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260430.mbx T R O U B L E D C O M P A N Y R E P O R T E R Thursday, April 30, 2026, Vol. 30, No. 120 Headlines 24 HENRY: Seeks Chapter 7 Bankruptcy in New York 410 SOUTH: Seeks Court Approval to Hire Tucker Ellis as Counsel 458 BRIDGEHAMPTON: Seeks Subchapter V Bankruptcy in New York 505 SR: Seeks Chapter 11 Bankruptcy in New York 520 MADISON: Paul Levine Named Subchapter V Trustee 923 KENNEDY STREET: Commences Chapter 11 Bankruptcy in D.C. ACCENT COMFORT: Gets Final OK to Use Cash Collateral ADC AND T: To Sell Vehicle to Palomino Motors for $140K AI ERA CORP: Taps Craft Capital for NYSE American Direct Listing AIP RD BUYER: Moody's Affirms 'B2' CFR, Alters Outlook to Negative AITX: Sets $1.7MM Monthly Recurring Revenue Target for FY2027 ALLEN MEDIA: Moody's Alters Outlook on 'Caa1' CFR to Stable ALVOGEN PHARMA: S&P Alters Outlook to Pos., Affirms 'CCC+' ICR AMERICA'S REALTY: Seeks Chapter 7 Bankruptcy in California ANTELOPE HOSPITALITY: Gets OK to Use First Utah's Cash Collateral AON STUDIOS: Robert Gainer Named Subchapter V Trustee ARTISTIC HOLIDAY: Gets Extension to Access Cash Collateral ARTSTOCK: Hires Tiger Valuation Services as Inventory Appraiser ATW HEALTH: Ira Bodenstein Named Subchapter V Trustee BIG STORM: To Sell Liquor License to Henderson Group for $230K BIO-KEY INTERNATIONAL: Swings to Positive Income in 1H'26 Outlook BRIDGE TO ADULTHOOD: Seeks to Extend Plan Exclusivity to July 21 BROOKDALE SENIOR: Jordan Asher Will Not Seek Re-Election to Board CARIOLA GROUP: Tarek Kiem of Kiem Law Named Subchapter V Trustee CELSIUS NETWORK: Admin Sought Mediation in Former Exec's Case CHARLES & COLVARD: Agrees to $1.5MM Asset Sale to Van Lang Jewelry CHERRY HILL: New Jersey Office Complex Up for Sale CREEKSIDE REAL: Seeks Chapter 11 Bankruptcy in Pennsylvania CUMULUS MEDIA: Court Confirms Joint Prepack Chapter 11 Plan D.A.R. CARRIER: Neema Varghese Named Subchapter V Trustee DANLERIE FREIGHT: Case Summary & 20 Largest Unsecured Creditors DANLERIE FREIGHT: Commences Chapter 11 Bankruptcy in California DIAMOND6 PRODUCTION: Voluntary Chapter 11 Case Summary DOVETAIL DEVELOPMENT: Case Summary & Three Unsecured Creditors DOVETAIL DEVELOPMENT: Frederic Schwieg Named Subchapter V Trustee EDEN HOME: Section 341(a) Meeting of Creditors on June 1 ELECTRONIC SYSTEM: Joseph Cotterman Named Subchapter V Trustee ELETSON HOLDINGS: Reed Smith Named in Gas Ownership Fight ENVERIC BIOSCIENCES: Closes Up To $13.9 Million Private Placement EVERY BLOOMING: Kevin Neiman Named Subchapter V Trustee EZRA MITCHELL: Starts Chapter 7 Bankruptcy in New York FAT BRANDS: Court Sets May 15, 2026 Claims Bar Date FAT BRANDS: Selects FBG Bid Co. as Highest Bid for Restaurant Sale FLOAT ALASKA: Claims to be Paid from Asset Sale Proceeds FOUR SEASONS: James LaMontagne Named Subchapter V Trustee FREEDOM FOREVER: To Appoint Kroll as Claims and Noticing Agent FREIGHT SHERPAS: Matthew Brash Named Subchapter V Trustee FRESHREALM INC: Case Summary & 30 Largest Unsecured Creditors GENERIC MANUFACTURING: Robert Goe Named Subchapter V Trustee GLOBAL WOUND: Gets Court Okay to Dispose Patient Records GOOD VIBRATIONS INK: Gets Interim OK to Use Cash Collateral HOMETOWN CHIROPRACTIC: Gets Interim OK to Use Cash Collateral IMPAC MORTGAGE: Case Summary & 14 Unsecured Creditors IMPAC MORTGAGE: Seeks Chapter 11 Bankruptcy in Delaware INTERNATIONAL UNION: Case Summary & Two Unsecured Creditors JAGUAR LOGISTICS: Tamara Miles Ogier Named Subchapter V Trustee JMKA LLC: Unsecured Creditors to Split $160K over 36 Months KARBONX CORP: Reports $5.2MM Q3 Loss Amid Revenue Surge to $4.3MM KCAP RE FUND: Loses Bid to Stay Bowman Fair Housing Act Lawsuit KEY PAINTING: Lisa Rynard Named Subchapter V Trustee KKR CLO 20: Moody's Affirms Ba3 Rating on $27MM Class E Notes LACASA DEL: Commences Chapter 7 Bankruptcy in New York LAND GO: Robbin Messerli Named Subchapter V Trustee LIBERTY CARRIERS: Gets Interim to Use Cash Collateral LINQTO TEXAS: Kleipool Loses Bid for New Election Under Ch. 11 Plan LIVE WELL MEDICAL: High Court Passes on Founder's Bond Fraud Appeal MADISON IAQ: Moody's Ups CFR to 'Ba3', Outlook Stable MAG DS CORP: Moody's Affirms 'B3' CFR & Alters Outlook to Negative MARTINI FITNESS: Voluntary Chapter 11 Case Summary MAXIM CRANE: Moody's Affirms 'B2' CFR, Outlook Remains Stable MIRACLE BUILDERS: Seeks Chapter 7 Bankruptcy in New York MISS AMERICA: Director Seeks to Void Ownership Dispute Settlement MONTREAL MAINE: Canadian Pacific, et al., Wins Summary Judgment Bid MP OCTOPUS: To Sell Pizza Restaurant Assets to Mahesh Patel MTF HOLDINGS: Seeks to Extend Plan Exclusivity to Aug. 19 NELLIS CAB: Court OKs Bid Rules for Transportation Asset Sale NEW GOLD: Moody's Withdraws 'B2' CFR Following Coeur Transaction NINE ENERGY: Advisory Firms Justify Fees in Chapter 11 NORTHERN ILLINOIS UNIVERSITY: Moody's Cuts Issuer Rating to Ba1 NRPF GROUP: Court OKs Bid Rules for Restaurant Biz Sale NXT ENERGY: Gerry Sheehan Named CEO; Former CEO Stays on Board OEM PLUS: Seeks Chapter 7 Bankruptcy in California OLIVER PARK: Unsecureds to be Paid in Full via Quarterly Payments ONYX PORTFOLIO: To Sell Houston Property to Michelle Cabanillas PALLIATIVE CARE: Seeks Chapter 7 Bankruptcy in California PARAMOUNT ROOFING: Hearing Today on Bid to Use Cash Collateral PERFECT CHOICE: Carol Fox of GlassRatner Named Subchapter V Trustee PRINCE GLOBAL: Foreign Representatives Win Provisional Relief Bid PRINCE GLOBAL: Judge Allows Liquidators to Obtain U.S. Bank Records RENAISSANCE HOLDING: Moody's Alters Outlook on B3 CFR to Negative RMG ERECTORS: Gets Interim OK to Use Cash Collateral Until May 15 RONLAT EENTERPRISES: Behrooz Vida Named Subchapter V Trustee ROSE RENTAL: Court OKs Withdrawal of Canton Property Sale ROYAL CARD: Eric Terry Named Subchapter V Trustee RUNITONETIME LLC: Seeks to Extend Plan Exclusivity to Aug. 10 S&S HOLDINGS: S&P Downgrades ICR to 'B-', Outlook Stable SABLE OFFSHORE: Plans Senior Secured Term Loan Refinancing in Q2 SAINT AUGUSTINE'S: Case Summary & 20 Largest Unsecured Creditors SANTA PAULA: To Sell Santa Paula Property to Highest Bidder SEAFARER'S LLP: Initiates Chapter 11 Bankruptcy in Washington SELCUK AHMET TOMBUL: Can't Seek Relief Under Subchapter V SMARTZ INC: Gets Interim OK to Use Cash Collateral SPIRIT AIRLINES: Nears Deal with Avenger to Extend Flight Training SPIRIT AIRLINES: Pres. Trump Weighs Govt. Purchase of Airlines SRC HOLDINGS: Initiates Chapter 11 Bankruptcy in California SSPB DEVELOPMENT: Seeks Chapter 7 Bankruptcy in California START TO FINISH: Gets Interim OK to Use Cash Collateral STEVEN GIRALT: Seeks Chapter 7 Bankruptcy in New York SUPPORTIVE HANDS: James Cross Named Subchapter V Trustee SVK CAPITAL: Commences Chapter 11 Bankruptcy in California SYNERGY CAPITAL: Case Summary & Two Unsecured Creditors TAWR PROPERTY: Gets Final OK to Use Cash Collateral TEMP UNLIMITED: Commences Chapter 7 Bankruptcy in California TEXAS WINE: Frances Smith Named Subchapter V Trustee TRIPLETT FUNERAL: Court Denies Motion to Sell Kahoka Property TRM NRE: Seeks Appointment of Stretto as Claims and Noticing Agent TRS CONTRACTING: Case Summary & 16 Unsecured Creditors TRUE VISION: Seeks 60-Day Extension of Plan Filing Deadline VALVES AND CONTROL: June 16 Plan Confirmation Hearing Set VERATICS INC: Aaron Cohen Named Subchapter V Trustee VILLAGE HOMES: To Sell Aledo Property to Colby & Sagrario Webster VIVIAN ACEVEDO-FONSECA: May 1 Deadline for Panel Questionnaires WELLPATH HOLDINGS: Dismissal of Konias Claims v. Tanner Affirmed WELLPATH HOLDINGS: Dismissal of Young Civil Rights Case Affirmed WELLPATH HOLDINGS: Order Dismissing Individual Defendants Vacated WHITEWATER WHISTLER: S&P Affirms 'BB' ICR as Leverage Remains High WHITTAKER CLARK: 3rd Circuit Reaffirms Support for Chapter 11 WINE COUNTRY: Christy Brandon Named Subchapter V Trustee WISER SOLUTIONS: Seeks Chapter 11 Bankruptcy in Texas WORKSPORT LTD: Adds 1.39MM Shares to 2022 Equity Incentive Plan WORKSPORT LTD: Reaffirms $35M–$42M Revenue Guidance on Nexus Launch WORLDSTRIDES: Moody's Assigns 'Caa2' CFR, Outlook Stable WREN US: Seeks Chapter 7 Bankruptcy Abruptly with Over $100MM Debt WW INTERNATIONAL: To Pay Down $40MM Debt, Maintains FY Outlook [^] Recent Small-Dollar & Individual Chapter 11 Filings ********* 24 HENRY: Seeks Chapter 7 Bankruptcy in New York ------------------------------------------------ On April 24, 2026, 24 Henry Rd Limited filed for Chapter 7 protection in the U.S. Bankruptcy Court for the Eastern District of New York. According to court filings, the Debtor reports between $100,001 and $1,000,000 in debt owed to 1–49 creditors. About 24 Henry Rd Limited 24 Henry Rd Limited is a business entity that appears to be involved in property holding or real estate-related activities, based on its naming structure. 24 Henry Rd Limited sought relief under Chapter 7 of the U.S. Bankruptcy Code (Bankr. Case No. 26-71608) on April 24, 2026. In its petition, the Debtor reports estimated assets ranging from $0 to $100,000 and estimated liabilities ranging from $100,001 to $1,000,000. Honorable Bankruptcy Judge Alan S. Trust handles the case. 410 SOUTH: Seeks Court Approval to Hire Tucker Ellis as Counsel --------------------------------------------------------------- 410 South Morgan Street LLC seeks approval from the U.S. Bankruptcy Court for the Northern District of Illinois to hire Tucker Ellis LLP to serve as counsel for the Debtor. Tucker Ellis LLP will provide these services: (a) advising the Debtor on all legal issues as they arise; (b) representing and advising the Debtor on issues related to existing loan obligations; (c) preparing, on behalf of the Debtor, all necessary pleadings, reports, and other papers; (d) representing and advising the Debtor in all proceedings in this case; (e) assisting and advising the Debtor in the administration of its estate; and (f) providing such other services as are customarily provided by counsel to chapter 11 debtors in cases of this kind. Tucker Ellis LLP will charge hourly rates ranging from $315 to $1,250, with no attorney expected to bill above $775 per hour. Paraprofessional services will be billed at hourly rates ranging from $245 to $455. Tucker Ellis LLP is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code, according to court filings. The firm can be reached at: Thomas R. Fawkes, Esq. Brian J. Jackiw, Esq. Jason J. Ben, Esq. TUCKER ELLIS LLP 233 S. Wacker Drive, Ste. 6950 Chicago, IL 60606 Telephone: (312) 256-9425 E-mail: thomas.fawkes@tuckerellis.com About 410 South Morgan Street LLC 410 South Morgan Street LLC is a real estate holding company involved in the ownership and management of commercial property assets in Illinois. 410 South Morgan Street LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 26-03909) on March 4, 2026. In its petition, the Debtor reports estimated assets between $50 million and $100 million and estimated liabilities between $10 million and $50 million. Honorable Bankruptcy Judge Deborah L. Thorne handles the case. The Debtor is represented by Thomas R. Fawkes, Esq. of Tucker Ellis, LLP. 458 BRIDGEHAMPTON: Seeks Subchapter V Bankruptcy in New York ------------------------------------------------------------ On April 23, 2026, 458 Bridgehampton Sag Harbor LLC filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Eastern District of New York. According to court filings, the debtor reports between $1 million and $10 million in debt owed to 1–49 creditors. The Chapter 11 Subchapter V plan is due on July 22, 2026. About 458 Bridgehampton Sag Harbor LLC 458 Bridgehampton Sag Harbor LLC is a single asset real estate company. 458 Bridgehampton Sag Harbor LLC sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.Y. Case No. 26-71604) on April 23, 2026. In its petition, the debtor reports estimated assets in the range of $100,001 to $1,000,000 and estimated liabilities between $1 million and $10 million. Honorable Bankruptcy Judge Alan S. Trust handles the case. 505 SR: Seeks Chapter 11 Bankruptcy in New York ----------------------------------------------- On April 23, 2026, 505 Sr Ave LLC filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Eastern District of New York. According to court filings, the debtor reports between $1 million and $10 million in debt owed to 1–49 creditors. About 505 Sr Ave LLC 505 Sr Ave LLC is a limited liability company engaged in real estate-related activities, typically involving property ownership, leasing, or management. The company sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.Y. Case No. 26-41990) on April 23, 2026. In its petition, the debtor reports estimated assets between $1 million and $10 million and estimated liabilities in the same range. The debtor is represented by Matthew G. Roseman, Esq., of Cullen and Dykman LLP. 520 MADISON: Paul Levine Named Subchapter V Trustee --------------------------------------------------- The U.S. Trustee for Region 2 appointed Paul Levine, Esq., at Lemery Greisler, LLC as Subchapter V trustee for 520 Madison Ave, LLC. Mr. Levine will be paid an hourly fee of $480 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Levine declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Paul A. Levine, Esq. Lemery Greisler, LLC 677 Broadway, 8th Floor Albany, New York 12207 Tel: (518) 433-8800 x313 | Email: plevine@lemerygreisler.com About 520 Madison Ave LLC 520 Madison Ave, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. N.Y. Case No. 26-10395) on April 14, 2026, with $100,001 to $500,000 in assets and up to $50,000 in liabilities. Judge Patrick G. Radel oversees the case. 923 KENNEDY STREET: Commences Chapter 11 Bankruptcy in D.C. ----------------------------------------------------------- On April 22, 2026, 923 Kennedy Street, NW, LLC, filed for Chapter 11 protection in the U.S. Bankruptcy Court for the District of Columbia. According to court filings, the debtor reports between $100,001 and $1,000,000 in debt owed to 1–49 creditors. A meeting of creditors under Section 341(a) to be held on May 21, 2026 at 02:00 PM US Trustee Remote 341: (888) 330-1716; Passcode: 5678318. About 923 Kennedy Street, NW, LLC 923 Kennedy Street, NW, LLC is a real estate entity engaged in the ownership and management of property assets. The company’s activities typically center on holding and operating real estate investments, which may include residential or commercial properties. 923 Kennedy Street, NW, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-00200) on April 22, 2026. In its petition, the debtor reports estimated assets between $1 million and $10 million and estimated liabilities ranging from $100,001 to $1,000,000. Honorable Bankruptcy Judge Elizabeth L. Gunn handles the case. The debtor is represented by Brett Weiss, Esq. of The Weiss Law Group, LLC. ACCENT COMFORT: Gets Final OK to Use Cash Collateral ---------------------------------------------------- Accent Comfort Services, LLC received final approval from the U.S. Bankruptcy Court for the Western District of North Carolina, Charlotte Division, to use cash collateral. Under the final order, the Debtor is permitted to use cash collateral strictly in accordance with an approved budget, subject to a 10% variance per line item. The funds can only be used for authorized operating expenses and any use outside the budget is prohibited. The Debtor listed Newtek Small Business Finance, LLC, C T Corporation System, Corporation Service Company, Family Funding Group, LLC and QFS Capital, LLC as the creditors that may have interest in the cash collateral. As adequate protection for the Debtor's use of their cash collateral, creditors will be granted replacement liens on post-petition property and proceeds to the same extent and priority as their pre-petition liens. The final order preserves all parties' rights to later challenge the validity, priority, or extent of liens and claims. Under the final order, third parties owing receivables to the Debtor are directed to pay those amounts directly to the Debtor. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/imVVj from PacerMonitor.com. About Accent Comfort Services LLC Accent Comfort Services, LLC, doing business as Accent Heating and Cooling, provides residential and commercial heating, air conditioning, plumbing, electrical, ventilation, and remodeling services, including emergency response, in Charlotte, North Carolina, and parts of South Carolina. Founded in 2005, the Charlotte-based family business operates across multiple cities in both states, offering HVAC and related system maintenance and repair. Accent Comfort Services, LLC filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. W.D.N.C. Case No. 26-30097) on January 27, 2026, listing $500,000 to $1 million in assets and $1 million to $10 million in liabilities. The petition was signed by Frank C. Celeste as officer. Judge Laura T. Beyer presides over the case. John C. Woodman, Esq., at Essex Richards, P.A. serves as the Debtor's legal counsel. ADC AND T: To Sell Vehicle to Palomino Motors for $140K ------------------------------------------------------- ADC and T LLC seeks approval from the U.S. Bankruptcy Court for the Northern District of Texas, Dallas Division, to sell Property, free and clear of liens, claims, interests, and encumbrances. The Debtor was the owner of a 2023 Mercedes Maybach automobile (Vehicle). The Debtor requests the Court to enter an order authorizing the sale of the Vehicle free and clear of all liens, claims and encumbrances nunc pro tunc to Palomino Motors and that such liens, claims and encumbrances attach to the sale proceeds that were paid to the Secured Lender. The Debtor seeks nunc pro tunc approval to sell the Vehicle to Palomino Motors for the price of $140,000.00. Palomino Motors, 7021 John Carpenter Freeway, Dallas TX 75247 tried to sell the Vehicle prior to the filing of the case and also after the filing and their recent offer is the best offer that has been received. The Debtor had marketed the Vehicle for sale by consigning it to Palomino Motors, which is an experienced independent car dealership. The Consignee placed the Vehicle on its public lot and used its best efforts to sell it. The Debtor believes the Purchase Price is fair and reasonable. The Vehicle was encumbered by a lien in favor of First Citizens Bank. The balance due on the loan secured by the Vehicle is in excess of the purchase price; however, the Lender agreed to release its lien in exchange for the Purchase Price of $140,000. The Debtor adequately marketed the Vehicle and asserts the proposed Purchase Price is fair and reasonable. The Debtor will show at the hearing that the sale was at arm’s length, in good faith, and in an effort to achieve the best offer for the Vehicle. About ADC and T LLC ADC and T LLC, doing business as BIG Game, provides transportation and logistics services, including hauling operations involving trucks, trailers, and heavy equipment. The Company operates in Texas and serves sectors such as construction, aggregates, or oilfield services. ADC and T LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Tex. Case No. 25-32569) on July 9, 2025. In its petition, the Debtor reported estimated assets and liabilities between $1 million and $10 million each. The Debtors are represented by Joyce W. Lindauer Attorney, PLLC. AI ERA CORP: Taps Craft Capital for NYSE American Direct Listing ---------------------------------------------------------------- AI Era Corp. disclosed in a regulatory filing that it entered into a Financial Advisory Agreement with Craft Capital Management LLC. Pursuant to the Advisory Agreement, Craft Capital has been engaged as the exclusive U.S. financial advisor to the Company in connection with the proposed direct listing of the Company's equity securities on the NYSE American Exchange (or another national securities exchange) and to provide general financial advisory services at the request of the Company. As consideration for the services, the Company agreed to pay Craft Capital a non-refundable cash fee of $570,000 (of which $35,000 was previously paid under the prior Underwriting Engagement Letter dated January 15, 2026), issue approximately $300,000 worth of common shares of the Company based on the direct listing price per share (issuable approximately 30 days prior to the Listing Date), and reimburse Craft Capital for reasonable, documented out-of-pocket expenses up to $150,000. The Advisory Agreement contains customary provisions regarding exclusivity for U.S. Listing Services, a right of first refusal for certain future financings, indemnification, confidentiality, and termination. The Advisory Agreement automatically terminated the Company's prior Underwriting Engagement Letter with Craft Capital dated January 15, 2026. The obligation of Craft Capital to provide material Listing Services and the payment of the success fee are subject to the Company delivering a written Commencement Notice confirming that: (i) the going concern qualification in the Company's auditor's report has been resolved to the satisfaction of the NYSE American (in its discretion) and (ii) the Company is ready to initiate the NYSE American direct listing application process. A full text copy of the Advisory Agreement is available at https://tinyurl.com/2b4kk6vp About AI Era Corp. AI Era Corp. (formerly AB International Group Corp.) is an intellectual property investment, acquisition, and licensing company focused primarily on the entertainment media sector. The Company acquires copyrights and broadcast rights for movies, television series, and short-form drama series, which it monetizes through licensing (broadcast and download), embedded marketing services, AI-enhanced consulting, and direct copyright sales. In addition, the Company operates the Mt. Kisco Theatre in Mount Kisco, New York, generating revenue from ticket admissions, concessions, and on-screen advertising. As of February 28, 2026, the Company had $9 million in total assets, $2.8 million in total liabilities, and $6.2 million in total stockholders' equity. As of February 28, 2026, the Company had limited cash, an accumulated deficit of approximately $7.8 million and a working capital deficit of approximately $1.6 million. The continuation of the Company as a going concern is dependent upon the continued financial support from its stockholders or external financing and achieving operating profits. These factors, among others, raise the substantial doubt regarding the Company's ability to continue as a going concern. AIP RD BUYER: Moody's Affirms 'B2' CFR, Alters Outlook to Negative ------------------------------------------------------------------ Moody's Ratings affirmed AIP RD Buyer Corp.'s (dba RelaDyne) B2 Corporate Family Rating, and B2-PD Probability of Default Rating. The rating on the senior secured first lien term loan has been affirmed at B3. The rating outlook has been revised to negative from stable. RATINGS RATIONALE The revision of RelaDyne's outlook to negative reflects a sharp increase in leverage resulting from weaker than expected performance in FY2025, as well as a series of debt-funded acquisitions during 2025. It also reflects the company's inconsistent free cash flow generation in recent years. The affirmation of the B2 CFR however reflects the potential for credit metrics to return to levels commensurate with the current rating over the next 12-18 months. RelaDyne's pro forma Moody's adjusted leverage was 6.8x at the end of 2025, including the annualized impact of recently made acquisitions, targeted synergies, and recent customer account wins. This deteriorated sharply from 4.8x at the end of 2024. RelaDyne's performance in 2025 was weaker than Moody's prior expectations, partly driven by a below-normal year for its emergency services segment. Additionally, Moody's adjusted debt increased by nearly $300 million year-over-year, to fund ~$180 million in acquisitions as well as an increase in working capital during the year. Moody's adjusted free cash flow was a use of $77 million during 2025. Looking forward, while Moody's expects modest improvement in performance across its segments in 2026, Moody's sees Moody's adjusted leverage staying closer to Moody's downgrade threshold of mid-6.0x. RelaDyne's B2 CFR is supported by its position as the leading domestic distributor of lubricants, fuels, chemicals and other products, an asset-light business model, and a good track record of integrating acquisitions. Other strengths include barriers to entry stemming from the unique national footprint, preferred supplier status among key lubricant and fuel suppliers, and exposure to reliability service applications which provide more stable sales. The rating is also supported by Moody's expectations that the company will not distribute dividends to its private equity sponsor, American Industrial Partners (AIP). The rating is constrained by modest gross profit and EBITDA margins, indicative of the distribution industry, and high amounts of debt on the balance sheet increasing the risk that financial leverage remains elevated as a result of M&A objectives in the highly fragmented distribution industry. Supplier concentration is also a risk in the credit as the top 5 lubricant suppliers account for the majority of supplied lubricant volumes. RelaDyne's rating is also constrained by a fairly narrow product focus in a highly competitive market with lubricants and fuel distribution representing about two-thirds of gross profit. Exposure to cyclical end markets and the volatility of oil prices are additional considerations, though RelaDyne has historically managed oil price shocks. RelaDyne's liquidity is good. At December 31, 2025, the company had $51 million of cash, and $285 million of remaining availability under its $425 million ABL credit facility due June 2030 (unrated), subject to a borrowing base. Moody's expects the company to generate modest positive free cash flow in 2026. The ABL contains a springing minimum fixed charge coverage ratio test, triggered when specified excess availability is less than 10%, with a covenant of 1.0x and no step-downs. The term loan does not contain any financial covenants. The B3 rating on the company's senior secured first lien term loan, one notch below the CFR, reflects their relative position in the capital structure, behind the $425 million ABL credit facility (unrated). The negative outlook reflects Moody's expectations for credit metrics to be pressured over the next 12-18 months, although with the possibility for them to return to levels commensurate with the current rating. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS Moody's could consider an upgrade if the pace and scale of acquisitions contribute to EBITDA without increasing debt and facilitates leverage improvement to below 4.5x and RCF to Net Debt above 12%, both on a sustained basis with a commitment from the financial sponsor to maintain a more conservative financial policy. Moody's could consider a downgrade if Moody's adjusted leverage rises above the mid-6x range for a sustained period or RCF to Net Debt falls below 8%, or the company continues to generate negative free cash flow or liquidity significantly weakens. Another debt-financed acquisition exceeding $100 million or insufficient progress integrating prior acquisitions could also trigger a downgrade. The principal methodology used in these ratings was Distribution and Supply Chain Services published in November 2025. The net effect of any adjustments applied to rating factor scores or scorecard outputs under the primary methodology(ies), if any, was not material to the ratings addressed in this announcement. Headquartered in Houston, Texas, RelaDyne distributes lubricants, fuel and chemicals as well as providing equipment reliability services serving the automotive, commercial and industrial markets. AITX: Sets $1.7MM Monthly Recurring Revenue Target for FY2027 ------------------------------------------------------------- Artificial Intelligence Technology Solutions, Inc. outlined management's revenue targets for the current fiscal year and provided perspective on the Company's view of long-term market opportunity across its autonomous security and agentic AI software platforms. Management indicated a target of approximately $1.7 million in recurring monthly revenue (RMR1) by the end of the fiscal year ending February 28, 2027, driven by continued growth in its stationary device portfolio along with expanding contributions from ROAMEO(TM) and SARA(TM). Management indicated that its stationary device business from subsidiary Robotic Assistance Devices, Inc. (RAD-I), which includes RIO(TM), ROSA(TM), and AVA(TM), is expected to continue its growth trajectory, with a target of approaching $1 million in RMR by the end of the current fiscal year. This segment remains the foundation of the Company's revenue model and is expected to support the Company's near-term objective of achieving positive operational cash flow. Management estimates the long-term addressable market for its ROAMEO autonomous mobile security patrol vehicle to exceed 50,000 units across the United States and Canada, approximately 20,000 units across Latin America, and an additional 50,000 units across Europe and parts of the Middle East. While third party research firms2 typically report market size in revenue terms rather than unit counts, these estimates reflect management's view of the long-term opportunity based on such market data, combined with internal assumptions regarding deployment scale and adoption. "Heading into this fiscal year, our focus is clear," said Steve Reinharz, CEO/CTO and founder of AITX and all RAD subsidiaries. "We are building the business to reach positive operational cash flow on the strength of our stationary solutions, including RIO, ROSA, and AVA. We expect continued growth from these core products to support a monthly run rate approaching $1 million. We are targeting ROAMEO to contribute over $200,000 in monthly recurring revenue, with SARA contributing an additional $500,000 or more. Together, that positions us to target approximately $1.7 million in monthly recurring revenue by the end of this fiscal year, or roughly $20 million on an annualized basis, while continuing to expand across what we believe is a significant global opportunity." The Company noted that it intends to continue executing against its core strategy of expanding its installed base of revenue generating devices while advancing its software and autonomous platforms. Management emphasized a disciplined approach to growth, with continued investment in product development, deployment capabilities, and customer support infrastructure as it scales its recurring revenue base. About Artificial Intelligence Technology Headquartered in Ferndale, Mich., Artificial Intelligence Technology Solutions Inc. provides artificial intelligence-based solutions that empower organizations to gain new insight, solve complex challenges, and fuel new business ideas. Through its next-generation robotic product offerings, AITX's RAD, RAD-R, RAD-M, and RAD-G companies help organizations streamline operations, increase ROI, and strengthen business. AITX technology improves the simplicity and economics of patrolling and guard services, allowing experienced personnel to focus on more strategic tasks. Customers augment the capabilities of existing staff and gain higher levels of situational awareness, all at drastically reduced costs. AITX solutions are well-suited for use in multiple industries such as enterprises, government, transportation, critical infrastructure, education, and healthcare. Deer Park, Ill.-based L J Soldinger Associates, LLC, the Company's auditor since 2019, issued a "going concern" qualification in its report dated May 29, 2025, attached to the Company's Annual Report on Form 10-K for the fiscal year ended February 28, 2025, citing that the Company had negative cash flow from operating activities of approximately $12.2 million, an accumulated deficit of approximately $156.5 million and negative working capital of approximately $2.5 million as of and for the year ended February 28, 2025, which raises substantial doubt about its ability to continue as a going concern. As of November 30, 2025, the Company had $9.63 million in total assets, $58.33 million in total liabilities, and a total stockholders' deficit of $49.58 million. ALLEN MEDIA: Moody's Alters Outlook on 'Caa1' CFR to Stable ----------------------------------------------------------- Moody's Ratings affirmed Allen Media, LLC's ("AMG" or the "company") Caa1 corporate family rating, Caa1-PD probability of default rating, B2 rating on the backed senior secured bank credit facilities and Caa3 rating on the backed senior unsecured notes. The outlook was revised to stable from negative. RATINGS RATIONALE The revision of the outlook to stable reflects AMG's progress on steadying its credit profile by expanding content distribution, reducing production costs, and improving profitability. This has led to a decrease in restricted group financial leverage from around 11.4x at FYE 2024 to 10.6x at FYE 2025 (all leverage metrics are Moody's adjusted on a two-year average EBITDA basis). The outlook change also considers AMG's improved liquidity and the potential for further deleveraging following the company's agreement to sell several broadcast television stations across ten Midwestern and Southern US markets to Gray Media, Inc. (B2, stable) for $171 million. On March 27, 2026, AMG completed the sale of three stations associated with the sale agreement for $56 million in gross proceeds. The remaining stations are expected to close in Q2 2026 pending FCC and DOJ approval. Despite the loss of EBITDA associated with the sale of station assets, Moody's expects AMG will use the net proceeds to repay at least a proportionate amount of debt to support additional leverage reduction below 10x over the rating horizon. The affirmation of the Caa1 CFR reflects AMG's elevated restricted group leverage, history of negative free cash flow (FCF) and a track record of debt-financed M&A. The absence of excess cash flow for debt repayment means there is limited capacity to address upcoming debt maturities without a balance sheet restructuring. Hence, the CFR continues to reflect governance risks associated with one or more likely distressed debt exchanges occurring within the next twelve months. This could be associated with the $822 million outstanding term loan due February 2027, which is current, as well as the $104 million privately placed senior secured notes issued in February 2025 to replace AMG's revolving credit facility (RCF), also maturing in February 2027. AMG has high exposure to advertising revenue, which is inherently cyclical, and the ongoing structural decline in the linear TV core advertising industry as non-political TV advertising budgets continue to erode in favor of digital media. Moody's expects AMG's core ad revenue will continue to be pressured, which could worsen during periods of weak CPM (cost per thousand impressions) pricing, depressed TV ratings, deteriorating macroeconomic conditions and/or displacement during election years, in Moody's opinions. Though AMG receives a material influx of high margin political ad revenue in election years, and a lesser amount in non-election years, political revenue is also increasingly shifting to digital platforms. Moody's expects subscription license and retransmission revenues will continue to experience pressure as the rate of traditional subscriber losses outpaces annual fee increases, partially offset by virtual MVPD (vMVPD) subscriber growth. The company has continued to diversify its businesses and expand programming, however this burdens cash flows in the short-term. Despite AMG's growing media diversity, ratings reflect the company's smaller scale relative to larger broadcast and media peers. At the same time, the CFR is supported by AMG's unique position in the marketplace as a 100% black-owned media company, which has enabled AMG to successfully attract more advertising revenue to The Weather Channel (TWC) and Allen Media Networks following recent reprogramming initiatives. The company transitioned TWC's ratings to VideoAmp from Nielsen, which resulted in a material improvement in its ratings and higher ad impressions sold. The credit profile also reflects the potential for additional ad revenue and profitability associated with two recent positive moves by AMG. First, beginning May 22nd, CBS plans to air AMG's Comics Unleashed With Byron Allen in the 11:35pm time slot (moving it from its current 12:35am slot) followed by another AMG series, Funny You Should Ask, in the 12:35am slot. Since AMG will rent the two-hour slot, it will control the ad dollars in replacing the Late Show with Stephen Colbert. Second, AMG recently extended its distribution agreement with YouTube TV for another four years and added four more AMG networks to the streamer's platform for a total of eight that it will now carry. AMG's advertising revenue has also benefitted from the CEO's African American-owned media initiative that campaigns for increased advertising spend from large advertisers and the Big Four ad agencies. However, similar to AMG's peers, advertising, license and retransmission and revenues continue to be pressured by cord-cutting trends affecting both the broadcast and cable network industries, somewhat offset by vMVPD subscriber growth. Moody's ratings factor in $200+ million of annual run-rate cost reductions comprising net operating and capitalized programming expense savings fully realized in 2025. Over the next 12-18 months, Moody's expects AMG will maintain adequate liquidity. At FYE 2025, FCF (defined by us as cash flow from operations less capex less dividends) totaled -$78 million (Moody's adjusted) and cash and cash equivalents were around $37 million. In 2026, an election year, Moody's expects AMG will produce positive FCF in the range of $15 - $25 million and maintain cash balances in the range of $30 - $50 million. AMG's revolver was terminated in February 2025, which weakened the liquidity profile. However, AMG must comply with the credit agreement's quarterly 4.15x first-lien net leverage financial maintenance covenant compared to the company's first-lien net leverage ratio of 3.77x at December 31, 2025. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS Though unlikely near-term, ratings could be upgraded if AMG's restricted group financial leverage is sustained well below 8x on a two-year average EBITDA basis and two-year average FCF to debt sustained in the range of -1% to 1% (Moody's adjusted). AMG would also need to: (i) exhibit organic revenue growth and stable-to-improving EBITDA margins on a two-year average basis; (ii) exhibit a track record of more conservative financial policies; and (iii) maintain at least adequate liquidity to be considered for an upgrade. Ratings could be downgraded if Moody's expects restricted group financial leverage will be sustained above 10x on a two-year average EBITDA basis (Moody's adjusted) as a result of weak operating performance or more aggressive financial policies. A downgrade could also arise if two-year average FCF is negative on a sustained basis (Moody's adjusted) or AMG experienced deterioration in liquidity or covenant compliance weakness. Ratings could also be downgraded if Moody's expects AMG will pursue a balance sheet restructuring and/or distressed exchange. Headquartered in Los Angeles, CA, Allen Media, LLC is a minority-owned, privately-held diversified media company. Pro forma for the sale of station assets to Gray Media, Inc., the company will own and operate 15 full-power and three low-power broadcast television stations in 11 small and medium-sized markets, reaching less than 5% of US households. The company owns The Weather Channel (TWC) and eight 24-hour high-definition television networks. With these assets, AMG produces around 5,000 hours of original local weather, news, sports and entertainment programming and content including Emmy Award-winning and nominated shows that reach over 200 million subscribers. Broadcast television stations include affiliations with each of the Big Four networks: ABC, CBS, FOX and NBC. Allen Media Studios produces and distributes 41 television programs including Cars.TV, Comedy.TV, ES.TV, Justice Central.TV, Recipe.TV, MyDestination.TV, and Pets.TV. The company also owns sports focused streamer HBCU Go. AMG's revenue totaled around $648 million for FYE December 31, 2025. The principal methodology used in these ratings was Media published in September 2025. The net effect of any adjustments applied to rating factor scores or scorecard outputs under the primary methodology(ies), if any, was not material to the ratings addressed in this announcement. ALVOGEN PHARMA: S&P Alters Outlook to Pos., Affirms 'CCC+' ICR -------------------------------------------------------------- S&P Global Ratings affirmed its 'CCC+' issuer credit rating on U.S.-based pharmaceutical company Alvogen Pharma US Inc., revised the outlook to positive from stable, and affirmed its 'CCC-' issue-level rating and '6' recovery rating on its second-lien term loan. The positive outlook reflects increased potential for a higher rating if Alvogen consistently generates free cash flow. This would likely require the successful launch of significant new products ahead of S&P's expectations or improved visibility of expanded pipeline opportunities provided by Lotus. The parent of U.S.-based pharmaceutical company Alvogen Pharma US Inc. was acquired by Taiwan-based Lotus Pharmaceutical Co. Ltd. (not rated), potentially improving its near-term operational and financial prospects by expanding pipeline opportunities and improving its access to capital. S&P said, "We view Alvogen as strategically important to Lotus because Alvogen provides a US manufacturing footprint and commercial infrastructure and given their long-standing partnership via equity ties and business collaborations. "We continue to expect material sales and EBITDA declines in 2026 due to higher generic competition for its top two products and uncertainty around new product launch timing." The positive outlook reflects potential near-term benefits from new ownership. S&P said, "We believe Lotus could enhance Alvogen's short‑term operational visibility by increasing pipeline opportunities and reducing exposure to single product launch delays caused by litigation and U.S. Food and Drug Administration (FDA) timing variability. Alvogen's business model has historically relied on aggressively challenging patents of a limited number of branded pharmaceutical products, which involves significant product launch uncertainty. We expect greater visibility into the magnitude of pipeline opportunities over the next 12 months. To the extent these improve Alvogen's ability to sustainably stabilize cash flow, we could raise the rating." The acquisition improves Alvogen's access to capital. As a wholly owned subsidiary of Lotus, Alvogen benefits from the stronger credit profile of a larger, publicly listed company. However, Alvogen's stand-alone credit profile remains constrained by high interest costs contributing to expected free cash flow deficits in 2026 and medium-term maturities, including its $240 million asset-based lending (ABL) facility (about 50% drawn) and $522 million first-lien term loan due in 2028, creating potential refinancing concerns beginning in late 2027. Lotus assumed Alvogen's debt as part of the transaction, increasing its blended interest rate to the low-double-digit percent area from the mid-single-digit area. S&P anticipates Lotus will pursue a comprehensive refinancing to reduce the overall interest burden and extend maturities, which would improve its view of Alvogen's stand-alone prospects. S&P said, "Our base case anticipates a significant decline in Alvogen's sales and EBITDA in 2026 because of higher competition, uncertainty around new product launches, and the time necessary for benefits from its new ownership to materialize. We project a 25% decline in revenue in 2026, following a 17% decline in 2025, primarily from the expiration of volume-limiting settlements and increasing generic competition for Alvogen's two leading products, which accounted for about 60% of revenue in 2025. While the company has a pipeline of at least four meaningfully contributing launches planned over the next two years, our forecast remains conservative. We assume only one of these products will launch in 2026, creating significant upside potential." Alvogen has a history of successfully challenging patents, enabling early market entry for its products, such as with the tentative approval for Rifaximin in June 2023. Our base-case forecast anticipates a 2028 launch, coinciding with the expected entry of other generic competitors. While earlier launches are possible, legal challenges from originator companies pose a risk of delays for Rifaximin and other products in the near-term pipeline. Alvogen has also invested in expanding its more stable, higher-margin branded pharmaceuticals business. This segment represents 10% of sales, and we don't expect it to offset the near-term decline in generics revenue. A free operating cash flow (FOCF) deficit and limited covenant headroom loom in 2026. S&P said, "Alvogen had about $177 million of liquidity as of Dec. 31, 2025 ($57 million cash, $120 million in ABL capacity), and we expect about $90 million cash funds from operations over the next 12 months. While this is more than enough to cover mandatory debt amortization and relatively high capital spending (including purchase of intangibles), our base-case scenario includes an FOCF deficit in 2026 and minimal headroom on the first-lien term loan financial covenant." This reflects a nearly 20% decline in adjusted EBITDA, assuming limited success with new products. S&P said, "We expect that Lotus will support Alvogen in stress given its importance to the group's long-term strategy and long history of equity ties and business collaboration. However, Lotus would likely require creditor approval given the two distinct credit groups. "The positive outlook reflects the increased potential for a higher rating if we believe Alvogen will consistently generate free cash flow. This would likely require the successful launch of significant new products ahead of our expectations or improved visibility of expanded pipeline opportunities provided by Lotus." S&P could revise its outlook or lower our rating if S&P envisioned a specific default scenario within 12 months. This could occur if: -- Sales erosion on existing products was more severe than S&P's base case; or -- Significant new product launches were unsuccessful, worsening credit metrics and resulting in a covenant breach. S&P could raise the rating on Alvogen if: -- S&P expected consistent free cash flow through successful significant new product launches or the expanded pipeline opportunities provided by Lotus; and -- It improved interest burden and maturity profile through a comprehensive refinancing. AMERICA'S REALTY: Seeks Chapter 7 Bankruptcy in California ---------------------------------------------------------- On April 24, 2026, America's Realty Associates, Inc. filed for Chapter 7 bankruptcy protection in the Eastern District of California Bankruptcy Court. According to court filings, the debtor reports between $100,001 and $1,000,000 in debt owed to approximately 1–49 creditors. About America's Realty Associates, Inc. America's Realty Associates, Inc. is a real estate services firm engaged in property brokerage, management, and related activities. America's Realty Associates, Inc. sought relief under Chapter 7 of the U.S. Bankruptcy Code (Bankr. E.D. Cal. Case No. 26-22322) on April 24, 2026. In its petition, the debtor reports estimated assets between $0 and $100,000 and estimated liabilities between $100,001 and $1,000,000. Honorable Bankruptcy Judge Christopher D. Jaime handles the case. The debtor is represented by Michael K. Moore, Esq. ANTELOPE HOSPITALITY: Gets OK to Use First Utah's Cash Collateral ----------------------------------------------------------------- The U.S. Bankruptcy Court for the District of Arizona approved a stipulation between Antelope Hospitality, LLC and its secured creditors, First Utah Bank and the U.S. Small Business Administration regarding the use of cash collateral. Under the court order, the Debtor is permitted to use cash collateral for post-petition expenses through June 30 in accordance with an approved budget. The budget allows a total monthly variance of up to 20%. All prior conditions from the interim cash collateral order remain in effect, including operational and reporting obligations. As adequate protection, First Utah Bank and the SBA will be granted replacement liens on the Debtor's post-petition assets, maintaining the same validity and priority as their pre-petition security interests but only to the extent cash collateral is actually used. The Debtor must also continue providing financial reports as required under prior agreements. Additionally, the Debtor must make monthly payments based on net operating income (NOI): 35% of NOI (capped at $25,000) to First Utah Bank and 8% of NOI (capped at $8,000) to the SBA. These payments are due monthly from May through July. The order preserves the creditors' rights to seek further protection or assert claims, including for any decline in collateral value after June 30. The order is available at https://is.gd/HbgMLy from PacerMonitor.com. The stipulation is available at https://is.gd/p1NqHX from PacerMonitor.com. About Antelope Hospitality Antelope Hospitality, LLC, doing business as Scenic View Inn, operates a full-service hotel in Page, Arizona. The hotel is positioned near major Northern Arizona attractions including Antelope Canyon, Horseshoe Bend, Glen Canyon National Recreation Area, Lake Powell, and local dining and shopping options, serving as a base for tourists, photographers, and adventurers. Antelope Hospitality filed for relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Ariz. Case No. 25-12347) on December 22, 2025, listing up to $10 million in assets and up to $50 million in liabilities. Honorable Bankruptcy Judge Paul Sala handles the case. The Debtor is represented by Bradley D. Pack, Esq., at Engelman Berger, PC. First Utah Bank, as secured creditor, is represented by: Matthew H. Sloan, Esq. Jennings Haug Keleher McLeod Waterfall, LLP 2800 North Central Avenue, Suite 1800 Phoenix, AZ 85004-1049 Telephone: 602-234-7800 Facsimile: 602-277-5595 mhs@jkwlawyers.com AON STUDIOS: Robert Gainer Named Subchapter V Trustee ----------------------------------------------------- The Acting U.S. Trustee for Region 12 appointed Robert Gainer Robert Gainer for AON Studios, LLC. Mr. Gainer will be paid an hourly fee of $325 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Gainer declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: CUTLER LAW FIRM, P.C. Robert C. Gainer, Esq. 1307 50th Street West Des Moines, Iowa 50266 Telephone: 515-223-6600 Facsimile: 515-223-6787 E-mail: trustee@cutlerfirm.com About AON Studios LLC AON Studios, LLC, based in Des Moines, Iowa, provides video production and live streaming services, including corporate and commercial video production, legal deposition recording, podcast studio services, motion graphics, and virtual conferencing. Operating from a 6,000-square-foot facility, the company supports projects from pre-production through final delivery for business and media clients. AON Studios sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Iowa Case No. 26-00573) on April 13, 2026. In the petition was signed by Dwight A. Reed, chief executive officer, the Debtor disclosed up to $50,000 in assets and up to $10 million in liabilities. Judge Lee M. Jackwig oversees the case. The Debtor tapped Jeffrey D. Goetz, Esq., at Dickinson Bradshaw Fowler & Hagen, PC as legal counsel. ARTISTIC HOLIDAY: Gets Extension to Access Cash Collateral ---------------------------------------------------------- Artistic Holiday Designs, LLC and Holiday Creations Pro, Inc. received another extension from the U.S. Bankruptcy Court for the Middle District of Florida, Fort Myers Division, to use cash collateral. The court issued its ninth interim order authorizing the Debtors to use cash collateral to pay ordinary business expenses as set forth in their budget, subject to a 10% variance per line item. MEP Capital Holdings III, L.P. asserts interest in the cash collateral, which consists of cash and cash equivalents generated by the Debtors' operations or from the disposition of the lien claimant's pre-bankruptcy collateral. As protection, MEP and other lien claimants including B Squared, Inc., Melissa and Doug, LLC, and the U.S. Small Business Administration will be granted a replacement lien on the Debtors' post-petition assets, with the same validity and priority as their pre-bankruptcy liens. As additional protection, MEP will be granted a superpriority administrative expense claim in case of any diminution in the value of its collateral. The ninth interim order is available at https://shorturl.at/UgIco from PacerMonitor.com. The next hearing is set for May 20. MEP asserts approximately $5.686 million in debt under a senior secured loan agreement dated June 15, 2022, with claimed first-priority liens on substantially all assets of the Debtors. Other lien claimants include B Squared, Inc., Melissa and Doug, LLC, and the U.S. Small Business Administration, creating a complex multi-creditor secured debt structure typical of seasonal retail businesses requiring diverse financing sources. About Artistic Holiday Designs Artistic Holiday Designs, LLC filed Chapter 11 petition (Bankr. M.D. Fla. Case No. 25-00153) on January 29, 2025. listing up to $10 million in assets and up to $50 million in liabilities. Derek Norwood, managing member, signed the petition. Judge Caryl E. Delano oversees the case. Michael Dal Lago, Esq., at Dal Lago Law, represents the Debtor as legal counsel. MEP Capital Holdings III, L.P., as secured creditor, is represented by: Luis E. Rivera II, Esq. GrayRobinson, P.A. 1404 Dean Street, Suite 300 Fort Myers, Florida 33901 Phone: 239.254.8460 luis.rivera@gray-robinson.com ARTSTOCK: Hires Tiger Valuation Services as Inventory Appraiser --------------------------------------------------------------- Artstock d/b/a Artist & Craftsman Supply seeks approval from the United States Bankruptcy Court for the District of Maine to hire Tiger Valuation Services, LLC to serve as inventory appraiser. The firm will provide these services: (a) obtain and analyze financial statements and detailed internal management reports; (b) conduct detailed management interviews and virtual warehouse facility tours; (c) develop inventory values based on information provided by the Debtor; (d) prepare appraisal or other valuation report; and (e) document the assumptions and limiting conditions upon which the appraisal conclusions are based. Tiger Valuation Services, LLC will receive a flat fee of $17,000 plus reasonable expenses, including a postpetition retainer in the amount of $17,000. The compensation arrangement is subject to review under Section 328(a) of the Bankruptcy Code. Tiger Valuation Services, LLC is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code and does not hold or represent an interest adverse to the Debtor, according to court filings. The firm can be reached at: Tiger Valuation Services, LLC 60 State St 11th Floor Boston, MA 02109 Telephone: (617) 523-7002 Website: www.tigergroup.com About Artstock Artstock, doing business as Artist & Craftsman Supply, sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Maine Case No. 25-20305) on December 23, 2025, listing between $10 million and $50 million in both assets and liabilities. Judge Peter G. Cary oversees the case. The Debtor is represented by D. Sam Anderson, Esq., and Adam R. Prescott, Esq., at Bernstein Shur Sawyer & Nelson, PA. ATW HEALTH: Ira Bodenstein Named Subchapter V Trustee ----------------------------------------------------- The U.S. Trustee for Region 11 appointed Ira Bodenstein as Subchapter V trustee for ATW Health Solutions Inc. Mr. Bodenstein will be paid an hourly fee of $500 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Bodenstein declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. About ATW Health Solutions Inc. ATW Health Solutions Inc., based in Chicago, Illinois, is a healthcare consulting and advisory firm providing performance improvement, patient safety, and health systems transformation services. Founded in 2014, the company works with government agencies, healthcare systems, and public health organizations to support data-driven improvements in care quality and outcomes. Certified as a Woman-Owned Small Business, it participates in federal contracting programs focused on public health and healthcare system implementation. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 26-06364) on April 12, 2026, with $50,000 to $100,000 in assets and $1 million to $10 million in liabilities. Knitasha Washington, president, signed the petition. Judge Deborah L. Thorne presides over the case. Joseph Wrobel, Esq., at Joseph Wrobel, Ltd. represents the Debtor as legal counsel. BIG STORM: To Sell Liquor License to Henderson Group for $230K -------------------------------------------------------------- Big Storm Pinellas, LLC and its affiliates Big Storm Pinellas LLC and Big Storm Real Estate LLC, seek approval from the U.S. Bankruptcy Court for the Middle District of Florida, Tampa Division, to sell Liquor License, free and clear of liens, claims, interests, and encumbrances. The Debtor seeks to sell its Florida Alcoholic Beverage License BEV 39-00697 Series 4COP Quota (Liquor License) to the Henderson Group LLC. The Debtor is the owner and licensee of record of the Liquor License. On September 8, 2021, MRS IRA Investments LLC loaned the Debtor the sum of $126,000.00, secured by a first-position lien on the Liquor License. The Division of Corporations' records reflect that the Florida Department of Revenue holds outstanding judgment liens against the Debtor in the total amount of $288,880.71. On April 23, 2026, the Debtor and the Buyer entered into a Liquor License Asset Purchase Agreement pursuant to which the Buyer agreed to purchase the Liquor License from the Debtor for $230,000. Contemporaneous with execution of the Purchase Agreement, the Buyer paid an earnest money deposit in the sum of $23,000. The Debtor believes that the sale of the Liquor License represents a sound exercise of the Debtor's business judgment. The Debtor does not operate a business, is not making payments on its loan from MRS or on account of the DOR Liens, and continues to incur annual license renewal fees. Selling the Liquor License, subject to negotiation of an acceptable carve out with the DOR, will benefit the estate and eliminate the burdens associate with continued ownership of the Liquor License. The Buyer does not have any relationship to or connections with the Debtor and the sale is an arms' length transaction. About Big Storm Pinellas LLC Big Storm Pinellas LLC operates a brewery and taproom in Clearwater, Florida. The Company produces a range of craft beers and spirits, offering on-site dining and beverages in a large indoor-outdoor venue. It is affiliated with Big Storm Brewing Co., a regional craft beverage producer. Big Storm Pinellas LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 25-03975) on June 13, 2025. In its petition, the Debtor reports estimated assets up to $50,000 and estimated liabilities between $1 million and $10 million. Honorable Bankruptcy Judge Roberta A Colton handles the case. The Debtors are represented by Jake C. Blanchard, Esq. at BLANCHARD LAW, P.A. BIO-KEY INTERNATIONAL: Swings to Positive Income in 1H'26 Outlook ----------------------------------------------------------------- BIO-key(R) International, Inc. gave a preview of its business outlook for the first half of 2026 (1H'26) ending June 30, 2026, supported by building software license momentum and strength in hardware revenues. Expected 1H'26 Results: * 1H'26 revenues expected to grow 50% to approximately $5M vs. $3.3M in 1H'25 * Positive net income expected in 1H'26 vs. $1.9M net loss in 1H'25 * Cash position at the close of 1H'26 is expected to remain in line with $2.7M at year-end 2025 Q1'26 & Q2'26 Expected Revenues: * Q1'26 revenues expected to grow 37% to $2.2M vs. $1.6M in Q1'25 * Q2'26 revenues expected to grow 65% to $2.8M vs. $1.7M in Q2'25 BIO-key's improved 1H'26 results reflect the benefit of a $1.04M expanded, one-year software license renewal with a longstanding foreign retail bank customer in Q1'26 and more than $1M in contracts for the company's Pocket 10 Finger Scanners and Mobile POS Pro point-of-sales devices in Q1 and Q2'26. BIO-key CEO, Mike DePasquale commented, "Our groundwork last year positioned BIO-key for solid top- and bottom-line improvements that are now coming into focus in the first half of 2026. Building on our growing base of annually recuring software licenses and services revenues, we see improving traction with larger contract opportunities which we expect will benefit our results in the second half of 2026 and into 2027. These include an opportunity to deploy our biometric authentication technology with a foreign tax agency and potential deployment with a new foreign defense ministry, in addition to discussions with new enterprise customers, particularly in regulated industries where positive identity is essential. "These developments underscore the demand we are creating directly and via partners, particularly in regions with favorable regulatory frameworks. Through disciplined management of margins and overhead, we expect our top-line growth to translate into meaningful improvement on the net income line and in our ability to fund further growth." About BIO-key Holmdel, N.J.-based BIO-key International, Inc., founded in 1993, is revolutionizing authentication and cybersecurity with biometric-centric, multi-factor identity and access management (IAM) software securing access for over forty million users. BIO-key allows customers to choose the right authentication factors for diverse use cases, including phoneless, tokenless, and passwordless biometric options. Its hosted or on-premise PortalGuard IAM solution provides cost-effective, easy-to-deploy, convenient, and secure access to computers, information, applications, and high-value transactions. Henderson, Nev.-based Bush & Associates CPA LLC, the Company's auditor since 2024, issued a "going concern" qualification in its report dated April 23, 2025, attached to the Company's Annual Report on Form 10-K for the year ended December 31, 2024, citing that the Company has suffered substantial net losses and negative cash flows from operations in recent years and is dependent on debt and equity financing to fund its operations, all of which raise substantial doubt about the Company's ability to continue as a going concern. BRIDGE TO ADULTHOOD: Seeks to Extend Plan Exclusivity to July 21 ---------------------------------------------------------------- Bridge to Adulthood, LLC, asked the U.S. Bankruptcy Court for the Western District of Kentucky to extend its exclusivity periods to file a plan of reorganization and obtain acceptance thereof to July 21 and Sept. 19, 2026, respectively. The Debtor seeks an extension of its exclusivity period for filing and soliciting acceptances of a plan. Debtor and its professionals need additional time to gather and analyze relevant data for purposes of proposing a feasible and confirmable chapter 11 plan. The Debtor explains that Louise Smith is its largest creditor holding a judgment totaling approximately $4.5 million. Special Counsel to the Debtor has appealed that judgment in the Kentucky Court of Appeals. The appeal was temporarily stayed by the bankruptcy filing but has been returned to the active docket. Briefing has not begun. Moreover, if the Debtor prevails in whole or in part, it will have a significant impact on plan payments. Debtor is working with Special Counsel and the undersigned Counsel to create potential outcomes and corresponding financial projections. Bridge to Adulthood LLC is represented by: Charity S. Bird, Esq. Tyler R. Yeager, Esq. J. Gabriel Dennery, Esq. KAPLAN JOHNSON ABATE & BIRD LLP 710 W. Main St., 4th Floor Louisville, KY 40202 Telephone: (502) 416-1630 E-mail: cbird@kaplanjohnsonlaw.com tyeager@kaplanjohnsonlaw.com gdennery@kaplanjohnsonlaw.com About Bridge to Adulthood LLC Bridge to Adulthood LLC provides residential and community-based support services for individuals with intellectual and developmental disabilities in Kentucky. The Company participates in state Medicaid waiver programs, including the Michelle P. Waiver for children and teenagers and the Supports for Community Living program for adults, offering alternatives to institutional care. Its services include residential care, in-home and community support, and animal therapy, with operations centered at its facility in Allensville. Bridge to Adulthood LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Ky. Case No. 25-10810) on Sept. 23, 2025. In its petition, the Debtor reports estimated estimated assets between $100,000 and $500,000 and estimated liabilities between $1 million and $10 million. Honorable Bankruptcy Judge Joan A. Lloyd handles the case. The Debtor tapped Charity S. Bird, Esq., at Kaplan Johnson Abate & Bird LLP as bankruptcy counsel and Gray Ice Higdon, PLLC as special counsel. BROOKDALE SENIOR: Jordan Asher Will Not Seek Re-Election to Board ----------------------------------------------------------------- Brookdale Senior Living Inc. disclosed in a regulatory filing that Dr. Jordan R. Asher, a member of the Board of Directors, will not stand for re-election at the Company's 2026 annual meeting of stockholders. Dr. Asher will continue to serve as a director until the expiration of his term as of the 2026 Annual Meeting. His decision to not stand for re-election to the Board is not due to any disagreement with the Company, the Board, or the management of the Company on any matter relating to the Company's operations, policies, or practices. About Brookdale Senior Living Headquartered in Brentwood, Tenn., Brookdale Senior Living Inc. operates senior living facilities in the United States. As of December 31, 2025, the Company had $5.95 billion in total assets, $6 billion in total liabilities, and $43.38 million in total stockholders' deficit. * * * Egan-Jones Ratings Company on June 16, 2025, maintained its 'CC' foreign currency and local currency senior unsecured ratings on debt issued by Brookdale Senior Living Inc. CARIOLA GROUP: Tarek Kiem of Kiem Law Named Subchapter V Trustee ---------------------------------------------------------------- The Acting U.S. Trustee for Region 21 appointed Tarek Kiem, Esq., at Kiem Law, PLLC as Subchapter V trustee for Cariola Group, LLC. Mr. Kiem will be paid an hourly fee of $350 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Kiem declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Tarek Kiem, Esq. Kiem Law, PLLC 8461 Lake Worth Road, Suite 114 Lake Worth, FL 33467 Tel: (561) 600-0406 tarek@kiemlaw.com About Cariola Group LLC Cariola Group, LLC operates an advertising business based in Miami, Florida. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 26-14418) on April 9, 2026. In the petition signed by Mariano J. Cariola-Sanz, manager, the Debtor disclosed up to $50,000 in assets and up to $10 million in liabilities. Jacqueline Calderin, Esq., at Agentis PLLC, represents the Debtor's legal counsel. CELSIUS NETWORK: Admin Sought Mediation in Former Exec's Case ------------------------------------------------------------- Clara Geoghegan of Law360 Bankruptcy Authority reports that the lawyers representing the litigation administrator under Celsius Network's Chapter 11 plan told a New York bankruptcy court Monday, April 27, 2026, that they are preparing to enter mediation next month in a lawsuit targeting former executives. The suit stems from allegations tied to pre-bankruptcy conduct that plaintiffs claim contributed to the collapse of the crypto lending platform. The administrator is pursuing these claims as part of its mandate under the reorganization plan, according to report. Counsel indicated that mediation may help facilitate settlement discussions and conserve estate resources as the litigation continues, the report relays. About Celsius Network Celsius Network LLC -- http://www.celsius.network/-- is a financial services company that generates revenue through cryptocurrency trading, lending, and borrowing, as well as by engaging in proprietary trading. Celsius helps over a million customers worldwide to find the path towards financial independence through a compounding yield service and instant low-cost loans accessible via a web and mobile app. Celsius has a blockchain-based fee-free platform where membership provides access to curated financial services that are not available through traditional financial institutions. The Celsius Wallet claims to be one of the only online crypto wallets designed to allow members to use coins as collateral to get a loan in dollars, and in the future, to lend their crypto to earn interest on deposited coins (when they're lent out). Crypto lenders such as Celsius boomed during the COVID-19 pandemic, drawing depositors with high interest rates and easy access to loans rarely offered by traditional banks. But the lenders' business model came under scrutiny after a sharp sell-off in the crypto market spurred by the collapse of major tokens terraUSD and luna in May 2022. New Jersey-based Celsius froze withdrawals in June 2022, citing "extreme" market conditions, cutting off access to savings for individual investors and sending tremors through the crypto market. The list of major crypto firms that have filed for bankruptcy protection in 2022 now includes Celsius Network, Three Arrows Capital and Voyager Digital. Celsius Network, LLC and its subsidiaries sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Lead Case No. 22-10964) on July 14, 2022. In the petition filed by CEO Alex Mashinsky, the Debtors estimated assets and liabilities between $1 billion and $10 billion. The Debtors tapped Kirkland & Ellis, LLP and Kirkland & Ellis International, LLP as bankruptcy counsels; Fischer (FBC & Co.) as special counsel; Centerview Partners, LLC as investment banker; and Alvarez & Marsal North America, LLC as financial advisor. Stretto is the claims agent and administrative advisor. On July 27, 2022, the U.S. Trustee appointed an official committee of unsecured creditors. The committee tapped White & Case, LLP as its bankruptcy counsel; Elementus Inc. as its blockchain forensics advisor; M3 Advisory Partners, LP as its financial advisor; and Perella Weinberg Partners, LP as its investment banker. Shoba Pillay, Esq., is the examiner appointed in the Debtors' Chapter 11 cases. Jenner & Block, LLP and Huron Consulting Services, LLC, serve as the examiner's legal counsel and financial advisor, respectively. * * * On November 9, 2023, the Bankruptcy Court entered the Findings of Fact, Conclusions of Law, and Order Confirming the Modified Joint Chapter 11 Plan of Celsius Network LLC and Its Debtor Affiliates. The Effective Date of the Plan occurred January 31, 2024. CHARLES & COLVARD: Agrees to $1.5MM Asset Sale to Van Lang Jewelry ------------------------------------------------------------------ Charles & Colvard, Ltd. disclosed in a regulatory filing that the Company finalized negotiations of an Asset Purchase Agreement with Van Lang Jewelry LLC or its affiliate Jewelry Design Partners LLC, pursuant to which, subject to the terms and conditions, including approval of the U.S. Bankruptcy Court for the Eastern District of North Carolina, the Buyer agreed to acquire the assets of the Company (except for the Excluded Assets) and assume certain liabilities, for consideration of $1,500,000 (subject to a credit bid and offset against all of the indebtedness owed to the Buyer under the Section 364 Financing Loan Agreement dated March 24, 2026, by and between the Company and the Buyer). "Excluded Assets" means the following assets, properties, interests, and rights of Seller or its Affiliates: (a) all cash and cash equivalents (excluding Accounts Receivable) on hand as of the Closing; (b) any rights, Claims, counterclaims, third party Claims or causes of action of Seller against any Person and any actions under Chapter 5 of the Bankruptcy Code, including, without limitation, under Sections 542, 544, 545, 547, 548, 549, 550, 551, 553 and 724(a) of the Bankruptcy Code; (c) all Actions and/or causes of actions that Seller has brought and/or may bring against any Person relating to any Excluded Asset and/or Excluded Liabilities, including, without limitation, all Actions and/or causes of action that Seller may bring against any current or former director, officer, employee, or consultant; (d) all insurance policies and all rights to proceeds thereunder, including, without limitation, any director or officer insurance policies relating to any matter, event or circumstance occurring on or prior to the Closing Date, except as otherwise provided for in Section 5.10; (e) the residual rights in and proceeds of any employee benefits plans that are not transferred to Seller; (f) all Contracts, Permits, and other assets that require a consent (taking into consideration the provisions of the Bankruptcy Code), to transfer same unless: (i) such written consent is obtained and (ii) Purchaser assumes all post-assignment liabilities arising thereunder, excluding all Cure Payments, if applicable (it being understood that Seller shall not be required to obtain or attempt to obtain any such consent); (g) all executory contracts and unexpired leases of the Debtor that are not identified on Schedule 2.7; (h) all rights or documents relating to any Excluded Liability or other Excluded Asset; (i) any rights or remedies provided to Seller under this Agreement and applicable Law and each other document executed in connection with the Closing; (j) any: (i) personnel files for employees of Seller who are not hired by Purchaser; (ii) other books and records that Seller is required by Law to retain; provided, however, that except as prohibited by Law and subject to Article 5, Purchaser shall have the right, at Purchaser's sole expense, to receive or make copies of any portions of such retained books and records that relate to the Business as conducted before the Closing or that relate to any of the Assets; (iii) documents which Seller is not permitted to transfer pursuant to any contractual obligation owed to any third party; (iv) documents primarily related to any Excluded Assets; and (v) documents necessary to prepare tax returns; (k) all of Seller's deposits and other prepaid charges and expenses paid in connection with or relating to any Excluded Assets; (l) any assets disposed of or consumed in the ordinary course of business (except any disposed of or consumed in breach of the provisions of this Agreement) during the period between the date hereof and the Closing Date; (m) Seller's minute book and similar corporate records; and (n) any Privilege that relates to any Excluded Asset or any Excluded Liability. A former member of the Company's Board of Directors, Duc Pham, who resigned from the Board on March 25, 2026, is a Manager of Jewelry Design Partners LLC. Upon receipt of Bankruptcy Court approval, the Buyer is expected to be designated as the "stalking horse" bidder with respect to the assets to be acquired under the Purchase Agreement in connection with a sale of the Company's assets under section 363 of the Bankruptcy Code. The Transaction will be conducted pursuant to Bankruptcy Court-approved bidding procedures and is subject to: (a) the receipt of a bid that meets the specifications set forth in the Purchase Agreement and that constitutes, in the Company's reasonable judgment, a higher or otherwise better offer from competing bidders, (b) approval of the sale by the Bankruptcy Court, and (c) the satisfaction of certain conditions to closing. The Purchase Agreement contains customary representations, warranties and covenants of the parties for a transaction involving the acquisition of assets from a debtor in bankruptcy, and the completion of the Transaction is subject to a number of conditions, including, among others, the entry of an order of the Bankruptcy Court authorizing and approving the Transaction, the performance by each party of its obligations under the Purchase Agreement, and the accuracy of each party's representations, subject to certain materiality qualifiers. The Purchase Agreement may be terminated by the Buyer or the Sellers under certain circumstances, including, among others, if the Transaction is not closed by July 7, 2026. Subject to Bankruptcy Court approval and in accordance with the terms and conditions set forth in the Purchase Agreement, the Buyer may be entitled to a break-up fee of $45,000 cash consideration, paid by the Company, if the Purchase Agreement is terminated by the Company due to the receipt of a Higher or Better Bid, and the Company consummates, or obtains Bankruptcy Court approval to consummate, a sale of all or substantially all of its assets to another entity. In addition, subject to Bankruptcy Court approval and in accordance with the terms and conditions set forth in the Purchase Agreement, the Company shall reimburse the Buyer for its reasonable, documented, out of pocket fees and expenses incurred in connection with the negotiation, execution, and performance of the Purchase Agreement and participation in the sale process, in an amount not to exceed $45,000, if: (a) the Purchase Agreement is terminated by the Buyer due to: (i) the Buyer's conditions to close having become incapable of fulfillment (other than due to the Buyer's breach of any covenant or agreement contained in the Purchase Agreement) or (ii) the Company's material breach of the representations and warranties, taken as a whole, or of any material covenant or agreement contained in the Purchase Agreement which breach cannot be or has not been cured within 10 business days after the giving of written notice of such breach, or (b) if the Purchase Agreement is terminated by the Company due to: (i) the closing not having occurred by the date following the satisfaction or waiver of all closing conditions by each party thereto, as applicable, (ii) the Bankruptcy Court failing to enter the sale order by July 2, 2026, or (iii) the closing not having occurred by July 7, 2026. A full text copy of the Asset Purchase Agreement is available at https://tinyurl.com/mr2xvzyc About Charles & Colvard Ltd. Charles & Colvard Ltd. is a jewelry manufacturer known for its lab-grown moissanite gemstones. Charles & Colvard Ltd. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.C. Case No. 26-00969 on March 2, 2026. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. Judge David M Warren oversees the case. The Debtor is represented by Rebecca Redwine Grow, Esq. and Jason L. Hendren, Esq. of Hendren Redwine & Malone, PLLC. CHERRY HILL: New Jersey Office Complex Up for Sale -------------------------------------------------- Stalking horse offers are being considered now for the Cherry Hill Office Complex subject to bankruptcy approval. Keen-Summit Capital Partners LLC has been engaged by Salvatore LaMonica, Chapter 11 Trustee of Cherry Hill Portfolio LLC, Debtors, as exclusive advisor for this offering. Cherry Hill Office Complex is a two-building, 189,252+/- SF Class B suburban office campus located at 99 and 119 Cherry Hill Road in Parsippany, Morris County, New Jersey. The property sits on approximately 18.24+/- acres and is accessible via Interstate 80, Route 46, and Interstate 287. Constructed in 1981–1982 and maintained through periodic renovations, the buildings offer flexible floor plates capable of accommodating both small and large office users. The offices are supported by approximately 725 surface parking spaces, equating to roughly 3.8 spaces per 1,000 SF. Property Highlights: * Two-building office complex totaling 189,252+/- SF -- 99 Cherry Hill Road: 92,413 SF on ±8.83 acres -- 119 Cherry Hill Road: 96,839 SF on ±9.41 acres * Zoned: ROL (Research Office Laboratory) * Strategically located within Morris County's premier suburban office corridor * Approximately 30 miles west of Midtown Manhattan, within the Newark-New York metropolitan area Additional info: Keen-CherryHillPortfolio.com Keen-Summit Capital Partners LLC (646) 381-9222 Keen-Summit.com About Cherry Hill Portfolio LLC Cherry Hill Portfolio LLC is a real estate company operating in New York and New Jersey. Cherry Hill Portfolio LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.Y. Case No. 25-43199) on July 2, 2025. In its petition, the Debtor estimated assets and liabilities between $10 million and $50 million. Bankruptcy Judge Jil Mazer-Marino handles the case. The Debtors are represented by Eric H. Horn, Esq. at A.Y. Strauss. CREEKSIDE REAL: Seeks Chapter 11 Bankruptcy in Pennsylvania ----------------------------------------------------------- On April 22, 2026, Creekside Real Estate, LLC filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Western District of Pennsylvania. According to court filings, the debtor reports between $1 million and $10 million in debt owed to 1–49 creditors. About Creekside Real Estate, LLC Creekside Real Estate, LLC is a real estate company focused on property ownership, management, and investment activities. The firm typically engages in acquiring and managing real estate assets, including residential or commercial properties, as part of its portfolio operations. Creekside Real Estate, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-21139) on April 22, 2026. In its petition, the debtor reports estimated assets between $1 million and $10 million and estimated liabilities in the same range. The debtor is represented by Brent J. Lemon, Esq., of Bernstein Burkley. CUMULUS MEDIA: Court Confirms Joint Prepack Chapter 11 Plan ----------------------------------------------------------- Judge Alfredo R. Perez of the U.S. Bankruptcy Court for the Southern District of Texas approved the Disclosure Statement and confirmed the Modified Joint Prepackaged Chapter 11 Plan of Reorganization of Cumulus Media Inc. and Its Debtor Affiliates. The Court finds the Disclosure Statement (a) contains adequate information of a kind generally consistent with the disclosure requirements of applicable non-bankruptcy law; (b) contains "adequate information" (as such term is defined in section 1125(a)(1) and used in section 1126(b)(2) of the Bankruptcy Code) with respect to the Debtors, the Plan, and the transactions contemplated therein; and (c) is approved in all respects. Accordingly, the Disclosure Statement is approved on a final basis as providing Holders of Claims entitled to vote on the Plan with adequate information to make an informed decision as to whether to vote to accept or reject the Plan in accordance with section 1125(a)(1) of the Bankruptcy Code. The Plan and each of its provisions are confirmed pursuant to section 1129 of the Bankruptcy Code. All objections to Confirmation of the Plan or final approval of the Disclosure Statement, and other responses, comments, statements, or reservation of rights, if any, in opposition to the Plan or final approval of the Disclosure Statement have been overruled in their entirety and on the merits to the extent not otherwise adjourned to a subsequent hearing, withdrawn, waived, or otherwise resolved by the Debtors prior to entry of this Confirmation Order, unless otherwise indicated herein. All withdrawn objections, if any, are deemed withdrawn with prejudice. As shared by the Troubled Company Reporter, Cumulus Media Inc. disclosed in a regulatory filing that the Company and certain of its direct and indirect subsidiaries, intend to implement a comprehensive debt restructuring in accordance with a Restructuring Support Agreement and ABL Commitment Letter with its key debtholders. The Restructuring is expected to substantially deleverage the Company's balance sheet by over $592 million through an equitization of a substantial portion of the Company's funded debt and to reduce the Company's annual cash interest expense by approximately $49 million. The Restructuring Support Agreement contemplates effectuating the Restructuring through a joint prepackaged plan of reorganization of the Company Parties in voluntary cases filed on March 4, 2026 pursuant to chapter 11 of title 11 of the United States Code. The Company does not expect any adverse operational impact from the Restructuring and plans to continue to operate and pay vendors and employees in the ordinary course of business as "debtors in possession" under the jurisdiction of the United States Bankruptcy Court for the Southern District of Texas (the "Bankruptcy Court") in accordance with the applicable provisions of the Bankruptcy Code and orders of the Bankruptcy Court. Restructuring Support Agreement and ABL Commitment Letter In furtherance of the contemplated Restructuring, on March 4, 2026, prior to launching the Solicitation and prior to commencing the Chapter 11 Cases, the Company Parties entered into a: (i) restructuring support agreement with an ad hoc group of: (a) certain lenders of the Company's outstanding term loans under that certain Credit Agreement, dated as of May 2, 2024 and (b) certain holders of the Company's 8.00% senior secured first-lien notes due 2029 issued under that certain Indenture, dated as of May 2, 2024 and (ii) that certain commitment letter with Fifth Third Bank, as administrative agent, and the lenders from time to time party to that certain Credit Agreement, dated as of March 6, 2020. Pursuant to the Restructuring Support Agreement, the Consenting 2029 Holders have agreed, subject to certain terms and conditions, to, among other things, support the Plan. The material terms of the Plan are set forth in the Restructuring Term Sheet, which terms, subject to Bankruptcy Court approval, include, among other things: * all existing equity securities of the Company, including the Class A common stock and Class B common stock, shall be cancelled and the holders of such interests will not receive or retain any recovery or distribution; * each holder of a claim under the Existing ABL Credit Facility shall receive its pro rata share of new loans under an amended and restated ABL Credit Agreement; * each holder of a secured claim under the 2029 Credit Agreement and the 2029 Indenture shall receive its pro rata share of: (a) $50 million of newly issued convertible notes and (b) new Class A and Class B common stock issued by the reorganized Company and/or warrants that are exercisable for New Common Stock, which New Common Stock (inclusive of the shares issuable upon the full exercise of the Special Warrants) will constitute, in the aggregate, 95% of the New Common Stock issued on the effective date of the Plan, subject to dilution on account of the 10% of the New Common Stock reserved for the management incentive plan; * each holder of claims under the 2026 Credit Agreement and 2026 Indenture (each, as defined below) and each holder of deficiency claims under the 2029 Credit Agreement and the 2029 Indenture shall receive its pro rata share of the New Common Stock and/or Special Warrants, which New Common Stock (inclusive of the shares issuable upon the full exercise of the Special Warrants) will constitute, in the aggregate, 5% of the New Common Stock issued on the Plan Effective Date, subject to dilution on account of the MIP Equity; * each holder of a general unsecured claim shall be paid in the ordinary course of business in accordance with the terms and conditions of the particular transaction giving rise to its claim; and * certain other holders and creditors will receive treatment as detailed in the Restructuring Term Sheet and the Plan. Commitments In accordance with the Restructuring Support Agreement, each Consenting 2029 Holder agreed, among other things, to: (i) timely take all reasonable actions necessary to support, implement and consummate the Restructuring Transactions and vote in favor of the Plan on a timely basis following commencement of the Solicitation; (ii) use commercially reasonable efforts to cooperate with and assist the Company Parties in obtaining additional support for the Restructuring Transactions from the Company Parties' other stakeholders; (iii) not object to, delay, impede or take any other action to interfere with acceptance, implementation or consummation of the Restructuring Transactions; (iv) give any notice, order, instruction or direction to the applicable agents and trustees, reasonably necessary to give effect to the Restructuring Transactions; and (v) negotiate in good faith and execute and implement certain definitive documents that are consistent with the Restructuring Support Agreement. In accordance with the Restructuring Supporting Agreement, the Company Parties agreed, among other things, to: (i) pursue, cooperate, support and take all steps reasonably necessary and desirable to consummate the Restructuring Transactions in accordance with the Restructuring Support Agreement; (ii) to the extent any legal or structural impediment arises that would prevent, hinder or delay the consummation of the Restructuring Transactions, take all steps reasonably necessary and desirable to address any such impediment; (iii) use commercially reasonable efforts to obtain any and all required regulatory or other third-party approvals for the Restructuring Transactions; (iv) negotiate in good faith and take all steps reasonably necessary to execute and deliver any required agreements to effectuate and consummate the Restructuring Transactions; (v) use commercially reasonable efforts to obtain additional support for the Restructuring Transactions from other stakeholders; (vi) provide counsel for the Consenting 2029 Holders a reasonable opportunity to review draft copies of certain documents that the Company Parties intend to file with Bankruptcy Court; (vii) not object to, delay, impede or take any other action to interfere with acceptance, implementation or consummation of the Restructuring Transactions; and (viii) not modify the Plan, in whole or in part, in a manner that is not consistent with the Restructuring Support Agreement in all material respects. Milestones The Restructuring Support Agreement contains various milestones, or dates by which the Company Parties are required to, among other things, obtain certain orders of the Bankruptcy Court and consummate the Restructuring Transactions, including the following: * the Company Parties shall launch the Solicitation; * by no later than three days after the Petition Date, the Bankruptcy Court shall have entered an order setting the date of the hearing to confirm the Plan and an interim order approving the Company's use of cash collateral; * by no later than 30 days after the Petition Date, the Bankruptcy Court shall have entered an order authorizing and approving the Company's use of cash collateral on a final basis and setting forth the terms and conditions for such use; provided, that this Milestone may be extended by the Company Parties by up to 25 days if the purpose of such extension is solely to align the hearing on the Final Cash Collateral Order with the hearing to consider confirmation of the Plan; * by no later than 55 days after the Petition Date, the Bankruptcy Court shall have entered an order confirming the Plan; and * by no later than 75 days after entry of the Confirmation Order, the Plan Effective Date shall have occurred; provided, that this Milestone may be extended by the Company Parties by up to 120 days solely to the extent the Company Parties have otherwise complied with the Restructuring Support Agreement and the definitive documents and all conditions to the Plan Effective Date have been satisfied other than: (i) the receipt of required regulatory or other governmental approvals and (ii) any conditions that, by their nature, can only be satisfied on the Plan Effective Date. Termination; Amendment The Restructuring Support Agreement may be terminated upon the occurrence of certain events, including: (i) the failure to meet any of the Milestones; (ii) the occurrence of certain material breaches of the terms of the Restructuring Support Agreement; (iii) the mutual agreement of the Company Parties and the Required Consenting 2029 Holders; and (iv) in the case of the Company Parties, if the board of directors, board of managers or such similar governing body of any Company Party determines, after consulting with counsel, that proceeding with any of the Restructuring Transactions would be inconsistent with the exercise of its fiduciary duties or applicable law; provided, that the applicable Company Party provides a customary "fiduciary out" notice to the counsel to the Consenting 2029 Holders within two business days after the date of such determination. The Restructuring Support Agreement shall automatically terminate upon the occurrence of the Plan Effective Date and may be amended with the consent of the Required Consenting 2029 Holders and the Company Parties. Although the Company intends to pursue the Restructuring in accordance with the terms in the Restructuring Support Agreement, there can be no assurance that the Company will be successful in completing a restructuring or any similar transaction on the terms set forth in the Restructuring Support Agreement, on different terms, or at all. A full text copy of the Restructuring Support Agreement is available at https://tinyurl.com/3pr9zysd A copy of the Court's Findings of Fact, Conclusions of Law, and Order dated April 15, 2026, is available at https://urlcurt.com/u?l=bNvLRz from PacerMonitor.com. About Cumulus Media Inc. Cumulus Media is an audio-first media company delivering premium content to a quarter billion people every month -- wherever and whenever they want it. Cumulus Media engages listeners with high quality local programming through 394 owned-and-operated radio stations across 84 markets; delivers nationally-syndicated sports, news, talk, and entertainment programming from iconic brands including the NFL, the NCAA, the Masters, US Soccer, AP News, and the Academy of Country Music Awards, across more than 7,800 affiliated stations through Westwood One, a leading national audio network; and inspires listeners through the Cumulus Podcast Network, an established and influential platform for original podcasts that are smart, entertaining, and thought provoking. Cumulus Media provides advertisers with personal connections, local impact, and national reach through broadcast and on-demand digital, mobile, social, and voice-activated platforms, as well as integrated digital marketing services, powerful influencers, full-service audio solutions, industry leading research and insights, and live event experiences. Cumulus Media Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Texas Case No. 26-90346) on March 5, 2026. In the petition signed by Richard Denning, Executive Vice President, Secretary & General Counsel, the Debtor disclosed up to $10 billion in both assets and liabilities. As of Sept. 30, 2025, the Company had $1,078,217,000 in total assets, $1,135,135,000 in total liabilities. Judge Alfredo R. Perez oversees the case. Lawyers at Paul, Weiss, Rifkind, Wharton & Garrison LLP serve as counsel. Porter Hedges LLP, represents the Debtor as local counsel. The Debtors hired as Alvarez & Marsal North America, LLC as restructuring advisor; Moelis & Company as financial advisor; and Kurtzman Carson Consultants, LLC d/b/a Verita Global as claims, noticing, solicitation & certification agent. D.A.R. CARRIER: Neema Varghese Named Subchapter V Trustee --------------------------------------------------------- The U.S. Trustee for Region 11 appointed Neema Varghese of NV Consulting Services as Subchapter V trustee for D.A.R. Carrier, Inc. Ms. Varghese will be paid an hourly fee of $400 for her services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Ms. Varghese declared that she is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Neema T. Varghese NV Consulting Services 701 Potomac, Ste. 100 Naperville, IL 60565 Tel: (630) 697-4402 Email: nvarghese@nvconsultingservices.com About D.A.R. Carrier Inc. D.A.R. Carrier, Inc., based in Oak Lawn, Illinois, operates as an interstate for-hire freight carrier providing trucking services for general freight under USDOT authority. Founded in 2018, the company operates from 10323 Mayfield Ave, Apt 2D, and runs a small fleet of tractor units serving regional and interstate routes across the United States. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 26-06495) on April 14, 2026, with $1 million to $10 million in assets and liabilities. Artur Rak, president, signed the petition. Judge Nancy A. Peterman presides over the case. Saulius Modestas, Esq., at Modestas Law Offices, P.C. represents the Debtor as bankruptcy counsel. DANLERIE FREIGHT: Case Summary & 20 Largest Unsecured Creditors --------------------------------------------------------------- Debtor: Danlerie Freight Inc. 1616 E. Burnett Street Signal Hill, CA 90755 Business Description: Danlerie Freight Inc. provides freight transportation and trucking services using a fleet of commercial tractors, trucks and leased trailers. The Signal Hill, California-based company operates as a property carrier serving shipping customers that require the movement of general freight and related cargo. Chapter 11 Petition Date: April 27, 2026 Court: United States Bankruptcy Court Central District of California Case No.: 26-14061 Judge: Hon. Sheri Bluebond Debtor's Counsel: Kevin Tang, Esq. TANG & ASSOCIATES 17011 Beach Blvd Suite 900 Huntington Beach, CA 92647 Tel: 714-594-7022 Fax: 714-421-4439 E-mail: kevin@tang-associates.com Total Assets: $466,362 Total Liabilities: $1,338,635 The petition was signed by Juan Ponce Garcia as managing member. A full-text copy of the petition, which includes a list of the Debtor's 20 largest unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/FPOVUXA/Danlerie_Freight_Inc__cacbke-26-14061__0001.0.pdf?mcid=tGE4TAMA DANLERIE FREIGHT: Commences Chapter 11 Bankruptcy in California --------------------------------------------------------------- On April 27, 2026, Danlerie Freight Inc. 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 1–49 creditors. A meeting of creditors under Section 341(a) to be held on May 18, 2026 at 09:30 AM at UST-LA1, TELEPHONIC MEETING. CONFERENCE LINE:1-888-330-1716, PARTICIPANT CODE:4892201. About Danlerie Freight Inc. Danlerie Freight Inc. is a transportation and logistics company engaged in freight hauling and related shipping services. Danlerie Freight Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-14061) on April 27, 2026. In its petition, the Debtor reports estimated assets ranging from $100,001 to $1,000,000 and estimated liabilities ranging from $1 million to $10 million. Honorable Bankruptcy Judge Sheri Bluebond handles the case. The Debtor is represented by Kevin Tang, Esq. of Tang & Associates. DIAMOND6 PRODUCTION: Voluntary Chapter 11 Case Summary ------------------------------------------------------ Debtor: Diamond6 Production LLC 6201 South Loop East Houston, TX 77087 Chapter 11 Petition Date: April 27, 2026 Court: United States Bankruptcy Court Southern District of Texas Case No.: 26-32868 Judge: Hon. Jeffrey P Norman Debtor's Counsel: Reese Baker, Esq. BAKER & ASSOCIATES 950 Echo Ln, Suite 300 Houston TX 77024-2824 Email: courtdocs@bakerassociates.net Estimated Assets: $0 to $50,000 Estimated Liabilities: $1 million to $10 million The petition was signed by Martin Abrahams 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/7MLLN5I/Diamond6_Production_LLC__txsbke-26-32868__0001.0.pdf?mcid=tGE4TAMA DOVETAIL DEVELOPMENT: Case Summary & Three Unsecured Creditors -------------------------------------------------------------- Debtor: Dovetail Development Ltd 26-30767 801 N. Williams St. Paulding, OH 45879 Business Description: Dovetail Development Ltd. is a Paulding, Ohio-based company whose principal asset is located at 801 N. Williams St. in Paulding. Chapter 11 Petition Date: April 8, 2026 Court: United States Bankruptcy Court Northern District of Ohio Case No.: 26-30767 Judge: Hon. John P. Gustafson Debtor's Counsel: Steven L. Diller, Esq. DILLER AND RICE, LLC 124 East Main Street Van Wert, OH 45891 Tel: 419-238-5025 Fax: 419-238-4705 E-mail: Steven@drlawllc.com Kim@drlawllc.com Eric@drlawllc.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Alan W. Griffiths as managing partner. 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/3BQBG6A/Dovetail_Development_Ltd__ohnbke-26-30767__0001.0.pdf?mcid=tGE4TAMA DOVETAIL DEVELOPMENT: Frederic Schwieg Named Subchapter V Trustee ----------------------------------------------------------------- The U.S. Trustee for Regions 3 and 9 appointed Frederic Schwieg, Esq., at Schwieg Law, as Subchapter V trustee for Dovetail Development, Ltd. Mr. Schwieg will be paid an hourly fee of $370 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Schwieg declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Frederic P. Schwieg, Esq. Schwieg Law 2705 Gibson Drive Rocky River, OH 44116-1815 Phone: (440) 499-4506 Email: fschwieg@schwieglaw.com About Dovetail Development Ltd. Dovetail Development Ltd. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ohio Case No. 26-30767) on April 8, 2026, with between $1 million and $10 million in both assets and liabilities. Judge John P. Gustafson presides over the case. Steven L. Diller, Esq., represents the Debtor as legal counsel. EDEN HOME: Section 341(a) Meeting of Creditors on June 1 -------------------------------------------------------- On April 24, 2026, Eden Home Care Services, Inc. commenced a Chapter 11 bankruptcy case in the U.S. Bankruptcy Court for the Eastern District of New York. Court records indicate the Debtor carries between $1 million and $10 million in liabilities owed to approximately 1–49 creditors. A meeting of creditors under Section 341(a) to be held on June 1, 2026 at 01:30 PM at USA Toll-Free (888) 330-1716, USA Caller Paid/International Toll (713) 353-7024, Access Code 6980165. About Eden Home Care Services, Inc. Eden Home Care Services, Inc. is a licensed home care services agency based in Brooklyn, New York. The company provides home care services including companion care, in-home care, nurse aide services, nursing services, medication care, physical therapy, nutrition counseling, respiratory therapy, occupational therapy, assistance with daily living activities, and private duty nursing. It serves the New York City and Long Island regions and collaborates with physicians, hospitals, and family members to create customized care plans. Eden Home Care Services, Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-41991) on April 24, 2026. The petition lists estimated assets between $100,001 and $1,000,000 and liabilities between $1 million and $10 million. Honorable Bankruptcy Judge Elizabeth S. Stong is presiding over the case. The Debtor is represented by Donna Este-Green, Esq. ELECTRONIC SYSTEM: Joseph Cotterman Named Subchapter V Trustee -------------------------------------------------------------- The U.S. Trustee for Region 14 appointed Joseph Cotterman as Subchapter V trustee for Electronic System Sales, LLC. Mr. Cotterman will be paid an hourly fee of $500 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Cotterman declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Joseph E. Cotterman 5232 W. Oraibi Drive Glendale, AZ 85308 Telephone: 480-353-0540 Email: cottermail@cox.net About Electronic System Sales LLC Electronic System Sales, LLC, doing business as Dish Tech, ASA Party Rentals AZ, and Hero Party Rentals AZ, operates in Prescott Valley, Arizona, where it sells and installs DISH satellite television and related internet services and rents party equipment for residential and commercial events. The company offers items including bounce houses, tents, canopies, tables, and chairs. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Ariz. Case No. 26-03456) on April 9, 2026, with $140,763 in assets and $1,935,157 in liabilities. Michael Oberan, member and chief executive officer, signed the petition. Eli Enger, Esq., at Udall Shumway, PLC represents the Debtor as legal counsel. ELETSON HOLDINGS: Reed Smith Named in Gas Ownership Fight --------------------------------------------------------- Caroline Simson of Law360 reports that a $262 million lawsuit has been filed against Reed Smith LLP and two of its partners in connection with a contentious dispute over control of an international gas shipping company, following the collapse of a $102 million arbitral award that was vacated due to fraud. According to the claims, the law firm played a role in matters surrounding the arbitration, the outcome of which was later invalidated, leaving unresolved disputes over ownership and related claims. The plaintiffs are seeking damages tied to the alleged misconduct and its aftermath, asserting that the firm's involvement exacerbated the dispute and contributed to significant financial losses, the report states. About Eletson Holdings Eletson Holdings Inc. is a family-owned international shipping company, which touts itself as having a global presence with headquarters in Piraeus, Greece as well as offices in Stamford, Connecticut, and London. At one time, Eletson claimed to own and operate one of the world's largest fleets of medium and long-range product tankers and boasted a fleet consisting of 17 double hull tankers with a combined capacity of 1,366,497 dwt, 5 LPG/NH3 carriers with a combined capacity of 174,730 cbm and 9 LEG carriers with capacity of 108,000 cbm. Eletson Holdings, a Liberian company, is Eletson's ultimate parent company and is the direct parent and owner of 100% of the equity interests in the two other debtors, Eletson Finance (US) LLC, and Agathonissos Finance LLC. Eletson and its two affiliates were subject to involuntary Chapter 7 bankruptcy petitions (Bankr. S.D.N.Y. Case No. 23-10322) filed on March 7, 2023 by creditors Pach Shemen LLC, VR Global Partners,L.P. and Alpine Partners (BVI), L.P. The petitioning creditors are represented by Kyle J. Ortiz, Esq., at Togut, Segal & Segal, LLP. On Sept. 25, 2023, the Chapter 7 cases were converted to Chapter 11 cases. The Honorable John P. Mastando, III is the case judge. Lawyers at Reed Smith represent the Debtors as bankruptcy counsel. Riveron RTS served as the Debtors' Domestic Financial Advisor; Harold Furchtgott-Roth as Economic Expert; and Kurtzman Carson as Voting Agent. The U.S. Trustee for Region 2 appointed an official committee of unsecured creditors. The committee tapped Dechert, LLP as its legal counsel and FTI Consulting as the Committee's financial advisors. ENVERIC BIOSCIENCES: Closes Up To $13.9 Million Private Placement ----------------------------------------------------------------- Enveric Biosciences, Inc. disclosed in a regulatory filing that it entered into a Securities Purchase Agreement with institutional investors, pursuant to which the Company agreed to issue and sell to the Investors in a Private Placement: (i) 98,000 shares of the Company's common stock, par value $0.01 per share, (ii) pre-funded warrants to purchase up to an aggregate of 2,124,223 shares of Common Stock, (iii) Series I warrants to purchase up to 2,222,223 shares of Common Stock, and (iv) Series J warrants to purchase up to 2,222,223 shares of Common Stock. The Warrants have an exercise price of $2.00 per share (subject to customary adjustments as set forth in the Warrants) and are exercisable immediately. The Series I Warrants will expire five (5) years following the effective date of the Resale Registration Statement, and the Series J Warrants will expire eighteen (18) months following the effective date of the Resale Registration Statement. The Warrants contain customary anti-dilution adjustments to the exercise price, including for share splits, share dividends, rights offering and pro rata distributions. A holder of a Warrant will not have the right to exercise any portion of its warrants if the holder, together with its affiliates, would beneficially own in excess of 4.99% (or 9.99% at the election of the holder prior to the date of issuance) of the number of shares of Common Stock outstanding immediately after giving effect to such exercise; provided, however, that upon 61 days' prior notice to the Company, the holder may increase or decrease the Beneficial Ownership Limitation, provided that in no event shall the Beneficial Ownership Limitation exceed 9.99%. The Pre-Funded Warrants are immediately exercisable and may be exercised at a nominal exercise price of $0.0001 per share of Common Stock at any time until all of the Pre-Funded Warrants are exercised in full. A holder may not exercise any portion of the Pre-Funded Warrants to the extent the holder would exceed the Beneficial Ownership Limitation. A holder may increase or decrease this percentage with respect to Pre-Funded Warrants to a percentage not in excess of 9.99%, except that any such increase shall require at least 61 days' prior notice to the Company. In the Purchase Agreement, Enveric agreed not to issue, enter into any agreement to issue or announce the issuance or proposed issuance of any shares of Common Stock or any securities convertible into or exercisable or exchangeable for Common Stock for a period of 30 days following the earliest of: (i) the effective date of the registration statement covering the resale of the "Registrable Securities" as defined in the Registration Rights Agreement; (ii) the date the Shares and Warrant Shares have been sold pursuant to Rule 144; (iii) the one-year anniversary of the closing date; or (iv) the date all of the Shares and Warrant Shares are sold pursuant to an exemption from registration under Section 4(a)(1) of the Securities Act of 1933, as amended. H.C. Wainwright & Co., LLC acted as the exclusive placement agent in connection with the Private Placement under an Engagement Letter, dated as of December 8, 2024, as amended on January 14, 2025, June 5, 2025, November 10, 2025, and December 16, 2025. Pursuant to the Engagement Letter, the Company agreed to pay the Placement Agent a cash fee of 7.0% of the aggregate gross proceeds raised in the Private Placement, plus a management fee equal to 1.0% of the gross proceeds raised in the Private Placement and reimbursement of certain expenses and legal fees. The Company also issued warrants to designees of the Placement Agent to purchase up to 7.0% of the aggregate number of shares of Common Stock placed in the Private Placement, equating to 155,556 shares of Common Stock (the "Placement Agent Warrant Shares"). The Placement Agent Warrants have substantially the same terms as the Series I Warrants, except that the Placement Agent Warrants have an exercise price equal to $2.8125 per share. The Company agreed to indemnify the Placement Agent against certain liabilities relating to or arising out of the Placement Agent's activities under the Engagement Letter and to contribute to payments that the Placement Agent may be required to make in respect of such liabilities. In connection with the Private Placement, the Company also entered into a Registration Rights Agreement, dated as of April 16, 2026, with each Investor, pursuant to which the Company agreed to prepare and file a registration statement with the Securities and Exchange Commission registering the resale of Shares, Pre-Funded Warrant Shares, and Warrant Shares, no later than 15 days after the date of the Registration Rights Agreement, and to use best efforts to have the registration statement declared effective as promptly as practical thereafter, and in any event no later than 45 days following the date of the Registration Rights Agreement (or 75 days following the date of the Registration Rights Agreement in the event of a "full review" by the Securities and Exchange Commission). The Private Placement closed on April 17, 2026. The gross proceeds to the Company from the Private Placement are expected to be approximately $5 million, before deducting placement agent fees and expenses and estimated offering expenses payable by the Company, with the potential for up to approximately $8.9 million of additional aggregate gross proceeds upon the exercise in full of the Warrants. The Company intends to use the net proceeds received from the Private Placement for product development, working capital and general corporate purposes. The full text copies of the form of the Purchase Agreement, the form of the Pre-Funded Warrant, the form of the Series I Warrants, the form of the Series J Warrants, the form of the Placement Agent Warrants, and the form of the Registration Rights Agreement, are available at https://tinyurl.com/4vna4tba, https://tinyurl.com/y3ttt9y7, https://tinyurl.com/mr3k83ya, https://tinyurl.com/35aam3ss, https://tinyurl.com/nhb44jkc and https://tinyurl.com/3j25u2mv, respectively. About Enveric Biosciences Enveric Biosciences, Inc., develops small-molecule neuroplastogenic therapeutics for psychiatric and neurological disorders. The company's lead program, EB-003, is designed to selectively target 5-HT2A and 5-HT1B receptors with the goal of providing fast-acting, durable antidepressant and anxiolytic effects without hallucinogenic properties. EB-003 has completed short-term dose-range toxicology studies and is advancing toward IND-enabling, GLP-compliant safety pharmacology and longer-term toxicology trials, forming the basis for potential clinical development in depression and other neuropsychiatric indications. The Cambridge, Massachusetts-based biotech company had total assets of $5.09 million, current liabilities of $918,400, and shareholders' equity of $4.18 million at year-end Dec. 31, 2025. CBIZ CPAs P.C., issued a "going concern" qualification in its report dated March 27, 2026, citing the company's significant losses and need to raise additional funds to meet its obligations and sustain its operations, which conditions raise substantial doubt about the company's ability to continue as a going concern. EVERY BLOOMING: Kevin Neiman Named Subchapter V Trustee ------------------------------------------------------- The Acting U.S. Trustee for Region 19 appointed Kevin Neiman as Subchapter V trustee for Every Blooming Thing, LLC. Mr. Neiman will be paid an hourly fee of $375 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Neiman declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Kevin S. Neiman PO Box 100455 Denver, CO 80250 Tel: (303) 996-8637 Fax: (877) 611-6839 Email: trustee@ksnpc.com About Every Blooming Thing LLC Every Blooming Thing, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Utah Case No. 26-22079) on April 14, 2026, with $100,001 to $500,000 in assets and $500,001 to $1 million in liabilities. Judge Peggy Hunt presides over the case. Andres Diaz, Esq., at Diaz & Larsen represents the Debtor as legal counsel. EZRA MITCHELL: Starts Chapter 7 Bankruptcy in New York ------------------------------------------------------ On April 21, 2026, Ezra Mitchell filed for Chapter 7 protection in the U.S. Bankruptcy Court for the Eastern District of New York. According to court filings, the Debtor reports between $0 and $100,000 in debt owed to 1–49 creditors. About Ezra Mitchell Ezra Mitchell is an individual debtor seeking liquidation relief under Chapter 7 of the U.S. Bankruptcy Code. Ezra Mitchell sought relief under Chapter 7 of the U.S. Bankruptcy Code (Bankr. Case No. 26-41917) on April 21, 2026. In the petition, the Debtor reports estimated assets and liabilities each ranging from $0 to $100,000. Honorable Bankruptcy Judge Elizabeth S. Stong handles the case. FAT BRANDS: Court Sets May 15, 2026 Claims Bar Date --------------------------------------------------- IN THE UNITED STATES BANKRUPTCY COURT FOR THE SOUTHERN DISTRICT OF TEXAS HOUSTON DIVISION In re: FAT BRANDS INC., et al., Debtors. Chapter11 Case No.26-90126(ARP) (Jointly Administered) NOTICE OF DEADLINE FOR THE FILING OF PROOFS OF CLAIM, INCLUDING FOR CLAIMS ASSERTED UNDER SECTION 503(b)(9) OF THE BANKRUPTCY CODE IF YOU BELIEVE YOU HAVE A CLAIM AGAINST THE DEBTORS, YOU MUST FILE YOUR PROOF OF CLAIM ON OR BEFORE THE CLAIMS BAR DATE OF MAY 15, 2026 ,AT 11:59 P.M.(PREVAILING CENTRAL TIME). PLEASE TAKE NOTICE OF THE FOLLOWING: On January 26, 2026 (the "Petition Date"), FAT Brands Inc. and certain of its affiliates (the "Debtors") filed voluntary petitions for relief under chapter 11 of the Bankruptcy Code with the United States Bankruptcy Court for the Southern District of Texas (the "Court"). On April 16, 2026, the Court entered an order the ("Bar Date Order") establishing certain deadlines for the filing of proofs of claim in the Debtors' chapter 11 cases. Pursuant to the Bar Date Order, each person or entity (including, without limitation, each individual, partnership, joint venture, corporation, estate, and trust)that holds or seeks to assert a claim (as defined in section 101(5) of the Bankruptcy Code) against the Debtors that arose, or is deemed to have arisen, prior to the Petition Date(including, without limitation, claims entitled to administrative priority status under section 503(b)(9) of the Bankruptcy Code), no matter how remote or contingent such right to payment or equitable remedy may be, MUST FILE A PROOF OF CLAIM on or before May 15,2026, at 11:59 p.m. (prevailing Central Time) (the "Claims Bar Date"),by sending an original proof of claim form to Omni Agent Solutions,Inc.("Omni"), or by completing the online proof of claim form available at https://omniagentsolutions.com/FATBrands-TwinHospitality-Claims,so that it is actually received on or before the General Bar Date; provided that, solely with respect to governmental units (as defined in section 101(27) of the Bankruptcy Code),the deadline for such governmental units to file a proof of claim against the Debtors is July 27,2026 at 11:59 p.m. (prevailing Central Time)(the "Governmental Bar Date"). Proofs of claim must be sent by overnight mail, courier service, hand delivery, regular mail, or in person, or completed electronically through Omni's website. Proofs of claim sent by facsimile, telecopy, or electronic mail will not be accepted and will not be considered properly or timely filed for any purpose in the Chapter 11 cases. ANY PERSON OR ENTITY THAT IS REQUIRED TO FILE A PROOF OF CLAIM IN THE CHAPTER 11 CASES WITH RESPECT TO A PARTICULAR CLAIM AGAINST THE DEBTORS, BUT THAT FAILS TO DO SO PROPERLY BY THE APPLICABLE BAR DATE, SHALL NOT BE TREATED AS A CREDITOR WITH RESPECT TO SUCH CLAIM FOR PURPOSES OF VOTING AND DISTRIBUTION. A copy of the Bar Date Order and proof of claim form may be obtained by contacting the Debtors' Claims Agent, in writing, at FAT Brands Inc. Claims Processing c/o Omni Agent Solutions, Inc. 5955 De Soto Avenue, Suite 100 Woodland Hills, CA 91367 or online at https://omniagentsolutions.com/FATBrandsTwinHospitality-Claims. The Bar Date Order can also be viewed on the Court's website at https://ecf.txsb.uscourts.gov/. If you have questions concerning the filing or processing of claims, you may contact the Debtors' claims agent, Omni, toll-free at (888) 202-5659 or, if calling from outside the United States or Canada, at(747) 288-6379 or via email at FATBrandsInquiries@OmniAgnt.com. Please note that Omni cannot provide legal advice regarding the filing of a Proof of Claim, and you should consult your own attorney. A complete list of the Debtors in the Chapter 11 Cases and the last four digits of each Debtor's taxpayer identification number (if applicable) may be obtained on the website of the Debtors' claims and noticing agent at https://omniagentsolutions.com/FAT Brands-TwinHospitality. The Debtors' mailing address for purposes of the Chapter 11 Cases is 9720 Wilshire Blvd., Suite 500, Beverly Hills, CA 90212. About Fat Brands, Inc. FAT Brands (NASDAQ: FAT) -- http://www.fatbrands.com/-- is a global franchising company that strategically acquires, markets, and develops fast casual, quick-service, casual dining, and polished casual dining concepts around the world. The company currently owns restaurant brands: Round Table Pizza, Fatburger, Marble Slab Creamery, Johnny Rockets, Fazoli's, Twin Peaks, Great American Cookies, Smokey Bones, Hot Dog on a Stick, Buffalo's Cafe & Express, Hurricane Grill & Wings, Pretzelmaker, Elevation Burger, Native Grill & Wings, Yalla Mediterranean and Ponderosa and Bonanza Steakhouses. FAT Brands franchises and owns over 2,200 units worldwide. Fat Brands Inc. and 181 affiliated debtors sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Texas Lead Case No. 26-90126) on Jan. 26, 2026. In its petition, Fat Brands listed more than $1 billion in both assets and liabilities. Judge Alfredo R. Perez handles the cases. The Debtors tapped Latham & Watkins, LLP as legal counsel, GLC Advisors & Co., LLC as investment banker and Huron Consulting Services, LLC as financial advisor. Omni Agent Solutions, Inc. serves as claims, noticing and solicitation agent. White & Case, LLP, represents the Ad Hoc Group of Securitization Noteholders. Greenberg Traurig, LLP represents UMB Bank, National Association, solely in its capacity as trustee to a certain series of notes. Co-Counsel to the Ad Hoc Group of Twin Peaks Franchisees: Jarrod B. Martin, Esq. Joshua A. Lesser, Esq. BRADLEY ARANT BOULT CUMMINGS LLP 600 Travis, Suite 5600 Houston, TX 77002 Tel: 713-576-0300 E-mail: jbmartin@bradley.com jlesser@bradley.com - and - Mark Franke, Esq. Brandon Batzel, Esq. ORRICK, HERRINGTON & SUTCLIFFE LLP 51 West 52nd Street New York, NY 10019-6142 Tel: 212 506 5000 E-mail: mfranke@orrick.com bbatzel@orrick.com FAT BRANDS: Selects FBG Bid Co. as Highest Bid for Restaurant Sale ------------------------------------------------------------------ The U.S. Bankruptcy Court for the Southern District of Texas, Houston Division, has permitted Fat Brands and its affiliates, to sell substantially all Assets at auction, free and clear of liens, claims, interests, and encumbrances. FAT Brands Inc., Twin Hospitality Group Inc., and their Debtor subsidiaries comprise a leading multi-brand restaurant company that develops, markets, acquires, and manages quick-service, fast casual, casual dining and polished casual dining restaurant concepts around the world. With approximately 7,500 direct full-time and part-time employees, eighteen restaurant brands, and approximately 2,200 locations open or under construction (including over 150 Company-owned restaurants and over 1,900 franchised locations), the Company is one of the largest restaurant companies in the United States by number of locations. The Debtors’ proposed Bidding Procedures contemplate, among other things, the following timeline with a Bid Deadline of April 24, 2026, and closing of any sales by May 4, 2026. https://urlcurt.com/u?l=ECvE5i The Debtors believe the Bidding Procedures summarized below are fair and appropriate and will enable the Debtors to maximize value while providing parties in interest with a level playing field with respect to negotiations for the purchase of the Assets. On April 9, 2026, the Court entered an order approving the Bidding Procedures for the sale of the Debtors' Assets. On April 27, 2026, pursuant to the Bidding Procedures Order, the Debtors conducted an Auction of the Assets. The Debtors, in consultation with their professionals and the Consultation Parties, selected FBG Bid Co. as the successful bidder for the sale of substantially all of the Debtors' assets, excluding those assets related to the Debtors' Twin Peaks, Hot Dog on a Stick, and Elevation Burger restaurant brands and including, without limitation, the Round Table Assets. The Debtors and the Successful Bidder are currently finalizing an asset purchase agreement. Additionally, at the conclusion of the Auction, the Debtors selected DC Restaurant Group, LLC, as the backup bidder for a sale of the Debtors' assets related to the Debtors’ Round Table Pizza restaurant brand The Debtors and the Backup Bidder are currently negotiating an asset purchase agreement that may be relevant if the Debtors and the Successful Bidder decide not to consummate a sale with respect to the Round Table Assets. About Fat Brands, Inc. FAT Brands (NASDAQ: FAT) "http://www.fatbrands.com/"is a global franchising company that strategically acquires, markets, and develops fast casual, quick-service, casual dining, and polished casual dining concepts around the world. The company currently owns restaurant brands: Round Table Pizza, Fatburger, Marble Slab Creamery, Johnny Rockets, Fazoli's, Twin Peaks, Great American Cookies, Smokey Bones, Hot Dog on a Stick, Buffalo's Cafe & Express, Hurricane Grill & Wings, Pretzelmaker, Elevation Burger, Native Grill & Wings, Yalla Mediterranean and Ponderosa and Bonanza Steakhouses. FAT Brands franchises and owns over 2,200 units worldwide. Fat Brands Inc. and 181 affiliated debtors sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Texas Lead Case No. 26-90126) on Jan. 26, 2026. In its petition, Fat Brands listed more than $1 billion in both assets and liabilities. Judge Alfredo R. Perez handles the cases. The Debtors tapped Latham & Watkins, LLP as legal counsel, GLC Advisors & Co., LLC as investment banker and Huron Consulting Services, LLC as financial advisor. Omni Agent Solutions, Inc. serves as claims, noticing and solicitation agent. White & Case, LLP, represents the Ad Hoc Group of Securitization Noteholders. Greenberg Traurig, LLP represents UMB Bank, National Association, solely in its capacity as trustee to a certain series of notes. Co-Counsel to the Ad Hoc Group of Twin Peaks Franchisees are Jarrod B. Martin, Esq., and Joshua A. Lesser, Esq., at BRADLEY ARANT BOULT CUMMINGS LLP, in Houston, Texas; and Mark Franke, Esq., and Brandon Batzel, Esq., at ORRICK, HERRINGTON & SUTCLIFFE LLP, in New York. FLOAT ALASKA: Claims to be Paid from Asset Sale Proceeds -------------------------------------------------------- FLOAT Alaska LLC, and affiliates filed with the U.S. Bankruptcy Court for the District of Delaware a Combined Disclosure Statement and Chapter 11 Plan dated April 20, 2026. The Debtors historically operated as a regional airline out of Anchorage, Alaska after successfully bidding on the stock of Corvus Airlines Inc. d/b/a Ravn Alaska in the Ravn Air Group chapter 11 cases. In 2024, the Debtors shifted their business plan to operating charter flights and, in August 2024, entered into an exclusive agreement with Elevate Aviation Group's Private Jet Services to fly six NHL teams and additional ad hoc charter services. As of the Petition Date, the Debtors had ceased operating, terminated most of their workforce, and were focused on selling all or substantially all their remaining assets pursuant to section 363 of the Bankruptcy Code. The Debtors filed the chapter 11 cases to sell substantially all their assets free and clear of liabilities under section 363 of the Bankruptcy Code. As of the Petition Date, the Debtors' assets consisted primarily of (a) three Boeing 757 aircraft (two aircraft with engines and one airframe), (b) various aircraft spare parts and equipment, (c) the FAA Certificate and DOT Certificate, both issued to Debtor NPA, (d) the Domain Name, and (e) ownership interests in Aleutian Airways LLC. On January 28, 2026, the Debtors filed the Sale Motion seeking, among other things, approval of the sale(s) of their assets free and clear of all Liens, claims, encumbrances and other interests. On March 27, 2026, the Bankruptcy Court entered the Omnibus Sale Order approving the sales to Elevate Aviation Group, LLC, AMTRA Aero Component Solutions, LLC, and Jones Holding LLC. On April [], 2026, the Bankruptcy Court entered the Wexford Sale Order. The sales to the Purchasers closed on the following dates: (i) AMTRA Aero Component Solutions, LLC closed on April 10, 2026; (ii) Wexford Capital, LP closed on April [], 2026; (iii) Jones Holding LLC closed on April [], 2026; and (iv) Elevate Aviation Group, LLC closed on [], 2026. In accordance with the Sale Orders, the Debtors will apply the net cash proceeds of the sales as follows: (a) the net cash proceeds from the sale of the aircraft spare parts to Wexford Capital, LP shall be applied first to satisfy the outstanding DIP Term Loans and second, the remaining proceeds shall be applied to the Roll Up Loans; (b) $4,907,500 of the cash proceeds from the Sales of the aircraft and accompanying engines and airframe will be applied to reduce the outstanding obligations under the Aircraft Prepetition Loans; and (c) $7,000,000 of the cash proceeds from the sales will be held by the Debtors in a segregated account, which will constitute the Prepetition Lender's cash collateral and will not be used by the Debtors or the Estates without further order of the Bankruptcy Court. Following the sales of the Debtors' physical assets to the Purchasers, the Debtors have focused on liquidating the remaining assets and maximizing value for the Reorganization Assets. The Debtors' remaining Assets are the cash proceeds from the Sales, Causes of Action, the Domain Name and the FlyCoin token platform. The Plan Sponsor will make the Plan Sponsor Contribution in exchange for the New Equity Interests of Reorganized NPA. The Debtors' remaining Assets and the Plan Sponsor Contribution will then be distributed to Holders of Allowed Claims in accordance with the terms of this Plan. Class 5 consists of Convenience Claims. Except to the extent that the Holder of an Allowed Convenience Claim agrees to less favorable treatment, each Holder of an Allowed Convenience Claim will receive, on the Effective Date or as soon as reasonably practicable thereof, in full and final satisfaction, and release of and in exchange for its Allowed Convenience Claim an amount of Cash equal to []% of such Allowed Convenience Claim. Class 5 initially shall consist of all General Unsecured Claims that total $5,000 or less. Payment to a Holder of an Allowed Convenience Claim is in lieu of any treatment as a Holder of a General Unsecured Claim in Class 6. Any unsecured creditor with a General Unsecured Claim that is above $5,000 electing treatment as a Convenience Claim must affirmatively do so on its Class 6 Ballot. Class 6 consists of General Unsecured Claims. Except to the extent that the Holder of an Allowed Claim in Class 6 agrees to less favorable treatment, each Holder of an Allowed Claim in Class 6 shall receive, in full and final satisfaction, settlement, and release of and in exchange for its Allowed Class 6 Claim, and subject to the Committee DIP Resolution, its Pro Rata Share of 100% of the General Unsecured Claim Trust Interests. Class 8 consists of Equity Interests. On the Effective Date, all Existing Equity Interests shall be deemed canceled, extinguished and discharged and of no further force or effect, and each Holder of an Existing Equity Interest in the Debtors shall receive no Distribution pursuant to the Plan. This Plan is a joint chapter 11 plan for each of the Debtors, with the Plan for each Debtor being non-severable and mutually dependent on the Plan for each other Debtor, except to the extent the Debtors elect to sever one or more Debtors from this Plan. On or substantially contemporaneously with the Effective Date, the Liquidating Trust Agreement shall be executed, and all other necessary steps shall be taken to establish the Liquidating Trust to hold the Liquidating Trust Assets, which shall be for the benefit of the Liquidating Trust Beneficiaries. Section 10.3 of this Plan sets forth certain rights, duties, and obligations of the Liquidating Trustee. In the event of any conflict between the terms of section 10.3 of this Plan and the terms of the Liquidating Trust Agreement, unless otherwise specified in this Plan, the terms of the Liquidating Trust Agreement shall govern. Upon the occurrence of the Effective Date, the Liquidating Trust Assets shall be transferred to the Liquidating Trust in accordance with the Plan. The Liquidating Trust Assets shall vest in the Liquidating Trust free and clear of all Liens, claims, and interests. Upon transfer of the Liquidating Trust Assets, the Debtors shall have no further duties or responsibilities in connection with the implementation of this Plan. On or before the Effective Date, the Plan Sponsor shall provide the Plan Sponsor Contribution to the Debtors in exchange for 100% of the New Equity Interests. A full-text copy of the Combined Disclosure Statement and Plan dated April 20, 2026 is available at https://urlcurt.com/u?l=CGWtd0 from PacerMonitor.com at no charge. Counsel to the Debtors: Paige N. Topper, Esq. Nicholas Smargiass, Esq. SAUL EWING LLP 1201 North Market Street Suite 2300 Wilmington, DE 19801-1125 Tel: 302-421-6800 Email: paige.topper@saul.com nicholas.smargiassi@saul.com - and - Zev M. Shechtman, Esq. 1888 Century Park East, Suite 1500 Los Angeles, CA 90067 Phone: (310) 255-6100 Email: zev.shechtman@saul.com About FLOAT Alaska LLC FLOAT Alaska LLC is the parent company of New Pacific Airlines and Ravn Alaska. The entity was formed in July 2020 and is engaged in aviation industry ventures that historically included scheduled air service, charter operations and regional connectivity in Alaska and beyond. FLOAT Alaska LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 26-10075) on January 26, 2026. In its petition, the Debtor reports estimated assets between $1 million and $10 million and estimated liabilities between $10 million and $50 million. Honorable Bankruptcy Judge Craig T. Goldblatt handles the case. The Debtor is represented by Paige Noelle Topper, Esq. of Saul Ewing LLP. FOUR SEASONS: James LaMontagne Named Subchapter V Trustee --------------------------------------------------------- The U.S. Trustee for Region 1 appointed James LaMontagne of Sheehan Phinney Bass & Green as Subchapter V trustee for Four Seasons Outdoor Services, LLC. Mr. LaMontagne will be paid an hourly fee of $475 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. LaMontagne declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: James S. LaMontagne, Esq. Sheehan Phinney Bass & Green 75 Portsmouth Boulevard, Suite 110 Portsmouth, NH 03801 Phone: (603) 627-8102 jlamontagne@sheehan.com About Four Seasons Outdoor Services Four Seasons Outdoor Services, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.N.H. Case No. 26-10317) on April 11, 2026, listing up to $10 million in both assets and liabilities. Ryan Borden, Esq., at Ford, McDonald & Borden, PA represents the Debtor as counsel. FREEDOM FOREVER: To Appoint Kroll as Claims and Noticing Agent -------------------------------------------------------------- Freedom Forever LLC seeks approval from the U.S. Bankruptcy Court for the District of Delaware to appoint Kroll Restructuring Administration LLC as claims and noticing agent in its Chapter 11 case. Kroll will provide these services: (a) prepare and serve required notices and documents in this chapter 11 case in accordance with the Bankruptcy Code and the Bankruptcy Rules; (b) maintain an official copy of the Debtor's schedules of assets and liabilities and statements of financial affairs; (c) maintain lists of creditors, equity holders, and parties-in-interest and update such lists; (d) furnish notice to creditors of deadlines for filing proofs of claim and provide claim forms; (e) maintain a post office box or address for receiving claims and returned mail; (f) prepare and file affidavits or certificates of service for all notices and pleadings; (g) process all proofs of claim received and maintain them securely; (h) maintain the official claims register and provide access to it; (i) implement security measures to ensure integrity of the claims register; (j) record transfers of claims and provide related notices; (k) monitor the Court's docket and update records and mailing lists; and (l) assist in disseminating information to the public, including maintaining a case website or call center. Kroll's fees and expenses will be treated as administrative expenses and paid in the ordinary course without further Court approval. The Debtor has agreed to provide Kroll an advance of $50,000, which Kroll will hold as security for payment of fees and expenses. Kroll Restructuring Administration LLC is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code and does not hold or represent any interest materially adverse to the Debtor's estate, according to court filings. The firm can be reached at: Kroll Restructuring Administration LLC 1 World Trade Center, 31st Floor New York, NY 10007 About Freedom Forever LLC Freedom Forever LLC is a Temecula, California-based residential solar installation company that serves homeowners in more than 30 states. It operates as an engineering, procurement and construction platform, providing solar panel installation, energy storage and financing services through employees and independent authorized dealers. The company also offers proprietary software that supports project visibility, permitting and customer transparency. Freedom Forever LLC sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Del. Case No. 26-10522) on April 15, 2026. At the time of the filing, Debtor had estimated assets of between $100,000,001 to $500 million and liabilities of between $500,000,001 to $1 billion. Judge Brendan Linehan Shannon oversees the case. MORRIS, NICHOLS, ARSHT & TUNNELL LLP is Debtor's legal counsel. FREIGHT SHERPAS: Matthew Brash Named Subchapter V Trustee --------------------------------------------------------- The U.S. Trustee for Region 11 appointed Matthew Brash of Newpoint Advisors Corporation as Subchapter V trustee for Freight Sherpas, Inc. Mr. Brash will be paid an hourly fee of $450 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Brash declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Matthew Brash Newpoint Advisors Corporation 655 Deerfield Road, Suite 100-311 Deerfield, IL 60015 Tel: (847) 404-7845 About Freight Sherpas Inc. Freight Sherpas, Inc. sought protection under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Ill., Case No. 26-06328) on April 10, 2026. At the time of the filing, the Debtor had estimated assets of between $50,001 and $100,000 and liabilities of between $500,001 and $1 million. The Law Offices of David Freydin, LTD is the Debtor's bankruptcy counsel. FRESHREALM INC: Case Summary & 30 Largest Unsecured Creditors ------------------------------------------------------------- Lead Debtor: FreshRealm, Inc. f/k/a FreshRealm LLC 901 W Linden Ave. Linden, NJ 07036 Business Description: FreshRealm, Inc. and its affiliated companies operate a food development, manufacturing and fulfillment business founded in 2013 and spun off as independent companies in 2021. The company's principal assets and place of business are located in Linden, New Jersey, with additional operating facilities primarily in Lancaster, Texas, and Tracy, California. FreshRealm provides meal kit and prepared meal manufacturing, fulfillment, packing, and shipping services for direct-to-consumer, grocery, performance, lifestyle, and medically focused channels. Its customers include Blue Apron, LLC and MMM Consumer Brands, Inc., known as Marley Spoon. Chapter 11 Petition Date: April 27, 2026 Court: United States Bankruptcy Court District of New Jersey Five affiliates that concurrently filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code: Debtor Case No. ------ -------- FreshRealm, Inc. (Lead Case) 26-14656 FreshRealm Holdings, Inc. 26-14658 IHEC, LLC 26-14663 FreshRealm HR, LLC 26-14659 FreshRealm Texas, LLC 26-14662 Judge: Hon. Mark Edward Hall Debtors' Restructuring & Bankruptcy Counsel: Michael D. Sirota, Esq. Warren A. Usatine, Esq. Ryan T. Jareck, Esq. Daniel J. Harris, Esq. Matteo Percontino, Esq. COLE SCHOTZ P.C. Court Plaza North, 25 Main Street Hackensack, New Jersey 07601 Tel: (201) 489-3000 E-mail: msirota@coleschotz.com wusatine@coleschotz.com rjareck@coleschotz.com dharris@coleschotz.com mpercontino@coleschotz.com Debtors' Financial Restructuring Adviser: ALVAREZ & MARSAL NORTH AMERICA, LLC Debtors' Investment Banker: ROTHSCHILD & CO. Debtors' Notice, Claims, Solicitation, Balloting & Administrative Agent: KROLL RESTRUCTURING ADMINISTRATION LLC Estimated Assets: $100 million to $500 million Estimated Liabilities: $100 million to $500 million The petitions were signed by Bryan Fleming as chief financial officer. A full-text copy of the Lead Debtor's petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/F5JKUFA/FreshRealm_Inc__njbke- 26-14656__0001.0.pdf?mcid=tGE4TAMA Consolidated List of Debtors' 30 Largest Unsecured Creditors: Entity Nature of Claim Claim Amount 1. FedEx Trade Payable $7,208,754 942 Shady Grove Rd S Memphis, TN 38120 United States Gina Adams Executive Vice President Email: gfadams@fedex.com Phone: 202-237-0121 2. Bristlecone Incorporated Trade Payable $3,084,327 10 Almaden Blvd San Jose, CA 95113 United States Rajesh Kalra Vice President Email: rajesh.kalra@bristlecone.com Phone: 408-571-8733 3. Lasership Inc Trade Payable $2,453,978 AKA OnTrac Logistics, Inc. 1912 Woodford Rd #2 Vienna, VA 22182 United States Jason Peel, CFO Email: jpeel@lasership.com Phone: 925-766-7229 4. Elevated Resources, Inc. Trade Payable $2,342,948 3990 Westerly Place, Suite 270 Newport Beach, CA 92660 United States Rob Morris, CEO & Founder Email: rmorris@elevatesaas.com Phone: 949-584-7760 5. Elberta Logistics Trade Payable $2,027,883 International LLC 1682 Metropolitan Circle Tallahassee, FL 32308 United State Michael Crosby, COO Email: michael.crosby@elberta.net Phone: 912-660-8059 6. Ocean Enterprises, LLC Trade Payable $1,041,300 700 E. Ogden Ave. Westmont, IL 60559 United States Kelly Arora, Director Email: karora@oneworldventures.com Phone: 716-316-4038 7. Total Quality Logistics LLC Trade Payable $943,202 4270 Ivy Pointe Blvd. Cincinnati, OH 45245 United States Kerry Byrne, President Email: kbyrne@tql.com Phone: 513-321-7222 8. Prologis LP Trade Payable $881,351 One Meadowlands Plaza Suite 100 East Rutherford, NJ 07073 United States Carter Andrus, COO Email: candrus@prologis.com Phone: 847-292-3901 9. Polsinelli PC Trade Payable $871,820 900 W 48th Place Suite 900 Kansas City, MO 64112 United States Rick Jordan, Co-Chair Email: rjordan@polsinelli.com Phone: 435-731-5605 10. Dayforce US, Inc Trade Payable $843,523 3311 East Old Shakopee Road Suite 400 Minneapolis, MN 55425-1640 United States David Ossip CEO & Founder Email: david.ossip@ceridian.com Phone: 416-402-0415 11. PSEG Trade Payable $781,072 80 Park Pl Newark, NJ 07102 United States Scott Jennings, COO Email: scott.jennings@psegliny.com Phone: 914-830-2469 12. Emmi Roth USA Inc Trade Payable $763,572 1800 Williams Dr. Stoughton, WI 53589 United States Nate Kieper Vice President of Finance Email: nate.kieper@emmirothusa.com Phone: 715-675-3311 13. RR Donnelley Trade Payable $684,652 227 W Monroe Street Chicago, IL 60606 United States Thomas J. Quinlan, III, CEO Email: tom.quinlan@rrdonnelley.com Phone: 845-674-6097 14. Pelton Shepherd Trade Payable $650,000 Industries Inc. 3120 W. March Lane Stockton, CA 95219 United States Tim Shepherd, CEO Email: tim@peltonshepherd.com Phone: 209-712-5569 15. IEH Laboratories and Trade Payable $626,019 Consulting Group 15300 Bothell Way NE Lake Forest Park, WA 98155 United States David Crowe, Counsel Email: dcrowe@iehinc.com Phone: 206-522-5432 16. BM2 Freight Services, Inc. Trade Payable $625,147 50 E Rivercenter Blvd Suite 525 Covington, KY 41011 United States Jeff Mason, Principal Email: jmason@bm2freight.com Phone: 949-375-7069 17. The Jam Stand LLC Trade Payable $620,677 5 East Stow Road Marlton, NJ 08053 United States Sabrina Valle, Co-Founder Email: sabrina@mighty-picnic.com Phone: 917-880-7612 18. Armanino Foods of Trade Payable $571,930 Distinction Inc 30588 San Antonio Street Hayward, CA 94544 United States Deanna Jurgens President & CEO Email: djurgens@armaninofoods.com Phone: 479-616-0477 19. Arma Container Corp Trade Payable $556,483 65 N Industry Ct. Deer Park, NY 11729 United States Bruce Margolis, President Email: bmargolis@armacontainer.com Phone: 631-724-7570 20. Noordzee USA LLC Trade Payable $506,627 15333 Culver Drive Suite 340 #136 Irvine, CA 92604 United States Rein Kramer, CEO Email: rkramer@noordzeeinternational.com Phone: +31 6 57310644 21. Calabro Cheese Corporation Trade Payable $474,181 580 Coe Avenue East Haven, CT 06512 United States Christopher Klemensowicz, CEO Email: christopher.klemensowicz@calabrocheese.com Phone: 973-751-1754 22. 302 Airport Dr LLC Trade Payable $464,900 325 W Main St Belleville, IL 62220 United States Greg Lorenzo, COO Email: glorenzo@fwresults.com Phone: 716-465-4066 23. Servicemaster A Plus Trade Payable $463,629 Restoration 9960 Indiana Ave Suite 11 Riverside, CA 92503 United States Bobby Moise, President Email: bobby@servicemasteraplus.com Phone: 951-367-5288 24. CSC Leasing Co. Trade Payable $449,525 6802 Paragon Place Richmond, VA 23230 United States John Corey, CEO Email: jcorey@cscleasing.com Phone: 804-673-1000 25. Custom Culinary Inc. Trade Payable $440,284 2505 S. Finley Rd. Lombard, IL 60148 United States Ben Wexler, President Email: bwexler@customculinary.com Phone: 219-689-1324 26. Trident Seafood Corp Trade Payable $386,620 5303 Shilshole Ave Seattle, WA 98107 United States Joseph Bundrant, CEO Email: joeb@tridentseafoods.com Phone: 425-218-7501 27. HelloFresh Indemnification Undetermined 28 Liberty Street Claim 10th Floor New York, NY 10005 United States Adam Kalikow Managing Director Email: adam.kalikow@hellofresh.com Phone: 914-400-9181 28. Blue Apron, LLC Trade Payable Undetermined 28th Liberty St New York, NY 10005 United States Tony Hoggett, COO Email: tony@wonder.com Phone: 512-483-1838 29. Marley Spoon Customer Claim Undetermined 519 8th Ave New York, NY 10018 United States David Guzman, CFO Email: david.guzman@marleyspoon.com Phone: 646-234-1508 30. Nate's Fine Foods Trade Payables Undetermined 8880 Industrial Avenue Roseville, CA 95678 United States Nathan Barker Owner and CEO Email: nate@natesfinefoods.com Phone: 310-897-2690 GENERIC MANUFACTURING: Robert Goe Named Subchapter V Trustee ------------------------------------------------------------ The U.S. Trustee for Region 16 appointed Robert Goe, Esq., a practicing attorney in Irvine, Calif., as Subchapter V trustee for Generic Manufacturing Corporation, Inc. Mr. Goe will be paid an hourly fee of $545 for his services as Subchapter V trustee while his case administrator, Arthur Johnston, will be paid an hourly fee of $195. In addition, the Subchapter V trustee will receive reimbursement for work-related expenses incurred. Mr. Goe declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Robert P. Goe, Esq. 17701 Cowan Building D, Suite 210 Irvine, CA 92614 Telephone: (949) 798-2460 Facsimile: (949) 955-9437 bktrustee@goeforlaw.com About Generic Manufacturing Corporation Inc. Generic Manufacturing Corporation, Inc. manufactures packaging and bottling machinery serving multiple industries globally. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Cal. Case No. 26-12720) on April 8, 2026. In the petition signed by Lonnie Belts, president, the Debtor disclosed up to $500,000 in assets and up to $1 million in liabilities. Judge Scott H. Yun oversees the case. Michael Jay Berger, Esq., at Law Offices of Michael Jay Berger, represents the Debtor as bankruptcy counsel. GLOBAL WOUND: Gets Court Okay to Dispose Patient Records -------------------------------------------------------- IN THE UNITED STATES BANKRUPTCY COURT FOR THE SOUTHERN DISTRICT OF TEXAS HOUSTON DIVSION In re: GLOBAL WOUND CARE MEDICAL GROUP, a Professional Corporation, Debtor and Debtor in Possession. Chapter 11 Case No 24-34908 (CML) NOTICE OF DEBTOR’S MOTION FOR ENTRY OF ORDER AUTHORIZING DEBTOR TO: (1) DISPOSE OF PATIENT RECORDS IN ACCORDANCE WITH 11 U.S.C. Sec. 351; AND (2) OBTAIN RELATED RELIEF The Debtor filed a Motion for Entry of Order Authorizing Debtor to: (1) Dispose Patient Records in Accordance with 11 USC Sec. 351; and (2) Obtain Related Relief (the "Motion"), which the Court granted an April 6, 2026 (the "Order"). Pursuant to the Order, the Debtor is now implementing the Patient Records Disposal Procedures (as defined in the Motion) for patient records, pursuant to Secs. 105(a) and 351 of title 11 of the United States Code (the "Bankruptcy Code"). Specifically, as part of the Patient Records Disposal Procedures, the Debtor is authorized to destroy all of its patient records on of as reasonably practicable after the date (the "Destruction Date") that is fourteen (14) days following the date that is 365 days (the "Waiting Period") from the date of publication of this notice (this "Published Notice"), to the extent that such patient records remain in the possession and/or control of the Debtor after the Waiting Period. Those with rights to the patient records who wish to retrieve such patient records must make arrangements with the Iron Mountain to retrieve them prior to close of the Waiting Period. Iron Mountain may be reached at: Iron Mountain Release of Information, 11333 E 53rd Ave., Denver, CO 80239; DenverR0I@ironmountain.com; Phone: 303-373-5764; Fax: 303-576-6874. A copy of the Motion and Order can be found at https://www.veritaglobal.net/gwc, the website established by the Debtor's claims and noticing agent, Kurtzman Carson Consultants, LLC d/b/a/ Verita Global for the Debtor's chapter 11 case. "Patient Records" are defined in the Bankruptcy Code (as defined herein) as "any record relating to a patient, including a written document or a record recorded in a magnetic, optical, or other form of electronic medium. 11 U.S.C. Sec. 101(408). About Global Wound Care Medical Group Global Wound Care Medical Group sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Texas Case No. 24-34908) on Oct. 21, 2024, with $100 million to $500 million in both assets and liabilities. Owen B. Ellington, M.D., president of Global Wound Care Medical Group, signed the petition. Judge Eduardo V. Rodriguez oversees the case. Casey W. Doherty, Jr., Esq., at Dentons US, LLP serves as the Debtor's legal counsel while Verita Global serves as notice, claims and balloting agent. Suzanne Richards is the patient care ombudsman appointed in the Debtor's case. GOOD VIBRATIONS INK: Gets Interim OK to Use Cash Collateral ----------------------------------------------------------- The U.S. Bankruptcy Court for the Middle District of Florida, Orlando Division issued a third interim order authorizing Good Vibrations Ink, LLC to use cash collateral. Under the third interim order, the Debtor is authorized to use cash collateral to pay court-approved expenses, payments to the Subchapter V trustee, and necessary operating expenses listed in the approved budget The Debtor may exceed individual budget items by up to 10%, and any additional spending requires written approval from secured creditors. The Debtor projects total monthly operational expenses of $65,392. The authorization to use the funds remains in effect through May 27, unless the parties jointly request an extension. As part of the adequate protection measures, secured creditors will be granted replacement liens on post-petition cash collateral, which carry the same validity and priority as their pre-petition liens. The Debtor must also comply with all obligations required of a debtor-in-possession, including maintaining insurance coverage on its property in accordance with existing loan and security agreements. The order preserves the rights of all parties to seek further protections or restrictions regarding the use of cash collateral. A continued hearing on the motion is scheduled for May 27. The order is available at https://shorturl.at/kJ2Hy from PacerMonitor.com. About Good Vibrations Ink LLC Good Vibrations Ink, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 26-00193) on Jan. 14, 2026, listing up to $100,000 in assets and up to $1 million in liabilities. Judge Lori V. Vaughan oversees the case. The Debtor tapped Justin M. Luna, Esq., at Latham, Luna, Eden & Beaudine, LLP as counsel and Jack Edwards, CPA, at Duryea & Edwards CPAs LLC as accountant. HOMETOWN CHIROPRACTIC: Gets Interim OK to Use Cash Collateral ------------------------------------------------------------- Hometown Chiropractic, LLC received interim approval from the U.S. Bankruptcy Court for the Middle District of Tennessee to use cash collateral to fund operations. Under the interim order, the Debtor is authorized to use cash collateral through May 27 to pay operating expenses in accordance with an approved budget. The Debtor's cash collateral consists of existing cash, account deposits, cash equivalents, and all receipts and revenues generated after the Chapter 11 filing. Tactic Franchising, LLC asserts a secured claim of about $246,262 in the business' receivables and other assets under a UCC-1 filing. As protection, Tactic Franchising and other potential creditors will be granted replacement liens on the Debtor's post-petition property and proceeds thereof, with the same priority and extent as their pre-bankruptcy liens. Additionally, Hometown Chiropractic is required to maintain a positive balance in its debtor-in-possession account as a condition of using cash collateral. The order is available at https://is.gd/Twtomc from PacerMonitor.com. The next hearing is set for May 27. The deadline for filing objections is on May 22. Hometown Chiropractic's financial distress largely stems from Tactic Franchising's alleged franchise termination and arbitration, which contributed to the collapse of its cash flow. The Debtor also cited heavy reliance on merchant cash advances in 2025, whose aggressive repayment terms worsened liquidity, leaving multiple obligations now deemed unsustainable. About Hometown Chiropractic LLC Hometown Chiropractic, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Tenn. Case No. 26-01799) on April 17, 2026. In the petition signed by Anne Peters, manager, the Debtor disclosed up to $50,000 in assets and up to $1 million in liabilities. Judge Charles M. Walker oversees the case. Michelle L. Spezia, Esq., at Johnson & Spezia, PLLC, represents the Debtor as legal counsel. IMPAC MORTGAGE: Case Summary & 14 Unsecured Creditors ----------------------------------------------------- Lead Debtor: Impac Mortgage Holdings, Inc. 19800 MacArthur Blvd., Suite 500 Irvine, CA 92612 Business Description: Impac Mortgage Holdings, Inc. is an Irvine, California-based mortgage company formed in 1995 as a real estate investment trust and later operated as a nationwide independent residential mortgage lender. The company has originated, sold, and serviced residential mortgage loans, including non-qualified mortgages, conventional loans, and government-insured loans. Its operations have also included master servicing of mortgage-backed securitization portfolios, long-term mortgage portfolio investments, and residual interests in mortgage portfolios. As of April 26, 2026, the company focused on mortgage brokerage and was developing mortgage loan origination software for internal use and potential licensing to other loan origination companies. Chapter 11 Petition Date: April 26, 2026 Court: United States Bankruptcy Court District of Delaware Twelve affiliates that concurrently filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code: Debtor Case No. ------ -------- Impac Mortgage Holdings, Inc. (Lead Case) 26-10593 Copperfield Financial, LLC 26-10591 Copperfield Capital Corporation 26-10592 Impac Funding Corporation 26-10594 Impac Commercial Capital Corporation 26-10595 Impac Secured Assets Corp. 26-10596 IMH Assets Corp. 26-10597 Integrated Real Estate Service Corp. 26-10598 Impac Mortgage Corp. 26-10599 Impac Warehouse Lending, Inc. 26-10600 Synergy Capital Mortgage Corp. 26-10601 Impac Warehouse Lending Group, Inc. 26-10602 Judge: Hon. Craig T Goldblatt Debtors' Local Delaware Counsel: Laura Davis Jones, Esq. Timothy P. Cairns, Esq. PACHULSKI STANG ZIEHL & JONES LLP 919 North Market Street, 17th Floor Wilmington DE 19899 Tel: (302) 652-4100 Fax: (302) 652-4400 Email: ljones@pszjlaw.com tcairns@pszjlaw.com Debtors' General Bankruptcy Counsel: Tania M. Moyron, Esq. Van C. Durrer, II, Esq. DENTONS US LLP 601 S. Figueroa Street #2500 Los Angeles, CA 90017 Tel: (213) 623-9300 Email: tania.moyron@dentons.com van.durrer@dentons.com AND John D. Beck, Esq. Geoffrey M. Miller, Esq. 1221 Avenue of the Americas New York, NY 10020 Phone: (212) 768-6700 Email: john.beck@dentons.com geoffrey.miller@dentons.com Debtors' Financial Advisor: DEVELOPMENT SPECIALIST, INC. Debtors' Claims Agent: KURTZMAN CARSON CONSULTANTS, LLC dba VERITA GLOBAL Lead Debtor's Estimated Assets: $10 million to $50 million Lead Debtor's Estimated Liabilities: $100 million to $500 million The petitions were signed by George A. Mangiaracina as chief executive officer. A full-text copy of the Lead Debtor's petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/2KYZWNQ/Impac_Mortgage_Holdings_Inc__debke-26-10593__0001.0.pdf?mcid=tGE4TAMA Consolidated List of Debtors' 14 Unsecured Creditors: Entity Nature of Claim Claim Amount 1. The Bank of New York Mellon Subordinated $77,000,000 Trust Company, NA as indenture Notes trustee for: Indenture Taberna Preferred Funding I, Ltd. Trustee Taberna Preferred Funding II, Ltd. 500 Ross Street 12th Floor Pittsburg, PA 15262 Contact: Nancy R. Johnson Phone: (412) 236-3139 Email: Nancy.R.Johnson@BNYMellon.com 2. Dark Matter Technologies LLC Trade Debt $567,000 6651 Gate Parkway 4th Floor Jacksonville, FL 32256 Contact: Cassandra Marciniak VP, Associate General Counsel Phone: (414) 719- 4829 Email: cassandra.steele@dmatter.com 3. Nationstar Mortgage Trade Debt $280,000 dba Mr. Cooper 8950 Cypress Waters Blvd Dallas, TX 75019 Contact: Teresa R. Howell Phone: (303) 515-8127 Email: Teresa.Howell@MRCOOPER.com 4. Lakeview Loan Servicing Trade Debt $190,000 4425 Ponce De Leon MS 5-251 Coral Gables, FL 33146 Contact: Jami (Beranek) Beckman Assistant Vice President Loss Analytics Phone: (319) 610-1213 Email: Jami.Beranek@lakeview.com 5. Peerless Network, Inc. Trade Debt $35,978 433 W Van Buren St #410s Chicago, IL 60607 Contact: Michael Amponsah Marilyn Szamlewski Manager, Account Management and Partner Support Phone: (800) 440-9440 Email: michael.amponsah@infobip.com Marilyn.Szamlewski@infobip.com 6. Wilmington Savings Fund Trade Debt $34,250 Society, FSB 500 Delaware Avenue Wilmington, DE 19801 Phone: (302) 792-6000 Email: ctinvoices@wsfsbank.com 7. Black Knight Technology Trade Debt $33,250 Solutions, LLC 601 Riverside Avenue Jacksonville, FL 32204 Phone: (904) 8545100 Email: info@bktecs.com 8. Newport Gateway Lease $17,414 Office LLC Agreement 19900 MacArthur Blvd Irvine, CA 92612 Contact: Sona Valentina Phone: (949) 720-4410 Email: OfficePropertiesBilling@irvinecompany.com 9. Katten Muchin Professional $15,101 Rosenman LLP Services 525 West Monroe Street Suite 2200 Chicago, IL 60661-3693 Contact: Lisa Henry Phone: (212) 940-8800 Email: lisa.henry@katten.com 10. Wilmington Trust Company Trade Debt $15,000 1100 N. Market Street Wilmington, DE 19890 Contact: Greg Marcum Phone: (302) 636-6477 Email: GMARCUM@WilmingtonTrust.com 11. Computershare Trade Debt $15,000 600 South 4th Street, 7th Floor Minneapolis, MN 55415 Contact: Kristy Campbell Phone: (612) 466-7685 Email: Kristy.Campbell@computershare.com 12. The Bank of New York Trade Debt $12,990 240 Greenwich St New York, NY 10286 Phone: (212) 495-1784 Email: support@bny.com 13. Venable LLP Trade Debt $10,127 750 East Pratt Street Suite 900 Baltimore, MD 21202 Contact: Carmen M. Fonda Phone: (410) 244-7825 Email: cmfonda@veneble.com 14. Morgan, Lewis & Bockius LLP Subordinated $8,297 101 Park Ave Notes Indenture New York, NY 10178 Trustee Contact: Kevin J. Biron Phone: (212) 309-6001 Email: kevin.biron@morganlewis.com IMPAC MORTGAGE: Seeks Chapter 11 Bankruptcy in Delaware ------------------------------------------------------- On April 26, 2026, Impac Mortgage Holdings, Inc. filed for Chapter 11 protection in the U.S. Bankruptcy Court for the District of Delaware. According to court filings, the Debtor reports between $10 million and $50 million in debt owed to 1–49 creditors. About Impac Mortgage Holdings, Inc. Impac Mortgage Holdings, Inc. is a financial services company primarily engaged in mortgage lending, servicing, and related real estate activities in the United States. Impac Mortgage Holdings, Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-10593) on April 26, 2026. In its petition, the Debtor reports estimated assets and liabilities each ranging from $10 million to $50 million. INTERNATIONAL UNION: Case Summary & Two Unsecured Creditors ----------------------------------------------------------- Debtor: International Union of Police Associations AFL-CIO 5632 Bee Ridge Road, Suite 200 Sarasota, FL 34233 Business Description: The International Union of Police Associations is a Sarasota, Florida-based union serving law enforcement officers, retired law enforcement officers, law enforcement support personnel, and public safety officers. The organization provides legislative advocacy, representation, legal services, research reports, wage surveys, IT support, and member benefits. It has operated for over four decades. Chapter 11 Petition Date: April 16, 2026 Court: United States Bankruptcy Court Middle District of Florida Case No.: 26-03159 Debtor's Counsel: Kathleen L. LiSanto, Esq. PO Box 3913 Tampa, FL 33601-3913 Tel: 813-224-9255 E-mail: kdisanto@bushross.