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260615.mbx T R O U B L E D C O M P A N Y R E P O R T E R Monday, June 15, 2026, Vol. 30, No. 166 Headlines 111 LAWTON: U.S. Trustee's Motion to Dismiss Withdrawn 145 ALLEN LEGACY: Commences Chapter 11 Bankruptcy in New York 1942 WASHBURN: Seeks Chapter 11 Bankruptcy in New York 23ANDME HOLDINGS: Claims Chapter 11 Shields Calif. Data Breach Case 25350 PLEASANT: Chantilly Property Sale to Pleasant Valley Holdings 28-30 RIVERDALE: Hires BBG Inc. as Real Estate Appraiser 3 BROTHERS LAND: Case Summary & 20 Largest Unsecured Creditors 4US CORP: Seeks to Extend Plan Exclusivity to July 13 527 HOLDINGS: Commences Chapter 11 Bankruptcy in Florida 540 VAN: Claims to be Paid from Rental Income & Contributions 9250 BIG HORN: Seeks to Hire Michael Gabrielson CPA as Accountant 949 FAIR STREET: Cameron McCord Named Subchapter V Trustee 97 & 99 PROSPECT: Seeks Cash Collateral Access A NEW START: Seeks Approval to Hire E&M Accounting as Accountant ABC CHILDREN'S EYE: Gets Extension to Access Cash Collateral ACJK INC: Court Narrows Claims in OptumRX, Express Scripts Cases ADVANCED TREATMENT: Court Extends Cash Collateral Access to July 9 AGQUEST LLC: Gets Short Extension to Use Cash Collateral AIBH GROUP: Gets Interim OK to Use Cash Collateral AIBH GROUP: Seeks Interim Cash Collateral Access AIBH GROUP: Seeks to Hire Jones & Walden as Legal Counsel ALETHA HEALTH: Hires J.S. Held LLC as Financial Advisor ALETHA INC: Seeks to Hire Golden Goodrich LLP as Counsel ALL 4 HIM: Court OKs Deal on Cash Collateral Access ALL SOD NURSERY: Gets Final OK to Use Cash Collateral ALLBOUND CARRIER: Gets OK to Use Cash Collateral Until June 30 ALPHA BEDDING: Gets Final OK to Use Cash Collateral ALPINE CORP: Court OKs Continued Access to Cash Collateral AM CARRIER: Hires James G. Murphy Company as Auctioneer AMERICAN LOCATING: Seeks Cash Collateral Access ANGIE'S MOBILE: Employs Mark E. Koller CPA PC as Accountant APPLE TREE: Hire Grant Thornton LLP as Independent Auditor APPVION INC: Court Won't Establish Settlement Fairness Protections ARMADILLO DISTRIBUTION: Seeks Chapter 11 Bankruptcy in Florida ASHWOOD FOOD: Hires Shatz Schwartz and Fentin as Counsel AUTOMOTIVE OUTFITTERS: Hires Paul Reece Marr P.C. as Attorneys AZHAR CHAUDHARY: Ali, et al., Case to Remain in Bankruptcy Court BBBB GP: Seeks to Hire Shannon Lee Beatty LLP as Bankruptcy Counsel BECKY'S PET CARE: Seeks $75,000 DIP Loan from Houndry BEELAND PROPERTIES: Hearing Today on Bid to Use Cash Collateral BETTERWORK MEDIA: Hires Goldstein & McClintock LLLP as Counsel BKR LLC: Hires RHM Law LLP as General Bankruptcy Counsel BLUE MOUNTAIN: Hires Neeleman Law Group P.C. as Legal Counsel BLUE ROCK ASSOCIATES: Seeks Chapter 7 Bankruptcy in New York BLUEPRINT EAST: Hires Regional Bankruptcy Center of as Counsel BOKQUA LLC: To Sell Colorado Properties to Multiple Buyers BOUND LOGISTICS: Gets Extension to Access Cash Collateral BRAZAS CHICKEN: Gets OK to Use Cash Collateral Until June 24 BREASHEARS ROOFING: Case Summary & 16 Unsecured Creditors BREWSTER HEIGHTS: Taps Stretto Inc. as Claims and Balloting Agent BRIGHTVIEW LANDSCAPE: Moody's Rates New $738MM Sec. Term Loan 'B1' BRODY HOLDINGS: Files Emergency Bid to Use Cash Collateral BRODY HOLDINGS: Seeks to Hire Sarah Bishop CPA as Accountant BUBBLES & BARKS: Hires Neeleman Law Group P.C. as Legal Counsel BY THE BOOK: Hires FLP Law Group LLC as Bankruptcy Counsel BY THE BOOK: Seeks Cash Collateral Access C & P AUTO: Unsecureds Will Get 10% of Claims over 60 Months C & S ADKINS: Seeks Cash Collateral Access C & S MARKET: Seeks Cash Collateral Access CALLAHAN ENTERPRISES: Gets Final Court Nod to Use Cash Collateral CENTER FOR EMOTIONAL: Gets Extension to Use Cash Collateral CENTURY COMMUNITIES: Moody's Alters Outlook on Ba2 CFR to Negative CHAMPION HOME: Seeks Cash Collateral Access CHARLES EDWARD LINCOLN III: Court Tosses Rule 5011(d) Motion CHEESE SHOP: Files Emergency Bid to Use Cash Collateral CHOICE ELECTRIC: Gets Extension to Access Cash Collateral CIRCLE D TRUCK: Voluntary Chapter 11 Case Summary CLEARSIDE BIOMEDICAL: Wins Approval for $4MM Chapter 11 Asset Sale CLICKSPRING DESIGN: Taps Mueller Pye as Accounting Professional COLOSSUS ACQUIRECO: Moody's Rates New Sr. Secured Term Loan 'Ba1' COMMUNITY AUTOMOTIVE: Gets Final Court Nod to Use Cash Collateral COMPREHENSIVE HEALTHCARE: PCO Reports No Resident Complaints CONSTRUCTION PARTNERS: Moody's Ups CFR to Ba3 COREWEAVE INC: S&P Rates New $3.5BB Senior Unsecured Notes 'B' CRAFT CONSTRUCTION: Files Emergency Bid to Use Cash Collateral CUSTOM PET: Case Summary & 12 Unsecured Creditors D.A.R. CARRIER: Employs Modestas Law Offices as Counsel DAMIS HOLDINGS: Commences Chapter 11 Bankruptcy in New Jersey DEM REAL: Seeks Chapter 11 Bankruptcy in North Carolina DEMAR INSTALADORA: Gets U.S. Recognition of Mexican Bankruptcy Case DENTISTAR P.C.: Court Extends Cash Collateral Access to June 30 DGAT PRACTICES: Voluntary Chapter 11 Case Summary DOT AI: Explores Strategic Alternatives, Hires Cohen & Company DURANTE EQUIPMENT: Seeks to Hire Houston Roderman as Counsel DUSTED77 FINE: Gets Final OK to Use Cash Collateral DYNABODY LLC: Case Summary & 11 Unsecured Creditors EAST HEMPSTEAD: Seeks to Tap Michael L. Previto as Attorney EAST WEST MANUFACTURING: Moody's Affirms 'B3' CFR, Outlook Stable EASTSIDE COLLISION: Seeks to Hire Jones & Walden LLC as Counsel ECOSYSTEM RENEWAL: Hires NeunerPate as Special Counsel EEW AMERICAN: Inks $12.6MM Settlement with Landlord ELITE EQUIPMENT: Hires Lanak & Hanna P.C. as Special Counsel EMERALD TECHNOLOGIES: Moody's Alters Outlook on Caa2 CFR to Stable EMMA BUYER: Moody's Assigns B2 CFR Amid New LBO Financing ENGINEERING RESEARCH: Moody's Alters Outlook on B3 CFR to Negative EUCLID MASA OAK: Voluntary Chapter 11 Case Summary EVERGREEN BUILDING: Final Cash Collateral Hearing Set for June 16 F4 PHANTOM: Hires Michelotti & Associates as Bankruptcy Counsel FARMERS COOPERATIVE: Gets Extension to Access Cash Collateral FAT BRANDS: Updates Resid Claims Pay; Confirmation Hearing July 24 FLEXSHOPPER INC: Seeks Mediation to Resolve Ch. 11 Plan Dispute FREEDOM FOREVER: Committee Seeks to Hire Willkie Farr as Counsel FREEDOM FOREVER: Committee Seeks to Tap Blank Rome LLP as Counsel FTFM INC: Seeks Chapter 11 Bankruptcy in New York FUND FOR SANDY: Hires CAN-US Tax & Accounting as Accountant GABBY INVESTMENT: Seeks Subchapter V Bankruptcy in Massachusetts GABHALTAIS TEAGHLAIGH: Sept. 10 Hearing Set in Gill Adversary Case GLOBAL ENTERPRISE: Gets Extension to Access Cash Collateral GOGO INC: Fitch Assigns 'B' First-Time IDR, Outlook Stable GOHEALTH INC: Case Summary & 30 Largest Unsecured Creditors GOHEALTH INC: Deadline for Panel Questionnaires Set for June 15 GOHEALTH INC: Gets OK for Mid-July Chapter 11 Confirmation Hearing GRABOYES LLC: Case Summary & 20 Largest Unsecured Creditors GREYHOUND ARAMINGO: Seeks to Hire Ciardi Ciardi & Astin as Counsel GWG HOLDINGS: Trust Dissolution Deadlines Extended to Aug. 1, 2028 HANEY INC: Seeks Approval to Re-Employ Goering & Goering as Counsel HAYWARD INDUSTRIES: Moody's Ups CFR to Ba3, Outlook Stable HENNEPIN SCHOOLS: S&P Lowers Lease Revenue Bond Rating to 'B-' HIGH SIGN BREWING: Seeks Cash Collateral Access HIGHTOWER HOLDING: Moody's Affirms B3 CFR on Term Loan Add-on HOBBS & ASSOCIATES: Fitch Affirms 'B+' LongTerm IDR, Outlook Stable HOUSE4U MNGMNT: Taps Law Offices of Charles Wertman as Counsel HPC MOTORSPORTS: Hearing Today on Bid to Use Cash Collateral HRONIS INC: Conterra Wins Bid to Bifurcate, Advance Sale Hearing IKPM PET: Seeks to Hire The Fealy Law Firm PC as Attorney INFINITY CARE: No Resident Care Concern, 1st PCO Report Says INGENOVIS HEALTH: Moody's Ups CFR to 'Caa2', Outlook Stable INGLES PRODUCE: Court Extends Cash Collateral Access to July 9 INSPIRED HEALTHCARE: PCO Reports No Decline in Patient Care Quality INSPIRED HEALTHCARE: PCO Reports No Resident Care Complaints INSPIRED HEALTHCARE: U.S. Trustee Appoints Nancy Pitra as PCO INSULET CORPORATION: Moody's Alters Outlook on Ba2 CFR to Negative INTERNATIONAL LAND: Issues $385,000 Convertible Note and Warrant JADE PRESENTS: Case Summary & 20 Largest Unsecured Creditors JFY PROPERTIES: To Hire McNamee Hosea as Bankruptcy Counsel JTD ENTERPRISES: Court Extends Cash Collateral Access to July 31 KEEL LABS: Case Summary & 14 Unsecured Creditors KEY POINT ARKANSAS: Seeks Chapter 11 Bankruptcy in Arkansas KING'S ACADEMY: Court Extends Cash Collateral Access to July 2 KINGSBROOK MHC: Fannie Mae Wants M. Shapiro's Kassab as Receiver KIRKBRIDE LAND: Court Extends Cash Collateral Access to July 31 KNIGHT HEALTH: Moody's Appends 'LD' Designation to PDR KROSKOB BROS: Cash Collateral Hearing Set for June 16 LAKE COUNTY: Court Extends Cash Collateral Access to June 30 LAKEHURST AND BROADWAY: Court Won't Enforce Stay Relief Order LAUNDRY BAR: Gets Final OK to Use Cash Collateral LAVIE CARE: No Complaints at NC Facilities, 10th PCO Report Says LEESTMA MANAGEMENT: Court Extends Cash Collateral Access to July 9 LIKEWIZE CORP: Moody's Lowers CFR to 'Caa1', Outlook Negative LMD HOLDINGS: Affiliates Seek $1.36MM DIP Loan from SummitBridge LOCK 27 BREWING: Gets Final OK to Use Cash Collateral LRG BUILDER: Seeks to Hire David C. Johnston as Attorney LURIN REAL: Three Affiliates File Voluntary Chapter 11 Petitions M.K. WEEDEN: Hires High Country Realty as Real Estate Brokers MARELLI AUTOMOTIVE: Seeks to Amend DIP Loan Agreements MASA OAK: Seeks Chapter 11 Bankruptcy in California MASA OAK: Voluntary Chapter 11 Case Summary MAST TRUCKING: Court OKs Vehicle Sale at Auction MATTHEWS 350: Gets Interim OK to Use Cash Collateral Until July 28 MAZEL ON DEL: Seeks Chapter 7 Bankruptcy in New York MCGEACHY HOLDINGS: Gets Interim OK to Use Cash Collateral MCKISSOCK INVESTMENT: Moody's Alters Outlook on B3 CFR to Negative METALWORKING LUBRICANTS: Case Summary & 20 Unsecured Creditors MISS AMERICA: Judge Orders $2.2MM Penalty in $500MM Case MIYOSHI AMERICA: Committee Hires Caplin & Drysdale as Counsel MORA OAK: Court Extends Cash Collateral Access to July 6 MULBERRY ROW: Fannie Mae Wants Tarantino's Thomas as Receiver MY CAR WASH: Gets Extension to Access Cash Collateral NB ELEMENT: Seeks to Hire Robinson & Cole LLP as Counsel NEW HOPE: Seeks to Employ FTI Consulting as Financial Advisor NEWBURY POWER: Seeks to Sell Bridgeville Property at Auction NIED OWNERSHIP: Wins Bid to Shorten Chapter 11 Plan Notice Periods OLD REDFORD ACADEMY: S&P Lowers ICR to 'CC', Outlook Negative OLENOX INDUSTRIES: Delivers May Bitcoin Production Highlights OMNIQ CORP: Sees Strong Demand From $170 Billion Security Funding OPTIV PARENT: Moody's Alters Outlook on 'Caa2' CFR to Stable PALM VALLEY: Case Summary & 20 Largest Unsecured Creditors PARI & GERSHON: Scott Sackett Named Subchapter V Trustee PAWLUS DENTAL: To Sell Dental Practice Assets to West Haven Dental POINCIANA PERSONAL: Court Extends Cash Collateral Access to July 22 POPOVICH ENTERPRISES: Employs Roderick Linton Belfance as Counsel POWER LANE: Seeks to Hire David C. Johnston as Attorney PREMIUM EDGE: Files Emergency Bid to Use Cash Collateral PRINCE GLOBAL: Court Gives Green Light for Chapter 15 Petition PROOFPOINT INTERMEDIATE I: Fitch Affirms 'B' IDR, Outlook Stable PUERTO RICO: Bondholders Group Now Up to 20 Members, Dechert Says QUEENS MEDICAL: Arthur Peabody, Jr. Named PCO RAD DIVERSIFIED: Gets Extension to Use Cash Collateral RAD DIVERSIFIED: Seeks to Sell Philadelphia Properties at Auction RANGE IMPACT: Enters $10 Million Tacora Stock Purchase Pact READY ROOFING: Seeks to Hire Bryan K. Mickler as Attorney REVI EXPRESS: Employs Law Offices of Louis S. Robin as Counsel RMA CA: Hires Thomas B. Ure as General Bankruptcy Counsel ROOTED ENTERPRISE: Seeks Cash Collateral RTM LOGISTICS: Case Summary & 20 Largest Unsecured Creditors RUNITONETIME LLC: To Close 2 Washington Cardrooms in Summer RXO INC: S&P Affirms 'BB' ICR Following Review, Outlook Negative SAIG LAUNDRY: Gets Final OK to Use Cash Collateral SD FOOD MART: Case Summary & Eight Unsecured Creditors SEASHORE PROPERTIES: Gets Extension to Access Cash Collateral SHALEPUMPS LLC: Case Summary & 20 Largest Unsecured Creditors SHORT PAR 4: Daniel Etlinger Named Subchapter V Trustee SIFI NETWORKS: Deadline for Panel Questionnaires Set for June 15 SIMAD HOLDINGS: Voluntary Chapter 11 Case Summary SIMPLY INTERIOR: Case Summary & 30 Largest Unsecured Creditors SIMPLY INTERIOR: Deadline for Panel Questionnaires Set for June 15 SIMPLY INTERIOR: Secures Approval to Tap $15MM Chapter 11 Loan SKMGT PROPERTIES: Refinancing Proceeds & Contribution to Fund Plan SKYLARK HOTELS: Unsecureds Will Get 1.30% of Claims over 60 Months SLEEP NUMBER: Seeks to Sell Sleep Wellness Business at Auction SLEEP QUARTERS: To Sell Waxahachie Property to Bates Real Estate SLOAN SCHOOL: Hires Sturgill & Associates LLP as Accountant SMART COUNSELING: Gets Interim OK to Use Cash Collateral SMARTZ INC: Cash Collateral Hearing Set for June 16 SOUTHWEST FIRE: Court Extends Cash Collateral Access to June 30 SP TRANS: Robert Handler Named Subchapter V Trustee SPARHAWK TRUCKING: Warns Employees of Impending Mass Layoffs SPHERE 3D: Completes Cathedra Acquisition, Names New CEO SPINNAKER VERO: Files Emergency Bid to Use Cash Collateral SPIRIT AIRLINES: Shutdown Spurs Career Resets of Workers STARDUST POWER: Stockholders OK 2.6 Million-Share Plan Increase STINGRAY COMPUTE: Fitch Assigns 'BB-(EXP)' IDR, Outlook Stable STOLI GROUP: Trustee Gets Final OK to Use Cash Collateral STRATEGIC PROPERTY: Jennifer Lyday Named Subchapter V Trustee SUNDOWN AUDIO: Initiates Chapter 11 Bankruptcy in North Carolina SVK CAPITAL: Seeks Cash Collateral Access SWING ZONE: Seeks to Hire Kevin Smith as Accountant TAMKO BUILDING: S&P Rates New $415MM First-Lien Term Loan 'BB-' TEGETHOFF DEVELOPMENT: Case Summary & Three Unsecured Creditors TEGETHOFF DEVELOPMENT: Hires Carmody MacDonald as Legal Counsel TEGETHOFF DEVELOPMENT: Seeks to Hire Carmody MacDonald as Counsel TENNECO INC: S&P Downgrades ICR to 'B-', Alters Outlook to Stable THERAPEUTIC EXERCISE: Gets OK to Use Cash Collateral Until July 31 TIMIOS ENTERPRISES: Hires Gregory K. Stern P.C. as Legal Counsel TOYIN STREET: Hires Coldwell Banker as Real Estate Broker TOYIN STREET: Hires Mccardell Law Firm PLLC as Counsel TRANSOCEAN LTD: S&P Upgrades ICR to 'B-' on Improved Leverage TRAYJOCKEY ENTERPRISES: Seeks to Hire Molleur as Attorney TRI POINTE: Moody's Affirms 'Ba2' CFR, Outlook Remains Stable TROVE BREWING: Hires Sieling Law PLLC as Attorney UGA STREET: To Sell Tampa Property to Astacia Senate for $475K UNITY FABRICATION: Gets Final OK to Use Cash Collateral UPBOUND GROUP: Moody's Alters Outlook on 'Ba2' CFR to Stable VERACRUZ INVESTMENT: Hires Schreeder Wheeler & Flint as Counsel VERATICS INC: Court Extends Cash Collateral Access to July 15 VILLAGE HOMES: 6713 Lake Property Sale to Sherea Calderon OK'd WAIKOLOA VILLAGE: Final Cash Collateral Hearing Set for June 16 WAIPAHU LLC: Cash Collateral Hearing Set for June 16 WAIPAHU PROPERTIES: Final Cash Collateral Hearing Set for June 16 WATER'S EDGE: Court Sustains Objection to David Hirtle's Claim WELLMADE FLOOR: Unsecureds Will Get 100% in Liquidating Plan WELLPATH HOLDINGS: Wins Summary Judgment Bid in "Neyland" WHITEHALL MANOR: Gets Interim OK to Use Cash Collateral WILFONG HOSPITALITY: Files Emergency Bid to Use Cash Collateral WORLD'S BEST: To Retain Middlebrooks Shapiro as Legal Counsel XEROX HOLDINGS: S&P Cuts ICR to 'SD' on Below-Par Debt Repurchase ZOOMINFO TECHNOLOGIES: Moody's Alters Outlook on 'Ba3' CFR to Neg. ********* 111 LAWTON: U.S. Trustee's Motion to Dismiss Withdrawn ------------------------------------------------------ The emergency motion filed by William K. Harrington, the United States Trustee for Region 1, to dismiss the bankruptcy case of 111 Lawton LLC has been withdrawn on the record with prejudice. The Debtor claimed an interest in commercial real property located at 111 Lawton Avenue, Lynn, MA 01940. The U.S. Trustee emailed the Debtor's attorney requesting that the Debtor provide evidence of appropriate property and general liability insurance for the Property and the Debtor's operations within 48 hours. As of this writing, the Debtor has not done so. The U.S. Trustee argued that "cause" exists to dismiss the Debtor's chapter 11 case under 11 U.S.C. Sec. 1112(b)(4)(B) (gross mismanagement of the estate), (C) (failure to maintain appropriate insurance that poses a risk to the estate or to the public) and (H) (failure to provide information or attend meetings reasonably requested by the United States Trustee), because, without evidence of appropriate property and general liability insurance on Property, the estate is at unreasonable risk of loss. Dismissal is therefore in the best interests of creditors and the estate. The U.S. Trustee requested that the Court enter orders: 1) scheduling an emergency hearing on this motion under MLBR 9013-1(f); 2) dismissing the Debtor's chapter 11 case; and 3) granting him all such other and further legal and equitable relief to which he may be entitled. A copy of the United States Trustee's motion is available at https://urlcurt.com/u?l=YEXkdi from PacerMonitor.com. 111 Lawton LLC filed for Chapter 11 bankruptcy protection (Bankr. D. Mass. Case No. 26-11234) on May 27, 2026, listing under $1 million in both assets and liabilities. The Debtor is represented by Michael Walsh, Esq., at Walsh & Walsh LLP. 145 ALLEN LEGACY: Commences Chapter 11 Bankruptcy in New York ------------------------------------------------------------- On June 8, 2026, 145 Allen Legacy Ltd Liability Co. filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Eastern District of New York. According to court filings, the Debtor reports between $1 million and $10 million in debt owed to 1-49 creditors. A meeting of creditors filed by the Office of the United States Trustee under Section 341(a) to be held on July 6, 2026 at 03:00 PM at USA Toll-Free (888) 330-1716, USA Caller Paid/International Toll (713) 353-7024, Access Code 1165157. Chapter 11 Reorganization Plan, Disclosure Statement Due October 6, 2026. About 145 Allen Legacy Ltd Liability Co. 145 Allen Legacy Ltd Liability Co. is a limited liability company engaged in the ownership, management, and administration of business and investment assets, including real estate-related holdings. 145 Allen Legacy Ltd Liability Co. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-42816) on June 8, 2026. In its petition, the Debtor reports estimated assets of $1 million to $10 million and estimated liabilities of $1 million to $10 million. Honorable Bankruptcy Judge Jil Mazer-Marino handles the case. The Debtor is represented by Btzalel Hirschhorn, Esq. of Anderson Bowman, PLLC. 1942 WASHBURN: Seeks Chapter 11 Bankruptcy in New York ------------------------------------------------------ On June 5, 2026, 1942 Washburn 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 1-49 creditors. A meeting of creditors filed by the Office of the United States Trustee under 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. Deadline Set for Small Business Chapter 11 Plan and Disclosure Statement on Dec. 2, 2026. About 1942 Washburn LLC 1942 Washburn LLC is a single asset real estate company. 1942 Washburn LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-42773) 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. 23ANDME HOLDINGS: Claims Chapter 11 Shields Calif. Data Breach Case ------------------------------------------------------------------- Vince Sullivan of Law360 Bankruptcy Authority reports that a trust formed to administer 23andMe's Chapter 11 estate told a Missouri bankruptcy judge that a lawsuit filed by California's attorney general should not proceed because it is prohibited by the company's bankruptcy plan. The trust argued that the action attempts to relitigate issues already addressed during the reorganization. In its filing, the trust said the confirmed Chapter 11 plan contains provisions that release certain claims and bar future litigation related to pre-bankruptcy conduct. The trust maintains that California's case, which focuses on the company's handling of customer data following a cyberattack, falls within those restrictions. The trust has asked the bankruptcy court to enforce the plan and block the state court proceedings. The outcome could have significant implications for the interaction between bankruptcy protections and state regulatory enforcement actions involving consumer privacy and data security, the report states. About 23andMe Holding Co. 23andMe Holding Co. is a genetics-led consumer healthcare and biotechnology company in San Francisco, Calif. Through its direct-to-consumer genetic testing, 23andMe offers personalized insights into ancestry, genetic traits, and health risks. The company has developed a large database of genetic information from over 15 million customers, enabling it to provide health and carrier status reports and collaborate on genetic research for drug development. On the Web: http://www.23andme.com/ On March 23, 2025, 23andMe and 11 affiliated debtors each filed a voluntary petition for relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Mo. Lead Case No. 25-40976). 23andMe disclosed $277,422,000 in total assets against $214,702,000 in total liabilities as of Dec. 31, 2024. Paul, Weiss, Rifkind, Wharton & Garrison, LLP, Morgan, Lewis & Bockius, LLP and Carmody MacDonald, PC serve as legal counsel to the Debtors while Alvarez & Marsal North America, LLC serve as the restructuring advisor. The Debtors tapped Reevemark, LLC and Scale Strategy Operations, LLC as communications advisors and Kroll Restructuring Administration Services, LLC as claims agent. Lewis Rice LLC, Moelis & Company LLC, and Goodwin Procter LLP serve as special local counsel, investment banker, and legal advisor to the Special Committee of 23andMe's Board of Directors, respectively. Jerry Jensen, Acting U.S. Trustee for Region 13, appointed an official committee to represent unsecured creditors in the Debtors' Chapter 11 cases. The committee tapped Kelley Drye & Warren, LLP and Stinson, LLP as legal counsel and FTI Consulting, Inc. as financial advisor. 25350 PLEASANT: Chantilly Property Sale to Pleasant Valley Holdings ------------------------------------------------------------------- The U.S. Bankruptcy Court for the Eastern District of Virginia, Alexandria Division, has permitted 25350 Pleasant Valley LLC, to sell Property, free and clear of liens, claims, interests, and encumbrances. The Debtor's property is comprised of 175 and 180 situated at 25350 Pleasant Valley Road, Chantilly, Virginia 20152, together will all improvements and fixtures. The proposed purchaser of the Property is Pleasant Valley Holdings III LLC with a purchase price of $4,218,000.00. The Court has authorized the Debtor to sell the Property to Pleasant Valley Holdings. The Court acknowledged the consent by the Property's lienholders including Northwest Federal Credit Union, MainStreet Bank, and Epic at Dulles South Commercial Condominium Unit Owners Association. The Court held that the tenants occupying the Property shall pay -- or cause to be paid -- all real estate taxes, due and owing on the Property, at or before closing on the Contract. At closing, $40,500.00 of the proceeds shall be paid to the real estate agent for Pleasant Valley Holdings III, LLC (Sadiq Hafiz) with $35,500.00 refunded to the Buyer for application to allowable closing costs with any excess funds after payment of such closing funds to be refunded to Buyer, and this shall be reflected on the settlement statement. The administrative expense claim previously granted to the Buyer is waived and shall no longer constitute a valid obligation of the Debtor's estate. About 25350 Pleasant Valley Drive LLC 25350 Pleasant Valley Drive, LLC filed Chapter 11 bankruptcy petition (Bankr. E.D. Va. Case No. 23-11983) on Dec. 6, 2023, listing $500,001 to $1 million in both assets and liabilities. Judge Klinette H. Kindred presides over the case. The Debtor was represented by John P. Forest, II, Esq., in Fairfax, Virginia. The case was converted to Chapter 7 on April 19, 2024. 28-30 RIVERDALE: Hires BBG Inc. as Real Estate Appraiser -------------------------------------------------------- 28-30 Riverdale Avenue, LLC seeks approval from the U.S. Bankruptcy Court for the District of Massachusetts to employ BBG, Inc. as a real estate appraiser. The firm will provide three different valuations of the Property: (i) Property in its current condition, (ii) each of the two buildings on the Property separately, and (iii) the Property as Condominiums. This information will be necessary for the Debtor to propose the best plan for creditors and other parties-in-interest. The firm will be paid at $450 per hour. The firm will be paid a flat fee in the amount of $5,300. Mr. Wood disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Matthew Wood BBG, Inc. 100 Summer St., Ste. 2705 Boston, MA 02110 Tel: (617) 710-2200 Email: matthewwood@bbgres.com About 28-30 Riverdale Avenue 28-30 Riverdale Avenue, LLC is a single-asset real estate company that owns and manages an industrial property at 28-30 Riverdale Avenue. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Mass. Case No. 26-10558) on March 16, 2026. In the petition signed by Teresa Coppola-Jones, manager, the Debtor disclosed up to $10 million in both assets and liabilities. Kate E Nicholson, Esq., at Nicholson Devine, LLC, represents the Debtor as legal counsel. 3 BROTHERS LAND: Case Summary & 20 Largest Unsecured Creditors -------------------------------------------------------------- Debtor: 3 Brothers Land Solutions, Inc. 2075 Colony Heights Rd Goode, VA 24556-3152 Business Description: 3 Brothers Land Solutions, Inc., doing business as Hurst Landworks, is a Goode, Virginia-based forestry and land-management company founded in 2021. The company provides land clearing and grading, forestry mulching, vegetation management, invasive species control, timber and land-management services, and vegetative-waste grinding and disposal for residential, commercial and public-sector customers. Chapter 11 Petition Date: June 5, 2026 Court: United States Bankruptcy Court Western District of Virginia Case No.: 26-60743 Debtor's Counsel: David Cox, Esq. COX LAW GROUP 900 Lakeside Drive Lynchburg, VA 24501 E-mail: david@coxlawgroup.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by William Hurst as treasurer. https://www.pacermonitor.com/view/XFSKROI/3_Brothers_Land_Solutions_Inc__vawbke-26-60743__0001.0.pdf?mcid=tGE4TAMA 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/XFSKROI/3_Brothers_Land_Solutions_Inc__vawbke-26-60743__0001.0.pdf?mcid=tGE4TAMA 4US CORP: Seeks to Extend Plan Exclusivity to July 13 ----------------------------------------------------- 4US Corp Inc. asked the U.S. Bankruptcy Court for the Northern District of Illinois to extend its exclusivity periods to file a plan of reorganization and obtain acceptance thereof to July 13 and Sept. 14, 2026, respectively. The Debtor has worked diligently with the secured parties with respect to adequate protection payments. The Debtor explains that the deadline for the company to exclusively file a plan of reorganization in this case is June 2, 2026. The Debtor is working with its financial advisor and legal counsel to prepare a plan in this case. Due to the number of secured parties, the Debtor requires additional time to finalize the Plan and related financial projections and documents. This is the Debtor's first request to extend exclusivity. In addition, there is currently no bar date set in this case. The Debtor is requesting by separate motion that a bar date be set for August 7, 2026. The Debtor claims that given the number of secured parties and volume of collateral, cause exists for this Court to enter an Order extending the company's exclusive right to file a plan and disclosure statement and solicit acceptances for the plan. 4US Corp Inc. is represented by: Miriam Stein Granek, Esq. Gutnicki LLP 4711 Golf Road, Suite 200 Skokie, IL 60076 Telephone: (847) 745-6592 Email: mgranek@gutnicki.com About 4US Corp Inc. 4US Corp, Inc. operates as a transportation and logistics company, providing freight hauling services through ownership of commercial trucks and trailers, including Freightliner trucks and Wabash, Dorsey, Mac, Fontaine, Hyundai, and Eagle trailers. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 26-01936) on February 2, 2026. In the petition signed by Eli Malikovsky, president, the Debtor disclosed $3,118,000 in total assets and $9,253,165 in total liabilities. Judge Timothy A. Barnes oversees the case. The Debtor tapped David Freydin, Esq., at the Law Offices of David Freydin and Miriam Stein Granek, Esq., at Gutnicki LLP as counsel. 527 HOLDINGS: Commences Chapter 11 Bankruptcy in Florida -------------------------------------------------------- On June 8, 2026, 527 Holdings Group LLC filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Northern District of Florida. According to court filings, the Debtor reports between $1 million and $10 million in debt owed to 1-49 creditors. A meeting of creditors under Section 341(a) to be held on July 2, 2026 at 09:00 AM, CT, at/via with the U.S. Trustee by telephone at (888) 330-1716, Access Code 7738427. About 527 Holdings Group LLC 527 Holdings Group LLC is a privately held limited liability company engaged in business and investment operations, including the management and oversight of corporate assets. 527 Holdings Group LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-30608) on June 8, 2026. In its petition, the Debtor reports estimated assets of $1 million to $10 million and estimated liabilities of $1 million to $10 million. The Debtor is represented by Shiraz Ali Hosein, Esq. of Anchors Smith Grimsley. 540 VAN: Claims to be Paid from Rental Income & Contributions ------------------------------------------------------------- 540 Van, LLC filed with the U.S. Bankruptcy Court for the Central District of California a Disclosure Statement describing Plan of Reorganization dated June 1, 2026. The Debtor is a California limited liability company, and the owner of at least a 50% interest in two properties in San Bernardino County, 1101 W. Sixth Street, San Bernardino, CA 92411 (the "San Bernardino Property," and 18612 New Hampshire Street, Adelanto, CA 92301 (the "Adelanto Property") (collectively, the "SB Properties"). The Debtor's business is the purchase, development, rental and sale of residential and commercial real estate. Ahron Zilberstein and his wife, Vardit Zilberstein, are the sole Members of the Debtor. The SB Properties were co-owned by Jose Domingo Mendoza Chavez and Yolanda Arredondo. Chavez had funds to invest; Arredondo had good credit. Both of the SB Properties were originally purchased solely in the name of Arredondo. On December 23, 2020, both of the SB Properties were grant deeded by Arredondo to herself and Chavez as "husband and wife" as joint tenants. The Debtor commenced this bankruptcy case on March 2, 2026 to stop the foreclosures, so that arrangements could be made to cure loan arrearages, reinstate the loans, and resolve Arredondo's claims, consensually if possible, but otherwise, through Subchapter V and Chapter 11. Rental income from a tenant at the Adelanto Property in the sum of $700 per month, for two months (April and May 2026) has been received and deposited in the Debtor in Possession account the Adelanto Property. No other rental income or cash collateral has been received. Pending a stipulation and/or order, none of the cash collateral has been expended. This is a reorganizing plan. In other words, the Proponent seeks to accomplish payments under the Plan, commencing on the first day of the month at least 20 days following entry of a confirmation order ("Effective Date"). The Plan provides for Debtor to reorganize its affairs within this period (the "Term"). The term of this Plan is five years or less. All leases, if any, shall be deemed assumed on and as of the Effective Date. Class 5 consists of the Unsecured Claim of Jose Domingo Mendoza Chavez with a total amount of $26,000 or more. The Debtor will enter into an agreement with Chavez as to how much he is entitled to, or if no agreement can be reached, Debtor will file a motion to value his claim and/or otherwise have the Court determine how much he is entitled to. Class 5 is Impaired; claims in this class are entitled to vote on the Plan. This claim will be paid in full within two years of the Effective Date from net proceeds of a sale of one or both of the SB Properties and/or contributions of funds by Debtor's Members. Class 6 consists of the Unsecured Claim of So Cal. Gas Co. with a total amount of $1,000. This claim will be paid in full on or before the Effective Date from funds contributed by Debtor's Members. This Class is Unimpair ed; claims in this class are not entitled to vote on the Plan. Class 7 consists of Interest holders Ahron Zilberstein and Vardit Zilberstein, Debtor's Members. Interest holders will retain their interests. The plan will be funded by the following: Rental income and/or contributions from Debtor's Members. Debtor's Members will contribute any necessary funds to Debtor so that Debtor will have adequate cash and cash flow on hand at all times on and after the confirmation hearing to pay Debtor's debts as they become due, together with a reasonable reserve. To the extent either or both of the SB Properties remain or in the future become vacant, Debtor's partners will also contribute such additional funds as may be required, if any, to service debt and pay operating expenses. In addition, Debtor's Members will contribute such funds as may be required as of the Effective Date. Such funds would be contributed to Debtor as a capital contribution, with no obligation of the Debtor to repay. A full-text copy of the Disclosure Statement dated June 1, 2026 is available at https://urlcurt.com/u?l=Fhq0Ix from PacerMonitor.com at no charge. Counsel to the Debtor: Mark E. Goodfriend, Esq. LAW OFFICES OF MARK E. GOODFRIEND 16055 Ventura Blvd #800 Encino, CA 91436 Tel: (818) 783-8866 Fax: (818) 783-5445 Email: markgoodfriend@yahoo.com About 540 Van LLC 540 Van, LLC is a limited liability company engaged in business activities that may include real estate ownership, investment, or asset management. 540 Van, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Cal. Case No. 26-10433) on March 2, 2026. In its petition, the Debtor reports estimated assets between $100,001 and $1 million and estimated liabilities within the same range. Honorable Bankruptcy Judge Martin R. Barash handles the case. The Debtor is represented by Mark E. Goodfriend, Esq., of Law Offices Of Mark E. Goodfriend. 9250 BIG HORN: Seeks to Hire Michael Gabrielson CPA as Accountant ----------------------------------------------------------------- 9250 Big Horn Holdings, Inc. seeks approval from the U.S. Bankruptcy Court for the Eastern District of California to employ Michael Gabrielson CPA as accountant. The firm will prepare all required business income tax returns for the estate, including representing the estate with the various tax authorities. Michael Gabrielson, principal of the firm, will be paid at the rate of $485 per hour. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Mr. Gabrielson disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Michael Gabrielson, CPA 1605 School Street Moraga, CA 94556 Telephone: (925) 899-5798 About 9250 Big Horn Holdings 9250 Big Horn Holdings, Inc. in Elk Grove, CA, filed its voluntary petition for Chapter 11 protection (Bankr. E.D. Cal. Case No. 23-23996) on Nov. 7, 2023, listing as much as $1 million to $10 million in both assets and liabilities. Mahmoud Khattab as president, signed the petition. Judge Fredrick E Clement presides over the case. LAW OFFICES OF GABRIEL LIBERMAN, APC, serves as the Debtor's legal counsel. 949 FAIR STREET: Cameron McCord Named Subchapter V Trustee ---------------------------------------------------------- The Acting U.S. Trustee for Region 21 appointed Cameron McCord, Esq., at Jones & Walden, LLC, as Subchapter V trustee for 949 Fair Street, LLC. Ms. McCord 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. McCord declared that she is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Cameron McCord, Esq. Jones & Walden, LLC 699 Piedmont Avenue, NE Atlanta, GA 30308 Phone: (404) 564-9300 Fax: (404) 564-9301 Email: cmccord@joneswalden.com About 949 Fair Street LLC 949 Fair Street LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ga. Case No. 26-57299) on June 2, 2026, with up to $50,000 in assets and $100,001 to $500,000 in liabilities. 97 & 99 PROSPECT: Seeks Cash Collateral Access ---------------------------------------------- 97 & 99 Prospect, LLC asks the U.S. Bankruptcy Court for the Western District of New York for authority to use cash collateral and provide adequate protection. Stormfield SPV I, LLC holds or claims a security interest in the cash collateral, because it holds an assignment of rents in addition to a mortgage, security agreement, and fixture filing that secure financing provided to the Debtor around 2023. The Debtor is a privately owned real estate business based in Buffalo, New York. Its business involves identifying property owners facing time-sensitive situations and connecting them with buyers or investors capable of completing transactions outside the traditional real estate listing process. Stormfield is the only creditor with an interest in the Debtor's cash collateral. The Debtor argues that immediate access to cash collateral is essential to avoid serious harm to its operations. It states that rental income is needed to pay ordinary business expenses, including advertising costs, mortgage obligations, utilities, and other operational overhead. Without access to these funds, the Debtor contends it would be unable to maintain normal operations, potentially damaging relationships with suppliers and forcing a liquidation of assets at distressed values, ultimately reducing recoveries for all creditors. As adequate protection for Stormfield, the Debtor points to a substantial equity cushion in the collateral. The real estate securing Stormfield's claim is valued at approximately $640,000, while the debt owed is roughly $395,000, leaving an equity cushion of about $245,000. The Debtor argues that this excess value sufficiently protects the lender against any decline in collateral value during the bankruptcy case. In addition, the Debtor proposes granting replacement liens on the same types of property that secured Stormfield's prepetition claims. Stormfield has already consented to the continued use of cash collateral, largely because of the substantial equity cushion. The filing is intended to formalize that arrangement through a court order. The debtor maintains that continued use of rental proceeds will preserve and maximize the value of both the estate and the secured creditor's collateral while allowing the business to continue operating without interruption. A copy of the motion is available at https://urlcurt.com/u?l=EaNoQ7 from PacerMonitor.com. About 97 & 99 Prospect LLC 97 & 99 Prospect, LLC filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. W.D.N.Y. Case No. 26-10658) on May 22, 2026, with $500,001 to $1 million in assets and $100,001 to $500,000 in liabilities. Judge Carl L. Bucki presides over the case. Robert B. Gleichenhaus, Esq., at Gleichenhaus, Marchese & Weishaar, P.C. represents the Debtor as legal counsel. A NEW START: Seeks Approval to Hire E&M Accounting as Accountant ---------------------------------------------------------------- A New Start Primary Care, LLC and A New Start II, LLC seek approval from the U.S. Bankruptcy Court for the Western District of Kentucky to employ E&M Accounting, LLC to serve as their accountant. The firm will provide these services: (a) provide general bookkeeping and prepare monthly financial reports; (b) provide general accounting advice and services; (c) prepare tax returns; and (d) provide ongoing accounting support and financial reporting services as needed in the Chapter 11 cases. The firm will receive a $500 monthly flat fee per Debtor for bookkeeping and financial reporting services, a $300 hourly rate for tax preparation services, and a $250 hourly rate for other general accounting advice and services. E&M Accounting, LLC is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code, according to court filings. The firm can be reached at: Daniel Pate, CPA E&M Accounting, LLC 902 W. Everly Brothers Blvd. Central City, KY 42330 About A New Start Primary Care LLC Based in Central City, Kentucky, A New Start Primary Care, LLC and A New Start II, LLC operate affiliated outpatient healthcare providers focused on substance use disorder treatment and behavioral health care. The organizations provide medication-assisted treatment, counseling and case management for opioid use disorder in an outpatient clinical setting. The Debtors sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Ky. Lead Case No. 26-40292) on April 17, 2026. Timothy Dukes, member, president and chief executive officer, signed the petitions. At the time of the filing, A New Start Primary Care disclosed up to $50,000 in assets and $1 million to $10 million in liabilities while A New Start II listed $1 million to $10 million in both assets and liabilities. Judge Charles R. Merrill presides over the case. Heather M. Thacker, Esq., at Gartland Thacker DelCotto, PLLC represents the Debtors as legal counsel. ABC CHILDREN'S EYE: Gets Extension to Access Cash Collateral ------------------------------------------------------------ The U.S. Bankruptcy Court for the District of Arizona authorized ABC Children's Eye Specialists, P.C. to continue using cash collateral pursuant to its agreement with Sunflower Bank, N.A. The court entered a third stipulated order authorizing ABC to use the bank's cash collateral consistent with its operating budget and to deposit all cash collateral into segregated debtor-in-possession accounts, with detailed monthly financial reporting to the bank. Sunflower Bank holds a first-priority lien on substantially all of the Debtor's assets, including accounts receivable and other personal property, securing three loans originated in October 2021 with combined balances exceeding $873,000 as of the petition date. As adequate protection, Sunflower Bank will receive continuing replacement liens on post-petition cash collateral, maintaining the same priority as its pre-bankruptcy liens. In addition, Sunflower Bank will receive monthly payments equal to the contractual loan payments -- approximately $29,568.66 per month in total -- through August 15. The order remains effective nunc pro tunc to the filing date and will terminate on August 29, unless extended or earlier terminated upon default. All rights are expressly reserved, including Sunflower Bank's ability to seek additional protection or relief from the automatic stay. The third stipulated order is available at https://shorturl.at/P28Mh from PacerMonitor.com. About ABC Children's Eye Specialists PC ABC Children's Eye Specialists, PC is a healthcare business and professional corporation formed in 2002 in Arizona. ABC Children's Eye Specialists sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Ariz. Case No. 25-08546) on September 10, 2025, listing up to $10 million in both assets and liabilities. Brendan Cassidy, owner of ABC Children's Eye Specialists, signed the petition. Judge Scott H. Gan oversees the case. The Debtor tapped Grant L. Cartwright, Esq., at May Potenza Baran & Gillespie, P.C., as legal counsel; DR Thomas CPA, PLLC as financial advisor; Arrington Accounting Services, LLC as medical business consultant; and LeBaron & Carroll as insurance consultant. Sunflower Bank, N.A., as secured creditor, is represented by: Wade M. Burgeson, Esq. Engelman Berger, P.C. 2800 North Central Avenue, Suite 1200 Phoenix, AZ 85004 Phone: (602) 222-4989 Wmb@eblawyers.com ACJK INC: Court Narrows Claims in OptumRX, Express Scripts Cases ---------------------------------------------------------------- Judge Mary P. Gorman of the U.S. Bankruptcy Court for the Southern District of Illinois will grant in part and deny in part the motions to dismiss filed by defendants in the following adversary proceedings: 1. ACJK, Inc., Plaintiff, v. OptumRX, Inc., Defendant, Adv. No. 25-03011; and 2. ACJK, Inc. Plaintiff, v. Express Scripts, Inc., Defendant, Adv. No. 25-03012 The motions seek dismissal of the claims against the defendants pursuant to Federal Rule of Civil Procedure 12(b)(6) for failure to state a claim. ACJK, Inc. ("Debtor"), a corporation that operated a pharmacy in Granite City, Illinois, commenced its voluntary Chapter 11 case on January 30, 2023, by filing a bare-bones petition. The Debtor's schedules and other required documents were filed a month later. On Schedule D: Creditors Who Have Claims Secured by Property, the Debtor listed Express Scripts, Inc., OptumRX, Inc., and others as holders of claims in unknown amounts secured by the pharmacy's accounts receivable valued at $228,800. The debts were marked by the Debtor as being "disputed." Among the assets listed on Schedule A/B, the Debtor identified potential causes of action for breach of contract and misrepresentation against OptumRX, Express Scripts, and others of unknown values. On its Statement of Financial Affairs, the Debtor identified OptumRX and Express Scripts as recipients of prepetition transfers in unknown amounts described as "offset DIR fees from Debtor's accounts receivable." OptumRX and Express Scripts were similarly identified as having set off debts owed to them by taking unknown amounts from the Debtor's financial account without permission. Neither entity filed a proof of claim in the case. But several other creditors filed claims, including on account of unsecured prepetition debts. On January 29, 2025, the Debtor commenced an adversary proceeding against OptumRX, Express Scripts, and several other entities asserting causes of action against each for unauthorized postpetition transfers and constructively fraudulent prepetition transfers under federal and state law based on DIR Fees deducted from the Debtor's accounts receivable in the months and years surrounding the petition date. The Debtor filed a first amended complaint which asserted essentially the same causes of action against the same defendants. Several named defendants objected and asked the Court to strike the amended complaint. The Court ordered that the claims be severed so that there would be separate adversary proceedings against each defendant and further ordered the Debtor's attorney to pay the filing fee for each of the severed cases. The filing fees were paid, and the result was separate proceedings against each defendant all based on the same first amended complaint. Relevant to the present proceedings, Count I of the first amended complaint alleges that OptumRX and Express Scripts deducted DIR Fees in unknown amounts from the Debtor's accounts receivable after the petition date of January 30, 2023. Because the Debtor ceased operations on January 21, 2023, the Debtor alleges that such deductions must have been on account of prepetition claims and are therefore avoidable under Sec. 549(a). Count I further seeks an accounting and recovery of amounts avoided under Secs. 542(a) and 550(a). Counts VI and VII seek to avoid constructively fraudulent transfers to Express Scripts under Sec. 548(a)(1)(B) and 740 ILCS 160/5, respectively. Count VI alleges that, between January 31, 2021, and January 30, 2023, Express Scripts offset approximately $103,142.84 in DIR Fees from the Debtor's Accounts Receivable for obligations incurred by the Debtor within that period. The Debtor alleges that it received less than a reasonably equivalent value in exchange for the excessive DIR Fees collected and that it was insolvent at the time or made insolvent thereby. Count VI further alleges that Express Scripts was an insider of the Debtor as defined in the Bankruptcy Code. Count VII, in turn, alleges that Express Scripts offset approximately $136,362.47 in DIR Fees from the Debtor's Accounts Receivable between January 31, 2019, and January 30, 2023, on account of obligations incurred by the Debtor over the same period. The Debtor alleges it received less than a reasonably equivalent value for the described transfers and that the Debtor was insolvent on the date the allegedly fraudulent transfers were made and/or incurred or became insolvent as a result of such transfers. Counts XII and XIII similarly seek to avoid constructively fraudulent transfers to OptumRX under Sec. 548(a)(1)(B) and 740 ILCS 160/5, respectively. They make the same allegations against OptumRX that are set forth in Counts VI and VII against Express Scripts, differing only in the amounts of the alleged transfers. In that regard, Count XII alleges that OptumRX offset approximately $196,692.18 in DIR Fees in the two-year period ending on the petition date, and Count XIII alleges that OptumRX offset approximately $332,570.05 in DIR Fees in the four years preceding the bankruptcy. The motions to dismiss make three main arguments in support of dismissal. The first argument focuses on the nature of the transactions as setoffs or recoupment. Pointing to the Debtor's repeated use of the term "offset" to describe the alleged transfers, the Defendants argue that Counts I, VI/XII, and VII/XIII must be dismissed because a setoff is not a transfer as defined in the Bankruptcy Code and therefore not avoidable under Secs. 544, 548, or 549. The Defendants go one step further, contending