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260512.mbx T R O U B L E D C O M P A N Y R E P O R T E R Tuesday, May 12, 2026, Vol. 30, No. 132 Headlines 100 MCKNIGHT: Court Extends Cash Collateral Access to May 23 1214 STREET: Starts Chapter 7 Bankruptcy in New York 1415 BENNETT: Voluntary Chapter 11 Case Summary 25 MY RENTCO: Seeks to Tap Braunstein Turkish as Litigation Counsel 307 TROY AVE: Seeks to Tap Balisok & Kaufman as Bankruptcy Counsel 3103 TEN: Claims to be Paid from Property Sale Proceeds 407 SMILEY: Claims to be Paid from Available Cash & Rental Income 590-600 REALTY: Commences Chapter 11 Bankruptcy in New York 6363 WEST 73RD: Seeks to Tap Schneider & Stone as Legal Counsel 769 EAST: Commences Chapter 11 Bankruptcy in New York 7TH STATE BUILDERS: Unsecureds Will Get 11.7% over 3 Years ACCUPRO GROUP: Commences Chapter 11 Bankruptcy in New York AESTUARY INC: Silverview Wants Receiver for $27 Million Loan AGUA VIVA: Unsecured Creditors Will Get 100% of Claims in Plan ALLITCON INC: Unsecureds to Get 12 Cents on Dollar in Plan ANTONIO MUNOZ: Seeks to Hire Noteware Law Firm as Special Counsel APOGEE BREWING: Amends Several Secured Claims Pay Details ARCHER MOTORSPORTS: Gets Interim OK to Use Cash Collateral ASCEND ELEMENTS: Limits TKJV, RMF, United Electric's Credit Bid ATLANTIC OVERSEAS: To Employ SVN Commercial as Commercial Realtor BARTRAM LOGISTICS: Seeks to Sell Miscellaneous Property BAXSTO LLC: Amends Unsecured Claims Pay Details BBBB GP: Commences Subchapter V Bankruptcy in Texas BEASLEY BROADCAST: Settles Exchange Offer, Secures $35MM ABL Line BESTAR INC: Obtains Interim Protection for U.S.-Based Assets BIG DIGITAL: Joint Mining Agreement Targets Near-Term Revenue BLUE SUN: Unsecureds to Get Share of Income for 5 Years BROOKDALE SENIOR: BlackRock Portfolio Holds 2.3% Equity Stake BUD'S DUMPSTER: Case Summary & 13 Unsecured Creditors BUDS' TRUCKING: Case Summary & Six Unsecured Creditors BUILDERS FIRSTSOURCE: S&P Alters Outlook to Neg., Affirms 'BB' ICR CALLAHAN ENTERPRISES: Gets Interim OK to Use Cash Collateral CALLAHAN ENTERPRISES: Gets OK to Hire Davis Miles as Legal Counsel CBD LEWIS: Voluntary Chapter 11 Case Summary CHARLES & COLVARD: Court Sets June 22 for Final Asset Sale Hearing CLAY YOUNG: Seeks Subchapter V Bankruptcy in Mississippi CLEARSIDE BIOMEDICAL: Includes Existing Common Stock Pay Details CLIFFORD HARTFORD: Seeks to Tap Neubert Pepe & Monteith as Counsel CLNA HOLDINGS: UCC Public Sale Scheduled for May 12 COGHLAN PLANTING: Taps Law Offices of Geno and Steiskal as Counsel COMMERCIAL VEHICLE: S&P Affirms 'B-' ICR, Outlook Negative CONNECTICUT HEALTHCARE: Gets Temporary Chapter 15 Asset Protection CONTROLLED CHAOS: Case Summary & 20 Largest Unsecured Creditors CORP GROUP: Mediation Not Appropriate in Saieh v Itau Dispute COURTESY SCREENING: Gets OK to Hire Lemon Law Group as Counsel DEL MONTE: Bankruptcy Leads to Widespread Peach Tree Removal DEMAR INSTALADORA: Seeks Chapter 15 Amid Pemex Payment Troubles DENVER SPRING: Hires Folkstead Fazekas as Special Counsel DEQSER LLC: Committee Hires RK Consultants as Financial Advisor DIAMOND ELITE: Seeks Chapter 11 Bankruptcy in New York DIOCESE OF NORWICH: Resolves Abuse Coverage Dispute with Travelers DR DELICACY: Gets Interim OK to Use Cash Collateral DRIFTWOOD YOGA: Unsecureds to Get 4 Cents on Dollar in Plan DUSTED77 FINE: Gets Interim OK to Use Cash Collateral ESTHER SCHOOL: Court Extends Cash Collateral Access to June 11 FARMERS COOPERATIVE: Final Cash Collateral Hearing Set for May 15 FARMERS COOPERATIVE: To Employ Mullin Hoard & Brown as Counsel FIRST BRANDS: Examiner Faces Funding Shortage as Fraud Probe Grows FIRST BRANDS: Unsecureds to Get Share of Litigation Trust Interests FLEXSHOPPER INC: Creditors to Get Proceeds From Liquidation GENESIS HEALTHCARE: Court Flips Ch. 11 Stay Blocking Insider Suit GEORGE REALTY: To Sell Bedford Property to Shane Holman GOODBEAR PROPERTY: Section 341(a) Meeting of Creditors on June 9 GREEN LEASING: Seeks Chapter 11 Bankruptcy in New York HANDLE PREFORMS: Unsecureds to Recover Between 60% to 100% in Plan HAPISGAH OF FLUSHING: Seeks Chapter 11 Bankruptcy in New York HEALING WITH CAARE: Case Summary & Five Unsecured Creditors HNO INTERNATIONAL: Signs $30-Mil. Equity Line With Lambda Ventures HO WAN KWOK: Affiliate to Sell Apartment Share to SN 18 LLC IMPAC MORTGAGE: Seeks to Hire Verita as Claims and Noticing Agent INSPIRED HEALTHCARE: Seeks to Extend Plan Exclusivity to Aug. 31 INTEGRATED PROTEINS: Case Summary & 20 Unsecured Creditors INTEGRATED PROTEINS: Taps David Payne of Marshall & Stevens as CRO INTERTRADE HOLDINGS: Seeks Chapter 11 Bankruptcy in Florida IQSTEL INC: Secures $50MM Equity Purchase Facility With M2B Funding ISLAND GASTROENTEROLOGY: Seeks to Extend Exclusivity to Sept. 11 ITREGULATORS INC: Seeks to Hire Schneider & Stone as Legal Counsel JAMAICA ESTATES: Sale Proceeds & Exit Financing to Fund Plan JAZZ APPAREL'S: Commences Chapter 11 Bankruptcy in New York JEFFERSON LA BREA: 9th Circuit Upholds Sec. 363 Bankruptcy Sale JP DESIGN: Seeks to Hire Lefkovitz & Lefkovitz as Legal Counsel KEENOVA THERAPEUTICS: S&P Affirms 'BB-' ICR, Outlook Stable KSK TRANSPORT: Unsecureds Will Get 26% of Claims in Plan KUBERA HOTEL: Court OKs Deal to Use Wilmington's Cash Collateral LAKE EFFECT INVESTMENTS: Seeks Subchapter V Bankruptcy in Florida LAKESHORE LEARNING: S&P Affirms 'B-' ICR, Outlook Negative LAKESHORE LEARNING: S&P Affirms 'B-' ICR, Outlook Negative LAUNDRY BAR: Cash Collateral Hearing Set for May 14 LIVEONE INC: Craig Christensen Named Interim CFO LUNAI BIOWORKS: Completes Acquisition of Neurobridge IP Holdings LYCRA COMPANY: Court Confirms Amended Plan of Reorganization MAKELELE SYSTEMS: Seeks to Tap Craig E. Dwyer as Bankruptcy Counsel MILNER SPORTS: Case Summary & 20 Largest Unsecured Creditors MIRROR LAKE: Seeks Approval to Hire Archer Halliday as Accountant MIRROR LAKE: Seeks to Tap Cushman & Wakefield Regional as Appraiser MIYOSHI AMERICA: Seeks to Tap Stretto as Claims and Noticing Agent MY VAPE: Gets Interim OK to Use Cash Collateral NBG MACHINE: Seeks Approval to Hire CWLS Certified as Accountant NETCAPITAL INC: Raises Working Capital via Three Promissory Notes NEXT GENERATION: Seeks Approval to Hire Hammond Law Firm as Counsel NRPF GROUP: Committee Hires Baker Donelson Bearman as Counsel OCOEE BOTANICALS: Seeks to Hire RMR Legal as Bankruptcy Counsel ONE DOORKNOB: Seeks Chapter 11 Bankruptcy in Pennsylvania PANADERIA RICA: Taps Homel Antonio Mercado Justiniano as Counsel PERFECT CHOICE: Seeks to Hire Lessne Hoffman as Bankruptcy Counsel PERNA OIL: Ottinger Hebert Represents Mineral Lessors PLUMBING NERDS: Seeks Subchapter V Bankruptcy in Florida PLUMBING NERDS: Voluntary Chapter 11 Case Summary PLURI INC: Chutzpah Holdings Holds 18.64% Equity Stake POWER STOP: S&P Alters Outlook to Stable, Affirms 'B-' ICR PREMIER KINGS: Buyer Not Liable Under Side Deal, Court Says PRO RACKING: Seeks to Hire Sanchez & Baltazar as Legal Counsel PROSTHODONTICS DENTAL: Hires Lozada Law & Associates as Counsel PWB LAND: Case Summary & Five Unsecured Creditors PWB LAND: Initiates Chapter 11 Bankruptcy in Texas Q-FREE TCS: Gets Interim OK to Use Cash Collateral QUEENS THEATER OWNER: Seeks Chapter 11 Bankruptcy in New York QVC GROUP: Brown Rudnick Represents Equity Holders QVC GROUP: Glenn Agre, Cleary & Kane Russell Advise Preferreds QVC GROUP: Simpson Thacher Advises JPMorgan & RCF Lenders R.W. SIDLEY: Employs Russ Kiko Associates as Auctioneer REGAL INVESTMENT: Taps Christie's International as Estate Broker REKOR SYSTEMS: Gets Nasdaq Minimum Bid Price Non-Compliance Notice RETO ECO-SOLUTIONS: FY2025 Net Loss Widens to $12.6 Million ROGERS HEALY: Employs Lindauer & Vaughn as Legal Counsel ROSE MECHANICAL: Commences Chapter 11 Bankruptcy in New York S & A INDUSTRIAL: Employs Bassi Vreeland & Associates as Counsel SAFE INNOVATION: To Employ BGV Law PLLC as Legal Counsel SAINT AUGUSTINE'S: Taps Waldren Wall Babcok & Bailey as Counsel SANDY HOOK INVESTMENTS: Seeks Subchapter V Bankruptcy in Florida SASAS HOSPITALITY: Claims to be Paid from $100K Carveout SENSEONICS HOLDINGS: Preliminary Q1 2026 Shows $11.7MM Revenue SENSEONICS HOLDINGS: Proposes $40MM Boost to Hercules Loan Capacity SHURAYA ENTERPRISES: Seeks Subchapter V Bankruptcy in New Jersey SKYBOUND PROPERTIES: Wilmington Property Sale to Gary London OK'd SLX - I DRIVE: Section 341(a) Meeting of Creditors on June 1 SMART COMMUNICATIONS: Hires Stearns Weaver as Special Counsel SMITH MICRO: Net Loss Drops to $3.9M in Q1, Going Concern Remains SOUTH FLORIDA BARBEQUE: SBA Wants Receiver for $238,874 Unpaid Debt SPARHAWK LLC: Trustee Hires Newpoint Advisors as Financial Advisor SPARHAWK LLC: Trustee Hires Swanson Sweet as Bankruptcy Counsel SUNATION ENERGY: Scott Maskin Holds 16.6% Equity Stake SUPERIOR METAL: Seeks to Extend Plan Exclusivity to Oct. 19 SWIFTSHIPS LLC: Committee Hires Kelly Hart Pitre as Legal Counsel TOASTED BARREL: Hires Keller Williams Realty as Real Estate Broker TRANQUILITY FARMS: To Employ Robert B. Easterling as Legal Counsel TRISTRUX LLC: Foreclosure Auction for Equity Interests TRIWAYS INC: To Hire Law Offices of Michael Jay Berger as Counsel US MAGNESIUM: Judge Allows Voting Process for Chapter 11 Plan VANDERBILT MINERALS: Court Clears $64MM Mine Sale, New DIP Loan VARADERO SEA: Seeks Approval to Hire GAK Tax Advisor as Accountant WEST MARINE: Considers Bankruptcy Amid Planned Store Closures WISER SOLUTIONS: Seeks to Hire Epiq as Claims and Noticing Agent WORKSPORT LTD: VP Finance Jennifer Kartychak Assumes CFO Role XANDRIA HOLDINGS: To Retain Onyx Hospitality as Property Manager YAJIKA RESTAURANTS: Seeks to Tap Modesto Bigas as General Counsel ZAHRCO ENTERPRISES: Taps Michael Moecker and Greenspoon as Witness ZD SAND: Gets Interim OK to Use Cash Collateral ZENNIHOME LLC: Seeks Ch. 7 Bankruptcy Prior to Receivership Hearing [] Apotheo Launches Complex Situations Financial Advisory Firm [] Bipartisan Lawmakers Target Texas Two-Step Bankruptcy Strategy [] Healthcare Bankruptcy Increased 33% in 1st Qtr. of 2026 [] Smith Gambrell Adds New Partners to Bankruptcy Practice in N.Y. [] Wall Street Prep, Wharton Launch Investing Certificate Program ********* 100 MCKNIGHT: Court Extends Cash Collateral Access to May 23 ------------------------------------------------------------ 100 McKnight, LLC received another extension from the U.S. Bankruptcy Court for the Northern District of Illinois to use cash collateral. The court issued a fourth order extending the Debtor's authority to use cash collateral through May 23 under existing terms. The Debtor's cash collateral includes cash in which A10 Commercial Mortgage Trust 2024-FLSN1 may assert an interest under a $15.65 million mortgage loan agreement entered into in June 2024. A10 is the sole entity claiming a lien on all proceeds, including rents, from The Park at Constitution Trail Centre, an 85-unit, 280-bed student housing property in Normal, Illinois, owned and managed by the Debtor. The next hearing is set for May 19. Sandra A. Franco-Aguilera, Esq. Vanessa Seiler, Esq. MAS Law LLC 2213 Lakeside Drive Bannockburn, IL 60015 Phone: (224) 706-6932 pleadings@maslawllc.com About 100 Mcknight LLC 100 Mcknight LLC is a single asset real estate company. It owns and manages The Park at Constitution Trail Centre, a student housing apartment community in Normal, Illinois. 100 Mcknight sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 25-19477) on December 22, 2025. In its petition, the Debtor listed between $10 million and $50 million in both assets and liabilities. Honorable Bankruptcy Judge Jacqueline P. Cox is handling the case. The Debtor is represented by Jeffrey K. Paulsen, Esq., at Paulsen & Holtschlag, LLC. 1214 STREET: Starts Chapter 7 Bankruptcy in New York ---------------------------------------------------- On May 4, 2026, 1214 Street LLC 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 million in debt owed to between 1 and 49 creditors. About 1214 Street LLC 1214 Street LLC is a real estate holding company engaged in property ownership, leasing, and management activities. The company manages real estate assets and related operational interests. 1214 Street LLC sought relief under Chapter 7 of the U.S. Bankruptcy Code (Bankr. Case No. 26-71768) on May 4, 2026. In its petition, the Debtor reports estimated assets between $100,001 and $1 million and estimated liabilities within the same range. Honorable Bankruptcy Judge Sheryl P. Giugliano handles the case. The Debtor’s legal representation was not listed in the filing summary provided. 1415 BENNETT: Voluntary Chapter 11 Case Summary ----------------------------------------------- Debtor: 1415 Bennett LLC 1415 Bennett Ave Dallas, TX 75206 Business Description: 1415 Bennett LLC is a single-asset real estate entity associated with 1415 Bennett, a multifamily residential property located in Dallas, Texas. The property provides studio apartment housing and resident services including modern appliances and concierge services. Chapter 11 Petition Date: May 4, 2026 Court: United States Bankruptcy Court Northern District of Texas Case No.: 26-31991 Debtor's Counsel: Matthew G. Messerli, Esq. THE MESSERLI LAW FIRM, PLLC 99 Trophy Club Drive Trophy Club, Texas 76262 Tel: (817) 601-5075 Email: mmesserli@themesserlilawfirm.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed on behalf of GVS Investments, LLC by Venkat Arumilli, its 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/FTVNZDQ/1415_Bennett_LLC__txnbke-26-31991__0001.0.pdf?mcid=tGE4TAMA 25 MY RENTCO: Seeks to Tap Braunstein Turkish as Litigation Counsel ------------------------------------------------------------------- 25 My RentCo LLC and Tribeca Mews Ltd. seek approval from the U.S. Bankruptcy Court for the Southern District of New York to employ Braunstein Turkish LLP as special litigation counsel. The firm will represent the Debtors in a lawsuit commenced by Tribeca Space Managers, Inc. against them regarding alleged construction defects at a condominium development located at 25 Murray Street, New York, New York. The firm's services include conducting expert depositions and reviewing and preparation of experts reports, and general trial preparation. The firm's counsel and staff will be paid at these hourly rates: William Turkish, Attorney $575 Junior Partners $500 Paralegals $175 In addition, the firm will seek reimbursement for expenses incurred. Mr. Turkish disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: William Turkish, Esq. Braunstein Turkish LLP 7600 Jericho Turnpike, Suite 402 Woodbury, NY 11797 About 25 My RentCo LLC 25 My RentCo LLC is a New York limited liability company that serves as a holding entity for the remaining sponsor-controlled condominium units at 25 Murray Street, New York City. The Company acquired fee ownership of the units from Tribeca Mews Ltd. in July 2011 and became the successor sponsor under the property's condominium offering plan. 25 My RentCo LLC sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Lead Case No. 25-12280) on October 16, 2025. In its petition, the Debtor reports total assets of $11,053,987 and total liabilities of $226,243. Honorable Bankruptcy Judge Martin Glenn handles the case. The Debtor is represented by Scott S. Markowitz, Esq. and Jacob Gabor, Esq., at Tarter Krinsky & Drogin LLP. 307 TROY AVE: Seeks to Tap Balisok & Kaufman as Bankruptcy Counsel ------------------------------------------------------------------ 307 Troy Ave LLC seeks approval from the U.S. Bankruptcy Court for the Eastern District of New York to employ Balisok & Kaufman PLLC as counsel. The firm's services include: (a) advise the Debtor with respect to its powers and duties and the continued management of its property and affairs; (b) negotiate with creditors of the Debtor and work out a plan of reorganization and take the necessary legal steps in order to effectuate such a plan; (c) prepare necessary legal papers required for the Debtor who seeks protection from its creditors under Chapter 11 of the Bankruptcy Code; (d) appear before the Bankruptcy Court to protect the interest of the Debtor and represent it in all matters pending before the Court; (e) attend meetings and negotiate with representatives of creditors and other parties in interest; (f) advise the Debtor in connection with any potential refinancing of secured debt and any potential sale of the business; (g) represent the Debtor in connection with obtaining post-petition financing; (h) take any necessary action to obtain approval of a disclosure statement and confirmation of a plan of reorganization; and (i) perform all other legal services for the Debtor which may be necessary for the preservation of its estate and to promote its best interests, its creditors and its estate. The firm will be paid at these hourly rates: Attorneys $500 - $650 Paraprofessionals $250 In addition, the firm will seek reimbursement for expenses incurred. Prior to the Chapter 11 filing, the firm received a retainer from the Debtor's principal in the amount of $10,000. Joseph Balisok, Esq., an attorney at Balisok & Kaufman, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Joseph Y. Balisok, Esq. Balisok & Kaufman, PLLC 251 Troy Avenue Brooklyn, NY 11213 Telephone: (718) 928-9607 Facsimile: (718) 534-9747 Email: joseph@lawbalisok.com About 307 Troy Ave LLC 307 Troy Ave LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.Y. Case No. 25-44236) on Sept. 4, 2025, listing under $1 million in both assets and liabilities. Judge Elizabeth S. Stong oversees the case. Joseph Y. Balisok, Esq., at Balisok & Kaufman, PLLC serves as the Debtor's counsel. 3103 TEN: Claims to be Paid from Property Sale Proceeds ------------------------------------------------------- 3103 Ten, LLC and Morris St. Development, LLC, filed with the U.S. Bankruptcy Court for the District of Columbia a Subchapter V Plan of Reorganization dated April 28, 2026. The Debtors are affiliated limited liability companies under common ownership and control. These jointly administered cases involve two parcels of real property: the historic Robert Morris Inn, located at 314 North Morris Street in Oxford, Maryland (the "Oxford Property"), and the residential real property located at 3103 Tennyson Street NW in Washington DC (the "Tennyson Property"). Morris Street Development, LLC owns the Oxford Property, also known as the Robert Morris Inn or River View House. Situated along the Tred Avon River, the Oxford Property is a historic waterfront hospitality destination that has long served as an inn, restaurant, and event venue. Morris Street acquired the property in or about 2023 with the goal of preserving, enhancing, and continuing its hospitality operations. The property was subsequently marketed for sale beginning in June 2025. By the fall of 2025, however, operations had ceased, the property was closed to the public, and it was no longer generating revenue. 3103 Ten, LLC owns the Tennyson Property. The property was acquired as investment real estate, but it is not presently income-producing. More recently, the Tennyson Property sustained roof damage after a tree fell onto the structure, and 3103 submitted an insurance claim relating to that casualty. At the same time, real property tax obligations accrued against the property. As a result, 3103 Ten likewise entered chapter 11 with a non-income-producing asset requiring repair, stabilization, and an orderly process for realization of value. The purpose of these cases is to preserve and maximize value through an orderly sale process, to address the Debtors' secured debt, tax obligations, and other claims in a centralized forum, and to avoid the diminution in value that would likely result from piecemeal enforcement activity outside of bankruptcy. Accordingly, this Plan contemplates the marketing and sale of both the Oxford Property and the Tennyson Property, with the net sale proceeds to be applied and distributed in accordance with the terms of this Plan. Pending sale, the Debtors may take such actions as are reasonably necessary to preserve, protect, and stabilize the properties and maximize their value. Feasibility is established here, as the Plan is structured around the orderly sale of the Oxford Property and the Tennyson Property. Plan payments will be funded directly from the net sale proceeds from these assets, rather than depending on continued operations or uncertain future income. Class 2 consists of all general unsecured claims against the Debtors, including, without limitation, the claim of Francesca Engler in the amount of $500,000.00, the claim of Red Coconut in the amount of $200,000.00, and the claims of Brian and Howard Snyder in the aggregate amount of $824,775.03. Holders of allowed Class 2 claims shall receive pro rata distributions from the net sale proceeds remaining after payment of allowed costs of sale, payment of Class 1, and payment of allowed administrative and priority claims. Class 2 shall share pro rata in such remaining proceeds until Class 2 claims are paid in full or sale proceeds are exhausted. This Class is impaired. The holder of equity interests in the Debtors shall retain his respective membership interests in 3103 and Morris Street. This Plan shall be implemented through the continued repair, stabilization, marketing, and sale of the Oxford Property and the Tennyson Property. The Debtors shall be authorized to take all actions reasonably necessary to consummate this Plan, including retaining brokers, contractors, engineers, consultants, and other professionals; obtaining estimates and proposals; entering into listing agreements and purchase agreements; pursuing and applying available insurance proceeds; executing deeds, assignments, releases, settlement statements, and other documents necessary to close the contemplated sales; and taking such other actions as are reasonably necessary to preserve, protect, market, and sell the properties and to carry out the terms of this Plan. A full-text copy of the Subchapter V Plan dated April 28, 2026 is available at https://urlcurt.com/u?l=QnFnXr from PacerMonitor.com at no charge. Counsel for the Debtor: Maurice B. VerStandig, Esq. Christianna A. Cathcart, Esq. THE BELMONT FIRM 1050 Connecticut Avenue, NW, Suite 500 Washington, DC 20036 Telephone: (202) 991-1101 (202) 655-2066 E-mail: mac@dcbankruptcy.com christianna@dcbankruptcy.com About 3103 Ten, LLC 3103 Ten, LLC is a single-purpose real estate holding company that owns and manages real property at 3103 Tennyson Street NW in Washington, DC, and does not operate an active business or employ staff. The Company retains statutory rights related to the property, including redemption rights, which it continues to evaluate. 3103 Ten, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-00038) on January 28, 2026. In its petition, the Debtor reports estimated assets between $1 million and $10 million and estimated liabilities ranging from $1 million to $10 million. Honorable Bankruptcy Judge Elizabeth L. Gunn handles the case. The Debtor is represented by Christianna Annette Cathcart, Esq. of The Belmont Firm. 407 SMILEY: Claims to be Paid from Available Cash & Rental Income ----------------------------------------------------------------- 407 Smiley Crossing LLC, filed with the U.S. Bankruptcy Court for the District of Massachusetts a Disclosure Statement describing Plan of Reorganization dated April 30, 2026. The Debtor is a Massachusetts limited liability company with two members, an individual, David Pogorelc, an active real estate investor and developer in the Boston area who holds a 20% membership interest in the Debtor and a limited liability company, AM Project 407 Washington LLC which holds the other 80% of the membership interests in the Debtor. The property at 407-411 Washington Street, Downtown Crossing, Boston was acquired in 2012 by the Debtor. It had been leased to Strawberry Records and was in a bad physical shape. The GAP signed a lease with the Debtor in 2014 and opened in April 2015. The original lease was for 10 years with two 5-year extensions. The value of the Debtor's Real Property is a crucial issue in its Chapter 11 case. There have been four professional appraisals of the Debtor's Property starting in 2022. In 2022, Newburyport Bank commissioned a professional appraisal which valued the Property at $22,300, 000. In 2025, Newburyport Bank commissioned a professional appraisal which valued the Debtor's Property at $14,400,000. In 2026, Newburyport Bank commissioned a professional appraisal of the Debtor's Property which valued Property at $13,300,000. Also in 2026, the Debtor commissioned a professional appraisal which valued its Property at $15,700,000. There is presently scheduled before the Bankruptcy Court an evidentiary hearing on May 7, 2026 at which time Newburyport Bank and the Debtor will present evidence regarding the value of the Debtor's real property. Thereafter, the Bankruptcy Judge will make a determination of value and that determination will have a significant impact on the Debtor's Chapter 11 case and the confirmation of its Plan of Reorganization. The Plan is for the Debtor to reorganize and pay all Allowed Claims, cancel its pre-petition equity interests and issue new equity to New Members who will agree to financially support the Plan as necessary. The Plan will be funded with available Cash, future rental income and, as necessary, back up funding by New Members. The Plan proposes to pay the Allowed Claim of Newburyport Bank with interest only payments for 36 months at the rate of 5% per annum with a balloon payment of the entire balance due Newburyport Bank at the end of that 36 month period and to pay tax municipality secured claims in full, with interest, on the Effective Date and to pay the claims of general unsecured creditors in full, but without interest, late fees, additional charges of any kind, upon the later of the Effective Date or when the Claim is Allowed. Class 3 consists of General Unsecured Claims. In full and complete satisfaction, settlement, release and discharge of the Class 3 Claims, each holder of the Class 3 Claim shall receive the amount of such holder's Allowed Claim in Cash payment on the later of: (i) the Effective Date, and (ii) as soon as practicable after the General Unsecured Claim is Allowed; but without interest, late fees or additional charges of any kind. The holders of Class 4 Interests will have such Interests in the Debtor cancelled. The Plan will be funded by use of the Debtor's Cash on hand on the Effective Date plus, for payments to be made thereafter (to Newburyport Bank) from the Debtor's rental income after the Effective Date plus supplemental contributions from New Members as needed to fund interest payments to Newburyport Bank. The Debtor and, after the Effective Date, the Reorganized Debtor will exclusively retain and may enforce, and the Debtor expressly reserves and preserves for these purposes, in accordance with section 1123(a)(5)(A) of the Bankruptcy Code, any Claims, demands, rights and Causes of Action or Avoidance Actions that the Debtor or its estate may hold against any Person or Entity. No preclusion doctrine, including, without limitation, the doctrines of res judicata, collateral estoppel, issue preclusion, claim preclusion, estoppel (judicial, equitable or otherwise) or laches shall apply to such claims by virtue of or in connection with the confirmation, consummation of effectiveness of the Plan. A full-text copy of the Disclosure Statement dated April 30, 2026 is available at https://urlcurt.com/u?l=KNCzFW from PacerMonitor.com at no charge. 407 Smiley Crossing LLC is represented by: Stephen F. Gordon, Esq. The Gordon Law Firm LLP 57 River Street, Suite 200 Wellesley MA 02481 Tel: (617) 456-1270 E-mail: sgordon@gordinfirm.com About 407 Smiley Crossing LLC 407 Smiley Crossing LLC is a single asset real estate company. 407 Smiley Crossing LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Mass. Case No. 25-12486) on Nov. 17, 2025. In its petition, the Debtor estimated assets and liabilities between $10 million and $50 million each. Bankruptcy Judge Janet E. Bostwick handles the case. The Debtor is represented by Stephen F. Gordon, Esq. of The Gordon Law Firm LLP. 590-600 REALTY: Commences Chapter 11 Bankruptcy in New York ----------------------------------------------------------- On May 5, 2026, 590-600 Realty Corp. 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 $10 million and $50 million in debt owed to between 1 and 49 creditors. A meeting of creditors filed by the Office of the United States Trustee under Section 341(a) to be held on June 8, 2026 at 01:15 PM at USA Toll-Free (888) 330-1716, USA Caller Paid/International Toll (713) 353-7024, Access Code 8185618. About 590-600 Realty Corp. 590-600 Realty Corp. is a real estate company engaged in property ownership, leasing, and management activities. The company oversees commercial and investment real estate assets as part of its operational portfolio. 590-600 Realty Corp. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-42201) on May 5, 2026. In its petition, the Debtor reports estimated assets between $10 million and $50 million and estimated liabilities within the same range. Honorable Bankruptcy Judge Elizabeth S. Stong handles the case. The Debtor is represented by J. Ted Donovan, Esq. of Goldberg Weprin Finkel Goldstein LLP. 6363 WEST 73RD: Seeks to Tap Schneider & Stone as Legal Counsel --------------------------------------------------------------- 6363 West 73rd Street, LLC seeks approval from the U.S. Bankruptcy Court for the Northern District of Illinois to employ Schneider & Stone to handle Chapter 11 case. The firm's counsel and staff will be paid at these hourly rates: Attorneys $500 Paralegals $175 The firm received an initial advanced fee retainer of $16,750 from Viktor Kotsyulym. Ben Schneider, Esq., and Matthew Stone, Esq. attorneys at Schneider & Stone, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Ben Schneider, Esq. Matthew Stone, Esq. Schneider & Stone 8524 Skokie Blvd., Suite 200 Telephone: (847) 933-0300 Email: ben@windycitylawgroup.com mstone@windycitylawgroup.com About 6363 West 73rd Street LLC 6363 West 73rd Street, LLC is an Illinois limited liability company. 6363 West 73rd Street, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 26-02031) on February 3, 2026. In its petition, the Debtor reports estimated assets between $1 million and $10 million and estimated liabilities between $1 million and $10 million. Honorable Bankruptcy Judge Timothy A. Barnes handles the case. The Debtor is represented by Ben L. Schneider, Esq., and Matthew Stone, Esq., at Schneider & Stone. 769 EAST: Commences Chapter 11 Bankruptcy in New York ----------------------------------------------------- On May 6, 2026, 769 East 19th Corporation filed for Chapter 11 bankruptcy 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 million in debt owed to between 1 and 49 creditors. A meeting of creditors filed by the Office of the United States Trustee under 341(a) meeting to be held on June 8, 2026 at 02:00 PM at USA Toll-Free (888) 330-1716, USA Caller Paid/International Toll (713) 353-7024, Access Code 6980165. About 769 East 19th Corporation 769 East 19th Corporation is a privately held company believed to be involved in real estate ownership, property management or investment activities in New York. 769 East 19th Corporation sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-42221) on May 6, 2026. In its petition, the debtor reported estimated assets between $100,001 and $1 million and estimated liabilities between $100,001 and $1 million. Honorable Bankruptcy Judge Elizabeth S. Stong handles the case. 7TH STATE BUILDERS: Unsecureds Will Get 11.7% over 3 Years ---------------------------------------------------------- 7th State Builders, LLC, filed with the U.S. Bankruptcy Court for the District of Maryland a Plan of Reorganization dated April 29, 2026. The Debtor was organized and has operated since November 2018. The Debtor's annual gross revenues have been historically as high as $9,000,000.00. The Debtor, in an attempt to satisfy its cash flow shortfalls and to remain operational, borrowed money from several merchant cash advance lenders ("MCA Lenders") at very high interest rates and costs. The Debtor's business involves home improvement and construction work. Until recently, the Debtor performed work for clients both inside and outside of homes. The Debtor has chosen to focus future work primarily on projects outside of homes, including building decks and other such projects. This focus on one line of work will allow the Debtor to maximize efficiency and control costs. During the weeks preceding the Debtor's bankruptcy filing, there were unusually severe weather conditions that significantly limited the Debtor's ability to perform construction projects and generate revenue. As a result of the foregoing, the Debtor remained obligated to make frequent and substantial payments to MCA Lenders, often through automatic deductions, which further strained cash flow. The cash flow issues were exacerbated by repayment demands of the remaining MCA Lenders. Without sufficient cash flow, the Debtor would be unable to pay its contractors, employees, suppliers, and vendors, which would necessarily result in the termination of its business operations. To avoid "shutting its doors," the Debtor filed this case. The Debtor must also show that it will have enough cash over the life of the Plan to make the required Plan payments and operate the Debtor's business. The Debtor has provided total projected disposable income information. The projections reflect projected net disposable income of approximately $360,000.00 over the three-year term of the Plan, which amount represents the Debtor's projected net income less reasonably necessary operating expenses and will be committed to fund Plan payments. The Debtor proposes to make quarterly Plan payments over a period of twelve quarters following the Effective Date (the "Plan Term"). The projected disposable income equates to estimated average quarterly Plan payments of approximately $30,000.00, however, due to the seasonal nature of the Debtor's construction business and fluctuations in revenue caused primarily by weather conditions, actual quarterly payments will vary from quarter to quarter. Class 4 consists of all General Unsecured Claims, including the Claims of Merchant Cash Advance Claimants and the undersecured portion of the Claim of E Advance Services, LLC. Provided that an Allowed Class 4 Claim has not been paid prior to the Effective Date, and except to the extent that a holder of a Class 4 Claim agrees to a different treatment, each holder of an Allowed Class 4 Claim shall receive, in full and complete settlement, satisfaction, and discharge of such Claim, a pro rata share of all funds allocated to Class 4 under the Plan, including projected disposable income and any Quarterly Avoidance Action Proceeds. The Debtor shall commit all projected disposable income to the payment of Claims under the Plan for a period of three years following the Effective Date, with such projected disposable income to be applied first to Administrative Expense Claims and Priority Claims, and thereafter to holders of Allowed Secured Claims in Classes 2 and 3 until such Claims are paid in full. Payments to holders of Allowed Class 4 Claims shall commence only after payment in full of Administrative Expense Claims and Priority Claims and after payment in full of Allowed Secured Claims in Classes 2 and 3, and shall thereafter be made on a quarterly basis on a pro rata basis in accordance with funds available for distribution in each quarter as set forth in the Debtor's financial projections. The total minimum amount to be distributed to holders of Allowed Class 4 Claims is estimated to be $111,000.00, representing an approximate 11.7% distribution based on currently estimated Allowed General Unsecured Claims. Distributions to holders of Allowed Class 4 Claims shall be made in accordance with Exhibit B and the payment scheme set forth in this Plan. Any Quarterly Avoidance Action Proceeds (none currently known) shall be distributed to holders of Allowed Class 4 Claims in accordance with the priorities established under the Bankruptcy Code and the payment scheme set forth in this Plan. Class 5 consists of the equity interests in the Debtor. The holder of the equity interest in the Debtor, Ashley Gallagher, shall retain her 100% equity interest in the Debtor. Holders of equity interests in the Debtor are unimpaired and are not entitled to vote on the Plan. All property of the Estate shall revest in the Debtor on the Effective Date, free and clear of all other liens, Claims, interests and encumbrances, except for the liens specifically preserved or created by this Plan. A full-text copy of the Plan of Reorganization dated April 29, 2026 is available at https://urlcurt.com/u?l=RrFABJ from PacerMonitor.com at no charge. Counsel to the Debtor: Janet M. Nesse, Esq. Kevin R. Feig, Esq. MCNAMEE HOSEA, P.A. 6404 Ivy Lane, Suite 820 Greenbelt, MD 20770 Telephone: (301) 441-2420 Facsimile: (301) 982-9450 Email: jnesse@mhlayers.com About 7th State Builders LLC 7th State Builders, LLC, is a Maryland-based home improvement and construction company. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Md. Case No. 26-10938) on January 29, 2026. In the petition signed by Ashley Gallagher, member and owner, the Debtor disclosed up to $50,000 in assets and up to $1 million in liabilities. Judge Lori S. Simpson oversees the case. Janet M. Nesse, Esq., at McNamee Hosea, P.A., represents the Debtor as legal counsel. ACCUPRO GROUP: Commences Chapter 11 Bankruptcy in New York ---------------------------------------------------------- On May 6, 2026, Accupro Group LLC filed for Chapter 11 bankruptcy 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 million in debt owed to between 1 and 49 creditors. A meeting of creditors filed by the United States Trustee under Section 341(a) to be held on June 8, 2026 at 10:00 AM at USA Toll-Free (888) 330-1716, USA Caller Paid/International Toll (713) 353-7024, Access Code 7219992. About Accupro Group LLC Accupro Group LLC is a privately held company believed to operate in the staffing, consulting or professional services sector. Accupro Group LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-71812) on May 6, 2026. In its petition, the debtor reported estimated assets between $100,001 and $1 million and estimated liabilities between $100,001 and $1 million. Honorable Bankruptcy Judge Sheryl P. Giugliano handles the case. AESTUARY INC: Silverview Wants Receiver for $27 Million Loan ------------------------------------------------------------ Silverview Credit Partners LP, f/k/a Silverpeak Credit Partners LP, filed a motion with the U.S. District Court for the Southern District of New York, seeking the appointment of Compass Advisory Partners, LLC as receiver for Aestuary Inc., Steelhead Acquisition Inc., MOG1 LLC, Tenkara LLC, Teneo Uplift Active LLC, Steelhead Acquisition AA, Inc., Steelhead Acquisition BB, Inc., Steelhead Acquisition CC, Inc., Steelhead Acquisition DD, Inc., and Steelhead Acquisition EE, Inc. Plaintiff made a loan to Defendants in 2022 that is secured by all of the assets of Defendants. The loan has been in default since 2024 due to Defendants' failure to make the required loan payments. The current loan balance approximates $27 million. Under the loan agreement, the existence of a default entitles Plaintiff to the appointment of a receiver over Defendants' assets and business operations. Plaintiff now seeks to exercise its contractual right to the appointment of a receiver for the purpose of conducting a marketing and sale process of Defendants' assets as a going concern and to enable Defendants' financial affairs to be wound up in an efficient and orderly fashion, with appropriate Court supervision. Pursuant to the Loan Agreement dated as of March 31, 2022, Plaintiff provided Aestuary, MOG1, Steelhead, and Tenkara: (i) a revolving loan in the maximum revolving facility amount of $1,000,000.00; and (ii) a term loan comprised of two tranches with an aggregate original principal amount totaling over $25,000,000.00. The Existing Borrowers and Plaintiff entered into the Pledge and Security Agreement dated March 31, 2022. In Article II of the Security Agreement, to secure the prompt and complete payment and performance of the Obligations, Existing Borrowers assigned and granted Plaintiff a continuing security interest in all property of Existing Borrowers. Plaintiff perfected its security interests by filing Uniform Commercial Code (UCC) financing statements with the Delaware Secretary of State. Existing Borrowers and Plaintiff entered into the Blocked Account Control Agreement dated as of April 20, 2022, governing account numbers ending: (i) 5805 of Aestuary, (ii) 0612 of Steelhead, (iii) 1337 of MOG1, and (iv) 9736 of Tenkara at JPMorgan Chase Bank, N.A to reflect the Existing Borrowers' grant of a security interest in and lien upon Existing Borrowers' collection accounts and the proceeds thereof. Silverview and the Borrowers subsequently entered into separate Omnibus Joinder Agreement, pursuant to which a Borrower acknowledged and agreed: (i) to be bound as a Borrower by the terms and conditions of the Loan Agreement and the other Loan Documents with the same force and effect as if it were a signatory to the Loan Agreement and the other Loan Documents, (ii) to assume all rights and interests and perform all applicable duties and obligations under the Loan Agreement and the other Loan Documents, (iii) that it is a direct obligor under the Loan Agreement and (iv) that it shall be jointly and severally liable with the other Borrowers for all liabilities and obligations regardless of when they first arose under the Loan Agreement and the other Loan Documents as if it were an original party thereto. Aestuary and various investors, including affiliates of Plaintiff, entered into the Series A Preferred Stock Purchase Agreement dated as of Aug. 1, 2025, pursuant to which Aestuary sold to the investors an aggregate of 69,759,329 shares of Series A preferred stock of Aestuary and 4,094,032 shares of common stock of Aestuary. The Loan went into default when Defendants failed to: (i) make required amortization payments as required by Section 1.2(a)(i)(A) of the Loan Agreement during Prepayment Periods of January and July of 2024 and the Prepayment Periods of January and July of 2025; (ii) make required interest payments for the Interest Payment Dates from April 15, 2024, to present, (iii) provide financial statements required by Section 5.6 of the Loan Agreement for all periods since January 31, 2025, and (iv) comply with Section 5.9 of the Loan Agreement for the periods ending September 30, 2024, and December 31, 2024. As a result, on April 5, 2024, Plaintiff sent a Reservation of Rights to Defendants. Additionally, on Oct. 2, 2025, Plaintiff sent a Notice of Default and Reservation of Rights to Defendants. Defendants failed to cure all of these Events of Default. As of April 17, 2026, at least $27,296,259.91 is due and outstanding under the Loan Agreement, comprised of $21,337,750.40 in principal, $5,926,997.10 in interest, $25,000.00 in loan fees, and $6,512.41 in expenses. Silverview contends that, pursuant to the Loan Agreement, Defendants agreed to the appointment of a receiver upon the occurrence of an Event of Default under the Loan Agreement. Upon or after the occurrence of an Event of Default, the Agent may, in its discretion, without notice to or demand upon any Obligor, petition for and obtain the appointment of a receiver, without notice of any kind whatsoever, to take possession of any or all of the Collateral and business of the Borrowers and to exercise such rights and powers as the court appointing such receiver shall confer upon such receiver. Defendants' liabilities exceed the orderly liquidation value of their assets. Defendants are no longer able to generate sufficient cash flow to fund their operating expenses, while also servicing their Loans and other obligations under the Loan Agreement. The authority for a federal court to initiate a federal court receivership is derived from Rule 66 of the Federal Rules of Civil Procedure. Under federal law, the practice in administering an estate by a receiver must accord with the historical practice in federal courts or with a local rule. Plaintiff requests that Compass Advisory Partners, LLC, be appointed as the receiver over Defendants and their assets. Plaintiff is in the process of reaching out to Defendants regarding their consent and is hopeful that the parties will reach a consensual proposed form of receivership order. Plaintiff is committed to funding the receivership estate and negotiating an appropriate budget with the receiver. Plaintiff further requests that the Court issue a stay, preventing all other persons and entities from commencing or continuing any civil action or proceeding against, or taking any action to establish or enforce any claim, right, or interest for, against, on behalf of, in, or in the name of, Defendants. Such provisions are common in receivership appointment orders. The Court should exercise its broad equitable powers to grant similar relief here. A stay would prevent duplicative litigation by creditors to collect on their claims. A receiver, protected by an injunction, would be able to maintain the status quo and ensure that Defendants' business continues to operate while paying the Obligations. The need for the stay is demonstrated by a case against Defendants Steelhead EE and Aestuary pending in the Superior Court of New Castle County in Delaware, where an entity known as Jiggy Puzzles, Inc. filed a complaint against Defendants alleging breach of contract and breach of the implied duty of good faith and fair dealing. Even if the plaintiff were to prevail, any judgment would be subordinate to the secured obligations owed to Plaintiff. As such, the suit is unnecessarily wasting the resources of Defendants' businesses and causing a major distraction. An initial conference is set for June 16 at 3:00 p.m. in Courtroom 1106, Thurgood Marshall Courthouse, 40 Foley Square, New York, NY 10007 before Judge Lorna G. Schofield. About Aestuary Aestuary develops an e-commerce business platform that identifies, acquires, and scales direct-to-consumer e-commerce brands. Aestuary Inc., MOG1 LLC, Steelhead Acquisition Inc., and Tenkara LLC are facing a receivership case captioned as Silverview Credit Partners LP, f/k/a Silverpeak Credit Partners LP v. Aestuary Inc., Steelhead Acquisition Inc., MOG1 LLC, Tenkara LLC, Teneo Uplift Active LLC, Steelhead Acquisition AA, Inc., Steelhead Acquisition BB, Inc., Steelhead Acquisition CC, Inc., Steelhead Acquisition DD, Inc., and Steelhead Acquisition EE, Inc., Case No. 1:26-cv-03469 (S.D.N.Y.), before the Hon. Lorna G. Schofield. The case was filed on April 27, 2026. Counsel for Plaintiff: Michael D. Silberfarb, Esq. BLANK ROME LLP 1271 Avenue of the Americas New York, NY 10020 Tel: (212) 885-5000 E-mail: michael.silberfarb@blankrome.com - and - John E. Lucian, Esq. BLANK ROME LLP One Logan Square, 130 North 18th Street Philadelphia, PA 19103 Tel: (215) 569-5500 Fax: (215) 569-5555 E-mail: john.lucian@blankrome.com AGUA VIVA: Unsecured Creditors Will Get 100% of Claims in Plan -------------------------------------------------------------- Agua Viva Ranch, LLC and Texas Star Land Works, LLC filed with the U.S. Bankruptcy Court for the Western District of Texas a Third Amended Plan of Reorganization under Subchapter V dated April 29, 2026. Agua Viva was formed in 2019, and Texas Star was formed in 2020. Agua Viva and Texas Star began as a ranch development operation that cleared lands and built roads for rural properties in Central Texas. The Debtors quickly identified the need for water feature rehabilitation, specializing in the development and construction of rural water features such as ponds and lakes. The Debtors eventually expanded their services across Texas and continue to provide landowners with the opportunity to improve their ranches. Agua Viva serves as a holding company for Texas Star with respect to certain assets and contracts, with all operations occurring under Texas Star. Each of the Debtors is currently owned 50% by Jeremy Curry and 50% by Andrea Curry. Jeremy Curry will remain managing member of the Reorganized Debtors. There will be no change in the ownership of the business. When the Debtors established themselves within the ranch community providing their niche services, they experienced incredible growth. This led them to expand their services by purchasing many pieces of equipment and hiring laborers to keep up with the demand. In late 2023, a disagreement with a client led to a lawsuit for breach of contract, and a relatively large judgment was entered against them. The Debtors' Plan of Reorganization provides for the continued operations of the Debtors to make payments to their creditors as set forth in this Plan. Debtors propose to pay allowed unsecured claims based on the liquidation analysis and cash available. Debtors anticipate having enough business and cash available to fund the Plan and pay the creditors pursuant to the proposed Plan. It is anticipated that after confirmation, the Debtors will continue in business. Based on the plan projections, the Debtors' total projected disposable income, as that term is defined by section 1191(d), to be committed to the payment of claims for the period described in section 1191(c)(2) for sixty months is $1,428,622.00. This Plan of Reorganization under chapter 11 of the Bankruptcy Code proposes to pay creditors of the Debtors from income generated from continued operations of the Debtors. Treatment of Creditors' claims is determined by which class such claim belongs to. Claims have been classified below in accordance with section 1122 of the Code. Class 2 consists of General Unsecured Claims. Unsecured creditors shall receive 100% of their unsecured claims as a pro rata distribution at zero percent interest per annum. These payments shall begin on the 15th day of the calendar month following the Effective Date of the Plan and continuing on the 15th day of each month thereafter. The payments shall be made from the unsecured creditors pool of $580,306.34 that is being distributed to unsecured creditors over the life of the Plan. Any unsecured deficiency claim that is filed (including as an amended claim) following the filing of this Plan and as contemplated herein, shall, subject to the Debtors' rights to object thereto, and subject to allowance by the Bankruptcy Court in the event that any such objection is asserted, will be treated as a Class 2 claim and reduce the pro rata percentages available to all claims administered in Class 2. This Class is impaired. The Reorganized Debtors will continue operating their business to generate funds to fund plan payments. The Plan classifies existing claims into two classes of Claimants. These claimants will receive repayments over a period of time beginning on or after the Effective Date as provided in this Plan. A full-text copy of the Third Amended Plan dated April 29, 2026 is available at https://urlcurt.com/u?l=jomuLo from PacerMonitor.com at no charge. Counsel to the Debtors: Jay H. Ong, Esq. Beverly A. Bass, Esq. MUNSCH HARDT KOPF & HARR, P.C. 1717 West 6th Street, Suite 250 Austin, TX 78703 Tel: (512) 391-6100 Fax: (512) 391-6149 Email: jong@munsch.com bbass@munsch.com About Agua Viva Ranch LLC Agua Viva Ranch LLC is a holding company based in Bertram, Texas. It owns and manages heavy equipment and vehicles used in land development and specialty trade activities. The Company also engages in recreational ranch operations, including guided hunts and lodging services. Agua Viva Ranch LLC sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Tex. Case No. 25-10927) on June 19, 2025. In its petition, the Debtor reports total assets of $1,535,699 and total debts of $1,861,515. Honorable Bankruptcy Judge Shad Robinson handles the case. The Debtors are represented byRobert C. Lane, Esq. at THE LANE LAW FIRM. ALLITCON INC: Unsecureds to Get 12 Cents on Dollar in Plan ---------------------------------------------------------- Allitcon, Inc., submitted an Amended Plan of Reorganization for Small Business dated April 29, 2026. The Debtor's financial projections show that the Debtor will have projected disposable income of $194,508. The final Plan payment is expected to be paid on May 2029, which is anticipated to be 36 months after the effective date. This Plan of Reorganization proposes to pay creditors of the Debtor from cash flow from operations. Non-priority unsecured creditors holding allowed claims will receive distributions, which the proponent of this Plan has valued at approximately 12 cents on the dollar consistent with the liquidation analysis in Exhibit A and projected disposable income in Exhibit B. This Plan also provides for the payment of administrative claims. Class1 consists of non-priority unsecured creditors. General unsecured creditors shall receive a pro-rata distribution of an amount equal to $150,000 payable in 36 equal monthly installments. Payments shall commence on the 1st day of the month after the Effective Date and continue for 36 months. This Class is impaired. Class 2 consists of equity security holders of the Debtor. Nate Habash, the sole shareholder, shall retain his equity interest in the Debtor. The plan will be implemented from the continued operations of Debtor's three restaurant locations in Campbell, Menlo Park and Redwood City, CA. A full-text copy of the Amended Plan dated April 29, 2026 is available at https://urlcurt.com/u?l=TDwFh6 from PacerMonitor.com at no charge. Counsel to the Debtor: Lars T. Fuller, Esq. The Fuller Law Firm, P.C. 60 N. Keeble Ave. San Jose, CA 95126 Telephone: (408) 295-5595 Facsimile: (408) 295-9852 About Allitcon Inc. Allitcon, Inc., has been in the business of operating breakfast restaurants. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Cal. Case No. 25-51967) on Dec. 22, 2025, with $100,001 to $500,000 in assets and $500,001 to $1 million in liabilities. Judge Hannah L. Blumenstiel presides over the case. Lars T. Fuller, at the The Fuller Law Firm, is the Debtor's legal counsel. ANTONIO MUNOZ: Seeks to Hire Noteware Law Firm as Special Counsel ----------------------------------------------------------------- Antonio Munoz Aserradero, LLC seeks approval from the U.S. Bankruptcy Court for the Eastern District of Texas to employ Noteware Law Firm, PC as special counsel. The firm will render these services: (a) provide advice to the Debtor; (b) prepare and file the petition, schedules, and statement of financial affairs; (c) prepare and file of disclosure statement and plan of reorganization; (d) negotiate with creditors; (e) review of executory contracts; (f) review of claims, the response to; and (g) appear at hearings on contested matters, and for any further matters which may arise. Daniel Noteware, Jr., Esq., the primary attorney in this representation, will be billed at his hourly rate of $350. Mr. Noteware disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Daniel A. Noteware, Jr., Esq. Noteware Law Firm, PC 100 E. Ferguson St., Suite 1206 Tyler, TX 75702 Telephone: (903) 747-8245 Facsimile: (903) 730-5151 Email: dan@notewarelaw.com About Antonio Munoz Aserradero Antonio Munoz Aserradero, LLC, is a Texas-based company engaged in sawmills and wood preservation activities. Antonio Munoz Aserradero sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Tex. Case No. 25-60480) on Aug. 7, 2025. In its petition, the Debtor estimated assets between $50,000 and $100,000 and estimated liabilities between $1 million and $10 million. The Debtor is represented by Michael E. Gazette, Esq., at the Law Offices of Michael E. Gazette. APOGEE BREWING: Amends Several Secured Claims Pay Details --------------------------------------------------------- Apogee Brewing, a Texas Limited Liability Company d/b/a True Anomaly, submitted a First Amended Combined Plan of Liquidation and Disclosure Statement dated April 29, 2026. The Property is the sole location where the Debtor brews, sells, packages, and distributes its product. The Property based on the report is estimated to be worth $4,250,000.00 upon completion of the improvements. On January 30, 2026, Debtor met with Stellar and came to an agreement in principle to lift the automatic stay, absolve the Guarantors of their personal guarantees, and more. Further it was agreed upon that Stellar would prepare an agreed motion and order for the relief of the automatic stay, and for it to include the agreed upon terms between Stellar and Debtor. Debtor filed it Plan and Disclosure Statement on February 23, 2026, due to Stellar's actions. On April 15, 2026, the Court held a hearing and requested the Debtor amend its Plan and Disclosure Statement to include the names of buyers and terms of sales; update the Plan to a plan of liquidation; describe the assets being sold, surrendered, and their location; file a 363 motion with the court to sell the assets and incorporate the same into the Plan; and provide financial projections of the outcomes of the assets sold. Since filing the bankruptcy case, the Debtor has operated, managed, and maintained its real and personal property. The real property is properly insured for hazard and flood risks. The real property is occupied and secured from trespassers. The Debtor's sole sources of funds have been the operation of the tap room at Leased Space and sale of its product through distribution channels. Tap room revenue since August 4, 2025, has averaged $31,607.27 per month, and distribution revenue has averaged $11,600.10 per month. The Debtor has been operating in a cash flow positive manner since the filing of its bankruptcy petition. However, the monthly revenue has moved towards a decline because Debtor is ceasing production and sales as part of its Plan. The Debtor continues to market the Property for sale. As part of the Plan process, the Debtor has had conversations with multiple breweries, as well an individual interested buyer regarding the acquisition of the assets, brand, and goodwill of the Debtor. As a result of those discussions the Debtor plans to sell the brand and goodwill and some of the kegs (the "Brand and Kegs") to Scott McClung. The Debtor's assets consist of the Property, the Brand and Kegs, the Brewery Assets, and any consumable beer that has not been sold. Debtor intends to assign the Property and its fixtures to Stellar Bank pursuant to Section 1123(a)(5) and 1129(b)(2)(A)(iii) of the Bankruptcy Code in full satisfaction of Stellar Bank's secured claims. Debtor will sell the Brand and Kegs1 to McClung pursuant to Section 363 of the Bankruptcy Code. Additionally, the Debtor will sell the Brewery Assets funds to interested buyers pursuant to Section 363 of the Bankruptcy Code. The Debtor will sell the Ford Cargo Van to CarMax or an interested purchaser at an equal to or greater sales price. Portions of the sale proceeds shall be treated as free and clear of liens pursuant to Section 363(f)(4) of the Bankruptcy Code. Debtor will continue to sell the consumable beer to its customers and consumers at its Leased Space, until the lease terminates on April 30, 2026. Upon sale of the aforementioned Brand and Kegs, the Ford Cargo Van, and the Brewery Assets the funds will be distributed in accordance with this Plan and the Bankruptcy Code payment distribution scheme set forth in, inter alia, section 1129 of the Code. Class 1 consists of the Secured Claim of Stellar Bank, f/k/a Allegiant Bank. This Claim is comprised of one loan: (i) Loan *2184, dated July 10, 2018, for a loan amount of $470,000.00, secured by a purchase money security interest and a first lien on the furniture, fixture, and equipment for the value of the loan. The Claim Holder shall be paid to the extent of funds available from the sale of the Brewery Assets attributable to funds from Loan *2184 used to acquire those specific Brewery Assets. The under-secured portion, if any, shall become a Class 7 Unsecured Claim. Class 2 consists of the Under Secured Claim of Stellar Bank, f/k/a Allegiant Bank. The Debtor shall assign the Property and Brewery Assets purchased with funds from Loan *5918 and Loan *5922 ("Stellar *59xx Assets") to Claim Holder pursuant to Section 1129(b)(2)(A)(iii) of the Bankruptcy Code, as the Property and Stellar *59xx Assets are the indubitable equivalent of the secured claim secured by it. The Claim Holder shall be satisfied in full by the assignment of the Property and Stellar *59xx Assets for Loans *5918 and *5922. To the extent that such transfer does not fully satisfy this claim, the under-secured portion, if any, shall become a Class 7 Unsecured Claim. Class 4 consists of the Secured Claim of Ford Motor Credit Company. The Claim Holder shall be paid to the extent of funds available from the sale of the Ford Cargo Van securing the debt, but without payment of any late fees or penalties. It is anticipated that the sale of the vehicle will pay this claim in full. To the extent there is any deficiency, the undersecured portion, if any, shall become a Class 7 Unsecured Claim. Class 5 consists of the Secured Claim of Capital Certified Development Corporation. The Claim Holder shall be paid to the extent of funds available from the sale of the Brewery Assets. To the extent that such payment does not fully satisfy this claim, the under-secured portion, if any, shall become a Class 7 Unsecured Claim. Like in the prior iteration of the Plan, Class 7 General Unsecured claimants shall be paid their pro rata amount of the funds remaining in the Debtor's bank account after the sale of the Business (the Remaining Funds). The pro rata amount to be paid to each claimant is a fraction of the Remaining Funds, the numerator of which is the allowed claim of each Class 7 claimant and the denominator of which is the sum of the allowed claims of all Class 7 claimants. The source of funding in the Plan for the payment of all claims shall be the revenue generated from the sale of the Business and any remaining assets to affect the Closing, to pay allowed claims, and to compensate Debtor's counsel to the extent of its allowed fees. The Liquidated Debtor shall collect these funds and pay the obligations under the confirmed Plan as they become due. A full-text copy of the First Amended Combined Plan of Liquidation and Disclosure Statement dated April 29, 2026 is available at https://urlcurt.com/u?l=sdDRdP from PacerMonitor.com at no charge. Attorneys for the Debtor: Stacey Barnes, Esq. Vikesh N. Patel, Esq. Kearney, McWilliams & Davis, PLLC 55 Waugh Drive, Suite 150 Houston, TX 77007 Telephone: (888) 341-0997 Facsimile: (832) 916-2751 Email: sbarnes@kmd.law About Apogee Brewing Apogee Brewing, LLC operates a craft brewery and taproom in Houston, Texas. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 25-34497) on August 4, 2025. In the petition signed by Michael Duckworth, manager, the Debtor disclosed up to $10 million in both assets and liabilities. Judge Eduardo V. Rodriguez oversees the case. Stacey Barnes, Esq., at Kearney, McWilliams & Davis, PLLC, is the Debtor's legal counsel. ARCHER MOTORSPORTS: Gets Interim OK to Use Cash Collateral ---------------------------------------------------------- Archer Motorsports, Inc. received interim approval from the U.S. Bankruptcy Court for the District of Arizona to use cash collateral. Under the interim order, the Debtor is authorized to use cash collateral for post-petition operating expenses in accordance with an approved budget, subject to a 10% variance. Unless extended by the court, the Debtor's authority to use cash collateral will expire at 11:59 p.m. on June 3, the date scheduled for the final hearing. JPMorgan Chase Bank, N.A. and Specialized Bicycle Components, Inc. hold a security interest in substantially all of the Debtor's personal property and are owed $230,860 and $122,528.04, respectively. Meanwhile, several other creditors hold purchase-money security interests in some of the Debtor's inventory manufactured, sold, or distributed by such creditors including Haro Bicycle Corporation, Cycling Sports Group, Inc., Giant Bicycle Inc., and Gazelle USA, LLC. Secured creditors will receive replacement liens on the Debtor's post-petition property to the same extent, validity, and priority as existed on the petition date as protection for any diminution in collateral value resulting from the Debtor's use of cash collateral. JPMorgan will retain a first-priority security interest in any cash or deposit account up to the value of the Debtor's encumbered deposit account as of the bankruptcy filing. The order is available at https://is.gd/zjdqM4 from PacerMonitor.com. The court scheduled a final hearing on June 3 and set a May 22 deadline for filing objections. If no objections are filed by the deadline, the court may enter a final order approving continued use of cash collateral without conducting a further hearing. Formed in 2013, Archer Motorsports expanded significantly after its early success in the electric bicycle and recreational bike market, reaching approximately $5 million in annual revenue during its peak following the COVID-era surge in demand. However, declining sales beginning in 2023 forced store closures, leaving Archer Motorsports with three remaining retail locations in Arizona and Utah and reduced revenue of roughly $3.6 million in 2023. The Debtor expects to operate profitably during the reorganization period and will continue replenishing inventory in the ordinary course of business. About Archer Motorsports Inc. Archer Motorsports, Inc is an Arizona-based bicycle and e-bike retailer. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Ariz. Case No. 26-04217) on April 29, 2026. In the petition signed by Randolph Archer, president, the Debtor disclosed up to $500,000 in assets and up to $10 million in liabilities. Judge Madeleine C. Wanslee oversees the case. Anthony Cali, Esq., at Allen, Jones & Giles, PLC, represents the Debtor as legal counsel. ASCEND ELEMENTS: Limits TKJV, RMF, United Electric's Credit Bid --------------------------------------------------------------- Ascend Elements Inc. and its affiliates seek permission from the U.S. Bankruptcy Court for the Southern District of Texas, Houston Division, to deny or limit the credit bid rights of Turner-Kokosing Joint Venture (TKJV), RMF Nooter LLC, and United Electric Company Inc. in the sale of substantially all the Debtor's Asset at auction. The primary goal of these chapter 11 cases is to preserve liquidity, stabilize operations, and provide the breathing room necessary for the Debtors to explore a value-maximizing transaction or other restructuring alternatives for the benefit of all stakeholders. The Debtors seek approval of bid procedures to govern a marketing and sale process for substantially all of their assets and to preserve flexibility to designate one or more Stalking Horse Bidders later in the process if doing so would maximize value for the estates. Against the backdrop, three mechanic's lien claimants — TKJV, Nooter, and United — have expressed an interest in credit bidding their claims at the auction. TKJV’s and Nooter's claims are independently contested on documented grounds of overbilling, mismanagement, and inequitable conduct. TKJV's and Nooter's claims are tainted by documented misconduct. TKJV earned a 5% fee on all project costs, giving it every incentive to pass through rather than discipline cost overruns and waste. Indeed, a former Nooter employee described the Project's site culture as one in which there was a "barrel full of money" and people were intent on spending it. That culture was corroborated by witness accounts and by an independent audit identifying at least $16.8 million in Nooter overbillings alone, including excessive labor, equipment, supervisory costs, taxes, insurance, and post-demobilization charges — all of which TKJV, as sole supervisor on the construction project, approved or failed to stop. Further, United seeks to credit bid amounts that are subsumed by TKJV’s alleged claim and credit bid. The sale process cannot function fairly if TKJV, Nooter, and United are each permitted to bid their disputed lien amounts for a facility that still requires substantial completion, testing, and remediation. Any third-party bidder would be forced to finance and outbid unresolved claims that are overlapping on their face and tainted by extensive evidence of overbilling, inefficiency, defective work, and failed supervision. Accordingly, the Court should deny TKJV, Nooter, and United any right to credit bid. Alternatively, any permitted credit bid should be limited to the net amount of any finally allowed secured claim after deducting for overlapping subcontractor charges, settlements, setoff, recoupment, defective and nonconforming work, and any other deductions necessary to prevent a windfall and preserve a competitive auction process. On April 9, 2026, the Debtors each commenced a voluntary case under the Bankruptcy Code. No trustee or examiner has been appointed in these Chapter 11 Cases. The Bid Procedures Order directed the Debtors to work cooperatively with the M&M Claimants, other lien claimants, and certain mortgagees in good faith to attempt to resolve all issues relating to the validity, extent, priority, and amount of those parties' asserted liens. Overview of the Debtor's Apex 1-Project is provided. The Debtors respectfully submit that denial of the requested relief is warranted. In the alternative, should the Court permit some credit bidding, any such credit bid should, at minimum, be limited to the net undisputed amount, after accounting for setoff, recoupment, affirmative claims, overlapping charges, and with respect to TKJV, settlements of subcontractor claims embedded in TKJV's asserted lien amount. Any permitted credit bid should also be limited to the specific assets that actually secure the allowed claim and should exclude any asset as to which lien scope, priority, or proceeds rights remain disputed. Although the Debtors and the M&M Claimants engaged in good faith discussions to try and resolve such issues, ultimately the parties were unable to reach a resolution. The Debtors seek emergency consideration of the issues set forth in Motion prior to the Auction. About Ascend Elements Ascend Elements is an advanced manufacturing and recycling company dedicated to producing sustainable lithium-ion battery materials. Founded in 2015, the company operates from its headquarters in Westborough, Massachusetts, and serves the growing electric vehicle supply chain. Ascend Elements sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 26-90440) on April 9, 2026. In its petition, the Debtor reports estimated assets between $1 million and $10 million and estimated liabilities between $500,000 and $1 million. Honorable Bankruptcy Judge Christopher M. Lopez handles the case. The Debtor is represented by Ryan E. Manns, Esq., of Norton Rose Fulbright Us LLP. ATLANTIC OVERSEAS: To Employ SVN Commercial as Commercial Realtor ----------------------------------------------------------------- Atlantic Overseas Express, Inc. seeks approval from the U.S. Bankruptcy Court for the Southern District of Florida to employ Peter Messina of SVN Commercial Realty as commercial realtor in its Chapter 11 case. Mr. Messina will provide these services: (a) provide strategic guidance to the Debtor as it relates to finding Debtor a new commercial space to lease; and (b) assist in the negotiation and preparation of the proposed commercial lease. Mr. Peter Messina, CCIM of SVN Commercial Realty has been working with the Debtor for approximately 6 months to aid the Debtor in finding a new commercial space. Court filings state that he is not owed any pre-petition fees by the Debtor. Mr. Messina is expected to have his commission paid pursuant to a separate agreement between SVN Commercial Realty and the Landlord's representing agent. Any and all fees and costs associated with the representation remain subject to bankruptcy court approval. Mr. Peter Messina, CCIM of SVN Commercial Realty is a "disinterested person" within the meaning of Section 327(a) of the Bankruptcy Code, according to court filings. The firm can be reached at: Peter Messina, CCIM SVN Commercial Realty 5300 NW 33 Avenue, Suite 205 Fort Lauderdale, FL 33309 About Atlantic Overseas Express Inc. Atlantic Overseas Express, Inc. provides freight forwarding and logistics services from its headquarters in Doral, Florida, specializing in project cargo and complex shipments. The company operates domestically and internationally, offering air, ocean, truckload, rail, and air, ocean, truckload, rail, and distribution services, and maintains a Customs-bonded warehouse as a licensed Non-Vessel Operating Common Carrier (NVOCC). Atlantic Overseas Express filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. S.D. Fla. Case No. 25-22574) on October 24, 2025, with $699,334 in assets and $1,301,998 in liabilities. Maria L. Leon-Roosevelt, president of Atlantic Overseas Express, signed the petition. Judge Robert A. Mark presides over the case. Nicholas Rossoletti, at Ron S. Bilu, PA, is the Debtor's legal counsel. BARTRAM LOGISTICS: Seeks to Sell Miscellaneous Property ------------------------------------------------------- Bartram Logistics d/b/a Bartram Electric seeks permission from the U.S. Bankruptcy Court for the Middle District of Tennessee, to sell Property, free and clear of liens, claims, interests, and encumbrances. The Debtor owns several items of office furniture, office technology and two service vehicles (Miscellaneous Property). The Miscellaneous Property is surplus Debtor property. The Miscellaneous Property is not subject to any purchase money liens or encumbrances. The Miscellaneous Property appears to be subject to the blanket lien of Studio Bank, which covers certain collateral including inventory, and which appears to be perfected by the filing of Tennessee UCC-1 financing statement 439989594 on March 27, 2024. The Debtor intends to convene several private sales of the Miscellaneous Property through Facebook Marketplace to purchasers. Time is of the essence in closing the Sales, as the Debtor's real property lease, where the Miscellaneous Property is situated, expires on June 1, 2026. To avoid incurring further fees, the Debtor wishes to commence the Sales as soon as is reasonably possible. The Sales with each item sold for the estimated prices for a grand total of $19,494.62. The Debtor intends to sell the Miscellaneous Property "as-is," with no warranties or future obligations on the Debtor. The Sales align with the sound business purpose of liquidating assets that are no longer in use or needed to ensure the Debtor's continued business operations. The Miscellaneous Property has not been in use, and continued storage of the Miscellaneous Property has resulted in unwanted costs and fees. The Total Purchase Price will help the Debtor meet its ongoing payment obligations and support its business operations more generally. Moreover, the high likelihood of late fees for the Debtor's occupancy of the Premises indicate that liquidating the Miscellaneous Property through the Sales is time-sensitive, thus reinforcing the Debtor's expedited request. The Debtor reasonably believes that the Miscellaneous Property is subject to Studio Bank's blanket lien. About Bartram Logistics LLC Bartram Logistics, LLC, doing business as Bartram Electric, operates as an electrical subcontractor providing installation and related services for construction projects in the Southeastern United States. The company focuses on multifamily, hotel, and restaurant developments and undertakes electrical scopes of work under general contractors. It has completed more than 70 projects in the region and continues to work on dozens of active and contracted assignments. Bartram Logistics sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Tenn. Case No. 25-03788) on September 9, 2025. In its petition, the Debtor reported between $1 million and $10 million in assets and liabilities. Honorable Bankruptcy Judge Randal S. Mashburn handles the case. The Debtor is represented by Erin Malone-Smolla, Esq., at Bradley Arant Boult Cummings, LLP. BAXSTO LLC: Amends Unsecured Claims Pay Details ----------------------------------------------- Baxsto LLC submitted a Disclosure Statement describing Amended Plan of Reorganization dated April 29, 2026. The Debtor filed its Chapter 11 case to regain control of its finances and to prevent one creditor from dissipating its assets. On March 25, 2026, Debtor filed its First Interim Application for Approval of Attorney's Fees for Barron & Newburger. This application was approved on April 21, 2026. The Court approved fees in the amount of $59,402.50 and expenses in the amount of $430.57. On April 2, 2026, the Debtor commenced a mediation with Lea County State Bank, Valley Bank of Commerce and Diversified Lenders, Inc. The mediation did not result in an agreement. The parties have agreed to resume mediation at a later date. The Debtor proposes to continue to operate its oil and gas interests and to pursue litigation which will bring funds into the estate. The Debtor has compiled a list of its oil and gas interests which comprises approximately 2,900 entries and runs the over 200 pages. The Debtor investigated whether to obtain a professional valuation of its oil and gas interests. The Debtor received an estimate from Charles M. Tomblin, P.E. dated April 23, 2026 that a valuation of the Debtor's interests would cost between $210,150-$523,375. The Debtor's Chief Restructuring Officer has prepared an estimate that minerals would be valued at $5,164,000. The Debtor received an offer from Caddo Minerals dated April 10, 2026 to purchase its Texas holdings for $4,045,303. The Plan relies on a combination of operating the Debtor's oil and gas properties and pursuing litigation to generate proceeds for payment of creditors. Class 6 shall consist of the holders of Allowed General Unsecured Claims. There are twenty unsecured creditors holding claims in the amount of $30,511,415.90. The Debtor disputes many of the claims and will be filing objections to claims. The amount that Debtor does not dispute is approximately $1,574,321,34. The Class 6 creditors shall receive a payment on December 15 of each year beginning December 15, 2026 of Debtor's net cash less a reserve of $100,000 for payment of expenses going forward. The Debtor shall provide unsecured creditors with a statement of the projected distribution by November 1 of each year. If any unsecured creditor disagrees with the proposed distribution, it may seek a determination from the court. In addition to the regular distributions from operating income, unsecured creditors shall receive Additional Payments within 30 days after receipt by the Debtor. Additional Payments shall consist of the following: (i) amounts received by the Debtor from sale of assets and (ii) recoveries from litigation less contingent fees, if applicable. Payments to unsecured creditors shall continue until unsecured creditors have received a total of $3,000,000 or 100% of the amount of Allowed Claims, whichever is less. The Debtor's projections indicate that $1,765,000 will be payable through 2030 with approximately $400,000 per year payable in subsequent years. The Debtor also intends to liquidate non-core assets. The Birch Operations litigation could result in a distribution to the Debtor of approximately $500,00-$700,000 if successful. Class 6 is impaired. Feasibility of the Plan and Risk to Creditors measures the likelihood that creditors will receive the payments promised to them. The feasibility of the Plan depends on the Debtor's ability to execute its plan. The Debtor's plan is based upon maximizing its oil and gas revenues after the interference of the Receiver. The amount to be earned by the Debtor is dependent upon the ability of wells to produce, new wells drilled by oil and gas producers and the price of oil. As a result, the income to be received by the Debtor could fluctuate from the projections. Recoveries from litigation will depend upon the claims asserted by the Debtor, evidence produced in discovery and rulings made by courts on legal issues. As a result, recoveries from litigation cannot be predicted with any specificity. A full-text copy of the Disclosure Statement dated April 29, 2026 is available at https://urlcurt.com/u?l=pQxVTu from PacerMonitor.com at no charge. Counsel to the Debtor: Stephen W. Sather, Esq. David N. Stern, Esq. BARRON & NEWBURGER, P.C. 7320 N. Mopac Expwy, Suite 400 Austin, Texas 78701 (512) 476-9103 About Baxsto LLC Baxsto LLC, based in Austin, Texas, manages and owns undivided mineral interests in Howard and Borden Counties. Formed in 2014, the Company leases these mineral rights to oil and gas operators for the extraction of oil, gas, limestone, gravel, coal, sulfur, and other minerals. Baxsto LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Tex. Case No. 25-11291) on August 21, 2025. In its petition, the Debtor reports estimated assets and liabilities between $10 million and $50 million each. Bankruptcy Judge Shad Robinson handles the case. The Debtor is represented by Stephen W. Sather, at BARRON & NEWBURGER, P.C. BBBB GP: Commences Subchapter V Bankruptcy in Texas --------------------------------------------------- On May 4, 2026, BBBB GP LLC filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the Western District of Texas. According to court filings, the debtor reports between $1 million and $10 million in debt owed to between 1 and 49 creditors. A meeting of creditors under Section 341(a) to be held on June 9, 2026 at 01:00 PM via Via Phone: (888)330-1716; Code: 2226781. About BBBB GP LLC BBBB GP LLC is believed to operate as a general partner entity involved in investment management, real estate holdings, or business asset administration activities. BBBB GP LLC sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-51210) on May 4, 2026. In its petition, the debtor reported estimated assets between $1 million and $10 million and estimated liabilities between $1 million and $10 million. The debtor is represented by R. J. Shannon, Esq. of Shannon Lee Beatty LLP. BEASLEY BROADCAST: Settles Exchange Offer, Secures $35MM ABL Line ----------------------------------------------------------------- Beasley Broadcast Group, Inc. announced in a regulatory filing that Beasley Mezzanine Holdings, LLC (the "Issuer"), a direct, wholly owned subsidiary the Company, issued $98,475,254 in aggregate principal amount of 10.000% Senior Secured Second Lien PIK Notes due 2027. The 2027 PIK Notes were issued in connection with the previously announced exchange offer of the Issuer's existing 9.200% Senior Secured Second Lien Notes due 2028 for the 2027 PIK Notes in the amount of $500 per $1,000 principal amount of Existing Second Lien Notes tendered, plus 50% of accrued and unpaid interest thereof. Holders of approximately $184,056,000 aggregate principal amount of Existing Second Lien Notes participated in the Exchange Offer, exchanging their Existing Second Lien Notes into $98,475,254 aggregate principal amount of 2027 PIK Notes. The 2027 PIK Notes were issued pursuant to an indenture, dated as of May 1, 2026, among the Issuer, the guarantors named therein and Wilmington Trust, National Association, as trustee and collateral agent. The 2027 PIK Notes pay interest semi-annually in arrears on April 30 and October 30 of each year, with interest accruing from October 30, 2026, and the first Interest Payment Date being April 30, 2027. Interest will be payable in the form of PIK Interest (as defined in the 2027 PIK Notes Indenture). The 2027 PIK Notes were offered in a private placement to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended, and to certain non-U.S. persons in transactions outside of the United States in reliance on Regulation S under the Securities Act. Maturity and Springing Maturity Pursuant to the 2027 PIK Notes Indenture, the 2027 PIK Notes will mature on December 31, 2027. If: (i) on or before September 30, 2027, the Company and its subsidiaries have not entered into one or more binding agreements (subject solely to customary conditions precedent for transactions of the applicable type) for asset sales or debt or equity financings that the Company reasonably determines would yield proceeds, once consummated, sufficient to redeem all of the 2027 PIK Notes and any Existing First Lien Notes (as defined below) outstanding as of September 30, 2027, the 2027 PIK Notes will mature on such date, or (ii) an Event of Default (as defined in the 2027 PIK Notes Indenture) with respect to a breach of a covenant set forth in Section 8 of the Amended and Restated Transaction Support Agreement, dated as of April 27, 2026, by and among the Company and the supporting holders party thereto, has occurred, the 2027 PIK Notes will mature on the date such Event of Default occurred (the events described in (i) and (ii), collectively, the "Springing Maturity Condition," and any date on which the 2027 PIK Notes mature as a result thereof, the "Springing Maturity Date"). The Springing Maturity Condition may be waived, amended or deleted by holders of a majority of the 2027 PIK Notes. Equity Conversion At any time on or after December 31, 2027 (or, if the Springing Maturity Condition has occurred, the date on which the Springing Maturity Condition occurred), or upon the occurrence of an Event of Default (as defined in the 2027 PIK Notes Indenture), holders of at least a majority in aggregate principal amount of the 2027 PIK Notes then outstanding may elect to convert all outstanding 2027 PIK Notes into shares of the Company's Class A Common Stock and the Company's Class B Common Stock (such shares issuable upon conversion, the "Conversion Shares"). Upon such Equity Conversion, subject to obtaining any required regulatory approvals, all outstanding 2027 PIK Notes shall convert into Conversion Shares representing, in the aggregate, 95% of the issued and outstanding Class A Common Stock and Class B Common Stock (calculated on a fully diluted basis) immediately following such conversion; provided that the conversion percentage shall be reduced to 90%, 85% or 80%, respectively, if the Issuer has made cash payments at par to holders in respect of principal of the 2027 PIK Notes equal to at least 85%, 90% or 95%, respectively, of the original aggregate principal amount of 2027 PIK Notes issued on May 1, 2026 (without giving effect to any increase in principal amount resulting from PIK Interest). The equity conversion is subject to obtaining prior approval of the Federal Communications Commission and compliance with applicable FCC foreign ownership rules. Optional Redemption Provisions and Change of Control Repurchase Right At any time, the Issuer may redeem all or a part of the 2027 PIK Notes at a redemption price equal to 100% of the principal amount of the 2027 PIK Notes redeemed, plus accrued and unpaid interest, if any, to, but excluding, the applicable redemption date. In connection with any tender offer or other offer to purchase 2027 PIK Notes (including pursuant to a Change of Control Offer, as defined in the 2027 PIK Notes Indenture), if not less than 90.0% in aggregate principal amount of the outstanding 2027 PIK Notes are purchased by the Issuer or a third party, the Issuer or such third party will have the right to redeem or purchase, as applicable, all 2027 PIK Notes that remain outstanding following such purchase at the price paid to holders in such purchase, plus accrued and unpaid interest, if any, to, but excluding, the applicable redemption date. The holders of the 2027 PIK Notes will also have the right to require the Issuer to repurchase their 2027 PIK Notes upon the occurrence of a Change of Control (as defined in the 2027 PIK Notes Indenture), at an offer price equal to 101% of the aggregate principal amount of the 2027 PIK Notes plus accrued and unpaid interest, if any, to, but excluding, the date of repurchase. Ranking and Security The 2027 PIK Notes and related guarantees are the Issuer's and the guarantors named therein's senior secured obligations and are secured on a second-lien priority basis by the Collateral (as defined in the 2027 PIK Notes Indenture), subject to certain exceptions, limitations, Permitted Liens (as defined in the 2027 PIK Notes Indenture) and the intercreditor agreements among the collateral agents for the 2027 PIK Notes, the Existing First Lien Notes and the ABL Credit Facility providing for the relative priorities of their respective security interests in the assets securing the 2027 PIK Notes, the Existing First Lien Notes, the ABL Credit Facility and certain other matters relating to the administration of security interests. The 2027 PIK Notes are guaranteed by the Company and each of the Issuer's existing Material Domestic Subsidiaries (other than Excluded Subsidiaries, both as defined in the 2027 PIK Notes Indenture) and will be guaranteed by certain future Material Domestic Subsidiaries. Under the terms of the 2027 PIK Notes Indenture and the Intercreditor Agreements, the 2027 PIK Notes and related guarantees rank junior in right of payment to the Existing First Lien Notes and rank senior in right of payment to any future indebtedness of the Issuer and each Guarantor that is subordinated in right of payment to the 2027 PIK Notes and the guarantees. The 2027 PIK Notes and the guarantees are effectively senior in right of payment to any unsecured indebtedness of the Issuer and each Guarantor and indebtedness of the Issuer and each Guarantor secured by liens junior to the liens securing the 2027 PIK Notes. Restrictive Covenants The 2027 PIK Notes Indenture contains covenants that limit the Issuer's (and its restricted subsidiaries') ability to, among other things: incur additional indebtedness, guarantee indebtedness or issue disqualified stock or, in the case of such subsidiaries, preferred stock; pay dividends on, repurchase or make distributions in respect of capital stock or make other restricted payments; make certain investments or acquisitions; sell, transfer or otherwise convey certain assets; create liens; enter into agreements restricting certain subsidiaries' ability to pay dividends or make other intercompany transfers; consolidate, merge, sell or otherwise dispose of all or substantially all of the Issuer's or its subsidiaries' assets; enter into transactions with affiliates; and enter into Liability Management Transactions (as defined in the 2027 PIK Notes Indenture). Many of the covenants contained in the 2027 PIK Notes Indenture will not be applicable, and the subsidiary guarantees of the 2027 PIK Notes will be released, during any period when the 2027 PIK Notes have investment grade ratings from two of S&P, Moody's and Fitch. The full text copies of the 2027 PIK Notes Indenture, including the form of 2027 PIK Notes contained therein, is available at https://tinyurl.com/2fu53n7t Supplemental Indenture for Existing First Lien Notes On May 1, 2026, the supplemental indenture, by and between the Issuer and Wilmington Trust, National Association, the trustee and collateral agent for the Issuer's 11.000% Senior Secured First Lien Notes due 2028, became effective, amending the provisions of the indenture, dated October 8, 2024, by and among the Issuer, the guarantors thereto and Wilmington Trust, National Association, as the trustee and the collateral agent, governing the Existing First Lien Notes. A full text copy of the Existing First Lien Notes Supplemental Indenture is available at https://tinyurl.com/bdhhpacb Supplemental Indenture for Existing Second Lien Notes On May 1, 2026, the supplemental indenture, by and between the Issuer and Wilmington Trust, National Association, the trustee and collateral agent for the Existing Second Lien Notes, became effective, amending the provisions of the indenture, dated October 8, 2024, by and among the Issuer, the guarantors thereto and Wilmington Trust, National Association, as the trustee and the collateral agent, governing the Existing Second Lien Notes. A full text copy of the Existing Second Lien Notes Supplemental Indenture is available at https://tinyurl.com/5x2rpyw3 Amended and Restated Transaction Support Agreement On April 27, 2026, the Company entered into the A&R TSA, which amends and restates the Transaction Support Agreement, dated as of March 20, 2026. In addition to the terms of the Original TSA, the A&R TSA grants the Initial 1L Supporting Holder (as defined in the A&R TSA) the right, commencing 360 days after the closing of the Transactions (as defined in the A&R TSA) and subject to certain conditions set forth therein, to propose candidates for an additional independent director to be appointed to the Company's board of directors. A full text copy of the A&R TSA is available at https://tinyurl.com/2eaxtuf2 ABL Credit Facility On May 1, 2026, the Company, its direct wholly owned subsidiary, Beasley Media Group, LLC (the "Borrower"), and certain of the Borrower's direct and indirect wholly owned subsidiaries entered into that certain Loan and Security Agreement with Siena Lender Group LLC as lender, which provides for a $35.0 million secured asset-based revolving credit facility. The maturity date of the ABL Credit Facility is the earlier of: (i) May 1, 2029 and (ii) the Springing Maturity Date. Subject to certain conditions and consent of the Lender, the ABL Credit Facility may be increased by $10.0 million for a total facility size up to $45.0 million. Borrowings under the ABL Credit Facility may be used to pay fees, costs and expenses incurred with the transactions contemplated by the ABL Credit Facility, for working capital and other purposes permitted by the ABL Credit Agreement. Amounts borrowed under the ABL Credit Facility may be repaid and reborrowed from time to time. The borrowing base under the ABL Credit Facility includes certain eligible billed and unbilled accounts receivable, subject to certain limitations, reserves and eligibility criteria. Loans under the ABL Credit Facility will bear interest at a floating rate per annum equal to the greater of (x) a term-SOFR based rate plus an applicable margin of 4.25% and (y) 6.75%. The ABL Credit Facility requires that the Borrower maintain liquidity of $5.0 million which is increased to $6.0 million if proceeds from asset sales permitted under the ABL Credit Agreement exceed $30.0 million. The Borrower is also required to have the outstanding principal balance of loans and letters of credit equal or exceed: (i) $15.0 million prior to the first anniversary of the ABL Credit Facility and (ii) $10.0 million from and after the first anniversary of the ABL Credit Facility. Subject to certain exceptions and materiality qualifiers, the ABL Credit Facility includes certain customary affirmative and negative covenants, which, among other things, restricts the ability of the Borrower and the guarantors, subject to certain exceptions, to incur debt, grant liens, make restricted payments and investments, issue equity, sell or lease assets, dissolve or merge with another entity, enter into transactions with affiliates, change their business, prepay debt and amend their organizational and material agreements. The ABL Credit Facility also contains customary events of default, including for the failure of the Borrower and guarantors to comply with the various financial, negative and affirmative covenants under the ABL Credit Facility. During the existence of an event of default (as defined under the ABL Credit Facility), the lender has a right to, among other available remedies, terminate the commitments and/or declare all outstanding loans and accrued interest and fees under the ABL Credit Facility to be immediately due and payable. A full text copy of the ABL Credit Agreement is available at https://tinyurl.com/yc24j7sy Press Release On May 1, 2026, the Company issued a press release announcing the settlement of the Offers and the issuance of the 2027 PIK Notes. A full text copy of the press release is available at https://tinyurl.com/2tved84t About Beasley Beasley Broadcast Group -- http://www.bbgi.com-- is a multi-platform media company whose primary business is operating radio stations throughout the United States. The Company offers local and national advertisers integrated marketing solutions across audio, digital and event platforms. The Company owns and operates 49 AM and FM stations in the following large- and mid-size markets in the United States: Augusta, GA, Boston, MA, Charlotte, NC, Detroit, MI, Fayetteville, NC, Las Vegas, NV, Middlesex, NJ, Monmouth, NJ, Morristown, NJ, Philadelphia, PA, and Tampa-Saint Petersburg, FL. Los Angeles, California-based Crowe LLP, the Company's auditor since 2006, issued a "going concern" qualification in its report dated April 8, 2026, attached to the Company's Annual Report on Form 10-K for the year ended December 31, 2025, citing that the Company has a history of net losses and negative operating cash flows, expects to continue to incur additional losses in the near future and is currently in default on a portion of its debt that raise substantial doubt about its ability to continue as a going concern. As of December 31, 2025, the Company had $549.2 million in total assets, $402 million in total liabilities, and $147.2 million in total stockholders' equity. BESTAR INC: Obtains Interim Protection for U.S.-Based Assets ------------------------------------------------------------ Rick Archer of Law360 Bankruptcy Authority reports that a Delaware bankruptcy judge on Wednesday, May 6, 2026, extended provisional protections for the American assets of Bestar while the Quebec-based office furniture company seeks U.S. recognition of its Canadian liquidation proceedings. The decision keeps creditor actions on hold as the Chapter 15 case proceeds in Delaware bankruptcy court. The company filed for relief under Canada's insolvency framework and later petitioned the U.S. court for Chapter 15 recognition, a process designed to assist foreign debtors with assets or creditors in the United States. Bestar argued that interim protections were necessary to avoid disruptions that could undermine the value of its estate during the liquidation process, the report states. Bestar manufactures office and home furniture products sold throughout Canada and the United States, including desks, cabinets and storage systems. The court’s order temporarily shields the company's U.S.-based assets from lawsuits, seizures and other collection efforts pending further hearings on recognition of the Canadian proceedings, according to Law360. About Bestar Inc. Bestar Inc. is a leading Canadian manufacturer of ready-to-assemble furniture. Bestar Inc. sought relief under Chapter 15 of the U.S. Bankruptcy Code(Bankr. D. Del. Case No. 26-10659) on May 4, 2026. The Debtor is represented by Represented By David M. Klauder, Esq. of Bielli & Klauder, LLC. BIG DIGITAL: Joint Mining Agreement Targets Near-Term Revenue ------------------------------------------------------------- Big Digital Energy, Inc. announced in a regulatory filing that it entered into a Joint Mining Agreement with Big Digital Energy, LLC, an affiliate of the Endeavor Group. Endeavor consists of certain members of the Company's management team. Through the Agreement, Management desires to bring real revenue into the Company in the short term while pursuing its goal to move its operations away from Bitcoin mining towards selectively monetizing excess capacity where economically prudent and aligned with shareholder value creation. The Company's core strategy is to optimize the utilization of each megawatt by deploying it toward the highest-value applications, with current priority given to future expansion into AI and high-performance computing ("HPC") data center developments. BDE is deemed an affiliate of the Company because it is owned and/or controlled by Josh Kilgore, the Company's Executive Chair; Phil Stanley, the Company's CEO; and Cody Smith, the Company's COO, who also serve as members of the Company's Board of Directors. Entities affiliated with Mr. Kilgore, Mr. Smith, and Mr. Stanley hold 60%, 20%, and 20% ownership interests, respectively, in BDE. Under the terms of the Colocation Agreement, BDE will purchase and deliver approximately 25,000 s19xp mining computers, and Big Digital will provide BDE with approximately 75MW of computing capacity at its facility in Midland, PA. Ownership of the miners will transfer to the Company after BDE reaches its stated return on investment as set forth in the Colocation Agreement. The Parties will operate under a 50%/50% profit-sharing structure, pursuant to which Big Digital will receive all cash net proceeds from the mining operations. The cash revenue will be used for general corporate purposes and asset purchases to ensure the Company's use of all available power across its facility locations. As its share of the profit-sharing structure, BDE will receive monthly grants consisting of a combination of: (i) shares of the Company's common stock, where the number of shares will equal 20% of its share of the monthly cash net proceeds divided by 30-day volume weighted average price of the Company's common stock on the grant date (as of May 1, 2026, the 30-day VWAP calculation would result in a $4.94 share price), and (ii) warrants to purchase the Company's common stock, where the number of underlying shares will equal 80% of its share of the monthly cash net proceeds divided by $20. The warrants will allow BDE to purchase the Company's common stock at an exercise price of $20 per share and will have a five-year term. The total amount of cash the Company will receive from the Colocation Agreement will be largely dependent on the economics of mining during the term of the Agreement. The Agreement has a 12-month term and may be terminated upon 30 days' notice, subject to its conditional terms. Cash or other consideration equal to the monthly cash net proceeds will be paid in lieu of the securities, to the extent that: (i) stockholder approval would otherwise be required for their issuance or the substitution is otherwise necessary to comply with Nasdaq listing standards or (ii) the substitution is approved by a majority of the independent members of the Company's Board of Directors. Management Comments Phil Stanley, Chief Executive Officer of Big Digital, commented, "This agreement demonstrates how the new management team at Big Digital is aggressively working to unearth new revenue streams and maximize the utility of our assets. By leveraging our existing infrastructure and partnering with a well-capitalized counterparty, we're able to rapidly bring incremental capacity online in a capital-efficient manner. This is the first of many transactions we expect to undertake as we focus on accelerating revenue growth, expanding our operational footprint, enhancing overall profitability, and creating value for our shareholders." Joshua Kilgore, Executive Chairman of Big Digital, stated, "We are committed to the long-term performance of Big Digital and have structured this transaction to demonstrate our commitment. This arrangement: (1) rapidly enhances Big Digital's cash flows, (2) does not require Big Digital to deploy capital or incur liabilities, (3) provides Big Digital with an above market profit-sharing arrangement, and (4) is only profitable for Endeavor if Big Digital's shares appreciate materially." The transaction was reviewed and unanimously approved by the independent members of the Company's Audit Committee. All directors and officers with an ownership interest in Endeavor recused themselves from all deliberations and did not participate in the vote. The consideration under the agreement will be based on the market value of the mining computers and a volume-weighted average price of the common stock as of the date of the agreement. The Company expects the deployment of the mining computers to commence promptly, utilizing available capacity across Big Digital's existing infrastructure footprint. This initiative is aligned with the Company's broader strategy of optimizing underutilized assets while pursuing high-return opportunities across its digital infrastructure platform. The incremental free cashflow to the Company will be used to improve existing assets, build out new assets, and build a secure foundation for the future. About Big Digital Energy, Inc. Big Digital Energy, Inc. formerly known as Mawson Infrastructure Group Inc., is a U.S.-based technology company that designs, builds, and operates next-generation digital infrastructure platforms. The Company provides services spanning artificial intelligence, high performance computing, digital assets (including Bitcoin mining), and other intensive compute applications. The Company delivers both self-mining operations and colocation/hosting for enterprise customers, with a vertically integrated infrastructure model built for scalability and efficiency. Boston, Massachusetts-based Wolf & Company, P.C., the Company's auditor since 2023, issued a "going concern" qualification in its report dated March 31, 2026, attached to the Company's Annual Report on Form 10-K for the year ended December 31, 2025, citing that the Company has incurred net losses since its inception, and had negative working capital and will need additional funding to continue operations. This raises substantial doubt about the Company's ability to continue as a going concern. As of December 31, 2025, the Company had $57.4 million in total assets, $60.6 million in total liabilities, and $3.1 million in total stockholders' deficit. BLUE SUN: Unsecureds to Get Share of Income for 5 Years ------------------------------------------------------- The Innovative Technologies Group & Co., LTD, a debtor affiliate of Blue Sun Scientific LLC, filed with the U.S. Bankruptcy Court for the District of Maryland a Disclosure Statement in support of Plan of Reorganization dated April 29, 2026. The Debtor is a corporation that was formed under the laws of the State of Maryland on June 5, 1997. Since that time, it has operated as a specialized manufacturer of process and quality control optical instruments serving the food and agriculture, packaging, and oil analysis industries. The Debtor created a new NIR product line. Over the course of 4 years, and through partnerships with influential customers, it was able to fully launch and begin to market that product line in 2014. The Debtor decided to market and sell this product line directly as its own, unlike the typical OEM (Private Label) model, that it had used in the past. The acceptance of this product led the Debtor to launch a wholly-owned sales and marketing subsidiary, Blue Sun. On April 5, 2021, KPM, a competitor of the Debtor, sued the Debtor, Blue Sun, and a number of individuals in the District Court, asserting claims of trade secret misappropriation and tortious interference centered around the sales of the Phoenix NIR product line. Prior to the collection action by KPM, the Debtor was generally paying its trade debts as they came due and, but for what is believed to be an erroneous Judgment, the Debtor would have been able to operate without the intervention of the Bankruptcy Court. In advance of the enrollment of the Judgment in the United States District Court for the District of Maryland, the Debtor had consulted with W&O to evaluate its options. After the entry of the KPM Judgment in the District Court, and knowing that collection activities were on the horizon, the Debtor recognized that pursuit of relief under Chapter 11 in the Bankruptcy Court was probably upon it in order to maximize its chances for long-term success. The issuance of the Writs of Garnishment and the freezing of the Debtor's bank accounts resulting from the Writs sealed that decision. The Plan proposes that the Debtor will continue to operate its business and for a period of five years, use its Disposable Income to make distributions to Holders of Allowed Claims in the priority established by the Bankruptcy Code. After the Appellate Proceedings have been resolved, the existence and amount of KPM's Claim have been finally determined, and any other Claim Objections are resolved, the Debtor will distribute all cash of the estate to general unsecured creditors pro rata basis after the Administrative Claims, the Claims of Priority Creditors, and the claims of creditors with Claims of $2,500.00 or less have been paid in full. Class 6 consists of Allowed Unsecured Claims in amounts equal to or less than $2,500.00. Each Holder of an Allowed General Unsecured Claim in an amount greater than $2,500.00, which would otherwise be an Allowed General Unsecured Claim in any other Class under the Plan, may voluntarily reduce its Claim to $2,500.00 and be treated as a Holder of an Allowed Unsecured Convenience Claim for purposes of this Plan. In full and complete satisfaction, discharge and release of the Class 6 Claims, the Debtor shall pay each Holder of a Class 6 Claim one hundred percent of its Allowed Claim, in full, without interest, within ninety days of the Effective Date. Class 6 is Impaired. Class 7 consists of the Allowed Non-priority Unsecured Claims including any wage claims that exceed $17,500.00 or that were earned more than 180 days prior to the Petition Date. In full and complete satisfaction, discharge and release of the Class 7 Claims, the Debtor shall pay each Holder of a Class 7 Allowed Claim, on a pro rata basis, pari passu, with the Allowed Class 8 Claim, on a quarterly basis, without interest, commencing the quarter immediately following the quarter when Class 6 Claims have been paid in full. Class 7 Claims will be paid from Disposable Income through and including the date that is five years after the Effective Date. Class 8 consists of the disputed Judgment Claim of KPM on account of the Judgment entered in the District Court. See Claim #5 in the amount of $10,130,176.42. The Debtor has appealed the judgment and that appeal remains pending. Class 7 is treated as disputed until resolution of the appeal. The Debtor scheduled KPM's Disputed Claim at $10,092,992.14 and KPM has filed its Proof of Claim 5 asserting a Claim of $10,130,176.42. To the extent that the Appellate Proceedings result in KPM holding an Allowed Claim, in full and complete satisfaction, discharge and release of the Class 8 Claim, the Debtor shall pay the Holder of the Class 8 Allowed Claim pari passu with the Allowed Class 7 Claims, on a quarterly basis, without interest, commencing the quarter immediately following the quarter when Class 6 Claims have been paid in full. The Class 8 Claim will be paid from Disposable Income through and including the date that is five years after the Effective Date. Class 9 consists of the Equity Interest in the Debtor. Mr. Wilt, as the sole Holder of a Class 9 Interest, shall have his Interest reinstated under the Plan in exchange for the Cash Infusion, and shall receive all proceeds of the Cash Infusion after payment of all Post-Effective Date Expenses, U.S. Trustee fees, Administrative Expenses, Secured Claims, Priority Claims, and General Unsecured Claims. Within 14 days of the Effective Date, Mr. Wilt shall cause to be paid the first $5,000.00 of his Cash Infusion. On the same date for each of the following four years, Mr. Wilt shall cause to be paid an additional $5,000.00 to the Bankruptcy Estate for a total of $25,000.00. On the Effective Date, all of the assets of the Debtor shall vest in the Debtor, subject to the Liens and other obligations expressly created or preserved by this Plan, but otherwise free and clear of all other liens, claims, interests and encumbrances. All rights to manage the Debtor shall be vested in the Debtor, including any right to appeal the Confirmation Order. A full-text copy of the Disclosure Statement dated April 29, 2026 is available at https://urlcurt.com/u?l=GJ9b9J from PacerMonitor.com at no charge. Counsel for The Innovative Technologies: Jeffrey M. Orenstein, Esq. Wolff & Orenstein, LLC 15245 Shady Grove Road, Suite 465 Rockville, Maryland 20850 (301) 250-7232 Email: jorenstein@wolawgroup.com About Blue Sun Scientific LLC Blue Sun Scientific LLC, a majority-owned subsidiary of Innovative Technologies Group and Co., develops, manufactures, distributes, and services analytical solutions for global markets, including agriculture, chemical, and food industries. The Company offers rapid, non-destructive analysis tools such as Phoenix NIR analyzers for applications in forage, animal feed, pet food, oilseeds, and plant breeding, supported by instruments, software, reagents, sample handling systems, training, and long-term services. Headquartered in Jessup, Maryland, it operates internationally through representatives and distributors in over 50 countries. Blue Sun Scientific LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Md. Case No. 25-17998) on Aug. 29, 2025. In its petition, the Debtor reports total assets of $451,175 and total liabilities of $6,329,907. The Debtor tapped Maurice Verstandig, Esq., at The Belmont Firm as bankruptcy counsel and Smith Duggan Cornell & Gollub LLP as special counsel. BROOKDALE SENIOR: BlackRock Portfolio Holds 2.3% Equity Stake ------------------------------------------------------------- BlackRock Portfolio Management LLC disclosed in a Schedule 13G (Amendment No. 2) filed with the U.S. Securities and Exchange Commission that as of March 31, 2026, it beneficially owns 5,408,993 shares of Brookdale Senior Living Inc.'s Common Stock, representing 2.3% of the class. The Schedule 13G reflects the securities beneficially owned, or deemed to be beneficially owned, by certain business units (collectively, the "Reporting Business Units") of BlackRock, Inc. and its subsidiaries and affiliates, and does not include securities, if any, beneficially owned by other business units whose beneficial ownership of securities are disaggregated from that of the Reporting Business Units in accordance with SEC Release No. 34-39538 (January 12, 1998). Various persons have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of the common stock of Brookdale Senior Living Inc., though no one person's interest is more than five percent of the total outstanding common shares. BlackRock Portfolio Management LLC may be reached through: Spencer Fleming, Managing Director 50 Hudson Yards New York, NY 10001 Tel: (212) 810-5800 A full-text copy of BlackRock Portfolio Management LLC's SEC report is available at: https://tinyurl.com/sw4yxu6f 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. BUD'S DUMPSTER: Case Summary & 13 Unsecured Creditors ----------------------------------------------------- Debtor: Bud's Dumpster and PortaPotty Rental, LLC 2630 Raber Road Uniontown, OH 44685 Business Description: Bud's Dumpster and PortaPotty Rental, LLC is a Uniontown, Ohio-based waste-management services company operating that provides dumpster and roll-off rentals, portable toilet rentals, junk removal, hauling, demolition cleanup, and debris-removal services. Chapter 11 Petition Date: May 4, 2026 Court: United States Bankruptcy Court Northern District of Ohio Case No.: 26-50772 Judge: Hon. Alan M Koschik Debtor's Counsel: Steven J. Heimberger, Esq. RODERICK LINTON BELFANCE LLP 50 South Main Street, 10th Floor Akron, OH 44308 Tel: 330-434-3000 E-mail: sheimberger@rlbllp.com Estimated Assets: $0 to $50,000 Estimated Liabilities: $1 million to $10 million The petition was signed by John Chafe as managing member. A full-text copy of the petition, which includes a list of the Debtor's 13 unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/C7DTYKA/Buds_Dumpster_and_PortaPotty_Rental__ohnbke-26-50772__0001.0.pdf?mcid=tGE4TAMA BUDS' TRUCKING: Case Summary & Six Unsecured Creditors ------------------------------------------------------ Debtor: Buds' Trucking & Dumpster Service, Inc. 2630 Raber Road Uniontown, OH 44685 Business Description: Buds' Trucking & Dumpster Service, Inc. is a Uniontown, Ohio-based trucking and dumpster-rental company that provides dumpster and roll-off dumpster rental services in Akron and surrounding areas. Chapter 11 Petition Date: May 4, 2026 Court: United States Bankruptcy Court Northern District of Ohio Case No.: 26-50771 Judge: Hon. Alan M Koschik Debtor's Counsel: Steven J. Heimberger, Esq. RODERICK LINTON BELFANCE LLP 50 South Main Street, 10th Floor Akron, OH 44308 Tel: 330-434-3000 Email: sheimberger@rlbllp.com Estimated Assets: $500,000 to $1 million Estimated Liabilities: $1 million to $10 million The petition was signed by John Chafe as managing member. A full-text copy of the petition, which includes a list of the Debtor's six unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/BS3SYPY/Buds_Trucking__Dumpster_Service__ohnbke-26-50771__0001.0.pdf?mcid=tGE4TAMA BUILDERS FIRSTSOURCE: S&P Alters Outlook to Neg., Affirms 'BB' ICR ------------------------------------------------------------------ S&P Global Ratings revised its outlook on U.S.-based building materials distributor Builders FirstSource Inc. (BFS) to negative from stable because these factors are pressuring credit measures. S&P affirmed the 'BB' issuer credit rating and all debt ratings. The negative outlook reflects the risk that BFS' leverage could remain at or above 4x if industry conditions worsen or the company makes aggressive financial policy actions, including significant share repurchases or leveraging acquisitions. BFS's EBITDA dropped approximately 42% in the first quarter, and the company lowered its guidance for 2026 by 13%. It also repurchased about $300 million in shares in the quarter and increased its repurchase authorization. Lower EBITDA guidance and higher share repurchases are pressuring credit metrics. BFS' adjusted EBITDA was down 42% in its first quarter due to tough industry conditions and an unfavorable year-over-year comparison. While a decline was expected, and the result was toward the higher end of BFS' guidance for the quarter, it lowered its full-year 2026 EBITDA guidance range by about $200 million at the midpoint, which is well below our forecast. In addition, the company repurchased $300 million in shares in the quarter, which was significantly higher than we expected and already nearly 75% of the amount it repurchased all last year. It also increased its share repurchase authorization to $500 million. S&P expected the company would significantly reduce share repurchases because its leverage is above its long-term target, but these actions could indicate a more aggressive financial policy than our rating reflects. S&P said, "We forecast leverage will spike above 4x. S&P Global Ratings-adjusted leverage reached 3.9x on March 31, 2026. We believe it will peak above 4x in the second quarter due to industry softness and another unfavorable comparison before retreating to about 4x as EBITDA in the second half of 2026 outpaces a soft period last year. Our rating incorporates an expectation that the company will manage leverage under 3x during favorable economic environments so that leverage isn't sustained above 4x during cyclical downturns. "We affirmed our ratings because we believe the leverage increase is temporary. The industry is currently in a downcycle, and we believe it could be nearing a trough. BFS' S&P Global Ratings-adjusted leverage was 0.8x-2x every year from 2020-2024, and we believe it will trend toward the company's 1x-2x target once operating conditions improve." Operational efficiencies--including product initiatives and automation efforts--and a targeted $100 million in cost savings planned for the year further support this view. However, the rating could be pressured if market conditions worsen, operational execution suffers, or the company pursues further share repurchases or leveraging acquisitions that cause leverage to be sustained at or above 4x. New residential construction and repair-and-remodeling spending will remain subdued. S&P Global Ratings economists project U.S. housing starts will be down 1.5% to about 1.34 million this year. S&P said, "We forecast modest 0%-1% growth in starts in 2027. Given that BFS depends on single-family residential construction for about 68% of its business, we expect these trends will continue to weigh on performance. In addition, Harvard's Leading Indicator of Remodeling Activity estimates the expansion in residential remodeling will slow to 1.8% in 2026 (from 2.7% in 2025) and decelerate further in 2027." Although BFS' products have significant scale and breadth, the company depends almost entirely on residential investment, including new construction and repair and remodeling. The demand for housing materials has been weak for many reasons, including persistently high mortgage rates and affordability issues, which have led to lower construction activity and remodeling spending. Recent spikes in mortgage rates and oil prices and low consumer sentiment further complicate the picture. The negative outlook reflects the risk that BFS' leverage could remain at or above 4x if industry conditions worsen or the company makes aggressive financial policy actions, including significant share repurchases or leveraging acquisitions. S&P said, "We could consider lowering the ratings if we expected the company's S&P Global Ratings-adjusted leverage to exceed 4x under pressures of a cyclical downturn or, in a normal operating environment, adjusted leverage exceeds 3x, as this would leave a limited cushion to withstand industry cyclicality. "We could revise the outlook back to stable if we believe the company will maintain S&P Global Ratings-adjusted leverage below 4x during the current depressed environment and that leverage will trend back toward the company's long-term target." CALLAHAN ENTERPRISES: Gets Interim OK to Use Cash Collateral ------------------------------------------------------------ Callahan Enterprises, LLC received interim approval from the U.S. Bankruptcy Court for the District of Arizona to use cash collateral. Under the interim order, the Debtor is authorized to use cash collateral through May 26 to pay expenses in accordance with its budget. The U.S. Small Business Administration holds a first-position lien on substantially all assets and is partially secured, while several other creditors including Sheffield (or another unidentified lienholder), the Arizona Department of Revenue, Fox Funding Group, and OnDeck Capital hold junior liens that are asserted to be wholly unsecured. Additional lenders such as Headway Capital and Kapitus are believed to lack perfected security interests. As adequate protection, secured creditors will be granted a replacement lien on any assets acquired by the Debtor post-petition, including but not limited to cash collateral, with such liens having the same validity, priority, and extent as their pre-petition liens. In addition, the SBAA will receive a monthly payment of $438.50. The order is available at https://is.gd/ZF43DZ from PacerMonitor.com. The court scheduled a final hearing on May 26 and set a May 25 deadline for filing objections. Callahan, which has operated since 2008 providing heavy-duty automotive repair services, maintains two leased locations in Mesa, Arizona. As of the petition date, the Debtor held approximately $94,622 in cash collateral, consisting of bank account funds, accounts receivable, undeposited funds, and a note receivable. Payroll represents the largest recurring expense, with nine employees and monthly payroll obligations exceeding $47,000. The Debtor also had outstanding unpaid prepetition wages and immediate upcoming payroll deadlines, reinforcing the urgency of accessing cash collateral to maintain workforce continuity and business operations. About Callahan Enterprises LLC Callahan Enterprises, LLC provides heavy-duty automotive repair services, maintains two leased locations in Mesa, Arizona. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Ariz. Case No. 2:26-bk-04051-SHG) on April 24, 2026. In the petition signed by Preston M. Callahan, the Debtor disclosed up to $500,000 in assets and up to $1 million in liabilities. Judge Scott H. Gan oversees the case. M. Preston Gardner, Esq., at Davis Miles, PLLC, represents the Debtor as legal counsel. CALLAHAN ENTERPRISES: Gets OK to Hire Davis Miles as Legal Counsel ------------------------------------------------------------------ Callahan Enterprises, LLC received approval from the U.S. Bankruptcy Court for the District of Arizona to employ Davis Miles, PLLC as counsel. The firm will render these services: (a) advise the Debtor as to its rights, duties, and powers; (b) prepare and file legal documents and pleadings necessary to be filed by the Debtor in this case; (c) represent the Debtor at all hearings, meetings of creditors, trials, conferences, and other proceedings in this case; and (d) perform such other legal services as may be necessary in connection with this case. In the 90 days prior to the petition date, the firm received total payments of $8,000 from the Debtor. M. Preston Gardner, Esq., a managing member at Davis Miles, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: M. Preston Callahan, Esq. Davis Miles, PLLC 999 E. Playa del Norte, Suite 510 Tempe, AZ 85288 Telephone: (480) 733-6800 Facsimile: (480) 733-3748 Email: efile.dockets@davismiles.com About Callahan Enterprises LLC Callahan Enterprises, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Ariz. Case No. 26-04051) on April 24, 2026, with $100,001 to $500,000 in assets and $500,001 to $1 million in liabilities. Judge Scott H. Gan presides over the case. M. Preston Gardner, Esq., at Davis Miles, PLLC represents the Debtor as counsel. CBD LEWIS: Voluntary Chapter 11 Case Summary -------------------------------------------- Debtor: CBD Lewis, LLC 508 W. Lookout Dr. 14-70 Richardson, TX 75080 Chapter 11 Petition Date: May 4, 2026 Court: United States Bankruptcy Court Northern District of Texas Case No.: 26-31994 Debtor's Counsel: Stephanie D. Curtis, Esq. CURTIS LAW PC 901 Main Street Suite 6230 Dallas, TX 75202 Tel: 214-752-2222 E-mail: scurtis@curtislaw.net Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Charlotte Stephens as president and director. 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/2AZIDNA/CBD_Lewis_LLC__txnbke-26-31994__0001.0.pdf?mcid=tGE4TAMA CHARLES & COLVARD: Court Sets June 22 for Final Asset Sale Hearing ------------------------------------------------------------------ Charles & Colvard, Ltd. announced that the United States Bankruptcy Court for the Eastern District of North Carolina entered an Order: (i) approving Van Lang Jewelry, LLC or its affiliate Jewelry Design Partners, LLC (the "Buyer") as the "stalking horse" bidder with respect to the assets to be acquired under the Purchase Agreement on the terms set forth in the Order, (ii) approving the "stalking horse" bidder to credit bid all or any portion of the outstanding DIP Obligations (as defined within the Purchase Agreement) under the DIP Facility, as a part of the purchase price under the Purchase Agreement, (iii) approving the credit bid provisions contemplated by the Purchase Agreement, (iv) approving the stalking horse break-up fee and expense reimbursement as set forth in the Purchase Agreement, and (v) approving the proposed bidding procedures. The Bankruptcy Court scheduled the final sale hearing for June 22, 2026, at 11:00 a.m. ET. On April 30, 2026, after approval of the Bankruptcy Court, the Company countersigned the Purchase Agreement. Background On March 2, 2026, the Company filed a voluntary petition for relief under Chapter 11 of Title 11 of the United States Code in the Bankruptcy Court, and commenced a Chapter 11 case for the Company. The case is styled as In re Charles & Colvard, Ltd. The Company entered into the Purchase Agreement, pursuant to which, subject to the terms and conditions set forth therein, including approval of the Bankruptcy Court, the Buyer agreed to acquire the assets of the Company (except for the Excluded Assets, as listed on Schedule 1 thereto) 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). 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. Transaction Conditions 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. 