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260612.mbx T R O U B L E D C O M P A N Y R E P O R T E R Friday, June 12, 2026, Vol. 30, No. 163 Headlines 100 MCKNIGHT: Court Extends Cash Collateral Access to July 4 124 CROWN: Seeks Chapter 11 Bankruptcy in New York 1924 WASHBURN: Commences Chapter 11 Bankruptcy in New York 2623 N MAIN: Commences Chapter 11 Bankruptcy in New York 34 PLEASANT PLACE: Case Summary & Six Unsecured Creditors 540 THEODORE: Starts Chapter 11 Bankruptcy in New York 599 LIBERTY: To Sell Brooklyn Property to Aaron Stark for $490K 915 HICKORY: Initiates Chapter 11 Bankruptcy in New York 931 PROVIDENCE: Starts Chapter 11 Bankruptcy in New York A2Z FIELD: Gets Final OK to Use Cash Collateral ACPRODUCTS HOLDINGS: S&P Assigns 'CCC+' ICR, Outlook Negative AIBH GROUP: Tamara Miles Ogier Named Subchapter V Trustee ALL REAL SERVICES: Gets Final Court Nod to Use Cash Collateral ALLEGIANT TRAVEL: S&P Rates New $500MM Senior Secured Notes 'BB' ALLSTAR PROPERTIES: To Sell Georgia Properties to C. & A. Culver ALLSTAR PROPERTIES: To Sell Rome Property to Bryan Freeman AMERICAN LOCATING: H. Faith Welch Named Subchapter V Trustee APPLIED COMPUTECO 3: S&P Assigns 'B+' LT ICR, Outlook Positive ARTISTIC HOLIDAY: Gets Extension to Access Cash Collateral ATBIZ LLC: Gets Final OK to Use Cash Collateral AUTOLYCUS LLC: CCG Collateral Sale to PowerMove AssetCo OK'd BELDEN INC: Moody's Affirms 'Ba2' CFR, Outlook Stable BELLEROSE TERRACE: Court OKs Boston Property Sale Withdrawal BOKQUA LLC: Claims to be Paid from Property Sale Proceeds BRADFORD MEDIA: Case Summary & Seven Unsecured Creditors BROADBAND INFRASTRUCTURE: Gets Extension to Access Cash Collateral C & S ADKINS: Andrew Kight Named Subchapter V Trustee CALLAWAY GOLF: Moody's Withdraws 'Ba3' CFR on Debt Repayment CAN TRAIL: Unsecureds Will Get 10% of Claims over 60 Months CARLSBAD 10: Seeks to Extend Plan Exclusivity to Sept. 1 CARPENTER FAMILY: To Sell Darlington Property to CFF LLC CENTRAL FLORIDA: To Sell Equipment to Century International Arms CENTURY BARBERSHOP: Aleida Molina Named Subchapter V Trustee CERA TILE: Court OKs Interim Use of Cash Collateral CHEESE SHOP: Daniel Bruton Named Subchapter V Trustee CHEWY INC: S&P Assigns 'BB' Issuer Credit Rating, Outlook Stable CHRISTMAN CABLE: Gets Final OK to Use Cash Collateral COLLEGE ACHIEVE: S&P Affirms 'B+' Rating on 2022A Revenue Bonds COMPASS POWER: Moody's Affirms 'Ba3' Rating on Senior Secured Debt COSAMIA LLC: Court Extends Cash Collateral Access to June 23 D&M KITCHEN: Gets Interim OK to Use Cash Collateral DALTONBRIELLA LLC: Case Summary & One Unsecured Creditor DAMIS HOLDINGS: Voluntary Chapter 11 Case Summary DAYTONA THUNDER: Court Extends Cash Collateral Access to Aug. 6 DELANI CONSTRUCTION: Gets Extension to Access Cash Collateral DELTA ACADEMY: S&P Assigns 'BB' LT Rating on 2026 Revenue Bonds DITECH HOLDING: Court Upholds Dismissal of Lopez-Farooq Complaint DIVERSIFIED MASONRY: Court Court Partially Allows Attorney's Fees DURTY DEVILZ: Holly Miller Named Subchapter V Trustee EASTSIDE COLLISION: Tamara Miles Ogier Named Subchapter V Trustee EAZY-PZ LLC: Gets OK to Use Cash Collateral EL DORADO: Tenant Has Until June 18 to Vacate Estate Property ELITA 7 LLC: Claims to be Paid from Asset Sale Proceeds ENGLEWOOD CAR: Michael Markham Named Subchapter V Trustee EPIC COMPANIES: Loses Summary Judgment Bid in EPIC Gateway Case EPIC COMPANIES: Loses Summary Judgment Bid in Sheyenne 32 Case FAMILY SOLUTIONS: To Sell Baton Rouge Property to Kumar LLC FITNESS 101: Seeks Chapter 11 Bankruptcy in Washington FOUNDATION WERKS: Income & Ongoing Operations to Fund Plan FREEDOM FOREVER: Gets Final OK to Use Cash Collateral GABBY INVESTMENT: Voluntary Chapter 11 Case Summary GOHEALTH INC: Akin Gump, Young Conaway Advise Term Lenders Group GOHEALTH INC: Insurance Brokerage Seeks Ch. 11 with Prepacked Plan GOLD MOUNTAIN: Voluntary Chapter 11 Case Summary GRABOYES LLC: Seeks Chapter 11 Bankruptcy with Over $10MM Debt GULF SOUTH: Greta Brouphy Named Subchapter V Trustee GULF STATES: To Sell Intangible Assets to Mark Jones for $5K HORSEY DENISON: Court Confirms Vallit Report as Arbitration Award HOUSE WINE: Case Summary & 20 Largest Unsecured Creditors HPC MOTORSPORTS: Melissa Haselden Named Subchapter V Trustee HUDBAY MINERALS: S&P Rates US$52MM Unsecured Revenue Bonds 'BB-' HUMBLE BARON: Case Summary & 20 Largest Unsecured Creditors HUTCHINSON REGIONAL: Moody's Alters Outlook on Ba2 Issuer to Neg. INSPIRED HEALTHCARE: Plan Exclusivity Period Extended to Aug. 31 INSPIREMD INC: Stockholders Approve Authorized Shares Hike to 250M INTEGRIS EQUIPMENT: Mark Schlant Named Subchapter V Trustee INVATECH PHARMA: Seeks to Extend Plan Exclusivity to June 26 IROBOT CORP: Dismissal of Sec. 10(b), Sec. 20(a) Claims Reversed JAY'S PRIME: Gets Interim OK to Use Cash Collateral JBI MANAGEMENT: John Whaley Named Subchapter V Trustee JEFFREY SIMPSON: Can't Remove Chassen, et al. Case to Federal Court JJ ARCH: Court Affirms Dismissal of Bankruptcy Case JMK5 ABILENE: Voluntary Chapter 11 Case Summary JOHNSON 2944: Involuntary Chapter 11 Case Summary KAH HOSPICE: S&P Rates Proposed $1.96BB First-Lien Term Loan 'B-' KUBERA HOTEL: Court OKs Deal to Extend Cash Collateral Access LACEY'S INVESTMENT: Tamara Miles Ogier Named Subchapter V Trustee LITHOTYPE COMPANY: Court Extends Cash Collateral Access to July 10 LS INTERIORS: Amends Unsecured Claims Pay Details LUCY COOPER: Gets Final OK to Use Cash Collateral MADISYN ON PARK: To Sell Clearwater Property to U.S. Bank Trust MANNATECH INC: Shareholders Elect 2 Directors, Ratify BDO MARAVAI TOPCO: S&P Alters Outlook to Stable, Affirms 'B-' ICR MARYLAND HEALTH: Seeks to Extend Plan Exclusivity to Oct. 5 MAYFLOWER CHOICE: Gets Interim OK to Use Cash Collateral MCGLOTHLIN INVESTMENTS: Unsecureds to be Paid in Full in Plan MITT REAL ESTATE: Todd Hennings Named Subchapter V Trustee MOUNTAIN POWER: Gets Extension to Access Cash Collateral MOUNTAIN REGIONAL: Plan Exclusivity Period Extended to June 16 MP OCTOPUS: Court OKs Pizza Restaurant Assets to Mahesh Patel MURPHY'S CONCRETE: Wins Interim Cash Collateral Access NEW YORK: To Sell Neptune Property to DMR Construction Services NEXT GENERATION: Gets Final OK to Use Cash Collateral NORTH AMERICAN CONSTRUCTION: S&P Rates New Unsecured Notes 'BB-' OCOEE BOTANICALS: Court Extends Cash Collateral Access to June 25 ONE CANAL PLACE: Commences Chapter 11 Bankruptcy in New Jersey OUTFRONT MEDIA: Moody's Rates New $500MM Sr. Unsecured Notes 'B1' PALM BEACH: Gets Interim OK to Use Cash Collateral PARK VIEW: American First Wins Bid to Enforce Stipulation PCMZ NUTRA: Carol Fox of GlassRatner Named Subchapter V Trustee PEGASO ENERGY: HKA Global, et al., Win Bid for Compensation PHOENIX RISING: Andrew Layden Named Subchapter V Trustee PIXELLE SPECIALTY: S&P Downgrades ICR to 'CCC-', Outlook Negative PLEASE & THANK: Case Summary & 20 Largest Unsecured Creditors PLH HOMES: John Whaley Named Subchapter V Trustee POLELINE LENDER: Court Cuts Patrick Geile's Fees by $6,688 PRIMROSE CANDY: Plan Exclusivity Period Extended to Aug. 17 QUADSTAR REALTY: Commences Chapter 11 Bankruptcy in New Jersey RAD DIVERSIFIED: Court OKs Philadelphia Property Sale at Auction RAD DIVERSIFIED: Court OKs Reno St Property Sale at Auction RADNET MANAGEMENT: Moody's Cuts Rating on First Lien Loans to B1 RAVEN SHADOW: Paula Beran Named Subchapter V Trustee REINFRO LLC: Gets Final Court Nod to Use Cash Collateral RELIZ TECHNOLOGY: Gets Final OK to Use Cash Collateral RENTAL HUB: Gets Interim OK to Use Cash Collateral Until July 9 REVI EXPRESS: Gets Interim OK to Use Cash Collateral RLG HOLDINGS: S&P Downgrades ICR to 'CCC', Outlook Negative RS AIR: Court Tosses Motion in Limine in Perlman, et al., Case RTJ INVESTMENT: Involuntary Chapter 11 Case Summary S&B INVESTMENT: Involuntary Chapter 11 Case Summary SAVBYN LLC: Holly Miller Named Subchapter V Trustee SB HAULING: Brian Anderson Named Subchapter V Trustee SCHAFER FISHERIES: Court Extends Cash Collateral Access to June 30 SCREAMING GOAT: Leon Jones Named Subchapter V Trustee SHADY TREE: Wins Interim Cash Collateral Access SHARING ECONOMY: Names Privatco Auditor, Replacing LAO SHEPARD TOWERS: Voluntary Chapter 11 Case Summary SHORT PAR 4: Case Summary & 20 Largest Unsecured Creditors SIFI NETWORKS: Case Summary & 25 Largest Unsecured Creditors SIMPLY INTERIOR: Seeks Chapter 11 Bankruptcy w/ Over $100MM Debt SIMPLY INTERIOR: Seeks to Sell Home Decor Business at Auction SINTX TECHNOLOGIES: To Raise About $4.5M in Private Placement STEPADDY1959 LLC: Andrew Layden Named Subchapter V Trustee SUMMIT ACCESS: Seeks to Extend Plan Exclusivity to Sept. 30 SUNPOWER CORP: Kosydar Loses Bid to Interpret Confirmation Order TEHUM CARE: Court Lifts Bankruptcy Stay in Bouton, et al. Case TENET HEALTHCARE: Moody's Ups CFR to Ba2 & Alters Outlook to Stable TFH FITNESS: Case Summary & 20 Largest Unsecured Creditors TIMIOS ENTERPRISES: Gets Interim OK to Use Cash Collateral TMC BUYER: S&P Reinstates 'B' Rating on Revolving Credit Facility TOSCA SERVICES: S&P Affirms 'CCC+' ICR on Continued Cash Burn TREEO'S TREE: Gets Final OK to Use Cash Collateral TWENTY EIGHT: Gets OK to Use Cash Collateral Until June 30 UNITED NATURAL: S&P Upgrades ICR to 'B+' on Improving Leverage URBAN ONE: S&P Upgrades ICR to 'CCC+', Outlook Negative VCHG GHOST: Yann Geron Named Subchapter V Trustee VENICE CAR: Michael Markham Named Subchapter V Trustee VEYTIA VENTURES: Ruediger Mueller Named Subchapter V Trustee VIAVI SOLUTIONS: Moody's Ups CFR to Ba2 & Alters Outlook to Pos., VINTRENDI WINE: Court Extends Cash Collateral Access to July 2 VISTRA OPERATIONS: Moody's Cuts Rating on Revolver Facility to Ba1 VM CONSOLIDATED: Moody's Cuts CFR to B1, Outlook Stable WALL007 LLC: Court Tosses Barton Appeal in Securities Complaint WASHINGTON MUTUAL: Ezell Mortgage Debt Not Discharged Under Plan WELLPATH HOLDINGS: Turner Loses Bid to Enforce Settlement Agreement WELLPATH HOLDINGS: Wins Bid to Dismiss Douglas Case WESTVIEW BAPTIST: Voluntary Chapter 11 Case Summary WHITNEY OIL & GAS: Nichols Lawsuit to Remain in Federal Court WINTHROP STREET: Opposes Bid to Appoint Examiner WISER SOLUTIONS: Gets Final OK for $34.2M DIP Loan From Crestline [^] BOOK REVIEW: Bankruptcy in United States History ********* 100 MCKNIGHT: Court Extends Cash Collateral Access to July 4 ------------------------------------------------------------ 100 McKnight, LLC received another extension from the U.S. Bankruptcy Court for the Northern District of Illinois to use cash collateral. The order extends the Debtor's authorization to use cash collateral through July 4, 2026, under the terms previously established in the December 23, 2025 cash collateral order and the updated budget. The court specified that all provisions of the December 23, 2025 order remain in full force and effect. The extension allows the Debtor to continue operating and using cash collateral while the Chapter 11 case proceeds. The matter was continued for a further hearing scheduled for June 30. As a condition of the extension, the Debtor must promptly pay the real estate taxes due this month. The order requires that payment of these taxes take priority over any other obligations. If funds are insufficient to satisfy both the taxes and other expenses, the debtor must pay the real estate taxes first to maintain its authority to use cash collateral. About 100 Mcknight LLC 100 Mcknight LLC is a single asset real estate company. It owns and manages The Park at Constitution Trail Centre, a student housing apartment community in Normal, Illinois. 100 Mcknight sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 25-19477) on December 22, 2025. In its petition, the Debtor listed between $10 million and $50 million in both assets and liabilities. Honorable Bankruptcy Judge Jacqueline P. Cox is handling the case. The Debtor is represented by Jeffrey K. Paulsen, Esq., at Paulsen & Holtschlag, LLC. 124 CROWN: Seeks Chapter 11 Bankruptcy in New York -------------------------------------------------- On June 5, 2026, 124 Crown LLC filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Eastern District of New York. According to court filings, the Debtor reports between $100,001 and $1 million in debt owed to approximately 1 to 49 creditors. On June 5, 2026, 124 Crown LLC filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Eastern District of New York. According to court filings, the Debtor reports between $100,001 and $1 million in debt owed to approximately 1 to 49 creditors. About 124 Crown LLC 124 Crown LLC is a limited liability company engaged in real estate ownership, property management, and related investment activities. 124 Crown LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-42774) on June 5, 2026. In its petition, the Debtor reported estimated assets ranging from $100,001 to $1 million and estimated liabilities ranging from $100,001 to $1 million. Honorable Bankruptcy Judge Elizabeth S. Stong handles the case. 1924 WASHBURN: Commences Chapter 11 Bankruptcy in New York ---------------------------------------------------------- On June 5, 2026, 1924 Washburn LLC commenced a voluntary Chapter 11 bankruptcy case in the Eastern District of New York. Court records indicate that the Debtor has $100,001 to $1 million in liabilities and approximately 1 to 49 creditors. Deadline Set for Chapter 11 Small Business Plan and Disclosure Statement Filing on December 2, 2026. About 1924 Washburn LLC 1924 Washburn LLC operates as a real estate holding and investment company, focusing on property ownership and asset management. 1924 Washburn LLC filed its Chapter 11 petition under Bankruptcy Case No. 26-42775 on June 5, 2026. The filing lists estimated assets of $100,001 to $1 million and estimated liabilities of $100,001 to $1 million. Honorable Bankruptcy Judge Elizabeth S. Stong is assigned to the case. 2623 N MAIN: Commences Chapter 11 Bankruptcy in New York -------------------------------------------------------- On June 5, 2026, 2623 N Main filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Eastern District of New York. According to court filings, the Debtor reports between $100,001 and $1 million in debt owed to approximately 1 to 49 creditors. A meeting of creditors filed by the Office of the United States Trustee under Section 341(a) to be held on July 10, 2026 at 09:15 AM at USA Toll-Free (888) 330-1716, USA Caller Paid/International Toll (713) 353-7024, Access Code 818561. About 2623 N Main 2623 N Main is a business entity that appears to be associated with the ownership, management, or operation of real estate and related assets. 2623 N Main sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-42786) on June 5, 2026. In its petition, the Debtor reported estimated assets ranging from $100,001 to $1 million and estimated liabilities ranging from $100,001 to $1 million. Honorable Bankruptcy Judge Elizabeth S. Stong handles the case. 34 PLEASANT PLACE: Case Summary & Six Unsecured Creditors --------------------------------------------------------- Debtor: 34 Pleasant Place Corp. 14605 Union TPKE Flushing, NY 11367 Business Description: 34 Pleasant Place Corp. is a real estate company whose principal asset is a two-family residential property at 34 Pleasant Place in Brooklyn, New York, with one of the units currently occupied. Chapter 11 Petition Date: June 4, 2026 Court: United States Bankruptcy Court Eastern District of New York Case No.: 26-42759 Judge: Hon. Elizabeth S. Stong Debtor's Counsel: Charles Wertman, Esq. LAW OFFICES OF CHARLES WERTMAN, P.C. 100 Merrick Road, Suite #304W Rockville Centre, NY 11570 Tel: (516) 284-0900 E-mail: charles@cwertmanlaw.com Total Assets: $800,000 Total Liabilities: $1,170,000 The petition was signed by Shahab Berokhim as president. A full-text copy of the petition, which includes a list of the Debtor's six unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/TYILDUI/34_PLEASANT_PLACE_CORP__nyebke-26-42759__0001.0.pdf?mcid=tGE4TAMA 540 THEODORE: Starts Chapter 11 Bankruptcy in New York ------------------------------------------------------ On June 5, 2026, 540 Theodore LLC filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Eastern District of New York. According to court filings, the Debtor reports between $100,001 and $1 million in debt owed to approximately 1 to 49 creditors. A meeting of creditors filed by the Office of the United States Trustee under Section 341(a) to be held on July 10, 2026 at 09:15 AM at USA Toll-Free (888) 330-1716, USA Caller Paid/International Toll (713) 353-7024, Access Code 8185618. About 540 Theodore LLC 540 Theodore LLC is a limited liability company associated with real estate ownership, property management, and related investment activities. 540 Theodore LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-42790) on June 5, 2026. In its petition, the Debtor reported estimated assets of $100,001 to $1 million and estimated liabilities of $100,001 to $1 million. Honorable Bankruptcy Judge Elizabeth S. Stong handles the case. 599 LIBERTY: To Sell Brooklyn Property to Aaron Stark for $490K --------------------------------------------------------------- 599 Liberty Avenue, LLC seeks approval from the U.S. Bankruptcy Court for the Eastern District of New York, to sell Property, free and clear of liens, claims, interests, and encumbrances. The Debtor's Property is located at 599 Liberty Avenue, Brooklyn, New York. The lienholder of the Property is JY In Stencil L.P. Bank. The Secured Creditor will be paid 100% of the debt owed to it that is an allowed claim, as a condition of the 363 order. All other allowed claims and administrative expenses will be required to be reserved or paid as a condition of the 363 order. There is no official or unofficial unsecured creditor' committee. The Debtor receives an offer from Aaron Stark, or his assigns for the purchase price of $490,000. The Purchaser is not affiliated with the Debtor; however, they have worked together in conjunction with the sale especially in light of the fact that there is no broker. The Debtor has determined in its business judgment that the sale price of $4900,000 is sufficient to pay all the allowed claims of the Debtor and should be consummated. The Debtor is selling the Property in a private sale as opposed to an auction which is usually the preferable method of sale in bankruptcy. The Debtor contends that in its business judgment the Property is being sold for a sufficient price and that all debts of the Debtor will be paid or reserved for upon sale. About 599 Liberty Ave, LLC 599 Liberty Ave LLC is a privately held real estate company engaged in the ownership, leasing, and management of commercial and residential properties. 599 Liberty Ave LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.Y. Case No. 26-41070) on March 5, 2026. In its petition, the Debtor reports estimated assets between $100,001 and $1,000,000 and estimated liabilities in the same range. Honorable Bankruptcy Judge Jil Mazer-Marino handles the case. The Debtor is represented by H. Bruce Bronson, Esq., of Bronson Law Offices PC.About 599 Liberty Ave, LLC 915 HICKORY: Initiates Chapter 11 Bankruptcy in New York -------------------------------------------------------- On June 5, 2026, 915 Hickory LLC filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Eastern District of New York. According to court filings, the Debtor reports between $100,001 and $1 million in debt owed to approximately 1 to 49 creditors. A meeting of creditors filed by the Office of the United States Trustee under Section 341(a) to be held on July 10, 2026 at 09:15 AM at USA Toll-Free (888) 330-1716, USA Caller Paid/International Toll (713) 353-7024, Access Code 8185618. About 915 Hickory LLC 915 Hickory LLC is a limited liability company that appears to be involved in real estate ownership, property management, or related investment activities. 915 Hickory LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-42785) on June 5, 2026. In its petition, the Debtor reported estimated assets ranging from $100,001 to $1 million and estimated liabilities ranging from $100,001 to $1 million. Honorable Bankruptcy Judge Elizabeth S. Stong handles the case. 931 PROVIDENCE: Starts Chapter 11 Bankruptcy in New York -------------------------------------------------------- On June 5, 2026, 931 Providence LLC filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Eastern District of New York. According to court filings, the Debtor reports between $100,001 and $1 million in debt owed to approximately 1 to 49 creditors. A meeting of creditors filed by the Office of the United States Trustee under Section 341(a) to be held on July 10, 2026 at 09:15 AM at USA Toll-Free (888) 330-1716, USA Caller Paid/International Toll (713) 353-7024, Access Code 8185618. About 931 Providence LLC 931 Providence LLC is a limited liability company engaged in real estate ownership, property management, and related investment activities. 931 Providence LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-42772) on June 5, 2026. In its petition, the Debtor reported estimated assets ranging from $100,001 to $1 million and estimated liabilities ranging from $100,001 to $1 million. Honorable Bankruptcy Judge Elizabeth S. Stong handles the case. A2Z FIELD: Gets Final OK to Use Cash Collateral ----------------------------------------------- The U.S. Bankruptcy Court for the Southern District of Ohio entered a final order authorizing A2Z Field Services, LLC to use cash collateral during its Subchapter V Chapter 11 case. Under the final order, the Debtor is authorized to use cash collateral for payroll, taxes, utilities, necessary supplies and services, ordinary business expenses, professional fees, and other costs associated with administering the Chapter 11 case. All cash collateral received after the petition date must be deposited into the debtor-in-possession account. The Debtor may spend funds in accordance with an approved budget, with flexibility to exceed individual budget line items by up to 10%. The authorization remains in effect until further order of the court, and the Debtor must continue filing required financial reports with the U.S. Trustee. As adequate protection, On Deck Capital and other lien claimants retain and receive replacement liens on post-petition inventory, general intangibles, revenues, collections, and related proceeds to the extent they establish valid prepetition security interests and suffer any diminution in collateral value. These replacement liens relate back to the petition date and are subordinate to allowed professional fees, statutory U.S. Trustee fees, court fees, and the fees of the Subchapter V trustee. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/MZd33 from PacerMonitor.com. About A2Z Field Services LLC A2Z Field Services, LLC is a women-owned nationwide field service company headquartered in Plain City, Ohio. The company provides property inspection, preservation, REO, rehab and repair, rental property servicing, borrower contact, eviction, utility, HOA, VPR management, and registration and administrative services. It serves loan servicers, property owners, asset managers, and government agencies with property servicing needs. A2Z filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. S.D. Ohio Case No. 26-52098) on May 1, 2026, with $100,000 to $500,000 in assets and $1 million to $10 million in liabilities. Amie Sparks, managing member, signed the petition. Judge Mina Nami Khorrami presides over the case. Eric R. Neuman, Esq., at Diller and Rice, LLC represents the Debtor as legal counsel. ACPRODUCTS HOLDINGS: S&P Assigns 'CCC+' ICR, Outlook Negative ------------------------------------------------------------- S&P Global Ratings assigned its 'CCC+' issuer credit rating (ICR) to ACProducts Holdings, Inc. to reflect the completion of the distressed exchange transaction. The outlook is negative. At the same time, S&P assigned its 'B' issue-level rating and '1' recovery rating to ACProducts Holdings, Inc.'s $100 million new super senior first-lien, first-out new money term loan due November 2031, a 'CCC+' issue-level rating and '3' recovery rating to its $1.29 billion new first-lien, second-out term loan due November 2031, and a 'CCC-' issue-level rating and '6' recovery rating to its $494.7 million first-lien, third-out notes due May 2032. S&P said, "The negative outlook reflects our view that soft demand for cabinet and cost headwinds will continue to pressure operating performance, which would result in an unsustainable capital structure, absent profitability improving. "We also rectified errors in how we've been referring to or reflecting various entities within the company's organizational structure. "After the exchange, our 'CCC+' ICR will be attached to ACProducts Holdings, Inc. To that end, we raised the ratings to 'CCC+' from 'SD' (selective default) with a negative outlook and subsequently withdrawing our ICR on Cabinetworks Group, Inc., which has no outstanding debt. "We have completed our review of U.S.-based cabinetmaker ACProducts Holdings, Inc. (owner of Cabinetworks Group, Inc., an entity we previously referred to incorrectly as ACProducts, Inc.) after it completed a series of distressed exchange transactions with its existing term loan lenders and unsecured noteholders to restructure its outstanding debt. "We assigned our 'CCC+' rating to ACProducts Holdings, Inc. and issue-level and recovery ratings to its debt. The 'CCC+' ICR reflects completed exchanges we deemed distressed on the secured and unsecured debt. The company exchanged its $1.334 billion first-lien term loan due May 2028 and over 99% of its $498.5 million 6.375% unsecured notes due May 2029 for a $1.289 billion new first-lien, second-out term loan due November 2031 (rated 'CCC+' with a recovery rating of '3') and a $494.7 million first-lien, third-out note tranche due May 2032 (rated 'CCC-' with a recovery rating of '6'), respectively. We also assigned a 'B' issue-level rating and a '1' recovery rating to the company's $100 million new super senior first-lien, first-out new money term loan due November 2031. "We are correcting how we have referred to various entities within the company's organizational structure. Since April 2021, we've incorrectly identified Victors Intermediate Holding II Corp. as the issuer of the debt in the capital structure instead of ACProducts Holdings, Inc. As part of our corrective rating actions, we withdrew all issue-level and recovery ratings relating to Victors Intermediate Holding II Corp. and have assigned issue-level and recovery ratings to ACProducts Holdings, Inc.'s post-exchange term loans. Our previous publications reflected an entity called AC Products, Inc., to which our ICR was previously attached. We have since learned that ACProducts, Inc. changed its name to Cabinetworks Group, Inc. in June 2022. Going forward, we will refer to Cabinetworks Group, Inc. instead of ACProducts, Inc. "We are withdrawing our ICR on Cabinetworks Group, Inc. Following the exchange, our 'CCC+' ICR will be attached to ACProducts Holdings, Inc. To that end, we raised the rating to 'CCC+' from 'SD' with a negative outlook, then withdrew our rating on Cabinetworks Group, Inc., which has no outstanding debt. "We expect S&P Global Ratings-adjusted leverage to remain above 9x for 2026. The company reported negative sales growth of 5.1% for the first three quarters of 2026 compared to the same period in 2025, as end market demand for the company's products remains soft, partially offset by tariff pricing surcharges that the company has implemented. We believe end market demand will remain pressured over the next few quarters, which will hinder earnings generation, causing leverage to remain elevated. "The negative outlook reflects our view that lower overall cabinet demand, coupled with cost headwinds, will cause S&P Global Ratings-adjusted debt leverage to remain above 9x and EBITDA interest coverage to fall closer to 1x over the next 12 months. Given the pressure on ACProducts Holdings, Inc.'s credit metrics due to its weaker profitability and higher financing costs, we believe its current capital structure may be unsustainable, absent a significant recovery in its profitability." S&P could lower the rating on the company over the next 12 months if: -- S&P envisions a default or distressed exchange in the next 12 months; -- The company breaches any of its financial covenants; or -- Liquidity weakens, driven by FOCF deficits or reduced access to its revolving credit facilities. S&P could revise its outlook on ACProducts Holdings, Inc. to stable if its demand improves and cost headwinds decrease such that its leverage falls to 8x and its EBITDA interest coverage improves to 1.5x on a sustained basis, and the company generates positive free operating cash flow. AIBH GROUP: Tamara Miles Ogier Named Subchapter V Trustee --------------------------------------------------------- The Acting U.S. Trustee for Region 21 appointed Tamara Miles Ogier, Esq., at Ogier, Rothschild & Rosenfeld, PC as Subchapter V trustee for AIBH Group, Inc. Ms. Ogier will be paid an hourly fee of $475 for her services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Ms. Ogier declared that she is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Tamara Miles Ogier, Esq. Ogier, Rothschild & Rosenfeld, PC P.O. Box 1547 Decatur, GA 30031 Phone: (404) 525-4000 About AIBH Group Inc. AIBH Group, Inc., doing business as SuperiorPRO, is a Kennesaw, Georgia-based residential exterior renovation contractor that provides windows, siding, doors, painting, roofing, gutters and stucco services to homeowners in metro Atlanta. The company, which has operated since 1998, serves residential customers in Atlanta, Kennesaw, Marietta and surrounding Georgia communities. AIBH Group sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ga. Case No. 26-57250) on June 1, 2026, with up to $50,000 in assets and $1 million to $10 million in liabilities. Leslie M. Pineyro, Esq., at Jones And Walden, LLC represents the Debtor as legal counsel. ALL REAL SERVICES: Gets Final Court Nod to Use Cash Collateral -------------------------------------------------------------- The U.S. Bankruptcy Court for the District of New Jersey entered a final order granting All Real Services, LLC continued access to cash collateral and proceeds from an insurance claim. The insurance claim was filed by the Debtor relating to flood damage to its property -- a mixed-use building in Plainfield, New Jersey -- and based on that claim, secured creditor Silver Hill Capital, LLC holds the sum of $194,977.04. Under the final order, the Debtor is authorized to use the cash collateral and the insurance proceeds in accordance with its budget. As adequate protection, Silver Hill Capital will be granted a replacement lien on post-petition rents to the same extent as its pre-bankruptcy lien and will continue to receive a monthly payment of $3,511. The order preserves all rights and defenses of both the debtor and Silver Hill Capital regarding plan confirmation, disclosure statement approval, stay relief motions, ownership of rents and insurance proceeds, claim disputes, and other contested issues. The order does not determine ownership of insurance proceeds, approve the debtor's Chapter 11 plan, allow any claims, or waive any rights, and it remains effective unless modified by the court, confirmed through a plan, or terminated through case dismissal or conversion. A copy of the court's order is available at https://shorturl.at/1bOSC from PacerMonitor.com. About All Real Services LLC All Real Services, LLC filed a Chapter 11 bankruptcy petition (Bankr. D.N.J. Case No. 25-19988) on Sept. 24, 2025. In the petition signed by Jevon L. O'Neal, member, the Debtor disclosed up to $500,000 in assets and up to $1 million in liabilities. Judge Stacey L. Meisel oversees the case. The Debtor hires Gillman Capone LLC as counsel. ALLEGIANT TRAVEL: S&P Rates New $500MM Senior Secured Notes 'BB' ---------------------------------------------------------------- S&P Global Ratings assigned its 'BB' issue-level rating and '1' recovery rating to U.S.-based leisure travel company Allegiant Travel Co.'s proposed $500 million senior secured notes due 2031. The '1' recovery rating indicates its expectation of very high (90%-100%; rounded estimate: 95%) recovery in the event of a default. The company intends to use proceeds from these notes to refinance its existing senior secured notes due 2027, as well as for general corporate purposes. The proposed notes will be secured with a first lien on all of the assets of the issuer and guarantors, other than aircraft, engines, and real estate. The facility will be guaranteed by all of Allegiant Travel Co.'s subsidiaries (including Sun Country). While the terms are largely unchanged compared to the existing notes, the proposed notes are rated one-notch higher due to the considerable amount of asset value added over the past 12 months (primarily equity in aircraft-owning subsidiaries, which is pledged as collateral), including the addition of Sun Country collateral. S&P said, "Our 'B+' issuer credit rating on Allegiant is unchanged and continues to reflect its relatively small scale in the U.S. airline industry and low operating cost structure. Allegiant completed its acquisition of Sun Country on May 13, 2026. We estimate pro forma S&P EBITDA margins of about 16% for the combined company for the 12 months ended March 31, 2026, with adjusted funds from operations (FFO) to debt in the high-teens percentage area. "We now expect weaker metrics this year, primarily due to elevated fuel costs as a result of the Middle East war. Additionally, Sun Country margins will be impacted by recent expansion of its cargo business and lower-than-previously planned growth of its passenger service capacity in the second half in response to fuel costs. We project adjusted FFO to debt to be about 10% this year, below our 12% downside threshold. However, our outlook remains stable. We expect fuel prices to moderate toward the end of this year, coupled with a strong demand environment, allowing metrics to recover to levels commensurate with our rating in 2027." Issue Ratings--Recovery Analysis Key analytical factors -- We assign a 'BB' issue-level rating on the company's proposed $500 million senior secured notes due 2031. This is based on a '1' recovery rating that indicates our expectation of very high (90%-100%; rounded estimate: 95%) recovery in the event of a default. -- The senior secured notes are secured with a first lien on all the assets of the borrower and its restricted subsidiaries other than aircraft and spare engines. The notes also benefit from equity in aircraft-owning subsidiaries, which is pledged as collateral (i.e. from subsidiaries owning pledged aircraft after satisfying aircraft-secured debt, as well as those owning unpledged aircraft). -- In addition, the senior secured notes are guaranteed by all existing and domestic wholly-owned subsidiaries of Allegiant (including Sun Country). Simulated default assumptions -- Year of default: 2030 -- S&P's simulated default assumes Allegiant would not reorganize in bankruptcy and instead be liquidated. -- S&P's valuations reflect our estimate of the value of various assets at default based on net book value for current assets and market appraisals for aircraft as adjusted for expected realization rates in a distressed scenario. Simplified waterfall -- Net recovery value (after 5% administrative expenses): $2.1 billion -- Valuation split (obligors/nonobligors): 48%/52% -- Value distributed to aircraft secured claims (including Sun Country's enhanced equipment trust certificates): $1.1 billion -- Value available to senior secured, non-aircraft claims: $1.2 billion -- Estimated senior secured claims (revolver, proposed notes): $650 million --Recovery expectations: 90%-100% (rounded estimate: 95%) Notes: Debt amounts include six months of accrued interest that we assume will be owed at default. ALLSTAR PROPERTIES: To Sell Georgia Properties to C. & A. Culver ---------------------------------------------------------------- Allstar Properties I, LLC (ASPI) seeks permission from the U.S. Bankruptcy Court for the Northern District of Georgia, Rome Division, to sell Property, free and clear of liens, claims, interests, and encumbrances. The Debtor is Georgia limited liability company. ASPI owns certain commercial properties that it rents to business tenants throughout the northwest corner of the State of Georgia, in Floyd, Haralson and/or Polk Counties (Commercial Properties). Where applicable, ASPI collects rent on the Commercial Properties. ASPI has stated an intention to sell its real property holdings in order to pay its debts including prior to the filing of a Chapter 11 plan. The Debtor employs Toles, Temple & Wright, Inc. (TTW) as broker to sell a parcel of real property located at 202 N. Marble Street, Rockmart, GA and related to other undisclosed parcels of real property, once proper notice and an opportunity to object was provided to United States Trustee and applicable secured lenders. On May 7, 2026, ASPI's counsel provided notice to the United States Trustee and counsel for Red Hills Holdings, LLC, as assignee of Synovus Bank (Red Hills), secured creditor, that it intended to employ TTW related to the marketing and sale of 127 N. Marble St (Polk R12-109), 233 N. Marble St (Polk R16-015), and 237 N. Marble St (Polk R16- 014), Rockmart, Georgia, which collectively form an urban park area (Property). No party objected to the retention of TTW to market and sell the Property, within the 10 day objection period. TTW proceeded to market the Property and, on June 5, 2026, ASPI, as the seller, CBRE, as the broker for ASPI, and Chris and Amanda Culver, as the purchaser, entered into that certain Land Purchase and Sale Agreement, to purchase the Property for $75,000. As a matter of disclosure, TTW has agreed to split its commission with Buyer's agent, EXP Realty, LLC (Brokers – Kimberly Smith and Casey Middleton), which will receive 2.25% of the 5% commission owed to TTW. The Property secures an approximate $1,300,000 debt to Red Hills. TTW is to receive a 5% commission on the gross sale amount of the Property, to be paid at closing. No other closing costs, other than possible nominal amounts, are anticipated to be paid out of ASPI’s portion of the sale proceeds. ASPI believes that the Proceeds constitute fair market value for the Property and will maximize value to the Estate. ASPI request that the Court authorize the sale of the Property to Buyer free and clear of all liens, with any valid liens, attaching to the sale proceeds, such liens valid and effective against only said proceeds. ASPI submits that the sale to Buyer, which is an arms-length transaction between unrelated parties, is reasonable and appropriate, and designed to insure fairness. About Allstar Properties LLC Allstar Properties LLC and affiliates are Georgia-based real estate companies that hold and manage property assets. The Allstar entities focus on property ownership, while ACH Rental Properties provides property management and rental services. Collectively, they operate within the real estate sector across residential and nonresidential properties in the state. Allstar Properties LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ga. Case No. 25-41314) on August 31, 2025. In its petition, the Debtor reports estimated assets and liabilities between $10 million and $50 million each. Honorable Bankruptcy Judge Barbara Ellis-Monro handles the case. The Debtor is represented by Anna Humnicky, Esq. at SMALL HERRIN, LLP. ALLSTAR PROPERTIES: To Sell Rome Property to Bryan Freeman ---------------------------------------------------------- Allstar Properties I, LLC (ASPI) seeks permission from the U.S. Bankruptcy Court for the Northern District of Georgia, Rome Division, to sell Property, free and clear of liens, claims, interests, and encumbrances. The Debtor is Georgia limited liability company. ASPI owns certain commercial properties that it rents to business tenants throughout the northwest corner of the State of Georgia, in Floyd, Haralson and/or Polk Counties (Commercial Properties). Where applicable, ASPI collects rent on the Commercial Properties. ASPI has stated an intention to sell its real property holdings in order to pay its debts including prior to the filing of a Chapter 11 plan. The Debtor employs CBRE, Inc. (CBRE) as its broker to sell various parcels of real property including the marketing of additional properties not already listed by CBRE at the time of the Application Subsequent to the approval of the Application, ASPI retained CBRE to market 13/15 East 3rd Ave., Rome (Floyd County), GA (Property). On May 27, 2026, ASPI, CBRE, as the broker for ASPI, and Bryan Freeman or his assignee, as the purchaser, entered into that certain Commercial Purchase and Sale Agreement wherein Buyer agreed to purchase the Property for $885,000. The Buyer is the current tenant in the Property. Further, Samson Development Group, LLC, d/b/a Harvey-Given Company, ASPI's leasing agent, is the broker which the Buyer engaged related to the transaction. The Property secures an approximate $1,500,000 debt to First National Community Bank, after application of the net sales proceeds from the sale of the 989 Property by ACH. CBRE is to receive a 5% commission on the gross sale amount of the Property, to be paid at closing. The net sale proceeds from the Property shall be used to satisfy the Lien. ASPI believes that the Proceeds constitute fair market value for the Property and will maximize value to the Estate. ASPI asserts that, since the balance of the Proceeds must be paid to FNCB, notice of the closing statement, which will not be available until shortly before the projected closing date in late June, after the projected hearing date, to the US Trustee and FNCB only is necessary. ASPI submits that the sale to Buyer, which is an arms-length transaction between unrelated parties, is reasonable and appropriate, and designed to insure fairness. About Allstar Properties LLC Allstar Properties LLC and affiliates are Georgia-based real estate companies that hold and manage property assets. The Allstar entities focus on property ownership, while ACH Rental Properties provides property management and rental services. Collectively, they operate within the real estate sector across residential and nonresidential properties in the state. Allstar Properties LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ga. Case No. 25-41314) on August 31, 2025. In its petition, the Debtor reports estimated assets and liabilities between $10 million and $50 million each. Honorable Bankruptcy Judge Barbara Ellis-Monro handles the case. The Debtor is represented by Anna Humnicky, Esq. at SMALL HERRIN, LLP. AMERICAN LOCATING: H. Faith Welch Named Subchapter V Trustee ------------------------------------------------------------ The Acting U.S. Trustee for Region 10 appointed H. Faith Welch as Subchapter V trustee for American Locating Services Inc. Ms. Welch will be paid an hourly fee of $325 for her services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Ms. Welch declared that she is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: H. Faith Welch 444 E. Main St. Fort Wayne, IN 46802 Telephone: (260) 399-1578 Email: fwelch@hallercolvin.com About American Locating Services Inc. American Locating Services, Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Ind. Case No. 26-03480) on May 29, 2026, with $100,001 to $500,000 in assets and $500,001 to $1 million in liabilities. Judge James M. Carr presides over the case. KC Cohen, Esq., at Kc Cohen, Lawyer, PC represents the Debtor as legal counsel. APPLIED COMPUTECO 3: S&P Assigns 'B+' LT ICR, Outlook Positive -------------------------------------------------------------- S&P Global Ratings assigned its 'B+' long-term issuer credit rating (ICR) to Applied Compute Co3 LLC (APLD Co3) and its 'BB-' issue-level rating to the company's proposed senior secured notes. The recovery rating is '2', which indicates the likelihood of substantial recovery in a default event. APLD Co3 is raising $1.59 billion in senior secured notes. It will use the proceeds to partially fund the construction of a data center (ELN-04) in North Dakota with a critical IT capacity of 150 megawatts (MW). The facility is being constructed under a guaranteed maximum price (GMP) framework, with six data halls (25 MW each) expected to come online between January 2027 and June 2027. The capital cost is in line with industry ranges at about $12.8 million/MW. S&P understands that the site is power-ready, with no material development or construction activity required to achieve energization. The company's parent, Applied Digital Corp. (APLD; B+/Positive), is also providing a guaranty to ensure there is adequate funding to complete construction. During operations, S&P assesses the company's business risk as satisfactory, albeit at the lower end of that range, largely because of its high earnings and cash-flow visibility under a 15-year lease with CoreWeave Inc. (CoreWeave). This could be enhanced by a reassignment of the lease to a not-yet-formed CoreWeave subsidiary if that subsidiary achieves an investment-grade credit rating (similar to ELN-2 and ELN-3), robust net operating income (NOI) margins, and access to a termination fee that covers 100% of future contractual revenues if CoreWeave terminates the lease for convenience. However, these positive factors are offset by the speculative-grade rating on the company's sole tenant, exposure to single-asset risk, and a location outside of top-tier markets. S&P said, "We assess APLD Co3's financial risk profile as highly leveraged based on our expectation of funds from operations (FFO) to debt of around 6% in 2028 (the first full year of operations), rising to about 7% in 2029 and 8.5% in 2030. We expect EBITDA interest coverage of about 1.7x-2.0x during that time. "The positive outlook reflects the outlook on the company's parent, Applied Digital Corp. While we expect construction completion per the timelines envisioned, the post-construction stand-alone credit profile (SACP) of APLD Co3 is 'b+'." The long-term lease structure supports earnings and cash flow for over a decade. ELN-04 has pre-leased all its capacity (150 MW) with CoreWeave under a 15-year lease. There are also three five-year extension options that can be exercised at the discretion of the tenant. A 3% annual escalator and a modified gross-lease structure with power costs as a direct tenant expense allow for stable and predictable revenue, earnings, and cash flow. Consistent with other gross-modified leases, operating costs, insurance expenses, and property taxes are the responsibility of the landlord (ELN-04). S&P said, "However, relative to the size of the contracted rent payments over the life of the lease, we expect these expenses to be more than adequately covered. Under our forecast modeling, which closely mimics the company's projections (given the contractual nature of the asset), we expect robust NOI margins of 90%." In addition, because the rent has an annual fixed escalator, there is potential for the margins to expand further if APLD can efficiently operate the asset and costs don't rise commensurately with the step-up in rent over the life of the lease. During the lease period, CoreWeave can terminate the lease for convenience. However, it's obligated to pay a termination fee equivalent to the remaining base rent lease payments and taxes. Though we consider this scenario unlikely at this stage given CoreWeave's partnership with Meta Platforms Inc. (Meta) to provide AI cloud capacity, if it were to happen, S&P expects the termination payment to fully cover the debt outstanding at that time. S&P said, "Exposure to a single, speculative-grade tenant remains the key risk despite the highly predictable cash flow. CoreWeave is rated 'B+' (with a positive outlook), which we view as a proxy for the company's financial capacity to service its lease obligations. Although we consider this level of concentration to be a key risk, our base case assumes CoreWeave's business model is supported by its growing role serving leading AI players such as Microsoft (currently its largest customer), OpenAI, and Meta as well as by the symbiotic relationship CoreWeave enjoys with NVIDIA, its sole chip supplier. "At this time, we expect that CoreWeave will meet its lease obligations for the foreseeable future. Still, given that its customer contracts are shorter than its lease commitments to APLD Co3 (and various other data centers), it could be challenging for CoreWeave to honor these lease obligations in an environment where the demand for AI services is lower than expected and the industry is facing excess infrastructure supply relative to demand. In assessing the impact of this risk, we also consider ELN-04's location outside of tier-one markets." While North Dakota offers certain advantages--such as an abundance of land, access to comparatively low-cost power, and cooling efficiency due to weather conditions--it doesn't benefit from being a highly concentrated data center market at this stage. This could limit its marketability to alternative tenants if CoreWeave was unable to meet its financial obligations under the lease. The lease is likely to be enhanced over the medium term. Applied Digital also entered into a memorandum of understanding with CoreWeave on June 5, 2026, to assign the lease with CoreWeave for ELN-4 to a CoreWeave subsidiary if that subsidiary achieves an investment-grade credit rating. If executed, this would mirror ELN-2 and ELN-3 on the same campus, whereby the lease resides at a special-purpose vehicle (SPV) of CoreWeave. The SPV isolates the cash flows from specific six-year signed contracts with a hyperscaler to house chips in the Ellendale data center, whereby the SPV's operating expenses (lease payments to APLD) are prioritized. S&P would view this as a lease enhancement over the life of the contract, but not akin to a direct lease with an investment-grade tenant. It's also understanding that the compute contracts via which this SPV structure will receive revenue from a hyperscaler are shorter (typically five to six years) than the assigned lease obligations of the SPV, which will be 15 years in ELN-04's case. The data center is designed for high performance compute to support AI requirements. This site is designed with N+1 systems redundancy, in line with industry standards and approximating a Tier III design, or minimum 99.99% guaranteed uptime. This ensures concurrent maintainability while providing full operational capacity during maintenance single-failure conditions, which would include 48 hours of on-site backup fuel supply for diesel power generators. S&P understands that the target average annual power-usage efficiency (PUE) ratio to be around 1.20, which allows for efficient operations, mostly allocated to run IT equipment. This is at the stronger end of the industry norm and somewhat lower than that of peers farther south to account for colder temperatures in North Dakota. The building will utilize closed-loop liquid cooling, minimizing water usage, and in line with industry standards for power-hungry AI workloads. There are provisions for lease termination if the facility underperforms against established operational benchmarks. While S&P views this risk as low, rent credits are possible. CoreWeave has the right to terminate the applicable data hall lease that is interrupted by a service failure--with no early termination fees under the following conditions: -- Chronic outage: Occurrence of three or more separate and independent (meaning they occur from separate and unrelated root causes) outages of landlord-provided essential services (electricity, temperature, humidity) of the same type, with a total duration of six hours of more in any lease year; or -- Continuous outage: Continuous outage of landlord-provided essential services that continues for 15 days or more in any lease year. Events qualifying as service failures include: -- Power interruptions that exceed six minutes in any given month; -- Temperature falling outside a certain range for more than 60 consecutive minutes; and -- Humidity under certain thresholds. S&P views the risk of a breach of the service-level agreement (SLA) that would allow for lease termination as low. The building design, with N+1 redundancy, typically provides for very limited annual downtime. Dual sensors with automatic failover and gradual adjustment controls mitigate humidity variations and cooling system redundancy for air temperature. In addition, the termination right is only available to an affected data hall, which are broken into 25-MW segments. However, there is a possibility of monthly service credits. These credits are applicable to the affected rack or row level and not the entire data hall, the landlord's responsibilities on electricity, temperature, and humidity, as well as the level of applicable revenue credits do not exceed industry standards. Furthermore, downtime credits cannot exceed more than 100% of monthly base rent, and therefore we view the risk as manageable. CoreWeave has the right to terminate the lease if construction is delayed past a certain point. CoreWeave can terminate the lease if Phase 1 (data halls 1-3) does not achieve lease commencement conditions by July 29, 2027. Their target commencement dates are between Jan. 30, 2027, and March 30, 2027, giving the data halls about 90-180 days of cushion. S&P said, "We believe the buffer is modestly tighter than those of several comparable projects, especially considering the remote location of the site, which could pose unique challenges (such as resource availability, suboptimal weather conditions, etc.). While this exposes ELN-4 to revenue risk in the event of a prolonged construction delay, we also think that probability of a termination could be low considering there might not be readily available alternatives to move into the supply-constrained environment." Still, there are no substitutes for the protections of contractual certainty, particularly if delivery is past termination-option dates. APLD is fully exposed to changes in market as well as offtaker-specific demands, renegotiation of terms, and cancellation in a prolonged construction delay. S&P said, "We believe construction risk is low. Our 'b+' construction phase rating is constrained by the rating on APLD given its role in the construction process as well as the completion guaranty. ELN-04 is being built under a GMP framework, in which we would expect a reasonably high amount of cost certainty, at least with respect to the general contractor's costs. GMP, which has been established, represents about $1.038 billion (about 54% of the total development cost)." Other material costs include electrical ($415 million) and mechanical ($235 million) equipment. Capital costs of about $12.8 million/MW is also in line with industry standards. The project budget includes a total contingency of about $79 million, of which $49 million is with the general contractor and about $30 million is owner's contingency. S&P said, "We believe the embedded contingency provides reasonable cushion if there was an unexpected and unmitigated cost increase. Orders have been placed for all long-lead items, including electrical equipment, which should also facilitate keeping costs within the defined budget. We also understand that the site is power ready and ELN-04 will receive 180 MW of power via an electricity supply agreement with Montana-Dakota Utilities Co. APLD intends to move the power from a currently operational bitcoin mining facility to ELN-4." However, target ready for service (RFS) dates for the individual data halls are 0-8 days from the target lease commencement dates. In a scenario where the commencement of the data halls is delayed, ELN-04 could owe rent credits to CoreWeave, if unmitigated. APLD is also responsible for Level 4 and 5 commissioning, a strategy it has followed in its other data center buildings. The company's track record and experience is reasonable, as it has successfully brought online 100 MW of capacity at ELN-02, two months ahead of the RFS dates, with another 150 MW at ELN-03 targeted for completion soon. S&P said, "We view APLD Co3 as a core and insulated subsidiary of APLD. This is due to the strategic importance of ELN-04 to APLD's overall identity. We believe that there are reputational incentives for financial support given the company's growth ambitions, which will require additional partnerships and access to affordable capital. Finally, there is a contractual obligation to support during construction by providing necessary shortfall in funds required for project completion. In addition, APLD is also guaranteeing ELN-04's obligations under the CoreWeave lease, which further demonstrates its long-term financial commitment to the asset. We therefore align the ratings on ALD Co3 to that on APLD to reflect the likelihood of and reliance on support during construction and beyond, if necessary." In addition to the core group status, S&P considers APLD Co3 as an insulated subsidiary of APLD after operations start. This is because there are structural protections in place via the debt covenant package at APLD Co3 that would limit APLD's ability to extract resources from the asset. APLD Co3 is expected to hold itself out as a separate entity, its financial performance and funding are highly independent from the group, there is no significant operational dependence on other group entities, and it maintains its own records and funding arrangements and does not commingle funds, assets, or cash flow. Lease payments flow into a lockbox account controlled by the collateral agent and are distributed through a waterfall that prioritizes payment of operating expenses, mandatory debt amortization, interest expense, and funding of the debt service reserve account (if necessary) ahead of any distributions. In addition, certain permitted additional debt baskets are also subject to rating agency affirmation requirements, which should limit future re-leveraging. As a result of these attributes, S&P could rate APLD Co3 a notch higher than APLD if its SACP were stronger than the parent (which is not currently the case). S&P said, "We view APLD ComputeCo as the closest peer. Their business risk profiles are almost identical. However, the financial profile of APLD Co3 is modestly weaker, with debt to EBITDA about 0.6x higher, FFO to debt about 200 basis points lower, and EBITDA interest coverage about 0.4x lower in the first full-year of operations. Therefore, the post-construction SACP of APLD ComputeCo (ELN-2 and ELN-3) is likely a notch higher. "Our analysis integrates our digital infrastructure methodology with our project finance criteria. We use a ratings-to-principles criteria approach to rate this transaction, reflecting the presence of characteristics from both frameworks. The borrower is undergoing material construction activities and benefits from certain typical project finance features, including a first-lien security on assets, contracts, and cash flows, as well as a waterfall to ensure prioritization of debt service on the proposed financings. However, eligibility requirements and covenants around new developments are not sufficiently restrictive, based on our assessment, to constrain credit risk to the level contemplated under our project finance methodology. "We therefore assess the construction-phase SACP using project finance methodology and then apply our digital infrastructure corporate methodology to establish the post-construction SACP. The weaker of these two SACPs is ultimately selected as our final SACP during construction. We then apply our group rating methodology to incorporate the impact that the parent, APLD, has on the ICR of the subsidiaries." This approach led to the following outcomes: -- A post-construction (or operations phase) SACP of 'b+' for APLD Co3, which is a function of its satisfactory business risk and highly leveraged financial risk profile. -- A construction phase SACP of 'b+', which was capped by the rating on APLD because of its role in the construction process as well as reliance on completion funding under a construction stress scenario. -- The positive outlook reflects the outlook on the company's parent, APLD, and S&P's expectation of successful construction completion and robust operations. S&P said, "We would revise the outlook to stable if the outlook on the company's parent, APLD, is revised to stable. We could lower the rating if the construction process becomes challenged due to delays and overruns, and despite APLD's efforts to complete the project, there is an increasing probability of the tenant terminating its lease agreement. Under such a scenario, we would also expect deteriorating credit metrics and very limited financial support from APLD during the company's operations, such that we believe that it is no longer of strategic value to the parent. "We will lower the SACP if we believe that the FFO/debt and EBITDA interest coverage was lower than 5% and 1.75x, respectively. "We will raise the rating on APLD Co3 if its parent, APLD, is upgraded. For APLD, this will be largely dependent on financing mix and construction risk of new projects, but leverage has been increasing. We would also consider a positive rating action if the stand-alone FFO to debt and EBITDA interest coverage were above 9% and 1.75x, respectively, on a sustained basis, which is above our base-case expectations in the first years of operations. Given the 'b+' SACP in operations, successful completion of construction wouldn't be sufficient for an upgrade." ARTISTIC HOLIDAY: Gets Extension to Access Cash Collateral ---------------------------------------------------------- Artistic Holiday Designs, LLC and Holiday Creations Pro, Inc. received another extension from the U.S. Bankruptcy Court for the Middle District of Florida, Fort Myers Division, to use cash collateral. The court issued its 10th interim order authorizing the Debtors to use cash collateral to pay ordinary business expenses as set forth in their budget, subject to a 10% variance per line item. MEP Capital Holdings III, L.P. asserts interest in the cash collateral, which consists of cash and cash equivalents generated by the Debtors' operations or from the disposition of the lien claimant's pre-bankruptcy collateral. As protection, MEP and other lien claimants including B Squared, Inc., Melissa and Doug, LLC, and the U.S. Small Business Administration will be granted a replacement lien on the Debtors' post-petition assets, with the same validity and priority as their pre-bankruptcy liens. As additional protection, MEP will be granted a superpriority administrative expense claim in case of any diminution in the value of its collateral. The 10th interim order is available at https://tinyurl.com/y7at89zr from PacerMonitor.com. The next hearing is set for June 24. MEP asserts approximately $5.686 million in debt under a senior secured loan agreement dated June 15, 2022, with claimed first-priority liens on substantially all assets of the Debtors. Other lien claimants include B Squared, Inc., Melissa and Doug, LLC, and the U.S. Small Business Administration, creating a complex multi-creditor secured debt structure typical of seasonal retail businesses requiring diverse financing sources. About Artistic Holiday Designs Artistic Holiday Designs, LLC filed Chapter 11 petition (Bankr. M.D. Fla. Case No. 25-00153) on January 29, 2025. listing up to $10 million in assets and up to $50 million in liabilities. Derek Norwood, managing member, signed the petition. Judge Caryl E. Delano oversees the case. Michael Dal Lago, Esq., at Dal Lago Law, represents the Debtor as legal counsel. MEP Capital Holdings III, L.P., as secured creditor, is represented by: Luis E. Rivera II, Esq. GrayRobinson, P.A. 1404 Dean Street, Suite 300 Fort Myers, Florida 33901 Phone: 239.254.8460 luis.rivera@gray-robinson.com ATBIZ LLC: Gets Final OK to Use Cash Collateral ----------------------------------------------- The U.S. Bankruptcy Court for the Southern District of Florida, Fort Lauderdale Division issued a final order authorizing ATBIZ, LLC to use cash collateral. Under the final order, the Debtor is permitted to use cash collateral in accordance with a court-approved budget, with flexibility to exceed line items by up to 10%, and more with lender or court approval. The Debtor must also comply with all Chapter 11 obligations, maintain insurance, and pay taxes when due. TD Bank, N.A. will be granted adequate protection through monthly payments of $15,000 and a post-petition lien on receivables and inventory up to approximately $2.41 million. The Debtor must also provide monthly borrowing base reports and allow inspection of records and inventory. Additional requirements include monthly payments of $1,000 to the Subchapter V trustee, detailed reporting in operating reports, and compliance with default provisions (with a 5-day cure period). A copy of the court's order and the Debtor's budget is available at https://shorturl.at/m13Ww from PacerMonitor.