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260609.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, June 9, 2026, Vol. 30, No. 160 Headlines 1300 DESERT: Administrator Taps David M. Banker as Counsel 1377 BRONX: Seeks Chapter 11 Bankruptcy in New York 1777 MONROE: Case Summary & 15 Unsecured Creditors 1779 MONROE: Case Summary & 17 Unsecured Creditors 22 HIGH MOUNTAIN: Hires Robert S. Lewis PC as Bankruptcy Counsel 2762 KINGSBRIDGE: Case Summary & 12 Unsecured Creditors 309 NORTH: Seeks Subchapter V Bankruptcy in New York 3112 N SPEER: Seeks Chapter 7 Bankruptcy in Colorado 330 BAYWOOD: Seeks Chapter 7 Bankruptcy in New York 361 S 1ST STREET: Seeks Chapter 11 Bankruptcy in New York 4010 THOR: Unsecureds to be Paid in Full over 60 Months 522 FIFTH: Seeks Chapter 11 Bankruptcy in Tennessee 56 THIRD: Commences Chapter 11 Bankruptcy in New York 7052 DUME: Seeks Chapter 7 Bankruptcy in California 767 TIFT: Initiates Chapter 7 Bankruptcy in Georgia 7TH PAR HOLDINGS: Hires Equal Justice Law Group as Legal Counsel 8830 172ND LLC: Samuel Dawidowicz Named Subchapter V Trustee 90 PLEASANT VALLEY: Seeks Chapter 11 Bankruptcy in New Jersey 949 FAIR STREET: Seeks Subchapter V Bankruptcy in Georgia AARONS LANDSCAPING: Seeks to Hire Bell & Bell PLLC as Accountant ACI ROVER: Moody's Gives 'B2' Rating to New 1st Lien Term Loan B ADIENT GLOBAL: Moody's Ups CFR to Ba3 & Senior Secured Notes to Ba1 ADUDDELL INDUSTRIES: Seeks to Hire Berger Singerman LLP as Counsel AHT TRANSPORT: Seeks Subchapter V Bankruptcy in Kansas AITX: Audit Information Delays Hold Up FY2026 Annual Report Filing AM LOGISTICS: H. Faith Welch Named Subchapter V Trustee AMBIPAR EMERGENCY: Taps Verita Global as Claims and Noticing Agent AMERICAN STRATEGIC: Stockholders Re-Elect Two Directors AMK PROPERTIES: Seeks to Extend Plan Exclusivity to Sept. 28 ARAGORN PARENT: Moody's Rates New Sr. Secured First Lien Debt 'B2' ARTETA LLC: Seeks to Tap Bronson Law Offices as Bankruptcy Counsel ASCENSION TOWING: Hires Sternberg Naccari & White as Attorney ASHFORD HOSPITALITY: Sells Sheraton Indianapolis Hotel for $32.1MM ATEG ENTERPRISES: Seeks to Hire American Real Estate as Broker AVALON DERM: Hires Wexler Healthcare as Real Estate Advisor AVEANNA HEALTHCARE: S&P Upgrades ICR to 'B', Outlook Stable B&G FOODS: Moody's Rates New Unsecured Notes 'Caa2' BEELINE HOLDINGS: Director Finnsson to Resign Effective June 30 BEELINE HOLDINGS: LOI to Acquire Remaining Interest in MagicBlocks BETHLEHEM-CENTER SCHOOL: Moody's Ups Issuer & GOLT Ratings to Ba3 BETTERWORK MEDIA: Gets Interim OK to Use Cash Collateral BITTREX INC: SEC Challenges Request to Vacate Crypto Judgment BOUND LOGISTICS: Seeks to Tap Vestcorp LLC as Financial Consultant BOWLING GREEN: Seeks Chapter 7 Bankruptcy in Kentucky BRAND ENGAGEMENT: Buys $1 Million Stake in Accelevate BRANDCASTERS INC: Hires Lake Forest as Reorganization Counsel BROADWAY LEARNING: Chris Quinn Named Subchapter V Trustee BTWFU & GCFU: Plan Filing Deadline Extended to June 29 C.D.S. MOVING: Plan Exclusivity Period Extended to June 27 CACERES SPECIALIZED: Case Summary & 13 Unsecured Creditors CAMP MONTE: Starts Chapter 11 Bankruptcy in New York CAPOSTRADA LLC: Hires Daniel Reinganum PC as Bankruptcy Counsel CARBON HEALTH: Seeks to Hire BDO USA PC as Tax Services Provider CARIBBEAN ISLAND: Commences Chapter 7 Bankruptcy in Florida CD&R SMOKEY: S&P Downgrades LT ICR to 'CCC+', Outlook Negative CHAMPION HOME: Seeks to Hire Norgaard O'Boyle & Hannon as Counsel CHON'S PAINT: Hires DeConcini McDonald Yetwin & Lacy as Attorney CLEAN ENERGY: Late 10-Q Triggers Nasdaq Listing Rule Non-Compliance COVENANT LAND: Commences Chapter 11 Bankruptcy in Georgia DC CABLE: Seeks to Hire Pyramid Brokerage as Real Estate Broker DELEK LOGISTICS: Moody's Affirms 'B1' CFR, Outlook Remains Stable DELEK US: Moody's Affirms 'B1' CFR & Alters Outlook to Stable DELGADO HOLDINGS: Starts Chapter 11 Bankruptcy in Georgia DEQSER LLC: Seeks to Hire Stretto Inc. as Solicitation Agent DIRECT MOTOR: Seeks to Hire David Freydin PC as Bankruptcy Counsel DIXIE GROUP: Barry Blank Holds 5.5% Equity Stake DIXIE GROUP: Daniel Frierson Holds 7.3% Equity Stake DNA X: Issues $3.05M Convertible Note to DNA Holdings Venture DZS ENTERPRISE: Mark Shapiro Named Subchapter V Trustee ELITE PROJECT: Frances Smith Named Subchapter V Trustee ENDO INT'L: Court Narrows Claims in Suit vs TPG over Par Deal ENVERIC BIOSCIENCES: Board Adopts New RSU and RSA Award Agreements ENVERIC BIOSCIENCES: Four of Five Proposals Pass at Annual Meeting EXCELL COMMUNICATIONS: Unsecureds Will Get 7% to 8% in Plan FALLS MEDICAL: Unsecured Creditors to Split $77K in Plan FAMES TRANSPORT: Seeks Chapter 7 Bankruptcy in California FENG TAI: Case Summary & Seven Unsecured Creditors FINCH PROPERTY: Matthew Brash Named Subchapter V Trustee FIRST BRANDS: Aequum Faces Creditor Fraud Suit FIRST BRANDS: Files Revised Chapter 11 Plan to Avert Liquidation FIRST EMANUEL: Seeks to Hire Susan J Vaughn CPA as Accountant FLEXSHOPPER INC: U.S. Trustee Objects to Chapter 11 Plan FTX TRADING: Seeks Presidential Pardon for Fraud Conviction GEORGE AVE: Joli Lofstedt Named Subchapter V Trustee GOLD MOUNTAIN: Seeks Chapter 11 Bankruptcy in California GOODYEAR TIRE: Moody's Rates New Senior Unsecured Notes 'B2' GOSSAMER BIO: Closes Early Settlement on Convertible Note Exchange GREENWAVE TECHNOLOGY: Nasdaq Flags Q1 2026 10-Q Delay in New Notice HAWTHORNE RACE: Hilco Sets June 26 Deadline for Chapter 11 Sale HIDDEN VALLEY: Hires Sherrard Roe Voigt & Harbison PLC as Counsel HOME VALUE: Seeks Subchapter V Bankruptcy in Florida HOMESTEAD VILLAGE: Has Deal on Cash Collateral Access HOMETOWN CHIROPRACTIC: Gets Extension to Access Cash Collateral HYBAR LLC: Moody's Assigns First Time 'B3' Corporate Family Rating I & A AUTOMOTIVE: Taps Charles Fitzpatrick as Bankruptcy Counsel INCAR GROUP: Unsecured Creditors to Split $500K in Plan INDEPENDENT MEDEQUIP: Plan Exclusivity Period Extended to July 15 INOTIV INC: Files Prepackaged Chapter 11 to Cut $326M in Debt INOTIV INC: Gets Interim OK to Tap $25MM Bankruptcy Loan IPA ASSET: Trustee Hires LaMonica Herbst & Maniscalco as Counsel IPIC THEATERS: Claims to be Paid from Asset Sale Proceeds JACKSON HOSPITAL: Warns of Possible Closure Without Financial Help JAGUAR HEALTH: Nasdaq Panel Confirms Compliance Through September JMK5 MALL: Commences Chapter 11 Bankruptcy in Texas JOHN FITZGIBBON: Taps Evans & Mullinix as Special Conflicts Counsel KARYOPHARM THERAPEUTICS: Adds 1.4M Shares to Amended 2013 ESPP KARYOPHARM THERAPEUTICS: Adds 3.95 Million Shares to Equity Plan KARYOPHARM THERAPEUTICS: All Key Proposals Passed At Annual Meeting KARYOPHARM THERAPEUTICS: OKs Broad-Based Retention Equity Program KOOKY MOOSE: Seeks Chapter 7 Bankruptcy in Alaska LAUREN ASHLEY: Seeks to Tap Davis Ermis & Roberts PC as Counsel LEARNING CARE: S&P Alters Outlook to Negative, Affirms 'B-' ICR LEGENCE HOLDINGS: S&P Upgrades ICR to 'BB-', Outlook Positive LEWIS TOWING 2: Seeks Chapter 11 Bankruptcy in California LITTLE DOLLAR: Commences Chapter 11 Bankruptcy in Georgia LONESOME DOVE: Hires Arsement Redd Gardner Benoit as Accountant LOTUS TECHNOLOGY: Names Joe Zhang Board Chairman LURIN REAL ESTATE: Gets Interim OK to Use Cash Collateral M & F HEALTHCARE: Joseph Cotterman Named Subchapter V Trustee MAKIIN LLC: Catherine Stone Curtis Named Subchapter V Trustee MANNING LAND: Hires Roxborough Pomerance Nye as Appellate Counsel MAR ENTERPRISES: Seeks to Hire Marcos D. Oliva PC as Counsel MARELLI CORP: Wins $300MM DIP Extension, Plans Aug. 1 Reorg. Filing MAWSON INFRASTRUCTURE: Marshall Appeal Can't Proceed to Mediation MCLEAN AFFILIATES: Fitch Affirms 'BB+' IDR, Outlook Negative MERCHANTS BANCORP: Moody's Affirms Ba1 Local Currency Issuer Rating METICULOUS CLEANING: Hires Karina Pia Lucid as Bankruptcy Counsel MII AVIATION: Seeks to Extend Plan Exclusivity to Aug. 31 MILLERTON INC: Eric Huebscher Named Subchapter V Trustee MYRTLE BURGER: Hires Aleinik Law Firm PLLC as Special Counsel NANKE SIGNATURE: Hires Udall Shumway PLC as Bankruptcy Counsel NASSAU COUNTY TOBACCO: S&P Lowers 2006A-2 Bonds Rating to 'D (sf)' NAUTICUS ROBOTICS: Cuts Loan Conversion Price to $1.80 NETCAPITAL INC: Completes Asset Purchase of NetNudge AI Platform NOBLE FINANCE II: Moody's Ups CFR to 'Ba2', Outlook Stable NORTH FLORIDA: Jerrett McConnell Named Subchapter V Trustee NORTH RIVER BUILDERS: Starts Chapter 7 Bankruptcy in Massachusetts NOURISH BUYER I: Moody's Ups CFR to B2 & Alters Outlook to Stable NOVA TERRA: Seeks to Hire Landrau Rivera & Assoc. as Counsel OHIO LUXURY: Frederic Schwieg Named Subchapter V Trustee OLD GOAT ILRE: Commences Chapter 11 Bankruptcy in Kentucky OLENOX INDUSTRIES: Acquires CS Digital in $30 Million Transaction ORIGINCLEAR INC: Net Loss Widens to $2.1 Million in Q1 2026 OSTENDO TECHNOLOGIES: Amends Unsecured Claims Pay Details OUISI INC: Seeks to Hire Bond Schoeneck & King as Counsel OXBOW CARBON: S&P Alters Outlook to Stable, Affirms 'BB-' ICR P3 HEALTH: Confirms Compliance With Nasdaq Listing Requirements PACS LLC: Seeks to Hire Ridings Law Firm as Bankruptcy Counsel PEAK NA US: Seeks to Extend Plan Exclusivity to Sept. 1 PLANET GREEN: CFO Lili Hu Resigns; Wei Li Appointed Successor POWER REIT: Preferred Shareholders Report Beneficial Ownership PPS REALTY: Hires Robert C. Nisenson LLC as Bankruptcy Counsel PROGRESSIVE BUILDERS: Commences Chapter 7 Bankruptcy in New York QHSLAB INC: Reports 57% Revenue Growth in April 2026 QUIKRETE HOLDINGS: S&P Alters Outlook to Stable, Affirms 'BB' ICR RAMDEEN'S ELECTRICAL: Hires James J. DeCristofaro Esq. as Counsel RAZIF MANAGEMENT: Hires Modestas Law Offices PC as Counsel RED RIVER: Paul Hastings Reaches Deal in Ch. 11 Fee Fight RIBBIT ROOFING: Frances Smith Named Subchapter V Trustee ROADSIDE TOWING: Case Summary & 20 Largest Unsecured Creditors ROCKY MOUNTAIN: Posts $4.6MM Loss in FY26; Going Concern Persists ROLLING GREENS: Court OKs $350,000 Interim DIP Loan ROOTED ENTERPRISE: Taps Haselden Farrow PLLC as Bankruptcy Counsel ROTARY AIRLOCK: Court OKs $8.25 Interim DIP Loan From Central Bank SAKS GLOBAL: Cleared to Exit Chapter 11 Under $500M Recovery Plan SDRES PARTNERS: Commences Chapter 11 Bankruptcy in California SELECT ALTERNATIVE: Seeks Chapter 11 Bankruptcy in Maryland SEQUANS COMMUNICATIONS: Redeems All Remaining Convertible Debt SEWELL GRAVEL: Seeks Chapter 7 Bankruptcy in Massachusetts SHANNON WIND: Receives Green Light for Ch.11 Plan,$129MM Asset Sale SHARON VITALE: Unsecureds to Get $5K per Month over 3 Years SHEPARD TOWERS: Initiates Chapter 11 Bankruptcy in New York SHERMAN/GRAYSON: Ex-Hospital Owner Opposes Ch. 7 Conversion Bid SHUTTERFLY LLC: Moody's Puts 'Caa2' CFR Under Review for Upgrade SIGNITIVES TECHNOLOGIES: Frances Smith Named Subchapter V Trustee SIMAD HOLDINGS: Seeks Chapter 11 Bankruptcy with Over $500MM Debt SINTX TECHNOLOGIES: Receives Nasdaq Non-Compliance Notice on Equity SLEEP NUMBER: Prepares for Chapter 11 Bankruptcy Filing to Cut Debt SMITH MICRO: William Smith, Jr. Reports 37.3% Beneficial Ownership SMOKIN OAKS: Seeks to Hire Dunham Hildebrand Payne as Counsel SN TRANSPORT: Seeks Chapter 7 Bankruptcy in Puerto Rico SPIRIT AIRLINES: Unions Object to Proposed Exec Bonuses in Ch. 11 SPIRIT AVIATION: Port Authority Objects Bid to Sell LaGuardia Slots STAR HOLDING: Moody's Affirms 'Ba2' CFR & Alters Outlook to Stable STAR MAGNOLIA: Seeks Chapter 7 Bankruptcy in New York TACTICAL GEAR: Seeks to Hire KC Cohen Lawyer as Bankruptcy Counsel TECHLOTT INC: Says LOTT Ticker Took Effect June 3 TELEFLEX INC: Moody's Rates New Senior Unsecured Notes 'Ba2' TEXAS AUTO: Seeks to Hire Paul McClintock as Financial Consultant TEXAS AUTO: Seeks to Hire Smeberg Law Firm PLLC as Attorney TIDEWATER INC: Moody's Ups CFR to 'B1', Outlook Remains Stable TODD CREEK: Homeowners Seek Chapter 11 Trustee Appointment TRADE WINDS: Seeks to Hire Anyama Law Firm as Bankruptcy Counsel TRANS EXPRESS: Seeks to Tap David Freydin PC as Bankruptcy Counsel TRANSGLOBAL MANAGEMENT: Acquires Continuum Software in Stock Deal TRANSOCEAN LTD: All 11 Proposals Passed at 2026 Annual Meeting TRANSOCEAN LTD: Board Dissolves Finance Committee Effective July 1 TRILLION ENERGY: FY2025 Net Loss Widens to $49.2 Million TRINSEO PLC: Moody's Cuts Probability of Default Rating to D-PD TRINSEO PLC: Taps Kroll Restructuring as Claims and Noticing Agent TWENTY THREE: Case Summary & Two Unsecured Creditors TWO FISH: Case Summary & Eight Unsecured Creditors UNCLE NEAREST: New Buyer Wants to Buy Brand, Nearest Distillery UNIVERSITY STONE: Taps Norgaard O'Boyle & Hannon as Counsel URBAN ONE: S&P Downgrades ICR to 'SD' on Subpar Debt Repurchase VALOR CLUB: Commences Chapter 11 Bankruptcy in Texas VENTURE GLOBAL: Moody's Rates New Senior Secured Notes 'B1' VERASTEM INC: Registers 17.6M Shares Under Three Equity Plans VERASTEM INC: Shareholders Elect Directors, Back Equity Plans VIAVI SOLUTIONS: Fitch Hikes LongTerm IDR to 'BB', Outlook Stable VT TOPCO: Fitch Affirms 'B' LongTerm IDR, Outlook Stable WABNO HOSPITALITIES: Unsecureds Will Get 100% over 5 Years WEST RIDGE HOLDCO: Starts Chapter 11 Bankruptcy in Colorado WHIRLPOOL CORP: Moody's Rates New $1.5BB Second Lien Notes 'Ba1' WISCONIC LLC: Seeks Approval to Hire HYPERAMS LLC as Auctioneer WISER SOLUTIONS: Hires SSG Advisors LLC as Investment Banker WISER SOLUTIONS: Seeks to Hire Hogan Lovells US LLP as Attorney WISER SOLUTIONS: Seeks to Hire Thompson Coburn LLP as Attorney WISER SOLUTIONS: Taps S. Avila and D. Harer of Paladin as Co-CRO XANDRIA HOLDINGS: Seeks Approval to Tap Blake P. Fine as Appraiser XCEL BRANDS: Raises $15,650 via White Lion Equity Facility [] Cohn & Dussi Expands Collections and Legal Support Into Canada ********* 1300 DESERT: Administrator Taps David M. Banker as Counsel ---------------------------------------------------------- Mark Calvert, plan administrator of 1300 Desert Willow Road, LLC, seeks approval from the U.S. Bankruptcy Court for the Law Offices of David M. Banker, Esq. as his counsel. The firm's services include: (i) taking the engagement of professionals, including counsel and a real estate broker, (ii) taking the Sale Process related to the Property, from inception through closing, including seeking final court approval; (iii) making distributions on allowed claims; (iv) finalizing and closing the case, including seeking a final decree; and (v) providing all other services necessary to assist the Plan Administrator in connection with the above. The firm will charge $650 per hour for the services of David M. Banker, the counsel responsible for this case. As disclosed in the court filings, Law Offices of David M. Banker, Esq. is a "disinterested person" within the meaning of 11 U.S.C. Sec. 101(14). The firm can be reached through: David M. Banker, Esq. Law Offices of David M. Banker, Esq. 43 West 43rd Street, Suite 451 New York, NY 10036 Phone: (646) 402-5136 Email: dbanker@davidbankerlaw.com About 1300 Desert Willow Road 1300 Desert Willow Road, LLC, owns a property at 1300 Desert Willow Road in Los Lunas, New Mexico, valued at $40 million. 1300 Desert Willow Road sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Case No. 25-11375) on June 22, 2025. In its petition, the Debtor reported between $10 million and $50 million in assets and liabilities. Judge Philip Bentley oversees the case. The Debtor is represented by Bronson Law Offices, PC. Romspen Investment LP, as lender, is represented by Bryan Cave Leighton Paisner, LLP. 1377 BRONX: Seeks Chapter 11 Bankruptcy in New York --------------------------------------------------- On June 3, 2026, 1377 Bronx River Ave LLC filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Eastern District of New York. According to court filings, the Debtor reports between $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 Section 341(a) to be held on June 29, 2026 at 09:00 AM at USA Toll-Free (888) 330-1716, USA Caller Paid/International Toll (713) 353-7024, Access Code 8185618. The Chapter 11 Plan and Disclosure Statement are due on Oct. 1, 2026. About 1377 Bronx River Ave LLC 1377 Bronx River Ave LLC is a real estate holding and property management company engaged in the ownership, leasing, and operation of real estate assets. 1377 Bronx River Ave LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-42727) on June 3, 2026. In its petition, the Debtor reports estimated assets of $100,001 to $1 million and estimated liabilities of $100,001 to $1 million. The Honorable Bankruptcy Judge Elizabeth S. Stong handles the case. 1777 MONROE: Case Summary & 15 Unsecured Creditors -------------------------------------------------- Debtor: 1777 Monroe LLC 1777 Monroe Avenue Bronx, NY 10457 Business Description: 1777 Monroe LLC is a real estate company that owns and leases a residential property at 1777 Monroe Avenue in the Bronx, New York, with an estimated value of $900,000. Chapter 11 Petition Date: June 1, 2026 Court: United States Bankruptcy Court Southern District of New York Case No.: 26-11314 Judge: Hon. Lisa G Beckerman Debtor's Counsel: Avrum J. Rosen, Esq. ROSEN, TSIONIS & PIZZO, PLLC 38 New St Huntington, NY 11743-3327 Tel: 631-423-8527 Fax: 631-423-4536 E-mail: arosen@ajrlawny.com Total Assets: $900,000 Total Liabilities: $4,251,314 The petition was signed by David Goldwasser as chief restructuring officer. A full-text copy of the petition, which includes a list of the Debtor's 15 unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/PUJGZEI/1777_Monroe_LLC__nysbke-26-11314__0001.0.pdf?mcid=tGE4TAMA 1779 MONROE: Case Summary & 17 Unsecured Creditors -------------------------------------------------- Debtor: 1779 Monroe LLC 1779 Monroe Avenue Bronx, NY 10457 Business Description: 1779 Monroe LLC is a single-asset real estate entity that owns and leases a residential property at 1779 Monroe Avenue in the Bronx, New York, with an estimated value of $850,000. Chapter 11 Petition Date: June 1, 2026 Court: United States Bankruptcy Court Southern District of New York Case No.: 26-11315 Judge: Hon. Lisa G Beckerman Debtor's Counsel: Avrum J. Rosen, Esq. ROSEN, TSIONIS & PIZZO, PLLC 38 New St Huntington, NY 11743-3327 Tel: 631-423-8527 Fax: 631-423-4536 Email: arosen@ajrlawny.com Total Assets: $850,000 Total Liabilities: $4,170,326 The petition was signed by David Goldwasser as chief restructuring officer. A full-text copy of the petition, which includes a list of the Debtor's 17 unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/PSNDLMI/1779_Monroe_LLC__nysbke-26-11315__0001.0.pdf?mcid=tGE4TAMA 22 HIGH MOUNTAIN: Hires Robert S. Lewis PC as Bankruptcy Counsel ---------------------------------------------------------------- 22 High Mountain, LLC seeks approval from the U.S. Bankruptcy Court for the Southern District of New York to hire Robert S. Lewis, PC to serve as its counsel. The firm will render these services: (a) advise the Debtor with respect to its rights, powers, and obligations in the continued management of its assets and affairs; (b) advise and consult the Debtor on the conduct of the Chapter 11 case; (c) take all necessary actions to protect and preserve the Debtor's estate; (d) prepare on the Debtor's behalf any legal papers necessary to the administration of its Chapter 11 case; (e) negotiate and prepare on the Debtor's behalf plan(s) of reorganization, disclosure statement(s) and all related agreements and/or documents and take any necessary action on its behalf to obtain confirmation of such plan(s); (f) advise the Debtor in connection with the sale of any assets; (g) attend meetings and negotiate with representatives of creditors and other parties in interest; (h) appear before this Court, any appellate courts, and the U.S. Trustee, and protect the interests of the Debtor's estate before such courts and the U.S. Trustee; and (i) perform all other necessary legal services and provide all other necessary or appropriate legal advice to the Debtor in connection with the Chapter 11 case. The firm will be paid at these hourly rates: Robert Lewis, Attorney $450 Jasmine Rosa, Paralegal $150 Mr. Lewis disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Robert G. Lewis, Esq. Law Offices of Robert S. Lewis, PC 3 Burd Street Nyack, NY 10960 Telephone: (854) 358-7100 About 22 High Mountain, LLC 22 High Mountain, LLC is a single-asset real estate entity that owns a single-family residential property at 22 High Mountain Road in Pomona, New York 10970, which is valued at approximately $1.8 million. 22 High Mountain, LLC filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. S.D.N.Y. Case No. 26-22396) on April 20, 2026, listing $1,800,000 in assets and $1,300,000 in liabilities. The petition was signed by Yosef Lowenbein as member. Judge Sean H Lane presides over the case. Robert Lewis, Esq. at Robert S. Lewis PC serves as the Debtor's counsel. 2762 KINGSBRIDGE: Case Summary & 12 Unsecured Creditors ------------------------------------------------------- Debtor: 2762 Kingsbridge Terrace LLC 2762 Kingsbridge Terrace Bronx, NY 10463 Business Description: 2762 Kingsbridge Terrace LLC is a real estate company that owns and leases a residential property at 2762 Kingsbridge Terrace in the Bronx, New York. The property is valued at about $2.5 million. Chapter 11 Petition Date: June 1, 2026 Court: United States Bankruptcy Court Southern District of New York Case No.: 26-11313 Judge: Hon. Lisa G Beckerman Debtor's Counsel: Avrum J. Rosen, Esq. ROSEN, TSIONIS & PIZZO, PLLC 38 New St Huntington, NY 11743-3327 Tel: 631-423-8527 E-mail: arosen@ajrlawny.com Total Assets: $2,500,717 Total Liabilities: $3,785,850 The petition was signed by David Goldwasser as chief restructuring officer. A full-text copy of the petition, which includes a list of the Debtor's 12 unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/PIGLPZY/2762_Kingsbridge_Terrace_LLC__nysbke-26-11313__0001.0.pdf?mcid=tGE4TAMA 309 NORTH: Seeks Subchapter V Bankruptcy in New York ---------------------------------------------------- On June 3, 2026, 309 North Avenue LLC 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. The Small Business Subchapter V Chapter 11 Plan is due by Sept. 1, 2026. About 309 North Avenue LLC 309 North Avenue LLC is a real estate holding and property management company engaged in the ownership, leasing, and operation of real estate assets. 309 North Avenue LLC sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-22564) on June 3, 2026. In its petition, the Debtor reports estimated assets of $0 to $100,000 and estimated liabilities of $100,001 to $1 million. The Honorable Bankruptcy Judge Sean H. Lane handles the case. 3112 N SPEER: Seeks Chapter 7 Bankruptcy in Colorado ---------------------------------------------------- On June 4, 2026, 3112 N Speer LLC filed a voluntary petition for relief under Chapter 7 in the U.S. Bankruptcy Court for the District of Colorado. The Debtor reported liabilities between $100,001 and $1 million and indicated that it has between 1 and 49 creditors. A meeting of creditors under 341(a) to be held on July 7, 2026 at 02:00 PM at Zoom - Sender: Meeting ID 937 836 4769, Passcode 4293202864, Phone 720-287-7436. About 3112 N Speer LLC 3112 N Speer LLC is engaged in real estate investment, property ownership, and management activities. 3112 N Speer LLC filed for Chapter 7 protection under the U.S. Bankruptcy Code (Case No. 26-14013) on June 4, 2026. In its petition, the company reported estimated assets ranging from $100,001 to $1 million and estimated liabilities ranging from $100,001 to $1 million. Honorable Bankruptcy Judge Kimberley H. Tyson handles the case. 330 BAYWOOD: Seeks Chapter 7 Bankruptcy in New York --------------------------------------------------- On June 4, 2026, 330 Baywood Dr 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 $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 July 8, 2026 at 10:30 AM at Zoom.us/join - Barnard: Meeting ID 356 299 9857, Passcode 4702957989, Phone 1 (516) 388-5319. About 330 Baywood Dr LLC 330 Baywood Dr LLC is a real estate holding company engaged in the ownership, management, and operation of residential or commercial property assets. 330 Baywood Dr LLC sought relief under Chapter 7 of the U.S. Bankruptcy Code (Bankr. Case No. 26-72272) on June 4, 2026. In its petition, the Debtor reports estimated assets of $100,001 to $1 million and estimated liabilities of $1 million to $10 million. The Honorable Bankruptcy Judge Louis A. Scarcella handles the case. 361 S 1ST STREET: Seeks Chapter 11 Bankruptcy in New York --------------------------------------------------------- On June 4, 2026, 361 S 1st Street 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 $100,001 and $1 million in debt owed to between 1 and 49 creditors. A meeting of creditors filed by the William J. Birmingham under Section 341(a) to be held on July 7, 2026 at 02:00 PM at USA Toll-Free (888) 330-1716, USA Caller Paid/International Toll (713) 353-7024, Access Code 7219992. About 361 S 1st Street Corp. 361 S 1st Street Corp. is a real estate company engaged in the ownership, leasing, management, and operation of property assets. 361 S 1st Street Corp. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-72271) on June 4, 2026. In its petition, the Debtor reports estimated assets of $100,001 to $1 million and estimated liabilities of $100,001 to $1 million. The Honorable Bankruptcy Judge Louis A. Scarcella handles the case. 4010 THOR: Unsecureds to be Paid in Full over 60 Months ------------------------------------------------------- 4010 Thor Collision Corp. filed with the U.S. Bankruptcy Court for the Southern District of Florida a Subchapter V Plan of Reorganization dated May 26, 2026. The Debtor is an auto body repair shop that has been operating for a number of years in Palm Beach County, Florida. The Debtor is a full service auto body shop that performs automotive body services for retail clients and commercial clients, including car dealers and rental car agencies. The Debtor is a "S" corporation, with 100% of the Stock being held by Francesca Velluzzi. Ms. Velluzzi is also the Debtor's president and sole officer. This Subchapter V Plan of Reorganization proposes to pay to creditors of the Debtor from future income generated from business activities and operations of the Debtor's auto body repair shop located in Palm Beach County, Florida. This Plan provides for 1 class of priority claims, 4 classes of secured claims, 1 class of nonpriority unsecured claims, and 1 class of equity security holders. Priority claims will be paid in full upon the Effective Date of the Plan. Secured creditors will be paid the allowed amount of their claims over 60 months in equal monthly payments. Non-priority unsecured claims will be paid the allowed amount of their claims over 60 months in equal monthly payments, from projected future income. Any claims not paid in full upon the Effective Date of the Plan will receive 3% interest on the allowed amount of their claims. Non-priority unsecured creditors holding allowed claims will receive distributions, which the proponent of this Plan has valued at full payment, based on the claims filed. The Plan also provides for the payment of administrative and priority claims, in full upon the Effective Date of the Plan. Class 7 consists of General Unsecured Claims. The full amount of the allowed claim, will be paid, with interest at 3%, over 60 months, with the first payment to be made upon the Effective Date of the Plan, and monthly thereafter. This Class is impaired. The Debtor will use income generated from their ongoing and future business activities and operations to fund the Plan. On Confirmation of the Plan, all property of the Debtor, tangible and intangible, including, without limitation, licenses, furniture, fixtures and equipment, all legal and equitable interests, real estate, and business interests, will revert, free and clear of all Claims and Equitable Interests except as provided in the Plan, to the Debtor. The Debtor expects to have sufficient cash on hand to make the payments required on the Effective Date. A full-text copy of the Plan of Reorganization dated May 26, 2026 is available at https://urlcurt.com/u?l=KZjAe0 from PacerMonitor.com at no charge. Counsel to the Debtor: Stephen C. Breuer, Esq. Breuer Law, PLLC 6501 Congress Ave., Ste. 240 Boca Raton, FL 33487 Telephone: (954) 607-3244 Facsimile: (954) 607-3244 Email: Stephen@breuer.law About 4010 Thor Collision Corp 4010 Thor Collision Corp. is an automotive body repair business based in Boynton Beach, Florida. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S. D. Fla. Case No. 26-12210) on February 24, 2026, listing up to $500,000 in assets and up to $1 million in liabilities. Francesca Velluzz, president of 4010 Thor Collision, signed the petition. Judge Mindy A. Mora oversees the case. Stephen Breuer, Esq., at Breuer Law, PLLC, represents the Debtor as bankruptcy counsel. 522 FIFTH: Seeks Chapter 11 Bankruptcy in Tennessee --------------------------------------------------- On June 4, 2026, 522 Fifth Venture, LLC filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Middle District of Tennessee. 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 July 9, 2026 at 02:00 PM via Meeting held telephonically. Please call 888-330-1716 and enter code 3884044# to attend. The Debtor must submit its Chapter 11 Plan and accompanying Disclosure Statement no later than Oct. 2, 2026. About 522 Fifth Venture, LLC 522 Fifth Venture, LLC is a real estate investment and development company engaged in the ownership, management, leasing, and operation of commercial property assets. 522 Fifth Venture, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-02683) on June 4, 2026. In its petition, the Debtor reports estimated assets of $10 million to $50 million and estimated liabilities of $10 million to $50 million. The Honorable Bankruptcy Judge Nancy B. King handles the case. The Debtor is represented by Michael G. Abelow, Esq., of Sherrard Roe Voigt & Harbison, PLC. 56 THIRD: Commences Chapter 11 Bankruptcy in New York ----------------------------------------------------- On May 29, 2026, 56 Third Food 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 liabilities of $0–$100,000 owed to approximately 1–49 creditors. A meeting of creditors filed by the Office of the United States Trustee under Section 341(a) to be held on June 29, 2026 at 01:30 PM at USA Toll-Free (888) 330-1716, USA Caller Paid/International Toll (713) 353-7024, Access Code 6982178. September 28, 2026 is set for Chapter 11 Plan and Disclosure Statement submission. About 56 Third Food Corp. 56 Third Food Corp is a food service and retail company operating in the New York metropolitan area, engaged in the sale and distribution of prepared foods and related products. 56 Third Food Corp sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-42646) on May 29, 2026, reporting estimated assets of $0–$100,000 and estimated liabilities of $0–$100,000. Honorable Bankruptcy Judge Jil Mazer-Marino handles the case. The Debtor is represented by Lawrence Morrison, Esq. 7052 DUME: Seeks Chapter 7 Bankruptcy in California --------------------------------------------------- On June 2, 2026, 7052 Dume Drive LLC filed for Chapter 7 protection in the U.S. Bankruptcy Court for the Central District of California. According to court filings, the Debtor reports liabilities between $10 million and $50 million owed to approximately 1–49 creditors. A meeting of creditors under Section 341(a) to be held on July 1, 2026 at 01:30 PM via Zoom - Goldman: Meeting ID 630 029 1769, Passcode 3548121645, Phone 1 747 285 4196. About 7052 Dume Drive LLC 7052 Dume Drive LLC is a real estate holding company associated with high-value property ownership and investment activities in California. The company operates within the residential and luxury real estate sector. 7052 Dume Drive LLC sought relief under Chapter 7 of the U.S. Bankruptcy Code (Bankr. Case No. 26-11201) on June 2, 2026, reporting estimated assets and liabilities each in the range of $10 million–$50 million. Honorable Bankruptcy Judge Martin R. Barash handles the case. The Debtor is represented by Mac E. Nehoray, Esq. of Southern California Attorneys, APC. 767 TIFT: Initiates Chapter 7 Bankruptcy in Georgia --------------------------------------------------- On June 2, 2026, 767 Tift LLC filed for Chapter 7 protection in the U.S. Bankruptcy Court for the Northern District of Georgia. According to court filings, the Debtor reports liabilities between $100,001 and $1,000,000 owed to approximately 1–49 creditors. A meeting of creditors under Section 341(a) to be held on July 7, 2026 at 03:00 PM via Telephone conference. To attend, Dial 888-330-1716 and enter access code 6960876. About 767 Tift LLC 767 Tift LLC is a real estate holding company engaged in property ownership and investment activities in Georgia. The company manages commercial and residential real estate assets. 767 Tift LLC sought relief under Chapter 7 of the U.S. Bankruptcy Code (Bankr. Case No. 26-57283) on June 2, 2026, reporting estimated assets and estimated liabilities both in the range of $100,001–$1,000,000. 7TH PAR HOLDINGS: Hires Equal Justice Law Group as Legal Counsel ---------------------------------------------------------------- 7th Par Holdings, LLC seeks approval from the U.S. Bankruptcy Court for the Eastern District of California to hire Equal Justice Law Group as counsel. The firm's services include: a. providing legal advice and counsel to the Debtor regarding its powers and duties as Debtor in Possession in the continued operation of its business, management of its financial affairs, and handling of its property, including advice regarding the administration of the estate and the rights and remedies relating to the estate's assets and the claims of secured and unsecured creditors, and other parties in interest; b. preparing, on behalf of but with the assistance of the Debtor, all necessary applications, answers, orders, reports, and other legal papers, including the contemplated plan of reorganization and disclosure statement; and c. performing all other legal services necessary for the proper representation of the Debtor as Debtor in Possession in this proceeding. The firm will be retained at an hourly rate of $450, with an initial retainer already paid to Equal Justice Law Group in the amount of $10,000. Equal Justice Law Group is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code, according to court filings. The firm can be reached through: David Foyil, Esq. Equal Justice Law Group 601 Court Street, Suite 106 Jackson, CA 95642 Telephone: (209) 223-5363 Facsimile: (209) 702-0001 Email: mail@equaljusticelawgroup.com About 7th Par Holdings, LLC 7th Par Holdings, LLC is a single asset real estate company. 7th Par Holdings, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Cal. Case No. 26-11904) on April 28, 2026. In its petition, the debtor reports estimated assets of $100,001 to $1,000,000 and estimated liabilities of $1 million to $10 million. Honorable Bankruptcy Judge Jennifer E. Niemann handles the case. The debtor is represented by David Foyil, Esq. 8830 172ND LLC: Samuel Dawidowicz Named Subchapter V Trustee ------------------------------------------------------------ The U.S. Trustee for Region 2 appointed Samuel Dawidowicz as Subchapter V trustee for 8830 172nd LLC. Mr. Dawidowicz will be paid an hourly fee of $595 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Dawidowicz declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Samuel Dawidowicz 215 East 68th Street New York, NY 10065 Phone: (917) 679-0382 About 8830 172nd LLC 8830 172nd LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.Y. Case No. 26-42555) on May 27, 2026., with assets of between $50,001 and $100,000 and liabilities of between $100,001 and $500,000. Judge Elizabeth S. Stong presides over the case. 90 PLEASANT VALLEY: Seeks Chapter 11 Bankruptcy in New Jersey ------------------------------------------------------------- On June 4, 2026, 90 Pleasant Valley Street Leasing LLC filed for Chapter 11 protection in the U.S. Bankruptcy Court for the District of New Jersey. According to court filings, the Debtor reports between $500 million and $1 billion in debt owed to between 50,001 and 100,000 creditors. About 90 Pleasant Valley Street Leasing LLC 90 Pleasant Valley Street Leasing LLC is a leasing and property-holding company engaged in commercial real estate ownership, management, and leasing activities. 90 Pleasant Valley Street Leasing LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-16490) on June 4, 2026. In its petition, the Debtor reports estimated assets of $100 million to $500 million and estimated liabilities of $500 million to $1 billion. The Debtor is represented by Michael D. Sirota, Esq., of Cole Schotz P.C. 949 FAIR STREET: Seeks Subchapter V Bankruptcy in Georgia --------------------------------------------------------- On June 2, 2026, 949 Fair Street LLC filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Northern District of Georgia. According to court filings, the Debtor reports between $100,001 and $1,000,000 in debt owed to approximately 1–49 creditors. A meeting of creditors under Section 341(a) to be held on July 10, 2026 at 11:00 AM via Telephone conference. To attend, Dial 888-330-1716 and enter access code 6960876. Subchapter V Reorganization Plan must be filed by August 31, 2026. About 949 Fair Street LLC 949 Fair Street LLC is a real estate holding company engaged in the ownership, management, and investment of property assets. The company operates within Georgia’s real estate sector. 949 Fair Street LLC sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-57299) on June 2, 2026. In its petition, the Debtor reported estimated assets of $0–$100,000 and estimated liabilities of $100,001–$1,000,000. AARONS LANDSCAPING: Seeks to Hire Bell & Bell PLLC as Accountant ---------------------------------------------------------------- Aarons Landscaping, LLC filed an amended application seeking approval from the U.S. Bankruptcy Court for the Western District of Washington to employ Bell & Bell, PLLC as its CPA. The firm's services include: a. preparing and filing of tax returns for the Debtor and the Chapter 11, Subchapter V estate; b. advising the Debtor regarding general accounting and tax-related matters; and c. preparing of the Bankruptcy Monthly Operating Reports: Assisting the Debtor with bookkeeping and financial record-keeping necessary to prepare and file the monthly operating reports required in Subchapter V cases. The compensation structure for these accounting and bookkeeping services is based on flat fees rather than standard hourly rates, detailed as follows: 1. The charge for monthly bookkeeping is $405 per month, which includes the Department of Revenue (DOR) filing. 2. The charge per payroll run is $50. For the company's current setup of one (1) employee, there are two runs per month, totaling $100 per month. Jeffrey Bell, a certified public accountant with Bell & Bell, PLLC, assured the court 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: Jeffrey Bell, CPA Bell & Bell, PLLC 5401 104th St E, Ste A Puyallup, WA 98373 Phone: (253) 539-8379 Email: Jeff@bellscpa.com About Aarons Landscaping, LLC Aarons Landscaping, LLC, filed a Chapter 11 bankruptcy petition (Bankr. W.D. Wash. Case No. 26-40864-MJH) on March 27, 2026. At the time of filing, the Debtor estimates $50,001 to $100,000 in assets and $100,001 to $500,000 in liabilities. Judge presides over the case. The Debtor hires Devlin Law Firm LLC as counsel. ACI ROVER: Moody's Gives 'B2' Rating to New 1st Lien Term Loan B ---------------------------------------------------------------- Moody's Ratings affirmed ACI Rover Parent, LLC's (ACI Rover, formerly known as BCP Renaissance Parent L.L.C.) B2 Corporate Family Rating and B2-PD Probability of Default Rating and assigned a B2 rating to its proposed new senior secured first lien Term Loan B. Moody's also affirmed the B2 rating on its existing senior secured first lien term loan B. The ratings outlook remains stable. ACI Rover was acquired by funds and accounts managed by Ares Management from funds managed by The Blackstone Group L.P. ARES has contributed meaningful equity which will be used with the proceeds of a new senior secured first lien Term Loan B to refinance ACI Rover's existing debt in connection with the acquisition. "The affirmation of ACI Rover's ratings reflects the benefits of debt reduction funded by an equity injection from its new owner," said Jake Leiby, Moody's Ratings Vice President - Senior Analyst. "This has helped mitigate the uncertainties related to the ongoing ad valorem dispute and its affect on future EBITDA generation and distributions received from Rover Pipeline." RATINGS RATIONALE ACI Rover's B2 CFR is supported by the stable cash flow it receives from its 49.9% ownership interest in ET Rover Pipeline LLC (ET Rover, unrated). ET Rover is an intermediate holding company that owns a 65% interest in Rover Pipeline LLC (Rover, unrated). Rover is a 700+ mile strategic pipeline transporting natural gas from Appalachia to demand centers across the Midwest, Gulf Coast, and Canada and has been in fully in-service since 2018. Rover benefits from the 90% of its 3.4 billion cubic feet per day (Bcf/d) capacity that is underpinned by long-term contracts. Rover is unlevered and its joint venture agreement requires the distribution of all available free cash flow to its owners. Even with the equity funded debt reduction, the company's credit profile is constrained by its still substantial debt levels and uncertainty over its leverage profile due to Rover's ongoing ad valorem (property) tax dispute with the state of Ohio. Rover received an adverse ruling from the Ohio Supreme Court in August 2025 that resulted in a large payment for ad valorem taxes including interest related to 2019. Rover has separately appealed each assessment year since 2019 to the Ohio Board of Tax Appeals and all of its appeals remain pending. Adverse outcomes to Rover's ongoing appeals would negatively impact its EBITDA generation and the size and regularity of the distributions it is able to pay to its owners. ACI Rover is fully entirely reliant on distributions from Rover to fund any cash requirements, and further adverse outcomes to Rover's appeals would result in leverage remaining well over 5.5x for an extended period. The stable outlook reflects Moody's expectations for ACI Rover to not incur incremental debt and to receive consistent distributions from Rover. Moody's expects ACI Rover to maintain adequate liquidity to meet its limited needs through at least 2027. The company does not have a revolving credit facility and is expected to maintain a minimal cash balance, leaving it fully reliant on cash distributions from Rover to fund any cash requirements. Unlike the existing Term Loan B, the proposed Term Loan B does not have a cash sweep that requires the company to reduce debt when leverage is above certain thresholds. Therefore Moody's do not expect debt levels to decline and ongoing deleveraging will be primarily driven by EBITDA growth. The proposed Term Loan B has a financial covenant requiring the maintenance of a debt service coverage ratio of no less than 1.05x, which Moody's expects to be met by a comfortable margin. ACI Rover's proposed senior secured Term Loan B and existing Term Loan B are rated B2, the same as the CFR, because there is no other debt in the capital structure. Moody's expects to withdraw the ratings on the existing senior secured Term Loan B when it is extinguished. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS ACI Rover's ratings could be upgraded if its new owner develops a track record of adhering to its stated financial policies and greater clarity is reached around Rover's ongoing property tax dispute. Maintenance of debt/EBITDA below 5.5x, FFO/debt above 10%, or an improvement in the credit quality of Rover's contracted shippers could also contribute to an upgrade. The ratings could be downgraded if the outcome of Rover's ongoing property tax dispute is worse than expected, the credit quality of Rover's contracted shippers significantly deteriorates, or if debt/EBITDA is sustained above 7.0x. ACI Rover Parent, LLC is 100% owned by Ares Management funds. Ares Management is a global alternative investment manager that operates an integrated platform across multiple business groups. ET Rover LLC is the entity through which ACI Rover and Energy Transfer LP (ET, Baa2 stable) own a 65% interest in Rover (a 713 mile, 3.4 Bcfd interstate natural gas pipeline). The principal methodology used in these ratings was Natural Gas Pipelines published in April 2024. There is multiple notch difference between the company's B2 CFR and the Ba3 scorecard-implied rating. The assigned rating reflects a greater emphasis placed on its non-operated minority ownership position, ongoing property tax dispute and related effects on EBITDA generation and leverage, and limited stand-alone liquidity. ADIENT GLOBAL: Moody's Ups CFR to Ba3 & Senior Secured Notes to Ba1 ------------------------------------------------------------------- Moody's Ratings upgraded Adient Global Holdings Ltd's (Adient) corporate family rating to Ba3 from B1, the probability of default rating to Ba3-PD from B1-PD, the senior secured notes rating to Ba1 from Ba2 and the senior unsecured notes rating to B1 from B2. At the same time, Moody's upgraded the rating of the senior secured first lien term loan B2 at Adient's wholly owned subsidiary, Adient US LLC, to Ba1 from Ba2. The outlook was maintained at stable. Adient's speculative grade liquidity rating was unchanged at SGL-1. The upgrades reflect Moody's expectations that automotive seating trends remain favorable, driven by continued advancements in safety and comfort features such as driver assistance integration, occupant out-of-position protection, deep-recline and massage functionalities and flexible interior configurations. These innovations are likely to gain momentum in the coming years, supporting above-market growth and higher returns. Moody's also expects that margins will be supported by strong operational execution, benefits from prior restructuring actions and continued growth in innovation and automation. Adient manages opportunistic share repurchases prudently without impairing its moderate financial leverage or robust liquidity position. RATINGS RATIONALE Adient's ratings reflect its position as the global leader in automotive seating with strong geographic and customer diversification highlighted by long-standing relationships with all major automobile manufacturers. The company's steady innovation is capturing the industry's accelerated deployment of light vehicle seating comfort features, providing higher return opportunities. Good platform launch execution and operational improvements have been instrumental in supporting stable returns, along with new business wins with domestic Chinese automakers where a higher level of vertical integration is captured. Onshoring momentum in the Americas and new conquest wins globally reflect higher content, more complex seating systems and deeper integration with customers. More consistent profitability has also been a result of tighter cost controls along with automation efforts and optimization of plant layouts that should enable Adient to better withstand industry cyclicality while strengthening margins. As a pure-play seating provider, margins are modest relative to other automotive suppliers and are therefore more sensitive to light vehicle production volumes. Additionally, Adient will continue to face some margin compression with its pivot to local Chinese manufacturers. For Adient's fiscal 2026, Moody's anticipates an EBIT margin in excess of 3.5% with free cash flow solidly positive but lower than prior years due to several non-recurring items, including a tax settlement. Debt-to-EBITDA is expected to remain flat near 3x. For fiscal 2027, Moody's are projecting an EBIT margin approaching 4%, free cash flow rebounding to at least $125 million and debt-to-EBITDA falling below 3x. The stable outlook reflects Moody's expectations of modest margin improvement and solid free cash flow generation despite macroeconomic headwinds, including tariffs and pressure on consumers from higher fuel costs related to the Middle East conflict. Uneven production volumes from key customers will also continue to weigh on the company's results through fiscal 2026. Favorably, Adient has contractual pricing mechanisms in place for its two largest raw material inputs, chemicals and steel, that largely mitigate the impact of escalating costs, albeit with a timing lag. The roll-off of lower margin legacy contracts through this year will provide additional margin tailwinds to help offset the potential for flat light vehicle production volumes. The SGL-1 speculative grade liquidity rating reflects Moody's expectations that Adient will maintain very good liquidity supported by cash of at least $700 million and substantial borrowing availability ($957 million at March 31, 2026) under Adient US LLC's unrated and undrawn $1 billion asset-based lending (ABL) facility set to expire in October 2030. Free cash flow will be lower in 2026, though solidly positive, before rebounding in 2027 with the absence of the previously mentioned one-time items. Adient enters into supply chain financing programs to sell accounts receivable without recourse to third-party financial institutions. The outstanding amount was $176 million at March 31, 2026. While not Moody's base line expectation, if Adient becomes unable to extend these receivables programs, borrowings under the ABL facility would potentially be required to meet working capital needs. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS The ratings could be upgraded with continued stability in operating performance, reflected in the EBIT margin approaching the mid-4% range, even during periods of more subdued global light vehicle production. EBITDA-to-interest in excess of 7x, debt-to-EBITDA near 3x or below and free cash flow-to-debt of at least 5% would also be key considerations for an upgrade. The ratings could be downgraded if the EBIT margin declines toward 3%, free cash flow trends to breakeven or debt-to-EBITDA exceeds 4x. EBITDA-to-interest remaining below 4x could also create negative rating pressure. Deteriorating liquidity, including extended reliance on the ABL facility for working capital needs, or cash falling significantly below $700 million could also result in a negative rating action. The principal methodology used in these ratings was Automotive Suppliers published in November 2025. The net effect of any adjustments applied to rating factor scores or scorecard outputs under the primary methodology(ies), if any, was not material to the ratings addressed in this announcement. Adient plc, the parent company of Adient Global Holdings Ltd, is one of the world's largest automotive seating manufacturers with long-standing relationships with many, including the largest, global automotive manufacturers. Automotive seating solutions include complete seating systems, frames, mechanisms, foam, head restraints, armrests, trim covers and fabrics. Adient operates in the Chinese automotive seating market through several joint ventures. Revenue for the twelve months ended March 31, 2026 was approximately $15 billion. ADUDDELL INDUSTRIES: Seeks to Hire Berger Singerman LLP as Counsel ------------------------------------------------------------------ Aduddell Industries and Roofing, LLC seeks approval from the U.S. Bankruptcy Court for the Southern District of Florida to hire Berger Singerman LLP as counsel. The firm will render these services: (a) give advice to the Debtor 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 United States Trustee's Operating Guidelines and Reporting Requirements and with the rules of the Court; (c) prepare motions, pleadings, draft orders, applications, adversary proceedings, and other legal documents necessary for the efficient administration of this Chapter 11 Case; (d) protect the interests of the Debtor in all matters pending before the Court; and (e) represent the Debtor in negotiations with its creditors, and in the preparation of a plan. The firm's current hourly rates are: Brian G Rich $935 Michael J. Niles $770 Associates & Of Counsel $470 to $780 On April 17, 2026, Berger Singerman received an initial retainer from the Debtor in the amount of $3,500. Berger Singerman LLP is a "disinterested person" as that term is defined by 11 U.S.C. Sec. 101(14), according to court filings. The firm can be reached through: Brian G. Rich, Esq. BERGER SINGERMAN LLP 313 North Monroe Street, Suite 301 Tallahassee, FL 32301 Telephone: (850) 561-3010 Facsimile: (850) 561-3103 About Aduddell Industries and Roofing, LLC Aduddell Industries and Roofing provides commercial roofing, waterproofing and concrete restoration services for customers across the U.S. The company, based in Port St. Lucie, also performs emergency roofing and restoration work following storms and other natural disasters. Aduddell Industries and Roofing, LLC filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Fla. Case No. 26-16706) on May 22, 2026, listing $1 million to $10 million in both assets and liabilities. The petition was signed by Timothy Aduddell as manager. Brian G. Rich, Esq. at BERGER SINGERMAN LLP serves as the Debtor's counsel. AHT TRANSPORT: Seeks Subchapter V Bankruptcy in Kansas ------------------------------------------------------ On June 2, 2026, AHT Transport LLC filed for Chapter 11 protection in the U.S. Bankruptcy Court for the District of Kansas. 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 July 10, 2026 at 01:30 PM at Conf Call by US Trustee. Government proof of claims are due by Nov. 30, 2026; the debtor's Chapter 11 reorganization plan must be filed by Aug. 31, 2026. About AHT Transport LLC AHT Transport LLC is a transportation and logistics company engaged in freight hauling and related trucking services. AHT Transport LLC sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-10613) on June 2, 2026. In its petition, the Debtor reported estimated assets of $1 million to $10 million and estimated liabilities of $1 million to $10 million. The Honorable Bankruptcy Judge Mitchell L. Herren handles the case. The Debtor is represented by January M. Bailey, Esq., of Prelle Eron & Bailey, PA. AITX: Audit Information Delays Hold Up FY2026 Annual Report Filing ------------------------------------------------------------------ Artificial Intelligence Technology Solutions Inc. has filed a Form 12b-25 with the U.S. Securities and Exchange Commission notifying the Commission of a delay in filing its Annual Report on Form 10-K for the fiscal year ended February 28, 2026. The Company stated that the 10-K could not be filed within the prescribed time period without unreasonable effort or expense due to delays in acquiring the information required for the audit. The Company anticipates that it will require no more than the additional 15 days allowed to complete and file the Form 10-K. The Company confirmed that all other periodic reports required during the preceding 12 months have been filed and does not anticipate any significant change in results of operations from the corresponding period of the prior fiscal year. About Artificial Intelligence Technology Headquartered in Ferndale, Mich., Artificial Intelligence Technology Solutions Inc. (AITX) provides artificial intelligence-based solutions that empower organizations to gain new insight, solve complex challenges, and fuel new business ideas. Through its next-generation robotic product offerings, AITX's RAD, RAD-R, RAD-M, and RAD-G companies help organizations streamline operations, increase ROI, and strengthen business. AITX technology improves the simplicity and economics of patrolling and guard services, allowing experienced personnel to focus on more strategic tasks. Customers augment the capabilities of existing staff and gain higher levels of situational awareness, all at drastically reduced costs. AITX solutions are well-suited for use in multiple industries such as enterprises, government, transportation, critical infrastructure, education, and healthcare. Deer Park, Ill.-based L J Soldinger Associates, LLC, the Company's auditor since 2019, issued a "going concern" qualification in its report dated May 29, 2025, attached to the Company's Annual Report on Form 10-K for the fiscal year ended February 28, 2025, citing that the Company had negative cash flow from operating activities of approximately $12.2 million, an accumulated deficit of approximately $156.5 million and negative working capital of approximately $2.5 million as of and for the year ended February 28, 2025, which raises substantial doubt about its ability to continue as a going concern. As of November 30, 2025, the Company had $9.63 million in total assets, $58.33 million in total liabilities, and a total stockholders' deficit of $49.58 million. AM LOGISTICS: H. Faith Welch Named Subchapter V Trustee ------------------------------------------------------- The Acting U.S. Trustee for Region 10 appointed H. Faith Welch as Subchapter V trustee for AM Logistics, Inc. Ms. Welch will be paid an hourly fee of $325 for her services as Subchapter V trustee, and will be reimbursed for work-related expenses incurred. Ms. Welch declared that she is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: H. Faith Welch 444 E. Main St. Fort Wayne, IN 46802 Telephone: (260) 399-1578 Email: fwelch@hallercolvin.com About AM Logistics Inc. AM Logistics, Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Ind. Case No. 26-03372) on May 27, 2026, with $100,001 to $500,000 in assets and $500,001 to $1 million in liabilities. Judge Jeffrey J. Graham presides over the case. KC Cohen, Esq. at Kc Cohen, Lawyer, PC represents the Debtor as legal counsel. AMBIPAR EMERGENCY: Taps Verita Global as Claims and Noticing Agent ------------------------------------------------------------------ Ambipar Emergency Response seeks approval from the U.S. Bankruptcy Court for the Southern District of Texas to hire Kurtzman Carson Consultants, LLC, doing business as Verita Global, as claims and noticing agent. Verita Global 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. Before the petition date, the Debtor provided Verita a retainer in the amount of $15,000. Evan Gershbein, executive vice president at Verita Global, 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 J. Gershbein Verita Global 222 N. Pacific Coast Highway, 3rd Floor El Segundo, CA 90245 Telephone: (310) 823-9000 Facsimile: (310) 823-9133 Email: egershbein@kccllc.com About Ambipar Emergency Response Ambipar Emergency Response is a global environmental and emergency response firm. Ambipar Emergency Response sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 25-90524) on October 20, 2025. In its petition, the Debtor reports more than $1 billion in assets and $328.2 million in liabilities. Honorable Bankruptcy Judge Alfredo R. Perez handles the case. The Debtor is represented by Jason S. Brookner, Esq. of Gray Reed & Mcgraw LLP. AMERICAN STRATEGIC: Stockholders Re-Elect Two Directors ------------------------------------------------------- Stockholders of American Strategic Investment Co. re-elected two Class III directors and approved two other proposals at the company's June 2 annual meeting, according to a Form 8-K filing with the Securities and Exchange Commission. The meeting had stockholders present in person or by proxy holding 2,212,437 common shares, representing about 82.16% of the shares entitled to vote. Louis P. DiPalma received 1,780,727 votes for and 121,406 votes withheld, while Edward M. Weil Jr. received 1,590,981 votes for and 311,152 votes withheld. Each election had 310,304 broker non-votes. Stockholders also ratified CBIZ CPAs P.C. as independent registered public accounting firm for the year ending Dec. 31, 2026, with 1,976,286 votes for, 199,145 against and 37,006 abstentions. A nonbinding advisory resolution approving named executive officer compensation was adopted with 1,753,132 votes for, 134,001 against, 15,000 abstentions and 310,304 broker non-votes. About American Strategic American Strategic Investment Co. is an externally managed Maryland company that owns commercial real estate within New York City, primarily Manhattan. Its real estate assets consist of office properties and related assets, including retail spaces, amenities and parking garages that do not accompany office space. As of Dec. 31, 2025, the company owned five properties totaling 0.7 million rentable square feet, excluding 1140 Avenue of the Americas, which was in a consensual foreclosure process. The company ended its real estate investment trust election effective Jan. 1, 2023, after authorizing a broader business strategy that may include other asset types. CBIZ CPAs P.C. raised substantial doubt about the company's ability to continue as a going concern in its April 15, 2026, audit report, citing a significant working capital deficiency, significant losses and the need to raise additional funds to meet obligations and sustain operations. American Strategic Investment reported total assets of $445.01 million, total liabilities of $387.94 million and total equity of $57.07 million as of March 31, 2026. AMK PROPERTIES: Seeks to Extend Plan Exclusivity to Sept. 28 ------------------------------------------------------------ AMK Properties, LLC asked the U.S. Bankruptcy Court for the Western District of Texas to extend its exclusivity periods to file a plan of reorganization and obtain acceptance thereof to Sept. 28 and Dec. 1, 2026, respectively. In 2007, AMK Properties, LLC was formed by Amin Abdul Maliek The original members of AMK were Vaseem Maliek, Amina Maliek, and Sophia Makhani. Sophia Makhani is the wife of Amin Mohamed Makhani who was Abul Maliek's brother. AMK was operated by Abdul Maliek until 2016. There are currently disputes pending between the parties in a state court action in Cause Number 2023V-054, District Court, Fayette County, Texas (the "Makhani Litigation"). One dispute between the parties and the driving force behind the AMK bankruptcy filing is the purchase of two truck stops by Makhani Properties, LLC ("Makhani Properties"), which has its own pending bankruptcy in 25-50525 (the "Makhani Bankruptcy"), and is primarily owned and operated by Amin Makhani. The Debtor explains that it has removed the Makhani Litigation to the Bankruptcy Court in the Southern District of Texas in adversary case 26-03073. The Southern District bankruptcy court in case 26-03073 entered an order on May 15, 2026, transferring the case to the Western District of Texas but the case has not yet been assigned a case number for the Western District of Texas, which has hampered the parties' ability to complete written discovery and obtain records from third party financial institutions. The Debtor anticipates that once the case number is issued, written discovery will take 60 to 90 days. AMK is hopeful that once all the relevant financial transactions are determined, the parties will be able to mediate the dispute to resolution. The Debtor claims that exclusivity for the company to file its plan ends on June 30, 2026. For the reasons stated, AMK does not believe it will have sufficient information from the Makhani Litigation to formulate its reorganization plan at this time. Additionally, AMK believes the Makhani truck stops sale will not close until after June 30, 2026; hence, AMK will not know the post sale deficiency, which is an important consideration in formulating AMK's plan. Therefore, Debtor is requesting at least a 90-day extension to the exclusivity and solicitation periods to allow more time for the sale to close and written discovery to complete in the Makhani Litigation. Debtor understands that Makhani Properties will also be seeking a 90-day extension to its exclusivity period. AMK Properties, LLC is represented by: Ronald J. Smeberg, Esq. The Smeberg Law Firm, PLLC 4 Imperial Oaks San Antonio, TX 78248 Tel: (210) 695-6684 Fax: (210) 598-7357 Email: ron@smeberg.com About AMK Properties, LLC AMK Properties, LLC, sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. 26-50554-cag) on March 2, 2026. In the petition signed by Vaseem Maliek, managing member, the Debtor disclosed up to $50 million in both assets and liabilities. Judge Craig A. Gargotta oversees the case. Ronald Smeberg, Esq., at The Smeberg Law Firm, is the Debtor's legal counsel. ARAGORN PARENT: Moody's Rates New Sr. Secured First Lien Debt 'B2' ------------------------------------------------------------------ Moody's Ratings assigned B2 ratings to Aragorn Parent Corporation's (dba OverDrive) proposed backed senior secured first lien credit facilities consisting of $70 million revolving credit facility due September 2030 and $725 million term loan due December 2030. The company's existing ratings including the B2 Corporate Family Rating, B2-PD Probability of Default Rating and stable outlook are not affected. Proceeds from the $725 million senior secured first lien term loan will be used to repay the outstanding $716 million senior secured first lien term loan due December 2028 and pay related transaction fees. The transaction is leverage neutral, but Moody's views the transaction as credit positive as it reduces near term refinancing risks and provides the company with greater financial flexibility to navigate potential market volatility. All ratings are subject to the execution of the transaction as currently proposed and Moody's reviews of final documentation. RATINGS RATIONALE OverDrive's B2 CFR reflects moderate operating scale, narrow product focus, and elevated financial leverage. At the same time, the rating is supported by the company's solid market position in global business-to-business digital content distribution, large customer network, and broad content catalog. Moody's expects revenue to grow in the low to mid-single digits over the next 12-18 months, supported by continued consumer demand in the public library channel and improving trends in the education channel. The education channel, which is dependent on K-12 institutions that rely heavily on government funding and often pre-fund digital content purchases, experienced reduced spending following recent budget cuts. However, performance improved in the most recent quarter, driven primarily by schools reallocating spending toward digital formats, increased platform penetration, and expanded distribution. Moody's adjusted EBITDA margin is projected to expand modestly to the low-20% range, reflecting improved operating leverage from higher revenue and favorable shift in sales mix. As a result, Moody's expects Moody's adjusted debt to EBITDA to improve to 5.0x in 2026 from 5.2x as of LTM March 2026. Adding back amortization of product development costs and deducting cash paid on product development costs, adjusted debt to cash EBITDA is expected to decline to 5.4x from 5.6x over the same period. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS The ratings could be upgraded if OverDrive is able to diversify its client segments to mitigate the significant reliance on the public library end market and deliver consistent revenue and EBITDA growth resulting in Moody's adjusted debt to cash EBITDA sustained below 4.0x and free cash flow to debt above 10%. Also, the company would need to maintain a good liquidity position and exhibit prudent financial policies. The ratings could be downgraded if the company fails to achieve expected revenue and EBITDA growth such that debt to cash EBITDA is sustained above 6.0x. Any additional debt-funded acquisitions or dividend recapitalization that could delay deleveraging or deteriorate liquidity could also pressure the ratings. OverDrive is a digital content distribution platform primarily used by public libraries, schools and corporations. The platform enables customers to provide ebooks, audiobooks, streaming video, magazines and other digital content to their patrons, students and employees through the company's applications, which include Libby, Sora, Kanopy and TeachingBooks. Revenue was $648 million for the last twelve months ending March 2026. The company is majority-owned by affiliates of Kohlberg Kravis Roberts & Co LP (KKR). The principal methodology used in these ratings was Business and Consumer Services published in February 2026. ARTETA LLC: Seeks to Tap Bronson Law Offices as Bankruptcy Counsel ------------------------------------------------------------------ Arteta, LLC seeks approval from the U.S. Bankruptcy Court for the Southern District of New York to employ Bronson Law Offices P.C. to handle its Chapter 11 case. The firm will render these services: (a) assist in the administration of this Chapter 11 proceeding; (b) prepare or review operating reports; (c) set a bar date; (d) file a motion for financing; (e) review claims and resolve claims which should be disallowed; (f) defend lift stay motions; (g) assist in drafting a plan of reorganization including all exhibits and schedules thereto, and confirming a Chapter 11 plan; and (h) all other services necessary to confirm a plan in bankruptcy or defend the bankruptcy. The firm will be paid at these rates: H. Bruce Bronson, Esq., Attorney $605 per hour Of Counsel Attorneys $375 to $550 per hour Paralegal $150 to $295 per hour Mr. Bronson disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: H. Bruce Bronson, Esq. Bronson Law Offices, PC 480 Mamaroneck Ave. Harrison, NY 10528 Telephone: (914) 269-2530 Facsimile: (888) 908-6906 Email: hbbronson@bronsonlaw.net About Arteta, LLC Arteta, LLC is a New York-based company engaged in business operations that may include real estate holdings, investment activities, or commercial services. The company focuses on managing its assets and operations within the regional market. Arteta, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-22329) on April 1, 2026. In its petition, the Debtor reports estimated assets of $1MM-$10MM and estimated liabilities of $1MM-$10MM. Honorable Bankruptcy Judge Kyu Young Paek handles the case. The Debtor is represented by H. Bruce Bronson Jr., Esq. of Bronson Law Offices, P.C. ASCENSION TOWING: Hires Sternberg Naccari & White as Attorney ------------------------------------------------------------- Ascension Towing and Recovery, LLC seeks approval from the U.S. Bankruptcy Court for the Middle District of Louisiana to hire Sternberg, Naccari & White, LLC as its attorneys. The firm will provide legal advice with respect to the Debtor's powers and duties as a debtor-in-possession and to perform all legal services for the Debtor which may be necessary. The firm will be paid at its hourly rate of $400, plus reimbursement of ordinary and necessary expenses. The firm received an initial retainer before the petition date of in the aggregate amount of $11,782 from monies owned by the Debtor. Ryan J. Richmond, Esq., a partner at Sternberg, Naccari & White, assured the court that the firm does hold nor represent an interest materially adverse to the Debtor its bankruptcy estate. The firm can be reached through: Ryan J. Richmond, Esq. Sternberg, Naccari & White, LLC 450 Laurel Street, Suite 1450 Baton Rouge, LA 70801 Tel: (225) 412-3667 Fax: (225) 286-3046 Email: ryan@snw.law About Ascension Towing and Recovery, LLC Ascension Towing and Recovery provides towing, vehicle recovery and roadside-support services in Saint Amant, Louisiana. The company offers light-, medium- and heavy- duty towing, flatbed towing, winch and recovery services, boat and RV towing, motorcycle towing, impound service and related heavy-duty breakdown assistance for motorists, vehicle owners and commercial operators in St. Amant and surrounding areas. Ascension Towing and Recovery, LLC filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. M.D. La. Case No. 26-10439) on May 19, 2026, listing $610,500 in assets and $1,035,055 in liabilities. The petition was signed by Frank A. Credidio as manager. Ryan J. Richmond, Esq. at STERNBERG, NACCARI & WHITE, LLC serves as the Debtor's counsel. ASHFORD HOSPITALITY: Sells Sheraton Indianapolis Hotel for $32.1MM ------------------------------------------------------------------ Ashford Hospitality Trust, Inc. announced in a regulatory filing that New Indianapolis Downtown Hotel Limited Partnership, an indirect wholly owned subsidiary of the Company, completed the sale of the Sheraton Indianapolis City Centre Hotel located in Indianapolis, Indiana pursuant to an Agreement of Purchase and Sale, as of December 5, 2025, as amended, by and between New Indianapolis Downtown Hotel Limited Partnership, and Ashford TRS Lessee II LLC as seller, and Keystone Realty Group LLC, as purchaser, for a gross purchase price of approximately $32.1 million in cash, subject to purchaser credits of approximately $15.2 million, customary pro-rations and adjustments. About Ashford Hospitality Ashford Hospitality Trust is a real estate investment trust (REIT) focused on investing predominantly in upper upscale, full-service hotels. Dallas, Texas-based BDO USA, P.C., the Company's auditor since 2015, issued a "going concern" qualification in its report dated March 20, 2026, attached to the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2025, citing that the Company has final debt maturities within one year from the date the financial statements are issued, which raise substantial doubt about its ability to continue as a going concern. As of March 31, 2026, Ashford had $2.6 billion in total assets, $3 billion in total liabilities, and a total stockholders' deficit of $695.2 million. As of March 31, 2026, the Company had total indebtedness of $2.4 billion included $2.2 billion of variable-rate debt. ATEG ENTERPRISES: Seeks to Hire American Real Estate as Broker -------------------------------------------------------------- Ateg Enterprises, Inc. seeks approval from the U.S. Bankruptcy Court for the Western District of Texas to hire American Real Estate as its real estate broker. The firm will assist with the marketing and sale of the Debtor's two pieces of real estate property located at 12615 Judson Road, San Antonio, TX 78233. American Real Estate shall be compensated in the form of a 6% commission of the sales price. American Real Estate is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code, according to court filings. The firm can be reached through: Jeffrey Paredeaz American Real Estate 27617 Lodgepole Pine Boerne, TX 78015 Mobile: (210) 789-8558 Email: jeffparedez@yahoo.com About Ateg Enterprises Inc. Ateg Enterprises, Inc. filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. W.D. Texas Case No. 25-52669) on November 3, 2025, with up to $50,000 in assets and $500,001 to $1 million in liabilities. Judge Michael M. Parker presides over the case. Robert Chamless Lane, Esq., at The Lane Law Firm PLLC represents the Debtor as bankruptcy counsel. AVALON DERM: Hires Wexler Healthcare as Real Estate Advisor ----------------------------------------------------------- Avalon Derm Realty, LLC seeks approval from the U.S. Bankruptcy Court for the Eastern District of New York to employ Wexler Healthcare & Commercial Properties, a team with NRT New York, LLC d/b/a The Corcoran Group as real estate advisor. The firm will assist in the marketing and sale of the Debtor's property known as 55 Greene Avenue, Units @D/2E, which functions as a medical office. Wexler will be paid a commission equal to 6% of the gross purchase price. Wexler is a "disinterested person" within the meaning of 11 U.S.C. Sec. 101(14), according to court filings. The firm can be reached through: Paul Wexler Wexler Healthcare & Commercial Properties at The Corcoran Group 590 Madison Ave Floor 8 New York, NY 10022 Telephone: (212) 836-1075 Facsimile: (212) 418-4344 About Avalon Derm Realty Avalon Derm Realty LLC, based in Brooklyn, New York, is a real estate holding company that owns commercial condominium units at 55 Greene Avenue, Suites 2D and 2E, leased to Jackson Dermatology PLLC for medical office use. Avalon Derm Realty LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.Y. Case No. 26-41012) on March 3, 2026, listing $2,002,073 in total assets and $2,533,271 in total liabilities. Elizabeth S. Stong oversees the case. The Law Offices of Rachel L. Kaylie, PC represents the Debtor as counsel. AVEANNA HEALTHCARE: S&P Upgrades ICR to 'B', Outlook Stable ----------------------------------------------------------- S&P Global Ratings raised its issuer credit rating on Aveanna Healthcare LLC to 'B' from 'B-'. At the same time, S&P raised its issue-level rating on the company's senior secured debt to 'B' from 'B-'. The '3' recovery rating is unchanged, indicating its expectation for meaningful (50%-70%; rounded estimate: 50%) recovery for lenders in the event of a payment default. The stable outlook reflects S&P's expectation that Aveanna will continue to benefit from its preferred payor contracts and healthy demand for at-home care services, enabling it to increase its revenue by the 8%-9% range and generate FOCF to debt of more than 10% over the next 12 months. The upgrade reflects Aveanna's improved operating performance, driven by its preferred payor strategy and reimbursement rate increases. The company increased its revenue by over 20% for the 12 months ended in the first quarter of 2026 due to increased service volumes stemming from its preferred payor strategy resulting in payor rate improvements. Aveanna's revenue growth was also bolstered by its acquisition of Thrive (completed in 2025). Going forward, we expect the company's preferred payor strategy, along with its recent acquisitions, will support rising volumes while state reimbursement rate increases lead to modest rate growth, albeit at a slower pace due to headwinds from greater scrutiny of Medicaid expenses under the current administration. Furthermore, we expect Aveanna's recent acquisition of Family First will enhance the volumes in its Private Duty Services (PDS) segment while also strengthening its position in Florida. S&P also believes the fragmented nature of the company's industry provides it with a greater opportunity to expand through acquisitions. Therefore, we expect Aveanna will increase its total revenue by about 8%-10% in 2026 and 2027 on strong volumes, a continued improvement in payor rates, and strategic acquisitions. S&P said, "We expect Aveanna will maintain steady profitability over the next 12-18 months. The company's S&P Global Ratings-adjusted EBITDA margin improved to 12.9% in 2025, which compares with 9.4% in 2024, due to better preferred payor rates and one-time inflows from higher reimbursement levels in the first quarter. We expect Aveanna will continue to focus on managing its EBITDA margin due to the potential for fewer rate increases by states and the possibility that the Centers for Medicare & Medicaid Services (CMS) will cut its budget allocation for the home health industry. However, our belief that the company's increased focus on preferred payors will continue to benefit its payor rates and volumes, as well as improve its caregiver retention, partially offsets this risk. We also believe management will somewhat offset its margin pressures through operational efficiencies stemming from its automation and AI efforts in its administrative functions. Therefore, we expect the company will maintain an S&P Global Ratings-adjusted EBITDA margin in the 13%-14% range in 2026 and 2027. "We expect Aveanna will generate FOCF to debt of about 10% and maintain leverage below 5x in 2026 and beyond. The company improved its FOCF to debt to about 8.7% in 2025 on its improved profitability and enhanced efforts in collecting previously reserved accounts receivable, which were made possible by its investments in AI and automation in its revenue cycle management department. While Aveanna's cash flows in the first quarter of 2026 were lower than the previous quarter due to seasonality, we believe it will continue to benefit from its operational improvements, resulting in FOCF to debt of more than 10% in 2026 and about 13% in 2027. Furthermore, we expect the company's improved EBITDA and FOCF generation will enable it to reduce its adjusted debt leverage to 4.4x in 2026 and below 4.0x in 2027. "The stable outlook reflects our expectation that Aveanna will continue to benefit from its preferred payor contracts and healthy demand for at-home care services, enabling it to increase its revenue by the 8%-9% range and generate FOCF to debt of more than 10% over the next 12 months." S&P could lower its rating on Aveanna if: -- Its revenue is materially lower than S&P assumes under its base-case scenario such that S&P believes it will be unable to generate FOCF to debt of above 3%; -- The company is unable to efficiently integrate its acquisitions; or -- Management uses debt to fund shareholder-friendly initiatives, including dividends or stock buybacks. Although unlikely over the next 12 months, S&P could raise its rating on Aveanna if S&P believes it will sustain: -- S&P Global Ratings-adjusted debt to EBITDA of below 4x; -- S&P Global Ratings-adjusted FOCF to debt of above 10%; and -- S&P believes the company is committed to maintaining financial policies that will support this improved level of leverage, after incorporating potential acquisitions and shareholder returns, and S&P views the risk of a future re-leveraging event as low. B&G FOODS: Moody's Rates New Unsecured Notes 'Caa2' --------------------------------------------------- Moody's Ratings assigned a Caa2 rating to the proposed senior unsecured notes to be issued by B&G Foods, Inc. ("B&G"). Moody's also affirmed B&G's B3 Corporate Family Rating, B3-PD Probability of Default Rating, B2 ratings on its existing secured notes and senior secured first lien debt (including the revolving credit facility and term loan), and Caa2 rating on its existing senior unsecured notes. The speculative-grade liquidity rating remains unchanged at SGL-3. The outlook remains negative. B&G is proposing to issue $475 million of senior unsecured notes due 2031, together with revolver borrowings and cash on hand, to refinance all $509.3 million of its 5.25% senior unsecured notes due September 2027. While the refinancing is expected to increase annual interest expense by more than $25 million, this will largely be offset by the company's recently announced 50% dividend reduction, which will lower annual cash outflows by approximately $30 million. Moody's views the refinancing transaction as credit positive because it extends a substantial portion of near term maturities and improves liquidity. The next meaningful maturity wall would then be in 2028. The affirmation of the B3 CFR reflects that debt-to-EBITDA leverage remains elevated at around 7x (Moody's adjusted) pro forma for recently completed acquisitions and divestitures, including the new co-manufacturing agreement for US Green Giant frozen, only improving to the high-6x range (Moody's adjusted) following the pending Green Giant Canada divestiture. While the top line has contracted as businesses have been sold, organic sales trends have improved over the past year, supported by positive momentum in private label and foodservice channels, particularly within the Spices and Flavor Solutions segment. Operating performance remains softer in the Meals and Specialty segments. The company expects organic sales to be flat to slightly down for the remainder of the year (including the impact of lapping an extra week in the prior year), representing an improvement from the low single-digit sales declines experienced in recent years. Operating profits have also declined as businesses have been trimmed. Moody's projects leverage will remain in the high-6x range (Moody's-adjusted) over the next 12-18 months, reflecting ongoing headwinds in center-of-store packaged food categories and inflation, partly offset by growth in more on-trend categories such as spices and seasonings, as well as pricing actions and cost savings initiatives. Moody's projections also incorporates expected free cash flow (after dividends) of more than $30 million annually in 2026 and 2027, which is sufficient to cover approximately $4.5 million of annual term loan amortization but would have been breakeven in the year ahead without the dividend cut. Moody's expects excess free cash flow to be used to reduce revolver borrowings but the pace of deleveraging will be slow absent further asset sales or dividend reduction. B&G's multi-year portfolio transformation is largely complete. The company has exited lower margin, working capital intensive businesses, including most of its frozen and shelf-stable vegetable operations, generating more than $150 million of sale proceeds across recent transactions. The pending sale of Green Giant Canada, expected to close in 2Q26 or 3Q26 represents a meaningful divestiture and would have minimal EBITDA impact. Asset sale proceeds have primarily been used to repay debt, which Moody's estimates will have reduced leverage by roughly half a turn (including the pending Green Giant Canada divestiture) and result in a more focused portfolio with improved margin potential and lower earnings volatility. While the company acquired the College Inn and Kitchen Basics businesses in March 2026 for $110 million, the transaction was modestly deleveraging given its low purchase multiple, although it utilized a portion of existing liquidity. B&G's SGL-3 speculative-grade liquidity rating reflects Moody's expectations that the company will maintain adequate liquidity over the next 12 months. Liquidity is supported by approximately $65 million of cash as of April 04, 2026, and access to its $430 million revolving credit facility due December 2028, with approximately $140 million of availability (net of $270 million drawn and $20 million of letters of credit outstanding). As of April 04, 2026, after giving effect to the offering and the use of proceeds therefrom (including borrowings under the revolving credit facility and the redemption of the 2027 notes), B&G's availability under the revolving credit facility would have been approximately $125 million (net of $285 million drawn and $20 million of letters of credit outstanding). As of April 04, 2026, the company had adequate cushion under the financial maintenance covenants in its revolving credit facility, including the 1.75x minimum interest coverage and 7.50x maximum net leverage covenants. The leverage covenant steps down to 7.25x for the test period ending December 31, 2026, and to 7.00x thereafter. Moody's expects cushion under the interest coverage covenant to tighten following the proposed refinancing, with potential for pressure on compliance if earnings weaken materially. The term loan does not contain financial maintenance covenants. RATINGS RATIONALE B&G's B3 CFR reflects the company's high financial leverage and relatively aggressive financial policies. While the company recently reduced its dividend for a second time, the remaining approximately $30 million annual dividend continues to limit its ability to reduce debt through internally generated cash flow. The rating also reflects B&G's relatively small scale compared to higher rated peers, its acquisitive growth strategy, and earnings vulnerability to inflationary pressures and volume softness. The company has a net debt-to-EBITDA leverage target of 4.5x to 5.5x (based on the company's definition; 6.1x as of April 04, 2026), which provides some discipline around capital allocation. The company has demonstrated commitment to reducing leverage, using proceeds from asset sales, equity issuances, and free cash flow to pay down debt in recent years. However, volume and inflationary headwinds have moderated the pace of deleveraging and higher interest costs will be a further headwind. B&G's credit profile benefits from a diversified food product portfolio with relatively low cyclical demand volatility, although US consumers are spending cautiously and packaged food has seen volumes pressured. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS The negative outlook reflects ongoing risks to earnings and to deleveraging plans in a still challenging operating environment. While the company has the ability to implement pricing actions, sustained cost inflation could pressure volumes and margins. Nonetheless, Moody's expects the company to generate positive free cash flow (after dividends) and maintain adequate liquidity over the next 12 months. A rating upgrade could occur if B&G is able to strengthen operating performance, including sustained organic revenue growth, higher profitability, and improved liquidity, highlighted by increased covenant headroom and a successful refinancing of its upcoming maturities that would allow for consistent and comfortably positive free cash flow. B&G would also need to sustain debt-to-EBITDA below 6.5x. A rating downgrade could occur if cost increases, pricing pressure or volume declines weaken earnings, liquidity or free cash flow deteriorate, refinancing risk increases, or the financial policy becomes more aggressive. The rating could also be downgraded if EBITDA less capital spending-to-interest remains less than 1.5x. PRINCIPAL METHODOLOGY The principal methodology used in these ratings was Consumer Packaged Goods published in February 2026. The net effect of any adjustments applied to rating factor scores or scorecard outputs under the primary methodology(ies), if any, was not material to the ratings addressed in this announcement. COMPANY PROFILE B&G Foods, Inc. ("B&G", NYSE: BGS) based in Parsippany, New Jersey, is a publicly traded manufacturer and distributor of a diverse portfolio of largely branded, shelf-stable food products, many of which have leading regional or national market shares in niche categories. The company's brands include Crisco, Ortega, Clabber Girl, Maple Grove Farms of Vermont, Cream of Wheat, Dash, Victoria, College Inn, Kitchen Basics, and B&G, among others. B&G also operates the Green Giant and Le Sieur frozen and shelf-stable product lines in Canada ("Green Giant Canada"). On October 24, 2025, the company signed an agreement to sell the Green Giant Canada business to Norterra Foods Inc. for a purchase price equal to the inventory value (as defined in the sale agreement) of the inventory transferred at closing plus $5.0 million, subject to regulatory approval in Canada. Had the purchase price been determined at September 27, 2025, the purchase price would have been approximately $60.0 million. The company sells to a diversified customer base, including grocery stores, mass merchants, warehouse clubs, dollar stores, drug stores, the military, and other foodservice outlets. For the 12 months ended April 04, 2026, B&G generated approximately $1.8 billion in net sales. BEELINE HOLDINGS: Director Finnsson to Resign Effective June 30 --------------------------------------------------------------- Beeline Holdings, Inc. announced in a regulatory filing that Eric Finnsson, a member of the Board of Directors, notified the Company of his decision to resign from the Board, effective June 30, 2026. Mr. Finnsson's resignation did not result from any disagreement with the Company on any matter relating to the Company's operations, policies or practices. Prior to Mr. Finnsson's resignation, the Company had six directors. Mr. Finnsson was a member of the Eastside Board of Directors prior to the October 2024 merger, and the Company believed it was important to maintain an additional director position to facilitate the integration process. Following Mr. Finnsson's resignation, the Board now consists of five directors. About Beeline Holdings Beeline is a technology-forward mortgage and fintech platform focused on AI-powered lending, title services, blockchain-enabled financial infrastructure, and digital real estate solutions. The Company is developing next-generation mortgage and home equity products designed to modernize the residential finance market. Boca Raton, Florida-based Salberg & Company, P.A., the Company's auditor since 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 recurring losses and negative cash flows from operations since its inception, has a significant working capital deficit, and is dependent on debt and equity financing. These matters raise substantial doubt about the Company's ability to continue as a going concern. As of December 31, 2025, the Company had $70.2 million in total assets, $16.6 million in total liabilities, and $53.6 million in total equity. BEELINE HOLDINGS: LOI to Acquire Remaining Interest in MagicBlocks ------------------------------------------------------------------ Beeline Holdings, Inc. announced that it has entered into a non-binding Letter of Intent to acquire MagicBlocks, an AI-driven real estate technology company focused on transaction lead generation, production automation, and workflow systems for financial services and real estate applications. Beeline currently owns approximately 47.6% of MagicBlocks, and the MagicBlocks platform has enabled Beeline's chatbot, Bob, which has facilitated an 8% increase in lead to lock conversions at no incremental cost when involved with customers on Beeline's website. Beeline has entered into a non-binding Letter of Intent with MagicBlocks' key principals to acquire the remaining interest in the company. The transaction is subject to execution of a definitive agreement, final approvals by a special committee of Beeline's board of directors, and SAFE noteholders and employment agreements for the founders. The acquisition is expected to materially expand Beeline's artificial intelligence capabilities and further support the Company's blockchain and digital asset initiatives. Beeline intends to leverage MagicBlocks' proprietary AI technology to drive lead generation for BeelineEquity, its tokenized home equity product in partnership with TYTL, while also supporting underwriting, transaction automation, and scalable production infrastructure across Beeline's broader fintech platform. MagicBlocks has developed proprietary systems designed to automate and improve key components of the real estate transaction process, including AI-enhanced workflow management and scalable infrastructure built specifically for mortgage, financial services, and real estate applications. Beeline plans to further integrate MagicBlocks' technology stack into its ecosystem of mortgage origination, title services, blockchain settlement capabilities, and tokenized home equity products. The Company believes the acquisition can help accelerate transaction volume, reduce production costs, lower customer acquisition costs, and create new software-as-a-service revenue opportunities for Beeline. "MagicBlocks represents a major strategic step forward for Beeline, further differentiating our digital-first approach," said Nick Liuzza, Chief Executive Officer of Beeline. "The future of mortgage banking and real estate finance will be driven by AI, blockchain infrastructure, and tokenization. This acquisition positions Beeline at the center of that evolution while strengthening our ability to deliver faster, more transparent, and more scalable financial products, creating a better experience for customers." The transaction is expected to enhance Beeline's initiatives across digital mortgage automation, AI-assisted lending operations, blockchain settlement systems, tokenized real estate marketplaces, and blockchain-native financial products. The Company also believes the acquisition will support the continued development of Beeline's broader fintech ecosystem as it works to modernize how consumers access mortgage capital, real estate liquidity, and digital home equity solutions. "We believe combining MagicBlocks' infrastructure with Beeline's lending platform creates a unique opportunity to redefine how consumers access mortgage capital and real estate liquidity," added Liuzza. Under the terms of the proposed transaction, MagicBlocks would become a wholly owned subsidiary of Beeline. Existing leadership and development personnel from MagicBlocks are expected to join Beeline and continue advancing the platform's technology roadmap. The transaction, if consummated, is expected to close this month, subject to negotiation and execution of a definitive agreement. The proposed acquisition is expected to be supported by a third-party valuation of approximately $1 million. The acquisition is contemplated to be structured as an all-stock transaction. About MagicBlocks MagicBlocks develops blockchain infrastructure, AI automation systems, and smart contract technologies focused on real estate, financial services, and digital asset applications. About Beeline Holdings Beeline is a technology-forward mortgage and fintech platform focused on AI-powered lending, title services, blockchain-enabled financial infrastructure, and digital real estate solutions. The Company is developing next-generation mortgage and home equity products designed to modernize the residential finance market. Boca Raton, Florida-based Salberg & Company, P.A., the Company's auditor since 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 recurring losses and negative cash flows from operations since its inception, has a significant working capital deficit, and is dependent on debt and equity financing. These matters raise substantial doubt about the Company's ability to continue as a going concern. As of December 31, 2025, the Company had $70.2 million in total assets, $16.6 million in total liabilities, and $53.6 million in total equity. BETHLEHEM-CENTER SCHOOL: Moody's Ups Issuer & GOLT Ratings to Ba3 ----------------------------------------------------------------- Moody's Ratings has upgraded Bethlehem-Center School District, PA's issuer and general obligation limited tax (GOLT) ratings to Ba3 from B2. The district has about $11.2 million of debt outstanding. The upgrade recognizes the district's improved financial position that has been the result of annual property tax increases, growth in state source revenue, and ongoing cost containment. Moody's expects this trend to continue in fiscal 2026. However, the district's minimal reserves and deferred capital needs elevates its exposure to event risk. RATINGS RATIONALE The Ba3 issuer rating reflects the district's stable but limited local economy and manageable leverage, balanced against its minimal reserves and liquidity. Available fund balance was a modest 1% of revenue in fiscal 2025, marking the first positive balance since fiscal 2017. Governance is a key driver of the rating, as prudent budget management in recent years has strengthened reserves and liquidity. In addition to raising property taxes to the max allowable rate every year since 2020, the district implemented cost-saving measures, including building consolidation and staffing adjustments through attrition. The district also applied for and received various state grants. Moody's expects finances will improve again in 2026, with preliminary estimates indicating fund balance will grow to roughly 3.6% of revenue. The district's rural economy and tax base are generally stable, with no new development reported by management. Meaningful enrollment growth is unlikely given population and demographic trends. Resident income is slightly below average at 94% of the US level, and full value per capita is a limited $51,100. Leverage and fixed costs are currently affordable, and there are no reported plans for additional borrowing. That said, there are ongoing capital needs at district facilities which include two small sewage treatment plants. The lack of distinction between the district's issuer rating and the Ba3 rating on the district's GOLT debt is based on the district's general obligation full faith and credit pledge. RATING OUTLOOK Moody's do not assign outlooks to local governments with this amount of debt outstanding. FACTORS THAT COULD LEAD TO AN UPGRADE OF THE RATINGS -Available fund balance ratio approaching 5% of revenue -- Moderation of enrollment losses -- Significant economic growth and diversification FACTORS THAT COULD LEAD TO A DOWNGRADE OF THE RATINGS -- Return to structurally imbalanced operations -- Increase in long-term liabilities ratio above 250% of revenue -- Deterioration in the local economy PROFILE Bethlehem-Center School District is located in Washington County, about 32 miles south of Pittsburgh. District enrollment is approximately 914 students as of the 2025-2026 school year. METHODOLOGY The principal methodology used in these ratings was US K-12 Public School Districts published in December 2025. BETTERWORK MEDIA: Gets Interim OK to Use Cash Collateral -------------------------------------------------------- Betterwork Media Group, LLC received interim approval from the U.S. Bankruptcy Court for the Northern District of Illinois, Eastern Division, to use cash collateral to fund operations. Under the interim order, the Debtor is authorized to use cash collateral to pay budgeted expenses pending a final hearing. The Debtor may exceed individual budget line items by up to 15%, provided sufficient cash collateral is available. The Debtor's main secured creditors are OnDeck Capital and HCMA, Inc., whose claims total approximately $161,227 and $291,623, respectively, but will be resolved for reduced amounts. Both lenders hold liens on the Debtor's accounts receivable and substantially all assets, including an interest in the cash collateral at issue. As adequate protection, the lenders will be granted replacement liens on the Debtor's assets to protect against any decline in the value of their collateral. These replacement liens apply to assets in which the lenders held pre-petition security interests and remain subject to senior liens approved by the court and fee carveouts. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/6LTTR from PacerMonitor.com. The court scheduled a final hearing for June 23. Betterwork Media Group operates media brands serving executive-level learning and talent management communities, generating revenue through content, events, webinars, research, and digital media. It is currently experiencing cash flow constraints, operating losses, and creditor pressure, which prompted the bankruptcy filing. About Betterwork Media Group LLC Betterwork Media Group LLC, based in Chicago, Illinois, operates a media platform serving corporate learning and talent-management professionals. Founded in 2021, Betterwork Media Group manages Chief Learning Officer and Chief Talent Officer, producing editorial content, research, events, webinars, digital media and awards programs. It also provides advertising and event-related services for C-suite executives, senior practitioners, scholars, consultants, solutions providers and organizations seeking to reach workforce learning and human-capital management audiences. Betterwork Media Group sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 26-08411) on May 14, 2026. In the petition signed by Lauren Lynch, authorized representative, the Debtor disclosed $33,976 in assets and $1,028,970 in liabilities. Judge Deborah L Thorne oversees the case. Jeffrey C. Dan, Esq., at Goldstein & McClintock, LLLP, represents the Debtor as legal counsel. BITTREX INC: SEC Challenges Request to Vacate Crypto Judgment ------------------------------------------------------------- Angelica Serrano-Roman of Bloomberg Law reports that the SEC has filed an objection to the Bittrex bankruptcy estate administrator's attempt to set aside a judgment entered in a crypto enforcement case that the regulator accepted nearly three years ago, intensifying a legal fight over digital asset regulation. In its Wednesday, June 3, 2026, submission to the Western District of Washington federal court, the agency said the administrator overseeing the exchange's Chapter 11 case did not establish any significant change in circumstances that would make the existing judgment unjust or inequitable, the report relays. According to the SEC, injunctions tied to violations of federal securities laws continue to be lawful and enforceable, even in the context of bankruptcy proceedings. The regulator also rejected claims that maintaining the judgment creates undue hardship. The case highlights continuing tensions between bankruptcy administration and federal enforcement actions involving cryptocurrency platforms. About Bittrex Inc. Bittrex is a regulated digital assets exchange platform. Desolation Holdings and three of its affiliates filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code (Bankr. D. Del., Lead Case No. 23-10597) on May 8, 2023. Desolation Holdings' debtor affiliates are Bittrex, Inc., Bittrex Malta Holdings Ltd. and Bittrex Malta Ltd. At the time of filing, the Debtors estimated consolidated assets of $500 million to $1 billion in assets and $500 million to $1 billion in liabilities. The Hon. Brendan Linehan Shannon presides over the cases. Quinn Emanuel Urquhart & Sullivan, LLP, led by partner Patricia B. Tomasco, is the Debtors' counsel. Berkeley Research Group, LLC, is the Debtors' restructuring advisor. Omni Agent Solutions is the claims agent. * * * The Bankruptcy Court confirmed the Debtors' Amended Joint Chapter 11 Plan of Liquidation on Oct. 31, 2023. The Plan was declared effective Nov. 15, 2023. BOUND LOGISTICS: Seeks to Tap Vestcorp LLC as Financial Consultant ------------------------------------------------------------------ Bound Logistics, LLC seeks approval from the U.S. Bankruptcy Court for the District of New Jersey to employ Vestcorp LLC as financial consultant. The firm will provide valuation of Debtor's membership interest in businesses and aid with preparing business cash flow projections. The firm will be paid at these hourly rates: Irv Schwarzbaum $495 Staff $165 to $375 The firm received an initial retainer in the amount of $7,500. Irv Schwarzbaum, CPA, a managing director at Vestcorp, 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: Irv Schwarzbaum, CPA Vestcorp, LLC 623 Eagle Rock Avenue, Suite 364 West Orange, NJ 07052 Telephone: (973) 787-0123 Email: ischwarzbaum@vestcorp.net About Bound Logistics Bound Logistics, LLC operates as an asset-based trucking and logistics company in Union, New Jersey, providing intermodal drayage and container transportation services between port terminals and inland destinations, primarily serving the New York and New Jersey port region. Bound Logistics sought relief under Chapter 11 of the U.S. Bankruptcy Coode (Bankr. D.N.J. Case No. 26-14399) on April 22, 2026. In its petition, the Debtor reported estimated assets between $1 million to $10 million and estimated liabilities between $1 million to $10 million. The petition was signed by Nathan Halberstam as authorized representative of the Debtor. Judge Mark Edward Hall oversees the case. The Debtor is represented by Scura Wigfield, Hyer, Stevens & Cammarota LLP. BOWLING GREEN: Seeks Chapter 7 Bankruptcy in Kentucky ----------------------------------------------------- On June 4, 2026, Bowling Green Carriers, LLC filed for Chapter 7 protection in the U.S. Bankruptcy Court for the Western District of Kentucky. According to court filings, the Debtor reports between $100,001 and $1 million in debt owed to between 1 and 49 creditors. About Bowling Green Carriers, LLC Bowling Green Carriers, LLC is a transportation and freight carrier engaged in commercial trucking and logistics services. Bowling Green Carriers, LLC sought relief under Chapter 7 of the U.S. Bankruptcy Code (Bankr. Case No. 26-10525) on June 4, 2026. In its petition, the Debtor reports estimated assets of $0 to $100,000 and estimated liabilities of $100,001 to $1 million. BRAND ENGAGEMENT: Buys $1 Million Stake in Accelevate ----------------------------------------------------- Brand Engagement Network Inc. closed a $1 million investment in HighTide Energy Inc., doing business as Accelevate Solutions, according to a Form 8-K filing with the Securities and Exchange Commission. The company acquired 243,309 Accelevate common shares at $4.11 a share under a securities purchase agreement that closed May 30. Accelevate also issued Brand Engagement a warrant to purchase another 243,309 common shares at $4.11 a share. The warrant is exercisable for one year, and exercising it would result in an additional $1 million investment. Of the aggregate purchase price, $250,101 was paid when the parties signed an April 22 letter agreement and $749,899 was paid by wire transfer on June 3. The filing said the agreement also corrected a prior subscription agreement by confirming the $4.11-a-share purchase price. The investment follows previously disclosed letter agreement and reseller arrangements tied to a strategic investment and commercial collaboration in the commercial fleet sector. About Brand Engagement Brand Engagement Network Inc. is an artificial intelligence company focused on the engagement layer of AI, where human interaction connects directly to enterprise systems, workflows and real-world outcomes. Its technology is powered by a proprietary Engagement Language Model designed for secure, closed-loop environments using organization-approved data and embedded governance and compliance controls. The company provides configurable conversational AI systems with customization, business-system integration and cross-platform deployment. Its initial commercialization efforts have focused on healthcare, with expansion into hospitality, insurance, advertising and media. L J Soldinger Associates LLC included a going concern paragraph in its report dated April 15, 2026, citing an accumulated deficit of about $55.6 million, a 2025 net loss of about $8.6 million and net cash used in operating activities of about $5.1 million, which raised substantial doubt about the company's ability to continue as a going concern. Brand Engagement Network reported total assets of $16.31 million, total liabilities of $9.03 million and total stockholders' equity of $7.28 million as of March 31, 2026. BRANDCASTERS INC: Hires Lake Forest as Reorganization Counsel ------------------------------------------------------------- Brandcasters, Inc. seeks approval from the U.S. Bankruptcy Court for the Central District of California to hire Lake Forest Bankruptcy II, APC as reorganization counsel. The firm will provide these services: a. advise and assist the Debtor with respect to compliance with the requirements of the United States Trustee; b. advise the Debtor regarding matters of bankruptcy law, including the rights and remedies of the Debtor with regard to its assets and liabilities; c. represent the Debtor in any proceedings or hearings before this Court and in any action in any other court where the Debtor's rights under the Bankruptcy Code may be affected; d. conduct examinations of witnesses, claimants, or adverse parties and to prepare and assist in the preparation of reports, accounts, and pleadings related to the Debtor's chapter 11 case; e. advise the Debtor concerning the requirements of the Bankruptcy Code and applicable rules as the same may affect the Debtor in its Chapter 11 case; f. assist the Debtor in the formulation, negotiation, confirmation, and implementation of a Chapter 11 plan of reorganization, liquidation or combination thereof; and g. take such other action and perform such other services as the Debtor may require in connection with their Chapter 11 case. The firm will be paid at $500 per hour. The firm received from the Debtor a retainer of $25,000. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Anerio V. Altman, Esq., a partner at Lake Forest Bankruptcy II, APC, 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: Anerio Ventura Altman, Esq. Lake Forest Bankruptcy P.O. Box 515381 Los Angeles, CA 92610 Tel: (949) 218-2002 Email: avaesq@lakeforestbkoffice.com About Brandcasters Inc. Brandcasters, Inc. operates as a podcast production and marketing company through its platform Podetize.com. Brandcasters sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Cal. Case No. 26-11374) on May 3, 2026, with assets of up to $50,000 and liabilities of up to $10 million. Thomas B. Hazzard, president and chief executive officer of Brandcasters, signed the petition. Judge Mark D. Houle oversees the case. Anerio Ventura Altman, Esq., at Lake Forest Bankruptcy, represents the Debtor as legal counsel. BROADWAY LEARNING: Chris Quinn Named Subchapter V Trustee --------------------------------------------------------- The U.S. Trustee for Region 7 appointed Chris Quinn as Subchapter V trustee for Broadway Learning Center LLC. Mr. Quinn will be paid an hourly fee of $425 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Quinn declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Chris Quinn 26414 Cottage Cypress Lane Cypress, TX 77433 Phone: 713-498-8500 Email: chris.quinn2021@outlook.com About Broadway Learning Center LLC Broadway Learning Center LLC, doing business as Pearland Kids Club, is a preschool and childcare center serving Pearland, Texas. Founded in 2016, the center provides infant care, toddler care, preschool programs, after-school programs, and summer camp programs for children from 6 weeks to 12 years old. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Texas Case No. 26-33621) on May 22, 2026, with $50,000 to $100,000 in assets and $1 million to $10 million in liabilities. Nathan Cole, authorized agent, signed the petition. Judge Jeffrey P. Norman presides over the case. Reese Baker, Esq. at BAKER & ASSOCIATES represents the Debtor as legal counsel. BTWFU & GCFU: Plan Filing Deadline Extended to June 29 ------------------------------------------------------ Judge Jeffrey Norman of the U.S. Bankruptcy Court for the Southern District of Texas extended BTWFU & GCFU, LLC's time to file disclosure statement and plan of reorganization to June 29, 2026. In a court filing, the Debtor claims that the absence of a trustee, examiner, or official committee appointed in this case further supports an extension of exclusivity. The Debtor, as debtor-in-possession, is the proper party to lead plan negotiations and to formulate a reorganization plan. Granting an extension of exclusivity ensures that the Debtor has a fair opportunity to lead this process and to develop a plan that reflects its business judgment and the interests of the estate. The Debtor asserts that it has demonstrated a good faith commitment to the reorganization process. The Debtor filed Chapter 11 to pursue an orderly reorganization, not to delay or to pressure creditors. The improved operations and revenue production since the filing demonstrate that the Debtor's request is motivated by a genuine need for additional time to prepare a responsible plan. The Debtor further asserts that the requested extension is limited in scope and does not foreclose creditor participation or relief. Creditors retain the ability to be heard on the Debtor's progress, to seek relief if the Debtor is not progressing in good faith, and to object to any further extensions if circumstances warrant. The statutory caps ensure that creditors will not be indefinitely deprived of the right to propose a competing plan. BTWFU & GCFU, LLC is represented by: Stephanie D. Curtis, Esq. CURTIS | LAW PC 901 Main Street, Suite 6230 Dallas, TX 75202 Telephone: (214) 752-2222 Facsimile: (214) 752-0709 Email: scurtis@curtislaw.net About BTWFU & GCFU, LLC BTWFU & GCFU, LLC, filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Tex. Case No. 26-30626) on Jan. 30, 2026, listing $1 million to $10 million on both assets and liabilities. The petition was signed by John N. Pollard Jr as managing member of owner and operator. Judge Jeffrey P Norman presides over the case. Stephanie D. Curtis, at Curtis Law PC, serves as the Debtor's counsel. C.D.S. MOVING: Plan Exclusivity Period Extended to June 27 ---------------------------------------------------------- Judge Julia W. Brand of the U.S. Bankruptcy Court for the Central District of California extended C.D.S. Moving Equipment Inc.'s exclusive periods to file a plan of reorganization and obtain acceptance thereof to June 27 and Aug. 26, 2026, respectively. In a court filing, the Debtor explains that the factors outlined in In re New Meatco Provisions, LLC, to the extent they apply, favor extending the Exclusivity Periods: The first factor, the size and complexity of the case, favors extending the Exclusivity Periods. Much of its time so far has been spent: (i) addressing first day motions to continue utility services, allow it to use cash collateral, continue and/or reinstate employee benefits, and transition bank accounts and continue cash management systems; (ii) on necessary operational tasks such as reducing its workforce; (iii) negotiating terms with landlords where Debtor intends to maintain operations; (iv) transitioning from locations that are not optimal to new facilities and the negotiations needed with these existing and new landlords; and (iv) discussions with financiers for debtor-in possession financing and/or exit financing. The second factor, time to negotiate a plan, favors extending the Exclusivity Periods. While the Debtor has been restructuring its operations and securing financing, its ability to develop reliable long-term financial projections carries less certainty than would be required to establish the feasibility of a plan. The Debtor is still in process of executing operational changes, which should conclude by the end of May. The third factor, good faith progress toward reorganization, favors extending the Exclusivity Periods. The Debtor has used its time in chapter 11 to develop and execute on a plan to stabilize operations that are expected to support long-term viability. The fourth factor, paying its bills as they come due, favors extending the Exclusivity Periods. The Debtor has worked with its vendors and service providers to secure the continued provision of goods and services. In some instances, the Debtor has made agreements with landlords for reduced rent with shortfalls to be addressed as administrative claims. The fifth factor, demonstrated prospects for filing a viable plan, favors extending the Exclusivity Periods. The fact that the Debtor has been able to stabilize operations and continues to grow revenue holds promise that a confirmable plan is soon achievable. C.D.S. Moving Equipment Inc. is represented by: Derrick Talerico, Esq. WEINTRAUB, ZOLKIN TALERICO & SELTH LLP 11766 Wilshire Blvd Suite 730 Los Angeles CA 90025 Tel: (424) 500-8552 Email: dtalerico@wztslaw.com About C.D.S. Moving Equipment Inc C.D.S. Moving Equipment Inc. is a California-based company serving the moving, storage, logistics, and packaging industries. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Cal. Case No. 25-21646) on December 29, 2025. In the petition signed by Michael Dennis Barwick, chief executive officer, the Debtor disclosed up to $50,000 in assets and up to $10 million in liabilities. Judge Julia W. Brand oversees the case. Derrick Talerico, Esq., at Weintraub Zolkin Talerico & Selth, LLP, represents the Debtor as legal counsel. Pathward, National Association, as secured creditor, is represented by: Kimberly Ross Clayson, Esq. Taft Stettinius & Hollister LLP 27777 Franklin Road, Suite 2500 Southfield, MI 48034 Telephone: (248) 351-3000 Facsimile: (248) 351-3082 kclayson@taftlaw.com CACERES SPECIALIZED: Case Summary & 13 Unsecured Creditors ---------------------------------------------------------- Lead Debtor: Caceres Specialized Gynecology, LLC 1136 Cypress Glen Circle Kissimmee, FL 34741 Business Description: Caceres Specialized Gynecology is a gynecology practice with locations in Kissimmee and Celebration, Florida. The practice provides gynecology care, preventive screenings, medical management of gynecological conditions, in-office procedures, minimally invasive and robotic surgery, BRCA1/2-related diagnosis and treatment, and aesthetic medical services. Its services include procedures such as IUD placement, colposcopy, diagnostic hysteroscopy, endometrial ablation, hysterectomy, myomectomy, ovarian cyst removal, endometriosis treatment, vaginal rejuvenation, laser resurfacing, and body contouring. The practice serves women across life stages and treats gynecological conditions including endometriosis, fibroid tumors, pelvic pain, urinary incontinence, and pelvic organ prolapse. Chapter 11 Petition Date: June 1, 2026 Court: United States Bankruptcy Court Middle District of Florida Four affiliates that concurrently filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code: Debtor Case No. ------ -------- Caceres Specialized Gynecology, LLC (Lead) 26-04100 Rejuv Cosmetic Surgery Institute And Spa LLC 26-04101 Sandlake Holding Group, LLC 26-04102 Caceres Holdings LLC 26-04103 Debtors' Counsel: R.Scott Shuker, Esq. SHUKER & DORRIS, P.A. 121 S. Orange Avenue Suite 1120 Orlando, FL 32801 Tel: (407) 337-2060 Email: rshuker@shukerdorris.com Each Debtor's Estimated Assets: $1 million to $10 million Each Debtor's Estimated Liabilities: $1 million to $10 million The petitions were signed by Aileen Caceres as manager. Full-text copies of the petitions, which include lists of the Debtors' largest unsecured creditors, are available for free on PacerMonitor at: https://www.pacermonitor.com/view/RR5OGDA/Caceres_Specialized_Gynecology__flmbke-26-04100__0001.0.pdf?mcid=tGE4TAMA https://www.pacermonitor.com/view/R4ON56I/Rejuv_Cosmetic_Surgery_Institute__flmbke-26-04101__0001.0.pdf?mcid=tGE4TAMA https://www.pacermonitor.com/view/5M7ZAHI/Sandlake_Holding_Group_LLC__flmbke-26-04102__0001.0.pdf?mcid=tGE4TAMA https://www.pacermonitor.com/view/5XH2OMI/Caceres_Holdings_LLC__flmbke-26-04103__0001.0.pdf?mcid=tGE4TAMA CAMP MONTE: Starts Chapter 11 Bankruptcy in New York ---------------------------------------------------- On June 2, 2026, Camp Monte LLC filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Eastern District of New York. According to court filings, the Debtor reports between $1 million and $10 million in debt owed to between 1 and 49 creditors. A meeting of creditors under Section 341(a) to be held on June 29, 2026 at 01:15 PM at USA Toll-Free (888) 330-1716, USA Caller Paid/International Toll (713) 353-7024, Access Code 8185618. The Debtor must submit its Chapter 11 Plan and Disclosure Statement by September 30, 2026. About Camp Monte LLC Camp Monte LLC is a camp and recreational services company that operates youth programs, outdoor activities, and related hospitality facilities. Camp Monte LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-42716) on June 2, 2026. In its petition, the Debtor reports estimated assets of $1 million to $10 million and estimated liabilities of $1 million to $10 million. The Honorable Bankruptcy Judge Jil Mazer-Marino handles the case. The Debtor is represented by Charles Wertman, Esq., of Law Offices of Charles Wertman P.C. CAPOSTRADA LLC: Hires Daniel Reinganum PC as Bankruptcy Counsel --------------------------------------------------------------- Capostrada LLC seeks approval from the U.S. Bankruptcy Court for the District of New Jersey to hire Law Offices of Daniel Reinganum, PC to handle the bankruptcy proceedings. The firm will be paid at these hourly rates: Daniel Reinganum, Esq., Shareholder $425 Debbie Jamison, Paralegal $150 Associate Attorney $225 to $275 Other Paraprofessionals $125 to $175 Samantha Clement, Accountant $125 Kathleen Constantino or Other Administrative Professional $75 to $100 The firm received a retainer in the amount of $8,500. Law Offices Of Daniel Reinganum, PC is a disinterested person under 11 U.S.C. Sec. 101(14), according to court filings. The firm can be reached through: Daniel Reinganum, Esq. Law Offices of Daniel Reinganum, PC 615 White Horse Pike Haddon Heights, NJ 08052 Phone: (856) 548-5440 Email: Daniel@ReinganumLaw.com About Capostrada LLC Capostrada LLC sought protection for relief under Chapter 11 of the Bankruptcy Code (Bankr. D.N.J. Case No. 26-15646) on May 19, 2026, listing up to $50,000 in assets and $100,001 to $500,000 in liabilities. Daniel L Reinganum, Esq. at Law Offices Of Daniel Reinganum, PC serves as the Debtor's counsel. CARBON HEALTH: Seeks to Hire BDO USA PC as Tax Services Provider ---------------------------------------------------------------- Carbon Health Technologies, Inc. and its affiliates seek approval from the U.S. Bankruptcy Court for the Southern District of Texas to employ BDO USA, P.C. as their tax advisory services provider. The firm will render these services: a. prepare federal, state, and local income/franchise tax return extension forms; b. calculate estimated tax payments; c. calculate the amount of gain or loss related to the Debtors' potential or contemplated sales/divestitures of stock, assets, franchise agreements, etc.; d. provide sell-side tax due diligence related to the contemplated transactions; e. read and comment on transaction related documents (i.e., purchase agreements, bills of sale, merger agreements, etc.); f. determine the tax consequences of a contemplated debt / equity conversion or other restructurings and if desired, structure a transaction or restructuring with the Debtor's creditors intended to qualify as a reorganization under Section 368(a)(1)(G); g. determine amount of the Debtors' tax attributes (i.e., loss carryforwards, credit carryforwards, basis etc.), including the extent to which tax attributes may be limited; h. determine amount of cancellation of indebtedness income (CODI) and/or gain related to the forgiveness of the Debtors' obligations; includes scrutiny of debt location and characterization with assistance from legal advisors; i. determine the amount of CODI that may be excluded from taxable income, as well as the related effects of attribute reduction; j. determine tax basis in the stock and assets held by the Debtors; k. determine impact of settling intercompany balances and, if applicable, optimize steps to settle such balances; l. identify and, to the extent feasible, mitigate the impact of triggering excess loss accounts; m. state and local tax consulting; n. quantify real estate transfer taxes (if any) applicable to the sale transactions and identify opportunities to mitigate such transfer taxes; and o. and any related requests made by the Debtors and agreed to by BDO. BDO's standard hourly rates: Principals/ Managing Director $850 to $1,200 Senior Manager $790 to $900 Manager $625 to $800 Seniors $380 to $625 Associates $175 to $380 BDO is a "disinterested person" as that term is defined in section 101(14) of the Bankruptcy Code, according to court filings. The firm can be reached through: Kevin Wilkes, JD, LL.M BDO USA, P.C. 330 N Wabash Avenue, Suite 3200 Chicago, IL 60611 Phone: (312) 856-9100 About Carbon Health Technologies Founded in 2015, Carbon Health Technologies Inc. is a modern healthtech company that offers in-person and virtual care for easier everyday health. Before the bankruptcy filing, Carbon Health Technologies operated 93 urgent care or primary care clinics in the states of Texas, Washington, California, Colorado, Kansas, Missouri, New Jersey and Massachusetts. On the Web: http://www.carbonhealth.com/ On Feb. 2, 2026, Carbon Health Technologies and 28 affiliated debtors each filed voluntary Chapter 11 petition (Bankr. S.D. Texas Lead Case No. 26-90306). At the time of the filing, Carbon Health Technologies reported $100 million to $500 million in both assets and liabilities. The cases are pending before the Honorable Christopher M. Lopez. Pachulski Stang Ziehl & Jones, LLP and Alvarez and Marsal serve as bankruptcy counsel and financial advisor, respectively. Kroll is the claims agent. KTBS Law is representing Future Solution Investments LLC, the agent for the pre-petition lenders and the DIP lenders. CARIBBEAN ISLAND: Commences Chapter 7 Bankruptcy in Florida ----------------------------------------------------------- On June 4, 2026, Caribbean Island Deals LLC filed for Chapter 7 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. Corporate Ownership Statement due 6/18/2026. Summary of Your Assets and Liabilities and Certain Statistical Information due June 18, 2026. About Caribbean Island Deals LLC Caribbean Island Deals LLC is a business company engaged in commercial ventures, investments, and transaction-based services, with activities that may include real estate, travel, hospitality, or related business operations. Caribbean Island Deals LLC sought relief under Chapter 7 of the U.S. Bankruptcy Code (Bankr. Case No. 26-17350) on June 4, 2026. In its petition, the Debtor reports estimated assets of $1 million to $10 million and estimated liabilities of $1 million to $10 million. The Honorable Bankruptcy Judge Scott M. Grossman handles the case. CD&R SMOKEY: S&P Downgrades LT ICR to 'CCC+', Outlook Negative -------------------------------------------------------------- S&P Global Ratings lowered its long-term issuer credit rating on Knoxville, Tenn.-based CD&R Smokey Buyer Inc. (dba PetSafe) to 'CCC+' from 'B-'. S&P also lowered its issue-level rating on PetSafe's senior secured notes to 'CCC+' from 'B-'. The '3' recovery rating is unchanged, indicating its expectation for meaningful (50%-70%; rounded estimate: 50%) recovery in the event of a payment default. The negative outlook reflects the potential for a lower rating if operating performance does not improve and S&P believes a default is likely to occur over the ensuing 12 months. PetSafe's sales and profits have declined, and credit metrics continued to deteriorate through the first quarter of fiscal 2026, with leverage near 14x. S&P expects top- and bottom-line pressures will persist over the next year and keep leverage above 10x. S&P believes there is a growing risk of a debt restructuring event given the challenges facing the business and uncertainty over the sustainability of its capital structure. Operating underperformance has persisted, with topline declining 8% in fiscal 2025, marking the fourth consecutive year of contraction. This reflects both sector-wide headwinds and broader macroeconomic pressures, underscoring the company's weakening competitive position, given challenging competitive dynamics. The e-commerce space remains intensely competitive with Amazon share losses remaining a central challenge. Management has made incremental distribution gains and is working to stabilize underperforming channels. However, results in the first quarter of fiscal 2026 declined an additional 5% year over year, reinforcing that a return to growth will likely take longer than previously anticipated and remains subject to execution risk. Further, PetSafe's S&P Global Ratings-adjusted EBITDA margin contracted 90 basis points (bps) over the last year due to the revenue declines, tariffs, and ongoing pressure from lower priced competitors. As a result, the company's S&P Global Ratings adjusted leverage weakened to about 14x and its EBITDA interest coverage declined to 0.7x for the last-12-months ended March 31, 2026. The ongoing Middle East war has also added macroeconomic uncertainty, further weakening consumer sentiment and discretionary spending patterns, and higher input costs that may be difficult to pass on to customers. Given these pressures, S&P expects the company's top line to remain soft and not fully stabilize until at least the back half of fiscal 2026 or early 2027. S&P said, "We expect modest free operating cash flow (FOCF) deficits over the next two years, but expect the company to maintain adequate liquidity. FOCF deficits grew to $19 million in fiscal 2025 primarily due to declining profitability and working capital investment in inventory. We continue to forecast modest FOCF deficits of $14 million and $7 million for fiscal years 2026 and 2027, respectively. The cash burn is primarily driven by muted demand and ongoing margin pressure. Even so, we assess PetSafe's liquidity as adequate, supported by roughly $110 million of available liquidity, including $27 million of cash and $83 million of availability under the borrowing base of the company's asset-based lending (ABL) facility. The company also has no near-term debt maturity and therefore adequate liquidity, but we view its capital structure as becoming unsustainable absent a successful turnaround and improvement in operating performance. "PetSafe faces an elevated risk of a potential debt restructuring, including a distressed exchange, which we would likely consider as tantamount to default. At the same time, the issuer's first-lien notes due 2029 are trading at 60 cents on the dollar, a deeply distressed level that signals investors are increasingly pricing in a nonpar outcome. Taken together, the sustained earnings pressure, and distressed trading levels indicate an increasing likelihood of a potential restructuring, albeit not imminent given the company's sufficient near-term liquidity cushion." The negative outlook reflects the heightened risk of a debt restructuring or default given the company's ongoing weak operating performance, negative FOCF, and unsustainable capital structure absent a successful business turnaround. S&P could lower its ratings if it envisions a default over the ensuing 12 months. This could occur if the company enters into a liability management exercise, including a distressed exchange, which S&P Global Ratings views as deem tantamount to default. S&P could take a positive rating action if the company improves operating performance resulting in sustained positive FOCF and EBITDA interest coverage approaching 1.5x. CHAMPION HOME: Seeks to Hire Norgaard O'Boyle & Hannon as Counsel ----------------------------------------------------------------- Champion Home Investments LLC seeks approval from the U.S. Bankruptcy Court for the District of New Jersey to hire Norgaard O'Boyle & Hannon as counsel. The firm will provide these services: (a) prepare pleadings and related documents in the case; (b) represent the Debtor before the Court, the creditors and interested parties; (c) assist development and proposal of Chapter 11 plan; and (d) advise the Debtor in connection with its rights and duties. The firm will be paid at these hourly rates: Partners and Of Counsel $400 - $425 Senior Associates $325 Associates $250 - $300 Paralegals $150 Karl J. Norgaard, Esq., an attorney at Norgaard O'Boyle & Hannon, 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: Karl J. Norgaard, Esq. Norgaard O'Boyle & Hannon 184 Grand Avenue Englewood, NJ 07631 Telephone: (201) 871-1333 Email: knorgaard@norgaardfirm.com About Champion Home Investments LLC Champion Home Investments LLC is a real estate investment company that owns residential properties in Newark, New Jersey. The company's holdings include properties on South 12th Street, 9th Avenue West, South 11th Street, Grand Avenue and Whittier Place. Champion Home Investments LLC sought relief under Chapter 11 of the U.S. ankruptcy Code (Bankr. D.N.J. Case No. 26-15831) on May 22, 2026. In its petition, the Debtor reports $1,000,001 to $10 million in both assets and liabilities. The Debtor is represented by Karl J. Norgaard, Esq. of Norgaard O'Boyle. CHON'S PAINT: Hires DeConcini McDonald Yetwin & Lacy as Attorney ---------------------------------------------------------------- Chon's Paint & Body Inc. seeks approval from the U.S. Bankruptcy Court for the DeConcini McDonald Yetwin & Lacy, P.C. as attorneys. The firm will render these services: a. give the Debtor legal advice with respect to its powers and duties of a debtor and debtor-in-possession; b. give the Debtor legal advice with respect to the sale or disposition of estate assets, if necessary; c. take required action to recover certain property and money owed to the Debtor, if necessary; d. prepare on behalf of the Debtor, the necessary statements, schedules, complaints, answers, applications, orders, reports, plan of reorganization, motions, objections, and other legal documents; and e. perform all other legal services that the Debtor deems necessary. The firm will be paid at these rates: Jody A. Corrales $395 per hour Associates $285 per hour Paraprofessionals $210 per hour DeConcini McDonald Yetwin & Lacy, P.C. does not represent any other entity having an adverse interest in connection with this case, according to court filings. The firm can be reached through: Jody A. Corrales, Esq. DeConcini McDonald Yetwin & Lacy, P.C. 2525 East Broadway, Suite 200 Tucson, AZ 85716-5300 Phone: (520) 322-5000 Email: jcorrales@dmyl.com About Chon's Paint & Body Inc. Chon's Paint & Body Inc. filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. D. Ariz. Case No. 26-05065) on May 21, 2026, listing $500,001 to $1 million in both assets and liabilities. Jody A. Corrales, Esq. at Deconcini Mcdonald Yetwin & Lacy P.C. serves as the Debtor's counsel. CLEAN ENERGY: Late 10-Q Triggers Nasdaq Listing Rule Non-Compliance ------------------------------------------------------------------- Clean Energy Technologies, Inc. announced in a regulatory filing that it received a written notice from the Listing Qualifications Department of The Nasdaq Stock Market indicating that it is not in compliance with Nasdaq Listing Rule 5250(c)(1) because the Company had not yet filed its Quarterly Report on Form 10-Q for the period ended March 31, 2026. The Rule requires listed companies to timely file all required periodic reports with the Securities and Exchange Commission. The Notice has no immediate effect on the listing or trading of the Company's securities. However, if the Company fails to timely regain compliance with the Rule, the Company's securities will be subject to delisting from Nasdaq. Under Nasdaq rules, the Company has 60 calendar days from receipt of the Notice, to submit a plan to regain compliance with the Rule. If Nasdaq accepts the Company's plan, then Nasdaq may grant an exception of up to 180 calendar days from the due date of the Form 10-Q, or until November 16, 2026, to regain compliance. However, there can be no assurance that Nasdaq will accept the Company's plan to regain compliance or that the Company will be able to regain compliance within any extension period granted by Nasdaq. If Nasdaq does not accept the Company's plan, then the Company will have the opportunity to appeal that decision to a Nasdaq hearings panel. The Company is working diligently to complete and file the Quarterly Report and regain compliance with the Rule. However, if the Company's common stock ultimately were to be delisted for any reason, it could negatively impact the Company by: (i) reducing the liquidity and market price of the Company's common stock; (ii) reducing the number of investors willing to hold or acquire the Company's common stock, which could negatively impact the Company's ability to raise equity financing; (iii) limiting the Company's ability to use a registration statement to offer and sell freely tradable securities, thereby preventing the Company from accessing the public capital markets; and (iv) impairing the Company's ability to provide equity incentives to its employees. About Clean Energy Headquartered in Irvine, California, Clean Energy Technologies, Inc. -- http://www.cetyinc.com-- develops renewable energy products and solutions and establishes partnerships in renewable energy that make environmental and economic sense. The Company's mission is to be a segment leader in the Zero Emission Revolution by offering eco-friendly energy solutions, clean energy fuels, and alternative electric power for small and mid-sized projects in North America, Europe, and Asia. The Company targets sustainable energy solutions that are profitable for it, profitable for its customers, and represent the future of global energy production. Diamond Bar, California-based TAAD, LLP, the Company's auditor since 2023, issued a "going concern" qualification in its report dated April 14, 2025, attached to the Company's Annual Report on Form 10-K for the year ended December 31, 2024, citing that the Company has an accumulated deficit and negative cash flows from operations. These factors, among others, raise substantial doubt about the Company's ability to continue as a going concern. As of September 30, 2025, the Company had $14,798,895 in total assets, $7,703,762 in total liabilities, and $7,095,133 in total stockholders' equity. COVENANT LAND: Commences Chapter 11 Bankruptcy in Georgia --------------------------------------------------------- On June 2, 2026, Covenant Land Holdings LLC commenced a voluntary Chapter 11 bankruptcy filing in the Northern District of Georgia Bankruptcy Court. Court records indicate the company has liabilities between $100,001 and $1,000,000, with approximately 1–49 creditors involved. A meeting of creditors under Section 341(a) to be held on July 7, 2026 at 03:00 PM via Telephone conference. To attend, Dial 888-330-1716 and enter access code 6960876. About Covenant Land Holdings LLC Covenant Land Holdings LLC is a Georgia-based real estate holding entity focused on land acquisition, development, and property investment activities. The Debtor filed under Chapter 11 (Case No. 26-57285) on June 2, 2026, reporting estimated assets and liabilities both in the range of $100,001–$1,000,000. DC CABLE: Seeks to Hire Pyramid Brokerage as Real Estate Broker --------------------------------------------------------------- DC Cable & Telecommunications, LLC seeks approval from the U.S. Bankruptcy Court for the Western District of New York to hire Ronald Panosian and Pyramid Brokerage Company as real estate broker. The broker will market and sell the Debtor's property located at 1009 Fountain Lane, Lowman, NY 14861. The broker will receive a commission equal to 10% of the sales price. Mr. Panosian assured the court that Pyramid Brokerage Company is a "disinterested person" within the meaning of 11 U.S.C. Sec. 101(14). The broker can be reached through: Ronald Panosian Pyramid Brokerage Company 8 Denison Parkway East, Suite 401 Corning, NY 14830 Telephone: (607) 937-9720 Facsimile: (607) 937-9252 About DC Cable & Telecommunications DC Cable & Telecommunications, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D.N.Y. Case No. 26-20130) on Feb. 27, 2026, with $1,197,217 in assets and $1,993,374 in liabilities. Donald G. Crouch, chief executive officer, signed the petition. Judge Carl L. Bucki oversees the case. The Debtor tapped Charles E. Andersen, Esq., as counsel. DELEK LOGISTICS: Moody's Affirms 'B1' CFR, Outlook Remains Stable ----------------------------------------------------------------- Moody's Ratings affirmed the ratings of Delek Logistics Partners, LP's ("DKL"), including the B1 Corporate Family Rating, B1-PD Probability of Default Rating and B2 ratings on the existing senior unsecured notes. The SGL-3 Speculative Grade Liquidity rating (SGL) is unchanged. The rating outlook remains stable. RATINGS RATIONALE DKL's B1 CFR reflects its stable cash flow, improving diversification of its client base and, long-term fee-based contracts with third parties. The credit profile is constrained by high distributions associated with the MLP model, the current scale of operations and current financial leverage (debt / EBITDA) of 4.7x as of March 31, 2026. The company has consistently generated negative cash flow over the last 4 years due to its high distributions and growth capital spending. Between 2022 and 2025, DKL made acquisitions for around $1.2 billion which allowed to increase and diversify its revenue base. While Delek US Holdings, Inc. ("DK", B1 stable) remains the company's largest customer, its relative weight over DKL's total revenues is expected to continue reducing (49% in 2025 vs. 60% in 2021). According to company's management, third parties accounted for around 70% of DKL's 2025 cash flow. While Moody's acknowledges DKL's efforts to diversify its revenue base, Moody's considers that DK's ratings still have a material impact on the company's credit standing given their operations are highly integrated. A significant portion of DKL's crude gathering, pipelines and storage assets primarily serve the DK operations (Tyler, El Dorado, Big Spring refineries). Additionally, both entities share corporate costs and common services that are not fully allocated between the companies but rather reported on a consolidated basis. The stable outlook reflects Moody's expectations that DKL will generate stable cash flow from its long term contracts and continue diversifying its revenue base, without increasing leverage levels. The SGL-3 Speculative Grade Liquidity Rating reflects Moody's expectations DKL will maintain adequate liquidity supported by cash flow from operations, modest cash balance ($10 million as of March 31, 2026) and unused capacity under its revolving credit facility due in March 2031. The $1.3 billion revolver had $161 million of borrowings as of March 31, 2025. The revolver has three financial covenants -- a maximum Total Leverage Ratio of 5.25x and maximum Senior Leverage Ratio of 3.75x (with 0.25x step up provisions for up to four quarters for both leverage ratios for certain qualifying growth initiatives) and a minimum Interest Coverage Ratio of 2.0x. Moody's believes the company will remain in compliance with the financial covenants through 2027. The next maturity of notes is in 2029. DKL's senior unsecured notes are rated B2, one notch below the B1 CFR, given its contractual subordination to obligations under DKL's $1.3 billion secured credit facility (unrated). The revolving credit facility is secured by a first priority lien on substantially all of DKL's assets. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS The ratings could be upgraded if DKL continues to increase its scale and grow EBITDA, sources an increasing majority of earnings from third parties and achieves positive free cash flow, while maintaining leverage (Debt / EBITDA) below 4.0x. Given DK's controlling ownership and importance as a counterparty, an upgrade would also require that DK's CFR is sustained at B1 or higher. The ratings could be downgraded if leverage (debt /EBITDA) were to rise above 5.0x on a sustained basis or liquidity were to deteriorate. DK's CFR declining below B2 could also lead to a downgrade of DKL's rating. Delek Logistics Partners, LP, headquartered in Brentwood, Tennessee, is a midstream logistics company with crude oil and product transportation pipelines and crude oil gathering systems, terminals and storage facilities. DKL's largest business segment is gathering and processing, which accounted for around 67% of its 1Q26 EBITDA (50% of 2024 EBITDA). Delek US Holdings, Inc. (NYSE: DK) owns 100% of DKL's general partner and 63.3% of common units as of March 31, 2026. DK is expected to continue reducing its ownership of DKL's common units (79% in 4Q23). The principal methodology used in these ratings was Midstream Energy published in October 2025. The net effect of any adjustments applied to rating factor scores or scorecard outputs under the primary methodology(ies), if any, was not material to the ratings addressed in this announcement. DELEK US: Moody's Affirms 'B1' CFR & Alters Outlook to Stable ------------------------------------------------------------- Moody's Ratings affirmed Delek US Holdings, Inc.'s ("Delek") B1 Corporate Family Rating and B1-PD Probability of Default Rating. Delek's senior secured term loan B rating was also affirmed at B2. The outlook was changed to stable from negative. RATINGS RATIONALE The outlook on the ratings was changed to stable from negative considering the expected reduction in leverage in 2026 resulting from stronger crack spreads, margin improvements from its Enterprise Optimization Plan (EOP), and moderate debt reduction. Delek's B1 CFR reflects its current throughput capacity of more than 300 thousands of barrels a day, operations in markets with supportive regulations and, historically prudent liquidity management through large cash balances and ample availability of its revolver facilities. The ratings are constrained by the high volatility of its profit margins, from exposure to crack spreads and current financial leverage. Delek's gross debt, excluding the debt of Delek Logistics Partners, LP (DKL, B1 stable), has been relatively elevated considering the inherent volatility of the refining business and the material impact of recurrent turnarounds in the company's earnings. On a consolidated basis, the company's gross leverage reached 5.3x at LTM March 2026. Moody's notes the company has reduced its ownership over DKL in the last 3 years nevertheless; their operations remain highly integrated. As such Moody's also evaluates their consolidated performance in Moody's assessments of the company. Delek's Tyler, El Dorado, Big Spring refineries are vertically integrated to gathering, pipeline and storage assets owned and operated by DKL. Additionally, both entities share corporate costs and common services that are not allocated between the companies but rather reported on a consolidated basis. DKL is also an important source of cash flows to its parent through regular distributions ($151 million in 2025 and $149 million in 2024). Delek maintains adequate liquidity reflected in its SGL-3 Speculative Grade Liquidity rating. The liquidity position is supported by the large cash balance ($624 million as of March 31, 2026) and committed $1.25 billion ABL revolving facility. At the end of Q1 2026, Delek's ABL had no borrowings and outstanding letters of credit totaling $296 million. The ABL facility matures in April 2031 subject to springing maturity applicable if Delek's term loan has a principal higher than $500 million 90 days prior to its maturity date in 2032. The revolver has a minimum fixed charge coverage ratio of 1.0x, which is only tested if excess availability is less than the greater of 10% of the revolver borrowing base and $90 million. Moody's do not expect the covenant to be tested through 2027. The company additionally maintains an inventory intermediation agreement with Citibank Energy Inc. that covered three refineries and provides up to $800 million of working capital funding, this facility had an outstanding balance of $230 million at March 2026. Moody's don't expect material changes in company's liquidity position in 2026 as capex and distributions are projected to be funded using operating cash flow. The company's $850 million secured term loan B due 2032 is rated B2, one notch below the B1 CFR, reflecting the priority claim of the $1.25 billion revolving credit facility, which shares the same collateral as the term loan, but has a first lien on working capital and a second lien on fixed assets, whereas the term loan has a first lien priority claim on fixed assets and a second lien on working capital. Moody's views the B2 rating assigned to the term loan as more appropriate than the rating indicated by Moody's Loss Given Default for Speculative-Grade Companies methodology given the inherent volatility of the company's trade payables and lack of material other debt outstanding that is subordinated to the term loan. A large source of Delek's earnings, as reported in its consolidated financials, are from the midstream operations of DKL. However, DKL does not guarantee the Delek term loan and the term loan is structurally subordinated to the DKL notes with respect to the cash flow generated by DKL. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS The ratings could be upgraded if operating performance improves, including successful execution on projects underpinning the EOP to improve the cost position of its refining assets, the refining operations generate positive free cash flow, and gross debt is reduced enabling DK to sustain stand-alone credit metrics supportive of a higher rating. The ratings could be downgraded if operating performance of the refining operations underperforms, such that the company does not generate positive free cash flow with mid-cycle refining margins or if liquidity deteriorates. A meaningful decline in the cash balance or increase in net debt without the benefit of more reliable positive free cash flow from the refining assets could result in a downgrade. Delek US Holdings, Inc. (NYSE: DK), headquartered in Brentwood, Tennessee, is an independent refining and wholesale marketing company with 302 Mbpd of total crude oil throughput capacity at four refineries and midstream assets. Additionally, it holds a ~63% (as of March 31, 2026, including the general partner interest) stake in the midstream logistics company, Delek Logistics Partners, LP (NYSE: DKL, B1 stable) which operates crude oil, natural gas and water midstream assets. The principal methodology used in these ratings was Refining and Marketing published in February 2026. The net effect of any adjustments applied to rating factor scores or scorecard outputs under the primary methodology(ies), if any, was not material to the ratings addressed in this announcement. DELGADO HOLDINGS: Starts Chapter 11 Bankruptcy in Georgia --------------------------------------------------------- On June 2, 2026, Delgado Holdings GA LLC filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Northern District of Georgia. According to court filings, the Debtor reports between $100,001 and $1,000,000 in debt owed to approximately 1–49 creditors. A meeting of creditors under Section 341(a) to be held on July 6, 2026 at 10:30 AM via Telephone conference. To attend, Dial 888-330-1716 and enter access code 6960876. Chapter 11 Plan and Disclosure Statement due September 30, 2026. About Delgado Holdings GA LLC Delgado Holdings GA LLC is a Georgia-based holding company engaged in investment, ownership, and management activities involving business and real estate assets. Delgado Holdings GA LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-57297) on June 2, 2026. In its petition, the Debtor reported estimated assets of $100,001–$1,000,000 and estimated liabilities of $100,001–$1,000,000. DEQSER LLC: Seeks to Hire Stretto Inc. as Solicitation Agent ------------------------------------------------------------ Deqser LLC and KNY 26671 LLC seek approval from the U.S. Bankruptcy Court for the District of Delaware to employ Stretto Inc. as solicitation agent. The firm will render these services: (a) assist with, among other things, solicitation, balloting, and tabulation of votes; prepare any related reports, as required in support of confirmation of a chapter 11 plan; (b) prepare an official ballot certification and, if necessary, testify in support of the ballot tabulation results; and (c) provide such other solicitation, balloting and other administrative services as may be requested from time to time by the Debtors, the Bankruptcy Court or the Office of the Clerk of the Bankruptcy Court. Prior to the petition date, the Debtors provided Stretto an advance in the amount of $10,000. Sheryl Betance, a senior managing director at Stretto, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Sheryl Betance Stretto, Inc. 410 Exchange Irvine, CA 92602 Telephone: (800) 634-7734 About 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. DIRECT MOTOR: Seeks to Hire David Freydin PC as Bankruptcy Counsel ------------------------------------------------------------------ Direct Motor Lines, Inc. seeks approval from the U.S. Bankruptcy Court for the Northern District of Illinois to hire the Law Offices of David Freydin PC as bankruptcy counsel. The attorneys will provide these services: (a) negotiation with creditors; (b) preparation of a plan and financial statements; and (c) examination and resolution of claims filed against the estate. The professionals will be compensated on an hourly basis at a rate of $450 per hour. The firm received a $20,000 retainer prior to filing the case. The proposed counsel does not hold or represent an interest adverse to the estate and is a disinterested person within the meaning of Section 327(a) and Section 101(14) of the Bankruptcy Code, according to court filings. The firm can be reached at: David Freydin, Esq. Jan Michael Hulstedt, Esq. Derek V. Lofland, Esq. LAW OFFICES OF DAVID FREYDIN, PC 8707 Skokie Blvd, Suite 312 Skokie, IL 60077 Telephone: (847) 972-6157 Facsimile: (866) 897-7577 E-mail: david.freydin@freydinlaw.com jan@freydinlaw.com derek@freydinlaw.com About Direct Motor Lines, Inc. Direct Motor Lines, Inc. filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Ill. Case No. 26-08611) on May 19, 2026, listing $1,000,001 to $10 million in both assets and liabilities. Judge David H Decelles presides over the case. David Freydin, Esq. at Law Offices Of David Freydin Ltd serves as the Debtor's counsel. DIXIE GROUP: Barry Blank Holds 5.5% Equity Stake ------------------------------------------------ Barry W. Blank disclosed in a Schedule 13G filed with the U.S. Securities and Exchange Commission that as of May 27, 2026, he beneficially owns 770,657 shares with no sole voting power, 770,657 shared voting power, no sole dispositive power, and 770,657 shared dispositive power of The Dixie Group, Inc.'s Common Stock, representing 5.5% of the outstanding shares. Shares are held by Virginia Duran and Barry W. Blank but still voted by Barry W. Blank. Barry W. Blank may be reached through: Barry W. Blank 48 Wall Street Suite 1206 New York, NY 10005 A full-text copy of Barry W. Blank's SEC report is available at: https://tinyurl.com/4p2pdbtf About Dixie Group The Dixie Group, Inc. manufactures, markets, and sells floorcovering products to residential customers in North America and internationally. The Company offers residential carpets, custom rugs, and engineered wood products under the Fabrica brand for interior decorators and designers, selected retailers and furniture stores, luxury home builders, and manufacturers of luxury motor coaches and yachts; and specialty carpets and rugs for the high-end residential marketplace, as well as luxury vinyl flooring products and broadloom carpet products under the Masland Residential brand name through the interior design community and specialty floorcovering retailers. It provides residential tufted broadloom carpets and rugs to selected retailers and home centers under the DH floors and private label brands, as well as luxury vinyl flooring products to the marketplace it serves. The Company was founded in 1920 and is based in Dalton, Georgia. Atlanta, Georgia-based Forvis Mazars, LLP, the Company's auditor since 2013, issued a "going concern" qualification in its report dated March 26, 2026, citing that the Company has suffered recurring losses from operations, reduced availability under its credit facility, covenant violations, and macroeconomic pressures. This raises substantial doubt about the Company's ability to continue as a going concern. As of March 28, 2026, the Company had $179,243,000 in total assets, $169,259,000 in total liabilities, and $9,984,000 in total stockholders' equity. DIXIE GROUP: Daniel Frierson Holds 7.3% Equity Stake ---------------------------------------------------- Daniel K. Frierson, Joan H. Frierson (individually in her capacity as trustee for named grandchildren), Emily F. Brown, and D. Kennedy Frierson, Jr. disclosed in a Schedule 13D (Amendment No. 23) filed with the U.S. Securities and Exchange Commission that as of May 26, 2026, they beneficially own the following shares of The Dixie Group, Inc.'s Common Stock, Par Value $3.00 Per Share: * Daniel K. Frierson -- 1,099,915 shares, representing 7.3% of the shares outstanding. * Joan H. Frierson, individually in her capacity as trustee for named grandchildren -- 153,152 shares, representing 1.0% of the shares outstanding. * Emily F. Brown -- 33,177 shares, representing 0.0% of the shares outstanding. * D. Kennedy Frierson, Jr. -- 454,601 shares, representing 3.1% of the shares outstanding. Based on the 14,075,583 shares of Common Stock deemed to be outstanding as of May 25, 2026. The Amendment No. 23 report is filed to acknowledge and to state that the parties to the former Shareholders Agreement dated November 6, 2015 and amended as of July 11, 2016, (and which has expired) are no longer deemed to be a group for purposes of reporting their beneficial ownership of the Common Stock of the Dixie Group, Inc. Daniel K. Frierson may be reached through: John F. Henry, Jr., Esq. 832 Georgia Avenue Suite 1200 Chattanooga, TN 37402 Tel: 423-756-6600 A full-text copy of Daniel K. Frierson's SEC report is available at: https://tinyurl.com/4xtr8xc7 About Dixie Group The Dixie Group, Inc. manufactures, markets, and sells floorcovering products to residential customers in North America and internationally. The Company offers residential carpets, custom rugs, and engineered wood products under the Fabrica brand for interior decorators and designers, selected retailers and furniture stores, luxury home builders, and manufacturers of luxury motor coaches and yachts; and specialty carpets and rugs for the high-end residential marketplace, as well as luxury vinyl flooring products and broadloom carpet products under the Masland Residential brand name through the interior design community and specialty floorcovering retailers. It provides residential tufted broadloom carpets and rugs to selected retailers and home centers under the DH floors and private label brands, as well as luxury vinyl flooring products to the marketplace it serves. The Company was founded in 1920 and is based in Dalton, Georgia. Atlanta, Georgia-based Forvis Mazars, LLP, the Company's auditor since 2013, issued a "going concern" qualification in its report dated March 26, 2026, citing that the Company has suffered recurring losses from operations, reduced availability under its credit facility, covenant violations, and macroeconomic pressures. The raises substantial doubt about the Company's ability to continue as a going concern. As of March 28, 2026, the Company had $179,243,000 in total assets, $169,259,000 in total liabilities, and $9,984,000 in total stockholders' equity. DNA X: Issues $3.05M Convertible Note to DNA Holdings Venture ------------------------------------------------------------- DNA X, Inc. announced in a regulatory filing that it entered into a Securities Purchase Agreement with DNA Holdings Venture, Inc. pursuant to which the Company sold and issued to the Purchaser a convertible promissory note in the principal amount of $3,052,787.68 for an aggregate purchase price in the same amount. The transactions contemplated by the Purchase Agreement, including the issuance of the Note, were consummated on May 26, 2026. The aggregate purchase price for the Note consisted of $1,800,000.00 in cash and the surrender of the convertible promissory note, dated December 15, 2025, in the principal amount of $1,200,000.00 issued by the Company to the Purchaser, including $52,787.68 of accrued unpaid interest on such principal amount. The Purchase Agreement contains customary representations, warranties and covenants by the Company and customary closing conditions. The SPA requires the proceeds from the sale of the Note to be used for working capital purposes, but not for the satisfaction of any Company debt (other than the payment of trade payables in the ordinary course of business), the redemption of common stock or common stock equivalents, the settlement of any litigation, or in violation of certain antibribery and anticorruption laws specified in the Purchase Agreement. The Note matures on December 31, 2026, accrues interest at a rate of 10% per annum, and, subject to the prior approval of the conversion of the Note by the Company's stockholders, is convertible into shares of the Company's common stock at the election of the holder at an initial conversion price of $6.00 per share, subject to adjustment as provided in the Note, provided, that: (i) during the continuance of any Event of Default (as defined in the Note), the conversion price will be equal to 80% of the closing price of the common stock on the principal trading market on the date of conversion and (ii) upon the occurrence of a Change of Control Transaction (as defined in the Note), and subject to the prior obtainment of the Stockholder Approval, the conversion price will be equal to the lower of the closing price of the common stock on (x) the original issue date of the Note or (y) the date that the Change of Control Transaction is consummated. The Company's obligations under the Note are secured by a first priority lien and security interest in and to the following collateral: (i) the limited liability company membership interests owned by the Company in its wholly owned subsidiary DNA X, LLC, a Delaware limited liability company, and all dividends, cash, instruments, and other property from time to time received or distributed in respect thereof and all proceeds of any of the foregoing in whatever form. The security interest in the Pledged Collateral is continuing and shall remain in full force and effect until the indefeasible payment in full of the Note, upon which the security interest shall terminate and all rights to the Pledged Collateral shall revert to the Company. Amendment of Membership Interest Purchase Agreement Concurrently with the closing of the transactions contemplated by, and as a condition and inducement to the Company's willingness to enter into, the Purchase Agreement, the Company and the Purchaser entered into an Amendment No. 1 to the Membership Interest Purchase Agreement pursuant to which the Company and the Purchaser agreed to terminate the "Put Option" described therein, effective as of the execution of the Purchase Agreement. Full text copies of the Purchase Agreement, Note and Purchase Agreement Amendment are available at https://tinyurl.com/4rhvw7td, https://tinyurl.com/u33f4x3y and https://tinyurl.com/4x2dkxjy, respectively. About DNA X, INC. DNA X, Inc. -- www.dnax.us -- was incorporated in the state of Delaware on August 5, 1999 under the name Sonim Technologies Inc., and is headquartered in San Diego, California. Effective January 23, 2026, the Company changed its name to DNA X, Inc. The Company operates a cryptocurrency trading service that operates on the internet and allows customers to trade cryptocurrencies and to implement strategies to buy and sell pairs of cryptocurrencies. Until January 23, 2026, the Company operated a cell phone and mobile hotspot manufacturing business. The assets of the phone and mobile hotspot business were sold to Pace Car Acquisition LLC on January 23, 2026. As of December 31, 2025, the Company had $43.9 million in total assets, $50.6 million in total liabilities, and $8 million in total stockholders' deficit. San Jose, CA-based Baker Tilly US, LLP, issued a "going concern" qualification in its report dated April 14, 2026, attached to the Company's Annual Report on Form 10-K for the year ended December 31, 2025, citing that the Company is subject to the risks and uncertainties associated with operating a cryptocurrency trading platform, including the ability to attract new customers and keep existing customers from moving their business to other competitors. Further, the Company is not currently generating enough cash to cover the Company's overhead, and as such, the Company must secure capital by either issuing equity or through debt. These conditions raise substantial doubt about its ability to continue as a going concern. DZS ENTERPRISE: Mark Shapiro Named Subchapter V Trustee ------------------------------------------------------- The U.S. Trustee for Regions 3 and 9 appointed Mark Shapiro of Steinberg, Shapiro & Clark as Subchapter V trustee for DZS Enterprise Services, LLC. Mr. Shapiro will be paid an hourly fee of $400 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Shapiro declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Mark H. Shapiro Steinberg, Shapiro & Clark 25925 Telegraph Rd., Ste. 203 Southfield, MI 48033 Phone: (248) 352-4700 Email: shapiro@steinbergshapiro.com About DZS Enterprise Services LLC DZS Enterprise Services, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Mich. Case No. 26-46079) on May 27, 2026, with $500,001 to $1 million in assets and $100,001 to $500,000 in liabilities. Judge Lisa S. Gretchko presides over the case. Edward J. Gudeman, Esq. at Gudeman & Associates, P.C. represents the Debtor as legal counsel. ELITE PROJECT: Frances Smith Named Subchapter V Trustee ------------------------------------------------------- The U.S. Trustee for Region 6 appointed Frances Smith, Esq., at Ross, Smith & Binford, PC, as Subchapter V trustee for Elite Project Management LLC. Ms. Smith will be paid an hourly fee of $475 for her services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Ms. Smith declared that she is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Frances A. Smith, Esq. Ross, Smith & Binford, PC 700 N. Pearl Street, Ste. 1610 Dallas, TX 75201 Phone: 214-593-4976 Fax: 214-377-9409 Email: frances.smith@rsbfirm.com About Elite Project Management LLC Elite Project Management LLC is a Texas-based company engaged in project management and business support services for commercial and operational projects. Elite Project Management LLC sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Texas Case No. 26-42193) on May 19, 2026. In its petition, the Debtor reports estimated assets between $0 and $100,000 and estimated liabilities between $1 million and $10 million. Honorable Bankruptcy Judge Mark X. Mullin handles the case. The Debtor is represented by Robert Thomas DeMarco, Esq. ENDO INT'L: Court Narrows Claims in Suit vs TPG over Par Deal ------------------------------------------------------------- Judge David S. Jones of the U.S. Bankruptcy Court for the Southern District of New York granted in part and denied in part TPG Capital, L.P., et al.'s motion to dismiss the adversary proceeding captioned as MATTHEW DUNDON, TRUSTEE OF THE ENDO GUC TRUST, Plaintiff, v. TPG CAPITAL, L.P., TPG GLOBAL, LLC, TPG VI MANAGEMENT, LLC, TPG PARTNERS VI, L.P., TPG BIOTECHNOLOGY PARTNERS IV, L.P., TPG ADVISORS V, INC., TPG ADVISORS VI, INC., TPG BIOTECHNOLOGY GENPAR IV, L.P., TPG GENPAR VI, L.P, TPG SKY L.P., TPG SKY CO-INVEST L.P., TPG BIOTECHNOLOGY PARTNERS IV L.P., PARK STREET INVESTORS L.P., PAUL VICTOR CAMPANELLI, THOMAS JOSEPH HAUGHEY, TERRANCE COUGHLIN, PATRICK LEPORE, BARRY J., GILMAN, JOSEPH A. BARBARITE, CHAD M. GASSERT, STEPHEN O. MONTALTO, ANTONIO PERA, MUTHUSAMY SHANMUGAM, STEPHEN CAREY, SUKETU P. SANGHVI, LAWRENCE MILTON BROWN, PHILLIP JOHN BRANCAZIO, DIANE MONTALTO, SHARAD MANSUKANI, KEITH A. KUCINSKI, MICHAEL J. ALTAMURO, MARTIN L. WILSON, KAREN A. O'CONNOR, JOHN L. AMERES, HYUN SOO HONG, ANH TRANCAO, and JOHN DOES 1-999, Defendants, Adv. Pro. No. 24-7030 (DSJ) (Bankr. S.D.N.Y.). The trustee of a trust created for the benefit of opioid victims and other unsecured creditors of Endo International plc and related entities brought a lawsuit seeking to avoid Endo's payment of consideration as part of its multi-billion-dollar acquisition of an allegedly grossly overvalued generic pharmaceutical company called Par Pharmaceutical, Inc. The suit also seeks to hold the seller, the private equity firm TPG and affiliated entities, along with other defendants, responsible in contribution for a portion of the liability and costs that Endo incurred in connection with the opioid crisis. The operative complaint asserts two types of claims: (1) claims for constructive fraudulent transfer for Endo's acquisition-associated payments made to the defendants, and (2) claims for contribution from the defendants for costs that Endo incurred in defending and settling opioid-related litigation, allegedly due to TPG's and other defendants' actionable acts and omissions during the pre-Endo-acquisition period when TPG owned and managed Par. The trustee contends that the purchase price Endo paid to acquire Par was so excessive that Endo did not obtain reasonably equivalent value and that Endo was insolvent or left with unreasonably small capital as a result of its acquisition of Par. An important pillar of this claim is the theory that Endo was insolvent and Par's value was overstated due to both companies' unacknowledged but massive accrued opioid liabilities. The Trustee further seeks contribution from all defendants for liabilities and costs Endo experienced following the transaction that flowed from the actions of defendants while they owned and managed Par. The operative complaint names numerous defendants that generally fall into three categories: (1) TPG Transfer Defendants -- TPG entities that sold Par to Endo and directly received payments and other consideration from Endo in the acquisition; (2) TPG Defendants -- those entities together with additional TPG entities, against all of whom a contribution claim is asserted; and (3) Individual Defendants -- former officers and directors of Par who held unmatured options and other entitlements in Par and were paid in satisfaction of those entitlements in the transaction. All defendants have moved to dismiss the case. The Court denies the motion to dismiss the fraudulent transfer claim against the TPG Transfer Defendants. The Court finds the complaint plausibly alleges that Endo did not receive reasonably equivalent value in acquiring Par, based on two main types of alleged facts: (1) the purchase price enormously exceeded contemporaneous valuations of Par, and (2) Endo's market capitalization declined by billions of dollars within a short period after the Par transaction was announced. The Court also finds the complaint plausibly alleges that Endo was insolvent or left with unreasonably small capital after it acquired Par due mostly to large, accrued but unacknowledged opioid liabilities. The complaint does not, however, plausibly allege a constructive fraudulent conveyance claim against the Individual Defendants. The Trustee fails to allege that the Individual Defendants were direct recipients of the transfers that they received. According to the Court, the facts alleged do not plausibly make the additional showing required of constructive fraudulent conveyance claims against subsequent transferees. The complaint's contribution claim is dismissed for its lack of factual support for any plausible inference that any particular defendant caused a discernible portion of the liabilities Endo eventually incurred due to opioid-related activities. Thus, the Court: (i) grants the motions to dismiss the contribution claim against all Defendants, (ii) grants dismissal of the constructive fraudulent transfer claim against the Individual Defendants, and (iii) denies dismissal of the constructive fraudulent transfer claim against the TPG Transfer Defendants. A copy of the Court's Decision and Order dated May 29, 2026, is available at http://urlcurt.com/u?l=pqy0JRfrom PacerMonitor.com. Counsel for Plaintiff Matthew Dundon, Trustee of the Endo GUC Trust: Duane L. Loft, Esq. Anastasia Cembrovska, Esq. John McAdams, Esq. Jill Forester, Esq. PALLAS PARTNERS (US) LLP 75 Rockefeller Plaza New York, NY 10019 E-mail: duane.loft@pallasllp.com anastasia.cembrovska@pallasllp.com john.mcadams@pallasllp.com jill.forster@pallasllp.com Counsel for Defendants TPG Capital, L.P., TPG Global, LLC, TPG VI Management, LLC, TPG Partners VI, L.P., TPG Biotechnology Partners IV, L.P., TPG Advisors V, Inc., TPG Advisors VI, Inc., TPG Biotechnology GenPar IV, L.P., TPG GenPar VI, L.P., TPG Sky L.P., TPG Sky CoInvest L.P., Park Street Investors L.P., and Sharad Mansukani: Josh Greenblatt, Esq. Jeffrey R. Goldfine, Esq. Vanessa Di Feo, Esq. KIRKLAND & ELLIS LLP 601 Lexington Avenue New York, NY 10022 E-mail: josh.greenblatt@kirkland.com jeffrey.goldfine@kirkland.com vanessa.difeo@kirkland.com Counsel for Defendants Paul V. Campanelli, Thomas J. Haughey, Terrance Coughlin, Patrick LePore, Barry J. Gilman, Joseph A. Barbarite, Chad M. Gassert, Stephen O. Montalto, Antonio Pera, Muthusamy Shanmugam, Stephen Carey, Suketu P. Sanghvi, Lawrence M. Brown, Phillip J. Brancazio, Diane Montalto, Keith A. Kucinski, Michael J. Altamuro, Martin L. Wilson, John L. Ameres, Hyun Soo Hong, and Anh Tran-Cao: James E. Brandt, Esq. Jason C. Hegt, Esq. Jooyoung Yeu, Esq. Sarah R. Burack, Esq. LATHAM & WATKINS LLP 1271 Avenue of the Americas New York, NY 10020 E-mail: james.brandt@lw.com jason.hegt@lw.com jooyoung.yeu@lw.com sarah.burack@lw.com About Endo International PLC Endo International plc (OTC: ENDPQ) is a generics and branded pharmaceutical company. It develops, manufactures, and sells branded and generic products to customers in a wide range of medical fields, including endocrinology, orthopedics, urology, oncology, neurology, and other specialty areas. On the Web: http://www.endo.com/ Endo International and certain of its subsidiaries initiated voluntary prearranged Chapter 11 proceedings (Bankr. S.D.N.Y. Lead Case No. 22-22549) on Aug. 16, 2022. On May 25, 2023, Operand Pharmaceuticals Holdco II Limited and Operand Pharmaceuticals Holdco III Limited each filed a voluntary Chapter 11 petition also in the U.S. Bankruptcy Court for the Southern District of New York. On May 31, 2023, Operand Pharmaceuticals II Limited and Operand Pharmaceutical III Limited each filed a voluntary Chapter 11 petition also in the Southern District of New York. The Company's cases are jointly administered before the Honorable James L. Garrity, Jr. Endo initiated the financial restructuring process after reaching an agreement with a group of its senior debtholders on a transaction that would substantially reduce outstanding debt, address remaining opioid and other litigation-related claims, and best position Endo for the future. This would allow the Company to advance its ongoing business transformation from a strengthened financial position to create compelling value for its stakeholders over the long term. Endo's India-based entities are not part of the Chapter 11 proceedings. The Company has filed recognition proceedings in Canada and expects to file similar proceedings in the United Kingdom and Australia. The Debtors tapped Skadden, Arps, Slate, Meagher & Flom, LLP as legal counsel; PJT Partners, LP as investment banker; and Alvarez & Marsal North America, LLC as financial advisor. Kroll Restructuring Administration, LLC, is the claims agent and administrative advisor. A Website dedicated to the restructuring is at http://www.endotomorrow.com/ Roger Frankel, the legal representative for future claimants in the Chapter 11 cases, tapped Frankel Wyron LLP and Young Conaway Stargatt & Taylor, LLP, as legal counsels, and Ducera Partners, LLC, as investment banker. Following confirmation of Endo's bankruptcy-exit plan, Matthew Dundon was appointed trustee of the Endo GUC Trust, which was created for the benefit of opioid victims and other Endo unsecured creditors. ENVERIC BIOSCIENCES: Board Adopts New RSU and RSA Award Agreements ------------------------------------------------------------------ Enveric Biosciences, Inc. announced in a regulatory filing that the Compensation Committee recommended, and the Board of Directors approved and adopted: (i) a new form of Restricted Stock Unit Award Agreement and (ii) a new form of Restricted Stock Award Agreement, in each case under the Company's 2020 Long-Term Incentive Plan, as amended. The RSU Agreement provides for time-based vesting over a four-year period, with 25% of the award vesting on the first anniversary of the grant date and the remaining portion vesting in substantially equal monthly installments thereafter, and generally provides that vested units are settled upon a change in control or termination of service, subject to compliance with Section 409A of the Internal Revenue Code. The RSU Agreement also includes provisions providing for full vesting upon a change in control, limited accelerated vesting upon certain qualifying terminations, forfeiture of unvested units upon termination of service, and, in the case of a termination for cause, forfeiture of vested but unsettled units. The RSA Agreement generally provides for time-based vesting on a specified vesting date, subject to continued service through such date, with unvested shares forfeited upon a termination of service prior to vesting, and includes customary restrictions on transfer and provisions regarding stockholder rights prior to vesting. The Award Agreements will be used in connection with future grants of restricted stock units and restricted stock to the Company's named executive officers and directors, as applicable. Full text copies of the forms of RSU Agreement and RSA Agreement are available at https://tinyurl.com/2jrjvs5u and https://tinyurl.com/374cc3wb, respectively. The full text copy of the Plan is available at https://tinyurl.com/bddv4rzz About Enveric Biosciences Enveric Biosciences, Inc., develops small-molecule neuroplastogenic therapeutics for psychiatric and neurological disorders. The company's lead program, EB-003, is designed to selectively target 5-HT2A and 5-HT1B receptors with the goal of providing fast-acting, durable antidepressant and anxiolytic effects without hallucinogenic properties. EB-003 has completed short-term dose-range toxicology studies and is advancing toward IND-enabling, GLP-compliant safety pharmacology and longer-term toxicology trials, forming the basis for potential clinical development in depression and other neuropsychiatric indications. The Cambridge, Massachusetts-based biotech company had total assets of $5.09 million, current liabilities of $918,400, and shareholders' equity of $4.18 million at year-end Dec. 31, 2025. CBIZ CPAs P.C., issued a "going concern" qualification in its report dated March 27, 2026, citing the company's significant losses and need to raise additional funds to meet its obligations and sustain its operations, which conditions raise substantial doubt about the company's ability to continue as a going concern. ENVERIC BIOSCIENCES: Four of Five Proposals Pass at Annual Meeting ------------------------------------------------------------------ Enveric Biosciences, Inc. held its 2026 Annual Meeting of Stockholders. A total of 991,828 shares of the Company's common stock were present in person or represented by proxy at the 2026 Annual Meeting, which represented 52.54% of the outstanding shares of common stock entitled to vote at the 2026 Annual Meeting and constituted a quorum for the transaction of business. Holders of the Company's common stock were entitled to one vote per share of common stock held as of the close of business on March 30, 2026, the record date for the 2026 Annual Meeting. The matters submitted for a vote and the related results are set forth below. At the 2026 Annual Meeting, each of the five matters were presented for a vote to the stockholders: * The election of six directors, to serve until the Company's 2027 annual meeting of stockholders or until their successors are duly elected and qualified; * An advisory vote to approve the compensation of the Company's named executive officers, as disclosed in the proxy statement; * The extension of the approval of the Company's Board to amend the Company's Amended and Restated Certificate of Incorporation, as amended to, at the discretion of the Board, effect a reverse stock split with respect to the Company's issued and outstanding common stock, including stock held by the Company as treasury shares, at a ratio of 1-for-5 to 1-for-15, with the ratio within such range to be determined at the discretion of the Board; * The extension of the approval of the Board to amend the Charter to, at the discretion of the Board, increase the authorized number of shares of common stock from 100,000,000 to 5,000,000,000 shares; and * The ratification of the appointment of CBIZ CPAs P.C. as the Company's independent registered public accounting firm for the fiscal year ending December 31, 2026. The proposal to approve the adjournment of the 2026 Annual Meeting was not presented for a vote. The final vote results for each of these five matters are: 1. The votes cast on the Election of Directors were as follows: a. Michael Webb * Votes For: 564,143 * Withheld: 37,590 * Broker Non-Votes: 390,095 b. George Kegler * Votes For: 531,522 * Withheld: 70,211 * Broker Non-Votes: 390,095 c. Frank Pasqualone * Votes For: 531,937 * Withheld: 69,796 * Broker Non-Votes: 390,095 d. Marcus Schabacker, M.D., Ph.D. * Votes For: 566,038 * Withheld: 35,695 * Broker Non-Votes: 390,095 e. Joseph Tucker, Ph.D. * Votes For: 565,386 * Withheld: 36,347 * Broker Non-Votes: 390,095 f. Sheila DeWitt, Ph.D. * Votes For: 565,534 * Withheld: 36,199 * Broker Non-Votes: 390,095 2. The votes cast on the advisory vote for the Say-on-Pay Proposal were as follows: * Votes For: 569,552 * Votes Against: 26,884 * Abstentions: 5,297 * Broker Non-Votes: 390,095 3. The votes cast on the Reverse Stock Split Proposal were as follows: * Votes For: 793,344 * Votes Against: 190,175 * Abstentions: 8,309 4. The votes cast on the Authorized Stock Increase Proposal were as follows: * Votes For: 427,158 * Votes Against: 555,147 * Abstentions: 9,523 5. The votes cast on the Auditor Ratification Proposal were as follows: * Votes For: 960,728 * Votes Against: 19,347 * Abstentions: 11,753 The results reported above are final voting results. No other matters were considered or voted upon at the meeting. About Enveric Biosciences Enveric Biosciences, Inc., develops small-molecule neuroplastogenic therapeutics for psychiatric and neurological disorders. The company's lead program, EB-003, is designed to selectively target 5-HT2A and 5-HT1B receptors with the goal of providing fast-acting, durable antidepressant and anxiolytic effects without hallucinogenic properties. EB-003 has completed short-term dose-range toxicology studies and is advancing toward IND-enabling, GLP-compliant safety pharmacology and longer-term toxicology trials, forming the basis for potential clinical development in depression and other neuropsychiatric indications. The Cambridge, Massachusetts-based biotech company had total assets of $5.09 million, current liabilities of $918,400, and shareholders' equity of $4.18 million at year-end Dec. 31, 2025. CBIZ CPAs P.C., issued a "going concern" qualification in its report dated March 27, 2026, citing the company's significant losses and need to raise additional funds to meet its obligations and sustain its operations, which conditions raise substantial doubt about the company's ability to continue as a going concern. EXCELL COMMUNICATIONS: Unsecureds Will Get 7% to 8% in Plan ----------------------------------------------------------- Excell Communications, Inc. and affiliates filed with the U.S. Bankruptcy Court for the Eastern District of New York an Amended Disclosure Statement for Second Amended Plan of Reorganization dated May 27, 2026. Excell is a corporation organized and existing under the laws of Alabama. Founded in 2008, Excell originally was a small regional telecommunications contractor with offices in Birmingham, Alabama. Merchants Fleet Post-Petition Financing Claim. Merchants Automotive Group, Inc. and Principle Merchants Leasing, Ltd. (collectively, "Merchants Fleet") and the Debtors are parties to a post-petition agreement pursuant to which Merchants Fleet provides certain financing to the Debtors (the "Merchants Financing Agreement"), which was approved by the Court's Final Order Approving Stipulation Authorizing The Debtors To Obtain Postpetition Secured Financing From Merchants Fleet (the "Merchants Financing Order"). The Plan provides for the restructuring of the Debtors' balance sheet by the elimination of a significant amount of unsecured debt, paying priority and secured claims of taxing authorities over the life of the Plan and reducing the Debtors’ expenses. The Plan provides for a lump sum payment to fund distributions to Allowed Claims of General Unsecured Creditors in the amount of $1,300,000. The Distributions will be funded by the New Value Contribution, as well as by available Cash from the Debtors' business operations and proceeds from any other Assets available to fund the Plan. GGTF will make the New Value Contribution as follows: on the Effective Date, GGTF will contribute an amount up to an aggregate of $1,300,000.00 to fund Distributions to holders of Allowed Claims in Class 3, and consent to the conversion of the DIP Loans to the DIP Term Out Facility as agreed to by GGTF as of the Effective Date in order to fund the Distributions to Allowed Claims in Class. The Debtors, the Plan Proponent and the Creditors Committee engaged in substantial negotiations over the value and timing of the New Value Contribution. The Debtors assets include receivables, limited vehicles and related equipment, and inventory, primarily composed of fiber optic cable and related equipment. (the "Fiber Assets"). The Debtors believe that the treatment of General Unsecured Creditors under the Plan provides creditors with substantially greater value compared to what they would receive in liquidation under chapter 7 of the Bankruptcy Code. The respective Claims Registers reflect seventy-eight filed claims, in the total amount of approximately $57.3 Million. Of those claims, there are approximately $1.7 Million Priority Claims, $3.1 Million Secured Claims and $35.9 General Unsecured Claims. The respective Claims Registers reflect seventy-eight filed claims, in the total amount of approximately $57.3 Million. Of those claims, there are approximately $1.7 Million Priority Claims, $3.1 Million Secured Claims and $35.9 General Unsecured Claims. The remaining approximately $16.6 Million in filed Claims consists of approximately $13 Million in contingent insurance and litigation claims subject to payment solely by available insurance coverage, approximately $4.9 Million in critical vendor claims, which were paid in full during the pendency of the Bankruptcy Cases pursuant to the Interim and Final Critical Vendor Orders, and approximately $2.1 Million in General Unsecured Claims for which the Debtors dispute liability, all of which are or will be subject to the Claims Objection. The Debtors filed the Claims Objection and may file additional objections prior to the Effective Date of the Plan. Also, the Claims Administrator reserved the right to object to additional Claims. The Debtors estimate that the total value of allowed General Unsecured Claims will be approximately $16.6-19 Million, and that the estimated pro rata distribution to Class 3 General Unsecured Creditors will be approximately 7 to 8%. Class 3 consists of the Claims of non-priority unsecured creditors. The holders of Allowed Class 3 Claims will receive their ProRata Share of the General Unsecured Claims Cash Distribution, with the initial Distribution to be made on or as soon as reasonably practicable after the Effective Date. Class 3 is Impaired under the Plan. Class 4 consists of the holder of the Equity Interests in the Debtors, GGTF. The holder of Class 4 Interests will receive no Distributions under the Plan on account of its Equity Interest in the Debtors. GGTF will retain its Equity Interest in the Debtors in consideration for making the New Value Contribution. The Plan will be funded by the New Value Contribution deposited on the Effective Date for the benefit of unsecured creditors, from Cash on hand and revenue generated from business operations, as well as the proceeds from any other Assets available to fund the Plan. On the Effective Date, the lump sum payment in the amount of $1,300,000 from the New Value Contribution shall be deposited into a segregated account designated by and under the control of the Plan Administrator (the "GUC Distribution Account"), separate and apart from the Reorganized Debtor's operating accounts, for the exclusive benefit of holders of Allowed General Unsecured Claims. On the Effective Date, or as soon as reasonably practicable thereafter, the Reorganized Debtor may take all actions and execute and deliver any and all documents as may be necessary or appropriate to affect any transaction described in, approved by, contemplated by, or necessary to effectuate the Plan, including the transactions contemplated by the New Value Contribution, and the Confirmation Order shall constitute approval thereof by the Court. A full-text copy of the Amended Disclosure Statement dated May 27, 2026 is available at https://urlcurt.com/u?l=hAyvkc from PacerMonitor.com at no charge. Counsel to the Debtors: Michael Amato, Esq. FORCHELLI DEEGAN TERRANA LLP 333 Earle Ovington Blvd., Suite 1010 Uniondale, NY 11553 Tel: (516) 812-6291 E-mail: mamato@forchellilaw.com About Excell Communications Excell Communications, Inc., filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. E.D.N.Y. Case No. 25-71444) on April 14, 2025. Judge Louis A Scarcella presides over the case. Michael S Amato, at Ruskin Moscou Faltisckek PC, is the Debtor's counsel. FALLS MEDICAL: Unsecured Creditors to Split $77K in Plan -------------------------------------------------------- Falls Medical Aesthetics PLLC, filed with the U.S. Bankruptcy Court for the District of Ohio a First Amended Plan of Reorganization dated May 26, 2026. The Debtor was organized as an Idaho limited liability in 2016. The principal owner is Dr. Kierstin Nebeker. The primary office in Idaho Falls, Idaho. Falls Medical also had a previous location in Ketchum, Idaho. Dr. Nebeker had serious health problems that led to her being unable to work much of 2025. And, the Ketchum location was forced to close when the provider in that location left. Those two factors led to the bankruptcy filing. The Plan is built around the idea of solely focusing on the Idaho Falls location and Dr. Nebeker being able to work more and more. The Plan pays all administrative and priority creditors in full. Secured creditors are paid the value of their collateral. Class UC1 consists of General Unsecured Claims. All other claims filed shall be treated as unsecured claims, including the portions deemed unsecured in the previous classes, and paid pro-rata from the following listed payments on the dates specified: Date of Disbursement Amount Paid to Class -------------------- -------------------- July 31, 2026 $1,000.00 January 31, 2027 $1,000.00 July 31, 2027 $2,500.00 January 31, 2028 $2,500.00 July 31, 2028 $5,000.00 January 31, 2029 $10,000.00 July 31, 2029 $10,000.00 January 31, 2030 $15,000.00 July 31, 2030 $15,000.00 January 31, 2031 $15,000.00 TOTAL $77,000.00 The Debtor will make payments based on operations. Pursuant to the Confirmation Order and upon Confirmation of this Plan, the Debtor shall be authorized to take all necessary steps, and perform all necessary acts, to consummate the terms and conditions of this Plan, in accordance with its terms. On or before the Effective Date, Debtor may file with the Bankruptcy Court such agreements and other documents as may be necessary or appropriate to effectuate or further evidence the terms and conditions of this Plan and the other agreements referred to herein. A full-text copy of the First Amended Plan dated May 26, 2026 is available at https://urlcurt.com/u?l=WbHQ73 from PacerMonitor.com at no charge. Counsel to the Debtor: Steven L. Taggart, Esq. Olsen Taggart PLLC 1449 E. 17th Street, Ste A Idaho Falls, ID 83404 Tel: (208) 552-6442 Email: staggart@olsontaggart.com About Falls Medical Aesthetics Falls Medical Aesthetics, PLLC, doing business as Idaho Skin Care, is a medical dermatology and aesthetic services provider based in Idaho Falls, Idaho. The practice offers a range of clinical and cosmetic dermatology treatments -- including skin cancer care, acne management, surgical dermatology, injectables, laser procedures, and other skin health services -- under the leadership of board-certified providers. Falls Medical Aesthetics, PLLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Idaho Case No. 26-40001) on January 2, 2026. In its petition, the Debtor reports estimated assets of $100,001 to $1,000,000 and estimated liabilities of $1,000,001 to $10,000,000. The case is assigned to the Honorable Bankruptcy Judge Brent R. Wilson. The Debtor is represented by Steven Taggart, of Olsen Taggart, PLLC. FAMES TRANSPORT: Seeks Chapter 7 Bankruptcy in California --------------------------------------------------------- On June 3, 2026, Fames Transport, Inc. filed for Chapter 7 protection in the U.S. Bankruptcy Court for the Central District of California. According to court filings, the Debtor reports between $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 July 7, 2026 at 11:00 AM via Zoom - Whitmore: Meeting ID 835 961 7496, Passcode 6118401654, Phone 1 909 498 7849. About Fames Transport, Inc. Fames Transport, Inc. is a transportation and logistics company engaged in commercial freight services. Fames Transport, Inc. sought relief under Chapter 7 of the U.S. Bankruptcy Code (Bankr. Case No. 26-14551) on June 3, 2026. In its petition, the Debtor reports estimated assets of $0 to $100,000 and estimated liabilities of $1 million to $10 million. The Honorable Bankruptcy Judge Scott H. Yun handles the case. The Debtor is represented by Sergio A. Rodriguez, Esq., of SRG Law Group, APLC. FENG TAI: Case Summary & Seven Unsecured Creditors -------------------------------------------------- Debtor: Feng Tai LLC 43-18 Union Street, #7B Flushing, NY 1135 Business Description: Feng Tai LLC is a real estate company that owns a newly built 22-unit residential building at 43-18 Union Street in Flushing, New York, with an estimated value of $9.5 million. Chapter 11 Petition Date: June 1, 2026 Court: United States Bankruptcy Court Eastern District of New York Case No.: 26-42657 Judge: Hon. Jil Mazer-Marino Debtor's Counsel: William Zhou, Esq. BILL ZOU & ASSOCIATES PLLC 136-20 38 Avenue, Suite 10D Flushing NY 11354 Tel: 718-661-9562 E-mail: xfzou@aol.com Total Assets: $9,537,743 Total Liabilities: $16,483,470 The petition was signed by Gwoli Chen as manager. 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/VMVEMYI/Feng_Tai_LLC__nyebke-26-42657__0001.0.pdf?mcid=tGE4TAMA FINCH PROPERTY: Matthew Brash Named Subchapter V Trustee -------------------------------------------------------- The U.S. Trustee for Region 11 appointed Matthew Brash of Newpoint Advisors Corporation as Subchapter V trustee for Finch Property Chicago, LLC. Mr. Brash will be paid an hourly fee of $450 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Brash declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Matthew Brash Newpoint Advisors Corporation 655 Deerfield Road, Suite 100-311 Deerfield, IL 60015 Tel: (847) 404-7845 About Finch Property Chicago LLC Finch Property Chicago, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill., Case No. 26-08890) on May 25, 2026, with $100,001 to $500,000 in assets and liabilities. Judge Nancy A. Peterman presides over the case. Penelope N. Bach, Esq. at Bach Law Offices represents the Debtor as legal counsel. FIRST BRANDS: Aequum Faces Creditor Fraud Suit ---------------------------------------------- Steven Church of Bloomberg News reports that unsecured creditors of bankrupt auto-parts supplier First Brands are seeking authority to bring claims against Aequum Capital Financial II, asserting that the lender enabled a fraudulent scheme by failing to investigate suspicious transactions connected to company insiders. The request was detailed in court papers made public this week. The committee alleges that Aequum provided a $44 million loan to an off-balance-sheet special purpose vehicle that later transferred funds to a business linked to First Brands founder Patrick James. According to the filing, the lender either knew or should have known that the structure of the transaction warranted heightened scrutiny, particularly given the relationships among the parties involved, the report relays. The dispute comes as Patrick and Edward James prepare to defend themselves against criminal fraud charges arising from the downfall of First Brands. Both brothers have entered not-guilty pleas and deny the allegations. The bankruptcy proceedings have focused on tracing company funds and identifying potential sources of recovery for creditors, according to Bloomberg. Creditors argue that Aequum ignored numerous warning signs and benefited from transactions that allegedly diverted value away from the company. They are seeking permission to pursue claims designed to recover those proceeds and increase distributions available to unsecured creditors in the Chapter 11 case. 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. FIRST BRANDS: Files Revised Chapter 11 Plan to Avert Liquidation ---------------------------------------------------------------- Alex Wittenberg of Law360 Bankruptcy Authority reports that First Brands Group has unveiled a new Chapter 11 restructuring plan after a Texas bankruptcy judge declined to authorize voting on its previous proposal earlier this month. The automotive parts maker said the revised plan incorporates modifications designed to address issues raised by the court and creditor groups. Management continues to pursue a reorganization that would keep the business operating as a going concern. According to court filings, the updated plan revises key restructuring terms and seeks broader support from stakeholders. The company believes the proposal offers a clearer path toward confirmation while balancing the interests of secured lenders, unsecured creditors, and other constituencies. First Brands emphasized that preserving enterprise value remains a central objective. The debtor manufactures and distributes a wide range of automotive replacement products used throughout the aftermarket industry. As the bankruptcy case progresses, First Brands hopes the new plan will secure sufficient support to move toward confirmation and avoid the uncertainty associated with a liquidation scenario, the report states. 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. FIRST EMANUEL: Seeks to Hire Susan J Vaughn CPA as Accountant ------------------------------------------------------------- First Emanuel Baptist Church seeks approval from the U.S. Bankruptcy Court for the Eastern District of Louisiana to employ Susan J Vaughn, CPA as accountant. The firm will render these services: a) prepare future tax filings for a non-profit and curing any existing filings, should such exist; b) work with the Debtor to maintain tax exempt status; c) work with the Debtor to prepare monthly operating reports; d) work with the Debtor to prepare documents for the plan; and e) work with the Debtor for general accounting advice and general accounting entries. The anticipated compensation is $125 per hour. The accountant is a "disinterested person" as that term is defined in section 101(14) of the Bankruptcy Code, as modified by section 1107(b) of the Bankruptcy Code, according to court filings. The accountant can be reached at: Susan J. Vaughn, CPA 5089 Basinview Drive New Orleans, LA 70126 About First Emanuel Baptist Church First Emanuel Baptist Church is a Non-Profit Religious Corporation domiciled in Louisiana. The Debtor filed Chapter 11 petition (Bankr. E.D. La. Case No. 24-12026) on Oct. 16, 2024, listing between $1 million and $10 million in both assets and liabilities. Judge Meredith S. Grabill presides over the case. Douglas Draper, Esq., at Heller, Draper & Horn, LLC represents the Debtor as legal counsel. FLEXSHOPPER INC: U.S. Trustee Objects to Chapter 11 Plan -------------------------------------------------------- Alex Wittenberg of Law360 Bankruptcy Authority reports that Federal bankruptcy watchdogs have challenged FlexShopper Inc.'s Chapter 11 plan, telling a Delaware bankruptcy court that the rent-to-own company's proposed third-party releases violate recent Supreme Court guidance restricting nonconsensual protections for nondebtors. The U.S. Trustee's Office argued that creditors cannot be compelled to give up potential claims against third parties through the confirmation process. FlexShopper operates a lease-purchase platform that enables consumers to acquire electronics, furniture, appliances, and other goods through installment-based ownership arrangements. After seeking Chapter 11 protection, the company negotiated a restructuring plan intended to reduce liabilities and preserve business operations. The proposed plan includes release and exculpation provisions that have now drawn objections from the government, the report relays. The U.S. Trustee asked the court to reject or modify the contested provisions, asserting that they conflict with the Supreme Court's 2024 ruling on third-party releases. The objection could require FlexShopper to amend its plan before seeking confirmation, potentially affecting the timeline for its reorganization efforts, according to Law360. 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. FTX TRADING: Seeks Presidential Pardon for Fraud Conviction ----------------------------------------------------------- Dorothy Atkins of Law360 Bankruptcy Authority reports that former FTX chief executive Sam Bankman-Fried is seeking a pardon from Donald Trump as he serves a 25-year prison term stemming from his fraud conviction. The request follows his conviction on charges related to the misuse of customer funds entrusted to FTX. Bankman-Fried has continued to dispute the government's characterization of his conduct, arguing that business failures and market conditions played a significant role in the exchange's collapse. His legal team has pursued appeals and other post-conviction remedies while seeking relief from the sentence imposed by the court, the report states. The FTX bankruptcy remains one of the most significant insolvency cases in the digital asset sector. Authorities alleged that customer assets were improperly transferred and used in ways that concealed the company's financial condition, ultimately contributing to its dramatic failure, according to Law360. About FTX Trading Ltd. FTX is the world's second-largest cryptocurrency firm. FTX is a cryptocurrency exchange built by traders, for traders. FTX offers innovative products including industry-first derivatives, options, volatility products and leveraged tokens. Then CEO and co-founder Sam Bankman-Fried said Nov. 10, 2022, that FTX paused customer withdrawals after it was hit with roughly $5 billion worth of withdrawal requests. Faced with liquidity issues, FTX on Nov. 9 struck a deal to sell itself to its giant rival Binance, but Binance walked away from the deal amid reports on FTX regarding mishandled customer funds and alleged US agency investigations. At 4:30 a.m. on Nov. 11, Bankman-Fried ultimately agreed to step aside, and restructuring vet John J. Ray III was quickly named new CEO. FTX Trading Ltd (d/b/a FTX.com), West Realm Shires Services Inc. (d/b/a FTX US), Alameda Research Ltd. and certain affiliated companies then commenced Chapter 11 proceedings (Bankr. D. Del. Lead Case No. 22-11068) on an emergency basis on Nov. 11, 2022. Additional entities sought Chapter 11 protection on Nov. 14, 2022. FTX Trading and its affiliates each listed $10 billion to $50 million in assets and liabilities, making FTX the biggest bankruptcy filer in the US this year. According to Reuters, SBF shared a document with investors on Nov. 10 showing FTX had $13.86 billion in liabilities and $14.6 billion in assets. However, only $900 million of those assets were liquid, leading to the cash crunch that ended with the company filing for bankruptcy. The Hon. John T. Dorsey is the case judge. The Debtors tapped Sullivan & Cromwell, LLP as bankruptcy counsel; Landis Rath & Cobb, LLP as local counsel; and Alvarez & Marsal North America, LLC as financial advisor. Kroll is the claims agent, maintaining the page https://cases.ra.kroll.com/FTX/Home-Index The official committee of unsecured creditors tapped Paul Hastings as bankruptcy counsel; Young Conaway Stargatt & Taylor, LLP as Delaware and conflicts counsel; FTI Consulting, Inc. as financial advisor; and Jefferies, LLC as investment banker. Montgomery McCracken Walker & Rhoads LLP, led by partners Gregory T. Donilon, Edward L. Schnitzer, and David M. Banker, is representing Sam Bankman-Fried in the Chapter 11 cases. White collar crime specialist Mark S. Cohen has reportedly been hired to represent SBF in litigation. Lawyers at Paul Weiss previously represented SBF but later renounced representing the entrepreneur due to a conflict of interest. GEORGE AVE: Joli Lofstedt Named Subchapter V Trustee ---------------------------------------------------- The Acting U.S. Trustee for Region 19 appointed Joli Lofstedt, Esq., as Subchapter V trustee for George Ave 2 LLC. Ms. Lofstedt, a practicing attorney in Louisville, Colo., will be paid an hourly fee of $400 for her services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Ms. Lofstedt declared that she is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Joli A. Lofstedt, Esq. P.O. Box 270561 Louisville, CO 80027 Phone: (303) 476-6915 Fax: (303) 604-2964 Email: joli@jaltrustee.com About George Ave 2 LLC George Ave 2 LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Colo. Case No. 26-13754) on May 27, 2026, with $1,000,001 to $10 million in assets and liabilities. Judge Thomas B. Mcnamara presides over the case. David Wadsworth, Esq. at Wadsworth Garber Warner Conrardy, P.C. represents the Debtor as legal counsel. GOLD MOUNTAIN: Seeks Chapter 11 Bankruptcy in California -------------------------------------------------------- On June 3, 2026, Gold Mountain Simons Way LP filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Northern District of California. According to court filings, the Debtor reports between $10 million and $50 million in debt owed to between 1 and 49 creditors. About Gold Mountain Simons Way LP Gold Mountain Simons Way LP is a real estate investment and property-holding partnership engaged in the ownership, development, and management of commercial and residential assets. Gold Mountain Simons Way LP sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-30487) on June 3, 2026. In its petition, the Debtor reports estimated assets of $10 million to $50 million and estimated liabilities of $10 million to $50 million. The Debtor is represented by Michael Jay Berger, Esq of Law Offices of Michael Jay Berger. GOODYEAR TIRE: Moody's Rates New Senior Unsecured Notes 'B2' ------------------------------------------------------------ Moody's Ratings assigned a B2 rating to the proposed senior unsecured notes of The Goodyear Tire & Rubber Company (Goodyear). Goodyear's B1 corporate family rating, B1-PD probability of default rating and B2 and B3 ratings of the company's existing senior unsecured notes are unchanged. Goodyear Europe B.V.'s backed senior unsecured notes rating of Ba3 is also unchanged. The outlook is stable for both Goodyear and Goodyear Europe B.V. Goodyear's speculative grade liquidity rating was unchanged at SGL-2. Goodyear intends to use the proceeds from the offering to repay the 4.875% notes at or prior to their maturity in March 2027. Any remaining net proceeds will be used for general corporate purposes. RATINGS RATIONALE Goodyear's ratings reflect the company's status as a top global manufacturer of aftermarket and original equipment tires, highlighted by a well-recognized brand name and leading market share position in North America. Goodyear maintains good scale and is experiencing solid growth in higher margin 18-inch and larger tires, especially in the consumer original equipment business. The recently completed multi-year Goodyear Forward initiative helped optimize Goodyear's portfolio of brands, deliver margin expansion and reduce financial leverage. In addition, management introduced more premium SKUs that should augment returns and the overall value proposition over the longer term. Based on vehicle production trends, Moody's believes there is opportunity across Goodyear's brands in the greater than 18 inch rim segment, but especially within the premium tier. However, in an increasingly challenging macroeconomic environment, consumers are trading down to non-Tier 1 tires where imports compete more intensely. Given this backdrop, Moody's expects Goodyear's EBIT margin in the mid-2% range and debt-to-EBITDA near 5x for 2026. The stable outlook reflects Moody's expectations for key credit metrics to improve in 2026 as prior margin improvement actions have largely been completed and additional savings are realized. The stable outlook also includes Moody's expectations that higher selling prices and a more favorable product mix will help offset negative impacts from tariffs. Sustained increases in raw material inputs would likely constrain margin and cash flow improvement. Liquidity will remain good even with sizable fluctuations in working capital. Goodyear's SGL-2 speculative grade liquidity rating reflects Moody's expectations that liquidity will remain good, supported by a solid cash position (at least $700 million) and significant availability under various revolving credit facilities. At March 31, 2026, cash was approximately $723 million and revolver availability was nearly $2.25 billion under the unrated $2.75 billion asset-based lending facility (ABL) that expires in 2030. In addition, Goodyear had EUR450 million of availability under the unrated EUR800 million revolving credit facility set to expire in 2028, bringing total revolving availability to over $2.7 billion. Moody's are expecting free cash flow to improve but again be negative in 2026 as flat earnings along with restructuring outlays will offset cost savings and lower interest expense. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATING The rating could be upgraded with continued improvement in Goodyear's EBIT margin to a level approaching 7%. Evidence of solidly positive and increasing free cash flow used for further debt reduction, such that debt-to-EBITDA falls toward 3.5x, or EBITDA-to-interest in excess of 6x could also result in a rating upgrade. Rating could be downgraded with the inability to improve the EBIT margin from the current level, free cash flow does not maintain a trajectory toward breakeven or debt-to-EBITDA increases above 5x. EBITDA-to-interest falling below 3x could also result in a downgrade. A downgrade could also arise from a meaningful decline in liquidity, including increased reliance on revolving credit facilities. The principal methodology used in this rating was Automotive Suppliers published in November 2025. The Goodyear Tire & Rubber Company is one of the world's leading manufacturers of tires, with a highly recognizable brand and operations across most regions. Goodyear has a broad global footprint with 49 manufacturing facilities in 19 countries, including the United States. The company operates through three operating segments representing its regional tire businesses: Americas; Europe, Middle East and Africa (EMEA) and Asia Pacific. Revenue for the twelve months ended March 31, 2026 was approximately $17.9 billion. GOSSAMER BIO: Closes Early Settlement on Convertible Note Exchange ------------------------------------------------------------------ Gossamer Bio, Inc., a biopharmaceutical company focused on the development and commercialization of seralutinib for the treatment of pulmonary arterial hypertension (PAH) and pulmonary hypertension associated with interstitial lung disease (PH-ILD), announced the early tender results of its previously announced exchange offer to exchange any and all of its 5.00% Convertible Senior Notes due 2027 for a pro rata portion of: (i) up to $72.0 million in aggregate principal amount of its new 7.50% Convertible Senior Secured First Lien Notes due 2030, (ii) up to 317,647,058 shares of its common stock or, in lieu of issuing shares of Common Stock to the extent such shares would cause any Eligible Holder to beneficially own greater than 9.99% of the outstanding Common Stock, prefunded warrants to purchase shares of Common Stock and (iii) with respect to Eligible Holders who tender prior to the Extended Early Tender Date (as defined below), warrants to purchase shares of Common Stock (the "Purchase Warrants" and, together with the New Convertible Notes and Equity Securities, the "Offered Securities"). As of 5:00 p.m., New York City time, on June 2, 2026, based on information provided by D.F. King & Co., Inc., which is acting as the exchange agent and information agent for the Exchange Offer, $181,052,000 in aggregate principal amount of Existing Convertible Notes was validly tendered in the Exchange Offer and not validly withdrawn and related consents to the Proposed Amendments were validly delivered and not validly withdrawn as of such time. The Early Tendered Notes represent 90.526% of the aggregate outstanding principal amount of Existing Convertible Notes. The Company and the Required Supporting Noteholders have agreed to amend the condition to the Exchange Offer that a minimum of 98% of the aggregate principal amount of Existing Convertible Notes be validly tendered to a minimum of 90.5% of the aggregate principal amount of Existing Convertible Notes be validly tendered. As a result, the Company also announced that it has elected to accept for exchange the Early Tendered Notes, with settlement expected to occur on June 4, 2026, the second business day immediately following the Extended Early Tender Date. The following table describes the early tender results at 5:00 p.m., New York City time, on June 2, 2026 (which is the Extended Early Tender Date of the Exchange Offer and the Consent Solicitation, as defined below) as well as the Offered Securities expected to be issued at the Early Settlement: Title: 5.00% Convertible Senior Notes due 2027 Aggregate Principal Amount of Existing Convertible Notes Tendered and Accepted: $181,052,000 Percentage of Existing Convertible Notes Tendered and Accepted: 90.526% Aggregate Principal Amount of New Convertible Notes Expected to be Issued: $65,174,000 Number of New Shares Expected to be Issued: 254,150,441 Number of Prefunded Warrants Expected to be Issued: 33,402,727 Number of Purchase Warrants Expected to be Issued: 135,789,000 In addition, holders of Early Tendered Notes accepted for exchange will receive accrued and unpaid interest on such Early Tendered Notes from, and including, the most recent interest payment date to, but excluding, the Early Settlement Date. By tendering Existing Convertible Notes in the Exchange Offer, each participating holder of Existing Convertible Notes is deemed to have agreed to substantially the same terms as those in the voting agreements entered into by the Supporting Noteholders, which includes having agreed with the Company that from and after the Early Settlement Date and until 5:00 p.m., New York City time, on June 5, 2026, which is the record date of the special meeting to be held following the Exchange Offer, it will not transfer, sell, exchange, assign or convey any legal or beneficial ownership interest in, or any right, title or interest therein (including any right or power to vote), or otherwise dispose of (whether by sale, liquidation, dissolution, dividend, distribution or otherwise) any New Shares, or enter into any contract, option, or other agreement with respect to any of the foregoing. Simultaneously with the Exchange Offer, the Company solicited consents from holders of the Existing Convertible Notes to adopt certain proposed amendments to the indenture governing the Existing Convertible Notes. The Proposed Amendments will eliminate substantially all of the restrictive covenants in the Existing Convertible Notes Indenture as well as certain events of default and related provisions applicable to the Existing Convertible Notes. As of 5:00 p.m., New York City time, on the Extended Early Tender Date, the Company had obtained sufficient consents to effectuate the Proposed Amendments. As a result, the Proposed Amendments will become effective upon the Early Settlement Date. For the remaining holders of Existing Convertible Notes that did not tender their Existing Convertible Notes prior to the Extended Early Tender Date, the Exchange Offer will expire at 5:00 p.m., New York City time, on June 16, 2026, unless extended or earlier terminated. The withdrawal deadline for the Exchange Offer and Consent Solicitation occurred at 5:00 p.m., New York City time, on June 1, 2026. As a result, and because the Withdrawal Deadline is not being extended, tenders of the Existing Convertible Notes and related consents may no longer be withdrawn, except in limited circumstances where additional withdrawal rights are required by law. If all conditions to the Exchange Offer have been or are concurrently satisfied or waived at or prior to the Expiration Deadline, unless extended, the Company will accept for exchange any remaining Existing Convertible Notes that were validly tendered in the Exchange Offer following the Extended Early Tender Date and at or prior to the Expiration Deadline, and not validly withdrawn at or prior to the Withdrawal Deadline. The Final Settlement Date, if any, will be promptly after the Expiration Deadline and is currently expected to occur on June 18, 2026, the second business day immediately following the Expiration Deadline. Except as set forth herein, all other terms and conditions of the Exchange Offer and Consent Solicitation remain unchanged as set forth in the offering memorandum relating to the Exchange Offer and Consent Solicitation. The Exchange Offer and Consent Solicitation may each be amended or extended at any time prior to the Expiration Deadline and for any reason, and may be terminated or withdrawn if any of the conditions of the Exchange Offer and Consent Solicitation are not satisfied or waived by the Expiration Deadline (as it may be extended), subject to applicable law and, if applicable, the terms of the Transaction Support Agreement. Subject to applicable law and, if applicable, the terms of the Transaction Support Agreement, the Company may extend the Expiration Deadline at any time. The New Convertible Notes, Purchase Warrants, Prefunded Warrants and shares of Common Stock offered in the Exchange Offer are being offered only to holders of Existing Convertible Notes that are "qualified institutional buyers" as defined in Rule 144A under the Securities Act. Cantor Fitzgerald & Co. is acting as exclusive capital markets and financial advisor, sole dealer manager and sole solicitation agent to the Company in connection with the Exchange Offer and Consent Solicitation. D.F. King & Co., Inc. is acting as the exchange agent and the information agent in connection with the Exchange Offer and Consent Solicitation. Questions concerning the Exchange Offer and Consent Solicitation may be directed to the Dealer Manager at 110 East 59th Street, New York, NY 10022, email: elcm@cantor.com or to the Exchange Agent at 28 Liberty Street, 53rd Floor, New York, NY 10005, tel: (866) 620-9554 or (646) 582-7109, e-mail: goss@dfking.com. The eligibility letter is available electronically at: www.dfking.com/goss. Eligible Holders should also consult their broker, dealer, commercial bank, trust company or other institution for assistance concerning the Exchange Offer and Consent Solicitation. Latham & Watkins LLP is acting as legal counsel to the Company in connection with the Exchange Offer and Consent Solicitation. Akin Gump Strauss Hauer & Feld LLP is acting as legal counsel to certain holders of Existing Convertible Notes that are party to the Transaction Support Agreement. DLA Piper LLP (US) is acting as legal counsel to the Dealer Manager for the Exchange Offer and Consent Solicitation. Only Eligible Holders may receive a copy of the Offering Memorandum and participate in the Exchange Offer and Consent Solicitation. None of the Company, the Dealer Manager, the Exchange Agent, any trustee or collateral agent for the Existing Convertible Notes or New Convertible Notes, or any affiliate of any of them makes any recommendation as to whether any Eligible Holder of Existing Convertible Notes should exchange or refrain from exchanging the principal amount of such Eligible Holder's Existing Convertible Notes in the Exchange Offer or submit consents in the Consent Solicitation. No one has been authorized by any of them to make such a recommendation. Eligible Holders must make their own decision whether to tender Existing Convertible Notes in the Exchange Offer or submit consents in the Consent Solicitation. No Eligible Holder may tender less than all of its Existing Convertible Notes in the Exchange Offer. The offering, issuance and sale of the Offered Securities has not been, and will not be, registered under the Securities Act of 1933, as amended, or any other securities laws. This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, the New Convertible Notes, shares of Common Stock (or Prefunded Warrants) and Purchase Warrants offered in the Exchange Offer, the shares of Common Stock issuable upon conversion of the New Convertible Notes, Prefunded Warrants or Purchase Warrants, the Existing Convertible Notes or any other securities, nor will there be any sale of such securities or any other securities, in any state or other jurisdiction in which such offer, sale or solicitation would be unlawful. About Gossamer Bio Gossamer Bio is a biopharmaceutical company focused on the development of treatments for pulmonary hypertension. Its goal is to be an industry leader in, and to enhance the lives of patients living with, pulmonary hypertension. GREENWAVE TECHNOLOGY: Nasdaq Flags Q1 2026 10-Q Delay in New Notice ------------------------------------------------------------------- Greenwave Technology Solutions, Inc. announced that the Company received an additional delinquency notification letter from the Listing Qualifications Department of The Nasdaq Stock Market LLC due to the Company's failure to timely file its Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2026. Neither the Notice nor the Company's non-compliance with Nasdaq Listing Rule 5250(c)(1) has an immediate effect on the listing or trading of the Company's securities on Nasdaq, which will continue to trade on The Nasdaq Capital Market under the symbol "GWAV." The Staff informed the Company that it has until June 22, 2026 to submit a plan to regain compliance with the Rule. If the Staff accepts the Company's plan to regain compliance, it may grant the Company an exception of up to 180 calendar days from the Annual Report's due date, or until October 12, 2026, to evidence compliance with the Rule. The Company continues to work diligently to complete and file the Late Filings with the SEC and thereby regain compliance with the Rule as soon as practicable. As previously disclosed, on April 22, 2026, the Company received a notice from the Listing Qualifications Department of Nasdaq regarding the Company's failure to timely file its Annual Report on Form 10-K for the fiscal year ended December 31, 2025 with the U.S. Securities and Exchange Commission. About Greenwave As an operator of 13 metal recycling facilities, Greenwave Technology Solutions, Inc. -- https://www.gwav.com/ -- supplies leading steel mills and industrial conglomerates with ferrous and non-ferrous metal. With steel being one of the most recycled materials worldwide, Greenwave supplies the raw metal utilized in critical infrastructure projects and U.S. warships vital to American national security interests. Headquartered in Chesapeake, Virgina, the Company has 167 employees with metal recycling operations across Virginia, North Carolina, and Ohio. New York, N.Y.-based RBSM LLP, the Company's auditor since 2020, issued a "going concern" qualification in its report dated April 15, 2025, attached to the Company's Annual Report on Form 10-K for the year ended December 31, 2024, citing that the Company has net loss, has generated negative cash flows from operating activities, and has an accumulated deficit, which raise substantial doubt about the Company's ability to continue as a going concern. The Company has not yet filed its Annual Report on Form 10-K for the year ended December 31, 2025 and its Quarterly Report on Form 10-Q for the period ended March 31, 2026. HAWTHORNE RACE: Hilco Sets June 26 Deadline for Chapter 11 Sale --------------------------------------------------------------- The Hilco Global Real Estate Practice, in cooperation with Province LLC, announces its engagement to help secure a recapitalization going-concern buyer or investor for the real estate of Hawthorne Race Course as part of its Chapter 11 restructuring proceedings. Qualified bids are being accepted until June 26. The property is being marketed concurrently as a going-concern, with two integrated casino and racing development and licensing opportunities, as well as a prime industrial infill redevelopment sale potential given its prominent location and scale. Founded in 1891, Hawthorne Race Course is Illinois' oldest horse racing venue and has been a fixture of the Chicago racing scene for more than a century. Located in Stickney, Illinois, about 10 miles from downtown Chicago, this property spans 108± acres and includes 1.12 million± SF of buildings -- 364,421± SF grandstand and clubhouse, 760,024± SF of barns, residential and ancillary structures, and facilities capable of accommodating more than 2,100 horses. The offering presents buyers with a highly flexible acquisition opportunity. As an operating gaming and racing platform, Hawthorne Race Course holds valuable Illinois gaming and racing entitlements, including rights tied to a potential casino development with up to 2,000 authorized gaming positions, an active master sports wagering license, Illinois' sole harness racing organizational license and an established off-track betting network with 10 active locations. The property currently supports both Thoroughbred and harness racing operations, pari-mutuel wagering, food and beverage operations and simulcast betting. Illinois continues to rank among the nation's leading gaming markets, with statewide casino adjusted gross receipts reaching approximately $1.9 billion in 2025, while Illinois sportsbooks handled more than $15.6 billion in wagers during the year, representing approximately 11.7% year-over-year growth and making Illinois one of the largest legal sports wagering markets in the United States. Hawthorne's existing customer base, gaming entitlements and strategic location within the Chicago metropolitan area position the property to capitalize on continued growth across casino gaming, sports wagering and entertainment demand. Due to the property's strategic location and ideal I-2, Heavy Industrial zoning, this site also supports strong consideration as a highly desirable industrial redevelopment opportunity. As one of the largest infill development parcels remaining anywhere in the Chicagoland area, the site combines hard-to-replicate contiguous land mass, immediate highway access and strategic proximity to major transportation infrastructure, supporting the opportunity to develop modern logistics, distribution, manufacturing or mixed industrial uses in a supply-constrained urban market. Situated along Cicero Avenue, the site is positioned just south of the Roosevelt/Cicero Industrial Corridor, an established manufacturing hub. The surrounding area is anchored by a range of distribution and logistics operators, supporting the property's industrial potential. Within a 10-mile radius, the property benefits from access to Chicago's main multimodal transportation networks, including Interstates 55, 290 and 294, Chicago Midway International Airport, BNSF Cicero Intermodal Facility, BNSF Corwith Intermodal Facility, Chicago Intermodal Terminal and the Chicago Sanitary and Ship Canal. Chicago continues to rank among the nation's leading business and logistics hubs, supported by a globally connected economy, extensive transportation infrastructure and one of the country's deepest labor pools. Ranked the No. 1 metro area in the United States for corporate expansion and relocation projects for 13 consecutive years, the larger Chicago-Naperville-Elgin-IN-WI (Chicagoland) area continues to attract institutional investment. This region is home to more than 9.3 million residents and a workforce of over 5 million people, with advanced manufacturing serving as a key industry supporting approximately 335,000 jobs. In May 2026, World Business Chicago released their State of the Economy 2025 report and projected Chicagoland's Gross Regional Product to reach approximately $929 billion in 2025, following an $886 billion in economic output recorded in 2024, making the city rank between the 23rd and 24th largest economies in the world. "The Chapter 11 process creates a unique opportunity for qualified buyers to acquire an iconic regional asset through a court-supervised transaction structure designed to maximize value and provide execution certainty," said Adam Rosen, partner at Province LLC. "Hawthorne combines a long-standing operating platform with valuable gaming entitlements and substantial real estate optionality, creating multiple paths for future investment and redevelopment." "Whether as an ongoing race course and casino or as an industrial redevelopment, few properties in the Chicagoland market combine Hawthorne's name recognition, scale, location and future potential," said Steve Madura, managing director of operations at Hilco Global. "With exceptional multi-modal logistics connectivity and strong surrounding market fundamentals, Hawthorne represents a truly rare opportunity to reimagine a landmark asset for its next chapter. Regardless of its future use, this sale is a once-in-a-generation chance to shape one of the region's most distinctive properties." The accelerated process is expected to attract interest from gaming operators, industrial developers, entertainment groups, institutional investors as well as adaptive reuse developers evaluating large-scale redevelopment opportunities within the Chicago market. The sale is subject to U.S. Bankruptcy Court Approval, Northern District of Illinois (Eastern Division), Petition No. 1:26-bk-03505, In re: Hawthorne Race Course, Inc. and in cooperation with Jeff Azuse, IL Broker, Lic. #471.011086. Qualified bids are due by June 26 and must be submitted on the Bid Procedures available for review and download from the Hilco Global real estate sales website and by contacting representatives of Province LLC. Interested buyers should reach out directly for requirements to participate in the sale process. For further information about the going-concern sale, please contact Province LLC, Adam Rosen at (702) 879-4937 or arosen@provincefirm.com, Rick Darnold at (702) 296-2632 or rdarnold@provincefirm.com or Mark Schlecker at (929) 505-0386 or mschlecker@provincefirm.com. For further information about the redevelopment sale, please contact: Steve Madura Phone: (847) 504-2478 Email: madura@hilcoglobal.com Jamie Cote Phone: (847) 418-2187 Email: jcote@hilcoglobal.com Joel Schneider at Phone: (847) 418-2723 Email: jschneider@hilcoglobal.com Henry Nash Phone: (847) 313-4796 Email: hnash@hilcoglobal.com. To obtain access to due diligence documents, please visit HilcoRealEstateSales.com or call (855) 755-2300. About Hilco Global Hilco Global, a subsidiary of ORIX Corporation USA, is a diversified financial services company that delivers integrated professional services and capital solutions that help clients maximize value and drive performance across the retail, commercial and industrial, real estate, manufacturing, brand and intellectual property sectors and more. Hilco Global provides a range of customized solutions to healthy, stressed and distressed companies to resolve complex situations and enhance long-term enterprise value. Hilco Global works to deliver the best possible result by aligning interests with clients and providing strategic advice and, in many instances, the capital required to complete the deal. Hilco Global is based in Northbrook, Illinois and has more than 810 professionals operating on four continents. Visit www.hilcoglobal.com. About Hawthorne Race Course, Inc. Hawthorne Race Course Inc. operates a historic racetrack that provides Thoroughbred and Standardbred racing events along with off-track betting throughout Chicago. Hawthorne Race Course Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 26-03505) on February 27, 2026. In its petition, the Debtor reports assets ranging from $50 million to $100 million and liabilities between $100 million and $500 million. Honorable Bankruptcy Judge Timothy A. Barnes handles the case. The Debtor is represented by Barry A. Chatz, Esq. of Saul Ewing Arnstein & Lehr LLP. Getzler Henrich & Associates serves as Financial Advisor, Omni Agent Solutions as Claims Agent. HIDDEN VALLEY: Hires Sherrard Roe Voigt & Harbison PLC as Counsel ----------------------------------------------------------------- Hidden Valley Lakes Trustees, Inc. seeks approval from the U.S. Bankruptcy Court for the Middle District of Tennessee to employ Sherrard Roe Voigt & Harbison, PLC as counsel. The firm will provide these services: (a) render legal advice with respect to the rights, powers, and duties of Debtor in the management of its property; (b) prepare all necessary pleadings, orders and reports with respect to this proceeding and to render all other legal services as may be necessary or proper; (c) assist and counsel Debtor in the preparation, presentation, and confirmation of its Plan of Reorganization; and (d) perform all other legal services that may be necessary and appropriate in the general administration of the estate. Sherrard Roe will be compensated on an hourly basis, with rates ranging from $410 to $1,060 for attorneys and $300 to $390 for paralegals. Attorneys Michael G. Abelow and Brettson J. Bauer will be paid hourly rates of $720 and $460, respectively. Sherrard Roe Voigt & Harbison, PLC 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 G. Abelow, Esq. Brettson J. Bauer, Esq. SHERRARD ROE VOIGT & HARBISON, PLC 1600 West End Avenue, Suite 1750 Nashville, TN 37203 Telephone: (615) 742-4532 E-mail: mabelow@srvhlaw.com bbauer@srvhlaw.com About Hidden Valley Lakes Trustees, Inc. Hidden Valley Lakes Trustees, Inc. sought protection under Chapter 11 of the Bankruptcy Code (Bankr. M.D. Tenn. Case No. 1:26-bk-02432) on May 21, 2026. At the time of filing, the Debtor had estimated assets of between $1,000,001 and $10 million and liabilities of between $500,001 and $1 million. Judge Randal S. Mashburn oversees the case. Sherrard Roe Voigt & Harbison, PLC is Debtor's legal counsel. HOME VALUE: Seeks Subchapter V Bankruptcy in Florida ---------------------------------------------------- On June 2, 2026, Home Value Store II, LLC 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 $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 July 9, 2026 at 03:00 PM by TELEPHONE. About Home Value Store II, LLC Home Value Store II, LLC operates in the home furnishings and retail sector. Home Value Store II, LLC sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-17280) on June 2, 2026. In its petition, the Debtor reported estimated assets of $1 million to $10 million and estimated liabilities of $100,001 to $1 million. The Honorable Chief Judge Peter D. Russin handles the case. The Debtor is represented by Jesus Santiago, Esq. Linda Marie Leali serves as Subchapter V Trustee. HOMESTEAD VILLAGE: Has Deal on Cash Collateral Access ----------------------------------------------------- Homestead Village, LLC and Freedom REIT advise the U.S. Bankruptcy Court for the District of Idaho that they have reached a stipulation regarding the use of cash collateral and now desire to memorialize the terms of this agreement into an agreed order. The stipulation is intended, among other things, to resolve Freedom REIT's objection to the Debtor's supplemental cash collateral motion. Approval of the stipulation will support a consensual Chapter 11 plan and facilitate the sale of the Debtor's primary asset: an apartment complex in Sandpoint, Idaho. The court previously approved interim use of cash collateral, and subsequent negotiations resolved the parties' dispute involving the rental property through the stipulation. Before bankruptcy, the Debtor obtained two construction loans from Freedom REIT in 2023 and 2024, secured by liens on its real and personal property. The loans funded construction of an apartment complex that remains unfinished, though 34 units are occupied and generating rental and ancillary income. As of the petition date, the Debtor owed approximately $12.6 million to Freedom REIT, with interest accruing at more than $6,000 per day. Because the property is valued at about $10.4 million, Freedom REIT is undersecured and the Debtor has no equity in the property. A court hearing on the stipulation will be held on June 25. A copy of the stipulation is available at https://urlcurt.com/u?l=Po81mg from PacerMonitor.com. About Homestead Village LLC Homestead Village, LLC is a real estate development and property management company engaged in the ownership and operation of residential community properties. Homestead Village, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-20047) on February 10, 2026. In its petition, the Debtor reports estimated assets between $10 million and $50 million and estimated liabilities between $10 million and $50 million. Honorable Bankruptcy Judge Noah G. Hillen handles the case. The Debtor is represented by Mauricio Cardona, Esq., of Davillier Law Group. Freedom REIT, as secured creditor, is represented by Brian M. Rothschild, Esq. at Parsons Behle & Latimer. HOMETOWN CHIROPRACTIC: Gets Extension to Access Cash Collateral --------------------------------------------------------------- Hometown Chiropractic, LLC received another extension from the U.S. Bankruptcy Court for the Middle District of Tennessee to use cash collateral. The court entered a second interim order authorizing the Debtor to use cash collateral until a final hearing in accordance with its budget and the terms of the April 24 initial order. The Debtor may deviate from budgeted expenses by up to 10% for individual expense categories and in the aggregate. The weekly budget reflects the Debtor's anticipated cash flow and operational needs over a five-week period from May 18 through June 21. The budget projects relatively stable weekly deposits of approximately $8,800 in revenue, primarily offset by significant fluctuations in operating expenses. The projections show that the Debtor's cash position fluctuates significantly week to week, including periods of negative ending balances without continued access to cash collateral. Certain weeks reflect large payroll and fixed expense obligations that drive negative net cash flow while other weeks show recovery into positive balances due to timing differences in expenses and receipts. Under the second interim order, the Debtors are required to provide lienholders with adequate protection through replacement liens on the Debtor's post-petition property and proceeds (excluding avoidance actions), with the same priority and extent as their pre-petition liens. The order is available at https://shorturl.at/5xJZ7 from PacerMonitor.com. The court scheduled a third interim hearing for June 17. Hometown Chiropractic's financial distress largely stems from Tactic Franchising's alleged franchise termination and arbitration, which contributed to the collapse of its cash flow. The Debtor also cited heavy reliance on merchant cash advances in 2025, whose aggressive repayment terms worsened liquidity, leaving multiple obligations now deemed unsustainable. About Hometown Chiropractic LLC Hometown Chiropractic, LLC filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. M.D. Tenn. Case No. 26-01799) on April 17, 2026. In the petition signed by Anne Peters, manager, the Debtor disclosed up to $50,000 in assets and up to $1 million in liabilities. Judge Charles M. Walker oversees the case. Michelle L. Spezia, Esq., at Johnson & Spezia, PLLC, represents the Debtor as legal counsel. Michael Abelow, Esq., at Sherrard Roe Voigt & Harbison, PLC, serves as Subchapter V trustee for the Debtor. HYBAR LLC: Moody's Assigns First Time 'B3' Corporate Family Rating ------------------------------------------------------------------ Moody's Ratings assigned a first-time B3 Corporate Family Rating and a B3-PD Probability of Default Rating to Hybar LLC ("Hybar"). At the same time, Moody's assigned a B3 rating to Hybar's Series 2023 A and B (post-exchange) and Series 2026 A and B (newly issued) backed senior secured revenue bonds to be issued by the Arkansas Development Finance Authority ("ADFA"). The rating outlook is stable. Governance considerations under Moody's ESG framework, specifically financial strategy and risk management, were a key driver of the new rating assignment. RATINGS RATIONALE Hybar is expected to raise nearly $1.1 billion through a combination of debt and sponsor equity to finance the construction of its second rebar mill (Hybar II) and refinance existing debt. Hybar launched the issuance of $330 million of Series 2026 revenue bonds. Hybar also launched a tender/exchange for its existing Series 2023 revenue bonds to modify certain project-finance type covenants. Moody's expects Hybar to issue Other Fixed-Rate Debt in the near-term to supplement the revenue bond issuance and sponsor equity contribution. Hybar's B3 CFR is supported by the management team's proven track record of developing and operating greenfield EAF steel mini-mills, the company's low-cost position, multi-modal transportation access enabling competitive reach to rebar demand centers across the country. The rating also benefits from secure scrap sourcing arrangements with one of its sponsors (Koch Minerals & Trading), prefunding of Hybar II expansion capex that mitigates near-term financing risk, and favorable US rebar market dynamics including substantial import tariffs and structural demand tailwinds from infrastructure, data center, and industrial construction activity. Hybar's rating is constrained by its very limited operating history, meaningful execution risk associated with simultaneously ramping up Hybar I while constructing a second co-located mill, and weak near-term credit metrics that are not expected to normalize until 2029. The rating also reflects the company's modest size, narrow business profile as a single-product, single-site operation, which amplifies its exposure to volatile steel and scrap prices, cyclical US construction activity, the risk that significant domestic rebar capacity additions could compress metal spreads, and the sensitivity of earnings to trade policy. Additionally, private equity ownership introduces governance risk considerations, including the potential for prioritizing equity returns over debt reduction. Moody's expects Hybar to generate Moody's adjusted EBITDA of around $75 million in 2026, stepping up to around $120 million in 2027 with a full year of operations for Hybar I. Moody's expects EBITDA to further increase in 2028 with the start up of Hybar II, with 2029 representing the first full year of operations for both Hybar I and II. Moody's expects full run-rate EBITDA of around $250 million, with both Hybar I and II running at capacity. Moody's adjusted free cash flow is expected to be negative through 2028 as a result of the capex associated with Hybar II. However, prefunding of that expected spend mitigates the risk. As a result of the gradual ramp in EBITDA and prefunding of Hybar II capex, leverage is expected to be elevated through 2028, before normalizing around 4.3x in 2029. Hybar has good liquidity to support its operations and construction of the second mill. Proforma for the contemplated debt and equity financing transactions, Moody's expects Hybar to have nearly $830 million of cash on the balance sheet. The company will also have access to a $75 million ABL revolver (unrated) due 2031. While Moody's expects free cash flow to be materially negative in the near-term as a result of construction of Hybar II, pre-funding of this capex mitigates this risk. The ABL revolver borrowings are subject to a springing fixed charge coverage ratio of 1.0x when excess availability falls below the greater of 10% of line cap and $5.5 million. Hybar's stable outlook assumes a successful ramp-up of Hybar I to full nameplate capacity in the coming months, and a successful construction of Hybar II on schedule and within budget. It also assumes a gradual improvement in credit metrics as both the ramp-up and construction progress as planned. The 2023 and 2026 series revenue bonds are rated B3, in line with the CFR as they, together with the contemplated Other fixed-rate debt, represent the preponderance of debt in the capital structure, behind the $75 million ABL credit facility (unrated). Hybar has been assigned a Credit Impact Score of CIS-4, which indicates the rating is lower than it would have been if ESG risk exposures did not exist. The company has an Environmental Issuer Profile Score ("IPS") of E-4, reflecting environmental challenges associated with physical climate risk, pollution control regulation and carbon transition risk, although this is somewhat tempered by Hybar's use of 100% recycled scrap metal as feedstock, and access to renewable power for a portion of its needs. Hybar has a Social IPS of S-3, reflecting compliance and safety risks typical of EAF steel producers, the potential for changing labor standards or disruptions in labor availability, and exposure to societal trends focused on reducing carbon emissions. The company has a Governance IPS of G-4, primarily reflecting risks related to its private equity ownership, lack of independent board representation and weak credit metrics expected to persist through the ramp-up of Hybar I and construction of Hybar II, although the prefunding of Hybar II construction costs and the absence of near-term debt maturities provide some offset. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS Hybar's ratings are not likely to be upgraded in the near-term considering the company's modest size, single site operation and lack of end market diversity. The company would need to increase its scale and diversity and sustain leverage (Debt/EBITDA) below 4.5x, interest coverage (EBIT/Interest) above 2.5x and consistently generate positive free cash flow for an upgrade to be considered. Hybar's ratings could be downgraded if Hybar I experiences any significant production issues as the company ramps-up to full nameplate capacity, if Hybar II experiences any significant delays or cost-overruns, or metal spreads were to materially weaken, putting pressure on the company's liquidity. Additionally, the ratings could also be downgraded if the company sustains leverage above 5.5x and interest coverage below 1.5x following completion of Hybar II's construction and ramp-up. Hybar operates a scrap-metal recycling steel rebar mill in Osceola, Arkansas with a rated capacity of 630K tons per year. The company is in the process of doubling this capacity, with the planned construction of a second mill adjacent to its existing site. The company was initially capitalized in August 2023, and is owned by a consortium including TPG, Quanta Services, Inc., Consolidated Rebar Investors and Koch Minerals & Trading. The principal methodology used in these ratings was Steel published in September 2025 . Hybar's B3 rating is 2 notches above the Caa2 scorecard-indicated outcome based on its LTM December 31, 2025 financials. The difference reflects limited earnings contribution from Hybar I in the historical period, given the plant started operations in October 2025. I & A AUTOMOTIVE: Taps Charles Fitzpatrick as Bankruptcy Counsel ---------------------------------------------------------------- I & A Automotive Service Center, LLC seeks approval from the U.S. Bankruptcy Court for the Northern District of Ohio to hire Law Office of Charles Fitzpatrick as counsel. The firm will render these services: (a) advise the Debtor of its rights, powers and duties as debtor and debtor in possession continuing to operate and manage his business and property; (b) advise the Debtor concerning, and assist in the negotiation and documentation of financing agreements and related transactions; (c) review the nature and validity of liens asserted against the Debtor's property and advise the Debtor concerning the enforceability of such liens; (d) advise the Debtor concerning the actions that the Debtor may take to collect and recover property for the benefit of the Debtor's estate; (e) prepare on behalf of the Debtor all necessary and appropriate applications, motions, pleadings, draft orders, notices, schedules and other documents, and review all financial reports to be filed in this case; (f) advise the Debtor concerning, and prepare responses to, applications, motions, pleadings, notices and other papers that may be filed and served in this case; (g) counsel the Debtor in connection with the formulation, negotiation and promulgation of plan(s) of reorganization and related documents; (h) advise and assist the Debtor in connection with any disposition of assets; (i) advise the Debtor concerning executory contract and unexpired lease assumptions, assignments and rejections and lease restructurings; and (j) perform such other legal services for and on behalf of the Debtor as may be necessary or appropriate in the administration of this case and the Debtor's business, including advice and assistance to the Debtor with respect to debt restructuring and general matters. The firm will charge $30,000 for legal services on a flat-fee basis, inclusive of pre-petition and post-petition work. The firm's current hourly rates are: Charles Fitzpatrick, Principal $425 Of-Counsel Attorney $375 Associate Attorney $325 Non-attorney staff $185 Prior to the Petition Date, the Debtor paid to Law Office of Charles Fitzpatrick a fee in the amount of $15,000 for services rendered in connection with this case. In addition, the debtor paid to Law Office of Charles Fitzpatrick the sum of $1,738 to cover the filing fee in this case, which was applied at the time of filing. As disclosed in the court filings, Law Office of Charles Fitzpatrick is a disinterested person as defined in section 101(14) of the Bankruptcy Code. The firm can be reached through: Charles Fitzpatrick, Esq. CHARLES E FITZTRICK IV ESQ LLC 250 South Chestnut Street, Suite 17 Ravenna, OH 44266 Tel: (330) 577-4002 E-mail: charles@fitzpatrickesq.com About I & A Automotive Service Center LLC I & A Automotive Service Center, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ohio Case No. 26-10515) on February 9, 2026, with $1 million to $10 million in assets and $500,001 to $1 million in liabilities. Judge Jessica E. Price Smith presides over the case. Charles Edward Fitzpatrick, IV, Esq., at the Law Office Of Charles Fitzpatrick represents the Debtor as legal counsel. INCAR GROUP: Unsecured Creditors to Split $500K in Plan ------------------------------------------------------- INCAR Group LLC filed with the U.S. Bankruptcy Court for the District of Puerto Rico a Disclosure Statement in support of Plan of Reorganization dated May 26, 2026. The Debtor is a limited liability company organized under the laws of Puerto Rico. The Debtor has been engaged in the ownership, management, operation, or development of commercial real property and related business activities. The Chapter 11 case was caused principally by collection activity and the challenged judicial sale or transfer affecting the Debtor's two principal real property assets. The Debtor contends that Pedro Correa Amil, Lisa Martínez Mangual, PLCA Investment Corp., and related parties obtained or attempted to obtain value from the Debtor's real property rights through a judicial-sale process or related transaction shortly before the bankruptcy case. The Debtor filed this Chapter 11 case to preserve estate value, protect the creditor body, prosecute or preserve estate claims, and propose a reorganization that may pay allowed claims in full if the disputed property rights are restored to the Debtor or the estate. The Plan is based on the Debtor's effort to recover and monetize disputed real property rights presently involved in an adversary proceeding. The Debtor does not ask the Court to adjudicate the adversary proceeding through confirmation. Instead, the Plan preserves that litigation and establishes how claims will be treated if the Debtor recovers the right to sell, mortgage, refinance, convey, or otherwise monetize one or both recovered real properties. The Plan uses a conservative funding projection. Although the Debtor has identified valuation materials reflecting values higher than the amount needed to pay allowed claims, the Plan assumes only $1,000,000 in estimated net proceeds from monetization of the recovered real properties. That figure is not a concession of value. It is a conservative feasibility assumption used to show that the Plan can pay allowed claims in full even if actual monetization produces materially less than the Debtor's asserted full valuation. From the assumed $1,000,000 in net proceeds, the Debtor projects total Plan payments of approximately $574,148, including principal payments of approximately $553,104 and projected 4% interest of approximately $21,044. Under that projection, the Debtor would retain an estimated surplus of approximately $425,852, subject to actual results, claim allowance, transaction costs, taxes, disputed-claim reserves, Court orders, and implementation risks. Class 4 consists of all allowed non-priority general unsecured claims. Class 4 is impaired because the Plan modifies the timing and source of payment. The Debtor's schedules and filed claims reflect total general unsecured claims of approximately $778,307. The Debtor does not concede that the full amount is allowed. The Debtor estimates allowed Class 4 claims at approximately $485,728, subject to claim objections, allowance, reconciliation, settlement, and further order of the Court. Each holder of an allowed Class 4 claim shall receive payment in full of the allowed amount of such claim, plus projected 4% interest. The projected total payment to allowed Class 4 claims is approximately $505,157. The Plan funding projection assumes that the Debtor will prevail in the pending adversary proceeding or otherwise recover the right to monetize the recovered real properties. The projection further assumes estimated net proceeds of $1,000,000. This $1,000,000 figure is conservative. It is not a concession that the recovered real properties are worth only $1,000,000. The conservative projection is used to demonstrate that the Plan can pay allowed claims in full even if actual monetization produces materially less than the Debtor's asserted full valuation. A full-text copy of the Disclosure Statement dated May 26, 2026 is available at https://urlcurt.com/u?l=SYHfrv from PacerMonitor.com at no charge. Counsel to the Debtor: Carlos A. Ruiz Rodriguiez LCDO. Carlos Alberto Ruiz, LLC P.O. Box 1298 Caguas, PR 00726 Telephone: (787) 286-9775 Facsimile: (787) 747-2174 Email: carlosalbertoruizquiebras@gmail.com About INCAR Group LLC INCAR Group LLC is a construction contractor based in Cidra, Puerto Rico. INCAR Group LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.P.R. Case No. 25-03067) on July 1, 2025. In its petition, the Debtor estimated assets up to $50,000 and estimated liabilities between $500,000 and $1 million. The Debtor is represented by Carlos A. Ruiz Rodriguez, Esq. INDEPENDENT MEDEQUIP: Plan Exclusivity Period Extended to July 15 ----------------------------------------------------------------- Judge Tamara O. Mitchell of the U.S. Bankruptcy Court for the Northern District of Alabama extended Independent MedEquip LLC and its affiliates' exclusive periods to file a plan of reorganization and obtain acceptance thereof to July 15 and Sept. 30, 2026, respectively. As shared by Troubled Company Reporter, the Debtors explain that for them to meet their burdens of providing adequate information to creditors and formulating a feasible plan, they will need to know with reasonable certainty the value of collateral securing purchase-money security interests. Therefore, the exclusivity period needs to be extended to allow the Debtors sufficient time to employ a professional who can appraise the value of the Debtors' durable medical equipment. The Debtors claim that they have been regularly communicating with creditors and have been able to resolve most issues without Court involvement. The Debtors have been making substantial progress towards finalizing the terms of a plan but need some more time to work to reach agreements with creditors regarding the value of their collateral and, in the meantime, employ an appraiser to testify as to the value to the extent that agreements on value are not reached. The Debtors assert that this is their second motion to extend the exclusivity period. Given the complexity of these cases and the importance of resolving the issues, the benefits from extending the exclusivity period will outweigh any prejudice to creditors. The Debtors reserve the right to seek additional extensions should the need arise. Counsel to the Debtors: Wm. Wesley Causby, Esq. Memory Memory & Causby, LLP Post Office Box 4054 Montgomery, AL 36103-4054 Telephone: (334) 834-8000 Facsimile: (334) 834-8001 E-mail: wcausby@memorylegal.com About Independent MedEquip LLC Independent MedEquip, LLC, a company in Birmingham, Ala., provides durable medical equipment such as oxygen tanks, CPAP machines, mobility aids, and other home-use medical devices. Independent MedEquip and its affiliates sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ala. Lead Case No. 25-02821) on Sept. 18, 2025. At the time of the filing, Independent MedEquip disclosed up to $50,000 in assets and up to $500,000 in liabilities. Judge Tamara O'Mitchell oversees the cases. Stuart Memory, Esq., at Memory Memory and Causby LLP, is the Debtor's legal counsel. Jackson Investment Group, LLC, the Debtors' DIP lender, may be reached through Richard L. Jackson, CEO. Cadence Bank, a prepetition secured creditor, may be reached through C. Ellis Brazeal III, Esq., at Jones Walker, LLP, in Birmingham, Alabama. INOTIV INC: Files Prepackaged Chapter 11 to Cut $326M in Debt ------------------------------------------------------------- Inotiv, Inc., a leading Contract Research Organization specializing in nonclinical and analytical drug discovery and development services and research models and related products and services, announced om Jun 3, 2026, that it has entered into a Restructuring Support Agreement with its Prepetition First Lien Lenders and Ad Hoc Group of Noteholders, constituting substantially all of its junior creditors, to implement a comprehensive recapitalization transaction that will strengthen its capital structure. To implement the transaction, Inotiv has filed a voluntary, prepackaged chapter 11 case in the U.S. Bankruptcy Court for the Southern District of Texas. The support of these stakeholders speaks to their confidence in the strength of Inotiv's business. Through this process, Inotiv will reduce its debt by approximately $326 million. The Company will maintain normal operations without disruption and continue to deliver critical research models and services to its clients. Inotiv has received commitments for $25 million in new money debtor-in-possession financing, which follows $40 million in bridge financing provided in May. These funds will be used to support the business throughout the chapter 11 process. Inotiv intends to emerge from this process as a healthier, well-capitalized business with the benefit of significantly less debt. "We've been working with our key financial stakeholders to explore strategic alternatives and believe we have determined a path forward that will enable us to support the Company and our long-term strategic vision," said Bob Leasure, President and Chief Executive Officer of Inotiv. "Our operating teams remain committed to focusing on our clients and continuing to improve our business model. By taking proactive steps to strengthen our financial foundation and capital structure, Inotiv will have additional flexibility to advance our strategic initiatives and deliver value to our clients. I want to thank our dedicated employees, loyal clients and partners, and our financial stakeholders for their continued support." In line with the RSA, the Company has begun soliciting votes on a pre-packaged plan of reorganization, and has secured the affirmative votes of holders of the necessary majorities of all tranches of its capital structure under its credit agreement and bond indentures. Inotiv will continue normal business operations during the process and expects to seek confirmation of the plan of reorganization and emerge from chapter 11 on an expedited basis. The Company has filed a number of customary motions with the Court to ensure ordinary operations are not disrupted during the pendency of the chapter 11 case. To that end, the Company has filed an "all-trade" motion with the Court that will allow it to continue paying vendors and suppliers in the ordinary course, as well as a "wages motion" that will allow it to continue paying employee obligations and benefits. Additional information on the Company's chapter 11 case can be found at https://restructuring.ra.kroll.com/Inotiv. Stakeholders can also contact Kroll, Inotiv's noticing and claims agent, at (844) 408-3698 (for toll-free U.S. and Canada calls) or (646) 825-3849 (for tolled international calls). About Inotiv Inotiv, Inc. -- https://www.inotiv.com/ -- is a leading contract research organization dedicated to providing nonclinical and analytical drug discovery and development services and research models and related products and services. The Company's products and services focus on bringing new drugs and medical devices through the discovery and preclinical phases of development, all while increasing efficiency, improving data, and reducing the cost of taking new drugs and medical devices to market. Inotiv is committed to supporting discovery and development objectives as well as helping researchers realize the full potential of their critical research and development projects, all while working together to build a healthier and safer world. Inotiv is advised in this matter by Ropes & Gray LLP as legal counsel, Perella Weinberg Partners as investment banker, and FTI Consulting as financial and communications advisor. The Prepetition First Lien Lenders are advised by Davis Polk & Wardwell LLP as legal counsel and BRG as financial advisors. The Noteholder Ad Hoc Group is advised by Paul, Weiss, Rifkind, Wharton & Garrison LLP as legal counsel. INOTIV INC: Gets Interim OK to Tap $25MM Bankruptcy Loan -------------------------------------------------------- Vince Sullivan of Law360 Bankruptcy Authority reports that a Texas bankruptcy judge granted interim approval for Inotiv Inc. to draw on a $25 million bankruptcy financing package, providing the life sciences company with liquidity as it pursues a prearranged Chapter 11 restructuring. The financing is expected to support day-to-day operations and ensure business continuity throughout the court-supervised process. Inotiv specializes in drug research, development, and testing services for pharmaceutical and biotechnology companies. The company entered bankruptcy with a restructuring plan already negotiated with major creditor groups, seeking to implement a balance-sheet overhaul that would reduce leverage and improve financial flexibility. Management has emphasized that the Chapter 11 filing is focused on financial restructuring rather than operational changes, the report relays. Under the interim order, Inotiv can immediately access part of the financing while awaiting a final hearing on the full facility. The company believes the restructuring will enable it to emerge from bankruptcy with a healthier capital structure, enhanced liquidity, and a stronger foundation for future growth in the competitive contract research services market. About Inotiv Inc. Inotiv, Inc. is a contract research organization dedicated to providing nonclinical and analytical drug discovery and development services primarily to the pharmaceutical and medical device industries and selling a range of research-quality animals and diets to the same industries as well as academia and government clients. The Company's products and services focus on bringing new drugs and medical devices through the discovery and preclinical phases of development and, in certain cases, the clinical phases of development, all while focusing on increasing efficiency, improving data, and reducing the cost of discovering and taking new drugs and medical devices to market. IPA ASSET: Trustee Hires LaMonica Herbst & Maniscalco as Counsel ---------------------------------------------------------------- R. Kenneth Barnard, Esq., the Chapter 11 Trustee of IPA Asset Management LLC, seeks approval from the U.S. Bankruptcy Court for the Eastern District of New York to hire LaMonica Herbst & Maniscalco, LLP as his counsel. The firm's services include: a. advising and assisting the Trustee in the operation of the Debtor's business; b. advising the Trustee on an exit strategy for this case, which may include the sale or sales of certain of the Debtor's real properties; c. preparing, as may be necessary, a Chapter 11 plan and related documents; d. advising and assisting the Trustee with an investigation into the Debtor's financial affairs including, inter alia, conducting investigations, conducting examinations under Bankruptcy Rule 2004, and advising the Trustee as to the existence of any claims or causes of action that can be pursued for the benefit of the Debtor's estate; e. advising and assisting the Trustee in the pursuit and recovery of any avoidable transfers of the Debtor's assets under, inter alia, sections 544, 546, 547, 548, 549 and 550 of the Bankruptcy Code and New York State Debtor Creditor law; f. preparing, filing and prosecuting motions objecting to claims, as directed by the Trustee, that may be necessary to complete the administration of the Debtor's estate; and g. advising the Trustee and performing legal services, including preparing and filing motions and applications as directed by the Trustee in connection with his statutory duties. The firm will be paid at these rates: Partners $725 per hour Associates $475 per hour Paraprofessionals $225 per hour The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Holly R. Holecek, Esq., a partner at LaMonica Herbst & Maniscalco, LLP, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Holly R. Holecek, Esq. Lamonica Herbst & Maniscalco, LLP 3305 Jerusalem Avenue, Suite 201 Wantagh, NY 11793 Telephone: (516) 826-6500 Email: hrh@lhmlawfirm.com About IPA Asset Management LLC IPA Asset Management LLC is a real estate holding company that owns four residential properties in Suffolk County, New York. It is affiliated with 31FO LLC, which owns property at 31 Fort Hill in Lloyd Harbor, NY. IPA Asset Management LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.Y. Case No. 25-43102) on June 27, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. The Debtors are represented by Kevin Nash, Esq. at GOLDBERG WEPRIN FINKEL GOLDSTEIN LLP. IPIC THEATERS: Claims to be Paid from Asset Sale Proceeds --------------------------------------------------------- IPIC Theaters, LLC, filed with the U.S. Bankruptcy Court for the Southern District of Florida a Plan of Liquidation dated May 26, 2026. The Debtor is one of America's premier restaurant-and-movie theater brands and a pioneer of the dine in movie theater. The Debtor's mission is to provide entertainment escapes, presenting high-quality, chef-driven culinary and mixology in architecturally unique destinations that include premium movie theaters and restaurants. The Debtor currently operates 12 locations in Florida, California, Georgia, New York, New Jersey, Texas, Washington and Maryland, which locations are leased. Most of the Debtor's theater locations are situated in mixed-use retail, entertainment, and lifestyle developments, with one location in a standalone building. On May 8, 2026, pursuant to the Bid Procedures Order, the Debtor held an auction (the " Auction") on May 8, 2026, at the office of Burr & Forman, LLP, 200 East Broward Boulevard, Suite 1020, Fort Lauderdale, Florida 33301, and by Zoom video conference, which commenced at approximately 10:30 a.m., and concluded at approximately 3:45 p.m. At the Auction, in accordance with the Bid Procedures Order, the Debtor determined that the highest or otherwise best offer received for the Cinemex Assets was a bid made by Cinemex Holdings USA, Inc., as set forth in Cinemex Agreement. The purchase price for the Cinemex Assets was $7,500,000.00. At the Auction, in accordance with the Bid Procedures Order, the Debtor determined that the highest or otherwise best offer received for the Blue Fox Assets was a bid made by Blue Fox Theater, LLC, as set forth in Blue Fox APA. The purchase price for the Blue Fox Assets was $500,000.00. On May 13, 2026, this Court entered the Order (I) Authorizing the Sale of Debtor's Assets Free and Clear of all Liens, Claims, Encu brances, and Other Interests to Cinemex Holdings USA, Inc.;(II) Authorizing and Approving the Asset Purchase Agreements; (III) Approving Assumption and Assignment of Certain Executory Contracts and Unexpired Leases; and (IV) Granting Related Relief (the " Cinemex Sale Order"). Blue Fox agreed to purchase the Debtor's Westwood location in California and the Debtor's location in New York City with the consent of those landlords. Cinemex agreed to purchase the Debtor's locations in Delray Beach, Florida, Boca Raton, Florida and Bethesda, Maryland. Finally, the Debtor and the Pasadena, California location's landlord agreed to a lease termination agreement. The Plan provides for the orderly payment of Allowed Claims from the liquidation of the Debtor's Estate. All Assets of the Debtor have been sold, or will be sold, pursuant to the Bid Procedures Order and Sale Order or other orders of the Bankruptcy Court. Class 2 consists of all Allowed Unsecured Claims. Each Holder of an Allowed Unsecured Claim in Class 2 shall receive distributions from the Debtor. The distribution to each Holder of Allowed Unsecured Claim in Class 2 shall equal the Pro Rata Share of the Holder's Allowed Claim multiplied by the proceeds, net of expenses, from the liquidation of the Assets. Class 3 consists of any and all interests of the Debtor that are property of the Debtor's Estate under Sections 541 and 1115 of the Bankruptcy Code. These interests are owned by RSA. Subject to and in accordance with Sections 6.1 and 6.2 of the Plan, and applicable non-bankruptcy law, on the Effective Date, (a) all Assets have been or will be liquidated and distributed to Holders of Allowed Claims. If there are any funds or property after Allowed Claims are paid in full, those remaining funds or property shall be distributed to Class 3. Following the Effective Date, the Debtor shall pay Holders of Allowed Claims all payments due under the Plan. The Plan will be funded by the net proceeds of the sale of the Debtors Assets pursuant to the Cinemex APA and Blue Fox APA and any other order of the Bankruptcy Court authorizing the sale of the Debtor's assets. A full-text copy of the Liquidating Plan dated May 26, 2026 is available at https://urlcurt.com/u?l=wfi7TP from PacerMonitor.com at no charge. Counsel to the Debtor: BURR & FORMAN LLP Derek F. Meek, Esq. Alabama Bar No. ASB-7723-M74D Primary Email: dmeek@burr.com Marc P. Solomon, Esq. Primary Email: msolomon@burr.com Secondary Emails: mgunnells@burr.com; ksickles@burr.com 420 North 20th Street, Suite 3400 Birmingham, AL 35203 Telephone: (205) 251-3000 Facsimile: (205) 458-5100 - and - Christopher R. Thompson, Esq. Primary Email: crthompson@burr.com Secondary Email: mlucca-cruz@burr.com; kkearney@burr.com Kylie A. Riordan, Esq. Primary Email: kriordan@burr.com Secondary Email: echaves@burr.com 200 S. Orange Avenue, Suite 800 Orlando, FL 32801 Telephone: (407) 540-6600 Facsimile: (407) 540-6601 About IPIC Theaters IPIC operates a chain of premium dine-in movie theaters in the United States, combining luxury seating with in theater dining, including restaurants and beverage service. The Company runs 13 locations with 8 restaurants and approximately 100 screens nationwide, offering enhanced audiovisual and hospitality experiences. IPIC's operations encompass ticketing, food and beverage service, and membership programs across its branded theaters. IPIC Theaters, LLC, in Boca Raton, FL, sought relief under Chapter 11 of the Bankruptcy Code filed its voluntary petition for Chapter 11 protection (Bankr. S.D. Fla. Case No. 26-12313) on Feb. 25, 2026, listing $10 million to $50 million in assets and $1 million to $10 million in liabilities. Patrick Quinn as chief executive officer, signed the petition. BURR & FORMAN LLP serves as the Debtor's legal counsel. JACKSON HOSPITAL: Warns of Possible Closure Without Financial Help ------------------------------------------------------------------ Waka 8 Action News reports that Jackson Hospital says it is approaching a critical financial breaking point and could shut down unless Blue Cross Blue Shield of Alabama agrees to significantly higher reimbursement rates. Hospital leaders stated that absent a new agreement, the board intends to announce a closure on June 25, 2026. The warning marks the first time the hospital has attached a specific timeline to its longstanding concerns about financial sustainability. Court documents show that Jackson Hospital is seeking emergency relief, arguing that BCBS has failed to reimburse the facility at rates comparable to those paid to competing hospitals. The hospital criticized the insurer's suggestion that closure is not imminent and said such assertions disregard the impact a shutdown would have on patients who rely on its services. Hospital officials contend that prompt action is needed to preserve operations. The Chapter 11 debtor also continues to pursue litigation against BCBS over approximately $1.4 million in disputed funds. Jackson Hospital alleges the insurer violated bankruptcy protections by withholding payments after the Chapter 11 filing. Beyond the dispute, the hospital cites rising costs, inadequate reimbursement structures, and uncompensated care burdens as major factors behind its financial challenges, according to report. BCBS responded that it has provided fair reimbursement increases and other assistance while remaining committed to protecting its members from excessive healthcare costs. Governor Kay Ivey's office reiterated support for keeping the hospital open but noted that state funding commitments are contingent upon a successful bankruptcy exit. With only a fraction of the funding needed for recovery secured, Jackson Hospital's future remains uncertain as negotiations continue, the report relays. About Jackson Hospital & Clinic Jackson Hospital & Clinic, Inc., is a non-membership, non-profit corporation based in Alabama. JHC is the direct or indirect parent company of JHC Pharmacy, LLC, an Alabama limited liability company that provides pharmacy services to JHC patients. JHC owns 100% of JHC Pharmacy. Additionally, JHC is a direct or indirect parent company of certain other entities that have not filed for bankruptcy. JHC operates a 344-bed healthcare facility in Montgomery, Ala., with a rich history dating back to 1894. Since its official opening in 1946, JHC has grown into one of the largest hospitals in Alabama, offering specialized services in cardiac care, cancer treatment, neurosciences, orthopedics, women's care, and emergency services. JHC's service area includes 16 counties across central Alabama. JHC and JHC Pharmacy filed Chapter 11 petitions (Bankr. M.D. Ala. Lead Case No. 25-30256) on Feb. 4, 2025. In its petition, JHC reported between $100 million and $500 million in both assets and liabilities. Judge Christopher L. Hawkins handles the cases. The Debtors are represented by Derek F. Meek, Esq. at Burr & Forman, LLP. JAGUAR HEALTH: Nasdaq Panel Confirms Compliance Through September ----------------------------------------------------------------- Jaguar Health, Inc. announced in a regulatory filing that the Company was formally notified by The Nasdaq Stock Market LLC that it had regained compliance with Nasdaq Listing Rule 5550(a)(2). The Panel will maintain jurisdiction over the Company and its listing until September 1, 2026, the outside date of the Panel's discretion in this matter. Mandatory Panel Monitor In accordance with Listing Rule 5815(d)(4)(B), the Company is subject to a Mandatory Panel Monitor for a period of one year from the date of the Compliance Determination, or May 26, 2027. If within the one-year monitoring period Nasdaq determines that the Company has failed to evidence a closing bid price of at least $1.00 per share for 30 consecutive business days, the Company will not be afforded a 180-day grace period otherwise automatically available under Listing Rule 5810(c)(3). Rather, Nasdaq would issue a delist determination, at which time the Company may request a new hearing before the Panel. The Company's request for a hearing would stay any further action by Nasdaq at least pending the hearing and the expiration of any extension period that may be granted by the Panel following such hearing. Background As previously disclosed, on April 24, 2026, the Company received formal notice that the Nasdaq Hearings Panel had granted the Company's request for continued listing on Nasdaq, subject to the condition that the Company demonstrate compliance with the Bid Price Rule by May 15, 2026. On May 6, 2026, the Company received a superseding decision from the Panel granting the Company's request for an extension to demonstrate compliance with the Bid Price Rule, from May 15, 2026 to May 18, 2026. Management Comments "We are very happy that Jaguar has regained compliance with the Nasdaq listing criteria. We consider our Nasdaq listing an asset of the Company," said Lisa Conte, Jaguar's president and CEO. "As we were pleased to report on May 20, 2026, Jaguar's net revenue increased 816% in Q1 2026 versus Q1 2025, and increased 527% in Q1 2026 over the previous quarter, Q4 2025, buoyed by the US out-license agreement we executed with Future Pak for Mytesi and Canalevia-CA1 this past January. We continue to sharply focus on our pivotal-stage development program for our novel proprietary powder-for-oral-solution formulation of crofelemer for rare intestinal failure indications, targeting an NDA in mid-2027, and on identifying a development and commercialization partner for this program." About Jaguar Health Jaguar Health Inc. is a commercial-stage pharmaceuticals company focused on developing prescription products for gastrointestinal disorders, including plant-based medicines through its Napo Pharmaceuticals business. The company is based in San Francisco. RBSM LLP, based in Larkspur, California, audited Jaguar Health's consolidated financial statements for the year ended Dec. 31, 2025. The auditor said the company's accumulated deficit, recurring losses and expected future losses raised substantial doubt about its ability to continue as a going concern. As of March 31, 2026, Jaguar Health reported $37.43 million in total assets, $53.19 million in total liabilities, and a total stockholders' deficit of $15.75 million. JMK5 MALL: Commences Chapter 11 Bankruptcy in Texas --------------------------------------------------- On June 2, 2026, JMK5 Mall of the Mainland LLC filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Southern District of Texas. According to court filings, the Debtor reports between $10 million and $50 million in debt owed to approximately 1–49 creditors. About JMK5 Mall of the Mainland LLC JMK5 Mall of the Mainland LLC is a real estate holding and management company associated with commercial retail property operations. The company is engaged in the ownership and leasing of mall and retail assets. JMK5 Mall of the Mainland LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-80397) on June 2, 2026, reporting estimated assets of $10 million–$50 million and estimated liabilities of $10 million–$50 million. The Debtor is represented by Richard L. Fuqua II, Esq. of Fuqua & Associates, PC. JOHN FITZGIBBON: Taps Evans & Mullinix as Special Conflicts Counsel ------------------------------------------------------------------- John Fitzgibbon Memorial Hospital, Inc. and Fitzgibbon Health Services seek approval from the U.S. Bankruptcy Court for the Western District of Missouri to employ Evans & Mullinix, PA, as special counsel and special conflicts counsel. The firm will counsel the Debtors with respect to the pending Motion for Relief from Automatic Stay filed by Wood & Huston Bank. The firm will be paid at these rates: Shareholders $400 per hour Associates $300 per hour Paralegals $125 to $175 per hour The firm received from the Debtor a retainer of $2,500. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Evans & Mullinix, P.A. 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: Colin N. Gotham, Esq. Evans & Mullinix, P.A. 7225 Renner Road, Suite 200 Shawnee, KS 66217 Telephone: (913) 962-8700 Facsimile: (913) 962-8701 E-mail: cgotham@emlawkc.com About John Fitzgibbon Memorial Hospital Inc. John Fitzgibbon Memorial Hospital, Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Mo. Case No. 26-40689) on April 21, 2026. In the petition signed by Angela P. Littrell, president and chief executive officer, the Debtor disclosed up to $50 million in both assets and liabilities. Judge Cynthia A. Norton oversees the case. The Debtor tapped Zachary R.G. Fairlie, Esq., at Spencer Fane as counsel and Huron Consulting Services LLC as financial advisor. KARYOPHARM THERAPEUTICS: Adds 1.4M Shares to Amended 2013 ESPP -------------------------------------------------------------- Karyopharm Therapeutics Inc. filed a Registration Statement on Form S-8 to register an additional 1,400,000 shares of Common Stock, $0.0001 par value per share, of Karyopharm Therapeutics Inc., a Delaware corporation, issuable under the Company's Amended & Restated 2013 Employee Stock Purchase Plan, as amended. Pursuant to General Instruction E to Form S-8, the Registration Statement on Form S-8 incorporates by reference the contents of: (i) the Registration Statement on Form S-8, File No. 333-194746, filed by the Registrant with the Securities and Exchange Commission on March 21, 2014 relating to the ESPP, (ii) the Registration Statement on Form S-8, File No. 333-210221, filed by the Registrant with the SEC on March 15, 2016 relating to the ESPP, (iii) the Registration Statement on Form S-8, File No. 333-229971, filed by the Registrant with the SEC on February 28, 2019 relating to the ESPP, (iv) the Registration Statement on Form S-8, File No. 333-237160, filed by the Registrant with the SEC on March 13, 2020 relating to the ESPP, (v) the Registration Statement on Form S-8, File No. 333-263075, filed by the Registrant with the SEC on February 28, 2022 relating to the ESPP, (vi) the Registration Statement on Form S-8, File No. 333-269845, filed by the Registrant with the SEC on February 17, 2023 relating to the ESPP, (vii) the Registration Statement on Form S-8, File No. 333-273593, filed by the Registrant with the SEC on August 2, 2023 relating to the ESPP, and (viii) the Registration Statement on Form S-8, File No. 333-279823, filed by the Registrant with the SEC on May 30, 2024 relating to the ESPP. A full text copy of the Company's Registration Statement is available at https://tinyurl.com/4h9fvf9n About Karyopharm Therapeutics Karyopharm Therapeutics Inc. operates as an oncology-focused pharmaceutical company. The Company offers combination with dexamethasone as a treatment for patients with pretreated multiple myeloma, as well as provides single-agent and combination activity against a variety of human cancers. Karyopharm Therapeutics serves patients in the United States, Germany, and Israel. Boston, Massachusetts-based Ernst & Young LLP, the Company's auditor since 2014, issued a "going concern" qualification in its report dated February 12, 2026, citing that the Company has incurred significant operating losses since inception, expects to incur significant operating losses for the foreseeable future and has stated that substantial doubt exists about the Company's ability to continue as a going concern. As of March 31, 2026, the Company had $131.4 million in total assets, $397 million in total liabilities, and $265.6 million in total stockholders' deficit. KARYOPHARM THERAPEUTICS: Adds 3.95 Million Shares to Equity Plan ---------------------------------------------------------------- Karyopharm Therapeutics Inc. filed a Registration Statement on Form S-8 to register an additional 3,950,000 shares of Common Stock, $0.0001 par value per share, of Karyopharm Therapeutics Inc., a Delaware corporation, that may be issuable under the Company's 2022 Equity Incentive Plan, as amended. Pursuant to General Instruction E to Form S-8, the Registration Statement on Form S-8 incorporates by reference the contents of: (i) the Registration Statement on Form S-8, File No. 333-265386, filed by the Registrant with the Securities and Exchange Commission on June 3, 2022 relating to the 2022 Plan, (ii) the Registration Statement on Form S-8, File No. 333-273593, filed by the Registrant with the SEC on August 2, 2023 relating to the 2022 Plan, (iii) the Registration Statement on Form S-8, File No. 333-279823, filed by the Registrant with the SEC on May 30, 2024 relating to the 2022 Plan, and (iv) the Registration Statement on Form S-8, File No. 333-289466, filed by the Registrant with the SEC on August 11, 2025 relating to the 2022 Plan. A full text copy of the Company's Registration Statement is available at https://tinyurl.com/5xyrxzuh About Karyopharm Therapeutics Karyopharm Therapeutics Inc. operates as an oncology-focused pharmaceutical company. The Company offers combination with dexamethasone as a treatment for patients with pretreated multiple myeloma, as well as provides single-agent and combination activity against a variety of human cancers. Karyopharm Therapeutics serves patients in the United States, Germany, and Israel. Boston, Massachusetts-based Ernst & Young LLP, the Company's auditor since 2014, issued a "going concern" qualification in its report dated February 12, 2026, citing that the Company has incurred significant operating losses since inception, expects to incur significant operating losses for the foreseeable future and has stated that substantial doubt exists about the Company's ability to continue as a going concern. As of March 31, 2026, the Company had $131.4 million in total assets, $397 million in total liabilities, and $265.6 million in total stockholders' deficit. KARYOPHARM THERAPEUTICS: All Key Proposals Passed At Annual Meeting ------------------------------------------------------------------- Karyopharm Therapeutics Inc. announced in a regulatory filing the final voting results from its Annual Meeting of Stockholders. The following is a summary of the matters voted on at the Annual Meeting: PROPOSAL 1. The Company's stockholders elected Barry E. Greene and Christy J. Oliger as Class I directors, each to serve on the Board for a three-year term until the 2029 annual meeting of stockholders and until his or her resignation or removal or until his or her successor is duly elected and qualified. The results of the stockholders' vote with respect to the election of such Class I directors were as follows: 1. Barry E. Greene * Votes For: 8,961,538 * Votes Withheld: 2,469,147 * Broker Non-Votes: 5,410,881 2. Christy J. Oliger * Votes For: 10,601,387 * Votes Withheld: 829,298 * Broker Non-Votes: 5,410,881 PROPOSAL 2. The Company's stockholders approved an amendment to the Karyopharm Therapeutics Inc. 2022 Equity Incentive Plan, as amended. The 2022 Plan Amendment, which had previously been adopted by the Board of Directors subject to stockholder approval, increases the number of shares of common stock of the Company available for issuance under the Amended 2022 Plan by 3,000,000 shares. The results of the stockholders' vote with respect to such approval were as follows: * Votes For: 10,474,681 * Votes Against: 953,411 * Votes Abstaining: 2,593 * Broker Non-Votes: 5,410,881 A complete copy of the 2022 Plan Amendment is available at https://tinyurl.com/45c5xsea PROPOSAL 3. The Company's stockholders approved an amendment to the Karyopharm Therapeutics Inc. Amended & Restated 2013 Employee Stock Purchase Plan, as amended, to increase the number of shares of the Company's common stock available for issuance thereunder by 1,400,000 shares. The results of the stockholders' vote with respect to such approval were as follows: * Votes For: 11,221,920 * Votes Against: 203,702 * Votes Abstaining: 5,063 * Broker Non-Votes: 5,410,881 PROPOSAL 4. The Company's stockholders approved, on an advisory basis, the compensation of the Company's named executive officers as disclosed in the Proxy Statement. The results of the stockholders' vote with respect to such approval were as follows: * Votes For: 10,025,198 * Votes Against: 1,388,274 * Votes Abstaining: 17,213 * Broker Non-Votes: 5,410,881 PROPOSAL 5. The Company's stockholders ratified the appointment of Ernst & Young LLP as the Company's independent registered public accounting firm for the fiscal year ending December 31, 2026. The results of the stockholders' vote with respect to such ratification were as follows: * Votes For: 16,695,588 * Votes Against: 86,550 * Votes Abstaining: 59,428 About Karyopharm Therapeutics Karyopharm Therapeutics Inc. operates as an oncology-focused pharmaceutical company. The Company offers combination with dexamethasone as a treatment for patients with pretreated multiple myeloma, as well as provides single-agent and combination activity against a variety of human cancers. Karyopharm Therapeutics serves patients in the United States, Germany, and Israel. Boston, Massachusetts-based Ernst & Young LLP, the Company's auditor since 2014, issued a "going concern" qualification in its report dated February 12, 2026, citing that the Company has incurred significant operating losses since inception, expects to incur significant operating losses for the foreseeable future and has stated that substantial doubt exists about the Company's ability to continue as a going concern. As of March 31, 2026, the Company had $131.4 million in total assets, $397 million in total liabilities, and $265.6 million in total stockholders' deficit. KARYOPHARM THERAPEUTICS: OKs Broad-Based Retention Equity Program ----------------------------------------------------------------- Karyopharm Therapeutics Inc. disclosed in a regulatory filing that the Compensation Committee of the Board approved a broad-based retention program designed to support the continued motivation, retention and incentivization of the Company's employees, including the Company's named executive officers and Chief Financial Officer. Under the Retention Program, eligible employees will receive two retention equity awards in the form of performance-based restricted stock units granted under the Amended 2022 Plan, effective as of May 31, 2026. One PSU award will vest in full upon the achievement of a specified clinical milestone. The second PSU award will vest based on the achievement of two specified milestones, with 50% of such award vesting upon achievement of each milestone. Vesting of the PSU awards is also subject to the applicable participant's continued service through the applicable vesting dates, with the Second PSU Award also subject to the requirement that stockholders approve a subsequent increase in the available shares under the Amended 2022 Plan on or prior to May 31, 2027. The following PSU awards were approved for the following named executive officers and the Chief Financial Officer: (i) Dr. Reshma Rangwala, Executive Vice President, Chief Medical Officer and Head of Research - 150,000 PSUs for each of the First PSU Award and the Second PSU Award; (ii) Lori Macomber, Executive Vice President, Chief Financial Officer and Treasurer - 130,000 PSUs for each of the First PSU Award and the Second PSU Award; and (iii) Stuart Poulton, Executive Vice President, Chief Development Officer - 130,000 PSUs for each of the First PSU Award and the Second PSU Award. In addition, on May 22, 2026, the Board, upon the recommendation of the Committee, approved two PSU awards to Richard Paulson, President and Chief Executive Officer, also effective as of May 31, 2026, consisting of 343,000 PSUs for each of the First PSU Award and the Second PSU Award. In addition, on May 22, 2026, the Board approved a further amendment to the Amended 2022 Plan that will increase the available shares under the Amended 2022 Plan by 950,000, with such amendment subject to approval of the Company's stockholders on or prior to May 31, 2027. The aggregate number of shares subject to the PSU awards granted to all eligible employees under the Retention Program, including the PSU awards granted to the named executive officers and the Chief Financial Officer, will be 3,838,380. About Karyopharm Therapeutics Karyopharm Therapeutics Inc. operates as an oncology-focused pharmaceutical company. The Company offers combination with dexamethasone as a treatment for patients with pretreated multiple myeloma, as well as provides single-agent and combination activity against a variety of human cancers. Karyopharm Therapeutics serves patients in the United States, Germany, and Israel. Boston, Massachusetts-based Ernst & Young LLP, the Company's auditor since 2014, issued a "going concern" qualification in its report dated February 12, 2026, citing that the Company has incurred significant operating losses since inception, expects to incur significant operating losses for the foreseeable future and has stated that substantial doubt exists about the Company's ability to continue as a going concern. As of March 31, 2026, the Company had $131.4 million in total assets, $397 million in total liabilities, and $265.6 million in total stockholders' deficit. KOOKY MOOSE: Seeks Chapter 7 Bankruptcy in Alaska ------------------------------------------------- On June 4, 2026, Kooky Moose Energy, LLC filed for Chapter 7 protection in the U.S. Bankruptcy Court for the District of Alaska. According to court filings, the Debtor reports between $1 million and $10 million in debt owed to between 1 and 49 creditors. About Kooky Moose Energy, LLC Kooky Moose Energy, LLC is an energy company engaged in the development, production, and distribution of energy-related products and services. Kooky Moose Energy, LLC sought relief under Chapter 7 of the U.S. Bankruptcy Code (Bankr. Case No. 26-00136) on June 4, 2026. In its petition, the Debtor reports estimated assets of $100,001 to $1 million and estimated liabilities of $1 million to $10 million. LAUREN ASHLEY: Seeks to Tap Davis Ermis & Roberts PC as Counsel --------------------------------------------------------------- Lauren Ashley Real Estate LLC seeks approval from the U.S. Bankruptcy Court for the Northern District of Texas to employ Davis, Ermis & Roberts, PC as counsel. The firm will render these services: (a) give the Debtor legal advice with respect to its powers and duties in the continued operation of the business and management of its property; (b) prepare on behalf of the Debtor necessary legal papers; and (c) perform all other legal services for the Debtor which may be necessary. The firm's counsel and staff will be paid at these hourly rates: Craig Davis, Attorney $650 Legal Assistants $120 Mr. Davis disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Craig D. Davis, Esq. Davis, Ermis & Roberts, PC 2000 E. Lamar Blvd., Ste. 780 Arlington, TX 76006 Telephone: (972) 263-5922 Facsimile: (972) 262-3264 About Lauren Ashley Real Estate LLC Lauren Ashley Real Estate LLC filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Tex. Case No. 26-42130) on May 15, 2026, listing $100,001 to $500,000 in both assets and liabilities. Judge Edward L Morris presides over the case. Craig D. Davis, Esq. at Davis, Ermis & Roberts, PC serves as the Debtor's counsel. LEARNING CARE: S&P Alters Outlook to Negative, Affirms 'B-' ICR --------------------------------------------------------------- S&P Global Ratings revised our outlook on Learning Care Group (US) No. 2 Inc. to negative from stable. At the same time, S&P affirmed all its ratings on the company, including the 'B-' issuer credit rating and its 'B-' issue-level rating on its $900 million senior secured term loan B. The negative outlook indicates that S&P could downgrade the company if it is unable to address its upcoming debt maturities or it comes to view its capital structure as unsustainable. Learning Care faces increasing refinancing risk due to the approaching maturity of its $1.015 billion senior secured credit facility in August 2028. In addition, the company's enrollment has remained challenged, which is creating a reduced window for it to improve its operations prior to refinancing. S&P expects the company's S&P Global Ratings-adjusted leverage will remain elevated at more than 8.0x during fiscal years 2026 and 2027. The negative outlook reflects the elevated refinancing risk from Learning Care's approaching near-term maturities. The company's debt structure comprises two main components, a $1.015 billion credit facility (a $900 million term loan and a $115 million revolver) maturing in August 2028 and payment-in-kind (PIK)-bearing preferred equity, which S&P incorporates in its adjusted measure of its debt. Learning Care's leverage remains elevated due to the combination of its accruing preferred equity balance, sustained modest revolver utilization, and moderated EBITDA. Consequently, our adjusted leverage projections for the company remain above 8.0x in 2026 and 2027. S&P said, "We view the upcoming back-to-school season as a critical inflection point for assessing Learning Care's performance through the next academic year. While our current base-case forecast assumes a stabilizing performance during the 2026-2027 back-to-school period--underpinned by the non-discretionary nature of childcare--weakness in the company's enrollment could pressure its refinancing timeline and success." Learning Care's center utilization remains pressured. The company continues to experience weaker-than-expected enrollment, which management attributes primarily to affordability headwinds and waitlist pressures in select states impacting families who qualify for government subsidies. Inflationary pressures and elevated interest rates may be driving families toward lower-cost, small-scale operators, alternatives such as family members and friends, or informal arrangements to address their childcare needs. While Learning Care's historical student turnover remains low, its utilization levels have compressed to the low-60% range. Although the childcare sector is facing difficulties, S&P's base case assumes enrollment headwinds subside and the company modestly increases its revenue in fiscal 2027. This outlook is predicated on increasing momentum in new family registrations that the company is currently achieving and the fundamental, non-discretionary nature of childcare demand, which continues to outpace available supply. Increasing utilization remains a key strategic priority, given that higher occupancy levels will support material operating leverage improvements and margin expansion. Learning Care's EBITDA margins have contracted over the past few years because of the end of COVID-related cost-offsetting grants, increased marketing, and lower utilization, which has diminished its center-level efficiency. Although the company maintains a degree of cost flexibility, its fixed staffing requirements create a "step function" in the cost structure; specifically, the cost to supervise a smaller cohort is comparable to that of a larger one, making its operating leverage highly sensitive to specific utilization thresholds. S&P said, "We anticipate that stabilizing to moderately improving utilization in fiscal 2027 (ending June 2027) will yield a modest approximately 100 bps expansion in Learning Care's margin. Consequently, we expect the company's adjusted margins will remain in the low-20% range, though we note that improved enrollment and utilization trends could support favorable operating leverage and lead to a more material EBITDA expansion." S&P said, "We maintain our adequate assessment of Learning Care's liquidity, supported by its ability to scale back its capital expenditure (capex) to preserve cash. We estimate that only one-third of the company's total capex is required for maintenance, which would potentially enable it to defer a significant portion of its discretionary spending if needed. Learning Care demonstrated this flexibility in the third quarter of 2026 (quarter ended March 2026), when it materially reduced its capex to $9 million (from $25 million the prior year) to support its cash flow profile. Furthermore, we expect the company will maintain access to the $115 million revolver, of which approximately $100 million remains available. While Learning Care's cash flow is subject to seasonality--typically characterized by cash burn in the first half of the year and generation in the second--we anticipate it will report adequate cash flows in the fourth quarter sufficient to support our liquidity assessment." Learning Care benefits from being one of the largest childcare operators in the U.S. Given that the industry is highly fragmented, the company benefits from a competitive advantage and economies of scale as the second-largest U.S. operator with a diverse school portfolio and geographic footprint, including 11 brands and 1,100 child care centers. Additionally, Learning Care derives about one-third of its revenue from state and federal budgets through various subsidy programs, which provides some revenue stability even during an economic downturn. Public support for key government child care grants, such as the Child Care and Development Block Grant, also remains robust. S&P said, "The negative outlook reflects Learning Care's sustained challenging operating environment, which we expect will weigh on its performance over the next 12-24 months and heighten its refinancing risk. We anticipate the company's leverage will remain elevated at about 8.0x over the next 12 months." S&P could lower its ratings if Learning Care is unable to address its upcoming debt maturities or S&P comes to view its capital structure as unsustainable. This could occur if: -- Its liquidity weakens due to softer-than-expected enrollment and utilization, leading to operating cash flow deficits; -- The company's cash interest coverage declines below 1.5x, which would likely stem from a weakening operating performance; or -- It undertakes a distressed debt transaction. We note that the company's senior secured loan is trading well below par, heightening the risk of such a transaction. S&P could revise its outlook on Learning Care to stable if it successfully refinances its approaching maturities or improves its performance such that we expect it will be able to successfully refinance. While S&P doesn't anticipate an upgrade over the next year, S&P could raise its rating if S&P believes the company will: -- Maintain leverage of below 6x; and -- Generate material free operating cash flow to debt of above 5%. This could occur if Learning Care benefits from some combination of enrollment improvements, new center development, and acquisitions funded with cash flow such that it sustains stronger margins. LEGENCE HOLDINGS: S&P Upgrades ICR to 'BB-', Outlook Positive ------------------------------------------------------------- S&P Global Ratings raised all of its ratings on engineering, consulting, installation, and maintenance services provider Legence Holdings LLC, including its issuer credit rating to 'BB-' from 'B+'. The positive outlook reflects S&P's view that it could upgrade Legence over the next 12 months if the company continues to outperform expectations or meaningfully reduce sponsor ownership, while reducing leverage to below 3x and maintaining free operating cash flow (FOCF) to debt above 15%. Legence reported stronger-than-anticipated results in the first quarter of 2026 and raised full-year guidance. S&P believes Legence's financial policy and governance will improve after financial sponsor Blackstone meaningfully reduced its ownership stake to approximately 47% from 72% at the September 2025 IPO. Legence's strong backlog indicates solid operating momentum, after its performance exceeded expectations. Accelerating growth in high technology end markets (which includes data centers), strong demand across mission-critical infrastructure, and successful on-going integration of The Bowers Group drove a stronger-than-expected first-quarter performance. S&P believes the company is well positioned to capture rapidly growing demand for complex heating, ventilation, air conditioning (HVAC) systems in the data center and high-technology sectors due to its early establishment in consulting, engineering, and HVAC installation services. This growth is further supported by increasing fabrication capabilities through the Bowers acquisition in January 2026, with approximately 1.3 million square feet of capacity and a roughly $5.4 billion backlog. After more than 100% growth on a pro-forma basis and 57% growth excluding the Bowers contribution in the first quarter, we expect approximately 63% revenue growth on a pro forma basis for the full year. S&P said, "Following the company's revised guidance due to the strong quarter, we expect adjusted EBITDA to grow approximately 49% to about $450 million in 2026. However, we anticipate slight margin contraction due to the lower-margin profile of Bowers' business. "We believe Legence will effectively execute its strategy amid rapid business expansion. The company's strategy focuses on high-growth end markets, aiming to increase recurring revenue through maintenance contracts following initial consulting and installation phases. This is supported by a strong, long-standing customer base, with the top 10 clients having an average relationship of about 23 years. We believe its disciplined bidding and risk management process demonstrates its execution capabilities, with approximately 80% of jobs meeting or exceeding initial margin estimates. We credit this operational stability to the experienced management team with deep industry knowledge." The expansion of the data center segment presents a significant near- to intermediate-term opportunity, but persistent macroeconomic and operational headwinds in the longer term could temper growth. Massive AI investments continue to funnel into data center infrastructure buildouts, directly benefiting Legence and the overall consulting and installation HVAC segment. S&P said, "We expect Legence will see sustained demand as large technology companies, including Open AI, Amazon Web Services, Oracle, Meta, Microsoft, and Alphabet, have announced numerous multi-year data center projects reaching hundreds of billions of dollars through the next two to 10 years. Other participants in the data center space, such as data center providers CoreWeave and Nebius, are also benefitting from this surge in demand, which we expect will continue to flow through to HVAC companies involved in the data center space." S&P said, "However, we believe there are potential risks associated with supply-side physical and logistical constraints when it comes to data centers, including long lead times, limited suitable land, rising development costs, and challenges related to the availability of power. Data center and technology customers account for about 62% of Legence's overall revenues and make up a majority of top 10 revenue contributors. This leads to potential long-term risks if AI spending slows, data center providers utilize internal consulting and HVAC installation services, competition for specialized technical talent intensifies, or it faces challenges in scaling service delivery to meet rapid deployment timelines. The upgrade reflects improving governance and financial policy assessments as Blackstone reduces its ownership stake. The private-equity sponsor has reduced its ownership to approximately 47% from approximately 72% at the time of the 2025 IPO. S&P expects the sponsor to continue selling down ownership and eventually relinquish decision-making rights in the near to intermediate term (two out of six board seats). S&P said, "Legence used IPO proceeds to reduce debt in 2025 and we believe the company would utilize its cash flows for growth initiatives, including acquisitions or further debt paydowns rather than share repurchases or dividends for the foreseeable future. After ending fiscal-year 2025 with S&P Global Ratings-adjusted leverage of 4x (down from 7.8x in fiscal 2024), we expect the company to continue to improve leverage, driven by recent deleveraging trends and outsized EBITDA growth. "We do not anticipate any large acquisitions over the next several quarters. However, we expect the company to pursue similar-sized acquisitions once the Bowers integration is complete and continue its tuck-in acquisition strategy in the near term. We believe the company will maintain a prudent financial policy, keeping leverage below 4x on an S&P Global Ratings-adjusted basis even when pursuing larger acquisitions. "The positive outlook reflects our expectation Legence could continue to outperform expectations, improve its financial governance from decreasing sponsor ownership, and reduce leverage to below 3x while maintaining FOCF to debt above 15%." S&P could revise its outlook to stable if it expects the company to manage leverage above 3x or FOCF to debt below 15%. This could occur if: -- The company's performance deteriorates below S&P's base-case scenario and keeps credit metrics elevated; -- S&P views financial governance as less favorable due to leveraging acquisitions, dividends, or shareholder returns; or -- The company experiences issues integrating newly acquired companies. S&P could raise its rating on Legence if it continues expanding its top line by profitably integrating its acquisitions and growing organically, its financial sponsor meaningfully reduces ownership, and it sustains S&P Global Ratings-adjusted leverage below 3x and FOCF to debt above 15%. Under this scenario, S&P would expect the company to: -- Refrain from pursuing aggressive debt-funded shareholder returns or acquisitions without commensurate EBITDA contributions; and -- Continue increasing its S&P Global Ratings-adjusted EBITDA. LEWIS TOWING 2: Seeks Chapter 11 Bankruptcy in California --------------------------------------------------------- On June 3, 2026, Lewis Towing 2 Inc. filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Eastern District of California. According to court filings, the Debtor reports between $1 million and $10 million in debt owed to between 1 and 49 creditors. About Lewis Towing 2 Inc. Lewis Towing 2 Inc. is a towing and vehicle recovery company providing roadside assistance and transport services. Lewis Towing 2 Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-12633) on June 3, 2026. In its petition, the Debtor reports estimated assets of $1 million to $10 million and estimated liabilities of $1 million to $10 million. The Honorable Bankruptcy Judge Jennifer E. Niemann handles the case. The Debtor is represented by Joseph A. West, Esq., of The West Law Firm of California Inc. LITTLE DOLLAR: Commences Chapter 11 Bankruptcy in Georgia --------------------------------------------------------- On June 2, 2026, Little Dollar Inc. filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Northern District of Georgia. According to court filings, the Debtor reports between $100,001 and $1,000,000 in debt owed to approximately 1–49 creditors. A meeting of creditors under Section 341(a) to be held on July 6, 2026 at 09:00 AM via Telephone conference. To attend, Dial 888-330-1716 and enter access code 6960876. Chapter 11 Reorganization Plan and Disclosure Statement must be filed by September 30, 2026. About Little Dollar Inc. Little Dollar Inc. is a business enterprise engaged in commercial operations and related business activities. The company serves customers through its retail and consumer-focused operations. Little Dollar Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-57305) on June 2, 2026. In its petition, the Debtor reported estimated assets of $100,001–$1,000,000 and estimated liabilities of $100,001–$1,000,000. LONESOME DOVE: Hires Arsement Redd Gardner Benoit as Accountant --------------------------------------------------------------- Lonesome Dove Land Company, LLC seeks approval from the U.S. Bankruptcy Court for the Western District of Louisiana to employ Arsement Redd Gardner Benoit, LLC, as certified public accountants. The firm will assist the Debtor with the preparation federal and state tax returns. The hourly rate charged by the accountant is $220. The Debtor further agrees to compensate the firm for out-of-pocket expenses it incurs, including the $75 electronic tax return filing fee. Arsement Redd Gardner Benoit, LLC is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code, is a disinterested person within the meaning of 11 U.S.C. 101(14). The firm can be reached through: Stephen J. Arsement, CPA Arsement Redd Gardner Benoit, LLC 701 Robley Drive, Suite 200 Lafayette, LA 70503 Phone: (337) 984-7010 Email: receptionist@argb.cpa About Lonesome Dove Land Company LLC Lonesome Dove Land Company, LLC filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. W.D. La. Case No. 25-51023) on November 4, 2025, listing $1,000,001 to $10 million in both assets and liabilities. Judge John W. Kolwe presides over the case. Noel Steffes Melancon, Esq., at The Steffes Firm, LLC represents the Debtor as counsel. LOTUS TECHNOLOGY: Names Joe Zhang Board Chairman ------------------------------------------------ Lotus Technology Inc.'s board appointed Joe Quan Zhang as a member and chairman, effective June 3, the company said in a Form 6-K filing with the Securities and Exchange Commission. Zhang also was appointed chairman of the board's compensation committee and nominating and corporate governance committee. He succeeded Daniel Donghui Li, who stepped down from the board, as chairman and from board committees effective May 31 for personal reasons. Li had served on the board since the company's inception. Zhang is vice president and chief financial officer of Zhejiang Geely Holding Group, with more than a decade of board and global executive leadership experience in corporate finance and strategic management. About Lotus Technology Lotus Technology Inc., headquartered in Shanghai, People's Republic of China, is an intelligent and luxury mobility provider with operations across the U.K., the European Union and China. The company is dedicated to delivering luxury lifestyle electric vehicles and focuses on research and development in next-generation automobility technologies, including electrification and digitalization. Grant Thornton Zhitong Certified Public Accountants LLP, in an April 28, 2026, audit report, raised substantial doubt about Lotus Technology's ability to continue as a going concern, citing losses since inception, a $3.16 billion accumulated deficit as of Dec. 31, 2025, current liabilities exceeding current assets by $1.49 billion and $334 million in net cash used in operating activities for 2025. Lotus Technology reported total assets of $1.95 billion, total liabilities of $3.28 billion and a stockholders' deficit attributable to ordinary shareholders of $1.32 billion as of Dec. 31, 2025. LURIN REAL ESTATE: Gets Interim OK to Use Cash Collateral --------------------------------------------------------- The U.S. Bankruptcy Court for the Southern District of Texas, Houston Division, entered an interim order authorizing Lurin Real Estate Holdings XXI, LLC's affiliates to use the cash collateral of the Federal National Mortgage Association (Fannie Mae). Under the interim order, Lurin Real Estate Holdings XXVI, LLC and Lurin Real Estate Holdings XXII, LLC are authorized to use cash collateral to pay administrative and operating expenses for their respective properties based on an approved budget, subject to a 10% variance. These expenses do not include capital improvements and extraordinary maintenance expenses. Fannie Mae's cash collateral consists of rents from the Debtors' real properties and all other income the Debtors generate. It holds a first-position lien on the real properties and other assets of the Debtor including personal property and cash collateral. As of the petition date, the Debtors owed Fannie Mae at least $77.22 million, plus default interest, legal fees, and other charges under their loan agreement. As protection for any diminution in the value of its collateral, Fannie Mae will receive a replacement lien on any real or personal property of the Debtors' estate including rents, which the Debtor acquired after the petition date. In case the replacement liens prove to be insufficient, Fannie Mae will receive a superpriority administrative expense claim, subject to the fee carveout but have priority over all other administrative expense claims. As a condition of using Fannie Mae's cash collateral, the Debtors must make monthly non-default interest payments within 90 days of the petition date and secure a final, non-appealable orders approving the sale of their respective properties by October 8. Events of default include unauthorized use of cash collateral, failure to provide insurance by October 8, missed payments, exceeding permitted variance, failing to report financially, not maintaining insurance or paying taxes, and missing the milestone. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/jeFw2 from PacerMonitor.com. The Debtors own and operate two multifamily apartment properties in Pensacola, Florida (the Palmiere Property and Lorient Property) and entered Chapter 11 on April 21, 2026, while continuing operations as debtors-in-possession. Their capital structure consists primarily of two Federal National Mortgage Association mortgage loans: a $4.45 million loan secured by the Palmiere Property and a $26.74 million loan secured by the Lorient property, both maturing in 2034 and guaranteed by a third party, with each loan in default and fully outstanding plus additional interest, fees, and charges. As of the petition date, the Debtors also had relatively modest unsecured debt (approximately $367,509 for Palmiere and $2.84 million for Lorient). About Lurin Real Estate Holdings XXI LLC Lurin Real Estate Holdings XXII, LLC, doing business as The Palmiere, owns a multifamily apartment property in Pensacola, Florida. The property, located at 4435 Marlane Drive, includes 37 apartment units and offers one-, two-and three-bedroom residences. Lurin Real Estate Holdings XXVI, doing business as The Lorient, owns a multifamily apartment property in Pensacola, Florida. The property, located at 110 Creekside Court, includes 216 apartment units and offers one-, two-and three-bedroom residences with amenities including a swimming pool, playground, walk-in closets and patios or balconies. Lurin Real Estate Holdings XXII and Lurin Real Estate Holdings XXVI sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Texas Case Nos. 26-90520 and 26-90521) on April 21, 2026. At the time of the filing, Lurin Real Estate Holdings XXII reported between $1 million and $10 million in both assets and liabilities while Lurin Real Estate Holdings XXVI reported between $10 million and $50 million in both assets and liabilities. Honorable Bankruptcy Judge Alfredo R. Perez handles the cases. The Debtors are represented by Joshua W. Wolfshohl, Esq., at Porter Hedges, LLP. M & F HEALTHCARE: Joseph Cotterman Named Subchapter V Trustee ------------------------------------------------------------- The U.S. Trustee for Region 14 appointed Joseph Cotterman as Subchapter V trustee for M & F Healthcare Properties. Mr. Cotterman will be paid an hourly fee of $500 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Cotterman declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Joseph E. Cotterman 5232 W. Oraibi Drive Glendale, AZ 85308 Telephone: 480-353-0540 Email: cottermail@cox.net About M & F Healthcare Properties M & F Healthcare Properties sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Ariz. Case No. 26-05229) on May 27, 2026. Judge Scott H. Gan presides over the case. MAKIIN LLC: Catherine Stone Curtis Named Subchapter V Trustee ------------------------------------------------------------- The U.S. Trustee for Region 7 appointed Catherine Stone Curtis as Subchapter V trustee for MaKiin LLC. Ms. Curtis will be paid an hourly fee of $450 for her services as Subchapter V trustee, and will be reimbursed for work-related expenses incurred. Ms. Curtis declared that she is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Catherine Stone Curtis MCGINNIS LOCHRIDGE P.O. Box 720788 McAllen, TX 78504 Ph: (956) 489-5958 Fax: (956) 331-2304 Email: ccurtis@mcginnislaw.com About MaKiin LLC MaKiin LLC operates a Thai dining concept in Houston, Texas, at Hanover in River Oaks. The restaurant offers Thai plates with modern and inventive elements, along with Thai High Tea and gluten-free, vegetarian, and vegan menu options. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Texas Case No. 26-33560) on May 20, 2026, with $68,421 in assets and $1,294,798 in liabilities. Warattayar Srasrisuwan, director and sole owner, signed the petition. Judge Jeffrey P. Norman presides over the case. Elias Yazbeck, Esq. at THE LAW OFFICE OF ELIAS M. YAZBECK, PLLC represents the Debtor as legal counsel. MANNING LAND: Hires Roxborough Pomerance Nye as Appellate Counsel ----------------------------------------------------------------- Manning Land Company, LLC seeks approval from the U.S. Bankruptcy Court for the Central District of California to employ Roxborough Pomerance Nye & Adreani, LLP as special appellate counsel. The firm will provide appellate work on Salvatore Anthony DiMaria, Manning Beef, et al., vs. Linkun Investment, Inc. -- Case No. B336057 pending in the Second Appellate District. The firm will be paid at these rates: Nicholas P. Roxborough, Partner $850 Joseph Gjonola, Partner $450 Paralegals $195 The firm received a retainer for its services to be rendered. The entire $100,000 to fund the flat fee was conveyed to the Firm prior to the filing of Debtor's Petition and was placed in the firm's client trust account. The Roxborough Pomerance Nye & Adreani, LLP is a "disinterested person" as that term is defined in section 101(14) of the Bankruptcy Code, as modified by section 1107(b) of the Bankruptcy Code, according to court filings. The firm can be reached through: Nicholas P. Roxborough, Esq. Joseph C. Gjonola, Esq. ROXBOROUGH, POMERANCE, NYE & ADREANI, LLP 5900 Canoga Avenue, Suite 450 Woodland Hills, CA 91367 Tel: (818) 992-9999 Fax: (818) 992-9991 Email: npr@rpnalaw.com jcg@rpnalaw.com About Manning Land Company, LLC Manning Land Company, LLC is a single asset real estate company. Manning Land Company, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-10731) on January 27, 2026. In its petition, the Debtor reports estimated assets ranging from $10MM to $50MM and estimated liabilities in the same range. Honorable Bankruptcy Judge Vincent P. Zurzolo handles the case. The Debtor is represented by Lewis R. Landau, Esq. MAR ENTERPRISES: Seeks to Hire Marcos D. Oliva PC as Counsel ------------------------------------------------------------ MAR Enterprises, LLC seeks approval from the U.S. Bankruptcy Court for the Southern District of Texas to employ Marcos D. Oliva, PC, doing business as Oliva Law, as counsel. The firm will provide these services: (a) advise the Debtor of its rights and duties; (b) prepare and file all schedules, statements, and reports; (c) represent in connection with Cash Collateral and stay litigation; (d) development and confirmation of a Subchapter V Plan of Reorganization. The total fixed fee for standard services through plan confirmation is $15,000. To facilitate the emergency filing, the firm advanced the $1,738 filing fee from its own funds. On May 12, 2026, the Debtor tendered a $5,000 payment post-petition. The remaining $10,000 balance shall be paid in monthly installments of $1,000 per month from operating revenue, commencing 30 days after the Petition Date, subject to Court approval under Secs. 330 and 331. Marcos Oliva 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: Marcos D. Oliva, Esq. Marcos D. Oliva, PC 223 W. Nolna Blvd. McAllen, TX 78504 Telephone: (956) 683-7800 Facsimile: (956) 868-4224 Email: marcos@oliva.law About MAR Enterprises LLC MAR Enterprises, LLC operates a logistics and trucking business. MAR Enterprises filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. S.D. Tex. Case No. 26-70123) on May 4, 2026, with up to $500,000 in assets and up to $1 million in liabilities. Melissa Haselden, Esq., at Haselden Farrow, PLLC serves as Subchapter V trustee. Judge Eduardo V. Rodriguez oversees the case. Marcos Demetrio Oliva, Esq., at Marcos D. Oliva, PC represents the Debtor as counsel. MARELLI CORP: Wins $300MM DIP Extension, Plans Aug. 1 Reorg. Filing ------------------------------------------------------------------- Rick Archer of Law360 Bankruptcy Authority reports that automotive parts manufacturer Marelli Corp. informed a Delaware bankruptcy court that it expects to submit a Chapter 11 reorganization plan by August 1, 2026, following court approval of an extension tied to its approximately $300 million DIP financing. The company said the extension provides critical liquidity while it advances restructuring efforts. According to counsel, Marelli continues to engage with creditor groups and other parties in interest regarding the terms of its reorganization. The debtor is pursuing a balance-sheet restructuring designed to reduce financial obligations while preserving ongoing business operations and customer relationships throughout the bankruptcy process. A leading supplier of automotive electronics, lighting systems, and other vehicle components, Marelli entered Chapter 11 seeking to address significant debt and operational challenges. The company now hopes to use the extended financing period to finalize a plan that will support a successful emergence from bankruptcy, the report states. About Marelli Marelli is a "Tier 1" automotive supplier and one of the largest automotive components suppliers in the world. Headquartered in Saitama, Japan, Marelli operates in 24 countries around the world and supplies over 65 OEMs and brands such as Stellantis, Nissan, Volkswagen, BMW, and Mercedes Benz. With around 45,000 employees worldwide, the Marelli footprint includes over 150 sites globally. In 2024, Marelli generated over $10 billion of revenue. On June 11, 2025, Marelli Holdings Co. Ltd. and its affiliates commenced voluntary chapter 11 cases (Bankr. D. Del. Lead Case No. 25-11034). The cases are pending before the Honorable Judge Craig T. Goldblatt in Delaware. Around 80% of the Company's lenders have signed an agreement to support the Company' Chapter 11 restructuring in the U.S., which will deleverage Marelli's balance sheet and strengthen its liquidity position. Kirkland & Ellis LLP is serving as legal counsel to Marelli. PJT Partners Inc. is serving as financial advisor, and Alvarez & Marsal LLC is serving as restructuring advisor to Marelli. Verita Global, formerly KCC, is the claims agent. Akin Gump Strauss Hauer & Feld LLP, Houlihan Lokey, and AlixPartners LLP are serving as advisors to the ad hoc group of lenders. MAWSON INFRASTRUCTURE: Marshall Appeal Can't Proceed to Mediation ----------------------------------------------------------------- The Hon. Jennifer L. Hall of the U.S. District Court for the District of Delaware accepted Magistrate Judge Christopher J. Burke's recommendation that the appeal styled Marshall Investments GCP Pty Ltd. (f/k/a Marshall Investments MIG Pty Ltd) as trustee for the Marshall Investments MIG Trust, Appellant, v. Mawson Infrastructure Group, Inc., Appellee, Case No. 25-cv-01196-JLH (D. Del.) be withdrawn from the mandatory referral for mediation and proceed through the appellate process of this Court. Marshall Investments GCP Pty Ltd. (f/k/a Marshall Investments MIG Pty Ltd) appeals from the order granting Mawson Infrastructure Group Inc.'s Motion for a Bond Pursuant to 11 U.S.C. Sec. 303(e), entered on September 11, 2025, by the U.S. Bankruptcy Court for the District of Delaware. A copy of the Court's Order dated May 29, 2026, is available at http://urlcurt.com/u?l=gZxcB0from PacerMonitor.com. About Mawson Infrastructure Group Mawson is a U.S.-based technology company that designs, builds, and operates next-generation digital infrastructure platforms. Previously, Mawson Infrastructure Group's creditors filed a Chapter 11 involuntary petition against the company (Bankr. D. Del. Case No. 24-12726) on Dec. 4, 2024. The petitioning creditors include W Capital Advisors Pty Ltd, Marshall Investments MIG Pty Ltd, and Rayra Pty Ltd. On November 4th, 2025, the United States Bankruptcy Court for the District of Delaware issued a written Order formalizing its ruling from the bench on October 21, 2025, dismissing with prejudice the involuntary bankruptcy petition filed against Mawson. The Order enables Mawson to pursue attorneys' fees and costs, any damages proximately caused by the involuntary petition, and potentially punitive damages against the petitioning creditors. Boston, Massachusetts-based Wolf & Company, P.C., the Company's auditor since 2023, issued a "going concern" qualification in its report dated March 28, 2025, attached to the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2024, citing that the Company has 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 September 30, 2025, the Company had $52 million in total assets, $61.4 million in total liabilities, and $9.4 million in total stockholders' deficit. MCLEAN AFFILIATES: Fitch Affirms 'BB+' IDR, Outlook Negative ------------------------------------------------------------ Fitch Ratings has affirmed McLean Affiliates' (McLean) Issuer Default Rating (IDR) and ratings on the series 2020A revenue bonds issued by the Connecticut Health & Educational Facilities Authority on behalf of McLean at 'BB+'. The Rating Outlook is Negative. Entity/Debt Rating Prior ----------- ------ ----- McLean (CT) LT IDR BB+ Affirmed BB+ McLean (CT) /General Revenues/1 LT LT BB+ Affirmed BB+ The 'BB+' rating reflects McLean's stable balance sheet, including more than $20 million of Special Additions & Contingency Fund (SACF) funds pledged to debt service. Cash-to-adjusted debt of 79% at FYE2025 is in line with the upper end of the 'bb' financial profile. Operations have improved materially, with an operating ratio of 104.6% for the second quarter ended March 2026. Fitch expects continued expense discipline to drive further improvement, with operating ratios approaching 100% over time. The Negative Outlook reflects uncertainty related to McLean's proposed 40-unit independent living unit (ILU) expansion and associated debt, construction, and execution risks. SECURITY The bonds are secured by a gross revenues pledge of the obligated group (OG), a mortgage lien on certain properties, a debt service reserve fund, and an unconditional and irrevocable guarantee from the SACF, the unrestricted endowment of the McLean Fund (an affiliated non-OG entity). KEY RATING DRIVERS Revenue Defensibility - 'bbb' Favorable Location; Improving Occupancy McLean has historically enjoyed adequate census levels which Fitch attributes to its favorable local reputation, desirable location with access to an adjacent country club (located on property owned by McLean), and its wildlife refuge. McLean's ILU occupancy was strong at 94% at the end of March 2026, improved from 85% at FYE2022. McLean has seen improvement in ILU and assisted living unit (ALU) occupancy since summer 2023. The demand strength for new ILUs supports management's potential expansion plans, mitigating concerns over fill-up risk. McLean averaged 97% occupancy in its ILUs, 89% in its ALUs, and 83% in its skilled nursing facility (SNF) licensed beds during FY25. The recently completed Goodrich project is viewed positively because it has increased McLean's ILU revenues, enhanced amenities, and right-sized unit mix between its three offered service lines. Fitch expects an additional ILU expansion (currently in preplanning stages) to prove accretive over time as well. McLean distinguishes itself in a modestly competitive market with its unique campus and good location. Rate increases occur regularly, indicating midrange pricing flexibility. Operating Risk - 'bb' Compressed Margins in Recent Years McLean's operating metrics have weakened in recent years. Historically, McLean's strong census and low debt produced adequate core operations, with an average operating risk (OR) and net operating margin (NOM) of 94.3% and 4.3%, respectively, from fiscal years 2016 to 2021. In 2022, ALU occupancy fell to 65% and macro labor costs increased. Despite increased revenue from the 55 additional Goodrich ILUs, profitability ratios were weak in FY22 and FY23 with OR at 107% and 117% and NOM at -8.3% and -12.2%, respectively. Cost containment measures successfully improved the OR to 110.7% for FY25 and 104% for 2Q26. Fitch expects ratios to continue improving as McLean reduces operating expenses. Capital-related metrics are consistent with the weak assessment, with average revenue-only maximum annual debt service (MADS) coverage and MADS as a percentage of revenue of 0.1x and 10.1%, respectively, from FY21 through FY25. Debt-to-net available has fluctuated over the past several years, with expectations to stabilize below 10x over the coming years (assuming no additional long-term debt). Debt to net available improved to 8.2x for FY25. The OR profile is constrained by McLean's high reliance on governmental payors with Medicaid exceeding 25% of its payor mix over the past several years. Financial Profile - bb McLean's unrestricted reserves (including its SACF) measured approximately $36 million at FYE25, which translates into 380 days cash on hand and about 79% cash-to-adjusted debt. Fitch-calculated MADS coverage of 2x for FY25 (including $3.9 million in ERC funds) and 0.7x without ERC funds. Management expects coverage above the minimum 1.2x in FY26. Fitch's forward-looking scenario assumes that cost containment measures in place continue to reduce operating expenses over the next several years while revenue continues to increase incrementally. The stress case, which applies operational and portfolio stresses, pushes cash-to-adjusted debt below 70% which is more consistent with the 'BB+' overall rating. Asymmetric Additional Risk Considerations Medicaid contributes greater than 25% of McLean's net SNF revenues, constituting an asymmetric risk and constraining the OR assessment. RATING SENSITIVITIES Factors that Could, Individually or Collectively, Lead to Negative Rating Action/Downgrade - Sustained operating pressures that result in OR consistently above 105%; - ILU occupancy sustained below 90%; - Long-term debt issuance that pushes cash-to-adjusted debt below 60%. Factors that Could, Individually or Collectively, Lead to Positive Rating Action/Upgrade - The Outlook may be revised to Stable if plans for the potential expansion are finalized with expectations for cash-to-adjusted debt remaining above 75% throughout the stress case. PROFILE McLean operates a Type C (fee-for-service) life plan community (LPC) and provides home care, hospice, adult day care, and Meals on Wheels services. The LPC includes 126 ILUs (10 cottages, 13 villas and 103 apartments), 52 ALUs, and 72 SNF beds. McLean is affiliated with two non-obligated group entities: the McLean Game Refuge and the McLean Fund. The Refuge is a nonprofit dedicated to protecting native wildlife and owns more than 4,400 acres in Simsbury, Granby, and Canton. The McLean Fund supports McLean and its affiliates and owns land adjacent to the LPC campus. Fitch's analysis includes unrestricted investments held in SACF, the McLean Fund's board-designated endowment, given its sole purpose of supporting McLean and its affiliates and its guarantee of timely principal and interest payments on the series 2020 bonds. Sources of Information In addition to the sources of information identified in Fitch's applicable criteria specified below, this action was informed by data from DIVER by Solve. Climate Vulnerability Signals The results of its Climate.VS screener did not indicate an elevated risk for McLean, CT. ESG Considerations The highest level of ESG credit relevance is a score of '3', unless otherwise disclosed in this section. A score of '3' means ESG issues are credit-neutral or have only a minimal credit impact on the entity, either due to their nature or the way in which they are being managed by the entity. Fitch's ESG Relevance Scores are not inputs in the rating process; they are an observation on the relevance and materiality of ESG factors in the rating decision. MERCHANTS BANCORP: Moody's Affirms Ba1 Local Currency Issuer Rating ------------------------------------------------------------------- Moody's Ratings has affirmed the ratings and assessments of Merchants Bancorp and its lead bank subsidiary, Merchants Bank of Indiana (together "Merchants"). Merchants Bank of Indiana has a long-term local currency issuer rating of Ba1 and long-term and short-term local currency bank deposit ratings of Baa1/Prime-2, together with a Baseline Credit Assessment (BCA) of baa3 and an Adjusted BCA of baa3. Merchants Bank of Indiana also has long-term and short-term Counterparty Risk Assessments of Baa2(cr)/Prime-2(cr) and long-term and short-term local currency and foreign currency Counterparty Risk Ratings of Baa3/Prime-3. The holding company Merchants Bancorp has a Ba2 long-term local currency issuer rating, a Ba3 (hyb) local currency preferred stock non-cumulative rating and a (P)Ba3 local currency preferred shelf non-cumulative rating. The outlooks on the long-term local currency bank deposit and issuer ratings of Merchants Bank of Indiana and the outlook on the long-term local currency issuer rating of Merchants Bancorp remain stable. RATINGS RATIONALE Merchants' ratings were affirmed based on its reduced commercial real estate (CRE) concentration, healthy pre-provision earnings profile and improving credit quality metrics, but these favorable trends are counterbalanced by Merchants' continued modest on-balance-sheet liquidity and comparatively low tangible common equity/risk-weighted assets ratio on a Moody's Ratings-adjusted basis (TCE/RWA). With respect to liquidity, Merchants holds comparatively less cash and investment securities than other rated US banks, but its emphasis on loans with government-agency eligibility, such as affordable housing multifamily loans and a large mortgage warehouse portfolio, results in quickly turning assets. In addition, Merchants' funding mix includes a sizable base of custodial deposits from its mortgage warehouse clients that have contractual notice periods, typically 180 days, before a client is able to withdraw funds. That provides Merchants time to access contingent funding sources or not replenish maturing short-duration assets in the event of anticipated sizable deposit withdrawals. Merchants' insured deposit levels are also high, with only 27% of total deposits uninsured at March 31, 2026. Each of these attributes somewhat mitigate Merchants' modest on-balance-sheet liquidity and its comparative lack of granular retail/commercial client operating accounts. Regarding Merchants' capitalization, it has improved in recent years but declined modestly in Q1 2026. Regulators terminated a Memorandum of Understanding (MOU) with Merchants Bank of Indiana during the quarter, which is a positive development, but it likely gives management the flexibility to manage capital more tightly. For example, Merchants' TCE/RWA ratio was 9.4% at March 31, 2026, down from 9.9% at year-end 2025. Favorably, Merchants' securities portfolio has a minimal level of unrealized losses owing to its short duration, so if long-term interest rates climb further, its economic capital metrics will not weaken, unlike those of many rated banks. With respect to CRE, the combination of capital improvement and reduced CRE exposure steadily reduced Merchants' CRE/TCE ratio to 3.5x at March 31, 2026 from a far higher 6.1x at year-end 2023. However, the credit benefits of this decline have been tempered by Merchants' asset quality challenges, characterized by elevated levels of charge-offs and problem loan levels, particularly in 2025. Many of the losses in 2025 emanated from a relatively small number of multifamily relationships where fraud, or alleged fraud, played a role. As a result of the issues it faced, Merchants strengthened its credit underwriting and monitoring processes and procedures, but Moody's expects it will take more time for its problem loan and charge-off levels to return to historic levels. Similarly, higher credit costs weighed on Merchants' net income throughout 2025. In Q1 2026, credit costs remained elevated when compared with Merchants' typical performance, though to a lesser extent. Merchants' earnings profile nonetheless is strong overall and should improve further as credit costs fall, supported by a low cost/income ratio, which Moody's expects will endure. As noted, Merchants' regulators recently terminated an MOU that had been in place since early 2025. The MOU focused in large part on credit risk and capital, so its termination indicates that regulators see Merchants as having improved in those areas, a credit positive that Moody's believes reflects strengthened risk governance. As a result, Moody's have raised Moody's ESG credit impact score to CIS-3 from CIS-4 to highlight that the potential negative impact from ESG considerations has been reduced, but not eliminated. Moody's also favorably adjusted Merchants' governance issuer profile score to G-3 from G-4. Moody's stable outlooks on the long-term local currency bank deposit and issuer ratings at Merchants Bank of Indiana and on Merchants Bancorp's long-term local currency issuer rating indicate that Moody's expects minimal change in Merchants creditworthiness over the next 12-18 months. For creditors of Merchants Bancorp, further declines in holding company double leverage, which has fallen to 129% as of March 31, 2026 from 133% a year earlier, would be credit positive. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS An upgrade of Merchants' ratings could follow more significant improvement in its credit quality metrics and materially greater on-balance-sheet liquidity while maintaining a TCE/RWA ratio of at least 9.5% throughout the cycle and net income to tangible assets consistently in excess of 1.25%. Merchants' CRE concentration would also need to remain near or below its current level of 3.5x TCE. Separately, Merchants' holding company long-term local currency issuer rating could be upgraded if double leverage receded below 125% and remained there. Merchants' ratings could be downgraded if its credit costs remain elevated, if its CRE concentration grew back above 4.5x TCE, if its profitability does not rebound further and/or if its TCE/RWA ratio dropped below 9.0%. In a scenario where Merchants' ratings were downgraded, its holding company issuer rating could be affirmed at its current level as long as double leverage continues to decline. The principal methodology used in these ratings was Banks published in November 2025. The net effect of any adjustments applied to rating factor scores or scorecard outputs under the primary methodology(ies), if any, was not material to the ratings addressed in this announcement. METICULOUS CLEANING: Hires Karina Pia Lucid as Bankruptcy Counsel ----------------------------------------------------------------- Meticulous Cleaning Services, Inc. seeks approval from the U.S. Bankruptcy Court for the District of New Jersey to employ Karina Pia Lucid, Esq., LLC as its legal counsel. The firm will assist the Debtor in the preparation of a bankruptcy plan and will provide other legal services related to its Chapter 11 case. The firm will be paid at these rates: Karina Lucid, Esq. $500 per hour Staff Attorneys $275 to $425 per hour Paralegals $140 to $275 per hour Legal Assistants $85 per hour The firm received an initial retainer in the sum of $20,217, and $500 in out-of-pocket expenses. Ms. Lucid disclosed in a court filing that she and her firm do not hold any interests adverse to the Debtor's estate. The firm can be reached through: Karina Pia Lucid, Esq. Karina Pia Lucid, Esq., LLC P.O. Box 230 Liberty Corner, NJ 07938-0230 Phone: (908) 350-7505 Email: klucid@karinalucidlaw.com About Meticulous Cleaning Services Inc. Meticulous Cleaning Services, Inc. is a Waldwick, New Jersey-based cleaning company founded in 2006 and locally owned by founder Zerlinda Rodriguez. The Debtor provides residential, commercial, industrial, post-construction, special event, house cleaning, and maid services. Its commercial cleaning work includes trash removal, paper and toiletry restocking, glass spot-cleaning, and hallway vacuuming. Meticulous Cleaning serves residential, commercial and industrial customers in New Jersey, including communities in the Bergen County area. Meticulous Cleaning Services sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.N.J. Case No. 26-14629) on April 27, 2026, with up to $50,000 in assets and $1 million to $10 million in liabilities. Zerlinda Rodriguez, owner, signed the petition. Karina Lucid, Esq., at Karina Pia Lucid, Esq. LLC represents the Debtor as legal counsel. MII AVIATION: Seeks to Extend Plan Exclusivity to Aug. 31 --------------------------------------------------------- MII Aviation Services LLC and affiliates asked the U.S. Bankruptcy Court for the District of Delaware to extend their exclusivity periods to file a plan of reorganization and obtain acceptance thereof to Aug. 31 and Oct. 29, 2026, respectively. Since the Petition Date, the Debtors and their advisors have worked diligently to administer these cases as efficiently as possible to minimize administrative expenses and maximize recoveries. The Debtors are in the process of setting up such mediation among the Committee, the Debtors, and Scintilla Fund LP ("Scintilla," the Prepetition Lender) with respect to final approval of the Debtors' proposed use of cash collateral and other disputes among the parties to such mediation. The Debtors have filed their motion for approval of bidding procedures for the sale of substantially all of their assets with a stalking horse bid from the Prepetition Lender. The Debtors believe that such motion, along with the mediation or litigation, if necessary, of disputes regarding the use of cash collateral have placed the Chapter 11 Cases on track for a successful sale of the Debtors' assets that the Debtors believe will realize the greatest value for the Debtors and their constituents in light of the Debtors' extremely difficult financial condition. Accomplishing these tasks has been a labor-intensive and time-consuming process, fully occupying the Debtors' professionals. The Debtors submit that their progress to date and the nature and extent of activity contemplated for the next couple of months provide ample cause to extend the Exclusive Periods. The Debtors explain that the relief requested herein will facilitate their efforts by providing the Debtors with a full and fair opportunity to resolve open case issues, evaluate certain claims, sell their assets in a manner designed to yield the greatest value possible for the Debtors and their estates under the circumstances, and formulate, draft, propose, and solicit a liquidating plan, if possible, without the distraction of ill formed competing plans. This Motion is the Debtors' first request for an extension of the Exclusive Periods, and the request will not unfairly prejudice or pressure the Debtors' creditor constituencies or grant the Debtors any unfair bargaining leverage. Importantly, the Debtors are not seeking an extension to delay administration of these Chapter 11 Cases or to exert pressure on their creditors, but rather to permit the Debtors additional time to resolve current disputes and issues related to the sale of its assets and any potential plan, facilitate the review of claims, and continue the orderly, efficient, and cost-effective chapter 11 process. Accordingly, the Debtors believe that the requested extension is warranted and appropriate under the circumstances. The Debtors assert that termination of the Exclusive Periods would adversely impact their progress in these Chapter 11 Cases. Simply put, if the requested extensions are denied, upon expiration of the Exclusive Periods, any party-in-interest would be free to propose a plan for the Debtors and solicit acceptances thereof. Such a ruling could foster chaos, significantly delay the Chapter 11 Cases, and impair the Debtors' ability to propose a plan successfully, without any corresponding benefit to the Debtors' estates and creditors. Counsel to the Debtors: Mark L. Desgrosseilliers, Esq. Chipman Brown Cicero & Cole, LLP Hercules Plaza 1313 North Market Street, Suite 5400 Wilmington, DE 19801 Tel: (302) 295-0191 E-mail: desgross@chipmanbrown.com About MII Aviation Services LLC MII Aviation Services, LLC, is an aviation services company that provides aircraft maintenance, repair, and related technical support services to commercial and private aviation clients. MII Aviation Services sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-10123) on February 1, 2026. In its petition, the Debtor reported estimated assets between $1 million and $10 million and estimated liabilities ranging from $10 million to $50 million. Honorable Bankruptcy Judge Laurie Selber Silverstein handles the case. The Debtor is represented by Mark L. Desgrosseilliers, Esq., at Chipman Brown Cicero & Cole, LLP. MILLERTON INC: Eric Huebscher Named Subchapter V Trustee -------------------------------------------------------- The U.S. Trustee for Region 2 appointed Eric Huebscher of Huebscher & Co. as Subchapter V trustee for Millerton Inc. Mr. Huebscher will be paid an hourly fee of $450 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Huebscher declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Eric Huebscher Huebscher & Co. 301 E 87th St. - 20E New York, NY 10128 Phone: 917-763-3891 Email: ehuebscher@huebscherconsulting.com About Millerton Inc. Millerton Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. N.Y. Case No. 26-35567) on May 27, 2026, with $100,001 to $500,000 in assets and $500,001 to $1 million in liabilities. Judge Kyu Young Paek presides over the case. MYRTLE BURGER: Hires Aleinik Law Firm PLLC as Special Counsel ------------------------------------------------------------- Myrtle Burger Urway LLC seeks approval from the U.S. Bankruptcy Court for the Eastern District of New York to employ Aleinik Law Firm PLLC as special counsel. The firm will represent the Debtor regarding the defense of legal action brought by plaintiffs Fredy Hernandez, Oscar Nepomuceno, Carlos Pablo Yaxon, Edgar Yaxon and Laureano Romero against Myrtle Burger Urway LLC. Olga Aleinik, Esq., a partner at Aleinik Law Firm PLLC, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Olga Aleinik, Esq. Aleinik Law Firm PLLC 42 W 38 St. Ste. 1002 New York, NY 10018 Tel: (718) 909-1989 Email: oaleinik@aleiniklaw.com About Myrtle Burger Urway LLC Myrtle Burger Urway LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.Y. Case No. 25-42591) on May 27, 2025, listing under $1 million in both assets and liabilities. Judge Nancy Hershey Lord presides over the case. The Debtor tapped the Law Offices of Alla Kachan, PC as counsel and Estelle Miller, CPA as accountant. NANKE SIGNATURE: Hires Udall Shumway PLC as Bankruptcy Counsel -------------------------------------------------------------- Nanke Signature Group, LLC seeks approval from the U.S. Bankruptcy Court for the District of Arizona to hire Udall Shumway PLC as counsel. The firm will provide these services: a. advise the Debtor to its rights, duties, and powers as a debtor and debtor-in- possession; b. prepare and file statements, schedules, plans, and other documents and pleadings necessary to be filed by the Debtor for purposes or reorganization or that may otherwise be required; c. represent the Debtor at all hearings, meetings of creditors, conferences, trials, and other proceedings in the above captioned case; and d. perform such other legal services as may be necessary in connection with Debtor's case. The firm will be paid at these rates: Attorneys $300 to $475 per hour Paralegals $180 per hour The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Eli Enger, Esq., a partner at Udall Shumway PLC, 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: Joel E. Sannes, Esq. Eli Enger, Esq. Tim Butterfield, Esq. Udall Shumway PLC 138 North Alma School Road, Suite 101 Mesa, AZ 85201 Tel: (480) 461-5300 Fax: (480) 833-9392 Email: jes@udallshumway.com ete@udallshumway.com tdb@udallshumway.com About Nanke Signature Group, LLC Nanke Signature Group, LLC filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. D. Ariz. Case No. 26-05055) on May 21, 2026, listing $100,001 to $500,000 in assets and $500,001 to $1 million in liabilities. Eli T. Enger, Esq. at Udall Shumway PLC serves as the Debtor's counsel. NASSAU COUNTY TOBACCO: S&P Lowers 2006A-2 Bonds Rating to 'D (sf)' ------------------------------------------------------------------ S&P Global Ratings lowered its rating on the Nassau County Tobacco Settlement Corp.'s series 2006A-2 senior bonds to 'D (sf)' and subsequently withdrew the rating following a failure to meet principal payment obligation at legal maturity on June 1, 2026. According to the servicer's report, no principal payments were made on the maturity date. The outstanding principal balance remains approximately $35.92 million. NAUTICUS ROBOTICS: Cuts Loan Conversion Price to $1.80 ------------------------------------------------------ Nauticus Robotics Inc. entered a third amendment to a senior secured term loan agreement that reduced the loan conversion price to $1.80 through June 15, according to a Form 8-K filing with the Securities and Exchange Commission. The company entered the June 1 amendment with each lender under the term loan agreement. The agreement covers loans convertible in whole or in part into shares of the company's common stock. The original senior secured term loan agreement, dated Sept. 18, 2023, set an initial conversion price of $6, subject to adjustment. Nauticus Robotics previously entered an Oct. 25, 2025, amendment that reduced the conversion price to $1.76 through Nov. 7, 2025. A May 11 amendment reduced the conversion price to $2.20 through May 21. About Nauticus Robotics Nauticus Robotics Inc. develops advanced fully electric autonomous robotic solutions for subsea applications. Its portfolio includes autonomous untethered underwater vehicles, tethered remotely operated vehicles, electric robotic manipulators, a platform-agnostic robotic operating system and related consulting and prototype services. The company's technology is aligned with offshore energy and national security applications, serving commercial and defense sectors. Its addressable markets include oil and gas, defense, offshore renewables, seafloor telecommunications, aquaculture, port security, oceanographic research and subsea mining, with a current primary focus on oil and gas operations and defense applications. In an audit report dated April 15, 2026, WithumSmith+Brown PC issued a going concern qualification citing recurring net losses, negative operating cash flows, a working capital deficit and insufficient cash and cash equivalents to fund operations for 12 months from the report date, which raised substantial doubt about the company's ability to continue as a going concern. Nauticus Robotics reported total assets of $40.21 million, total liabilities of $35.96 million and total stockholders' equity of $4.25 million as of March 31, 2026. NETCAPITAL INC: Completes Asset Purchase of NetNudge AI Platform ---------------------------------------------------------------- Netcapital Inc. disclosed in a regulatory filing that it entered into an Asset Purchase Agreement with Codesharp Corporation, a Canadian corporation, pursuant to which the Company acquired substantially all the Seller's assets related to the NetNudge AI Agent Platform, other than excluded assets. The NetNudge AI Agent Platform is described in the Purchase Agreement as a specialized artificial intelligence infrastructure provider and AI agent platform that allows users to create specialized AI agents to assist in running and automating business operations, customer engagement, workflow management, operational analytics, and enterprise decision-making. The purchased assets include, among other assets related to the NetNudge AI Agent Platform, intellectual property, technology and software assets, systems, owned software, software source code and object code, repositories, documentation, development tools, configurations, prompt libraries, automation logic, datasets, training materials, APIs, operational intelligence systems, marketing materials, and data relating to potential customers, potential suppliers and other business development opportunities. NetNudge is an early-stage platform, and the Company did not acquire existing customer or supplier contracts or established customer or supplier relationships. The Purchase Agreement provides that the Company is assuming only specified post-closing obligations under assumed contracts and is not assuming indebtedness or pre-closing liabilities of the Seller. As consideration for the purchased assets, the Company agreed to issue to the Seller 600,000 shares of the Company's Series A Convertible Preferred Stock at closing. The Purchase Agreement also provides for the issuance of up to an additional 600,000 shares of Series A Convertible Preferred Stock upon achievement of a revenue milestone, for a maximum of 1,200,000 shares of Series A Convertible Preferred Stock that may be issued as consideration in the transaction. The revenue milestone is achieved only if the cumulative GAAP revenue of the acquired assets, excluding intercompany revenue and revenue derived from the Company's pre-existing operations or other business units, equals or exceeds $3,000,000 during the period from June 1, 2026 through May 31, 2029, as reported in the Company's audited consolidated financial statements included in the applicable annual report and confirmed in writing by the Company's independent auditor. Mr. John Fanning, Sr., the husband of the Company's Chief Financial Officer, has served as an advisor to the Company and, prior to the closing of the transaction, provided advice to NetNudge with respect to the development of the NetNudge AI Agent Platform and the customization of the platform to be responsive to the Company's anticipated business and operational needs. The Company does not have a formal advisory agreement with Mr. Fanning. Mr. Fanning is not a party to the Purchase Agreement and did not receive any separate consideration from the Company in connection with the Purchase Agreement. A full text copy of the Purchase Agreement is available at https://tinyurl.com/9urnpv88 Issuance of Series A Convertible Preferred In connection with the Purchase Agreement, the Company agreed to issue 600,000 shares of Series A Convertible Preferred Stock to the Seller at closing as consideration for the purchased assets. The Company also agreed to issue up to an additional 600,000 shares of Series A Convertible Preferred Stock if the revenue milestone described in Item 1.01 is achieved. Each share of Series A Convertible Preferred Stock has a stated value of $1.50 per share. Accordingly, the initial stated value of the consideration is $900,000, and the maximum stated value of the Series A Convertible Preferred Stock issuable in the transaction is $1,800,000. The securities were issued in a transaction not registered under the Securities Act of 1933, as amended. The Company relied on the exemption from registration provided by Section 4(a)(2) of the Securities Act for transactions by an issuer not involving a public offering. On May 27, 2026, the Board of Directors of Netcapital Inc. approved the issuance of shares of the Company's Series A Convertible Preferred Stock in connection with the Company's acquisition of assets related to the NetNudge AI Agent Platform from Codesharp Corporation. The Series A Convertible Preferred Stock has a par value of $0.001 per share and a stated value of $1.50 per share. The Company agreed to issue 600,000 shares of Series A Convertible Preferred Stock at closing and may issue up to an additional 600,000 shares of Series A Convertible Preferred Stock upon achievement of the revenue milestone described in Item 1.01 of this Current Report on Form 8-K. The initial 600,000 shares of Series A Convertible Preferred Stock carry 2.5 votes per share while outstanding as preferred stock. Any additional shares issued upon achievement of the revenue milestone will be non-voting while outstanding as preferred stock. The Series A Convertible Preferred Stock is convertible into common stock only at the Company's election, on a one-for-one basis, subject to customary adjustment for stock splits, stock dividends, combinations, recapitalizations and similar events. Holders of Series A Convertible Preferred Stock do not have the right to require conversion. The Series A Convertible Preferred Stock is not entitled to cumulative dividends. If the Company declares a cash or stock dividend or other distribution on its common stock, holders of Series A Convertible Preferred Stock are entitled to participate on an as-converted basis, subject to the terms approved by the Board. Upon a liquidation event, holders of Series A Convertible Preferred Stock are entitled to receive, before any distribution to holders of common stock or other junior securities, an amount per share equal to the stated value of $1.50 per share, subject to the terms approved by the Board. The issuance of the Series A Convertible Preferred Stock may affect the rights of holders of the Company's common stock because the Series A Convertible Preferred Stock has voting rights, liquidation preferences, and conversion rights that are senior to, or may affect, the rights of holders of the Company's common stock. A full text copy of the Certificate of Designations, Rights and Preferences of Series A Convertible Preferred Stock of Netcapital is available at https://tinyurl.com/23y7yuu7 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. NOBLE FINANCE II: Moody's Ups CFR to 'Ba2', Outlook Stable ---------------------------------------------------------- Moody's Ratings upgraded Noble Finance II LLC's (Noble) Corporate Family Rating to Ba2 from Ba3, Probability of Default Rating to Ba2-PD from Ba3-PD and senior unsecured notes to Ba3 from B1. The SGL-1 Speculative Grade Liquidity rating was unchanged. The rating outlook remains stable. Moody's concurrently assigned a Ba3 rating to the company's proposed $500 million senior unsecured notes due 2034. Proceeds from this debt offering along with cash on hand, will be used to fully redeem the second-lien notes due 2030, that remain outstanding under Noble Offshore Drilling, Inc., which was acquired as a part of the 2024 acquisition of Diamond Offshore Drilling, Inc. "The upgrade reflects Noble's simplified capital structure following the proposed refinancing transaction, solid contract backlog through 2027, and continued commitment to maintain low leverage," stated Sajjad Alam, Moody's Ratings Vice President. "The refinancing will also improve Noble's maturity profile and enhance financial flexibility by reducing interest costs." RATINGS RATIONALE The Ba2 CFR is supported by Noble's large, high-quality, and globally diversified offshore rig fleet, strong position in key deepwater and ultra-deepwater markets, substantially contracted revenue backlog through 2027, and the expectation that management will continue to adhere to prudent financial policies, including a commitment to low leverage. The debt/EBITDA ratio should continue to improve through 2027 backed by the company's $7.5 billion in revenue backlog as of April 27, 2026. Offshore rig demand and dayrates are expected to remain resilient through 2027 amid constrained oil supply from the Middle East and heightened focus on energy security globally. While the company will have elevated capital expenditures in 2026, Moody's expects the company to maintain its strong liquidity position and fund all capital expenditures and shareholder distributions with cash on hand and operating cash flow, without using the revolving facility or substantially depleting its cash balance. Noble's ratings are constrained by its exposure to re-contracting risks, the capital-intensive nature of its operations, the inherent cyclicality associated with offshore upstream capital expenditures, and its sensitivity to fluctuations in oil and gas prices. Oil and gas prices need to stay above mid-cycle levels for the company to successfully recontract and deliver consistent free cash flow over the medium to long term. The new notes will rank pari passu with Noble's existing senior unsecured notes. The senior unsecured notes are rated Ba3, given their subordinated position within Noble's capital structure relative to the secured revolving credit facility. The revolver has a first-lien secured claim over substantially all of Noble's rig assets. The notes are fully and unconditionally guaranteed on a senior unsecured basis by all of Noble's subsidiaries that are also guarantors under the secured revolving credit facility. Moody's expects Noble to maintain very good liquidity through 2027. The company had $663 million in cash and cash equivalents as of March 31, 2026. The company is projected to generate a small amount of negative free cash flow in 2026 driven by increased capital expenditures related to contract preparation, BOP lease buyouts, and major periodic surveys. The level of spending is anticipated to decline in 2027, thereby supporting the generation of meaningful positive free cash flow next year. Just prior to the notes refinancing transaction, Noble extended the maturity date of its secured revolving facility to May 29, 2031 and increased the facility commitment amount to $650 million. The credit facility's financial covenants offer ample compliance cushion, and Noble is unlikely to use the revolver except for working capital needs. There are no material debt maturities until 2030. The stable outlook assumes that Noble will maintain its healthy contract backlog, very good liquidity, and low leverage profile in a supportive industry environment through 2027. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS Ratings could be upgraded if Noble generates strong free cash flow after sufficiently reinvesting in the business and funding shareholder distributions. For an upgrade consideration, the company will also need to maintain high fleet utilization and a robust backlog in a supportive industry environment. Debt/EBITDA sustained below 1.5x would also be supportive of an upgrade. The CFR could be downgraded if earnings and backlog decline materially, the company generates negative free cash flow on a sustained basis or the debt/EBITDA ratio rises above 2.5x in a challenging industry environment. Any material leveraging acquisition or shareholder distribution could also prompt a downgrade. Noble Finance II LLC is a wholly-owned indirect subsidiary of Noble Corporation plc, which is based in the UK, publicly traded, and is one of the world's largest providers of offshore contract drilling services to the oil and gas industry. The principal methodology used in these ratings was Oilfield Services published in October 2025. The net effect of any adjustments applied to rating factor scores or scorecard outputs under the primary methodology(ies), if any, was not material to the ratings addressed in this announcement. NORTH FLORIDA: Jerrett McConnell Named Subchapter V Trustee ----------------------------------------------------------- The Acting U.S. Trustee for Region 21 appointed Jerrett McConnell, Esq., at McConnell Law Group, P.A. as Subchapter V trustee for North Florida Adult Training Center, LLC . Mr. McConnell will be paid an hourly fee of $400 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. McConnell declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Jerrett M. McConnell, Esq. McConnell Law Group, P.A. 6100 Greenland Rd., Unit 603 Jacksonville, FL 32258 Phone: (904) 570-9180 info@mcconnelllawgroup.com About North Florida Adult Training Center North Florida Adult Training Center, LLC filed a Chapter 11 bankruptcy petition (Bankr. N.D. Fla. Case No. 26-40118) on March 2, 2026, listing up to $50,000 in assets and between $100,001 and $500,000 in liabilities. Judge Karen K. Specie oversees the case. Bruner Wright, P.A. is the Debtor's legal counsel. NORTH RIVER BUILDERS: Starts Chapter 7 Bankruptcy in Massachusetts ------------------------------------------------------------------ On June 4, 2026, North River Builders, Inc. filed for Chapter 7 protection in the U.S. Bankruptcy Court for the District of Massachusetts. According to court filings, the Debtor reports between $100,001 and $1 million in debt owed to between 1 and 49 creditors. About North River Builders, Inc. North River Builders, Inc. is a construction company engaged in residential and commercial building, renovation, and contracting services. North River Builders, Inc. sought relief under Chapter 7 of the U.S. Bankruptcy Code (Bankr. Case No. 26-40668) on June 4, 2026. In its petition, the Debtor reports estimated assets of $0 to $100,000 and estimated liabilities of $100,001 to $1 million. The Honorable Bankruptcy Judge Elizabeth D. Katz handles the case. The Debtor is represented by George J. Nader, Esq., of Riley & Dever, P.C. NOURISH BUYER I: Moody's Ups CFR to B2 & Alters Outlook to Stable ----------------------------------------------------------------- Moody's Ratings upgraded Nourish Buyer I, Inc.'s ("Actus Nutrition" or "Actus") Corporate Family Rating to B2 from B3 and Probability of Default Rating to B2-PD from B3-PD. In addition, Moody's upgraded the ratings on Actus' senior secured first lien revolving credit facility and senior secured first lien term loan to B2 from B3. The outlook has been changed to stable from positive. The upgrade reflects Actus' improving credit metrics, growing product diversification, and good liquidity. Moody's adjusted debt to EBITDA has improved from 5.3x for the 12 months ending June 2025 to 4.7x for the 12 months ending March 2026, largely due to an approximately 30% increase in EBITDA during this period. This growth has been driven by favorable consumer trends focusing on health and wellness, which boost demand for dairy-based protein ingredients and products. Moody's expects EBITDA to continue growing over the next year, enabling the company's leverage to fall below 5x within the next 12 months. Actus' strategy of diversifying across multiple protein product lines has allowed the company to capitalize on the varied nutritional profiles and functional properties of different milk-derived proteins. Moreover, this diversification has helped partially mitigate risks associated with fluctuations in whey costs. RATINGS RATIONALE Actus Nutrition's B2 CFR reflects the company's high leverage in addition to earnings and cash flow sensitivity to fluctuations in end-market dairy protein pricing and input commodity costs. Actus can partially mitigate commodity exposure through supplier and customer contracts that allow for ongoing spread renegotiation or that have embedded toll escalators as well as through the use of derivative hedges and forward contracts. However, the company has faced meaningful earnings pressure as recently as 2023 when whey volumes and prices contracted. The company has generated limited free cash flow over the last four years due in part to shareholder distributions, capital spending and investments to grow capacity and expand capabilities in more advanced products such as casein, caseinate and lactoferrin, a high interest burden, and working capital. There is good potential for free cash flow to improve over the next few years through a moderation of capital spending and limited shareholder distributions. The ratings are supported by Actus Nutrition's strong market position as a leading producer of dairy-derived protein ingredients and products, and secured access to liquid whey and other raw materials via strategically located plants and contracts with milk processers. The company benefits from high barriers to entry and maintains strong relationships with both suppliers and customers. Demand for dairy-derived proteins is strong and is benefitting from consumer trends centered on health and wellness and higher consumption of protein. Actus' capital investments into more plant capacity and expansion into casein and caseinate is supporting strong volume growth and increasing product and end-market diversification. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS The stable outlook reflects Moody's expectations that the company will generate positive free cash flow of at least $50 million and reduce debt to EBTIDA below 5x in the next 12 to 18 months. The ratings could be upgraded if the company generates revenue growth with stable to higher margins, and generates strong and consistent free cash flow. The company would also need to demonstrate financial policies consistent with maintaining lower leverage and sustain debt to EBITDA below 4x. An upgrade would also require the company to maintain good financial flexibility through commodity cycles and good liquidity. The ratings could be downgraded if EBITDA deteriorates due to factors such as input cost increases, growth in alternative proteins, lost market share or deterioration in protein pricing. The ratings could also be downgraded if the company does not consistently generate positive free cash flow or if Moody's adjusted debt to EBITDA is sustained above 5.5x. The principal methodology used in these ratings was Protein and Agriculture published in October 2025. The net effect of any adjustments applied to rating factor scores or scorecard outputs under the primary methodology(ies), if any, was not material to the ratings addressed in this announcement. Headquartered in Eden Prairie, Minnesota, Actus Nutrition is a leading independent manufacturer of dairy protein ingredients and products for the human nutrition, including sports nutrition, health and wellness, infant formula, and food manufacturing, and animal nutrition end markets. Actus products include whey protein isolate and concentrate, milk protein concentrate, casein, caseinate, and co-products such as milk carbohydrates, calf milk replacers, and Energy Booster. Actus Nutrition (then Milk Specialties Global) was acquired by Butterfly Equity from the previous owner American Securities in February 2023. Revenues for the 12 months ended March 31, 2026, were roughly $2.3 billion. NOVA TERRA: Seeks to Hire Landrau Rivera & Assoc. as Counsel ------------------------------------------------------------ Nova Terra Inc. seeks approval from the U.S. Bankruptcy Court for the District of Puerto Rico to hire Landrau Rivera & Assoc. as counsel. The firm's services include: (a) advise the Debtor with respect to its duties, powers and responsibilities in this case under the laws of the United States and Puerto Rico in which it conducts its business, or is involved in litigation; (b) advise the Debtor in connection with a determination whether a reorganization is feasible and, if not, aid it in the orderly liquidation of its assets; (c) advise the Debtor with respect to its negotiations with creditors for the purpose of proposing a viable plan of reorganization; (d) prepare on behalf of the Debtor the necessary legal papers or documents; (e) appear before the Bankruptcy Court, or any court in which the Debtor asserts a claim interest or defense directly or indirectly related to this bankruptcy case; (f) perform such other legal services for the Debtor as may be required in these proceedings or in connection with the operation of/and involvement with its business; (g) employ other professional services as necessary to complete the Debtor's financial reorganization with Chapter 11 of the Bankruptcy Code. The firm will be paid at these hourly rates: Noemi Landrau Rivera, Attorney $250 Legal and Finncial Assistants $75 In addition, the firm will seek reimbursement for expenses incurred. The firm received a retainer of $15,000 from the Debtor. Ms. Rivera 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: Noemi Landrau Rivera, Esq. Landrau Rivera & Assoc. P.O. Box 270219 San Juan, PR 00928 Telephone: (787) 774-0224 Facsimile: (787) 919-7713 Email: nlandrau@landraulaw.com About Nova Terra Inc. Nova Terra Inc. is an e-waste and industrial waste recycling company in Puerto Rico founded in 1996. The company provides IT recycling and reuse, asset management, data destruction, logistics and warehousing, appliance recycling, and material processing and recovery services. It also performs processing, disassembly, analysis, refurbishment, and parts recovery for electronic equipment, serving businesses and organizations in industries including pharmaceuticals and manufacturing. Its work covers computers, telecommunications equipment, manufacturing machinery, and electrical and electronic devices. Nova Terra Inc. filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. D.P.R. Case No. 26-02364) on May 26, 2026, listing $385,208 in assets and $1,259,466 in liabilities. The petition was signed by Vanessa Piereschi Fernandez as president. Noemi Landrau Rivera, Esq. at LANDRAU RIVERA & ASSOC. serves as the Debtor's counsel. OHIO LUXURY: Frederic Schwieg Named Subchapter V Trustee -------------------------------------------------------- The U.S. Trustee for Regions 3 and 9 appointed Frederic Schwieg, Esq., at Schwieg Law, as Subchapter V trustee for Ohio Luxury Builders LLC. Mr. Schwieg will be paid an hourly fee of $370 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Schwieg declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Frederic P. Schwieg, Esq. Schwieg Law 2705 Gibson Drive Rocky River, OH 44116-1815 Phone: (440) 499-4506 Email: fschwieg@schwieglaw.com About Ohio Luxury Builders LLC Ohio Luxury Builders LLC is a Youngstown, Ohio-based nonresidential building construction company that owns real estate properties in northeastern Ohio. The company's listed assets include residential properties, vacant lots and a commercial office property. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ohio Case No. 26-40663) on May 20, 2026, with $2,620,820 in assets and $3,226,247 in liabilities. Corey Kemp, single member and president, signed the petition. Judge Tiiara NA Patton presides over the case. Charles Tyler, Esq. at CHARLES TYLER, SR., ATTORNEY AND COUNSELOR AT LAW represents the Debtor as legal counsel. OLD GOAT ILRE: Commences Chapter 11 Bankruptcy in Kentucky ---------------------------------------------------------- On June 3, 2026, Old Goat ILRE Holding, LLC filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Western District of Kentucky. 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) filed by the US Trustee will be conducted telephonically to be held on July 13, 2026 at 03:00 PM at UST - Ruppel: Phone 888-330-1716, Meeting Code 5185961. About Old Goat ILRE Holding, LLC Old Goat ILRE Holding, LLC is a holding company engaged in investment, asset ownership, and business management activities. Old Goat ILRE Holding, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-31524) on June 3, 2026. In its petition, the Debtor reports estimated assets of $100,001 to $1 million and estimated liabilities of $100,001 to $1 million. The Honorable Bankruptcy Judge Joan A. Lloyd handles the case. The Debtor is represented by Charity S. Bird, Esq., of Kaplan Johnson Abate & Bird LLP. OLENOX INDUSTRIES: Acquires CS Digital in $30 Million Transaction ----------------------------------------------------------------- Olenox Industries Inc. announced in a regulatory filing that the Company entered into a Membership Interest Purchase Agreement with CS Digital Ventures, LLC, a Delaware limited liability company, the members of CS Digital -- CS Management Group LLC -- and Bernardo Schucman, in his capacity as the seller representative, and completed the acquisition of 100% of the issued and outstanding membership interests of CS Digital on the same date. As a result of the closing of the Acquisition, CS Digital became a wholly owned subsidiary of the Company. CS Digital is a digital infrastructure company focused on the development and operation of energy-intensive data centers, including bitcoin mining and high-density compute deployments. As of the closing date, CS Digital had approximately 35 megawatts of installed power capacity currently in operation. Membership Interest Purchase Agreement Aggregate Consideration. The aggregate consideration payable by the Company under the Purchase Agreement consists of: (i) US$30,000,000 in upfront consideration, payable at closing, comprised of: (a) US$14,000,000 in newly issued shares of the Company's Series D Preferred Stock, par value $1.00 per share, issued at a stated value of $1.00 per share, and (b) US$16,000,000 in the form of an unsecured promissory note issued by the Company to the Sellers; (ii) warrants to purchase an aggregate of 1,500,000 shares of the Company's common stock, par value $0.01 per share, comprised of three equal tranches of 500,000 shares each, with exercise prices of $5.00, $7.00 and $9.00 per share, respectively; and (iii) up to an additional US$20,000,000 in shares of Series D Preferred Stock, issuable upon the achievement of two post-closing milestones tied to: (A) cumulative revenue and (B) cumulative Adjusted EBITDA of CS Digital, in each case as further described in the Purchase Agreement. Conversion Gate; Stockholder Approval. The Series D Preferred Stock and the Warrants are not convertible or exercisable into Common Stock prior to receipt of the requisite approval of the Company's stockholders, as required under applicable rules of The Nasdaq Stock Market LLC, including Listing Rule 5635. The Purchase Agreement provides that the Company shall use its best efforts to convene a meeting of its stockholders to seek the Stockholder Approval within 90 days after the closing and, if the Stockholder Approval is not obtained at such meeting, to convene a meeting of stockholders every three months thereafter until the Stockholder Approval is obtained. The failure to obtain the Stockholder Approval will not give rise to any increase in the stated value of, accrual of dividends or interest on, redemption right with respect to, decrease in the conversion price of, or any other economic consequence favorable to the holders of, the Series D Preferred Stock or the Warrants. Beneficial Ownership Limitation. Conversion of the Series D Preferred Stock and exercise of the Warrants are further subject to a beneficial ownership limitation pursuant to which no holder, together with such holder's attribution parties, may convert or exercise such securities to the extent it would result in such holder, together with such holder's attribution parties, beneficially owning in excess of 19.9% of the outstanding Common Stock or voting power of the Company. Registration Rights. Within 60 days following the date the Company obtains the Stockholder Approval, the Company has agreed to file a shelf registration statement with the U.S. Securities and Exchange Commission covering the resale of the shares of Common Stock issuable upon conversion of the Series D Preferred Stock, and to use best efforts to cause such registration statement to be declared effective as soon as reasonably practicable thereafter, subject to customary suspension and deferral rights of the Company. Non-Competition and Non-Solicitation. The Purchase Agreement contains customary non-competition and non-solicitation covenants applicable to each of Bernardo Schucman and Shanti Cillo for a period of two years following the closing date, subject to certain limited exceptions set forth in the Purchase Agreement, including continued ownership of, and service as a board member, manager or consultant to, certain entities specifically identified therein. Representations, Warranties and Indemnification. The Purchase Agreement contains customary representations, warranties, covenants and indemnification provisions. Indemnification claims based on breaches of representations and warranties are generally subject to an 18-month survival period, a $100,000 basket and a $10 million cap, subject to customary exceptions for fundamental representations, certain tax-related matters and fraud. Seller Note In connection with the closing of the Acquisition, the Company issued the Seller Note to the Sellers in the aggregate principal amount of US$16,000,000. The Seller Note is unsecured. The Seller Note contains customary terms, including with respect to interest, maturity, prepayment, events of default and remedies, all as set forth in the form of Seller Note available at https://tinyurl.com/mr2eb9d4 Warrants In connection with the closing of the Acquisition, the Company issued the Warrants to the Sellers. The Warrants entitle the holders thereof to purchase an aggregate of 1,500,000 shares of Common Stock, comprised of three equal tranches of 500,000 shares each with exercise prices of $5.00, $7.00 and $9.00 per share, respectively. The Warrants are not exercisable into Common Stock prior to receipt of the Stockholder Approval. Additional terms of the Warrants, including expiration, cashless exercise provisions, and customary adjustment provisions for stock splits and similar events, are set forth in the form of Warrant available at https://tinyurl.com/mr2emf5d Certificate of Designation On May 26, 2026, in connection with the closing of the Acquisition, the Company filed a Certificate of Designation of Series D Preferred Stock with the Secretary of State of the State of Delaware, establishing the rights, preferences, privileges and restrictions of the Series D Preferred Stock. The Certificate of Designation provides, among other things, that: (i) the Series D Preferred Stock is non-voting, except as required by the Delaware General Corporation Law; (ii) no shares of Series D Preferred Stock shall be convertible into Common Stock prior to receipt of the Stockholder Approval; (iii) the conversion price applicable to the Series D Preferred Stock is fixed at $1.00 per share, which the Company has determined equals or exceeds the "Minimum Price" determined in accordance with Nasdaq Listing Rule 5635(d)(1) as of the closing date; (iv) the Series D Preferred Stock is not subject to any redemption right, sinking fund, mandatory conversion right or price-based anti-dilution protection; and (v) the failure to obtain the Stockholder Approval shall not result in any increase in stated value, decrease in conversion price, accrual of dividends or interest, accrual of any redemption right, payment of any penalty, fee or liquidated damages, or any other consequence favorable to the holders of the Series D Preferred Stock. Unregistered Sales of Equity Securities At the closing of the Acquisition, the Company issued to the Sellers, as partial consideration for the membership interests of CS Digital: (i) shares of Series D Preferred Stock having an aggregate stated value of US$14,000,000 and (ii) the Warrants. The Earnout Shares, when and if issued, will be issued to the Sellers as additional consideration upon the achievement of the post-closing milestones described above. The issuance of the Series D Preferred Stock and the Warrants at closing, and any future issuance of Earnout Shares, were and will be made in reliance on the exemption from registration provided by Section 4(a)(2) of the Securities Act of 1933, as amended, and Rule 506(b) of Regulation D promulgated thereunder, as transactions by an issuer not involving any public offering. Each Seller represented to the Company that it is an "accredited investor" as defined in Rule 501(a) of Regulation D, and the Series D Preferred Stock, the Warrants and any Earnout Shares were and will be acquired for investment purposes and not with a view to, or for sale in connection with, any distribution thereof. The certificates or book-entry positions evidencing such securities, and any shares of Common Stock issued upon conversion or exercise thereof, will bear customary restrictive legends. Management Commentary "Closing this combination is a strategic step in Olenox's evolution into an energy-led digital infrastructure company," said Mike McLaren, Chairman and Chief Executive Officer of Olenox. "Our platform was built around proprietary processing technology and direct access to natural gas resources. Combining that foundation with CS Digital's operating capability, its attractive financial profile, and Bernardo's proven leadership in energy-intensive data center infrastructure positions us to compete in the next phase of digital infrastructure growth -- one in which energy, not real estate, will be the binding constraint. We believe we are creating a platform with the technical and commercial depth to serve a broad range of energy-intensive compute customers, including AI customers, from the same energy base. Mr. McLaren brings more than three decades of operational experience across upstream oil and gas, energy services and energy technologies. He is the founder of Olenox Corp. and the inventor of the proprietary Olenox process technology, and currently serves as Chairman and Chief Executive Officer of Olenox Industries Inc. Over the course of his career he has co-authored technical publications on selective oil agglomeration, coal water oil fuel and the preparation of clean coal energy, and has held chief executive roles across multiple energy and infrastructure platforms. Bernardo Schucman, who will continue to serve as Chief Executive Officer of CS Digital and lead the data center vision of the combined platform, added: "We believe we are entering what may prove to be the third era of large-scale, energy-intensive digital infrastructure. The first era began when I started this work in my garage in California, paying residential power rates. The second era emerged as pioneers like us moved into underutilized colocation space in third-party data centers, operating at approximately $0.07 to $0.09 per kWh, and ultimately built dedicated, purpose-built data centers operating at approximately $0.05 per kWh. We believe 2026 may mark the beginning of a new phase: the large-scale development of off-grid data centers built closer to the point of energy generation, where, under certain conditions, it may be possible to generate and utilize power at costs approaching $0.02 per kWh. Our combination with Olenox is designed to pursue precisely that opportunity, and to build what we believe can become a leading platform in scaling off-grid, gas-powered, energy-intensive data centers. Our ambition is significant, and so is the opportunity in front of us." Additional Information The full text of the Purchase Agreement is available at https://tinyurl.com/ycyj6umz. A full text of the Certificate of Designation is available at https://tinyurl.com/4p7cw588 About Olenox Industries Olenox Industries Inc. formerly Safe & Green Holdings Corp. is an industrial holding company focused on acquiring, operating, and scaling businesses that provide engineered solutions across industrial, energy, and infrastructure markets. Through its subsidiaries, including Giant Containers, the Company delivers high-quality modular and containerized systems designed for rapid deployment and long-term performance. The Woodlands, Texas-based M&K CPAS, PLLC, the Company's former auditor, issued a "going concern" qualification in its report dated March 31, 2025, attached to the Company's Annual Report on Form 10-K for the year ended Dec. 31, 2024, citing that the Company has incurred net losses since its inception, negative working capital, and negative cash flows from operations, which raises substantial doubt about its ability to continue as a going concern. As of September 30, 2025, the Company had $54.11 million in total assets, $29.17 million in total liabilities, and a total stockholders' equity of $24.94 million. ORIGINCLEAR INC: Net Loss Widens to $2.1 Million in Q1 2026 ----------------------------------------------------------- OriginClear Inc. has filed its Quarterly Report on Form 10-Q with the U.S. Securities and Exchange Commission, reporting a net loss for the three months ended March 31, 2026, of $(2,073,530) compared with net loss of $(767,034) for the same period in 2025, a change of $1,306,496. Revenue for the three months ended March 31, 2026, was $2,002,880, compared to $1,404,671 for the same period in 2025, increased $598,209 (43%). The increase was primarily driven by higher equipment contracts and pump station sales revenue. Liquidity and Capital Resources Liquidity reflects the Company's ability to fund operations and meet obligations. The Company has historically relied on capital raises and continues to pursue financing through convertible notes, equity offerings, and strategic partnerships. The financial statements were prepared assuming the Company will continue as a going concern. The Company has incurred recurring losses and held cash of $3,310,171 as of March 31, 2026. Management believes continued investor support and access to capital markets will be necessary to sustain operations. Going Concern Recurring losses, negative operating cash flows and significant liquidity constraints have led the Company's auditors to express substantial doubt about its ability to continue as a going concern. Management is actively pursuing additional financing through convertible notes and preferred stock offerings while leveraging existing backlog and receivables. There can be no assurance that required financing will be available or on terms acceptable to the Company, and any future financing may involve restrictive covenants or shareholder dilution. A full text copy of the Company's Form 10-Q is available at https://tinyurl.com/bdfzbjyp About OriginClear OriginClear Inc. operates through businesses focused on water-treatment technology, engineered water systems and water self-sustainability services. Its Progressive Water Treatment unit designs, builds and services industrial water-treatment systems for municipal, industrial and pure-water applications, including reverse osmosis, ultrafiltration, media filtration, disinfection, water softening, ion exchange and control systems. Its Water On Demand subsidiary is a development-stage business focused on pay-by-gallon and flat-fee water-treatment service models in which systems may be designed, built, owned and operated for customers. OriginClear is based in Clearwater, Florida. As of March 31, 2026, the Company had $5,065,164 in total assets, $27,533,912 in total liabilities, $7,097,720 in mezzanine equity, and $29,566,468 in total stockholders' deficit. In an audit report dated April 10, 2026, M&K CPAS PLLC included a going concern qualification, citing OriginClear's net loss from operations and cash used in operations. Those conditions raised substantial doubt about the company's ability to continue as a going concern. OSTENDO TECHNOLOGIES: Amends Unsecured Claims Pay Details --------------------------------------------------------- Ostendo Technologies, Inc., submitted a Disclosure Statement describing Chapter 11 Plan dated May 27, 2026. This bankruptcy case was filed to preserve and to maximize the value of the Debtor's assets for the benefit of creditors, address various pre-petition litigation commenced against the Debtor across multiple venues in a single forum, and monetize the Debtor's assets for the greatest recoveries possible, and reorganize or otherwise wind down the affairs of the Debtor in an orderly and efficient manner. On November 7, 2025, the Court entered an order approving the Debtor's sale of certain of its assets to Rowen, for a purchase price of $2.5 million, $2.4 million of which is allocated to intangible intellectual property assets (the "Intangible Intellectual Property Sale Proceeds") and $100,000 of which is allocated to tangible intellectual property assets (the "Tangible Intellectual Property Sale Proceeds"). Accordingly, there is available as of the date of the filing of this Disclosure Statement a total of approximately $1,321,009.53 of remaining intangible intellectual property sale proceeds (the "Available Intangible IP Cash"). The Plan is a liquidating Plan. On the Effective Date, the Debtor shall create and enter into a liquidating trust (the "Liquidating Trust") for the benefit of creditors, as set forth in the Plan. The Liquidating Trust shall be a creditors' liquidating trust for all purposes, including Treasury Regulations Section 301.7701-4(d), and is intended to be treated as a grantor trust for federal income tax purposes. The Liquidating Trust will be organized for the purpose of collecting, distributing, liquidating and otherwise disposing of all of the funds, property, claims, rights and causes of action of the Debtor and its estate which is assigned to the Liquidating Trust pursuant to, and in accordance with, the Plan. The primary purpose of the Liquidating Trust under the Plan will be to investigate, prosecute and/or resolve, if appropriate, any claims and causes of action of the estate against third parties that are not resolved as of the Effective Date. After the Liquidating Trust has been created and has taken ownership/assignment of all funds, property, claims, rights and causes of action of the Debtor and its estate, the Debtor shall dissolve or otherwise wind down pursuant to applicable law, and shall not conduct any further business and/or other activities. Class 8 consists of all non-priority general unsecured claims. The Debtor scheduled a total of $17,722,362.43 of general unsecured debt as set forth on Schedule F of the Debtor's Schedules of Assets and Liabilities, but based on claims filed against the estate, it is possible that the total amount of allowed general unsecured claims against the estate exceeds $30,000,000. However, the actual total amount of class 8 claims will depend upon a number of factors, including whether any creditors holding claims in classes 1 to 6 have claims that are not satisfied in full pursuant to a liquidation of such creditors' collateral, and whether any creditors asserting class 7 priority claims are reclassified as class 8 claimants. If the total allowed amount of general unsecured claims is ultimately more than what the Debtor scheduled, they may significantly increase the total amount of allowed class 8 claims, and therefore significantly affect the percentage recovery received by holders of allowed class 8 claims. In full settlement and satisfaction of allowed class 8 claims, each holder of an allowed class 8 claim will receive a pro rata share of the unencumbered cash remaining in the Liquidating Trust after the payment of all allowed administrative claims (including post-Effective Date administrative claims and fees and expenses, including the fees and costs of the Liquidating Trust), and all allowed priority claims. To the extent funds are available, the Liquidating Trustee will make distributions to holders of allowed class 8 claims on account of such claims at least annually, up to the allowed amount of such class 8 claims. The Debtor estimates that the cash available for the Liquidating Trust/class 8 after taking into account allowed pre-Effective Date administrative claims, and allowed priority claims will be in the range of $98,236.22 - $428,000, depending upon whether asserted priority claims are allowed as asserted, subject to applicable statutory caps. The ultimate amount distributed to holders of allowed class 8 claims will depend upon a number of factors, including whether and to what extent the Liquidating Trust determines to use available funds to pursue claims and causes of action against the estate, and whether and to what extent the Liquidating Trust recovers money in connection with claims and causes of action against the estate. On the Effective Date, a Liquidating Trust Agreement in a form approved by the Bankruptcy Court at the Plan Confirmation Hearing shall be executed, and all other necessary steps shall be taken to establish the Liquidating Trust and the beneficial interests therein, which shall be for the benefit of all creditors entitled to receive distributions under the Plan from the Liquidating Trust. The treatment of all claim holders will occur in the manner described. All cash distributions to be made on or near the Effective Date will be funded from the Cash Collateral, the Remaining Intangible IP Cash, the Carve-Out (if any), the Moov Carve-Out, and the Potential Tangible Personal Property Sale Proceeds, all as provided in the Plan, either by the Debtor, or, if the Liquidating Trust has been established, by the Liquidating Trust. The hearing where the Bankruptcy Court will determine whether or not to confirm the Plan (the "Plan Confirmation Hearing") will take place on July 29, 2026, at 1:00 p.m., before the Honorable Victoria S. Kaufman, United States Bankruptcy Judge for the Central District of California, in Courtroom 301, located at 21041 Burbank Blvd., Woodland Hills, California 91367. Objections to the confirmation of the Plan must, by July 1, 2026, be filed with the Bankruptcy Court and served by same day service upon Krikor J. Meshefejian, Esq., Levene, Neale, Bender, Yoo & Golubchik L.L.P., 2818 La Cienega Avenue, Los Angeles, California 90034. A full-text copy of the Disclosure Statement dated May 27, 2026 is available at https://urlcurt.com/u?l=gvvKci from PacerMonitor.com at no charge. Ostendo Technologies Inc. is represented by: Ron Bender, Esq. Levene, Neale, Bender, Yoo & Golubchik LLP 2818 La Cienega Avenue Los Angeles, California 90034 Telephone: (310) 229-1234 Facsimile: (310) 229-1244 E-mail: rb@lnbyg.com About Ostendo Technologies Inc. Ostendo Technologies, Inc. develops advanced display and imaging technologies, including micro-LED and quantum photonic imagers. It operates in the semiconductor sector and maintains facilities in California. Ostendo Technologies sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Cal. Case No. 25-11111) on June 24, 2025. In its petition, the Debtor estimated assets between $1 million and $10 million and estimated liabilities between $10 million and $50 million. Bankruptcy Judge Victoria S. Kaufman handles the case. The Debtor tapped Ron Bender, Esq., at Levene, Neale, Bender, Yoo & Golubchik, LLP as legal counsel and Sherwood Partners, Inc. as restructuring advisor. OUISI INC: Seeks to Hire Bond Schoeneck & King as Counsel --------------------------------------------------------- OuiSi Incorporated seeks approval from the U.S. Bankruptcy Court for the Southern District of New York to hire Bond, Schoeneck & King, PLLC as counsel. The firm's services include: a. advising the Debtor regarding its function and duties as a debtor in possession; b. assisting in the preparation or amendment of the Debtor's schedules of assets and liabilities and statement of financial affairs, if necessary; c. negotiations with all creditors, including secured lenders and unsecured claimants; d. examinations of liens against property of the estate; e. negotiations with taxing authorities, if necessary; f. representing the Debtor in proceedings and hearings in the United States Bankruptcy Court for the Southern District of New York; g. preparing and filing on behalf of the Debtor, all necessary applications, motions, orders, reports, complaints, answers and other pleadings and documents in the administration of the estates; h. taking all necessary action to protect and preserve the Debtor's estate, including the prosecution of actions on the Debtor's behalf, the defense of any actions commenced against the Debtor, negotiations in connection with any litigation in which the Debtor is involved, and objections to claims filed against the Debtor's estate; i. advising the Debtor concerning and assisting in the negotiation and documentation of, cash collateral orders and related transactions; j. providing assistance, advice and representation concerning any potential sale of the Debtor as a going concern or the sale of all or a significant portion of the Debtor's assets, if appropriate; k. providing assistance, advice and representation concerning the confirmation of any proposed plan(s) and solicitation of any acceptances or responding to rejections of such plan(s); l. providing assistance, advice and representation concerning any investigation of the assets, liabilities and financial condition of the Debtor that may be required under local, state or federal law; m. providing counsel and representation with respect to assumption or rejection of executory contracts and leases, sales of assets and other bankruptcy-related matters arising from the Subchapter V Case; n. advising the Debtor regarding all legal matters arising during the Subchapter V Case, including, but not limited to, corporate, finance, intellectual property, labor, tax and commercial matters; and o. all other pertinent and required representation in connection with the provisions of the Bankruptcy Code. Bond will be paid at its customary hourly rates. Bond received a payment from the Debtor in the amount of $18,738, which amount was inclusive of the $1,738 filing fee. Bond is a "disinterested person" as defined in Bankruptcy Code Sec. 101(14), according to court filings. The firm can be reached through: Justin S. Krell, Esq. Bond, Schoeneck & King, PLLC 68 South Service Road, Suite 400 Melville, NY 11747-9750 Phone: (631) 761-0825 Fax: (631) 761-0013 Email: jkrell@bsk.com About OuiSi Incorporated OuiSi Incorporated operates a business focused on designing, developing, marketing, and distributing visually interactive photo-based games in both digital and physical formats, with production facilities located across Canada, the United States, and the United Kingdom. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. N.Y. Case No. 26-35436) on April 24, 2026. In the petition signed by Paul Brillinger, chief executive officer, the Debtor disclosed up to $100,000 in assets and up to $10 million in liabilities. Judge Kyu Young Paek oversees the case. Justin S. Krell, Esq., at Bond, Schoeneck & King, PLLC, represents the Debtor as legal counsel. OXBOW CARBON: S&P Alters Outlook to Stable, Affirms 'BB-' ICR ------------------------------------------------------------- S&P Global Ratings revised its outlook on Oxbow Carbon LLC to stable from negative. S&P also affirmed its 'BB-' issuer credit rating on Oxbow and its 'BB-' rating on its senior secured debt. The stable outlook reflects S&P's expectation for sustained improvement in Oxbow's credit metrics, spurred by better earnings and free cash flow generation as well as robust liquidity. S&P expects Oxbow's leverage to remain at 2x-3x over the next 12 months. The company's EBITDA could remain flat or increase slightly (in the low- to mid-single-digit percentages) in fiscal 2026 on higher price realizations. Demand for aluminum remains robust in fiscal 2026, and the supply/demand gap continues to widen. This is because of damage to smelters in the Middle East from the Iran War and curtailed movement in the Strait of Hormuz, limiting access to Middle East markets, which accounts for about 9% of global aluminum supply. All-in aluminum costs globally are now at least 30% higher than about three months ago. S&P Global Ratings also revised its price assumptions for aluminum to $3,300/metric ton for the rest of 2026 from $2,700/metric ton. These favorable market conditions and lower debt levels will support stronger earnings and leverage of 2x-3x over the next 12 months, which is supportive of the rating. The company's S&P Global Ratings-adjusted EBITDA increased by 55% in fiscal 2025, better than S&P's previous expectation of 20%. This stemmed from stronger price realizations and modest improvement in volumes, partly due to strong aluminum demand, a driver of calcined coke consumption. Ongoing tensions in the Middle East will continue to support stronger price realizations for its products and services in fiscal 2026. Oxbow's financial policy remains supportive in weaker markets. Over the past five years, the company's capital allocation has favored shareholder distributions, with the company consistently making distributions each year. However, distributions have been funded mainly from free operating cash flow (FOCF) rather than debt. In addition, the company tapers distributions in weaker markets as it prioritizes liquidity preservation. For example, distributions declined by about 70% in fiscal 2024, when its adjusted EBITDA declined about 36% year on year. Shareholder distributions as a percentage of FOCF was about 41% in fiscal 2024 and 64% in fiscal 2025. The company also continues to invest in efficiency initiatives, such as a clean energy project. The project involves the installation of a flue gas desulfurization system that will remove sulfur dioxide and recapture waste heat to generate electricity which will used by the plant to offset electricity purchased. Project costs are estimated at about $100 million net of tax credits and should be ready for commercial production by late 2027. Oxbow's global footprint provides some insulation from geopolitical tensions in the Middle East. The company mainly sources fuel grade pet coke from refineries and integrated energy hubs around the world with moderate exposure to the Middle East Region. Its plant in Kuwait continues to operate and ship to customers although with a reduced workforce and suspends operations from time to time for the safety of its workers. On the other hand, the situation in the Middle East will likely support higher prices for its products, which could offset slightly lower sales volumes. While some aluminum capacity in the Middle East has been suspended, S&P sees some moderate growth in production from Chinese smelters and new smelters expected to come online in other parts of Asia. Oxbow's global footprint favorably positions it to potentially benefit from additional aluminum smelter capacity in Asian-Pacific Region. SS&P said, "The stable outlook reflects our expectation that leverage will remain at 2x-3x over the next 12 months, supported by higher realized prices, which could offset lower volumes. Oxbow will generate free cash flows to fund its shareholder distributions and maintain robust liquidity to fund operations in an unexpected weaker market. "We could lower our rating on Oxbow if leverage rises above 4x. This could occur from weaker-than-expected earnings and cash flows from some operational disruption at a major production site or a sharp drop in pet coke and calcined coke prices from their current levels. "We could raise the rating if Oxbow's leverage strengthened below 2x, an indication of a strong buffer in the credit metrics given its exposure to cyclical markets and volatile earnings. This could arise from the company prioritizing debt reduction over shareholder distributions with a firm commitment to sustain this low leverage." P3 HEALTH: Confirms Compliance With Nasdaq Listing Requirements --------------------------------------------------------------- P3 Health Partners Inc. announced in a regulatory filing that it received a letter from the staff of the Listing Qualifications Department of The Nasdaq Stock Market LLC notifying the Company that, based on the Company's Form 8-K filed with the SEC on May 15, 2026, the Staff has determined that the Company complies with Nasdaq Listing Rule 5550(b)(2) and has now returned to compliance with Nasdaq continued listing requirements. As previously disclosed, on November 28, 2025, the Company received a letter from the Staff notifying the Company that it did not comply with at least one of the following standards set out in Nasdaq Listing Rule 5550(b): $2.5 million stockholders' equity, $35 million market value of listed securities, or $500,000 of net income from continuing operations. About P3 Health Partners Henderson, Nev.-based P3 Health Partners Inc is a patient-centered and physician-led population health management company and, for accounting purposes, the successor to P3 Health Group Holdings, LLC and its subsidiaries after the consummation of a series of business combinations in December 2021 with Foresight Acquisition Corp. As the sole manager of P3 LLC, P3 operates and controls all of the business and affairs of P3 LLC and P3's only assets are equity interests in P3 LLC. Las Vegas, Nev.-based BDO USA, P.C., the Company's auditor since 2021, issued a "going concern" qualification in its report dated March 26, 2026, citing that the Company has suffered recurring losses from operations and has working capital deficiencies that raise substantial doubt about its ability to continue as a going concern. As of March 31, 2026, the Company had $674.2 million in total assets, $807.3 million in total liabilities, $10.4 million in mezzanine equity, and $143.5 million in total stockholders' equity. PACS LLC: Seeks to Hire Ridings Law Firm as Bankruptcy Counsel -------------------------------------------------------------- PACS LLC seeks approval from the U.S. Bankruptcy Court for the Eastern District of Missouri to hire Ridings Law Firm as its bankruptcy counsel. The firm will render these services: a) assist and advise the Debtor relative to the administration of this proceeding; b) advise the Debtor with respect to its powers and duties as debtor-in-possession in the continued management and operation of its business and property; c) represent the Debtor before the Bankruptcy Court and advise the Debtor on pending litigation, hearings, motions, and decisions of the Bankruptcy Court; d) review and advise the Debtor regarding applications, orders, and motions filed with the Bankruptcy Court by third parties in this proceeding; e) attend meetings conducted pursuant to section 341(a) of the Bankruptcy Code and represent Debtor at all examinations; f) communicate with creditors and other parties in interest; g) assist Debtor in preparing all motions, applications, answers, orders, reports, and papers necessary to the administration of the estate; h) confer with other professionals retained by Debtor and other parties in interest; i) negotiate and prepare Debtor's chapter 11 plan, related disclosure statement, and all related agreements and documents and take any necessary actions on Debtor's behalf to obtain confirmation of the plan; and j) perform all other necessary legal services and provide all other necessary legal advice to Debtor in connection with this chapter 11 case. The hourly rates for Ridings Law Firm attorneys and paralegals range between $350 to $450 for attorneys, and $125 to $150 for paralegals. The current hourly rate for William H Ridings Jr is $350. Ridings Law Firm is a "disinterested person," as that term is defined in section 101(14) of the Bankruptcy Code and modified by section 1107(b), according to court filings. The firm can be reached at: William H Ridings Jr, Esq. RIDINGS LAW FIRM 2510 S Brentwood Blvd Saint Louis, MO 63144 Telephone: (314) 968-1313 E-mail: ridingslaw2010@yahoo.com About PACS LLC PACS LLC filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. E.D. Mo. Cace No. 26-42255) on May 22, 2026, listing $100,001 to $500,000 in both assets and liabilities. William H. Ridings, Jr., Esq. at Ridings Law Firm serves as the Debtor's counsel. PEAK NA US: Seeks to Extend Plan Exclusivity to Sept. 1 ------------------------------------------------------- Peak NA US RPM Acquisition Inc. asked the U.S. Bankruptcy Court for the Southern District of Alabama to extend its exclusivity periods to file a plan of reorganization and obtain acceptance thereof to Sept. 1 and Oct. 27, 2026, respectively. The Debtor explains that it is continuing efforts to facilitate a sale of its principal asset, membership interests in Real Performance Machinery LLC, a non-Debtor affiliate (the "Membership Interests"). The Debtor states that set for hearing on June 2, 2026, is a stay relief motion through which Michael Sawer seeks to exercise his non-bankruptcy remedies regarding a significant portion of the Membership Interests held by the Debtor. Given the foregoing, the Debtor respectfully requests extensions of the 120 and 180-day deadlines in Sections 1121(b) and (c) of the Bankruptcy Code to file a plan and disclosure statement and solicit acceptances for such a plan. This is the Debtor's first request for an extension of the exclusive periods. The requested extension is reasonable given the Debtor's progress to date and the current posture of this case. The Debtor asserts that the requested extension of the exclusive periods is not unduly burdensome or prejudicial to any parties in interest in this case. Accordingly, the Debtor requests a 90-day extension of the exclusive periods in Sections 1121(b) and (c) of the Bankruptcy Code. Peak NA US RPM Acquisition Inc. is represented by: Edward J. Peterson, Esq. Berger Singerman LLP 1450 Brickell Avenue, Suite 1900 Miami, FL 33131 Tel: (305) 714-4375 Fax: (305) 714-4340 Email: jguso@bergersingerman.com About Peak NA US RPM Acquisition Inc. Peak NA US RPM Acquisition Inc., based in Irvington, Alabama, operates as a corporate acquisition vehicle focusing on industrial machinery and equipment for the wood-processing industry. Peak NA US RPM Acquisition Inc. sought relief under Chapter 11 of the Bankruptcy Code filed its voluntary petition for Chapter 11 protection (Bankr. S.D. Ala. Case No. 26-10280) on Jan. 30, 2026, listing as much as $10 million to $50 million in both assets and liabilities. Brian Fehr as director, signed the petition. Judge Henry A Callaway oversees the case. BERGER SINGERMAN LLP serve as the Debtor's legal counsel. PLANET GREEN: CFO Lili Hu Resigns; Wei Li Appointed Successor ------------------------------------------------------------- Planet Green Holdings Corp. announced in a regulatory filing that the Board of Directors received a resignation letter from Ms. Lili Hu, the Chief Financial Officer of the Company and a member of the Board, notifying the Company of her decision to resign from such positions effective immediately. Ms. Hu's resignation was for personal reasons and was not the result of any disagreement with the Company on any matter relating to the Company's operations, policies or practices. On the same day, the Board appointed Ms. Wei Li as the Chief Financial Officer of the Company and as a member of the Board, effective immediately. Ms. Li, age 34, has over 10 years of experience in financial management, accounting and auditing. From September 2025 to May 2026, she served as an audit manager at Wuhan Pingdaochuan CPA, where she was responsible for auditing of financial statements, internal control review and due diligence projects. From August 2019 to September 2025, Ms. Li served as Chief Financial Officer of Jiayi Technology (Xianning) Co., Ltd., a former subsidiary of the Company, where she led the establishment of financial reporting and internal control systems in preparation for capital markets activities, managed audit and due diligence processes, and oversaw cost control, tax planning and financial analysis. From June 2015 to August 2019, Ms. Li served as a cost accountant and later finance manager at Hubei Ninggang Aluminum Processing Co., Ltd., where she was responsible for cost accounting, financial reporting and tax compliance. Ms. Li holds the qualification of Intermediate Accountant in the People's Republic of China. Ms. Li received her bachelor's degree in finance from Hubei Technology College in June 2015. There are no arrangements or understandings between Ms. Li and any other persons pursuant to which she was appointed as Chief Financial Officer or as a director. There are no family relationships between Ms. Li and any director or executive officer of the Company. Ms. Li has not been involved in any transactions requiring disclosure under Item 404(a) of Regulation S-K. In connection with her appointment, Ms. Li will receive compensation consistent with the Company's compensation practices for similarly situated executive officers. Any material compensatory arrangements will be disclosed once finalized. About Planet Green Planet Green Holdings Corp., headquartered in Flushing, New York, functions as a Nevada-incorporated holding company rather than an operating entity in mainland China. Its business operations are conducted through subsidiaries based in the PRC, Hong Kong, and Canada. The Company engages in diverse sectors, including consumer goods, chemical products, and online advertising. Irvine, California -based YCM CPA INC, the Company's auditor since 2022, 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 records an accumulated deficit as of December 31, 2025, and currently has a working capital deficit, continued net losses and negative cash flows from 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 $10.21 million in total assets, $12.38 million in total liabilities, and $2.17 million in total stockholders' deficit. POWER REIT: Preferred Shareholders Report Beneficial Ownership -------------------------------------------------------------- Bradley & Daytona Railway and Land Co. LLC, Alexander Kachmar, D & C Cacciapaglia Living Trust U/A DTD 02/01/2013, and David Cacciapaglia Family Trust U/A DTD 11/25/2020 disclosed in a Schedule 13D (Amendment No. 4) filed with the U.S. Securities and Exchange Commission that as of May 26, 2026, they beneficially own the following shares of Power REIT's Series A Cumulative Redeemable Perpetual Preferred Stock Liquidation Preference $25 per Share: * Bradley & Daytona Railway and Land Co. LLC -- 15,052 shares, representing 4.5% of the shares outstanding. * Alexander Kachmar -- 8,987, representing 2.7% of the shares outstanding. * D & C Cacciapaglia Living Trust, U/A DTD 02/01/2013 -- 9,439 shares, representing 2.8% of the shares outstanding. * David Cacciapaglia Family Trust, U/A DTD 11/25/2020 -- 3,872 shares, representing 1.1% of the shares outstanding. Based on the 336,944 shares of Series A Preferred Stock outstanding as of March 31, 2026, as disclosed by the Issuer in its Quarterly Report on Form 10-Q for the quarter ended March 31, 2026, filed with the SEC on May 15, 2026. Bradley & Daytona Railway and Land Co. LLC may be reached through: Alexander Kachmar Bradley & Daytona Railway and Land Co. LLC 5753 Highway 85 N PMB 5974 Crestview, FL 32536 Tel: 973-979-1329 A full-text copy of Bradley & Daytona Railway and Land Co.'s SEC report is available at: https://tinyurl.com/yaucew7y About Power REIT Old Bethpage, N.Y.-based Power REIT is a Maryland-domiciled, internally managed real estate investment trust that owns a portfolio of real estate assets related to transportation, energy infrastructure, and controlled environment agriculture in the United States. Houston, Texas-based MaloneBailey, LLP, the Trust's auditor since 2015, issued a "going concern" qualification in its report dated March 31, 2026, attached to the Annual Report on Form 10-K for the year ended December 31, 2025, citing that the Trust has suffered recurring losses, recurring negative cash flow from operations and reduced revenues that raise substantial doubt about its ability to continue as a going concern. As of December 31, 2025, the Company had $26.9 million in total assets, $21.8 million in total liabilities, and $5.1 million in total equity. PPS REALTY: Hires Robert C. Nisenson LLC as Bankruptcy Counsel -------------------------------------------------------------- PPS Realty 449 Rushmore Avenue LLC seeks approval from the U.S. Bankruptcy Court for the District of New Jersey to hire Robert C. Nisenson, LLC to handle the bankruptcy proceedings. The Debtor will pay a retainer of $3,000 and $1,726 for filing fees and will be billed at the rate of $350 per hour. Robert C. Nisenson LLC is a disinterested person under 11 U.S.C. Sec. 101(14), according to court filings. The firm can be reached through: Robert C. Nisenson, Esq. ROBERT C. NISENSON, LLC 10 Auer Court East Brunswick, NJ 08816 Tel: (732) 238-8777 Email: r.nisenson@rcn-law.com About PPS Realty 449 Rushmore Avenue LLC PPS Realty 449 Rushmore Avenue LLC is a limited liability company engaged in property ownership and real estate-related operations. PPS Realty 449 Rushmore Avenue LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-15300) on May 11, 2026. In its petition, the Debtor reported estimated assets between $100,001 and $1 million and estimated liabilities between $0 and $100,000. The Debtor is represented by Robert C. Nisenson, Esq. of Robert C. Nisenson, LLC. PROGRESSIVE BUILDERS: Commences Chapter 7 Bankruptcy in New York ---------------------------------------------------------------- On June 2, 2026, Progressive Builders NYC Corp. filed for Chapter 7 protection in the U.S. Bankruptcy Court for the Southern District of New York. According to court filings, the Debtor reports between $100,001 and $1 million in debt owed to between 1 and 49 creditors. Statement of Financial Affairs and Declaration of Schedules are due June 16, 2026. About Progressive Builders NYC Corp. Progressive Builders NYC Corp. is a construction company engaged in residential and commercial building, renovation, and contracting services. Progressive Builders NYC Corp. sought relief under Chapter 7 of the U.S. Bankruptcy Code (Bankr. Case No. 26-11323) on June 2, 2026. In its petition, the Debtor reports estimated assets of $100,001 to $1 million and estimated liabilities of $100,001 to $1 million. The Honorable Bankruptcy Judge Martin Glenn handles the case. QHSLAB INC: Reports 57% Revenue Growth in April 2026 ---------------------------------------------------- QHSLab, Inc. announced in a regulatory filing that on May 26, 2026, the Company issued a shareholder update regarding certain recent operational developments, including: I. Unaudited April 2026 revenue results; II. The Company's development of the QHS Practice Access Network (PAN), a relationship-driven independent representative initiative designed to support growth of the Company's Q-Connect platform; and III. The Company's planned participation in the 2026 Planet MicroCap Showcase conference June 16–18, 2026. Below is the full text: Dear Shareholders, As we continue building QHSLab, a scalable digital healthcare infrastructure company for primary care practices, we wanted to provide shareholders with updates regarding several recent important operational and strategic business performance, market expansion initiatives, and upcoming investor visibility opportunities. April 2026 Unaudited Revenue Update QHSLab is pleased to report that unaudited revenue for April 2026 was approximately $325,889, compared to $207,538 during the same period in 2025, representing year-over-year growth of approximately 57%. This continued growth reflects increasing utilization of the Company's digital medicine platform, ongoing expansion of the integrated service program (ISP), and continued demand from physician practices seeking operationally integrated patient engagement and reimbursement solutions. The Company remains focused on expanding recurring revenue opportunities through practice activation, improved assessment completion rates, and broader adoption of Q-Connect within primary care environments. Introduction of the QHS Practice Access Network (PAN) QHSLab is also introducing a new growth initiative developed internally which is now market ready known as the QHS Practice Access Network (PAN), a nationwide independent representative initiative designed to accelerate adoption of the Company's Q-Connect platform. The program is built around a relationship-driven market access strategy that leverages highly connected healthcare professionals, consultants, and medical industry representatives who already maintain trusted relationships with physician owners, practice administrators, and healthcare decision-makers. Unlike traditional cold-call sales models, the PAN initiative is designed to create warm introductions into qualified practices, reduce customer acquisition friction, improve onboarding efficiency, and accelerate operational activation of new accounts. Management believes healthcare adoption continues to be heavily influenced by trust, reputation, and existing professional relationships, particularly within independent and regional primary care groups. By utilizing independent representatives who already possess deep physician relationships and operational familiarity, the Company believes it can significantly improve the pace and efficiency of new practice opportunities entering the QHSLab pipeline. The PAN initiative is intended to complement the Company's internal sales and implementation teams by focusing resources on pre-qualified opportunities while simultaneously expanding national market reach. Planet MicroCap Conference June 16-18, 2026 QHSLab is pleased to announce that the Company will be presenting at the 2026 Planet MicroCap Showcase, one of the leading conferences focused on connecting emerging growth public companies with institutional and retail investors. Participation in the Planet MicroCap conference provides an important opportunity to increase investor awareness, expand visibility within the microcap investment community, and communicate the Company's evolving digital health growth strategy to new potential shareholders and strategic market participants. The event brings together public company executives, investors, analysts, and industry participants focused on identifying emerging growth opportunities across multiple sectors, including healthcare technology and digital health. As QHSLab continues executing its growth initiatives, management remains focused on expanding operational scale, increasing recurring revenue opportunities, strengthening physician adoption, and building long-term shareholder value. A full text copy of the shareholder update is available at https://tinyurl.com/mse2h4mp About QHSLab, Inc. Beach, Fla.-based QHSLab, Inc. is a medical device technology and software-as-a-service company focused on enabling primary care physicians to increase their revenues by providing them with relevant, value-based tools to evaluate and treat chronic disease as well as provide preventive care through reimbursable procedures. Tampa, Florida-based Astra Audit & Advisory, LLC, the Company's auditor since 2024, issued a "going concern" qualification in its report dated March 30, 2026, citing that the Company has only recently operated profitably, is highly leveraged and has only recently begun to generate cash from operations. These conditions raise substantial doubt about its ability to continue as a going concern. As of March 31, 2026, the Company had $1.89 million in total assets, $368,005 in total liabilities, and $1.52 million in total stockholders' equity. QUIKRETE HOLDINGS: S&P Alters Outlook to Stable, Affirms 'BB' ICR ----------------------------------------------------------------- S&P Global Ratings revised its outlook on Atlanta-based Quikrete Holdings Inc. to stable from negative and affirmed its 'BB' issuer credit rating and all issue-level ratings. The stable outlook reflects S&P's expectations that the company will continue generating sufficient cash flow such that its adjusted leverage remains in the 4x-5x range over next 12 months. S&P said, "We forecast Quikrete's adjusted leverage to be 4x-5x over the next 12 months. Quikrete's acquisition of Summit Materials using mostly debt raised its S&P Global Ratings-adjusted debt leverage to slightly over 8x in the first quarter of 2025. Quikrete has since worked to successfully integrate the businesses and realize synergistic benefits from the acquisition such that its adjusted debt leverage improved to 4.6x on a rolling-twelve-months basis as of March 31, 2026. We expect growth in its cement, ready-mix, aggregates, and ductile iron pipe segments, which allow the company to generate robust earnings, to offset softness in its Custom (tiles) and Contech (engineered water infrastructure) segments. "We expect Quikrete to generate robust, positive free cash flows over the next 24 months. We forecast Quikrete to continue generating positive free cash flow of about 5%-7% of debt, improving to about 12%-14% of debt in 2027 due to solid working capital management and normalized capital spending. While we expect the company to remain acquisitive, we believe the company will focus on smaller, strategic tuck-in acquisitions that utilize internally generated cash over the next six to 12 months." Quikrete's vertical integration of Summit Materials enhance its competitive position and supply chain. Quikrete's concrete and cement-based business segments complement the addition of Summit's aggregates, cement, and ready-mix concrete businesses by providing a steady supply of critical input materials. This helps mitigate aggregate and cement material cost inflation concerns, stabilizes its supply chain, and provides a consistent cement and aggregate input source for Quikrete's downstream products. The stable outlook reflects S&P's view that leverage will remain in the 4x-5x range for 2026 as the company continues to generate robust earnings amid softness in some end markets. -- Debt to EBITDA trends toward 5x, or -- EBITDA to interest coverage falls below 2x. S&P could raise its ratings on Quikrete if the company generates strong operating results with: -- Debt to EBITDA is comfortably below 4x and -- EBITDA margins improving or remaining at current levels. RAMDEEN'S ELECTRICAL: Hires James J. DeCristofaro Esq. as Counsel ----------------------------------------------------------------- Ramdeen's Electrical Contracting Corp. seeks approval from the U.S. Bankruptcy Court for the Eastern District of New York to hire The Lawyer James J. DeCristofaro, Esq., P.C. as counsel. The firm's services include: a. providing advice to the Debtor with respect to its powers and duties under the Bankruptcy Code in the continued operation of Debtor's business and the management of its affairs and property; b. negotiating with creditors of the Debtor, preparing a plan of reorganization and taking the necessary legal steps to consummate a plan, including, if necessary, negotiations with respect to financing a plan; c. appearing before the various taxing authorities to work out a plan to pay taxes owing in installments; d. preparing on the Debtor's behalf necessary applications, motions, answer, replies, discovery requests, orders, reports and other pleading and legal documents; e. appearing before this Court to protect the interests of the Debtor and the Debtor's estate, and representing the Debtor in all matters pending before this Court and any other Court or Judicial Tribunal; f. performing all other legal services for the Debtor that may be necessary; and g. assisting the Debtor in connection with all aspects of its Chapter 11 case. The firm will bill $595 per hour for services rendered. As disclosed in the court filings, The Lawyer James J. DeCristofaro, Esq., P.C. and its attorneys are "disinterested persons" as that term is defined in section 101(14) of the Bankruptcy Code. The firm can be reached through: James J. DeCristofaro, Esq. The Lawyer James J. DeCristofaro, Esq., P.C. 485 Madison Ave Fl 7 New York, NY 10022 Phone: (212) 500-1891 Email: james@dclfirm.com About Ramdeen's Electrical Contracting Corp. Ramdeen's Electrical Contracting Corp. provides residential, commercial, and industrial electrical contracting services from its base in South Richmond Hill, New York, serving clients across New York City, Long Island, and the Hudson Valley, and is licensed to perform a range of electrical and home improvement work. Ramdeen's Electrical Contracting Corp. filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. E.D.N.Y. Case No. 25-44811) on October 2, 2025, listing $566,881 in assets and $6,981,871 in liabilities. The petition was signed by Mark Ramdeen as vice president. Judge Nancy Hershey Lord presides over the case. James J. DeCristofaro, Esq. at THE LAWYWER JAMES J. DECRISTOFARO, ESQ. P.C. serves as the Debtor's counsel. RAZIF MANAGEMENT: Hires Modestas Law Offices PC as Counsel ---------------------------------------------------------- Razif Management, Inc. seeks approval from the U.S. Bankruptcy Court for the Northern District of Illinois to hire Modestas Law Offices, PC as counsel. The firm will provide these services: (a) negotiate with creditors; (b) prepare a plan and financial statements; (c) examine and resolve claims filed against the estate; (d) prepare pleadings filed in the case; (e) interact with the Trustee in this case; (f) attend at court hearings; and (g) represent the Debtor in matters before this court. Saulius Modestas, Esq., the primary attorney in this representation, will be billed at his hourly rate of $550 plus out-of-pocket expenses. Mr. Modestas 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: Saulius Modestas, Esq. Modestas Law Offices, PC 401 S. Frontage Road, Ste. C Burr Ridge, IL 60527 Telephone: (312) 251-4460 Email: smodestas@modestaslaw.com About Razif Management Inc. Razif Management Inc., a Melrose Park, Illinois-based general contractor, provides residential interior remodeling services in the Chicago area. The Company specializes in construction and renovation projects for homeowners, with a focus on countertops, bathrooms and kitchens. Razif Management Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 25-14280) on September 17, 2025. In its petition, the Debtor reports estimated assets between $100,000 and $500,000 and estimated liabilities between $1 million and $10 million. Honorable Bankruptcy Judge Timothy A. Barnes handles the case. The Debtor is represented by Saulius Modestas, Esq., at Modestas Law Offices, P.C. RED RIVER: Paul Hastings Reaches Deal in Ch. 11 Fee Fight --------------------------------------------------------- James Nani of Bloomberg Law reports that a fee battle tied to Johnson & Johnson's failed talc bankruptcy strategy has ended, with Paul Hastings LLP and Red River Talc LLC reaching a confidential settlement over compensation claims worth millions of dollars. Court papers filed Tuesday, June 2, 2026, show the law firm will withdraw requests seeking approval of its retention and payment for services provided during the Chapter 11 case. Paul Hastings had acted as co-counsel to a committee representing talc claimants during the proceedings. Both sides agreed to keep the financial and legal terms of the settlement confidential. The arrangement resolves disputes that arose after the bankruptcy case failed to move forward and left professional fee requests unresolved, the report states. The agreement removes a remaining source of litigation from the bankruptcy proceedings and allows the parties to avoid additional court fights over professional compensation and estate administration issues, according to Law360. About J&J Talc Units LLT Management, LLC (formerly known as LTL Management LLC) was a subsidiary of Johnson & Johnson that was formed to manage and defend thousands of talc-related claims and oversee the operations of Royalty A&M. Royalty A&M owns a portfolio of royalty revenue streams, including royalty revenue streams based on third-party sales of LACTAID, MYLANTA/MYLICON and ROGAINE products. LTL Management first filed a petition for Chapter 11 protection (Bankr. W.D.N.C. Case No. 21-30589) on Oct. 14, 2021. The case was transferred to New Jersey (Bankr. D.N.J. Case No. 21-30589) on Nov. 16, 2021. The Hon. Michael B. Kaplan is the case judge. At the time of the filing, the Debtor was estimated to have $1 billion to $10 billion in both assets and liabilities. In the 2021 case, LTL Management tapped Jones Day and Rayburn Cooper & Durham, P.A., as bankruptcy counsel; King & Spalding, LLP and Shook, Hardy & Bacon LLP as special counsel; McCarter & English, LLP as litigation consultant; Bates White, LLC as financial consultant; and AlixPartners, LLP as restructuring advisor. Epiq Corporate Restructuring, LLC, served as the claims agent. On Dec. 24, 2021, the U.S. Trustee for Regions 3 and 9 reconstituted the talc claimants' committee and appointed two separate committees: (i) the official committee of talc claimants I, which represents ovarian cancer claimants, and (ii) the official committee of talc claimants II, which represents mesothelioma claimants. The official committee of talc claimants I tapped Genova Burns LLC, Brown Rudnick LLP, Otterbourg PC and Parkins Lee & Rubio LLP as its legal counsel. Meanwhile, the official committee of talc claimants II is represented by the law firms of Cooley LLP, Bailey Glasser LLP, Waldrep Wall Babcock & Bailey PLLC, Massey & Gail LLP, and Sherman Silverstein Kohl Rose & Podolsky P.A. Re-Filing of Chapter 11 Petition On Jan. 30, 2023, a panel of the Third Circuit issued an opinion directing this Court to dismiss the 2021 Chapter 11 Case on the basis that it was not filed in good faith. Although the Third Circuit panel recognized that the Debtor "inherited massive liabilities" and faced "thousands" of future claims, it concluded that the Debtor was not in financial distress before the filing. On March 22, 2023, the Third Circuit entered an order denying the Debtor's petition for rehearing. The Third Circuit entered an order denying LTL's stay motion on March 31, 2023, and, on the dame day,issued its mandate directing the Bankruptcy Court to dismiss the 2021 Chapter 11 Case. The Bankruptcy Court entered an order dismissing the 2021 Case on April 4, 2023. Johnson & Johnson on April 4, 2023, announced that its subsidiary LTL Management LLC (LTL) has re-filed for voluntary Chapter 11 bankruptcy protection (Bankr. D.N.J. Case No. 23-12825) to obtain approval of a reorganization plan that will equitably and efficiently resolve all claims arising from cosmetic talc litigation against the Company and its affiliates in North America. In the new filing, J&J said it has agreed to contribute up to a present value of $8.9 billion, payable over 25 years, to resolve all the current and future talc claims, which is an increase of $6.9 billion over the $2 billion previously committed in connection with LTL's initial bankruptcy filing in October 2021. LTL also has secured commitments from over 60,000 current claimants to support a global resolution on these terms. In August 2023, U.S. Bankruptcy Judge Michael Kaplan in Trenton, New Jersey, ruled that the second bankruptcy case should be dismissed. 3rd Try In May 2024, J&J announced its subsidiary LLT Management LLC is soliciting support for a consensual prepackaged bankruptcy plan to resolve its talc-related liabilities. Under the terms of the plan, a trust would be funded with over $5.4 billion in the first three years and more than $8 billion over the course of 25 years, which J&J calculates to have a net present value of $6.475 billion. If the Plan is accepted by at least 75% of voters, a bankruptcy was to be filed under the case name In re Red River Talc LLC. Epiq Corporate Restructuring, LLC is serving as balloting and solicitation agent for LLT. On Sept. 20, 2024, Red River Talc LLC filed a Chapter 11 bankruptcy petition (Bankr. S.D. Tex. Case No. 24-90505). Porter Hedges LLP and Jones Day serve as counsel in the new Chapter 11 case. Epiq is the claims agent. Paul Hastings LLP is counsel to the Ad Hoc Committee of Supporting Counsel. Randi S. Ellis is the proposed prepetition legal representative of future claimants. RIBBIT ROOFING: Frances Smith Named Subchapter V Trustee -------------------------------------------------------- The U.S. Trustee for Region 6 appointed Frances Smith, Esq., at Ross, Smith & Binford, PC, as Subchapter V trustee for Ribbit Roofing LLC. Ms. Smith will be paid an hourly fee of $475 for her services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Ms. Smith declared that she is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Frances A. Smith, Esq. Ross, Smith & Binford, PC 700 N. Pearl Street, Ste. 1610 Dallas, TX 75201 Phone: 214-593-4976 Fax: 214-377-9409 Email: frances.smith@rsbfirm.com About Ribbit Roofing LLC Ribbit Roofing LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Texas Case No. 26-42160) on May 18, 2026, with $1,000,001 to $10 million in assets and liabilities. Matthew W. Bobo, Esq. at the Law Office Of Matthew Bobo represents the Debtor as legal counsel. ROADSIDE TOWING: Case Summary & 20 Largest Unsecured Creditors -------------------------------------------------------------- Debtor: Roadside Towing & Recovery, Inc. 3879 Regatta Ct Lewis Center, OH 43035 Business Description: Roadside Towing & Recovery, Inc. operates Columbus Roadside Towing, a Columbus, Ohio-based provider of towing and roadside assistance services serving the Central Ohio region. The company operates a fleet of 18 tow trucks and provides services including emergency, flatbed, impound, parking garage, auction, fleet contract, and police towing, along with lockout service, jump starts, fuel delivery, tire changes, and voluntary repo towing. The company serves motorists, auto dealerships, and body shops. Chapter 11 Petition Date: June 1, 2026 Court: United States Bankruptcy Court Southern District of Ohio Case No.: 26-52630 Judge: Hon. Mina Nami Khorrami Debtor's Counsel: Paul H. Shaneyfelt, Esq. SHANEYFELT & ASSOCIATES, LLC 315 Public Square, Suite 204 Troy, OH 45373 Tel: 937-216-7727 Fax: 937-552-9954 Email: paulshaneyfeltlaw@gmail.com Total Assets: $369,263 Total Liabilities: $1,051,345 The petition was signed by Christopher Peer as sole shareholder. 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/HGOTZGQ/Roadside_Towing__Recovery_Inc__ohsbke-26-52630__0001.0.pdf?mcid=tGE4TAMA ROCKY MOUNTAIN: Posts $4.6MM Loss in FY26; Going Concern Persists ----------------------------------------------------------------- Rocky Mountain Chocolate Factory, Inc. has filed with the U.S. Securities and Exchange Commission its Annual Report on Form 10-K for the year ended February 28, 2026, reporting a net loss of $4.6 million in FY 2026, compared to a net loss of $6.1 million in FY 2025. Total revenue of the FY 2026 was $28.1 million, compared to $30.6 million in FY 2025. Los Angeles, California-based CohnReznick LLP, the Company's auditor since 2023, issued a "going concern" qualification in its report dated May 29, 2026, attached to the Company's Annual Report on Form 10-K for the year ended February 28, 2026, citing that the Company has incurred recurring losses and negative cash flows from operations in recent years and is dependent on debt and equity financing to fund its operations, all of which raise substantial doubt about the Company's ability to continue as a going concern. Liquidity and Capital Resources As of February 28, 2026, working capital was $2.0 million compared with $2.4 million as of February 28, 2025. The decrease in working capital was due primarily to a net change in accounts receivable and accounts payable. Expected future cash requirements include supporting current operations and building inventory including capital expenditures to support our business. Cash and cash equivalent balances increased from $0.7 million as of February 28, 2025 to $1.2 million as of February 28, 2026 primarily as a result of proceeds of $1.2 million from the RMCF2 Credit Agreement and gross proceeds of $2.7 million from the sale of 1,500,000 shares of common stock pursuant to a securities purchase agreement with the Purchaser. The Company's current ratio was 1.29 to 1.0 on February 28, 2026 compared to 1.34 to 1.0 on February 28, 2025. The Company monitors current and anticipated future levels of cash and cash equivalents in relation to anticipated operating, financing and investing requirements. During FY 2026, the Company had a consolidated net loss of $4.6 million. Operating activities used cash of $1.8 million, with the principal adjustments to reconcile net income to net cash used in operating activities being depreciation and amortization of $1.4 million, a decrease in inventory reserve of $0.4 million, stock compensation expense of $0.3 million, deferred income taxes of $0.2 million, provision for recovery on accounts and notes receivable of $0.2 million, and change in operating assets and liabilities of $1.3 million. During FY 2025, the Company had a consolidated net loss of $6.1 million. Operating activities used cash of $6.6 million, with the principal adjustments to reconcile net income to net cash used in operating activities being depreciation and amortization of $1.0 million, an increase in inventory reserve of $0.3 million, stock compensation expense of $0.3 million, a gain on the sale of assets of $0.2 million, and a change in operating assets and liabilities of $1.8 million. During FY 2026, investing activities used cash of $0.8 million, primarily due to the purchases of property and equipment of $0.6 million and the acquisition of the retail store in Camarillo, California of $0.2 million. Investing activities used cash of $1.7 million during FY 2025, primarily due to the purchases of property and equipment of $3.8 million, partially offset by investing cash flow from the sale of assets of $2.3 million. During FY 2026, financing activities provided cash of $3.1 million, primarily due to proceeds from notes payable of $1.8 million and issuance of common stock through a securities purchase agreement with the Purchaser of $2.7 million, partially offset by stock issuance costs of $0.2 million, payment on notes payable of $1.2 million, and payment of debt issuance costs of $10 thousand. In comparison, financing activities provided cash of $6.9 million during FY 2025, primarily due to proceeds from notes payable of $6.0 million, proceeds from drawing on a line of credit of $2.2 million, and issuance of common stock of $2.2 million, partially offset by the payment on the line of credit of $3.5 million and payment of debt issuance costs of $0.1 million. The Company's ability to continue as a going concern is dependent on its ability to continue to implement its business plan. The Company continues to explore supplemental liquidity resources and alternatives sources of debt financing to reduce interest expense. The Company intends to continue to reduce overhead costs, improve manufacturing efficiencies, and increase profits and gross margins by better aligning its costs with the delivery and sale to its franchise system, current and new specialty market customers and e-commerce customers. The Company also intends to develop and enhance third-party delivery channels for all current and new franchised locations, including introducing new websites for each location which is expected to increase franchise sales. The Company has implemented a corporate sales strategy to add new stores and transfer existing stores to new owners when appropriate, while also requiring most existing stores to undergo a remodel which has historically resulted in increased store level sales after completion. There are no assurances that the Company will be successful in implementing its business plan. A full text copy of the Company's Form 10-K is available at https://tinyurl.com/vtwjju4b About Rocky Mountain Chocolate Factory Durango, Colo.-based Rocky Mountain Chocolate Factory, Inc. is an international franchisor, confectionery producer, and retail operator. Founded in 1981, the Company produces an extensive line of premium chocolate candies and other confectionery products. As of February 28, 2026, the Company had $20.2 million in total assets, $15 million in total liabilities, and $5.2 million in total stockholders' equity. ROLLING GREENS: Court OKs $350,000 Interim DIP Loan --------------------------------------------------- Rolling Greens Nursery, Inc., a California corporation, received interim approval from the U.S. Bankruptcy Court for the Central District of Calfornia, Los Angeles Division, to obtain post-petition financing to get through bankruptcy. The financing is a $350,000 debtor-in-possession loan from Greg Salmeri, owner and chief executive officer of the Debtor. In exchange, the lender will receive superpriority claims and liens on substantially all estate assets, subordinate only to a professional fee carveout protecting estate professionals and the Subchapter V trustee. The loan is interest-free, carries no fees, and does not require payments until maturity (set no later than May 20, 2027, or earlier upon asset sale, plan confirmation, or default). The Debtor also received interim approval to use cash collateral under a 13-week budget, with limited flexibility to exceed budgeted amounts by 20%, adjust spending with revenue changes, and carry forward unused funds across weeks. The Debtor offers to protect those creditors from any diminution in value of their collateral through replacement liens on its post-petition assets. The order is available at http://bankrupt.com/misc/RollingGreensNursery_IDIPOrder.pdf Rolling Greens Nursery is in immediate liquidity distress, with only about $2,600 in cash on hand and insufficient working capital to meet payroll and operating expenses. It argued that no alternative financing is available on better terms, making the insider DIP loan the only viable source of funding. The Debtor is a 40-year-old business operating multiple retail, design, and event-service locations in Los Angeles, including Culver City, Beverly Grove, and the DTLA Arts District. Historically, the Debtor was profitable through its commercial services divisions (interior plantscaping, landscape design, and holiday installations), but it suffered significant losses after expanding aggressively in 2022 into additional retail locations in Studio City, Santa Monica, and Commerce. These new leases, signed at high post-COVID rents, became unprofitable due to shifting consumer behavior away from brick-and-mortar retail, declining discretionary spending, and additional local economic disruptions including wildfire impacts. These expansion-driven liabilities, combined with broader market pressures, caused the Debtor's financial distress. The Debtor has already undertaken restructuring steps, including closing underperforming stores, reducing rent obligations by approximately $1.8 million annually through exits and lease renegotiations, and cutting labor costs by about $1 million per year. It is also implementing operational upgrades such as new point-of-sale and inventory systems. Despite these efforts, the company remains unable to meet obligations without bankruptcy protection and financing support. As of filing, the Debtor reported approximately $500,000 in receivables, about $2.4 million in inventory (at cost, likely lower in liquidation), and limited fixed assets, alongside significant liabilities including SBA-secured debt, equipment and vehicle financing, tax obligations, and roughly $16 million in general unsecured debt (much of which includes insider advances). About Rolling Greens Nursery Inc. Rolling Greens Nursery, Inc. is a Commerce, California-based retail nursery and lifestyle company specializing in plants, home décor, and landscape design services. Rolling Greens Nursery filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. C.D. Calif. Case No. 26-14978) on May 20, 2026, with assets of between $1 million and $10 million and liabilities of between $10 million and $50 million. Laurie Resnick, co-chief executive officer and director, signed the petition. Judge Neil W. Bason oversees the case. The Debtor tapped David B. Zoklin, Esq., at Weintraub Zolkin Talerico & Liu, LLP as legal counsel and Keegan Linscott & Associates, PC as financial advisor. ROOTED ENTERPRISE: Taps Haselden Farrow PLLC as Bankruptcy Counsel ------------------------------------------------------------------ Rooted Enterprise LLC seeks approval from the U.S. Bankruptcy Court for the Southern District of Texas to hire Haselden Farrow PLLC as counsel. The firm will render these services: a. assist, advise and represent Debtor relative to the administration of this Bankruptcy Case; b. assist, advise and represent Debtor in analyzing its assets and liabilities, investigating the extent and validity of liens, and participating in and reviewing any proposed asset sales or dispositions; c. attend meetings and negotiate with the representatives of creditors; d. assist Debtor in the preparation, analysis, and negotiation of any Chapter 11 plan; e. take all necessary action to protect and preserve the interests of the Debtor; f. appear, as appropriate, before this Court, the Appellate Courts, Harris County District Courts, and other Courts in which matters may be heard and to protect the interests of the Debtor before said Courts and the United States Trustee; g. handle litigation that arises regarding claims asserted against Debtor or of its assets; and h. perform all other necessary legal services in these cases. The firm's current hourly billing rates are: Melissa A. Haselden $625 Elyse M. Farrow $495 Associates/Contract Attorneys $495 to $625 Legal Assistants/Paralegals/Law Clerks $175 to $225 The firm holds $8,515.50 as a post-petition retainer. As disclosed in the court filings, Haselden Farrow is to be engaged and is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code. The firm can be reached through: Melissa A. Haselden, Esq. Elyse M. Farrow, Esq. HASELDEN FARROW PLLC 708 Main St., 10th Floor Houston, TX 77002 Tel: (832) 819-1149 Fax: (866) 405-6038 Email: mhaselden@haseldenfarrow.com efarrow@haseldenfarrow.com About Rooted Enterprise LLC Rooted Enterprise LLC is a limited liability company engaged in commercial and operational business activities in Texas. Rooted Enterprise LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-33356) on May 11, 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 Elyse M. Farrow, Esq. and Melissa Anne Haselden, Esq. of Haselden Farrow PLLC. ROTARY AIRLOCK: Court OKs $8.25 Interim DIP Loan From Central Bank ------------------------------------------------------------------ Rotary Airlock, LLC received interim approval from the U.S. Bankruptcy Court for the Northern District of Illinois, Western Division, to obtain post-petition financing to get through bankruptcy. The court authorized the Debtor to get secured financing from Central Bank, Illinois pursuant to the terms of its existing line of credit with the lender to cover the expenditures set forth on its operating budget. Specifically, the court granted the Debtor's bid to increase the revolving line of credit to $8 million from $7 million, with all accounts receivable included in the borrowing base; and to obtain an additional $250,000 term loan. This financing is intended to fund payroll, utilities, insurance, vendor payments, lease obligations, and other ordinary course expenses necessary to maintain operations. Both the line of credit and the new term loan bear interest at 7.5%, mature in six months, require monthly interest payments, and remain supported by the existing guarantors. The Debtor was also granted interim approval to use cash collateral, subject to the interests of Central Bank, the U.S. Small Business Administration and merchant lenders. In exchange, the lenders will be provided with adequate protection through replacement liens on post-petition assets, continued insurance coverage, collateral preservation, inspection rights, and ongoing interest payments to Central Bank at non-default rates. The DIP order is available at http://bankrupt.com/misc/RotaryAirlock_IDIPOrder.pdf The court scheduled the next hearing for July 8. Rotary Airlock is a family-owned manufacturer of rotary valves used in industrial processing across multiple sectors, employing approximately 58 people and generating annual revenues of about $18.6 million in 2024 and $17.9 million in 2025. It operates from multiple facilities in Illinois and relies heavily on its senior lender, Central Bank Illinois (successor to Sauk Valley Bank), for working capital through a revolving line of credit. The Debtor has retained Development Specialists, Inc. as a financial advisor to assist in restructuring efforts. A major factor underlying the Debtor's bankruptcy filing is alleged fraud and misconduct by its former general manager who is accused of exerting improper control over company finances. The former general manager allegedly misappropriated approximately $946,805 in cash, improperly charged over $275,000 in personal expenses to corporate accounts, and caused the Debtor to enter into unauthorized merchant financing transactions totaling about $3.08 million, most of which was allegedly diverted to outside entities he controlled. The Debtor has initiated state court litigation seeking more than $4.2 million in damages, along with punitive and equitable relief, asserting that these actions severely damaged the company’s finances and contributed directly to the bankruptcy. With respect to capital structure, Central Bank holds a first-priority blanket lien on substantially all of the Debtor’s assets securing approximately $12 million in debt, making it the primary secured creditor. The SBA also holds a secured claim of about $1.8 million, subordinate to Central Bank. In addition, several merchant lenders assert disputed claims arising from the allegedly unauthorized financing transactions; the Debtor contends these claims are unsecured and lack collateral value due to its limited asset base, which is estimated at approximately $10.8 million in total. Central Bank, as secured lender, is represented by: Douglas R. Lindstrom, Jr., Esq. Lane & Waterman, LLP 220 N. Main Street, Suite 600 Davenport, IA 52801 Telephone: (563) 324-3246 Facsimile: (563) 324-1616 dlindstrom@l-wlaw.com About Rotary Airlock LLC Rotary Airlock, LLC manufactures, rebuilds, services, and customizes rotary airlock valves for industrial material-handling systems. Founded in 1995, the company is based in Rock Falls, Illinois, and also offers related valves, seals, bearings, installation, and NFPA-69-related services. Rotary Airlock serves manufacturers and processors that use airlocks to move or control bulk materials across production systems. Rotary Airlock sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 26-80841) on May 20, 2026, with between $10 million and $50 million in both assets and liabilities. Benjamin Hilty, president of Rotary Airlock, signed the petition. David K. Welch, Esq., at Burke, Warren, MacKay & Serritella, P.C. represents the Debtor as legal counsel. SAKS GLOBAL: Cleared to Exit Chapter 11 Under $500M Recovery Plan ----------------------------------------------------------------- Rick Archer of Law360 Bankruptcy Authority reports that Saks Global won court approval Friday for its Chapter 11 reorganization plan, paving the way for the retailer to shed the majority of its debt and obtain $500 million in new capital. The ruling allows the company to move toward emergence from bankruptcy with enhanced financial flexibility and a streamlined balance sheet. The luxury retail company, known for serving affluent consumers through department stores and online channels, filed for bankruptcy protection to address a heavy debt load and strengthen its financial foundation. During the Chapter 11 process, Saks negotiated a restructuring supported by key creditor groups that significantly reduces liabilities while preserving the value of the business, the report states. The confirmed plan provides fresh funding to support future operations and growth initiatives after bankruptcy. Saks said the restructuring will allow it to focus on strategic investments, improve liquidity, and better navigate evolving consumer trends in the competitive luxury retail marketplace, according to Law360. About Saks Global Enterprises LLC Saks Global is the largest multi-brand luxury retailer in the world, comprising Saks Fifth Avenue, Neiman Marcus, Bergdorf Goodman, Saks OFF 5TH, Last Call and Horchow. Its retail portfolio includes 70 full-line luxury locations, additional off-price locations and five distinct e-commerce experiences. With talented colleagues focused on delivering on our strategic vision, The Art of You, Saks Global is redefining luxury shopping by offering each customer a personalized experience that is unmistakably their own. By leveraging the most comprehensive luxury customer data platform in North America, cutting-edge technology, and strong partnerships with the world's most esteemed brands, Saks Global is shaping the future of luxury retail. Saks Global Properties & Investments includes Saks Fifth Avenue and Neiman Marcus flagship properties and represents nearly 13 million square feet of prime U.S. real estate holdings and investments in luxury markets. On Jan. 13, 2026, and Jan. 14, 2026, Saks Global Enterprises, LLC and 112 affiliated debtors filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code (Bankr. S.D. Texas Lead Case No. 26-90103). The jointly administered cases are pending before the Honorable Alfredo R. Perez. Willkie Farr & Gallagher LLP and Haynes and Boone, LLP are serving as legal counsel, PJT Partners LP is serving as an investmentbanker, Berkeley Research Group is serving as the financial advisor, and C Street Advisory Group is serving as a strategic communications advisor to the Company. Stretto is the claim agent. Paul, Weiss, Rifkind, Wharton & Garrison LLP is serving as legal counsel, Lazard Freres & Co, LLC is serving as investment banker, FTI Consulting, Inc. is serving as financial advisor, and Kekst and Company, Inc., is serving as a strategic communications advisor toan ad hoc group of debt holders. Hilco Global Professional Services, LLC, is the real property advisor to the Ad Hoc Group. Bank of America, N.A., is the administrative agent and collateral agent under the $1.5 billion asset-based revolving credit facility. U.S. Bank Trust Company, National Association, is the administrative agent and collateral agent under the $2.56 billion SGUS DIP Facility, a term loan facility with new money and roll-up components. U.S. Bank is also the agent under the $1.75 billion OpCo DIP Facility, a term loan facility to be used for refinancing existing debt. Barclays Bank, PLC serves as the fronting lender of the SGUS First Out DIP Loans. It is advised by Dentons US LLP. Otterbourg P.C., Morgan, Lewis & Bockius LLP, and Norton Rose Fulbright US LLP serves as counsel to the ABL DIP Agent; M3 Advisory Partners, LP, is the financial advisor to the ABL DIP Agent; and Great American serves as its inventory valuation consultant. Seward & Kissel LLP serves as counsel to the SGUS DIP Agent. On January 27, 2026, the U.S. Trustee for Region 7 appointed an official committee to represent unsecured creditors in the Debtors' Chapter 11 cases. SDRES PARTNERS: Commences Chapter 11 Bankruptcy in California ------------------------------------------------------------- On June 3, 2026, SDRES Partners LLC filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Central District of California. According to court filings, the Debtor reports between $1 million and $10 million in debt owed to between 1 and 49 creditors. A meeting of creditors under Section 341(a) to be held on July 21, 2026 at 09:00 AM at UST-SA1, TELEPHONIC MEETING. CONFERENCE LINE:1-888-330-1716, PARTICIPANT CODE:8695724. About SDRES Partners LLC SDRES Partners LLC is a real estate investment and development company engaged in the acquisition, ownership, management, and operation of commercial and residential properties. SDRES Partners LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-11744) on June 3, 2026. In its petition, the Debtor reports estimated assets of $10 million to $50 million and estimated liabilities of $1 million to $10 million. The Honorable Bankruptcy Judge Scott C. Clarkson handles the case. The Debtor is represented by Kyra E. Andrassy, Esq., of Raines Feldman Littrell LLP. SELECT ALTERNATIVE: Seeks Chapter 11 Bankruptcy in Maryland ----------------------------------------------------------- On June 4, 2026, Select Alternative Home Choice 3, LLC filed for Chapter 11 protection in the U.S. Bankruptcy Court for the District of Maryland. 