.com
About Image Dental Arts Inc.
Image Dental Arts, Inc. sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. N.D. Ind. Case No. 26-10354) on March 30,
2026. In its petition, the Debtor disclosed up to $500,000 in
assets and up to $1 million in liabilities.
The Debtor tapped H. Faith Welch, Esq., at HallerColvin PC as
counsel and David Danic, CPA, at Anders CPA as accountant.
IMAGE TECHNOLOGY: Gets Interim OK to Use Cash Collateral
--------------------------------------------------------
Image Technology Consulting II, LLC and Axiom Imaging Solutions,
Inc. received interim approval from the U.S. Bankruptcy Court for
the Northern District of Texas, Fort Worth Division, to use cash
collateral.
Under the interim order, the Debtors are authorized to use cash and
cash equivalents to pay operating expenses in accordance with an
approved budget from April 9 until the entry of a final order; the
dismissal or conversion of their bankruptcy cases; the appointment
of a Chapter 11 trustee; or the occurrence of a so-called
termination event such as the Debtors' failure to comply with the
interim order and the Debtors' material deviation from the budget
in excess of the allowed 15% variance.
As protection, secured creditors will be granted replacement liens
on all post-petition assets of the Debtors similar to their
pre-petition collateral, with the same validity, priority and
extent as their pre-petition liens.
The order is available at https://is.gd/svLdVi from
PacerMonitor.com.
The next hearing is set for April 20. The deadline for filing
objections is on April 16.
The Debtors' cash collateral includes funds held in Comerica Bank
accounts and any proceeds from pre-petition collateral. The need to
use this cash collateral stems from a severe liquidity crisis
triggered by a pre-petition judgment obtained by Philips North
America, LLC in the amount of approximately $6.05 million, which
led to garnishments and freezes of the Debtors' key operating
accounts, effectively cutting off access to cash.
The Debtors also recognize secured claims held by the U.S. Small
Business Administration, which asserts liens on substantially all
assets of ITC II, including accounts, equipment, and general
intangibles.
About Image Technology Consulting II LLC
Image Technology Consulting II, LLC sought protection under Chapter
11 of the U.S. Bankruptcy Code (Bankr. N.D. Tex. Case No.
26-41358-mxm11) on March 29, 2026. In the petition signed by
Marshall Shannon, managing member, the Debtor disclosed up to $1
million in assets and up to $10 million in liabilities.
Judge Mark X. Mullin oversees the case.
Richard Grant, Esq., at CM Law LLP, represents the Debtor as legal
counsel.
INNOVETIVE PETCARE: Antares PCF Marks $1.9MM 1L Loan at 68% Off
---------------------------------------------------------------
Antares Private Credit Fund has marked its $1,997,000 loan extended
to Innovetive Petcare, Inc. to market at $639,000 or 32% of the
outstanding amount, according to Antares PCF's 10-K for the fiscal
year ended Dec. 31, 2025, filed with the U.S. Securities and
Exchange Commission.
Antares Private Credit Fund is a participant in a First Lien
Delayed Draw Term Loan extended to Innovetive Petcare, Inc. The 1L
Loan accrues interest at a rate of S + 5.00%, 8.77% per annum. The
1L Loan matures on June 30, 2028.
Antares Private Credit Fund is a business development company that
provides private credit and financing solutions to middle-market
borrowers.
The Fund is led by Vivek Mathew as Chief Executive Officer and
President and Thomas Sweeney as Chief Financial Officer and
Principal Accounting Officer.
The Fund can be reached at:
Vivek Mathew
Antares Private Credit Fund
320 South Canal Street, Suite 4200
Chicago, IL 60606
Telephone: (312) 638-4119
About Innovetive Petcare, Inc
Innovetive Petcare, Inc. operates as a veterinary hospital. The
Company offers emergency care, surgery, oncology, and other related
services. Innovetive Petcare serves customers in the United States.
INSPIRED HEALTHCARE: Committee Hires Berkeley Research as Advisor
-----------------------------------------------------------------
The official committee of unsecured creditors appointed in the
Chapter 11 cases of Inspired Healthcare Capital Holdings, LLC and
its affiliates seeks approval from the U.S. Bankruptcy Court for
the Northern District of Texas to employ Berkeley Research Group,
LLC as financial advisor.
The firm's services include:
(a) develop strategies to maximize recoveries from the
Debtors' assets and advise and assist the committee with such
strategies;
(b) monitor liquidity and cash flows throughout the Chapter 11
cases and scrutinize cash disbursements and capital requirements;
(c) develop and issue periodic monitoring reports to enable
the committee to effectively evaluate the Debtors' performance
relative to projections and any relevant operational issues;
(d) advise and assist the committee in its analysis and
monitoring of the historical, current and projected financial
affairs of the Debtors;
(e) advise and assist the committee with respect to any
debtor-in-possession financing arrangements and/or use of cash
collateral;
(f) analyze both historical and ongoing intercompany and/or
related party transactions and or material unusual transactions of
the Debtors and non-Debtor affiliates. Such analysis to include
developing an oversight protocol with its advisors to closely
monitor such transactions to prevent value leakage;
(g) advise and assist the committee in its assessment of the
Debtors' employee needs and related costs;
(h) evaluate the Debtors' and non-Debtors' business
plan/operational restructuring and product/ service forecasts;
(i) prepare valuations of the Debtors' assets;
(j) advise and assist the committee in reviewing and
evaluating any court motions (including any assumption or rejection
motions or objections thereto), applications, or other forms of
relief filed or to be filed by the Debtors, or any other
parties-in-interest;
(k) advise and assist the committee and counsel in their
review of any potential prepetition liens of secured parties;
(l) advise the committee with respect to any potential
preference payments, fraudulent conveyances, and other potential
causes of action that the Debtors' estates may hold against
insiders and/or third parties and assist with any investigations
related to such matters as required;
(m) identify and assess the value of unencumbered assets;
(n) analyze and monitor any sale processes and transactions
and assess the reasonableness of the process and the consideration
received;
(o) assist with the development and review of a cost/benefit
analysis with respect to the assumption or rejection of various
executory contracts and leases;
(p) monitor the Debtors' claims management process;
(q) review and provide analysis of any bankruptcy plan and
disclosure statement relating to the Debtors;
(r) attend committee meetings, court hearings, and auctions as
may be required;
(s) work with the Debtors' tax advisors to ensure that any
restructuring or sale transaction is structured to minimize tax
liabilities to the estate as well as assist with the review of any
tax issues associated with, for example, claims/stock trading,
preservation of net operating losses, and refunds from
any plan of reorganization and/or asset sales;
(t) work with the Debtors' financial advisor and investment
banker on matters outlined above, as necessary; and
(u) provide other services as may be requested from time to
time by the committee and its counsel, consistent with the role of
a financial advisor.
The firm will be paid at these hourly rates:
David Galfus, Managing Director $1,450
Evan Hengel, Managing Director $1,350
Haywood Miller, Managing Director $1,350
Andrew Manley, Managing Director $1,180
Frank Dery, Professional Staff $950
In addition, the firm will seek reimbursement for expenses
incurred.
Mr. Galfus disclosed in a court filing that the firm is a
"disinterested person" as the term is defined in Section 101(14) of
the Bankruptcy Code.
The firm can be reached through:
David Galfus
Berkeley Research Group, LLC
2200 Powell Street, Suite 1200
Emeryville, CA 94608
Telephone: (510) 285-3300
About Inspired Healthcare Capital Holdings LLC
Inspired Healthcare Capital Holdings, LLC, owns senior living
communities across the U.S. that provide independent living,
assisted living and memory care services. It operates in the senior
housing and healthcare real estate sector, with day-to-day
community operations managed by third-party operators under
management agreements, while the Company retains control over
non-community business functions.
Inspired Healthcare Capital Holdings sought protection under
Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Tex. Lead Case
No. 26-90004) on Feb. 2, 2026. In the petition signed by M.
Benjamin Jones, chief restructuring officer, Inspired Healthcare
Capital Holdings reported between $1 billion and $10 billion in
both assets and liabilities.
Judge Mark X. Mullin oversees the cases.
The Debtors tapped McDermott Will & Schulte, LLP as bankruptcy
counsel; Ankura Consulting Group, LLC as financial advisor; Raymond
James & Associates, Inc., as an investment banker, and Epiq
Corporate Restructuring, LLC as claims, noticing, and solicitation
agent.
On Feb. 25, 2026, the Office of the United States Trustee for the
Northern District of Texas appointed an official committee of
unsecured creditors in these Chapter 11 cases. The committee tapped
Greenberg Traurig, LLP as counsel and Berkeley Research Group, LLC
as financial advisor.
INSPIRED HEALTHCARE: Committee Taps Greenberg Traurig as Attorney
-----------------------------------------------------------------
The official committee of unsecured creditors of Inspired
Healthcare Capital Holdings, LLC and affiliates seeks approval from
the U.S. Bankruptcy Court for the Northern District of Texas to
employ Greenberg Traurig, LLP as attorney.
The firm will render these services:
a) advise the Committee with respect to its rights, duties,
and powers in these Cases;
b) assist and advise the Committee in its consultations with
the Debtors in connection with the administration of these Cases;
c) assist the Committee in its investigation of the acts,
conduct, assets, liabilities, and financial condition of the
Debtors, operation of the Debtors' businesses and the desirability
of continuing or selling such businesses and/or assets under
section 363 of the Bankruptcy Code, the formulation of a chapter 11
plan, and other matters relevant to these Cases;
d) assist the Committee in analyzing the claims of the
Debtors' creditors and the Debtors' capital structure and in
negotiating with holders of claims and equity interests, including
analysis of possible objections to the nature, extent, validity,
priority, amount, subordination, or avoidance of claims and/or
transfers of property in consideration of such claims;
e) advise and represent the Committee in connection with
matters generally arising in these Cases, including the obtaining
of credit, the sale of assets, and the rejection or assumption of
executory contracts and unexpired leases;
f) appear before this Court, and any other federal, state, or
appellate court;
g) prepare, on behalf of the Committee, any pleadings,
including without limitation, motions, memoranda, complaints,
objections, and responses to any of the foregoing; and
h) perform such other legal services as may be required or are
otherwise deemed to be in the interests of the Committee in
accordance with the Committee's powers and duties as set forth in
the Bankruptcy Code, Bankruptcy Rules, or other applicable law.
The firm will be paid at these hourly rates:
Shareholders $1,260 to $1,985
Associates $835 to $1,250
Paralegals $150 to $615
According to court filings, Greenberg Traurig does not hold or
represent any interest adverse to the Debtor or the chapter 11
estate, the creditors, or any other party-in-interest and is a
"disinterested person" as that term is defined in section 101(14)
of the Bankruptcy Code.
Pursuant to Part D1 of the Revised U.S. Trustee Guidelines,
Greenberg Traurig responded as follows:
Question: Did you agree to any variations from, or alternatives
to, your standard or customary billing arrangements for this
engagement?
Answer: No.
Question: Do any of the professionals included in this
engagement vary their rate based on the geographic location of the
bankruptcy case?
Answer: No.
Question: If you represented the client in the 12 months
prepetition, disclose your billing rates and material financial
terms for the prepetition engagement, including any adjustments
during the 12 months prepetition. If your billing rates and
material financial terms have changed post petition, explain the
difference and the reasons for the difference.
Answer: No.
Question: Has your client approved your prospective budget and
staffing plan, and, if so, for what budget period?
Answer: The Committee and Greenberg Traurig expect to develop a
prospective budget and staffing plan, recognizing that in the
course of this Case, there may be unforeseeable fees and expenses
that will need to be addressed by the Committee and Greenberg
Traurig.
The firm can be reached at:
Shari L. Heyen, Esq.
Aimee M. Housinger, Esq.
Emily D. Nasir, Esq.
GREENBERG TRAURIG, LLP
1000 Louisiana St., Suite 6700
Houston, TX 77002
About Inspired Healthcare Capital Holdings, LLC
Inspired Healthcare Capital Holdings, LLC, owns senior living
communities across the U.S. that provide independent living,
assisted living, and memory care services. It operates in the
senior housing and healthcare real estate sector, with day-to-day
community operations managed by third-party operators under
management agreements while the Company retains control over
non-community business functions.
Inspired Healthcare Capital Holdings sought protection under
Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Texas Lead Case
No. 26-90004) on Feb. 2, 2026. In the petition signed by M.
Benjamin Jones, chief restructuring officer, Inspired Healthcare
Capital Holdings reported between $1 billion and $10 billion in
both assets and liabilities.
Judge Mark X Mullin oversees the cases.
The Debtors tapped McDermott Will & Schulte, LLP as bankruptcy
counsel; Ankura Consulting Group, LLC as financial advisor; Raymond
James & Associates, Inc. as investment banker; and Epiq Corporate
Restructuring, LLC as claims, noticing, and solicitation agent.
INTERNATIONAL SUPPORT: U.S. Trustee Unable to Appoint Committee
---------------------------------------------------------------
The U.S. Trustee for Region 21, until further notice, will not
appoint an official committee of unsecured creditors in the Chapter
11 case of International Support Group LLC, according to court
dockets.
About International Support Group
International Support Group, LLC is a facilities maintenance
company that has provided services to the federal government since
2009 and operates primarily in Broward County, Florida.
The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. S.D. Fla. Case No. 26-12738) on March 4,
2026. In the petition signed by Robert Bennett, owner and
president, the Debtor disclosed up to $10 million in both assets
and liabilities.
Judge Peter D. Russin oversees the case.
Thomas L. Abrams, Esq., at Thomas L Abrams PA, represents the
Debtor as legal counsel.
JAMMER LLC: Hires Gudeman & Associates Inc. as Bankruptcy Counsel
-----------------------------------------------------------------
The Jammer, LLC, seeks approval from the U.S. Bankruptcy Court for
the Eastern District of Michigan to hire Gudeman & Associates, P.C.
as attorneys.
The firm will advise the Debtor regarding its duties under the
Bankruptcy Code and will provide other legal services related to
its Chapter 11 case.
The firm will be paid at these rates:
Edward J. Gudeman $500 per hour
Michael Kuper $350 per hour
Elaine M. Niforos $350 per hour
Samantha Miller $150 per hour
The firm received from the Debtor $11,986.76 as a retainer,
consisting of a $7,500 payment by the Debtor, a credit of $2,748.76
for unused fees from an unrelated matter paid by Richard
Laframboise, and the filing fee of $1,738.
The firm will also be reimbursed for reasonable out-of-pocket
expenses incurred.
Edward J. Gudeman, Esq., a partner at Gudeman & Associates, P.C.,
disclosed in a court filing that the firm is a "disinterested
person" as the term is defined in Section 101(14) of the Bankruptcy
Code.
The firm can be reached at:
Edward J. Gudeman, Esq.
Gudeman & Associates, P.C.
1026 W. 11 Mile Road
Royal Oak, MI 48067
Tel: (248) 546-2800
Email: ecf@gudemanlaw.com
About The Jammer LLC
The Jammer, LLC sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. E.D. Mich. Case No. 26-30523-jda) on March
3, 2026. In the petition signed by Richard LaFramboise, managing
member, the Debtor disclosed up to $50,000 in assets and up to
$500,000 in liabilities.
Judge Joel D. Applebaum oversees the case.
Edward J. Gudeman, Esq., at Gudeman & Associates, PC, represents
the Debtor as legal counsel.
JMAY REALTY: Seeks to Tap Wilson Friery PLLC as Bankruptcy Counsel
------------------------------------------------------------------
JMAY Realty Investment Co. seeks approval from the U.S. Bankruptcy
Court for the Southern District of Texas to hire Wilson Friery PLLC
as counsel.
The firm will render these services:
a. render legal advice with respect to the Debtor's powers and
duties in the continued operation of the Debtor's business as a
debtor-in-possession;
b. take all necessary action to protect and preserve the
Debtor's bankruptcy estates;
c. prepare all necessary schedules, statements, motions,
answers, orders, reports, and other legal papers in connection with
the administration of the Debtor's bankruptcy estates;
d. assist in preparing and filing a plan of reorganization,
and if necessary, a disclosure statement; and
e. perform any and all other legal services reasonably
necessary or otherwise requested by the Debtor in connection with
this chapter 11 case and the formation and implementation of a
Chapter 11 plan.
The hourly rates for Broocks 'Mack' Wilson and Michelle Friery are
$500 per hour.
The Debtor paid Wilson Friery $11,738, $10,000 for a retainer and
$1,738 for a Chapter 11 filing fee.
Wilson Friery does not represent any interest adverse to the Debtor
or its estate in this Chapter 11 case, according to court filings.
The firm can be reached through:
Broocks M. Wilson, Esq.
WILSON FRIERY PLLC
708 Main Street 10th Floor
Houston TX 77002
Tel: (281) 938-0896
E-mail: mack@wilsonfriery.com
About JMAY Realty Investment Co.
JMAY Realty Investment Co. holds and rents out real estate assets
to tenants as part of its property investment operations.
JMAY Realty Investment Co. filed its voluntary petition for relief
under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Tex. Case No.
26-80135) on March 2, 2026, listing $1 million to $10 million in
assets and $500,000 to $1 million in liabilities. The petition was
signed by Rejone Edwards as president.
Judge Alfredo R Perez presides over the case.
Broocks Wilson, Esq. at Wilson Friery PLLC serves as the Debtor's
counsel.
JQ LEASING: Voluntary Chapter 11 Case Summary
---------------------------------------------
Debtor: JQ Leasing Series II LLC
PO Box 530430
Henderson, NV 89053
Business Description: JQ Leasing Series II LLC, a single-asset
real estate entity, holds its primary
property at 1590 East Flamingo Road in Las
Vegas, Nevada 89119.
Chapter 11 Petition Date: April 7, 2026
Court: United States Bankruptcy Court
District of Nevada
Case No.: 26-12174
Debtor's Counsel: David A. Riggi, Esq.
RIGGI LAW FIRM
7900 W Sahara Ave Suite 100
Las Vegas NV 89117
Email: riggilaw@gmail.com
Estimated Assets: $1 million to $10 million
Estimated Liabilities: $1 million to $10 million
The petition was signed by Ronald A. Memo as member-manager.
The Debtor filed a list of its 20 largest unsecured creditors, but
all entries were left blank.
A full-text copy of the petition is available for free on
PacerMonitor at:
https://www.pacermonitor.com/view/JVGCEOQ/JQ_LEASING_SERIES_II_LLC__nvbke-26-12174__0001.0.pdf?mcid=tGE4TAMA
KGF WORLD: Seeks Chapter 7 Bankruptcy in Texas
----------------------------------------------
On March 31, 2026, KGF World Food Warehouse, Inc. filed for Chapter
7 protection in the U.S. Bankruptcy Court for the Northern District
of Texas. According to court filings, the Debtor reports between $1
million and $10 million in debt owed to between 200 and 999
creditors.
About KGF World Food Warehouse, Inc.
KGF World Food Warehouse, Inc. is a food distribution and
warehousing company involved in the storage and supply of
international food products.
KGF World Food Warehouse, Inc. sought relief under Chapter 7 of the
U.S. Bankruptcy Code (Bankr. Case No. 26-31359) on March 31, 2026.
In its petition, the Debtor reports estimated assets of $1 million
to $10 million and estimated liabilities of $1 million to $10
million.
The Debtor is represented by Robert Yaquinto, Jr. of Sherman &
Yaquinto, LLP.
KOVA COMMERCIAL: Gets OK to Hire Bush Ross as Bankruptcy Counsel
----------------------------------------------------------------
Kova Commercial of Naples, LLC received approval from the U.S.
Bankruptcy Court for the Middle District of Florida to employ Bush
Ross, PA as counsel.
The firm's services include:
(a) render legal advice with respect to the Debtor's powers
and duties;
(b) prepare on behalf of the Debtor necessary legal papers;
(c) appear before the Court and the United States Trustee to
represent and protect the interests of the Debtor;
(d) assist with and participate in negotiations with creditors
and other parties in interest in formulating a Chapter 11 plan,
draft such a plan and a related disclosure statement, and take
necessary steps to confirm such a plan;
(e) represent the Debtor in all adversary proceedings,
contested matters, and matters involving the administration of this
case; and
(f) perform all other legal services that may be necessary for
the proper preservation and administration of this Chapter 11
case.
The firm will be paid at these following hourly rates:
Attorneys $225 - $625
Paralegals $125 - $225
Prior to the filing of the Chapter 11 petition, Bush Ross received
$26,738 from the Debtor.
Kathleen DiSanto, Esq., an attorney at Bush Ross, disclosed in a
court filing that the firm is a "disinterested person" as the term
is defined in Section 101(14) of the Bankruptcy Code.
The firm can be reached through:
Kathleen L. DiSanto, Esq.
Bush Ross, PA
Post Office Box 3913
Tampa, FL 33601
Telephone: (813) 224-9255
Facsimile: (813) 223-9620
Email: kdisanto@bushross.com
About Kova Commercial of Naples LLC
KOVA Commercial of Naples, LLC, doing business as KOVA Commercial
Group, provides full-service real estate support across multiple
disciplines, including property sales, leasing, and management,
operating primarily in Southwest Florida. The company offers
specialized advisory services for office, industrial, retail, and
medical properties, as well as landlord and tenant representation,
catering to investors, developers, owners, and occupiers. KOVA
emphasizes a collaborative approach and industry expertise to
deliver comprehensive real estate solutions and 360-degree client
support.
KOVA Commercial of Naples sought relief under Subchapter V of
Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No.
26-01415) on Feb. 24, 2026. In the petition signed by Anthony L.
Emma, Jr., manager, the Debtor disclosed up to $100,000 in assets
and up to $10 million in liabilities.
Honorable Bankruptcy Judge Catherine Peek McEwen handles the case.
The Debtor tapped Kathleen L. DiSanto, Esq., at Bush Ross, PA as
counsel.
KSHITIJ INC: Hires BFNSG Law Group LLP as Bankruptcy Counsel
------------------------------------------------------------
Kshitij Inc. seeks approval from the U.S. Bankruptcy Court for the
Eastern District of New York to hire BFNSG Law Group, LLP as
attorneys.
The firm will render these services:
a. advise the Debtor's with respect to the powers and duties
of the Debtor-in-Possession in the continued management of its
business and property;
b. represent the Debtor the Bankruptcy Court and at all
hearings on matters pertaining to its affairs, including
prosecuting and defending litigated matters ad they may rise during
the Chapter 11 case;
c. advise and assist the Debtor in the preparation and
negotiation of a Plan of Reorganization with its creditors;
d. prepare all necessary or desirable applications, answers,
orders, reports, documents and other legal papers; and
e. perform all other legal services.
The hourly rates of the firm's counsel and staff are:
Partners $600 to $725 per hour
Associates $500 to $550 per hour
Paralegals $210 per hour
Prior to the petition date, the Debtor paid the firm a retainer of
$15,000, plus $1,738 filing fee.
In addition, the firm will seek reimbursement for expenses
incurred.
The firm can be reached through:
Heath S. Berger, Esq.
BFSNG Law Group, LLP
6901 Jericho Turnpike, Suite 230
Syosset, NY 11791
Telephone: (516) 747-1136
About Kshitij Inc.
Kshitij Inc., doing business as Don Jono's Pizzeria, sought
protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr.
E.D. N.Y. Case No. 26-70902) on March 5, 2026. In the petition
signed by William McLaughlin, president, the Debtor disclosed up to
$50,000 in assets and up to $1 million in liabilities.
Judge Louis A. Scarcella oversees the case.
Gary C. Fischoff, Esq., at BFSNG Law Gtoup, LLP, represents the
Debtor as bankruptcy counsel.
LAW OFFICES OF TRAVIS: Seeks to Hire Brian K. McMahon as Counsel
----------------------------------------------------------------
The Law Offices of Travis R. Walker, PA seeks approval from the
U.S. Bankruptcy Court for the Southern District of Florida to
employ Brian K. McMahon, PA as counsel.
The firm will render these services:
(a) advise the Debtor with respect to its powers and duties;
(b) advise the Debtor with respect to its responsibilities in
complying with the U.S. Trustee's Operating Guidelines and
Reporting Requirements and with the rules of the court;
(c) prepare legal documents necessary in the administration of
the case;
(d) protect the interest of the Debtor in all matters pending
before the court; and
(e) represent the Debtor in negotiation with its creditors in
the preparation of a plan.
Brian McMahon, Esq., will be paid at his hourly rate of $450 plus
reimbursement.
Mr. McMahon disclosed in a court filing that his firm is a
"disinterested person" as the term is defined in Section 101(14) of
the Bankruptcy Code.
The firm can be reached through:
Brian K. McMahon, Esq.
Brian K. McMahon, PA
1401 Forum Way, Suite 730
West Palm Beach, FL 33401
Telephone: (561) 478-2500
Facsimile: (561) 478-3111
Email: brian@bkmbankruptcy.com
About The Law Offices of Travis R. Walker PA
The Law Offices of Travis R. Walker, P.A. based in Stuart, Florida,
provides legal services across multiple practice areas including
family law, divorce, probate and estate planning, personal injury,
real estate, business litigation, and mass torts. The firm also
handles bankruptcy, foreclosure defense, guardianship, appeals, and
cases involving human trafficking. It serves clients throughout
Florida, focusing on comprehensive legal representation for both
individual and business matters.
The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. S.D. Fla. Case No. 26-12448) on February
26, 2026. In the petition signed by Travis R. Walker Esq., managing
partner and president, the Debtor disclosed up to $10 million in
both assets and liabilities.
Judge Erik P. Kimball oversees the case.
Brian K. McMahon, PA represents the Debtor as legal counsel.
LEARNING CARE: Antares PCF Marks $415,000 1L Loan at 16% Off
------------------------------------------------------------
Antares Private Credit Fund has marked its $415,000 loan extended
to Learning Care Group (US) No. 2 Inc. to market at $347,000 or 84%
of the outstanding amount, according to Antares PCF's 10-K for the
fiscal year ended Dec. 31, 2025, filed with the U.S. Securities and
Exchange Commission.
Antares Private Credit Fund is a participant in a First Lien Term
Loan extended to Learning Care Group (US) No. 2 Inc. The 1L Loan
accrues interest at a rate of S + 4.00%, 7.65% per annum. The 1L
Loan matures on Aug. 11, 2028.
Antares Private Credit Fund is a business development company that
provides private credit and financing solutions to middle-market
borrowers.
The Fund is led by Vivek Mathew as Chief Executive Officer and
President and Thomas Sweeney as Chief Financial Officer and
Principal Accounting Officer.
The Fund can be reached at:
Vivek Mathew
Antares Private Credit Fund
320 South Canal Street, Suite 4200
Chicago, IL 60606
Telephone: (312) 638-4119
About Learning Care Group (US) No. 2 Inc.
Learning Care Group (US) No. 2 Inc. operates early childhood
education and childcare centers.
LEFKO LLC: Commences Subchapter V Bankruptcy in Florida
-------------------------------------------------------
On April 3, 2026, Lefko, LLC filed for Chapter 11 protection in the
Southern District of Florida. According to the court filing, the
debtor reports between $1 million and $10 million in liabilities
owed to 1–49 creditors.
A meeting of creditors under Section 341(a) to be held on May 8,
2026 at 09:00 AM by TELEPHONE.
About Lefko, LLC
Lefko, LLC is a limited liability company.
Lefko, LLC sought relief under Subchapter V of Chapter 11 of the
U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 26-14231) on April
3, 2026. In its petition, the debtor reports estimated assets of
$100,001–$1,000,000 and estimated liabilities of $1 million–$10
million.
The debtor is represented by Ivan J. Reich, Esq.
LEXORA INC: Voluntary Chapter 11 Case Summary
---------------------------------------------
Debtor: Lexora Inc.
369 Lexington Ave,
Floor 3
New York, NY 10017
Business Description: Lexora Inc., founded in 2009 and
headquartered in New York, sells bathroom and kitchen products
through online and showroom channels. The company offers vanities,
bathtubs, faucets, mirrors, lighting, and related accessories, and
it also works with factories in Asia to develop and source its
product lines.
Chapter 11 Petition Date: April 6, 2026
Court: United States Bankruptcy Court
Southern District of New York
Case No.: 26-10751
Debtor's Counsel: Robert L. Rattet, Esq.
DAVIDOFF HUTCHER & CITRON LLP
605 Third Avenue
34th Floor
New York, NY 10158
Tel: 212-557-7200
Fax: 212 286 1884
E-mail: rlr@dhclegal.com
Estimated Assets: $50,000 to $100,000
Estimated Liabilities: $1 million to $10 million
Andrey Bogan signed the petition in his capacity as president.
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 on
PacerMonitor at:
https://www.pacermonitor.com/view/UDMZF2A/LEXORA_INC__nysbke-26-10751__0001.0.pdf?mcid=tGE4TAMA
LIDO ADVISORS: Antares PCF Marks $3.5MM 1L Loan at 41% Off
----------------------------------------------------------
Antares Private Credit Fund has marked its $3,513,000 loan extended
to Lido Advisors, LLC to market at $2,072,000 or 59% of the
outstanding amount, according to Antares PCF's 10-K for the fiscal
year ended Dec. 31, 2025, filed with the U.S. Securities and
Exchange Commission on March 19, 2026.
Antares Private Credit Fund is a participant in a First Lien
Delayed Draw Term Loan extended to Lido Advisors, LLC. The 1L Loan
accrues interest at a rate of S + 4.75%, 8.40% per annum. The 1L
Loan matures on May 10, 2032.
Antares Private Credit Fund is a business development company that
provides private credit and financing solutions to middle-market
borrowers.
The Fund is led by Vivek Mathew as Chief Executive Officer and
President and Thomas Sweeney as Chief Financial Officer and
Principal Accounting Officer.
The Fund can be reached at:
Vivek Mathew
Antares Private Credit Fund
320 South Canal Street, Suite 4200
Chicago, IL 60606
Telephone: (312) 638-4119
About Lido Advisors, LLC
Lido Advisors, LLC provides investment advisory services. The
Company offers investment management, asset allocation, tax,
third-party asset management, financial planning, and other
consulting services. Lido Advisors serves its clients in the United
States.
