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260610.mbx T R O U B L E D C O M P A N Y R E P O R T E R Wednesday, June 10, 2026, Vol. 30, No. 161 Headlines 2280 FDB LLC: Hires Ariel Property Advisors as Real Estate Broker 2280 FDB LLC: Hires Charles Wertman P.C. as Counsel 4US CORP: Court Extends Cash Collateral Access to June 26 8311 PRESTON: Unsecured Creditors to Split $50K in Plan 97 & 99 PROSPECT: Taps Gleichenhaus Marchese & Weishaar as Counsel A&G GENERAL: L. Todd Budgen Named Subchapter V Trustee AHT TRANSPORT: Case Summary & 13 Unsecured Creditors AI TITAN: Golub Capital Marks $473,000 Loan at 20% Off ALFASPIRE INC: Seeks to Hire CAVA Law LLC as Bankruptcy Counsel AM LOGISTICS: Gets Interim OK to Use Cash Collateral AMERICAN LANGUAGE: Hires Barry I. Hechtman CPA PA as Accountant AMERIMED EMERGENCY: Case Summary & 20 Largest Unsecured Creditors ANY HOUR: Golub Capital Marks $3.4M Loan at 24% Off APPLE TREE: Mediation Not Appropriate in Rigmora et al. Appeal APPLE TREE: Rigmora et al. Appeal Can't Proceed to Mediation ASCEND ELEMENTS: Comm. Taps McDermott Will & Schulte as Counsel ASCEND ELEMENTS: Committee Taps Province LLC as Financial Advisor ATBIZ LLC: Unsecured Creditors to Split $300K over 3 Years ATW HEALTH: Seeks to Use Cash Collateral Access B&R ENGINEERING: Seeks to Hire Lorium Law as Bankruptcy Counsel BASIC WHOLESALE: Deborah Fish Named Subchapter V Trustee BASIC WHOLESALE: Seeks to Hire George E. Jacobs as Attorney BECKY'S PET: Angela Shortall Named Subchapter V Trustee BECKY'S PET: Hires McNamee Hosea P.A. as Bankruptcy Counsel BELLA HOLDING: Moody's Rates New Bank Credit Facilities 'B3' BEYOND AIR: Panel Grants Listing Extension; Compliance by July 31 BLACK SHEEP: Hires Revel CPA as Tax Return Preparer BLESS YOUR HEART: Gets Interim OK to Use Cash Collateral BLESS YOUR HEART: Todd Headden Named Subchapter V Trustee BONIFAS ENTERPRISES: Unsecureds Will Get 3.9% over 3 Years BRAZAS CHICKEN: Seeks to Hire Latham Luna as Bankruptcy Counsel BRIGHT HORIZONS: Moody's Rates New Secured 1st Lien Term Loan 'Ba3' BRIGHTVIEW LANDSCAPES: S&P Rates New First-Lien Term Loan B 'B+' BRODY HOLDINGS: Seeks to Hire Stumbo Hanson LLP as Legal Counsel CAMP MONTE: Case Summary & Three Unsecured Creditors CAREISMATIC BRANDS: Wins Bid to Dismiss Patient to Person's Case CARLA'S PASTA: Taps Judge Joan N. Feeney and JAMS as Mediator CDK GLOBAL: S&P Alters Outlook to Negative, Affirms 'B-' ICR CELINA TOTAL: Hires Lane Law Firm PLLC as Bankruptcy Counsel CHASE INTERMEDIATE: Golub Capital Marks $595,000 Loan at 29% Off CHS/COMMUNITY HEALTH: Divests Four Arkansas Hospitals in $110M Deal COLOSSUS ACQUIRECO: S&P Affirms 'BB+' Rating on Term Loan Add-On CONSTRUCTION PARTNERS:S&P Rates New $989MM Upsized Term Loan 'BB-' CORSAIR BLADE: Golub Capital Marks $1.1M Loan at 52% Off COSWMP LTD: Gets Interim OK to Use Cash Collateral CRAFT CONSTRUCTION: Taps Edelboim Lieberman/Shelomith as Co-Counsel CRAFTEDWILD INC: Case Summary & 14 Unsecured Creditors CREEKSIDE SPRINGS: Seeks to Hire United Food & Beverage as Broker CRONLY BLUFFS: Ciara Rogers Named Subchapter V Trustee CYTTA CORP: Sadler Gibb Dismissed; RBSM LLP Named as New Auditor DANLERIE FREIGHT: Hires Tang & Associates as Bankruptcy Counsel DE'NSITE INC: Hires Modestas Law Offices as Bankruptcy Counsel EAST WEST MANUFACTURING: S&P Affirms 'B-' ICR, Outlook Stable ECHOSTAR CORP: Skips Interest Payment Pending AT&T Deal Closing EDMUNDSON INC: Plan Exclusivity Period Extended to July 17 ELITE EQUIPMENT: Taps Jeff Martin Auctioneers Inc as Auctioneer EMMA BUYER: S&P Assigns 'B' Rating on Acquisitions of Emerald EMPIRE FACILITY: Unsecureds Will Get 100% over 3 Years ERC TOPCO: Golub Capital Marks $8MM Loan at 20% Off FAIR ISAAC: S&P Affirms 'BB+' Issuer Credit Rating, Outlook Stable FLUOR CORP: S&P Affirms 'BB+' ICR on Sound Financial Flexibility FPG INTERMEDIATE: Golub Capital Marks $1.9M Loan at 20% Off FREIGHT TECHNOLOGIES: Fetch Compute Exits Beneficial Ownership FRESHREALM INC: Hires Cole Schotz P.C. as Bankruptcy Counsel FRESHREALM INC: Hires Rothschild & Co as Investment Banker GATES ENTERPRISES: Has Deal on Cash Collateral Dispute GENERIC MANUFACTURING: Gets Final OK to Use Cash Collateral GENESIS HEALTHCARE: Court Tosses Brown et al. Interlocutory Appeal GLACIER CAR: Seeks to Hire Harbor LLC as Accountant GLENS FALLS: Hires Realize Broker LLC as Real Estate Broker GLOBAL PARTNERS: S&P Upgrades ICR to 'BB-' on Strong EBITDA GOLDENPEAKS POLAND: Seeks to Tap Kroll as Claims and Noticing Agent GRACE LIMOUSINE: Reaches Settlement with BankProv; Amends Plan GREAT CIRCLE: Claims Will be Paid from Property Sale/Refinance HARLING INC: Court Extends Cash Collateral Access to June 18 HAWAII BREWERY: Hires Bosko Petricevic AAL as Litigation Counsel HAWAII BREWERY: Taps Klein Law Group as Special Litigation Counsel HAYWARD INDUSTRIES: S&P Assigns 'BB' Rating on 1st-Lien Term Loan HEALTHCARE FOR ALL: Seeks to Hire Spence Law Office as Counsel HPC MOTORSPORTS: Hires Lane Law Firm PLLC as Bankruptcy Counsel HRONIS INC: Committee Hires Dundon Advisers as Financial Advisor I-HOMES LLC: Seeks to Hire Schrader Group as Real Estate Broker INDEPENDENT MEDEQUIP: Hires Sencer Appraisal as Appraiser INHANCE PARENT: Golub Capital Marks $11.6M Loan at 55% Off INNOVATE CORP: Broadcasting Unit to Merge With HC2 in Capital Deal INTEGRATED PROTEINS: Affiliate Seeks Cash Collateral Access JETBLUE AIRWAYS: S&P Lowers ICR to 'CCC+' on Elevated Fuel Costs JFY PROPERTIES: Gets Court OK to Use Cash Collateral Until June 30 JMK5 MALL: Case Summary & Four Unsecured Creditors K&M JACKSON: Seeks Approval to Tap Exceed Realty as Estate Broker KALAMAZOO CANDLE: Hires CBH Attorneys & Counselors PLLC as Counsel KALAMAZOO CANDLE: Hires Wesler & Associates CPA PC as Accountant KBK PROPERTY: Case Summary & Four Unsecured Creditors KDC AGRIBUSINESS: Court Won't Remand Suit v Foley & Lardner LA GEOTHERMAL: Hires Trak Financial as Tax Return Preparer LAKE EFFECT: Court Extends Cash Collateral Access to Aug. 12 LATTICE SEMICONDUCTOR: S&P Affirms 'BB' ICR on Acquisition Of AMI LENMAR ROBERTSON: Hires Thomas B. Ure as Bankruptcy Counsel LIA HOSPITALITY: Trustee Seeks to Tap Rubin & Levin as Counsel LIVECARE INC: Case Summary & 20 Largest Unsecured Creditors LRS HOLDINGS: S&P Raises ICR to 'B' on Profitable Organic Growth LSF12 BADGER: Moody's Upgrades CFR to B2, Outlook Stable LURIN REAL: Hires Cushman & Wakefield of as Real Estate Broker M&L EXPRESS: Taps Law Office of Tap David E. Cahn as Counsel MAPF HOLDINGS: Golub Capital Marks $3MM Loan at 29% Off MENORAH CAMPUS: Trustee Hires Zdarsky Sawicki as Counsel MERCER INTERNATIONAL: All Three Proposals Passed at Annual Meeting MILE HIGH: Court OKs Deal on Cash Collateral Access MILLER'S CONTRACTING: Hires Demetrius J. Parrish Jr. as Attorney MILLIKIN UNIVERSITY: S&P Rates 2026A-B Revenue Bonds 'BB+' MOTORO CARS: Automatic Stay Applicable to Commercial Lease MOUNTAIN REGIONAL: Court Extends Cash Collateral Access to June 30 MY GEORGIA: Seeks to Hire H&R Block as Enrolled Agent NATHAN SPENCER: Unsecureds Will Get 4.18% over 60 Months NATIONAL ASSOCIATION: Trustee Taps Elluma Discovery as Consultant NBG ACQUISITION: Golub Capital Marks $346,000 Loan at 18% Off NEW HOPE: Seeks to Hire Century 21 as Real Estate Broker NEW HOPE: Seeks to Hire Dudley Auctions Inc. as Auctioneer NEW JERSEY ECONOMIC: Moody's Ups Rating on 2015A Rev. Bonds to Ba3 NIED OWNERSHIP: Taps J. Luzinski of Development Specialists as CRO NO RUST: Court Affirms Substantive Consolidation Order NORTH HAVEN: Golub Capital BDC Marks $4.2MM Loan at 20% Off NORTH SHORE: Has Deal on Cash Collateral Access OFFICE PROPERTIES: Plan Exclusivity Period Extended to July 14 OLD RICHMOND: Case Summary & Four Unsecured Creditors OPTIMUM COMMUNICATIONS: Executes Major Restructuring Transactions OPTIMUM COMMUNICATIONS: S&P Lowers ICR to 'CCC', Outlook Negative PHAIR COMPANY: Hires Mazzarella Law APC as Litigation Counsel PHOENIX FUND: Seeks to Extend Plan Exclusivity to Sept. 21 PHOENIX PRIDE: Dawn Maguire Named Subchapter V Trustee PHOENIX PRIDE: Hires Davis Miles PLLC as Bankruptcy Counsel PLASMA BUYER: Golub Capital Marks $8.5MM Loan at 40% Off PLURI INC: Continues Talks on EIB Loan Maturity PNW PIZZA: Seek to Hire Neeleman Law Group P.C. as Legal Counsel PRECISION MANUFACTURING: Taps CBH Attorneys as Bankruptcy Counsel QUANTUM HEALTH: S&P Upgrades ICR to 'B', Outlook Stable QXO INC: Moody's Affirms 'Ba3' CFR, Outlook Stable RAILHEAD INC: Seeks to Hire Renee M. DuBiel CPA as Accountant RALIAM HOSPITALITY: Trustee Taps Rubin & Levin as Counsel RICHFIELD NURSING: Claims to be Paid from Asset Sale Proceeds RICHLAND 3914: Richard Maxwell Named Subchapter V Trustee ROSA COPLON: Hires Zdarsky Sawicki & Agostinelli as Counsel RQM+ CORP: SCP Private Credit Marks $17M Loan at 20% Off RQM+ CORP: SLR HC BDC Marks $4.3M Loan at 20% Off RW AM HOLDCO: Golub Capital Marks $23.6M Loan at 56% Off S & H SYSTEMS: Seeks to Hire Wooley Auctioneers Inc. as Auctioneer SCREEN REPAIR: Hires William G. Haeberle CPA as Accountant SHERIFA ENTERPRISES: Gets Interim OK to Use Cash Collateral SMOKIN OAKS: Gets Interim OK to Use Cash Collateral Until July 3 SPEYSIDE HOLDINGS: Hires Hilco Real Estate as Real Estate Agent STUDIO CHIQUE: Seeks to Hire Mia Taylor Advisors as Accountant STUDIO CHIQUE: Seeks to Use Cash Collateral SUIRAD GROUP: Hires Jones Lang LaSalle as Real Estate Broker SUPERIOR INDUSTRIES: S&P Withdraws 'CCC-' Issuer Credit Rating SYLVESTER & TARA MCINTOSH: Court Enforces Garnishment Writ SYSTEM1 INC: Enters Into Comprehensive Debt Exchange Agreement TEANECK SURGICAL: Mark Politan Named Subchapter V Trustee TEXAS SOLIDS: Seeks to Tap Villa & White LLP as Bankruptcy Counsel TRASK RADIO: Hires BJC Advisors LLC as Financial Advisor TRINSEO PLC: Enters Into OpCo and Super-Holdco DIP Facilities UG PROPERTIES: Hires Blue Bee Bankruptcy Law as Local Counsel UTAH CHARTER: S&P Lowers 2015/2018 Bonds Ratings to 'BB+' VITAL PHARMACEUTICALS: Putative Class Proof of Claim Disallowed W/L PROPERTIES: Hires J&S Property Management as Property Manager WELLPATH HOLDINGS: Court Approves Stipulation Subtituting Defendant WEST SEATTLE: Taps Scordato Law PLLC as Bankruptcy Counsel WHIRLPOOL CORP: Moody's Cuts Rating on Sr. Unsecured Notes to B2 WINEBOW HOLDINGS: Golub Capital Marks $9.2M Loan at 16% Off WINESHIPPING.COM LLC: Golub Capital Marks $11.1M Loan at 28% Off WINESHIPPING.COM LLC: Golub Capital Marks $301,000 Loan at 28% Off ********* 2280 FDB LLC: Hires Ariel Property Advisors as Real Estate Broker ----------------------------------------------------------------- 2280 FDB LLC seeks approval from the U.S. Bankruptcy Court for the Eastern District of New York to employ Ariel Property Advisors as real estate broker. The firm will market and sell the property located at 2280 Frederick Douglass Boulevard, New York, NY 10027-5329. The firm will be paid at 3.5% of the gross sales price. As disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Shimon Shkury Ariel Property Advisors LLC 122 East 42nd Street, Suite 2405 New York, NY 10168 Tel: (212) 544-9500 Fax: (212) 544-9501 About 2280 FDB LLC 2280 FDB LLC owns the property at 2280 Frederick Douglass Boulevard, New York, New York, including units RET and CFU, with an estimated value of $3.3 million. The Company operates in the real estate sector, managing commercial and residential property in New York City. 2280 FDB LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.Y. Case No. 25-44773) on September 30, 2025. In its petition, the Debtor reports total assets of $3,300,125 and total liabilities of $3,129,090. The Debtor is represented by Charles Wertman, Esq. of LAW OFFICES OF CHARLES WERTMAN P.C. 2280 FDB LLC: Hires Charles Wertman P.C. as Counsel --------------------------------------------------- 2280 FDB LLC seeks approval from the U.S. Bankruptcy Court for the Eastern District of New York to employ Charles Wertman P.C. as counsel. The firm's services include: a. providing legal advice with respect to the Debtor's powers and duties as debtor-in-possession in accordance with the provisions of the Bankruptcy Code; b. preparing, on behalf of the Debtor, all necessary schedules, applications, motions, answers, orders, reports, adversary proceedings and other legal documents required by the Bankruptcy Code and Federal Rules of Bankruptcy Procedure; c. assisting the Debtor in the development and implementation of a plan of reorganization or liquidation, including the proposed sale of the Property; d. performing all other legal services for the Debtor that may be necessary in connection with this Chapter 11 case and the Debtor's attempts to reorganize its affairs under the Bankruptcy Code. The firm will be paid at these rates: Charles Wertman, Esq. $525 per hour Para-professionals $150 per hour The firm was paid a total amount of $10,000, of which the sum of $1,738.00 is the filing fee required by the Court. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Mr. Wertman, 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 at: Charles Wertman, Esq. Law Offices of Charles Wertman P.C 100 Merrick Road, Suite 304W Rockville Centre, NY 11570 Telephone: (516) 284-0900 Email: charles@cwertmanlaw.com About 2280 FDB LLC 2280 FDB LLC owns the property at 2280 Frederick Douglass Boulevard, New York, New York, including units RET and CFU, with an estimated value of $3.3 million. The Company operates in the real estate sector, managing commercial and residential property in New York City. 2280 FDB LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.Y. Case No. 25-44773) on September 30, 2025. In its petition, the Debtor reports total assets of $3,300,125 and total liabilities of $3,129,090. The Debtor is represented by Charles Wertman, Esq. of LAW OFFICES OF CHARLES WERTMAN P.C. 4US CORP: Court Extends Cash Collateral Access to June 26 --------------------------------------------------------- The U.S. Bankruptcy Court for the Northern District of Illinois, Eastern Division issued a fifth interim order authorizing 4 US Corp, Inc. to use cash collateral to fund ordinary business operations. Under the fifth interim order, the Debtor is authorized to use assets considered cash collateral, including $1,000 in a checking account at Bank of America and $50,000 in accounts receivable. These assets can be used only to pay necessary operating expenses and only within the limits of a court-approved budget. The order places restrictions on how the collateral can be used. Any spending that exceeds a budgeted line item by more than 5% requires prior written approval from the U.S. Small Business Administration or additional authorization from the court. The Debtor is also required to maintain insurance coverage on its property and assets to protect the collateral while it is being used during the bankruptcy process. The authorization to use the cash collateral is temporary and will expire on June 26 unless the court extends it. A status hearing regarding the Debtor's continued use of cash collateral is scheduled for June 23. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/aXnu6 from PacerMonitor.com. About 4US Corp Inc. 4US Corp, Inc. operates as a transportation and logistics company, providing freight hauling services through ownership of commercial trucks and trailers, including Freightliner trucks and Wabash, Dorsey, Mac, Fontaine, Hyundai, and Eagle trailers. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 26-01936) on February 2, 2026. In the petition signed by Eli Malikovsky, president, the Debtor disclosed $3,118,000 in total assets and $9,253,165 in total liabilities. Judge Timothy A. Barnes oversees the case. David Freydin, Esq., at the Law Offices of David Freydin, represents the Debtor as bankruptcy counsel. 8311 PRESTON: Unsecured Creditors to Split $50K in Plan ------------------------------------------------------- 8311 Preston Highway LR, LLC filed with the U.S. Bankruptcy Court for the Middle District of Tennessee a Combined Plan of Reorganization and Disclosure Statement dated May 28, 2026. The Debtor is a limited liability company that owns commercial real property commonly known as 8311 Preston Highway, Louisville, Kentucky 40219, together with related improvements, rents, leases, and proceeds thereof. The Debtor's principal asset is the commercial real property located at 8311 Preston Highway, Louisville, Kentucky 40219 (the "Property"). The Debtor's business operations consist primarily of ownership, maintenance, leasing, and operation of the Property. The Debtor filed this Chapter 11 case to restructure obligations associated with the Property, address the asserted secured claim of Regions Bank, preserve the value of the Property, and determine the appropriate value and treatment of secured claims under Section506 and Bankruptcy Rule 3012. The Debtor contends that the value of the Property is $2,975,000.00, consistent with the appraisal prepared by Bell Ferris dated April 30, 2026 (the "Bell Ferris Appraisal"). For purposes of this Plan, the "Bell Ferris Appraised Value" means $2,975,000.00. Through this Plan, the confirmation process, and the continuation of this case thereafter, the Debtor intends to determine and pay Regions' allowed secured claim based on the value of the Property as determined by the Court, pay allowed administrative and priority claims, and provide treatment for allowed unsecured claims in a manner consistent with the Bankruptcy Code. The Debtor further proposes that, if the Court determines that the value of the Property exceeds 105% of the Bell Ferris Appraised Value, then the Property shall be sold pursuant to Section 363 of the Bankruptcy Code, with Regions receiving the net sale proceeds up to the amount necessary to satisfy its allowed secured claim as more specifically set forth herein. The Debtor's overall goal is to obtain confirmation of the Plan, preserve and operate the Property if the valuation supports reorganization, or sell the Property under Section 363 if the value exceeds the sale-trigger threshold established by this Plan. The principal treatment under the Plan concerns the allowed secured claim of Regions. The Debtor proposes to pay Regions' allowed secured claim in an amount consistent with the Bell Ferris Appraised Value, with interest at 7.50% per annum, amortized monthly over 15 years. Class 3 consists of All Allowed Unsecured Claims. A pool of $50,000.00 (the "Unsecured Pool") shall be paid pro-rata to the claimholders in this class. The Unsecured Pool shall be satisfied through payments paid pro-rata to the claimholders in this class on or before June 30, 2029. If Regions makes or asserts a Section 1111(b) Election for its Class 2 claim, the Debtor reserves the right to modify the Plan, including the timing, amount, or source of distributions to Class 3, as necessary or appropriate to address the developments in claim allowance, valuation, sale alternatives, creditor elections, or other requirements for confirmation. Class 4 shall consist of the membership interests in the Debtor. The existing membership interests in the Debtor shall be retained by the current equity holders. The Plan shall be funded from rents, income generated by the Property, available cash, capital contributions, refinancing proceeds, sale proceeds, or such other funds as may be available to the Debtor. A full-text copy of the Combined Plan and Disclosure Statement dated May 28, 2026 is available at https://urlcurt.com/u?l=Sj6TgO from PacerMonitor.com at no charge. Counsel to the Debtor: R. Alex Payne, Esq. DUNHAM HILDEBRAND PAYNE WALDRON, PLLC 9020 Overlook Blvd, Ste 316 Brentwood, TN 37027 Phone: (629) 777-6539 Email: alex@dhnashville.com About 8311 Preston Highway LR LLC 8311 Preston Highway LR, LLC, is a Delaware limited liability company that owns commercial real property located at 8311 Preston Highway in Louisville, Kentucky. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Tenn. Case No. 26-00886) on February 27, 2026. In the petition signed by Clifford F. Boyle, member, the Debtor disclosed up to $10 million in both assets and liabilities. Judge Randal S. Mashburn oversees the case. R. Alex Payne, at Dunham Hildebrand Payne Waldron, PLLC, is the Debtor's legal counsel. 97 & 99 PROSPECT: Taps Gleichenhaus Marchese & Weishaar as Counsel ------------------------------------------------------------------ 97 & 99 Prospect LLC seeks approval from the U.S. Bankruptcy Court for the Western District of New York to hire Gleichenhaus, Marchese & Weishaar, PC as general counsel. The firm will render these services: (a) give Debtor legal advice with respect to its powers and duties as Debtor in possession in the continued operation of its business and in the management of its assets; (b) take necessary action to avoid liens against Debtor's property, remove restraints against Debtor's property and such other actions to remove any encumbrances of liens which are avoidable, which were placed against the property of the Debtor prior to the filing of the Petition instituting this proceeding and at a time when the Debtor was insolvent; (c) take necessary action to enjoin and stay until final decree any attempts by secured creditors to enforce liens upon property of the Debtor in which property Debtor has substantial equity; (d) represent the Debtor in possession in any proceedings which may be instituted in this Court by creditors or other parties during the course of this proceeding; (e) prepare on behalf of your Applicant, as Debtor in possession, necessary petitions, answers, orders, reports, and other legal papers; and, (f) perform all other legal services for the Debtor as Debtor in possession, or to employ attorneys for such services. Prior to filing, GMW received $20,000, of which $1,738 was used to pay the Court filing fee, $5,000 represented pre-petition consulting fees, and, as of the Filing, GMW held a net retainer in the amount of $13,262. The firm will charge its customary hourly rates. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Michael Weishaar, Esq., a partner at Gleichenhaus, Marchese & Weishaar, PC, 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: Michael A. Weishaar, Esq. Gleichenhaus, Marchese & Weishaar, PC 43 Court Street, Suite 930 Buffalo, NY 14202 Tel: (716) 846-6446 About 97 & 99 Prospect LLC 97 & 99 Prospect, LLC filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. W.D.N.Y. Case No. 26-10658) on May 22, 2026, with $500,001 to $1 million in assets and $100,001 to $500,000 in liabilities. Judge Carl L. Bucki presides over the case. Robert B. Gleichenhaus, Esq., at Gleichenhaus, Marchese & Weishaar, P.C. represents the Debtor as legal counsel. A&G GENERAL: L. Todd Budgen Named Subchapter V Trustee ------------------------------------------------------ The Acting U.S. Trustee for Region 21 appointed L. Todd Budgen, Esq., a practicing attorney in Longwood, Fla., as Subchapter V trustee for A&G General Services USA, LLC. Mr. Budgen 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. Budgen declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: L. Todd Budgen, Esq. P.O. Box 520546 Longwood, FL 32752 Tel: (407) 232-9118 Email: Todd@C11Trustee.com About A&G General Services USA LLC A&G General Services USA, LLC filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. M.D. Fla. Case No. 26-03909) on May 27, 2026, with $50,001 to $100,000 in assets and $100,001 to $500,000 in liabilities. Judge Grace E. Robson presides over the case. Jeffrey Ainsworth, Esq. at Bransonlaw, PLLC represents the Debtor as bankruptcy counsel. AHT TRANSPORT: Case Summary & 13 Unsecured Creditors ---------------------------------------------------- Debtor: AHT Transport LLC 2079 Industrial Road Galva, KS 67443 Business Description: AHT Transport LLC is a Galva, Kansas-based for-hire interstate freight carrier that operates trucks and trailers transporting general freight, machinery, grain, dry bulk commodities and motor vehicles. Chapter 11 Petition Date: June 2, 2026 Court: United States Bankruptcy Court District of Kansas Case No.: 26-10613 Judge: Hon. Mitchell L Herren Debtor's Counsel: January M. Bailey, Esq. PRELLE ERON & BAILEY, P.A. 301 N Main St Ste 2000 Wichita KS 67202-4820 Tel: (316) 262-5500 E-mail: january@eronlaw.net Total Assets: $1,071,046 Total Liabilities: $2,619,169 The petition was signed by Stephanie Unruh as managing member. A full-text copy of the petition, which includes a list of the Debtor's 13 unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/V4ZDJUQ/AHT_Transport_LLC__ksbke-26-10613__0001.0.pdf?mcid=tGE4TAMA AI TITAN: Golub Capital Marks $473,000 Loan at 20% Off ------------------------------------------------------ Golub Capital BDC, Inc. has marked its $473,000 loan extended to AI Titan Parent, Inc. to market at $378,000 or 80% of the outstanding amount, according to Golub Capital BDC's 10-Q for the fiscal year ended March 31, 2026, filed with the U.S. Securities and Exchange Commission. Golub Capital BDC, Inc. is a participant in a one stop loan extended to AI Titan Parent, Inc. The loan accrues interest at a rate of SF + 4.50 % (i) 8.17 % per annum. The loan matures on August 2031. Golub Capital BDC, Inc. is a business development company that provides financing solutions to middle-market companies. The Fund is led by David B. Golub as Chief Executive Officer (Principal Executive Officer) and Christopher C. Ericson as Chief Financial Officer (Principal Accounting and Financial Officer). The Fund can be reached at: David B. Golub Golub Capital BDC, Inc. 200 Park Avenue, 25th Floor New York, NY 10166 Telephone: (212) 750-6060 About AI Titan Parent, Inc. AI Titan Parent, Inc. is a one-stop artificial intelligence platform company providing integrated AI technologies and services to enterprise clients. ALFASPIRE INC: Seeks to Hire CAVA Law LLC as Bankruptcy Counsel --------------------------------------------------------------- Alfaspire, Inc. seeks approval from the U.S. Bankruptcy Court for the Southern District of Florida to hire the law firm of CAVA Law, LLC as counsel. The firm will render these services: (a) advise the Debtor with respect to its powers and duties in the continued management of its affairs; (b) advise the Debtor with respect to its responsibilities in complying with the U.S. Trustee's Operating Guidelines and Reporting Requirements and with the rules of the court; (c) prepare legal documents necessary in the administration of the case; (d) protect the interests of the Debtor and the estate in all matters pending before the court; and (e) represent the Debtor in negotiations with its creditors in the preparation of a plan. The firm will be paid at these hourly rates: Senior Attorney I $450 Senior Attorney II $650 Associate Attorney $350 Paralegal $175 Assistants/Secretaries $100 In addition, the firm will seek reimbursement for expenses incurred. The firm received a retainer of $15,000 from the Debtor. Christina Vilaboa-Abel, Esq., an attorney at CAVA Law, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Christina Vilaboa-Abel, Esq. CAVA Law, LLC 1390 South Dixie Highway, Suite 1110 Coral Gables, FL 33146 Telephone: (786) 675-6830 Facsimile: (786) 384-6909 About Alfaspire Inc. Alfaspire, Inc. filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. S.D. Fla. Case No. 26-16267) on May 14, 2026, with $100,001 to $500,000 in assets and $1 million to $10 million in liabilities. Judge Corali Lopez-Castro presides over the case. Christina Vilaboa-Abel, Esq., represents the Debtor as legal counsel. AM LOGISTICS: Gets Interim OK to Use Cash Collateral ---------------------------------------------------- AM Logistics, Inc. received interim approval from the U.S. Bankruptcy Court for the Southern District of Indiana, Indianapolis Division, to use cash collateral. Under the interim order, the Debtor is authorized to use cash collateral to fund operations based on an approved budget until a final hearing is held. The Debtor's expenditures in any budget category must not exceed the budgeted amount by more than 10%, and its net cash flow must remain at least 90% of the projected amount. The Debtor said it needs approximately $109,000 in cash collateral, which primarily consists of cash, accounts receivable, and inventory=, during the interim period. Financial institutions and third-party payors are directed to release funds that constitute cash collateral. Huntington Bank is the Debtor's primary secured lender. Several merchant cash advance lenders are also creditors but their claims are less clearly identified through UCC filings. As adequate protection, secured creditors will be granted replacement liens on the Debtor's post-petition assets, with the same priority and extent as their pre-petition interests. The court did not make any determination regarding the validity, extent, priority, or perfection of the creditors' liens, preserving all parties' rights to challenge those issues later in the case. Events of default that could terminate the Debtor's authority to use cash collateral, include failure to comply with the budget, unauthorized payments, appointment of a trustee, or conversion or dismissal of the Debtor's bankruptcy case. The order is available at http://bankrupt.com/misc/AMLogistics_ICCOrder.pdf The court scheduled a final hearing for June 18 and set a June 16 deadline for filing objections. AM Logistics provides logistics services including warehousing, regional delivery, and specialized transport, and employs 16 full-time staff. The Debtor reported financial strain following a costly warehouse relocation and reliance on high-interest short-term lenders. Its pre-petition assets include about $338,000 in receivables and $30,000 in cash. About AM Logistics Inc. AM Logistics, Inc., a logistics service provider, sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Ind. Case No. 26-03372) on May 27, 2026, with up to $500,000 in assets and up to $1 million in liabilities. Andrew Manville, president of AM Logistics, signed the petition. Judge Jeffrey J. Graham oversees the case. KC Cohen, Esq., at KC Cohen, Lawyer, PC, represents the Debtor as bankruptcy counsel. AMERICAN LANGUAGE: Hires Barry I. Hechtman CPA PA as Accountant --------------------------------------------------------------- The American Language Kollege, Inc., doing business as Talk International, seeks approval from the U.S. Bankruptcy Court for the Southern District of Florida to employ Barry I. Hechtman, CPA, PA as its accountant and tax professional. The firm will render these services: (a) review the balance sheet of the Debtor as of December 31, 2025, and the related statements of income, retained earnings, and cash flows for the fiscal year then ended, in accordance with applicable standards referenced in the Engagement Agreement; (b) make inquiries of company personnel and perform analytical procedures in connection with the review engagement, and request and obtain an appropriate client representation letter from the Debtor; (c) provide consultation to the Debtor's chief accountant on accounting matters as may be required in adjusting and closing the Debtor's books of account and in drafting financial statements for review; (d) review the detailed trial balance and supporting schedules provided by the Debtor's chief accountant; (e) prepare the Debtor's consolidated federal income tax return and applicable Florida, Georgia, Massachusetts, and California income tax returns for the fiscal year ended December 31, 2025; (f) consult with the Debtor and the Debtor's bankruptcy counsel throughout the engagement as necessary; and (g) perform such other related accounting or tax services as may be requested by the Debtor or ordered by the Court, subject to further Court approval to the extent required. Hechtman's initial estimate of total fees for the services is $15,000. Hechtman requires a retainer in the amount of $3,000. Barry I. Hechtman, CPA, PA is "disinterested person" is defined in Section 101(14) of the Bankruptcy Code, according to court filings. The firm can be reached through: Barry I. Hechtman, CPA Barry I. Hechtman, CPA, PA 8100 SW 81st Dr Miami, FL 33143 Phone: (305) 270-0014 ext. 102 About The American Language Kollege Inc. The American Language Kollege, Inc. runs an education business providing English language and professional development programs to international students. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 26-13936) on March 30, 2026. In the petition signed by Desmond Levin, president, the Debtor disclosed up to $10 million in both assets and liabilities. The Debtor tapped Morgan B. Edelboim, Esq., at Edelboim Lieberman PLLC as counsel and Newpoint Advisors Corporation as financial advisor. AMERIMED EMERGENCY: Case Summary & 20 Largest Unsecured Creditors ----------------------------------------------------------------- Lead Debtor: Amerimed Emergency Medical Services LLC 4908 Golden Pkwy, Suite 100 Buford, GA 30518 Business Description: Amerimed provides emergent and non-emergent medical transportation services, including emergency, non-emergency, critical care, behavioral health, and psychiatric patient transport. The company also provides emergency medical personnel services for special events. Amerimed is family owned and operated and is headquartered in Buford, Georgia, with operations in Georgia, Tennessee, South Carolina, Indiana, Ohio, and Florida. Chapter 11 Petition Date: June 2, 2026 Court: United States Bankruptcy Court Northern District of Georgia Two affiliates that concurrently filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code: Debtor Case No. ------ -------- Amerimed Emergency Medical Services LLC (Lead) 26-20894 DMLP, LLC 26-20879 Debtors' Counsel: Charles Kelley, Esq. KELLEY LAW LLC 100 Main St SW Gainesville, GA 30501 Tel: (678) 567-6120 E-mail: charles@charleskelley.law - and - Benjamin S. Klehr, Esq. Anna M. Humnicky, Esq. Gus H. Small, Esq. SMALL HERRIN, LLP 100 Galleria Parkway, Suite 350 Atlanta, GA 30339 Tel: 770-783-1800 E-mail: bklehr@smallherrin.com ahumnicky@smallherrin.com gsmall@smallherrin.com Amerimed Emergency's Estimated Assets: $1 million to $10 million Amerimed Emergency's Estimated Liabilities: $10 million to $50 million DMLP, LLC's Total Assets: $1,571,300 DMLP, LLC's Total Liabilities: $898,000 The petitions were signed by Arthur Dixon Marlow II as sole member. Full-text copies of the petitions, which include lists of the Debtors' 20 largest unsecured creditors, are available for free on PacerMonitor at: https://www.pacermonitor.com/view/3JS3MIQ/Amerimed_Emergency_Medical_Services__ganbke-26-20894__0001.0.pdf?mcid=tGE4TAMA https://www.pacermonitor.com/view/LULMEDA/DMLP_LLC__ganbke-26-20879__0001.0.pdf?mcid=tGE4TAMA ANY HOUR: Golub Capital Marks $3.4M Loan at 24% Off --------------------------------------------------- Golub Capital BDC Inc. has marked its $3,493,000 loan extended to Any Hour, LLC to market at $2,655,000 or 76% of the outstanding amount, according to Golub Capital BDC's 10-Q for the fiscal year ended March 31, 2026, filed with the U.S. Securities and Exchange Commission. Golub Capital BDC Inc. is a participant in a one stop loan extended to Any Hour, LLC. The Loan accrues interest at a rate of 13.00% PIK per annum. The Loan matures on May 2031. Golub Capital BDC, Inc. is a business development company that provides financing solutions to middle-market companies. The Fund is led by David B. Golub as Chief Executive Officer (Principal Executive Officer) and Christopher C. Ericson as Chief Financial Officer (Principal Accounting and Financial Officer). The Fund can be reached at: David B. Golub Golub Capital BDC, Inc. 200 Park Avenue, 25th Floor New York, NY 10166 Telephone: (212) 750-6060 About Any Hour Any Hour is a one-stop service provider, likely offering a range of home or commercial maintenance and repair solutions. APPLE TREE: Mediation Not Appropriate in Rigmora et al. Appeal -------------------------------------------------------------- Magistrate Judge Christopher J. Burke of the United States District Court for the District of Delaware determined that mediation is not appropriate in the appeal styled RIGMORA BIOTECH INVESTOR ONE LP and RIGMORA BIOTECH INVESTOR TWO LP, Appellants, v. APPLE TREE LIFE SCIENCES, INC., ATP LIFE SCIENCE VENTURES LP, ATP III GP, LTD., APERTOR PHARMACEUTICALS, INC., INITIAL THERAPUETICS, INC., MARLINSPIKE THERAPEUTICS, INC., RED QUEEN THERAPEUTICS, INC., EVERCRISP BIOSCIENCES, INC., NINE SQUARE THERAPEUTICS, INC., NEREID THERAPEUTICS, INC. and THE OFFICIAL COMMITTEE OF UNSECURED CREDITORS, Appellees, Case No. 26-cv-00495-JLH (D. Del.) pursuant to Section 1 of the Procedures to Govern Mediation of Appeals from the United States Bankruptcy Court for the District of Delaware, dated July 19, 2023. Rigmora Biotech Investor One LP and Rigmora Biotech Investor Two LP, appeal from the Bankruptcy Court's Order Denying Amended Motion to Dismiss entered on April 14, 2026. The parties jointly agree that their disputes in this matter cannot be resolved through mediation in this Court and the Court agrees. The Court recommends that the assigned District Judge issue an order withdrawing the matter from mediation and setting the following appellate briefing schedule (agreed to by the parties): 1. Appellants' Opening Brief shall be filed on June 29, 2026. 2. Appellees' Answering Brief shall be filed July 29, 2026. 3. Appellants' Reply Brief shall be filed August 12, 2026. A copy of the Court's Order dated June 2, 2026, is available at http://urlcurt.com/u?l=wesZhJfrom PacerMonitor.com. About Apple Tree Life Sciences Apple Tree Life Sciences, Inc., legally known as Apple Tree Life Sciences, Inc., is a life sciences venture capital firm that forms and invests in healthcare and biotechnology companies from early stage concepts through public market offerings. The firm provides flexible capital and works with venture partners and entrepreneurs-in-residence to develop research-driven enterprises in the therapeutics sector. Its activities span company creation at stages ranging from pre -intellectual-property ideas to asset spinouts. Apple Tree Life Sciences, Inc. and affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Lead Case No. 25-12177) on Dec. 9, 2025. In its petition, the Debtor reports estimated liabilities between $1 billion and $10 billion estimated liabilities between $100,000 and $500,000. Bankruptcy Judge Laurie Selber Silverstein handles the case. The Debtors' General Bankruptcy Co-Counsel is POTTER ANDERSON & CORROON LLP. The Debtors' General Bankruptcy Co-Counsel is QUINN EMANUEL URQUHART & SULLIVAN, LLP. The Debtors' Financial & Restructuring Advisor is B. RILEY. The Debtors' Cayman Law Counsel is WALKERS. APPLE TREE: Rigmora et al. Appeal Can't Proceed to Mediation ------------------------------------------------------------ Magistrate Judge Christopher J. Burke of the United States District Court for the District of Delaware determined that mediation is not appropriate in the appeal styled RIGMORA BIOTECH INVESTOR ONE LP and RIGMORA BIOTECH INVESTOR TWO LP, Appellants, v. APPLE TREE LIFE SCIENCES, INC., ATP LIFE SCIENCE VENTURES LP, ATP III GP, LTD., APERTOR PHARMACEUTICALS, INC., INITIAL THERAPUETICS, INC., MARLINSPIKE THERAPEUTICS, INC., RED QUEEN THERAPEUTICS, INC., EVERCRISP BIOSCIENCES, INC., NINE SQUARE THERAPEUTICS, INC., and NEREID THERAPEUTICS, INC., Appellees, Case No. 26-cv-00543-JLH (D. Del.) pursuant to Section 1 of the Procedures to Govern Mediation of Appeals from the United States Bankruptcy Court for the District of Delaware, dated July 19, 2023. Rigmora Biotech Investor One LP and Rigmora Biotech Investor Two LP, appeal from the Bankruptcy Court's Order (I) Authorizing Use of Funds to (A) Fund Portfolio Companies, (B) Pay Management Company Expenses and (C) Pay Chapter 11 Expenses, and (II) Granting Related Relief entered on April 24, 2026. The parties jointly agree that their disputes in this matter cannot be resolved through mediation in this Court and the Court agrees. The Court recommends that the assigned District Judge issue an order withdrawing the matter from mediation and setting the following appellate briefing schedule (agreed to by the parties): 1. Appellants' Opening Brief shall be filed on June 29, 2026. 2. Appellees' Answering Brief shall be filed July 29, 2026. 3. Appellants' Reply Brief shall be filed August 12, 2026. A copy of the Court's Order dated June 2, 2026, is available at http://urlcurt.com/u?l=iiv35qfrom PacerMonitor.com. About Apple Tree Life Sciences Apple Tree Life Sciences, Inc., legally known as Apple Tree Life Sciences, Inc., is a life sciences venture capital firm that forms and invests in healthcare and biotechnology companies from early stage concepts through public market offerings. The firm provides flexible capital and works with venture partners and entrepreneurs-in-residence to develop research-driven enterprises in the therapeutics sector. Its activities span company creation at stages ranging from pre -intellectual-property ideas to asset spinouts. Apple Tree Life Sciences, Inc. and affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Lead Case No. 25-12177) on Dec. 9, 2025. In its petition, the Debtor reports estimated liabilities between $1 billion and $10 billion estimated liabilities between $100,000 and $500,000. Bankruptcy Judge Laurie Selber Silverstein handles the case. The Debtors' General Bankruptcy Co-Counsel is POTTER ANDERSON & CORROON LLP. The Debtors' General Bankruptcy Co-Counsel is QUINN EMANUEL URQUHART & SULLIVAN, LLP. The Debtors' Financial & Restructuring Advisor is B. RILEY. The Debtors' Cayman Law Counsel is WALKERS. ASCEND ELEMENTS: Comm. Taps McDermott Will & Schulte as Counsel --------------------------------------------------------------- The official committee of unsecured creditors of Ascend Elements, Inc. and affiliates seeks approval from the U.S. Bankruptcy Court for the Southern District of Texas to employ McDermott Will & Schulte LLP as its counsel. The firm will render these services: a) advise the Committee with respect to its rights, powers, and duties in the Chapter 11 Cases; b) participate in in-person and telephonic meetings of the Committee and subcommittees formed thereby, if any; c) assist and advise the Committee in its meetings and negotiations with the Debtors and other parties in interest regarding the Chapter 11 Cases; d) assist the Committee in analyzing claims asserted against, and interests in, the Debtors, and in negotiating with the holders of such claims and interests and bringing, or participating in, objections or estimation proceedings with respect to such claims and interests; e) assist the Committee in analyzing the Debtors' assets and liabilities, including in its review of the Debtors' Schedules of Assets and Liabilities, Statements of Financial Affairs, and other reports prepared by the Debtors, investigating the extent and validity of liens and participating in and reviewing any proposed transfer, sale, or disposition of the Debtors' assets, financing arrangements, and cash collateral stipulations or proceedings; f) assist the Committee in its investigation of the acts, conduct, assets, liabilities, management, and financial condition of the Debtors, the Debtors' historic and ongoing operations of their businesses, and the desirability of the continuation of any portion of those operations, and any other matters relevant to the Chapter 11 Cases; g) assist the Committee in its analysis of, and negotiations with the Debtors or any third party related to, financing, asset disposition transactions, and compromises of controversies, reviewing and determining the Debtors' rights and obligations under leases and executory contracts, and assisting, advising, and representing the Committee in any manner relevant to the assumption and rejection of executory contracts and unexpired leases; h) assist the Committee in its analysis of, and negotiations with, the Debtors or any third party related to, the formulation, confirmation, and implementation of a chapter 11 plan(s) and all documentation related thereto (including the disclosure statement); i) assist, advise, and represent the Committee in understanding its powers and duties under the Bankruptcy Code and the Bankruptcy Rules and in performing other services as are in the interests of those represented by the Committee; j) assist and advise the Committee with respect to communications with the general creditor body regarding significant matters in the Chapter 11 Cases; k) respond to inquiries from individual creditors as to the status of, and developments in the Chapter 11 Cases; l) represent the Committee at hearings and other proceedings before the Court and other courts or tribunals, as appropriate; m) review and analyze complaints, motions, applications, orders, and other pleadings filed with the Court, and advise the Committee with respect to formulating positions with respect, and filing responses, thereto; n) assist the Committee in its review and analysis of, and negotiations with the Debtors and their non-Debtor affiliates related to intercompany claims and transactions; o) review and analyze third-party analyses and reports prepared in connection with the Debtors' potential claims and causes of action, advise the Committee with respect to formulating positions thereon, and perform such other diligence and independent analysis as may be requested by the Committee; p) advise the Committee with respect to applicable federal and state regulatory issues, as such issues may arise in the Chapter 11 Cases; q) assist the Committee in preparing pleadings and applications, and pursuing or participating in adversary proceedings, contested matters, and administrative proceedings as may be necessary or appropriate in furtherance of the Committee's duties; r) take all necessary or appropriate actions as may be required in connection with the administration of the Debtors' estates, including with respect to a chapter 11 plan and related disclosure statement; and s) perform such other legal services as may be necessary or as may be requested by the Committee in accordance with the Committee's powers and duties as set forth in the Bankruptcy Code. The firm's 2026 standard hour rates are: Partners/Counsel $1,700 to $2,795 Associates $1,125 to $1,595 Non-Lawyer Professionals $325 to $1,465 The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. The following is provided in response to the request for additional information set forth in Paragraph D.1 of the Appendix B Guidelines. (a) McDermott has not agreed to variations from, or alternatives to, its standard or customary billing arrangements for this engagement; (b) none of McDermott's professionals included in this engagement have varied their rates based on the geographic location of the Chapter 11 Cases; (c) McDermott did not represent the Committee before the Petition Date; and (d) McDermott expects to develop a budget and staffing plan to comply with the U.S. Trustee's requests for information and additional disclosures, and any orders of the Court. Recognizing that unforeseeable fees and expenses may arise in large chapter 11 cases, McDermott may need to amend the budget as necessary to reflect changed circumstances or unanticipated developments. Charles Gibbs, Esq., a partner at McDermott Will & Schulte LLP, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Charles R. Gibbs, Esq. MCDERMOTT WILL & SCHULTE LLP 2801 North Harwood Street, Suite 2600 Dallas, TX 75201 Tel: (214) 295-8000 Fax: (972) 232-3098 Email: crgibbs@mcdermottlaw.com About Ascend Elements, Inc. Ascend Elements is an advanced manufacturing and recycling company dedicated to producing sustainable lithium-ion battery materials. Founded in 2015, the company operates from its headquarters in Westborough, Massachusetts, and serves the growing electric vehicle supply chain. Ascend Elements sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 26-90440) on April 9, 2026. In its petition, the Debtor reports estimated assets between $1 million and $10 million and estimated liabilities between $500,000 and $1 million. Honorable Bankruptcy Judge Christopher M. Lopez handles the case. The Debtor is represented by Ryan E. Manns, Esq., of Norton Rose Fulbright US LLP. ASCEND ELEMENTS: Committee Taps Province LLC as Financial Advisor ----------------------------------------------------------------- The official committee of unsecured creditors of Ascend Elements, Inc. and affiliates seeks approval from the U.S. Bankruptcy Court for the Southern District of Texas to employ Province, LLC as its financial advisor. The firm's services include: a. becoming familiar with and analyzing the Debtors' DIP/Cash Collateral budget, assets and liabilities, and overall financial condition; b. reviewing financial and operational information furnished by the Debtors; c. monitoring the sale process, interfacing with the Debtors' professionals, and advising the Committee regarding the process; d. scrutinizing the economic terms of various agreements, including, but not limited to, various professional retentions; e. analyzing the Debtors' proposed business plans and developing alternative scenarios, if necessary; f. assessing the Debtors' various pleadings and proposed treatment of unsecured creditor claims therefrom; g. preparing, or reviewing as applicable, avoidance action and claim analyses; h. assisting the Committee in reviewing the Debtors' financial reports, including, but not limited to, statements of financial affairs, schedules of assets and liabilities, DIP/Cash Collateral budgets, and monthly operating reports; i. advising the Committee on the current state of these chapter 11 cases; j. advising the Committee in negotiations with the Debtors and third parties as necessary; k. if necessary, participating as a witness in hearings before the Court with respect to matters upon which Province has provided advice; and l. providing other activities as are approved by the Committee, the Committee's counsel, and as agreed to by Province. Province's current standard hourly rates are: Managing Directors and Partners $900 to $1,600 Vice Presidents, Directors, and Senior Directors $700 to $1,050 Analysts, Associates, and Senior Associates $370 to $750 Paraprofessional/Admin /Interns $270 to $380 As disclosed in the court filings, Province, LLC is a "disinterested persons" within the meaning of section 101(14), as modified by section 1107(b) of the Bankruptcy Code. The firm can be reached through: Sanjuro Kietlinski Province, LLC 2360 Corporate Circle, Suite 340 Henderson, NV 89074 Phone: (702) 685-5555 About Ascend Elements, Inc. Ascend Elements is an advanced manufacturing and recycling company dedicated to producing sustainable lithium-ion battery materials. Founded in 2015, the company operates from its headquarters in Westborough, Massachusetts, and serves the growing electric vehicle supply chain. Ascend Elements sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 26-90440) on April 9, 2026. In its petition, the Debtor reports estimated assets between $1 million and $10 million and estimated liabilities between $500,000 and $1 million. Honorable Bankruptcy Judge Christopher M. Lopez handles the case. The Debtor is represented by Ryan E. Manns, Esq., of Norton Rose Fulbright US LLP. ATBIZ LLC: Unsecured Creditors to Split $300K over 3 Years ---------------------------------------------------------- ATBIZ LLC filed with the U.S. Bankruptcy Court for the Southern District of Florida a Plan of Reorganization for Small Business dated May 28, 2026. The Debtor is a family-owned international distribution and trading company established in June 2017, headquartered in Weston, Florida, dedicated to wholesale distribution of consumer appliances, electronics, and general merchandise primarily for international customers in the Caribbean. The company is managed by its principals, Eligio Rodriguez and Giovanni Ramos, who have extensive experience in international trade, wholesale distribution, sourcing, logistics, inventory management, and customer development within the consumer products industry. During the years leading up to the Chapter 11 filing, the company experienced a combination of financial and operational factors that impacted liquidity and cash flow, specifically non-payment of over 50% of accounts receivable (the customer owing the largest receivable filed for Chapter 11 relief), increased importation and logistics costs, the imposition of substantially increased tariff related expenses, and tightening supplier credit terms within the distribution industry. Despite these challenges, management continued operating the business and actively worked to preserve commercial relationships, protect the operational value of the company, and maintain continuity of operations. The business has continued operating post-petition and continues servicing customers and maintaining active commercial operations. The Plan Proponent's financial projections show that the Debtor will have projected disposable income for three years after confirmation in the amount of approximately $300,000.00. The total unsecured debt in this case is approximately $600,000.00. The Debtor is proposing to pay unsecured creditors $300,000.00 over the course of the Plan. The Plan contemplates quarterly payments from cash flow of future business of $25,000.00 commencing October 1, 2026, to allowed unsecured creditors pro rata. Distributions will be made on the following dates: October 1, 2026; January 1, 2027; April 1, 2027; July 1, 2027; October 1, 2027; January 1, 2028; April 1, 2028; July 1, 2028; October 1, 2028; January 1, 2029; April 1, 2029; and July 1, 2029. The final Plan payment is expected to be paid on July 1, 2029. Equity Interests shall receive no distribution, but shall retain their interests. The Plan is funded by (a) ongoing cash flow operations of the business; and (b) by the Debtor's ability to refinance and/or obtain investors in the business. If the Debtor is able to refinance and/or monetize equity, 85% or more of such funds will be devoted to retiring the Secured Debt (Class 1), and if funds remain, they will be devoted to accelerating the payments to Unsecured Creditors (Class 2). A full-text copy of the Plan of Reorganization dated May 28, 2026 is available at https://urlcurt.com/u?l=SRHiIZ from PacerMonitor.com at no charge. Counsel to the Debtor: Geoffrey S. Aaronson, Esq. Aaronson Schantz Beiley PA One Biscayne Tower, Suite 3450 2 South Biscayne Boulevard Miami, FL 33131 Telephone: (786) 594-3000 Facsimile: (305) 424-9336 Email: gaaronson@aspalaw.com About ATBIZ LLC ATBIZ LLC is a Miami, Florida-based wholesale distributor and exporter of appliances, consumer electronics, furniture, and related products, serving retailers, importers, and distributors across the United States, the Caribbean, Central America, and South America. The company offers a catalog of products including TVs, audio equipment, small and large home appliances, health and beauty items, commercial appliances, and furniture. It also provides OEM and private-label manufacturing services, handling product design, quality control, and logistics for business clients. ATBIZ LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 26-12500) on Feb. 27, 2026. In the petition signed by Giovanni Ramos, manager, the Debtor disclosed up to $50,000 in assets and up to $10 million in liabilities. Geoffrey S. Aaronson, at Aaronson Schantz Beiley PA, is the Debtor's counsel. ATW HEALTH: Seeks to Use Cash Collateral Access ----------------------------------------------- ATW Health Solutions Inc. asks the U.S. Bankruptcy Court for the Northern District of Illinois, Eastern Division, for authority to use cash collateral and provide adequate protection. The Debtor's bankruptcy filing was triggered by enforcement action from Unique Funding Solutions LLC, which had previously obtained a judgment and garnishment lien based on a receivables purchase agreement executed in 2025. The Debtor also owes significant secured obligations to the Small Business Administration (EIDL loan of approximately $420,400) and BayFirst/Banesco under two separate loans totaling roughly $426,819 combined. These creditors—including Unique, the SBA, and BayFirst entities—assert security interests in substantially all of the Debtor's cash, bank accounts, and accounts receivable through UCC filings. As of the petition date, the Debtor held approximately $50,935 in cash across accounts at JP Morgan Chase, Bank of America, and Wintrust, along with $130,928 in accounts receivable. The Debtor explains that these funds constitute cash collateral and are essential to ongoing operations. ATW argues that without immediate access to these funds, it will be unable to meet basic operating expenses such as payroll for its nine employees, insurance, utilities, subcontractors, and other ordinary business costs, which would cause irreparable harm and undermine any chance of reorganization. The Debtor proposes to use cash collateral strictly in accordance with a budget and asserts that doing so will preserve the going-concern value of the business and protect creditor interests. As adequate protection, ATW offers replacement liens in post-petition assets to the extent of existing pre-petition liens, along with access to collateral information upon request. The Debtor also requests flexibility to exceed budgeted expenses by up to 10% with consent or court approval, and anticipates submitting revised budgets if necessary. A copy of the motion is available at https://urlcurt.com/u?l=aOSj1s from PacerMonitor.com. About ATW Health Solutions Inc. ATW Health Solutions Inc., based in Chicago, Illinois, is a healthcare consulting and advisory firm providing performance improvement, patient safety, and health systems transformation services. Founded in 2014, the company works with government agencies, healthcare systems, and public health organizations to support data-driven improvements in care quality and outcomes. Certified as a Woman-Owned Small Business, it participates in federal contracting programs focused on public health and healthcare system implementation. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 26-06364) on April 12, 2026, with $50,000 to $100,000 in assets and $1 million to $10 million in liabilities. Knitasha Washington, president, signed the petition. Judge Deborah L. Thorne presides over the case. Joseph Wrobel, Esq., at Joseph Wrobel, Ltd. represents the Debtor as legal counsel. B&R ENGINEERING: Seeks to Hire Lorium Law as Bankruptcy Counsel --------------------------------------------------------------- B&R Engineering Corporation seeks approval from the U.S. Bankruptcy Court for the Southern District of Florida to hire Lorium Law as bankruptcy counsel. The firm will provide these services: (a) give advice to the Debtor with respect to its powers and duties as a debtor in possession under Chapter 11 and the continued management of its business operations; (b) advise the Debtor with respect to its responsibilities in complying with the U.S. Trustee's Operating Guidelines and Reporting Requirements and with the rules of the Court; (c) prepare and/or defend motions, pleadings, orders, applications, adversary proceedings, and other legal documents necessary in the administration of the case; (d) protect the interest of the Debtor in all matters pending before the Court; and (e) represent the Debtor in negotiation with its creditors in the preparation of a plan and confirmation of same. The firm will be paid at these rates: Attorneys $300 to $675 per hour Paralegals $75 to $200 per hour The firm will be paid a retainer of $22,158, inclusive of $1,738. Lorium Law 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 at: Robert F. Reynolds, Esq. LORIUM LAW 197 South Federal Highway, Suite 200 Boca Raton, FL 33432 Telephone: (561) 361-1000 E-mail: jgrant@loriumlaw.com About B&R Engineering Corporation B&R Engineering Corporation filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. S.D. Fla. Case No. 26-16436) on May 18, 2026, with $1 million to $10 million in assets and $500,001 to $1 million in liabilities. Robert F. Reynolds, Esq. represents the Debtor as legal counsel. BASIC WHOLESALE: Deborah Fish Named Subchapter V Trustee -------------------------------------------------------- The U.S. Trustee for Regions 3 and 9 appointed Deborah Fish, Esq., managing partner at Allard & Fish, P.C., as Subchapter V trustee for Basic Wholesale Floral Distributors, LLC. Ms. Fish 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. Fish declared that she is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Deborah L. Fish, Esq. Allard & Fish, P.C. 1001 Woodward Ave., Ste. 850 Detroit, MI 48226 Phone: (313) 961-6141 Email: dfish@allardfishpc.com About Basic Wholesale Floral Distributors Basic Wholesale Floral Distributors, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Mich. Case No. 26-46055) on May 27, 2026, with $100,001 to $500,000 in both assets and liabilities. Judge Lisa S. Gretchko presides over the case. George E. Jacobs, Esq. at Bankruptcy Law Offices represents the Debtor as bankruptcy counsel. BASIC WHOLESALE: Seeks to Hire George E. Jacobs as Attorney ----------------------------------------------------------- Basic Wholesale Floral Distributors, LLC seeks approval from the U.S. Bankruptcy Court for the Eastern District of Michigan to hire George E. Jacobs, a professional practicing law in Michigan, as attorney. The firm will provide these services: a. give the corporation legal advice with respect to its rights and duties in connection with this Chapter 11 proceeding; and b. perform all other legal services which may be necessary. The firm will be paid at these rates: George E. Jacobs $350 per hour The firm will be paid a retainer in the amount of $10,000. In addition, the firm will seek reimbursement for its out-of-pocket expenses. Mr. Jacobs, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: George E. Jacobs, Esq. 2425 S. Linden Rd., Ste. C Flint, MI 48532 Telephone: (810) 720-4333 Email: george@bklawoffice.com About Basic Wholesale Floral Basic Wholesale Floral Distributors, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Mich. Case No. 26-46055) on May 27, 2026, with $100,001 to $500,000 in both assets and liabilities. Judge Mark A. Randon presides over the case. Kurt Thornbladh, Esq., at Thornbladh Legal Group, PLLC represents the Debtor as bankruptcy counsel. BECKY'S PET: Angela Shortall Named Subchapter V Trustee ------------------------------------------------------- The Acting U.S. Trustee for Region 4 appointed Angela Shortall of Cubed Advisory Services, LLC as Subchapter V trustee for Becky's Pet Care, Inc. Ms. Shortall will be paid an hourly fee of $525 for her services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Ms. Shortall declared that she is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Angela L. Shortall 3Cubed Advisory Services, LLC 111 S. Calvert St., Suite 1400 Baltimore, MD 21202 Phone: 410-783-6385 About Becky's Pet Care Inc. Becky's Pet Care, Inc. provides pet care services in Springfield, Virginia. Founded in 1998, Becky's Pet Care offers services including dog walking, cat sitting, pet care visits, medical support, enrichment programs, walk-and-train services, and pet CPR and first aid. It serves pets and pet owners in the Northern Virginia area. Becky's Pet Care sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Va. Case No. 26-11295) on May 28, 2026, with up to $50,000 in assets and $1 million to $10 million in liabilities. Justin Fasano, Esq., at Mcnamee Hosea, P.A. represents the Debtor as legal counsel. BECKY'S PET: Hires McNamee Hosea P.A. as Bankruptcy Counsel ----------------------------------------------------------- Becky's Pet Care, Inc. seeks approval from the U.S. Bankruptcy Court for the Eastern District of Virginia to hire McNamee Hosea, P.A. as counsel. The firm will provide these services: (a) provide the Debtor legal advice with respect to its powers and duties and in the operation of its business and management of its property; (b) prepare any necessary legal papers and appear on the Debtor's behalf in proceedings instituted by or against it; (c) assist the Debtor in the confirmation of a plan; (d) assist the Debtor with other legal matters related to its reorganization; and (e) perform all of the legal services for the Debtor that may be necessary or desirable. The firm will be paid at these rates: Craig M. Palik $450 per hour Janet M. Nesse $575 per hour Justin P. Fasano $450 per hour Associates $300 to $400 per hour Paralegal $140 per hour McNamee Hosea was provided a retainer of $26,378. Justin P. Fasano 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: Justin P. Fasano, Esq. McNamee Hosea, PA 6404 Ivy Lane, Suite 820 Greenbelt, MD 20770 Telephone: (301) 441-2420 Facsimile: (301) 982-9450 Email: jfasano@mhlawyers.com About Becky's Pet Care, Inc. Becky's Pet Care, Inc. filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. E.D. Va. Case No. 26-11295) on May 28, 2026, listing up to $50,000 in assets and $1,000,001 to $10 million in liabilities. Justin Fasano, Esq. at Mcnamee Hosea, P.A. presides over the case. BELLA HOLDING: Moody's Rates New Bank Credit Facilities 'B3' ------------------------------------------------------------ Moody's Ratings assigned B3 ratings to Bella Holding Co, LLC's ("MedRisk") new credit facilities, including a $1,950 million senior secured first lien term due in 2033 and $200 million senior secured first lien revolving credit facility expiring 2031. There are no changes to MedRisk's existing ratings, including the B3 corporate family rating, B3-PD probability of default rating (PDR), and B3 ratings on the senior secured first lien bank credit facilities due 2028. Ratings on the existing senior secured first lien credit facilities due 2028 will be withdrawn at the close of the refinancing transaction. The outlook remains unchanged at positive. On June 1, 2026, MedRisk announced a refinancing transaction that extends all debt maturities in a leveraging transaction. Proceeds from the new $1,950 million senior secured first lien term loan and cash on balance sheet will be used to fully repay the existing senior secured first lien term loan due 2028 and fund a $486 million distribution to shareholders. Moody's expects Moody's debt-to-EBITDA to increase by approximately 1.5x to 7.3x at March 31, 2026, pro forma the refinancing and shareholder distribution. While the transaction is leveraging, Moody's expects continued strong earnings growth and for debt-to-EBITDA to decline toward 6.0x over the next 12 to 18 months. RATINGS RATIONALE The B3 CFR reflects MedRisk's elevated financial leverage, which stood at approximately 7.3x pro forma the refinancing and shareholder distribution, as well as the company's aggressive financial policies, including its history of debt-funded acquisitions and a dividend recapitalization. Moody's expects MedRisk to continue pursuing acquisitions over time, which introduces integration and execution risks. The rating is further constrained by meaningful customer concentration, with the company's three largest customers expected to continue generating approximately half of total revenue. The rating is supported by MedRisk's strong value proposition to payor clients and network providers, reflecting its expansion beyond network solutions into payment integrity in 2024 and, more recently, payments. Moody's expects cross-selling opportunities to drive healthy organic growth and continued deleveraging, with debt-to-EBITDA declining toward 6.0x over the next 12 to 18 months, absent additional debt-funded acquisitions or dividends. The rating also benefits from the company's national footprint with only moderate geographic concentration, as well as its very strong liquidity profile, underpinned by consistent positive free cash flow generation. Moody's expects MedRisk to maintain very good liquidity over the next 12-18 months, supported by Moody's expectations for consistent positive free cash flow. MedRisk had $110 million of cash as of March 31, 2026 and $33 million pro forma the recapitalization, and full availability under its upsized $200 million revolving credit facility. The revolving credit facility has a springing total net leverage ratio set at 8.25x, when borrowings exceed 35%. Moody's expects the company will maintain good headroom on the covenant – net leverage calculated under the credit agreement definition was 5.8x as of March 31, 2026, pro forma the recapitalization. 