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. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 26-12500) on February 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 Aaronson, Esq., at AARONSON SCHANTZ BAILEY P.A., represents the Debtor as legal counsel. AUTOLYCUS LLC: CCG Collateral Sale to PowerMove AssetCo OK'd ------------------------------------------------------------ The U.S. Bankruptcy Court for the Northern District of Illinois, Eastern Division, has permitted Autolycus LLC to sell Property, free and clear of liens, claims, interests, and encumbrances. The Debtor owns certain vehicles, together with all contracts, agreements, and other documents to which Debtor is a party that relate to such Vehicles (CCG Collateral). The Commercial Credit Group Inc. held a secured lien on the CCG Collateral. The Court has authorized the Debtor to sell the Vehicles to PowerMove AssetCo LLC (or its designee) for $1,000,000 plus Lender's expenses incurred after May 5, 2025, not to exceed $30,000, payable in cash at closing. The transfer of the Collateral to PowerMove AssetCo LLC or its designee is or shall be a legal, valid, and effective transfer of the Collateral. The Debtor is authorized to sell the Collateral free and clear of all liens, claims, and encumbrances. The sale of the Collateral to PowerMove AssetCo LLC is authorized to occur on substantially the same terms and conditions sete forth in the letter of intent between the Debtor and PowerMove AssetCo LLC. The Debtor shall sell the bankruptcy estate's interest in the Collateral to PowerMove AssetCo LLC on an "AS IS, WHERE IS" basis, free and clear of all claims. About Autolycus LLC Autolycus LLC is a truck and trailer leasing company based in Bolingbrook, Illinois. Autolycus LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 25-13696) on September 4, 2025. In its petition, the Debtor reports estimated assets between $1 million and $10 million and estimated liabilities between $10 million and $50 million. Judge David H. Decelles presides over the case. The Debtor is represented by Saulius Modestas, Esq. at Modestas Law Offices, P.C. BELDEN INC: Moody's Affirms 'Ba2' CFR, Outlook Stable ----------------------------------------------------- Moody's Ratings assigned a Ba1 rating to Belden Inc.'s (Belden) senior secured term loan B and affirmed the Ba2 corporate family rating, Ba2-PD probability of default rating, and Ba3 senior subordinate rating. The speculative grade liquidity rating of SGL-1 is unchanged. The outlook remains stable. The net proceeds of the new $1.85 billion term loan will be used to fund the acquisition of the RUCKUS Networks (Ruckus) business from Vistance Networks, Inc. Pro forma leverage is expected to increase to about 5.3x, including Moody's standard adjustments from 3x as of Q1 2026, but Moody's expects leverage to decrease below 4x by the end of 2027 from EBITDA growth in the mid-single digit range and debt repayment from free cash flow (FCF). Belden plans to temporarily suspend stock repurchases and additional M&A until leverage decrease towards the company's target net leverage of 1.5X. While the transaction leads to higher leverage and creates integration risk, the Ruckus acquisition will improve Belden's position in the Wi-Fi and switching segment and allow the company to offer a more complete IT/OT networking solution to core industrial and enterprise verticals. The purchase is also likely to support higher growth, further diversify Belden's product offering and benefit from ongoing trends including investments in manufacturing, digital computing, and physical AI. While Ruckus competes with much larger competitors, including Cisco and Huawei, the integration with Belden is likely to enhance the ability to expand in this market segment. RATINGS RATIONALE The Ba2 CFR reflects Belden's good position within segments of the enterprise and industrial cabling, connectivity, and networking product markets, which enable the company to produce healthy operating margins and FCF. The company's strategy to become a leading solutions provider has helped Belden strengthen customer relationships and led to additional sales opportunities. Prior to the Ruckus purchase, leverage had declined significantly over the past several years (6.8x leverage in 2020) driven by higher EBITDA and debt repayment. Moody's expects financial policy will be focused on reducing the senior secured term loan from FCF while driving EBITDA growth. Belden is likely to continue to benefit as AI enhanced automation expands within the manufacturing industry. The strong credit profile is tempered by sensitivity to cyclical economic conditions, including inventory destocking by distributors and original equipment manufacturers. Moody's don't expect the company to pursue additional transaction in the near term, but additional purchases may occur after leverage levels decrease toward prior levels. Acquisitions increase integration risk, but also enhance growth, diversify operations, support higher margin business lines, and expand the company's scale. Belden will also continue to invest in additional organic opportunities to drive growth. The SGL-1 rating reflects Belden's strong liquidity based on a cash balance of $272 million as of Q1 2026, access to an undrawn $400 million ABL revolving credit facility due July 2030 ($10 million in L/Cs outstanding). The revolver is periodically drawn for modest amounts to manage peak working capital needs but is quickly repaid. Free cash flow was $172 million LTM Q1 2026 after $8 million in dividends, and Moody's expects FCF will increase above $300 million in 2027. Belden spent $141 million in share buybacks as of LTM Q11 2026, but going forward Moody's expects a significant portion of FCF to be directed to the repayment of the term loan. Capex was $148 million LTM Q1 2026 and is likely to increase modestly in 2026. The ABL revolver is subjected to a springing fixed charge coverage ratio covenant of 1x, triggered when availability is less than the greater of 10% of the aggregate borrowing base and $27,000,000. For the next twelve to eighteen months, Moody's projects the company will remain in compliance with ample headroom under its covenant compliance calculation. The senior secured term loan B is rated Ba1, one level above the Ba2 corporate family rating (CFR) due to the senior secured position relative to the Ba3 rated senior subordinated debt. The capital structure also includes an ABL revolving credit facility (not rated) that is secured by the collateral supporting the borrowing base. Marketing terms for the new credit facilities (final terms may differ materially) include the following: Incremental pari passu debt capacity is permitted up to the greater of $625 million and 100% of LTM EBITDA, with additional unlimited capacity subject to compliance with a first lien (senior secured) net leverage ratio not exceeding 2.75x on a pro forma basis. Any incremental facility must have a maturity and weighted average life to maturity no earlier than the existing Term Loan B Facility, and there is no inside maturity sublimit or basket. A "blocker" provision restricts the transfer of material intellectual property to unrestricted subsidiaries. The credit agreement includes some limitations on up-tiering transactions, requiring the consent of each lender for amendments that subordinate the debt and/or liens, unless such lenders can ratably participate in such priming debt. The stable outlook reflects Moody's expectations of mid single digit organic revenue growth and modestly increasing margins driven by positive trends in the manufacturing industry (including onshoring and AI related investments in automation) and infrastructure investments. EBITDA growth and significant debt repayment from FCF is expected to reduce leverage below 4x by the end of 2027. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS Belden's rating could be upgraded if the company further increases its scale and leverage is sustained in the low 3x range through most economic cycles with positive organic revenue growth. A strong liquidity profile with high cash balances, good revolver availability and FCF as a percentage of debt well above 10% would also be required. A stable supply chain environment would also be needed. Belden's rating could be downgraded if leverage was expected to exceed 4.5x on a sustained basis due to negative economic conditions, market share losses, or leveraging transactions. A significant deterioration in the liquidity position could also lead to negative rating pressure. Headquartered in St. Louis, Missouri, Belden Inc. is a leading designer and manufacturer of connectivity and signal transmission products for the global network communication and specialty electronic marketplaces. The company has global operations that include smart infrastructure solutions and automation solutions. Manufacturing capabilities are located in North America, Europe, Asia, and Africa. Belden generated revenues of about $2.8 billion LTM Q1 2026. 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. BELLEROSE TERRACE: Court OKs Boston Property Sale Withdrawal ------------------------------------------------------------ The U.S. Bankruptcy Court for the District of Massachusetts has granted Bellerose Terrace LLC to withdraw motion to sell Property, free and clear of liens, claims, interests, and encumbrances. The Debtor’s assets include "Project 1" real property known as 110-118 Terrace, 120 Terrace, 124 Terrace, 126 Terrace, 128 Terrace Street, Boston, Massachusetts. The Debtor retained the services of Freudenheim Partners/JBS Commercial Real Estate as the real estate brokerage firm to market Project. The Debtor received an offer from Douglas R. George or his nominee Terrace Mission Hill LLC for the purchase price of $4,600,000 subject to certain credits and adjustments. The Court has permitted the Debtor to withdraw the motion and the June 25, 2026 hearing is cancelled. About Bellerose Terrace LLC Bellerose Terrace LLC is a Massachusetts LLC formed in 2018, owns multiple real property parcels in Suffolk County, Massachusetts. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Mass. Case No. 25-12499) on November 18, 2025. In the petition signed by Matthew O'Hara, manager, the Debtor disclosed up to $10 million in both assets and liabilities. Judge Christopher J. Panos oversees the case. Michael Van Dam, Esq. at VAN DAM LAW LLP represents the Debtor as legal counsel. BOKQUA LLC: Claims to be Paid from Property Sale Proceeds --------------------------------------------------------- Bokqua LLC filed with the U.S. Bankruptcy Court for the District of Colorado a Disclosure Statement to accompany Plan of Reorganization dated May 29, 2026. The Debtor was formed in or about October 2020 by Boris Klein for the purpose of acquiring residential real estate for investment purposes. At the time of purchasing the properties, some properties were leased as rental properties and some were held for investment. As of the Petition Date, the Debtor owned approximately 168 properties, comprised primarily of single-family homes with an additional four condominium units. The properties were either being used for residential leases, in the process of being rented to new lessors for residential leases, or in the process of being sold. The Debtor had 91 active rentals as of the Petition Date, which number has decreased post-petition as the Debtor proceeds with its restructuring operations and preparing properties for sale. During the course of the Debtor's Chapter 11 case, the Debtor worked to sell a number of properties at amounts that it believes are beneficial to the estate. The sales effectuated or in process by the Debtor include: Property Sale Amount Lender -------- ----------- ------ 25943 East Maple Drive $448,000 Toorak 3735 South Lewiston $480,000 Toorak 4050 Odessa Street $555,000 Genesis 2604 Dunkirk Court $507,500 Genesis 5941 South Quail Way $561,000 Genesis 4063 South Himalaya Way $455,000 Genesis 16812 E. Mansfield Circle $425,000 Genesis 3677 S. Uravan Street $550,000 Genesis The Debtor's property portfolio has significant value, and the Debtor will maximize that value with the sale of the properties at fair market value. Because many of the properties have been used as rentals and some have sat vacant for an extended period of time, the actual values vary based on any repairs or improvements needed. Additional factors including trends in the real estate market will also affect the value of the property portfolio. Class 5 is generally comprised of the unsecured claims against the Debtor's estate. As set forth on Exhibit B the total unsecured claims against the estate are at least $2,521,797.40. The amount may increase based on any deficiency owed to Genesis after the sale of the properties securing their respective claims. Class 5 is impaired by the Plan. Each Holder of a General Unsecured Claim shall be entitled to receive its pro rata share of the excess, if any, of the proceeds of sale of the collateral securing the Class 3 and Class 4 Claims after payment of administrative expense claims and such claims in full. Class 6 includes the Interests in Bokqua. Class 6 is impaired by the Plan. The Holder of the Class 6 Interests shall have no rights of governances of the Reorganized Debtor. The Holder of the Class 6 Interests shall be entitled to distribution of any excess, if any, after payment of Allowed Unsecured Claims in full. Pursuant to the Plan, the Debtor shall be empowered to take such action as is necessary to effectuate the terms of the Plan through the Plan Administrator. Mr. Kim shall be appointed as the Plan Administrator on the Effective Date of the Plan and shall be compensated $700 per hour for such services. As the Plan Administrator, r2 advisors will be paid from any and all collected rents on the properties, and shall be entitled to maintain a retainer in the amount of $75,000 which may be applied to all undisputed fees and replenished from rents until such time as the sales of properties is concluded, the Plan Administrator resigns, or the Plan Administrator is replaced. The Debtor's Plan is feasible based upon the Debtor's ability to effectuate the sales of real properties in accordance with the intended sale phases. The Debtor's Plan is contingent on the occurrence of certain events, and will not become effective until: 1) an Order is entered confirming the Debtor's Plan and the Order becomes final; 2) the Confirmation Date has occurred; 3) no request for revocation of the Confirmation Order under Bankruptcy Code section 1144 shall have been made, or if made, remain pending. Under the anticipated sale process, the Debtor, working in conjunction with Atlas, has targeted 33 properties that are ready, or close to ready, to be and can be sold at fair market value without extensive work or cost to make the properties sale ready. With the sale of such properties, either pre- or post-confirmation, the Debtor will be able to meet the required pay downs of principal to Genesis. During this time, the Debtor will continue to generate rent from remaining properties that are subject to leases while preparing the remaining properties for sale. A full-text copy of the Disclosure Statement dated May 29, 2026 is available at https://urlcurt.com/u?l=1DHfxI from PacerMonitor.com at no charge. Counsel to the Debtor: Jeffrey S. Brinen, Esq. Keri L. Riley, Esq. KUTNER BRINEN DICKEY RILEY, P.C. 1660 Lincoln Street, Suite 1720 Denver, CO 80264 Telephone: (303) 832-2400 E-mail: klr@kutnerlaw.com About Bokqua LLC Bokqua LLC is a real estate investment company that owns and manages residential properties in the Denver metropolitan area. The Company operates in association with BVRE, a property management firm based in Denver, Colorado. Bokqua LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Col. Case No. 25-14846) on July 31, 2025. In its petition, the Debtor reports estimated assets between $10 million and $50 million and estimated liabilities between $50 million and $100 million. Honorable Bankruptcy Judge Michael E. Romero handles the case. The Debtor is represented by Jeffrey S. Brinen, Esq. at KUTNER BRINEN DICKEY RILEY. BRADFORD MEDIA: Case Summary & Seven Unsecured Creditors -------------------------------------------------------- Debtor: Bradford Media Group, LLC P.O. Box 24202 Little Rock, AR 72221 Business Description: Bradford Media Group is an Arkansas-based radio broadcasting company. Chapter 11 Petition Date: June 2, 2026 Court: United States Bankruptcy Court Eastern District of Arkansas Case No.: 26-12199 Judge: Hon. Richard D Taylor Debtor's Counsel: Sheila F. Campbell, Esq. SHEILA F CAMPBELL LAW FIRM 2510 Percy Machin Drive North Little Rock, AR 72114 Tel: 501-374-0700 Fax: 501-372-5375 E-mail: sheila.sfclaw@gmail.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Alfred Bradford as managing member. A full-text copy of the petition, which includes a list of the Debtor's seven unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/JFHR55I/BRADFORD_MEDIA_GROUP_LLC__arebke-26-12199__0001.0.pdf?mcid=tGE4TAMA BROADBAND INFRASTRUCTURE: Gets Extension to Access Cash Collateral ------------------------------------------------------------------ Broadband Infrastructure, Inc. received another extension from the U.S. Bankruptcy Court for the District of South Carolina to use cash collateral to fund operations. The court on June 11 entered a second interim order authorizing the Debtor to use cash collateral based on an approved interim budget until a final hearing is held. The Debtor was initially allowed to access cash collateral under the court's June 1 interim order. In its second interim order, the court directed that any funds allocated in the interim budget for estate professionals must be held in escrow and may only be paid after the professionals file fee applications and obtain court approval. The objections filed by Coastal Carolina National Bank and the U.S. Trustee for Region 4 remain pending until the court enters a final order authorizing the use of cash collateral. A further hearing is scheduled for July 15. A copy of the court's order and the Debtor's budget is available at http://bankrupt.com/misc/BroadbandInfrastructure_2ICCOrder.pdf Broadband Infrastructure's secured debt structure involves multiple lenders that claim liens against substantially all of its assets. The first major secured creditor is the U.S. Small Business Administration, which issued a $500,000 Economic Injury Disaster Loan in May 2020 secured by a blanket lien on nearly all tangible and intangible assets, including inventory, equipment, accounts receivable, deposit accounts, software, and proceeds. Another significant lender is Coastal Carolina National Bank, which provided a $1 million revolving commercial loan in November 2023 secured by inventory and accounts receivable. The Debtor also borrowed $850,000 from Parsonex Special Solutions Fund, LLC, secured by accounts receivable, contract rights, equipment, and general intangibles. About Broadband Infrastructure Inc. Broadband Infrastructure, Inc. provides turnkey telecommunications infrastructure solutions for inside and outside plant projects across the eastern United States, offering services including fiber optic splicing and terminations, structured cabling, security and access control, 5G, DAS and Small Cell, long-haul, and overbuild fiber construction. It serves industrial, commercial, education, government, and healthcare markets, working alongside general and electrical contractors to deliver integrated network solutions. Managed by industry veterans with over 100 years of combined experience, Broadband Infrastructure designs, builds, and activates networks that connect end users through service providers. Broadband Infrastructure sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. S.C. Case No. 25-04610) on November 21, 2025, listing up to $10 million in both assets and liabilities. Braddock Cunningham, president of Broadband Infrastructure, signed the petition. Judge Helen E. Burris oversees the case. Robert Pohl, Esq., at Pohl Bankruptcy, LLC, represents the Debtor as legal counsel. C & S ADKINS: Andrew Kight Named Subchapter V Trustee ----------------------------------------------------- The Acting U.S. Trustee for Region 10 appointed Andrew Kight of Allman Kight Hester, LLC as Subchapter V trustee for C & S Adkins Enterprises, Inc. Mr. Kight will be paid an hourly fee of $375 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Kight declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Andrew T. Kight 108 E. 9th Street Indianapolis, IN 46202 317-608-1130 trusteekight@jhklegal.com About C & S Adkins Enterprises Inc. C & S Adkins Enterprises, Inc. filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. S.D. Ind. Case No. 26-03473) on May 29, 2026, with $500,001 to $1 million in both assets and liabilities. Judge Jeffrey J. Graham presides over the case. KC Cohen, Esq., at Kc Cohen, Lawyer, PC represents the Debtor as bankruptcy counsel. CALLAWAY GOLF: Moody's Withdraws 'Ba3' CFR on Debt Repayment ------------------------------------------------------------ Moody's Ratings has withdrawn Callaway Golf Company's (Callaway) ratings including the Ba3 Corporate Family Rating, the Ba3-PD Probability of Default Rating, the Ba3 rating on the company's rated senior secured term loan B and the SGL-1 Speculative Grade Liquidity Rating. Prior to the withdrawal, the outlook was positive. This action follows Callaway's full repayment of its previously rated debt with cash on hand. RATINGS RATIONALE Moody's have withdrawn the ratings as a result of the repayment of the rated senior secured term loan B due in 2030. CORPORATE PROFILE Callaway Golf Company (NYSE:CALY) is headquartered in Carlsbad, CA, and manufactures and sells golf clubs, golf balls, and golf and lifestyle apparel and accessories. The company's portfolio of global brands includes Callaway Golf, Odyssey, OGIO, and TravisMathew. On January 01, 2026, Topgolf Callaway completed the sale of 60% of its previously wholly owned Topgolf business that owns and operates 98 golfing entertainment centers in the US, four in the U.K., and an additional eight international franchised locations. The company changed its name from Topgolf Callaway Brands Corp. (NYSE:MODG) to Callaway Golf Company (NYSE:CALY) on January 15, 2026. Callaway had previously acquired Topgolf in March 2021. Callaway is a publicly-traded company with consolidated revenue of $2.1 billion for the 12 months ended March 31, 2026. CAN TRAIL: Unsecureds Will Get 10% of Claims over 60 Months ----------------------------------------------------------- Can Trail Transportation LLC, filed with the U.S. Bankruptcy Court for the Central District of California a Subchapter V Plan of Reorganization dated May 29, 2026. The Debtor is a California limited liability company formed in early 2020 and is wholly owned and managed by its sole managing member, Derrick L. Cantrell, who holds a 100% membership interest. The Debtor is engaged in long-haul motor carrier transportation services and transports freight throughout the United States. The Debtor commenced operations in 2020 with a single truck and expanded its fleet throughout 2021 through 2024 by acquiring additional trucks and chassis to service growing demand. The Debtor maintains its principal place of business at 8743 Medford Street, Riverside, California 92508. The Debtor filed its voluntary petition for relief under Chapter 11, Subchapter V, on March 1, 2026, to restructure its debt obligations and preserve its business as a going concern. The Debtor has continued to operate as debtor-in-possession pursuant to §§ 1184 and 1107 of the Bankruptcy Code. Caroline Renee Djang was appointed as the Subchapter V Trustee. All payments required under this Plan will be funded from the Debtor's ongoing business operations. Based on the nature of the Debtor's transportation business, the financial projections attached hereto, and the supporting financial documents to be filed in supplement, the Debtor believes that this Plan is feasible and that confirmation will not likely be followed by liquidation or the need for further financial reorganization. Class 9 consists of General Unsecured Claims. Holders of allowed Class 9 claims shall receive a distribution equal to ten percent of each holder's allowed claim amount, paid in equal monthly installments over sixty consecutive months commencing on the Effective Date, as summarized in Section III.K of this Plan. The aggregate total distribution to Class 9 is $125,222.03, representing a monthly aggregate payment of approximately $2,087.03. Distributions to Class 9 shall be funded from the Debtor's disposable income and ongoing business operations. The allowed unsecured claims total $1,252,220.30. This Class is impaired. Class 10 consists of all equity interests in the Debtor, held solely by Derrick L. Cantrell, who holds a 100% membership interest. On the Effective Date, Derrick L. Cantrell shall retain his 100% membership interest in the Debtor. All payments required under this Plan shall be funded from the Debtor's cash on hand and from income generated from the Debtor's ongoing transportation operations. A full-text copy of the Subchapter V Plan dated May 29, 2026 is available at https://urlcurt.com/u?l=WmQRxj from PacerMonitor.com at no charge. Counsel to the Debtor: Kevin Tang, Esq. Tang & Associates 17011 Beach Blvd., Suite 900 Huntington Beach, CA 92647 Telephone: (714) 594-7022 Facsimile: (714) 594-7024 Email: kevin@tang-associates.com About Can Trail Transportation LLC Can Trail Transportation L.L.C. provides freight transportation services including dry and refrigerated local and intermodal over-the-road shipments, with a focus on cargo originating from the Los Angeles and Long Beach ports. The company serves clients across sectors such as B2B commercial, construction, and hazardous materials, offering LTL pick-up and tailored logistics solutions. Can Trail emphasizes reliability, safety, and customer satisfaction, leveraging experienced drivers, industry expertise, and a culture of continuous improvement to support efficient and dependable freight operations. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Cal. Case No. 26-11496) on March 1, 2026. In the petition signed by Derrick Lee Cantrell, managing member, the Debtor disclosed $272,546 in assets and $1,740,024 in liabilities. Judge Scott H. Yun oversees the case. Kevin Tang, Esq., at Tang & Associates represents the Debtor as counsel. CARLSBAD 10: Seeks to Extend Plan Exclusivity to Sept. 1 -------------------------------------------------------- Carlsbad 10 Hospitality, LLC asked the U.S. Bankruptcy Court for the Southern District of California extend its exclusivity periods to file a plan of reorganization and disclosure statement to Sept. 1, 2026. The Debtor explains that after lengthy and time consuming negotiations, the Parties have arrived at the Agreement regarding the sale of Debtor's assets for an amount Debtor anticipates will be sufficient to pay all allowed, non-insider creditors in full. After the sale of Debtor's assets closes in mid-June, Debtor will need time to file at least two objections to proofs of claim and then prepare the case for either dismissal or organization as appropriate. To the extent the Exclusive Filing Period deadline remains June 3, during this time, Debtor would be required to divert valuable time and resources away from these efforts to prepare and file a Chapter 11 plan. Thus, extending the Exclusive Filing Period by 90 days will allow Debtor to focus its time and energy in the near term on effectuating the terms of the Agreement will "facilitate moving the case forward toward a fair and equitable resolution." Henry Mayo Newhall Mem'l. Hosp., 282 B.R. at 453. This factor therefore weighs heavily in finding cause exists to extend the Exclusive Filing Period. Other factors present here also favor extending the Exclusive Filing Period: Factor 2, concerning the necessity of sufficient time to negotiate and prepare adequate information, supports extending the Exclusive Filing Period because the Parties need sufficient time to finalize and carry out their Agreement. Factor 3, concerning the existence of good faith progress toward reorganization, supports extending the Exclusive Filing Period because the Parties have entered the Agreement, which evidences the Parties' good faith efforts to negotiate a globally acceptable plan for reorganization. Factor 4, concerning Debtor's payment of its outstanding debts, supports extending the Exclusive Filing Period because Debtor is current on all post-petition obligations. Factor 6, concerning whether Debtor has made progress in negotiating with creditors, supports extending the Exclusive Filing Period for much the same reasons as Factor 3 does, particularly because Debtor's good faith negotiations with its landlord and pre-petition buyer has led to an Agreement between the Parties which will result in all non-insider creditors being paid in full. Factor 7, concerning the length of time the case has been pending, supports extending the Exclusive Filing Period, because the Parties have made tremendous progress in negotiating an acceptable resolution for all interested parties and creditors in the short amount of time since this case was filed, and this is only Debtor's first request to extend the Exclusive Filing Period. Carlsbad 10 Hospitality, LLC is represented by: Paul J. Leeds, Esq. Meredith King, Esq. FRANKLIN SOTO LEEDS LLP 444 West C Street, Suite 300 San Diego, CA 92101 Telephone: (619) 872-2520 Facsimile: (619) 566-0221 E-mail: pleeds@fsl.law, mking@fsl.law About Carlsbad 10 Hospitality Carlsbad 10 Hospitality, LLC is a California-based company that operates hotel properties in Carlsbad under the brand names Hyatt House Carlsbad, Studio 6 Suites, and Carlsbad Suites, with Studio 6 Suites operated as a franchise of G6 Hospitality Franchising LLC. It holds a leasehold interest under a ground lease for the land, buildings, and associated improvements at 5010 Avenida Encinas, valued at $11 million. Carlsbad 10 Hospitality filed Chapter 11 petition (Bankr. S.D. Calif. Case No. 26-00434) on February 3, 2026, with between $10 million and $50 in both assets and liabilities. Judge Christopher B. Latham oversees the case. Paul Leeds, Esq., at Franklin Soto Leeds, LLP is the Debtor's legal counsel. CARPENTER FAMILY: To Sell Darlington Property to CFF LLC -------------------------------------------------------- Carpenter Family Farms LLC (CFF), Benjamin Carpenter, and B & L Land LLC (B&L), seek permission from the U.S. Bankruptcy Court for the Southern District of Indiana, Indianapolis Division, to sell Property, free and clear of liens, claims, interests, and encumbrances. Ben, together with is estranged wife, Lauren Carpenter, own real property located at 77525 N. 900E Sugar Creek Township, Montgomery County, Darlington, Indiana, which comprised of Ben's residence along with farm buildings, situated on 9.731 acres (Residence). The Residence was held as Tenancy by Entirety prior to the initiation of divorce proceedings by Ben's estranged spouse. B&L owns real property containing land and a grain bin facility on approximately 1.78 acres on Montgomery County, Indiana, including the Sukup grain bin and all related equipment, improvements and fixtures comprising the grain facility (Grain Facility). The Debtor also own certain farm equipment, vehicles, livestock and feed. The Residence, Grain Facility and Farm Personal Property are collectively referred as (Property). The Debtor received an offer from CFF LLC, an Indiana limited liability company, to purchase the Property for $2,487,275. The Purchaser is owned by Ben's parents, Dennis and Kim Carpenter. The Purchase Price is the fair market value of the Property. None of the Property being sold contains any personally identifiable information. The Property is being sold "as-is" with no express or implied warranty. The sale is contingent upon the Purchaser obtaining financing for the purchase of the Property. The Debtor submit that not further marketing is necessary and that the Agreement is a result of arms-length and good-faith negotiations. The Debtor submit that the sale of the Property is within their sound business judgment. The Debtor also requests that it no objections are filed or are pending at the time of hearing of the motion, that the Court waive the 14-day stay imposed by Rule 6004(h) of the Federal Rules of Bankruptcy Procedure. Carpenter Family Farms LLC (CFF), Benjamin Carpenter, and B & L Land LLC (B&L), seek permission from the U.S. Bankruptcy Court for the Southern District of Indiana, Indianapolis Division, to sell Property, free and clear of liens, claims, interests, and encumbrances. Ben, together with is estranged wife, Lauren Carpenter, own real property located at 77525 N. 900E Sugar Creek Township, Montgomery County, Darlington, Indiana, which comprised of Ben's residence along with farm buildings, situated on 9.731 acres (Residence). The Residence was held as Tenancy by Entirety prior to the initiation of divorce proceedings by Ben's estranged spouse. B&L owns real property containing land and a grain bin facility on approximately 1.78 acres on Montgomery County, Indiana, including the Sukup grain bin and all related equipment, improvements and fixtures comprising the grain facility (Grain Facility). The Debtor also own certain farm equipment, vehicles, livestock and feed. The Residence, Grain Facility and Farm Personal Property are collectively referred as (Property). The Debtor received an offer from CFF LLC, an Indiana limited liability company, to purchase the Property for $2,487,275. The Purchaser is owned by Ben's parents, Dennis and Kim Carpenter. The Purchase Price is the fair market value of the Property. None of the Property being sold contains any personally identifiable information. The Property is being sold "as-is" with no express or implied warranty. The sale is contingent upon the Purchaser obtaining financing for the purchase of the Property. The Debtor submit that not further marketing is necessary and that the Agreement is a result of arms-length and good-faith negotiations. The Debtor submit that the sale of the Property is within their sound business judgment. The Debtor also requests that it no objections are filed or are pending at the time of hearing of the motion, that the Court waive the 14-day stay imposed by Rule 6004(h) of the Federal Rules of Bankruptcy Procedure. About Carpenter Family Farms LLC Carpenter Family Farms, LLC filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Ind. Case No. 25-05527) on Sept. 12, 2025, listing between $1 million and $10 million in assets and between $10 million and $50 million in liabilities. Judge Andrea K. Mccord presides over the case. Jeffrey M. Hester, Esq., at Hester Baker Krebs, LLC, is the Debtor's legal counsel. About Carpenter Family Farms LLC. CENTRAL FLORIDA: To Sell Equipment to Century International Arms ---------------------------------------------------------------- Central Florida Firearms, LLC, d/b/a Live Free Armory (CFF) and Live Free Manufacturing LLC (LFM) seek approval from the U.S. Bankruptcy Court for the Middle District of Florida, Orlando Division, to sell Equipment, free and clear of liens, claims, interests, and encumbrances. CFF commenced its chapter 11 case on September 26, 2025. CFF does business as Live Free Armory. Live Free Armory is CFF's trade name and is not a separate debtor. LFM commenced its chapter 11 case on March 10, 2026. LFM is a separate debtor and affiliate of CFF. The Purchased Assets are divided between the two estates. CFF owns the three Fanuc Robodrills and the two Okuma machines listed on Schedule 1; CFF's Schedule A/B lists the three Fanuc Robodrills, and CFF's Schedule D identifies Mitsubishi’s PMSI and secured claim in that collateral. CFF’s Schedule D also identifies Amur’s PMSI in collateral described as LU-3000-EX-2SC/600, Velocity-Static Tool Kit, and Genos L400II-E X 500. LFM owns the three Precihole machines listed on Schedule 1. LFM's Schedule A/B lists the Precihole PRVN12/2-800 Automated Pull Reaming Machine (serial no. EC01) and the Precihole GVN 12C/4-800 Drilling Machine (serial no. GA122), and LFM's Schedule D identifies Mitsubishi’s PMSI and secured claims against those two machines. LFM also owns the Precihole Broach, Machine No. E-B02, Model BRVN 12/1-800, serial number 104470140. The Midland financing for the Precihole Broach arises under Contract No. 152399. The lienholders of the Equipment are Mitsubishi HC Capital America, Inc., Amur Equipment Finance, and Midland States Bank. The Debtor wants to sell the Equipment to Century International Arms, Inc. or its permitted designee. The purchase price is the secured creditor payoff amount for the Purchased Assets. The Debtors have a sound business reason for the sale. Mitsubishi has obtained stay relief in both cases and a further order requiring immediate access to the CFF and LFM collateral for repossession and removal. The Debtors can either allow that process to proceed or sell the Purchased Assets to Century for the Payoffs. Century is purchasing the Purchased Assets in good faith and at arm's length. Century is not an insider of either Debtor. The Debtors are not aware of any fraud, collusion, or attempt by Century to take unfair advantage of the Debtors, their estates, creditors, or other parties in interest. Century is acquiring equipment only. Century is not assuming contracts, leases, employee obligations, taxes, trade debt, warranty obligations, product-liability claims, regulatory liabilities, litigation claims, administrative expenses, professional fees, insider claims, guarantor obligations, or any other liabilities of either Debtor or any affiliate. Details of the Equipment that are to be sold are also provided at https://urlcurt.com/u?l=6qPtnP About Central Florida Firearms LLC Central Florida Firearms, LLC, doing business as Live Free Armory, specializes in the production of slides, barrels, and other firearm parts, offering next-day shipping on available inventory for orders received before the daily cutoff. Central Florida Firearms LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case. No. 25-06150) on September 26, 2025. In its petition, the Debtor reported estimated assets of $5.2 million and estimated liabilities of $12.7 million. The Debtor is represented by Jeffrey S. Ainsworth, Esq. of BransonLaw, PLLC. CENTURY BARBERSHOP: Aleida Molina Named Subchapter V Trustee ------------------------------------------------------------ The Acting U.S. Trustee for Region 21 appointed Aleida Martinez Molina, Esq., as Subchapter V trustee for Century Barbershop, Inc. Ms. Molina will be paid an hourly fee of $450 for her services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Ms. Molina declared that she is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Aleida Martinez Molina, Esq. 2121 NW 2nd Avenue, Suite 201 Miami, FL 33127 Telephone: (305) 297-1878 Email: Martinez@subv-trustee.com About Century Barbershop Inc. Century Barbershop, Inc., sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 26-17183) on May 31, 2026, with up to $50,000 in assets and $1 million to $10 million in liabilities. Judge Mindy A. Mora presides over the case. Tyler Andrew Trumbach, Esq., at the Law Offices of Tyler A Trumbach PA represents the Debtor as bankruptcy counsel. CERA TILE: Court OKs Interim Use of Cash Collateral --------------------------------------------------- The U.S. Bankruptcy Court for the Southern District of New York entered a second amended interim order allowing Cera Tile, Inc. to continue using cash collateral. The order extended the Debtor's authority to use cash collateral through July 14, with the consent of its secured lenders. As a condition of continued cash collateral use, the Debtor agreed to provide adequate protection payments to its secured creditors. Live Oak Banking Company will receive monthly payments of $7,500, while Gulf Coast Bank & Trust Company will receive monthly payments of $2,500. In exchange for these payments, Live Oak and Gulf Coast consented to the Debtor's ongoing interim use of their cash collateral. The creditors' consent was provided without waiving any of their rights or claims in the bankruptcy case. All creditor protections established under the original interim order remain in effect. The only modification is the replacement of prior budgets with updated monthly budgets. About Cera Tile Inc. Cera Tile, Inc. is a privately owned wholesale tile distribution company headquartered in Middletown, New York. The firm sources and distributes ceramic, porcelain, and design-oriented tile products through partnerships with international manufacturers, supplying a range of contemporary flooring and wall tiles to retail partners across the residential and commercial building sectors. Cera Tile operates from a substantial distribution center and focuses on timely fulfillment and trend-driven product offerings for its wholesale customer base. Cera Tile sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. N.Y. Case No. 26-35243) on March 8, 2026, with up to $50,000 in assets and up to $50 million in liabilities. Steven Wecera, president of Cera Tile, signed the petition. Judge Kyu Young Paek oversees the case. Michael D. Pinsky, Esq., at the Law Office of Michael D. Pinsky, P.C., represents the Debtor as legal counsel. CHEESE SHOP: Daniel Bruton Named Subchapter V Trustee ----------------------------------------------------- John Paul Cournoyer, the U.S. Bankruptcy Administrator for the Middle District of North Carolina, appointed Daniel Bruton as Subchapter V trustee for The Cheese Shop, LLC. Mr. Bruton will be paid an hourly fee of $375 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Bruton declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Daniel C. Bruton P.O. Box 21029 Winston Salem, NC 27120-1029 336-722-3700 About The Cheese Shop LLC The Cheese Shop LLC, doing business as Wedgewood Cheese Bar, operates a cheese bar and cheese and wine shop in Carrboro, North Carolina. It offers cheese-forward food service, cheese boards, wine and other beverages, catering and private dining, events and classes, gift cards, and a food-focused blog. The Cheese Shop sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D.N.C. Case No. 26-80175) on May 29, 2026, with $100,001 to $500,000 in assets and $1 million to $10 million in liabilities. Judge Benjamin A. Kahn presides over the case. Lydia C. Carpenter, Esq., at Hendren, Redwine & Malone, PLLC represents the Debtor as legal counsel. CHEWY INC: S&P Assigns 'BB' Issuer Credit Rating, Outlook Stable ---------------------------------------------------------------- S&P Global Ratings assigned its 'BB' issuer credit rating to U.S.-based specialty pet online retailer Chewy Inc. and 'BB' issue-level rating and '3' recovery rating to its proposed term loan B, indicating its view that lenders would receive meaningful recovery (50%-70%; rounded estimate: 55%) in the event of a default. The stable outlook reflects S&P's expectation that Chewy will expand its market share and profitability over the next year despite pressure on consumer spending, leading it to sustain S&P Global Ratings-adjusted leverage below 2x. S&P's rating reflects Chewy's leading market position in the competitive pet retail industry. Chewy has grown rapidly since its founding in 2011 to become the largest U.S. online pet specialty retailer in the U.S., with sales growing to $12.6 billion in fiscal 2025 ended Feb. 1, 2026. Chewy's leading presence in pet e-commerce is evidenced by its robust active customer base, which grew 4% in 2025 to 21.3 million users, representing more than 20% of U.S. pet-owning households. S&P said, "We believe Chewy's proprietary data platform, wide product offering, price competitiveness, distribution capabilities, and strong customer service are competitive strengths that position it to further claim market share. We believe Chewy can grow revenue by a mid- to high-single-digit percent over the medium term as it executes strategic initiatives and benefits from overall pet category growth, as well as the secular shift to e-commerce. "Our rating also reflects Chewy's healthy balance sheet and good free operating cash flow (FOCF) generation, which grew to $562 million in the fiscal year ended Feb. 1, 2026 (fiscal 2025), in line with the company's improving profitability." Chewy's digital infrastructure and efficient distribution provide competitive advantages. The company's autoship program, which accounts for about 83% of net sales, enables predictable recurring revenue in its consumables business. This revenue visibility drives significant operational efficiencies, such as optimized labor and asset utilization as well as reduced order variability. Chewy's ability to monitor and adjust pricing keeps it competitive with other online and discount retailers, such as Walmart and Amazon. Minimum advertised price agreements in the industry limit destructive price competition, and vendor-funded discounts on autoship orders strengthen Chewy's value proposition. With 18 fulfillment centers and five pharmacy hubs, Chewy can reach 80% of the U.S. via overnight ground shipping and delivers almost 100% of orders within two days. That said, Chewy is still susceptible to pressure on consumer spending. While the pet category has been relatively resilient, growth slowed in recent years after pet ownership surged during the pandemic. Elevated inflation and pressure on consumers has led to stagnant pet ownership growth, trade down, and fewer discretionary purchases. Customers continued to pull back on discretionary spending during the first quarter, affecting hard goods and more discretionary consumable products. However, S&P forecasts Chewy will continue expanding its market share and increase revenue around 5% this year amid low-single-digit percent industry growth. E-commerce has taken significant share from brick-and-mortar in the $160 billion U.S. pet industry, accounting for about 41% of sales in 2025 compared with 22% in 2019. Chewy leads specialty pet retailers in digital sales, and its brick-and-mortar competitors are pursuing omnichannel initiatives to improve their competitive standing. S&P's peer analysis considers other e-commerce and specialty retailers, including Wayfair (B+/Positive), PetSmart (B+/Negative), and Petco Health and Wellness (B/Stable). Chewy captures significant market share in pet retail and outpaces both PetSmart and Petco in consumable sales. However, it operates with lower overall profitability. Chewy's S&P Global Ratings-adjusted EBITDA margins were about 6.1% in 2025, compared with about 12.8% for Petco and 15.9% for PetSmart. Despite lower margins, Chewy's S&P Global Ratings-adjusted EBITDA is comparable to Petco's, while lagging that of PetSmart. Chewy operates with significantly less debt than both peers, giving it greater financial flexibility to invest in its business and pursue strategic acquisitions. Chewy's e-commerce model and significant autoship penetration lead to higher inventory turns and a shorter cash conversion cycle than its rated peers. Nevertheless, the industry is highly competitive. Specialty pet retailers face competition from online retailers, such as Amazon, as well as club and mass retailers. In S&P's view, the national store footprints of Petco and PetSmart provide some advantages unique to brick-and-mortar, given that services offered in stores can lead to cross-shopping and incremental purchases. Expansion into pet health supports Chewy's operating scale and profitability. Chewy has expanded its platform in recent years and is increasingly focused on growing its presence in the $54 billion pet health market. Its integrated, end-to-end pet care platform helps it capture a larger share of pet owner spending while diversifying its revenue streams into higher-margin categories. The company, currently the largest pet pharmacy in the U.S., is growing its healthcare services and expanding Chewy Vet Care. The Modern Animal acquisition roughly doubles Chewy's footprint in veterinary services. Increasing its vet clinic count drives new customers to Chewy and improves cross-shopping, increasing net sales per average customer (NSPAC). S&P forecasts S&P Global Ratings-adjusted EBITDA margin of 7% in fiscal 2026, expanding approximately 100 basis points due to growth in digital advertising revenue and greater sales leverage. Chewy operated with S&P Global Ratings-adjusted EBITDA margins below 5% prior to fiscal 2024. However, growth in digital ads and improved product mix have bolstered gross margins in recent years. In addition, Chewy has increased automation in its fulfillment centers, leading to better efficiency as well as driving fixed-cost leverage with solid sales growth. High customer acquisition costs have historically weighed on Chewy's profitability. However, expansion into pet health will likely increase NSPAC, improving the customer value to acquisition cost ratio. S&P expects the expansion of Chewy Vet Care, Modern Animal, and other pet health adjacencies will improve profitability, given the higher margin in services. Increasing demand for digital ads on Chewy's storefront will also support gross margin expansion, and S&P expects modestly better expense leverage as its subscription base grows. S&P forecasts S&P Global Ratings-adjusted EBITDA of $934 million in fiscal 2026 and $1.1 billion in fiscal 2027. Beyond the near term, S&P believes Chewy has the potential to reach its 10% adjusted EBITDA margin target (company-defined) based on increasing digital ad demand and greater leveraging of fixed costs as its revenue base grows and it invests in fulfillment center automation. Majority ownership and financial sponsor control constrain the rating, despite Chewy's relatively low adjusted leverage. Its financial sponsor, BC Partners, owns about 42.5% of Chewy's common stock but controls more than 80% of the voting power through its holding of class B shares, which carry 10 votes per share. The dual class share structure is set to expire in October 2028, when all remaining class B shares will be converted into class A shares as stipulated by the terms of an investment rights agreement. Because of the financial sponsor's control, S&P applies its FS-4 financial policy modifier and do not net the company's cash against its debt. Chewy has historically operated with very little adjusted debt. S&P said, "Its asset-based lending (ABL) facility was undrawn as of the end of fiscal 2025, and its S&P Global Ratings-adjusted debt balance consisted primarily of lease liabilities, which we treat akin to debt. We estimate pro forma S&P Global Ratings-adjusted leverage will be around 1.5x following the proposed $600 million term loan B issuance." S&P said, "We expect earnings growth this year will reduce S&P Global Ratings-adjusted leverage to around 1.3x at fiscal year-end 2026 and 1.1x in fiscal 2027. Although we expect Chewy to maintain leverage below 2x during this period, the ongoing ownership and control by a financial sponsor heighten the risk of a leveraging event. "Chewy will pursue strategic acquisitions to accelerate its pet health expansion. We expect Chewy will remain acquisitive, prioritizing targets similar to Modern Animal and SmartEquine, to expand its presence in veterinary clinics and integrate into the broader pet care ecosystem, such as pharmacy and diagnostics. We expect Chewy will deploy proceeds from the proposed term loan over time to fund acquisitions. "We forecast reported free operating cash flow (FOCF) of $620 million in fiscal 2026 and $741 million in fiscal 2027, driven by EBITDA expansion and a high cash conversion rate. We forecast capital expenditure (capex) of around $210 million in fiscal 2026 and $230 million in fiscal 2027, compared with about $130 million last year, as Chewy expands its veterinary footprint and upgrades its fulfillment centers. We expect that as more automation is rolled out across Chewy's fulfillment centers and volumes grow, its cost to serve will be lowered." The acceleration of capex compared with last year is driven by the planned rollout of 15-20 Chewy Vet Care clinics and 5-10 Modern Animal locations, strategically positioned in high-density pet ownership areas within Chewy's existing distribution network to maximize customer acquisition. S&P said, "The stable outlook reflects our view that Chewy will continue to grow its market share and expand profitability as it increases its subscription base and expands into pet health adjacencies, despite rising pressure on discretionary spending. The stable outlook also reflects our expectation that Chewy will sustain S&P Global Ratings-adjusted leverage below 2x over the next 12 months. However, we expect that Chewy will remain majority owned and controlled by its financial sponsor, which could dictate more aggressive financial policies that prioritize shareholder returns." S&P could lower its rating if we expect Chewy will sustain S&P Global Ratings-adjusted leverage above 4x. This could occur if: -- Chewy adopts a more aggressive financial policy, including debt-funded shareholder returns or mergers and acquisitions; or -- Operating performance deteriorates, possibly due to increased competition or integration challenges related to its pet health expansion, leading to lower EBITDA and FOCF relative to its forecast. S&P could raise its rating if S&P expects Chewy will sustain leverage below 3x without a controlling financial sponsor. This could occur if: -- Chewy's financial sponsor owner relinquishes control and reduces its ownership stake to below 40%; -- Revenue and profitability expand in line with S&P's expectations, leading to higher S&P Global Ratings-adjusted EBITDA margins; and -- The company demonstrates a track record of market share gains and continues to expand into higher-margin pet health and pharmacy services. CHRISTMAN CABLE: Gets Final OK to Use Cash Collateral ----------------------------------------------------- Christman Cable, Inc. received final approval from the U.S. Bankruptcy Court for the Western District of Texas, Waco Division, to use cash collateral. Under the final order, the Debtor is permitted to use cash on hand and collections from customer accounts receivable to fund its ordinary and necessary operating expenses in accordance with the court-approved budget through August 31. The order provides the Debtor with operational flexibility under the approved budget. The Debtor may exceed any individual budget line item by up to 10%, and may also exceed a particular line item by more than 10% as long as the aggregate budget variance does not exceed 10% of the total approved budget. As protection for any diminution in the value of their collateral, creditors with an interest in cash collateral will be granted replacement liens, with the same validity, priority and extent as their pre-petition liens. The court further clarified that the payment schedule contained in the approved budget governs payments to the Subchapter V trustee, superseding any prior payment timetable established in an earlier order. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/R18uA from PacerMonitor.com. Christman Cable's primary cash collateral consists of cash and accounts receivable totaling $102,388, with secured creditors holding priority liens in the following order: First United Bank and Trust Co., Global Merchant Cash, Inc., and FundFi Merchant Funding, LLC. Although the Debtor owns additional assets such as vehicles, tools, and equipment, those do not constitute cash collateral. The Debtor's financial distress arose in part from its reliance on merchant cash advance financing in 2025, which it ultimately could not repay. As a result, MCA lenders filed UCC notices directly with the Debtor's customers, disrupting revenue streams and significantly impairing cash flow. About Christman Cable Inc. Christman Cable, Inc., based in Belton, Texas, is a construction contractor specializing in communications cabling and underground utility services, including fiber optic and network infrastructure installation. Founded in 2013, the company serves projects in Central Texas. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Tex. Case No. 26-60352) on April 17, 2026. In the petition signed by James Christman, president, the Debtor disclosed $1,086,137 in total assets and $1,882,381 in total liabilities. Judge Michael M. Parker oversees the case. The Debtor is represented by: David Alford, Esq. Pakis Giotes Burleson & Deaconson, P.C. P.O. Box 58 Waco, TX 76703-0058 alford@pakislaw.com COLLEGE ACHIEVE: S&P Affirms 'B+' Rating on 2022A Revenue Bonds --------------------------------------------------------------- S&P Global Ratings affirmed its 'B+' rating on the Public Finance Authority, Wisconsin's series 2022A (tax-exempt) revenue bonds, issued for CAPS 21 Market LLC on behalf of College Achieve Paterson Charter School (CAPS Paterson or Paterson), a New Jersey not-for-profit corporation, and removed the rating from CreditWatch, where it was placed with negative implications on March 20, 2026. The outlook is negative. S&P said, "The negative outlook reflects our view of the school's constrained financial profile, with the rapid deterioration of its operations and liquidity position based on the 2025 audited results, which led to violations of both debt service coverage and unrestricted reserve covenants. Management expects to remain in compliance with financial covenants in fiscal 2026, with operations expected to be slightly above breakeven, although we view this was largely due to cash support from its charter management organization (CMO). While the school expects financial performance to improve and liquidity to stabilize in fiscal 2027, if unsuccessful, we could consider lowering the rating. "We consider Paterson's governance factors to be elevated due to its risk planning and financial management practices that have led to the rapid deterioration in fiscal 2025 financial performance, covenant violations, and significant depletion in reserves, which required near-term third-party support. This is somewhat mitigated by the school adding an in-house business manager and business office beginning in April 2026, along with additional internal controls. We view Paterson's environmental and social factors as neutral in our credit analysis. "The negative outlook reflects a one-in-three chance that we could lower the rating in the next year if Paterson is unable to structurally balance its operations and liquidity does not improve organically, absent support from its CMO. "We could lower the rating if financial performance doesn't stabilize and improve over the near-term, leading to weak maximum annual debt service (MADS) coverage and liquidity, and further covenant violations. We could also lower the rating if enrollment targets are not met or there are material declines. "We could revise the outlook to stable if Paterson can improve its financial operations, MADS coverage, and grow liquidity, while meeting budgeted enrollment targets and remaining in compliance with its bond covenants." COMPASS POWER: Moody's Affirms 'Ba3' Rating on Senior Secured Debt ------------------------------------------------------------------ Moody's Ratings has affirmed the Ba3 rating assigned to Compass Power Generation, LLC's (Compass) senior secured credit facilities, which includes the proposed upsizing of the senior secured term loan to $600 million. Concurrently, Moody's affirmed the Ba3 rating on the existing $85 million senior secured revolving credit facility that will be extended to October 2028. The rating outlook is stable. Compass will use the proceeds from the upsized term loan for a dividend recap to the sponsors. RATINGS RATIONALE The Ba3 rating affirmation reflects Moody's views that Compass Power Generation's (Compass) decision to upsize its senior secured term loan B to $600 million from $474 million will not materially weaken its credit profile. The amendment is expected to have a limited impact given Moody's expectations that credit metrics will remain robust, supported by sound pricing for both capacity and energy, at least in the near term. Compass' credit profile benefits from a high degree of capacity revenue certainty and the competitive generating profile of the Marcus Hook Energy Center (Marcus Hook). A significant portion of Compass' highly predictable revenue is derived from a 685 MW capacity contract between Long Island Power Authority (LIPA, A2 stable) and Marcus Hook, which extends through September 2030. Capacity revenues from this contract represent roughly 40% of Compass' consolidated EBITDA. Compass continues to report strong financial performance. In 2025, credit metrics, including debt/EBITDA of 4.1x, CFO/debt of 19%, and DSCR of 2.7x, remained strongly positioned within the Ba3 category. Going forward, Moody's expects somewhat weaker metrics due to the $126 million proposed term loan B upsize, although they will remain consistent with the Ba3 rating category. Over the next three years, Moody's expects CFO/debt to range from 10% to 14% and DSCR to range from 2.3x to 3.0x, supported by excess cash flow generation and gradual deleveraging through the 2029 maturity. These projections also incorporate the improved capacity pricing environment for power generators in PJM Interconnection, LLC (PJM, Aa2 stable), with pricing visibility through at least mid-2028 and an expectation that prices will remain at or near the $333/MW-day price cap through mid-2029. Credit constraints include the elevated consolidated debt load following the upsizing (approximately $627 million, including a $27 million term loan A at Marcus Hook), the portfolio's reliance on merchant power markets for deleveraging, lenders' second-lien position at the Marcus Hook asset, and refinancing risk, particularly in light of the expiration of the LIPA contract. RATING OUTLOOK The stable outlook reflects Moody's expectations for continued solid operational and financial performance, that will support expected deleveraging and project CFO/debt in the low-teens range and a DSCR close to 2.0x in the next three years following the upsizing. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS FACTORS THAT COULD LEAD TO AN UPGRADE The rating could be upgraded should Compass repay substantially greater debt than expected or if financial metrics improve dramatically such as consolidated project CFO/debt at 15% or higher and debt/EBITDA at less than 5x on a sustained basis. FACTORS THAT COULD LEAD TO A DOWNGRADE The rating could be downgraded should Compass' debt/EBITDA exceed 7.0x and consolidated project CFO/debt decline to below 9% on a sustained basis. LIST OF AFFECTED RATINGS Issuer: Compass Power Generation, LLC Affirmations: Senior Secured Bank Credit Facility, Affirmed Ba3 Outlook Actions: Outlook, Remains Stable The principal methodology used in these ratings was Power Generation Projects published in May 2026. The net effect of any adjustments applied to rating factor scores or scorecard outputs under the primary methodology(ies), if any, was not material to the ratings addressed in this announcement. PROFILE Compass directly owns Marcus Hook (921MW) in PJM Interconnection, L.L.C. (PJM: Aa2 stable), as well as Milford (215MW) and Dighton (185MW), both located in ISO New England (ISO-NE). Compass is owned 50/50 by subsidiaries of Electricity Generating Public Company Limited (EGCO Group) and JERA Co., Inc. JERA is an equal joint venture of two Japanese electric companies, Tokyo Electric Power Company Holdings, Inc. (Ba1 positive) and Chubu Electric Power Company, Incorporated (A3 stable). COSAMIA LLC: Court Extends Cash Collateral Access to June 23 ------------------------------------------------------------ The U.S. Bankruptcy Court for the Middle District of Florida, Orlando Division, entered a fourth interim order extending Cosamia, LLC's authority to use cash collateral. Under the fourth interim order, the Debtor is authorized to use cash collateral for court-approved payments and operating costs set forth in its weekly budget. This authorization remains effective through June 23, unless extended by agreement or court approval. The Debtor may exceed individual budget line items by up to 10%, and additional expenditures may be made if approved in writing by creditors. Any use of cash collateral outside these terms is prohibited. As protection, secured creditors will be granted replacement liens on post-petition cash collateral, with the same validity, priority, and extent as their pre-petition liens. The Debtor must also comply with all duties required of a debtor-in-possession under the Bankruptcy Code and maintain insurance coverage consistent with loan and security agreements. The order is entered without prejudice to the rights of parties in interest to seek additional protections or modifications regarding cash collateral use. A continued hearing is scheduled for June 23. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/9Ymc9 from PacerMonitor.com. Servicycles, LLC, a secured creditor, may hold a security interest in the Debtor's cash, cash equivalents, and accounts pursuant to UCC-1 financing statements filed in Florida. About Cosamia LLC Cosamia, LLC operates self-service laundromats, wash-dry-fold services, and laundry pickup and delivery across Miami-Dade and Broward Counties, with centralized management in Orange County, Florida. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 25-08239) on December 18, 2025. In the petition signed by Derek Williams, president and manager, the Debtor disclosed up to $50,000 in assets and up to $10 million in liabilities. Judge Lori V. Vaughan oversees the case. Daniel A. Velasquez, Esq., at Latham Luna Eden & Beaudine LLP, represents the Debtor as legal counsel. D&M KITCHEN: Gets Interim OK to Use Cash Collateral --------------------------------------------------- The U.S. Bankruptcy Court for the Eastern District of California granted interim approval for D&M Kitchen and Bath Supply Inc. to use cash collateral through June 16. Under the order, the Debtor may use cash collateral in accordance with the budget attached to its motion. As adequate protection, secured creditors were granted replacement liens on the Debtor's prepetition and post-petition assets of the same type, validity, and priority as their existing liens, but only to the extent any collateral value diminishes due to the Debtor's post-petition use of cash collateral. The replacement liens specifically exclude any Chapter 5 avoidance actions. The creditors asserting secured interests in the Debtor's proceeds and cash collateral through filed UCC financing statements are Newtek Bank, National Association, which filed a UCC-1 financing statement on May 1, 2023, later amended on June 2, 2023; CIITD Company, which filed a UCC-1 on February 9, 2024; and Nebula Financing LLC, which filed a UCC-1 on September 30, 2024. All parties preserve their rights under Bankruptcy Code Sections 506 and 552, including rights relating to secured claims and post-petition proceeds of collateral. A continued hearing on the Motion is set for June 16. About D&M Kitchen and Bath Supply Inc. D&M Kitchen and Bath Supply Inc is a licensed general contractor based in Stockton, California. The company provides kitchen and bathroom remodeling services, including cabinetry, flooring, and countertop installation, for residential customers in Stockton and surrounding Northern California communities. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Cal. Case No. 26-22570) on May 4, 2026.In the petition signed by Dennis Almeida, chief executive officer, the Debtor disclosed $3,304,500 in total assets and $5,607,643 in total liabilities. Judge Christopher D. Jaime oversees the case. Michael Jay Berger, Esq., at the Law Offices of Michael Jay Berger, represents the Debtor as bankruptcy counsel. DALTONBRIELLA LLC: Case Summary & One Unsecured Creditor -------------------------------------------------------- Debtor: DaltonBriella LLC c/o Kiley A. Webber 89 Vista Lake CIR Ponte Vedra, FL 32081 Business Description: DaltonBriella LLC owns residential condominium properties in coastal South Carolina, including units in Murrells Inlet and Myrtle Beach. The company's real estate holdings include properties on North Waccamaw Drive, South Kings Highway, 69th Avenue North and Shore Drive. Chapter 11 Petition Date: June 5, 2026 Court: United States Bankruptcy Court Middle District of Florida Case No.: 26-02564 Judge: Hon. Jason A Burgess Debtor's Counsel: Bryan K. Mickler, Esq. LAW OFFICES OF MICKLER & MICKLER, LLP 5452 Arlington Expy. Jacksonville FL 32211 Phone: (904) 725-0822 E-mail: bkmickler@planlaw.com Total Assets: $1,299,731 Total Liabilities: $984,800 The petition was signed by Kiley A. Webber as authorized managing member. The Debtor listed the Horry County Treasurer's Office, located at 1301 2nd Ave., Ste. 1C09, Conway, South Carolina, as its only unsecured creditor, with a $4,000 claim related to personal property taxes. A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/VA2D6BA/DALTONBRIELLA_LLC__flmbke-26-02564__0001.0.pdf?mcid=tGE4TAMA DAMIS HOLDINGS: Voluntary Chapter 11 Case Summary ------------------------------------------------- Lead Debtor: DAMIS Holdings LLC 50 Quality Street, #110357 Trumbull, CT 06611 Business Description: DAMIS Holdings is a New York-based real estate owner, operator, and investor founded in 2009. The company acquires, owns, manages, and invests in properties across commercial real estate, leisure properties, and summer camps. Its operations include property management, facility maintenance, day -to-day property operations, and guest services, serving tenants, guests, and campers. Chapter 11 Petition Date: June 4, 2026 Court: United States Bankruptcy Court District of New Jersey Ninety affiliates that concurrently filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code: Debtor Case No. ------ -------- DAMIS Holdings LLC (Lead Case) 26-16439 1101 East Glendale Boulevard Leasing LLC 26-16440 1135 East Chocolate Avenue Leasing LLC 26-16441 1101 East Glendale Boulevard Real Estate LLC 26-16442 1323 Augusta West Parkway Leasing LLC 26-16443 11200 West Florissant Avenue Leasing LLC 26-16444 1323 Augusta West Parkway Real Estate LLC 26-16445 11200 West Florissant Avenue Realty LLC 26-16446 1000 Acres Holdings, LLC 26-16447 1401 US Highway 49B Real Estate LLC 26-16448 12 Cambridge Drive Leasing LLC 26-16449 1912 Memorial Drive Real Estate LLC 26-16450 2203 Grand Canal Boulevard Leasing LLC 26-16451 2195 Harlem Road Leasing LLC 26-16452 2203 Grand Canal Boulevard Real Estate LLC 26-16453 12 Cambridge Drive Realty LLC 26-16454 1133 Northwest L Street Leasing LLC 26-16455 2195 Harlem Road Real Estate LLC 26-16456 194 Washington Avenue Leasing LLC 26-16457 194 Washington Avenue Real Estate LLC 26-16458 348 Morris Avenue Real Estate LLC 26-16459 5707 MacCorkle Avenue Real Estate LLC 26-16460 1133 Northwest L Street Real Estate LLC 26-16461 5707 MacCorkle Avenue Leasing LLC 26-16462 1600 Eastchase Parkway Leasing LLC 26-16463 1600 Eastchase Parkway Real Estate LLC 26-16464 250 Progressive Leasing LLC 26-16465 Splashdown Beach Landco LLC 26-16466 201 Centre Drive Leasing LLC 26-16467 2302 Windsong Drive Leasing LLC 26-16468 2974 Coppercreek Road Leasing LLC 26-16469 2434 South Interstate 35E Leasing LLC 26-16470 201 Centre Drive Real Estate LLC 26-16471 200 Great Pond Drive Leasing LLC 26-16472 2434 South Interstate 35E Real Estate LLC 26-16473 3385 Newmark Drive LLC 26-16474 400 Greens Road Leasing LLC 26-16475 250 Progressive Real Estate LLC 26-16476 400 Greens Road Real Estate LLC 26-16477 45 Commerce Drive Leasing LLC 26-16478 44 Southpoint Drive Leasing LLC 26-16479 45 Commerce Drive Real Estate LLC 26-16480 200 Great Pond Drive Real Estate LLC 26-16481 4650 Westway Park Boulevard Leasing LLC 26-16482 7335 Gladiolus LLC 26-16483 4800 USH 280 Leasing LLC 26-16484 771 Corporate Drive Real Estate LLC 26-16485 East Hartford Properties Leasing LLC 26-16486 4800 USH 280 Real Estate LLC 26-16487 4650 Westway Park Boulevard Real Estate LLC 26-16488 771 Corporate Drive Leasing LLC 26-16489 90 Pleasant Valley Street Leasing LLC 26-16490 East Hartford Properties Real Estate LLC 26-16491 DASMAS Landco LLC 26-16492 90 Pleasant Valley Street Real Estate LLC 26-16493 Matteson Center Leasing LLC 26-16494 Oklahoma Wilshire Lofts Real Estate LLC 26-16495 Catskill Wine and Food Festival LLC 26-16496 Matteson Center Real Estate LLC 26-16497 Montclair Condo Holdings LLC 26-16498 Rocking Horse Ranch Landco LLC 26-16499 Oklahoma Wilshire Lofts Leasing LLC 26-16500 Rocking Horse Ranch Operatingco LLC 26-16501 DAMIS Venture LLC 26-16502 South Loop West Leasing LLC 26-16503 WG Operatingco LLC 26-16504 Southwest Ohio Associates LLC 26-16505 Woodlands Eagle Timber Leasing LLC 26-16506 Fairplain Plaza Leasing LLC 26-16507 Fairplain Plaza Real Estate LLC 26-16508 Splashdown Beach Operatingco LLC 26-16509 Highland Park Partners LLC 26-16510 Stony Creek Operating Co, LLC 26-16511 South Loop West Real Estate LLC 26-16512 Secondary Paragould LLC 26-16513 Turnpike Road Holdings LLC 26-16514 SIMAD Holdings LLC 26-16515 2547 Brindle Drive Leasing LLC 26-16516 149 Emerald Street Leasing LLC 26-16517 SIMAD Venture LLC 26-16518 3413 Tittabawassee Road Leasing LLC 26-16519 149 Emerald Street Real Estate LLC 26-16520 2547 Brindle Drive Real Estate LLC 26-16521 3413 Tittabawassee Road Real Estate LLC 26-16522 4200 Park Avenue Leasing LLC 26-16523 4328 Bay Road Leasing LLC 26-16524 4328 Bay Road Real Estate LLC 26-16525 830 County Road 64 Leasing LLC 26-16526 830 County Road 64 Real Estate LLC 26-16527 Belmont Apartment Partners LLC 26-16528 Judge: Hon. Christine M Gravelle Debtors' Counsel: Michael D. Sirota, Esq. COLE SCHOTZ P.C. 25 Main Street Hackensack NJ 07601 Tel: (201) 489-3000 E-mail: msirota@coleschotz.com Debtors' Restructuring & Bankruptcy Counsel: Michael D. Sirota, Esq. Warren A. Usatine, Esq. David M. Bass, Esq. Felice R. Yudkin, Esq. Daniel J. Harris, Esq. COLE SCHOTZ P.C. Court Plaza North, 25 Main Street Hackensack, New Jersey 07601 Tel: (201) 489-3000 Email: msirota@coleschotz.com wusatine@coleschotz.com dbass@coleschotz.com fyudkin@coleschotz.com dharris@coleschotz.com Debtors' Financial Advisor & Investment Banker: B. RILEY SECURITIES, INC. Debtos' Notice, Claims, Solicitation, Balloting & Administrative Agent: KROLL RESTRUCTURING ADMINISTRATION LLC Estimated Assets (on a consolidated basis): $100 million to $500 million Estimated Liabilities (on a consolidated basis): $500 million to $1 billion The petitions were signed by Perry M. Mandarino as chief restructuring officer. The petitions were filed without the Debtors' lists of their 20 largest unsecured creditors. A full-text copy of the Lead Debtor's petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/TYK4M4A/DAMIS_Holdings_LLC__njbke-26-16439__0001.0.pdf?mcid=tGE4TAMA DAYTONA THUNDER: Court Extends Cash Collateral Access to Aug. 6 --------------------------------------------------------------- Daytona Thunder, LLC received another extension from the U.S. Bankruptcy Court for the Middle District of Florida, Orlando Division to use cash collateral. At the June 11 hearing, the court extended the Debtor's authority to use cash collateral from June 11 to August 6. The Debtor offers to grant secured creditors adequate protection through post-petition replacement liens on cash collateral, with the same validity, priority, and extent as their pre-petition liens. Additional safeguards include insurance coverage in accordance with the Debtor's loan agreements with secured creditors. As of the petition date, Daytona Thunder held approximately $4,172 in a deposit account at TD Bank, and its future earnings may be subject to asserted liens. Creditors that may claim senior secured liens on cash collateral are LSC2025, LLC and Shaf International, Inc., which are owed $2,296,161.42 and $1.75 million, respectively. About Daytona Thunder LLC Daytona Thunder, LLC, a company based in Daytona Beach, Fla., sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 25-07885) on December 11, 2025, with between $1 million and $10 million in both assets and liabilities. Judge Grace E. Robson oversees the case. The Debtor is represented by: Jeffrey Ainsworth Bransonlaw PLLC Tel: 407-894-6834 Email: jeff@bransonlaw.com DELANI CONSTRUCTION: Gets Extension to Access Cash Collateral ------------------------------------------------------------- The U.S. Bankruptcy Court for the Northern District of Illinois, Eastern Division, granted Delani Construction, LLC an extension to use cash collateral to fund operations. Under the court order, the Debtor is authorized to use cash collateral through July 24 in accordance with its 60-day budget outlining anticipated income and expenses. The extension is subject to the same terms and conditions set forth in the court's prior March 18 order, including adherence to the approved budget. No new modifications were introduced, and the earlier order remains fully in effect. The next hearing is set for July 22. The deadline for filing objections is on July 20. The order is available at https://shorturl.at/eqnUW from PacerMonitor.com. A copy of the Debtor's budget is available at https://shorturl.at/5M51O from PacerMonitor.com. About Delani Construction LLC Delani Construction, LLC is a construction firm based in Monee, Illinois, specializing in residential construction, including single-family homes, home additions, and remodeling. It operates locally as a general contractor, providing services such as framing, excavation, and site work. Delani Construction sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 26-01384) on January 27, 2026. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million. Judge David D. Cleary oversees the case. The Debtor is represented by Saulius Modestas, Esq., Modestas Law Offices, P.C. DELTA ACADEMY: S&P Assigns 'BB' LT Rating on 2026 Revenue Bonds --------------------------------------------------------------- S&P Global Ratings assigned its 'BB' long-term rating to Public Finance Authority's approximately $27.58 million series 2026 charter school revenue bonds issued for the Delta Academy (Delta), Nevada. The outlook is stable. S&P said, "We analyzed the school's environmental, social, and governance factors and consider them neutral in our credit rating analysis. "The stable outlook reflects our expectation that the school will at least maintain steady enrollment, with the potential to add students throughout the school year, as it has historically, to support MADS coverage that we consider sufficient and in line with the rating and that of its peers. The stable outlook also reflects our expectation that the school will improve upon its historical one-star ratings and raise academic outcomes. "We could consider a negative rating action if enrollment further declines, lease-adjusted MADS coverage does not improve as expected in fiscal 2027, or if academic improvement or a higher star rating do not materialize, pressuring its charter standing. "We could consider a positive rating action if enrollment growth and stability are accompanied by improvements in academic performance that result in a higher star rating, while growth to healthier lease-adjusted MADS coverage and return to more robust cash levels support a stronger financial profile for a higher rating." DITECH HOLDING: Court Upholds Dismissal of Lopez-Farooq Complaint ----------------------------------------------------------------- Presiding Justice Frances Rotschild, Associate Justice Michelle C. Kim and Associate Justice Hel I. Bendix of the California Second District Court of Appeal denied Mylene Lopez-Farooq and Ibrahim Farooq's petition to set aside the dismissal of their complaint for delay in prosecution in the case captioned as MYLENE LOPEZ-FAROOQ et al., Petitioners, v. THE SUPERIOR COURT OF LOS ANGELES COUNTY, Respondent; BANK OF AMERICA, N.A., et al., Real Parties in Interest, B330207 (Cal. Ct. App.). Mylene Lopez-Farooq and Ibrahim Farooq (collectively Lopez-Farooq) appeal from the trial court's dismissal of their action with prejudice for delay in prosecution. On September 25, 2017, Lopez-Farooq filed the original complaint in this action against Bank of America, N.A.; Ditech Financial, LLC (Ditech) (alleged to have done business under the name Green Tree Servicing, LLC); Clear Recon Corp.; and Doe defendants. In addition to damages, the complaint sought an injunction to prevent foreclosure of Lopez-Farooq's residential real property in Santa Clarita. In November 2018, Lopez-Farooq filed a first amended complaint. On February 20, 2019, having received notice that Ditech had filed for Chapter 11 bankruptcy, the trial court ordered the action stayed pending the resolution of the bankruptcy. The court's minute order stated that the court stayed the action "in its entirety." The trial court heard Lopez-Farooq's requests for relief during the stay and granted some of them. In February 2022, Lopez-Farooq filed her operative second amended complaint against the original defendants as well as LoanCare, LLC; ServiceLink Title Company; JT Legal Group; Green Tree Servicing, LLC; and Lawyers Title Co. In August 2022, Lopez-Farooq amended the complaint to substitute Breckenridge Property Fund 2016, LLC (Breckenridge), for Doe no. 1. On April 26, 2021, the trial court lifted the stay and granted Ditech's motion to dismiss Lopez-Farooq's claims against it. The trial court found that Ditech had obtained a bankruptcy discharge as to Lopez-Farooq's claims, and that Lopez-Farooq had "willfully and deliberately refused to comply" with an order of the bankruptcy court requiring her to dismiss her claims against Ditech. The trial court later found that Lopez-Farooq's noncompliance with the bankruptcy court's order was a willful and deliberate tactic to delay the prosecution of this action. In June 2022, the trial court scheduled a March 2023 hearing on an order to show cause regarding dismissal for delay in prosecution under Code of Civil Procedure section 583.310 et seq. (the mandatory-dismissal statutes). After the March 2023 hearing, the trial court dismissed the action with prejudice, concluding that the mandatory-dismissal statutes required dismissal because Lopez-Farooq failed to bring the action to trial within five years and six months. In the alternative, the trial court exercised its discretion to dismiss the action under section 583.410 et seq. (the discretionary-dismissal statutes), which permit dismissal if an action is not brought to trial within two years and the circumstances warrant dismissal. On May 8, 2023, Lopez-Farooq filed a notice of appeal from the trial court's March 29, 2023 minute order dismissing the action. Lopez-Farooq argues that the trial court erred by dismissing the action for delay in prosecution under the mandatory-dismissal statutes. Lopez-Farooq also argues that the trial court erred by ordering the dismissal to be with prejudice. The panel concludes that "by failing to present any reasoned argument regarding the trial court's discretionary dismissal under sections 583.410 and 583.420, Lopez-Farooq forfeited her argument that the trial court erred by dismissing the action for delay in prosecution." The panel holds, "Because Lopez-Farooq fails to meet her burden to show that the trial court abused its discretion by dismissing the action under the discretionary-dismissal statutes, we deny her petition for a writ of mandate to set aside the dismissal. However, because we agree with Lopez-Farooq that the dismissal statutes required the dismissal to be without prejudice, we issue a writ of mandate directing the trial court to modify the dismissal from a dismissal with prejudice to a dismissal without prejudice." A copy of the Court's Opinion dated May 29, 2026, is available at http://urlcurt.com/u?l=QIWTi2 About Ditech Holding Corporation Ditech Holding Corporation and its subsidiaries -- http://www.ditechholding.com/-- were an independent servicer and originator of mortgage loans. Based in Fort Washington, Pennsylvania, the Debtors serviced a diverse loan portfolio. Ditech Holding and certain of its subsidiaries, including Ditech Financial LLC and Reverse Mortgage Solutions, Inc., filed voluntary Chapter 11 petitions (Bankr. S.D.N.Y. Lead Case No. 19 10412) on Feb. 11, 2019, after reaching terms with lenders of a Chapter 11 plan that will reduce debt by $800 million. The Debtors tapped Weil, Gotshal & Manges LLP as legal counsel, Houlihan Lokey as investment banker and AlixPartners LLP as financial advisor. Epiq Bankruptcy Solutions LLC served as claims and noticing agent. Kirkland & Ellis LLP and FTI Consulting Inc. served as the consenting term lenders' legal counsel and financial advisor, respectively. The U.S. Trustee for Region 2 appointed an official committee of unsecured creditors in the Debtors' cases on Feb. 27, 2019. The creditors' committee tapped Pachulski Stang Ziehl & Jones LLP as its legal counsel and Goldin Associates, LLC, as its financial advisor. On May 2, 2019, the U.S. trustee appointed an official committee of consumer creditors. The consumers committee tapped Quinn Emanuel Urquhart & Sullivan, LLP, as counsel and TRS Advisors LLC, as financial advisor. On Sept. 26, 2019, the Bankruptcy Court confirmed Ditech's Chapter 11 bankruptcy plan, which became effective four days later. DIVERSIFIED MASONRY: Court Court Partially Allows Attorney's Fees ----------------------------------------------------------------- Judge Thomas B. McNamara of the U.S. Bankruptcy Court for the District of Colorado granted in part and denied in part the first and final application for allowance of compensation and reimbursement of expenses of Michael Best & Friedrich LLP, as counsel for Diversified Masonry, LLC. Michael Best & Friedrich LLP sought payment of fees for services and reimbursement of costs incurred between October 1, 2025 and February 24, 2026. The application is granted and the the Applicant is allowed final fees in the amount of $40,299.00 and costs in the amount of $2,449.00, for a total of $42,748.00. All fees and expenses prior to October 8, 2025 are disallowed. According to Judge McNamara, in Lazzo v. Rose Hill Bank (In re Schupbach Investments, L.L.C.), the Tenth Circuit Court of Appeals held that retroactive approval of an attorney's employment is only appropriate in the most extraordinary circumstances and that simple neglect will not justify nunc pro tunc approval. The Applicant has sought nunc pro tunc approval of its employment to the petition date but has not identified any extraordinary circumstances in support of such request. Under Schubpach, the Court cannot approve Applicant's employment prior to October 8, 2025, the date when the application was filed. Accordingly, the Court cannot allow retroactive approval of employment and attorney's fees for the period from October 1, 2025 to October 7, 2025. Thus, the Court has deducted $782.50 in attorney's fees billed by the Applicant from October 1, 2025 to October 7, 2025. The Applicant may draw on the funds it holds in trust under the Court's Interim Payment Procedures Order in the amount of $19,506.46 pay the fees and expenses. The Debtor is authorized to pay the fees and expenses, to the extent unpaid. A copy of the Court's Order dated June 5, 2026, is available at https://urlcurt.com/u?l=lf8kqr from PacerMonitor.com. About Diversified Masonry Diversified Masonry, LLC in Denver, Colo., manufactures commercial and residential stone, stucco, brick and block for national builders, local municipalities and residential clients. Diversified Masonry filed its voluntary petition for Chapter 11 protection (Bankr. D. Colo. Case No. 24-11578) on April 3, 2024, listing $1,983,868 in assets and $2,685,778 in liabilities. Dev Mahanti as manager/member, signed the petition. Judge Thomas B. Mcnamara oversees the case. Allen Vellone Wolf Helfrich & Factor P.C. serves as the Debtor's legal counsel. DURTY DEVILZ: Holly Miller Named Subchapter V Trustee ----------------------------------------------------- The U.S. Trustee for Regions 3 and 9 appointed Holly Miller, Esq., at Gellert Scali Busenkell & Brown, LLC as Subchapter V trustee for Durty Devilz Property Investments LLC. Ms. Miller will be paid an hourly fee of $500 for her services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Ms. Miller declared that she is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Holly S. Miller, Esq. Gellert Scali Busenkell & Brown, LLC 1628 John F. Kennedy Boulevard, Suite 1901 Philadelphia, PA 19103 Telephone: (215) 238-0012 Facsimile: (215) 238-0016 Email: hsmiller@gsbblaw.com About Durty Devilz Property Investments LLC Durty Devilz Property Investments, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Pa. Case No. 26-12385) on June 1, 2026, with $1,000,001 to $10 million in assets and $0 to $50,000 in liabilities. Judge Ashely M. Chan presides over the case. Demetrius J. Parrish, Esq. at The Law Offices Of Demetrius J. Parrish represents the Debtor as bankruptcy counsel. EASTSIDE COLLISION: Tamara Miles Ogier Named Subchapter V Trustee ----------------------------------------------------------------- The Acting U.S. Trustee for Region 21 appointed Tamara Miles Ogier, Esq., at Ogier, Rothschild & Rosenfeld, PC as Subchapter V trustee for Eastside Collision & Car Care Center, Inc. Ms. Ogier will be paid an hourly fee of $475 for her services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Ms. Ogier declared that she is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Tamara Miles Ogier, Esq. Ogier, Rothschild & Rosenfeld, PC P.O. Box 1547 Decatur, GA 30031 Phone: (404) 525-4000 About Eastside Collision & Car Care Center Inc. Eastside Collision & Car Care Center Inc. provides automotive collision repair, body, paint and car-care services from Lithonia, Georgia. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ga. Case No. 26-57078) on May 29, 2026, with $1 million to $10 million in both assets and liabilities. Brian Young, chief executive officer, signed the petition. Adam E. Ekbom, Esq., at Jones & Walden, LLC represents the Debtor as legal counsel. EAZY-PZ LLC: Gets OK to Use Cash Collateral ------------------------------------------- The U.S. Bankruptcy Court for the District of Colorado entered a third order authorizing Eazy-PZ LLC to continue using cash collateral. The court's order authorized the Debtor's interim use of cash collateral in accordance with its budget through the date of the final hearing. The Debtor must only expend cash collateral pursuant to the budget, subject to reasonable fluctuation by no more than 10% for each expense line item per month, according to the court order. As protection for any diminution in the value of their interest in the cash collateral, the U.S. Small Business Administration and other secured creditors will be granted replacement liens on the proceeds of the Debtor's post-petition accounts. The replacement liens do not apply to any Chapter 5 claim. In addition, the Debtor was ordered to keep its personal property insured. As further protection to SBA, the Debtor will continue its monthly loan payments to the agency as per the budget. As of the petition date, the Debtor held approximately $36,000 in various bank accounts, which constitutes cash collateral primarily subject to a perfected lien held by SBA under an Economic Injury Disaster Loan. WebBank may claim a secondary lien through a merchant loan agreement but did not perfect its lien by filing a UCC-1, which the Debtor may challenge under Chapter 5 of the Bankruptcy Code. The SBA is owed approximately $485,000, and WebBank about $23,000. The Debtor's additional assets that may be converted to cash collateral during the case include about $733,000 in accounts receivable and $251,000 in inventory. About Eazy-PZ LLC Eazy-PZ LLC designs and sells silicone mealtime products for infants and toddlers, including plates, bowls, mats, and utensils. The Company operates through online and retail channels from its base in Parker, Colorado. Eazy-PZ LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Col. Case No. 25-13720) on June 18, 2025. In its petition, the Debtor reports total assets of $1,019,774 and total liabilities of $3,881,257. Honorable Bankruptcy Judge Thomas B. Mcnamara handles the case. The Debtors are represented by Aaron J. Conrardy, Esq. at WADSWORTH GARBER WARNER CONRARDY, P.C. EL DORADO: Tenant Has Until June 18 to Vacate Estate Property ------------------------------------------------------------- Judge Jamie A. Wilson of the U.S. Bankruptcy Court for the Southern District of Mississippi granted the motion of Dawn M. Ragan, the chapter 11 trustee for El Dorado Gas & Oil, Inc., for approval of an agreed order with Kenneth Denton to aid in receiving estate property. The Court has reviewed the agreement that provides for Mr. Denton, who has been occupying estate property located at 319 Hiern Ave., Pass Christian, MS 39571, to pay the sum of $1,000 for him, his family and guests to remain in the property until June 18, 2026, at which time he and his family and guests shall vacate such premises. Mr. Denton declined to enter into a lease and Ms. Ragan needs to liquidate the property. Failure by Mr. Denton to make the $1,000 payment by June 5, 2026, or to completely vacate by June 18, 2026, or vacating the property with any damage in excess of the property condition identified on a prior video tour of the property, constitutes default of the agreement and Ms. Ragan may seek all damages and unpaid rent and penalties. A copy of the Court's Order dated June 5, 2026, is available at https://urlcurt.com/u?l=5CMzxL from PacerMonitor.com. R. Michael Bolen, Esq. HOOD & BOLEN, PLLC ATTORNEYS AT LAW 3770 HWY. 80 WEST JACKSON, MISSISSIPPI 39209 Telephone: (601) 923-0788 E-mail: rmb@hoodbolen.com Counsel to Dawn M. Ragan, Chapter 11 Trustee: Nancy Ribaudo, Esq. Kathenne T. Hopkins, Esq. KELLY HART & HALLMAN LLP 201 Main St.. Ste. 2500 Fort Worth, TX 76102 Telephone: (817) 332-2500 Facsimile: (817) 878-9280 E-mail: nancy.ribaudo@kellyhart.com katherine.hopkins@kellyhart.com About El Dorado Gas & Oil Inc. and Hugoton Operating Company Hugoton and El Dorado are both Arkansas corporations engaged in the exploration, production, and development of crude oil and natural gas properties. El Dorado is a lease holder and operator of oil and gas wells covering about 4,000 net acres in South Texas. El Dorado also owns a substantial amount of oil field equipment and owns real estate in multiple locations and states. Hugoton also owns oil and gas interests and operates wells in South Texas. Hugoton Operating Company, Inc. filed a voluntary Chapter 11 petition (Bankr. S.D. Miss. Case No. 23-51139) on Aug. 14, 2023. El Dorado Gas & Oil, Inc., a company in Gulfport, Miss., filed Chapter 11 petition (Bankr. S.D. Miss. Case No. 23-51715) on Dec. 22, 2023, with $500 million to $1 billion in assets and $50 million to $100 million in liabilities. Thomas L. Swarek, president, signed the petition. Judge Jamie A. Wilson oversees the cases. Patrick Sheehan, Esq., at Sheehan & Ramsey, PLLC, is counsel to Debtor Bluestone Natural Resources II-South Texas, LLC and World Aircraft, Inc. R. Michael Bolen, Esq., at Hood & Bolen, PLLC; and Nancy Ribaudo, Esq., Katherine Hopkins, Esq., and Joseph Austin, Esq., at Kelly Hart & Hallman LLP, serve as counsel to Dawn Ragan, Chapter 11 Trustee for El Dorado Gas & Oil, Inc. and Hugoton Operating Company, Inc. ELITA 7 LLC: Claims to be Paid from Asset Sale Proceeds ------------------------------------------------------- Elita 7 LLC and Victoria Light LLC filed with the U.S. Bankruptcy Court for the District of Massachusetts a Chapter 11 Plan of Liquidation dated May 29, 2026. The Debtors have operated the Donna Kay Rest Home located at 16 Myrtle Street, Worcester, Massachusetts since 2008. The Rest Home has capacity for 60 patients, most of whom are government pay. The Debtors had been operating profitably until the COVID Pandemic which caused the business to suffer financial losses. The Debtors have also been plagued by delays in payments from the Commonwealth of Massachusetts. The Debtors had the US Small Business Administration as their primary lender. The Debtors refinanced a bridge loan with DMT SPE which was supposed to be a short term loan. The Debtor was unable to make the payments to DMT which led to the bankruptcy filing. Secured Lender DMT brought suit in Suffolk Superior Court seeking the appointment of a receiver. The Debtors believed it was in the best interest of its creditors to seek relief under Chapter 11 in order to facilitate and orderly sale of the rest home. The General Unsecured Claims of against the Debtor total approximately $532,000 including reclassified Merchant Cash Advance Claims. In addition, there is an estimated claim filed by the Massachusetts Department of Industrial Accidents filed in the amount of $1,426,408.00 for the Debtors' failure to maintain workers compensation insurance for a short period of time. The Debtors employed Senior Living Investment Brokerage ("SLIB") as broker to market the Rest Home for sale. SLIB marketed the property extensively and generated an offer for $6,500,000 for the sale of the rest home. The Debtor completed the sale to a counteroffer for the sum of $6,850,000 and received a $65,000 carveout from the sale proceeds in additional to funds available to pay Chapter 11 administrative claims. Class 7 consists of the Allowed General Unsecured Claims against the Debtor. Each holder of an Allowed Class 4 Claim shall receive a pro rata distribution of the one percent of sale price of the Real Property as provided for by the Carve-Out after payment of the Priority Tax Claims, and the Other Priority Claims (if any). In addition, each holder of an Allowed Class 4 Claim Class 4 shall receive pro rata distribution (up to payment in full) of all money remaining in the Estate, including from the Net Proceeds remaining, if any, after payment in full of the Lender Secured Claim. All distributions on account of Class 7 Claims shall be made as soon as is practicable after the bar date for rejection damages Claims, as provided in section 5.2 of the Plan. Class 4 is Impaired under the Plan. Each holder of an Allowed Class 4 Claim, if any, is entitled to vote to accept or reject the Plan. Class 5 consists of the holders of all Interests in the Debtor. A holder of a Class 5 Interest will neither receive nor retain anything on account of such Interest in the Debtor. On the Effective Date, all Interests shall be cancelled, extinguished, and discharged. The Plan contains appropriate provisions consistent with sections 1123(a)(5) and 1142(a) of the Bankruptcy Code for its implementation. The funds needed to make distributions and other payments required by this Plan shall be from (a) the proceeds related to the sale of the Real Property, and (b) any funds remaining in the Estate from operating of the Real Property prior to the sale or any other sources. The Debtors sold their Rest Home on April 17, 2026. The Sale proceeds were not sufficient to pay secured lender DMT in full so the estate received a carveout for professional fees and a 1% carveout for the benefit of the estate. A full-text copy of the Liquidating Plan dated May 29, 2026 is available at https://urlcurt.com/u?l=WYINbv from PacerMonitor.com at no charge. Counsel to the Debtor: John O. Desmond, Esq. 5 Edgell Road, Suite 30A Framingham, MA 01701 Telephone: (508) 879-9638 Email: attorney@jdesmond.com About Elita 7 and Victoria Light Elita 7, LLC, operates a 60-bed Rest Home located at 16 Marble Street, Worcester, Mass. Elita 7 and its affiliate, Victoria Light, LLC, filed Chapter 11 petitions (Bankr. D. Mass. Lead Case No. 24-41303) on December 20, 2024. At the time of the filing, the Debtors reported $1 million to $10 million in both assets and liabilities. Judge Elizabeth D. Katz oversees the cases. John O. Desmond, Esq., is the Debtors' legal counsel. Secured lender DMT SPE I, LLC is represented by: Douglas K. Clarke, Esq. Riemer & Braunstein, LLP 100 Cambridge Street, 22nd Floor Boston, MA 02114-2527 Phone: (617) 880-3485 Fax: (617) 692-3485 Email: dclarke@riemerlaw.com ENGLEWOOD CAR: Michael Markham Named Subchapter V Trustee --------------------------------------------------------- The Acting U.S. Trustee for Region 21 appointed Michael Markham, Esq., as Subchapter V trustee for Englewood Car Wash, Inc. Mr. Markham, a partner at Johnson Pope Bokor Ruppel & Burns, LLP, 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. Markham declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Michael C. Markham, Esq. Johnson Pope Bokor Ruppel & Burns, LLP 401 E. Jackson Street, Suite 3100 Tampa, FL 33602 Phone: (727) 480-5118 Mikem@jpfirm.com About Englewood Car Wash Inc. Englewood Car Wash, Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 26-04741) on June 2, 2026, with $0 to $50,000 in assets and liabilities. Richard John Cole, III, Esq. at Cole & Cole Law, P.A. represents the Debtor as legal counsel. EPIC COMPANIES: Loses Summary Judgment Bid in EPIC Gateway Case --------------------------------------------------------------- Judge William J. Fisher of the U.S. Bankruptcy Court for the District of North Dakota denied the motion for summary judgment of EPIC Companies Midwest, LLC, EPIC Companies Midwest 2023, LLC, EOLA Capital, LLC, and EC West Fargo, LLC as to fraudulent transfer claims in the adversary proceeding captioned as EPIC Companies Midwest, LLC, EPIC Companies Midwest 2023, LLC, EOLA Capital, LLC, and EC West Fargo, LLC, Plaintiffs, v. EPIC Gateway LLC, EPIC Gateway North Real Estate Holdings, LLC, and Gateway Arches Real Estate Holdings, LLC f/k/a EPIC Gateway East Real Estate Holdings, LLC, Defendants, Adv. Proc. No. 25-07008 (Bankr. N.D.). This adversary proceeding will be set on for a jury trial in the U.S. District Court for the District of North Dakota. On March 16, 2026, this adversary proceeding came before the Court on the Plaintiffs' motion for summary judgment as to fraudulent transfer claims. The EPIC Companies are affiliated entities that engaged in real estate development throughout North Dakota. On July 8, 2024, several of the EPIC Companies filed petitions under Chapter 11. Those cases were jointly administered and substantively consolidated, and the Debtors' Amended Chapter 11 Plan of Liquidation was confirmed on August 6, 2025. This is one of the many adversary proceedings arising out of the EPIC Companies' business transactions. Plaintiffs EPIC Companies Midwest, LLC ("EPIC Midwest"); EPIC Companies Midwest 2023, LLC ("EPIC 2023"); EOLA Capital, LLC ("EOLA"); and EC West Fargo, LLC ("ECW") are four of the EPIC Companies that are debtors in the Chapter 11 cases. The EPIC Companies also formed separate entities -- so-called "project companies" -- for each property or parcel of land being developed. Defendants EPIC Gateway, LLC ("Gateway"); EPIC Gateway North Real Estate Holdings, LLC ("Gateway North"), and Gateway Arches Real Estate Holdings, LLC ("Gateway Arches") are three of those project companies. In this case, the Defendants allegedly received (and failed to repay) loans from the Plaintiffs. EPIC Midwest made loans to Gateway North and Gateway Arches; EPIC 2023 made loans to Gateway Arches and Gateway; and EOLA and EC West made loans to Gateway Arches. During the first months of this adversary proceeding, there was a dispute over jury trial rights and the validity of the related promissory notes, which contained a jury trial waiver. However, the parties ultimately stipulated to dismissal of the contract claims under the notes. The parties' proposed order stated that "this matter shall be set on for a jury trial." In this summary judgment motion, the Plaintiffs now seek summary judgment on Counts XXV–XXXVII of the Complaint. In Counts XXX and XXXIII, the Plaintiffs seek to avoid and recover constructively fraudulent transfers under 11 U.S.C. Secs. 548(a)(1) and 550(a). In Counts XXV–XXIX, XXXI–XXXII, and XXXIV–XXXVII, the Plaintiffs seek to avoid and recover constructively fraudulent transfers under the North Dakota Uniform Voidable Transfers Act pursuant to 11 U.S.C. Secs. 544(b) and 550(a). The statutory language differs slightly, but both theories require the Plaintiffs to show that the Plaintiffs received less than reasonably equivalent value for transfers made while insolvent (among other statutory indicia). Based largely on financial analysis conducted by Patrick Finn (the Plaintiffs' Chief Restructuring Officer and Liquidating Trustee), the Plaintiffs argue there is no genuine factual dispute that the Plaintiffs transferred funds to the Defendants and received less than reasonably equivalent value for the transferred funds. The Plaintiffs further argue there is no genuine factual dispute that: (1) the Plaintiffs had or were left with unreasonably small assets at the time of the transfers; (2) the Plaintiffs were unable to pay their debts due to the transfers; and (3) the Plaintiffs were or became insolvent at the time of the transfers. (The Plaintiffs argue they have shown all three of these facts, but the statutes only require the Plaintiffs to show one.) Therefore, the Plaintiffs argue they are entitled to judgment as a matter of law. The Defendants argue that: (1) the stipulation dismissing the contract claims required this adversary proceeding to be set on for a jury trial; (2) the Court's scheduling order required this adversary proceeding to be trial-ready by December 2025; and (3) this motion is untimely under Federal Rule of Civil Procedure 56. Therefore, the Defendants argue the Court should not consider the motion's merits. Alternatively, the Defendants argue that there are several fact issues and defenses that preclude summary judgment. The Defendants argue that: (1) the nature of the relevant transfers is unclear; (2) the Plaintiffs have not established a lack of reasonably equivalent value for each transfer; (3) the Plaintiffs did not establish the size of their assets at the time of each transfer; (4) the Plaintiffs did not establish that debts went unpaid as a result of the transfers; and (5) the Plaintiffs' insolvency analysis was logically flawed, not specific to the dates of the transfers, relies solely on Finn's reports, and is contradicted by other documents that Finn prepared and signed. The Defendants also assert various affirmative defenses. Therefore, the Defendants argue summary judgment is inappropriate. Both the North Dakota statute and Section 548 exclude fraudulently transferred assets when assessing insolvency. Similar to the Section 548 claims, the Plaintiffs argue Finn's analysis establishes insolvency, inadequate capital, and an inability to pay debts as they became due under the North Dakota statute. As the moving party, the Plaintiffs bear the burden of proof and -- with respect to the Plaintiffs' insolvency -- rely entirely on Finn's analysis to carry that burden. The Defendants challenge Finn's objectivity and argue Finn's opinions are flawed and contradicted by the Plaintiffs' bankruptcy schedules (which Finn signed). The Court concludes because the Plaintiffs cannot carry their burden of proof without Finn's analysis, these are genuine issues of material fact for a jury to resolve. Gateway Arches' Treasurer and Vice President, Kyle Oetker, states that the EPIC companies exercised exclusive control over Gateway Arches' operations and finances. Oetker states that the EPIC companies made various payments or transfers of Gateway Arches' funds for purposes unrelated to the company's operations. This suggests Gateway Arches may have been a mere conduit and, thus, not a transferee under Section 550(a). Similarly, a reasonable jury examining the Gateway Arches' bank records could find that the Gateway Arches was a mere conduit. Drawing all reasonable inferences in favor of Gateway Arches, a reasonable jury could conclude that Gateway Arches never did more than possess these funds for several days before "directing them on to a further transferee" for purposes unrelated to Gateway Arches' business. A jury, and not the Court, should make that determination. The Court finds Plaintiffs' summary judgment motion is procedurally improper and, therefore, denied. Even if the Court reaches the merits, genuine issues of material fact preclude summary judgment. A copy of the Court's Order dated June 3, 2026, is available at http://urlcurt.com/u?l=hWbv2xfrom PacerMonitor.com. About EPIC Companies Midwest EPIC Companies Midwest, LLC is a real estate investing and development firm in Minot, N.D. EPIC and its affiliates filed voluntary Chapter 11 petitions (Bankr. D.N.D. Lead Case No. 24-30281) on July 8, 2024. Patrick Finn, chief restructuring officer, signed the petitions. At the time of the filing, EPIC reported $10 million to $50 million in both assets and liabilities. Judge Shon Hastings oversees the cases. Steven Kinsella, Esq., at Fredrikson & Byron, PA represents the Debtors as legal counsel. The U.S. Trustee for Region 12 appointed an official committee to represent unsecured creditors in the Debtors' Chapter 11 cases. The committee is represented by the law firm of Stinson, LLP. EPIC COMPANIES: Loses Summary Judgment Bid in Sheyenne 32 Case -------------------------------------------------------------- Judge William J. Fisher of the U.S. Bankruptcy Court for the District of North Dakota denied the motion for summary judgment of EPIC Companies Midwest 2023, LLC, and EOLA Capital, LLC as to fraudulent transfer claims in the adversary proceeding captioned as EPIC Companies Midwest 2023, LLC, and EOLA Capital, LLC, Plaintiffs, v. Sheyenne 32 North, LLC, Sheyenne 32 South, LLC, and Sheyenne 32 South Residential, LLC, Defendants, Adv. Proc. No. 25-07007 (Bankr. N.D.). This adversary proceeding will be set on for a jury trial in the U.S. District Court for the District of North Dakota. On March 16, 2026, this adversary proceeding came before the Court on the Plaintiffs' motion for summary judgment as to fraudulent transfer claims. The EPIC Companies are affiliated entities that engaged in real estate development throughout North Dakota. On July 8, 2024, several of the EPIC Companies filed petitions under Chapter 11. Those cases were jointly administered and substantively consolidated, and the Debtors' Amended Chapter 11 Plan of Liquidation was confirmed on August 6, 2025. This is one of the many adversary proceedings arising out of the EPIC Companies' business transactions. Plaintiffs EPIC Companies Midwest 2023, LLC ("EPIC") and EOLA Capital, LLC ("EOLA") are two of the EPIC Companies that are debtors in the Chapter 11 cases. The EPIC Companies also formed separate entities -- so-called "project companies" -- for each property or parcel of land being developed. Defendants Sheyenne 32 North, LLC ("North"), Sheyenne 32 South, LLC ("South"), and Sheyenne 32 South Residential, LLC ("Residential") are three of those project companies; each owns property or land in West Fargo. In this case, the Defendants allegedly received (and failed to repay) loans from the Plaintiffs. EPIC made loans to all three Defendants; EOLA made a loan to Residential. During the first months of this adversary proceeding, there was a dispute over jury trial rights and the validity of the related promissory notes, which contained a jury trial waiver. However, the parties ultimately stipulated to dismissal of the contract claims under the notes. The parties also stipulated that this matter shall be set on for a jury trial. In this summary judgment motion, the Plaintiffs now seek summary judgment on Counts XVII–XXVIII of the Complaint. In Counts XVII, XX, XXIII, and XXVI, the Plaintiffs seek to avoid and recover constructively fraudulent transfers under 11 U.S.C. Secs. 548(a)(1)(B) and 550(a). In Counts XVIII, XIX, XXI, XXII, XXIV, XV, XXVII and XXVIII, the Plaintiffs seek to avoid and recover constructively fraudulent transfers under the North Dakota Uniform Voidable Transactions Act pursuant to 11 U.S.C. Secs. 544(b) and 550(a). Based largely on financial analysis conducted by Patrick Finn (the Plaintiffs' Chief Restructuring Officer and Liquidating Trustee), the Plaintiffs argue there is no genuine factual dispute that the Plaintiffs transferred funds to the Defendants and received less than reasonably equivalent value for the transferred funds. The Plaintiffs further argue there is no genuine factual dispute that: (1) the Plaintiffs had or were left with unreasonably small assets at the time of the transfers; (2) the Plaintiffs were unable to pay their debts due to the transfers; or (3) the Plaintiffs were or became insolvent at the time of the transfers. Therefore, the Plaintiffs argue they are entitled to judgment as a matter of law. The Defendants argue that: (1) the stipulation dismissing the contract claims required this adversary proceeding to be set on for a jury trial; (2) the Court's scheduling order required this adversary proceeding to be trial-ready by December 2025; and (3) this motion is untimely under Federal Rule of Civil Procedure 56. Therefore, the Defendants argue the Court should not consider the motion's merits. Alternatively, the Defendants argue that there are several fact issues and defenses that preclude summary judgment. The Defendants argue that: (1) the nature of the relevant transfers is unclear; (2) the Plaintiffs have not established a lack of reasonably equivalent value for each transfer; (3) the Plaintiffs did not establish the size of their assets at the time of each transfer; (4) the Plaintiffs did not establish that debts went unpaid as a result of the transfers; and (5) the Plaintiffs' insolvency analysis was logically flawed, not specific to the dates of the transfers, relies solely on Finn's reports, and is contradicted by other documents that Finn prepared and signed. The Defendants also assert various affirmative defenses. Therefore, the Defendants argue summary judgment is inappropriate. Both the North Dakota statute and Section 548 exclude fraudulently transferred assets when assessing insolvency. Similar to the Section 548 claims, the Plaintiffs argue Finn's analysis establishes insolvency, inadequate capital, and an inability to pay debts as they became due under the North Dakota statute. As the moving party, the Plaintiffs bear the burden of proof and -- with respect to the Plaintiffs' insolvency -- rely entirely on Finn's analysis to carry that burden. The Court concludes because the Plaintiffs cannot carry their burden of proof without Finn's analysis, these are genuine issues of material fact for a jury to resolve. South and Residential's President, Adam Fischer, states that the EPIC companies exercised exclusive control over the Defendants' operations and finances. Fischer states that the EPIC companies made various payments or transfers of the Defendants' funds for purposes unrelated to the Defendants' operations. This suggests at least one of the Defendants may have been mere conduits and, thus, not transferees under Section 550(a). Drawing all reasonable inferences in favor of the Defendants, a reasonable jury could conclude that they never did more than possess these funds for several days before "directing them on to a further transferee" for purposes unrelated to the Defendants' business. A jury, and not the Court, should make that determination. The Court finds the Plaintiffs' summary judgment motion is procedurally improper and, therefore, denied. Even if the Court reaches the merits, genuine issues of material fact preclude summary judgment. A copy of the Court's Order dated June 3, 2026, is available at http://urlcurt.com/u?l=9xSdwkfrom PacerMonitor.com. About EPIC Companies Midwest EPIC Companies Midwest, LLC is a real estate investing and development firm in Minot, N.D. EPIC and its affiliates filed voluntary Chapter 11 petitions (Bankr. D.N.D. Lead Case No. 24-30281) on July 8, 2024. Patrick Finn, chief restructuring officer, signed the petitions. At the time of the filing, EPIC reported $10 million to $50 million in both assets and liabilities. Judge Shon Hastings oversees the cases. Steven Kinsella, Esq., at Fredrikson & Byron, PA represents the Debtors as legal counsel. The U.S. Trustee for Region 12 appointed an official committee to represent unsecured creditors in the Debtors' Chapter 11 cases. The committee is represented by the law firm of Stinson, LLP. FAMILY SOLUTIONS: To Sell Baton Rouge Property to Kumar LLC ----------------------------------------------------------- George F. Sanderson III, Chapter 11 Trustee of Family Solutions of Ohio Inc., seeks approval from the U.S. Bankruptcy Court for the Eastern District of North Carolina, Raleigh Division, to sell Property, free and clear of liens, claims, interests, and encumbrances. The property to be sold is all the bankruptcy estate's rights, title, and interest in the real property located at 2798 O’Neal Lane, Building D, located in the City of Baton Rouge, Parish of East Baton Rouge, State of Louisiana and generally described at Lot D, O'Neal Square OfficePark, T-7- S, R-1-E, Section 39, East Baton Rouge, Baton Rouge, Louisiana as acquired by Seller through Act of Cash Sale Recorded in the East Baton Rouge Clerk of Courts Records at Orig: 413 Bndl: 13205 from Bar-on Living Trust (Real Property). The Debtor employs Beau Box Commercial Real Estate, LLC as broker for the real property. The Broker has negotiated a private sale of the real property to Kumar LLC for $525,000. Kumar has indicated that it has the ability to close on the sale of the Real Property within 90 days of Court approval of the sale. There are no financing contingencies in the Kumar Sale Agreement. All Liens and Interests, if any, shall attach to the proceeds of sale. The Trustee is informed and believes that the Real Property is over encumbered by the valid liens of First Horizon Bank and, as such, the sale of the Real Property is subject to surcharge for the reasonable, necessary costs and expenses of preserving, or disposing of, the Real Property. First Horizon Bank agreed to the terms of the Broker's listing agreement submitted in conjunction with the application to employ Broker. The Trustee anticipates that outstanding property taxes, including pro-rated property taxes owed for the current tax year, as well as other reasonable and customary closing costs owed by Seller, will be paid at closing. The Purchase Price being offered to the Trustee constitutes the highest and best offer the Trustee has or expects to receive and constitutes a purchase in good faith for fair value. The prompt sale of the Real Property free and clear of all Liens and Interests of the estate is necessary for the Trustee to fully liquidate the Debtor's assets, which is contemplated by the confirmed Plan. About Family Solutions of Ohio Family Solutions of Ohio, Inc. in Wake Forest, NC, filed its voluntary petition for Chapter 11 protection (Bankr. E.D.N.C. Case No. 24-03043) on Sept. 5, 2024, listing as much as $1 million to $10 million in both assets and liabilities. John Hopkins, Jr., vice president, signed the petition. Judge Pamela W. McAfee oversees the case. Hendren, Redwine & Malone, PLLC serves as the Debtor's counsel. George Sanderson III was appointed as trustee appointed in this Chapter 11 case. The trustee tapped The Sanderson Law Firm, PLLC and Hendren, Redwine & Malone, PLLC as bankruptcy counsel and Calfee, Halter & Griswold LLP as special purpose counsel. FITNESS 101: Seeks Chapter 11 Bankruptcy in Washington ------------------------------------------------------ On June 3, 2026, Fitness 101 Team Puyallup L.L.C. filed for Chapter 7 protection in the U.S. Bankruptcy Court for the Western District of Washington. According to court filings, the Debtor reports between $1 million and $10 million in debt owed to approximately 1 to 49 creditors. A meeting of creditors under Section 341(a) to be held on June 30, 2026 at 12:30 PM via 341 Zoom Krattli: Meeting ID 670 584 9768, Passcode 3356389145, Phone 1-253-532-5377. About Fitness 101 Team Puyallup L.L.C. Fitness 101 Team Puyallup L.L.C. operates in the fitness and wellness industry, providing gym-related services, training programs, and health-focused facilities. Fitness 101 Team Puyallup L.L.C. sought relief under Chapter 7 of the U.S. Bankruptcy Code (Bankr. Case No. 26-41641) on June 3, 2026. In its petition, the Debtor reported estimated assets between $0 and $100,000 and estimated liabilities between $1 million and $10 million. Honorable Bankruptcy Judge Mary Jo Heston handles the case. The Debtor is represented by John A. Sterbick, Esq. of Sterbick & Associates P.S. FOUNDATION WERKS: Income & Ongoing Operations to Fund Plan ---------------------------------------------------------- Foundation Werks, LLC filed with the U.S. Bankruptcy Court for the Eastern District of Texas a First Amended Subchapter V Plan dated May 29, 2026. The Debtor is a foreign limited liability company operating in Texas that is engaged in specialized concrete industrial services and project execution. The Debtor was founded by husband and wife, Seneca McField and Taylor McField, with a vision to deliver high quality industrial solutions across diverse projects. The primary event triggering the bankruptcy filing was a significant project that substantially exceeded its anticipated timeline. The project depended upon large piece of specialized equipment that was not delivered timely. Instead of receiving the equipment within a few weeks, the equipment took 10 months to be delivered and then did not work properly. The delay on the machinery caused the Debtor to lose a large job and resulted in additional unanticipated labor, equipment, and overhead costs, creating severe cash flow constraints. Compounding these operational difficulties, one of the Debtor's principal managers, Taylor McField, experienced serious health issues during this period. These health challenges limited her ability to actively manage day-to-day operations and pursue new business opportunities, further exacerbating financial instability. As a result of these combined circumstances, project overruns, increased costs, and leadership health setbacks, the Debtor faced mounting obligations, including secured and unsecured debts, tax liabilities, and contractual commitments. Despite efforts to restructure and negotiate with creditors, the financial strain proved insurmountable, leading to the decision to seek relief under Chapter 11 of the Bankruptcy Code. All Allowed Claims will be paid through distributions funded by the Debtor's ongoing business operations and projected disposable income over the term of the Plan. Administrative, Professional, Priority Tax Claims, and certain Secured Claims will receive priority treatment. Following confirmation of the Plan, Seneca McField and Taylor McField will continue in the management and operations of the Debtor. Class 7 consists of General Unsecured Claims. Each holder of an Allowed General Unsecured Claim, to the extent Allowed, shall receive a pro-rata share of distributions funded by the Debtor's ongoing business operations, in accordance with the provisions of Article VIII of the Plan. Debtor estimates this Class to be $253,343.74. This Class is impaired. Class 8 Convenience Unsecured Claims of $1,500 or less. Each holder of an Allowed Convenience Class Claim shall receive a one-time cash payment equal to 100% of its allowed claim, payable after all secured claims, allowed administrative expense claims, and priority claims have been paid in full or otherwise satisfied pursuant to the Plan. The Debtor estimates this Class to be $3,503.20. This Class is impaired. This Plan will be funded with Estate Assets, including the Debtor’s cash on hand, proceeds from ongoing business operations, and any recoveries from Causes of Action. A full-text copy of the First Amended Plan dated May 29, 2026 is available at https://urlcurt.com/u?l=IsgrhN from PacerMonitor.com at no charge. Counsel to the Debtor: Frances A. Smith, Esq. Honest Kapic, Esq. OFFIT KURMAN, P.A. 700 North Pearl Street, Suite 1610 Dallas, TX 75201 Telephone: (214) 377-7879 Facsimile: (214) 377-9409 Email: frances.smith@offitkurman.com Email: honest.kapic@offitkurman.com About Foundation Werks LLC Foundation Werks, LLC, is a foreign limited liability company operating in Texas that is engaged in specialized concrete industrial services and project execution. The Debtor filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. E.D. Tex. Case No. 25-43573) on November 25, 2025, with $100,001 to $500,000 in assets and liabilities. The Debtor tapped Frances A. Smith, Esq., at Offit Kurman, PA as counsel and Tonya Tompkins, CPA, at T. Tompkins CPA, LLC as accountant. FREEDOM FOREVER: Gets Final OK to Use Cash Collateral ----------------------------------------------------- Freedom Forever, LLC received final approval from the U.S. Bankruptcy Court for the District of Delaware to use the cash collateral of its secured creditors to fund operations. Under the final order, the Debtor is authorized to use the cash collateral of SolarEdge Technologies, Inc. and Tesla, Inc. to pay the expenses set forth in its budget. The Debtor needs access to cash collateral to continue operations as its large U.S. residential solar installation business depends on completing projects to generate revenue. Without it, operations would cease, undermining reorganization efforts and reducing collateral value and creditor recoveries. As of the petition date, the Debtor had about $155 million in pre-bankruptcy debt, including roughly $105 million owed to SolarEdge (secured by a first-priority lien on most assets); $23 million to Tesla (secured by liens on inventory and receivables); and additional amounts to EnFin Corp. and other creditors, all closely tied to its ability to complete solar installation projects. To protect their interests, SolarEdge and Tesla will receive replacement liens on pre-petition collateral and post-petition assets, with the same extent and priority as before the Chapter 11 filing. These replacement liens do not apply to Chapter 5 claims and causes of action and are subject to the fee carveout. As additional protection, SolarEdge will receive superpriority administrative expense claims senior to other administrative expense claims but junior to the carveout. Both creditors have the right to request additional or alternative forms of protection. The Debtor's right to use cash collateral terminates upon appointment of a Chapter 11 trustee or examiner or upon conversion of the Debtor's bankruptcy case to one under Chapter 7. The order is available at https://shorturl.at/LE99T from PacerMonitor.com. A copy of the Debtor's budget is available at https://shorturl.at/tzwio from PacerMonitor.com. SolarEdge, as first-lien lender, is represented by: Stuart M. Brown, Esq. Roxanne M. Eastes, Esq. DLA Piper LLP (US) 1201 North Market Street, Suite 1200 Wilmington, DE 19801 Telephone: (302) 468-5700 Facsimile: (302) 394-2341 stuart.brown@us.dlapiper.com roxanne.eastes@us.dlapiper.com -- and -- C. Kevin Kobbe, Esq. DLA Piper LLP (US) 650 South Exeter Street, Suite 1100 Baltimore, MD 21202 Telephone: (410) 580-4189 Facsimile: (410) 580-3189 kevin.kobbe@us.dlapiper.com Tesla, as junior lienholder, is represented by: Jody C. Barillare, Esq. Morgan, Lewis & Bockius, LLP 1201 N. Market Street, Suite 2201 Wilmington, DE 19801 Telephone: (302) 574-3000 Facsimile: (302) 574-3001 jody.barillare@morganlewis.com -- and -- Stephan E. Hornung, Esq. Morgan, Lewis & Bockius LLP 101 Park Avenue New York, NY 10178 Telephone: (212) 309-6000 Facsimile: (212) 309-6001 stephan.hornung@morganlewis.com -- and -- Melissa Y. Boey, Esq. Morgan, Lewis & Bockius LLP 1400 Page Mill Road Palo Alto, CA 94304 Telephone: (650) 843-4000 Facsimile: (650) 843-4001 melissa.boey@morganlewis.com About Freedom Forever LLC Freedom Forever, LLC is a Temecula, California-based residential solar installation company that serves homeowners in more than 30 states. It operates as an engineering, procurement and construction platform, providing solar panel installation, energy storage and financing services through employees and independent authorized dealers. It also offers proprietary software that supports project visibility, permitting and customer transparency. Freedom Forever sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 26-10522) on April 15, 2026. In the petition signed by Brett Bouchy, manager, the Debtor disclosed assets of between $100 million and $500 million and liabilities of between $500 million and $1 billion. Judge Brendan Linehan Shannon oversees the case. Curtis S. Miller, Esq., at Morris, Nichols, Arsht & Tunnell, LLP, represents the Debtor as legal counsel. Kroll Restructuring Administration, LLC is the Debtor's claims and noticing agent. GABBY INVESTMENT: Voluntary Chapter 11 Case Summary --------------------------------------------------- Debtor: Gabby Investment LLC 1 Myona St Methuen, MA 01844 Business Description: Gabby Investment LLC is a single-asset real estate entity (as defined in 11 U.S.C. Section 101(51B)). Chapter 11 Petition Date: June 5, 2026 Court: United States Bankruptcy Court District of Massachusetts Case No.: 26-40673 Judge: Hon. Elizabeth D. Katz Debtor's Counsel: Marcus Scott, Esq. SCOTT LAW GROUP 200 Sutton Street #224 North Andover MA 01845 Tel: 603-233-7640 E-mail: marcus@scottlawgrp.