LIDO ADVISORS: Antares PCF Marks $615,000 1L Loan at 50% Off
------------------------------------------------------------
Antares Private Credit Fund has marked its $615,000 loan extended
to Lido Advisors, LLC to market at $306,000 or 50% of the
outstanding amount, according to Antares PCF's 10-K for the fiscal
year ended Dec. 31, 2025, filed with the U.S. Securities and
Exchange Commission on March 19, 2026.
Antares Private Credit Fund is a participant in a First Lien
Revolver loan extended to Lido Advisors, LLC. The 1L Loan accrues
interest at a rate of S + 4.75%, 8.42% per annum. The 1L Loan
matures on May 10, 2032.
Antares Private Credit Fund is a business development company that
provides private credit and financing solutions to middle-market
borrowers.
The Fund is led by Vivek Mathew as Chief Executive Officer and
President and Thomas Sweeney as Chief Financial Officer and
Principal Accounting Officer.
The Fund can be reached at:
Vivek Mathew
Antares Private Credit Fund
320 South Canal Street, Suite 4200
Chicago, IL 60606
Telephone: (312) 638-4119
About Lido Advisors, LLC
Lido Advisors, LLC provides investment advisory services. The
Company offers investment management, asset allocation, tax,
third-party asset management, financial planning, and other
consulting services. Lido Advisors serves its clients in the United
States.
LIGADO NETWORKS: Hires Stretto Inc as Claims and Noticing Agent
---------------------------------------------------------------
Ligado Networks LLC seeks approval from the U.S. Bankruptcy Court
for the District of Delaware to hire Stretto, Inc. as replacement
claims, balloting and noticing agent.
Stretto will oversee the distribution of notices and will assist in
the maintenance, processing, and docketing of proofs of claim filed
in the Chapter 11 cases of the Debtors.
Prior to the petition date, the Debtors provided Stretto an advance
in the amount of $10,000.
Sheryl Betance, a senior managing director at Stretto, disclosed in
a court filing that the firm is a "disinterested person" as the
term is defined in Section 101(14) of the Bankruptcy Code.
The firm can be reached through:
Sheryl Betance
Stretto, Inc.
410 Exchange
Irvine, CA 92602
Telephone: (800) 634-7734
About Ligado Networks
Ligado Networks, formerly LightSquared, provides mobile satellite
services. The Debtor's satellite and terrestrial solutions,
combined with powerful, lower mid-band spectrum, serve to
supplement and broaden mobile coverage across the United States and
Canada. On the Web: http://www.ligado.com/
On January 5, 2025, Ligado Networks LLC and certain of its
affiliates each filed a voluntary petition for relief under Chapter
11 of the United States Bankruptcy Code (Bankr. D. Del. Lead
CaseNo. 25-10006).
Perella Weinberg Partners LP is serving as investment banker to
Ligado, FTI Consulting, Inc. is serving as financial advisor,
Milbank LLP is serving as legal counsel, and Richards, Layton &
Finger P.A. is serving as co-counsel. Omni Agent Solutions LLC is
the claims agent.
An ad hoc group of first lien creditors is being advised by
Guggenheim Securities, LLC as financial advisor, and by Sidley
Austin LLP as counsel. An ad hoc group of crossholding creditors is
being advised by Kirkland & Ellis LLP.
LIGHTBEAM BIDCO: Antares PCF Marks $3.7MM 1L Loan at 59% Off
------------------------------------------------------------
Antares Private Credit Fund has marked its $3,781,000 loan extended
to Lightbeam Bidco Inc. to market at $1,557,000 or 41% of the
outstanding amount, according to Antares PCF's 10-K for the fiscal
year ended Dec. 31, 2025, filed with the U.S. Securities and
Exchange Commission.
Antares Private Credit Fund is a participant in a First Lien
Delayed Draw Term Loan extended to Lightbeam Bidco Inc. The 1L Loan
accrues interest at a rate of S + 4.75 %, 8.40 % per annum. The 1L
Loan matures on May 6, 2030.
Antares Private Credit Fund is a business development company that
provides private credit and financing solutions to middle-market
borrowers.
The Fund is led by Vivek Mathew as Chief Executive Officer and
President and Thomas Sweeney as Chief Financial Officer and
Principal Accounting Officer.
The Fund can be reached at:
Vivek Mathew
Antares Private Credit Fund
320 South Canal Street, Suite 4200
Chicago, IL 60606
Telephone: (312) 638-4119
About Lightbeam Bidco Inc.
Lightbeam Bidco Inc. operates as a healthcare software solution.
LOIS BUSINESS: Otis Claimants Lose Bid to File Late Claim
---------------------------------------------------------
Judge Marvin Isgur of the U.S. Bankruptcy Court for the Southern
District of Texas denied the request of James Otis, his wife, and
two children to file a late claim in the bankruptcy case of Lois
Business Development Corporation.
The Otis Claimants seek a determination that their personal injury
claims against the Debtors are neither discharged nor enjoined by
the confirmed plan. They contend they were known creditors and
should have received actual notice of the bankruptcy.
In June 2022, James Otis allegedly sustained injuries at a Regal
movie theater owned by the Debtors. Mr. Otis sat in a broken chair
in the theater lobby, causing him to fall backward and hit his head
on the floor. Mr. Otis's children were present.
The deadline to file claims passed in January 2023. Mr. Otis did
not receive actual notice of bankruptcy and did not file a claim.
In June 2023, the Court confirmed the Debtors' chapter 11 plan,
effective July 2023.
Ten months after the bar date passed, in November 2023, Mr. Otis
filed his original complaint in California state court based on
injuries he sustained at the Debtors' theater. The complaint also
named his wife and children as plaintiffs. The Otis children bring
claims for negligent infliction of emotional distress. His wife
brings a claim for loss of consortium. The complaint was not
served on the Debtors until April 2024. Mr. Otis did not learn
about the bankruptcy until May 2024.
Based on the preponderance of the evidence, the Court finds that
Mr. Otis was a known creditor. Because Mr. Otis was a known
creditor who did not receive actual notice, Mr. Otis is not bound
by the plan discharge or injunction.
In the alternative, Mr. Otis's wife and children seek allowance of
a late filed claim.
According to the Court, the absence of actual notice does not
constitute excusable neglect. As unknown creditors, Mr. Otis's wife
and children were properly charged with constructive notice by
publication. Despite that notice, they failed to file a timely
claim. They have not identified circumstances beyond their control
that prevented a timely filing of a claim. Therefore, the Court
holds the request to file a late claim is denied.
Mr. Otis's wife and children also seek relief from the plan
discharge and injunction to adjudicate their personal injury claims
nominally against the Debtors to collect any proceeds from
insurance policies providing coverage for the claims.
In this case, the Debtor's insurance policy applicable to the Otis
claims contains an SIR in the amount of $400,000.00. Through the
end of December 2025, the Debtor incurred about $25,000 in defense
costs related to the Otis claims. The Debtor would have to incur
roughly another $375,000 in costs and liability before insurance
proceeds are available. Permitting the wife and children to proceed
on their claims would impose substantial financial burden on the
Debtors. The Court finds the Otis wife and children cannot obtain
relief from the plan injunction under the insurer exception to
discharge.
A copy of the Court's Memorandum Opinion dated April 1, 2026, is
available at https://urlcurt.com/u?l=l80MES
About Cineworld Group
London-based Cineworld Group PLC was founded in 1995 and is the
world's second-largest cinema chain. Cineworld operates 751 sites
with 9,000 screens in 10 countries, including the Cineworld and
Picturehouse screens in the UK and Ireland, Yes Planet in Israel,
and Regal Cinemas in the United States.
According to The Guardian, the Griedinger family, including Mooky's
brother and deputy chief executive, Israel, have struggled to
maintain control of the ailing business but have been forced to
reduce their stake from 28% in recent years. Cineworld's top five
investors include the Chinese Jangho Group at 13.8%, Polaris
Capital Management (7.82%), Aberdeen Standard Investments (4.98%)
and Aviva Investors (4.88%).
The London-listed Cineworld, which has run up debt of more than
$4.8 billion after losses soared during the pandemic, is pinning
its hopes on a meatier slate of movies in 2022 to bounce back from
a two-year lull.
Cineworld Group plc and 104 affiliates sought Chapter 11 protection
(Bankr. S.D. Texas Lead Case No. 22-90168) on
Sept. 7, 2022, estimating more than $1 billion in assets and debt.
Judge Marvin Isgur oversees the cases.
The Debtors tapped Kirkland & Ellis, LLP and Jackson Walker, LLP as
bankruptcy counsels; PJT Partners, LP as investment banker;
AlixPartners, LLP as restructuring advisor; and Ernst & Young, LLP
as tax services provider. Kroll Restructuring Administration, LLC
is the claims agent.
The U.S. Trustee for Region 7 appointed an official committee of
unsecured creditors in the Debtors' Chapter 11 cases on Sept. 23,
2022. The committee tapped Weil, Gotshal & Manges, LLP and
Pachulski Stang Ziehl & Jones, LLP as legal counsels; FTI
Consulting, Inc., as financial advisor; and Perella Weinberg
Partners, LP, as investment banker.
The Debtors' bankruptcy-exit plan was confirmed June 28, 2023.
LOS HERMANOS: Seeks Chapter 12 Bankruptcy in California
-------------------------------------------------------
On April 3, 2026, Los Hermanos Robledo LLC filed a voluntary
petition for Chapter 12 protection in the Northern District of
California Bankruptcy Court. According to its filing, the Debtor
reports liabilities between $1 million and $10 million owed to 1 to
49 creditors.
About Los Hermanos Robledo LLC
Los Hermanos Robledo LLC is a U.S.-based company engaged in
agricultural and farming-related operations.
Los Hermanos Robledo LLC sought relief under Chapter 12 of the U.S.
Bankruptcy Code (Bankr. Case No. 26-10218) on April 3, 2026. In its
schedules, the Debtor reports estimated assets of $0 to $100,000
and liabilities ranging from $1 million to $10 million.
The Debtor is represented by E. Vincent Wood, Esq. of Shepherd &
Wood LLP.
LUCKY BUCKS: Court Narrows Claims in Trive, et al. Adversary Case
-----------------------------------------------------------------
Chief Judge Karen B. Owens of the U.S. Bankruptcy Court for the
District of Delaware ruled on the motions to dismiss filed by
Defendants Trive Capital Management LLC, Trive Capital Fund III LP,
Trive Capital Fund III-A LP, TCFIII Luck LP, TCFIII Luck SPV LP,
TCFIII Luck Acquisition LLC, TCFIII Luck Holdings LLC, Southern
Star Gaming LLC, Quantum Gaming Corp, and Shravan Thadani ("Trive")
in the adversary proceeding captioned as LB NEWHOLDCO, LLC and
LUCKY BUCKS, LLC, Plaintiffs, v. TRIVE CAPITAL MANAGEMENT LLC, et.
al., Defendants, Adv. Proc. No. 25-50965 (Bankr. D. Del.).
Plaintiffs LB NewHoldCo, LLC and its subsidiary, Lucky Bucks LLC
are the successors in interest to debtors Lucky Bucks and its
parent Lucky Bucks HoldCo, LLC. Plaintiffs allege that Lucky Bucks'
founder Anil Damani launched a scheme to loot the Company with the
help of its Chief Operating Officer Shafik Kassam after Damani was
banned by the Georgia Lottery Commission from managing or operating
the Company. The scheme got underway in 2019, when the duo
allegedly began stealing assets and diverting contracts to entities
secretly controlled by Damani and then arranging for Lucky Bucks to
repurchase them at grossly inflated prices. The value of each
repurchased contract was based on artificially inflated monthly
revenue generated at the location to which each contract was tied.
This scheme caused the Company to overpay for the contracts and
overstate the contracts' value on its financials.
In 2020, defendant Trive took control of the Company when it
acquired a majority stake in HoldCo and secured the right to
appoint two of the three HoldCo board members. Rather than
curtailing Damani's looting, however, Trive worked with Damani and
his allies to siphon money from the Company on an even greater
scale. In the first phase of this scheme, Defendants used the
Company's artificially inflated financials to convince prospective
lenders to provide new debt, even though the Company was already
insolvent due to the ongoing looting, and then used that new debt
to fund a $203.6 million distribution -- OpCo Distribution -- to
themselves. In the second phase of the scheme, Defendants created a
new parent entity to take on even more debt for the purpose of
funding an additional $240 million in distributions -- Holdings
Distributions -- just months after the OpCo Distribution. The
burdens of the new debt, combined with the ongoing fraud, drove the
company into bankruptcy.
In June 2023, Lucky Bucks, HoldCo, and Holdings filed for chapter
11 protection. Following confirmation of the OpCo Debtors' plan of
reorganization, Plaintiffs commenced this adversary proceeding to
challenge the OpCo Distribution, asserting claims for, among other
things, fraudulent transfer, breach of fiduciary duty, and aiding
and abetting breach of fiduciary duty. Defendants seek dismissal of
the Complaint.
The first three counts of the Complaint assert claims to avoid and
recover the OpCo Distribution as an actual fraudulent transfer
pursuant to sections 544, 548, and 550 of the Bankruptcy Code and
Delaware and Georgia law. Defendants move to dismiss these claims
on two independent grounds: ratification and failure to state a
claim.
Plaintiffs have alleged five badges of fraud with respect to the
OpCo Distribution: that it involved transfers to insiders, for no
consideration, after incurring substantial debt, while Lucky Bucks
was insolvent, and involved a substantial portion of Lucky Bucks'
assets. For the first three badges, Defendants do not dispute that
they have been sufficiently alleged but instead argue that the
Court should ignore them because they are present in every case
involving transactions of this type.
As for the last two badges -- transfers while insolvent, involving
a substantial portion of the Debtor's assets -- Defendants argue
that these badges have not been sufficiently pled. Plaintiffs
describe in the Complaint how the alleged looting and resale scheme
occurring at the time of the OpCo Distribution led to significant
revenue losses for the OpCo Debtors, and that the OpCo Debtors'
balance sheet during this time reflected a negative $45 million
deficit. Because of the ongoing fraud, it is reasonable to infer
that this deficit was more significant. The Court finds these
allegations sufficient to support the last two badges of fraud.
Defendants take issue with Plaintiffs' reliance on the OpCo
Debtors' book value as an appropriate valuation method. However,
this question is best left for future expert testimony.
Having found that Plaintiffs have adequately alleged five badges of
fraud, the Court will deny the Motions for failure to state Counts
I through III.
In Count IV, Plaintiffs assert a claim for breach of fiduciary duty
under Delaware law against defendants Sekhri, Boyden, and Kassam,
each in their capacity as a HoldCo manager. Plaintiffs allege that
these defendants breached their fiduciary duties in authorizing the
OpCo Distribution by not acting in the interests of HoldCo and
instead acting in the interests of themselves and those who
appointed them. In Count V, Plaintiffs assert a claim against the
remaining defendants for aiding and abetting the breach of
fiduciary duty alleged in Count IV. Defendants argue multiple
grounds for dismissal of both claims, but the Court need only
consider one. Specifically, Defendants argue, and the Court agrees,
that Sekhri, Boyden, and Kassam owed no fiduciary duty to HoldCo
because, as permitted by Delaware law, the HoldCo LLC Agreement
(the "HoldCo Agreement") eliminated their fiduciary duties.
The Court will grant the Motions with respect to Count IV. Because
Count V depends upon the success of Count IV, the Court will also
grant the Motions with respect this claim.
In Count VI, Plaintiffs assert a claim for breach of fiduciary duty
under Georgia law against defendants Sekhri, Boyden, Kassam,
Bouskill, and Ijaz, each in their capacity as an officers of Lucky
Bucks. Plaintiffs allege that these defendants breached their
fiduciary duties to Lucky Bucks by approving and/or facilitating
the OpCo Distribution for the purpose of enriching certain
individuals at the expense of the Company. Defendants argue that
this claim fails because Plaintiffs cannot establish that
defendants owed fiduciary duties to Lucky Bucks under its
operating agreement.
The Court finds that Plaintiffs have sufficiently alleged the
claims. Plaintiffs have set forth facts suggesting that each of the
defendants played a role in the alleged scheme to defraud the
Company and was financially rewarded for doing so. The Court will
therefore deny the Motions with respect to Count VI.
In Counts VII and VIII, Plaintiffs assert claims for statutory
attorneys' fees and punitive damages under sections 13-6-11 and
51-12-5.1 of the Official Georgia Code. Defendants move to dismiss
these claims, correctly pointing out that these Georgia statutes do
not create an independent cause of action. They provide additional
relief for an underlying substantive state law claim. Having moved
to dismiss all underlying substantive state law claims, Defendants
argue that the Court should also dismiss these too.
For defendants Sekhri, Boyden, Kassam, Bouskill, and Ijaz, this
argument is moot because the Georgia claim for breach of fiduciary
duty will remain. For all other defendants (Trive and Damani), only
the fraudulent transfer claims asserted under the Bankruptcy Code
will remain following the issuance of this decision and dismissal
of Counts IV and V. Defendants contend that such claims cannot
support a claim for attorneys' fees or punitive damages because
section 550 of the Bankruptcy Code provides the only remedy for
avoided transfers. Accordingly, the Motions with respect to Counts
VII and VIII are granted with respect Trive and Damani.
In Count IX, Plaintiffs seek a declaratory judgment that
Defendants' alleged acts or omissions constitute actual fraud or
willful misconduct. Defendants move to dismiss on the grounds that
Plaintiffs lack a viable underlying cause of action .As with the
claims for statutory damage, the arguments with respect to this
claim have been mooted by the Court's rulings allowing the
fraudulent transfer and the Georgia fiduciary duty claims to
remain.
A copy of the Court's Memorandum Order dated March 30, 2026, is
available at https://urlcurt.com/u?l=WHSEA0 from PacerMonitor.com.
About Lucky Bucks
Lucky Bucks, LLC -- https://luckybucksga.com/ -- is a digital
skill-based COAM operator based in and incorporated under the laws
of the State of Georgia in the U.S. Its team has a combined 45
years of experience in the Georgia COAM industry.
After reaching a deal for a plan to equitize substantially all of
Lucky Bucks' secured debt, Lucky Bucks and its affiliates sought
protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.
Del. Lead Case No. 23-10758) on June 9, 2023. In the petition
signed by James Boyden, executive vice president, Lucky Bucks
disclosed up to $500 million in assets and up to $1 billion in
liabilities. As of the petition date, the Debtors have outstanding
funded debt obligations in the aggregate principal amount of $610
million.
Judge Karen B. Owens oversees the case.
Dennis F. Dunne, Esq., and Tyson Lomazow, Esq., at Milbank LLP; and
Russell C. Silberglied, Esq., at Richards, Layton & Finger P.A.,
serve as the Debtors' legal counsel. Evercore Group L.L.C. is the
Debtors' investment banker while M3 Advisory Partners, L.P., is the
financial advisor. Epiq Corporate Restructuring, LLC, serves as the
Debtors' claims and noticing agent. C Street Advisory Group, LLC
served as strategy and communications advisor to Lucky Bucks.
Akin Gump Strauss Hauer & Feld LLP and Cole Schotz PC served as
legal counsel, Greenhill & Co., LLC served as financial advisor,
and OnMessage Public Strategies served as the communications
advisor to the ad hoc group of lenders holding term loan secured
debt of Lucky Bucks. Latham & Watkins LLP served as legal counsel
to certain other lenders holding secured debt of Lucky Bucks.
* * *
In October 2023, Lucky Bucks, LLC announced the completion of its
restructuring process and successful emergence from Chapter 11.
Lucky Bucks' exit from the bankruptcy process concludes a swift
restructuring that received approval of the Bankruptcy Court for
the District of Delaware through confirmation of its Chapter 11
plan on July 28, 2023, and approval of the Georgia Lottery
Corporation on Sept. 29, 2023. The restructuring enabled Lucky
Bucks to reduce debt by over $500 million and inject substantial
new liquidity.
The Bankruptcy Court separately ordered that the Chapter 11
proceeding of Lucky Bucks Holdings LLC, the parent company of Lucky
Bucks LLC, be converted to a Chapter 7 liquidation at the behest of
its noteholders.
M&M CUSTARD: Seeks to Hire SC&H Group Inc. as Investment Banker
---------------------------------------------------------------
M&M Custard, LLC seeks approval from the U.S. Bankruptcy Court for
the District of Kansas to employ SC&H Group, Inc. as investment
banker.
The firm will render these services:
(i) familiarize itself with the business, operations, assets,
financial condition, and prospects of the Debtor;
(ii) advise the Debtor in analyzing its strategic alternatives
and structuring and effecting the financial aspects of any
Transaction;
(iii) design the appropriate process to effect and initiate any
Transaction, including any analysis of the various alternatives
and, if appropriate, the potential Counterparties to be contacted
for the Transaction;
(iv) prepare an information memorandum or other materials
about the Debtor and its Business for consideration by potential
Counterparties;
(v) contact potential Counterparties in connection with a
Transaction and require potential Counterparties to execute
Confidentiality Agreements in favor of the Debtor, unless
instructed to do otherwise;
(vi) facilitate the development of a Virtual Data Room (VDR)
with appropriate diligence materials for review by potential
Counterparties;
(vii) circulate any information memorandum and marketing
materials, provide access to the VDR or send materials to potential
Counterparties, after completing confidentiality documents;
(viii) coordinate diligence with potential Counterparties and
negotiate with and solicit offers from potential Counterparties.
Advise the Debtor in structuring a Transaction and make
recommendations as to whether or not a particular Transaction offer
should be accepted;
(ix) in connection with a bankruptcy proceeding governing a
potential Transaction, provide any relevant testimony and if
necessary, provide assistance with the submission of bid procedures
to the Court and conduct any auction that may result therefrom;
and
(x) if requested by Debtor, negotiate with various
stakeholders of the Debtor, including but not limited to, secured
and unsecured creditors and equity shareholders, in regard to the
possible financial restructuring of the existing claims of the
creditors and/or equity stakeholders of the Debtor.
SC&H will be compensated at these fees:
a. Monthly Fee: The Debtor shall be obligated to pay SC&H,
without notice or invoice, a nonrefundable cash fee of $20,000,
payable in advance, on the same day of such monthly period.
b. Transaction Fees. In addition to the other fees provided
for herein, the Company shall pay to SC&H a Transaction Fee in
connection with any Closing(s), as described below:
i. In the event the Company completes a Sale, a fee (the
"Sale Fee") to be paid upon the Closing of any Sale equal to the
sum of (i) three and one-half percent (3.5%) of the Total
Consideration up to and including $17.5 million, (ii) four and
one-half percent (4.5%) of the Total Consideration greater than
$17.5 million but less than $24 million and (iii) six percent
(6.0%) of the Total Consideration in excess of $24 million,
provided, however, the Sale Fee shall never be less than $500,000
(the "Minimum Transaction Fee"). By way of illustration only, if
the Total Consideration is $20 million, the Sale Fee would be
$725,000 (the sum of $612,500 (3.5% of $17.5 million) and $112,500
(4.5% of $2.5 million)).
ii. If the successful bidder is either Equity Bank (via
credit bid) or Freddy's Frozen Custard & Steakburgers, the Sale Fee
shall be discounted by one-third, with a Minimum Transaction Fee of
$333,000.
iii. The parties acknowledge that Total Consideration is
calculated cumulatively across all Sales, but the Minimum
Transaction Fee is only due one time.
iv. In the event the Company completes a Financing, a fee
(the "Financing Fee"), to be paid upon the Closing of any
Financing, equal to 1.5% of the gross amount of funded or committed
indebtedness, preferred or common equity, convertible or otherwise
equity-linked securities or obligations, provided, however, fifty
percent (50%) of the Financing Fee shall be credited against the
Restructuring Fee.
v. In the event the Company completes a Restructuring, a
fee (the "Restructuring Fee") equal to the Minimum Transaction Fee,
payable upon the Closing of the Restructuring, including, without
limitation, the confirmation and effectiveness of a Plan of
Reorganization.
vi. The parties acknowledge that more than one of a Sale
Fee, a Financing Fee, and a Restructuring Fee may be earned and
payable to SC&H pursuant to the provisions.
SC&H is a "disinterested person" within the meaning of section
101(14) of the Bankruptcy Code; (b) does not hold or represent an
interest materially adverse to the Debtors' estate.
The firm can be reached through:
Michael Fixler
SC&H Group, Inc.
226 Schilling Circle, Suite 300
Hunt Valley, MD 21031
Tel: (410) 403-1500
About M&M Custard, LLC
M&M Custard LLC, doing business as Freddy's Frozen Custard &
Steakburgers, operates 30+ franchise locations across six
Midwestern and Southern U.S. states. Headquartered in Overland
Park, Kansas, M&M Custard was founded in 2010, opened its first
location in Jefferson City, Missouri in 2012, and has expanded into
Missouri, Kansas, Illinois, southern Indiana, Kentucky, and
Tennessee. The Debtor operates fast-casual restaurants specializing
in steak burgers, hot dogs, and frozen custard, and manages its
stores through individual subsidiary LLCs, collectively holding 41
store franchise license agreements with Freddy's.
M&M Custard and its affiliates sought relief under Chapter 11 of
the U.S. Bankruptcy Code (Bankr. D. Kan. Lead Case No. 25-21650) on
November 14, 2025. In its petition, M&M Custard reports estimated
assets between $1 million and $10 million and estimated liabilities
between $10 million and $50 million.
The Debtors are represented by Colin N. Gotham, Esq., at Evans &
Mullinix, P.A.
MADISON BROTHERS: Commences Chapter 11 Bankruptcy in Texas
----------------------------------------------------------
On April 3, 2026, Madison Brothers Consulting Group, Inc filed for
Chapter 11 protection in the U.S. Bankruptcy Court for the Southern
District of Texas. According to court filings, the Debtor reports
between $1 million and $10 million in debt owed to between 1 and 49
creditors.
About Madison Brothers Consulting Group, Inc
Madison Brothers Consulting Group, Inc is a consulting firm that
provides advisory and professional services to businesses,
potentially including strategic, operational, and financial
consulting.
Madison Brothers Consulting Group, Inc sought relief under Chapter
11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-32279) on April
3, 2026. In its petition, the Debtor reports estimated assets of $1
million to $10 million and estimated liabilities of $1 million to
$10 million.
Honorable Bankruptcy Judge Jeffrey P. Norman handles the case.
The Debtor is represented by Vicky M. Fealy, Esq. of Fealy Law
Firm, PC.
MAJESTIC DESSERTS: Hires Lex Nova Law LLC as Bankruptcy Counsel
---------------------------------------------------------------
Majestic Desserts LLC seeks approval from the U.S. Bankruptcy Court
for the District of New Jersey to hire Lex Nova Law LLC as
bankruptcy counsel.
The firm's services include:
a. advising the Debtor with respect to its powers, duties and
responsibilities in its continuing management of its financial
affairs as a debtor- in possession;
b. advising the Debtor with respect to the preparation and
approval of a disclosure statement and plan of reorganization;
c. preparing necessary pleadings on behalf of the Debtor and
appearing before this Court regarding the same;
d. preparing a disclosure statement and plan of
reorganization;
e. advising the Debtor regarding procedural and operational
issues in its capacity as a debtor in possession; and
f. performing additional legal services as may be required to
facilitate the Debtor's reorganizational efforts.
The firm will be paid at these hourly rates:
Associates/Partners $425 - $975
E. Richard Dressel, Attorney $695
Paralegals $300 - $370
Mr. Dressel disclosed in a court filing that the firm is a
"disinterested person" as the term is defined in Section 101(14) of
the Bankruptcy Code.
The firm can be reached through:
E. Richard Dressel, Esq.
Lex Nova Law, LLC
10 E. Stow Road, Suite 250
Marlton, NJ 08053
Telephone: (856) 382-8211
Email: rdressel@lexnovalaw.com
About Majestic Desserts LLC
Majestic Desserts LLC sought protection for relief under Chapter 11
of the Bankruptcy Code (Bankr. D.N.J. Case No. 26-13281 on March
26, 2026, listing up to $50,000 in both assets and liabilities.
E. Richard Dressel, Esq. at Lex Nova Law, LLC serves as the
Debtor's counsel.
MAKHANI PROPERTIES: Seeks to Hire Marcus & Millichap as Broker
--------------------------------------------------------------
Makhani Properties, LLC seeks approval from the U.S. Bankruptcy
Court for the Western District of Texas to employ Marcus &
Millichap Real Estate Services as real estate broker.
The Debtor needs a real estate broker to market and sell its
properties located at:
(a) 1045 US HWY 83, Carrizo Springs, Dimmit County;
(b) 3080 TX Hwy 16, Tilden, McMullen County; and
(c) 16290 IH 35 S, Dilley, Frio County.
The firm will receive a commission at a flat fee of $600,000.
Salim Bhaidani, a broker at Marcus & Millichap Real Estate
Services, disclosed in a court filing that the firm is a
"disinterested person" as the term is defined in Section 101(14) of
the Bankruptcy Code.
The firm can be reached through:
Salim Bhaidani
Marcus & Millichap Real Estate Services
300 Throckmorton Street, Suite 1500
Fort Worth, TX 76102
Telephone: (817) 932-6100
Email: Salim.Bhaidani@marcusmillichap.com
About Makhani Properties LLC
Makhani Properties, LLC is a real estate holding company that owns
and manages a portfolio of commercial and residential properties
across Texas, including land parcels, residential real estate, and
income-producing truck stop and convenience store assets. The
company's holdings are located in Moore, Bulverde, Cottonwood
Shores, Junction, Carrizo Springs, Tilden, and Dilley, comprising
both fee simple interests and an equitable interest under a
contract for deed arrangement. Its portfolio includes
highway-adjacent development land and operating retail fuel and
truck stop properties, with an aggregate estimated value of
approximately $28.2 million.
Makhani Properties LLC sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. W.D. Tex. Case No. 26-50525) on March 1,
2026.
At the time of the filing, Debtor had estimated assets of between
$10,000,001 to $50 million and liabilities of between $10,000,001
to $50 million.
Judge Michael M. Parker oversees the case.
The Law Office of H. Anthony Hervol is Debtor's legal counsel.