that the alleged "offsets" are actually in the nature of recoupment and, in addition to not being subject to avoidance, are not subject to the automatic stay. The Defendants' second argument for dismissal focuses on Count I and its request for relief under Sec. 542. Their argument is twofold. They contend that, due to the postconfirmation status of the case and the Debtor's failure to preserve any claims under Sec. 542 through the confirmed plan, the bankruptcy estate and the Debtor's ability to assert such claims have been extinguished. And even if the Debtor could assert the claim, the Defendants argue that Sec. 542(a) does not provide a basis for recovery of postpetition transfers. The Debtor counters that the provisions of its confirmed plan did preserve the claims asserted against the Defendants but does not address whether Sec. 542(a) even provides a basis for relief. The Defendants' final argument for dismissal relates to Count VII against Express Scripts and Count XIII against OptumRX, both brought under 740 ILCS 160/5 of the Illinois Uniform Fraudulent Transfer Act ("IUFTA") and grounded in Sec. 544(b) of the Bankruptcy Code. According to the Defendants, Counts VII and XIII must be dismissed because the Debtor failed to allege the existence of a creditor against whom the transfer is voidable. The Court says the plan and disclosure statement language at issue in this case is clearly limited to causes of action based on prepetition events and claims. In specifying its intention to pursue prepetition causes of action it might have against the Defendants and their collection of DIR Fees, the Debtor defined the category of claims to be preserved such that those claims falling into the category were successfully retained to the exclusion of all others. The only reasonable interpretation of the plan's reference to prepetition causes of action is that it did not apply to postpetition causes of action. According to the Court, the Defendants are correct that the plan failed to preserve the postpetition claims in Count I for turnover and accounting under Sec. 542. And, although not argued by the Defendants, the same reasoning extends to the Debtor's other claims in Count I for avoidance and recovery of postpetition transfers under Secs. 549 and 550. The Court holds "Count I against both defendants will be dismissed because it is based on postpetition claims and transactions which the Debtor's confirmed plan plainly did not preserve for postconfirmation prosecution. Because the problems cannot be cured by amendment, the dismissal of Count I is with prejudice. The motions to dismiss are denied in all other respects. The proceedings will move forward on the remaining Counts VI and VII against Express Scripts and Counts XII and XIII against OptumRX." A copy of the Court's Opinion dated June 10, 2026, is available at https://urlcurt.com/u?l=PePLpk from PacerMonitor.com. About ACJK, Inc. ACJK Inc. d/b/a Medicap Pharmacy -- https://granitecity.medicap.com/ -- is a local pharmacy that offers services such as immunizations, medication therapy management, multi-dose packaging, medication synchronization, important health screenings, and expert care. ACJK Inc. filed a petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Ill. Case No. 23-30045) on January 30, 2023. In the petition filed by Mark Allen, manager, the Debtor reported assets and liabilities between $1 million and $10 million each. The case is overseen by Honorable Bankruptcy Judge Laura K. Grandy. The Debtor tapped Michael J Benson, Esq., at A Bankruptcy Law Firm, LLC as bankruptcy counsel and Mark Cuker, Esq., at Jacobs Law Group, PC as litigation counsel. ADVANCED TREATMENT: Court Extends Cash Collateral Access to July 9 ------------------------------------------------------------------ Advanced Treatment Technologies, Inc. received another extension from the U.S. Bankruptcy Court for the Middle District of North Carolina, Greensboro Division, to use cash collateral. The court on June 12 entered a second interim order authorizing the Debtor's use of cash collateral from May 22 to July 9 to pay the expenses set forth in its budget. The Debtor was initially allowed to access cash collateral under the court's May 29 interim order. The Internal Revenue Service holds a federal tax lien for unpaid corporate taxes and asserts a claim of approximately $452,726, although the secured portion of the claim is disputed. Meanwhile, two merchant cash advance lenders -- Bizfund, LLC and GH Kapital -- collectively claim roughly $860,000. As adequate protection, the IRS will be granted valid and continuing security interests in, and liens on, all post-petition accounts receivable and payment intangibles of the Debtor, with the same validity, priority and extent as the agency's pre-petition lien on the Debtor's personal property. Meanwhile, the MCA lenders will receive replacement liens on post-petition accounts receivable and payment intangibles. The second interim order preserves all parties' rights to challenge the validity, priority, extent, or characterization of asserted liens. The order is available at http://bankrupt.com/misc/AdvancedTreatment_2ICCOrder.pdf The next hearing is set for July 9. Objections must be received by the court no later than three business days prior to the hearing. Advanced Treatment Technologies employs seven workers and generates over $2 million in annual revenue but is currently facing severe liquidity constraints following its bankruptcy filing on May 22. Its available assets include approximately $20,000 in cash, about $60,000 in accounts receivable (including a $58,489 receivable from Lake Columbia Aeration expected imminently), an additional $40,000 owed by Fresh N Crisp under an existing contract, and various equipment and vehicles. About Advanced Treatment Technologies Inc. Advanced Treatment Technologies, Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. N.C. Case No. 26-10392) on May 22, 2026, with up to $500,000 in assets and up to $10 million in liabilities. Charles R. Hayes, president of Advanced Treatment Technologies, signed the petition. Judge Lena M. James oversees the case. Clint Morse, Esq., at Brooks, Pierce, McLendon, Humphrey & Leonard, LLP, represents the Debtor as legal counsel. Ashley Rusher serves as Subchapter V trustee for the Debtor. AGQUEST LLC: Gets Short Extension to Use Cash Collateral -------------------------------------------------------- The U.S. Bankruptcy Court for the Eastern District of California granted AgQuest, LLC and its affiliated debtors a six-day extension to use cash collateral. The court on June 12 authorized the Debtors to use their cash collateral through June 17 to fund their operations under an approved budget. The Debtors were initially permitted to use cash collateral from May 21 through June 10. The Debtors' cash collateral consists of proceeds from crops receivable and sales of farm products. AgWest Farm Credit, the secured creditor, asserts liens on the cash collateral. Under the court's June 12 order, AgWest is granted adequate protection through a replacement lien on the Debtors' pre-bankruptcy and post-petition assets, with the same validity, priority, and extent as its pre-bankruptcy lien. The court has not yet determined whether The Nursery Company has a right of setoff against the Debtors' 2025 almond crop held by The Almond Company. The next hearing is scheduled for June 16. The order is available at http://bankrupt.com/misc/AgQuest_0612ICCOrder.pdf About AgQuest LLC AgQuest, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Cal. Case No. 26-12350) on May 21, 2026, with $1 million to $10 million in assets and $50 million to $100 million in liabilities. Judge Hon. Jennifer E Niemann oversees the case. The Debtor is represented by: Riley C. Walter, Esq. Ian J. Quinn, Esq. Wanger Jones Helsley, PC 265 E. River Park Circle, Suite 310 Fresno, CA 93720 Telephone: (559) 490-0949 rwalter@wjhattorneys.com iquinn@wjhattorneys.com AIBH GROUP: Gets Interim OK to Use Cash Collateral -------------------------------------------------- AIBH Group, Inc. received interim approval from the U.S. Bankruptcy Court for the Northern District of Georgia, Atlanta Division, to use cash collateral. The court authorized the Debtor to use cash collateral generated by its business in accordance with an approved budget. SuperiorPRO may vary aggregate budgeted expenditures by up to 15% and carry forward unused budget amounts. The order also permits payment of actual amounts owed to utilities, taxing authorities, insurance providers, and commission-based employees. Additionally, customers and contract counterparties are directed to continue paying accounts receivable directly to the debtor despite any competing demands from creditors. The Debtor projects total operational expenses of $179,070.43 for the period from June 1 to 22. As adequate protection for creditors that may claim interests in the cash collateral—including the U.S. Small Business Administration, Itria Ventures, Headway Capital, and entities represented by CT Corporation System and Corporate Service Company—the court granted replacement liens on post-petition assets of the same type and priority as any valid prepetition liens. These replacement liens protect creditors against any decline in the value of their collateral resulting from the debtor’s use of cash collateral, while excluding avoidance actions and related bankruptcy claims. The interim order remains effective until the continued hearing scheduled for June 23. The deadline for filing objections is on June 17. 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 filed a petition under Chapter 11, Subchapter V of the 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. Tamara Miles Ogier, Esq., at Ogier, Rothschild & Rosenfeld, PC serves as Subchapter V trustee. Leslie M. Pineyro, Esq., at Jones And Walden, LLC represents the Debtor as legal counsel. AIBH GROUP: Seeks Interim Cash Collateral Access ------------------------------------------------ AIBH Group, Inc. d/b/a SuperiorPRO asks the U.S. Bankruptcy Court for the Northern District of Georgia, Atlanta Division, for authority to use cash collateral and provide adequate protection, on an interim basis. The Debtor recently completed a corporate restructuring in which SuperiorPRO, LLC merged into AIBH Group, Inc., with the surviving entity now operating the combined business; however, several pre- and post-merger financing arrangements continue to list the entities separately, creating overlapping potential secured claims. The Debtor identifies multiple parties that may hold blanket security interests in its cash and other assets, including the Small Business Administration and several UCC filers acting as representatives for financing entities such as CT Corporation System and Corporation Service Company, with liens filed across 2020–2025 in various Georgia counties. The Debtor states it is not aware of other secured claims beyond those identified. The Debtor requests authority to use cash collateral strictly in accordance with the budget, with limited variance flexibility, in order to pay essential operating expenses such as insurance, taxes, and commission-based compensation. The Debtor argues that uninterrupted access to cash is necessary to preserve going-concern value and avoid immediate and irreparable harm to the estate, noting that continued operations are critical to maintaining business value and maximizing creditor recovery. A copy of the motion is available at https://urlcurt.com/u?l=z1YSxD from PacerMonitor.com. About AIBH Group, Inc. AIBH Group, Inc. is a Georgia-based exterior home improvement company providing services such as roofing, siding, window and door replacement, gutters, and exterior painting. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ga. Case No. 26-57250) on June 1, 2026. In the petition signed by Brandon Hutton, chief executive officer, the Debtor disclosed up to $50,000 in assets and up to $10 million in liabilities. Leslie Pineyro, Esq., at Jones & Walden LLC, oversees the case. AIBH GROUP: Seeks to Hire Jones & Walden as Legal Counsel --------------------------------------------------------- AIBH Group, Inc. d/b/a SuperiorPRO seeks approval from the United States Bankruptcy Court for the Northern District of Georgia to employ Jones & Walden LLC as its legal counsel. The firm will provide these services: (a) preparing pleadings and applications; (b) conducting examination; (c) advising the Debtor of its rights, duties and obligations as a debtor-in-possession; (d) consulting with and representing the Debtor with respect to a Chapter 11 plan; (e) performing legal services incidental and necessary to the day-to-day operations of the Debtor's business, including institution and prosecution of necessary legal proceedings and providing general business legal advice and assistance; and (f) taking any and all other action incident to the proper preservation and administration of the Debtor’s estate and business. Jones & Walden LLC will be compensated at hourly rates of $225 to $500 for attorneys and $150 to $250 for paralegals and law clerks, subject to adjustment from time to time and approval of the Court. Jones & Walden LLC is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code, and has disclosed that it holds no adverse interest to the Debtor, is not a creditor, and has no disqualifying connections other than certain disclosed professional relationships involving Subchapter V trustee panel participation, according to court filings. The firm can be reached at: Leslie M. Pineyro, Esq. JONES & WALDEN LLC 699 Piedmont Avenue, NE Atlanta, GA 30308 Telephone: (404) 564-9300 E-mail: LPineyro@joneswalden.com 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. ALETHA HEALTH: Hires J.S. Held LLC as Financial Advisor ------------------------------------------------------- Aletha Inc. dba Aletha Health seeks approval from the U.S. Bankruptcy Court for the Northern District of California to hire J.S. Held LLC to serve as financial advisor. The firm will provide these services: (a) review the ongoing financial condition and viability of the Company's business plan, liquidity, and staffing requirements; (b) assist the Company in quantifying the need for additional capital and identify sources of capital funding; (c) assist the Company with treasury and liquidity management, and the development of financial projections; (d) assist the Company with the development of a strategic turnaround plan to address cost reductions and focus on margin improvements; (e) communicate with the Company's lenders and creditors, including the Merchant Cash Advance providers, and assist the Company in preparing for and making presentations at meetings with representatives of its secured or unsecured creditors if necessary; (f) interface with customers and vendors relationships and oversee communications, including meeting with customers and vendors as appropriate; (g) provide advice and assistance to senior management on decisions regarding management and operation of the Borrowers day-to-day business; (h) coordinate with the Company's attorneys and other professionals to ensure that there is no duplication of effort; (i) in conjunction with the Company's senior management, assist with the preparation and execution of Chapter 11 exit strategies, including but not limited to a filing Plan and Disclosure Statement or pursuing 363 sale(s); (j) assist the Company with the preparation of Monthly Operating Reports and other bankruptcy reporting, as needed; and (k) perform other duties as mutually agreed upon by the Board, Company, and J.S. Held. J.S. Held LLC will receive hourly rates ranging from $125 to $1,600 depending on the professional performing the services. The Debtor anticipates that Quintin Brown will bill at $595 per hour, Byron Sproule at $550 per hour, and Cole Rasmussen at $375 per hour. J.S. Held LLC is a "disinterested person" within the meaning of Sections 327(a) and 101(14) of the Bankruptcy Code, according to court filings. The firm can be reached at: JS Held US Lockbox P.O. Box 23368 New York, NY 10087-3368 About Aletha Inc. Aletha Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Cal. Case No. 26-40950) on May 4, 2026. In the petition signed by Christine Anie, founder and sole director, the Debtor disclosed up to $1 million in assets and up to $10 million in both assets and liabilities. Judge Hannah L. Blumenstiel oversees the case. Jeannie Kim, Esq., at Golden Goodrich LLP, represents the Debtor as legal counsel. ALETHA INC: Seeks to Hire Golden Goodrich LLP as Counsel -------------------------------------------------------- Aletha Inc. dba Aletha Health seeks approval from the U.S. Bankruptcy Court for the Northern District of California to employ Golden Goodrich LLP as counsel. The firm will provide these services: a. advise the Debtor with respect to the requirements and provisions of the Bankruptcy Code, Federal Rules of Bankruptcy Procedure, Local Bankruptcy Rules, U.S. Trustee Guidelines, and other applicable requirements which may affect the Debtor; b. assist the Debtor in preparing and filing Schedules and Statement of Financial Affairs, complying with and fulfilling U.S. Trustee requirements, complying with and fulfilling the requirements of the Bankruptcy Code and preparing other pleadings and documents as may be required after the initiation of a Chapter 11 case; c. represent the Debtor at the Initial Debtor Interview and the first meeting of creditors under Bankruptcy Code 341(a), and any continuances thereof; d. assist the Debtor in identifying and, to the extent necessary, obtaining Court approval of the employment of a financial advisor and any other professional necessary for the Debtor to complete this bankruptcy case; e. assist the Debtor in negotiations with creditors and other parties-in interest; f. assist the Debtor in the preparation and formulation of a Chapter 11 plan, and confirmation of such a plan; g. advise the Debtor concerning the rights and remedies of the estate and of the Debtor regarding adversary proceedings which may be removed to, or initiated in, the Bankruptcy Court, and assist the Debtor, if appropriate, in retaining special counsel to litigate such adversary proceedings; h. prepare all motions, applications, answers, orders, reports, and papers on behalf of the Debtor that are necessary to the administration of the Case; i. represent the Debtor in any proceeding or hearing in the Bankruptcy Court in any action where the rights of the estate or the Debtor may be litigated, or affected; and j. otherwise provide those services to the Debtor as are generally provided by general insolvency counsel to a debtor and debtor-in-possession in a Chapter 11 case. The firm will be paid at these rates: Jeffrey I. Golden $850 per hour Jeannie Kim $700 per hour On or about April 8, 2026, the firm received $50,000 retainer from the Debtor, of which $27,935 was applied to prepetition services and expenses, leaving a balance of $22,065. In addition, the firm will seek reimbursement for its out-of-pocket expenses. Ms. Kim disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Jeannie Kim, Esq. Golden Goodrich LLP 3070 Bristol St., Suite 640 Costa Mesa, CA 92626 Telephone (714) 966-1000 Facsimile (714) 966-1002 Email: jkim@go2.law About Aletha Inc. Aletha Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Cal. Case No. 26-40950) on May 4, 2026. In the petition signed by Christine Anie, founder and sole director, the Debtor disclosed up to $1 million in assets and up to $10 million in both assets and liabilities. Jeannie Kim, Esq., at Golden Goodrich LLP, represents the Debtor as legal counsel. ALL 4 HIM: Court OKs Deal on Cash Collateral Access --------------------------------------------------- All 4 Him, LLC received final approval from the U.S. Bankruptcy Court for the Western District of Kentucky, Louisville Division, to use cash collateral through July 21 and provide adequate protection in accordance with its agreement with the U.S. Small Business Administration. In the agreed order, the court acknowledged that the Debtor had provided sufficient information showing that various creditors claim interests in the cash collateral, although the extent, validity, and priority of those interests remain subject to further investigation and proof. The court also noted that the debtor had complied with prior interim cash collateral orders by depositing $5,000 with its bankruptcy counsel, Kaplan Johnson Abate & Bird LLP, as required. A central finding of the court was that continued access to cash collateral is essential to the Debtor's ability to operate its business and preserve the going-concern value of the estate. The court concluded that without the ability to use cash collateral, the Debtor would be unable to continue operations and the value of its assets would deteriorate. As a result, the court determined that the requested relief was necessary to prevent immediate and irreparable harm to the bankruptcy estate and therefore justified entry of a final cash collateral order. Under the agreed order, All 4 Him is authorized to use cash collateral in the ordinary course of business through July 21. The Debtor may seek an extension if circumstances warrant, such as a delay in confirmation of its Chapter 11 plan, although any further use of cash collateral remains subject to the requirements of 11 U.S.C. section 363(c)(2). During the approved period, the Debtor may use cash collateral to pay ordinary post-petition operating expenses, including trade payables, insurance premiums, taxes, utilities and any required adequate assurance payments, compensation obligations, administrative expenses, and any adequate protection payments authorized by court order. As adequate protection for creditors claiming interests in the cash collateral, the court granted those creditors replacement liens on post-petition property. These replacement liens mirror the creditors' prepetition rights and extend to post-petition property that is similar to or traceable from their original collateral, including proceeds and products of that collateral. The liens secure the amount of cash collateral actually used by the Debtor during both the interim and final authorization periods. Tthereplacement liens are deemed automatically valid, perfected, and enforceable as of the petition date without the need for additional filings, financing statements, security agreements, or court orders. The order also establishes a professional fee carve-out designed to ensure payment of estate professionals. Up to $15,000 may be used to pay unpaid compensation and expense reimbursements approved under 11 U.S.C. section 330(a). To fund this carve-out, the debtor must deposit $5,000 with KJAB for December 2026 and $2,000 per month thereafter through the authorized cash collateral period. These funds are to be maintained in escrow pursuant to the engagement agreement between the debtor and its counsel and must be disclosed in the Debtor's monthly operating reports. The court further clarified that the replacement liens granted under the order do not prime or take priority over any pre-existing liens or security interests held by other parties. The debtor is also required to maintain adequate insurance coverage on its assets throughout the case. Additionally, even if the final order is later modified, vacated, or stayed, the validity of liens and protections granted to cash collateral creditors for funds already used under the order will remain intact. Finally, except where expressly modified by the final order, the provisions of the prior interim cash collateral orders remain in full force and effect. The order is available at http://bankrupt.com/misc/All4Him_FCCOrder.pdf About All 4 Him LLC All 4 Him LLC owns a single-family home at 131 Laurel Dr, Bardstown, KY 40004. All 4 Him LLC sought relief under Subchapter V o Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Ky. Case No. 25-32491) on October 14, 2025. In its petition, the Debtor reports estimated assets between $100,000 and $500,000 and estimated liabilities between $1 million and $10 million. Honorable Bankruptcy Judge Charles R. Merrill handles the case. The Debtor is represented by Charity S. Bird, Esq., at Kaplan Johnson Abate & Bird, LLP. ALL SOD NURSERY: Gets Final OK to Use Cash Collateral ----------------------------------------------------- All Sod Nursery, Inc. received final approval from the U.S. Bankruptcy Court for the Middle District of Florida, Fort Myers Division, to use cash collateral. The sixth and final order signed by Judge Luis Ernesto Rivera II authorized the Debtor to use cash collateral to pay the amounts expressly authorized by the court, including Subchapter V trustee interim compensation; the expenses set forth on its 13-week budget; and additional amounts subject to approval by secured creditors. This authorization will continue until further order of the court. The budget projects total operational expenses of $220,281.27. As adequate protection, secured creditors will be granted replacement liens, with the same priority as their pre-bankruptcy liens. Additional safeguards include insurance coverage and access to records and premises upon notice. The order is without prejudice to lien challenges or future modification requests and is immediately effective without the Rule 6004(h) 14-day stay. A copy of the court's order and the Debtor's budget is available at http://urlcurt.com/u?l=mvoezMfrom PacerMonitor.com. All Sod Nursery has identified these creditors that may assert perfected, pre-bankruptcy security interests in the cash collateral: CashFloIt LLC, DME Capital LLC/Apollo Funding, and the U.S. Small Business Administration. These creditors perfected their security interests via UCC-1 financing statements in the Florida Secured Transaction Registry. The SBA claims it is owed $994,314.97. About All Sod Nursery Inc. All Sod Nursery Inc., a company based in Naples, Florida, supplies premium sod and plants for pickup or delivery in the local market. Established in 2012, this family-owned and operated business operates within the retail nursery and garden-supply industry, serving homeowners and commercial landscapers alike. All Sod Nursery filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. M.D. Fla. Case No. 25-02172) on October 31, 2025, listing between $100,000 and $500,000 in assets and between $1 million and $10 million in liabilities. Miguel Cancio, president of All Sod Nursery, signed the petition. Judge Luis Ernesto Rivera II presides over the case. Michael Dal Lago, Esq., at Dal Lago Law represents the Debtor as bankruptcy counsel. ALLBOUND CARRIER: Gets OK to Use Cash Collateral Until June 30 -------------------------------------------------------------- The U.S. Bankruptcy Court for the Northern District of Illinois, Eastern Division, granted Allbound Carrier, Inc. interim authority to use cash collateral. Under the interim order, the Debtor is authorized to use cash collateral from June 1 to 30 in accordance with a court-approved budget. The Debtor may vary from budgeted expenses by up to 15% on individual line items and 20% on a cumulative basis during the interim period. The Debtor's cash collateral consists primarily of freight revenue and accounts receivable that are subject to a lien held by the U.S. Small Business Administration. The SBA extended a loan of approximately $150,000 to the Debtor in 2020, secured by a blanket lien on all business assets, including receivables and cash. Because all incoming revenue constitutes cash collateral, the Debtor cannot continue operations without court authorization to use these funds. As adequate protection, the Debtor is required to continue its regular monthly loan payments -- approximately $731 -- on the schedule required under the existing SBA loan documents. The SBA will also receive replacement liens on all post-petition property of the Debtor that is similar to its pre-petition collateral, with the same priority, validity, and enforceability as its pre-petition liens. These liens are automatically perfected without additional filings. The order is available at http://bankrupt.com/misc/AllboundCarrier_ICCOrder.pdf A further hearing is scheduled for June 26. Allbound Carrier Inc. Allbound Carrier, Inc. is an Illinois-based trucking company operating through independent owner-operators. Allbound Carrier sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 26-06532) on April 15, 2026, with assets of up to $1 million and liabilities of up to $500,000. Blagoj Srbinov, president of Allbound Carrier, signed the petition. Judge Nancy A. Peterman oversees the case. David P Leibowitz, Esq., at Law Offices of David P Leibowitz, LLC, represents the Debtor as legal counsel. ALPHA BEDDING: Gets Final OK to Use Cash Collateral --------------------------------------------------- Alpha Bedding, LLC received final approval from the U.S. Bankruptcy Court for the Northern District of Illinois, Eastern Division, to use cash collateral. Under the order, the Debtor is authorized to continue using cash collateral during the Chapter 11 proceedings. The Debtor's cash collateral consists of cash and proceeds of collateral, subject to the lien held by its secured lender, Old National Bank. Prior to its bankruptcy filing, the Debtor entered into a credit agreement with Old National Bank, which provided a $750,000 loan secured by substantially all of the Debtor's assets, including accounts receivable, inventory, equipment, and deposit accounts. As of early February, after the loan was accelerated, approximately $562,844 remained outstanding. As adequate protection, Old National was granted replacement liens on all post-petition property of the bankruptcy estate of the same type and priority as its pre-petition liens. These replacement liens are intended to protect the lender against any potential diminution in the value of its collateral resulting from the debtor's use of cash collateral. The order is available at https://shorturl.at/laqZa from PacerMonitor.com. About Alpha Bedding LLC Alpha Bedding, LLC, also known as Alpha Tekniko, is a Lake Zurich, Illinois-based contract manufacturer that was founded in 2008 and produces medical mattresses, cushions and pads. It provides custom support surface design, product development, prototype creation, design verification and full-service production, along with consulting services related to support surfaces. Alpha Bedding serves durable medical equipment and healthcare customers, including medical OEMs, healthcare distributors, refurbishers, resellers, rental companies and product developers and manufactures in a 55,000-square-foot plant. Alpha Bedding sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 26-06826) on April 20, 2026, with $955,771 in total assets and $2,104,383 in total liabilities. Theodosius Lazakis, president of Alpha Bedding, signed the petition. Judge David D. Cleary oversees the case. David P. Leibowitz, Esq., at the Law Offices of David P. Leibowitz, LLC, represents the Debtor as bankruptcy counsel. ALPINE CORP: Court OKs Continued Access to Cash Collateral ---------------------------------------------------------- The U.S. Bankruptcy Court for the Central District of California, Los Angeles Division, approved Alpine Corporation's continued use of cash collateral. The court on June 12 entered an interim order authorizing the Debtor to continue using cash collateral to fund its operations on the same terms and conditions that applied under its prior interim orders. All forms of adequate protection previously granted to secured creditors remain fully effective. The June 12 order is available at http://bankrupt.com/misc/AlpineCorp_612ICCOrder.pdf The court continued the hearing to June 30. Alpine has one secured creditor, IDB Bank, which received "adequate protection" payment of $40,000 under the March 30 interim order. IDB Bank holds a term loan of $159,598 and a revolving line of credit of $14,107,958, secured by substantially all of the Debtor's personal property including accounts receivable, inventory, equipment, furniture, and goodwill. The collateral is valued at approximately $16.7 million. The Debtor also obtained loans from three Hard Money Lenders -- Samson MCA LLC, 968 W Veterans Realty, LLC, and GBR Funding West, Inc. -- with security interests in future accounts. These liens, however, were filed during the 90-day preference period and are avoidable. About Alpine Corporation Alpine Corporation founded in 1999 and based in California, designs, imports, and distributes home, garden, and holiday products, offering a range that includes outdoor lighting, fountains, planters, garden decor, seasonal items, and innovative new products such as Bluetooth speakers. The Company operates an in-house design team known for producing decorative and functional pieces, and maintains a global sourcing operation to ensure quality, competitive pricing, and timely delivery. Alpine serves both retail stores and online customers through its platform, positioning itself in the home and garden products industry. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Cal. Case No. 26-10067) on January 5, 2026. In the petition signed by Robby Soofer, president, the Debtor disclosed $18,816,855 in total assets and $25,958,701 in total liabilities. Judge Neil W. Bason oversees the case. Michael S. Kogan, Esq., at Kogan Law Firm, APC, represents the Debtor as bankruptcy counsel. AM CARRIER: Hires James G. Murphy Company as Auctioneer ------------------------------------------------------- AM Carrier, LLC seeks approval from the U.S. Bankruptcy Court for the Western District of Washington to employ James G. Murphy Company as auctioneer. The firm will provide an independent fair liquidation value appraisal value of Debtor's assets and to resolve the dispute between the Debtor and JPMorgan Chase regarding the value of Debtor's assets. The firm will be paid at the rate of $650 for the appraisal services. As disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Colin Murphy James G. Murphy Inc. Commercial/Industrial/Real Estate Auctioneers Appraisals/Liquidations 3803 136th St. NE Marysville, WA 98271 Tel: (425) 486-1246 About AM Carrier, LLC AM Carrier, LLC is a transportation and logistics company providing carrier services across the Pacific Northwest. The company specializes in freight management and delivery solutions for commercial clients. AM Carrier, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Wash. Case No. 26-10244) on January 27, 2026. In its petition, the Debtor reports estimated assets of $0-$100,000 and estimated liabilities of $100,001-$1,000,000. AMERICAN LOCATING: Seeks Cash Collateral Access ----------------------------------------------- American Locating Services, Inc. asks the U.S. Bankruptcy Court for the Southern District of Indiana, Indianapolis Division, for authority to use cash collateral and provide adequate protection. The Debtor explains that its Chapter 11 filing was driven largely by cash flow strain caused by reliance on merchant cash advance lenders and by overexpansion tied to anticipated contracts that ultimately did not materialize, resulting in overextended staffing costs and liquidity deterioration. The Debtor asserts that it remains fundamentally viable and profitable based on its projections and intends to pursue reorganization. The Debtor identifies the Small Business Administration as the primary secured creditor holding a blanket lien on substantially all cash collateral, which consists primarily of cash, accounts receivable, and operational revenue, along with a limited purchase money security interest in certain equipment. The Debtor also notes exposure to various merchant cash advance lenders but proposes to treat the SBA as the main party entitled to adequate protection. At filing, the Debtor had approximately $5,000 in cash and about $50,000 in accounts receivable, with no inventory. The Debtor seeks authorization to use cash collateral to fund ordinary operating expenses during the interim period, emphasizing that continued access to liquidity is essential to preserve going-concern value and prevent immediate harm to the estate. It submits a proposed budget reflecting approximately $14,524 in cash collateral usage for a two-week interim period ending June 14, 2026, and states it does not intend to seek additional post-petition financing beyond cash collateral usage. As adequate protection, the Debtor proposes granting replacement liens on post-petition assets to the extent of any diminution in value of the secured creditor's interest. The Debtor asserts that its operations are relatively stable and largely managed by the owner and his son, but financial distress resulted from staffing decisions made in anticipation of contracts that did not materialize, leading to prolonged payroll obligations and reliance on high-cost financing. The Debtor asserts that its core business remains viable and that stabilization through cash collateral use will allow it to preserve value for creditors and proceed toward a confirmable plan. A copy of the motion is available at https://urlcurt.com/u?l=9NijJ9 from PacerMonitor.com. About American Locating Services, Inc. American Locating Services, Inc. provides utility locating services using ground-penetrating radar and EM technology. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Ind. Case No. 26-03480-JMC-11) on June 1, 2026. In the petition signed by Jeffery R Clem, president, the Debtor disclosed up to $500,000 in assets and up to $1 million in liabilities. Judge James M. Carr oversees the case. KC Cohen, Esq., at KC Cohen, Lawyer, PC, represents the Debtor as legal counsel. ANGIE'S MOBILE: Employs Mark E. Koller CPA PC as Accountant ----------------------------------------------------------- Angie's Mobile Pet Styling, LLC seeks approval from the U.S. Bankruptcy Court for the Middle District of Florida to hire Mark E. Koller CPA PC to serve as its accountant. The accountant will provide these services: (a) assist the Debtor in the preparation of court-ordered reports, including Monthly Operating Reports; (b) assist the Debtor with other ordinary accounting services on an as-needed basis; (c) prepare ordinary financial documents and tax returns; and (d) provide accounting and compliance support required during the Chapter 11 case, including reporting obligations. Mark E. Koller CPA PC will receive a $1,500 initial retainer, an hourly rate of $175 for services rendered by the accountant, and an hourly rate range of $100 to $150 for accounting staff. The firm will also be reimbursed for out-of-pocket expenses such as copies, computer charges, and postage. No fees will be paid unless approved by the Court. Mark E. Koller CPA PC is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code, according to court filings. The firm can be reached at: Mark B. Koller Mark E. Koller CPA PC 7231 Little Road, Suite J New Port Richey, FL 34654 Telephone: (727) 860-1040 E-mail: mark@markkollercpa.com About Angie's Mobile Pet Styling LLC Angie's Mobile Pet Styling, LLC sought protection under Chapter 11 of the Bankruptcy Code (Bankr. M.D. Fla. Case No. 26-04130) on May 14, 2026. At the time of the filing, the Debtor had estimated assets of between $100,001 and $500,000 and liabilities of between $1 million and $10 million. Judge Caryl E. Delano oversees the case. Ford & Semach, P.A. is the Debtor's legal counsel. APPLE TREE: Hire Grant Thornton LLP as Independent Auditor ---------------------------------------------------------- Apple Tree Life Sciences, Inc. and its affiliates seek approval from the U.S. Bankruptcy Court for the District of to employ Grant Thornton LLP as independent auditor. The firm will provide these services: a. audit the consolidated financial statements of the Debtors as of and for the year ending on December 31, 2025, including the related notes (collectively, the "Financial Statements") in accordance with auditing standards generally accepted in the United States (the "US GAAS") as established by the American Institute of Public Accounting; b. identify and assess the risks of material misstatements in the Financial Statements, whether due to fraud or error, design and perform audit procedures responsive to those issues, and obtain audit evidence that is sufficient and appropriate to provide a basis for a professional opinion; c. evaluate the appropriateness of the accounting policies used by the Debtors as well as the overall Financial Statement presentation, including disclosures and whether the Financial Statements represent the underlying transactions and events in a manner that achieves fair presentation; d. provide a conclusion based on the audit evidence obtained as to whether there are conditions or events that when considered in the aggregate raise a substantial doubt about the Debtors' ability to continue as a going concern for a reasonable period of time; and e. upon completion of the audit, render a report in accordance with the US GAAS to the Debtors communicating the audit's findings. The fixed fee for completion of this engagement is $375,000, and will be rendered in accordance with the Schedule of Billings. May 25, 2026 $187,500 July 13, 2026 $187,500 The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Mr. Elberg disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Eric Elberg Grant Thornton LLP 757 Third Ave, New York, NY 10017 Tel: (212) 599-0100 About Apple Tree Life Sciences Apple Tree Life Sciences, Inc., legally known as Apple Tree Life Sciences, Inc., is a life sciences venture capital firm that forms and invests in healthcare and biotechnology companies from early stage concepts through public market offerings. The firm provides flexible capital and works with venture partners and entrepreneurs-in-residence to develop research-driven enterprises in the therapeutics sector. Its activities span company creation at stages ranging from pre-intellectual-property ideas to asset spinouts. Apple Tree Life Sciences, Inc. and affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Lead Case No. 25-12177) on Dec. 9, 2025. In its petition, the Debtor reports estimated liabilities between $1 billion and $10 billion estimated liabilities between $100,000 and $500,000. Bankruptcy Judge Laurie Selber Silverstein handles the case. The Debtors' General Bankruptcy Co-Counsel is POTTER ANDERSON & CORROON LLP. The Debtors' General Bankruptcy Co-Counsel is QUINN EMANUEL URQUHART & SULLIVAN, LLP. The Debtors' Financial & Restructuring Advisor is B. RILEY. The Debtors' Cayman Law Counsel is WALKERS. APPVION INC: Court Won't Establish Settlement Fairness Protections ------------------------------------------------------------------ Judge William C. Griesbach of the U.S. District Court for the Eastern District of Wisconsin denied the motion of State Street Bank & Trust Company and Argent Trust Company to establish due process and fairness protections related to settlement funds in the case captioned as APPVION, INC. RETIREMENT SAVINGS AND EMPLOYEE STOCK OWNERSHIP PLAN, by and through Grant Lyon in his capacity as the ESOP Administrative Committee of Appvion, Inc., Plaintiff, v. STATE STREET BANK & TRUST COMPANY, ARGENT TRUST COMPANY, and RELIANCE TRUST COMPANY, Defendants, Case No. 18-C-1861 (E.D. Wis.). Grant Lyon commenced this action in his capacity as the sole member of Appvion, Inc.'s Employee Stock Ownership Plan (ESOP) Administrative Committee on behalf of the Appvion, Inc. Retirement Savings and Employee Stock Ownership Plan. Lyon alleges violations of the Employee Retirement Income Security Act of 1974 (ERISA), 29 U.S.C. Sec. 1001 et seq. Altogether, the Amended Complaint asserted 19 counts against eight entities and 51 individuals, including their spouses. Following the court's decision granting Defendants' Federal Rule of Civil Procedure 12(b)(6) motion to dismiss, Lyon filed a Second Amended Complaint that asserted 37 causes of action against seven entities and 19 individuals. A second motion to dismiss was granted as to all but one of the Defendants, and at Lyon's request, a final judgment was entered pursuant to Federal Rule of Civil Procedure 54(b) so as to allow an immediate appeal. The court's decision was affirmed in part by the Court of Appeals and reversed and remanded in part. What remains at this time are Lyon's claims for breach fiduciary duty under 29 U.S.C. Sec. 1104, co-fiduciary liability under 29 U.S.C. Sec. 1105, and/or prohibited transactions under 29 U.S.C. Sec. 1106 against Defendants State Street Bank & Trust Company, Argent Trust Company, and Reliance Trust Company. Defendants learned in discovery that Lyon was in possession of almost $16 million of settlement proceeds obtained from the settlement of claims against other defendants in this case and one of Appvion's pre-bankruptcy accounting firms in a related state court matter. Lyon intended to distribute $10 million of the settlement proceeds to himself, his lawyers, and his expert witnesses. That distribution has already occurred. The case is now before the court on State Street and Argent's motion to establish due process and fairness protections related to settlement funds. In particular, State Street and Argent request that the court enter an order, before the settlement proceeds are distributed, either (1) directing Lyon to submit to the court a detailed procedure to protect the due process interests of the ESOP and its participants or (2) establishing a constructive trust with terms acceptable to the court over the settlement proceeds pending final judgment or other resolution of the case. State Street and Argent request, in the alternative, should the court determine that an interim distribution of the settlement proceeds is appropriate, that disbursement be preceded by procedural safeguards of due process and fairness, such as giving notice to ESOP participants and other stakeholders of the settlement terms and proposed allocation of the settlement proceeds, an opportunity for ESOP participants or other stakeholders to file objections to the planned allocation of settlement proceeds, and a fairness hearing before the court. According to the court, there is no need to disclose the source of the settlement proceeds, saying the public does not have to know which parties settled and how much was paid by them or on their behalf. It is enough that the total amount of the settlement proceeds and how it is to be disbursed are disclosed. Accordingly, the motions of Lyon and State Street and Argent to restrict are partially granted. The court will restrict access to the source of the funds paid by the settling defendants. State Street and Argent request that the court put in place due process and fundamental fairness protections before Lyon distributes the settlement proceeds. They assert that it is inconsistent with due process and fundamental fairness not to give notice and an opportunity to participants, other ESOP stakeholders, and Defendants to be heard to challenge the reasonableness of the fees before the funds are distributed. State Street and Argent assert that the court has authority to order due process and fairness protections in this case. They argue that these protections are required to ensure the finality of the settlements and any final judgment. According to Judge Griesbach, "But the issue would seem to be moot, since the disbursements have already been made. In any event, no statute or rule requires or allows this court to impose due process protections." The court finds State Street and Argent have not established that the court has the authority or duty to require additional due process and fairness protections in this case. A copy of the Court's Order dated June 5, 2026, is available at https://urlcurt.com/u?l=XE3ir4 from PacerMonitor.com. About Appvion Inc. Appvion, Inc. -- http://www.appvion.com/-- produces thermal, carbonless, security, inkjet, digital specialty, and colored papers. The Company is the largest manufacturer of direct thermal paper in North America. Headquartered in Appleton, Wisconsin, Appvion operates coating and converting plants there and in West Carrollton, Ohio and a pulp and paper mill in Roaring Spring, Pennsylvania. The Company employs approximately 1,400 people and is 100% employee-owned. Appvion, Inc., and five affiliated debtors each filed a voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. D. Del. Lead Case No. 17-12082) on Oct. 1, 2017. The cases are pending before the Honorable Kevin J. Carey. Appvion Inc. disclosed total assets of $413,430,904 and total liabilities of $714,758,194 as of Aug. 31, 2017. DLA Piper is serving as legal counsel to Appvion, Guggenheim Securities LLC is serving as the Company's investment banker, and Alan Holtz of AlixPartners is serving as the Company's Chief Restructuring Officer. Prime Clerk LLC is the claims and noticing agent. On Oct. 11, 2017, Andrew Vara, acting U.S. trustee for Region 3, appointed an official committee of unsecured creditors. The Committee retained Lowenstein Sandler LLP, as counsel, Klehr Harrison Harvey Branzburg LLP, as Delaware co-counsel. On Dec. 1, 2017, the court appointed Justin R. Alberto as the fee examiner. He tapped Bayard, P.A., as legal counsel. ARMADILLO DISTRIBUTION: Seeks Chapter 11 Bankruptcy in Florida -------------------------------------------------------------- On June 9, 2026, Armadillo Distribution Enterprises, Inc. and its debtor affiliates filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Middle District of Florida. According to court filings, the Debtor reports between $10 million and $50 million in debt owed to creditors. About Armadillo Distribution Enterprises, Inc. Armadillo Distribution Enterprises, Inc. is a Tampa, Florida-based manufacturer and distributor of musical instruments and related music products, serving retailers, dealers, and consumers through a portfolio of brands. Armadillo Distribution Enterprises, Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-04925) on June 9, 2026. In its petition, the Debtor reports estimated assets of $1 million to $10 million and estimated liabilities of $10 million to $50 million. Honorable Bankruptcy Judge Catherine Peek McEwen handles the case. The Debtor is represented by Robert F. Elgidely, Esq. of Fox Rothschild LLP and Glenn D. Moses, Esq. of Venable LLP. ASHWOOD FOOD: Hires Shatz Schwartz and Fentin as Counsel -------------------------------------------------------- Ashwood Food Service, Incorporated d/b/a Jake Rooney's seeks approval from the U.S. Bankruptcy Court for the District of Massachusetts to employ Shatz, Schwartz and Fentin, P.C. as counsel. The firm will provide these services: a. provide legal advice with respect to the powers, rights, and duties of the Debtor in the continued management and operation of its business; b. provide legal advice and consultation related to the legal and administrative requirements of operating this Chapter 11 bankruptcy case; c. take all necessary actions to protect and preserve the Debtor's Estate, including prosecuting actions on the Debtor's behalf, defending any action commenced against the Debtor, and representing the Debtor's interests in any negotiations or litigation in which the Debtor may be involved, including objections to the claims filed against the Debtor's Estate; d. prepare any necessary pleadings including Applications, Motions, Answers, Orders, Complaints, Reports, or other documents necessary or otherwise beneficial to the administration of the Debtor's Estate; e. represent the Debtor's interests at the Meeting of Creditors, pursuant to § 341 of the Bankruptcy Code, and at any other hearing scheduled before this Court related to the Debtor; f. assist and advise the Applicant in the formulation, negotiation, and implementation of a Chapter 11 Plan and all documents related thereto; g. assist and advise the Debtor with respect to negotiation, documentation, implementation, consummation, and closing of corporate transactions, including any sales of assets, in this Chapter 11 bankruptcy case; to assist and advise the Debtor with respect to the use of cash collateral and obtaining Debtor-in-Possession or exit financing and negotiating, drafting, and seeking approval of any documents related thereto; h. review and analyze all claims filed against the Debtor's Bankruptcy Estate and to advise and represent the Debtor in connection with the possible prosecution of objections to claims; i. assist and advise the Debtor concerning any executory contract and unexpired leases, including assumptions, assignments, rejections, and renegotiations; j. to coordinate with other professionals employed in the case to rehabilitate the Debtor's affairs; and k. perform all other bankruptcy related legal services for the Debtor that may be or become necessary during the administration of this case. The firm will be paid based upon its normal and usual hourly billing rates. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. The firm received a retainer in the amount of $36,738. Ms. O'Connor disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Andrea O'Connor, Esq. Shatz, Schwartz and Fentin, PC 1441 Main Street, Suite 1100 Springfield, MA 01103 Tel: (413) 737-1131 Email: aoconnor@ssfpc.com About Ashwood Food Service, Incorporated Ashwood Food Service, Incorporated is a Massachusetts-based food service company engaged in commercial catering and hospitality operations. The company provides food preparation and distribution services to institutional and private clients. Ashwood Food Service, Incorporated sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-11320) on June 3, 2026. In its petition, the Debtor reported estimated assets of $1 million-$10 million and estimated liabilities of $1 million-$10 million. The Debtor is represented by Andrea M. O'Connor, Esq. of Shatz, Schwartz & Fentin, P.C. AUTOMOTIVE OUTFITTERS: Hires Paul Reece Marr P.C. as Attorneys -------------------------------------------------------------- Automotive Outfitters, LLC seeks approval from the U.S. Bankruptcy Court for the Northern District of Georgia to employ Paul Reece Marr, P.C. as attorney. The firm's services include: a. providing the Debtor with legal advice regarding its powers and duties as a debtor in possession in the continued operation and management of its affairs; b. preparing on behalf of the Debtor the necessary applications, statements, schedules, lists, answers, orders and other legal papers pursuant to the Bankruptcy Code; and c. performing all other legal services in the Chapter 11 bankruptcy proceeding for the Debtor which may be reasonably necessary. The firm will be paid at these rates: Paul Reece Marr, Esq. $500 per hour Paralegal $295 per hour The firm agreed a retainer in the amount of $19,738. In addition, the firm will seek reimbursement for its out-of-pocket expenses. Mr. Marr disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Paul Reece Marr, Esq. 6075 Barfield Road, Suite 213 Sandy Springs, GA 30328 Tel: (770) 984-2255 Email: paul.marr@marrlegal.com About Automotive Outfitters LLC Automotive Outfitters, LLC, doing business as Trucked Up, provides automotive outfitting and aftermarket vehicle services in Rome, Georgia. The company's work includes vehicle customization, off-road upfits, tires and related automotive projects, serving vehicle owners and customers seeking truck, off-road and automotive accessory services. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ga. Case No. 26-40728) on May 4, 2026. In the petition signed by Steven William Irmscher, co-manager, the Debtor disclosed up to $10 million in both assets and liabilities. Judge Barbara Ellis-Monro oversees the case. Paul Reece Marr, Esq., at Paul Reece Marr, P.C., represents the Debtor as legal counsel. AZHAR CHAUDHARY: Ali, et al., Case to Remain in Bankruptcy Court ---------------------------------------------------------------- Chief Judge Eduardo V. Rodriguez of the U.S. Bankruptcy Court for the Southern Disrict of Texas denied the motion of Azhar M. Chaudhary and Azhar Chaudhary Law Firm, PC to remand the the adversary proceeding captioned as AZHAR M CHAUDHARY and AZHAR CHAUDHARY LAW FIRM, PC, Plaintiffs, VS. HAMZAH ALI, WAYNE DOLCEFINO, and DOLCEFINO CONSULTING, LLC, Defendants, ADVERSARY NO. 26-3128 (Bankr. S.D. Tex.) to the 400th Judicial District Court of Fort Bend County, Texas. On April 11, 2022, Plaintiffs filed suit in the 240th Judicial District Court of Fort Bend County, Texas, Cause No. 22-DCV-292633, against Hamzah Ali ("Ali"), Wayne Dolcefino, and Dolcefino Consulting, LLC ("Defendants"). The state court action asserts exclusively state-law tort claims, including civil conspiracy, statutory libel, libel per se, invasion of privacy by appropriation, slander per se, intentional infliction of emotional distress, tortious interference with current and prospective business relations, business disparagement, negligence, and assault. Plaintiffs sought monetary relief in excess of $1,000,000. The state court action remained pending for approximately four years without proceeding to trial. On April 21, 2026, Defendant Hamzah Ali filed a Notice of Removal, removing the state court action to this Court pursuant to 28 U.S.C. Sec. 1452(a) and Federal Rule of Bankruptcy Procedure 9027. The central issue is whether this court should retain jurisdiction over this adversary proceeding or remand it to state court on equitable grounds. This determination requires analysis of: (1) whether this court possesses statutory jurisdiction under 28 USC Sec. 1334, (2) whether removal was proper and timely under 28 USC Sec. 1452, (3) whether mandatory abstention applies under 28 USC Sec. 1334 and (4) whether the equitable factors under Sec. 1452(b) favor remand. According to Judge Rodriguez, "This Court possesses clear jurisdiction over this adversary proceeding under the Fifth Circuit's related to standard because the claims constitute property of the estate and represent approximately eighty-five percent of the estate's scheduled value." He explains, "The outcome of this proceeding will directly determine what assets are available for distribution to creditors and will drive the feasibility of any reorganization plan. Removal was proper and timely, and the presence of nondebtor parties does not defeat jurisdiction when the claims are intertwined with estate property. Mandatory abstention does not apply because Plaintiffs have failed to demonstrate that the action can be timely adjudicated in state court. The four-year pendency of the action without trial, combined with the absence of any documentary evidence of a trial setting, establishes that state court adjudication is not feasible within a reasonable timeframe." The Bankruptcy Court finds the equitable factors under Sec. 1452(b) weigh decisively against remand. The efficient administration of the estate requires retention of the proceeding in bankruptcy court, where the litigation outcome can be coordinated with plan development, disclosure statement preparation, and settlement approval processes. The state law claims are routine and do not present difficult or unsettled questions of Texas law. The intertwined nature of the Debtor's and individual plaintiff's claims makes severance impractical. The Court says remand would fragment the administration of the estate's most significant asset and create inefficiency. The Debtor voluntarily invoked bankruptcy jurisdiction and cannot now insist that its principal asset be liquidated in another forum beyond the bankruptcy court's oversight. The Court finds that although removal was proper and timely, mandatory abstention does not apply, and the equitable factors weigh decisively against remand. Accordingly, the motion for remand to state court is denied. A copy of the Court's Memorandum Opinion dated June 11, 2026, is available at https://urlcurt.com/u?l=8Y0Gbq from PacerMonitor.com. About Azhar Chaudhary Law Firm PC Azhar Chaudhary Law Firm, PC is a law firm providing legal services primarily in the representation of parties in civil and commercial litigation. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Texas Case No. 26-30895) on February 10, 2026, with between $1 million and $10 million in both assets and liabilities. Judge Eduardo V. Rodriguez presides over the case. David L. Venable, Esq. represents the Debtor as legal counsel. BBBB GP: Seeks to Hire Shannon Lee Beatty LLP as Bankruptcy Counsel ------------------------------------------------------------------- BBBB GP, LLC seeks approval from the U.S. Bankruptcy Court for the Western District of Texas to employ Shannon Lee Beatty LLP as general bankruptcy counsel. The firm will represent the Debtor in fulfilling their duties under the Bankruptcy Code and administering their bankruptcy estate. The firm will be paid at these rates: R. J. Shannon $750 per hour Sean T. Wilson $750 per hour Other Partners $750 to $1,000 per hour Associate Attorneys $300 to $600 per hour Non-Lawyer Professionals $75 to $150 per hour In addition, the firm will seek reimbursement for its out-of-pocket expenses. R. J. Shannon disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: R.J. Shannon, Esq. 2100 Travis Street, STE 1408 Houston, TX 77002 Telephone: (713) 714-5770 Facsimile: (833) 714-5770 Email: rshannon@shannonleellp.com About BBBB GP LLC BBBB GP, LLC operates as a general partner entity involved in investment management, real estate holdings, or business asset administration activities. It is based in San Antonio Texas. BBBB GP sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Texas Case No. 26-51210) on May 4, 2026. In its petition, the Debtor reported estimated assets of between $1 million and $10 million and estimated liabilities of between $1 million and $10 million. The Debtor is represented by R. J. Shannon, Esq. of Shannon Lee Beatty LLP. BECKY'S PET CARE: Seeks $75,000 DIP Loan from Houndry ----------------------------------------------------- Becky's Pet Care, Inc asks the U.S. Bankruptcy Court for the Eastern District of Virginia, Alexandria Division, for authority to obtain an emergency $75,000 secured bridge loan from proposed buyer Houndry LP. The Debtor argues the financing is urgently needed to cover a critical payroll shortfall after a merchant cash advance lender, Union Funding Source, placed a lien on the company's Stripe payment processor, freezing approximately $20,000 in existing funds and preventing access to an estimated $80,000 in upcoming credit card revenues. Without immediate funding, the company states it risks missing a $70,000 payroll due June 4, 2026, which could trigger employee departures, business shutdown, and loss of enterprise value ahead of a planned asset sale. The Debtor explains that it operates 11 office staff and about 60 field employees providing pet care services in Northern Virginia, and that while it was previously profitable, it suffered long-term financial strain following COVID-19 and accumulated roughly $2 million in SBA Economic Injury Disaster Loans alongside other high-interest debt. It has identified Houndry as a stalking horse bidder in a proposed sale of substantially all assets, which is intended to preserve jobs and maximize creditor recovery, particularly for the SBA, which holds the primary secured claim. However, the unexpected freezing of Stripe accounts accelerated the bankruptcy filing and disrupted planned financing. To resolve the liquidity crisis, the Debtor requests authority to obtain an emergency bridge loan from Houndry, which would provide up to $75,000 in interest-free, fee-free funding specifically for payroll. In exchange, Houndry would receive a superpriority administrative claim and senior liens on all debtor assets, including pre- and post-petition property, with repayment from sale proceeds or via credit bidding in the asset auction. The Debtor asserts that no better financing is available on such short notice and that the terms represent sound business judgment. The Debtor further argues that the loan will not harm, and may actually preserve, the value of the SBA's secured interest because the company’s value is tied to its going-concern status; failure to pay employees could collapse operations and eliminate collateral value. The Debtor proposes additional adequate protection for the SBA through a replacement lien subordinate only to the bridge loan. A copy of the motion is available at https://urlcurt.com/u?l=YAwngc from PacerMonitor.com. About Becky's Pet Care, Inc. Becky's Pet Care, Inc. provides pet care services in Springfield, Virginia. Founded in 1998, the company offers services including dog walking, cat sitting, pet care visits, medical support, enrichment programs, walk-and-train services, and pet CPR and first aid. It serves pets and pet owners in the Northern Virginia area. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Virg. Case No. 26-11295) on May 28, 2026. In the petition signed by Becky O'Neil, president, the Debtor disclosed $38,063 in assets and $2,580,388 in liabilities. Justin P. Fasano, Esq., at McNAMEE HOSEA, P.A., represents the Debtor as legal counsel. BEELAND PROPERTIES: Hearing Today on Bid to Use Cash Collateral --------------------------------------------------------------- The U.S. Bankruptcy Court for the Middle District of Louisiana is set to hold a final hearing today on the motion to use cash collateral filed by Dwayne Murray, the liquidation agent for Beeland Properties, LLC. The liquidation agent was initially allowed to access cash collateral under the court's May 29 order. The order authorized the liquidation agent to pay $18,100.57 in tax redemption owed to the Livingston Parish Sheriff's Office using remaining funds from a previously approved settlement with Allstate. The court's authorization under the May 29 order is limited to these tax redemption payments, recognizing the need to preserve the affected properties by preventing the loss of redemption rights. All other requests for cash collateral use and related relief remain unresolved and will be considered at the final hearing. About Beeland Properties LLC Beeland Properties, LLC is a company in Denham Springs, La., engaged in renting and leasing real estate properties. The Debtor filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. M.D. La. Case No. 24-10461) on June 11, 2024, with $1 million to $10 million in both assets and liabilities. Jeff Landry, manager, signed the petition. Judge Michael A. Crawford presides over the case. Ryan J. Richmond, Esq., at Sternberg, Naccari & White, LLC represents the Debtor as legal counsel. Dwayne M. Murray, the liquidation agent for the Debtor, tapped Richard A. Richardson, Esq., at the Law Office of Richard A. Richardson, LLC as bankruptcy counsel; Murray & Murray, LLC, as special counsel; and Patrick J. Gros, CPA APAC as financial advisor. BETTERWORK MEDIA: Hires Goldstein & McClintock LLLP as Counsel -------------------------------------------------------------- Betterwork Media Group LLC seeks approval from the U.S. Bankruptcy Court for the Northern District of Illinois to employ Goldstein & Mcclintock LLLP as counsel. The firm's services include: a. advising the Debtor with respect to its powers and duties as debtor in possession in the continued management and operation of its business; b. attending meetings and negotiating with representatives of creditors and other parties in interest; c. taking all necessary action to protect and preserve the Debtor's estate, including prosecuting actions on the Debtor's behalf, defending any action commenced against the Debtor, and representing the Debtor's interests in negotiations concerning all litigation in which the Debtor is involved, including objections to claims filed against its estate; d. preparing all motions, applications, answers, orders, reports, and papers necessary to the administration of the Debtor's estate and its Chapter 11 Case; e. taking any necessary action on behalf of the Debtor to obtain confirmation of the Debtor's plan of reorganization; f. representing the Debtor in connection with obtaining use of cash collateral and post-petition financing (to the extent necessary); g. advising the Debtor in connection with any potential sale of assets; h. appearing before the Court, any appellate courts, and the United States Trustee and protecting the interests of the Debtor's estate before those courts and the United States Trustee; and i. performing all other necessary legal services to the Debtor in connection with the Chapter 11 Case, including, without limitation, (i) the analysis of the Debtor's executory contracts and the assumption, rejection, or assignment thereof, (ii) the analysis of the validity of liens against the Debtor, and (iii) advice on corporate, litigation, and other matters The firm will be paid at these rates: Senior partners $390 to $980 per hour Legal assistants and law clerks $195 to $235 per hour Jeffrey C. Dan, partner $625 per hour The firm received a retainer in the amount of $24,626.90. In addition, the firm will seek reimbursement for its out-of-pocket expenses. Mr. Dan disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Jeffrey C. Dan, Esq. GOLDSTEIN & MCCLINTOCK LLLP 111 W. Washington Street, Suite 1221 Chicago, IL 60602 Tel: (312) 337-7700 Fax: (312) 277-3315 E-mail: jeffd@goldmclaw.com About BetterWork Media Group LLC BetterWork Media Group, LLC, a company based in Chicago, Illinois, operates a media platform serving corporate learning and talent-management professionals. Founded in 2021, the company manages Chief Learning Officer and Chief Talent Officer, producing editorial content, research, events, webinars, digital media and awards programs. BetterWork Media Group also provides advertising and event-related services for C-suite executives, senior practitioners, scholars, consultants, solutions providers and organizations seeking to reach workforce learning and human-capital management audiences. BetterWork Media Group filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. N.D. Ill. Case No. 26-08411) on May 14, 2026, with $33,976 in assets and $1,028,970 in liabilities. Lauren Lynch, authorized representative, signed the petition. Judge Deborah L. Thorne presides over the case. Jeffrey C. Dan, Esq., at Goldstein & McClintock, LLLP represents the Debtor as legal counsel. BKR LLC: Hires RHM Law LLP as General Bankruptcy Counsel -------------------------------------------------------- BKR LLC seeks approval from the U.S. Bankruptcy Court for the Central District of California to employ RHM Law LLP as general bankruptcy counsel. The firm's services include: a. providing advice and assistance regarding compliance with the requirements of the United States Trustee ("UST"); b. providing advice regarding matters of bankruptcy law, including the rights and remedies of the Debtor in regard to its assets and with respect to the claims of creditors; c. providing advice regarding cash collateral matters; d. conducting examinations of witnesses, claimants or adverse parties and to prepare and assist in the preparation of reports, accounts and pleadings; e. providing advice concerning the requirements of the Bankruptcy Code and applicable rules; f. assisting with the negotiation, formulation, confirmation and implementation of a Chapter 11 plan of reorganization; and g. making any appearances in the Bankruptcy Court on behalf of the Debtor; and to take such other action and to perform such other services as the Debtor may require. The firm will be paid based upon its normal and usual hourly billing rates. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. The firm agreed a retainer in the amount of $101,738 for its representation in this case. Mr. Resnik disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Matthew D. Resnik RHM LAW LLP 17609 Ventura Blvd., Suite 314 Encino, CA 91316 Tel: (818) 285-0100 Fax: (818) 855-7013 E-mail: matt@RHMFirm.com About BKR LLC BKR LLC, doing business as the Ramada Bakersfield North hotel, sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Calif. Case No. 26-10969) on May 5, 2026. In the petition signed by Michael P. Crane, managing member, the Debtor disclosed up to $10 million in both assets and liabilities. Judge Martin R. Barash oversees the case. Matthew D. Resnik, Esq., at RHM Law LLP, represents the Debtor as legal counsel. Omni Bank, N.A., as secured creditor, is represented by Aram Ordubegian , Esq., Annie Y. Stoops, Esq., and Jack C. Bistritz, Esq., at ARENTFOX SCHIFF LLP. BLUE MOUNTAIN: Hires Neeleman Law Group P.C. as Legal Counsel ------------------------------------------------------------- Blue Mountain Construction NW, LLC seeks approval from the U.S. Bankruptcy Court for the Western District of Washington to employ Neeleman Law Group, P.C. as legal counsel. The firm's services include: a. assisting the Debtor in the investigation of the financial affairs of the estate; b. providing legal advice and assistance to the Debtor with respect to matters relating to this case and creditor distribution; c. preparing all pleadings necessary for proceedings arising under this case; and d. performing all necessary legal services for the estate in relation to this case. The firm will be paid at these rates: Attorney $600 per hour Associate $475 per hour Paralegal $250 per hour The firm will be paid a retainer in the amount of $19,738. In addition, the firm will seek reimbursement for its out-of-pocket expenses. Ms. Neeleman disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Jennifer L. Neeleman, Esq. Neeleman Law Group, P.C. 1403 8th Street Marysville, WA 98270 Tel: (425) 212-4800 Email: jennifer@neelemanlaw.com About Blue Mountain Construction NW, LLC d/b/a Blue Mountain Construction Group, LLC d/b/a Blue Mountain Construction Group d/b/a Blue Mountain Trenchless Blue Mountain Construction NW, LLC, doing business as Blue Mountain Construction Group, Blue Mountain Construction Group, LLC and Blue Mountain Trenchless, is an Everett, Washington-based civil infrastructure contractor that provides sewer repair, replacement and trenchless pipeline rehabilitation services. The company uses sewer inspection, pipeline locating, inversion, wet-out and related equipment to support underground utility projects, including municipal sewer work such as an annual sewer repair and replacement services contract with the City of Shoreline. Blue Mountain Construction NW, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Wa. Case No. 26-11395) on April 27, 2026. In its petition, the Debtor reports $787,995 total assets and $1,515,654 total liabilities. Judge Hon. Timothy W Dore oversees the case. Thomas D. Neeleman, Esq. of Neeleman Law Group, P.C. serve as the Debtor's legal counsel. BLUE ROCK ASSOCIATES: Seeks Chapter 7 Bankruptcy in New York ------------------------------------------------------------ On June 8, 2026, Blue Rock Associates LLC filed for Chapter 7 protection in the U.S. Bankruptcy Court for the Eastern District of New York. According to court filings, the Debtor reports between $100,001 and $1 million in debt owed to 1-49 creditors. About Blue Rock Associates LLC Blue Rock Associates LLC is a privately held limited liability company engaged in business, investment, and asset management activities. Blue Rock Associates LLC sought relief under Chapter 7 of the U.S. Bankruptcy Code (Bankr. Case No. 26-72315) on June 8, 2026. In its petition, the Debtor reports estimated assets of $100,001 to $1 million and estimated liabilities of $100,001 to $1 million. Honorable Bankruptcy Judge Louis A. Scarcella handles the case. BLUEPRINT EAST: Hires Regional Bankruptcy Center of as Counsel -------------------------------------------------------------- Blueprint East LLC seeks approval from the U.S. Bankruptcy Court for the Eastern District of Pennsylvania to employ Regional Bankruptcy Center of Southeastern PA, P.C. as counsel. The firm will provide these services: a. analysis of the debtor' s financial situation, and rendering advice to the debtor in determining whether to file a petition in bankruptcy; b. preparation and filing of any petition, schedules, statements of affairs and plan which may be required; c. representation of the debtor at the meeting of creditors and confirmation hearing, and any adjourned hearings thereof; . representation of the debtor in adversary proceedings and other contested bankruptcy matters. The firm will be paid at these rates: Roger V. Ashodian $300 per hour The firm received an initial retainer of $3,500 on May 30, 2026. In addition, the firm will seek reimbursement for its out-of-pocket expenses. Mr. Ashodian disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Roger V. Ashodian, Esq. Regional Bankruptcy Center of Southeastern PA, P.C. 101 West Chester Pike, Suite 1A Havertown, PA 19083 Tel: (610) 446-6800 About Blueprint East, LLC Blueprint East, LLC is a limited liability company. Blueprint East, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-10838) on March 2, 2026. In its petition, the Debtor reports estimated assets ranging from $0 to $100,000 and estimated liabilities between $100,001 and $1,000,000. Honorable Bankruptcy Judge Ashley M. Chan handles the case. BOKQUA LLC: To Sell Colorado Properties to Multiple Buyers ---------------------------------------------------------- BOKQUA, LLC, seeks permission from the U.S. Bankruptcy Court for the District of Colorado, to sell Property, free and clear of liens, claims, interests, and encumbrances. The Debtor is a Colorado limited liability company that owns and leases real property comprised of single family homes and condominium properties in Colorado. As of the Petition Date, the Debtor held approximately 169 properties as of the Petition Date. r2 advisors LLC serves as the Chief Restructuring Officer of the Debtor and Atlas Real Estate act as the Debtor's property manager. The Debtor entered into a Contract to Buy and Sell Real Estate (Residential) and Counterproposal for the real property located at 3062 South Florence Court, Denver, CO 80231, (Florence Property) on November 26, 2025 and an Agreement to Amend/Extend Contract on June 3, 2026, pursuant to which the Debtor proposes to sell the Florence Property to Jade and Annalisa Stevens-Huang for a sale price of $494,888.00 The Debtor entered into a Contract to Buy and Sell Real Estate (Residential) on March 10, 2026 for the property located at 19193 Easter Amherst Drive, Aurora, Colorado (Amherst Property) pursuant to which the Debtor proposes to sell the Amherst Property to Nathan Gelbach for a sale price of $519,888.00. The Debtor believes that the sales require minor preparation and there is anticipated to be net proceeds from the sales after paying the cost of sale, past-due property taxes, and an allocated share of the Genesis loans for which the respective properties are collateral. The sale will result in a reduction of the secured claims against the estate and will further the Debtor’s reduction of its total property holdings. The sale of the Sale Properties is in the best interests of the Debtor, its estate, and its creditors. The sole party with an interest in the Sale Properties is Genesis Capital, LLC who has consented to the sale of the Sale Properties. The sales are the product of arms-length transactions as a result of Atlas' marketing efforts. The sale of the Sale Properties is in the best interests of the Debtor, its estate, and its creditors, as it will maximize the value of the Sale Properties and will reduce the claims against the estate. 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. BOUND LOGISTICS: Gets Extension to Access Cash Collateral --------------------------------------------------------- Bound Logistics, LLC received interim approval from the U.S. Bankruptcy Court for the District of New Jersey for authority to use cash collateral and provide adequate protection to its secured lender, Flushing Bank. The court authorized the Debtor to use cash collateral to pay operating expenses based on a 13-week cash flow projection. The Debtor has approximately $1.56 million in personal property assets -- primarily accounts receivable, trucking equipment, and deposits -- against which multiple creditors hold security interests. However, due to the value of the collateral, only Flushing Bank is partially secured, with a claim exceeding $2.2 million while other creditors appear undersecured or unsecured. As adequate protection for the use of its cash collateral, Flushing Bank will receive monthly payments of $30,890.36, payable on or before the first day of each month. The bank will also receive a replacement perfected security interest in the Debtor's post-petition collateral and proceeds to the same extent and priority as its pre-petition liens, subject to an agreed carveout. The carveout covers approved administrative and statutory committee expenses, unpaid U.S. Trustee fees, avoidance action proceeds, and up to $20,000 in fees for a Chapter 7 trustee, if one is appointed. In addition, the order establishes a $5,000 monthly reserve for professional fees and restructuring costs to be held in trust by the Debtor's bankruptcy counsel pending court approval. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/uTFYT from PacerMonitor.com. Flushing Bank is represented by: Thomas J. Monroe, Esq. Certilman Balin Adler & Hyman, LLP 90 Merrick Avenue, 9th Floor East Meadow, NY 11554 Phone: 516-296-7193 tmonroe@certilmanbalin.com About Bound Logistics Bound Logistics, LLC operates as an asset-based trucking and logistics company in Union, New Jersey, providing intermodal drayage and container transportation services between port terminals and inland destinations, primarily serving the New York and New Jersey port region. Bound Logistics sought relief under Chapter 11 of the U.S. Bankruptcy Coode (Bankr. D. N.J., Case No. 26-14399) on April 22, 2026. In its petition, the Debtor reported estimated assets between $1 million to $10 million and estimated liabilities between $1 million to $10 million. The petitions were signed by Nathan Halberstam as authorized representative of the Debtor. Judge Mark Edward Hall oversees the case. The Debtor tapped Scura Wigfield, Hyer, Stevens & Cammarota LLP as legal counsel and Vestcorp, LLC as financial consultant. BRAZAS CHICKEN: Gets OK to Use Cash Collateral Until June 24 ------------------------------------------------------------ Brazas Chicken Inc. received interim approval from the U.S. Bankruptcy Court for the Middle District of Florida, Orlando Division, to use cash collateral. Under the order, the Debtor is authorized to use cash collateral through June 24 to pay court-authorized expenses, operating expenses contained in the approved budget, and up to 10% above each budgeted line item. The Debtor projects total monthly operational expenses of $34,843. The Debtor may also make additional expenditures if approved in writing by the U.S. Small Business Administration (SBA), Tanders Bank, and Boca Capital Partners LLC. Any use of cash collateral outside these parameters is prohibited without further authorization. As adequate protection for secured creditors, SBA, Tanders Bank, Boca Capital Partners, and any junior lienholders are granted perfected post-petition replacement liens on cash collateral. These replacement liens maintain the same validity, priority, and extent as the creditors' prepetition liens and become effective without the need for additional filings or documentation. The Debtor must continue complying with all duties required of a debtor-in-possession under the Bankruptcy Code and maintain insurance coverage on its property in accordance with applicable loan and security agreements. The order preserves the rights of parties in interest to seek additional adequate protection or restrictions on cash collateral use. A continued hearing on the motion is scheduled for June 24. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/G3cgI from PacerMonitor.com. About Brazas Chicken Inc. Brazas Chicken Inc. operates in the restaurant and food-service industry, offering prepared meals and dining services. The company is engaged in the operation and management of restaurant-related business activities. Brazas Chicken Inc. sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-03802) on May 22, 2026. In its petition, the debtor reported estimated assets of $100,001-$1 million and estimated liabilities of $100,001-$1 million. Honorable Bankruptcy Judge Tiffany P. Geyer handles the case. The debtor is represented by Daniel A. Velasquez, Esq., of Latham, Luna, Eden & Beaudine, LLP. BREASHEARS ROOFING: Case Summary & 16 Unsecured Creditors --------------------------------------------------------- Debtor: Breashears Roofing 18170 Lakeview Lane Monument, CO 80132 Business Description: Breashears Roofing is a Monument, Colorado- based roofing contractor serving commercial property owners, homeowners, property managers, and building owners. The company provides commercial and residential roofing services, including roof repair, roof replacement, installation, maintenance, insurance coordination, and damage analysis. It serves the greater Colorado Springs area, the Western Slope, and the Intermountain area. Chapter 11 Petition Date: June 8, 2026 Court: United States Bankruptcy Court District of Colorado Case No.: 26-14092 Judge: Hon. Thomas B McNamara Debtor's Counsel: Jonathan M. Dickey, Esq. KUTNER BRINEN DICKEY RILEY, P.C. 1660 Lincoln St. Denver, CO 80264 Tel: (303) 832-2400 E-mail: jmd@kutnerlaw.com Total Assets: $157,314 Total Liabilities: $1,566,642 The petition was signed by Mark Breashears as president. A copy of the Debtor's list of its 16 unsecured creditors is available for free on PacerMonitor at: https://www.pacermonitor.com/view/QMPAJEA/Breashears_Roofing__cobke-26-14092__0003.0.pdf?mcid=tGE4TAMA A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/PNDKLKY/Breashears_Roofing__cobke-26-14092__0001.0.pdf?mcid=tGE4TAMA BREWSTER HEIGHTS: Taps Stretto Inc. as Claims and Balloting Agent ----------------------------------------------------------------- Brewster Heights Packing & Orchards, LP and its affiliates seek approval from the U.S. Bankruptcy Court for the Eastern District of Washington to employ Stretto, Inc. as noticing, claims, solicitation, and balloting agent in their Chapter 11 cases. The firm will provide these services: (a) assist with preparation and distribution of required notices including commencement notices, section 341(a) notices, claims bar date notices, sale notices, disclosure statement and plan confirmation notices, and other case-related notices and orders; (b) maintain schedules of assets and liabilities and creditor information; (c) maintain creditor, equity holder, and party-in-interest mailing lists and core mailing lists and update such lists; (d) provide and distribute proof of claim forms and related notices; (e) maintain a claims and mail processing address and process returned mail; (f) prepare and file certificates or affidavits of service; (g) receive, process, and secure proofs of claim; (h) provide electronic filing interface for claims; (i) maintain official claims registers for each Debtor and provide public access; (j) record transfers of claims and related notices; (k) implement security measures for claims data and maintain claims integrity; (l) monitor the Court docket and update mailing and service lists; (m) correct and update address information where necessary; (n) provide case information support including a case website and call center; (o) provide email docket updates to subscribers; (p) assist with publication of notices in media; (q) assist with solicitation, balloting, and vote tabulation; (r) prepare ballot certification and provide testimony if required; (s) assist with preparation of schedules of assets and liabilities and monthly operating reports; (t) manage distributions if serving as distribution agent under a plan; and (u) provide claims analysis and reconciliation. Stretto, Inc. will be compensated pursuant to its services agreement and applicable court approval, with fees and expenses treated as administrative expenses. The Debtors agreed to provide a $20,000 advance to be held as security and replenished as necessary, and Stretto will bill monthly for services rendered. According to court filings, Stretto is a "disinterested person" as defined in Bankruptcy Code Section 101(14) The firm can be reached at: Sheryl Betance Stretto, Inc. 410 Exchange, Ste. 100 Irvine, CA 92602 Telephone: (714) 716-1872 E-mail: sheryl.betance@stretto.com About Brewster Heights Packing & Orchards, LP Brewster Heights Packing & Orchards, LP and its affiliated debtors and debtors-in-possession sought protection under Chapter 11 of the Bankruptcy Code (Bankr. E.D. Washington Case No. 26-01136) on June 4, 2026. At the time of the filing, the Debtors had estimated assets of between $100,000,001 to $500 million and liabilities of between $100,000,001 to $500 million. Judge Frederick P. Corbit oversees the case. BUSH KORNFELD LLP and KATTEN MUCHIN ROSENMAN LLP serve as the Debtors' legal counsel. BRIGHTVIEW LANDSCAPE: Moody's Rates New $738MM Sec. Term Loan 'B1' ------------------------------------------------------------------ Moody's Ratings assigned a B1 rating to BrightView Landscapes, LLC's (BrightView) proposed $738 million senior secured first lien term loan B due 2033. All other ratings including the company's B1 corporate family rating and a stable outlook remain unchanged. BrightView's $738 million amended and extended first lien term loan B due 2033 will refinance the existing term loan that matures in 2029. Moody's do not expect significant changes to the terms and conditions of the credit facility. The maturity extension is credit positive. The transaction is debt neutral given that the term loan is being refinanced at the current outstanding level. RATINGS RATIONALE BrightView's B1 CFR is supported by: 1) the company's solid market position as the leading service provider of commercial landscaping and snow removal services in the US; 2) the company's scale and expertise to service large corporate clients; 3) a diversified customer base; 4) a high level of recurring revenue, providing stability and predictability of operating results in the maintenance segment outside of snow removal services; and 5) focus on profitability improvements and Moody's expectations that debt to EBITDA will remain moderate, at around 3.0x. The credit profile is constrained by: 1) the potential event risk stemming from the company's concentrated private equity ownership as well as risks associated with possible acquisition or shareholder friendly activity; 2) the company's limited business segment diversity; 3) its modest EBITA margins of 5% to 6% (5.6% as of the last 12 months ending March 31, 2026); and 4) the competitive nature of the commercial landscaping industry featuring low barriers to entry, exposure to the real estate development business dependent on economic swings and volatility of the snow removal segment due to weather patterns. The stable outlook reflects Moody's expectations that BrightView will continue to improve profitability and maintain good liquidity with leverage staying around 3x debt to EBITDA in the next 12 to 18 months. BrightView's SGL-2 Speculative Grade Liquidity Rating reflects Moody's expectations that the company will maintain good liquidity over the next 12 to 15 months. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATING The ratings could be upgraded if the company's concentration in ownership structure declines, if it demonstrates a sustained commitment to conservative financial policies, including during periods of growth through acquisitions, if debt to EBITDA leverage sustains below 3.5x, and retained cash flow to net debt approaches 20%. The ratings could be downgraded if the company's debt to EBITDA is sustained above 5.0x, retained cash flow to net debt at 10% or below, the company exercises a more aggressive financial policy. The principal methodology used in this rating was Business and Consumer Services published in February 2026. Headquartered in Blue Bell, Pennsylvania, BrightView Landscapes, LLC, a subsidiary of publicly-traded BrightView Holdings, Inc. (NYSE: BV), provides commercial landscaping maintenance, enhancements, development, and snow removal services to commercial customers throughout the United States. About 51% of the voting power of the company's outstanding shares as of May 2026 are held by KKR and One Rock. For the 12 months that ended March 31, 2026, BrightView generated $2.7 billion in revenue. BRODY HOLDINGS: Files Emergency Bid to Use Cash Collateral ---------------------------------------------------------- Brody Holdings, LLC asks the U.S. Bankruptcy Court for the District of Kansas for emergency authorization to use cash collateral and provide adequate protection. The rents and other cash collateral may be subject to the security interests of numerous lenders and creditors, including Community National Bank & Trust, Simmons Bank, Kinetic Commercial Funding, Kansas State Bank, Equity Bank, and several private lenders. The Debtor also seeks a determination that these creditors are adequately protected, turnover or preservation of certain estate property, and a final hearing within 30 days. The Debtor owns multiple income-producing properties in Derby, Rosehill, and Wichita, Kansas. The properties remain operational and generate sufficient rental income to cover expenses and potentially fund a Chapter 11 reorganization plan. The Debtor explains that financial difficulties arose after the Debtor's sole member and manager, Brant Durnford, attempted to diversify into restaurants, coffee shops, and indoor playground businesses beginning in 2024. These ventures required substantial capital, diverting funds from mortgage payments and resulting in several months of arrearages, loan defaults, and foreclosure actions. The Debtor has since exited those ventures and returned its focus to property management. Brody Holdings estimates total secured debt and liens at approximately $12 million but contends that its real estate assets fully secure these claims. Financial records reportedly show net monthly income of about $128,820, demonstrating the Debtor's ability to maintain operations and service debt. The Debtor argues that continued access to cash collateral is essential for paying vendors, maintaining properties, servicing tenants, covering administrative expenses, and preserving asset value. The Debtor also seeks recovery or preservation of rents allegedly intercepted prepetition by Equity Bank, Kinetic Funding, and Simmons Bank. Brody Holdings asserts that secured lenders are adequately protected because they are oversecured and because ongoing operations will preserve collateral values. The Debtor maintains that authorizing cash collateral use is necessary to avoid irreparable harm and maximize recoveries for all creditors through a successful reorganization. A copy of the motion is available at https://urlcurt.com/u?l=iQf7sU from PacerMonitor.com. About Brody Holdings, LLC Brody Holdings, LLC is a Kansas limited liability company wholly owned and managed by Brant Durnford. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Kan. Case No. 26-40399) on May 29, 2026. In the petition signed by Brant Dumford, managing member, the Debtor disclosed up to $50 million in both assets and liabilities. Judge Dale L. Somers oversees the case. Tom R. Barnes II, Esq., at Stumbo Hanson, LLP, represents the Debtor as legal counsel. BRODY HOLDINGS: Seeks to Hire Sarah Bishop CPA as Accountant ------------------------------------------------------------ Brody Holdings, LLC seeks approval from the U.S. Bankruptcy Court for the District of Kansas to employ Sarah Bishop, CPA to provide accounting services in its Chapter 11 case. Ms. Bishop will provide these services: (a) provide applicant with scoring services and is familiar with the applicant; (b) filing any unfled withholding tax reconciliation, and entry posting of documents and journal entries; (c) perform accounting and financial reporting services for the Debtor in the ordinary course of its Chapter 11 administration; and (d) provide additional accounting support services as needed in connection with the Debtor's financial operations during the bankruptcy case. Ms. Bishop will receive compensation at a rate of $2,000 per month for her services, with payment to be made from future earnings of the estate, subject to court approval. According to the application, Ms. Bishop does not hold an interest adverse to the Debtor and is not a creditor or party in interest. She is therefore represented as disinterested for purposes of the engagement, according to court filings. The professional can be reached at: Sarah Bishop, CPA 111 N Baltimore Ave Derby, KS 67037 Phone: (316) 777-4753 About Brody Holdings, LLC Brody Holdings, LLC is a real estate holding company that owns a portfolio of commercial, office, retail, industrial and residential properties in Derby, Rose Hill and Wichita, Kansas. The company's holdings include restaurant, office, retail-center, flex-industrial and single-family residential properties, with several assets concentrated in Derby's Greenway, Baltimore, Market and Madison corridors. Brody Holdings, LLC filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. D. Kan. Case No. 26-40399) on May 29, 2026, listing $16,013,600 in assets and $12,192,492 in liabilities. The petition was signed by Brant Dumford as managing member. Judge Dale L Somers presides over the case. Tom R. Barnes II, Esq. at STUMBO HANSON, LLP serves as the Debtor's counsel. BUBBLES & BARKS: Hires Neeleman Law Group P.C. as Legal Counsel --------------------------------------------------------------- Bubbles & Barks, LLC seeks approval from the U.S. Bankruptcy Court for the Western District of Washington to employ Neeleman Law Group, P.C. as legal counsel. The firm's services include: a. assisting the Debtors in the investigation of the financial affairs of the estate; b. providing legal advice and assistance to the Debtors with respect to matters relating to this case and creditor distribution; c. preparing all pleadings necessary for proceedings arising under this case; and d. performing all necessary legal services for the estate in relation to this case. The firm will be paid at these rates: Principals $600 per hour Associate $475 per hour Paralegal $250 per hour The firm received a retainer in the amount of $10,000. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Ms. Neeleman disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Jennifer L. Neeleman, Esq. Neeleman Law Group, P.C. 1403 8th Street Marysville, WA 98270 Telephone: (425) 212-4800 Facsimile: (425) 212-4802 E-mail: jennifer@neelemanlaw.com About Bubbles & Barks LLC Bubbles & Barks, LLC, based in Monroe, Washington, operates under the trade names Furtician and Barkingham Palace. The company provides grooming, boarding, and daycare services for dogs and cats, including baths, trims, and overnight care. It serves pet owners in the Monroe area, combining routine grooming with extended boarding options. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Wash. Case No. 26-11088) on April 6, 2026. In the petition signed by Gary M. Eggleston Jr., managing member, the Debtor disclosed up to $500,000 in assets and up to $10 million in liabilities. Judge Christopher M. Alston oversees the case. Thomas D. Neeleman, Esq., at Neeleman Law Group, P.C., represents the Debtor as legal counsel. BY THE BOOK: Hires FLP Law Group LLC as Bankruptcy Counsel ---------------------------------------------------------- By The Book Attorney Service, Inc. seeks approval from the U.S. Bankruptcy Court for the Central District of California to employ FLP Law Group LLC as general bankruptcy and reorganization counsel. The firm will provide these services: a. assist Debtor in complying with the requirements of the Office of the United States Trustee("OUST") and to counsel Debtor regarding its duties as Debtor-in-Possession; b. assist in administering the bankruptcy case, marshaling and preserving assets, and formulating a Chapter 11 plan of reorganization; c. appear in the bankruptcy court on Debtor's behalf and to negotiate with the parties-in-interest on behalf of Debtor; d. examine claims filed against the estate and resolve any disputes; e. prosecute avoidance and preference actions, actions to determine the extent of liens, other adversary actions or contested matters; f. assist and guide other professionals, less familiar with the bankruptcy processes and rules, in their work for Debtor; and g. take such other actions and perform such other services as may be required in connection with this Chapter 11 case. The firm will be paid at these rates: Mark J. Pearl $1,250 per hour Marc A. Lieberman $750 per hour Greg Yaris $750 per hour Alan W. Forsley $665 per hour Legal Assistant $235 per hour Heavy data entry and secretarial overtime $45 per hour The firm received a retainer in the amount of $35,000. In addition, the firm will seek reimbursement for its out-of-pocket expenses. Mr. Forsley disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Alan W. Forsley, Esq. FLP LAW Group LLP 1875 Century Park East, Suite 2230 Los Angeles, CA 90067 Tel: (310) 282-7350 Fax: (310) 432-5999 Email: alan.forsley@flpllp.com About By The Book Attorney Service, Inc. By The Book Attorney Service, Inc. filed a Chapter 11 bankruptcy petition (Bankr. C.D. Cal. Case No. 2:26-bk-15240-VZ) on May 27, 2026. The Debtor hires FLP Law Group, LLP as counsel. BY THE BOOK: Seeks Cash Collateral Access ----------------------------------------- By The Book Attorney Service, Inc. asks the U.S. Bankruptcy Court for the Central District of California, Los Angeles Division, for authority to use cash collateral and provide adequate protection. The Debtor explains that its Chapter 11 filing was precipitated by a sudden decline in revenue after co-owner Loza became ill in January 2026 and was unable to continue working, resulting in significant financial strain. The Debtor reports approximately $400,000 in total debt, most of which—about $380,000—is unsecured. Its assets are minimal, consisting primarily of office equipment, approximately $7,541 in cash on the petition date, and about $500 in receivables. Despite these limitations, the Debtor projects a modest recovery, estimating monthly income of approximately $28,000 with a net monthly profit of about $1,288 going forward. A key component of the Debtor's obligations is a Small Business Administration Economic Injury Disaster Loan originally issued in June 2020 in the amount of $337,400. The loan was later modified in 2022 to provide for deferred payments of $1,642 per month, with full repayment over 30 years at 3.75% interest. The SBA secured its interest by filing a UCC-1 financing statement covering essentially all of the Debtor's personal property, including inventory, accounts, and general intangibles, and later filed a continuation in 2025. According to the Debtor, the SBA appears to be the only secured creditor, and its collateral is primarily limited to the Debtor's cash and receivables, valued at roughly $8,041 at the time of filing. The Debtor argues that it must be permitted to use cash collateral—including existing cash on hand, receivables, and future income—to continue operations and avoid immediate shutdown. It proposes to provide adequate protection to the SBA through a combination of continued business operations that generate new receivables, a replacement lien on post-petition assets to the extent of the SBA's prepetition security interest, and the assertion that maintaining the business as a going concern will preserve or enhance overall collateral value. The Debtor contends that without access to cash collateral, it would be unable to pay operating expenses and would be forced to cease operations, destroying any going-concern value. A copy of the motion is available at https://urlcurt.com/u?l=PoZVhv from PacerMonitor.com. About By The Book Attorney Service, Inc. By The Book Attorney Service, Inc. provides litigation support services including service of process, court e-filings, document recording with the Los Angeles County Recorder's Office, and skip tracing. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Cal. Case No. 2:26-bk-15240) on May 27, 2026. In the petition signed by Tamar David, chief executive officer, the Debtor disclosed up to $50,000 in assets and up to $500,000 in liabilities. Alan W. Forsley, Esq., at FLP Law Group, LLP, represents the Debtor as legal counsel. C & P AUTO: Unsecureds Will Get 10% of Claims over 60 Months ------------------------------------------------------------ C & P Auto Service Center, Inc. filed with the U.S. Bankruptcy Court for the Northern District of Illinois a Disclosure Statement describing Plan of Reorganization dated June 1, 2026. The Debtor's principal, Nathan Edwards, started a door-to-door business selling cleaning products in 1980. The main product is an all-purpose concentrated cleaner called Advanage Wonder Cleaner. In December of 2020, the Debtor obtained a secured loan from the U.S. Small Business Administration in the amount of $150,000. The loan was increased to $200,000 in June of 2021. The Debtor's revenues were reduced by the loss of door-to-door business and the difficulties in transitioning to e-commerce. The Debtor has had to recruit new salespeople to replace those that left during the height of the pandemic. The Debtor's best months for revenue remain the nonwinter months, when their door-to-door business is less affected by inclement weather. The Debtor's Plan of Reorganization provides for payment of a 10% distribution, in quarterly payments over 60 months, to general unsecured creditors. A "convenience class" of general unsecured creditors with claims of $1,000 or less will be paid a 100% distribution on the first day of the calendar quarter after the Effective Date of the Plan. Secured creditors will be paid in full, with interest at 6% per annum, amortized over 30 years, with a balloon payment due at the end of five years. The priority portion of the claims of the Internal Revenue Service and Illinois Department of Revenue will be paid in full, with 6% interest, over 55 months, and the general unsecured claims of the Internal Revenue Service and Illinois Department of Revenue will be paid a 10% distribution in quarterly payments over 60 months. The Debtor projects sufficient income to pay all required payments under the plan. Class V claims of all other unsecured creditors of the Debtor with remaining balances due, as the same are allowed and ordered paid by the court. Claims in this class total $5,143.61. This class is impaired. All other general unsecured claims with balances due. The total amount of these claims is $5,143.61. These claims will receive a 100% distribution, in equal quarterly payments commencing on the first day of the calendar quarter following the Effective Date of the Plan, and continuing for five years. The quarterly payment on all claims in this class will be approximately $257.19/quarter. Class VI claims of general unsecured creditors who have been paid by the Debtor during the pendency of this case. This class consists of four creditors. he Debtor made periodic payments during the pendency of this case to four general unsecured creditors, Balboa Capital, Fifth Third Bank, Quill, and URS Agent LLC. The total of these payments is under $35,000. The Debtor computes that the present value of the payments made to these creditors exceeds the distribution that would have been made to the creditors under the plan, and the plan does not provide for further payment to these creditors. Class VII claims of insiders, consisting of Nathan T. Edwards and Ruth M. Edwards. These claims will not be paid under the Plan. This class is impaired but will not be entitled to cast a ballot on the Plan. The sole owner of the Debtor is Nathan T. Edwards, who is the president of the Debtor. Mr. Edwards will continue to be the sole owner of the Debtor corporation. The Plan provides for the current shareholder of the Debtor, Nathan T. Edwards, to retain his equity interest in the debtor corporation, with payment of $1,000.00 in new value as required to satisfy the "absolute priority rule" under Section 1129(b)(2) of the Bankruptcy Code. The Debtor will deposit at least $650.20/month to the distribution account for payment of the monthly distribution on the priority portion of the Internal Revenue Service claim. The Debtor will monthly deposits to a distribution account, commencing on the first day of the calendar month following the Effective Date, in the amount of $112.87/month, to pay the distribution on the general unsecured claims in Classes I and V. The Debtor will pay secured and administrative expense claims from its post-confirmation income. A full-text copy of the Disclosure Statement dated June 1, 2026 is available at https://urlcurt.com/u?l=Rd6ZOF from PacerMonitor.com at no charge. The firm can be reached at: David P. Lloyd, Esq. 615B S. LaGrange Rd. LaGrange IL 60525 Tel: (708) 937-1264 Fax: (708) 937-1265 About C & P Auto Service Center, Inc. C & P Auto Service Center Inc., operating under the trade name Weber Swift Car Care, provides automotive repair and maintenance services, including tire sales, routine maintenance, diagnostics, and general auto repairs. C & P Auto Service Center Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 25-15215) on October 2, 2025. In its petition, the Debtor reports estimated total assets of $10,600 and total liabilities of $1,717,076. Honorable Bankruptcy Judge Janet S. Baer handles the case. The Debtor is represented by David P. Lloyd, Esq., of David P. Lloyd, Ltd. C & S ADKINS: Seeks Cash Collateral Access ------------------------------------------ C & S Adkins Enterprises, Inc. asks the U.S. Bankruptcy Court for the Southern Districtof Indiana, Indianapolis Division, for authority to use cash collateral and provide adequate protection. The Chapter 11 filing was driven primarily by financial strain from merchant cash advance lenders, though Jackson County Bank is identified as the primary senior secured creditor, with a perfected blanket lien subject to certain purchase-money security interests. The Debtor proposes to provide adequate protection payments only to Jackson County Bank while granting replacement liens to protect secured creditors' interests in cash collateral. The Debtor explains that financial difficulties stemmed largely from the costly purchase and relocation to the Debtor's owned premises, which resulted in budget overruns and cash flow disruptions despite the business's continued growth and strong underlying real estate equity. Prior to bankruptcy, liquidity was primarily generated through operating revenue, supplemented by high-interest online lenders used to bridge funding gaps, with limited cash reserves and minimal inventory value and no accounts receivable. The Debtor asserts that continued access to cash collateral—consisting of cash, receivables, and operating proceeds—is essential to maintain operations, pay post-petition expenses, and avoid irreparable harm to enterprise value. The proposed interim use of cash collateral, governed by an attached budget, totals approximately $15,645 between the interim and final hearing periods. The Debtor does not seek additional post-petition financing. A copy of the motion is available at https://urlcurt.com/u?l=YXMZql from PacerMonitor.com. About C & S Adkins Enterprises, Inc. C & S Adkins Enterprises, Inc. is a Greensburg, Indiana-based community bakery and restaurant that has expanded into breakfast, lunch, dinner, and catering services. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Ind. Case No. 26-03473-JJG-11) on May 29, 2026. In the petition signed by Stefanie Adkins, president, the Debtor disclosed up to $1 million in both assets and liabilities. Judge Jeffrey J. Graham oversees the case. KC Cohen, Esq., at KC Cohen, Lawyer, PC, represents the Debtor as legal counsel. C & S MARKET: Seeks Cash Collateral Access ------------------------------------------ C & S Market Research LLC asks the U.S. Bankruptcy Court for the Eastern District of California, Fresno Division, for authority to use cash collateral and provide adequate protection. The cash collateral consists primarily of rental income generated from its property located at 1825 18th Street in Bakersfield, California. Beginning in April 2026, the Debtor has been collecting rent from a tenant at the property and requests permission to use those funds to pay expenses necessary to maintain, operate, and preserve the value of the real estate for the benefit of the bankruptcy estate and its creditors. The Debtor emphasizes that failure to maintain the property would significantly reduce its value and harm both the estate and all creditors. The cash collateral at issue is subject to a secured claim held by Velocity Mortgage, which is owed approximately $518,132 under a July 2024 mortgage loan secured by the property. The Debtor proposes to use the rental income in accordance with the budget, which includes expenses related to upkeep, maintenance, and preservation of the property pending plan confirmation. The Debtor confirms that all required parties, including secured creditors and the U.S. Trustee, have been served with notice, and that supporting materials include declarations, exhibits, and a proposed order. A copy of the motion is available at https://urlcurt.com/u?l=8zrfIE from PacerMonitor.com. About C & S Market Research LLC C & S Market Research LLC sought relief under Chapter 11 of the Bankruptcy Code (Bankr. E.D. Cal. Case No. 26-10743) on Feb. 25, 2026, listing up to $1 million in both assets and liabilities. Judge Rene Lastreto II oversees the case. The Law Offices of Michael Jay Berger serves as the Debtor's counsel. CALLAHAN ENTERPRISES: Gets Final Court Nod to Use Cash Collateral ----------------------------------------------------------------- The U.S. Bankruptcy Court for the District of Arizona entered a final order authorizing Callahan Enterprises, LLC to continue using cash collateral through August 11. Under the final order, the Debtor is authorized to use cash collateral solely for ordinary and necessary business operations in accordance with a court-approved final budget. The Debtor is not allowed to exceed budgeted cumulative operating disbursements by more than 10%. As adequate protection, the U.S. Small Business Administration and other secured creditors will be granted replacement liens on all post-petition assets acquired by the Debtor, including cash collateral, with the same validity, priority, and extent as their pre-petition liens. As additional protection, the Debtor is required to make monthly payments of $438.50 to the SBA, which holds a first-priority lien on the cash collateral. These payments are due on the 15th day of each month. The order provides for anticipated administrative expenses by requiring the Debtor to pay $2,000 monthly to the Subchapter V Trustee and $5,000 monthly to the Debtor's counsel, to be held in trust pending court approval of their fees and expenses. The final order is available at http://bankrupt.com/misc/CallahanEnterprises_FCCOrder.pdf About Callahan Enterprises LLC Callahan Enterprises, LLC provides heavy-duty automotive repair services, maintains two leased locations in Mesa, Arizona. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Ariz. Case No. 2:26-bk-04051-SHG) on April 24, 2026. In the petition signed by Preston M. Callahan, the Debtor disclosed up to $500,000 in assets and up to $1 million in liabilities. Judge Scott H. Gan oversees the case. M. Preston Gardner, Esq., at Davis Miles, PLLC, represents the Debtor as legal counsel. CENTER FOR EMOTIONAL: Gets Extension to Use Cash Collateral ----------------------------------------------------------- The U.S. Bankruptcy Court for the Eastern District of North Carolina, Raleigh Division issued its eighth order granting Center for Emotional Health, PC interim approval to use cash collateral. Under the interim order, the Debtor is authorized to use cash collateral from June 11 through July 10, in accordance with an approved budget, subject to a 10% variance. The Debtor projects total operational expenses of $513,607. Secured creditors including Newtek Small Business Funding, LLC and the U.S. Small Business Administration assert interest in the cash collateral, which may include the Debtor's revenues. The Debtor owes Newtek and the SBA $2,195,324 and $1,969,205, respectively. As adequate protection, secured creditors will be granted a lien on the Debtor's revenue and other assets generated or acquired after the petition date, with the same extent and priority as their pre-bankruptcy lien. Additionally, $15,000 has been set aside in escrow for the patient care ombudsman's fees. The interim order is available at https://shorturl.at/J9mb9 from PacerMonitor.com. The next hearing is scheduled for June 25. Center for Emotional Health asserts that no alternative exists to using the cash collateral to fund its operating expenses and that its use is necessary to preserve the Debtor's ability to rehabilitate under Chapter 11. The estate's revenue from its operations constitutes cash collateral in which multiple secured creditors including the SBA, Newtek, People's Bank of Commerce/BHG, Fox Funding Group, LLC, Square Advance, Overton Funding, LLC, Bizfund, LLC, Montcfi (Mr. Advance), and Wynwood Capital Group may have a secured interest, with balances ranging from approximately $174,000 to over $2.1 million. About Center for Emotional Health PC Center for Emotional Health, PC provides outpatient mental health services, including therapy for children and adults, counseling, and medication management, operating from Salisbury, North Carolina. The practice offers treatment for substance-use disorders and specialized programs for veterans, serving patients through a combination of individual and group sessions. It is classified within the healthcare industry, specifically in behavioral and mental health services. Center for Emotional Health sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. N.C. Case No. 25-04478) on November 10, 2025, listing between $1 million and $10 million in both assets and liabilities. Jonathan Stoudmire, president of Center for Emotional Health, signed the petition. Judge Pamela W. McAfee oversees the case. Philip M. Sasser, Esq., at Sasser Law Firm represents the Debtor as bankruptcy counsel. George F. Sanderson, III and Suzanne Koenig serve as the Debtor's Chapter 11 trustee and patient care ombudsman, respectively. The Chapter 11 trustee tapped The Sanderson Law Firm, PLLC and Hendren, Redwine & Malone, PLLC as legal counsel. The PCO tapped Fox Rothschild, LLP as legal counsel and SAK Management Services, LLC as medical operations advisor. CENTURY COMMUNITIES: Moody's Alters Outlook on Ba2 CFR to Negative ------------------------------------------------------------------ Moody's Ratings affirmed Century Communities, Inc.'s corporate family rating at Ba2, its probability of default rating at Ba2-PD and the senior unsecured notes rating at Ba2. The speculative grade liquidity (SGL) rating is maintained at SGL-2. The rating outlook was changed to negative from stable. "The negative outlook reflects Moody's expectations of a continued deterioration in earnings and credit metrics in 2026, driven by sustained softness in housing demand, particularly for the entry-level buyer," said Griselda Bisono, VP-Senior Credit Officer at Moody's Ratings. Homebuilders are sustaining sales through incentives and product repositioning, which supports absorption, but limits pricing power and reduces operating margins. Geopolitical uncertainty driven by the Middle East conflict coupled with higher mortgage interest rates has eroded consumer sentiment and led to a weaker 2026 spring selling season. Moody's expects Century Communities' EBIT margin will remain around 5.5% in 2026, resulting in weak interest coverage of about 2.6x. Margin recovery in 2027 will hinge on lower mortgage rates to help spur buyer demand and, to a lesser extent, on the company's ability to reduce costs. The affirmation of the Ba2 CFR reflects Century Communities good liquidity and modest debt/book capitalization. Liquidity benefits from expected generation of $100 million of positive free cash flow annually in 2026 and 2027, no near-term maturities, ample financial covenant cushion and access to alternate sources of liquidity in the form of owned land supply. RATINGS RATIONALE Century's Ba2 CFR is supported by the company's broad geographic footprint and good market position in the first-time and entry-level homebuyer segment, with favorable price points given customers' preferences for more affordable offering. The company maintains a conservative financial strategy, including low leverage and good liquidity. However, profitability-based credit metrics such as interest coverage and debt/EBITDA are currently weak for the rating category, reflecting the erosion in profitability and use of incentives in a soft market. Century has a very high level of speculative home construction that makes up around 99% of deliveries and which increases the risk of elevated unsold home inventory during a downturn. The company also engages in shareholder-friendly actions in a form of share repurchases and dividends, although Moody's expects these to be modest over the next 12-18 months. Finally, the rating reflects the cyclicality of the homebuilding industry including near-term market softness and exposure to volatility in results, along with affordability pressures in the US broadly impacting homebuyers' demand with the entry-level buyer category being the most sensitive to affordability constraints. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS The ratings could be upgraded if the company meaningfully expands its scale and improves product diversity while maintaining conservative financial policies, including with respect to acquisitions and shareholder friendly actions. An upgrade would also reflects debt to book capitalization sustained below 35%, maintenance of EBIT margins at strong levels and interest coverage above 6.0x. Maintenance of good liquidity, including strong positive cash flow, would also be important factors for a ratings upgrade. The ratings could be downgraded if end market conditions deteriorate causing a significant decline in revenue and EBIT margin and an increase in impairments such that debt to book capitalization approaches 45% and interest coverage declines below 5.0x. Additionally, ratings could be downgraded if the company pursues aggressive shareholder friendly activities or large-scale debt funded acquisitions; or if its liquidity profile were to deteriorate. Century Communities, Inc., founded in 2002 and headquartered in Greenwood Village, Colorado, is a builder of single-family homes, townhomes, and flats, focusing on the entry-level product segment. The company operates in 45 major metropolitan markets in 17 states. In the last 12 months ended March 31, 2026, Century generated $3.9 billion in revenue and $101 million in net income. The principal methodology used in these ratings was Homebuilding and Property Development 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. CHAMPION HOME: Seeks Cash Collateral Access ------------------------------------------- Champion Home Investments LLC asks the U.S. Bankruptcy Court seeking court authorization to use cash collateral and provide adequate protection. The Debtor is a New Jersey–based company that owns and manages five residential rental properties in Newark, each consisting of two- or three-unit buildings that generate substantially all of the Debtor's income through tenant rent payments. The properties are encumbered by mortgages held by entities including Shellpoint Mortgage Servicing and Wilmington Savings (through Selene Finance), with several loans in default and foreclosure proceedings already pending on multiple properties. The Debtor explains that without access to rental income (cash collateral), Champion would be unable to pay critical operating expenses such as insurance, taxes, utilities, maintenance, vendor costs, and management fees, which would quickly jeopardize the value and viability of the rental portfolio. The Debtor proposes adequate protection primarily through replacement liens on post-petition rents and by continuing monthly mortgage payments under the existing loan terms, including principal, interest, and escrow. The proposed budget would govern permitted expenditures, and the Debtor seeks authority to operate within that budget to preserve the properties as a going concern. A copy of the motion is available at https://urlcurt.com/u?l=DHMphJ from PacerMonitor.com. About Champion Home Investments LLC Champion Home Investments LLC is a real estate investment company that owns residential properties in Newark, New Jersey. The company's holdings include properties on South 12th Street, 9th Avenue West, South 11th Street, Grand Avenue and Whittier Place. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. N.J. Case No. 26-15831) on May 22, 2026. In the petition signed by Joaquim Ferreira, sole member, the Debtor disclosed $3,700,000 in total assets and $2,648,684 in total liabilities. Karl J. Norgaard, Esq., at NORGAARD OBOYLE HANNON, represents the Debtor as legal counsel. CHARLES EDWARD LINCOLN III: Court Tosses Rule 5011(d) Motion ------------------------------------------------------------ Judge Robert H. Jacobvitz of the U.S. Bankruptcy Court for the District of New Mexico denied the motion of Charles Edward Lincoln, III for stay under Fed. R. Bankr. P. 5011(d). On May 31, 2026, Debtor filed Debtor's Motion to Withdraw Order of Reference Pursuant to 28 U.S.C. Sec. 157(d) and Rule 5011 of the Federal Rules of Civil Procedure ("Motion to Withdraw the Reference"), which included a request to cancel the final hearing on the United States Trustee's Motion for Determination the Automatic Stay Does Not Apply Pursuant to 11 U.S.C. Sec. 362(b)(4) or, in the Alternative, Relief from the Automatic Stay under 11 U.S.C. Sec. 362(d)(1) ("Stay Motion"). At the outset of the final hearing on the Stay Motion, Debtor made an oral motion under Fed. R. Bankr. P. 5011(d) to stay proceedings (the "Rule 5011(d) Motion"), including the final hearing on the Stay Motion, pending the United States District Court's ruling on the Motion to Withdraw the Reference. It appears from the Motion to Withdraw the Reference that Debtor seeks to withdraw the reference of: 1. The Stay Motion; 2. Debtor's Combined Motions: (a) For Further Findings of Fact and Conclusions of Law, (b) To Amend or Alter Judgment, and (c) For Relief from Judgment (entered May 11, 2026) Pursuant to Rules 9023 and 9024: Debtor's Motion to Disqualify Daniel A. White & Mary L. Johnson is not Moot (the "Motion for Reconsideration"), which seeks relief from the Court's Order Denying Motion to Disqualify as Moot; 3. Issues relating to the procedural aspects of the final hearing on the Stay Motion (i.e., that Debtor should have been given an opportunity to present Touhy witnesses at the final hearing on the Stay Motion); and 4. What Debtor characterizes as the "illegal" "intra-circuit transfer" of Debtor's bankruptcy case from United States Trustee Region 20 to United States Trustee Region 19 (which appears to relate to Debtor's arguments regarding disqualification of attorneys Daniel White and Mary Johnson, attorneys for the United States Trustee). Debtor also asserts in the Motion to Withdraw the Reference that the automatic stay under 11 U.S.C. Sec. 362 should remain in place so he may apply for coverage under the "AntiWeaponization Fund." The Bankruptcy Court finds the Debtor has failed to meet his burden of demonstrating that a stay pending the outcome of the Motion to Withdraw the Reference is appropriate. Defendant has not demonstrated a likelihood that the District Court will grant the Motion to Withdraw the Reference with respect to the contested matters or the other issues identified in the Motion to Withdraw the Reference. The Stay Motion seeks a determination that the automatic stay does not apply under 11 U.S.C. Sec. 362(b)(4), or, in the alternative, relief from the automatic stay under 11 U.S.C. Sec. 362(d). The Bankruptcy Court say mandatory abstention does not apply to withdrawal of the reference of the contested matter initiated by the filing of the Stay Motion. Judge Jacobvitz explains, "The bankruptcy court determines on a regular basis the scope of the automatic stay and whether relief from the automatic stay should be granted, Such determinations fall within the Bankruptcy Court's area of specialized expertise. Further, the District Court has determined that resolution of the matters currently at issue in the adversary proceeding that is the subject to the Stay Motion does not require 'substantial and material' consideration of non-Bankruptcy Code federal statutes. The Debtor has not shown that District Court is likely to withdraw the reference with respect to the Stay Motion and thereby assume a core function of the bankruptcy court." Accordingly, the Rule 5011(d) Motion is denied. A copy of the Court's Memorandum Opinion and Order dated June 9, 2026, is available at https://urlcurt.com/u?l=598sl3 from PacerMonitor.com. Charles Edward Lincoln, III filed for Chapter 11 bankruptcy protection (Bankr. D. N.M. Case No. 26-10131) on February 2, 2026, listing under $1 million in both assets and liabilities. The Debtor is represented by Michael Tusken, Esq. CHEESE SHOP: Files Emergency Bid to Use Cash Collateral ------------------------------------------------------- The Cheese Shop LLC asks the U.S. Bankruptcy Court for the Middle District of North Carolina, Durham Division, for authority to use cash collateral and provide adequate protection. The company, formed in 2022 and employing 14 people, argues that its primary income comes from ongoing operations, and that without access to operating cash flow it would be forced to shut down, causing immediate and irreparable harm to the estate and reducing value for creditors. The Debtor explains that several secured creditors—including Carolina Community Impact, Inc. (with an SBA-guaranteed loan of about $406,304 outstanding), WebBank (with about $130,338 owed through business loans), and unidentified parties represented by Corporation Service Company—claim security interests in the Debtor's assets, including inventory, receivables, and proceeds. The Debtor believes that these assets constitute cash collateral requiring court approval for use. To protect creditors, the Debtor proposes granting them replacement liens on post-petition assets with the same priority as their pre-petition liens. The company seeks permission to use cash collateral to cover necessary operating expenses, with the understanding that a detailed budget will be provided and subject to a 10% variance. It also requests expedited interim approval to avoid disruption of operations, DIP bank accounts to manage funds, and authority to continue using cash collateral through confirmation of a reorganization plan, sale of assets, or conversion to Chapter 7. A copy of the motion is available at https://urlcurt.com/u?l=fRHZpc from PacerMonitor.com. About The Cheese Shop LLC The Cheese Shop LLC operates Wedgewood Cheese Bar, a restaurant and event space in Carrboro, North Carolina. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. N.C. Case No. 26-80175) on May 29, 2026. In the petition signed by Stevie Lee Webb, managing member, the Debtor disclosed up to $500,000 in assets and up to $10 million in liabilities. Judge Benjamin A. Kahn oversees the case. Lydia C. Carpenter, Esq., at Hendren, Redwine & Malone, PLLC, represents the Debtor as legal counsel. CHOICE ELECTRIC: Gets Extension to Access Cash Collateral --------------------------------------------------------- Choice Electric, LLC received another extension from the U.S. Bankruptcy Court for the District of Colorado to use cash collateral. The court extended the Debtor's authority to use cash collateral through July 31 in accordance with an approved budget. The Debtor is not permitted to exceed any budget line item by more than 10% without Byline Bank's consent and pay obligations outside the budget. The Debtor is also generally prohibited from paying pre-petition debts without further court approval, except for certain construction trust fund obligations that may not constitute estate property under Colorado law. Byline Bank holds valid and perfected liens on substantially all of the Debtor's assets, including inventory, equipment, accounts, deposit accounts, and cash collateral, securing debt of at least $2.3 million. As adequate protection, Byline Bank will receive first-priority replacement liens on post-petition assets to the same extent and priority as its pre-petition liens, excluding Chapter 5 avoidance actions. In addition, the Debtor must maintain collateral in good repair, keep it insured, and continue providing monthly payments totaling $30,000, beginning this month. The Debtor is also required to maintain at least $450,000 in accounts receivable at the end of each month and submit detailed monthly financial and operational reports to the bank. The Debtor's authority to use cash collateral will terminate on July 31 or upon occurrence of certain events including conversion of its Chapter 11 case to Chapter 7, appointment of a trustee, uncured defaults or material adverse financial changes, whichever occurs first. The order is available at https://shorturl.at/TP7Qc from PacerMonitor.com Choice Electric aims to preserve business value and reorganize its debts while continuing operations. At the time of filing, the Debtor had limited cash but significant accounts receivable, which have since grown substantially, along with its overall cash position. Byline Bank is owed over $2.3 million, but the collateral securing its claim is worth less, rendering it undersecured and effectively the only creditor with a secured interest in the Debtor's cash collateral. Other potential liens exist but are either subordinate or minimal in comparison. About Choice Electric Choice Electric, LLC, established in 1985, is a full-service electrical contractor serving the Greater Denver area, including Lakewood, Aurora, Littleton, and Boulder, Colorado. The Company specializes in commercial and industrial projects, providing design and installation, system upgrades and tenant improvements, new construction wiring, and ongoing maintenance, while also offering custom electrical solutions for high-end residential homes. It serves a range of sectors, including commercial and office buildings, warehouses, entertainment venues, retail spaces, community facilities, airports, hangars, and municipal buildings. Choice Electric filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. D. Colo. Case No. 25-17873) on Dec. 1, 2025, listing up to $10 million in both assets and liabilities. The petition was signed by Eric Berger as general manager. Judge Thomas B. McNamara presides over the case. The Debtor tapped Jeffrey A. Weinman, Esq., at Michael Best & Friedrich, LLP as legal counsel; Martin, Vejvoda and Associates as accountant; and Dutkiewicz & Associates, LLC as financial consultant. CIRCLE D TRUCK: Voluntary Chapter 11 Case Summary ------------------------------------------------- Debtor: Circle D Truck Sales Inc. d/b/a FTSR 2361 FM 3034 Abilene, TX 79601 Business Description: Circle D Truck Sales, Inc. is a truck and trailer sales and service company based in Abilene, Texas. Founded in 1984, the company operates two facilities providing truck and trailer sales, repair and certification, hauling, mobile mechanic services, rigging, and painting. Circle D Truck Sales also offers oilfield tanker trailers and custom unit build or sourcing services for oilfield, environmental, and construction equipment applications. Chapter 11 Petition Date: June 8, 2026 Court: United States Bankruptcy Court District of Northern District of Texas Case No.: 26-10143 Judge: s to evaluate possible disqualification or Debtor's Counsel: Weldon L. Moore, III, Esq. SUSSMAN & MOORE, LLP 2911 Turtle Creek Blvd., Suite 1100 Dallas, TX 75219 Tel: 214-378-8270 Fax: 214-378-8290 E-mail: wmoore@csmlaw.net Estimated Assets: $0 to $50,000 Estimated Liabilities: $1 million to $10 million The petition was signed by Lee Dill as president. The Debtor did not submit a list of its 20 largest unsecured creditors along with the petition. A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/QYZWK4Y/Circle_D_Truck_Sales_Inc__txnbke-26-10143__0001.0.pdf?mcid=tGE4TAMA CLEARSIDE BIOMEDICAL: Wins Approval for $4MM Chapter 11 Asset Sale ------------------------------------------------------------------ Clara Geoghegan of Law360 Bankruptcy Authority reports that Clearside Biomedical, a biotechnology company focused on treatments for retinal and other eye diseases, obtained court approval Tuesday for a $4 million Chapter 11 asset sale in Delaware. The sale will be completed with the company's stalking-horse bidder after no competing offer surpassed the initial proposal. According to court filings and hearing discussions, the debtor conducted a marketing effort to solicit interest from potential buyers but ultimately concluded that the stalking-horse bid delivered the highest and best value available. The bankruptcy judge approved the transaction, finding it appropriate under the circumstances of the case. The sale marks an important milestone in Clearside's bankruptcy proceedings and is intended to preserve value from the company's technology and development programs. Company officials said the transaction provides a path to monetize assets while advancing the broader restructuring and creditor recovery process, the report relays. About Clearside Biomedical Inc. Clearside Biomedical, Inc., is a biopharmaceutical firm specializing in the development and commercialization of treatments for eye diseases. Clearside Biomedical Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 25-12109) on Nov. 23, 2025. In its petition, the Debtor estimated assets of up to $10 million and estimated liabilities of up to $100 million. The Debtor tapped Cooley LLP and Richards, Layton & Finger, PA as counsel; Epiq Corporate Restructuring, LLC as administrative advisor; and Berkeley Research Group, LLC as financial advisor. CLICKSPRING DESIGN: Taps Mueller Pye as Accounting Professional --------------------------------------------------------------- Clickspring Design, Inc. seeks approval from the U.S. Bankruptcy Court for the District of Arizona to employ Mueller Pye & Associates CPA LLC to serve as its accounting professional. The firm will provide these services: (a) assisting with maintenance or review of books and records and post-petition accounting matters; (b) preparing or assisting in the preparation of federal, state, and local tax returns; (c) assisting with tax compliance, tax planning, and responses to taxing authority notices; (d) assisting with schedules, statements, operating reports, and other financial information required in Chapter 11 cases; (e) consulting regarding tax claims, tax attributes, and tax consequences of proposed transactions or a plan of reorganization; and (f) coordinating with the Debtor's counsel and other professionals as appropriate. Mueller Pye & Associates will receive monthly core service fees of $664, effective June 1, 2026 through December 31, 2026, plus hourly rates for specialized services ranging from $240 to $545 depending on personnel, including managing director Robyn Pye at $360. Mueller Pye & Associates CPA LLC is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code, according to court filings. The firm can be reached at: Robyn Pye MUELLER PYE & ASSOCIATES CPA LLC 814 East Avenue, Suite F Katy, TX 77493 Telephone: (281) 665-7973 Website: www.mpa.cpa About Clickspring Design Inc. Clickspring Design, Inc. is a design firm formed in 2006 by Erik Ulfers. It provides broadcast design, experiential design, TV show set and graphics design, and branded environment design for consumer and broadcast use. Its work includes immersive, narrative-based environments and participatory, content-rich programs for contexts including broadcasters, cities, corporations, institutions, and individuals. Clickspring Design sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Ariz. Case No. 26-04352) on May 1, 2026, with $100,000 to $500,000 in assets and $1 million to $10 million in liabilities. Glenn Erik Ulfers, chief executive officer, signed the petition. Judge Madeleine C. Wanslee presides over the case. Allan D. NewDelman, Esq., at Allan D. NewDelman, PC represents the Debtor as counsel. COLOSSUS ACQUIRECO: Moody's Rates New Sr. Secured Term Loan 'Ba1' ----------------------------------------------------------------- Moody's Ratings assigned a Ba1 rating to Colossus AcquireCo LLC's (Colossus) proposed senior secured term loan and concurrently affirmed the Ba1 rating on the company's existing senior secured term loan. Moody's also affirmed the ratings of all the related Colossus subsidiaries, including Colonial Pipeline Company's (CPC) Baa3 senior unsecured notes rating, and Colonial Enterprises, Inc.'s (CEI) Baa3 long term issuer rating, Baa3 senior unsecured notes rating and P-3 short-term commercial paper rating. The rating outlook remains stable for all three entities. Colossus plans to issue about $425 million of incremental debt as an add-on to the $2.9 billion term loan it issued in June 2025. Debt proceeds will be used to pay a dividend to the company's sponsor, Brookfield Infrastructure Partners L.P. (BIP, unrated) and its institutional partners (collectively, "Brookfield Infrastructure"). As a part of this transaction, Colossus plans to amend the term loan agreement to extend the maturity date by six months to January 2033, remove the 1% per annum mandatory amortization requirement, and reset the 101 soft call feature for six months. Colossus will also enter into interest rate swap agreements to protect its floating rate exposure related to the incremental term loan amount. "While the added debt will raise consolidated financial leverage closer to Moody's 6x debt/EBITDA downgrade trigger, Moody's expects some EBITDA growth and continued prudent distribution policy through 2027 to preserve some cushion at the current ratings," said Sajjad Alam, Moody's Ratings Vice President. "Moody's expects leverage to remain in the 5x-5.5x over the medium term, in order to leave some room for earnings variability caused by volume fluctuations and periodic rate settlements or operational events." RATINGS RATIONALE Colossus' Ba1 rating reflects the underlying credit quality of CPC and CEI, together referred to as "Colonial." Colonial's Baa3 senior unsecured ratings reflect the consolidated business's overall Baa3 credit quality, Colonial's priority position in the capital structure, and Moody's expectations that Colonial will continue to hold about half of the consolidated debt. Colossus' senior secured term loan is rated Ba1, one notch below Colonial's Baa3 rating, consistent with Moody's standard notching for investment-grade issuers and the holding company debt's subordinated position in the consolidated capital structure. The ratings are supported by Colonial's strong business profile, long operating history and stable cash flow. Colonial is the largest and lowest cost refined products pipeline in the US that benefits from strong end-market demand, a diversified customer base comprised of refiners, marketers, airports and government agencies, and a fee-based revenue model having minimal direct commodity price exposure. The pipeline has a strong market position with high barriers to entry and a proven history of maintaining high throughput volumes across various economic conditions. The ratings are constrained by Colossus' high consolidated financial leverage, reliance on a single pipeline for most of its cash flow, and exposure to the risks of declining demand for refined products over the long term. Moody's expects Colossus will maintain very good liquidity through 2027. The liquidity profile is underpinned by Colonial's reliable free cash flow generation, its anticipated earnings growth and access to an undrawn $500 million revolving credit facility at CEI. The revolver expires in 2030 and has only one financial covenant (maximum net leverage of 5.75x), which the company should be able to meet with ample cushion. CEI also has a $500 million commercial paper (CP) program, which is fully backstopped by the revolving credit facility. Colossus' stable outlook is based on the pipeline's predictable cash flow and Moody's expectations of declining leverage through 2027, primarily through organic earnings growth. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS To consider an upgrade, Moody's would look for meaningful debt reduction, a track record of consistent financial policies, and management delivering its planned EBITDA and asset growth over the medium term. Colossus will also need to sustain the consolidated debt/EBITDA below 5x and maintain high pipeline utilization without facing new rate challenges from its customers. A downgrade could occur if Colossus' consolidated debt/EBITDA rises above 6x or the company sustains a significant operational disruption or a material adverse legal judgment. The rating could also be downgraded if Colossus' interest coverage falls below 2x based on its standalone debt and distributions from its operating subsidiaries. Weak liquidity, or debt-funded growth, acquisitions or shareholder distributions could also trigger a downgrade. The principal methodology used in these ratings was Midstream Energy published in October 2025. COMMUNITY AUTOMOTIVE: Gets Final Court Nod to Use Cash Collateral ----------------------------------------------------------------- The U.S. Bankruptcy Court for the Western District of Washington At Seattle entered a final order authorizing Community Automotive Repair, LLC to use cash collateral. Under the final order, the Debtor is authorized to use cash collateral based on an approved budget and is permitted to exceed budgeted amounts by up to 15%, if necessary. The Debtor's cash collateral consists primarily of operating funds held in its bank accounts. The secured creditors with interests in the cash collateral include Kalamata Capital, OnDeck Capital, Funding Metrics LLC, Velocity Capital Group, and Stripe Capital, each holding UCC-1 security interests in future receivables or substantially all assets. The Debtor estimates total outstanding secured claims at $177,902, while its available cash collateral is $24,988 as of the petition date. As adequate protection, secured creditors will be granted replacement liens on the Debtor's post-petition cash, accounts receivable, inventory, and related proceeds. These replacement liens maintain the same extent, validity, and priority as the creditors' properly perfected pre-petition liens. The authorization to use cash collateral will remain in effect until the earlier of confirmation of a Chapter 11 plan or August 10, unless the court orders otherwise. The order preserves the rights of any party in interest to seek additional relief under the Bankruptcy Code. A copy of the court's order and the Debtor's budget is available at https://tinyurl.com/yww49sub from PacerMonitor.com. About Community Automotive Repair LLC Community Automotive Repair, LLC operates a small automotive repair business. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Wash. Case No. 26-10953) on March 27, 2026. In the petition signed by Gregory Hulse, owner, the Debtor disclosed up to $500,000 in both assets and liabilities. Judge Timothy W. Dore oversees the case. Karen E. Richmond, Esq., at Richmond Hill, PLLC, represents the Debtor as legal counsel. COMPREHENSIVE HEALTHCARE: PCO Reports No Resident Complaints ------------------------------------------------------------ Margaret Barajas, the patient care ombudsman, filed with the U.S. Bankruptcy Court for the Middle District of Pennsylvania her report regarding the quality of patient care provided by Comprehensive Healthcare Management Services, LLC. Local ombudsmen have continued to conduct regular visits to this facility. There are no resident concerns directly related to the bankruptcy proceedings. The U.S. Bankruptcy Court approved the sale of this facility to Blue Sky Basin in late December of 2025. New ownership officially began operating on March 1 and the facility is now under the name "Friendship Rehabilitation and Health." During regular bankruptcy visitations conducted by the local ombudsman, multiple residents have stated that night-staff are less attentive and are frequently using personal devices instead of attending to resident needs. During March and April regular bankruptcy visitations, residents made local ombudsmen aware that there were ongoing issues with food arriving cold or being served not as advertised as on the menu. Upon following up in late April and May, residents reported that the issue has improved and the food served is generally acceptable. Local ombudsmen have observed multiple residents being clothed in open-backed hospital gowns rather than personal clothing. Under new ownership, all resident complaints are directed to the staff and leadership for resolution. There are no resident concerns related to bankruptcy at this time. Ms. Barajas ask the court to release her from appointment as Patient Care Ombudsman in this bankruptcy case because the facility has been transferred to new ownership. She and her representatives will conclude their weekly visits, unless otherwise directed by the Court. A copy of the ombudsman report is available for free at https://urlcurt.com/u?l=OlXXES from PacerMonitor.com. About Comprehensive Healthcare Management Services Comprehensive Healthcare Management Services, LLC doing business as Brighton Rehabilitation & Wellness Center, operates a long-term care and skilled nursing facility in Beaver, Pennsylvania. It provides rehabilitation, therapy, and sub-acute services, including physical, occupational, and speech therapy, along with nursing and supportive care for residents. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Pa. Case No. 25-02775) on September 29, 2025, listing up to $50,000 in assets and between $50 million and $100 million in liabilities. Robert E. Chernicoff, Esq., at Cunningham, Chernicoff & Warshawsky, P.C., represents the Debtor as legal counsel. CONSTRUCTION PARTNERS: Moody's Ups CFR to Ba3 --------------------------------------------- Moody's Ratings upgraded Construction Partners, Inc.'s ("CPI" or "the company") corporate family rating to Ba3 from B1, Probability of Default Rating to Ba3-PD from B1-PD, and rating for the existing senior secured term loan B ("TLB") to Ba3 from B1. At the same time, Moody's assigned a Ba3 rating to the company's proposed new $989 million senior secured first lien term loan B ("TLB"), which includes the proposed $150 million add-on. The rating on the existing TLB will be withdrawn upon completion of the transaction. The outlook is revised to stable from positive. CPI has announced a transaction to reprice its existing term loan B due November 2031 and to upsize by $150 million. The net proceeds are expected to be utilized to repay borrowing under the revolver; therefore, Moody's views the transaction to be effectively leverage neutral. Concurrently, the company also intends to increase the revolver commitment size by $200 million ($700 million commitment on a pro forma basis), with no changes to the June 2030 maturity date. Governance considerations under Moody's ESG framework, specifically financial strategy & risk management, were a key driver of the new rating assignment. RATINGS RATIONALE CPI's rating is supported by its strong and expanding market position within the roadway construction and maintenance sector in the Sunbelt region. CPI's core markets benefit from population growth, business migration, and favorable infrastructure funding backdrop. CPI also benefits from the relatively small, short duration and repeatable nature of its projects, while its sizable backlog provides good near-term revenue visibility. CPI's vertical integration and a track record of integrating acquisitions allow the business to densify its operations and create strong competitive advantages in given local markets. CPI's rating is constrained by its relatively small scale and narrow business profile. CPI competes with many smaller family-owned and regional companies but also with larger, higher rated companies with greater product, services, and end market diversity and significant capital resources. The credit profile also reflects the cyclical nature of the construction market and the company's material exposure to private sector projects, which are more vulnerable to economic downturns. The credit profile also incorporates execution risks related to its M&A-driven growth strategy. CPI has grown materially since its IPO through a combination of organic growth and an aggressive M&A strategy. The successful integration of Lone Star Paving, CPI's largest platform acquisition completed in 2024, meaningfully expanded CPI's footprint in Texas and enhanced its vertically integrated position. Since then, CPI has continued to broaden its presence through tuck-in acquisitions and asset additions. Looking ahead, Moody's believes CPI will be supported by (i) its track record of successfully integrating additional acquired businesses without disrupting execution, margins, or customer relationships, (ii) a disciplined financial strategy and capital allocation approach, including more selective M&A consistent with management's stated intent to further improve EBITDA margins, and (iii) sustained free cash flow generation, which Moody's expects will increasingly support growth investments and a greater portion of future acquisitions as CPI continues to scale. Moody's expects the Moody's adjusted leverage to trend towards the 3.0x range over the next 12 to 18 months and expect the company to generate over $200 million in annual free cash flow. CPI's stable outlook reflects Moody's expectations that it will continue to generate strong growth, supported by high-single-digit organic revenue growth in addition to M&A-driven growth, while steadily increasing its EBITDA margins. The stable outlook also reflects Moody's expectations that CPI will continue its track record of successfully integrating newly acquired businesses, scaling up its cash flow generation, while maintaining credit metrics commensurate with its Ba3 rating. CPI's SGL-2 speculative grade liquidity rating reflects its good liquidity profile as of March 31, 2026, supported by $77 million of cash, approximately $497 million availability under its upsized $700 million revolver, as well as meaningful free cash flow generation. The Ba3 rating on the upsized $989 million term loan B maturing in 2031, in line with the Ba3 corporate family rating, reflects the preponderance of the first lien senior secured debt in the company's structure that also includes a $700 million revolver and $600 million term loan A (both unrated). The TLB is secured by the first priority security interest in substantially all of the tangible and intangible assets of the borrowers and their direct wholly-owned guarantor subsidiaries that secure the obligations (revolver and term loan A) under the existing credit agreement. The TLB is ranked pari passu with the obligations under the existing credit agreement. The TLB does not have any financial covenants. The revolver and the term loan A have financial covenants, including a minimum consolidated interest coverage ratio of 3.0x and maximum consolidated net leverage ratio that gradually steps down to 3.75x for each fiscal quarter ending September 2027 and thereafter. Moody's expects the company to remain in compliance with its covenants. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS A ratings upgrade could be considered if the company materially expands its geographic presence and scale, continues to increase its operating margins while maintaining positive free cash flow generation. Quantitatively, the ratings could be upgraded if Moody's adjusted leverage is sustained below 3.0x and EBITDA/Interest ratio above 5.0x. A downgrade could be considered if the company fails to consistently generate positive free cash flow, maintain adequate liquidity, or experiences weakened operating performance on a sustained basis such that its Moody's adjusted leverage remains above 4.0x or EBITDA/interest ratio below 4.0x. Negative ratings pressure may also develop if the company adopts more aggressive acquisition or financial policies. Construction Partners, Inc. is a vertically integrated civil infrastructure construction company that operates in multiple regions of the United States. The company serves both public (government) and private customers and provides construction and maintenance services across a variety of end applications, such as roads, bridges, airports, commercial and residential developments. The company operates its own Hot Mix Asphalt (HMA) plants, aggregate facilities (quarries) and liquid terminals and generated about $3.3 billion in revenues for the LTM period ended March 31, 2026. The principal methodology used in these ratings was Construction published in November 2025. COREWEAVE INC: S&P Rates New $3.5BB Senior Unsecured Notes 'B' -------------------------------------------------------------- S&P Global Ratings assigned its 'B' issue-level rating and '5' recovery rating to New Jersey-based provider of generative AI infrastructure, software, and cloud services company CoreWeave Inc.'s proposed $3.5 billion (or euro equivalents) of senior unsecured notes due 2032. At the same time, S&P affirmed its 'B' issue-level rating on the company's existing unsecured notes. The '5' recovery rating indicates its expectation for modest (10%-30%; rounded estimate: 15%) recovery for lenders in the event of default. S&P's 'B+' issuer credit rating and positive outlook on CoreWeave are unchanged. These notes are being issued by parent CoreWeave Inc., the same issuer, and on terms substantially similar to the company's existing unsecured debt. S&P expects it to use the proceeds for general corporate purposes, primarily to fund the capital investments necessary to support delivery against its revenue backlog, which approached $100 billion as of March 31, 2026, driven by recently announced contract awards with Meta, Jane Street, and Anthropic. S&P said, "We also anticipate the financing will enable CoreWeave to continue scaling its power capacity and data center footprint, a mission-critical input and a competitive key consideration necessary to capitalize on a robust demand environment and sustain its rapid expansion. This includes its plans to target more than 1.7 gigawatts (GW) of active power capacity by year-end 2026, bring a substantial majority of the 3.5 GW contracted capacity active by year-end 2027, and 8 GW by 2030, and diversifying its data center footprint, including its more recent pursuit of self-development. We believe this will contribute to tighter operational control and reduce long-term infrastructure costs. "These investments continue to underpin our expectations that CoreWeave will continue to sustain strong revenue growth, which should translate into improved profitability and cash flow, supporting the ability to strengthen credit metrics. Nevertheless, we continue to monitor the company's progress in remediating its material weakness in internal controls and are looking for a longer operating track record demonstrating successful execution against its expansion plans, including management of customer concentration, funding requirements, and continued access to capital markets, before considering a higher rating." Issue Ratings--Recovery Analysis Key analytical factors -- CoreWeave's recovery analysis has been updated to reflect its latest proposed debt issuance and evolving capital structure. Our 2030 default scenario centers on a confluence of operational and liquidity risks, including the inability to successfully scale operations, consistently deliver on contracted services, refinance debt in a timely manner, navigate rapid technological change, and preserve key industry partnerships. -- Given the rapid growth of both the company and the broader industry, we expect to further refine our recovery analysis as part of our ongoing surveillance by incorporating emergence valuations, waterfall structures, and nondebt obligations and guarantees. -- CoreWeave's special purpose vehicle (SPV)-level debt is sufficiently collateralized by high-quality counterparty contracts, and we expect full amortization of this debt, limiting its impact on the unsecured notes' recovery profile. We also continue to account for the high strategic value of powered data center infrastructure. In a 2030 default scenario, we anticipate strong demand for CoreWeave's power capacity, driven by persistent power supply constraints, which would mitigate its substantial long-term lease liabilities. S&P said, "Despite current supply constraints supporting our recovery assumptions, several risks remain. These include potential lease-rate compression as market capacity increases, logistical challenges in subleasing long-term operating leases (10 or more years), and geographic or power-cost disadvantages for specific data centers. Consequently, we include lease-rejection claims in an assumed default scenario of $2.0 billion compared with $500 million from our prior analysis. This takes into account an improving mix of longer-term contract duration as well as the limited-guarantee delayed draw term loan financing the company launched, which enables its investment-grade customers to assume the site lease in the event CoreWeave fails to perform under its obligations. We could anticipate further increases as CoreWeave's lease obligations rise, if we revise our core sublease assumption or estimate longer-term contracted revenue growth will underperform." CoreWeave's other debt capitalization, excluding SPV-level debt, includes $1.5 billion outstanding under the $2.5 billion revolving credit facility due 2029, $5.036 billion of manufacturer and software license finance arrangements, $2 billion of 9.25% senior notes due 2030, $1.75 billion of 9% senior notes due 2031, $2.6 billion in 1.75% convertible senior notes due 2031, $2.75 billion of 9% senior notes due 2031, $4.0 billion in 1.75% convertible senior notes due 2032, and $452 million of other parent debt. Weights and Biases LLC, CoreWeave Cash Management LLC, and CoreWeave Debt Holdco I LLC are guarantors of the revolving credit facility and CoreWeave's notes. The establishment of CoreWeave Debt Holdco I LLC supports the prospects for its senior secured lenders and provides the unsecured noteholders with priority over CoreWeave's other unsecured obligations. Currently, only CoreWeave Compute Acquisition Co. VII LLC and CoreWeave Compute Acquisition Co. VI are subsidiaries of CoreWeave Debt Holdco I LLC. S&P said, "We estimate about $4.5 billion of original equipment manufacturer (OEM) financing outstanding in our simulated year of default, reflecting our expectation that the company will continue to find OEM financing an attractive option for certain non-investment-grade customer contract buildouts. OEM financing lenders, in addition to liens on their financed equipment, benefit from CoreWeave guarantees. "The increase in our simulated default emergence valuation to $10.1 billion reflects, among other things, the significant increase in the firm's platform and contracted revenue." Simulated default assumptions -- Simulated year of default: 2030 -- Implied enterprise value multiple: 5.0x -- EBITDA at emergence: About $2.0 billion Simplified waterfall -- Gross emergence enterprise value of parent: about $10.1 billion -- Administrative expenses: 5% of gross enterprise value -- Valuation distribution for senior secured revolving credit facility lenders: 35% -- Valuation distribution for OEM financing lenders: 50% -- Valuation distribution for unpledged: 15% -- Senior secured revolving credit facility (85% draw assumption and limited by letters of credit availability) plus prepetition interest outstanding at default: $1.9 billion -- OEM equipment financing plus prepetition interest outstanding at default: $4.5 billion -- Operating lease rejection claims: About $2 billion -- Unsecured notes plus prepetition fees and interest at default: $16.55 billion (including $2.09 billion of the senior unsecured notes due 2030, $1.83 billion of senior notes due 2031, $2.63 billion of senior convertible notes due 2031, $2.75 billion of 9% senior notes due 2031, $4.0 billion in 1.75% convertible senior notes due 2032, about $3.6 billion of proposed senior notes due 2032, and other unsecured debt of about $455 million) -- Net enterprise value available to senior noteholders: $3.3 billion --Recovery expectations: 10%-30% (rounded estimate: 15%) CRAFT CONSTRUCTION: Files Emergency Bid to Use Cash Collateral -------------------------------------------------------------- Craft Construction Company LLC asks the U.S. Bankruptcy Court for the Southern District of Florida, Fort Lauderdale Division, for authority to use cash collateral and provide adequate protection. The Debtor's primary assets include accounts receivable, retainage, change-order proceeds, equipment, and approximately $293,000 in bank accounts at Truist Bank. The Debtor's operations depend heavily on progress payments from construction contracts, many of which are bonded by Berkley Insurance Company, which also asserts rights over contract proceeds under indemnity agreements, a funds control agreement, and a letter directing payments into a controlled account. Truist Bank and Berkley Insurance Company claim security interests in substantially all of the Debtor's assets, including accounts, equipment, and contract proceeds, though Berkley also asserts an ownership interest in certain bonded contract revenues. The Debtor disputes or reserves the right to challenge these assertions while proceeding under a proposed framework for adequate protection. The Debtor needs to use cash collateral to fund ongoing operations, including payroll, subcontractors, materials, insurance, and other project costs, arguing that without such authority it would be forced to cease operations and default on its bonded contracts, causing irreparable harm to the estate. To protect secured lenders, the Debtor proposes replacement liens and structured cash management, including project-specific sub-accounts for bonded contracts. Under Florida law, construction payments are treated as trust funds for subcontractors and suppliers, and the Debtor proposes to satisfy those obligations first before treating remaining proceeds as cash collateral. Truist would receive a replacement lien and maintains a relatively small outstanding balance, while Berkley would receive replacement liens, subrogation rights, and structured control over project funds, but no immediate cash payments due to the contingent nature of its exposure. A copy of the motion is available at https://urlcurt.com/u?l=KEcu46 from PacerMonitor.com. About Craft Construction Company LLC Craft Construction Company LLC is a privately held construction company headquartered in Pompano Beach, Florida. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 26-15967)on May 7, 2026. In the petition signed by Barry Craft, managing member, the Debtor disclosed up to $10 million in both assets and liabilities. Judge Peter D. Russin oversees the case. Zach B. Shelomith, Esq., at SHELOMITH LAW, represents the Debtor as legal counsel. CUSTOM PET: Case Summary & 12 Unsecured Creditors ------------------------------------------------- Debtor: Custom Pet LLC Custom Pet, Inc. 225 E. 11th Ave. Hialeah FL 33013 Business Description: Custom Pet manufactures and supplies natural dog treats, including private-label, bulk and product-development offerings for pet-product distributors and brands. The Florida- based company's products include bully sticks, bones, rawhide, freeze-dried treats, collagen, chicken, pork and other beef-based pet snacks. Chapter 11 Petition Date: June 6, 2026 Court: United States Bankruptcy Court Southern District of Florida Case No.: 26-17431 Judge: Hon. Corali Lopez-Castro Debtor's Counsel: Kris Aungst, Esq. PARAGON LAW, LLC 121 Alhamnbra Plz Suite 1500 Miami FL 33134 Tel: (305) 812-5443 E-mail: ka@paragonlaw.miami Total Assets: $2,300,164 Total Liabilities: $1,051,462 The petition was signed by Julian Redondo as CEO. A full-text copy of the petition, which includes a list of the Debtor's 12 unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/FINELVI/Custom_Pet_LLC__flsbke-26-17431__0001.0.pdf?mcid=tGE4TAMA D.A.R. CARRIER: Employs Modestas Law Offices as Counsel ------------------------------------------------------- D.A.R. CARRIER, INC. seeks approval from the U.S. Bankruptcy Court for the Northern District of Illinois, Eastern Division to employ Saulius Modestas, Esq. of Modestas Law Offices, P.C. to serve as bankruptcy counsel. Mr. Modestas will provide these services: (a) negotiation with creditors; (b) preparation of a plan and financial statements; (c) examination and resolution of claims filed against the estate; (d) preparation of pleadings filed in the case; (e) interaction with the trustee in this case; (f) attendance at court hearings; and (g) representation of the Debtor in matters before the Court. Mr. Modestas will receive compensation at an hourly rate of $575.00 per hour. Modestas Law Offices, P.C. is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code, according to court filings. The firm can be reached at: Saulius Modestas, Esq. Modestas Law Offices, P.C. 401 S. Frontage Road, Ste. C Burr Ridge, IL 60527 Telephone: (312) 251-4460 E-mail: smodestas@modestaslaw.com About D.A.R. Carrier Inc. D.A.R. Carrier, Inc., based in Oak Lawn, Illinois, operates as an interstate for-hire freight carrier providing trucking services for general freight under USDOT authority. Founded in 2018, the company operates from 10323 Mayfield Ave, Apt 2D, and runs a small fleet of tractor units serving regional and interstate routes across the United States. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 26-06495) on April 14, 2026, with $1 million to $10 million in assets and liabilities. Artur Rak, president, signed the petition. Judge Nancy A. Peterman presides over the case. Saulius Modestas, Esq., at Modestas Law Offices, P.C. represents the Debtor as bankruptcy counsel. DAMIS HOLDINGS: Commences Chapter 11 Bankruptcy in New Jersey ------------------------------------------------------------- On June 4, 2026, Damis Holdings LLC and its debtor affiliates filed for Chapter 11 protection in the U.S. Bankruptcy Court for the District of New Jersey. According to court filing, the Debtor reports between $500 million and $1 billion in debt owed to a broad base of creditors. About Damis Holdings LLC Damis Holdings LLC is a Trumbull, Connecticut-based owner and operator of summer camp facilities and related recreational businesses operating through multiple affiliated entities. Damis Holdings LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-16439) on June 4, 2026. In its petition, the Debtor reports estimated assets of $100 million to $500 million and estimated liabilities of $500 million to $1 billion. Honorable Bankruptcy Judge Christine M. Gravelle handles the case. The Debtor is represented by Michael D. Sirota, Esq. of Cole Schotz P.C. DEM REAL: Seeks Chapter 11 Bankruptcy in North Carolina ------------------------------------------------------- On June 7, 2026, DEM Real Estate Holdings, LLC filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Western District of North Carolina. According to court filings, the Debtor reports between $1 million and $10 million in debt owed to 1-49 creditors. A meeting of creditors under Section 341(a) to be held on July 8, 2026 at 01:00 PM at Zoom 341 Meeting. Proof of Claims due by 10/6/2026. About DEM Real Estate Holdings, LLC DEM Real Estate Holdings, LLC is a real estate holding company that owns, manages, or invests in real estate assets. The company sought bankruptcy protection to reorganize its financial obligations under court supervision. DEM Real Estate Holdings, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-30772) on June 7, 2026. In its petition, the Debtor reported estimated assets of $1 million to $10 million and estimated liabilities of $1 million to $10 million. Honorable Bankruptcy Judge Ashley Austin Edwards handles the case. The Debtor is represented by Michael Leon Martinez, Esq. of Grier Wright Martinez, PA. DEMAR INSTALADORA: Gets U.S. Recognition of Mexican Bankruptcy Case ------------------------------------------------------------------- Clara Geoghegan of Law360 Bankruptcy Authority reports that DEMAR Instaladora secured Chapter 15 recognition of its Mexican bankruptcy case after a Texas judge determined that the foreign proceeding qualified for protection under U.S. insolvency law. The marine oil rig services provider sought recognition to shield its assets and facilitate a coordinated restructuring effort. The court's order extends bankruptcy protections to the debtor in the United States and halts two lawsuits that were pending against the company. DEMAR maintained that the litigation threatened to disrupt the restructuring process and could lead to inconsistent outcomes for stakeholders, the report relays. By recognizing the Mexican proceeding as the primary forum for resolving creditor claims, the court reinforced Chapter 15's goal of promoting cooperation in cross-border insolvencies. The ruling enables DEMAR to continue its restructuring efforts while limiting creditor actions outside the foreign proceeding, according to Law360. About DEMAR Instaladora y Constructora SA de CV DEMAR Instaladora y Constructora S.A. de C.V. is an energy infrastructure and construction company based in Mexico that focuses on engineering, procurement, construction and maintenance services for the petroleum industry. Established in 1990, the company supports both offshore and land-based oil and gas projects and is recognized as a contractor for PEMEX operations. DEMAR Instaladora y Constructora SA de CV sought relief under Chapter 15 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 26-90523) on May 6, 2026. Honorable Bankruptcy Judge Christopher M. Lopez handles the case. The Debtor is represented by Juan Jose Mendoza, Esq. of Sequor Law, PA. DENTISTAR P.C.: Court Extends Cash Collateral Access to June 30 --------------------------------------------------------------- The U.S. Bankruptcy Court for the Northern District of Illinois entered a third interim order extending Dentistar P.C.'s authority to use cash collateral until June 30. Under the third interim order, the Debtor is authorized to use the cash collateral of its secured creditors including Hanmi Bank, Huntington National Bank, Ready Capital and the U.S. Small Business Administration to pay the expenses set forth in its budget, subject to a 5% variance. As a condition of using cash collateral, the Debtor must make monthly payments beginning today, consisting of $1,500 to the SBA, $3,086.03 to Hanmi Bank, $5,826.67 to Ready Capital, and $11,759.29 to Huntington National Bank. As additional protection, the court granted the secured creditors replacement liens on substantially all of the Debtor's existing and future assets, with the same validity, priority, and extent as their pre-petition liens. The Debtor must also provide access to books, records, and collateral for inspection and verification purposes. The order is available at https://shorturl.at/NcdVd The next hearing is set for June 30. The Debtor's secured creditors claim liens on substantially all of its business assets, including inventory, cash, bank deposits, and accounts receivable. The largest claim is expected from the SBA, which allegedly holds a first-priority lien securing at least $700,000. Huntington is expected to assert a second-position lien securing more than $1 million. Meanwhile, Hanmi Bank and Ready Capital each holds junior liens totaling several hundred thousand dollars. About Dentistar P.C. Dentistar, P.C. is a dental practice located in Glenview, Illinois. Founded in 2013, the practice provides general, cosmetic, pediatric, orthodontic, implant, denture, and emergency dental services. Its offerings include exams, cleanings, X-rays, treatment planning, veneers, tooth whitening, braces, retainers, pain relief, broken tooth care, and denture repair. Dentistar filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. N.D. Ill. Case No. 26-07914) on May 6, 2026, with up to $50,000 in assets and up to $10 million in liabilities. Sam Shin, president of Dentistar, signed the petition. Judge Daniel R. Fine oversees the case. Ben Schneider, Esq., at The Law Offices of Schneider & Stone, represents the Debtor as bankruptcy counsel. Ira Bodenstein serves as Subchapter V trustee for the Debtor. DGAT PRACTICES: Voluntary Chapter 11 Case Summary ------------------------------------------------- Debtor: DGAT Practices LLC 124 East 13th Street, Apt 2 New York, NY 10003 Chapter 11 Petition Date: June 5, 2026 Court: United States Bankruptcy Court Southern District of New York Case No.: 26-11349 Judge: Hon. Lisa G Beckerman Debtor's Counsel: Elio Forcina, Esq. THE LAW OFFICE OF ELIO FORCINA 6685 73rd Street Middle Village NY 11379 Tel: 347-528-7099 Email: forcinalaw@gmail.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by David Greuner as owner and member. The petition was filed without the Debtor's list of its 20 largest unsecured creditors. A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/XO7X2EY/DGAT_PRACTICES_LLC__nysbke-26-11349__0001.0.pdf?mcid=tGE4TAMA DOT AI: Explores Strategic Alternatives, Hires Cohen & Company -------------------------------------------------------------- Dot Ai, Inc. is exploring strategic alternatives and hired Cohen & Company Capital Markets as exclusive financial adviser, according to a Form 8-K filing with the Securities and Exchange Commission. The Las Vegas company said the review could include a sale, merger or other business combination, strategic partnership or joint venture, licensing arrangements, recapitalization, additional financing, continued execution of its standalone plan, or liquidation and dissolution. The company said no timetable has been set and no agreement for a transaction has been reached. The company does not expect to disclose developments unless its board concludes disclosure is appropriate or required. About Dot AI Dot Ai, Inc., formerly known as CID Holdco, Inc., is an industrial IoT and AI-based software company that provides real-time tracking and visibility of high-value assets through a SaaS platform, with applications in industries including construction, military, mining, retail, warehousing and manufacturing. CID Holdco's latest Form 10-K included substantial-doubt going-concern language in the auditor's report dated March 11, 2026. Carr, Riggs & Ingram L.L.C. said the company had recurring losses from operations, a working capital deficiency and an accumulated deficit, raising substantial doubt about its ability to continue as a going concern. As of March 31, 2026, the company reported total assets of $7.77 million, total liabilities of $11.87 million and total shareholders' deficit of $4.09 million. DURANTE EQUIPMENT: Seeks to Hire Houston Roderman as Counsel ------------------------------------------------------------ Durante Equipment LLC seeks approval from the U.S. Bankruptcy Court for the Southern District of Florida to hire Bart A. Houston, Esq. and its firm Houston Roderman, PLLC to serve as its bankruptcy counsel. The firm will provide these services: (a) advise the Debtor and Debtor-in-Possession with respect to its powers and duties in these proceedings and general bankruptcy law matters; (b) advise the Debtor regarding compliance with the U.S. Trustee's Operating Guidelines, reporting requirements, Bankruptcy Code, Federal Rules of Bankruptcy Procedure, and local rules; (c) prepare motions, applications, answers, orders, reports, and other legal documents necessary in the administration of the case; (d) negotiate with creditors, prepare and seek confirmation of a plan of reorganization, and assist with implementation of any plan; (e) review executory contracts and unexpired leases; (f) negotiate and document financing matters; (g) advise on litigation issues; (h) protect the interests of the Debtor in all matters before the Court; and (i) pursue claims or actions against creditors or third parties as necessary. Houston Roderman, PLLC will be compensated at an hourly rate of $595 for the partner, $450 for associates, and $150 to $185 for paraprofessionals. The firm received a $75,000 fee retainer and $5,000 cost retainer, with portions applied to prepetition services and filing fees. Compensation is subject to court approval under sections 330 and 331 of the Bankruptcy Code. Houston Roderman, PLLC is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code, according to court filings. The firm can be reached at: Bart A. Houston, Esq. HOUSTON RODERMAN, PLLC 633 S. Andrews Avenue, Suite 500 Fort Lauderdale, FL 33301 About DURANTE EQUIPMENT LLC Durante Equipment LLC sought protection under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Fla., Fort Lauderdale Division Case No. 26-17303-SMG) on June 3, 2026. At the time of the filing, Debtor had estimated assets of between $1,000,001 and $10 million and liabilities of between $500,001 and $1 million. Judge Scott M Grossman oversees the case. Houston Roderman, PLLC is Debtor's legal counsel. DUSTED77 FINE: Gets Final OK to Use Cash Collateral --------------------------------------------------- The U.S. Bankruptcy Court for the District of Colorado granted Dusted77 Fine Minerals, LLC final approval to use cash collateral. Under the final order, the Debtor is authorized to use cash collateral only in accordance with an approved budget, with permitted deviations of up to 15% on individual line-item expenses unless further approval is obtained from creditors or the court. The Debtor's cash collateral includes approximately $167,125 in inventory, $33,221 in a bank account, and proceeds from ongoing sales. Creditors asserting security interests in the cash collateral and other assets of the Debtor include JPMorgan Chase Bank, N.A., which holds a senior lien due to subordination; the U.S. Small Business Administration, and a PayPal-related lender (Swift Financial). As adequate protection for any diminution in the value of their collateral, secured creditors will be granted replacement liens on post-petition inventory, accounts receivable, and income generated from business operations. These replacement liens will maintain the same relative priority as the creditors' pre-petition liens. As additional protection, JPMorgan will receive a monthly payment of $1,427.27 on account of its first-priority security interest. The order preserves all creditor rights regarding claims and lien positions. The Debtor's authority to use cash collateral will terminate upon dismissal or conversion of its Chapter 11 case to Chapter 7, appointment of a trustee, relief from the automatic stay affecting collateral, or noncompliance with the budget and other terms of the order. The order is available at http://bankrupt.com/misc/Dusted77_FCCOrder.pdf JPMorgan, as secured creditor, is represented by: J. Seth Moore, Esq. Snell & Wilmer L.L.P. 2501 North Harwood Street, Suite 1850 Dallas, TX 75201 Telephone: 214-305-7301 Facsimile: 214-305-7351 semoore@swlaw.com About Dusted77 Fine Minerals LLC Dusted77 Fine Minerals, LLC is a Colorado-based company specializing in selling mineral specimens. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Colo. Case No. 26-13000-KHT) on April 29, 2026. In the petition signed by Scott Maller, member, the Debtor disclosed up to $500,000 in assets and up to $1 million in liabilities. Judge Kimberly H. Tyson oversees the case. Lacey Bryan, Esq., at Markus Williams LLC, r,epresents the Debtor as legal counsel. DYNABODY LLC: Case Summary & 11 Unsecured Creditors --------------------------------------------------- Debtor: DynaBody, LLC 1635 Robert C. Jackson Dr. Maryville, TN 37801 Business Description: DynaBody manufactures strength equipment in the United States, including racks, cages, benches, barbells, free weights, storage products, and upper- and lower-body equipment. The company is based in Maryville, Tennessee, with its manufacturing facility located in Knoxville. DynaBody offers customized equipment solutions for individuals and fitness facilities and provides worldwide shipping. Chapter 11 Petition Date: June 7, 2026 Court: United States Bankruptcy Court Western District of North Carolina Case No.: 26-30771 Judge: Hon. Laura T Beyer Debtor's Counsel: Michael L. Martinez, Esq. Grier Wright Martinez, PA 521 E. Morehead St., Suite 440 Charlotte, NC 28202 Tel: 704 332-0209 Fax: 704 332-0215 E-mail: mmartinez@grierlaw.com Estimated Assets: $500,000 to $1 million Estimated Liabilities: $1 million to $10 million The petition was signed by John David Preble as sole member. A full-text copy of the petition, which includes a list of the Debtor's 11 unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/MS7WHZA/DynaBody_LLC__ncwbke-26-30771__0001.0.pdf?mcid=tGE4TAMA EAST HEMPSTEAD: Seeks to Tap Michael L. Previto as Attorney ----------------------------------------------------------- East Hempstead Partners, Inc. seeks approval from the U.S. Bankruptcy Court for the Eastern District of New York to hire Michael L. Previto, Esq., a professional practicing law in Hauppauge, New York, to serve as its attorney. Mr. Previto will provide these services: (a) advise the Debtor with respect to his power and duties as a Debtor in Possession in the operation and management of the financial reorganization of the estate. (b) attend meetings and negotiate with creditors and their representatives, the Trustee and others. (c) take all actions to protect the Debtors estate, including litigating on the Debtor's behalf and negotiating where applicable. (d) prepare all motions, applications, answers, orders, reports, and papers necessary for the administration of the estate. (e) assist and represent the Debtor in obtaining Debtor's financing, if applicable. (f) prepare a Chapter 11 plan or plans and disclosure statement and take any action to obtain confirmation of that plan. (g) represent the Debtor's interest in any sale of property or assets. (h) appear in Court to protect his interests. (i) perform all other legal services and provide such advice as is necessary to assist the Debtor in this endeavor. Mr. Previto will receive compensation at an hourly rate of $250. The Debtor paid a retainer of $4,500. Mr. Previto is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code and does not hold or represent any interest adverse to the Debtor's estate, according to court filings. The professional can be reached at: Michael L. Previto, Esq. 150 Motor Parkway, Suite 401 Hauppauge, NY 11788 Telephone: (631) 379-0837 About East Hempstead Partners, Inc. East Hempstead Partners, Inc. is a business entity typically engaged in investment and property-related activities, including real estate ownership and asset management. East Hempstead Partners, Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-42167) on May 1, 2026. In its petition, the Debtor reports estimated assets of $1 million to $10 million and estimated liabilities of $100,001 to $1,000,000. Honorable Bankruptcy Judge Jil Mazer-Marino handles the case. The Debtor is represented by Michael L. Previto, Esq. EAST WEST MANUFACTURING: Moody's Affirms 'B3' CFR, Outlook Stable ----------------------------------------------------------------- Moody's Ratings affirmed East West Manufacturing LLC's (EWM) B3 corporate family rating and B3-PD probability of default rating. Concurrently, Moody's assigned B3 ratings to EWM's new senior secured first lien revolving credit facility and new senior secured first lien term loan. No action was taken on the existing ratings for EWM's senior secured revolving credit facilities and senior secured first lien term loan, all of which will be withdrawn upon the closing of the acquisition. The outlook is stable. The ratings affirmations reflect Moody's expectations that EWM will maintain adequate liquidity, sound financial policies, and positive free cash flow following its acquisition of Vexos, Inc., a complementary company focused on joint design manufacturing. A comprehensive review of all credit ratings for the respective issuer(s) has been conducted during a rating committee. RATINGS RATIONALE The B3 CFR is constrained by EWM's high leverage and the integration risk of combining two entities. Pro forma adjusted debt/EBITDA will be 5.9x, excluding associated synergies, at the closing of the acquisition. There is material integration risk, particularly related to the expected closure of two manufacturing facilities. While EWM has a demonstrated track record of cutting costs and making operational improvements, the integration of Vexos will involve a considerable amount of execution risk. The B3 CFR is supported by recent positive momentum at EWM and Vexos, the credit enhancing potential of increased scale through the Vexos acquisition, and Moody's expectations for positive free cash flow. Vexos is a complementary company that appears to be a sound strategic fit and will increase EWM's revenue base by approximately 47%. The synergy potential of this acquisition is substantial and the savings will be achieved over the 18 months following the transaction's completion. Moody's projects approximately 50% to 75% of management's proposed cost synergies of $14 million to be realized. The stable outlook is based on Moody's expectations of adequate liquidity supported by modestly positive free cash flow. The outlook also reflects Moody's expectations that the company will not encounter any material integration challenges over the next 12-18 months that would otherwise jeopardize the company's deleveraging path. EWM will operate with adequate liquidity over the next 12-18 months. Cash on hand at the close of the transaction will be approximately $5 million. Moody's projects that the company will generate modestly positive free cash flow per annum during 2026-2027. Liquidity will be supported by a $75 million senior secured first lien revolving credit facility. Moody's expects the facility to be undrawn over the next 12-18 months. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS The ratings could be upgraded if EWM effectively manages its growth. Sustaining adjusted debt/EBITDA below 5.5x while EBITA/interest expense approaches 2.0x would be supportive of an upgrade. Consistent sustainment of positive free cash flow would also exert upward ratings pressure. Ratings could be downgraded if EWM encounters material integration challenges following the acquisition of Vexos or experiences any deterioration in liquidity. In addition, debt/EBITDA sustained above 7.5x or EBITA/interest expense below 1.0x would place downward pressure on the rating. East West Manufacturing LLC is an outsourced product design and manufacturing company that assists customers in designing and manufacturing products as well as logistical support. Pro forma revenues, including sales generated by Vexos, for the 12 months ended December 31, 2025 was approximately $646 million. The principal methodology used in these ratings was Manufacturing published in September 2025. EASTSIDE COLLISION: Seeks to Hire Jones & Walden LLC as Counsel --------------------------------------------------------------- Eastside Collision & Car Care Center, Inc. seeks approval from the U.S. Bankruptcy Court for the Northern District of Georgia to hire Jones & Walden LLC to serve as its legal counsel. The firm will provide these services: (a) preparing pleadings and applications on behalf of the Debtor and Debtor-in-Possession; (b) conducting examinations in connection with the Chapter 11 case; (c) advising the Debtor regarding its rights, duties, and obligations as a debtor-in-possession; (d) consulting with and represent the Debtor with respect to a Chapter 11 plan; (e) performing legal services necessary to the day-to-day operations of the Debtor's business, including institution and prosecution of legal proceedings and providing general legal advice and assistance; and (f) taking any and all actions necessary for the preservation and administration of the Debtor’s estate and business. Jones & Walden LLC will be compensated at hourly rates ranging from $225 to $500 for attorneys and $150 to $250 for paralegals and law clerks, plus reimbursement of reasonable expenses, subject to Court approval. The firm also holds a $25,464.50 special retainer. According to court filings, Jones & Walden LLC is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code and does not hold an adverse interest to the Debtor or its estate. The firm can be reached at: Leslie M. Pineyro, Esq. JONES & WALDEN LLC 699 Piedmont Avenue, NE Atlanta, GA 30308 Telephone: (404) 564-9300 E-mail: lpineyro@joneswalden.com 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. ECOSYSTEM RENEWAL: Hires NeunerPate as Special Counsel ------------------------------------------------------ Ecosystem Renewal, LLC seeks approval from the U.S. Bankruptcy Court for the Western District of Louisiana to employ NeunerPate as special counsel. The Debtor needs a special counsel to represent the Debtor relative to two matters in litigation, Dream Chaser Maker, LLC et al v. Ecosystem Renewal, LLC et al bearing Docket No. C-165681 of the 26TH JDC for Bossier Parish; and Edmond and Linda Ewell v. Ecosystem Renewal, LLC et al formerly Docket No. C-48047 of the 20TH JDC for East Feliciana Parish, now Edmond and Linda Ewell v. Ecosystem Renewal, LLC et al No. 3:26- cv-00361-JWD-RLB, USDX- MDLA. The firm is holding a retainer in the amount of 15,000. The firm will be paid based upon its normal and usual hourly billing rates. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Mr. Coreil disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Jeffrey K. Coreil, Esq. NeunerPate 1001 West Pinhook Road, Suite 200 Lafayette, LA 70503 Tel: (337) 237-7000 Email: jcoreil@neunerpate.com About Ecosystem Renewal LLC Ecosystem Renewal LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. La. Case No. 26-50182) on March 6, 2026, listing under $1 million in both assets and liabilities. Judge John W. Kolwe oversees the case. H. Kent Aguillard, Esq., and Caleb K. Aguillard, Esq., serve as the Debtor's counsel. EEW AMERICAN: Inks $12.6MM Settlement with Landlord --------------------------------------------------- Emlyn Cameron of Law360 Bankruptcy Authority reports that bankrupt offshore wind component manufacturer EEW American Offshore Structures Inc. has requested approval of a settlement valued at nearly $13 million, saying the agreement resolves a key dispute with its landlord and supports the company's ongoing Chapter 11 case. The debtor told a New Jersey bankruptcy court that the deal represents a practical solution to a potentially lengthy and expensive legal battle. The proposed settlement addresses claims arising from the company's occupancy and use of its manufacturing site. EEW argued that continuing to litigate the matter could drain estate resources and delay progress in the bankruptcy proceedings. By contrast, the negotiated resolution provides certainty regarding the parties' rights and obligations while preserving value for creditors, the report states. If approved, the settlement would remove one of the largest unresolved issues in the case and allow management to focus on restructuring efforts. The company said the agreement is the product of arm's-length negotiations and should be approved as a sound exercise of business judgment, according to Law360. About EEW American Offshore Structures Inc. EEW American Offshore Structures Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. N.J. Case No. 26-13901-JNP) on April 8, 2026. In the petition signed by Tom Pratt, chief restructuring officer, the Debtor disclosed up to $50 million in both assets and liabilities. Judge Jerrold N. Poslusny, Jr. oversees the case. Brett S. Theisen, Esq., at Connell Foley LLP, represents the Debtor as legal counsel. DiScho Vermogensverwaltung GmbH & Co. KG, as DIP Lender, is represented by Ericka F. Johnson, Esq., Daniel N. Brogan, Esq., and Steven D. Adler, Esq. of BAYARD, P.A. ELITE EQUIPMENT: Hires Lanak & Hanna P.C. as Special Counsel ------------------------------------------------------------ Elite Equipment Leasing, LLC seeks approval from the U.S. Bankruptcy Court for the District of Monatana to employ Lanak & Hanna, P.C. as special litigation counsel. The firm's services include: a. preparing, filing, and prosecuting an action to foreclose the mechanics lien; b. investigating and evaluating the Estates' rights, claims, and remedies arising from or related to the mechanics lien and the underlying work of improvement; c. preparing and responding to pleadings, motions, applications, and other papers; d. conducting written discovery, depositions, and other discovery proceedings; e. participating in settlement negotiations, mediation, and other dispute-resolution efforts; f. appearing at hearings, conferences, and trial; g. taking actions necessary to preserve, protect, and enforce the mechanics lien and any related rights and remedies, including post-trial motions; and h. performing such other services as are reasonably necessary to prosecute, resolve, or otherwise administer matters relating to the mechanics lien and foreclosure action. The firm will be paid at these rates: Firm Principals $375 to $600 per hour Senior Counsel $350 to $550 per hour Associates $300 to $400 per hour Of Counsel $300 to $400 per hour Paralegals $150 to $225 per hour Law Clerks and Litigation Assistants $150 to $200 per hour The firm will be paid a retainer in the amount of $5,000. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Mr. Murray disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Michael K. Murray Lanak & Hanna, P.C. 1851 East First Street, Suite 700, Santa Ana, CA 92705 P Tel: (714) 620-2350 Fax: (714) 703-1610 About Elite Equipment Leasing Elite Equipment Leasing LLC is a Billings, Montana-based crane rental group. Elite Equipment Leasing sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Mon. Case No. 25-10145) on Sept. 7, 2025. In its petition, the Debtor estimated assets and liabilities between $10 million and $50 million. The Debtors are represented by James A. Patten, Esq. at Patten, Peterman, Bekkedahl & Green, PLLC and Lesnick Prince Pappas & Alverson LLP. Garrett Stiepel Ryder LLP is the Debtors' Special Corporate and Transactional Counsel. Curt Kroll of SierraConstellationPartners LLC is the Debtors' Financial Advisor. Epiq Corporate Restructuring LLC is the Debtors' claims agent. EMERALD TECHNOLOGIES: Moody's Alters Outlook on Caa2 CFR to Stable ------------------------------------------------------------------ Moody's Ratings affirmed Emerald Technologies (US) AcquisitionCo, Inc.'s (Emerald Technologies or Emerald) Caa2 corporate family rating. Concurrently, Moody's affirmed and appended a limited default (LD) designation to Emerald Technologies' probability of default rating, revising it to Caa2-PD/LD. The LD designation will remain in place for approximately three business days. Moody's simultaneously assigned a Caa2 rating to Emerald Technologies' amended senior secured first lien revolving credit facility and senior secured first lien term loan B. The Caa2 ratings on the pre-amended senior secured first lien revolving credit facility and senior secured first lien term loan B have been withdrawn. The outlook was changed to stable from negative. The rating actions, inclusive of the change to a stable outlook, follow the closing of the seventh amendment to Emerald Technologies' senior secured first lien bank credit facility. The transaction extended maturities to October 2029 for the revolver and December 2029 for the term loan B, waived amortization through December 2028, and introduced a PIK feature through December 2028. Moody's views the extension of maturity and introduction of PIK feature as a distressed exchange and event of default. This transaction, coupled with $30 million of equity contribution from Crestview thus far this year, supports the company's near-term liquidity and provides runway for anticipated growth in the next few years. RATINGS RATIONALE The Caa2 CFR reflects high leverage and constrained liquidity following the impacts of Emerald Technologies' challenges with its top customer as well as the slowdown in manufacturing activity across certain customers' end markets. Further constraining the rating is a small scale relative to other electronic manufacturing services (EMS) industry participants as well as significant customer concentration. The CFR also considers the company's narrow scope of operations as a tier-3 EMS provider. Moody's expects the company to have aggressive financial policies under controlled ownership, although Moody's acknowledges continued support from the sponsor as a credit positive. Emerald benefits from the specialty nature of its high-mix, low volume assembly and engineering services. The company's long-term, strategic relationships with core customers also supports the rating. Emerald Technologies' liquidity is weak, but improved following the transaction. Current liquidity is supported by a cash balance of around $14 million as of March 2026. Crestview has provided around $30 million of capital contribution in the May 2026 YTD period. Emerald Technologies has no availability on its $45 million revolver as of March 2026. Moody's expects continued cash outflow through 2026, after which the company has the potential to start generating cash if anticipated growth in earnings materializes and exceeds required costs of growth. Like most EMS providers, Emerald Technologies is exposed to working capital swings that can stress quarterly cash flow generation. Access to the company's revolver is governed by a net leverage ratio of 15x through June 2026, with consistent step downs towards 5.25x by December 2029. Access is also restricted by a $2.5 million minimum liquidity permit. The stable outlook reflects Moody's expectations that increased memory chip demand and strong A&D spend, as well as the resulting increase in Emerald's backlog, should result in both revenue and earnings growth. Although the transaction supports the company's immediate liquidity during this period, there remains risk that Emerald Technologies will require more liquidity to fund such growth. The maturity extension gives the company some time, but if sufficient growth, profitability, and cash generation do not materialize, the company will soon need to address its capital structure while its sustainability is in question. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS The ratings could be downgraded if recovery is not strong enough to support the company's liquidity or current capital structure. The ratings could also be downgraded if Moody's assessments of recovery in a default scenario deteriorates. The ratings could be upgraded upon a return to consistent and stable revenue growth, improvement in liquidity profile, and a return of sufficiently positive free cash flow generation. The principal methodology used in these ratings was Distribution and Supply Chain Services published in November 2025. The net effect of any adjustments applied to rating factor scores or scorecard outputs under the primary methodology(ies), if any, was not material to the ratings addressed in this announcement. Emerald Technologies, headquartered in San Jose, California, is a tier-3 electronic manufacturing services (EMS) provider of high mix, low volume (HMLV) design, prototyping, assembly, and lifecycle support services (supply chain management, order fulfilment, and reverse logistics) for original equipment manufacturer (OEM) customers in end markets including semiconductor equipment, industrial controls, A&D, utility infrastructure, and medical. Emerald specializes in high-complexity electronic assemblies, specifically printed circuit boards (PCBA), box builds/systems integrations, new product introduction and design/engineering services for customer-specific products with significant design variations. The company's manufacturing footprint spans more than 500,000 square feet across eight manufacturing facilities in the US, China, and Malaysia. Emerald Technologies is owned by private equity firm Crestview Partners following the December 2021 buyout. EMMA BUYER: Moody's Assigns B2 CFR Amid New LBO Financing --------------------------------------------------------- Moody's Ratings assigned a B2 corporate family rating, and a B2-PD probability of default rating to Emma Buyer, LLC (Emma) in connection with the proposed acquisitions of Emerald Holding, Inc. (Emerald) and Questex Holdings Group, Inc. (Questex) by investment funds managed by Apollo Global Management, Inc. (Apollo). Concurrently, Moody's assigned a B2 rating to Emma's proposed senior secured first-lien credit facility, which consists of a $175 million first-lien revolver expiring 2031, a $765 million first-lien term loan due 2033, a $200 million first-lien delayed draw term loan due 2033, and a $100 million first-lien delayed draw term loan due 2033 and the outlook is stable. The Emerald Holding, Inc. B2 CFR and B2-PD PDR, along with Emerald X, Inc.'s B2 backed senior secured credit facility rating, have been affirmed. The outlook for both entities is stable. Emma is a leading operator of business-to-business (B2B) events and trade shows across the US and Canada. The Emerald Holding, Inc. and Emerald X, Inc. ratings will be withdrawn following the closing of the proposed acquisition and repayment of the existing debt. Proceeds from the proposed debt financing, along with cash equity from funds managed by Apollo will be used to fund the acquisition of 100% of the common stock of Emerald in a go-private transaction, fund the acquisition of Questex, refinance existing debt at those entities, pay transaction fees and expenses and add $50 million in cash to the balance sheet at close. Moody's expects the $200 million delayed draw term loan to be fully funded at close of the Questex acquisition. However, the proposed $100 million delayed draw term loan will be funded over the next two years as contingent consideration payments from prior acquisitions become due. Moody's expects the transactions to close in Q3 of 2026. The assignment of ratings remains subject to Moody's reviews of the final terms and conditions of the proposed financing. Moody's expectations for sustained aggressive financial policies under concentrated private company ownership, including additional debt-financed acquisitions, was a key ESG governance consideration. With financial backing from Apollo, Emerald's move to go-private and concurrently merge with Questex, raises governance concerns due to an increase in debt and financial leverage. Moody's estimates that the combined company's debt/EBITDA at transaction close will be high at roughly 7.5x as of March 31, 2026. Despite high debt leverage and ESG risks, support to the credit profile is provided by the combined company's leading position as the largest B2B events platform operator predominantly in the US, with good growth prospects, strong profitability and good free cash flow. The substantial equity investment underlines strong backing for Emma, demonstrating that the combined company's enterprise value significantly surpasses its rated debt. RATINGS RATIONALE Emma's B2 CFR reflects the combined company's large operating scale and position as the leading operator of B2B events and trade shows held predominantly in the US, but also high financial leverage. There is some revenue concentration within its top brands as well as the inherent cyclical nature of marketing and event spend during economic downturns. The rating also reflects the company's concentrated equity ownership and expectations of an aggressive growth strategy via debt-funded acquisitions. However, Moody's don't expect sizable acquisitions that would require incremental debt funding until after the company completes the integration of Questex. All financial metrics cited reflect Moody's standard adjustments. Moody's also adds back contingent consideration expense to EBITDA and other profitability metrics, while adding total contingent consideration liabilities to debt. The B2 rating is supported by Moody's expectations for organic revenue growth in the low to mid-single digit range with good visibility due to the high portion of exhibitors prepaying a year in advance. Although Moody's expects debt/EBITDA to be high at transaction close, Moody's anticipates a slow but steady reduction towards 6x during the next 24 months, driven by organic revenue growth and EBITDA expansion from cross selling opportunities, the achievement of cost synergies, and the gradual roll off of higher transaction and integration costs. Moody's expects the company will draw on its $100 million delayed draw term loan to fund certain earnout liabilities in 2027 and 2028, offsetting the pace of deleveraging, but overall improving towards 6x. Despite the higher interest burden from the increase in debt, Moody's expects the company to generate good free cash flow due to its asset-lite business model, favorable tax assets, and strong profitability. Moody's expects longer term improvements in EBITDA margins towards 25% following the company's period of higher costs associated with the Questex integration. Moody's expects that Emma will maintain good liquidity over the next 12-15 months. Moody's expects the company to have roughly $50 million of cash on hand and full availability under the proposed $175 million first-lien revolving credit facility expiring 2031 at the close of the transaction. The $100 million first-lien delayed draw term loan due 2033 is available to fund earnout liabilities in 2027 and 2028. Moody's expects that the company will generate positive free cash flow over the next 12 months, with free cash flow/debt in the low-to-mid single-digit percentage range low capital investment requirements. There will be no financial maintenance covenants applicable to the term loan, but the revolver is subject to a springing maximum first-lien net leverage covenant of 7.66x if the amount of revolver usage exceeds 40%. Moody's expects that the company would remain in compliance if tested. Marketing terms for the new credit facilities (final terms may differ materially) include the following: Incremental pari passu debt capacity up to the greater of $199 million and 100% of EBITDA, plus unlimited amounts subject to pro forma net first lien leverage of 4.85x (or as long as pro forma leverage does not increase, with amounts up to the greater of $199 million and 100% of EBITDA excluded from funded debt for the purpose of such calculation). There is an inside maturity sublimit up to the greater of $199 million and 100% of EBITDA. There are no "blocker" provisions which prohibit the transfer of specified assets to unrestricted subsidiaries. There are no protective provisions restricting an up-tiering transaction. Amounts up to 100% of unused restricted payments capacity may be reallocated to incur debt. The assignment of B2 ratings to Emma's senior secured first-lien credit facility reflects the B2 CFR and its position as substantially all material debt in the capital structure. The credit facility is unconditionally guaranteed on a secured, first-priority basis by all of the borrower's present and future, direct and indirect domestic restricted subsidiaries. The stable outlook reflects Moody's expectations of organic revenue growth and EBITDA margin expansion as synergies are realized and integration costs dissipate, leading debt/EBITDA to improve towards 6x during the next 24 months. Moody's also expects Emma to generate free cash flow and maintain a good liquidity profile. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS The ratings could be upgraded if Emma increases its revenue scale while also growing its EBITDA margins. Quantitatively, if Moody's expects debt/EBITDA leverage to be sustained below 5x and an improvement in free cash flow generation, while maintaining a strong liquidity position, it could lead to upward pressure on the ratings. The ratings could be downgraded if revenue or profitability is negatively impacted by economic weakness, a weakened competitive position or diminished attendance at core events. A negative action could also occur if there is a material delay in deleveraging due to higher costs associated with the Questex integrations, lack of synergies realized, or additional debt issuances, leading us to expect debt/EBITDA to be sustained over 6x. Ratings could also be downgraded if liquidity weakens or if M&A activity accelerates. 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. Emma Buyer, LLC, the combined companies of Emerald, and Questex, will be the leading operator of business-to-business events and trade shows predominantly in the US across various industry verticals. Moody's expects the combined company to generate pro forma revenues of over $600 million in 2026. ENGINEERING RESEARCH: Moody's Alters Outlook on B3 CFR to Negative ------------------------------------------------------------------ Moody's Ratings affirmed Engineering Research and Consulting, LLC's (dba Astrion) B3 corporate family rating, B3-PD probability of default rating and B3 rating on the company's senior secured bank credit facilities. The outlook was revised to negative from stable. The affirmation of the B3 ratings reflect Astrion's successful integration of a large acquisition, sponsor support that will provide immediate liquidity relief, and a dearth of near-term debt maturities. The change in outlook to negative from stable reflects high financial leverage and weak liquidity resulting from operating performance that was challenged in part by the latest government shutdown. RATINGS RATIONALE The B3 CFR reflects Astrion's modest revenue base relative to other rated government service providers and weak credit metrics. Having a majority of its contracts with cost-plus pricing limits EBITDA margin to the high single digits. Moody's expects an EBITDA margin of near 8% over the next several quarters. The company also has a limited operating history at current scale. Moody's expects Moody's adjusted debt/EBITDA of 8.5x as of March 31, 2026 to remain high over the next 12-18 months. Liquidity is weak with Moody's expectations of breakeven free cash flow in 2026 following negative free cash flow in 2025 and a mostly drawn revolver. The private equity sponsor guaranteed an unsecured loan in the third quarter of 2025 to support near-term liquidity. The ratings are supported by a good track record providing services to a number of US Federal Government departments, particularly across the Department of Defense and NASA. Revenue earned across multi-year contracts with various departments and programs reduces concentration risk. The negative outlook reflects Moody's uncertainty as to whether a recovery in operating performance and credit metrics takes hold over the next 12-18 months, in part due to a challenging federal contracting environment. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS Ratings could be downgraded if liquidity weakens further, particularly if free cash flow remains negative. The ratings could also be downgraded if backlog sustainably declines or if funds from operations plus interest to interest is sustained near 1.0x. Ratings could be upgraded if the company is able to grow its EBITDA margin and free cash flow, which it uses to repay more than the annual amortization on the term loan B. Free cash flow-to-debt sustained above 5.0%, funds from operations plus interest to interest sustained above 2.0x and debt/EBITDA sustained below 5.5x could also lead to an upgrade. Headquartered in Huntsville, Alabama, Engineering Research and Consulting, LLC (d/b/a Astrion) provides mission support and engineering services to US Federal Government agencies including the Department of Defense, NASA and the Space Command. Revenue for LTM March 31, 2026 was approximately $1.5 billion. The principal methodology used in these ratings was Aerospace and Defense published in July 2025. The net effect of any adjustments applied to rating factor scores or scorecard outputs under the primary methodology(ies), if any, was not material to the ratings addressed in this announcement. EUCLID MASA OAK: Voluntary Chapter 11 Case Summary -------------------------------------------------- Debtor: Euclid Masa Oak, LLC 1608 San Pablo Avenue Oakland, CA 94609 Business Description: Euclid Masa Oak, LLC is a single-asset real estate entity with principal assets at 1608 San Pablo Avenue in Oakland, California. Chapter 11 Petition Date: June 8, 2026 Court: United States Bankruptcy Court Northern District of California Case No.: 26-41176 Debtor's Counsel: Beilal Chatila, Esq. CHATILA LAW, LLP 1410 48th Avenue San Francisco CA 94122 Tel: (888) 567-9990 Email: chatilalaw@gmail.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $500,000 to $1 million The petition was signed by Moshin Mosed Sharif as managing member. The Debtor did not submit a list of its 20 largest unsecured creditors along with the petition. A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/CDM7LVA/Euclid_Masa_Oak_LLC__canbke-26-41176__0001.0.pdf?mcid=tGE4TAMA EVERGREEN BUILDING: Final Cash Collateral Hearing Set for June 16 ----------------------------------------------------------------- The U.S. Bankruptcy Court for the District of Maine is set to hold a final hearing on June 16 on Evergreen Building Company, LLC's bid to use cash collateral. The Debtor is currently authorized to use cash collateral under the court's June 2 order, which remains effective until the final hearing. The June 2 order granted adequate protection to secured lender, Bangor Savings Bank, through a replacement lien on substantially all post-petition assets of the Debtor, excluding avoidance actions. In addition, the order required the Debtor to maintain its existing deposit account at the bank as a debtor-in-possession account. The order is available at http://bankrupt.com/misc/EvergreenBuilding_ICCOrder.pdf Before the petition date, Evergreen obtained a business line of credit from Bangor with an outstanding balance of $125,000. The loan is secured by a perfected lien on all of the Debtor's business assets and proceeds, including cash collateral. Under Section 506(b) of the Bankruptcy Code, the bank's claim is allowed as a secured claim as of the petition date. The Debtor's assets consist of accounts receivable, cash on hand, and construction and millwork equipment. Based in South Portland, Maine, Evergreen is a family-owned construction, design, and custom cabinetry business. Since its founding in 2015, the Debtor has experienced strong demand for its services. However, rapid growth, combined with the debt burden and payment delays common in the industry, created financial challenges for the small business. The Debtor filed for Chapter 11 protection to restructure its debt and reduce its overall liabilities. It has also implemented operational changes, including a significant reduction in overhead over the past 12 months, which it believes will support its long-term viability and future success. About Evergreen Building Company LLC Evergreen Building Company is a South Portland, Maine-based construction and millwork company. It provides new home construction, residential and commercial renovation, pre-construction services, design/build support, construction management, and custom cabinetry and woodwork. It serves developers, architects, owners, and clients through its office and millwork shop in South Portland. Evergreen Building Company sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Maine. Case No. 26-20145) on May 28, 2026, with $100,001 to $500,000 in assets and $1 million to $10 million in liabilities. Thomas A. Gagne, general manager of Evergreen Building Company, signed the petition. Judge Hon. Peter G. Cary oversees the case. The Debtor is represented by Tanya Sambatakos, Esq., at Molleur Law Office. F4 PHANTOM: Hires Michelotti & Associates as Bankruptcy Counsel --------------------------------------------------------------- F4 Phantom Investments LLC - F13 Lightning Investments LLC, dba Joe DonutMt. Prospect, a designated series of F4 Phantom Investments LLC, seeks approval from the U.S. Bankruptcy Court for the Northern District of Illinois to employ Michelotti & Associates, Ltd. as general bankruptcy counsel. The firm's services include: a. assisting and advising the debtor concerning the Debtor's legal status as a debtor and the powers, duties, rights, and obligations as the Debtor in possession in the continued management and operation business and of its property and affairs relative to the administration of this proceeding; b. representing the Debtor before the bankruptcy court and advising the debtor on all pending litigations, hearings, motions, and of the decisions of the bankruptcy court; c. reviewing and analyzing all applications, orders, and motions filed with the bankruptcy court by third parties in this proceeding and advising the Debtor thereon; d. attending all meetings conducted according to section 341(a) of the bankruptcy code and representing the debtor at all examinations and Debtor interviews; e. communicating and negotiating with representatives of creditors and other parties in interest; f. preparing all necessary applications, reports, complaints, motions, orders, and other legal papers and documents as may be necessary to appear before the court regarding such legal matters and to seek relief in accordance with said court documents, together with the preparation of the necessary orders thereto; g. defending the Estate against actions that may be instituted against the debtor's estate in these proceedings and to litigate matters relating to said proceedings in accordance with the attorney-client retainer agreement executed between the Parties; h. examining and taking all actions necessary to protect and preserve the estate, including prosecution of such claims or actions and litigation as may be necessary or appropriate on behalf of the estate and to support positions taken by the debtor, and preparing witnesses and reviewing documents in this regard, when applicable; i. examine and resolve claims filed against the estate and to advise and consult with the debtor regarding claims that may be inappropriately or in error filed and to prepare and litigate objections thereto when appropriate; j. conferring with all other professionals, including any accountants and consultants retained by the debtor and by any other party in interest; k. assist the debtor in its negotiations with creditors (and any creditor committees) or third parties concerning the terms of any proposed plan of reorganization; l. assist the debtor in the formulation, preparation, implementation, and consummation of a plan of reorganization and disclosure statement, if necessary or appropriate, and all related agreements and documents, and to take any actions necessary to achieve confirmation of such plan and disclosure statement; m. perform all other legal services required of the debtor, be in the interest of the debtor and the estate, or incident to these proceedings and to provide such legal advice to the debtor as is necessary and in connection with this chapter 11 Case; and n. advise the debtor about any potential sale of assets or representation of the debtor in connection with obtaining post-petition financing if required or needed. The firm will be paid at these rates: Joseph C. Michelotti, Principal $425 per hour Non-Attorney Professionals Paralegal/Support $195 per hour The firm received an advanced payment retainer in the amount of $9,000. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Mr. Michelotti disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Joseph C. Michelotti, Esq. Michelotti & Associates, Ltd. 2625 Butterfield Suite 138s Oak Brook, IL 60523 Email: joe@michelottilaw.com About F4 Phantom Investments LLC F4 Phantom Investments LLC - F13 Lighting Investments LLC, doing business as Joe Donut Mt Prospect, is a private specialty donut and breakfast cafe in Mount Prospect, Illinois, offering handcrafted donuts, coffee, and breakfast and lunch items. The business operates as a designated series of F4 Phantom Investments LLC. It maintains a local presence with a dedicated website. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 26-04109) on March 8, 2026, with $1 million to $10 million in assets and liabilities. Sheila C. Coffey, manager and designated representative, signed the petition. Judge David H. Decelles presides over the case. J. Kevin Benjamin, Esq., at Benjamin Legal Services, PLC represents the Debtor as bankruptcy counsel. FARMERS COOPERATIVE: Gets Extension to Access Cash Collateral ------------------------------------------------------------- Farmers Cooperative Gin of Anson, Texas received approval from the U.S. Bankruptcy Court for the Northern District of Texas, Abilene Division, to continue using cash collateral. The court authorized the Debtor to use cash collateral through July 31 under an approved budget to maintain operations and pursue a reorganization plan. The court also approved payment of critical expenses outside the budget, including $615.15 to Forney Industries, $6,630.25 to Nichols Tillage Tools, Inc., $3,342 to the USDA, and $5,755 for annual meeting expenses. CoBank ACB, the Debtor's largest secured creditor, holds first-priority liens on the Debtor's real estate, equipment, inventory, accounts receivable, and other assets securing approximately $645,000 in debt. The Debtor claims that CoBank is adequately protected by collateral valued at roughly $1.5 million, providing a substantial equity cushion. As additional protection, the court granted CoBank continuing post-petition replacement liens on the Debtor's assets, with the same nature, validity, extent, and priority as its pre-petition liens while preserving all parties' rights to dispute lien validity and priority. The Debtor may make monthly payments of $1,000 to the Subchapter V Trustee. A final hearing is scheduled for July 27. Objections to further use of cash collateral after July 31 must be filed by July 20. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/sQ1CJ from PacerMonitor.com. CoBank is listed as the primary secured creditor, holding a first lien on substantially all assets including real estate, accounts receivable, inventory, equipment, and rolling stock, supporting a debt of approximately $645,000 against collateral valued at about $1.5 million. The U.S. Small Business Administration holds a second lien securing a disaster loan of roughly $414,800, while Cotton Country Electric, Inc. holds a significant unsecured judgment claim of approximately $600,800. As of the petition date, the Debtor reported total cash and receivables of about $422,343, all of which are subject to CoBank's lien and thus constitute cash collateral. About Farmers Cooperative Gin of Anson, Texas Farmers Cooperative Gin of Anson, Texas is a cotton gin cooperative, operating both a cotton processing gin and a farm supply store in Anson, Texas. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Tex. Case No. 26-10109) on April 23, 2026. In the petition signed by Mike Polk, manager, the Debtor disclosed up to $10 million in assets and up to $1 million in liabilities. Judge Mark X. Mullin oversees the case. The Debtor tapped David R. Langston, Esq., at Mullin Hoard & Brown, LLP, as legal counsel and D. Williams & Co., Inc. as accountant. Behrooz Vida, Esq., at the Vida Law Firm, PLLC serves as Subchapter V trustee for the Debtor. FAT BRANDS: Updates Resid Claims Pay; Confirmation Hearing July 24 ------------------------------------------------------------------ FAT Brands Inc. and affiliates submitted a Revised Disclosure Statement describing Revised Joint Plan of Liquidation dated June 1, 2026. The Plan is a liquidating plan. The Debtors have undertaken a value-maximizing and competitive marketing and sale process (the "Sale Process") to sell substantially all of their assets. The Sale Process resulted in four separate Sale Orders entered by the Bankruptcy Court, whereby the Debtors obtained authorization to sell substantially all of their assets to several Purchasers. The Debtors intend to liquidate their remaining assets on the terms and conditions contained in the Plan. As such, the Plan provides for (i) the Distribution of any proceeds from the Sale Process and the liquidation of any remaining non-litigation assets, as well as the Distribution of other Cash that the Debtors have on hand on the Effective Date, and (ii) the creation of a Liquidation Trust and appointment of a Liquidation Trustee that will, among other things, reconcile Claims, make Distributions on account of Allowed Claims under the Plan, pursue the Retained Causes of Action, and wind down the Debtors' Estates, the Non-Debtor Subsidiaries, and remaining business affairs. The Plan further provides for the grouping of all of the Debtors solely for purposes of voting, determining which Class or Classes have accepted the Plan, confirming the Plan, and the resulting treatment of all Claims, Interests, and related Plan Distributions. Class 6 consists of all Resid Claims. On the Effective Date, in full and final satisfaction, compromise, settlement, and release of its Claim (unless the applicable Holder agrees to less favorable treatment): * The Resid Trustee shall receive payment of the Resid Trustee Expenses in Cash from the Resid Trust Accounts; * To the extent that any funds remain in the Resid Trust Accounts after payment of the Resid Trustee Expenses, each Holder of an Allowed Resid Priority Indemnity Claim shall receive payment in Cash from the Resid Trust Accounts on account of such Resid Priority Indemnity Claims, and, to the extent that any amounts remain in the Resid Trust Accounts following distribution to the Resid Trustee and the Holders of the Resid Priority Indemnity Claims, such funds shall be distributed by the Resid Trustee Pro Rata to Holders of Allowed Resid Non-Retained Notes Claims; * Each Holder of a Resid Deficiency Claim on account of an Allowed Resid Non-Retained Notes Claim shall receive its Pro Rata Share of Class B Liquidation Trust Interests; * Each Holder of a Resid Deficiency Claim on account of a Resid Deficiency Claim on account of an Allowed Resid Non-Retained Notes Claim shall receive its Pro Rata Share of Class C Liquidation Trust Interests, which shall be Class C-2A Liquidation Trust Interests; * Each Holder of a Resid Deficiency Claim on account of an Allowed Resid Retained Notes Claim shall receive its Pro Rata Share of Class C Liquidation Trust Interests, which shall be Class C-2B Liquidation Trust Interests; and * Each Holder of an Allowed Resid Subordinated Indemnity Claim shall receive its Pro Rata Share of Class C Liquidation Trust Interests, which shall be C-2C Liquidation Trust Interests. Like in the prior iteration of the Plan, each Holder of an Allowed General Unsecured Claim shall receive its Pro Rata Share of the Class C Liquidation Trust Interests, which shall be Class C-1 Liquidation Trust Interests. The transactions contemplated by this Plan shall be approved and effective as of the Effective Date, without the need for any further state or local regulatory approvals or approvals by any non-Debtor parties, and without any requirement for further action by the Debtors, their board of directors, their stockholders, or any other Person or Entity. Amounts included in the Wind-Down Budget for any contingent, disputed administrative expense and priority claims or payment of wind-down costs and expenses shall be vested in the Liquidation Trust on the Effective Date and the Liquidation Trust Fees and Expenses shall be paid from the Liquidation Trust Funding Amount (and the proceeds thereof), the monetization of the Liquidation Trust Assets, or other funding obtained by the Liquidation Trust. On the Effective Date, the Liquidation Trustee will execute the Liquidation Trust Agreement, thereby establishing the Liquidation Trust for the benefit of Holders of Allowed Claims receiving Liquidation Trust Interests. In accordance with the terms of the Liquidation Trust Agreement, the Liquidation Trust Assets, consisting of all Distributable Proceeds, the Wind-Down Account, the Escrow Account (provided that the funds held in the Escrow Account must first be used to pay all Allowed Professional Fee Claims and are held in trust for the Professionals and then available to the Liquidation Trust), the Retained Causes of Action, the DIP Contributed Assets, Specified Securitization Entity Assets, all of the Debtors' commercial tort claims, and all Claims and Causes of Action, with respect to the foregoing, not released under the Plan or sold in a Sale Transaction, will vest in the Liquidation Trust pursuant to Article V.D of the Plan. Substantially contemporaneously herewith, the Debtors filed the Solicitation Procedures Motion, requesting entry of any order that would, among other things: (i) conditionally approve this Disclosure Statement; (ii) schedule a combined hearing (the "Combined Hearing") on July 24, 2026, at 9:00 a.m., at which the Bankruptcy Court will consider (a) final approval of this Disclosure Statement and (b) confirmation of the Plan; (iii) establish July 17, 2026, at 4:00 p.m. as (a) the Combined Objection Deadline and (b) the Voting Deadline; (iv) approving the form and manner of the notice of the Combined Hearing; (v) establish the Voting Record Date; and (vi) approve the dates, procedures and forms applicable to the process of soliciting votes on and providing notice of the Plan, as well as certain vote tabulation procedures. A full-text copy of the Revised Disclosure Statement dated June 1, 2026 is available at https://urlcurt.com/u?l=eKuPv0 from Omni Agent Solutions, claims agent. Co-Counsel for the Debtors: Timothy A. ("Tad") Davidson II, Esq. Ashley L. Harper, Esq. Philip M. Guffy, Esq. HUNTON ANDREWS KURTH LLP 600 Travis Street, Suite 4200 Houston, TX 77002 Tel: (713) 220-4200 Email: taddavidson@hunton.com ashleyharper@hunton.com pguffy@hunton.com -and- Ray C. Schrock, Esq. Natasha Hwangpo, Esq. Randall Carl Weber-Levine, Esq. Ashley Gherlone Pezzi, Esq. Thomas Fafara, Esq. LATHAM & WATKINS LLP 1271 Avenue of the Americas New York, New York 10020 Tel: (212) 906-1200 Email: ray.schrock@lw.com natasha.hwangpo@lw.com randall.weber-levine@lw.com ashley.pezzi@lw.com thomas.fafara@lw.com - and - Ted A. Dillman, Esq. 10250 Constellation Blvd., Suite 1100 Los Angeles, CA 90067 Tel: (424) 653-5500 Email: ted.dillman@lw.com About FAT (Fresh. Authentic. Tasty.) Brands FAT Brands (NASDAQ: FAT) -- http://www.fatbrands.com/-- is a global franchising company that strategically acquires, markets, and develops fast casual, quick-service, casual dining, and polished casual dining concepts around the world. The Company currently owns 18 restaurant brands: Round Table Pizza, Fatburger, Marble Slab Creamery, Johnny Rockets, Fazoli's, Twin Peaks, Great American Cookies, Smokey Bones, Hot Dog on a Stick, Buffalo's Café & Express, Hurricane Grill & Wings, Pretzelmaker, Elevation Burger, Native Grill & Wings, Yalla Mediterranean and Ponderosa and Bonanza Steakhouses. FAT Brands franchises and owns over 2,200 units worldwide. Fat Brands Inc. and 181 subsidiaries sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 26-90126) on Jan. 26, 2026. In its petition, Fat Brands listed estimated assets and liabilities more than $1 billion. The Honorable Bankruptcy Judge Alfredo R. Perez handles the case. Latham & Watkins LLP is serving as legal counsel to the Company. GLC Advisors & Co., LLC is serving as investment banker, and Huron Consulting Services LLC is serving as financial advisor. Omni Agent Solutions, Inc., is serving as claims, noticing and solicitation agent. White & Case LLP is representing the Ad Hoc Group of Securitization Noteholders. Greenberg Traurig, LLP, represents UMB Bank, National Association, solely in its capacity as Trustee to certain series of notes. FLEXSHOPPER INC: Seeks Mediation to Resolve Ch. 11 Plan Dispute --------------------------------------------------------------- Vince Sullivan of Law360 Bankruptcy Authority reports that FlexShopper Inc. urged a Delaware bankruptcy court to send plan-related disputes to mediation, arguing that negotiations offer the best chance of resolving disagreements over the distribution of assets remaining in the Chapter 11 estate. The rent-to-own company said several stakeholder groups remain divided on how recoveries should be allocated. According to statements made in court, the debtor believes mediation could narrow contested issues and reduce the need for prolonged litigation. The company is seeking to move its Chapter 11 case forward while balancing competing creditor interests and preserving value for the estate. The request comes as FlexShopper works to secure support for its restructuring plan. Company representatives said mediation would provide a practical forum for reaching compromises that could clear the way for plan confirmation and a successful emergence from bankruptcy, the report relays. About FlexShopper Inc. FlexShopper, Inc., provides consumer financing services focused on lease-to-own and lending products, enabling consumers to obtain durable goods such as electronics and home furnishings through its e-commerce marketplace. It operates as an intermediary by approving consumers through a proprietary underwriting model, purchasing goods from merchant and other supply partners, and leasing them to end users, while also offering consumer loan products through affiliated platforms and third-party arrangements. FlexShopper and its affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bank. D. Del. Lead Case No. 25-12254) on Dec. 22, 2025. In the petition signed by CRO Matthew Doheny, FlexShopper listed $50 million to $100 million in assets and $100 million to $500 million in liabilities. The Honorable Bankruptcy Judge Laurie Selber Silverstein handles the cases. The Debtors tapped Morris, Nichols, Arsht & Tunnell LLP as counsel; Glassratner Advisory & Capital Group, LLC as financial advisor; Two Roads Advisors LLC as investment banker; and Epiq Corporate Restructuring LLC as claims and noticing agent. FREEDOM FOREVER: Committee Seeks to Hire Willkie Farr as Counsel ---------------------------------------------------------------- The official committee of unsecured creditors of Freedom Forever LLC seeks approval from the U.S. Bankruptcy Court for the District of Delaware to employ Willkie Farr & Gallagher LLP as counsel. The firm's services include: a. advising the Committee in connection with its powers and duties under the Bankruptcy Code, the Bankruptcy Rules, and the Local Rules; b. assisting and advising the Committee in its consultation with the Debtors relative to the administration of the Chapter 11 Cases; c. attending meetings and negotiating with the Debtors' professionals and other parties-in-interest; d. assisting and advising the Committee in its examination and analysis of the conduct of the Debtors' affairs; e. assisting and advising the Committee in connection with any sale of the Debtors' assets pursuant to section 363 of the Bankruptcy Code; f. assisting the Committee in the review, analysis, and negotiation of any chapter 11 plan(s) of reorganization or liquidation that may be filed, and assisting the Committee in the review, analysis, and negotiation of the disclosure statement accompanying any such plan(s); g. taking all necessary actions to protect and preserve the interests of the Committee, including: (i) possible prosecution of actions on its behalf; (ii) if appropriate, negotiations concerning all litigation in which the Debtors are involved; and (iii) if appropriate, review and analysis of claims filed against the Debtors' estates; h. generally preparing on behalf of the Committee all necessary motions, applications, answers, orders, reports, replies, responses, and other papers in support of positions taken by the Committee; i. appearing, as appropriate, before this Court, the appellate courts, and the U.S. Trustee, and protecting the interests of the Committee before those courts and the U.S. Trustee; and j. performing all other necessary legal services in the Chapter 11 Cases. The firm will be paid at these rates: Partners and Senior Counsel Associates, Counsel, Other $1,950 to $2,795 per hour Attorneys, and Law Clerks $790 to $1,850 per hour Paraprofessionals $420 to $680 per hour The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. The following is provided in response to the requests for additional information set forth in Paragraph D.1. of the U.S. Trustee Guidelines: Question: Did you agree to any variations from, or alternatives to, your standard or customary billing arrangements for this engagement? Response: No. Question: Do any of the professionals included in this engagement vary their rate based on the geographic location of the bankruptcy case? Response: No. Question: If you represented the client in the 12 months prepetition, disclose your billing rates and material financial terms for the prepetition engagement, including any adjustments during the 12 months prepetition. If your billing rates and material financial terms have changed postpetition, explain the difference and the reasons for the difference. Response: N/A. Question: Has your client approved your prospective budget and staffing plan, and, if so for what budget period? Response: Willkie expects to develop a budget and staffing plan to reasonably comply with the U.S. Trustee's request for information and additional disclosures, as to which Willkie reserves all rights. The Committee has approved Willkie's proposed hourly billing rates. Mr. Miller disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Brett H. Miller, Esq. Willkie Farr & Gallagher LLP 787 Seventh Avenue, New York, NY 10019 Telephone: (212) 728-8000 Email: bmiller@willkie.