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Samuel A. Cabral as president. A copy of the Debtor's list of its two unsecured creditors is available for free on PacerMonitor at: https://www.pacermonitor.com/view/MBPKFSA/International_Union_of_Police__flmbke-26-03159__0003.0.pdf?mcid=tGE4TAMA A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/PZCEOYI/International_Union_of_Police__flmbke-26-03159__0001.0.pdf?mcid=tGE4TAMA JAGUAR LOGISTICS: Tamara Miles Ogier Named Subchapter V Trustee --------------------------------------------------------------- The Acting U.S. Trustee for Region 21 appointed Tamara Miles Ogier, Esq., at Ogier, Rothschild & Rosenfeld, PC as Subchapter V trustee for Jaguar Logistics, LLC. Ms. Ogier will be paid an hourly fee of $475 for her services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Ms. Ogier declared that she is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Tamara Miles Ogier, Esq. Ogier, Rothschild & Rosenfeld, PC P.O. Box 1547 Decatur, GA 30031 Phone: (404) 525-4000 About Jaguar Logistics LLC Jaguar Logistics, LLC operates four box trucks providing USPS mail and package delivery services. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ga. Case No. 26-54911) on April 11, 2026, with up to $100,000 in assets and up to $1 million in liabilities. Kionna Clark, president, signed the petition. Judge Sage M. Sigler oversees the case. Brad Fallon, Esq., at Fallon Law PC, represents the Debtor as bankruptcy counsel. JMKA LLC: Unsecured Creditors to Split $160K over 36 Months ----------------------------------------------------------- JMKA, LLC submitted an Amended Disclosure Statement describing Plan of Reorganization dated April 20, 2026. General unsecured creditors are classified in Class 13, and will receive a distribution of 9% of their allowed claims, to be distributed monthly for 36 months after the Effective Date. Class 11 consists of the Secured claim of Cashfloit, LLC. This claim is secured by an eighth position UCC lien on all of the assets of the Debtor. Based on the liquidation analysis, all of the collateral of the Debtor is encumbered by the first lien and there is nothing securing this creditor's claim. This creditor shall be treated as a general unsecured claim in Class 13. This creditor shall release its lien within 14 days of the Debtor making its final payment under the Plan. Class 12 consists of the Secured claim of EBF Holdings. This claim is secured by a ninth position UCC lien on all of the assets of the Debtor. Based on the liquidation analysis, all of the collateral of the Debtor is encumbered by the first lien and there is nothing securing this creditor's claim. This creditor shall be treated as a general unsecured claim in Class 13. This creditor shall release its lien within 14 days of the Debtor making its final payment under the Plan. Class 13 consists of Non-priority unsecured creditors. This class shall be paid a total of $159,750.58 over 36 months. The Debtor shall make monthly payments of $4,437.52 per month for 36 months and then the Debtor shall receive a discharge of all Class 13 claims. The allowed unsecured claims total $1,775,006.42. This Class is impaired. The Debtor is wholly owned by four equity security holders, namely, Kasindra Mladenoff (90%), Kenna Dayton (3.34%), Kessler Dayton (3.33%), and Brenner Daytyon (3.33%). The Debtor proposes to maintain the current equity security holders in their respective ownership positions. Since the Plan does not contemplate payment in full to all classes of creditors, the Debtor shall hold an auction of its equity security interest at the confirmation hearing to determine fair market value. The winner of the auction will pay the amount of the winning bid to the Debtor within 7 days of being declared the auction winner, thus adding new value to the Reorganized Debtor. Notice of the auction shall be published in the Chicago Daily Law Bulletin after Court approval of this Plan. Kasindra Mladenoff will make the first bid in the amount of $1,000. The Debtor will fund the Plan through the income from continued operations. A full-text copy of the Amended Disclosure Statement dated April 20, 2026 is available at https://urlcurt.com/u?l=iD1SZf from PacerMonitor.com at no charge. Counsel to the Debtor: Ben Schneider, Esq. Schneider & Stone 8424 Skokie Blvd., Suite 200 Skokie, IL 60077 Telephone: (847) 933-0300 Email: ben@windycitylawgroup.com About JMKA LLC JMKA, LLC is a boutique childcare center in downtown Elmhurst, Ill. It operates as Elmhurst Premier Childcare. JMKA filed a Chapter 11 bankruptcy petition (Bankr. N.D. Ill. Case No. 25-00036) on Jan. 3, 2025, with up to $50,000 in assets and up to $10 million in liabilities. Judge David D. Cleary oversees the case. The Debtor is represented by Ben L. Schneider, Esq., at The Law Offices of Schneider & Stone. KARBONX CORP: Reports $5.2MM Q3 Loss Amid Revenue Surge to $4.3MM ----------------------------------------------------------------- Karbon-X Corp. filed its Quarterly Report on Form 10-Q with the U.S. Securities and Exchange Commission, reporting a net loss of $5,174,807 for the three months ended February 28, 2026, compared to a net loss of $1,161,555 million for the same period in the prior year. For the nine-month period ended February 28, 2026, the Company reported a net loss of $9,218,818, compared to a net loss of $3,652,837 in the corresponding prior-year period. The Company has recently begun ramping up revenues from its business operations, however it has incurred operating losses since inception of $20,530,415. Revenues for the three months ended February 28, 2026 were $4,272,583, compared to $238,528 in the prior-year period. Revenues for the nine months ended February 28, 2026 increased to $60,779,140 from $1,530,349 in the same period of the prior year. The Company will require additional funding to meet its ongoing obligations and to fund anticipated operating losses. The ability of the Company to continue as a going concern is dependent on raising capital to fund its initial business plan and ultimately to attain profitable operations. Accordingly, these factors raise substantial doubt as to the Company's ability to continue as a going concern. The Company intends to continue to fund its business by way of private placements and advances from related parties as may be required. As of February 28, 2026, the Company had $20,401,351 in total assets, $27,299,780 in total liabilities, and $6,898,429 in total stockholders' deficit. A full text copy of the Company's Form 10-Q is available at https://tinyurl.com/r76jm7xw About Karbon-X Calgary, Canada-based Karbon-X Corp. provides customized transactional options, tailored insights, and scalable access to the Verified Emissions Reduction markets. Spokane, Wash.-based Fruci & Associates II, PLLC, the Company's auditor since 2022, issued a "going concern" qualification in its report dated September 15, 2025, attached to the Company's Annual Report on Form 10-K for the fiscal year ended May 31, 2025, citing that Company has generated minimal revenues from its business operations and has incurred operating losses since inception. These factors, among others, raise substantial doubt about the Company's ability to continue as a going concern. KCAP RE FUND: Loses Bid to Stay Bowman Fair Housing Act Lawsuit --------------------------------------------------------------- Senior Judge Sidney A. Fitzwater of the U.S. District Court for the Northern District of Texas denied the motion of several defendants to extend the bankruptcy stay as to each of them with respect to the case captioned as DANA BOWMAN, Plaintiff, VS. KCAP RE FUND II, LLC, et al., Defendants, and SILVER LEAF BTR, LLC a/k/a SILVER LEAF JOSHUA LLC, and SILVER LEAF COMMUNITIES, LLC, Defendants-Third-Party Plaintiffs, VS. TRIUNE ARCHITECTURE PLLC, and WESLEY W. GUSTIN, Third-Party Defendants, Case No. 3:24-cv-02472-D (N.D. Tex.). In this action alleging violations of the Fair Housing Amendments Act of 1988("FHA"), several non-bankrupt defendants move to extend the automatic bankruptcy stay as to each of them based on the voluntary Chapter 11 bankruptcy of defendant KCAP RE Fund II, LLC ("KCAP"). The "Owner Defendants" are: KCAP RE Fund II Joshua, LLC, Abdeen Joshua Holdings, LLC, Alemer Joshua Holdings, LLC, Hatcher Joshua Holdings, LLC, Horany Joshua Holdings, LLC, Jensen Joshua Holdings, LLC, Lingampalli Joshua Holdings, LLC, Nobles Joshua Holdings, LLC, Schroeder Joshua Holdings, LLC, Skaugstad Joshua Holdings, LLC, and Vista Grande Dairy Joshua Holdings, LLC. The "KeyCity Defendants" means, collectively, KeyCity Fund Management, LLC and KeyCity Capital, LLC. In January 2026 Bowman amended his complaint to add as a defendant Cooper 100, LLC, the owner of the Property since October 2025. In 2022 the Owner Defendants acquired an ownership interest in The Residence at Joshua Landing Apartments (the "Property"), a two-story apartment complex located in Joshua, Texas, that was then under construction. The KeyCity Defendants are the developer of the Property and the manager for the Owner Defendants. Defendants-third party plaintiffs Silver Leaf Communities, LLC and Silver Leaf BTR, LLC (collectively, "Silver Leaf") are construction companies and the contractor of record for the Property. KCAP owned the Property until September 2022. In October 2024 plaintiff Dana Bowman ("Bowman") filed this suit against the Owner Defendants, the KeyCity Defendants, Silver Leaf, and KCAP, alleging that the Property violated the accessibility requirements for multi-family dwellings described in the FHA. Silver Leaf, in turn, filed a third-party complaint against Triune Architecture PLLC and its managing member, Wesley W. Gustin, alleging claims for fraud, breach of contract, and contribution. KCAP filed a voluntary Chapter 11 bankruptcy petition in December 2025. Based on this filing, Bowman moved under Fed. R. Civ. P. 41(a)(2) to dismiss his claims against KCAP, without prejudice. The Owner Defendants and the KeyCity Defendants filed the instant motion, seeking to extend to each of them the automatic stay entered in KCAP's bankruptcy. The court granted Bowman's motion and dismissed his claims against KCAP, without prejudice. The KeyCity Defendants and the Owner Defendants now move to extend the stay entered in KCAP's bankruptcy. Bowman opposes the motion. Regarding the KeyCity Defendants, defendants contend that any judgment against KeyCity Fund Management LLC ("Fund Management") would in effect be a judgment against KCAP because Fund Management was merely an agent for the TIC, so any liability imposed on Fund Management would be passed along to its principals, the Owner Defendants, "including indirectly [KCAP]." Bowman responds that the court should not extend the automatic stay because KeyCity, the Owner Defendants, and KCAP are merely joint tortfeasors and there is no evidence that a judgment against KeyCity or the Owner Defendants would be in effect a judgment against KCAP. According to the court, in this case, the KeyCity Defendants and the Owner Defendants have not identified any contractual indemnification provision that would have the effect of requiring KCAP to indemnify them; KCAP was not a party to either of the contracts attached to defendants' motion and is not mentioned anywhere in them. Nor have they explained or provided any evidence that would show how a judgment against Joshua, which is allegedly wholly owned by KCAP, would in effect be a judgment against KCAP. Because the KeyCity Defendants and the Owner Defendants have not established that a judgment against them will in effect be a judgment against KCAP, the court denies their motion to extend the stay. A copy of the Court's Memorandum Opinion and Order dated April 17, 2026, is available at https://urlcurt.com/u?l=hXMP3k from PacerMonitor.com. About KCAP RE Fund II LLC KCAP RE Fund II LLC is a land development company in Southwest Florida that holds properties in Cape Coral and Fort Myers, including 310-312 Hancock Bridge Parkway, 611-613 SE Van Loon Terrace, 1021-1023 SE 39th Terrace, 4124 SE 9th Court, and 1944 Sunset Place. KCAP sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Tex. Case No. 25-44740) on December 3, 2025, listing between $10 million and $50 million in assets and liabilities. Tie Lasater, chief executive officer of KCAP, signed the petition. Judge Mark X. Mullin oversees the case. Jeff Carruth, Esq., at Condon Tobin Sladek Sparks Nerenberg, PLLC represents the Debtor as legal counsel. KEY PAINTING: Lisa Rynard Named Subchapter V Trustee ---------------------------------------------------- The U.S. Trustee for Regions 3 and 9 appointed Lisa Rynard, Esq., at the Law Office of Lisa A. Rynard as Subchapter V trustee for Key Painting & Decorating, LLC. Ms. Rynard will be paid an hourly fee of $325 for her services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Ms. Rynard declared that she is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Lisa A. Rynard, Esq. Law Office of Lisa A. Rynard 240 Broad Street Montoursville, PA 17754 Phone: (570) 505-3289 Email: larynard@larynardlaw.com About Key Painting & Decorating LLC Key Painting & Decorating LLC, founded in 1975 and based in Hummelstown, Pennsylvania, provides residential, commercial, and industrial painting services, along with wallpaper installation, cabinet refinishing, and related interior and exterior work. The company serves customers across Central Pennsylvania, including the Harrisburg, Hershey, Lancaster, Mechanicsburg, and York areas. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Pa. Case No. 26-00959) on April 9, 2026, with $461,532 in assets and $1,506,586 in liabilities. Bryan Daniels, member, signed the petition. Judge Henry W. Van Eck presides over the case. Craig A. Diehl, Esq., at the Law Offices of Craig A. Diehl represents the Debtor as bankruptcy counsel. KKR CLO 20: Moody's Affirms Ba3 Rating on $27MM Class E Notes ------------------------------------------------------------- Moody's Ratings has upgraded rating on the following notes issued by KKR CLO 20 Ltd.: US$37.8M Class D-R Senior Secured Deferrable Floating Rate Notes, Upgraded to Aa2 (sf); previously on Nov 17, 2025 Upgraded to A2 (sf) Moody's have also affirmed the ratings on the following notes: US$69M (Current outstanding balance US$31.35M) Class B-R Senior Secured Floating Rate Notes, Affirmed Aaa (sf); previously on Nov 17, 2025 Affirmed Aaa (sf) US$34.2M Class C-R Senior Secured Deferrable Floating Rate Notes, Affirmed Aaa (sf); previously on Nov 17, 2025 Upgraded to Aaa (sf) US$27M Class E Senior Secured Deferrable Floating Rate Notes, Affirmed Ba3 (sf); previously on Nov 17, 2025 Affirmed Ba3 (sf) KKR CLO 20 Ltd., originally issued in December 2017 and partially refinanced in September 2024, is a collateralised loan obligation (CLO) backed by a portfolio of mostly high-yield senior secured US loans. The portfolio is managed by KKR Financial Advisors II, LLC. The transaction's reinvestment period ended in January 2023. RATINGS RATIONALE The rating upgrade on the Class D-R notes is primarily a result of the deleveraging of the senior notes following amortisation of the underlying portfolio since the last rating action in November 2025. The affirmations on the ratings on the Class B-R, C-R and E notes are primarily a result of the expected losses on the notes remaining consistent with their current rating levels, after taking into account the CLO's latest portfolio, its relevant structural features and its actual over-collateralisation ratios. Since the last rating action in November 2025, the Class A-R notes have paid down by approximately USD25.6 million (12.7% of its initial balance) and now have been fully redeemed. The Class B-R notes also have paid down by approximately USD37.7 million (54.6%) since the last rating action. As a result of the deleveraging, over-collateralisation (OC) has increased across the capital structure. According to the trustee report dated March 2026[1] the Class A/B, Class C, Class D and Class E ratios are reported at 282.9%, 180.3%, 128.7%, and 106.9%, compared to September 2025[2] levels of 182.6%, 145.4%, 118.7% and 104.9% respectively. Moody's notes that the April 2026 principal payments are not reflected in the reported OC ratios. The deleveraging and OC improvements primarily resulted from high prepayment rates of leveraged loans in the underlying portfolio. Most of the prepaid proceeds have been applied to amortise the liabilities. All else held equal, such deleveraging is generally a positive credit driver for the CLO's rated liabilities. The key model inputs Moody's uses in Moody's analysis, such as par, weighted average rating factor, diversity score and the weighted average recovery rate, are based on its published methodology and could differ from the trustee's reported numbers. In Moody's base case, Moody's used the following assumptions: Performing par and principal proceeds balance: USD150.7m Defaulted Securities: USD1.7m Diversity Score: 35 Weighted Average Rating Factor (WARF): 3368 Weighted Average Life (WAL): 2.83 years Weighted Average Spread (WAS) (before accounting for reference rate floors): 3.17% Weighted Average Recovery Rate (WARR): 46.65% Par haircut in OC tests and interest diversion test: 6.43% The default probability derives from the credit quality of the collateral pool and Moody's expectations of the remaining life of the collateral pool. The estimated average recovery rate on future defaults is based primarily on the seniority of the assets in the collateral pool. In each case, historical and market performance and a collateral manager's latitude to trade collateral are also relevant factors. Moody's incorporates these default and recovery characteristics of the collateral pool into its cash flow model analysis, subjecting them to stresses as a function of the target rating of each CLO liability it is analysing. Methodology Underlying the Rating Action: The principal methodology used in these ratings was "Collateralized Loan Obligations" published in April 2026. Counterparty Exposure: The rating action took into consideration the notes' exposure to relevant counterparties using the methodology "Structured Finance Counterparty Risks" published in May 2025. Moody's concluded the ratings of the notes are not constrained by these risks. Factors that would lead to an upgrade or downgrade of the ratings: The rated notes' performance is subject to uncertainty. The notes' performance is sensitive to the performance of the underlying portfolio, which in turn depends on economic and credit conditions that may change. The collateral manager's investment decisions and management of the transaction will also affect the notes' performance. Additional uncertainty about performance is due to the following: -- Portfolio amortisation: The main source of uncertainty in this transaction is the pace of amortisation of the underlying portfolio, which can vary significantly depending on market conditions and have a significant impact on the notes' ratings. Amortisation could accelerate as a consequence of high loan prepayment levels or collateral sales by the collateral manager or be delayed by an increase in loan amend-and-extend restructurings. Fast amortisation would usually benefit the ratings of the notes beginning with the notes having the highest prepayment priority. -- Recovery of defaulted assets: Market value fluctuations in trustee-reported defaulted assets and those Moody's assumes have defaulted can result in volatility in the deal's over-collateralisation levels. Further, the timing of recoveries and the manager's decision whether to work out or sell defaulted assets can also result in additional uncertainty. Recoveries higher than Moody's expectations would have a positive impact on the notes' ratings. -- Long-dated assets: The presence of assets that mature beyond the CLO's legal maturity date exposes the deal to liquidation risk on those assets. Moody's assumes that, at transaction maturity, the liquidation value of such an asset will depend on the nature of the asset as well as the extent to which the asset's maturity lags that of the liabilities. Liquidation values higher than Moody's expectations would have a positive impact on the notes' ratings. In addition to the quantitative factors that Moody's explicitly modelled, qualitative factors are part of the rating committee's considerations. These qualitative factors include the structural protections in the transaction, its recent performance given the market environment, the legal environment, specific documentation features, the collateral manager's track record and the potential for selection bias in the portfolio. All information available to rating committees, including macroeconomic forecasts, input from Moody's other analytical groups, market factors, and judgments regarding the nature and severity of credit stress on the transactions, can influence the final rating decision. LACASA DEL: Commences Chapter 7 Bankruptcy in New York ------------------------------------------------------ On April 24, 2026, Lacasa Del Mofongo Del Bronx filed for Chapter 7 protection in the U.S. Bankruptcy Court for the Southern District of New York. According to court filings, the Debtor reports between $100,001 and $1,000,000 in debt owed to 100–199 creditors. Corporate Ownership Statement Due May 8, 2026. About Lacasa Del Mofongo Del Bronx Lacasa Del Mofongo Del Bronx is a restaurant business specializing in Puerto Rican cuisine, known for traditional dishes such as mofongo and other Caribbean offerings. Lacasa Del Mofongo Del Bronx sought relief under Chapter 7 of the U.S. Bankruptcy Code (Bankr. Case No. 26-10926) on April 24, 2026. In its petition, the Debtor reports estimated assets ranging from $100,001 to $1,000,000 and estimated liabilities ranging from $100,001 to $1,000,000. Honorable Bankruptcy Judge Lisa G. Beckerman handles the case. LAND GO: Robbin Messerli Named Subchapter V Trustee --------------------------------------------------- The U.S. Trustee for Region 13 appointed Robbin Messerli as Subchapter V trustee for Land Go Properties, L.L.C. Mr. Messerli will be paid an hourly fee of $300 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Messerli declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Robbin L. Messerli 6917 Tomahawk Rd. P.O. Box 8686 Prairie Village, KS 66208-2618 Phone: 913.662.3524 Email: rob.messerli@gunrockvp.com About Land Go Properties L.L.C. Land Go Properties, L.L.C. is a real estate company engaged in property ownership, development, and investment activities. Land Go Properties sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-30117) on April 10, 2026. In its petition, the Debtor reports estimated assets of $1 million to $10 million and estimated liabilities of $500,001 to $1 million. Honorable Bankruptcy Judge Brian T. Fenimore handles the case. The Debtor is represented by Robert Baran, Esq., at Conroy Baran. LIBERTY CARRIERS: Gets Interim to Use Cash Collateral ----------------------------------------------------- The U.S. Bankruptcy Court for the Northern District of California, Oakland Division, granted Liberty Carriers, Inc. interim approval to use cash collateral. Under the interim order, the Debtor is authorized to use cash collateral to pay $114,810.26 in operating expenses. The Debtor's cash collateral, which consists of cash on hand and ongoing business revenues, is subject to security interests held by two primary creditors: JPMorgan Chase Bank, N.A., with a claim of approximately $333,410, and the U.S. Small Business Administration, with a claim of about $93,000. Both are secured by broad UCC-1 filings covering the Debtor's assets and revenues. As protection, the court granted both creditors replacement liens on the Debtor's cash and other assets, with the same priority, validity and extent as their pre-petition liens. Additionally, the court required the Debtor to pay $1,350 to JPMorgan by May 1. A copy of the court's order is available at https://shorturl.at/nfreb from PacerMonitor.com. A final hearing is scheduled for May 8, with objections due by May 6. Liberty Carriers, a small dump truck service business based in Livermore, California, encountered significant financial distress after purchasing approximately 11 Peterbilt trucks intended for conversion into dump trucks. However, delays in completing these conversions prevented the trucks from generating revenue, ultimately leading to their repossession in late 2025 and early 2026 and leaving the Debtor unable to service its loan obligations. About Liberty Carriers Inc. Liberty Carriers, Inc. is a dump truck service business based in Livermore, California. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Cal. Case No. 26-40730) on April 8, 2026. In the petition signed by Gurmit Singh, chief executive officer, the Debtor disclosed up to $500,000 in assets and up to $10 million in liabilities. Judge Charles Novak oversees the case. Ryan C. Wood, Esq., at Law Offices of Ryan C. Wood, Inc., represents the Debtor as legal counsel. LINQTO TEXAS: Kleipool Loses Bid for New Election Under Ch. 11 Plan ------------------------------------------------------------------- Judge Alfredo Perez of the U.S. Bankruptcy Court for the Southern District of Texas denied the emergency objection of Johannes Gerardus Reinerus (Jan) Kleipool to the recovery allocation under Linqto Texas, LLC's Chapter 11 plan. On February 2, 2026, the Court commenced a hearing to consider final approval of the disclosure statement and confirmation of the Debtors' First Amended Joint Chapter 11 Plan (the "Plan"), and on February 13, 2026, the Court entered an Order confirming the Plan. Article III of the Debtors' confirmed Plan contains the classification and treatment of claims and equity interests. Class 4 consists of Customer claims, such as that held by Mr. Kleipool. According to the Plan, all allowed Customer claims would first receive a Liquidating Trust interest. Then, those Customers who either elected to participate in the Closed-End Fund -- or are participating in the Closed-End Fund by default -- would have their Liquidating Trust interest automatically exchanged for Closed-End Fund shares on the Closed-End Fund Exchange Date. On March 13, 2026, Mr. Kleipool filed an Emergency Pro Se Objection to Recovery Allocation. In it, he alleges his failure to submit a timely election was due to excusable neglect and requests that his interests are reallocated to the Liquidating Trust. Mr. Kleipool alleges that, due to third-party cybersecurity interference, his Ballot was diverted to a "junk" folder and remained inaccessible. He claims notice was inadequate and argues that his failure to submit a timely election was out of his control and "excusable neglect" under the Pioneer standard. He additionally requests an "investigation" into the "default" allocation mechanism contemplated by the Debtors' confirmed Plan, which he argues places creditors into the Closed-End Fund without their consent. As such, Mr. Kleipool "demands" his assets are allocated to the Liquidating Trust instead of the Closed-End Fund. Debtors argue that permitting Customers, like Mr. Kleipool, to change their elections at this stage "would implicate core features of the Plan's structure and the Debtors' reliance on the exemption from registration under the Securities Act of 1933." Under the Debtors' confirmed Plan, Debtors rely on 11 U.S.C. Sec. 1145(a)(1) to exempt the issuance of interests under the plan from Securities Act registration requirements. Because offering Customers like Mr. Kleipool a new election would not be done so "under the plan," the Sec. 1145 exemption would not apply, and Debtors would have to register any new offer. The Court says requiring Debtors to register a new offer for Mr. Kleipool, or any other Customer in a similar circumstance, prejudices the Debtors by way of extra costs and delay at a time when Debtors are working on launching the Liquidating Trust and Closed-End Fund. Allowing Mr. Kleipool to change his election now would prejudice the Debtors by putting them at risk of future securities law violations. Therefore, the Court finds Mr. Kleipool may not make a late change to his election. The Court denies Mr. Kleipool's requested relief. The Debtors are requested to settle an order implementing this decision within 14 days. A copy of the Court's Memorandum Opinion dated April 21, 2026, is available at https://urlcurt.com/u?l=Fa21Cn from PacerMonitor.com. About Linqto Inc. Linqto Inc. is a San Jose-based financial technology company operating in the alternative investment space. Linqto Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Texas Case No. 25-90187) on July 7, 2025. The case is jointly administered with the Chapter 11 cases of Linqto Texas, LLC, Linqto Liquidshares, LLC and Linqto Liquidshares Manager, LLC under case number 25-90186. In its petition, Linqto Inc. reported estimated assets and liabilities between $500 million and $1 billion. Judge Alfredo R. Perez oversees the cases. The Debtors tapped Gabrielle A. Hamm, Esq. at Schwartz, PLLC as legal counsel; Breakpoint Partners, LLC as restructuring advisor; ThroughCo Communications, LLC as public relations agent; and Epiq Corporate Restructuring, LLC as claims agent. The U.S. Trustee for Region 7 appointed an official committee to represent unsecured creditors in the Debtors' Chapter 11 cases. The committee is represented by Orrick, Herrington & Sutcliffe, LLP. Sandton Capital Solutions Master Fund VI, LP, as DIP Lender, is represented by Kristen L. Perry, Esq., at Faegre Drinker Biddle & Reath, LLP, in Dallas, Texas; Richard J. Bernard, Esq., at Faegre Drinker Biddle & Reath, LLP, in New York; and Michael R. Stewart, Esq., and Adam C. Ballinger, Esq., at Faegre Drinker Biddle & Reath, LLP, in Minneapolis, Minnessota. Sandton may also be reached through Robert Rice, Esq. LIVE WELL MEDICAL: High Court Passes on Founder's Bond Fraud Appeal ------------------------------------------------------------------- Sydney Price of Law360 reports that the U.S. Supreme Court on Monday refused to hear an appeal from Michael Hild, founder of Live Well Financial, who was convicted of fraud for overstating bond values to obtain financing from lenders. Hild contended that his actions did not amount to criminal fraud and disputed how bond pricing was presented during trial. Federal prosecutors maintained that he manipulated valuations to misrepresent the company's financial position and secure increased borrowing, according to report. The justices' decision not to take up the case leaves the conviction in place and closes off further review at the nation's highest court. The ruling underscores the finality of prior decisions affirming the fraud findings, ther report states. About Live Well Medical Centers Orlando Live Well Medical Centers Orlando, LLC sought protection under Chapter 11 of the Bankruptcy Code (Bankr. M.D. Fla. Case No. 21-02027) on Aug. 19, 2021, listing as much as $50,000 in both assets and liabilities. The Debtor is represented by Thomas C. Adam, Esq., at Adam Law Group, P.A. MADISON IAQ: Moody's Ups CFR to 'Ba3', Outlook Stable ----------------------------------------------------- Moody's Ratings upgraded the ratings of Madison IAQ LLC (Madison Air), including the corporate family rating to Ba3 from B2 and the probability of default rating to Ba3-PD from B2-PD. Moody's also upgraded Madison Air's senior secured first lien bank credit facilities to Ba2 from B1, senior secured notes to Ba2 from B1, and senior unsecured notes to B2 from Caa1, with a stable outlook. Previously, the ratings were on review for upgrade. Moody's also assigned a speculative grade liquidity rating of SGL-1. This concludes the review of Madison Air's ratings that Moody's initiated on April 16, 2026. The upgrades reflect substantially improved credit metrics driven by a material reduction in debt after the listing of Madison Air Solutions Corporation on a public exchange. Net proceeds from the transaction, consisting of $2.4 billion from the IPO listing and $100 million from the private placement of Class B shares to Madison Industries Holdings LLC, were used to fully repay Madison Air's first lien term loan debt and partially pay down the incremental term loan. Additionally, Madison Air's liquidity will have markedly improved via the upsizing of its revolving credit facility to $1.3 billion from $340 million. These actions have resulted in pro forma debt/EBITDA of approximately 3.5x from over 6.0x as of December 31, 2025. Interest coverage and free cash flow-to-debt have also materially improved. Furthermore, Madison Air is now a public SEC filer with a broader shareholder base, reducing the likelihood of very high financial leverage going forward. The listing of Madison Air Solutions Corporation as a publicly traded company is considered to be a governance consideration and a key driver of the rating action. The stable outlook reflects Moody's expectations of modest earnings growth and continued annual free cash flow generation of at least $400 million. The stable outlook also reflects Moody's expectations that Madison Air will adopt a conservative financial policy with adjusted debt/EBITDA sustained below 4.0x. RATINGS RATIONALE The Ba3 CFR reflects Moody's expectations that Madison Air will continue to benefit from strong demand for its products and services within the niche indoor air quality market, supporting steady revenue growth over the next 12–18 months. A strong EBITDA margin and solid cash flow generation are underpinned by a broad and diversified product portfolio and end market exposure, as well as the company's technical expertise in air quality solutions and ongoing operational efficiencies. Moody's expects adjusted debt/EBITDA to decline to around 3.0x by the end of 2026 from around 3.5x currently. The ratings also reflect Moody's expectations of limited near-term M&A activity, with future transactions potentially increasing leverage up to 4.5x on a pro forma basis, with Moody's expectations of deleveraging quickly thereafter. Madison Air benefits from good competitive scale and an established position within its markets. The company maintains strong profitability with an adjusted EBITDA margin of around 25%, driven in part by a significant portion of revenue derived from replacement, upgrade, and aftermarket components and services. This in turn supports a durable profitability profile and helps mitigate downward pressure during troughs in economic cycles. Ratings are constrained by Madison Air's controlled company status, with high ownership concentration and Madison Industries Holdings LLC holding approximately 95% voting power. Also, although the company is positioned in the more mission critical, higher-value air quality niche of the HVAC industry, it remains exposed to cyclical construction and capex trends, as well as competition from larger, well capitalized, diversified HVAC peers. Finally, Madison Air's growth strategy is in part driven by acquisitions, implying a certain level of integration and execution risk as it continues growing in scale. The SGL-1 speculative grade liquidity rating denotes Moody's expectations for Madison Air to operate with very good liquidity over the next 12-18 months. The company has over $250 million of cash and Moody's expects annual free cash flow generation of over $400 million. Term loan amortization of around $16 million per annum is manageable. The company will have an undrawn $1.3 billion revolving credit facility and Moody's expects the majority of this capacity to remain undrawn on a routine basis. The credit facility will contain a springing first lien net leverage covenant of 6.0x which comes into effect if more than 35% of the facility is drawn. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS Ratings could be upgraded on a reduction in ownership concentration, while sustaining adjusted debt/EBITDA below 3.5x and demonstrating a track record of disciplined financial policies as a publicly traded company. Ratings could be downgraded if adjusted debt/EBITDA is sustained above 4.5x, the company experiences sustained EBITDA margin deterioration, free cash flow-to-debt considerably weakens, or financial policy becomes increasingly aggressive. Madison IAQ LLC manufactures indoor air quality solutions for commercial channels, including hospital, education, hospitality, distribution, retail, service, office and manufacturing facilities and for residential customers. Pro forma revenue for the twelve-month period ending December 31, 2025 was approximately $3.5 billion. The principal methodology used in these ratings was Manufacturing published in September 2025. The net effect of any adjustments applied to rating factor scores or scorecard outputs under the primary methodology(ies), if any, was not material to the ratings addressed in this announcement. MAG DS CORP: Moody's Affirms 'B3' CFR & Alters Outlook to Negative ------------------------------------------------------------------ Moody's Ratings affirmed MAG DS Corp's (MAG) B3 corporate family rating and B3-PD probability of default rating. Concurrently, Moody's affirmed the B3 rating on MAG's senior secured first lien bank credit facilities. The outlook was revised to negative from stable. The affirmation reflects Moody's expectations that operating performance will continue to improve primarily because of incremental earnings from a significant US defense program. Liquidity remains weak despite Moody's expectations of positive free cash flow over the next several quarters given the near-term need to refinance the company's capital structure. The change in the outlook to negative from stable reflects Moody's concerns that MAG has not yet refinanced its senior secured bank credit facilities which mature in less than 12 months. RATINGS RATIONALE The B3 CFR reflects refinancing risk associated with MAG's senior secured bank credit facilities maturing within the next 12 months. The ratings are also constrained by a modest and volatile revenue base, as well as contract concentration. The company is subject to sudden changes in revenue such as when the US military withdrew from Afghanistan in August 2021. MAG was awarded the US Army's ATHENA-R program in August 2023 which is driving improvement in revenue and profitability after significant debt-funded upfront capital investment. As a result, Moody's expects the company's revenue to grow from $365 million for LTM September 30, 2025 to over $500 million in the next 12-18 months. Moody's also expects MAG's adjusted debt/EBITDA of over 8.8x as of September 30, 2025 will decline to around 5.3x in next 12-18 months. The ratings are supported by MAG's strong operational capabilities, niche focus, and bidding qualifications that enable competition against larger and better capitalized contractors. As such, the company has the ability to bid as a prime contractor on government contracts. The US government will continue to invest in surveillance technologies, providing MAG with revenue stability. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS Ratings may be upgraded if debt/EBITDA is sustained below 5.0x. EBITDA/Interest expense above 1.5x would and free cash flow-to-debt in the mid-single digits could also support an upgrade. Ratings may be downgraded if the probability of a distressed exchange increases or if liquidity worsens. An inability to refinance the company's capital structure could also result in a downgrade of the ratings. MAG DS Corp, headquartered in Fairfax, Virginia, is a technology services company delivering full-spectrum, joint-domain, command and control services and engineering solutions around the world. The Company specializes in C5ISR (Command, Control, Communications, Computers, Combat Systems, Intelligence, Surveillance, and Reconnaissance) by using both manned and unmanned platforms to conduct a variety of training, coordination, data gathering and analysis, maintenance, and integration services using both government and contractor-owned assets. Additionally, MAG provides networking engineering, cyber security, electronic warfare, and software design and development services to the United States (US) Department of Defense, as both a prime and subcontractor. MAG is majority-owned by entities of New Mountain Capital. The principal methodology used in these ratings was Aerospace and Defense published in July 2025. The net effect of any adjustments applied to rating factor scores or scorecard outputs under the primary methodology(ies), if any, was not material to the ratings addressed in this announcement. MARTINI FITNESS: Voluntary Chapter 11 Case Summary -------------------------------------------------- Debtor: Martini Fitness, Corp. 333 Tosca Drive Stoughton, MA 02072 Business Description: Martini Fitness, Corp. operates a fitness and athletic club facility in Stoughton, Massachusetts. The company provides recreational and wellness amenities, including indoor pickleball courts, gym facilities, an indoor saltwater pool, an indoor track, sauna and steam room access, serving fitness members and recreational sports users in the area. Chapter 11 Petition Date: April 15, 2026 Court: United States Bankruptcy Court District of Massachusetts Case No.: 26-10848 Debtor's Counsel: James Ehrhard, Esq. EHRHARD & ASSOCIATES, P.C. 27 Mechanics Street, Suite 101 Worcester, MA 01608 Tel: (508) 791-8411 Email: ehrhard@ehrhardlaw.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Thomas Martini, Jr., as manager. 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/HTO4Q6A/Martini_Fitness_Corp__mabke-26-10848__0001.0.pdf?mcid=tGE4TAMA MAXIM CRANE: Moody's Affirms 'B2' CFR, Outlook Remains Stable ------------------------------------------------------------- Moody's Ratings affirmed Maxim Crane Works Holdings Capital, LLC's ("Maxim") B2 corporate family rating, B2-PD probability of default rating and Caa1 rating on the senior secured second lien notes. The outlook remains stable. The rating affirmation reflects Maxim's improving profitability following its multiyear fleet refreshment program, which will help restrain leverage despite Moody's expectations of moderating but high capital spending over the next 12-18 months. RATINGS RATIONALE Maxim's ratings reflect its leading market position as a specialized crane rental services provider in the United States and large scale against regional and local competitors. The company benefits from its national presence, coast to coast footprint, and diversified customer base. Profitability has improved following a multiyear fleet refresh program that peaked in 2024-25, and Moody's expects continued margin expansion over the next 12–18 months, supported by lower maintenance costs and higher equipment utilization. Solid demand from data centers, advanced manufacturing, energy, and infrastructure will support revenue and profit growth, partially offsetting weakness in traditional commercial construction. At the same time, the ratings are constrained by high financial leverage and the capital intensity of the business, which requires significant spending to grow. While Moody's expects capital expenditures to moderate from recent peak levels, free cash flow will remain negative, necessitating continued reliance on Maxim's asset based lending (ABL) facility, albeit to a lesser extent than over the last two years. Moody's expects earnings growth to offset incremental debt, keeping leverage around 5.0x for 2026-27. Moody's expects Maxim to have adequate liquidity over the next 12 to 18 months, supported by over $400 million of ABL availability, subject to borrowing base limitations. There are no material debt maturities until 2028 when the ABL expires and $500 million of senior secured notes mature. The stable outlook reflects Moody's expectations that solid demand from several end markets and improving profitability will help Maxim to sustain leverage at approximately 5.0x despite considerable investments to grow its rental fleet. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS The ratings could be upgraded if Maxim maintains leverage below 4.0x. In addition, Moody's could upgrade the ratings if the company sustains funds from operations (FFO)/debt above 15% and implements a more conservative financial policy. The ratings could be downgraded if Maxim's leverage is sustained above 5.5x or if FFO/debt falls below 10%. A material deterioration in liquidity including an increased reliance on the ABL could also result in a rating downgrade. Also, adoption of more aggressive financial policies, including distributions to shareholders or large debt financed acquisitions could result in a downgrade. The principal methodology used in these ratings was Equipment and Transportation Rental published in October 2025. The net effect of any adjustments applied to rating factor scores or scorecard outputs under the primary methodology(ies), if any, was not material to the ratings addressed in this announcement. Maxim Crane Works Holdings Capital, LLC is a leading provider of specialty crane rental services in the US. The company's administrative headquarters is in Canonsburg, Pennsylvania while its operational headquarters are in Wilder, Kentucky. Maxim rents cranes and other heavy lifting equipment primarily to nonresidential construction, industrial and infrastructure and energy-related end markets. The company is owned and controlled by funds managed by private equity firm Apollo Global Management, LLC since 2016. The company recorded about $1 billion revenue in 2025. MIRACLE BUILDERS: Seeks Chapter 7 Bankruptcy in New York -------------------------------------------------------- On April 23, 2026, Miracle Builders Corp. filed for Chapter 7 bankruptcy protection in the Eastern District of New York Bankruptcy Court. According to court filings, the debtor reports between $100,001 and $1,000,000 in debt owed to approximately 1–49 creditors. Case No. 26-71589 was assigned to the matter, and Honorable Bankruptcy Judge Alan S. Trust is presiding over the case. About Miracle Builders Corp. Miracle Builders Corp. is a construction services company engaged in general contracting and building-related projects. The company sought relief under Chapter 7 of the U.S. Bankruptcy Code (Bankr. E.D.N.Y. Case No. 26-71589) on April 23, 2026. In its petition, the debtor reports estimated assets between $100,001 and $1,000,000 and estimated liabilities within the same range. Honorable Bankruptcy Judge Alan S. Trust handles the case. MISS AMERICA: Director Seeks to Void Ownership Dispute Settlement ----------------------------------------------------------------- Alex Wolf of Bloomberg Law reports that Robin Fleming, a director of the Miss America beauty pageant, is seeking to unwind a settlement with a Florida lawyer after discovering alleged falsification of corporate documents central to a dispute over control of the organization. According to an April 24, 2026 court filing, Fleming said Wellington attorney Craig Galle created fraudulent operating agreements tied to Miss America, but that the evidence did not emerge until after she had agreed to a confidential settlement in January. The dispute had previously led the business into a brief bankruptcy proceeding. "In an effort to escape liability for the damages he caused, Galle manufactured documents to bolster his claims," Fleming said, arguing that the agreement should be voided because it was reached without knowledge of the alleged misconduct. Fleming is asking the U.S. District Court for the Southern District of Florida to rescind the settlement, asserting that the newly uncovered evidence fundamentally alters the basis on which the deal was reached. 