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 $330 million and 100% of Consolidated EBITDA, plus unlimited amounts subject to pro forma first lien net leverage of 5.90x (or leverage does not increase if incurred in connection with a permitted acquisition or investment). There is an inside maturity sublimit up to the greater of $330 million and 100% of EBITDA. A "blocker" provision restricts the transfer of material intellectual property to unrestricted subsidiaries. There are no protective provisions restricting an up-tiering transaction. Amounts up to 100% of unused capacity from restricted payments capacity may be reallocated to incur debt. The positive outlook reflects the potential for an upgrade if the company resumes its deleveraging trajectory and there are no unforeseen operational or integration challenges. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS MedRisk's rating could be upgraded if the company reduces its customer concentration or expands its scale materially. Quantitatively, the rating could be upgraded if debt to EBITDA is sustained below 6.0x with liquidity remaining very good. Ratings could be downgraded if operating performance weakens, free cash flow becomes negative or liquidity tightens with EBITA-to-interest falling below 1.0x. Founded in 1994, MedRisk manages workers compensation claims for physical therapy, occupational therapy and chiropractic services and provides payments and payment integrity services to the workers compensation industry. The company's customers include insurance carriers, third-party administrators (TPAs), self-insured employers and government entities. MedRisk is among the largest platforms in the workers' compensation network services industry. The company is majority-owned by CVC Capital Partners and by the Carlyle Group. The company generated approximately $1.3 billion in gross revenue for the twelve months ending March 31, 2026. The principal methodology used in these ratings was Business and Consumer Services published in February 2026. BEYOND AIR: Panel Grants Listing Extension; Compliance by July 31 ----------------------------------------------------------------- Beyond Air, Inc. announced in a regulatory filing that it received a decision letter from the Nasdaq Hearings Panel granting the Company's request for continued listing on The Nasdaq Stock Market LLC, subject to certain conditions. The Panel's decision was issued following a hearing held on May 14, 2026, at which the Company presented its compliance plan to address its non-compliance with Nasdaq Listing Rule 5550(a)(2). Pursuant to the Panel's decision, the Company must demonstrate compliance with the Bid Price Rule on or before July 31, 2026. The Company is fully compliant with all other continued listing requirements. "We appreciate the Panel's thoughtful review and support of our compliance plan," said Robert Goodman, Chief Executive Officer of Beyond Air. "This decision provides us with the time needed to complete the steps necessary to regain compliance while we remain focused on advancing our commercial execution and progressing our next-generation portable nitric oxide platform." As previously disclosed, Beyond Air's shareholders will vote on a proposal authorizing a reverse stock split at the Company's special meeting of stockholders on June 18, 2026. If approved, the Company expects to implement the reverse stock split at a ratio deemed appropriate by its Board of Directors to facilitate regaining compliance with the Nasdaq bid price requirement. In addition, pursuant to Nasdaq Listing Rule 5815(d)(4)(A), the Company will be subject to a Discretionary Panel Monitor for a period of one year from the date the Company regains compliance with the Bid Price Rule. If the Panel or Nasdaq's Listing Qualifications Department determines that the Company fails any listing standard during the one-year monitoring period, then the Company will not be permitted to provide a plan of compliance with respect to any deficiency that arises during the one-year monitoring period. Rather, the Listing Qualifications Department will promptly issue a written determination to delist the Company's securities. If the Company does not request review of the Staff Delisting Determination then the Company's common stock will be suspended as described in the Staff Delisting Determination. About Beyond Air Headquartered in Garden City, N.Y., Beyond Air, Inc. -- www.beyondair.net -- is a commercial-stage medical device and biopharmaceutical company developing a platform of nitric oxide generators and delivery systems (the "LungFit platform") capable of generating NO from ambient air. The Company's first device, LungFitPH, received premarket approval from the FDA in June 2022. The NO generated by the LungFit PH system is indicated to improve oxygenation and reduce the need for extracorporeal membrane oxygenation in term and near term (34 weeks gestation) neonates with hypoxic respiratory failure associated with clinical or echocardiographic evidence of pulmonary hypertension in conjunction with ventilatory support and other appropriate agents. East Hanover, New Jersey-based Marcum LLP, the Company's auditor since 2024, issued a "going concern" qualification in its report dated June 20, 2025, attached to the Company's Annual Report on Form 10-K for the fiscal year ended March 31, 2025, citing that the Company has suffered recurring losses from operations, has experienced negative cash flows from operating activities since inception, and has an accumulated deficit, that raise substantial doubt about its ability to continue as a going concern. As of December 31, 2025, the Company had $36.8 million in total assets, against $28.5 million in total liabilities. BLACK SHEEP: Hires Revel CPA as Tax Return Preparer --------------------------------------------------- The Black Sheep, Inc. seeks approval from the U.S. Bankruptcy Court for the Northern District of Illinois to employ Revel CPA as tax return preparer. The firm will provide these services: a. tax preparation services, and b. fractional CFO services The firm will be paid at these rates: a. An initial payment of $600 upon the Court's approval of Revel's retention to provide the Tax Preparation Services; and b. A subsequent payment of $4,020 upon completion of the Tax Preparation Services, i.e., filing of the applicable tax returns. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Martin Kamenski, a partner at Revel CPA, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Martin Kamenski Revel CPA 917 W Washington Blvd Chicago, IL 60607 Tel: (312) 278-1015 About The Black Sheep, Inc The Black Sheep, Inc., a marketing agency in Chicago, Illinois, specializes in connecting brands with college students across the United States through services including market research, field marketing, influencer campaigns, and paid advertising. Founded in 2008 by Atish Doshi as a satirical college newspaper at the University of Illinois, the company has expanded its network of student contributors and evolved its content to serve businesses and student housing properties nationwide. The Black Sheep filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. N.D. Ill. Case No. 26-01105) on January 22, 2026, listing between $100,001 and $500,000 in assets and between $1 million and $10 million in liabilities. Atish Doshi, president and chief executive officer, signed the petition. Neema Varghese of NV Consulting Services serves as Subchapter V trustee. The Debtor is represented by: Adam P. Silverman, Esq. Adelman & Gettleman, Ltd. Tel: (312) 435-1050 ext 229 Email: asilverman@ag-ltd.com BLESS YOUR HEART: Gets Interim OK to Use Cash Collateral -------------------------------------------------------- Bless Your Heart, LLC got the green light from the U.S. Bankruptcy Court for the Western District of Texas, San Antonio Division, to use cash collateral. At the recently held hearing, the court authorized the Debtor's interim use of cash collateral and set a final hearing for June 29. As of the petition date, the Debtor held approximately $4,650 in bank accounts and cash on hand, which constitutes the cash collateral. The Debtor identifies two potential secured creditors with interests in its cash: the U.S. Small Business Administration, holding a first-priority UCC lien with an estimated outstanding balance of approximately $112,861, and an unidentified creditor represented through CT Corporation System, which holds a second UCC filing but is believed to be undersecured given the limited value of the Debtor's cash assets. The SBA's claim is partially secured, while the second lienholder is described as wholly undersecured due to the minimal collateral available. About Bless Your Heart LLC Bless Your Heart, LLC is a Texas-based retail gift shop and boutique. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Tex. Case No. 26-51404) on May 27, 2026. In the petition signed by Kathleen Brockman, owner, the Debtor disclosed up to $100,000 in assets and up to $500,000 in liabilities. Judge Aubrey L. Thomas oversees the case. Robert C Lane, Esq., at The Lane Law Firm, represents the Debtor as legal counsel. BLESS YOUR HEART: Todd Headden Named Subchapter V Trustee --------------------------------------------------------- The U.S. Trustee for Region 7 appointed Todd Headden as Subchapter V trustee for Bless Your Heart, LLC. Mr. Headden will charge $450 per hour for his services as Subchapter V trustee and $175 per hour for his support staff. The trustee will also seek reimbursement for work-related expenses incurred. Mr. Headden declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Todd Headden 7600 Burnet Rd., Ste. 530 Austin, TX 78757 Telephone: (737) 881-7104 theadden@haywardfirm.com About Bless Your Heart LLC Bless Your Heart, LLC in San Antonio, Texas, sought relief under Chapter 11 of the Bankruptcy Code (Bankr. W.D. Texas Case No. 26-51404) on May 27, 2026. At the time of the filing, Debtor had estimated assets of between $50,001 and $100,000 and liabilities of between $100,001 and $500,000. Judge Aubrey L Thomas oversees the case. Robert C. Lane, Esq., at The Lane Law Firm, PLLC is Debtor's bankruptcy counsel. BONIFAS ENTERPRISES: Unsecureds Will Get 3.9% over 3 Years ---------------------------------------------------------- Bonifas Enterprises, Inc. filed with the U.S. Bankruptcy Court for the District of Colorado a Small Business Plan of Reorganization under Subchapter V dated May 28, 2026. The Debtor is a Colorado corporation which provides transmission services to customers in the Colorado Springs area, through a number of locations. The Debtor's financial issues were caused by an overexpansion. The Debtor hired too many employees, and the labor costs caused significant cash flow issues. The Debtor tried to remedy the cash flow issues by taking out merchant cash advances. The merchant cash advances, however, caused the Debtor's financial issues to spiral and ended up leading to the bankruptcy filing. Class 8 consists of those unsecured creditors of the Debtor who hold Allowed Claims that were either scheduled by the Debtor as undisputed, or subject to timely filed proofs of claim to which the Debtor does not successfully object. Class 8 is impaired by the Plan. In the first year after the Effective Date, no payments will be made to general unsecured creditors. In the second year after the Effective Date (months 13 to 24), the Debtor shall make quarterly payments to general unsecured creditors of $6,197.50, pro rata, with said payment to be made within 30-days after the end of each quarter. In the third year after the Effective Date (months 25 to 36), the Debtor's quarterly payment shall increase to $9,348.75, pro rata with each payment to be made within 30-days after the end of each quarter, at which point the Debtor's plan obligations shall be concluded. These guaranteed payments have been calculated using the Debtor's projections, attached to this Plan as Exhibit B. The Debtor's projections allow the Debtor to build a $50,000.00 emergency reserve, after which dollars will be paid to general unsecured creditors. Class 9 includes the interests in Debtor held by the its pre confirmation shareholders. Class 9 is not impaired by this Plan. On the Effective Date of the Plan, Class 9 Interest Holders shall retain their interests in Debtor which they owned prior to the Petition Date. The Debtor's Plan is feasible. As noted in the Debtor's projections, attached hereto as Exhibit B, the Debtor projects to pay unsecured creditors the guaranteed sum of $62,185.00 over the life of the Plan. The Debtor's projections show the Debtor's projected annual revenue and expenses in detail. Based on those projections, the Plan is feasible. On the Effective Date of the Plan, Mr. Joshua Bonifas, the sole member of Debtor, shall be appointed pursuant to Section 1142(b) of the Bankruptcy Code for the purpose of carrying out the terms of the Plan, and taking all actions deemed necessary or convenient to consummating the terms of the Plan. The principal alternative to a Debtor's reorganization under Chapter 11 is a conversion of the case to Chapter 7 of the Bankruptcy Code. Chapter 7 requires the liquidation of the Debtor's assets by a Trustee who is appointed by the United States Trustee's office. In a Chapter 7 case, the Chapter 7 Trustee would take over control of the Debtor's assets. The assets would be liquidated and the proceeds distributed to creditors in the order of their priorities. As noted in the Liquidation Analysis attached hereto as Exhibit C, in a liquidation in Chapter 7, virtually nothing would be available for creditors. By contrast, Debtor proposes a Plan which guarantees paying general unsecured creditors $62,185.00 over 3 years, or 3.9%, via this Plan, in addition to paying priority and administrative expense creditors in full. A full-text copy of the Plan of Reorganization dated May 28, 2026 is available at https://urlcurt.com/u?l=MowLLG from PacerMonitor.com at no charge. Counsel to the Debtor: Jonathan M. Dickey, Esq. Kutner Brinen Dickey Riley, PC 1660 Lincoln Street, Suite 1720 Denver, CO 80264 Telephone: (303) 832-2400 E-mail: jmd@kutnerlaw.com About Bonifas Enterprises Bonifas Enterprises, Inc., doing business as Best Western Transmission, provides automotive repair and maintenance services in Colorado Springs, Colorado, and throughout El Paso County. Bonifas Enterprises, Inc. filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. D. Col. Case No. 26-11160) on Feb. 27, 2026, listing up to $50,000 in assets and $1 million to $10 million in liabilities. The petition was signed by Joshua Bonifas as sole shareholder. Judge Kimberley H Tyson presides over the case. Jonathan M. Dickey, at KUTNER BRINEN DICKEY RILEY, P.C., serves as the Debtor's counsel. BRAZAS CHICKEN: Seeks to Hire Latham Luna as Bankruptcy Counsel --------------------------------------------------------------- Brazas Chicken Inc. seeks approval from the U.S. Bankruptcy Court for the Middle District of Florida to hire Latham, Luna, Eden & Beaudine, LLP, as its bankruptcy counsel. The firm's services include: (a) advising as to the Debtor's rights and duties in this case; (b) preparing pleadings related to this case, including a disclosure statement and plan of reorganization; and (c) taking any and all other necessary action incident to the proper preservation and administration of this estate. Latham Luna will be compensated at hourly rates ranging from $275 to $495 for attorneys (including Daniel A. Velasquez) and from $105 to $125 for paraprofessionals, subject to periodic adjustment. The firm received a prepetition retainer totaling $31,738, plus $5,552 for prepetition services and expenses. The Debtor paid an advance fee of $26,738. Latham Luna represents that it is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code and holds no interest adverse to the Debtor or its estate, according to court filings. The firm can be reached at: Daniel A. Velasquez, Esq. LATHAM, LUNA, EDEN & BEAUDINE, LLP 201 S. Orange Ave., Suite 1400 Orlando, FL 32801 Telephone: (407) 481-5800 Facsimile: (407) 481-5801 E-mail: dvelasquez@lathamluna.com About Brazas Chicken Inc. Brazas Chicken Inc. operates in the restaurant and food-service industry, offering prepared meals and dining services. The company is engaged in the operation and management of restaurant-related business activities. Brazas Chicken Inc. sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 26-03802) on May 22, 2026. In its petition, the debtor reported estimated assets of $100,001-$1 million and estimated liabilities of $100,001-$1 million. Honorable Bankruptcy Judge Tiffany P. Geyer handles the case. The debtor is represented by Daniel A. Velasquez, Esq., of Latham, Luna, Eden & Beaudine, LLP. BRIGHT HORIZONS: Moody's Rates New Secured 1st Lien Term Loan 'Ba3' ------------------------------------------------------------------- Moody's Ratings assigned a Ba3 rating to Bright Horizons Family Solutions LLC's (Bright Horizons or BFAM) proposed senior secured first lien term loan A. Bright Horizons' Ba3 Corporate Family Rating, Ba3-PD Probability of Default Rating and Ba3 ratings on the existing senior secured first lien revolver and term loan B are not affected. The Speculative Grade Liquidity (SGL) rating remains unchanged at SGL-1. The outlook remains stable. Bright Horizons is proposing to upsize its existing revolving credit facility by $100 million and issue a new $375 million term loan A due in April 2030. Proceeds from the new term loan A will be used to repay a portion of the company's existing revolver borrowings that were previously drawn to refinance its prior term loan A in April 2025 and fund share repurchases. Pro forma for the transaction, the revolver commitment will increase to $1 billion with borrowings reduced to about $254 million, restoring meaningful liquidity capacity while maintaining overall debt levels broadly unchanged. There is no change to the collateral or guarantee structure. The use of borrowings to fund share repurchases is credit negative because it increases debt, leverage and cash interest expense. The transactions nevertheless do not affect the existing ratings or stable outlook because debt-to-EBITDA leverage around 3.1x as of March 2026 (incorporating Moody's adjustments) is at the low end of the leverage range Moody's expects for the Ba3 CFR. The company's operating performance remains solid, with revenue increasing approximately 9% for the last 12 months ending March 2026 and management reaffirming 2026 revenue growth of approximately 6%. The refinancing also enhances liquidity by increasing unused revolver capacity. Moody's believes the projected annual free cash flow of more than $200 million will comfortably fund the required term loan A amortization that is initially $9 million annually with step ups over time. The proposed term loan A maturity in April 2030 is the same as the revolver expiration. RATINGS RATIONALE Bright Horizons' Ba3 CFR reflects the company's market-leading position in the employer-sponsored childcare industry, supported by a diversified client base across multiple industry verticals that creates low reliance on any single client or sector. The rating also incorporates strong free cash flow generation and a durable business model supported by long term employer relationships, high retention and increasing demand for back-up care and workforce solutions. The company's back-up care segment continues to be a key driver of profitability, benefiting from the asset light, high margin operating profile and increasing utilization trends. These strengths are balanced against exposure to economic cyclicality, labor cost inflation, ongoing enrollment pressures linked to hybrid work trends in the US, unfavorable demographic factors such as declining birth rates, and moderate financial leverage that Moody's expects to decline through earnings growth. Although capital spending has remained consistent in absolute terms and has declined modestly to below 7% of revenue on a Moody's adjusted basis, Moody's continues to view Bright Horizons' spending as elevated relative to sector maintenance requirements. Ongoing investments in center development, refurbishment and technology continue to absorb a meaningful share of cash flow and can constrain financial flexibility during periods of softer demand. Moody's expects Bright Horizons' credit metrics to improve over the next 18-24 months as leverage trends toward 3x by year-end 2026 including Moody's adjustments, supported by continued earnings growth, modest full-service enrollment gains in the flat to low single-digit range, and sustained expansion of the back-up care business. Liquidity will remain very good, supported by solid free cash flow generation exceeding $200 million annually and substantial revolver availability. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATING The stable outlook reflects Moody's expectations that Bright Horizons will sustain revenue and earnings growth through continued demand in back-up care and incremental improvement in full-service occupancy while maintaining disciplined execution on portfolio optimization. Moody's also anticipates the company will maintain very good liquidity including free cash flow exceeding $200 million and moderate leverage. The ratings could be upgraded if operating performance and earnings continue to improve including higher enrollment levels and occupancy rates. An upgrade would also depend on Bright Horizons' sustaining Moody's adjusted debt-to-EBITDA leverage below 3x, maintaining free cash flow-to-debt over 12.5% and demonstrating a conservative approach with respect to acquisitions, shareholder distributions and share repurchase activities in order to sustain lower leverage. The ratings could be downgraded if operating earnings contract because of factors such as enrollment declines, lower pricing or an increase in costs. A downgrade could also occur if Moody's adjusted debt-to-EBITDA leverage is sustained above 4x, liquidity deteriorates, or if the company pursues a material debt-financed acquisition or aggressive share repurchase activity. The principal methodology used in this rating was Business and Consumer Services published in February 2026. Bright Horizons Family Solutions LLC, based in Newton, Massachusetts, is a provider of employer-based childcare services, back-up dependent and senior care, and other educational advisory services in the United States, United Kingdom, Netherlands, Australia and India. As of March 2026 the company operated approximately 1,000 childcare and early education centers with the capacity to serve approximately 112,500 children. The company is publicly traded on the NYSE under ticker "BFAM" and generated approximately $2.98 billion in revenue as of the last 12 months ending March 2026. BRIGHTVIEW LANDSCAPES: S&P Rates New First-Lien Term Loan B 'B+' ---------------------------------------------------------------- S&P Global Ratings assigned its 'B+' issue-level rating and '2' recovery rating to BrightView Landscapes LLC's refinanced $738 million first-lien term loan B (TLB) due 2033. The '2' recovery rating indicates its expectation for substantial (70%-90%; rounded estimate: 70%) recovery in the event of a payment default. The company will use the proceeds from this issuance to refinance its existing $738 million TLB due 2029, effectively extending its maturity to 2033. Our 'B' issuer credit rating and stable outlook on BrightView are unchanged. The transaction has a neutral impact on our projected leverage and free operating cash flow (FOCF) metrics because we continue to expect the company's S&P Global Ratings-adjusted leverage and FOCF to debt will remain near the mid-4x area and in the low-single-digit percent area, respectively, in fiscal 2026. Through its One Brightview initiative, the company has improved its key performance metrics over the last few quarters, including its customer retention and employee turnover. This supports our expectation BrightView will increase its EBITDA and expand its margin by about 20 basis points, despite increased expenses from higher fuel prices and selling costs. We expect the company's FOCF generation will remain pressured throughout 2026 due to elevated capital expenditure of about $250 million tied to refreshing its fleet, upgrading equipment, and making technology investments. Issue Ratings--Recovery Analysis Key analytical factors -- BrightView's capital structure comprises a $300 million revolving credit facility due 2031, a $325 million accounts-receivable financing facility due 2027 (not rated), and a proposed $738 million first-lien TLB due 2033. -- BrightView is the borrower and issuer of the debt. BrightView Holdings Inc. and its domestic subsidiaries serve as guarantors. A first-priority perfected security interest in substantially all assets and stock secures the revolver and term loan facilities, while the company's account-receivables financing facility is collateralized by substantially all accounts receivable and unbilled revenue. -- S&P's simulated default scenario contemplates a default stemming from customer attrition, competitive pressures, higher fuel and labor costs, and economic weakness. -- S&P believes if BrightView defaults, a viable business model would remain, given its market position, long-standing customer relationships, well-developed infrastructure, and diverse U.S. geographic footprint. Simulated default assumptions -- Simulated year of default: 2029 -- EBITDA at emergence: About $204 million -- Implied enterprise valuation multiple: 5.5x -- Gross enterprise value: About $1.1 billion Simplified waterfall -- Net enterprise value (after 5% administrative costs): About $1.06 billion -- Priority claims: About $332 million -- Total collateral value available for first-lien debt: About $732 million -- First-lien debt claims: About $1 billion --Recovery expectations: 70%-90% (rounded estimate: 70%) Note: Estimated claim amounts include about six months of accrued but unpaid interest. BRODY HOLDINGS: Seeks to Hire Stumbo Hanson LLP as Legal Counsel ---------------------------------------------------------------- Brody Holdings, LLC seeks approval from the U.S. Bankruptcy Court for the District of Kansas to hire Stumbo Hanson, LLP as its legal counsel. Stumbo Hanson will render these legal services: (a) advise the Debtor regarding its powers and duties in the continued operation and management of its property; (b) prepare legal papers; and (c) perform all other legal services for the Debtor. Stumbo Hanson received a retainer of $55,000 from the Debtor. The hourly rates of counsel and staff are as follows: Tom R. Barnes II $450 Todd A. Luckman $450 Quentin E. Kurts $450 Other Associates $300 Law Clerks $85 In addition, the firm will seek reimbursement for expenses incurred. To the best of the Debtor's knowledge, the firm has no connection with the Debtor's creditors, or any other party-in-interest, or their attorneys and it represents no interest adverse to the estate. The firm can be reached through: Tom R. Barnes II, Esq. Stumbo Hanson, LLP 2887 S.W. MacVicar Ave. Topeka, KS 66611 Telephone: (785) 267-3410 Facsimile: (785) 267-9516 Email: tom@stumbolaw.com About Brody Holdings, LLC Brody Holdings, LLC is a real estate holding company that owns a portfolio of commercial, office, retail, industrial and residential properties in Derby, Rose Hill and Wichita, Kansas. The company's holdings include restaurant, office, retail-center, flex-industrial and single-family residential properties, with several assets concentrated in Derby's Greenway, Baltimore, Market and Madison corridors. Brody Holdings, LLC filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. D. Kan. Case No. 26-40399) on May 29, 2026, listing $16,013,600 in assets and $12,192,492 in liabilities. The petition was signed by Brant Dumford as managing member. Judge Dale L Somers presides over the case. Tom R. Barnes II, Esq. at STUMBO HANSON, LLP serves as the Debtor's counsel. CAMP MONTE: Case Summary & Three Unsecured Creditors ---------------------------------------------------- Debtor: Camp Monte LLC 260 South Hope Chapel Road Jackson, NJ 08527 Business Description: Camp Monte LLC is a Vernon, New Jersey-based real estate company that owns residential condominium or townhouse units on Maple Crescent and Pine Crescent in Vernon. The company's portfolio consists of seven units totaling about 7,851 square feet, including three tenant-occupied units and four vacant units. Chapter 11 Petition Date: June 2, 2026 Court: United States Bankruptcy Court Eastern District of New York Case No.: 26-42716 Judge: Hon. Elizabeth S Stong Debtor's Counsel: Charles Wertman, Esq. LAW OFFICES OF CHARLES WERTMAN, P.C. 100 Merrick Road, Suite #304W Suite 304W Rockville Centre, NY 11570 Tel: (516) 284-0900 Email: charles@cwertmanlaw.com Total Assets: $2,423,000 Total Liabilities: $1,095,795 The petition was signed by Mark Taub as chief restructuring officer. A full-text copy of the petition, which includes a list of the Debtor's three unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/TCL26ZY/Camp_Monte_LLC__nyebke-26-42716__0001.0.pdf?mcid=tGE4TAMA CAREISMATIC BRANDS: Wins Bid to Dismiss Patient to Person's Case ---------------------------------------------------------------- Judge Richard G. Stearns of the U.S. District Court for the District of Massachusetts granted the motions to dismiss filed by Careismatic Brands, LLC (Careismatic Brands), Careismatic SV LLC (Careismatic SV), and Silverts Universal Dressing Solutions, Inc. in the case captioned as PATIENT TO PERSON, LLC v. CAREISMATIC BRANDS, LLC f/k/a STRATEGIC PARTNERS, INC.; CAREISMATIC SV LLC f/k/a SILVERTS ADAPTIVE, LLC; and SILVERTS UNIVERSAL DRESSING SOLUTIONS, INC., Case No. 25-cv-13896-RGS (D. Mass.). Plaintiff Patient to Person, LLC (PTP) brings this action against defendants Careismatic Brands, LLC, Careismatic SV LLC, and Silverts Universal Dressing Solutions, Inc., asserting state contract and federal antitrust claims. Defendants move to dismiss on several grounds, the most immediately relevant of which is the claim that the Bankruptcy Court's confirmation of a Chapter 11 plan rejecting Careismatic Brands' supply contract with PTP discharged any debt between the parties. PTP designs and sells so-called "post-surgical and treatment clothing" and "recovery wear" products for patients across the medical spectrum with various physical disabilities, with a specialized focus on cancer patients. It has received a utility patent and trademark protection for its designs. On October 28, 2019, PTP entered into a Licensing Agreement with Careismatic Brands, which gave Careismatic Brands an exclusive license to use PTP's designs for a term of ten years. The parties dispute whether Careismatic Brands complied with the terms of the Licensing Agreement after it went into effect. On January 22, 2024, Careismatic Brands filed a Chapter 11 petition for bankruptcy with the United States Bankruptcy Court for the District of New Jersey. Careismatic Brands allegedly did not list PTP as a creditor entitled to receive notice when filing its petition. PTP nonetheless became aware of the proceeding in time to file an initial proof of claim. On the form, PTP designated 247 Bridges Lane, North Andover, MA, as the address to which notice should be sent. Careismatic filed several versions of a Chapter 11 Joint Plan of Reorganization, all of which rejected the contract with PTP. Notice of these plans was not sent to PTP at the North Andover address but instead to 351 Pleasant Street, Suite 322, Northampton, MA, and 1 Parker Street, Lawrence, MA. PTP consequently did not timely file an amended proof of claim before the Rejection Claim Bar Date. The Bankruptcy Court for the District of New Jersey ultimately issued an Order confirming the Chapter 11 reorganization plan of Careismatic Brands. After reorganization, Careismatic Brands exited the post-surgical recovery wear business and spun off the corresponding part of Careismatic SV3 to form the independent company Silverts Universal. As part of that restructuring, Careismatic Brands agreed not to compete with Silverts Universal in the post-surgical recovery wear business. This action ensued. The Bankruptcy Court Order confirming Careismatic Brands' Chapter 11 reorganization plan would ordinarily preclude a creditor from bringing any claim premised on pre-petition conduct. PTP argues that it is entitled to an exception from this general rule under 11 U.S.C. Sec. 523(a)(3)(A). PTP argues that, because it did not receive notice of the contract rejection in time to file a claim by the Rejection Claim Bar Date, its claims fall within the scope of this exception. But the court is not convinced. By its plain language, the statute exempts a debt from discharge only if the creditor did not receive notice "of the case" in time to file a proof of claim. Relying on the Supreme Court's holding in Mission Product Holdings, Inc. v. Tempnology, LLC, 587 U.S. 370 (2019), PTP argues that the Licensing Agreement survived the bankruptcy proceeding, and therefore that defendants' post-petition breaches of that agreement are actionable. Again, the court is not persuaded. Judge Stearns explains, "In Mission Product, the Supreme Court concluded that a creditor had continuing rights to use the debtor's trademarks even though the debtor had rejected the contract in a bankruptcy proceeding, reasoning that the rejection breached but did not rescind the contract between the parties. Key to the Court's holding, however, was the fact that the license existed independently of the debtor's future performance under the contract. Nothing in the decision purports to authorize a creditor to compel a debtor's future performance under the contract, as PTP proposes here." A copy of the Court's Memorandum and Order dated May 29, 2026, is available at http://urlcurt.com/u?l=ISzXIFfrom PacerMonitor.com. About Careismatic Brands The Santa Monica, Calif.-based Careismatic Brands, LLC, is a marketer and distributor of medical apparel, footwear, and accessories. Founded in 1995 in Chatsworth, Calif., Careismatic has grown from operating a single flagship brand, Cherokee Medical Uniforms, to a portfolio of seventeen brands. The company offers value to its stakeholders through its spectrum of medical apparel and workwear and omnichannel distribution capabilities across the globe. It has an extensive portfolio of iconic and emerging brands across the health and wellness platform, including Cherokee Uniforms, Dickies Medical, Heartsoul Scrubs, Infinity, Scrubstar, Healing Hands, Med Couture, Medelita, Classroom Uniforms, AllHeart, Silverts Adaptive Apparel, and BALA Footwear. Careismatic Brands filed a Chapter 11 petition (Bankr. D.N.J. Lead Case No. 24-10561) on Jan. 22, 2024, with $1 billion to $10 billion in both assets and liabilities. Kent Percy, chief restructuring officer, signed the petition. Judge Vincent F. Papalia oversees the case. Kirkland & Ellis, LLP and Kirkland & Ellis International, LLP, represent the Debtor as general bankruptcy counsel; Cole Schotz, P.C. as local bankruptcy counsel; AP Services, LLC as financial advisor; PJT Partners, LP as investment banker; and C Street Advisory Group as strategic communications advisor. Donlin, Recano & Company, Inc. is the claims, noticing and solicitation agent and administrative advisor. The U.S. Trustee for Regions 3 and 9 appointed an official committee to represent unsecured creditors in the Debtor's Chapter 11 case. The committee is represented by Bradford J. Sandler, Esq., at Pachulski Stang Ziehl & Jones, LLP. Milbank LLP and Houlihan Lokey served as legal and financial advisors, respectively, to an ad hoc group of first lien lenders who are now the Company's new shareholders. * * * In June 2024, Careismatic Brands, LLC, emerged from Chapter 11 following confirmation of the Company's Plan of Reorganization on May 31, 2024. Through its financial restructuring process, Careismatic has significantly strengthened its capital structure by eliminating all of its third-party debt. Careismatic moved forward under new ownership with a group of investment funds, led by Nexus Capital Management, who have been dedicated partners to the Company through the restructuring process. CARLA'S PASTA: Taps Judge Joan N. Feeney and JAMS as Mediator ------------------------------------------------------------- Old CP, Inc. f/k/a Carla's Pasta Inc. seeks approval from the U.S. Bankruptcy Court for the District of Connecticut to appoint the Honorable Joan N. Feeney (Ret.) and JAMS as mediator. Judge Feeney has extensive experience serving as a mediator in complex insolvency and commercial matters and is uniquely qualified to facilitate settlement discussions in this adversary proceeding. Judge Feeney will charge $775 per hour for the preparation for the mediation, with the expectation that such preparation will take less than one day and for the mediation session. As disclosed in the court filings, Judge Feeney does not represent any other entity having an adverse interest in connection with this case, and is "disinterested" as that term is defined in §101 of the Bankruptcy Code. Judge Feeney can be reached at: Hon. Joan N. Feeney (Ret.) JAMS Boston Mediator & Arbitrator 18881 Von Karman Ave., Suite 350 Irvine CA 92612 Phone: (949) 224-1810 About Carla's Pasta and Suri Realty Carla's Pasta Inc. is a family-owned and operated business headquartered in South Windsor, Conn. It manufactures food products including pasta sheets, tortellini, ravioli, and steam bag meals for branded and private label retail, foodservice distributors, and restaurant. Founded in 1978 by Carla Squatrito, Carla's Pasta's stock is held by members of the Squatrito family. On Dec. 31, 2016, Carla's Pasta acquired 100% of Suri Realty, LLC's membership interests. Suri's business is limited to the ownership of two adjoining parcels of real property located at 50 Talbot Lane and 280 Nut, meg Road, South Windsor, Conn. Carla's Pasta operates its business from an approximately the 150,000-square-foot BRC+ certified production facility. On Oct. 29, 2020, an involuntary petition for relief under Chapter 7 of the Bankruptcy Code was filed against Suri by Dennis Group, HJ Norris, LLC, Renaissance Builders, Inc., and Elm Electrical, Inc. On Dec. 17, the Court approved Suri's request and converted the involuntary Chapter 7 case to one under Chapter 11. Carla's Pasta filed a Chapter 11 petition (Bankr. D. Conn. Case No. 21-20111) on Feb. 8, 2021. It estimated assets of $10 million to $50 million and liabilities of $50 million to $100 million. The cases are jointly administered under Case No. 21-20111. Judge James J. Tancredi oversees the cases. The Debtors tapped Locke Lord LLP as their legal counsel, Verdolino & Lowey, PC as accountant, Cowen & Co. as investment banker, and Novo Advisors, LLC as financial advisor. Sandeep Gupta of Novo Advisors is the Debtors' chief restructuring officer. CDK GLOBAL: S&P Alters Outlook to Negative, Affirms 'B-' ICR ------------------------------------------------------------ S&P Global Ratings revised the outlook to negative from stable and affirming all ratings on CDK Global II LLC, including the 'B-' issuer credit rating. The negative outlook reflects the potential for a lower rating if S&P believes the company will face difficulties refinancing upcoming maturities because of continued soft performance or there is a higher probability of debt maturity extension requiring lenders' concession. CDK's faces a more challenging path ahead as first quarter results show weaker customer metrics and revenues. S&P said, "While we recognize the company's efforts to improve its product offerings and sign up new customers, performance is persistently soft. For the first quarter ended March 31, 2026, customer retention declined to 96% from a steady level of around 97% in previous quarters, leading to 1% decline in revenues when compared with the same period a year ago. Its S&P Global Ratings-adjusted EBITDA margin slipped modestly in the quarter to about 36.5% and we anticipate continued near-term pressures from top line movements and additional costs to achieve expense reduction targets and sales and marketing initiatives. CDK had previously guided to some fluctuations in the retention metrics. However, we now believe the competitive environment is potentially more intense than we previously anticipated and could cause further revenue declines." S&P said, "A large customer, Asbury, is transitioning to a competitor's offering and we are now observing the impact more clearly. CDK indicated about $10 million to $15 million revenue impact in second-quarter 2026, and we anticipate further revenue hits in subsequent quarters as Asbury's contract rolls off. This will weigh on performance and cash flows for the foreseeable future. We are also monitoring the company's remaining performance obligations, which are contracted revenues it expects to recognize over future periods. As of March 31, 2026, contracted obligations are slightly lower when compared with the December 2025 period, possibly indicating challenges with customer renewals or potential pricing actions to sign new customers. "Liquidity currently remains sufficient. We believe the company should be able to refinance its $650 million revolver that expires in July 2027, while a majority of the remaining debt matures in mid-2029. We think CDK should continue to generate positive cash flow this year after debt service and litigation payouts. This would make the company less reliant on the revolver, though there could be temporary usage related to timing issues. CDK had $25 million borrowings under the revolver at the end of the first quarter, which it subsequently repaid. "Recent news of lenders forming creditor groups could affect refinancing prospects. Debt has been trading at lower prices, declining to the 45 to 55 range. We understand from press reports that these creditor groups have also hired legal counsel, likely posturing themselves for a potential balance sheet recapitalization. In our base case, we currently assume the company will be able to refinance debt without negatively affecting lenders. "We will continue monitoring risks from ongoing geopolitical events, tariffs, and litigation. We think rising inflation could delay vehicle sales and hurt CDK's transaction revenues. CDK also faces lingering litigation risk. CDK settled two financially burdensome lawsuits. While the outcome of the company's remaining litigation is difficult to predict, we will monitor whether legal expenses and verdicts weigh on its profitability and cash flow metrics. Remaining litigation payments for the AutoLoop settlement are about $60 million annually, with the first of three payments due in third-quarter 2026. "The negative outlook indicates we could lower the rating if believe CDK will encounter difficulties refinancing upcoming maturities because of continued soft performance or we believe there is a higher probability of a debt maturity extension that would require lenders' concession." S&P would consider a downgrade if performance and cash flow weaken or if it views CDK's capital structure as unsustainable. This could occur if: -- S&P believes there are declining prospects of a smooth refinancing of the revolver and other debt; -- The company makes persistent and material draws on its revolver; -- S&P believes its customer retention and remaining performance obligations continue to slide downward, likely due to competitive pressures causing weaker new customer wins and renewal rates or other business execution issues; or -- Additional cash flow pressures from new litigation payouts. S&P may consider revising the outlook to stable if it believes CDK can refinance debt without negatively affecting creditors and performance shows sustained improvement. For this to happen, S&P would expect: -- CDK completes a timely and smooth refinancing of debt maturities; -- The company improves its customer retention and remaining performance obligations such that S&P anticipates it will revert its top line to sustained improvement; -- Improved performance leads to leverage trending around 7.5x and interest coverage approaching the high-1x area; and -- Better cash flow on stronger profit conversion such that it increases its free operating cash flow to debt to the mid-single-digit percent area. CELINA TOTAL: Hires Lane Law Firm PLLC as Bankruptcy Counsel ------------------------------------------------------------ Celina Total Foot Care PLLC seeks approval from the U.S. Bankruptcy Court for the Eastern District of Texas to hire The Lane Law Firm, PLLC as general bankruptcy counsel. The firm will render these services: a. assist, advise and represent the Debtor relative to the administration of the chapter 11 case; b. assist, advise and represent the Debtor in analyzing the Debtor's assets and liabilities, investigating the extent and validity of lien and claims, and participating in and reviewing any proposed asset sales or dispositions; c. attend meetings and negotiate with the representatives of the secured creditors; d. assist the Debtor in the preparation, analysis, and negotiation of any plan of reorganization and disclosure statement accompanying any plan of reorganization; e. take all necessary action to protect and preserve the interests of the Debtor; f. appear, as appropriate, before this Court, the Appellate Courts, and other Courts in which matters may be heard and to protect the interests of the Debtor before said Courts and the United States Trustee; and g. perform all other necessary legal services in these cases. The firm will be paid at these hourly rates: Robert C. Lane, (lead) Partner $725 Joshua D. Gordon, Partner $700 Matthew W. Bourda, Senior Counsel $700 A. Zachary Casas, Attorney $625 Kyle Garza, Attorney $600 Paraprofessional $250 Lane Law Firm received a retainer of $35,000 from the Debtor. According to court filings, Lane Law Firm is a "disinterested person" as defined in section 101(14) of the Bankruptcy Code and holds no interest adverse to the estate. The firm can be reached through: Robert C. Lane, Esq. The Lane Law Firm, PLLC 6200 Savoy, Suite 1150 Houston, TX 77036 Telephone: (713) 595-8200 Facsimile: (713) 595-8201 Email: notifications@lanelaw.com About Celina Total Foot Care PLLC Celina Total Foot Care PLLC sought protection for relief under Chapter 11 of the Bankruptcy Code (Bankr. E.D. Tex. Case No. 26-41849) on May 29, 2026, listing up to $50,000 in assets and $100,001 to $500,000 in liabilities. Robert C. Lane, Esq. at The Lane Law Firm PLLC presides over the case. CHASE INTERMEDIATE: Golub Capital Marks $595,000 Loan at 29% Off ---------------------------------------------------------------- Golub Capital BDC Inc. has marked its $595,000 loan extended to Chase Intermediate to market at $421,000 or 71% of the outstanding amount, according to Golub Capital BDC's 10-Q for the fiscal year ended March 31, 2026, filed with the U.S. Securities and Exchange Commission. Golub Capital BDC Inc. is a participant in a one stop loan extended to Chase Intermediate. The Loan accrues interest at a rate of SF + 4.75% (j) 8.42% per annum. The Loan matures on Oct. 1, 2028. Golub Capital BDC, Inc. is a business development company that provides financing solutions to middle-market companies. The Fund is led by David B. Golub as Chief Executive Officer (Principal Executive Officer) and Christopher C. Ericson as Chief Financial Officer (Principal Accounting and Financial Officer). The Fund can be reached at: David B. Golub Golub Capital BDC, Inc. 200 Park Avenue, 25th Floor New York, NY 10166 Telephone: (212) 750-6060 About Chase Intermediate Chase Intermediate is a privately held corporate borrower financed through a one-stop credit facility, suggesting a middle-market company utilizing unitranche-style debt for its capital needs. CHS/COMMUNITY HEALTH: Divests Four Arkansas Hospitals in $110M Deal ------------------------------------------------------------------- Community Health Systems, Inc. announced in a regulatory filing that CHS/Community Health Systems, Inc., a wholly-owned subsidiary of the "Company, completed the transactions contemplated by that certain Asset Purchase Agreement dated as of March 5, 2026, with Freeman-Oak Hill Health System, d/b/a Freeman Health System. The entry into the Purchase Agreement was previously disclosed on a Current Report on Form 8-K filed by the Company with the Securities and Exchange Commission on March 5, 2026. Pursuant to the Purchase Agreement, at the closing, Purchaser acquired substantially all of the assets and assumed certain liabilities from certain subsidiaries of CHS related to: (i) Northwest Medical Center - Bentonville in Bentonville, Arkansas, (ii) Northwest Medical Center - Springdale in Springdale, Arkansas, (iii) Northwest Medical Center - Willow Creek Women's Hospital in Johnson, Arkansas, and (iv) Siloam Springs Regional Hospital in Siloam Springs, Arkansas, and the associated outpatient centers and practices. The purchase price paid to CHS in connection with the closing of the Transaction, after giving effect to estimated working capital, the assumption of finance leases by the Purchaser and before certain transaction expenses, was $110 million in cash (subject to a post-closing working capital adjustment). Leerink Partners acted as exclusive financial advisor to the Company for the transaction. A full text copy of the Purchase Agreement is available at https://tinyurl.com/43a4wctf. The representations, warranties, and covenants contained in the Purchase Agreement were made solely for purposes of such agreement and as of specific dates, were solely for the benefit of the parties to the Purchase Agreement, may have been qualified in the Purchase Agreement by confidential disclosure schedules (which disclosure schedules may contain information that modifies, qualifies and creates exceptions to the representations, warranties and covenants set forth in the Purchase Agreement), may be subject to limitations and contractual risk allocation mechanisms agreed upon by the parties to the Purchase Agreement, and may be subject to standards of materiality that differ from what an investor may view as material, and thus should not be relied upon as necessarily reflecting the actual state of facts or conditions. A full text copy of the unaudited pro forma financial information of the Company in connection with the Transaction is available at https://tinyurl.com/y3nttduk About Community Health Systems Inc. Community Health Systems, Inc. -- http://www.chs.net/-- is a publicly traded hospital company and an operator of general acute care hospitals in communities across the country. Its affiliates provide healthcare services, developing and operating healthcare delivery systems in 40 distinct markets across 15 states. As of March 31, 2026, the Company had $13.2 billion in total assets, $14.1 billion in total liabilities, $260 million in redeemable noncontrolling interests in equity of consolidated subsidiaries, and $1.2 billion in total stockholders' deficit. * * * In April 2026, S&P Global Ratings affirmed its 'CCC+' rating on Community Health Systems Inc. and revised its outlook to positive from negative. At the same time, S&P Global affirmed its issue-level ratings on Community Health's 'B-'- rated senior secured as well as its 'CCC-' rated junior secured and senior unsecured debt. In May 2026, Fitch Ratings has affirmed CHS/Community Health Systems, Inc.'s (CHS) and its parent, Community Health Systems, Inc's. (CYH) Long-term Issuer Default Ratings (IDRs) at 'CCC+'. Fitch has also affirmed the asset-based revolver at 'B+' with a Recovery Rating of 'RR1', first lien secured notes at 'B'/'RR2', second lien secured notes at 'CCC-'/'RR6' and senior unsecured notes at 'CC'/'RR6'. COLOSSUS ACQUIRECO: S&P Affirms 'BB+' Rating on Term Loan Add-On ---------------------------------------------------------------- S&P Global Ratings affirmed its 'BB+' issue-level rating on Colossus AcquireCo LLC's term loan following the announcement of its proposed $425 million add-on. The company, which is the parent of Colonial Enterprises Inc. and Colonial Pipeline Co., intends to use proceeds to finance a shareholder distribution and pay fees and expenses. S&P said, "We continue to assess Colossus' term loan as effectively unsecured because its security package mainly comprises equity in Colonial Enterprises rather than direct liens on operating assets. The incremental debt at the Colossus entity will result in a priority debt ratio (calculated as the percentage of total consolidated debt issued by an issuer's subsidiaries) somewhat below 50%, the threshold at which we typically notch unsecured debt for investment-grade issuers. However, we believe Colossus' ratio remains relatively high and sensitive to incremental debt, including revolver draws. In our view, the transaction doesn't materially reduce the term loan's risk of subordination to debt issued at operating subsidiaries, and we continue to treat it as effectively unsecured since its security package does not include direct liens on operating assets. Therefore, we affirmed the 'BB+' issue-level rating. "Our 'BBB-' issuer credit rating and stable outlook are unchanged. We forecast debt to EBITDA of about 5.4x-5.5x in 2026, somewhat weaker than our prior expectation of about 5.2x but still below our downside threshold of 5.75x for a sustained period. We anticipate operating performance will benefit from higher utilization and tariff rates compared to last year as well as lower transaction-related expenses. Our rating also reflects our view that Colossus is moderately strategic to ultimate parent Brookfield Infrastructure Partners, and we expect it would receive extraordinary support under some foreseeable circumstances." ISSUE RATINGS--SUBORDINATION RISK ANALYSIS Capital structure -- Colossus' capital structure comprises a pro forma $3.3 billion senior secured term loan. -- Colonial Enterprises' capital structure comprises a $500 million unsecured revolving credit facility (currently undrawn), $600 million in senior unsecured notes due 2030, and $350 million in senior unsecured notes due 2035. -- Colonial Pipeline's capital structure comprises $1.9 billion in unsecured notes due 2030-2048. Analytical conclusions S&P treats Colossus' term loan as unsecured in its analysis. Although the ratio of total consolidated debt issued by subsidiaries is slightly below 50%, S&P believes the term loan is subordinated to debt at operating subsidiaries. In addition, incremental unsecured borrowing at subsidiaries--including draws on the revolving credit facility--could result in a ratio at or above 50%. S&P also believes that Colossus is dependent on upstream distributions from operating entities to meet its financial obligations. Therefore, S&P rates Colossus' senior secured debt 'BB+', one notch below its long-term issuer credit rating, to reflect subordination risk. CONSTRUCTION PARTNERS:S&P Rates New $989MM Upsized Term Loan 'BB-' ------------------------------------------------------------------ S&P Global Ratings assigned its 'BB-' issue-level rating and '3' recovery rating to civil infrastructure company Construction Partners Inc.'s (CPI) proposed new $989 million repriced and upsized term loan. The '3' recovery rating indicates its expectation for meaningful (50%-70%; rounded estimate: 55%) recovery in the event of default. CPI will use the proceeds to repay its $850 million term loan and a portion of outstanding revolver borrowings. Therefore, S&P views the transaction as leverage neutral. At the same time, the company is upsizing its revolving credit facility (not rated) by $200 million to a total capacity of $700 million. The company reported S&P Global Ratings-adjusted debt to EBITDA of 3.6x at the end of the second quarter of fiscal 2026. S&P expects it will continue to pursue growth through acquisitions and greenfield development, keeping leverage in the high-3x area in 2026 and 2027. Issue Ratings--Recovery Analysis Key analytical factors -- S&P's default scenario assumes a payment default following a sharp deterioration in margins, coupled with prolonged economic weakness that decreases investment in new infrastructure and delays maintenance and repair of existing infrastructure. -- S&P values CPI based on a 5x EBITDA multiple, in line with what it uses for peers. -- S&P assumes the revolver is 85% drawn at default. Simulated default assumptions -- Simulated year of default: 2030 -- EBITDA at emergence: $255 million Simplified waterfall -- Gross enterprise value at emergence: $1.278 billion -- Net enterprise value at emergence (after 5% administrative expense): $1.214 billion -- Total collateral value available to secured first-lien debts: $1.214 billion -- Secured first-lien debt claims: $2.069 billion --Recovery expectations: 50%-70% (rounded estimate: 55%) All debt amounts include six months of prepetition interest. CORSAIR BLADE: Golub Capital Marks $1.1M Loan at 52% Off -------------------------------------------------------- Golub Capital BDC has marked its $1,187,000 loan extended to Corsair Blade IV S.A R.L. to market at $566,000 or 48% of the outstanding amount, according to Golub Capital BDC's 10-Q for the fiscal year ended March 31, 2026, filed with the U.S. Securities and Exchange Commission. Golub Capital BDC is a participant in a one stop loan extended to Corsair Blade IV S.A R.L. The Loan accrues interest at a rate of SN + 5.75% (g) 9.23% cash/ 0.25% PIK per annum. The Loan matures on Dec. 1, 2030. Golub Capital BDC, Inc. is a business development company that provides financing solutions to middle-market companies. The Fund is led by David B. Golub as Chief Executive Officer (Principal Executive Officer) and Christopher C. Ericson as Chief Financial Officer (Principal Accounting and Financial Officer). The Fund can be reached at: David B. Golub Golub Capital BDC, Inc. 200 Park Avenue, 25th Floor New York, NY 10166 Telephone: (212) 750-6060 About Corsair Blade IV S.A R.L. Corsair Blade IV S.A R.L. appears to be a private corporate borrower accessing a one-stop term loan structure for leveraged financing. COSWMP LTD: Gets Interim OK to Use Cash Collateral -------------------------------------------------- COSWMP, Ltd. got the green light from the U.S. Bankruptcy Court for the District of Colorado to use cash collateral. At the recently held hearing, the court authorized the Debtor's interim use of cash collateral and set a final hearing for June 23. The Debtor needs continued access to cash collateral to pay employees, maintain equipment, and fulfill contracts. Its cash collateral is reportedly limited -- approximately $20,000 in bank balances -- compared to the secured claim of Community Banks of Colorado, leaving other creditors unsecured. Community Banks of Colorado holds a perfected security interest in substantially all of the Debtor's assets under a 2023 loan agreement, securing approximately $1.24 million in debt and accruing more than $10,000 in monthly interest. Although a 2022 blanket lien held by Vectra Bank Colorado technically predates the bank's lien, the Debtor asserts that Vectra was paid in full and may have failed to file a termination statement, which the Debtor intends to address directly with Vectra. Other secured creditors including equipment financiers and merchant cash advance providers have filed UCC financing statements against the Debtor's assets. Although some claim liens on accounts, inventory, and general intangibles, the Debtor contends that certain interests may be unsecured, disputed, or limited in scope and reserves all rights to challenge their validity. The Debtor offers adequate protection to Community Banks of Colorado through replacement liens of equal priority on post-petition collateral; monthly adequate protection payments of $10,630.57 beginning June 16; detailed financial reporting (including weekly cash flow updates and biweekly 13-week projections), monthly operating reports, maintenance of insurance on equipment and vehicles, and a 10-day cure period for defaults. A final hearing is scheduled for June 23. Community Banks of Colorado, as secured creditor, is represented by: Neal K. Dunning, Esq. Brown Dunning Fein Drusch, PC 7995 E. Prentice Ave, Suite 101-E Greenwood Village, CO 80111 Phone: 303-329-3363 Fax: 303-393-8438 