MARE ISLAND: Committee Taps Keller Benvenutti Kim as Legal Counsel
------------------------------------------------------------------
The official committee of unsecured creditors appointed in the
Chapter 11 case of Mare Island Dry Dock, LLC seeks approval from
the U.S. Bankruptcy Court for the Eastern District of California to
employ Keller Benvenutti Kim LLP as counsel.
The firm's services include:
(a) provide legal advice to the committee with respect to its
duties and powers in the Chapter 11 Case;
(b) consult with the committee and the Debtor concerning
administration of the Chapter 11 case;
(c) assist the committee in its investigation of the acts,
conduct, assets, liabilities, and financial condition of the
Debtor, sales under section 363 of the Bankruptcy Code, litigation
relating to any of the foregoing, and any other matter relevant to
the Chapter 11 case;
(d) assist the committee in evaluating claims against the
estate;
(e) assist the committee in participating in the formulation
and confirmation of a Chapter 11 plan;
(f) assist the committee with any effort to request the
appointment of a trustee or examiner;
(g) advise and represent the committee in connection with
matters generally arising in the Chapter 11 case;
(h) represent the committee in negotiations with the Debtor
and other parties in connection with matters arising in the Chapter
11 case;
(i) appear before this Court, any other federal court, state
court or appellate court; and
(j) perform such other legal services as may be required and
which are in the interests of unsecured creditors or otherwise
directed by the committee.
The firm will be paid at these hourly rates:
Jane Kim, Partner $1,100
Traci Shafroth, Partner $925
Tyler Davis, Associate $625
Paralegal $350
In addition, the firm will seek reimbursement for expenses
incurred.
Ms. Kim disclosed in a court filing that the firm is a
"disinterested person" as the term is defined in Section 101(14) of
the Bankruptcy Code.
The firm can be reached through:
Jane Kim, Esq.
Keller Benvenutti Kim LLP
101 Montgomer Street, Suite 1950
San Francisco, CA 94104
Telephone: (415) 496-6723
Facsimile: (650) 636-9251
About Mare Island Dry Dock LLC
Mare Island Dry Dock, LLC operates as a maritime services company
providing ship repair, maintenance, and dry dock services. The
company supports commercial and industrial marine vessels through
repair, refurbishment, and related waterfront operations.
Mare Island Dry Dock, LLC sought relief under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. Case No. 26-20777) on February 14,
2026. In its petition, the Debtor disclosed up to $50 million in
both assets and liabilities.
The Honorable Bankruptcy Judge Christopher D. Jaime handles the
case.
Julie H. Rome-Banks, Esq., at Binder Malter Harris & Rome-Banks LLP
serves as the Debtor's counsel.
On March 17, 2026, the Office of the United States Trustee
appointed an official committee of unsecured creditors in this
Chapter 11 case. The committee tapped Keller Benvenutti Kim LLP as
counsel.
MARSHALL MEDICAL: Fitch Alters Outlook on 'BB+' IDR to Negative
---------------------------------------------------------------
Fitch Ratings has affirmed Marshall Medical Center, CA's (MMC)
Issuer Default Rating (IDR) at 'BB+'.
The Rating Outlook has been revised to Negative from Stable.
Entity/Debt Rating Prior
----------- ------ -----
Marshall Medical
Center (CA) LT IDR BB+ Affirmed BB+
Marshall Medical
Center (CA) /Issuer
Default Rating/1 LT LT BB+ Affirmed BB+
The Negative Outlook reflects MMC's $10.7 million operating loss in
fiscal 2025 (ended October 31) that reduced MMC's unrestricted
liquidity by about 18%. Its unrestricted cash and investments has
steadily declined since fiscal 2021, causing days cash on hand
(DCOH) to fall by more than half over this time. The fiscal 2025
operating loss pressures MMC's already thin financial profile.
However, an outpatient site that opened in late fiscal 2025 in El
Dorado Hills, a demographically stronger part of the market, has
led to improved volumes, and MMC's operating performance is
expected to recover in fiscal 2026.
Capex investments are required for MMC's growth plans and
California's seismic requirements. MMC's failure to improve
operations enough to stabilize and grow unrestricted cash and
investments and fund capital plans could lead to a rating
downgrade.
SECURITY
Bond security is not applicable since MMC's only rating is the
IDR.
KEY RATING DRIVERS
Revenue Defensibility - 'bbb'
Leading Market Position
MMC's leading market position for acute care services in its
primary service area (PSA) of El Dorado County drives the midrange
revenue defensibility. MMC's market share is about three times that
of its closest competitor. Competition is present on the PSA's
western edges from health systems in the greater Sacramento area,
such as Kaiser Permanente and Dignity Health. However, MMC's
outpatient growth strategy is to secure and grow its market share
by bringing clinical services closer to select local communities in
the PSA, including the western parts.
The PSA's demographics are mixed. El Dorado County's wealth
indicators are above state and national levels while population
growth is flat. Placerville, where MMC's main hospital is located,
has weaker wealth indicators, and population has declined over the
past five years. The county has a higher percentage of seniors than
state and national levels.
The payor mix reflects these demographics. Medicaid (Medi-Cal) and
self-pay accounted for approximately 20% of gross revenues in
fiscal 2025. That figure has edged down over the past five years as
Medicare rose to over 60% of gross revenues, reflecting the
county's older population. MMC also benefits from California's
Hospital Quality Assurance Fee program due to its demographics and
rural designation.
Operating Risk - 'bbb'
Weaker Fiscal 2025 Performance; Capex Above 1x
MMC had an operating loss in fiscal 2025 and posted a 1.7%
operating EBITDA margin, down from an average of just over 5% the
prior four years. The operating loss was caused by lower than
budgeted volumes, a slight shift in payor mix, and cost increases,
especially for labor and specialty pharmaceuticals. In response,
MMC has instituted an operational improvement plan.
To improve efficiency and costs, MMC reviewed its revenue cycle for
improvements, is managing its staffing more closely, changed
benefits, and worked to maximize group purchasing. To improve
revenue, MMC expanded operating room hours and updated its
charge-master. Newly negotiated payor contracts and the new
outpatient site in El Dorado Hills are also likely to improve
financial results.
The operating EBITDA in 1Q26 improved to 4.1%. MMC's first quarter
has historically been softer, and many of the initiatives, such as
the new payor contracts and charge-master updates, have yet to
fully run through operations.
Capex as a percentage of depreciation averaged 113.3% a year over
the past five years. Fitch expects capex to remain above 1x over
the next five years. MMC needs to make investments to be
seismically compliant beyond 2030 due to California's requirements
for hospitals. Additionally, MMC has growth plans, including
building out shelled space on the second floor of the El Dorado
Hills location.
Financial Profile - 'bb'
Limited Financial Flexibility
At fiscal YE 2025, MMC had approximately 52 DCOH and
cash-to-adjusted debt of approximately 52.6%. Both figures were
down YoY. DCOH and cash-to-adjusted debt peaked at 118 days and
86%, respectively, at fiscal YE 2021. Despite the operating loss,
MMC had adequate maximum annual debt service (MADS) coverage of
1.3x. This largely reflects MMC's light debt burden, with MADS as a
percentage of revenue a manageable 1.9%.
Fitch's baseline scenario shows operating EBITDA margins improving
to over 5% in the next two to three years. Volume growth, cost
management, and other initiatives will support the improvement.
Capex will be above depreciation. Base case results show the
balance sheet stabilizing and growing slightly through the cycle.
Fitch expects MADSx to be above 3x through most of the base case.
Fitch's stress case scenario, which stresses MMC's unrestricted
liquidity and operations, indicates that MMC has limited financial
flexibility at the current rating to handle stress, supporting the
Negative Outlook and emphasizing MMC's need to execute on its
operating improvement plan. MADSx remains adequate in the stress
case, which is a credit strength at the 'bb' financial profile.
Asymmetric Additional Risk Considerations
None.
RATING SENSITIVITIES
Factors that Could, Individually or Collectively, Lead to Negative
Rating Action/Downgrade
- Operating EBITDA margins remain below 5% for a sustained period;
- Further balance sheet deterioration, such that cash-to-adjusted
debt is expected to stabilize closer to 40%.
Factors that Could, Individually or Collectively, Lead to Positive
Rating Action/Upgrade
- A revision of the Outlook to Stable will require improved cash
flow such that MMC grows its unrestricted liquidity while funding
its capital plan;
- In the long term, a rating upgrade will require an improved
operating performance such that cash-to-adjusted is sustained above
75%, through the stress case.
PROFILE
MMC is a not-for-profit standalone hospital in Placerville, CA,
approximately 45 miles east of Sacramento. The hospital operates a
111-bed general acute-care hospital and outpatient sites and rural
clinics. MMC had approximately $357.8 million in operating revenue
in fiscal 2025.
ESG Considerations
The highest level of ESG credit relevance is a score of '3', unless
otherwise disclosed in this section. A score of '3' means ESG
issues are credit-neutral or have only a minimal credit impact on
the entity, either due to their nature or the way in which they are
being managed by the entity. Fitch's ESG Relevance Scores are not
inputs in the rating process; they are an observation on the
relevance and materiality of ESG factors in the rating decision.
ME DEVELOPMENT: Hires Orantes Law Firm P.C. as Bankruptcy Counsel
-----------------------------------------------------------------
ME Development Company LLC seeks approval from the U.S. Bankruptcy
Court for the Central District of California to hire The Orantes
Law Firm, P.C. as general bankruptcy counsel.
The firm will provide these services:
(a) advise the Debtor regarding matters of bankruptcy law and
concerning the requirement of the Bankruptcy Code, and Bankruptcy
Rules relating to the administration of this case, and the
operation of the Debtor's estate as a debtor in possession;
(b) represent the Debtor in proceedings and hearings in the
court involving matters of bankruptcy law;
(c) assist in compliance with the requirements of the Office of
the United States Trustee;
(d) provide the Debtor legal advice and assistance with respect
to the Debtor's powers and duties in the continued operation of the
Debtor's business and management of property of the estate;
(e) assist the Debtor in the administration of the estate's
assets and liabilities;
(f) prepare necessary applications, answers, motions, orders,
reports and/or other legal documents on behalf of the Debtor;
(g) assist in the collection of all accounts receivable and
other claims that the Debtor may have and resolve claims against
the Debtor's estate;
(h) provide advice, as counsel, concerning the claims of secured
and unsecured creditors, prosecution and/or defense of all
actions;
(i) prepare, negotiate, prosecute and attain confirmation of a
plan of reorganization; and
(j) other compensation arrangements.
Giovanni Orantes will receive an hourly rate of $510, and an hourly
rate of $160 applies to paralegals and law clerks.
The Orantes Law Firm, P.C. 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:
Giovanni Orantes, Esq.
THE ORANTES LAW FIRM, P.C.
3435 Wilshire Blvd. 27th Floor
Los Angeles, CA 90010
Telephone: (213) 389-4362
Facsimile: (877) 789-5776
E-mail: go@gobklaw.com
About ME Development Company LLC
ME Development Company, LLC sought protection under Chapter 11 of
the U.S. Bankruptcy Code (Bankr. C.D. Calif. Case No. 26-11888) on
Feb. 27, 2026, with $1 million to $10 million in assets and
liabilities. Moctesuma Esparza, manager, signed the petition.
Giovanni Orantes, Esq. at THE ORANTES LAW FIRM, A.P.C. represents
the Debtor as legal counsel.
MICHELLE ANNE: Seeks to Hire Lane Law Firm PLLC as Legal Counsel
----------------------------------------------------------------
Michelle Anne Company, doing business as Lashes de Bella &
Skincare, asks the U.S. Bankruptcy Court for the Western District
of Texas to hire The Lane Law Firm, PLLC as counsel.
The firm will render these services:
(a) assist, advise and represent the Debtor relative to the
administration of the Chapter 11 case;
(b) assist, advise and represent the Debtor in analyzing its
assets and liabilities, investigate the extent and validity of lien
and claims, and participate in and review any proposed asset sales
or dispositions;
(c) attend meetings and negotiate with the representatives of
the secured creditors;
(d) assist the Debtor in the preparation, analysis, and
negotiation of any plan of reorganization and disclosure statement
accompanying any plan of reorganization;
(e) take all necessary action to protect and preserve the
interests of the Debtor;
(f) appear, as appropriate, before this Court, the appellate
courts, and other courts in which matters may be heard and to
protect the interests of the Debtor before said courts and the
United States Trustee; and
(g) perform all other necessary legal services in this case.
The firm will be paid at these rates:
Robert Lane, Partner $650 per hour
Joshua Gordon, Partner $625 per hour
Matthew Bourda, Sr. Counsel $625 per hour
Zach Casas, Associate $575 per hour
Kyle Garza, Associate $550 per hour
Paralegals $250 per hour
In addition, the firm will seek reimbursement for expenses
incurred.
The firm received multiple payments from the Debtor totaling
$35,000.
Mr. Lane disclosed in a court filing that the firm is a
"disinterested person" as the term is defined in Section 101(14) of
the Bankruptcy Code.
The firm can be reached through:
Robert C. Lane, Esq.
The Lane Law Firm, PLLC
6200 Savoy, Suite 1150
Houston, TX 77036
Telephone: (713) 595-8200
Facsimile: (713) 595-8201
Email: notifications@lanelaw.com
About Michelle Anne Company
Michelle Anne Company owns an esthetic and skincare studio.
The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. W.D. Tex. Case No. 26-10524-smr) on March
27, 2026. In the petition signed by Michelle Flores, owner, the
Debtor disclosed up to $50,000 in assets and up to $1 million in
liabilities.
Judge Shad M. Robinson oversees the case.
Robert C Lane, Esq., at The Lane Law Firm, represents the Debtor as
legal counsel.
MICHELLE ANNE: Seeks to Tap Lisa S. Johnston, CPA as Accountant
---------------------------------------------------------------
Michelle Anne Company, doing business as Lashes de Bella &
Skincare, asks the U.S. Bankruptcy Court for the Western District
of Texas to hire Lisa S. Johnston, CPA, PLLC as accountant.
The Debtor has employed Lisa Johnston since 2024 for accounting
services. Debtor seeks to continue this employment.
Lisa Johnston is engaged to provide accounting services to the
Debtor at a weekly rate of $100. Total monthly estimate is $400.
Debtor believes these rates are comparable to similar professionals
in the area.
As disclosed in the court filings, Lisa Johnston represent no
interests adverse to Debtor or the estate in the matters upon which
it is to be engaged.
The firm can be reached through:
Lisa S. Johnston, CPA
Lisa S. Johnston, CPA, PLLC
PO Box 49370
Austin, TX 78765
Tel: (512) 704-9500
About Michelle Anne Company
Michelle Anne Company owns an esthetic and skincare studio.
The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. W.D. Tex. Case No. 26-10524-smr) on March
27, 2026. In the petition signed by Michelle Flores, owner, the
Debtor disclosed up to $50,000 in assets and up to $1 million in
liabilities.
Judge Shad M. Robinson oversees the case.
Robert C Lane, Esq., at The Lane Law Firm, represents the Debtor as
legal counsel.
MICHIGAN MATHEMATICS: S&P Affirms 'BB+' Rating on Revenue Bond
--------------------------------------------------------------
S&P Global Ratings affirmed its 'BB+' long-term rating on Michigan
Mathematics and Science Academy's (MMSA) existing revenue bonds.
The outlook is stable.
S&P said, "We believe MMSA is affected by demographic pressures in
its service area from a declining school-aged population, which is
causing an increasingly competitive landscape for students. We view
this as an elevated social capital risk that could result in
challenges with enrollment trends. We analyzed the school's
environmental and governance factors and consider them neutral in
our credit rating analysis.
"The stable outlook reflects our expectation that over the outlook
period, MMSA will continue to adjust its finances as needed such
that the school will maintain sufficient lease-adjusted MADS
coverage and liquidity. In addition, the outlook reflects our
expectation that the school will remain in compliance with all of
its covenants.
"We could consider a negative rating action if MMSA's financial
performance, lease-adjusted MADS coverage, or liquidity weakens.
Additionally, if enrollment fails to stabilize, we could lower the
rating.
"While we view this as unlikely in the outlook period, should
material enrollment growth strengthen the school's demand profile,
improving its overall financial performance, lease-adjusted MADS
coverage, and liquidity, we could raise the rating."
MISS AMERICA: Lawyer Appeals Court-Imposed $500MM Penalty
---------------------------------------------------------
Carolina Bolado of Law360 reports that an attorney sanctioned for
submitting fraudulent documents in a $500 million Miss America
ownership dispute and using those documents to help trigger a
bankruptcy filing has appealed the sanctions order. On Monday,
April 6, 2026, he filed notice that he is taking the case to the
Eleventh Circuit Court of Appeals.
The sanctions arose from a contentious legal battle between rival
groups claiming control of the Miss America organization. A judge
found that the attorney's conduct in presenting questionable
evidence in connection with the litigation and bankruptcy filing
violated professional standards and warranted monetary sanctions,
according to report.
In moving the case to the Eleventh Circuit, the attorney asserts
that the sanctions were imposed in error or under an incorrect
interpretation of law. The appeal will test the scope of judicial
authority to discipline counsel in high‑profile commercial cases,
the report states.
About Miss America Competition LLC
Miss America Competition LLC is an annual competition open to women
from the United States between the ages of 18 and 28. The
competition's inception as a "bathing beauty review" was an act of
rebellion during a time when women weren't permitted to wear
swimsuits in public. In 1945, the organization started awarding
scholarships to the winner instead of prize money, making Miss
America one of the first organizations in the United States to
offer college scholarships to women.
Miss America Competition LLC sought relief under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 24-22288) on
November 22, 2024. In the petition filed by Glenn Straub, as sole
member and manager, the Debtor reports estimated assets between
$500,000 and $1 million and estimated liabilities between $1
million and $10 million.
Honorable Bankruptcy Judge Erik P. Kimball handles the case.
The Debtor is represented by Craig I. Kelley, Esq., at KELLEY
KAPLAN & ELLER, PLLC, in West Palm Beach, Florida.
MONARCH FINCO: Antares PCF Marks $1.5MM 1L Loan at 67% Off
----------------------------------------------------------
Antares Private Credit Fund has marked its $1,573,000 loan extended
to Monarch Finco, LLC to market at $516,000 or 33% of the
outstanding amount, according to Antares PCF's 10-K for the fiscal
year ended Dec. 31, 2025, filed with the U.S. Securities and
Exchange Commission on March 19, 2026.
Antares Private Credit Fund is a participant in a First Lien
Delayed Draw Term Loan extended to Monarch Finco, LLC. The 1L Loan
accrues interest at a rate of S + 4.25%, 7.90% per annum. The 1L
Loan matures on Oct. 29, 2032.
Antares Private Credit Fund is a business development company that
provides private credit and financing solutions to middle-market
borrowers.
The Fund is led by Vivek Mathew as Chief Executive Officer and
President and Thomas Sweeney as Chief Financial Officer and
Principal Accounting Officer.
The Fund can be reached at:
Vivek Mathew
Antares Private Credit Fund
320 South Canal Street, Suite 4200
Chicago, IL 60606
Telephone: (312) 638-4119
About Monarch Finco, LLC
Monarch Finco, LLC is a bank holding company. The Company, through
its banking subsidiary, provides banking services to individuals
and businesses.
MOUNTAIN VISTA: Trustee Taps J.S. Held LLC as Financial Advisor
---------------------------------------------------------------
David P. Stapleton, the Chapter 11 trustee of Mountain Vista
Holdings, LLC, seeks approval from the U.S. Bankruptcy Court for
the Central District of California to hire J.S. Held LLC, as his
financial advisors.
The firm will prepare monthly operating reports, provide general
accounting and bookkeeping, oversee the preservation of the
entitlement process on the Property, and provide other advisory
services as the Trustee may require.
The firm will be compensated at its customary hourly rates which
currently range from $175 to $995 per hour.
David P. Stapleton, senior managing director at J.S. Held, assured
the court that his firm is disinterested within the meaning of 11
U.S.C. Secs. 327(a) and 101(14).
The firm can be reached through:
David P. Stapleton
J.S. Held, LLC
50 Jericho Quadrangle, Suite 117
Jericho, N.Y. 11753
Phone: (516) 621-2900
About Mountain Vista Holdings LLC
Mountain Vista Holdings, LLC is a single-asset real estate company
in Los Angeles, Calif.
Mountain Vista Holdings sought protection under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. C.D. Calif. Case No. 25-13296) on
November 19, 2025, with $8,200,200 in assets and $4,786,000 in
liabilities. D. Scott Abernethy, manager, signed the petition.
Judge Scott C. Clarkson presides over the case.
James Mortensen, Esq., at Socal Law Group, PC represents the Debtor
as bankruptcy counsel.
MOUNTAIN VISTA: Trustee Taps San Diego Land as Land Use Attorney
----------------------------------------------------------------
David P. Stapleton, the Chapter 11 trustee of Mountain Vista
Holdings, LLC, seeks approval from the U.S. Bankruptcy Court for
the Central District of California to hire San Diego Land Lawyers
as his land use attorney.
The scope of the engagement is limited to providing legal services
related to land use, entitlement strategy, and related matters
within its expertise as counsel, including coordinating directly
with County staff and County counsel to:
1. finalize the public improvement agreement;
2. structure bonding in a manner acceptable to the County;
3. secure required approvals, including Board of Supervisors
action; and
4. coordinate the recordation of the final map.
The firm will render services at Robin Munro Madaffer's hourly rate
of $850. In addition, the firm will be reimbursed its actual,
out-of-pocket expenses.
Robin Munro Madaffer, a principal of San Diego Land Lawyers,
assured the court that his firm is disinterested within the meaning
of 11 U.S.C. Secs. 327(a) and 101(14).
The firm can be reached through:
Robin Munro Madaffer, Esq.
San Diego Land Lawyers, Inc.
1620 Fifth Ave #400
San Diego, CA 92101
Phone: (619) 239-7600
About Mountain Vista Holdings LLC
Mountain Vista Holdings, LLC is a single-asset real estate company
in Los Angeles, Calif.
Mountain Vista Holdings sought protection under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. C.D. Calif. Case No. 25-13296) on
November 19, 2025, with $8,200,200 in assets and $4,786,000 in
liabilities. D. Scott Abernethy, manager, signed the petition.
Judge Scott C. Clarkson presides over the case.
James Mortensen, Esq., at Socal Law Group, PC represents the Debtor
as bankruptcy counsel.
MPH RESTAURANT: Seeks to Hire Bach Law Offices as Legal Counsel
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MPH Restaurant, LLC seeks approval from the U.S. Bankruptcy Court
for the Northern District of Illinois to employ Bach Law Offices,
Inc. as counsel.
The firm will provide these services:
(a) represent the Debtor in matters concerning negotiation
with creditors;
(b) prepare a plan and disclosure statement;
(c) examine and resolve claims filed against the estate;
(d) prepare and prosecute adversary matters; and
(e) otherwise to represent the Debtor in matters before this
Court.
The firm will be paid at these hourly rates:
Paul Bach, Attorney $425
Penelope Bach, Attorney $425
The firm received a retainer of $10,000, plus a filing fee of
$1,738 from the Debtor.
Mr. Bach disclosed in a court filing that the firm is a
"disinterested person" as the term is defined in Section 101(14) of
the Bankruptcy Code.
The firm can be reached through:
Paul M. Bach, Esq.
Bach Law Offices, Inc.
P.O. Box 1285
Northbrook, IL 60062
Telephone: (847) 564-0808
About MPH Restaurants LLC
MPH Restaurants, LLC is an Illinois-based company engaged in
operating restaurant establishments, offering food and dining
services to customers. The company participates in the hospitality
and food service industry.
MPH Restaurants, LLC sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. Case No. 26-05071) on March 23, 2026. In
its petition, the Debtor reports estimated assets between $0 and
$100,000 and estimated liabilities between $1,000,000 and
$10,000,000.
Honorable Bankruptcy Judge Jacqueline P. Cox handles the case. The
Debtor is represented by Paul M. Bach, Esq., at Bach Law Offices.
MULTI-COLOR CORP: Seeks to Hire Kirkland & Ellis as Legal Counsel
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Multi-Color Corporation and its affiliates seek approval from the
U.S. Bankruptcy Court for the District of New Jersey to employ
Kirkland & Ellis LLP and Kirkland & Ellis International LLP as
counsel.
The firm's services include:
(a) advise the Debtors with respect to their powers and duties
in the continued management and operation of their businesses and
properties;
(b) advise and consult on the conduct of these Chapter 11
cases;
(c) attend meetings and negotiate with representatives of
creditors and other parties in interest;
(d) take all necessary actions to protect and preserve the
Debtors' estates;
(e) prepare pleadings in connection with these Chapter 11
cases;
(f) represent the Debtors in connection with obtaining
authority to continue using cash collateral and postpetition
financing;
(g) advise the Debtors in connection with any potential sale
of assets;
(h) appear before the Court and any appellate courts to
represent the interests of the Debtors' estates;
(i) advise the Debtors regarding tax matters;
(j) take any necessary action on behalf of the Debtors to
negotiate, prepare, and obtain approval of a disclosure statement
and confirmation of a Chapter 11 plan and all documents related
thereto; and
(k) perform all other necessary legal services for the Debtors
in connection with the prosecution of these Chapter 11 cases.
The firm will be paid at these hourly rates:
Partners $1,395 - $2,975
Of Counsel $875 - $2,495
Associates $825 - $1,775
Paraprofessionals $385 - $775
In addition, the firm will seek reimbursement for expenses
incurred.
On October 9, 2025, the Debtors paid $3,000,000 to the firm as
special purpose retainer.
Steven Serajeddini, a partner at Kirkland & Ellis, also provided
the following in response to the request for additional information
set forth in Section D of the Revised U.S. Trustee Guidelines:
Question: Did Kirkland agree to any variations from, or
alternatives to, Kirkland's standard billing arrangements for this
engagement?
Answer: No.
Question: Do any of the Kirkland professionals in this
engagement vary their rate based on the geographic location of the
Debtors' Chapter 11 cases?
Answer: No.
Question: If Kirkland has represented the Debtors in the 12
months prepetition, disclose Kirkland's billing rates and material
financial terms for the prepetition engagement, including any
adjustments during the 12 months prepetition. If Kirkland's billing
rates and material financial terms have changed postpetition,
explain the difference and the reasons for the difference.
Answer: Kirkland's current hourly rates for services rendered
on behalf of the Debtors range as follows:
Partners $1,395 - $2,975
Of Counsel $875 - $2,495
Associates $825 - $1,775
Paraprofessionals $385 - $775
Kirkland represented the Debtors during the nine-month period
prior to the Petition Date, using the hourly rates listed below:
Partners $1,295 - $2,675
Of Counsel $875 - $2,245
Associates $785 - $1,625
Paraprofessionals $355 - $705
Question: Have the Debtors approved Kirkland's budget and
staffing plan, and, if so, for what budget period?
Answer: Yes, for the period from January 29, 2026 through
April 29, 2026.
Mr. Serajeddini disclosed in a court filing that the firm is a
"disinterested person" as the term is defined in Section 101(14) of
the Bankruptcy Code.
The firm can be reached through:
Steven N. Serajeddini, Esq.
Kirkland & Ellis LLP
601 Lexington Avenue
New York, NY 10022
Telephone: (212) 446-4800
Facsimile: (212) 446-4900
Email: steven.serajeddini@kirkland.com
About Multi-Color Corp.
Multi-Color Corporation (MCC) provides prime label solutions to
some of the world's most recognizable brands across a broad range
of consumer-oriented end categories. Founded in 1916 and now
headquartered in Atlanta, Georgia, the Company operates more than
90 facilities across over 25 countries, including 39 in North
America, and employs approximately 12,800 people worldwide.
Multi-Color Corp. and its affiliates sought relief under Chapter 11
of the U.S. Bankruptcy Code (Bankr. D.N.J. Lead Case No. 26-10910)
on January 29, 2026. In its petition, MCC listed assets between $1
billion and $10 billion and liabilities of $5.9 billion.
The Honorable Bankruptcy Judge Michael B. Kaplan handles the case.
Kirkland & Ellis LLP and Cole Schotz P.C. are serving as legal
counsel, Evercore is serving as investment banker, AlixPartners is
serving as financial advisor, Quinn Emanuel Urquhart & Sullivan,
LLP is serving as special counsel to the Special Committee of LABL,
Inc.'s Board of Directors, and FGS Global is serving as strategic
communications advisor to the Company. Kurtzman Carson Consultants,
LLC, doing business as Verita Global, is the claims agent.
Debevoise & Plimpton LLP and Latham & Watkins LLP are serving as
legal counsel to CD&R and Moelis & Company LLC is serving as
financial advisor. Milbank LLP and PJT Partners serve as legal
counsel and financial advisor, respectively, to the ad hoc group of
secured creditors.
MY TOWN PROPERTIES: Commences Chapter 7 Bankruptcy in Colorado
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On April 1, 2026, My Town Properties LLC d/b/a Siren's Bar & G
filed for Chapter 7 protection in the U.S. Bankruptcy Court for the
District of Colorado. According to court filings, the Debtor
reports between $100,001 and $1,000,000 in debt owed to between 1
and 49 creditors.
About My Town Properties LLC d/b/a Siren's Bar & G
My Town Properties LLC d/b/a Siren's Bar & G is a
hospitality-related business engaged in bar and food service
operations.
My Town Properties LLC d/b/a Siren's Bar & G sought relief under
Chapter 7 of the U.S. Bankruptcy Code (Bankr. Case No. 26-12148) on
April 1, 2026. In its petition, the Debtor reports estimated assets
of $0 to $100,000 and estimated liabilities of $100,001 to
$1,000,000.
Honorable Bankruptcy Judge Kimberley H. Tyson handles the case.
The Debtor is represented by John Cimino, Esq. of Cimino Law
Office, LLC.
NAS LOGISTICS: Hires Davis Ermis & Roberts as Bankruptcy Counsel
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NAS Logistics, LLC seeks approval from the U.S. Bankruptcy Court
for the Northern District of Texas to employ Davis, Ermis &
Roberts, PC as counsel.
The firm will render these services:
(a) give the Debtor legal advice with respect to its powers
and duties in the continued operation of the business and
management of its property;
(b) prepare on behalf of the Debtor necessary legal papers;
and
(c) perform all other legal services for the Debtor which may
be necessary herein.