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. CLAY YOUNG: Seeks Subchapter V Bankruptcy in Mississippi -------------------------------------------------------- On May 4, 2026, Clay Young Properties LLC filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the Southern District of Mississippi. According to court filings, the debtor reports between $100,001 and $1 million in debt owed to between 1 and 49 creditors. About Clay Young Properties LLC Clay Young Properties LLC is believed to operate as a real estate investment and property management company involved in owning and managing commercial or residential assets in Mississippi. Clay Young Properties LLC sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-01231) on May 4, 2026. In its petition, the debtor reported estimated assets between $1 million and $10 million and estimated liabilities between $100,001 and $1 million. Honorable Bankruptcy Judge Katharine M. Samson handles the case. The debtor is represented by Douglas M. Engell, Esq. CLEARSIDE BIOMEDICAL: Includes Existing Common Stock Pay Details ---------------------------------------------------------------- Clearside Biomedical, Inc. submitted a First Amended Combined Disclosure Statement and Chapter 11 Plan of Reorganization dated April 30, 2026. The Debtor proposes this Combined Disclosure Statement and Plan pursuant to sections 1125 and 1129 of the Bankruptcy Code for, among other things, the reorganization of the Debtor pursuant to the Restructuring Transactions with the Plan Sponsor. In accordance with the Bidding Procedures and the Bidding Procedures and Sale Motion, on December 17, 2025, the Debtor filed a notice designating Health Ocean Pharma (Eye) Limited as the stalking horse bidder (the "Stalking Horse Bidder") pursuant to the terms of the binding term sheet (the "Stalking Horse Term Sheet"). By the bid deadline, the Debtor received six bids for the sale of its Assets, including a plan sponsor bid (the "Charlestown Plan Sponsor Bid") from Charlestown Capital Advisors, LLC, a member of the Ad Hoc Group, designed to preserve the Debtor's Tax Attributes. Prior to the Auction, the Debtor determined, in consultation with its advisors, that the Charlestown Plan Sponsor Bid and four other Bids it received for the sale of the Debtor's Assets were deemed to be Qualified Bids. Ultimately, after weeks of arms'-length and good faith negotiations, on March 11, 2026, the Debtor and HCR entered into the HCR Settlement Agreement resolving the Disputes between the Debtor and HCR, as set forth therein, and the Debtor filed the HCR Settlement Motion. Pursuant to the HCR Settlement Agreement, the Debtor agreed, among other things, to (a) bifurcate the Auction for the sale of the Excess Royalties from the sale of the Debtor's other Assets, (b) from the proceeds of the sale of the Excess Royalties and the Clearside Royalty Equity, (i) fund Clearside Royalty with $1.5 million on account of the Royalty Holdback under the HCR Settlement Agreement and (ii) pay HCR up to $1.5 million for HCR's professional fees and expenses on account of the Indemnity Claim under the HCR Settlement Agreement. In exchange, HCR agreed to withdraw with prejudice the HCR Claim, and to waive the right to assert the HCR Credit Bid and Change of Control under the HCR Transaction Documents. On March 23, 2026, the Bankruptcy Court entered an order (the "HCR Settlement Order") approving the HCR Settlement Agreement. The HCR Settlement Agreement is appended to the HCR Settlement Order as Exhibit 1 thereto. Following the Excess Royalties Auction, the Debtor solicited revised bids for the Debtor's remaining Assets, including the Clearside Royalty Equity, CLS-AX, and any other remaining Assets. The Stalking Horse Bidder submitted a revised bid (the "Health Ocean Bid") that, unlike its Stalking Horse Bid that contemplated a sale of substantially all of the Debtor's assets, included the Clearside Royalty Equity, CLS-AX, and certain molecules (the "Remaining Assets"), and excluded certain other Assets (the "Retained Assets") critical to the Plan Sponsor's proposed reorganization, which Retained Assets will be retained by the Reorganized Debtor. Class 3 consists of General Unsecured Claims. On or about the Effective Date, each Holder of an Allowed General Unsecured Claim shall receive, on account of and in full and complete settlement, release and discharge of, and in exchange for its Allowed General Unsecured Claim, either (i) payment of its Allowed General Unsecured Claim in full in Cash, or (ii) such other treatment as to which the Reorganized Debtor and the Holder of such Allowed General Unsecured Claim shall have agreed upon in writing. Class 4 consists of the Existing Common Stock. On the Effective Date, all Existing Common Stock shall be canceled, released, and extinguished nd shall be of no further force or effect, whether surrendered for cancellation or otherwise. Notwithstanding such cancellation, in full and final satisfaction, settlement, release, and discharge of such Existing Common Stock, Holders of Allowed Existing Common Stock shall be entitled to receive (i) their Pro Rata share of the Class A Common Stock to be issued and outstanding pursuant to this Combined Disclosure Statement and Plan and (ii) their Pro Rata share of the Class A Cash Distribution Amount. The Holders of Class A Common Stock are expected to control 20% of the voting rights in the Reorganized Debtor, on a fully diluted basis. Class 5 consists of the Contingent Equity Interests. On the Effective Date, all Contingent Equity Interests shall be canceled, released, and extinguished, and shall be of no further force or effect, whether surrendered for cancellation or otherwise, and shall not receive a Distribution under this Combined Disclosure Statement and Plan. Class 5 is Impaired by this Combined Disclosure Statement and Plan. The Debtor and the Reorganized Debtor, as applicable, shall fund distributions under this Combined Disclosure Statement and Plan with (a) the proceeds from the Sale Transactions, (b) New Equity Interests, and (c) the Claims Reserve. The issuance, distribution, or authorization, as applicable or as described in the Plan Sponsor Term Sheet, of the New Equity Interests will be exempt from SEC registration to the fullest extent permitted by Law. A full-text copy of the First Amended Combined Disclosure Statement and Plan dated April 30, 2026 is available at https://urlcurt.com/u?l=qONslW from Epiq Corporate Restructuring, LLC, claims agent. Co-Counsel to the Debtor: RICHARDS, LAYTON & FINGER, P.A. Daniel J. DeFranceschi, Esq. Michael J. Merchant, Esq. Alexander R. Steiger, Esq. One Rodney Square 920 N. King Street Wilmington, Delaware 19801 Telephone: (302) 651-7700 Emails: defranceschi@rlf.com merchant@rlf.com steiger@rlf.com Co-Counsel to the Debtor: COOLEY LLP Daniel Shamah, Esq. Lauren A. Reichardt, Esq. Olya Antle, Esq. Miriam Peguero Medrano, Esq. 55 Hudson Yards New York, NY 10001-2157 Telephone: (212) 479-6000 Emails: dshamah@cooley.com lreichardt@cooley.com oantle@cooley.com mpegueromedrano@cooley.com About Clearside Biomedical Inc. Clearside Biomedical, Inc., is a biopharmaceutical firm specializing in the development and commercialization of treatments for eye diseases. Clearside Biomedical Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 25-12109) on Nov. 23, 2025. In its petition, the Debtor estimated assets of up to $10 million and estimated liabilities of up to $100 million. The Debtor tapped Cooley LLP and Richards, Layton & Finger, PA as counsel; Epiq Corporate Restructuring, LLC as administrative advisor; and Berkeley Research Group, LLC as financial advisor. CLIFFORD HARTFORD: Seeks to Tap Neubert Pepe & Monteith as Counsel ------------------------------------------------------------------ Clifford Hartford, LLC seeks approval from the U.S. Bankruptcy Court for the District of Connecticut to employ Neubert, Pepe & Monteith, PC as counsel. The firm will render these services: (a) advise the Debtor of its rights, powers, and duties continuing to operate and manage its business and property; (b) advise the Debtor concerning, and assist in the negotiation and documentation of, financing agreements, debt restructuring, and related transactions; (c) review the nature and validity of any liens asserted against the property of the Debtor, and advise the Debtor concerning the enforceability of such liens; (d) advise the Debtor concerning the actions that it might take to collect and to recover property for the benefit of its estate; (e) prepare on the Debtor's behalf necessary and appropriate legal documents, and review all financial and other reports to be filed in this Chapter 11 case; (f) advise the Debtor concerning, and prepare legal papers which may be filed and served in this Chapter 11 case; (g) counsel the Debtor in connection with the formulation, negotiation, and prosecution of a plan of reorganization and related documents; and (h) perform all other legal services for and on behalf of the Debtor which may be necessary or appropriate in the administration of this Chapter 11 case. The firm received a retainer of $20,000 from the Debtor. Douglas Skalka, Esq., an attorney at Neubert, Pepe & Monteith, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Douglas S. Skalka, Esq. Neubert, Pepe & Monteith, PC 195 Church Street, 13th Floor New Haven, CT 06510 Telephone: (203) 821-2000 Email: dskalka@npmlaw.com About Clifford Hartford LLC Clifford Hartford, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Conn. Case No. 26-20329) on April 5, 2026, listing under $1 million in both assets and liabilities. Douglas S. Skalka, Esq., at Neubert, Pepe & Monteith, PC serves as the Debtor's counsel. CLNA HOLDINGS: UCC Public Sale Scheduled for May 12 --------------------------------------------------- LCO Holdings LLC ("Lender"), as lender to CLNA Holdings, LLC, a Delaware limited liability company, Cree Lighting USA LLC, a Delaware limited lability company, E-Conolight LLC, a Delaware limited liability company, and Cree Lighting Canada Corp, a corporation organized under the laws of the Province of Nova Scotia (each a "Borrower" and collectively, the "Borrowers") intends to offer to sell, or cause to be sold, at a public sale (the "Sale") conducted pursuant to Article 9 of the Uniform Commercial Code, as enacted in the State of Ohio (the "Code") and in accordance with bid procedures provided to qualified bidders (the "Bid Procedures), the Sale Assets. The Sale will occur on Tuesday, May 12, 2026 (Eastern), via videoconference beginning at 12:00 p.m. (prevailing Eastern Standard Time). The Sale Assets may be sold in individual lots, in combination lots, or as a whole, as Lender may determine in its discretion. "Sale Assets" means all properties, rights, titles and interests of every and nature, owned, licensed or leased by each Borrower that Lender has security interests in and are capable of being conveyed pursuant to the Code, whether tangible or intangible, real or personal and wherever located and by whomever possessed, including without limitation, all Accounts, Inventory, Equipment and Fixtures, General Intangibles, Payment Intangibles, Deposit Accounts and Goods, and Chattel Paper (each as defined in the Code), and intellectual property (including patents, trademarks and license rights) as well as the equity interests in Cree Lighting USA LLC, E-Conolight LLC, and Cree Lighting Canada Corp. Borrowers are in default of their obligations under that certain Amended and Restated Loan Agreement, dated as of November 13, 2025, as amended, modified, supplemented, and restated from time to time, the "Financing Agreement"), by and among Lender, Borrowers and the other Guarantors (as each is defined in the Financing Agreement), and (ii) the other Loan Documents (as defined in the Financing Agreement. Lender has been granted a continuing, first-priority security interest in the Sale Assets to secure Borrowers’ obligations under the Financing Agreement and/or other Loan Documents. Pursuant to Section 9-617 of the Code, the Sale Assets sold at the Sale will be sold free and clear of Lender's liens and any subordinate security interests, but subject to any senior liens. Lender reserves the right to withdraw any or all Sale Assets from the Sale and to cancel or adjourn the Sale at any time without notice, except as announced at or prior to the Sale. Lender reserves the right to bid all or a portion of the obligations due and owing under the Financing Agreement and/or Loan Documents on some or all of the Sale Assets or any lot thereof at the Public Sale auction as provided for under the Code. THE SALE ASSETS ARE AND WILL 8E OFFER FOR PURCHASE ON "AS IS, WHERE IS" BASIS, WITH ALL FAULTS, ANDWITHOUT ANY RECOURSE, REPRESENTATION, GUARANTEE, OR WARRANTY OF ANY KIND OR NATURE WHATSOEVER, WHETHER EXPRESS, IMPLIED, OR STATUTORY, INCLUDING WITHOUT LIMITATION ANY WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, QUIET ENJOYMENT, TITLE, OR POSSESSION. The Sale is subject to the Bid Procedures. Prospective bidders may bid on individual lots, combination lots, or all Sale Assets as a whole. Prospective bidders must enter into a confidentiality agreement prior to receiving any due diligence materials or the Bid Procedures or participating in the Sale. Potential bidders must contact Candlewood Partners, Attn: Rishi Agarwal at ra@candlewoodpartners.com or (216) 472-6662, for the confidentiality agreement, the Bidding Procedures, and access to due diligence materials. COGHLAN PLANTING: Taps Law Offices of Geno and Steiskal as Counsel ------------------------------------------------------------------ Coghlan Planting Company seeks approval from the U.S. Bankruptcy Court for the Southern District of Mississippi to hire the Law Offices of Geno and Steiskal, PLLC to serve as legal counsel. The firm will provide these services: (a) advise and consult with the Debtor-in-Possession regarding questions arising from certain contract negotiations which will occur during the operation of business by the Debtor-in-Possession; (b) evaluate and attack claims of various creditors who may assert security interests in the assets and who may seek to disturb the continued operation of the business; (c) appear in, prosecute, or defend suits and proceedings, and to take all necessary and proper steps and other matters and things involved in or connected with the affairs of the estate of the Debtor; (d) represent the Debtor in court hearings and to assist in the preparation of contracts, reports, accounts, petitions, applications, orders and other papers and documents as may be necessary in this proceeding; (e) advise and consult with Debtor in connection with any reorganization plan which may be proposed in this proceeding and any matters concerning Debtor which arise out of or follow the acceptance or consummation of such reorganization or its rejection; and (f) perform such other legal services on behalf of Debtor as they become necessary in this proceeding. The Law Firm will be compensated at these hourly rates: -- Craig M. Geno at $450 per hour, plus expenses -- Christopher J. Steiskal, Sr. at $375 per hour, plus expenses -- Paralegals at $250 per hour, plus expenses The Debtor has paid a retainer of $11,800, which includes the $1,738 filing fee, less pre-petition time, to be applied to fees and expenses in this case. The Law Offices of Geno and Steiskal, PLLC is a "disinterested person" and represents no interests adverse to the Debtor or its estate, according to court filings. The firm can be reached at: Craig M. Geno, Esq. Christopher J. Steiskal, Sr., Esq. LAW OFFICES OF GENO AND STEISKAL, PLLC 601 Renaissance Way, Suite A Ridgeland, MS 39157 Telephone: (601) 427-0048 Facsimile: (601) 427-0050 E-mail: cmgeno@cmgenolaw.com csteiskal@cmgenolaw.com About Coghlan Planting Company Coghlan Planting Company sought protection under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Mississippi Case No. 26-01166-JAW) on April 27, 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 Jamie A. Wilson oversees the case. Law Offices of Geno and Steiskal, PLLC is Debtor's legal counsel. COMMERCIAL VEHICLE: S&P Affirms 'B-' ICR, Outlook Negative ---------------------------------------------------------- S&P Global Ratings affirmed its 'B-' rating on the company because S&P expects free operating cash flow (FOCF) will weaken in 2026 and 2027 as S&P Global Ratings-adjusted debt to EBITDA is about 4x. S&P said, "The negative outlook reflects the risk that we could lower the rating on CVG over the next 12 months if the company's liquidity significantly deteriorates such that we believe it faces heightened liquidity risk or we believe the capital structure could become unsustainable." Demand for CVG's products and services remains weak due to soft class 8 vehicle production and slower ramp up of program awards in its electrical systems segment. The affirmation reflects improved financial flexibility in a weak demand environment. CVG has taken some structural costs out of the business and made progress toward improving the balance sheet through debt repayment over the last several quarters. S&P said, "That said, absent material uplift in commercial vehicle production, we believe it will be challenged to generate positive cash flows over time. Accordingly, we would likely need to observe sustained improvement in class 8 production volumes and positive FOCF to take a positive rating action." Improvement of North American class 8 vehicle production remains uncertain. S&P said, "We expect modest improvement in 2026. Moreover CVG's growth will also be supported by wire harness deliveries on the Zoox platform. We forecast total revenue grows 2%-4% in 2026 as S&P Global Ratings-adjusted EBITDA margin improves to 5%-6%." Excess trucking capacity has exited the market in recent quarters (reflected in higher trucking spot rates and contract rates). This could act as a catalyst for freight carriers to reinvest in their fleet, thereby leading to higher commercial vehicle production (which would support demand for CVG's product offering) over the next few years. However, geopolitical uncertainty could further delay expenditures (and therefore delay demand for CVG's products). S&P believes more meaningful improvement in class 8 production is unlikely before 2028. CVG's liquidity could weaken as it invests to meet expected production increases over the next few years. While recent liquidity pressure somewhat eased after its 2025 refinancing and debt repayment, CVG relied on working capital to generate positive FOCF of $34 million in 2025. CVG's sale lease-back, completed in the first quarter (using proceeds toward debt repayment) also improves liquidity somewhat. S&P said, "However, we believe cash flows could weaken as it invests in inventory and manufacturing capacity to meet demand for the anticipated class 8 vehicle production improvement and ramping of awards in the global electrical systems (GES) segment over the next few years. Accordingly, we forecast modestly positive FOCF in 2026 and negative FOCF in 2027. Liquidity could weaken beyond current expectations if working capital outflows increase which could coincide with recent working capital inflows (primarily from stronger accounts receivable collections) unwinding. We continue to monitor CVG's ability to manage working capital effectively as end-market demand firms up. "We believe CVG faces some execution risk if class 8 production and recent award wins in the GES segment are delayed, hindering leverage improvement. CVG ended 2025 with S&P Global Ratings-adjusted debt to EBITDA at 4.9x. We expect leverage will be about 4x in 2026." Supply chain disruption and raw material inflation could reduce CVG's ability to meet available demand from customers. Leverage improvement in the near term is supported by recent cost rightsizing actions, incremental demand improvement in class 8 production, and wire harness deliveries for a recent award win (Zoox). S&P notes CVG has struggled to sustain wire harness deliveries across several platforms in its GES segment in recent years. Therefore, if award wins do not ramp as expected (since 2023, wire harness deliveries on several platforms did not ramp to meet the full contract value due to lower-than-expected electric vehicle production) or class 8 production is further delayed, leverage would likely increase beyond our current forecast. S&P said, "The negative outlook reflects the risk that we could lower the rating on CVG over the next 12 months if the company's liquidity significantly deteriorates such that we believe it faces heightened liquidity risk or we believe the capital structure could become unsustainable. "We could lower our rating if CVG's EBITDA margin remains flat over the next 12 months or working capital needs increase beyond our expectations, causing FOCF deficits for multiple quarters such that liquidity deteriorates, increasing the risk of a future funding shortfall." This could occur if: -- North American class 8 production worsens beyond current expectations over the next few years; -- Demand from CVG's customers in construction and agriculture remains weak; or -- CVG is unable to realize the full benefit of recent business restructuring efforts due to continued operating inefficiencies or amplified supply chain disruption. S&P said, "We could revise our outlook to stable if EBITDA margins improve such that the company can generate at least break-even FOCF on a sustained basis and we see a path to further improvement absent working capital inflows." CONNECTICUT HEALTHCARE: Gets Temporary Chapter 15 Asset Protection ------------------------------------------------------------------ Ben Zigterman of Law360 Bankruptcy Authority reports that a U.S. bankruptcy judge on Thursday, May 7, 2026, granted interim relief to Connecticut Healthcare Insurance Co., a Cayman Islands insurance entity affiliated with bankrupt hospital chain Prospect Medical Holdings, as it pursues recognition of its Cayman wind-up proceedings. The proceedings reportedly involve roughly $26 million tied to the insurer’s estate. According to court documents, the company sought Chapter 15 protection in the United States to support the Cayman liquidation and safeguard assets from creditor enforcement actions. The provisional order temporarily halts collection efforts and preserves the status quo until the court determines whether to formally recognize the foreign proceeding. Prospect Medical Holdings, which owns and operates hospitals and medical facilities throughout the U.S., has faced significant financial challenges in recent years. Connecticut Healthcare Insurance Co., indirectly controlled by Prospect, said the interim protections are necessary to ensure an orderly administration of the insurer’s assets during the cross-border insolvency case, the report states. About Connecticut Healthcare Insurance Co. Connecticut Healthcare Insurance Company is a healthcare insurance carrier engaged in offering medical coverage and related insurance products. The company supports policyholders through health benefit programs, claims administration, and managed healthcare services across its markets. Connecticut Healthcare Insurance Co. sought relief under Chapter 15 of the U.S. Bankruptcy Code (Bankr. N.D. Tex. Case No. 26-32010) on May 5, 2026. Honorable Bankruptcy Judge Stacey G. Jernigan handles the case. The Debtor is represented by Vienna Flores Anaya, Esq. of Jackson Walker LLP. CONTROLLED CHAOS: Case Summary & 20 Largest Unsecured Creditors --------------------------------------------------------------- Debtor: Controlled Chaos Energy Services, LLC 53962 High Ridge Road Bellaire, OH 43906 Business Description: Controlled Chaos Energy Services is a Bellaire, Ohio-based energy-services and transportation company that provides trucking, brine-water hauling and field-support services for oil-and-gas operations in Ohio, West Virginia and Pennsylvania. The company operates a fleet of heavy-duty trucks and trailers, including Peterbilt, Freightliner, Western Star, Kenworth and Mack vehicles, and serves energy-sector customers that require transportation and related oilfield logistics support. Chapter 11 Petition Date: May 6, 2026 Court: United States Bankruptcy Court Northern District of West Virginia Case No.: 26-00331 Judge: Hon. David L Bissett Debtor's Counsel: Ryan W. Johnson, Esq. JOHNSON LEGAL SERVICES, PLLC 1049 Market Street Wheeling, WV 26003 Tel: (304) 212-4950x102 Fax: (304) 212-4496 E-mail: ryanjohnson@johnsonlegalservicespllc.com Total Assets: $581,137 Total Liabilities: $1,302,384 The petition was signed by Frederick A. Lang, IV as 100% owner. 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/KQMHHMY/Controlled_Chaos_Energy_Services__wvnbke-26-00331__0001.0.pdf?mcid=tGE4TAMA CORP GROUP: Mediation Not Appropriate in Saieh v Itau Dispute ------------------------------------------------------------- Magistrate Judge Christopher J. Burke of the U.S. District Court for the District of Delaware determined that mediation is not appropriate in the appeal styled ALVARO JOSE SAIEH BENDECK, Appellant, v. ITAU UNIBANCO, S.A. and AFFILIATES, Appellee, Case No. 26-cv-00429-JLH (D. Del.) pursuant to Section 1 of the Procedures to Govern Mediation of Appeals from the U.S. Bankruptcy Court for the District of Delaware, dated July 19, 2023. The magistrate judge recommends that the assigned district judge issue an order withdrawing the matter from mediation and setting the following appellate briefing schedule (agreed to by the parties): 1. Appellant's opening brief must be filed within 30 days after the filing of the designation of the record on appeal. 2. Appellees' answering brief must be filed within 30 days after service of Appellant's opening brief. 3. Appellant's reply brief must be filed within 14 days after service of Appellees' answering brief. Itau Unibanco has accused Saieh of transferring assets to family members to avoid paying debts, including approximately $27 million allegedly owed to the bank. Saieh is challenging a court order which determined that the CGB bankruptcy plan did not release his personal guarantee. SAIEH is a Colombian businessan and chairman of CorpGroup, a conglomerate with investments in the financial, retail, real estate, hotel, and media business. About Corp Group Banking S.A. Corp Group Banking SA, a Chilean financial holding company controlled by billionaire Alvaro Saieh, and Inversiones CG Financial Chile Dos SpA filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code (Bankr. D. Del. Lead Case No. 21-10969) on June 25, 2021. At the time of the filing, Corp Group Banking disclosed $500 million to $1 billion in assets and $1 billion to $10 billion in liabilities. Judge J. Kate Stickles oversees the cases. The Debtors tapped Simpson Thacher & Bartlett, LLP and Young Conaway Stargatt & Taylor, LLP as legal counsel.Â Â Prime Clerk, LLC is the Debtors' claims and noticing agent and administrative advisor. The U.S. Trustee for Region 3 appointed an official committee of unsecured creditors on July 20, 2021. The committee tapped Morgan, Lewis & Bockius, LLP as lead bankruptcy counsel, Robinson & Cole LLP as Delaware counsel, and NLD Abogados as special Chilean counsel. FTI Consulting, Inc., serves as the committee's financial advisor. COURTESY SCREENING: Gets OK to Hire Lemon Law Group as Counsel -------------------------------------------------------------- Courtesy Screening, Inc. received approval from the U.S. Bankruptcy Court for the Middle District of Florida to employ Lemon Law Group Partners PLC as special counsel. The firm will represent the Debtor in connection with pursuing claims for damages as to a defective vehicle on a contingency fee basis. The firm will be paid at these hourly rates: Attorneys $275 - $400 Paralegals $175 Mark Barnett, Esq., an attorney at Lemon Law Group Partners, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Mark Barnett, Esq. Lemon Law Group Partners PLC 3323 NE 163rd Street, Suite 301 North Miami Beach, FL 33160 Telephone: (888) 415-0610 Facsimile: (888) 809-7010 Email: info@lemonlawgrouppartners.com About Courtesy Screening Inc. Courtesy Screening, Inc., operates throughout Central and Northern Florida and constructs and repairs pools and patio enclosures as well as installing pavers. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 26-00277) on January 23, 2026, with $100,001 to $500,000 in assets and $500,001 to $1 million in liabilities. Judge Jacob A. Brown presides over the case. Scott A. Stichter, Esq. at Stichter, Riedel, Blain & Postler, PA represents the Debtor as counsel. DEL MONTE: Bankruptcy Leads to Widespread Peach Tree Removal ------------------------------------------------------------ Anthony Thompson of USA TODAY reports that California peach growers are set to remove around 420,000 clingstone peach trees after the collapse of a decades-long supply agreement with Del Monte Foods eliminated a key market for their harvest. The breakdown has left farmers with no buyers for significant volumes of fruit that were previously contracted for processing. The lost partnership has resulted in a surplus of clingstone peaches, a crop primarily used for canned fruit production, with tens of thousands of tons now lacking commercial demand. Farmers say the absence of processing contracts has made continued production financially unsustainable, the report relays. The large-scale orchard removals reflect broader challenges facing California’s peach industry, including shrinking industrial demand and increased pressure on long-established supply chains. Growers describe the development as a turning point that could reshape the state’s clingstone peach production for years to come, USA Today reports. About Del Monte Foods Corporation II Inc. Founded in 1886 and headquartered in Walnut Creek, California, the Del Monte business has been a cornerstone of American grocery stores for more than 130 years. Del Monte Foods has been driven by its mission to nourish families with earth's goodness. As the original plant-based food company, Del Monte is always innovating to make nutritious and delicious foods more accessible to consumers across its portfolio of beloved brands, including Del Monte, Contadina, College Inn, Kitchen Basics, JOYBA, Take Root Organics and S&W. On the Web: http://www.delmontefoods.com/or http://www.joyba.com/ On July 1, 2025, Del Monte Foods Corporation II, Inc. and 17 affiliated debtors filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code (Bankr. D.N.J. Lead Case No. 25-16984) to address $1.235 billion in funded debt obligations. At the time of the filing, the Debtors listed $1 billion to $10 billion in both assets and liabilities. Judge Michael B. Kaplan presides over the case. The Debtors tapped Herbert Smith Freehills Kramer (US), LLP and Cole Schotz P.C. as legal counsel; Jonathan Goulding, managing director at Alvarez & Marsal North America, LLC, as chief restructuring officer; and Stretto, Inc. as claims and noticing agent. The U.S. Trustee for Regions 3 and 9 appointed an official committee to represent unsecured creditors. The committee hired Morrison & Foerster LLP as counsel; Province, LLC as financial advisor; Kelley Drye & Warren LLP as co-counsel; and Stifel, Nicolaus & Co., Inc. as investment banker. DEMAR INSTALADORA: Seeks Chapter 15 Amid Pemex Payment Troubles --------------------------------------------------------------- Emily Lever of Law360 Bankruptcy Authority reports that DEMAR Instaladora y Constructora S.A. de C.V., a Mexican offshore oil rig contractor, has filed a Chapter 15 petition in Texas seeking recognition of its ongoing bankruptcy proceeding in Mexico. The company said its financial condition deteriorated following cash flow problems, delayed customer payments and broader instability in the energy market. The company specializes in offshore construction, pipeline installation and maintenance services for the oil and gas industry and has worked extensively on projects connected to PEMEX operations. According to court documents, DEMAR struggled under mounting liabilities after project disruptions and payment collection issues strained its ability to maintain operations and service debt obligations, the report states. The company told the Texas bankruptcy court that recognition of the Mexican proceeding is necessary to prevent creditor actions in the United States and support an orderly restructuring process. DEMAR said Chapter 15 relief would help preserve asset value and facilitate coordination between the Mexican insolvency case and any U.S.-based claims or stakeholders, according to Law360. About DEMAR Instaladora y Constructora SA de CV DEMAR Instaladora y Constructora S.A. de C.V. is an energy infrastructure and construction company based in Mexico that focuses on engineering, procurement, construction and maintenance services for the petroleum industry. Established in 1990, the company supports both offshore and land-based oil and gas projects and is recognized as a contractor for PEMEX operations. DEMAR Instaladora y Constructora SA de CV sought relief under Chapter 15 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 26-90523) on May 6, 2026. Honorable Bankruptcy Judge Christopher M. Lopez handles the case. The Debtor is represented by Juan Jose Mendoza, Esq. of Sequor Law, PA. DENVER SPRING: Hires Folkstead Fazekas as Special Counsel --------------------------------------------------------- Denver Spring & Suspension, Inc. seeks approval from the U.S. Bankruptcy Court for the District of Colorado to employ Folkstead Fazekas Barrick Patoile & James, P.C. as special counsel. The firm will provide these services: (a) give the Debtor and Debtor-in-Possession legal advice with respect to general corporate matters in these proceedings; (b) perform legal analysis and develop strategy related to corporate matters and potential litigation; (c) provide legal services in connection with litigation matters, including potential claims against Fenix Capital Funding, LLC; (d) handle existing and ongoing litigation matters, including defense of litigation and settlement negotiations; and (e) perform other necessary legal services related to the Debtor's business and Chapter 11 case. Mr. Hupf will be compensated at an hourly rate of $385. Folkstead Fazekas Barrick Patoile & James, P.C. will also seek reimbursement of reasonable and necessary expenses, subject to Bankruptcy Court approval and applicable fee procedures. The firm represents that it is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code and has no adverse interests or conflicts with the Debtor, creditors, or other parties in interest. The firm can be reached at: Michael Hupf, Esq. FOLKESTAD FAZEKAS BARRICK PATOILE & JAMES, P.C. 18 S. Wilcox St., STE 200 Castle Rock, CO 80104 Telephone: (402) 507-0334 E-mail: mphupf@gmail.com About Denver Spring & Suspension Denver Spring & Suspension filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. D. Colo. Case No. 26-12159) on April 1, 2026, listing up to $50,000 in assets and $500,001 to $1 million in liabilities. Judge Thomas B Mcnamara presides over the case. Keri L. Riley, Esq. at Kutner Brinen Dickey Riley, P.C serves as the Debtor's counsel. DEQSER LLC: Committee Hires RK Consultants as Financial Advisor --------------------------------------------------------------- The official committee of unsecured creditors appointed in the Chapter 11 cases of Deqser LLC and KNY 26671 LLC seeks approval from the U.S. Bankruptcy Court for the District of Delaware to employ RK Consultants LLC as financial advisor. The firm's services include: (a) analyze the financial operations of the Debtors pre- and post-petition, as necessary; (b) analyze the financial ramifications of any proposed transactions for which the Debtors see Bankruptcy Court approval; (c) conduct any requested financial analysis; (d) assist the committee in its review of monthly financial statements of operations submitted by the Debtors; (e) assist the committee in its evaluation of cash flow and/or other projections; (f) scrutinize cash disbursements on an on-going basis for the period subsequent to the commencement of the case; (g) perform forensic investigating services, as requested by the committee and counsel, regarding pre-petition activities of the Debtors in order to identify potential causes of action; (h) analyze transactions with insiders, related and/or affiliated companies; (i) analyze transactions with the Debtors' financial institutions; (j) attend meetings and conferences calls with representatives of the creditor groups and their counsel; (k) assist the committee in its review of the financial aspects of a plan of reorganization or liquidation and perform any related analyses; (l) perform services necessary to preserve and maximize the value of the assets of the Debtors' estate, as requested by the committee. The firm will be paid at these hourly rates: Brian Ryniker, Member $550 Junior Professionals $150 In addition, the firm will seek reimbursement for expenses incurred. Mr. Ryniker disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Brian Ryniker RK Consultants LLC 1178 Broadway New York, NY 10001 About Deqser LLC Deqser LLC is a business entity associated with Cooperative Laundry, a commercial laundry service based in Kearny, New Jersey. Operating from a state-of-the-art facility, the company supports the hospitality industry with advanced, eco-efficient laundry solutions. Deqser sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Del. Case No. 25-10687) on April 10, 2025. The Debtor estimated assets and liabilities of $1 million to $10 million. The Hon. Craig T. Goldblatt presides over the case. The Debtor's general bankruptcy counsel is Mayerson & Hartheimer, PLLC and its local bankruptcy counsel is Gellert Seitz Busenkell & Brown, LLC. KCP Advisory Group LLC serves as financial advisor. On April 30, 2025, the Office of the United States Trustee for the District of Delaware appointed an official committee of unsecured creditors in these Chapter 11 cases. The committee tapped Fox Rothschild as counsel and RK Consultants LLC as financial advisor. DIAMOND ELITE: Seeks Chapter 11 Bankruptcy in New York ------------------------------------------------------ On May 6, 2026, Diamond Elite Albuquerque LLC filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the Southern District of New York. According to court filings, the debtor reports between $10 million and $50 million in debt owed to between 1 and 49 creditors. A meeting of creditors under Section 341(a) to be held on June 8, 2026 at 12:30 PM at Zoom.us - USTrustee 4: Meeting ID 161 9371 8283, Passcode 4427423184, Phone 1 (202) 804-6344. About Diamond Elite Albuquerque LLC Diamond Elite Albuquerque LLC is a privately held company believed to be involved in hospitality, lodging or real estate investment operations in Albuquerque, New Mexico. Diamond Elite Albuquerque LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-35494) on May 6, 2026. In its petition, the debtor reported estimated assets between $10 million and $50 million and estimated liabilities between $10 million and $50 million. Honorable Bankruptcy Judge Kyu Young Paek handles the case. The debtor is represented by Mitchell J. Canter, Esq. of the Law Offices Of Mitchell J. Canter. DIOCESE OF NORWICH: Resolves Abuse Coverage Dispute with Travelers ------------------------------------------------------------------ Danielle Ferguson of Law360 Bankruptcy Authority reports that the Norwich Roman Catholic Diocesan Corp., currently in Chapter 11 bankruptcy, has settled a Connecticut state court coverage dispute with an insurer it accused of improperly abandoning its defense obligations in sexual abuse litigation. The resolution ends a lawsuit centered on insurance coverage for claims asserted against the diocese. According to court records, the diocese argued the insurer wrongfully denied or discontinued defense coverage tied to lawsuits alleging clergy sexual abuse. The parties notified the court that they had reached a negotiated settlement, avoiding further litigation over the insurer’s responsibilities under the relevant policies. The diocese entered bankruptcy to manage mounting abuse-related claims and establish a framework for compensating survivors. Resolving the insurance dispute may help streamline the bankruptcy proceedings by clarifying available insurance recoveries and limiting additional legal expenses tied to the coverage fight, the report states. About The Norwich Roman Catholic Diocesan Corporation The Norwich Roman Catholic Diocesan Corporation is a nonprofit corporation that gives endowments to parishes, schools, and other organizations in the Diocese of Norwich, a Latin Church ecclesiastical territory or diocese of the Catholic Church in Connecticut and a small part of New York. The Norwich Roman Catholic Diocesan Corporation sought Chapter 11 protection (Bankr. D. Conn. Case No. 21-20687) on July 15, 2021. The Debtor estimated $10 million to $50 million in assets against liabilities of more than $50 million. Judge James J. Tancredi oversees the case. The Debtor tapped Ice Miller, LLP, Robinson & Cole, LLP and Gellert Scali Busenkell & Brown, LLC as bankruptcy counsel, Connecticut counsel and special counsel, respectively. Epiq Corporate Restructuring, LLC is the claims and noticing agent. On July 29, 2021, the U.S. Trustee for Region 2 appointed an official committee of unsecured creditors in the Chapter 11 case. The committee tapped Zeisler & Zeisler, PC as its legal counsel. DR DELICACY: Gets Interim OK to Use Cash Collateral --------------------------------------------------- DR Delicacy, LLC received interim approval from the U.S. Bankruptcy Court for the Southern District of Texas, Houston Division, to use cash collateral. The Debtor lacks sufficient funds outside of its cash collateral to maintain operations, making use of the cash collateral necessary to avoid operational disruption and loss of estate value. Under the interim order, the Debtor is authorized to access cash collateral to pay the expenses set forth in its budget pending the final hearing on May 27. The U.S. Small Business Administration and several other secured lenders including financial institutions and alternative financing companies may hold liens on the Debtor's inventory, accounts, and other assets. As protection for the Debtor's use of its cash collateral, the SBA will receive $2,500 monthly, beginning May 23. In addition, the SBA and other secured lenders will retain the same liens, encumbrances and security interests in the cash collateral generated after the Debtor's bankruptcy filing. A copy of the order is available at https://is.gd/FLfDjS from PacerMonitor.com. About DR Delicacy LLC DR Delicacy, LLC, a company based in Houston, operates a gourmet food retail and distribution business specializing in luxury culinary ingredients, including caviar, truffles, specialty mushrooms, foie gras, and related pantry items sourced from domestic and international suppliers. The company serves chefs, restaurants, and individual consumers through its online platform and warehouse store, offering seasonal products and curated selections for high-end dining and gifting. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 26-32815) on April 23, 2026. In the petition signed by Diane Roederer, sole member, the Debtor disclosed up to $1 million in assets and up to $10 million in liabilities. Judge Jeffrey P. Norman oversees the case. Reese Baker, Esq., at Baker & Associates, represents the Debtor as legal counsel. DRIFTWOOD YOGA: Unsecureds to Get 4 Cents on Dollar in Plan ----------------------------------------------------------- Driftwood Yoga, Spa & Boutique, Inc. filed with the U.S. Bankruptcy Court for the Western District of North Carolina a Plan of Reorganization for Small Business dated April 28, 2026. The Debtor is a North Carolina corporation that operates as a spa and yoga studio with its primary place of business located near Lake Norman in Denver, North Carolina. The Debtor targets a wide range of consumers in the Charlotte and Lake Norman areas to fill the need for a luxury spa and wellness experience. The Debtor corporation was founded in February of 2023 and opened its doors in April of 2024. Although the Debtor's gross income was steadily growing each month prior to the Petition Date, the Debtor's debt obligations simply became too overwhelming and were the predominant reason for the Debtor filing this Bankruptcy Case. The Plan Proponent's financial projections show that the Debtor will have projected disposable income of $105,223.22 . The final Plan payment is expected to be paid on June 1, 2029. This Plan of Reorganization proposes to pay creditors of the Debtor from cash flow from operations. Non-priority unsecured creditors holding allowed claims will receive distributions, which the proponent of this Plan has valued at approximately 4 cents on the dollar. This Plan also provides for the payment of secured, administrative expense and priority claims. Class 4 consists of Non-priority unsecured creditors. Non-priority unsecured creditors holding allowed claims will receive distributions, which the proponent of this Plan has valued at approximately 4 cents on the dollar of such claimants' total allowed claim amounts. Holders of non-priority unsecured creditors shall receive their pro rata share of the class distribution. The Debtor may issue distributions to this class at an interval in its discretion but no less frequently than once annually. This Class is impaired. Class 5 consists of the insider claim held by Jacqueline Regalado, an insider of the Debtor. The Class 5 claim is subordinated to all other unsecured claims pursuant to Section 510(c) of the Bankruptcy Code and shall receive no distribution under this Plan. Class 6 consists of Equity security holders of the Debtor. Jaqueline Regalado will retain her equity interest in the Debtor. Ms. Regalado will not be authorized to receive a distribution during the 36-month period following the Effective Date. For the avoidance of doubt, this provision shall not operate to prevent Ms. Regalado from continuing to receive compensation for her work/services rendered for the Debtor. The Plan contemplates that Plan payments will be made from cash on hand on the Effective Date and from post-confirmation net income. The Debtor has established a budget conducive to the Debtor's continuing operations and support of the payment stream proposed in this case. A full-text copy of the Plan of Reorganization dated April 28, 2026 is available at https://urlcurt.com/u?l=dNscvl from PacerMonitor.com at no charge. Counsel for the Debtor: Matthew A. Winer, Esq. HAMILTON STEPHENS STEELE + MARTIN, PLLC 525 North Tryon Street, Suite 1400 Charlotte, NC 28202 Tel: (704) 344-1117 Email: mwiner@lawhssm.com About Driftwood Yoga, Spa & Boutique Driftwood Yoga, Spa & Boutique, Inc. operates a wellness studio in Denver, North Carolina, providing spa treatments, yoga classes, and related boutique products. Driftwood Yoga, Spa & Boutique, Inc. filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. W.D.N.C. Case No. 26-40021) on Jan. 29, 2026, listing $50,000 to $100,000 in assets and $1 million to $10 million in liabilities. The petition was signed by Jacqueline Regalado as president. Judge Ashley Austin Edwards presides over the case. Matthew A. Winer, at HAMILTON STEPHENS STEELE + MARIN, PLLC, serves as the Debtor's counsel. DUSTED77 FINE: Gets Interim OK to Use Cash Collateral ----------------------------------------------------- Dusted77 Fine Minerals, LLC received interim approval from the U.S. Bankruptcy Court for the District of Colorado to use cash collateral to fund operations. Under the interim order, the Debtor is authorized to use cash collateral in accordance with its budget, effective retroactively to April 30. The order restricts the Debtor's use of cash collateral to the approved budget, permitting deviations on line-item expenses of no more than 15% unless creditors consent or the court approves otherwise. As protection for creditors claiming interests in the cash collateral, the Debtor agreed to grant post-petition replacement liens on all post-petition accounts receivable and income generated from business operations to the extent the use of cash collateral diminishes the value of creditors' collateral. The replacement liens will maintain the same relative priority as the creditors' pre-petition liens. The Debtor will also maintain all collateral in good repair and keep it fully insured throughout the case. The order is available at https://is.gd/QSyjZg from PacerMonitor.com. A final hearing is scheduled for June 1. Dusted77, a Colorado-based company specializing in selling mineral specimens, filed for Chapter 11 relief on April 29 and continues operating as a debtor-in-possession. Its primary assets include inventory valued at approximately $167,125, about $33,221 in a bank account, and proceeds from ongoing sales, all of which constitute cash collateral potentially encumbered by multiple secured creditors. Several lenders assert security interests in the Debtor's assets and cash collateral, including the U.S. Small Business Administration, JPMorgan Chase (which holds a senior lien due to subordination), and a PayPal-related lender (Swift Financial). These creditors are owed substantial amounts, and their liens extend to the Debtor's cash and proceeds from inventory sales. About Dusted77 Fine Minerals LLC Dusted77 Fine Minerals, LLC is a Colorado-based company specializing in selling mineral specimens. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Colo. Case No. 26-13000-KHT) on April 29, 2026. In the petition signed by Scott Maller, member, the Debtor disclosed up to $500,000 in assets and up to $1 million in liabilities. Judge Kimberly H. Tyson oversees the case. Lacey Bryan, Esq., at Markus Williams LLC, represents the Debtor as legal counsel. ESTHER SCHOOL: Court Extends Cash Collateral Access to June 11 -------------------------------------------------------------- Esther School, Inc. received another extension from the U.S. Bankruptcy Court for the Middle District of Florida, Tampa Division, to use cash collateral. At the recently held hearing, the court extended the Debtor's interim authority to use cash collateral through June 11 to fund its operations. The Debtor was initially authorized to access cash collateral under the court's April 21 interim order. That authorization expired on May 4. The initial order approved the payment of up to $115,000 in operating expenses from the cash collateral in accordance with the Debtor's budget and approximately $300,000 for the May payroll. As protection, secured creditors were granted replacement liens on the Debtor's post-petition assets. Founded in 2005 by Esther Berry, Esther School has served over 1,400 students and has a longstanding reputation for educational success, but its management has historically lacked financial sophistication, which contributed to recent financial difficulties. In 2025, in an effort to address cash flow issues, an individual associated with the Debtor obtained a series of predatory merchant cash advance loans totaling approximately $1.44 million from seven lenders, with interest rates ranging from 75% to 351% APR. These loans, which were primarily used to repay prior advances, resulted in collection actions in New York and Florida, prompting the Board of Directors to become aware of the financial and legal risks only in January 2026. While the Debtor disputes the enforceability of the MCA loans under Florida law, it acknowledges that several other creditors may hold legitimate secured claims in the cash collateral, including the U.S. Small Business Administration ($455,000), First-Citizens Bank & Trust Company ($396,596), BankFlorida ($2,198,398), and 968 W Veterans Realty, LLC ($65,000). About Esther School Inc. Esther School, Inc. operates a faith-based primary school in New Port Richey, Pasco County, Florida. Esther School sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 26-02746) on April 3, 2026, listing up to $10 million in both assets and liabilities. Natasha Griffin, president, signed the petition. Judge Roberta A. Colton oversees the case. John A. Anthony, Esq., at Anthony and Partners, LLC, represent the Debtor as legal counsel. FARMERS COOPERATIVE: Final Cash Collateral Hearing Set for May 15 ----------------------------------------------------------------- The U.S. Bankruptcy Court for the Northern District of Texas, Abilene Division, is set to hold a final hearing on May 15 to consider the motion filed by Farmers Cooperative Gin of Anson, Texas to use cash collateral. The Debtor's authority to use cash collateral under the court's May 6 interim order expires on May 15. The interim order approved the payment of expenses from the cash collateral in accordance with the Debtor's budget and granted CoBank ACB, the Debtor's secured creditor, replacement lien on all of the Debtor's assets, with the same validity, priority and extent as its pre-petition liens. The order is available at https://is.gd/VC8izy from PacerMonitor.com. The Debtor is a cotton gin cooperative serving roughly 46 farmer-patrons, operating both a cotton processing gin and a farm supply store in Anson, Texas. Its business processes cotton from local producers, converting raw cotton into baled fiber for USDA classification and market sale, while also supplying agricultural inputs through its retail farm store. The The Debtor's continued operations depend on liquidity to fund payroll, utilities, inventory, maintenance, and other operating expenses. CoBank is listed as the primary secured creditor, holding a first lien on substantially all assets including real estate, accounts receivable, inventory, equipment, and rolling stock, supporting a debt of approximately $645,000 against collateral valued at about $1.5 million. The U.S. Small Business Administration holds a second lien securing a disaster loan of roughly $414,800, while Cotton Country Electric, Inc. holds a significant unsecured judgment claim of approximately $600,800. As of the petition date, the Debtor reported total cash and receivables of about $422,343, all of which are subject to CoBank's lien and thus constitute cash collateral. About Farmers Cooperative Gin of Anson, Texas Farmers Cooperative Gin of Anson, Texas is a cotton gin cooperative, operating both a cotton processing gin and a farm supply store in Anson, Texas. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Tex. Case No. 26-10109-11) on April 23, 2026. In the petition signed by Mike Polk, manager, the Debtor disclosed up to $10 million in assets and up to $1 million in liabilities. David R. Langston, Esq., at Mullin Hoard & Brown, LLP, represents the Debtor as legal counsel. FARMERS COOPERATIVE: To Employ Mullin Hoard & Brown as Counsel -------------------------------------------------------------- Farmers Cooperative Gin of Anson, Texas seeks approval from the U.S. Bankruptcy Court for the Northern District of Texas to employ Mullin Hoard & Brown, LLP as counsel. The firm will provide these services: (a) prepare all motions, reports, notices, orders and legal papers necessary to comply with the requisites of the United States Bankruptcy Code and Bankruptcy Rules; (b) counsel with the Debtors regarding preparation of Operating Reports; Motions for Use of Cash Collateral; and development of a Chapter 11 Plan; and (c) provide all other legal services ordinarily associated with a bankruptcy case. Mullin Hoard & Brown, LLP disclosed that it charges $225 to $590 per hour for partners' and associates' time, and $125 to $225 per hour for paralegals' time. The firm also requested a $25,000 evergreen retainer intended to maintain a minimum balance in the firm's trust account throughout the engagement. Mullin Hoard & Brown, LLP is a "disinterested" firm and does not represent or hold any interest adverse to the Debtor with respect to the matters on which they are to be employed, according to court filings. The firm can be reached at: David R. Langston, Esq. MULLIN HOARD & BROWN, L.L.P. P.O. Box 2585 Lubbock, TX 79408-2585 Telephone: (806) 765-7491 Facsimile: (806) 765-0553 E-mail: drl@mhba.com About Farmers Cooperative Gin of Anson, Texas Farmers Cooperative Gin of Anson, Texas sought protection under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Tex. Case No. 26-10109) on April 23, 2026. At the time of the filing, Debtor had estimated assets of between $1,000,001 and $10 million and liabilities of between $500,001 and $1 million. MULLIN HOARD & BROWN, L.L.P. is Debtor's legal counsel. FIRST BRANDS: Examiner Faces Funding Shortage as Fraud Probe Grows ------------------------------------------------------------------ Angelica Serrano-Roman of Bloomberg Law reports that the examiner overseeing the bankruptcy investigation of auto parts supplier First Brands says his office is rapidly running out of money as a global fraud inquiry expands. In court filings, examiner Martin De Luca warned that the existing $7 million budget is no longer sufficient to complete the investigation. De Luca told the U.S. Bankruptcy Court for the Southern District of Texas that costs have climbed by more than $2 million as the probe uncovered additional evidence requiring broader international review. The examiner said investigators have had to pursue extensive forensic work and analyze transactions spanning multiple jurisdictions. Without additional funding, the examiner said he may either suspend work before issuing a completed report or continue the investigation despite uncertainty surrounding payment for additional professional fees and expenses. The emergency motion seeks court guidance and potentially expanded resources for the inquiry. The investigation centers on allegations that a wider fraud scheme may have contributed to the downfall of First Brands. Stakeholders in the bankruptcy proceedings are closely monitoring the probe because its findings could influence potential litigation, creditor recoveries and future claims against involved parties, the report states. About First Brands Group Rochester Hills, Mich.