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $500,000 to $1 million The petition was signed by Lili Bijjani as authorized representative of the Debtor. The Debtor failed to provide a list of its 20 largest unsecured creditors in the petition. A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/PRVCZDI/Gabby_Investment_LLC__mabke-26-40673__0001.0.pdf?mcid=tGE4TAMA GOHEALTH INC: Akin Gump, Young Conaway Advise Term Lenders Group ---------------------------------------------------------------- In the Chapter 11 bankruptcy cases of GoHealth, Inc. and its debtor-affiliates, Akin Gump Strauss Hauer & Feld LLP and Young Conaway Stargatt & Taylor, LLP filed with the United States Bankruptcy Court for the District of Delaware a Verified Statement pursuant to Bankruptcy Rule 2019 to inform the Court that both firms represent an ad hoc group of term loan holders or investment advisors, sub-advisors, or managers of discretionary accounts that hold: A. Initial Term Loans and DDTL Term Loans (each as defined in the Super-Priority Credit Agreement and, together, the Super-Priority Term Loans) outstanding under a Superpriority Senior Secured Credit Agreement, dated as of August 6, 2025 (as amended, amended and restated, supplemented or otherwise modified from time to time), among Blizzard Midco, LLC, as holdings, Norvax, LLC, as borrower, the lenders party thereto, and Blue Torch Finance, LLC, as administrative agent and collateral agent (the Super-Priority Credit Agreement); B. Term Loans (as defined in the First Lien Credit Agreement, the First Lien Term Loans) outstanding under a Credit Agreement, dated as of September 13, 2019, amended several times, including most recently by Amendment No. 14 to the Credit Agreement, dated as of August 6, 2025), among Blizzard Midco, LLC, as holdings, Norvax, LLC, as borrower, the lenders party thereto, and Blue Torch Finance, LLC, asadministrative agent and collateral agent (the First Lien Credit Agreement); and C. Interests in GoHealth, Inc. that constitute Class A Common Stock (as defined in a stockholders agreement, dated July 15, 2020, by and among GoHealth, Inc. and the shareholders party thereto, GoHealth, Inc. Class A Common Stock). As certified to Counsel by the Ad Hoc Group of Term Lenders, each member holds, or the investment advisors, sub-advisors, or managers for discretionary accounts that hold a certain amount of one or more of the aforementioned Loans (the Holdings). According to the Ad Hoc Group's Verified Statement: 1. Counsel represents only the members of the Ad Hoc Group of Term Lenders and does not represent or purport to represent any persons or entities other than the Ad Hoc Group of Term Lenders in connection with the Chapter 11 Cases. In addition, as of the date of this Verified Statement, the Ad Hoc Group of Term Lenders, both collectively and through its individual members, does not represent or purport to represent any other persons or entities in connection with the Chapter 11 Cases. 2. Each member of the Ad Hoc Group of Term Lenders has consented to Counsel's representation. 3. The information contained in this Verified Statement is intended only to comply with Bankruptcy Rule 2019 and is not intended for any other purpose. Nothing contained herein should be construed as a limitation or waiver of any rights of any member of the Ad Hoc Group of Term Lenders, including, without limitation, the right to assert, file, and/or amend its claims in accordance with any applicable orders entered in these Chapter 11 Cases. 4. The information contained is based upon information provided by the applicable members of the Ad Hoc Group of Term Lenders. Counsel does not make any representation regarding the validity, amount, allowance, or priority of such claims, and reserves all rights with respect thereto. Counsel does not own, nor have they ever owned, any claims against or interests in the Debtors, except for claims for services rendered to the Ad Hoc Group of Term Lenders. The Ad Hoc Group of Term Lenders, through Counsel, reserves the right to amend and/or supplement this Verified Statement in accordance with the requirements outlined in Bankruptcy Rule 2019 at any time in the future. 5. The information outlined is based upon information provided by the members of the Ad Hoc Group of Term Lenders to Counsel and is subject to change. The names and addresses for each member of the Ad Hoc Group of Term Lenders and the amount of the Holdings as of June 8, 2026, are: 1. Blue Torch Capital, on behalf of certain entities, funds, and/or accounts managed, advised or controlled by it 599 Lexington Avenue, 27th Floor New York, NY 10022 Nature and Principal Amount of Holdings $26,720,728.84 of Super-Priority Term Loans $174,580,400.16 of First Lien Term Loans 1,445,181 shares of GoHealth, Inc. Class A Common Stock 2. Redwood Capital Management, LLC, on behalf of certain entities, funds and/or accounts managed, advised or controlled by it 250 West 55th Street, 26th Floor New York, NY 10019 Nature and Principal Amount of Holdings $17,088,838.18 of Super-Priority Term Loans $111,650,255.91 of First Lien Term Loans 924,244 shares of GoHealth, Inc. Class A Common Stock 3. PSP Investments Credit USA LLC 450 Lexington Avenue, Suite 3750 New York, NY 10017 Nature and Principal Amount of Holdings $31,070,614.89 of Super-Priority Term Loans $203,000,465.49 of First Lien Term Loans 1,680,444 shares of GoHealth, Inc. Class A Common Stock 4. Calamos Aksia Alternative Credit and Income Fund 2020 Calamos Court Naperville, IL 60563 Nature and Principal Amount of Holdings $1,242,824.60 of Super-Priority Term Loans $8,120,018.61 of First Lien Term Loans 67,218 shares of GoHealth, Inc. Class A Common Stock 5. CITCO Bank Canada Ref Prospector Opportunities Fund LP 20 Toronto Street, 10th Floor Toronto, ON, M5C 2B8 Canada Nature and Principal Amount of Holdings $776,765.38 of Super-Priority Term Loans $5,075,011.63 of First Lien Term Loans 42,011 shares of GoHealth, Inc. Class A Common Stock 6. CITCO Bank Canada Ref Frontier Tiger Fund Series 1 L.P. 20 Toronto Street, 10th Floor Toronto, ON, M5C 2B8 Canada Nature and Principal Amount of Holdings $1,553,530.74 of Super-Priority Term Loans $10,150,023.26 of First Lien Term Loans 84,022 shares of GoHealth, Inc. Class A Common Stock 7. CITCO Bank Canada Ref Empire Credit Co-Investment Fund LLC 20 Toronto Street, 10th Floor Toronto, ON, M5C 2B8 Canada Nature and Principal Amount of Holdings $776,765.38 of Super-Priority Term Loans $5,075,011.63 of First Lien Term Loans 42,011 shares of GoHealth, Inc. Class A Common Stock Counsel to the Ad Hoc Group of Term Lenders: Michael R. Nestor, Esq. Robert F. Poppiti, Jr., Esq. YOUNG CONAWAY STARGATT & TAYLOR, LLP 1000 North King Street Wilmington, DE 19801 Tel: (302) 571-6600 Fax: (302) 576-3312 Email: mnestor@ycst.com rpoppiti@ycst.com - and - Scott Alberino, Esq. Benjamin Taylor, Esq. Robert S. Strauss Tower, Esq. AKIN GUMP STRAUSS HAUER & FELD LLP 2001 K Street, N.W. Washington, D.C. 20006 Tel: (202) 887-4000 Fax: (202) 887-4288 Email: salberino@akingump.com taylorb@akingump.com About GoHealth, Inc. GoHealth, Inc. is an American health insurance company. GoHealth, Inc. and several affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Lead Case No. 26-10914) on June 7, 2026. In their petitions, the Debtors reported $500 million to $1 billion in estimated assets and $1 billion to $10 billion in estimated liabilities. The Hon. Bankruptcy Judge Thomas M. Horan handles the jointly administered cases. The Debtors hired Kirkland & Ellis LLP and Kirkland & Ellis International LLP as restructuring counsel; Pachulski Stang Ziehl & Jones LLP as Delaware bankruptcy counsel; Alvarez & Marsal North America, LLC as restructuring advisor; and Donlin, Recano & Company, Inc., as claims and noticing agent. The ad hoc group of term loan holders is represented by Akin Gump Strauss Hauer & Feld LLP and Young Conaway Stargatt & Taylor, LLP. The Debtors filed a Joint Prepackaged Chapter 11 Plan and Disclosure Statement together with their bankruptcy petitions. The hearing to consider confirmation of the Plan and approval of the adequacy of the Disclosure Statement is set for July 16, 2026, at 1:00 p.m., prevailing Eastern Time. GOHEALTH INC: Insurance Brokerage Seeks Ch. 11 with Prepacked Plan ------------------------------------------------------------------ Rick Archer of Law360 Bankruptcy Authority reports that GoHealth Inc. commenced Chapter 11 proceedings in Delaware with roughly $772 million in debt and a lender-backed restructuring plan centered on an equity swap. The health insurance broker said the prepackaged filing is designed to streamline the reorganization process and position the company for future growth while continuing to serve customers and insurance carrier partners. The company attributed its financial challenges in part to escalating medical costs that have exceeded the pace of government reimbursement increases. GoHealth also pointed to industry headwinds, reimbursement pressures, and changing healthcare market dynamics that have affected operating performance and strained liquidity, the report relays. Under the proposed restructuring, a substantial portion of the company's debt would be exchanged for ownership interests, reducing leverage and improving financial flexibility. GoHealth believes the transaction will provide a sustainable capital structure and support its continued role in the Medicare insurance marketplace, according to Law360. About GoHealth Inc. GoHealth Inc. is a health insurance brokerage company. GoHealth Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 26-10914) on June 7, 2026. In its petition, the Debtor reports estimated assets between $500 million and $1 billion and estimated liabilities between $1 billion and $10 billion. Honorable Bankruptcy Judge Thomas M. Horan handles the case. The Debtor is represented by Laura Davis Jones, Esq. and Edward A. Corma, Esq. of Pachulski, Stang, Ziehl & Jones LLP. GOLD MOUNTAIN: Voluntary Chapter 11 Case Summary ------------------------------------------------ Debtor: Gold Mountain Simons Way LP 541 Miller Ave Mill Valley, CA 94941 Business Description: Gold Mountain Simons Way is a single-asset real estate company whose principal asset is a property located at 541 Miller Ave. in Mill Valley, California. Chapter 11 Petition Date: June 3, 2026 Court: United States Bankruptcy Court Northern District of California Case No.: 26-30487 Debtor's Counsel: Michael Jay Berger, Esq. LAW OFFICES OF MICHAEL JAY BERGER 9454 Wilshire Boulevard, 6th Floor Beverly Hills, CA 90212 Tel: (310) 271-6223 Fax: (310) 271-9805 E-mail: michael.berger@bankruptcypower.com Estimated Assets: $10 million to $50 million Estimated Liabilities: $10 million to $50 million The petition was signed by Jintao Shao as managing member. The Debtor has declared in the petition that it has no unsecured creditors. A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/5LQEAZI/Gold_Mountain_Simons_Way_LP__canbke-26-30487__0001.0.pdf?mcid=tGE4TAMA GRABOYES LLC: Seeks Chapter 11 Bankruptcy with Over $10MM Debt -------------------------------------------------------------- Matthew Santoni of Law360 Bankruptcy Authority reports that Pennsylvania-based window manufacturer Graboyes LLC has sought Chapter 11 protection, listing liabilities of more than $10 million in its bankruptcy schedules. The filing identifies approximately $2.1 million in disputed loan obligations and an $876,000 note payable to a union-affiliated party among the company's significant debts. The debtor is using Chapter 11 to reorganize its financial affairs while remaining operational. Company representatives indicated that restructuring under court supervision will allow Graboyes to address creditor claims, resolve disputes surrounding certain loans, and maintain ongoing business activities, the report relays. As a supplier of windows and related building products, Graboyes has been affected by financial challenges facing portions of the construction and manufacturing sectors. The company hopes that a successful reorganization will reduce its debt burden and create a foundation for future stability and growth, Law360 reports. About Graboyes LLC Graboyes LLC is a Pennsylvania-based manufacturer and supplier of custom windows and related building products serving the residential and commercial construction markets. The company has built its business around producing energy-efficient window systems and providing installation and support services to contractors, developers, and property owners throughout the region. Graboyes LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Pa. Case No. 26-12458) on June 5, 2026. In its petition, the Debtor reports estimated assets between $1 million and $10 million and estimated liabilities between $10 million and $50 million. Honorable Bankruptcy Judge Patricia M. Mayer handles the case. The Debtor is represented by Jeffrey Charles Hampton, I, Esq. of Saul Ewing LLP. GULF SOUTH: Greta Brouphy Named Subchapter V Trustee ---------------------------------------------------- The Acting U.S. Trustee for Region 5 appointed Greta Brouphy, Esq., at Heller Draper & Horn, LLC as Subchapter V trustee for Gulf South Hospice of New Orleans, LTD. Ms. Brouphy will be paid an hourly fee of $425 for her services as Subchapter V trustee and an hourly fee of $125 for paralegal services. In addition, the Subchapter V trustee will receive reimbursement for work-related expenses incurred. Ms. Brouphy declared that she is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Greta M. Brouphy Heller Draper & Horn, LLC 650 Poydras St., Ste. 2500 New Orleans, LA 70130-6175 Telephone: 504-299-3300-; Fax 504-299-33 Email: gbrouphy@hellerdraper.com About Gulf South Hospice of New Orleans Gulf South Hospice of New Orleans, LTD provides hospice care in Metairie, Louisiana. The company offers services including medical supplies and equipment, pain control and symptom management, social worker visits, and spiritual support for patients and families. Its care may be provided in homes, nursing facilities, assisted living facilities, and acute care hospitals. Gulf South Hospice is Medicare and Medicaid certified. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. La. Case No. 26-11284) on May 27, 2026, with $0 to $50,000 in assets and $1,000,001 to $10 million in liabilities. Judge Meredith S Grabill presides over the case. Patrick S. Garrity, Esq., at Derbes Law Firm, LLC represents the Debtor as bankruptcy counsel. GULF STATES: To Sell Intangible Assets to Mark Jones for $5K ------------------------------------------------------------ Gulf States Performance LLC, d/b/a Floyd's Performance, seeks approval from the U.S. Bankruptcy Court for the Southern District of Alabama, to sell remaining intangible assets, free and clear of liens, claims, interests, and encumbrances. The Debtor has determined that it is in the best interests of the estate to sell any remaining intangible assets, including potential claims and causes of action, whether currently known or unknown, and commercial tort claims, which belong to the estate and include claims or causes of action created pursuant to title 11 of the United States Code. First Bank of Central Ohio is the Debtor’s senior secured lender and asserts a lien against substantially all of the assets of the Debtor, including the Remaining Assets. The Debtor's principal, Mark Jones, has offered to purchase the Remaining Assets for the aggregate sum of $5,000.00, subject to higher and better offers. Due to the intangible nature of the assets and the uncertainty of litigation, valuation of the Remaining Assets on an open market is difficult. Further, because evaluation and pursuit of the claims underlying the Remaining Assets requires personal knowledge of the Debtor's interactions with third parties, the market of potential bidders for the Remaining Assets is limited. The proposed sale to Jones is the highest and best offer the Debtor has for the Assets. However, approval of the proposed sale shall be subject to any higher or better offer received prior to the hearing on this motion. About Gulf States Performance Gulf States Performance, LLC, doing business as Floyd's Performance, provides automotive repair and performance upgrade services, including custom exhaust work and fleet maintenance. The Company serves individual vehicle owners and local businesses in Baldwin County. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Ala. Case No. 25-12354) on September 2, 2025, with $100,000 to $500,000 in assets and $1 million to $10 million in liabilities. Mark Jones, president, signed the petition. Jodi Daniel Dubose, Esq., at Stichter, Riedel, Blain, & Postler P.A. represents the Debtor as legal counsel. HORSEY DENISON: Court Confirms Vallit Report as Arbitration Award ----------------------------------------------------------------- Judge Julie R. Rubin of the U.S. District Court for the District of Maryland will grant Donna Denison's petition for confirmation of arbitration award in the case captioned as DONNA DENISON, Petitioner, v. HORSEY DENISON LANDSCAPING, LLC, et al., Respondents, Case No. 1:24-cv-01484-JRR (D. Md.). On October 22, 2021, Petitioner Donna Denison and Respondent Horsey Denison Landscaping, LLC ("HDL") entered into a Stock and Membership Purchase Agreement (the "APA") pursuant to which HDL purchased the equity interests in Denison Landscaping, Inc., Denison Landscaping & Nursery, Inc., and Denison Farms, LLC (collectively, the "Companies") from Ms. Denison. On the same date, Ms. Denison and HDL executed a Note (the "Seller Note"), providing that HDL would pay Ms. Denison a principal sum of $6,000,000, together with interest subject to adjustment under the terms of the APA. Also on October 22, 2021, Ms. Denison and Respondents Robert E. Horsey and David W. Horsey executed a Guaranty Agreement under which Messrs. Horsey guaranteed HDL's payment obligations under the APA and the Seller Note. Pursuant to the APA, the Purchase Price and corresponding Seller Note were subject to adjustment based on the Companies' working capital. The APA required Ms. Denison to deliver a Closing Statement setting forth a good-faith estimate of the Companies' Net Working Capital as of the Closing Date. The agreement further provided that, during a 12-month "Collection Expiration Period," HDL would attempt to collect specified accounts receivable and pay specified accounts payable, and the Purchase Price would be reduced if certain accounts payable exceeded the sum of the cash on hand and collected closing date accounts receivables, known as the "Working Capital Adjustment Amount." During the Collection Expiration Period, Secs. 2.06(b)(v)-(vii) of the APA also required HDL to provide "Post-Closing Statements" as to the status of collections related to accounts receivable and payments of accounts payable and provided guidelines for Ms. Denison to dispute the Post-Closing Statements if necessary. In the event disputes remained unresolved, the APA required the parties to submit the disputed matters to an independent Accounting Firm for resolution pursuant to the procedures set forth in Sec. 2.06 of the APA. The parties were unable to resolve their disputes concerning HDL's Post-Closing Statements and Ms. Denison's Post-Closing Statement Dispute Notices. In July 2024, the parties agreed to engage Vallit Advisors, LLC ("Vallit"), as the independent Accounting Firm to resolve the remaining Working Capital Adjustment disputes pursuant to Sec. 2.06 of the APA. On January 30, 2025, after examining the materials submitted by the parties per the engagement, Vallit issued a written report concluding that the Working Capital Adjustment including the cash shortfall was $2,398,854.13 and the $2,398,854.13 was due to the Seller, Ms. Denison. On May 21, 2024, HDL initiated the underlying action against Ms. Denison by filing a Complaint. The Complaint asserts claims for breach of contract (Count I) and declaratory judgment (Count II) against Ms. Denison for damages incurred for allegedly false representations and warranties made by Ms. Denison to induce HDL into purchasing the Companies and Ms. Denison's attempted acceleration of the Seller Note in breach of the APA and the Seller Note. On July 25, 2024, Ms. Denison filed an Answer and a Third-Party Complaint against Robert and David Horsey asserting a claim for breach of contract. On February 11, 2025, Ms. Denison filed the instant Petition against Respondents as a separate action, seeking confirmation of the Vallit report as a final and binding arbitration award. In their opposition, Messrs. Horsey first argue the Petition should be denied because no arbitration, as that term is understood in the Maryland Uniform Arbitration Act, has been conducted and thus the Report is not an award confirmable as a judgment. Messrs. Horseys assert that, pursuant to the MUAA, an arbitration requires an evidentiary hearing. HDL similarly argues that in submitting the Working Capital Adjustment disputes to Vallit, the parties did not agree to arbitration within the scope of the MUAA. In particular, HDL contends the dispute resolution process contemplated by Sec. 2.06 of the APA is more appropriately referred to as an "expert determination" or "accountant true-up" than an arbitration. Ms. Denison argues that an agreement need not contain the words "arbitrate" or "arbitration" to create an arbitration agreement and numerous courts have ruled that dispute resolution provisions substantially similar to Section 2.06 of the APA at issue are essentially arbitration clauses and should be treated as such. Having previously asserted that all disputes concerning Working Capital Adjustments should be resolved through a binding process without judicial intervention in the interest of judicial economy, Respondents may not escape that resolution by claiming judicial intervention is now essential because their chosen expert resolved the dispute contrary to their interests. Accordingly, and mindful of the federal policy favoring arbitration, the court concludes that the parties formed an agreement to arbitrate and subsequently engaged in arbitration when they submitted their disputes concerning the Working Capital Adjustments for binding resolution to Vallit in accordance with Secs. 2.06(b)(vii)-(ix) of the APA. Thus, the award issued by Vallit is properly classified as an arbitration award. A copy of the Court's Memorandum Opinion dated June 4, 2026, is available at http://urlcurt.com/u?l=5Nuishfrom PacerMonitor.com. About Horsey Denison Landscaping LLC Horsey Denison Landscaping LLC is a landscaping company based in Fort Washington, Maryland. It provides design and build services such as landscape installation, hardscaping, low-voltage lighting, and irrigation. Horsey Denison fully owns Denison Farms LLC, also formed in 2021, and Denison Landscaping Inc., a corporation established in 1990. The Company is affiliated with Horsey Denison Properties LLC, a Delaware-based entity co-owned equally by Robert E. Horsey and David W. Horsey. Horsey Denison Landscaping LLC and its affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Md. Case No.25-14103) on May 6, 2025. In its petition, Horsey Denison Landscaping reports estimated assets and liabilities between $1 million and $10 million each. Judge Lori S. Simpson oversees the case. The Debtors are represented by Paul Sweeney, Esq., at YVS Law, LLC. First National Bank, as lender, is represented by David V. Fontana, Esq., at Gebhardt & Smith LLP, in Baltimore, Maryland. HOUSE WINE: Case Summary & 20 Largest Unsecured Creditors --------------------------------------------------------- Debtor: House Wine Austin, LLC 1711 South 1st Street Austin, TX 78704 Business Description: House Wine operates a wine bar in Austin, Texas, offering wines sourced from small-production boutique wineries and vineyards that follow sustainable, natural, organic, and biodynamic practices. Founded in 2008 and located in the Bouldin Creek neighborhood, the company serves wine alongside locally sourced food options including cheese and charcuterie boards, shared plates, tapas, and Bola pizzas. House Wine also offers a Wine Geek Club for select members, featuring monthly sessions led by industry experts and guest winemakers. Chapter 11 Petition Date: June 5, 2026 Court: United States Bankruptcy Court Western District of Texas Case No.: 26-11083 Judge: Hon. Shad M Robinson Debtor's Counsel: Stephen W Sather, Esq. BARRON & NEWBURGER, P.C. 7320 N. MoPac Expressway 400 Austin, TX 78731 Tel: (512) 476-9103 x220 E-mail: ssather@bn-lawyers.com Estimated Assets: $0 to $50,000 Estimated Liabilities: $1 million to $10 million The petition was signed by Kerry White as manager. A full-text copy of the petition, which includes a list of the Debtor's 20 largest unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/W3IUO5I/House_Wine_Austin_LLC__txwbke-26-11083__0001.0.pdf?mcid=tGE4TAMA HPC MOTORSPORTS: Melissa Haselden Named Subchapter V Trustee ------------------------------------------------------------ The U.S. Trustee for Region 7 appointed Melissa Haselden, Esq., at Haselden Farrow, PLLC as Subchapter V trustee for HPC Motorsports LLC. Ms. Haselden will be paid an hourly fee of $625 for her services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Ms. Haselden declared that she is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Melissa A. Haselden, Esq. Haselden Farrow, PLLC 700 Milam, Suite 1300 Pennzoil Place Houston, TX 77002 Telephone: (832) 819-1149 Facsimile: (866) 405-6038 mhaselden@haseldenfarrow.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 sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Texas Case No. 26-33781) on May 29, 2026, with $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 represents the Debtor as bankruptcy counsel. HUDBAY MINERALS: S&P Rates US$52MM Unsecured Revenue Bonds 'BB-' ---------------------------------------------------------------- S&P Global Ratings assigned its 'BB-' issue-level rating and '3' recovery rating to Hudbay Minerals Inc.'s US$52 million senior unsecured revenue bonds due 2046 issued by the Arizona Industrial Development Authority. The '3' recovery rating indicates its expectation for meaningful (50%-70%; rounded estimate: 65% cap) recovery in the event of a default. The bonds rely on payments from Copper World LLC, an entity that owns the Copper World copper mining project in Arizona. Hudbay Minerals Inc. holds a 70% interest in Copper World LLC. S&P said, "We expect these bonds will be guaranteed on an unsecured basis by Hudbay Minerals Inc. and certain of its subsidiaries and assume they rank pari passu with its existing senior unsecured notes that carry the same rating. We believe the company will use the net proceeds from this issuance to fund its Copper World development project." HUMBLE BARON: Case Summary & 20 Largest Unsecured Creditors ----------------------------------------------------------- Debtor: Humble Baron, Inc. 4503 Barone Drive Murfreesboro, TN 37128 Business Description: Humble Baron operates a bar, restaurant, and entertainment venue in Shelbyville, Tennessee. The venue offers food and cocktail service, hosts live music, takes reservations, and provides private event hosting. Humble Baron is located at Nearest Green Distillery. Chapter 11 Petition Date: June 5, 2026 Court: United States Bankruptcy Court Eastern District of Tennessee Case No.: 26-11577 Judge: Hon. Nicholas W. Whittenburg Debtor's Counsel: W. Thomas Bible, Jr., Esq. TOM BIBLE LAW 6112 Shallowford Road Chattanooga, TN 37421 Tel: (423) 424-3116 Fax: (423) 499-6311 Email: tom@tombiblelaw.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Keith Weaver as president. A full-text copy of the petition, which includes a list of the Debtor's 20 largest unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/JZXBFFY/Humble_Baron_Inc__tnebke-26-11577__0001.0.pdf?mcid=tGE4TAMA HUTCHINSON REGIONAL: Moody's Alters Outlook on Ba2 Issuer to Neg. ----------------------------------------------------------------- Moody's Ratings has revised Hutchinson Regional Medical Center, Inc.'s (KS) (HRMC) outlook to negative from stable and affirmed the Ba2 issuer and revenue bond ratings. HRMC had $38 million of total adjusted debt at fiscal year-end 2025. The outlook revision to negative reflects continued headwinds to financial performance and the risk that recent improvement trends will stall following several years of progress toward breakeven. RATINGS RATIONALE The Ba2 issuer rating reflects HRMC's leading market position (85% share), strong liquidity, and moderate leverage. These strengths are tempered by its modest scale and weak demographics in its core service area, which constrain revenue growth, along with competitive pressure for outpatient volumes from a nearby multi-specialty physician group. Financial performance is expected to weaken in fiscal 2026, following several years of improvement toward breakeven, due to elevated physician investment costs. Liquidity remains a key credit strength, with cash-to-adjusted debt of 4-5x and days cash on hand around 200 days, providing a meaningful cushion. The Ba2 revenue bond rating reflects HRMC's long-term credit quality and the general obligation characteristics of the debt. RATING OUTLOOK The negative outlook reflects weakened financial performance and continued headwinds to achieving positive results by fiscal 2027. Liquidity is expected to remain robust, with days cash on hand providing a buffer to support ongoing performance improvement initiatives. Failure to improve financial performance could result in pressure on financial covenants, including the potential for future breaches. FACTORS THAT COULD LEAD TO AN UPGRADE OF THE RATINGS -- Significant and sustained improvement in financial performance, with operating cash flow margins returning to levels that would sustainably fund operations, debt service and capital spending FACTORS THAT COULD LEAD TO A DOWNGRADE OF THE RATINGS -- Inability to show performance improvement traction and generate positive EBIDA in fiscal 2027 -- Material decline in days cash on hand below 200 days or additional financial leverage that dilutes metrics PROFILE Hutchinson Regional Health System is a 501 (c)(3), which includes Hutchinson Regional Medical Center, Inc., a 190-licensed bed hospital located in Hutchinson, Kansas. The hospital offers an array of healthcare services, including Level 3 Trauma, cardiology services, oncology and cancer services, labor and delivery, wound care, and sleep services. METHODOLOGY The principal methodology used in these ratings was Not-for-profit Healthcare published in May 2026. INSPIRED HEALTHCARE: Plan Exclusivity Period Extended to Aug. 31 ---------------------------------------------------------------- Judge Mark X Mullin of the U.S. Bankruptcy Court for the Northern District of Texas extended Inspired Healthcare Capital Holdings, LLC and affiliates' exclusive periods to file a plan of reorganization and obtain acceptance thereof to Aug. 31 and Nov. 2, 2026, respectively. As shared by Troubled Company Reporter, the Debtors explain that the Chapter 11 Cases are sufficiently large and complex to warrant the requested extension of the Exclusive Periods. There are 161 Debtors involved in the Chapter 11 Cases, which met the requirements for and were designated as complex cases. Certain of the Debtors own 33 operating senior living facilities across the United States which are home to approximately 2,620 residents. Since the Petition Date, the Debtors and their professionals have focused much of their time, energy, and resources on administering the Chapter 11 Cases in the ordinary course of business, marketing their assets for sale, and negotiating with investors and other creditors, including the Committee and DST Investor Ad Hoc Groups. The extension of the Exclusive Periods will ensure that the Debtors have a full and fair opportunity to continue to revise, amend, and file their proposed plan and disclosure statement as necessary without the distraction, cost, and delay of a competing plan process. The Debtors assert that granting the requested extensions of the Exclusive Periods will not pressure the Debtors' creditor constituencies or grant the Debtors any unfair bargaining leverage. The Debtors have no ulterior motive in seeking an extension of the Exclusive Periods, nor are they seeking an extension of the Exclusive Periods to pressure or prejudice any of their stakeholders. Rather, the Debtors are seeking an extension merely to ensure that the Debtors can pursue the resolution of the Chapter 11 Cases following the conclusion of their sale process, including by proposing, soliciting, confirming, and consummating a proposed chapter 11 plan, free from distraction or competing plan proposals. The Debtors further assert that they have obtained Court approval of debtor-in-possession financing following a contested hearing, negotiated and obtained Court approval of bid procedures following the same hearing, continue to administer value-maximizing marketing and/or sale processes for substantially all of the Debtors' assets. Accordingly, this factor weighs in favor of granting an extension of the Exclusive Periods. Counsel for the Debtors: Marcus A. Helt, Esq. Jack G. Haake, Esq. MCDERMOTT WILL & SCHULTE LLP 2801 N. Harwood Street, Suite 2600 Dallas, Texas 75201-1574 Tel: (214) 295-8000 Fax: (972) 232-3098 Email: mhelt@mcdermottlaw.com jhaake@mcdermottlaw.com -and - Daniel M. Simon, Esq. Carmen Dingman, Esq. Landon Foody, Esq. 444 West Lake Street, Suite 4000 Chicago, Illinois 60606 Tel: (312) 372-2000 Fax: (312) 984-7700 Email: dsimon@mcdermottlaw.com cdingman@mcdermottlaw.com lfoody@mcdermottlaw.com About Inspired Healthcare Capital Inspired Healthcare Capital Holdings, LLC, owns senior living communities across the U.S. that provide independent living, assisted living, and memory care services. It operates in the senior housing and healthcare real estate sector, with day-to-day community operations managed by third-party operators under management agreements while the Company retains control over non-community business functions. Inspired Healthcare Capital Holdings sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Texas Lead Case No. 26-90004) on Feb. 2, 2026. In the petition signed by M. Benjamin Jones, chief restructuring officer, Inspired Healthcare Capital Holdings reported between $1 billion and $10 billion in both assets and liabilities. Judge Mark X Mullin oversees the cases. The Debtors tapped McDermott Will & Schulte, LLP as bankruptcy counsel; Ankura Consulting Group, LLC as financial advisor; Raymond James & Associates, Inc. as investment banker; and Epiq Corporate Restructuring, LLC as claims, noticing, and solicitation agent. INSPIREMD INC: Stockholders Approve Authorized Shares Hike to 250M ------------------------------------------------------------------ InspireMD Inc. stockholders approved an amendment increasing the company's authorized common shares to 250 million from 150 million at the company's annual meeting, according to a filing with the Securities and Exchange Commission. The company said the amendment became effective June 3 after it filed a certificate of amendment to its amended and restated certificate of incorporation with the Delaware secretary of state. InspireMD said 34,631,348 shares, or 73.85% of shares entitled to vote, were present in person or represented by proxy at the meeting. Stockholders re-elected Marvin Slosman, Raymond Cohen and Dan Dearen as Class 3 directors for three-year terms. Slosman received 25,086,284 votes for and 1,728,950 withheld, Cohen received 22,733,263 votes for and 4,081,971 withheld, and Dearen received 22,750,906 votes for and 4,064,328 withheld. Stockholders approved the authorized-share increase with 31,577,297 votes for, 3,009,107 against and 44,944 withheld. They also ratified Kesselman & Kesselman, a member of PricewaterhouseCoopers International Limited, as independent registered public accounting firm for fiscal 2026, with 34,355,150 votes for, 244,248 against and 31,950 abstentions. About InspireMD Inc. InspireMD Inc. is a medical device company developing and commercializing products for the treatment of carotid artery disease and other vascular conditions. Its portfolio includes CGuard carotid stent technology, including the CGuard Carotid Embolic Prevention System and the CGuard Prime Carotid Stent System. The company's latest annual report included auditor language stating that recurring losses from operations and cash outflows from operating activities raised substantial doubt about its ability to continue as a going concern. Kesselman & Kesselman, a member firm of PricewaterhouseCoopers International Limited, signed the report dated March 18, 2026. As of March 31, 2026, the company reported total assets of $56.47 million, total liabilities of $12.85 million and total stockholders' equity of $43.62 million. INTEGRIS EQUIPMENT: Mark Schlant Named Subchapter V Trustee ----------------------------------------------------------- The U.S. Trustee for Region 2 appointed Mark Schlant, Esq., at Zdarsky, Sawicki & Agostinelli, LLP as Subchapter V trustee for Integris Equipment, LLC. Mr. Schlant will be paid an hourly fee of $320 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Schlant 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. 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 Integris Equipment LLC Integris Equipment, LLC provides new and refurbished medical equipment, including patient monitors, anesthesia machines, AEDs/defibrillators, EKG machines, and related medical accessories. It offers medical equipment rentals for short-term and long-term use and also buys or trades used equipment. Integris Equipment operates an in-house biomed and refurbishing department and performs quality assurance checks on equipment sold. Integris Equipment filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. W.D.N.Y. Case No. 26-10689) on May 29, 2026, with between $1 million and $10 million in both assets and liabilities. Judge Carl L. Bucki presides over the case. Scott J. Bogucki, Esq., at Gleichenhaus, Marchese & Weishaar, PC represents the Debtor as legal counsel. INVATECH PHARMA: Seeks to Extend Plan Exclusivity to June 26 ------------------------------------------------------------ InvaTech Pharma Solutions, LLC asked the U.S. Bankruptcy Court for the District of New Jersey to extend its exclusivity periods to file a plan of reorganization and obtain acceptance thereof to June 26 and Aug. 25, 2026, respectively. The Debtor explains that it previously engaged Spektrum Capital Advisors, LLC to evaluate letters of intent and bids it received from multiple potential investors. The stalking horse was determined to be the winning bidder. The closing of the sale transaction is in its final stages and awaiting the resolution of one matter. Once resolved, the sale transaction will be finalized and the Debtor will be able to finalize its plan of reorganization. The Debtor claims that it has spent considerable time and effort negotiating with the prospective investors, selected a stalking horse bidder and thereafter the winning bidder, and received authorization from the Court to conclude the sale of the Debtor. Due to the length and complexity of the ongoing negotiations and discussions hitherto engaged, there will be insufficient time before the current exclusivity period expires to finalize a plan of reorganization. Therefore, additional time is necessary. The Debtor asserts that it has continued to keep an open line of communication with interested parties concerning all matters related to the case. As detailed in the Fourth Patel Certification, the Debtor has successfully conducted extensive negotiations that have informed the Debtor's decisions on an appropriate plan. At this point, all that remains is the completion of the due diligence process between the anticipated stalking horse bidder and Debtor's landlord to finalize the Debtor's plan. The Debtor further asserts that it is not seeking an extension of the exclusive period to pressure creditors to submit to any demands. The Debtor anticipates that the substantive terms around which a plan will be proposed will be reached shortly. To the best of the Debtor's knowledge there are no significant unresolved contingencies that would substantially disrupt the Debtor's ability to satisfy its obligations to file a plan within the time period provided for by the Code. InvaTech Pharma Solutions LLC is represented by: Daniel M. Stolz, Esq. Donald W. Clarke, Esq. Genova Burns LLC 110 Allen Road, Suite 304 Basking Ridge, NJ 07920 E-mail: (973) 467-2700 About InvaTech Pharma Solutions LLC InvaTech Pharma Solutions LLC, doing business as Inva Tech Pharma Solutions LLC and Inva-Tech Pharma Solutions LLC, is a specialty pharmaceutical company that develops, manufactures, and markets generic prescription products. The Company's cGMP-compliant facility supports ANDA scale manufacturing and packaging of tablets, capsules, and liquid in bottles. With a dedicated team, InvaTech is committed to meeting industry regulations, exceeding deadlines, and delivering exceptional service to its partners. InvaTech Pharma Solutions LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.N.J. Case No. 25-11482) on February 13, 2025. In its petition, the Debtor reported estimated assets between $1 billion and $10 billion and estimated liabilities between $10 million and $50 million. Judge Christine M. Gravelle oversees the case. Daniel M. Stolz, Esq., at Genova Burns, LLC is the Debtor's legal counsel. Citibank, N.A., as secured creditor, is represented by: Teresa Sadutto-Carley, Esq. Goetz Platzer LLP One Penn Plaza 31st Floor New York, NY 10119 Telephone: 212-593-3000 Facsimile: 212-593-0353 tsadutto@goetzplatzer.com Provident Bank, as secured creditor, is represented by: Angela Nascondiglio Stein, Esq. Meyner and Landis LLP One Gateway Center, Suite 2500 Newark, NJ 07102 (973) 602-3432 astein@meyner.com IROBOT CORP: Dismissal of Sec. 10(b), Sec. 20(a) Claims Reversed ---------------------------------------------------------------- In the appeal styled PREMCA EXTRA INCOME FUND LP, individually and on behalf of all others similarly situated, Plaintiff, Appellant, DYLAN DAS, Plaintiff, v. COLIN M. ANGLE; JULIE ZEILER, Defendants, Appellees, IROBOT CORPORATION, Defendant, No. 25-1192, Judges Seth R. Aframe, Julie Rikelman and Sandra L. Lynch of the U.S. Court of Appeals for the First Circuit reversed the dismissal by the U.S. District Court for the District of Massachusetts of the Sec. 10(b) and Sec. 20(a) claims in the securities fraud class action against iRobot and its executives. The district court's order is otherwise affirmed. The case is remanded for further proceedings. In August 2022, Amazon, Inc., the online retailer, and iRobot, Inc., a robotics company best known for inventing a popular robot vacuum cleaner called the Roomba, announced their intention to merge. Over the next approximately eighteen months, Amazon and iRobot sought clearance for the merger from domestic and international antitrust regulators. In January 2024, when approval from United States and European Union authorities seemed doubtful, Amazon and iRobot terminated their merger attempt. Following the abandoned merger, iRobot shareholders, led by Premca Extra Income Fund, LP ("Premca"), brought a securities fraud class action against iRobot, Colin Angle, iRobot's chief executive officer, and Julie Zeiler, iRobot's chief financial officer. Premca's amended complaint seeks recovery against all defendants under Sec. 10(b) of the Securities and Exchange Act of 1934 (the "Act"), 15 U.S.C. Sec. 78j(b), and Rule 10b-5, 17 C.F.R. Sec. 240.10b-5, which was promulgated pursuant to the Act. The amended complaint also includes a claim against the individual defendants as "controlling persons" under Sec. 20(a) of the Act. 15 U.S.C. Sec. 78t. The amended complaint essentially alleges that during the class period -- February 13, 2023, through January 29, 2024 -- the defendants made numerous misleading statements and omitted material information regarding Amazon's cooperation with regulators and the status of the regulatory approval process. After Premca filed an amended complaint, the defendants moved to dismiss it for failing to state a claim, arguing that it neither identified a statement that contained an actionable material misrepresentation or omission nor adequately alleged scienter. The district court agreed on both fronts and dismissed the complaint with prejudice. The district court granted the motion on the Sec. 10(b) claim, concluding that the amended complaint contained insufficient factual support for the fraud allegations and inadequate allegations of scienter. The court then dismissed the Sec. 20(a) claim because it was derivative of the Sec. 10(b) claim. Premca timely appealed. Following iRobot's bankruptcy, this appeal proceeds only as to the individual defendants. Premca alleges that during two senior leadership meetings -- one in May 2023, the other in August 2023 -- Glen Weinstein, iRobot's chief legal officer, had warned that Amazon was refusing to provide the European Commission with "information" about how its "search engine worked," which would help the EC determine whether Amazon was favoring its internal products to the detriment of competition. Taken together, these two pieces of information reasonably indicated the merger faced regulatory difficulty. In part motivated by concerns over Amazon's search engine, the EC was taking a rare step of initiating a Phase II investigation. And yet, reading the allegations in the light most favorable to Premca, Amazon had been refusing to provide the EC with information to address this concern for months. Viewed against that backdrop, the panel says the modified proxy statement's optimism could be found to have been materially "misleading" to investors for saying "one thing and holding back another." iRobot's rosy prediction of regulatory success, which had not appeared in any public filing since the original proxy statement in September 2022, could reasonably be understood as reassurance to investors as it came on the heels of the EC's Phase II announcement. But iRobot did not include information about Amazon's refusal to provide information on the search engine, which was critical to the EC's publicly expressed concerns. Including that information could be found to have "significantly altered the total mix of information" available to investors by undermining iRobot's message of reassurance. The panel finds the amended complaint also makes sufficient allegations to give rise to a strong inference of scienter. It paints a picture of iRobot as a declining company that was counting on the Amazon merger to improve its financial footing. By August 2023, the merger's success hinged on regulatory approval from antitrust authorities, including the EC. And at this point, the EC's concerns about Amazon's search engine were publicly known. Moreover, the amended complaint sufficiently alleges that iRobot knew about Amazon's reluctance to share information regarding its search engine with the EC. According to the Circuit Judges, "Premca has plausibly alleged a Sec. 10(b) claim and a derivative Sec. 20(a) claim based on omissions from the optimistic predictions in the modified proxy statement." The panel says iRobot had no duty to disclose any of the merger developments that the amended complaint identifies following the issuance of the modified proxy statement. Thus, none of the post-August 2023 statements identified in the amended complaint are actionable under Sec. 10(b). For these reasons, the panel holds, "We now conclude that the district court correctly dismissed the amended complaint for all statements identified by Premca except for the August 24, 2023, modified proxy statement. As we explain, the amended complaint plausibly alleges that an opinion expressed in iRobot's modified proxy statement -- namely, that the company expected regulatory approval for the merger -- is actionable because it omitted important contrary information about European approval in circumstances that adequately suggest scienter." A copy of the Court's Opinion dated June 5, 2026, is available at http://urlcurt.com/u?l=YB3n1o About iRobot Corp. iRobot Corp. is the manufacturer of Roomba robot vacuums. iRobot Corp. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 25-12197) on Dec. 14, 2025. In its petition, the Debtor reports estimated assets and liabilities between $100 million and $500 million each. The case is overseen by Honorable Judge Brendan Linehan Shannon. The Debtor is represented byPaul M. Basta, Esq. of Paul, Weiss, Rifkind, Wharton & Garrison. JAY'S PRIME: Gets Interim OK to Use Cash Collateral --------------------------------------------------- The U.S. Bankruptcy Court for the District of Maryland granted Jay's Prime Rentals, LLC interim authority to use cash collateral through July 10. Under the order, the Debtor may use cash collateral strictly in accordance with an approved budget. Funds may be used for ordinary operating expenses, including payroll, mortgage payments, utilities, insurance, and other necessary business costs. The Debtor generally may not exceed budgeted amounts, except for advertising vacant apartments and necessary maintenance expenses. Budget variances exceeding 15% of any line item require approval from the secured lender associated with the affected property. The court granted adequate protection to secured creditors Fay Servicing, BSI Financial Services, and Shellpoint Servicing through the continued payment of mortgage obligations, insurance premiums, taxes, and other operational expenses related to the properties. A final hearing on the motion is scheduled for July 8, and objections to the requested final relief must be filed by June 24. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/jmSN4 from PacerMonitor.com. About Jay's Prime Rentals LLC Jay's Prime Rentals, LLC, based in Clinton, Maryland, is a real estate holding company that owns and manages a portfolio of residential properties in Baltimore, Maryland, including assets on South Augusta Avenue, Ashburton Street, Claymont Avenue, and North Calhoun Street. The company leases these properties under master lease arrangements to a single counterparty, Premier Acquisition Services, LLC, which operates the units as multi-tenant housing and is responsible for subleasing and tenant management. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Md. Case No. 26-13186) on March 25, 2026. In the petition signed byÂ James J. Watkins, owner, the Debtor disclosed $848,036 in total assets and $1,114,554 in total liabilities. Judge Maria Ellena Chavez-Ruark oversees the case. Marc A. Ominsky, Esq., at the Law Offices of Marc A. Ominsky, LLC, represents the Debtor as bankruptcy counsel. JBI MANAGEMENT: John Whaley Named Subchapter V Trustee ------------------------------------------------------ The Acting U.S. Trustee for Region 21 appointed John Whaley of John T. Whaley, CPA, LLC as Subchapter V trustee for JBI Management LLC. Mr. Whaley will be paid an hourly fee of $440 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Whaley declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: John T. Whaley, CPA JOHN T. WHALEY, CPA, LLC P.O. Box 76362 Atlanta, GA 30358 Phone: 404-946-5272 Email: trustee@jtwcpa.net About JBI Management LLC JBI Management LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ga. Case No. 26-10893) on June 1, 2026, with $1 million to $10 million in assets and liabilities. JEFFREY SIMPSON: Can't Remove Chassen, et al. Case to Federal Court ------------------------------------------------------------------- Judge Jeannette A. Vargas of the U.S. District Court for the Southern District of New York denied Jeffrey Simpson's motion to construe the order enjoining him from future removal of the case captioned as JEFFREY SIMPSON, Plaintiff, -v- JARED CHASSEN, et al., Defendants, Case No. 25-cv-04004-JAV (S.D.N.Y.) to federal court as not applicable to him in his capacity as debtor in possession or to vacate the order such that he may remove his state action pursuant to 28 U.S.C. Sec. 1452(a). This matter has been closed since July 30, 2025, after Judge Jesse Furman remanded it to state court and granted attorneys' fees against Simpson for frivolously attempting to remove and delay his case on multiple occasions. On February 24, 2026, Simpson notified the District Court that he had filed for personal bankruptcy. Now before the District Court is Simpson's contested motion. The District Court denied the motion as mandatory abstention would render a carveout from the Anti-Removal Order futile in this context. For similar reasons, the Court finds that permissive abstention under 28 U.S.C. Sec. 1334(c)(1) and equitable remand under 28 U.S.C. Sec, 1452(b) would also be appropriate. A federal court can abstain from adjudicating a matter falling within the federal court's bankruptcy jurisdiction. Judge Vargas explains, "Nowhere in Simpson's state court complaint -- which was filed three years ago and brings claims, inter alia, for breach of contract, breach of fiduciary duty, conversion, and tortious interference -- does the word 'bankruptcy' appear. Accordingly, Simpson's action cannot 'arise under' or 'in' the Bankruptcy Code. At most, then, Simpson's bankruptcy relates to his state court action insofar as it bears on the assets at issue in his suit." A copy of the Court's Memorandum Opinion and Order dated June 3, 2026, is available at http://urlcurt.com/u?l=QCL1A0from PacerMonitor.com. Jeffrey Solomon Simpson filed for Chapter 11 bankruptcy protection (Bankr. S.D.N.Y. Case No. 26-10359) on February 19, 2026, listing under $1 million in both assets and liabilities. The Debtor is represented by Alec P. Ostrow, Esq. JJ ARCH: Court Affirms Dismissal of Bankruptcy Case --------------------------------------------------- Judge Jeannette A. Vargas of the U.S. District Court for the Southern District of New York dismissed the appeal of JJ Arch LLC from an October 11, 2024 Opinion and Order entered by Judge John P. Mastando III of the United States Bankruptcy Court for the Southern District of New York that dismissed the Debtor's Chapter 11 petition for cause. The Bankruptcy Court's decision and order of dismissal is affirmed. JJ Arch is a real estate holding company formed by Jared Chassen and Jeffrey Simpson under the laws of New York in December of 2017. JJ Arch's assets include membership rights in Arch Real Estate Holdings ("AREH") and membership interests in other entities. 608941 NJ, Inc., also known as "Oak," is AREH's sole other member. On August 15, 2023, Mr. Simpson filed a derivative action on behalf of JJ Arch and AREH in New York State Supreme Court before the Honorable Joel M. Cohen (the "State Court Proceeding"). In November 2023, Judge Cohen issued several interim orders addressing the provisional governance of both the Debtor and AREH. Mr. Simpson unilaterally filed a petition for Chapter 11 relief on behalf of the Debtor on March 7, 2024. On March 14, 2024, Mr. Chassen filed a Motion for an Order Dismissing the Debtor's Bankruptcy Case. That motion argued that the Debtor's petition should be dismissed because the Debtor's Operating Agreement, together with the orders in the State Court Proceeding, leave no doubt that Mr. Simpson not only lacked authority to bring the Petition, but that this filing is in bad faith and in contempt of court. Mr. Chassen and AREH also filed motions to lift the automatic bankruptcy stay on March 25, 2024. The Bankruptcy Court granted the lift-stay motions on June 10, 2024, and dismissed JJ Arch's Chapter 11 petition for cause on October 11, 2024. JJ Arch appealed the Bankruptcy Dismissal Opinion on November 14, 2024. The Bankruptcy Court dismissed the Chapter 11 petition on several enumerated grounds for "cause": (i) substantial or continuing loss to or diminution of the estate and an absence of a reasonable likelihood of rehabilitation, per Section 1112(b)(4)(A) of the Bankruptcy Code; (ii) gross mismanagement of the estate, per Section 1112(b)(4)(B); and (iii) unexcused failure to satisfy timely any filing or reporting requirements, per Section 1112(b)(4)(F). The Bankruptcy Court also dismissed the petition on one widely accepted unenumerated ground for "cause": bad faith. Finally, the Bankruptcy Court found that Section 1112(b)(2) did not provide an exception to dismissal and concluded that each adversary proceeding associated with this bankruptcy should be dismissed. According to the District Court, the Bankruptcy Court did not abuse its discretion in concluding that there was cause to dismiss the case pursuant to Section 1112(b)(4). Its finding of cause was not based on clearly erroneous or insufficient factual findings or on an erroneous view of the law. The District Court says the Bankruptcy Court's conclusion that there was substantial or continuing loss to or diminution of the estate under Section 1112(b)(4)(A) is well-supported in the record. The Bankruptcy Court's finding that there is absence of a reasonable likelihood of rehabilitation" within the meaning of Section 1112(b)(4)(A) similarly finds ample support in the record. Judge Vargas explains, "The Debtor's proposed liquidation Plan contemplated paying all allowed administrative claims, secured claims, and general unsecured claims in full via the sale of certain properties owned by non-AREH entities. Yet the Debtor was prohibited from transferring those properties in this manner by Judge Cohen's orders in the state court proceedings. The proposed Plan was thus unconfirmable, and there was no other prospect of rehabilitation on the horizon that would justify the continued incursion of administrative expenses." The District Court finds the Bankruptcy Court's additional determinations of gross mismanagement of the estate under Section 1112(b)(4)(B) and an unexcused failure to satisfy timely any filing or reporting requirements per 1112(b)(4)(F) are similarly well founded based on, inter alia, the Debtor's post-petition lack of income; excessive accrual of expenses; and failure to timely file a single monthly operating report, open a debtor-in-possession bank account, or adequately explain significant financial discrepancies. A copy of the Court's Opinion and Order dated June 5, 2026, is available at https://urlcurt.com/u?l=e2bcz4 About JJ Arch JJ Arch, LLC, is a vertically integrated real estate owner, operator and developer with an active investment portfolio with more than 5.7 million square feet across the United States. The Debtor filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. S.D.N.Y. Case No. 24-10381) on March 7, 2024, with $1 million to $10 million in assets and $100,000 to $500,000 in liabilities. Jeffrey Simpson, managing member, signed the petition. Judge John P. Mastando III oversees the case. Jonathan S. Pasternak, Esq., at Davidoff Hutcher & Citron LLP, is the Debtor's legal counsel. JMK5 ABILENE: Voluntary Chapter 11 Case Summary ----------------------------------------------- Debtor: JMK5 Abilene LLC 1204-1210 Grape Street Abilene, TX 79601 Business Description: JMK5 Abilene LLC is a single-asset real estate company whose real estate asset is described as a 9.44-acre shopping center in Abilene, Texas. Chapter 11 Petition Date: June 2, 2026 Court: United States Bankruptcy Court Southern District of Texas Case No.: 26-80395 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: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Jerome Karam as manager. The Debtor submitted the required list of its 20 largest unsecured creditors, but provided no names. A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/A2QD5RA/JMKS_Abilene_LLC__txsbke-26-80395__0001.0.pdf?mcid=tGE4TAMA JOHNSON 2944: Involuntary Chapter 11 Case Summary ------------------------------------------------- Alleged Debtor: Johnson 2944 Equity Partners Inc. 120 Galice Road Unit B Merlin OR 97532 Involuntary Chapter 11 Petition Date: June 4, 2026 Court: United States Bankruptcy Court District of Oregon Case No.: 26-61555 Petitioners' Counsel: Unknown A full-text copy of the Involuntary Petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/XZPASEY/Johnson_2944_Equity_Partners_Inc__orbke-26-61555__0001.0.pdf?mcid=tGE4TAMA Alleged creditors who signed the petition: Petitioner Nature of Claim Claim Amount Ty Kirkpatrick $192,858 150 Merlin Road #98 Merlin, Oregon 97532 KAH HOSPICE: S&P Rates Proposed $1.96BB First-Lien Term Loan 'B-' ----------------------------------------------------------------- S&P Global Ratings assigned its 'B-' issue-level rating and '3' recovery rating to KAH Hospice Co. Inc.'s (Gentiva) proposed new revolving credit facility (RCF), $1.96 billion first-lien term loan due in June 2031 and $500 million senior secured notes due in June 2031, issued by borrowing subsidiary Charlotte Buyer Inc. At the same time, KAH increased the size of its existing revolver to $600 million from $405 million and extended its maturity by about four years to June 2031. S&P said, "The '3' recovery rating indicates our expectation for meaningful (50%-70%; rounded estimate: 50%) recovery in the event of a payment default. We also revised the estimated recovery percentage on the term loan to 50% from 55%, reflecting the single tranche structure. KAH plans to use the proceeds to repay its $70 million outstanding under current revolver, refinance both its $2.11 billion of first-lien term loan and $250 million second-lien term loan, and pay transaction-related expenses. We expect the transaction will have minimal effect on adjusted leverage, with only a slight increase in total debt. "Our 'B-' issuer credit rating and stable outlook on Gentiva reflect our expectation that its decent scale and strong referral sources will enable it to generate strong cash flow and maintain stable margins." Issue Ratings--Recovery Analysis Key analytical factors -- Gentiva's proposed capital structure will comprise of a $600 million revolver due 2031, a $1.96 billion first-lien term loan due 2031, and a $500 million secured notes due 2031. -- S&P's simulated default contemplates a decline or adverse change in reimbursement rates or patient volumes, causing profitability to drop and leaving Gentiva unable to meet its fixed charges. -- S&P assumes that in a hypothetical bankruptcy, Gentiva's $600 million revolving credit facility would be 85% drawn. -- Given its market position and the continued demand for its services, S&P believes the company would remain a viable business. Therefore, it expects Gentiva would reorganize rather than liquidate following a payment default. Simulated default assumptions -- EBITDA at emergence: $309 million -- EBITDA multiple: 5.5x -- Default year: 2028 Simplified waterfall -- Gross recovery value: $1.698 billion -- Net recovery value (after 5% administrative costs): $1.612 billion -- Valuation split (obligors/nonobligors): 100%/0% -- Value available to first-lien debt claims: $1.612 billion -- Secured first-lien debt claims: $3.093 billion --Recovery expectations: 50%-70% (rounded estimate: 50%) Note: All debt amounts include six months of prepetition interest. KUBERA HOTEL: Court OKs Deal to Extend Cash Collateral Access ------------------------------------------------------------- The U.S. Bankruptcy Court for the Northern District of California, Oakland Division, approved a seventh stipulation allowing Kubera Hotel Properties, LP to use the cash collateral of its secured creditor, Wilmington Trust National Association. Under the seventh stipulation, the Debtor is authorized to use cash collateral through July 31 to pay the expenses set forth in its monthly budget, which shows total expenses of $109,482. In return, Wilmington will continue to receive a monthly payment of $15,000 and a replacement lien on the Debtor's assets, with the same validity, priority and extent as its pre-bankruptcy lien. The stipulation is available at http://bankrupt.com/misc/KuberaHotel_7StipCC.pdf Wilmington is represented by: Meagen E. Leary, Esq. Marcus O. Colabianchi, Esq. Geoffrey A. Heaton, Esq. Duane Morris, LLP Spear Tower One Market Plaza, Suite 2200 San Francisco, CA 94105-1127 Telephone: +1 415 957 3000 Fax: +1 415 957 3001 mcolabianchi@duanemorris.com gheaton@duanemorris.com About Kubera Hotel Properties LP Kubera Hotel Properties LP operates a 113-room hotel located at 920 University Avenue, Berkeley, California. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Cal. Case No. 25-40996) on June 6, 2025. In the petition signed by Pradeep Kantilai T. Khatri, chief executive officer, the Debtor disclosed up to $50 million in both assets and liabilities. Judge Charles Novack oversees the case. Ryan C. Wood, Esq., at the Law Offices of Ryan C. Wood, Inc., represents the Debtor as bankruptcy counsel. LACEY'S INVESTMENT: Tamara Miles Ogier Named Subchapter V Trustee ----------------------------------------------------------------- The Acting U.S. Trustee for Region 21 appointed Tamara Miles Ogier, Esq., at Ogier, Rothschild & Rosenfeld, PC as Subchapter V trustee for Lacey's Investment Properties LLC. Ms. Ogier will be paid an hourly fee of $475 for her services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Ms. Ogier declared that she is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Tamara Miles Ogier, Esq. Ogier, Rothschild & Rosenfeld, PC P.O. Box 1547 Decatur, GA 30031 Phone: (404) 525-4000 About Lacey's Investment Properties LLC Lacey's Investment Properties LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ga. Case No. 26-57202) on June 1, 2026, with $1 million to $10 million in assets and liabilities. LITHOTYPE COMPANY: Court Extends Cash Collateral Access to July 10 ------------------------------------------------------------------ The U.S. Bankruptcy Court for the Northern District of Illinois, Eastern Division, entered a fifth interim order authorizing Lithotype Company Inc. to use cash collateral to fund operations. The authorization is temporary, covering the period from June 5 through July 10, pending a final hearing. Under the fifth interim order, the Debtor is authorized to use funds strictly in line with a court-approved budget. The Debtor cannot exceed budget line items or total spending by more than 10%, nor shift funds between categories without consent from Old National Bank or the court. Moreover, cash collateral cannot be used to pay professional fees unless specifically approved. All incoming cash, including receivables must be deposited into a debtor-in-possession account maintained at Old National Bank, and no other bank accounts are permitted without approval. To protect the bank's interests, the Debtor is required to make payments, including a prior $75,000 payment and an additional $25,000 payment. If unpaid, the bank may directly debit the DIP account. As additional protection, Old National Bank will be granted replacement liens on post-petition assets such as cash, receivables, and inventory, maintaining the same priority as its pre-petition liens. The Debtor must also maintain insurance and name the bank as loss payee. The order requires weekly reporting, including cash flow statements, receivables data, and bank statements, giving Old National Bank full visibility into operations. Any default such as unauthorized spending, reporting failures, or insurance lapses triggers a seven-day cure period, after which the bank can seek to terminate cash collateral use or lift the automatic stay. A final hearing is scheduled for July 7. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/K8jTB from PacerMonitor.com. Old National Bank, as lender, is represented by: Adam B. Rome, Esq. Greiman, Rome, & Griesmeyer, LLC 205 W. Randolph St., Ste. 2300 Chicago, IL 60606 Phone: 312-428-2750 arome@grglegal.com About Lithotype Company Inc. Lithotype Company Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 26-02207) with $1 million to $10 million in assets and $10 million to $50 million in liabilities. The petition was signed by John E. Gerba as director of finance. Judge Daniel R. Fine oversees the case. The Debtor is represented by: Scott R. Clar, Esq. Crane, Simon, Clar & Goodman 312-641-6777 sclar@cranesimon.com LS INTERIORS: Amends Unsecured Claims Pay Details ------------------------------------------------- LS Interiors Group, Inc., submitted an Amended Small Business Plan of Reorganization under Subchapter V dated May 29, 2026. This Plan of Reorganization under chapter 11 of the Bankruptcy Code proposes to pay creditors of the Debtor from the future profits and revenue of the Debtor. Based on the plan projections, the Debtor's quarterly disposable income to be committed to the payment of claims for the 5-year period varies, but most quarterly payments will be in the amount of $27,807.00. Only two quarterly payments will be less than $27,807.00, namely first quarter payment will be $14,060.64, and the second quarter payment will be $23,224.88. For each quarterly payment made, the general unsecured class 2 will share pro rata distribution of the quarterly payment, until all class 2 claims are paid in full. Class 1 consists of the Secured Claim of the U.S. Small Business Administration. The Class 1 claim in the amount of $150,012.00 shall be paid in full, as follows: upon the Effective Date, the Debtor shall pay to this creditor any arrearage outstanding, which is in the approximate amount of $4,386.00, to bring the loan current. Thereafter, the Debtor will remain current with monthly payments as per the loan contract, in the approximate amount of $731.00 per month. Class 2 consists of General Unsecured Claims. Every holder of a Class 2 nonpriority general unsecured claim against the Debtor shall receive its pro-rata share of each quarterly payment as set forth in the table attached hereto as Exhibit C, under the column "Plan Payment". Such payments will continue until this class is paid in full. Payments to Class 2 creditors shall be made quarterly and shall begin no later than ninety days following the Effective Date. The actual payment for a quarter will be made in the first week of the succeeding quarter. Should the Debtor's income not be adequate to pay a quarterly payment, no payment will be made in that quarter. The projections call for a total payment over the 5-year period of $537,811.52, which is more than necessary to pay this class in full. This will allow, if need be, for the Debtor to miss a payment should income be insufficient, and still satisfy this class with the 5-year period. The Debtor's Plan will be implemented through the Debtor's business operations and then payment to creditors from disposable income. A full-text copy of the Amended Plan dated May 29, 2026 is available at https://urlcurt.com/u?l=A3Ffa8 from PacerMonitor.com at no charge. Counsel to the Debtor: Brian S. Behar, Esq. Behar, Gutt & Glazer, PA 1855 Griffin Road Fort Lauderdale, FL 33004 Telephone: (954) 266-3710 Email: bsb@bgglaw.com About LS Interiors Group Inc. LS Interiors Group, Inc., filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. S.D. Fla. Case No. 26-11143) on January 29, 2026, listing assets of up to $50,000 and liabilities of $100,001 to $500,000. Tarek Kiem, Esq., at Kiem Law, PLLC serves as Subchapter V trustee Judge Erik P. Kimball presides over the case. Brian S. Behar, is the Debtor's legal counsel. LUCY COOPER: Gets Final OK to Use Cash Collateral ------------------------------------------------- The U.S. Bankruptcy Court for the Western District of Texas granted Lucy Cooper's, LLC final authority to use cash collateral. Under the final order, the Debtor may use cash collateral solely for the expenses outlined in the budget attached to the order. This authorization provides the company with access to funds necessary to maintain business operations while pursuing its reorganization efforts. The Debtor projects total operational expenses of $117,484.00 for June. As adequate protection, any creditor holding a valid and perfected pre-petition security interest is granted replacement liens on the Debtor's post-petition collateral. These replacement liens extend to the same categories of property that secured the creditors' claims before bankruptcy, including related proceeds, rents, products, and profits, and are intended to protect against any decline in collateral value resulting from the use of cash collateral. If the replacement liens and other protections prove insufficient, secured creditors may seek a superpriority administrative claim for any proven diminution in collateral value, subject to a separate court order. The court also clarified that existing and future Texas ad valorem tax liens and statutory tax liens will retain their priority and will not be subordinated to the replacement liens granted under the order. The final order is available at http://bankrupt.com/misc/LucyCoopers_FCCOrder.pdf Lucy Cooper's' business is largely cash-based, with only minimal, short-term credit card receivables generated by processing delays, and that lenders claim security interests in these receivables. Immediate access to cash collateral is essential to pay utilities, employees, vendors, food and beverage costs, and other ordinary operating expenses necessary to preserve assets and maintain going-concern value. The Debtor's cash collateral is subject to pre-bankruptcy liens held by Veritex Community Bank, Image Capital Partners, Cornerstone Funding 18 LLC, and TK Vision Capital. About Lucy Cooper's LLC Lucy Cooper's, LLC operates a cash business, with most sales coming in the form of cash, ACH payment or credit card payment. Lucy Cooper's filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. W.D. Texas Case No. 26-50088) on January 9, 2026, listing up to $100,000 in assets and up to $10 million in liabilities. Braunda M. Smith, president of Lucy Cooper's, signed the petition. Judge Craig A. Gargotta oversees the case. The Debtor tapped William R. Davis, Jr., Esq., at Langley & Banack, Inc., as legal counsel and Blaise C. Bender, PC as accountant. . Michael O'Connor serves as Subchapter V trustee for the Debtor. MADISYN ON PARK: To Sell Clearwater Property to U.S. Bank Trust --------------------------------------------------------------- Madisyn on Park, LLC seeks approval from the U.S. Bankruptcy Court for the Middle District of Florida, Tampa Division, to sell Property, free and clear of liens, claims, interests, and encumbrances. The Debtor is a single-asset real estate entity that owns a 15-unit apartment complex located at 1410 Park Street, Clearwater, FL 33755. On or about November 20, 2025, U.S. Bank Trust Company, National Association, as Trustee for the Registered Holders of Wells Fargo Commercial Mortgage Securities, Inc., Multifamily Mortgage Pass-Through Certificates, Series 2022-SB103 (Lender) initiated a foreclosure action by virtue of filing a complaint against, inter alia On January 27, 2026, the state court in the Foreclosure Action entered a Final Judgment of Foreclosure against the Debtor in the amount of $2,157,177.47. On March 9, 2026, the Debtor filed a voluntary petition for relief under chapter 11 of the Bankruptcy Code. On June 8, 2026, Lender filed its Amended Proof of Claim No. 1 in the amount of $2,180,562.56, which – based upon a recent appraisal of the Property – is secured in the amount of $2,000,000.00 and unsecured in the amount of $180,562.56. The Debtor concedes that the Property has no equity. The Debtor seeks authority to conduct a private sale of the Property (including all fixtures, equipment, and appliances) to Lender - via a $2,000,000.00 credit bid of the Judgment - free and clear of all liens, claims, and encumbrances. The Debtor's lack of any substantial income to both service the debt and maintain the Property, the current economic conditions affecting the real estate market, and the likely inability of the Debtor to confirm a Plan of reorganization over Lender’s objections – the Debtor has concluded that consummation of the Sale via a credit bid to Lender is a sound exercise of its business judgment and is in the best interest of the Debtor and its bankruptcy estate. The Debtor further requests that this Court find that the Lender is a good-faith purchaser entitled to the protections of Section 363(m) of the Bankruptcy Code. Lender consents to the proposed private sale of the Property to Lender via a $2,000,000.00 credit bid of the Judgment conditioned upon entry of an Order by the Court approving the sale to Lender free and clear of all liens, claims, end encumbrances, as well as a closing on the sale of the Property within five days of entry of an Order approving the sale. In view of the confirmation hearing scheduled on June 24, 2026, and to avoid the incurrence of further administrative expenses of the estate, the Debtor requests an expedited hearing on or before June 24, 2026, and that this Court waive the 14-day stay period following the entry of an order approving the Motion. Madisyn on Park, LLC seeks approval from the U.S. Bankruptcy Court for the Middle District of Florida, Tampa Division, to sell Property, free and clear of liens, claims, interests, and encumbrances. The Debtor is a single-asset real estate entity that owns a 15-unit apartment complex located at 1410 Park Street, Clearwater, FL 33755. On or about November 20, 2025, U.S. Bank Trust Company, National Association, as Trustee for the Registered Holders of Wells Fargo Commercial Mortgage Securities, Inc., Multifamily Mortgage Pass-Through Certificates, Series 2022-SB103 (Lender) initiated a foreclosure action by virtue of filing a complaint against, inter alia On January 27, 2026, the state court in the Foreclosure Action entered a Final Judgment of Foreclosure against the Debtor in the amount of $2,157,177.47. On March 9, 2026, the Debtor filed a voluntary petition for relief under chapter 11 of the Bankruptcy Code. On June 8, 2026, Lender filed its Amended Proof of Claim No. 1 in the amount of $2,180,562.56, which – based upon a recent appraisal of the Property – is secured in the amount of $2,000,000.00 and unsecured in the amount of $180,562.56. The Debtor concedes that the Property has no equity. The Debtor seeks authority to conduct a private sale of the Property (including all fixtures, equipment, and appliances) to Lender - via a $2,000,000.00 credit bid of the Judgment - free and clear of all liens, claims, and encumbrances. The Debtor's lack of any substantial income to both service the debt and maintain the Property, the current economic conditions affecting the real estate market, and the likely inability of the Debtor to confirm a Plan of reorganization over Lender’s objections – the Debtor has concluded that consummation of the Sale via a credit bid to Lender is a sound exercise of its business judgment and is in the best interest of the Debtor and its bankruptcy estate. The Debtor further requests that this Court find that the Lender is a good-faith purchaser entitled to the protections of Section 363(m) of the Bankruptcy Code. Lender consents to the proposed private sale of the Property to Lender via a $2,000,000.00 credit bid of the Judgment conditioned upon entry of an Order by the Court approving the sale to Lender free and clear of all liens, claims, end encumbrances, as well as a closing on the sale of the Property within five days of entry of an Order approving the sale. In view of the confirmation hearing scheduled on June 24, 2026, and to avoid the incurrence of further administrative expenses of the estate, the Debtor requests an expedited hearing on or before June 24, 2026, and that this Court waive the 14-day stay period following the entry of an order approving the Motion. About Madisyn on Park LLC Madisyn on Park, LLC filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. M.D. Fla. Case No. 26-01810) on Mar. 9, 2026, listing up to $10 million in both assets and liabilities. Samantha L. Dammer, Esq., at Bleakley Bavol Denman & Grace represents the Debtor as counsel. U.S. Bank Trust Company, acting as trustee for a commercial mortgage securities trust, is represented by Harris J. Koroglu, Esq., at SHUTTS & BOWEN LLP, in Miami, Florida. MANNATECH INC: Shareholders Elect 2 Directors, Ratify BDO --------------------------------------------------------- Mannatech Inc. shareholders elected two Class III directors, ratified BDO USA, P.C. as auditor and approved executive compensation at the company's June 2 annual meeting, according to a filing with the Securities and Exchange Commission. The company said 1,369,880 shares were represented in person or by proxy at the meeting, or about 71.0% of total shares outstanding. Shareholders elected John A. Seifrick and Robert Toth as Class III directors. Seifrick received 879,504 votes for and 213,248 withheld, while Toth received 937,930 votes for and 154,822 withheld. Each director election had 277,128 broker non-votes. Shareholders ratified BDO USA, P.C. as the company's independent public accounting firm for the fiscal year ending Dec. 31, 2026, with 1,205,072 votes for, 164,415 against and 393 abstentions. Shareholders also approved, on an advisory basis, executive compensation, with 947,313 votes for, 143,740 against, 1,699 abstentions and 277,128 broker non-votes. About Mannatech Inc. Headquartered in Flower Mound, Texas, Mannatech Inc. is a global wellness solution provider that develops and sells proprietary nutritional supplements, skin care and anti-aging products, and weight-management products. The company sells products in the Americas, Europe, the Middle East, Africa and Asia/Pacific, principally through network marketing distribution channels. The company's latest annual report included an auditor paragraph stating that continued declines in net sales, negative cash flows from operations and liquidity constraints during 2025 raised substantial doubt about its ability to continue as a going concern. BDO USA, P.C. signed the report dated April 15, 2026. As of March 31, 2026, the company reported total assets of $29.88 million, total liabilities of $35.44 million and a total stockholders' deficit of $5.55 million. MARAVAI TOPCO: S&P Alters Outlook to Stable, Affirms 'B-' ICR ------------------------------------------------------------- S&P Global Ratings affirmed its 'B-' issuer credit rating and revised the outlook on Maravai Topco Holdings LLC to stable from negative. The stable outlook reflects our expectation that Maravai will generate breakeven to positive FOCF over the next few years, supported by revenue expansion from improving pharmaceutical and biotech research activity and reduced fixed costs following its restructuring. The transaction materially reduced debt and eliminated near-term refinancing risk. Maravai recently completed a comprehensive refinancing transaction, through which it raised a new (unrated) credit facility comprising a $30 million revolving facility and $150 million term loan A, both due in 2032. Maravai used the proceeds, together with its cash balance, to fully repay the outstanding $242 million on its previous term loan. The transaction reduced its debt by about $92 million, equivalent to about 2.6x turns of leverage, based on its expected EBITDA in 2026. While the interest rate on the new facility increased by 200 basis points (bps) to SOFR plus 500 bps, S&P estimates the total interest expense will decline to about $20 million in 2026 and $15 million in 2027, from $25 million in 2025, improving cash flow. Demand recovery and cost reductions will likely improve operations, bolstering Maravai's credit metrics. Maravai's first-quarter 2026 results outperformed expectations. Revenue grew 40.5% to about $66 million, and S&P Global Ratings-adjusted EBITDA expanded to positive $19 million from negative $11 million. Orders for its CleanCap technology from the commercial phase of COVID-19 vaccine programs contributed $14.3 million in revenue, while the remaining businesses (TriLink excluding CleanCap, and Cygnus) expanded approximately $5 million, or about 10%. S&P said, "While we do not expect further contributions from CleanCap for the rest of the year, in line with the company's guidance, we believe tailwinds in the core businesses will support about $6 million in revenue expansion over the next three quarters, resulting in total revenue of about $210 million in 2026, compared with $186 million in 2025. "Our base case assumes CleanCap revenue stabilizes at around $15 million annually starting in 2027. However, we believe there is significant risk to this scenario, given uncertain longer-term prospects for COVID-19 vaccines and CleanCap vaccine-related demand. "After several years of weakened pharmaceutical research and development (R&D) spending and biotech funding exacerbated by uncertainty around drug pricing, tariffs, and funding for the U.S. Food and Drug Administration and National Institutes of Health, we believe the market environment is improving. Pharmaceutical R&D budgets and biotech funding rebounded in late 2025, partially due to agreements between major pharmaceuticals and the Trump administration. "We believe improved funding for development projects will support growing demand for Maravai's complex nucleic acids and related products in its TriLink segment. We forecast high-single-digit percent revenue growth for TriLink, excluding CleanCap. We also project modest 2% growth in bioproduction testing under the Cygnus segment." S&P Global Ratings-adjusted EBITDA margins improved to 33.6% in the first quarter, driven by high-margin CleanCap revenue and cost-reduction measures implemented in 2025. Without additional CleanCap contributions, we expect lower EBITDA margins for the rest of 2026. S&P said, "Still, we anticipate annual S&P Global Ratings-adjusted EBITDA improving to about $35 million (approximately 16% EBITDA margin) from our previous forecast of about $15 million, stemming primarily from significant cost restructuring, with Maravai targeting over $65 million in cost reductions annually. In 2025, S&P Global Ratings-adjusted EBITDA was a deficit of $34 million. "Our base case expects leverage will decline to 6x-7x by the end of 2026 and further to 5x-6x in 2027. We also expect Maravai will generate approximately breakeven FOCF in 2026, rising to $5 million-$10 million in 2027. This compares with a $71 million deficit in 2025. "If the company's earnings outperform our base case, it could trigger a change in liability under Maravai's tax receivable agreement." Maravai received tax benefits when its pre-IPO owners exchanged their partnership interests for publicly traded shares. Its tax receivable agreement (TRA) requires the company to share 85% of these accumulated tax savings with pre-IPO owners, consisting primarily of GTCR and founders, when they are realized. However, due to a significant reduction in Maravai's earnings, as of Dec. 30, 2023, the company had derecognized the remaining $665.3 million noncurrent liability under the TRA after concluding it was not probable it would realize the remaining tax benefits, based on estimates of future taxable income. As of March 31, 2026, Maravai's position on this matter is unchanged, and there were no liabilities outstanding associated with the TRA. Accordingly, our credit metrics do not include this liability. S&P said, "However, if Maravai's operating performance improves beyond our base case, such that it would be in a position to utilize the tax benefits, it would also become liable for the TRA payments, and incorporating this liability could lead to material changes in our credit metrics. That said, this scenario would also reflect higher earnings compared with our base case. "The stable outlook reflects our expectation that Maravai will generate breakeven to modestly positive FOCF over the next few years, supported by our forecast for revenue expansion from improving pharmaceutical and biotech research activity and reduced fixed costs following restructuring efforts." S&P could consider a negative rating action if it believes Maravi's FOCF will remain negative over the longer term. This could materialize if: -- Revenue from mRNA vaccines is materially lower than our base case; -- Pharmaceutical and biotech R&D funding decreases, resulting in reduced demand for the company's technologies; and -- EBITDA and cash flow remain suppressed despite cost reductions, potentially leading to an unsustainable capital structure. S&P could consider raising the rating to 'B' if Maravai's operating and financial performance continue to recover, with consistent demand across various business lines, such that total revenue expands by a mid-single-digit percent, S&P Global Ratings-adjusted EBITDA improves, and the company sustains leverage below 6x and S&P Global Ratings-adjusted FOCF to debt consistently above 3%. MARYLAND HEALTH: Seeks to Extend Plan Exclusivity to Oct. 5 ----------------------------------------------------------- Maryland Health Alliance, Inc., asked the U.S. Bankruptcy Court for the District of Maryland to extend its exclusivity period to file a plan of reorganization and obtain acceptance thereof to Oct. 5 and Dec. 7, 2026, respectively. The Debtor explains that this case involves a healthcare organization with complex revenue streams from multiple healthcare payors, including insurance companies and government healthcare programs. The complexity of the Debtor's financial affairs is further compounded by the fact that, following the Petition Date, it took several months to redirect deposits of healthcare payor revenue from the Debtor's pre-petition bank account to the debtor-in-possession ("DIP") account. This transition has now been completed, but the delay consumed significant administrative time and attention during the early months of the case. Additionally, two creditors continued to withdraw funds from the Debtor's prepetition bank account post-petition, despite demand that they cease doing so. One of these creditors, Pinnacle Business Funding, LLC, withdrew approximately $90,000 in post-petition funds, and the Debtor has been compelled to file an adversary proceeding against it to recover those funds. The prosecution of this adversary proceeding adds an additional layer of complexity to the case and has necessarily diverted the Debtor's resources and attention. The Debtor claims that it requires additional time to resolve the objection to the claim of the Internal Revenue Service and the adversary proceeding Pinnacle Business Funding, LLC, and develop projections necessary to formulate a feasible plan of reorganization. The Debtor cannot responsibly propose a plan without the benefit of accurate financial data, which is being developed with the assistance of Mr. Strauss. Moreover, the resolution of the adversary proceeding against Pinnacle Business Funding, LLC that wrongfully took approximately $90,000 in post-petition funds is relevant to plan formulation, as the outcome of that proceeding will affect the assets available to the estate and the treatment of creditors under any proposed plan. Resolution of the objection to the claim of the Internal Revenue Service is also relevant to plan formation, as the outcome of this matter will affect the treatment of the Internal Revenue Service under any proposed plan. The Debtor asserts that it is not seeking this extension to pressure creditors or to use exclusivity as a tactical weapon. Rather, the Debtor seeks additional time for the legitimate purpose of completing the administrative steps necessary to formulate a viable plan, including resolution of the adversary proceeding against Pinnacle Business Funding, LLC and the objection to the claim of the Internal Revenue Service. This is the Debtor's second request for an extension of the exclusivity period. The Debtor further asserts that an unresolved contingency exists in the form of the pending adversary proceeding to recover the approximately $90,000 in post-petition funds wrongfully taken by a creditor. The resolution of this adversary proceeding will materially affect the estate's financial position and, consequently, the terms of any proposed plan of reorganization. Maryland Health Alliance Inc. is represented by: Eric S. Steiner, Esq. Steiner Law Group, LLC 3030 Greenmount Ave. Suite 300, PMB 83805 Baltimore, MD 21218-690 (410) 670-7060 (phone) (410) 834-1743 (fax) Email: info@steinerlawgroup.com About Maryland Health Alliance Maryland Health Alliance Inc. operates as an outpatient mental health practice providing counseling and rehabilitation services to individuals and families in Maryland. The organization offers group therapy and psychiatric rehabilitation programs with an emphasis on culturally competent care and community engagement. It focuses on promoting personal growth, family well-being, and holistic approaches to mental health within the communities it serves. Maryland Health Alliance Inc. in Greenbelt, MD, sought relief under Chapter 11 of the Bankruptcy Code filed its voluntary petition for Chapter 11 protection (Bankr. D. Md. Case No. 25-19411) on Oct. 8, 2025, listing $500,000 to $1 million in assets and $1 million to $10 million in liabilities. Corey A. Williams as president, signed the petition. STEINER LAW GROUP, LLC, serves as the Debtor's legal counsel. MAYFLOWER CHOICE: Gets Interim OK to Use Cash Collateral -------------------------------------------------------- The U.S. Bankruptcy Court for the District of Maryland granted Mayflower Choice Care, Inc. authority to use cash collateral to fund operations. Under the order, the Debtor is authorized to use cash collateral retroactively to the petition date for ordinary-course business operations. Approved uses include payroll, rent, insurance, and other necessary operating expenses, as well as administrative costs such as payments to attorneys, accountants, and the Subchapter V trustee. The Debtor's use of cash collateral must generally follow the court-approved budget. However, the Debtor is permitted to exceed budgeted amounts by up to 15%, except with respect to owner compensation, which remains subject to the budget limitations. As adequate protection, the U.S. Small Business Administration will be granted replacement liens on and security interests in post-petition property and assets that would have constituted the SBA's pre-petition collateral had the bankruptcy case not been filed. These protections are intended to safeguard the SBA's collateral position while the Debtor continues operating under Chapter 11. The SBA is identified as the Debtor's sole secured creditor as a result of a pre-petition Economic Injury Disaster Loan made during the COVID-19 pandemic. It perfected its security interest through a blanket UCC-1 filing with the Maryland Department of Assessments and Taxation. Under the loan documents, the SBA's lien extends to substantially all of the Debtor's assets, including inventory, equipment, accounts receivable, deposit accounts, healthcare insurance receivables, software, general intangibles, proceeds, and after-acquired property. As of the bankruptcy filing date, the Debtor owed approximately $625,290 on the SBA. About Mayflower Choice Care Inc. Mayflower Choice Care, Inc. sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Md. Case No. 26-12805) on March 17, 2026. At the time of the filing, the Debtor reported assets of up to $50,000 and liabilities of between $500,001 and $1 million. Judge Lori S. Simpson oversees the case. Gilman & Edwards, LLC is the Debtor's legal counsel. MCGLOTHLIN INVESTMENTS: Unsecureds to be Paid in Full in Plan ------------------------------------------------------------- McGlothlin Investments, LLC, filed with the U.S. Bankruptcy Court for the Western District of Virginia a Disclosure Statement describing Plan of Reorganization dated May 29, 2026. The Debtor was formed in 2021 as a real estate investment company. Since its creation, the company has been involved in three distinct subcategories of real estate investment: 1) purchase and development of undeveloped land for construction of modular and "stick-built" single family homes; 2) ownership of mobile home parks, consisting of rental of empty lots for placement of mobile homes by third parties, and rental of lots with mobile homes owned by the company; and 3) ownership and rental of single-family homes. In May 2024, the Debtor purchased a parcel of undeveloped land in Franklin County, Virginia, referred to by the Debtor as "Vista Landing." The Debtor financed its purchase of Vista Landing through a group of lenders, identified collectively as P31 Enterprises and Veronique S. Benjamins. At the time of the purchase of Vista Landing, and the establishment of its loans with P31 Enterprises and Benjamins, the Debtor intended to obtain new financing to pay off the balloon payment through ECT Group International LLC, a lender based in Celebration, Florida. On Sept. 2, 2025, P31 Enterprises and Benjamins provided notice to the Debtor that it intended to conduct a sale of the Vista Landing property under their Deed of Trust and scheduled the sale for Sept. 18, 2025. The Debtor filed the Case to stop the trustee sale of the Vista Landing property, and to seek the Court's protection while it continued its efforts to complete the financing through ECT, or any other alternative source of funding. The Debtor obtained confirmation from ECT in mid-April 2026 that ECT was prepared to move forward with the financing the Debtor had sought since August 2025, subject only to the Court's approval under the Bankruptcy Code. During this period, the Debtor's income consisted almost exclusively of rent payments from the mobile home parks and single-family homes. The Debtor sold a single undeveloped lot in Franklin County, Virginia in Jan. 2025. The Debtor's expenses during this time were for the normal operating expenses of the mobile home parks and single-family residences. Class 4 consists of General Unsecured Claims. Upon review of the Debtor's schedules and claims filed to date, the Debtor estimates unsecured claims of approximately $480,000.00. The Debtor will pay all creditors holding allowed general unsecured claims in full on the Effective Date of the Plan, including all accrued interest, late fees, attorneys' fees, and any other charges. Interest will be paid at the rate of 4.0%, which exceeds the current federal judgment rate of interest. Interest will be deemed to accrue as of the Petition Date. The Debtor's source of funds to pay such claims is funding obtained through its affiliated company, Mack Saige Homes, LLC, which, in turn, has arranged for funding through ECT International Group, LLC, as described in the Plan. Class 4 is impaired. The Debtor's equity holder shall retain his equity in the Debtor but shall not receive any distribution on equity until such time as the Debtor's obligations to its Class 2, 3, and 4 creditors are fully satisfied. This class is unimpaired. Mr. McGlothlin will continue to manage the Debtor's real estate development operations as he has since the company's inception and since the filing date. Upon the entry of any order of the Court authorizing the Debtor's funding through ECT as described in the Plan, the Debtor will obtain funds from Mack Saige Homes in an amount sufficient to pay all holders of claims in Classes 1-4, and distribute payments to creditors as quickly as is feasible. A full-text copy of the Disclosure Statement dated May 29, 2026 is available at https://urlcurt.com/u?l=PYZobh from PacerMonitor.com at no charge. Counsel to the Debtor: Richard D. Scott, Esq. Law Office of Richard D. Scott, PC 4519 Brambleton Ave., Suite 210 Roanoke, VA 24018-3408 Tel: (540) 400-7997 E-mail: richard@rscottlawoffice.com About McGlothlin Investments McGlothlin Investments LLC is a Virginia-based company engaged in real estate ownership, development, and property management. McGlothlin Investments LLCsought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Va. Case No. 25-70840) on Sept. 17, 2025. In its petition, the Debtor reports estimated estimated assets and liabilities between $1 million and $10 million each. Bankruptcy Judge Paul M. Black handles the case. The Debtor is represented by Richard D Scott, Esq. of LAW OFFICE OF RICHARD D SCOTT PC. MITT REAL ESTATE: Todd Hennings Named Subchapter V Trustee ---------------------------------------------------------- The Acting U.S. Trustee for Region 21 appointed Todd Hennings, Esq., at Macey, Wilensky & Hennings, LLP as Subchapter V trustee for MITT Real Estate, LLC. Mr. Hennings will be paid an hourly fee of $450 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Hennings 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 E. Hennings, Esq. Macey, Wilensky & Hennings, LLP 5500 Interstate North Parkway, Suite 435 Sandy Springs, GA 30328 Phone: (404) 584-1222 Email: info@joneswalden.com About MITT Real Estate LLC MITT Real Estate, LLC filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. N.D. Ga. Case No. 26-57122) on May 31, 2026, with $500,001 to $1 million in both assets and liabilities. Gregory C. Okwuosah, Esq., at the Law Offices of Gregory C. Okwuosah, LLC represents the Debtor as bankruptcy counsel. MOUNTAIN POWER: Gets Extension to Access Cash Collateral -------------------------------------------------------- Mountain Power Systems, Inc. received second interim approval from the U.S. Bankruptcy Court for the Eastern District of North Carolina, Raleigh Division, to use cash collateral. The court authorized the Debtor to use cash collateral through July 31, unless modified earlier by court order or replaced by a final order. Cash collateral use is limited to expenditures outlined in the approved budget, with a maximum variance of 110% for any line item. The Debtor's cash collateral consists primarily of bank account funds and accounts receivable. Several of its creditors may claim security interests in substantially all of its personal property, including cash, receivables and inventory based upon multiple UCC-1 financing statements filed between 2020 and 2026. The secured creditors include the U.S. Small Business Administration, Cadence Bank, Parkview Advance LLC, and several filings by corporate service representatives such as C T Corporation System and Corporation Service Company. As adequate protection, creditors will receive replacement liens on post-petition assets of the same character and priority as their asserted pre-petition liens. These liens became automatically perfected as of the petition date without additional filings and remain subject to future challenges regarding validity or priority. If adequate protection proves insufficient, creditors may seek superpriority administrative claims under Bankruptcy Code Section 507(b). Creditors may seek additional adequate protection or termination of cash collateral use upon notice of material default or noncompliance. All parties reserve rights to contest liens, claims, and collateral interests. A further hearing is scheduled for July 28. The second interim order is available at http://urlcurt.com/u?l=b5VyL0from Pacermonitor.com. About Mountain Power Systems Inc. Mountain Power Systems, Inc. is a Chapel Hill, North Carolina-based company that sells and sources motor parts through eCommerce channels. The company provides services related to parts procurement, product data, logistics, fulfillment support, and customer care. It operates across industrial, agricultural, marine, and automotive markets. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. N.C. Case No. 26-02151) on May 12, 2026. In the petition signed by Iliya Sokolovsky, chief executive officer, the Debtor disclosed up to $10 million in both assets and liabilities. Judge David M. Warren oversees the case. Zachary Malnik, Esq., at Waldrep Wall Babcock & Bailey, PLLC represents the Debtor as legal counsel. MOUNTAIN REGIONAL: Plan Exclusivity Period Extended to June 16 -------------------------------------------------------------- Judge Michael F. Thomson of the U.S. Bankruptcy Court for the District of Utah extended Mountain Regional Equipment Solutions, LLC and MRES Holdings, LLC's exclusive periods to file a plan of reorganization and obtain acceptance thereof to June 16 and August 17, 2026, respectively. As shared by Troubled Company Reporter, this Motion is the Debtors' second request for an extension of the Plan Period. It cannot be reasonably asserted that the Debtors are seeking an extension of the Plan Period to unfairly prejudice or pressure the Debtors' creditors. Instead, the extension requested by the Debtors is an exercise of prudent business judgment and an attempt to have adequate time to negotiate terms with secured creditor and other creditors of the estate. In sum, the requested extension of the Plan Period will facilitate the Debtors' efforts to maximize the value of their estates by providing the Debtors with a full and fair opportunity to seek acceptance of their Plans. The Debtors submit that the extension requested herein will increase the likelihood of a greater distribution to creditors than would be possible if the Debtors were required to seek confirmation without additional time to finalize acceptance of the plan with key creditors. Counsel to the Debtors: Jeffrey L. Trousdale, Esq. Cohne Kinghorn, P.C. 111 E. Broadway Eleventh Floor Salt Lake City, UT 84111 Telephone: (801) 363-4300 Facsimile: (801) 363-4378 Email: jtrousdale@ck.law Cameron M. McCord, Esq. JONES & WALDEN LLC 699 Piedmont Ave. NE Atlanta, GA 30308 Phone: (404) 564-9300 Email: cmccord@joneswalden.com 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. Jeffrey L. Trousdale, at Cohne Kinghorn, P.C., is the Debtor's legal counsel. MP OCTOPUS: Court OKs Pizza Restaurant Assets to Mahesh Patel ------------------------------------------------------------- The U.S. Bankruptcy Court for the Middle District of Florida has granted MP Octopus Pizza, LLC and its affiliates, along with Applicable Debtor, MP Big Ben Pizza LLC, to sell substantially all Assets, free and clear of liens, claims, interests, and encumbrances. The Court has authorized the Debtor to sell equipment, fixtures, and furnishings (Assets) for a lump sum payment of $50,000.00 plus payment of outstanding royalties, payroll, standard closing expenses, and final utility and vendor bills to Mahesh Patel. The Motion is granted and conditions with the following terms. Regions Objection and Response in Opposition to Debtor's verified motion to approve sale of MP Big Ben Pizza, LLC's property free and clear of all liens is overruled as moot. The liens of all secured creditors, specifically including Regions and Navitas Credit Corp. (Navitas), will attach to the proceeds from the sale to the same extent, validity, and priority as the liens currently exist against the Purchased Items. The Debtor is authorized to pay all ordinary and necessary closing expenses normally attributed to a seller of personal property at closing. The net sale proceeds, after payment of closing costs, shall be tendered as follows: $8,050 to Navitas with the remaining balance to Regions. Notwithstanding the foregoing, under no circumstance shall Regions receive less than $41,950.00 at closing. Mahesh Patel is a good faith purchaser and therefore entitled to the protection. About MP Octopus Pizza LLC MP Octopus Pizza LLC, doing business as Marco's Pizza, filed Chapter 11 petition (Bankr. M.D. Fla. Case No. 24-06739) on November 15, 2024, with $50,001 to $100,000 in assets and $500,001 to $1 million in liabilities. Terry Burkholder, manager of MP Octopus Pizza, signed the petition. Judge Catherine Peek McEwen oversees the case. Buddy D. Ford, Esq., at Buddy D. Ford, P.A. is the Debtor's legal counsel. ConnectOne Bank is represented by Matthew A. Barish, Esq., at Cole Schotz, in Boca Raton, Florida; and James T. Kim, Esq., at Cole Schotz, in Hackensack, New Jersey. MURPHY'S CONCRETE: Wins Interim Cash Collateral Access ------------------------------------------------------ The U.S. Bankruptcy Court for the District of Nevada granted Murphy's Concrete L.L.C. interim authority to use cash collateral. Under the interim order, the Debtor is authorized to use the cash collateral of United Federal Credit Union, LG Funding, LLC, Advance Servicing, Inc., and Mulligan Funding, LLC. United Federal Credit Union provided a pre-petition line of credit secured by substantially all company assets, while the other secured creditors extended merchant cash advance financing that may also be secured by the Debtor's financial assets. Approximate outstanding balances are listed as $22,000 owed to United Federal Credit Union, $104,000 to LG Funding, $81,706 to Advance Servicing, and $199,071 to Mulligan Funding. Under the interim order, the Debtor may use cash collateral in accordance with an approved budget and may exceed individual budgeted line items by up to 25%. This authority remains effective until the court enters a final order addressing the debtor’s cash collateral request. The court expressly preserved all parties' rights regarding disputes over the validity, extent, or existence of any claimed interest in the cash collateral. A final hearing on the motion is scheduled for June 25. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/Y7x1L from PacerMonitor.com. About Murphy's Concrete L.L.C. Murphy's Concrete L.L.C. filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. D. Nev. Case No. 26-50446) on May 4, 2026, with $100,001 to $500,000 in assets and $500,001 to $1 million in liabilities. Judge Hilary L. Barnes presides over the case. Kevin A. Darby, Esq. at Darby Law Practice, Ltd. represents the Debtor as bankruptcy counsel. NEW YORK: To Sell Neptune Property to DMR Construction Services --------------------------------------------------------------- New York Concourse LLC seeks approval from the U.S. Bankruptcy Court for the District of New Jersey to sell Property, free and clear of liens, claims, interests, and encumbrances. The Debtor's Property is located at 1401 Highway 35 South, Neptune, New Jersey. The Property is encumbered by a mortgage held by 100 Mile Northeast. The Property is further encumbered by a tax sale certificate The Debtor has entered into a contract with DMR Construction Services LLC or its permitted assignee to purchase the Property for $47,700. The sale is an arm's length transaction. The Buyer was procured by the Court approved real estate broker James Dattoli. The broker will be paid a commission for 4% of the purchase price consistent with the order. The proceeds of the sale will be paid to the Debtor's secured creditor and file a plan to distribute the net proceeds to unsecured creditors. About New York Concourse LLC New York Concourse LLC is a single asset real estate company based in Neptune, New Jersey, with its principal place of business at 1401 Highway 35. New York Concourse LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.N.J. Case No. 25-17807) on July 1, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. Honorable Bankruptcy Judge Christine M. Gravelle handles the case. The Debtor is represented by Joseph Casello, Esq. at Collins, Vella & Casello. NEXT GENERATION: Gets Final OK to Use Cash Collateral ----------------------------------------------------- The U.S. Bankruptcy Court for the Western District of Oklahoma entered a final order authorizing Next Generation Roofing, LLC to use cash collateral. Under the order, the Debtor may use cash collateral in accordance with a court-approved budget and may exceed individual budget line items by up to 10% on a rolling four-week basis, with any unused variance carrying forward. The authorization remains effective unless modified by further court order. Farmers Bank retains all rights to seek additional relief, including further adequate protection or modification of the automatic stay if circumstances warrant. As adequate protection, Farmers Bank received first-priority replacement liens on the Debtor's post-petition collateral, subject to existing senior liens and a limited carve-out. The liens are automatically perfected as of the petition date and continue to attach to newly acquired assets and proceeds. If Farmers Bank suffers a diminution in the value of its collateral, it is also granted a superpriority administrative claim, subordinate only to a carve-out of up to $40,000 for approved professional fees and Subchapter V trustee expenses. The order further requires the Debtor to maintain insurance on collateral, remain current on taxes, and comply with all cash collateral terms. Farmers Bank must provide a 30-day notice and opportunity to cure any default before seeking relief from the automatic stay. Additionally, the Debtor must make monthly adequate protection interest payments of approximately $8,700 to Farmers Bank, beginning within five days of the order and continuing until confirmation of a reorganization plan or dismissal or conversion of the case. A copy of the court's order is available at https://shorturl.at/DxzBn from PacerMonitor.com. About Next Generation Roofing LLC Next Generation Roofing, LLC provides roofing installation and inspection services in Oklahoma City, Oklahoma, serving property owners with roof assessments and related exterior-damage evaluations. The company, led by Robert E. Baker, offers roofing contractor services that include support for property inspections and insurance-claim-related assessments. Next Generation Roofing filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. W.D. Oklahoma Case No. 26-11534) on May 6, 2026, with between $1 million and $10 million in both assets and liabilities. Stephen Moriarty, Esq., at Fellers, Snider, Blankenship, Bailey & Tippens, P.C., serves as Subchapter V trustee. Judge Janice D Loyd oversees the case. The Debtor tapped Gary D. Hammond, Esq., and Olivia G. Kilby, Esq., at Hammond Law Firm and Amanda R. Blackwood, Esq., at Blackwood Law Firm, PLLC as bankruptcy counsel. NORTH AMERICAN CONSTRUCTION: S&P Rates New Unsecured Notes 'BB-' ---------------------------------------------------------------- S&P Global Ratings assigned its 'BB-' issue-level rating to North American Construction Group Ltd.'s (NACG; BB-/Negative/--) proposed C$200 million senior unsecured notes due 2031. The recovery rating is '4', indicating S&P's expectation for average recovery (30%- 50%; rounded estimate: 35%) in the event of default. S&P said, "We do not believe the company's financial metrics will be materially affected by the issuance. The company intends to use the proceeds from this issuance primarily to repay the outstanding balance on its revolving credit facility due May 2028. In our view, this makes the transaction credit-neutral and we still expect the company's leverage to be about 3.0x in 2026 and 2.7x in 2027. "We also continue to assume about 35% recovery for unsecured claims in a hypothetical default scenario, leaving our '4' recovery rating on the company's existing unsecured debt unchanged. "We could downgrade NACG within the next 12 months if we expect adjusted debt to EBITDA to remain above 3x. This could occur in the event of a prolonged downturn in commodity markets, leading to weaker demand for the company's services, or if competitive pressures or operating disruptions contribute to lower sustained margins or less business with a key customer. This could also occur if the company pursues a large debt-financed acquisition or distribution. "We could revise our outlook to stable within the next 12 months if credit measures trend in line with or better than we expect, including adjusted debt to EBITDA below 3x. In this scenario, the company would likely generate modest organic revenue growth, steady to improving adjusted EBITDA margins, and higher free operating cash flow to facilitate debt reduction." Issue Ratings--Recovery Analysis Key analytical factors -- S&P updated its recovery analysis to incorporate the proposed C$200 million senior unsecured notes issuance due 2031. S&P assumes they will rank pari passu to the existing unsecured notes in NACG's capital structure and the company will use proceeds primarily to repay the outstanding balance on its revolving credit facility. -- The company's capital structure pro forma the proposed transaction includes the proposed senior unsecured notes, C$350 million unsecured note due 2030, a C$540 million revolving credit facility due May 2028, about C$285 million of equipment financing, and about C$30 million of mortgages. -- S&P's 'BB-' issue-level rating and '4' recovery rating on NACG's senior unsecured debt indicates its expectation for average recovery (30%- 50%; rounded estimate: 35%) in its hypothetical default scenario. -- S&P values NACG on a going-concern basis by applying a 5x multiple to its emergence EBITDA of C$199 million, which is materially lower than its base-case scenario. -- S&P defaults scenario contemplates a default occurring in 2030, caused by a sharp reduction in mining and energy-related activities leading to a substantial decline in NACG's cash flow below current levels. -- S&P assumes the company's C$540 million revolving credit facilities (consisting of a C$300 million tranche and an AU$250 million tranche) will be 85% drawn at default. -- S&P assumes a modest decline in mortgages and equipment financings of about 5% annually over the next few years. Simulated default assumptions -- Simulated year of default: 2030 -- EBITDA at emergence: C$199 million -- EBITDA multiple: 5x Simplified waterfall -- Valuation split in % (obligors/nonobligors): 100/0 -- Net enterprise value at default (after 5% administrative costs): About C$945 million -- Value available to first-lien secured debt claims: C$945 million -- Secured first-lien debt claims: C$735 million -- Value available to unsecured debt: C$210 million -- Total unsecured claims: C$571 million --Recovery expectations: 30%-50%; rounded estimate: 35% OCOEE BOTANICALS: Court Extends Cash Collateral Access to June 25 ----------------------------------------------------------------- Ocoee Botanicals, LLC received another extension from the U.S. Bankruptcy Court for the Eastern District of Tennessee, Cattanooga Division, to use cash collateral. The court entered a second interim order extending the Debtor's authority to use cash collateral from May 28 through June 25. During the interim period, the Debtor must operate in accordance with a court-approved budget and must not exceed budgeted expenditures by more than 10%. Certain merchant cash advance lenders may assert security interests in the Debtor's cash receipts and accounts although the Debor does not concede the validity or extent of those liens. As adequate protection, all potential lenders will be granted post-petition replacement liens on the Debtor's property, with the same priority and extent as their pre-petition liens. The second interim order also includes a carveout for professional fees, costs, and fees payable to the Clerk of the Bankruptcy Court. The authority to use cash collateral will automatically terminate on June 25 unless extended by agreement or court order, or earlier upon occurrence of an event of default, including appointment of a Chapter 11 trustee, conversion of the Debtor's bankruptcy case to Chapter 7, or unauthorized use of cash collateral. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/ziJ8m from PacerMonitor.com. The court scheduled a further hearing for June 25, with objections due by June 22. Ocoee's business was severely disrupted due to prior litigation and a disputed real estate transaction that allegedly led to an improper eviction, forcing it to scale back operations to primarily e-commerce sales while seeking reorganization in bankruptcy. About Ocoee Botanicals LLC Ocoee Botanicals, LLC operates a tourism-focused storefront in Ocoee, Tennessee, offering outdoor apparel, lifestyle goods, a coffee bar, and related products tied to the local rafting tourism economy. Ocoee Botanicals filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. E.D. Tenn. Case No. 26-11036) on April 21, 2026, with between $500,001 and $1 million in both assets and liabilities. Holly Hackler, company owner, signed the petition. Judge Nicholas W. Whittenburg oversees the case. Roy Michael Roman, Esq., at RMR Legal, PLLC, represents the Debtor as bankruptcy counsel. Elisabeth B. Donnovin, Esq., at Johnson & Mulroony, P.C. serves as Subchapter V trustee for the Debtor. ONE CANAL PLACE: Commences Chapter 11 Bankruptcy in New Jersey -------------------------------------------------------------- On June 5, 2026, One Canal Place Real Estate LLC filed for Chapter 11 protection in the U.S. Bankruptcy Court for the District of New Jersey. According to court filings, the Debtor reports between $500 million and $1 billion in debt owed to approximately 50,001 to 100,000 creditors. Debtor's Exclusive Right to File Chapter 11 Plan Expires October 5, 2026 About One Canal Place Real Estate LLC One Canal Place Real Estate LLC is a real estate holding and investment company. The company owns, manages, or develops real estate assets and related property interests. One Canal Place Real Estate LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-16550) on June 5, 2026. In its petition, the Debtor reported estimated assets of $100 million to $500 million and estimated liabilities of $500 million to $1 billion. The Debtor is represented by Michael D. Sirota, Esq. of Cole Schotz P.C. OUTFRONT MEDIA: Moody's Rates New $500MM Sr. Unsecured Notes 'B1' ----------------------------------------------------------------- Moody's Ratings assigned a B1 rating to the new $500 million backed senior unsecured notes due 2034 issued at Outfront Media Capital LLC and Outfront Media Capital Corporation as a co-borrower, both wholly-owned subsidiaries of OUTFRONT Media Inc. (OUTFRONT or the Company). All credit ratings including OUTFRONT's Ba3 Corporate Family Rating and Ba3-PD Probability of Default Rating, as well as Outfront Media Capital LLC's existing Ba1 backed senior secured notes and senior secured bank credit facilities ratings and B1 senior unsecured notes ratings are unaffected by the transaction. The outlook remains unchanged at stable. Moody's expects the terms and conditions of the newly issued obligations to be materially the same as existing obligations of the same class. OUTFRONT intends to use the net proceeds from the financing to repay outstanding indebtedness. Moody's believes the transaction, net of any transaction fees, will not materially impact leverage as Moody's assumes substantially all of the net proceeds being raised combined with a potential mix of existing revolving credit facilities will be similarly sized relative to the debt maturities to be repaid. RATINGS RATIONALE OUTFRONT's Ba3 Corporate Family Rating (CFR) reflects its strong market position in the US outdoor advertising industry, moderate leverage (4.4x as of LTM Q1 2026, Moody's adjusted; 5.2x excluding Moody's operating lease adjustment), and very high profitability, with Moody's adjusted EBITDA margins exceeding 50%. OUTFRONT also benefits from its market position as one of the largest domestic outdoor advertising companies with positions in approximately 120 markets in the US, including all the top 25 markets, and over 550 thousand total displays as of 12/31/2025. The company's revenue and earnings growth profile is very good, with sustained demand for outdoor advertising. The company's ability to increasingly offer digital and programmatic services as the company continues to convert traditional static billboards to digital is also a strong tailwind. The company's business is also less exposed to competition and technology disintermediation given the hard-asset nature of the business, and regulatory and permitting restrictions which control and limit the supply of billboards - supporting advertising rates and very high asset valuations. The rating also incorporates certain risks and constraints including significant concentration of billboards and exposure to large urban cities like New York City (over 55% of all displays, and most in transit) and Los Angeles which generally attract more national advertisers and are therefore more sensitive to the economy and cyclicality. The company's long-term contract with the New York Metropolitan Transit Authority (MTA) (including platform, subway, and railcar displays) through 2030 (with a 5-year extension, electable at the company's option) also has relatively unfavorable economics (generating very marginal earnings) due to minimum payment guarantees and weak revenue growth. The company's REIT structure is also a negative credit factor given at least 90% of the company's taxable income must be distributed to shareholders, which reduces free cash flow when paid in cash. Liquidity is good, as reflected in the Speculative Grade Liquidity (SGL) rating of SGL-2 which is supported by access to an undrawn $500 million revolver due September 2030 ($5.1 million of letters of credits outstanding) and approximately $67 million in cash as of Q1 2026. OUTFRONT also has a $150 million accounts receivable securitization facility, with no outstanding borrowings as of Q1 2026. There is also a $300 million At-the-Market equity (ATM) offering program (no shares were issued over the last five years) that could be used to help fund modest acquisitions or negative free cash flow, though there were no shares sold in 2026 through the first quarter and the remaining capacity is $232.5 million. Liquidity is also supported by the company's ability to pay up to 80% of dividends with stock, which could free up about $200 million (Moody's estimates) in additional cash flow if necessary. The term loan is covenant lite, and the revolver is subject to a maximum consolidated net secured leverage ratio of 4.5x. Moody's expects OUTFRONT will remain well within compliance with their covenants going forward. Outfront Media Capital LLC, an operating subsidiary of OUTFRONT, is the issuer of the company's rated debt. The senior secured bank credit facilities and backed senior secured notes are rated Ba1, two notches above the Ba3 CFR given the loss absorption provided by a significant mix of junior claims – specifically senior unsecured notes rated B1, one notch below the Ba3 CFR. The probability of default rating (PDR) is Ba3-PD. Moody's assumes an average family recovery of 50% in a default scenario due to the mix of secured and unsecured debt in the capital structure. The secured obligations are secured by all assets and the unsecured notes are fully and unconditionally guaranteed, jointly and severally, by the company and its direct and indirect subsidiaries that guarantee the senior credit facilities. The stable outlook reflects Moody's expectations that operating performance will continue to improve due to solid demand for outdoor advertising and the continued conversion of static displays to digital. Moody's expects revenue growth of at least low single digit percent, and expanding EBITDA margins, generating higher earnings and a reduction in leverage to the low 4x range. Moody's expects FFO to debt will rise to high teens percent (Moody's adjusted). FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATING OUTFRONT's ratings could be upgraded if liquidity improves, funds from operations as a percentage of debt is sustained above 20% (Moody's adjusted), leverage improves to below 3.5x (Moody's adjusted) and revenue and earnings continue to rise. OUTFRONT's ratings could be downgraded if leverage was expected to be maintained above 4.5x (Moody's adjusted), liquidity deteriorates, or funds from operations as a percentage of debt is sustained below 15% (Moody's adjusted). Material and unfavorable changes in operating performance (e.g. decline in revenue, earnings or profitability), scale, business model, or market position could also lead to negative rating action. OUTFRONT Media Inc. (OUTFRONT) (fka CBS Outdoor Americas, Inc.) is one of the leading domestic outdoor advertising companies. OUTFRONT was previously an operating subsidiary of CBS Corporation and in 2014 began operating as a REIT. OUTFRONT is a publicly traded company listed on the New York Stock Exchange with reported revenues of approximately $1.9 billion as of LTM Q1 2026. The principal methodology used in this rating was Media published in September 2025. PALM BEACH: Gets Interim OK to Use Cash Collateral -------------------------------------------------- The U.S. Bankruptcy Court for the Southern District of Florida entered an interim order authorizing Palm Beach Sandal Company to use cash collateral. Under the interim order, the Debtor may use cash collateral in accordance with a court-approved budget, with the authorization remaining in effect until a further hearing. Secured lenders including the U.S. Small Business Administration, Byzfunder NY LLC, and ReadyCap Lending will be granted replacement liens to protect against any decline in the value of their cash collateral resulting from the Debtor's use of such funds. These replacement liens do not apply to avoidance actions under sections 542 through 550 of the Bankruptcy Code or to any proceeds derived from those actions. In case the replacement liens prove inadequate, the lenders will receive a superpriority administrative expense claim subordinate to a carveout for fees payable to the Subchapter V trustee, the U.S. Trustee, and the Clerk of the Bankruptcy Court. In addition, the Debtor must make monthly payments of $142 to the SBA, $516.67 to Byzfunder, and $2,551.47 to ReadyCap. The order preserves the rights of creditors and other parties to object to the Debtor's continued use of cash collateral, challenge budget items, or seek additional restrictions or relief at a later date. The court scheduled a further hearing, which may serve as the final hearing on the cash collateral request, for July 15, at 2:00 p.m. in West Palm Beach, Florida. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/V9fdh from PacerMonitor.com. About Palm Beach Sandal Company Palm Beach Sandal Company designs, manufactures, and retails handcrafted leather sandals, producing classic footwear styles using premium leather materials. It operates a workshop and retail presence in West Palm Beach, Florida. Palm Beach Sandal Company filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. S.D. Fla. Case No. 25-25134) on December 23, 2025, listing up to $50,000 in assets and between $1 million and $10 million in liabilities. Aleida Martinez Molina, Esq., serves as Subchapter V trustee for Palm Beach Sandal Company. Judge Erik P. Kimball presides over the case. The Debtor tapped Brian K. McMahon, Esq., at Brian K. McMahon, PA as bankruptcy counsel and Michael A. Lampert, P.A. as special counsel. PARK VIEW: American First Wins Bid to Enforce Stipulation --------------------------------------------------------- Judge Laurie Selber Silverstein of the U.S. Bankruptcy Court for the District of Delaware granted American First National Bank, N.A's motion to enforce a previous stipulation it entered into with Park View Apt LLC. On March 19, 2026, the Office of the United States Trustee moved to dismiss ("Motion to Dismiss") the Park View Apt., LLC ("Debtor") bankruptcy case. Debtor does not oppose dismissal. American First National Bank, N.A ("American First") agrees that the case should be dismissed, but objects to dismissal until Debtor disburses to it all the funds in Debtor's debtor-in-possession bank account ("DIP Account"). Separately, on April 7, 2026, American First filed a motion seeking to enforce a previous stipulation between the parties ("Motion to Enforce"), which essentially seeks the same relief with respect to the DIP Account. Debtor objects to the Motion to Enforce. Debtor filed its bankruptcy case on August 6, 2024. Debtor owned two parcels of land: 719 South Park View Street and 2400 West 7th Street, Los Angeles, California (collectively, the "Property"). From the beginning, American First, Debtor's prepetition secured lender, was the main (and only) creditor participant in the case. Eventually, Debtor filed a plan of reorganization and a confirmation hearing was held on October 7, 2025. American First objected to confirmation. To resolve American First's objection, the Confirmation Order requires American First's claim to be resolved before the plan can go effective. The American First Claim was filed in the amount of $11,193,661.09 (as of July 31, 2025). To ensure Debtor's objection to the American First Claim did not linger, the hearing on the claim objection was scheduled for December 10, 2026. Prior to the scheduled hearing, chambers was informed that the parties had resolved the matter and a stipulation would be submitted under Certification of Counsel. The certification was filed and the Court entered an order ("Stipulated Order") approving the stipulation ("Stipulation") on December 13, 2025. The Stipulation is between Park View Apt, LLC in its capacities as both a debtor and a reorganized debtor and American First. As reflected in the Stipulation, American First's loan to Debtor arises from the following documents: a Bank Promissory Note, a Business Loan Agreement, a Bank Deed of Trust, an Assignment of Rents, a Commercial Guaranty, a Note Modification Agreement and a Certificate of Deposit. In accordance with the terms and conditions of this Stipulation, the Claimant shall have an allowed first-priority secured claim against the Debtor in the total amount of $10,400,000 (the "Claim Amount") as full satisfaction of the Claim, subject to the Claimant's timely, indefeasible receipt of payment in full of the Claim Amount no later than 4:00 p.m. (prevailing Eastern Time) on December 17, 2025, as reflected by a completed wire transfer from escrow to the wiring information confirmed in writing by the Claimant (the "Payment Deadline"). In the event the Claimant does not indefeasibly receive the full Claim Amount by the Payment Deadline, (i) the automatic stay under section 362 of the Bankruptcy Code shall immediately and automatically terminate without further order of the Bankruptcy Court as to the Claimant, with the Debtor's consent, and (ii) the Claimant shall retain and may exercise all of its rights and remedies under applicable law and the Loan Documents, including without limitation the right to enforce and collect the full amount of its indebtedness without regard to the Claim Amount and the Guaranty. Debtor did not pay American First by the Payment Deadline, the plan did not go effective, the automatic stay was terminated and American First exercised its foreclosure rights with respect to the Property. The foreclosure did not satisfy the American First Claim. The issue presented is whether American First, which has an undisputed assignment of and perfected interest in rents, is entitled to the funds in the DIP Account. Per the Monthly Operating Report for the period ended January 31, 2026, there was $419,577 in the DIP Account. Per the initial Monthly Operating Report for the period ended September 30, 2024, there was $237,524 in the DIP Account. Accordingly, it appears that the DIP Account holds rents collected prepetition and postpetition. American First argues that the funds in the DIP Account are its cash collateral since Debtor's only source of revenue is rents. It follows, therefore, that the funds cannot be used without American First's consent and must be turned over to American First before the case is dismissed. Debtor does not deny that American First has an assignment of rents and also perfected its interest in rents prepetition. Nor does it contend that the funds in the DIP Account came from a source other than rents. Rather, Debtor argues that under California law, American First has no right to the funds in the DIP Account because it did not take the required enforcement action against the rents before they were collected. Debtor argues that under California law a lender is not entitled to rents collected prior to taking an affirmative enforcement step, regardless of whether the assignment is characterized as absolute. A lender must demand possession after default, and because American First took no enforcement step prior to foreclosure, it never obtained any right to collect or possess the rents in the DIP Account. American First also did not seek adequate protection, obtain a cash collateral order or pursue any other remedy to obtain possession or control of the rents during the bankruptcy case. Thus, according to Debtor, the rents are property of Debtor's estate and any interest American First had in the rents was, at most, an unexercised security interest. The Court says rents collected prepetition and postpetition and in which the lender has an interest are cash collateral. According to the Court, Park View's argument that American First has no interest in the funds in the DIP Account because it took no steps during the bankruptcy case to protect that interest does not change this result. Judge Silverstein explains, "It is true that American First took no steps during the bankruptcy case to obtain these funds, but Debtor cites no case for the proposition that this was necessary. Per Sec. 363(c)(2), Debtor could not use these funds without consent (which it did not have) or court authorization (which it did not seek). To date, Debtor has honored this mandate. Now, in essence, Debtor seeks to use American First's cash collateral, to which American First objects. As I have determined that the funds in the DIP Account are cash collateral, and it is undisputed that American First's secured claim has not been paid in full, the funds must be turned over to American First." Judge Silverstein concludes that the funds in the DIP Account, which are rents secured by American First's assignment of rents and perfected security interest, are cash collateral. A copy of the Court's Memorandum Order dated June 9, 2026, is available at https://urlcurt.com/u?l=3TCsR3 from PacerMonitor.com. About Park View APT, LLC Park View Apt LLC is a Single Asset Real Estate debtor (as defined in 11 U.S.C. Section 101(51B)). Park View Apt LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 24-11663) on August 6, 2024. In the petition filed by Houshang Neyssani, as sole member and manager, the Debtor estimated assets and liabilities between $10 million and $50 million. Bankruptcy Judge Laurie Selber Silverstein handles the case. The Debtor is represented by BAYARD, P.A., led by Ericka F. Johnson, and Stven D. Adlder. PCMZ NUTRA: Carol Fox of GlassRatner Named Subchapter V Trustee --------------------------------------------------------------- The Acting U.S. Trustee for Region 21 appointed Carol Fox of GlassRatner as Subchapter V trustee for PCMZ Nutra, LLC. Ms. Fox will be paid an hourly fee of $450 for her services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Ms. Fox declared that she is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Carol Fox GlassRatner 200 East Broward Blvd., Suite 1010 Fort Lauderdale, FL 33301 Tel: 954.859.5075 About PCMZ Nutra LLC PCMZ Nutra, LLC is a Lake Worth, Florida-based nutritional supplement company that sells finished sports supplement products, including goods held for resale, to fitness, wellness and sports-nutrition customers. PCMZ Nutra sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 26-17241) on June 1, 2026, with $50,001 to $100,000 in assets and $1,000,001 to $10 million in liabilities. Thomas L. Abrams, Esq. represents the Debtor as legal counsel. PEGASO ENERGY: HKA Global, et al., Win Bid for Compensation ----------------------------------------------------------- Judge Mark X. Mullin of the U.S. Bankruptcy Court for the Northern District of Texas granted the first interim application for compensation relating to Chapter 5 recoveries filed by HKA Global, LLC, and Cavazos Hendricks Poirot, P.C. in the bankruptcy case of Pegaso Energy Services LLC. The Trustee is authorized to pay HKA Global, LLC the amount of $20,000.00 as an interim contingency fee from funds in the estate. The Trustee is authorized to pay Cavazos Hendricks Poirot, P.C. the amount of $20,000.00 as an interim contingency fee from funds in the estate. A copy of the Court's Order dated June 3, 2026, is available at http://urlcurt.com/u?l=csW7FRfrom PacerMonitor.com. Attorneys for John Dee Spicer, Chapter 7 Trustee: Charles B. Hendricks, Esq. CAVAZOS HENDRICKS POIROT, P.C. Suite 570, Founders Square 900 Jackson Street Dallas, TX 75202 Tel: (214) 573-7302 E-mail: chuckh@chfirm.com About Pegaso Energy Services Pegaso Energy Services LLC is an oil field equipment supplier in Texas. Pegaso Energy Services LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Tex. Case No. 24-42429) on July 15, 2024. In the petition filed by John Cole Stout, manager of IFTK Holdings, LLC, the Debtor's manager, the Debtor reports estimated assets between $1 million and $10 million and estimated liabilities between $10 million and $50 million. Judge Mark X. Mullin handles the case. Munsch Hardt Kopf & Harr, PC serves as the Debtor's counsel. The case was convered to Chapter 7 on Oct. 17, 2024. John Dee Spicer is the Chapter 7 trustee. PHOENIX RISING: Andrew Layden Named Subchapter V Trustee -------------------------------------------------------- The Acting U.S. Trustee for Region 21 appointed Andrew Layden as Subchapter V trustee for Phoenix Rising, LLC. Mr. Layden 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. Layden declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Andrew Layden 200 S. Orange Avenue, Suite 2300 Orlando, FL 32801 Telephone: 407-649-4000 Email: alayden@bakerlaw.com About Phoenix Rising LLC Phoenix Rising, LLC, sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 26-03978) on May 29, 2026, with $100,001 to $500,000 in assets and $1,000,001 to $10 million in liabilities. PIXELLE SPECIALTY: S&P Downgrades ICR to 'CCC-', Outlook Negative ----------------------------------------------------------------- S&P Global Ratings lowered its issuer credit rating on Pixelle Specialty Solutions LLC to 'CCC-' from 'CCC+', and its issue-level rating on the senior secured credit facilities to 'CCC-' from 'CCC+'. S&P also revised its recovery rating on the secured facilities to '3' from '4' after Pixelle made additional principal repayments. The negative outlook reflects the likelihood of a lower rating in the next six months if S&P believes the company will default on or restructure its outstanding debt obligations. The negative outlook reflects the likelihood of a lower rating in the next six months if S&P believes the company will default on its debt obligations or restructure its outstanding debt. S&P could lower its ratings on Pixelle if the company defaults on its financial obligations or restructures its outstanding debt. S&P could raise its ratings on Pixelle if its liquidity improves such that S&P no longer believes a near-term liquidity crisis is likely and the company addresses its 2027 and 2028 maturities. PLEASE & THANK: Case Summary & 20 Largest Unsecured Creditors ------------------------------------------------------------- Debtor: Please & Thank You, LLC d/b/a Questionable Taste 800 E. Market Street Louisville, KY 40206 Business Description: Please & Thank You is a cookie bakery and coffee shop founded in 2010 by Brooke Vaughn. The company operates locations in Louisville and Prospect, Kentucky, and Indianapolis, Indiana, offering cookies, coffee, order-ahead and delivery services, cookie shipping, wholesale products, office treats, and merchandise. It also runs a bakery production and distribution facility and supports grocery, cookie club, Airstream, and franchising programs. Chapter 11 Petition Date: June 2, 2026 Court: United States Bankruptcy Court Western District of Kentucky Case No.: 26-31515 Judge: Hon. Mary Elisabeth Naumann Debtor's Counsel: Neil C Bordy, Esq. SEILLER WATERMAN LLC Meidinger Tower - 22nd Floor 462 S. 4th Street Louisville, KY 40202 Tel: 502-584-7400 Fax: 502-583-2100 E-mail: bordy@derbycitylaw.com Total Assets: $332,461 Total Liabilities: $4,052,731 The petition was signed by Brooke Vaughn as sole member and president. A full-text copy of the petition, which includes a list of the Debtor's 20 largest unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/L5VBDRI/Please__Thank_You_LLC__kywbke-26-31515__0001.0.pdf?mcid=tGE4TAMA PLH HOMES: John Whaley Named Subchapter V Trustee ------------------------------------------------- The Acting U.S. Trustee for Region 21 appointed John Whaley of John T. Whaley, CPA, LLC as Subchapter V trustee for PLH Homes, LLC. Mr. Whaley will be paid an hourly fee of $440 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Whaley declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: John T. Whaley, CPA JOHN T. WHALEY, CPA, LLC P.O. Box 76362 Atlanta, GA 30358 Phone: 404-946-5272 Email: trustee@jtwcpa.net About PLH Homes LLC PLH Homes LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ga. Case No. 26-57236) on June 1, 2026, with $1,000,001 to $10 million in assets and liabilities. Will B. Geer, Esq. at Rountree Leitman Klein & Geer LLC represents the Debtor as legal counsel. POLELINE LENDER: Court Cuts Patrick Geile's Fees by $6,688 ---------------------------------------------------------- Chief Judge Noah G. Hillen of the U.S. Bankruptcy Court for the District of Idaho reduced the requested fee award of Patrick Geile as counsel for Poleline Lender LLC. On February 5, 2026, Patrick Geile filed an initial fee application as counsel for Poline Lender LLC. The United States Trustee objected to the Fee Application. Debtor filed a chapter 11 bankruptcy on September 8, 2025. In its petition, Debtor acknowledged this is a single asset real estate case under 11 U.S.C. Sec. 101(51B). Also on the Petition Date, Geile and his associate Jared Smith each filed separate applications to be employed as Debtor's counsel. The Court approved the employment applications on October 8, 2025. Under the employment applications, the applicable rates were $440 per hour for partners, $300 per hour for associates, and $100 per hour for legal assistants. Prior to the bankruptcy filing, Debtor paid Geile a $30,000 retainer, of which $10,237.32 was applied to pre-petition work, leaving a balance of $19,762.68 in Geile's trust account as of the Petition Date. Pursuant to the Fee Application, Geile seeks $28,486.00 in fees and reimbursement of $173.92 in expenses. No party has objected to the expense reimbursement. The UST objects to the Fee Application on four main grounds: (1) vague time entries; (2) improper lumping of time entries; (3) duplication of services; and (4) billing for unnecessary services. Under its duty to review the reasonableness of professional fees under Sec. 330, the Court has carefully reviewed Geile's time entries and will reduce the requested fee award by $6,688.00. Geile is allowed fees of $21,798.00 and expenses of $173.92. A copy of the Court's Memorandum of Decision dated June 9, 2026, is available at https://urlcurt.com/u?l=dK0ICZ from PacerMonitor.com. About Poleline Lender LLC Poleline Lender LLC is a real estate land developer engaged in land ownership with no other operations. It owns a 0.37-acre parcel along State Highway 41 in Post Falls Idaho. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Idaho Case No. 25-20295) on Sept. 8, 2025, with $500,001 to $1 million in assets and $100,001 to $500,000 in liabilities. Judge Noah G. Hillen presides over the case. Patrick John Geile, at Foley Freeman, PLLC, is the Debtor's legal counsel. PRIMROSE CANDY: Plan Exclusivity Period Extended to Aug. 17 ----------------------------------------------------------- Judge Jacqueline P. Cox of the U.S. Bankruptcy Court for the Northern District of Illinois extended Primrose Candy Co.'s exclusive periods to file a plan of reorganization and obtain acceptance thereof to Aug. 17 and Oct. 19, 2026, respectively. As shared by Troubled Company Reporter, the Debtor explains that cause for the requested extension of the Exclusive Periods includes the following: * The Bar Date for non-governmental claims just expired on April 27, 2026. The Debtor has scheduled over 120 creditors and is examining the claims now that the Bar Date has expired. Additionally, the Debtor has multiple executory contracts which are also being reviewed to determine which should be assumed or rejected. This process will necessarily extend beyond the current Plan Exclusivity Period. * The Debtor, together with its financial advisor, is analyzing all of the numerous facts that will affect the long-term cash flow projections that will support a Plan of Reorganization. These projections are not only based upon current and historical financial data but also the results of new product research and development and new customer pricing negotiations. These efforts will also necessarily extend beyond the current Plan Exclusivity Period. * An annual meeting of the Debtor's shareholders is scheduled for June 1, 2026, a date after the current Plan Exclusivity Period. Primrose Candy Co. is represented by: David K. Welch, Esq. Brian P. Welch, Esq. Burke, Warren, MacKay & Serritella, PC 330 N. Wabash Ave., Suite 2100 Chicago, IL 60611 Telephone: (312) 840-7000 Facsimile: (312) 840-7900 Email: dwelch@burkelaw.com About Primrose Candy Co. Primrose Candy Co. manufactures confectionery products, including hard and chewy candies, caramel, taffy, and popcorn-based sweets, and provides contract manufacturing, private-label, and packaging services for branded and specialty food products. Founded in 1928, it is a family-owned business operating a large production facility in Chicago, Illinois, serving customers across the United States. Primrose Candy sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 26-01430) on January 27, 2026. In its petition, the Debtor reports estimated assets of $1 million to $10 million and estimated liabilities of $10 million to $50 million. The Debtor tapped David K. Welch, Esq., at Burke, Warren, MacKay & Serritella, PC as counsel and Development Specialists, Inc. as financial advisor. QUADSTAR REALTY: Commences Chapter 11 Bankruptcy in New Jersey -------------------------------------------------------------- On June 5, 2026, Quadstar Realty LLC filed for Chapter 11 protection in the U.S. Bankruptcy Court for the District of New Jersey. According to court filings, the Debtor reports between $500 million and $1 billion in debt owed to approximately 50,001 to 100,000 creditors. Exclusive Chapter 11 Plan Filing Deadline Set for October 5, 2026. About Quadstar Realty LLC Quadstar Realty LLC is a real estate holding and investment company engaged in the ownership, management, and development of real estate assets and related property interests. Quadstar Realty LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-16567) on June 5, 2026. In its petition, the Debtor reported estimated assets of $100 million to $500 million and estimated liabilities of $500 million to $1 billion. The Debtor is represented by Michael D. Sirota, Esq. of Cole Schotz P.C. RAD DIVERSIFIED: Court OKs Philadelphia Property Sale at Auction ---------------------------------------------------------------- The U.S. Bankruptcy Court for the Middle District of Florida, Tampa Division, has granted RAD Diversified REIT, Inc. and its affiliates, along with Applicable Debtor, DDH Fund, LLC, to sell Property at auction, free and clear of liens, claims, interests, and encumbrances. The Debtor's Property is located at 1655 N. Wilton St., 1657 N. Wilton St., 4937 W. Stiles St., and 4939 W. Stiles St., Philadelphia, Pennsylvania. The Debtor is the record title owner of the Property. The Property consists of four unimproved lots in Philadelphia. The Debtor, through SoldNow, LLC dba Tranzon Driggers is authorized to sell the Property pursuant to the procedures set forth in the Motion and on the terms and conditions in the Auction Application. Notwithstanding anything to the contrary in the Motion or the Auction Application, as set forth at the Hearing, the Debtor may require a bid deposit in the form of a $2,000.00 credit card hold from potential purchasers of the Property in lieu of a cash bid deposit. All Encumbrances other than municipal liens shall attach to the proceeds of the sale of the Property with the same extent, validity, and priority as existed on the Petition Date. The Debtor shall file a report of the auction results within five business days after the date the auction of the Property is concluded and shall subsequently file a motion to approve the sale of the Property and determine disbursement of the proceeds from the auction of the Property. About RAD Diversified REIT Inc RAD Diversified REIT, Inc are a group of entities engaged in acquiring, managing, renovating, repositioning, and operating real estate, primarily single-family residential properties and vacant lots across Florida, Pennsylvania, Texas, and New Jersey, with certain affiliates holding other types of real estate. RAD Diversified OZ Fund, LP, a Delaware limited partnership, focuses on investments in Qualified Opportunity Zone properties, while RAD Diversified REIT, Inc., a Maryland corporation, is structured to qualify as a real estate investment trust under U.S. tax law. The Debtors sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Lead Case No. 26-01636) on March 1, 2026. In the petition signed by Katie S. Goodman, chief restructuring officer, the Debtor disclosed up to $100 million in both assets and liabilities. Judge Catherine Peek Mcewen oversees the case. Joseph Pack, Esq. and Jessey J. Krehl, Esq at PACK LAW, represents the Debtor as legal counsel. The Debtors tapped KAPILAMUKAMAL, LLP as forensic accountant, financial analyst and financial advisor, EPIQ CORPORATE RESTRUCTURING, LLC as noticing and claims agent, and GGG PARTNERS, LLC as operations advisor. RAD DIVERSIFIED: Court OKs Reno St Property Sale at Auction ----------------------------------------------------------- The U.S. Bankruptcy Court for the Middle District of Florida, Tampa Division, has granted RAD Diversified REIT, Inc. and its affiliates, along with Applicable Debtor, RAD Diversified OZ Fund LP, to sell Property at auction, free and clear of liens, claims, interests, and encumbrances. The Debtor's Property is located at 3961 Reno St, Philadelphia, PA 19104. The Debtor is the record title owner of the Property. The Property consists of one unimproved lots in Philadelphia. The Debtor, through SoldNow, LLC dba Tranzon Driggers, is authorized to sell the Property pursuant to the procedures set forth in the Motion and on the terms and conditions set forth in the Auction Application. Notwithstanding anything to the contrary in the Motion or the Auction Application, as set forth at the Hearing, the Debtor may require a bid deposit in the form of a $2,000.00 credit card hold from potential purchasers of the Property in lieu of a cash bid deposit. All Encumbrances other than municipal liens, if any, shall attach to the proceeds of the sale of the Property with the same extent, validity, and priority as existed on the Petition Date. The Order shall be immediately enforceable and any stay imposed by the Bankruptcy Code or Bankruptcy Rules is hereby waived. The Debtor and its professionals are authorized to take actions consistent with this Order to effectuate the sale of the Property. About RAD Diversified REIT Inc RAD Diversified REIT, Inc are a group of entities engaged in acquiring, managing, renovating, repositioning, and operating real estate, primarily single-family residential properties and vacant lots across Florida, Pennsylvania, Texas, and New Jersey, with certain affiliates holding other types of real estate. RAD Diversified OZ Fund, LP, a Delaware limited partnership, focuses on investments in Qualified Opportunity Zone properties, while RAD Diversified REIT, Inc., a Maryland corporation, is structured to qualify as a real estate investment trust under U.S. tax law. The Debtors sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Lead Case No. 26-01636) on March 1, 2026. In the petition signed by Katie S. Goodman, chief restructuring officer, the Debtor disclosed up to $100 million in both assets and liabilities. Judge Catherine Peek Mcewen oversees the case. Joseph Pack, Esq. and Jessey J. Krehl, Esq at PACK LAW, represents the Debtor as legal counsel. The Debtors tapped KAPILAMUKAMAL, LLP as forensic accountant, financial analyst and financial advisor, EPIQ CORPORATE RESTRUCTURING, LLC as noticing and claims agent, and GGG PARTNERS, LLC as operations advisor. RADNET MANAGEMENT: Moody's Cuts Rating on First Lien Loans to B1 ---------------------------------------------------------------- Moody's Ratings downgraded the ratings of RadNet Management, Inc.'s ("RadNet") senior secured first lien bank credit facilities, including the upsized senior secured first lien term loan and senior secured first lien revolving credit facility, to B1 from Ba3. There are no changes to RadNet's other ratings, including the B1 corporate family rating and B1-PD Probability of Default Rating. The outlook is stable. On June 03, 2026, RadNet announced an incremental $200 million first lien term loan issuance and repricing. Proceeds will be used for acquisitions, organic expansion initiatives and other corporate purposes. The downgrade of the ratings on the senior secured first lien bank credit facilities reflects the additional first lien debt now in the capital structure, which reduces the relative cushion provided by the company's significant unsecured trade payables and lease rejection claims. RATINGS RATIONALE RadNet's B1 CFR is constrained by its geographic concentration in 11 states with most of its facilities located in California, New York and Maryland. Leverage was approximately 4.5x at March 31, 2026 on a Moody's adjusted basis and approximately 5.0x pro forma the incremental term loan issuance. Moody's expects moderate deleveraging due to ongoing organic earnings growth and deployment of cash into acquisitions. The rating is also constrained by the company's high fixed costs, including significant capital expenditures and sizeable interest expenses after adjusting for operating lease expense. RadNet's rating is supported by its strong competitive position in its primary markets. The rating also benefits from the long-term trend of imaging volumes migrating away from hospitals to lower cost settings and diversification of revenues through the multi-modality capabilities and good payor mix. The rating is also supported by the company's very good liquidity, including a significant cash balance that Moody's expects to be used for acquisitions. The stable outlook reflects Moody's expectations that RadNet's debt to EBITDA will trend into the mid 4.0x range over the next 12-18 months. The outlook also reflects Moody's expectations that RadNet will maintain very good liquidity. Moody's expects RadNet's liquidity to remain very good (SGL-1) supported by more than $100 million of annual free cash flow over the next 12-18 months. RadNet had $455 million of cash (including cash of New Jersey Imaging Network, which is consolidated) at March 31, 2026, and Moody's expects more than $600 million pro forma the incremental term loan offering, an undrawn $282 million revolver, and an undrawn $50 million revolver at the company's New Jersey Imaging Network. RadNet's senior secured first lien revolving credit facility expires in 2029 and the senior secured first lien term loan is due in 2031. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS RadNet's ratings could be upgraded if it increases the scale and geographic diversification. Additionally, Moody's would consider an upgrade if the company's adjusted debt/EBITDA is sustained below 3.5x. Furthermore, a disciplined growth strategy and a stable reimbursement environment are needed for an upgrade. The ratings could be downgraded if the company's operating performance and/or liquidity position weaken, including due to an adverse change in reimbursement environment. Quantitatively, Moody's could downgrade the rating if debt/EBITDA is sustained above 4.5x. RadNet Management, Inc. (a wholly-owned subsidiary of publicly traded RadNet, Inc.) is a provider of freestanding, fixed-site outpatient diagnostic imaging services in the United States. The company has a network of 440 owned and/or operated outpatient imaging centers located in Arizona, California, Delaware, Florida, Idaho, Indiana, Maryland, New Jersey, New York, Texas, and Virginia. The company's services include magnetic resonance imaging (MRI), computed tomography (CT), positron emission tomography (PET), nuclear medicine, mammography, ultrasound, diagnostic radiology (X-ray), fluoroscopy and other related procedures. Annual revenues are approximately $2.1 billion. The principal methodology used in these ratings was Business and Consumer Services published in February 2026. The net effect of any adjustments applied to rating factor scores or scorecard outputs under the primary methodology(ies), if any, was not material to the ratings addressed in this announcement. RAVEN SHADOW: Paula Beran Named Subchapter V Trustee ---------------------------------------------------- The Acting U.S. Trustee for Region 4 appointed Paula Beran, Esq., at Tavenner & Beran, PLC as Subchapter V trustee for Raven Shadow LLC. Ms. Beran will be paid an hourly fee of $480 for her services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Ms. Beran declared that she is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Paula S. Beran, Esq. Tavenner & Beran, PLC 20 North 8th Street Richmond, Virginia 23219 Phone: (804) 783-8300 Email: Beran@TB-LawFirm.com About Raven Shadow LLC Raven Shadow LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Va. Case No. 26-71433) on June 1, 2026, with $500,001 to $1 million in assets and $100,001 to $500,000 in liabilities. Carolyn Anne Bedi, Esq. at Bedi Legal, P.C. represents the Debtor as legal counsel. REINFRO LLC: Gets Final Court Nod to Use Cash Collateral -------------------------------------------------------- The U.S. Bankruptcy Court for the Southern District of Texas, Brownsville Division, entered a final order authorizing Reinfro, LLC to use cash collateral. Under the final order, the Debtor is authorized to use cash collateral, including revenue generated in the ordinary course of business, in accordance with its approved budget. The Debtor projects total operational expenses of $208,900 for June; $205,900 for July; $205,900 for August; and $203,900 for September. As adequate protection, International Bank of Commerce and other creditors with valid liens on the cash collateral were granted replacement liens on all post-petition property of the Debtor including cash collateral, with the same extent and priority as their pre-petition liens. These replacement liens do not apply to Chapter 5 avoidance actions. The Debtor is required to make monthly payments of $2,000 to IBC, LEAF Capital Funding, LLC, and Regions Bank until its Chapter 11 plan is confirmed or its bankruptcy case is dismissed or converted. Beginning July 10, the Debtor must also provide IBC with an accounts receivable aging report. The final order preserves all parties' rights to seek additional adequate protection, challenge the use of cash collateral, or pursue other remedies. It also establishes a carveout for court fees, U.S. Trustee fees, Subchapter V trustee fees, trustee expenses, and approved professional fees. The Debtor's authority to use cash collateral will automatically terminate upon case dismissal or conversion, appointment of a Chapter 11 trustee, expiration of any cash collateral order, or a material breach of the approved budget and order terms. About Reinfro LLC Reinfro, LLC operates as a Tier 2 automotive metal finishing business in San Benito, Texas. Reinfro filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. S.D. Texas Case No. 26-10023) on February 18, 2026, with $1 million to $10 million in assets and liabilities. Catherine Stone Curtis serves as Subchapter V trustee for the Debtor. Judge Eduardo V. Rodriguez presides over the case. Robert C. Lane, Esq., at The Lane Law Firm PLLC, is the Debtor's bankruptcy counsel. RELIZ TECHNOLOGY: Gets Final OK to Use Cash Collateral ------------------------------------------------------ Reliz Technology Group Holdings, Inc. and affiliates received final approval from the U.S. Bankruptcy Court for the District of Delaware for authority to use cash collateral. Under the final order, the Debtors are authorized to use up to $6 million in cash collateral to support ongoing business operations, including vendor payments and administrative expenses. The Debtors' right to use cash collateral terminates at 11:59 p.m. (New York time) on August 1, unless extended by order or consent of Celsius Network Ltd., the Debtors' pre-bankruptcy secured lender; or upon entry of a court order terminating use due to noncompliance. As protection for any diminution in the value of its collateral, Celsius will receive valid, perfected replacement liens on the Debtors' assets, including pre-petition collateral and its proceeds, subject only to prior senior liens on the pre-petition collateral. The replacement liens do not apply to any Chapter 5 claims or causes of action. Celsius is also entitled to a superpriority administrative claim. The order additionally imposes extensive reporting obligations on the Debtors, including weekly disclosures regarding cash balances, cryptocurrency holdings, asset sales, intercompany transactions exceeding $100,000, and litigation involving digital assets. Separate professional fee escrows must also be maintained for estate professionals and committee professionals. The order preserves all parties' rights to challenge the validity, amount, perfection, priority, or scope of the secured party's claims and liens, while authorizing the debtors to continue using cash collateral under the approved final terms. The order is available at https://shorturl.at/93Fqa from PacerMonitor.com. About Reliz Technology Group Holdings Inc. Reliz Technology Group Holdings Inc. together with affiliates Reliz Ltd., Reliz Technologies LLC, and Reliz CI Ltd., operates the BlockFills digital-asset trading and liquidity platform, offering institutional clients spot and derivatives trading, collateralized lending, and mining solutions. Founded in 2017, the group aggregates liquidity from a global network of exchanges and market makers, integrating smart order routing, trade reconciliation, and risk management through a multi-asset technology platform with FIX API connectivity and white-label software. Headquartered in Chicago, Illinois, it also maintains offices in London, Dubai, Sao Paulo, and the Cayman Islands. Reliz and three affiliates sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Lead Case No. 26-10371) on March 15, 2026. In the petition signed by Joseph Perry, interim chief executive officer, Reliz disclosed assets of between $50 million and $100 million and liabilities of between $100 million and $500 million. Judge Thomas M Horan oversees the cases. The Debtors tapped McDermott Will & Schulte, LLP as bankruptcy counsel; Katten Muchin Rosenman, LLP as bankruptcy-co-counsel; Berkeley Research Group, LLC as financial advisor; and Verita Global, LLC as claims agent. RENTAL HUB: Gets Interim OK to Use Cash Collateral Until July 9 --------------------------------------------------------------- The Rental Hub, Inc. received another extension from the U.S. Bankruptcy Court for the Western District of Virginia, Roanoke Division, to use cash collateral. The court issued a third interim order authorizing the Debtor to use cash collateral until July 9 to fund operations in accordance with its budget. Numerous creditors assert liens on the Debtor's assets, including accounts receivable, inventory and personal property, with First Bank and Trust Company as the senior secured creditor owed approximately $21,000 and the U.S. Small Business Administration holding a $450,000 Economic Injury Disaster Loan lien. The Debtor disputes the validity of liens asserted by certain MCA lenders, such as Kapitus, and reserves the right to challenge these claims. As adequate protection, secured creditors will be granted replacement liens on post-petition collateral of the same type and priority as existed on the petition date. The order is available at https://shorturl.at/WraXm from PacerMonitor.com. The Rental Hub has experienced cash flow disruptions due to temporary closure of its Wytheville location following a landlord sale, defective equipment, and other operational interruptions, which contributed to the need for bankruptcy relief. The next hearing is set for July 9. About The Rental Hub Inc The Rental Hub, Inc. is a Virginia-based equipment rental business operating in Wytheville and Chilhowie. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Va. Case No. 26-70176) on February 23, 2026. In the petition signed by Michael L. Hubble, president and sole director, the Debtor disclosed up to $10 million in both assets and liabilities. Judge Paul M. Black oversees the case. Scot Farthing, Esq., at Farthing Legal, PC, represents the Debtor as legal counsel. REVI EXPRESS: Gets Interim OK to Use Cash Collateral ---------------------------------------------------- Revi Express Inc. received interim approval from the U.S. Bankruptcy Court for the District of Massachusetts, Central Division, to use cash collateral. Under the interim order, the Debtor is authorized to use cash collateral to fund expenses in accordance with a court-approved budget, including a $500 payment to Rockland Trust and Bank scheduled. The Debtor projects total operational expenses of $24,081.19 for June. As adequate protection for any decline in the value of their collateral, secured creditors will be granted replacement liens and security interests to the same extent, validity, and enforceability as their perfected pre-petition security interests. The order preserves the rights of all parties in interest, including creditors, trustees, and committees, to challenge the amount, validity, perfection, priority, extent, or enforceability of any liens. The Debtor is required to file a reconciled budget by July 7 comparing actual and projected income, expenses, and bank balances through June, along with projected budgets for July, August, and September 2026. The court scheduled a further hearing for July 9. About Revi Express Inc. Revi Express Inc. is a transportation and logistics company engaged in freight and delivery services. Revi Express sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-40615) on May 26, 2026, with $50,001 to $100,000 in assets and $100,001 to $500,000 in liabilities. Stephen Darr of Huron Consulting Group serves as Subchapter V trustee for the Debtor. The Debtor is represented by Louis S. Robin, Esq. of Law Offices of Louis S. Robin. RLG HOLDINGS: S&P Downgrades ICR to 'CCC', Outlook Negative ----------------------------------------------------------- S&P Global Ratings downgrades RLG Holdings LLC to 'CCC' from 'CCC+'. S&P said, "Additionally, we lowered the issue-level ratings on the company's first-lien term loans to 'CCC' from 'CCC+' and the second-lien term loan to 'CC' from 'CCC-'. The recovery ratings are unchanged at '3' and '6', respectively. "The negative outlook reflects overall economic uncertainty and soft market demand. It also reflects our expectation for negative reported cash generation and narrow liquidity. "We expect RLG Holdings LLC's reported cash flow to worsen in 2026 as the company executes its turnaround plan amid a challenging demand environment. Despite additional sources of liquidity, we believe prolonged cash flow deficits increase the company's liquidity risk and likelihood of a payment default or distressed restructuring over the next 12 months. "We expect continual negative cash flow in 2026 will likely deplete the proceeds from RLG's recent accounts receivable (AR) securitization credit facility resulting in very little liquidity." RLG ended 2025 with approximately $18.7 million of liquidity, comprising $6.2 million cash and $12.5 million available under its $85 million revolving credit facility due in July 2028. During the year, the company reported a free cash flow deficit of about $26 million, despite a meaningful reduction in capital expenditure (capex). RLG funded the shortfall, as well as payments on its first-lien term loan and finance leases, with borrowings on its revolving credit facility and cash. In the first quarter of 2026, the company entered into an AR securitization credit facility, including a $38 million term loan facility and $10 million revolving credit facility. The proceeds provided additional liquidity ahead of the company's seasonal net working capital build. However, S&P forecasts the shortfall in free cash flow and payments on its debt obligations will total about $55 million in 2026, due in part to an increase in net working capital. The company is currently contemplating several sale-leaseback transactions which would provide additional liquidity and mitigate its near-term liquidity risk. S&P forecasts credit measures will remain weak despite a modest improvement in revenue and earnings in 2026. In 2025, revenue increased 0.9% to $538 million, however, pro forma organic revenue declined 1.0% as the incremental revenue from recent acquisitions was more than offset by the loss of a key beverage customer which was acquired and subsequently changed packaging format. In addition, demand was soft across several of RLG's key markets, including health, food, and beverage and these dynamics continued into the first quarter of 2026. Earnings significantly declined in recent quarters primarily due to unfavorable mix and its fixed-cost leverage. S&P said, "We forecast slight revenue growth in 2026 on the pass-through of higher input costs and flat volume growth. We also expect earnings will improve as the company's turnaround plan continues, which includes numerous cost actions related to labor reductions, facility consolidations, and procurement improvements. As such, we believe credit measures will improve compared to 2025 but remain weak, with S&P Global Ratings-adjusted leverage close to 13.5x and EBITDA interest coverage close to 0.9x. "We believe there is a high possibility of a covenant breach. The revolving credit facility is subject to a springing first-lien net leverage of 8.8x that is tested when borrowings exceed 35% of the total commitment. As of March 31, 2026, the company-calculated first-lien net leverage was 7.85x, representing a cushion of about 10.8%. Under our base case forecast, we believe the company could violate its financial covenant in the next several quarters without a covenant waiver or amendment. "The negative outlook on RLG reflects overall economic uncertainty and soft market demand. It also reflects our expectation for negative reported cash generation and narrow liquidity. "We could lower our ratings on RLG if we believe a payment default or distressed restructuring is likely within the next six months. This could occur if volumes decline and its operating performance worsens, resulting in a larger cash flow deficit that diminishes liquidity further." S&P could revise its outlook or raise the rating on RLG if the company: -- Generates sufficient FOCF to fund its operations and debt service costs; -- Improves its earnings and debt leverage, reducing the likelihood of a covenant breach; and -- Strengthens its liquidity position such that S&P no longer believes a payment default or distressed restructuring is likely over the next 12 months. RS AIR: Court Tosses Motion in Limine in Perlman, et al., Case -------------------------------------------------------------- Judge James L. Graham of the U.S. District Court for the Southern District of Ohio denied the motions in limine filed by the parties in the case captioned as NetJets Aviation, Inc., et al., Plaintiffs, v. Stephen G. Perlman., et al., Defendants, Case No. 2:22-cv-2417 (S.D. Ohio). NetJets is a Delaware corporation with its principal place of business in Ohio. It sells fractional ownership interests in private business aircraft. In 2001, Stephen Perlman, a California resident, formed RS Air as a Delaware LLC and used it to purchase a fractional share in a NetJets aircraft. Perlman was the sole member and manager of RS Air. Over time, RS Air bought shares in two other aircraft. For each transaction, NetJets and RS Air entered into purchase and management agreements under which RS Air was entitled to a certain amount of flight time per year. NetJets provided management and support services, such as the provision of crew members, flight planning, aircraft repair, and maintenance. The relationship between NetJets and RS Air soured in July 2017 when a Cessna Citation X aircraft in which RS Air owned a share was involved in a non-injury incident at an airport in Henderson, Nevada. The aircraft was damaged and declared a total loss for insurance purposes. NetJets denied responsibility for the incident and claimed it did not affect RS Air's ability to exercise its rights and privileges because NetJets provided RS Air with access to other aircraft. Ohio Litigation NetJets sued RS Air in Ohio state court in June 2018. NetJets alleged that RS Air had breached its contractual obligations by failing to pay monthly management fees and occupied hourly fees. NetJets asserted that the failure to pay led to an event of default under which it had a contractual right to buy back RS Air's interest in each plane at fair market value minus the unpaid fees. Net Jets sought over $2.1 million in damages. RS Air filed several counterclaims, including for fraud relating to NetJets' conduct following the Citation X incident. RS Air also asserted a counterclaim for breach of contract, alleging that NetJets had failed to pay RS Air the pre-incident fair market value of its share in the Citation X. RS Air sought damages of over $1 million. Shortly before the state court case was set to go to trial, RS Air filed a Chapter 11 bankruptcy petition in the Northern District of California on November 6, 2020. NetJets filed a proof of claim, asserting that it was an unsecured creditor in the amount of $2,133,263. In support, NetJets attached its complaint in the Ohio state court action. NetJets was RS Air's largest non-insider creditor and held 98% of non-insider debt. NetJets also filed a motion to dismiss the bankruptcy proceedings on the grounds that the petition was filed in bad faith and for purposes of thwarting the Ohio state court action. The Bankruptcy Court denied NetJets' motion to dismiss. NetJets moved for an order allowing it to assert an alter ego cause of action on the debtor's behalf. NetJets argued that it had standing to bring a derivative claim against Perlman because the debtor had failed to bring a veil-piercing claim against him. The Bankruptcy Court denied this motion, holding that the proposed claim was not colorable because NetJets' allegations failed to support a finding that either: (1) RS Air and Perlman functioned as a single economic entity, or (2) there existed an overall element of injustice or unfairness. The debtor proposed a Plan of Reorganization for a Small Business, to which NetJets objected. NetJets argued that the Plan was a disguised liquidation designed to allow Perlman to evade liability owed to NetJets. The Bankruptcy Court rejected this argument and held that the Plan was fair and equitable and proposed in good faith. The Bankruptcy Court confirmed the Plan on October 17, 2021. Under the Confirmed Plan, NetJets' $2,133,263 claim was allowed and offset by $365,692, for a net allowed claim of $1,767,571.15. RS Air had no remaining assets for unsecured creditors, but Perlman agreed to contribute $100,000 in new value to be distributed to unsecured creditors, chiefly NetJets. Plaintiff NetJets Aviation, Inc. brings this diversity action against defendants Stephen G. Perlman and the Stephen G. Perlman Revocable Trust. NetJets seeks a declaratory judgment that Perlman is the alter ego of non-party RS Air LLC. RS Air owes over $1.7 million to NetJets by virtue of a judgment which NetJets obtained on an allowed claim brought in the Chapter 11 bankruptcy case of RS Air. This matter is before the Court on the parties' respective motions in limine, brought in advance of a scheduled bench trial. NetJets' Motion in Limine NetJets seeks to preclude Perlman from offering evidence or argument at trial about the merits of the claims and counterclaims asserted in the litigation between NetJets and RS Air in Ohio state court (the "Ohio litigation"). NetJets contends that the proceedings in the Bankruptcy Court conclusively resolved those claims. In particular, NetJets' bankruptcy proof of claim (which rested entirely on the Ohio complaint) was allowed by the Bankruptcy Court in the amount of $1,767,571.15, after a setoff. RS Air's counterclaims (which mirrored its Ohio counterclaims) were deemed waived by the Confirmed Plan. NetJets thus argues that RS Air's liability to NetJets cannot be relitigated or questioned in this action. Perlman agrees he cannot challenge that RS Air owed over $1.7 million to NetJets. Perlman contends, however, that some evidence concerning the Ohio litigation will be necessary to explain the historical context of the parties' relationship and the current lawsuit. Perlman argues that evidence about the sequence of events and about the basis of NetJets' alleged damages in the Ohio litigation is relevant, and the Court agrees. NetJets' alter ego theory relies on the assertion that Perlman took RS Air into bankruptcy to escape the Ohio litigation and avoid paying the contract fees allegedly owing to NetJets. Perlman's motive and intent are thus directly relevant, as is whether he retained benefits for which he did not pay. Perlman asserts, it was NetJets which used the Ohio litigation to create a "financial shockwave that necessitated" the filing of bankruptcy. NetJets allegedly did so by demanding that RS Air pay over $2 million in jet storage fees and legal fees accrued during the pendency of the Ohio litigation. Accordingly, the Court denies NetJets' motion in limine. During trial, the Court will not consider evidence offered for the purpose of bringing into doubt the rulings of the Ohio state court or the Bankruptcy Court. But the Court will consider evidence relating to the Ohio litigation which bears upon the motives and intentions of the parties. Perlman's Motion in Limine Perlman moves to preclude NetJets from offering evidence and argument about his alleged conduct in the RS Air bankruptcy proceeding. Perlman anticipates that NetJets will attempt to satisfy the "overall element of injustice or unfairness" prong of its alter ego claim by showing that he misused the bankruptcy proceedings or engaged in improper or bad faith conduct during the course of the bankruptcy case. This may include NetJets' introduction of evidence that Perlman manipulated friendly creditors to support the proposed Plan of Reorganization. Perlman argues that such a theory of liability is barred as a matter of federal bankruptcy preemption. NetJets argues that preemption is inapplicable because NetJets is not pursuing a state law claim seeking damages arising out of alleged misconduct committed during bankruptcy proceedings. Rather, NetJets contends that it is simply seeking to introduce evidence of Perlman's conduct to establish his alter ego status. The liability of RS Air has already been established, and the alter ego claim would not alter that judicial determination. The Court finds that consideration of evidence concerning Perlman's conduct in the bankruptcy proceedings would not run afoul of the bankruptcy preemption doctrine. NetJets' alter ego claim does not presuppose a violation of the Bankruptcy Code, nor does it require adjudication of the rights and duties of creditors and debtors. NetJets is not asserting a state law claim which seeks an award of damages allegedly caused by a bankruptcy litigant's abuse of process or misconduct. NetJets is not, for instance, asserting a claim for unjust enrichment or fraud arising from conduct committed in the bankruptcy proceedings. The Court finds no inherent conflict with bankruptcy law by hearing evidence of Perlman's conduct in the bankruptcy proceedings. By considering such evidence and potentially relying upon such evidence to find that Perlman was RS Air's alter ego, the Court would not be impairing the access which an entity like RS Air enjoys to seek bankruptcy protection. Nor would the protection which RS Air obtained from the Bankruptcy Court be lessened in any way. The Court would not be imposing liability on RS Air, whose liability has already been established in the bankruptcy proceedings. Furthermore, allowing the evidence would not undermine the Bankruptcy Court's rulings. It would be used to determine whether the debt established by the Bankruptcy Court can be collected from Perlman. The alter ego analysis will examine whether Perlman and RS Air operated as a single economic entity and examine the circumstances for an overall element of injustice or unfairness, which would include consideration of Perlman's prepetition conduct as well. As was stated with respect NetJets' motion in limine, evidence of the parties' motives and intentions are directly relevant to the alter ego claim. The Court believes that it can conduct the alter ego analysis without, as Perlman fears, adjudicating the propriety of Perlman's or RS Air's conduct under bankruptcy law. The Court thus finds that NetJets should be permitted to use evidence of Perlman's conduct during the bankruptcy proceedings to prove its alter ego claim. A copy of the Court's Opinion and Order dated June 5, 2026, is available at https://urlcurt.com/u?l=kRPN3m About RS Air LLC RS Air, LLC sought protection under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Cal. Case No. 20-51604) on Nov. 6, 2020, listing under $1 million in both assets and liabilities. Judge M. Elaine Hammond presided over the case. Finestone Hayes, LLP and Arch + Beam Global, LLC served as the Debtor's legal counsel and financial advisor, respectively. On October 7, 2021, the Bankruptcy Court confirmed RS Air's Chapter 11 Subchapter V plan over NetJets opposition and objection. NetJets appealed the Confirmation Order and it was affirmed by the Ninth Circuit Bankruptcy Appellate Panel. RTJ INVESTMENT: Involuntary Chapter 11 Case Summary --------------------------------------------------- Alleged Debtor: RTJ Investment Group Inc. 184 Galice Road Unit D Merlin OR 97532 Involuntary Chapter 11 Petition Date: June 2, 2026 Court: United States Bankruptcy Court District of Oregon Case No.: 26-61548 Judge: Hon. Kathryn F Evans Petitioners' Counsel: Unknown A full-text copy of the Involuntary Petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/3WYZVFI/RTJ_Investment_Group_Inc__orbke-26-61548__0001.0.pdf?mcid=tGE4TAMA Alleged creditor who signed the petition: Petitioner Nature of Claim Claim Amount Ty J Kirkpatrick $151,385 150 Merlin Road #98 Merlin Oregon 97532 S&B INVESTMENT: Involuntary Chapter 11 Case Summary --------------------------------------------------- Alleged Debtor: S&B Investment Group Inc 170 Galice Road Merlin OR 97532 Involuntary Chapter 11 Petition Date: June 2, 2026 Court: United States Bankruptcy Court District of Oregon Case No.: 26-61547 Judge: Hon. Kathryn F Evans Petitioners' Counsel: Unknown A full-text copy of the Involuntary Petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/3PDVG7A/SB_Investment_Group_Inc__orbke-26-61547__0001.0.pdf?mcid=tGE4TAMA Alleged creditor who signed the petition: Petitioner Nature of Claim Claim Amount Betty Friedrichsmeyer $187,656 150 Merlin Road #98 Merlin Oregon 97532 SAVBYN LLC: Holly Miller Named Subchapter V Trustee --------------------------------------------------- The U.S. Trustee for Regions 3 and 9 appointed Holly Miller, Esq., at Gellert Scali Busenkell & Brown, LLC as Subchapter V trustee for Savbyn LLC. Ms. Miller will be paid an hourly fee of $500 for her services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Ms. Miller declared that she is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Holly S. Miller, Esq. Gellert Scali Busenkell & Brown, LLC 1628 John F. Kennedy Boulevard, Suite 1901 Philadelphia, PA 19103 Telephone: (215) 238-0012 Facsimile: (215) 238-0016 Email: hsmiller@gsbblaw.com About Savbyn LLC Savbyn LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Pa. Case No. 26-12388) on June 1, 2026, with up to $50,000 in assets and $100,001 to $500,000 in liabilities. Judge Ashely M. Chan presides over the case. Michael D. Sayles, Esq., represents the Debtor as legal counsel. SB HAULING: Brian Anderson Named Subchapter V Trustee ----------------------------------------------------- John Paul Cournoyer, the U.S. Bankruptcy Administrator for the Middle District of Carolina, appointed Brian Anderson as Subchapter V trustee for SB Hauling & Crane Services, LLC. Mr. Anderson will be paid an hourly fee of $375 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Anderson declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Brian R. Anderson 230 N. Elm Street, Ste 1200 Greensboro, NC 27401 336-378-5205 About SB Hauling & Crane Services LLC SB Hauling & Crane Services, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D.N.C. Case No. 26-80177) on May 29, 2026. Judge Lena M. James presides over the case. Florence A. Bowens, Esq., represents the Debtor as legal counsel. SCHAFER FISHERIES: Court Extends Cash Collateral Access to June 30 ------------------------------------------------------------------ Schafer Fisheries, Inc. received a extension from the U.S. Bankruptcy Court for the Northern District of Illinois, Western Division, to use the cash collateral of Newtek Small Business Finance, LLC. The court entered an order authorizing the Debtor's interim use of cash collateral through June 30 to pay the expenses listed in its latest budget under previously established terms. As of the petition date, Newtek held a blanket lien on substantially all of the Debtor's assets, including accounts receivable constituting cash collateral. The next hearing is scheduled for June 24. The order is available at https://shorturl.at/3EDRZ from PacerMonitor.com. About Schafer Fisheries Schafer Fisheries Inc. is a seafood processor and distributor in Fulton, Ill. Schafer Fisheries filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. N.D. Ill. Case No. 24-80824) on June 20, 2024, listing between $100,001 and $500,000 in assets and between $1 million and $10 million in liabilities. Jennifer Schank of Fuhrman & Dodge, S.C. serves as Subchapter V trustee. Judge Thomas M. Lynch oversees the case. Schafer Fisheries tapped The Golding Law Offices PC and Leibowitz, Hiltz & Zanzig, LLC as bankruptcy counsel; Philip Firrek as consultant; and Wesler & Associates, CPA, PC as accountant.. Newtek Small Business Finance, LLC, as secured creditor, is represented by: Paulina Garga-Chmiel, Esq. Dykema Gossett, PLLC 10 South Wacker Drive, Suite 2300 Chicago, IL 60606 Tel: 312-876-1700 pgarga@dykema.com SCREAMING GOAT: Leon Jones Named Subchapter V Trustee ----------------------------------------------------- The Acting U.S. Trustee for Region 21 appointed Leon Jones, Esq., at Jones & Walden, LLC, as Subchapter V trustee for The Screaming Goat Group, LLC. Mr. Jones 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. Jones declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Leon S. Jones, Esq. Jones & Walden, LLC 699 Piedmont Ave. NE Atlanta, GA 30308 Phone: (404) 564-9300 ljones@joneswalden.com About The Screaming Goat Group LLC The Screaming Goat Group, LLC filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. N.D. Ga. Case No. 26-57055) on May 29, 2026, with between $1 million and $10 million in both assets and liabilities. Judge Barbara Ellis-Monro presides over the case. SHADY TREE: Wins Interim Cash Collateral Access ----------------------------------------------- The U.S. Bankruptcy Court for the Eastern District of California, Sacramento Division, granted interim approval for Shady Tree LLC to use cash collateral. Under the order, the Debtor may continue using cash collateral in accordance with the budget. The court scheduled a further hearing on the motion for June 16. The Debtor's cash collateral is subject to multiple secured creditors' liens, including lenders such as John Deere and Komatsu Financial. As adequate protection, secured creditors will be granted replacement liens on the Debtor's pre-petition and post-petition assets that are of the same type, validity, and priority as their existing liens. These replacement liens apply only to the extent any collateral value is diminished as a result of the Debtor's post-petition use of cash collateral. The replacement liens are automatically perfected without any additional filings or actions and do not extend to Chapter 5 avoidance actions. All parties retain their rights and protections under Bankruptcy Code Sections 506 and 552. About Shady Tree LLC Shady Tree LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Cal. Case No. 26-21904) on April 3, 2026. In the petition signed by Thomas Markham, managing member, the Debtor disclosed up to $10 million in both assets and liabilities. Judge Christopher D. Jaime oversees the case. Michael Jay Berger, Esq., at Law Offices of Michael Jay Berger, represents the Debtor as legal counsel. SHARING ECONOMY: Names Privatco Auditor, Replacing LAO ------------------------------------------------------ Sharing Economy International Inc. dismissed LAO Professionals as its independent registered public accounting firm and engaged Privatco CPA Limited on May 28, according to a filing with the Securities and Exchange Commission. The company said its board recommended and approved the dismissal of LAO Professionals, whose reports on Sharing Economy's 2025 and 2024 financial statements included substantial doubt about the company's ability to continue as a going concern. Sharing Economy said LAO Professionals' reports contained no adverse opinion or disclaimer of opinion and were not qualified or modified as to uncertainty, audit scope or accounting principle, except for the going concern language. The company said there were no disagreements with LAO Professionals during 2025, 2024 or the subsequent interim period through the dismissal date, and no reportable events. The company said Privatco accepted its appointment as the new independent registered public accounting firm. Sharing Economy added it had not consulted with Privatco during the two most recent fiscal years or the interim period before the engagement on accounting principles, audit opinion matters, disagreements or reportable events. About Sharing Economy Sharing Economy International Inc., headquartered in Tuen Mun, N.T., Hong Kong, develops sharing economy platforms and related rental businesses. The company developed and operated ECrent.com, an online rental classified platform that provides a marketplace for individuals and companies to view, list and search for rental products and services. In an audit report dated May 7, 2026, LAO Professionals included a going concern paragraph stating that company had an accumulated deficit and recurring losses from operations that raised substantial doubt about its ability to continue as a going concern. As of March 31, 2026, the company reported total assets of $18.16 million, total liabilities of $4.20 million and total stockholders' equity of $13.96 million. SHEPARD TOWERS: Voluntary Chapter 11 Case Summary ------------------------------------------------- Debtor: Shepard Towers LLC 775 Bloomfield Ave Clifton, NJ 07012 Business Description: Shepard Towers LLC owns and leases a residential property at 341 Shepard Street in Brooklyn, New York. Chapter 11 Petition Date: June 4, 2026 Court: United States Bankruptcy Court Eastern District of New York Case No.: 26-42752 Judge: Hon. Elizabeth S. Stong Debtor's Counsel: Charles Wertman, Esq. LAW OFFICES OF CHARLES WERTMAN, P.C. 100 Merrick Road, Suite #304W Rockville Centre, NY 11570 Tel: (516) 284-0900 Email: charles@cwertmanlaw.com Estimated Assets: $500,000 to $1 million Estimated Liabilities: $1 million to $10 million The petition was signed by Sheul Klein as manager. The Debtor did not include a list of its 20 largest unsecured creditors with the petition. A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/S4FGFKQ/Shepard_Towers_LLC__nyebke-26-42752__0002.0.pdf?mcid=tGE4TAMA SHORT PAR 4: Case Summary & 20 Largest Unsecured Creditors ---------------------------------------------------------- Debtor: Short Par 4, LLC 3165 Lakewood Ranch Rd., Suite 112 Bradenton, FL 34211 Business Description: Short Par 4, LLC is a Florida corporation founded in 2014 by Robert DiMeo and Martin Haas. Based in leased space in Bradenton, Florida, the company operates a membership- based golf subscription service that provides services including curated monthly deliveries of golf lifestyle apparel and related products to customers nationwide. Under its model, clothing and accessories from established brands are selected based on individual member preferences, and members receive mailed boxes containing the selected items. Members may also purchase additional brand-name gear through an exclusive online store. The company also develops in-house golf apparel brands. Chapter 11 Petition Date: June 2, 2026 Court: United States Bankruptcy Court Middle District of Florida Case No.: 26-04747 Judge: Hon. Caryl E Delano Debtor's Counsel: Matthew B. Hale, Esq. STICHTER, RIEDEL, BLAIN & POSTLER, P.A. 110 E. Madison St., Suite 200 Tampa, FL 33602 Tel: (813) 229-0144 E-mail: mhale@srbp.