The hourly rates of the firm's counsel and staff are as follows:
Craig Davis, Attorney $650
Legal Assistants $190
Mr. Davis disclosed in a court filing that the firm is a
"disinterested person" as the term is defined in Section 101(14) of
the Bankruptcy Code.
The firm can be reached through:
Craig D. Davis, Esq.
Davis, Ermis & Roberts, PC
2000 E. Lamar Blvd., Ste. 780
Arlington, TX 76006
Telephone: (972) 263-5922
Facsimile: (972) 262-3264
About NAS Logistics LLC
NAS Logistics LLC is a freight transportation company based in
Grand Prairie, Texas. It operates as an interstate carrier
authorized for hire, primarily hauling general freight.
NAS Logistics LLC sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. N.D. Tex. Case No. 26-41387) on March 30,
2026. In the petition signed by Nahla Hamed, member or general
manager, the Debtor disclosed $1,602,223 in total assets and
$2,367,478 in total liabilities.
Judge Mark X. Mullin oversees the case.
Craig D. Davis, Esq., at Davis, Ermis & Roberts, PC serves as the
Debtor's counsel.
NB ELEMENT DTS: Case Summary & 20 Largest Unsecured Creditors
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Debtor: NB Element, DTS
26421 Crown Valley Parkway
Mission Viejo, CA 92691
Business Description: NB Element, DTS, a Delaware Statutory
Trust based in Mission Viejo, California, owns a single multifamily
residential property at 6730 4th Avenue, Sacramento. The trust
leases apartments mainly to students, generating rental income
managed by its sponsor, Versity Investments. Classified under NAICS
5311, it operates solely as a lessor of this single property, with
all financial and operational activity tied to the Sacramento
housing community.
Chapter 11 Petition Date: April 7, 2026
Court: United States Bankruptcy Court
District of Delaware
Case No.: 26-10502
Debtor's Counsel: Jamie L. Edmonson, Esq.
ROBINSON & COLE LLP
1201 N. Market Street
Suite 1406
Wilmington, DE 19801
Tel: 302-516-1700
Email: jedmonson@rc.com
Estimated Assets: $50 million to $100 million
Estimated Liabilities: $50 million to $100 million
The petition was signed by Brian Nelson as manager of NB Element
ST, LLC.
A full-text copy of the petition is available for free on
PacerMonitor at:
https://www.pacermonitor.com/view/LNYRBCI/NB_Element_DTS__debke-26-10502__0001.0.pdf?mcid=tGE4TAMA
List of Debtor's 20 Largest Unsecured Creditors:
Entity Nature of Claim Claim Amount
1. Arreola's' Complete Trade Debt $28,059
Landscape Service
8671 Morrison Creek Drive
Suite 100
Sacramento, CA 95828
Email: landscape@arreolas.net
Phone: 916-387-6777
2. Book and Ladder, LLC Trade Debt $63,316
130 Vantis Drive
Suite 160
Aliso Viejo, CA
Tel: 949-209-8499
3. City of Sacramento Taxes $324,092
915 I Street
Room 1214
Sacramento, CA 95814
4. Crew Enterprises, LLC Trade Debt $576,835
29911 Niguel Road
#6009
Laguna Niguel, CA 92607
Tel: 949-540-9164
5. Franchise Tax Board $40,976
PO Box 942857
Sacramento, CA
94257-0500
6. Green Way Shuttles Trade Debt $54,770
3509 Post Valley Drive
O Fallon, MO 63368
Email: ggaoil@yahoo.com
Phone: 314-422-2020
7. HD Supply Facilities Management Trade Debt $28,105
10641 Scripps
Summit Court
San Diego, CA 92131
Email: customercare@hdsupply.com
Phone: 877-694-4932
8. Hightower Management LLC Trade Debt $16,748
248 E. Highland Avenue
Suite 1
San Bernardino, CA 92404
Tel: 909-883-5357
9. Hue & Cry, Inc. Trade Debt $18,389
6009-100 Auburn Boulevard
Citrus Heights, CA 95621
Email: info@hueandcry.com
Phone: 916-961-0900
10. Initial Response Security, Inc. Trade Debt $27,510
3 Wayne Court
Sacramento, CA 95829
Phone: 916-330-4418
11. Kimball, Tirey & St. John LLP Legal Fees $48,852
9401 E. Stockton Boulevard
Suite 140
Elk Grove, CA 95624
Kelli Dodson
Email: kelli.dodson@kts-law.com
Phone: 844-239-7948
12. MultiPro Property Trade Debt $106,965
Solutions, Inc.
100 South Ashley Drive
Suite 700
Tampa, FL 33602
Tel: 916-796-1336
13. PG&E Utilities $18,921
P.O. Box 997300
Sacramento, CA
95899-7300
Phone: 800-743-5000
14. Rent Dynamics Trade Debt $26,221
91 E. 700 S.
Logan, UT 84321
Email: support@rentdynamics.com
Phone: 866-513-7368
15. RM Interiors CA, LLC Trade Debt $50,447
545 Jefferson
Boulevard #12
West Sacramento, CA 95605
Email: info@rminteriorsca.com
Phone: 530-782-2823
16. SMUD Trade Debt $105,207
6301 S Street
Sacramento, CA 95817
Email: customerservics@smud.org
Phone: 888-742-7683
17. Terminix Processing Center Trade Debt $14,397
P.O. Box 740608
Cincinnati, OH
45274-0608
Email: customerservice@terminix.com
Phone: 855-485-6300
18. The Sherwin Williams Co. Trade Debt $18,388
101 W. Prospect Avenue
Cleveland, OH 44115
Tel: 216-566-2297
19. Waste Management Trade Debt $15,664
Corporate Services, Inc
8761 Younger Creek Drive
Sacramento, CA 95828
Email: customersupport@wm.com
Phone: 916-387-1400
20. Western Landscape, Inc. Trade Debt $35,158
2415 Front Street
West Sacramento, CA 95691
Email: info@igwestern.com
Phone: 916-375-8873
NELIPAK HOLDING: Antares PCF Marks $1.8MM 1L Loan at 86% Off
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Antares Private Credit Fund has marked its $1,855,000 loan extended
to Nelipak Holding Company to market at $264,000 or 14% of the
outstanding amount, according to Antares PCF's 10-K for the fiscal
year ended Dec. 31, 2025, filed with the U.S. Securities and
Exchange Commission.
Antares Private Credit Fund is a participant in a First Lien
Revolver extended to Nelipak Holding Company. The 1L Loan accrues
interest at a rate of S + 5.50%, 9.17% per annum. The 1L Loan
matures on March 26, 2031.
Antares Private Credit Fund is a business development company that
provides private credit and financing solutions to middle-market
borrowers.
The Fund is led by Vivek Mathew as Chief Executive Officer and
President and Thomas Sweeney as Chief Financial Officer and
Principal Accounting Officer.
The Fund can be reached at:
Vivek Mathew
Antares Private Credit Fund
320 South Canal Street, Suite 4200
Chicago, IL 60606
Telephone: (312) 638-4119
About Nelipak Holding Company
Nelipak Holding Company is a manufacturer of specialized packaging
products, likely serving healthcare and industrial end market.
NELIPAK HOLDING: Antares PCF Marks $2.4MM 1L Loan at 39% Off
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Antares Private Credit Fund has marked its $2,486,000 loan extended
to Nelipak Holding Company to market at $1,521,000 or 61% of the
outstanding amount, according to Antares PCF's 10-K for the fiscal
year ended Dec. 31, 2025, filed with the U.S. Securities and
Exchange Commission.
Antares Private Credit Fund is a participant in a First Lien
Delayed Draw Term Loan extended to Nelipak Holding Company. The 1L
Loan accrues interest at a rate of S + 5.50%, 9.15% per annum. The
1L Loan matures on March 26, 2031.
Antares Private Credit Fund is a business development company that
provides private credit and financing solutions to middle-market
borrowers.
The Fund is led by Vivek Mathew as Chief Executive Officer and
President and Thomas Sweeney as Chief Financial Officer and
Principal Accounting Officer.
The Fund can be reached at:
Vivek Mathew
Antares Private Credit Fund
320 South Canal Street, Suite 4200
Chicago, IL 60606
Telephone: (312) 638-4119
About Nelipak Holding Company
Nelipak Holding Company is a manufacturer of specialized packaging
products, likely serving healthcare and industrial end market.
NGUYEN WIN: Lender Seeks to Prohibit Cash Collateral Access
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Citibank, N.A., acting as trustee for CMLTI Asset Trust, ask the
U.S. Bankruptcy Court for the Northern District of Oklahoma to
prohibit Nguyen Win Properties, LLC from using cash collateral,
compel turnover or sequestration of rental income, and provide
adequate protection of its secured interest.
The request arises from a loan transaction dated February 13, 2025,
in which the Debtor executed a promissory note in the original
amount of $228,750.00. To secure this debt, the Debtor also
executed a mortgage and related agreements, including an assignment
of leases and rents, granting Citibank a first-priority lien on a
residential property located in Tulsa County, Oklahoma, along with
a security interest in all associated rental income generated from
that property.
Citibank asserts that its mortgage and assignment of rents create a
valid, perfected, and superior lien over both the property and any
rents, profits, or income derived from it, taking priority over any
interest of the Debtor or the bankruptcy estate.
The Debtor is currently collecting rent from tenants at the
property, and such rental income qualifies as cash collateral under
11 U.S.C. Section 363. Because cash collateral cannot be used by a
debtor without either creditor consent or court approval with
adequate protection, Citibank argues that the Debtor's continued
use of these funds is improper and prejudicial to its secured
interest.
Citibank requests that the court prohibit the Debtor from using any
rental income, require the Debtor to turn over all rents already
collected, and ensure that the Movant receives adequate protection
for its collateral position. This could include measures such as
restricting access to funds or ensuring payments sufficient to
protect against any decline in the value of the collateral.
A copy of the motion is available at https://urlcurt.com/u?l=WQQaII
from PacerMonitor.com.
About Nguyen Win
Properties
Nguyen Win Properties LLC, based in Tulsa, Oklahoma, operates as a
residential real estate and property management company, holding
multiple single-family lots and subdivision properties across
Tulsa, Broken Arrow, Mounds, Porter, and Wagoner County. The
company's portfolio primarily consists of fee simple residential
properties, which it manages and offers for lease.
Nguyen Win Properties sought protection under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. N.D. Okla. Case No. 25-11795) on
November 24, 2025, with $27,160,442 in assets and $22,927,424 in
liabilities. Bao Quoc Mai Nguyen, manager/member, signed the
petition.
Paul R. Thomas oversees the case.
Ron D. Brown, Esq., at Brown Law Firm, PC represents the Debtor as
counsel.
Citibank, N.A., acting as trustee for CMLTI Asset Trust, is
represented by:
Linda St. Pierre, Esq.
McCalla Raymer Leibcrt Pierce LLP
280 Trumbull St., 23 FL
Hartford. CT 06103
Telephone: (860) 240-9156
Email: Linda.St.Pierref@mccalla.com
NOTEPAD CRAFT: Court OKs McDonald Property Sale to Mike Erik Lewis
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The U.S. Bankruptcy Court for the Western District of Missouri,
Southwestern Division, has permitted Reynolds Craft, LLC, to sell
Property, free and clear of liens, claims, interests, and
encumbrances.
The Debtor previously operated as a construction business. Due to
economic downturns all
construction operations ceased in mid-2025.
Debtor owns several acres of Real Estate and has been designated a
Single Asset Real Estate Case.
The Debtor's Property is in McDonald's County, Missouri described
as follows:
The West Half of the Northeast Quarter of the Southeast Quarter and
the Northwest Quarter of the Southeast Quarter of the Southeast
Quarter of Section 2, Township 22, Range 33, McDonald County,
Missouri.
The Court has authorized the Debtor to sell Section 2, Township 22,
Range 33 of Lot #3 Builders Lane in Anderson, Missouri to Mike Erik
Lewis for $10,000.00.
The Debtor's proposed distribution of sale proceeds as outlined in
the Motion is approved.
About Reynolds Craft LLC
Reynolds Craft, LLC is a single-asset real estate entity that owns
residential properties located at 19 Builders Lane and 712 W.
Highway F in Anderson, Missouri, which together have an estimated
current value of $1.03 million.
Reynolds Craft sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. W.D. Mo. Case No. 25-30319) on December 11,
2025, with total assets of $1,040,189 and total liabilities of
$875,161. Brandon Reynolds, managing member of Reynolds Craft,
signed the petition.
Judge Brian T. Fenimore presides over the case.
Bradley D. McCormack, Esq., at Sader Law Firm LLC, represents the
Debtor as bankruptcy counsel.
OLIVE BRANCH: Case Summary & Nine Unsecured Creditors
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Debtor: Olive Branch Hospice, LLC
2819 Point Overlook
Gainesville GA 90501
Business Description: Olive Branch Hospice, LLC, a locally
owned Atlanta, Georgia-based provider, offers hospice care,
palliative home health care, and advanced illness support for
patients with serious, chronic, or life-limiting illnesses. The
company serves people in their homes or in care facilities, with a
focus on comfort and quality of life.
Chapter 11 Petition Date: April 6, 2026
Court: United States Bankruptcy Court
Northern District of Georgia
Case No.: 26-20503
Judge: Hon. James R. Sacca
Debtor's Counsel: Will Geer, Esq.
ROUNTREE, LEITMAN, KLEIN & GEER, LLC
2987 Clairmont Road Suite 350
Atlanta GA 30329
Tel: 404-584-1238
E-mail: wgeer@rlkglaw.com
Estimated Assets: $100,000 to $500,000
Estimated Liabilities: $1 million to $10 million
The petition was signed by Kimberly Griffith as CEO.
A full-text copy of the petition, which includes a list of the
Debtor's nine unsecured creditors, is available for free on
PacerMonitor at:
https://www.pacermonitor.com/view/NCHWGXQ/Olive_Branch_Hospice_LLC__ganbke-26-20503__0001.0.pdf?mcid=tGE4TAMA
OLIVER FORREST: Files Emergency Bid to Use Cash Collateral
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Oliver Forrest Apartments, LLC asks the U.S. Bankruptcy Court for
the Northern District of Georgia, Atlanta Division, for emergency
authorization to use cash collateral and provide adequate
protection.
The Debtor is seeking emergency court authorization to use cash
collateral to sustain limited operations while pursuing a sale of
its primary asset, which is a 99-unit apartment complex in Decatur,
Georgia. The asset is currently underperforming, with only 11
occupied units generating minimal rental income. The Debtor is
actively attempting to sell the property by May 3, 2026, and has
already filed a separate motion to approve that sale.
The Debtor explains that rental income may constitute cash
collateral subject to a lien held by Churchill MRA Funding I LLC,
which has a security interest in rents through a deed and
assignment. To prevent operational collapse and preserve asset
value, the Debtor seeks permission to use this cash collateral
strictly for essential, ordinary-course expenses outlined in a
proposed budget, while notably excluding insider payments such as
management fees or salaries. The Debtor argues that without access
to these funds, it would be forced to cease operations in a
disorderly manner, significantly harming the estate.
As adequate protection, the Debtor proposes to grant Lender a
replacement lien on post-petition assets of equivalent priority,
excluding avoidance action proceeds.
A copy of the motion is available at https://urlcurt.com/u?l=4rHB9p
from PacerMonitor.com.
About Oliver Forrest Apartments, LLC
Oliver Forrest Apartments, LLC sought protection under Chapter 11
of the U.S. Bankruptcy Code (Bankr. N.D. Ga. Case No. 25-64024) on
December 1, 2025. In the petition signed by Olivia Chevannes, sole
member, the Debtor disclosed up to $50,000 in assets and up to $10
million in liabilities.
Judge Sage M. Sigler oversees the case.
William Rountree, Esq., at Rountree, Leitman, Klein & Geer, LLC,
represents the Debtor as legal counsel.
ONYX-FIRE PROTECTION: Antares PCF Marks CAD$2.1M 1L Loan at 95% Off
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Antares Private Credit Fund has marked its CAD$2,149,000 loan
extended to Onyx-Fire Protection Services Inc. to market at
CAD$104,000 or 5% of the outstanding amount, according to Antares
PCF's 10-K for the fiscal year ended Dec. 31, 2025, filed with the
U.S. Securities and Exchange Commission.
Antares Private Credit Fund is a participant in a First Lien
Revolver loan extended to Onyx-Fire Protection Services Inc. The 1L
Loan accrues interest at a rate of C + 4.50%, 6.77% per annum. The
1L Loan matures on July 31, 2031.
Antares Private Credit Fund is a business development company that
provides private credit and financing solutions to middle-market
borrowers.
The Fund is led by Vivek Mathew as Chief Executive Officer and
President and Thomas Sweeney as Chief Financial Officer and
Principal Accounting Officer.
The Fund can be reached at:
Vivek Mathew
Antares Private Credit Fund
320 South Canal Street, Suite 4200
Chicago, IL 60606
Telephone: (312) 638-4119
About Onyx-Fire Protection Services Inc.
Onyx-Fire Protection Services Inc. provides fire protection, safety
systems and related services to commercial and industrial
customers.
ONYX-FIRE PROTECTION: Antares PCF Marks CAD$9.1M Loan at 27% Off
----------------------------------------------------------------
Antares Private Credit Fund has marked its CAD$9,057,000 loan
extended to Onyx-Fire Protection Services Inc. to market at
CAD$6,600,000 or 73% of the outstanding amount, according to
Antares PCF's 10-K for the fiscal year ended Dec. 31, 2025, filed
with the U.S. Securities and Exchange Commission.
Antares Private Credit Fund is a participant in a First Lien Term
Loan extended to Onyx-Fire Protection Services Inc. The 1L Loan
accrues interest at a rate of C + 4.50%, 6.77% per annum. The 1L
Loan matures on July 31, 2031.
Antares Private Credit Fund is a business development company that
provides private credit and financing solutions to middle-market
borrowers.
The Fund is led by Vivek Mathew as Chief Executive Officer and
President and Thomas Sweeney as Chief Financial Officer and
Principal Accounting Officer.
The Fund can be reached at:
Vivek Mathew
Antares Private Credit Fund
320 South Canal Street, Suite 4200
Chicago, IL 60606
Telephone: (312) 638-4119
About Onyx-Fire Protection Services Inc.
Onyx-Fire Protection Services Inc. provides fire protection, safety
systems and related services to commercial and industrial
customers.
OUACHITA COUNTY MEDICAL: Hires Forvis Mazars LLP as Accountant
--------------------------------------------------------------
Ouachita County Medical Center seeks approval from the U.S.
Bankruptcy Court for the Western District of Arkansas to hire
Forvis Mazars, LLP as accountant.
The firm will prepare Medicare and Medicaid cost reports for year
ending September 30, 2025.
Forvis Mazars has agreed to prepare the required Medicare and
Medicaid cost reports for $30,000.
Forvis Mazars, LLP is a "disinterested person" as defined by
Bankruptcy Code Sec. 101(14), according to court filings.
The firm can be reached through:
Derek Pierce, CPA
Forvis Mazars, LLP
111 Center Street Suite 1600
Little Rock, AR 72201
Tel: (501) 954-6352
About Ouachita County Medical Center
Ouachita County Medical Center is a rural acute care hospital based
in Camden, Arkansas. The medical center provides emergency care,
general patient services, and select specialty programs, serving as
a primary health care resource for Ouachita County residents and
underserved communities nearby.
Ouachita County Medical Center filed its voluntary petition for
relief under Chapter 11 of the Bankruptcy Code (Bankr. W.D. Ark.
Case No. 26-70418) on March 9, 2026, listing $1,000,001 to $10
million in both assets and liabilities.
Judge Richard D Taylor presides over the case.
Kevin P. Keech, Esq. at Keech Law Firm, P.A. serves as the Debtor's
counsel.
PACKAGING COORDINATORS: Antares PCF Virtually Writes Off $2.5M Loan
-------------------------------------------------------------------
Antares Private Credit Fund has marked its $2,526,000 loan extended
to Packaging Coordinators Midco, Inc. to market at $68,000 or 3% of
the outstanding amount, according to Antares PCF's 10-K for the
fiscal year ended Dec. 31, 2025, filed with the U.S. Securities and
Exchange Commission.
Antares Private Credit Fund is a participant in a First Lien
Delayed Draw Term Loan extended to Packaging Coordinators Midco,
Inc. The 1L Loan accrues interest at a rate of S + 4.50%, 8.15% per
annum. The 1L Loan matures on Oct. 15, 2032.
Antares Private Credit Fund is a business development company that
provides private credit and financing solutions to middle-market
borrowers.
The Fund is led by Vivek Mathew as Chief Executive Officer and
President and Thomas Sweeney as Chief Financial Officer and
Principal Accounting Officer.
The Fund can be reached at:
Vivek Mathew
Antares Private Credit Fund
320 South Canal Street, Suite 4200
Chicago, IL 60606
Telephone: (312) 638-4119
About Packaging Coordinators Midco, Inc.
Packaging Coordinators Midco, Inc. is a provider of specialized
packaging and related services to healthcare and consumer
industries.
PALMAS ATHLETIC: Court OKs Deal on Cash Collateral Access
---------------------------------------------------------
The U.S. Bankruptcy Court for the District of Puerto Rico approved
an agreement between Palmas Athletic Club Corp. and UBS Trust
Company of Puerto Rico regarding the use of cash collateral.
On August 18, 2025, the Debtor and UBS Trust jointly filed a motion
and stipulation for the use of cash collateral and adequate
protection, which the court approved on August 25, 2025. Subsequent
extensions were approved: the first on October 29, 2025, extending
through January 1, with monthly adequate protection payments of
$80,000, and the second on December 22, 2025, extending through
March 31, maintaining the same payment terms.
Now, the Debtor and bond trustee received an additional extension
of the stipulation until May 31, with the monthly adequate
protection payments remaining at $80,000 and all other terms
unchanged. Both parties continue to reserve all rights, claims,
objections, or defenses under the Stipulation, and the bond trustee
explicitly reserves remedies related to any defaults by the Debtor.
A copy of the stipulation is available at
https://urlcurt.com/u?l=haCEKw from PacerMonitor.com.
About Palmas Athletic Club Corp.
Palmas Athletic Club Corp. owns and operates a 420-acre
recreational property within Palmas Del Mar Resort in Humacao,
Puerto Rico. The site includes two 18-hole golf courses, a
22,200-square-foot clubhouse, a 5,600-square-foot beach clubhouse,
and related facilities.
Palmas Athletic Club Corp. sought relief under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. D.P.R. Case No. 25-03489) on Aug. 4,
2025. In its petition, the Debtor reports total assets
of$16,793,944 and total liabilities of $36,514,983.
The Debtor tapped Charles A. Cuprill Hernandez, at Charles A.
Cuprill, PSC, Law Offices, as counsel; and CPA Luis R. Carrasquillo
& Co., PSC, as financial consultant.
UBS Trust Company of Puerto Rico, as Bond Trustee, is represented
by Marini Pietrantoni Muniz LLC.
PALMAS ATHLETIC: Court Says $128,000 HOA Claim Is Unsecured
-----------------------------------------------------------
Judge Maria de los Angeles Gonzalez of the U.S. Bankruptcy Court
for the District of Puerto Rico sustained Palmas Athletic Club
Corp.'s objection to claim number 9 filed by Palmas del Mar
Homeowners Association, Inc. The HOA's claim is allowed as a
general unsecured claim.
Debtor owns and operates golf course and resort facilities within
the Palmas del Mar development, located in Humacao, Puerto Rico.
On Aug. 21, 2025, UBS Trust Company of Puerto Rico filed a secured
claim in the amount of $46,447,882.22. UBS's claim is secured by a
first-priority mortgage lien recorded in the Puerto Rico Property
Registry pursuant to Deed No. 35 of Deed of Constitution of
Mortgage executed on Oct. 22, 2010. This mortgage is secured in the
principal amount of $33,371,862.87 with three properties in
Humacao: property 26,118 secures $28,448,145.40, property 26,391
secures $4,376,637.75, and property 26,472 secures $547,079.72.
On Sept. 6, 2025, the HOA filed a secured claim in the amount of
$152,230.00, which has since been reduced to $128,735.59, for
annual homeowners' association assessments for the years 2024 and
2025.
On Sept. 15, 2025, Debtor filed its objection to the HOA's claim
number 9. Debtor argues that the HOA's claim is not secured because
the covenants and bylaws do not grant it a secured status. Debtor
also contends that it does not owe money to the HOA due to a
Memorandum of Understanding between the parties, in which they
agreed to provide each other services and considerations resulting
in an offset of any homeowner's associations dues that could be
owed by Debtor. Under Debtor's financial analysis of payments made
under the MOU, the HOA owes Debtor $446,365.45.
On Oct. 8, 2025, the HOA opposed Debtor's objection to its claim.
The HOA asserts that the MOU was terminated in 2024 and, as a
result, the Debtor remains liable for assessment fees for 2024 and
2025. The HOA further contends that under its financial analysis of
the MOU, Debtor's liability ranges from $102,393.30, under the most
favorable scenario to the Debtor, to $326,184.20.
The HOA argues that it is an undisputed matter of public record
that its annual assessments constitute a charge and continuing lien
on Debtor's property, and thus are not "silent liens," but rather
perfected encumbrances of a secured nature. Accordingly, the HOA
maintains that the assessments for tax years 2024 and 2025 are
secured claims.
The HOA asserts that the deeds establishing the liens in its favor
to secure the payment of annual assessments were duly recorded and
made effective against third parties well before the liens granted
in favor of UBS in 2010 and therefore enjoy priority over such
subsequent encumbrances.
UBS points out that the mere fact that the HOA's covenants are
recorded does not transform an unrecorded assessment claim into a
perfected lien. UBS contends that while the covenants may establish
an obligation to pay assessments; they do not, by themselves,
perfect a lien for any specific amount.
The HOA asserts that its secured claim is not based on a silent
lien, but a public lien created under the Deed of Restrictive
Covenants, and not the Puerto Rico Horizontal Property Law.
The HOA asserts that its claim for unpaid annual property
assessments totaling $128,735.59 is secured and enjoys priority
over any subsequent mortgage liens. According to the HOA, its lien
arises from the 1972 Deed of Restrictive Covenants, as amended by
the 1997 Deed of Restrictive Covenants, and further amended by the
2019 Deed of Restrictive Covenants, which was duly recorded in the
Property Registry prior to the recordation of UBS's mortgage lien.
Therefore, the HOA contends UBS's secured claim in the amount of at
least $9,100,000 must be reduced by $128,735.59.
Debtor and UBS challenge the HOA's claim. They argue that the HOA
failed to perfect any lien through registration in the Property
Registry as required by Puerto Rico law, rendering its claim
unsecured. They contend that, even assuming the existence of a
perfected lien, the same would be wholly unsecured under 11 U.S.C.
Sec. 506(a) as the senior mortgage lien exceeds the property's
appraised value of $9,100,000.
Judge Gonzalez holds, "The mere recordation of the Deed of
Restrictive Covenants here does not convert an unspecified,
fluctuating obligation into a perfected lien. At most, the
covenants create a personal obligation to pay assessments; they do
not establish a secured claim enforceable against the property with
priority over duly recorded liens. Accordingly, claim number 9
filed by the HOA is allowed as a general unsecured claim in the
amount of $128,735.59."
A copy of the Court's Opinion and Order dated April 1, 2026, is
available at https://urlcurt.com/u?l=7hz2GR
About Palmas Athletic Club Corp.
Palmas Athletic Club Corp. owns and operates a 420-acre
recreational property within Palmas Del Mar Resort in Humacao,
Puerto Rico. The site includes two 18-hole golf courses, a
22,200-square-foot clubhouse, a 5,600-square-foot beach clubhouse,
and related facilities.
Palmas Athletic Club Corp. sought relief under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. D.P.R. Case No. 25-03489) on Aug. 4,
2025. In its petition, the Debtor reports total assets
of$16,793,944 and total liabilities of $36,514,983.
The Debtor tapped Charles A. Cuprill Hernandez, at Charles A.
Cuprill, PSC, Law Offices, as counsel; and CPA Luis R. Carrasquillo
& Co., PSC, as financial consultant.
UBS Trust Company of Puerto Rico, as Bond Trustee, is represented
by Marini Pietrantoni Muniz LLC.
PATHSTONE FAMILY: Antares PCF Marks $374,000 1L Loan at 76% Off
---------------------------------------------------------------
Antares Private Credit Fund has marked its $374,000 loan extended
to Pathstone Family Office LLC to market at $89,000 or 24% of the
outstanding amount, according to Antares PCF's 10-K for the fiscal
year ended Dec. 31, 2025, filed with the U.S. Securities and
Exchange Commission on March 19, 2026.
Antares Private Credit Fund is a participant in a First Lien
Revolver extended to Pathstone Family Office LLC. The 1L Loan
accrues interest at a rate of S + 5.00%, 8.77% per annum. The 1L
Loan matures on May 15, 2028.
Antares Private Credit Fund is a business development company that
provides private credit and financing solutions to middle-market
borrowers.
The Fund is led by Vivek Mathew as Chief Executive Officer and
President and Thomas Sweeney as Chief Financial Officer and
Principal Accounting Officer.
The Fund can be reached at:
Vivek Mathew
Antares Private Credit Fund
320 South Canal Street, Suite 4200
Chicago, IL 60606
Telephone: (312) 638-4119
About Pathstone Family Office LLC
Pathstone Family Office LLC is a wealth management and advisory
firm providing investment and financial planning services to
high-net-worth families and institutions.
PHOENIX FUND: Hires BDO Consulting Group LLC as Financial Advisor
-----------------------------------------------------------------
The Phoenix Fund LLC seeks approval from the U.S. Bankruptcy Court
for the District of Puerto Rico to employ BDO Consulting Group,
LLC, as financial advisor.