-based First Brands Group, LLC is a global supplier of aftermarket automotive parts. On September 24, 2025, the Company's non-operational special purpose entities, Global Assets LLC, Global Lease Assets Holdings, LLC, Carnaby Capital Holdings, LLC, Broad Street Financial Holdings, LLC, Broad Street Financial, LLC, Carnaby Inventory II, LLC, Carnaby Inventory Holdings II, LLC, Carnaby Inventory III, LLC, Carnaby Inventory Holdings III, LLC, Patterson Inventory, LLC, Patterson Inventory Holdings, LLC, Starlight Inventory I, LLC and Starlight Inventory Holdings I, LLC each filed a voluntary petition for relief under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of Texas. Commencing on September 28, 2025, First Brands Group, LLC and 98 affiliated debtors each filed a voluntary petition for relief under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of Texas. In its petition, First Brands Group listed $1 billion to $10 billion in estimated assets and $10 billion to $50 billion in estimated liabilities. The cases are pending before the Hon. Christopher M. Lopez, and are jointly administered under Case No. 25-90399, and consolidated for procedural purposes only. The Debtors tapped Weil, Gotshal and Manges, LLP as legal counsel; Lazard Freres & Co. as investment banker; Alvarez & Marsal North America, LLC as financial advisor; and C Street Advisory Group as strategic communications advisor. Kroll Restructuring Administration, LLC is the Debtors' claims, noticing and solicitation agent. Gibson, Dunn & Crutcher, LLP and Evercore serve as the Ad Hoc Group of Lenders' legal counsel and investment banker, respectively. The U.S. Trustee for Region 7 appointed an official committee to represent unsecured creditors in the Debtors' Chapter 11 cases. FIRST BRANDS: Unsecureds to Get Share of Litigation Trust Interests ------------------------------------------------------------------- Premier Marketing Group LLC, a debtor affiliate of First Brands Group, LLC, filed with the U.S. Bankruptcy Court for the Southern District of Texas a Disclosure Statement for Chapter 11 Plan dated April 29, 2026. First Brands was formed in 2013 under the name Crowne Industrial Group by the Company's Founder. Headquartered in Cleveland, Ohio, First Brands was a leading supplier of aftermarket parts. First Brands' key product categories included brakes, filters, wipers, lights, pumps, and towing solutions. On January 29, 2026, the Debtors initiated a consensual mediation process overseen by the Honorable Judge Marvin Isgur to address, among other things, a case resolution. Following months of mediation, the Debtors, the Ad Hoc Group, and the Creditors' Committee reached a settlement in principle regarding the terms of the orderly wind down of the Debtors' estates through a chapter 11 plan and other transactions (the "Global Settlement"). The Debtors, the Ad Hoc Group, and the Creditors' Committee continue to work towards resolving a few open issues and finalizing the terms of the Global Settlement, which will be set forth in the Definitive Documents. Therefore, although the Plan only treats claims and interests asserted against the Plan Debtor (which the Debtors believe are limited to secured claims asserted by the DIP Secured Parties, Term Loan Lenders, and the ABL Secured Parties, and unsecured claims of the Pension Benefit Guarantee Corporation), the Global Settlement provides for a structure to (i) monetize all of the FBG Debtors' remaining assets and (ii) allocate recoveries on Estate Claims among creditors in accordance with an agreed waterfall without litigation. Among other things, the Global Settlement contemplates a series of transactions that provide for the transfer of the FBG Debtors' assets into various trusts to be monetized for the benefit of the FBG Debtors' creditors, including: * a credit bid by the DIP Secured Parties (the "Estate Claims Credit Bid") for the transfer of all Estate Claims of the FBG Debtors (the "Litigation Trust Assets") to the Plan Debtor and subsequent transfer of such Estate Claims to a trust (the "Litigation Trust") that will prosecute and monetize such Estate Claims for the benefit of creditors of the FBG Debtors (including administrative, priority, and general unsecured creditors of the FBG Debtors); * a credit bid by the DIP Secured Parties (the "DIP Collateral Credit Bid") for the transfer of other DIP Collateral to be set forth in a schedule filed as part of the Plan Supplement (the "DIP Collateral Trust Assets") to the Plan Debtor and subsequent transfer of such DIP Collateral Trust Assets to a trust for the benefit of the DIP Secured Parties (the "DIP Collateral Trust"); and * a consensual foreclosure by the ABL Secured Parties of the ABL Priority Collateral to be set forth in a schedule filed as part of the Plan Supplement (the "ABL Collateral Trust Assets") and subsequent transfer of such ABL Collateral Trust Assets to a trust for the benefit of the ABL Secured Parties (the "ABL Collateral Trust"). The Litigation Trust will be funded with at least $75 million, including (i) $25 million of cash from the FBG Debtors’ balance sheet, (ii) $50 million of new committed funding provided by certain holders of DIP A Claims (i.e., the Litigation Trust Funding Contributors), and (iii) additional funding up to an amount and on terms to be disclosed to the Bankruptcy Court. Proceeds from the monetization of the Litigation Trust Assets will be distributed in accordance with the agreed waterfall (the "Litigation Trust Waterfall"). On the Effective Date, the Litigation Trust will be established in accordance with the Litigation Trust Agreement for the purpose of being vested with and liquidating the Litigation Trust Assets and making distributions to the Litigation Trust Beneficiaries. The Litigation Trust will be managed by the Litigation Trustee, whose identity will be disclosed in the Plan Supplement, under the supervision of the Litigation Trust Oversight Committee, which initially will be comprised of four members, including three members appointed by certain members of the Ad Hoc Group and one member appointed by the Creditors' Committee (the "UCC Member"). Pursuant to the Litigation Trust Agreement, (i) certain approval rights shall be delegated to the Litigation Trustee, (ii) the Litigation Trust Oversight Committee shall retain the right to approve certain other decisions ("Major Decisions"), and (iii) certain other decisions shall require the affirmative vote of the UCC Member ("Sacred Rights"). The scope of the Major Decisions and Sacred Rights will be set forth in the Litigation Trust Agreement, which will be filed with the Plan Supplement. The Litigation Trust Assets will primarily consist of all Claims and Causes of Action of the FBG Debtors' estates (i.e., the Estate Claims). The Estate Claims include the Claims and Causes of Action asserted by the FBG Debtors in the James Complaint and Onset Complaint, as well as certain additional Claims and Causes of Action of the FBG Debtors. The Litigation Trust will be funded by (i) $25,000,000 in Cash from the FBG Debtors' balance sheet, (ii) $50,000,000 of Litigation Trust Funding Commitments provided by the Litigation Trust Funding Contributors pursuant to the Litigation Trust Agreement, and (iii) additional funding up to an amount and on terms to be disclosed to the Bankruptcy Court. These funds will be available to pay the costs of administering the Litigation Trust and monetizing the Litigation Trust Assets, including costs associated with prosecuting, settling, or otherwise disposing of the Estate Claims. Class 7 consists of General Unsecured Claims. Except to the extent that a holder of an Allowed General Unsecured Claim against the Plan Debtor agrees to less favorable treatment of such Claim, in full and final settlement, release, and discharge of such Allowed General Unsecured Claim, each such holder shall receive its Pro Rata Share of the Class 3(b) Litigation Trust Interests. The allowed unsecured claims total $5,600,000,000. This Class is impaired. On the date that the Plan Debtor's Chapter 11 Case is closed, and without the need for any further corporate or limited liability company action or approval of any members, board of managers, managers, management, or Interest holders of the Plan Debtor, all Plan Debtor Interests shall be cancelled, and each such holder will not receive any distributions on account of such Interests unless and until any Allowed Claims for which the Plan Debtor has a continuing obligation to pay following the Effective Date are satisfied in full, in which case each holder of a Plan Debtor Interest will receive its Pro Rata Share of any residual distributable value of the Plan Debtor. On January 5, 2025, the Debtors, with assistance from Lazard, commenced a marketing and sale process for all of their assets, including the equity interests in non-Debtor subsidiaries (the "Sale Process"). As a result of outreach performed by Lazard to over 350 potentially interested parties, over 190 potential buyers executed confidentiality agreements and received access to a virtual dataroom containing technical, commercial, and financial information regarding the Debtors' assets and business units. On January 8, 2026, the Debtors filed the Emergency Motion of Debtors for Order (I) Approving (A) Bidding Procedures for Sale of Assets of the Debtors, (B) Form and Manner of Notice of Sale, Auction, and Sale Hearing, and (C) Assumption and Assignment Procedures, (II) Authorizing Designation of Stalking Horse Bidders, (III) Scheduling Auction and Sale Hearing, and (IV) Granting Related Relief (the "Bidding Procedures Motion"), which sought Court approval of auction procedures for the Sale Process, including (i) authorizing the designation of stalking horse bidders, (ii) scheduling auctions and sale hearings, and (iii) approving procedures for the assumption and assignment of contracts, among other relief. By February 5, 2026, the Debtors had received approximately 40 non-binding indications of interest ("IOIs") spanning several of their business units, which included 25 potentially actionable going concern IOIs from various bidders. In light of the Debtors' limited liquidity runway and the terms of the OEM Funding Order, the Debtors engaged with potential bidders with respect to diligence questions, transaction parameters, the terms of the proposed sale transactions, and definitive documentation for the same. A full-text copy of the Disclosure Statement dated April 29, 2026 is available at is https://urlcurt.com/u?l=YQ4nTZf from Kroll Restructuring Administration, claims agent. The Debtor's Counsel: Clifford W. Carlson, Esq. Gabriel A. Morgan, Esq. WEIL, GOTSHAL & MANGES LLP 700 Louisiana Street, Suite 3700 Houston, Texas 77002 Tel: (713) 546-5000 Fax: (713) 224-9511 Email: clifford.carlson@weil.com gabe.morgan@weil.com - and - Matthew S. Barr, Esq. Sunny Singh, Esq. Andriana Georgallas, Esq. Kevin Bostel, Esq. Jason H. George, Esq. WEIL, GOTSHAL & MANGES LLP 767 Fifth Avenue New York, New York 10153 Tel: (212) 310-8000 Fax: (212) 310-8007 Email: matt.barr@weil.com sunny.singh@weil.com andriana.georgallas@weil.com kevin.bostel@weil.com jason.george@weil.com About First Brands Group First Brands Group, LLC, is a global supplier of aftermarket automotive parts, based in Rochester Hills, Michigan. On September 24, 2025, the Company's non-operational special purpose entities, Global Assets LLC, Global Lease Assets Holdings, LLC, Carnaby Capital Holdings, LLC, Broad Street Financial Holdings, LLC, Broad Street Financial, LLC, Carnaby Inventory II, LLC, Carnaby Inventory Holdings II, LLC, Carnaby Inventory III, LLC, Carnaby Inventory Holdings III, LLC, Patterson Inventory, LLC, Patterson Inventory Holdings, LLC, Starlight Inventory I, LLC and Starlight Inventory Holdings I, LLC each filed a voluntary petition for relief under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of Texas. Commencing on Sept. 28, 2025, First Brands Group, LLC and 98 affiliated debtors each filed a voluntary petition for relief under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of Texas. In its petition, First Brands Group listed $1 billion to $10 billion in estimated assets and $10 billion to $50 billion in estimated liabilities. The cases are pending before the Hon. Christopher M. Lopez, and are jointly administered under Case No. 25-90399, and consolidated for procedural purposes only. The Debtors tapped Weil, Gotshal and Manges, LLP as legal counsel; Lazard Freres & Co. as investment banker; Alvarez & Marsal North America, LLC as financial advisor; and C Street Advisory Group as strategic communications advisor. Kroll Restructuring Administration, LLC is the Debtors' claims, noticing and solicitation agent. Gibson, Dunn & Crutcher, LLP and Evercore serve as the Ad Hoc Group of Lenders' legal counsel and investment banker, respectively. The U.S. Trustee for Region 7 appointed an official committee to represent unsecured creditors in the Debtors' Chapter 11 cases. The Committee has hired M3 Advisory Partners, LP, as Financial Advisor; Cole Schotz P.C. as Efficiency and Local Counsel; and Brown Rudnick LLP as Co-Counsel. The U.S. Trustee has proposed Martin De Luca, Esq., at Boies Schiller Flexner LLP as Chapter 11 examiner. FLEXSHOPPER INC: Creditors to Get Proceeds From Liquidation ----------------------------------------------------------- FlexShopper, Inc., and its affiliates filed with the U.S. Bankruptcy Court for the District of Delaware a Combined Disclosure Statement and Plan of Liquidation dated April 30, 2026. FlexShopper was a financial technology company that provided transparent and competitive payment options to consumers via lease-purchase solutions and loans. FlexShopper enabled consumers utilizing its e-commerce marketplace to shop for brand name electronics, home furnishings, and other durable goods on a lease-to-own ("LTO") basis. FlexShopper was granted various patents beginning in 2018. These patents were for a range of systems, including one that enabled e-commerce servers to complete LTO transactions through their e-commerce websites and one that enabled retailer devices to complete LTO transactions through their retailer web pages, as well as systems that further enable consumer devices to modify received retailer web pages to indicate LTO payments in association with transaction-eligible products as part of LTO transactions through the retailer web pages. The Debtors filed these chapter 11 cases to pursue a sale of all or substantially all their Assets with the goal of maximizing the recovery for their Estates and creditors. To that end, on the Petition Date, the Debtors filed the Sale Motion and crafted detailed marketing materials and a comprehensive financial model to provide to potentially interested purchasers. Attached as Exhibit 1 to the proposed bidding procedures order filed with the Sale Motion were the Debtors' proposed bidding procedures. Between the Petition Date and January 21, 2026, the Debtors negotiated with ReadySett, LLC (the "Purchaser") and the Committee to improve the terms of the asset purchase agreement and the proposed Bidding Procedures Order. On January 21, 2026, the Bankruptcy Court entered the Bidding Procedures Order granting certain of the relief sought in the Sale Motion, including, among other things, (a) approving the bidding procedures, which established the key dates and times related to the Sale and auction, (b) approving assumption procedures, and (c) authorizing the Debtors' entry into and performance under the Asset Purchase Agreement. The Bidding Procedures Order also established a bid deadline of February 6, 2026. On February 12, 2026, the Bankruptcy Court entered the Sale Order. Following entry of the Sale Order, the Debtors and Purchaser entered into the TSA. Pursuant to the TSA, the Debtors agreed to maintain and provide for the Purchaser's benefit, solely at the Purchaser's cost and expense, the benefits of the rights of and services provided to the Debtors under such contracts during the transition period. The Sale to the Purchaser closed on March 3, 2026. At Closing, the Sale Proceeds provided $8,563,700 in cash to the Estates. Following the Sale of substantially all the Debtors' Assets to the Purchaser, the Debtors are focused principally on winding down their Estates. The Liquidating Trust Assets consist of Cash and Retained Causes of Action. This Plan provides for the Liquidating Trust Assets to be distributed to Holders of Allowed Claims in accordance with the terms of the Plan. Class 4A consists of FlexShopper, Inc. General Unsecured Claims. Except to the extent that the Holder of an Allowed Claim in Class 4A agrees to different treatment, each Holder of an Allowed Claim in Class 4A shall receive in full and final satisfaction, settlement, and release of and in exchange for its Allowed Class 4A Claim, its Pro Rata share of Cash proceeds of the FlexShopper, Inc. Assets. Class 4B consists of FlexShopper, LLC General Unsecured Claims. Except to the extent that the Holder of an Allowed Claim in Class 4B agrees to different treatment, each Holder of an Allowed Claim in Class 4B shall receive in full and final satisfaction, settlement, and release of and in exchange for its Allowed Class 4B Claim, its Pro Rata share of Cash proceeds of the FlexShopper, LLC Assets. Class 4C consists of the Other Debtor General Unsecured Claims. Except to the extent that the Holder of an Allowed Claim in Class 4C agrees to different treatment, each Holder of an Allowed Claim in Class 4C shall receive in full and final satisfaction, settlement, and release of and in exchange for its Allowed Class 4C Claim, its Pro Rata share of Cash proceeds of the Other Debtor Assets. Class 6 consists of Equity Interests. On the Effective Date, all Equity Interests shall be cancelled, and each Holder of an Equity Interest in FlexShopper, Inc. shall receive no Distributions Pursuant to the Plan. Distributions under the Plan shall be funded from Cash on hand, including the proceeds of liquidating any Liquidating Trust Assets. The Liquidating Trust shall be established and shall become effective on the Effective Date. Upon the occurrence of the Effective Date, (a) the members of each Debtor's Board of Directors or managers, as the case may be, shall be deemed to have resigned; and (b) the Liquidating Trust Assets shall be transferred to the Liquidating Trust in accordance with this Plan. Upon transfer of the Liquidating Trust Assets, the Debtors shall have no further duties or responsibilities in connection with the implementation of this Plan. A full-text copy of the Combined Disclosure Statement and Plan dated April 30, 2026 is available at https://urlcurt.com/u?l=aMYgyR from Epiq Corporate Restructuring LLC, claims agent. Counsel to the Debtors: Robert J. Dehney, Sr., Esq. Matthew O. Talmo, Esq. Sophie Rogers Churchill, Esq. Luke Brzozowski, Esq. Liam Davis, Esq. 1201 N. Market Street, 16th Floor Wilmington, Delaware 19801 Telephone: (302) 658-9200 Facsimile: (302) 658-3989 Email: rdehney@morrisnichols.com mtalmo@morrisnichols.com srchurchill@morrisnichols.com lbrzozowski@morrisnichols.com ldavis@morrisnichols.com About FlexShopper Inc. FlexShopper, Inc., provides consumer financing services focused on lease-to-own and lending products, enabling consumers to obtain durable goods such as electronics and home furnishings through its e-commerce marketplace. It operates as an intermediary by approving consumers through a proprietary underwriting model, purchasing goods from merchant and other supply partners, and leasing them to end users, while also offering consumer loan products through affiliated platforms and third-party arrangements. FlexShopper and its affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bank. D. Del. Lead Case No. 25-12254) on Dec. 22, 2025. In the petition signed by CRO Matthew Doheny, FlexShopper listed $50 million to $100 million in assets and $100 million to $500 million in liabilities. The Honorable Bankruptcy Judge Laurie Selber Silverstein handles the cases. The Debtors tapped Morris, Nichols, Arsht & Tunnell LLP as counsel; Glassratner Advisory & Capital Group, LLC as financial advisor; Two Roads Advisors LLC as investment banker; and Epiq Corporate Restructuring LLC as claims and noticing agent. GENESIS HEALTHCARE: Court Flips Ch. 11 Stay Blocking Insider Suit ----------------------------------------------------------------- James Nani of Bloomberg Law reports that a federal judge has reversed a bankruptcy court order that extended automatic stay protections to affiliates of Genesis Healthcare Inc., ruling that wrongful death and injury lawsuits should not have been paused without required procedural safeguards. The decision marks a setback for efforts to shield non-debtor entities from litigation during bankruptcy proceedings. Bankruptcy Judge Stacey Jernigan had temporarily blocked claims against Genesis’ related entities, expanding the reach of the company's bankruptcy protection beyond the debtor itself. The move halted several personal injury and wrongful death suits tied to the nursing home operator's affiliates, the report states. US District Judge Jane J. Boyle of the Northern District of Texas ruled in a May 1 opinion that the bankruptcy court failed to follow mandatory safeguard procedures before extending the stay. Boyle said the protections were improperly granted to third parties that were not themselves in bankruptcy. The district court overturned the extension of the stay and remanded the matter back to the US Bankruptcy Court for further proceedings, narrowing the scope of protection available to Genesis affiliates, Bloomberg reports. About Genesis Healthcare Inc. Based in Culver City, Calif., Genesis Healthcare Inc. is a medical group that provides physician services in Southern California. Genesis Healthcare has operated under the names Daehan Prospect Medical Group and Prospect Genesis Healthcare. Genesis Healthcare Inc. and several affiliated debtors sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Tex. Lead Case 25-80185) on July 9, 2025. In its petition, Genesis Healthcare Inc. listed between $1 billion and $10 billion in estimated assets and liabilities. The Hon. Bankruptcy Judge Stacey G. Jernigan handles the jointly administered cases. The Debtors employed McDermott Will & Schulte LLP as counsel; Jefferies LLC as investment banker; and Ankura Consulting Group, LLC, as restructuring advisors, and designated Louis E. Robichaux IV and Russell A. Perry as co-chief restructuring officers. Katten Muchin Rosenman LLP serves as special counsel at the sole direction of Jonathan Foster and Elizabeth LaPuma in their capacity as independent directors and members of the special investigation committee. The U.S. Trustee appointed an official committee of unsecured creditors in the Chapter 11 cases of Genesis Healthcare Inc. and affiliates. The committee retained Proskauer Rose LLP and Stinson LLP as its co-counsel; FTI Consulting, Inc., as its financial advisors; and Houlihan Lokey Capital, Inc. as its investment banker. GEORGE REALTY: To Sell Bedford Property to Shane Holman ------------------------------------------------------- Georges Realty, LLC seeks approval from the U.S. Bankruptcy Court for the District of New Hampshire, to sell Property, free and clear of liens, claims, interests, and encumbrances. The Debtor's Property is located at 32 Old Bedford Road, Bedford, New Hampshire. The Debtor wants to sell the Property to Shane Holman for the sum of $630,000, increased or decreased by adjustments and pro-rations made thereto. The Debtor sought and obtained an expedited hearing date from the Court of May 14, 2026 at 9:00 a.m. pursuant to LBR 9013-1(b) and (e) and served a notice of that hearing date with the Motion. The Debtor is a New Hampshire limited liability company formed to engage in the business of buying, developing and improving and selling real estate. Debtor has been engaged in the business of buying, selling and investing in real estate for many years. Debtor purchased the Subject Property with the intention of renovating the subject property and selling it in the ordinary course of business. In Debtor's business judgment based on Debtor's years of experience, the Contract is fair to Debtor and the estate in all respects, including the proposed Purchase Price which is reasonably equivalent to the fair value of the Subject Property under the circumstances. After Debtor purchased the Subject Property and entered into a joint venture agreement with Chris Bourdon. Debtor never conveyed the Subject Property to the Joint Venture or recorded the joint venture agreement. As a result, title remains in Debtor. After Debtor renovated the Property, Broker Kara and Co. – Real Broker NH, LLC and Mauri Spencer listed the Subject Property for sale at $639,998 based on their knowledge of the Subject Property and the local real estate market. The lienholders of the Property are The Town of Bedford, New Hampshire, Westmount Financial Limited Partnership, AJ Pro Green Insulation, Valentin Realty, LLC and Richard Valentin Guiterrez, and Chris Bourdon. The Buyer is not an insider with respect to Debtor or any person that is an insider with respect to Debtor. Except for the Contract, the parties have no business, personal or familial relationship. The Broker advertised and marketed the Subject Property actively, diligently and extensively. Broker exposed the Subject Property adequately to the market. The Debtor regularly buys and sells real estate in the ordinary course of business. Mr. Georges has used his knowledge and familiarity of the Subject Property and the market. In Debtor’s business judgment, the proposed Sale of the Subject Property on the terms set forth in the Contract furthers the best interests of the estate because it permits the estate to recover the reasonable value of the Subject Property, permits the payment of the real estate taxes due Bedford and the First in Time Westmount Mortgage. About Georges Realty, LLC Georges Realty, LLC manages and leases real estate properties across multiple locations and is classified under NAICS 5311. Georges Realty sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.N.H. Case No. 25-10779) on November 4, 2025, listing between $1 million and $10 million in assets and liabilities. William S. Gannon, Esq. at William S. Gannon PLLC represents the Debtor as legal counsel. GOODBEAR PROPERTY: Section 341(a) Meeting of Creditors on June 9 ---------------------------------------------------------------- On May 1, 2026, Goodbear Property LLC filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Northern District of New York. According to court filings, the Debtor reports between $1 million and $10 million in debt owed to between 1 and 49 creditors. A meeting of creditors under Section 341(a) to be held on June 9, 2026 at 03:00 PM at First Meeting Albany. About Goodbear Property LLC Goodbear Property LLC is a real estate holding company engaged in property ownership, investment, and management activities. The company oversees commercial and residential real estate assets as part of its property portfolio operations. Goodbear Property LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-10494) on May 1, 2026. In its petition, the Debtor reports estimated assets between $100,001 and $1 million and estimated liabilities between $1 million and $10 million. Honorable Bankruptcy Judge Patrick G. Radel handles the case. The Debtor is represented by Howard P. Magaliff, Esq. GREEN LEASING: Seeks Chapter 11 Bankruptcy in New York ------------------------------------------------------ On May 3, 2026, Green Leasing and Management, Inc. filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Western District of New York. According to court filings, the Debtor reports between $100,001 and $1 million in debt owed to between 1 and 49 creditors. About Green Leasing and Management, Inc. Green Leasing and Management, Inc. is a property leasing and management company engaged in overseeing commercial and residential real estate operations. The company provides leasing, tenant management, and property administration services. Green Leasing and Management, Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-10553) on May 3, 2026. In its petition, the Debtor reports estimated assets between $100,001 and $1 million and estimated liabilities within the same range. The case is pending in the Western District of New York bankruptcy court. The Debtor is represented by James M. Joyce, Esq. HANDLE PREFORMS: Unsecureds to Recover Between 60% to 100% in Plan ------------------------------------------------------------------ Handle Preforms, LLC, filed with the U.S. Bankruptcy Court for the Northern District of Georgia a Plan of Reorganization dated April 29, 2026. The Debtor is a Delaware limited liability company with a sole member, Gregory Kershner. Prior to filing this Bankruptcy Case, Debtor was a holding company that held licenses to use patented technology owned by DT Inventions, LLC ("DTI"). HPL Contract Packaging LLC ("HPL-CP") is a Georgia limited liability company that contracts with established domestic injection molding companies to produce Debtor's preforms on Debtor owned injection tools. HPL-CP then sells the preforms to users who own blow molders capable of producing Debtor's bottles using the Integrated Plastics patents. In September 2019, DTI and Debtor entered into a License Agreement with an effective (the "DTI License Agreement"). Under the DTI License Agreement, DTI, along with its affiliated entity Practically Impossible Labs, LLC ("PIL"), granted HPL a fifteen-year, exclusive, nontransferable license to use DTI's intellectual property ("DTI Patents") and technology to manufacture 64- and 128-fluid-ounce polyethylene terephthalate ("PET") dairy-style handled bottle preforms under DTI's "BottleOne" trademark and to sell the Preforms to dairy customers in North America. On October 24, 2025, DTI and PIL issued a Notice of Termination to Debtor, purportedly terminating the DTI License Agreement, the Term Sheet, and the DTI DNA, and all sublicenses granted by Debtor to HPL-CP and HPL-I, and demanding cessation of all Debtor's DTI License Agreement-related operations. The termination prevented Debtor from fulfilling orders for customers that required use of manufacturing machines using the DTI technology. The Debtor filed this Bankruptcy Case to reorganize its business model, to address the issues with DTI and PIL, and to pay its unsecured creditors under this Plan. Through this reorganization, Debtor is changing its business model and will exit this Bankruptcy Case as an operating entity as well as the holder of the IPPL patents. As the Reorganized Debtor, it will operate under the trade name Handle Solutions with defined licensed technology rights and a projected revenue stream to support ongoing operations and all Plan Distributions. Debtor is focused on one product category: gallon integrated-handle PET bottles. The Reorganized Debtor will focus its operations on this narrow path centered on gallon bottles. In a liquidation, no assets would be available to liquidate to pay general unsecured creditors. There are no assets available to pay unsecured creditors any Distribution. Under this Plan, the General Unsecured Creditors are being paid an estimated 60% to 100% Distribution depending on the outcome of Debtor's objections to three unliquidated claims. General Unsecured Creditors will receive more than they would receive in a Chapter 7 liquidation. This Plan deals with all property of Debtor and provides for treatment of all Claims against Debtor and its property. Class 1 shall consist of General Unsecured Claims. The Allowed Class 1 Claims shall be paid in full on a pro rata basis over five years on a quarterly basis starting on the last day of the first month of the first full quarter after the Effective Date. Debtor's Budget shows that Allowed Class 1 Claims will receive between an approximate 100% to 60% Distribution on each of their claims paid out on a quarterly basis for twenty quarters. The Distribution pro rata percentage is dependent on the Bankruptcy Court's determination of the allowance and liquidated amounts of the claims asserted by DTI, Duelge, and Lynch. Debtor's Budget shows projected disposable income as $2,814,777 over the next five years. Allowed Class 1 Claims total $255,937.23. Disputed and unliquidated Claims total $4,370,000. Class 1 is Impaired and entitled to vote to accept or reject the Plan. Class 2 shall consist of Insider Unsecured Claims. The Allowed Class 2 Claims shall be paid on a pro rata basis over five years on a quarterly basis starting on the last day of the first month of the first full quarter after the Effective Date from any projected disposable income that remains available after payment in full of Class 1 Allowed Claims. The Debtor's Budget shows that Allowed Class 1 Claims will receive 100% Distribution if the disputed and unliquidated Claims are disallowed. In that event, Class 2 will receive a pro rata share of the remaining projected disposable income on each of their claims on a quarterly basis for twenty quarters. If the disputed and unliquidated Claims are allowed in the amounts stated in the respective Proofs of Claim, Class 1 will not receive a 100% Distribution. In that event, Class 2 will not receive any Distribution under the Plan. The estimated total Claims in this Class 2 are $2,235,496.73. Class 2 is Impaired. Class 3 consists of Mr. Kershner who is the sole member of Debtor. He holds 100% of the member interest in Debtor. Upon confirmation, Debtor will be charged with administration of the Plan. Debtor will be authorized and empowered to take such actions as are required to effectuate the Plan. Debtor will file all post-confirmation reports required by the United States Trustee's office or by the Subchapter V Trustee. Debtor will also file the necessary final reports and may apply for a final decree as soon as practicable after substantial consummation and the completion of the claims analysis and objection process. The source of funds for the payments pursuant to the Plan is Debtor's continued business operations. Debtor shall pay Class 1 and Class 2 from disposable income as shown in the Budget attached as Exhibit A to this Plan and is based on projected income Debtor will receive from HPL-CP and HPL-I and from fees from third parties using injectors and molds developed by Debtor. A full-text copy of the Plan of Reorganization dated April 29, 2026 is available at https://urlcurt.com/u?l=BJnCK0 from PacerMonitor.com at no charge. Counsel to the Debtor: Ceci Christy, Esq. Rountree Leitman Klein & Geer, LLC Century Plaza I 2987 Clairmont Road, Suite 350 Atlanta, GA 30329 Telephone: (404) 584-1238 Email: cchristy@rlkglaw.com About Handle Preforms Handle Preforms, LLC, a company based in Dawsonville, Georgia, develops and commercializes PET bottle preform technology featuring an integral handle, marketed under the BottleOne brand, for the packaging industry, producing containers designed to compete with traditional HDPE jugs while improving durability and recyclability. Handle Preforms filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. N.D. Ga. Case No. 26-20125) on January 29, 2026, with between $1 million and $10 million in both assets and liabilities. Ceci Christy, Esq., at Rountree Leitman Klein & Geer, LLC represents the Debtor as legal counsel. HAPISGAH OF FLUSHING: Seeks Chapter 11 Bankruptcy in New York ------------------------------------------------------------- On May 4, 2026, Hapisgah of Flushing Inc. 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 between 1 and 49 creditors. A meeting of creditors filed by the Office of the United States Trustee under Section 341(a) to be held on June 8, 2026 at 11:00 AM at USA Toll-Free (888) 330-1716, USA Caller Paid/International Toll (713) 353-7024, Access Code 1165157. About Hapisgah of Flushing Inc. Hapisgah of Flushing Inc. is a New York-based company involved in business and property-related operations in the Flushing area. The company manages operational and financial interests associated with its commercial activities. Hapisgah of Flushing Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-42173) on May 4, 2026. In its petition, the Debtor reports estimated assets between $100,001 and $1 million and estimated liabilities between $1 million and $10 million. Honorable Bankruptcy Judge Elizabeth S. Stong handles the case. The Debtor is represented by Charles Wertman, Esq. of Law Offices Of Charles Wertman P.C. HEALING WITH CAARE: Case Summary & Five Unsecured Creditors ----------------------------------------------------------- Debtor: Healing With Caare Inc. f/d/b/a CAARE: The Healing Center d/b/a CAARE, Inc 214 Broadway St. Durham, NC 27701 Business Description: Healing With Caare Inc, doing business as CAARE, Inc., operates a substance use treatment provider in Durham, North Carolina. The organization provides outpatient and residential treatment services, including outpatient counseling, opioid treatment, intensive and comprehensive outpatient programs, DWI services, counseling, clinical assessments, case management, peer support, and recovery support services. It serves adults with substance use disorders, and its residential program serves men in recovery. Chapter 11 Petition Date: May 6, 2026 Court: United States Bankruptcy Court Middle District of North Carolina Case No.: 26-80137 Debtor's Counsel: Florence A. Bowens, Esq. FLORENCE A. BOWENS, ATTORNEY AT LAW Post Office Box 51263 Durham, NC 27717 Tel: 919-402-9700 Fax: 919-237-9215 E-mail: fbowenslaw@gmail.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $500,000 to $1 million The petition was signed by Carolyn Hinton as president and executive director. A full-text copy of the petition, which includes a list of the Debtor's five unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/F4PXZZY/Healing_With_Caare_Inc__ncmbke-26-80137__0001.0.pdf?mcid=tGE4TAMA HNO INTERNATIONAL: Signs $30-Mil. Equity Line With Lambda Ventures ------------------------------------------------------------------ HNO International Inc. announced in a regulatory filing that it entered into an Equity Purchase Agreement with Lambda Ventures LLC, a Nevada limited liability company. Pursuant to the Purchase Agreement, the Company has the right, but not the obligation, to direct the Investor to purchase up to $30,000,000 of the Company's common stock, $0.001 par value per share, over a period of up to 24 months, subject to the terms and conditions set forth in the Purchase Agreement. Under the Purchase Agreement, from time to time during the commitment period, the Company may deliver put notices to the Investor requiring the Investor to purchase shares of Common Stock, subject to certain conditions. Each put must be in a minimum amount of $25,000 and a maximum amount up to the lesser of: (i) $500,000 or (ii) 200% of the Average Daily Trading Value, each calculated using the Initial Purchase Price. The purchase price per share will be the lesser of: (i) 80% of the lowest traded price of the Common Stock on the principal trading market on the trading day immediately preceding the respective put date, or (ii) 80% of the lowest traded price of the Common Stock on the principal trading market on any trading day during the applicable valuation period. As consideration for the Investor's commitment to enter into the Purchase Agreement, the Company agreed to issue to the Investor 500,000 shares of Common Stock as initial commitment shares, which are earned in full upon execution of the Purchase Agreement. In addition, each time aggregate gross proceeds received by the Company under the Purchase Agreement increase by $2,500,000, the Company will issue additional shares of Common Stock to the Investor as a commitment fee. If the Maximum Commitment Amount is fully drawn, a total of 12 Trigger Events will have occurred. The Company also agreed to pay $10,000 to the Investor's legal counsel for expenses relating to the preparation of the Purchase Agreement. In connection with the Purchase Agreement, on April 27, 2026, the Company also entered into a Registration Rights Agreement with the Investor, pursuant to which the Company agreed to file a registration statement with the Securities and Exchange Commission within 30 calendar days from the date of the Registration Rights Agreement, covering the resale of the shares of Common Stock issuable under the Purchase Agreement, including the Initial Commitment Shares and Fulfillment Commitment. The Company is required to have the registration statement declared effective within 90 calendar days from the date of the Registration Rights Agreement. Full text copies of the Purchase Agreement and the Registration Rights Agreement are available at https://tinyurl.com/2xbu5vb5 and https://tinyurl.com/3fwsnt43. About HNO International Headquartered in Murrieta, California, HNO International, Inc., a Nevada corporation, focuses on systems engineering design, integration, and product development to generate green hydrogen-based clean energy solutions to help businesses and communities decarbonize in the near term. Cypress, Texas-based Barton CPA PLLC, the Company's auditor since 2024, issued a "going concern" qualification in its report dated February 6, 2026, attached to the Company's Annual Report on Form 10-K for the year ended October 31, 2025, citing that the Company has sustained significant losses and negative cash flows from operations and has an accumulated deficit that raises substantial doubt about its ability to continue as a going concern. As of January 31, 2026, the Company had $1,389,564 in total assets, $3,086,637 in total liabilities, and $1,697,073 in total stockholders' deficit. HO WAN KWOK: Affiliate to Sell Apartment Share to SN 18 LLC ----------------------------------------------------------- Ho Wan Kwok, and its affiliate, Genever Holdings LLC, seek approval from the U.S. bankruptcy Court for the District of Connecticut, Bridgeport Division, to sell Property, free and clear of liens, claims, interests, and encumbrances. Genever seeks to sell its 3,050 shares allocable to the 18th floor and certain auxiliary units at the Sherry Netherland building located at 781 Fifth Avenue, New York, New York 10022. Following the substantial completion of the remediation of the Apartment in August 2024 and over 20 months of extensive and diligent marketing efforts—initially by Sotheby's (Genever US' former real estate broker) and, since June 2025, by Douglas Elliman (Genever US' current real estate broker)—Genever US has secured an offer from SN 18 LLC to purchase the Apartment for a purchase price of $8 million. The Purchaser is purchasing the Apartment on an "as is" basis, and the Purchaser's obligations are not contingent upon Purchaser obtaining financing. Genever US respectfully submits that the Sale represents the highest or otherwise best offer for the Apartment and that the Sale is in the best interest of Genever US' estate and creditors. The Sherry Netherland is a cooperative apartment building located at 781 Fifth Avenue, New York, New York 10022, and The Sherry-Netherland, Inc. is the residential housing cooperative corporation that owns such property. On March 6, 2015, Genever US purchased cooperative space at the Sherr Netherland comprised of the entire 18th floor at the property as well as certain auxiliary units (namely Apartment MR 2219 and Apartment MR 719), collectively referred to as the Apartment. In connection with the transaction, Genever US and the Sherry Netherland also entered into the Agreement & Consent with Respect to Shares and Proprietary Lease, dated March 6, 2015, pursuant to which Genever US and the Sherry Netherland agreed, among other things, to permit the Individual Debtor and members of his immediate family to use the Apartment. It offers overview of the sale process prior to March 15 fire of the Apartment and the subsequent remediation. It also provides details of the material terms of the sale agreement between the Debtor and the Purchaser. As noted, under the Proprietary Leases, Genever US is obligated to pay monthly maintenance fees (including assessments) of approximately $95,000. However, starting in June 2025, after the security deposit was exhausted, Genever US began to pay such charges out-of-pocket. To date, Genever US has paid out-ofpocket an aggregate amount of over $800,000 in maintenance charges. Genever US cannot afford to keep paying $95,000 in monthly maintenance charges indefinitely. Genever US requests that the Court authorize Genever US to sell the Apartment free and clear of any liens, claims, interests, and encumbrances, but subject to the terms of the Proposed Sale Order. The Purchaser was selected by Genever US as having submitted the highest and best offer following an extensive marketing effort by Douglas Elliman and an arm's-length negotiation to reach agreement on the Sale Agreement terms following the Purchaser's offer. The Purchaser has no affiliation with Ho Wan Kwok nor is the Purchaser acting on behalf of or at the behest of Ho Wan Kwok, all as reflected in the Purchaser’s representations and warranties in the Sale Agreement. As set forth in the Sale Agreement, the Purchaser was represented by broker in connection with the purchase of the Apartment. Accordingly, and subject to the consummation of the Sale Agreement, the Brokers’ Fee to be paid from the proceeds of the Sale is $400,000.00, comprising 2% of the Purchase Price to Douglas Elliman as Genever US’s broker, and 3% of the Purchase Price to the Purchaser's broker. About Ho Wan Kwok Ho Wan Kwok sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Conn. Case No. 22-50073) on Feb. 15, 2022. Judge Julie A. Manning oversees the case. Dylan Kletter, Esq., is the Debtor's legal counsel. Ho Wan Kwok aka Guo Wengui is an exiled Chinese businessman. According to Reuters, Guo was a former real estate magnate who fled China for the U.S. in 2014 ahead of corruption charges. Guo filed for bankruptcy after a New York court ordered him to pay lender Pacific Alliance Asia Opportunity Fund $254 million stemming from a contract dispute. PAX had initially loaned two of Guo's companies $100 million in 2008 for a construction project in Beijing and sued Guo when he failed to pay off the loan. An Official Committee of Unsecured Creditors has been appointed in the case and is represented by Pullman & Comley, LLC. Luc A. Despins was appointed Chapter 11 Trustee in the case. IMPAC MORTGAGE: Seeks to Hire Verita as Claims and Noticing Agent ----------------------------------------------------------------- Impac Mortgage Holdings, Inc. and its affiliates seek approval from the U.S. Bankruptcy Court for the District of Delaware to employ Kurtzman Carson Consultants, LLC, doing business as Verita Global, as claims and noticing agent. Verita will oversee the distribution of notices and will assist in the maintenance, processing, and docketing of proofs of claim filed in the Chapter 11 cases of the Debtors. Prior to the petition date, the Debtors provided Verita a retainer in the amount of $35,000. Evan Gershbein, an executive vice president at Verita, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Evan Gershbein Kurtzman Carson Consultants, LLC 222 N. Pacific Coast Highway, 3rd Floor El Segundo, CA 90245 Telephone: (310) 823-9000 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. D. Del. 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. The Debtors tapped Dentons US LLP as bankruptcy counsel, Pachulski Stang Ziehl & Jones LLP as local counsel, and Development Specialist, Inc. as financial advisor. Kurtzman Carson Consultants, LLC is the Debtors' claims and noticing agent. INSPIRED HEALTHCARE: Seeks to Extend Plan Exclusivity to Aug. 31 ---------------------------------------------------------------- Inspired Healthcare Capital Holdings, LLC and affiliates asked the U.S. Bankruptcy Court for the Northern District of Texas to extend their exclusivity periods to file a plan of reorganization and obtain acceptance thereof to Aug. 31 and Nov. 2, 2026, respectively. This is the Debtors' first request for an extension of their Exclusive Periods and the Debtors submit that the relevant factors strongly weigh in favor of an extension of the Exclusive Periods. The Debtors explain that the Chapter 11 Cases are sufficiently large and complex to warrant the requested extension of the Exclusive Periods. There are 161 Debtors involved in the Chapter 11 Cases, which met the requirements for and were designated as complex cases. Certain of the Debtors own 33 operating senior living facilities across the United States which are home to approximately 2,620 residents. Since the Petition Date, the Debtors and their professionals have focused much of their time, energy, and resources on administering the Chapter 11 Cases in the ordinary course of business, marketing their assets for sale, and negotiating with investors and other creditors, including the Committee and DST Investor Ad Hoc Groups. The extension of the Exclusive Periods will ensure that the Debtors have a full and fair opportunity to continue to revise, amend, and file their proposed plan and disclosure statement as necessary without the distraction, cost, and delay of a competing plan process. The Debtors assert that granting the requested extensions of the Exclusive Periods will not pressure the Debtors' creditor constituencies or grant the Debtors any unfair bargaining leverage. The Debtors have no ulterior motive in seeking an extension of the Exclusive Periods, nor are they seeking an extension of the Exclusive Periods to pressure or prejudice any of their stakeholders. Rather, the Debtors are seeking an extension merely to ensure that the Debtors can pursue the resolution of the Chapter 11 Cases following the conclusion of their sale process, including by proposing, soliciting, confirming, and consummating a proposed chapter 11 plan, free from distraction or competing plan proposals. The Debtors further assert that they have obtained Court approval of debtor-in-possession financing following a contested hearing, negotiated and obtained Court approval of bid procedures following the same hearing, continue to administer value-maximizing marketing and/or sale processes for substantially all of the Debtors' assets. Accordingly, this factor weighs in favor of granting an extension of the Exclusive Periods. The Debtors believe that they have reasonable prospects for proposing, confirming, and consummating a viable chapter 11 plan. The Debtors are currently in the process of drafting a proposed chapter 11 plan and disclosure statement and intend to engage with various key stakeholders in advance of and/or following its filing with the goal of obtaining consensus across constituencies. The Debtors cite that termination of the Exclusive Periods, particularly at this stage of the Chapter 11 Cases, would adversely impact the Debtors' efforts to preserve and maximize the value of their estates and would further complicate the progression of the Chapter 11 Cases. The bid deadline, auction, and sale hearing all fall after the expiration of the Exclusive Filing Period, meaning that termination as currently contemplated will only serve to prejudice the Debtors. Moreover, such termination may disincentivize creditors from negotiating with the Debtors in connection with the proposed plan and disclosure statement. The proposal and solicitation of any competing plan would greatly complicate and increase the cost of administering the Chapter 11 Cases, further justifying the requested extension of the Exclusive Periods. Counsel for the Debtors: Marcus A. Helt, Esq. Jack G. Haake, Esq. MCDERMOTT WILL & SCHULTE LLP 2801 N. Harwood Street, Suite 2600 Dallas, Texas 75201-1574 Tel: (214) 295-8000 Fax: (972) 232-3098 Email: mhelt@mcdermottlaw.com jhaake@mcdermottlaw.com AND Daniel M. Simon, Esq. Carmen Dingman, Esq. Landon Foody, Esq. 444 West Lake Street, Suite 4000 Chicago, Illinois 60606 Tel: (312) 372-2000 Fax: (312) 984-7700 Email: dsimon@mcdermottlaw.com cdingman@mcdermottlaw.com lfoody@mcdermottlaw.com About Inspired Healthcare Capital Holdings LLC Inspired Healthcare Capital Holdings, LLC, owns senior living communities across the U.S. that provide independent living, assisted living, and memory care services. It operates in the senior housing and healthcare real estate sector, with day-to-day community operations managed by third-party operators under management agreements while the Company retains control over non-community business functions. Inspired Healthcare Capital Holdings sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Texas Lead Case No. 26-90004) on Feb. 2, 2026. In the petition signed by M. Benjamin Jones, chief restructuring officer, Inspired Healthcare Capital Holdings reported between $1 billion and $10 billion in both assets and liabilities. Judge Mark X Mullin oversees the cases. The Debtors tapped McDermott Will & Schulte, LLP as bankruptcy counsel; Ankura Consulting Group, LLC as financial advisor; Raymond James & Associates, Inc. as investment banker; and Epiq Corporate Restructuring, LLC as claims, noticing, and solicitation agent. INTEGRATED PROTEINS: Case Summary & 20 Unsecured Creditors ---------------------------------------------------------- Three affiliates that concurrently filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code: Debtor Case No. ------ -------- Integrated Proteins, LLC 26-20713 Integrated Proteins Integrated-Pro 1480 NW Vivion Road Kansas City, MO 64118 Nutrihub, LLC 26-20714 1480 NW Vivion Road Kansas City, MO 64118 HFO Logistics, LLC 26-20715 1480 NW Vivion Road Kansas City, MO 64118 Business Description: Integrated Proteins, LLC, based in Kansas City, Missouri, provides animal protein ingredients and animal meal and ingredient solutions for pet food, animal nutrition, and specialty feed applications. The company offers products including poultry by-product, poultry, meat, marine, hydrolyzed protein, specialty ingredient, animal-derived oil, and blood meal products. Integrated Proteins serves pet food manufacturers, R&D teams, nutritionists, and procurement teams globally, with team members located in Europe, South America, and the United States. Chapter 11 Petition Date: May 6, 2026 Court: United States Bankruptcy Court District of Kansas Judge: Hon. Dale L Somers Debtors' Bankruptcy Counsel: David Thomas Prelle Eron, Esq. PRELLE ERON & BAILEY, P.A. 301 N Main St Ste 2000 Wichita KS 67202-4820 Tel: (316) 262-5500 E-mail: david@eronlaw.net Integrated Proteins' Estimated Assets: $50 million to $100 million Integrated Proteins' Estimated Liabilities: $100 million to $500 million Nutrihub, LLC's Estimated Assets: $0 to $50,000 Nutrihub, LLC's Estimated Liabilities: $10 million to $50 million HFO Logistics' Estimated Assets: $1 million to $10 million HFO Logistics' Estimated Liabilities: $10 million to $50 million The petitions were signed by David R. Payne as CRO. Full-text copies of the petitions are available for free on PacerMonitor at: https://www.pacermonitor.com/view/JN2DZPQ/Nutrihub_LLC__ksbke-26-20714__0001.0.pdf?mcid=tGE4TAMA https://www.pacermonitor.com/view/OPTYSPY/Integrated_Proteins_LLC__ksbke-26-20713__0001.0.pdf?mcid=tGE4TAMA https://www.pacermonitor.com/view/J4COBZI/HFO_Logistics_LLC__ksbke-26-20715__0001.0.pdf?mcid=tGE4TAMA List of Integrated Proteins' 20 Largest Unsecured Creditors: Entity Nature of Claim Claim Amount 1. First Interstate Bank Guaranty $22,205,124 Attn Officer 401 N 31st St Billings, MT 59101 2. Kompass Kapital Funding LLC Business Loan $9,525,327 Attn Officer or Agent 9800 Metcalf Ave Overland Park, KS 66212 3. Schroeder Country Products Vendor $8,061,186 9 Leisure Lane McCook Lake, SD 57049 4. Farmers Union Industries Business Loan $6,290,325 220 Ponderosa Road Redwood Falls, MN 56283 5. Daimler Truck Financial Guaranty $4,899,776 14372 Heritage Parkway Ste 400 Fort Worth, TX 76177 6. Commodity Services Inc. Vendor $3,896,680 1501 South State St Suite 200 Fairmont, MN 56031 7. 4000 Cedar Blvd, LLC Terminated $3,486,443 Attn Matthew Reich Lease 172 S Broadway White Plains, NY 10605 8. Fiordo Austral Vendor $3,053,960 5815 Windward Pkwy Alpharetta, GA 30005 9. EN OD Capital MCA $2,791,250 1202 Avenue U Ste 1115 Brooklyn, NY 11229 10. Spring Funding FL LLC MCA $2,789,437 4601 Sheridan Street Ste 600 Hollywood, FL 33021 11. Badger Ingredients, Inc. Vendor $2,380,385 36801 N Bivouac Trail Carefree, AZ 85377 12. Seneca Trading, LLC Vendor $2,198,664 317 S. Main Street Ste 201 Findlay, OH 45840 13. NewCo Capital Group VI LLC MCA $2,100,000 333 W Commercial Street Ste 324 East Rochester, NY 14445 14. Harper Advance LLC MCA $2,025,000 243 Tresser Blvd 17th Floor Stamford, CT 06901 15. Novus Capital Funding II LLC MCA $1,370,000 Attn Officer or Agent co The LLC 54 State Street Ste 804 Albany, NY 12207 16. Bluerock Capital LLC MCA $1,350,000 Attn Officer or Agent co The LLC 1212 Avenue N Ste 3 Brooklyn, NY 11230 17. Visa Capital LLC MCA $1,250,625 co CT Corporation System UCC MO 20250806001076941 330 N Brand Blvd Glendale, CA 91203 18. American River Ag Inc Vendor $1,172,265 PO Box 4452 El Dorado Hills, CA 95762 19. Wallwork Financial Guaranty $1,037,231 PO Box 628 401 38th Street SW Fargo, ND 58107 20. Webbank - Libertas Business Loan $812,770 Funding LLC 411 West Putnam Avenue Ste 220 Greenwich, CT 06830 INTEGRATED PROTEINS: Taps David Payne of Marshall & Stevens as CRO ------------------------------------------------------------------ Integrated Proteins LLC and its affiliates seek approval from the U.S. Bankruptcy Court for the District of Kansas to employ Marshall & Stevens and its executive managing director David R. Payne to serve as chief restructuring officer. Mr. Payne will provide these services: (a) review, analyze and develop the reporting format for a 4-month lookback of cash receipts and disbursements in order to evaluate and develop a 13-Week Cash Forecast Budget; (b) work with the Companies' financial personnel to prepare a 13-Week Cash Forecast Budget; (c) institutionalize a cash management oversight system including rolling 13-week cash forecasts and budget-to-actual reporting; (d) extend the 13-week cash forecast into a longer-term restructuring and refinancing plan; (e) report material non-budgeted financial transactions affecting the Companies' financial condition; (f) develop a comprehensive refinancing/restructuring plan including repayment strategies for secured and unsecured debt; (g) evaluate intercompany and affiliate transactions for commercial reasonableness; (h) evaluate asset values and prioritize obligations to maximize stakeholder recovery; (i) provide capital sourcing services to identify and obtain new, bridge, or replacement funding; (j) oversee personnel and information flow required for transactions; (k) communicate with lenders regarding performance and restructuring progress; (l) direct financial management priorities and administrative support oversight; (m) evaluate collateral values under various restructuring scenarios; (n) prepare term sheets and restructuring options for management review; (o) communicate with vendors regarding past due obligations and repayment structures; (p) review financial controls and processes to identify improvements; (q) evaluate operating costs and recommend cost reductions; (r) prepare stakeholder reports; (s) provide additional services as directed by the Companies governing bodies; and (t) perform supplemental services during bankruptcy proceedings. Mr. Payne will receive compensation of $15,000 per bi-weekly period, plus standard staff rates for hours exceeding 30 per period. The Companies will fund a $100,000 deposit, and a success fee of 3.5% applies to CRO-originated capital funding and 1.5% for Company-originated funding. Marshall & Stevens is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code, and has no adverse interests or connections with the Debtors, creditors, or U.S. Trustee, as stated in court filings. The firm can be reached at: David R. Payne MARSHALL & STEVENS 119 N. Robinson Ave., Suite 1250 Oklahoma City, OK 73102 Telephone: (316) 262-5500 Facsimile: (316) 262-5559 E-mail: david@eronlaw.net About Integrated Proteins, LLC Integrated Proteins, LLC and affiliates sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Kan. Lead Case No. 26-20713) on May 6, 2026. At the time of filing, Debtors had estimated assets of between $50,000,001-$100 million and liabilities of between $100,000,001-$500 million. Judge Dale L Somers oversees the case. Prelle Eron & Bailey, P.A. and Haupt Law PC serve as the Debtors' legal counsel. INTERTRADE HOLDINGS: Seeks Chapter 11 Bankruptcy in Florida ----------------------------------------------------------- On April 28, 2026, Intertrade Holdings Inc. filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Southern District of Florida. According to court filings, the Debtor reports between $1 million and $10 million in debt owed to between 1 and 49 creditors. A meeting of creditors under Section 341(a) to be Held on June 2, 2026 at 09:30 AM by TELEPHONE. About Intertrade Holdings Inc. Intertrade Holdings Inc. is a corporate holding entity that may be engaged in investment management, asset ownership, or diversified business operations through affiliated companies and subsidiaries. Intertrade Holdings Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-15399) on April 28, 2026. In its petition, the Debtor reports estimated assets between $100,001 and $1,000,000 and estimated liabilities between $1 million and $10 million. Honorable Bankruptcy Judge is assigned to the case. IQSTEL INC: Secures $50MM Equity Purchase Facility With M2B Funding ------------------------------------------------------------------- IQSTEL, Inc. announced in a regulatory filing that it entered into an Equity Purchase Agreement and a Registration Rights Agreement with M2B Funding Corp. Pursuant to the Purchase Agreement, the Company may, from time to time during the Commitment Period, require the Investor to purchase up to $50,000,000 of the Company's common stock, par value $0.0001 per share, at a per-share price equal to 94% of the lowest daily volume-weighted average price during the six Trading Days following delivery of a Put Notice, subject to volume-based caps, a daily maximum of $500,000, and an Exchange Cap of 19.99% of shares outstanding on the Execution Date (unless stockholder approval is obtained). The Investor is subject to a Beneficial Ownership Limitation (initially 4.99%, increasable to 9.99%). The Commitment Period begins on the date the Registration Statement is declared effective by the SEC and ends on the earlier of: (i) the date the Investor has purchased the full $50,000,000, (ii) the date that is 60 months after the Effective Date, (iii) written termination notice by the Company (subject to the terms of the Purchase Agreement), or (iv) termination by the Investor as provided in the Purchase Agreement. As consideration for the commitment, the Company will issue Commitment Shares valued at $1,000,000 (half on the Execution Date; half on the 12-month anniversary or earlier termination), subject to a 20% daily volume leak-out restriction. The Registration Rights Agreement requires the Company to file a resale S-1 registration statement covering all Registrable Securities within 90 days and to use best efforts to have it declared effective within 180 days, with customary liquidated damages (0.25% per month, capped at 12% of the Maximum Commitment Amount) for delays. The Investor has customary review and comment rights on the registration statement and related prospectuses. The agreements contain customary representations, warranties, covenants, conditions, and indemnification provisions. The Purchase Agreement may be terminated by the Company upon 30 days' notice (subject to a termination fee) or upon certain other events. Proceeds will be used for general corporate purposes. There is no material relationship between the Company and the Investor other than as contemplated by the agreements. Full text copies of the Purchase Agreement and Registration Rights Agreement are available at https://tinyurl.com/bdz47k42 and https://tinyurl.com/4pfcucfw, respectively. Unregistered Sales of Equity Securities On April 30, 2026, the Company issued the Initial Commitment Shares to the Investor pursuant to the Purchase Agreement. The shares were issued in reliance on the exemption from registration provided by Section 4(a)(2) of the Securities Act and/or Rule 506(b) of Regulation D. The Investor represented that it is an accredited investor. About iQSTEL iQSTEL Inc. is a multinational technology company that provides services across telecom, fintech, blockchain, artificial intelligence, and cybersecurity. The Company operates in 21 countries and serves a global customer base. It projects $340 million in revenue for fiscal year 2025. Pittsburgh, Pennsylvania-based Urish Popeck & Co., LLC, the Company's auditor, issued a "going concern" qualification in its report dated April 6, 2026, attached to the Company's Annual Report on Form 10-K for the year ended December 31, 2025, citing that the Company has suffered recurring losses from operations, negative working capital, and does not have an established source of revenues sufficient to cover its operating costs. The ability of the Company to continue as a going concern is dependent upon its ability to successfully accomplish its business plan and eventually attain profitable operations. Accordingly, the Company has determined that these factors raise substantial doubt as to the Company's ability to continue as a going concern for a period of one year from the issuance of the financial statements. Management intends to continue to fund its business by way of public or private offerings of the Company's stock or through loans from private investors, in order satisfy the Company's obligations as they come due for at least one year from the financial statement issuance date. However, the Company has not concluded that these plans alleviate the substantial doubt related to its ability to continue as a going concern. As of December 31, 2025, the Company had $51,087,935 in total assets, $34,807,308 in total liabilities, and $16,280,627 in total stockholders' equity. ISLAND GASTROENTEROLOGY: Seeks to Extend Exclusivity to Sept. 11 ---------------------------------------------------------------- Island Gastroenterology Consultants, P.C. asked the U.S. Bankruptcy Court for the Eastern District of New York to extend its exclusivity periods to file a plan of reorganization and obtain acceptance thereof to Sept. 11 and Nov. 10, 2026, respectively. The Debtor submits that "cause" exists for the Court to extend the Exclusive Periods requested in this Motion. Specifically, the following factors all weigh in favor of granting the requested extensions: * The Debtor is less than four months into the Chapter 11 Case; * The first few months involved stabilization of the operations and marketing and sale efforts which were recently formalized with a bid procedure process; * The Bar Date Order was recently set and the deadlines for filing claims has not yet passed and will not pass before the Initial Deadlines expire. Until the general bar date and governmental bar date pass, the Debtor will not know what claims have been filed. Extension of the Exclusive Periods will enable the Debtor to analyze the full universe of claims against the estates prior to proposing a chapter 11 plan. * This request for an extension of the Debtor's Exclusive Periods is the first such request. The Debtor expects to file a chapter 11 plan within the time provided by this first requested extension of the Exclusive Periods. * The Debtor is not seeking an extension of the Exclusive Periods to exert pressure on any party. * The Debtor is proceeding diligently toward completion of the Chapter 11 Case, including a sale of substantially all assets, and will propose a plan as soon as practicable. The Debtor believes that the requested extensions will provide sufficient additional time to allow them to file a confirmable Chapter 11 plan. The Debtor submits that cause exists for the relief requested herein. About Island Gastroenterology Consultants P.C. Island Gastroenterology Consultants, P.C. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.Y. Case No. 26-70198) on Jan. 14, 2026, listing between $1 million and $10 million in both assets and liabilities. The petition was signed by Raj Mariwalla, M.D. as director. Judge Sheryl P. Giugliano oversees the case. The Debtor is represented by: Sean C. Southard, Esq. Klestadt Winters Jureller Southard & Stevens, LLP Tel: 212-972-3000 Email: ssouthard@klestadt.com Andrew Charles Brown Klestadt Winters Jureller Southard & Stevens, LLP Tel: 212-972-3000 Email: abrown@klestadt.com ITREGULATORS INC: Seeks to Hire Schneider & Stone as Legal Counsel ------------------------------------------------------------------ ITRegulators, Inc. seeks approval from the U.S. Bankruptcy Court for the Northern District of Illinois to employ Schneider & Stone to handle Chapter 11 case. The firm's counsel and staff will be paid at these hourly rates: Attorneys $500 Paralegals $175 The firm received an initial advanced fee retainer of $9,000 from Michael Williams. Ben Schneider, Esq., and Matthew Stone, Esq. attorneys at Schneider & Stone, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Ben Schneider, Esq. Matthew Stone, Esq. Schneider & Stone 8524 Skokie Blvd., Suite 200 Telephone: (847) 933-0300 Email: ben@windycitylawgroup.com mstone@windycitylawgroup.com About ITRegulators Inc. ITRegulators, Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 26-06014) on April 6, 2026. In the petition signed by Michael D. Williams, president, the Debtor disclosed up to $50,000 in assets and up to $500,000 in liabilities. Judge Nancy A. Peterman oversees the case. The Debtor is represented by Ben L. Schneider, Esq., and Matthew Stone, Esq., at Schneider & Stone. JAMAICA ESTATES: Sale Proceeds & Exit Financing to Fund Plan ------------------------------------------------------------ Jamaica Estates South Design Group LLC filed with the U.S. Bankruptcy Court for the Eastern District of New York a Disclosure Statement describing Plan of Reorganization dated April 29, 2026. The Debtor is a New York limited liability company whose sole managing member is Olga Anastasia Kakuris. The Debtor was formed for the purpose of acquiring and developing real property located in Jamaica, Queens, New York. The Debtor's principal assets consist of three contiguous parcels of real property located in Jamaica, New York, identified as Block 9894, Lots 47, 48, and 51 (collectively, the "Property"). The three lots are as follows: (i) Lot 47: 90-07 178th Street, Jamaica, New York 11432; (ii) Lot 48: 90-03 178th Street, Jamaica, New York 11432; and (iii) Lot 51: 178-08 90th Avenue, Jamaica, New York 11432. As of the Petition Date, the Debtor's primary assets consisted of the three contiguous real property lots described above. The Debtor's secured debt consists principally of: (i) tax lien certificates held by Tower Capital Management encumbering Lots 47, 48, and 51 individually; and (ii) and the secured claim of Lawrence Group 441 Holdings, LLC in the amount of $2,310,086.00, reflected in the claims register as Claim No. 12-1, encumbering all three Lots. The estimated consideration contemplated under the Plan is $300,000, of which $190,000 is attributed to Lot 47 for Plan purposes and $98,000 to pay the liens of Tower Capital attached to Lots 48 and 51 with the rest to be used for associated closing costs and administrative fees. The Plan Sponsor, Lawrence, will provide exit financing sufficient to satisfy all Allowed Administrative and Priority Claims, pay the Tower tax liens on Lots 48 and 51 in full, and pay the Lot 47 Tower tax lien up to the value of its collateral as determined by the Court. The Plan will accomplish its objectives through a combination of: (i) the sale of Lot 47 (90-07 178th Street, Jamaica, New York) to the Plan Sponsor, Lawrence Group 441 Holdings, LLC ("Lawrence" or the "Plan Sponsor"); and (ii) exit financing provided by the Plan Sponsor sufficient to satisfy the tax liens encumbering Lots 48 and 51 and all allowed administrative and priority claims in full. The Debtor has negotiated a restructuring arrangement with Lawrence Group 441 Holdings, LLC, the holder of the senior secured judgment lien on all three Lots. Lawrence has agreed to serve as Plan Sponsor, acquiring Lot 47 and providing exit financing for the payment of Tower Capital Management's liens on Lots 48 & 51, in exchange for 100% of the equity in the Reorganized Debtor. This arrangement enables the Debtor to fund distributions to creditors and reorganize. Class 5 consists of all general unsecured claims against the Debtor. After payment of Allowed Administrative Expense Claims, Priority Tax Claims, U.S. Trustee Fees, and Allowed Claims in Classes 1 through 4, holders of Allowed Class 5 Claims shall receive pro rata distributions from any remaining cash, if any. Class 5 is impaired. Class 6 consists of all Interest Holders of the Debtor. The Debtor's sole equity holder is Olga Anastasia Kakuris. Existing equity interests shall be cancelled and extinguished without distribution in exchange for the Plan Sponsor's New Value Contribution. All equity in the Reorganized Debtor shall be issued to Lawrence. The funds necessary for the implementation of the Plan shall be derived from: (i) the proceeds of the sale of Lot 47 to the Plan Sponsor, Lawrence Group 441 Holdings, LLC, at the Plan-determined Market Value of Lot 47 ($375,000); and (ii) the Exit Financing in the amount of $100,000 provided by Lawrence pursuant to its New Value Contribution to fund Plan distributions. The Plan Sponsor has committed to provide Exit Financing and to acquire Lot 47 in exchange for a New Value Contribution, which will be sufficient to make the initial payments required under the Plan on the Effective Date, including the satisfaction in full of the Tower tax liens on Lots 48 and 51 and the payment of all Allowed Administrative and Priority Claims. A full-text copy of the Disclosure Statement dated April 29, 2026 is available at https://urlcurt.com/u?l=fx1XE6 from PacerMonitor.com at no charge. Counsel to the Debtor: Btzalel Hirschhorn, Esq. Anderson Bowman & Wallshein, PLLC 80-02 Kew Gardens Road, Suite 600 Kew Gardens, NY 11415 Telephone: (718) 263-6800 Facsimile: (718) 520-9401 Email: bhirschhorn@abwpllc.com About Jamaica Estates South Design Group Jamaica Estates South Design Group LLC was formed for the purpose of acquiring and developing real property located in Jamaica, Queens, New York. The Debtor filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. E.D.N.Y. Case No. 25-43600) on July 29, 2025, with up to $500,000 in assets and up to $10 million in liabilities. Judge Nancy Hershey Lord presides over the case. Btzalel Hirschhorn, at Anderson Bowman & Wallshein, PLLC, is serving as the Debtor's counsel. JAZZ APPAREL'S: Commences Chapter 11 Bankruptcy in New York ----------------------------------------------------------- On May 1, 2026, Jazz Apparel's International Inc. filed for Chapter 11 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 million in debt owed to between 1 and 49 creditors. A meeting of creditors under Section 341(a) to be held on May 28, 2026 at 02:30 PM at Zoom.us - USTrustee 10: Meeting ID 161 1310 5467, Passcode 8815187370, Phone 1 (202) 796-9384. About Jazz Apparel's International Inc. Jazz Apparel's International Inc. is an apparel and fashion company engaged in the design, distribution, and sale of clothing and related fashion products. The company operates within the retail and garment industry, serving wholesale and consumer markets. Jazz Apparel's International Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-11012) on May 1, 2026. In its petition, the Debtor reports estimated assets between $0 and $100,000 and estimated liabilities between $100,001 and $1 million. Honorable Bankruptcy Judge Philip Bentley handles the case. JEFFERSON LA BREA: 9th Circuit Upholds Sec. 363 Bankruptcy Sale --------------------------------------------------------------- In the appeal styled TONY LEWIS, Plaintiff - Appellant, v. JEFFERSON LA BREA D&J PROPERTIES, LLC, Defendant - Appellee, No. 25-4356 (9th Cir.), Judges Kim McLane Wardlaw, Ana de Alba and Jeffrey Vincent Brown of the U.S. Court of Appeals for the Ninth Circuit upheld the judgment of the United States District Court for the Central District of California that affirmed the 11 U.S.C. Sec. 363 bankruptcy sale of Appellee Jefferson La Brea D&J Properties, LLC's ("LLC") assets. Jefferson La Brea D&J Properties, LLC is the owner of several adjoining parcels located near the intersection of West Jefferson Blvd. and South La Brea Avenue in Los Angeles. These parcels and their associated rental income are effectively the sole property of the estate. Debtor is an LLC with at least one member, Jason Upchurch as Administrator of the Estate of Darlene Upchurch-Friedman. It is undisputed that Appellant Tony Lewis was at one point a member of the Debtor LLC. It is also undisputed that in 2014 Lewis and Darlene Upchurch-Friedman executed an agreement in which Lewis purported to sell his interest in the LLC to Upchurch-Friedman. Lewis now claims that this 2014 purchase agreement was either always knowingly a sham between Lewis and Upchurch-Friedman or, alternatively, was rescinded in 2015. As shared by the Troubled Company Reporter, in 2021, Lewis filed a complaint against the Debtor and Jason Upchurch in California state court seeking, among other things, a declaration that he is a member of the Debtor LLC. The case remains pending. In August 2022, Mega Bank began foreclosure proceedings to protect its first priority lien on the property. An attempt at refinancing the Mega Bank loan failed, allegedly due to Lewis's lack of cooperation. In response to the failure to refinance, Upchurch filed a Chapter 11 bankruptcy petition on behalf of the Debtor. During the pendency of the bankruptcy case, Lewis has occupied parts of the Property, invited others to occupy the property, and allegedly obstructed attempts to sell the property. The bankruptcy court has found Lewis in contempt of its orders three times and recommended criminal contempt sanctions against Lewis. Eventually a buyer was found for the property and the bankruptcy court approved the sale over the objection of Lewis. Lewis argues that the sale should not have been approved because such a decision by the Debtor -- who is a debtor-in-possession -- must be approved by Lewis under the LLC Operating Agreement. On similar grounds, Lewis claims that the filing of the bankruptcy petition was improper because Upchurch, as a single member of the LLC, did not have the authority to file the petition unilaterally without Lewis's consent. Appeal The LLC filed a motion to dismiss or expedite the appeal, which a motions panel denied in part (denying the motion to dismiss and granting the motion to expedite). This appeal is timely. The district court entered its judgment on June 11, 2025, and Lewis filed a notice of appeal on July 11, 2025. According to the Circuit Judges, "The district court did not abuse its discretion in affirming the bankruptcy sale. Several of Lewis's objections to the sale hinge on Lewis's alleged membership in the LLC. That question was not presented to the bankruptcy court and is not before us on appeal. Rather, Lewis filed a state court suit in 2021 to vindicate his alleged interest in the LLC. That suit is ongoing. We cannot say the district court abused its discretion for failing to find facts that were neither previously established nor presented for its review." The panel finds Lewis's argument that the bankruptcy sale is an improper sub rosa plan fails because the sale does not direct the disposition of the proceeds such that Lewis's claim of interest in the LLC could be thwarted. The panel also finds the district court did not commit clear error by affirming the bankruptcy court's finding of good faith of the purchaser because there was nothing in the record to indicate anything other than good faith. A copy of the Court's Memorandum dated May 5, 2026, is available at https://urlcurt.com/u?l=kL5Rwk About Jefferson La Brea D&J Properties LLC Jefferson La Brea D&J Properties LLC leases a commercial property located at 5112-5118 W. Jefferson Blvd., and 3409-3421 S. La Brea Avenue, in Los Angeles. Jefferson La Brea D&J Properties LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Cal. Case No. 22-14481) on August 17, 2022. The Debtor considers itself a Single Asset Real Estate (as defined in 11 U.S.C. Sec. 101(51B)). In the petition filed by Jason E. Upchurch, as manager, the Debtor estimated assets between $10 million and $50 million and estimated liabilities between $1 million and $10 million. Judge Vincent P. Zurzolo oversees the case. The Debtor is represented by David B. Shemano, Esq., at ShemanoLaw. JP DESIGN: Seeks to Hire Lefkovitz & Lefkovitz as Legal Counsel --------------------------------------------------------------- JP Design & Construction, LLC seeks approval from the U.S. Bankruptcy Court for the Middle District of Tennessee to employ Lefkovitz & Lefkovitz, PLLC as counsel. The firm will provide these services: (a) advise the Debtor as to its rights, duties, and powers; (b) prepare and file statements and schedules, plans, and other documents and pleadings necessary to be filed by the Debtor in this proceeding; (c) represent the Debtor at all hearings, meetings of creditors, conferences, trials, and any other proceedings in this case in the U.S. Bankruptcy Court for the Middle District of Tennessee; and (d) perform such other bankruptcy legal services as may be necessary in connection with this case. The firm's counsel will be paid at these hourly rates: Attorneys $550 Paralegals $200 In addition, the firm will seek reimbursement for expenses incurred. The firm received a total of $18,262 as retainer, plus $1,738 in Court filing fees. Jay Lefkovitz disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Jay R. Lefkovitz, Esq. Lefkovitz & Lefkovitz, PLLC 908 Harpeth Valley Place Nashville, TN 37221 Telephone: (615) 256-8300 Facsimile: (615) 255-4516 Email: jlefkovitz@lefkovitz.com About JP Design & Construction LLC JP Design & Construction, LLC sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Tenn. Case No. 26-01911) on Apr. 24, 2026, listing up to $500,000 in assets and up to $1 million in liabilities. Judge Charles M. Walker oversees the case. Jay R. Lefkovitz, Esq., at Lefkovitz & Lefkovitz, PLLC serves as the Debtor's counsel. KEENOVA THERAPEUTICS: S&P Affirms 'BB-' ICR, Outlook Stable ----------------------------------------------------------- S&P Global Ratings affirmed its 'BB-' issuer credit rating on Keenova Therapeutics plc. S&P also affirmed its 'BBB-' issue-level rating on its super priority revolver and 'BB-' issue-level ratings on its term loan and secured notes. The stable outlook reflects S&P's expectation leverage will remain at the high end of the 3x-4x range, with FOCF to debt of 13%-15% and sufficient cash for acquisitions and targeted R&D to enhance the growth and durability of its portfolio. Keenova Therapeutics plc's fiscal 2025 pro forma S&P Global Ratings-adjusted gross leverage was 4.0x, modestly higher than S&P's prior expectations, following the merger of Mallinckrodt and Endo in July 2025 and subsequent divestiture of Par Health in November 2025. This is partially offset by strong cash balances and our expectation for robust free operating cash flow (FOCF) of $350 million to $400 million annually over the next two years, underpinned by growth in its core brands and lower capital expenditure requirements for the remaining branded business. The affirmation reflects robust FOCF generation and strong cash balances, despite modestly higher gross leverage. S&P said, "Fiscal 2025 pro forma S&P Global Ratings-adjusted leverage of 4.0x was about a half turn higher than our prior expectations, and we anticipate it will remain near this level over the next 12 months. Our pro forma gross leverage calculation incorporates a full year of Endo's earnings and $420 million of acquisition-related addbacks. Our expectation for leverage sustained around 4x reflects planned commercial investments to drive continued Acthar growth and prepare for Xiaflex's potential label expansions. We also anticipate the realization of $100 million in total synergies by the end of 2026 (Keenova realized $13 million of pre-tax synergies in the fourth quarter of 2025) will be largely offset by associated implementation expenses." Despite higher leverage, S&P projects good annual FOCF of $350 million to $400 million over the next two years, translating to FOCF to debt of 13%-15%. This is underpinned by a step-down in capital expenditure (capex) in the remaining business and supported by continued growth of key brands Acthar and Xiaflex. Keenova's balance sheet capacity for M&A is essential given the absence of meaningful products in its pipeline. While the company faces less pressure than most pharmaceutical companies due to the long lives of its top two brands (Acthar and Xiaflex accounted for 63% of 2025 pro forma sales), it lacks meaningful opportunities within its existing pipeline and invests only a modest 5%-7% of revenues in R&D. S&P said, "As a result, we believe acquisitions will be essential to support long-term growth. Moreover, we believe its below-average level of R&D effectively inflates EBITDA and EBITDA margins relative to many peers, as R&D is expensed under GAAP while M&A is not." S&P said, "We expect Keenova's capital allocation strategy will prioritize the expansion of its branded portfolio, primarily through strategic acquisitions of late-stage assets aligned with its core marketing expertise and targeted R&D. The company intends to fund these acquisitions with its substantial cash balance (more than $800 million as of the fiscal-year-ended 2025), internally generated cash flows, and proceeds from the potential divestiture of noncore brands such as Percocet. Keenova has not publicly articulated a leverage target, but we do not anticipate a material increase in leverage in the near term, particularly given its intention to pursue a public listing on the New York Stock Exchange in the second half of 2026. "We expect strong growth in Acthar and Xiaflex over the next 12 months. In fiscal 2025, the company's two largest brands were primary growth drivers, with Acthar revenue increasing 39% and Xiaflex revenue increasing 6% year over year. Keenova has successfully defended Acthar's market position despite the loss of patent protection, leveraging significant regulatory barriers to bioequivalence, innovative delivery methods such as the SelfJect autoinjector (enhancing dosing convenience and adherence), and approvals for multiple rare and complex inflammatory conditions where therapeutic need outweighs price sensitivity. We expect the Acthar revenues will remain relatively stable over the next several years, but longer-term market disruption is possible from the introduction of synthetic ACTH products in the U.S. "Increased market awareness, pricing, and demand stemming from Peyronie's disease have driven Xiaflex's growth. We anticipate Xiaflex will likely maintain exclusivity and market leadership into the mid-2030s, potentially extending beyond its patent life due to its complex formulation and the limited market size. The company is actively pursuing two potential new indications for Xiaflex: a Phase III plantar fibromatosis study expected to conclude in the third quarter of 2026, with regulatory submission targeted for the fourth quarter of 2026; and a hammer toe program with an end-of-Phase 2 meeting in the second quarter and a Phase 3 study anticipated to begin in the fourth quarter. The potential revenue contribution from these indications remains uncertain at this stage. "Keenova's U.S. concentration (more than 90% of sales) limits its exposure to recent legislative headwinds. We view its high geographic and product concentration unfavorably relative to larger, more diversified peers. However, its geographic concentration limits exposure to certain legislative risks in the pharmaceutical industry, including most-favored-nation pricing and tariffs. In addition, while Acthar is unlikely to be directly affected by the Inflation Reduction Act, the company and previous owner Questcor have received scrutiny for past pricing actions. We believe pricing pressure on these products has softened materially, and the presence of another branded competitor in the therapeutic class further reduces the likelihood of sudden pricing shocks. "The stable outlook reflects our expectation for leverage sustained at the high end of the 3x-4x range associated with the rating, FOCF to debt of 13%-15%, and sufficient cash for acquisitions and targeted R&D to enhance the growth and durability of its portfolio." S&P could lower its rating on Keenova if it expects S&P Global Ratings-adjusted debt to EBITDA sustained above 4x or FOCF to debt of less than 10%. This could occur because of: -- An inability to replace lost revenue in its existing business stemming from potential market share erosion for Acthar, competition for Xiaflex, or greater-than-expected declines in its INOmax franchise and other products; or -- A more aggressive financial policy, including debt-funded acquisitions. While unlikely over the next 12 months, S&P could raise its rating on Keenova if: -- S&P anticipates it will sustain S&P Global Ratings-adjusted debt to EBITDA below 3x and FOCF to debt above 15%; and -- It meaningfully improves its growth prospects and reduces potential earnings volatility through expanded product diversity. KSK TRANSPORT: Unsecureds Will Get 26% of Claims in Plan -------------------------------------------------------- KSK Transport LLC filed with the U.S. Bankruptcy Court for the Middle District of Georgia a Plan of Reorganization under Subchapter V dated April 28, 2026. The Debtor is a limited liability company under the laws of the State of Georgia. It is a small trucking company. Due to a general slow-down in business, it was unable to meet its debt obligations. The bankruptcy was filed in response to unstainable levels of daily and weekly payments on unsecured merchant capital advances. The Debtor files this plan to pay its creditors and return itself to profitability. Class 6 shall consist of all Allowed Unsecured Claims. Class 6 shall include, but not be limited to, Unsecured Claims filed by Northeast Bank c/o Newity, Claim No. 2, and Uline, Claim no. 3, together with Allowed Unsecured Claims as identified in all Classes and all claims identified as Secured Claims on the schedules but filed as Unsecured Claims. The claims in Class 6 (General Unsecured), to the extent allowed, shall be settled and satisfied as follows: Claims in this class shall be paid a percentage of their Allowed Claims, up to a total aggregate claims payment of $25,000.00, over the term of the plan. Estimated claims in this class are $93,766.88, meaning a proposed dividend of approximately 26%. The plan will last a minimum of three years and a maximum of five years. Each holder of an Allowed Unsecured Claim shall be paid by the Debtor (or Trustee, as the case may be) their pro rata share of each annual distribution within thirty days of the annual payment due date, as described in Article VI of the plan. All payments shall be made from the Debtor's future earnings, from the liquidation of its assets, or from loans, contributions or gifts to the Debtor. For Class 6 claims, Debtor shall fund annual payments of at least $5,000.00 each, with the first payment due on the anniversary of the Effective Date. Payments will be completed within 60 months / 5 years following the Effective Date. A full-text copy of the Subchapter V Plan dated April 28, 2026 is available at https://urlcurt.com/u?l=2RSE0B from PacerMonitor.com at no charge. Counsel to the Debtor: Daniel L. Wilder, Esq. LAW OFFICES OF EMMETT L. GOODMAN, JR., LLC 544 Mulberry Street, Suite 800 Macon, GA 31201-2776 Telephone: (478) 745-5415 E-mail: dwilder@goodmanlaw.org About KSK Transport LLC KSK Transport LLC is a small trucking company. The Debtor sought protection for relief under Chapter 11 of the Bankruptcy Code (Bankr. M.D. Ga. Case No. 26-10168) on January 30, 2026, listing $50,001 to $100,000 in assets and $100,001 to $500,000 in liabilities. Judge Austin E Carter presides over the case. Daniel Lewis Wilder, at Law Offices of Emmett L. Goodman, Jr., serves as the Debtor's counsel. KUBERA HOTEL: Court OKs Deal to Use Wilmington's Cash Collateral ---------------------------------------------------------------- The U.S. Bankruptcy Court for the Northern District of California, Oakland Division, approved a sixth stipulation allowing Kubera Hotel Properties, LP to use the cash collateral of its secured creditor, Wilmington Trust National Association. Under the sixth stipulation, the Debtor is authorized to use cash collateral to pay the expenses set forth in its budget. In return, Wilmington will continue to receive a monthly payment of $15,000 and a replacement lien on the Debtor's assets, with the same validity, priority and extent as its pre-bankruptcy lien. The stipulation is available at https://shorturl.at/yj4xg from PacerMonitor.com. Wilmington is represented by: Meagen E. Leary, Esq. Marcus O. Colabianchi, Esq. Geoffrey A. Heaton, Esq. Duane Morris, LLP Spear Tower One Market Plaza, Suite 2200 San Francisco, CA 94105-1127 Telephone: +1 415 957 3000 Fax: +1 415 957 3001 mcolabianchi@duanemorris.com gheaton@duanemorris.com About Kubera Hotel Properties LP Kubera Hotel Properties LP operates a 113-room hotel located at 920 University Avenue, Berkeley, California. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Cal. Case No. 25-40996) on June 6, 2025. In the petition signed by Pradeep Kantilai T. Khatri, chief executive officer, the Debtor disclosed up to $50 million in both assets and liabilities. Judge Charles Novack oversees the case. Ryan C. Wood, Esq., at the Law Offices of Ryan C. Wood, Inc., represents the Debtor as bankruptcy counsel. LAKE EFFECT INVESTMENTS: Seeks Subchapter V Bankruptcy in Florida ----------------------------------------------------------------- On May 5, 2026, Lake Effect Investments, Inc. filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the Middle District of Florida. According to court filings, the debtor reports between $1 million and $10 million in debt owed to between 1 and 49 creditors. About Lake Effect Investments, Inc. Lake Effect Investments, Inc. is a privately held investment entity based in Florida that is primarily engaged in real estate investment and asset management. The company focuses on acquiring and managing property-related holdings, including residential and commercial real estate assets. Lake Effect Investments, Inc. sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-01062) on May 5, 2026. In its petition, the debtor reported estimated assets between $0 and $100,000 and estimated liabilities between $1 million and $10 million. The debtor is represented by Jonathan M. Bierfeld, Esq. of Martin Law Firm P.L. LAKESHORE LEARNING: S&P Affirms 'B-' ICR, Outlook Negative ---------------------------------------------------------- S&P Global Ratings affirmed its 'B-' rating on U.S.-based Lakeshore Learning Materials LLC. Concurrently, S&P affirmed its 'B-' issue-level rating on the company's first-lien term loan. S&P revised the recovery rating on this debt to '3' from '4', reflecting its expectation for a meaningful (50%-70%; rounded estimate: 50% versus 40% previously) recovery in the event of a payment default. The negative outlook reflects the possibility that S&P will lower its ratings on Lakeshore in the next 12 months if the company doesn't significantly improve earnings, potentially due to further revenue declines or an inability to deliver cost savings as expected, resulting in an unsustainable capital structure. Lakeshore Learning Materials LLC reported a significant S&P Global Ratings-adjusted EBITDA decline and free operating cash flow (FOCF) deficit for fiscal 2025 due to revenue declines exceeding 20%, impacts from tariffs, greater-than-expected operational challenges, and some transitory costs. S&P estimates its S&P Global Ratings-adjusted EBITDA to cash interest coverage fell well below 1x. S&P expects earnings will significantly improve in fiscal 2026 as sales stabilize, one-time costs roll off, and it realizes cost savings from restructuring activities. While credit metrics will remain weak, this should support positive FOCF and EBITDA cash interest coverage near 1.5x in 2026, with continued improvement thereafter. The negative outlook reflects the risk that Lakeshore's earnings fail to improve, resulting in an unsustainable capital structure. The company reported continued sales declines in fiscal-year 2025 (ended Dec. 31, 2025) due to lower demand from public educational institutions following the expiration of the American Rescue Plan's Elementary and Secondary School Emergency Relief Fund (ESSER) in 2024. S&P said, "Sales were largely in line with our expectations, but Lakeshore's operating expenses were much higher than expected because it encountered operational challenges ramping up its new distribution center and implementing its new ERP system. We estimate the company's S&P Global Ratings-adjusted EBITDA declined over 75%, resulting in EBITDA cash interest coverage ratio well below 1x." S&P said, "We do not expect demand to improve significantly over the near term because of tight state and local government budgets. We forecast Lakeshore's sales could be flat to down this year as volumes decline, even with higher prices partially offsetting higher costs, including import tariffs. Nonetheless, we expect the company will improve its earnings because of actions it has taken to adjust its cost structure in response to lower demand. We expect earnings improvement will be further supported by lower one-time costs related to these actions, price increases, and improved operating efficiencies from its new ERP system and new and more modern distribution center in Utah. We project Lakeshore's EBITDA cash interest coverage ratio will improve to around 1.5x in 2026. We believe our forecast carries downside risk given ongoing macroeconomic uncertainty due to evolving U.S. government policies and geopolitical conflicts. "Our base case assumes the U.S. and Iran will reach an agreement that eases the effective blockage of the Strait of Hormuz, allowing meaningful oil and product flows to resume by the end of May without further material damage to critical energy infrastructure. However, we expect any reopening to be fragile, with the risk of intermittent disruptions." Moreover, even if the Strait were to open fully, oil and gas supply would take several months to return to normal, reflecting operational bottlenecks, damage repair, crew and vessel dislocation, and risk aversion across shipping and insurance markets. As a result, energy prices are likely to remain higher than before the conflict, even if the most acute phase of market stress fades. S&P said, "In February 2026, the U.S. Supreme Court ruling that struck down tariffs imposed under the International Economic Emergency Powers Act (IEEPA) and the subsequent implementation of 10% tariffs under section 122 of the Trade Act of 1974 (which can remain in place for 150 days) have not materially altered our forecast at this time because we expect the administration will maintain high tariffs via a mix of sectoral levies through various channels. Our base case does not assume the company receives a refund from previous IEEPA tariff-related costs." The company's liquidity cushion declined materially and it faces refinancing risk over the near term. Despite lower capital expenditure needs, Lakeshore reported a significant FOCF deficit for the 12-months-ended Dec. 31, 2025. This followed lower sales, higher import tariff costs, slower collections due to implementation of its new ERP system, and one-time costs related to the ramp up of the new distribution center, as well as its restructuring actions. As a result, the company had borrowings under its asset-based lending (ABL) credit facility at year end, which lowered its available liquidity going into its seasonal inventory buildup period. In March 2026, Lakeshore amended its revolver to add additional collateral-based borrowing access for six months. S&P said, "We believe Lakeshore maintains sufficient liquidity, including its revolver availability, to cover its cash uses over the next 12 months. We forecast the company will generate positive FOCF in 2026 driven by the higher earnings, improvement in collections, and lower capital expenditure needs following the completion of its infrastructure investments. We expect it will pay down outstanding ABL borrowings over the coming quarters with excess cash. We note its first-lien term loan matures in October 2028 and its ABL revolver in April 2028 if greater than a certain amount of the term loan is not repaid or refinanced by that time. Weak credit metrics could prevent it from refinancing on similar terms and conditions." The negative outlook reflects the potential for a lower rating over the next 12 months if the company doesn't significantly improve earnings, potentially due to further revenue declines or an inability to deliver cost savings as expected, resulting in an unsustainable capital structure. S&P could lower its ratings on Lakeshore if S&P forecasts it will be unable to sustain EBITDA cash interest coverage of more than 1.5x and positive FOCF, or if its liquidity deteriorates. This could occur if: -- Spending on Lakeshore's product categories continues to decline because of tight federal, state, or local government spending or a recession; -- Its restructuring actions are insufficient to offset lower demand; -- It is unable to offset higher input costs, including from tariffs, shipping, and oil; -- The company's debt credit facilities become current. S&P could revise its outlook on Lakeshore to stable if it maintains its current sales levels and improves its earnings such that S&P expects it will sustain positive FOCF and EBITDA cash interest coverage of more than 1.5x. S&P believes this could occur if: -- The company wins new business by leveraging its sales force and product development capabilities; -- It realizes significant cost savings from its restructuring actions, new distribution center, and ERP system; and -- It does not require significant incremental restructuring actions or investments to improve sales and profitability. LAKESHORE LEARNING: S&P Affirms 'B-' ICR, Outlook Negative ---------------------------------------------------------- S&P Global Ratings affirmed its 'B-' rating on U.S.-based Lakeshore Learning Materials LLC. Concurrently, S&P affirmed its 'B-' issue-level rating on the company's first-lien term loan. S&P revised the recovery rating on this debt to '3' from '4', reflecting its expectation for a meaningful (50%-70%; rounded estimate: 50% versus 40% previously) recovery in the event of a payment default. The negative outlook reflects the possibility that S&P will lower its ratings on Lakeshore in the next 12 months if the company doesn't significantly improve earnings, potentially due to further revenue declines or an inability to deliver cost savings as expected, resulting in an unsustainable capital structure. Lakeshore Learning Materials LLC reported a significant S&P Global Ratings-adjusted EBITDA decline and free operating cash flow (FOCF) deficit for fiscal 2025 due to revenue declines exceeding 20%, impacts from tariffs, greater-than-expected operational challenges, and some transitory costs. S&P estimates its S&P Global Ratings-adjusted EBITDA to cash interest coverage fell well below 1x. S&P expects earnings will significantly improve in fiscal 2026 as sales stabilize, one-time costs roll off, and it realizes cost savings from restructuring activities. While credit metrics will remain weak, this should support positive FOCF and EBITDA cash interest coverage near 1.5x in 2026, with continued improvement thereafter. The negative outlook reflects the risk that Lakeshore's earnings fail to improve, resulting in an unsustainable capital structure. The company reported continued sales declines in fiscal-year 2025 (ended Dec. 31, 2025) due to lower demand from public educational institutions following the expiration of the American Rescue Plan's Elementary and Secondary School Emergency Relief Fund (ESSER) in 2024. S&P said, "Sales were largely in line with our expectations, but Lakeshore's operating expenses were much higher than expected because it encountered operational challenges ramping up its new distribution center and implementing its new ERP system. We estimate the company's S&P Global Ratings-adjusted EBITDA declined over 75%, resulting in EBITDA cash interest coverage ratio well below 1x." S&P said, "We do not expect demand to improve significantly over the near term because of tight state and local government budgets. We forecast Lakeshore's sales could be flat to down this year as volumes decline, even with higher prices partially offsetting higher costs, including import tariffs. Nonetheless, we expect the company will improve its earnings because of actions it has taken to adjust its cost structure in response to lower demand. We expect earnings improvement will be further supported by lower one-time costs related to these actions, price increases, and improved operating efficiencies from its new ERP system and new and more modern distribution center in Utah. We project Lakeshore's EBITDA cash interest coverage ratio will improve to around 1.5x in 2026. We believe our forecast carries downside risk given ongoing macroeconomic uncertainty due to evolving U.S. government policies and geopolitical conflicts. "Our base case assumes the U.S. and Iran will reach an agreement that eases the effective blockage of the Strait of Hormuz, allowing meaningful oil and product flows to resume by the end of May without further material damage to critical energy infrastructure. However, we expect any reopening to be fragile, with the risk of intermittent disruptions." Moreover, even if the Strait were to open fully, oil and gas supply would take several months to return to normal, reflecting operational bottlenecks, damage repair, crew and vessel dislocation, and risk aversion across shipping and insurance markets. As a result, energy prices are likely to remain higher than before the conflict, even if the most acute phase of market stress fades. S&P said, "In February 2026, the U.S. Supreme Court ruling that struck down tariffs imposed under the International Economic Emergency Powers Act (IEEPA) and the subsequent implementation of 10% tariffs under section 122 of the Trade Act of 1974 (which can remain in place for 150 days) have not materially altered our forecast at this time because we expect the administration will maintain high tariffs via a mix of sectoral levies through various channels. Our base case does not assume the company receives a refund from previous IEEPA tariff-related costs." The company's liquidity cushion declined materially and it faces refinancing risk over the near term. Despite lower capital expenditure needs, Lakeshore reported a significant FOCF deficit for the 12-months-ended Dec. 31, 2025. This followed lower sales, higher import tariff costs, slower collections due to implementation of its new ERP system, and one-time costs related to the ramp up of the new distribution center, as well as its restructuring actions. As a result, the company had borrowings under its asset-based lending (ABL) credit facility at year end, which lowered its available liquidity going into its seasonal inventory buildup period. In March 2026, Lakeshore amended its revolver to add additional collateral-based borrowing access for six months. S&P said, "We believe Lakeshore maintains sufficient liquidity, including its revolver availability, to cover its cash uses over the next 12 months. We forecast the company will generate positive FOCF in 2026 driven by the higher earnings, improvement in collections, and lower capital expenditure needs following the completion of its infrastructure investments. We expect it will pay down outstanding ABL borrowings over the coming quarters with excess cash. We note its first-lien term loan matures in October 2028 and its ABL revolver in April 2028 if greater than a certain amount of the term loan is not repaid or refinanced by that time. Weak credit metrics could prevent it from refinancing on similar terms and conditions." The negative outlook reflects the potential for a lower rating over the next 12 months if the company doesn't significantly improve earnings, potentially due to further revenue declines or an inability to deliver cost savings as expected, resulting in an unsustainable capital structure. S&P could lower its ratings on Lakeshore if S&P forecasts it will be unable to sustain EBITDA cash interest coverage of more than 1.5x and positive FOCF, or if its liquidity deteriorates. This could occur if: -- Spending on Lakeshore's product categories continues to decline because of tight federal, state, or local government spending or a recession; -- Its restructuring actions are insufficient to offset lower demand; -- It is unable to offset higher input costs, including from tariffs, shipping, and oil; -- The company's debt credit facilities become current. S&P could revise its outlook on Lakeshore to stable if it maintains its current sales levels and improves its earnings such that S&P expects it will sustain positive FOCF and EBITDA cash interest coverage of more than 1.5x. S&P believes this could occur if: -- The company wins new business by leveraging its sales force and product development capabilities; -- It realizes significant cost savings from its restructuring actions, new distribution center, and ERP system; and -- It does not require significant incremental restructuring actions or investments to improve sales and profitability. LAUNDRY BAR: Cash Collateral Hearing Set for May 14 --------------------------------------------------- The U.S. Bankruptcy Court for the Northern District of Texas, Dallas Division, is set to hold a hearing on May 14 to consider final approval of The Laundry Bar, LLC's bid to use cash collateral. The Debtor was initially authorized to use cash collateral under the court's May 7 interim order, which expires 30 days after entry of the order. The interim order approved the payment of expenses from the cash collateral in accordance with the Debtor's budget and granted the Debtor's primary secured creditor protection through a monthly payment of $4,200, insurance on its collateral, and replacement liens on all post-petition assets (except Chapter 5 avoidance actions) similar to its pre-bankruptcy collateral. The Debtor's primary secured creditor is Clean Laundry Funding, a division of Western State Bank, which holds a secured promissory note in the original principal amount of $626,797.75. Clean Laundry Funding holds a blanket lien on substantially all of the Debtor's assets, including accounts and proceeds, as well as the funds in the Debtor's operating account at Bank of America, N.A. and the Debtor's daily operating revenues, all of which constitute cash collateral. As of the petition date, the Debtor held $26,717.58 in its Bank of America account. The Debtor's landlord, Carrier B&H Ventures, LLC, may assert a contractual lien on non-exempt personal property located on the leased premises. Any such lien, however, is subordinate to Clean Laundry Funding's perfected security interest in the same collateral. The order is available at https://is.gd/KkTaXt from PacerMonitor.com. Clean Laundry Funding, as secured creditor, is represented by: Kelsey N. Linendoll, Esq. Padfield & Stout, L.L.P. 100 Throckmorton Street, Suite 700 Fort Worth, TX 76102 Telephone: (817) 338-1616 Facsimile: (817) 338-1610 About the Laundry Bar LLC The Laundry Bar, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Texas Case No. 26-31817) on April 28, 2026. In the petition signed by Andre Johnstone-Cloete, owner, the Debtor disclosed up to $500,000 in assets and up to $1 million in liabilities. Judge Scott W. Everett oversees the case. C. Daniel Herrin, Esq., at Herrin Law, PLLC, represents the Debtor as legal counsel. LIVEONE INC: Craig Christensen Named Interim CFO ------------------------------------------------ LiveOne, Inc. announced in a regulatory filing that it appointed Craig Christensen as the Company's Interim Chief Financial Officer, Interim Treasurer and Interim Secretary, to succeed Ryan Carhart, the former Vice President, Chief Financial Officer, Treasurer and Secretary of the Company, who notified the Company on April 28, 2026 that he is leaving the Company to pursue another professional opportunity effective as of the Effective Date. Mr. Christensen will also assume the role of Principal Accounting Officer of the Company. Mr. Christensen was also appointed to the same positions with PodcastOne, Inc., the Company's majority owned subsidiary, and Slacker, Inc., the Company's wholly owned subsidiary. "Craig is a proven operator with deep capital markets and M&A experience," said Robert Ellin, Chairman and CEO of LiveOne and Executive Chairman of PodcastOne. "As we scale each company's acquisition pipeline and expand their B2B and AI initiatives, his leadership will be critical to executing our next phase of growth." About Craig Christensen Mr. Christensen, age 48, is a seasoned finance executive with over 25 years of progressive leadership experience in scaling public and private companies across technology, professional services, manufacturing and health sciences industries. Mr. Christensen has extensive expertise in financial reporting, U.S. GAAP, financial planning and analysis, capital market transactions, treasury, audit and internal control oversight. Throughout his career, Mr. Christensen has demonstrated a strong track record of building and leading high-performing finance organizations, and partnering with executive leadership to drive growth strategy, capital planning, operational scalability and enterprise value creation. Prior to his appointment as the Company's Interim Chief Financial Officer, Interim Treasurer and Interim Secretary, since May 2025, Mr. Christensen served as the Chief Financial Officer of 180 Health Services, a privately held regenerative wound care and biologics company. From November 2022 to May 2025, Mr. Christensen served as the Senior Vice President, Corporate Controller of a NYSE-listed environmental services company, Montrose Environmental Group, where he led a global finance organization, supported multiple acquisitions and integrations and played a key role in a successful public equity offering. From December 2018 to November 2022, Mr. Christensen served as Vice President, Finance of Econolite Group, an intelligent mobility solutions provider, where he led digital transformation initiatives and supported the sale of the company to private equity. Mr. Christensen's earlier experience included roles as Vice President, Controller, Interim Chief Financial Officer, and other finance leadership roles with a Nasdaq-listed transportation technology company, Iteis Inc., and a Nasdaq-listed aerospace and defense management consulting company, SM&A. Mr. Christensen previously worked at Ernst & Young, LLP, a global public accounting firm, with a specialization in financial audits of public and privately held companies. Mr. Christensen holds a Bachelor of Arts degree in Business Economics with an emphasis in Accounting from the University of California, Santa Barbara, and is a licensed Certified Public Accountant in the State of California. In connection with his appointment, LiveXLive, Corp. ("LiveXLive"), the Company's wholly owned subsidiary, entered into a consulting agreement with Mr. Christensen, the terms of which are summarized below. There is no arrangement or understanding between Mr. Christensen and any other persons pursuant to which Mr. Christensen was appointed to his positions. There are no family relationships between Mr. Christensen and any of the Company's officers or directors. Other than as described, there are no other transactions to which the Company or any of its subsidiaries is a party in which Mr. Christensen has a material interest subject to disclosure under Item 404(a) of Regulation S-K. In connection with Mr. Christensen's appointment as the Company's, PodcastOne's and Slacker's Interim Chief Financial Officer, Interim Treasurer and Interim Secretary, on April 27, 2026, LiveXLive entered into a Consulting Agreement with Mr. Christensen. The term of the Agreement is on a month-to-month basis at a weekly fee of $6,250. Mr. Christensen is also eligible to earn the following equity bonuses: (i) 10,000 shares of the Company's common stock if during the Term the Company and PodcastOne file their respective Annual Reports on Form 10-K for the fiscal year ended March 31, 2026, and (ii) 5,000 shares of the Company's common stock if during the Term the Company and PodcastOne file their respective Quarterly Reports on Form 10-Q for the fiscal quarter ended June 30, 2026. Unless the Agreement is terminated by LiveXLive with "Cause", Mr. Christensen shall be entitled to receive the Shares if the Reports are filed during the Term. The parties agreed that, within approximately 90 days after the Effective Date, the Company and Mr. Christensen will engage in good faith discussions regarding the potential transition of Mr. Christensen to a full-time Chief Financial Officer position with the Company, PodcastOne and their other respective subsidiaries. Any such transition, if agreed upon by the parties, shall be memorialized in a separate written agreement setting forth the terms of Mr. Christensen's employment, including cash compensation, benefits and equity compensation, all of which shall be subject to negotiation and mutual agreement of the parties at such time. The Agreement contains covenants for the benefit of LiveXLive relating to protection of the Company's and its subsidiaries' confidential information and certain customary representations and warranties and standard mutual and other LiveXLive indemnification obligations. A full text of copy of the Consulting Agreement is available at https://tinyurl.com/58c6zb65 About LiveOne Headquartered in Beverly Hills, California, LiveOne, Inc. -- www.liveone.com -- is a creator-first, music, entertainment and technology platform focused on delivering premium experiences and content worldwide through memberships and live and virtual events. The Company is a pioneer in the acquisition, distribution and monetization of live music events, Internet radio, podcasting/vodcasting and music-related membership, streaming and video content. Through its comprehensive service offerings and innovative content platform, it provides music fans the ability to listen, watch, attend, engage and transact. Serving a global audience, the Company's mission is to bring the experience of live music and entertainment to consumers wherever music and entertainment is watched, listened to, discussed, deliberated or performed around the world. New York, New York-based Macias Gini & O'Connell LLP, the Company's auditor since 2022, a "going concern" qualification dated July 15, 2025, attached to the Company's Annual Report on Form 10-K for the fiscal year ended March 31, 2025. Macias Gini & O'Connell cited that the Company has suffered recurring losses from operations, negative cash flows from operating activities and has a net capital deficiency. These matters raise substantial doubt about the Company's ability to continue as a going concern. As of December 31, 2025, the Company had $52.3 million in total assets, $62.8 million in total liabilities, and $10.5 million in total stockholders' deficit. LUNAI BIOWORKS: Completes Acquisition of Neurobridge IP Holdings ---------------------------------------------------------------- Lunai Bioworks, Inc. announced in a regulatory filing that the Company completed its merger with Neurobridge IP Holdings Incorporated, a Delaware corporation, pursuant to an Agreement and Plan of Merger, dated April 27, 2026, among the Company, Holdings, Lunai Bioworks IP, Inc., a Delaware corporation and wholly owned subsidiary of the Company, and the holders of all of the issued and outstanding capital stock of Holdings, namely Oncotelic Inc., a Delaware corporation, and Pelerin Therapeutics Inc., a corporation existing under the laws of the Province of British Columbia, Canada. Pursuant to the Merger Agreement, Holdings merged with and into Merger Sub in a triangular merger, with Merger Sub continuing as the surviving corporation and as a wholly owned subsidiary of the Company. In consideration for the Merger, on May 1, 2026, the Company issued to the Holders an aggregate of eight shares of a newly designated series of preferred stock of the Company, designated as "Series B Convertible Preferred Stock", having an aggregate stated value of $20,000,000. The Series B Preferred Stock was allocated five shares to Oncotelic (representing 62.5% of the Series B Preferred Stock and an aggregate Stated Value of $12,500,000) and three shares to Pelerin (representing 37.5% of the Series B Preferred Stock and an aggregate Stated Value of $7,500,000). No cash consideration was paid in connection with the Merger. Acquired Patent Portfolio The sole assets of Holdings at the effective time of the Merger consisted of a multi-jurisdictional patent portfolio, which the Holders contributed to Holdings prior to the effective time. The Patents consist of two families: The Pelerin Patent Family includes Canadian Patent Application No. CA2026050584 (Status: Pending), titled "Heterocyclic Compounds for the Treatment of Alzheimer Disease," which generally covers heterocyclic compounds, their preparation, and their use as medicaments for the treatment of Alzheimer's disease, as well as the related U.S. provisional application set forth on Schedule 3.6 to the Merger Agreement. The Oncotelic Patent Family consists of an international (PCT) patent application, a pending U.S. patent application, three U.S. provisional patent applications, one granted Australian patent, and pending patent applications in 10 additional jurisdictions, directed to anti-TGF-beta agents, apomorphine formulations, and related compositions and delivery technologies for the treatment of neurological disorders. Material members include International Patent Application No. PCT/US2022/075763, U.S. Patent Application No. 18/600,993, U.S. Provisional Patent Application Nos. 64/042,932, 64/042,938, and 64/042,941, and Australian Patent No. 2022341090 (granted), with corresponding pending applications in Japan, Canada, Brazil, Mexico, the European Union, India, China, Hong Kong and South Korea. The Company intends to evaluate the Patents in connection with its central nervous system (CNS) and related research and development programs, including in the context of evaluating opportunities for combination and intranasal delivery of CNS-active compounds. No assurance can be given as to the commercial value, validity or enforceability of any of the Patents, as to the issuance of any patent based on any pending patent application, or as to the success of any program that the Company may pursue based on the Patents. Material Terms of the Series B Preferred Stock The rights, preferences, privileges and restrictions of the Series B Preferred Stock are set forth in a Certificate of Designation of Series B Convertible Preferred Stock, which the Company filed with the Secretary of State of the State of Delaware on May 1, 2026, and which became effective upon filing. The Series B Preferred Stock has the following material terms: Conversion. The Series B Preferred Stock is convertible into common stock at a fixed conversion price of $1.50 per share, with a maximum of 13,333,333 underlying shares of common stock based on the aggregate Stated Value, subject to adjustment under the Certificate of Designation. No shares of the Series B Preferred Stock are convertible prior to the Company's receipt of the requisite stockholder approval under Nasdaq Listing Rule 5635 (the "Stockholder Approval"). Pursuant to Section 5.11 of the Merger Agreement, the Company has covenanted to use commercially reasonable efforts to submit the Stockholder Approval Proposal to its stockholders as soon as reasonably practicable after the closing of the Merger, and in any event to commence such process within 180 days after the closing. Voting; dividends; redemption; anti-dilution. The Series B Preferred Stock is non-voting (except as required by Delaware law and for limited class-protection rights), bears no dividends, is not redeemable, has no price-based anti-dilution protection, and is not a "Future Priced Security" under Nasdaq Listing Rule IM-5635-4. Beneficial-ownership limitation. Conversion is subject to a 4.99% beneficial-ownership blocker, increasable by a holder to 9.99% on 61 days' prior written notice; further increases require Company consent and Nasdaq Listing Rule 5635 review. Forfeiture, cancellation and set-off; IP clawback. Under Article VI of the Merger Agreement, the Company may satisfy finally determined indemnification obligations of a Holder by set-off, forfeiture and cancellation of Series B Preferred Stock (at Stated Value) or directly held converted common stock (at the Conversion Price), or direct cash recovery. Section 6.9 of the Merger Agreement establishes a special IP clawback architecture, with stop-transfer and conversion suspension upon an "IP Assertion Event" and forfeiture and cancellation upon an "IP Clawback Event." Restricted securities. The Series B Preferred Stock (and any underlying common stock) constitutes "restricted securities" under Rule 144, will bear customary restrictive legends, and will be maintained in restricted book-entry form and will not be DTC-eligible until the legends are removed. The Series B Preferred Stock issued to Pelerin bears an additional NI 45-102 Canadian restrictive legend reflecting a hold period expiring four (4) months and one (1) day after the later of the original issue date and the date the issuer became a reporting issuer in any province or territory of Canada. Nasdaq Listing Status On February 6, 2026, the Company received a letter from the Listing Qualifications Staff of The Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that the Staff had determined to delist the Company's common stock from The Nasdaq Capital Market. The Company timely requested a hearing before the Nasdaq Hearings Panel, which stayed the delisting action pending the Panel's decision. On April 20, 2026, the Company received notice from the Panel that it had until April 27, 2026, to regain compliance with the $2.5 million equity requirement under Nasdaq Listing Rule 5550(b)(1), and through June 1, 2026, to demonstrate compliance with the $1.00 closing bid price requirement under Nasdaq Listing Rule 5550(a)(2). On April 27, 2026, the Company requested extensions from the Panel through May 1, 2026, and June 4, 2026, to regain compliance with the Stockholders' Equity Rule and the Bid Price Rule, respectively. The Merger and the related issuance of the Series B Preferred Stock is the principal transaction undertaken by the Company to achieve compliance with the Stockholders' Equity Rule. After giving effect to the Merger, the issuance of the Series B Preferred Stock, and based on the Company's preliminary accounting and fair-value analysis, the Company believes its stockholders' equity exceeds the $2.5 million minimum required by Nasdaq Listing Rule 5550(b)(1). The Company is awaiting the Panel's formal determination of compliance with the Stockholders' Equity Rule. There can be no assurance that the Panel will determine that the Company has satisfied the Stockholders' Equity Rule, and any such determination by the Panel is subject to the Panel's continuing review of the Company's disclosures, financial condition and progress toward compliance with the Bid Price Rule. If the Panel determines that the Company has not satisfied the conditions set forth in the Panel's decision (as so extended), Nasdaq may take further action to delist the Company's common stock from The Nasdaq Capital Market. Additional Information Full text copies of the Merger Agreement and the Certificate of Designation are available at https://tinyurl.com/2zmpcttx and https://tinyurl.com/2wdxvked, respectively. About Lunai Bioworks Headquartered in Los Angeles, Calif., Lunai Bioworks Inc. (formerly Renovaro Inc.) is an AI-powered drug discovery and biodefense Company pioneering safe and responsible generative biology. With proprietary neurotoxicity datasets, advanced machine learning, and a focus on dual-use risk management, Lunai is redefining how artificial intelligence can accelerate therapeutic innovation while safeguarding society from emerging threats. Draper, Utah-based Sadler, Gibb & Associates, LLC, the Company's auditor since 2018, issued a "going concern" qualification in its report dated September 29, 2025, attached to the Company's Annual Report on Form 10-K for the fiscal year ended June 30, 2025, citing that the Company has incurred substantial recurring losses from operations, has used cash in the Company's continuing operations, and is dependent on additional financing to fund operations, which raises substantial doubt about its ability to continue as a going concern. As of December 31, 2025, the Company had total assets of $6.7 million, $20.2 million in total liabilities, and $13.5 million in total shareholders' deficit. LYCRA COMPANY: Court Confirms Amended Plan of Reorganization ------------------------------------------------------------ Judge Christopher Lopez of the U.S. Bankruptcy Court for the Southern District of New York confirmed the First Amended Joint Prepackaged Plan of Reorganization of The LYCRA Company LLC and its Debtor Affiliates pursuant to Chapter 11 of the Bankruptcy Code. Any objections to Confirmation of the Plan or approval of the Disclosure Statement are overruled. The Disclosure Statement contains (a) sufficient information of a kind necessary to satisfy the disclosure requirements of all applicable nonbankruptcy laws, rules, and regulations, including the Securities Act, and (b) "adequate information" (as such term is defined in section 1125(a) of the Bankruptcy Code and used in section 1126(b)(2) of the Bankruptcy Code) with respect to the Debtors, the Plan, and the transactions contemplated therein. The Disclosure Statement is approved in all respects. The Plan, as amended, is approved in its entirety and confirmed under section 1129 of the Bankruptcy Code. As reported by the Troubled Company Reporter, citing Law360 Bankruptcy Authority, The Lycra Co. LLC told the Bankruptcy Court its Chapter 11 plan should be confirmed after it struck a deal with a group of creditors supporting the restructuring proposal. The company said the agreement resolved significant concerns raised during the bankruptcy case. Lycra argued that the plan maximizes value for creditors and provides a sustainable financial structure for the company moving forward. The debtor also emphasized that the settlement demonstrates meaningful progress toward consensus among stakeholders, the report stated. The company asked the court to approve the plan and clear the way for implementation of the restructuring transaction. Lycra said confirmation is necessary for the business to complete its turnaround and emerge from bankruptcy protection, according to Law360. A copy of the Court's Findings of Fact and Conclusions of Law and Order dated May 7, 2026, is available at https://urlcurt.com/u?l=QD8fGw from PacerMonitor.com. About Lycra Company The Lycra Company LLC is a textile company that produces elastic materials used in cycling and yoga apparel. The Lycra Company LLC and several affiliates, including Eagle Global Holding B.V., sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Lead Case No. 26-90399) on March 17, 2026, before the Hon. Christopher M. Lopez. The Debtors estimated $100 million to $500 million in estimated assets and liabilities. The Hon. Christopher M. Lopez presides over the jointly administered cases. The Debtors hired Linklaters LLP and Haynes and Boone, LLP as restructuring counsel; Houlihan Lokey as investment banker; FTI Consulting, Inc. as financial advisor; Kroll Inc. as claims and noticing agent. Grant Thornton UK Advisory & Tax LLP serves as its tax structuring advisor. Gibson, Dunn & Crutcher UK LLP serves as lead counsel and Porter Hedges LLP as local counsel to an ad hoc group of lenders. An ad hoc group of minority 1L Linx and USD noteholders to The Lycra Company LLC, et al. is represented by Gray Reed. MAKELELE SYSTEMS: Seeks to Tap Craig E. Dwyer as Bankruptcy Counsel ------------------------------------------------------------------- Makelele Systems Landscape & Maintenance, Inc. seeks approval from the U.S. Bankruptcy Court for the Southern District of California to employ Craig Dwyer, Esq., an attorney practicing in San Diego, Calif., as counsel. The attorney's services include: (a) advise the Debtor with respect to powers and duties under the continued operation of the business and management of the estate; (b) prepare on behalf of the Debtor the necessary legal papers; and (c) perform all other legal services for the Debtor, which may be necessary herein to employ an attorney for such professional services. The attorney will be billed at $400 per hour. Mr. Dwyer received a retainer of $24,000 from the Debtor. Mr. Dwyer disclosed in a court filing that he is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The attorney can be reached at: Craig E. Dwyer, Esq. 8745 Aero Drive, Suite 301 San Diego, CA 92123 Telephone: (858) 268-9909 Facsimile: (619) 582-1980 Email: craigedwyer@aol.com About Makelele Systems Landscape & Maintenance Makelele Systems Landscape & Maintenance, Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Cal. Case No. 26-01514) on April 10, 2026, listing up to $500,000 in assets and up to $10 million in liabilities. Judge Christopher B. Latham handles the case. Craig E. Dwyer, Esq., serves as the Debtor's counsel. MILNER SPORTS: Case Summary & 20 Largest Unsecured Creditors ------------------------------------------------------------ Debtor: Milner Sports, LLC d/b/a Epoch Eyewear 145 Mount View Ln. Colorado Springs, CO 80907 Business Description: Milner Sports, LLC, doing business as Epoch Eyewear, is a veteran-owned eyewear brand based in Colorado Springs, Colorado. The company sells sunglasses, polarized sunglasses, eyewear accessories, and gift cards, with products offered for men, women, and sports use. Epoch Eyewear also lists a lifetime warranty and a 30-day return or exchange policy. Chapter 11 Petition Date: May 5, 2026 Court: United States Bankruptcy Court District of Colorado Case No.: 26-13150 Judge: Hon. Kimberley H Tyson Debtor's Counsel: Aaron A. Garber, Esq. WADSWORTH GARBER WARNER CONRARDY, P.C. 2580 West Main Street, Suite 200 Littleton, CO 80120 Tel: 303-296-1999 E-mail: agarber@wgwc-law.com Total Assets: $350,505 Total Liabilities: $1,055,634 The petition was signed by Rebecca Milner as manager. A copy of the Debtor's list of its 20 largest unsecured creditors is available for free on PacerMonitor at: https://www.pacermonitor.com/view/IFETX6Y/Milner_Sports_LLC_DBA_Epoch_Eyewear__cobke-26-13150__0003.0.pdf?mcid=tGE4TAMA A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/L7FJOKY/Milner_Sports_LLC_DBA_Epoch_Eyewear__cobke-26-13150__0001.0.pdf?mcid=tGE4TAMA MIRROR LAKE: Seeks Approval to Hire Archer Halliday as Accountant ----------------------------------------------------------------- Mirror Lake Village LLC seeks approval from the U.S. Bankruptcy Court for the Western District of Washington to employ Archer Halliday, PS as accountant. The Debtor needs an accountant to perform accounting and tax preparation services. In regards to accounting services, the firm will assist the Debtor in preparing weekly and monthly financial reports as required by applicable court rules and orders. The firm will be paid at an hourly rate of $130 to $375. Steven Lok, CPA at Archer Halliday, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Steven Lok, CPA Archer Halliday, PS 1621 Cornwall Ave. Bellingham, WA 98225 Telephone: (360) 756-1010 About Mirror Lake Village LLC Mirror Lake Village, LLC runs a senior living facility in Federal Way, Washington, offering independent living, assisted living, and memory care services, along with nearby vacant land. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Wash. Case No. 26-10599) on February 27, 2026. In the petition signed by Philip Kaestle, designated officer, the Debtor disclosed up to $50 million in both assets and liabilities. Judge Christopher M. Alston oversees the case. The Debtor tapped Amit D. Ranade, Esq., at Snell & Wilmer as counsel and Archer Halliday, PS as accountant. MIRROR LAKE: Seeks to Tap Cushman & Wakefield Regional as Appraiser ------------------------------------------------------------------- Mirror Lake Village LLC seeks approval from the U.S. Bankruptcy Court for the Western District of Washington to employ Cushman & Wakefield Regional, LLC as appraiser. Cushman will perform appraisal and valuation services for the Debtor. The firm's hourly rates range from $400 to $550 for appraisal services. The firm will be paid at a flat fee of $5,100, plus reimbursement. Gerald Rasmussen, an executive managing director, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Gerald Rasmussen Cushman & Wakefield Regional, LLC 225 West Wacker Drive Chicago, IL 60606 About Mirror Lake Village LLC Mirror Lake Village, LLC runs a senior living facility in Federal Way, Washington, offering independent living, assisted living, and memory care services, along with nearby vacant land. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Wash. Case No. 26-10599) on February 27, 2026. In the petition signed by Philip Kaestle, designated officer, the Debtor disclosed up to $50 million in both assets and liabilities. Judge Christopher M. Alston oversees the case. The Debtor tapped Amit D. Ranade, Esq., at Snell & Wilmer as counsel and Archer Halliday, PS as accountant. MIYOSHI AMERICA: Seeks to Tap Stretto as Claims and Noticing Agent ------------------------------------------------------------------ Miyoshi America, Inc. seeks approval from the U.S. Bankruptcy Court for the Southern District of Texas to employ Stretto, Inc. as claims, noticing, and solicitation agent. Stretto will oversee the distribution of notices and will assist in the maintenance, processing, and docketing of proofs of claim filed in the Chapter 11 case of the Debtor. Prior to the petition date, the Debtor provided Stretto an initial retainer in the amount of $25,000. Sheryl Betance, a senior managing director at Stretto, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Sheryl Betance Stretto, Inc. 410 Exchange, Ste. 100 Irvine, CA 92602 About Miyoshi America Inc. Miyoshi America Inc. is a U.S.-based supplier of advanced materials used in cosmetics and personal care products. The company specializes in engineered powders and treated pigments designed to improve product feel, durability, and visual performance. Miyoshi America Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 26-90522) on April 27, 2026. In its petition, the Debtor reports estimated assets and liabilities between $10 million and $50 million each. Honorable Bankruptcy Judge Christopher M. Lopez handles the case. The Debtor tapped Charles Stephen Kelley, Esq., at Mayer Brown LLP as counsel and Stretto, Inc. as claims, noticing, and solicitation agent. MY VAPE: Gets Interim OK to Use Cash Collateral ----------------------------------------------- My Vape Order, Inc. got the green light from the U.S. Bankruptcy Court for the Middle District of Florida, Jacksonville Division, to use cash collateral to fund operations. At the recently held hearing, the court authorized the Debtor's interim use of cash collateral and set a further hearing for June 2. The Debtor estimates the total value of its cash and accounts receivable at approximately $87,000, based on aging reports of receivables under 90 days old. The Debtor's primary secured creditor is PYXUS International, Inc., which holds a security interest in equipment, inventory, chattel paper, and accounts receivable. It also has a delinquent merchant cash advance obligation to Vital CAP Fund, secured by future receivables. As protection, the Debtor offers to grant secured creditors replacement liens on post-petition generated receivables and related assets. About My Vape Order Inc. My Vape Order, Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 3:26-bk-01900-JAB) on April 29, 2026. In the petition signed by Kyle Godfrey, chief executive officer, the Debtor disclosed up to $500,000 in assets and up to $10 million in liabilities. Judge Jacob A. Brown oversees the case. Bryan K. Mickler, Esq., at Law Offices of Mickler & Mickler, LLP, represents the Debtor as legal counsel. NBG MACHINE: Seeks Approval to Hire CWLS Certified as Accountant ---------------------------------------------------------------- NBG Machine Builders & Precision Tooling, Inc. seeks approval from the U.S. Bankruptcy Court for the District of Puerto Rico to hire Carlos W. Lamboy Santiago of CWLS Certified Public Accountants, PSC to serve as accountant for the Debtor in Possession. Mr. Lamboy Santiago will provide these services: (a) close out Debtor's books as of the date of the filing of this case, and to open new books as of the next day thereafter; (b) establish a new bookkeeping system to replace the system heretofore used by the Debtor; (c) prepare the periodic statements of the Debtor in Possession's operations as required by the rules of this court; (d) prepare and file Debtor's state and federal tax return for the fiscal year which ended in the semester prior to the date of the filing of this case; (e) prepare General Ledger and Disbursements Register; (f) reconcile the account; (g) prepare Certified Interim Financial Statements as needed; (h) prepare annual Financial Statements and Returns; (i) tax and management counseling; and (j) within a separate agreement, represent in taxes investigations. Mr. Lamboy Santiago will bill based on a flat fee monthly payment of $500, and additional fees, if necessary, according to contract and upon approval of the Court. Mr. Carlos W. Lamboy Santiago and CWLS Certified Public Accountants, PSC are "disinterested persons" within the meaning of Section 101(14) of the Bankruptcy Code, according to court filings. The accountant can be reached at: Carlos W. Lamboy Santiago, CPA CWLS CERTIFIED PUBLIC ACCOUNTANTS, PSC PO Box 764 Hwy 100 Km 5.8 Cabo Rojo, PR 00623 Telephone: (787) 255-2004 Facsimile: (787) 255-2003 E-mail: cpalamboypsc@yahoo.com Icdocarloslamboy@gmail.com About NBG Machine Builder & Precision Tooling NBG Machine Builders & Precision Tooling, Inc., a company based in Sabana Grande, Puerto Rico, delivers precision machining and custom tooling solutions for industrial clients. Its operations include manufacturing precision parts for the pharmaceutical sector and general manufacturing, repairing and maintaining critical production components, and providing technical support for automated systems and industrial equipment. Founded in 2006 and led by President Welderman Matos Alemany, the company employs a few staff. NBG filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. D.P.R. Case No. 26-01087) on March 13, 2026, with $1,060,708 in assets and $862,799 in liabilities. Welderman Matos Alemany, president of NBG, signed the petition. Judge Maria De Los Angeles Gonzalez oversees the case. The Debtor is represented by: Juan C. Bigas, Esq. Juan C. Bigas Law PO Box 7011 Ponce, PR 00732-7011 Telephone: (787) 259-1000 E-mail: cortequiebra@yahoo.com NETCAPITAL INC: Raises Working Capital via Three Promissory Notes ----------------------------------------------------------------- Netcapital Inc. announced in a regulatory filing that it entered into two Securities Purchase Agreements with Vanquish Funding Group Inc., a Virginia corporation, pursuant to which the Company issued two promissory notes in the aggregate principal amount of $144,550 for an aggregate purchase price of $125,000, reflecting an aggregate original issue discount of $19,550. The notes consist of: * A Bridge Note in the principal amount of $92,800, issued for a purchase price of $80,000, reflecting an original issue discount of $12,800. The Bridge Note includes a one-time interest charge of 14%, or $12,992, and is payable in five installments beginning October 30, 2026, with total scheduled payments of $105,792. The Bridge Note matures on February 28, 2027. * A Promissory Note in the principal amount of $51,750, issued for a purchase price of $45,000, reflecting an original issue discount of $6,750. The Promissory Note includes a one-time interest charge of 12%, or $6,210, and is payable in ten monthly installments of $5,796 beginning May 30, 2026, with total scheduled payments of $57,960. The Promissory Note matures on February 28, 2027. The notes are prepayable in full without penalty, subject to the prepayment provisions set forth in the notes. Amounts not paid when due bear default interest at 22% per annum. The notes include customary events of default, including payment defaults, covenant breaches, failure to issue shares upon conversion following an event of default, bankruptcy or insolvency events, delisting, failure to comply with Exchange Act reporting obligations, certain restatements, transfer agent-related defaults, and cross-defaults with other existing and future indebtedness of the Company to the holder and its affiliates. Unsecured, Non-Convertible Promissory Note On April 30, 2026, the Company also issued one unsecured, non-convertible promissory note in the total principal amount of $300,000, for gross proceeds of $150,000, reflecting a 50% original issue discount. The note bears interest at 8% per annum, matures on September 30, 2026, and is prepayable at any time without penalty. Upon default, interest accrues at 20% per annum. The note was sold to a related party, Netcapital Systems LLC. The Company used the proceeds of the notes for general working capital purposes. Full text copies of the form of a promissory note issued to Netcapital Systems LLC and the convertible promissory notes issued to Vanquish Funding Group Inc. are available at https://tinyurl.com/ewtrx9f6, https://tinyurl.com/ytvhda4b, https://tinyurl.com/bdd6s2md, https://tinyurl.com/yy675e92, and https://tinyurl.com/34mx7e7t. Unregistered Sales of Equity Securities The Company issued the convertible notes in reliance on the exemption from registration provided by Section 4(a)(2) of the Securities Act of 1933 and Rule 506 of Regulation D thereunder. The notes were offered and sold to an accredited investor, Vanquish Funding Group Inc., for investment purposes without general solicitation. The non-convertible note was also issued pursuant to Section 4(a)(2), in private placements to an accredited investor. No underwriters were involved, and no commissions were paid in connection with the issuances. About Netcapital Inc. Headquartered in Boston, Mass., Netcapital Inc. -- www.netcapital.com -- is a fintech company with a scalable technology platform that allows private companies to raise capital online and provides private equity investment opportunities to investors. The Company's consulting group, Netcapital Advisors, provides marketing and strategic advice and takes equity positions in select companies. The Company's funding portal, Netcapital Funding Portal, Inc. is registered with the U.S. Securities & Exchange Commission (SEC) and is a member of the Financial Industry Regulatory Authority (FINRA), a registered national securities' association. Spokane, Washington-based Fruci & Associates II, PLLC, the Company's auditor since 2017, issued a "going concern" qualification in its report dated August 12, 2025, attached to the Company's Annual Report on Form 10-K for the fiscal year ended April 30, 2025, citing that the Company has a negative working capital, operating losses, and negative cash flows from operations. These factors, among others, raise substantial doubt about the Company's ability to continue as a going concern. As of January 31, 2026, the Company had $26,059,855 in total assets, $4,457,207 in total liabilities, and $21,602,648 in total stockholders' equity. NEXT GENERATION: Seeks Approval to Hire Hammond Law Firm as Counsel ------------------------------------------------------------------- Next Generation Roofing, LLC seeks approval from the U.S. Bankruptcy Court for the Western District of Oklahoma to hire Hammond Law Firm as counsel. Mr. Hammond and his firm will provide these services: (a) assist the Debtor in all matters relating to the above-captioned bankruptcy estate; (b) provide legal counsel to the Debtor in connection with the Chapter 11 proceedings; (c) represent the Debtor in bankruptcy administration matters as necessary throughout the case; and (d) perform all other legal services required in connection with the Debtor's restructuring and administration of the bankruptcy estate. Mr. Hammond will receive compensation at regular hourly rates of up to $550 for attorneys and $100 for legal assistants and law clerks. Hammond Law Firm is a "disinterested person" within the meaning of 11 U.S.C. Sec. 327 and has no adverse interests in connection with the Debtor or its estate, according to court filings. The firm can be reached at: Gary D. Hammond, Esq. Olivia G. Kilby, Esq. HAMMOND LAW FIRM 512 NW 12th Street Oklahoma City, OK 73103 Telephone: (405) 232-6358 Facsimile: (405) 232-6358 E-mail: gary@okatty.com oliva@okatty.com About Next Generation Roofing, LLC ext Generation Roofing, LLC provides roofing installation and inspection services in Oklahoma City, Oklahoma, serving property owners with roof assessments and related exterior-damage evaluations. The company, led by Robert E. Baker, offers roofing contractor services that include support for property inspections and insurance-claim-related assessments. Next Generation Roofing sought protection under Chapter 11 of the Bankruptcy Code (Bankr. W.D. Oklahoma Case No. 26-11534) on May 6, 2026. At the time of the filing, the Debtor had estimated assets of between $1,000,001 and $10 million and liabilities of between $1,000,001 and $10 million. Judge Janice D Loyd oversees the case. Hammond Law Firm is the Debtor's proposed legal counsel. NRPF GROUP: Committee Hires Baker Donelson Bearman as Counsel ------------------------------------------------------------- The official committee of unsecured creditors appointed in the Chapter 11 cases of NRPF Group Two, LLC and its affiliates seeks approval from the U.S. Bankruptcy Court for the Northern District of Georgia to employ Baker, Donelson, Bearman, Caldwell & Berkowitz, PC as counsel. The firm's services include: (a) assist, advise, and represent the committee in consultations with the Debtors regarding the administration of these cases; (b) assist, advise, and represent the committee in analyzing the Debtors' assets and liabilities, investigating the extent and validity of liens and claims, and participating in and review any proposed asset sales, dispositions, financing arrangements, and cash collateral stipulations; (c) assist the committee in analyzing the claims of the Debtors' creditors and their capital structure and in negotiating with holders of claims and equity interests; (d) assist and advise the committee as to its communications to the general creditor body regarding significant matters in these Chapter 11 cases; (e) represent the committee at all hearings and other proceedings before this Court or any other court; (f) assist the committee in preparing pleadings, applications, objections, or other responses or court filings necessary to further the Creditors' committee's interests and objectives; (g) assist, advise, and represent the committee in any matter relevant to determining the Debtors' rights and obligations under any leases or other executory contracts; (h) assist, advise, and represent the committee in investigating the acts, conduct, assets, liabilities, and financial condition of the Debtors, their operations, and any other matters relevant to these cases or to the formation of a plan or other exit strategy; (i) assist, advise, and represent the committee in its participation in the negotiation, formulation, and draft of a plan of liquidation or reorganization, or other exit strategy; (j) assist, advise, and represent the committee in understanding its powers and its duties under the Bankruptcy Code and the Bankruptcy Rules and in performing other services as are in the interests of those creditors represented by the committee; (k) assist, advise, and represent the committee in the evaluation of claims and on any litigation matters; (l) provide such other services to the committee as may be necessary or appropriate in these cases. The firm will be paid at these hourly rates: Mark Duedall, Shareholder $710 Wil Curtis, Associate $550 Siena Berrios Gaddy, Associate $465 Stacie Buckhalter, Paralegal $200 In addition, the firm will seek reimbursement for expenses incurred. Mr. Duedall disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Mark I. Duedall, Esq. Baker, Donelson, Bearman, Caldwell & Berkowitz, PC 3414 Peachtree Road, N.E. Monarch Plaza, Suite 1500 Atlanta, GA 30326 Telephone: (404) 443-6774 Facsimile: (404) 221-6501 Email: mduedall@bakerdonelson.com 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 and its affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ga. Case No. 26-53945) on March 24, 2026. The case is jointly administered in Case No. 26-53945. In its petition, NRPF Group Two disclosed estimated assets up to $100,000 and estimated liabilities between $10 million and $50 million. Honorable Bankruptcy Judge Sage M. Sigler handles the case. The Debtors are represented by Ashley Reynolds Ray, Esq., at Scroggins, Williamson & Ray, PC. On April 14, 2026, the Office of the United States Trustee appointed an official committee of unsecured creditors in this Chapter 11 case. The committee tapped Baker, Donelson, Bearman, Caldwell & Berkowitz, PC as counsel. OCOEE BOTANICALS: Seeks to Hire RMR Legal as Bankruptcy Counsel --------------------------------------------------------------- Ocoee Botanicals, LLC seeks approval from the U.S. Bankruptcy Court for the Eastern District of Tennessee to employ RMR Legal PLLC as counsel. The firm's services include: (a) advise the Debtor with respect to its powers and duties in the continued management and operation of its business and property; (b) advise and consult on the conduct of this Chapter 11 case; (c) attend meetings and negotiate with representatives of creditors and other parties in interest; (d) take all necessary actions to protect and preserve the Debtor's estate; (e) prepare pleadings in connection with this Chapter 11 case; (f) represent the Debtor in connection with obtaining authority to continue using cash collateral and post-petition financing if necessary; (g) advise the Debtor in connection with any potential sale of assets; (h) appear before the Court and any appellate courts to represent the interests of the Debtor's estate; (i) take any necessary action on behalf of the Debtor to negotiate, prepare, and obtain confirmation of a Chapter 11 plan and all documents related thereto; and (j) perform all other necessary legal services for the Debtor in connection with the prosecution of this Chapter 11 case. The firm will be paid at these hourly rates: Partners $375 Paraprofessionals $125 In addition, the firm will seek reimbursement for expenses incurred. The firm received a retainer of $6,738 from the Debtor. Roy Michael Roman, Esq., an attorney at RMR Legal, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Roy Michael Roman, Esq. RMR Legal PLLC 70 N. Ocoee Street Cleveland, TN 37311 Telephone: (423) 528-8484 Facsimile: (43) 717-5564 Email: roymichael@rmrlegal.com About Ocoee Botanicals LLC Ocoee Botanicals, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Tenn. Case No. 26-11036) on April 20, 2026, with $500,001 to $1 million in assets and liabilities. Judge Nicholas W. Whittenburg presides over the case. Roy Michael Roman, Esq., at RMR Legal PLLC represents the Debtor as counsel. ONE DOORKNOB: Seeks Chapter 11 Bankruptcy in Pennsylvania --------------------------------------------------------- On May 4, 2026, One Doorknob At A Time, LLC filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the Eastern District of Pennsylvania. According to court filings, the debtor reports between $100,001 and $1 million in debt owed to between 1 and 49 creditors. Court sets November 2, 2026 as deadline for small business Chapter 11 plan filing. About One Doorknob At A Time, LLC One Doorknob At A Time, LLC is a Pennsylvania-based company engaged in home improvement, hardware services, or property maintenance-related operations. One Doorknob At A Time, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-11969) on May 4, 2026. In its petition, the debtor reported estimated assets between $100,001 and $1 million and estimated liabilities between $100,001 and $1 million. Honorable Bankruptcy Judge Patricia M. Mayer handles the case. The debtor is represented by Maggie S. Soboleski, Esq. PANADERIA RICA: Taps Homel Antonio Mercado Justiniano as Counsel ---------------------------------------------------------------- Panaderia Rica Dona Inc. seeks approval from the U.S. Bankruptcy Court for the District of Puerto Rico to hire Homel Antonio Mercado Justiniano, a professional practicing law, to serve as counsel in its Chapter 11 case. Mr. Mercado Justiniano will provide these services: (a) examine documents of the Debtor and other necessary information to submit Schedules and Statement of Financial Affairs; (b) prepare the Disclosure Statement, Plan of Reorganization, records and reports as required by the Bankruptcy Code and the Federal Rules of Bankruptcy Procedure; (c) prepare Applications and proposed orders to be submitted to the Court; (d) identify and prosecute claims and causes of action assertable by the Debtor-in-possession on behalf of the estate; (e) examine proof of claims filed and to be filed in the case and possible objections to certain claims; (f) advise the Debtor-in-possession and prepare documents in connection with the ongoing operation of the Debtor's business; (g) advise the Debtor-in-possession and prepare documents in connection with the liquidation of estate assets, if needed, including analysis and collection of outstanding receivables and possible motions for sale or post-petition loans; and (h) assist and advise the Debtor-in-possession in the discharge of duties imposed by the Bankruptcy Code and the Federal Rules of Bankruptcy Procedure. Mr. Mercado Justiniano will receive an hourly rate of $250. Associates and paralegals will be paid hourly rates of $125 and $50, respectively, plus reimbursement of expenses. Court filings state that counsel received a $4,000 retainer, with a total agreed retainer of $7,000. Mr. Mercado Justiniano 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: Homel Antonio Mercado Justiniano, Esq. Calle Ramirez Silva #8 Ensanche Martinez Mayagüez, PR 00680-4714 Telephone: (787) 831-2577 (787) 805-2945 Facsimile: (787) 805-7350 E-mail: hmjlaw2@gmail.com About Panaderia Rica Dona Inc. Panaderia Rica Dona Inc. sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Puerto Rico Case No. 26-02074-MCF11) on May 6, 2026. At the time of the filing, Debtor had estimated assets of between $50,001 and $100,000 and liabilities of between $500,001 and $1 million. Homel Antonio Mercado Justiniano, Esq. is Debtor's legal counsel. PERFECT CHOICE: Seeks to Hire Lessne Hoffman as Bankruptcy Counsel ------------------------------------------------------------------ Perfect Choice Roofing, Inc. seeks approval from the U.S. Bankruptcy Court for the Southern District of Florida to employ Lessne Hoffman, PLLC as counsel. The firm's services include: (a) advise the Debtor on compliance with the Bankruptcy Code and Unted States Trustee Guidelines; (b) prepare necessary pleadings and motions; (c) represent the Debtor in negotiations with creditors; and (d) assist in the proposal and confirmation of a Chapter 11 plan. The firm received a retainer of $24,517.50 from the Debtor. Michael Hoffman, Esq., an attorney at Lessne Hoffman, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Michael S. Hoffman, Esq. Lessne Hoffman, PLLC 100 SE 3rd Avenue, 10th Floor Fort Lauderdale, FL 33394 Telephone: (954) 372-5759 Email: mhoffman@lessnehoffman.law 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 counsel. PERNA OIL: Ottinger Hebert Represents Mineral Lessors ----------------------------------------------------- In the Chapter 11 bankruptcy cases of Perna Oil & Gas LLC and its debtor-affiliates, Beech Grove Management, Inc. and Ottinger Hebert, L.L.C. filed with the United States Bankruptcy Court for the Middle District of Louisiana a Verified Disclosure pursuant to Bankruptcy Rule 2019 to inform the Court that Ottinger Hebert represents lessors which are all creditors of the bankruptcy estate. The names of individuals and entities represented by the firm are: 1. Beech Grove Management, Inc.; 2. The John W. Barton Family Foundation; 3. John W. Barton Testamentary Trust; 4. John W. Barton, Jr.; 5. Annette Barton; 6. Margaret P. Barton; 7. John W. Barton, III; 8. Natalie B. Perkin; 9. Catherine S. Barton; and 10. Frances Annette Hutchison Trust II As a preliminary matter, the Lessors have yet to take a position, including a collective position, in the present proceeding. At this time, the Lessors have not formed any formal or binding group or committee. Further, this Court would likely determine all Lessors are affiliates or insiders of one another and no disclosure under Rule 2019 is required. The Lessors' claims against the Debtor arise as lessors of a mineral lease or leases and/or as owners of mineral interests to which the Debtor is the lessee and/or from which the Debtor operates a producing well. The Debtor is obligated to remit royalties to Lessors on production and revenue generated from the Beech Grove 94 H No. 1 Well, having serial number 247705. The last royalties received by any of the Lessors from the Debtor were for May 2024. However, the Debtor has reported that the Well has continued to produce hydrocarbons and is currently in production. Ottinger Hebert and the Lessors reserve the right to supplement or amend this Rule 2019 Statement as necessary or appropriate. Further, nothing contained in this Rule 2019 Statement is intended to, or should be construed; 1. to waive any Lessors' rights or claims against Debtor or any affiliate thereof; 2. as consent to the jurisdiction of the Court over any particular matter; 3. as an election of remedy by any of the Lessors; 4. as a waiver of any of the Lessors' rights to trial by jury in any proceeding so triable; 5. as a waiver of any privilege or protection against disclosure, including, without limitation, the attorney-client privilege or the attorney work product doctrine; 6. as a limitation of any particular Lessor's right to act in his/her/its own self-interest, 7. as a waiver of any other rights, claims, actions, defenses, setoffs, or recoupment to which the Lessors may be entitled under agreements, in law, or in equity, all of which rights, claims, actions, defenses, setoffs, and recoupments are expressly reserved; and 8. as a limitation upon, or waiver of, any rights of any of the Lessors to assert, file, and/or amend any proof of claim in accordance with the applicable law and any order entered in this proceeding. Counsel for Lessors: William H.L. Kaufman, Esq. OTTINGER HEBERT, L.L.C. P. O. Drawer 52606 1313 West Pinhook Road (70503) Lafayette, LA 70505-2606 Tel: (337) 232-2606 Fax: (337) 232-9867 Email: whlkaufman@ohllc.com psottinger@ohllc.com About Perna Oil & Gas LLC Perna Oil & Gas LLC is a Louisiana-based company engaged in exploration, production, and distribution of oil and natural gas, serving both regional and commercial energy markets. Perna Oil & Gas LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-10168) on February 27, 2026. In its petition, the Debtor reports estimated assets of $1 million to $10 million and estimated liabilities of $100,001 to $1 million. The Honorable Bankruptcy Judge Michael A. Crawford handles the case. The Debtor is represented by Ryan James Richmond, Esq., at Sternberg, Naccari & White, LLC. PLUMBING NERDS: Seeks Subchapter V Bankruptcy in Florida -------------------------------------------------------- On May 4, 2026, Plumbing Nerds, LLC filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the Middle District of Florida. According to court filings, the debtor reports between $1 million and $10 million in debt owed to between 50 and 99 creditors. A meeting of creditors under Section 341(a) to be held on June 2, 2026 at 2:00 PM telephonically via US Trustee - Tampa/Ft. Myers. About Plumbing Nerds, LLC Plumbing Nerds, LLC is a Florida-based plumbing and contracting services company providing residential and commercial plumbing solutions. Plumbing Nerds, LLC sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-01055) on May 4, 2026. In its petition, the debtor reported estimated assets between $100,001 and $1 million and estimated liabilities between $1 million and $10 million. Honorable Bankruptcy Judge Luis Ernesto Rivera II handles the case. The debtor is represented by Michael R. Dal Lago, Esq. PLUMBING NERDS: Voluntary Chapter 11 Case Summary ------------------------------------------------- Debtor: Plumbing Nerds, LLC Plumbing & Cooling Nerds 1400 Rail Head Blvd Naples FL 34110 Business Description: Plumbing Nerds, LLC, doing business as Plumbing & Cooling Nerds, provides plumbing, HVAC and electrical services in Southwest Florida. Chapter 11 Petition Date: May 4, 2026 Court: United States Bankruptcy Court Middle District of Florida Case No.: 26-01055 Judge: Hon. Luis Ernesto Rivera II Debtor's Counsel: Michael Dal Lago, Esq. DAL LAGO LAW 999 Vanderbilt Beach Rd. Suite 200 Naples FL 34108 Tel: 239-571-6877 E-mail: mike@dallagolaw.com Estimated Assets: $500,000 to $1 million Estimated Liabilities: $1 million to $10 million The petition was signed by John Verhoff as owner. The Debtor did not include a list of its 20 largest unsecured creditors with the petition. A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/2YU5XAY/Plumbing_Nerds_LLC__flmbke-26-01055__0001.0.pdf?mcid=tGE4TAMA PLURI INC: Chutzpah Holdings Holds 18.64% Equity Stake ------------------------------------------------------ Chutzpah Holdings Limited, Chutzpah Holdings LP, Plantae Bioscience Ltd., and Alexandre Weinstein disclosed in a Schedule 13D (Amendment No. 4) filed with the U.S. Securities and Exchange Commission that as of April 21, 2026, they beneficially own an aggregate of 3,794,897 shares of Pluri Inc.'s Common Stock, par value $0.00001 per share, representing approximately 34.98% of the 10,774,666 shares issued and outstanding as of April 23, 2026. The beneficial ownership among the Reporting Persons is broken down as follows: (i) Chutzpah Holdings Limited ("CHL") - 2,018,014 shares, representing 18.64%, consisting of 1,933,415 common shares directly held and warrants to purchase 84,599 common shares; (ii) Chutzpah Holdings LP ("CHLP") - 1,317,897 shares, representing 12.16%, consisting of 1,250,000 common shares directly held and 110,000 warrant shares currently exercisable without exceeding the 35% Beneficial Ownership Limitation, out of an aggregate of 1,250,000 warrants held under three separate warrant instruments; (iii) Plantae Bioscience Ltd. - 452,702 shares, representing 4.22%, consisting of 452,702 common shares directly held; and (iv) Alexandre Weinstein - 3,794,897 shares in the aggregate, representing 34.98%, consisting of 6,284 shares held directly (5,643 vested RSU shares plus 641 RSUs vesting within 60 days on May 25, 2026), 2,018,014 shares through CHL (100% indirectly owned by Mr. Weinstein), 1,317,897 shares through CHLP, and 452,702 shares through Plantae (approximately 78% indirectly owned by Mr. Weinstein through CHL). This Amendment No. 4 supplements the Original Schedule 13D filed on February 12, 2025, as previously amended on May 12, 2025, December 15, 2025, and January 5, 2026. Chutzpah Holdings Limited may be reached through: Ana Ventura Chutzpah Holdings Limited 4TH Floor, Liberation House, Castle Street St. Helier, Y9, JE1 4HH Tel: 212-613-2091 A full-text copy of Chutzpah Holdings Ltd.'s SEC Report is available https://tinyurl.com/mtye34nd About Pluri Inc. Haifa, Israel-based Pluri Inc. is a biotechnology company, leveraging proprietary cell expansion platform to develop scalable, cell-based solutions across the healthcare, food, and agriculture sectors. Haifa, Israel-based Kesselman & Kesselman, the Company's auditor since 2021, issued a "going concern" qualification in its report dated September 17, 2025, attached to the Company's Annual Report on Form 10-K for the year ended June 30, 2025, citing that the Company has incurred recurring losses and negative cash flows from operating activities and has an accumulated deficit as of June 30, 2025 and the loan received from European Investment Bank is due on June 1, 2026. These circumstances raise substantial doubt about its ability to continue as a going concern. As of December 31, 2025, the Company had $30,596,000 in total assets, $32,346,000 in total current liabilities, $7,463,000 in total long-term liabilities, and $9,213,000 in total deficit. POWER STOP: S&P Alters Outlook to Stable, Affirms 'B-' ICR ---------------------------------------------------------- S&P Global Ratings revised its outlook to stable from negative and affirmed the 'B-' issuer credit rating on Power Stop LLC. The stable outlook reflects S&P's view that Power Stop will sustain stable operating performance and margins over the next 12 months to generate positive free cash flow and maintain adequate liquidity despite any headwinds from tariff-related challenges. Power Stop LLC successfully mitigated its reliance on sourcing brake and brake kit products from China in the wake of tariff implementations, such that profitability and cash flows in 2025 were materially better than we had previously expected. S&P believes Power Stop will continue generating positive FOCF in 2026. Upon the onset of increased tariffs in spring 2025, the company took aggressive actions to diversify its supply from China, mitigating the impact of higher tariff-related burdens. As of the first-quarter of 2026, the company estimates it is now capable of sourcing up to 80% of its supply chain outside of China, providing the company with improved flexibility to reduce tariff costs. In addition, the company took three pricing actions during the year to pass through tariff related costs. As a result of the company's initiatives, S&P Global Ratings-adjusted EBITDA margins exceeded our previous forecast by approximately 200 basis points (bps) coming in at 23.5% for the full year in 2025. The stable earnings coupled with tight working capital management resulted in positive reported FOCF generation in 2025 of approximately $15 million inclusive of tax distributions, exceeding our prior expectations of negative free cash flow generation. S&P said, "We expect cash flow generation to remain modest but stable now that Power Stop has completed most of its supply chain transition. As such, we expect Power Stop will generate positive reported FOCF up to $10 million in 2026, providing a buffer should macroeconomic volatility worsen. "We expect the company's top line to grow modestly, with some margin compression in 2026. Power Stop generated a small amount of revenue growth in 2025 of approximately 0.7%. In 2026, we expect the company to benefit from the full year impact of price increases implemented in 2025, but offset by anticipated lower volumes due to weak consumer discretionary spending. We forecast the company will grow the top line 1%-2% in 2026. "While the company's effective tariff rate has fallen from its peak, we expect the full year burden of tariffs coupled with higher fuel costs related to the ongoing conflict in the Middle East and higher marketing spend will result in a slight margin compression in 2026. In addition, there is a risk that the company's margins reduce further as production in new countries like India may be less efficient and entail greater cost than established China-based production. We expect the company's margins to decline 50 to 100 basis points (bps) in 2026 to the high-22% area. As a result, we expect the company's S&P Global Ratings-adjusted debt to EBITDA to remain around 5.8x, similar to what it reported at the end of 2025." Power Stop's liquidity position has improved over the past 12 months. The company's stronger-than-expected FOCF generation in 2025 resulted in a material improvement in its liquidity profile during the year, which now sits at approximately $77 million of total liquidity, up from approximately $49 million a year prior, consisting of an undrawn $40 million revolving credit facility and approximately $37 million in cash on hand. S&P expects the company's liquidity profile to remain adequate over the next 12 months, providing flexibility should operating issues arise. S&P said, "The stable outlook reflects our view that Power Stop will sustain stable operating performance and margins over the next 12 months to generate positive free cash flow and maintain adequate liquidity despite any headwinds from tariff-related challenges. "We could lower our ratings on Power Stop if its margins weaken materially or working capital outflows intensify, resulting in a sustained FOCF deficit, leading us to believe its financial commitments are unsustainable. This could occur if weaker discretionary spending amid a deteriorating economic environment causes sales to decline, product quality deteriorates because of production location shifts lead to lower sales, or if the company cannot pass through tariff pressures to end customers. "While unlikely over the next 12 months, we could upgrade Power Stop if the company materially increases the scale of operations and diversifies its product offerings. We would also expect the company to maintain S&P Global Ratings-adjusted debt to EBITDA below 5.5x with S&P Global Ratings-adjusted FOCF to debt approaching 5%." PREMIER KINGS: Buyer Not Liable Under Side Deal, Court Says ----------------------------------------------------------- Judge Tamara O. Mitchell of the U.S. Bankruptcy Court for the Northern District of Alabama denied the relief requested by Premier Holdings of Georgia, LLC, in the adversary proceeding captioned as PREMIER HOLDINGS OF GEORGIA, LLC, Plaintiff, vs. RRG OF JACKSONVILLE, LLC, Defendant, A.P. No. 24-00016-TOM (Bankr. N.D. Ala.). This lawsuit arises from the sale of about 165 Burger King restaurants within the southeast by three related debtors in Chapter 11 bankruptcy cases before this Court. The three debtors owned and/or operated these restaurants, often on property leased from others, and often other corporate entities with ownership similar to that of the debtors were involved with the debtors in various ways. One particular Burger King location, located in Port Wentworth, Georgia, was operated by one of the three related debtors on property leased from an apparently unrelated entity. Testimony at trial established that an entity sharing some common ownership with the owner/operator of this particular location obtained a loan for the construction of the restaurant on the leased property; in order for the borrowing entity (the entity sharing some common ownership with the owner/operator) to be repaid by the owner/operator, and then pay the construction loan lender, the two reached a side deal wherein the owner/operator would make monthly payments to the borrowing entity based on the debt service payments. It is this side deal, labeled a Development Agreement, between the one owner/operator and the borrowing entity, that is the focus of this adversary proceeding. The three related debtors filed cases under Chapter 11 of the Bankruptcy Code in 2023 seeking to sell the restaurant locations. The debtors reached agreements with four apparently unrelated purchasers for the sale of the assets relating to approximately 165 Burger King locations, and this Court approved the sale of the Burger King locations. One of those purchasers bought approximately 40 Burger King stores, including the Port Wentworth location. Now that the asset sales have taken place, the borrowing entity that obtained the construction loan in 2019 has asserted that the purchaser of the Port Wentworth, Georgia location has assumed and is responsible for the payments on the side deal that the borrowing entity had reached with the owner/operator, even though the borrowing entity was not a party to the actual sale involving that location. Only the Port Wentworth Store location is at issue, and only the borrowing entity and the purchaser of the Port Wentworth Store location are involved in this dispute; the original owner/operator debtor is not a party to this lawsuit. This dispute at its heart is a basic contract dispute regarding the side deal. Premier Kings of Georgia, Inc., along with two other related entities, filed Chapter 11 bankruptcy cases on October 25, 2023. The three bankruptcy cases were consolidated by this Court for joint administration for procedural purposes. Prior to their bankruptcy filing the Debtors had begun negotiations with prospective purchasers regarding their assets. On December 13, 2023, this Court authorized the Debtors to complete sales of their assets to four unrelated purchasers. One of those purchasers, RRG of Jacksonville, LLC, purchased assets and assumed leases pertaining to approximately 40 Burger King restaurants operated by Debtor Premier Kings of Georgia, Inc., including the Port Wentworth Store. Plaintiff filed this adversary proceeding against Purchaser on April 5, 2024, asserting two causes of action in its Complaint. In Count One, Plaintiff seeks a declaratory judgment that pursuant to the APA, RRG assumed the Development Agreement, RRG is liable to Plaintiff under the Development Agreement, and RRG is required to perform its obligations due under the Development Agreement. In Count Two, Plaintiff claims breach of contract on the grounds that the Development Agreement was validly assigned and RRG assumed the Development Agreement pursuant to the APA, the Assumption Agreement, and the Sale Order. In summary, the Seller's and Plaintiff's side agreement, labeled Development Agreement, was executed for Seller to pay Plaintiff, then in turn for Plaintiff to pay First Horizon Bank, the payments owing on the construction loan Plaintiff obtained to build the Port Wentworth Store building. Unknown to the Purchaser, prior to the bankruptcy, the Seller had been paying to the Plaintiff, according to the express terms of the side agreement, an amount equal to the debt service payments plus a small fee every month. The side agreement, labeled Development Agreement, was therefore basically an agreement for the payment of money. The complaint and this adversary proceeding were filed because Plaintiff seeks payment of past due and accruing fees owed under the Development Agreement, in addition to attorney fees, expenses, and any other amounts owing under the Development Agreement. For Plaintiff to succeed with its Complaint, this Court must determine that the side agreement, labeled the Development Agreement, either is or should be deemed a lease that Purchaser assumed along with the Ground Lease as part of the purchase of the Port Wentworth Store and pursuant to the Sale Order, the documents executed pursuant to the sale, applicable law, and Bankruptcy Code policy. In short, this Court must decide if the Purchaser is liable for payments due by Seller pursuant to the side agreement. The Court denies the the relief requested by Premier Holdings of Georgia. Purchaser, RRG of Jacksonville, LLC, did not assume the Development Agreement in its transaction with Seller, Premier Kings of Georgia, Inc.; therefore, Purchaser RRG of Jacksonville, LLC is not liable for any obligations that have arisen or may arise under the Development Agreement and, having no liability under the Development Agreement, Purchaser RRG of Jacksonville, LLC cannot have breached any contractual obligation under the same. A copy of the Court's Memorandum Opinion and Order dated May 5, 2026, is available at https://urlcurt.com/u?l=2yWXFi from PacerMonitor.com. About Premier Kings, Inc. Premier Kings, Inc. and affiliates are the owners and operators of 174 operating Burger King franchise locations. The Debtors sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ala. Lead Case No. 23-02871) on Oct. 25, 2023. At the time of the filing, Premier Kings reported $10 million to $50 million in assets and $50 million to $100 million in liabilities. Judge Tamara O. Mitchell oversees the cases. The Debtors tapped Cole Schotz, PC as the lead counsel; Holland & Knight, LLP as local bankruptcy counsel; Raymond James & Associates, Inc. as investment banker; and Kurtzman Carson Consultants, LLC as noticing and claims agent. On Nov. 6, 2023, the U.S. Bankruptcy Administrator for the Northern District of Alabama appointed an official committee to represent unsecured creditors in the Debtors' Chapter 11 cases. The committee is represented by the law firm of Christian & Small, LLP. PRO RACKING: Seeks to Hire Sanchez & Baltazar as Legal Counsel -------------------------------------------------------------- Pro Racking Systems Corp., doing business as Pro Racking Systems, seeks approval from the U.S. Bankruptcy Court for the Central District of California to employ Sanchez & Baltazar Attorneys, PC as counsel. The firm will render these services: (a) advise the Debtor regarding matters of bankruptcy law; (b) represent the Debtor in proceedings or hearings in the Bankruptcy Court involving matters of bankruptcy law; (c) prepare and assist the Debtor in the preparation of reports, accounts, applications, and orders; (d) advise the Debtor concerning the requirements of the Bankruptcy Code and Rules relating to administration of this case; and (e) assist the Debtor in negotiation, formulation, confirmation, and implementation of the plan of reorganization. The firm's hourly rates are as follows: Joanne Sanchez, Partner $450 Lisbette Baltazar, Partner $425 Other Attorneys $400 Paralegals $225 Other Support Staff $195 In addition, the firm will seek reimbursement for expenses incurred. The firm received a retainer of $25,000 from the Debtor. Ms. Sanchez disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Joanne P. Sanchez, Esq. Sanchez & Baltazar, PC 1140 S. Tremont Suite 105 Oceanside, CA 92054 Telephone: (760) 302-4652 Facsimile: (844) 881-5852 Email: joanne@sanchezbaltazar.com About Pro Racking Systems Corp. Pro Racking Systems Corp. installs warehouse storage and pallet racking systems for commercial and industrial facilities, undertaking metal racking construction and tenant improvement projects. The company operates through licensed contracting activities tied to large-scale warehouse installations for commercial clients. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Cal. Case No. 26-12211) on March 25, 2026. In the petition signed by Gabriel J. Galeana, chief executive officer and sole shareholder, the Debtor disclosed $685,550 in total assets and $1,084,073 in total liabilities. Judge Scott H. Yun oversees the case. Joanne Sanchez, Esq., at Sanchez & Baltazar Attorneys, PC represents the Debtor as counsel. PROSTHODONTICS DENTAL: Hires Lozada Law & Associates as Counsel --------------------------------------------------------------- Prosthodontics Dental and Implant Solution PSC seeks approval from the U.S. Bankruptcy Court for the District of Puerto Rico to employ Lozada Law & Associates, LLC to handle its Chapter 11 case. The firm will be paid at these hourly rates: Maria Soledad Lozada, Attorney $250 Other Partners/Associates $125 Paralegal $50 In addition, the firm will seek reimbursement for expenses incurred. The firm received a retainer of $7,000 from the Debtor. Ms. Soledad Lozada disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Maria Soledad Lozada, Esq. Lozada Law & Associates, LLC Loira 1631 El Cerezal San Juan, PR 00926 Telephone: (787) 533-1400 Email: msl@lozadalaw.com About Prosthodontics Dental and Implant Solution PSC Prosthodontics Dental and Implant Solution PSC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.P.R. Case No. 26-01632) on April 13, 2026, listing up to $1 million in assets and up to $10 million in liabilities. The Debtor is represented by Maria Soledad Lozada, Esq., at Lozada Law & Associates, LLC. PWB LAND: Case Summary & Five Unsecured Creditors ------------------------------------------------- Debtor: PWB Land Holdings, LLC 16726 Hunters Trail Montgomery, TX 77356 Business Description: PWB Land Holdings, LLC is a Montgomery, Texas-based real estate company that owns and develops residential and land assets in Texas. Chapter 11 Petition Date: May 4, 2026 Court: United States Bankruptcy Court Southern District of Texas Case No.: 26-33201 Debtor's Counsel: Susan Tran Adam, Esq. TRAN SINGH, LLP 2502 La Branch St. Houston TX 77004 E-mail: stran@ts-llp.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Philip Bohlmann as manager. A full-text copy of the petition, which includes a list of the Debtor's five unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/QIAU7RI/PWB_Land_Holdings_LLC__txsbke-26-33201__0001.0.pdf?mcid=tGE4TAMA PWB LAND: Initiates Chapter 11 Bankruptcy in Texas -------------------------------------------------- On May 4, 2026, PWB Land Holdings, LLC filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the Southern District of Texas. According to court filings, the debtor reports between $1 million and $10 million in debt owed to between 1 and 49 creditors. Court sets November 2, 2026 bar date for government claims. About PWB Land Holdings, LLC PWB Land Holdings, LLC is believed to operate as a real estate holding and land investment company focused on property ownership and asset management activities. PWB Land Holdings, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-33201) on May 4, 2026. In its petition, the debtor reported estimated assets between $1 million and $10 million and estimated liabilities between $1 million and $10 million. Honorable Bankruptcy Judge Jeffrey P. Norman handles the case. The debtor is represented by Susan Tran Adams, Esq. of Tran Singh LLP. Q-FREE TCS: Gets Interim OK to Use Cash Collateral -------------------------------------------------- Q-Free, Inc. received interim approval from the U.S. Bankruptcy Court for the District of Delaware to use cash collateral. Under the interim order, the Debtor is authorized to use cash collateral in accordance with its budget from April 29 until the occurrence of so-called termination events including noncompliance with the order and the budget; unauthorized use of cash collateral; dismissal or conversion of its Chapter 11 case; appointment of a bankruptcy trustee or examiner; and modification of the order. The Debtor's primary secured creditor is Headway Capital LLC, which holds a perfected security interest in substantially all of the Debtor's assets (including accounts receivable, inventory, and general intangibles) under a line of credit agreement with an outstanding balance of approximately $101,403. By contrast, although the U.S. Small Business Administration is owed roughly $150,020, it lacks a perfected lien and therefore does not have rights in the Debtor's cash collateral. As protection, Headway will receive a monthly payment of $5,000, staring on May 15. The court scheduled a final hearing on June 4 and set a May 28 deadline for filing objections. The order is available at https://is.gd/YvJApp from PacerMonitor.com. About Q-Free Inc. Q-Free, Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Dela. Case No. 26-10619) on April 29, 2026. In the petition signed by David Radford, president, the Debtor disclosed up to $1 million in both assets and liabilities. Julie B. Klein, Esq., at Klein LLC, represents the Debtor as legal counsel. QUEENS THEATER OWNER: Seeks Chapter 11 Bankruptcy in New York ------------------------------------------------------------- On May 7, 2026, Queens Theater Owner LLC filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the Eastern District of New York. According to court filings, the debtor reports between $10 million and $50 million in debt owed to between 1 and 49 creditors. About Queens Theater Owner LLC Queens Theater Owner LLC is a privately held real estate entity believed to own or manage theater, entertainment or commercial property assets in Queens, New York. Queens Theater Owner LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-42258) on May 7, 2026. In its petition, the debtor reported estimated assets between $50 million and $100 million and estimated liabilities between $10 million and $50 million. Honorable Bankruptcy Judge Elizabeth S. Stong handles the case. The Debto is represented by Eric J. Snyder, Esq. of Wilk Auslander LLP. QVC GROUP: Brown Rudnick Represents Equity Holders -------------------------------------------------- An ad hoc group of beneficial holders to QVC Group, Inc. and its debtor-affiliates, represented by Brown Rudnick LLP as counsel, filed with the United States Bankruptcy Court for the Southern District of Texas, Houston Division, a Verified Statement pursuant to Federal Rule of Bankruptcy Procedure 2019 to inform the Court of the Group's current members and the nature and amount of claims they held in the Debtors' cases. According to the Group's Verified Statement: 1. The Ad Hoc Group of QVC Group Common and Preferred Equity Holders has retained Brown Rudnick to represent it in connection with seeking to obtain the appointment of an Official Equity Committee in the Debtors' Chapter 11 cases. 2. Brown Rudnick represents only the Ad Hoc Group of QVC Group Common and Preferred Equity Holders and does not represent, or purport to represent, any other entity in connection with the Debtors' Chapter 11 cases. Counsel does not represent the Ad Hoc Group of QVC Group Common and Preferred Equity Holders as a "committee" and does not undertake to represent the interests of, and is not a fiduciary for, any creditor, party in interest, or entity other than the Ad Hoc Group of QVC Group Common and Preferred Equity Holders. In addition, the Ad Hoc Group of QVC Group Common and Preferred Equity Holders does not represent or purport to represent any other entities in connection with the Debtors’ chapter 11 cases. 3. Each member of the Ad Hoc Group beneficially holds common equity (QVCGA) and/or preferred equity (QVCGP) of QVC Group. 4. Brown Rudnick does not hold any claim against, or interests in, the Debtors or their estates, other than potential claims for fees and expenses incurred in representing the Ad Hoc Group of QVC Group Common and Preferred Equity Holders. 5. Brown Rudnick submits this Statement out of an abundance of caution, and nothing should be construed as an admission that the requirements of Bankruptcy Rule 2019 apply to Counsel's representation of the Ad Hoc Group of QVC Group Common and Preferred Equity Holders. 6. Nothing should be construed as (i) a limitation upon, or waiver of, any rights of any member or affiliate of any member of the Ad Hoc Group of QVC Group Common and Preferred Equity Holders to assert, file, and/or amend any claim or proof of claim filed in accordance with applicable law and any orders entered in these cases, or (ii) an admission with respect to any fact or legal theory. 7. Brown Rudnick reserves the right to amend this Statement as necessary in accordance with the requirements outlined in Bankruptcy Rule 2019. The names, addresses, nature of economic interest, and amount of disclosable economic interests in relation to the Debtors, are: 1. Salil Rajadhyaksha 212, Total Environment Greensleeves John Avenue Bengaluru 560068, India QVCGA (Common) 72,799 QVCGP (Preferred) 100 2. Anirudha Sudhir Kamat Indraprastha, No. 9, Kingston Road, Richmond Town, Bengaluru 560025, Karnataka, India QVCGA (Common) 19,250 QVCGP (Preferred) 100 3. Vatsala Sudhir Kamat Indraprastha, No. 9, Kingston Road, Richmond Town, Bengaluru 560025, Karnataka, India QVCGA (Common) 12,750 QVCGP (Preferred) 0 4. Diksha Kamat Nayak Indraprastha, No. 9, Kingston Road, Richmond Town, Bengaluru 560025, Karnataka, India QVCGA (Common) 16,800 QVCGP (Preferred) 0 5. Mysore Kaveri Bai Indraprastha, No. 9, Kingston Road, Richmond Town, Bengaluru 560025, Karnataka, India QVCGA (Common) 51,200 QVCGP (Preferred) 100 6. Tarun Appanna Shanti Gruha, 7 Berlie Street, Langford Town, Bengaluru 560025, Karnataka, India QVCGA (Common) 6,302 QVCGP (Preferred) 10 7. Artawat Udompholkul BLK 27A, Adam Road, #03-15, Singapore [postal code to confirm] QVCGA (Common) 37,340 QVCGP (Preferred) 0 8. Modern Credit Ventures Limited Partnership 107 Stanwich Rd, Greenwich, CT 06830 QVCGA (Common) 90,000 QVCGP (Preferred) 2,000 9. Parker Detweiler 200 SE 15th Rd Apt 11I, Miami, FL 33129 QVCGA (Common) 50,000 QVCGP (Preferred) 1,000 10. Tejashkumar Patel 27072 Carronade Drive, Suite A100, Perrysburg OH 43551 QVCGA (Common) 26,004 QVCGP (Preferred) 0 11. Binta Patel 27072 Carronade Drive Suite A100 Perrysburg OH 43551 QVCGA (Common) 5,005 QVCGP (Preferred) 0 12. Matt Ellington 11266 River Moorings Rd Jacksonville, FL 32225 QVCGA (Common) 12,870 QVCGP (Preferred) 0 13. Kai Xu 55 Triton Park Lane, Unit 516 Foster City, CA 94404 QVCGA (Common) 173,089 QVCGP (Preferred) 0 14. Kingbird Ventures LLC 30 N Gould St, Suite R Sheridan, WY 82801 QVCGA (Common) 290,675 QVCGP (Preferred) 0 TOTAL QVCGA (Common) 864,084 TOTAL QVCGP (Preferred) 3,310 Counsel for the Ad Hoc Group of QVC Group Common and Preferred Equity Holders: Adam Schiffer, Esq. BROWN RUDNICK LLP 609 Main Street, Suite 3550 Houston, TX 77002 Tel: (281) 815-0511 E-mail: aschiffer@brownrudnick.com - and - Robert J. Stark, Esq. Bennett S. Silverberg, Esq. Andrew M. Carty, Esq. Alexander F. Kasnetz, Esq. BROWN RUDNICK LLP Seven Times Square New York, NY 10036 Tel: (212) 209-4800 E-mail: rstark@brownrudnick.com bsilverberg@brownrudnick.com acarty@brownrudnick.com akasnetz@brownrudnick.com About QVC Group Inc. QVC Group, Inc., formerly known as Qurate Retail, Inc. -- https://www.qvcgrp.com/ -- owns interests in subsidiaries and other companies that are primarily engaged in the video and online commerce industries. Through its subsidiaries and affiliates, the company operates in North America, Europe and Asia. Its principal businesses and assets include its consolidated subsidiaries QVC, Inc., Cornerstone Brands, Inc., and other cost method investments. QVC Group and several affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 26-90447) on April 16, 2026. In its petition, the Debtor reports more than $1 billion in assets and estimated liabilities of $6.6 billion. The Hon. Bankruptcy Judge Alfredo R. Perez handles the jointly administered cases. The Debtors employed Kirkland & Ellis LLP and Kirkland & Ellis International LLP as co-counsel; Gray Reed, as co-counsel; AlixPartners, LLP, as financial advisor; Evercore Group L.L.C., as investment banker; Kroll Restructuring Administration LLC, as claims and noticing agent; and PricewaterhouseCoopers LLP, as tax advisor. Joele Frank, Wilkinson Brimmer Katcher is serving as strategic communications advisor to QVC Group and QVC, Inc. Kobre & Kim LLP, serves as legal counsel to QVC Group, Inc. under the direction of the Special Committee; Seward & Kissel LLP, as legal counsel to QRI Cornerstone, Inc. under the direction of the Special Committee; Milbank LLP, as legal counsel to Liberty Interactive LLC, under the direction of the disinterested directors, and as legal counsel to Qurate Retail Group, Inc., under the direction of the Special Committee; and Katten Muchin Rosenman LLP, as legal counsel to QVC, Inc., under the direction of the disinterested directors. The Bank of New York Mellon Trust Company, N.A., as trustee under the LINTA Notes Indenture, is represented by Reed Smith LLP, as counsel. The LINTA Noteholder Group is represented by Akin Gump Strauss Hauer & Feld LLP. The QVC Noteholder Group is represented by Davis Polk & Wardwell LLP. The RCF Lender Group, led by JPMorgan Chase Bank, N.A., as administrative agent, is represented by Simpson Thacher & Bartlett LLP. QVC GROUP: Glenn Agre, Cleary & Kane Russell Advise Preferreds -------------------------------------------------------------- In the Chapter 11 bankruptcy cases of QVC Group, Inc. and its debtor-affiliates, Glenn Agre Bergman & Fuentes LLP, Cleary Gottlieb Steen & Hamilton LLP and Kane Russell Coleman Logan PC, filed with the United States Bankruptcy Court for the Southern District of Texas, Houston Division, an Amended Verified Statement pursuant to Bankruptcy Rule 2019 to inform the Court that the firms represent certain beneficial holders of the 8.0% Series A Cumulative Redeemable Preferred Stock. According to the Amended Verified Statement: 1. Certain of the Preferred Shareholders retained CGSH or Glenn Agre to represent them in connection with the Chapter 11 Cases. CGSH and Glenn Agre subsequently arranged for the Preferred Shareholders to jointly engage both firms and to engage KRCL as local counsel. 2. As of the date of this Verified Statement, Counsel represents the Preferred Shareholders and does not represent or purport to represent any entities other than the Preferred Shareholders in connection with the Chapter 11 Cases. In addition, none of the Preferred Shareholders represent or purport to represent any other entities in connection with these cases. 3. By filing this Verified Statement, neither Counsel nor the Preferred Shareholders makes any representation regarding the validity, amount, allowance, or priority of the interests and reserves all rights with respect thereto. 4. Nothing contained in this Verified Statement should be construed as a limitation upon, or waiver of, each Preferred Shareholder's right to assert, file or amend any claims or proofs of interest in accordance with applicable law and any orders entered in these Chapter 11 Cases, including any order establishing procedures for filing proofs of claim or interests, or to be heard on any other matter in the Chapter 11 Cases. 5. Additional Preferred Shareholders may join the Preferred Shareholders, and certain Preferred Shareholders may cease to be represented by Counsel in the future. Counsel reserves the right to amend or supplement this Verified Statement in accordance with the requirements outlined in Bankruptcy Rule 2019. 6. Counsel submits this Verified Statement out of an abundance of caution, and nothing should be construed as an admission that; A. the requirements of Bankruptcy Rule 2019 apply to Counsel's representation of the Preferred Shareholders or B. the Preferred Shareholders constitute a "group" (within the meaning of Section 13(d)(3) or Section 14(d)(2) of the Securities Exchange Act of 1934, as amended or any successor provision), including any group acting for the purpose of acquiring, holding or disposing of securities (within the meaning of Rule 13d 5(b)(1) under the Securities Exchange Act of 1934, as amended or any successor provision). 7. The information in this Verified Statement was provided by each Preferred Shareholder to Counsel as of the date hereof. 