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. MONTREAL MAINE: Canadian Pacific, et al., Wins Summary Judgment Bid ------------------------------------------------------------------- Chief Judge Peter G. Cary of the U.S. Bankruptcy Court for the District of Maine granted Canadian Pacific Railway Company and Soo Line Railroad Company's motion for summary judgment in the adversary proceeding captioned as ROBERT J. KEACH, solely in his capacity as the estate representative of the post-effective date estate of MONTREAL, MAINE & ATLANTIC RAILWAY, LTD., Plaintiff, v. CANADIAN PACIFIC RAILWAY COMPANY and SOO LINE RAILROAD COMPANY, Defendants, Adv. Proc. No. 14-1001 (Bankr. D. Me.) The non-movant in this case is plaintiff Robert J. Keach, the estate representative of the post-effective date estate of debtor Montreal, Maine & Atlantic Railway, Ltd. ("MMAR"). This adversary proceeding and the underlying bankruptcy case stem from a catastrophic train derailment that occurred on July 6, 2013 in Lac-Megantic, Quebec, resulting in one of the deadliest rail disasters in Canadian history. Since the derailment, the question of who is responsible and should pay for the resulting damages has narrowed to several rail entities: MMAR; Montreal, Maine & Atlantic Company ("MMAC"), a Canadian subsidiary wholly owned by MMAR; and Canadian Pacific Railway Company and Soo Line Railroad Company (collectively, "Canadian Pacific" or "CP"). Specifically, the crude oil involved in the derailment was extracted from the Bakken formation in North Dakota and was to be transported by rail from New Town, North Dakota through parts of Canada and Maine to its intended destination of St. John, New Brunswick. Since the early 2010s, Irving Oil Company G.P., a processor, vendor and the recipient of crude oil, has routinely purchased crude oil from World Fuel Entities ("World Fuels"). World Fuels was responsible for classifying which packing group the crude oil belonged to (based on its level of hazard) and labelling the tanks accordingly. The tank cars containing the crude oil at times were hauled by locomotives owned and operated by Canadian Pacific and at other times were hauled by locomotives owned and operated by MMAC. The rail tracks over which the crude oil was transported were owned by several different parties, including MMAR and MMAC, which -- despite being separate entities -- operated an integrated shortline freight railroad system and were run as a single company with the same management during the relevant time period leading up to the derailment. Canadian Pacific's locomotives transported the tank cars carrying the crude oil to Montreal where, on July 5, 2013, Canadian Pacific transferred them to MMAC, in accordance with Canadian Pacific's agreement with MMAC to act as the carrier for the final leg of the journey to St. John. Leaving Montreal, the train was handled and operated by only one person, locomotive engineer and MMAC employee Thomas Harding, in a practice known as "single person train operation," or "SPTO." During that leg of the trip, Mr. Harding reported to MMAC that the lead locomotive was experiencing mechanical difficulties that affected the ability of the train to maintain its speed. Rounding a curve in the track at the entrance to downtown Lac-Mégantic, sixty-three of the train's seventy-two cars derailed, spilling millions of liters of crude oil and causing a series of massive explosions that killed forty-seven people and destroyed the center of the town The Quebec Litigation Not surprisingly, litigation followed in various courts, including in Maine, in Quebec, and in North Dakota. A month after the derailment, MMAR filed for bankruptcy relief in this Court under Chapter 11 of the United States Bankruptcy Code, 11 U.S.C. Secs. 101–1532. Six months later, on January 30, 2014, Mr. Keach filed this adversary proceeding, seeking to recover from Canadian Pacific for damages incurred as a result of the derailment. Meanwhile, in Quebec, MMAC commenced insolvency proceedings, and several parties filed three separate actions against Canadian Pacific and MMAC. And, in the United States District Court for the District of North Dakota, Joe R. Whatley, Jr., the trustee for the wrongful death claimants of the accident, sued Canadian Pacific, alleging liability for the value of the train's crude oil. On December 14, 2022, the Quebec Superior Court issued a 169-page decision holding that Canadian Pacific had no legal liability for the derailment and finding instead that the actions of MMAC and its employee Mr. Harding caused the derailment. Specifically, the Superior Court found no fault on the part of Canadian Pacific related to risk assessments not performed, its choice of MMAC as a connecting carrier, or its alleged failure to address MMAC's operating practices. The Superior Court also found no causal link between Canadian Pacific's conduct of not checking the crude oil classification and the derailment. The plaintiffs then appealed the Superior Court's decision that Canadian Pacific was not liable for the derailment to the Quebec Court of Appeal. On February 25, 2025, the Quebec Court of Appeal issued a 67-page decision affirming the Superior Court of Quebec in all respects. Reviewing the Superior Court's analysis of the principles applicable to civil liability, the Quebec Court of Appeal upheld its conclusion that Canadian Pacific had no fault in the derailment. The Eighth Circuit Carmack Amendment Litigation In addition to the Quebec litigation, Canadian Pacific was also sued in the United States District Court for the District of North Dakota for damages under the Carmack Amendment to the Interstate Commerce Act. World Fuels, as the originating shipper of the crude oil, thus had Carmack Amendment claims against Canadian Pacific, the carrier. World Fuels assigned its Carmack Amendment claims against Canadian Pacific to Mr. Keach (MMAR's Chapter 11 trustee at the time) and MMAC as part of a settlement agreement pursuant to which World Fuels also paid $110 million to the MMAR bankruptcy estate. Mr. Keach then assigned the Carmack Amendment claims to Mr. Whatley, who commenced the Carmack Amendment litigation against Canadian Pacific. The assignment provided for retention of Mr. Keach to prosecute the assigned Carmack Amendment claims on behalf of Mr. Whatley. Extensive litigation then ensued concerning the bill of lading for the crude oil lost in the derailment and an expired contract between the parties for shipment of the crude oil. On July 3, 2025, the Eighth Circuit held that any Carmack Amendment judgment against Canadian Pacific for the value of the crude oil must be reduced to zero given the judgment reduction provision contained in the Plan. The judgment reduction provision prevented Canadian Pacific from asserting a contribution or indemnity claim against MMAR or any released party that settled with MMAR Operative Complaint The operative complaint before the Court, Mr. Keach's Third Amended Complaint (D.E. 230), pled four counts: Negligence (Count I), Breach of Contract (Count II), Negligent Representation (Count III), and Disallowance of Claim (Count IV). Canadian Pacific asserts that the application of the doctrine of res judicata bars the relitigation of Mr. Keach's remaining claims. Specifically, Canadian Pacific maintains that the Quebec judgment gives rise to both claim and issue preclusion in this proceeding, and that the North Dakota judgment results in issue preclusion in this proceeding. In Count I, Mr. Keach contends that Canadian Pacific conducted either no investigation and analysis, or a faulty investigation and analysis, or failed to ensure that some other responsible party had conducted a proper investigation and analysis to determine the properties of the crude oil. Similarly, Count III, Mr. Keach's claim for negligent misrepresentation, is based on Canadian Pacific allegedly supplying false information to MMAR in the bill of lading and failing to exercise reasonable care or competence in obtaining or communicating this information. Because the Quebec judgments were final judgments on the merits, there is an identity of parties between the Quebec litigation and this adversary proceeding, and the causes of action in the litigations are the same, the Quebec judgments preclude the Bankruptcy Court from reexamining Canadian Pacific's fault in the context of Mr. Keach's negligence and negligent misrepresentation claims. Thus Canadian Pacific is entitled to summary judgment on the two negligence theories raised in Count I and Count III. As pled, Mr. Keach's breach of contract claim asserts a breach of the bill of lading. Likewise, in the North Dakota litigation, Canadian Pacific's liability under the Carmack Amendment ultimately turned on the bill of lading. According to the Bankruptcy Court, Mr. Keach's litigation of the issues raised in Count II tills that same ground. Thus, there is the requisite identicality of issues required for the application of issue preclusion. The Bankruptcy Court concludes the preclusive effect of the Quebec and Carmack Amendment litigations forecloses Mr. Keach's basis for objecting to Canadian Pacific's claim, and Canadian Pacific is entitled to summary judgment on Count IV. A copy of the Court's Memorandum Decision and Order dated April 21, 2026, is available at https://urlcurt.com/u?l=sKEJDd About Montreal Maine Montreal, Maine & Atlantic Railway Ltd., operated the train that derailed and exploded in July 2013, killing 47 people and destroying part of Lac-Megantic, Quebec. The Company sought bankruptcy protection (Bankr. D. Maine Case No.13-10670) on Aug. 7, 2013, with the aim of selling its business. Its Canadian counterpart, Montreal, Maine & Atlantic Canada Co., meanwhile, filed for protection from creditors in Superior Court of Quebec in Montreal. Montreal, Maine & Atlantic Canada Co. ("MMA Canada"), the Canadian unit of Chapter 11 debtor Montreal, Maine & Atlantic Railway Ltd. ("MMA"), on July 20, 2015, filed Chapter 15 bankruptcy petition (Bankr. D. Maine Case No. 15-20518) in Portland, Maine, to seek recognition and enforcement in the U.S. of the order by the Quebec Court approving MMA Canada's plan to pay off victims of the July 2013 derailment. The law firm of Verrill Dana served as counsel to the Debtor. Robert J. Keach, Esq., at Bernstein, Shur, Sawyer, and Nelson, P.A., is the Chapter 11 trustee. Lindsay K. Zahradka and and D. Sam Anderson, Esq. served as his counsel. Development Specialists, Inc., served as his financial advisor; and Gordian Group, LLC, served as his investment banker. Justice Martin Castonguay oversaw the case in Canada. Andrew Adessky at Richter Consulting was named CCAA monitor. The CCAA Monitor was represented by Sylvain Vauclair at Woods LLP. MM&A Canada was represented by Patrice Benoit, Esq., at Gowling LaFleur Henderson LLP. The U.S. Trustee appointed a four-member official committee of derailment victims. The Committee was represented by lawyers at Perkins Olson; and Paul Hastings LLP. The unofficial committee of wrongful death claimants was represented by lawyers at Gross, Minsky & Mogul, P.A.; Murtha Cullina LLP; Meyers & Flowers, LLC; The Webster Law Firm; and Weller, Green Toups & Terrell LLP. The Debtor's Revised First Amended Plan of Liquidation, which created a C$446 million settlement fund for the benefit of all victims of the train derailment in 2013 that killed 47 people, became effective Dec. 22, 2015. MP OCTOPUS: To Sell Pizza Restaurant Assets to Mahesh Patel ----------------------------------------------------------- MP Octopus Pizza, LLC and its affiliates, along with applicable Debtor, MP Big Ben Pizza, LLC, seek permission from the U.S. Bankruptcy Court for the Middle District of Florida, Tampa Division, to sell substantially all Assets, free and clear of liens, claims, interests, and encumbrances. On March 23, 2026, the Debtor received a Letter of Intent from Mahesh Patel to purchase the Debtor’s equipment, fixtures, and furnishings (Assets) for a lump sum payment of $50,000.00 plus payment of outstanding royalties, payroll, standard closing expenses, and final utility and vendor bills. The sale is contingent on the Potential Purchaser entering into a new lease with the Debtor's current landlord and being approved as a franchisee by Marco's Franchising, LLC. Pursuant to the Confirmed Plan both Navitas Credit Corp. and Regions Bank d/b/a Ascentium Capital hold claims secured by the assets of the Debtor. Navitas' allowed claim of $8,050.00 is secured by three POS systems, a pizza preparation refrigerator, a refrigerated proofer, and a dough sheeter. Regions allowed claim of $170,000.00 is secured by all of the Debtor’s assets that are not liened by Navitas. The Debtor seeks authority from the Court to sell all of the Assets "as is" and "where is", free and clear of any potential liens, with valid and enforceable liens attaching to the proceeds of the sale. The proposed sale is on fair and equitable terms and is in the best interest of the bankruptcy estate and its creditors. The Potential Purchaser is a good faith purchaser and therefore is entitled to the protection. About MP Octopus Pizza LLC MP Octopus Pizza LLC, doing business as Marco's Pizza, filed Chapter 11 petition (Bankr. M.D. Fla. Case No. 24-06739) on November 15, 2024, with $50,001 to $100,000 in assets and $500,001 to $1 million in liabilities. Terry Burkholder, manager of MP Octopus Pizza, signed the petition. Judge Catherine Peek McEwen oversees the case. Buddy D. Ford, Esq., at Buddy D. Ford, P.A. is the Debtor's legal counsel. ConnectOne Bank is represented by Matthew A. Barish, Esq., at Cole Schotz, in Boca Raton, Florida; and James T. Kim, Esq., at Cole Schotz, in Hackensack, New Jersey. MTF HOLDINGS: Seeks to Extend Plan Exclusivity to Aug. 19 --------------------------------------------------------- MTF Holdings, LLC and affiliates asked the U.S. Bankruptcy Court for the Eastern District of Pennsylvania to extend their exclusivity periods to file a plan of reorganization and obtain acceptance thereof to August 19 and Oct. 19, 2026, respectively. The Debtors have met their burden of showing "good cause" to extend the Exclusivity Period because they have actively been engaged in developing a plan for their operations as a reorganized company and has performed their duties as Debtors in a timely manner to date. The Debtors explain that they have filed an omnibus motion to reject six contracts. The Debtors continue to cut other costs in order to maximize cash flow for operations. The Debtors plan on funding its Plan of Reorganization through operations. The Debtors continue to evaluate its financial position and determining whether it will further reject or assume the remaining leases. The Debtors believe that extending the Exclusivity Period to file a plan and solicit acceptances will further the interests of the Debtors and their estates by enabling the Debtors to refine their plan for business operations post-confirmation and complete negotiations with all of their different creditor constituencies. The Debtors believe that if the Exclusivity Period is not extended as requested, the Debtors' efforts to reorganize will be compromised. Further, the Debtors allege that no harm or prejudice will inure to the creditors of the Debtors if the Exclusivity Period is not extended. About MTF Holdings MTF Holdings, LLC is a privately held investment holding company that manages strategic investments across real estate, corporate equity, and alternative asset classes. The company is based in Lancaster, Pa., and engages in allocating capital and providing oversight to its portfolio businesses. MTF Holdings and five affiliates sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Pa. Lead Case No. 26-10236) on January 21, 2026. At the time of the filing, MTF Holdings listed between $500,001 and $1 million in assets and between $1 million and $10 million in liabilities. Judge Patricia M. Mayer oversees the cases. The Debtors are represented by: Albert Anthony Ciardi, III, Esq. Daniel S. Siedman, Esq. Sarah A. Moynihan, Esq. Ciardi Ciardi & Astin 1905 Spruce Street Philadelphia, PA 19103 Tel: 215-557-3550 aciardi@ciardilaw.com NELLIS CAB: Court OKs Bid Rules for Transportation Asset Sale ------------------------------------------------------------- The U.S. Bankruptcy Court for the District of Nevada has granted Nellis Cab LLC and its affiliate, Sun Cab Inc., to sell Property at auction, free and clear of liens, claims, interests, and encumbrances. The Debtor has employed Force 10 Advisors, LLC to market and sell the Property. The Debtors' Property is comprised of vehicles, FCC frequencies, taxi medallions, safes, intellectual property, and related assets. The Debtors’ business has been operating in the face of considerable competitive forces, such as rideshare services (such as Uber and Lyft) and driverless services (such as Waymo), with their accompanying technological innovations and reduced barriers to entry for a significant time. The Debtors believe it is best to accelerate the sale process, with the previous purchaser Peteglo LLC as the likely stalking horse bidder. The Court has authorized the Debtor to conduct a Bidding Procedure for the sale of the Property. The auction sale hearing will be held at the Bankruptcy Court on May 5, 2026 at 9:30 a.m., at the Foley Federal Building, 333 Las Vegas Blvd. S., Las Vegas, Nevada 89101; Courtroom 1. All objections, reservations of rights, and responses to the relief requested in the Motion that have not been withdrawn, waived, or settled as announced to the Court at the Hearing or by stipulation filed with the Court, are overruled. The Bidding Procedures are approved as provided. The Bidding Procedures shall govern the submission of bids for the purchase of the Property of the Debtors. The Debtors are authorized to take all actions necessary or appropriate to implement the Bidding Procedures. The consummation of any Sale shall remain subject to entry of a further order of the Court. About Nellis Cab LLC Nellis Cab LLC provides taxi transportation services in Las Vegas, Nevada, and has been operating in the region for more than 60 years. Nellis Cab LLC filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. D. Nev. Case No. 25-17375) on Dec. 5, 2025, listing $1 million to $10 million in assets and $100,000 to $500,000 in liabilities. The petition was signed by Michelle Langille as manager. Judge August B Landis presides over the case. Samuel A. Schwartz, at SCHWARTZ LAW, PLLC, is the Debtor's counsel. NEW GOLD: Moody's Withdraws 'B2' CFR Following Coeur Transaction ---------------------------------------------------------------- Moody's Ratings withdrew all of New Gold Inc.'s (New Gold) ratings following the completion of an exchange offer by Coeur Mining, Inc. (Ba2 Stable). The ratings withdrawn include New Gold's B2 corporate family rating, B2-PD probability of default rating and B3 senior unsecured rating. Previously, the ratings were on review for upgrade. Additionally, Moody's withdrew the SGL-1 speculative grade liquidity rating (SGL). The outlook prior to the withdrawal was rating under review. RATINGS RATIONALE Coeur Mining, Inc. completed the acquisition of New Gold in March 2026 and in April 2026 completed an exchange offer and consent solicitation for New Gold's senior notes. Nearly all of New Gold's senior notes were exchanged for senior notes issued by Coeur Mining, with less than $15 million of total New Gold senior notes left outstanding. Concurrent with the exchange offer, Coeur Mining solicited and received the requisite consents from its note holders to amend certain covenants, including eliminating separate financial reporting requirements for New Gold. As a result, New Gold will no longer provide standalone audited financial statements. Moody's have decided to withdraw the rating(s) because Moody's believes Moody's have insufficient or otherwise inadequate information to support the maintenance of the rating(s). NINE ENERGY: Advisory Firms Justify Fees in Chapter 11 ------------------------------------------------------ Clara Geoghegan of Law360 reports that three advisory firms that guided Nine Energy through its expedited Chapter 11 proceedings in Texas are defending requests for $5.7 million in professional fees, disputing a creditor's objections. The firms contend that their efforts were instrumental in ensuring a smooth and rapid restructuring process. According to their filings, the case demanded significant resources due to its speed and complexity, with teams working under tight deadlines to preserve enterprise value. The advisers highlighted that their work included restructuring negotiations, financial analysis, and court-related services that enabled the company to emerge from bankruptcy efficiently. The firms also rejected allegations that their fees were excessive, stating that the charges were justified by the scope of work and the outcome achieved. They asked the court to overrule the objections and grant full approval of their compensation requests, the report states. About Nine Energy Service Nine is a leading oilfield services business that supplies cutting edge solutions for unconventional oil and gas resource extraction and development across North America and abroad. Nine's culture is driven by an intense focus on performance and wellsite execution as well as a commitment to forward-leaning technologies that aid the development of smarter, customized applications that drive efficiencies and reduced emissions for customers. Nine is headquartered in Houston, Texas with operational reach that extends across all major onshore basins in the United States and Canada. On the Web: http://www.nineenergyservice.com/ Nine Energy Service, Inc., and its subsidiaries sought Chapter 11 protection (Bankr. S.D. Tex. Lead Case No. 26-90295) on Feb. 1, 2026. Nine is advised in this matter by Kirkland & Ellis LLP and Kane Russell Coleman Logan PC as legal counsel, Moelis & Company as investment banker and FTI Consulting as financial and communications advisors. Epiq is the claims agent. Judge Christopher M. Lopes oversees the case. Certain noteholders under the Company's senior secured notes indenture are advised by Milbank LLP as legal counsel and Houlihan Lokey as investment banker. White Oak Commercial Finance, LLC, as DIP Agent, is advised by Paul Hastings LLP as legal counsel and Blake, Cassels & Graydon LLP, as Canadian counsel. NORTHERN ILLINOIS UNIVERSITY: Moody's Cuts Issuer Rating to Ba1 --------------------------------------------------------------- Moody's Ratings has downgraded Northern Illinois University, IL's (NIU) issuer and revenue bond ratings to Ba1 from Baa3 and the outstanding certificates of participation (COPs) rating to Ba2 from Ba1. The outlook has been revised to stable from negative. Roughly $301 million of debt was outstanding as of fiscal 2025. The downgrade to Ba1 reflects the university's weakening of operating results which resulted in less than 1x debt service coverage (Moody's adjusted). Multiple years of spending growth leading to deficit operations and a material decline in unrestricted liquidity is a governance challenge and driver of this rating action. RATINGS RATIONALE The downgrade of the issuer rating to Ba1 reflects a difficult operating environment as wage pressures and increased spending continue to weigh on operating results, contributing to a significant weakening in fiscal 2025. Multiple years of weak operating results has led to a significant decline in unrestricted liquidity and collective bargaining agreements constrain flexibility. Improvement will depend on NIU's ability to control expenses and build back liquidity amid what will likely be modest revenue increases. Additionally factored into NIU's rating is its moderately large scale with over 13,000 FTE enrollment and high financial leverage. The university generated less than 1x debt service coverage on its outstanding debt service obligations in fiscal 2025 (Moody's adjusted). With capitalized interest and no amortization on the Series 2024 COPs through fiscal 2026, the university has time to strengthen fiscally before its new debt service obligations begin. Credit strengths include expanded enrollment and financial aid opportunities, which offers prospects for greater budgeted revenue predictability. The Ba1 rating on the auxiliary facilities system revenue bonds incorporates the university's Ba1 issuer rating as well as the broadness of the pledge and available financial reserves. The Ba2 rating on the certificates of participation reflects the issuer rating, the contingent nature of the obligation, the relative subordination to the auxiliary facilities system revenue bonds, and limited unrestricted liquidity. RATING OUTLOOK The stable outlook reflects expectations for the maintenance of close to breakeven operations with EBIDA sufficient to provide for adequate debt service coverage. It incorporates maintenance of wealth and liquidity levels with no substantial new debt. FACTORS THAT COULD LEAD TO AN UPGRADE OF THE RATINGS -- Sustained strengthening of operating performance and debt service coverage -- Strengthening of liquidity -- Continued improvement in the state's fiscal condition and sustained financial support for higher education improving NIU's operating environment -- Enrollment and net tuition revenue growth FACTORS THAT COULD LEAD TO A DOWNGRADE OF THE RATINGS -- Inability to strengthen operating performance in fiscal 2027 resulting in at least 1x debt service coverage -- Further deterioration of monthly liquidity beyond projections -- Further weakening of management credibility exhibited through financial performance that doesn't align with guidance -- Weakening of the State of Illinois' fiscal condition resulting in uncertainty surrounding direct operating support and on-behalf payments -- Further distancing between the issuer rating and the COPs could occur with a sustained deterioration of Legally Available Non-Appropriated Funds PROFILE Northern Illinois University is a multi-campus public university with its main campus in the City of DeKalb, IL, and satellite campuses that primarily serve graduate students. The university has a broad array of undergraduate and graduate academic programs, including concentrations in education, business, engineering, health and human science, law, and visual and performing arts. Fall 2024 full-time equivalent enrollment was 13,858 students. METHODOLOGY The principal methodology used in these ratings was Higher Education published in July 2024. NRPF GROUP: Court OKs Bid Rules for Restaurant Biz Sale ------------------------------------------------------- The U.S. Bankruptcy Court for the Northern District of Georgia, Atlanta Division, has permitted NRPF Group Two LLC and its affiliates, to sell Property, free and clear of liens, claims, interests, and encumbrances. The Debtors are Applebee's Neighborhood Bar & Grill franchise operators with restaurants in Florida, Georgia, and Alabama. After a period of growth in 2012 during which the Debtors acquired sixty-five Applebee's restaurants, the Debtors' financial performance deteriorated due to softening consumer demand, the effects of the COVID19 pandemic, and persistent inflationary pressures across the restaurant industry. Facing these financial headwinds, the Debtors engaged Citizens Bank in early 2025 to market the restaurants for sale. Citizens Bank contacted more than eighty potential buyers, but was unable to secure any willing purchaser due in part to unfavorable lease economics and the need for concessions from landlords and the Franchisor. Undeterred, the Debtors continued to pursue a going-concern solution with an attempt, as set forth above, to negotiate an agreement with Equity Bank to facilitate an acquisition with the Franchisor to acquire approximately 54 restaurants pursuant to an out of court restructuring process. Those negotiations proved unsuccessful, and looming cash flow issues forced the Debtors to seek relief under chapter 11. The Debtors received a form stalking horse asset purchase agreement from Applebee's Restaurants Mid-Atlantic LLC for the purchase of substantially all of the Debtors' restaurant assets, including restaurant assets located on real estate owned by the Debtors in Ozark, Alabama. The Court has approved the Bidding Procedures are approved, incorporated by reference, and shall govern the Bids and proceedings related to any sale of the Assets and the Auction (if any) in all respects. The procedures and requirements set forth in the Bidding Procedures, including those associated with submitting a Qualified Bid, are fair, reasonable, and appropriate, and are designed to maximize recoveries for the benefit of the Debtors' estates, creditors, and other parties in interest. The Debtors are authorized to take any and all actions necessary or appropriate to implement the Bidding Procedures. The failure to specifically include or reference any particular provision of the Bidding Procedures in the Motion or this Order shall not diminish or otherwise impair the effectiveness of such procedures, it being the Court’s intent that the Bidding Procedures are approved in their entirety, as if fully set forth in the Order. Subject to this Order and the Bidding Procedures, the Debtors, in the exercise of their reasonable business judgment and in a manner consistent with their fiduciary duties and applicable law, in consultation with the Consultation Party, shall have the right to, in each case with respect to any Assets being sold pursuant to the Bidding Procedures If the Debtors, in consultation with the Consultation Party, determine not to conduct an Auction for the Assets, then the Debtors shall file a notice with the Court of such determination within one business day of making such determination. The Debtors shall consult with the Consultation Party in good faith regarding the sale process for the Assets and the Sale Transactions, including evaluation of any and all Bids, scheduling and operation of the Auction (if applicable), and selection of a Winning Bid, as well as any modifications of the Bidding Procedures. The Debtors are authorized to enter into the Stalking Horse Agreement with Applebee's Restaurants Mid-Atlantic LLC for the purchase and sale of the Assets. In the event of an Auction, any cure amounts that the Stalking Horse Bidder has previously agreed to with contract counterparties in connection with the assumption and assignment of leases or executory contracts, to the extent the Stalking Horse Bidder has notified the Debtors and the Committee in writing of its intent to assume such leases or contracts on or prior to the deadline set forth in the Bidding Procedures, shall be deemed included in the value offered under the Stalking Horse Agreement for purposes of calculating the Initial Assets Overbid threshold. About NRPF Group Two, LLC NRPF Group Two, LLC is a business entity that operates as part of a broader investment or real estate holding structure, managing assets and financial interests. The company focuses on overseeing investments and maintaining portfolio holdings. NRPF Group Two, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-53945) on March 24, 2026. In its petition, the Debtor reports estimated assets between $0 and $100,000 and estimated liabilities between $10 million and $50 million. Honorable Bankruptcy Judge Sage M. Sigler handles the case. The Debtor is represented by Ashley Reynolds Ray, Esq. of Scroggins, Williamson & Ray, P.C. NXT ENERGY: Gerry Sheehan Named CEO; Former CEO Stays on Board -------------------------------------------------------------- NXT Energy Solutions Inc. has appointed Gerry Sheehan as Chief Executive Officer, effective April 20, 2026. Mr. Sheehan is a professional geologist, geophysicist and executive manager serving as a director of NXT since 2021. Mr. Sheehan's experience and relationships will add great value to NXT as the company scales up its survey activities in areas of substantial potential in a world demanding new sources of oil and gas. His 40 years of experience have included early-stage oil and gas basin evaluation, field appraisal and development, satellite remote sensing and non-conventional resource assessments working with government, large and small E&P independents, State oil companies and regulators. His technical and business development experience in Africa, South Asia, and Europe aligns with NXT's growth initiatives. Mr. Sheehan's many accomplishments include being a founding member of the technical team of Tullow Oil Plc for almost 20 years where he served as International Exploration Manager from 1998 to 2004 directing technical activities on wide geographies including North and West Africa, the Indian subcontinent and Europe. Mr. Sheehan succeeds Bruce G. Wilcox, who is retiring, but remaining on the board of directors, having served as CEO since 2023. NXT is embarking upon the third major stage in the company's evolution. The first was the development and demonstration of the efficacy of stress field detection, under inventor and former CEO George Liscicasz, resulting in patents in 47 countries. The second was a critical stage of contract and revenue growth, under Mr. Wilcox, based upon his many years in the financial industry. The third under Mr. Sheehan will expand services, resources, geographies and clients for NXT. Like Mr. Sheehan, Mr. Wilcox stepped up from the board of directors to the CEO position. NXT has a highly focused management team and board that are in continuous active engagement. Mr. Wilcox said, "It has been my privilege to lead NXT through a transformational period over the last three years. Gerry is a seasoned, industry-recognized geophysicist and has extensive operational executive experience in the energy sector in our core jurisdictions and prospective geographies. The NXT board and I believe his skill set is ideal for advancing our operations and financial progress." About NXT Energy NXT Energy Solutions Inc. is a Calgary-based technology company whose proprietary SFD survey system utilizes quantum-scale sensors to detect gravity field perturbations in an airborne survey method. This system can be used both onshore and offshore to remotely identify areas with exploration potential for traps and reservoirs. The SFD survey system enables the Company's clients to focus their hydrocarbon exploration decisions concerning land commitments, data acquisition expenditures, and prospect prioritization on areas with the greatest potential. SFD is environmentally friendly and unaffected by ground security issues or difficult terrain and is the registered trademark of NXT Energy Solutions Inc. NXT Energy Solutions provides its clients with an effective and reliable method to reduce time, costs, and risks related to exploration. Calgary, Canada-based MNP LLP, the Company's auditor since 2023, issued a "going concern" qualification in its report dated March 31, 2026, citing that the Company's current cash position is not expected to be sufficient to meet the Company's obligations and planned operations for a year beyond the date of auditor's report, unless additional financing is obtained or new revenue contracts are completed. This raises substantial doubt about the Company's ability to continue as a going concern. As of December 31, 2025, the Company had C$19.3 million in total assets, C$4.4 million in total liabilities, and C$14.9 million in total stockholders' equity. OEM PLUS: Seeks Chapter 7 Bankruptcy in California -------------------------------------------------- On April 26, 2026, OEM Plus Inc. filed for Chapter 7 protection in the U.S. Bankruptcy Court for the Central District of California. According to court filings, the Debtor reports between $100,001 and $1,000,000 in debt owed to 1–49 creditors. A meeting of creditors under Section 341(a) to be held on May 28, 2026 at 08:00 AM via Zoom - Kosmala: Meeting ID 698 547 1254, Passcode 2419141007, Phone 1 657 222 4631. About OEM Plus Inc. OEM Plus Inc. is a business entity engaged in commercial operations, though specific details regarding its core business activities are not publicly disclosed in the filing. Oem Plus Inc. sought relief under Chapter 7 of the U.S. Bankruptcy Code (Bankr. Case No. 26-11289) on April 26, 2026. In its petition, the Debtor reports estimated assets ranging from $0 to $100,000 and estimated liabilities ranging from $100,001 to $1,000,000. Honorable Bankruptcy Judge Scott C. Clarkson handles the case. The Debtor is represented by Kevin Tang, Esq. of Tang & Associates. OLIVER PARK: Unsecureds to be Paid in Full via Quarterly Payments ----------------------------------------------------------------- Oliver Park Apartments, LLC submitted an Amended Disclosure Statement for Amended Plan of Reorganization dated April 20, 2026. The Debtor owns a 14-unit apartment complex located 740 Cooper Street, SW, Atlanta, Georgia (the "Property"). The Debtor's sole member and the manager of the Debtor is Ms. Olivia Chevannes. Ms. Chevannes and her husband, Deval Oliver, operate the Debtor as well as several other entities that own apartment complexes. The Debtor purchased the Property in 2019, renovated all 14 units, and then on March 24, 2021 refinanced with the predecessor to the current secured lender, who assigned the note to the current secured lender, U.S. Bank National Association, as Trustee for the registered holders of J.P. Morgan Chase Commercial Mortgage Securities Corp., Multifamily Mortgage Pass-through Certificates, Series 2021-SB87 ("US Bank") on the same date. After the refinance, a major water leak destroyed half of the units, and the Debtor had to renovate those units all over again. The Debtor's principals had to personally fund the renovations after the leak, through their own funds and with funds from two other entities in which Ms. Chevannes has an ownership interest, OC Management, LLC and Oliver Capital Group, LLC. This left the principals without capital to fund their other projects and several other entities owned by Ms. Chevannes have also filed chapter 11 cases to reorganize their debts. As of the Petition Date the Debtor had tenants in six units. Currently the Debtor has tenants in eight units. OC Management has been working to secure a contract with a community organization that will place tenants in the vacant units and help subsidize the tenants' rent. The Debtor believes that the contract will be finalized soon. Class 1 shall consist of the Secured Claim of U.S. Bank National Association, as trustee for the registered holders of J.P. Morgan Chase Commercial Mortgage Securities Corp., Multifamily Mortgage Pass-Through Certificates, Series 2021-SB87 ("US Bank"). US Bank filed a proof of claim in the amount of $1,419,257.71 ("Secured Class 1 Claim"). To secure its claim, US Bank asserts a first priority lien upon and security interest in the Debtor's real property located at 740 Cooper Street, SW, Atlanta, Georgia and certain revenues therefrom (the "Class 1 Collateral"). US Bank shall retain its lien on the Class 1 Collateral and the lien shall be valid and fully enforceable to the same validity, extent and priority as existed on the Petition Date. The Debtor shall pay the Secured Class 1 Claim, which shall include accrued interest and attorney's fees, amortized over a 30-year period with interest accruing at an annual interest rate of 8% from the Effective Date with payments commencing on the 10th of the month following the Effective Date in the approximate amount of 10,823.00. On or before the date that is four years from the date of the first payment due under this Plan, Debtor shall pay the remaining outstanding balance of the Secured Class 1 Claim in full. Any payments in excess of the aforementioned monthly payment after the Effective Date shall be applied to the principal balance of the Secured Class 1 Claim. Any payments made prior to the Effective Date and post-petition shall be applied to the principal balance of the Secured Class 1 Claim. Class 2 shall consist of the secured claim of the U.S. Small Business Association (the "SBA"). The SBA has filed a proof of claim in the amount of $156,703,79 (the "Secured Class 2 Claim"). To secure its claim, the SBA asserts a first priority lien upon and security interest in the Debtor's tangible and intangible personal property (the "Class 2 Collateral"). The SBA filed UCC No. 038-2020-080631 on August 22, 2020, as continued by UCC No. 038-2025-055749. The SBA loan accrues interest at the rate of 3.75% and has a maturity date of August 10, 2050. The monthly payments under the note are $731.00. Debtor shall pay the Secured Class 2 Claim in accordance with the applicable underlying agreement and non-bankruptcy law. The lien held by the SBA shall continue in full force and effect until such time as the lien is paid in full. Class 3 shall consist of the Secured Claim of the City of Atlanta Department of Watershed Management. Watershed filed a Proof of Claim in the amount of $31,139.84 secured by a statutory lien pursuant to O.C.G.A. Section 36-60-17 (the "Secured Class 3 Claim"). The Debtor shall pay the Secured Class 3 Claim with interest accruing at an annual rate of 7% beginning on the Effective Date in equal monthly payments over 36 months in the amount of $961.51 beginning on the 1st of the month following the Effective Date. The Debtor estimates, based on its schedules and proofs of claims that have been filed, that there will be approximately $250,508.34 in allowed general unsecured claims, excluding any claims of insiders. The Debtor proposes to pay General Unsecured Creditors in full in equal quarterly payments of $10,437.85 over 24 quarters. The cash distributions contemplated by the Plan shall be funded by cash generated from the operation of the Property as well as the capital contributions from Ms. Chevannes and her husband, Val Oliver. Mr. Oliver has secured funds from friends and family for the capital contributions. The Debtor anticipates that the principals will need to contribute just under $35,000.00 through the end of 2026. Mr. Oliver and Ms. Chevannes plan to deposit at a minimum that amount into the Debtor in Possession bank account prior to the confirmation hearing. The capital contribution will continue to help fund the payments under the Plan until the Property is self-sustaining. Ms. Chevannes and Mr. Oliver will continue to make capital contributions as needed. Oliver Capital Group, LLC shall provide funds to make the Class 2 payments to the SBA. Oliver Capital Group, LLC has made the payments to the SBA since the inception of the loan via ACH withdrawals and will continue to do so post confirmation. A full-text copy of the Amended Disclosure Statement dated April 20, 2026 is available at https://urlcurt.com/u?l=KnYYO4 from PacerMonitor.com at no charge. Counsel to the Debtor: William A. Rountree, Esq. Elizabeth Childers, Esq. ROUNTREE LEITMAN KLEIN & GEER, LLC Century Plaza I 2987 Clairmont Road, Suite 350 Atlanta, GA 30329 Telephone: (404) 584-1238 Email: wrountree@rlkglaw.com echilders@rlkglaw.com About Oliver Park Apartments Oliver Park Apartments LLC leases residential real estate properties. Oliver Park Apartments sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ga. Case No. 25-60028) on Sept. 1, 2025. In its petition, the Debtor reported up to $50,000 in assets and between $1 million and $10 million in liabilities. Judge Sage M. Sigler oversees the case. The Debtor is represented by William Rountree, Esq., at Rountree, Leitman, Klein & Geer, LLC. ONYX PORTFOLIO: To Sell Houston Property to Michelle Cabanillas --------------------------------------------------------------- Onyx Portfolio, LLC seeks permission from the U.S. Bankruptcy Court for the Southern District of Texas, Houston Division, to sell Property, free and clear of liens, claims, interests, and encumbrances. The Debtor is a real estate holding company which owns and operates 42 single family homes (Properties) in various suburban communities in Houston, Texas. On or before June 30, 2022 the Debtor entered into a secured financing transaction with Ice Lender Holdings, LLC in the original principal amount of $6,000,000.00 with the Properties as collateral. The Loan was subsequently assigned to HFC Holdings 1, LLC. The Debtor received an offer for the purchase of one of the Properties located at 10318 Crescent Moon Drive in the amount of $230,000.00 from Michelle Cabanillas. On April 6, 2026, the Debtor and the Buyer entered into a One to Four Family Residential Contract dated April 6, 2026 for the sale of the Crescent Moon property in the amount of $265,000.00. The sale price represents the highest value of Crescent Moon in its current condition and under current real estate market conditions of similar properties located in Houston, Texas. The proposed sale is an "arm's length" transaction. The Debtor believes the sale of Crescent Moon is in the best interest of the estate. About Onyx Portfolio LLC Onyx Portfolio LLC sought protection under Chapter 11 of the Bankruptcy Code (Bankr. S.D. TX Case No. 26-30080) on January 5, 2026. At the time of the filing, Debtor had estimated assets of between $1,000,001 and $10 million and liabilities of between $1,000,001 and $10 million. Judge Jeffrey P. Norman oversees the case. Susan Tran Adams is Debtor's legal counsel. PALLIATIVE CARE: Seeks Chapter 7 Bankruptcy in California --------------------------------------------------------- On April 26, 2026, Palliative Care Provider, Socal, Inc. filed for Chapter 7 protection in the U.S. Bankruptcy Court for the Central District of California. According to court filings, the Debtor reports between $100,001 and $1,000,000 in debt owed to 1–49 creditors. A meeting of creditors under Section 341(a) to be held on June 3, 2026 at 09:30 AM via Zoom - Goldman: Meeting ID 630 029 1769, Passcode 3548121645, Phone 1 747 285 4196. About Palliative Care Provider, Socal, Inc. Palliative Care Provider, Socal, Inc. is a healthcare services company focused on delivering palliative care and supportive medical services to patients with serious illnesses. Palliative Care Provider, Socal, Inc. sought relief under Chapter 7 of the U.S. Bankruptcy Code (Bankr. Case No. 26-10885) on April 26, 2026. In its petition, the Debtor reports estimated assets ranging from $0 to $100,000 and estimated liabilities ranging from $100,001 to $1,000,000. Honorable Bankruptcy Judge Victoria S. Kaufman handles the case. The Debtor is represented by Paige T. Rolfe, Esq. of Weintraub Zolkin Talerico & Selth LLP. PARAMOUNT ROOFING: Hearing Today on Bid to Use Cash Collateral -------------------------------------------------------------- The U.S. Bankruptcy Court for the District of New Mexico is set to hold a hearing today to consider final approval of Paramount Roofing, LLC's bid to use cash collateral. The Debtor's authority to use cash collateral under the court's April 20 interim order expires today. The interim order approved the payment of expenses from the cash collateral in accordance with the Debtor's three-month budget and granted JPMorgan Chase Bank, N.A. a replacement lien on all post-petition collateral, with the same priority as its pre-petition liens. The interim order also approved the Debtor's $1,600 payment to JPMorgan covering March and April as additional protection. About Paramount Roofing Paramount Roofing, LLC operates a roofing company providing new roof construction, roof repairs and storm damage restoration services for residential and commercial properties. Paramount Roofing filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. D. N.M. Case No. 26-10274) on March 2, 2026, listing assets of between $100,001 and $500,000 and liabilities of between $500,001 and $1 million. Daniel Behles, Esq., at 709 Consulting, LLC serves as Subchapter V trustee. Judge Robert H. Jacobvitz oversees the case. The Debtor tapped Gerald R. Velarde, Esq., at Velarde & Yar as legal counsel and Burgmaier & Associates, Inc. as accountant. PERFECT CHOICE: Carol Fox of GlassRatner Named Subchapter V Trustee ------------------------------------------------------------------- The Acting U.S. Trustee for Region 21 appointed Carol Fox of GlassRatner as Subchapter V trustee for Perfect Choice Roofing, Inc. Ms. Fox will be paid an hourly fee of $450 for her services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Ms. Fox declared that she is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Carol Fox GlassRatner 200 East Broward Blvd., Suite 1010 Fort Lauderdale, FL 33301 Tel: 954.859.5075 Email: cfox@brileyfin.com About Perfect Choice Roofing Inc. Perfect Choice Roofing, Inc. is a Pembroke Pines, Florida-based roofing contractor founded in 2017. It serves residential and commercial customers in Miami-Dade, Broward and Palm Beach counties, and provides roof replacement, roof repair and preventive maintenance. Peter Vargas is the president and sole owner. Perfect Choice Roofing sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 26-14538) on April 13, 2026. In the petition signed by Peter Vargas, vice president, the Debtor disclosed up to $500,000 in assets and up to $10 million in liabilities. Michael Hoffman, Esq., at Lessne Hoffman, PLLC, represents the Debtor as legal counsel. PRINCE GLOBAL: Foreign Representatives Win Provisional Relief Bid ----------------------------------------------------------------- Chief Judge Martin Glenn of the U.S. Bankruptcy Court for the Southern District of New York granted the motion filed by Prince Global Holdings Limited's Foreign Representatives for provisional relief under section 1519 of the Bankruptcy Code. Prince Global Holdings Limited, Auspicious Tycoon Limited, Bright Team Global Limited, Delightful Thrive Limited, Even Sincerity Limited, Fulam Investment Limited, Giant Victory Holdings Limited, Golden Ascend International Limited, Harmonic State Limited, Luminous Glow Limited, Mighty Divine Limited, Noble Title Limited, Oriental Charm Holdings Investment Limited, Pacific Charm Holdings Investment Limited, Praise Marble Limited, Prince Global Group Limited, Respectful Steed Limited, Retain Prosper Limited, Simply Advanced Limited, Southern Heritage Limited, Star Merit Global Limited, Starry Bloom Limited, Sure Tycoon Limited, Towards Sunshine Limited, and United Riches Global Limited (the "Objecting Debtors") filed an objection to the provisional relief motion. Amber Hill Ventures Limited ("Amber Hill") and Lateral Bridge Global Limited ("Lateral Bridge") also filed an objection to the motion. Prince Group Holdings Limited and its affiliated debtors (collectively, the "Debtors") are entities incorporated in the British Virgin Islands ("BVI") as a business company pursuant to the BVI Business Companies Act, 2004, which is a form of limited liability company comparable to a corporation under U.S. law. The Debtors did not operate independently, rather they were part of a complex corporate structure that Prince Group employed to hold real property, investments, financial accounts, and assets around the world. Chen Zhi served as Chairman of the Prince Group since 2015, which operated more than 100 business entities in over 30 countries. Mr. Chen has been a citizen of China, Cambodia, Vanuatu, St. Lucia, and Cyprus, and resided at various times in in Cambodia, Singapore, Taiwan, and the United Kingdom. Mr. Chen is the sole shareholder and director of several of the Debtors, while others are held via intermediate holding companies or are registered by individuals associated with Mr. Chen or the Prince Group. The Prince Group was purportedly focused on real estate development, financial services, consumer services, technology, food and beverages, and lifestyle businesses. However, Mr. Chen and his associates allegedly grew the Prince Group into one of the largest transnational criminal organizations in Asia. It operated publicly disclosed businesses in Cambodia including Prince Real Estate Group, Prince Huan Yu Real Estate Group, Prince Bank, and Awesome Global. On October 14, 2025, Mr. Chen, the alleged chairman and key figure of the Prince Group, was charged by the DOJ with wire fraud conspiracy and money laundering conspiracy. Chen was allegedly responsible for overseeing the operation of the Prince Group's forced-labor scam compounds that stole billions of dollars from people across the world. The scams involved cryptocurrency investment fraud and other schemes that leveraged the Prince Group's network of businesses to launder the illegal proceeds of criminal activity. The Prince Group's fraud scheme targeted victims in the United States and across the globe. On October 