ndunning@bdfdfirm.com About COSWMP Ltd. COSWMP Ltd., doing business as SOS Site Services and Snow Outdoor Services, provides landscape maintenance, irrigation maintenance, snow removal, tree removal and related site services in Colorado. The Boulder, Colorado-based company serves commercial and municipal customers, including public-sector clients, and operates a small fleet supporting construction and site-service work. COSWMP filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. D. Colo. Case No. 26-13686) on May 22, 2026, listing up to $1 million in assets and up to $10 million in liabilities. Troy Emberton, chief financial officer of COSWMP, signed the petition. Judge Thomas B. McNamara oversees the case. Justin M Mertz, Esq., at Michael Best & Friedrich, LLP, represents the Debtor as legal counsel. CRAFT CONSTRUCTION: Taps Edelboim Lieberman/Shelomith as Co-Counsel ------------------------------------------------------------------- Craft Construction Company seeks approval from the U.S. Bankruptcy Court for the Southern District of Florida to hire Edelboim Lieberman PLLC and Shelomith Law as bankruptcy co-counsel. The firm will render these services: (a) advise the Debtor with respect to its powers and duties as debtor and debtor-in-possession in the continued management and operation of its business and property; (b) attend meetings and negotiate with representatives of creditors and other parties in interest and advise the Debtor on the conduct of this case, including all legal and administrative requirements of operating in Chapter 11; (c) advise the Debtor in connection with cash collateral, post petition financing, and other financing arrangements and draft documents relating thereto; (d) take all necessary actions to protect and preserve the Debtor's estate, including the prosecution of actions on its behalf, the defense of actions commenced against the estate, negotiations concerning litigation in which the Debtor may be involved, and objections to claims filed against the estate; (e) prepare on behalf of the Debtor all motions, applications, answers, orders, reports, schedules, statements, plans, and other papers necessary to the administration of the estate; (f) negotiate and prepare on the Debtor's behalf a plan of reorganization and all related agreements and documents, and take any necessary action to obtain confirmation of such plan; (g) attend meetings with third parties and participate in negotiations with respect to the foregoing matters; (h) appear before this Court, any appellate courts, and the Office of the United States Trustee, and protect the interests of the Debtor's estate before such courts and parties; and (i) perform all other necessary legal services and provide all other necessary legal advice to the Debtor in connection with this Chapter 11 Case. The firms' will be paid at these rates: EL Law (a) $675 per hour for Brett D. Lieberman, Esq. and other partners, and (b) $225 to $675 per hour for other attorneys and paralegals; Shelomith Law (a) $625 per hour for Zach B. Shelomith, Esq., (b) $425 per hour for other attorney time, and (c) $200 to $285 per hour for paraprofessionals. The Debtor provided Shelomith Law with a retainer in the amount of $50,000. As disclosed in the court filings, EL Law and Shelomith Law are "disinterested persons" as that term is defined in Section 101(14) of the Bankruptcy Code as modified by Section 1107(b) of the Bankruptcy Code. The firms' can be reached through: Zach B. Shelomith, Esq. Dustin R. Piercy Esq. SHELOMITH LAW 2699 Stirling Road, Suite C401 Ft. Lauderdale, FL 33312 Telephone: (954) 920-5355 Facsimile: (954) 920-5371 Email: zbs@shelomith.law drp@shelomith.law - and - Brett D. Lieberman, Esq. Alexander Lewitt, Esq. EDELBOIM LIEBERMAN PLLC 2875 NE 191st St., Penthouse One Miami, FL 33180 Telephone: (305) 768-9909 Facsimile: (305) 928-1114 Email: brett@elrolaw.com alex@elbizlaw.com About Craft Construction Company Craft Construction Company is a privately held construction company headquartered in Pompano Beach, Florida. The company provides construction management, design-build, general contracting, pre-construction consulting, new construction, and renovation services. It serves commercial, industrial, and institutional markets, including commercial office, clubhouse, multifamily, and hospitality projects. Craft Construction Company filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Fla. Case No. 26-15967) on May 7, 2026, listing $1 million to $10 million in both assets and liabilities. The petition was signed by Barry Craft as managing member. Judge Peter D Russin presides over the case. Zach B. Shelomith, Esq. at SHELOMITH LAW serves as the Debtor's counsel. CRAFTEDWILD INC: Case Summary & 14 Unsecured Creditors ------------------------------------------------------ Debtor: CraftedWild Inc 1021 Butterfield Rd. Vernon Hills, IL 60061 Business Description: CraftedWild is a full-service cabinetry manufacturer and retailer based in Vernon Hills, Illinois. The company provides cabinetry design, manufacturing, retail, and project fulfillment services, including kitchen cabinetry, closets and wardrobes, built-ins, and millwork. CraftedWild's process includes assessment, estimating, proposal preparation, engineering, procurement, delivery coordination, and installation coordination for cabinetry projects. Chapter 11 Petition Date: June 3, 2026 Court: United States Bankruptcy Court Northern District of Illinois Case No.: 26-09442 Debtor's Counsel: Alexander Tynkov, Esq. ZALUTSKY & PINSKI, LTD. 111 W. Washington, Suite 1550 Chicago, IL 60602 Tel: 312-782-9792 Fax: 312-782-0483 E-mail: admin@ZAPLawFirm.com Total Assets: $148,756 Total Liabilities: $1,359,098 The petition was signed by Kirill Kiperman as CEO. A full-text copy of the petition, which includes a list of the Debtor's 14 unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/5GBPNAY/CraftedWild_Inc__ilnbke-26-09442__0001.0.pdf?mcid=tGE4TAMA CREEKSIDE SPRINGS: Seeks to Hire United Food & Beverage as Broker ----------------------------------------------------------------- Creekside Springs, LLC and its affiliates seek approval from the U.S. Bankruptcy Court for the Western District of Pennsylvania to employ United Food & Beverage as broker. The firm will market and sell the assets and that Broker's retention is in the best interests of the Debtor's estate and its creditors. The firm will be paid at a 10% commission on the gross selling price of the assets. As disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Jeremy Sanders 319 South Center Street, Hildebran, NC 28637 Tel: (843) 622-8434 Email: jeremy@unitedfoodandbeverage.com About Creekside Springs, LLC Creekside Springs, LLC, founded in 2003 and based in Ambridge, Pennsylvania, produces and distributes spring, purified, distilled, and enhanced water products. The company operates manufacturing facilities in Pennsylvania and Ohio and provides private-label and contract packaging services for retailers, distributors, and institutional clients. Its operations include water sourcing, purification, bottling, and packaging across single-serve and large-capacity containers. Creekside Springs, LLC filed its voluntary petition for Chapter 11 protection (Bankr. W.D.P.A. Case No. 26-21138-GLT) on April 22, 2026, listing $1 million to $10 million in assets and liabilities. James J. Sas, president of Creekside Springs, LLC, signed the petition. Brent Lemon, Esq. of WH BURKLEY, LLP serve as the Debtor's legal counsel. CRONLY BLUFFS: Ciara Rogers Named Subchapter V Trustee ------------------------------------------------------ Brian Behr, the U.S. Bankruptcy Administrator for the Eastern District of North Carolina, appointed Ciara Rogers, Esq., as Subchapter V trustee for Cronly Bluffs LLC. Ms. Rogers is a partner at Waldrep Wall Babcock & Bailey, PLLC. She will be paid an hourly fee of $375 for her services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. The Subchapter V trustee can be reached at: Ciara L. Rogers, Esq. Waldrep Wall Babcock & Bailey, PLLC 3600 Glenwood Avenue, Suite 210 Raleigh, NC 27612 Phone: (984) 480-2005 Email: crogers@waldrepwall.com About Cronly Bluffs LLC Cronly Bluffs, LLC is a North Carolina real estate holding company that owns rural land and related real estate assets in Columbus County, including Delco Road acreage, solar-farm parcels, the Kelly House property and an access road. Cronly Bluffs sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. N.C. Case No. 26-02381) on May 28, 2026, with $1 million to $10 million in assets and $500,001 to $1 million in liabilities. Judge Joseph N. Callaway presides over the case. Clint S. Morse, Esq., at Brooks, Pierce, Mclendon, Et Al represents the Debtor as legal counsel. CYTTA CORP: Sadler Gibb Dismissed; RBSM LLP Named as New Auditor ---------------------------------------------------------------- Cytta Corp. announced in a regulatory filing that the Board of Directors dismissed Sadler, Gibb and Associates, LLC as the Company's independent registered public accounting firm. During the Company's fiscal year ended September 30, 2025, Sadler's engagement by the Company consisted of conducting reviews of the Company's quarterly financial statements for the periods ending December 31, 2024, March 31, 2025, and June 30th, 2025, and there were no reportable events (as defined in Item 304(a)(1)(v) of Regulation S-K). Sadler had not completed its audit procedures or issued any reports on the Company's September 30, 2025, Financial Statements. Appointment of a New Independent Registered Public Accounting Firm Following Sadler's dismissal, the Board approved the appointment of RBSM LLP. as the Company's new independent registered public accounting firm commencing for its fiscal year ending September 30, 2025. In connection with the Company's appointment of RBSM as the Company's independent registered public accounting firm, the Company has not consulted RBSM on any matter relating to either (i) the application of accounting principles to a specific transaction, either completed or contemplated, or the type of audit opinion that might be rendered on the Company's financial statements or (ii) any matter that was the subject of a disagreement (as that term is defined in Item 304(a)(1)(iv) of Regulation S-K and the related instructions) or a "reportable event" (as that term is defined in Item 304(a)(1)(v) of Regulation S-K). During the Company's two most recent fiscal years ended September 30, 2024, and 2023, and the subsequent interim periods through June 30, 2025, neither the Company nor anyone acting on its behalf consulted with RBSM regarding any of the matters described in Items 304(a)(2)(i) and (ii) of Regulation S-K. About Cytta Corp Cytta Corp., headquartered in Las Vegas, Nevada, is focused on developing and marketing advanced streaming and integrated communication products, using technology based upon the SUPR (Superior Utilization of Processing Resources) video compression codec/algorithm and its IGAN (Incident Global Area Network) incident command proprietary software solutions. Cytta currently develops, markets, and distributes proprietary video streaming products and services that improve how video is streamed, consumed, transferred, and stored in enterprise environments. Hackensack, New Jersey-based Prager Metis CPAs, LLC, the Company's former auditor, issued a "going concern" qualification in its report dated Jan. 14, 2025. The report cited that, as of Sept. 30, 2024, the Company had an accumulated deficit of $36.87 million and has generated losses since inception. These factors, among others, raise substantial doubt about the Company's ability to continue as a going concern. As of June 30, 2025, the Company had $5.85 million in total assets, $1.41 million in total liabilities, and $4.04 million in total stockholders' equity. The Company has not yet filed its Quarterly Report on Form 10-Q for the quarter ended December 31, 2025. DANLERIE FREIGHT: Hires Tang & Associates as Bankruptcy Counsel --------------------------------------------------------------- Danlerie Freight Inc. seeks approval from the U.S. Bankruptcy Court for the Central District of California to employ Tang & Associates as general bankruptcy counsel. The firm will provide these services: a. advise Debtor on matters relating to administration of the Estate, and on the applicant's right 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 applicant's interest in suit arising in or related to this case, including any adversary proceeding 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. d. represent Debtor in any adversary proceeding to recover assets of the bankruptcy estate. The firm will be paid at these rates: Counsel $500 per hour Paralegal and law clerk services $200 per hour The firm was paid the agreed retainer in the amount of $25,000. In addition, the firm will seek reimbursement for its out-of-pocket expenses. Mr. Tang, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Kevin Tang, Esq. Tang & Associates 17011 Beach Blvd., Ste. 900 Huntington Beach, CA 9264 7 Tel: 714) 594-7022 Fax:(714) 594-7024 Email: kevin@tang-associates.com About Danlerie Freight Inc. Danlerie Freight Inc. is a transportation and logistics company engaged in freight hauling and related shipping services. Danlerie Freight filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. Case No. 26-14061) on April 27, 2026. In its petition, the Debtor reports estimated assets ranging from $100,001 to $500,000 and estimated liabilities ranging from $1 million to $10 million. Honorable Bankruptcy Judge Sheri Bluebond handles the case. The Debtor is represented by Kevin Tang, Esq., at Tang & Associates. DE'NSITE INC: Hires Modestas Law Offices as Bankruptcy Counsel -------------------------------------------------------------- De'nsite Inc seeks approval from the U.S. Bankruptcy Court for the Northern District of Illinois to employ Modestas Law Offices, P.C. as bankruptcy counsel. The firm will provide these services: a. negotiation with creditors; b. preparation of a plan and financial statements; c. examining and resolving claims filed against the estate; d. preparation of pleadings filed in the case; e. interaction with the trustee in this case; f. attendance at court hearings; and g. otherwise to represent the Debtor in matters before the Court. The firm will be paid at the rate of $535 per hour. The firm received a retainer in the amount of $9,000 in attorney fees for which amount shall be deemed earned when paid and has also advanced $1,738 for the court filing fee. In addition, the firm will seek reimbursement for its out-of-pocket expenses. Mr. Moedestas 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: Salius Modestas Modestas Law Offices, P.C. 401 S. Frontage Road, Ste. C Burr Ridge, IL 60527 Tel: (312) 251-4460 Email: smodestas@modestaslaw.com About De'nsite Inc De'nsite Inc filed a Chapter 11 bankruptcy petition (Bankr. N.D. Ill. Case No. 25-11428) on July 27, 2025. The Debtor hires Modestas Law Offices, P.C. as counsel. EAST WEST MANUFACTURING: S&P Affirms 'B-' ICR, Outlook Stable ------------------------------------------------------------- S&P Global Ratings affirmed its 'B-' issuer credit rating on Integrated manufacturing services provider East West Manufacturing LLC. S&P also assigned its 'B-' issue-level and '3' recovery ratings on East West's new $500 million, six-year term loan and $75 million, five-year revolving credit facility. The stable outlook reflects S&P's expectation that while East West's leverage will be elevated and free operating cash flow (FOCF) will be negative after the acquisition, S&P expects its leverage to decline below the mid-5x area and that it will generate positive FOCF in 2027 and beyond due to stable underlying end customer demand at East West, strong expected growth at Vexos this year, and improving profitability. East West Manufacturing LLC entered into an agreement to acquire electronics manufacturing services (EMS) provider Vexos Inc. It will fund this transaction with a new $75 million revolving credit facility, $500 million first-lien term loan B, and equity contribution. S&P expects East West's EBITDA margin expansion can decrease leverage over the next year, despite leverage increasing for its debt-funded acquisition of Vexos. East West focuses on high-complexity products and low-volume products that usually require higher-end engineering capabilities. Due to that focus, it has achieved higher EBITDA margins compared with other EMS providers focused on lower-complexity products and higher-volume EMS products. After its debt-funded acquisition of EMS company Vexos, East West's starting leverage will increase to almost 6x. However, S&P expects strong top-line growth and mid-teen percent EBITDA margins will allow leverage to decline to the mid-5x area by year-end 2026, supported by stable customer demand for East West on new business growth. Vexos' EBITDA margins should also improve as it rolls off one-time restructuring costs in 2026. Over the past year, East West continued to expand its EBITDA margins. It focused on cost savings initiatives, plant consolidation, and operational efficiencies such that its EBITDA margins improved to the mid-teens percent area. This, along with stable top-line growth, allowed leverage to decrease to the mid-4x area as of year-end 2025. S&P expects pro forma East West to generate good top-line growth in 2026, on strong end customer demand at Vexos.Revenue for both East West and Vexos declined in 2023 and 2024 on elevated inventory issues that led to weak demand. However, demand improved in 2025 due to inventory level normalization and new customer wins. Because of this, pro forma East West's revenue grew in the mid-single-digit percent area in 2025. In 2026, S&P expects demand to be even stronger for East West's pro forma business as market conditions remain favorable. S&P forecasts Vexos will generate very strong growth on expanded share gains and backlog conversion. This will drive strong pro forma top-line growth in the mid-teens percent area in 2026 before normalizing in 2027 and beyond. The Vexos acquisition should incrementally improve East West's business profile. Before the addition of Vexos, its top 5 customer revenue was more than 35% in 2025. However, this acquisition will allow East West to lower this to below 30%, allowing it to better absorb volatility from a decline in demand from a single customer. The company will also expand into more North American manufacturing sites from the Vexos acquisition and through organic investment, which should reduce its exposure to manufacturing in Vietnam and improve its manufacturing country risk. East West has more than doubled its EBITDA generation in the past two years due to its focus on profitability. This, along with the Vexos acquisition, improves the company's scale as it competes in the highly fragmented EMS market. S&P said, "We expect positive FOCF in 2027 as one-time costs roll off. East West generated positive FOCF as it monetized its working capital over the past few years. After its acquisition of Vexos, we expect its FOCF generation to be hampered in 2026 by one-time acquisition and restructuring costs. "We also expect working capital use to be about $25 million as it invests in its inventory and receivables for expected strong growth in 2026. This, along with capital requirements of about 2% of revenue, should drive an FOCF deficit of more than $20 million in 2026. However, we believe its roughly $80 million of total liquidity will be sufficient to support the company. "We anticipate East West will improve FOCF generation in 2027. As its one-time costs roll off, we forecast it will achieve cost and supply chain synergies tied to the Vexos acquisition. We also expect its working capital use to decrease as growth in future year slows. We expect capital expenditure (capex) to remain about 2% of revenue such that it generates more than $10 million of FOCF in 2027. "The stable outlook reflects our expectation that while East West's leverage will be elevated and FOCF generation will be negative after the acquisition, we expect leverage to decline below the mid-5x area, and that it will generate positive FOCF in 2027 and beyond due to stable underlying end customer demand at East West, strong expected growth for Vexos this year, and improving profitability. "We could lower the rating if we believe East West's capital structure is unsustainable. This could be due to a large decline in customer demand, integration issues from acquisitions, prolonged semiconductor supply chain constraints, or a tougher macroeconomic environment such that East West generates negative FOCF after debt service. We could also consider a downgrade if its total liquidity approaches $20 million. "While unlikely over the next 12 months, we could raise the rating if we expect East West will maintain leverage below 6x and FOCF above $20 million without the aid of working capital monetization. We would need to believe the company could maintain these levels through industry cycles and given its appetite for acquisitions and desire to return capital to shareholders. This could occur if end-customer demand improves and the company further expands its EBITDA margin profile as a result of its cost saving initiatives." ECHOSTAR CORP: Skips Interest Payment Pending AT&T Deal Closing --------------------------------------------------------------- EchoStar Corporation announced in a regulatory filing that it has elected not to make approximately $183 million in cash interest payments due on June 1, 2026 with respect to its DISH DBS Corporation subsidiary's 5.25% secured notes due 2026, 5.75% secured notes due 2028 and 5.125% unsecured notes due 2029 comprised of approximately $72.2 million under the 2026 Notes, $71.9 million under the 2028 Notes and $38.4 million under the 2029 Notes. Under each of the indentures governing the DBS Notes, such non-payment is a default and the Company has a 30-day grace period to make the Interest Payments before such non-payment constitutes an Event of Default (as such term is defined in the DBS Notes Indenture) with respect to the DBS Notes. EchoStar elected not to make the Interest Payments on the due date to defer liquidity utilization pending the receipt of net closing proceeds of $20.25 billion from the AT&T Transactions. The AT&T Transactions have received regulatory approvals from both the Federal Communications Commission (FCC) and the Department of Justice (DOJ); however, the FCC's approval remains subject to the FCC's order becoming final. Consummation of the AT&T Transactions remains subject to the satisfaction or waiver of certain other closing conditions as described in EchoStar's Current Report on Form 8-K filed on August 26, 2025, available at https://tinyurl.com/4ystvp9n About EchoStar Corporation EchoStar Corporation (Nasdaq: SATS) -- www.echostar.com -- is a provider of technology, networking services, television entertainment, and connectivity, offering consumer, enterprise, operator, and government solutions worldwide under its EchoStar, Boost Mobile, Boost Infinite, Sling TV, DISH TV, Hughes, HughesNet, HughesON, and JUPITER brands. In Europe, EchoStar operates under its EchoStar Mobile Limited subsidiary, and in Australia, the Company operates as EchoStar Global Australia. As of December 31, 2025, the Company had $43 billion in total assets and $37.2 billion in total liabilities, and total stockholders' equity of $5.8 billion. * * * In Sept. 2025, S&P Global Ratings placed its 'CCC+' Company credit rating on Echostar Corp. and all subsidiaries on CreditWatch with positive implications. S&P also placed the issue-level ratings on Echostar and all its subsidiaries' secured and unsecured debt on CreditWatch with positive implications. S&P plans to resolve the CreditWatch following close of the transaction, expected in mid-2026. EDMUNDSON INC: Plan Exclusivity Period Extended to July 17 ---------------------------------------------------------- Judge Joseph G. Rosania, Jr. of the U.S. Bankruptcy Court for the District of Colorado extended Edmundson Inc., d/b/a Arbor Valley Nursery and Edmundson Land LLC's exclusive periods to file a plan of reorganization and obtain acceptance thereof to July 17 and Sept. 15, 2026, respectively. As shared by Troubled Company Reporter, the Debtors explain that applying the pertinent factors here demonstrates that the requested extensions of the exclusive periods is appropriate: * the size and complexity of the chapter 11 matters. Debtors scheduled assets with book and market values of more than $18.6 million in the aggregate, secured and unsecured debts totaling approximately $28.1 million of approximately 154 creditors. These bankruptcy cases are further affected and complicated by the events unfolding as to the affiliated entities and the DCA cases. * the necessity of sufficient time to allow the debtor to negotiate a plan of reorganization. Due to recent negotiations with the Committee's counsel and AAC which resulted in the Amended Final Order, and the complexity of the plan, Debtors will be unable tofinish crafting a plan prior to May 4, 2026, and will need additional time to formulate the plan and analyze the claims filed. * the existence of good faith progress toward reorganization. Debtors have been in close touch with both the Committee and AAC through their respective counsel, and various creditors since the Petition Date. Among other things, Debtors have provided bi-weekly reporting to AAC and the Committee. Further, Debtors have resolved a motion for relief from stay and worked with other creditors, including equipment vendors, to resolve disputes. * the fact that the debtor is paying its bills as they become due. Debtors are current with their postpetition obligations. * whether the debtor has demonstrated reasonable prospects for filing a viable plan. Debtors were able to resolve the Committee's Reconsider Motion and negotiate the Amended Final Cash Collateral Order with the Committee and AAC. Further, Debtors have provided, and will continue to provide, bi-weekly reporting to AAC and the Committee. Debtors are also current with filing their monthly operating reports and with payments to the U.S, Trustee. All of the above, demonstrates the Debtors have a reasonable prospect for filing and confirming a viable plan. Counsel to the Debtors: J. Brian Fletcher, Esq. Alice A. White, Esq. Onsager Fletcher Johnson Palmer, LLC 600 17th Street, Suite 425N Denver, CO 80202 Tel: (720) 457-7061 Email: jbfletcher@OFJlaw.com awhite@OFJlaw.com About Edmundson, Inc. Edmundson, Inc. is a Colorado-based corporation engaged in nursery and garden center retail and wholesale operations, offering plants, landscaping supplies, and related products. The Company operates nursery facilities in Brighton, which serves as its headquarters, as well as Fort Collins and Franktown, serving residential and commercial customers throughout Colorado. Edmundson, Inc. and Edmundson Land LLC filed their voluntary petitions for relief under Chapter 11 of the Bankruptcy Code (Bankr. D. Colo. Case Nos. 26-10019 & 26-10021, respectively) on January 2, 2026, listing $10 million to $50 million in both assets and liabilities. The petitions were signed by Matthew Edmundson as CEO and member. J. Brian Fletcher, at ONSAGER FLETCHER JOHNSON PALMER LLC, serves as the Debtor's counsel. ELITE EQUIPMENT: Taps Jeff Martin Auctioneers Inc as Auctioneer --------------------------------------------------------------- Elite Equipment Leasing, LLC and its affiliates seek approval from the U.S. Bankruptcy Court for the District of Montana to employ Jeff Martin Auctioneers, Inc. as auctioneer. JMA has provided and will provide professional marketing and auction services in connection with the Equipment. Marketing includes targeted marketing campaigns to reach qualified buyers within the crane, heavy construction, and specialized transport industries. Services include but are not limited to inspection, photography, targeted global marketing, auction listing, catalog preparation, buyer registration, auction sale execution, payment collection, and settlement coordination. JMA will be compensated through a 5% commission on the hammer price of all lots successfully sold and collected. JMA will also charge a buyer's premium of 10% per lot, not to exceed $3,500 per lot regardless of the method of bidding (live, online, or absentee). As disclosed in the court filings, Jeff Martin Auctioneers is a disinterested person as defined in 11 U.S.C. Section 101(14). The firm can be reached through: Peter Gehres Jeff Martin Auctioneers, Inc. Reppert Auction School PO Box 6 Auburn, IN 46706 Phone: (260) 927-1234 About Elite Equipment Leasing Elite Equipment Leasing, LLC is a Billings, Montana-based crane rental group. Elite Equipment Leasing and its affiliates filed Chapter 11 petitions (Bankr. D. Mon. Lead Case No. 25-10145) on September 7, 2025. In its petition, Elite Equipment Leasing reported between $10 million and $50 million in assets and liabilities. Judge Benjamin P. Hursh oversees the cases. The Debtors tapped James A. Patten, Esq., at Patten, Peterman, Bekkedahl & Green, PLLC and Lesnick Prince Pappas & Alverson LLP as legal counsel; Garrett Stiepel Ryder, LLP as special corporate and transactional counsel; SierraConstellationPartners, LLC as financial advisor; and Epiq Corporate Restructuring, LLC as claims agent. The U.S. Trustee appointed an official committee of unsecured creditors in these Chapter 11 cases. The committee tapped Billstein, Monson & Small PLLC and Dykema Gossett PLLC as counsel. EMMA BUYER: S&P Assigns 'B' Rating on Acquisitions of Emerald ------------------------------------------------------------- S&P Global Ratings assigned its 'B' issuer credit rating to Emma Buyer LLC. S&P will withdraw the issuer and issue-level ratings on Emerald X at close of the transaction. It also assigned its 'B' issue-level rating and '3' recovery rating to the proposed revolving credit facility, term loan B, and delayed-draw term loans. The stable outlook reflects S&P's expectation that Emma Buyer will increase revenues in the low- to mid-single-digit percent range, generate good free cash flow, and reduce leverage to the 6.5x-7x range over the next 12-18 months. Emma Buyer, a newly formed holding company owned by Apollo Global Management Inc., is acquiring Emerald Holding Inc. and Questex LLC in separate transactions and plans to combine the businesses. Emma Buyer plans to issue a $175 million revolving credit facility, $765 million term loan B, $200 million delayed-draw term loan B, all due in 2033, and common equity to fund the acquisitions of Emerald and Questex, pay fees and expenses, and add cash to the balance sheet. The company is also putting in place another $100 million delayed-draw term loan B facility, unfunded at transaction close. S&P said, "Our 'B' issuer credit rating reflects Emma Buyer's enhanced scale and market position, high leverage pro forma for the financing, and financial sponsor ownership. Emma Buyer is acquiring Emerald and Questex in separate transactions and plans to combine the businesses. We forecast pro forma S&P Global Ratings-adjusted leverage will be elevated in the low- to mid-7x area at fiscal 2026 year-end, then improve to 6.5x-7x in 2027. Revenue and EBITDA growth will come in the underlying businesses and from improved operating efficiencies and some cost synergies. To calculate adjusted debt, we include operating leases and contingent consideration liabilities of about $130 million for performance earnouts related to previous acquisitions due by both companies over the next two years." The combined entities will enhance Emma Buyer's scale and diversity. Its competitive position has strengthened through enhanced scale and diversity in end markets with minimal overlap across the businesses, compared to Emerald X on a stand-alone basis. The company will be the largest independent U.S. business-to-business trade show and events operator, with about 165 events and 40 media properties diversified across high-growth end markets such as hospitality and design; technology, media, and telecom life sciences; and luxury. Emma Buyer operates in a highly fragmented market and despite increased scale, still smaller than global peers such as Informa PLC, RX (part of RELX Inc.), and Clarion Events. In addition to increased scale, we expect margin improvement as the company achieves expected $30 million of run-rate synergies within two years of transaction close through operational efficiencies and cost reductions mainly related to headcount. S&P expects Emma Buyer to fully realize the synergies and S&P Global Ratings-adjusted EBITDA margins in the 27% area, up from about 24% in 2025. Emma Buyer holds the No. 1 or No. 2 position in top 20 brands, providing good recurring revenue and visibility for the next year. Retention rates are high at about 83% for top events, and 60% of exhibitors rebook onsite for the following year's events and approximately 90% of revenue is collected four months prior to an event. As a result, over 70% of 2026 revenue is already booked for the year. It has some revenue concentration, with its top five shows accounting for about 19% of revenues. S&P said, "We expect healthy free operating cash flow (FOCF). The company benefits low capital expenditure and generally favorable working capital. Cash is collected well in advance of the cost incurred closer to and after an event, therefore most of its EBITDA converts to FOCF. We expect $70 million-$90 million of reported FOCF or adjusted FOCF to debt of 7%-9% in 2027. The company will continue to use most of its FOCF for investments, acquisitions, and earnout payments related to previous acquisitions." The trade show business is sensitive to economic cycles and business travel. Demand tends to have a broad correlation to macroeconomic conditions and business confidence. Operators such as Emma Buyer can be significantly impaired during economic cycles because most shows take place only once a year, and a postponement or cancellation could have a substantial impact. In addition, location changes that affect customer experience could also constrain operating performance in the next calendar year. Emma Buyer's profitability could also be hindered if customers curtail their budgets for nonessential business travel and advertising. A prolonged Middle East conflict and macroeconomic concerns, particularly in the U.S., could slow growth. S&P Global Ratings believes there is a high degree of unpredictability around the duration and scale of the Middle East war and its potential effect on commodity prices, supply chains, economies, and credit conditions. S&P believes the probability of a U.S. recession over the next 12 months has increased to 30% from about 20% before the war. S&P said, "The stable outlook on Emma Buyer reflects our expectation that its revenue and earnings will continue to increase organically, supported by the integration and realized cost synergies from the proposed business combination over the next 12-18 months. This would expand S&P Global Ratings-adjusted EBITDA margin and strengthen cash flow conversion to fund earnout payments and additional acquisitions. We forecast leverage in the 6.5x-7x range, EBITDA interest coverage of 2x-2.5x, and FOCF to debt above 5%." S&P could lower its rating on Emma Buyer if S&P Global Ratings-adjusted debt to EBITDA remains above 7x and FOCF to debt declines below 5% on a sustained basis. This could occur if: -- Macroeconomic headwinds and inflationary pressures depress trade show demand due to reduced marketing spending and business travel; -- Debt-financed or underperforming acquisitions; or -- Debt-financed dividends to the financial sponsor. S&P could raise its ratings if the company: -- Adheres to a financial policy such that we believe it could sustain S&P Global Ratings-adjusted gross leverage under 5.5x, with sufficient cushion to weather revenue and EBITDA volatility from an economic downturn and leveraging transactions; or -- Expands its EBITDA base and diversifies its end markets through consistent organic revenue growth, accretive acquisitions, and EBITDA margins improving above 30%. EMPIRE FACILITY: Unsecureds Will Get 100% over 3 Years ------------------------------------------------------ Empire Facility Management LLC d/b/a Empire Facility Management and d/b/a Empire Facility filed with the U.S. Bankruptcy Court for the Northern District of New York a Plan of Reorganization under Subchapter V dated May 28, 2026. The Debtor was incorporated on November 15, 2023, as a limited liability company under the laws of the State of New York and maintains its principal place of business at 215 Washington Street, Suite 110, Watertown, New York 13601 ("Business Location"). The Debtor took five of these MCA loans from: (a) Byzfunder in the amount of $108,000 on July 8, 2025; (b) Smarter Merchant in the amount of $116,000 on September 16, 2025; (c) Life Time in the amount of $67,050 on October 20, 2025; (d) Nexi in the amount of $285,377.40 on November 6, 2025; and (e) Genesis Equity Group Funding LLC in the amount of $67,455.00 on February 3, 2026 (collectively, "Disputed Creditors" or "Disputed Claims"). Despite these MCA loans, the Debtor continued to struggle daily prepetition to meet its financial obligations. The difficulty was compounded by the Disputed Creditors automatically debiting large amounts on a daily and weekly basis from the Debtor's account draining the Debtor, making it unable to function and operate its business. The Debtor faced significant challenges in meeting its financial obligations despite securing multiple loans, which ultimately prompted the Debtor to explore alternative solutions, such as the instant bankruptcy filing to address the growing financial strain. The Debtor sought the breathing spell of the bankruptcy process to alleviate the heavy burden of the weekly and biweekly payments to the Disputed Creditors and other loans and possibly shedding the Disputed Claims. The Debtor's goal is to focus its efforts on regaining its footing and making the business profitable to generate sufficient funds that would enable a sizable distribution to the Debtor's creditors if not a 100% distribution. The Plan proposes to pay creditors of the Debtor from funds generated by the Debtor's operations as a going concern. The Plan provides for the full payment of Allowed Priority Claims in accordance with the Bankruptcy Code. General unsecured creditors holding Allowed Claims will receive distributions of the Debtor's projected disposable income on a quarterly basis for the years ended 2027, 2028, and 2029, as set forth in Exhibit B over a period of three years from the Effective Date. The Debtor reasonably estimates that the total recovery to holders of Allowed General Unsecured Claims will be approximately one hundred percent, but the actual distribution(s) percentage will depend on the total final Allowed General Unsecured Claims, recovery on avoidance actions, and potential postconfirmation costs should the Plan be confirmed non consensually under Section 1191(b) of the Bankruptcy Code. The Plan further provides for the continued retention of Equity Interests. Class 3 of the Plan are the Allowed General Unsecured Claims against the Debtor. Each holder shall be paid up to one hundred percent of their claim from the disposable income of the Debtor for a period of three years. This Class is unimpaired. Class 4 represents the equity interest of the Debtor, which is comprised of Noah Hodge who holds 100% ownership interest in the Debtor. Upon the Effective Date of the Plan, Mr. Hodge will retain his interest in the Debtor. On the Effective Date, the Debtor will use cash in its debtor-in-possession bank account to fund payments of Allowed Priority Tax Claims and Allowed Administrative Expense Claims. The Debtor intends to continue its operations and utilize its disposable income over three years to fund this Plan. In the event the Court approves this Plan as a consensual Plan, then the Reorganized Debtor shall be the Disbursing Agent responsible for making all post-Confirmation payments that are required under the Plan. In the event the Court approves this Plan by cramdown, the Debtor will also be the Disbursing Agent. A full-text copy of the Plan of Reorganization dated May 28, 2026 is available at https://urlcurt.com/u?l=jtisFG from PacerMonitor.com at no charge. Counsel to the Debtor: Jeb Singer, Esq. J. Singer Law Group, PLLC 1 Liberty Plaza, 23rd Floor New York, NY 10006 Telephone: (917) 806-5832 Email: jsinger@jsingerlawgroup.com About Empire Facility Management Empire Facility Management, LLC operates a full-service commercial cleaning and facility management business providing janitorial, landscaping, snow removal, handyman, and related services. Empire sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. N.Y. Case No. 26-30137) on February 27, 2026, with between $100,001 and $500,000 in both assets and liabilities. Empire President Noah Hodge signed the petition. Jeb Singer, Esq., at J. Singer Law Group, PLLC, is the Debtor'9s legal counsel. ERC TOPCO: Golub Capital Marks $8MM Loan at 20% Off --------------------------------------------------- Golub Capital BDC, Inc. has marked its $8,076,000 loan extended to ERC Topco Holdings, LLC to market at $6,461,000 or 80% of the outstanding amount, according to Golub Capital BDC's 10-Q for the fiscal year ended March 31, 2026, filed with the U.S. Securities and Exchange Commission. Golub Capital BDC, Inc. is a participant in a one stop loan extended to ERC Topco Holdings, LLC. The Loan accrues interest at a rate of SF + 6.50 % (j) 10.46 % PIK per annum. The Loan matures on March 1, 2030. Golub Capital BDC, Inc. is a business development company that provides financing solutions to middle-market companies. The Fund is led by David B. Golub as Chief Executive Officer (Principal Executive Officer) and Christopher C. Ericson as Chief Financial Officer (Principal Accounting and Financial Officer). The Fund can be reached at: David B. Golub Golub Capital BDC, Inc. 200 Park Avenue, 25th Floor New York, NY 10166 Telephone: (212) 750-6060 About ERC Topco Holdings, LLC ERC Topco Holdings, LLC appears to operate a one-stop service or retail platform, providing customers with a broad range of products or solutions under a single corporate umbrella. FAIR ISAAC: S&P Affirms 'BB+' Issuer Credit Rating, Outlook Stable ------------------------------------------------------------------ S&P Global Ratings affirmed all its ratings on Fair Isaac Corp. (FICO), including the 'BB+' issuer credit rating and its issue-level ratings on its debt. The stable outlook reflects S&P's view that the company will pause its share repurchases, repay debt, and continue to increase its EBITDA such that its leverage falls below 3.0x by the second half of fiscal 2027. FICO, a global provider of decision data analytics and software and service solutions, issued a $1.5 billion term loan A due 2028 (not rated), which it intends to use to fund its accelerated share repurchase program. S&P said, "We estimate the company's pro forma leverage will likely spike to nearly 4.0x for the 12 months ending June 30, 2026, from 2.6x as of the end of March, though we expect it to deleverage below 3.0x in its fiscal year ending Sept. 30, 2027, as it pauses its share repurchases and repays debt. However, further debt-funded share repurchases could pressure our ratings on FICO. "We believe the leverage increase will be temporary. FICO will use the proceeds from its new $1.5 billion term loan A to fund a $1.5 billion accelerated share repurchase program, pulling forward about 18-24 months of expected share repurchases. This will increase the company's leverage to about 3.9x, which is well above our 3.0x downgrade threshold for the current rating. However, we affirmed our rating because we expect FICO will pause its share repurchases and use its cash flow to repay debt until its leverage falls back below 3.0x. The faster amortization on the term loan A, its two-year maturity, and the company's predictable cash flows give us confidence that the company will repay the debt quickly. Therefore, we forecast FICO will return its leverage to the high-2x area by the third quarter of fiscal 2027 (13 months from now) and back to the mid-2x area (where it was prior to the proposed term loan issuance) by the end of fiscal 2027. "Further debt-funded share repurchases could pressure the rating. While not part of our base-case forecast, we could lower our rating on the company if it undertakes additional debt-funded share repurchases before repaying the term loan A because we would view this as credit negative and indicative of a more-aggressive financial policy. "FICO exceeded our expectations in the March quarter. The company increased its revenue and S&P Global Ratings-adjusted EBITDA by 39% and 54%, respectively, in its second quarter. All of FICO's segments posted positive results, though the primary impetus for its outperformance was the Scores segment, which benefitted from robust growth in mortgages stemming from both increased origination volumes and better pricing. The company benefitted from lower mortgage rates during most of the quarter, though rates have since risen because of the Iran war, leading us to expect the volume trend will moderate in the second half. Still, we expect FICO will continue to generate significant revenue growth from higher prices." FICO is well positioned to maintain its dominant position in the mortgage credit scoring market, though its higher pricing could lead to more competition from VantageScore. The company introduced its Direct Licensing Program (DLP) to mortgage resellers in October 2025. The program allows resellers to calculate and distribute FICO scores directly to lenders instead of purchasing the scores through the credit bureaus. Because the company's DLP threatens the status quo of how credit bureaus sell their credit data packages (including FICO scores) to lenders, the bureaus are promoting their own scoring tool, VantageScore, by offering it at a lower price than a FICO score or, in some cases, for free with the purchase of a FICO score. The FICO score has historically held about 90% market share, though the Federal Housing Finance Agency recently approved VantageScore for use with conforming mortgages. S&P said, "We believe the credit bureaus aggressive marketing of VantageScore could increase adoption. Still, we believe it will be difficult for VantageScore to gain much share over the next few years, given the industry's dependence on FICO, and its success will rely heavily on its relative performance against both classic FICO and, critically, FICO 10T." Moreover, FICO 10T's strong early adoption in the nonconforming market (roughly half of the total market), in which lenders have greater flexibility in score selection, supports this view. FICO has reported FICO 10T's use by more than 50 lenders representing nearly $500 billion in originations. S&P said, "The stable outlook reflects our view that FICO will pause its share repurchases, repay debt, and continue to increase its EBITDA such that its leverage falls below 3.0x by the second half of fiscal 2027. "We could lower our ratings on FICO if it undertakes additional shareholder distributions before returning its leverage below 3x because this would indicate a more-aggressive financial policy. We could also lower our ratings on the company if its leverage remains elevated because of weaker operating performance, possibly stemming from increased competition from VantageScore, or it is unable to continue increasing prices." While unlikely over the next 12 months, S&P could raise its ratings on FICO if: -- It sustains S&P Global Ratings-adjusted leverage below 2x while significantly increasing its revenue scale and improving the diversity of its product streams and end markets; and -- It shifts its financial policy such that S&P expects it will maintain these improved metrics over the long term. FLUOR CORP: S&P Affirms 'BB+' ICR on Sound Financial Flexibility ---------------------------------------------------------------- S&P Global Ratings affirmed its issuer credit and issue-level ratings on Fluor Corp. at 'BB+'. The stable outlook reflects its expectation that Fluor will maintain strong liquidity with high cash balances, resulting in S&P Global Ratings-adjusted debt to EBITDA remaining below 1.5x. Fluor Corp.'s front-end work and recent awards suggest an uptick in activity later in 2026 and into 2027. However, geopolitical tensions pose a risk to customers' capital spend, limiting visibility into the timing for top-line expansion. Fluor's liquidity and low leverage underpin strong financial flexibility to weather temporary underperformance. S&P expects Fluor's sluggish operating performance to persist through 2026, but assume a material rebound in 2027. Over the past few months, Fluor announced several awards it expects will accelerate growth in the second half of 2026 and 2027, including the limited notice to proceed on LNG Canada Phase 2 and TeraWulf's large-scale data center campus. If moved to execution phase, awards could potentially convert to multiyear mega projects that would fuel revenue growth over the next several years. S&P said, "In our view, the company should generate improved earnings and cash flow next year, as it moves past challenges faced in 2025 that are expected to persist through much of this year. Customer capital spending delays, project completions exceeding new awards and litigation costs and project-cost growth, contribute to weak earnings. We expect sluggish performance to persist this year, with flat revenue growth in 2026 (based on reported revenue, which includes the revenue reversal resulting from the Santos litigation), before improving next year. "We forecast a material rebound in 2027 driven by critical minerals, life sciences, and energy projects. At the same time, we expect S&P Global Ratings-adjusted EBITDA margins to normalize to 2%-3% through 2027, up from -1.8% in 2025, absent additional outsized charges or revenue reversals such as those experienced in 2025, which could further heighten volatility of profitability. "We believe the Middle East conflict and its macroeconomic implications could push project commencement to the right, posing a risk to top-line visibility and to our forecast. "We expect risk-management policies to mitigate earnings and cash flow volatility. Over the past several years, Fluor has shifted its end-market exposure away from highly cyclical projects toward resilient end markets. As of the first quarter of 2026, its non-Energy Solutions revenue accounted for 83%, up from 67% in 2020. Over the next couple of years, we expect the Energy Solutions segment to fuel growth driven by opportunities across new power generation (gas-fired and nuclear), liquefied natural gas, chemicals, and traditional oil and gas. We expect this will rebalance the company's current reliance from Urban Solutions projects (which include advanced technologies, life science, and mining and metals), such that ample diversification will mitigate end-market-specific headwinds. "In addition, we expect Fluor will continue to pursue contracts with favorable, risk-adjusted terms and maintain a preference for reimbursable cost. As of the first quarter of 2026, reimbursable contracts accounted for 82% of its backlog, up from 45% back in 2020, and it targets maintaining this at 75%, which we believe is a key risk-mitigating strategy for potential cost-overruns. Lastly, Fluor expects to complete three out of four remaining legacy projects in 2026, with estimated required funding of about $200 million this year, largely completing the roll-off of these projects." Fluor's strong liquidity and minimal debt provide ample financial flexibility. The monetization of NuScale generated $2.43 million in gross proceeds, enhancing the company's liquidity. In addition, Fluor completed the sale of its fabrication yard in China for $124 million. S&P believes its liquidity of over $5 billion provides ample financial flexibility to withstand near-term headwinds and maintain its shareholder returns of $1.4 billion as per its guidance in 2026. S&P said, "We expect a free operating cash flow (FOCF) deficit of about $180 million in 2026, incorporating a $400 million tax bill triggered by capital gains on the sale of its equity stake in NuScale and following a $437 million deficit in 2025, largely affected by the $642 million Santos payment. In 2027, we estimate a normalized cash conversion will result in positive FOCF of about $300 million, driven by higher earnings, improved working capital management, and lighter capital expenditure. "We anticipate Fluor will use excess cash flows for niche acquisitions and to return excess capital to shareholders, while adhering to its financial policy of leverage below 1.5x. We expect sustained strong liquidity for contingency reserves to address potential litigation/tax claims and project losses, which supports our ratings on Fluor. "The stable outlook reflects our expectation that Fluor will maintain strong liquidity with high cash balances and positive FOCF that improves next year, resulting in S&P Global Ratings-adjusted debt to EBITDA remaining below 1.5x. "We could lower our ratings on Fluor if its cash balances decline such that it increases leverage over 3x or impairs its ability to sign on new contracts. In this scenario, we would expect a material and consistent contraction in its backlog, without visibility for a rebound over the next 12 months. We would also expect the company to generate sustained cash flow deficits due to earnings weakness." S&P could raise its ratings on Fluor if the company: -- Exhibits a track record of strong performance with sustained backlog and revenue growth at a pace similar to that of peers; -- Increases and sustains EBITDA margins closer to industry averages of at least 6%; and -- Keeps leverage below 1.5x and sustains positive FOCF. FPG INTERMEDIATE: Golub Capital Marks $1.9M Loan at 20% Off ----------------------------------------------------------- Golub Capital BDC, Inc. has marked its $1,987,000 loan extended to FPG Intermediate Holdco, LLC to market at $1,590,000 or 80% of the outstanding amount, according to Golub Capital BDC's 10-Q for the fiscal year ended March 31, 2026, filed with the U.S. Securities and Exchange Commission. Golub Capital BDC, Inc. is a participant in a one stop loan extended to FPG Intermediate Holdco, LLC. The Loan accrues interest at a rate of SF + 5.00 % (j)(k) 8.70 % PIK per annum. The Loan matures on June 30, 2029. Golub Capital BDC, Inc. is a business development company that provides financing solutions to middle-market companies. The Fund is led by David B. Golub as Chief Executive Officer (Principal Executive Officer) and Christopher C. Ericson as Chief Financial Officer (Principal Accounting and Financial Officer). The Fund can be reached at: David B. Golub Golub Capital BDC, Inc. 200 Park Avenue, 25th Floor New York, NY 10166 Telephone: (212) 750-6060 About FPG Intermediate Holdco, LLC FPG Intermediate Holdco, LLC is a holding company that has raised private credit financing, likely to support acquisitions or operations of underlying portfolio businesses. FREIGHT TECHNOLOGIES: Fetch Compute Exits Beneficial Ownership -------------------------------------------------------------- Fetch Compute Inc. disclosed in a Schedule 13G (Amendment No. 1) filed with the U.S. Securities and Exchange Commission that as of May 28, 2026, it has ceased to be the beneficial owner of more than five percent of Freight Technologies, Inc.'s Ordinary Shares, no par value, and, as such, the Amendment No. 1 to Schedule 13G constitutes an exit filing for the Reporting Person. Fetch Compute may be reached through: Jason Coleman, Chief Financial Officer and Finance Director Fetch Compute Inc. 251 Little Falls Drive Wilmington, DE 19808 Tel: 512-814-8813 A full-text copy of Fetch Compute Inc's SEC report is available at: https://tinyurl.com/5b4s7rv8 About Freight Technologies, Inc. Freight Technologies (Nasdaq: FRGT) -- http://fr8technologies.com/ -- is a technology company offering a diverse portfolio of proprietary platform solutions powered by AI and machine learning to optimize and automate the supply chain process. Focused on addressing the distinct challenges within the supply chain ecosystem, the Company's portfolio of solutions includes the Fr8App platform for seamless OTR B2B cross-border shipping across the USMCA region; Fr8Now, a specialized service for less-than-truckload (LTL) shipping; Fr8Fleet, a dedicated capacity service for enterprise clients in Mexico; Waavely, a digital platform for efficient ocean freight booking and management of container shipments between North America and ports worldwide; Fleet Rocket, a nimble, scalable and cost-effective Transportation Management System (TMS) for brokers, shippers, and other logistics operators; and Zayren, an AI-based, machine learning pricing-prediction tool and carrier-matching platform designed specifically for cross-border and domestic OTR freight shipments across Mexico and the United States. Together, each product is interconnected within a unified platform to network carriers and shippers and significantly improve matching and operation efficiency via innovative technologies such as live pricing and real-time tracking, digital freight marketplace, brokerage support, transportation management, fleet management, and committed capacity solutions. Diamond Bar, California-based TAAD, LLP, the Company's auditor since 2025, issued a "going concern" qualification in its report dated April 11, 2025, attached to the Company's Annual Report on Form 10-K for the year ended December 31, 2024, citing that the Company has suffered recurring losses from operations that raises substantial doubt about its ability to continue as a going concern. As of September 30, 2025, the Company had $12.20 million in total assets, $5.92 million in total liabilities, and $6.28 million in total stockholders' equity. FRESHREALM INC: Hires Cole Schotz P.C. as Bankruptcy Counsel ------------------------------------------------------------ Freshrealm Inc and its affiliates seek approval from the U.S. Bankruptcy Court for the District of New Jersey to employ Cole Schotz P.C. as bankruptcy counsel. The firm's services include: a. advising the Debtors with respect to their powers and duties as debtors in possession in the continued management and operation of their businesses and properties; b. advising and consulting on the conduct of these Chapter 11 Cases, including all of the legal and administrative requirements of operating in chapter 11; c. attending meetings and negotiating with representatives of creditors and other parties in interest; d. taking all necessary actions to protect and preserve the Debtors' estates, including prosecuting actions on the Debtors' behalf, defending any action commenced against the Debtors, and representing the Debtors in negotiations concerning litigation in which the Debtors are involved, including objections to claims filed against the Debtors' estates; e. preparing pleadings in connection with these Chapter 11 Cases, including motions, applications, answers, orders, reports, and papers necessary or otherwise beneficial to the administration of the Debtors' estates; f. representing the Debtors in connection with obtaining authority to continue using cash collateral and post petition financing; g. advising the Debtors in connection with any potential sale of assets; h. appearing before the Court and any appellate courts to represent the interests of the Debtors' estates; i. advising the Debtors regarding tax matters; j. taking any necessary action on behalf of the Debtors to negotiate, prepare, and obtain approval of a disclosure statement and confirmation of a chapter 11 plan and all documents related thereto; and k. performing all other necessary legal services for the Debtors in connection with the prosecution of these Chapter 11 Cases, including: (i) analyzing the Debtors' leases and contracts and the assumption and assignment or rejection thereof; (ii) analyzing the validity of liens against the Debtors' assets; and (iii) advising the Debtors on corporate and litigation matters. l. providing the Debtors with advice, based on its extensive experience practicing in the District of New Jersey, regarding the Debtors' rights, powers, and duties as debtors in possession in continuing to operate and manage their assets and business; m. providing legal advice and services regarding local rules, practices, and procedures including Third Circuit law; n. providing certain services in connection with the administration of the Chapter 11 Cases including, without limitation, preparing agendas, hearing notices, and hearing binders of documents and pleadings; o. advising the Debtors with respect to their reporting obligations and duties as debtors in possession, including reporting obligations to the Court and the United States Trustee (e.g., preparing monthly operating reports, schedules and statement of financial affairs, U.S. Trustee deliverables); p. appearing at any meeting with the United States Trustee and any meeting of creditors. The firm will be paid at these rates: Michael D. Sirota, Member $1,800 per hour Warren A. Usatine, Member $1,375 per hour Ryan T. Jareck, Member $1,050 per hour Daniel J. Harris, Member $950 per hour Matteo Percontino, Member $780 per hour Benjamin M. Fischer,Associate $430 per hour Timothy J. Dumbroff Associate $425 per hour Frances Pisano Paralegal $420 per hour Members $670 to $1,800 per hour Special Counsel $700 to $950 per hour Associates $400 to $765 per hour Paralegals $330 to $485 per hour The firm will be paid a retainer in the amount of $317,298.31 In addition, the firm will seek reimbursement for its out-of-pocket expenses. Michael D. Sirota, 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 at: Michael D. Sirota, Esq. Cole Schotz P.C. Court Plaza North, 25 Main Street Hackensack, NJ 07601 Telephone: (201) 489-3000 Email: msirota@coleschotz.com About FreshRealm Inc. FreshRealm, Inc operate a food development, manufacturing and fulfillment business founded in 2013 and spun off as independent companies in 2021. The company's principal assets and place of business are located in Linden, New Jersey, with additional operating facilities primarily in Lancaster, Texas, and Tracy, California. FreshRealm provides meal kit and prepared meal manufacturing, fulfillment, packing, and shipping services for direct-to-consumer, grocery, performance, lifestyle, and medically focused channels. Its customers include Blue Apron, LLC and MMM Consumer Brands, Inc., known as Marley Spoon. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.N.J. Lead Case No. 26-14656) on April 27, 2026. In the petition signed by Bryan Fleming, chief financial officer, the Debtor disclosed up to $500 million in both assets and liabilities. Judge Mark Edward Hall oversees the case. The Debtors tapped COLE SCHOTZ P.C. As restructuring and bankruptcy counsel, Alvarez and Marsal North America, LLC as financial restructuring adviser, Rothschild and Co., as investment banker, and Kroll Restructuring Administration LLC as notice, claims, solicitation, balloting and administrative agent. FRESHREALM INC: Hires Rothschild & Co as Investment Banker ---------------------------------------------------------- Freshrealm Inc and its affiliates seek approval from the U.S. Bankruptcy Court for the District of New Jersey to employ Rothschild & Co US Inc. as investment banker. The firm will provide these services: a. identify and/or initiate potential Transactions; b. review and analyze the Debtors' assets and the operating and financial strategies of the Debtors; c. review and analyze the business plans and financial projections prepared by the Debtors including, but not limited to, testing assumptions and comparing those assumptions to historical Debtors and industry trends; d. evaluate the Debtors' debt capacity in light of its projected cash flows and assist in the determination of an appropriate capital structure for the Debtors; e. assist the Debtors and its other professionals in reviewing the terms of any proposed Transaction, in responding thereto and, if directed, in evaluating alternative proposals for a Transaction; f. determine a range of values for the Debtors and any securities that the Debtors offers or proposes to offer in connection with a Transaction; g. advise the Debtors on the risks and benefits of considering a Transaction with respect to the Debtors' intermediate and long-term business prospects and strategic alternatives to maximize the business enterprise value of the Debtors; h. review and analyze any proposals the Debtors receives from third parties in connection with a Transaction, including, without limitation, any proposals for debtor-in-possession financing, as appropriate; i. assist or participate in negotiations with the parties in interest, including, without limitation, any current or prospective creditors of, holders of equity in, or claimants against the Debtors and/or their respective representatives in connection with a Transaction; j. advise the Debtors with respect to, and attend, meetings of the Debtors' Board of Directors, creditor groups, official constituencies and other interested parties, as necessary; k. participate in hearings before the Court and provide relevant testimony with respect to the matters described in the Engagement Letter and issues arising in connection with any proposed Plan; and l. render such other financial advisory and investment banking services as may be agreed upon by Rothschild & Co and the Debtors, subject to further court order. The firm will be paid at these rates: a. Monthly Fee. Commencing on April 1, 2026, whether or not a Transaction is proposed or consummated, an advisory fee (the "Monthly Fee") of $125,000 per month for the term of the Agreement shall be payable by the Debtors in advance on the first day of each month for which such Monthly Fee is payable; b. Completion Fee: The Debtors shall pay Rothschild & Co a fee of $3,750,000, payable upon the earlier of (i) the confirmation and effectiveness of a Plan and (ii) the closing of a Transaction (the "Completion Fee"). c. M&A Fee: If the Debtors sell or acquire, directly or indirectly, through a credit bid or otherwise, assets or equity interests or any securities convertible into, or options, warrants or other rights to acquire, such equity interests, or otherwise consummate any merger, consolidation or other business combination transaction (any such transaction, an "M&A Transaction"), the Debtors shall pay Rothschild & Co a fee (the "M&A (a) Monthly Fee. Commencing on April 1, 2026, whether or not a Transaction is proposed or consummated, an advisory fee (the "Monthly Fee") of $125,000 per month for the term of the Agreement shall be payable by the Debtors in advance on the first day of each month for which such Monthly Fee is payable; (b) Completion Fee: The Debtors shall pay Rothschild & Co a fee of $3,750,000, payable upon the earlier of (i) the confirmation and effectiveness of a Plan and (ii) the closing of a Transaction (the "Completion Fee"); M&A Fee: If the Debtors sell or acquire, directly or indirectly, through a credit bid or otherwise, assets or equity interests or any securities convertible into, or options, warrants or other rights to acquire, such equity interests, or otherwise consummate any merger, consolidation or other business combination transaction (any such transaction, an "M&A Transaction"), the Debtors shall pay Rothschild & Co a fee (the "M&A Fee"), which shall be payable at the closing of any M&A Transaction and which shall equal 1.50% of the Aggregate Consideration involved in the M&A Transaction; provided that in no event shall the M&A Fee payable upon the consummation of an M&A Transaction be less than $3,000,000. (d) New Capital Fee. The Debtors shall pay a new capital fee (the "New Capital Fee") equal to (i) 1.50% of the face amount of any senior secured debt raised including, without limitation, any debtor-in-possession financing raised; (ii) 2.50% of the face amount of any junior secured or senior or subordinated unsecured debt raised and (iii) 4.00% of any equity capital, capital convertible into equity or hybrid capital raised, including, without limitation, equity underlying any warrants, purchase rights or similar contingent equity securities. The New Capital Fee shall be payable upon the closing of the transaction by which the new capital is committed. (e) M&A Fee Credit. In the event the Debtors enter into a transaction that constitutes both a Transaction and an M&A Transaction, Rothschild & Co shall be entitled to the higher of the Completion Fee and the M&A Fee. If any M&A Transaction is consummated prior to a Transaction, Rothschild & Co shall credit 50% of any M&A Fee paid with respect to such M&A Transaction against the Completion Fee (the "M&A Fee Credit"); provided that the M&A Fee Credit shall not exceed the Completion Fee. (f) Expenses. The Debtors shall reimburse Rothschild & Co for its reasonable expenses incurred in connection with the performance of its engagement, including, without limitation, the reasonable fees, disbursements and other charges of Rothschild & Co's counsel (without the requirement that the retention of such counsel be approved by the Court). Reasonable expenses shall also include, but not be limited to, expenses incurred in connection with travel and lodging, data processing and communication charges, research and courier services. Consistent with and subject to any applicable order of the Court, the Debtors shall promptly reimburse Rothschild & Co for expenses under Section 5 of the Engagement Letter upon presentation of an invoice or other similar documentation with reasonable detail. It is understood that Rothschild & Co's reimbursable counsel fees may include, without limitation, fees incurred in representing Rothschild & Co's interests during the pendency and following the conclusion of the chapter 11 cases, including, without limitation, counsel fees incurred in connection with Rothschild & Co's retention and payment under the Engagement Letter. Brandon Aebersold, 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: Brandon Aebersold Rothschild & Co US Inc. 1251 Avenue of the Americas New York, NY 10020 Tel: (212) 403 3500 Email: brandon.aebersold@rothschildandco.com About FreshRealm Inc. FreshRealm, Inc operate a food development, manufacturing and fulfillment business founded in 2013 and spun off as independent companies in 2021. The company's principal assets and place of business are located in Linden, New Jersey, with additional operating facilities primarily in Lancaster, Texas, and Tracy, California. FreshRealm provides meal kit and prepared meal manufacturing, fulfillment, packing, and shipping services for direct-to-consumer, grocery, performance, lifestyle, and medically focused channels. Its customers include Blue Apron, LLC and MMM Consumer Brands, Inc., known as Marley Spoon. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.N.J. Lead Case No. 26-14656) on April 27, 2026. In the petition signed by Bryan Fleming, chief financial officer, the Debtor disclosed up to $500 million in both assets and liabilities. Judge Mark Edward Hall oversees the case. The Debtors tapped COLE SCHOTZ P.C. As restructuring and bankruptcy counsel, Alvarez and Marsal North America, LLC as financial restructuring adviser, Rothschild and Co., as investment banker, and Kroll Restructuring Administration LLC as notice, claims, solicitation, balloting and administrative agent. GATES ENTERPRISES: Has Deal on Cash Collateral Dispute ------------------------------------------------------ Gates Enterprises LLC and G&G Funding, LLC advise the U.S. Bankruptcy Court for the District of Colorado that they have reached a settlement that resolves a dispute over the use of cash collateral and fully settles G&G's claim in the Chapter 11 bankruptcy case. The Debtor filed for Chapter 11 protection on May 8, 2026, one day after G&G transferred $111,225 to the Debtor's Chase Bank account under a funding agreement executed on May 6, 2026. Following the bankruptcy filing, the Debtor sought authority to use cash collateral, but G&G objected, arguing that the funds it had advanced were not property of the bankruptcy estate and therefore could not be used by the Debtor in its reorganization efforts. After negotiations, the parties reached a comprehensive agreement to resolve the dispute. Under the proposed settlement, both parties agree that the $111,225 advanced by G&G is not property of the bankruptcy estate. As a result, Gates Enterprises must return the entire amount to G&G through a series of payments: $80,000 by May 27, 2026, $20,000 by June 3, 2026, and the remaining $11,225 by June 10, 2026. The payments are to be made to the trust account of the Debtor's counsel and then disbursed to G&G once court approval is obtained. Debtor is also required to provide proof that each payment has been transmitted on the scheduled due dates. The agreement further provides that once G&G receives and clears all payments, its claim against the debtor will be deemed fully satisfied. G&G will no longer have standing to participate in the bankruptcy case and will relinquish any further claims related to the funding transaction. The parties also agreed that the repayment of the funds cannot later be challenged or avoided as an unauthorized post-petition transfer under 11 U.S.C. Section 549 or under any other federal or state law, whether by the debtor-in-possession or a future trustee. Upon completion of the payments, both Gates Enterprises and G&G, along with their respective affiliates, successors, attorneys, agents, and representatives, will release one another from all known and unknown claims arising from the funding transaction or related matters in the bankruptcy case. The agreement is intended to bring a complete and final resolution to all disputes concerning the transferred funds. If Gates Enterprises fails to make any payment as required, it will automatically be in default. In that event, the Debtor's authority to use cash collateral will immediately terminate, and all obligations owed to G&G will become immediately due and payable, including attorney's fees and costs incurred by G&G in connection with the bankruptcy case. The Debtor may cure a default only by paying the accelerated balance in full, after which its authority to use cash collateral would be reinstated. A copy of the motion is available at https://urlcurt.com/u?l=pXTrfQ from PacerMonitor.com. About Gates Enterprises LLC Gates Enterprises LLC is a roofing company based in Lakewood, Colorado. Founded by Andrew Gates, the company provides exterior services including roof replacement, roof repair, storm and hail damage repair, siding, gutters, windows, paint, insurance restoration, and drone roof inspections. Gates Enterprises serves homeowners across Colorado's Front Range and created HailScore, a hail risk assessment tool. Gates Enterprises LLC filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. D. Col. Case No. 26-13280) on May 8, 2026, listing up to $50,000 in assets and $1 million to $10 million in liabilities. The petition was signed by Andrew Gates as president. Judge Joseph G Rosania Jr presides over the case. Jonathan M. Dickey, Esq. at Kutner Brinen Dickey Riley, P.C. serves as the Debtor's counsel. G&G Funding, as lender, is represented by: Btzalel Hirschhorn, Esq. ANDERSON BOWMAN, PLLC 8002 Kew Gardens Rd. Ste. 600 Kew Gardens, NY 11415 Tel: (718) 262-6800 Email: bhirschhorn@andersonbowman.com GENERIC MANUFACTURING: Gets Final OK to Use Cash Collateral ----------------------------------------------------------- Generic Manufacturing Corporation, Inc. received final approval from the U.S. Bankruptcy Court for the Central District of California, Riverside Division, to use cash collateral to pay its operating expenses. The final order authorized the Debtor to use cash collateral through July 1 to pay its expenses based on an approved budget. The Debtor is not allowed to use cash collateral to make payments to insiders unless all requirements of the Bankruptcy Code and Local Bankruptcy Rule 2014-1 are satisfied. If the Debtor seeks another extension, it must file a new cash collateral motion and obtain further court approval after a hearing. As adequate protection, the U.S. Small Business Administration and MyCone Dental Supply Company, Inc., doing business as Keystone Industries, were granted replacement liens on the Debtor's post-petition assets, with the same priority and extent as thire pre-petition liens. These replacement liens are limited to any reduction in the value of cash collateral resulting from the Debtor's post-petition use of that collateral. In addition, the SBA will receive a monthly payment of $731 from the Debtor. The order is available at http://bankrupt.com/misc/GenericManufacturing_FCCOrder.pdf About Generic Manufacturing Corporation Inc. Generic Manufacturing Corporation, Inc. manufactures packaging and bottling machinery serving multiple industries globally. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Cal. Case No. 26-12720) on April 8, 2026. In the petition signed by Lonnie Belts, president, the Debtor disclosed up to $500,000 in assets and up to $1 million in liabilities. Judge Scott H. Yun oversees the case. Michael Jay Berger, Esq., at Law Offices of Michael Jay Berger, represents the Debtor as bankruptcy counsel. GENESIS HEALTHCARE: Court Tosses Brown et al. Interlocutory Appeal ------------------------------------------------------------------ Judge Ada Brown of the U.S. District Court for the Northern District of Texas dismissed the appeal styled ESTATE OF ALMA BROWN, et al., Appellants, v. 1 GLEN HILL ROAD OPERATIONS, LLC, et al., Appellees, Case No. 3:25-cv-03225-E (N.D. Tex.) without prejudice for lack of jurisdiction. Having appealed an interlocutory order of the bankruptcy court, the Estate of Alma Brown, et al. -- purported holders of personal injury and wrongful death claims in the chapter 11 cases -- move this Court to certify the interlocutory order for direct appeal to the Fifth Circuit. In addition to opposing the motion, Genesis Healthcare, Inc. and certain of its affiliates and subsidiaries -- as debtors and debtors-in-possession in the chapter 11 cases -- have filed a separate motion to dismiss this appeal on the grounds that: (i) Appellants failed to move for leave to appeal an interlocutory order, thereby depriving this court of jurisdiction over the appeal; and (ii) even had they moved for leave to appeal, they cannot meet the requirements of 28 U.S.C. Sec. 1292(b). Appellants are requesting certification from this Court for direct appeal to the Fifth Circuit of the Claims Procedures Order. In response, Debtor-Appellees contend that the Claims Procedures Order, a procedural order by the Bankruptcy Court requiring holders of unliquidated claims to engage in settlement negotiations with the Debtors in good faith and participate in mediation prior to litigating their claims, does not meet any of the requirements for certifying a direct appeal to the Fifth Circuit under 28 U.S.C. Sec. 158(d)(2)(A). Because Appellants filed their request for direct certification in this Court on December 22, 2025, while questions regarding certification were still pending before the Bankruptcy Court, this Court lacks the authority at this time to resolve Appellants' request. Debtor-Appellees note that, in a recent decision, United States District Judge Karen Gren Scholer determined that the same Claims Procedures Order at issue in this case is interlocutory in nature. The District Court finds Debtor-Appellees' reasoning persuasive and agrees with Judge Scholer's decision. The Court rejects Appellants' contention that the Claims Procedures Order is a final order and finds that it is an interlocutory order. To determine whether an interlocutory appeal of the Bankruptcy Court's order is warranted, this Court must consider whether the order involves a controlling question of law as to which there is substantial ground for difference of opinion and whether an immediate appeal from the order would materially advance the ultimate termination of the bankruptcy proceeding. Judge Brown explains, "In her March 2nd Order, after Judge Scholer determined that the same Claims Procedures Order at issue here is interlocutory in nature, she denied the Motion for Leave to Appeal Claims Liquidation Procedures Order of claimants holding negligence claims against certain of the Debtors and non-Debtor co-defendants seeking review of the same Claims Procedures Order that Appellants challenge here. Hoffman, No. 3:25-cv-03224-S (N.D. Tex. Mar. 2, 2026), Docket No. 4 (the "March 2nd Order") Here, the Court is considering the same Claims Procedures Order as that considered by Judge Scholer in Hoffman. Like Judge Scholer, and for the reasons she sets forth in her March 2nd Order, the Court similarly determines that Appellants have not met the statutory criteria for an interlocutory appeal because they have not demonstrated that an appeal would materially advance the ultimate termination of the underlying bankruptcy proceeding. Further, it is not apparent how resolving the question of the validity of the Claims Procedures Order "'would eliminate the need for trial, simplify the issues for trial, or reduce the burden of discovery.'" Judge Brown holds, "Because Appellants have not demonstrated that an appeal of the Bankruptcy Court's Claims Procedures Order would materially advance the ultimate termination of the litigation, they have not met their burden of showing that the Court should grant leave to appeal." The District Court, therefore, finds that Appellants filed their certification request before the wrong court—an infirmity in Appellants' request that warrants, without more, the denial of the pending Motion for Order Certifying Direct Appeal. The District Court finds that leave to appeal the Bankruptcy Court's interlocutory order is not warranted. Having found that leave to appeal is not warranted, the Court further finds that it does not have jurisdiction to hear an appeal of the bankruptcy court's interlocutory order. The District Court denies Appellants' motion for order certifying direct appeal and grants Debtor-Appellees' motion to dismiss appeal. A copy of the Court's Amended Memorandum Opinion and Order dated May 28, 2026, is available at http://urlcurt.com/u?l=47cb9Tfrom PacerMonitor.com. About Genesis Healthcare Inc. Based in Culver City, Calif., Genesis Healthcare Inc. is a medical group that provides physician services in Southern California. Genesis Healthcare has operated under the names Daehan Prospect Medical Group and Prospect Genesis Healthcare. Genesis Healthcare Inc. and several affiliated debtors sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Texas Lead Case 25-80185) on July 9, 2025. In its petition, Genesis Healthcare Inc. listed between $1 billion and $10 billion in estimated assets and liabilities. The Hon. Bankruptcy Judge Stacey G. Jernigan handles the jointly administered cases. The Debtors employed McDermott Will & Schulte LLP as counsel; Jefferies LLC as investment banker; and Ankura Consulting Group, LLC, as restructuring advisors, and designated Louis E. Robichaux IV and Russell A. Perry as co-chief restructuring officers. Katten Muchin Rosenman LLP serves as special counsel at the sole direction of Jonathan Foster and Elizabeth LaPuma in their capacity as independent directors and members of the special investigation committee. The U.S. Trustee appointed an official committee of unsecured creditors in the Chapter 11 cases of Genesis Healthcare Inc. and affiliates. The committee retained Proskauer Rose LLP and Stinson LLP as its co-counsel; FTI Consulting, Inc., as its financial advisors; and Houlihan Lokey Capital, Inc. as its investment banker. GLACIER CAR: Seeks to Hire Harbor LLC as Accountant --------------------------------------------------- Glacier Car and Dog Wash, LLC seeks approval from the U.S. Bankruptcy Court for the District of Colorado to employ Harbor LLC as accountants. The firm will assist the Debtor in preparing tax related documents and schedules. The firm will be paid at a weekly rate of $238. In addition, the firm will seek reimbursement for its out-of-pocket expenses. Morgan Siegal, 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: Morgan Siegal, CPA 501 South Cherry St, 11th Floor, Denver, CO 80246 Tel: (303) 803-1901 Fax: (888) 719-5997 About Glacier Car and Dog Wash Glacier Car and Dog Wash, LLC operates a combined dog wash and car wash facility in Thornton, Colorado. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Colo. Case No. 26-13121-KHT) on May 4, 2026. In the petition signed by Seana Cabral, vice president, the Debtor disclosed up to $10 million in both assets and liabilities. Judge Kimberley H. Tyson oversees the case. Aaron A. Garber, Esq., at Wadsworth Garber Warner Conrardy, P.C., represents the Debtor as legal counsel. GLENS FALLS: Hires Realize Broker LLC as Real Estate Broker ----------------------------------------------------------- Glens Falls Re Holdings, Inc. seeks approval from the U.S. Bankruptcy Court for the Northern District of New York to employ Realize Broker, LLC as real estate broker. The firm will market and sell Debtor's Real Property located at: a. 8 Lawton Ave, Glen Falls, NY 12801 b. 190 Ridge St, Glen Falls, NY 12801 c. 190 Ridge St, Glen Falls, NY 12801 d. 195 Ridge St, Glen Falls, NY 12801 e. 45 William St, Glen Falls, NY 12801 The firm will be paid at an agreed 5% broker commission, which is one percentage point lower than the standard 6% commission on real estate Contracts. Mr. Ketter, 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: Nicholas Ketter Realize Broker, LLC 274 Glen St. Glen Falls, NY 12804 Tel: (518) 678-4444 About Glens Falls Re Holdings, Inc. Glens Falls RE Holdings, Inc., a company that is primarily engaged in renting and leasing real estate properties, sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D.N.Y. Case No. 24-10274) on Mar. 11, 2024. In the petition signed by Stephen Frank, president, the Debtor disclosed $1,734,366 in assets and $2,672,951 in liabilities. Michael Boyle, Esq., at Boyle Legal, LLC serves as the Debtor's legal counsel. GLOBAL PARTNERS: S&P Upgrades ICR to 'BB-' on Strong EBITDA ----------------------------------------------------------- S&P Global Ratings raised its issuer credit rating to 'BB-' from 'B+' to Global Partners L.P. S&P also raised the issue-level rating on its senior notes to 'BB-' from 'B+'. S&P's '4' recovery rating on the notes is unchanged, indicating its expectation for average (30%-50%; rounded estimate: 30%) recovery. The stable outlook reflects S&P's expectation that Global Partners will maintain its S&P Global Ratings-adjusted leverage at 4x or marginally above in 2026 and 2027. S&P said, "The upgrade reflects our view that Global Partners will maintain leverage at 4x, consistent with the higher rating, even after excluding the temporary benefits from the elevated commodity market volatility associated with the Middle East war. Recent operating performance in the first quarter of 2026 benefited from favorable market conditions, and we believe the company's underlying earnings capacity, business profile, and financial metrics support leverage commensurate with the higher rating." Global Partners reported S&P Global Ratings- adjusted EBITDA of $142 million in the first quarter of 2026, compared with $92 million in the prior-year period, primarily due to stronger product margins in its wholesale segment. The company benefited from favorable market conditions, including heightened price volatility and wider product spreads, which supported margins across gasoline, gasoline blendstocks, distillate, and residual fuel oil. S&P said, "However, we believe the first-quarter outperformance was opportunistic and market-driven rather than structural because profitability in the wholesale segment remains sensitive to changes in commodity prices and market conditions. As a result, we do not assume Global Partners will sustain first-quarter margin levels over the longer term. Our base-case credit metrics are similar to our expectations published in our most recent research update, published March 30, 2026, adjusted for the actual results in the first quarter. "We believe even under less volatility and more normalized market conditions, the company can maintain leverage at 4x or marginally above that level, which is consistent with our 'BB-' rating. In our view, its larger operating scale, broader asset base, and increased diversification into midstream operations over the past several years have strengthened its credit profile." Global Partners' working capital requirements remain significant. It primarily funds these through its inventory-backed borrowing base revolver. As of March 31, 2026, the company had $408 million outstanding on its $1.3 billion revolving credit facility (RCF). In addition, its RCF used for general corporate purposes had an outstanding balance of $103.5 million. Although fluctuations in working capital usage can result in variability in reported leverage metrics from quarter to quarter, we believe the highly liquid nature of the underlying inventory supports temporary increases in debt without materially weakening the company's credit profile. The stable outlook reflects S&P's expectation that Global Partners will maintain its S&P Global Ratings-adjusted leverage at 4x or marginally above in 2026 and 2027. Credit metrics in 2026 are supported by favorable commodity price environment. S&P could take a negative rating action on Global Partners if its debt to EBITDA remains above 4.5x on a sustained basis. This could occur if its product margins decline, fuel volumes decrease, or it undertakes material debt-financed acquisitions. While unlikely in the near term, S&P could take a positive rating action on Global Partners if it achieves and sustains S&P Global Ratings-adjusted leverage of below 3.5x, including its working capital borrowings. A positive rating action would also require the scale of operations to be commensurate with that of other midstream companies. GOLDENPEAKS POLAND: Seeks to Tap Kroll as Claims and Noticing Agent ------------------------------------------------------------------- Goldenpeaks Poland Holding Limited and its affiliates seek approval from the U.S. Bankruptcy Court for the Southern District of Texas to employ 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. Prior to the Petition Date, the Debtors provided Kroll a retainer in the amount of $25,000. 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 J. Steele Kroll Restructuring Administration LLC 1 World Trade Center, 31st Floor New York, NY 10007 Telephone: (212) 257—5490 Email: Benjamin.steele@kroll.com About Goldenpeaks Poland Holding Limited GoldenPeaks Capital is a renewable energy group headquartered in Pieta, Malta. The company owns, builds, and optimizes renewable energy projects, producing power through arrangements including government and corporate power purchase agreements. Its activities include project development, engineering, construction, operations and maintenance, Green Credit trading, and support services for renewable energy operations. The group operates a renewable energy platform in Eastern Europe, including utility-scale solar photovoltaic assets in Poland, and is developing energy storage systems to supplement its existing assets. Goldenpeaks Poland Holding Limited and its affiliates sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Lead Case No. 26-90564) on May 29, 2026. In the petitions signed by Jame Donath, non-executive director, Goldenpeaks disclosed up to $10 billion in assets and up to $1 billion in liabilities. Judge Alfredo R. Perez oversees the case. The Debtors tapped Pachulski Stang Ziehl & Jones LLP as counsel and Kroll Restructuring Administration LLC as claims, noticing, and solicitation agent. GRACE LIMOUSINE: Reaches Settlement with BankProv; Amends Plan -------------------------------------------------------------- Grace Limousine, LLC submitted a Second Amended Disclosure Statement with respect to Second Plan of Reorganization dated May 28, 2026. Pursuant to the Plan, the Debtor proposes to effectuate a reorganization and to complete a balance sheet restructuring that will aid in the Debtor's viability. On the Effective Date, except as otherwise set forth in the Plan, the Estate's interest in all Assets shall vest in the Debtor free and clear of any and all Claims, Interests, or defenses with respect to any Claims, whether known or unknown, asserted or unasserted, or contingent or fixed. BankProv Settlement To facilitate the reorganization of the Debtor and to resolve disputes related to the Plan and other matters, the Debtor and BankProv have agreed to the following terms and conditions, which are incorporated into, and are an integral part of, the Plan (collectively, the "BankProv Settlement"): * The Plan shall grant BankProv an Allowed Secured Claim upon the terms set forth in Section 3.2.A. (Class 2) of the Plan. * The Plan shall grant BankProv the Allowed BankProv Vehicle Loan Claim in the amount set forth in Exhibit 2, which Allowed Claim shall be treated in accordance with Section 3.2.A. (Class 3) of the Plan. * The remaining Allowed Claim of BankProv under this Plan shall be Classified as an Allowed Unsecured Claim and treated in accordance with Class 6 of this Plan, and BankProv shall be entitled to its Pro Rata distribution from the Campbell New Value Payment based on its Allowed Unsecured Claim and in accordance with the Subordination Agreement. * To facilitate payment of the Campbell New Value Payment and the BankProv Settlement more generally, Leopard shall cause to be refinanced and paid in full the approximately $300,000 BankProv Claim that is secured by a first priority mortgage on Leopard's real property (the "Senior BankProv Real Property Loan"), which refinancing shall occur at an estimated 80% loan-to-value ratio and is anticipated to secure up to $750,000-$800,000 in new loan proceeds based on the most recent appraisal of the Leopard real property (the "Leopard Refinancing"). In addition: -- Upon closing of the Leopard Refinancing, in addition to payment of the Senior BankProv Real Property Loan, (x) the next $325,000 borrowed under the Leopard Refinancing shall be paid by Leopard toward BankProv's Allowed Unsecured Claim against the Debtor (which Claim is cross-collateralized through BankProv's mortgage on the Leopard real property); and (y) the remaining net proceeds from the Leopard Refinancing shall be used to fund the Campbell New Value Payment (which shall be, in aggregate, $75,000). -- Following the closing of the Leopard Refinancing, BankProv shall be granted a junior mortgage on the Leopard real property to secure BankProv's remaining Allowed Claims against the Debtor under the Plan, provided that BankProv shall, upon request, execute a commercially standard subordination agreement and other standard agreements with any new lender as necessary to facilitate the Leopard Refinancing. -- The Leopard Refinancing shall occur not more than 120 days after the Effective Date of the Plan, provided that such deadline may be extended with the written consent of BankProv in BankProv's sole discretion. * Upon Substantial Consummation of the Plan, Michael Campbell, as guarantor, shall enter into a consent judgement in favor of BankProv in the remaining amount of the Debtor's obligations to BankProv (the "Consent Judgment"), provided that with the consent of BankProv, (i) Michael Campbell shall pay to BankProv the sum of $500/month during the term of the Plan toward such Consent Judgment, and (ii) BankProv shall forbear from executing and collecting on the Consent Judgment or taking any other action to collect against Michael Campbell so long as the Debtor and Michael Campbell are not in default of their respective payment obligations to BankProv under the Plan. BankProv and Michael Campbell shall coordinate in good faith to stay all deadlines in any litigation by BankProv against Michael Campbell that may exist prior to Substantial Consummation. * BankProv shall support and vote in favor of the Plan on account of all of its Allowed Claims under the Plan (which shall include the Allowed Class 2 Claim, the Allowed Class 3 Claim, and the Allowed Class 6 Claim). * BankProv shall use its best, commercially reasonable efforts to enforce all of its rights and interests pursuant to that certain Subordination Agreement dated June 3, 2019 between BankProv and Mollica (the "Subordination Agreement"), which actions shall include, without limitation, that BankProv shall exercise its assigned voting rights on behalf of Mollica to vote in favor of the Plan on account of all of Mollica's Allowed Claims. In addition, as set forth in the Subordination Agreement, BankProv shall be entitled to receive all distributions under this Plan to which Mollica may be entitled (including Pro Rata distributions from the Campbell New Value Payment). * In the event that the Debtor determines to sell a vehicle securing BankProv's Class 2 Claim after the Confirmation Date, BankProv shall promptly confirm that the sale price is reasonably acceptable based on the fair market value of the vehicle and, if so, shall provide the original title for such vehicle to the Debtor for purposes of completing the sale and releasing BankProv's Lien, and the net proceeds of such sale shall be applied to the Class 2 Claim. * The Debtor, Leopard, and Michael Campbell shall cooperate in the execution of any documents reasonably requested by BankProv to effectuate the terms of these provisions including but not limited to amended and/or modified loan documents in a form and manner reasonably acceptable to BankProv. The treatment of Class 6 contemplates the introduction of new value by Michael Campbell, the current owner of existing equity Interests in the Debtor. It is the opinion of the Debtor that in the event Class Six votes to reject the Plan and the absolute priority rule applies, Mr. Campbell's contribution of the $75,000 Campbell New Value Payment, plus the $325,000 paid to BankProv through the Leopard Refinancing, plus the Campbell New Value Gift, totals an aggregate contribution by Mr. Campbell of $939,950.06, and, therefore, the "new value exception" to the absolute priority rule is satisfied and Mr. Campbell is entitled to retain his equity Interests in the reorganized Debtor. Finally, looking at the cash component of the new value, the $400,000 payment is approximately 13.4% of Allowed General Unsecured Claims after accounting for the Campbell New Value Gift. Class 2 consists of the BankProv Secured Claim. In full and final satisfaction of the Claims in Class 2, BankProv shall comply with, and be bound by, the BankProv Settlement and shall be granted an Allowed Secured Claim in the principal amount equal to $434,792.91 less the net sale proceeds received by BankProv from the sale of any vehicles by the Debtor securing the Class 2 Claim prior to the Confirmation Date. BankProv's Allowed Secured Claim in Class 2 shall be amortized over ten years from the Effective Date at 7.00% interest per annum. The Debtor shall make even monthly payments of principal and interest to BankProv until the Allowed Class 2 Claim is paid in full upon the 120th payment. After the Effective Date, BankProv's Allowed Class 2 Claim shall be secured only by first priority Liens on the Debtor's (i) cash held in a BankProv bank account on the Petition Date (valued at $32,123.01), and (ii) the vehicles for which BankProv held original titles on the Petition Date other than BankProv's Vehicle Loan Claim, which vehicles are set forth on the schedule attached (valued at $402,669.90 as of the Petition Date) (collectively, (i) and (ii), the "BankProv Class 2 Collateral"). The Class 2 Claim shall not include the Vehicle Loan Claim held by BankProv, which is separately Classified in Class 3. Class 6 consists of All General Unsecured Claims. In full and final satisfaction of the Claims in Class 6, Michael Campbell, in his capacity as the sole Holder of an Interest in the Debtor, shall make a substantial contribution of new value in the form of a one-time cash payment to the Debtor in the sum of $75,000 (the "Campbell New Value Payment") which shall be funded primarily from the Leopard Refinancing in accordance with the BankProv Settlement and payable to the Debtor within seven days of the closing of the Leopard Refinancing. Within seven days after being funded to the Debtor in accordance with the prior sentence, the Campbell New Value Payment shall be distributed by the Debtor, Pro Rata, to Holders of Allowed General Unsecured Claims, and such Pro Rata payment shall be the only distribution on account of such Allowed General Unsecured Claims under this Plan. In addition, for purposes of Class Six, and as further value to the Holders of Allowed General Unsecured Claims, Michael Campbell and his non-debtor Affiliates shall gift to the other Holders of Allowed General Unsecured Claims their Pro Rata distribution from the Campbell New Value Payment on account of the following Claims against the Debtor: (i) $208,344.28 Claim held by Michael Campbell; (ii) $172,676 Claim held by JEI Logistics; and (iii) $158,929.78 Claim held by Leopard (collectively, the "Campbell New Value Gift"). As partial consideration for the Campbell New Value Payment and the Campbell New Value Gift, no Holder of a Claim administered under this Plan may commence or pursue a cause of action against any of the Campbell Parties on account of or related to such administered Claim or any other causes of action that arises from or is related to the Chapter 11 Case, the negotiation of the Plan, the administration of the Plan or property to be distributed under the Plan, or the transactions in furtherance of the foregoing, without first obtaining authorization from the Bankruptcy Court after notice and a hearing, provided that BankProv shall not be subject to this provision but rather, by consent, shall be governed by the provisions of the BankProv Settlement. A full-text copy of the Second Amended Disclosure Statement dated May 28, 2026 is available at https://urlcurt.com/u?l=J85UyJ from PacerMonitor.com at no charge. Counsel to the Debtor: Matthew J. Delude, Esq. Adam R. Prescott, Esq. Bernstein, Shur, Sawyer & Nelson, PA 670 N. Commercial Street, Suite 108 P.O. Box 1120 Manchester, NH 03105 Telephone: (603) 623-8700 Email: mdelude@bernsteinshur.com About Grace Limousine LLC Grace Limousine LLC is a Manchester, New Hampshire-based limited liability company founded in 1990 by Ian Campbell, a disabled American veteran. The Debtor sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.N.H. Case No. 25-10775) on November 3, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million. Honorable Bankruptcy Judge Kimberly Bacher handles the case. The Debtor is represented by Matthew J. Delude, Esq. of Bernstein, Shur, Sawyer & Nelson, PA. GREAT CIRCLE: Claims Will be Paid from Property Sale/Refinance -------------------------------------------------------------- Great Circle Park, LLC filed with the U.S. Bankruptcy Court for the Southern District of New York a Second Amended Combined Disclosure Statement and Plan of Reorganization dated May 28, 2026. The Debtor is engaged in the business of owning a piece of property located at 70 Little West Street, New York, NY 10004 (the "Property"). The Property has a parking garage located on it and has been in operation since 2017 (the "Parking Garage"). The Parking Garage is currently operated pursuant to a lease agreement dated April 17, 2019 with MP Battery 70 LLC. The Debtor's financial problems arose principally when the floating interest rate on its Mortgage with Flagstar Bank, N.A., as successor by merger to New York Community Ban, increased significantly due to the recent rate increases implemented by the U.S. Federal Reserve. This is an issue that has plagued many borrowers in recent years and the Debtor has struggled to continue making payments under its Mortgage. Prior to filing this Chapter 11 Case, the Debtor sought to enter into a mutual agreement with Flagstar that would authorize the Debtor to implement a licensing sale for the various parking spots in the Parking Garage. Flagstar, however, was unwilling to release its collateral under the terms proposed by the Debtor. The Plan proposes to pay creditors of the Debtor from the proceeds generated via the Property Sale or Refinancing. The Debtor intends to use the proceeds from the Property Sale or Refinancing to satisfy all remaining Allowed Claims. Non-priority unsecured creditors holding Allowed General Unsecured Claims will receive distributions, which the Debtor projects will be paid in full. The Plan provides that the Debtor will make distributions for the payment in full of Administrative and Priority Tax claims before making any distributions to the Allowed Class 2 Claims. Class 1 consists of Flagstar Secured Claim. In accordance with and subject to the provisions of Section 10.2, the Flagstar Secured Claim shall be allowed in the amount of the outstanding principal balance of the Mortgage loan, together with all accrued and unpaid non-default interest, including accrued prepetition non-default interest, determined as of the date of payment in full. Class 1 is Impaired under the Plan. Class 2 consists of General Unsecured Claims. On or after the Effective Date, each Holder of an Allowed General Unsecured Claim shall receive, one or more distributions on a pro rata basis, one hundred percent of such Allowed General Unsecured Claim, in full and final satisfaction of such Allowed General Unsecured Claim from the proceeds of the Property Sale, or such lesser treatment as to which the Debtor and the Holder of any such Allowed General Unsecured Claim shall have agreed upon in writing. The estimated amount of Allowed General Unsecured Claims is $0.00. Class 2 is Unimpaired under the Plan. The Holder of Interests shall retain one hundred percent of such Interests on or after the Effective Date in full and final satisfaction of such Interests from the proceeds of the Property Sale after satisfaction in full of all Allowed Claims, or such lesser treatment as to which the Debtor and the Holder of such Interests shall have agreed upon in writing. As a condition to effectiveness of this Plan, the Debtor must close the Property Sale or Refinancing on or before November 30, 2026. The Debtor is authorized to structure any Property Sale pursuant to the terms of a sale and purchase agreement. Such sale and purchase agreement may be structured so that it qualifies as a Like-Kind Exchange. Purchaser agrees to cooperate with Debtor by taking such actions as are reasonably required to effectuate such a LikeKind Exchange, including but not limited to (i) the execution of any and all documents, either in customary form used by a qualified intermediary, or, subject to the reasonable approval of purchaser's counsel, as are requested in connection therewith; and (ii) the use of a qualified intermediary. The Plan and the Distributions hereunder shall be funded by the net proceeds of the Property Sale or Refinancing. A full-text copy of the Second Amended Combined Disclosure Statement and Plan dated May 28, 2026 is available at https://urlcurt.com/u?l=ggbAa2 from PacerMonitor.com at no charge. Great Circle Park, LLC is represented by: Tracy L. Klestadt, Esq. Christopher Reilly, Esq. KLESTADT WINTERS JURELLER SOUTHARD & STEVENS LLP 200 West 41st Street, 17th Floor New York, NY 10036 Telephone: (212) 972-3000 Facsimile: (212) 972-2245 About Great Circle Park LLC Great Circle Park, LLC, is engaged in the business of owning a piece of property located at 70 Little West Street, New York, NY 10004 (the "Property"). The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Case No. 25-11767) on August 12, 2025, listing up to $10 million in both assets and liabilities. Pamela Frost, managing member, signed the petition. Judge Martin Glenn oversees the case. Tracy L. Klestadt, Esq., at Klestadt Winters Jureller Southard & Stevens, LLP, represents the Debtor as legal counsel. Flagstar Bank, N.A., as lender, is represented by: Phillip S. Pavlick, Esq. McCarter & English, LLP Four Gateway Center, 100 Mulberry Street Newark, NJ 07102 Tel: (973) 849-4181 E-mail: ppavlick@mccarter.com HARLING INC: Court Extends Cash Collateral Access to June 18 ------------------------------------------------------------ Harling, Inc. received another extension from the U.S. Bankruptcy Court for the Northern District of Illinois, Eastern Division, to use cash collateral. The interim order penned by Judge Jacqueline Cox authorized the Debtor to use cash collateral retroactive to the date of filing the Debtor's Chapter 11 case through June 18. As protection from any diminution in the value of its collateral, Byline Bank will be granted a first-priority lien on property acquired by the Debtor after the petition date, including all proceeds and products thereof. This lien will have the same priority and extent as the bank's pre-bankruptcy lien. A further hearing is scheduled for June 16. The interim order is available at https://shorturl.at/srsEc from PacerMonitor.com. The Debtor previously entered into two loan agreements with Byline Bank: one for $250,000 and another for $1.05 million, both secured by the Debtor's assets, including equipment, inventory, accounts receivable, and general intangibles. Byline Bank has filed proofs of claim for $218,647 and $741,213 on those respective loans. The Debtor's schedules list total assets of $29,137, primarily composed of $21,447 in accounts receivable and $3,500 in office furniture and equipment. About Harling Inc. Harling Inc. specializes in masonry facade repair, restoration, and building waterproofing services for commercial, industrial, and institutional buildings. It is based in Broadview, Ill. Harling sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 25-04324) on March 1, 2025. In its petition, the Debtor reported between $100,000 and $500,000 in assets and between $1 million and $10 million in liabilities. Judge Jacqueline P. Cox handles the case. Joel Schechter, Esq., at the Law Offices of Joel A. Schechter is the Debtor's legal counsel. Byline Bank, as secured creditor, is represented by: Martin J. Wasserman, Esq. Carlson Dash, LLC 216 S. Jefferson St., Suite 303 Chicago, IL 60661 Phone: 312-382-1600 mwasserman@carlsondash.com HAWAII BREWERY: Hires Bosko Petricevic AAL as Litigation Counsel ---------------------------------------------------------------- Hawaii Brewery Development Co., Inc. seeks approval from the U.S. Bankruptcy Court for the District of Hawaii to hire Bosko Petricevic AAL, LLLC as special litigation counsel. The Debtor requires experienced litigation counsel to litigate an adversary proceeding seeking a determination, among other things, that a lease has been breached and that the tenant under that lease has no rights to occupy or use Debtor's property; and an objection to claim involving the malpractice of a former attorney for Debtor. BP Law charges $400/hour for its services. As disclosed in the court filings, Bosko Petricevic AAL, LLLC does not represent or hold any interest adverse to the debtor(s) or to the estate with respect to this employment. The firm can be reached through: Bosko Petricevic, Esq. Bosko Petricevic AAL, LLLC Po Box 38 Honolulu, HI 96810-0038 Tel: (402) 301-3716 Email: boskolaw@gmail.com About Hawaii Brewery Development Co. Inc. Hawaii Brewery Development Co., Inc. is a beverage industry development company engaged in brewery-related real estate, infrastructure, and commercial operations. Hawaii Brewery Development Co., Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Haw. Case No. 26-00311) on April 16, 2026. In its petition, the Debtor reports estimated assets in the range of $10 million to $50 million and estimated liabilities in the range of $1 million to $10 million. Honorable Bankruptcy Judge Robert J. Faris handles the case. The Debtor is represented by Lars Peterson, Esq. HAWAII BREWERY: Taps Klein Law Group as Special Litigation Counsel ------------------------------------------------------------------ Hawaii Brewery Development Co., Inc. seeks approval from the U.S. Bankruptcy Court for the District of Hawaii to hire Klein Law Group LLLC as special litigation counsel. The Debtor requires experienced litigation counsel to litigate an adversary proceeding seeking a determination, among other things, that a lease has been breached and that the tenant under that lease has no rights to occupy or use Debtor's property; and an objection to claim involving the malpractice of a former attorney for Debtor. The billing rates of the professionals of Klein Law are: Robert Klein $500/hr Kurt Klein $400/hr David Robyak $400/hr Jiro Yuda $400/hr Jason Jutz $400/hr David Sherman $390/hr Noah Wilson $250/hr Jeremy Terrazas, Paralegal $180/hr As disclosed in the court filings, Klein Law Group LLLC is a "disinterested person" within the meaning of 11 U.S.C. Sec. 101(14). The firm can be reached through: Kurt Klein, Esq. Klein Law Group LLLC 1001 Bishop St. Suite 2788 Honolulu, HI 96813 Phone: (808) 591-8822 Email: KLG@KLEINLG.COM About Hawaii Brewery Development Co. Inc. Hawaii Brewery Development Co., Inc. is a beverage industry development company engaged in brewery-related real estate, infrastructure, and commercial operations. Hawaii Brewery Development Co., Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code Bankr. D. Haw. Case No. 26-00311 on April 16, 2026. In its petition, the Debtor reports estimated assets in the range of $10 million to $50 million and estimated liabilities in the range of $1 million to $10 million. Honorable Bankruptcy Judge Robert J. Faris handles the case. The Debtor is represented by Lars Peterson, Esq. HAYWARD INDUSTRIES: S&P Assigns 'BB' Rating on 1st-Lien Term Loan ----------------------------------------------------------------- S&P Global Ratings assigned its 'BB' issue-level rating and '3' recovery rating to Hayward Industries Inc.'s amended $960 million first-lien term loan maturing 2033. The '3' recovery rating indicates its expectation for meaningful (50%-70%; rounded estimate: 65%) recovery in the event of a payment default. At the same time, the company launched a $425 million revolving credit facility maturing 2031 to refinance its existing $425 million asset-based lending facility maturing 2028. This transaction is leverage neutral because Hayward is not adding any incremental term debt. S&P said, "Our 'BB' issuer credit rating and positive outlook on Hayward are unchanged and continue to reflect our expectation it will increase its revenue by about 3.5% annually, further expand its S&P Global Ratings-adjusted EBITDA margins by 4%, and sustain leverage of below 3x. While the company's adjusted leverage could fall below 2x, we view this as unlikely given its ongoing appetite for bolt-on acquisitions and share repurchases. Our base-case forecast assumes roughly $50 million of acquisitions and $200 million of buybacks annually, which we believe Hayward can execute while maintaining leverage within its 2x–3x target range." Issue Ratings--Recovery Analysis Key analytical factors -- Hayward Industries Inc.'s proposed capital structure comprises a $425 million revolving credit facility due 2031 (assumed 85% drawn in S&P's simulated default scenario) and a $960 million senior secured term loan due 2033. -- S&P's simulated default scenario assumes a payment default occurring in the first half of 2031 because of a steep decline in the company's revenue and income due to a slowdown in consumer spending on pool equipment and, consequently, lower sales and operating margins. Hayward may have to fund its cash flow shortfalls with available cash and revolver borrowings. Eventually, the company's liquidity and capital resources become strained to the point that it cannot continue to operate without an equity infusion or bankruptcy filing. -- S&P said, "In the event of insolvency proceedings, we anticipate Hayward would file for bankruptcy protection under the auspices of the U.S. federal bankruptcy court system and would not involve other foreign jurisdictions. We believe its creditors would receive the maximum recovery in a payment default scenario if the company reorganized rather than liquidated. This is due to its position as one of three major suppliers of pool cleaning and maintenance equipment globally, as well as its entrenched relationships with large pool equipment distributors and retailers." -- As such, S&P valued Hayward using an enterprise valuation approach to derive its expected recovery and applied a 6x multiple to our assumed distressed emergence EBITDA of $160 million to estimate a gross recovery value of $958 million. Simulated default assumptions -- Debt service: $80 million (default year interest plus amortization) -- Minimum capital expenditure: $21 million -- Default EBITDA proxy: $101 million -- Cyclicality adjustment: 5% -- Operational adjustment: 50% -- Emergence EBITDA: $160 million Simplified waterfall -- Gross recovery value: $958 million -- Net recovery value (after 5% administrative expenses): $910 million -- Obligor/nonobligor valuation split: 87%/13% -- Net recovery value available for first-lien debt (prior to $41 million of unpledged value available for first-lien deficiency claims): $863 million -- First-lien debt claims: $1,313 million --Recovery expectations: 50%-70% (rounded estimate: 65%) HEALTHCARE FOR ALL: Seeks to Hire Spence Law Office as Counsel -------------------------------------------------------------- Healthcare for All Women OB/GYN, PLLC and affiliates seeks approval from the U.S. Bankruptcy Court for the Eastern District of New York to hire Spence Law Office, P.C. as counsel. The firm's services include: (a) advise the Debtor with respect to its powers and responsibility in the continued management of its property; (b) attend creditors' meetings and Section 341 hearings; (c) negotiate with creditors of the Debtor in formulating a Chapter 11 plan of reorganization and take the necessary legal steps in order to institute a plan of reorganization; (d) prepare legal papers; (e) appear before the U.S. Bankruptcy Court and represent the Debtor in all matters pending before the said court; and (f) perform all legal services that may be necessary and appropriate. The firm will be paid at these hourly rates: Partners/Principals $575 Associates/Of Counsel $325 - $575 Paralegals $150 Prior to the filing date, the firm received a retainer in the amount of $35,000. Robert Spence, Esq., principal at Spence Law Office, disclosed in a court filing that the firm is a "disinterested person" pursuant to Section 101(14) of the Bankruptcy Code. The firm can be reached through: Robert J. Spence, Esq. Spence Law Office, P.C. 55 Lumber Road, Suite 5 Roslyn, NY 11576 Tel: (516) 336-2060 Fax: (516) 605-2084 Email: rspence@spencelawpc.com About Healthcare for All Women OB/GYN Healthcare for All Women OB/GYN PLLC, which operates a women's health clinic in Great Neck, New York, provides obstetric and gynecological services including preventive care, reproductive health management, and routine screenings. The practice delivers patient-centered care through services such as prenatal management, gynecologic examinations, and diagnostic evaluations, supporting patients across different stages of care within a single clinical setting. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. N.Y. Case No. 26-71056) on March 17, 2026. In the petition signed by Sarita Khatri, MD, managing member, the Debtor disclosed $7,306,957 in total liabilities. Robert J. Spence, Esq., at Spence Law Office, P.C., represents the Debtor as bankruptcy counsel. HPC MOTORSPORTS: Hires Lane Law Firm PLLC as Bankruptcy Counsel --------------------------------------------------------------- HPC Motorsports, LLC seeks approval from the U.S. Bankruptcy Court for the Southern District of Texas to hire The Lane Law Firm, PLLC, as counsel. The firm will render these services: a. assist, advise and represent the Debtor relative to the administration of the chapter 11 case; b. assist, advise and represent the Debtor in analyzing the Debtor's assets and liabilities, investigating the extent and validity of lien and claims, and participating in and reviewing any proposed asset sales or dispositions; c. attend meetings and negotiate with the representatives of the secured creditors; d. assist the Debtor in the preparation, analysis, and negotiation of any plan of reorganization and disclosure statement accompanying any plan of reorganization; e. take all necessary action to protect and preserve the interests of the Debtor; f. appear, as appropriate, before this Court, the Appellate Courts, and other Courts in which matters may be heard and to protect the interests of the Debtor before said Courts and the United States Trustee; and g. perform all other necessary legal services in these cases. The firm will be paid at these hourly rates: Robert C. Lane, (lead) Partner $725 Joshua D. Gordon, Partner $700 Matthew W. Bourda, Senior Counsel $700 A. Zachary Casas, Attorney $625 Kyle Garza, Attorney $600 Paraprofessional $250 Lane Law Firm received a retainer of $35,000 from the Debtor. According to court filings, Lane Law Firm is a "disinterested person" as defined in section 101(14) of the Bankruptcy Code and holds no interest adverse to the estate. The firm can be reached through: Robert C. Lane, Esq. The Lane Law Firm, PLLC 6200 Savoy, Suite 1150 Houston, TX 77036 Telephone: (713) 595-8200 Facsimile: (713) 595-8201 Email: notifications@lanelaw.com About HPC Motorsports, LLC HPC Motorsports LLC is a Spring, Texas-based automotive performance company. The company provides performance parts sales, professional parts installation, wheels, engine component work, turnkey race motors, and full race performance applications. HPC serves high-performance vehicle customers, including owners of American classic, muscle, late-model super cars, domestic vehicles, and foreign vehicles. HPC Motorsports, LLC sought protection for relief under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Tex. Case No. 26-33781) on May 29, 2026, listing $100,001 to $500,000 in both assets and liabilities. Judge Eduardo V Rodriguez presides over the case. Robert C Lane, Esq. at The Lane Law Firm PLLC serves as the Debtor's counsel. HRONIS INC: Committee Hires Dundon Advisers as Financial Advisor ---------------------------------------------------------------- The official committee of unsecured creditors of Hronis Inc and its affiliates seek approval from the U.S. Bankruptcy Court for the Eastern District of California to employ Dundon Advisers LLC as financial advisor. The firm will provide these services: a. advise the Committee with respect to matters and proceedings in the Debtors' Chapter 11 cases that may impact on the treatment of and recovery by general unsecured creditors; b. provide the Committee with the benefit of its experience in numerous agricultural and farming bankruptcies wherein it advised creditors; c. support counsel to the Committee with regard to motions, responses to motion, and other matters in the Debtors' cases; d. advise the Committee with respect to recovery of preferential payments and fraudulent transfers; e. advise the Committee with respect to potential actions and/or claims against third parties for the benefit of the estate; f. advise the Committee concerning the proposed sale of assets of the Debtors and any raising of debt or equity capital by or for the Debtors or any successor(s) to the Debtors; g. advise and represent the Committee with regard to development and confirmation of a chapter 11 plan(s) or to analyze plans filed in the cases; h. provide reports and testimony with respect to the foregoing, to the extent required by the Committee or its counsel; and i. assist the Committee with respect to other insolvency related matters connected with the Debtors' chapter 11 cases. The firm will be paid at these rates: Eric Reubel, Managing Director $960 per hour Joshua Nahas, Director $960 per hour Alan Schreiber, Senior Director $850 per hour Michael Garbe, Senior Director $850 per hour Christopher Kazantzis, Associate $350 per hour Ty Chang, Associate $350 per hour In addition, the firm will seek reimbursement for its out-of-pocket expenses. Eric Reubel, 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: Eric Reubel Dundon Advisers, LLC 10 Bank Street, Suite 1100 White Plains, NY 10606 Email: er@dundon.com Phone: (917) 626-4051 About About Hronis Inc. Hronis, Inc. is an agricultural company based in Delano, California, that grows, harvests and markets table grapes in California's San Joaquin Valley, with operations dating to 1945. The business cultivates grapes on about 6,000 acres of owned and leased land in Kern and Tulare counties and produces more than 80 million pounds of table grapes annually, supplying major retailers, supermarket chains and other commercial customers through a vertically integrated operation that includes hand harvesting, packing, cold storage and distribution. The company also grows citrus and has begun planting pistachios, which are in early-stage development. The Debtors sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Cal. Lead Case 26-10978) on March 6, 2026, with between $50 million and $100 million in both assets and liabilities. Judge Rene Lastreto II oversees the cases. The Debtors tapped Zev M. Schectman, Esq., and Steven F. Werth, Esq., Mariam Khoudari, Esq., at Saul Ewing, LLP as bankruptcy counsel and Donlin, Recano and Co. as claims and noticing agent. I-HOMES LLC: Seeks to Hire Schrader Group as Real Estate Broker --------------------------------------------------------------- I-Homes, LLC seeks approval from the U.S. Bankruptcy Court for the Southern District of Texas to hire The Schrader Group (broker by eXp Realty, LLC) as real estate broker and agent. The firm will market and sell the Debtor's undeveloped track of land at 9205 Rosehaven Drive, Houston, TX 77051. The broker seeks a commission of 7% of the sales price plus payment of its marketing fee of $999 at closing from the proceeds. As disclosed in the court filings, The Schrader Group is a "disinterested person" within the meaning of 11 U.S.C. Sec. 101(14). The firm can be reached through: Dayton Schrader The Schrader Group 300 E Sonterra Blvd #310 San Antonio, TX 78258 Phone: (210) 757-9788 About I-Homes, LLC I-Homes, LLC engages in real estate investment and offers construction services for third parties. The company owns a 1.2545-acre commercial property in Houston, Texas, valued at approximately $1.4 million. I-Homes, LLC filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Tex. Case No. 26-30933) on February 11, 2026, listing $1,986,112 in assets and $759,923 in liabilities. The petition was signed by Floyd Lyle Jackson as manager. Judge Jeffrey P Norman handles the case. Elias Marwan Yazbeck at The Law Office Of Elias M. Yazbeck, PLLC serves as the Debtor's counsel. INDEPENDENT MEDEQUIP: Hires Sencer Appraisal as Appraiser --------------------------------------------------------- Independent MedEquip LLC seeks approval from the U.S. Bankruptcy Court for the Northern District of Alabama to employ Sencer Appraisal Associates as appraiser. The firm will provide these services: a. review the Debtors' existing DME to determine its value on an itemized basis using industry-recognized methodology, and accounting for the age and present use of the DME. b. provide written reports or testimony if needed to support determined valuations of DME. The firm will be paid at these rates: Appraisal Services $300 per hour Expert Witness & Litigation Services $300 per hour Testimony and Additional Services $300 per hour Travel $300 per hour The firm requested a $10,000 retainer to be held in trust. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Mr. Schwartz, ASA, CEA, 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: Garrett Schwartz Sencer Appraisal Associates 490 Lake Park Avenue, Suite 10142 Oakland, CA 94610 Telephone: (510) 761-6225 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. INHANCE PARENT: Golub Capital Marks $11.6M Loan at 55% Off ---------------------------------------------------------- Golub Capital BDC, Inc. has marked its $11,656,000 loan extended to Inhance Parent, Inc. to market at $5,246,000 or 45% of the outstanding amount, according to Golub Capital BDC's 10-Q for the fiscal year ended March 31, 2026, filed with the U.S. Securities and Exchange Commission. Golub Capital Bdc, Inc. is a participant in a one stop loan extended to Inhance Parent, Inc. The Loan accrues interest at a rate of N/A 20.00% PIK per annum. The Loan matures on June 1, 2029. Golub Capital BDC, Inc. is a business development company that provides financing solutions to middle-market companies. The Fund is led by David B. Golub as Chief Executive Officer (Principal Executive Officer) and Christopher C. Ericson as Chief Financial Officer (Principal Accounting and Financial Officer). The Fund can be reached at: David B. Golub Golub Capital BDC, Inc. 200 Park Avenue, 25th Floor New York, NY 10166 Telephone: (212) 750-6060 About Inhance Parent, Inc. Inhance Parent, Inc. operates as a one-stop solutions provider, offering integrated products and services to its customers. INNOVATE CORP: Broadcasting Unit to Merge With HC2 in Capital Deal ------------------------------------------------------------------ INNOVATE Corp. announced in a regulatory filing that HC2 Broadcasting Holdings Inc and HC2 Broadcasting Holdco, LLC, each an indirect wholly owned subsidiary of the Company, entered into an Agreement and Plan of Merger with HC2 Merger Sub, LLC, a Delaware limited liability company, and CONX Corp., a Nevada corporation, pursuant to which Merger Sub will merge with and into HC2 Broadcasting, with HC2 Broadcasting surviving the Merger as a subsidiary of CONX. "We view this transaction as an important step forward in addressing INNOVATE's capital structure while reinforcing our strategic priorities," said Paul Voigt, Interim CEO of INNOVATE. "Broadcasting and its subsidiaries have successfully acquired and built 260 TV broadcast television stations since 2017, with considerably more underway. Today the segment operates the largest portfolio of Class A and LPTV licenses in the country, distributing more than 50 broadcast networks in over 40 states." Merger Agreement On the terms and subject to the conditions set forth in the Merger Agreement, at the closing of the Merger: (a) the shares of common stock, par value $0.001 per share, of HC2 Broadcasting (other than shares of HC2 Broadcasting Common Stock held by Merger Sub after giving effect to the closing of the Merger) will be converted into the right to receive 25% of the shares of common stock of the Surviving Entity to be outstanding immediately following the Closing, subject to certain adjustments as set forth in the Merger Agreement, and (b) the membership interests of Merger Sub outstanding immediately prior to the Closing will be converted into 75% of the shares of common stock of the Surviving Entity to be outstanding immediately following the Closing, subject to certain adjustments as set forth in the Merger Agreement, which represents the value attributable to: (i) the extinguishment of the Loans and (ii) the funding of an aggregate $75 million in equity commitments by CONX in favor of the Surviving Entity from time to time, at or following the Closing, which equity commitments are subject to certain adjustments as set forth in the Merger Agreement. The Merger Agreement contains customary representations and warranties by each of the parties, and certain covenants, including covenants relating to: (a) the conduct of HC2 Broadcasting's business between the execution of the Merger Agreement and the Closing and (b) their respective efforts to consummate the Merger, including obtaining the required regulatory approvals. The Closing is subject to customary conditions, including: (a) receipt of regulatory approvals, including certain approvals of the Federal Communications Commission and the expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, and (b) that the obligations under the New Loan Agreement shall not have been declared due and payable. The Merger Agreement provides customary termination rights for the parties, including if the Merger has not occurred on or prior to November 29, 2026, subject to two potential extensions to March 1, 2027 and May 29, 2027 in the event the only condition to the Merger that remains unsatisfied as of such dates is the receipt of certain regulatory approvals and certain other exceptions, and contains certain indemnification obligations by the parties thereto in connection with breaches of certain representations and warranties and certain covenants contained in the Merger Agreement, subject to certain exceptions. New Loan Agreement On May 29, 2026, HC2 Broadcasting entered into a loan agreement, as borrower, with Merger Sub, as lender and HC2 Holdco and certain of HC2 Broadcasting's subsidiaries, as guarantors. The New Loan Agreement provides for a bridge loan facility in an aggregate principal amount of $105 million, to be funded in a single drawing on the Loan Closing Date. The proceeds of the Bridge Loan Facility will be used to: (a) fully satisfy and discharge all non-contingent obligations, including all accrued and unpaid interest and fees, under HC2 Broadcasting's and certain of its subsidiaries' 8.50% and 11.45% notes and (b) repurchase equity interests in HC2 Broadcasting and DTV America Corporation held by certain holders of the Existing Notes. HC2 Broadcasting's obligations under the Bridge Loan Facility are guaranteed by HC2 Holdco and certain of HC2 Broadcasting's subsidiaries, and such guarantees are secured by substantially all of the assets of each such Guarantor on a first lien basis (subject to certain customary exclusions). Loans under the Bridge Loan Facility will accrue interest at a rate per annum equal to 8.00%, payable quarterly in kind by capitalizing such interest as additional principal of the Bridge Loan Facility on each interest payment date. The Bridge Loan Facility matures on the first anniversary of the Loan Closing Date. HC2 Broadcasting may not voluntarily prepay the Loans prior to maturity. In the event of any early repayment or acceleration of the Loans, or the Loans reaching maturity without the occurrence of the consummation of the Merger, HC2 Broadcasting is required to repay in cash an amount sufficient to result in a minimum cash return on the original principal amount of the Loans, including all accrued and capitalized interest thereon, of 1.50:1.00. Upon consummation of the Merger, the Loans (including all accrued and capitalized interest thereon) will be extinguished in full. The New Loan Agreement contains certain affirmative and negative covenants that limit the ability of HC2 Broadcasting and the Guarantors, among other things, and subject to certain exceptions, to incur debt or liens, make investments, enter into certain mergers, consolidations, and acquisitions, and pay dividends and make other restricted payments. The New Loan Agreement contains certain events of default, including relating to a change of control and termination of the Merger Agreement. Supplemental Indentures In connection with the Merger, on May 29, 2026, the Company, certain subsidiary guarantors, and U.S. Bank Trust Company, National Association, as trustee and notes collateral agent, entered into certain supplemental indentures, including: (i) a supplemental indenture to the Indenture, dated August 4, 2025 governing its 10.500% Senior Secured Notes due 2027, and (ii) a supplemental indenture to the Indenture, dated August 4, 2025 governing its 9.5% Convertible Senior Secured Notes due 2027. Pursuant to the Supplemental Indentures, certain provisions of the Indentures, including certain definitions and negative covenants, were amended with the consent of the holders of at least a majority in aggregate principal amount of the Notes outstanding voting as a single class. In addition, the Requisite Holders consented to the transactions related to the Merger and the New Loan Agreement and waived any and all defaults, events of default or other defaults that may have occurred, or that may arise under the Indentures as a result thereof. MSD Credit Agreement Amendment In connection with the Merger, on May 29, 2026, the Company entered into a ninth amendment to the Credit Agreement, dated as of March 13, 2020 among the Company, certain subsidiary guarantors and MSD PCOF Partners IX, LLC, as lender. Pursuant to the Ninth Amendment, certain provisions of the MSD Credit Agreement, including certain definitions and negative covenants, were amended with the consent of the Lender. In addition, the Lender consented to the transactions related to the Merger and the New Loan Agreement and waived any and all defaults, events of default or other defaults that may have occurred, or that may arise under the MSD Credit Agreement as a result thereof. Option Agreement In connection with the Merger, on May 29, 2026, CONX, Merger Sub, HC2 Broadcasting, HC2 Holdco and the Company entered into an Option Agreement, pursuant to which HC2 Holdco has the right, but not the obligation, to purchase from CONX up to an aggregate of 15% of the equity interests in the Surviving Entity, on a fully diluted basis, at any time during the period commencing on the closing date of the Merger and ending on the date that is 18 months from the closing date. The option is subject to an aggregate maximum purchase price. The number of Surviving Entity Equity Interests to be purchased upon any exercise will be calculated by dividing the applicable exercise amount by a specified equity valuation and multiplying by the number of fully diluted equity interests outstanding as of the date of the applicable exercise notice. HC2 Holdco may exercise the option on one or more occasions, in whole or in part, subject to a minimum exercise amount. The Option Agreement also provides that, from the date of the Option Agreement until the Option Expiration Date, in the event that the Company or any of its affiliates consummates any asset sale (as defined in the Option Agreement), the Company must cause HC2 Holdco to apply the net cash proceeds from such asset sale to exercise the option, subject to certain exceptions and a working capital reserve. CONX Affiliate Letter Agreement In connection with entry into the Merger Agreement, CONX, an affiliate of CONX, and the Company entered into a letter agreement, dated as of May 29, 2026, pursuant to which CONX and the Company granted the CONX Affiliate the option to acquire up to 80.1% of the equity interests of HC2 Broadcasting, on a fully-diluted basis, at any time during the two-year period following the date of the CONX Affiliate Letter Agreement, at a price equal to the fair market value of the equity interests acquired, calculated as of the expected date of the closing of such option. If the CONX Affiliate exercises the option, the Company will have a certain period of time to exercise its option under the Option Agreement, after which, if not exercised, the option under the Option Agreement will automatically terminate. The Company may elect to require the CONX Affiliate to acquire all of the equity interests held by the Company at the later to occur of the Closing or the closing of such option exercise by the CONX Affiliate. Additional Information Full text copies of the Merger Agreement, the New Loan Agreement, the Supplemental Indentures, the Ninth Amendment, the Option Agreement, and the CONX Affiliate Letter Agreement are available at https://tinyurl.com/3caujdnu, https://tinyurl.com/2jecw5v8, https://tinyurl.com/5d92ee27, https://tinyurl.com/5dcsexsn, https://tinyurl.com/25t3xy44, https://tinyurl.com/y4b2ddab, and https://tinyurl.com/5n7fd2zs, respectively. About Innovate INNOVATE Corp. is a diversified holding company that has a portfolio of subsidiaries in a variety of operating segments. The Company seeks to grow these businesses so that they can generate long-term sustainable free cash flow and attractive returns in order to maximize value for all stakeholders. While the Company generally intends to acquire controlling equity interests in its operating subsidiaries, the Company may invest to a limited extent in a variety of non-controlling equity interest positions or debt instruments. The Company's shares of common stock trade on the New York Stock Exchange under the symbol "VATE". Atlanta, Georgia-based BDO USA, P.C., the Company's auditor since 2011, issued a "going concern" qualification in its report dated March 26, 2026, citing that the Company has significant upcoming maturities of its debt obligations and is subject to certain cross-default provisions. These conditions raise substantial doubt about the Company's ability to continue as a going concern. As of March 31, 2026, the Company had $936.8 million in total assets, $1.169 billion in total liabilities, $10.8 million in total temporary equity, and $243 million in total stockholders' deficit. INTEGRATED PROTEINS: Affiliate Seeks Cash Collateral Access ----------------------------------------------------------- Innovity Ventures, LLC, an affiliate of Integrated Proteins LLC, asks the U.S. Bankruptcy Court for the District of Kansas for emergency authorization to use cash collateral and provide adequate protection. The request is part of a broader coordinated restructuring involving several affiliated debtors, including Integrated Proteins, LLC, Nutrihub, LLC, HFO Logistics, LLC, and Hubbard Ingredients, LLC, which together operate as an integrated enterprise engaged in manufacturing and distributing commercial pet food products. The Debtor functions primarily as a holding company with no employees and generates income solely through rent and pass-through debt payments from its affiliated operating entities. The Debtor explains that the affiliated cases have already been jointly administered, and a lead case (Integrated Proteins) has been established with an existing interim cash collateral order. Innovity seeks to align itself with that existing structure, requesting permission to use cash collateral on the same terms previously approved by the Court in the lead case. Under that earlier order, weekly rent payments of $20,000 and monthly debt service payments of $35,000 were authorized, and Innovity asserts that those amounts substantially cover its own budget needs, with only a minimal shortfall of approximately $145 that it believes can be managed internally. The Debtor emphasizes that its requested relief is necessary to maintain ongoing operations and preserve value within the integrated enterprise structure, particularly because its income is derived directly from the affiliated Debtors' payments. It also notes that its budget aligns closely with the existing approved cash flow structure and that granting this motion would promote administrative efficiency and consistency across the jointly administered cases. A copy of the motion is available at https://urlcurt.com/u?l=hVZepF from PacerMonitor.com. About Integrated Proteins LLC Integrated Proteins, LLC and affiliates sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Kan. Lead Case No. 26-20713) on May 6, 2026. At the time of filing, Debtors had estimated assets of between $50,000,001-$100 million and liabilities of between $100,000,001-$500 million. Judge Dale L Somers oversees the case. Prelle Eron & Bailey, P.A. and Haupt Law PC serve as the Debtors' legal counsel. David R. Payne, executive managing director at Marshall & Stevens serves as the Debtor's chief restructuring officer. JETBLUE AIRWAYS: S&P Lowers ICR to 'CCC+' on Elevated Fuel Costs ---------------------------------------------------------------- S&P Global Ratings lowered its issuer credit rating on JetBlue Airways Corp. to 'CCC+' from 'B-'. At the same time, S&P lowered its issue-level rating on its loyalty debt, including the senior secured term loan and notes, by one notch to 'B', with no change to the '1' recovery rating (rounded estimate: 95%). S&P said, "The stable outlook reflects our expectation that JetBlue will maintain sufficient liquidity to fund projected free cash flow deficit through 2027, with a lack of significant near-term maturities, such that we do not envision a default or restructuring over the next 12 months. "Given the ongoing Middle East conflict and material rise in oil and jet fuel prices, we expect JetBlue's operating performance to be significantly pressured over at least the next 12 months. "A strong demand environment continues to support higher air fares, but we no longer expect positive free cash flow generation until 2028 and project leverage to be about 10x by the end of 2027. "Our downgrade reflects our expectation for materially weaker cash flow generation this year due to sharply higher jet fuel prices, further delaying recovery in credit measures. We now project a significantly wider free cash flow deficit of about $1 billion in 2026, nearly double our previous projection, with negative free cash flow continuing into 2027. "Prior to the outbreak of the Middle East war, JetBlue already had minimal downside cushion in its metrics, with our stable outlook dependent on the airline's substantial liquidity position and our previous expectation for free cash flow generation in 2027. While liquidity remains sufficient ($2.8 billion including cash and short term investments and $600 million undrawn revolver), we anticipate it will decline to about $2 billion by the end of the year. Following the $500 million debt financing in April, we assume about $500 million of incremental debt raise (including $250 million accordion draw) this year to maintain target liquidity position of about 17% of revenue." JetBlue has ample borrowing capacity based on the considerable size of its unencumbered asset base, but an increasing debt service burden exacerbates an already pressured cost structure. S&P said, "We view further debt issuance as likely if fuel prices remain elevated or if JetBlue's ability to raise fares does not materialize as expected. In our view, the company's capital structure appears to be unsustainable in the long term based on its significant leverage (several years at double-digit levels), and it is now increasingly dependent on much stronger earnings and cash flow in 2027." S&P said, "We note that the demand environment remains strong, with all airlines reporting successful price increases. JetBlue recently updated its second-quarter guidance, reflecting better-than-expected unit revenue trends, citing positive demand trends across all cabins and geographies. In addition, the airline is seeing signs of outperformance on routes exited by Spirit following its liquidation last month. We project about a 10% growth in unit revenue in the second quarter, coming down to about 8.5% in the second half of 2026 as fuel prices moderate. "Despite the improved outlook, we believe JetBlue's pricing power is limited, especially compared with network carriers, mainly due to mix of premium cabin, corporate travel, and international routes. We assume West Texas Intermediate (WTI) prices of $105/bbl for the remainder of the 2026, reflecting persistent oil supply disruptions, alongside elevated geopolitical risk as U.S.-Iran peace talks remain at a standstill. With full-year fuel price assumptions of about $3.70/gallon, our 2026 EBITDA projection has declined significantly, with margins in the 1%-2% range, leading to another year of leverage we view as unsustainably high. "We believe an improvement in metrics beyond 2026 is heavily dependent upon favorable macroeconomic and business conditions, including fuel costs moderating toward the end of this year, demand remaining strong, and successful execution of the turnaround plan. While we remain constructive on the JetForward initiatives, particularly the efforts to expand premium offerings and bolster its loyalty program, material upside to its margins beyond 2023 and 2024 levels has yet to be demonstrated. Moreover, the company has a substantial debt burden that could grow. In our view, JetBlue is increasingly dependent on successfully executing its turnaround strategy to generate and sustain positive earnings. The airline industry remains highly volatile with limited visibility, and JetBlue is considerably smaller than its peers, with limited pricing power making it more vulnerable during market volatility. "The stable outlook reflects our expectation that JetBlue will maintain sufficient liquidity to fund an expected free cash flow deficit over the next year with a lack of significant near-term maturities, such that we do not envision a default or restructuring over the next 12 months. "Although unlikely due to JetBlue's liquidity position and lack of near-term maturities, we could lower the ratings if we expect a payment default, covenant breach, or distressed debt restructuring over the next 12 months." S&P could raise its ratings on JetBlue if: -- JetBlue achieves material margin improvement such that we no longer expect sustained free cash flow deficit; and -- S&P no longer views the capital structure as unsustainable, based on an expected path to sustainably lower leverage. JFY PROPERTIES: Gets Court OK to Use Cash Collateral Until June 30 ------------------------------------------------------------------ JFY Properties, LLC and JFY Properties II, LLC received interim approval from the U.S. Bankruptcy Court for the District of Maryland to use cash collateral. Under the interim order, the Debtors are authorized to use cash collateral from May 26 through June 30 in accordance with an approved operating budget, which projects total operational expenses of $36,199 for June. The Debtors' cash collateral primarily consists of rental income from their property: a 60-unit apartment building located in Baltimore, Maryland. As of the petition date, Fund Investment 171, LLC asserts an outstanding secured claim of approximately $12.06 million, reflecting accrued interest and default interest following alleged default after the loan maturity was extended to January 5, 2026. This claim is secured by substantially all of JFY Properties II's assets, including rents and other payment rights that constitute cash collateral. As adequate protection, Fund Investment 171 will receive replacement liens on all post-petition assets and their proceeds, with the same extent and priority as its alleged pre-petition liens. The court scheduled a final hearing for June 29 and set a June 26 deadline for filing objections. The order is available at http://bankrupt.com/misc/JFYProperties_ICCOrder.pdf JFY Properties and JFY Properties II, both operating as debtors-in-possession, are affiliated entities. JFY Properties II owns and operates the Baltimore property, which was recently appraised at approximately $16.43 million. The Debtors filed bankruptcy on May 26 shortly before a scheduled state court hearing on Fund Investment 171's request to appoint a receiver over the property. The filing was intended to preserve the property and facilitate a potential refinancing, restructuring, or sale for the benefit of creditors. About JFY Properties LLC JFY Properties LLC owns and operates The National, a 60-unit apartment building located in Baltimore, Maryland that is nearly fully leased. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Md. Case No. 26-15569) on May 26, 2026. In the petition signed by David Penner, manager, the Debtor disclosed up to $10 million in both assets and liabilities. Justin P. Fasano, Esq., McNamee Hosea, P.A., represents the Debtor as legal counsel. JMK5 MALL: Case Summary & Four Unsecured Creditors -------------------------------------------------- Debtor: JMK5 Mall of the Mainland LLC 10000 Emmett F. Lowry Expy Texas City, TX 77591 Business Description: JMK5 Mall of the Mainland LLC is a Texas City, Texas-based real estate company associated with Mainland City Centre, a redeveloped mixed-use retail, entertainment, and lifestyle center at 10000 Emmett F. Lowry Expressway. The property was formerly known as Mall of the Mainland and serves as a commercial destination for retail, dining, entertainment, and lifestyle tenants. Chapter 11 Petition Date: June 2, 2026 Court: United States Bankruptcy Court Southern District of Texas Case No.: 26-80397 Debtor's Counsel: Richard L Fuqua, II, Esq. FUQUA & ASSOCIATES, P.C. 8558 Katy Fwy Suite 119 Houston TX 77024 Tel: (713) 960-0277 E-mail: RLFuqua@fuqualegal.com Estimated Assets: $10 million to $50 million Estimated Liabilities: $10 million to $50 million The petition was signed by Jarome Karam as manager. A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/R77RCDY/JMK5_Mall_of_the_Mainland_LLC__txsbke-26-80397__0001.0.pdf?mcid=tGE4TAMA List of Debtor's Four Unsecured Creditors: Entity Nature of Claim Claim Amount 1. Nuveen LLC Loan $2,978,551 19 Old Kings Highway South Ste 210 Darien, CT 06820 2. North Mills Credit Trust Equipment Loan $996,326 9 Executive Circle Ste 230 Houston, TX 77205 3. Reliant Energy $53,619 PO Box 1532 Houston, TX 77251 4. City of Texas City $4,531 PO Box 3837 Texas City, TX 77592 K&M JACKSON: Seeks Approval to Tap Exceed Realty as Estate Broker ----------------------------------------------------------------- K&M Jackson Enterprises, LLC seeks approval from the U.S. Bankruptcy Court for the Southern District of Texas to employ Exceed Realty as real estate broker. The Debtor needs an agent to market and sell its properties located at: (a) 15911 Fir Rd., Santa Fe, Texas; and (b) 4602 Orem Rd., Santa Fe, Texas. The firm will receive a commission of 4.5 percent of the properties' sales price, plus 5 percent if a buyer is procured and under contract within 30 days of the listing. Ella Brooks, a real estate agent at Compensate Exceed Realty, 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: Ella Brooks Exceed Realty 672 B. Knowles Ave. Southampton, PA 18966 Telephone: (833) 439-2333 About K&M Jackson Enterprises LLC K&M Jackson Enterprises, LLC operates in the childcare services industry and is associated with the Kids of Valor Academy brand, providing early childhood education and preschool programs across multiple Texas locations. K&M sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 26-80149) on March 2, 2026, listing up to $10 million in both assets and liabilities. Mona Jackson, chief executive officer, signed the petition. Judge Alfredo R. Perez oversees the case. Alex Olmedo Acosta, Esq., at Acosta Law PC represents the Debtor as counsel. KALAMAZOO CANDLE: Hires CBH Attorneys & Counselors PLLC as Counsel ------------------------------------------------------------------ Kalamazoo Candle Company, LLC seeks approval from the U.S. Bankruptcy Court for the Western District of Michigan to hire CBH Attorneys & Counselors, PLLC, as attorneys. The firm's services include: a. providing information to Debtor with regard to its duties and responsibilities as required by the United State Bankruptcy Code of debtor-in-possession; b. assisting in the preparation of schedules and statement of affairs; c. drafting pleadings that are necessary or advisable to further the Debtor's goal of successfully obtaining confirmation of Chapter 11 Plan; d. researching legal issues that may arise during the course of Debtor's bankruptcy proceedings; e. pursuing and all claims of Debtors against third parties, including, but not limited to, preferences, fraudulent conveyances, and accounts receivable; f. representing Debtor with regard to any actions brought against it by third parties in the bankruptcy proceeding; g. assisting in the negotiations with secured, unsecured, and priority creditors; h. communicating with the United States Trustee's Office and Subchapter V Trustee; i. drafting a Plan of Reorganization with a likelihood of confirmation; and j. obtaining confirmation of a Plan of Reorganization. The firm will be paid at these rates: Partners or Senior Attorneys $400 per hour Associate Attorneys $300 per hour Paralegals $175 to $195 per hour The firm received from the Debtor a retainer of $15,000. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Steven M. Bylenga, Esq., a partner at CBH Attorneys & Counselors, 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: Steven M. Bylenga, Esq. CBH Attorneys & Counselors, PLC 25 Division Avenue S, Suite 301 Grand Rapids, MI 49007 Tel: (616) 608-3061 Email: steve@cbhattorneys.com About Kalamazoo Candle Company, LLC Kalamazoo Candle Company, LLC is a Kalamazoo, Michigan-based candle company founded in 2013. The company handcrafts made-to-order soy candles and sells candle products and related fragrance and accessory items, including classic candles, botanicals, large 2-wick candles, car fresheners, warmers, candle-care products, matchboxes, aroma oils, wax melts, votives, and travel tins. It also produces custom label candles, offers DIY candle-making experiences, and supports wholesale candle ordering. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Mich. Case No. 26-01606) on May 15, 2026. In the petition signed by David Adam McFarlin, member/manager, the Debtor disclosed $148,682 in total assets and $2,115,854 in total liabilities. Judge Scott W. Dales oversees the case. Steven M. Bylenga, Esq., at CBH ATTORNEYS & COUNSELORS, PLLC, represents the Debtor as legal counsel. KALAMAZOO CANDLE: Hires Wesler & Associates CPA PC as Accountant ---------------------------------------------------------------- Kalamazoo Candle Company, LLC seeks approval from the U.S. Bankruptcy Court for the Western District of Michigan to hire Wesler & Associates CPA PC as accountant. The firm will provide these services: a. preparation of operating reports; b. preparation of tax returns; and c. additional accounting services including bookkeeping support, payroll, and year end journal entries. The firm will be paid at these rates: Cheryl Wesler, CPA $375 per hour Kristin Lytle, CPA $275 per hour Support Staff $175 per hour The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Cheryl Wesler, CPA, a partner at Wesler & Associates CPA PC, 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: Cheryl Wesler, CPA Wesler & Associates CPA, PC 4664 Campus Drive, Suite 100 Kalamazoo, MI 49008 Telephone: (269) 482-1015 Email: info@weslercpa.com About Kalamazoo Candle Company, LLC Kalamazoo Candle Company, LLC is a Kalamazoo, Michigan-based candle company founded in 2013. The company handcrafts made-to-order soy candles and sells candle products and related fragrance and accessory items, including classic candles, botanicals, large 2-wick candles, car fresheners, warmers, candle-care products, matchboxes, aroma oils, wax melts, votives, and travel tins. It also produces custom label candles, offers DIY candle-making experiences, and supports wholesale candle ordering. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Mich. Case No. 26-01606) on May 15, 2026. In the petition signed by David Adam McFarlin, member/manager, the Debtor disclosed $148,682 in total assets and $2,115,854 in total liabilities. Judge Scott W. Dales oversees the case. Steven M. Bylenga, Esq., at CBH ATTORNEYS & COUNSELORS, PLLC, represents the Debtor as legal counsel. KBK PROPERTY: Case Summary & Four Unsecured Creditors ----------------------------------------------------- Debtor: KBK Property Developers Ltd 1428 Van Winkle Dr Carrollton, TX 75007 Business Description: KBK Property Developers Ltd. owns a commercial mixed-use property at 375 King Rea in Georgetown, Texas, valued at about $3.5 million. Chapter 11 Petition Date: June 2, 2026 Court: United States Bankruptcy Court Eastern District of Texas Case No.: 26-41944 Debtor's Counsel: Robert Newark, Esq. NEWARK LAW OFFICES 1341 W. Mockingbird Ln, Ste 600W Dallas, TX 75247 Tel: (866) 230-7236 E-mail: robert@newarkfirm.com Total Assets: $3,500,000 Total Liabilities: $3,303,044 Bharath Kakkireni signed the petition as owner. A full-text copy of the petition, which includes a list of the Debtor's four unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/3DMSONY/KBK_PROPERTY_DEVELOPERS_LTD__txebke-26-41944__0001.0.pdf?mcid=tGE4TAMA KDC AGRIBUSINESS: Court Won't Remand Suit v Foley & Lardner ----------------------------------------------------------- Judge Craig T. Goldblatt issued his preliminary observations on the motion of GEORGE L. MILLER, the Chapter 7 Trustee of KDC Agribusiness, LLC, to remand the adversary proceeding captioned as GEORGE L. MILLER, not individually, but as Chapter 7 Trustee of KDC Agribusiness, LLC, et al., Plaintiff, v. FOLEY & LARDNER, LLP, Defendant, Adv. Proc. No. 26-50207 (CTG) (Bankr. D. Del.) to state court. This adversary proceeding is a legal malpractice action brought by the chapter 7 trustee against a law firm that represented the debtors both before and after they filed for chapter 11 bankruptcy. The Court later converted the cases to ones under chapter 7. The trustee filed the malpractice action in state court and the law firm removed it to this Court, contending that this Court has subject-matter jurisdiction under 28 U.S.C. Sec. 1334(b). The trustee has moved to remand the case back to state court, arguing that it is subject to both mandatory and permissive abstention under 28 U.S.C. Sec. 1334(c). Based on its preliminary analysis, it appears to the Court that mandatory abstention is not applicable because the state court case was not pending at the time the bankruptcy case was filed. The Court is also disinclined to abstain on a permissive basis. The Court's preliminary view is that there is sufficient overlap between the facts at issue in the malpractice action and those with which the Court became familiar while presiding over these bankruptcy cases that principles of judicial economy would be served by retaining jurisdiction over the matter in this Court. A copy of the Court's Preliminary Observations dated June 1, 2026, is available at http://urlcurt.com/u?l=9IDCRlfrom PacerMonitor.com. About KDC Agribusiness KDC Agribusiness, LLC, was a food waste recycler company in Bedminster, N.J. KDC and its affiliates sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Lead Case No. 23-10786) on June 16, 2023. In the petition signed by David Buffa, general counsel and corporate secretary, KDC disclosed $100 million to $500 million in both assets and liabilities. Judge Craig T. Goldblatt oversaw the case. The Debtors tapped John H. Knight, Esq., at Richards, Layton and Finger, P.A. as bankruptcy counsel; Foley & Lardner, LLP and Okin Hollander, LLC as special counsels; AlixPartners, LLP as financial restructuring advisor; and Jefferies, LLC as investment banker. Kurtzman Carson Consultants, LLC, was the Debtor's claims agent and administrative advisor. In November 2023, the bankruptcy court converted the case to Chapter 7. LA GEOTHERMAL: Hires Trak Financial as Tax Return Preparer ---------------------------------------------------------- LA Geothermal Energy Corp. seeks approval from the U.S. Bankruptcy Court for the Central District of California to employ Trak Financial Services as tax return preparer. The firm will prepare the Debtor's 2025 federal and state tax returns, and provide limited accounting assistance necessary for such filing. The firm will be paid a flat fee of $3,300. Scott C. Stewart, a partner at Trak Financial Services, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Scott C. Stewart Trak Financial Services 21771 Stevens Creek Blvd., Suite 100 Cupertino, CA 95014 Tel: (650) 474-5858 About LA Geothermal Energy Corp. LA Geothermal Energy Corp. provides industrial management consulting services with a focus on restoring value to distressed real estate properties in the United States. LA Geothermal Energy Corp. filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. C.D. Fla. Case No. 26-10518) on January 21, 2026, listing $144,556 in assets and $1,369,633 in liabilities. The petition was signed by Cornelius Rogers as managing member. Judge Deborah J Saltzman presides over the case. Kevin Tang, Esq., at Tang & Associates, is the Debtor's legal counsel. Newtek Bank, N.A., as lender, is represented by Angela N. Gill, Esq., at HEMAR, ROUSSO & HEALD, LLP. LAKE EFFECT: Court Extends Cash Collateral Access to Aug. 12 ------------------------------------------------------------ Lake Effect Investments, Inc. received another extension from the U.S. Bankruptcy Court for the Middle District of Florida, Fort Myers Division, to use cash collateral. At the recently held hearing, the court authorized the Debtor's interim use of cash collateral through August 12 under the same terms as the prior order. As of the petition date, the Debtor held approximately $9,000 in accounts receivable and about $12,500 in inventory, both of which are allegedly subject to security interests held by lenders. The Debtor identifies two U.S. Small Business Administration loans totaling approximately $1.28 million and additional loans from Rewards Network Services, Inc. and Rocket Capital, LLC, totaling roughly $125,344. These lenders allegedly perfected liens through UCC-1 financing statements covering accounts receivable, inventory, and related proceeds, making the resulting funds "cash collateral" under bankruptcy law. The Debtor offers any creditor holding a security interest in the cash collateral a replacement lien on all accounts receivable acquired on or after the petition date. About Lake Effect Investments Inc. Lake Effect Investments, Inc. is a privately held investment company based in Florida that is primarily engaged in real estate investment and asset management. It focuses on acquiring and managing property-related holdings, including residential and commercial real estate assets. Lake Effect Investments sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 26-01062) on May 5, 2026. In its petition, the Debtor reported assets of between $50,001 and $100,000 and liabilities of between $1 million and $10 million. Ruediger Mueller of TCMI, Inc. serves as Subchapter V trustee for the Debtor. The Debtor is represented by Jonathan M. Bierfeld, Esq., at Martin Law Firm P.L. Ruediger Mueller of TCMI, Inc. serves as Subchapter V trustee for the Debtor. LATTICE SEMICONDUCTOR: S&P Affirms 'BB' ICR on Acquisition Of AMI ----------------------------------------------------------------- S&P Global Ratings affirmed its 'BB' issuer credit rating and stable outlook on Lattice Semiconductor Corp. The debt is unrated. S&P said, "The stable outlook reflects our view that Lattice's business will strengthen with the combination of AMI, which complements its field programmable array (FPGA) technology. It also reflects our expectation that AMI will improve Lattice's profitability and support healthy FOCF. We expect Lattice to organically deleverage to 1.9x by the end of 2027, building approximately one turn of cushion at the rating to absorb unexpected market volatility." Lattice announced plans to acquire AMI, a platform firmware and infrastructure manageability software provider for cloud and AI, for $1.65 billion. It will finance the acquisition with $950 million in debt, $650 million in common equity, and approximately $50 million cash on hand. The acquisition will increase S&P Global Ratings-adjusted debt to EBITDA to roughly 2.2x a year after close from 0.2x at the end of 2025. S&P believes expected earnings and free operating cash flow (FOCF) growth will support continued deleveraging. The affirmation reflects expected deleveraging in the next 12 months. Lattice's acquisition of AMI adds $950 million in funded debt to its capital structure and raises adjusted leverage to 2.2x in the 12 months after close (third quarter of 2026) from 0.2x at the end of 2025. S&P said, "We anticipate deleveraging to be led by solid earnings and FOCF, supported by resilient market tailwinds in the Compute & Communications segment (its order backlog extends well into 2027) and integration of software-centric, asset-light AMI. We expect incremental leverage improvement to 1.9x by the end of 2027, broadly in line with management's gross leverage forecast of less than 2x after 18-24 months of transaction close." S&P said, "We believe Lattice has decent headroom at the rating to absorb unexpected market volatility. While we do not net cash in our adjusted debt calculation or consider opportunistic debt repayment using excess cash flow, we believe solid adjusted FOCF of $290 million-$300 million in 2027 allows for further debt paydown. This could be a near-term use of cash given our expectation that the company will prioritize AMI business integration over incremental mergers and acquisitions. Lattice has a record of operating with no debt on the balance sheet since 2023. As such, we've tended to view the company as more conservative and generally prudent with its financial policy." Lattice's limited history of transformative acquisitions increases integration risks. S&P said, "Although Lattice and AMI provide complementary products, we believe there may be some risk based on our view of Lattice's limited record of large-scale acquisitions and opportunities outside its core FPGA domain. Its strategy has been technology tuck-in related, including the November 2021 deal for advanced AI software and computer vision technology firm Mirametrix Inc. for $68.5 million. We believe synergies are much greater since integration of AMI establishes Lattice as a secure management and control platform. Successful integration will be important given that the acquisition is somewhat transformative and materially alters Lattice's credit profile." S&P said, "We believe AMI may improve growth prospects and profitability over time. With the deal, Lattice expands offerings to include bootware (55% of AMI's projected 2026 revenues) and manageability and security capabilities (45%). It positions the firm as a secure management and control software platform that supports programmable power and cooling controls and predictive maintenance to maximize productivity. "We expect Lattice will maintain a “companion chip” strategy because AMI's firmware is also processor and silicon agnostic, critical for broad connectivity and uses. The acquisition also advances Lattice's growth trajectory, placing it on track to generate $1 billion in annual run-rate revenue by the end of 2026. The greater business scale supports increasing the company's serviceable addressable market, which it forecasts will double to $12 billion over the next 3-4 years from $6 billion in 2025 from resilient data center demand. Management has stated it expects servers to account for 38% of total revenues this year and AI for 25%, up from 15% of revenue two years ago and the high-teens percent in 2025, respectively. "We also anticipate AMI will be margin-accretive due to its software-centric, asset-light model and consistent with Lattice's fabless model that has underpinned above average absolute profitability. Coupled with our expectation that Lattice will maintain operating discipline, enjoy operating leverage gains, and have little to no associated restructuring, we project S&P Global Ratings-adjusted margin improvement to the low-40% area by the end of 2027 from 33% in 2025. This assumption considers a return to its 2022 and 2023 operating margins versus the last two years impaired by market weakness. "The stable outlook reflects our view that the AMI acquisition complements Lattice's offerings and business strategy and that it strengthens overall business prospects by positioning the business as a platform provider and supporting margin expansion. It also considers our expectation that it will quickly deleverage to 2.2x a year post-close and 1.9x by the end of 2027 on improved earnings. Integration-related risks may weaken earnings from our base-case forecast. We expect free cash flow to remain healthy and believe it could also support debt reduction." S&P could lower its rating on Lattice if it anticipates S&P Global Ratings-adjusted leverage to remain above 3x. This could occur if: -- EBITDA is weaker than anticipated due to a steadying of hyperscaler demand and/or rising expenses to support the newly acquired business, optimize the long-term cost structure, or macroeconomic/geopolitical pressure contributes to cost inflation; -- S&P believes cushion to absorb market volatility remains diminished; or -- Lattice fundamentally shifts its financial policy, whereby S&P views the company as more acquisitive and likely to finance mergers and acquisitions with incremental debt. S&P could raise its rating on Lattice if: -- It continues to gain scale and geographic or end-market diversity such that we believe its business profile is better positioned to absorb market volatility; and -- S&P expects the company will maintain leverage well below 2x and FOCF to debt well above 25% at the bottom of the cycle on a sustained basis accounting for market volatility, share buybacks, and/or potential acquisitions. LENMAR ROBERTSON: Hires Thomas B. Ure as Bankruptcy Counsel ----------------------------------------------------------- Lenmar Robertson, LLC seeks approval from the U.S. Bankruptcy Court for the Central District of California to employ Thomas B. Ure as general bankruptcy counsel. The firm will provide these services: a. advise the Debtor regarding matters of bankruptcy law and concerning the requirement of the Bankruptcy Code, and Bankruptcy Rules relating to the administration of this case, and the operation of the Debtor's estate as a debtor in possession; b. represent the Debtor in proceedings and hearings in the court involving matters of bankruptcy law; c. assistance in compliance with the requirements of the Office of the United States trustee; d. provide the Debtor legal advice and assistance with respect to the Debtor's powers and duties in the continued operation of the Debtor's business and management of property of the estate; e. assist the Debtor in the administration of the estate's assets and liabilities; f. prepare necessary applications, answers, motions, orders, reports and/or other legal documents on behalf of the Debtor; g. assist in the collection of all accounts receivable and other claims that the Debtor may have and resolve claims against the Debtor's estate; h. provide advice, as counsel, concerning the claims of secured and unsecured creditors, prosecution and/or defense of all actions; i. prepare, negotiate, prosecute and attain confirmation of a plan of reorganization; The firm will be paid at these rates: Thomas B. Ure $495 per hour Associates $395 per hour Paralegals $295 per hour Law clerks $195 per hour The firm received $9,238 as an initial deposit fees and expenses (including $1,738 filing fee) for representation in a chapter 11 proceeding. In addition, the firm will seek reimbursement for its out-of-pocket expenses. Thomas B. Ure, 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 at: Thomas B. Ure, Esq. Ure Law Firm 8280 Florence Avenue, Suite 200 Downey, CA 90240 Tel: (213) 202-6070 Fax: (213) 202-6075 Email: tom@urelawfirm.com About Lenmar Robertson, LLC Lenmar Robertson, LLC is engaged in real estate ownership and investment activities. The company manages property assets and related operations, including leasing and administrative oversight. Lenmar Robertson, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Cal. Case No. 25-21079) on December 10, 2025. In its petition, the Debtor reports estimated assets between $1 million and $10 million and estimated liabilities in the same range. The case is handled by Honorable Bankruptcy Judge Sheri Bluebond. The Debtor is represented by Thomas B. Ure of the Ure Law Firm. LIA HOSPITALITY: Trustee Seeks to Tap Rubin & Levin as Counsel -------------------------------------------------------------- Meredith R. Theisen, Chapter 11 trustee of Lia Hospitality Group, LLC, seeks approval from the U.S. Bankruptcy Court for the Southern District of Indiana to employ Rubin & Levin as her counsel. The firm will render these services: (a) assisting the Trustee with respect to her duties pursuant to section 1106(a) of the Bankruptcy Code; (b) assisting, advising and representing the Trustee regarding the administration of this case; (c) assisting, advising and representing the Trustee in analyzing the assets and liabilities of the Debtor; (d) reviewing and analyzing all applications, motions, orders, statements and schedules filed with the Court by the Debtor or third parties, and after consultation with the Trustee, taking appropriate actions; (e) preparing necessary applications, motions, answers, orders, reports and other legal papers on behalf of the Trustee; (f) assisting the Trustee in the disposition of assets of the bankruptcy estate pursuant to section 363 of the Bankruptcy Code; (g) assisting, advising and representing the Trustee in investigating and prosecute actions under chapter 5 of the Bankruptcy Code; (h) under the direction of the Trustee, if warranted, prepare a chapter 11 plan and assist with all matters related to confirmation and consummation of such plan; (i) representing the Trustee in connection with any litigation, disputes or other matters that may arise in connection with this case or any related proceedings; and (j) assisting, advising and representing the Trustee as to any and all other matters incident to the proper preservation and administration of the assets of the bankruptcy estate. Rubin & Levin will perform legal services based on its ordinary and customary hourly rates. As disclosed in the court filings, Rubin & Levin is a "disinterested person" within the meaning of section 101(14) of the Bankruptcy Code. The firm can be reached through: Morgan A. Decker, Esq. Rubin & Levin, P.C. 135 N. Pennsylvania Street, Suite 1400 Indianapolis, IN 46204 Tel: (317) 634-0300 Fax: (317) 263-9411 About Lia Hospitality Group LLC Lia Hospitality Group LLC operates the Baymont Inn in Muncie, Indiana, overseeing daily hotel operations, guest services, maintenance, and property management. Lia Hospitality Group LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Ind. Case No. 26-01663) on Mar. 23, 2026. In the petition signed by Chirag Patel, vice president, the Debtor disclosed up to $10 million in assets and up to $10 million in liabilities. Judge Andrea K. McCord oversees the case. Preeti Gupta, Esq., serves as the Debtor's counsel. LIVECARE INC: Case Summary & 20 Largest Unsecured Creditors ----------------------------------------------------------- Debtor: LiveCare, Inc. d/b/a LiveCare Health f/k/a Gulf Chronic Care, Inc. 420 S. Tamiami Trail Osprey, FL 34229 Business Description: LiveCare, Inc., provides diabetic health coaching, monitoring, and support services for seniors with diabetes. The company offers services including 24/7 health coaching, proactive and preventative care, caregiver updates, emergency assistance, medical assistance coordination, physicals, concierge services, testing supplies, nutrition guides, and doctor- accessible health readings. LiveCare, Inc. was founded in March 2018 and is based in Venice, Florida. Chapter 11 Petition Date: June 2, 2026 Court: United States Bankruptcy Court Middle District of Florida Case No.: 26-04769 Judge: Hon. Catherine Peek McEwen Debtor's Counsel: Kathleen L. DiSanto, Esq. BUSH ROSS, P.A. PO Box 3913 Tampa, FL 33601-3913 Tel: 813-224-9255 E-mail: kdisanto@bushross.com Estimated Assets: $100,000 to $500,000 Estimated Liabilities: $1 million to $10 million The petition was signed by Cornelius Max Rockwell as CEO and director. A copy of the Debtor's list of its 20 largest unsecured creditors is available for free on PacerMonitor at: https://www.pacermonitor.com/view/ODZOZGA/LiveCare_Inc__flmbke-26-04769__0003.0.pdf?mcid=tGE4TAMA A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/JYNQ3UQ/LiveCare_Inc__flmbke-26-04769__0001.0.pdf?mcid=tGE4TAMA LRS HOLDINGS: S&P Raises ICR to 'B' on Profitable Organic Growth ---------------------------------------------------------------- S&P Global Ratings raised its issuer credit rating (ICR) on U.S. Midwestern-focused recycling services provider LRS Holdings LLC to 'B' from 'B-'. S&P also raised the issue-level ratings to 'B' from 'B-', in line with the revision to the ICR. The recovery rating for the first-lien senior secured credit facilities remains unchanged at '3' (rounded estimate: 65%). The stable outlook reflects S&P's view that LRS, despite its acquisition-oriented growth strategy, will maintain a weighted-average adjusted debt to EBITDA near 6.5x. LRS Holdings has enjoyed healthy organic growth in its residential and commercial business, divested less-profitable assets, and continues on a path of reducing debt leverage towards 6.5x. S&P said, "We expect leverage to improve over the next 12-18 months. The new Indianapolis contract has provided a source of healthy organic growth. Our base-case forecast contemplates the S&P Global Ratings-adjusted debt-to-EBITDA ratio improving to 6.1x in 2026 from 7.4x in 2025, with funds from operations (FFO) to debt rising to 8.8% in 2026 from a meager 3.7% in 2025." This improvement is driven by modest adjusted EBITDA margin expansion, supported by significant selling, general, and administrative expense (SG&A) efficiencies, the full-period realization of the Indianapolis municipal contract, and the successful integration of recent acquisitions. Additionally, recent divestitures have strengthened liquidity and provided the opportunity to shift focus toward new markets. Specifically, the entry into Indianapolis offers LRS expansion opportunities in the region, complementing its northern Indiana and southern Michigan operations. On a weighted average basis, LRS' leverage could eventually improve to below 5.5x, placing it at the stronger end of the highly leveraged category. Despite a temporary decline in revenue, S&P expects a recovery in both revenue and EBITDA starting in 2027. In the first quarter of 2026, revenue declined by 3% year over year (YoY), primarily due to the divestiture of assets in Wisconsin, Southern Illinois, Arkansas, and Kansas. However, excluding these divestitures, revenue increased significantly, driven by continued commercial wins (including the Indianapolis residential contract), pricing initiatives, and the cumulative rollover impact of recent strategic actions. Additionally, lower commodity prices contributed to a decline in post-collection and temporary revenue. Although S&P's expect 2026 revenue to decline by low single digits due to divestitures and market headwinds, 2027 growth will be fueled by the Indianapolis municipal contract and organic volume expansion. Future margin expansion will be supported by improved pricing execution and operational improvements, such as route optimization, fleet modernization, back-office scaling, and landfill gas monetization (which could take 18 months to establish). S&P said, "We expect LRS to maintain adequate liquidity, in spite of negative free cash flow in the near term. Having completed the majority of its Indianapolis market investments in 2025, the company's capital expenditures (capex) will remain elevated due to a significant focus on fleet renewal. This includes an increased allocation to secure vehicles ahead of the 2027 emission regulation changes. We expect capex to normalize in future periods, with the majority of spending shifting toward maintenance activities. Consequently, while we anticipate negative free operating cash flow (FOCF) in 2026, we expect this to be modestly positive in 2027 as revenue growth scales. At all times we expect the company will maintain adequate liquidity with sources of funds equal to or greater than 1.2x uses. "The stable outlook on LRS reflects our expectation that credit measures will continue to improve this year, with adjusted debt to EBITDA easing towards 6.5x, and that liquidity will remain adequate for the ratings, with sufficient availability under the credit facility and an EBITDA-to-interest coverage ratio healthy enough to outpace the adjusted interest expense. We see LRS incurring approximately $51 million of adjusted interest expense this year following some revolver paydown via divestiture proceeds. "We anticipate LRS will improve volumes from its collection and disposal services and be more effective regarding operational execution to make progress in reducing leverage. With an adjusted debt to EBITDA ratio of 7.4x as of Dec. 31, 2025, we expect it to end the year at or potentially below 6.5x. "We could lower our ratings on LRS if we expect S&P Global Ratings-adjusted EBITDA-to-interest coverage to drop to below 1.5x or debt to EBITDA to rise to above 6.5x on a sustained basis with no clear prospects for recovery." This could occur because of: -- Materially deteriorated operating performance, possibly because of the onset of a deep and prolonged recession that constrains traditionally recession-resistant waste services more than expected; -- Increasingly competitive market conditions; -- Failure to renew service contracts at satisfactory terms; -- Volatile input costs; -- Large debt-financed capex or acquisitions; or -- Debt-funded shareholder returns. If earnings and cash flow weaken again, liquidity could become pressured and a more specific default scenario could become more likely. S&P could consider another positive rating action if credit measures improve more meaningfully than contemplated in its base-case scenario in 2027. Specifically, S&P would consider raising its ratings on LRS if it: -- Reduces S&P Global Ratings-adjusted debt to EBITDA toward 5.0x; -- Demonstrates greater amounts of positive FOCF more consistently; and -- Maintains financial policies that support stronger credit measures. LSF12 BADGER: Moody's Upgrades CFR to B2, Outlook Stable -------------------------------------------------------- Moody's Ratings upgraded its ratings for LSF12 Badger Bidco, LLC (CentroMotion), including the corporate family rating to B2 from B3 and the probability of default rating to B2-PD from B3-PD. Moody's also upgraded CentroMotion's senior secured bank credit facilities to B2 from B3. The outlook remains stable. The ratings upgrades reflect substantially improved credit metrics due to improvement in some of the company's end markets and the successful implementation of a variety of efficiency initiatives. Debt/EBITDA has declined to approximately 4.5x due to strong earnings growth. Free cash flow/debt has improved to a mid-single digit level due to better earnings and more efficient management of working capital. Moody's expects leverage to approach 4.0x at the end of 2026, absent any material acquisitions. Although some of CentroMotion's end markets, such as construction, commercial vehicles and mining have shown improvement, the company remains exposed to a volatile agricultural sector. The agricultural industry continues to grapple with low commodity prices, elevated input costs, and a fluctuating tariff situation. The stable outlook reflects Moody's expectations that the company's focus on making its operations more efficient will modestly expand its profit margins and improve its credit metrics. RATINGS RATIONALE The B2 CFR reflects CentroMotion's small scale, moderately high leverage, and cyclical end markets. The rating is constrained by the company's exposure to the cyclical agriculture, construction, commercial vehicle, and mining sectors. Health of the end markets depends upon an assortment of unpredictable factors including commodity prices, interest rates, and the general health of the global economy, particularly in the US and Europe. The mission-critical nature of the company's products and their high quality and performance burnishes its importance to its customers. Switching costs are high given the qualification and certification requirements of OEMs. CentroMotion also benefits from a good competitive position and long-term relationships with blue-chip customers. Moody's expects CentroMotion to maintain very good liquidity. CentroMotion's cash balance on March 31, 2026 was $77 million. Moody's anticipates consistently positive annual free cash flow through 2027. There is a $100 million committed revolving credit facility that expires in September 2028. Moody's expects this facility to remain undrawn. The company's $475 million term loan B matures in August 2030 and has modest annual amortization of $4.75 million. Alternate sources of liquidity are modest because of the all assets pledge securing the company's debt. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS Ratings could be upgraded if the company materially increases its scale based on revenues while maintaining debt/EBITDA near 4.0x and EBITDA/interest above 2.5x. Stabilization in the end markets that is durable could also be supportive of an upgrade with increasing scale. Ratings could be downgraded if debt/EBITDA is sustained above 5.5x or EBITDA/interest is sustained below 2.0x. The inability to sustain positive free cash flow generation could also lead to a ratings downgrade. The principal methodology used in these ratings was Manufacturing published in September 2025. The net effect of any adjustments applied to rating factor scores or scorecard outputs under the primary methodology(ies), if any, was not material to the ratings addressed in this announcement. Headquartered in Waukesha, Wisconsin, CentroMotion designs and manufactures highly engineered motion, actuation and control solutions for a variety of end markets including agriculture, construction, commercial vehicles, and mining. The entity is owned by Lone Star Funds. Revenue for the twelve months ended March 31, 2026 was $804 million. LURIN REAL: Hires Cushman & Wakefield of as Real Estate Broker -------------------------------------------------------------- Lurin Real Estate Holdings XXI, LLC and its affiliates seek approval from the U.S. Bankruptcy Court for the Southern District of Texas to employ Cushman & Wakefield of Georgia, LLC as real estate broker. The firm will provide these services: a. market the Property together with: i. all buildings, improvements, appurtenances, and fixtures related to the Property; i. all of the Fitzroy Debtor's interests in leases, rents, security deposits related to the Property; ii. all of the Fitzroy Debtor's interests in licenses, permits, and third-party warranties or guaranties (if transferable) related to the Property; iii. all of the Fitzroy Debtor's interests in any trade names (if transferable) related to the Property; and iv. all of the Fitzroy Debtor's tangible personal property located on the Property. The firm will be paid at these rates: a. If, during the Term (as defined in the Engagement Agreement), the Fitzroy Debtor sells any interest in the Property, the Fitzroy Debtor will pay CW a flat fee commission of $200,000. b. Within 10 days after the end of the Term, CW will provide the Fitzroy Debtor with a list of prospective purchasers to whom the Property was submitted by any party during the Term. If a prospective purchaser appearing on the list enters into a purchase and sale agreement within 180 days after the end of the Term, and thereafter the sale is closed, the Debtors will pay a commission CW as provided above. The Fitzroy Debtor agrees that such 180-day period will be extended for so long as negotiations with a prospective purchaser are continuing. c. CW is being retained to market the Property and to solicit higher or better offers through the August 2026 sale process. If, by the conclusion of the August 17, 2026 Sale Hearing, the Fitzroy Debtor has not entered into a binding asset purchase agreement for a Sale, the Fitzroy Debtor shall be required to sell the Property to the Lender or its designee pursuant to a credit bid under section 363(k) of the Bankruptcy Code. d. CW's retention does not prevent, condition, or delay a transfer of the Property to the Lender or its designee if the Fitzroy Debtor has not entered into a binding asset purchase agreement for a Sale by August 17, 2026. In connection with any such credit-bid sale, CW shall reasonably cooperate in an orderly transition. In addition, the firm will seek reimbursement for its out-of-pocket expenses. As disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Craig Hey Cushman & Wakefield U.S., Inc. 225 W. Wacker Drive, Suite 3000 Chicago, IL 60606 Telephone: (312) 470-1800 About Lurin Real Estate Holdings XXI LLC Lurin Real Estate Holdings XXI LLC is a real estate investment and development company focused on commercial and residential property holdings across multiple U.S. markets. Lurin Real Estate Holdings XXI LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-90344) on March 02, 2026. In its petition, the Debtor reports estimated assets and estimated liabilities each in the range of $50 million to $100 million. Honorable Bankruptcy Judge Alfredo R. Perez handles the case. The Debtor is represented by Joshua W. Wolfshohl, Esq. of Porter Hedges LLP. M&L EXPRESS: Taps Law Office of Tap David E. Cahn as Counsel ------------------------------------------------------------ M&L Express, LLC seeks approval from the U.S. Bankruptcy Court for the District of Maryland to hire the Law Office of David Cahn, LLC as counsel. The firm's services include: a. advising the Debtor legal advice with respect to his powers and duties as Debtor-in-Possession; b. advising the Debtor concerning, and assisting in the negotiation and documentation of, financing agreements, debt restructurings, cash collateral arrangements and related transactions, as applicable; c. representing the Debtor in defense of any proceedings instituted to reclaim property or to obtain relief from the automatic stay under section 362(a) of the bankruptcy Code; d. representing the Debtor in any proceedings instituted with respect to use of cash collateral; e. attending any and all meetings pursuant to 11 U.S.C. Sec. 341 and any and all court hearings scheduled; f. reviewing the nature and validity of liens asserted against the property of the Debtor and advising the Debtor concerning the enforceability of such liens, as applicable; g. advising the Debtor concerning the actions that it might take to collect and to recover property for the benefit of the Debtor's estate; h. preparing on behalf of the Debtor all necessary and appropriate applications, motions, pleadings, draft orders, notices, schedules and other documents, and reviewing all financial and other reports to be filed in this Chapter 11 case; i. advising the Debtor concerning, and preparing responses to, applications, motion, pleadings, notices and other papers that may be filed and service in this Chapter 11 case; j. counseling the Debtor in connection with the formulation, negotiation and promulgation of a plan of reorganization or liquidation and related documents; k. performing all other legal services it is qualified to handle for and on behalf of the Debtor that may be necessary or appropriate in the administration of this Chapter 11 case, including advising and assisting the Debtor with respect to debt restructurings, claims analysis and disputes, legal advice with respect to general corporate, bankruptcy, and finance, and matters and litigation other than for discrete matters for which special counsel may be retained; and l. performing all other legal services for the Debtor which may be necessary and to accomplish the goals of this reorganization. The firm will charge these rates: Attorney $400/hr. Paralegal $100/hr. Prior to filing this Chapter 11 case, the firm received a total of $6,000 which was, in part, used to pay the bankruptcy filing fee of $1,738. According to court filings, the Law Office of David Cahn, 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 estate. The firm can be reached through: David E. Cahn, Esq. Law Office of David Cahn, LLC 129 -10W. Patrick Street Frederick, MD 21701 Tel: (301) 799-8072 Fax: (877) 862-5426 Email: cahnd@cahnlawoffice.com About M&L Express, LLC M&L Express, LLC is a transportation and logistics company that provides trucking and freight delivery services. The company operates in the commercial transportation sector, serving customers with cargo movement and logistics solutions. M&L Express, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-15686) on May 29, 2026. In its petition, the Debtor reports estimated assets of $100,001-$1,000,000 and estimated liabilities of $100,001-$1,000,000. Honorable Bankruptcy Judge (not specified in available court records) handles the case. The Debtor is represented by David Erwin Cahn, Esq. of Law Office of David Cahn, LLC. MAPF HOLDINGS: Golub Capital Marks $3MM Loan at 29% Off ------------------------------------------------------- Golub Capital BDC, Inc. has marked its $3,065,000 loan extended to Mapf Holdings, Inc. to market at $2,189,000 or 71% of the outstanding amount, according to Golub Capital BDC's 10-Q for the fiscal year ended March 31, 2026, filed with the U.S. Securities and Exchange Commission. Golub Capital BDC, Inc. is a participant in a one stop loan extended to Mapf Holdings, Inc. The Loan accrues interest at a rate of 19.00% PIK per annum. The Loan matures on December 2026. Golub Capital BDC, Inc. is a business development company that provides financing solutions to middle-market companies. The Fund is led by David B. Golub as Chief Executive Officer (Principal Executive Officer) and Christopher C. Ericson as Chief Financial Officer (Principal Accounting and Financial Officer). The Fund can be reached at: David B. Golub Golub Capital BDC, Inc. 200 Park Avenue, 25th Floor New York, NY 10166 Telephone: (212) 750-6060 About MAPF Holdings, Inc. MAPF Holdings, Inc. is a privately held company financed through a high-yield, one-stop private credit facility. MENORAH CAMPUS: Trustee Hires Zdarsky Sawicki as Counsel -------------------------------------------------------- Mark J. Schlant, the Trustee for Menorah Campus, Inc., seeks approval from the U.S. Bankruptcy Court for the Western District of New York to employ Zdarsky, Sawicki & Agostinelli as counsel. The firm will provide these services: a. give legal advice to the Chapter 11 Trustee with respect to his powers and duties as debtor in possession in the continued management of its business and assets; b. prepare on behalf of the Chapter 11 Trustee all applications, responses orders, reports, and other legal papers necessary in the bankruptcy proceedings; c. represent the Chapter 11 Trustee with respect to applications for the use of cash collateral; d. represent the Chapter 11 Trustee with respect to arrangements for the use or sale of property of the estates, should the opportunity to do so arise; e. represent the Chapter 11 Trustee with respect to the analysis and pursuit of recovery of avoidable transfers pursuant to Chapter 5 of the Bankruptcy Code; f. represent the Chapter 11 Trustee with respect to the preparation and prosecution of approval of a disclosure statement and plan of reorganization; g. represent the Chapter 11 Trustee with respect to the sale of assets of the estate should the same be necessary; and h. perform all other legal services for the Chapter 11 Trustee which may be necessary in the bankruptcy proceeding. The firm will be paid at these rates: Joseph E. Zdarsky $450 per hour K. Michael Sawicki $300 per hour Guy J. Agostinelli $380 per hour Gerald T. Walsh $320 per hour Mark J. Schlant $320 per hour Patrick A. Dudley $300 per hour Thomas P. Fitch $330 per hour David E. Gutowski $300 per hour The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Mr. Schlant 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: Mark J. Schlant, Esq. Zdarsky, Sawicki & Agostinelli LLP 1600 Main Place Tower 350 Main Street Buffalo, NY 14202 Tel: (716) 855-3200 About Menorah Campus, Inc. Menorah Campus Inc., doing business as Weinberg Campus, operates in the healthcare sector. Menorah Campus sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.Y. Case No. 25-10127) on February 6, 2025, listing between $10 million and $50 million in both assets and liabilities. On February 7, 2025, Menorah Campus Adult Home, Inc. (Case No. 25-10133), Menorah Campus Independent Senior Apartments, Inc. (Case No. 25-10135) and Rosa Coplon Jewish Home & Infirmary (Case No. 25-bk-10132) filed Chapter 11 petitions. The cases are jointly administered under Case No. 25-10127. Judge Carl L. Bucki oversees the cases. The Debtors are represented by Kevin R. Lelonek, Esq., at Gross Shuman, PC. Foundation for Jewish Philanthropies, Inc., as secured creditor, is represented by: Raymond L. Fink, Esq. John A. Mueller, Esq. Lippes Mathias LLP 50 Fountain Plaza, Suite 1700 Buffalo, New York 14202 Telephone: (716) 853-5100 Facsimile: (716) 853-5199 E-mail: rfink@lippes.com jmueller@lippes.com MERCER INTERNATIONAL: All Three Proposals Passed at Annual Meeting ------------------------------------------------------------------ Mercer International Inc. held its 2026 Annual Meeting of Shareholders during which shareholders were requested to: (1) elect a board of directors; (2) approve, on a non-binding advisory basis, the Company's executive compensation; and (3) ratify the selection of PricewaterhouseCoopers LLP as the Company's independent registered public accounting firm, all of which were described in more detail in the Company's 2026 Definitive Proxy Statement on Schedule 14A, which was filed with the Securities and Exchange Commission on April 21, 2026. The results of voting on the matters submitted to the Company's shareholders are as follows: Proposal 1: Election of Directors. All of the nine nominees for the Company's board of directors were elected, and the voting results are set forth below: 1. Juan Carlos Bueno * For: 44,714,550 * Against: 268,081 * Abstentions: 59,021 * Broker Non-Votes: 6,674,322 2. William D. McCartney * For: 44,739,177 * Against: 232,435 * Abstentions: 70,040 * Broker Non-Votes: 6,674,322 3. James Shepherd * For: 44,752,469 * Against: 243,557 * Abstentions: 45,626 * Broker Non-Votes: 6,674,322 4. Linda J. Welty * For: 44,763,981 * Against: 234,704 * Abstentions: 42,967 * Broker Non-Votes: 6,674,322 5. Rainer Rettig * For: 44,718,716 * Against: 277,212 * Abstentions: 45,724 * Broker Non-Votes: 6,674,322 6. Alice Laberge * For: 44,761,485 * Against: 234,688 * Abstentions: 45,479 * Broker Non-Votes: 6,674,322 7. Janine North * For: 44,724,623 * Against: 271,562 * Abstentions: 45,467 * Broker Non-Votes: 6,674,322 8. Thomas Kevin Corrick * For: 44,779,753 * Against: 216,328 * Abstentions: 45,571 * Broker Non-Votes: 6,674,322 9. Markwart von Pentz * For: 44,781,076 * Against: 213,460 * Abstentions: 47,116 * Broker Non-Votes: 6,674,322 Proposal 2: Advisory Vote on Executive Compensation. The non-binding resolution approving the Company's executive compensation was approved, and the voting results are set forth below: * For: 42,232,601 * Against: 2,708,877 * Abstentions: 100,174 * Broker Non-Votes: 6,674,322 Proposal 3: Ratification of Selection of Independent Registered Public Accounting Firm. The selection of PricewaterhouseCoopers LLP as the Company's independent registered public accounting firm for fiscal 2026 was ratified, and the voting results are set forth below: * For: 51,015,419 * Against: 175,603 * Abstentions: 524,952 * Broker Non-Votes: 0 About Mercer International Inc. Mercer International Inc. -- http://www.mercerint.com/-- is a global forest products company with operations in Germany, the United States and Canada with consolidated annual production capacity of 2.1 million tonnes of pulp, 1,023 million board feet of lumber, 210,000 cubic meters of cross-laminated timber, 45,000 cubic meters of glulam, 17 million pallets and 230,000 metric tonnes of biofuels. As of March 31, 2026, the Company had $1.96 billion in total assets, $1.97 billion in total liabilities, and $5.54 million in total stockholders' deficit. * * * In March 2026, S&P Global Ratings lowered its issuer credit rating on Mercer International Inc. to 'CCC+' from 'B-'. At the same time, S&P lowered its issue-level rating on the company's unsecured debt to 'CCC+' from 'B-'. S&P's '4' recovery rating on the notes is unchanged. The negative outlook reflects S&P's expectation for Mercer to generate negative FOCF and significant debt maturity over the next couple of years that it believes increases the possibility of another downgrade. In May 2026, Fitch Ratings has downgraded Mercer's Long-Term Issuer Default Rating (IDR) to 'CCC-' from 'B-'. Fitch has also downgraded the issue ratings of the senior unsecured notes to 'CCC' with a Recovery Rating of 'RR3' from 'B-'/'RR4'. The downgrade reflects persistent weakness in pulp and lumber markets, keeping leverage elevated above 6.5x through most of the forecast period. Reduced revolver availability combined with sustained negative FCF generation constrains current liquidity levels. The rating also incorporates the need for the company to refinance its upcoming maturities in a timely manner. Fitch believes there is heightened potential for a near-term transaction that meets Fitch's criteria for a distressed debt exchange (DDE). MILE HIGH: Court OKs Deal on Cash Collateral Access --------------------------------------------------- The U.S. Bankruptcy Court for the District of Colorado approved a stipulation between Mile High Recovery Center, LLC and lender, Kapitus Servicing, Inc., regarding the use of cash collateral. The Debtor initially moved for authority to use cash collateral and the bankruptcy court granted interim approval on April 27 and final approval on May 11 after no objections were received from Kapitus. The Debtor has taken the position that Kapitus does not have an interest in the cash collateral based on its lien priority. However, Kapitus later indicated it has not yet determined whether it holds such an interest. To avoid litigation, the parties agreed to a stipulation giving Kapitus an evaluation period until July 10 to determine and communicate its position regarding any interest in cash collateral. During this evaluation period, the stipulation remains in effect unless Kapitus fails to respond by the deadline, the parties agree Kapitus has no interest, or the court adjudicates the issue. If Kapitus is ultimately found to have an interest in cash collateral, it would receive a replacement lien on post-petition accounts receivable to protect against any diminution in value. The stipulation also requires the Debtor to maintain insurance on its assets, provide ongoing financial reporting and bankruptcy filings to Kapitus, restrict expenditures of cash collateral to an approved budget with limited variance, and pay all post-petition taxes. Events of default include dismissal or conversion of the Debtor's Chapter 11 case to Chapter 7, or breach of the agreement. Upon default, the asserting party must file an affidavit and notify the Debtor, which then has 14 days to cure or contest the default; otherwise, the Debtor's authority to use cash collateral will terminate. A copy of the stipulation is available at https://urlcurt.com/u?l=yXmeSz from PacerMonitor.com. About Mile High Recovery Center LLC Mile High Recovery Center, LLC provides drug and alcohol rehabilitation services and expanded to multiple residential facilities and a treatment center offering inpatient and outpatient care. Mile High Recovery Center filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. D. Colo. Case No. 26-12796) on April 23, 2026, with up to $500,000 in assets and up to $10 million in liabilities. Brice Hancock, president of Mile High Recovery Center, signed the petition. Judge Michael E. Romero oversees the case. Aaron A. Garber, Esq., at Wadsworth Garber Warner Conrardy, P.C., represents the Debtor as legal counsel. Kapitus Servicing, Inc., as lender, is represented by: Scott K. Brown, Esq. Anderson Clarkson Brown PLLC 2158 North Gilbert Road, Suite 114 Mesa, Arizona 85203 Telephone: (480) 247-0557 Email: sbrown@acblawgroup.com MILLER'S CONTRACTING: Hires Demetrius J. Parrish Jr. as Attorney ---------------------------------------------------------------- Miller's Contracting and Property Management, LLC seeks approval from the U.S. Bankruptcy Court for the Eastern District of Pennsylvania to employ Demetrius J. Parrish, Jr. as attorney. The firm's services include: a. providing legal advice with respect to the Debtor's power and duties as debtors in possession in the continued operation of its business; b. preparation of and pursuit of confirmation of a plan of reorganization and approval of the corresponding solicitation procedures and disclosure statement; c. preparing on behalf of the Debtors necessary applications, motions, answers, orders, reports and other legal papers; d. appearing in Court and otherwise protecting the interests of the Debtor before the Court; and; e. performing all legal services for the Debtor which may be necessary and proper in these proceedings. The firm will be paid at $375 per hour. On May 5, 2026, the firm received a retainer in the amount of $1,738 intended to pay the filing fee of $1,738. In addition, the firm will seek reimbursement for its out-of-pocket expenses. Mr. Parrish, Jr. 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: Demetrius J. Parrish, Jr., Esq. 7715 Crittenden Street, Suite 360 Philadelphia, PA 19118 Telephone: (215) 735-3377 Facsimile: (215) 827-5420 Email: DJPESO@gmail.com About Miller's Contracting and Property Management, LLC Miller's Contracting and Property Manage sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Pa. Case No. 26-11972) on May 5, 2026, with up to $50,000 in both assets and liabilities. Judge Derek J. Baker presides over the case. Demetrius J. Parrish, Esq., at The Law Offices Of Demetrius J. Parrish represents the Debtor as bankruptcy counsel. MILLIKIN UNIVERSITY: S&P Rates 2026A-B Revenue Bonds 'BB+' ---------------------------------------------------------- S&P Global Ratings assigned its 'BB+' long-term rating to the City of Decatur, Illinois' $26.925 million tax-exempt series 2026A and $22.375 million taxable series 2026B revenue bonds, issued for Millikin University (Millikin). The outlook is stable. Millikin University faces increased social risks due to demographic trends. The declining college-age population in Illinois has increased enrollment pressure in recent years. S&P views Millikin's environmental and governance risks as neutral factors in our credit rating analysis. S&P said, "The stable outlook reflects our expectation that enrollment will improve further in fall 2026 and that cash and investment ratios will be sufficient. Operating deficits have been quite large, but management is actively implementing strategies to improve this, and we expect progress toward improved operations in fiscal 2027 and beyond. "We could consider a negative rating action or lower the rating within the one-year outlook period if financial resource ratios weaken from current levels and operations fail to improve. Enrollment declines and weakening of demand metrics would be viewed negatively as would additional new money debt without additional growth in resources. "We could consider a positive rating action or raise the rating within the one-year outlook period if operations improve towards break-even without elevated endowment draws and enrollment growth is sustained without weakening of demand metrics. Growth in financial resources would also be viewed favorably." MOTORO CARS: Automatic Stay Applicable to Commercial Lease ---------------------------------------------------------- Judge Robert A. Mark of the U.S. Bankruptcy Court for the Southern District of Florida denied 2865 Investment, LLC's emergency motion to declare automatic stay inapplicable to its commercial lease with Motoro Cars III, LLC. The Debtor is occupying property located at 8354 SW 40th Street, Miami, Florida 33155 pursuant to a lease with the Landlord. On March 23, 2026, the Landlord filed a Complaint of Commercial Eviction pending in the County Court of the Eleventh Judicial Circuit in and for Miami-Dade County, Florida, Case No. 2026-042839-CC-20. On May 25, 2026, in the Eviction Action, the Florida state court entered a Final Judgment for Commercial Eviction, a copy of which is attached as Exhibit C to the Motion. There is nothing in the record to indicate that a writ of possession was served prior to the filing of this chapter 11 case on May 27, 2026. In the motion, the Landlord seeks a declaration that the automatic stay is inapplicable to its commercial lease with the Debtor because it obtained a judgment of eviction on May 25, 2026, two days before the Debtor filed this chapter 11 case on May 27, 2026. The motion also seeks dismissal of this case as a bad faith filing. The Court finds that the lease is unexpired and the automatic stay is applicable. The Court also finds it appropriate to set a preliminary hearing on the request for dismissal and to require the Debtor to file a response to the Landlord’s argument that this chapter 11 case was filed in bad faith. The Court will conduct a preliminary hearing on the request in the motion to dismiss this case on June 25, 2026. A copy of the Court's Order dated June 3, 2026, is available at http://urlcurt.com/u?l=qltrhTfrom PacerMonitor.com. Motoro Cars III, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 26-16855) on May 27, 2026, listing under $1 million in both assets and liabilities. The Debtor is represented by Rafael Recalde, Esq. MOUNTAIN REGIONAL: Court Extends Cash Collateral Access to June 30 ------------------------------------------------------------------ Mountain Regional Equipment Solutions, LLC received another extension from the U.S. Bankruptcy Court for the District of Utah, Central Division, to use cash collateral. Under the agreed order, the Debtor is authorized to use cash collateral through June 30 based on an approved budget, with flexibility to modify aggregate expenses by up to 10% and carry forward any unused budgeted amounts. The Debtor may also make payments required by utilities, taxing authorities, and insurance providers. Convergent Capital Partners IV, L.P., Hillcrest Bank and Rand Capital Corporation are the primary secured creditors asserting liens on the Debtor's cash collateral, with combined secured claims exceeding $14 million. Convergent is alleged to hold the largest secured claim (approximately $9.16 million) while Hillcrest previously asserted a secured claim of approximately $2.42 million before its claim was reportedly transferred to Convergent. Rand Capital asserts an additional secured interest of approximately $3.435 million. The Debtor is unaware of other creditors asserting liens on cash collateral although several other financiers hold liens on equipment and assets but not on cash collateral. As adequate protection for any diminution in the value of their collateral, secured creditors will be granted replacement liens on post-petition assets, with the same validity, extent, and priority as their pre-petition liens. These replacement liens do not apply to avoidance actions under the Bankruptcy Code. Both the debtor and secured creditors preserved their rights to challenge the validity, extent, or priority of claims and liens in future proceedings. Additional safeguards include regular financial reporting to secured creditors, The order is available at http://bankrupt.com/misc/MountainRegional_CCOrder64.pdf The court scheduled a final hearing for June 30 and set a June 24 deadline for filing objections. About Mountain Regional Equipment Solutions Mountain Regional Equipment Solutions, LLC supplies and services automated lubrication systems, safety systems, and maintenance products used in heavy mobile equipment and industrial machinery. It serves customers across construction, mining, transportation, agriculture, and industrial markets, with operations based in Salt Lake City, Utah. Mountain Regional Equipment Solutions sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Utah Case No. 25-27678) on Dec. 19, 2025, listing between $1 million and $10 million in assets and between $10 million and $50 million in liabilities. Todd Miceli, manager, signed the petition. The Debtor tapped Jeffrey L. Trousdale, at Cohne Kinghorn, P.C., as general bankruptcy counsel and Cohne Kinghorn, P.C. as local counsel. MY GEORGIA: Seeks to Hire H&R Block as Enrolled Agent ----------------------------------------------------- My Georgia Plumber, Inc. seeks approval from the U.S. Bankruptcy Court for the Northern District of Georgia to employ H&R Block as enrolled agent. The firm will assist with Debtor's accounting needs, preparation of state and federal tax returns, during this case. The firm will charge fees in the range of $1,000 to $1,400 per year to file tax returns for the years 2023, 2024, and 2025. In addition, the firm will seek reimbursement for its out-of-pocket expenses. Ms. Rebecca Sewell 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: Rebecca Sewell H&R BLOCK 1614 Holland Avenue Houston, TX 77029 Telephone: (713) 212-9215 About My Georgia Plumber My Georgia Plumber, Inc., a company in Canton, Ga., filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. N.D. Ga. Case No. 25-64002) on December 1, 2025. In the petition signed by its chief executive officer, Katrina Rief-Derrico, the Debtor reported $500,000 to $1 million in assets and $1 million to $10 million in liabilities. Judge Sage M. Sigler presides over the case. Cameron M. McCor, Esq., at Jones & Walden, LLC, is the Debtor's legal counsel. NATHAN SPENCER: Unsecureds Will Get 4.18% over 60 Months -------------------------------------------------------- Nathan Spencer Home LLC filed with the U.S. Bankruptcy Court for the Central District of California a Plan of Reorganization for Small Business dated May 28, 2026. The Debtor owns and operates an antique store called The Agoura Antique Mart. Debtor purchased The Agoura Antique Mart from its previous owner, The Agoura Antique Mart, Inc. ("Secured Creditor") in late 2023. The Debtor does not hold an interest in any real estate. The Debtor is party to a warehouse storage lease with Diamond L, LLC, and a shopping center lease agreement with Whizin Market, LLC ("Landlord") for the premises located at the shopping center commonly known as 28912 Roadside Drive, Agoura Hills, CA. The Debtor's secured creditor is Maria Bartolet, as successor in interest to The Agoura Antique Mart, Inc. ("Secured Creditor") for an allowed $92,995.00 claim secured by all assets of the Debtor; UCC filed on January 27, 2023 UCC Financing Statement (no. U230006991026). Debtor purchased its business from the Secured Creditor in late 2023. The Debtor has two priority unsecured creditors: the California Department of Tax and Fee Administration ("CDTFA") with an estimated $131,995.72 claim [POC #9] and Franchise Tax Board ("FTB") with an estimated $1,745.15 claim [POC #10]. The Debtor's general unsecured creditors include credit cards, a line of credit, merchant cash advance loans, and delinquent rent and CAM charges. Debtor’s allowed general unsecured claims total approximately $537,070.39. The final Plan payment is expected to be paid on August 2031 (estimated). This Plan of Reorganization proposes to pay creditors of the Debtor from the revenue generated by the Debtor from continued operation of its business. Non-priority unsecured creditors holding allowed claims will receive distributions, which the proponent of this Plan has valued at approximately 4.18 cents on the dollar. This Plan also provides for the payment of administrative and priority claims. The Debtor's general unsecured creditors, with the exception of Whizin Market LLC, are classified in Class 3(a). The total amount of the allowed general unsecured claims in Class 3(a) is $286,834.49. Based on the liquidation analysis and the income valuation of the Debtor's assets, the holders of allowed general unsecured claims in Class 3(a) will be receiving an estimated 4.18% pro-rata distribution through the plan. The distribution to allowed general unsecured claims will be made monthly, with the first payment of $200.00 due on the Effective Date, followed by 59 consecutive payments, each in the amount of $200.00, to be paid pro-rata to each holder of allowed general unsecured claim. Class 3(b) consists of Non-priority unsecured claim of Whizin Market LLC. Whizin Market LLC holds a pre-petition claim for $250,235.90 for arrears in connection with the Shopping Center Lease Agreement for the premises located at the shopping center commonly known as 28912 Roadside Drive, Agoura Hills, CA. The Debtor shall assume the nonresidential real property lease with Whizin Market LLC (the "Lease") pursuant to Section 365, subject to confirmation of this Plan and entry of a confirmation order. The Debtor acknowledges that amounts may be due and owing under the Lease arising both before and after the Petition Date, including, without limitation, prepetition rent arrears, common area maintenance charges ("CAM"), deferred postpetition base rent, deferred postpetition CAM charges, and any other amounts required to cure defaults and permit assumption of the Lease under applicable law (collectively, the "Lease Cure Obligations"). During the pendency of this Chapter 11 case, the Debtor has continued operating from the leased premises and, due to temporary cash flow constraints associated with the reorganization process, has made reduced base rent payments while deferring payment of certain other Lease-related obligations, with the intent that such obligations be brought current through the Plan. Class 4 consists of Equity security holders of the Debtor. The equity security holders of the Debtor are Spencr L. Howard and Nathan J. Raposo. Mr. Howard is one of the owners and a 50% equity security holder of the Debtor. Mr. Howard does not hold a pre-petition or a post-petition claim against the Debtor. He will retain his 50% equity interest in Debtor. Mr. Raposo is one of the owners and and a 50% equity security holder of the Debtor. Mr. Raposo does not hold a pre-petition or a post-petition claim against the Debtor. He will retain his 50% equity interest in Debtor. The Debtor's proposed 5-year projections itemize the Debtor's income source and the expenses for the next 5 years. The Debtor intends to fund its plan from the continued operation of its business. A full-text copy of the Plan of Reorganization dated May 28, 2026 is available at https://urlcurt.com/u?l=k7I0rO from PacerMonitor.com at no charge. Counsel to the Debtor: Michael Jay Berger, Esq. Law Offices of Michael Jay Berger 9454 Wilshire Boulevard, 6th Floor Beverly Hills, CA 90212 Telephone: (310) 271-6223 Facsimile: (310) 271-9805 E-mail: michael.berger@bankruptcypower.com About Nathan Spencer Home LLC Nathan Spencer Home, LLC, owns the antique retail business, The Agoura Antique Mart, located in Agoura Hills, California. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Cal. Case No. 26-10422) on Feb. 27, 2026. In the petition signed by Spencer L. Howard, managing member, the Debtor disclosed up to $500,000 in assets and up to $1 million in liabilities. Michael J. Berger, at the Law Offices of Michael Jay Berger, is the Debtor's bankruptcy counsel. NATIONAL ASSOCIATION: Trustee Taps Elluma Discovery as Consultant ----------------------------------------------------------------- Jeremy W. Faith, the Chapter 11 Trustee for National Association Of Television Program Executives, Inc., seeks approval from the U.S. Bankruptcy Court for the Central District of California to employ Elluma Discovery, Inc. as forensic recovery and e-discovery consultants. Elluma will provide electronic discovery services, perform computer forensics activities, prepare reports, consult with attorneys, and provide testimony as required. The initial scope of work included: data collection (forensic acquisition of one Mac computer and one external hard drive), data processing (including indexing, extraction of archive files, exclusion of system files, optical character recognition, and email threading), and professional services (including culling/filtering, early case assessment reporting, search construction and execution, troubleshooting, and assistance locating relevant information). Elluma's rate structure varies by role and service type, with hourly rates ranging from $75/hour for administrative staff to $450/hour for forensic consulting and analysis, flat fees for device acquisition and data processing, and tiered hosting rate. The firm seeks approval for ongoing e-discovery services from Elluma at these rates: 1. Relativity data hosting and e-discovery platform administration: $500 per month flat rate. 2. E-discovery assistance in pending adversary proceedings: $275 per hour. The firm require a $4,000 evergreen retainer. As disclosed in the court filings, Elluma does not hold or represent an adverse interest with respect to the matters for which it is to be employed and is disinterested under 11 U.S.C. Sec. 101(14). The firm can be reached through: Eric Robi Elluma Discovery, Inc. 15030 Ventura Blvd, Ste. 353 Sherman Oaks, CA 91403 Phone: (310) 616-0200 About National Association of Television Program Executives, Inc. The National Association of Television Program Executives (NATPE) is a professional association of television and emerging media executives established in 1963. NATPE sought protection for relief under Chapter 11 of the Bankruptcy Code (Bankr. C.D. Cal. Case No. 22-11181) on Oct. 11, 2022, with up to $50,000 in assets and up to $1 million in liabilities. Judge Martin R. Barash oversees the case. Leslie A Cohen, Esq., at Leslie Cohen Law, PC, serves as the Debtor's counsel. NBG ACQUISITION: Golub Capital Marks $346,000 Loan at 18% Off ------------------------------------------------------------- Golub Capital BDC, Inc. has marked its $346,000 loan extended to NBG Acquisition Corp. and NBG-P Acquisition Corp. to market at $284,000 or 82% of the outstanding amount, according to Golub Capital BDC's 10-Q for the fiscal year ended March 31, 2026, filed with the U.S. Securities and Exchange Commission. Golub Capital BDC, Inc. is a participant in a loan extended to NBG Acquisition Corp. and NBG-P Acquisition Corp. The Loan accrues interest at a rate of 6.20 % cash/ 3.50 % PIK per annum. The Loan matures on Nov. 1, 2030. Golub Capital BDC, Inc. is a business development company that provides financing solutions to middle-market companies. The Fund is led by David B. Golub as Chief Executive Officer (Principal Executive Officer) and Christopher C. Ericson as Chief Financial Officer (Principal Accounting and Financial Officer). The Fund can be reached at: David B. Golub Golub Capital BDC, Inc. 200 Park Avenue, 25th Floor New York, NY 10166 Telephone: (212) 750-6060 About NBG Acquisition Corp. and NBG-P Acquisition Corp. NBG Acquisition Corp. and NBG-P Acquisition Corp. appear to be acquisition vehicles engaged in a one-stop financing structure, likely formed to facilitate leveraged buyout or merger-and-acquisition transactions. NEW HOPE: Seeks to Hire Century 21 as Real Estate Broker -------------------------------------------------------- New Hope Housing, Inc. seeks approval from the U.S. Bankruptcy Court for the Eastern District of Virginia to employ Century 21 Commercial New Millenium and Century 21 New Millenium as its real estate agent and brokers. The brokers will market and sell the Debtor's properties known as: a. 5386 Bedford Terrace, Unit B, Alexandria, VA 22309; b. 8619 D Beekman Place, Alexandria, VA 22309; c. 8113 Brosar Court, Alexandria, VA 22309; d. 8309 Pondside Terrace, Alexandria, VA 22309; e. 8216 Claremont Woods Drive, Alexandria, VA 22309; f. 8371 Brockham Drive, Alexandria, VA 22309; and g. 8407 Richmond Highway, Suites D and E, Alexandria, VA 22309. The listing brokerage fee will be 3% of the purchase price of a property. If the buyer is unrepresented, then the Listing Broker shall earn an additional 1% of the purchase price. Additionally, the Debtor shall offer a buyer's broker commission of 2.5% of the purchase price that shall be paid to the buyer's broker if the buyer is represented by a broker. As disclosed in the court filings, the agent and brokers are "disinterested" as defined in section 101(14) of the Bankruptcy Code and as required by section 327(a) of the Bankruptcy Code. The firm can be reached through: Stephen Karbelk Stephanie Young Robert Walters RealMarkets Century 21 Commercial New Millenium 5990 Kingstowne Center Alexandia, VA 22315 Mobile: (571) 481-1037 Office: (703) 556-4222 About New Hope Housing Inc. New Hope Housing, Inc. is a non-profit agency based in Alexandria, Virginia. Founded in 1977, the organization has provided services to homeless families and single adults since 1978. It offers housing programs and support services in Northern Virginia, including group homes, Housing First apartments, homeless prevention and rapid re-housing, education and employment support, and mobile medical outreach. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Va. Case No. 26-11054) on May 1, 2026, with $1 million to $10 million in assets and liabilities. Ann Barrett, executive director, signed the petition. Brittany B. Falabella, Esq. at HIRSCHLER FLEISCHER, P.C. represents the Debtor as legal counsel. NEW HOPE: Seeks to Hire Dudley Auctions Inc. as Auctioneer ---------------------------------------------------------- New Hope Housing, Inc. seeks approval from the U.S. Bankruptcy Court for the Eastern District of Virginia to employ Dudley Auctions Inc. d/b/a Dudley Resources in the professional capacity of auctioneer for the purpose of marketing and selling certain vehicles. The vehicles are: -- 2001 Dodge Grand Caravan; -- 2001 Ford Taurus; -- 2004 Ford Econoline; -- 2006 Ford E-150 Econoline; -- 2008 Ford Expedition; -- 2012 Ford E-350 Econoline; -- 2018 Ford EcoSport; and -- 2019 Ford Transit. Dudley's commission will be calculated as follows: -- a $1,000 bid platform set up fee; -- $75 per hour for lotting, tagging, cataloging, and removal coordination fees, not to exceed twelve (12) hours; -- an 18% buyer’s premium added to the high bid at auction; and -- a 0% seller’s commission unless prior to or within thirty (30) days of the auction, the Debtor sells the property without the assistance of Dudley, in which case, there will be a 10% seller’s commission. As disclosed in the court filings, Dudley is a "disinterested person" as defined in section 101(14) of the Bankruptcy Code and as required by section 327(a) of the Bankruptcy Code. The firm can be reached through: Ann Barrett Dudley Auctions Inc. dba Dudley Resources 8407-E Richmond Hwy Alexandria, VA 22309 Phone: (804) 709-1954 Email: abarrett@newhopehousing.org About New Hope Housing Inc. New Hope Housing, Inc. is a non-profit agency based in Alexandria, Virginia. Founded in 1977, the organization has provided services to homeless families and single adults since 1978. It offers housing programs and support services in Northern Virginia, including group homes, Housing First apartments, homeless prevention and rapid re-housing, education and employment support, and mobile medical outreach. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Va. Case No. 26-11054) on May 1, 2026, with $1 million to $10 million in assets and liabilities. Ann Barrett, executive director, signed the petition. Brittany B. Falabella, Esq. at HIRSCHLER FLEISCHER, P.C. represents the Debtor as legal counsel. NEW JERSEY ECONOMIC: Moody's Ups Rating on 2015A Rev. Bonds to Ba3 ------------------------------------------------------------------ Moody's Ratings has upgraded New Jersey Economic Development Authority's Revenue Bonds (Provident Group - Rowan Properties LLC Rowan University Student Housing Project) Series 2015A to Ba3 from B1. The outlook remains positive. The upgrade reflects the Holly Pointe Commons' (project) strengthened financial profile, with the debt service reserve fund (DSRF) now fully replenished after pandemic-related pressures led to draws to cover bond debt service. RATINGS RATIONALE The upgrade to Ba3 reflects the turnaround in the project's financial performance after pandemic-related setbacks required draws on reserve funds to cover bond debt service. The DSRF has since been fully replenished and stands at $8,423,508 as of February 28, 2026, above the $8,378,750 required level under the governing legal documents. Additionally, Moody's adjusted fiscal 2025 year-end debt service coverage ratio (DSCR) improved further to 1.20x. Occupancy remained robust for the past three years, averaging about 97% in 2025. This performance was supported by Rowan University's rising enrollment to 15,175 full-time equivalent (FTE) students in fall 2025 and by limited competition from other housing options. Counteracting these factors are ongoing risks from mismatched revenue and debt service timing, complex management structure, with shared decision-making between the university and project managers. However, the university supports the project via marketing, a long-term ground lease, and subordination of certain costs. RATING OUTLOOK The outlook remains positive, reflecting ongoing strong demand for the project's 1,413 housing beds, rent escalation and effective cost management. FACTORS THAT COULD LEAD TO AN UPGRADE OF THE RATING -- Given the project's historical financial performance, coverage consistently at or above 1.2x with maintenance of high occupancy and progress on payment of accumulated deferred expenses. FACTORS THAT COULD LEAD TO A DOWNGRADE OF THE RATING -- A decline in occupancy or increase in expenses that disrupts cash flow, reduces DSCR or leads to renewed draws on the DSRF. PROFILE The Obligor and Owner, Provident Group - Rowan Properties LLC, is a single member LLC organized and existing under the laws of New Jersey for the purpose of developing and financing certain facilities for the benefit of the University. The sole member of the Obligor is Provident Resources Group, Inc., a 501(c)(3) Georgia nonprofit corporation with a national presence. METHODOLOGY The principal methodology used in this rating was Global Housing Projects published in August 2024. NIED OWNERSHIP: Taps J. Luzinski of Development Specialists as CRO ------------------------------------------------------------------ Nied Ownership LLC seeks approval from the U.S. Bankruptcy Court for the Middle District of Florida to hire Joseph J. Luzinski as chief restructuring officer and other personnel at Development Specialists, Inc. to provide advisory services. The CRO will render these services: (a) report solely and directly to the Debtor's board and comply with corporate governance requirements; (b) assist the Debtor in the design and implementation of a restructuring strategy to maximize the enterprise value of the Debtor; (c) represent the Debtor's interests in the Chapter 11 Case in negotiations with creditors, secured lenders, and affiliated parties in debt restructuring activities to formulate and implement a Chapter 11 plan of reorganization; (d) perform such other services consistent with the role of CRO and not duplicative of services provided by other professionals in the case. The firm's services include: (a) assisting the Debtor in the preparation of financial disclosures required by the Court, including bankruptcy Schedules, Statements of Financial Affairs, and Monthly Operating Reports; (b) advising the Debtor and its legal and other professional advisors in responding to third party requests; (c) attending meetings and assisting in communications with parties in interest and their professionals, including the Debtor's secured lenders, any official committees, the Office of the United States Trustee, and any other governmental or regulatory agencies asserting jurisdiction over the business and affairs of the Debtor; (d) providing litigation advisory services with respect to accounting and financial matters as needed; and (e) providing other services as may be requested by the CRO or the Debtor consistent with the role of a professional providing financial advisory and consulting services and not duplicative of services provided by other professionals in the Debtor's Chapter 11 Case. The firm will be paid at these rates: Joseph J. Luzinski $795/hr. Mark Parisi $565/hr. Conrad Gryogriew $295/hr. Senior Managing Directors $595 to $865/hr. Directors/Managing Directors $350 to $575/hr. Associates $195 to $345/hr. The firm received a post-petition retainer of $50,000. Joseph J. Luzinski, sr. managing director at Development Specialists, Inc., disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Joseph J. Luzinski Development Specialists, Inc. 500 East Broward Boulevard, Suite 1700 Fort Lauderdale, FL 33394 Phone: (305) 374-2717 Email: jluzinski@DSIConsulting.com About Nied Ownership LLC Nied Ownership LLC is a holding company involved in large-scale ownership and management of investment and business assets. The company oversees operational and financial interests tied to its portfolio holdings and related ventures. Nied Ownership LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-03232) on May 1, 2026. In its petition, the Debtor reports estimated assets between $500 million and $1 billion and estimated liabilities between $100 million and $500 million. Honorable Bankruptcy Judge Tiffany P. Geyer handles the case. The Debtor is represented by Amy Denton Mayer, Esq. of Berger Singerman LLP. NO RUST: Court Affirms Substantive Consolidation Order ------------------------------------------------------ In the appeal styled DONALD SMITH, GLOBAL ENERGY SCIENCES, LLC, RAW ENERGY MATERIALS CORP., RAW MATERIAL CORP., RAW, LLC, Plaintiffs-Appellants, YELLOW TURTLE DESIGN, LLC, Plaintiff, versus SONYA SALKIN SLOTT, GREEN TECH DEVELOPMENT, LLC, Defendants-Appellees, No. 24-13383 (11th Cir.), Chief Judge William Pryor, Judge Andrew Brasher and Judge Nancy Abudu, of the U.S. Court of Appeals for the Eleventh Circuit affirmed the substantive consolidation order of the U.S. Bankruptcy Court for the Southern District of Florida. Donald Smith owns and operates No Rust Rebar. Smith also owns and controls four other entities: Raw Materials, Raw Energy Materials, Global Energy Sciences, and Raw. He is the "sole officer and Director" of Raw Materials and Raw Energy Materials and the "sole and managing member" of Global Energy Sciences and Raw. Smith described No Rust and the non-debtor entities as "a family" that works together to produce and sell products made from basalt fiber. Each entity has the same principal place of business except Global Energy Sciences, which lists the address for Smith's home. After finding that those entities operate from the same location, commingle assets, and fail to maintain corporate formalities, the bankruptcy court granted the trustee's motion to substantively consolidate them. The non-debtor entities appealed to the district court, where they made only procedural arguments. The district court affirmed the substantive consolidation order. The panel finds the bankruptcy court did not err in concluding that substantive consolidation of the debtor's alter egos was proper. The non-debtor entities do not argue that the bankruptcy court erred in that analysis. Instead, they insist that substantive consolidation requires an adversary proceeding. But even if it does, granting substantive consolidation by motion was harmless error. According to the panel, "The non-debtor entities have failed to prove how granting substantive consolidation by motion affected their substantial rights. Each entity received adequate notice and an opportunity to be heard before the motion was granted. The non-debtor entities also argue that they were entitled to a new evidentiary hearing. But they fail to explain what another evidentiary hearing would have done for them." A copy of the Court's Opinion dated June 1, 2026, is available at http://urlcurt.com/u?l=qSBXeA About No Rust Rebar No Rust Rebar is a Pompano Beach, Fla.-based company that manufactures and sells composite reinforcement for concrete. No Rust Rebar filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Fla. Case No, 21-12188) on March 5, 2021. Don Smoth, president, signed the petition. At the time of the filing, the Debtor disclosed $1,763,496 in assets and $4,378,630 in liabilities. Judge Peter D. Russin oversees the case. Kevin Christopher Gleason, Esq., at Florida Bankruptcy Group, LLC, serves as the Debtor's legal counsel. The case was converted to Chapter 7 in May 2022. Sonya Salkin Slott is the Chapter 7 trustee. NORTH HAVEN: Golub Capital BDC Marks $4.2MM Loan at 20% Off ----------------------------------------------------------- Golub Capital BDC, Inc. has marked its $4,213,000 loan extended to North Haven Falcon Buyer, LLC to market at $3,370,000 or 80% of the outstanding amount, according to Golub Capital BDC's 10-Q for the fiscal year ended March 31, 2026, filed with the U.S. Securities and Exchange Commission on May 4, 2026. Golub Capital BDC, Inc. is a participant in a one stop loan extended to North Haven Falcon Buyer, LLC. The Loan accrues interest at a rate of SF + 7.50% (j) 6.14% cash/ 5.00% PIK per annum. The Loan matures on November 2029. Golub Capital BDC, Inc. is a business development company that provides financing solutions to middle-market companies. The Fund is led by David B. Golub as Chief Executive Officer (Principal Executive Officer) and Christopher C. Ericson as Chief Financial Officer (Principal Accounting and Financial Officer). The Fund can be reached at: David B. Golub Golub Capital BDC, Inc. 200 Park Avenue, 25th Floor New York, NY 10166 Telephone: (212) 750-6060 About North Haven Falcon Buyer, LLC North Haven Falcon Buyer, LLC is a leveraged acquisition vehicle financed with a one-stop private credit facility, suggesting it was formed to acquire and hold an operating business using a mix of cash-pay and payment-in-kind debt. NORTH SHORE: Has Deal on Cash Collateral Access ----------------------------------------------- North Shore Poke Co., Inc. and the U.S. Bank National Association advise the U.S. Bankruptcy Court for the Central District of California that they have reached an agreement regarding the Debtor's use of cash collateral and now desire to memorialize the terms of this agreement into an agreed order. U.S. Bank filed a proof of claim asserting it was owed approximately $30,234, claiming it was fully secured and entitled to post-petition interest at a rate of about 9.49%. The Debtor initially scheduled U.S. Bank as a general unsecured creditor but later amended its filings to reflect that the bank was partially secured in the amount of $12,000. The Debtor's proposed plan of reorganization treats U.S. Bank as a secured creditor only to the extent of $12,000, payable in monthly installments of $2,250 beginning 30 days after plan confirmation, with the remaining portion of the bank's claim treated as a general unsecured claim to be paid pro rata at approximately 44.3% over the life of the five-year plan. U.S. Bank objected to confirmation, arguing instead that its secured claim should be valued at $16,612, while the Debtor disputed that valuation and filed a motion to determine the secured status of the claim, which remained unopposed. Under the terms of the agreement, the secured portion of U.S. Bank's claim is fixed at $12,000, resolving the valuation dispute. In exchange, the Debtor agrees to modify its plan to provide U.S. Bank with interest on its claim from the bankruptcy filing date and to obtain the bank's consent to the use of cash collateral retroactive to the petition date. In return, U.S. Bank withdraws its objection to plan confirmation and agrees to the treatment of its claim as set forth in the amended plan. A copy of the motion is available at https://urlcurt.com/u?l=ncHJDK from PacerMonitor.com. About North Shore Poke Co. Inc. North Shore Poke Co. Inc. specializes in fast-casual Hawaiian cuisine, with a focus on poke bowls. North Shore Poke Co. filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. Case No. 25-13413) on December 4, 2025, listing assets of up to $50,000 and liabilities of between $100,001 and $500,000. Mark Sharf, Esq., a practicing attorney in Los Angeles, serves as Subchapter V trustee for the Debtor. Honorable Bankruptcy Judge Mark D. Houle handles the case. The Debtor tapped James A. Dumas, Jr., Esq., at Dumas & Kim, APC as legal counsel and Paul S. Joo, CPA as accountant. OFFICE PROPERTIES: Plan Exclusivity Period Extended to July 14 -------------------------------------------------------------- Judge Christopher Lopez of the U.S. Bankruptcy Court for the Southern District of Texas extended Office Properties Income Trust and its affiliates' exclusive periods to file a plan of reorganization and obtain acceptance thereof to July 14 and Sept. 14, 2026, respectively. As shared by Troubled Company Reporter, the Debtors explain that Courts may consider a variety of factors in determining whether "cause" exists to extend a debtor's exclusive period for filing a plan. The Debtors claim that the application of these factors to the facts and circumstances of the Chapter 11 Cases demonstrates that the requested extension of the Exclusive Periods is both appropriate and necessary. * First Factor. The size and complexity of the issues attendant to the Chapter 11 Cases warrants approval of the requested relief. As of the Petition Date, the Debtors had over $2 billion in funded debt and a complex capital structure that included multiple tranches of debt secured and/or guaranteed by various property silos, creating complicated operational and restructuring considerations. The complexities of the Chapter 11 Cases are also evidenced by the commencement of several adversary proceedings and the extensive litigation that ensued during these cases. * Second, Sixth, & Eighth Factors. Despite the numerous complexities faced by the Debtors during the Chapter 11 Cases, within six months the Debtors have achieved a global resolution with their principal creditor constituencies through five settlements, obtained Court approval of the Debtors' Disclosure Statement, solicited and prosecuted the Plan, and achieved confirmation of the Plan. As noted, through the request to further extend the Exclusive Periods, the Debtors seek only to preserve the status quo post-confirmation while the Debtors and their principal creditor constituencies continue to work diligently to implement the Plan and emerge from chapter 11. * Third, Fourth, & Fifth Factors. The Debtors do not seek the requested further extension of the Exclusive Periods as a means to pressure any party in interest. Indeed, the Debtors have already confirmed their Plan, and the Voting Classes voted overwhelmingly to accept or were deemed to accept the Plan. These achievements demonstrate good-faith progress toward reorganization, progress in negotiations, and successful consensus between the Debtors and their key stakeholders, not an attempt to exercise pressure on creditors to accede to the Debtors' reorganization needs. Counsel for the Debtors: HUNTON ANDREWS KURTH LLP Timothy A. Davidson II, Esq. Ashley L. Harper, Esq. Philip M. Guffy, Esq. 600 Travis Street, Suite 4200 Houston, TX 77002 Telephone: (713) 220-4200 Email: taddavidson@hunton.com ashleyharper@hunton.com pguffy@hunton.com LATHAM & WATKINS LLP Ray C. Schrock, Esq. Andrew M. Parlen, Esq. Anupama Yerramalli, Esq. Ashley Gherlone Pezzi, Esq. Anthony R. Joseph, Esq. 1271 Avenue of the Americas New York, New York 10020 Telephone: (212) 906-1200 Email: ray.schrock@lw.com andrew.parlen@lw.com anu.yerramalli@lw.com ashley.pezzi@lw.com anthony.joseph@lw.com About Office Properties Income (OPI) Trust Office Properties Income (OPI) Trust is a national REIT focused on owning and leasing office properties to high-credit-quality tenants in markets throughout the United States. OPI's property portfolio consists of 124 wholly owned properties located in 29 states and the District of Columbia, containing approximately 17.2 million rentable square feet. As of June 30, 2025, approximately 59% of OPI's revenues were from investment-grade-rated tenants. In 2024, OPI was named an Energy Star(R) Partner of the Year for the seventh consecutive year. OPI is managed by The RMR Group (Nasdaq: RMR), a leading U.S. alternative asset management company with approximately $39 billion in assets under management as of September 30, 2025, and more than 35 years of institutional experience in buying, selling, financing, and operating commercial real estate. OPI is headquartered in Newton, Massachusetts. Office Properties Income Trust and 72 affiliates filed separate petitions for Chapter 11 bankruptcy protection (Bankr. S.D. Texas Lead Case No. 25-90530) on October 30, 2025, before the Hon. Christopher M Lopez. As of Sept. 30, 2025, Office Properties Income Trust has 3,501,385,950 in total assets and$2,501,583,119 in total liabilities. The petitions were signed by John R. Castellano, their chief restructuring officer. Lawyers at Latham & Watkins LLP and Hunton Andrews Kurth LLP serve as the Debtors' counsel. Moelis & Company serves as the Debtors' investment banker and AlixPartners LLP as their restructuring advisors. Kroll Restructuring Administration LLC serves as the Debtors' claims, noticing & solicitation agent. White & Case LLP represents an ad hoc group of noteholders holding 90% senior secured notes due in September 2029 with an aggregate outstanding principal amount of $567,429,000. Milbank LLP and Porter Hedges LLP represent an ad hoc group of secured noteholders holding 3.25% senior secured notes due in 2027. Paul, Weiss, Rifkind, Wharton & Garrison LLP and Munsch Hardt Kopf & Harr, P.C. represent an ad hoc group of secured noteholders holding (a) 90% senior secured notes due in March 2029; (b) 90% senior secured notes due 2029; (c) 3.25% senior secured notes due 2027 and (d) a short position in OPI's common equity interests. Acquiom Agency Services, LLC, is the DIP agent and is represented by White & Case LLP. OLD RICHMOND: Case Summary & Four Unsecured Creditors ----------------------------------------------------- Debtor: Old Richmond @ FM 1464, Ltd. 13126 Creekside Park Drive Houston TX 77082-4904 Business Description: Old Richmond @ FM 1464 is a real estate company that owns and manages a commercial property at 18551 Old Richmond Road in Sugar Land, Texas. Chapter 11 Petition Date: June 1, 2026 Court: United States Bankruptcy Court Southern District of Texas Case No.: 26-33925 Debtor's Counsel: K.B. Battaglini, Esq. FORMAN WATKINS & KRUTZ LLP 4900 Woodway Drive, Suite 940 Houston, Texas 77056 Tel: 713-210-4371 E-mail: kb.battaglini@formanwatkins.