The professional services that BDO will render are:
(i) assist in the overall examination of the Fund and its
affiliates, including but not limited to, the analysis of
a. The Fund's capital structure,
b. each investment's capital structure, and
c. the Fund's related party transactions;
(ii) assist in the evaluation and categorization of the Fund's
investments, including analyzing historical financial results,
business plans, projections, current monetization potential, and
potential value;
(iii) assist in the analysis of potential specific transactions
presented to the Receiver related to any of the Fund's
investments;
(iv) assist in communications with key stakeholders as directed
by the Receiver;
(v) assist in the analysis of collateral, including
preparation of distribution analysis;
(vi) assist with potential litigation claims;
(vii) assist in negotiating and implementing Debtor in
Possession ("DIP") financing and/or cash collateral usage as
necessary;
(viii) provide oral and written court testimony as necessary;
and
(ix) other tasks as requested by the Receiver (collectively,
the "Financial Advisory Services").
The firm will be paid at these rates:
Principal/Managing Director $750 to $1,150
Director/ Senior Manager $650 to $850
Manager $550 to 750
Senior Associate $375 to $625
Associate $175 to $375
Evan Blum, a managing director at BDO Consulting Group, disclosed
in a court filing that the firm is a "disinterested person" as the
term is defined in Section 101(14) of the Bankruptcy Code.
The firm can be reached through:
Evan Blum
BDO Consulting Group LLP
90 Woodbridge Center Dr., 4th Floor
Woodbridge, NJ 07095
Telephone: (732) 750-0900
Facsimile: (732) 750-1222
About The Phoenix Fund LLC
The Phoenix Fund LLC is a Puerto Rico based private equity firm
formed in 2018 and headquartered in Guaynabo, Puerto Rico. The
company focuses on making strategic equity and debt investments in
privately held businesses in Puerto Rico and international
markets.
Phoenix Fund LLC sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D.P.R. Case No. 26-00712) on February 23,
2026.
Honorable Bankruptcy Judge Enrique S. Lamoutte Inclan handles the
case. In its petition, the Debtor reports estimated assets between
$500 million and $1 billion and estimated liabilities between $100
million and $500 million.
The Debtor is represented by Alexis Fuentes Hernandez, Esq. of
Fuentes Law Offices, LLC.
PICO-UNION HOUSING: Hires Grobstein Teeple as Financial Advisor
---------------------------------------------------------------
Pico-Union Housing Corporation seeks approval from the U.S.
Bankruptcy Court for the Central District of California to employ
Grobstein Teeple LLP as financial advisor.
The firm will render these services:
(a) obtain and evaluate financial records;
(b) evaluate assets and liabilities of the Debtor and estate;
(c) assist with projections and budget;
(d) prepare tax returns if requested;
(e) provide litigation consulting if required; and
(f) provide accounting and consulting sevices requested by the
Debtor and its counsel.
Mr. Kaiser received a retainer in the amount of $8,738 from the
Debtor.
Joseph Teeple, CPA at Grobstein Teeple, disclosed in a court filing
that the firm is a "disinterested person" as the term is defined in
Section 101(14) of the Bankruptcy Code.
The firm can be reached through:
Joshua R. Teeple, CPA
Grobstein Teeple LLP
23832 Rockfield Boulevard, Suite 245
Lake Forest, CA 92630
Telephone: (949) 381-5655
Facsimile: (949) 381-5665
Email: jteeple@gtllp.com
About Pico-Union Housing Corporation
Pico-Union Housing Corporation is a Los Angeles-based nonprofit
housing developer and property manager that develops, preserves,
and operates affordable housing for low-and very-low-income
households, primarily in the Pico-Union neighborhood and other
areas of the city.
The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. C.D. Cal. Case No. 26-12372 on March 12,
2026. In the petition signed by Gloria Farias, executive director,
the Debtor disclosed up to $50 million in both assets and
liabilities.
Judge Vincent P. Zurzolo oversees the case.
The Debtor tapped David M. Goodrich, Esq., at Golden Goodrich LLP
as counsel and Joshua R. Teeple, CPA, at Grobstein Teeple LLP as
financial advisor.
POLYPHASE ELEVATOR: Antares PCF's Marks $1M 1L Loan at 58% Off
--------------------------------------------------------------
Antares Private Credit Fund has marked its $1,025,000loan extended
to Polyphase Elevator Holding Company to market at $426,000 or 42%
of the outstanding amount, according to Antares PCF's 10-K for the
fiscal year ended Dec. 31, 2025, filed with the U.S. Securities and
Exchange Commission.
Antares Private Credit Fund is a participant in a First Lien
Delayed Draw Term Loan extended to Polyphase Elevator Holding
Company. The 1L Loan accrues interest at a rate of S + 5.00%, 8.65%
per annum. The 1L Loan matures on Nov. 24, 2032.
Antares Private Credit Fund is a business development company that
provides private credit and financing solutions to middle-market
borrowers.
The Fund is led by Vivek Mathew as Chief Executive Officer and
President and Thomas Sweeney as Chief Financial Officer and
Principal Accounting Officer.
The Fund can be reached at:
Vivek Mathew
Antares Private Credit Fund
320 South Canal Street, Suite 4200
Chicago, IL 60606
Telephone: (312) 638-4119
About Polyphase Elevator Holding Company
Polyphase Elevator Holding Company operates as a holding company.
The Company, through its subsidiaries, operates in the United
States.
POSH QUARTERS: Voluntary Chapter 11 Case Summary
------------------------------------------------
Debtor: Posh Quarters, LLC
3 21st Avenue South
Jacksonville Beach, FL 32250
Business Description: Posh Quarters, LLC, a single-asset real
estate entity, owns a residential property
at Three 21st Avenue South Jacksonville
Beach, FL 32250, valued at $1.1 million.
Chapter 11 Petition Date: April 7, 2026
Court: United States Bankruptcy Court
Middle District of Florida
Case No.: 26-01497
Judge: Hon. Jason A Burgess
Debtor's Counsel: Samantha L Dammer, Esq.
BLEAKLEY BAVOL DENMAN & GRACE
15316 N. Florida Avenue
Tampa, FL 33613
Tel: (813) 221-3759
E-mail: sdammer@bbdglaw.com
Total Assets: $1,113,000
Total Liabilities: $852,672
The petition was signed by Lisa J. Mitchell Adams as authorized
representative of the Debtor.
The Debtor has confirmed in the petition that it has no unsecured
creditors.
A full-text copy of the petition is available for free on
PacerMonitor at:
https://www.pacermonitor.com/view/XEDJFYA/Posh_Quarters_LLC__flmbke-26-01497__0001.0.pdf?mcid=tGE4TAMA
POWER GRID: Antares PCF Marks $890,000 1L Loan at 90% Off
---------------------------------------------------------
Antares Private Credit Fund has marked its $890,000 loan extended
to Power Grid Holdings, Inc. to market at $89,000 or 10% of the
outstanding amount, according to Antares PCF's 10-K for the fiscal
year ended Dec. 31, 2025, filed with the U.S. Securities and
Exchange Commission.
Antares Private Credit Fund is a participant in a First Lien
Revolver loan extended to Power Grid Holdings, Inc. The 1L Loan
accrues interest at a rate of S + 4.75 %, 8.40 % per annum. The 1L
Loan matures on Dec. 2, 2030.
Antares Private Credit Fund is a business development company that
provides private credit and financing solutions to middle-market
borrowers.
The Fund is led by Vivek Mathew as Chief Executive Officer and
President and Thomas Sweeney as Chief Financial Officer and
Principal Accounting Officer.
The Fund can be reached at:
Vivek Mathew
Antares Private Credit Fund
320 South Canal Street, Suite 4200
Chicago, IL 60606
Telephone: (312) 638-4119
About Power Grid Holdings, Inc.
Power Grid Holdings, Inc. owns and operates electric transmission
and distribution networks.
POWER LANE: Voluntary Chapter 11 Case Summary
---------------------------------------------
Debtor: Power Lane Logistics Distribution & Warehousing, Inc.
DBA Power Lane Logistics, Inc.
1852 West 11th Street
Suite 277
Tracy, CA 95376
Business Description: Power Lane Logistics Distribution &
Warehousing, Inc., doing business as Power Lane Logistics, Inc.,
was incorporated in Tracy, California, and provides freight
transportation, distribution support, and warehousing-related
services. The company moves general freight and related cargo
across state lines, serving customers that need logistics and
transportation support.
Chapter 11 Petition Date: April 7, 2026
Court: United States Bankruptcy Court
Eastern District of California
Case No.: 26-21958
Judge: Hon. Christopher D Jaime
Debtor's Counsel: David C. Johnston, Esq.
DAVID C. JOHNSTON
1600 G Street, Suite 102
Modesto, CA 95354
Tel: (209) 579-1150
E-mail: david@johnstonbusinesslaw.com
Estimated Assets: $1 million to $10 million
Estimated Liabilities: $1 million to $10 million
The petition was signed by Nilton Ayala as president.
The Debtor did not include a list of its 20 largest unsecured
creditors with the petition.
A full-text copy of the petition is available for free on
PacerMonitor at:
https://www.pacermonitor.com/view/CFVVIFI/Power_Lane_Logistics_Distribution__caebke-26-21958__0001.0.pdf?mcid=tGE4TAMA
PRESTIGE HEALTHCARE: Hires Lay Professional Services as Accountant
------------------------------------------------------------------
Prestige Healthcare Resources Inc. seeks approval from the U.S.
Bankruptcy Court for the District of Maryland to hire Lay
Professional Services, Inc. to provide accounting services.
The firm will render these services:
(a) provide continuing financial advice and services necessary
in the ordinary course of the Debtor's business;
(b) provide accounting advice and assistance with respect to
the formation, preparation and presentation of the Debtor's plan of
reorganization, including the preparation of financial statements
and reports which may be incorporated therein to provide creditors
with full disclosure;
(c) provide all reasonable accounting and financial records
and advice as may be requested by the Office of the U.S. Trustee if
any;
(d) assist in the preparation of periodic reports of
operations as may be required including any monthly operating
reports;
(e) assist in the preparation of all tax returns required to
be filed by the Debtor during the course of this proceeding;
(f) assist the CFO as a liaison between the Debtor and its
outside tax accountants to assure timely and accurate income tax
returns for 2025;
(g) work with the Debtor's independent auditors for the 2024
tax year in order to obtain the audit report for the Debtor and
related banks;
(h) assist the CFO in selecting a larger audit company to
complete the audit for the 2025 calendar year and to provide such
audit to the Debtor and the Office of the U.S. Trustee, if
requested;
(i) assist in the installation of a more robust version of
QuickBooks;
(j) assist in simplifying the Debtor's chart of accounts to
speed up the monthly closing of the books;
(k) review the Debtor's transition from an S-Corporation to
C-Corporation for the 2026 calendar year;
(l) review, analyze and maintain accurate accounts receivable
balances;
(m) create processes and procedures that will minimize
write-offs and/or bad debts;
(n) advise as to the tax consequences of any proposed plan of
reorganization; and
(o) provide any and all other tax and accounting support
services as requested by the Debtor.
LPS will charge the Debtor a flat monthly rate of $7,500 for its
services with a minimum of 30 hours being provided per month.
Lay Professional Services, Inc. is a "disinterested person" as that
term is defined in Sec. 101(14) of the Bankruptcy Code, according
to court filings.
The firm can be reached through:
Harry Lay, CPA
Lay Professional Services, Inc.
9321 South Toledo Ave
Tulsa, OK 74137
Phone: (918) 748-5800
Email: HarryL@laypsi.com
About Prestige Healthcare Resources Inc.
Prestige Healthcare Resources Inc., incorporated in Maryland in
2009, operates as a behavioral health core service agency providing
mental health and related support services to individuals in
Washington, D.C., Prince George's County, and Baltimore City,
Maryland, and is recognized as a certified provider in the
behavioral health sector, offering therapy, mental health
rehabilitative services, substance use disorder programs, elderly
and persons with physical disabilities waiver case management,
non-medical respite, problem gambling assistance, and assertive
community treatment team services.
Prestige Healthcare Resources Inc. filed its voluntary petition for
relief under Chapter 11 of the Bankruptcy Code (Bankr. D. Md. Case
No. 26-10955) on January 29, 2026, listing $1 million to $10
million in both assets and liabilities. The petition was signed by
John S. Smith, Jr. as president.
Joseph Selba, Esq. at TYDINGS ROSENBERG LLP serves as the Debtor's
counsel.
PSI SERVICES: Seeks to Hire WatsonRice LLP as Accountant
--------------------------------------------------------
PSI Services III Inc. seeks approval from the U.S. Bankruptcy Court
for the District of Columbia to employ WatsonRice LLP as
accountants and auditors.
The Debtor requires an auditor to assist in the production of
audited financial statements required under its government
contracts. The Debtor requires an accountant to prepare Form 990
tax returns.
Watson Rice charges $27,000 for the audited financial statements
and $2,500 for
the filing Form 990. The Debtor previously provided a $10,000
retainer to Watson Rice on November 26, 2025 for work on the 2024
audit.
As disclosed in the court filings, Watson Rice is a "disinterested
person" as that term is defined in section 101(14) of the
Bankruptcy Code.
The firm can be reached through:
Marshall Blair
WatsonRice LLP
31 West 34th Street, Suite 7006
New York, NY 10001
Tel: (212) 447-7300
Fax: (212) 683-6031
About PSI Services III Inc.
PSI Services III, Inc., also known as PSI Family Services, provides
behavioral health and social services including outpatient mental
health treatment, rehabilitation programs, and counseling for
individuals and families. The organization also offers foster care,
adoption, and family support services delivered under programs
funded by federal and state agencies. PSI Services III, Inc.
operates community-based health and social service programs
primarily in Washington, D.C. and the surrounding Maryland region.
PSI Services III sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D.D.C. Case No. 26-00097) on Mar. 3, 2026.
In the petition signed by Shawn Rubbin, chief advancement officer,
the Debtor disclosed up to $10 million in both assets and
liabilities.
Judge Elizabeth L. Gunn oversees the case.
The Debtor tapped Justin P. Fasano, Esq., at McNamee Hosea, PA as
counsel.
QUALITY AUTOMOTIVE: Antares PCF Marks $2MM 1L Loan at 94% Off
-------------------------------------------------------------
Antares Private Credit Fund has marked its $2,000,000 loan extended
to Quality Automotive Services, LLC to market at $121,000 or 6% of
the outstanding amount, according to Antares PCF's 10-K for the
fiscal year ended Dec. 31, 2025, filed with the U.S. Securities and
Exchange Commission.
Antares Private Credit Fund is a participant in a First Lien
Delayed Draw Term Loan extended to Quality Automotive Services,
LLC. The 1L Loan accrues interest at a rate of S + 5.00 %, 8.67 %
per annum. The 1L Loan matures on July 16, 2027.
Antares Private Credit Fund is a business development company that
provides private credit and financing solutions to middle-market
borrowers.
The Fund is led by Vivek Mathew as Chief Executive Officer and
President and Thomas Sweeney as Chief Financial Officer and
Principal Accounting Officer.
The Fund can be reached at:
Vivek Mathew
Antares Private Credit Fund
320 South Canal Street, Suite 4200
Chicago, IL 60606
Telephone: (312) 638-4119
About Quality Automotive Services, LLC
Quality Automotive Services, LLC is offers oil changes and other
preventative maintenance services for automobiles.
QUICK QUACK: Antares PCF Marks $3.3MM 1L Loan at 79% Off
--------------------------------------------------------
Antares Private Credit Fund has marked its $3,378,000 loan extended
to Quick Quack Car Wash Holdings, LLC to market at $706,000 or 21%
of the outstanding amount, according to Antares PCF's 10-K for the
fiscal year ended Dec. 31, 2025, filed with the U.S. Securities and
Exchange Commission.
Antares Private Credit Fund is a participant in a First Lien
Delayed Draw Term Loan extended to Quick Quack Car Wash Holdings,
LLC. The 1L Loan accrues interest at a rate of S + 4.75%, 8.42% per
annum. The 1L Loan matures on June 10, 2031.
Antares Private Credit Fund is a business development company that
provides private credit and financing solutions to middle-market
borrowers.
The Fund is led by Vivek Mathew as Chief Executive Officer and
President and Thomas Sweeney as Chief Financial Officer and
Principal Accounting Officer.
The Fund can be reached at:
Vivek Mathew
Antares Private Credit Fund
320 South Canal Street, Suite 4200
Chicago, IL 60606
Telephone: (312) 638-4119
About Quick Quack Car Wash Holdings, LLC
Quick Quack Car Wash Holdings, LLC is an automatic car wash with
Unlimited Memberships and Free vacuums (most locations) in
California, Texas, Arizona, Colorado, and Utah.
QXO INC: S&P Raises Debt Ratings to 'BB', Off CreditWatch Positive
------------------------------------------------------------------
S&P Global Ratings resolved the CreditWatch placement and raised
its ratings on QXO Inc.'s (BB-/Stable/--) first-lien term loan and
senior secured notes (both issued by subsidiary QXO Building
Products Inc.) following the closing of its previously announced
acquisition of Kodiak Building Partners.
S&P said, "We raised our issue-level ratings on QXO's term loan and
notes to 'BB' from 'BB-' and removed them from CreditWatch with
positive implications, where we placed them on Feb. 18, 2026. We
also revised the associated recovery rating to '2' (85%) from '3'
(55%). The recovery rating indicates our expectation for
substantial recovery in the event of payment default. All Kodiak's
debt was repaid; therefore, the addition of the Kodiak business
without more funded debt improves recovery prospects for QXO
lenders in our hypothetical default scenario."
Issue Ratings--Recovery Analysis
Key analytical factors
-- QXO's capital structure consists of a $2 billion asset-based
lending (ABL) revolving credit facility (not rated), an $850
million term loan B due in 2032, and $2.25 billion of senior
secured notes due in 2032.
-- S&P's simulated default scenario contemplates a default in 2030
stemming from a severe downturn in the company's end markets (U.S.
residential and nonresidential roofing, lumber, and other building
materials), heightened competition, and significant price increases
imposed by suppliers that it cannot pass on to customers. These
adverse developments hamper margins and cash flow, pressuring QXO's
ability to meet its financial obligations, prompting the need for a
bankruptcy filing or restructuring.
-- S&P said, "Our emergence EBITDA assumption contemplates a
rebound in profitability following the sharp cyclical downturn that
we believe is required for the company to default with the present
capital structure. As a result, our EBITDA assumption does not
purport to represent a default-level EBITDA, which we think could
be moderately lower. The 5.5x multiple is within the 5.0x-6.0x
range that we generally use for building products companies."
Simulated default assumptions
-- Year of default: 2030
-- ABL draw at default: 60%
-- Emergence EBITDA: $758 million
-- EBITDA multiple: 5.5x
-- Gross recovery value: $4.17 billion
Simplified waterfall
-- Net enterprise value at default (after 5% administrative
costs): $3.96 billion
-- Priority claims and adjustments (60% usage of the $2 billion
U.S. ABL facility): $1.2 billion
-- Total collateral value for secured claims: $2.7 billion
-- Secured claims: $3.16 billion
--Recovery expectation for term loan: 70%-90% (rounded estimate
85%)
Note: debt amounts include six months of accrued interest that we
assume will be owed at default.
R & E TRUCKING: Seeks Chapter 7 Bankruptcy in Alabama
-----------------------------------------------------
On April 4, 2026, R & E Trucking LLC filed for Chapter 7 protection
in the U.S. Bankruptcy Court for the Middle District of Alabama.
According to court filings, the Debtor reports between $1 million
and $10 million in debt owed to between 1 and 49 creditors.
About R & E Trucking LLC
R & E Trucking LLC is a transportation company engaged in freight
hauling and logistics services, supporting the movement of goods
across regional routes.
R & E Trucking LLC sought relief under Chapter 7 of the U.S.
Bankruptcy Code (Bankr. Case No. 26-30916) on April 4, 2026. In its
petition, the Debtor reports estimated assets of $0 to $100,000 and
estimated liabilities of $1 million to $10 million.
Honorable Bankruptcy Judge Bess M. Parrish Creswell handles the
case.
Carly B. Wilkins serves as the Chapter 7 Trustee. The Debtor is
represented by Gary A. Backus, Esq. of Backus Law Group.
R V K INC: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------
Debtor: R V K Inc.
Liquor Land
250 Route 59, Unit 116
Suffern, NY 10901
Business Description: R V K Inc., operates a retail liquor
store in Suffern, New York, trading as Liquor Land, offering beer,
wine, and spirits to consumers in Rockland County. The company
conducts its activities from a single site along Route 59, focusing
on in-store sales within the local alcoholic beverage retail
market.
Chapter 11 Petition Date: April 7, 2026
Court: United States Bankruptcy Court
Southern District of New York
Case No.: 26-22347
Judge: Hon. Sean H Lane
Debtor's Counsel: Ronald V. De Caprio, Esq.
LAW OFFICE OF RONALD V. DE CAPRIO
18 Laurel Road
New City, NY 10956
Tel: 845-354-3212
E-mail: rvd@decapriolaw.com
Estimated Assets: $0 to $50,000
Estimated Liabilities: $1 million to $10 million
The petition was signed by Rengith Vijayakumar as president.
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/BZNODWQ/R_V_K_Inc__nysbke-26-22347__0001.0.pdf?mcid=tGE4TAMA
RAPID RAPID: U.S. Trustee Unable to Appoint Committee
-----------------------------------------------------
The U.S. Trustee for Region 14 disclosed in a court filing that no
official committee of unsecured creditors has been appointed in the
Chapter 11 case of Rapid Rapid Test Laboratories, LLC.
About Rapid Rapid Test Laboratories
Rapid Rapid Test Laboratories, LLC sought relief under Chapter 11
of the U.S. Bankruptcy Code (Bankr. D. Ariz. Case No. 26-02210) on
March 10, 2026. In its petition, the Debtor reports estimated
assets between $500,001 and $1 million and estimated liabilities
between $1 million and $10 million.
Judge Paul Sala oversees the case.
The Debtor is represented by:
Richard Scott Williams, Esq.
Rumberger Kirk & Caldwell, PA
2001 Park Place North | Suite 1300
Birmingham, AL 35203
Phone: (205) 572-4926
Email: swilliams@rumberger.com
REEL TRIMS: Gets Interim OK to Use Cash Collateral
--------------------------------------------------
Reel Trims, LLC received interim approval from the U.S. Bankruptcy
Court for the Southern District of Florida, to use cash collateral.
The Debtor intends to use cash collateral in accordance with a
projected operating budget, allowing for up to a 10% variance per
expense category. It argued that such use is necessary given its
inability to access funds that may force the business to cease
operations and significantly diminish the value of its assets.
The Debtor identifies multiple creditors with potential secured
interests based on UCC financing statements, including lenders such
as the U.S. Small Business Administration and various funding
companies, though it notes uncertainty regarding the exact
alignment of certain filings with specific creditors and reserves
the right to challenge the validity, perfection, and value of those
liens at a later stage. Importantly, none of these creditors
currently control the Debtor's bank accounts, which the Debtor
wishes to access freely.
To address creditor concerns, the Debtor offers adequate protection
through the preservation of the business as a going concern and by
granting replacement liens on post-petition assets equivalent in
scope and priority to pre-petition liens. While the Debtor has not
yet presented evidence of an equity cushion, it reserves the right
to do so later.
A copy of the order is available at https://is.gd/0eGLGg from
PacerMonitor.com.
The next hearing is set for May 6.
About Reel Trims, LLC
Reel Trims, LLC sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. S.D. Fla. Case No. 26-14072-EPK) on March
31, 2026. In the petition signed by Ronald Turba, owner, the Debtor
disclosed up to $1 million in assets and up to $10 million in
liabilities.
Judge Erik P. Kimball oversees the case.
Steven E. Wallace, Esq., at Steven E. Wallace, PL, represents the
Debtor as legal counsel.
REGAL INVESTMENT: Seeks Approval to Tap RHM Law as General Counsel
------------------------------------------------------------------
Regal Investment Properties LLC seeks approval from the U.S.
Bankruptcy Court for the Central District of California to employ
RHM Law LLP as counsel.
The firm's services include:
(a) advise and assist regarding compliance with the
requirements of the United States Trustee;
(b) advise regarding matters of bankruptcy law;
(c) advise regarding cash collateral matters;
(d) conduct examinations of witnesses, claimants or adverse
parties and prepare and assist in the preparation of reports,
accounts and pleadings;
(e) advise concerning the requirements of the Bankruptcy Code
and applicable rules;
(f) assist with the negotiation, formulation, confirmation and
implementation of a Chapter 11 plan of reorganization;
(g) make any appearances in the Bankruptcy Court on behalf of
the Debtor; and
(h) take such other action and perform such other services as
the Debtor may require.
The Debtor's principal, Justin James Aguilera, paid the firm
$20,000 on behalf of the Debtor, on March 6, 2026.
Roksana Moradi-Brovia, Esq., a partner at RHM Law, disclosed in a
court filing that the firm is a "disinterested person" as the term
is defined in Section 101(14) of the Bankruptcy Code.
The firm can be reached through:
Roksana D. Moradi-Brovia, Esq.
RHM Law LLP
17609 Ventura Boulevard, Suite 314
Encino, CA 91316
Telephone: (818) 285-0100
Facsimile: (818) 855-7013
Email: roksana@RHMFirm.com
About Regal Investment Properties LLC
Regal Investment Properties LLC sought relief under Chapter 11 of
the U.S. Bankruptcy Code (Bankr. C.D. Cal. Case No. 26-10496) on
Mar. 10, 2026. In the petition signed by Justin James Aguilera,
president, the Debtor disclosed up to $10 million in both assets
and liabilities.
Judge Martin R. Barash oversees the case.
The Debtor is represented by Roksana D. Moradi-Brovia, Esq., at RHM
Law LLP.
ROBLEDO BROTHERS: Seeks Chapter 12 Bankruptcy in California
-----------------------------------------------------------
On April 3, 2026, Robledo Brothers LLC filed for Chapter 12
protection in the Northern District of California. According to
court filings, the debtor reports between $1 million and $10
million in liabilities owed to 1–49 creditors.
About Robledo Brothers LLC
Robledo Brothers LLC is a limited liability company.
Robledo Brothers LLC sought relief under Chapter 12 of the U.S.
Bankruptcy Code (Bankr. N.D. Cal. Case No. 26-10219) on April 3,
2026. In its petition, the debtor reports estimated assets of
$0–$100,000 and estimated liabilities of $1 million–$10
million.
ROSE RENTAL: Seeks to Sell Canton Property for $121K
----------------------------------------------------
Rose Rental Properties, LLC seeks approval from the U.S. Bankruptcy
Court for the Southern District of Mississippi, to sell Property,
free and clear of liens, claims, interests, and encumbrances.
The Debtor's Property that is up for sale is located at 801
Planters Point Dr, Canton, MS 39046, which includes the house and
land that is mortgaged by Citizens National Bank.
The Debtor employs Victoria Prowant as real estate broker.
The Debtor wishes to sell the property for $121,900.00 and that the
loan with Creditor should be paid from the proceeds after all
closing costs and provisions have been paid.
The Debtor shall pay the following closing costs and provisions:
a. Commission to Sellers agent in the amount of 2.5% of Gross Sales
Price
b. Commission to Buyers agent in the amount of 3% of Gross Sales
Price
c. Kitchen refrigerator will remain with property, at no additional
value or cost.
d. All taxes, rents, utilities, and other assessments and
appropriate Property Owners Fees to be prorated as of the date of
closing.
e. Up to $1,500.00 to be paid at closing.
The expected closing date is April 23, 2026.
The offer is subject to loan approval and to the extent the
purchase agreement contains a financing contingency, proof of
pre-approval or pre-qualification shall be provided to Creditor
within seven days of entry of an Order on the Motion, and a firm
loan commitment shall be provided within 30 days of entry of an
Order.
If the contract were to fail for any reason other than the Seller's
default, the $500.00
earnest money shall be forfeited to Creditor.
The property should be sold free and clear of all liens, claims,
interests, and encumbrances.
About Rose Rental Properties, LLC
Rose Rental Properties, LLC is a Mississippi-based real estate
rental business that operates from Jackson and is associated with
residential property activities.
The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. S.D. Miss. Case No. 25-03091) on December
4, 2025. In the petition signed by Jerrick W Rose, member-manager,
the Debtor disclosed up to $10 million in both assets and
liabilities.
Judge Jamie A. Wilson oversees the case.
Thomas C. Rollins, Jr., Esq., at THE ROLLINS LAW FIRM, PLLC,
represents the Debtor as legal counsel.
RUBY TUESDAY: SCOTUS Seeks Govt's Input on Benefits Dispute
-----------------------------------------------------------
Kellie Mejdrich of Law360 reports that on Monday, April 6, 2026,
the U.S. Supreme Court asked the federal government to weigh in on
a contentious retirement benefits dispute involving former managers
of Ruby Tuesday. The former executives allege they lost roughly $35
million in retirement assets that were liquidated during the
restaurant chain's bankruptcy.
The petitioners contend that Regions Bank mishandled the funds,
improperly treating plan assets during the restructuring process.
They have asked the Supreme Court to clarify how federal law
governs the protection of retirement benefits in the context of a
sponsor’s insolvency and bankruptcy, the report states.
By requesting the government's perspective, the court is seeking
broader input on the legal and policy issues at stake. The
Solicitor General's brief could prove influential in the justices'
decision on whether to grant review of the case, the report
relays.
About RTI Holding Company
RTI Holding Company, LLC and its affiliates develop, operate, and
franchise casual dining restaurants in the United States, Guam, and
five foreign countries under the Ruby Tuesday brand. The
company-owned and operated restaurants (i.e. non-franchise) are
concentrated primarily in the Southeast, Northeast, Mid-Atlantic
and Midwest regions of the United States.
On Oct. 7, 2020, RTI Holding Company and its affiliates sought
protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Del.
Lead Case No. 20-12456). At the time of the filing, the Debtors
disclosed assets of between $100 million and $500 million and
liabilities of the same range.
Judge John T. Dorsey oversees the cases.
Pachulski Stang Ziehl & Jones LLP and CR3 Partners LLC serve as the
Debtors' legal counsel and financial advisor respectively. Epiq
Corporate Restructuring LLC is the claims, noticing and
solicitation agent and administrative advisor.