14, 2025, the United States Attorney's Office for the Eastern District of New York and the DOJ's National Security Division filed a civil forfeiture complaint (the "Forfeiture Complaint") against the Prince Group in the U.S. District Court of Eastern District of New York. The action sought forfeiture of about 127,271 Bitcoin worth an estimated $8.7 billion. The funds are alleged to be proceeds of the Prince Group's fraud and money laundering schemes. In addition, on October 14, 2025, the Prince Group, Mr. Chen, and 146 associated individuals and entities were sanctioned by the Office of Foreign Assets Control ("OFAC"), the Financial Crimes Enforcement Network ("FinCEN"), and the United Kingdom's Foreign, Commonwealth and Development Office. The United Kingdom's sanctions were automatically extended and adopted by BVI and the Cayman Islands in their capacities as British Overseas Territories due to the Overseas Territories Orders in Council. Mr. Chen was arrested in Cambodia and extradited to China on January 6, 2026, and remains in Chinese Custody. BVI Insolvency Proceedings and Appointment of JPLs Pursuant to section 162(1)(c) of the BVI Insolvency Act, 2003 (the "BVI Insolvency Act") the Attorney General of the BVI is permitted to seek the appointment of a liquidator on public interest grounds. January 5, 2026, the Attorney General of the BVI, Dawn J. Smith (the "BVI Attorney General"), applied to the BVI Court for the appointment of the JPLs as liquidators pursuant to sections 162(1)(a) and (c) of the BVI Insolvency Act (the "Liquidation Applications"). The BVI Attorney General also sought the appointment of the JPLs as provisional liquidators of the Debtors pursuant to section 170 of the BVI Insolvency Act. Following an ex parte hearing on January 9, 2026, the Honorable Justice Abbas Mithani of the BVI Court granted orders (collectively, the "BVI Orders"), which appointed the JPLs as provisional liquidators of the Debtors. The JPLs displaced the Debtors' prior directors and officers, and exclusive authority over the affairs and assets of the Debtors is now vested in the JPLs. (Id. ¶ 42.) The BVI Orders vest the JPLs with broad authority, including the authority to seek relief in the United States to protect the Debtors' estates. On January 29, 2026, the BVI Court continued the BVI Orders pending final determination of the Liquidation Applications which was scheduled for hearing April 16–17, 2026, but has now moved to early May. The JPLs commenced an investigation into the Debtors' financial affairs and assets pursuant to their powers under the BVI Orders to protect and retrieve the assets and records of the Debtors if necessary. The Foreign Representatives claim that the JPLs have limited visibility into the Debtors' assets as the Prince Group has deliberately obfuscated its corporate structure and books and records. Accordingly, the JPLs' knowledge of the Debtors' financial affairs and assets is primarily based upon publicly available information. The JPLs have engaged with the Debtors' former registered agent, and various regulatory and law enforcement authorities across multiple jurisdictions. Chapter 15 Relief The Foreign Representatives argue that, absent the requested relief, the JPLs' investigation of the Debtors would be jeopardized as they would be unable to obtain records, communications, contracts, account information, and transactional documents located in the United States or held by U.S. counterparties, their ability to investigate the Debtors' affairs and the Prince Group's use of U.S. financial infrastructure. There is also a risk to sanctions relief that has been obtained thus far, as the relief is predicated upon the JPLs' status as court-appointed fiduciaries. Absent recognition, the JPLs standing in the U.S. would be uncertain. The Foreign Representatives further contend that the Debtors are likely to qualify for recognition as a foreign main proceeding, as the Debtors were formed under the laws of the BVI, have continuously maintained their registered offices there, and the JPLs are administering the Debtors under the supervision of the BVI Court. The Foreign Representatives submit that the requested provisional relief pending recognition is necessary. The Objecting Debtors contend that the JPLs have been kept them "in the dark" regarding the activities they have taken with respect to the Debtors' assets. The Objecting Debtors contend that the ex parte relief sought by the JPLs falls outside of that which is authorized by section 1519 of the Code. The Objecting Debtors also claim that the requested relief poses due process concerns to non-Debtors, as the JPLs do not specify to which non-debtors are to benefit from this protection. The protections granted by the BVI Court do not apply to non-debtors and the Objecting Debtors request that the Court deny the requested relief. The Court finds the Foreign Representatives have met their burden for provisional relief under section 1519 of the Code. According to the Court, the BVI Proceeding is likely a "foreign proceeding" within the meaning of section 101(23) for the Code. The Objecting Debtors contend that the BVI Proceeding is not a "foreign proceeding" because it is not collective and because it was initiated for investigative purposes and not for reorganization or liquidation. However, the BVI Proceeding was initiated under the BVI Insolvency Act with the express purpose of liquidating the Debtors. The JPLs have the power to pay classes of creditors in full, and to compromise debts and liabilities. No evidence has been presented to indicate that the Debtors' registered offices are not its COMI and the Court, at this stage, finds that the BVI is the COMI for each of the Debtors. The Court further finds the JPLs have demonstrated that the provisional relief is necessary to prevent acts inconsistent with the BVI Orders and protect assets within the territorial jurisdiction of the United States. Absent the requested relief, the JPLs are unable to know the status of, and positions taken in, ongoing discussions and litigation with U.S. governmental entities, and the JPLs need to settle the issue of who is the rightful representative of the Debtors. The Objecting Debtors argue that Chapter 15 does not permit the requested relief because it exceeds the JPLs BVI-law authority. They have not provided any indication that the requested relief would be contrary to the public policy of the BVI, and the Court should accordingly find that the requested discovery is appropriate under section 1519 and 1521 of the Code. The Foreign Representatives have provided testimony that irreparable harm is likely to result in the absence of the requested relief. According to the Court, the Foreign Representatives have likely demonstrated that asset dissipation poses a substantial threat to the Debtors. Prince Group's complex corporate structure and history of concealment of assets complicates the Foreign Representative's attempts to trace assets, and absent judicial intervention, the assets may disappear. The Objecting Debtors claim that the JPLs have failed to demonstrate harm that would occur in the absence of the requested relief because the JPLs have failed to identify property located within the U.S., and any litigation the JPLs may face is not harm to the Debtors or their stakeholders as required by section 1519(a) of the Code. The Court finds the balance of harms favors the Foreign Representatives. The Foreign Representatives have explained how the interim relief will protect the Debtors' estates and thereby serve the creditor body. Additionally, the discovery recipients will not be significantly harmed, and the discovery appears necessary for the Foreign Representatives to preserve the Debtors' assets. The Court says the Objecting Debtors' argument that the relief is not urgently needed is unpersuasive. In this matter, the Debtors note that the BVI Attorney General placed the Debtors into liquidation on public-interest grounds, with the aim of protecting creditors, not prejudicing them. According to the Court, all parties who may be impacted by the entry of the Provisional Relief Order may seek relief from the Bankruptcy Court or the BVI Court and are therefore sufficiently protected. The Objecting Debtors argue that the JPLs should not be permitted to sell assets prior to recognition. This contention is now moot in light of the JPLs decision to amend the Proposed Order and remove "realization" of assets from the JPLs' authority. A copy of the Court's Memorandum Opinion dated April 23, 2026, is available at https://urlcurt.com/u?l=Diwkfu from PacerMonitor.com. Attorneys for the Proposed Foreign Representatives: Andrew G. Dietderich, Esq, Sharon Cohen Levin, Esq. Christopher J. Dunne, Esq. Jacob M. Croke, Esq.. Alexa J. Kranzley, Esq. SULLIVAN & CROMWELL LLP 125 Broad Street New York, NY 10004 E-mail: dietdericha@sullcrom.com levinsc@sullcrom.com dunnec@sullcrom.com Attorneys for Amber Hill Ventures Limited and Lateral Bridge Global Limited: Daniel J. Saval, Esq. Jeremy O. Bressman, Esq. Adam M. Lavine, Esq. Martine B. Forneret, Esq. KOBRE & KIM LLP 800 Third Avenue New York, NY 10022 E-mail: daniel.saval@kobrekim.com jeremy.bressman@kobrekim.com adam.lavine@kobrekim.com Attorneys for Alleged Objecting Debtors: Matthew L. Schwartz, Esq BOIES SCHILLER FLEXNER LLP 55 Hudson Yards New York, NY 10001 E-mail: mlschwartz@bsfllp.com About Prince Global Holdings Limited Prince Global Holdings Limited is an international financial services firm engaged in investment and asset management activities. Prince Global Holdings Limited sought relief under Chapter 15 of the U.S. Bankruptcy Code (Bankr. Case No. 26-10769) on April 8, 2026. In its petition, the Debtor did not specify estimated assets or liabilities. Honorable Bankruptcy Judge Martin Glenn handles the case. The Debtor is represented by Andrew G. Dietderich, Esq. of Sullivan & Cromwell LLP. PRINCE GLOBAL: Judge Allows Liquidators to Obtain U.S. Bank Records ------------------------------------------------------------------- Hilary Russ of Law360 Bankruptcy Authority reports that on Wednesday, April 22, 2026, a bankruptcy judge in New York granted joint liquidators of Prince Global Holdings authority to obtain discovery from U.S. banks in connection with an alleged fraud and human trafficking operation linked to the debtor. The liquidators sought permission to subpoena financial institutions for records that may reveal the movement and location of funds connected to the company. The information is expected to support ongoing efforts to recover assets and advance parallel proceedings abroad, the report states. In approving the request, the court concluded that the discovery would assist the foreign liquidation and was consistent with the goals of Chapter 15. The decision clears the way for expanded investigative efforts within the United States, according to Law360. About Prince Global Holdings Limited Prince Global Holdings Limited is an international financial services firm engaged in investment and asset management activities. Prince Global Holdings Limited sought relief under Chapter 15 of the U.S. Bankruptcy Code (Bankr. Case No. 26-10769) on April 8, 2026. In its petition, the Debtor did not specify estimated assets or liabilities. Honorable Bankruptcy Judge Martin Glenn handles the case. The Debtor is represented by Andrew G. Dietderich, Esq. of Sullivan & Cromwell LLP. RENAISSANCE HOLDING: Moody's Alters Outlook on B3 CFR to Negative ----------------------------------------------------------------- Moody's Ratings affirmed Renaissance Holding Corp.'s (Renaissance or Renaissance Learning) B3 corporate family rating and its B3-PD probability of default rating. Concurrently, Moody's affirmed the B3 rating on the company's $2.0 billion backed senior secured first lien term loan due 2030, assigned a B3 rating to the extended $235 million backed senior secured first lien revolving credit facility due 2030, and withdrew the rating on the existing backed senior secured first lien revolving credit facility due 2028. Moody's changed the outlook to negative from stable. The outlook change to negative reflects Renaissance's deterioration in operating earnings and execution risk in quickly restoring earnings performance and reducing the company's very high leverage due to cautious school district spending. Renaissance has underperformed Moody's cash flow expectations due to earnings being adversely affected by a decline in demand for supplemental products and the Nearpod product as well as a decline in multi-year orders, resulting in three consecutive years of negative free cash flow. Renaissance's financial profile is expecting only modest improvement anticipated over the next 12 months. This action also reflects the limited growth prospects in the educational sector, where K-12 funding and spending are constrained by rising costs and uncertainty, following declines in federal funding in FY2024 and FY2025 after the roll-off of pandemic-era support. Moody's expects more stability in federal, state and local funding over the next year, resulting in modest overall growth that will make it challenging for Renaissance to materially improve earnings and reduce leverage unless it increases market share. Renaissance has actioned significant cost savings initiatives that should help maintain earnings, but these have yet to be fully reflected in margins. Restructuring and efficiency initiative expenses totaling $47 million in 2025 are expected to decline below $15 million in 2026, providing some lift to operating cash flow. Such investments include a new CRM system, shifting some development overseas, settling a cybersecurity related legal matter, and workforce consolidation. These initiatives, lower interest rates, and continued cost control are expected to contribute to modest positive free cash flow in fiscal 2026. Moody's projects that the company's Moody's adjusted debt-to-EBITDA will decline but remain high at a high-8.0x range by the end of fiscal 2026 (incorporating Moody's adjustments; mid-10.0x when deducting software development outlays). Downside risks also remain, as the Nearpod product, which now accounts for just nine percent of revenue, may continue to face pressure despite a sharp decline in 2025, and demand for supplemental products could remain subdued. Although the rise of generative AI presents potential risks for Renaissance, the company's proprietary data sources and implementation of AI into its product development approach also creates opportunities. As AI tools lower the barriers to content creation and aggregation, new entrants may emerge with scalable, low-cost educational products that challenge traditional providers, particularly in less regulated or non-mission-critical segments. This could intensify competition, and over time may contribute to price erosion or increased customer expectations at renewal. The company's offerings nevertheless remain embedded in district workflows and accountability frameworks, which limits near-term displacement risk relative to smaller or standalone AI providers. Renaissance's comprehensive and proprietary assessment data, and focus on assessment-driven, integrated solutions offers insulation, but the company will need to continue executing on product integration and AI-enabled enhancements to sustain pricing and margin performance as AI capabilities evolve. The company also has opportunities to support productivity and cost efficiency through technology initiatives, including AI, although the extent of these benefits remains uncertain. The affirmation of the B3 CFR reflects Renaissance's established market position in the K-12 digital learning and assessment sector, diverse product offering, and solid customer retention rates in the high 90%. Renaissance's products are used in over 40% of US schools and more than 100 countries. The core assessment business, which represents 60% of revenue, has shown consistent stability. Additionally, ongoing investment in AI-driven solutions, such as the Renaissance Intelligence platform, support its competitive position. The affirmation also reflects the company's adequate liquidity with no debt maturities over the next four years aside from roughly $20 million of required annual term loan amortization. Renaissance's next debt maturity is the revolving credit facility, which in March 2026 was extended to January 2030, followed by the senior secured term loan maturing in April 2030. This maturity profile provides flexibility to execute an operational turnaround over the next several years. Liquidity remains adequate, supported by availability on its $235 million revolver to fund seasonal borrowings and Moody's expectations for $10-20 million positive free cash flow in 2026. Moody's expects Renaissance will draw on its revolver in the first half of 2026 to cover its seasonal working capital swing and fully pay off the balance in the third quarter due to the timing of contract renewals around the start of the school year. Cushion within the 8.55x springing net debt-to-EBITDA leverage covenant is modest though a highly adjusted credit agreement EBITDA definition and Moody's expectations for some earnings growth in 2026 should allow Renaissance to maintain compliance. RATINGS RATIONALE Renaissance Learning's B3 CFR broadly reflects its persistently high leverage as the result of some earnings softness and an aggressive financial policy. Moody's projects earnings growth due to cost reductions will reduce debt-to-EBITDA leverage from above 10x (incorporating Moody's adjustments; roughly 13x after deducting cash outlays for software development from EBITDA) as of the 12 months ended September 2025 but to a still-high high-8.0x range over the next year (approximately mid-10.0x range after deducting software development outlays). The competitive nature of the industry with some key participants having greater scale and less leverage in the relatively fragmented K-12 digital learning and assessment market also constrain the rating. High investment needs will consume cash as the company continues to enhance content and product features to maintain competitiveness. The ratings are based on Moody's assumptions that the company will maintain sufficient liquidity to support its operations as it executes an operational turnaround, transitioning to modest positive free cash flow in 2026 following three consecutive years of negative free cash flow, while also meeting required term loan amortization. Renaissance Learning's established brand name and portfolio of well recognized digital education products support its competitive position, while the company's core assessment and analytics offerings remain embedded in district workflows and, in many cases, tied to accountability and compliance requirements. Long term demand for digital education tools remains supported by their increasing integration into school operations to support student learning outcomes. The rating also benefits from the company's high level of recurring, subscription-based revenue, diversified customer base and good margins. Furthermore, the absence of maturities until 2030 aside from term loan amortization provide some flexibility to execute the company's turnaround strategies. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS The ratings could be upgraded if the company delivers consistent organic revenue and earnings growth, sustains debt-to-EBITDA below 6.5x and sustains free cash flow as a percentage of debt above 5%. The company would also need to maintain good liquidity and financial policies that support such credit metrics. The ratings could be downgraded if operating earnings do not improve due to lower customer retention, weak orders such as from softness in federal or state funding, or higher costs. EBITA-to-interest less than 1x, free cash flow to debt below 1%, or a deterioration of liquidity could also lead to a downgrade. The principal methodology used in these ratings was Business and Consumer Services published in February 2026. The net effect of any adjustments applied to rating factor scores or scorecard outputs under the primary methodology(ies), if any, was not material to the ratings addressed in this announcement. Renaissance Learning is a provider of subscription-based educational practice and assessment software and school improvement programs for kindergarten through senior high (K-12) schools. The company was acquired by private equity firm Francisco Partners in 2018 with Blackstone acquiring a minority ownership interest in 2022. The company reported approximately $600 million of revenue for the LTM period ended September 30, 2025. RMG ERECTORS: Gets Interim OK to Use Cash Collateral Until May 15 ----------------------------------------------------------------- RMG Erectors & Construction of Montana, LLC received interim approval from the U.S. Bankruptcy Court for the District of New Jersey to use cash collateral. Under the interim order, the Debtor is authorized to use cash collateral through May 15 in accordance with an approved budget, subject to a 5% variance. The Debtor must use cash collateral only for expenses tied to projects with a UCC notice directing payments to its primary secured lender, Firstrust Bank. As protection, Firstrust Bank and any secured creditor found to have interest in the cash collateral will be granted replacement liens on the Debtor's post-petition assets, with the same validity, priority and extent as their pre-bankruptcy liens. In case the replacement liens prove inadequate, secured creditors will be granted a superpriority administrative expense claim. The interim order is available at https://is.gd/BAqW4s from PacerMonitor.com. The next hearing is set for May 13. Objections are due by May 6. Firstrust Bank holds a senior secured position on substantially all assets of the Debtor, with alleged debt exceeding $6 million across multiple loans. These include a commercial mortgage loan secured by real property, a loan financing the purchase of a Cessna jet secured by the aircraft, and a revolving line of credit secured by various business assets. The Debtor asserts Firstrust Bank is fully secured, citing collateral exceeding the debt, including real estate over $3.3 million, an aircraft worth about $1.6 million, and other assets and guarantees. About RMG Erectors Erectors & Construction of Montana RMG Erectors Erectors & Construction of Montana, LLC is a construction-related company specializing in pre-engineered metal building erection and installation across the United States, with prior work for major commercial clients. It also engages in related activities involving equipment and technology tied to paintball and defense-related applications. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. N.J. Case No. 26-14283) on April 17, 2026. In the petition signed by Robert Mesmer, chief executive officer, the Debtor disclosed up to $10 million in both assets and liabilities. Judge Jerrold N. Poslusny, Jr. oversees the case. Albert A. Ciardi, III, Esq., at Ciardi Ciardi and Astin, oversees the case. RONLAT EENTERPRISES: Behrooz Vida Named Subchapter V Trustee ------------------------------------------------------------ The U.S. Trustee for Region 6 appointed Behrooz Vida, Esq., at the Vida Law Firm, PLLC as Subchapter V trustee for Ronlat Eenterprises, Inc. Mr. Vida will be paid an hourly fee of $495 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Vida declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Behrooz P. Vida, Esq. The Vida Law Firm, PLLC 3000 Central Drive Bedford, TX 76021 Telephone: (817) 358-9977 Facsimile: (817) 358-9988 behrooz@vidalawfirm.com About Ronlat Eenterprises Inc. Ronlat Eenterprises, Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Texas Case No. 26-41567) on April 6, 2026, with $500,001 to $1 million in both assets and liabilities. Robert Thomas DeMarco, Esq., represents the Debtor as legal counsel. ROSE RENTAL: Court OKs Withdrawal of Canton Property Sale --------------------------------------------------------- The U.S. Bankruptcy Court for the Southern District of Mississippi has permitted Rose Rental Properties to withdraw motion to sell Property, free and clear of liens, claims, interests, and encumbrances. The Debtor's Property is located at 801 Planters Point Dr, Canton, MS 39046, which include the house and land that is mortgaged by Citizens Naitonal Bank. The Court has authorized the Debtor to withdraw Motion to Sell the Property and motion is moot. 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. ROYAL CARD: Eric Terry Named Subchapter V Trustee ------------------------------------------------- The U.S. Trustee for Region 7 appointed Eric Terry as Subchapter V trustee for The Royal Card House, LLC. Mr. Terry will charge $450 per hour for his services as Subchapter V trustee and $60 per hour for his support staff working under his direct supervision. The Subchapter V trustee will seek reimbursement for work-related expenses incurred. Mr. Terry declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Eric Terry 3511 Broadway San Antonio, TX 78209 Phone: (210)468-8274 Email: eric@ericterrylaw.com About The Royal Card House LLC The Royal Card House, LLC operates its private social card club business in San Antonio, Texas. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Tex. Case No. 26-50915) on April 6, 2026. In the petition signed by Elias Luna III, managing member, the Debtor disclosed up to $50,000 in assets and up to $1 million in liabilities. Judge Aubrey L. Thomas oversees the case. Dean Greer, Esq., at West and West Attorneys at Law, PC, represents the Debtor as bankruptcy counsel. RUNITONETIME LLC: Seeks to Extend Plan Exclusivity to Aug. 10 ------------------------------------------------------------- RunItOneTime LLC and its affiliates asked the U.S. Bankruptcy Court for the Southern District of Texas to extend their exclusivity periods to file a plan of reorganization and obtain acceptance thereof to Aug. 10 and Oct. 7, 2026, respectively. The Debtors explain that the application of factors to the facts and circumstances of the Chapter 11 Cases demonstrates that the requested extension of the Exclusive Periods is both appropriate and necessary. First, the size and complexity of the issues attendant to these cases warrants approval of the requested relief. The Debtors comprise 68 affiliated entities operating in multiple jurisdictions, with significant funded indebtedness and a complex capital structure. The cases have involved numerous first day motions, employment of a broad slate of professionals, the administration of assets and claims across a substantial number of subsidiaries, and contested hearings and litigation on complex matters, including, as just one example, the contested hearings and litigation surrounding the approval of the Debtors' post petition financing on a final basis. Second, termination of the Exclusive Periods at this juncture would adversely impact the Debtors' efforts to preserve and maximize the value of their estates and advance the Chapter 11 Cases. The Debtors are engaged in a robust sale process of substantially all of their assets, as approved by the Court and some of these asset sales have already closed. Granting the requested extensions will allow the Debtors to focus on finalizing their restructuring strategy and moving toward plan confirmation without the distraction, cost, and delay associated with a competing plan process. Third, the Debtors obtained critical first day relief, secured postpetition financing, retained necessary professionals, completed their schedules and statements, and implemented procedures for claims and professional compensation. The Debtors have also advanced their sale and restructuring efforts, demonstrating significant progress toward a successful reorganization and satisfaction of the third and fourth factors. Fourth, the Debtors do not seek the extension of the Exclusive Periods as a means to exert pressure on the relevant parties in interest. Instead, the extension will allow the Debtors to continue making progress with key stakeholders. The Debtors seek the requested extension of the Exclusive Periods out of an abundance of caution simply to ensure the progress made to date is not upended by a potential loss of their Exclusive Periods. Finally, the Debtors continue to make timely payments on their undisputed postpetition obligations. Accordingly, the seventh factor weighs in favor of extending the Exclusive Periods. The Debtors' Co-Counsel: Timothy A. ("Tad") Davidson II, Esq. Ashley L. Harper, Esq. Philip M. Guffy, Esq. HUNTON ANDREWS KURTH LLP 600 Travis Street, Suite 4200 Houston, TX 77002 Tel: (713) 220-4200 Email: taddavidson@hunton.com ashleyharper@hunton.com pguffy@hunton.com - and - Jeffrey E. Bjork, Esq. Helena G. Tseregounis, Esq. Nicholas J. Messana, Esq. LATHAM & WATKINS LLP 355 South Grand Avenue, Suite 100 Los Angeles, California 90071-1560 Tel: (213) 485-1234 E-mail: jeff.bjork@lw.com helena.tseregounis@lw.com nicholas.messana@lw.com and Ray C. Schrock, Esq. Andrew Sorkin, Esq. 1271 Avenue of the Americas New York, NY 10020 Tel: (212) 906-1200 E-mail: ray.schrock@lw.com andrew.sorkin@lw.com About RunItOneTime LLC RunItOneTime LLC, formerly known as Maverick Gaming LLC, headquartered in Kirkland, Washington, is a regional casino and cardroom operator across Washington State, Nevada, and Colorado. The company operates a portfolio of 31 properties, with 1,800 slot machines, 350 table games, 1,020 hotel rooms, and 30 restaurants. Maverick was founded in 2017 by Eric Persson and Justin Beltram, who hold over 70% ownership in the company. RunItOneTime LLC and 67 affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 25-90191) on July 14, 2025. In its petition, RunItOneTime estimated assets and liabilities between $100 million and $500 million each. Judge Alfredo R. Perez oversees the cases. The Debtors tapped Latham & Watkins LLP as counsel; and Hunton Andrews Kurth LLP, as bankruptcy co-counsel. The Debtors also engaged GLC Advisors & Co., LLC and GLC Securities, LLC, as investment banker, and Triple P TRS, LLC as financial advisor. The Debtors' tax advisor is KPMG LLP. S&S HOLDINGS: S&P Downgrades ICR to 'B-', Outlook Stable -------------------------------------------------------- S&P Global Ratings lowered its ratings on U.S.-based imprintable apparel distributor S&S Holdings LLC (dba S&S Activewear), including its issuer credit rating to 'B-' from 'B'. The stable outlook reflects S&P's expectation that S&S Activewear will sustain credit metrics in line with the 'B-' rating despite prolonged industry softness and the business will maintain sufficient liquidity as they navigate demand weakness. S&S Activewear ended fiscal 2025 with S&P Global Ratings-adjusted leverage of 8.6x and free operating cash flow (FOCF) to debt of less than 1%, in line with S&P's downside triggers. S&P now expects soft revenue trends related to industry softness to keep leverage elevated above its 6.5x downgrade threshold in 2026 after the acquisition of alphabroder weighed on leverage and cash flow in 2025. The downgrade reflects the company's pressured credit metrics and the impact of prolonged industry softness. S&S underperformed relative to our 2025 EBITDA and FOCF expectations, ending the year in a cash flow deficit (on a reported basis) with S&P Global Ratings-adjusted EBITDA of around $250 million, about $40 million lower than our previous forecast expectations. S&P Global Ratings-adjusted leverage was 8.6x in 2025. S&P believes the company's performance can be attributed to prolonged softness in the promotional products industry alongside modest market share erosion related to the alphabroder integration. S&P said, "We expect the company will continue to see improvements in its operating performance such that leverage declines and the business resumes cash flow generation in 2026. That said, we believe the company's operating performance and credit metrics will remain in line with the 'B-' rating over the next 12-24 months.Under our revised forecast, we expect its S&P Global Ratings-adjusted leverage will improve to the high-7x area in 2026 and low- to mid-7x area in 2027, as the company realizes the benefits of most of its synergies and one-time acquisition costs gradually roll off. "The company has taken action on most of the planned cost synergies and our base-case forecast assumes these synergies will benefit its profitability through the end of 2026, with a small incremental benefit in 2027, which should mitigate some of the impacts from industry softness. The promotional products industry has limited revenue visibility, and S&S Activewear typically has a minimal backlog. "We forecast S&S Activewear's S&P Global Ratings-adjusted EBITDA will increase in 2026, driven by the realization of synergies from the alphabroder acquisition, lower one-time costs, and investments in warehouse automation. While we anticipate continued industry headwinds will result in relatively flat revenue growth in 2026, we expect the acquisition to positively contribute to EBITDA growth through approximately $90 million in cost synergies across the organization." The company has proactively eliminated duplicate expenses by consolidating its distribution network and reducing redundant corporate infrastructure. However, some costs have taken longer to roll off than previously expected. The company also accelerated its warehouse automation strategy in 2025, leading to elevated capital expenditures around $100 million for the year, contributing significantly to the company's weak FOCF generation. S&P said, "That said, we anticipate these investments will ultimately result in lower operating costs. Still, the full realization and timing of synergies and the reduction of acquisition-related costs pose execution risk to our base-case scenario. We believe the company will implement price increases in 2026, which could support revenue growth beyond our current expectations. "We expect the company to maintain adequate liquidity while it navigates industry weakness. The company has ample capacity on its $800 million revolver with only $51 million drawn and $11 million cash on its balance sheet as of Dec. 31, 2025. "We expect modest FOCF generation in 2026 despite elevated one-time costs. We expect capex to normalize to around $25 million in 2026 after it reached around $100 million in 2025 due to its warehouse automation. The company also repurchased about $30 million of costly second-lien debt at the beginning of 2026, which should positively affect future cash flow. "The stable outlook reflects our expectation that S&S Activewear will sustain credit metrics in line with the 'B-' rating despite prolonged industry softness, and that they will maintain sufficient liquidity as they navigate demand weakness. "We could lower our rating on S&S if its operating performance falls short of our expectations, resulting from a sharp decline in promotional products demand, or it uses material liquidity to fund an acquisition or other corporate needs." Specifically, S&P could lower the rating if it: -- Consider S&S' capital structure unsustainable; -- View its liquidity as less than adequate; -- Expect a debt restructuring or payment default and S&P isn't confident the company can refinance its debt at par. S&P could raise its rating on S&S Activewear if it sustains leverage of less than 6.5x and S&P believes it will generate FOCF to debt in the mid-single-digit range. This could occur if: -- Promotional product sales stabilize and margins continue to improve; -- The company achieves its acquisition and warehouse automation cost-savings targets; -- S&P is confident the company could refinance their debt. SABLE OFFSHORE: Plans Senior Secured Term Loan Refinancing in Q2 ---------------------------------------------------------------- Sable Offshore Corp. provided a corporate update on current operational, legal and financial matters. Operational Updates The previously announced resumption of oil transportation through Segments 324 and 325 of the Santa Ynez Pipeline System ("SYPS") was executed in compliance with all applicable safety standards through the Company's comprehensive pipeline integrity management program. Sable is pleased with its operational performance across the Santa Ynez Unit and the SYPS during this critical period. Sable is also proud to create new, well-paying jobs for the people of California and throughout America. * The 40 wells currently online at Platform Harmony and Platform Heritage are producing an average of 750 gross barrels of oil per day per well. Once all 74 production wells on these two platforms are online, Sable expects the average production per well to be approximately 700 gross barrels of oil per day. * Sable expects Platform Hondo to come online in June 2026 with an estimated fully ramped production rate of approximately 10,000 gross barrels of oil per day. * Capital spend across Sable's assets is expected to be approximately $180 million from April 2026 through December 2026 as the Company focuses on facility upgrades, maintenance capex, and low-cost production optimization operations. Financial Updates * The Company plans to consummate a debt refinancing of its Senior Secured Term Loan in the second quarter of 2026. * In addition to its banking partners, Sable is in active discussions with the United States government on potential federal credit support options. * Concurrent with the refinancing, Sable plans to implement a commodity hedging program focused on cash flow protection and upside preservation. * To date, Sable has sold 7,000,634 shares of its common stock for gross proceeds of approximately $95.0 million through its ATM common stock issuance program. Consent Decree Update The United States Department of Justice has moved to terminate or modify the Consent Decree in the United States District Court, Central District of California. Sable is not a party to this litigation, but is participating in briefing related to the Consent Decree termination or modification, which is set to be heard on June 1, 2026. Additional Legal Updates Sable is coordinating with the federal government in various legal matters to defend its vested rights to operate its assets and ensure compliance with certain federal mandates, including the Defense Production Act. Sable is also actively pursuing damages and taking proactive legal action to curb state and county regulatory overreach. * In the previously announced litigation against the California Coastal Commission, Sable is actively pursuing damages of at least $347 million from the CCC. * Sable is actively pursuing financial damages, expected to be in excess of $100 million, from the County of Santa Barbara for unlawfully withholding the transfer of certain permits to Sable from the prior operator. Management Commentary Jim Flores, Chairman and Chief Executive Officer, added "Sable is pleased to update its stakeholders on our tremendous progress following the invocation of the Defense Production Act. We are working tirelessly to provide American oil from American soil to consumers in California and the U.S. military and are proud to have produced over 1 million barrels from the Santa Ynez Unit to date. We look forward to achieving our financial objectives as we continue to operate in a safe and reliable manner to the benefit of all of our stakeholders." About Sable Offshore Corp. Sable Offshore Corp. (formerly known as Flame Acquisition Corp. is an independent oil and gas company headquartered in Houston, Texas. Flame was initially formed as a special purpose acquisition company for the purpose of entering into a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. The Company's independent auditor, Ham, Langston & Brezina, L.L.P., based in Houston, Texas, and serving since 2024, included a "going concern" qualification in its report dated February 27, 2026, attached to the Annual Report on Form 10-K with the U.S. Securities and Exchange Commission for the fiscal year ended December 31, 2025 citing that uncertainties related to obtaining the remaining regulatory approvals necessary to resume sales of production, along with the uncertainty of obtaining additional financing, or refinancing the Senior Secured Term Loan raise substantial doubt about the Company's ability to continue as a going concern. As of December 31, 2025, the Company had $1.7 billion in total assets, $1.2 billion in total liabilities, and $534.3 million in total stockholders' equity. SAINT AUGUSTINE'S: Case Summary & 20 Largest Unsecured Creditors ---------------------------------------------------------------- Debtor: Saint Augustine's University 1315 Oakwood Avenue Raleigh, NC 27610 Business Description: Saint Augustine's University is a four-year liberal arts university based in Raleigh, North Carolina. Established in 1867, the university offers more than 20 undergraduate degree programs and awards baccalaureate and master's degrees. The institution operates academic schools and colleges across fields including arts, business, education, sciences, allied health, graduate studies, and military science. Saint Augustine's University is accredited by the Southern Association of Colleges and Schools Commission on Colleges. Chapter 11 Petition Date: April 27, 2026 Court: United States Bankruptcy Court Eastern District of North Carolina Case No.: 26-01864 Judge: Hon. David M Warren Debtor's Counsel: Ciara L. Rogers, Esq. WALDREP WALL BABCOCK & BAILEY PLLC 3600 Glenwood Avenue, Suite 210 Raleigh, NC 27612 Tel: 984-480-2005 E-mail: notice@waldrepwall.com Estimated Assets: $100 million to $500 million Estimated Liabilities: $50 million to $100 million The petition was signed by Joseph Lynn as secretary, Board of Directors. A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/CZSSRCA/Saint_Augustines_University__ncebke-26-01864__0001.0.pdf?mcid=tGE4TAMA List of Debtor's 20 Largest Unsecured Creditors: Entity Nature of Claim Claim Amount 1. Allied Universal $72,469 Security Services 5400 Glenwood Avenue Suite 218 Raleigh, NC 27612 2. American Trust Company $3,295,434 2525 Harrodsburg Road Suite 210 Lexington, KY 40504 3. AT&T Mobility LLC $53,689 P.O. Box 6463 Carol Stream, IL 60197 4. Cohesion Environment Services $51,589 5216 Yates Mill Pond Road Raleigh, NC 27606 5. CSC Serviceworks $63,900 P.O. Box 718698 Philadelphia, PA 19171 6. Ellucian Company LP $1,879,532 2003 Edmund Halley Drive Reston, VA 20191 7. Equitable Financial $138,008 P.O. Box 13463 Newark, NJ 07188 8. Internal Revenue Service $14,444,260 Centralized Insolvency Operation P.O. Box 7346 Philadelphia, PA 19101 9. Jaimon Perry $90,000 37 N. Orange Avenue Suite 500 Orlando, FL 32801 10. Jani-King of $150,600 Raleigh-Durham 801 Jones Franklin Road Raleigh, NC 27606 11. LightBox Parent LP $53,129 6 Armstrong Road 4th Floor Shelton, CT 06484 12. Mutual of Omaha Ins. Co $146,731 3300 Mutual of Omaha Plaza Omaha, NE 68175 13. North Carolina Dept of Revenue $1,650,545 Attention: Bankruptcy Unit Raleigh, NC 27602-1168 14. Schindler Elevator Corporation $81,117 P.O. Box 93050 Chicago, IL 60673 15. TIAA CREF $367,500 P.O. Box 933326 Atlanta, GA 31193 16. U.S. Department of Commerce $2,135,317 1401 Constitution Avenue NW Washington, DC 20230 17. U.S. Department of $1,530,000 the Interior 1849 C Street NW Washington, DC 20240 18. US Department of Education $1,883,083 Lyndon B. Johnson, Dept. of Ed. 400 Maryland Ave SW Washington, DC 20202 19. US Department of Interior $1,771,000 1849 C. Street, NW Washington, DC 20240 20. US National Science Foundation $897,000 401 Dulany Street Alexandria, VA 22314 SANTA PAULA: To Sell Santa Paula Property to Highest Bidder ----------------------------------------------------------- Santa Paula Hay & Grain and Ranches seeks approval from the U.S. Bankruptcy Court for the Central District of California, Northern Division, to sell Property, free and clear of liens, claims, interests, and encumbrances. The Debtor's Property is located at 125 S. 10th Street, Santa Paula, CA 93060. The Debtor is an agricultural producer whose principal office is in Fillmore, California. Negotiations have resulted in an offer by Vicente F. Castillo and Maria L. Gomez to purchase the Property. The purchase price indicated in the agreement is $1,800,000 with no contingencies. The Debtor has determined that the best means for it to obtain the most favorable recovery from the Sale of the Property is to present Buyer as the initial offer to purchase and then allow overbidding for the Property at a hearing on the Motion to Sell. The Debtor will continue to market the Sale of the Property with Century 21 Masters as the broker. The offer to purchase the Property by the Buyer is subject to a higher and better offer being made at the hearing on the Motion by any other party wishing to purchase the Property. The Buyer has deposited $5000 with escrow. The purchase of the Property includes all kitchen appliances, tables, chairs, cabinets, furniture, dishes, loose items, and decorations that are currently at the Property. The Agreement indicates that the sale would close within 60 days of acceptance, but the Buyer has agreed to extend the date to allow the Motion to be heard and the sale closed within 15 days after the hearing on the Motion. The Sale is subject to overbidding and the initial overbid shall be $1,850,000 and thereafter, in $1000 increments. The lienholders of the Property are Ventura County Treasurer and Tax Collector, Mid Valley Services Inc., Employment Development Department, and Internal Revenue Service. The Debtor believes that Sale process provides the best assurance possible under the circumstances of the case that the Debtor is obtaining a fair price for the Sale of the Property. About Santa Paula Hay & Grain and Ranches Santa Paula Hay & Grain and Ranches specializes in providing a variety of hay and grain products to meet the needs of farmers and animal owners. The Company offers high-quality feed options for livestock and pets. Santa Paula Hay & Grain and Ranches sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Cal. Case No. 25-10314) on March 12, 2025. In its petition, the Debtor reports estimated assets between $100 million and $500 million and between $10 million and $50 million. Honorable Bankruptcy Judge Ronald A. Clifford III handles the case. The Debtor is represented by Reed Olmstead, Esq. SEAFARER'S LLP: Initiates Chapter 11 Bankruptcy in Washington ------------------------------------------------------------- On April 23, 2026, Seafarer's LLP filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Western District of Washington. According to court filings, the debtor reports between $1 million and $10 million in debt owed to 1–49 creditors. A meeting of creditors under Section 341(a) to be held on May 18, 2026 at 09:30 AM via Telephonic Creditors Meeting. About Seafarer's LLP Seafarer's LLP is a single asset real estate company. Seafarer's LLP sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Wash. Case No. 26-11344) on April 23, 2026. In its petition, the debtor reports estimated assets between $1 million and $10 million and estimated liabilities in the same range. Honorable Bankruptcy Judge Timothy W. Dore handles the case. The debtor is represented by Douglas R. Shepherd, Esq., of Shepherd and Allen. SELCUK AHMET TOMBUL: Can't Seek Relief Under Subchapter V --------------------------------------------------------- Judge Nicolas W. Whittenburg of the U.S. Bankruptcy Court for the Eastern District of Tennessee sustained the objection of the United States Trustee to Selcuk Ahmet Tombul's election to proceed under subchapter V of chapter 11. On the statement of financial affairs, the debtor disclosed that in 2026, and for all of 2025, his income came from wages. In 2024, his income came from operating a business. He also stated that his debts were not primarily consumer debt. The debtor is a cardiologist. Sometime before this case began, he was the sole owner of Chattanooga Heart and Rhythm Center PLLC ("CHRC"). The debtor personally guaranteed virtually all of CHRC's debts CHRC ceased operations no later than in January 2025 and no longer has employees. Since then, the debtor has been employed as a W-2 wage-earning employee. As of the petition date, CHRC had no assets. Importantly, as of the petition date, the debtor had no interest in his current employer's business. Nevertheless, the debtor continues to own 100% of CHRC. Because he personally guaranteed that business's loans, he maintains that he is addressing his personal liability for CHRC's business debts through this subchapter V bankruptcy case rather than through litigation in state court. He argues that, despite the fact that CHRC has no assets to administer and is not an operating entity and that 100% of the debtor's income is derived from his employment by another medical association, he is "engaged in commercial or business activities" because he is attempting to discharge or otherwise deal with his personal liability for the debts of CHRC. The debtor relies heavily on an opinion finding that a debtor's defense of a state court lawsuit involving a defaulted commercial lease that the debtor guaranteed personally was sufficient winding down activity to satisfy the requirement that a subchapter V debtor be engaged in commercial or business activities. Judge Whittenburg explains, "Here, the debtor had personally guaranteed CHRC's debts, but on (and even around) the petition date, he was not taking any action that amounted to being engaged in commercial or business activities. CHRC had been closed for the prior year, there were no employees, no assets to liquidate, leased property had been returned, and litigation had been concluded. He had moved on to W-2 employment with a business in which he has no ownership interest. She concludes, "Under those undisputed facts, the court need not decide definitively whether to adopt a totality of the circumstances analysis for determining whether a debtor is 'engaged in commercial or business activities.' Applying any approach, as of the petition date, the debtor does not qualify for relief as a 'small business debtor.'" Having determined that the debtor is ineligible for bankruptcy relief as a small business debtor, the court sustained the United States trustee's objection. Selcuk Ahmet Tombul filed for Chapter 11 bankruptcy protection (Bankr. E.D. Tenn. Case No. 26-10223) on January 27, 2026, listing under $1 million in both assets and liabilities. The Debtor is represented by Amanda Stofan, Esq., at Farinash & Stofan. SMARTZ INC: Gets Interim OK to Use Cash Collateral -------------------------------------------------- Smartz Inc. received interim approval from the U.S. Bankruptcy Court for the Central District of Illinois, Urbana Division, to use cash collateral to fund operations. Under the interim order, the Debtor is authorized to use cash collateral through May 1 to pay the expenses set forth in its budget, with a permitted variance of up to 110% per line item. The Debtor may modify the budget with prior consent of ICM Investment Partners II, LLC and ICM Investment Partners III, LLC. As protection for any diminution in the value of their collateral, both creditors were granted post-petition liens on the same type of collateral securing their pre-bankruptcy claims. These post-petition liens will have the same type of priority, validity, and enforceability that existed as of the petition date. The Debtor reserves the right to challenge the validity, priority, and enforceability of those claims. The order is available at https://is.gd/cfPiZF from PacerMonitor.com. Smartz argues that keeping the business running preserves value, sustains revenue, and better serves creditors while cutting off cash access would trigger operational collapse, loss of staff and vendors, SaaS disruption, and a steep drop in enterprise value. About Smartz Inc. Smartz Inc., based in Champaign, Illinois, develops property management software platforms that automate real estate operations, including leasing, tenant services, maintenance tracking, and financial management. Founded in 2021, the company integrates smart building and Internet of Things technologies, such as access control and security systems, into its platform. Its products are used by property owners and managers. Smartz sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Ill. Case No. 26-90240) on April 12, 2026, with up to $50 million in assets and up to $10 million in liabilities. Smartz President Kevin Wan signed the petition. Judge Mary P. Gorman oversees the case. William J. Factor, Esq., at The Law Office of William J. Factor, Ltd., represents the Debtor as bankruptcy counsel. SPIRIT AIRLINES: Nears Deal with Avenger to Extend Flight Training ------------------------------------------------------------------ Ben Zigterman of Law360 Bankruptcy Authority reports that an insolvent flight training provider, Avenger Flight Group, said Thursday, April 23, 2026, it has reached an agreement in principle with Spirit Airlines Inc. that would settle outstanding claims and extend their business arrangements. The contemplated deal addresses pre-bankruptcy liabilities while enabling Avenger to continue supplying training services essential to Spirit's operations. The company noted that maintaining the relationship is critical as both sides work through financial and operational challenges, the report states. The agreement has not yet been finalized and is subject to bankruptcy court approval. Upon completion, it is expected to reduce uncertainty, resolve disputes, and support continuity of services throughout the restructuring process, according to Law360. About Spirit Airlines Spirit Airlines, LLC (SAVE) is a low-fare carrier committed to delivering the best value in the sky by offering an enhanced travel experience with flexible, affordable options. Spirit serves destinations throughout the United States, Latin America and the Caribbean with its Fit Fleet, one of the youngest and most fuel-efficient fleets in the U.S. On the Web: http://wwww.spirit.com/ Spirit Airlines and its affiliates sought Chapter 11 protection (Bankr. S.D.N.Y. Case No. 24-11988) on Nov. 18, 2024, after reaching terms of a pre-arranged plan with bondholders. At the time of the filing, Spirit Airlines reported $1 billion to $10 billion in both assets and liabilities. Judge Sean H. Lane oversees the case. The Debtors tapped Davis Polk & Wardwell, LLP as legal counsel; Alvarez & Marsal North America, LLC, as financial advisor; and Perella Weinberg Partners LP as investment banker. Epiq Corporate Restructuring, LLC, is the claims agent. Paul Hastings, LLP and Ducera Partners, LLC serve as legal counsel for the Ad Hoc Group of Convertible Noteholders. Akin Gump Strauss Hauer & Feld, LLP and Evercore Group LLC represent the Ad Hoc Group of Senior Secured Noteholders. The official committee of unsecured creditors retained Willkie Farr & Gallagher LLP as counsel. Citigroup Global Markets, Inc., is serving as financial advisor and Latham & Watkins LLP is serving as legal counsel to Frontier. 