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 July 8, 2026 at 12:00 PM via Conference Call - Chapter 11 Baltimore: Phone number 1-888-330-1716, Access Code 6624329#. Government Proofs of Claim must be filed by December 1, 2026. About Select Alternative Home Choice 3, LLC Select Alternative Home Choice 3, LLC is a residential housing and property management company engaged in the ownership, leasing, and operation of housing-related assets. Select Alternative Home Choice 3, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-15960) on June 4, 2026. In its petition, the Debtor reports estimated assets of $100,001 to $1 million and estimated liabilities of $100,001 to $1 million. Honorable Bankruptcy Judge Michelle M. Harner handles the case. SEQUANS COMMUNICATIONS: Redeems All Remaining Convertible Debt -------------------------------------------------------------- Sequans Communications S.A. announced that it the completed the redemption of all remaining convertible debt issued in July 2025 funded through the sale of a portion of the Company's Bitcoin holdings. The Company now holds approximately 658 Bitcoin, all of which are unrestricted. Transaction Overview: * Full Debt Redemption Completed: All remaining convertible debt issued in July 2025 has been fully redeemed. * Capital Structure Simplified: Sequans transitions to a near debt-free balance sheet with increased financial flexibility. * Bitcoin Holdings Unrestricted: Approximately 658 BTC remain on the balance sheet, now fully unencumbered. * Treasury Strategy Concluded: No longer pursuing a digital asset treasury strategy and will monetize remaining holdings over time. * Renewed Strategic Focus: Full emphasis on scaling the IoT semiconductor business, advancing the 5G eRedCap roadmap, and expanding into new high-growth markets. "The completion of the debt redemption marks an important turning point for Sequans. We have strengthened our balance sheet, simplified our capital structure, and are now fully focused on scaling our IoT semiconductor business," said Georges Karam, CEO of Sequans. "Our priority is clear: execute on our growing 4G and RF transceiver product portfolio, accelerate our path to profitability, and advance our 5G roadmap. With improving visibility, a growing pipeline of projects in production, and early leadership in 5G eRedCap, we believe Sequans is well positioned to drive sustainable growth and long-term shareholder value." Sequans' core business is centered on the development and commercialization of cellular IoT semiconductor solutions, including its 4G LTE-M and Cat-1bis chipsets, which support applications such as smart metering, asset tracking, telematics, security, and industrial IoT. The Company is also advancing its 5G eRedCap platform to support the transition to next-generation cellular IoT connectivity. In parallel, Sequans is seeing increasing engagement for its newly launched RF transceiver for software radio applications, including defense and drone systems, where demand for secure, high-performance wireless capabilities continues to grow. About Sequans Communications Colombes, France-based Sequans Communications S.A. is a fabless semiconductor company that designs, develops, and markets integrated circuits and modules for 4G and 5G cellular IoT devices. Ernst & Young Audit, Sequans' independent registered public accounting firm for the fiscal year ended December 31, 2025, has included an "going concern" explanatory paragraph in their opinion that accompanies the audited consolidated financial statements as of and for the year ended December 31, 2025, indicating that the Company has suffered recurring losses from operations, has a working capital deficiency, and has stated that substantial doubt exists about the Company's ability to continue as a going concern. As of December 31, 2025, the Company had $243.6 million in total assets, $11.3 million in total non-current liabilities, $104.6 million total current liabilities, and $127.7 million in total equity. SEWELL GRAVEL: Seeks Chapter 7 Bankruptcy in Massachusetts ---------------------------------------------------------- On June 2, 2026, Sewell Gravel Pit LLC commenced a voluntary Chapter 7 bankruptcy case in the U.S. Bankruptcy Court for the District of Massachusetts. Court records show the Debtor has liabilities ranging from $1 million to $10 million and between 1 and 49 creditors. A meeting of creditors under Section 341(a) to be held on June 30, 2026 at 11:30 AM as a Zoom - Lassman: Zoom.us/join, Meeting ID 708 300 0805, Passcode 3150699769, Phone 1-781-757-1615. The deadline for governmental units to submit proofs of claim is Nov. 30, 2026. About Sewell Gravel Pit LLC Sewell Gravel Pit LLC operates in the construction materials industry, supplying gravel and other aggregate products for infrastructure and development projects. Sewell Gravel Pit LLC filed for Chapter 7 protection under the U.S. Bankruptcy Code (Case No. 26-11310) on June 2, 2026. The petition lists estimated assets between $0 and $100,000 and estimated liabilities between $1 million and $10 million. The case is assigned to the Honorable Christopher J. Panos. The Debtor is represented by Jordan L. Shapiro, Esq., of Shapiro & Hender. Donald Lassman serves as interim trustee. SHANNON WIND: Receives Green Light for Ch.11 Plan,$129MM Asset Sale ------------------------------------------------------------------- Emily Lever of Law360 Bankruptcy Authority reports that Shannon Wind LLC received court approval for a $129.5 million sale of its assets and confirmation of its Chapter 11 liquidation plan after a Texas bankruptcy judge determined the proposals satisfied bankruptcy requirements. The approvals allow the renewable energy company to advance its restructuring efforts through an orderly liquidation. The debtor maintained that the sale process generated the highest value available for stakeholders and offered the most practical means of monetizing its assets. Proceeds from the transaction are expected to support distributions under the confirmed liquidation plan, the report relays. The ruling clears a major hurdle in the bankruptcy proceedings and positions Shannon Wind to complete the sale and wind down operations. Creditors will now look toward implementation of the plan and the eventual allocation of sale proceeds, according to report. About Shannon Wind LLC Shannon Wind LLC develops and owns the Shannon Wind project, a utility-scale wind farm in Clay County, Texas, generating approximately 204 megawatts of electricity from wind turbines. The Company manages construction, commercial operations, and overall project oversight for the renewable energy facility. Shannon Wind, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Texas Case No. 26-90124) on January 25, 2026. In its petition, the Debtor reports estimated assets and liabilities between $100 million and $500 million. Honorable Bankruptcy Judge Alfredo R. Perez handles the case. The Debtor is represented by Jarrod B. Martin, Esq. of Bradley Arant Boult Cummings, LLP. The Debtor's financial advisor is Accordion Partners, LLC, its investment banker is Nomura Securities International, Inc., its valuator is KPMG LLP. The Debtor's notices, claims, solicitation and balloting agent and administrative advisor is Kurtzman Carson Consultants LLC doing business as Verita Global. SHARON VITALE: Unsecureds to Get $5K per Month over 3 Years ----------------------------------------------------------- Sharon Vitale, P.A. filed with the U.S. Bankruptcy Court for the Southern District of Florida a Subchapter V Plan of Reorganization dated May 26, 2026. Sharon Vitale, P.A. is a Florida professional corporation. The Debtor is owned 100% by Sharon Vitale, MSN, NP-C. Ms. Vitale is a nurse practitioner specializing in mobile wound care, meaning she treats wounds, pressure injuries and skin lesions. The Debtor's financial troubles began when she received four separate demands for overpayment by Centers for Medicare & Medicaid Services for legitimate services rendered. The Debtor was forced to undertake appeals through a very specific administrative process. The Debtor won three of the four appeals. The last one, which is the largest one, remains pending. What is fascinating is that the appeal that remains pending is for the same patient in which the Debtor won an appeal. The Debtor is a small business and its gross income on an annual basis does not equal what Medicare maintains is owed. The principal of the Debtor cannot commit to keep the business open under the current requirements of Medicare and is in a position to begin working on an area that does not require accepting Medicare as she cannot work full-time simply to repay Medicare a debt she does not believe is owed and is on appeal. The Plan Proponent's financial projections show that the Debtor will have projected disposable income of $180,000.00 toward the unsecured claims. The final Plan payment is expected to be paid in September 2029. The Debtor intends to implement the Plan by generating sufficient income from the Debtor's business to fund the required payments to creditors. In the event the Debtor does not have sufficient funds to meet the payments, the Debtor shall utilize funds on hand to make the payments. The Debtor will commit disposable income to fund the Plan in the total amount of $180,000.00 to the unsecured claims in accordance with the Projections attached. The Debtor expects to have sufficient cash on hand to make the payments required on the Effective Date. Such net disposable income should be sufficient to provide a distribution to unsecured creditors over the life of the Plan of approximately $180,000.00. This Plan under Chapter 11 of the Bankruptcy Code proposes to pay creditors of the Debtor from cash flow from operation of the Debtor's business and current cash on hand. Class One consists of General Unsecured Creditors. The general unsecured claims prior to the filing of any objections total the amount of $1,643,338.30, which will be paid over the three-year term of the Plan at the rate of $5,000.00 per month on a pro-rata basis. The payments will commence on the Effective Date of the Plan. The dividend to this class of creditors is subject to change upon the determination of objections to claims. To the extent that the Debtor is successful or unsuccessful in any or all of the proposed Objections, then the dividend and distribution to each individual Class of General Unsecured Claims then the dividend and distribution to each individual creditor will be adjusted accordingly. These claims are impaired. The Debtor shall contribute his disposable income to fund the Plan in the total amount of $180,000.00 to the unsecured creditors in accordance with the Projections attached. In the event the Debtor's disposable income is insufficient to meet the plan payments, the Debtor shall fund the plan through his non exempt or exempt assets. Upon Confirmation of the Plan, all property of the Debtor, tangible and intangible, will revert, free and clear of all Claims and Equitable Interests except as provided in the Plan, to the Debtor as they were held prior to the Petition Date. The Debtor expects to have sufficient cash on hand to make the payments required on the Effective Date. A full-text copy of the Subchapter V Plan dated May 26, 2026 is available at https://urlcurt.com/u?l=0jIwH7 from PacerMonitor.com at no charge. Counsel to the Debtor: Dana Kaplan, Esq. Kelley Kaplan & Eller, PLLC 1665 Palm Beach Lakes Blvd., Suite 1000 West Palm Beach, FL 33401 Telephone: (561) 491-1200 Facsimile: (561) 684-3773 Email: bankruptcy@kelleylawoffice.com About Sharon Vitale PA Sharon Vitale PA, doing business as Mobile Wound and Skin Practitioners, is a Florida-based healthcare practice that provides mobile wound and skin care services. The company specializes in the assessment and treatment of chronic and complex wounds, including adult wound management, and delivers services outside traditional clinical settings. Sharon Vitale filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Fla. Case No. 26-12265) on February 24, 2026, listing $30,551 in assets and $1,645,692 in liabilities. The petition was signed by Sharon Vitale as president. The Debtor tapped Craig I. Kelley, Esq., at Kelley Kaplan Delaney & Eller, PLLC as counsel and Tax Life Savers, Inc. as accountant. SHEPARD TOWERS: Initiates Chapter 11 Bankruptcy in New York ----------------------------------------------------------- On June 4, 2026, Shepard Towers LLC filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Eastern District of New York. According to court filings, the Debtor reports between $1 million and $10 million in debt owed to 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 July 6, 2026 at 12:00 PM at USA Toll-Free (888) 330-1716, USA Caller Paid/International Toll (713) 353-7024, Access Code 6982178. About Shepard Towers LLC Shepard Towers LLC is a real estate holding and property management company engaged in the ownership, leasing, and operation of residential and commercial real estate assets. Shepard Towers LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-42752) on June 4, 2026. In its petition, the Debtor reports estimated assets of $100,001 to $1 million and estimated liabilities of $1 million to $10 million. The 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. SHERMAN/GRAYSON: Ex-Hospital Owner Opposes Ch. 7 Conversion Bid --------------------------------------------------------------- Hilary Russ of Law360 Bankruptcy Authority reports that bankrupt hospital owner Sherman/Grayson Hospital LLC has asked a Texas bankruptcy court not to dismiss its Chapter 11 case, asserting that it has addressed the deficiencies that prompted scrutiny from creditors and other parties. The company said it has paid outstanding professional expenses, filed all required operating reports, and taken additional corrective measures to ensure compliance with bankruptcy requirements. The debtor formerly owned and operated hospital assets in Texas and sought Chapter 11 protection amid financial and operational challenges. Court filings indicate that the company has spent recent months resolving administrative matters while continuing efforts to wind down remaining issues in the bankruptcy case. It contends that the progress achieved since the concerns were raised supports keeping the case under Chapter 11 supervision, the report states. Sherman/Grayson argued that dismissal would undermine the work already completed and potentially reduce recoveries available to creditors. The company told the court that maintaining the case will allow it to finalize outstanding matters and pursue an orderly resolution consistent with the goals of the bankruptcy process. About Sherman/Grayson Hospital Sherman/Grayson Hospital, LLC is the operator of Wilson N. Jones Regional Medical Center, a 207-bed acute care hospital in Sherman, Texas. Sherman/Grayson Hospital sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Del. Case No. 23-10810) on June 23, 2023, with $1 million to $10 million in assets and $50 million to $100 million in liabilities. Judge J. Kate Stickles oversees the case. Leonard M. Shulman, Esq., at Shulman Bastian Friedman & Bui, LLP and Rosner Law Group, LLC serve as the Debtor's bankruptcy counsel and Delaware counsel, respectively. The U.S. Trustee for Region 3 appointed an official committee to represent unsecured creditors in the Debtor's Chapter 11 case. The committee tapped Potter Anderson & Corroon, LLP and RK Consultants, LLC as legal counsel and financial advisor. Daniel T. McMurray is the patient care ombudsman appointed in the Debtor's Chapter 11 case. SHUTTERFLY LLC: Moody's Puts 'Caa2' CFR Under Review for Upgrade ---------------------------------------------------------------- Moody's Ratings placed Shutterfly, LLC's (Shutterfly) existing ratings, including its Caa2 Corporate Family Rating and Caa2-PD Probability of Default Rating on review for upgrade following the refinancing announcement on May 29th [1]. Moody's also placed on review for upgrade the existing ratings of the company's subsidiary, Shutterfly Finance, LLC (Shutterfly Finance), including its B2 Backed Senior Secured First Lien notes and the Backed Senior Secured First Lien Bank Credit Facility ratings and the Caa2 Backed Senior Secured Second Lien Bank Credit Facility and the Backed Senior Secured Second Lien notes ratings. The outlook was changed to rating under review from positive at both Shutterfly and Shutterfly Finance. Concurrently, Moody's assigned B2 ratings to the company's proposed Backed Senior Secured First Lien Term Loan and Notes and a Ba3 rating to the Backed Super Senior Secured Revolving Credit Facility, all issued by its parent Photo Holdings, LLC. (Photo Holdings). The outlook of Photo Holdings is stable. The review was prompted by the company's announcement of a debt refinancing intended to extend its 2026-2027 debt maturities and continued progress in improving its operating performance, free cash flow and leverage. Shutterfly is currently in the market with a 5-year $500 million Senior Secured First Lien Term Loan and a 5-year $1,150 million Senior Secured First Lien Notes offering. It plans to use the net proceeds from these offerings, along with the proceeds from a privately placed $225 million second lien term loan (unrated) and $156 million cash on hand to refinance existing secured debt (both first and second lien) maturing in September-October 2026. Shutterfly Finance's existing Senior Unsecured Notes due 2028 (unrated) will be exchanged for new unsecured notes at the Photo Holdings level (where the proposed debt is being issued) and extended to 2032, beyond the maturities of the proposed secured debt and will remain PIK-pay through the new maturity. Photo Holdings' proposed credit facility includes an approximately $278 million 5-year Super senior secured revolver with a maturity date 91 days inside the proposed first lien secured debt. If completed as proposed, the refinancing would be credit positive because it improves liquidity, eliminates near term refinancing risks by extending access to external revolving credit line to 2031 from 2026 and moves funded debt maturities to 2031-2032 from 2027-2028. If the planned refinancing fails, default risk will increase significantly because Shutterfly's 2026-2027 maturities (including revolver) will remain, putting pressure on ratings. RATINGS RATIONALE The current Caa2 (on review for upgrade) CFR is constrained by 2026-2027 debt maturities. The review for upgrade will focus on whether the company completes the refinancing based on the proposed terms and in a timely manner. To the extent the proposed refinancing is completed timely and consistent with the proposed terms, Moody's would expect to assign a B3 CFR and B3-PD PDR at Photo Holdings and withdraw all ratings at Shutterfly and Shutterfly Finance. The expected B3 CFR post-close of the refinancing reflects the company's highly levered capital structure in a business with pronounced cash flow and earnings seasonality, exposure to cyclical consumer discretionary spend, modest though improving operating margins and an intensely competitive marketplace for photo-based consumer products. Shutterfly is heavily dependent on fourth quarter earnings to offset operating losses in the first nine months of the year. Shutterfly's cash flow and operating metrics have improved since its debt exchange two years ago, and Moody's expects further improvement over the next 12-18 months. The rating is supported by Shutterfly's strong brands, leadership position and manufacturing scale as a retailer of personalized photo products and services and a broad range of customized goods. It also reflects Shutterfly's progress in improving its operating performance, free cash flow liquidity with additional improvements expected over the next 12-18 months. The B2 rating on the proposed Senior Secured First Lien Term Loan and Notes reflects the expected post-transaction credit profile of the company consistent with Moody's current expectation for a post-recap B3 CFR, assuming timely close of the proposed transactions on current terms. The rating also reflects the post-recap probability of default of the company, an average expected family recovery rate of 50% given the mix of secured and unsecured as well as first lien, second lien and super debt in the capital structure and the particular instruments' ranking in the capital stack. The Ba3 rating on the Super Senior Secured revolver due 2031 reflects its priority position in Shutterfly's debt capital structure compared to the Senior Secured First Lien Term Loan and Notes, which are rated B2. Marketing terms for the new credit facilities (final terms may differ materially) include the following: Incremental pari passu debt capacity up to the greater of $75 million and 0.17x LTM EBITDA, plus unlimited amounts subject to 2.5x net first lien leverage test. Prior to the termination of the initial revolving commitments, the aggregate amount of super senior secured revolving commitments is capped at $277.5 million. There is no inside maturity sublimit. The credit agreement is expected to include customary "J. Crew", "Chewy", "Serta" and "Envision" provisions. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS The review for upgrade of Shutterfly's existing credit ratings will focus on the company's successful execution of the refinancing. If the refinancing is completed on a timely basis based on the proposed terms, Moody's would expect to assign a B3 CFR and B3-PD PDR at Photo Holdings and withdraw all ratings at Shutterfly and Shutterfly Finance. If the company fails to complete the proposed refinancing, the existing Caa2 CFR, Caa2-PD PDR, its B2 Backed Senior Secured First Lien Notes and the Backed Senior Secured First Lien Bank Credit Facility ratings and the Caa2 Backed Senior Secured Second Lien Bank Credit Facility and the Backed Senior Secured Second Lien notes ratings would face downward pressure given near term debt maturities. The principal methodology used in these ratings was Business and Consumer Services published in February 2026. The outcome from Moody's Business and Consumer Services Methodology is B2 for Shutterfly, three notches higher than the Caa2 CFR. The difference is attributable to refinancing risks related to 2026/2027 debt maturities, the company's sustained high leverage, seasonality and execution risk of transforming the Lifetouch business. Headquartered in San Jose, CA, Shutterfly, LLC is a leading online manufacturer and retailer of personalized consumer photo products through brands such as Shutterfly, Snapfish, Tiny Prints Boutique, Spoonflower and photo services through its Lifetouch division and Shutterfly Business Solutions. GAAP revenue totaled approximately $2.13 billion in 2025. Shutterfly is majority-owned by investment funds managed by Apollo Global Management, Inc. SIGNITIVES TECHNOLOGIES: Frances Smith Named Subchapter V Trustee ----------------------------------------------------------------- The U.S. Trustee for Region 6 appointed Frances Smith, Esq., at Ross, Smith & Binford, PC, as Subchapter V trustee for Signitives Technologies LLC. Ms. Smith will be paid an hourly fee of $475 for her services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Ms. Smith declared that she is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Frances A. Smith, Esq. Ross, Smith & Binford, PC 700 N. Pearl Street, Ste. 1610 Dallas, TX 75201 Phone: 214-593-4976 Fax: 214-377-9409 Email: frances.smith@rsbfirm.com About Signitives Technologies LLC Signitives Technologies, LLC operates as a Texas-based technology and digital services company focused on software and business technology solutions. Signitives Technologies, LLC sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-42224) on May 21, 2026. The filing lists estimated assets ranging from $100,001 to $1 million and estimated liabilities ranging from $100,001 to $1 million. Honorable Bankruptcy Judge Edward L. Morris presides over the bankruptcy proceedings. The Debtor is represented by Joseph F. Postnikoff, Esq. of Rochelle McCullough, LLP. Frances A. Smith serves as Subchapter V Trustee. SIMAD HOLDINGS: Seeks Chapter 11 Bankruptcy with Over $500MM Debt ----------------------------------------------------------------- Rick Archer of Law360 Bankruptcy Authority reports that SIMAD Holdings, a summer camp and youth programs operator, has sought Chapter 11 protection in New Jersey, reporting more than $500 million in liabilities. The bankruptcy filing is intended to facilitate a comprehensive financial restructuring while allowing the company to continue serving campers and families during the process. According to court documents, SIMAD plans to use Chapter 11 to address its debt burden and work with creditors on a reorganization that preserves enterprise value and supports ongoing operations. By entering bankruptcy protection, SIMAD gains access to tools that can help restructure obligations and improve liquidity. The company said it expects the process to provide a pathway toward a healthier capital structure and long-term sustainability despite the challenges posed by its substantial debt obligations, the report states. About SIMAD Holdings LLC SIMAD Holdings LLC company operates a portfolio of camp and recreational facilities that provide seasonal educational and outdoor experiences for children and young adults. SIMAD Holdings sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.N.J. Case No. 26-16515) on June 4, 2026. In its petition, the Debtor reports estimated assets between $100 million and $500 million and estimated liabilities between $500 million and $1 billion. Honorable Bankruptcy Judge Christine M. Gravelle handles the case. The Debtor is represented by Michael D. Sirota, Esq. of Cole Schotz P.C. SINTX TECHNOLOGIES: Receives Nasdaq Non-Compliance Notice on Equity ------------------------------------------------------------------- SINTX Technologies, Inc. announced in a regulatory filing that it received a letter from the Listing Qualifications Department of The Nasdaq Stock Market LLC notifying the Company that it is not in compliance with Nasdaq Listing Rule 5550(b)(1), which requires companies listed on The Nasdaq Capital Market to maintain a minimum of $2.5 million in stockholders' equity for continued listing. As reported in the Company's Quarterly Report on Form 10-Q for the quarter ended March 31, 2026, the Company reported stockholders' equity of approximately $904,000 and, as stated in the Notice, the Company also does not satisfy the alternative continued listing standards based on a market value of listed securities of at least $35,000,000, or net income from continuing operations of $500,000 in the most recently completed fiscal year or in two of the last three most recently completed fiscal years. In accordance with Nasdaq Listing Rules, the Company has 45 calendar days, or until July 6, 2026, to submit a plan to regain compliance. If Nasdaq accepts the Company's plan, Nasdaq may grant the Company an extension of up to 180 calendar days from the date of the Notice (May 22, 2026) to evidence compliance. The Company intends to timely submit a compliance plan to Nasdaq. The Company has been actively pursuing financing and other strategic initiatives intended to strengthen its balance sheet and improve stockholders' equity. The Company is currently engaged in discussions regarding a potential equity financing transaction; however, there can be no assurance that any such transaction will be consummated or that the Company will be able to regain compliance with the applicable Nasdaq continued listing requirements. The Notice has no immediate effect on the listing or trading of the Company's common stock on The Nasdaq Capital Market. About SINTX SINTX Technologies, Inc. is a Salt Lake City advanced ceramics company formed in December 1996. The company develops, manufactures and commercializes silicon nitride biomaterials, composites, devices and related technologies for medical and other high-value applications, including biomedical products for musculoskeletal and antipathogenic uses and silicon nitride parts for electrical, aerospace and industrial customers. In an audit report dated March 20, 2026, Tanner LLP included a going concern qualification, stating that SINTX had recurring losses from operations, negative operating cash flows and a need to obtain additional financing to finance operations. Those issues raised substantial doubt about the company's ability to continue as a going concern. As of March 31, 2026, SINTX had cash and cash equivalents of $1.89 million, total assets of $7.81 million, total liabilities of $6.91 million and total stockholders' equity of $904,000. SLEEP NUMBER: Prepares for Chapter 11 Bankruptcy Filing to Cut Debt ------------------------------------------------------------------- Alexander Gladstone and Jodi Xu Klein of The WallStreet Journal reports that Sleep Number is preparing for a potential Chapter 11 bankruptcy filing aimed at restructuring its debt and stabilizing operations, according to people familiar with the situation. The Minnesota-based mattress manufacturer has reportedly been evaluating options to address financial pressures stemming from a combination of leverage and weakening business performance. The company is expected to pursue a reorganization that keeps the business operating while reducing its debt obligations. Under Chapter 11, Sleep Number would be able to continue serving customers, operating stores, and manufacturing products as it negotiates with lenders and other stakeholders. The process is intended to provide breathing room while management develops a sustainable financial plan, the report relays. Sources said a sale of the company remains a possibility and could be incorporated into the restructuring strategy. A court-supervised process would allow potential buyers to conduct due diligence and submit bids while ensuring transparency for creditors. Whether through a standalone reorganization or a sale transaction, the objective is reportedly to preserve enterprise value. Sleep Number has long been a prominent player in the premium mattress market, offering technology-driven sleep products through a nationwide retail network. However, declining performance and a substantial debt burden have reportedly pushed the company toward bankruptcy as a means of addressing its financial difficulties and securing a path toward recovery, according to The WallStreet Journal. About Sleep Number Corp. Sleep Number Corp., based in Minneapolis, Minnesota, is a leader in personalized sleep wellness. Its mattresses are designed to evolve with each sleeper to help them feel and perform their best. With adjustable firmness, pressure-relieving support, and temperature-balancing comfort built into every mattress, Sleep Number beds adapt to customers' changing needs, night after night, year after year. As of December 31, 2025, the Company had $680.06 million in total assets, $1.26 billion in total liabilities, and $578.48 million in total shareholders' deficit. SMITH MICRO: William Smith, Jr. Reports 37.3% Beneficial Ownership ------------------------------------------------------------------ William W. Smith, Jr., disclosed in a Schedule 13D (Amendment No. 3) filed with the U.S. Securities and Exchange Commission that as of May 26, 2026, he beneficially owns 11,695,827 shares of Common Stock -- consisting of 293,520 shares over which Mr. Smith has sole voting and dispositive power, and 11,402,307 shares held in the name of the Smith Living Trust (for which Mr. Smith and his spouse are co-trustees) over which he has shared voting and dispositive power, including 5,884,633 shares of common stock not outstanding which the Smith Living Trust has the right to acquire within sixty (60) days upon the exercise of warrants (comprising a warrant dated November 7, 2025 exercisable for 2,236,136 shares, and warrants dated September 11 and September 17, 2025 now exercisable for 1,073,390 shares following shareholder approval on May 26, 2026) -- of Smith Micro Software, Inc.'s Common Stock, par value $0.001 per share, representing 37.3% based on 25,433,247 shares of common stock outstanding as of May 26, 2026, as reflected in the records of the Issuer's transfer agent, and 5,884,633 shares of common stock not outstanding which the Smith Living Trust has the right to acquire within sixty (60) days upon the exercise of warrants, in accordance with Rule 13d-3(d)(1)(i). William W. Smith, Jr. may be reached through: William W. Smith, Jr. Smith Micro Software, Inc. 120 Vantis Drive, Suite 350 Aliso Viejo, CA 92656 Tel: (949) 362-5800 A full-text copy of William W. Smith, Jr.'s SEC report is available at: https://tinyurl.com/3n87wsaf 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. SMOKIN OAKS: Seeks to Hire Dunham Hildebrand Payne as Counsel ------------------------------------------------------------- Smokin Oaks Organic Farms, LLC seeks approval from the U.S. Bankruptcy Court for the Middle District of Tennessee to hire Dunham Hildebrand Payne Waldron, PLLC as counsel. The firm will render these services: (a) render legal advice with respect to the rights, power, and duties of the Debtor in the management of its assets and operations; (b) investigate and, if necessary, institute legal action on behalf of the Debtor to collect and recover assets of its estate; (c) prepare all necessary pleadings, orders and reports with respect to this proceeding and to render all other necessary or proper legal services; (d) assist and counsel the Debtor in the preparation, presentation, and confirmation of a plan of reorganization; (e) represent the Debtor as may be necessary to protect its interests; and (f) perform all other legal services that may be necessary and appropriate in the general administration of Debtor's estate. The firm will be paid at these hourly rates: Attorneys $500 - $550 Paralegals $200 - $225 The firm received a retainer of $26,738 prior to filing. Henry Hildebrand, IV, Esq., an attorney at Dunham Hildebrand Payne Waldron, 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: Henry E. Hildebrand, IV, Esq. Dunham Hildebrand Payne Waldron, PLLC 9020 Overlook Boulevard, Suite 316 Brentwood, TN 37027 Telephone: (615) 933-5851 Email: ned@dhnashville.com About Smokin Oaks Organic Farms, LLC Smokin Oaks Organic Farms, LLC operates a regenerative organic farm, butcher shop and market based in Nashville, Tennessee. Founded by Justin Head, who transitioned the family farm to organic farming in 2015, the company raises pasture-based livestock, grows organic grain for feed, and sells beef, pork, chicken, produce, grocery items and prepared food through its Nashville market and local food channels. Smokin Oaks Organic Farms, LLC filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. M.D. Tenn. Case No. 26-02488) on May 26, 2026, listing $100,001 to $500,000 in assets and $1,000,001 to $10 million in liabilities. The petition was signed by Justin Head as managing member. Judge Nancy B King presides over the case. Henry E. ("Ned") Hildebrand, IV, Esq. at Dunham Hildebrand Payne Waldron, PLLC serves as the Debtor's counsel. SN TRANSPORT: Seeks Chapter 7 Bankruptcy in Puerto Rico ------------------------------------------------------- On June 2, 2026, SN Transport Inc. filed for Chapter 7 protection in the U.S. Bankruptcy Court for the District of Puerto Rico. According to court filings, the Debtor reports between $1 million and $10 million in debt owed to between 1 and 49 creditors. Statement of Financial Affairs and Summary of Assets and Liabilities are both due by June 16, 2026. About SN Transport Inc. SN Transport Inc. is a transportation company engaged in freight and logistics services. SN Transport Inc. sought relief under Chapter 7 of the U.S. Bankruptcy Code (Bankr. Case No. 26-02530) on June 2, 2026. In its petition, the Debtor reports estimated assets of $1 million to $10 million and estimated liabilities of $1 million to $10 million. The Honorable Bankruptcy Judge Enrique S. Lamoutte Inclán handles the case. The Debtor is represented by Joseph F. Gierbolini, Esq. SPIRIT AIRLINES: Unions Object to Proposed Exec Bonuses in Ch. 11 ----------------------------------------------------------------- Hailey Konnath of Law360 Bankruptcy Authority reports that unions representing former Spirit Airlines workers have asked a bankruptcy judge to deny the company's request for executive retention bonuses, asserting that the payments are inappropriate given the losses suffered by employees. The groups said management should not be rewarded while former staff members continue to face the consequences of the airline's failure. In court papers, the unions argued that executives are seeking lucrative incentives despite the carrier's bankruptcy and ongoing wind-down. They maintained that workers lost jobs and income as Spirit's financial condition deteriorated and that any available funds should be directed toward creditor and employee-related obligations rather than management compensation. Spirit has defended the proposal as a necessary tool for retaining experienced executives needed to oversee the liquidation and ensure an orderly conclusion to the bankruptcy case. The matter is expected to become a key point of contention as the court evaluates whether the incentive program serves a legitimate business purpose, the report states. About Spirit Aviation Holdings Inc. Spirit Aviation Holdings, Inc. and its subsidiaries operate Spirit Airlines, a U.S.-based low-cost carrier providing air transportation services across the United States, Latin America, and the Caribbean. They employ approximately 25,000 direct employees and independent contractors. Spirit Aviation Holdings and its subsidiaries sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. N.Y. Lead Case No. 25-11897) on August 29, 2025. In the petition signed by Frederick Cromer, authorized signatory, Spirit Aviation Holdings disclosed $8,576,287,000 in assets and $8,096,842,000 in liabilities as of June 30, 2025. Judge Sean H. Lane oversees the cases. The Debtors tapped Davis Polk & Wardwell, LLP as bankruptcy counsel; PJT Partners LP as investment banker; FTI Consulting, Inc. as restructuring, fleet and communications advisor; Debevoise & Plimpton, LLP as fleet counsel; Morris, Nichols, Arsht & Tunnell, LLP as conflicts counsel, and Ernst & Young, LLP as its audit and tax services provider. Epiq Corporate Restructuring, LLC is the claims, noticing, solicitation and administrative agent. The U.S. Trustee for Region 2 appointed an official committee to represent unsecured creditors in the Debtors' Chapter 11 cases. The committee tapped Willkie Farr & Gallagher, LLP as legal counsel; Alton Aviation Consultancy, LLC as specialized aviation advisor; Jefferies. LLC as investment banker; and AlixPartners, LLP as financial advisor. SPIRIT AVIATION: Port Authority Objects Bid to Sell LaGuardia Slots ------------------------------------------------------------------- James Nani of Bloomberg Law reports that the Port Authority of New York and New Jersey has objected to Spirit Aviation Holdings Inc.'s attempt to sell operating slots at LaGuardia Airport, telling a bankruptcy court that the airline has no legal standing to auction them. The agency said the slots remain tightly controlled by federal aviation rules. In a filing submitted Wednesday, June 3, 2026, in the Southern District of New York bankruptcy court, the Port Authority rejected Spirit's view that the slots function like transferable assets. It argued the airline's assumption that the slots can be freely sold is "incorrect," emphasizing that regulatory approval is required for any transfer. According to the Port Authority, both the FAA and airport authorities maintain authority over slot usage, meaning any sale must comply with strict allocation rules. The agency also stressed there is no underlying contract that permits the kind of transfer Spirit is proposing. Spirit has moved to liquidate assets including its LaGuardia slots as part of its broader bankruptcy strategy, requesting an expedited auction timeline. The dispute highlights ongoing uncertainty over how valuable airport access rights can be monetized in bankruptcy, the report states. About Spirit Aviation Holdings Inc. Spirit Aviation Holdings, Inc. and its subsidiaries operate Spirit Airlines is a U.S.-based low-cost carrier providing air transportation services across the United States, Latin America, and the Caribbean. They employ approximately 25,000 direct employees and independent contractors. Spirit Aviation Holdings and its subsidiaries sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. N.Y. Lead Case No. 25-11897) on August 29, 2025. In the petition signed by Frederick Cromer, authorized signatory, Spirit Aviation Holdings disclosed $8,576,287,000 in assets and $8,096,842,000 in liabilities as of June 30, 2025. Judge Sean H. Lane oversees the cases. The Debtors tapped Davis Polk & Wardwell, LLP, as bankruptcy counsel; PJT Partners LP as investment banker; FTI Consulting, Inc. as restructuring, fleet and communications advisor; Debevoise & Plimpton, LLP as fleet counsel; Morris, Nichols, Arsht & Tunnell, LLP as conflicts counsel, and Ernst & Young, LLP as its audit and tax services provider. Epiq Corporate Restructuring, LLC is the claims, noticing, solicitation and administrative agent. The U.S. Trustee for Region 2 appointed an official committee to represent unsecured creditors in the Debtors' Chapter 11 cases. The committee tapped Willkie Farr & Gallagher, LLP as legal counsel; Alton Aviation Consultancy, LLC as specialized aviation advisor; Jefferies. LLC as investment banker; and AlixPartners, LLP as financial advisor. Judge Lane approved the appointment of Marc Heimowitz of Coda Advisory Group, LLC as examiner. The Examiner hired Glenn Agre Bergman & Fuentes LLP as counsel; and M3 Advisory Partners, LP as financial advisor. The Air Line Pilots Association and the International Association of Machinists and Aerospace Workers are represented by Cohen, Weiss and Simon LLP. * * * In a statement May 2, 2026, CEO Dave Davis said the airline needed hundreds of millions of dollars in additional liquidity to continue operating. He said that funding was not available and could not be secured from external sources. Having reached the limits of its financing options, the company was left with no alternative but to wind down its business. STAR HOLDING: Moody's Affirms 'Ba2' CFR & Alters Outlook to Stable ------------------------------------------------------------------ Moody's Ratings affirmed Star Holding LLC's (Star Holding) B2 Corporate Family Rating, B2-PD Probability of Default Rating, backed senior secured bank credit facility ratings and backed senior secured notes rating at B2. The rating outlook was revised to stable from negative. RATINGS RATIONALE The change of Star Holding's outlook to stable reflects the expected improvement in the company's credit metrics driven by EBITDA growth from improving proppant prices in 2026 and continued growth in its industrial business segment. Star Holding's B2 CFR reflects the company's margins volatility driven by its significant exposure to the oil and gas industry, highly competitive nature of its business given industry fragmentation and, company's relatively elevated leverage. Proppant prices are highly sensitive to changes in the oil and gas drilling activity; while high absolute debt levels amplify the impact of earnings volatility on the company's credit profile. The ratings are supported by the company's strategically located footprint and revenue diversification through its Industrial and Specialty Products segment. The company's leverage (Debt / EBITDA) is expected to decrease to around 4.5x over the next 12 months, from 5.2x at December 2025, driven by moderate increases in proppant prices. The company's supply contracts with oil and gas producers include price escalators tied to WTI oil prices, fuel prices and other indexes based on activity and input cost. Star Holding's $350 million senior secured notes, $775 million senior secured term loan and $175 million senior secured revolving credit facility rank pari passu and are rated at the same level of the CFR since they represent all of the company's debt. The rated instruments are secured by the first priority security interests in substantially all material assets of the company, its Parent (Star Parent Holding I LLC) and its subsidiary guarantors (US Silica Holdings, Inc. and others). Moody's considers Star Holding's liquidity good and supported by its $175 million revolving credit facility (RCF), fully available, and cash balance of around $44 million at March 2026. The RCF has a springing leverage covenant based on facility utilization, requiring net first lien leverage to remain below 5.5x or below 9.2x in the event that the O&G segment is sold. Moody's expects the company to remain in compliance with covenants through 2027. The company has historically maintained minimum utilization of its revolving credit facility, Moody's don't expect changes to this policy. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS The ratings could be downgraded if debt/EBITDA rises above 5x on a sustained basis, including as a result of the reduction in scale; or if its liquidity position deteriorates or free cash flow becomes negative. An upgrade of B2 CFR could be considered if Star Holding sustains leverage (debt/EBITDA) below 3x, maintains positive free cash flow even on the down cycle, reduces exposure to volatile industries. Based in Katy, Texas, Star Holding LLC and its subsidiaries operate silica, diatomaceous earth and specialty clay mining and processing facilities. It is one of the largest producers of commercial silica and engineered materials derived from minerals in North America. The company has two operating segments Oil and Gas Proppants "O&G" and Industrial & Specialty Products "ISP", which accounted for about 37% and 63% of company's gross margin in 2025, respectively. The principal methodology used in these ratings was Building Materials published in September 2025. The net effect of any adjustments applied to rating factor scores or scorecard outputs under the primary methodology(ies), if any, was not material to the ratings addressed in this announcement. STAR MAGNOLIA: Seeks Chapter 7 Bankruptcy in New York ----------------------------------------------------- On June 4, 2026, Star Magnolia, LLC filed for Chapter 7 protection in the U.S. Bankruptcy Court for the Northern 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 July 10, 2026 at 09:30 AM at Zoom.us/join - OConnor: Meeting 669 496 6832, Passcode 5221081566, Phone 1 (680) 206-7541. About Star Magnolia, LLC Star Magnolia, LLC is a limited liability company engaged in business and investment activities, including the ownership and management of assets and commercial interests. Star Magnolia, LLC sought relief under Chapter 7 of the U.S. Bankruptcy Code (Bankr. Case No. 26-10623) on June 4, 2026. In its petition, the Debtor reports estimated assets of $100,001 to $1 million and estimated liabilities of $100,001 to $1 million. Honorable Bankruptcy Judge Patrick G. Radel handles the case. TACTICAL GEAR: Seeks to Hire KC Cohen Lawyer as Bankruptcy Counsel ------------------------------------------------------------------ Tactical Gear Heads, LLC seeks approval from the U.S. Bankruptcy Court for the Southern District of Illinois to hire KC Cohen, Lawyer, PC as bankruptcy counsel. The firm will render these services: (a) advise the Debtor with respect to its duties, powers, and responsibilities in this case; (b) investigate and pursue any actions on behalf of the estate in order to recover assets for or best enable this estate to reorganize fairly; (c) represent the Debtor in these proceedings in an effort to maximize the value of the assets available herein, and to pursue confirmation of a successful Plan of Reorganization; and (d) perform such other legal services as may be required and in the interest of the estate. The firm will be paid at these rates: Christopher J. McElwee $325 per hour Nicholas J Wildeman $275 per hour Bobby H Macias (paralegal) $125 per hour The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. KC Cohen, Esq., 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: KC Cohen, Esq. KC Cohen, Lawyer, PC 1915 Broad Ripple Ave. Indianapolis, IN 46220 Telephone: (317) 715-1845 Facsimile: (317) 636-8686 Email: kc@smallbusiness11.com About Tactical Gear Heads, LLC Tactical Gear Heads, LLC sought protection for relief under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Ill. Case No. 26-02955) on May 7, 2026, listing $100,001 to $500,000 on both assets and liabilities. Judge James M Carr presides over the case. KC Cohen, Esq. at KC Cohen, Lawyer, PC serves as the Debtor's counsel. TECHLOTT INC: Says LOTT Ticker Took Effect June 3 ------------------------------------------------- Techlott Inc., formerly AppYea Inc., said its new LOTT ticker took effect at the market open June 3 after the company's May 29 name change, according to a Form 8-K filing with the Securities and Exchange Commission. The company said the name change became effective May 29 through an amendment to its amended and restated articles of incorporation. FINRA processed and announced the name and symbol changes June 2. The company stated the changes will not affect shareholder rights and will not change its authorized capital, issued and outstanding shares, par value or CUSIP number. In a June 3 press release furnished with the filing, Techlott said the new corporate identity follows its acquisition of the TechLott technology platform and reflects a focus on infrastructure for regulated lottery, draw-based gaming and outcome verification markets. About Techlott Inc. Techlott Inc., formerly AppYea Inc., is a Nevada company that historically operated through SleepX Ltd. in digital health, developing wearable monitoring solutions for sleep apnea and snoring. Its technology portfolio includes artificial intelligence and sensing technologies used to track, analyze and diagnose vital signs and other physical parameters during sleep. The company has undertaken a strategic pivot through a transaction with Techlott Enterprises Ltd. to acquire a proprietary blockchain-based lottery and gaming platform and related intellectual property. Techlott is developing infrastructure for lottery, keno, virtual racing and multiplayer games, with features including verifiable randomness, audit trails and SDK/API integration. Barzily & Co. CPAs, in an audit report dated April 16, 2026, said recurring losses from operations and a working capital deficiency, among other matters, raise substantial doubt about the company's ability to continue as a going concern. The company reported total assets of $21.54 million, total liabilities of $9.73 million and total stockholders' equity of $11.82 million as of March 31, 2026. TELEFLEX INC: Moody's Rates New Senior Unsecured Notes 'Ba2' ------------------------------------------------------------ Moody's Ratings assigned a Ba2 rating to Teleflex Incorporated (d/b/a "Teleflex") proposed senior unsecured notes. There are no changes to Teleflex's existing ratings including the Ba1 Corporate Family Rating, Ba1-PD Probability of Default Rating, Ba2 Senior Unsecured Rating, and SGL-1 Speculative Grade Liquidity Rating. The outlook remains stable. Proceeds from the proposed senior unsecured notes will be used to refinance Teleflex's existing senior notes due in 2027. Additionally, the company refinanced its existing secured debt, which is unrated, as part of this transaction. Therefore, the proposed transaction will be leverage neutral. RATINGS RATIONALE Teleflex's Ba1 Corporate Family Rating benefits from the company's scale, leading market positions in key products, and good revenue diversity by products and customers. While Teleflex will become a smaller company after completing the planned sales of its Acute Care, Interventional Urology, and OEM businesses, the remaining portfolio will focus on higher-growth vascular and emergency medicine, interventional, and surgical products, supporting continued revenue diversity and competitive positioning. Further, Moody's expects the company to continue to generate robust free cash flow, maintain strong interest coverage, and operate with moderate financial leverage. Teleflex's rating is constrained by industrywide pricing pressures as well as payors' increased focus on value-based healthcare. The risk of technology obsolescence and competition from much larger medical products companies are also constraining factors. Teleflex will continue to remain acquisitive and will use debt to fund acquisitions. Teleflex's SGL-1 Speculative Grade Liquidity Rating reflects very good liquidity over the next 12–18 months. As of March 31, 2026, and pro forma for the proposed transaction, the company had approximately $332 million in cash. Upon transaction close, the company will have approximately $550 million drawn on its $1 billion revolver due in 2031, though Moody's expects the balance to be paid down significantly in the next 12-18 months. Teleflex will use a significant portion of the asset sale proceeds to repay debt, which Moody's expects will include a substantial reduction of the term loan balance. Moody's also expects the company to continue generating strong internal cash flow. The stable outlook reflects Moody's expectations that the planned asset sales will close and leverage will decline with subsequent debt paydown, while Teleflex maintains strong earnings growth. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATING Teleflex's ratings could be upgraded if the company delivers sustained earnings growth and maintains strong operating performance as a stand-alone business following the planned asset sales. In addition, a material increase in scale and product sophistication could support a ratings upgrade. The ratings could also be upgraded if the company sustains debt/EBITDA below 2x and demonstrates a commitment to conservative financial policies post-sale. The ratings could be downgraded if the company experiences performance setback with the asset sales, or if Teleflex does not use the sale proceeds (after planned share repurchases) to materially reduce debt. Quantitatively, debt/EBITDA sustained above 3x could also lead to a downgrade. Teleflex Incorporated, headquartered in Wayne, Pennsylvania, is a provider of medical technologies in the fields of vascular and interventional access, surgical, anesthesia, cardiac care, interventional urology, emergency medicine and respiratory care. The company is a manufacturer of medical devices including single-use disposable devices and, to a lesser extent, reusable devices, instruments and capital equipment. It has production facilities located in the United States, Czech Republic, Switzerland and Mexico. The company is publicly traded, and its revenues from continuing operations for the last twelve months ending March 31, 2026 were approximately $2.1 billion. The principal methodology used in this rating was Medical Products and Devices published in October 2025. TEXAS AUTO: Seeks to Hire Paul McClintock as Financial Consultant ----------------------------------------------------------------- Texas Auto Save, LLC and Synergy Capital Auto Lending, LLC seek approval from the U.S. Bankruptcy Court for the Southern District of Texas to hire Paul McClintock as financial consultant. The firm will render these services: a. assist the Debtor and its counsel with general matters related to a restructuring and contemplated chapter 11 proceeding, including but not limited to case strategy development, data gathering, financial analysis, and first day motion preparation, as needed; b. assist the Debtor with bankruptcy required reporting, including Monthly Operating Reports (MOR); c. assist the Debtor and its counsel to obtain court approval for debtors-in-possession financing, if needed; d. assist the Debtor to develop and maintain thirteen-week cash forecasts and any budget-to-actual reporting or other reporting as may be required by potential debtors-in-possession financing; e. support the development of the Plan of Reorganization development, including financial projections, liquidation analysis, claims analysis and reconciliation, and other analysis, as needed; and f. other services as may be agreed upon between McClintock and Debtor. Mr. McClintock has agreed to provide the accounting services at a rate of $200 per hour. Mr. McClintock assured the court that he is a disinterested person under 11 U.S.C. Sec. 101(14). The firm can be reached through: Paul McClintock 18115 Apache Springs Dr. San Antonio, TX 78259 Tel: (210) 386-9564 Email: paul55@dpr-group.com About Texas Auto Save LLC Texas Auto Save LLC is a used car dealership based in San Antonio, Texas. The company sells pre-owned vehicles and provides buy-here-pay-here and in-house financing, along with extended warranty options. It also offers online inventory access, quote requests, test drive scheduling, and financing pre-approval applications, serving customers in San Antonio and nearby Texas communities. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Tex. Case No. 26-51089) on April 25, 2026. In the petition signed by Alex Sinno, managing member, the Debtor disclosed $2,122,888 in total assets and $13,800,382 in total liabilities. Judge Aubrey L Thomas oversees the case. Ronald Smeberg, Esq., at THE SMEBERG LAW FIRM, represents the Debtor as legal counsel. TEXAS AUTO: Seeks to Hire Smeberg Law Firm PLLC as Attorney ----------------------------------------------------------- Texas Auto Save, LLC and Synergy Capital Auto Lending, LLC seeks approval from the U.S. Bankruptcy Court for the Southern District of Texas to hire The Smeberg Law Firm, PLLC as attorneys. The firm will give the Debtor legal advice with respect to the Case, the Debtor's powers and duties as Debtor-in-Possession and management of the Debtor's property, and to perform all legal services for the Debtor-in-Possession that may be necessary. The firm's current hourly billing rates are: Ronald J. Smeberg $475 per hour Attorneys $475 per hour Associate Attorneys $300 per hour Legal Assistants/Paralegals $200 per hour Non partner attorneys $375 per hour Accounting Professionals $250 per hour Smeberg Law Firm is a "disinterested person" as that term is defined by 11 U.S.C. Sec. 101(14), according to court filings. The firm can be reached through: Ronald J. Smeberg, Esq. The Smeberg Law Firm, PLLC 4 Imperial Oaks San Antonio, TX 78248 Tel: (210) 695-6684 Fax: (210) 598-7357 Email: ron@smeberg.com About Texas Auto Save LLC Texas Auto Save LLC is a used car dealership based in San Antonio, Texas. The company sells pre-owned vehicles and provides buy-here-pay-here and in-house financing, along with extended warranty options. It also offers online inventory access, quote requests, test drive scheduling, and financing pre-approval applications, serving customers in San Antonio and nearby Texas communities. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Tex. Case No. 26-51089) on April 25, 2026. In the petition signed by Alex Sinno, managing member, the Debtor disclosed $2,122,888 in total assets and $13,800,382 in total liabilities. Judge Aubrey L Thomas oversees the case. Ronald Smeberg, Esq., at THE SMEBERG LAW FIRM, represents the Debtor as legal counsel. TIDEWATER INC: Moody's Ups CFR to 'B1', Outlook Remains Stable -------------------------------------------------------------- Moody's Ratings upgraded Tidewater Inc.'s (Tidewater) Corporate Family Rating to B1 from B2, Probability of Default Rating to B1-PD from B2-PD and senior unsecured notes to B2 from B3. The SGL-1 Speculative Grade Liquidity rating remains unchanged and the rating outlook remains stable. "The upgrade reflects Tidewater's track record and continued commitment to operate within its stated financial policies, including maintaining low leverage, strong liquidity and managing shareholder distributions and potential acquisitions prudently," stated Thomas Le Guay, Moody's Ratings Vice President. "Tidewater is set to benefit from increased demand for offshore marine services in the current market environment, that will put upward pressure on utilization, dayrates and earnings for the company." RATINGS RATIONALE Tidewater's B1 CFR is supported by the company's strong market position in the offshore support services industry and large owned fleet with meaningful collateral value. It also reflects the company's successful track record and continued commitment to operate with conservative financial policies, including maintaining low leverage and strong liquidity. Moody's expects that the increasing offshore drilling activity towards the end of 2026 and into 2027 will support improving contract and utilization rates for Tidewater's offshore marine services. This will lead to a gradual expansion of the company's operating margins and positive free cash flow through 2027. The agreed upon acquisition of Wilson Sons Ultratug Participações S.A. and its affiliate Atlantic Offshore Services S.A. (collectively, "WSUT"), which is expected to close by the end of June 2026, will significantly improve Tidewater's scale in the key Brazilian offshore market and improve its competitive positioning. The inherently cyclical nature of the oilfield services industry and the high level of volatility in oil and gas prices constrain Tidewater's CFR because of the significant re-contracting risks they entail. Tidewater has limited cash flow visibility beyond 12 months and oil and gas prices need to stay supportive to attract continued offshore upstream investment and demand for offshore marine services. Moody's expects Tidewater to continue demonstrating its ability to operate within its stated financial policies and manage shareholder distributions and potential acquisitions prudently. The stable outlook reflects Moody's expectations of a gradual improvement in contract and utilization rates for offshore marines services. Tidewater has very good liquidity, reflected in its SGL-1 rating. Liquidity is supported by cash and cash equivalents of $552 million as of March 31, 2026, and a fully available $250 million revolving credit facility maturing in 2030 (unrated). Tidewater has no newbuild commitments and no capital investment requirements beyond the general maintenance of its fleet and Moody's expects it to generate over $200 million of free cash flow in 2026. It will also use approximately $500 million of cash on hand for the acquisition of WSUT and will assume around $260 million of WSUT's existing debt at the closing of the acquisition which is currently expected in June 2026. The company requires a relatively higher level of working cash than domestic operators because of its international operations. Maintenance financial covenants at the revolving credit facility level require net leverage below 3.0x, minimum liquidity greater than 10% of net debt, or $20 million at a minimum, and a minimum asset collateral of 250%. Moody's expects Tidewater to remain well in compliance with these covenants through 2027. Tidewater's senior unsecured notes are rated B2, one notch below the B1 CFR, given the significant size of the $250 million revolving credit facility maturing in 2030, which is secured by a first-lien claim on Tidewater's assets. The notes are fully and unconditionally guaranteed on a senior unsecured basis by substantially all of Tidewater's subsidiaries. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS The ratings could be upgraded if Tidewater strengthens its business profile through increased scale, diversification or competitive positioning, while managing potential acquisitions prudently and continuing to follow its stated financial policies. Consistent free cash flow generation and Moody's-adjusted Debt/EBITDA solidly below 1.5x would be supportive of an upgrade. The ratings could be downgraded in case of a material decline in earnings and backlog; if Debt/EBITDA rises above 2.5x in a challenging industry environment; or if liquidity deteriorates significantly. Tidewater Inc. (NYSE: TDW) is a listed company providing supply and support services to the offshore oil and gas and construction industries. The company owns and operates 206 marine offshore support vessels (OSVs) as of March 31, 2026, including 138 platform supply vessels (PSV) and 52 anchor handling towing supply vessels (AHTS) that have a combined average age of around 13 years. It has significant operating presence in nearly all major deepwater offshore service markets worldwide. The company reported $1.3 billion of revenue in the twelve months to March 31, 2026. The principal methodology used in these ratings was Oilfield Services published in October 2025. Tidewater's B1 CFR is two notches below the scorecard-indicated outcome of Ba2. The difference reflects placing a higher priority on Tidewater's business profile and scale, given its high earnings volatility and high competition in its markets. TODD CREEK: Homeowners Seek Chapter 11 Trustee Appointment ---------------------------------------------------------- Todd Creek Farms Home Owners Association, Inc. and the Homeowners filed with the U.S. Bankruptcy Court for the District of Colorado a stipulated motion to appoint a Chapter 11 trustee for the Debtor. The case was converted to a traditional Chapter 11 by agreement of Edie Apke, Barbara Austin, Georgiana Bohlender, the authorized representative of the Bohlender Jerry Land Bohlender Georgina Living Trust, Paula Boswell, Donna Herrick, Julie Branting, the authorized representative of the Julie M Branting Trust, Lisa Barlow, Danna Colingham, Fred Cone, the authorized representative of the Cone Family Trust, Elizabeth DeLisa, the authorized representative of the Richard A. Delisa Living Trust Und. ½ Int. and Elizabeth A Delisa Living Trust Und. ½ Int., Daniel Dougherty, authorized representative of the Daniel and Debra Dougherty Revocable Trust, Dave Gruthoff, the authorized representative of the Gruthoff Family Trust, John Joyner, Paul King, Shari King, Jennifer Osgood, Dave Osgood, Anitra Rock, Chuck Payne, Keith Seabaugh, Owen Schaeffer, Ria Schaeffer, Kathy Blanchard, Craig Wuertz and Charlie Wuertz (collectively the "Homeowners"), and the Debtor. Pursuant to that agreement, the parties also agreed that, once converted to a Chapter 11, a mutually acceptable Chapter 11 trustee would be appointed pursuant to Section 1104 of the Bankruptcy Code and the Debtor would be removed from possession. In addition, the parties have discussed a mutually agreeable Chapter 11 trustee and have conferred with counsel for the U.S. Trustee. The U.S. Trustee requested that the parties file a motion to appoint the Chapter 11 trustee generally, to be followed up by a separate appointment. A copy of the motion is available for free at https://urlcurt.com/u?l=xaNxsf from PacerMonitor.com. Attorneys for the Homeowners: Jonathan M. Dickey, Esq. KUTNER BRINEN DICKEY RILEY, P.C. 1660 Lincoln Street, Suite 1720 Denver, CO 80264 Email: jmd@kutnerlaw.com Telephone: 303-832-3047 Counsel for the Debtor: Jeffrey A. Weinman, Esq. Matthew M. Wolf, Esq. Michael Best & Friedrich, LLP 675 15th Street, Suite 2000 Denver, Colorado 80202 Telephone: (720) 240-9515 Email: jeffrey.weinman@michaelbest.com matt.wolf@michaelbest.com About Todd Creek Farms Home Owners Association Inc. Todd Creek Farms Home Owners Association Inc. is a residential community management organization that oversees common areas, enforces covenants, and provides services to homeowners in the Todd Creek Farms development. Todd Creek Farms Home Owners Association Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Col. Case No. 25-14385) on July 1, 2025. In its petition, the Debtor reports estimated assets between $500,000 and $1 million and estimated liabilities between $100,000 and $500,000. Honorable Bankruptcy Judge Kimberley H. Tyson handles the case. The Debtors are represented by Jeffrey Weinman, Esq. at Allen Vellone Wolf Helfrich & Factor P.C. TRADE WINDS: Seeks to Hire Anyama Law Firm as Bankruptcy Counsel ---------------------------------------------------------------- Trade Winds Three, LLC seeks approval from the U.S. Bankruptcy Court for the Central District of California to hire Anyama Law Firm, A Professional Law Corporation as bankruptcy counsel. The firm will provide these services: a. advise the Debtor on matters relating to administration of the Estate, and on the Debtor's rights and remedies with regard to the Estate's assets and the claims of secured and unsecured creditors; b. appear for, prosecute, defend and represent the Debtor's interest in suits arising in or related to this case, including any adversary proceedings against the Debtor; c. assist in the preparation of such pleadings, applications, schedules, orders, and other documents as are required for the orderly administration of this estate. The firm will be paid at these rates: Onyinye Anyama, Esq. $400 per hour Samantha Hernandez, Paralegal $150 per hour The firm received a pre-petition retainer of $20,000. Onyinye Anyama, Esq., a partner at Anyama Law Firm, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Onyinye Anyama, Esq. Anyama Law Firm, A Professional Law Corporation 18000 Studebaker Road, Suite 325 Cerritos, CA 90703 Telephone: (562) 645-4500 Facsimile: (562) 318-3669 Email: info@anyamalaw.com About Trade Winds Three, LLC Trade Winds Three, LLC owns the residential property at 23200 Red Rock Rd, Topanga, CA 90290, on a fee simple basis, with a comparable sale value of $1.2 million. Trade Winds Three, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Cal. Case No. 26-14213) on April 29, 2026. In its petition, the Debtor reports estimated assets between $1 million and $10 million and estimated liabilities between $500,001 and $1 million. The case is handled by Honorable Bankruptcy Judge Vincent P. Zurzolo. The Debtor is represented by Onyinye N. Anyama, Esq., of Anyama Law Firm, A Professional Corp. TRANS EXPRESS: Seeks to Tap David Freydin PC as Bankruptcy Counsel ------------------------------------------------------------------ Trans Express Lines, Inc. seeks approval from the U.S. Bankruptcy Court for the Northern District of Illinois to hire the Law Offices of David Freydin PC as bankruptcy counsel. The firm's services include: (a) negotiation with creditors; (b) preparation of a plan and financial statements; and (c) examination and resolution of claims filed against the estate. The professionals will be compensated on an hourly basis at a rate of $450 per hour. The firm received a $20,000 retainer prior to filing the case. The proposed counsel does not hold or represent an interest adverse to the estate and is a disinterested person within the meaning of Section 327(a) and Section 101(14) of the Bankruptcy Code, according to court filings. The firm can be reached at: David Freydin, Esq. Jan Michael Hulstedt, Esq. Derek V. Lofland, Esq. LAW OFFICES OF DAVID FREYDIN, PC 8707 Skokie Blvd, Suite 312 Skokie, IL 60077 Telephone: (847) 972-6157 Facsimile: (866) 897-7577 E-mail: david.freydin@freydinlaw.com jan@freydinlaw.com derek@freydinlaw.com About Trans Express Lines, Inc. Trans Express Lines, Inc. provides freight transportation and logistics services to commercial customers. Trans Express Lines, Inc. filed for bankruptcy relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-08483) on May 15, 2026. The filing shows estimated assets between $10 million and $50 million and estimated liabilities between $10 million and $50 million. Honorable Bankruptcy Judge handles the case. The Debtor is represented by David Freydin, Esq. of Law Offices of David Freydin Ltd. TRANSGLOBAL MANAGEMENT: Acquires Continuum Software in Stock Deal ----------------------------------------------------------------- Transglobal Management Group, Inc. (formerly The Marquie Group, Inc.) disclosed in a regulatory filing that on March 20, 2026, it entered into a Share Exchange Agreement to acquire all of the outstanding shares of Continuum Software Technologies, Inc., a Wyoming corporation, in exchange for 50,645,000 shares of common stock of the Company. CSTI possesses a cloud-based, all-in-one golf management software platform built and designed from the suggestions of golf course operators themselves. The CSTI Platform can be offered to public golf courses, municipalities, and multi-course operators. The CSTI Platform unifies tee sheet management, retail, food-and-beverage point-of-sale, integrated payments, waitlist automation, marketing tools, identity verification, reporting, and a suite of modern hardware solutions. TMGI's Acquisition of CSTI and the CSTI Platform will allow TMGI to market this technology to large golf operators in the United States. On the same day, the Company issued the TMGI Common Stock to the shareholders of CSTI in connection with the Acquisition. Each of the shareholders of CSTI are either "accredited investors" as defined pursuant to Rule 501 of Regulation D or have such knowledge and experience in financial and business matters that they are capable of evaluating the merits and risks of receiving the TMGI Common Stock. No solicitation was made and no underwriting discounts were given or paid in connection with this transaction. The Company believes that the issuance of the TMGI Common Stock in connection with the Acquisition was exempt from registration with the Securities and Exchange Commission pursuant to Section 4(2) of the Securities Act of 1933. A full text copy of the Agreement is available at https://tinyurl.com/2h3573ra About Transglobal Management Group, Inc. Transglobal Management Group, Inc. (OTCID: TMGI) is a publicly traded company focused on building shareholder value through strategic acquisitions and operational growth across golf, leisure, hospitality, and technology-enabled services. Following its acquisition of GETGOLF, LLC, TMGI has expanded its footprint as a diversified platform operating at the intersection of sports, travel, and digital commerce. To date, the Company has funded its operations through a combination of loans and sales of common stock. The Company anticipates another net loss for the fiscal year ending May 31, 2026, and with the expected cash requirements for the coming year, there is substantial doubt as to the Company's ability to continue operations. As of February 28, 2026, the Company had $3,327,621 in total assets, $8,769,730 in total liabilities, and $5,442,109 in total stockholders' deficit. TRANSOCEAN LTD: All 11 Proposals Passed at 2026 Annual Meeting -------------------------------------------------------------- Transocean Ltd. announced in a regulatory filing the final voting results from its Annual Meeting of Stockholders at which shareholders of the Company took action on the following matters: 1. (A) Proposal regarding the approval of the 2025 Annual Report, including the Audited Consolidated Financial Statements of the Company. for Fiscal Year 2025 and the Audited Statutory Financial Statements of the Company for Fiscal Year 2025. * For: 750,552,296 * Against: 2,419,638 * Abstain: 2,287,396 This item was approved. 1. (B) Proposal regarding the advisory vote to approve the Company's Swiss Statutory Compensation Report for Fiscal Year 2025. * For: 594,938,365 * Against: 32,140,199 * Abstain: 1,896,023 * Broker Non-Votes: 126,284,743 This item was approved. 1. (C) Proposal regarding the advisory vote to approve the Company's Swiss Statutory Report on Non-Financial Matters Report for Fiscal Year 2025. * For: 747,518,602 * Against: 4,689,582 * Abstain: 3,051,146 This item was approved. 2. Proposal regarding the discharge of the Members of the Board of Directors and the Executive Management Team from liability for activities during Fiscal Year 2025. * For: 598,427,310 * Against: 16,840,333 * Abstain: 13,706,944 * Broker Non-Votes: 126,284,743 This item was approved. 3. Proposal regarding the Appropriation of the Accumulated Losses for Fiscal Year 2025. * For: 736,519,216 * Against: 15,910,244 * Abstain: 2,829,870 This item was approved. 4. Proposal regarding the approval of Shares authorized for issuance. * For: 689,986,288 * Against: 25,485,761 * Abstain: 39,787,281 The Company approved an amendment to the Articles of Association of the Company to permit the issuance of up to 240,801,936 shares, par value U.S. $0.10 per share, for a term expiring on May 22, 2027. In connection with the foregoing, the Articles of Association of the Company were further amended to reflect changes in the Company's total issued share capital resulting from the issuance of 100,000,000 Shares into treasury pursuant to the general capital authorization approved at the AGM. The Company's Articles of Association now reflect a share capital of U.S. $130,400,968.10 divided into 1,304,009,681 fully paid registered Shares. The issuance of Shares into treasury described above is intended to allow the Company to timely deliver Shares from time to time pursuant to the general capital authorization approved by the Company's shareholders and is exempt pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended, which exempts transactions by an issuer not involving a public offering. A full text copy of the Articles of Association, amended as of May 22, 2026, is available at https://tinyurl.com/yvkahse2 5. Proposals regarding the election of 11 directors, each for a term extending until completion of the next Annual General Meeting. 1. Keelan I. Adamson * For: 610,939,692 * Against: 16,971,385 * Abstain: 1,063,510 * Broker Non-Votes: 126,284,743 2. Glyn A. Barker * For: 605,583,920 * Against: 22,325,035 * Abstain: 1,065,632 * Broker Non-Votes: 126,284,743 3. Vanessa C.L. Chang * For: 606,554,128 * Against: 21,363,480 * Abstain: 1,056,979 * Broker Non-Votes: 126,284,743 4. Frederico F. Curado * For: 536,924,649 * Against: 90,952,788 * Abstain: 1,097,150 * Broker Non-Votes: 126,284,743 5. Chadwick C. Deaton * For: 607,198,359 * Against: 20,752,986 * Abstain: 1,023,242 * Broker Non-Votes: 126,284,743 6. Domenic J. "Nick" Dell'Osso, Jr. * For: 593,908,354 * Against: 34,037,097 * Abstain: 1,029,136 * Broker Non-Votes: 126,284,743 7. Vincent J. Intrieri * For: 609,117,881 * Against: 18,811,363 * Abstain: 1,045,343 * Broker Non-Votes: 126,284,743 8. William F. "Bill" Lacey * For: 612,006,783 * Against: 16,028,196 * Abstain: 939,608 * Broker Non-Votes: 126,284,743 9. Samuel J. Merksamer * For: 607,175,019 * Against: 20,774,960 * Abstain: 1,024,608 * Broker Non-Votes: 126,284,743 10. Frederik W. Mohn * For: 593,666,633 * Against: 34,212,298 * Abstain: 1,095,656 * Broker Non-Votes: 126,284,743 11. Jeremy D. Thigpen * For: 605,594,445 * Against: 22,435,501 * Abstain: 944,641 * Broker Non-Votes: 126,284,743 Each of the 11 persons listed above was duly elected as a director of the Company to hold office until the completion of the next Annual General Meeting. 6. Proposal regarding the election of the Chair of the Board of Directors for a term extending until completion of the next Annual General Meeting. Name of Chair Nominee: Jeremy D. Thigpen * For: 605,505,060 * Against: 22,409,695 * Abstain: 1,059,832 * Broker Non-Votes: 126,284,743 Jeremy D. Thigpen was elected Chair of the Board of Directors of the Company to hold office until the completion of the next Annual General Meeting. 7. Proposal regarding the election of the members of the Compensation Committee, each for a term extending until completion of the next Annual General Meeting. Name of Compensation Committee Nominees: 1. Glyn A. Barker * For: 605,476,279 * Against: 22,346,063 * Abstain: 1,152,245 * Broker Non-Votes: 126,284,743 2. Vanessa C.L. Chang * For: 606,659,268 * Against: 21,153,557 * Abstain: 1,161,762 * Broker Non-Votes: 126,284,743 3. Frederico F. Curado * For: 547,602,610 * Against: 80,174,728 * Abstain: 1,197,249 * Broker Non-Votes: 126,284,743 Each of the three persons listed above was duly elected to serve as a member of the Compensation Committee of the Company to hold office until completion of the next Annual General Meeting. 8. Proposal regarding the reelection of the independent proxy for a term extending until completion of the next Annual General Meeting. * For: 748,971,747 * Against: 4,256,253 * Abstain: 2,031,330 This item was approved. 9. Proposal regarding the ratification of Ernst & Young LLP as the Company's Independent Registered Public Accounting Firm for Fiscal Year 2026 and reelection of Ernst & Young Ltd, Zurich, as the Company's Auditor for a further one-year term. * For: 692,652,694 * Against: 61,460,892 * Abstain: 1,145,744 This item was approved. 10. Proposal regarding the advisory vote to approve Named Executive Officer compensation for Fiscal Year 2026. * For: 486,932,557 * Against: 102,138,948 * Abstain: 39,903,082 * Broker Non-Votes: 126,284,743 This item was approved. 11. (A) Proposal regarding the ratification of the maximum aggregate amount of compensation of the Board of Directors for the period between the 2026 Annual General Meeting and the 2027 Annual General Meeting. * For: 610,150,514 * Against: 16,616,139 * Abstain: 2,207,934 * Broker Non-Votes: 126,284,743 This item was approved. 