On Oct. 26, 2020, the U.S. Trustee for the District of Delaware
appointed an official committee of unsecured creditors in the
chapter 11 cases. The committee tapped Kramer Levin Naftalis &
Frankel LLP and Cole Schotz P.C. as counsel and FTI Consulting,
Inc. as financial advisor.
SADDI LLC: Hires Spector Gadon Rosen Vinci as Special Counsel
-------------------------------------------------------------
Saddi, LLC seeks approval from the U.S. Bankruptcy Court for the
Eastern District of Pennsylvania to hire Spector Gadon Rosen Vinci
P.C. as special counsel.
The firm will render these services:
a. assist with the preparation and filing of an appeal of the
March 6, 2026 determination of USTIF;
b. give legal advice with respect to its rights pursuant to
USTIF and Pennsylvania Storage Tank and Spill Prevention Act, 35
P.S. Secs. 3021.101-6021.2104; and
c. prepare any necessary legal papers relating to the USTIF
claim and appeal.
The firm will be paid at these rates:
Neal Teoum, Esq. $550 per hour
Jeffrey Kaiser, Esq. $425 per hour
Paralegals $195 per hour
Spector Gadon is a "disinterested person" within the meaning of 11
U.S.C. Sec. 101(14), according to court filings.
The firm can be reached through:
Neal R. Teoum, Esq.
Spector Gadon Rosen Vinci P.C.
One Logan Square
130 North 18th Street, Suite 1800
Philadelphia, PA 19103
Email ntroum@sgrvlaw.com
Phone: (215) 241-8870
About Saddi, LLC
Saddi, LLC is a single-asset real estate company that owns one
income-producing property.
Saddi, LLC filed its voluntary petition for relief under Chapter 11
of the Bankruptcy Code (Bankr. E.D. Pa. Case No. 26-10034) on
January 5, 2026, listing $1 million to $10 million in both assets
and liabilities. The petition was signed by Vijay Bhardwaj as
managing member.
Judge Derek J Baker presides over the case.
Albert A. Ciardi, III, Esq. at CIARDI CIARDI & ASTIN represents the
Debtor as counsel.
SAKS GLOBAL: Seeks Court OK for $5MM Executive Bonuses
------------------------------------------------------
James Nani of Bloomberg Law reports that Saks Global Enterprises
LLC, the parent company of luxury retailers including Saks Fifth
Avenue, Neiman Marcus, and Bergdorf Goodman, is seeking court
approval to award as much as $5.2 million in bonuses to a group of
its top executives. The filing was made Wednesday in the U.S.
Bankruptcy Court for the Southern District of Texas.
The incentive plan would provide additional pay to eight executives
who achieve specific performance targets tied to the company's
restructuring goals. According to the company, the compensation is
designed to support the reorganization by rewarding performance
that directly contributes to the turnaround, the report states.
The bonus request arrives as Saks Global moves to complete its
Chapter 11 restructuring and emerge from bankruptcy later this
summer, buoyed by a $500 million financing deal that was secured to
bankroll the exit and ongoing business operations, according to
Bloomberg.
While management says the bonuses are key to retaining top
leadership during a critical phase, some creditors or stakeholders
may challenge the proposal, arguing that generous executive payouts
can be inappropriate in a bankruptcy context. The court will weigh
such objections before making a final determination, the report
states.
About Saks Global Enterprises LLC
Saks Global is the largest multi-brand luxury retailer in the
world, comprising Saks Fifth Avenue, Neiman Marcus, Bergdorf
Goodman, Saks OFF 5TH, Last Call and Horchow. Its retail portfolio
includes 70 full-line luxury locations, additional off-price
locations and five distinct e-commerce experiences. With talented
colleagues focused on delivering on our strategic vision, The Art
of You, Saks Global is redefining luxury shopping by offering each
customer a personalized experience that is unmistakably their own.
By leveraging the most comprehensive luxury customer data platform
in North America, cutting-edge technology, and strong partnerships
with the world's most esteemed brands, Saks Global is shaping the
future of luxury retail.
Saks Global Properties & Investments includes Saks Fifth Avenue and
Neiman Marcus flagship properties and represents nearly 13 million
square feet of prime U.S. real estate holdings and investments in
luxury markets.
On Jan. 13, 2026, and Jan. 14, 2026, Saks Global Enterprises, LLC
and 112 affiliated debtors filed voluntary petitions for relief
under Chapter 11 of the United States Bankruptcy Code (Bankr. S.D.
Texas Lead Case No. 26-90103). The jointly administered cases are
pending before the Honorable Alfredo R. Perez.
Willkie Farr & Gallagher LLP and Haynes and Boone, LLP are serving
as legal counsel, PJT Partners LP is serving as an investment
banker, Berkeley Research Group is serving as the financial
advisor, and C Street Advisory Group is serving as a strategic
communications advisor to the Company. Stretto is the claim agent.
Paul, Weiss, Rifkind, Wharton & Garrison LLP is serving as legal
counsel, Lazard Freres & Co, LLC is serving as investment banker,
FTI Consulting, Inc. is serving as financial advisor, and Kekst and
Company, Inc., is serving as a strategic communications advisor
toan ad hoc group of debt holders. Hilco Global Professional
Services, LLC, is the real property advisor to the Ad Hoc Group.
Bank of America, N.A., is the administrative agent and collateral
agent under the $1.5 billion asset-based revolving credit
facility.
U.S. Bank Trust Company, National Association, is the
administrative agent and collateral agent under the $2.56 billion
SGUS DIP Facility, a term loan facility with new money and roll-up
components. U.S. Bank is also the agent under the $1.75 billion
OpCo DIP Facility, a term loan facility to be used for refinancing
existing debt.
Barclays Bank, PLC serves as the fronting lender of the SGUS First
Out DIP Loans. It is advised by Dentons US LLP.
Otterbourg P.C., Morgan, Lewis & Bockius LLP, and Norton Rose
Fulbright US LLP serves as counsel to the ABL DIP Agent; M3
Advisory Partners, LP, is the financial advisor to the ABL DIP
Agent; and Great American serves as its inventory valuation
consultant.
Seward & Kissel LLP serves as counsel to the SGUS DIP Agent.
On January 27, 2026, the U.S. Trustee for Region 7 appointed an
official committee to represent unsecured creditors in the Debtors'
Chapter 11 cases.
SANOS LLC: Commences Chapter 11 Bankruptcy in California
--------------------------------------------------------
On March 31, 2026, Sanos LLC filed for Chapter 11 protection in the
U.S. Bankruptcy Court for the Central District of California.
According to court filings, the Debtor reports between $1 million
and $10 million in debt owed to between 1 and 49 creditors.
A meeting of creditors under Section 341(a) to be held on May 4,
2026 at 10:00 AM at UST-SA2, TELEPHONIC MEETING. CONFERENCE
LINE:1-888-330-1716, PARTICIPANT CODE:5453743.
About Sanos LLC
Sanos LLC is a business entity engaged in commercial operations,
potentially involving consumer goods, services, or distribution
activities.
Sanos LLC sought relief under Chapter 11 of the U.S. Bankruptcy
Code (Bankr. Case No. 26-12477) on March 31, 2026. In its petition,
the Debtor reports estimated assets of $1 million to $10 million
and estimated liabilities of $1 million to $10 million.
Honorable Bankruptcy Judge Mark D. Houle handles the case.
The Debtor is represented by Garrick A. Hollander, Esq. of Garrick
A. Hollander, LLP.
SANTIN AUTO: Trustee Hires Mark Kiehne Law as Special Counsel
-------------------------------------------------------------
Eric Terry, the trustee appointed in the Chapter 11 case of Santin
Auto and Truck Repair Center, LLC, seeks approval from the U.S.
Bankruptcy Court for the Western District of Texas to employ Mark
Kiehne Law, PLLC as special counsel.
The firm will advise the trustee with respect to efforts to obtain
control over operations, oversee the operations, and liquidate
assets of this Chapter 11 bankruptcy estate, in performing his due
diligence overseeing the operations of the estate, and other
matters that may arise during the administration of the estate.
Mark Kiehne, Esq., the primary attorney in this representation,
will be paid at his hourly rate of $200. If needed, paralegals and
administrative staffs will charge $20 to $100, plus reimbursement.
Mr. Kiehne disclosed in a court filing that the firm is a
"disinterested person" as the term is defined in Section 101(14) of
the Bankruptcy Code.
The firm can be reached through:
Mark W. Kiehne, Esq.
Mark Kiehne Law, PLLC
26550 White Eagle Dr.
San Antonio, TX 78260
Telephone: (210) 264-5845
About Santin Auto and Truck Repair Center LLC
Santin Auto and Truck Repair Center LLC provides comprehensive
repair and maintenance services for light, medium, and heavy-duty
vehicles, including cars, trucks, buses, RVs, and construction
equipment. Based in San Antonio, Texas, the company offers in-shop
and mobile 24/7 roadside services, specializing in diesel repair,
fleet maintenance, engine and transmission work, and heavy
equipment repair. Its team of ASE-certified technicians combines
over 65 years of experience with modern diagnostic and repair
technology to serve San Antonio and surrounding areas.
Santin Auto and Truck Repair Center LLC sought relief under Chapter
11 of the U.S. Bankruptcy Code (Bankr. W.D. Tex. Case No. 26-50372)
on February 13, 2026. In its petition, the Debtor reports estimated
assets and liabilities between $1 million and $10 million each.
Honorable Bankruptcy Judge Craig A. Gargotta oversees the case.
The Debtor is represented by Stephen W. Sather, Esq., at Barron &
Newburger, PC.
Eric Terry is appointed as trustee in this Chapter 11 case. The
trustee tapped Graves Dougherty Hearon & Moody, PC as bankruptcy
counsel and Mark Kiehne Law, PLLC as special counsel.
SCOTLAND DEVELOPMENT: Taps G. B. Baines & Associates as Accountant
------------------------------------------------------------------
Scotland Development Corporation seeks approval from the U.S.
Bankruptcy Court for the Middle District of North Carolina to
employ G. B. Baines & Associates as accountant.
The firm will assist the Debtor in the preparation of necessary tax
returns and provide accounting assistance to its other
professionals as and when requested.
The firm has agreed to represent the Debtor for compensation based
upon its customary hourly rates at the time such services are
rendered, plus reimbursement of actual and necessary expenses and
other charges incurred.
Gregory Baines, CPA, a member at G. B. Baines & Associates,
disclosed in a court filing that the firm is a "disinterested
person" as the term is defined in Section 101(14) of the Bankruptcy
Code.
The firm can be reached through:
Gregory B. Baines, CPA
G. B. Baines & Associates
213 E Cronly St. B.
Laurinburg, NC 28352
Telephone: (910) 276-2737
About Scotland Development Corporation
Scotland Development Corporation is a nonprofit organization based
in Laurinburg, North Carolina, that focuses on community and
economic development, including workforce and educational
initiatives, and holds various land assets in the area such as
campus tracts, equestrian facilities, and horseshoe tracts, with a
total valuation of approximately $5.5 million.
Scotland Development Corporation sought relief under Chapter 11 of
the Bankruptcy Code (Bankr. N.D. Cal. Case No. 26-80045) on Feb.
17, 2026, listing $5,569,302 in assets and $11,179,384 in
liabilities. Andrew G. Williamson, Jr., president, signed the
petition.
Judge Lena M. James oversees the case.
The Debtor tapped Northen Blue LLP as counsel and G. B. Baines &
Associates as accountant.
SEAHAWK BIDCO: Antares PCF Marks $1.8MM 1L Loan at 21% Off
----------------------------------------------------------
Antares Private Credit Fund has marked its $1,810,000 loan extended
to Seahawk Bidco, LLC to market at $1,424,000 or 79% of the
outstanding amount, according to Antares PCF's 10-K for the fiscal
year ended Dec. 31, 2025, filed with the U.S. Securities and
Exchange Commission.
Antares Private Credit Fund is a participant in a First Lien
Delayed Draw Term Loan extended to Seahawk Bidco, LLC. The 1L Loan
accrues interest at a rate of S + 4.75%, 8.40% per annum. The 1L
Loan matures on Dec. 19, 2031.
Antares Private Credit Fund is a business development company that
provides private credit and financing solutions to middle-market
borrowers.
The Fund is led by Vivek Mathew as Chief Executive Officer and
President and Thomas Sweeney as Chief Financial Officer and
Principal Accounting Officer.
The Fund can be reached at:
Vivek Mathew
Antares Private Credit Fund
320 South Canal Street, Suite 4200
Chicago, IL 60606
Telephone: (312) 638-4119
About Seahawk Bidco, LLC
Seahawk Bidco, LLC operates as a homebuilding company. The Company
serves customers in the United States.
SENIOR HOME HEALTH: Seeks Cash Collateral Access
------------------------------------------------
Senior Home Health Care, LLC received interim approval from the
U.S. Bankruptcy Court for the District of Minnesota to use cash
collateral.
The Debtor is a Medicare-certified skilled home health agency
founded in 2012, providing in-home medical services including
nursing, therapy, and other care. Its revenue primarily comes from
Medicare, supplemented by commercial and government payers such as
Blue Cross Blue Shield of Minnesota, HealthPartners, Medica, and
the U.S. Department of Veterans Affairs. The Debtor has faced
severe revenue disruptions due to the failure of major local
healthcare partners, reductions in reimbursement rates by Medicare
and the VA, and burdensome merchant cash advance loans.
Senior HHC's secured debt involves multiple lenders, including
Merchants Bank ($387,719 balance), Change Healthcare ($420,822),
PIRS Capital ($143,420), Bizfund.com ($451,464), Cedar Advance
($486,281), and NewCo Capital Group ($215,093). Many of these
agreements, although structured as receivable purchases, appear to
be disguised loans with security interests in accounts and personal
guarantees.
The Debtor holds approximately $431,049 in cash and accounts
receivable as of the petition date, with projected increases to
$230,000 by the end of the interim cash collateral period.
To protect secured creditors, Senior HHC offers adequate protection
in the form of replacement liens, monthly reporting of cash usage,
and maintaining insurance coverage.
The order is available at https://is.gd/xk4hWT from
PacerMonitor.com.
About Senior Home Health Care, LLC
Senior Home Health Care, LLC is a Medicare-certified skilled home
health agency.
The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Minn. Case No. 26-41044) on March 30,
2026. In the petition signed by Jeylani Hashi, president, the
Debtor disclosed up to $1 million in assets and up to $10 million
in liabilities.
Karl Johnson, Esq., at MJB Law Firm PLLC, represents the Debtor as
legal counsel.
SHAYN REALTY: Taps Goldberg Weprin Finkel Goldstein as Counsel
--------------------------------------------------------------
Shayn Realty, LLC and its affiliates seek approval from the U.S.
Bankruptcy Court for the Eastern District of New York to employ
Goldberg Weprin Finkel Goldstein LLP as counsel.
The firm will render these services:
(a) provide the Debtors with all necessary representation in
connection with these Chapter 11 cases and their responsibilities;
(b) represent the Debtors in all proceedings before the U.S.
Bankruptcy Court and the Office of the U.S. Trustee;
(c) review, prepare and file all necessary legal papers as
required in the Chapter 11 cases; and
(d) provide all other legal services required with respect to
achieving confirmation of a plan of reorganization.
The firm's billing rates for bankruptcy matters are $865 per hour
for partners and between $450 to $620 for associates.
The firm received a retainer payment of $10,000 from each Debtor.
Kevin Nash, Esq., a member at Goldberg Weprin Finkel Goldstein,
disclosed in a court filing that the firm is a "disinterested
person" as the term is defined in Section 101(14) of the Bankruptcy
Code.
The firm can be reached through:
Kevin J. Nash, Esq.
Goldberg Weprin Finkel Goldstein LLP
125 Park Avenue, 12th Floor
New York, NY 10017
Telephone: (212) 221-5700
About Shayn Realty LLC
Shayn Realty LLC is a single asset real estste company.
Shayn Realty LLC and its affiliates sought relief under Chapter 11
of the U.S. Bankruptcy Code (Bankr. E.D.N.Y. Case No. 26-40286) on
January 21, 2026. In its petition, Shayn Realty reports estimated
assets of $1 million to $10 million and estimated liabilities of $1
million to $10 million.
Honorable Bankruptcy Judge Jil Mazer-Marino handles the case.
The Debtors are represented by Kevin J. Nash, Esq., at Goldberg
Weprin Finkel Goldstein LLP.
SKILLSOFT FINANCE: Moody's Cuts CFR to 'B3', Outlook Negative
-------------------------------------------------------------
Moody's Ratings downgraded Skillsoft Finance II, Inc.'s (Skillsoft)
corporate family rating to a B3 from a B2, probability of default
rating to a B3-PD from a B2-PD, and rating on the company's backed
senior secured first lien term loan to a B3 from a B2. Skillsoft's
speculative grade liquidity rating (SGL) remains SGL-3. The rating
outlook remains negative.
The downgrade in CFR with a negative outlook reflect weaker than
expected progress on the company's turnaround strategy,
particularly as it relates to the Global Knowledge (GK) business,
which is now under strategic review. Although Moody's believes that
an exit of the GK business would not have a negative impact on
EBITDA and be cash flow accretive, the timing and execution of such
an action is uncertain, and Moody's believes the segment will
continue to be a drag on the company's operating performance until
it is exited. Furthermore, although the Talent Development
Solutions (TDS) business has seen some positive trends in the past
year, its current and near-term operating performance is
constrained by factors including: impact of DOGE, negative impact
of AI sentiment on the Codecademy business, macroeconomic
headwinds, competitive pressures, and the conflict in the Middle
East.
RATINGS RATIONALE
The B3 CFR reflects high leverage, with adjusted debt to cash
EBITDA of around 7.4x in the LTM period ended October 2025 when
adding back restructuring costs. Debt to EBITDA (with no cash
adjustments) is around 10x. Skillsoft benefits from its growing
base of fairly predictable revenues from contracts, the adoption of
Percipio, its proprietary content delivery platform, and a highly
diversified customer base consisting of enterprise and small to
medium sized business.
Skillsoft's credit profile also reflects the highly competitive,
fragmented nature of the corporate learning market, which has low
barriers to entry and a large selection of free content. The
profile also considers the execution risk associated with the
integration of acquisitions, as well as ongoing business turnaround
efforts after years of revenue declines primarily in the instructor
led training segment. The timing and execution of the GK strategic
review weighs on the credit profile.
The SGL-3 Speculative Grade Liquidity rating is supported by solid
cash balances estimated above $100 million at fiscal year ended
January 2026, but offset by constrained cash flow generation given
a variable interest expense structure and cash burn from the GK
business. The company's unrated $75 million accounts receivable
line has around $1 million outstanding and $45 million in
availability as of October 2025. The senior secured term loan
facility has an annual amortization of 1% and does not contain a
financial maintenance covenant. The senior secured term loan
matures in July 2028.
FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS
Skillsoft's ratings could be upgraded if the company maintains
organic revenue growth and leverage is sustained below 6x.
Skillsoft's ratings could be downgraded if performance
deteriorates, free cash flow is negative or cash balances are
materially reduced. Ratings could also face downward pressure if
debt maturities are not addressed in a timely manner or Moody's
views the capital structure as unsustainable.
Skillsoft Finance II, Inc. is the debt issuing subsidiary of
SkillSoft Corporation which provides cloud-based e-learning, in
person training, and learning management software solutions for
enterprises, government, and education customers through its
Skillsoft, Global Knowledge, and Codecademy businesses. The company
had around $516 million of revenues in the twelve month period
ended October 2025 (around $404 million of which is attributable to
the core TDS business). Skillsoft is headquartered in Nashua, New
Hampshire.
The principal methodology used in these ratings was Software
published in December 2025.
SLEEP NUMBER: Looks for Rescue Funding After Stock Drop
-------------------------------------------------------
Reshmi Basu of Bloomberg News reports that after an over‑80%
collapse in its stock price over the past two months, Sleep Number
Corp. is looking for rescue financing to stabilize its finances and
avert more severe outcomes, including bankruptcy, according to
people familiar with the company's plans. The sharp slump has
intensified scrutiny on the company’s cash position and debt
obligations.
Sleep Number's investment banker, Guggenheim Partners, is in talks
with prospective lenders and investors to assess appetite for fresh
capital. One of the proposals being considered is a $50 million
priming loan, which would be structured to take precedence over
existing debt in the company's capital stack, the report relays.
Such priming loans are commonly sought by distressed companies that
need additional liquidity to fund operations or restructure
existing debt. Because these loans are senior to earlier
obligations, they can be attractive to lenders willing to provide
short‑term support in exchange for enhanced security, according
to Bloomberg.
Securing a rescue loan could give Sleep Number the breathing room
it needs to work through its financial challenges and potentially
avoid bankruptcy proceedings. Nonetheless, the outcome will hinge
on investor interest and how quickly any financing can be
negotiated, the report states.
About Sleep Number Corp.
Sleep Number Corp. is a furniture company based in Minneapolis,
Minnesota.
SORRENTO THERAPEUTICS: Ex-CEO, Jackson Walker Hit w/ RICO Lawsuit
-----------------------------------------------------------------
Emlyn Cameron of Law360 reports that more than a dozen shareholders
of Sorrento Therapeutics Inc. have filed a lawsuit seeking over
$100 million in damages, alleging that Jackson Walker LLP and the
company's former CEO conspired to force the biotechnology firm into
an unnecessary bankruptcy in a forum that had no real connection to
the business. The complaint claims the filing was part of a scheme
that harmed investors.
According to the complaint, the law firm and ex‑CEO knowingly
orchestrated the Chapter 11 filing in a jurisdiction the plaintiffs
describe as "irrelevant," arguing that the bankruptcy served no
legitimate purpose and instead damaged shareholder value. The
investors assert that the defendants acted in bad faith and
breached their fiduciary duties.
The shareholders are seeking compensatory and punitive damages,
alleging that the alleged conspiracy cost them more than $100
million in investment losses. The suit underscores ongoing tensions
between Sorrento's leadership and its investor base over the
company's strategic and financial decisions, the report states.
About Sorrento Therapeutics
Sorrento Therapeutics, Inc. -- http://www.sorrentotherapeutics.com/
-- is a clinical and commercial stage biopharmaceutical company
developing new therapies to treat cancer, pain (non-opioid
treatments), autoimmune disease and COVID-19. Sorrento's
multimodal, multipronged approach to fighting cancer is made
possible by its extensive immuno-oncology platforms, including key
assets such as next-generation tyrosine kinase inhibitors "TKIs"),
fully human antibodies ("G-MAB(TM) library"), immuno-cellular
therapies ("DAR-T(TM)"), antibody-drug conjugates ("ADCs"), and
oncolytic virus ("Seprehvec(TM)"). Sorrento is also developing
potential antiviral therapies and vaccines against coronaviruses,
including STI-1558, COVISHIELD(TM) and COVIDROPS(TM), COVI-MSCTM;
and diagnostic test solutions, including COVIMARK(TM).
Sorrento Therapeutics, Inc., and Scintilla Pharmaceuticals, Inc.,
sought Chapter 11 protection (Bankr. S.D. Tex. Lead Case No.
23-90085) on Feb. 13, 2023. Sorrento disclosed assets in excess of
$1 billion and liabilities of about $235 million as of Feb. 10,
2023.
Judge David R. Jones originally oversaw the cases.
The Debtors tapped Latham & Watkins, LLP as bankruptcy counsel;
Jackson Walker, LLP as local counsel; Tran Singh, LLP as conflicts
counsel; and M3 Advisory Partners, LP as financial advisor. Mohsin
Y. Meghji, managing partner at M3, serves as the Debtors' chief
restructuring officer. Stretto Inc. is the claims, noticing and
solicitation agent.
Norton Rose Fulbright US, LLP and Milbank, LLP represent the
official committee of unsecured creditors appointed in the Debtors'
Chapter 11 cases.
On April 10, 2023, the U.S. Trustee for Region 7 appointed an
official committee to represent the Debtors' equity security
holders.
On April 10, 2023, the U.S. Trustee for Region 7 appointed an
official committee to represent the Debtors' equity security
holders. Glenn Agre Bergman & Fuentes, LLP and Greenberg Traurig,
LLP serve as the equity committee's bankruptcy counsel.
ST ATHENA: Antares PCF Marks $590,000 1L Loan at 87% Off
--------------------------------------------------------
Antares Private Credit Fund has marked its $590,000 loan extended
to St Athena Global LLC to market at $78,000 or 13% of the
outstanding amount, according to Antares PCF's 10-K for the fiscal
year ended Dec. 31, 2025, filed with the U.S. Securities and
Exchange Commission.
Antares Private Credit Fund is a participant in a First Lien
Revolver loan extended to St Athena Global LLC. The 1L Loan accrues
interest at a rate of S + 5.25%, 8.90% per annum. The 1L Loan
matures on June 26, 2029.
Antares Private Credit Fund is a business development company that
provides private credit and financing solutions to middle-market
borrowers.
The Fund is led by Vivek Mathew as Chief Executive Officer and
President and Thomas Sweeney as Chief Financial Officer and
Principal Accounting Officer.
The Fund can be reached at:
Vivek Mathew
Antares Private Credit Fund
320 South Canal Street, Suite 4200
Chicago, IL 60606
Telephone: (312) 638-4119
About St Athena Global LLC
St Athena Global LLC is a company incorporated on May 18, 2016,
operating within the consumer discretionary products sector,
specifically focusing on home and office products.
STRATTO LLC: Seeks to Hire Stephen L. Burton as Bankruptcy Counsel
------------------------------------------------------------------
Stratto, LLC seeks approval from the U.S. Bankruptcy Court for the
Central District of California to employ Law Office of Stephen L.
Burton as counsel.
The firm will render these services:
(a) prepare pleadings, applications and conduct examinations
incidental to administration;
(b) advise the Debtor with respect to its rights, powers,
duties and obligations in the administration of this case, the
management of its financial affairs and the management of its
income and property;
(c) advise and assist the Debtor with respect to compliance
with the requirements of the Office of the United States Trustee;
(d) advise the Debtor regarding matters of bankruptcy law;
(e) advise and represent the Debtor in connection with all
applications, motions or complaints for adequate protection,
sequestration, relief from stays, appointment of a trustee or
examiner and all other similar matters;
(f) develop the relationship of the status of the Debtor to
the claims of creditors in these proceedings;
(g) advise and assist the Debtor in the formulation and
presentation of a plan pursuant to Chapter 11 of the Bankruptcy
Code and concerning any and all matters relating thereto;
(h) represent the Debtor in any necessary adversary
proceedings;
(i) represent the Debtor in any non-bankruptcy proceedings for
the purpose of filing a notice of stay; and
(j) perform any and all other legal services incident and
necessary therein.
The firm will be paid at its regular hourly rate of $450 plus
reimbursement.
On or about January 23, 2026, the Debtor paid a prepetition
retainer in the amount of $8,000 of which $2,000 was earned
prepetition.
Stephen Burton, Esq., disclosed in a court filing that his firm is
a "disinterested person" as the term is defined in Section 101(14)
of the Bankruptcy Code.
The firm can be reached through:
Stephen L. Burton, Esq.
Law Office of Stephen L. Burton
16133 ventura Boulevard, 7th Floor
Encino, CA 91436
Telephone: (818) 501-5055
Facsimile: (818) 501-5055
About Stratto LLC
Stratto LLC filed Chapter 11 petition (Bankr. S.D. Cal. Case No.
26-00177) on Jan. 23, 2026, with between $1 million and $10 million
in both assets and liabilities.
Judge J. Barrett Marum oversees the case.
Stephen L. Burton, Esq., is the Debtor's legal counsel.
SUGAR PPC: Antares PCF Marks $6.7MM 1L Loan at 71% Off
------------------------------------------------------
Antares Private Credit Fund has marked its $6,789,000 loan extended
to Sugar PPC Buyer LLC to market at $1,996,000 or 29% of the
outstanding amount, according to Antares PCF's 10-K for the fiscal
year ended Dec. 31, 2025, filed with the U.S. Securities and
Exchange Commission on March 19, 2026.
Antares Private Credit Fund is a participant in a First Lien
Delayed Draw Term Loan extended to Sugar PPC Buyer LLC. The 1L Loan
accrues interest at a rate of S + 4.75%, 8.33% per annum. The 1L
Loan matures on Oct. 2, 2031.
Antares Private Credit Fund is a business development company that
provides private credit and financing solutions to middle-market
borrowers.
The Fund is led by Vivek Mathew as Chief Executive Officer and
President and Thomas Sweeney as Chief Financial Officer and
Principal Accounting Officer.
The Fund can be reached at:
Vivek Mathew
Antares Private Credit Fund
320 South Canal Street, Suite 4200
Chicago, IL 60606
Telephone: (312) 638-4119
About Sugar PPC Buyer LLC
Sugar PPC Buyer LLC is a private equity-sponsored acquisition
vehicle established to purchase and hold a portfolio company in the
consumer or industrial sector.
SUSHI ZUSHI: Hires Transworld Business Advisors as Business Broker
------------------------------------------------------------------
Sushi Zushi of Texas, LLC and its affiliates seek approval from the
U.S. Bankruptcy Court for the Western District of Texas to employ
Transworld Business Advisors of San Antonio North as business
broker.
The firm will sell all of the Debtor's business interest including
but not limited to the intellectual property and all aspects of the
Sushi Zushi business structure and operating.
The firm will receive a commission equal to 8 percent of the first
$2,000,000 of the Total Sales Price, and 12 percent of any portion
of the Total Sales Price in excess of $2,000,000, with a minimum
commission of $15,000.
As disclosed in the court filings, Transworld Business Advisors
does not have or represent any interest adverse to the Debtor or
its estate.
The firm can be reached through:
Walter Szuja
Transworld Business Advisors
2903 Running Fawn
San Antonio, TX 78261
Phone: (210) 245-6616
Mobile: (281) 685-8565
Email: wszuja@tworld.com
About Sushi Zushi of Texas, LLC
Suhi Zushi is a modern Japanese restaurant chain serving
traditional foods, plus classic & Latin-influenced sushi rolls.
Sushi Zushi of Texas, LLC, Sushi Zushi of Colonnade, LLC, Sushi
Zushi of Lincoln Heights LLC and Sushi Zushi of Stone Oak, LLC
concurrently filed voluntary petitions for relief under Chapter 11
of the Bankruptcy Code (Bankr. W.D. Tex. Lead Case No. 24-51147) on
July 24, 2024. At the time of filing, each Debtor estimated
$100,000 to $500,000 in assets and $1 million to $10 million in
liabilities. The petitions were signed by Jason Kemp as manager.