8. The Preferred Shareholders have indicated to Counsel that they hold disclosable economic interests or act as investment managers or investment advisors to funds and/or accounts that hold disclosable economic interests in relation to the Debtors. The names, addresses, nature, and amount of all disclosable economic interests of each present Preferred Shareholder in relation to the Debtors, are: 1. Kenneth Grossman 18 Norfolk Rd. Great Neck, NY 11020 Nature and amount of disclosable economic interests Preferred Stock 66,331 shares 2. Kevin Barnes 4030 S. Whitehorse Rd. #408 Malvern, PA 19432 Nature and amount of disclosable economic interests Preferred Stock 20,000 shares 3. Plum Island Partners, LLC 777 Third Avenue 36th Floor New York, NY 10017 Nature and amount of disclosable economic interests Preferred Stock 241,081 shares 4. Tiger Hill Advisors 162-168 Regent Street London W1B 5TG Nature and amount of disclosable economic interests Preferred Stock 50,000 shares Counsel to Preferred Shareholder Group: Mark C. Taylor, Esq. Kane Russell Coleman Logan PC 401 Congress Ave., Suite 2100 Austin, TX 78701 Tel: (512) 487-6650 E-mail: mtaylor@krcl.com - and - Andrew K. Glenn, Esq. Kurt A. Mayr, Esq. Agustina G. Berro, Esq. Glenn Agre Bergman & Fuentes LLP 1185 Avenue of the Americas New York, NY 10036 Tel: (212) 970-1601 E-mail: aglenn@glennagre.com kmayr@glennagre.com aberro@glennagre.com - and - David H. Botter, Esq. Joshua Brody, Esq. Cleary Gottlieb Steen & Hamilton LLP One Liberty Plaza New York, NY 10006 Tel: (212) 225-2000 Fax: (212) 225-3999 Email: dbotter@cgsh.com jbrody@cgsh.com About QVC Group Inc. QVC Group, Inc., formerly known as Qurate Retail, Inc. -- https://www.qvcgrp.com/ -- owns interests in subsidiaries and other companies that are primarily engaged in the video and online commerce industries. Through its subsidiaries and affiliates, the company operates in North America, Europe and Asia. Its principal businesses and assets include its consolidated subsidiaries QVC, Inc., Cornerstone Brands, Inc., and other cost method investments. QVC Group and several affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 26-90447) on April 16, 2026. In its petition, the Debtor reports more than $1 billion in assets and estimated liabilities of $6.6 billion. The Hon. Bankruptcy Judge Alfredo R. Perez handles the jointly administered cases. The Debtors employed Kirkland & Ellis LLP and Kirkland & Ellis International LLP as co-counsel; Gray Reed, as co-counsel; AlixPartners, LLP, as financial advisor; Evercore Group L.L.C., as investment banker; Kroll Restructuring Administration LLC, as claims and noticing agent; and PricewaterhouseCoopers LLP, as tax advisor. Joele Frank, Wilkinson Brimmer Katcher is serving as strategic communications advisor to QVC Group and QVC, Inc. Kobre & Kim LLP, serves as legal counsel to QVC Group, Inc. under the direction of the Special Committee; Seward & Kissel LLP, as legal counsel to QRI Cornerstone, Inc. under the direction of the Special Committee; Milbank LLP, as legal counsel to Liberty Interactive LLC, under the direction of the disinterested directors, and as legal counsel to Qurate Retail Group, Inc., under the direction of the Special Committee; and Katten Muchin Rosenman LLP, as legal counsel to QVC, Inc., under the direction of the disinterested directors. The Bank of New York Mellon Trust Company, N.A., as trustee under the LINTA Notes Indenture, is represented by Reed Smith LLP, as counsel. The LINTA Noteholder Group is represented by Akin Gump Strauss Hauer & Feld LLP. The QVC Noteholder Group is represented by Davis Polk & Wardwell LLP. The RCF Lender Group, led by JPMorgan Chase Bank, N.A., as administrative agent, is represented by Simpson Thacher & Bartlett LLP. QVC GROUP: Simpson Thacher Advises JPMorgan & RCF Lenders --------------------------------------------------------- In the Chapter 11 bankruptcy cases of QVC Group, Inc. and its debtor-affiliates, Simpson Thacher & Bartlett LLP filed with the United States Bankruptcy Court for the Southern District of Texas, Houston Division, a Verified Statement pursuant to Bankruptcy Rule 2019 with respect to its representation of JPMorgan Chase Bank, N.A., as administrative agent, acting at the direction of certain lenders constituting the Required Lenders under and as defined in the Fifth Amended and Restated Credit Agreement, dated as of Oct. 27, 2021, by and among QVC, Inc., QVC Global Corporate Holdings, LLC, JPMorgan as the RCF Agent, and the RCF Lenders. According to the Verified Statement: 1. The RCF Agent has engaged Simpson Thacher to represent it in connection with a potential restructuring of the obligations under the Credit Agreement. 2. Simpson Thacher represents JPM in its separate capacities as: I. RCF Agent, which is acting at the direction of and working in concert with the RCF Lender Group who collectively constitute Required Lenders under the Credit Agreement, and II. Administrative agent (DIP LC Agent) to the $300,000,000 Debtor-In-Possession Letter of Credit Facility Agreement dated as of April 17, 2026. Simpson Thacher does not purport to represent any additional entities in connection with the Chapter 11 Cases. In addition, the RCF Agent and members of the RCF Lender Group do not claim or purport to represent any other entity and undertake no duties or obligations to any entity. 3. The Members, collectively, beneficially own or manage approximately; A. $2,916,293,102.71 in aggregate prepetition commitments under the Credit Agreement, some of which may be held by settled or unsettled participations; B. $2,168,000.00 in aggregate principal amount of 4.750% senior secured notes due 2027 issued by QVC pursuant to that certain third supplemental indenture, dated as of February 4, 2020, to the indenture dated as of September 13, 2018; C. $1,600,000.00 in aggregate principal amount of 4.375% senior secured notes due 2028 (the "QVC 2028 Notes") issued by QVC pursuant to that certain fourth supplemental indenture, dated as of August 20, 2020, to the indenture dated as of September 13, 2018; D. $59,250,000.00 in aggregate principal amount of the 6.875% senior secured notes due 2029 (the "QVC 2029 Notes") issued by QVC pursuant to that certain indenture dated as of September 25, 2024; E. $6,000,000.00 in aggregate principal amount of the 5.450% senior secured notes due 2034 (the "QVC 2034 Notes") issued by QVC pursuant to that certain indenture dated as of August 21, 2014; F. $5,800,000.00 in aggregate principal amount of the 5.950% senior secured notes due 2043 (the "QVC 2043 Notes") issued by QVC pursuant to that certain indenture dated as of March 18, 2013; G. 1,929,531 shares of the 6.375% senior secured notes due 2067 (the "QVC 2067 Notes") issued by QVC pursuant to that certain first supplemental indenture, dated as of September 13, 2018, to the indenture dated as of September 13, 2018; H. 4,886,395 shares of the 6.250% senior secured notes due 2068 (the "QVC 2068 Notes") issued by QVC pursuant to that certain second supplemental indenture, dated as of November 26, 2019, to the indenture dated as of September 13, 2018; and I. 583,700 shares of the 8% series A cumulative redeemable preferred stock issued by QVCG (the "QVCG Preferred Equity") with an aggregate liquidation preference of approximately $27.07 million. 4. Upon information and belief formed after due inquiry, Simpson Thacher does not hold any claim against, or interests in, the Debtors or their estates, other than claims for fees and expenses incurred in representing the RCF Agent or DIP LC Agent. Simpson Thacher’s address is 425 Lexington Avenue, New York, New York 10017. 5. Simpson Thacher submits this Statement out of an abundance of caution, and nothing should be construed as an admission that: I. The requirements of Bankruptcy Rule 2019 apply to Simpson Thacher's representation of the RCF Agent and DIP LC Agent or II. The RCF Lender Group constitutes a group (within the meaning of Section 13(d)(3) or Section 14(d)(2) of the Securities Exchange Act of 1934, as amended or any successor provision), including any group acting for the purpose of acquiring, holding, or disposing of securities (within the meaning of Rule 13d-5(b)(1) under the Securities Exchange Act of 1934, as amended or any successor provision). 6. Nothing should be construed as: I. a waiver or release of any claims against the Debtors by the RCF Agent or any Member, II. an admission with respect to any fact or legal theory or III. a limitation upon, or waiver of, the Agent or any Member's claims against the Debtors or the right to file and/or amend a proof of claim in accordance with applicable law and any orders entered in the Chapter 11 Cases. 7. Simpson Thacher reserves the right to amend or supplement this Statement. The name, address, nature and amount of all disclosable economic interests of each Member are: 1. Royal Bank of Canada 200 Vesey St, 12th Floor, New York, NY 10281 $130,000,000 in aggregate commitments under the Credit Agreement. 2. Silver Point Capital, L.P., on behalf of one or more investment funds, separate accounts and other entities owned, controlled, managed, and/or advised by it or its affiliates 2 Greenwich Plaza, Suite 1, Greenwich, CT 06830 $411,944,444.44 in aggregate commitments under the Credit Agreement $2,168,000.00 in aggregate principal amount of QVC 2027 Notes $1,600,000.00 in aggregate principal amount of QVC 2028 Notes $59,250,000.00 in aggregate principal amount of QVC 2029 Notes $6,000,000.00 in aggregate principal amount of QVC 2034 Notes $5,800,000.00 in aggregate principal amount of QVC 2043 Notes 1,929,531 shares of QVC 2067 Notes 4,886,395 shares of QVC 2068 Notes 583,700 shares of QVCG Preferred Equity 3. Scotiabank 711 Louisiana Street, Suite 1400, Houston, TX 77002, United States $130,000,000.00 in aggregate commitments under the Credit Agreement 4. Societe Generale 245 Park Ave., New York, NY 10167, 10th Floor $20,000,000.00 in aggregate commitments under the Credit Agreement 5. Strategic Value Partners on behalf of one or more investment funds, separate accounts and other entities owned, controlled, managed, and/or advised by it or its affiliates 100 West Putnam Avenue, Greenwich CT 06830 $1,041,570,880.52 in aggregate commitments under the Credit Agreement 6. Wells Fargo Bank, National Association 1000 Louisiana St, 4th Floor, Houston, TX 77002 $165,555,555.55 in aggregate commitments under the Credit Agreement Local Counsel for the RCF Agent and the DIP LC Agent: Tom A. Howley, Esq. Eric Terry, Esq. HOWLEY LAW PLLC 700 Louisiana St., Suite 4220 Houston, TX 77002 Tel: 713-333-9125 E-mail: tom@howley-law.com eric@howley-law.com - and - Counsel for the RCF Agent and the DIP LC Agent: Nicholas E. Baker, Esq. Moshe A. Fink, Esq. Rachael L. Foust, Esq. Zachary J. Weiner, Esq. SIMPSON THACHER & BARTLETT LLP 425 Lexington Avenue New York, NY 10017 Tel: (212) 455-2032 Fax: (212) 455-2502 E-mail: nbaker@stblaw.com moshe.fink@stblaw.com rachael.foust@stblaw.com zachary.weiner@stblaw.com About QVC Group Inc. QVC Group, Inc., formerly known as Qurate Retail, Inc. -- https://www.qvcgrp.com/ -- owns interests in subsidiaries and other companies that are primarily engaged in the video and online commerce industries. Through its subsidiaries and affiliates, the company operates in North America, Europe and Asia. Its principal businesses and assets include its consolidated subsidiaries QVC, Inc., Cornerstone Brands, Inc., and other cost method investments. QVC Group and several affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 26-90447) on April 16, 2026. In its petition, the Debtor reports more than $1 billion in assets and estimated liabilities of $6.6 billion. The Hon. Bankruptcy Judge Alfredo R. Perez handles the jointly administered cases. The Debtors employed Kirkland & Ellis LLP and Kirkland & Ellis International LLP as co-counsel; Gray Reed, as co-counsel; AlixPartners, LLP, as financial advisor; Evercore Group L.L.C., as investment banker; Kroll Restructuring Administration LLC, as claims and noticing agent; and PricewaterhouseCoopers LLP, as tax advisor. Joele Frank, Wilkinson Brimmer Katcher is serving as strategic communications advisor to QVC Group and QVC, Inc. Kobre & Kim LLP, serves as legal counsel to QVC Group, Inc. under the direction of the Special Committee; Seward & Kissel LLP, as legal counsel to QRI Cornerstone, Inc. under the direction of the Special Committee; Milbank LLP, as legal counsel to Liberty Interactive LLC, under the direction of the disinterested directors, and as legal counsel to Qurate Retail Group, Inc., under the direction of the Special Committee; and Katten Muchin Rosenman LLP, as legal counsel to QVC, Inc., under the direction of the disinterested directors. The Bank of New York Mellon Trust Company, N.A., as trustee under the LINTA Notes Indenture, is represented by Reed Smith LLP, as counsel. The LINTA Noteholder Group is represented by Akin Gump Strauss Hauer & Feld LLP. The QVC Noteholder Group is represented by Davis Polk & Wardwell LLP. The RCF Lender Group, led by JPMorgan Chase Bank, N.A., as administrative agent, is represented by Simpson Thacher & Bartlett LLP. R.W. SIDLEY: Employs Russ Kiko Associates as Auctioneer ------------------------------------------------------- R.W. Sidley, Inc. files second application for approval from the U.S. Bankruptcy Court for the Northern District of Ohio to employ Russ Kiko Associates, Inc. as auctioneer. The firm will provide these services: (a) conduct a public auction sale of certain personal property of the Debtor (b) perform auction services related to the sale of vehicles and equipment (c) market and advertise the sale of the Debtor's personal property Subject to court approval, the Debtor and the Auctioneer agreed that the Auctioneer would receive a commission of 10% of the gross proceeds of the sale paid by the estate. The auction will also include a 10% buyer's premium to be added to the highest bid to establish the purchase price. The Auctioneer estimated expenses of approximately $650 related to marketing and advertising. As disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: George Kiko RUSS KIKO ASSOCIATES, INC. 2722 Fulton Dr NW Canton, OH 44718 Telephone: (330) 453-9187 About R.W. Sidley, Inc. R.W. Sidley Inc. is a construction materials company based in Thompson, Ohio. R.W. Sidley sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ohio Case No. 25-12797) on July 2, 2025. In its petition, the Debtor reported up to $50,000 in assets and between $1 million and $10 million in liabilities. Bankruptcy Judge Jessica E. Price Smith handles the case. The Debtor tapped Anthony J. DeGirolamo, Esq., as counsel and Root, Spitznas & Smiley, Inc. as accountant. REGAL INVESTMENT: Taps Christie's International as Estate Broker ---------------------------------------------------------------- Regal Investment Properties LLC seeks approval from the U.S. Bankruptcy Court for the Central District of California to employ Christie's International Real Estate as real estate broker. The firm will render these services: (a) show the Debtor's property as necessary, to respond to inquiries from potential buyers, and solicit offers to sell from potential buyers; (b) convey all reasonable sale offers to the Debtor and subject to its approval, negotiate and confirm acceptance of the best sale offer for the property; (c) order, analyze, and to cause to be prepared and submitted all documentation necessary to consummate a sale of property; and (d) perform any other services which may be appropriate to advise and assist the Debtor in the sale of the property. The firm will receive a commission of 2.25 percent of the purchase price, $148,477.50, with an additional 1.25 percent if the potential buyer is not represented. Tomer Fridman and Lior Totaiv, real estate agents at Christie's International Real Estate, disclosed in court filings that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Tomer Fridman Lior Totaiv Christie's International Real Estate 433 N. Camden Dr., Suite 600 Beverly Hills, CA 90210 About Regal Investment Properties LLC Regal Investment Properties LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Cal. Case No. 26-10496) on Mar. 10, 2026. In the petition signed by Justin James Aguilera, president, the Debtor disclosed up to $10 million in both assets and liabilities. Judge Martin R. Barash oversees the case. The Debtor is represented by Roksana D. Moradi-Brovia, Esq., at RHM Law LLP. REKOR SYSTEMS: Gets Nasdaq Minimum Bid Price Non-Compliance Notice ------------------------------------------------------------------ Rekor Systems, Inc. announced in a regulatory filing that it received a written notice from the Listing Qualifications Department of The Nasdaq Stock Market LLC notifying that it is not in compliance with the minimum bid price requirement set forth in Nasdaq Listing Rule 5550(a)(2) for continued listing on The Nasdaq Capital Market. Nasdaq Listing Rule 5550(a)(2) requires listed securities to maintain a minimum bid price of $1.00 per share, and Nasdaq Listing Rule 5810(c)(3)(A) provides that a failure to meet the minimum bid price requirement exists if the deficiency continues for a period of 30 consecutive business days. Based on the closing bid price of the Company's common stock for the 30 consecutive business days from March 13, 2026 through April 24, 2026, the Company no longer meets the minimum bid price requirement. The Notice has no immediate effect on the listing or trading of the Company's common stock, which will continue to trade on The Nasdaq Capital Market under the symbol "REKR." In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has been provided an initial period of 180 calendar days, or until October 26, 2026 (the "Compliance Period"), to regain compliance with the Minimum Bid Price Requirement. To regain compliance, the closing bid price of the Company's common stock must be at least $1.00 per share for a minimum of ten consecutive business days during the Compliance Period, unless Nasdaq exercises its discretion to extend this ten-day period pursuant to Nasdaq Listing Rule 5810(c)(3)(H). If the Company chooses to implement a reverse stock split to regain compliance, it must complete the split no later than ten business days prior to the expiration of the Compliance Period. If the Company does not regain compliance with the Minimum Bid Price Requirement by October 26, 2026, the Company may be eligible for an additional 180-calendar-day compliance period. To qualify, the Company would be required to meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for The Nasdaq Capital Market, with the exception of the Minimum Bid Price Requirement, and would need to provide written notice to Nasdaq of its intention to cure the deficiency during the Second Compliance Period, by effecting a reverse stock split if necessary. If the Company meets these requirements, Nasdaq will inform the Company that it has been granted the Second Compliance Period. However, if it appears to Nasdaq that the Company will not be able to cure the deficiency, or if the Company is otherwise not eligible, Nasdaq will notify the Company that its common stock will be subject to delisting. In the event of such notification, the Company may appeal the delisting determination to a Nasdaq Hearings Panel, and the Company's common stock would remain listed on The Nasdaq Capital Market pending the Panel's decision. The Company intends to monitor the closing bid price of its common stock and will consider all available options to regain compliance with the Minimum Bid Price Requirement within the Compliance Period or any extension thereof, including, if appropriate, by effecting a reverse stock split. There can be no assurance, however, that the Company will regain compliance with the Minimum Bid Price Requirement within the Compliance Period or any extension thereof. About Rekor Systems Rekor Systems, Inc., headquartered in Columbia, Md., is working to revolutionize public safety, urban mobility, and transportation management using AI-powered solutions designed to meet the distinct demands of each market it serves. The Company works hand-in-hand with its customers to deliver mission-critical traffic and engineering services that assist them in achieving their goals. The Company's vision is to improve the lives of citizens and the world around them by enabling safer, smarter, and greener roadways and communities. The Company works towards this by collecting, connecting, and organizing mobility data, and making it accessible and useful to its customers for real-time insights and decisioning for situational awareness, rapid response, risk mitigation, and predictive analytics for resource and infrastructure planning and reporting. Morristown, New Jersey-based CBIZ CPAs P.C., the Company's auditor since 2019 (such date takes into account the acquisition of the attest business of Marcum LLP by CBIZ CPAs P.C. effective November 1, 2024), issued a "going concern" qualification in its report dated March 31, 2026, attached to the Company's Annual Report on Form 10-K for the year ended December 31, 2025, citing that the Company has incurred significant losses and needs to raise additional funds to meet its obligations and sustain its operations. These conditions raise substantial doubt about the Company's ability to continue as a going concern. As of December 31, 2025, the Company had $85,387,000 in total assets, $42,517,000 million in total liabilities, and $42,870,000 in total stockholders' equity. RETO ECO-SOLUTIONS: FY2025 Net Loss Widens to $12.6 Million ----------------------------------------------------------- Reto Eco-Solutions, Inc. has filed its Annual Report on Form 20-F with the U.S. Securities and Exchange Commission for the fiscal year ended December 31, 2025, reporting a net loss of $12.6 million for the year ended December 31, 2025, compared to a net loss of $8.4 million for the year ended December 31, 2024. Total revenues for the year ended December 31, 2025 were $3.4 million, compared to $1.2 million in the prior period. Irvine, California-based YCM CPA INC., the Company's auditor since 2021, issued a going concern qualification in its report dated May 1, 2026, attached to the Company's Annual Report on Form 20-F for the year ended December 31, 2025, citing that the Company incurred recurring losses from operations and has an accumulated deficit, which raises substantial doubt about its ability to continue as a going concern. Liquidity and Capital Resources As of December 31, 2025, the Company had cash of approximately $0.3 million, a working capital deficit of approximately $5.1 million, and outstanding bank loans of $0.2 million. The Company also had outstanding accounts receivable of approximately $0.3 million, of which approximately $20,000 were subsequently collected and became available for use as working capital. The Company has historically funded its working capital needs from cash flow from operations, advance payments from customers, bank borrowings, equity and debt offerings, and related-party loans. The Company's principal sources of liquidity are generated from its operations, proceeds from debt and equity financings, and loans and notes from commercial banks. Working capital requirements are influenced by the level of operations, the numerical volume and dollar value of sales contracts, the progress of execution on customer contracts, and the timing of accounts receivable collections. PRC Regulatory Considerations ReTo is a holding company incorporated in the British Virgin Islands. Substantially all of the Company's operations are conducted in China and are denominated in RMB, which is subject to exchange control regulations in China. Under applicable PRC regulations, foreign-invested enterprises in China may pay dividends only out of their accumulated profits, if any, determined in accordance with PRC accounting standards and regulations. In addition, a foreign-invested enterprise in China is required to set aside at least 10% of its after-tax profit based on PRC accounting standards each year to its general reserves until the accumulative amount of such reserves reaches 50% of its registered capital. These reserves are not distributable as cash dividends. Under PRC law, RMB is currently convertible into U.S. Dollars under a company's "current account," which includes dividends, trade and service-related foreign exchange transactions, without prior approval of the SAFE, but not from a company's "capital account," which includes foreign direct investments and loans, without the prior approval of the SAFE. As a result, the Company may have difficulty distributing any dividends outside of China due to PRC exchange control regulations that restrict the ability to convert RMB into U.S. Dollars. Going Concern Based on the Company's financial condition as of December 31, 2025, there is substantial doubt about the Company's ability to continue as a going concern for the next 12 months from the issuance of the consolidated financial statements. Management's plan to alleviate the substantial doubt includes working to improve liquidity and capital sources mainly through cash flow from operations, renewal of bank borrowings, equity or debt offerings, and borrowing from related parties. In order to fully implement its business plan and sustain operations, the Company may also seek equity financing from outside investors. At the present time, the Company does not have commitments of funds from any potential investors. There can be no assurance that additional financing, if required, would be available on favorable terms or at all, and/or that these plans and arrangements will be sufficient to fund the Company's ongoing capital expenditures, working capital, and other requirements. If the Company is unable to achieve these goals, its business will be jeopardized, and it may not be able to continue operations. A full text copy of the Company's Form 20-F is available at https://tinyurl.com/4bdjkwcw About Reto Eco-Solutions Reto Eco-Solutions, Inc., through its operating subsidiaries in China, is engaged in the manufacture and distribution of eco-friendly construction materials (aggregates, bricks, pavers and tiles), made from mining waste (iron tailings), as well as equipment used for the production of these eco-friendly construction materials. Headquartered in Beijing, Peoples Republic of China, the Company also provides consultation, design, project implementation and construction of urban ecological protection projects through its operating subsidiaries in China. It also provides parts, engineering support, consulting, technical advice and service, and other project-related solutions for its manufacturing equipment and environmental protection projects. As of December 31, 2025, the Company had $31.8 million in total assets, $7.1 million in total liabilities, and $24.7 million in total shareholders' equity. ROGERS HEALY: Employs Lindauer & Vaughn as Legal Counsel -------------------------------------------------------- Rogers Healy and Associates, LLC seeks approval from the U.S. Bankruptcy Court for the Northern District of Texas, Fort Worth Division to hire Lindauer & Vaughn to serve as legal counsel in its Chapter 11 case. The firm will provide these services: (a) represent the Debtor and Debtor-in-Possession in the Chapter 11 proceedings; (b) provide legal advice and services in connection with the Debtor's rights, powers, and duties in the bankruptcy case; (c) represent the interests of the Debtor and the bankruptcy estate; and (d) assist in the formulation, proposal, and implementation of a Plan of Reorganization, as well as handle other matters arising in the case. Lindauer & Vaughn will be compensated on these hourly rates: – Joyce W. Lindauer: $625 – Paul B. Geilich, Of Counsel: $595 – Paralegal services: $250 The firm received a pre-petition retainer of $21,738, which included the $1,738 filing fee paid by the Debtor. The Debtor will also reimburse the Firm for reasonable out-of-pocket expenses. All compensation is subject to approval under 11 U.S.C. Sec. 330 and applicable Bankruptcy Rules. Lindauer & Vaughn is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code, according to court filings, and has disclosed that it holds no adverse interests and has no disqualifying connections to the Debtor or other parties in interest. The Firm can be reached at: Joyce W. Lindauer, Esq. Lindauer & Vaughn 117 S. Dallas St. Ennis, TX 75119 Telephone: (972) 503-4033 Facsimile: (972) 503-4034 About Rogers Healy and Associates LLC Rogers Healy and Associates, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Tex. Case No. 26-41687) on April 15, 2026, with $0 to $50,000 in assets and $100,001 to $500,000 in liabilities. Judge Edward L. Morris presides over the case. Joyce W. Lindauer, Esq. at Joyce W. Lindauer Attorney, PLLC represents the Debtor as legal counsel. ROSE MECHANICAL: Commences Chapter 11 Bankruptcy in New York ------------------------------------------------------------ On May 4, 2026, Rose Mechanical Corp. 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 between 100 and 199 creditors. A meeting of creditors filed by the United States Trustee under Section 341(a) meeting to be held on 6/4/2026 at 02:00 PM at USA Toll-Free (888) 330-1716, USA Caller Paid/International Toll (713) 353-7024, Access Code 3913464. About Rose Mechanical Corp. Rose Mechanical Corp. is a mechanical contracting company that provides heating, ventilation, air conditioning, plumbing, and related construction services. The company operates in the commercial and industrial building services sector, handling installation, maintenance, and repair projects. Rose Mechanical Corp. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-71752) on May 4, 2026. In its petition, the Debtor reports estimated assets between $1 million and $10 million and estimated liabilities within the same range. Honorable Bankruptcy Judge Sheryl P. Giugliano handles the case. The Debtor is represented by Alex E. Tsionis, Esq. of Rosen, Tsionis & Pizzo, PLLC. S & A INDUSTRIAL: Employs Bassi Vreeland & Associates as Counsel ---------------------------------------------------------------- S & A Industrial Contracting, Inc. seeks approval from the U.S. Bankruptcy Court for the Western District of Pennsylvania to employ Bassi, Vreeland & Associates, P.C. as special counsel in its Chapter 11, Subchapter V bankruptcy case. Bassi, Vreeland & Associates, P.C. will provide these services: (a) addressing any activity necessary in the civil action captioned Crane 1 Services, Inc. v. George Koch, Steve Celaschi, John Celaschi, H&K Equipment Inc., S&A Industrial Contracting Inc., and Superior Industrial Contracting, Inc. at Case No. 1:25-cv-000315 to represent the Debtor's interest, (b) assisting Debtor's primary bankruptcy counsel with the evaluation and strategy around any claim filed by Crane 1, and (c) providing such other legal services as are necessary in relation to the said civil action. Bassi, Vreeland & Associates, P.C. will bill at an hourly rate of $350 billed in six-minute intervals. Legal costs and expenses advanced and/or incurred by the firm will be billed separately. Bassi, Vreeland & Associates, P.C. is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code, according to court filings. The firm can be reached at: Bradley M. Bassi, Esq. BASSI, VREELAND & ASSOCIATES, P.C. 62 East Wheeling St. Washington, PA 15301 Telephone: (724) 228-7000 Facsimile: (724) 228-7266 E-mail: bbassi@bmvlaw.com About S & A Industrial Contracting, Inc. S & A Industrial Contracting, Inc., based in Perryopolis, Pennsylvania, provides repair and maintenance services for commercial and industrial machinery and equipment. The company operates within the industrial services sector and serves customers that utilize crane and hoist systems, positioning it in the broader market for industrial equipment maintenance and support. S & A Industrial Contracting, Inc. filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. W.D. Pa. Case No. 26-20786) on March 20, 2026, listing $500,000 to $1 million in assets and $1 million to $10 million in liabilities. The petition was signed by Stephen Celesti as authorized representative of the Debtor. Judge Gregory L Taddonio oversees the case. Michael Shiner, Esq. at TUCKER ARENSBERG, P.C. serves as the Debtor's counsel. SAFE INNOVATION: To Employ BGV Law PLLC as Legal Counsel -------------------------------------------------------- SAFE INNOVATION INC. seeks approval from the U.S. Bankruptcy Court to hire Jerry Borbon, Esq. of BGV Law PLLC/Borbon & Associates, P.A. to serve as legal counsel in its Chapter 11 case. Mr. Borbon will provide these services: (a) give the Debtor and Debtor-in-Possession legal advice with respect to its powers and duties as a debtor in possession and the continued management of its business operations; (b) advise the Debtor with respect to its responsibilities in complying with the U.S. Trustee's Operating Guidelines and Reporting Requirements and with the rules of the court; (c) prepare motions, pleadings, orders, applications, adversary proceedings, and other legal documents necessary in the case; (d) protect the interests of the Debtor in all matters pending before the court; and (e) represent the Debtor in negotiation with its creditors in the preparation of a plan. Mr. Borbon will be compensated on a general retainer basis. Specific hourly rates or ranges were not disclosed in the application. BGV Law PLLC/Borbon & Associates, P.A. is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code. The firm can be reached at: Jerry Borbon, Esq. BGV Law PLLC/Borbon & Associates, P.A. 420 SW 7th St, #120 Miami, FL 33130 Telephone: (754) 457-5436 About Safe Innoviation Inc. Safe Innoviation, Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 26-14132) on April 01, 2026, with $0 to $50,000 in assets and $100,001 to $500,000 in liabilities. Judge Corali Lopez-Castro oversees the case. Jerry A. Borbon, Esq. represents the Debtor as legal counsel. SAINT AUGUSTINE'S: Taps Waldren Wall Babcok & Bailey as Counsel --------------------------------------------------------------- Saint Augustine's University seeks approval from the U.S. Bankruptcy Court for the Eastern District of North Carolina to employ Waldrep Wall Babcock & Bailey PLLC as counsel. The firm will provide these services: (a) advise the Debtor of its rights, powers, and duties; (b) advise the Debtor on all general bankruptcy matters; (c) prepare all necessary legal papers in connection with the administration of the Debtor's bankruptcy estate; (d) assist other professionals retained by the Debtor in the investigation of its acts, conduct, assets, liabilities, and financial condition, and any other matters relevant to this bankruptcy case or to the formulation of a plan of reorganization or liquidation; (e) represent the Debtor at all hearings on matters relating to its affairs and interests before this Court and any appellate courts, and protect its interests; (f) prosecute and defend any litigated matters that may arise during this bankruptcy case; (g) investigate the validity, extent, and priority of any secured claims against the Debtor's bankruptcy estate, and investigate the acts and conduct of such secured creditors and other parties to determine whether any causes of action may exist; (h) prepare, file, negotiate, present and implement plan of reorganization or liquidation, as appropriate; (i) represent the Debtor on matters relating to the assumption or rejection of executory contracts and unexpired leases; and (j) perform other necessary legal services for and on behalf of the Debtor that may be necessary or appropriate in the administration of this bankruptcy case. The firm will be paid at these hourly rates: Kevin Sink, Partner $575 Ciara Rogers, Partner $450 Jennifer Lyday, Partner $450 Robert Decker, Associate $300 Katherine Hayden, Paralegal $250 Marybeth Ford, Paralegal $250 In addition, the firm will seek reimbursement for expenses incurred. The firm received a $100,000 pre-petition retainer from the Debtor. Ms. Rogers disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Ciara L. Rogers, Esq. Waldrep Wall Babcock & Bailey PLLC 3600 Glenwood, Suite 210 Raleigh, NC 27612 Telephone: (919) 589-7985 Email: crogers@waldrepwall.com About Saint Augustine's University Saint Augustine's University sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.C. Case No. 26-01864) on April 27, 2026. In its petition, the Debtor disclosed up to $500 million in estimated assets and up to $100 million in estimated liabilities. Honorable Bankruptcy Judge David M. Warren handles the case. The Debtor is represented by Ciara L. Rogers, Esq., at Waldrep Wall Babcock & Bailey PLLC. SANDY HOOK INVESTMENTS: Seeks Subchapter V Bankruptcy in Florida ---------------------------------------------------------------- On May 4, 2026, Sandy Hook Investments, LLC filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the Southern District of Florida. According to court filings, the debtor reports between $100,001 and $1 million in debt owed to between 1 and 49 creditors. About Sandy Hook Investments, LLC Sandy Hook Investments, LLC is believed to operate as a real estate investment and property holding company based in Florida. Sandy Hook Investments, LLC sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-15777) on May 4, 2026. In its petition, the debtor reported estimated assets between $1 million and $10 million and estimated liabilities between $100,001 and $1 million. Honorable Bankruptcy Judge Scott M. Grossman handles the case. The debtor is represented by Adam I. Skolnik, Esq. SASAS HOSPITALITY: Claims to be Paid from $100K Carveout -------------------------------------------------------- SASAS Hospitality, LLC, filed with the U.S. Bankruptcy Court for the Northern District of Illinois a Disclosure Statement describing Chapter 11 Plan dated April 29, 2026. The Debtor has liquidated its assets to enable payments to creditors in accordance with the terms of the proposed Plan of Liquidation. The only payments to be made to any creditors under this Plan shall be from the $100,000.00 carve out. This Plan provides for distributions to the holders of allowed claims from a carve out of a total of $100,000.00 from the sale in March, 2026 of the hotel owned by the Debtor located at 5105 S. Howell Avenue, Milwaukee, Wisconsin 53207 including all permanent buildings and other improvements thereon, all easements, rights of way, reservations, privileges, appurtenances, and other estates and rights of Seller pertaining to the land and improvements, and all tangible and intangible and personal property, including without limitation, all equipment, furniture fixtures, inventories, supplies, licenses, permits, warranties, guarantees, plans, phone numbers, and other assets used exclusively in connection with the ownership, use, operation or maintenance of the Property as described herein and the "Best Western" hotel operated from the Property ("Hotel") generated through the liquidation of the Debtor's assets. To that extent, 1) all Administrative Claims will be paid in full except for attorney fees (as funds permit) and if there are insufficient funds to pay all Administrative Claims those claims shall be paid pro rata; 2) all Unsecured Priority Claims will be paid in full (as funds permit) and if there are insufficient funds to pay all Unsecured Priority Claims those claims shall be paid pro rata; and 3) all Unsecured Non-Priority Claims will be paid in full (as funds permit) and if there are insufficient funds to pay all Unsecured Non-Priority Claims those claims shall be paid pro rata. It is unlikely that any payment will be made to unsecured non priority creditors. After the Distribution of the $100,000.00, the Debtor will be dissolved as an entity and any remaining debt will not be paid. In general, the Debtor will pay Administrative Claims (One Class), Priority Claims (Three Class) and General Unsecured Creditors. Class 1 consists of Allowed General Unsecured Claims. Debtor has attached a detailed list of creditors that lists the allowed general unsecured creditors totaling a balance of $5,300,305.78. Distributions to General Unsecured Creditors shall be paid from the $100,000.00 carve out after the payment to Administrative Claimants and Priority Creditors pro rata. No distribution to general unsecured creditors is anticipated. The Plan is self-executing. The Debtor shall not be required to execute any newly created documents to effectuate the terms of the Plan. The Debtor will fund this Plan only through the $100,000.00 carve out. The Plan is feasible given the carve out of $100,000.00 and the disbursement of funds proposed. A full-text copy of the Disclosure Statement dated April 29, 2026 is available at https://urlcurt.com/u?l=j5Z7wR from PacerMonitor.com at no charge. SASAS Hospitality, LLC is represented by: Paul M. Bach, Esq. Penelope N. Bach, Esq. Bach Law Offices, Inc. P.O. Box 1285 Northbrook, IL 60062 Telephone: (847) 564 0808 About SASAS Hospitality LLC SASAS Hospitality, LLC, is a hospitality company that owns a property at 5105 S Howell Ave, Milwaukee, Wis. SASAS Hospitality filed a Chapter 11 petition (Bankr. N.D. Ga. Case No. 25-03643) on March 10, 2025, listing between $1 million and $10 million in both assets and liabilities. Judge Jacqueline P. Cox handles the case. Paul M. Bach, at Bach Law Offices, is the Debtor's bankruptcy counsel. Albany Bank & Trust Company, as secured creditor, is represented by: David A. Golin, Esq. Saul Ewing, LLP 161 North Clark Street, Suite 4200 Chicago, IL 60601 Phone: (312) 876-7100 E-mail: david.golin@saul.com SENSEONICS HOLDINGS: Preliminary Q1 2026 Shows $11.7MM Revenue -------------------------------------------------------------- Senseonics Holdings, Inc. disclosed in a regulatory filing that although it has not finalized its full financial results for the quarter ended March 31, 2026, it expects to report the following selected financial information as of and for the quarter ended March 31, 2026: * revenue of approximately $11.7 million; * gross profit of approximately $6.4 million; * gross margin of approximately 54%; * net loss between $31 million and $33 million; * cash, cash equivalents, short-term investments and restricted cash of approximately $64.6 million; * stockholders' equity of between $33.7 million and $35.7 million. The preliminary financial information are estimates based on information available to management as of the date of this report, have not been reviewed or audited by the Company's independent registered public accounting firm and are subject to change. Senseonics plans to announce our financial results for the quarter ended March 31, 2026 on May 7, 2026. The Company's actual reported financial results and financial condition as of and for the quarter ended March 31, 2026 may differ materially from the preliminary financial information presented in this report. The preliminary financial information presented in this report should not be viewed as a substitute for full financial statements prepared in accordance with GAAP and reviewed by the Company's independent registered public accounting firm. About Senseonics Holdings, Inc. Senseonics Holdings, Inc. is a commercial-stage medical technology company focused on the development and manufacturing of glucose monitoring products designed to transform lives in the global diabetes community with differentiated, long-term implantable glucose management technology. Baltimore, Maryland-based KPMG LLP, the Company's auditor since 2022, issued a "going concern" qualification in its report dated March 2, 2026, citing that the Company has determined that it may not meet its covenants as early as the third quarter of 2026. Further, the Company will require additional liquidity to continue its operations over the next 12 months. Therefore, the Company concluded that substantial doubt exists about its ability to continue as a going concern for the one-year period following the date the consolidated financial statements are issued. As of December 31, 2025, the Company had $126.3 million in total assets and $65.2 million in total liabilities, and total stockholders' equity of $61 million. SENSEONICS HOLDINGS: Proposes $40MM Boost to Hercules Loan Capacity ------------------------------------------------------------------- Senseonics Holdings, Inc. disclosed in a regulatory filing that the Company, through its wholly-owned subsidiary, Senseonics, Inc., has entered into a non-binding term sheet with Hercules Capital, Inc. setting forth the proposed terms and conditions for an amendment to the existing Loan and Security Agreement between the Borrower and Hercules. If consummated on the terms contemplated by the term sheet, the Second Amendment would increase the maximum borrowing capacity under the Company's facility from $100.0 million to $140.0 million. In addition to $35 million of borrowings currently outstanding under the existing facility, if effected in accordance with the term sheet, the Second Amendment would: * provide for $20 million of near-term loan commitments to be available, consisting of: (i) a $10 million advance under a second tranche to be funded at the closing of the Second Amendment and (ii) a $10 million commitment under a third tranche available at the Company's option through September 15, 2026, subject to the Company's satisfaction of a capital raising milestone, which it expects to satisfy through the net proceeds of the Underwriting Agreement with TD Securities (USA) LLC and Barclays Capital Inc., dated April 30, 2026; and * provide for up to an additional $85.0 million future tranches of term loans, subject to the Company's satisfaction of certain terms and conditions and, with respect to the last $60.0 million uncommitted tranche, future lender investment committee approval. After giving effect to the amended facility and the funding of Tranche 2 and Tranche 3A, as of December 31, 2025, the Company's as adjusted total debt outstanding under the Loan and Security Agreement would have been approximately $55.0 million. The Company currently anticipates that it will finalize and enter into the Second Amendment in early May 2026. However, the term sheet is non-binding and the Second Amendment of the loan facility is subject to the negotiation and execution of definitive legal documentation, formal approval by Hercules and the satisfaction or waiver of customary closing conditions. About Senseonics Holdings, Inc. Senseonics Holdings, Inc. is a commercial-stage medical technology company focused on the development and manufacturing of glucose monitoring products designed to transform lives in the global diabetes community with differentiated, long-term implantable glucose management technology. Baltimore, Maryland-based KPMG LLP, the Company's auditor since 2022, issued a "going concern" qualification in its report dated March 2, 2026, citing that the Company has determined that it may not meet its covenants as early as the third quarter of 2026. Further, the Company will require additional liquidity to continue its operations over the next 12 months. Therefore, the Company concluded that substantial doubt exists about its ability to continue as a going concern for the one-year period following the date the consolidated financial statements are issued. As of December 31, 2025, the Company had $126.3 million in total assets and $65.2 million in total liabilities, and total stockholders' equity of $61 million. SHURAYA ENTERPRISES: Seeks Subchapter V Bankruptcy in New Jersey ---------------------------------------------------------------- On May 5, 2026, Shuraya Enterprises Limited Liability Company filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the District of New Jersey. According to court filings, the debtor reports between $1 million and $10 million in debt owed to between 1 and 49 creditors. About Shuraya Enterprises Limited Liability Company Shuraya Enterprises Limited Liability Company is believed to operate as a diversified business enterprise involved in commercial, investment, or service-related activities in New Jersey. Shuraya Enterprises Limited Liability Company sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-15128) on May 5, 2026. In its petition, the debtor reported estimated assets between $100,001 and $1 million and estimated liabilities between $1 million and $10 million. The debtor is represented by Eric S. Landau, Esq. of Law Office of Eric S. Landau. SKYBOUND PROPERTIES: Wilmington Property Sale to Gary London OK'd ----------------------------------------------------------------- The U.S. Bankruptcy Court for the Eastern District of North Carolina, Fayetteville Division, has permitted Skybound Properties LLC, to sell Property, free and clear of liens, claims, interests, and encumbrances. The Debtor is a North Carolina limited liability company engaged in the residential real estate rental business. The Debtor owns apartments located on 2.34 acres of land known as 407 Maides Avenue, Wilmington, North Carolina. The Court has authorized the Debtor to sell the Property to Gary London for the purchase price of $2,800,000.00. The Property shall be sold, transferred, and conveyed to the Purchaser, and the sale, transfer, and conveyance of the Property shall vest in the Purchaser all rights, title, and interest in the Property free and clear of any and all interests, liens, encumbrances, rights, or claims in the Property. The sale proceeds of the Property shall be subject to the reasonable and necessary costs and expenses of preserving or disposing of such property, to the extent of any benefit to the holder of an allowed secured claim. Secured creditors with valid, perfected liens are entitled to receipt of the net proceeds of sale, after payment of closing costs. A sale by the Debtor of the Property, as disclosed in the Motion, is in the best interest of the Estate and interested parties to this proceeding. From the proceeds of sale, the Debtor, through the attorney conducting the real estate closing, shall pay the outstanding property taxes for 2024 and 2025, and any pro rated property for 2026; normal closing and recording costs typically paid by sellers in New Hanover County; a 3% commission to LPT Realty, LL; the Section 506(c) costs incurred by the Debtor including quarterly fees incurred as a result of the sale to be delivered to counsel for the Debtor and held in trust pending approval of all Section 506(c) fees; and the payoff of the first priority deed of trust of BD Capital SE, LLC, including accruing interest through the date of payment. About Skybound Properties, LLC Skybound Properties, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. N.C. Case No. 26-01678) on April 14, 2026, with between $10 million and $50 million in both assets and liabilities. Judge David M. Warren oversees the case. Laurie B. Biggs, Esq., at Biggs Law Firm, PLLC, represents the Debtor as bankruptcy counsel. SLX - I DRIVE: Section 341(a) Meeting of Creditors on June 1 ------------------------------------------------------------ On April 28, 2026, Slx - I Drive, LLC filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Middle District of Florida. According to court filings, the Debtor reports between $1 million and $10 million in debt owed to between 1 and 49 creditors. A meeting of creditors under Section 341(a) to be held on June 1, 2026 at 11:00 AM. U.S. Trustee (Orl) will hold the meeting telephonically. Call in Number: 888-330-1716. Passcode: 5814238#. About Slx - I Drive, LLC Slx - I Drive, LLC is a Florida-based business involved in commercial operations and property-related activities connected to the International Drive corridor. The company manages business and operational assets associated with hospitality and retail-oriented developments. Slx - I Drive, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-03078) on April 28, 2026. In its petition, the Debtor reports estimated assets between $1 million and $10 million and estimated liabilities in the same range. The case is pending in the Middle District of Florida bankruptcy court. The Debtor is represented by Melissa A. Youngman, Esq. of Winter Park Estate Plans & Reorgs. SMART COMMUNICATIONS: Hires Stearns Weaver as Special Counsel ------------------------------------------------------------- Smart Communications Holding, Inc. and Smart Communications Collier, Inc. seek approval from the U.S. Bankruptcy Court for the Middle District of Florida to employ Stearns Weaver Miller Weissler Alhadeff & Sitterson, PA as special counsel. The firm will prosecute and defend the Debtors in the matter styled Jonathan Logan, et al. v. Janice Logan, et al., pending in the Twelfth Judicial Circuit for Sarasota County, Florida, Case Nos. 2023-CA-1002 and 2023-CA-1280. The firm's attorneys will be paid at these hourly rates: Other Attorneys $200 - $1,000 Michael Harwin, Attorney $695 In addition, the firm will seek reimbursement for expenses incurred. Mr. Harwin disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Michael J. Harwin, Esq. Stearns Weaver Miller Weissler Alhadeff & Sitterson, PA 401 East Jackson Street, Suite 2100 Tampa, FL 33602 About Smart Communications Holding LLC Smart Communications Holding, LLC and Smart Communications Collier, Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 25-09473) on December 16, 2025, with $0 to $50,000 in assets and $1,000,001 to $10 million in liabilities. The case is jointly administered in Case No. 26-00146. Judge Roberta A. Colton presides over the case. The Debtor tapped Eric D. Jacobs, Esq., at Venable LLP as bankruptcy counsel and Matthew M. Haar, Esq., at Saul Ewing LLP and Michael J. Harwin, Esq., at Stearns Weaver Miller Weissler Alhadeff & Sitterson, PA as special counsel. SMITH MICRO: Net Loss Drops to $3.9M in Q1, Going Concern Remains ----------------------------------------------------------------- Smith Micro Software, Inc. filed its Quarterly Report on Form 10-Q with the U.S. Securities and Exchange Commission, reporting a net loss of $3.9 million for the three months ended March 31, 2026, compared to a net loss of $5.2 million for the same period in the prior year. Revenues for the three months ended March 31, 2026 were $4.2 million, compared to $4.6 million in the prior-year period. Liquidity and Capital Resources As of March 31, 2026, the Company's cash and cash equivalents were approximately $1.7 million. Since the beginning of 2025, the Company has utilized cash collections, including the proceeds from the sale of its ViewSpot product and cash on hand, to cover routine working capital requirements. On July 18, 2025, the Company closed on a registered direct offering of common stock and a concurrent placement of warrants, which provided gross proceeds of approximately $1.5 million, prior to offering fees and transaction expenses. On each of September 11 and September 29, 2025, the Company entered into loan arrangements providing aggregated gross cash proceeds of approximately $1.2 million as of September 30, 2025. On February 3, 2026, the Company received approximately $1.0 million in gross proceeds via a loan transaction and accompanying issuance of unregistered common stock purchase warrants. Subsequently, on March 4, 2026, the Company received gross cash proceeds of $4.9 million from the sale of secured convertible notes - with $1.9 million of that amount used to pay off loans incurred in September 2025 - and warrants to acquire up to an aggregate of approximately 9.4 million additional shares of the Company's common stock. The timing of anticipated revenue growth relative to the costs of operating, maintaining, innovating and evolving the Company's business may result in cash and cash equivalents being insufficient to fund operations at current levels over the next twelve months and beyond. This adverse impact on liquidity does not trigger a violation of any covenants in the Company's material agreements, as all agreements for the transactions discussed herein do not contain any material financial covenants. Going Concern As a result of these uncertainties, and notwithstanding management's plans and efforts to date, the Company has been unable to alleviate substantial doubt about its ability to continue as a going concern within one year from the date the financial statements are issued. Management believes that actions presently being taken to expand subscriber growth, acquire new customers, and expand offerings to existing customers to generate increased revenues - and, if necessary, to raise additional capital - will support the Company's operations. The Company believes, based on its history of completing debt and equity financings, that it would be able to raise additional funds as necessary through public or private equity offerings, debt financings, or a combination of these funding sources. However, it may not be able to secure such incremental capital in a timely manner or on favorable terms, if at all. To preserve liquidity, the Company may also take one or more of the following additional actions: implement additional restructuring and cost reductions; secure a revolving line of credit, if available; dispose of one or more product lines; and/or sell or license intellectual property. While management believes that the Company's plans for growing revenue and the other potential actions available to it would alleviate the conditions that raise substantial doubt, these strategies are not entirely within the Company's control and cannot be assessed as being probable of occurring. A full text copy of the Company's Form 10-Q is available at https://tinyurl.com/bbzt4sc6 About Smith Micro Smith Micro Software, Inc., headquartered in Pittsburgh, Pennsylvania, provides software solutions designed to enhance the mobile experience for wireless service providers globally. The Company's offerings include family safety software and visual voice messaging, targeting digital lifestyle services, online safety, automotive telematics, and consumer Internet of Things (IoT) applications. It focuses on leveraging technology and data analytics to meet customer needs and support connected lifestyles. SingerLewak LLP (the Company's independent registered public accounting firm since 2005 and headquartered in Los Angeles, Calif.) included an explanatory paragraph in its audit report dated March 5, 2026, expressing substantial doubt about the Company's ability to continue as a going concern. The auditor cited that the Company has suffered recurring losses from operations and has projected cash flow requirements to meet continuing operations in excess of current available cash. This raises substantial doubt about the Company's ability to continue as a going concern. As of March 31, 2026, the Company had $75.8 million in total assets, $3.1 million in total liabilities, and $18.3 million in total stockholders' equity. SOUTH FLORIDA BARBEQUE: SBA Wants Receiver for $238,874 Unpaid Debt ------------------------------------------------------------------- The Small Business Administration, an agency of the United States of America, filed a motion with the U.S. District Court for the Southern District of Florida, seeking the appointment of Stephen Engel as receiver for South Florida Barbeque of Eustis, Inc. SBA obtained a judgment against a borrower on a defaulted unsecured loan. In its original complaint, SBA alleged Dale P. Coyne, individually and on behalf of BBQ, executed a promissory note and guaranty dated April 23, 2020, in the amount of $173,855.00, payable to First Midwest Bank. SBA is the holder of the promissory note and guaranty. Defendants failed to make payment when due; Plaintiff exercised its right to collect. The amount owed by the Defendants as of Aug. 12, 2025, including interest, is $238,874.26, plus costs and attorney fees. Interest accrues at 1.0% per annum and daily penalties accrue at $4.76. Plaintiff demanded payment from the Defendants, but payment has not been made. Plaintiff performed a thorough investigation as to Coyne's assets and located a vacant parcel of land in Plainfield, Illinois. The land is valued at anywhere from $150,000.00 to $200,000.00. Plaintiff obtained an abstract of judgment from the Clerk of the Court, and recorded the same in Will County, Illinois, where the property is located and obtained a Writ of Execution from this Court. The United States Marshall in Illinois has indicated it does not conduct Marshal sales and instead advised that private sales have become the norm. Plaintiff researched the area for receivers and learned that the property in question would be best served by a real estate agent acting as a receiver working pursuant to an Order from this Court. Plaintiff seeks appointment of a receiver to: A. preserve and maintain the property as necessary, B. professionally market the subject property, and C. maximize recovery through a Court-supervised and approved private sale Given the nature of the collateral -- a vacant lot in a housing development -- SBA believes a United States Marshal's sale would not yield fair market value. A receivership, as requested, by contrast, would allow for active management, broker-driven marketing, structured sale procedures consistent with commercial practice, and a sale only upon court approval. According to SBA: 1. Defendants defaulted under loan obligations owed to SBA. 2. This Court entered Final Judgment on March 4, 2026, authorizing enforcement. 3. The Clerk of the Court issued a Writ of Execution on March 30, 2026. 4. SBA now holds a secured interest in the real property located on South McKenna Drive in Plainfield, Illinois, PIN# 06-03-28-101-004-0000. 5. The Property is a vacant asset that requires minimal preservation and moderate maintenance, and professional marketing to appropriate buyers. 