2nd Attempt Spirit Airlines and its affiliates sought Chapter 11 protection (Bankr. S.D.N.Y. Case No. 25-11896) on August 29, 2025. In its petition, the Debtors reports estimated assets and liabilities between $1 billion and $10 billion each. Honorable Bankruptcy Judge Sean H. Lane handles the case. The Debtor is represented by Marshall Scott Huebner, Esq. and Darren S. Klein, Esq. at Davis Polk & Wardwell LLP. SPIRIT AIRLINES: Pres. Trump Weighs Govt. Purchase of Airlines -------------------------------------------------------------- Allyson Versprille, Catherine Lucey, and Josh Wingrove of Bloomberg News report that President Donald Trump said Thursday, April 23, 2026, that the U.S. government is evaluating whether to purchase Spirit Aviation Holdings Inc., suggesting the move could represent a favorable investment. The statement comes as the administration weighs a potential bailout package for the embattled airline. Officials are considering a range of options to support the company amid ongoing financial strain. Trump told reporters that the government might either extend assistance or acquire the airline outright, noting that it could be obtained “virtually debt free” while retaining valuable aircraft and operational assets. He added that the proposal under consideration remains consistent with earlier discussions this week, with a focus on limiting liabilities and maintaining service continuity. The plan has not yet been finalized. About Spirit Airlines Spirit Airlines, LLC (SAVE) is a low-fare carrier committed to delivering the best value in the sky by offering an enhanced travel experience with flexible, affordable options. Spirit serves destinations throughout the United States, Latin America and the Caribbean with its Fit Fleet, one of the youngest and most fuel-efficient fleets in the U.S. On the Web: http://wwww.spirit.com/ Spirit Airlines and its affiliates sought Chapter 11 protection (Bankr. S.D.N.Y. Case No. 24-11988) on Nov. 18, 2024, after reaching terms of a pre-arranged plan with bondholders. At the time of the filing, Spirit Airlines reported $1 billion to $10 billion in both assets and liabilities. Judge Sean H. Lane oversees the case. The Debtors tapped Davis Polk & Wardwell, LLP as legal counsel; Alvarez & Marsal North America, LLC, as financial advisor; and Perella Weinberg Partners LP as investment banker. Epiq Corporate Restructuring, LLC, is the claims agent. Paul Hastings, LLP and Ducera Partners, LLC serve as legal counsel for the Ad Hoc Group of Convertible Noteholders. Akin Gump Strauss Hauer & Feld, LLP and Evercore Group LLC represent the Ad Hoc Group of Senior Secured Noteholders. The official committee of unsecured creditors retained Willkie Farr & Gallagher LLP as counsel. Citigroup Global Markets, Inc., is serving as financial advisor and Latham & Watkins LLP is serving as legal counsel to Frontier. 2nd Attempt Spirit Airlines and its affiliates sought Chapter 11 protection (Bankr. S.D.N.Y. Case No. 25-11896) on August 29, 2025. In its petition, the Debtors reports estimated assets and liabilities between $1 billion and $10 billion each. Honorable Bankruptcy Judge Sean H. Lane handles the case. The Debtor is represented by Marshall Scott Huebner, Esq. and Darren S. Klein, Esq. at Davis Polk & Wardwell LLP. SRC HOLDINGS: Initiates Chapter 11 Bankruptcy in California ----------------------------------------------------------- On April 27, 2026, SRC Holdings, 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 1–49 creditors. A meeting of creditors under Section 341(a) to be held on May 21, 2026 at 01:30 PM at UST-SVND1, TELEPHONIC MEETING. CONFERENCE LINE:1-888-330-1716, PARTICIPANT CODE:5961145. About SRC Holdings, LLC SRC Holdings, LLC is a holding company that appears to manage investments or oversee affiliated business operations. SRC Holdings, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-10894) on April 27, 2026. In its petition, the Debtor reports estimated assets ranging from $1 million to $10 million and estimated liabilities ranging from $1 million to $10 million. Honorable Bankruptcy Judge Martin R. Barash handles the case. The Debtor is represented by Vahe Khojayan, Esq. of YK Law, LLP. SSPB DEVELOPMENT: Seeks Chapter 7 Bankruptcy in California ---------------------------------------------------------- On April 24, 2026, SSPB Development Company Inc. filed for Chapter 7 bankruptcy protection in the Central District of California Bankruptcy Court. According to court filings, the debtor reports between $100,001 and $1,000,000 in debt owed to approximately 1–49 creditors. About SSPB Development Company Inc. SSPB Development Company Inc is a real estate development firm engaged in property development and related activities. SSPB Development Company Inc sought relief under Chapter 7 of the U.S. Bankruptcy Code (Bankr. C.D. Cal. Case No. 26-14029) on April 24, 2026. In its petition, the debtor reports estimated assets between $0 and $100,000 and estimated liabilities between $100,001 and $1,000,000. Honorable Bankruptcy Judge Sheri Bluebond handles the case. The debtor is represented by Wilfred I. Aka, Esq. of Wilfred I. Aka, A Professional Law Corp. START TO FINISH: Gets Interim OK to Use Cash Collateral ------------------------------------------------------- Start To Finish Installations, LLC received interim approval from the U.S. Bankruptcy Court for the Middle District of Pennsylvania to use cash collateral to fund operations. Under the court order, the Debtor is authorized to use cash collateral through May 11 to pay its expenses, including any fees owed to the Office of the U.S. Trustee and court-approved professional fees and costs. The Debtor's cash collateral consists of receivables, cash, inventory and their proceeds in which creditors including Fundomate Technologies, Inc., BizFund, LLC, OnDeck, and Immediate Capital Solutions, LLC may hold security interests. At the time of its Chapter 11 filing, the Debtor reported approximately $90,000 in accounts receivable, $20,000 in cash on hand, and around $218,000 in equipment and vehicles, with minimal inventory. The Debtor believes the lenders are likely adequately protected given the overall value of the collateral. In case of any diminution in the value of their collateral, the lenders will be granted replacement liens on the Debtor's post-petition cash collateral and a superpriority administrative expense claim. The Debtor estimates over $450,000 owed to these lenders but is unsure all liens are perfected due to inconsistent UCC filings. Out of caution, all are treated as potential holders of interests in the Debtor's cash collateral. The order is available at https://is.gd/3pqhvV from PacerMonitor.com. The final hearing is set for May 11. About Start To Finish Installations LLC Start To Finish Installations LLC is a Pennsylvania-based playground installation and construction company. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Pa. Case No. 26-01055) on April 17, 2026. In the petition signed by Jeromy Snyder, member, the Debtor disclosed up to $500,000 in assets and up to $1 million in liabilities. Robert E. Chernicoff, Esq., at Cunningham, Chernicoff & Warshawsky PC, represents the Debtor as legal counsel. STEVEN GIRALT: Seeks Chapter 7 Bankruptcy in New York ----------------------------------------------------- On April 21, 2026, Steven Giralt Photography filed for Chapter 7 protection in the U.S. Bankruptcy Court for the Eastern District of New York. According to court filings, the Debtor reports between $1 million and $10 million in debt owed to 100–199 creditors. About Steven Giralt Photography Steven Giralt Photography is a photography business specializing in commercial, editorial, and visual content production. Steven Giralt Photography sought relief under Chapter 7 of the U.S. Bankruptcy Code (Bankr. Case No. 26-41903) on April 21, 2026. In its petition, the Debtor reports estimated assets ranging from $100,001 to $1,000,000 and estimated liabilities ranging from $1 million to $10 million. Honorable Bankruptcy Judge Elizabeth S. Stong handles the case. The Debtor is represented by Robert M. Fox, Esq. SUPPORTIVE HANDS: James Cross Named Subchapter V Trustee -------------------------------------------------------- The U.S. Trustee for Region 14 appointed James Cross, Esq., at Cross Law Firm, PLC as Subchapter V trustee for Supportive Hands Hospice, Inc. Mr. Cross will be paid an hourly fee of $625 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Cross declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: James E. Cross, Esq. Cross Law Firm, PLC P.O. Box 45469 Phoenix, AZ 85064 Phone: 602-412-4422 Email: jcross@crosslawaz.com About Supportive Hands Hospice Inc. Supportive Hands Hospice, Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Ariz. Case No. 26-03445) on April 9, 2026. Judge Madeleine C. Wanslee presides over the case. SVK CAPITAL: Commences Chapter 11 Bankruptcy in California ---------------------------------------------------------- On April 27, 2026, SVK Capital, LLC filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Northern District of California. According to court filings, the Debtor reports between $1 million and $10 million in debt owed to 1–49 creditors. A meeting of creditors under Section 341(a) to be held on May 26, 2026 at 02:00 PM via UST Teleconference Oakland, Call in number: 1-888-330-1716 Passcode: 8324431. Proofs of Claims due by 8/24/2026. About SVK Capital, LLC SVK Capital, LLC is a business entity that appears to operate as an investment or financial services firm, based on its corporate structure and name. SVK Capital, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-40874) on April 27, 2026. In its petition, the Debtor reports estimated assets ranging from $1 million to $10 million and estimated liabilities ranging from $1 million to $10 million. Honorable Bankruptcy Judge William J. Lafferty handles the case. The Debtor is represented by Chris D. Kuhner, Esq. of Kornfield Nyberg Bendes Kuhner & Little. SYNERGY CAPITAL: Case Summary & Two Unsecured Creditors ------------------------------------------------------- Debtor: Synergy Capital Auto Lending, LLC Synergy Capital c/o Alex Sinno 6622 Randolph Blvd. San Antonio, TX 78233 Business Description: Synergy Capital Auto Lending, LLC is an affiliated vehicle financing company for Texas Auto Save, LLC, a Texas in-house financing car dealership. Texas Auto sells vehicles and works almost exclusively with Synergy Capital to complete customer financing. The companies operate in subprime vehicle financing, serving high financial risk customers. Chapter 11 Petition Date: April 25, 2026 Court: United States Bankruptcy Court Western District of Texas Case No.: 26-51088 Judge: Hon. Aubrey L Thomas Debtor's Counsel: Ronald Smeberg, Esq. THE SMEBERG LAW FIRM 4 Imperial Oaks San Antonio TX 78248-1609 Tel: (210) 695-6684 Fax: (210) 598-7357 E-mail: ron@smeberg.com Total Assets: $11,596,541 Total Liabilities: $11,701,938 The petition was signed by Alex Sinno as managing member. A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/E22GEPI/Synergy_Capital_Auto_Lending_LLC__txwbke-26-51088__0001.0.pdf?mcid=tGE4TAMA List of Debtor's Two Unsecured Creditors: Entity Nature of Claim Claim Amount 1. Creditor's Captive Insurance Claim $395,938 Formation Corp. Po Box 450 Fredonia, KS 66736 2. Deal Pack $6,000 11242 Alumni Way Jacksonville, FL 32246 TAWR PROPERTY: Gets Final OK to Use Cash Collateral --------------------------------------------------- Tawr Property Owner, Ltd and affiliates received final 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 Debtors to use cash collateral strictly in accordance with approved budgets. The Debtors must provide regular financial reporting, including weekly and monthly budget reconciliations, and maintain all funds in designated debtor-in-possession accounts. Importantly, the Debtors are prohibited from making payments on pre-petition debts without further court approval. The lenders asserting interests in cash collateral include Fifth Third Bank, NA, American National Insurance Company, Randolph-Brooks Federal Credit Union, BCL-CRE 3 LLC, FirstBank Southwest, Jefferson Bank, BHA Financial, L.P., Sonora Bank, and the U.S. Small Business Administration. The lenders extended multiple construction and commercial loans -- many in the tens of millions of dollars -- secured by first-priority liens on various multifamily, retail, office, and mixed-use development properties located in several Texas counties. The loans are guaranteed in substantial part by a non-debtor. As protection against any diminution in collateral value, the lenders will receive automatically perfected replacement liens on their respective collateral, including property generated or acquired after the Debtors' Chapter 11 filing, with the same validity and priority as their pre-bankruptcy liens. The replacement liens do not apply to avoidance actions and their proceeds. The Debtors' right to use cash collateral ends upon occurrence of termination events (e.g., default under the order, conversion of the Chapter 11 case and stay relief) or by the maturity date (July 17). Upon termination, use of cash collateral must cease immediately. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/vZ1Si from PacerMonitor.com. The Debtors' portfolio includes multi-family apartment complexes such as Tacara at Weiss Ranch and Tacara at Steubing Heights, retail centers, shopping centers, and mixed-use redevelopment projects. Prior to bankruptcy filing, the Debtors faced mounting liquidity pressures, alleged loan covenant defaults, and foreclosure threats including a notice of foreclosure sale from Randolph-Brooks Federal Credit Union, notices of default and acceleration from Fifth Third Bank and pressure from BCL-CRE 3 relating to covenant breaches and potential acceleration. About TAWR Property Owner Ltd. TAWR Property Owner, Ltd and affiliates are real estate entities involved in the ownership, investment, and management of multifamily residential developments in Texas, including Tacara-branded apartment projects in the San Antonio and Pflugerville areas. The entities operate as property owners, general partners, holding companies, and investment partnerships structured to develop, own, and manage residential real estate assets. The Debtors sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Texas Lead Case No. 26-90162) on February 3, 2026. In the petition signed by Darren B. Casey, as authorized representative, TAWR Property Owner reported assets of between $50 million and $100 million and liabilities of between $10 million and $50 million. Judge Edward L. Morris oversees the cases. The Debtors tapped Davor Rukavina, Esq., at Munsch Hardt Kopf & Harr, P.C. as general bankruptcy counsel. TEMP UNLIMITED: Commences Chapter 7 Bankruptcy in California ------------------------------------------------------------ On April 26, 2026, Temp Unlimited, LLC filed for Chapter 7 protection in the U.S. Bankruptcy Court for the Central District of California. According to court filings, the Debtor reports between $100,001 and $1,000,000 in debt owed to 1–49 creditors. A meeting of creditors under Section 341(a) to be held on June 1, 2026 at 08:00 AM via Zoom - Menchaca: Meeting ID 978 603 5451, Passcode 6093612375, Phone 1 213 286 5065. About Temp Unlimited, LLC Temp Unlimited, LLC is a business entity that appears to provide staffing or temporary workforce services, based on its corporate name and structure. Temp Unlimited, LLC sought relief under Chapter 7 of the U.S. Bankruptcy Code (Bankr. Case No. 26-14048) on April 26, 2026. In its petition, the Debtor reports estimated assets ranging from $0 to $100,000 and estimated liabilities ranging from $100,001 to $1,000,000. Honorable Bankruptcy Judge Barry Russell handles the case. The Debtor is represented by Kevin Tang, Esq. of Tang & Associates. TEXAS WINE: Frances Smith Named Subchapter V Trustee ---------------------------------------------------- The U.S. Trustee for Region 6 appointed Frances Smith, Esq., at Ross, Smith & Binford, PC, as Subchapter V trustee for Texas Wine Company, Inc. Ms. Smith will be paid an hourly fee of $475 for her services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Ms. Smith declared that she is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Frances A. Smith, Esq. Ross, Smith & Binford, PC 700 N. Pearl Street, Ste. 1610 Dallas, TX 75201 Phone: 214-593-4976 Fax: 214-377-9409 Email: frances.smith@rsbfirm.com About Texas Wine Company Inc. Texas Wine Company, Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Texas Case No. 26-50119) on April 6, 2026, with $500,001 to $1 million in assets and up to $50,000 in liabilities. David R. Langston, Esq., at Mullin, Hoard & Brown represents the Debtor as legal counsel. TRIPLETT FUNERAL: Court Denies Motion to Sell Kahoka Property ------------------------------------------------------------- The U.S. Bankruptcy Court for the Eastern District of Missouri Northern Division, denied Robert E. Eggmann, Chapter 11 Operating Trustee of Triplet Funeral Homes LLC, to sell commercial personal property and commercial real property, free and clear of liens, claims, interests, and encumbrances. The Debtor operates Wilson & Triplett Funeral Home, a funeral home located at 975 E Main St., Kahoka, MO 63445 (Business) and owns a commercial property located at 975 E Main St., Kahoka, MO 63445 (Property). Purchasers, Melissa Vigen and Marcus Vigen, have submitted an offer to Trustee to purchase the Assets and Property for the total sale price of $1,000,000.00. The Court has denied the Debtor's Motion to sell the Property. About Triplett Funeral Homes, LLC Triplett Funeral Homes, LLC, a company in Kahoka, Mo., is a locally owned and operated funeral service provider dedicated to offering compassionate services and personalized care to families during their time of need. Triplett Funeral Homes sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Miss. Case No. 25-20049) on March 27, 2025. In its petition, the Debtor reported between $1 million and $10 million in both assets and liabilities. Judge Kathy A. Surratt-States oversees the case. The Debtor is represented by Fredrich J. Cruse, Esq., at Cruse Chaney-Faughn. Robert E. Eggmann is the Debtor's Chapter 11 trustee. TRM NRE: Seeks Appointment of Stretto as Claims and Noticing Agent ------------------------------------------------------------------ TRM NRE Holding LLC and its affiliates seek approval from the U.S. Bankruptcy Court for the District of Delaware to appoint Stretto, Inc. as claims and noticing agent in their Chapter 11 cases. Stretto will provide these services: (a) prepare and serve required notices and documents in these chapter 11 cases in accordance with the Bankruptcy Code and the Bankruptcy Rules; (b) maintain an official copy of the Debtors' schedules of assets and liabilities and statements of financial affairs; (c) maintain creditor, equity holder, and core mailing lists and update them as necessary; (d) furnish notice of claims bar dates and provide proof of claim forms to creditors; (e) maintain a post office box and process all mail received; (f) maintain an electronic platform for filing proofs of claim; (g) prepare and file affidavits or certificates of service for all notices and pleadings served; (h) process and maintain proofs of claim and ensure accuracy; (i) maintain official claims registers and provide access to such records; (j) provide public access to claims registers and proofs of claim; (k) implement security measures to protect claims data; (l) record transfers of claims and provide required notices; (m) relocate court-filed proofs of claim to its offices; (n) monitor the Court's docket and update records accordingly; (o) assist in disseminating information to the public through a website or call center; and (p) perform all other administrative and claims processing duties required for orderly case administration. Stretto's fees and expenses will be treated as administrative expenses of the Debtors' estates and paid in the ordinary course of business without further Court approval. The Debtors agreed to provide an advance of $25,000 as security for payment of fees and expenses. Stretto, Inc. is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code and does not hold or represent any interest materially adverse to the Debtors' estates, according to court filings. The firm can be reached at: Sheryl Betance STRETTO, INC. 410 Exchange, Ste. 100 Irvine, CA 92602 Telephone: (714) 716-1872 E-mail: sheryl.betance@stretto.com About TRM NRE TRM NRE is a Mt. Vernon, Illinois-based company that supplies new, used, and remanufactured locomotives and provides locomotive, diesel engine, rail, marine, and power-related services. The company offers leasing, field services, parts, salvage operations, overhauls, wreck repairs, and locomotive design, manufacturing, and re-engineering. It also provides marine and industrial diesel engine sales and service, automation and control services, and engine generator set and equipment sales. TRM NRE serves Class 1, regional, short line, government, and industrial railroads, along with OEMs, leasing companies, marine and industrial power customers, gas and oil platforms, and stationary power users. TRM NRE Holding LLC and TRM NRE Acquisition LLC filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code (Bankr. D. Del., Case No 26-10568) on April 21, 2026. The petitions were signed by Shaun Karn as authorized signatory. Each Debtor reported estimated assets of $10 million to $50 million and estimated liabilities of $10 million to $50 million. The Hon. Karen B. Owens presides over the cases. The Debtors are represented by DLA Piper LLP. Bayard, P.A. serves as bankruptcy co-counsel to the Debtors. Stretto, Inc. is the Debtors' claims and noticing agent. TRS CONTRACTING: Case Summary & 16 Unsecured Creditors ------------------------------------------------------ Debtor: TRS Contracting LLC Summit ReadyMix 2860 1/2 N FM 973 Austin, TX 78725 Business Description: TRS Contracting LLC, doing business as Summit Readymix, provides ready-mixed concrete and related building-materials transport services in the Austin, Texas, area. The company operates as an intrastate non-hazardous carrier serving construction and concrete-materials customers. Chapter 11 Petition Date: April 26, 2026 Court: United States Bankruptcy Court Western District of Texas Case No.: 26-10727 Judge: Hon. Christopher G Bradley Debtor's Counsel: An Nguyen, Esq. NGUYEN LAW, PLLC PO Box 150146 Tel: (512) 712-3484 Email: bankruptcy@anwinlaw.com Total Assets: $1,370,064 Total Liabilities: $1,953,853 The petition was signed by Paul Rafael as manager. A full-text copy of the petition, which includes a list of the Debtor's 16 unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/YKP3SYA/TRS_Contracting_LLC__txwbke-26-10727__0001.0.pdf?mcid=tGE4TAMA TRUE VISION: Seeks 60-Day Extension of Plan Filing Deadline ----------------------------------------------------------- True Vision Development Inc. asked the U.S. Bankruptcy Court for the Central District of California to extend its period to file a plan of reorganization for additional sixty days. The Debtor is a Corporation. The CEO is Oscar Baez Arroyo. Debtor runs a construction company located at 10801 National Blvd., Suite 240, Los Angeles, CA 90064. On January 20, 2026, Debtor commenced this case by filed a voluntary Chapter 11 Petition. Since the filing of the case, Debtor, through its authorized representatives, has been working to increase its revenue in order to successfully reorganize under the Bankruptcy Code. The Debtor explains that it seeks a 60-day extension of the deadline for Debtor to file a plan due to the need to compile significant financial data between the case filing and the 90-day deadline. Debtor was initially operating on a cash only system due to its pre-petition issues with various banks. In addition, the Debtor was able to open its Debtor-in-Possession account and has began using the account. However, there is insufficient post-petition financial data to appropriately prepare a plan that has sufficient historical information to provide the necessary projections for the plan. True Vision Development Inc. is represented by: Thomas B. Ure, Esq. Ure Law Firm 8280 Florence Avenue, Suite 200 Downey, CA 90240 Tel: (213) 202-6070 Fax: (213) 202-6075 About True Vision Development Inc. True Vision Development Inc. provides general building and construction services, including new construction and remodeling projects, primarily in the Los Angeles area. True Vision Development Inc. filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. C.D. Cal. Case No. 26-10480) on Jan. 20, 2026, listing $420,418 in assets and $1,164,178 in liabilities. The petition was signed by Oscar Baez Arroyo as CEO. Judge Julia W Brand presides over the case. Thomas B Ure, at URE LAW FIRM, serves as the Debtor's counsel. VALVES AND CONTROL: June 16 Plan Confirmation Hearing Set --------------------------------------------------------- IN THE UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF DELAWARE In re VALVES AND CONTROLS US, INC., Debtor. Chapter 11 Case No. 25 – 11403 (TMH) NOTICE OF (I) APPROVAL OF DISCLOSURE STATEMENT, (II) ESTABLISHMENT OF SOLICITATION AND VOTING PROCEDURES WITH RESPECT TO PROPOSED JOINT CHAPTER 11 PLAN, (III) SCHEDULING OF CONFIRMATION HEARING, AND (IV) ESTABLISHMENT OF NOTICE AND OBJECTION PROCEDURES FOR CONFIRMATION OF PROPOSED JOINT CHAPTER 11 PLAN Approval of Disclosure Statement. On April 15, 2026, the United States Bankruptcy Court for the District of Delaware (the "Bankruptcy Court") entered an order (the "Solicitation Procedures Order"), among other things, (i) approving the disclosure statement (together with all schedules and exhibits thereto, and as may be modified, amended, or supplemented from time to time, the "Disclosure Statement") submitted by Valves and Controls US, Inc., as debtor and debtor in possession in the chapter 11 case (the "Debtor"), for the Joint Chapter 11 Plan of Liquidation of Valves and Controls US, Inc. and Official Committee of Unsecured Creditors [Docket No. 402] (together with all schedules and exhibits thereto, and as may be modified, amended, or supplemented from time to time, the "Plan") as containing "adequate information" pursuant to section 1125 of title 11 of the United States Code (the "Bankruptcy Code"), (ii) establishing the Voting Deadline (as defined below) and other deadlines with respect to confirmation of the Plan, (iii) approving procedures for soliciting, submitting, tabulating votes on, and filing objections to, the Plan, and (iv) approving the forms and manner of certain notices in connection with confirmation of the Plan. Pursuant to the Solicitation Procedures Order, the Bankruptcy Court approved the following dates and deadlines with respect to the Plan: Confirmation Hearing. A hearing to consider confirmation of the Plan (the "Confirmation Hearing") will be held before the Honorable Thomas M. Horan, United States Bankruptcy Judge, in the Bankruptcy Court, 824 North Market Street, 3rd Floor, Courtroom 7, Wilmington, Delaware 19801, on June 16, 2026 at 1:00 p.m. (prevailing Eastern Time). The Confirmation Hearing may be adjourned from time to time without further notice to parties in interest other than by an announcement in the Bankruptcy Court of such adjournment on the date scheduled for the Confirmation Hearing or as indicated in any notice of agenda of matters scheduled for hearing filed by the Debtor with the Bankruptcy Court. The Debtor may modify the Plan, if necessary, prior to, during, or as a result of the Confirmation Hearing without further notice. Voting Record Date. Subject to the procedures set forth in the Solicitation Procedures Order, the following holders of Claims against the Debtor as of April 10, 2026 (the "Voting Record Date") are entitled to vote on the Plan: Voting Deadline. All votes to accept or reject the Plan must be actually received by Kroll Restructuring Administration LLC, the Debtor's solicitation agent (the "Solicitation Agent"), by no later than June 9, 2026, 4:00 p.m. (prevailing Eastern Time) (the "Voting Deadline"). Failure to follow the voting instructions included with your Ballot may disqualify your Ballot and your vote. Any holder of a Direct Asbestos Claim who (i) is not represented by an attorney, (ii) believes that it may be entitled to vote on the Plan, and (iii) has not received a Solicitation Package, may contact the Solicitation Agent as provided in paragraph 9 below for instructions on submitting a Ballot through the E-Ballot Portal. Temporary Allowance of Claims for Voting. If you disagree with the amount set forth by the Debtor for your Claim in the Schedules, or if you have filed a proof of claim and disagree with either (i) the Debtor's objection to your Claim and believe that you should be entitled to vote on the Plan, or (ii) the Debtor's classification or request for estimation of your Claim and believe that you should be entitled to vote on the Plan in a different amount or Class, then you must serve on the parties identified in paragraph 7 below and file with the Bankruptcy Court a motion (a "Rule 3018 Motion") for an order pursuant to Rule 3018(a) of the Federal Rules of Bankruptcy Procedure (the "Bankruptcy Rules") requesting temporary allowance of your Claim in a different amount or in a different class for purposes of voting to accept or reject the Plan. All Rule 3018 Motions must be filed on or before May 26, 2026 at 4:00 p.m. (prevailing Eastern Time). The Debtor, or any other party in interest, shall have until no later than 4:00 p.m. (prevailing Eastern Time) on June 2, 2026 to file and serve any responses to any such Rule 3018 Motion. Rule 3018 Motions that are not timely filed and served in the manner set forth above shall not be considered. Objections to Confirmation. The deadline to object or respond to confirmation of the Plan is June 4, 2026 at 4:00 p.m. (prevailing Eastern Time) (the "Plan Objection Deadline"). Objections and responses, if any, to confirmation of the Plan, must (i) be in writing, (ii) conform to the Bankruptcy Rules and the Local Bankruptcy Rules, (iii) set forth the name of the objecting party and the nature and amount of Claims or Interests held or asserted by the objecting party against the Debtor's estates or property, (iv) provide the basis for the objection and the specific grounds therefor, and provide proposed language that, if accepted and incorporated by the Debtor, would obviate such objection, and (v) be filed, together with proof of service, with the Bankruptcy Court. Any objections or responses must be served so that they are actually received by the following parties no later than the Plan Objection Deadline: a. Weil, Gotshal & Manges LLP, 767 Fifth Avenue, New York, New York 10153 (Attn: Matthew S. Barr (matt.barr@weil.com), Ronit J. Berkovich (ronit.berkovich@weil.com), Lauren Tauro (lauren.tauro@weil.com), and Alejandro Bascoy (alejandro.bascoy@weil.com)) and Cole Schotz P.C. 500 Delaware Avenue, Suite 600, Wilmington, Delaware 19801 (Attn: Patrick J. Reilley (preilley@coleschotz.com), Michael E. Fitzpatrick (mfitzpatrick@coleschotz.com), and Melissa M. Hartlipp (mhartlipp@coleschotz.com)) as counsel to the Debtor, b. Office of United States Trustee for the District of Delaware, 844 King Street, Suite 2207, Wilmington, Delaware 19801 (Attn: Hannah J. McCollum (hannah.mccollum@usdoj.gov)), and c. Brown Rudnick LLP, Seven Times Square, New York, New York 10036 (Attn: David J. Molton (dmolton@brownrudnick.com), Eric R. Goodman (egoodman@brownrudnick.com), Catherine M. Castaldi (ccastaldi@brownrudnick.com), Gerard T. Cicero (gcicero@brownrudnick.com), and Susan Sieger-Grimm (ssiegergrimm@brownrudnick.com)), Caplin & Drysdale, 1200 New Hampshire Avenue N.W., 8th Floor, Washington, D.C. 20036 (Attn: Kevin C. Maclay (kmaclay@capdale.com), Todd E. Phillips (tphillips@capdale.com), James P. Wehner (jwehner@capdale.com), Serafina Concannon (sconcannon@capdale.com), and Shahriar M. Raafi (sraafi@capdale.com)), and Raines Feldman Littrell LLP, 824 North Market Street, Suite 805, Wilmington, DE 19801 (Attn: Thomas J. Francella, Jr. (tfrancella@raineslaw.com)) as counsel to UCC. Additional Information. Any party in interest wishing to obtain information about the Solicitation and Voting Procedures or copies of the Disclosure Statement, the Solicitation Procedures Order, or the Plan, should contact the Debtor's Solicitation Agent by telephone, at (888) 341-7352 (U.S./Canada, toll-free) or +1 (646) 902-6077 (International, toll), in writing at Valves and Controls US, Inc. Ballot Processing Center, c/o Kroll Restructuring Administration LLC, 850 Third Avenue, Suite 412, Brooklyn, NY 11232, or by email at valvesandcontrolsinfo@ra.kroll.com with a reference to "Valves and Controls US, Inc. Solicitation Inquiry" in the subject line. Interested parties may also review and download the Disclosure Statement, the Solicitation Procedures Order, and the Plan free of charge at https://cases.ra.kroll.com/valvesandcontrols. In addition, the Disclosure Statement, the Solicitation Procedures Order, and the Plan are on file with the Bankruptcy Court and may be reviewed by accessing the Bankruptcy Court's website: www.deb.uscourts.gov. Note that a PACER password and login are needed to access documents on the Bankruptcy Court's website. A PACER password can be obtained at: www.pacer.uscourts.gov. ARTICLE X OF THE PLAN CONTAINS RELEASE, EXCULPATION, AND INJUNCTION PROVISIONS, INCLUDING INJUNCTIONS RELATED TO INSURANCE POLICIES AND CLAIMS. FOR YOUR CONVENIENCE, THE RELEASE, EXCULPATION, AND INJUNCTION PROVISIONS ARE SET FORTH ON EXHIBIT 1 HERETO. YOU ARE ADVISED TO REVIEW AND CONSIDER THE PLAN CAREFULLY BECAUSE YOUR RIGHTS MIGHT BE AFFECTED. Dated: April 17, 2026 Wilmington, Delaware Attorneys for the Debtor and Debtor in Possession: Patrick J. Reilley, Esq. Michael E. Fitzpatrick, Esq. Melissa M. Hartlipp, Esq. COLE SCHOTZ P.C. 500 Delaware Avenue Suite 600 Wilmington, DE 19801 Telephone: (302) 652-3131 Facsimile: (302) 652-3117 E-mail: preilley@coleschotz.com mfitzpatrick@coleschotz.com mhartlipp@coleschotz.com -and- Matthew S. Barr, Esq. Ronit J. Berkovich, Esq. Lauren Tauro, Esq. Alejandro Bascoy, Esq. WEIL, GOTSHAL & MANGES LLP 767 Fifth Avenue New York, NY 10153 Telephone: (212) 310-8000 E-mail: matt.barr@weil.com ronit.berkovich@weil.com lauren.tauro@weil.com alejandro.bascoy@weil.com VERATICS INC: Aaron Cohen Named Subchapter V Trustee ---------------------------------------------------- The Acting U.S. Trustee for Region 21 appointed Aaron Cohen, Esq., a practicing attorney in Jacksonville, Fla., as Subchapter V trustee for Veratics, Inc. Mr. Cohen will be paid an hourly fee of $325 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Cohen declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Aaron R. Cohen, Esq. P.O. Box 4218 Jacksonville, FL 32201 Tel: (904) 389-7277 Email: aaron@arcohenlaw.com About Veratics Inc. Veratics, Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 26-02546) on April 10, 2026, with $500,001 to $1 million in assets and $1 million to $10 million in liabilities. Aaron A. Wernick, Esq., at Wernick Law, PLLC represents the Debtor as legal counsel. VILLAGE HOMES: To Sell Aledo Property to Colby & Sagrario Webster ----------------------------------------------------------------- Village Homes, L.P., seeks permission from the U.S. Bankruptcy Court for the Northern District of Texas, Fort Worth Division, to sell Property, free and clear of liens, claims, interests, and encumbrances. The Debtor is a Texas limited partnership formed in 1996. The Debtor's general partner is DH Management, Inc., a Texas corporation, which holds a 1% general partner interest. The Debtor has two limited partners: Michael Dike and James R. Harris. The Debtor is engaged in the construction of single-family homes, acquisition of single-family residential lots and options to acquire lots, and in the marketing and sale of the completed homes. The Debtor’s properties are located in various subdivisions in Tarrant and Parker Counties, Texas. The Debtor has in its portfolio approximately 117 single family real property lots. Some of those Lots have completed Single-Family Homes on them, some have homes under construction, but the majority are vacant Lots. To finance its homebuilding operations, the Debtor maintains various credit and borrowing facilities with several financial institutions, including Great Plains Bank, PlainsCapital Bank, Simmons Bank, Texas Bank, Valliance Bank, Huntington Bank (f/k/a Veritex Community Bank), and Worthington Bank. The Debtor entered into a Village Homes Purchase Agreement with prospective buyer, Colby and Sagrario Webster for the sale of a completed single-family home on the property with the street address of 1146 Bailey Ranch Road, Aledo, Texas 76008. The Buyer is neither related nor known to the Debtor and its principals prior to the Buyer's offer to purchase the Bailey Ranch Property. The Bailey Ranch Agreement was negotiated between the Debtor and the Buyer at arms-length and in good faith. The sale price for the Bailey Ranch Property is $620,000.00. The Bailey Ranch Property is one of the Contract Lots and included in VilHom's List Pendens. For that reason, the Buyer conditioned the effectiveness of the Bailey Ranch Agreement upon the Debtor obtaining an order of the Court approving the Bailey Ranch Agreement and providing that the sale proposed thereunder shall be free and clear of any liens, lis pendens, or other encumbrances of VilHom. The Bailey Ranch Property is pledged to Huntington Bank to secure the Lot Loan. The Debtor proposes to sell the Bailey Ranch Property free and clear of all liens that may be asserted by Huntington Bank against the Bailey Ranch Property. The Debtor believes the Release Price on the Bailey Ranch Property is approximately $118,863.39 plus accrued interests and fees. The Huntington Bank's liens are adequately protected by the Release Price being deposited into the Segregated Account until further order of the Court, with additional monthly interest being paid into the Segregated Account, the Debtor seeks entry of an order requiring that Huntington Bank release the Bailey Ranch DOT so to allow the Debtor to transfer and convey clean titles to the Buyer. The Debtor seeks the authority to allow the closing agent, at closing of the Proposed Transaction, to distribute the sale proceeds to pay the ordinary and necessary cost of sale, including commissions, tax prorations, make-ready costs, and homeowners’ warranty premium costs. About Village Homes for Fort Worth Village Homes for Fort Worth was established in 1996 and has grown into a trusted homebuilder in Fort Worth, Texas, known for its inspired designs and dedication to quality. With almost three decades of experience, the company has fulfilled the dreams of over 1,500 homeowners while collaborating closely with the region's top architects, craftsmen, and vendors. KC 117 LLC sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D.Tex. Case No. 25-43782-mxm) on October 1, 2025. Jeff P. Prostok at Vartabedian Hester & Haynes LLP, represents as legal counsel of the Debtor. VIVIAN ACEVEDO-FONSECA: May 1 Deadline for Panel Questionnaires --------------------------------------------------------------- The United States Trustee is soliciting members for committee of unsecured creditors in the bankruptcy case of Vivian Acevedo-Fonseca. If a party wishes to be considered for membership on any official committee that is appointed, it must complete a questionnaire available at https://tinyurl.com/yx6jzhr5 and return by email it to Angeliza Ortiz-Ng -- Angeliza.Ortiz-Ng@usdoj.gov –- at the Office of the United States Trustee so that it is received no later than May 1, 2026 at 1:00 p.m.. If the U.S. Trustee receives sufficient creditor interest in the solicitation, it may schedule a meeting or telephone conference for the purpose of forming a committee. About Vivian Acevedo-Fonseca Vivian Acevedo-Fonseca filed a voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. D. N.J. Case No. 26-14437) on April 22. 2026. The Debtor is represented by Andy Winchell, Esq. WELLPATH HOLDINGS: Dismissal of Konias Claims v. Tanner Affirmed ---------------------------------------------------------------- In the appeal styled KENNETH J. KONIAS, JR., Appellant v. DAVID DRUSKIN, PA-C; KRISTINA TANNER; MICHAEL J. HERBIK, Doctor; MARK ROMEASE; NEDRA GRECO-RICE, CHCA; MARK CAPOZZA; CORRECT CARE SOLUTIONS, Medical Provider; JOHN E. WETZEL; KIM BILLOW; DORINA VARNER, Chief Grievance Administrator; PENNSYLVANIA DEPARTMENT OF CORRECTIONS; BOB MARSH, Doctor; ALL MEDICAL STAFF @ SCI FAYETTE WORKING THE NIGHT SHIFT ON NOVEMBER 24, 25, 26, 2017, No. 23-2864 (3rd Cir.), Judges Paul B. Matey, Tamika R. Montgomery-Reeves and Richard L. Nygaard of the United States Court of Appeals for the Third Circuit affirmed the judgment of the United States District Court for the Western District of Pennsylvania denying Kenneth J. Konias, Jr.'s efforts to bring a nurse named Kristina Tanner back into the case. Pennsylvania state prisoner Kenneth J. Konias, Jr., appeals pro se from the District Court's decision granting summary judgment against him in this civil-rights action that he brought pursuant to 42 U.S.C. Sec. 1983. The events at issue in this case took place in November 2017, when Konias was incarcerated at the State Correctional Institution at Fayette. Since at least January of that year, Konias had been taking Effexor, a mental-health medication that was prescribed by a psychiatrist, Dr. Peter Saavedra. On Wednesday, November 22, 2017 (the day before Thanksgiving), Konias was seen at sick call by David Druskin, PA-C. During that visit, Druskin prescribed Konias two medications for pain: Tylenol and Pamelor. The entry of the Pamelor prescription in the computer system caused Konias's Effexor prescription to be discontinued. Konias alleges that he suffered from various withdrawal symptoms while off Effexor. According to Konias, on Saturday, November 25, 2017, he somehow ended up passing out and seizing. On Monday, November 27, 2017, Konias was seen by Dr. Saavedra and given his daily dose of Effexor. Dr. Saavedra renewed Konias's Effexor prescription at that time. Dr. Saavedra's progress notes for that visit indicate that Konias's Effexor prescription had been accidentally discontinued when Pamelor was ordered by medical. Konias commenced this pro se civil-rights action in the District Court after pursuing his administrative remedies to no avail. His amended complaint, which is the operative pleading, raised numerous claims stemming from the events of November 2017. That pleading named a host of defendants, including (but not limited to) Druskin, Dr. Michael Herbik (Druskin's supervisor), and a John/Jane Doe placeholder consisting of all medical staff at SCI Fayette working the night shift on November 24, 25, and 26 in 2017 ("the Doe Defendants"). The named defendants subsequently moved to dismiss the amended complaint pursuant to Federal Rule of Civil Procedure 12(b)(6). On September 28, 2021, the District Court granted those motions in part, dismissing most of the named defendants, including a nurse named Kristina Tanner. The District Court concluded that dismissal as to Tanner and most of the other named defendants was warranted because: (1) the complaint asserts no facts against any of these individuals, and (2) Konias was previously given the opportunity to amend his complaint. However, the District Court concluded that dismissal was not warranted as to the following: (1) an Eighth Amendment claim against Druskin, Dr. Herbik, and the Doe Defendants; and (2) a state-law negligence claim against Druskin, Dr. Herbik, and the Doe Defendants. In December 2022, Konias and the remaining named defendants (Druskin and Dr. Herbik) cross-moved for summary judgment. On September 12, 2023, the District Court entered an opinion and order that addressed the cross-motions for summary judgment and Konias's claims against the Doe Defendants. On the merits, the District Court concluded that Tanner was entitled to summary judgment on the Eight Amendment claim because Konias's "temporary discomfort" from "his loss of consciousness" on November 25, 2017, did not amount to a serious medical need. The District Court concluded that Tanner was entitled to summary judgment on the negligence claim, too, because: (1) expert testimony is required to prove that her not providing immediate medical care was substandard and caused any injuries to Konias, and (2) Konias has no such expert testimony. Regarding Konias's claim that Druskin and Dr. Herbik violated his Eighth Amendment rights, the District Court concluded that those defendants were entitled to summary judgment because the inadvertent discontinuance of his Effexor prescription was insufficient to show deliberate indifference under the Eighth Amendment. And as for Konias's negligence claim against Druskin and Dr. Herbik, the District Court concluded that this claim failed because, inter alia, Konias has offered no expert testimony about causation. Konias timely appealed from the District Court's September 12, 2023 decision. According to the Circuit Judges, "For substantially the reasons set forth in the District Court's opinion accompanying its September 12, 2023 decision, we agree with the District Court that summary judgment against Konias was warranted with respect to his Eighth Amendment and negligence claims against Druskin and Dr. Herbik." Because the District Court did not grant Konias relief under Rule 6(b)(1)(B) in connection with his untimely request to bring Tanner back into the case (and there was no reason for the District Court to do so), the District Court could not reach, sua sponte or otherwise, the merits of Konias's Eighth Amendment and negligence claims against Tanner. The panel holds, "We will modify the District Court's September 12, 2023 decision so that, instead of granting summary judgment in Tanner's favor, it does not disturb the District Court's March 2023 orders denying Konias's efforts to bring Tanner back into the case. So modified, we will affirm the District Court's judgment." A copy of the Court's Opinion dated April 16, 2026, is available at https://urlcurt.com/u?l=NVWqiL from PacerMonitor.com. About Wellpath Holdings Wellpath Holdings, Inc., formerly known as CCS-CMGC Holdings, Inc., is a provider of medical and mental healthcare in jails, prisons, and inpatient and residential treatment facilities. Wellpath Holdings and its affiliates sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Texas Lead Case No. 24-90533) on Nov. 11, 2024. Timothy Dragelin, chief restructuring officer and chief financial officer, signed the petitions. At the time of the filing, the Debtors reported $1 billion to $10 billion in assets and liabilities. Judge Alfredo R. Perez oversees the cases. The Debtors tapped Marcus A. Helt, Esq., at McDermott Will & Emery, LLP, as bankruptcy counsel; FTI Consulting, Inc., as financial advisor; and Lazard Freres & Co., LLC and MTS Partners, LP as investment banker. The Bankruptcy Court confirmed the chapter 11 plan on May 1, 2025. WELLPATH HOLDINGS: Dismissal of Young Civil Rights Case Affirmed ---------------------------------------------------------------- In the appeal styled KARLESTER YOUNG, Appellant v. KIP HALLMAN, President of Wellpath Holdings; PAUL NOEL, Chief Medical Director; JOHN OR JANE DOE, Chief Assistant Medical Director; JOHN OR JANE DOE HEPATITIS C TREATMENT COMMITTEE; BRITNAY HUNER; ANTHONY LITIZIO; S. O'NEILL; MONIQUE SAVAGE; JEANNE DE FRANGESCO; CORINA CAMPOS; STEPHAN KAMINSKI; VANESSA AMOAH OTI-AKENTEN; JAMIE SORBER; THOMAS PANDURN; D. VARNER; KERI MOORE; JORGE DOMINICS; JOHN E. WETZEL, GEORGE LITTLE, Secretary of the Pennsylvania Department of Corrections, in their individual and official capacities; WELLPATH HOLDINGS, LLC (Wellpath); PENNSYLVANIA DEPARTMENT OF CORRECTIONS, in their official capacities, No. 24-1920 (3rd Cir.), Judges Stephanos Bibas, Cindy K. Chung and Emil J. Bove of the United State Court of Appeals for the Third Circuit affirmed the dismissal of Karlester Young's civil rights complaint by the United States District Court for the Eastern District of Pennsylvania. The Medical Appellees' motion to dismiss and dismiss the appeal as to them is granted. Appellant Karlester Young, a Pennsylvania state prisoner proceeding pro se and in forma pauperis, was diagnosed with the Hepatitis C virus ("HCV") for the first time within the Pennsylvania Department of Corrections ("DOC") in 2012. In the years since, his regular blood tests have consistently shown an undetectable viral load of HCV—meaning he is considered cured, and no longer has chronic HCV. Young's complaint arises from the DOC's refusal, per those test results, to treat his HCV with direct-acting antiviral drugs (DAADs), which are the recommended treatment for patients with chronic HCV. After filing his complaint, Young requested and was appointed counsel, who later withdrew. Prior to and following counsel's withdrawal, all named defendants filed motions to dismiss for failure to state a claim. Young was not appointed new counsel and proceeded pro se. On January 29, 2024, the District Court granted all pending motions to dismiss. Young timely appealed. In his complaint, Young raised claims for alleged violations of his rights under the Fourteenth Amendment Equal Protection Clause, Eighth Amendment, Fifth Amendment, and Fourth Amendment. He also raised state law negligence and medical malpractice claims. He raises three issues on appeal: (1) whether the District Court erred in