Judge Michael M Parker presides over the case.
Ronald Smeberg, Esq. at THE SMEBERG LAW FIRM represents the Debtors
as counsel.
TACOMA ARTS LIVE: Seeks Receivership to Stabilize Finances
----------------------------------------------------------
Margo Vansynghel of The Seattle Times reports that Tacoma Arts
Live, a long-established nonprofit arts presenter, has filed for
receivership in a move aimed at stabilizing its finances. The legal
process, often used as an alternative to bankruptcy, places the
organization under court supervision.
The nonprofit's board has formally stepped down, and leadership
authority has shifted to a court-appointed receiver, with the
interim CEO now operating under that oversight. This restructuring
reflects the severity of the organization's financial challenges,
according to report.
The filing follows an earlier announcement that Tacoma Arts Live
would shut down operations this summer and sell the Tacoma Armory,
its last remaining property. Officials previously cited
pandemic-related revenue declines and accumulated debt as key
factors behind the decision, the report relays.
Receivership offers the organization an opportunity to manage its
obligations while considering options such as dissolution,
restructuring, or asset sales. It also allows more control over the
disposition of its property during the transition, the report
states.
About Tacoma Arts Live
Tacoma Arts Live is a long-running nonprofit arts organization in
Tacoma, Washington, established in 1979 to promote performing arts
and cultural engagement. Operating from the Tacoma Armory, it has
played a central role in bringing national and international
performances to the region.
Facing financial strain from declining post-pandemic ticket sales,
Tacoma Arts Live is under receivership, with Shelly Crocker
overseeing operations after the board stepped down. The process
allows the nonprofit to manage debts, handle creditor claims, and
plan the sale of the Tacoma Armory while considering potential
restructuring or partial continuation of its programs.
TAYMAX GROUP: Antares PCF Marks $844,000 1L Loan at 79% Off
-----------------------------------------------------------
Antares Private Credit Fund has marked its $844,000 loan extended
to Taymax Group Acquisition, LLC to market at $181,000 or 21% of
the outstanding amount, according to Antares PCF's 10-K for the
fiscal year ended Dec. 31, 2025, filed with the U.S. Securities and
Exchange Commission.
Antares Private Credit Fund is a participant in a First Lien
Delayed Draw Term Loan extended to Taymax Group Acquisition, LLC.
The 1L Loan accrues interest at a rate of S + 4.75%, 8.52% per
annum. The 1L Loan matures on July 30, 2027.
Antares Private Credit Fund is a business development company that
provides private credit and financing solutions to middle-market
borrowers.
The Fund is led by Vivek Mathew as Chief Executive Officer and
President and Thomas Sweeney as Chief Financial Officer and
Principal Accounting Officer.
The Fund can be reached at:
Vivek Mathew
Antares Private Credit Fund
320 South Canal Street, Suite 4200
Chicago, IL 60606
Telephone: (312) 638-4119
About Taymax Group Acquisition, LLC
Taymax Group Acquisition, LLC is a fitness club franchise operator.
TOASTED BARREL: Section 341(a) Meeting of Creditors on April 29
---------------------------------------------------------------
On April 1, 2026, The Toasted Barrel LLC filed for Chapter 11
protection in the U.S. Bankruptcy Court for the District of Oregon.
According to court filings, the Debtor reports between $1 million
and $10 million in debt owed to between 1 and 49 creditors.
A meeting of creditors under Section 341(a) to be held on April 29,
2026 at 02:00 PM via 341 Meeting via Telephone (UST). Dial
888-330-1716, passcode 5189986
About The Toasted Barrel LLC
The Toasted Barrel LLC is a hospitality-focused company engaged in
food and beverage services, potentially including bar, restaurant,
or spirits-related operations.
The Toasted Barrel LLC sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. Case No. 26-60888) on April 1, 2026. In its
petition, the Debtor reports estimated assets of $1 million to $10
million and estimated liabilities of $1 million to $10 million.
Honorable Bankruptcy Judge Kathryn F. Evans handles the case.
The Debtor is represented by Keith Y. Boyd, Esq. of Keith Y. Boyd,
P.C.
TOYIN PROPERTIES: Voluntary Chapter 11 Case Summary
---------------------------------------------------
Debtor: Toyin Street Properties LLC
9134 Running Eagle Falls Drive
Tomball, TX 77375
Business Description: Toyin Street Properties LLC, based in
Tomball, Texas, owns a commercial industrial
property located at 11066 Highway 242 in
Conroe, Texas, which is used for automotive
service operations.
Chapter 11 Petition Date: April 7, 2026
Court: United States Bankruptcy Court
Southern District of Texas
Case No.: 26-32419
Debtor's Counsel: Aaron W. McCardell, Sr., Esq.
THE McCARDELL LAW FIRM, PLLC
440 Louisiana
Houston TX 77002
Tel: (713) 236-8736
E-mail: amccardell@mccardelllaw.com
Total Assets: $3,050,000
Total Liabilities: $2,430,900
Olatunde Ademola Soyinka signed the petition as co-owner.
The Debtor submitted the required list of its 20 largest unsecured
creditors, but provided no names.
A full-text copy of the petition is available for free on
PacerMonitor at:
https://www.pacermonitor.com/view/6FCZAMQ/Toyin_Street_Properties_LLC__txsbke-26-32419__0001.0.pdf?mcid=tGE4TAMA
TRICOLOR AUTO: Judge Rules Advocate Took Fees, Misled Borrowers
---------------------------------------------------------------
Angelica Serrano-Roman and Steven Church of Bloomberg News report
that a U.S. Bankruptcy Court judge said an advocate for immigrant
auto buyers affected by the collapse of subprime lender Tricolor
Holdings might be held in contempt for practicing law without
proper credentials. The remarks were made Wednesday, April 1, 2026,
by Judge Michelle V. Larson in the Bankruptcy Court for the
Southern District of Texas.
The advocate in question, Francisco Aguirre, has portrayed himself
as a jailhouse lawyer helping consumers lower their auto loan
balances. According to the court, Aguirre charged some customers
about $1,500 for what amounted to legal work despite not being
licensed to practice law, according to report.
Judge Larson previously dismissed several of Aguirre's motions,
submitted through his Arizona firm Beyond Attorneys, LLC, that
sought to invalidate Tricolor loans on behalf of borrowers. The
judge expressed concerns that those filings blurred the line
between advocacy and unauthorized legal practice, the report
relays.
“They were promised, if not legal services, then something akin
to legal services,” Larson wrote, noting that the nature of the
services created expectations of legal help. Her comments signal
that the court may take further action to address unlicensed
practice and protect consumers in the bankruptcy process, the
report states.
About Tricolor Auto Acceptance
Tricolor Auto Acceptance is an Irving, Texas-based subprime auto
lender.
Tricolor Auto Acceptance, together with its parent Tricolor Auto
Group and other affilites sought relief under Chapter 7 of the U.S.
Bankruptcy Code(Bankr. N.D. Tex. Case No. 25-33497) on September
10, 2025. In its petition, the Debtor reports estimated assets and
liabilities between $1 billion and $10 billion each.
The Debtor is represented by Thomas Robert Califano, Esq. at
Sidley
Austin LLP.
TRILON GROUP: Antares PCF Marks $1.9MM 1L Loan at 73% Off
---------------------------------------------------------
Antares Private Credit Fund has marked its $1,995,000 loan extended
to Trilon Group, LLC to market at $544,000 or 27% of the
outstanding amount, according to Antares PCF's 10-K for the fiscal
year ended Dec. 31, 2025, filed with the U.S. Securities and
Exchange Commission on March 19, 2026.
Antares Private Credit Fund is a participant in a First Lien
Delayed Draw Term Loan extended to Trilon Group, LLC. The 1L Loan
accrues interest at a rate of S + 4.75%, 8.40% per annum. The 1L
Loan matures on May 25, 2029.
Antares Private Credit Fund is a business development company that
provides private credit and financing solutions to middle-market
borrowers.
The Fund is led by Vivek Mathew as Chief Executive Officer and
President and Thomas Sweeney as Chief Financial Officer and
Principal Accounting Officer.
The Fund can be reached at:
Vivek Mathew
Antares Private Credit Fund
320 South Canal Street, Suite 4200
Chicago, IL 60606
Telephone: (312) 638-4119
About Trilon Group Holdings, LLC
Trilon Group Holdings, LLC operates as a holding company. The
Company, through its subsidiaries, provides infrastructure
consulting, engineering, designing, construction supervision, and
contract administration solutions.
TRUCK-LITE CO: Antares PCF Marks $1.8MM 1L Loan at 61% Off
----------------------------------------------------------
Antares Private Credit Fund has marked its $1,871,000 loan extended
to Truck-Lite Co., LLC to market at $736,000 or 39% of the
outstanding amount, according to Antares PCF's 10-K for the fiscal
year ended Dec. 31, 2025, filed with the U.S. Securities and
Exchange Commission.
Antares Private Credit Fund is a participant in a First Lien
Delayed Draw Term Loan extended to Truck-Lite Co., LLC. The 1L Loan
accrues interest at a rate of S + 4.75 %, 8.42 % per annum. The 1L
Loan matures on Feb. 13, 2032.
Antares Private Credit Fund is a business development company that
provides private credit and financing solutions to middle-market
borrowers.
The Fund is led by Vivek Mathew as Chief Executive Officer and
President and Thomas Sweeney as Chief Financial Officer and
Principal Accounting Officer.
The Fund can be reached at:
Vivek Mathew
Antares Private Credit Fund
320 South Canal Street, Suite 4200
Chicago, IL 60606
Telephone: (312) 638-4119
About Truck-Lite Co., LLC
Truck-Lite Co., LLC manufactures and distributes vehicle safety
lighting products. The Company provides LED lighting systems for
commercial trucks, buses, and trailer, as well as electric,
autonomous technology to the transportation and defense industries.
Truck-Lite Co. serves customers worldwide.
TURTLE LANE: Seeks to Hire Mark J. Lanza as Special Counsel
-----------------------------------------------------------
Turtle Lane LLC seeks approval from the U.S. Bankruptcy Court for
the District of Massachusetts to employ Mark Lanza, Esq., attorney
practicing in Concord, Mass., as special counsel.
The attorney will render these services:
(a) review the claims filed by the City of Newton;
(b) advise the Debtor with respect to the city's claims and
their merits;
(c) prepare and file appropriate pleadings with the Bankruptcy
Court to resolve the city claims; and
(d) prosecute any litigation related to the city's claims.
Mr. Lanza will be paid at its hourly rate of $275.
The attorney disclosed in a court filing that he is a
"disinterested person" as the term is defined in Section 101(14) of
the Bankruptcy Code.
The attorney can be reached at:
Mark J. Lanza, Esq.
9 Damonmill Sq., Ste. 4
Concord, MA 01742
About Turtle Lane LLC
Turtle Lane LLC focuses on real estate operations, primarily
offering property-related services.
Turtle Lane LLC sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Mass. Case No. 25-11733) on Aug. 21,
2025. In its petition, the Debtor listed assets between $10 million
and $50 million and estimated liabilities between $1 million and
$10 million.
Judge Christopher J. Panos oversees the case.
The Debtor is represented by Christopher M. Condon, Esq., at
Bowditch & Dewey, LLP.
TZADIK SIOUX: Seeks to Hire 605 Real Estate LLC as Broker
---------------------------------------------------------
Tzadik Sioux Falls Portfolio I, LLC and affiliates seek approval
from the U.S. Bankruptcy Court for the Southern District of Florida
to hire Brad Stearns and 605 Real Estate LLC as brokers.
The Debtors are seeking an extension of the Broker's employment
through June 30, 2026 so the Debtors may continue to use the Broker
to market and sell the Fannie Mae and MBI properties.
As disclosed in the court filings, Brad Stearns and 605 Real Estate
LLC do not hold or represent an interest adverse to the estate and
that are disinterested.
The firm can be reached through:
Brad Stearns
605 Real Estate LLC
3500 W 59th St
Sioux Falls, SD 57108
Phone: (605) 789-1492
Email: brad@605advantage.com
About Tzadik Sioux Falls Portfolio I LLC
Tzadik Sioux Falls Portfolio I, LLC possesses several multi-family
properties in Sioux Falls, SD.
The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. S.D. Fla. Case No. 25-13865) on April 9,
2025. In the petition signed by Adam Hendry, authorized
representative, the Debtor disclosed $65 million in assets and
$46.775 million in liabilities.
Judge Peter D. Russin oversees the case.
Morgan Edelboim, Esq., at Edelboim Lieberman, PLLC, is the Debtor's
legal counsel.
Fannie Mae, as secured lender, is represented by:
Alexis A. Leventhal, Esq.
Keith Aurzada, Esq.
Jay Krystinik, Esq.
Devan Dal Col, Esq.
Reed Smith, LLP
1001 Brickell Bay Drive, Suite 900
Miami, FL 33131
Phone: (786) 747-0247
Email: aleventhal@reedsmith.com
kaurzada@reedsmith.com
jkrystinik@reedsmith.com
ddalcol@reedsmith.com
Merchants Bank of Indiana, as secured lender, is represented by:
Scott N. Brown, Esq.
Bast Amron, LLP
One Southeast Third Avenue, Suite 2410
Miami, FL 33131
Phone: (305) 379-7904
Email: sbrown@bastamron.com
UNION DAY SCHOOL: S&P Rates 2026 Revenue and Refunding Bonds 'BB'
-----------------------------------------------------------------
S&P Global Ratings assigned its 'BB' rating to the Public Finance
Authority, Wis.' series 2026 revenue and refunding bonds issued for
Union Day School (UDS), N.C.
The outlook is stable.
S&P analyzed UDS' environmental, social, and governance factors and
consider them credit neutral.
The stable outlook reflects S&P's expectation that enrollment will
trend positively as projected and management will achieve a modest
operating surplus and sufficient MADS coverage, while expanding
unrestricted liquidity.
S&P could consider a negative rating action if the school fails to
achieve positive operating margins or should its liquidity decline
from current levels.
S&P could consider a positive rating action beyond the outlook
period if the school successfully executes its expansion such that
enrollment growth continues, supporting demand and financial ratios
with DCOH, operating margins, and MADS coverage normalizing at
levels comparable with those of higher-rated peers.
UNIVISION COMMUNICATIONS: S&P Rates New $1BB Sr. Secured Notes 'B'
------------------------------------------------------------------
S&P Global Ratings assigned its 'B' issue-level rating and '3'
recovery rating to Univision Communications Inc.'s proposed $1
billion senior secured notes due 2033. The '3' recovery rating
indicates its expectation for meaningful (50%-70%; rounded
estimate: 65%) recovery for lenders in the event of a payment
default. The company plans to use the proceeds from these notes to
repay a portion of its existing 8% senior secured notes due 2028
($1.4 billion outstanding).
S&P's 'B' issuer credit rating and stable outlook on Univision are
unchanged because the proposed transaction will not affect its net
leverage. The stable outlook reflects its expectation for S&P
Global Ratings-adjusted leverage in the low- to mid-6x range and
FOCF to debt of 2%-4% over the next 12-24 months.
VERA HOLDINGS: Committee Taps McDermott Will & Schulte as Counsel
-----------------------------------------------------------------
The official committee of unsecured creditors of Vera Holdings &
Investments, Inc., seeks approval from the U.S. Bankruptcy Court
for the Middle District of Florida to hire McDermott Will & Schulte
LLP as counsel.
The firm's services include:
(a) advising the Committee regarding its rights, powers, and
duties in the Chapter 11 Cases;
(b) assisting and advising the Committee in its consultations
and negotiations with the Debtors and other parties in interest in
connection with the administration of the Chapter 11 Cases;
(c) soliciting information from and providing information to
the Debtors' unsecured creditors as a group;
(d) assisting the Committee in analyzing the claims of the
Debtors' creditors and the Debtors' capital structure and
negotiating with holders of claims against and interests in the
Debtors;
(e) assisting the Committee in its investigation of the acts,
conduct, assets, liabilities, and financial condition of the
Debtors and their insiders and of the operation of the Debtors'
businesses;
(f) assisting the Committee in its analysis of, and
negotiations with, the Debtors and other parties in matters related
to, among other things, the assumption or rejection of executory
contracts and unexpired leases, the sale or other disposition of
property of the Debtors' estates, the financing of other
transactions, and the terms of one or more plans of reorganization
or liquidation of the Debtors and accompanying disclosure
statements and related plan documents;
(g) assisting and advising the Committee on its communications
with the Debtors' unsecured creditors as a group regarding
significant matters in the Chapter 11 Cases;
(h) intervening and monitoring the adversary proceedings
involving the Debtors and property of the Debtors' estates;
(i) representing the Committee at all hearings and other
proceedings before the Court;
(j) reviewing and analyzing applications, orders, statements
of operations, and schedules filed with the Court and advising the
Committee as to their propriety and, to the extent deemed
appropriate by the Committee, support, join, or object thereto;
(k) advising and assisting the Committee with respect to any
legislative, regulatory, or governmental activities;
(l) assisting the Committee in its review and analysis of the
Debtors' various agreements;
(m) preparing, on behalf of the Committee, any pleadings,
including, without limitation, motions, memoranda, complaints,
objections, or comments in connection with any matter related to
the Debtors or the Chapter 11 Cases;
(n) investigating and analyzing any claims belonging to the
Debtors' estates; and
(o) performing such other legal services as may be required or
are otherwise deemed to be in the interests of the Committee in
accordance with the Committee's rights, powers, and duties, as set
forth in the Bankruptcy Code, the Bankruptcy Rules, the Local
Rules, and other applicable law.
McDermott's current standard hourly rates are:
Partners $1,700 to $2,795
Associates $1,125 to $1,595
Non-Lawyer Professionals $325 to $1,465
The firm will also be reimbursed for reasonable out-of-pocket
expenses incurred.
Gregg Steinman, Esq., a partner at McDermott Will & Schulte LLP,
disclosed in a court filing that the firm is a "disinterested
person" as the term is defined in Section 101(14) of the Bankruptcy
Code.
The firm can be reached at:
Gregg Steinman, Esq.
MCDERMOTT WILL & SCHULTE LLP
One Vanderbilt Avenue
New York, New York 10017-3852
Telephone: (212) 547-5400
Facsimile: (212) 547-5444
Email: gsteinman@mcdermottlaw.com
About Vera Holdings & Investments Inc.
Vera Holdings & Investments, Inc. is a Florida-based holding
company managing investment assets across multiple sectors.
Vera filed its Chapter 11 petition under the U.S. Bankruptcy Code
(Bankr. Case No. 26-00763) on February 4, 2026. In its filing, the
Debtor disclosed estimated assets of $500 million to $1 billion and
estimated liabilities of $10 million to $50 million.
Honorable Bankruptcy Judge Grace E. Robson oversees the
proceedings.
The Debtor is represented by Frank M. Wolff, Esq. of Nardella &
Nardella, PLLC.
VERTEX SERVICE: Antares PCF Marks $250,000 1L Loan at 86% Off
-------------------------------------------------------------
Antares Private Credit Fund has marked its $250,000 loan extended
to Vertex Service Partners, LLC to market at $36,000 or 14% of the
outstanding amount, according to Antares PCF's 10-K for the fiscal
year ended Dec. 31, 2025, filed with the U.S. Securities and
Exchange Commission.
Antares Private Credit Fund is a participant in a First Lien
Delayed Draw Term Loan extended to Vertex Service Partners, LLC.
The 1L Loan accrues interest at a rate of S + 9.08 %, 8.90 % (Incl.
3.83 % PIK) per annum. The 1L Loan matures on Nov. 8, 2030.
Antares Private Credit Fund is a business development company that
provides private credit and financing solutions to middle-market
borrowers.
The Fund is led by Vivek Mathew as Chief Executive Officer and
President and Thomas Sweeney as Chief Financial Officer and
Principal Accounting Officer.
The Fund can be reached at:
Vivek Mathew
Antares Private Credit Fund
320 South Canal Street, Suite 4200
Chicago, IL 60606
Telephone: (312) 638-4119
About Vertex Service Partners, LLC
Vertex Service Partners, LLC empowers home service brands with
expert support in marketing, training, and operations across the
U.S.
VESSCO MIDCO: Antares PCF Marks $6.2MM 1L Loan at 68% Off
---------------------------------------------------------
Antares Private Credit Fund has marked its $6,293,000 loan extended
to Vessco Midco Holdings, LLC to market at $2,001,000 or 31.8% of
the outstanding amount, according to Antares PCF's 10-K for the
fiscal year ended Dec. 31, 2025, filed with the U.S. Securities and
Exchange Commission on March 19, 2026.
Antares Private Credit Fund is a participant in a First Lien
Delayed Draw Term Loan extended to Vessco Midco Holdings, LLC. The
1L Loan accrues interest at a rate of S + 4.50%, 8.15% per annum.
The 1L Loan matures on July 24, 2031.
Antares Private Credit Fund is a business development company that
provides private credit and financing solutions to middle-market
borrowers.
The Fund is led by Vivek Mathew as Chief Executive Officer and
President and Thomas Sweeney as Chief Financial Officer and
Principal Accounting Officer.
The Fund can be reached at:
Vivek Mathew
Antares Private Credit Fund
320 South Canal Street, Suite 4200
Chicago, IL 60606
Telephone: (312) 638-4119
About Vessco Midco Holdings, LLC
Vessco Midco Holdings, LLC operates as a holding company. The
Company, through its subsidiaries, wholesales and distributes
industrial machinery and equipment. Vessco Midco Holdings serves
customers in the State of Michigan.
VISIONARY PLANNING: Case Summary & Eight Unsecured Creditors
------------------------------------------------------------
Debtor: Visionary Planning, Inc.
3303 Halissee Street
Miami, FL 33133
Business Description: Visionary Planning, Inc. owns a residential
property located at 3303 Halissee Street in
Coconut Grove, Florida, with an estimated
value of $1.6 million.
Chapter 11 Petition Date: April 6, 2026
Court: United States Bankruptcy Court
Southern District of Florida
Case No.: 26-14272
Debtor's Counsel: Jesus Santiago, Esq.
DASA LAW
14100 Palmetto Frontage Road
Suite 370
Miami Lakes, FL 33016
Tel: (305) 898-7148
E-mail: jesus@dasa.law
Total Assets: $1,869,865
Total Liabilities: $2,460,400
The petition was signed by Sallie Rodriguez as president.
A full-text copy of the petition, which includes a list of the
Debtor's eight unsecured creditors, is available for free on
PacerMonitor at:
https://www.pacermonitor.com/view/NUOZLKQ/Visionary_Planning_Inc__flsbke-26-14272__0001.0.pdf?mcid=tGE4TAMA
VPP INTERMEDIATE: Antares PCF Marks $3.2MM 1L Loan at 61% Off
-------------------------------------------------------------
Antares Private Credit Fund has marked its $3,208,000 loan extended
to VPP Intermediate Holdings, LLC to market at $1,238,000 or 39% of
the outstanding amount, according to Antares PCF's 10-K for the
fiscal year ended Dec. 31, 2025, filed with the U.S. Securities and
Exchange Commission.
Antares Private Credit Fund is a participant in a First Lien
Delayed Draw Term Loan extended to VPP Intermediate Holdings, LLC.
The 1L Loan accrues interest at a rate of S + 5.25 %, 8.92 % per
annum. The 1L Loan matures on Dec. 1, 2027.
Antares Private Credit Fund is a business development company that
provides private credit and financing solutions to middle-market
borrowers.
The Fund is led by Vivek Mathew as Chief Executive Officer and
President and Thomas Sweeney as Chief Financial Officer and
Principal Accounting Officer.
The Fund can be reached at:
Vivek Mathew
Antares Private Credit Fund
320 South Canal Street, Suite 4200
Chicago, IL 60606
Telephone: (312) 638-4119
About VPP INTERMEDIATE HOLDINGS, LLC
VPP Intermediate Holdings, LLC provides veterinary services.
WASHINGTON INVESTMENTFIRST: Voluntary Chapter 11 Case Summary
-------------------------------------------------------------
Debtor: Washington InvestmentFirst LLC
195 US Highway 9, Suite 205
Manalapan NJ 07726
Business Description: Washington InvestmentFirst LLC is a single-
asset real estate company (as defined in 11
U.S.C. Section 101(51B)).
Chapter 11 Petition Date: April 7, 2026
Court: United States Bankruptcy Court
District of New Jersey
Case No.: 26-13845
Debtor's Counsel: David M. Banker, Esq.
LAW OFFICES OF DAVID M. BANKER, ESQ.
229 Boulder Ridge Rd.
Scarsdale NY 10583
Tel: 201-264-2591
E-mail: dbanker@davidbankerlaw.com
Estimated Assets: $1 million to $10 million
Estimated Liabilities: $1 million to $10 million
The petition was signed by Larry Wu as managing member.
The Debtor did not submit a list of its 20 largest unsecured
creditors along with the petition.
A full-text copy of the petition is available for free on
PacerMonitor at:
https://www.pacermonitor.com/view/XZGNXJY/Washington_InvestmentFirst_LLC__njbke-26-13845__0001.0.pdf?mcid=tGE4TAMA
WASHINGTON-MCLAUGLIN: Seeks to Hire Compass as Real Estate Broker
-----------------------------------------------------------------
The Washington-McLaughlin Christian School, Inc. seeks approval
from the U.S. Bankruptcy Court for the District of Maryland to
employ Compass, Inc., doing business as Compass, as its real estate
broker.
The firm's services include:
(a) market the Debtor's property located at 6501 Poplar
Avenue, Takoma Park, Md.;
(b) meet with prospective purchasers;
(c) draft contracts;
(d) provide advice on the value of the property; and
(e) any other service which may be reasonably necessary to
consummate a sale of property.
The firm will receive a commission of 3 percent of the sale price
of the property, and an additional flat fee of $495.
Sarah Hake, a real estate agent at Compass, disclosed in a court
filing that the firm is a "disinterested person" as the term is
defined in Section 101(14) of the Bankruptcy Code.
The firm can be reached through:
Sarah Hake
Compass, Inc.
110 5th Ave., 3rd Floor
New York, NY 10011
About The Washington-McLaughlin Christian School
The Washington-McLaughlin Christian School, Inc. is a
Maryland-based private Christian educational institution providing
faith-based academic instruction to students in its community.
The Washington-McLaughlin Christian School, Inc. sought relief
under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No.
26-11355) on February 9, 2026. In its petition, the Debtor reports
estimated assets of $0-$100,000 and estimated liabilities of $1
million-$10 million.
Judge Maria Ellena Chavez-Ruark handles the case.
The Debtor is represented by Augustus Curtis, Esq., at Offit
Kurman.
WEALTH ENHANCEMENT: Antares PCF Marks $12.1MM 1L Loan at 67% Off
----------------------------------------------------------------
Antares Private Credit Fund has marked its $12,103,000 loan
extended to Wealth Enhancement Group, LLC to market at $3,934,000
or 33% of the outstanding amount, according to Antares PCF's 10-K
for the fiscal year ended Dec. 31, 2025, filed with the U.S.
Securities and Exchange Commission on March 19, 2026.
Antares Private Credit Fund is a participant in a First Lien
Delayed Draw Term Loan extended to Wealth Enhancement Group, LLC.
The 1L Loan accrues interest at a rate of S + 4.50%, 8.15% per
annum. The 1L Loan matures on Oct. 2, 2028.
Antares Private Credit Fund is a business development company that
provides private credit and financing solutions to middle-market
borrowers.
The Fund is led by Vivek Mathew as Chief Executive Officer and
President and Thomas Sweeney as Chief Financial Officer and
Principal Accounting Officer.
The Fund can be reached at:
Vivek Mathew
Antares Private Credit Fund
320 South Canal Street, Suite 4200
Chicago, IL 60606
Telephone: (312) 638-4119
About Wealth Enhancement Group, LLC
Wealth Enhancement Group, LLC is an independent wealth management
firm offering financial planning, investment management and
advisory services to individuals and families.
WESTJET AIRLINES: Fitch Lowers LongTerm IDR to 'B-', Outlook Stable
-------------------------------------------------------------------
Fitch Ratings has downgraded WestJet and WestJet Airlines Ltd.'s
(together, WestJet) Long-Term Issuer Default Ratings (IDRs) to 'B-'
from 'B'. The Rating Outlook is Stable. Fitch downgraded WestJet's
senior secured debt and loyalty program debt issued by WestJet
Loyalty LP to 'B+' with a Recovery Rating of 'RR2' from
'BB-'/'RR2'.
The downgrade reflects expectations that jet fuel prices will
strain profitability keeping WestJet's credit metrics outside of
negative sensitivities through 2026. Leverage of 6.8x at YE 2025
exceeded Fitch's negative rating sensitivity. Fitch expects
leverage to rise before recovering in 2027 dependent on fuel
prices. Fitch also expects EBITDAR fixed-charge coverage to remain
weak at about 1x in 2026, partly due to lease obligations from
recent aircraft sale leasebacks.
The Stable Outlook reflects WestJet's still sizable liquidity, and
limited near-term demands on cash, as upcoming capex is expected to
be funded through sale-leasebacks. WestJet also benefits from its
strong position in the largely duopolistic Canadian market.
Key Rating Drivers
Rising Jet Fuel Prices: Jet fuel prices will strain WestJet's
profitability in 2026. Fitch expects the company to offset fuel
costs through fare increases amid strong demand. However, pressure
will grow if oil prices remain elevated. WestJet's ratings were
more vulnerable than peers' due to already-thin margins ahead of
the fuel shock. WestJet, impacted by one-time items, generated near
breakeven operating margins in 2025 versus about 9% for industry
leaders such as Delta Air Lines, Inc. (BBB-/Positive). Fitch
expects fuel prices and industry pricing/capacity to adjust over
time, supporting margin improvement. However, WestJet's metrics
will likely remain weak in the near term.