6. Without court intervention, Plaintiff would not be able to have the subject property sold. The value of the Property may diminish due to a lack of oversight or market exposure. SBA contends it is authorized under Federal Rule of Civil Procedure 66 to seek the appointment of receivers in federal court to protect its collateral and enforce its rights. As the Plaintiff is proceeding under a Writ of Execution pursuant to the Federal Debt Collection Procedures Act, the Court has the authority to "make an order denying, limiting, conditioning, regulating, extending, or modifying the use of any enforcement procedure," including the procedure for enforcing a writ of execution. Courts routinely approve receiver-conducted sales with appropriate safeguards, including appraisal and confirmation procedures. The Property is a vacant waterfront parcel in a development requiring exposure to a targeted buyer pool. A receiver would provide multiple listing service (MLS) and broker exposure, negotiated deal-making, due diligence coordination, and structured bidding procedures. Absent a receiver and Court Order, the Property could not be sold, and the SBA judgment would not be satisfied. Federal courts consistently recognize SBA's right to seek receivership relief to protect collateral, particularly where a loan is in default, collateral is at risk of waste or diminished value, and liquidation requires specialized handling. SBA says a receiver can implement a transparent, court-supervised sale process including broker listing, marketing period, competitive bidding, and court approval. This ensures both fairness and value maximization. Significantly, the cost of a typical corporate receiver would make the sale of the property financially impractical. The proposed receiver would work on a typical commission basis to facilitate the property sale. The proposed receiver is competent to administer the Property and carry out the Court's directives. Plaintiff interviewed and proposes Stephen Engel, a qualified and disinterested receiver. Mr. Engel has 38 years of full-time experience in real estate and 25 years as a Designated Managing Broker. He offers unmatched expertise, mentorship, and leadership in the industry. A lifelong resident of Chicago and -- including DuPage and Will Counties -- Mr. Engel combines deep local knowledge with real-world experience as both a broker and investor in Illinois and Florida. His commitment to professional excellence is matched by his history of service, having served on the Government Affairs Committee for the Mainstreet Organization of REALTORS, the Board of Directors for the Three Rivers Association of REALTORS, and the Valley View School Board of Education. Mr. Engel is deeply rooted in community leadership, with roles including Founding President of the Romeoville Exchange Club and past board positions with the Valley View Educational Enrichment Foundation and the RHS Baseball Dugout Club. Plaintiff requests that the receiver be authorized to: 1. Take immediate possession and control of the Property; 2. Secure and maintain the Property; 3. Market the Property; 4. Enter contracts necessary for preservation and sale; 5. Execute a purchase agreement subject to Court approval. The receiver and retained professionals shall be compensated as follows: 1. Receiver Fees: Standard real estate commission of three percent. The receiver will only get paid if the property sells pursuant to a court-approved sale. 2. All fees and expenses, including the buyer's agent commission, shall be paid from sale proceeds, subject to Court approval. Plaintiff proposes the Court-approved sale framework: A. The Property shall be listed with the receiver, who is also a licensed real estate broker. The listing shall be on MLS and other commercial platforms with a minimum of 90 days marketing period. B. Receiver may accept the highest and best offer, subject to Court approval, with a deposit (e.g., 10%) required from the proposed purchaser. C. One or more independent appraisals shall be obtained. Sale price shall not be less than two-thirds of appraised value unless otherwise approved by the Court. D. If competing offers are received, the receiver may conduct an auction (in person or virtual), subject to Court oversight. E. For the Court approval, the final sale shall be subject to Court confirmation. About South Florida Barbeque of Eustis, Inc. South Florida Barbeque of Eustis, Inc. owns a real property located at South McKenna Drive in Plainfield, Illinois. South Florida Barbeque was slapped with a debt collection lawsuit captioned as Small Business Administration, an agency of the United States of America v. South Florida Barbeque of Eustis, Inc. et al., Case No. 2:25-cv-14326 (S.D. Fla.), before the Hon. Donald M. Middlebrooks. The case was filed on Sept. 18, 2025. The Small Business Administration is represented by: Steven M. Davis, Esq. 13611 S. Dixie Highway, Unit 407 Miami, FL 33176 Tel: (786) 505-9996 E-mail: steve@sdavislawyers.com SPARHAWK LLC: Trustee Hires Newpoint Advisors as Financial Advisor ------------------------------------------------------------------ Matthew Brash, the trustee appointed in the Chapter 11 cases of Sparhawk, LLC and its affiliates, seeks approval from the U.S. Bankruptcy Court for the Western District of Wisconsin to employ Newpoint Advisors Corporation as financial advisor. The firm will provide these services: (a) assist the trustee with taking immediate operational control of the Debtors' business in Wisconsin Rapids on Day 1 of his appointment; (b) take logical custody of the Debtors' books, records, and electronic systems; (c) establish and administer estate trustee-in-possession (TIP) bank accounts; if advisable change the DIP bank-account signatories; setting up daily cash-management protocols, (d) prepare and maintain a 13-week rolling cash-flow forecast and budget; (e) support the trustee in connection with first-day, second-day, cash-collateral, and TIP-financing motions; (f) prepare the Debtors' monthly operating reports (MORs); calculate quarterly United States Trustee fees; prepare and file initial reports under Federal Rule of Bankruptcy Procedure 2015.3; and support all financial-reporting obligations imposed on the trustee; (g) confirm and maintain insurance coverage in force across the Debtors' fleet; confirm the currency of regulatory registrations and filings; and coordinate with brokers, carriers, and regulators as necessary; (h) conduct a physical inventory of the Debtors' rolling stock and titled equipment; (i) assist the trustee with the investigation contemplated by 11 U.S.C. Sec. 1106(a)(3) and (a)(4); (j) administer the claims reconciliation process; (k) prepare liquidation analysis under Chapter 7 (the so-called "liquidation waterfall") and a going-concern enterprise-valuation range for the Debtors' operating business; (l) support any sale process under 11 U.S.C. Section 363; (m) quantify potential exposure on, and recoveries from, avoidance actions; (n) prepare the financial exhibits to any disclosure statement and Chapter 11 plan; (o) coordinate with an independent tax accountant retained by the trustee with respect to estate tax filings (federal and Wisconsin and any other applicable jurisdictions), highway-use and IFTA filings, Forms 1099 issuance, and any Section 505 determinations; (p) administer distributions under any confirmed plan or sale order; and (q) provide such other financial-advisory, operational, and analytical services as the trustee may reasonably request in furtherance of his duties under the Bankruptcy Code. The hourly rates of the firm's professionals are as follows: Matthew Brash, Senior Managing Director $450 Tim Stone, Senior Managing Director $450 Graham McFarland, Managing Director $430 Tyler Brasher, Managing Director $430 In addition, the firm will seek reimbursement for expenses incurred. Kenneth Yager, president at Newpoint Advisors, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Kenneth R. Yager Newpoint Advisors Corporation 750 Old Hickory Blvd., Building 2, Suite 150 Brentwood, TN 37027 Telephone: (800) 306-1250 About Sparhawk LLC Sparhawk LLC and affiliated entities -- Sparhawk Trucking, Inc., Sparhawk Properties, LLC; and Sparhaw Truck and Trailer, Inc. -- support trucking operations, equipment management and property holdings related to the group's transportation activities. Founded in 1981, the Sparhawk group operates within the general freight trucking industry in the United States. Sparhawk and its affiliates sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Wis. Lead Case No.26-10527) on March 13, 2026. In the petition signed by Mark A. Sparhawk, sole member, Sparhawk disclosed up to $10 million in both assets and liabilities. Judge Catherine J Furay oversees the cases. Jerome R. Kerkman, Esq., and Nicholas W. Kerkman, Esq., at Kerkman & Dunn, represent the Debtors as legal counsel. Matthew Brash is appointed as trustee appointed in these Chapter 11 cases. The trustee tapped Swanson Sweet LLP as counsel and Newpoint Advisors Corporation as financial advisor. SPARHAWK LLC: Trustee Hires Swanson Sweet as Bankruptcy Counsel --------------------------------------------------------------- Matthew Brash, the trustee appointed in the Chapter 11 cases of Sparhawk, LLC and its affiliates, seeks approval from the U.S. Bankruptcy Court for the Western District of Wisconsin to employ Swanson Sweet LLP as counsel. The firm will provide these services: (a) assist the trustee with fulfilling his obligations under Section 1106; (b) advise the trustee and take all necessary action to protect and preserve the Debtors' estate; (c) prepare pleadings in connection with the Chapter 11 cases; (d) appear at and be involved in various proceedings before the Court; (e) if necessary, analyze claims and prosecute any meritorious claim objections; (f) serve as general counsel in the context of all bankruptcy-related matters involving the trustee; (g) assist the trustee with reviewing, analyzing, and (if necessary) objecting, to proofs of claim filed in these Chapter 11 cases; (h) assist the trustee with operating the Debtors' business; and (i) work with the trustee and his other professionals to facilitate the economic and efficient administration of the Debtors' bankruptcy estate. The firm will be paid at these hourly rates: Rebecca DeMarb, Partner $675 Virginia George, Partner $675 Michael Jurkash, Associate $340 Benjamin Karbowski, Associate $295 Sydney Haase, Paralegal $195 In addition, the firm will seek reimbursement for expenses incurred. Ms. George disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Virginia E. George, Esq. Swanson Sweet LLP 107 Church Avenue Oshkosh, WI 54901 Telephone: (920) 235-6690 About Sparhawk LLC Sparhawk LLC and affiliated entities -- Sparhawk Trucking, Inc., Sparhawk Properties, LLC; and Sparhaw Truck and Trailer, Inc. -- support trucking operations, equipment management and property holdings related to the group's transportation activities. Founded in 1981, the Sparhawk group operates within the general freight trucking industry in the United States. Sparhawk and its affiliates sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Wis. Lead Case No.26-10527) on March 13, 2026. In the petition signed by Mark A. Sparhawk, sole member, Sparhawk disclosed up to $10 million in both assets and liabilities. Judge Catherine J Furay oversees the cases. Jerome R. Kerkman, Esq., and Nicholas W. Kerkman, Esq., at Kerkman & Dunn, represent the Debtors as legal counsel. Matthew Brash is appointed as trustee appointed in these Chapter 11 cases. The trustee tapped Swanson Sweet LLP as counsel and Newpoint Advisors Corporation as financial advisor. SUNATION ENERGY: Scott Maskin Holds 16.6% Equity Stake ------------------------------------------------------ Scott Maskin disclosed in a Schedule 13D (Amendment No. 1) filed with the U.S. Securities and Exchange Commission that as of April 14, 2026, he beneficially owns 554,736 shares of SUNation Energy, Inc.'s Common Stock, $0.05 par value per share, representing 16.6% of the shares outstanding. The number of shares beneficially owned reflects adjustments for the Company's 1-for-200 reverse stock split effected on April 9, 2025, 1-for-50 reverse stock split effected on October 17, 2024, and the 1-for-15 reverse stock split effected on June 12, 2024. On April 14, 2026, the Reporting Person exchanged debt pursuant to a debt conversion agreement for 554,712 shares of the Company's Common Stock. Additional shares were previously acquired as follows: 513,300 shares received as part of the consideration for the sale of SUNation Solar Systems, Inc. and five affiliated entities to the Company on November 9, 2022, and 10,775 shares acquired on June 30, 2023 through the Company's 2022 Employee Stock Purchase Plan (all share figures adjusted for subsequent reverse stock splits). Scott Maskin may be reached through: Scott Maskin, Chief Executive Officer and Director SUNation Energy Inc. 171 Remington Blvd., Ronkonkoma, NY 11779 Tel: (631) 750-9454 A full-text copy of Scott Maskin's SEC report is available at: https://tinyurl.com/3u2khmmd About SUNation Energy SUNation Energy Inc., formerly known as Pineapple Energy Inc., is focused on growing leading local and regional solar, storage, and energy services companies nationwide. Melville, N.Y.-based CBIZ CPAs P.C., the Company's auditor since 2025, issued a "going concern" qualification in its report dated March 20, 2026, citing that the Company has incurred significant losses and needs to raise additional funds to meet its obligations and sustain its operations. These conditions raise substantial doubt about the Company's ability to continue as a going concern. As of December 31, 2025, the Company had $48.2 million in total assets, $15.4 million in total current liabilities, $8.5 million in total long-term liabilities, and $24.3 million in total shareholders' deficit. SUPERIOR METAL: Seeks to Extend Plan Exclusivity to Oct. 19 ----------------------------------------------------------- Superior Metal Treating and Equipment, Inc., asked the U.S. Bankruptcy Court for the Western District of Missouri to extend its exclusivity periods to file a plan of reorganization and obtain acceptance thereof to Oct. 19 and Dec. 18, 2026, respectively. The Debtor's utility services were shut off when it filed its case, and it has taken some time for the Debtor to resume. Through no fault of the Debtor, the KC Water had a pipe burst up the street, which required additional time for the pipe to be fixed in a manner that provided the water pressure required for production. When Spire finally attempted to restore gas services, it was discovered that various issues with several gas lines required immediate repairs to provide adequate pressure for production, which took approximately two weeks to complete. The Debtor was finally able to resume partial production on April 16, 2026. Further, the Debtor is still in the process of employing various professionals to assist it. The Debtor has filed applications to employ an accountant and special counsel to assist it in claims against third parties in the near future. The Debtor explains that it requires the services of the professional in order to propose a confirmable Chapter 11 Plan and Disclosure Statement. Further, the Debtor has filed a motion requesting that this Court set bar dates for the filing of governmental and non-governmental Proof of Claims. The Debtor further states that additional time is needed to prepare and file their confirmable Chapter 11 Plan. The Debtor asserts that the extension of time for the filing of the Plan and Disclosure Statement and the extension of time for the exclusivity periods will not work a hardship on creditors and is in the best interest of all parties to allow the Debtor time to complete the employment of and consultation with an accountant and special counsel so that they can work to formulate the Debtor's Chapter 11 Plan. The Debtor's Counsel: Colin N. Gotham, Esq. EVANS & MULLINIX, P.A. 7225 Renner Road, Suite 200 Shawnee, KS 66217 Tel: (913) 962-8700 Fax: (913) 962-8701 E-mail: cgotham@emlawkc.com About Superior Metal Treating and Equipment Superior Metal Treating and Equipment, Inc., a commercial heat treating company with more than 65 years of experience, provides full-service processing for metal parts. Its offerings include hardening, carburizing, vacuum treatment, salt bath, austempering, ferritic nitrocarburizing, annealing, stress relieving, normalizing, tempering, deep freeze, induction hardening, flame hardening and black oxide. The company's 50,000-square-foot facility supports customized projects and testing. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Mo. Case No. 26-40489) on March 23, 2026, with $1 million to $10 million in assets and liabilities. Jeffrey Herman, president, signed the petition. Colin N. Gotham, at EVANS & MULLINIX, P.A., is serving as the Debtor's legal counsel. SWIFTSHIPS LLC: Committee Hires Kelly Hart Pitre as Legal Counsel ----------------------------------------------------------------- The official committee of unsecured creditors appointed in the Chapter 11 case of Swiftships, LLC seeks approval from the U.S. Bankruptcy Court for the Western District of Louisiana to employ Kelly Hart Pitre as counsel. The firm will provide these services: (a) advise the committee with respect to its rights, duties, and powers in the Bankruptcy Case; (b) assist and advise the committee in its consultations with the Debtor relative to the administration of the Bankruptcy Case; (c) assist the committee in analyzing the claims of the Debtor's creditors and its capital structure and negotiate with holders of claims; (d) assist the committee in its investigation of the acts, conduct, assets, liabilities, and (e) assist the committee in its investigation of the liens and claims of the Debtor's lenders and judgment creditors and the prosecution of any claims or causes of action revealed by such investigation; (f) assist the committee in its analysis of, and negotiations with, the Debtor or any third-party concerning matters related to, among other things, the assumption or rejection of leases of nonresidential real property and executory contracts, asset dispositions, financing or other transactions, and the terms of one or more plans of reorganization for the Debtors and accompanying disclosure statements and related plan documents; (g) assist and advise the committee in communicating with unsecured creditors regarding significant matters in the Bankruptcy Case; (h) represent the committee at hearings and other proceedings; (i) review and analyze application, orders, statements of operations, and schedules filed with the Court and advise the committee as to their propriety; (j) assist the committee in preparing pleadings and applications as may be necessary in furtherance of its interests and objectives; (k) prepare, on behalf of the committee, any pleadings; and (l) perform such other legal services as may be required or requested or as may otherwise be deemed in the interests of the committee in accordance with its powers and duties as set forth in the Bankruptcy Code, Bankruptcy Rules, or other applicable law. The firm will be paid at a blended hourly rate of approximately $637.50, plus expenses. Rick Shelby, Esq., a partner at Kelly Hart Pitre, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Rick M. Shelby, Esq. Kelly Hart Pitre One American Place 301 Main Street, Suite 1600 Baton Rouge, LA 70801 Telephone: (225) 381-9643 Facsimile: (225) 336-9763 Email: louis.phllips@kellyhart.com About Swiftships LLC Swiftships, LLC designs, builds and supports military and commercial vessels, providing shipbuilding, engineering, system integration, co-production, maintenance, repair and overhaul, and service life extension services for naval and government clients worldwide. Founded in 1942 and based in Chantilly, Virginia, the company has constructed more than 1,000 vessels and provides lifecycle sustainment, follow-on technical support and autonomous solutions to more than 50 operators, with capabilities that include transfer-of-technology, transfer-of-production and fleet management support. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. La. Case No. 26-50237) on March 18, 2026. In the petition signed by Shahraze Shah, manager, the Debtor disclosed $43,004,524 in assets and $26,087,683 in liabilities. Judge John W. Kolwe oversees the case. Ryan J. Richmond, Esq., at Sternberg, Naccari & White, LLC represents the Debtor as counsel. On April 13, 2026, the Office of the United States Trustee appointed an official committee of unsecured creditors in this Chapter 11 case. The committee tapped Kelly Hart Pitre as counsel. TOASTED BARREL: Hires Keller Williams Realty as Real Estate Broker ------------------------------------------------------------------ The Toasted Barrel, LLC seeks approval from the U.S. Bankruptcy Court for the District of Oregon to employ Keller Williams Realty Southern Oregon as real estate broker. The Debtor needs a broker to sell its property located at 2039 Redwood Ave., Grants Pass, Oregon. The firm will receive a commission of 6 percent of the property's gross sale price. Melissa Hayes, a managing principal broker at Keller Williams Realty Southern Oregon, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Melissa Hayes Keller Williams Realty Southern Oregon 701 E. Jackson Medford, OR 97504 Telephone: (541) 608-0447 About The Toasted Barrel LLC The Toasted Barrel LLC is a hospitality-focused company engaged in food and beverage services, potentially including bar, restaurant, or spirits-related operations. The Toasted Barrel LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Ore. Case No. 26-60888) on April 1, 2026. In its petition, the Debtor reports estimated assets of $1 million to $10 million and estimated liabilities of $1 million to $10 million. Honorable Bankruptcy Judge Kathryn F. Evans handles the case. The Debtor is represented by Keith Y. Boyd, Esq., at Keith Y. Boyd, PC. TRANQUILITY FARMS: To Employ Robert B. Easterling as Legal Counsel ------------------------------------------------------------------ TRanquility Farms, LLC seeks approval from the U.S. Bankruptcy Court for the Eastern District of Virginia to employ Robert B. Easterling, a professional practicing law in Virginia, as its counsel. Mr. Easterling will provide these services: (a) assist the Debtor in the preparation of schedules, statements of financial affairs, and required bankruptcy reports; (b) assist in consultations and communications with creditors; (c) prepare pleadings, applications, and other legal documents and conduct examinations incidental to administration of the estate; (d) develop and manage relationships with secured creditors, unsecured creditors, and other parties in interest; (e) represent the Debtor in contested matters, adversary proceedings, and related litigation; (f) advise the Debtor regarding rights, duties, and obligations under the Bankruptcy Code and applicable rules and guidelines; (g) assist in the formulation and filing of a Chapter 11 plan and related disclosure materials; (h) assist in solicitation and filing of acceptances or rejections of a plan; (i) perform all necessary legal services for the continued operation of the Debtor's business; and (j) take all other actions necessary for proper representation and administration of the bankruptcy estate. Mr. Easterling will be compensated at an hourly rate of $400 for attorney time, $200 for paralegal time, and $200 for travel time, subject to Court approval under applicable Bankruptcy Code provisions and U.S. Trustee Guidelines. A retainer of $10,000 is being held, with total funds received of $11,738 including filing fee payment. Robert B. Easterling is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code and holds no adverse interest to the Debtor or its estate. The firm can be reached at: Robert B. Easterling, Esq. 2217 Princess Anne Street, Suite 100-2 Fredericksburg, VA 22401 Telephone: (540) 373-5030 Facsimile: (540) 373-5234 E-mail: eastlaw@easterlinglaw.com About Tranquility Farms LLC Tranquility Farms, LLC is a Louisa, Virginia-based company classified under the traveler accommodation industry. Tranquility Farms filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. E.D. Va. Case No. 26-31623) on April 18, 2026, with $1 million to $10 million in assets and $500,000 to $1 million in liabilities. Arlene D. Simmons, manager, signed the petition. Judge Keith L. Phillips presides over the case. Robert B. Easterling, Esq., at Robert B. Easterling, Attorney at Law represents the Debtor as bankruptcy counsel. TRISTRUX LLC: Foreclosure Auction for Equity Interests ------------------------------------------------------ FEAC Agent, LLC will sell 100% of the equity interests of Hess Broadband LLC and High Point Utilities, LLC held by TriStrux LLC (the "Collateral") to the highest qualified bidder in public (the "Foreclosure Auction") as follows: The Foreclosure Auction will be held on May 11, 2026 at 10:00.a.m. Prevailing Eastern Time at the Offices of Winston & Strawn LP, 200 Park Avenue, New York, NY 10166. FEAC may postpone or cancel the Foreclosure Auction. As of March 11, 2026, the outstanding amount of secured senior indebtedness of the Debtor was not less than $80,769,166, plus all other accrued and accruing interest, fees, expenses and other obligations. Bids of less than $35,000,000 for the Collateral will not be considered. Questions regarding the Foreclosure Auction should be directed to FEAC Agent, LLC at 500 Boylston Street, Suite 1250, Boston, MA 02116, with a copy to: Winston & Strawn LLP, 200 Park Ave., New York, NY 10166, Attn: Greg Gartland, David Baroni, Dan Drobnick, Email: ggartland@winston.com, dbaroni@winston.com, ddrobinick@winston.com. For the avoidance of doubt, the Collateral does not include any assets not owned by the Debtor or which is not subject to a valid lien in favor of the Secured Party. About TriStrux, LLC TriStruX LLC provides telecommunications infrastructure services. The Company offers wireless and fiber networks, building telecommunications infrastructure, and electrical contracting services. TRIWAYS INC: To Hire Law Offices of Michael Jay Berger as Counsel ----------------------------------------------------------------- Triways, Inc. seeks approval from the U.S. Bankruptcy Court for the Central District of California to hire the Law Offices of Michael Jay Berger to serve as General Bankruptcy Counsel. Mr. Berger and his firm will provide these services: (a) communicate with creditors of the Debtor and respond to creditor inquiries; (b) review the Debtor's Chapter 11 petition, schedules, and supporting filings; (c) advise the Debtor on its legal rights and obligations in the bankruptcy proceedings; (d) assist in compliance with reporting requirements of the Office of the United States Trustee; (e) prepare required status reports for the Court; (f) respond to motions filed in the bankruptcy case; (g) review and object to proofs of claim as necessary; (h) prepare Notices of Automatic Stay in related state court actions; and (i) prepare a Chapter 11 Plan of Reorganization, if appropriate. The Law Offices of Michael Jay Berger will receive compensation at these hourly rates: -- $695 per hour for Michael Jay Berger -- $645 per hour for Sofya Davtyan -- $595 per hour for of counsel attorneys -- $475 per hour for mid-level associate attorneys -- $275 per hour for senior paralegals and law clerks -- $200 per hour for bankruptcy paralegals A $25,000 retainer was paid on April 28, 2026, along with a $1,738 filing fee. The firm reported $643.50 in pre-petition fees, and the remaining unearned retainer of $24,356.50 is held in trust pending court approval. The Law Offices of Michael Jay Berger 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: Michael Jay Berger, Esq. Sofya Davtyan, Esq. LAW OFFICES OF MICHAEL JAY BERGER 9454 Wilshire Blvd., 6th Floor Beverly Hills, CA 90212-2929 Telephone: (310) 271-6223 Facsimile: (310) 271-9805 E-mail: Michael.Berger@bankruptcypower.com Sofya.Davtyan@bankruptcypower.com About Triways Inc Triways Inc is a corporate entity engaged in transportation or logistics-related services. Triways Inc sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-13355) on April 28, 2026. In its petition, the Debtor reports estimated assets of $0 to $100,000 and estimated liabilities of $1,000,000 to $10,000,000. Honorable Bankruptcy Judge Magdalena Reyes Bordeaux handles the case. The Debtor is represented by Michael Jay Berger, Esq. US MAGNESIUM: Judge Allows Voting Process for Chapter 11 Plan ------------------------------------------------------------- Alex Wittenberg of Law360 Bankruptcy Authority reports that on Thursday, May 7, 2026, a bankruptcy judge in Delaware signed off on unsecured creditors' efforts to solicit votes on a Chapter 11 liquidation plan for US Magnesium, months after the collapsed mineral supplier entered bankruptcy and discontinued business operations. The order allows the company's creditors to formally consider the proposed wind-down strategy. US Magnesium filed for bankruptcy protection after struggling with operational setbacks, environmental concerns and financial difficulties that ultimately forced the company to cease production. In response, unsecured creditors crafted a liquidation plan intended to maximize recoveries through the sale and administration of remaining estate assets, the report states The plan establishes procedures for handling creditor claims and distributing liquidation proceeds while bringing the Chapter 11 case toward resolution. The court's approval of the disclosure statement means creditors can now review the plan materials and submit votes before the matter proceeds to confirmation hearings, according to Law360. About US Magnesium LLC US Magnesium LLC is a magnesium producer based in Salt Lake City, Utah. US Magnesium LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 25-11696) on September 10, 2025. In its petition, the Debtor reports estimated assets and liabilities between $100 million and $500 million each. Judge Brendan Linehan Shannon oversees the case. The Debtor tapped Michael Busenkell, Esq., at Gellert Seitz Busenkell & Brown, LLC as counsel; Carl Marks Advisory Group LLC as restructuring advisor; and SSG Advisors, LLC as investment banker. Stretto, Inc. is the Debtor's claims and noticing agent. VANDERBILT MINERALS: Court Clears $64MM Mine Sale, New DIP Loan --------------------------------------------------------------- Rick Archer of Law360 Bankruptcy Authority reports that a New York bankruptcy judge on Thursday, May 7, 2026, approved Vanderbilt Minerals’ request to proceed with a $64 million bid for its mining properties and said interim approval would be granted for $15 million in Chapter 11 financing. The company is using the funding and sale process to support its restructuring efforts amid ongoing talc litigation. Vanderbilt Minerals, a longtime producer of talc and industrial minerals, sought bankruptcy protection after being hit with numerous claims alleging exposure to asbestos-containing talc products. In court, the company said the proposed transaction would preserve asset value and create a path toward resolving creditor and litigation claims, the report states. The interim debtor-in-possession financing is intended to provide working capital and maintain the company’s operations while the bankruptcy case advances. The judge noted that the proposed mine sale appeared to be a sound transaction that could benefit the estate and creditors if finalized, according to report. About Vanderbilt Minerals LLC Vanderbilt Minerals, LLC supplies mineral and chemical products. The Company offers ceramics, clay binders, mineral fillers, floor finishes, paints, concrete, and lubricants. Vanderbilt Minerals serves rubber, plastics, petroleum, paper, pharmaceutical, agricultural, ceramics, adhesives, wire and cable, and cosmetics industries worldwide. Vanderbilt Minerals sought sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-60110 (WAK)) on February 16, 2026) Charles J. Sullivan at Bond, Schoeneck & King, PLLC represents the Debtor as legal counsel. Kurtzman Carson Consultants, LLC (operating as Verita Global, LLC) serves as claims agent. R.T. Vanderbilt Holding Company, Inc. is the sole equity holder, owning 100% of the company. VARADERO SEA: Seeks Approval to Hire GAK Tax Advisor as Accountant ------------------------------------------------------------------ Varadero Sea Food & Cuban Cuisine L.L.C. seeks approval from the U.S. Bankruptcy Court for the District of Puerto Rico to hire Hector Manuel Babilonia Vale of GAK Tax Advisor & Accountant to serve as accountant. Mr. Babilonia Vale will provide these services: (a) assist debtor in the preparation of operating reports and financial reports; (b) assist debtor in the preparation of the monthly operating reports; (c) assist debtor in the preparation of the Disclosure Statement; (d) assist debtor in any/all financial and accounting pertaining to, or in connection with the administration of the estate; (e) assist debtor in the preparation and filing of federal, state and municipal tax returns; (f) assist debtor in any other assignment that might be properly delegated; and (g) assist the Debtor in general accounting services, tax returns preparations and making deposits for taxes. Mr. Babilonia Vale's services will be billed at an hourly rate of $200. GAK Tax Advisor & Accountant is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code, according to court filings. The accountant can be reached at: Héctor M. Babilonia Vale GAK TAX ADVISOR & ACCOUNTANT HC 60 Box 292405 Aguada, PR 00602 Telephone: (787) 600-0761 (787) 399-2874 E-mail: gakhb@yahoo.com About VARADERO SEA Varadero Sea Food & Cuban Cuisine LLC sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Puerto Rico Case No. 26-1052-11) on March 12, 2026. At the time of the filing, Debtor had estimated assets of between $50,001 and $100,000 and liabilities of between $100,001 and $500,000. Judge Maria De Los Angeles Gonzalez oversees the case. Homel Antonio Mercado Justiniano is Debtor's legal counsel. WEST MARINE: Considers Bankruptcy Amid Planned Store Closures ------------------------------------------------------------- Reshmi Basu of Bloomberg News reports that West Marine Inc., a nationwide boating and fishing supply retailer, is laying the groundwork for a possible Chapter 11 bankruptcy aimed at restructuring debt and lease liabilities, according to people with knowledge of the discussions. The company has reportedly been working with financial advisers as it evaluates options for a court-supervised restructuring. Sources said the retailer plans to shutter a number of underperforming stores as part of broader turnaround negotiations. West Marine’s website lists more than 230 locations across the country that sell boating accessories, navigation equipment, fishing products and marine maintenance supplies. The company is controlled by private equity firms Oaktree Capital Management and L Catterton, both of which have experience managing retail and consumer-focused investments. The potential restructuring comes as retailers tied to discretionary recreation markets confront weaker consumer demand and higher operating expenses, the report states. Analysts say a Chapter 11 filing could provide West Marine with an opportunity to reduce lease commitments, cut costs and reposition its store network for long-term profitability. The process would also allow the company to continue serving customers while negotiating with creditors and landlords. About West Marine Inc. West Marine Inc. is a U.S.-based marine retail company specializing in boating, fishing and marine maintenance products. Established in 1968, the company operates one of the country’s largest networks of boating supply stores, offering products ranging from marine electronics and navigation tools to fishing accessories, apparel and safety equipment. WISER SOLUTIONS: Seeks to Hire Epiq as Claims and Noticing Agent ---------------------------------------------------------------- Wiser Solutions, Inc. and its affiliates seek approval from the U.S. Bankruptcy Court for the Northern District of Texas to employ Epiq Restructuring, LLC as claims, noticing, solicitation and administrative agent. Epiq will oversee the distribution of notices and will assist in the maintenance, processing, and docketing of proofs of claim filed in the Chapter 11 cases of the Debtors. Prior to the petition date, the Debtors provided Epiq with a retainer in the amount of $25,000. Sophie Frodsham, a director at Epiq, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Sophie Frodsham Epiq Restructuring, LLC 777 Third Avenue, Floor 12 New York, NY 10017 Telephone: (212) 225-9200 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. and its affiliates 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, Wiser Solutions reports assets in the range of $50 million to $100 million and liabilities between $100 million and $500 million. The case is jointly administered in Case No. 26-80002. Honorable Bankruptcy Judge Scott W. Everett handles the case. The Debtors are represented by Katharine Battaia Clark, Esq., at Thompson Coburn LLP. Epiq Restructuring, LLC is the Debtors' claims, noticing, solicitation and administrative agent. WORKSPORT LTD: VP Finance Jennifer Kartychak Assumes CFO Role ------------------------------------------------------------- Worksport Ltd. announced in a regulatory filing that Michael Johnston informed the Company of his resignation as Chief Financial Officer, Principal Financial Officer and Principal Accounting Officer. The Board of Directors accepted Mr. Johnston's resignation on April 30, 2026. Mr. Johnston's resignation took effect at 5:00 p.m. (Eastern Time) on April 30, 2026. Mr. Johnston's resignation was not the result of any disagreement with the Company regarding its operations, policies or practices, including any matter relating to the Company's financial reporting or accounting practices. The Company expects to complete the transition to an in-house finance function in connection with the following appointment. Appointment of New Chief Financial Officer On April 30, 2026, the Board appointed Jennifer Kartychak as the Company's Chief Financial Officer, effective May 1, 2026. Ms. Kartychak will serve as the Company's Principal Financial Officer and Principal Accounting Officer. Ms. Kartychak, age 44, currently serves as the Company's Vice President of Finance, a position held since January 1, 2026. From August 2023 to her appointment as the Company's Vice President of Finance, Ms. Kartychak provided consulting services to the Company through Arend Advisory Group LLC, an entity wholly owned by Ms. Kartychak. Ms. Kartychak's professional background includes over ten years of experience in public accounting, of which approximately five years were with Ernst & Young LLP, where she advanced to the position of Manager in the firm's Assurance Services practice. While at EY, Ms. Kartychak enhanced her strong foundation in manufacturing and public company reporting requirements. Ms. Kartychak departed EY in 2010 to serve as Corporate Accounting Manager at Moog Inc. (NYSE: MOG.A). Ms. Kartychak held this position from May 2010 to June 2016 and assumed increasing levels of responsibility during her tenure. Ms. Kartychak's responsibilities provided her extensive experience with SEC reporting requirements, management of technical accounting areas, management of acquisitions and divestitures, oversight of governance practices, significant involvement with executive management, and management of internal reporting practices. Ms. Kartychak holds a Bachelor of Science in Accounting and a Bachelor of Science in Accounting Information Systems from Canisius University. Ms. Kartychak is a Certified Public Accountant licensed in the State of New York and is a member of the American Institute of Certified Public Accountants. Compensatory Arrangements of Certain Officers In connection with Ms. Kartychak's appointment as Vice President of Finance, on January 1, 2026, Worksport USA Operations Corporation, the Company's wholly owned operating subsidiary, and Ms. Kartychak entered into an Executive Employment Agreement. The Employment Agreement provides for, among other things: (i) an annual base salary of $220,000; (ii) eligibility for an annual cash bonus with a target payout of $75,000, structured in tranches and payable upon achievement of specific corporate milestones and individual key performance indicators (KPIs) set forth in the Employment Agreement; and (iii) an award of a non-qualified stock option under the Worksport Ltd. 2022 Equity Incentive Plan exercisable to purchase up to 100,000 shares of the Company's common stock, at an exercise price equal to the fair market value of the Company's common stock on the date of grant. The option is subject to continued employment and vests pursuant to time- and performance-based objectives set forth in the Employment Agreement. In addition, the Board has approved a grant of shares of the Company's common stock to Arend Advisory Group LLC, an entity wholly owned by Ms. Kartychak, and the Company has authorized the issuance of 13,000 shares of the Company's common stock to Arend Advisory Group LLC, an entity wholly owned by Ms. Kartychak, pursuant to the Stock Grant, as approved by the Board in connection with the CFO transition resolutions. There are no arrangements or understandings between Ms. Kartychak and any other person pursuant to which she was appointed as Chief Financial Officer. There are no family relationships between Ms. Kartychak and any director or executive officer of the Company. Prior to Ms. Kartychak's appointment as Chief Financial Officer, the Company engaged Arend Advisory Group LLC, an entity wholly owned by Ms. Kartychak, beginning in August 2023 to provide consulting services to the Company. The Company paid Arend Advisory Group LLC approximately $8,000, $134,000 and $158,000 during the fiscal years ended December 31, 2023, 2024 and 2025, respectively. The Company paid Arend Advisory Group LLC approximately $17,000 from January 1, 2026 through April 29, 2026 related to services rendered prior to her employment agreement. The Company issued Arend Advisory Group LLC 19,768 shares of common stock for services rendered between August 2003 and December 2025. Other than the foregoing, the Company has determined that there are no transactions involving Ms. Kartychak that would require disclosure under Item 404(a) of Regulation S-K. A full text copy of the Employment Agreement is available at https://tinyurl.com/ywnh6u72 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. XANDRIA HOLDINGS: To Retain Onyx Hospitality as Property Manager ---------------------------------------------------------------- Xandria Holdings, LLC seeks approval from the U.S. Bankruptcy Court for the Southern District of Florida, Miami Division to employ Sameet Patel of Onyx Hospitality, LLC to serve as property manager for the Debtor-in-Possession. Mr. Patel will provide these services: (a) assist the Debtor in the collection of rent and the rental of vacant units; (b) assist the Debtor with tenant communications and rental issues; and (c) assist counsel in protecting the interests of the Debtor. Sameet Patel and Onyx Hospitality, LLC are disclosed as "disinterested persons" within the meaning of 11 U.S.C. § 327(a), and do not represent any interest adverse to the Debtor or the bankruptcy estate. The professional can be reached at: Sameet Patel ONYX HOSPITALITY, LLC Wellington, FL 33487 info@onyxhospitality.com About Xandria Holdings LLC Xandria Holdings LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 26-12980) on March 11, 2026, with $500,000 to $1 million in assets and $1 million to $10 million in liabilities. Zohair Sultan, president, signed the petition. Judge Robert A. Mark oversees the case. David W. Langley, Esq., represents the Debtor as counsel. YAJIKA RESTAURANTS: Seeks to Tap Modesto Bigas as General Counsel ----------------------------------------------------------------- Yajika Restaurants, Inc. seeks approval from the U.S. Bankruptcy Court for the District of Puerto Rico to employ Modesto Bigas Law Office to handle its Chapter 11 case. Modesto Bigas Mendez, Esq., the primary attorney in this representation, will be billed at his hourly rate of $250, plus reimbursement for expenses incurred. The firm received a retainer of $5,000 from the Debtor. Mr. Bigas Mendez disclosed in a court filing that his firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Modesto Bigas Mendez, Esq. Modesto Bigas Law Office P.O. Box 7462 Ponce, PR 00732 Telephone: (787) 844-1444 Facsimile: (787) 842-4090 Email: mbigasmendez@gmail.com About Yajika Restaurants Inc. Yajika Restaurants, Inc., based in Bo. Jauca, Santa Isabel, Puerto Rico, operates a full-service restaurant providing dine-in food service. The company is located along the Carr. 153 corridor in southern Puerto Rico and serves local customers through a standard restaurant service model. Yajika Restaurants sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.P.R. Case No. 26-01661) on April 15, 2026. In the petition signed by David Reyes Viera, president, the Debtor disclosed $192,864 in assets and $1,262,169 in liabilities. Judge Maria De Los Angeles Gonzalez oversees the case. Modesto Bigas Law Office represents the Debtor as counsel. ZAHRCO ENTERPRISES: Taps Michael Moecker and Greenspoon as Witness ------------------------------------------------------------------ Zahrco Enterprises, Inc. seeks approval from the U.S. Bankruptcy Court for the Southern District of Florida to employ Michael Moecker & Associates and Greenspoon Marder, LLP as witnesses. Michael Moecker & Associates will provide expert testimony on the Debtor's Furniture, Fixtures, and Equipment (FF&E) valuation and the ongoing value of its liquidating business and Greenspoon Marder will provide testimony on the valuation of its liquor license. Eric Rubin of Michael Moecker & Associates and Louis Terminello of Greenspoon Marder will be billed at their hourly rates of $350 and $895, respectively. Mr. Rubin and Mr. Terminello disclosed in court filings that their firms are "disinterested persons" as the term is defined in Section 101(14) of the Bankruptcy Code. The firms can be reached through: Eric Rubin, Esq. Michael Moecker & Associates 1883 Marina Mile Blvd., Suite 106 Fort Lauderdale, FL 33315 - and - Louis Terminello, Esq. Greenspoon Marder LLP 200 E. Broward Blvd, Suite 1800 Fort Lauderdale, FL 33301 Telephone: (954) 491-1120 About Zahrco Enterprises Inc. Zahrco Enterprises Inc. operates two restaurants located in Coral Gables, Fla., on leased properties. Zahrco Enterprises Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 25-13628) on April 2, 2025. In its petition, the Debtor reported total assets of $72,679 and total liabilities of $2,591,821. Judge Corali Lopez-Castro handles the case. The Debtor is represented by Kris Aungst, Esq., at Paragon Law, LLC. ZD SAND: Gets Interim OK to Use Cash Collateral ----------------------------------------------- ZD Sand, LLC received interim approval from the U.S. Bankruptcy Court for the Southern District of Texas, Houston Division, to use cash collateral. Under the interim order, the Debtor is authorized to access cash collateral to pay the expenses set forth in its budget pending the final hearing on May 22. The Debtor is required to cooperate with Persimmon BridgeCo, LLC, which is identified as the lender in the bankruptcy case. It must provide requested bank statements, allow access to its real property for appraisal purposes, and furnish copies of all current insurance policies. Moreover, the Debtor is required to keep the lender's collateral free and clear of any post-petition liens, encumbrances, or additional security interests. The bankruptcy court stated that it could not determine at the interim stage whether valid liens on the cash collateral actually exist. However, if such liens are later found to exist, the lender will retain the same liens, encumbrances, and security interests in post-petition cash collateral and its proceeds. All lender rights are reserved pending further proceedings. The order is available at https://is.gd/1sao37 from PacerMonitor.com. Persimmon asserts that its lien on the Debtor's real property extends, through a chain of perfected interests, into the Debtor's cash. The Debtor disputes both the scope of that lien and whether most of its cash is actually encumbered. It argues that the majority of its revenue comes from sand sourced from neighboring landowners under separate excavation agreements and, therefore, falls outside Persimmon's collateral. Even assuming Persimmon has some secured interest in cash, the Debtor argues it is already oversecured and fully protected by a substantial equity cushion, pointing to the lender's roughly $7.4 million claim against land previously appraised at $74.2 million (and even a lower appraisal of $15.9 million still leaving a significant cushion). On that basis, the Debtor argues no additional protection beyond standard bankruptcy safeguards is necessary. ZD Sand employs about 23 workers and runs an active sand mining and distribution business, with significant ongoing commercial demand driven by a major contract with Kiewit Construction, under which it has already received approximately $1.1 million in payments and holds over $400,000 in cash and $1.2 million in receivables largely tied to that contract. Persimmon, as secured lender, is represented by: Matthew E. Furse, Esq. Grable Martin, PLLC 5473 Blair Rd., Ste. 100 PMB 51281 Dallas, Texas 75231-4227 Tel: (972) 474-9206 Fax: (214) 307-9832 mfurse@grablemartin.com About ZD Sand LLC ZD Sand LLC, doing business as ZD Sand & Rock LLC, provides sand, rock, and aggregate materials from its headquarters in Voca, Texas, including concrete and masonry sand, boulders, topsoil, and various gravels and palleted rocks. The company serves contractors, suppliers, and regional buyers, offering delivery services to support construction and landscaping projects. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 26-32398) on April 6, 2026. In the petition signed by Thomas A. Dickinson, manager and representative of the Debtor, the Debtor disclosed up to $100 million in assets and up to $10 million in liabilities. Judge Jeffrey P. Norman oversees the case. Erin Jones, Esq., at Jones Murray, LLP, represents the Debtor as legal counsel. ZENNIHOME LLC: Seeks Ch. 7 Bankruptcy Prior to Receivership Hearing ------------------------------------------------------------------- Angela Gonzales of Phoenix Business Journal reports that ZenniHome, a modular home builder known for projects on the Navajo Nation, has filed for Chapter 7 bankruptcy, effectively derailing efforts in state court to appoint a receiver and moving the matter under federal bankruptcy jurisdiction. The filing places the company's assets into a liquidation framework. The receivership request had been part of ongoing litigation tied to the company's financial and operational difficulties, but the bankruptcy filing imposes an automatic stay that halts those proceedings. Control of the company's assets now shifts to the bankruptcy court and a trustee tasked with administering the estate. ZenniHome focused on producing modular housing designed to streamline construction and expand affordable housing access in underserved communities. The Chapter 7 filing redirects all related disputes, including creditor claims and asset disposition, into the bankruptcy process for resolution. About ZenniHome LLC ZenniHome LLC is a U.S.-based modular housing manufacturer and construction company focused on factory-built, sustainable homes designed for rapid deployment in affordable housing markets. Founded in 2020, the company develops space-efficient modular units using industrialized production methods intended to reduce construction costs, minimize waste and improve scalability in housing delivery. ZenniHome LLC sought relief under Chapter 15 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 26-10676) on May 5, 2026. Honorable Bankruptcy Judge Thomas M. Horan handles the case. The Debtor is represented by Kristi JoLynn Doughty, Esq. of Stern & Eisenberg. [] Apotheo Launches Complex Situations Financial Advisory Firm -------------------------------------------------------------- Apotheo Capital announced its launch as an integrated financial advisory and private capital firm focused on complex situations. Apotheo was founded on a clear conviction: in high-stakes financial transactions, an advisor's objective should be to achieve the ultimate success for its clients. Value is rarely created through a single transaction; it is built through the hard work and execution that follow. To that end, Apotheo brings sound judgment, seasoned decision-making, aligned capital, and creative structuring to companies, creditors, and investors. The Firm remains engaged until the final objective is complete, and will frequently invest a meaningful portion of its compensation in deal currency. Apotheo launches with backing from a family office. This partnership provides growth capital for the platform and seed capital for investments, along with access to a broader network of institutional partners, enabling the firm to invest as a principal, both on a standalone basis and alongside its advisory mandates. "We measure ourselves by the results we deliver, not the transactions we close," said Ari Lefkovits, Managing Partner and Founder of Apotheo. "That's why we formed Apotheo: to bring senior attention, flexibility, and an investor mindset to complex situations where thoughtful structuring and true alignment make a meaningful difference." The Firm's advisory capabilities span mergers and acquisitions, debt and equity financings, restructurings, liability management, and capital solutions. In parallel, Apotheo pursues private capital opportunities in situations where value is obscured by balance sheet, industry, or structural complexity. "We see a clear need for sophisticated, hands-on advice paired with capital and structuring expertise," said Alice Chong, Co-Founder of Apotheo. "Having worked across numerous industries and market cycles, we bring a perspective shaped by direct involvement in complex M&A, financing, and liability management transactions and a focus on disciplined execution when it matters most." "We stand alongside our clients and partners. When they succeed, we succeed," said Jay Losty, Co-Founder of Apotheo. "Our approach is to start with the situation and then build the right solution, whether that involves our strategic advice, capital, or both." Apotheo's principals bring experience from leading financial institutions and investment firms, including Lazard, Goldman Sachs, Guggenheim Securities, Searchlight Capital Partners, Millennium Management, and Delos Capital. Collectively, the firm's professionals have more than $550 billion of transaction experience across more than 150 completed transactions, with an average of over 20 years of senior experience. Apotheo works with a select group of clients and partners on transactions where its involvement can shape meaningfully better outcomes. About Apotheo Apotheo -- https://apotheocap.com/ -- is a financial advisory and private investment firm focused on delivering creative solutions for investors, partners and clients in complex situations. The firm combines advisory expertise with principal investing experience to provide integrated advice and capital across mergers and acquisitions, financings, restructurings, liability management transactions, and private capital opportunities. [] Bipartisan Lawmakers Target Texas Two-Step Bankruptcy Strategy ----------------------------------------------------------------- Angelica Serrano-Roman of Bloomberg Law reports that A bipartisan coalition in Congress has reintroduced legislation aimed at limiting the use of the Texas Two-Step bankruptcy strategy, a maneuver employed by some companies facing extensive mass tort lawsuits. The legislation would instruct courts to treat such filings as presumptively made in bad faith and would narrow protections for related corporate affiliates. The bills, S.4346 and H.R.8393, were sponsored by Sens. Sheldon Whitehouse, Josh Hawley and Dick Durbin together with Reps. Emilia Sykes and Lance Gooden. Lawmakers attempted similar reforms in 2024, arguing that current bankruptcy laws allow financially healthy corporations to delay or reduce liability exposure through strategic restructurings, the report states. The Texas Two-Step has been used in high-profile asbestos and talc litigation cases involving companies such as Bestwall LLC and Johnson & Johnson. The strategy typically separates liabilities from operating assets before the liability-bearing entity files for Chapter 11 protection, triggering an automatic stay on litigation. The legislation has received backing from consumer advocates and comes shortly after lawmakers urged the U.S. Supreme Court to review Bestwall's bankruptcy proceedings, according to Bloomberg. [] Healthcare Bankruptcy Increased 33% in 1st Qtr. of 2026 ---------------------------------------------------------- Healthcare bankruptcy filings increased 33% in the first quarter of 2026, according to a new report by Gibbins Advisors, with outpatient care businesses and senior living operators leading the surge. The report pointed to ongoing financial stress caused by elevated labor costs, reimbursement challenges and declining patient margins in several healthcare segments. Senior care providers and outpatient operators were particularly vulnerable because many continue to face staffing shortages and rising expenses without corresponding increases in reimbursement rates. Industry analysts said smaller providers have struggled to adapt to the post-pandemic operating environment, leaving many unable to sustain profitability. Despite the increase in insolvency filings, hospital merger-and-acquisition activity rebounded strongly during the quarter. The report described the first quarter of 2026 as the busiest opening quarter for hospital M&A transactions since early 2020, signaling renewed investor and strategic interest in healthcare consolidation, the report relays. Experts said financially distressed providers are increasingly becoming acquisition targets for larger health systems seeking geographic expansion and operational scale. The combination of rising bankruptcies and stronger M&A activity highlights the continued transformation of the healthcare industry as providers seek stability through consolidation. [] Smith Gambrell Adds New Partners to Bankruptcy Practice in N.Y. ------------------------------------------------------------------ Smith, Gambrell & Russell, LLP ("SGR") announced the expansion of its Bankruptcy, Financial Restructuring, and Creditors' Rights practice with the addition of partners Allen G. Kadish, Gerard DiConza, and Harrison H.D. Breakstone, and associate Paris Gyparakis in the firm's New York office. The announcement follows SGR's addition last month of 14 attorneys to its Intellectual Property practice, continuing the firm's significant growth across key practice groups. "Gerry, Allen, Harrison, and Paris each bring deep experience and strong market reputations in bankruptcy and restructuring," said Shelly DeRousse, head of the firm's Bankruptcy, Financial Restructuring and Creditors' Rights practice. "Together, they notably expand our capabilities in this area and give our clients access to a team that can handle the most complex, high-stakes insolvency matters in New York and throughout the country." Mr. Kadish represents distressed businesses, creditors, lenders, fiduciaries, and investors navigating corporate crises, Chapter 11 restructurings, and out-of-court workouts across a broad range of industries, including real estate, healthcare, retail, energy, technology, and transportation. He serves on the Board of Directors of the American Bankruptcy Institute and has served on the Global Board of Directors of the Turnaround Management Association since 2015. Mr. DiConza represents debtors, creditors, receivers, trustees, estate fiduciaries, distressed asset buyers, and other parties in interest in Chapter 11 cases and out-of-court restructurings. His practice includes the full spectrum of bankruptcy and restructuring work -- from prosecuting avoidable transfer claims on behalf of estate fiduciaries, to navigating contested Section 363 sales, to advising debtors through restructurings. He has handled high-profile restructurings across industries, including high-end designer shoe retailers, national transportation and logistics companies, and commercial real estate owners. Breakstone guides debtors, creditors, and stakeholders through complex corporate restructurings and bankruptcy proceedings with a strategic focus on preserving value and maximizing leverage. His practice spans debtors' and creditors' rights, bankruptcy litigation, and commercial disputes arising from financial distress. Mr. Gyparakis represents financially distressed businesses, secured and unsecured creditors, and other stakeholders in corporate restructuring and bankruptcy cases. He counsels clients through Chapter 11 reorganizations, out-of-court workouts, and liquidations across multiple industries. "SGR's national platform gives us the ability to serve clients in new ways," said Mr. Kadish. "When clients face complex restructuring challenges, they need more than bankruptcy counsel — they need a team that can engage on the litigation, real estate, corporate, and employment issues that inevitably arise alongside it. That's exactly what SGR offers, and it's what made this decision so compelling." Smith, Gambrell & Russell, LLP's Bankruptcy, Financial Restructuring, and Creditors' Rights Practice represents creditors, lenders, debtors, and trustees in all aspects of bankruptcy and creditors' rights matters. The team emphasizes practical, business-oriented solutions while maintaining a readiness for litigation when necessary. Drawing on the Firm's deep experience in commercial lending, financial services, and complementary areas such as real estate, litigation, and securities, the practice regularly delivers innovative strategies to resolve complex insolvency issues. To learn more, please visit: https://www.sgrlaw.com/practices/bankruptcy/. About Smith, Gambrell & Russell, LLP Smith, Gambrell & Russell, LLP is a full-service, international law firm that advises regional, national and global businesses on a wide range of legal matters. The Firm's more than 400 professionals provide legal counsel in more than 50 specialized practice areas, including corporate transactions, litigation, intellectual property, aviation, banking, real estate, insurance/reinsurance, construction, employment law, international, and employee benefits and executive compensation. Founded in 1893, Smith Gambrell has 15 domestic and international offices, including Atlanta; Austin; Charlotte; Chicago; Houston; Jacksonville; London; Los Angeles; Miami; Milan; Munich; New York; Southampton; Tampa; and Washington, D.C. [] Wall Street Prep, Wharton Launch Investing Certificate Program ----------------------------------------------------------------- Wall Street Prep, the world's leading financial training company, and Wharton Online announced the launch of the Restructuring & Distressed Investing Certificate Program -- expanding their collaboration into one of the most specialized and consequential areas of finance. The new certificate is the fifth program in the partnership's growing portfolio, following programs in Private Equity, Real Estate Investing, Financial Planning & Analysis, and Applied Value Investing. The launch comes as nearly $3 trillion in leveraged loans and high-yield bonds remain outstanding, private credit navigates its first real stress cycle, and AI continues to disrupt business models across industries -- creating unprecedented demand for professionals who understand how distress actually works. "Corporate restructuring and distressed investing demand expertise across valuation, bankruptcy law, negotiation, and capital structure dynamics," said Michael Gatto, Honorary Program Chair and Partner at Silver Point Capital. "This program examines distress from every perspective -- preparing investors and advisors to execute complex transactions and turnaround professionals to guide companies through financial recovery." About the Program Over eight weeks, learners cover the full lifecycle of financial distress -- from diagnosing decline and managing liquidity through Chapter 11 processes, distressed M&A, and advanced investment strategies. Each cohort combines self-paced video modules with live weekly office hours, one-on-one tutoring, and access to local study groups. Upon completion, learners receive a digital certificate from Wall Street Prep and Wharton Online. "This is not a theoretical program," said Bilge Yilmaz, Academic Director of Wharton's Harris Family Alternative Investments Program. "Learners get the analytical frameworks and academic foundation that Wharton is known for, alongside instruction from practitioners who have been in the room on some of the most significant transactions of the last twenty years. That combination is simply not available anywhere else." The program is designed for professionals across restructuring advisory, distressed investing, private credit, bankruptcy law, and corporate finance -- at any stage of their career. "Restructuring and distressed investing crosses finance, law, operations, and negotiation — and most professionals only ever see it from one seat at the table," said Matan Feldman, Founder and CEO of Wall Street Prep. "This program brings all those seats together — distressed investors, restructuring advisors, bankruptcy attorneys, and private credit professionals learning alongside each other and building the relationships that define long careers in this space." The first cohort begins June 8, 2026 and runs through August 2, 2026. Early enrollment tuition is $4,800 (application fee waived before May 11). Tuition assistance is available. For more information and to enroll, visit the certificate program website at https://urlcurt.com/u?l=hXdXS0 About Wall Street Prep Established in 2004 by investment bankers, Wall Street Prep is the leading provider of corporate training to the world's most recognized private equity firms, investment banks, and financial institutions. Trusted by thousands of students and finance professionals, the instructor-led and online training programs help students bridge the gap between academia and practical, real-world skills needed to succeed on the job. Programs currently serve 130+ blue-chip corporates, 125+ universities, and 12,000+ individual learners. Since its founding, Wall Street Prep has helped over 300,000 finance professionals build critical job skills. About Wharton Online Wharton Online, the Wharton School's digital learning platform, makes high-quality business education available to learners anytime and anywhere. From certificate programs that issue Continuing Education Units to specializations across a variety of business and management topics, Wharton Online's offerings equip learners to advance their careers. With 100K certificate-earning learners and more than one million total learners who have accessed courses, Wharton Online has built a global network of business leaders. ********* 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. All titles are available at your local bookstore or through Amazon.com. Go to http://www.bankrupt.com/books/to order any title today. Monthly Operating Reports are summarized in every Saturday edition of the TCR. The Sunday TCR delivers securitization rating news from the week then-ending. TCR subscribers have free access to our on-line news archive. 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