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $500,000 to $1 million The petition was signed by Michael Banigan as authorized signatory. A copy of the Debtor's list of its four unsecured creditors is available for free at PacerMonitor at: https://www.pacermonitor.com/view/YBITZAI/Old_Richmond__FM_1464_Ltd__txsbke-26-33925__0001.2.pdf?mcid=tGE4TAMA A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/3YWQBOI/Old_Richmond__FM_1464_Ltd__txsbke-26-33925__0001.0.pdf?mcid=tGE4TAMA OPTIMUM COMMUNICATIONS: Executes Major Restructuring Transactions ----------------------------------------------------------------- Optimum Communications, Inc. announced a series of transactions designed to protect and maximize stakeholder value and position the Company for anticipated discussions with an investor group holding funded debt obligations of its wholly owned indirect subsidiary, CSC Holdings, LLC. The Transactions include: (1) an internal reorganization, approved by a special committee of independent managers of CSC Holdings, designed to insulate the Company's unrestricted assets from the potential adverse impact of CSC Holdings being unable to reach agreement with the holders of its funded debt regarding a comprehensive financial restructuring; (2) an institutional private placement of preferred units in a newly formed unrestricted subsidiary, CSC Investments II LLC ("Unsub Topco"); (3) a private exchange with Next Alt S.a r.l. ("Next Alt") and its affiliate, Next Partner, L.P. ("Next Partner" and, together with Next Alt, the "Next Entities") and members of the board of directors and executive management of Optimum with respect to a portion of their Optimum common stock for Unsub Topco preferred units at $2.50 per share; and (4) a cash tender offer for Optimum's unaffiliated stockholders at $2.50 per share, which may be followed by a registered exchange offer that would offer holders of Optimum Class A common stock the opportunity to exchange a similar portion of such shares into preferred units in Unsub Topco. Private Placement Transaction On May 29, 2026, Unsub Topco, an indirect wholly owned subsidiary of Optimum, sold to certain institutional accredited investors newly issued Series A Preferred Units of Unsub Topco having an initial stated value of $300 million for an aggregate purchase price of $300 million. Unsub Topco is an unrestricted subsidiary of CSC Holdings and a holding company for certain of CSC Holdings' designated unrestricted subsidiaries, including Cablevision Litchfield, LLC, CSC Optimum Holdings, LLC, and certain other subsidiaries of CSC Holdings designated as "unrestricted subsidiaries" for the purposes of the debt agreements of CSC Holdings and CSC Holdings' interest in Cablevision Lightpath LLC. Proceeds from the Private Placement Transaction are intended for general corporate purposes, including to finance the Tender Offer and pay transaction expenses. The Preferred Units are perpetual preferred interests in Unsub Topco. Dividends are payable in cash or by compounding, at Unsub Topco's option. Cumulative dividends accrue on the stated value of the Preferred Units and are payable quarterly at a rate of 13.0% per annum if paid in cash or 15.0% if compounded. The dividend rate may increase by 2.0% per annum upon the occurrence and during the continuance of certain triggering events. The Preferred Units are redeemable by Unsub Topco at any time at a redemption price equal to the greater of: (i) 100% of the then-current stated value and (ii) the amount necessary to result in the Applicable Minimum MOIC. The Preferred Units are subject to mandatory redemption upon the occurrence of: (i) a sale of all or substantially all of Unsub Topco and its subsidiaries, (ii) any insolvency, liquidation, dissolution or winding up of Unsub Topco or its material subsidiaries (but not a change of control or insolvency, liquidation, dissolution or winding up of Optimum or its subsidiaries (other than Unsub Topco and its subsidiaries)) or (iii) a failure by Unsub Topco to comply with the requirements of a sale demand made by holders of a majority of any Preferred Units that remain outstanding following the eighth anniversary of the issue date. The terms of the Preferred Units permit Unsub Topco and its subsidiaries to incur indebtedness, subject to compliance with a consolidated total net debt ratio (excluding the Preferred Units or any senior equity) of 4.50x on a pro forma basis, and to incur senior or pari preferred equity subject to a consolidated total net debt and preferred equity ratio of 4.75x on a pro forma basis (which ratios decrease to 4.00x upon the occurrence of certain events) and certain other exceptions. In addition, upon the occurrence of certain triggering events, restrictions on specified payments or affiliate transactions will also apply. "Applicable Minimum MOIC" means, as of any date of determination, with respect to any Preferred Unit, without duplication, the following: (i) subject to clauses (ii) and (iii) below, prior to the nine-month anniversary of issuance (the "Step-Up Date"), an amount necessary to result in a MOIC equal to the product of 1.25 multiplied by the initial stated value of such Preferred Unit; (ii) from and after the earliest of (A) the Step-Up Date, (B) completion of a Public Exchange Offer (as defined below), (C) the occurrence of specified enforcement actions by creditors of CSC Holdings and (D) certain non-cash offer transactions, an amount necessary to result in a MOIC equal to the product of 1.50 multiplied by the initial stated value of such Preferred Unit; or (iii) from and after the date of the earliest to occur of (x) the filing of a Non-Consensual CSC Restructuring, (y) an acceleration of indebtedness under any CSC Debt Document (as defined in the agreement) or (z) the enforcement of creditor remedies under any CSC Debt Document by the relevant creditors thereunder after the occurrence of an "event of default" thereunder, in each case, an amount necessary to result in a MOIC equal to the product of 2.50 multiplied by the initial stated value of such Preferred Unit. "MOIC" means, with respect to a Preferred Unit, a multiple on invested capital equal to the quotient determined by dividing (a) the sum of (x) the aggregate amount of all dividends paid in cash with respect to such Preferred Unit on or prior to the applicable date of determination, plus (y) 100.0% of the then current stated value of such Preferred Unit, by (b) the initial stated value. "Non-Consensual CSC Restructuring" means: (i) the commencement of a voluntary case under the Title 11 of the United States Code by CSC Holdings or any of its material subsidiaries other than Unsub Topco and its subsidiaries or (ii) the entry of an order for relief against CSC Holdings in an involuntary case under the Code, which order remains unstayed and in effect for 60 consecutive days (in each case, other than in connection with a voluntary "pre-arranged," "pre-negotiated," or "pre-packaged" case (as such terms are customarily used in the restructuring industry) under chapter 11 of the Code). Private Exchange Transaction Also on May 29, 2026, Unsub Topco entered into an exchange transaction with the Next Entities, certain members of Optimum's board of directors and executive management, including each of the "named executive officers" identified in Optimum's proxy statement for its 2026 annual meeting. In the Private Exchange Transaction, Unsub Topco issued additional Preferred Units having an initial stated value of $200 million to Next Partner in exchange for 5,846,652 shares of Optimum Class A common stock, par value $0.01 per share owned by Next Alt, and 74,153,348 shares of Optimum Class B common stock, par value $0.01 per share owned by Next Alt, implying a price of $2.50 per common share, and Preferred Units having an aggregate initial stated value of $12.4 million to such members of Optimum's board of directors and executive management in exchange for 4.9 million Class A shares. Such exchanged common shares are held by Unsub Topco and were not canceled. Next Alt is a personal holding company of Patrick Drahi, who is its controlling shareholder and a member of Optimum's board of directors. As of May 27, 2026, Next Alt beneficially owned approximately 39.6% of Optimum's outstanding Class A shares and approximately 99.9% of Optimum's outstanding Class B shares, representing in the aggregate approximately 94.0% of the voting power of Optimum. After giving effect to the Private Exchange Transaction, Next Alt beneficially owned approximately 27.8% of Optimum's outstanding Class A shares and approximately 99.9% of Optimum's outstanding Class B shares, representing in the aggregate approximately 90.5% of the voting power of Optimum. The Transactions were approved by a committee of independent managers of the board of managers of Unsub Topco. A full text copy of the press release announcing the Transactions is available at https://tinyurl.com/3zf45476 Tender Offer On June 1, 2026, Optimum announced the commencement of a tender offer by Unsub Topco to purchase up to 120,000,000 of Optimum's Class A shares at a price per share of $2.50 (representing an aggregate purchase price of $300 million), to the seller in cash, less any applicable withholding taxes and without interest. The Tender Offer is being made upon the terms and subject to the conditions set forth in the Offer to Purchase, dated June 1, 2026, the related letter of transmittal and other related materials filed today as part of the Schedule TO with the Securities and Exchange Commission. Unsub Topco will fund the purchase of shares in the Tender Offer with proceeds from the Private Placement Transaction. Neither this report nor the exhibit hereto is a recommendation to buy or sell any of Optimum's securities and shall not constitute an offer to purchase or the solicitation of an offer to sell any securities of Optimum. The Tender Offer is being made exclusively pursuant to the Offer to Purchase, the related letter of transmittal and other related materials filed as part of the Schedule TO. The offer materials are being sent to holders of the Class A shares. Holders may also obtain free copies of the offer materials online at the website of the SEC at www.sec.gov as exhibits to the Tender Offer Statement on Schedule TO filed by the Company today with the SEC or from the Company's information agent in connection with the Offer. A full text copy of the press release is available at https://tinyurl.com/2mvncspu Potential Public Exchange The Company also announced that, subject to market and other conditions, Unsub Topco may conduct a registered public exchange offer, pursuant to which it would offer holders of Optimum's Class A shares the opportunity to exchange their shares for initial stated value of newly issued preferred equity interests in Unsub Topco on substantially similar economic terms as those available in the Private Exchange Transaction and the Private Placement Transaction, up to an amount equal to $300 million less the aggregate purchase price for shares purchased in the Tender Offer. In the event that Unsub Topco purchases substantially all of the shares that it has offered to purchase in the Tender Offer, it does not intend to commence the Public Exchange Offer. Further details regarding the potential Public Exchange Offer, including its anticipated timing, are expected to be announced in due course as the Company continues to prepare required financial and other information to include in the related offer documents. Although it is the Company's present intention to commence the Public Exchange Offer subject to the qualifications described above, there can be no assurance that the Public Exchange Offer will ultimately be commenced or consummated, even if the Tender Offer is not fully subscribed. This report is not a recommendation to buy or sell any of Optimum's securities and shall not constitute an offer to purchase or the solicitation of an offer to sell any securities of Optimum. The Public Exchange Offer, if any, will be made only by means of an effective registration statement. Amendment to UnSub Credit Agreement On May 29, 2026, Cablevision Litchfield, LLC and CSC Optimum Holdings, LLC, each an indirect wholly-owned subsidiary of Optimum, entered into an amendment to the Amended and Restated Credit Agreement dated as of January 12, 2026, by and among Cablevision Litchfield and CSC Optimum, each as a borrower, the guarantors party thereto, the lenders party thereto and JPMorgan Chase Bank, N.A., as administrative agent and collateral agent. Other Information Optimum is a holding company that conducts its business largely through subsidiaries that are owned directly or indirectly by its wholly owned subsidiary, CSC Holdings, which is the obligor with respect to approximately $21.8 billion of secured debt, guaranteed notes and senior notes (as of March 31, 2026). Optimum is not a guarantor or otherwise obligated with respect to the debt of CSC Holdings. The Company currently anticipates entering into discussions with the holders of the CSC Holdings debt in order to explore potential restructuring alternatives. In the event of a CSC Holdings debt restructuring where such debt is forgiven or reduced in exchange for the assets of, or equity in, CSC Holdings or its subsidiaries, a separation (sometimes referred to as a "deconsolidation") of CSC Holdings and its subsidiaries from Optimum would occur for U.S. Federal income tax purposes. The Company currently estimates that the resulting tax liability, for which Optimum, CSC Holdings and certain subsidiaries would be jointly and severally liable, would exceed $4 billion. The likelihood that this potential tax liability will be crystallized in a restructuring transaction may be materially reduced if the creditors of CSC Holdings and Optimum can agree to restructure the debt of CSC Holdings on a consensual basis that does not result in a deconsolidation event. Additional Information The Preferred Units were offered and sold in reliance on an exemption from registration provided by Section 4(a)(2) of the Securities Act of 1933, as amended, in transactions not involving a public offering. The foregoing description of the Amendment is available at https://tinyurl.com/uvr726a3 About Optimum Communications Optimum Communications, Inc. (NYSE: OPTU) is one of the largest broadband communications and video services providers in the United States, delivering broadband, video, mobile, proprietary content and advertising services to approximately 4.3 million residential and business customers across 21 states through its Optimum brand. It operates Optimum Media, an advanced advertising and data business, which provides audience-based, multiscreen advertising solutions to local, regional and national businesses and advertising clients. It also operates News 12, which is focused on delivering best-in-class hyperlocal news content. Based on the Company's Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2026, because the Company does not currently have committed financing or cash and cash equivalents combined with projected future cash flows sufficient to satisfy its debt maturities arising within the next 12 months, substantial doubt exists about the Company's ability to continue as a going concern within one year after the date these consolidated financial statements are issued. While management is pursuing efforts to refinance or restructure the Company's debt, or to raise additional capital sufficient to satisfy these debt maturities, there is no assurance these efforts will be successful. As of March 31, 2026, the Company had $27.9 billion in total assets, $33 billion in total liabilities, and $5.2 million in total stockholders' deficiency. OPTIMUM COMMUNICATIONS: S&P Lowers ICR to 'CCC', Outlook Negative ----------------------------------------------------------------- S&P Global Ratings lowered all its ratings on U.S.-based cable provider Optimum Communications Inc. one notch, including its issuer credit rating to 'CCC' from 'CCC+', because it believes a distressed exchange or bankruptcy filing can occur within a year. The negative outlook reflects the possibility that S&P will lower its rating if we believe a default or distressed debt exchange is likely in the next six months. Optimum has about $6.2 billion of debt maturing in 2027, including about $4.1 billion within 12 months in April. Leverage remains high, and S&P believes a restructuring is likely. Furthermore, the recent creation of a new unrestricted group allows the company to add to its debt burden. The downgrade reflects increased refinancing risk for about $6.2 billion of debt maturing in 2027. S&P said, "Given Optimum's capital structure, which we view as unsustainable and challenging near-term business prospects, we believe it will face difficulty in refinancing its obligations as they come due and may pursue a restructuring as an alternative. We would view this as tantamount to a default if its investors receive less than they were originally promised." S&P said, "We expect leverage to remain above 8x through 2027 as annual earnings decline 2%-4%. Like many industry peers, we believe Optimum will find it increasingly challenging to improve its earnings trajectory given incremental competition from fiber and fixed wireless access (FWA). These factors limit free cash flow and its ability to deleverage. "We believe the new unrestricted group will add to Optimum's debt burden. We believe it has the capacity to borrow about $6 billion in new debt secured by the Optimum East Cable assets and its interests in Lightpath (which we estimate account for roughly two-thirds of the company's consolidated earnings) and stay within the group's leverage covenant. Lenders of the restricted group's guaranteed notes and loans will be primed by any new debt issuance at the unrestricted group, impairing recovery prospects. This follows the November 2025 transaction that moved the Optimum East Cable assets into unrestricted subsidiaries not covered by the guarantee from CSC Holdings LLC and the issuance of a $2 billion term loan, which diluted recovery prospects for restricted group lenders. "The negative outlook reflects a potential downgrade if we believe a default or distressed debt restructuring is likely in the next six months. "We could lower our rating on Optimum if we believe a default or distressed exchange appears inevitable in the next six months. "We could raise our rating on Optimum one notch if it extends its maturity profile beyond 2028." PHAIR COMPANY: Hires Mazzarella Law APC as Litigation Counsel ------------------------------------------------------------- The Phair Company LLC and affiliates seek approval from the U.S. Bankruptcy Court for the Southern District of California to employ Mazzarella Law APC as their special litigation counsel. The firm's services include: a. drafting, filing, and responding to all necessary pleadings, motions, and other legal documents in a timely and efficient manner; b. conducting all aspects of discovery, including serving written discovery and conducting depositions, when appropriate; c. appearing on behalf of Debtors in all court hearings, conferences, and trial proceedings in the Renzulli Litigation, Affordable Housing Litigation and the Dorado Arbitration; d. engaging in settlement discussions and alternative dispute resolution processes, such as mediation or arbitration, when appropriate, and preparing, reviewing, and finalizing settlement agreements, when appropriate, subject to this Court's approval; and e. performing any and all other legal services incident and necessary to represent Debtors in the Renzulli Litigation, Affordable Housing Litigation and the Dorado Arbitration. The firm will be paid at these rates: Attorneys $425 to $795 Paralegals $195 to $375 Legal Assistants $95 As disclosed in the court filings, Mazzarella Law APC is a "disinterested person" within the meaning of Bankruptcy Code Sec. 101(14). The firm can be reached through: Mark C. Mazzarella, Esq. Mazzarella Law APC 2550 Fifth Ave Suite 930 San Diego, CA 92103 Tel: (619) 238-4900 Fax: (619) 209-3043 About The Phair Company LLC The Phair Company LLC, a company in Chula Vista, Calif., sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Calif. Case No. 25-00667) on February 25, 2025. In its petition, the Debtor reported between $1 million and $10 million in assets and liabilities. Judge J Barrett Marum oversees the case. Vincent Renda, Esq., at Pinnacle Legal, P.C. and Grobstein Teeple, LLP serve as the Debtor's legal counsel and financial advisor, respectively. PHOENIX FUND: Seeks to Extend Plan Exclusivity to Sept. 21 ---------------------------------------------------------- Driven, P.S.C., the appointed receiver for The Phoenix Fund LLC, asked the U.S. Bankruptcy Court for the District of Puerto Rico to extend Debtor's exclusivity periods to file a plan of reorganization and obtain acceptance thereof to Sept. 21 and Nov. 20, 2026, respectively. The Receiver, which did not come into possession of the Fund's assets, books, and records until after March 11, 2026, explains that it is not dealing with a single-asset estate or a straightforward operating business. Conversely, the Fund's liquidation requires the Receiver to evaluate a complex investment structure, multiple portfolio companies, secured and unsecured claims, substantial intercompany activity, insider transactions, potential avoidance actions, potential alter ego claims, and possible additional bankruptcy filings for entities under the Fund's control. The Receiver claims that the ultimate purpose of the endeavors is for the obtainment of assets and information which the Receiver deems is critical to make an accurate assessment of the value of the Estate's assets, all of which will be devoted to repayment of its claims under a chapter 11 liquidation plan. Under these circumstances, requiring the Receiver to file a plan by June 23, 2026, would force plan formulation before the Receiver completes the analysis necessary to propose a reliable and value-maximizing liquidation strategy. The Receiver asserts that that the requested extension is not the result of delay or inaction. To the contrary, as is evident from the case record, the Receiver has made substantial progress in a compressed period of time. The requested extension preserves, rather than delays, the plan process. It gives the Receiver a reasonable period to turn the work already performed into a disclosure statement and plan grounded in palpable facts, claims, assets, and causes of action that will drive recoveries. The Receiver further asserts that it is seeking an extension solely to obtain a reasonable opportunity to complete the investigation, valuation, claims review, liquidity analysis, and plan formulation work that must occur before the filing of a meaningful disclosure statement and plan, not to pressure any creditor. Rather than causing prejudice to creditors, extending the Receiver's exclusivity period will preserve an orderly path towards a realistic plan, avoid premature or duplicative plan litigation, and allow the Receiver to continue administering the Estate for the benefit of all parties in interest. Conversely, the termination of the Receiver's exclusivity period would not provide any benefit to any party in interest. Instead, such course of action would likely introduce competing strategies before the Receiver has completed essential work that is necessary to fully ascertain the Estate's assets, claims, causes of action and the Fund's affiliate/insider and subsidiary structure, a result that would be inconsistent with the sole purpose of exclusivity. The Phoenix Fund LLC is represented by: Luis C. Marini Biaggi, Esq. Ignacio J. Labarca-Morales, Esq. Marini Pietrantoni Muniz, LLC 250 Ave. Ponce de Leon, Suite 900 San Juan, PR 00918 Telephone: (787) 705-2173 Facsimile: (787) 936-7494 Email: lmarini@mpmlawpr.com About The Phoenix Fund LLC The Phoenix Fund LLC is a Puerto Rico based private equity firm formed in 2018 and headquartered in Guaynabo, Puerto Rico. The company focuses on making strategic equity and debt investments in privately held businesses in Puerto Rico and international markets. Phoenix Fund LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.P.R. Case No. 26-00712) on February 23, 2026. Honorable Bankruptcy Judge Enrique S. Lamoutte Inclan handles the case. In its petition, the Debtor reports estimated assets between $500 million and $1 billion and estimated liabilities between $100 million and $500 million. The Debtor is represented by Alexis Fuentes Hernandez, Esq. of Fuentes Law Offices, LLC. Acrecent Financial, as secured creditor, is represented by Brian K. Tester, Esq. and Paul R. CortÃ©s-Rexach, Esq.at McCONNELL VALDÃ‰S, LLC. Driven, P.S.C., as receiver, is represented by Luis C. Marini-Biaggi, Esq. and Ignacio J. Labarca-Morales, Esq. at MARINI PIETRANTONI MUÃ‘IZ LLC. FCS Advisors, LLC d/b/a Brevet Capital Advisors, as secured lender, is represented by: Margarita Mercado Echegaray, Esq. Sonia Torres, Esq. DLA Piper (Puerto Rico) LLC B7 Tabonuco Street, Suite 1501 Guaynabo, Puerto Rico 00968-3349 Telephone: (787) 945-9122 Email: margarita.mercado@us.dlapiper.com sonia.torres@us.dlapiper.co -and- Jamila Justine Willis, Esq. Malithi P. Fernando, Esq. DLA Piper LLP (US) 1251 Avenue of the Americas New York, New York 10020 Telephone: (212) 335-4500 Facsimile: (212) 335-4501 Email: jamila.willis@us.dlapiper.com malithi.fernando@us.dlapiper.com PHOENIX PRIDE: Dawn Maguire Named Subchapter V Trustee ------------------------------------------------------ The U.S. Trustee for Region 14 appointed Dawn Maguire, Esq., at Guttilla Murphy Anderson, as Subchapter V trustee for Phoenix Pride Incorporated. Ms. Maguire will be paid an hourly fee of $395 for her services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Ms. Maguire declared that she is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Dawn Maguire, Esq. 10115 E. Bell Rd., Ste. 107 #498 Scottsdale, AZ 85260 Phone: (480) 304-8302 Fax: (480) 304-8301 Email: Trustee@MaguireLawAZ.com About Phoenix Pride Phoenix Pride Incorporated is a nonprofit organization that serves Arizona's LGBTQ+ community through advocacy, education, and large-scale cultural events. Founded by community volunteers, the organization traces its roots to Phoenix's first Pride march and has become a =leading force for LGBTQ+ visibility and engagement in the state. Phoenix Pride sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 26-05375) on May 28, 2026, listing assets of up to $50,000 and liabilities of between $100,000 and $500,000. Honorable Bankruptcy Judge Madeleine C. Wanslee handles the case. The Debtor is represented by Joann Falgout, Esq., at Davis Miles, PLLC. PHOENIX PRIDE: Hires Davis Miles PLLC as Bankruptcy Counsel ----------------------------------------------------------- Phoenix Pride, Inc. seeks approval from the U.S. Bankruptcy Court for the District of Arizona to hire Davis Miles, PLLC as bankruptcy counsel. The firm will render these services: a. advise the Debtor as to its rights, duties, and powers as debtor-in-possession; b. prepare and file statements, schedules, plans, operating reports, and any other documents and pleadings necessary to be filed by the Debtor in this case; c. represent the Debtor at all hearings, meetings of creditors, trials, conferences, and other proceedings in this case; and d. perform such other legal services as may be necessary in connection with this case. Davis Miles will be paid at these rates: a. $500 to $560 per hour for partner time; b. $290 to $350 per hour for associate attorney time; c. $195 to $220 per hour for paralegal time; and d. $152 per hour for legal assistant time Davis Miles currently holds the Debtor's funds in the amount of $6,276.09. As disclosed on the court filings, Davis Miles, PLLC is a "disinterested person" within the meaning of 11 U.S.C. 101(14). The firm can be reached through: JoAnn Falgout, Esq. M. Preston Gardner, Esq. Davis Miles, PLLC 999 E. Playa del Norte, Suite 510 Tempe, AZ 85288 Telephone: (480) 733-6800 Facsimile: (480) 733-3748 Email: efile.dockets@davismiles.com About Phoenix Pride Phoenix Pride is a nonprofit organization that serves Arizona's LGBTQ+ community through advocacy, education, and large-scale cultural events. Founded by community volunteers, the organization traces its roots to Phoenixâ€™s first Pride march and has become a leading force for LGBTQ+ visibility and engagement in the state. Phoenix Pride sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 26-05375) on May 28, 2026. In its petition, the Debtor reports estimated assets up to $50,000 and estimated liabilities between $100,000 and $500,000. Honorable Bankruptcy Judge Madeleine C. Wanslee handles the case. The Debtor is represented by Joann Falgout, Esq. of Davis Miles, PLLC. PLASMA BUYER: Golub Capital Marks $8.5MM Loan at 40% Off -------------------------------------------------------- Golub Capital BDC, Inc. has marked its $8,575,000 loan extended to Plasma Buyer LLC to market at $5,145,000 or 60% of the outstanding amount, according to Golub Capital BDC's 10-Q for the fiscal year ended March 31, 2026, filed with the U.S. Securities and Exchange Commission. Golub Capital BDC, Inc. is a participant in a one stop loan extended to Plasma Buyer LLC. The Loan accrues interest at a rate of SF + 5.75 % (j), 9.45 % PIK per annum. The Loan matures on May 2029. Golub Capital BDC, Inc. is a business development company that provides financing solutions to middle-market companies. The Fund is led by David B. Golub as Chief Executive Officer (Principal Executive Officer) and Christopher C. Ericson as Chief Financial Officer (Principal Accounting and Financial Officer). The Fund can be reached at: David B. Golub Golub Capital BDC, Inc. 200 Park Avenue, 25th Floor New York, NY 10166 Telephone: (212) 750-6060 About Plasma Buyer LLC Plasma Buyer LLC is a private borrower utilizing a one-stop credit solution, suggesting a sponsor-backed company financed through a single-tranche leveraged loan structure. PLURI INC: Continues Talks on EIB Loan Maturity ----------------------------------------------- Pluri Inc. announced in a regulatory filing that the European Investment Bank confirmed to the Company that the parties remain engaged in constructive discussions in good faith with the objective of exploring a mutually agreed resolution regarding the EIB Loan. The EIB further advised that such discussions and negotiations are not expected to extend beyond July 3, 2026, and that during that period, and without prejudice to any of the EIB's rights and remedies, no enforcement action is currently contemplated while discussions remain ongoing. The EIB reserved all rights, including the right to take action should the discussions not result in an outcome acceptable to the EIB. No assurance can be given that the parties will reach a mutually acceptable resolution or that the EIB will continue to refrain from exercising remedies available to it under the finance agreement. As previously disclosed, the Company, together with its subsidiaries, Pluri Biotech Ltd., incorporated under the laws of Israel, and Pluristem GmbH, incorporated under the laws of Germany, entered into a finance agreement with the EIB providing for up to EUR50 million in funding, of which only the first tranche of EUR20 million was disbursed in June 2021. Such amount bears interest at 4% per annum. On April 21, 2026, the Company received notice from the EIB that the EIB was reserving all of its rights under the finance agreement while discussions concerning potential alternatives, including a possible extension of the maturity date, remained ongoing. About Pluri Inc. Haifa, Israel-based Pluri Inc. is a biotechnology company, leveraging proprietary cell expansion platform to develop scalable, cell-based solutions across the healthcare, food, and agriculture sectors. Kesselman & Kesselman, the Company's auditor since 2021, issued a "going concern" qualification in its report dated September 17, 2025, attached to the Company's Annual Report on Form 10-K for the year ended June 30, 2025, citing that the Company has incurred recurring losses and negative cash flows from operating activities and has an accumulated deficit as of June 30, 2025 and the loan received from European Investment Bank is due on June 1, 2026. These circumstances raise substantial doubt about its ability to continue as a going concern. As of March 31, 2026, the Company had $26.06 million in total assets, $32.01 million in total current liabilities, $7.05 million in total noncurrent liabilities, and $12.10 million in total deficit. PNW PIZZA: Seek to Hire Neeleman Law Group P.C. as Legal Counsel ---------------------------------------------------------------- PNW Pizza Inc. seeks approval from the U.S. Bankruptcy Court for the Western District of Washington to hire Neeleman Law Group, P.C. as legal counsel. The firm's services include: a. assisting the Debtor in the investigation of the financial affairs of the estate; b. providing legal advice and assistance to the Debtor with respect to matters relating to this case and creditor distribution; c. preparing all pleadings necessary for proceedings arising under this case; and d. performing all necessary legal services for the estate in relation to this case. The firm will charge its standard rate, more specifically $600 per hour for attorney fees for principals, associate's rate of $475 per hour and $250 per hour for paralegal fees, for services rendered and will seek reimbursement for costs and expenses incurred in relation to representation of the estate. The firm received a retainer in the amount of $11,738. Neeleman Law Group, P.C. 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: Jennifer L. Neeleman, Esq. Neeleman Law Group, P.C. 1403 8th Street Marysville, WA 98270 Tel: (425) 212-4800 Email: jennifer@neelemanlaw.com About PNW Pizza Inc PNW Pizza Inc. sought protection for relief under Chapter 11 of the Bankruptcy Code (Bankr. W.D. Wash. Case No. 26-41221) on April 27, 2026, listing up to $50,000 in assets and $500,001 to $1 million in liabilities. Judge Mary Jo Heston presides over the case. Thomas D Neeleman, Esq. at Neeleman Law Group PC serves as the Debtor's counsel. PRECISION MANUFACTURING: Taps CBH Attorneys as Bankruptcy Counsel ----------------------------------------------------------------- Precision Manufacturing Group, Inc. seeks approval from the U.S. Bankruptcy Court for the Western District of Michigan to hire CBH Attorneys & Counselors, PLLC, as attorneys. The firm's services include: a. providing information to Debtor with regard to its duties and responsibilities as required y the United State Bankruptcy Code of debtor-in-possession; b. assisting in the preparation of schedules and statement of affairs; c. drafting pleadings that are necessary or advisable to further the Debtor's goal of successfully obtaining confirmation of Chapter 11 Plan; d. researching legal issues that may arise during the course of Debtor's bankruptcy proceedings; e. pursuing and all claims of Debtors against third parties, including, but not limited to, preferences, fraudulent conveyances, and accounts receivable; f. representing Debtor with regard to any actions brought against it by third parties in the bankruptcy proceeding; g. assisting in the negotiations with secured, unsecured, and priority creditors; h. communicating with the United States Trustee's Office and Subchapter V Trustee; i. drafting a Plan of Reorganization with a likelihood of confirmation; and j. obtaining confirmation of a Plan of Reorganization. The firm will be paid at these rates: Partners or Senior Attorneys $450 per hour Associate Attorneys $300 per hour Paralegals $175 to $195 per hour The firm received from the Debtor a retainer of $20,000. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Steven M. Bylenga, Esq., a partner at CBH Attorneys & Counselors, 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: Steven M. Bylenga, Esq. CBH Attorneys & Counselors, PLC 25 Division Avenue S, Suite 301 Grand Rapids, MI 49007 Tel: (616) 608-3061 Email: steve@cbhattorneys.com About Precision Manufacturing Group Inc. Precision Manufacturing Group, Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Mich. Case No. 26-01463) on May 4, 2026, with $500,001 to $1 million in assets and $1 million to $10 million in liabilities. The petition was signed by Scott Tilma as shareholder and chief executive officer. Judge Hon. James W Boyd oversees the case. The Debtor is represented by Steven Mark Bylenga, Esq. at CBH Attorneys & Counselors. QUANTUM HEALTH: S&P Upgrades ICR to 'B', Outlook Stable ------------------------------------------------------- S&P Global Ratings revised its issuer credit rating to 'B' from 'B-' on Quantum Health Inc. At the same time, S&P also raised its issue-level ratings on the company's first-lien term loan and revolving credit facility (RCF) to 'B' from 'B-'. The stable outlook on Quantum reflects its expectation that stable revenue growth and margin improvement will lead to sustainable FOCF generation. S&P expects its retention rate will remain over 90%. Quantum Health Inc.'s operating performance has improved over past few quarters with the acquisitions of Embold Health in June 2025 and CirrusMD in February 2026. It also expanded its service suite across multiple price points, increased its client base, and bolstered margins through cost containment measures and technology investments. Quantum generated strong free operating cash flow (FOCF) with FOCF to debt above 3% since first quarter of 2024, after years of free cash flow deficits. Increased scale, service mix shift, and operating efficiencies will likely bolster profitability, even as Quantum continues to invest in technology and product development. Quantum utilizes its proprietary AI-powered Real Time Intercept (RTI) system to manage and streamline the prior authorization process, reduce delays, and minimize burdens for both providers and patients. The recent acquisitions of Embold and CirrusMD have successfully expanded the member base and diversified the product suite into four distinct offerings: Quantum Signature, Quantum Flex, Embold Plus, and Embold Edge. S&P said, "We believe synergies from these integrations, coupled with AI-driven efficiencies, will increase S&P Global Ratings-adjusted margins at least 100 basis points (bps) to 22.5% in the fiscal year ending in February 2027 (fiscal 2027) from 21% in fiscal 2026, improving 200 bps further in fiscal 2028.88 "We expect free cash flow improvement, while S&P Global Ratings-adjusted leverage will remain close to 5x. We expect Quantum's total capital expenditure (capex) will remain elevated at $20 million-$25 million annually in fiscal years 2027 and 2028, given investments in technology. However, margin improvement will contribute to strong FOCF generation, driving S&P Global Ratings-adjusted free cash flow to debt of 7.5%-8.5% in fiscals 2027 and 2028. We believe Quantum Health's sponsor ownership will pursue debt-financed acquisitions or shareholder-friendly activities, which may keep S&P Global Ratings-adjusted leverage above 5x. "Our rating reflects Quantum's limited scale and narrow focus. on care coordination services In a market dominated by large health insurance companies, Quantum serves more narrowly as a third-party provider of care navigation and care coordination services to self-insured employer health insurance plans in the U.S. Our rating reflects Quantum's inherent vulnerability when competing with giant health insurers that provide related services and with their affiliates that administer self-insured plans. "Although we expect limited instances of customers moving to competitors, we believe the greatest risk to Quantum's business model is the potential for insurers to exclude third-party service providers, like Quantum, from handling part of their insurance-administration contracts with employers. That said, we believe health insurers have competitive disadvantages, given participant satisfaction and distrust of care coordination efforts managed directly by the insurance company, while Quantum has a competitive moat in the form of technology and AI." Quantum has multiyear contracts with its clients and has a decent retention rate of 90%; however, the loss of a big customer could temporarily impair revenue. Quantum's revenue model is recurring and highly visible, with about 95% derived from per-member, per-month fees Recent client additions from acquisitions will become accretive to revenue in fiscal 2027. S&P said, "The stable outlook on Quantum reflects our expectation that the company's stable revenue growth and margin improvement will lead to sustainable FOCF generation. It also includes our expectation that Quantum will be able to refinance its debt obligations maturing in December 2027. We expect the company's retention rate will remain over 90%. We also believe it will likely pursue debt-financed acquisitions. "We would consider lowering our rating over the next 12 months if Quantum's S&P Global Ratings-adjusted free cash flow to debt declines below 3% for a sustained period. This could occur if increased competitive pressures from insurers or their affiliates weigh on margins or if the company pursues a more aggressive acquisition strategy. "We could raise our rating on Quantum if the company and the sponsors demonstrate a shift in financial policy and remain committed to sustaining S&P Global Ratings-adjusted leverage below 5.0x. However, we believe this is unlikely in the near term, given our belief that the sponsors will favor shareholder-friendly activities over deleveraging." QXO INC: Moody's Affirms 'Ba3' CFR, Outlook Stable -------------------------------------------------- Moody's Ratings affirmed QXO, Inc.'s (QXO) Ba3 corporate family rating and Ba3-PD probability of default rating. Moody's upgraded the senior secured notes rating to Ba2 from Ba3 and senior secured term loan B rating to Ba2 from Ba3 of QXO Building Products, Inc., the operating subsidiary of QXO, Inc. Moody's also assigned a Ba2 rating to the proposed $3 billion senior secured term loan B due 2033, a B2 rating to the proposed $1.5 billion senior unsecured notes due 2031 and B2 rating to the proposed $1.5 senior unsecured notes due 2034. The new debt instruments will be issued by QXO Building Products, Inc. The outlook on both entities remains stable. QXO's speculative grade liquidity (SGL) rating remains unchanged at SGL-1. Proceeds from the new term loan and unsecured notes offering will be used, in conjunction with $1 billion of perpetual preferred stock, cash on balance sheet and QXO common stock, to fund the previously announced acquisition of TopBuild Corp. (Ba1, Rating(s) Under Review) for a total consideration of around $15 billion. As part of the transaction, Moody's also expects QXO will upsize its $2 billion asset-based lending (ABL) revolver, which will remain unrated, due to the scale of the combined business. On a pro forma basis for the TopBuild and Kodiak acquisitions and inclusive of the proposed debt offering, Moody's-adjusted debt to EBITDA is 5.3x as of December 31, 2025. Moody's expects leverage to decline closer to 4.5x by year-end 2027, which assumes debt reduction from free cash flow generation. The upgrade of the existing senior secured notes and senior secured term loan B to Ba2 from Ba3, as well as the assignment of the new senior secured term loan B at Ba2, one notch above the company's Ba3 CFR, is driven by the addition of unsecured debt to the company's capital structure. The proposed senior unsecured notes provide loss absorption in a default scenario. The assigned B2 rating on the proposed senior unsecured notes, two notches below the CFR, results from their subordination the company's secured debt. RATINGS RATIONALE QXO's Ba3 CFR reflects Moody's expectations that the company will maintain a disciplined financial policy centered on deleveraging and sustained positive free cash flow generation. The TopBuild acquisition materially advances QXO's consolidation strategy by increasing scale, broadening revenue sources, and adding a business with strong margins and cash flow. At the same time, the transaction follows the recent closing of the Kodiak acquisition April 1, 2026, increasing integration risk and leverage. Acquisition driven growth remains central to QXO's strategy. Pro forma EBITDA margin is expected to improve to about 11% from Moody's prior 7.5% expectation, supported by TopBuild's leading margin profile and stronger free cash flow generation. Including the TopBuild and Kodiak acquisitions, Moody's expects QXO to generate about $770 million of free cash flow in 2026 and $980 million in 2027. Moody's forecasts assumes gradual margin improvement through 2027 as revenue and cost initiatives are implemented. Execution risk remains high as the company integrates two large acquisitions in a soft market. QXO is targeting about $300 million of synergies by 2030. Moody's expects low-single-digit volume declines in the new residential and repair and remodel end markets in 2026, as higher mortgage rates and elevated home prices continue to pressure affordability and constrain demand. Given this backdrop, QXO's Ba3 rating has limited tolerance for weaker credit metrics resulting from additional large debt-funded acquisitions or unexpected operating underperformance in the near term. The SGL-1 rating reflects Moody's expectations of strong liquidity over the next 18 months, supported by robust free cash flow and substantial availability under the company's asset based revolving credit facility, which matures in April 2030. Liquidity is also supported by strong covenant headroom and no near-term debt maturities, although alternative liquidity sources are limited because most assets are encumbered. The stable outlook incorporates Moody's expectations that QXO will make meaningful progress integrating the Kodiak and TopBuild acquisitions over the next 12-18 months while continuing to execute on the integration of Beacon Roofing, which was acquired in April 2025. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS A ratings upgrade would require improvement in key credit metrics, including Moody's adjusted debt-to-EBITDA sustained below 3.5x and EBITDA-to-Interest Expense sustained above 5.0x. A ratings upgrade would also require preservation of very good liquidity and maintenance of conservative financial policies. A ratings downgrade could result if the company fails to delever as expected and Moody's adjusted debt-to-EBITDA is sustained above 4.5x, EBITDA-to-Interest Expense is sustained below 4.0x, if the company experiences consistent erosion in operating margins and free cash flow generation or if there is a deterioration of liquidity. QXO, Inc., headquartered in Greenwich, Connecticut, is one of the largest wholesale distributors of roofing material and other building products in the US. The principal methodology used in these ratings was Distribution and Supply Chain Services published in November 2025. The net effect of any adjustments applied to rating factor scores or scorecard outputs under the primary methodology(ies), if any, was not material to the ratings addressed in this announcement. RAILHEAD INC: Seeks to Hire Renee M. DuBiel CPA as Accountant ------------------------------------------------------------- Railhead, Inc. seeks approval from the U.S. Bankruptcy Court for the Eastern District of Virginia to hire Renee M. DuBiel, CPA as accountant. The Debtor requires the services of an accountant to assist in analyzing and determining the Debtor's tax liabilities, and assisting in negotiations with the Internal Revenue Service regarding a Partial Payment Installment Agreement. Ms. DuBiel will be compensated per service rendered. Ms. DuBiel assured the court that she is a "disinterested person" as that term is defined in 11 U.S.C. Sec. 101(14). The accountant can be reached through: Renee M. DuBiel, CPA 70 Chestnut Pl Harpers Ferry, WV 25425 Phone: (757) 894-0961 About Railhead Inc. Railhead, Inc. is a Virginia-based government contracting and consulting firm. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Va. Case No. 26-10508-BFK) on March 2, 2026. In the petition signed by Jason Butler, managing member, the Debtor disclosed up to $10 million in both assets and liabilities. Jeffery T. Martin, Esq, at Martin Law Group PC, represents the Debtor as legal counsel. RALIAM HOSPITALITY: Trustee Taps Rubin & Levin as Counsel --------------------------------------------------------- Meredith R. Theisen, Chapter 11 trustee of Raliam Hospitality Group LLC, seeks approval from the U.S. Bankruptcy Court for the Southern District of Indiana to employ Rubin & Levin as her counsel. The firm will render these services: (a) assisting the Trustee with respect to her duties pursuant to section 1106(a) of the Bankruptcy Code; (b) assisting, advising and representing the Trustee regarding the administration of this case; (c) assisting, advising and representing the Trustee in analyzing the assets and liabilities of the Debtor; (d) reviewing and analyzing all applications, motions, orders, statements and schedules filed with the Court by the Debtor or third parties, and after consultation with the Trustee, taking appropriate actions; (e) preparing necessary applications, motions, answers, orders, reports and other legal papers on behalf of the Trustee; (f) assisting the Trustee in the disposition of assets of the bankruptcy estate pursuant to section 363 of the Bankruptcy Code; (g) assisting, advising and representing the Trustee in investigating and prosecute actions under chapter 5 of the Bankruptcy Code; (h) under the direction of the Trustee, if warranted, prepare a chapter 11 plan and assist with all matters related to confirmation and consummation of such plan; (i) representing the Trustee in connection with any litigation, disputes or other matters that may arise in connection with this case or any related proceedings; and (j) assisting, advising and representing the Trustee as to any and all other matters incident to the proper preservation and administration of the assets of the bankruptcy estate. Rubin & Levin will perform legal services based on its ordinary and customary hourly rates. As disclosed in the court filings, Rubin & Levin is a "disinterested person" within the meaning of section 101(14) of the Bankruptcy Code. The firm can be reached through: Morgan A. Decker, Esq. Rubin & Levin, P.C. 135 N. Pennsylvania Street, Suite 1400 Indianapolis, IN 46204 Tel: (317) 634-0300 Fax: (317) 263-9411 About Raliam Hospitality Group LLC Raliam Hospitality Group, LLC operates a Quality Inn hotel in Muncie, Indiana, providing midscale lodging and standard hospitality services, including accommodations and complimentary breakfast, under the franchise system of the Choice Hotels International. The company serves travelers in Muncie, Indiana, supported by university-related and regional demand. Raliam Hospitality Group LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Ind. Case No. 26-01661) on Mar. 23, 2026. In the petition signed by Chirag Patel, president, the Debtor disclosed up to $10 million in both assets and liabilities. Judge Jeffrey J. Graham oversees the case. Preeti Gupta, Esq., serves as the Debtor's counsel. RICHFIELD NURSING: Claims to be Paid from Asset Sale Proceeds ------------------------------------------------------------- Richfield Nursing and Rehabilitation LLC and affiliates filed with the U.S. Bankruptcy Court for the Middle District of Pennsylvania an Amended Disclosure Statement in support of Amended Joint Plan of Liquidation dated May 28, 2026. There are five Debtors, each of which, when the case began, owned and operated skilled nursing facilities. The Debtors were all formed in 2021, for the express purposes of owning and operating the nursing Facilities. The nursing Facilities in question, when acquired by each of the Debtors, were subject to a combined master Lease with OHI. The parties operating the Facilities at the time each Debtor acquired a Facility were having financial difficulties and, accordingly, the Equity Holders in these Cases agreed to acquire the Facilities. The activity in the Cases centered around causing the Debtors' Assets to be sold. The Debtor hired an investment banker, Tower Partners, to market the Debtors' Assets. A stalking horse buyer was obtained and, thereafter, the Court approved the sale of the Debtors' Assets. Ultimately, in late February 2026, closing on the sale of the Debtors' Assets occurred. The Debtors are now working to windup its various affairs, including matters involving the payment of Receivables from managed care companies, and Medicaid receivables and Medicare receivables. The collection of the receivables is important to the funding of the Plan. Class 6 consists of General Unsecured Creditors. The Class 6 general unsecured creditors shall be paid pro rata regardless of which Case the claim arose. Such payment shall occur from the funds remaining from the sale subsequent to payment to Class 1 and Class 2 Professional and Administrative creditors and from the collection of Accounts Receivables. The Debtors are unable to estimate at this time the amount to be paid to general unsecured creditors because of the doubtfulness of the collection of certain Accounts Receivables. The amount to be paid pro rata to Class 6, unsecured creditors could range from $500,000.00 to $1,800,000.00. The winddown expenses could include the payment of accrued paid time off and all owed post-petition vendors, which could lower the amount payable to unsecured creditors. Under the Sale Order, the Debtors received $100,000.00 as the sale consideration. From such amounts, the sum of $10,000.00 has been paid to Tower Partners. Any sale proceeds which remaining shall be utilized to fund the Plan in the order of priority to Class 1, Class 2, Class 3 (if any) and Class 6 allowed claims. A full-text copy of the Amended Disclosure Statement dated May 28, 2026 is available at https://urlcurt.com/u?l=0DOfKH from PacerMonitor.com at no charge. Counsel to the Debtors: Robert E. Chernicoff, Esq. Cunningham, Chernicoff & Warshawsky, PC 2320 North Second Street P.O. Box 60457 Harrisburg, PA 17106-0457 Tel: (717) 238-6570 About Richfield Nursing and Rehabilitation Richfield Nursing and Rehabilitation, LLC, and affiliates are operators of skilled nursing and rehabilitation centers across Pennsylvania. Each location provides a range of services, including short-term rehabilitation, long-term care, and therapy. Richfield Nursing and Rehabilitation and its affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Pa. Lead Case No. 25-01599) on June 4, 2025. In its petition, Richfield Nursing reported between $1 million and $10 million in assets and liabilities. Judge Henry W. Van Eck handles the cases. Cunningham, Chernicoff & Warshawsky, P.C., led by Robert E. Chernicoff, is representing the Debtors. RICHLAND 3914: Richard Maxwell Named Subchapter V Trustee --------------------------------------------------------- Matthew C. Cheney, the Acting U.S. Trustee for Region 4, appointed Richard Maxwell of Woods Rogers Vandeventer Black PLC as Subchapter V trustee for Richland 3914 LLC. Mr. Maxwell 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. Maxwell declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Richard C. Maxwell Woods Rogers Vandeventer Black PLC 10 S. Jefferson Street, Suite 1800 Roanoke, VA 24011 Telephone: 540-983-7628 About Richland 3914 LLC Richland 3914, LLC filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. W.D. Va. Case No. 26-70571) on May 28, 2026, with $500,001 to $1 million in assets and liabilities. Judge Paul M. Black presides over the case. ROSA COPLON: Hires Zdarsky Sawicki & Agostinelli as Counsel ----------------------------------------------------------- Mark J. Schlant, the Trustee for Rosa Coplon Jewish Home & Infirmary seeks approval from the U.S. Bankruptcy Court for the Western District of New York to employ Zdarsky, Sawicki & Agostinelli as counsel. The firm will provide these services: a. give legal advice to the Chapter 11 Trustee with respect to his powers and duties as debtor in possession in the continued management of its business and assets; b. prepare on behalf of the Chapter 11 Trustee all applications, responses orders, reports, and other legal papers necessary in the bankruptcy proceedings; c. represent the Chapter 11 Trustee with respect to applications for the use of cash collateral; d. represent the Chapter 11 Trustee with respect to arrangements for the use or sale of property of the estates, should the opportunity to do so arise; e. represent the Chapter 11 Trustee with respect to the analysis and pursuit of recovery of avoidable transfers pursuant to Chapter 5 of the Bankruptcy Code; f. represent the Chapter 11 Trustee with respect to the preparation and prosecution of approval of a disclosure statement and plan of reorganization; g. represent the Chapter 11 Trustee with respect to the sale of assets of the estate should the same be necessary; and h. perform all other legal services for the Chapter 11 Trustee which may be necessary in the bankruptcy proceeding. The firm will be paid at these rates: Joseph E. Zdarsky $450 per hour K. Michael Sawicki $300 per hour Guy J. Agostinelli $380 per hour Gerald T. Walsh $320 per hour Mark J. Schlant $320 per hour Patrick A. Dudley $300 per hour Thomas P. Fitch $330 per hour David E. Gutowski $300 per hour In addition, the firm will seek reimbursement for its out-of-pocket expenses. Mr. Schlant, 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: Mark J. Schlant, Esq. Zdarsky, Sawicki & Agostinelli, LLP 1600 Main Place Tower, 350 Main St. Buffalo, NY 14202 Phone: (716) 855-3200 Email: mschlant@zsalawfirm.com About Rosa Coplon Jewish Home & Infirmary Rosa Coplon Jewish Home & Infirmary manages and runs a nursing care facility. Rosa Coplon Jewish Home & Infirmary sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D.N.Y. Case No. 25-10132) on February 7, 2025. In its petition, the Debtor reports estimated assets up to $50,000 and estimated liabilities between $1 million and $10 million. Honorable Bankruptcy Judge Carl L. Bucki handles the case. The Debtor is represented by: Kevin R. Lelonek, Esq. GROSS SHUMAN PC 465 Main St Suite 600 Buffalo, NY 14203 Tel: (716) 854-4300 E-mail: klelonek@gross-shuman.com RQM+ CORP: SCP Private Credit Marks $17M Loan at 20% Off -------------------------------------------------------- SCP Private Credit Income BDC LLC has marked its $17,067,000 loan extended to RQM+ Corp. to market at $13,653,000 or 80% of the outstanding amount, according to SCP Private Credit Income's 10-Q for the fiscal year ended March 31, 2026, filed with the U.S. Securities and Exchange Commission. SCP Private Credit Income BDC LLC is a participant in a senior secured loan extended to RQM+ Corp. The loan accrues interest at a rate of S+ 725 PIK, 11.21% per annum. The Loan matures on Aug. 1, 2029. SCP Private Credit Income BDC LLC is a business development company that provides private credit and financing solutions, operating as a corporate issuer in the leveraged finance market. The Fund is led by Michael S. Gross as Co-Chief Executive Officer (Principal Executive Officer) and Bruce J. Spohler as Co-Chief Executive Officer (Principal Executive Officer). The Fund can be reached at: Michael S. Gross SCP Private Credit Income BDC LLC 500 Park Avenue New York, NY 10022 Telephone: (212) 993-1670 About RQM+ CORP. RQM+ Corp. is a life sciences tools and services company that provides specialized support and solutions to organizations in the biotechnology, pharmaceutical and medical device sectors. RQM+ CORP: SLR HC BDC Marks $4.3M Loan at 20% Off ------------------------------------------------- SLR HC BDC LLC has marked its $4,389,000 loan extended to RQM+ Corp. to market at $3,511,000 or 80% of the outstanding amount, according to SLR HC BDC's 10-Q for the fiscal year ended March 31, 2026, filed with the U.S. Securities and Exchange Commission. SLR HC BDC LLC is a participant in a loan extended to RQM+ Corp. The Loan accrues interest at a rate of S+ 725 PIK; Floor 1.00%; Interest Rate 11.21% per annum. The Loan matures on August 2029. SLR HC BDC LLC is a business development company that operates as a corporate issuer in the leveraged finance market. The Fund is led by Michael S. Gross as Co-Chief Executive Officer (Principal Executive Officer) and Bruce J. Spohler as Co-Chief Executive Officer (Principal Executive Officer). The Fund can be reached at: Michael S. Gross SLR HC BDC LLC 500 Park Avenue New York, NY 10022 Telephone: (212) 993-1670 About RQM+ CORP. RQM+ Corp. provides life sciences tools and services, supporting medical device and biotech companies with specialized solutions across the product lifecycle. RW AM HOLDCO: Golub Capital Marks $23.6M Loan at 56% Off -------------------------------------------------------- Golub Capital BDC has marked its $23,613,000 loan extended to RW AM Holdco LLC to market at $10,390,000 or 44% of the outstanding amount, according to Golub Capital BDC's 10-Q for the fiscal year ended March 31, 2026, filed with the U.S. Securities and Exchange Commission. Golub Capital BDC is a participant in a one stop loan extended to RW AM Holdco LLC. The Loan accrues interest at a rate of SF + 5.25% (j) 9.05% per annum. The Loan matures on April 1, 2028. Golub Capital BDC, Inc. is a business development company that provides financing solutions to middle-market companies. The Fund is led by David B. Golub as Chief Executive Officer (Principal Executive Officer) and Christopher C. Ericson as Chief Financial Officer (Principal Accounting and Financial Officer). The Fund can be reached at: David B. Golub Golub Capital BDC, Inc. 200 Park Avenue, 25th Floor New York, NY 10166 Telephone: (212) 750-6060 About RW AM Holdco LLC RW AM Holdco LLC appears to be a privately held corporate borrower utilizing a one-stop private credit facility for its financing needs. S & H SYSTEMS: Seeks to Hire Wooley Auctioneers Inc. as Auctioneer ------------------------------------------------------------------ S & H Systems, Inc. filed an amended application seeking approval from the U.S. Bankruptcy Court for the Eastern District of Arkansas to employ Wooley Auctioneers, Inc. as auctioneer. The firm will market and auction the assets of the Debtor located at 5904 Kreuger Rd., Jonesboro, AR 72401: -- 3 Intralox 57000 Systems; and -- 1 incomplete Intralox 57000 System. Additionally, there is Pallet Rack Wire Decking the Debtor wishes to sell. The firm will be paid a buyer's premium of 15 percent. As disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Brad Wooley Wooley Auctioneers, Inc. 7513 Beck Rd. Little Rock, AR 7223 Tel: (501) 868-4877 Email: brad@wooleyauctioneers.com About S & H Systems, Inc. S & H Systems, Inc. designs, installs, and maintains material handling and automation systems for distribution centers, warehouses, and manufacturing and fulfillment facilities, providing services that include operational analysis, systems design engineering and estimating, and controls and software integration. The Company delivers conveyor systems, goods-to-person solutions, automated storage and retrieval systems, autonomous mobile robotics, robotic and pick/put wall solutions, and warehouse control systems, supporting both new and retrofit operations across the United States. S & H Systems is headquartered in Jonesboro, Arkansas, and employs approximately 180 people. S & H Systems sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Ark. Case No. 26-10365) on February 2, 2026. In the petition signed by Mark Donovan, chief financial officer, the Debtor disclosed $41,717,420 in total assets and $62,495,282 in total liabilities. Judge Phyllis M. Jones oversees the case. The Debtor is represented by Kevin P. Keech, Esq., at Keech Law Firm, PA. SCREEN REPAIR: Hires William G. Haeberle CPA as Accountant ---------------------------------------------------------- Screen Repair by Joe Power LLC seeks approval from the U.S. Bankruptcy Court for the Middle District of Florida to employ William G. Haeberle, CPA as accountant. The firm will timely complete the Monthly Operating Reports. The firm will be paid at these rates: William G. Haeberle, CPA $300 per hour The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Mr. Haeberle, 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: William G. Haeberle, CPA William G Haeberle CPA LLC 4446-1A, Suite 245 Jacksonville, FL 32207 Tel: (904) 245-1304 About Screen Repair by Joe Power LLC Screen Repair by Joe Power LLC, operating under the Screen Enclosures by Joe Power brand and formerly doing business as 9 Flags LLC, provides screen repair and enclosure contracting services in Northeast Florida. The Ponte Vedra, Florida-based company, founded in 2000, designs, builds and repairs patio enclosures, screened lanais, pool enclosures, screen rooms and related outdoor living structures for residential customers in Jacksonville, St. Augustine, Ponte Vedra Beach, Mandarin and surrounding communities. Screen Repair by Joe Power filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. M.D. Fla. Case No. 26-02029) on May 5, 2026, with $100,001 to $500,000 in assets and $1 million to $10 million in liabilities. Jerrett McConnell, Esq., at McConnell Law Group, P.A. serves as Subchapter V trustee for the Debtor. Judge Jacob A. Brown presides over the case. Donald M. DuFresne, Esq., at Parker & Dufresne represents the Debtor as legal counsel. SHERIFA ENTERPRISES: Gets Interim OK to Use Cash Collateral ----------------------------------------------------------- Sherifa Enterprises, LLC received interim approval from the U.S. Bankruptcy Court for the Northern District of West Virginia to use cash collateral. Under the interim order, the Debtor is authorized to use cash collateral to fund its operating expenses; the costs of its Chapter 11 case pending confirmation of a reorganization plan; and the preservation of the going concern value of the bankruptcy estate. The Debtor's cash collateral consists of revenue and receipts generated from operating its Supercuts franchise and related business activities. The Debtor identifies three potential secured creditors based on UCC filings: the U.S. Small Business Administration, which holds a blanket lien on substantially all assets; Stearns Bank National Association, which asserts a broad security interest but whose financing arrangement is disputed; and C T Corporation System, which claims a lien on business assets, though the Debtor believes the underlying obligation has been satisfied and the lien should be released. There may be priority disputes among these creditors based on filing dates, perfection status, and enforceability of certain financing arrangements, according to the Debtor. The SBA will be provided with adequate protection through a monthly payment of $2,800 and a replacement lien on all property acquired by the Debtor after the Chapter 11 filing that is similar to its pre-petition collateral. The order is available at http://bankrupt.com/misc/SherifaEnterprises_ICCOrder.pdf. The final hearing is scheduled for June 24. About Sherifa Enterprises LLC Sherifa Enterprises, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. W.V. Case No. 1:26-bk-00347) on May 18, 2026. In the petition signed by Ismail Latif, member and owner, the Debtor disclosed up to $50,000 in assets and up to $10 million in liabilities. Judge David L. Bissett oversees the case. Aaron C. Amore, Esq., at Aaron C. Amore, represents the Debtor as legal counsel. SMOKIN OAKS: Gets Interim OK to Use Cash Collateral Until July 3 ---------------------------------------------------------------- Smokin Oaks Organic Farms, LLC received interim approval from the U.S. Bankruptcy Court for the Middle District of Tennessee, Nashville Division, to use cash collateral. Under the interim order, the Debtor is authorized to use cash collateral for operating expenses through July 3. The Debtor's cash collateral consists of cash on hand and proceeds from inventory and operations, subject to liens held by secured creditors. Potential secured creditors based on UCC-1 filings include Fox Business Funding, Alpine Advance 5, LLC, and MAD Capital Perennial Fund II, LLC. MAD Capital is the only creditor with a plausible blanket lien, according to the Debtor. As adequate protection, secured creditors will be granted replacement liens on post-petition inventory and its proceeds, with the same validity, priority and extent as their pre-petition liens. In addition, the Debtor is required to maintain a positive balance in its debtor-in-possession deposit account whether through cash flow from operations or otherwise; and to maintain a combined minimum of $30,000 in inventory value and cash on hand. The court scheduled a final hearing for June 30 and set a June 23 deadline for filing objections. The order is available at http://bankrupt.com/misc/SmokinOaks_ICCOrder.pdf About Smokin Oaks Organic Farms LLC Smokin Oaks Organic Farms, LLC operates an organic market, deli, grocery store, and butcher shop in Nashville, Tennessee. Smokin Oaks Organic Farms filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. M.D. Tenn. Case No. 26-02488) on May 26, 2026, with up to $500,000 in assets and up to $10 million in liabilities. Justin Head, managing member, signed the petition. Judge Nancy B. King oversees the case. Henry E. Hildebrand, IV, Esq., at Dunham Hildebrand Payne Waldron, PLLC, represents the Debtor as legal counsel. SPEYSIDE HOLDINGS: Hires Hilco Real Estate as Real Estate Agent --------------------------------------------------------------- Speyside Holdings LLC and its affiliates seek approval from the U.S. Bankruptcy Court for the Easter District of New York to employ Hilco Real Estate LLC as real estate agent. The firm will provide these services: a. meet with the Debtor to ascertain the Debtor's goals, objective and financial parameters in selling the property; b. solicit of interested parties for the sale of the property and market the property for sale through a managed qualifying bid process; and c. conduct negotiations, at the Debtor's direction and on the Debtor's behalf, for the sale of the Property. The firm will be paid at these rates: (i) 2% of the first $10,000,000 of Gross Sale Proceeds; and (ii) 1% of the incremental Gross Sale Proceeds exceeding $10,000,000. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Eric Kaup, an executive vice president at Hilco Real Estate, 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: Eric W. Kaup Hilco Real Estate LLP 5 Revere Dr., Ste. 410 Northbrook, IL 60062 Tel: (847) 504-2462 Fax: (847) 897-0874 About Speyside Holdings LLC Speyside Holdings, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. N.Y. Case No. 8-26-70730) on February 20, 2026. In the petition signed by Eugene Fernandez, managing member, the Debtor disclosed up to $10 million in both assets and liabilities. Judge Sheryl P. Giugliano oversees the case. Gary C. Fischoff, Esq., at BFSNG Law Group, LLP, represents the Debtor as legal counsel. STUDIO CHIQUE: Seeks to Hire Mia Taylor Advisors as Accountant -------------------------------------------------------------- Studio Chique A Full Service Salon, LLC seeks approval from the U.S. Bankruptcy Court for the District of Columbia to hire Mia Taylor Advisors, LLC as accountant. The accountant will assist the Debtor with budgeting, monthly operating reports, financial projections and federal and state tax returns. The fees charged by Mia Taylor Advisors, LLC will be at the standard rate of $350 per hour. As disclosed in the court filings Mia Taylor Advisors, LLC has no interest averse to the estate in this bankruptcy proceeding. The firm can be reached through: Mia M. Taylor Mia Taylor Advisors, LCL 9165 Otis Avenue, Suite 239 Indianapolis, IN 46216 Phone: (317) 800-7111 About Studio Chique A Full Service Salon, LLC Studio Chique A Full Service Salon, LLC, doing business as Studio Chique Luxury Salon & Wellness Spa, operates a beauty and wellness spa in Washington, DC, offering hair care, nail services, skincare, waxing, massage, body contouring and scalp treatments. Founded by Ngina Thomas, the company specializes in alopecia extension installations and corrective hair care, providing head spa services focused on scalp therapy and overall hair health. Studio Chique A Full Service Salon, LLC sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. DC Case No. 26-00154) on March 31, 2026. At the time of the filing, Debtor had estimated assets of between $500,001 to $1 million and liabilities of between $1,000,001 to $10 million. Judge Elizabeth L. Gunn oversees the case. MORRIS MARGULIES, LLC is Debtor's legal counsel. STUDIO CHIQUE: Seeks to Use Cash Collateral ------------------------------------------- Studio Chique, A Full Service Salon, LLC asks the U.S. Bankruptcy Court for the District of Columbia for authority to use cash collateral and provide adequate protection. The Debtor argues that ongoing access to cash generated from services, retail sales, receivables, and merchant-processing transactions is essential to pay payroll, rent, utilities, insurance, taxes, supplies, and other ordinary operating expenses necessary to preserve the business as a going concern. The Debtor contends that many lenders have filed blanket UCC-1 liens against substantially all business assets, including cash, accounts receivable, equipment, and proceeds. However, the salon argues that the existence of a lien does not automatically make a creditor fully secured under 11 U.S.C. Section 506. Instead, secured status should be limited to the actual value of the collateral supporting each claim. The Debtor maintains that most of its personal property has limited value due to age, condition, specialized use, competing liens, and a weak secondary market for used salon equipment. The Debtor estimates that the SBA, which holds the earliest blanket lien, has collateral worth approximately $16,160, including cash, receivables, and unencumbered personal property. Because the SBA's senior lien allegedly exhausts available collateral value, the salon argues that several junior lenders, including Channel Partners Capital, Pipe Technologies, and The Fundworks, are effectively unsecured. Proposed collateral values include approximately $12,000 for Falcon Equipment Finance assets, $20,000 for Navitas Credit equipment, $5,000 for Financial Pacific Leasing assets, $5,000 for Pawnee Leasing equipment, and $6,000 for Geneo United facial equipment. The Debtor proposes replacement liens and repayment terms as adequate protection while continuing to use cash collateral. The Debtor also reserves the right to challenge claims, lien validity, priorities, and equipment ownership issues as the Chapter 11 case progresses. A copy of the motion is available at https://urlcurt.com/u?l=vM7tPB from PacerMonitor.com. About Studio Chique A Full Service Salon LLC Studio Chique A Full Service Salon, LLC, doing business as Studio Chique Luxury Salon & Wellness Spa, operates a beauty and wellness spa in Washington, DC, offering hair care, nail services, skincare, waxing, massage, body contouring and scalp treatments. Founded by Ngina Thomas, the company specializes in alopecia extension installations and corrective hair care, providing head spa services focused on scalp therapy and overall hair health. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.D.C. Case No. 26-00154) on March 31, 2026, with $1,083,740 in assets and $1,083,740 in liabilities. Ngina L. Thomas, owner, signed the petition. Judge Elizabeth L. Gunn presides over the case. Frank Morris II, Esq., at The Law Offices of Frank Morris II represents the Debtor as bankruptcy counsel. SUIRAD GROUP: Hires Jones Lang LaSalle as Real Estate Broker ------------------------------------------------------------ Suirad Group LLC seeks approval from the U.S. Bankruptcy Court for the Northern District of Georgia to employ Jones Lang LaSalle Brokerage, Inc. as real estate broker. The firm will provide these services: a. market the Real Property for sale; and b. assist in closing a sale of the Real Property; and c. provide such other work as may be indicated by the Broker's analysis of the Real Property, the Debtor, and the Estate. The firm will be paid at a commission of 7% of the gross sales price. As disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Paul Hanna Jones Lang LaSalle Brokerage, Inc. 3344 Peachtree Road, Suite 1100 Atlanta, GA 30326 Tel: (770) 698-9339 About Suirad Group Suirad Group, LLC, a company in Atlanta, Ga., sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ga. Case No. 25-50072) on Jan. 3, 2025. In its petition, the Debtor reported $1 million to $10 million in both assets and liabilities. Cameron M. McCord, at Jones & Walden, LLC, is serving as the Debtor's legal counsel. SUPERIOR INDUSTRIES: S&P Withdraws 'CCC-' Issuer Credit Rating -------------------------------------------------------------- S&P Global Ratings withdrew its 'CCC-' rating on Superior Industries International Inc. due to insufficient information. The company's outlook at time of withdrawal was negative. S&P said, "We are unable to analyze the most recent credit standing of Superior and its ability to face its financial obligations. Therefore, S&P determined, in accordance with our methodologies and policies, that there is insufficient information to comply with our information quality and reliability standards, which we require to maintain our ratings on the issuer." SYLVESTER & TARA MCINTOSH: Court Enforces Garnishment Writ ---------------------------------------------------------- Judge Thomas J. Tucker of the U.S. Bankruptcy Court for the Eastern District of Michigan granted Rebecca L. Bailey's motion to enforce the garnishment writ with respect to a consent judgment in the adversary proceeding captioned as REBECCA L. BAILEY, pro se, Plaintiff, v. SYLVESTER McINTOSH, pro se, and TARA NSHOME McINTOSH, pro se, Defendants, Adv. No. 20-4121 (Bankr. E.D. Mich.). At issue in this adversary proceeding is the amount the Defendants still owe to the Plaintiff under a consent judgment. The issue arises due to the Plaintiff's effort to collect the amount she alleges the Defendants still owe to her under the consent judgment, through the issuance of a writ for periodic garnishment. This adversary proceeding is before the Court on the Defendants' objections to garnishment. Also before the Court is the Plaintiff's motion to enforce the garnishment writ, and the Defendants' objections to that motion. On July 8, 2020, at a time when both sides were still represented by counsel, the parties stipulated to the entry of a consent judgment in this adversary proceeding. The Court entered a consent judgment against the Defendants in the amount of $12,500.00. The consent judgment required the Defendants to make monthly payments to the Plaintiff of at least $208.33, not including statutory interest which will be added and applied to the balance of the consent judgment amount according to Mich. Comp. Laws Ann. Secs. 600.6013 and 600.6455. On February 27, 2026, the Plaintiff filed a request and writ for garnishment against Garnishee MGM Grand, seeking to garnish earnings of Defendant Tara McIntosh, in order to collect amounts the Defendants still allegedly owed to the Plaintiff, jointly and severally, under the consent judgment. On March 24, 2026, the Plaintiff filed a motion to enforce the garnishment writ, in which, in relevant part, she alleged that the total amount the Defendants still owe to her under the consent judgment is $2,594.00, and that the Garnishee has failed to respond to the garnishment writ. On March 27, 2026, the Defendants jointly filed an objection to the enforcement motion, in which they again alleged that they have fully paid their debt under the consent judgment. On May 20, 2026, the Court held a hearing on the Objections. The Plaintiff and each of the Defendants appeared at the hearing. During the hearing, the Defendants presented three Payslips from MGM Resorts, which appear to show that the Garnishee MGM Grand has withheld from the earnings of Defendant Tara McIntosh the following amounts on the following dates, each time for "Creditor Garnishment (20-04121 TJT):" * $1,118.52 for the pay period ending on December 14, 2025; and * $1,161.65 for the pay period ending on April 19, 2026; and * $1,161.65 for the pay period ending on May 3, 2026. These garnishment withholdings total $3,441.82. During the hearing, however, the Plaintiff MGM Grand's withholding of $1,118.52 from Defendant Tara McIntosh wages for the pay period ending on December 14, 2025 may have been due to an earlier garnishment writ, issued in this stated that none of these funds have been paid her. During the hearing, the parties agreed, and the Court ruled, that based on the plain meaning of the consent judgment, interest is owed on the consent judgment amount. The parties also agreed that the Court should calculate the amount of interest owed on the consent judgment amount under Mich. Comp. Laws Ann. Secs. 600.6013 and 600.6455, and that the parties would be bound by such determination. Based on the agreement of the parties, expressed on the record during the hearing, the following is now undisputed: * The Defendants made 59 payments of $209.00 each, totaling $12,331.00, leaving $169.00 in principal still owing on the $12,500.00 consent judgment amount. * To calculate the interest owed under the Consent Judgment, the Court should assume that all 59 payments were made on the first of each month, beginning July 1, 2020. Although under the consent judgment, the Plaintiff is entitled to attorney fees and costs to enforce the consent judgment, the Court finds that the Plaintiff's allowed costs for enforcement of the consent judgment are zero. The Plaintiff was not represented by an attorney in her effort to enforce the terms of the consent judgment, so there are no attorney fees. During the hearing, the Court ruled that certain other costs claimed by the Plaintiff are not allowable. The Court will overrule the Defendants' objections to the garnishment writ, and will grant the Plaintiff's motion to enforce the writ. Anticipating that the Plaintiff most likely will not actually be paid from the garnished funds before June 1, 2026, the Court has calculated what the consent judgment balance will be as of June 1, 2026. The Court finds that the Plaintiffs interest calculation of $2,275.00, stated in the garnishment writ, is too high. And Plaintiff's other interest calculations also are too high. The Court finds that the total amount of interest the Defendants owe to the Plaintiff as of June 1, 2026, under Mich. Comp. Laws Ann. Secs. 600.6013(8) and 600.6455, is $1,106.85. Because the Garnishee MGM Grand has already withheld from the earnings of Defendant Tara McIntosh an amount that exceeds the amount Defendants still owe on the consent judgment, the Court will order the Garnishee to immediately pay $1,275.85 directly to the Plaintiff, from funds that it withheld, and then pay the balance of what it withheld back to Defendant Tara McIntosh. A copy of the Court's Opinion and Order dated May 26, 2026, is available at https://urlcurt.com/u?l=A3XDsc from PacerMonitor.com. Sylvester McIntosh and Tara Nshombe McIntosh filed for Chapter 11 bankruptcy protection (Bankr. E.D. Mich. Case No. 20-41097) on January 27, 2020, listing under $1 million in both assets and liabilities. The Debtor is represented by Edward Gudeman, Esq. SYSTEM1 INC: Enters Into Comprehensive Debt Exchange Agreement -------------------------------------------------------------- System1, Inc. announced in a regulatory filing that S1 Holdings Finco, LLC, a Delaware limited liability company and a subsidiary of the Company, and Orchid Merger Sub II, LLC, a Delaware limited liability company, entered into an Exchange Agreement with all of the existing term lenders and revolving lenders under the Company's Credit and Guaranty Agreement dated January 27, 2022. The Exchange Agreement sets forth the principal terms of a comprehensive debt exchange and settlement of all outstanding disputes with the Participating Lenders. The Company expects the Transaction to close in the third quarter of 2026 following its annual meeting of stockholders. Transaction Overview Pursuant to the Exchange Agreement, on the contemplated effective date of the exchange, all of the Existing Loans and all of the existing revolving commitments under the Existing Credit Agreement shall be deemed repaid in full and terminated, in exchange for the receipt by each Participating Lender of their pro rata share of the following consideration: (i) a new $150.0 million term loan facility held by the Participating Lenders, (ii) the issuance of 39,250 shares of Series A Cumulative Convertible Preferred Stock to the Participating Lenders, with an aggregate initial stated value of $39.3 million, and (iii) a one-time cash payment to the Participating Lenders in the aggregate amount of $31,379,300.18, which amount shall be reduced dollar-for-dollar by the sum of the aggregate amount of all amortization payments made by the Existing Borrower under the Existing Credit Agreement during the period from and including April 1, 2026 until the Exchange Effective Date and the difference between the aggregate amount of regularly scheduled interest payments actually made by the Existing Borrower under the Existing Credit Agreement during the Interim Period and the amount of regularly scheduled interest payments the Priority Borrower would have been required to make under the Priority Credit Agreement during the Interim Period. Priority Term Loan Facility Pursuant to the financing agreement related to the Priority Term Loans to be entered into at the Exchange Effective Date, the Priority Term Loans will mature in January 2031 and bear interest at a rate per annum equal to SOFR + 5.00%; provided that up to 50% of the interest accruing may, at the election of the Priority Borrower, be paid by capitalizing such interest and adding such capitalized interest to the then outstanding principal amount of the Priority Term Loans, subject to an increase to the applicable interest rate for such capitalized portion by 0.50%. Amortization will be required to be paid in quarterly installments equal to $375,000, beginning with the first full fiscal quarter following the Exchange Effective Date, and the principal balance of the Priority Term Loans will also be subject to an excess cash flow sweep as contemplated in the Priority Credit Agreement. The Priority Term Loans will be secured by first-priority liens on substantially all assets of the Priority Borrower and the guarantors. The Priority Credit Agreement will contain customary affirmative and negative covenants, events of default and mandatory prepayment provisions for transactions of this type. Series A Cumulative Convertible Preferred Stock Pursuant to the certificate of designation of the Preferred Shares to be filed as of the Exchange Effective Date, the Preferred Shares will accrue cumulative dividends at a rate of 7.00% per annum, compounded quarterly unless paid in cash, and will have a liquidation preference equal to 1.0x the initial stated value thereof plus accrued and unpaid dividends. The Preferred Shares will initially be convertible at the option of the holders into shares of the Company's Class A Common Stock at a conversion price of $10.40 per share, subject to customary anti-dilution adjustments, representing approximately 27.4% of the Company's common equity on an as-converted basis as of the date the Exchange Agreement was entered into. The conversion ratio will initially be approximately 96.178 shares of Common Stock per Preferred Share and will increase as dividends accrue. The Preferred Shares will be redeemable at the election of the holders for cash in an amount equal to the initial stated value thereof plus accrued and unpaid dividends, subject to the availability of legally available funds under Delaware law. The holders of the Preferred Shares will have the right to elect one independent director to the Company's Board of Directors for so long as at least 50% of the originally issued Preferred Shares remain outstanding, and will have customary protective consent rights with respect to certain adverse actions, including adverse charter amendments, restricted payments, issuances of senior or pari passu securities and the incurrence of indebtedness in excess of $175.0 million, for so long as at least 25% of the originally issued Preferred Shares remain outstanding. The Certificate of Designation will also contain customary broad-based weighted average anti-dilution protections, subject to customary exceptions. Settlement of Litigation Pursuant to the Exchange Agreement, the parties thereto agree that on or prior to the Exchange Effective Date a joint stipulation of settlement and dismissal with prejudice will be filed in the litigation among certain of such parties currently pending in the United States District Court for the Southern District of New York, pursuant to which any and all claims and causes of action asserted against any party in such action will be dismissed with prejudice. Closing Conditions The effectiveness of the Transaction contemplated by the Exchange Agreement is subject to the satisfaction of the closing conditions detailed in the Exchange Agreement, including approval by the Company's stockholders of the issuance of the Share Consideration required by Rule 312.03 of the NYSE Listed Company Manual, which the Company intends to seek at its 2026 annual meeting of stockholders. There is no assurance that the Transaction contemplated by the Exchange Agreement will be consummated on the terms described above, on a timely basis or at all. A full text copy of the Exchange Agreement is available at https://tinyurl.com/2rresht7 About System1, Inc. System1 -- http://www.system1.com-- operates several flagship brands across multiple consumer verticals, including shopping, travel and search, and a best-in-class customer acquisition and marketing platform powered by AI and machine learning. The Company's platform is omnichannel and omnivertical, delivering high-intent customers to its advertising partners to maximize their reach and effectiveness. As of December 31, 2025, the Company had $404.97 million in total assets, $387.55 million in total liabilities, and $17.42 million in total stockholders' equity. Los Angeles, California-based Deloitte and Touche LLP, the Company's auditor since 2024, issued a "going concern" qualification in its report dated March 11, 2026, attached to the Company's Annual Report for the fiscal year ended December 31, 2025, citing that the Company is experiencing difficulty in generating sufficient cash flow to meet its obligations and sustain its operations, which raises substantial doubt about the Company's ability to continue as a going concern. TEANECK SURGICAL: Mark Politan Named Subchapter V Trustee --------------------------------------------------------- The U.S. Trustee for Regions 3 and 9 appointed Mark Politan, Esq., at Politan Law, LLC, as Subchapter V trustee for Teaneck Surgical Center L.L.C. Mr. Politan will be paid an hourly fee of $475 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Politan 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 J. Politan, Esq. Politan Law, LLC 88 East Main Street #502 Mendham, NJ 07945 Cell: (973) 768-6072 mpolitan@politanlaw.com About Teaneck Surgical Center L.L.C. Teaneck Surgical Center LLC is a five-member limited liability company formed under the laws of the state of New Jersey and is managed by two physician managers. Teaneck Surgical Center sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. N.J. Case No. 26-16013) on May 28, 2026, with $500,001 to $1 million in assets and $100,001 to $500,000 in liabilities. Morris S. Bauer, Esq., at Duane Morris, LLP represents the Debtor as legal counsel. TEXAS SOLIDS: Seeks to Tap Villa & White LLP as Bankruptcy Counsel ------------------------------------------------------------------ Texas Solids Control Services, LLC seeks approval from the U.S. Bankruptcy Court for the Western District of Texas to employ Villa & White LLP as counsel. The firm will render these services: (a) assist and advise the Debtor relative to its operations as a debtor-in-possession, and relative to the overall administration of this Chapter 11 case; (b) represent the Debtor at hearings to be held before this Court and communicate with its creditors regarding the matters heard and the issues raised, as well as the decisions and considerations of this Court; (c) prepare, review, and analyze pleadings, orders, operating reports, schedules, statements of affairs, and other documents filed and to be filed with this Court by the Debtor or other interested parties in this Chapter 11 case; advise the Debtor as to the necessity, propriety and impact of the foregoing upon this Chapter 11 case; and consent or object to pleadings or orders on behalf of the Debtor; (d) assist the Debtor in preparing such applications, motions, memoranda, adversary proceedings, proposed orders and other pleadings as may be required in support of positions taken by the Debtor, as well as preparing witnesses and reviewing documents relevant thereto; (e) coordinate the receipt and dissemination of in formation prepared by and received from the Debtor and the Debtor's accountants, and other retained professionals, as well as such information as may be received from accountants or other professionals engaged by any official committee; (f) confer with the professionals as may be selected and employed by any official committee; (g) assist and counsel the Debtor in its negotiations with creditors, or Court-appointed representatives or interested third parties concerning the terms, conditions, and import of a plan of reorganization and disclosure statement to be proposed and filed by the Debtor; (h) assist the Debtor with such services as may contribute or are related to the confirmation of a plan of reorganization in this Chapter 11 case; (i) assist and advise the Debtor in its discussions and negotiations with others regarding the terms, conditions, and security for credit, if any, during this Chapter 11 case; (j) conduct such examination of witnesses as may be necessary in order to analyze and determine, among other things, the Debtor's assets and financial condition, whether the Debtor has made any avoidable transfers of its property, and whether causes of action exist on behalf of the Debtor's estate; and (k) assist the Debtor generally in performing such other services as may be desirable or required pursuant to Sec. 1107 of the Bankruptcy Code. Morris White III, Esq., an attorney at Villa & White, will be paid at an hourly rate of $450 plus expenses. Mr. White 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: Morris E. White III, Esq. Villa & White LLP 100 NE Loop 410, #615 San Antonio, TX 78216 Telephone: (210) 225-4500 Facsimile: (210) 212-4649 Email: treywhite@villawhite.com About Texas Solids Control Services, LLC Texas Solids Control Services, LLC in San Antonio, TX, sought relief under Chapter 11 of the Bankruptcy Code (Bankr. W.D. Tex. Case No. 24-51646) on Aug. 28, 2024, listing $66,391 in assets and $2,141,783 in liabilities. Adrian Mendenhall, as owner, signed the petition. Judge Michael M Parker oversees the case. THE LANE LAW FIRM serve as the Debtor's legal counsel. TRASK RADIO: Hires BJC Advisors LLC as Financial Advisor -------------------------------------------------------- Trask Radio LLC and its affiliates seek approval from the U.S. Bankruptcy Court for the Southern District of New York to employ BJC Advisors, LLC as financial advisor. The firm will provide these services: a. assist the Debtors with coordination and management of the restructuring activities of the Debtors, including communication with their secured creditors, their professionals, and other third-party creditors, as necessary; b. assist the Debtors in ascertaining and providing advice on the reasonableness and feasibility of the Debtors' business plans, including financial projections; c. assist the Debtors and counsel in developing proposals and negotiating with creditors; d. assist with the preparation of 13-week cash flow budgets; e. assist with the preparation of long-term projections; f. assist with the preparation of weekly reporting, if necessary; and g. assist the Debtors with any other consulting services, as requested by them. The firm will be paid at these rates: Joseph Baum $750 per hour Howard Konicov $625 per hour Steve Norowitz $495 per hour The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Mr. Baum 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: Joseph Baum BJC Advisors, LLC Lakewood, NJ 08701 About Trask Radio LLC Trask Radio LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Case No. 25-12431) on Oct. 31, 2025. In its petition, the Debtor estimated assets between $1 million and $10 million and estimated liabilities between $10 million and $50 million. The Debtor is represented by Ilana Volkov, Esq., of McGrail & Bensinger LLP. TRINSEO PLC: Enters Into OpCo and Super-Holdco DIP Facilities ------------------------------------------------------------- Trinseo PLC announced in a regulatory filing that the Company and certain of its direct and indirect subsidiaries entered into two debtor-in-possession credit facilities providing for a total of $142.5 million of new money funding. On May 29, 2026, certain of the Debtors also entered into an amendment and restatement of the Company's existing $150 million accounts receivable securitization program. The DIP Facilities and the amended and restated securitization facility were put in place to provide the Debtors with operating liquidity during the Chapter 11 Cases, as described below. The Company and certain of its subsidiaries filed voluntary petitions for relief under Chapter 11 of Title 11 of the United States Code in the United States Bankruptcy Court for the Southern District of Texas to conduct a comprehensive restructuring of the Company's capital structure through a joint prepackaged plan of reorganization pursuant to a Restructuring Support Agreement dated as of May 13, 2026 with majorities of senior lenders. The Plan provides for fully committed debtor-in-possession financing as well as exit financing. OpCo DIP Credit Agreement On May 28, 2026, Trinseo Luxco S.a r.l., as holdings, Trinseo Holding S.a r.l. and Trinseo Materials Finance, Inc., as borrowers, the guarantors party thereto from time to time, the lenders party thereto from time to time, and Deutsche Bank AG New York Branch, as administrative agent and collateral agent, entered into a Senior Secured Super-Priority Debtor-In-Possession Credit Agreement, providing for a senior secured super-priority priming term loan debtor-in-possession credit facility in an aggregate principal amount of $270.0 million. The OpCo DIP Facility consists of: * new money term loan commitments in an aggregate principal amount of $90.0 million, of which $60.0 million was drawn in a single borrowing on the closing date; and * a roll-up facility pursuant to which up to $180.0 million of aggregate principal amount of prepetition super-priority revolving loan obligations (including accrued and unpaid interest thereon), held by the OpCo DIP Lenders will be deemed "rolled up" and converted into term loans under the OpCo DIP Facility consisting of roll-up term loans (2026 bridge) and roll-up term loans (rev), on a cashless basis at a ratio of two dollars of roll-up term loans for every one dollar of new money commitments funded. Approximately $34.0 million of undrawn letters of credit outstanding as of the closing date were deemed issued under the OpCo DIP Credit Agreement at closing. Any drawings under such letters of credit will be deemed to be an additional borrowing of roll-up term loans that increases the outstanding principal amount of roll-up term loans (rev) under the OpCo DIP Facility by a corresponding amount. The new money term loans under the OpCo DIP Facility bear interest at a rate per annum equal to SOFR (subject to a floor of 3.00%) plus 9.00%, payable in cash. The roll-up term loans (2026 bridge) bear interest at a rate per annum equal to SOFR (subject to a floor of 3.00%) plus 9.00%, payable in cash. The roll-up term loans (rev) under the OpCo DIP Facility bear interest at a rate per annum equal to SOFR (subject to a floor of 0.00%) plus 2.25%, payable in cash. The OpCo DIP Facility is subject to a commitment fee, which was paid in kind in full at closing, and a put option premium, which is payable in kind on each date that new money term loans are funded. The OpCo DIP Facility matures on the earliest to occur of: * May 28, 2027, * the effective date of a chapter 11 plan, * the acceleration of the outstanding term loans and termination of commitments, * certain other customary events set forth in the OpCo DIP Credit Agreement, and * the closing of a sale of all or substantially all assets or equity of the loan parties (other than to another loan party). The OpCo DIP Facility is subject to a minimum liquidity covenant requiring liquidity of not less than $100.0 million, tested weekly, and a disbursements variance covenant requiring total actual operating disbursements not to exceed total budgeted operating disbursements (subject to certain exceptions) by more than 17.5% over applicable testing periods. The Chapter 11 Cases are also subject to certain milestones, including deadlines for entry of the final DIP order and confirmation of the Plan. The proceeds of the OpCo DIP Facility may be used to: * roll up amounts outstanding under the prepetition revolving loan obligations, * make adequate protection payments, * pay the fees, expenses, and administrative costs of the Chapter 11 Cases, * pay obligations arising from or related to the carve-out, * pay prepetition obligations as approved by the Bankruptcy Court, and * fund working capital and other general corporate needs and purposes of the OpCo Borrowers and certain of their affiliates, in each case in accordance with the OpCo DIP Credit Agreement and the applicable debtor-in-possession orders of the Bankruptcy Court (the "DIP Orders"), including an approved budget, subject to permitted variances. The obligations under the OpCo DIP Facility are guaranteed by each guarantor party thereto and secured by liens on substantially all assets of the OpCo Borrowers and guarantors, subject to certain exceptions, and constitute super-priority administrative expense claims under section 364(c) of the Bankruptcy Code. The OpCo DIP Credit Agreement contains representations and warranties, affirmative and negative covenants, and events of default customary for debtor-in-possession financings of this type. Super-Holdco DIP Credit Agreement On May 28, 2026, the Company, as parent, Trinseo NA Finance LLC, as holdings, Trinseo Luxco Finance SPV S.a r.l. and Trinseo NA Finance SPV LLC, as borrowers, the guarantors party thereto from time to time, the lenders party thereto from time to time, and Alter Domus (US) LLC, as administrative agent and collateral agent, entered into a Senior Secured Super-Priority Debtor-In-Possession HoldCo Credit Agreement, providing for a senior secured super-priority priming term loan debtor-in-possession credit facility in an aggregate principal amount of $157.5 million. The Super-Holdco DIP Facility consists of: * new money term loan commitments in an aggregate principal amount of $52.5 million, of which $35.0 million was drawn in a single borrowing on the closing date; and * a roll-up facility pursuant to which $105.0 million of aggregate principal amount of prepetition first lien term loan obligations (including accrued and unpaid interest thereon) held by the SHC DIP Lenders will be deemed "rolled up" and converted into term loans under the Super-Holdco DIP Facility, on a cashless basis at a ratio of two dollars of roll-up term loans for every one dollar of new money commitments funded. The new money term loans under the Super-Holdco DIP Facility bear interest at a rate per annum equal to SOFR (subject to a floor of 3.00%) plus 9.00%, payable in cash. The roll-up term loans under the Super-Holdco DIP Facility bear interest at a rate per annum equal to SOFR (subject to a floor of 3.00%) plus 8.50%, payable in cash. The Super-Holdco DIP Facility is subject to a commitment fee, which was paid in kind in full at closing, and a put option premium, which is payable in kind on each date that new money term loans are funded. The Super-Holdco DIP Facility matures on the earliest to occur of: * May 28, 2027, * the effective date of a chapter 11 plan, * the acceleration of the outstanding term loans and termination of commitments, * certain other customary events set forth in the Super-Holdco DIP Credit Agreement, and * the closing of a sale of all or substantially all assets or equity of the loan parties (other than to another loan party). The Super-Holdco DIP Facility is subject to a minimum liquidity covenant requiring liquidity of not less than $25.0 million, tested weekly, and a disbursements variance covenant requiring total actual operating disbursements not to exceed total budgeted operating disbursements (subject to certain exceptions) by more than 17.5% over applicable testing periods. The Chapter 11 Cases are also subject to certain milestones, including deadlines for entry of the final DIP order and confirmation of the Plan. The proceeds of the Super-Holdco DIP Facility may be used to: * roll up amounts outstanding under the prepetition first lien secured obligations, * make adequate protection payments, * pay the fees, expenses, and administrative costs of the Chapter 11 Cases, * pay obligations arising from or related to the carve-out, * pay prepetition obligations as approved by the Bankruptcy Court, and * fund working capital and other general corporate needs and purposes of the SHC Borrowers and certain of their affiliates, in each case in accordance with the Super-Holdco DIP Credit Agreement and the applicable DIP Orders (including an approved budget, subject to permitted variances). The obligations under the Super-Holdco DIP Facility are guaranteed by each guarantor party thereto and secured by liens on substantially all assets of the SHC Borrowers and guarantors, subject to certain exceptions, and constitute super-priority administrative expense claims under section 364(c) of the Bankruptcy Code. The Super-Holdco DIP Credit Agreement contains representations and warranties, affirmative and negative covenants, and events of default customary for debtor-in-possession financings of this type. Accounts Receivable Securitization Facility In connection with the Chapter 11 Cases and the DIP Facilities, on May 29, 2026, Styron Receivables Funding Designated Activity Company, a company incorporated in Ireland, Trinseo Ireland Global IHB Limited, as investment manager, the lenders party thereto, GLAS USA LLC, as administrative agent, and GLAS Americas LLC, as collateral agent, entered into an Amendment and Restatement Agreement, which amends and restates the Credit and Security Agreement, dated as of July 18, 2024. The AR Credit Agreement provides for a non-recourse revolving credit facility in an aggregate amount of up to $150.0 million, collateralized by certain trade receivables generated by certain of the Company's Swiss, German, Dutch and U.S. subsidiaries. Advances under the AR Credit Agreement bear interest at a rate per annum equal to Term SOFR (subject to a floor of 2.00%) plus 6.00%, payable in cash. The AR Facility incurs interest on a minimum of $75,000,000 of advances irrespective of actual amounts outstanding. The AR Borrower is also required to pay an unused facility fee on a portion of the unfunded revolving commitments, as well as ongoing agent fees and servicing fees. The AR Facility matures on the earliest to occur of: * May 29, 2027, * the date the Debtors exit the Chapter 11 Cases under a chapter 11 plan, and * the occurrence of an amortization event as set forth in the AR Credit Agreement. The proceeds of the AR Facility may be used to: * refinance the obligations under the existing credit and security agreement, * finance the purchase of eligible receivables, * pay transaction expenses, interest, fees and other amounts due under the AR Credit Agreement and the other transaction documents, and * repay the subordinated junior loan note. The obligations under the AR Facility are secured by a first-priority security interest in substantially all of the AR Borrower's assets, including all pool receivables, related security, collections, collection accounts and other transaction accounts, and all proceeds of any of the foregoing. The AR Credit Agreement contains representations, warranties, affirmative and negative covenants, and amortization events customary for receivables securitization facilities of this type, including but not limited to a cross-default to the Company's and its subsidiaries' other material indebtedness. As part of exit financing contemplated by the Plan, the Restructuring Support Agreement provides that, on the effective date of a chapter 11 plan, the AR Facility will be converted into, or refinanced by, an exit accounts receivable securitization facility on terms and conditions to be agreed upon by the Debtors and the creditor parties. Additional Information Court filings and information about the Chapter 11 Cases can be found at a website maintained by the Company's claims agent, Kroll Inc., at https://restructuring.ra.kroll.com/trinseo, or by contacting Kroll Inc. at (888) 401-9681 (toll-free) or (332) 232-3252 (international). Additional information regarding the restructuring is available at www.StrengtheningTrinseo.com. Full text copies of the OpCo DIP Credit Agreement, the Super-Holdco DIP Credit Agreement, and the Amendment and Restatement Agreement are available at https://tinyurl.com/4mbpm5dv, https://tinyurl.com/3vpc9tbf, and https://tinyurl.com/4ufzft8d, respectively. 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. UG PROPERTIES: Hires Blue Bee Bankruptcy Law as Local Counsel ------------------------------------------------------------- UG Properties, LLC filed an amended application seeking approval from the U.S. Bankruptcy Court for the District of Utah to hire Chip Parker, Esq. of Blue Bee Bankruptcy Law to serve as co- and local counsel in this Chapter 11 bankruptcy case. Mr. Parker will provide these services: (a) advise Debtor with respect to its powers and duties as Debtor-in-possession; (b) advise Debtor with respect to its responsibilities in complying with the US Trustee's Operating Guidelines and Reporting Requirements and with the Local Rules of this Court; (c) prepare motions, pleadings, orders, applications, disclosure statements, plans of reorganization, adversary proceedings, and other such legal documents necessary in the administration of this case; (d) protect the interest of Debtor in all matters pending before the Court; and (e) represent Debtor in negotiations with its creditors and in preparation of the disclosure statement and plan of reorganization. Mr. Parker will receive an hourly rate of $550. A retainer in the amount of $30,000 was paid to Brett Weiss of The Weiss Law Group, LLC prior to the Petition Date. Chip Parker and the attorneys of Blue Bee Bankruptcy Law are "disinterested" as required by Sec. 327(a) of the Bankruptcy Code, according to court filings. The firm can be reached at: Chip Parker, Esq. BLUE BEE BANKRUPTCY LAW 225 South 200 East, Ste. 140 Salt Lake City, UT 84111 Telephone: (801) 624-6767 Facsimile: (801) 624-6703 E-mail: bkservice@b3.law About UG Properties, LLC UG Properties, LLC owns fee simple interests in properties in Brigham City, Utah, Inglewood, California, and Bell Gardens, California. UG Properties, LLC sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Utah Case No. 26-22008) on April 9, 2026. At the time of the filing, Debtor had estimated assets of between not provided and liabilities of between not provided. Judge Michael F. Thomson oversees the case. Blue Bee Bankruptcy Law is Debtor's legal counsel. UTAH CHARTER: S&P Lowers 2015/2018 Bonds Ratings to 'BB+' --------------------------------------------------------- S&P Global Ratings S&P Global Ratings lowered its underlying rating on Utah Charter Academies Inc.'s (UCA) series 2018 and series 2015 bonds to 'BB+' from 'BBB-'. At the same time, S&P Global Ratings assigned its 'BB+' long-term rating to the Utah Charter School Finance Authority' $70.4 million series 2026 charter school revenue bonds, issued for UCA. The outlook on all ratings is stable. The lower rating reflects a significant increase in leverage following the issuance of the series 2026 bonds. S&P said, "Although we believe the network has a good track record of executing strategic plans, we also believe the lower rating better reflects expansion risk as UCA looks to enlarge its footprint in a new market, and our expectation that the financial profile that will likely become more modest as the school executes its plans." S&P analyzed UCA's environmental, social, and governance factors and consider them neutral in its credit rating analysis. S&P said, "The stable outlook reflects our expectation that financial performance will remain positive, translating into operating margins and coverage that are slim but acceptable for our rating expectations. We also believe UCA will likely meet enrollment projections and nominal reserves will remain consistent or grow, though days' cash on hand could moderate as the school's operating budget grows. "We could take a negative rating action if UCA experiences a drawdown in liquidity no longer acceptable for the rating or if financial performance does not meet expectations. Furthermore, a material variance from enrollment projections could also pressure the rating. "We do not believe a positive rating action is likely during the outlook period given that UCA's expansion plans will take several years to execute. A sustained trend of higher liquidity levels and MADS coverage following the successful completion of the expansion would be necessary to warrant a positive rating action beyond the outlook period." VITAL PHARMACEUTICALS: Putative Class Proof of Claim Disallowed --------------------------------------------------------------- Judge Peter D. Russin of the U.S. Bankruptcy Court for the Southern District of Florida sustained the objection of the Liquidating Trustee for Vital Pharmaceuticals, Inc. to the putative class proof of claim in the bankruptcy case. Proof of Claim No. 617, filed by Brendan Abbott, Peter Fischer, and Carlton Harris, individually and on behalf of all others similarly situated, is disallowed in its entirety. Vital Pharmaceuticals, Inc. and its affiliated debtors filed voluntary petitions for chapter 11 relief on October 10, 2022. Prior to the Petition Date, two putative class action lawsuits had been filed against Vital Pharmaceuticals in Missouri state court alleging that its Bang Energy products were marketed as containing Super Creatine, a compound the complaints alleged contained no actual creatine, in violation of consumer protection statutes. Both actions were removed to the Eastern District of Missouri and were automatically stayed upon the Petition Date, still at the motion to dismiss stage. No motion for class certification was filed in either action at any point. On December 19, 2022, the general bar date ran. The Debtors provided actual notice to the Putative Class Claimants and their counsel, and constructive notice via publication in the Wall Street Journal, Miami Herald, and Sun-Sentinel. This Court's Bar Date Order found that publication notice was adequate. Despite that notice, not a single individual member of the putative class filed a proof of claim. The Putative Class Claimants filed Proof of Claim No. 617 on December 19, 2022, asserting a claim of not less than $500,000,000 on behalf of a putative nationwide class of Bang Energy consumers. At the same time, Carlton Harris filed an application for an administrative expense claim based on postpetition purchases of Bang products. The Debtors objected, and on October 25, 2023, more than a year after the Petition Date, the parties entered into the Administrative Claim Stipulation, which resolved the administrative claim. It provided that the parties would take no action to "allow or disallow, or liquidate" the Putative Class Claim until the Liquidating Trustee determined to make an initial distribution to holders of allowed General Unsecured Claims. The Plan of Liquidation was confirmed on November 8, 2023, and became effective on November 21, 2023. It was accepted by all voting classes. Following the Effective Date, the Liquidating Trustee began the work of administering the estate: prosecuting the Owoc adversary proceeding, resolving claims, and working toward a distribution to general unsecured creditors. By the time of the hearing on this matter, the Liquidating Trustee had reduced the general unsecured claims pool by more than $300 million and had resolved all but 1 of 32 administrative claims. Having determined to make an initial distribution to holders of Class 3 Allowed General Unsecured Claims, the triggering condition under the Admin Stipulation, the Liquidating Trustee filed the objection to the Putative Class Claim on January 23, 2026, seeking to disallow and expunge the claim in its entirety. The filing of the Objection created a contested matter under Bankruptcy Rule 9014. The Putative Class Claimants timely filed their response on March 9, 2026, opposing the Objection and simultaneously moving for application of Bankruptcy Rule 7023 and certification of a nationwide consumer class. The threshold question is whether the Putative Class Claimants' motion is procedurally timely. The Liquidating Trustee argues that the failure to seek application of Rule 7023 at any point during the three-plus years these cases have been pending is itself fatal to the motion, independent of any discretionary analysis. The Court disagrees. The parties agreed in writing to defer all action to "allow or disallow, or liquidate" the Putative Class Claim until distributions to general unsecured creditors were forthcoming. The resolution of whether Rule 7023 applies is necessarily part of the process of determining how the Putative Class Claim will be allowed or disallowed. The Liquidating Trustee agreed to that deferral and received its benefit: two-plus years of unimpeded estate administration during which no Rule 7023 fight disrupted that work. Having received that benefit, the Liquidating Trustee cannot now characterize the agreed inaction as evidence of the Claimants' procedural default. The Court therefore holds that the Rule 7023 motion is timely. Timeliness establishes that the Court has the authority to apply Rule 7023. With timeliness resolved in the Claimants' favor, the Court turns to the dispositive question: whether to exercise its discretion to apply Rule 7023. Rule 7023 in the bankruptcy context exists to perform a specific function: to convert illusory individual claims into aggregate claims, giving dispersed small creditors an economically viable path to recovery they could not achieve on their own. Judge Russin holds, "The Bang Energy consumer at the heart of this case has a real grievance, and the law designed Rule 7023, at least in part, for her. The rule applies when it can actually serve that function: when aggregation converts illusory individual claims into real recoveries for real people. On this record, it cannot. The distribution chain leaves individual claims unprovable as a practical matter. The distribution threshold makes individual recoveries impossible even if proven. And the deterrent rationale that sometimes justifies class treatment even where individual recovery is modest is absent here: the enterprise has been liquidated, and its successor is the party that established in prior litigation that the Super Creatine representation was wrong. The class device, faithfully applied to this record, serves only its form. The motion is timely, and the Court gives the Claimants that. The cost-benefit analysis is not close. The Objection is sustained." The motion for application of Bankruptcy Rule 7023 is denied. A copy of the Court's Order dated May 29, 2026, is available at http://urlcurt.com/u?l=Usudy6from PacerMonitor.com. About Vital Pharmaceuticals Since 1993, Florida-based Vital Pharmaceuticals, Inc., doing business as Bang Energy and as VPX Sports, has developed performance beverages, supplements, and workout products to fuel high-energy lifestyles. VPX Sports is the maker of Bang energy drinks, among other consumer products. Vital Pharmaceuticals, Inc., along with certain of its domestic subsidiaries and affiliates, filed voluntary petitions for protection under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Fla. Lead Case No. 22-17842) on Oct. 10, 2022. VPX estimated $500 million to $1 billion in assets and liabilities as of the bankruptcy filing. The Hon. Scott M. Grossman is the case judge. The Debtors tapped Latham & Watkins, LLP as general bankruptcy counsel; Berger Singerman, LLP as local counsel; Haynes and Boone, LLP and Faulkner ADR Law, PLLC as special counsels; Huron Consulting Group, Inc., as CTO services provider; and Rothschild & Co US, Inc., as investment banker; and Grant Thornton, LLP as financial advisor. Stretto, Inc., is the notice, claims and solicitation agent. The U.S. Trustee for Region 21 appointed an official committee of unsecured creditors on Nov. 1, 2022. The committee tapped Lowenstein Sandler, LLP as general bankruptcy counsel; Sequor Law, P.A., as local counsel; and Lincoln Partners Advisors, LLC as financial advisor. The Bankruptcy Court on Nov. 8, 2023, confirmed Vital Pharmaceuticals' Second Amended Joint Plan of Liquidation. The Plan constitutes a separate Plan for each Debtor for the resolution of outstanding Claims and Interests pursuant to the Bankruptcy Code. The Debtors consummated the Sale Transaction in accordance with the Sale Order. The Debtors liquidated and wound down their Estates. The Plan reflects the terms of a global settlement between the Debtors, Creditors' Committee, certain Prepetition Lenders, Prepetition Agent, certain DIP Lenders, DIP Agent, Monster, MEC, MBC and OBI as memorialized in the Settlement Term Sheet dated June 28, 2023, as approved by the Court on July 14, 2023. W/L PROPERTIES: Hires J&S Property Management as Property Manager ----------------------------------------------------------------- W/L Properties L.L.C. seeks approval from the U.S. Bankruptcy Court for the District of Connecticut to hire J&S Property Management LLC as property manager. The Debtor will manage the Debtor's commercial real estate located at 1379 Farmington Avenue, Bristol, Connecticut. The proposed hourly rate for J&S principals and employees is $20 per hour. As disclosed in the court filings, neither J&S nor any of its members or employees have any interest adverse to the estate and are "disinterested persons" as that term is defined by 11 U.S.C. Sec. 101(14). The firm can be reached through: Stephen Carl Larson J&S Property Management LLC 982 Jerome Ave, Bristol, CT 06010 Phone: (519) 221-4021 Email: simon@jandspropertymgmt.com About W/L Properties L.L.C. W/L Properties L.L.C. is a single-asset real estate company that owns The Shoppes at Larson Farm, a 59,201-square-foot retail plaza at 1379 Farmington Avenue in Bristol, Connecticut. The property has an estimated value of $13.49 million. W/L Properties L.L.C. filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. D. Conn. Case No. 26-20444) on May 1, 2026, listing $13,582,367 in assets and $10,413,156 in liabilities. Stephen C. Larson signed the petition as managing member. Edward P. Jurkiewicz, Esq. at LAWRENCE & JURKIEWICZ, LLC serves as the Debtor's counsel. WELLPATH HOLDINGS: Court Approves Stipulation Subtituting Defendant ------------------------------------------------------------------- Magistrate Judge Erica P. Grosjean of the U.S. District Court for the Eastern District of California approved the stipulation entered into by the parties in the case captioned as J.S., a minor, by and through her proposed guardian ad litem, LENA ESCAMILLA, individually and as co-successor in interest to Decedent WILLIAM SLAVEN; J.T., a minor, by and through her proposed guardian ad litem, HEATHER TURNER, individually and as co-successor in interest to Decedent WILLIAM SLAVEN; TERESA SLAVEN, individually; and, ROBERT SLAVEN, individually, Plaintiffs, vs. COUNTY OF FRESNO, a public entity; Fresno County Sheriff's Office employees DOES 1-30, individually; WELLPATH, LLC, a Delaware corporation; JESSICA MARTINEZ, LMFT; DOES 33-50; and, DOES 51-70, jointly and severally, Defendants, Case No. 1:23-cv-01070-KES-EPG (E.D. Cal.). Pursuant to Federal Rule of Civil Procedure 15(a)(2), Plaintiffs may file the proposed Second Amended Complaint, which substitutes in Wellpath Liquidating Trust for Wellpath, LLC, and California Forensic Medical Group, Inc., for DOE Defendant 33. Through the bankruptcy proceedings of Defendant Wellpath, LLC, a Liquidating Trust assumed the liability of Defendant Wellpath, LLC for wrongful death claims such as this, which arose before November 11, 2024, the date on which Defendant Wellpath, LLC filed for bankruptcy. Plaintiffs assert that information that came to light after the bankruptcy proceedings of Defendant Wellpath, LLC, indicates there is an additional party, California Forensic Medical Group, Inc. ("CFMG"), which is a required party under Federal Rule of Civil Procedure 19(a), who needs to be substituted in for DOE Defendant 33. CFMG is an entity that is separate and distinct from Defendant Wellpath, LLC. Defendants consent to the filing by Plaintiffs of a Second Amended Complaint that effectuates these objectives, pursuant to Federal Rule of Civil Procedure 15(a)(2). A copy of the Stipulation and Court's Order dated May 29, 2026, is available at http://urlcurt.com/u?l=FXoZeZfrom PacerMonitor.com. About Wellpath Holdings Wellpath Holdings, Inc., formerly known as CCS-CMGC Holdings, Inc., is a provider of medical and mental healthcare in jails, prisons, and inpatient and residential treatment facilities. Wellpath Holdings and its affiliates sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Texas Lead Case No. 24-90533) on Nov. 11, 2024. Timothy Dragelin, chief restructuring officer and chief financial officer, signed the petitions. At the time of the filing, the Debtors reported $1 billion to $10 billion in assets and liabilities. Judge Alfredo R. Perez oversees the cases. The Debtors tapped Marcus A. Helt, Esq., at McDermott Will & Emery, LLP, as bankruptcy counsel; FTI Consulting, Inc., as financial advisor; and Lazard Freres & Co., LLC and MTS Partners, LP as investment banker. The Bankruptcy Court confirmed the chapter 11 plan on May 1, 2025. WEST SEATTLE: Taps Scordato Law PLLC as Bankruptcy Counsel ---------------------------------------------------------- West Seattle Natural Energy, LLC seeks approval from the U.S. Bankruptcy Court for the Western District of Washington to hire Scordato Law, PLLC as counsel. The firm will render these services: a. take all actions necessary to protect and preserve Debtor's bankruptcy estate, including the prosecution of actions on Debtor's behalf; b. undertake, in conjunction as appropriate with special litigation counsel, the defense of any action commenced against Debtor, negotiations concerning litigation in which Debtor is involved, objections to claims filed against Debtor in this bankruptcy case, and the compromise or settlement of claims; c. prepare the necessary applications, motions, memoranda, responses, complaints, answers, orders, notices, reports, and other papers required from the Debtor in connection with the administration of this case; d. negotiate with creditors concerning a Chapter 11 plan, to prepare a Chapter 11 plan (and disclosure statement, if necessary), and related documents, and to take the steps necessary to confirm and implement the proposed plan of reorganization; and d. provide such other legal advice or services as may be required in connection with the Chapter 11 case. The firm will charge $400 per hour for the services of its attorney. Kathryn P. Scordato. Ms. Scordato assured the court that his firm is a "disinterested person" within the meaning of 11 U.S.C. Sec. 101(14). The firm can be reached through: Kathryn P. Scordato, Esq. Scordato Law, PLLC PO Box 1962 Seattle, WA 98111 Phone: (206) 223-9595 Cell/Text: (253) 666-9161 Email: kathryn@scordatolaw.com About West Seattle Natural Energy LLC West Seattle Natural Energy, LLC, dba West Seattle Electric and Solar, is a family-owned electrical and solar contractor. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Wash. Case No. 26-11279-TWD) on April 20, 2026. In the petition signed by Amy Beaudoin, member, the Debtor disclosed up to $1 million in both assets and liabilities. Judge Timothy W. Dore oversees the case. Kathryn P. Scordato, Esq., at Scordato Law, PLLC, represents the Debtor as legal counsel. WHIRLPOOL CORP: Moody's Cuts Rating on Sr. Unsecured Notes to B2 ---------------------------------------------------------------- Moody's Ratings downgraded the senior unsecured notes ratings of Whirlpool Corporation's (Whirlpool) and its guaranteed subsidiary borrowers, Whirlpool EMEA Finance S.a r.l. (WEF) and Whirlpool Finance Luxembourg S.a.r.l (WFL) to B2 from B1. All other ratings of the company remain unchanged, including the company's Ba3 Corporate Family Rating, Ba3-PD Probability of Default rating, and the Ba1 rating on the company's senior secured second lien notes. The Not Prime commercial paper ratings of Whirlpool and its guaranteed subsidiary borrower Whirlpool Europe B.V. are also unchanged and the outlooks for Whirlpool, WEF and WFL remain negative. Whirlpool upsized its senior secured second lien notes offering to $2.0 billion from $1.5 billion, consisting of two $1.0 billion tranches due 2031 and 2034. Whirlpool expects to use the proceeds from the second lien notes offering to refinance WFL's existing Euro-denominated unsecured notes due 2026 (EUR500 million) and 2027 (EUR600 million) and repay 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. Moody's expects to withdraw the ratings on the Euro-denominated notes maturing in 2026 and 2027 if they are repaid in full as part of the refinancing. The downgrade of the senior unsecured notes ratings to B2 reflects their greater effective subordination within the company's capital structure following the upsized second lien notes offering. The unsecured notes lack upstream guarantees from operating subsidiaries, and these instruments are effectively subordinated to the larger amount of secured debt and structurally subordinated to operating company liabilities including leases, pensions and accounts payable. 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 upsized second lien 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. RATINGS RATIONALE Whirlpool's Ba3 CFR reflects its significant scale and strong 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 over time, 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 increase 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. A comprehensive review of all credit ratings for the respective issuer(s) has been conducted during a rating committee. 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. WINEBOW HOLDINGS: Golub Capital Marks $9.2M Loan at 16% Off ----------------------------------------------------------- Golub Capital BDC, Inc. has marked its $9,190,000 loan extended to Winebow Holdings, Inc. to market at $7,719,000 or 84.0% of the outstanding amount, according to Golub Capital BDC's 10-Q for the period ended March 31, 2026, filed with the U.S. Securities and Exchange Commission on May 4, 2026. Golub Capital BDC, Inc. is a participant in a one stop loan extended to Winebow Holdings, Inc. The Loan accrues interest at a rate of SF + 6.25% (i) 10.02% per annum. The Loan matures on December 31, 2027. Golub Capital BDC, Inc. is a business development company that provides financing solutions to middle-market companies. The Fund is led by David B. Golub as Chief Executive Officer (Principal Executive Officer) and Christopher C. Ericson as Chief Financial Officer (Principal Accounting and Financial Officer). The Fund can be reached at: David B. Golub Golub Capital BDC, Inc. 200 Park Avenue, 25th Floor New York, NY 10166 Telephone: (212) 750-6060 About Winebow Holdings, Inc. Winebow Holdings, Inc. is a distributor and marketer of wine and related beverages, serving retailers and hospitality customers across its operating regions. WINESHIPPING.COM LLC: Golub Capital Marks $11.1M Loan at 28% Off ---------------------------------------------------------------- Golub Capital BDC, Inc. has marked its $11,140,000 loan extended to Wineshipping.com LLC to market at $8,021,000 or 72% of the outstanding amount, according to Golub Capital BDC's 10-Q for the fiscal year ended March 31, 2026, filed with the U.S. Securities and Exchange Commission. Golub Capital BDC, Inc. is a participant in a one stop loan extended to Wineshipping.com LLC. The Loan accrues interest at a rate of SF + 6.25 % (j) 4.85 % cash / 5.25 % PIK per annum. The Loan matures on December 2028. Golub Capital BDC, Inc. is a business development company that provides financing solutions to middle-market companies. The Fund is led by David B. Golub as Chief Executive Officer (Principal Executive Officer) and Christopher C. Ericson as Chief Financial Officer (Principal Accounting and Financial Officer). The Fund can be reached at: David B. Golub Golub Capital BDC, Inc. 200 Park Avenue, 25th Floor New York, NY 10166 Telephone: (212) 750-6060 About Wineshipping.com LLC Wineshipping.com LLC operates in the food and staples retailing sector, providing logistics and related services tailored to wine and beverage distribution. WINESHIPPING.COM LLC: Golub Capital Marks $301,000 Loan at 28% Off ------------------------------------------------------------------ Golub Capital BDC, Inc. has marked its $301,000 loan extended to Wineshipping.com LLC to market at $217,000 or 72% of the outstanding amount, according to Golub Capital BDC's 10-Q for the fiscal year ended March 31, 2026, filed with the U.S. Securities and Exchange Commission. Golub Capital BDC, Inc. is a participant in a one stop loan extended to Wineshipping.com LLC. The Loan accrues interest at a rate of SF + 6.25 % (j) 4.85 % cash/ 5.25 % PIK per annum. The Loan matures on December 2028. Golub Capital BDC, Inc. is a business development company that provides financing solutions to middle-market companies. The Fund is led by David B. Golub as Chief Executive Officer (Principal Executive Officer) and Christopher C. Ericson as Chief Financial Officer (Principal Accounting and Financial Officer). The Fund can be reached at: David B. Golub Golub Capital BDC, Inc. 200 Park Avenue, 25th Floor New York, NY 10166 Telephone: (212) 750-6060 About Wineshipping.com LLC Wineshipping.com LLC operates in the food and staples retailing sector, providing logistics and related services tailored to wine and beverage distribution. ********* 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. 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