Negative rating pressure would increase if jet fuel prices remain
elevated through a macro downturn. Fuel represented 22% of
WestJet's total operating costs in 2025, making timely fare
pass-through important to preserving profitability. Fitch's base
case assumes robust demand in 2026, supporting a mid-to-high
single-digit improvement in unit revenues. If demand softens as
fares rise, WestJet would likely reduce capacity, increasing
non-fuel unit costs, and further compressing already thin margins.
Leverage to Remain High: WestJet's adjusted leverage was 6.8x at YE
2025, above its negative rating sensitivity. EBITDAR fixed-charge
coverage was weak at 0.9x. Prior to the spike in fuel prices, Fitch
anticipated WestJet's leverage and coverage would improve to the
mid-5x and mid-1x range, respectively, by YE 2026, which was in
line with Fitch's 'B' rating sensitivity. Higher fuel costs make
this scenario unlikely, delaying anticipated improvement in credit
metrics until at least 2027. Although not anticipated at this time,
further downgrades could be driven by continued margin pressure,
sustaining coverage at 1x or below, which will weaken WestJet's
financial flexibility.
Certain Transitory Issues Abate: The airline has moved past certain
transitory issues from 2025, which should partly offset rising fuel
costs. Temporary items included pilot training and aircraft
conversions tied to transitioning to a single air operator's
certificate following the Sunwing acquisition, and a material
operational disruption early in the year, which had a combined
margin impact of roughly 2.5pp. WestJet should benefit from further
Sunwing synergies and its revamped loyalty program structure. These
improvements help the company capture revenue opportunities and
enhance margins, but the benefit will depend on sustained demand in
a higher fuel price environment.
Transborder and Cuba Headwinds: Slow recovery in U.S. transborder
demand and cancelled flights to Cuba present near-term headwinds to
WestJet's margin recovery. U.S. transborder routes represented
roughly 19% of WestJet's network in 2025, while Cuba accounts for a
low-single-digit percentage of total flying. Overall demand for
travel in Canada remains strong, and Fitch expects much of the
weakness in certain markets to shift to other destinations.
Nonetheless, the lack of recovery in these two markets may
constrain profit margins in the near term until alternative routes
fully compensate for the reduced capacity.
Adequate Financial Flexibility: WestJet maintains adequate
financial flexibility, supporting the 'B' category rating. It ended
the year with CAD$1.6 billion of cash and equivalents and full
availability under its $510 million revolver. Near-term principal
payments are limited to amortization on the loyalty program term
loan, with the next major maturity in 2031. Unencumbered assets are
limited after monetizing owned aircraft via sale-leasebacks.
However, it can free up and use some revolver-secured collateral,
subject to the collateral coverage covenant. Aircraft deliveries
are expected to be financed through sale-leasebacks, limiting
near-term capex.
Solid Business Profile: WestJet is the number two airline in a
consolidated market. Air Canada, WestJet and Porter carry more than
80% of domestic Canadian traffic, with WestJet holding 30% of the
share. Fitch views WestJet as an effective competitor in the
Canadian market due to its strong presence in the western part of
the country and its unit cost advantage to Air Canada. WestJet
gained a larger presence in the vacation packages business through
its Sunwing purchase.
Peer Analysis
WestJet's 'B-' rating is four notches below that of its primary
domestic competitor, Air Canada (BB/Stable). This difference
reflects WestJet's higher near-term leverage prospects, more
limited financial flexibility, and smaller relative size. Fitch
expects Air Canada's gross leverage to trend to the mid-3x range
over the next two to three years, compared to the mid-5x to
upper-4x range for WestJet.
Additionally, WestJet's liquidity position is not as strong as Air
Canada's. Air Canada likely has better access to funds due to its
size and unencumbered assets. These factors are partially offset by
WestJet's favorable cost structure and its relative exposure to
business demand, which is taking longer to recover from the
pandemic.
Relative to U.S. airlines, WestJet's 'B-' rating is one notch
higher than JetBlue Airways Corporation (JetBlue; CCC+). Fitch
considers JetBlue's financial profile to be weaker than WestJet's,
as near-term leverage is elevated due to depressed profitability.
However, JetBlue compares favorably to WestJet in terms of size and
available unencumbered assets. Sizable liquidity balances are key
considerations for both carriers.
Fitch’s Key Rating-Case Assumptions
- Low-single-digit traffic growth in 2026 followed by low- to
mid-single digit growth thereafter;
- Operating margins remain pressured in 2026 largely due to higher
fuel prices. EBITDAR margins improve to the mid- to high-teens
thereafter;
- Sale-leaseback financing utilized to finance pending aircraft
deliveries;
- Jet fuel rising to CAD1.11/liter in its base case in 2026,
followed by a decline to the levels similar to those seen prior to
the Iran conflict.
Corporate Rating Tool Inputs and Scores
Fitch scored the issuer as follows, using its Corporate Rating Tool
(CRT) to produce the Standalone Credit Profile (SCP):
- Business and financial profile factors (assessment, relative
importance): Management (bb+, Lower), Sector Characteristics (bb-,
Moderate), Market and Competitive Positioning (bb+, Moderate),
Diversification and Asset Quality (bb, Moderate), Company
Operational Characteristics (bb, Moderate), Profitability (b-,
Moderate), Financial Structure (b-, Higher), and Financial
Flexibility (ccc+, Higher).
- The quantitative financial subfactors are based on custom CRT
financial period parameters: 20% weight for the historical year
2025, 20% for the forecast year 2026, 30% for the forecast year
2027 and 30% for the forecast year 2028.
- B+ to CC considerations apply in its analysis and result in no
adjustment.
- The Governance assessment of 'Good' results in no adjustment.
- The Operating Environment assessment of 'aa-' results in no
adjustment.
- The SCP is 'b-'.
Recovery Analysis
Key Recovery Rating Assumptions
The recovery analysis assumes that WestJet would be reorganized as
a going concern in bankruptcy rather than liquidated.
Fitch has assumed a 10% administrative claim.
Going-Concern (GC) Approach
Fitch has assumed a going-concern EBITDA of CAD475 million. The GC
EBITDA estimate reflects Fitch's view of a sustainable,
post-reorganization EBITDA level, upon which Fitch bases the
enterprise valuation.
Fitch's going-concern EBITDA estimate reflects a post-restructuring
scenario where margins are structurally impaired, potentially by a
weak operating environment, rising costs and competition, or a
combination thereof. The EV multiple is reflective of prior airline
bankruptcies. An EV multiple of 5.0x EBITDA is applied to the GC
EBITDA to calculate a post-reorganization enterprise value. The
choice of this multiple considers the historical bankruptcy case
study exit multiples for peer companies ranged from 3.1x to 6.8x.
These assumptions lead to an estimated recovery of 'B+'/'RR2' for
the senior secured debt.
RATING SENSITIVITIES
Factors that Could, Individually or Collectively, Lead to Negative
Rating Action/Downgrade
- EBITDAR fixed-charge coverage sustained near 1x or below;
- Heightened liquidity risks, including cash plus revolver
availability falling toward CAD800 million and/or decreasing
likelihood of ability to access contingent liability options.
Factors that Could, Individually or Collectively, Lead to Positive
Rating Action/Upgrade
- Total adjusted debt/EBITDAR sustained below 5x;
- EBITDAR fixed-charge coverage near 1.5x;
- EBIT margins sustained in the low- to mid-single digits or
higher.
Liquidity and Debt Structure
Fitch views WestJet's liquidity as supportive. The company has
CAD1.64 billion in cash and cash equivalents at YE 2025, and full
availability on its USD510 million revolver. Total liquidity,
including the revolver, was 31.5% of LTM revenue. WestJet's cash
balance tends to peak at year-end and decline through the third
quarter due to the booking nature of its vacations business. Total
liquidity to LTM revenue was a still healthy 24% at its 3Q25
trough.
Scheduled debt principal payments are limited, largely consisting
of the 2031 maturity of WestJet's loyalty term loan. Near-term
principal payments consist of manageable amounts due on aircraft
financings. Capital spending will step up over the forecast period,
but capex primarily consists of financeable aircraft. Fitch expects
WestJet to continue to pursue sale-leaseback financing on new
deliveries, which limits upfront capital spending.
Issuer Profile
WestJet Airlines, Ltd. is Canada's second-largest airline.
MACROECONOMIC ASSUMPTIONS AND SECTOR FORECASTS
Fitch's latest quarterly Global Corporates Sector Forecasts Monitor
data file which aggregates key data points used in its credit
analysis. Fitch's macroeconomic forecasts, commodity price
assumptions, default rate forecasts, sector key performance
indicators and sector-level forecasts are among the data items
included.
Climate Vulnerability Signals
The 2025 revenue-weighted Climate.VS for WestJet for 2035 is 50 out
of 100, suggesting moderate exposure to climate-related risks in
that year. This is in line with other airlines and reflects the
gradually growing costs linked to the decarbonization of the
sector, and potential for lower demand over time. Currently,
climate transition risks do not have a material influence on
airline ratings, as the potentially disruptive changes due to
energy transition are unlikely to materialize in the next eight to
10 years. The company has announced its goal of reaching net-zero
emissions by 2050.
Fleet replacement, the use of sustainable aviation fuels (SAF)
along with modern technology will play a key role in reducing
emissions. WestJet has an orderbook that includes more than 50 737
MAX aircrafts that feature lower fuel burn compared to prior
technology planes. WestJet has also begun purchasing SAF produced
by Shell plc (AA-/Stable) in Canada.
For further information on how Fitch perceives climate-related
risks in the Airlines sector, see Transportation - Long-Term
Climate Vulnerability Signals Update.
ESG Considerations
The highest level of ESG credit relevance is a score of '3', unless
otherwise disclosed in this section. A score of '3' means ESG
issues are credit-neutral or have only a minimal credit impact on
the entity, either due to their nature or the way in which they are
being managed by the entity. Fitch's ESG Relevance Scores are not
inputs in the rating process; they are an observation on the
relevance and materiality of ESG factors in the rating decision.
Entity/Debt Rating Recovery Prior
----------- ------ -------- -----
WestJet Loyalty LP
senior secured LT B+ Downgrade RR2 BB-
WestJet Airlines Ltd. LT IDR B- Downgrade B
senior secured LT B+ Downgrade RR2 BB-
WestJet LT IDR B- Downgrade B
senior secured LT B+ Downgrade RR2 BB-
WOHALI LAND: Appointment of Creditors Committee Sought
------------------------------------------------------
A group of lot owners is seeking the formation of an official
committee that will represent unsecured creditors in the Chapter 11
case of Wohali Land Estates, LLC.
In its motion, the group, which is composed of purchasers of lots
in the Wohali development, asked the U.S. Bankruptcy Court for the
District of Utah to direct the Office of the U.S. Trustee to
appoint its members to the committee.
The group said an official committee is necessary to prosecute the
bankruptcy estate's claims against EB5AN Wohali Utah Fund XV, LP, a
secured creditor and debtor-in-possession lender.
EB5AN has committed up to $6.3 million in DIP financing to help
Wohali get through bankruptcy. Wohali's Chapter 11 trustee obtained
final approval for the financing in February.
The move to appoint a committee follows a settlement agreement
between the bankruptcy trustee and EB5AN in March.
Under the deal, the trustee reportedly agreed to drop the
bankruptcy estate's claims against the lender in exchange for the
lender starting its credit bid at $65 million and capping such bid
at $89 million; capping its deficiency claim at $10 million; and
paying $1.8 million at closing in administrative expenses.
"The trustee's early agreement not to bring the estate EB5AN claims
is consistent with the trustee's early preference apparently formed
even before the trustee was appointed to simplify the case by
selling the assets of [Wohali] in a section 363 transaction at
which EB5AN would have a right to credit bid," the group's
attorney, David Billings, Esq., at Fabian Vancott, said.
Mr. Billings said the agreement does not resolve the group's
objection seeking the disallowance of EB5AN's claim entirely on
"evidentiary and equitable grounds."
"The creditor body needs a voice to represent it and concerned
Wohali owners have carried the boulder as far as they can up the
hill, only to watch EB5AN knock it down while the trustee stands by
idly," Mr. Billings said in a court filing.
Mr. Billings may be reached through:
Fabian Vancott
David P. Billings, Esq.
95 South State Street, Suite 2300
Salt Lake City, UT 84111
Telephone: (801) 531-8900
dbillings@fabianvancott.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.
Matt McKinlay, the Debtor's Chapter 11 trustee, tapped Foley &
Lardner, LLP as bankruptcy counsel; Cohne Kinghorn, P.C. as special
counsel; Ampleo Turnaround and Restructuring, LLC as financial
adviser; and Ampleo Turnaround and Restructuring, LLC as
professional consultant.
EB5AN Wohali Utah Fund XV, LP, as DIP lender, is represented by:
Michael R. Johnson, Esq.
Jeffrey W. Shields, Esq.
David H. Leigh, Esq.
Ray Quinney & Nebeker, P.C.
36 South State Street, 14th Floor
Salt Lake City, UT 84111
Telephone: (801) 532-1500
Facsimile: (801) 532-7543
mjohnson@rqn.com
jshields@rqn.com
dleigh@rqn.com
WORLD DEBT: Case Summary & 11 Unsecured Creditors
-------------------------------------------------
Debtor: World Debt Acquisitions LLC
3200 Windy Hill Road SE
Ste 1600W
Atlanta, GA 30339
Business Description: World Debt Acquisitions LLC, a single-asset
real estate company, holds and leases a
residential property at 2016 16th Avenue
East in Cordele, Georgia, 31015.
Chapter 11 Petition Date: April 7, 2026
Court: United States Bankruptcy Court
Northern District of Georgia
Case No.: 26-54646
Judge: Hon. Paul Baisier
Debtor's Counsel: Michael D Robl, Esq.
ROBL & BOWEN LLC
3754 LaVista Road
Suite 250
Tucker, GA 30084
Tel: 404-373-5153
Fax: 404-537-1761
E-mail: michael@roblgroup.com
Estimated Assets: $0 to $50,000
Estimated Liabilities: $1 million to $10 million
The petition was signed by Harry Patel as manager.
A full-text copy of the petition, which includes a list of the
Debtor's 11 unsecured creditors, is available for free on
PacerMonitor at:
https://www.pacermonitor.com/view/E32PJNI/World_Debt_Acquisitions_LLC__ganbke-26-54646__0001.0.pdf?mcid=tGE4TAMA
WST USA: Antares PCF Marks $585,000 1L Loan at 57% Off
------------------------------------------------------
Antares Private Credit Fund has marked its $585,000 loan extended
to WST USA Holdco, Inc. to market at $249,000 or 43% of the
outstanding amount, according to Antares PCF's 10-K for the fiscal
year ended Dec. 31, 2025, filed with the U.S. Securities and
Exchange Commission on March 19, 2026.
Antares Private Credit Fund is a participant in a First Lien
Delayed Draw Term Loan extended to WST USA Holdco, Inc. The 1L Loan
accrues interest at a rate of S + 4.75%, 8.50% per annum. The 1L
Loan matures on March 31, 2027.
Antares Private Credit Fund is a business development company that
provides private credit and financing solutions to middle-market
borrowers.
The Fund is led by Vivek Mathew as Chief Executive Officer and
President and Thomas Sweeney as Chief Financial Officer and
Principal Accounting Officer.
The Fund can be reached at:
Vivek Mathew
Antares Private Credit Fund
320 South Canal Street, Suite 4200
Chicago, IL 60606
Telephone: (312) 638-4119
About WST USA Holdco, Inc.
WST USA Holdco, Inc. is a privately held U.S. holding company that
manufactures hardware products.
WW INTERNATIONAL: Tara Comonte Resigns as CEO
---------------------------------------------
Max Zimmerman of Bloomberg News reports that WW International Inc.
said Chief Executive Officer Tara Comonte stepped down from her
role effective March 31, according to a company statement. The
leadership change comes as the company navigates a period of
transition.
In response, the company has established an Office of the CEO to
oversee day-to-day business operations during the interim period.
The structure is intended to ensure continuity while the board
searches for a permanent replacement. The Office of the CEO will be
led by Chief Financial Officer Felicia DellaFortuna and Chief
Operating Officer Jon Volkmann, who will jointly manage operations
and strategic execution. Both executives are expected to maintain
stability across the organization, the report states.
Meanwhile, the board has launched a formal search process and is in
discussions to appoint an interim CEO who will lead the executive
office. A transition committee has also been formed to oversee the
selection process and guide the company through the leadership
change, according to Bloomberg.
About WW International Inc.
WW International, Inc. provides weight control programs. It offers
subscriptions for commitment plans that give their clients access
to meetings and online subscriptions and give their members
guidance and access to a supportive community to help enable them
for healthy habits.
WW International filed Chapter 11 petition (Bankr. D. Del. Case No.
25-10829) on May 6, 2025. In the petition signed by Felicia
DellaFortuna, chief financial officer, the Debtor disclosed between
$1 billion and $10 billion in both assets and liabilities.
Judge Craig T. Goldblatt oversees the case.
The Debtor is represented by Christin Cho, Esq. and Simon Franzini,
Esq., at Dovel & Luner, LLP.
* * *
This concludes the Troubled Company Reporter's coverage of WW
International, Inc. until facts and circumstances, if any, emerge
that demonstrate financial or operational strain or difficulty at a
level sufficient to warrant renewed coverage.
YLG HOLDINGS: Antares PCF Marks $1.3MM 1L Loan at 41% Off
---------------------------------------------------------
Antares Private Credit Fund has marked its $1,373,000 loan extended
to YLG Holdings, Inc. to market at $806,000 or 59% of the
outstanding amount, according to Antares PCF's 10-K for the fiscal
year ended Dec. 31, 2025, filed with the U.S. Securities and
Exchange Commission on March 19, 2026.
Antares Private Credit Fund is a participant in a First Lien
Delayed Draw Term Loan extended to YLG Holdings, Inc. The 1L Loan
accrues interest at a rate of S + 4.75%, 8.40% per annum. The 1L
Loan matures on Dec. 23, 2030.
Antares Private Credit Fund is a business development company that
provides private credit and financing solutions to middle-market
borrowers.
The Fund is led by Vivek Mathew as Chief Executive Officer and
President and Thomas Sweeney as Chief Financial Officer and
Principal Accounting Officer.
The Fund can be reached at:
Vivek Mathew
Antares Private Credit Fund
320 South Canal Street, Suite 4200
Chicago, IL 60606
Telephone: (312) 638-4119
About YLG Holdings, Inc.
YLG Holdings, Inc. operates as a holding company. The Company,
through its subsidiaries, provides landscape design and land use
management services.
ZD SAND: Case Summary & Seven Unsecured Creditors
-------------------------------------------------
Debtor: ZD Sand LLC
7575 Highway 71
Voca TX 76887
Business Description: ZD Sand LLC, doing business as ZD
Sand & Rock LLC, provides sand, rock, and aggregate materials from
its headquarters in Voca, Texas, including concrete and masonry
sand, boulders, topsoil, and various gravels and palleted rocks.
The company serves contractors, suppliers, and regional buyers,
offering delivery services to support construction and landscaping
projects.
Chapter 11 Petition Date: April 6, 2026
Court: United States Bankruptcy Court
Southern District of Texas
Case No.: 26-32398
Judge: Hon. Jeffrey P Norman
Debtor's Counsel: Erin Jones, Esq.
JONES MURRAY, LLP
602 Sawyer St.
Houston TX 77007
Tel: (832) 529-1999
E-mail: erin@jonesmurray.com
Estimated Assets: $50 million to $100 million
Estimated Liabilities: $1 million to $10 million
The petition was signed by Thomas A. Dickinson as manager and
representative of the Debtor.
A full-text copy of the petition is available for free on
PacerMonitor at:
https://www.pacermonitor.com/view/AQW2ZVA/ZD_Sand_LLC__txsbke-26-32398__0001.0.pdf?mcid=tGE4TAMA
List of Debtor's Seven Unsecured Creditors:
Entity Nature of Claim Claim Amount
1. Dickinson & Wheelock PC Legal Services $1,150,000
1001 S. Dairy Ashford Rd.
Houston, TX 77077-2375
2. Aggregate Haulers of Texas Vendor $264,000
4772 FM 482
New Braunfels, TX 78132
3. Romco Equipment Rent to $125,000
1150 W. Old Settlers Blvd Purchase
Round Rock, TX 78681-2100
4. Central Power Systems Short-Term $57,975
50 Iron Horse Dr. Rental
Hutto, TX 78634
5. Texas Bearing Co. Vendor/Supplier $8,892
412 South Jackson St.
Amarillo, TX 79101
6. Temperton Transport LLC Trucking Vendor $6,949
608 Northwest Dr.
Fredericksburg, TX 78624-5919
7. Amigo Energy Utilities $5,966
PO Box 3607
Houston, TX 77253-3607
ZEEP INC: Bankruptcy Administrator Unable to Appoint Committee
--------------------------------------------------------------
The U.S. Bankruptcy Administrator for the Southern District of
Alabama disclosed in a court filing that no official committee of
unsecured creditors has been appointed in the Chapter 11 case of
Zeep Incorporated.
About Zeep Incorporated
Zeep Incorporated is a privately held energy company based in
Austin, Texas, developing large-scale projects that produce premium
fuels and chemicals.
Zeep filed its voluntary petition for relief under Chapter 11 of
the Bankruptcy Code (Bankr. S.D. Ala. Case No. 26-10669) on March
10, 2026, listing $10 million to $50 million in assets and $1
million to $10 million in liabilities. The petition was signed by
Ronald Oligney, president and managing director.
Judge Henry A Callaway handles the case.
Richard Gaal, Esq., at Jones Walker, LLP serves as the Debtor's
counsel.
ZONE CLIMATE: Antares PCF Marks $636,000 1L Loan at 49% Off
-----------------------------------------------------------
Antares Private Credit Fund has marked its $636,000 loan extended
to Zone Climate Services, Inc. to market at $323,000 or 51% of the
outstanding amount, according to Antares PCF's 10-K for the fiscal
year ended Dec. 31, 2025, filed with the U.S. Securities and
Exchange Commission on March 19, 2026.
Antares Private Credit Fund is a participant in a First Lien
Revolver loan extended to Zone Climate Services, Inc. The 1L Loan
accrues interest at a rate of S + 5.75%, 9.55% per annum. The 1L
Loan matures on March 9, 2028.
Antares Private Credit Fund is a business development company that
provides private credit and financing solutions to middle-market
borrowers.
The Fund is led by Vivek Mathew as Chief Executive Officer and
President and Thomas Sweeney as Chief Financial Officer and
Principal Accounting Officer.
The Fund can be reached at:
Vivek Mathew
Antares Private Credit Fund
320 South Canal Street, Suite 4200
Chicago, IL 60606
Telephone: (312) 638-4119
About Zone Climate Services, Inc.
Zone Climate Services, Inc. manufactures personal care products.
The Company serves customers in the United States.
[] 2026 Q1 Bankruptcies Rise 14% Amid Growing Debt Pressure
-----------------------------------------------------------
Emily Lever of Law360 Bankruptcy Authority reports that bankruptcy
filings rose 14% in the first quarter of 2026 compared to the same
period a year earlier, with increases in both commercial and
consumer cases highlighting the effects of ongoing economic
challenges, a recent report shows.
Business bankruptcies have been fueled by rising interest rates and
mounting operational costs, which have strained liquidity and
limited refinancing options. At the same time, consumer filings
have climbed as households contend with higher living expenses and
increased reliance on credit.
The data reflects a broader tightening of financial conditions,
with lenders becoming more cautious and borrowing costs remaining
elevated. These factors have combined to push a growing number of
debtors into bankruptcy courts for relief.
According to the report, restructuring cases under Chapter 11
remain a key component of the rise, particularly among mid-sized
companies. Meanwhile, liquidation filings under Chapter 7 continue
to increase as some businesses and individuals are unable to
sustain operations or repayment plans.
Observers caution that filings could continue trending upward if
macroeconomic conditions fail to improve. The report highlights
persistent financial pressures affecting both businesses and
consumers across the economy.
[] Squire Patton Boggs Launches Sovereign Advisory Group
--------------------------------------------------------
Global law firm Squire Patton Boggs announced the launch of its
Sovereign Advisory Group expanding the firm's longstanding
representation of sovereign governments with an integrated
financial, economic, legal and public policy advisory offering.
The new offering is anchored by the addition of Jill Dauchy,
founder and CEO of Potomac Group, a boutique sovereign debt
advisory firm in Washington DC. She joins as Senior Advisor,
bringing over 25 years of experience advising governments on debt
sustainability and restructuring, economic policy and strategies
for stimulating growth.
With the International Monetary Fund estimating that global
sovereign debt will exceed 100% of global GDP by 2029, the SPB
Sovereign Advisory Group responds to intensifying global debt
pressures and growing demand from governments for sophisticated,
multidisciplinary advice that goes beyond traditional legal
services.
Public Policy co-chair Robert Kapla said, "Governments today are
navigating an unprecedented convergence of fiscal stress,
geopolitical pressure and policy disruption. Sovereign clients
increasingly need advisors who understand not only the law, but
also the financial, economic and political realities shaping their
decisions. The launch of our Sovereign Advisory Group reflects our
commitment to meeting those needs with an integrated offering that
fills a gap in the market."
Squire Patton Boggs has advised more than 100 sovereign
governments, sovereign wealth funds and state-owned enterprises.
By combining the firm's deep legal, policy and dispute resolution
capabilities with Ms. Dauchy's experience advising governments on
sovereign debt management and financial resilience, the firm is
uniquely positioned to engage earlier and more comprehensively with
governments facing complex fiscal, financing and geopolitical
challenges.
Stephen Lerner, global chair of the firm's Restructuring &
Insolvency Practice Group commented, "The drivers of the sovereign
debt crisis are interconnected, and fragmented advice is no longer
sufficient. By integrating financial and economic advisory
expertise with our market-leading restructuring, disputes and
transactional capabilities, we can support governments in
developing durable, credible solutions that restore sustainability,
preserve market access and protect long-term development
objectives."
Ms. Dauchy commented, "Sovereigns are fundamentally different from
corporate clients, and they require advice that reflects the full
complexity of the public sector. Squire Patton Boggs brings
unmatched legal, policy and global reach, while Potomac Group
contributes deep experience in sovereign finance and economic
strategy. Together, we can deliver truly integrated solutions that
help governments confront today's debt and development challenges
with confidence."
Ms. Dauchy is widely recognized as a leading independent advisor to
sovereign governments, having advised more than 20 countries across
emerging, frontier and developed markets, as well as multilateral
institutions, central banks and national investment authorities.
Through Potomac Group, she has supported governments in managing
complex balance sheets, negotiating with creditors and partners,
and designing innovative financing strategies to support growth and
resilience.
Ms. Dauchy will continue in her capacity as CEO of Potomac Group
and work closely with lawyers and advisors across Squire Patton
Boggs' global platform to develop and grow the Sovereign Advisory
Group, engage jointly with clients, and strengthen the firm's
credentials in sovereign finance and economic advisory mandates.
[] Stretto Introduces AI-Powered Bankruptcy Research Platform
-------------------------------------------------------------
Stretto, a market-leading legal services and technology firm,
introduced Research Suite by Stretto, the first and only
AI-enhanced research platform designed and built by restructuring
professionals for the bankruptcy industry. As the next evolution of
the precedent research platform Chapter 11 Dockets, Research Suite
builds on the technology and elevates the user experience with
AI-powered capabilities. Research Suite enables comparison of
multiple documents across any jurisdiction to generate insight-rich
summaries, allowing professionals to understand information faster.
To further elevate the platform's capabilities, it provides AI
Dossier, a comprehensive comparison and analysis of multiple
documents, transforming research into strategy by extracting
meaning, identifying patterns, and applying those insights to case
work, drafting, and analysis.
"Imagine identifying multiple asset sale motions across various
jurisdictions, in seconds, via a single search. Then, within
minutes, generating a report comparing critical terms, identifying
key variances, complete with citations to the relevant documents,"
states Robert Klamser, chief innovation officer at Stretto.
"Research Suite goes beyond document search to deliver insights and
direct professionals to the content that matters, without
sacrificing the depth and accuracy that our clients have come to
expect in Stretto's robust technology tools. Stretto designed every
feature with the needs of restructuring professionals and legal
researchers in mind so they can spend less time compiling
information and spend more time focused on strategic case
management."
"As a former restructuring attorney at Skadden, I purposefully
designed this platform to deliver the depth, security, and
intelligent data that restructuring professionals demand, with a
modern interface, proprietary tagging, and generative AI built
specifically for bankruptcy law," says Chapter 11 Dockets' founder
and Stretto managing director Randall Reese.
Every insight in Research Suite links back to a specific case or
docket so that professionals can validate findings and trace
sources with confidence. Attorneys in over 70% of the nation's
largest and most complex Chapter 11 cases have relied on the tools
inside Research Suite for almost two decades.
Every Research Suite account includes access to Stretto SecureAI, a
legal chat interface for professionals to securely use popular AI
models such as ChatGPT, Claude and Grok, without exposing sensitive
data. SecureAI allows users to access AI for research and drafting
while keeping sensitive firm and client data protected across all
LLMs without any additional configuration needed. The chat
interface also enables users to utilize generative AI with zero
data retention by anyone, including Stretto, and no training on the
data.
Research Suite represents the latest offering from Stretto
Intelligence, Stretto's innovation engine powering AI-enhanced
capabilities across its various tools, research, and workflows.
Looking ahead, Stretto plans to expand its suite of AI-powered
innovations with a continued focus on elevating the efficiency of
case management.
About Stretto
Stretto -- http://www.stretto.com-- delivers a full spectrum of
case management and claims administration services, depository and
distribution solutions, and technology tools to legal and financial
professionals. With a comprehensive suite of tailored offerings,
Stretto provides an unparalleled portfolio designed to meet our
clients' unique financial and business objectives.
About Stretto Intelligence
As Stretto's innovation engine, Stretto Intelligence applies AI
where it delivers the greatest value across the complex,
high-stakes workflows of legal and financial professionals with
AI-fueled tools, research, and insights. Every innovation in the
Stretto Intelligence portfolio meets the highest standards of
security, confidentiality, and control. It embodies Stretto's
commitment to staying ahead -- deploying emerging technologies with
precision to drive meaningful, measurable impact.
*********
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