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Robert Dimeo as manager. A copy of the Debtor's list of its 20 largest unsecured creditors is available for free on PacerMonitor at: https://www.pacermonitor.com/view/KR23HHI/Short_Par_4_LLC__flmbke-26-04747__0002.0.pdf?mcid=tGE4TAMA A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/KWD7UIY/Short_Par_4_LLC__flmbke-26-04747__0001.0.pdf?mcid=tGE4TAMA SIFI NETWORKS: Case Summary & 25 Largest Unsecured Creditors ------------------------------------------------------------ Debtor: SiFi Networks America, LLC 103 Foulk Road Suite 500 Wilmington Delaware 19803 Business Description: SiFi Networks America LLC is a Wilmington, Delaware-based telecommunications infrastructure project management and deployment services provider. The company supports fiber-to-the-premises network projects through deployment planning, permitting coordination, vendor and subcontractor management, construction management, program management, delivery coordination, stakeholder reporting, and compliance support. It serves municipal and local government fiber network initiatives and provides project management services for citywide open-access networks in California and the Midwest region of the United States. The company is a wholly owned U.S.-based subsidiary of SiFi Networks America Ltd. Chapter 11 Petition Date: June 5, 2026 Court: United States Bankruptcy Court District of Delaware Case No.: 26-10912 Judge: Hon. Brendan Linehan Shannon Debtor's Restructuring & Bankruptcy Counsel: Patrick J. Reilley, Esq. COLE SCHOTZ P.C. 500 Delaware, Suite 600 Wilmington Delaware 19801 Tel: (302) 652-3131 E-mail: preilley@coleschotz.com Debtor's Financial Restructuring Advisor: KCP ADVISOR GROUP LLC Debtor's Sales Agent: SHERWOOD PARTNERS INC. Debtor's Notice, Claims, Solicitation, Balloting & Administrative Agent: STRETTO, INC. Estimated Assets: $1 million to $10 million Estimated Liabilities: $10 million to $50 million The petition was signed by Jacen Dinoff as chief restructuring officer. A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/CA2FF6Y/SiFi_Networks_America_LLC__debke-26-10912__0001.0.pdf?mcid=tGE4TAMA List of Debtor's 25 Largest Unsecured Creditors: Entity Nature of Claim Claim Amount 1. Specialist Network Operations LTD Trade Debt $242,895 Hollis House Maesbury Road Oswestry, Shropshire SY10 8NR United Kingdom Paula Jones Email: Paula.jones@sno.cloud 2. Innovative Driven Trade Debt $214,314 PO Box 780154 Philadelphia, PA 19178-0154 Kirsten Thompson Email: Kirsten.Thompson@innovativedriven.com Phone: (302) 888-2060 3. Crown Castle - Now Zayo Trade Debt $166,937 PO Box 27135 New York, NY 10087-7135 Email: fiberbillinghd@crowncastle.com Phone: (855) 91-34237) 4. First Light Trade Debt $151,381 41 State St. Ste. 10 Albany, NY 12207 Email: billing@firstlight.net 5. First Legal Discovery Trade Debt $124,737 PO Box 745087 Los Angeles, CA 90074-5087 Juliette Ely Email: juliette@firstlegal.com Phone: 213 250 1111 Ext 5563 6. Glaser Weil Professional $80,515 10250 Constellation Blvd. Services 19th Fl. Los Angeles, CA 90067 Cora Cantanes Email: ccatanes@glaserweil.com Phone: 310 553 3000 7. Preisely Software NC Trade Debt $74,730 1700 District Ave., Ste. 300 Burlington, MA 01803 Sahil Arora Email: Sahil.Arora1@precisely.com 8. Windstream KDL IN Trade Debt $62,314 4001 N Rodney Parham Little Rock, AR 72212 Email: wci.carrier.assurance@windstream.com Phone: 1-855-465-0204 9. Coresite LP Trade Debt $46,971 Coresite Real Estate 427 S La Salle Denver, CO 80202 Erina Connolly Email: Erina.Connolly@CoreSite.com Phone: 303-405-1009 10. Zayo 039440 Trade Debt $30,742 1821 30Th St. - Unit A Boulder, CO 80301 Email: arexperts@zayo.com Phone: 866.364.6033 (Opt 3) 11. Local Linx Ma Inc Trade Debt $22,800 PO Box 470843 Broadview Heights, OH 44147 Email: Finance@LocalLinx.com Phone: 413-223-6019 12. 123.Net Inc Trade Debt $19,470 24700 Northwestern Hwy, Ste. 700 Southfield, MI 48075 Email: ebilling@123.net Phone: (866) 460-3503, option #1 13. Troncoso Koos Enterprises Trade Debt $16,987 1509 Allyson Court Brea, CA 92821 John Koos Email: john@troncosokoos.com Phone: 714 614-8404 14. Zayo 041316 Trade Debt $13,278 1821 30Th St. - Unit A Boulder, CO 80301 Marie Alexander Email: Marie.Alexander@zayo.com 15. Connectix LTD Trade Debt $13,161 500 Ave. West Skyline, A120 Braintree, Essex CM77 7AA United Kingdom Klaudia Collins Email: klaudia.collins@connectix.co.uk Phone: +44 1376 333512 16. CSC Trade Debt $4,268 251 Little Falls Drive Wilmington, DE 19808-1674 Email: invoiceinquiry@cscglobal.com Phone: (617)-523-6380 17. Seyfarth Shaw (UK) LLP Professional $4,094 Citypoint One Ropemaker St. Services London, EC2Y 9AW United Kingdom Nicholas Wood Email: nwood@seyfarth.com Phone: Direct: +1-310-201-9268 18. Markley Lowell LLC Trade Debt $3,993 1 Summer St. 5th Fl. Lowell Data Center Boston, MA 02110 Email: ar@markleygroup.com 19. Ibridge Cloud Technoligies Inc Trade Debt $3,029 2851 Gold Tailings Court, Ste. B Rancho Cordova, CA 95670 Allen McKibben Email: amckibben@ibridgecloud.com Phone: 916-531-0461 20. Center Square Trade Debt $2,334 3100 Olympus Blvd, Ste. 510 Coppell, TX 75019 Sarah Greene Email: Sarah.greene@centersquared.com Phone: 469-687-9565 21. Berkshire Hathway Litigation $0 c/o SMTD Law LLP 17901 Von Karman Avenue Irvine, CA 92614 Ali Salamirad Phone: 949-537-3800 Email: as@smtdlaw.com 22. Cablevision Lightpath Litigation $0 c/o AG Commercial Law, LLC 5 West Market Street Georgetown, DE 19941 Andrew A. Whitehead Phone: 302-248-2000 Email: andrew@whiteheadlawde.com 23. Generate Saratoga Springs Litigation $0 Fiber Member, LLC c/o Slarskey LLC 767 Third Avenue, 14th Floor New York, NY 10017 Renee Bea, Richard Weingarten, Keith Dore, & Elena Roberts Email: rbea@slarskey.com kdore@slarskey.com rweingarten@slarskey.com eroberts@slarskey.com 24. Generate East Hartford Fiber Litigation $0 Member, LLC c/o Slarskey LLC 767 Third Avenue, 14th Floor New York, NY 10017 Renee Bea, Richard Weingarten, Keith Dore, & Elena Roberts Email: rbea@slarskey.com kdore@slarskey.com rweingarten@slarskey.com eroberts@slarskey.com 25. Peter Neda Litigation $0 c/o Grellas Shah LLP 20400 Stevens Creek Blvd Cupertino, CA 95014 Dhaivat H. Shah, David I. Siegel, & Seth K. Kugler Phone: 408-255-6310 Email: ds@grellas.com dsiegel@grellas.com skugler@grellas.com SIMPLY INTERIOR: Seeks Chapter 11 Bankruptcy w/ Over $100MM Debt ---------------------------------------------------------------- Alex Wittenberg of Law360 Bankruptcy Authority reports that Simply Interior Homes, a supplier of home décor, bedding, and textile products, filed for Chapter 11 bankruptcy protection in Delaware with liabilities exceeding $100 million. The filing includes a proposed strategy to market and sell substantially all company assets through a court-approved process designed to generate value for creditors and stakeholders. The company said it has experienced significant financial challenges amid softness in consumer demand for home-related products and increased costs throughout its supply chain. Those pressures, combined with debt obligations and liquidity concerns, ultimately led management to pursue a restructuring under Chapter 11. By seeking bankruptcy protection, Simply Interior Homes aims to stabilize operations while conducting an orderly sale process. Company officials said they expect the transaction to preserve the value of the business and provide the best opportunity for a successful outcome compared with alternative restructuring options, the report relays. About Simply Interior Homes Simply Interior Homes, a manufacturer and distributor of home textiles, bedding, and décor products. Simply Interior Homes sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 26-10922) on June 8, 2026. In its petition, the Debtor reports estimated assets and liabilities between $100 million and $500 million each. The Debtor is represented by Sheridan Hill, II, Esq., James R. Risener, III, Esq., L. Katherine Good, Brett Michael Haywood, Sameen Rizvi, and Halley Dannemiller, Esq, of Potter Anderson SIMPLY INTERIOR: Seeks to Sell Home Decor Business at Auction ------------------------------------------------------------- Simply Interior Homes, LLC and its affiliates seek approval from the U.S. Bankruptcy Court for the District of Delaware, to sell substantially all Assets, free and clear of liens, claims, interests, and encumbrances. The Debtors operate a home textiles and home decor business that designs, sources and supplies fashion bedding, window treatments, bath products, decorative textiles, and related home furnishings (referred to as "soft goods") for major retailers. The Debtors were formed in early 2025 in connection with the carve-out of the soft goods business divisions from Keeco, LLC, a portfolio company of Centre Lane Partners, and related affiliates. Prior to the Carve-Out Transaction, Keeco was one of North America's largest home textile suppliers. Following the Carve-Out Transaction, Keeco was rebranded as "Live Comfortably." The Debtors have commenced the Chapter 11 Cases to stabilize their operations, preserve going-concern value, maximize the value of their estates for the benefit of all stakeholders, and pursue a value-maximizing transaction through the chapter 11 process. The Debtor retains Rock Creek Advisors to serve as the sales agent to the Debtors and to run a comprehensive sale and market process designed to maximize the value of the Debtor's assets on a going concern basis. The Debtor seeks Court's approval of Bidding Procedures to which the Debtors will seek bids for all or a subset of their assets, and the ability to designate a Stalking Horse to set a floor at Auction. The Debtors do not have the liquidity to support a protracted sale process which, in any event, would threaten key relationships and close the door to any future for the Debtors The Debtors believe that the proposed timeline maximizes value to the estates both by providing for a robust sale process and minimizing value-destructive business disruption from a prolonged stay in chapter 11. https://urlcurt.com/u?l=jufc9T The Debtors assert that the Court's approval of Bidding Procedures will generate interest in the Assets and increase the likelihood that the Debtors receive one or more Qualified Bids for their Assets. The Debtors propose to designate a Stalking Horse Bidder and enter into a Stalking Horse Agreement no later than July 1, 2026, at 4:00 p.m. (prevailing Eastern Time), which deadline may be extended by the Debtors. The Auction of the Assets no later than July 30, 2026, at 10:00 a.m. (prevailing Eastern Time) and the Sale Hearing to consider approval of the proposed Sale no later than August 6, 2026, subject to the availability of the Court. The Debtors believe that any Sale governed by the Bidding Procedures will yield a fair and reasonable price for the Assets. The Bidding Procedures were designed to facilitate a competitive bidding process. The Debtors submit that any Successful Bidder will be a "good faith purchaser." About Simply Interior Homes, LLC Simply Interior Homes, LLC operates a home textiles and home decor business that designs, sources and supplies fashion bedding, window treatments, bath products, decorative textiles, and related home furnishings for major retailers. The Debtors were formed in early 2025 in connection with the carve-out of the soft goods business divisions from Keeco, LLC, a portfolio company of Centre Lane Partners, and related affiliates. Simply Interior Homes sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr.D.Dela Case No:1:26-bk-10922) on June 8, 2026. Sheridan Hill, II, James R. Risener, III, L. Katherine Good, Brett Michael Haywood, Sameen Rizvi, Halley Dannemiller, at Potter Anderson & Corroon, represent the Debtors as legal counsel. SINTX TECHNOLOGIES: To Raise About $4.5M in Private Placement ------------------------------------------------------------- SINTX Technologies Inc. agreed to sell 1,882,845 units in a private placement for about $4.50 million in gross proceeds, part of about $5.00 million of equity capital raised in recent weeks, according to a filing with the Securities and Exchange Commission. The company said each unit consists of one common share, one Class A common stock purchase warrant and one Class B common stock purchase warrant. The units were sold at $2.39 each to accredited investors. The Class A and Class B warrants each cover 1,882,845 common shares and are exercisable at $2.14 a share. The Class A warrants expire on the fifth anniversary of issuance, while the Class B warrants expire on the second anniversary of the initial exercise date. SINTX said it also completed a $500,000 purchase of common stock through its at-the-market offering program. The company intends to use net proceeds from the private placement for general corporate purposes, including working capital, commercialization activities, business development initiatives and other strategic opportunities. The company agreed to file a resale registration statement covering the common shares sold in the offering and shares issuable upon warrant exercise no later than 30 calendar days after closing. It said it would use best efforts to have the registration statement declared effective within 60 calendar days after closing, or 90 calendar days if the SEC reviews it. About SINTX Technologies SINTX Technologies Inc., headquartered in Salt Lake City, Utah, develops, manufactures and commercializes silicon nitride biomaterials, composites, devices and related technologies for medical and other high-value applications. The company provides biomedical solutions for medical devices and also makes silicon nitride parts for electrical, aerospace and other industrial customers. In an audit report dated March 20, 2026, Tanner LLP included a going concern paragraph stating that recurring losses from operations, negative operating cash flows and the need to obtain additional financing raised substantial doubt about the company's ability to continue as a going concern. As of March 31, 2026, the company reported total assets of $7.81 million, total liabilities of $6.91 million and total stockholders' equity of $904,000. STEPADDY1959 LLC: Andrew Layden Named Subchapter V Trustee ---------------------------------------------------------- The Acting U.S. Trustee for Region 21 appointed Andrew Layden as Subchapter V trustee for Stepaddy1959, LLC. Mr. Layden 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. Layden declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Andrew Layden 200 S. Orange Avenue, Suite 2300 Orlando, FL 32801 Telephone: 407-649-4000 Email: alayden@bakerlaw.com About Stepaddy1959 LLC Stepaddy1959, LLC, sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 26-04009) on May 29, 2026, with $0 to $50,000 in assets and $100,001 to $500,000 in liabilities. Judge Lori V. Vaughan presides over the case. Jeffrey Ainsworth, Esq. at Bransonlaw PLLC represents the Debtor as legal counsel. SUMMIT ACCESS: Seeks to Extend Plan Exclusivity to Sept. 30 ----------------------------------------------------------- Summit Access, LLC asked the U.S. Bankruptcy Court for the Northern District of Georgia to extend its exclusivity periods to file a plan of reorganization and obtain acceptance thereof to Sept. 30 and Dec. 1, 2026, respectively. The Debtor states that it seeks an extension to the Exclusivity Periods to preclude the costly disruption and instability that would occur if competing plans were proposed. The Debtor explains that the request for an extension will not unfairly prejudice or pressure the company's creditor constituencies or grant the Debtor any unfair bargaining leverage. The Debtor needs creditor support to confirm any plan, so the Debtor is in no position to impose or pressure its creditors to accept unwelcome plan terms. In addition, the Debtor seeks an extension of the Exclusivity Periods to advance the case and continue good faith negotiations with its stakeholders. The Debtor asserts that premature termination of the Exclusivity Periods may engender duplicative expense and litigation associated with multiple competing plans. Any litigation with respect to competing plans and resulting administrative expenses will only decrease recoveries to the Debtor's creditors and significantly delay, if not undermine entirely, the possibility of prompt confirmation of a plan of reorganization. The Debtor further asserts that given the consequences for its estate if the relief requested herein is not granted and the progress made to date, the requested extension of the Exclusivity Periods will not prejudice the legitimate interests of any party in interest in this case. Rather, the extension will further the Debtor's efforts to preserve value and avoid unnecessary and wasteful litigation. Summit Access LLC is represented by: Will B. Geer, Esq. Caitlyn Powers, Esq. Rountree Leitman Klein & Geer, LLC 2987 Clairmont Road, Suite 350 Atlanta, GA 30329 Telephone: (404) 584-1238 Email: wgeer@rlkglaw.com About Summit Access LLC Summit Access, LLC owns the apartment property at 2510-2540 Peachtree Circle, NE, Atlanta, with 19 of 28 units currently occupied and all units move-in ready. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ga. Case No. 26-51439) on February 2, 2026. In the petition signed by Romaia Karlsen, sole member, the Debtor disclosed up to $10 million in both assets and liabilities. Will Geer, Esq., at Rountree, Leitman, Klein & Geer, LLC, represents the Debtor as legal counsel. SUNPOWER CORP: Kosydar Loses Bid to Interpret Confirmation Order ---------------------------------------------------------------- Judge Craig T. Goldblatt of the U.S. Bankruptcy Court for the District of Delaware dismissed Christine Kosydar's motion to interpret and enforce the plan and confirmation order in the bankruptcy case of SunPower Corp. for lack of subject-matter jurisdiction. Kosydar leased a solar power system from SunPower Capital. She contends that the parties entered into the lease in November 2017 and the solar power system was thereafter installed at her home in Arizona. Kosydar argues that SunPower Capital remained the counterparty to the lease up and through the filing of these bankruptcy cases in August 2024. In these bankruptcy cases, the debtors sold substantially all of their assets in a series of asset sales. No one contends, however, that Kosydar's lease was, during the bankruptcy case, the subject of a motion to assume and assign it to the buyer (or anyone else). And the plan in these cases, confirmed in October 2024, and that became effective in November 2024, primarily distributed the proceeds of the sales to creditors. The plan provided that all executory contracts that remained in the estate and were not otherwise assumed under the plan are rejected. So on Kosydar's view of the world, the debtors have rejected her lease. The debtors' rejection of a lease, of course, excuses the counterparty from its future performance obligations. That would presumably mean, assuming that Kosydar's lease of the solar power system is a true lease, that unless the SunPower plan administrator wanted to come to Arizona to remove Kosydar's solar power system, the result of the bankruptcy would be that she has obtained the solar power system without being required to make further lease payments. The plan administrator of the SunPower estate takes a different view. SunPower's position in the bankruptcy case was that its regular practice in the ordinary course of business before the bankruptcy filing was to assign system leases to a separate entity. These separate entities were essentially used as financing vehicles. These entities accordingly borrowed against those leases as a way of raising capital for the enterprise. On the plan administrator's theory (which accords with the telling of events in the debtors' first-day declaration), the assignee of the leases was not itself a debtor in these bankruptcy cases. Instead, it was a non-debtor subsidiary of the debtors. The plan administrator's position is that the debtors' equity interest in that non-debtor subsidiary was sold to the buyer. As a result, the plan administrator's position is that the buyer now holds the leases, albeit indirectly through its ownership of the non-debtor subsidiary. Kosydar filed a motion to "interpret and enforce" the plan and confirmation order. She sought an order declaring that her lease "was solely the property of the Debtor on the Effective Date of the Plan in this case," that "no other entity was the lessor of the Lease as of the Effective Date of the Plan," and that the "Lease was rejected by Art. V of the Plan as of the Effective Date." She also seeks an express finding that the order is "binding and effective upon all parties-in-interest in this case," which would of course include the entities affiliated with the buyer who, on the plan administrator's version of events, would be the counterparty to Kosydar's lease. The plan administrator filed what it described as a "limited objection" to that motion. Kosydar contends that the Court does have subject-matter jurisdiction over her motion. She argues that there is jurisdiction over her action because it is an action that seeks to enforce the plan. Kosydar argues in the alternative that the matter falls within the related-to jurisdiction. The argument is that the "related to" jurisdiction, on a post-confirmation basis, includes matters that have a "close nexus" to the plan. She asserts that motion is one to enforce the plan, thus it would fit within the "related to" jurisdiction. She argues that this matter has such a close nexus because it is a dispute over the meaning of the plan. Judge Goldblatt holds, "This dispute -- where the only parties with an economic stake are non-debtors and in which no party is asking this Court to clarify or enforce any provision of the plan or confirmation order -- falls outside the scope of the Court's subject-matter jurisdiction. Kosydar's motion will accordingly be dismissed on that basis. A copy of the Court's Amended Memorandum and Opinion dated June 4, 2026, is available at http://urlcurt.com/u?l=7T41z3from PacerMonitor.com. About SunPower Corp. Headquartered in Richmond, California, SunPower (NASDAQ: SPWR) -- https://www.sunpower.com/ -- is a residential solar, storage, and energy services provider in North America. SunPower offers solar + storage solutions that give customers control over electricity consumption and resiliency during power outages while providing cost savings to homeowners. SunPower Corporation and nine of its affiliates sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del., Lead Case No. 24-11649) on August 5, 2024. In the petition signed by Matthew Henry as chief transformation officer, the Debtors disclosed total assets of $1,219,276,283 and total debts of $1,119,141,312 as of December 31, 2023. The Debtors have engaged Richards, Layton & Finger, P.A. and Kirkland & Ellis LP as bankruptcy counsel. Alvarez & Marsal NorthAmerica, LLC serves as financial advisor to the Debtors. Moelis & Company LLC acts as investment banker to the Debtors, and Epiq Systems Inc. acts as notice and claims agent. TEHUM CARE: Court Lifts Bankruptcy Stay in Bouton, et al. Case -------------------------------------------------------------- Judge Shirley Padmore Mensah of the U.S. District Court for the Eastern District of Missouri granted Steve Bouton, et al.'s motion lift bankruptcy stay in the case captioned as STEVE BOUTON, et al., Plaintiffs, v. STATE OF MISSOURI, et al., Defendants, Case No. 2:22-CV-00010-SP (D. Mo.). This matter arises from a July 9, 2019, incident in which Plaintiffs' son, Austin Bouton, died by suicide while in the custody of the Missouri Department of Corrections ("MDOC") at the Northeast Correctional Center ("NECC"). In the Amended Complaint, Plaintiffs bring a total of thirteen claims against nine defendants. The defendants fall into three categories: (1) the "State Defendants" (the State of Missouri, acting through MDOC; Anne Precythe, Director of MDOC; Alan Earls, Deputy Director of MDOC; Chantay Godert, warden of NECC; Dan Wiley, NECC correctional officer; and Keesila Ford, NECC correctional officer); (2) "Corizon" (Corizon, LLC, d/b/a/ Corizon Health, a healthcare provider that provides healthcare services at NECC); and (3) the "Former Corizon Employees" (Cherilyn DeSouza, M.D., and Mary Summerville). On February 13, 2023, Tehum Care Services, Inc., formerly known as Corizon Health, Inc., and Corizon, LLC, filed a bankruptcy petition in the U.S. Bankruptcy Court for the Southern District of Texas, triggering an automatic stay of the claims against Corizon pursuant to 11 U.S.C. Sec. 362(a). On May 16, 2023, pursuant to its inherent powers and with the agreement of all parties, this Court granted Plaintiffs' motion to stay the claims against the State Defendants and the Former Corizon Employees for 90 days. Since that date, the Court has held periodic status conferences and has repeatedly extended this stay by agreement of all parties, with the understanding that Plaintiffs' claims against both Corizon and the Former Corizon Employees were likely to be addressed as part of a settlement in the Corizon bankruptcy proceedings. On March 3, 2025, the Bankruptcy Court entered an "Order Confirming the First Modified Joint Chapter 11 Plan of Reorganization of the Tort Claimants' Committee, Official Committee of Unsecured Creditors, and Debtor" (the "Confirmation Order"). The "First Modified Joint Chapter 11 Plan of the Tort Claimants' Committee, Official Committee of Unsecured Creditors, and Debtor" (the "Plan") was incorporated into and attached to the Confirmation Order. The Effective Date of the Plan was March 31, 2025. The Plan provided for a settlement and release of claims against certain Released Parties (defined to include Corizon, its former employees, and several other entities and individuals) in exchange for a series of payments from certain entities (the "Settlement Parties"), to become effective on the date of the final payment. The Plan also provided for a "Channeling Injunction," under which "all Persons that have held or asserted, currently hold or assert, or that may in the future hold or assert, any Channeled Claim shall be stayed, restrained, and enjoined from taking any action for the purpose of directly, indirectly, or derivatively collecting, recovering, or receiving payment, satisfaction, or recovery from any Released Party with respect to any such Channeled Claim, other than from the Trusts." The Channeling Injunction was in effect as of the Effective Date. The Confirmation Order and the Plan further provided that the running of the statutes of limitations as to any Channeled Claim was tolled and extended and that in the event of the termination of the injunction, beneficiaries would "have ninety (90) days from the date of termination to commence Causes of Action against the Released Parties." The parties appear to agree that Plaintiffs' claims against Corizon and the Former Corizon Employees in the instant action are Channeled Claims that were subject to this Channeling Injunction. In February of 2026, the Settlement Parties failed to make a required installment settlement payment and failed to cure the default. On May 12, 2026, Plaintiffs filed the instant motions, asking the Court (1) to lift the stay in this matter, and (2) for leave to file a Second Amended Complaint re-asserting the claims against the State Defendants, Corizon, and the Former Corizon Employees in the First Amended Complaint and adding additional claims against sixteen new defendant. Plaintiffs argue that following the uncured default, the bankruptcy stay (specifically the Channeling Injunction and all related Plan injunctions, stays, and releases) has been lifted automatically pursuant to the express terms of the confirmed Plan and should be so recognized. As to the claims against the State Defendants and the Former Corizon employees, there is no dispute that the stay should be lifted. Upon review of the Confirmation Order and Plan, the Court agrees that any stay or injunction of the claims against the Corizon employees that was in place under the Plan has terminated, and the Court is unaware of any other authority that would require continuing the stay of these claims. Additionally, in light of the parties' agreement that the stay should be lifted, the Court no longer believes a stay of the claims against the State Defendants or the Former Corizon Employees is warranted under its own inherent power to stay. For these reasons, the reasons stated in Plaintiffs' motion, and the reasons stated on the record at the hearing, the Court will grant the motion to lift the stay as to the State Defendants and the Former Corizon Employees. Whether to lift the stay of the claims against Corizon itself, on the other hand, does appear to be in dispute. The initial stay of the claims against Corizon was not put in place by this Court, nor was it put in place by the Confirmation Order or the Plan. Instead, it arose automatically pursuant to 11 U.S.C. Sec. 362(a). No party has informed the Court of the current status of the automatic stay that was imposed by Sec. 362(a). The Confirmation Order and the Plan both indicate that the automatic stay remained in full force and effect until the Effective Date of the Plan (March 31, 2025). Thus, it appears that the automatic stay imposed by § 362(a) was effective only until March 31, 2025. As the parties appear to agree, as of March 31, 2025, another stay was put into place by the Plan: under the Channeling Injunction, "all Persons that have held or asserted, currently hold or assert, or that may in the future hold or assert, any Channeled Claim shall be stayed, restrained, and enjoined from taking any action for the purpose of directly, indirectly, or derivatively collecting, recovering, or receiving payment, satisfaction, or recovery from any Released Party with respect to any such Channeled Claim, other than from the Trusts." However, the Confirmation Order and Plan provide that in the event of an uncured settlement default, "all Plan injunctions, stays, or released provided in favor of the Released Parties that are in effect under the Plan shall be deemed terminated and void," and that holders of Channeled Claims will "have ninety (90) days from the date of termination to commence Causes of Action against the Released Parties." In this case, it is undisputed that there was an uncured settlement default and that Corizon is included in the definition of Released Parties. Thus, the Court agrees with Plaintiffs that under the plain terms of these provisions, the uncured default terminated any stay that was in place in favor of Corizon under the Channeling Injunction or the Plan. Corizon's position appears to be that there is a third type of stay in place pursuant to the Bankruptcy Code. Corizon argues that its inclusion in the definition of Released Parties under the Plan does not invalidate or override the discharge that was granted to Corizon pursuant to these provisions when the Plan was confirmed. Plaintiffs, on the other hand, argue that the discharge injunction is a creature of the Plan and Confirmation Order, which itself provided that the stay in favor of the Released Parties was terminated in the event of an uncured default. The Court is convinced that there is currently no stay in place as to the claims against Corizon. Judge Mensah explains, "Here, although neither the Confirmation Order nor the Plan explicitly states that the Confirmation Order did not 'discharge' Corizon, the Plan provides for a discharge of the Released Parties (which include Corizon) that does not occur until the final settlement payment is received. This indicates that the Confirmation Order alone did not fully discharge Corizon; such discharge was conditioned on a final payment that never occurred. Additionally, the Confirmation Order expressly permits Channeled Claims to go forward against the Released Parties (which include Corizon) in the event of a default, again indicating that the Confirmation Order did not immediately result in a discharge of such claims against Corizon. The Court thus finds that the Plan provides that Corizon's liabilities have not been fully discharged and that there is currently no stay in place under Sec. 524(a)." For these reasons, the Court finds there is currently no stay in place as to the claims against Corizon, the Former Corizon Employees, or the State Defendants. Additionally, the Court has considered that if it does not promptly lift the stay and permit Plaintiffs to pursue their claims at this time, Plaintiffs will be prejudiced because it appears that the statute of limitations on Plaintiffs' claims has been tolled only until June 3, 2026 -- 90 days after the Plan stay terminated. Accordingly, the Court will grant the motion to lift the stay in this matter. A copy of the Court's Memorandum and Order dated June 2, 2026, is available at http://urlcurt.com/u?l=IxpXGdfrom PacerMonitor.com. About Tehum Care Services Tehum Care Services Inc., doing business as Corizon Health Services Inc., is a privately held prison healthcare contractor in the United States. It is based in Brentwood, Tenn. Tehum Care Services filed a petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Tex. Case No. 23-90086) on Feb. 13, 2023. In the petition filed by Russell A. Perry, as chief restructuring officer, the Debtor reported assets between $1 million and $10 million and liabilities between $10 million and $50 million. Judge Christopher M. Lopez oversees the case. The Debtor tapped Gray Reed & McGraw, LLP as bankruptcy counsel; Bradley Arant Boult Cummings, LLP, as special litigation counsel; and Ankura Consulting Group, LLC, as financial advisor. Russell A. Perry, senior managing director at Ankura, serves as the Debtor's chief restructuring officer. Kurtzman Carson Consultants, LLC, is the claims, noticing and solicitation agent. The U.S. Trustee for Region 7 appointed an official committee to represent unsecured creditors in the Debtor's Chapter 11 case. Stinson, LLP and Dundon Advisers, LLC, serve as the committee's legal counsel and financial advisor, respectively. TENET HEALTHCARE: Moody's Ups CFR to Ba2 & Alters Outlook to Stable ------------------------------------------------------------------- Moody's Ratings upgraded Tenet Healthcare Corporation's (Tenet) Corporate Family Rating to Ba2 from Ba3 and Probability of Default Rating to Ba2-PD from Ba3-PD. Moody's also upgraded Tenet's senior secured first lien notes to Ba2 from Ba3 and senior unsecured notes to B1 from B2 respectively. At the same time, Moody's changed the outlook to stable from positive. There is no change to the company's SGL-1 Speculative Grade Liquidity rating. The ratings upgrade reflects Tenet's sustained deleveraging driven by a combination of strong EBITDA growth and substantial debt paydown in the last 24 months. Moody's expects that the company will continue to grow its revenue and EBITDA primarily through the expansion of the ambulatory care business. The upgrade also reflects Moody's expectations that the company will use disciplined financial policies to manage share buybacks/distributions commensurate with its free cash flow and will maintain debt/EBITDA in the 3.5x -4.5x range. RATINGS RATIONALE Tenet's Ba2 CFR reflects the company's significant scale, good business diversity, moderately high financial leverage and very good liquidity. In addition to acute care hospitals, the company has a sizeable portfolio of ambulatory surgery centers (ASCs) and a revenue cycle management business which add business diversity. Tempering these strengths, Tenet's Ba2 CFR is constrained by some geographic concentration in the states of Texas, Michigan, Arizona, and California as well as heavy reliance on a small group of managed care payors. The company's shareholder-friendly policies are also constraining factors. In January 2026, Tenet and CommonSpirit Health (A3 Stable) agreed to an early conclusion of their contractual relationship involving revenue cycle management (RCM) services provided by a Tenet subsidiary to CommonSpirit Health. Tenet expects to compensate for the lost business from CommonSpirit Health by expanding its revenue cycle management services with other customers, including new ones. Execution risk associated with this material change is also an analytical consideration. The stable outlook reflects Moody's views that Tenet will continue to operate with significant scale and diversity while maintaining moderately high financial leverage. Moody's expects Tenet to maintain very good liquidity (SGL-1) over the next 12-18 months. The company's liquidity is supported by Moody's expectations of more than $1.5 billion in annual free cash flow (after distributions to non-controlling interests). The company had over $2.9 billion in cash and $1.9 billion ABL revolver fully almost entirely available (except TFH FITNESS: Case Summary & 20 Largest Unsecured Creditors ---------------------------------------------------------- Debtor: TFH Fitness, LLC The Field House Gym 1806 Royal Loop Belton, TX 76513 Business Description: TFH Fitness, LLC operates The Field House Gym fitness facilities in Temple and Harker Heights, Texas. The gym provides fitness training and trainer coaching for members, with its Harker Heights facility emphasizing strength training and a weightlifting-focused environment. Chapter 11 Petition Date: June 5, 2026 Court: United States Bankruptcy Court Western District of Texas Case No.: 26-11084 Judge: Hon. Shad M Robinson Debtor's Counsel: Frank B Lyon, Esq. FRANK B LYON P.O. Box 50210 Austin TX 78763-0210 Tel: (512) 345-8964 E-mail: frank@franklyon.com Estimated Assets: $0 to $50,000 Estimated Liabilities: $1 million to $10 million The petition was signed by Timothy Koenitzer as managing member. A full-text copy of the petition, which includes a list of the Debtor's 20 largest unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/FQDOXFI/TFH_Fitness_LLC__txwbke-26-11084__0001.0.pdf?mcid=tGE4TAMA TIMIOS ENTERPRISES: Gets Interim OK to Use Cash Collateral ---------------------------------------------------------- The U.S. Bankruptcy Court for the Northern District of Illinois, Eastern Division entered an interim order authorizing Timios Enterprises LLC, d/b/a Palm Court Restaurant, to use cash collateral under Section 363 of the Bankruptcy Code. The debtor is authorized to use cash collateral through July 1 in accordance with the budget attached to the motion, with flexibility to exceed the aggregate budgeted line items by up to 10% unless otherwise agreed by the secured creditors. The authorization is intended to fund ongoing business operations while preserving creditor protections. As adequate protection for the secured creditors, including Newtek Small Business Finance, ARF Financial, Millennium Bank, Avion Funding HC LLC, Capytal.com, Everest Business Funding, Kapfi Equity LLC, Lawrence Funding Group Inc., Oakwood Business Funding LLC, SQ Funding, and Cromwell Capital LLC, the Court granted replacement liens on the debtor's post-petition cash collateral and other post-petition assets of the same type and priority as their prepetition collateral interests. The order preserves all rights and remedies of both the debtor and the secured creditors under their agreements and applicable law, including any claims against guarantors. The Court scheduled a further hearing on the cash collateral motion for June 30. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/3Jmk6 from PacerMonitor.com. About Timios Enterprises, LLC Timios Enterprises LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 26-08984) with $0 to $50,000 in assets and $1,000,001 to $10 million in laibilities. The Debtor is represented by: Gregory K Stern Gregory K. Stern, P.C. Tel: 312-427-1558 Email: greg@gregstern.com TMC BUYER: S&P Reinstates 'B' Rating on Revolving Credit Facility ----------------------------------------------------------------- S&P Global Ratings reinstated its 'B' issue-level rating and '3' recovery rating (50%-70%; rounded estimate: 50%) on TMC Buyer Inc.'s $75 million revolving credit facility. The ratings were withdrawn in error on Nov. 14, 2025. TOSCA SERVICES: S&P Affirms 'CCC+' ICR on Continued Cash Burn ------------------------------------------------------------- S&P Global Ratings affirmed all of its ratings on Tosca Services LLC, including the 'CCC+' issuer credit rating. The negative outlook reflects that S&P could lower its ratings on the company if ongoing cash flow deficits exhaust its liquidity, or if the company is unable to refinance its debt before it becomes current. S&P Global Ratings expects Tosca's growth-related capital expenditure (capex) will drive cash burn over the next few years, further deteriorating its liquidity position. S&P believes the company's capital structure is unsustainable in the long run as we project that Tosca's high interest expense and high growth-related capex will deplete its liquidity position over the next few years. Tosca's capital structure remains fundamentally unsustainable due to persistent free operating cash flow (FOCF) deficits depleting its liquidity position. Since the debt restructuring in 2024, which we viewed as tantamount to a default, Tosca's liquidity has decreased $88.3 million, leaving the company with $80.8 million in total liquidity as of March 31, 2026. S&P anticipates that the company's high level of growth-related capital expenditure (capex) will continue to outpace its cash flow from operations, leading to a steady erosion of its liquidity position over the next two years. In addition, the upcoming maturities of the revolver and term loans in August and November 2028, respectively, present a refinancing hurdle. S&P said, "While Tosca has demonstrated operational resilience and earnings growth and we project FOCF (excluding growth capex) to improve, these figures do not account for the heavy investment required to sustain the company's current growth trajectory. We anticipate that growth capex, driven by new business wins and the expansion of its pooling services, will remain elevated at 10%-12% of sales, outpacing operating cash flow generation. We forecast reported FOCF deficits of $35 million-$45 million in 2026 and $25 million-$35 million in 2027. "We believe that the company will draw on its revolver to fund the projected deficit from 2026-2027, diminishing its liquidity buffer. We expect this diminished liquidity position may present challenges in refinancing the company's 2028 maturities before they become current. "Although Tosca has publicly committed to maintaining a liquidity floor of $40 million, the company will likely continue to prioritize expanding market share over preserving liquidity. In addition, we believe ownership by a financial sponsor may translate to aggressive growth investment to ensure high revenue and EBITDA growth. "We expect solid earnings growth will improve leverage through 2027 due to robust revenue growth and expanding EBITDA margins. The company continues to benefit from the European regulatory environment, where tracing mandates and other regulations create a tailwind for its upstream and downstream businesses. We anticipate this momentum will continue, with solid revenue growth in Europe as the company expands its wallet share and gains new business. "In the U.S., while regulatory mandates are currently more localized--such as in California--we believe the broader value proposition of Tosca's solutions, including reduced food breakage and improved shipping efficiencies for customers, will drive steady demand. "We project S&P Global Ratings-adjusted EBITDA margins to remain above average at about 27% through 2027. This stems from enhanced operating leverage from revenue growth, price increases, an increased proportion of higher-margin product sales (including eggs, cheese, and diary), cost-saving initiatives, and the more automation at North American washing sites. "Improving margins and revenue have steadily boosted earnings, resulting in S&P Global Ratings-adjusted leverage falling to 6.4x in 2025 from 9.8x in 2024. We expect this deleveraging will continue into 2026 and 2027, leading to S&P Global Ratings-adjusted leverage of around 6.0x in 2026 and 5.5x-6.0x in 2027. "The negative outlook reflects a continued reported FOCF deficit in 2026 and 2027 that weakens Tosca's liquidity position, based on our forecast of high growth capex. The outlook also reflects our belief that refinancing risks may be heightened as maturities become current, given our forecast for a continued liquidity drain. "We could lower our rating on Tosca if its liquidity declines due to persistent, negative FOCF generation, which would strain liquidity or increase the likelihood of a distressed exchange or restructuring over the next 12 months. For instance, we could lower our rating if capex remains elevated absent a sufficient return on its investment or if it loses customer contracts." S&P could raise the rating if: -- The company improves its liquidity position by successfully refinancing its capital structure to provide ample liquidity to fund growth capex over the longer run; or -- The company changes its growth strategy to maintain or grow its liquidity position. S&P would also expect its other credit measures, including its debt leverage, to remain sustainable over the long term. TREEO'S TREE: Gets Final OK to Use Cash Collateral -------------------------------------------------- The U.S. Bankruptcy Court for the Eastern District of Wisconsin entered a final order authorizing Treeo's Tree Service, Inc. to use cash collateral in its Subchapter V Chapter 11 case. The order allows the Debtor to continue using cash collateral in accordance with an approved operating budget. As adequate protection, secured lender Byline Bank will receive monthly payments of $13,271.83, payable on or before the 21st day of each month. These payments are intended to protect the bank's interests while the Debtor continues operating during the bankruptcy proceedings. The court also granted Byline Bank post-petition replacement liens on the Debtor's assets with the same priority and extent as its prepetition liens. The replacement liens are deemed valid and perfected upon entry of the order, although the Debtor and other parties retain the right to challenge the value, priority, extent, or secured status of the bank's claims at a later date. In addition, the Debtor must continue providing Chapter 11 financial reports, maintain property and liability insurance, and comply with all terms of the order. If the Debtor defaults, fails to maintain insurance, ceases normal operations, has the case dismissed, or a trustee is appointed, Byline Bank may seek relief from the automatic stay if the default remains uncured for 14 days after notice. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/tRSWf from PacerMonitor.com. Byline Bank, as secured creditor, is represented by: Beth M. Brockmeyer, Esq. Cramer Multhauf LLP 1601 E. Racine Avenue, Suite 200 P.O. Box 558 Waukesha, WI 53187-0558 Phone: (262) 542-4278 Fax: (262) 542-4270 bb@cmlawgroup.com About Treeo's Tree Service Inc. Treeo's Tree Service, Inc. specializes in hazardous tree removal and landscape services. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Wisc. Case No. 26-22563) on May 5, 2026. In the petition signed by Mark Caswell, president, the Debtor disclosed up to $1 million in assets and up to $10 million in liabilities. John W. Menn, Esq., at Swanson Sweet LLP, represents the Debtor as legal counsel. TWENTY EIGHT: Gets OK to Use Cash Collateral Until June 30 ---------------------------------------------------------- Twenty Eight Hundred Lafayette, Inc. received another extension from the U.S. Bankruptcy Court for the District of New Hampshire to use its secured creditors' cash collateral. The interim order signed by Judge Kimberly Bacher authorized the Debtor to use up to $214,872.88 in cash collateral through June 30 to pay the expenses in accordance with its budget. As protection for the Debtor's use of their cash collateral, secured creditors including Enterprise Bank & Trust, Rockingham Economic Development Corp. and the U.S. Small Business Administration will be granted replacement liens on property acquired by the Debtor after the petition date that is similar to their pre-bankruptcy collateral. The replacement liens do not apply to any Chapter 5 actions. As further protection, the Debtor will continue to make monthly payments of $3,156.11 to SBA, $3,232.12 to Enterprise Bank & Trust, and $1,509.26 to Rockingham. The next hearing is scheduled for June 24. Objections are due by June 17. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/li4GC from PacerMonitor.com. About Twenty Eight Hundred Lafayette Established in 1992, Twenty Eight Hundred Lafayette, Inc. is a seafood restaurant with locations in Epping, Portsmouth, Salem, and North Hampton (seasonal) in New Hampshire. It conducts business under the names The Beach Plum 2 Portsmouth and The Beach Plum 3 Epping. Twenty Eight Hundred Lafayette filed Chapter 11 petition (Bankr. D.N.H. Case No. 25-10046) on January 27, 2025. In its petition, the Debtor reported assets between $50,000 and $100,000 and liabilities between $1 million and $10 million. Judge Kimberly Bacher handles the case. Eleanor Wm. Dahar, Esq., at Victor W. Dahar Professional Association is the Debtor's legal counsel. Enterprise Bank & Trust, as secured creditor, is represented by: Patricia J. Ballard, Esq. Preti, Flaherty, Beliveau & Pachios, PLLP P.O. Box 1318 Concord, NH 03302-1318 (603) 410-1500 pballard@preti.com UNITED NATURAL: S&P Upgrades ICR to 'B+' on Improving Leverage -------------------------------------------------------------- S&P Global Ratings raised its issuer credit rating on United Natural Foods Inc. (UNFI) to 'B+' from 'B'. S&P also raised the issue-level ratings on UNFI's senior secured debt to 'BB-' from 'B+' and senior unsecured debt to 'B-' from 'CCC+'. The respective recovery ratings are unchanged. The stable outlook reflects S&P's expectation of favorable industry trends in the natural and organic segment, successful implementation of strategic initiatives, and continued debt reduction supporting leverage improvement toward the mid- to low-4x range over the next 12 months. UNFI has meaningfully strengthened credit metrics, reducing S&P Global Ratings-adjusted leverage to 5.1x as of the third quarter of fiscal 2026 from 5.9x in the prior-year period, from debt reduction and improved profitability. S&P expects debt repayment and earnings growth from cost-saving and efficiency initiatives and the roll-off of one-time costs to improve adjusted leverage to the mid- to low-4x range. The upgrade reflects meaningful deleveraging through the third quarter of fiscal 2026. S&P expects S&P Global Ratings-adjusted leverage will decline below 5x for the fiscal year ending Aug. 1, 2026, and remain in the mid- to low-4x range. UNFI has strengthened credit metrics through debt reduction, the roll-off of one-time costs, and cost-saving and efficiency initiatives. Trailing-12-months adjusted leverage declined to 5.1x in the third quarter of fiscal 2026 from 5.9x in the prior-year period. S&P believes UNFI remains on track to reduce debt using free operating cash flow (FOCF). EBITDA in the fourth quarter of fiscal 2025 was constrained by $128 million in nonrecurring items, including a $53 million contract termination fee associated with the Key Foods separation, $50 million from lost sales due to a cybersecurity incident, and $25 million in related remediation costs. Excluding these and the $40 million in cyber insurance proceeds received through the third quarter, S&P Global Ratings-adjusted leverage in the period would have been 4.6x as of the third quarter of fiscal 2026. The company has strengthened profitability this year from cost savings and enhanced distribution center productivity. UNFI is optimizing its distribution network through facility consolidations into more modern and efficient locations, strategic investments in network expansion into more efficient facilities, and increased automation. Furthermore, implementation of supply chain technologies and lean daily management are driving improvements in fill rates, on-time delivery, and productivity, with further gains expected as these initiatives mature. Deployment of lean initiatives continues, with daily management now implemented across 40 distribution centers, representing over 80% of the network. Additionally, earnings have been bolstered by a strategic shift to exit unprofitable customer contracts within the company's conventional segment, prioritizing margin expansion over volume. We expect an 11%-12% decline in conventional segment revenue during fiscal 2026 and 7% growth in the natural segment as UNFI executes its accretive, product-focused network optimization. S&P said, "We expect adjusted leverage in the low- to mid-4x range for the next 12 months. Deleveraging remains UNFI's primary capital allocation priority. It has clear leverage targets, aiming for a company-calculated net leverage of 2.3x in fiscal 2026 and below 2x by the end of fiscal 2027. We estimate that this corresponds to S&P Global Ratings-adjusted leverage of 4.5x and below 4x, respectively. Our forecast assumes organic expansion rather than mergers and acquisitions. We expect reported FOCF to improve to $270 million-$280 million in fiscal 2026, following a significant inflection to $238 million in fiscal 2025 from a $110 million deficit in fiscal 2024. Furthermore, we anticipate that it will direct FOCF toward capital expenditure, split between maintenance (1/3), technology (1/3), and supply chain modernization and growth (1/3). We expect minimal share repurchases and do not anticipate any dividend payments. Based on our updated forecast, we have revised our financial risk profile score to 'aggressive' from 'highly leveraged'. UNFI has a leading market position and substantial scale within the highly competitive and low-margin food retail distribution industry. We believe UNFI is positioned to capture expansion within this higher-growth segment, which consistently outperforms conventional grocery channels, even amid a bifurcated macroeconomic environment. Since 2006, natural and organic grocers have expanded market share approximately 3x, while differentiated regional and independent grocers have expanded 2x, as grocery spending consolidates toward retailers with clear, specialized value propositions. The structural relevance of the natural sector is further reinforced by performance during economic volatility as consumers shift from restaurant dining to food-at-home alternatives and private label products. S&P said, "Conventional product-focused network optimization will support margin expansion. With the targeted shift in revenue mix, we anticipate favorable expansion trends in the natural segment will offset targeted customer exits within the lower-growth conventional segment. Consequently, we project a modest 2% revenue contraction in fiscal 2026, followed by 0.8% improvement in fiscal 2027. This forecast is underpinned by an expanding customer base, the introduction of new product categories, strong customer retention, and increasing demand for specialty, fresh, and private label products. UNFI is effectively rebalancing its revenue mix to align with long-term structural tailwinds. We expect S&P Global Ratings-adjusted margin to increase to 2.9% in fiscal 2026, from 2.1% in fiscal 2025. "The stable outlook on UNFI reflects our expectation of industry momentum in the natural and organic segment and implementation of strategic initiatives supporting efforts to pay down debt and improve leverage to the S&P Global Ratings-adjusted mid- to low-4x range over the next 12 months." S&P could lower the rating on UNFI if it sustains S&P Global Ratings-adjusted leverage above 5x. This could occur if: -- Volumes fall due to customer losses or weaker demand; -- Margins decline from pricing pressure, cost inflation, or operational disruptions that reduce profit and FOCF; or -- UNFI deviates from its financial policy and prioritizes shareholder returns or debt-funded acquisitions that pressures credit metrics. S&P could raise the rating on UNFI if it sustains S&P Global Ratings-adjusted leverage below 4x. This could occur if: -- Volumes increase through customer wins, market share gains, or stronger demand; -- Margins expand through favorable product mix or improved operating leverage; or -- UNFI commits to a more conservative financial policy. URBAN ONE: S&P Upgrades ICR to 'CCC+', Outlook Negative ------------------------------------------------------- S&P Global Ratings raised its issuer credit rating on Urban One Inc. to 'CCC+' from 'SD' (selective default). S&P said, "We also raised the issue-level rating on the company's second lien notes to 'CCC+' from 'D'. Given the lower amount of second-lien notes now outstanding, we revised the recovery rating to '4' from '5'. "The negative outlook reflects the ongoing headwinds Urban One faces from secular and cyclical pressures as well as the potential for us to lower the rating if we envision a default in the next 12 months. Still, we expect the company will have sufficient liquidity--supported by its cash and the availability under its asset-based lending (ABL) credit facility--to meet its operating and fixed-charge obligations over the next 12 months. "We have reassessed Urban One Inc.'s credit profile following its repurchase of its second-lien notes at a significant discount in the first four months of 2026. "Despite the repurchases reducing outstanding debt by about $56 million, we believe the company still depends on favorable business, financial, and economic conditions to meet its financial obligations given declining EBITDA and cash flow due to secular pressures in broadcast radio and cable TV. "Despite the debt reduction, we believe Urban One remains dependent on favorable conditions. We expect the company's S&P Global Ratings-adjusted gross leverage will decline only modestly to around 8.6x in 2026 compared to 8.8x at the end of 2025. This is despite the company recently reducing its outstanding second-lien notes by $56 million to $235 million. We expect EBITDA will erode over the next few years given the cyclical and secular challenges facing broadcast radio and cable television, which we believe will make it difficult for Urban One to improve credit metrics materially. "We expect ongoing macroeconomic uncertainty will exacerbate broadcast radio and cable TV's revenue decline. Moreover, advertisers are reducing spending on diversity, equity, and inclusion initiatives, which is one of Uran One's key advertising categories. The majority of the company's business comes from national advertising, which we expect will continue to underperform local advertising because brand advertising is more expendable than direct response advertising. We believe it will become increasingly difficult for debt repayment to fully offset EBITDA declines. We also consider it unlikely that the company will repurchase a sizeable amount of debt given its current cash position and expected cash flow. "We expect Urban One will maintain sufficient liquidity over the next 12 months. As of March 31, 2026, the company had about $27 million of cash and $32 million available under its ABL facility. In addition, we expect Urban One will generate about $20 million of free operating cash flow (FOCF) over the next 12 months. The bulk of the company's debt maturities are in 2030-2031, with only $7.5 million due in 2028. "The company drew an additional $10 million on its ABL subsequent to quarter end, bringing the total outstanding to $20 million and the amount available under its ABL to $22 million. Management expects to repay these borrowings before the end of this year. Despite the $75 million facility size, availability under its ABL remains limited by its current borrowing base. "The negative outlook reflects the ongoing headwinds Urban One faces from secular and cyclical pressures as well as the possibility of us lowering the rating if we envision a default in the next 12 months. Still, we expect the company will have sufficient liquidity--supported by its cash and the availability under its ABL credit facility--to meet its operating and fixed-charge obligations over the next 12 months." S&P could lower its rating on Urban One if S&P expects a default in the next 12 months. This could occur if: -- Secular declines in broadcast radio or cable TV advertising accelerate or the company's digital revenue growth is less robust than expected, leading to a deterioration in its liquidity; or -- The company pursues further below-par debt repurchases, debt exchanges, or an out-of-court restructuring that S&P deems tantamount to a default. Although unlikely in the next 12 months, S&P could raise the rating if Urban One: -- Reduces its S&P Global Ratings-adjusted gross leverage below 5x; -- Maintains consistently positive FOCF generation; and -- Generates sustained increases in its revenue and EBITDA, likely due to an accelerated expansion in digital revenue, that offsets the declines in its broadcast radio and cable TV businesses. VCHG GHOST: Yann Geron Named Subchapter V Trustee ------------------------------------------------- The U.S. Trustee for Region 2 appointed Yann Geron, Esq., at Geron Legal Advisors, LLC as Subchapter V trustee for VCHG Ghost Kitchen Facility, LLC. Mr. Geron will be paid an hourly fee of $975 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Geron declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Yann Geron, Esq. Geron Legal Advisors, LLC 370 Lexington Avenue, Suite 1101 New York, NY 10017 Phone: (646) 560-3224 Email: ygeron@geronlegaladvisors.com About VCHG Ghost Kitchen Facility LLC VCHG Ghost Kitchen Facility, LLC is a food service and commercial kitchen operator focused on shared and delivery-based food production facilities. VCHG Ghost Kitchen Facility sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. N.Y. Case No. 26-42538) on May 26, 2026. In its petition, the Debtor reported assets of between $50,001 to $100,000 and liabilities of between $100,001 and $1 million. Honorable Bankruptcy Judge Jil Mazer-Marino handles the case. VENICE CAR: Michael Markham Named Subchapter V Trustee ------------------------------------------------------ The Acting U.S. Trustee for Region 21 appointed Michael Markham, Esq., as Subchapter V trustee for Venice Car Wash, Limited Liability Company. Mr. Markham, a partner at Johnson Pope Bokor Ruppel & Burns, LLP, 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. Markham declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Michael C. Markham, Esq. Johnson Pope Bokor Ruppel & Burns, LLP 401 E. Jackson Street, Suite 3100 Tampa, FL 33602 Phone: (727) 480-5118 Mikem@jpfirm.com About Venice Car Wash, Limited Liability Company Venice Car Wash, Limited Liability Company sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 26-04742) on June 2, 2026, with $0 to $50,000 in assets and liabilities. Richard John Cole, III, Esq. at Cole & Cole Law, P.A. represents the Debtor as legal counsel. VEYTIA VENTURES: Ruediger Mueller Named Subchapter V Trustee ------------------------------------------------------------ The Acting U.S. Trustee for Region 21 appointed Ruediger Mueller of TCMI, Inc. as Subchapter V trustee for Veytia Ventures, LLC. Mr. Mueller 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. Mueller declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Ruediger Mueller TCMI, Inc. 1112 Watson Court Reunion, FL 34747 Telephone: (678) 863-0473 Facsimile: (407) 540-9306 Email: truste@tcmius.com About Veytia Ventures LLC Veytia Ventures, LLC, sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 26-04736) on June 1, 2026, with $100,001 to $500,000 in assets and $1,000,001 to $10 million in liabilities. Kathleen DiSanto, Esq. at Bush Ross, P.A. represents the Debtor as legal counsel. VIAVI SOLUTIONS: Moody's Ups CFR to Ba2 & Alters Outlook to Pos., ----------------------------------------------------------------- Moody's Ratings upgraded Viavi Solutions Inc.'s ("Viavi" or the company) ratings, including the corporate family rating to Ba2 from Ba3, the probability of default rating to Ba2-PD from Ba3-PD, and the senior unsecured rating to Ba2 from B1. The speculative grade liquidity (SGL) rating remains SGL-1. Moody's changed the outlook to positive from stable. The upgrade follows Viavi's announcement[1] on May 19, 2026 of an underwritten public equity offering generating around $575 million in gross proceeds. Viavi intends to use the net proceeds to repay the $450 million aggregate principal amount of its Term Loan, with any excess applied to working capital and general corporate purposes. Governance was a key factor in the rating action. "The upgrade to Ba2 and positive outlook reflects Viavi's significant deleveraging from the equity-funded repayment of its term loan, combined with strong operating momentum driven by data center ecosystem demand and contributions from recent acquisitions," said Moody's Ratings Analyst Justin Remsen. "Pro forma for the equity raise and debt repayment, Moody's projects leverage will decline to approximately 2.7x by fiscal year-end June 2026, down from over 6x for the twelve months ending March 2026, and further toward 2x by fiscal 2027. Free cash flow is expected to scale meaningfully to over $225 million in fiscal 2027 and approach $325 million by fiscal 2028, supporting FCF/debt above 25%," added Remsen. RATINGS RATIONALE The Ba2 CFR reflects Viavi's strong organic revenue growth supported by the data center ecosystem and aerospace and defense end markets, expanding EBITDA margins, and a robust liquidity position. These strengths are partially offset by Viavi's relatively modest revenue scale and exposure to cyclical end markets, although the current cycle is supported by AI-driven infrastructure buildouts. Viavi has demonstrated strong operating performance, with revenue growing to $1,365 million on an LTM March 2026 (up over 30% year-over-year, supported by strong organic growth and acquisitions). Moody's projects revenue to reach approximately $1.5 billion in fiscal 2026 and about $1.8 billion in fiscal 2027, with EBITDA margins expanding from 15% in fiscal 2026 toward 20% by fiscal 2027 as operating leverage improves and the company benefits from its restructuring actions. Viavi holds strong positions in several niche markets, including optical security pigments used in anti-counterfeiting features in currency and optical components used in 3D sensing applications. The October 2025 acquisition of Spirent's High Speed Ethernet, Network Security, and Channel Emulation testing businesses expanded Viavi's Ethernet testing portfolio and increased its exposure to data center-related spending. The Inertial Labs acquisition further strengthened Viavi's position in resilient position, navigation and timing (PNT) solutions serving aerospace, defense, and critical infrastructure customers. The two-notch upgrade of the senior unsecured notes to Ba2 from B1 reflects the improved position of these instruments in the capital structure, as the majority of claims are now senior unsecured following the repayment of the term loan. The SGL-1 rating reflects very good liquidity supported by robust cash balances and consistent free cash flow generation. Moody's projects Viavi to generate over $100 million of free cash flow in fiscal 2026, scaling to over $200 million in fiscal 2027. Moody's do not anticipate the company to rely on the $200 million ABL Revolver. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS Viavi's ratings could be upgraded if the company maintains a conservative financial policy and disciplined capital allocation that preserves balance sheet flexibility, while growing in scale with EBITDA margins above 25%, FCF to debt above 25%, and debt to EBITDA sustained below 3.0x across industry cycles. Viavi's ratings could be downgraded if Viavi sustains revenue declines, EBITDA margin decreases toward the mid- teens percent level, FCF to debt declines below 10%, or there is a deterioration of liquidity or shift to a more aggressive financial policy, including large debt-funded acquisitions or shareholder returns. Viavi Solutions Inc., based in Chandler, Arizona, provides network test, monitoring, and assurance instruments and software used by communications service providers, data center operators, network equipment manufacturers, enterprises, and aerospace and defense customers. The company also produces optical security pigments used in currency anti-counterfeiting applications and optical filters primarily used in 3D sensing modules for smartphones. The principal methodology used in these ratings was Diversified Technology 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. VINTRENDI WINE: Court Extends Cash Collateral Access to July 2 -------------------------------------------------------------- Vintrendi Wine Company received sixth interim approval from the U.S. Bankruptcy Court for the Northern District of Illinois, Eastern Division, to use cash collateral to fund operations. The court authorized the Debtor to use cash collateral through July 2 within the budgeted amounts, plus 10% or as agreed by the lien claimants. The lien claimants include the U.S. Small Business Administration, Funding Circle USA, Liberty Bank, WebBank as Shopify, and Byzfunder NY, LLC. As adequate protection, the lien claimants will be granted replacement liens on the cash collateral and all property acquired by the Debtor after the petition date similar to their pre-bankruptcy collateral. These replacement liens will have the same priority and extent as the lien claimants' pre-bankruptcy liens. The next hearing is set for July 1. The deadline for filing objections is on June 26. The interim order is available at https://shorturl.at/CAEnJ from PacerMonitor.com. About Vintrendi Wine Company Vintrendi Wine Company is a wine manufacture in Illinois. Vintrendi sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 25-18650) on December 4, 2025, with up to $100,000 in assets and up to $1 million in liabilities. Rickey Nesbitt, president of Vintrendi, signed the petition. Judge David D. Cleary oversees the case. Gregory K. Ster, Esq., at Gregory K. Stern, P.C., represents the Debtor as legal counsel. VISTRA OPERATIONS: Moody's Cuts Rating on Revolver Facility to Ba1 ------------------------------------------------------------------ Moody's Ratings downgraded Vistra Operations Company LLC's (Vistra Operations) revolving credit facility (RCF) to Ba1 from Baa3. Vistra Corp.'s (Vistra) Ba1 corporate family rating and Ba1-PD probability of default rating, Palomino Funding Trust I's (Palomino) Ba1 rating on its senior secured notes, and Vistra Zero Operating Company, LLC's (Vistra Zero) Ba2 rating on its senior secured term loan are unchanged. The rating action also does not affect the ratings on Vistra's preferred stock nor Vistra Operations' senior unsecured notes. Vistra's, Vistra Operations', and Palomino's outlooks are stable. Vistra Zero's outlook remains negative. RATINGS RATIONALE The downgrade of Vistra Operations' revolving credit facility to Ba1 reflects the suspension of the collateral previously securing the RCF following the repayment of the senior secured term loan. Vistra's credit facilities have a lien suspension provision if Vistra Operations' senior unsecured rating is rated investment grade from two rating agencies and the senior secured term loan is no longer outstanding. These conditions have been met and the RCF's collateral lien has been released. Vistra's Ba1 CFR is unchanged and reflects the company's large and diversified merchant power fleet, long term purchase power agreement for its nuclear plants, and its profitable and stable retail business. It also considers the company's acquisitive nature and associated financial policy including the use of debt to fund acquisitions. Palomino's Ba1 rating reflects Vistra Operations' obligation to provide adequate funds or deliver senior notes to the Trust, if needed, to pay interest and principal. Vistra Zero's Ba2 rating reflects the reliance on Vistra for a significant portion of its contracted revenue and its strategic importance to Vistra. The rating also considers its term loan's non-recourse nature to Vistra and collateral limited primarily to battery storage facilities that have yet to demonstrate consistent reliability. A comprehensive review of all credit ratings for the respective issuer(s) has been conducted during a rating committee. Outlook Vistra's stable outlook reflects its large and diverse business mix, robust free cash flow, and improving credit metrics. Palomino's outlook reflects Vistra's outlook. The negative outlook on Vistra Zero reflects uncertainty surrounding its financial and operational structure following a fire at its battery storage facility in California. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATING Factors that Could Lead to an Upgrade A positive rating action could occur if Vistra successfully integrates acquired businesses while demonstrating that it could also maintain an investment grade profile, including a consistent track record of stronger balance sheet management and its FFO to debt of at least 24% on a sustained basis. Palomino could be upgraded if Vistra is upgraded. Vistra Zero's outlook could be revised to stable once it is able to address the financial and operating challenges from the battery storage fire while sustaining CFO pre-W/C to debt at around 14-15%. Factors that Could Lead to a Downgrade A negative rating action could occur if Vistra faces challenges in executing its deleveraging plan or adopts financial or strategic changes that weaken the positive trajectory. To maintain its current ratings, Vistra must sustain an FFO to debt ratio of at least 17%. Palomino could be downgraded if Vistra is downgraded. Vistra Zero could be downgraded if support from Vistra weakens or if CFO pre-W/C to debt is substantially below 14%. Company Profile Vistra is one of the largest independent power producers in the US, owning 44 gigawatts (GW) of generating capacity. It is also one of the US's largest retail energy suppliers, serving about 5 million customers. LIST OF AFFECTED RATINGS Issuer: Vistra Operations Company LLC Downgrades: Senior Secured Bank Credit Facility, Downgraded to Ba1 from Baa3 The principal methodology used in this rating was Unregulated Utilities and Power Companies published in August 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. VM CONSOLIDATED: Moody's Cuts CFR to B1, Outlook Stable ------------------------------------------------------- Moody's Ratings downgraded VM Consolidated, Inc.'s (dba Verra Mobility) corporate family rating to B1 from Ba3 and probability of default rating to B1-PD from Ba3-PD following the company's announcement that it received a termination notice from Avis Budget Group, Inc. (Avis Budget), effective September 2026. Concurrently, Moody's downgraded the company's backed senior secured first-lien term loan due 2032 to Ba3 from Ba2 and its senior unsecured notes due 2029 to B3 from B2. The speculative grade liquidity rating (SGL) remains unchanged at SGL-1. The outlook is maintained at stable. Verra Mobility is a technology-enabled company providing tolling, violation management, and title and registration services for rental car and fleet management companies, as well as road safety camera solutions for municipalities. The downgrade of the CFR to B1 from Ba3 reflects Moody's expectations that the loss of a large, long-standing and highly profitable customer will materially reduce revenue and EBITDA, increasing debt/EBITDA leverage, compressing margins and heightening customer concentration risk. According to the company, the Avis Budget contract would have generated approximately $120 million to $125 million of annualized segment operating profit in 2026, before any cost actions. Its loss will increase Verra Mobility's debt/EBITDA (based on Moody's adjustments) to around 4.4x from 3.0x, for the twelve months ended March 31, 2026. The company is taking steps to mitigate the impact through cost reductions and resource reallocation. Moody's expects Verra Mobility to adjust its cost structure and reduce debt/EBITDA to below 4.0x over the next 12-18 months. The unexpected loss of a cornerstone client raises Moody's concerns about the durability of contracts in the commercial segment and underscores structural reliance on a limited number of large customers driving a disproportionate share of revenue. Moody's believes that the loss of the Avis Budget contract may increase renewal risk with other customers and weaken pricing power, contributing to further margin compression. Future growth will depend on new contract wins and expansion into adjacent markets, introducing additional execution risk. RATINGS RATIONALE Verra Mobility's B1 CFR is supported by its strong competitive position within two of its niche markets, Government Solutions and Commercial Services, with more than 90% of revenue derived from services and primarily recurring in nature. The Commercial Services segment benefits from secular trends toward the adoption of all-electronic toll payments and car rental volumes, primarily in the US and Europe. Its competitive position is strengthened by connectivity with over 50 US tolling authorities and direct integration with hundreds of ticket issuing authorities. The Government Solutions segment benefits from the company's incumbent status with the NYCDOT, which was recently renewed for five years, and is less susceptible to macroeconomic conditions. Expansion into new and existing markets, such as California, Connecticut, Colorado and Florida, presents opportunities for growth amid favorable legislative changes, although New York City will remain, by far, the largest Government Solutions customer. However, Verra Mobility's rating is constrained by the company's high customer concentration with its top three clients, approaching 50% following the loss of the Avis Budget contract, as well as its modest revenue base and near-term execution risk related to cost mitigation actions. Future growth may be limited given the fragility of contract renewals and potential competitive pressures in the core segments. Due to the loss of the Avis Budget contract and factoring in the new NYCDOT contract terms, the company's profitability will be materially lower than historical levels, with EBITDA margins declining to the low-30% range over the next 12-18 months. Over the longer term, Moody's expects margin recovery driven by cost actions, scale benefits, productivity improvements, and platform consolidation. The rating also considers exposure to the cyclical US car rental sector and moderating travel demand. The downgrades of the senior secured term loan to Ba3 from Ba2 and senior unsecured notes to B3 from B2 reflect the downgrade of the company's CFR to B1 from Ba3 and each instrument's position in the debt capital structure. The senior secured first-lien term loan rating of Ba3, one notch above the company's B1 CFR, benefits from its priority position in the capital structure and the loss absorption provided by the $350 million unsecured senior notes. The unsecured senior notes rating of B3, two notches below the B1 CFR, reflects the contractual subordination to the $150 million ABL facility and $689 million backed senior secured first-lien term loan obligation. The ABL revolving credit facility has a priority claim with respect to the current assets including accounts receivable and inventory. The term loan is guaranteed by all current and future material domestic subsidiaries of the borrower; all guarantees are secured by the assets of the guarantor. The notes are guaranteed by all current and future material domestic subsidiaries of the borrower on an unsecured basis. The company's SGL-1 speculative grade liquidity rating reflects Moody's expectations that Verra Mobility will maintain very good liquidity over the next 12-15 months. Liquidity is supported by Moody's expectations of positive free cash flow of more than $90 million over the next 12-15 months, and solid availability under the company's $150 million ABL facility (unrated) maturing in 2030. As of March 31, 2026, the company had approximately $47 million in cash and $26 million drawn on its ABL facility. Moody's projects the company to repay outstanding revolver borrowings in 2026 and maintain a disciplined financial policy, prioritizing debt reduction over shareholder returns and acquisitions. The sole financial covenant in the credit facility is for the ABL revolver facility and is a springing minimum fixed charge coverage ratio of 1.0x, which is only tested if the availability under the ABL facility falls below 10%. Moody's do not expect the covenant to be triggered over the next 12 months and, if it was triggered, the company would be able to comply with a reasonable cushion. The stable rating outlook reflects Moody's expectations that revenue (pro forma for the loss of the Avis Budget contract) will grow at a low-single digit percentage rate, while profitability will materially weaken over the next 12-18 months, with debt/EBITDA remaining at or below 4.0x. Moody's anticipates that the company's liquidity will remain strong, supported by solid free cash flow generation and conservative financial policies. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS Upward rating pressure is unlikely in the near term. Over time, the ratings could be upgraded if the company demonstrates stabilization and recovery in its business profile by successfully replacing loss revenue through new contract wins, improving customer diversification, and restoring EBITDA margins. An upgrade would also require substantial improvement in credit metrics, with debt/EBITDA sustaining below 3.5x and strong free cash flow generation. The ratings could be downgraded if the company fails to stabilize operations, EBITDA margins remain under sustained pressure, and leverage remains elevated. The downgrade pressure could also develop if liquidity deteriorates or if management adopts more aggressive financial policies. Quantitatively, the ratings could be downgraded if debt/EBITDA is sustained above 4.5x or free cash flow/debt declines toward 5%. The principal methodology used in these ratings was Business and Consumer Services published in February 2026 and available at https://ratings.moodys.com/rmc-documents/459827. Alternatively, please see the Rating Methodologies page on https://ratings.moodys.com for a copy of this methodology. Verra Mobility's B1 rating is two notches below the scorecard-indicated outcome of Ba2 for the 12-18 months forward view. The difference reflects Moody's greater emphasis on the company's exposure to cyclical car rental market and high customer concentration. Verra Mobility, (NASDAQ:VRRM), headquartered in Mesa, Arizona, is a technology-enabled services company providing toll, violation management, and title and registration services for rental car and fleet management companies, road safety cameras for municipalities, and commercial parking services and hardware. The company primarily operates in North America. Moody's project annual revenue will remain below $900 million in 2027. WALL007 LLC: Court Tosses Barton Appeal in Securities Complaint --------------------------------------------------------------- Judges Priscilla Richman, Leslie H. Southwick, and Don R. Willett of the U.S. Court of Appeals for the Fifth Circuit dismissed the appeal styled Securities and Exchange Commission, Plaintiff-Appellee, versus Timothy Barton, Defendant-Appellant, No. 25-11043 (5th Cir.), for lack of jurisdiction. This appeal is one of numerous appeals involving SEC's complaint against Timothy Barton for alleged violations of the Exchange Act and Securities Act. Barton challenges the district court's order lifting a stay of litigation which permitted the bankruptcy court to dismiss several cases involving entities he controlled. SEC filed a complaint against Barton and others, alleging they defrauded over 100 investors in violation of the Exchange Act and Securities Act. Prior to SEC filing its complaint in the United States District Court for the Northern District of Texas, ten entities Barton controlled filed Chapter 11 bankruptcy petitions (collectively "Bankruptcy Proceeding") in the United States Bankruptcy Court for the Eastern District of Texas (In re Wall007, LLC, Case No. 22-41049, Dkt. 1 (Bankr. E.D. Tex. Aug. 19, 2022); In re Wall009, LLC, Case No. 22-41113, Dkt. 1 (Bankr. E.D. Tex. Aug. 31, 2022); In re Wall010, LLC, Case No. 22-41125, Dkt. 1 (Bankr. E.D. Tex. Aug. 31, 2022); In re Wall011, LLC, Case No. 22-41114, Dkt. 1 (Bankr. E.D. Tex. Aug. 31, 2022); In re Wall012, LLC, Case No. 22-41135, Dkt. 1 (Bankr. E.D. Tex. Sept. 1, 2022); In re Wall016, LLC, Case No. 22-41136, Dkt. 1 (Bankr. E.D. Tex. Sept. 1, 2022); In re Wall017, LLC, Case No. 22-41137, Dkt. 1 (Bankr. E.D. Tex. Sept. 1, 2022); In re Wall018, LLC, Case No. 22-41176, Dkt. 1 (Bankr. E.D. Tex. Sept. 7, 2022); In re Wall019, LLC, Case No. 22-41177, Dkt. 1 (Bankr. E.D. Tex. Sept. 7, 2022); In re Seagoville Farms, LLC, Case No. 22-41181, Dkt. 1 (Bankr. E.D. Tex. Sept. 8, 2022). After SEC filed its complaint in the district court, in the Bankruptcy Proceeding, the U.S. Trustee moved for the bankruptcy cases to be dismissed. While that motion was pending, the district court entered an "order appointing receiver" that stayed the Bankruptcy Proceeding. The Fifth Circuit vacated that order because the district court "erred in both determining that the receivership was necessary and determining the scope of the entities covered by the receivership." On remand, the district court entered a new "order appointing receiver" that the Fifth Circuit affirmed, and the Supreme Court recently denied Barton's petition for certiorari seeking review of that order. Like the first receivership, the new receivership order provided for a stay of the Bankruptcy Proceeding. Several months later, and after the Fifth Circuit affirmed the district court's imposition of the new receivership order, the receiver filed a motion asking the district court to lift the stay of the Bankruptcy Proceeding "for the limited purpose of allowing the Bankruptcy Court to consider the U.S. Trustee's pending pre-receivership motion to dismiss those cases." Barton did not file an opposition to the receiver's motion, and the district court granted the motion, lifting the stay of the Bankruptcy Proceeding for the "limited purpose" of allowing the bankruptcy court to consider the motion to dismiss. The bankruptcy court then entered an "agreed order granting" the U.S. Trustee's motion to dismiss, which dismissed the Bankruptcy Proceeding. Barton filed a motion to reinstate the cases, which was dismissed without prejudice. Barton made no further filings and did not appeal from the court's dismissal order. The bankruptcy court closed the case. Barton appeals from the district court's order lifting the stay of the Bankruptcy Proceeding. Barton argues the Fifth Circuit has jurisdiction under: (1) 28 U.S.C. Sec. 1292(a)(1) "because the order modifies an existing injunction," (2) 28 U.S.C. Sec. 1292(a)(2) "because the order decides consequential steps toward winding up the receivership," and (3) the collateral order doctrine "because the order conclusively determines the federal forum" and "the loss of the bankruptcy forum is effectively unreviewable after final judgment." According to the panel, "His arguments lack merit. We have no jurisdiction under Sec. 1292(a)(1) because the order lifting the stay involved a receivership-related order. An order appointing a receiver that includes something in the nature of an injunction, such as the stay of litigation involved here, which stayed only proceedings related to the receivership, does not give this court jurisdiction under Sec. 1292(a)(1). We also have no jurisdiction under Sec. 1292(a)(2). The district court's order lifting the stay was administrative, and it did not involve appointing a receiver or refusing to take steps to accomplish the purposes of winding up the receivership." A copy of the Court's Opinion dated June 3, 2026, is available at http://urlcurt.com/u?l=SIUxKz About WALL007 LLC WALL007 LLC, a company in Carrollton, Texas, filed for Chapter 11 protection (Bankr. E.D. Texas Case No. 22-41049) on Aug. 19, 2022, listing $1 million to $10 million in both assets and liabilities. Tim Barton, president of the Debtor's managing member, signed the petition. Judge Brenda T. Rhoades oversees the case. Eric A. Liepins, P.C. is the Debtor's legal counsel. WASHINGTON MUTUAL: Ezell Mortgage Debt Not Discharged Under Plan ---------------------------------------------------------------- In the appeal styled JAMES EZELL, Appellant, v. JP MORGAN CHASE BANK N.A., et al., Appellees, Civ. No. 25-1164 (GBW) (D. Del.), the Hon. Gregory B. Williams of the U.S. District Court for the District of Delaware will affirm the dismissal orders issued in the bankruptcy case of James Ezell. Pro se appellant James Ezell ("Appellant") has filed the three appeals and numerous additional motions for relief in connection with his long history of bankruptcy filings seeking to forestall foreclosure on rental property that he owns in Ashbury Park, New Jersey (the "Property"). Millenium Trust Company, LLC asserts that it is the current holder of the Note and Mortgage relating to the Property. Appellant asserts that Washington Mutual, Inc. ("WMI") is the prior holder of the Note and Mortgage and that his mortgage obligations were somehow "discharged" pursuant to WMI's chapter 11 plan of reorganization (the "WMI Plan"), which was confirmed by the Bankruptcy Court on February 23, 2012, more than fourteen years ago. Appellant has appealed three Bankruptcy Court orders dismissing three separate proceedings, each of which Appellant commenced on procedurally and substantively improper grounds, based on his misreading of the WMI Plan and his misapprehension of bankruptcy law. On June 24, 2025, Appellant filed a purported involuntary chapter 7 petition against the trust (the "WMI Liquidating Trust") created pursuant to the WMI Plan. The petition was incorrect and deficient in several aspects. On June 24, 2025-the same day Appellant filed his chapter 7 petition and the purported involuntary petition against WMI Liquidating Trust-Appellant also filed a complaint initiating an adversary proceeding against JP Morgan Chase Bank N.A. and various other creditor parties ("Defendants") in the involuntary proceeding, apparently seeking declaratory and injunctive relief to prevent the exercise of creditor remedies against the Property. The Bankruptcy Court issued an order on July 24, 2025 dismissing the involuntary case (the "WMI Dismissal Order"). On July 28, 2025, Appellant filed a motion for reconsideration of the WMI Dismissal Order. The Bankruptcy Court's subsequent letter ruling (the "Letter Ruling") denied reconsideration, explaining, inter alia, that: (i) the involuntary petition did not meet "any of the material requirements set forth in 11 U.S.C. Sec. 303(b) to commence an involuntary case"; (ii) the putative debtor -- the WMI Liquidating Trust -- ceased to exist in 2019; and (iii) even if there were actions taken or rulings given in WMI's bankruptcy case, there is no basis alleged for any relief that could be obtained through the involuntary petition against the WMI Liquidating Trust. Accordingly, on September 4, 2025, the Bankruptcy Court issued its order denying reconsideration of the WMI Dismissal Order. On September 16, 2025, Appellant appealed the WMI Dismissal Order. On July 24, 2025, the Bankruptcy Court issued an order dismissing the adversary proceeding (the "Adversary Dismissal Order"). On July 28, 2025, Appellant filed a motion for reconsideration of the Adversary Dismissal Order. The Letter Ruling explains, inter alia, that: (i) the adversary proceeding was filed under the involuntary petition, which has been dismissed; and (ii) "since neither the Property nor Mr. Ezell are in Delaware it does not appear that this Court has the authority to grant any relief in the adversary proceeding. Accordingly, on September 4, 2025, the Bankruptcy Court issued an order denying Appellant's motion for reconsideration of the Adversary Dismissal Order. On September 16, 2025, Appellant appealed the Adversary Dismissal Order. Appellant's opening brief lists five issues on appeal, which, while not entirely clear, the Court construes as follows: (1) whether the Dismissal Orders were improperly entered "without notice or the ADA interactive process," Bankruptcy Rule 1017, and section 707(a) of the Bankruptcy Code; (2) whether the Dismissal Orders and Letter Ruling contravene sections 1141 and 524 of the Bankruptcy Code by disregarding the WMI Plan and discharge; (3) whether the Bankruptcy Court failed to issue findings of fact and conclusions of law under Bankruptcy Rule 7052; (4) whether the Bankruptcy Court erred by mischaracterizing Appellant's Rule 60(b)(4) motion as a motion for reconsideration and by applying the wrong legal standard; and (5) whether the "no Delaware connection" rationale "conflicts" with 28 U.S.C. Sec. 1334(e)(1). According to the District Court, the arguments raised on appeal are largely procedural and do not support the reversal of any of the Dismissal Orders nor do they entitle Appellant to relief. The Court says the findings and conclusions set forth in the Letter Ruling provide ample support for those dismissals. Appellant's motions for reconsideration failed to establish any valid reason why the Dismissal Orders should be deemed void under Federal Rule of Civil Procedure 60(b)(4). Appellant's many filings in this Court and the Bankruptcy Court are based on his belief that his "mortgage debt was discharged by law in the [WMI] bankruptcy and subsequently transferred through a series of assignments that are void ab initio in brazen violation of the automatic stay (11 U.S.C. Sec. 362) and the permanent discharge injunction (11 U.S.C. Sec. 1141) stemming from the WMI bankruptcy." Appellant also cites Bankruptcy Code sections 1141 (generally discharging the debtor from any debt that arose before the date of confirmation of the plan) and 524 (generally providing that a discharge granted to a debtor operates as an injunction). Appellant cites these cases and statutes in support of his position that the WMI plan discharged "pre-confirmation debts" -- which he apparently believes to include his own indebtedness under the Note and Mortgage, then held by WMI and later assigned to other parties. Judge Williams explains, "This is a misstatement of law, and the cases and statutes cited by Appellant do not advance his cause. In support of his prior emergency motions, Appellant attached the WMI Plan but pointed to no provision that relieved him of his debt obligations under the Note and Mortgage." Although not entirely clear, Appellant also appears to argue that "enforcement and interpretation" of the WMI plan and orders is within the jurisdiction of the Bankruptcy Court, and are not matters to be resolved "via collateral state actions." Indeed, the Bankruptcy Court retains jurisdiction to enforce its prior orders, including the order confirming the WMI Plan and the discharge. To that end, the Bankruptcy Court has denied Appellant's attempts to reopen WMI's chapter 11 cases because the WMI Plan does not support the relief Appellant seeks. Appellant does not explain why this ruling is incorrect or what purpose would be served. The District Court finds no error in the Bankruptcy Court's reasoning and no basis to disturb the Dismissal Orders. According the District Court ruled as follows: 1. The Bankruptcy Court's order dated July 24, 2025 (Bankr. No. 25-11209 (BLS) (the "WMI Dismissal Order") is affirmed. 2. The Bankruptcy Court's order dated July 23, 2025 (Bankr. No. 25-11210 (BLS) (the "Ezell Dismissal Order") is affirmed. 3. The Bankruptcy Court's order dated July 24, 2025 (Adv. No. 25-51041 (BLS), (the "Adversary Dismissal Order") is affirmed 4. Appellant's additional requests for relief are denied as having been filed in contravention of the Court's prior order and/or as moot because no hearing on the merits of the appeals was required. A copy of the Court's Memorandum dated June 1, 2026, is available at http://urlcurt.com/u?l=9sU3fi About Washington Mutual Based in Seattle, Washington, Washington Mutual Inc. -- http://www.wamu.com/-- was the holding company for Washington Mutual Bank as well as numerous non-bank subsidiaries. Washington Mutual Bank was taken over on Sept. 25, 2008, by U.S. government regulators. The next day, WaMu and its affiliate, WMI Investment Corp., filed separate petitions for Chapter 11 relief (Bankr. D. Del. 08-12229 and 08-12228, respectively). WaMu owned 100% of the equity in WMI Investment. When WaMu filed for protection from its creditors, it disclosed assets of $32,896,605,516 and debts of $8,167,022,695. WMI Investment estimated assets of $500 million to $1 billion with zero debts. WaMu was represented in the Chapter 11 case by Brian Rosen, Esq., at Weil, Gotshal & Manges LLP in New York City; Mark D. Collins, Esq., at Richards, Layton & Finger P.A. in Wilmington, Del.; and Peter Calamari, Esq., and David Elsberg, Esq., at Quinn Emanuel Urquhart Oliver & Hedges, LLP. The Debtor tapped Valuation Research Corporation as valuation service provider for certain assets. Fred S. Hodara, Esq., at Akin Gump Strauss Hauer & Fled LLP in New York, and David B. Stratton, Esq., at Pepper Hamilton LLP in Wilmington, Del., represented the Official Committee of Unsecured Creditors. Stephen D. Susman, Esq., at Susman Godfrey LLP and William P. Bowden, Esq., at Ashby & Geddes, P.A., represented the Equity Committee. The official committee of equity security holders also tapped BDO USA as its tax advisor. Stacey R. Friedman, Esq., at Sullivan & Cromwell LLP and Adam G. Landis, Esq., at Landis Rath & Cobb LLP in Wilmington, Del., represented JPMorgan Chase, which acquired the WaMu bank unit's assets prior to the Petition Date. Records filed Jan. 24, 2012, say that Washington Mutual Inc., former owner of the biggest U.S. bank to fail, has spent $232.8 million on bankruptcy professionals since filing its Chapter 11 case in September 2008. As reported in the Troubled Company Reporter on March 21, 2012, the Debtors disclosed that their Seventh Amended Joint Plan of Affiliated Debtors, as modified, and as confirmed by order, dated Feb. 23, 2012, became effective, marking the successful completion of the Chapter 11 restructuring process. WELLPATH HOLDINGS: Turner Loses Bid to Enforce Settlement Agreement ------------------------------------------------------------------- Chief Judge Matthew W. Brann of the U.S. District Court for the Middle District of Pennsylvania denied William D. Turner's motion to enforce the settlement agreement reached by the parties in the case captioned WILLIAM D. TURNER, Plaintiff, v. CORRECTION CARE SOLUTION, et al., Defendants, Case No. 4:18-cv-00361 (M.D. Pa.). Turner filed an amended 42 U.S.C. Sec. 1983 complaint alleging that Defendants violated his Eighth and Fourteenth Amendment rights by denying him adequate medical care with respect to his Hepatitis C. In April of 2024, the parties reached a settlement agreement that resolved the case, and this Court closed the matter. The deadline to consummate the settlement was postponed several times because of communications difficulties between Turner and his attorney related to Turner's incarceration. Eventually, Wellpath LLC (formerly Correct Care Solutions, LLC) filed a suggestion of bankruptcy, notifying the Court that it had entered into Chapter 11 bankruptcy proceedings. Accordingly, there was an automatic stay placed on the enforcement of any judgment obtained prior to the commencement of bankruptcy proceedings. In January of 2026, Turner filed a pro se motion to enforce the settlement agreement, asserting that Wellpath had exited bankruptcy and the settlement could now proceed. It is true that a final decree and order was entered in the underlying bankruptcy matter, but resolution of claims against Wellpath have not concluded. Turner, who filed a proof of claim in the bankruptcy matter, must seek redress for his claim through the bankruptcy case. Because Turner must seek compensation through the bankruptcy proceeding and trust, there is no basis upon which the Court may grant his motion to enforce the settlement agreement. A copy of the Court's Order dated June 3, 2026, is available at http://urlcurt.com/u?l=uEkN3m About Wellpath Holdings Wellpath Holdings, Inc., formerly known as CCS-CMGC Holdings, Inc., is a provider of medical and mental healthcare in jails, prisons, and inpatient and residential treatment facilities. Wellpath Holdings and its affiliates sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Texas Lead Case No. 24-90533) on Nov. 11, 2024. Timothy Dragelin, chief restructuring officer and chief financial officer, signed the petitions. At the time of the filing, the Debtors reported $1 billion to $10 billion in assets and liabilities. Judge Alfredo R. Perez oversees the cases. The Debtors tapped Marcus A. Helt, Esq., at McDermott Will & Emery, LLP, as bankruptcy counsel; FTI Consulting, Inc., as financial advisor; and Lazard Freres & Co., LLC and MTS Partners, LP as investment banker. The Bankruptcy Court confirmed the chapter 11 plan on May 1, 2025. WELLPATH HOLDINGS: Wins Bid to Dismiss Douglas Case --------------------------------------------------- Judge John F. Murphy of the U.S. District Court for the Eastern District of Pennsylvania will grant the motions to dismiss filed by Wellpath and other defendants in the case captioned as LAMAR DOUGLAS, Plaintiff, v. WELLPATH HOLDING, et al., Defendants, Case No. 25-cv-02905 (E.D. Pa.). Mr. Douglas's Complaint will be dismissed without prejudice, and he may file an amended complaint. Pro se Plaintiff Lamar Douglas, who is incarcerated at SCI Phoenix, commenced this civil action by filing a Complaint pursuant to 42 U.S.C. Sec. 1983, naming as Defendants: Laurel Harry, the Secretary of the Department of Corrections ("DOC"); Corrections Health Care Administrator Britney Huner; Nurse Supervisor Monique Savage; Wellpath, the DOC's medical contractor; Dr. Anthony Letizio, Wellpath's Medical Director at SCI Phoenix; and individuals identified by job title or as John/Jane Does. Currently before the Court are the Defendants' Motions to Dismiss Mr. Douglas's Complaint. Mr. Douglas contends that the delay in his medical treatment constitutes deliberate indifference to his medical needs in violation of his constitutional rights. He seeks compensatory and punitive damages in excess of $4 million, as well as an injunction directing that he be referred for his surgery and an examination and report by an independent medical facility. Although his Complaint is not entirely clear as to whether he intended to name both individual Defendants and the entities those individuals work for, the Court understands Mr. Douglas to have named the DOC, the SCI-Phoenix Medical Department, and the Department of General Services, as well as Defendants Huner, Savage, and Harry in their individual and official capacities (collectively, the "Commonwealth Defendants"). The Eleventh Amendment bars suits against a state and its agencies in federal court that seek monetary damages. However, the Eleventh Amendment does not bar suits for monetary damages brought under Section 1983 against state officials in their individual capacities. Accordingly, the Court will dismiss the claims against the DOC, the SCI-Phoenix Medical Department, and the Department of General Services, and will consider only claims against Huner, Savage, and Harry for damages in their individual capacities and for injunctive relief. Mr. Douglas names Wellpath, Dr. Letizio, and the unknown "Off-Site" Medical Director for Wellpath at the DOC Central Office as Defendants. He does not state the personal involvement of Letizio or the Off-Site Medical Director in his claims, and appears to name these Defendants because of their supposed supervisory positions. The Court finds because he cannot simply attribute his harms to "Wellpath" because of acts by unidentified Wellpath employees, and he does not plead that he was harmed by Wellpath's policies, he has not stated a claim to relief. Moreover, Wellpath was discharged from liability by the United States Bankruptcy Court for the Southern District of Texas, Houston Division, for claims seeking money damages that arose prior to November 11, 2024. As Letizio argues, Wellpath's approved Plan also includes a "Third-Party Release" relating to claims against current and former employees of Wellpath. Wellpath and Letizio move for dismissal of the claims against them based on the discharge in bankruptcy and the Third-Party Release. Accordingly, consistent with the terms of the Plan and the Third-Party Release, any claims against Wellpath and its employees for money damages arising before November 11, 2024, are dismissed without prejudice to Mr. Douglas pursuing any remedies available to him in the bankruptcy proceedings. However, Mr. Douglas may include in his amended complaint any claims against Wellpath and any of its employees that arose after November 11, 2024, or seek injunctive relief, if he is able to plead more facts to cure the defects regarding policies and personal involvement. A copy of the Court's Memorandum dated June 3, 2026, is available at http://urlcurt.com/u?l=ZA7aZPfrom 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. WESTVIEW BAPTIST: Voluntary Chapter 11 Case Summary --------------------------------------------------- Debtor: Westview Baptist Church Inc. 13301 NW 24th Avenue Miami FL 33167 Business Description: Westview Baptist Church Inc. is a nonprofit religious organization founded in 1960 and based in Miami, Florida. Operating at 13301 N.W. 24th Avenue, the church provides services including religious worship and congregational activities for its members. Chapter 11 Petition Date: June 4, 2026 Court: United States Bankruptcy Court Southern District of Florida Case No.: 26-17359 Judge: Hon. Corali Lopez-Castro Debtor's Counsel: Jamila Canty, Esq. THE CANTY LEGAL GROUP 1 East Broward Blvd., Suite 700 Fort Lauderdale, FL 33301 Tel: 954-995-2563 E-mail: canty@cantylegal.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $500,000 to $1 million The petition was signed by Patty Woods as president. The Debtor failed to attach a list of its 20 largest unsecured creditors to the petition. A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/7TJZLDQ/Westview_Baptist_Church_Inc__flsbke-26-17359__0001.0.pdf?mcid=tGE4TAMA WHITNEY OIL & GAS: Nichols Lawsuit to Remain in Federal Court ------------------------------------------------------------- Judge Nannette Jolivette Brown of the U.S. District Court for the Eastern District of Louisiana denied the motion of Kristin Nichols, on behalf of B.N. and G.N., and Lauren O'Neill, on behalf of N.N., to remand the case captioned as KRISTIN NICHOLS, ET AL. VERSUS JRON SERVICES, LLC, ET AL., CASE NO. 26-cv-00003-NJB-JVM, (E.D. La.) to the 25th Judicial District Court for the Parish of Plaquemines. On October 25 and 26, 2023, certain parties including, Whitney Oil & Gas, LLC ("Whitney") and Trimont Energy (GIB), LLC ("Trimont") filed petitions for relief in the Bankruptcy Court for the Eastern District of Louisiana under Chapter 11 of Title 11 of the United States Code. In the Chapter 11 bankruptcy cases, the debtors received approval to sell certain property of the debtors' estates to interested purchasers pursuant to Sections 363 and 365 of the Bankruptcy Code. On May 29, 2024, the Bankruptcy Court approved the sale of certain property from Trimont to a Spectrum AR, LLC. The sale included mineral leases, wells, facilities, and equipment related to the production and transportation of hydrocarbons located in the Garden Island Bay area ("GIB Assets"), as well as the assignment of related executory contracts to Spectrum AR, LLC. The Purchase and Sale Agreement ("PSA") for the GIB Assets maintained and created mutual obligations. Under the PSA, Trimont and Spectrum AR, LLC became obliged to indemnify each other if certain conditions were met. Following the sale of the GIB Assets, on August 17, 2024, Joshua Nichols died in a pipeline explosion that occurred while he was investigating a gas lift line leak. On November 10, 2025, Plaintiffs filed this action in the 25th Judicial District Court for the Parish of Plaquemines, asserting negligence claims against Defendants JRON Services, LLC, TPG, and Piranha Rentals, LLC. On January 2, 2026, TPG removed the case to this Court pursuant to 28 U.S.C. sec. 1334, alleging that the instant action concerns and relates to a Chapter 11 case that was administered before Judge Meredith Grabill of the United States Bankruptcy Court for the Eastern District of Louisiana entitled In re Whitney Oil & Gas, LLC, Case No. 23-11873 (the "Bankruptcy Case"). On February 9, 2026, Plaintiffs filed the motion to remand. Plaintiffs assert that the Court should remand this case because their claims do not "relate to" the Bankruptcy Case, because the removing defendants were not in privity with the bankruptcy debtor. Plaintiffs submit that TPG erroneously contends that the "related to" standard is satisfied, because there are "mutual indemnity obligations" between TPG and Spectrum OpCo, LLC. Plaintiffs aver that TPG's rationale is that the indemnity obligations between them could impact the Whitney estate if TPG makes an indemnity claim against Spectrum OpCo, LLC, who in turn passes that indemnity claim onto Whitney through the supposed asset purchase agreement that exists between them. However, Plaintiffs contend that Spectrum OpCo, LLC is a not a party to the Bankruptcy Case that this action is supposedly related to.21 Further, Plaintiffs assert that they believe the asset purchase agreement that TPG relies on is actually between Spectrum AR, LLC, which is a different entity than Spectrum OpCo, LLC, and Trimont. Accordingly, Plaintiffs contend that the asset purchase agreement between Trimont and Spectrum AR, LLC has no relation to the indemnity agreement between TPG and Spectrum OpCo, LLC. Therefore, Plaintiffs argue that the indemnity agreement cannot affect the bankruptcy estate, which should result in this Court remanding the case to state court. TPG opposes the motion to remand. TPG asserts that this Court should deny the motion to remand, because Plaintiffs' claims are "related to" the Bankruptcy Case. TPG clarifies that the indemnity agreement it relies on is within a Master Services Agreement (the "MSA"), executed by TPG and Spectrum OpCo, LLC. TPG contends that the indemnity obligations within the MSA are between TPG and Spectrum Group. TPG asserts that its mutual indemnification obligations also extend to Spectrum AR, LLC as a business entity under common control with Spectrum OpCo, LLC. Moreover, TPG avers that the asset purchase agreement between Spectrum AR, LLC and Trimont also includes a mutual indemnity clause which covers each party's "affiliates." Thus, TPG contends that if it is determined that Mr. Nichols's death was caused by the negligence of any of the defendants, the bankruptcy estate of Whitney will inevitably be impacted, because the entities are affiliated and mutually obligated to fulfill their respective indemnity obligations. Hence, TPG argues that the Court should deny the motion to remand because, Spectrum AR, LLC and Spectrum OpCo, LLC are affiliated and bound by the indemnity provisions, and the facts alleged in the petition are sufficient to raise the prospect of a post-petition indemnity obligation, flowing either from the Debtor's bankruptcy estate or from Spectrum affiliates to the Debtor. The Court finds that it has jurisdiction over this matter under 28 Sec. U.S.C. 1334(b). Judge Brown explains, "Under the PSA, Spectrum AR, LLC could become obligated to indemnify Whitney for Mr. Nichols death, which could then trigger the obligation under the MSA for TPG to indemnify Spectrum AR, LLC. Due to these indemnity agreements, the outcome of this litigation could conceivably affect the administration of the bankruptcy estates. The facts alleged in the Petition are sufficient to raise the prospect of a post-petition indemnity obligation, flowing from the debtor's bankruptcy estate, which would diminish the estate to the detriment of creditors, or from TPG to the debtor, which would increase the estate to the benefit of creditors. Because the facts alleged in the Petition give rise to an inference that Plaintiffs' claims will have a 'conceivable affect' on the debtors' bankruptcy cases, this Court has 'related to' jurisdiction over Plaintiffs' claims." A copy of the Court's Order & Reasons dated May 29, 2026, is available at http://urlcurt.com/u?l=LTwiyQfrom PacerMonitor.com. About Whitney Oil & Gas Whitney Oil & Gas, LLC operates in the oil and gas extraction industry. The company is based in Houston, Texas. Whitney Oil & Gas filed Chapter 11 petition (Bankr. E.D. La. Case No. 23-11873) on Oct. 26, 2023, with $1 million to $10 million in both assets and liabilities. Judge Meredith S. Grabill oversees the case. Douglas S. Draper, Esq., at Heller, Draper & Horn, LLC is the Debtor's legal counsel. WINTHROP STREET: Opposes Bid to Appoint Examiner ------------------------------------------------ Winthrop Street - Morra Solar, LLC asked the U.S. Bankruptcy Court for the District of Massachusetts to deny the request to appoint an examiner in its Chapter 11 case. Last month, the official administering the Winthrop Property Trust filed a motion to appoint an examiner, citing "legalistic bickering" between the trust and the company throughout the bankruptcy proceedings. Conner Verreaux, Esq., the company's attorney, said the trustee failed to provide sufficient facts to justify the appointment. "The motion seeks to institute a broad and vaguely-defined investigation of [Winthrop Street's] activities, yet it fails to demonstrate the need for such an investigation or any benefit that can be derived by it," Mr. Verreaux said in court papers. Mr. Verreaux said the trustee also failed to justify using company funds for an investigation by the examiner. "The estate has finite resources which it requires to fund its plan for the benefit of all creditors. The movant has not shown why those resources should be diverted to conduct an inquiry which appears to only benefit themselves," the attorney said. Mr. Verreaux denied any "legalistic bickering" between the trust and the company, saying the company made multiple attempts to resolve disputes but was rebuffed and has since limited communications with the trust. Counsel to Winthrop Property Trust: William J. Delaney, Esq. Lonardo Forte & Trudeau, LLP 2980 West Shore Road Warwick, RI 02886 (401)542-4100;(401)632-8987 (cell) About Winthrop Street - Morra Solar Winthrop Street - Morra Solar, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Mass. Case No. 25-11014) on May 18, 2025. In its petition, the Debtor reported assets of up to $50,000 and liabilities of between $1 million and $10 million. Honorable Bankruptcy Judge Christopher J. Panos handles the case. The Debtor is represented by D. Ethan Jeffery, Esq., and Conner B. Verreaux, Esq., at Murphy & King, Professional Corporation. WISER SOLUTIONS: Gets Final OK for $34.2M DIP Loan From Crestline ----------------------------------------------------------------- Wiser Solutions, Inc. and its affiliated debtors received final approval from the U.S. Bankruptcy Court for the Northern District of Texas, Dallas Division, to obtain post-petition financing to get through bankruptcy. The final order signed by Judge Scott Everett authorized the Debtors to borrow under a debtor-in-possession multi-draw term loan credit facility in an aggregate outstanding principal amount of up to $34.2 million, including the roll-up loans in an aggregate amount of $22.8 million. Crestline Direct Finance, L.P. serves as administrative agent under the DIP facility. As security for the DIP obligations, Crestline, for the benefit of itself and the lenders, was granted valid, non-avoidable and properly perfected security interests in and liens on all of the Debtors' assets. These DIP liens are senior to all pre-petition liens, subject and subordinate to the fee carveout. The DIP agent is also entitled to superpriority administrative expense claims against each of the Debtors, subject to the carveout. The final order also authorized the Debtors to use cash collateral and granted pre-bankruptcy secured creditors adequate protection through a valid, perfected replacement security interest in and lien on the collateral securing the DIP loan. These liens are subject to and subordinate to the DIP liens and the carveout. Under the final order, the Debtors must comply with the following milestones: (i) On or before June 15, the deadline imposed by the Debtors for the submission of bids in respect of the section 363 sale transaction must have occurred; (ii) On or before June 18, the Debtors must have held an auction in connection with the sale transaction in the event that the Debtors timely receive more than one qualified bid; (iii) On or before June 23, 2026, the court must have entered the sale order; and (iv) On or before June 30, the Debtors must have consummated the sale. The final DIP order is available at http://bankrupt.com/misc/WiserSolutions_FDIPOrder.pdf The court previously entered a second interim order authorizing the Debtors to borrow up to an aggregate interim amount of $14.8 million under the DIP facility. This amount consisted of $7.6 million previously authorized under the first interim order, an additional $2.4 million in new-money loans, and $4.8 million in roll-up loans, together with related interest, fees, and expenses. About Wiser Solutions Inc. Wiser Solutions, Inc. is a U.S.-based technology company specializing in retail analytics and pricing intelligence solutions for brands and retailers. Wiser Solutions Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Tex. Case No. 26-80002) on April 26, 2026. In its petition, the Debtor reports assets in the range of $50 million to $100 million and liabilities between $100 million and $500 million. Honorable Bankruptcy Judge Scott W. Everett handles the case. The Debtor is represented by Katharine Battaia Clark, Esq. of Thompson Coburn LLP. Crestline Direct Finance, L.P., as DIP agent, is represented by: Amanda S. Rush, Esq. JONES DAY 2727 N. Harwood St. Dallas, TX 75201 Telephone: (214) 220-3939 Facsimile: (214) 969-5100 asrush@jonesday.com -- and -- Gary L. Kaplan, Esq. JONES DAY 600 Brickell Avenue Miami, FL 33131 Telephone: (305) 714-9700 Facsimile: (305) 714-9799 gkaplan@jonesday.com -- and -- S. Christopher Cundra IV, Esq. JONES DAY 51 Louisiana Avenue NW Washington, DC 20001 Telephone: (202) 879-3939 Facsimile: (202) 626-1700 sccundra@jonesday.com [^] BOOK REVIEW: Bankruptcy in United States History ---------------------------------------------------- Author: Charles Warren Publisher: Beard Books Softcover: 195 pages List Price: $34.95 https://beardbooks.com/beardbooks/bankruptcy_in_united_states_history.html Written by a lawyer, this book on the history of bankruptcy in the United States from the latter 1700s, when the country first gained its independence, through the years of the Great Depression in the early 1930s has a legalistic slant. Warren, a Harvard-educated lawyer, gives some attention to social conditions of the day, the effects on individuals such as debtors, and the overall evolution of bankruptcy in the U.S., but he is mainly interested in the groundbreaking legal decisions concerning bankruptcy, and especially in major U.S. Supreme Court decisions. The book is an amplification of lectures the author gave in 1934 at the Law School of Northwestern University. As Warren explains, "This book is an attempt to place the subject [of bankruptcy] in its proper historical setting." The author proceeds to argue that American history has neglected the important economic and social subject of bankruptcy because "[h]istory and law have long been regarded as distinct subjects." By bringing the subjects of history and bankruptcy law together, Warren provides the first history of bankruptcy in the U.S. In doing so, he makes bankruptcy law a useful, adaptable, comprehensible, and beneficial resource. Warren was motivated to write the book after witnessing the effects of the Great Depression. He hoped that public officials, lawyers, economists, and general readers would not only be heartened, but also get practicable economic ideas, from the book's "sketch of the great depressions of the past, and the description of the attempts at legislative adjustment of the relations of debtor and creditor . . . bearing upon present conditions." Throughout U.S. history, major changes in bankruptcy laws have always been related to financial crises and periods of economic depression. During such times, states usually took the lead in revising bankruptcy laws. From time to time, the U.S. Congress also intervened to make changes in national bankruptcy and business law. In many cases, with both state and national legislation, the U.S. Supreme Court would have the final word on the constitutionality of changes in existing laws or on new laws. The phrase "to establish uniform laws upon the subject of bankruptcy . . . ." was included as a late addition to Article I, Section 8 of the U.S. Constitution. During times of financial crisis, Warren discerns three distinct, fundamental themes concerning bankruptcy law. In its earliest period, up until the 1820s, U.S. bankruptcy laws were modeled after English laws, which favored creditors. In the following years, up to the start of the Civil War in 1861, new bankruptcy laws favored debtors. The turmoil of the Civil War and the subsequent Southern Reconstruction, large inflows of immigrants, and the economic development of all parts of the country in the latter 1800s and early 1900s produced bankruptcy laws with the national interest in mind. This national perspective of bankruptcy law continues through today, sometimes favoring the creditor and sometimes the debtor depending on prevailing social conditions and political agendas. Bankruptcy in United States History is a readable book which both bankruptcy professionals and general readers will find informative on the subject of bankruptcy. After graduating from Harvard law school, Charles Warren (1868-1954) practiced law in Boston. He also served as Assistant Attorney General of the United States in Washington, D.C. ********* On Thursdays, the TCR delivers a list of recently filed Chapter 11 cases involving less than $1,000,000 in assets and liabilities delivered to nation's bankruptcy courts. The list includes links to freely downloadable images of these small-dollar petitions in Acrobat PDF format. Each Friday's edition of the TCR includes a review about a book of interest to troubled company professionals. All titles are available at your local bookstore or through Amazon.com. Go to http://www.bankrupt.com/books/to order any title today. Monthly Operating Reports are summarized in every Saturday edition of the TCR. The Sunday TCR delivers securitization rating news from the week then-ending. TCR subscribers have free access to our on-line news archive. Point your Web browser to http://TCRresources.bankrupt.com/and use the e-mail address to which your TCR is delivered to login. ********* S U B S C R I P T I O N I N F O R M A T I O N Troubled Company Reporter is a daily newsletter co-published by Bankruptcy Creditors Service, Inc., Fairless Hills, Pennsylvania, USA, and Beard Group, Inc., Philadelphia, Pa., USA. Randy Antoni, Jhonas Dampog, Marites Claro, Joy Agravante, Rousel Elaine Tumanda, Joel Anthony G. Lopez, Psyche A. Castillon, Ivy B. Magdadaro, Carlo Fernandez, Christopher G. Patalinghug, and Peter A. Chapman, Editors. Copyright 2026. All rights reserved. ISSN: 1520-9474. 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