11. (B) Proposal regarding the ratification of the maximum aggregate amount of compensation of the Executive Management Team for Fiscal Year 2027. * For: 608,443,687 * Against: 18,272,663 * Abstain: 2,258,237 * Broker Non-Votes: 126,284,743 This item was approved. About Transocean Transocean Ltd. is an international provider of offshore contract drilling services for oil and gas wells. The Company specializes in technically demanding sectors of the offshore drilling business, with a particular focus on ultra-deepwater and harsh environment drilling services. As of Feb. 14, 2024, the Company owned or had partial ownership interests in and operated 37 mobile offshore drilling units, consisting of 28 ultra-deepwater floaters and nine harsh environment floaters. Additionally, as of Feb. 14, 2024, the Company was constructing one ultra-deepwater drillship. As of March 31, 2026, the Company had $15.2 billion in total assets, $1.1 billion in total current liabilities, $5.8 billion in total long-term liabilities, and $8.2 billion in total equity. * * * In Feb. 2026, S&P Global Ratings placed all ratings on offshore drilling contractor Transocean Ltd., including the 'CCC+' Company credit rating, on CreditWatch with positive implications. Transocean Ltd. announced it will acquire Valaris Ltd. for $5.8 billion of stock and the assumption of Valaris' $1.1 billion of debt. The acquisition would improve leverage and cash flow metrics while also enhancing scale and diversification. The CreditWatch placement reflects the likelihood that S&P will raise its ratings by one notch on Transocean after the deal closes, assuming the transaction is completed as proposed and there are no substantial changes to its operating assumptions. TRANSOCEAN LTD: Board Dissolves Finance Committee Effective July 1 ------------------------------------------------------------------ Transocean Ltd. disclosed in a regulatory filing that at its recently held meeting, the Board of Directors of the Company approved an amendment to the Organizational Regulations, to be effective as of July 1, 2026, to reflect the dissolution of the Finance Committee. A full text copy of the Organizational Regulations is available at https://tinyurl.com/rjx5ehdd About Transocean Transocean Ltd. is an international provider of offshore contract drilling services for oil and gas wells. The Company specializes in technically demanding sectors of the offshore drilling business, with a particular focus on ultra-deepwater and harsh environment drilling services. As of Feb. 14, 2024, the Company owned or had partial ownership interests in and operated 37 mobile offshore drilling units, consisting of 28 ultra-deepwater floaters and nine harsh environment floaters. Additionally, as of Feb. 14, 2024, the Company was constructing one ultra-deepwater drillship. As of March 31, 2026, the Company had $15.2 billion in total assets, $1.1 billion in total current liabilities, $5.8 billion in total long-term liabilities, and $8.2 billion in total equity. * * * In Feb. 2026, S&P Global Ratings placed all ratings on offshore drilling contractor Transocean Ltd., including the 'CCC+' Company credit rating, on CreditWatch with positive implications. Transocean Ltd. announced it will acquire Valaris Ltd. for $5.8 billion of stock and the assumption of Valaris' $1.1 billion of debt. The acquisition would improve leverage and cash flow metrics while also enhancing scale and diversification. The CreditWatch placement reflects the likelihood that S&P will raise its ratings by one notch on Transocean after the deal closes, assuming the transaction is completed as proposed and there are no substantial changes to its operating assumptions. TRILLION ENERGY: FY2025 Net Loss Widens to $49.2 Million -------------------------------------------------------- Trillion Energy International Inc. filed with the U.S. Securities and Exchange Commission its Annual Report on Form 20-F for the fiscal year ended December 31, 2025. Based on the financial statements, the Company's net loss for the year ended December 31, 2025 increased by $40,092,259 compared to the net loss for the year ended December 31, 2024, with a net loss of $49,220,901 recognized during the year ended December 31, 2025 as compared to a net loss of $9,128,642 for the year ended December 31, 2024. Revenues decreased by $4,120,178 from $7,000,836 for the year ended December 31, 2024 to $2,880,658 for the year ended December 31, 2025. Calgary, Canada-based MNP LLP, the Company's auditor since 2022, issued a "going concern" qualification in its report dated May 23, 2026, attached to the Company's Annual Report on Form 20-F for the year ended December 31, 2025, citing that the Company has a negative working capital position, has accumulated deficits, and negative cash flows from operations, which raise substantial doubt about its ability to continue as a going concern. As at December 31, 2025, the Company's current liabilities exceeded its current assets by $34,373,381 (2024 - $27,931,650) and its accumulated deficit amounts to $103,230,389 (2024 - $54,009,488). In addition, for the year ended December 31, 2025, cash provided by operating activities was $1,244,081 (2024 – $5,695,137 and 2023 - $1,526,577 used by operating activities). The Company's continuation as a going concern is dependent upon its ability to complete financing sufficient to meet current and future obligations, the successful results from its business activities, and its ability to operate profitably and generate funds. Although the Company raised capital in current and previous reporting periods, additional funding will be required to continue current operations and further advance its existing oil and gas assets in the upcoming 12 months. A full text copy of the Company's Form 20-F is available at https://tinyurl.com/ywee8vck About Trillion Energy Trillion Energy International Inc. and its consolidated subsidiaries is a Canadian based oil and gas exploration and production Company. As of December 31, 2025, the Company had $3,102,943 in total assets, $42,000,413 in total liabilities, and $38,897,470 in stockholders' deficiency. TRINSEO PLC: Moody's Cuts Probability of Default Rating to D-PD --------------------------------------------------------------- Moody's Ratings has downgraded Trinseo PLC's (Trinseo) Probability of Default rating to D-PD from Ca-PD. The downgrade follows the company's commencement of Chapter 11 process pursuant to a restructuring support agreement with the majority of its creditors. Corporate governance is a key driver for this rating action. Trinseo's Ca corporate family rating, the C rating on Trinseo Holding S.a.r.l.'s backed senior secured first lien term loan, the Caa3 rating on Trinseo LuxCo Finance SPV S.a r.l.'s senior secured term loans, and the Ca rating on Trinseo LuxCo Finance SPV S.a r.l.'s backed senior secured second lien notes due 2029 remain unchanged. Trinseo PLC's Speculative Grade Liquidity Rating SGL-4 remains unchanged. The rating outlook of all debt issuers remains stable. Subsequent to the action, Moody's will withdraw Trinseo's ratings. RATINGS RATIONALE On May 26, 2026, Trinseo announced it has commenced voluntary chapter 11 cases in the United States Bankruptcy Court for the Southern District of Texas to implement the pre-packaged restructuring plan described in the previously announced Restructuring Support Agreement (RSA). The transactions contemplated under the RSA will reduce Trinseo's debt by approximately $2.0 billion and reduce its annual interest expense by approximately $140 million. The company will emerge from Chapter 11 with $850 million exit term loan, and at least $200 million revolving credit facility. The chapter 11 cases are limited to certain of Trinseo's US affiliates, and certain non-operating affiliates outside the US Trinseo expects to move through this process on an expedited basis, subject to customary regulatory approvals. As part of the chapter 11 process, Trinseo has filed motions to ensure normal operations, including paying vendors and suppliers for goods and services, ensuring they are unimpaired in the process. The company also filed motions to ensure no impact on customer and employee compensation and benefits programs. Trinseo PLC is one of the world's largest producer of styrene butadiene ("SB") latex, polystyrene, PMMA and other engineered polymer blends. The company owns and operates production units at 20 manufacturing sites and one recycling facility around the world. Revenues amounted to about $3 billion in 2025. A comprehensive review of all credit ratings for the respective issuer(s) has been conducted during a rating committee. The principal methodology used in this rating was Chemicals published in February 2026. The Ca CFR is three notches below the Caa1 scorecard-indicated outcome based on the LTM March 31, 2026 results. This differential reflects Trinseo's bankruptcy filing. TRINSEO PLC: Taps Kroll Restructuring as Claims and Noticing Agent ------------------------------------------------------------------ Trinseo PLC and its affiliates seek approval from the U.S. Bankruptcy Court for the Southern District of Texas to hire Kroll Restructuring Administration LLC as claims, noticing, and solicitation agent. Kroll 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. Kroll received an advance payment of $50,000 from the Debtors. Benjamin Steele, a managing director at Kroll, 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: Benjamin Steele Kroll Restructuring Administration LLC 55 East 52nd Street, 17th Floor New York, NY 10055 About Trinseo PLC Trinseo PLC, headquartered in Wayne, Pa. -- https://www.trinseo.com/ -- is an international chemical and materials manufacturer specializing in plastics, latex binders, and synthetic rubber products. Its materials are used across industries such as automotive manufacturing, building and construction, electronics, and packaging, supporting a diversified industrial customer base worldwide. Trinseo PLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 26-90115) on May 20, 2026. In its petition, the Debtor reports estimated assets and liabilities between $1 billion and $10 billion each. The Honorable Bankruptcy Judge Alfredo R. Perez handles the case. Latham & Watkins LLP is serving as Trinseo's legal advisor in the restructuring, supported by co-counsel Hunton Andrews Kurth LLP. The company also retained Centerview Partners LLC as investment banker and FTI Consulting as financial and communications advisor. Ernst & Young LLP as tax auditor and tax accountant and Kroll Restructuring Administration LLC as claims agent. Paul Hastings LLP and PJT Partners advised the Senior Secured Lenders. Gibson, Dunn & Crutcher LLP and Howley Law PLLC represent the OpCo 2028 Ad Hoc Group of lenders. Lazard Freres & Co. also represents the group. Gray Reed and Pallas Partners (US) LLP represent the Ad Hoc Group of Excluded OpCo Term Lenders. Paul, Weiss, Rifkind, Wharton & Garrison LLP and Porter Hedges LLP represent an ad hoc group of holders of 7.625% Second Lien Senior Secured Notes due 2029. TWENTY THREE: Case Summary & Two Unsecured Creditors ---------------------------------------------------- Debtor: Twenty Three Times Investments, LLC, Series A 4980 S. Alma School Road Chandler, AZ 85248 Chapter 11 Petition Date: June 1, 2026 Court: United States Bankruptcy Court Western District of Texas Case No.: 26-11039 Judge: Hon. Shad M Robinson Debtor's Counsel: Susan Tran Adams, Esq. TRAN SINGH, LLP 2502 La Branch St. Houston TX 77004 Email: stran@ts-llp.com Estimated Assets: $10 million to $50 million Estimated Liabilities: $10 million to $50 million The petition was signed by Tracy Norton as manager of Twenty-Three Times Investments, Management, LLC. A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/JDRFEOI/Twenty_Three_Times_Investments__txwbke-26-11039__0001.0.pdf?mcid=tGE4TAMA List of Debtor's Two Unsecured Creditors: Entity Nature of Claim Claim Amount 1. Steven M. Cox $339,610 10058 W. Villa Lindo Drive Peoria, AZ 85383 2. Foley & Lardner LLP Unpaid Legal $179,000 2021 McKinney Ave. Suite 1600 Bills Dallas, TX 75201 TWO FISH: Case Summary & Eight Unsecured Creditors -------------------------------------------------- Debtor: Two Fish Partners, Inc. d/b/a Urban Air Adventure Park 1031 Shire Street Nokomis, FL 34275 Business Description: Two Fish Partners, Inc., doing business as Urban Air Adventure Park, operates a trampoline and indoor adventure park in Fredericksburg, Virginia. The park offers ticketed open play, birthday party services, memberships, and attractions including trampoline areas, bumper cars, laser tag, virtual reality, climbing walls, ropes courses, playground areas, dodgeball, and warrior-course activities. The Fredericksburg location serves family recreation, kids' birthday parties, and special events. Chapter 11 Petition Date: June 1, 2026 Court: United States Bankruptcy Court Middle District of Florida Case No.: 26-04729 Debtor's Counsel: Buddy D. Ford, Esq. FORD & SEMACH, P.A. 9301 West Hillsborough Avenue Tampa, FL 33615-3008 Tel: (813) 877-4669 Fax: (813) 877-5543 E-mail: All@tampaesq.com Total Assets: $851,396 Total Liabilities: $24,186,883 The petition was signed by Thomas Whitaker as president. A full-text copy of the petition, which includes a list of the Debtor's eight unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/56OJS5I/Two_Fish_Partners_Inc__flmbke-26-04729__0001.0.pdf?mcid=tGE4TAMA UNCLE NEAREST: New Buyer Wants to Buy Brand, Nearest Distillery --------------------------------------------------------------- Samantha Dorisca of AfroTech reports that a potential buyer has emerged for Uncle Nearest as the whiskey company works through a court-supervised receivership. According to industry reports, receiver Phillip G. Young Jr. has secured a non-binding letter of intent covering the sale of the Uncle Nearest brand and the Nearest Green Distillery in Shelbyville, Tennessee. The proposed deal excludes Grant Sidney Inc., the largest shareholder, as well as properties owned by the company in Massachusetts and France. The unidentified purchaser is reportedly a Black-owned investment firm that plans to preserve the existing workforce and maintain the brand's connection to the legacy of Nathan "Nearest" Green. Green, widely recognized as the first known Black master distiller in the United States, is credited with mentoring Jack Daniel in whiskey production. The buyer has elected to remain unnamed until the transaction closes, a process expected to take roughly 45 days, the report states. The sale follows a tumultuous period for Uncle Nearest, which entered receivership after defaulting on loans exceeding $108 million owed to Farm Credit Mid-America. Despite objections from co-founder Fawn Weaver and related parties, a federal court ruled that the receivership should continue in order to protect creditor interests and oversee the company's assets, according to AfroTech. Court filings allege that company insiders concealed a $20 million loan transaction involving Grant Sidney Inc. and other entities. Judge Charles Atchley found that the company had engaged in fraudulent conduct and determined that it remained insolvent, with debts totaling nearly $208 million. Uncle Nearest is also reportedly the subject of a federal investigation, though authorities have not publicly disclosed the nature of that inquiry. About Uncle Nearest Uncle Nearest Real Estate Holdings, LLC, based in Shelbyville, Tennessee, owns the Nearest Green Distillery, including the building, furniture, equipment, and fixtures used in its operations. Uncle Nearest sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Tenn. Case No. 26-30472) on March 17, 2026. In its petition, the Debtor reports estimated assets between $50 million and $100 million and estimated liabilities between $10 million and $50 million. Honorable Bankruptcy Judge Suzanne H. Bauknight handles the case. The Debtor is represented by Lynn Tarpy, Esq., of Tarpy,Cox, Fleishmann, & Leveille, PLLC. UNIVERSITY STONE: Taps Norgaard O'Boyle & Hannon as Counsel ----------------------------------------------------------- University Stone Living LLC seeks approval from the U.S. Bankruptcy Court for the District of New Jersey to hire Norgaard O'Boyle & Hannon as counsel. The firm will provide these services: (a) prepare pleadings and related documents in the case; (b) represent the Debtor before the Court, the creditors and interested parties; (c) assist development and proposal of Chapter 11 plan; and (d) advise the Debtor in connection with its rights and duties. The firm will be paid at these hourly rates: Partners and Of Counsel $400 - $425 Senior Associates $325 Associates $250 - $300 Paralegals $150 Karl J. Norgaard, Esq., an attorney at Norgaard O'Boyle & Hannon, 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: Karl J. Norgaard, Esq. Norgaard O'Boyle & Hannon 184 Grand Avenue Englewood, NJ 07631 Telephone: (201) 871-1333 Email: knorgaard@norgaardfirm.com About University Stone Living LLC University Stone Living LLC is a New Jersey-based company engaged in residential property ownership and real estate management activities. University Stone Living LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-15833) on May 22, 2026. In its petition, the Debtor reports estimated assets between $0 and $100,000 and estimated liabilities between $100,001 and $1 million. The Debtor is represented by Karl J. Norgaard, Esq. of Norgaard O'Boyle. URBAN ONE: S&P Downgrades ICR to 'SD' on Subpar Debt Repurchase --------------------------------------------------------------- S&P Global Ratings lowered its issuer credit rating on Urban One Inc. to 'SD' (selective default) from 'CCC+'. S&P also lowered the issue-level ratings on the company's second-lien notes to 'D'. Urban One repurchased about $56 million of its second-lien notes at a significant discount in the first four months of 2026. S&P Global Ratings views the transaction as distressed and tantamount to a default because lenders received less than originally promised. Also, absent the transaction, we believe there was a realistic possibility of a conventional default. S&P said, "We view the note repurchases as distressed and tantamount to a default. Urban One recently announced in its 10-Q filing that, year to date, it has repurchased $55.9 million of its second-lien notes due in 2031 (about 19% of the original note issuance amount of $291 million). While it repurchased the notes in the open market, we still view the buyback as a restructuring because a significant portion of the debt was repurchased. We view the repurchases as distressed and tantamount to a default given lenders received less than originally promised at an average price of 41.2%, a steep discount to par. "Absent a transaction, we believe there was a realistic possibility of a conventional default over the next couple of years. Urban One had S&P Global Ratings-adjusted gross leverage of about 9.8x as of March 31, 2026, and we expect EBITDA will further erode over the next few years given both cyclical and secular challenges facing broadcast radio and cable television, which we believe will make it difficult to materially improve credit metrics. "We plan to raise our ratings back to 'CCC+' in the coming days. We believe Urban One remains dependent on favorable business, financial, and economic conditions to meet its financial obligations, despite the recent debt reduction. We expect broadcast radio revenue and cable TV revenue will continue to decline given secular challenges that will be exacerbated by ongoing macroeconomic uncertainty. Advertisers are also reducing spending on diversity, equity, and inclusion initiatives, which is one of its key advertising categories. The majority of the company's business comes from national advertising, which we expect will continue to underperform local advertising because brand advertising is more expendable than direct response advertising. "In addition, we believe the company will likely seek additional opportunities to buy back debt at a discount, which we would likely view as distressed and tantamount to a default (depending on the buyback amount and discount to par) given its challenged operating and financial performance and uncertainty around future cash flows." VALOR CLUB: Commences Chapter 11 Bankruptcy in Texas ---------------------------------------------------- On June 2, 2026, The Valor Club Partners, LLC filed for Chapter 11 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. The Debtor must submit its Declaration for Electronic Filing by June 9, 2026, and file its Chapter 11 Plan and Disclosure Statement no later than Sept. 30, 2026. About The Valor Club Partners, LLC The Valor Club Partners, LLC is an investment and business development company involved in managing and supporting club, hospitality, and related ventures. The Valor Club Partners, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-51523) on June 2, 2026. In its petition, the Debtor reports estimated assets of $0 to $100,000 and estimated liabilities of $1 million to $10 million. The Honorable Bankruptcy Judge Aubrey L. Thomas handles the case. The Debtor is represented by William R. Davis Jr., Esq., of Langley & Banack, Inc. VENTURE GLOBAL: Moody's Rates New Senior Secured Notes 'B1' ----------------------------------------------------------- Moody's Ratings assigned a B1 rating to Venture Global LNG, Inc.'s (VGLNG) proposed offering of senior secured notes. VGLNG's existing ratings, including its B1 Corporate Family Rating, B1-PD Probability of Default Rating, B1 existing senior secured notes ratings, B3 preferred stock rating, and stable outlook are unchanged. "Venture Global LNG, Inc.'s secured notes issuance is opportunistically refinancing existing debt to extend maturities," commented Amol Joshi, Moody's Ratings Vice President – Senior Credit Officer. RATINGS RATIONALE VGLNG 's B1 CFR considers the company's position as a significant global exporter of liquified natural gas (LNG) and the predictability and recurring nature of anticipated long-dated contractual-based cash flow generated by its LNG export facilities, Venture Global Calcasieu Pass, LLC (VGCP, Ba1 stable), Venture Global Plaquemines LNG, LLC (VGPL, Ba2 positive) and Venture Global CP2 LNG, LLC (CP2, unrated), upon commercial operation. Venture Global, Inc. (VG) is the parent of VGLNG. Currently, VGCP is operating under the parameters of eight separate Sale Purchase Agreements (SPA), VGPL is under construction and ramping-up commissioning activities and CP2 has commenced construction activities. Ultimately each facility will provide fairly low-risk services under long-term take-or-pay contracts with creditworthy counterparties, a critical rating factor. VGLNG's rating is limited, however, by its highly leveraged consolidated balance sheet and various near-term challenges facing the company including a October 2025 negative tribunal decision from the International Chamber of Commerce, International Court of Arbitration (ICC) in arbitration proceedings between VGCP and BP Gas Marketing Limited (BP) regarding LNG sales under which BP is seeking damages ranging from $3.7 billion to potentially in excess of $6.0 billion, as well as interest, costs and attorneys' fees. Remedies will be determined in a separate damages hearing that is expected to occur in May 2027 followed by a final award. Moody's notes that seven customers have filed arbitration proceedings against VGCP over its alleged delay in achieving commercial operation. Three of these proceedings have been resolved in their entirety in manners that have had no material financial impact on VGCP or VGLNG. A fourth proceeding, with Edison S.p.A., has been resolved with a settlement agreement between the parties that is expected to be completed by the end of the second quarter. The three other proceedings, including the second phase of the BP arbitration, remain with uncertain timelines and are being determined by separate and distinct arbitration panels. The company expects one of these three proceedings to be decided before the end of July while the remaining two, including BP, are not expected by the company to be decided until mid-to-late 2027. VGLNG has aggressively pursued growth opportunities, relying on debt financing and cash flows generated during commissioning to fund significant capital outlays. Moody's are unsure about what, if any, implications the current uncertainty around damages and ongoing arbitration proceedings will have on VGLNG's pursuit of additional growth. While any damages awarded to BP or any other party through arbitration would be the legal obligation of VGCP, Moody's expects VGLNG to be the primary source of funding to satisfy such payment obligations. From a liquidity perspective, VG's consolidated cash position as of March 31, 2026 was approximately $1.6 billion. Moody's expects no material differences between VG and VGLNG's cash position. VGLNG's $2 billion revolving credit facility had no outstanding borrowings at March 31. The revolver matures in November 2030 and has a maximum Leverage Ratio incurrence covenant of 6x. Moody's expects the company to be in compliance with its covenants through 2027. VGCP, VGPL and CP2 have access to separate revolving credit facilities to fund the projects' respective working capital requirements. In the first quarter, CP2 Phase II achieved final investment decision (FID) and the closing of a $8.6 billion project financing supporting Phase II, bringing total CP2 financing to $20.7 billion. VGLNG has significant capital spending requirements associated with its projects. The company exported 130 cargos and sold 481 TBtu of LNG in the first quarter, including VGPL's 92 cargos. VGPL, which is expected to achieve its Phase I commercial operations date later in 2026, has become a primary source of cash flow generated within the VG family and should continue to sell cargos on a commissioning basis until the first phase of its SPAs commence in Q4 2026 followed by a second phase in mid-2027. The company expects VGPL to export 347-369 cargoes in 2026, providing an opportunity to produce meaningful cash flow and support adequate liquidity. VGLNG's stable outlook reflects the ability to generate significant earnings from its LNG projects, which should support improvement in credit metrics over time. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS Moody's could consider an upgrade of VGLNG's rating upon receipt of greater clarity around the potential quantum of damages relating to ongoing arbitration involving VGCP with damages limited to an amount that does not weaken credit quality, and is combined with continued sound operating and financial performance at each of VGCP and VGPL. Additional adverse rulings concerning the BP arbitration or prolonged uncertainty on the resolution of the remaining arbitrations could lead to a ratings downgrade. In that regard, damages that require VGLNG to issue material incremental debt for such purposes would be viewed negatively from a rating perspective as would a weakening in operating performance at VGCP and VGPL, a primary source of cash flow for the Venture Global family. The principal methodology used in these ratings was Midstream Energy published in October 2025. Headquartered in Arlington, Virginia, Venture Global LNG, Inc. is engaged in the development, construction and operation of natural gas liquefaction and export projects in Louisiana and the sale of LNG from these facilities. VERASTEM INC: Registers 17.6M Shares Under Three Equity Plans ------------------------------------------------------------- Verastem, Inc. filed a Registration Statement on Form S-8 to register: (i) an additional 5,000,000 shares under the Registrant's Amended and Restated 2018 Employee Stock Purchase Plan, (ii) an additional 12,000,000 shares under the Registrant's Amended and Restated 2021 Equity Incentive Plan and (iii) an additional 600,000 shares under the Registrant's 2014 Inducement Award Program. Pursuant to General Instruction E to Form S-8, the Registrant incorporates by reference, except to the extent supplemented, amended or superseded by the information set forth therein, into this Registration Statement the entire contents of its Registration Statements on Form S-8 (File Nos. 333-201075, 333-218768, 333-223616, 333-228309, 333-229430, 333-257111, 333-277948, 333-279826 and 333-291253) filed with the Securities and Exchange Commission on December 19, 2014, June 15, 2017, March 13, 2018, November 9, 2018, January 30, 2019, June 15, 2021, March 14, 2024, May 30, 2024 and November 4, 2025, respectively. A full text copy of the Registration Statement is available at https://tinyurl.com/m5b7ms77 About Verastem, Inc. Verastem, Inc. is a biopharmaceutical company committed to the development and commercialization of new medicines to improve the lives of patients diagnosed with ras sarcoma / mitogen activated pathway kinase pathway-driven cancers. The Company's pipeline is focused on novel small molecule drugs that inhibit critical signaling pathways in cancer that promote cancer cell survival and tumor growth, including RAF/MEK inhibition, FAK inhibition and KRAS G12D inhibition. As of March 31, 2026, the Company had $227.81 million in total assets, $146.03 million in total liabilities, and $81.78 million in total stockholders' equity. As disclosed in the Company's 10-Q Report for the quarterly period ended March 31, 2026, it anticipates operating losses may continue for the foreseeable future and the Company continues to incur operating costs to execute its strategic plan, including costs related to research and development of its product candidates and commercial activities. As a result of the assessment in accordance with the applicable accounting standards, these conditions raise substantial doubt about the Company's ability to continue as a going concern for 12 months after the date the condensed consolidated financial statements are issued. The Company expects to finance its operations with its existing cash, cash equivalents and investments, through future net product revenues, through potential future milestones and royalties received pursuant to the Company's Asset Purchase Agreement with Secura, pursuant to the Company's Note Purchase Agreement, or through other strategic financing opportunities that could include, but are not limited to collaboration agreements, offerings of its equity, or the incurrence of debt. However, given the risks associated with these potential strategic or financing opportunities, they are not deemed probable for purposes of the going concern assessment. If the Company fails to obtain additional capital or generate sufficient revenue from its commercialization activities in the future, it may be unable to complete its planned preclinical studies and clinical trials and obtain approval of certain investigational product candidates from the FDA or foreign regulatory authorities. Therefore, there is substantial doubt about the Company's ability to continue as a going concern. VERASTEM INC: Shareholders Elect Directors, Back Equity Plans ------------------------------------------------------------- Verastem, Inc. announced in a regulatory filing the final voting results from its 2026 annual meeting of stockholders held in Needham, Massachusetts. At the Annual Meeting, the stockholders considered and acted upon the following proposals: Proposal No. 1: Election of Class II Directors. By the vote reflected below, the stockholders elected the following individuals to serve as Class II directors until the 2029 annual meeting of stockholders and until their respective successors are duly elected and qualified: 1. Michael Bailey * Votes For: 54,096,261 * Votes Withheld: 1,091,917 * Broker Non-Votes: 14,157,934 2. Brian Stuglik * Votes For: 53,816,138 * Votes Withheld: 1,372,040 * Broker Non-Votes: 14,157,934 3. Karin Tollefson * Votes For: 51,011,977 * Votes Withheld: 4,176,201 * Broker Non-Votes: 14,157,934 There were no abstentions with respect to this proposal. Proposal No. 2: Adoption of the Verastem, Inc. Amended and Restated 2021 Equity Incentive Plan. The stockholders voted to approve the Amended 2021 Plan. * 49,803,552 shares voted for the proposal; * 4,539,917 shares voted against the proposal; and * 844,709 shares abstained from voting on the proposal. * There were 14,157,934 broker non-votes on the proposal. Proposal No. 3 -- Adoption of the Verastem, Inc. Amended and Restated 2018 Employee Stock Purchase Plan. The stockholders voted to approve the Amended 2018 Plan. * 53,563,121 shares voted for the proposal; * 786,404 shares voted against the proposal; and * 838,653 shares abstained from voting on the proposal. * There were 14,157,934 broker non-votes on the proposal. Proposal No. 4: The Ratification of the Selection of Ernst & Young LLP as the Company's Independent Registered Public Accounting Firm for the Current Fiscal Year. The stockholders voted to ratify the selection of Ernst & Young LLP as the Company's independent registered public accounting firm for the current fiscal year. * 67,650,315 shares voted for the proposal; * 358,930 shares voted against the proposal; and * 1,336,867 shares abstained from voting on the proposal. * There were no broker non-votes on the proposal. Proposal No. 5: Non-Binding Advisory Vote on the Compensation of the Company's Named Executive Officers. The Company's stockholders approved, on a non-binding, advisory basis, the compensation paid to the Company's named executive officers. * 51,696,318 shares voted for the proposal; * 2,536,847 shares voted against the proposal; and * 955,013 shares abstained from voting on the proposal. * There were 14,157,934 broker non-votes on the proposal. About Verastem, Inc. Verastem, Inc. is a biopharmaceutical company committed to the development and commercialization of new medicines to improve the lives of patients diagnosed with ras sarcoma / mitogen activated pathway kinase pathway-driven cancers. The Company's pipeline is focused on novel small molecule drugs that inhibit critical signaling pathways in cancer that promote cancer cell survival and tumor growth, including RAF/MEK inhibition, FAK inhibition and KRAS G12D inhibition. As of March 31, 2026, the Company had $227.81 million in total assets, $146.03 million in total liabilities, and $81.78 million in total stockholders' equity. As disclosed in the Company's 10-Q Report for the quarterly period ended March 31, 2026, it anticipates operating losses may continue for the foreseeable future and the Company continues to incur operating costs to execute its strategic plan, including costs related to research and development of its product candidates and commercial activities. As a result of the assessment in accordance with the applicable accounting standards, these conditions raise substantial doubt about the Company's ability to continue as a going concern for 12 months after the date the condensed consolidated financial statements are issued. The Company expects to finance its operations with its existing cash, cash equivalents and investments, through future net product revenues, through potential future milestones and royalties received pursuant to the Company's Asset Purchase Agreement with Secura, pursuant to the Company's Note Purchase Agreement, or through other strategic financing opportunities that could include, but are not limited to collaboration agreements, offerings of its equity, or the incurrence of debt. However, given the risks associated with these potential strategic or financing opportunities, they are not deemed probable for purposes of the going concern assessment. If the Company fails to obtain additional capital or generate sufficient revenue from its commercialization activities in the future, it may be unable to complete its planned preclinical studies and clinical trials and obtain approval of certain investigational product candidates from the FDA or foreign regulatory authorities. Therefore, there is substantial doubt about the Company's ability to continue as a going concern. VIAVI SOLUTIONS: Fitch Hikes LongTerm IDR to 'BB', Outlook Stable ----------------------------------------------------------------- Fitch Ratings has upgraded Viavi Solutions Inc.'s Long-Term Issuer Default Rating (IDR) to 'BB' from 'BB-'. Fitch also upgraded the company's senior unsecured notes to 'BB' with a Recovery Rating of 'RR4' from 'BB-'/'RR4'. The first-lien senior secured term loan has been repaid. The Rating Outlook is Stable. The upgrade reflects Viavi's repayment of the $450 million outstanding balance on its term loan, which was funded by an equity issuance and resulted in a EBITDA leverage reduction that is materially beneficial to Viavi's credit profile. Viavi's ratings reflect its solid market position in the wireless and wireline test-and-measurement sub-sectors and its FCF profile. Key Rating Drivers Term Loan Balance Repaid: Viavi's equity issuance generated net proceeds of about $557.2 million. The corresponding repayment of the outstanding $450 million balance on Viavi's first lien secured term loan reduced Fitch's forecast EBITDA leverage for fiscal 2026 (June YE) to 2.6x from 5.1x. A demonstrated longer-term commitment to a conservative capital structure could support Viavi's credit profile. Prior to the term loan repayment, Viavi's operated above its EBITDA leverage downgrade sensitivity and had been deleveraging since the 2025 acquisitions of Inertial Labs, Inc. and the high-speed ethernet, network security and channel emulation testing assets (HSE & CE) of Spirent Communications plc. The term loan repayment effectively completes the M&A-related deleveraging path. Fitch now views Viavi's financial structure as of moderate importance to its credit profile, down from when its leverage was above the downgrade sensitivity. After the term loan repayment, Viavi's EBITDA leverage is already below the 3.0x upgrade sensitivity for its 'BB' IDR. Improving Market Tailwinds: Exposure to AI data center and related fiber network interconnection needs is supporting a fast-growing revenue stream for Viavi as hyperscalers and service providers increase capex. Overall, Viavi operates in competitive markets, including wireline, wireless, aerospace and defense, anti-counterfeiting pigments, and 3D-sensing optical filters for mobile phones. Deep customer relationships and higher barriers to entry in physical layers testing support its market positions. Margin Improvement Actions: The 2025 acquisitions support EBITDA margin through higher scale, a rising mix of higher-margin network and services enablement revenue, and synergy capture. Viavi's 2026 restructuring and workforce plan, which follows its June 2024 plan, is intended to reduce annual operating costs by $30 million, including synergies related to the acquisition of Spirent's HSE & CE assets. Margins should also benefit from improved operating leverage as volume scales. Distinct Business Segments: Viavi operates two largely unrelated segments that support revenue stability. About 70%-80% of revenue typically comes from Network and Service Enablement (NSE), including test and measurement and network optimization, with the remainder from Optical Security and Performance Products (OSP). These less-correlated businesses provide diversification, such as the anti-counterfeiting business for which demand is supported by stimulus-driven banknote growth in weaker economies. The 2025 acquisitions strengthened Viavi's operating profile but in turn reduced the relative countercyclical benefit from OSP. Technology Advancement Supports Demand: Viavi benefits from exposure to the development and deployment of wireless and wireline technologies. The availability of Ethernet speeds of 800 gigabits per second and 1.6 terabits per second supports demand for module prototypes and lab-test solutions. Viavi's relationships with service providers support demand from 5G buildouts, while 6G development supports deeper engagement with key wireless equipment providers. Peer Analysis Viavi competes with Keysight Technologies, Inc. (BBB+/Stable) in its NSE business segment. Keysight has a larger revenue scale of about $6 billion, compared to approximately $1.5 billion for Viavi. Keysight's credit profile benefits from higher EBITDA margins in the high-20% range, compared with Viavi's below 20%, and a track record of a consistent conservative financial structure and policies. Coherent Corp. (BB/Positive) competes with Viavi in OSP, which includes optical filters used in 3D sensing. Coherent's revenue scale is also about $6 billion. Coherent's EBITDA margins in the low-20% range have been higher than Viavi's. Coherent's EBITDA leverage of about 2.0x in fiscal 2026, remains below Viavi's and has also reduced significantly recently as Coherent has also been in a post-acquisition deleveraging cycle. MKS Inc. (BB/Stable) is a 'BB' category peer. Fitch expects EBITDA leverage of about 4x at fiscal year-end 2026, with MKS similar to Viavi, having made discretionary term loan repayments to reduce post-acquisition leverage, but to a less significant level as Viavi's term loan repayment. Both generate FCF margins that support their credit profiles, with MKS's typically around 10% and slightly higher than Viavi's. Fitch’s Key Rating-Case Assumptions - Organic revenue growth forecast in NSE about mid-single digit after fiscal 2026 is supported by the increased demand for higher bandwidth through fiber buildout by data center and service providers, along with the introduction of 1.6 terabits-per second products; --EBITDA margins in the high teens over forecast period, supported by restructuring synergies and operating leverage increases; - Term loan B is repaid with equity issuance proceeds. With the leverage reduction, FCF use becomes more balanced among tuck-in acquisitions and share repurchases; - Capex of 2% to 2.5% of revenue annually in line with recent annual levels following a period of a higher capital investment requirement; - Base interest rates applicable to the company's outstanding variable-rate debt obligations reflect the secured overnight financing rate (SOFR) forward curve of 3.7%, 3.2%, 3.05% and 3.35% for fiscal years 2026-2029. Corporate Rating Tool Inputs and Scores Fitch scored the issuer as follows, using its Corporate Rating Tool (CRT) to produce the Standalone Credit Profile (SCP): Business and financial profile factors (assessment, relative importance): management ('bb+', Moderate), sector characteristics ('bb', Higher), market and competitive positioning ('bb', Moderate), diversification and asset quality ('bb', Moderate), company operational characteristics ('bbb-', Lower), profitability ('bb+', Lower), financial structure ('bbb', Moderate), and financial flexibility ('bb', Moderate). The quantitative financial subfactors are based on custom CRT financial period parameters: 10% weight for the historical year FY25, 50% for the forecast year FY26 and 40% for the forecast year FY27. The governance assessment of 'good' has no impact. The operating environment assessment of 'a' has no impact. The SCP is 'bb'. To derive the Long-Term IDR: Fitch made no adjustments to the SCP, resulting in an IDR of 'BB'. RATING SENSITIVITIES Factors that Could, Individually or Collectively, Lead to Negative Rating Action/Downgrade - Sustained below-market organic revenue growth or a material decline in end market demand; - Neutral FCF margins; - EBITDA leverage sustained above 3.5x or adoption of a aggressive financial policy. Factors that Could, Individually or Collectively, Lead to Positive Rating Action/Upgrade - Durable organic revenue growth in high-single digits consistent with market share capture; - Evidence of a decrease in revenue and EBITDA margin volatility through a cycle; - EBITDA leverage durably sustained below 3.0x, along with a public re-commitment to a target below this level through the cycle. Liquidity and Debt Structure As of fiscal 3Q26 on March 28, 2026, Viavi held $499 million in cash and cash equivalents, excluding about $1.8 million in short-term investments and $7.2 million in restricted cash. Liquidity is supported by an undrawn $200 million ABL revolving credit facility maturing in 2030, which at 3Q26 net of letters of credit had $182.7 million of available borrowing capacity. Positive FCF generation is expected to provide support for Viavi's liquidity position over the rating horizon. During fiscal 4Q26 Viavi received net of fees $557.2 million cash for shares issued, which after the $450 million repayment of its term loan, leaves about $107 million of additional cash remaining for working capital and general corporate purposes. Viavi's only remaining outstanding debts are its $400 million senior unsecured notes due in 2029 and $250 million 0.625% senior convertible notes maturing in 2031. Due to Viavi's stock exceeding 130% of the convertible's conversion price for at least 20 trading days during the last 30 trading days of the calendar quarter, these notes are convertible at holders' option through June 30, 2026. Issuer Profile Viavi is a provider of network test, monitoring and assurance solutions, as well as optical solutions for hard currency anti-counterfeiting pigments and 3D sensing. MACROECONOMIC ASSUMPTIONS AND SECTOR FORECASTS Fitch's latest quarterly Global Corporates Sector Forecasts Monitor data file which aggregates key data points used in its credit analysis. Fitch's macroeconomic forecasts, commodity price assumptions, default rate forecasts, sector key performance indicators and sector-level forecasts are among the data items included. Climate Vulnerability Signals The results of its Climate.VS screener did not indicate an elevated risk for Viavi Solutions Inc.. ESG Considerations The highest level of ESG credit relevance is a score of '3', unless otherwise disclosed in this section. A score of '3' means ESG issues are credit-neutral or have only a minimal credit impact on the entity, either due to their nature or the way in which they are being managed by the entity. Fitch's ESG Relevance Scores are not inputs in the rating process; they are an observation on the relevance and materiality of ESG factors in the rating decision. Entity/Debt Rating Recovery Prior ----------- ------ -------- ----- Viavi Solutions Inc. LT IDR BB Upgrade BB- senior unsecured LT BB Upgrade RR4 BB- VT TOPCO: Fitch Affirms 'B' LongTerm IDR, Outlook Stable -------------------------------------------------------- Fitch Ratings has affirmed VT Topco, Inc.'s (Veritext) Long-Term Issuer Default Rating (IDR) at 'B' and its first lien senior secured debt at 'B+' with a Recovery Rating of 'RR3'. The Rating Outlook is Stable. Veritext's IDR reflects the company's scale and leading position in the relatively niche and fragmented court reporting industry, its ability to grow revenue both organically and through acquisitions, and its diversified customer base. The rating also reflects Fitch's expectation that leverage will be maintained in the 5.0x-6.0x range over the rating horizon, with the company's private equity ownership likely prioritizing growth and shareholder returns over debt reduction in the medium term, and the evolving impact of AI. Key Rating Drivers Leverage to Remain Elevated: Fitch expects leverage to decline to the mid-5.0x range in 2026 and remain in the 5.0x-6.0x range over the rating horizon. Veritext's leverage rose to just under 6.0x in 2025 from around 5.0x in 2024, driven by its USD425 million debt-funded dividend recapitalization, and Fitch expects Veritext to continue prioritizing M&A and shareholder returns over material debt reduction across the horizon. Positive rating momentum would depend on Veritext demonstrating a track record of prioritizing deleveraging over shareholder returns. Leading Scale in Fragmented Industry: Veritext benefits from scale as a market leader in the court reporting sector in North America. Its footprint, brand recognition, technological capabilities and breadth of services, relative to thousands of local competitors, should position it well to continue to consolidate its highly fragmented market. Although barriers to entry are low, scale and technological capabilities provide competitive advantages in serving clients. Strong FCF Supports Growth Strategy: The company generates solid FCF, which should be sufficient to fund its inorganic growth strategy of tuck-in acquisitions. Fitch projects Veritext's pre-dividend FCF margin to average in the low double digits through 2027. Underlying these assumptions is capital expenditure (capex) intensity of about 2.5% of net revenue, most of which is attributed to product development, with modest cash taxes and working capital expenses. M&A Risk Manageable: The company's acquisition strategy focuses on expanding market presence through targeted, small-scale deals that generate single-digit million-dollar revenue on average and integrate into or expand Veritext's geographic footprint. These acquisitions are primarily funded through internal cash flow. Acquisitions have diluted margins, but Veritext should be able to offset most of the margin impact through operational efficiencies over time. Fitch anticipates that FCF will continue to support inorganic investments, with any pressure on leverage more likely stemming from shareholder returns. Good Client Retention and Diversification: Veritext maintains an estimated 95% client retention rate, contributing to consistent organic growth. Pricing risk is low and mitigated due to court reporting services representing a small percentage of overall litigation costs. A broadly diverse customer base minimizes idiosyncratic risks associated with any single customer resulting in low revenue volatility. Service contracts are not widely used in the industry. AI as a Potential Disruptor: Veritext's court reporting revenue streams could face pressure over the medium term as AI transcription tools continue to evolve. Fitch expects Veritext will increase investments around AI, supporting efficiencies and the development of AI-enabled products, though pricing power may still face some pressure as the technology matures. Veritext's growing mediation segment, however, remains insulated from AI pressures in Fitch's view given its inherently human, relationship-driven nature. Peer Analysis Veritext is a market leader in court reporting and one of a handful of companies competing at the national level. It has a large and diversified customer base with no major customer concentration. Financial metrics of national peers are unknown as they are private; however, Fitch believes that the company is the largest in its field. Fitch compares Veritext to business services companies with similar financial and/or business profile characteristics in a range of industries. Certain attributes are comparable to services companies CohnReznick Advisory LLC (CohnReznick, B/Stable), Ellis Aggregator UK LP (Gen II, B+/Stable), GTCR Everest Borrower, LLC (AssetMark, B+/Stable) and Vialto UK Interco 3 Limited (Vialto, B-/Stable). Like Veritext, many of these peers compete in fragmented industries. Veritext is smaller in scale and as measured by EBITDA and has lower margins than AssetMark. However, Veritext is larger and has stronger margins than the rest of the peer set. Veritext's leverage is expected to be higher than AssetMark's, Gen II's and CohnReznick's, and potentially like Vialto's. Fitch’s Key Rating-Case Assumptions - Revenue increases in the mid-single-digit range driven by organic growth and M&A; - Adjusted EBITDA margin around 33%, with efficiencies mostly offsetting impacts of revenue mix and the lower margin profile of acquired revenue; - Capex of around 2.5% of net revenue a year; - Positive FCF generation annually, with cash used to fund around $75 million to $100 million in annual M&A spending; - Leverage in the 5.0x-6.0x range across the horizon, with capital allocation policies prioritizing M&A and shareholder returns; - Floating interest rate of 3.65%. Corporate Rating Tool Inputs and Scores Fitch scored the issuer as follows, using its Corporate Rating Tool (CRT) to produce the Standalone Credit Profile (SCP): - Business and financial profile factors (assessment, relative importance): management (bb+, Moderate), sector characteristics (bb, Moderate), market and competitive positioning (bb+, Lower), diversification and asset quality (bb-, Moderate), company operational characteristics (b, Moderate), profitability (a-, Lower), financial structure (b-, Higher), and financial flexibility (b+, Moderate). - The quantitative financial subfactors are based on standard CRT financial period parameters: 20% weight for the latest historical year 2025, 40% for the forecast year 2026 and 40% for the forecast year 2027. - 'B+' to 'CC' considerations apply in its analysis and have no impact. - The Governance assessment of 'good' has no impact. - The Operating Environment assessment of 'aa-' has no impact. - The SCP is 'b'. To derive the Long-Term IDR: - Fitch made no adjustments to the SCP, resulting in an IDR of 'B'. Recovery Analysis Fitch's recovery analysis assumes that Veritext would be maximized as a going concern (GC) rather than liquidated in a post-default scenario, with a GC valuation of approximately $1.24 billion. The GC EBITDA estimate reflects Fitch's view of a sustainable, post-reorganization EBITDA level upon which Fitch bases the enterprise valuation. The recovery analysis envisions a hypothetical scenario where Veritext faced some combination of intense competitive price pressure, cost pressures or change in mix that reduces margins to a point that it becomes difficult for the company to service its obligations and continue to execute its business plan. In such a scenario, Fitch assumes Veritext's GC EBITDA would fall to around $250 million. An enterprise value multiple of 5.5x is applied to the GC EBITDA to calculate a post-reorganization enterprise value. The choice of this multiple considers industry M&A, transactions and trading multiples of comparable industries and historical bankruptcy case study exit multiples for companies in the telecommunications, media and technology sector where business services companies such as Veritext reside. After deducting 10% for administrative claims, this yields approximately $1.24 billion in value available to service debt leading to good recovery prospects for the $125 million senior secured revolving credit facility (assumed to be fully drawn in a default scenario), the approximately $1.34 billion senior secured term loan, and the $500 million in senior secured notes. Veritext's senior secured debts are therefore assigned 'RR3' Recovery Ratings and 'B+' instrument ratings. RATING SENSITIVITIES Factors that Could, Individually or Collectively, Lead to Negative Rating Action/Downgrade - Operational underperformance or increased competition resulting in declining revenue and/or EBITDA. - EBITDA leverage sustained above 6.0x; - Interest coverage sustained below 2.0x; - Cash flow from operations (CFO) minus capex to debt sustained below 5%. Factors that Could, Individually or Collectively, Lead to Positive Rating Action/Upgrade - EBITDA leverage sustained below 5.0x; - (CFO-capex)/debt sustained around 7.5%; - Sufficient financial flexibility for Veritext to pursue strategic actions without a major deviation in credit metrics. Liquidity and Debt Structure Veritext's liquidity as of Dec. 31, 2025 is supported by cash on its balance sheet, its undrawn $125 million revolving credit facility, and Fitch's expectation the company will generate positive pre-dividend FCF which should be more than sufficient to fund its tuck-in acquisition strategy. Also as of Dec. 31, 2025, the company's debt was composed of around $1.34 billion in senior secured term loan B debt due 2030 amortizing at 1% a year, $500 million of senior secured notes due 2030 and the undrawn senior secured revolver maturing in 2028. Issuer Profile Veritext operates as a court reporting firm providing transcripts of testimony from depositions, arbitrations and other events principally to the legal profession throughout the U.S. and Canada. MACROECONOMIC ASSUMPTIONS AND SECTOR FORECASTS Fitch's latest quarterly Global Corporates Sector Forecasts Monitor data file which aggregates key data points used in its credit analysis. Fitch's macroeconomic forecasts, commodity price assumptions, default rate forecasts, sector key performance indicators and sector-level forecasts are among the data items included. Climate Vulnerability Signals The results of its Climate.VS screener did not indicate an elevated risk for VT Topco, Inc. ESG Considerations The highest level of ESG credit relevance is a score of '3', unless otherwise disclosed in this section. A score of '3' means ESG issues are credit-neutral or have only a minimal credit impact on the entity, either due to their nature or the way in which they are being managed by the entity. Fitch's ESG Relevance Scores are not inputs in the rating process; they are an observation on the relevance and materiality of ESG factors in the rating decision. Entity/Debt Rating Recovery Prior ----------- ------ -------- ----- VT Topco, Inc. LT IDR B Affirmed B senior secured LT B+ Affirmed RR3 B+ WABNO HOSPITALITIES: Unsecureds Will Get 100% over 5 Years ---------------------------------------------------------- WABNO Hospitalities, Inc., filed with the U.S. Bankruptcy Court for the Southern District of New York a Disclosure Statement describing Plan of Reorganization dated May 26, 2026. The Debtor was formed in 2002 and currently operates as a transitional housing facility in Newburgh (Orange County), New York. WABNO was previously run as a hotel and conference center at the same location. In or about 2023, WABNO entered into an agreement with Enrindy Hospitalities, LLC, whereby Enrindy was to occupy and operate the premises located at 90 Route 17K, Newburgh, New York (the "Property"), pay rent to WABNO, and ultimately purchase the Property. Enrindy defaulted on the rent obligations to WABNO, caused significant damage to the Property, and failed to obtain the necessary mortgage commitment to purchase the Property. As a result, WABNO was unable to service its mortgage obligation to Hudson Valley Credit Union ("HVCU"). In late 2024, WABNO resumed control and operations of the hotel. The damage caused by Enrindy to the Property significantly affected the gross revenue ever since WABNO has resumed operations. HVCU commenced a commercial foreclosure action and obtained a judgment of foreclosure prior to the Chapter 11 filing. Since the Chapter 11 filing, the Debtor has worked to stabilize its income, primarily from Orange County Department of Social Services, and the Debtor has remained current on its postpetition obligations, including adequate protection payments to HVCU. The Chapter 11 reorganization has provided WABNO a chance to retain the Property and restructure its business operations. Class 3 consists of all Allowed Unsecured Claims. Unless otherwise agreed by the applicable holder of an Allowed Claim in this Class to accept different and less favorable treatment, each holder of an Allowed Unsecured Claim shall be entitled receive a one hundred percent distribution of its claim over a period of 5 years. The amount of the Class 3 claims total the sum of $24,001.75. The monthly payment to Class 3 creditors shall be approximately $400.00. Class 4 consists of the interest of the shareholder of the Debtor, Bushra Javaid. Bushra Javaid shall retain one hundred percent of her ownership interest in each of the reorganized Debtor, but shall not receive any dividends or payments under the Plan. Said individual noted above owns one hundred percent of the outstanding shares of the Debtor, and is an insider as defined by the Bankruptcy Code. The Debtor's Plan will be implemented by revenues generated and received in the ordinary course and operations of the business of the Debtor. While the Debtor's primary objective is to perform under this Plan through property operations, the Plan contemplates a contingency exit strategy whereby the Property may be marketed for sale if necessary to satisfy the claims set forth herein in an economically efficient manner. As of the Effective Date, and except as otherwise provided in this Plan, pursuant to the provisions of Bankruptcy Code Section 1141(b) and (c), all assets shall vest in the reorganized Debtor free and clear of all Claims, liens, encumbrances, charges, membership interests and other interests, subject to the terms and conditions of this Plan and the Confirmation Order. A full-text copy of the Disclosure Statement dated May 26, 2026 is available at https://urlcurt.com/u?l=c22UBq from PacerMonitor.com at no charge. Counsel to the Debtor: Michelle L. Trier, Esq. Genova, Malin & Trier, LLP 1136 Route 9 Wappinger Falls, NY 12590 Telephone: (845) 298-1600 Email: michelle@gmtllp.com About WABNO Hospitalities WABNO Hospitalities, Inc., operates a hotel and conference facility in Newburgh, New York. WABNO Hospitalities filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. S.D.N.Y. Case No. 26-35202) on Feb. 27, 2026, listing $7,360,708 in assets and $5,133,999 in liabilities. The petition was signed by Asif Javaid as vice president. Judge Kyu Young Paek presides over the case. Michelle L. Trier, at GENOVA, MALIN & TRIER, LLP, serves as the Debtor's counsel. WEST RIDGE HOLDCO: Starts Chapter 11 Bankruptcy in Colorado ----------------------------------------------------------- On June 3, 2026, West Ridge Holdco, LLC filed for Chapter 11 protection in the U.S. Bankruptcy Court for the District of Colorado. According to court filings, the Debtor reports between $10 million and $50 million in debt owed to between 1 and 49 creditors. The Chapter 11 Plan and Disclosure Statement are due by October 1, 2026, while Government Proofs of Claim must be filed by November 30, 2026. About West Ridge Holdco, LLC West Ridge Holdco, LLC is a holding company engaged in the ownership, management, and oversight of investment, operating, and real estate-related assets. West Ridge Holdco, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-13965) on June 3, 2026. In its petition, the Debtor reports estimated assets of $10 million to $50 million and estimated liabilities of $10 million to $50 million. The Honorable Bankruptcy Judge Thomas B. McNamara handles the case. The Debtor is represented by Steven T. Mulligan, Esq., of Coan, Payton & Payne, LLC. WHIRLPOOL CORP: Moody's Rates New $1.5BB Second Lien Notes 'Ba1' ---------------------------------------------------------------- Moody's Ratings assigned Ba1 ratings to Whirlpool Corporation's (Whirlpool) proposed $1.5 billion guaranteed senior secured second lien notes, consisting of two $750 million tranches due 2031 and 2034. Moody's affirmed all of Whirlpool's other ratings including the company's Ba3 Corporate Family Rating, and Ba3-PD Probability of Default rating. Moody's also affirmed the B1 senior unsecured notes ratings for Whirlpool and its guaranteed subsidiary borrowers, Whirlpool EMEA Finance S.a r.l. (WEF) and Whirlpool Finance Luxembourg S.a.r.l (WFL). In addition, Moody's affirmed the Not Prime commercial paper ratings of Whirlpool and its guaranteed subsidiary borrower Whirlpool Europe B.V. The outlooks for Whirlpool, WEF and WFL remain negative. Moody's changed Whirlpool's speculative grade liquidity rating to SGL-3 from SGL-4. Whirlpool expects to use the proceeds from the proposed second lien notes offering to refinance WFL's existing Euro-denominated unsecured notes due 2026 (EUR500 million) and 2027 (EUR600 million), and repay the borrowings outstanding on its existing revolver. The company is also entering into a new $2.0 billion asset based lending (ABL) revolving facility due 2031. The notes offering is credit positive because it will improve Whirlpool's liquidity by extending maturities, though it will increase cash interest cost. Improved liquidity provides greater flexibility to invest and execute the company's turnaround initiatives. Moody's affirmed the existing ratings including the Ba3 CFR because Moody's anticipated that the company would be able to address the maturities, and the incremental cash interest will weaken free cash flow. The Ba1 rating on the proposed senior secured notes is two notches above the Ba3 CFR, reflecting the secured notes effective and structural priority relative to the unsecured debt, as well as the loss absorption cushion provided by the significant amount of unguaranteed and unsecured obligations in the company's debt capital structure. The ABL is secured by a first lien on substantially all domestic assets permitted to be pledged within the terms of the existing senior unsecured notes. The proposed notes are secured by a second priority pledge on this collateral. The security package includes intellectual property and tangible assets in addition to the more traditional assets pledged to ABLs such as receivables and inventory. Moody's expects to withdraw the B1 ratings on the Euro-denominated notes maturing in 2026 and 2027 if they are repaid as part of the refinancing. Moody's upgraded the speculative grade liquidity rating to SGL-3 from SGL-4 because the refinancing addresses the 2026 and 2027 maturities. Whirlpool's liquidity is supported by $626 million of cash as of March 2026, Moody's projections for approximately $200 million of free cash flow over the next 12 months and good availability on the new ABL revolver. The liquidity provides flexibility to fund the highly seasonal working capital needs. The next maturity is $585 million of notes due in February 2028. RATINGS RATIONALE Whirlpool's Ba3 CFR reflects its significant scale and strong appliance market positions in North America and Latin America supported by well-known brand names with a good track record of product innovation. The ratings are constrained by the highly cyclical nature of the consumer appliances business and variability in raw material, labor, energy, and transportation costs that can result in sharply lower earnings and cash flow when demand softens. The cyclicality is only partially dampened by approximately 65% of sales being related to more resilient appliance replacement demand. The strong revenue and earnings growth in the company's Small Domestic Appliances (SDA) Global segment is helping to somewhat offset earnings volatility during the current cyclical downturn. The rating also reflects the challenges Whirlpool faces to reduce its current very high financial leverage, with debt/EBITDA at around 7.1x for the last 12-months (LTM) period ending 1Q26. The company's financial policy includes a net debt-to-EBITDA leverage target of 2.0x (as per company's calculation) that indicates a desire to meaningfully reduce leverage over time. Although leverage is currently very far above this target, Whirlpool's February 2026 equity issuance and May 2026 common dividend suspension will support deleveraging, if earnings rebound. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS The negative outlook reflects the high leverage, continued demand pressures, and ongoing uncertainty surrounding Whirlpool's ability to restore profitability and materially improve its credit metrics in a challenging operating environment. The ratings could be upgraded if Whirlpool demonstrates good operating execution of its strategic initiatives that leads to consistent organic revenue growth while improving the operating profit margin to at least the high single digits percentage range, and generating consistent and materially higher annual free cash flow. A ratings upgrade would also require debt/EBITDA sustained below 4.5x, free cash flow/net debt sustained above 7.5%, and at least good liquidity. The ratings could be downgraded if Whirlpool is unable to improve operating earnings due to factors such as soft consumer appliance demand, market share declines, pricing or competitive pressures, or cost increases. The ratings could also be downgraded if free cash flow does not improve over the next 12 months to at least 3% of debt, or liquidity deteriorates for any reason. The principal methodology used in these ratings was Consumer Durables published in December 2025. The net effect of any adjustments applied to rating factor scores or scorecard outputs under the primary methodology(ies), if any, was not material to the ratings addressed in this announcement. Headquartered in Benton Harbor, Michigan, Whirlpool Corporation is a publicly-traded company that manufactures and markets a full line of large home appliances and related products including laundry washers and dryers, refrigerators and freezers, dishwashers, cooking, and microwaves. Products are sold under various brands including Whirlpool, Maytag, KitchenAid, Indesit, Insinkerator and Jennair. Revenue in fiscal 2025 were $14.7 billion and pro forma for the deconsolidation of the Whirlpool India operations following the sale to less than a majority stake. WISCONIC LLC: Seeks Approval to Hire HYPERAMS LLC as Auctioneer --------------------------------------------------------------- Wisconic LLC seeks approval from the U.S. Bankruptcy Court for the Western District of Wisconsin to employ HYPERAMS, LLC as an auctioneer. HYPERAMS will conduct an online auction to sell all tangible personal property assets of the Debtor, including but not limited to machinery and equipment, furniture, office equipment, tools, building supplies, fixtures, miscellaneous operational assets and inventory. HYPERAMS has agreed to conduct an online auction in exchange for a flat fee of $45,000 subject to the Buyer's Premium. HYPERAMS has also agreed to receive an 18% buyer's fee, which will be added to each buyer's bill and of which 3% will be paid to the online auction platform. HYPERAMS is a "disinterested person" within the meaning of 11 U.S.C. Sec. 101(14), according to court filings. The firm can be reached through: Robert Pabst HYPERAMS, LLC 980 Carnegie Street Rolling Meadows, IL 60008 Email: info@hyperams.com About Wisconic LLC Wisconic LLC in Elroy WI, sought relief under Chapter 11 of the Bankruptcy Code filed its voluntary petition for Chapter 11 protection (Bankr. W.D. Wis. Case No. 26-10109) on Jan. 22, 2026. The Debtor hires Swanson Sweet LLP as general bankruptcy counsel. WISER SOLUTIONS: Hires SSG Advisors LLC as Investment Banker ------------------------------------------------------------ Wiser Solutions, Inc. and its affiliates seek approval from the U.S. Bankruptcy Court for the Northern District of Texas to employ SSG Advisors, LLC to serve as investment banker. The firm's services include: a. advising the Debtors on, and assisting the Debtors in preparing an information memorandum describing the Debtors, their management, and financial status for use in discussions with prospective purchasers and to assist in the due diligence process for a potential sale transaction; b. assisting the Debtors in developing a list of suitable potential buyers who will be contacted on a discreet and confidential basis after approval by the Debtors; c. coordinating the execution of confidentiality agreements for potential buyers wishing to review the information memorandum; d. assisting the Debtors in maintaining a virtual data room and coordinating site visits for interested buyers and working with management to develop presentations for such visits; e. soliciting competitive offers from potential buyers; f. advising and assisting the Debtors in structuring a sale transaction, negotiating a sale transaction agreement with potential buyers and evaluating the proposals from potential buyers; g. providing expert testimony in support of a sale transaction, as necessary; and h. assisting the Debtors, their attorneys, and accountants, as necessary, through closing of a sale transaction on a best efforts basis. The firm will be paid at these fees: a. Initial Fee. An initial fee of $75,000, which was due upon signing the Engagement Agreement. b. Monthly Fees. Monthly fees of $25,000 per month payable beginning April 20, 2026, and on the twentieth (20th) of each month thereafter throughout the Engagement Term. The first three (3) paid Monthly Fees will be credited back one hundred percent (100%) against the Sale Fee. c. Sale Fee. Upon the consummation of a Sale Transaction to any party, a fee equal to $450,000 plus five percent (5%) of (a) Total Consideration in excess of the stalking horse bid, and (b) Total Consideration received for the sale of any assets not sold to the stalking horse bidder. d. In addition to the foregoing Initial Fee, Monthly Fees, and Transaction Fee, SSG will be entitled to reimbursement for all of SSG's reasonable and documented out of-pocket expenses incurred in connection with the Engagement Agreement, whether or not a sale transaction or restructuring transaction is consummated. SSG Advisors, LLC is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code and does not hold or represent an interest adverse to the Debtor, its creditors, or equity holders, according to court filings. The firm can be reached at: Michael Goodman SSG Advisors, LLC 300 Barr Harbor Drive, Suite 420 West Conshohocken, PA 19428 Phone: (610) 940-5806 Email: mgoodman@ssgca.com 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. WISER SOLUTIONS: Seeks to Hire Hogan Lovells US LLP as Attorney --------------------------------------------------------------- Wiser Solutions, Inc. and its affiliates seek approval from the U.S. Bankruptcy Court for the Northern District of Texas to employ Hogan Lovells US LLP as attorneys. The firm's services include: (a) advising the Debtors' management and board of directors with respect to their rights, duties, and obligations under the Bankruptcy Code in connection with these chapter 11 cases; (b) preparing, negotiating, and prosecuting motions, applications, and other pleadings filed in these chapter 11 cases, including first‑day motions, retention applications, financing motions, and sale‑related pleadings; (c) advising and representing the Debtors in connection with the proposed sale of substantially all of the Debtors' assets pursuant to section 363 of the Bankruptcy Code, including the negotiation and documentation of any asset purchase agreement and related bidding procedures; (d) representing the Debtors in negotiations with the Debtors' secured lenders, creditors, bidders, and other parties in interest; and (e) providing such other legal services as may be requested by the Debtors in connection with the administration of these chapter 11 cases. Hogan Lovells standard hourly rates are: Partners $1,415 to $2,425 Associates and Counsel $750 to $1,565 Paralegals/Legal Support $295 to $735 Prior to the Petition Date, Hogan Lovells received payments and advances in the approximate amount of $1,194,923.16 for services performed and expenses incurred, including in preparation of the Debtors' chapter 11 cases. Hogan Lovells is a "disinterested person" within the meaning of section 101(14) of the Bankruptcy Code, as modified by section 1107(b) of the Bankruptcy Code, and does not hold or represent an interest adverse to the Debtors' estates, according to court filings. The firm can be reached through: Todd M. Schwartz, Esq. HOGAN LOVELLS US LLP 609 Main Street Houston, TX 77002 Tel: (650) 463-4000 Fax: (650) 463-4199 Email: todd.schwartz@hoganlovells.com 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. WISER SOLUTIONS: Seeks to Hire Thompson Coburn LLP as Attorney -------------------------------------------------------------- Wiser Solutions, Inc. and its affiliates seek approval from the U.S. Bankruptcy Court for the Northern District of Texas to employ Thompson Coburn LLP as attorneys. The firm's services include: (a) serving as local counsel, including providing legal advice regarding the Local Rules and the Court's standing orders, practices, and procedures; (b) providing legal advice regarding Fifth Circuit jurisprudence, practices, and procedures; (c) providing services connected to the administration of these Chapter 11 Cases, including assisting with or preparing hearing agendas, hearing notices, witness and exhibit lists, and such other services as may be requested by the Debtors or Hogan Lovells US LLP (Hogan Lovells) or otherwise required by the Local Rules or this Court; (d) reviewing and providing guidance on proposed drafts of pleadings to be filed by the Debtors with the Court, including, among other things, ensuring compliance with local law and Fifth Circuit precedent; (e) advising and consulting with the Debtors on the conduct and status of these Chapter 11 Cases, and the implications and requirements of federal bankruptcy law; (f) at the request of the Debtors and Hogan Lovells, taking all necessary actions to protect, preserve, and maximize the value of the Debtors' Chapter 11 estates; (g) at the request of the Debtors and Hogan Lovells, preparing necessary or appropriate motions, applications, responses, proposed orders, reports, and other pleadings and filings in connection with the administration of the Debtors' estates and these Chapter 11 Cases; (h) communicating with parties-in-interest, including the Debtors' creditors and any statutorily appointed committees; (i) attending hearings and meetings on behalf of the Debtors as their local counsel; (j) at the request of the Debtors and Hogan Lovells, taking necessary and appropriate action on behalf of the Debtors in connection with obtaining authority to obtain debtor-in-possession financing, authority to use cash collateral, and other post-petition financing as may be necessary or appropriate; (k) at the request of the Debtors and Hogan Lovells, taking necessary and appropriate action on behalf of the Debtors in connection with a Chapter 11 plan, disclosure statement, and all related documents, and any such further action as may be required or advisable in connection with the confirmation and implementation of a Chapter 11 plan; (l) at the request of the Debtors and Hogan Lovells, taking necessary and appropriate action on behalf of the Debtors in connection with obtaining authority to sell all or substantially all of the Debtors' assets; (m) performing all other necessary, non-duplicative legal services as assigned to Thompson Coburn by the Debtors and Hogan Lovells, to the extent Thompson Coburn determines that any services assigned to it fall outside the scope of the above-enumerated scope of services, Thompson Coburn will file a supplemental declaration pursuant to Bankruptcy Rule 2014(a); and (n) appearing before the Court and any appellate courts to represent the interests of the Debtors' estates. Thompson Coburn's hourly rates are: Partners $650 to $1,380 Counsel and Associate $425 to $775 Paralegals $365 to $415 Thompson Coburn received a total of $50,000 as a retainer. Thompson Coburn is a "disinterested person" within the meaning of Bankruptcy Code section 101(14), according to court filings. The firm can be reached through: Katharine Battaia Clark, Esq. Alexandra E. Rossetti, Esq. THOMPSON COBURN LLP 2100 Ross Avenue, Suite 3200 Dallas, TX 75201 Tel: (972) 629-7100 Fax: (972) 629-7171 Email: kclark@thompsoncoburn.com Email: arossetti@thompsoncoburn.com 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. WISER SOLUTIONS: Taps S. Avila and D. Harer of Paladin as Co-CRO ---------------------------------------------------------------- Wiser Solutions, Inc. and its affiliates seek approval from the U.S. Bankruptcy Court for the Northern District of Texas to employ Paladin Management Group, LLC to provide Scott Avila and Donald Harer as co-chief restructuring officers. The firm's services include: a. preparing a Schedule of Assets and Liabilities, a Statement of Financial Affairs, Monthly Operating Reports, and other filings that may be appropriate or required in connection with the Bankruptcy Case; b. making available the Co-CROs or Additional Staff for hearings, testimony, and any litigation matters in connection with these Chapter 11 Cases; c. assisting with any sale of substantially all or a portion of the Debtor's assets pursuant to section 363 of the Bankruptcy Code, including support and coordination of the sale process, review and negotiation of stalking horse and other bid documents, management of due diligence and auction, satisfaction of closing conditions, negotiation and oversight of transition services agreements, and post-sale wind-down and estate administration activities; d. assisting in preparing and updating liquidity projections, payment prioritization, and vendor rationalization; e. if required, assisting in preparing a Key Employee Incentive Plan or a Key Employee Retention Plan; f. assisting with any negotiations and other interactions with the Debtor's stakeholders and their respective advisors in connection with the Bankruptcy Case; g. assisting with the preparation of financial forecasts and reports that may be required by the Debtor's board of directors, lenders, and stakeholders; h. assisting with strategic communications and negotiations with the Debtor's lenders, significant vendors, and other stakeholders; and i. providing such further advice and support that are conducive to the above or as the parties otherwise agree. The current standard hourly rates of Paladin's professionals range from $485 to $895. The Co-CRO's rates will be $895 and $765 per hour for Scott Avila and Don Harer, respectively. Paladin Management Group, LLC is a "disinterested person" within the meaning of 11 U.S.C. Sec. 101(14). The firm can be reached through: Scott Avila Don Harer Paladin Management Group, LLC 633 W. 5th Street, 26th Floor Los Angeles, CA 90071 Phone: (310) 753-1324 Email: savila@paladinmgmt.com dharer@paladinmgmt.com 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. XANDRIA HOLDINGS: Seeks Approval to Tap Blake P. Fine as Appraiser ------------------------------------------------------------------ Xandria Holdings, LLC seeks approval from the U.S. Bankruptcy Court for the Southern District of Florida to employ Blake Fine, a professional located in Marietta, Ga., as an appraiser. The firm will render these services: (a) advise the Debtor with respect to its real estate financial condition and duties; (b) advise the Debtor with respect to present value, market opportunities and market conditions of its real property; (c) prepare an appraisal of the Debtor's real property; and (d) assist counsel in protecting the interests of the Debtor. Mr. Fine 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 firm can be reached through: Blake P. Fine 2764 Barnhille Drive Marietta, GA 30062 Telephone: (404) 759-6868 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. XCEL BRANDS: Raises $15,650 via White Lion Equity Facility ---------------------------------------------------------- Xcel Brands, Inc. announced in a regulatory filing that from May 20, 2026 through May 22, 2026, the Company made the following purchases under the terms and conditions of its common stock purchase agreement with White Lion Capital LLC: * On May 20, 2026, the Company sold 2,500 shares at an average 3 lowest trades price of $1.98 per share for a purchase price of $4,950. * On May 22, 2026, the Company sold 5,000 shares at an average 3 lowest trades price of $2.14 per share for a purchase price of $10,700. As of May 22, 2026, the accumulated amount of proceeds and shares sold under the Purchase Agreement were $15,650 and 7,500, respectively. As previously reported, January 21, 2026, the Company entered into the Purchase Agreement and a registration rights agreement with the Investor, pursuant to which the Investor has committed to purchase up to $15.0 million of the Company's common stock, par value $0.001 per share, subject to certain limitations and satisfaction of the conditions set forth in the Purchase Agreement. About Xcel Brands New York, N.Y.-based Xcel Brands, Inc. is a media and consumer products company engaged in the design, licensing, marketing, live streaming, and social commerce sales of branded apparel, footwear, accessories, fine jewelry, home goods and other consumer products, and the acquisition of dynamic consumer lifestyle brands. Xcel was founded in 2011 with a vision to reimagine shopping, entertainment, and social media as social commerce. Wolf & Company, P.C., the Company's independent registered public accounting firm for the fiscal year ended December 31, 2025, has included an explanatory paragraph in their opinion that accompanies the Company's audited consolidated financial statements as of and for the year ended December 31, 2025, indicating the Company has a significant working capital deficiency, has incurred significantlosses 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 March 31, 2026, the Company had $36.4 million in total assets, $23.2 million in total liabilities, and $13.2 million in total stockholders' equity. [] Cohn & Dussi Expands Collections and Legal Support Into Canada ----------------------------------------------------------------- Cohn & Dussi, LLC, a full-service law firm headquartered in Boston with a growing national practice, has expanded its collections and legal support capabilities into Canada through a formalized relationship supporting clients with Canadian collections and related legal matters. The expansion strengthens the firm's ability to support financial institutions, equipment leasing and finance companies, alternative lenders, factors, servicers, and other commercial creditors with matters involving collections, collateral recovery, bankruptcy, and related legal matters in all 50 U.S. states and Canada. The move reflects growing demand from clients operating across U.S. and Canadian jurisdictions, particularly in industries where collateral, equipment, borrowers, or guarantors may cross borders during the life of a transaction. "Many of our clients operate nationally and increasingly face matters involving Canada," said Lewis J. Cohn. "Formalizing our Canadian capabilities strengthens our ability to support clients with collections and related legal matters across jurisdictions while continuing to deliver the responsiveness, efficiency, and value-driven service our clients expect from us." The expanded capabilities include support for: * Commercial collections * Collateral recovery * Bankruptcy matters * Commercial litigation * Related creditor matters "We continued hearing from clients looking for a more established and coordinated solution for Canadian matters," said Robert J. Hanna, Director of National Sales & Marketing at Cohn & Dussi. "As more companies operate across both the U.S. and Canada, clients want a streamlined process that can help them navigate collections and related matters across jurisdictions. They also want to capitalize on our ability to support alternative fee arrangements such as contingency fee and flat fee options – not just the hourly approach." Cohn & Dussi, LLC represents banks, alternative lenders, and equipment finance and leasing companies across a growing national footprint throughout the United States and North America. Learn more at cohnanddussi.com. About Cohn & Dussi Cohn & Dussi is a full-service law firm with offices in Boston, Mass., and Boca Raton, Fla., that offers clients comprehensive, customized solutions to their complex business challenges. Attorneys in the firm offer extensive experience in collections and workouts, creditors' rights, commercial litigation, leasing, bankruptcy, corporate and finance law, construction law, and real estate transactions. Over the course of more than 30 years, Cohn & Dussi has built long-term relationships with its clients, solving problems using a team approach and leveraging a national network of attorneys in all 50 states, and now Canada. Learn more at cohnanddussi.com. MEDIA CONTACT: Lisa Lazarczyk LAZ PR Tel: (617) 838-7327 lisa@lazpr.com ********* 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. Point your Web browser to http://TCRresources.bankrupt.com/and use the e-mail address to which your TCR is delivered to login. ********* S U B S C R I P T I O N I N F O R M A T I O N Troubled Company Reporter is a daily newsletter co-published by Bankruptcy Creditors Service, Inc., Fairless Hills, Pennsylvania, USA, and Beard Group, Inc., Philadelphia, Pa., USA. Randy Antoni, Jhonas Dampog, Marites Claro, Joy Agravante, Rousel Elaine Tumanda, Joel Anthony G. Lopez, Psyche A. Castillon, Ivy B. Magdadaro, Carlo Fernandez, Christopher G. Patalinghug, and Peter A. Chapman, Editors. Copyright 2026. All rights reserved. ISSN: 1520-9474. 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