considering evidence outside the scope of the pleadings; (2) the dismissal of his Eighth Amendment claims; and (3) the District Court's denial of leave to amend. Medical Appellees' Motion to Dismiss Medical Appellees have also filed a motion to dismiss that is before this Court. This appeal was stayed in December after Wellpath entered bankruptcy proceedings. Medical Appellees now move to dismiss all claims against them, arguing that because Young did not opt out of the third-party release of claims in bankruptcy court by July 30, 2025, he is enjoined from taking any action, including the commencement, further prosecution of, or collection efforts against Medical Appellees. According to the Circuit Judges, this is consistent with the language of the First Amended Joint Chapter 11 Plan of Reorganization of Wellpath Holdings, Inc. and Certain of its Debtor Affiliates. The Bankruptcy Plan provides that the bankruptcy court retains jurisdiction over any issue with respect to the third-party releases. Thus, unless the bankruptcy court rules otherwise, Young is enjoined from pursuing this litigation against Medical Appellees. Accordingly, the motion to dismiss is granted. Young argues that the District Court erred by considering evidence outside the scope of the pleadings in evaluating the motions to dismiss. The gist of his argument appears to be that the District Court improperly relied on the fact that Young has been told repeatedly by DOC medical staff that he has an undetectable viral load. The panel concludes, "While Young challenges the dismissal of his Eighth Amendment claims for a variety of reasons, we discern no error in that ruling and agree with the District Court that the defendants' refusal to administer DAADs to Young does not constitute cruel and unusual punishment in violation of the Eighth Amendment. Even assuming the physical symptoms Young is experiencing amount to a serious medical need absent a chronic HCV diagnosis, he has not plausibly alleged defendants' deliberate indifference. To the extent Young alleges any of the defendants are responsible for refusing to treat him, the defendants' refusal to provide Young's preferred treatment does not meet the relevant standard. Therefore, the District Court properly dismissed these claims." A copy of the Court's Opinion dated April 13, 2026, is available at https://urlcurt.com/u?l=5cni3W About Wellpath Holdings Wellpath Holdings, Inc., formerly known as CCS-CMGC Holdings, Inc., is a provider of medical and mental healthcare in jails, prisons, and inpatient and residential treatment facilities. Wellpath Holdings and its affiliates sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Texas Lead Case No. 24-90533) on Nov. 11, 2024. Timothy Dragelin, chief restructuring officer and chief financial officer, signed the petitions. At the time of the filing, the Debtors reported $1 billion to $10 billion in assets and liabilities. Judge Alfredo R. Perez oversees the cases. The Debtors tapped Marcus A. Helt, Esq., at McDermott Will & Emery, LLP, as bankruptcy counsel; FTI Consulting, Inc., as financial advisor; and Lazard Freres & Co., LLC and MTS Partners, LP as investment banker. The Bankruptcy Court confirmed the chapter 11 plan on May 1, 2025. WELLPATH HOLDINGS: Order Dismissing Individual Defendants Vacated ----------------------------------------------------------------- The Honorable Robert J. White of the United States District Court for the Eastern District of Michigan granted Rebecca Leschinski's motion for reconsideration of the portion of the September 16, 2025 order dismissing the allegations in the second amended complaint asserted against the individual Wellpath Defendants in the case captioned as REBECCA LESCHINSKI, as Personal Representative of the Estate of Joseph Leschinski, Plaintiff, v. TOWNSHIP OF CANTON, et al., Defendants, Case No. 24-cv-10012 (E.D. Mich.). Rebecca Leschinski commenced this 42 U.S.C. Sec. 1983 wrongful death action on behalf of her husband's estate. She names, among others, Wellpath, LLC and its employees Jessica Candace-Ebony-Davis, Clarisse Carter, Charletta Dennis, Lilian Ekechukwu, Timothy Hayes, and Angela R. Latham as party defendants (the "Wellpath Defendants"). The second amended complaint alleges that the Wellpath Defendants failed to treat Leschinki's husband's withdrawal from severe alcohol intoxication at the Wayne County jail in violation of the Fourteenth Amendment to the United States Constitution. Leschinski seeks reconsideration on the ground that the Court dismissed all the Wellpath Defendants -- including the individual Wellpath Defendants -- when the underlying motion to partially dismiss the second amended complaint sought dismissal of Wellpath, LLC only. In response to Leschinski's reconsideration motion, Wellpath's counsel now concedes that he intended the partial motion to dismiss to encompass Wellpath, LLC only. He did not wish to include the individual Wellpath Defendants as well, even though they are identified as movants in the caption to the dismissal motion's supporting brief (albeit, incorrectly, as they are individual Wellpath employees from another unrelated Wellpath case). So it appears that Wellpath's counsel did not thoroughly review his own motion before filing it to the docket. Ms. Leschinki has now submitted uncontested proof that she did, in fact, opt-out of Wellpath's chapter 11 bankruptcy plan and objected to the third-party release. According to the Court, the most equitable way to proceed is to vacate the portion of the September 16, 2025 order dismissing the individual Wellpath Defendants from this lawsuit. The individual Wellpath Defendants will be permitted, however, to renew their motions to dismiss the second amended complaint on an expedited basis. Accordingly, Leschinski's motion for reconsideration is granted. A copy of the Court's Order dated April 17, 2026, is available at https://urlcurt.com/u?l=NuOoIw from PacerMonitor.com. About Wellpath Holdings Wellpath Holdings, Inc., formerly known as CCS-CMGC Holdings, Inc., is a provider of medical and mental healthcare in jails, prisons, and inpatient and residential treatment facilities. Wellpath Holdings and its affiliates sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Texas Lead Case No. 24-90533) on Nov. 11, 2024. Timothy Dragelin, chief restructuring officer and chief financial officer, signed the petitions. At the time of the filing, the Debtors reported $1 billion to $10 billion in assets and liabilities. Judge Alfredo R. Perez oversees the cases. The Debtors tapped Marcus A. Helt, Esq., at McDermott Will & Emery, LLP, as bankruptcy counsel; FTI Consulting, Inc., as financial advisor; and Lazard Freres & Co., LLC and MTS Partners, LP as investment banker. The Bankruptcy Court confirmed the chapter 11 plan on May 1, 2025. WHITEWATER WHISTLER: S&P Affirms 'BB' ICR as Leverage Remains High ------------------------------------------------------------------ S&P Global Ratings affirmed its 'BB' issuer credit rating on WhiteWater Whistler Holdings LLC (WWWH). At the same time, S&P affirmed its 'BB' issue-level rating and '3' recovery rating on its senior secured term loan B. The '3' recovery rating indicates its expectation for average (50%-70%; rounded estimate: 65%) recovery in a payment default. S&P said, "The stable outlook reflects our expectation that WWWH's proportionally consolidated leverage will remain above 7x in 2026 and approach the mid-5x area in 2027 as it completes construction of its natural gas pipelines. We expect leverage will materially improve when the projects are complete." S&P Global Ratings expects WWWH's adjusted proportionately consolidated leverage to remain elevated in the near term as construction on certain pipeline projects continue S&P said, "The affirmation reflects our expectation that WWWH's proportionately consolidated leverage will remain elevated due to the long lead time for its capital-intensive growth projects. WWWH its affiliates and partners are constructing a number of new natural gas pipelines. These include a natural gas pipeline extending to the Rio Grande liquefied natural gas facility and the Blackcomb and Traverse Pipeline system, which will span an area of approximately 525 combined miles and supply gas from west Texas to the Katy area and south Texas. "Our forecast reflects the aggressive capital spending and debt funding necessary for WWWH and its affiliates to achieve its proposed second half of 2026 in-service dates for the projects. This temporary spending will pressure S&P Global Ratings-adjusted credit metrics through 2026 given that the company won't begin to receive cash flow until the projects are operational. However, based on our current analysis and progress of construction, we believe the cash flow timing will enable WWWH to materially deleverage on a proportionately consolidated basis beginning in the fourth fiscal quarter. "We proportionally consolidate WWWH's ownership stakes in Whistler, Whistler's subsidiaries, and Bay Runner in our adjusted credit metrics. The company maintains ownership stakes of approximately 50.6% in the Whistler and Bay Runner pipelines, 35.4% in ADCC, 35.4% in Blackcomb and Traverse (BAT) and 25% in Waha Gas Storage. Combined with majority aggregate average ownership we believe WWWH has material control of Whistler and Bay Runner, thus we proportionally consolidate their credit measures. We no longer proportionately consolidate BAT based on WWWH's limited control over its assets, operations, and financial policy due to lower ownership than it has in other WhiteWater enterprise assets and governance provisions in the limited liability company agreement. While we recognize that any forecast or existing debt at these entities is nonrecourse to WWWH, we proportionally consolidate the applicable debt to reflect the company's relative control over the assets and our view that they are strategic to its business. The other operating asset partners have certain rights that limit WWWH's ability to fully dictate the financial policy of its asset base. As a result, we treat its ownership interest in BAT under the equity method. "We assume WWWH completes the pipelines on time and on budget. We believe they--like any new large-scale project--could face delays or cost overruns. WWWH began construction in the second half of fiscal 2024 and anticipate they will become operational in the second half of 2026. Our assessment of the construction and supply chain timelines is that it will meet proposed in-service dates for BAT and Bay Runner in 2026. We expect proportionally consolidated leverage will remain above 7x until it brings pipelines online and they generate cash flow, when we anticipate it will quickly deleverage. In addition, we do not expect the consolidated company to fund additional expansion initiatives using incremental debt or debt-like instruments that would further weaken its credit metrics or keep leverage above 7x longer than anticipated. "Our stable outlook reflects our expectations of construction on the various expansion projects being on time and on budget, as well as, the predictability and stability of WhiteWater Whistler Holdings, LLC's (WWWH) cash flows due to its significant percentage of contracted volumes. We expect S&P Global Ratings-adjusted Debt to EBITDA will improve from the near 7.5x range in 2026 to under 5.5x by the end of 2028 following the completion of the expansion projects." S&P could consider a negative rating action if it expects consolidated leverage sustained above 5.5x in 2027 and beyond. This could occur if WWWH: -- Faces delays or cost overruns during construction of these projects, requiring WhiteWater to extend extraordinary support; -- Pursues a more aggressive financial policy, including funding new growth initiatives through incremental debt or debt-like instruments; or -- Receives lower than expected distributions from the operating companies, reducing cash flow more than expected. S&P could consider a positive rating action if WWWH achieves an adjusted debt‐to‐ EBITDA ratio of below 5x on a consistent basis and we expect it to remain there long term. This would also require WWWH to: -- Complete the expansion projects on time and without issues such that EBITDA is in line with or better than our forecast; and -- Indicate a financial policy that supports maintaining consolidated leverage below 5x long term. WHITTAKER CLARK: 3rd Circuit Reaffirms Support for Chapter 11 ------------------------------------------------------------- Clara Geoghegan of Law360 Bankruptcy Authority reports that a Third Circuit panel on Monday, April 27, 2026, reaffirmed its earlier ruling that Whittaker Clark & Daniels was authorized to file for Chapter 11 protection and that claims against its successor entity must be addressed within the bankruptcy proceedings. The court again rejected challenges to the legitimacy of the filing, holding that corporate authorization requirements were satisfied. It further concluded that the disputed claims against the successor company are properly channeled through the bankruptcy court, the report states. The ruling strengthens the bankruptcy court's control over the dispute, ensuring that litigation involving successor liability remains centralized within the Chapter 11 case, the report relays. About Whittaker, Clark & Daniels Whittaker, Clark & Daniels, Inc. and affiliates, Brilliant National Services Inc., Soco West Inc. and L.A. Terminals Inc., were engaged in nonmetallic mineral mining and quarrying. The Debtors sought Chapter 11 protection (Bankr. D.N.J. Lead Case No. 23-13575) on April 26, 2023. The Debtors estimated $100 million to $500 million in assets against $1 billion to $10 billion in liabilities as of the bankruptcy filing. The Hon. Michael B. Kaplan is the case judge. The Debtors tapped Kirkland & Ellis LLP as general bankruptcy counsel; Cole Schotz P.C. as co-bankruptcy counsel; and M3 Partners LLC as financial advisor. Stretto, Inc. is the claims agent. The U.S. Trustee for Regions 3 and 9 appointed an official committee to represent talc claimants in the Debtors' Chapter 11 cases. The talc committee is represented by Cooley, LLP. The Hon. Shelley Chapman was appointed as the future claimants' representative (FCR) in the Chapter 11 cases. Willkie Farr & Gallagher, LLP is the FCR's counsel. WINE COUNTRY: Christy Brandon Named Subchapter V Trustee -------------------------------------------------------- The Acting U.S. Trustee for Region 18 appointed Christy Brandon as Subchapter V trustee for Wine Country Store, LLC. Ms. Brandon will be paid an hourly fee of $325 for her services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Ms. Brandon declared that she is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Christy L. Brandon PO Box 1544 Bigfork, MT 59911 (406) 837-5445 Email: christy@brandonlawfirm.com About Wine Country Store LLC Wine Country Store, based in Walla Walla, Washington, operates a convenience retail store offering fuel, packaged goods, and prepared food items, including sandwiches and beverages. The business serves local residents and travelers through its physical location and online ordering for pickup. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Wash. Case No. 26-00697) on April 14, 2026, with $2,199,522 in total assets as of March 31, 2026, and $7,845,516 in total liabilities as of March 31, 2026. Benjamin Kleban, manager, signed the petition. Judge Whitman L. Holt presides over the case. Richard B. Keeton, Esq., at Bush Kornfeld, LLP represents the Debtor as legal counsel. WISER SOLUTIONS: Seeks Chapter 11 Bankruptcy in Texas ----------------------------------------------------- Rieka Rahadiana of Bloomberg News reports that Wiser Solutions, Inc. sought Chapter 11 protection in the U.S. Bankruptcy Court for the Northern District of Texas, citing financial pressures in a recent filing. According to the petition, the company listed assets in the range of $50 million to $100 million and liabilities between $100 million and $500 million. The Chapter 11 process is expected to allow the company to reorganize its finances while maintaining ongoing business operations and servicing customers. About Wiser Solutions Inc. Wiser Solutions, Inc. is a U.S.-based technology company specializing in retail analytics and pricing intelligence solutions for brands and retailers. Wiser Solutions Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Tex. Case No. 26-80002) on April 26, 2026. In its petition, the Debtor reports assets in the range of $50 million to $100 million and liabilities between $100 million and $500 million. Honorable Bankruptcy Judge Scott W. Everett handles the case. The Debtor is represented by Katharine Battaia Clark, Esq. of Thompson Coburn LLP. WORKSPORT LTD: Adds 1.39MM Shares to 2022 Equity Incentive Plan --------------------------------------------------------------- Worksport Ltd. filed a Registration Statement on Form S-8 with the U.S. Securities and Exchange Commission for the purpose of registering an additional 1,390,634 shares of common stock, par value $0.001 per share of the Company, issuable pursuant to the Worksport Ltd. 2022 Equity Incentive Plan, as amended. These additional shares of Common Stock have become reserved for issuance as a result of the operation of the "evergreen" provision in the 2022 Plan, which provides that the total number of shares subject to the 2022 Plan will be increased on the first day of each fiscal quarter pursuant to a specified formula. Upon the effectiveness of this Registration Statement, an aggregate of 1,971,584 shares of Common Stock will be registered for issuance from time to time under the 2022 Plan. The contents of the previous Registration Statements on Form S-8 filed by the Registrant with the Securities and Exchange Commission on April 14, 2023 (File No. 333-271263), and March 28, 2025 (File No. 333-286236) pertaining to the 2022 Plan, to the extent not otherwise amended or superseded by the contents hereof, are incorporated by reference into this Registration Statement pursuant to General Instruction E of Form S-8. The Company may be reached by: Steven Rossi President, Chief Executive Officer & Chairman of the Board Worksport Ltd. 2500 N America Dr. West Seneca, NY 14224 Tel: 1-888-554-8789 A full text copy of the Registration Statement is available at https://tinyurl.com/yasehxuh About Worksport Ltd. West Seneca, N.Y.-based Worksport Ltd., through its subsidiaries, designs, develops, manufactures, and owns intellectual property on a portfolio of tonneau cover, solar integration, portable power station, and NP (Non-Parasitic), Hydrogen-based green energy products and solutions for the automotive aftermarket accessories, power storage, residential heating, and electric vehicle-charging industries. Buffalo, N.Y.-based Lumsden & McCormick, LLP, the Company's auditor since 2022, issued a "going concern" qualification in its report dated March 26, 2026, saying "The Company has experienced recurring net losses that raise substantial doubt about the Company's ability to continue as a going concern. Upon analysis of the Company's current financial situation and projected outlooks, we believe there is substantial doubt about the Company's ability to continue as a going concern." As of December 31, 2025, the Company had $30,714,074 in total assets and $7,837,853 in total liabilities, and total shareholders' equity of $22,876,221. WORKSPORT LTD: Reaffirms $35M–$42M Revenue Guidance on Nexus Launch --------------------------------------------------------------------- Worksport Ltd. announced the official commercial launch and commencement of sales for its highly anticipated Nexus Tonneau Cover, a premium tonneau cover, with innovative features previously unseen in the market. Following a successful production start on April 13, 2026, the Nexus cover is now available for purchase on the Company's B2C website and through its B2B distribution network. Early demand from established distributors with multi-million-dollar annual purchasing capacity--supports management's expectation that the Nexus platform can contribute millions in incremental revenue in 2026, while accelerating adoption across existing and new sales channels. The Nexus cover introduces a newly engineered operating system designed to materially improve ease-of-use, safety, and speed for truck owners. Unlike conventional folding tonneau covers that typically require users to walk around both sides of the vehicle to secure latches, the Nexus features a proprietary system that enables full operation from a single side of the truck while maintaining full-bed access. This design reduces repetitive movement, simplifies use in adverse conditions, and enhances safety in environments such as job sites, roadside settings, and busy parking areas. Strong Market Validation and Financial Impact Prior to the official launch, Worksport received approximately $250,000 in pre-orders interest for the Nexus cover. These initial orders are expressed from large-scale distributors with the capacity for multi-million-dollar annual purchase volumes, representing strong early validation of the product's value proposition and a meaningful signal of distributor confidence within the $4B Tonneau Cover market. Management notes that this level of initial pre-orders reflects early channel alignment and expected demand scalability. The Nexus launch is a key pillar in Worksport's strategy to achieve its previously announced full-year revenue guidance of $35 million to $42 million. Engineering Excellence: The 'Uplatch' Advantage Designed by Worksport's Missouri-based engineering team, the Nexus cover represents an evolution in traditional folding tonneau designs, addressing longstanding usability challenges identified through customer feedback and field experience. Traditional full-access folding covers have remained largely unchanged for decades, often requiring multiple trips around the vehicle and greater physical effort to lift and secure stacked panels. The Nexus addresses these limitations through its proprietary "Uplatch" system, which enables the cover to automatically secure on both sides when positioned upright behind the cab, all while being operated from a single side of the truck. Internal customer feedback and market observations indicated that multi-step operation, panel weight, and accessibility were among the most common friction points with existing folding tonneau covers. The Nexus platform was engineered to address these challenges within a single integrated design, enabling faster, easier, and more controlled operation. Key Technical Specifications: * Full Bed Access: Optimized for maximum utility and cargo space. * 'Light Weight': Through the unique design, the cover is easier to lift * Materials: Constructed from heavy-duty 16-gauge aluminum substrate. * Durability: Finished with a specialized "Diamond Shield Finish" protective coating * Ease of Use: Features a middle-panel pull strap for simplified operation for any truck * Pricing: MSRP ranging from $1,249 to $1,349, depending on vehicle application. Management Commentary Steven Rossi, Chief Executive Officer of Worksport, commented: "The Nexus represents a meaningful step forward in tonneau cover design," said Steven Rossi, Chief Executive Officer of Worksport. "For years, users have had to work around the limitations of traditional folding covers - walking around the vehicle multiple times, lifting heavier panels, and reaching into the bed to secure them. Nexus simplifies that entire experience into a premium, faster, safer and single-sided operation. The early response from our distribution partners reinforces our view that practical innovation - focused on real user challenges - drives adoption." About Worksport Ltd. West Seneca, N.Y.-based Worksport Ltd., through its subsidiaries, designs, develops, manufactures, and owns intellectual property on a portfolio of tonneau cover, solar integration, portable power station, and NP (Non-Parasitic), Hydrogen-based green energy products and solutions for the automotive aftermarket accessories, power storage, residential heating, and electric vehicle-charging industries. Buffalo, N.Y.-based Lumsden & McCormick, LLP, the Company's auditor since 2022, issued a "going concern" qualification in its report dated March 26, 2026, saying it has experienced recurring net losses that raise substantial doubt about its ability to continue as a going concern. Upon analysis of its current financial situation and projected outlooks, the Company believes there is substantial doubt about its ability to continue as a going concern. As of December 31, 2025, the Company had $30,714,074 in total assets and $7,837,853 in total liabilities, and total shareholders' equity of $22,876,221. WORLDSTRIDES: Moody's Assigns 'Caa2' CFR, Outlook Stable -------------------------------------------------------- Moody's Ratings assigned to Lakeland Tours, LLC (dba "WorldStrides") a Caa2 corporate family rating and a Caa2-PD probability of default rating. At the same time, Moody's assigned a Caa3 rating to the company's $174 million senior secured second-lien term loan due March 31, 2030. The outlook is stable. WorldStrides, headquartered in Charlottesville, Viriginia, is an accredited educational institution that provides experiential travel-based learning programs from K-12 to graduate level. Last month, WorldStrides completed debt and equity restructuring transactions with Eurazeo and Primavera Capital Group ("the sponsors") and lenders to refinance its debt and address near-term liquidity constraints. The company entered new second-lien term loans due 2030, adjusted its first-lien credit terms by extending debt maturities to April 2028, modified covenants, obtained an option to defer $11 million in cash interest payments until October 2026, and issued new Class A and Class B shares. As part of the refinancing, the company reduced its debt by about $185 million. The new capital structure consists of a $60 million senior secured first-lien revolver due April 2028 (unrated), a $171 million senior secured first-lien term loan due April 2028 (unrated), a $192 million senior secured first-lien delayed draw term loan due April 2028 (unrated), and a $174 million second-lien term loans (combined Sponsor 2L and Holdco 2L) due March 2030. "Moody's believes the refinancing gives the company only a short window to execute its turnaround and address its challenging capital structure, while liquidity remains tight," said Oleg Markin, Moody's Ratings analyst. "WorldStrides will need to rely frequently on its revolving credit facility to meet seasonal borrowing needs, and one-time deal-related expenses will continue to put pressure on cash flow in 2026, requiring careful cash management, added Oleg." ESG governance considerations were key factors in the rating assignment. Given the company's capital structure complexity, high debt/EBITDA leverage, refinancing risk, and weak cash flow generation result in an untenable capital structure that will need to be addressed over the next 12-18 months. RATINGS RATIONALE The Caa2 CFR reflects WorldStrides' weak liquidity and highly leveraged capital structure, with Moody's expectations that debt/EBITDA (based on Moody's adjustments) is likely to stay around mid-8x over the next 12-18 months, elevating default risk. Moody's believes the company has an untenable capital structure due to high interest cost burden, increasing debt balances due to flexibility in the agreement to PIK interest, and near-term refinancing risk. This is further exacerbated by the company's highly seasonal business, which causes significant quarterly cash flow fluctuations, necessitating frequent use of its revolving credit facility. Moody's projects WorldStrides will continue to have cash flow deficits in 2026 due to residual one-time expenses and will require additional funding to bridge the liquidity gap. The company operates in a niche, mature market vulnerable to consumer spending and geopolitical risks. Its profitability is low, with EBITDA margins (based on Moody's adjustments) in the high single digits, and may decline further due to inflationary pressures. All financial metrics cited reflect Moody's standard adjustments. Positive credit consideration is given to WorldStrides' operating scale and its market position as one of the leading providers of full service domestic and international travel and education services with a well-known brand presence. WorldStrides' teacher advocate network provides the company with a way to maintain brand presence in schools and thus support retention for its programs. The company also has a well-diversified customer base with broad geographical footprints and programs that span the K-12, undergraduate and graduate classes. On the cost side, the company's market position provides the ability to negotiate favorable rates with numerous airlines, coach lines and hotels, which could help extract certain cost savings to support margins. Post-covid revenue recovery initially came at the expense of margins, particularly in K-12 group travel, but pricing discipline and discount controls implemented over the last 24 months have restored gross profit margins. WorldStrides operates asset-lite model and collects deposits on travel itineraries well in advance of service provisioning, which provides some visibility into forward free cash flow generation. Finally, the company's Sponsors have contributed additional capital since 2024, demonstrating willingness to support the business through stress periods. Moody's expects WorldStrides to have a weak liquidity over the next 12-15 months. Moody's projects cash flow deficits over the next several quarters given high debt service cost. Sources of liquidity consist of approximately $24 million of unrestricted cash balances as of April 2026 and a $60 million revolving credit facility due 2028, which Moody's expects to be fully drawn by July 2026. The company has access to an incremental $11 million second-lien term loan from the Sponsors, which Moody's expects will be funded in summer of 2026. Proceeds from the incremental second-lien loan will be used to fund working capital needs and subsequently repay the $11 million deferred first-lien interest plus fees by October 31, 2026. The first-lien credit agreement also requires periodic principal payments of about $3.5 million, paid quarterly. Moody's believes the company's liquidity may be limited to fund operations over the next 12 months. The first-lien and second-lien credit agreements include a maximum net senior secured leverage covenant, with the tightest leverage ratio set in the first-lien credit agreement at 5.875x for 2026 (ending September 30, 2026), followed by a quarterly step-down to 4.375x on December 31, 2027 and thereafter. Moody's expects the company will remain compliant with applicable covenants over the next 12-15 months. The Caa3 ratings assigned to the new second-lien senior secured term loans (consisting of a $37.9 million Sponsor 2L and a $135.7 million Holdco 2L due 2030), are one notch below the company's assigned Caa2 CFR. The second-lien term loans are contractually subordinated in right of payment to the debt outstanding under the first-lien agreement. Lakeland Tours, LLC is the borrower under the first-lien and second-lien credit agreements. The credit facilities are unconditionally guaranteed on a senior secured basis by Lakeland Finance, LLC (direct Holding company of the borrower) and the borrower's direct wholly-owned restricted domestic operating subsidiaries. Lakeland Holdings, LLC is financial reporting entity but does not provide an explicit standalone parent-level guarantee to the borrower. According to management, Lakeland Holdings, LLC and Lakeland Tours, LLC are economically indistinguishable, and the consolidated financial statements appropriately reflect the credit profile and debt-servicing capacity of the borrower group. Lakeland Holdings, LLC and the other intermediate entities above Lakeland Tours, LLC have no other operations, cash flows, material assets or liabilities other than the equity interests in the borrower. The stable outlook reflects Moody's expectations for continued financial support from the sponsors, despite ongoing concerns regarding WorldStrides's near-term liquidity and its need to establish a more sustainable capital structure. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS WorldStrides' ratings may be upgraded if the company proactively addresses refinancing risk, shows strong earnings recovery, and improves liquidity by reducing reliance on the revolving credit facility. The ratings could be downgraded if liquidity is weaker than anticipated, if the company defaults, or if Moody's expects debt recovery estimates to deteriorate. The principal methodology used in these ratings was Business and Consumer Services published in February 2026. Headquartered in Charlottesville, Virginia, WorldStrides is an accredited educational institution that provides full service educational travel programs to K-12, undergraduate and post graduate students, both domestically and internationally. Moody's projects WorldStrides will generate annual revenue approaching $800 million in 2026. The company is owned by Eurazeo, a minority sponsor Primavera Capital Group and management. WREN US: Seeks Chapter 7 Bankruptcy Abruptly with Over $100MM Debt ------------------------------------------------------------------ Emily Lever of Law360 reports that Wren US Holdings Inc., a northeastern U.S.-based kitchen design company, has sought Chapter 7 protection in Delaware, reporting assets and liabilities each ranging from $100 million to $500 million. The bankruptcy filing signals a move toward liquidation as the company winds down its U.S. operations. Court filings indicate the debtor will liquidate its assets under Chapter 7 to address outstanding obligations to creditors. Filed on April 24, 2026, the case is part of a broader set of insolvency proceedings involving affiliated entities tied to the Wren Kitchens brand. The substantial financial figures highlight the magnitude of the company’s U.S. footprint prior to its collapse, the report states. About Wren US Holdings Inc. Wren US Holdings Inc. is a kitchen design business serving the northeastern United States. Wren US Holdings Inc. sought relief under Chapter 7 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 26-10581) on April 24, 2026. In its petition, the Debtor reports assets and liabilities each ranging from $100 million to $500 million. The Debtor is represented by Zachary I. Shapiro, Esq. and James McCauley, Esq. of Richards, Layton & Finger, P.A. WW INTERNATIONAL: To Pay Down $40MM Debt, Maintains FY Outlook -------------------------------------------------------------- Janine Panzer of Bloomberg News reports that WW International Inc. disclosed that it intends to allocate up to $40 million in cash toward prepaying and reducing the principal of its term loan, part of broader efforts to manage its debt profile. The company said it will execute a cash sweep payment estimated between $25 million and $30 million, which is scheduled to be made on or before June 24 under the terms of its financing arrangements. Separately, WW International plans to pursue a voluntary solicitation to prepay as much as $10 million of its debt at a discount, a strategy designed to lower overall repayment costs, the report relays. Alongside these actions, the company reaffirmed its first-quarter 2026 subscriber outlook and maintained its full-year guidance, reflecting continued confidence in its operating trajectory, 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 themfor 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. [^] Recent Small-Dollar & Individual Chapter 11 Filings ------------------------------------------------------- In re L&S Auto Brokers Inc Bankr. E.D. Va. Case No. 26-31664 Chapter 11 Petition filed April 22, 2026 See https://www.pacermonitor.com/view/UGQ7Y4Q/LS_Auto_Brokers_Inc__vaebke-26-31664__0001.0.pdf?mcid=tGE4TAMA Filed Pro Se In re 451 Hancock LLC Bankr. E.D.N.Y. Case No. 26-71579 Chapter 11 Petition filed April 22, 2026 See https://www.pacermonitor.com/view/RNGV5BQ/451_Hancock_LLC__nyebke-26-71579__0001.0.pdf?mcid=tGE4TAMA Filed Pro Se In re 458 Bridgehampton Sag Harbor, LLC Bankr. E.D.N.Y. Case No. 26-71604 Chapter 11 Petition filed April 23, 2026 See https://www.pacermonitor.com/view/2FAKFVQ/458_Bridgehampton_Sag_Harbor_LLC__nyebke-26-71604__0001.0.pdf?mcid=tGE4TAMA Filed Pro Se In re Honey Brands Inc. Bankr. N.D. Ill. Case No. 26-07105 Chapter 11 Petition filed April 23, 2026 See https://www.pacermonitor.com/view/4QYYSPQ/Honey_Brands_Inc__ilnbke-26-07105__0001.0.pdf?mcid=tGE4TAMA represented by: Joel Schechter, Esq. LAW OFFICES OF JOEL. A. SCHECHTER E-mail: joelschechter1953@gmail.com In re Topper Corporation Bankr. D. P.R. Case No. 26-01815 Chapter 11 Petition filed April 23, 2026 See https://www.pacermonitor.com/view/POWHKCQ/TOPPER_CORPORATION__prbke-26-01815__0001.0.pdf?mcid=tGE4TAMA represented by: Jesus Enrique Batista Sanchez, Esq. THE BATISTA LAW GROUP, PSC E-mail: jeb@batistasanchez.com In re Marshall Jones Bouldin, IV Bankr. M.D. Tenn. Case No. 26-01902 Chapter 11 Petition filed April 23, 2026 See https://www.pacermonitor.com/view/HBCP2QY/Marshall_Jones_Bouldin_IV__tnmbke-26-01902__0001.0.pdf?mcid=tGE4TAMA represented by: Robert J. Gonzales, Esq. EMERGELAW, PLC Email: ecf@emerge.law In re Doris Areatha Bell Bankr. N.D. Ala. Case No. 26-80959 Chapter 11 Petition filed April 23, 2026 represented by: Kevin Heard, Esq. In re Rashaun L Little Bankr. N.D. Ill. Case No. 26-07055 Chapter 11 Petition filed April 23, 2026 represented by: Joseph Olstein, Esq. In re Monique King Bankr. D.C. Case No. 26-00202 Chapter 11 Petition filed April 22, 2026 represented by: Claude Alde, Esq. In re Vivian Acevedo-Fonseca Bankr. D. N.J. Case No. 26-14437 Chapter 11 Petition filed April 22, 2026 represented by: Andy Winchell, Esq. In re Willie Smith, III Bankr. W.D. La. Case No. 26-80268 Chapter 11 Petition filed April 22, 2026 represented by: L. Henry, Esq. In re Andrew Christian Dwyer Cote Bankr. D. Colo. Case No. 26-12753 Chapter 11 Petition filed April 22, 2026 represented by: Aaron Garber, Esq. WADSWORTH GARBER WARNER CONRARDY PC In re Callahan Enterprises, LLC Bankr. D. Ariz. Case No. 26-04051 Chapter 11 Petition filed April 24, 2026 See https://www.pacermonitor.com/view/5KVCESI/Callahan_Enterprises_LLC__azbke-26-04051__0001.0.pdf?mcid=tGE4TAMA represented by: M. Preston Gardner, Esq. DAVIS MILES, PLLC E-mail: azbankruptcy@davismiles.com In re Kingdom Real Estate Holdings, LLC Bankr. M.D. Fla. Case No. 26-03489 Chapter 11 Petition filed April 24, 2026 See https://www.pacermonitor.com/view/ISEWO4A/Kingdom_Real_Estate_Holdings_LLC__flmbke-26-03489__0001.0.pdf?mcid=tGE4TAMA represented by: Jake C. Blanchard, Esq. BLANCHARD LAW, P.A. E-mail: jake@jakeblanchardlaw.com In re MG 543 N Grove St LLC Bankr. D. N.J. Case No. 26-14554 Chapter 11 Petition filed April 24, 2026 Filed Pro Se In re JP Design and Construction, LLC Bankr. M.D. Tenn. Case No. 26-01911 Chapter 11 Petition filed April 24, 2026 See https://www.pacermonitor.com/view/IGVDRTY/JP_DESIGN_AND_CONSTRUCTION_LLC__tnmbke-26-01911__0001.0.pdf?mcid=tGE4TAMA represented by: Jay R. Lefkovitz, Esq. LEFKOVITZ & LEFKOVITZ, PLLC E-mail: jlefkovitz@lefkovitz.com In re Power Moves Electric, LLC Bankr. E.D.N.C. Case No. 26-01843 Chapter 11 Petition filed April 24, 2026 See https://www.pacermonitor.com/view/RWBQJHY/Power_Moves_Electric_LLC__ncebke-26-01843__0001.0.pdf?mcid=tGE4TAMA represented by: Danny Bradford, Esq. PAUL D. BRADFORD, PLLC E-mail: dbradford@bradford-law.com In re White Rhino Productions, Inc. Bankr. D. Mass. Case No. 26-10909 Chapter 11 Petition filed April 22, 2026 See https://www.pacermonitor.com/view/HEZ2O3Y/White_Rhino_Productions_Inc__mabke-26-10909__0001.0.pdf?mcid=tGE4TAMA represented by: Jesse Redlener, Esq. ASCDENDANT LAW GROUP, LLC E-mail: jredlener@ascendantlawgroup.com In re RMA CA, Inc. Bankr. C.D. Calif. Case No. 26-13916 Chapter 11 Petition filed April 22, 2026 See https://www.pacermonitor.com/view/SNF32BI/RMA_CA_INC__cacbke-26-13916__0001.0.pdf?mcid=tGE4TAMA represented by: Thomas B. Ure, Esq. URE LAW FIRM E-mail: tom@urelawfirm.com In re Ceres Roasting Company, LLC Bankr. W.D. Wash. Case No. 26-11316 Chapter 11 Petition filed April 22, 2026 See https://www.pacermonitor.com/view/OLGCLQA/Ceres_Roasting_Company_LLC__wawbke-26-11316__0001.0.pdf?mcid=tGE4TAMA represented by: Steven M. Palmer, Esq. CAIRNCROSS & HEMPELMANN, P.S. E-mail: spalmer@cairncross.com In re Dexter Ave Development, LLC Bankr. E.D. Mich. Case No. 26-44562 Chapter 11 Petition filed April 22, 2026 See https://www.pacermonitor.com/view/LZKA6ZQ/Dexter_Ave_Development__LLC__miebke-26-44562__0001.0.pdf?mcid=tGE4TAMA represented by: C. Jason Cardasis, Esq. B.O.C. LAW GROUP, P.C. In re Premier Generator Service LLC Bankr. E.D. Mich. Case No. 26-30965 Chapter 11 Petition filed April 22, 2026 See https://www.pacermonitor.com/view/UTMOXBY/Premier_Generator_Service_LLC__miebke-26-30965__0001.0.pdf?mcid=tGE4TAMA represented by: George E. Jacobs, Esq. BANKRUPTCY LAW OFFICES E-mail: george@bklawoffice.com In re The Brothers & Sisters Barber Cosmo [BSBACA] Bankr. N.D. Calif. Case No. 26-40814 Chapter 11 Petition filed April 20, 2026 See https://www.pacermonitor.com/view/LE7WXDQ/The_Brothers__Sisters_Barber__canbke-26-40814__0001.0.pdf?mcid=tGE4TAMA Filed Pro Se In re Strategic Property Management Bankr. M.D.N.C. Case No. 26-50303 Chapter 11 Petition filed April 21, 2026 See https://www.pacermonitor.com/view/UUXULWI/Strategic_Property_Management__ncmbke-26-50303__0001.0.pdf?mcid=tGE4TAMA Filed Pro Se In re West Seattle Natural Energy, LLC Bankr. W.D. Wash. Case No. 26-11279 Chapter 11 Petition filed April 20, 2026 See https://www.pacermonitor.com/view/UU5UDLI/West_Seattle_Natural_Energy_LLC__wawbke-26-11279__0001.0.pdf?mcid=tGE4TAMA represented by: Kathryn P. Scordato, Esq. SCORDATO LAW, PLLC E-mail: kathryn@scordatolaw.com In re Ocoee Botanicals, LLC Bankr. E.D. Tenn. Case No. 26-11036 Chapter 11 Petition filed April 20, 2026 See https://www.pacermonitor.com/view/WKNXAOQ/Ocoee_Botanicals_LLC__tnebke-26-11036__0001.0.pdf?mcid=tGE4TAMA represented by: Roy Michael Roman, Esq. RMR LEGAL PLLC E-mail: Roymichael@rmrlegal.com In re Dawn Lauren Light Bankr. E.D. Mich. Case No. 26-44721 Chapter 11 Petition filed April 24, 2026 represented by: Lynn Brimer, Esq. In re Shobha Kanherkar and Sanjeev Kanherkar Bankr. D. Colo. Case No. 26-12856 Chapter 11 Petition filed April 24, 2026 represented by: Jeffrey Weinman, Esq. MICHAEL BEST & FRIEDRICH LLP Email: Jeffrey.Weinman@michaelbest.com In re Brian Walter Dujmovich and Lorrie Marie Dujmovich Bankr. W.D. Wash. Case No. 26-11358 Chapter 11 Petition filed April 24, 2026 represented by: Thomas Neeleman, Esq. In re Gary Steven Costello Bankr. S.D. Fla. Case No. 26-15194 Chapter 11 Petition filed April 24, 2026 represented by: Brian McMahon, Esq. In re B&A Childcare Services of Atlanta, Inc. Bankr. N.D. Ga. Case No. 26-55321 Chapter 11 Petition filed April 22, 2026 See https://www.pacermonitor.com/view/I7O5WEQ/BA_CHILDCARE_SERVICES_OF_ATLANTA__ganbke-26-55321__0001.0.pdf?mcid=tGE4TAMA represented by: Paul Reece Marr, Esq. PAUL REECE MARR, P.C. E-mail: paul.marr@marrlegal.com In re Gravitas NW, LLC Bankr. D.C. Case No. 26-00199 Chapter 11 Petition filed April 22, 2026 See https://www.pacermonitor.com/view/TKK3DPQ/Gravitas_NW_LLC__dcbke-26-00199__0001.0.pdf?mcid=tGE4TAMA represented by: Charles E Walton, Esq. WALTON LAW GROUP E-mail: cwalton@cwaltonlaw.com In re Concord Industrial Products, Inc. Bankr. C.D. Calif. Case No. 26-13154 Chapter 11 Petition filed April 23, 2026 See https://www.pacermonitor.com/view/E76MZOY/Concord_Industrial_Products_Inc__cacbke-26-13154__0001.0.pdf?mcid=tGE4TAMA represented by: Christopher J. Langley, Esq. SHIODA LANGLEY & CHANG LLP E-mail: chris@sclawoffice.com In re Luv Shak Hospitality, Inc. Bankr. S.D. Fla. Case No. 26-15130 Chapter 11 Petition filed April 23, 2026 See https://www.pacermonitor.com/view/OM4FV6A/Luv_Shak_Hospitality_Inc__flsbke-26-15130__0001.0.pdf?mcid=tGE4TAMA represented by: Adam I. Skolnik, Esq. LAW OFFICE OF ADAM I. SKOLNIK, PA E-mail: askolnik@skolniklawpa.com In re Consignment Crush LLC Bankr. N.D. Tex. Case No. 26-41788 Chapter 11 Petition filed April 24, 2026 See https://www.pacermonitor.com/view/ELMDZ3Y/Consignment_Crush_LLC__txnbke-26-41788__0001.0.pdf?mcid=tGE4TAMA represented by: Robert T DeMarco, Esq. DEMARCO MITCHELL, PLLC E-mail: robert@demarcomitchell.com In re Brachio, LLC Bankr. E.D. Va. Case No. 26-10972 Chapter 11 Petition filed April 24, 2026 See https://www.pacermonitor.com/view/7PD4D2Y/Brachio_LLC__vaebke-26-10972__0001.0.pdf?mcid=tGE4TAMA represented by: Edward J. Grass, Esq. THE GRASS LAW FIRM, LLC E-mail: egrass@me.com In re Haydee's Cafe LLC Bankr. N.D. Ga. Case No. 26-20624 Chapter 11 Petition filed April 24, 2026 See https://www.pacermonitor.com/view/TFXUKDA/Haydees_Cafe_LLC__ganbke-26-20624__0001.0.pdf?mcid=tGE4TAMA represented by: William Rountree, Esq. ROUNTREE, LEITMAN, KLEIN & GEER, LLC E-mail: wrountree@rlkglaw.com In re Jaime H Resnick Bankr. D. N.J. Case No. 26-13790 Chapter 11 Petition filed April 3, 2026 Filed Pro Se In re 7eaven Global Construction LLC Bankr. N.D. Ga. Case No. 26-54588 Chapter 11 Petition filed April 6, 2026 Filed Pro Se In re E Port 237 Pine Street LLC Bankr. D. N.J. Case No. 26-13846 Chapter 11 Petition filed April 7, 2026 In re The Dock on Cooley LLC Bankr. E.D. Mich. Case No. 26-30869 Chapter 11 Petition filed April 8, 2026 See https://www.pacermonitor.com/view/EU756ZY/THE_DOCK_ON_COOLEY_LLC__miebke-26-30869__0001.0.pdf?mcid=tGE4TAMA represented by: Robert Bassel, Esq. ROBERT N. BASSEL E-mail: bbassel@gmail.com In re Superior Disposal, LLC Bankr. D. Kan. Case No. 26-10345 Chapter 11 Petition filed April 8, 2026 See https://www.pacermonitor.com/view/RS222MQ/Superior_Disposal_LLC__ksbke-26-10345__0001.0.pdf?mcid=tGE4TAMA represented by: Martin Peck, Esq. MARTIN J. PECK, ATTORNEY AT LAW E-mail: peck@martinjpeck.com In re Infinity Tire Supplies, LLC Bankr. M.D. Fla. Case No. 26-01533 Chapter 11 Petition filed April 8, 2026 See https://www.pacermonitor.com/view/3PREQ5I/Infinity_Tire_Supplies_LLC__flmbke-26-01533__0001.0.pdf?mcid=tGE4TAMA represented by: Thomas Adam, Esq. ADAM LAW GROUP, PA E-mail: tadam@adamlawgroup.com In re Supportive Hands Hospice Inc. Bankr. D. Ariz. Case No. 26-03445 Chapter 11 Petition filed April 9, 2026 In re Salim Group Trust Bankr. S.D.N.Y. Case No. 26-10853 Chapter 11 Petition filed April 14, 2026 See https://www.pacermonitor.com/view/FT3F5SI/Salim_Group_Trust__nysbke-26-10853__0001.0.pdf?mcid=tGE4TAMA Filed Pro Se In re Golden Billion Trust Bankr. S.D.N.Y. Case No. 26-10851 Chapter 11 Petition filed April 14, 2026 See https://www.pacermonitor.com/view/4EMIXXQ/Golden_Billion_Trust__nysbke-26-10851__0001.0.pdf?mcid=tGE4TAMA Filed Pro Se In re International Union of Police Associations Local 6020 Bankr. S.D. Fla. Case No. 26-14757 Chapter 11 Petition filed April 16, 2026 See https://www.pacermonitor.com/view/2UHEMNI/International_Union_of_Police__flsbke-26-14757__0001.0.pdf?mcid=tGE4TAMA represented by: Chad Van Horn, Esq. VAN HORN LAW GROUP, P.A. E-mail: chad@cvhlawgroup.com In re Timothy Chamberlain Bankr. D. Md. Case No. 26-14083 Chapter 11 Petition filed April 16, 2026 represented by: Michelle Maloney-Raymond, Esq. In re Destiny Dance Studio LLC Bankr. N.D. Ga. Case No. 26-54467 Chapter 11 Petition filed April 3, 2026 Filed Pro Se In re Hercules Materials, LLC Bankr. W.D. Tex. Case No. 26-10728 Chapter 11 Petition filed April 26, 2026 See https://www.pacermonitor.com/view/YQWFSPY/Hercules_Materials_LLC__txwbke-26-10728__0001.0.pdf?mcid=tGE4TAMA represented by: An Nguyen, Esq. NGUYEN LAW, PLLC E-mail: bankruptcy@anwinlaw.com In re Temesgen Beriso Bankr. D. Ore. Case No. 26-31484 Chapter 11 Petition filed April 27, 2026 represented by: Douglas Ricks, Esq. SUSSMAN SHANK LLP In re Kirk D Carlson and Waneta J Carlson Bankr. W.D. Wash. Case No. 26-11394 Chapter 11 Petition filed April 27, 2026 represented by: Jennifer Neeleman, Esq. In re Kyeung Suk Yeh Bankr. C.D. Calif. Case No. 26-14085 Chapter 11 Petition filed April 27, 2026 In re Marc Aaron Wichansky Bankr. D. Ariz. Case No. 26-04103 Chapter 11 Petition filed April 27, 2026 represented by: Christopher Kaup, Esq. TIFFANY & BOSCO, P.A. In re Monesa Qasemi and Qasemi Abdul Moqim Bankr. N.D. Calif. Case No. 26-40870 Chapter 11 Petition filed April 27, 2026 In re Jacqueline E. McCullough Bankr. D. N.J. Case No. 26-14636 Chapter 11 Petition filed April 27, 2026 represented by: Melinda Middlebrooks, Esq. In re William Shocinski Bankr. D. Minn. Case No. 26-31371 Chapter 11 Petition filed April 27, 2026 represented by: Yury Suponitsky, Esq. In re Hummingbird Elite Real Estate Holdings LLC Bankr. E.D.N.Y. Case No. 26-42013 Chapter 11 Petition filed April 27, 2026 See https://www.pacermonitor.com/view/IBDB4DA/Hummingbird_Elite_Real_Estate__nyebke-26-42013__0001.0.pdf?mcid=tGE4TAMA represented by: Narissa A. Joseph, Esq. NARISSA JOSEPH E-mail: njosephlaw@aol.com In re All American Worldwide Inc. Bankr. N.D. Tex. Case No. 26-31797 Chapter 11 Petition filed April 27, 2026 See https://www.pacermonitor.com/view/6MNCF4Y/All_American_Worldwide_Inc__txnbke-26-31797__0001.0.pdf?mcid=tGE4TAMA represented by: Brandon Tittle, Esq. TITTLE SANTIAGO, PLLC E-mail: btittle@tittlelawgroup.com In re Wabeek Ridge Homeowners Association Bankr. E.D. Mich. Case No. 26-44803 Chapter 11 Petition filed April 27, 2026 See https://www.pacermonitor.com/view/AMPXUNA/Wabeek_Ridge_Homeowners_Association__miebke-26-44803__0001.0.pdf?mcid=tGE4TAMA represented by: Robert Bassel, Esq. ROBERT N. BASSEL E-mail: bbassel@gmail.com In re One Source Realty, LLC Bankr. D. N.J. Case No. 26-14587 Chapter 11 Petition filed April 25, 2026 See https://www.pacermonitor.com/view/5ZAMNHI/One_Source_Realty_LLC__njbke-26-14587__0001.0.pdf?mcid=tGE4TAMA represented by: Robert Wachtel, Esq. LAW OFFICE OF ROBERT WACHTEL E-mail: robertwachtel54@gmail.com In re PNW Pizza, Inc. Bankr. W.D. Wash. Case No. 26-41221 Chapter 11 Petition filed April 27, 2026 See https://www.pacermonitor.com/view/XJVAX2Q/PNW_Pizza_Inc__wawbke-26-41221__0001.0.pdf?mcid=tGE4TAMA represented by: Thomas D. Neeleman, Esq. NEELEMAN LAW GROUP, P.C. E-mail: courtmail@expresslaw.com In re 230 Bond St LLC Bankr. D. N.J. Case No. 26-14742 Chapter 11 Petition filed April 28, 2026 See https://www.pacermonitor.com/view/5PE5NXI/Michael_C_230_Bond_St_LLC__njbke-26-14742__0001.0.pdf?mcid=tGE4TAMA represented by: Michael Schonberger, Esq. LAW OFFICE OF MICHAEL C. SCHONBERGER, LLC Email: michael@bergeresq.com In re Melvin Francisco Mathews Bermudez and Lesbia Enid Medina Bello Bankr. D. P.R. Case No. 26-01875 Chapter 11 Petition filed April 28, 2026 represented by: Jacqueline Hernandez Santiago, Esq. In re Ali Mohammad Bankr. D. Neb. Case No. 26-40486 Chapter 11 Petition filed April 28, 2026 represented by: Patrick Turner, Esq. In re Sheryl L Hoye Bankr. W.D. Wash. Case No. 26-11406 Chapter 11 Petition filed April 28, 2026 represented by: Jennifer Neeleman, Esq. In re Omar Deen Bankr. C.D. Calif. Case No. 26-11315 Chapter 11 Petition filed April 28, 2026 represented by: J. Williams, Esq. In re Elena A. Christofides Bankr. S.D. Ohio Case No. 26-51970 Chapter 11 Petition filed April 28, 2026 represented by: David Whittaker, Esq. In re Kainoa F. Baldonado and Jenna N Baldonado Bankr. W.D. Tenn. Case No. 26-22354 Chapter 11 Petition filed April 28, 2026 represented by: John Dunlap, Esq. In re Willie Steward and Jannifer S. Steward Bankr. W.D. Tenn. Case No. 26-22327 Chapter 11 Petition filed April 27, 2026 represented by: John Dunlap, Esq. In re Owen Mathew Runnals and Evelyn Fernanda Runnals Bankr. C.D. Calif. Case No. 26-13298 Chapter 11 Petition filed April 27, 2026 represented by: Michael Berger, Esq. ********* On Thursdays, the TCR delivers a list of recently filed Chapter 11 cases involving less than $1,000,000 in assets and liabilities delivered to nation's bankruptcy courts. The list includes links to freely downloadable images of these small-dollar petitions in Acrobat PDF format. Each Friday's edition of the TCR includes a review about a book of interest to troubled company professionals. 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