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. The company also offers proprietary software that supports project visibility, permitting and customer transparency. Freedom Forever LLC sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Del. Case No. 26-10522) on April 15, 2026. At the time of the filing, Freedom Forever had estimated assets of between $100,000,001 to $500 million and liabilities of between $500,000,001 to $1 billion. Judge Brendan Linehan Shannon oversees the case. The Debtors tapped Morris, Nichols, Arsht & Tunnell LLP as bankruptcy counsel; Holland & Hart LLP and Landis Rath & Cobb LLP as special counsel; and Berkeley Research Group, LLC as financial advisor. Kroll Restructuring Administration LLC is the Debtors' administrative advisor. FREEDOM FOREVER: Committee Seeks to Tap Blank Rome LLP as Counsel ----------------------------------------------------------------- The official committee of unsecured creditors of Freedom Forever LLC seeks approval from the U.S. Bankruptcy Court for the District of Delaware to employ Blank Rome LLP as delaware counsel. The firm will perform services for the Committee in connection with carrying out its fiduciary duties and responsibilities under the Bankruptcy Code consistent with Bankruptcy Code section 1103(c) and other provisions. The firm will be paid at these rates: Michael B. Schaedle, Partner $1,270 per hour Josef W. Mintz, Partner $1,020 per hour Gregory F. Vizza, Partner $1,025 per hour Jennifer K. Malow, Associate $825 per hour Lawrence R. Thomas, Associate $760 per hour Jordan L. Williams, Associate $730 per hour Partners and Senior Counsel $750 to $1,680 per hour Associates $620 to $1,055 per hour Paraprofessionals $290 to $675 per hour The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. The following information is provided in response to the request for additional information set forth in Paragraph D.1 of the U.S. Trustee Fee Guidelines: Question: Did you agree to any variations from, or alternatives to, your standard or customary billing arrangements for this engagement? Response: No. Question: Do any of the professionals included in this engagement vary their rate based on the geographic location of the bankruptcy case? Response: No. Question: If you represented the client in the 12 months pre-petition, disclose your billing rates and material financial terms for the pre-petition engagement, including any adjustments during the 12 months prepetition. If your billing rates and material financial terms have changed post-petition, explain the difference and the reasons for the difference. Response: Blank Rome did not represent the Committee prior to the Debtors' Chapter 11 Cases. Blank Rome's billing rates and material financial terms were substantially the same as the rates Blank Rome is currently charging the Committee. Question: Has your client approved your prospective budget and staffing plan, and, if so, for what budget period? Response: Blank Rome expects to develop a proposed staffing plan and budget to reasonably comply with the U.S. Trustee's requests for information and additional disclosures, as to which Blank Rome reserves all rights. The Committee has approved Blank Rome's proposed hourly billing rates. Michael B. Schaedle, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Michael B. Schaedle Blank Rome LLP 1201 Market Street, Suite 800, Wilmington, Delaware 19801 Tel: (302) 425-6400 About Freedom Forever LLC Freedom Forever LLC is a Temecula, California-based residential solar installation company that serves homeowners in more than 30 states. It operates as an engineering, procurement and construction platform, providing solar panel installation, energy storage and financing services through employees and independent authorized dealers. The company also offers proprietary software that supports project visibility, permitting and customer transparency. Freedom Forever LLC sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Del. Case No. 26-10522) on April 15, 2026. At the time of the filing, Freedom Forever had estimated assets of between $100,000,001 to $500 million and liabilities of between $500,000,001 to $1 billion. Judge Brendan Linehan Shannon oversees the case. The Debtors tapped Morris, Nichols, Arsht & Tunnell LLP as bankruptcy counsel; Holland & Hart LLP and Landis Rath & Cobb LLP as special counsel; and Berkeley Research Group, LLC as financial advisor. Kroll Restructuring Administration LLC is the Debtors' administrative advisor. FTFM INC: Seeks Chapter 11 Bankruptcy in New York ------------------------------------------------- On June 5, 2026, FTFM Inc. filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Eastern District of New York. According to court filings, the Debtor reports between $100,001 and $1 million in liabilities and 1-49 creditors. A meeting of creditors filed by the United States Trustee under Section 341(a) to be held on July 10, 2026 at 11:00 AM at USA Toll-Free (888) 330-1716, USA Caller Paid/International Toll (713) 353-7024, Access Code 3913464. About FTFM Inc. FTFM Inc. is a corporate entity whose business operations were not disclosed in the bankruptcy petition. FTFM Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-72292) 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 Louis A. Scarcella handles the case. FUND FOR SANDY: Hires CAN-US Tax & Accounting as Accountant ----------------------------------------------------------- The Fund for Sandy Point North Carolina LP seeks approval from the U.S. Bankruptcy Court for the Eastern District of North Carolina to employ Elliott Milek of CAN-US Tax & Accounting, Inc. to serve as its accountant. The firm will provide these services: (a) assist with the preparation of the Debtor's 2025 U.S. tax filings; (b) prepare the Debtor's Federal Form 1065; (c) prepare and file the Debtor's North Carolina tax return; and (d) provide limited accounting and analysis solely for purposes of preparing complete and accurate income tax returns. Mr. Milek and CAN-US Tax & Accounting, Inc. will receive $1,300 for preparation of the Federal Form 1065 and $200 for the preparation and filing of the North Carolina tax return, subject to further Court approval prior to payment. CAN-US Tax & Accounting, Inc. is a "disinterested party" within the meaning of 11 U.S.C. Sec. 101(14) and Sec. 327(a), according to court filings, and has no adverse interest to the estate. The firm can be reached at: Elliott Milek CAN-US Tax & Accounting, Inc. 201 City Centre Drive, Suite 200 Mississauga, ON L5B 2T4 E-mail: emonzo@morrisjames.com jlevin@morrisjames.com scerra@morrisjames.com About The Fund for Sandy Point North Carolina LP The Fund for Sandy Point North Carolina LP sought protection under Chapter 11 of the Bankruptcy Code (Bankr. E.D.N.C. Case No. 26-01339) on March 25, 2026.. At the time of the filing, Debtor had estimated assets of between $1,000,001 to $10 million and liabilities of between $1,000,001 to $10 million. Judge David M. Warren oversees the case. Hendren, Redwine & Malone, PLLC is Debtor's legal counsel. GABBY INVESTMENT: Seeks Subchapter V Bankruptcy in Massachusetts ---------------------------------------------------------------- On June 5, 2026, Gabby Investment LLC filed for Chapter 11 protection in the U.S. Bankruptcy Court for the District of Massachusetts. According to court filings, the Debtor reports between $100,001 and $1 million in debt owed to 1-49 creditors. A meeting of creditors under Section 341(a) to be held on July 8, 2026 at 01:30 PM as Telephonic Meeting. Chapter 11 Plan Small Business Subchapter V due by 9/3/2026. September 3, 2026 set as deadline for Chapter 11 Subchapter V Plan. About Gabby Investment LLC Gabby Investment LLC is a privately held investment and asset-holding company engaged in the ownership, management, and administration of investment-related assets and business interests. Gabby Investment LLC sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-40673) on June 5, 2026. In its petition, the Debtor reports estimated assets of $1 million to $10 million and estimated liabilities of $100,001 to $1 million. Honorable Bankruptcy Judge Elizabeth D. Katz handles the case. The Debtor is represented by Marcus L. Scott, Esq. of ScottCollins, LLP. Stephen Darr serves as Subchapter V Trustee. GABHALTAIS TEAGHLAIGH: Sept. 10 Hearing Set in Gill Adversary Case ------------------------------------------------------------------ Judge Elizabeth D. Katz of the U.S. Bankruptcy Court for the District of Massachusetts scheduled a final pre-trial hearing for Sept. 10 in the adversary proceeding captioned as GABHALTAIS TEAGHLAIGH LLC, Plaintiff, v. JASPAL GILL, Defendant, Adversary Proceeding No. 26-01008. The discovery deadline is July 17. The Debtor seeks a judgment from this Court avoiding the mortgage against the real property known as: (a) 47 Old Harbor Street, South Boston, Mass.; (b) 283 West Fifth Street, South Boston, Mass.; (c) 193 Randolph Street, Weymouth, Mass.; and (d) 15 Simms Court, Newton, Mass. The Real Property is held by Defendant Jaspal Gill pursuant to a mortgage dated July 6, 2022, in the original principal amount of $2,510,000.00, and recorded on July 7, 2022 with the Norfolk County Registry of Deeds in Book 40667, Page 391; recorded on July 8, 2022 with the Suffolk County Registry of Deeds on July 8, 2022 in Book 67920, Page 153; and recorded on July 7, 2022 with the Middlesex South County Registry of Deeds in Book 80400, Page 29. Debtor further seeks a judgment declaring that: -- the Gill Mortgage was not a valid encumbrance on the Real Property; -- the Gill Mortgage does not attach to the proceeds from the sale of the Real Property; -- Gill is not a creditor of Debtor's estate; and -- Gill is not entitled to recover from the administration of the Debtor's estate. A copy of the Complaint is available at https://urlcurt.com/u?l=4o2nnr from PacerMonitor.com. About Gabhaltais Teaghlaigh LLC Gabhaltais Teaghlaigh, LLC is a real estate rental company that immediately prior to the petition date, owned six residential or commercial properties. Gabhaltais Teaghlaigh sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Mass. Case No. 22-10839) on June 15, 2022. In the petition filed by Virginia Hung, as member, Gabaltais Teaghlaigh listed under $50,000 in both assets and liabilities. Judge Elizabeth D. Katz oversees the case. David G. Baker, Esq., at Baker Law Offices is the Debtor's bankruptcy counsel. Synergy Funding is represented by Alex F. Mattera, Esq., at Pierce Atwood, LLP, in Boston, Mass. GLOBAL ENTERPRISE: Gets Extension to Access Cash Collateral ----------------------------------------------------------- Global Enterprise of South Florida, Inc. received second interim approval from the U.S. Bankruptcy Court for the Southern District of Florida, Fort Lauderdale Division, to use cash collateral. Under the second interim order, the Debtor is authorized to use cash collateral to pay the expenses set forth in an approved budget, which provides a four-week cash flow forecast outlining expected receipts and necessary expenditures. This authorization will continue until further order of the court. The Debtor's cash collateral consists of funds in which its secured lenders, the U.S. Small Business Administration and Newtek Bank, N.A., claim an interest. As protection, the SBA, Newtek and other secured creditors will receive replacement liens on the pre-petition collateral, with the same validity, priority and extent as their pre-petition liens. In case the replacement liens prove inadequate, secured creditors will receive superpriority administrative expense claims. The order is available at https://shorturl.at/LQSwA from PacerMonitor.com. The court will hold a further hearing on July 22. Global Enterprise of South Florida operates a disaster restoration business in Pompano Beach, Florida, providing emergency mitigation and recovery services. Prior to its Chapter 11 filing on April 17, the Debtor experienced severe financial distress, including cash-flow shortages, mounting creditor pressure, tax delinquencies, and risks that certain aggressive creditors might interfere with receivables by issuing lien notices to customers or payment processors. These conditions threatened to disrupt the Debtor's ability to collect revenue and continue operations as a going concern. About Global Enterprise of South Florida Inc. Global Enterprise of South Florida, Inc. operates a disaster restoration business in Pompano Beach, Florida. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 26-14885) on April 17, 2026. In the petition signed by Tivadar Bodorlo, president, the Debtor disclosed up to $1 million in assets and up to $10 million in liabilities. Judge Scott M. Grossman oversees the case. Andrew Kamensky, Esq., at Tax Workout Group, PA, represents the Debtor as legal counsel. GOGO INC: Fitch Assigns 'B' First-Time IDR, Outlook Stable ---------------------------------------------------------- Fitch Ratings has assigned a first-time 'B' Issuer Default Rating (IDR) to Gogo, Inc. and Gogo Intermediate Holdings, LLC. Fitch has also assigned Gogo Intermediate Holdings, LLC's senior secured debt a 'BB-' rating with a Recovery Rating of 'RR2'. The Rating Outlook is Stable. The ratings reflect Gogo's deleveraging progress. Leverage has fallen below 4.0x after the company funded the Satcom Direct acquisition with debt in 2024. The ratings also reflect its solid liquidity position, which is supported by an unused $122 million RCF, over $100 million of cash, and a cash-generating business. The rating is supported by management's continued commitment to prioritize deleveraging and maintaining net leverage within its 2.5x-3.5x target, evidenced by its recent track record. Competition in satellite connectivity solutions is the primary rating constraint. The Stable Outlook reflects Fitch's expectation that Gogo's leverage and liquidity will remain consistent with other similarly rated peers. Key Rating Drivers Deleveraging On Track: Fitch-calculated gross leverage has returned below 4.0x in 2025 from the temporarily elevated level of 5.9x due to the Satcom Direct acquisition. Fitch expects leverage to remain below 4.0x throughout the forecast, supported by the ramp-up of 5G and Low Earth Orbit (LEO) satellite solutions (Gogo Galileo or Galileo). Gogo has publicly committed to prioritizing deleveraging and has a net leverage target of 2.5x-3.5x. Fitch also expects Gogo to partially pay down its current debt stack upon refinancing its term loans, using its cash balance, and does not expect Gogo to pursue another debt-funded acquisition in the near term given limited sizable opportunities in the space after recent industry consolidation. Fitch expects Gogo to maintain positive FCF even if the refinancing is done at a higher cost. Fitch expects the overall leverage profile to remain consistent with other similarly rated peers throughout the forecast. Competition Risk: Fitch believes competition risk remains a limiting factor. Gogo competes with various equipment providers and satellite-based telecommunications services (LEO and Geostationary Earth Orbit [GEO]) in the business aviation market, as well as government communications service providers and manufacturers of defense electronics products. Competition has intensified, especially with LEO connectivity providers like SpaceX. This pressure is evident from Starlink's recent win of certain contracts with NetJets Inc. While the competitiveness of Gogo's offerings remains to be proven at scale, its multi-band capacity, lower-cost products like the half-duplex system, and extensive customer support network should support its competitive position. Gogo's recent contract wins, including Vista Global Holding and several military and governmental contracts, have shown the competitiveness of its multi-orbit offerings. Fitch expects the relevant markets to remain underpenetrated, which leaves room for multiple winners. Even so, competitive risk remains a rating constraint. Solid Financial Flexibility: Fitch believes Gogo has solid liquidity, with $122 million available under its revolving facility and $104 million of cash as of March 31, 2026. FCF is solid. Fitch expects high-single-digit margins on average. This will be driven by lower capital and operating expenditures as investments in Gogo 5G, Galileo and the FCC Program approach completion, along with lower interest rates upon refinancing. EBITDA interest coverage is projected to exceed and remain above 3.0x starting in 2027. The solid liquidity position and cash flow generation are supportive of the rating. 5G and Galileo Ramp-Up: Fitch expects the ramp-up of 5G and Galileo equipment shipments to support long-term growth in service revenue, average monthly service revenue per air-to-ground (ATG) aircraft online and margins, as customers move to higher-margin plans. However, near-term pressure on ATG remains. Gogo launched its 5G ATG connectivity services in January 2026, the expected future core driver of its ATG business, and shipped 52 5G units in 1Q26. It expects to have 400 aircraft online (AOL) on its 5G network. Gogo Galileo continues to gain traction, with 92 units shipped, with 111 AOL expected in 1Q26. Gogo expects to have 700 Galileo AOL by YE 2026. FCC Reimbursement Program: Fitch expects the company to benefit from the FCC Rip-and-Replace Program, which requires mandatory, reimbursed equipment replacement, providing a lower-cost hurdle for future transitions. Gogo's customers are required to upgrade their ATG equipment to be compatible with the LTE network by November 2026. Fitch expects the conversion of these legacy Classic customers to strain Gogo's ATG performance, as the conversion limits upselling opportunities temporarily and results in customer attrition. Gogo expects total ATG AOL to decline by about 1,000 in 2026. Fitch expects ATG performance to recover once transitions are completed. Peer Analysis The IDR reflects Gogo's leading market position in the U.S. ATG in-flight connectivity market, and competitive pressures in global satellite broadband solutions market. Viasat, Inc. (B/Stable) is a peer in the satellite connectivity market and primarily provides GEO connectivity. Viasat and Gogo both face intense competition from LEO providers such as SpaceX. While Viasat has better margins and interest coverage metrics, its cash flow profile is weaker than Gogo's due to high capex requirements to build satellite networks. Their leverage profiles are comparable. Gogo also competes with SES S.A. (BBB-/Stable) and operates alongside Iridium Communications Inc. (BB/Stable). SES has a significantly larger scale than Gogo's while Iridium is more comparable to Gogo. Gogo has less diversified offerings and is less profitable in terms of EBITDA margin than both peers. Their leverage profiles are comparable, but Gogo has lower EBITDA interest coverage. Fitch’s Key Rating-Case Assumptions - Fitch expects revenue to decline slightly YoY in light of the ongoing pressure on the ATG business, and expects average medium-term growth at low-single digits; - Adjusted EBITDA margins in the range of the low-to-mid-20% over the forecast; - Fitch expects capex at $65 million, inclusive of $45 million FCC Program-related spending, and expects capex to decline towards 2% of revenue over the forecast; - Fitch anticipates Fitch-adjusted FCF to be in the range of 5%-10% of revenue over the forecast; - Fitch considers the earnout payments made in April 2026 and assumes total earnout payments of approximately $150 million. Corporate Rating Tool Inputs and Scores Fitch scored the issuer as follows, using its Corporate Rating Tool (CRT) to produce the Standalone Credit Profile (SCP): Business and financial profile factors (assessment, relative importance): management ('bb', Moderate), sector characteristics ('bb+', Moderate), market and competitive positioning ('b', Higher), diversification and asset quality ('bb+', Lower), company operational characteristics ('bb+', Lower), profitability ('bb', Moderate), financial structure ('bb', Moderate), and financial flexibility ('b+', Higher). The quantitative financial subfactors are based on standard CRT financial period parameters: 20% weight for the latest historical year 2025, 40% for the forecast year 2026 and 40% for the forecast year 2027. B+ to CC considerations apply in its analysis and results in an adjustment of -1 notch(es). The governance assessment of 'good' has no impact. The operating environment assessment of 'aa-' has no impact. The SCP is 'b'. To derive the Long-Term IDR: Fitch made no adjustments to the SCP, resulting in an IDR of 'B'. Recovery Analysis For entities rated 'B+' and below, where default is closer and recovery prospects are more meaningful to investors, Fitch undertakes a tailored, or bespoke, analysis of recovery upon default for each issuance. The resulting debt instrument rating includes a Recovery Rating or published 'RR' (graded from RR1 to RR6), and is notched from the Issuer Default Rating accordingly. In this analysis, there are three steps: (i) estimating the distressed enterprise value (EV); (ii) estimating creditor claims; and (iii) distribution of value. The recovery analysis assumes that the company would be reorganized as a going concern in bankruptcy rather than liquidated. Fitch makes the following assumptions in its recovery analysis: Fitch assumed that Gogo Inc. would be reorganized as a going-concern rather than liquidated and applied a 10% administrative claim on the enterprise value. Fitch estimates a GC EBITDA of $160 million considering a scenario where Gogo experiences revenue decline and EBITDA margin compression due to market share erosion under competitions from operators like Starlink in both business jet and military / government markets. Fitch also assumed the $122 million senior secured revolver to be fully drawn in such scenario and EV multiple of 5.5x. The multiple considers the following factors: - Per Fitch's 2025 Telecom, Media and Technology Bankruptcy Enterprise Values and Creditor Recoveries report, the median TMT multiple of reorganization enterprise value/forward EBITDA was 5.9x, with the median for telecom companies at 5.5x; - The above-mentioned report includes Speedcast International Limited, a satellite communications and network service provider. Speedcast emerged from bankruptcy in early 2021 with a multiple of 8.7x. Similar to Gogo, Speedcast did not own its own satellites and had a less diversified revenue stream than other satellite connectivity providers; - Fitch also considered Viasat's acquisition of Inmarsat at approximately 9x EV/EBITDA (at the time of announcement in 2021) and more recently SES's acquisition announcement in 2024 of Intelsat estimated at approximately 6x. Fitch estimated GC enterprise value for distribution to be $792 million and assigned the recovery rating for the first-lien secured facilities at 'RR2'. RATING SENSITIVITIES Factors that Could, Individually or Collectively, Lead to Negative Rating Action/Downgrade - Deterioration in operating profile, including market share loss to competitors resulting in less- than-anticipated revenue growth or EBITDA margins; - EBITDA leverage sustained above 5.0x; - (CFO-capex)/ total debt sustained below 2.5%. Factors that Could, Individually or Collectively, Lead to Positive Rating Action/Upgrade - Proven success and competitive position of Gogo 5G and Galileo solutions, evidenced by contract wins, significant revenue growth and/or EBITDA margins expansion; - EBITDA leverage sustained below 4.0x; - (CFO-capex)/ total debt sustained above 7.5%. Liquidity and Debt Structure Gogo has a strong liquidity position with $104 million of cash balances and $122 million of entirely available revolver capacity as of March 31, 2026. Fitch also expects the company to continue to generate positive FCF. The company does not have any significant maturities until 2028 when its $847 million term loans mature. The RCF will mature in 2029 and remain undrawn. The $725 million term loan and $250 million HPS term loan will mature in 2028 with 1% p.a. amortization. Issuer Profile Founded in 1991, Gogo Inc. is a U.S.-based provider of in-flight broadband connectivity services and related digital services for the business aviation, military and government market. Gogo offers broadband ATG as well as GEO and LEO satellite solutions through Gogo Galileo. MACROECONOMIC ASSUMPTIONS AND SECTOR FORECASTS Fitch's latest quarterly Global Corporates Sector Forecasts Monitor data file which aggregates key data points used in its credit analysis. Fitch's macroeconomic forecasts, commodity price assumptions, default rate forecasts, sector key performance indicators and sector-level forecasts are among the data items included. Climate Vulnerability Signals The results of its Climate.VS screener did not indicate an elevated risk for Gogo Inc. ESG Considerations The highest level of ESG credit relevance is a score of '3', unless otherwise disclosed in this section. A score of '3' means ESG issues are credit-neutral or have only a minimal credit impact on the entity, either due to their nature or the way in which they are being managed by the entity. Fitch's ESG Relevance Scores are not inputs in the rating process; they are an observation on the relevance and materiality of ESG factors in the rating decision. Entity/Debt Rating Recovery ----------- ------ -------- Gogo Inc. LT IDR B New Rating Gogo Intermediate Holdings LLC LT IDR B New Rating senior secured LT BB-New Rating RR2 GOHEALTH INC: Case Summary & 30 Largest Unsecured Creditors ----------------------------------------------------------- Lead Debtor: GoHealth, Inc. 222 West Merchandise Mart Plaza, Suite 1750 Chicago, IL 60654 Business Description: GoHealth is a Chicago, Illinois-based health insurance marketplace founded in 2001 by Brandon Cruz and Clinton Jones. The company assists consumers with comparing Medicare health plans and certain other insurance products using proprietary technology and provides support during and after enrollment. GoHealth also offers enrollment services for multiple plan types and one-on-one consultations through licensed agents. The company originally operated as Norvax, Inc. and initially provided lead management software and digital services to independent health insurance brokers. Chapter 11 Petition Date: June 7, 2026 Court: United States Bankruptcy Court District of Delaware Eight affiliates that concurrently filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code: Debtor Case No. ------ -------- GoHealth, Inc. (Lead Case) 26-10914 GoHealth Holdings, LLC 26-10915 Blizzard Midco, LLC 26-10916 Norvax, LLC 26-10917 ETQ Holdings, LLC 26-10918 Connected Benefits, LLC 26-10919 GoHealth, LLC 26-10920 E-TeleQuote Insurance, Inc. 26-10921 Judge: Hon. Thomas M. Horan Debtors' Counsel: Laura Davis Jones, Esq. James E. O'Neill, Esq. Edward A. Corma, Esq. PACHULSKI STANG ZIEHL & JONES LLP 919 North Market Street, 17th Floor Wilmington Delaware 19801 Tel: 302-652-4100 Fax: 302-652-4400 Email: ljones@pszjlaw.com joneill@pszjlaw.com ecorma@pszjlaw.com Debtors' Bankruptcy Co-Counsel: Anup Sathy, P.C. Alexandra F. Schwarzman, P.C. David R. Gremling, Esq. KIRKLAND & ELLIS LLP KIRKLAND & ELLIS INTERNATIONAL LLP 333 West Wolf Point Plaza Chicago, Illinois 60654 Tel: (312) 862-2000 Fax: (312) 862-2200 Email: anup.sathy@kirkland.com alexandra.schwarzman@kirkland.com dave.gremling@kirkland.com Total Assets as of March 31, 2026: $917,917,000 Total Debts as of March 31, 2026: $986,705,000 The petitions were signed by Vijay Kotte as authorized signatory. A full-text copy of the Lead Debtor's petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/YK6BUXA/GoHealth_Inc__debke-26-10914__0001.0.pdf?mcid=tGE4TAMA Entity Nature of Claim Claim Amount 1. Bankers Life Agency, Inc. Carrier $11,000,000 303 E. Wacker Dr. Suite 500 Chicago, IL 60601 Contact: Matthew J. Zimpfer General Counsel Tel: 800-231-9150 Email: matt.zimpfer@cnoinc.com 2. Together Health Trade $6,757,192 7551 Wiles Rd Coral Springs, FL 33067 Contact: Huy Tran, Founder and CEO Tel: 615-663-9834 Email: huy@togetherhealth.co 3. OneDigital Medicare Services LLC Trade $4,559,000 300 Galleria Pkwy SE Suite 1100 Atlanta, GA 30339 Contact: Erica Zinkie Executive Vice President of Legal Tel: 678-428-9258 Email: ezinkie@digitalinsurance.com 4. Senior Protect Solutions, Inc. Trade $1,600,000 2365 Northside Dr Suite 575 San Diego, CA 92108 Contact: Keith Mendonsa Managing Director Tel: 916-402-7928 Email: hhc442@hotmail.com 5. Health Insurance Associates Trade $1,077,400 1175 Beville Road Daytona Beach, FL 32119 Contact: Drew Brown Chief Operating Officer Tel: 843-571-7130 Email: drew.brown@hillstone.com 6. ExactCare Trade $1,000,000 8333 Rockside Road Valley View, OH 44125 Contact: Aly Kayne, Chief Legal Officer Tel: 513-405-9090 Email: akayne@anewhealthrx.com 7. Blue Cross Blue Shield of Illinois IBNR and $987,902 300 E. Randolph St. Trade Payable Chicago, IL 60601 Contact: Catherine Nelson, Chief Legal Officer Tel: 630-260-1479 Email: catherine_nelson@hcsc.net 8. Senior Healthcare Advisors LLC Trade $800,000 828 S. Military Trail Deerfield Beach, FL 33442 Contact: Daniel Post, Owner Tel: 954-737-4110 Email: daniel@seniorhealthcareadv.com 9. IT Savvy Trade payable $729,046 201 Merritt 7 Norwalk, CT 06851 Contact: Flor M. Colon Chief Legal Officer Tel: 800-275-9376 Email: flor.colon@xerox.com 10. Inulti Inc Trade payable $659,275 5810 Coral Ridge Dr Suite 120 Coral Springs, FL 33076 Contact: Tadas Svetikas Legal Counsel Tel: 443-201-7630 Email: tadas.svetikas@inulti.com 11. Eight Eleven Group, LLC Trade $412,093 (DBA Brooksource) 6215 N College Ave Indianapolis, IN 46220 Contact: Jason Caress, Vice President of Legal Tel: 214-284-6400 Email: jcaress@eightelevengroup.com 12. Ping Health LLC Trade $300,000 121 West Trade Street Charlotte, NC 28202 Contact: Zackery Rider, Co-Founder Tel: 800-211-9288 Email: Zackery.Rider@pinghealth.com 13. Microsoft Online Services Trade payable $262,339 1 Microsoft Way Redmond, WA 98052 Contact: Jonathan Palmer, Chief Legal Officer Tel: 425-538-7734 Email: jopalmer@microsoft.com 14. Optiv Trade payable $261,910 1144 15th Street Suite 2900 Denver, CO 80202 Contact: William Croutch, General Counsel Tel: 786-282-4849 Email: william.croutch@optiv.com 15. New Relic Trade payable $231,840 188 Spear Street Suite 1000 San Francisco, CA 94105 Contact: Ashish Agarwal, Chief Financial Officer Tel: 510-857-5817 Email: ashishagarwal@newrelic.com 16. EngageCX, Inc. Trade $200,000 (FKA ViaSource Solutions, Inc) 223 E Thousand Oaks Blvd Suite 222 Thousand Oaks, CA 91360 Contact: Len Linton, Chief Financial Officer Tel: 805-377-5040 Email: llinton@engagecx.com 17. Ryan Companies US Inc - REM Trade $189,000 533 South Third Street Suite 100 Minneapolis, MN 55415 Contact: Laura Graf, Chief Legal Officer Tel: 612-309-3948 Email: laura.graf@ryancompanies.com 18. Ogletree, Deakins, Nash, Professional $182,595 Smoak & Stewart, P.C. services 300 North Main Street Greenville, SC 29601 Contact: David C. Zimbrick, Chief Financial Officer Tel: 864-241-1982 Email: david.zimbrick@ogletreedeakins.com 19. Planful Inc Trade payable $162,958 2261 Market Street Suite 36245 San Francisco, CA 94114 Contact: John Herr, Chief Executive Officer Tel: 650-249-7100 Email: ceo@planful.com 20. Amazon Web Services - AWS Trade payable $161,113 410 Terry Avenue North Seattle, WA 98109 Contact: David A. Zapolsky, Chief Global Affairs & Legal Officer Tel: 206-266-1323 Email: David.Zapolsky@amazon.com 21. Five9, Inc. Trade payable $141,403 3001 Bishop Drive Suite 350 San Ramon, CA 94583 Contact: Tiffany Meriweather, Chief Administrative and Legal Officer Tel: 404-431-9813 Email: tiffany.meriweather@five9.com 22. Greenhouse Software, Inc. Trade payable $129,860 228 Park Ave. S PMB 14744 New York, NY 10003 Contact: Jung-Kyu McCann, Chief Legal Officer Tel: 650-799-7772 Email: jung.mccann@greenhouse.io 23. Speedeon Data, LLC Trade payable $124,604 5875 Landerbrook Drive Suite 130 Cleveland, OH 44124 Contact: Neil Barry, Chief Legal Officer Tel: 914-961-1706 Email: nbarry@speedeondata.com 24. Astronomer, Inc. Trade payable $111,551 50 West 23rd Street Suite 1400 New York, NY 10010 Contact: Pete Dejoy, CEO, Co-Founder Tel: 914-426-3051 Email: pete@astronomer.io 25. Quantum Digital Media Trade payable $98,148 6511 West Oakton Street Morton Grove, IL 60053 Contact: Mary Cluney, Chief Financial Officer Tel: 201-747-8781 Email: mcluney@quantumgroup.com 26. Choate, Hall & Stewart LLP Professional $80,175 Two International Place Services Boston, MA 02110 Contact: Robert M. Buchanan, Jr., Senior Counsel Tel: 617-248-5027 Email: rbuchanan@choate.com 27. Schellman & Company Professional $70,875 4010 W Boy Scout Boulevard Services Suite 600 Tampa, FL 33607 Contact: Ben Allen, General Counsel Tel: 866-254-0000 Email: ben.allen@schellmanco.com 28. Google Trade payable $60,492 1600 Amphitheatre Parkway Mountain View, CA 94043 Contact: Halimah DeLaine Prado, General Counsel Tel: 650-253-8205 Email: hprado@googlemail.com 29. Apex Trade payable $51,160 4400 Cox Road Suite 200 Glen Allen, VA 23060 Contact: Buddy Omohundro, General Counsel Tel: 804-237-8333 Email: bomohundro@apexsystemsinc.com 30. WalkMe Inc. Trade payable $50,000 350 Mission St Floor 26 San Francisco, CA 94105 Contact: Iris Pappo, General Counsel Tel: +972-50-786-9814 Email: iris.pappo@walkme.com GOHEALTH INC: Deadline for Panel Questionnaires Set for June 15 --------------------------------------------------------------- The United States Trustee is soliciting members for committee of unsecured creditors in the bankruptcy cases of GoHealth Inc., et al. If a party wishes to be considered for membership on any official committee that is appointed, it must complete a questionnaire available at https://tinyurl.com/2nnfe5vr and return by email it to Benjamin A. Hackman -- Benjamin.A.Hackman@usdoj.gov -- at the Office of the United States Trustee so that it is received no later than 4:00 p.m., on Monday, June 15, 2025. If the U.S. Trustee receives sufficient creditor interest in the solicitation, it may schedule a meeting or telephone conference for the purpose of forming a committee. The petitions were signed by Vijay Kotte as authorized signatory. The Debtors reported $917,917,000 in total assets as of March 31, 2026, and $986,705,000 in total debts as of March 31, 2026. The petitions were signed by Vijay Kotte as authorized signatory. About GoHealth Inc. GoHealth Inc. is a health insurance brokerage company. GoHealth Inc. and its affiliates 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 reported estimated assets between $500 million and $1 billion and estimated liabilities between $1 billion and $10 billion. The Honorable Bankruptcy Judge Thomas M. Horan handles the cases. The Debtors are represented by Pachulski, Stang, Ziehl & Jones LLP. Kirkland & Ellis LLP serves as the Debtors' bankruptcy co-counsel. GOHEALTH INC: Gets OK for Mid-July Chapter 11 Confirmation Hearing ------------------------------------------------------------------ Rick Archer of Law360 Bankruptcy Authority reports that GoHealth Inc. took a significant step forward in its Chapter 11 case after a Delaware bankruptcy judge scheduled a mid-July hearing to consider the company's proposed reorganization plan. The health insurance broker is seeking to address roughly $762 million in outstanding debt through a lender-backed restructuring. The plan calls for a refinancing transaction and an equity swap that would place ownership of the company in the hands of its existing lenders. GoHealth maintains that the restructuring will strengthen its financial foundation and position the business for long-term stability following years of operational and market pressures, the report states. With procedural approvals now in place, the company can begin soliciting support and preparing for confirmation. GoHealth expects the transaction to streamline its capital structure and enable it to continue serving customers without interruption during and after the Chapter 11 process, 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. GRABOYES LLC: Case Summary & 20 Largest Unsecured Creditors ----------------------------------------------------------- Debtor: Graboyes, LLC d/b/a Graboyes Commercial Window & Glass Solutions 171A Rittenhouse Circle Bristol, PA 19007 Business Description: Graboyes, LLC, doing business as Graboyes Commercial Window & Glass Solutions, is a Bristol, Pennsylvania- based commercial glazing and fenestration firm. The company provides architectural glass and metal construction, window installation and replacement, curtainwall systems, window wall systems, storefront solutions, building-integrated solar facade systems, window coverings and controls, and related service and maintenance. It also provides design, engineering, estimating and pre-construction, design-build, project management, and installation services. The company serves projects including historic restorations, new construction, mid- and high-rise renovations, apartment buildings, schools, universities, hospitals, and condominiums in Greater Philadelphia and the surrounding region. Chapter 11 Petition Date: June 5, 2026 Court: United States Bankruptcy Court Eastern District of Pennsylvania Case No.: 26-12458 Judge: Hon. Patricia M Mayer Debtor's Counsel: Jeffrey C. Hampton, Esq. SAUL EWING LLP 1735 Market Street Suite 3400 Philadelphia, PA 19103-7504 Tel: 215-972-7118 E-mail: jeffrey.hampton@saul.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $10 million to $50 million The petition was signed by Ellis G. Guiles Jr. 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/3IYBW6Y/Graboyes_LLC__paebke-26-12458__0001.0.pdf?mcid=tGE4TAMA GREYHOUND ARAMINGO: Seeks to Hire Ciardi Ciardi & Astin as Counsel ------------------------------------------------------------------ Greyhound Aramingo Petroleum Co., Inc. seeks approval from the United States Bankruptcy Court for the Eastern District of Pennsylvania to hire Ciardi Ciardi & Astin to serve as its legal counsel. The firm will provide these services: (a) give the Debtor legal advice with respect to its powers and duties as a Debtor-in-possession; (b) prepare on behalf of the Debtor any necessary applications, answers, orders, reports, and other legal papers; (c) perform all other legal services for the Debtor which may be necessary herein; and (d) prepare and file a Plan of Reorganization. The firm will be paid at these hourly rates: Albert A. Ciardi, III, Esq. $625 Daniel S. Siedman, Esq. $450 Dorene Torres (Paralegal) $150 Ciardi Ciardi & Astin is a "disinterested person" within the meaning of Section 101(1) of the Bankruptcy Code, and according to court filings, the firm conducted a conflict check to ensure it does not hold or represent any adverse interests with respect to the Debtor, the estate, or any party in interest. The firm can be reached at: Albert A. Ciardi, III, Esq. CIARDI CIARDI & ASTIN 1905 Spruce Street Philadelphia, PA 19003 About Greyhound Aramingo Petroleum Co., Inc. Greyhound Aramingo Petroleum is a privately held company whose main asset is a commercial property at 2750 Aramingo Avenue in Philadelphia. Greyhound Aramingo Petroleum Co., Inc. sought protection under Chapter 11 of the Bankruptcy Code (Bankr. E.D. Pennsylvania Case No. 26-12387) on June 1, 2026. At the time of filing, the Debtor had estimated assets of between $1,000,001 and $10 million and liabilities of between $1,000,001 and $10 million. Judge Derek J Baker oversees the case. Ciardi Ciardi & Astin is Debtor's legal counsel. GWG HOLDINGS: Trust Dissolution Deadlines Extended to Aug. 1, 2028 ------------------------------------------------------------------ Chief Judge Eduardo V. Rodriguez of the U.S. Bankruptcy Court for the Southern District of Texas extended the dissolution deadlines of the GWG Litigation Trust and GWG Wind Down Trust to August 1, 2028. Michael I. Goldberg is the Trustee of the GWG Litigation Trust. Tom A. Howley is the Successor Wind Down Trustee of the GWG Wind Down Trust. A copy of the Court's Order dated June 9, 2026, is available at https://urlcurt.com/u?l=vvayA0 from PacerMonitor.com. About GWG Holdings Headquartered in Dallas Texas, GWG Holdings, Inc. (NASDAQ: GWGH) conducts its life insurance secondary market business through a wholly owned subsidiary, GWG Life, LLC, and GWG Life's wholly owned subsidiaries. GWG Holdings Inc. and affiliates sought Chapter 11 bankruptcy protection (Bankr. S.D. Texas Lead Case No. 22-90032) on April 20, 2022. In the petition filed by Murray Holland, president and chief executive officer, GWG Holdings disclosed between $1 billion and $10 billion in both assets and liabilities. Judge Marvin Isgur oversees the cases. The Debtors tapped Mayer Brown, LLP and Jackson Walker, LLP, as bankruptcy counsels; Tran Singh, LLP as special conflicts counsel; FTI Consulting, Inc. as financial advisor; and PJT Partners, LP, as investment banker. Donlin Recano & Company is the Debtors' notice and claims agent. National Founders LP, a DIP lender, is represented by Michael Fishel, Esq., Matthew A. Clemente, Esq., and William E. Curtin, Esq., at Sidley Austin, LLP. The U.S. Trustee for Region 7 appointed an official committee to represent bondholders in the Debtors' cases. The committee tapped Akin Gump Strauss Hauer & Feld, LLP and Porter Hedges, LLP, as legal counsels; Piper Sandler & Co. as investment banker; and AlixPartners, LLP as financial advisor. The Debtors obtained confirmation of their Further Modified Second Amended Joint Chapter 11 Plan on June 20, 2023. HANEY INC: Seeks Approval to Re-Employ Goering & Goering as Counsel ------------------------------------------------------------------- Haney Inc. seeks approval from the U.S. Bankruptcy Court for the Southern District of Ohio to reemploy Goering & Goering, LLC to serve as its legal counsel. The firm will provide these services: (a) take all necessary actions to protect and preserve the property of the bankruptcy estate, including the prosecution of actions on behalf of the Debtor, defense of actions commenced against the Debtor or the Estate, negotiations concerning litigation in which the Debtor may be involved, and objections to claims filed against the Estate; (b) prepare on behalf of the Debtor all necessary motions, applications, answers, orders, reports, and other legal papers in connection with the administration of the Estate; and (c) perform all other necessary legal services in connection with this Chapter 11, Subchapter V case. G & G will receive hourly rates of $600 for attorneys and $350 for attorneys, with paralegal rates at $175 per hour. The affidavit states that rates are subject to change on a yearly basis. Goering & Goering, LLC is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code, according to court filings. The firm can be reached at: Eric W. Goering, Esq. Alexis Mize, Esq. GOERING & GOERING, LLC 220 West Third Street Cincinnati, OH 45202 Telephone: (513) 621-0912 About Haney Inc. Haney, Inc., is a consumer packaging micro-supply chain which handles all aspects of small-batch packaging projects, from concepting and prototyping, to packing and fulfillment. Haney Inc. filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Ohio Case No. 24-11405) on June 21, 2024, listing $1,965,433 in assets and $4,079,770 in liabilities. The petition was signed by Matthew Haney as CEO. Judge Beth A Buchanan presides over the case. Eric W. Goering, Esq., at GOERING & GOERING represents the Debtor as counsel. HAYWARD INDUSTRIES: Moody's Ups CFR to Ba3, Outlook Stable ---------------------------------------------------------- Moody's Ratings upgraded Hayward Industries, Inc.'s (Hayward) ratings including the Corporate Family Rating to Ba3 from B1, Probability of Default Rating to Ba3-PD from B1-PD, and the rating on the company's existing senior secured first lien term loan B due 2028 to Ba3 from B2. At the same time, Moody's assigned a Ba3 rating to the company's proposed new senior secured first lien credit facilities, consisting of a $425 million revolving credit facility due 2031 and a $960 million first lien term loan B due 2033. The outlook changed to stable from positive and the speculative grade liquidity rating remains SGL-1. Hayward will utilize the net proceeds from the proposed $960 million first lien term loan due 2033 to fully repay its existing first lien term loan due 2028. The company will also replace its existing $425 million asset based lending (ABL) facility expiring 2028 with a new $425 million first lien revolver expiring 2031. Moody's will withdraw the rating on the company's existing first lien term loan upon the close of the transaction and the full repayment of the debt instrument. The rating upgrades reflect Hayward's solid operating performance with good earnings growth and cash flow generation despite a challenging consumer environment, supported by its large participation in the resilient aftermarket pool equipment end-market. The company's continued growing revenue with a healthy EBITDA margin supports good free cash flow generation, very good liquidity, and moderate financial leverage. Hayward's debt/EBITDA has gradually improved to 3.1x as of the last 12 months (LTM) 1Q2026 period, down from 3.2x and 3.6x as of fiscal 2025 and 2024 respectively. The upgrades also reflect improving governance considerations, including the company's commitment to maintaining moderate financial leverage. Hayward's financial policy includes its publicly stated net leverage target (as per company's calculation) of 2.0x to 3.0x, which stood at 2.4x as of the 1Q2026 LTM. The company has maintained this range since fiscal 2024. Moody's changed Hayward's financial strategy and risk management score to 3 from 4, the governance issuer profile score to G-3 from G-4 and the credit impact score to CIS-3 from CIS-4, reflecting these improved governance factors. The Ba3 rating on the proposed first lien credit facilities, the same as the Ba3 CFR, reflects that the first lien credit facility represents the preponderance of company's debt capital structure, pro forma for the proposed refinancing transaction. The upgrade of the existing first lien facility to Ba3 from B2 reflects the upgrade of the CFR and Moody's assumptions that the company would proceed with a refinancing into a revolver with a pari passu collateral claim even in the event the proposed term loan refinancing is not completed. RATINGS RATIONALE Hayward's Ba3 CFR reflects its strong market position and good brand awareness in the North American pool equipment industry, and its growing presence internationally. The company estimates its large aftermarket business represents about 85% of sales and that 50% of sales relate to maintenance and repairs, which provides some revenue stability. Hayward's good EBITDA margin of over 25% is supported by effective pricing power driven by product quality and innovation, and importance to pool operation, as well as cost vigilance. The healthy EBITDA margin supports good free cash flow generation and very good liquidity, which provides financial flexibility to manage the business seasonality and fund growth investments. Hayward's debt-to-EBITDA leverage is moderate at 3.1x as of LTM 1Q-2026 (based on Moody's calculation) but subject to volatility related to cyclical earnings swings or acquisitions. The company's financial policy includes targeting a net leverage ratio of 2.0x to 3.0x (based on the company's calculation), which was at 2.4x as of the 1Q-2026 period. The ratings also factor Hayward's narrow product focus in the pool equipment industry, and the inherent exposure to cyclical consumer discretionary spending. There is uncertainty around the depth and duration of the ongoing slowdown in the new pools market as consumers continue being selective with discretionary spending amid the cumulative inflation of recent years. The company's large exposure to relatively stable aftermarket sales for maintenance and repair helps to mitigate the cyclicality related to new pool construction and remodeling. Hayward also has high customer concentration, and its cash flows are highly seasonal. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS The stable outlook reflects Moody's expectations that aftermarket demand will remain stable and drive Hayward's good profitability, free cash flow generation, and credit metrics over the next 12-18 months. The ratings could be upgraded if the company meaningfully increases its scale and product diversity such that it reduces its exposure to cyclicality, and continues to grow earnings with a stable to improving EBITDA margin. An upgrade would also require debt/EBITDA to be sustained below 3.0x, and the company maintaining at least good liquidity supported by strong free cash flow and financial policies that sustain credit metrics at the above-mentioned levels. The ratings could be downgraded if operating performance materially deteriorates from factors such as lower demand, higher costs, supply chain disruptions, pricing pressure or weak execution. The ratings could also be downgraded if debt/EBITDA is sustained above 3.5x, free cash flow to debt is below 10%, liquidity deteriorates, or if the company completes a large debt-financed acquisition or shareholder distribution that materially increases leverage or reduces its financial flexibility. Hayward Industries, Inc. is a manufacturer of swimming pool equipment including pumps, heaters, sanitizers, filters, cleaners, and more. Hayward also manufactures equipment that controls the flow of fluids for various industrial end markets. The company's largest market is the US that represents over 75% of sales. Revenue as of the LTM 1Q-2026 was $1.1 billion. Hayward Holdings, Inc. is the indirect parent company of Hayward Industries, Inc. and its shares are listed in the New York stock exchange under the ticker symbol "HAYW" since going public in March 2021. The principal methodology used in these ratings was Consumer Durables published in December 2025. Hayward's Ba3 CFR is two notches below the scorecard-indicated outcome reflecting the company's exposure to the highly discretionary residential pools market and cyclical consumer discretionary spending, which create earnings volatility risks. HENNEPIN SCHOOLS: S&P Lowers Lease Revenue Bond Rating to 'B-' -------------------------------------------------------------- S&P Global Ratings lowered its rating on the City of Minneapolis' series 2021A tax-exempt and 2021B taxable charter school lease revenue bonds, issued for Hennepin Schools Building Co., Minnesota, to 'B-' from 'B+'. The outlook is negative. S&P said, "The downgrade and negative outlook reflect our view of the school's small-sized enrollment with fewer than 400 students in fall 2025 as well as ongoing declines from the impact of demographic factors; the potential for another debt service coverage covenant violation in fiscal 2026, following the violation in fiscal 2024; and the heightened risk for nonrenewal of its charter expiring June 30, 2027. "We consider Hennepin subject to elevated social factors reflecting demographic factors may affect the school's enrollment trends and its small student base. The school's enrollment includes students from recently settled immigrant groups, which can create uncertainty annual enrollment trends. We analyzed Hennepin's environmental and governance risks and consider them neutral in our credit rating analysis." Environmental, social, and governance (ESG) credit factors for this change in credit rating: -- Social capital S&P said, "The negative outlook reflects our expectation of charter renewal risk in the one-year outlook period, given that the school has not yet met the condition of improving academics, and our expectation for further operating pressure should enrollment fail to stabilize or continue dropping next school year. “We could lower the rating by multiple notches if the school receives a notice of nonrenewal by or before April 2027; if the school fails to correct its Form 990 filings, leading to the loss of tax-exempt status on the series 2021A bonds, which would be a technical default and a determination of taxability, which results in a mandatory redemption; or if enrollment falls further in fall 2026 such that it cannot reasonably meet coverage on the bonds. "We could revise the outlook to stable if the school addresses its multiple challenges, including successfully renewing its charter, managing at least stable enrollment, reinstates the federal tax-exempt status of the building company, and meets its DSC covenant." HIGH SIGN BREWING: Seeks Cash Collateral Access ----------------------------------------------- Hi Sign Brewing, LLC and Escondido HSB, LLC ask the U.S. Bankruptcy Court for the Western District of Texas, Austin Division, for authority to use cash collateral and provide adequate protection. The businesses include a parent company (Hi Sign Brewing, LLC), which holds most secured debt, and an operating subsidiary (Escondido HSB, LLC), which generates most of the operational cash flow. The filings were prompted in part by an imminent threat of utility shutoff by the City of Austin, and the Debtor notes that the property owner, also an investor, has allowed unpaid rent to accumulate and may convert rent obligations into equity. The Debtors report limited liquid assets at filing, including negligible cash and accounts receivable and approximately $114,000 in inventory. UCC searches indicate that Amplify Federal Credit Union holds a first lien on Hi Sign's assets, while BFG Corporation holds a lien on Escondido's assets, although the Debtors note uncertainty over whether any creditor has a clear claim to all cash collateral given the structure of the entities and asset flow between them. The Debtors propose a conservative operating budget covering June 1 through July 5, a period identified as seasonally slow for sales. Projected taproom revenue assumes modest growth compared to 2025, though actual performance has varied significantly. The Debtors acknowledge that short-term borrowing may be required and plan to file a separate motion for post-petition financing. Cash collateral is generated primarily from ongoing sales of inventory and operations. The Debtor argues that without immediate access to cash collateral, the business would suffer rapid deterioration and potentially cease operations. As proposed adequate protection, the Debtors offer replacement liens on post-petition assets and continued maintenance of insurance coverage. They also request interim approval to ensure uninterrupted operations, followed by a final hearing on the use of cash collateral after notice to creditors. The Debtors contend that continued operation is necessary to preserve going-concern value and enable eventual reorganization, and that the proposed protections, including replacement liens and existing equity cushion where applicable, are sufficient under bankruptcy law. A copy of the motion is available at https://urlcurt.com/u?l=KJ0FXC from PacerMonitor.com. About Hi Sign Brewing, LLC Hi Sign Brewing, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Tex. Case No. 26-11027-cgb) on May 31, 2026. In the petition signed by Mark Phillippe, manager, the Debtor disclosed up to $50,000 in assets and up to $1 million in liabilities. Judge Christopher G. Bradley oversees the case. Stephen W Sather, Esq., at Barron & Newburger, P.C., represents the Debtor as legal counsel. HIGHTOWER HOLDING: Moody's Affirms B3 CFR on Term Loan Add-on ------------------------------------------------------------- Moody's Ratings has affirmed Hightower Holding, LLC's (Hightower) B3 corporate family rating, B2 rating on its senior secured first-lien bank credit facility rating, and Caa2 rating on its senior unsecured debt rating. Moody's also assigned a B2 rating to Hightower's senior secured first-lien delayed draw term loan. The outlook remains stable. The rating action follows Hightower's announcement of plans to raise up to $500 million of additional debt through a fungible add-on and delayed draw tranche under its existing senior secured term loan B due 2032. Proceeds are expected to fund the company's acquisition pipeline, including both external and internal transactions, as well as associated earnouts. RATIONALE The affirmation of Hightower's B3 CFR reflects the anticipated increase in financial leverage and weakening of coverage metrics following the proposed transaction, partially offset by continued scale benefits from its acquisitive growth strategy. Adjusted debt-to-EBITDA ratio, based on Moody's standard adjustments, is expected to increase by roughly 0.6x to about 7.3x for the twelve months ending March 31, 2026, remaining within the tolerance for B3-rated firms. While organic growth has trailed that of peers, favorable market conditions and ongoing acquisitions have driven client assets to about $399 billion as of Q1 2026, up from $343 billion a year earlier. This growth has supported solid revenue expansion and resulted in positive earnings for the first time in years, with approximately $63 million of pre-tax income for the last twelve months ended 31 March. The continued expansion of Hightower's centralized direct-to-consumer platform, Hightower Signature Wealth, remains a strategic priority. While this initiative introduces near-term financial pressure and execution risk, it has the potential to enhance scalability, improve margins, and strengthen the company's competitive positioning within the RIA landscape. The stable outlook reflects Moody's expectations of sustained solid operating performance, supported by a recurring revenue base and consistent execution of the company's M&A strategy. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS Hightower's ratings could be upgraded if there is a sustained improvement in the company's profitability; or meaningful debt reduction such that debt-to-EBITDA, based on Moody's standard adjustments, is sustained below 6.5x. Conversely, a deterioration in Hightower's interest coverage below 1.5x; or significant deterioration in free cash flow generation caused by a slowdown in organic growth, client attrition, underperformance of acquired firms, or persistent declines in broad financial markets could lead to a downgrade. Furthermore, if Hightower's debt-to-EBITDA ratio, based on Moody's standard adjustments, trends consistently above 8.0x, could also result in a downgrade. The principal methodology used in these ratings was Securities Industry Service Providers published in February 2024. 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. HOBBS & ASSOCIATES: Fitch Affirms 'B+' LongTerm IDR, Outlook Stable ------------------------------------------------------------------- Fitch Ratings has affirmed Hobbs & Associates, LLC's Long-Term Issuer Default Rating (IDR) at 'B+'. Fitch also affirmed Hobbs' Term Loan and Revolver at 'BB-' with a Recovery Rating of 'RR3', and assigned Air Control Concepts Parent, LLC (AIR), Hobb's holding company a 'B+' Long-Term IDR. The Rating Outlooks are Stable. Hobbs' 'B+' IDR reflects a stable business profile, supported by non-discretionary demand, diversification, strong market position and secular growth. These strengths are offset by the company's aggressive acquisition strategy, which increases execution risk and has delayed deleveraging and margin expansion. Fitch's concerns around high leverage are mitigated by strong cash flow generation, the expected full-year contribution from acquired businesses and potential margin improvement over time through revenue mix optimization. Fitch has withdrawn the rating on the Delayed Draw Term Loan, as it was fungible and merged into the Term Loan. Key Rating Drivers Deleveraging Delayed, Aggressive Acquisition Strategy: Fitch forecasts EBITDA leverage to remain above the 4.5x negative rating sensitivity through 2026, driven by a more aggressive pace of debt-funded acquisitions than previously expected. Despite the higher debt burden, Fitch views the company's emerging track record of solid organic growth and improving business profile positively. This is supported by greater diversification, expansion opportunities in parts and services and solid competitive positioning. Financial risk is mitigated by solid cash flow generation and deleveraging capacity, as reflected in healthy (CFO-capex)/debt of around 10%. However, aggressive capital allocation could keep leverage above Fitch's expectations for a prolonged period and lead to a negative rating action Secular Trends Support Growth: Fitch expects the company's demand momentum to continue over the medium term, supported by secular trends, including rising demand from data centers and growing national accounts, complemented by acquisitions. Demand is further underpinned by growth in the installed base, aging infrastructure, and energy efficiency standards. The company's backlog as of 1Q26 is at a record high of $2.4 billion. Fitch expects data center revenue to account for more than 10% of revenue going forward, up from the mid-single digit. Fitch also expects organic growth in the company's legacy end markets, such as education and healthcare remain strong in the high-single-digit range in the medium term. Recurring Demand Moderates Cyclicality: Hobbs' significant exposure to repairs, parts and services across the heating, ventilation and air conditioning (HVAC) system lifecycle helps moderate cyclicality. Replacement and renovation (R&R) activity, along with aftermarket service and parts revenue, tends to be more stable than original equipment demands due to their largely non-discretionary nature and more predictable replacement cycles. Fitch believes the company's expanding service and aftermarket presence facilitates deeper customer relationships and strengthens long-term replacement opportunities and benefits margin over time. Growing Scale in Fragmented Industry: Hobbs is well positioned across its geographic footprint of 35+ states, providing a broad product line with established commercial relationships with 500+ HVAC manufacturers that serve over 10,000 contractors/engineers and end-user customers across a range of end markets. Access to multiple brands with regional exclusivity, together with over 400 technical sales reps provide a competitive advantage, which will further improve through acquisitions. Diversified End-market, Customer and Vendors: Demand from public sector customers support revenue visibility due to relatively stable and consistent spending by government, education and healthcare institutions. More than 60% of Hobbs customers are public sector entities. Although reputational risk could weaken relationships with major OEMs negatively affect the company's business profile, Fitch believes this risk is mitigated by management's track record. Peer Analysis Hobbs' business profile is in line with or better than 'B+' rating characteristics given its solid market position in a highly fragmented market, favorable R&R-weighted revenue base, and cash generation with FCF margins in the low-to-mid single digits. The ratings are mainly driven by the company's active, debt-funded acquisition strategy and financial policy leading to higher leverage consistent with 'B+' rating tolerances. Hobbs' credit risk is comparable to that of WEC US Holdings Ltd (B+/Stable, dba Westinghouse Electric Company [WEC]). The recurring nature of WEC's multi-year contracted business, regulatory requirements, and long and costly switching costs, in addition to its scale and OEM status, support its profitability relative to Hobbs. While Hobbs lacks the stability provided by multi-year contracts, the company benefits from its technical knowledge, vendor and customer relationships, R&R-orientation, and limited working capital and capex needs that drive stronger FCF margins. Fitch’s Key Rating-Case Assumptions - Double-digit revenue growths driven by sizable acquisitions and a low-single digit organic growth; - EBITDA margins to gradually improve to above 10% in the medium-term through operational leverage tempered by margin dilutive acquisitions; - Capex at 0.5% of annual revenue; - FCF margin remains healthy in the low-single digits; - Debt-funded acquisitions of around $400 million per annum (net of equity rollover) at 7x multiple with transaction closing at end-June each year, contributing 50% of proforma earnings; - Any dividends paid to the parent are solely to fund tax liabilities attributable to Hobbs and its subsidiaries' income. - New borrowing at SOFR + 375 bps - No material change in the company's capital allocation policy. KEY RECOVERY RATING ASSUMPTIONS - The recovery analysis assumes that Hobbs would be reorganized as a going-concern (GC) in bankruptcy rather than liquidated; - Fitch has assumed a 10% administrative claim. GC Approach The GC EBITDA estimate reflects Fitch's view of a sustainable, post-reorganization EBITDA level on which Fitch bases the enterprise valuation. The $219 million GC EBITDA assumes degraded relationships with OEMs as a result of reputational impairment. Fitch assumes revenue falls by 30%, as Fitch believes the company would be able to replace a portion of the lost revenue through OEM substitution. Margins remain stable at around 9%, given Hobbs' variable cost structure. An enterprise valuation multiple of 5.0x EBITDA is applied to GC EBITDA to calculate a post-reorganization enterprise value. The multiple reflects the company's asset-light business model, the meaningful value derived from its OEM relationships, and valuation multiples for comparable companies. The credit facilities are assumed to be fully drawn. The secured credit facility and term loan are pari passu and receive equal priority in the recovery waterfall. The recovery rating analysis results in a 'BB-'/'RR3' recovery for the secured debt. Corporate Rating Tool Inputs and Scores Fitch scored the issuer as follows, using its Corporate Rating Tool (CRT) to produce the Standalone Credit Profile (SCP): Business and financial profile factors (assessment, relative importance): management ('bb+', Moderate), sector characteristics ('bbb', Lower), market and competitive positioning ('bb', Higher), diversification and asset quality ('bb', Moderate), company operational characteristics ('bb+', Moderate), profitability ('bb-', Lower), financial structure ('b', Higher), and financial flexibility ('bb-', Moderate). The quantitative financial subfactors are based on standard CRT financial period parameters: 20% weight for the latest historical year 2025, 40% for the forecast year 2026 and 40% for the forecast year 2027. B+ to CC considerations apply in its analysis and has no impact. The governance assessment of 'good' has no impact. The operating environment assessment of 'aa-' has no impact. The SCP is 'b+'. To derive the Long-Term IDR: Fitch has made no adjustments to the SCP, resulting in an IDR of 'B+'. Application of Fitch's Parent Subsidiary Linkage Rating Criteria results in a(n) consolidated approach. RATING SENSITIVITIES Factors that Could, Individually or Collectively, Lead to Negative Rating Action/Downgrade - EBITDA leverage maintained above 4.5x or EBITDA interest coverage sustained below 2.5x; - Weaker operational and cash flow profiles due to heightened execution risk in the company's expansion strategy and/or a more shareholder friendly capital allocation policy; - Reduced financial flexibility, including less than 75% credit facility availability or low single-digit CFO-Capex/Debt. Factors that Could, Individually or Collectively, Lead to Positive Rating Action/Upgrade - Financial policies that lead to improved EBITDA leverage below 4.0x, and EBITDA interest coverage above 3.0x on a sustained period; - Improved financial flexibility with (CFO-capex)/Debt sustained in the high-single digits; - Continued execution of strategic initiatives that improve cash flow risk, including increased size, scale and diversification. Liquidity and Debt Structure As of March 31, 2026, the company had $361 million in cash on its balance sheet and full availability on its $175 million revolver. Hobbs' capital structure consists of a $1,420 million term loan. Additionally, there is a $175 million revolver maturing in July 2029 and is pari passu with the term loan. Term loan matures in July 2031. Issuer Profile Hobbs is an HVAC independent rep, who provides value-added services/solutions for the full lifecycle of commercial HVAC systems, ranging from system design to equipment selection & procurement, ongoing maintenance & repair, aftermarket parts supply, and eventually equipment replacement. MACROECONOMIC ASSUMPTIONS AND SECTOR FORECASTS Fitch's latest quarterly Global Corporates Sector Forecasts Monitor data file which aggregates key data points used in its credit analysis. Fitch's macroeconomic forecasts, commodity price assumptions, default rate forecasts, sector key performance indicators and sector-level forecasts are among the data items included. ESG Considerations The highest level of ESG credit relevance is a score of '3', unless otherwise disclosed in this section. A score of '3' means ESG issues are credit-neutral or have only a minimal credit impact on the entity, either due to their nature or the way in which they are being managed by the entity. Fitch's ESG Relevance Scores are not inputs in the rating process; they are an observation on the relevance and materiality of ESG factors in the rating decision. Entity/Debt Rating Recovery Prior ----------- ------ -------- ----- Air Control Concepts Parent, LLC LT IDR B+ New Rating Hobbs & Associates, LLC LT IDR B+ Affirmed B+ senior secured LT BB- Affirmed RR3 BB- senior secured LT WD Withdrawn BB- HOUSE4U MNGMNT: Taps Law Offices of Charles Wertman as Counsel -------------------------------------------------------------- House4u Mngmnt Services Inc. seeks approval from the U.S. Bankruptcy Court for the Southern District of New York to hire Law Offices of Charles Wertman P.C. to serve as counsel. The firm will provide these services: (a) give the Debtor and Debtor-in-Possession legal advice with respect to its powers and duties in accordance with the Bankruptcy Code; (b) prepare on behalf of the Debtor and Debtor-in-Possession all necessary schedules, applications, motions, answers, orders, reports, adversary proceedings, and other legal documents required in the Chapter 11 case; (c) assist in the development and implementation of a plan of reorganization or liquidation, including the proposed sale of the Property; and (d) perform all other legal services necessary in connection with the Chapter 11 case and the Debtor's reorganization efforts under the Bankruptcy Code. The firm's compensation includes a pre-petition retainer of $9,238 (inclusive of a $1,738.00 filing fee), with hourly rates of $525 for attorneys and $150 for paraprofessionals. Law Offices of Charles Wertman P.C. is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code, according to court filings. The firm can be reached at: Charles Wertman, Esq. LAW OFFICES OF CHARLES WERTMAN P.C. 100 Merrick Road, Suite 304W Rockville Centre, NY 11570 Telephone: (516) 284-0900 E-mail: charles@cwertmanlaw.com About HOUSE4U MNGMNT SERVICES INC. House4u Mngmnt Services Inc. sought protection under Chapter 11 of the Bankruptcy Code (Bankr. S.D.N.Y. Case No. 26-10977) on April 29, 2026. At the time of the filing, the Debtor had estimated assets of between $500,001 to $1 million and liabilities of between $500,001 to $1 million. Judge Lisa G. Beckerman oversees the case. Law Offices of Charles Wertman P.C. is Debtor's legal counsel. HPC MOTORSPORTS: Hearing Today on Bid to Use Cash Collateral ------------------------------------------------------------ The U.S. Bankruptcy Court for the Southern District of Texas, Houston Division, is set to hold a final hearing today on HPC Motorsports, LLC's bid to use cash collateral. The Debtor's authority to use cash collateral under the court's June 3 interim order expires today. The interim order authorized the Debtor to use cash collateral, including revenues generated in the ordinary course of business, based on an approved 30-day operating budget, which shows total operational expenses of $189,963.00. The interim order granted secured creditors replacement liens on all post-petition property including cash collateral, with the same extent and priority as their pre-petition liens. The secured creditors with UCC-1 filings covering substantially all assets of the Debtor include Frost Bank, the U.S. Small Business Administration, and several unidentified creditors. About HPC Motorsports LLC HPC Motorsports, LLC is an automotive performance repair and modification business based in Spring, Texas. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 26-33781) on May 29, 2026. In the petition signed by Elie Bejjani, managing member, the Debtor disclosed up to $500,000 in both assets and liabilities. Judge Eduardo V. Rodriguez oversees the case. Robert C Lane, Esq., at the Lane Law Firm, represents the Debtor as legal counsel. HRONIS INC: Conterra Wins Bid to Bifurcate, Advance Sale Hearing ---------------------------------------------------------------- In the chapter 11 case of Hronis Inc., the Hon. Rene Lastreto II of the U.S. Bankruptcy Court for the Eastern District of California granted the motion of Conterra Agricultural Capital, LLC to bifurcate and advance hearing on the Debtors' sale motion with respect to credit bidding rights pursuant to 11 U.S.C. Secs. 105(a) and 363(k) and 28 U.S.C. Secs. 157 (b)(2)(A), (K), and (O), Fed. R. Bankr. P. 9014(c) and 7042, and Fed R. Civ. P. 42(b). The hearing on the sale motion is bifurcated and advanced in part for an evidentiary hearing on June 18, 2026 at 9:30 a.m. (PT) in Courtroom 13, 2500 Tulare Street, Fresno, CA 93721, solely with respect to Conterra's right to credit bid under section 363(k) and the challenge of the Official Committee of Unsecured Creditors that Conterra's credit bid must be denied or limited under section 363(k) as set forth in the Committee's filed opposition to the sale motion. A copy of the Court's Order dated June 8, 2026, is available at https://urlcurt.com/u?l=5YKpOq from PacerMonitor.com. Attorneys for Creditor Conterra Agricultural Capital, LLC: Bernie Kornberg, Esq. Andrew Morton. Esq, Brianna Morrison, Esq. MILLER NASH LLP 340 Golden Shore, Suite 450 Long Beach, CA 90802 Telephone: (562) 435-8002 E-mail: andy.morton@millernash.com brianna.morrison@millernash.com - and - Marc Hirschfield, Esq. Marc F. Skapof, Esq. ROYER COOPER COHEN BRAUNFELD LLC 1120 Avenue of the Americas, 4th Floor New York, NY 10036 Telephone: (212) 994-0451 E-mail: mhirschfield@rccblaw.com mskapof@rccblaw.com About Hronis Inc. Hronis, Inc. is an agricultural company based in Delano, Calif., that grows, harvests and markets table grapes in California's San Joaquin Valley, with operations dating to 1945. The business cultivates grapes on about 6,000 acres of owned and leased land in Kern and Tulare counties and produces more than 80 million pounds of table grapes annually, supplying major retailers, supermarket chains and other commercial customers through a vertically integrated operation that includes hand harvesting, packing, cold storage and distribution. The company also grows citrus and has begun planting pistachios, which are in early-stage development. Hronis and its affiliates sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Cal. Lead Case 26-10978) on March 6, 2026, with between $50 million and $100 million in both assets and liabilities. Judge Rene Lastreto II oversees the cases. The Debtors tapped Zev M. Schectman, Esq., and Steven F. Werth, Esq., Mariam Khoudari, Esq., at Saul Ewing, LLP as bankruptcy counsel and Donlin, Recano and Co. as claims and noticing agent. IKPM PET: Seeks to Hire The Fealy Law Firm PC as Attorney --------------------------------------------------------- IKPM Pet Supply LLC seeks approval from the U.S. Bankruptcy Court for the Southern District of Texas to employ The Fealy Law Firm, PC as attorney. The firm will provide these services: a. analysis of the financial situation, and rendering advice and assistance to the Debtor; b. advising the Debtor with respect to its duties as Debtor; c. preparation and filing of all appropriate petitions, schedules of assets and liabilities, statements of affairs, answers, motions and other legal papers; d. representation of the Debtor at the first meeting of creditors and such other services as may be required during the course of the bankruptcy proceedings; e. representing the Debtor in all proceedings before the Court and in any other judicial or administrative proceeding where the rights of the Debtor may be litigated or otherwise affected; f. preparation and filing of Chapter 11 Plan of Reorganization; and g. assistance to the Debtor in any matter relating to or arising out of the captioned case. The firm will be paid at these rates: Vicky M. Fealy $475 per hour Associate Attorneys $275 per hour Paralegals $115 per hour Law Clerks $125 per hour On May 21, 2026, the firm received a retainer in the amount of $16,738.00, the firm applied $1,738 for filing fees. In addition, the firm will seek reimbursement for its out-of-pocket expenses. Ms. Fealy disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Vicky M. Fealy The Fealy Law Firm, P.C. 1235 North Loop West, Suite 1120 Houston, TX 77008 Tel: (713) 526-5220 Fax: (713) 526-5227 About IKPM Pet Supply LLC IKPM Pet Supply LLC operates a Pet Supplies Plus-branded pet retail store in Sugar Land, Texas. The store sells pet food and supplies and offers pet-related services, including grooming and self-serve pet wash services. IKPM Pet Supply LLC sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-33610) on May 22, 2026. In its petition, the Debtor reports estimated assets between $100,001 and $1 million and estimated liabilities between $1 million and $10 million. Honorable Bankruptcy Judge Eduardo V. Rodriguez handles the case. The Debtor is represented by Vicky M. Fealy, Esq. of Fealy Law Firm, PC. Melissa A. Haselden serves as Subchapter V Trustee. INFINITY CARE: No Resident Care Concern, 1st PCO Report Says ------------------------------------------------------------ Fay Gordon, the patient care ombudsman, filed with the U.S. Bankruptcy Court for the Central District of California her first report regarding the quality of patient care provided at Infinity Care of East of L.A.'s skilled nursing facility. The report covers the period from March 23 to May 23. The Long-Term Care Ombudsman Program conducted in-person monitoring visits on April 22 and May 7, meeting with various staff including the Administrator/VP of Operations, Director of Nursing, Director of Staff Development, Kitchen Supervisor, Central Supply Manager, Social Services staff, and Accounts Payable Manager. The ombudsman observed residents socializing, engaging in activities, and personalizing their rooms. Residents reported feeling safe, comfortable, and satisfied with their care and living environment. Staff interactions were respectful, timely, and person-centered, and no concerns were noted regarding care quality or responsiveness. Ms. Gordon reported that food service operations were orderly and sufficient. The kitchen and pantry had appropriate supplies of fresh, frozen, and shelf-stable items, and the facility maintained adequate stocks of linens, hygiene items, medical supplies, PPE, and cleaning products, with weekly deliveries and no reported shortages. The ombudsman noted that staff were cooperative during the visits and provided requested information, and that ombudsman contact information was posted in all resident rooms. Based on the visits and ongoing communication with facility leadership, the ombudsman concluded that the financial restructuring has not affected daily operations or the staff's ability to provide appropriate care. Residents reported no concerns regarding the bankruptcy, and observations indicated stable staffing, maintained facilities, and consistent service quality. A copy of the ombudsman report is available for free at https://urlcurt.com/u?l=8DycJn from PacerMonitor.com. About Infinity Care of East L.A. Infinity Care of East L.A. operates as a skilled nursing facility in Los Angeles, California, providing 24-hour nursing care, long-term residential services, and rehabilitation therapy. The facility is certified to participate in Medicare and Medicaid programs and serves patients requiring post-acute and extended care. Infinity Care of East of L.A. in Los Angeles, CA, sought relief under Chapter 11 of the Bankruptcy Code filed its voluntary petition for Chapter 11 protection (Bankr. C.D. Calif. Case No. 26-11877) on Feb. 27, 2026, listing as much as $1 million to $10 million in both assets and liabilities. David M. Goodrich, chief restructuring officer, signed the petition. Judge Barry Russell oversees the case. The Debtor tapped Aaron de Leest, Esq., at Marshack Hays Wood, LLP as general bankruptcy counsel; ArentFox Schiff, LLP and TALG, Ltd. as special counsel; and Golden Goodrich, LLP as restructuring advisor. The U.S. Trustee for Region 16 appointed Fay Gordon as patient care ombudsman for the Debtor. INGENOVIS HEALTH: Moody's Ups CFR to 'Caa2', Outlook Stable ----------------------------------------------------------- Moody's Ratings upgraded Ingenovis Health, Inc.'s (Ingenovis) Corporate Family Rating to Caa2 from Ca and Probability of Default Rating to Caa2-PD from Ca-PD. At the same time, Moody's assigned a Caa2 rating to the new senior secured first lien first-out term loan. The outlook is stable. The ratings upgrade reflects Moody's views that Ingenovis' balance sheet has improved following the exchange transaction, with moderate net leverage, given the company's $100 million cash infusion from the sponsor. While the transaction is positive to the credit profile, Moody's considers it to be a distressed exchange, as lenders have received less than par on the repayment of the prior term loan facilities. Previously this year, the company completed a series of extensions on its revolving credit facility, which was repaid on equivalent terms to the prior term loan facilities as part of this transaction. The rating upgrade also reflects Moody's expectations that leverage will remain elevated as revenue continues to face headwinds due to the structural shift, industry-wide decline in the nurse staffing industry following the elevated demand levels of the COVID-19 pandemic resulting in reduced contract labor spend by healthcare providers. As a result, margins remain thin, leaving earnings sensitive to labor availability and wage inflation. Additionally, execution risks following the restructuring including the company's ability to grow revenue and achieve projected EBITDA improvements is crucial for maintaining rating stability. Moody's estimates that the company's debt-to-EBITDA as of LTM September 30, 2025 was around 14.3x. Moody's expects leverage to decline to around 11x for FYE 2026 which includes earnings from nurse strikes in the fourth quarter of 2025 and the first quarter of 2026. The stable outlook reflects Moody's views that Ingenovis' operating performance and profitability will remain constrained and execution risks are balanced against the lower debt and interest expense following the restructuring transaction. RATINGS RATIONALE Ingenovis' Caa2 CFR is constrained by moderate net leverage, given the company's $100 million cash infusion from the sponsor. Further, execution risks following the restructuring including the company's ability to grow revenue and achieve projected EBITDA improvements is crucial for maintaining rating stability. Moody's expects gross leverage to remain over 10x for the next 12-18 months. Moody's anticipates that leverage will remain elevated as operating expenses will continue to pressure profitability and liquidity in the near term. The rating is also constrained by the cyclical nature of demand for travel nurses and labor pressure including a shortage in nurse staffing. The company benefits from good customer and geographic diversification and solid industry trends including nursing shortages and an aging population requiring more frequent medical attention. Moody's expects Ingenovis to maintain adequate liquidity. Pro forma for the transaction, the company had approximately $98 million of cash, and access to $85 million A/R securitization facility, which had $43 million outstanding (the terms of the facility require it to be 50% drawn at minimum at all times). The company does not have a committed senior secured revolving credit facility. Moody's also expects the company will have negative free cash flow in 2026. Ingenovis' senior secured first-out term loan is rated Caa2, in line with the CFR. The Caa2 rating considers that the facilities constitute a preponderance of debt in the capital structure. The first-lien term loan is secured by substantially all assets of the borrower and its guarantors, with the existing A/R securitization facility remaining in place. The credit agreement is "covenant-lite" (with no ongoing financial maintenance covenants) and includes incurrence-based incremental debt and permitted acquisition provisions. The documentation also includes customary guarantor and collateral packages, with no call protection or portability provisions. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS The ratings could be upgraded if the company improves its operating performance and profitability including margin stabilization. Improvement in liquidity including positive free cashflow and less reliance on external sources could support an upgrade. The ratings could be downgraded if the company experiences further operating or cash flow disruption. Further rising likelihood of default would also lead to a rating downgrade. Ingenovis Health is an Ohio-based services company with a leading portfolio of healthcare staffing brands providing nursing, allied and physician workforce solutions comprised of traditional and fast response travel nursing & allied staffing; cardiology specialty nurse & allied staffing; acute & alternative setting staffing; locum tenens staffing; practice-based solutions; and labor disruption staffing & services across the US. Ingenovis is majority owned by Cornell Capital and Trilantic North America (the Investor Group). As of LTM September 30, 2025, Ingenovis generated around $960 million of revenue. 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. INGLES PRODUCE: Court Extends Cash Collateral Access to July 9 -------------------------------------------------------------- The U.S. Bankruptcy Court for the Southern District of Florida, Fort Lauderdale Division, entered a fifth interim order granting Ingles Produce, Inc. approval to use cash collateral through July 9. Under the fifth interim order, the Debtor is authorized to use cash that may be encumbered by a lien held by lenders Credibly of Arizona, LLC, Vox Funding and the U.S. Small Business Administration. As adequate protection, the lenders will be granted a post-petition lien on cash collateral, limited to the same extent and priority as their respective valid pre-petition liens. These liens are deemed automatically perfected without further documentation. Additionally, the Debtor must make monthly payments of $2,500 to the Subchapter V trustee, which will be held in trust and used for administrative expenses if necessary. Creditors' rights are fully preserved, and they may seek further relief. Overall, the order ensures short-term operational continuity while protecting creditor interests until the final hearing. The interim order is available at https://shorturl.at/cyadX from PacerMonitor.com. The next hearing is scheduled for July 9. Ingles Produce's books and records indicate that Credibly of Arizona, a merchant cash advance lender, and the SBA hold a blanket lien for which a UCC-1 was filed against the Debtor's assets. The UCC-1 covers all assets of the Debtor including cash. As of the petition date, the Debtor owed Credibly of Arizona and the SBA $30,000 and $150,000, respectively. Meanwhile, Vox Funding, another merchant cash advance lender, holds a lien covering the Debtor's future receipts and is owed approximately $110,000 as of the petition date. About Ingles Produce Inc. Ingles Produce, Inc. filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. S.D. Fla. Case No. 25-25031) on December 19, 2025, listing between $500,001 and $1 million in assets and between $1 million and $10 million in liabilities. Tarek Kiem, Esq., at Kiem Law, PLLC serves as Subchapter V trustee for the Debtor. Tarek Kiem, Esq., at Kiem Law, PLLC serves as Subchapter V trustee. The Debtor tapped Aaron A. Wernick, Esq., at Wernick Law, PLLC as bankruptcy counsel and H&H Accounting & Tax Service LLP as accountant. INSPIRED HEALTHCARE: PCO Reports No Decline in Patient Care Quality ------------------------------------------------------------------- Mairead Painter, the patient care ombudsman, filed with the U.S. Bankruptcy Court for the Northern District of Texas her first report regarding the quality of patient care provided at Inspired Healthcare Capital Holdings, LLC and affiliates' Connecticut senior living facility. On April 8, the PCO conducted a facility visit at Landing Inspired Living of North Haven LLC, with a census of 85 residents, and interviewed residents, family members, care team members, and administration. Most residents reported satisfaction with care and services, staff response times, activities, and dining services. The PCO identified no immediate widespread deficiencies in resident care during the visit. Care delivery appeared generally stable and organized, and most residents interviewed expressed satisfaction with services provided. Ms. Painter stated she was not aware of any significant decline in the quality of patient care or any material compromise in care at Landing Inspired Living of North Haven LLC during the reporting period. A copy of the ombudsman report is available at https://urlcurt.com/u?l=VY2XOo from Epiq Corporate Restructuring, LLC, claims agent. The ombudsman may be reached at: Ms. Mairead Painter State LTC Ombudsman Office of the Long-Term Care Ombudsman (ADS) Department of Aging and Disability Services 55 Farmington Ave Hartford, CT 06105 Phone: (860) 424-5239 Fax: 860-772-1704 Email: Mairead.painter@ct.gov About Inspired Healthcare Capital Holdings 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. The Debtors hired DLA Piper LLP (US) as conflicts counsel and Reid Collins & Tsai LLP as special litigation counsel. BDO USA, P.C. serves as tax accountant. The official committee of unsecured creditors appointed hired Berkeley Research Group, LLC as financial advisor; Greenberg Traurig, LLP as attorney; and Vartabedian Katz Hester & Haynes LLP as its conflicts counsel. Ferguson Braswell Fraser Kubasta PC represents the Ad Hoc Committee of DST Investors. Jones Walker, LLP represents the Ad Hoc Group of Lenders in Inspired Healthcare Capital Income Fund 5. Holland & Knight, LLP represents the Ad Hoc Group of Unencumbered DST Investors. The U.S. Trustee for Region 6 appointed Mairead Painter as patient care ombudsman at Connecticut senior living facility; Timothy Hunter as patient care ombudsman at Minnesota senior living facility; Terri Cantrell as patient care ombudsman at Florida senior living facilities; Salli Pung as patient care ombudsman at the Michigan senior living facilities; Amanda Celentano as patient care ombudsman at Maryland senior living facility; Kelly Richards as patient care ombudsman at Illinois senior living facilities; Marie Coe as patient care ombudsman at Nevada senior living facilities; and Melanie McNeil as patient care ombudsman at Georgia senior living facilities. Susan Goodman of Pivot Health Law, LLC and Laurie Facciarossa Brewer were also named as patient care ombudsman. INSPIRED HEALTHCARE: PCO Reports No Resident Care Complaints ------------------------------------------------------------ Terri Cantrell, the patient care ombudsman, filed with the U.S. Bankruptcy Court for the Northern District of Texas her first report regarding the quality of patient care provided at Inspired Healthcare Capital Holdings, LLC and affiliates' Florida senior living facilities. In her report which covers the period from April 6 to June 5, the PCO has established monitoring plans for each of the six Florida facilities pursuant to which designated District or Regional Ombudsmen ("Representatives") conduct site visits, interview residents and staff, and provide monitoring information. The PCO's Representatives found that the six Florida facilities are, in general, operating with stability with respect to the delivery of basic resident care and services during the Report Period. Across all six facilities, the following consistent findings were noted: * The Resident Bill of Rights, activity calendars, and menus were posted in visible and appropriate locations at all facilities visited. * Medications were being administered to residents on a consistent basis with no systemic medication access issues identified at any facility. * Staffing levels were reported to be generally stable, with no widespread walk-offs or significant reductions in force attributable to the bankruptcy proceedings. * No facility was using agency or contract staff. * Essential service contracts for food delivery, pharmacy services, and laundry were being maintained without reported interruption at most facilities. * No formal resident complaints were filed at any of the six Florida Facilities during the Report Period. * Multiple facilities received tours from prospective buyers during the Report Period, consistent with the pending sale process under the Bid Procedures Order. The PCO finds that the six Florida facilities are generally maintaining adequate standards of resident care and services notwithstanding the pending Chapter 11 proceedings based upon the site visits conducted during the Report Period. No formal resident complaints were received at any facility, and no condition was identified that constitutes an immediate threat to patient health, safety, or welfare. A copy of the ombudsman report is available at https://urlcurt.com/u?l=iic7o5 from Epiq Corporate Restructuring, LLC, claims agent. The ombudsman may be reached at: Terri Cantrell Long-Term Care Ombudsman Program Florida Department of Elder Affairs 4040 Esplanade Way Tallahassee, Florida 32399 (850) 414-2331 Email: cantrellt@elderaffairs.org About Inspired Healthcare Capital Holdings 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. The Debtors hired DLA Piper LLP (US) as conflicts counsel and Reid Collins & Tsai LLP as special litigation counsel. BDO USA, P.C. serves as tax accountant. The official committee of unsecured creditors appointed hired Berkeley Research Group, LLC as financial advisor; Greenberg Traurig, LLP as attorney; and Vartabedian Katz Hester & Haynes LLP as its conflicts counsel. Ferguson Braswell Fraser Kubasta PC represents the Ad Hoc Committee of DST Investors. Jones Walker, LLP represents the Ad Hoc Group of Lenders in Inspired Healthcare Capital Income Fund 5. Holland & Knight, LLP represents the Ad Hoc Group of Unencumbered DST Investors. The U.S. Trustee for Region 6 appointed Mairead Painter as patient care ombudsman at Connecticut senior living facility; Timothy Hunter as patient care ombudsman at Minnesota senior living facility; Terri Cantrell as patient care ombudsman at Florida senior living facilities; Salli Pung as patient care ombudsman at the Michigan senior living facilities; Amanda Celentano as patient care ombudsman at Maryland senior living facility; Kelly Richards as patient care ombudsman at Illinois senior living facilities; Marie Coe as patient care ombudsman at Nevada senior living facilities; and Melanie McNeil as patient care ombudsman at Georgia senior living facilities. Susan Goodman of Pivot Health Law, LLC and Laurie Facciarossa Brewer were also named as patient care ombudsman. INSPIRED HEALTHCARE: U.S. Trustee Appoints Nancy Pitra as PCO ------------------------------------------------------------- Lisa Lambert, the U.S. Trustee for Region 6, appointed Nancy Pitra as substitute patient care ombudsman for the Georgia senior living facilities operated by Inspired Healthcare Capital Holdings, LLC and affiliates. On March 26, Melanie McNeil was appointed as PCO under Section 333 of the Bankruptcy Code for the facilities in Georgia. Ms. McNeil has retired from her position as the Georgia Long-Term Care Ombudsman and is no longer serving as the PCO in these cases. To the best of the U.S. Trustee's knowledge and based on the verified statement she has provided, Ms. Pitra has no connections with Inspired Healthcare, creditors and other parties-in-interest in the bankruptcy case. The ombudsman may be reached at: Nancy Pitra Office of the State Long-Term Care Ombudsman State Long-Term Care Ombudsman Georgia Department of Human Services 47 Trinity Avenue SW, Room 1136 Atlanta GA 30334 About Inspired Healthcare Capital Holdings 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. The Debtors hired DLA Piper LLP (US) as conflicts counsel and Reid Collins & Tsai LLP as special litigation counsel. BDO USA, P.C. serves as tax accountant. The official committee of unsecured creditors appointed hired Berkeley Research Group, LLC as financial advisor; Greenberg Traurig, LLP as attorney; and Vartabedian Katz Hester & Haynes LLP as its conflicts counsel. Ferguson Braswell Fraser Kubasta PC represents the Ad Hoc Committee of DST Investors. Jones Walker, LLP represents the Ad Hoc Group of Lenders in Inspired Healthcare Capital Income Fund 5. Holland & Knight, LLP represents the Ad Hoc Group of Unencumbered DST Investors. The U.S. Trustee for Region 6 appointed Mairead Painter as patient care ombudsman at Connecticut senior living facility; Timothy Hunter as patient care ombudsman at Minnesota senior living facility; Terri Cantrell as patient care ombudsman at Florida senior living facilities; Salli Pung as patient care ombudsman at the Michigan senior living facilities; Amanda Celentano as patient care ombudsman at Maryland senior living facility; Kelly Richards as patient care ombudsman at Illinois senior living facilities; Marie Coe as patient care ombudsman at Nevada senior living facilities; and Melanie McNeil as patient care ombudsman at Georgia senior living facilities. Susan Goodman of Pivot Health Law, LLC and Laurie Facciarossa Brewer were also named as patient care ombudsman. INSULET CORPORATION: Moody's Alters Outlook on Ba2 CFR to Negative ------------------------------------------------------------------ Moody's Ratings revised Insulet Corporation's ("Insulet") outlook to negative from stable. At the same time, Moody's affirmed Insulet's corporate family rating at Ba2 and Probability of Default Rating at Ba2-PD. Moody's also affirmed the Ba1 ratings on Insulet's senior secured term loan and senior secured revolving credit facility, and the B1 rating on the senior unsecured notes. There is no change to the Speculative Grade Liquidity Rating of SGL-1. The revision of the outlook to negative reflects an increased level of risk and potential impact on Insulet's credit profile as a result of the second product recall in May 2026 that comes after a recall in March of the same year. While the estimated cost of these recalls at approximately $80 million is manageable, these events increase operating risk and raise concerns about the containment of product quality issues. These risks are also elevated as Insulet is focused on a single product-line which makes it highly exposed to reputational damage and patient attrition in addition to cash outflows tied to remediation efforts. RATINGS RATIONALE Insulet's Ba2 rating is supported by its strong competitive position in the fast-growing insulin management business due to the success of the Omnipod wearable delivery system. Omnipod represents a compelling choice for many patients with diabetes due to the avoidance of multiple daily injections. Omnipod 5 represents a technological advancement due to its integration with continuous glucose monitor (CGM) systems, addition of automated insulin delivery capabilities, and cloud connectivity. Moody's believes continued roll out into new countries and an expanded target market, including type 2 diabetes patients, will continue to fuel rapid revenue growth. Additionally, the rating reflects Insulet's strong credit metrics including debt to EBITDA of approximately 1.5x as of March 31, 2026 and very good liquidity which provides the company with significant financial flexibility. These strengths are tempered by the company's single product-line focus, which exposes Insulet to competitive risks and more general business execution risks, including those related to the recent product recalls. Continued success over the long term will depend on diabetes market dynamics, including competitive products and technologies, patient volumes and preferences, as well as the company's ability to manage recall remediation and broader market risks. The negative outlook reflects the potential for a downgrade if issues tied to the recalls are not contained or if the recalls result in broader operational disruption. Moody's expects Insulet to maintain very good liquidity (SGL-1) supported by cash and short-term investments of $480 million as of March 31, 2026 and Moody's expectations for strong free cash flows. This is more than sufficient to cover anticipated cash uses including capital expenditures, working capital needs, and share repurchases under the authorization that was increased in February 2026. Insulet's liquidity is supplemented by an undrawn $500 million revolving credit facility that expires in 2030, which has a springing leverage covenant set at 6.5x if utilization exceeds 35%. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS Factors that could lead to an upgrade include improved scale and reduction in reliance on a single product category, continued strong earnings growth while maintaining very good liquidity, and overall conservative financial policy. Quantitatively, the ratings could be upgraded if the company establishes a track record of sustaining debt to EBITDA below 1.5x, though improved scale, product diversification and qualitative factors are likely to be more determinative of an upgrade. Factors that could lead to a downgrade include failure to contain issues related to the recent recalls or broader operational disruption, as well as erosion in competitive position due to significant innovation advances by competitors, unforeseen manufacturing or supply chain disruptions, or weakened liquidity. Quantitatively, the ratings could be downgraded if debt to EBITDA is sustained above 2.5x. Headquartered in Acton, Massachusetts, Insulet Corporation is a leading provider of wearable insulin management systems. Insulet generated $2.9 billion of revenue for the twelve months ending March 31, 2026. The principal methodology used in these ratings was Medical Products and Devices published in October 2025. The CFR is three notches lower than the scorecard indicated outcome for the twelve months ending March 31, 2026, reflecting risks tied to the company's high reliance on a single product. INTERNATIONAL LAND: Issues $385,000 Convertible Note and Warrant ---------------------------------------------------------------- International Land Alliance, Inc. announced in a regulatory filing that it entered into a Securities Purchase Agreement transaction with an accredited investor pursuant to which the Company issued to Investor a convertible promissory note in the aggregate principal amount up to $385,000 and a warrant to purchase 48,125 shares of Company common stock. The Note: (1) has an original discount of $35,000, (2) accrues annual interest at 10%, (3) has a maturity date 12 months from issuance, and (4) is convertible at any time by Investor into shares of Company common stock at a conversion price equal to the lesser of (a) $6.00 per share, or (b) 65% of the lowest traded price during 20 trading days immediately preceding the respective conversion date, subject to adjustment. The Warrant is initially exercisable at an exercise price equal to $10.00 per share (subject to adjustments), with a term of 5 years from issuance, and a cashless exercise option. The shares issuable pursuant to the Note and Warrant carry registration rights. About International Land International Land Alliance Inc. is a Wyoming corporation incorporated in 2013 and based in San Diego. The company is a residential land development company with target properties in northern Baja California, Mexico, and Southern California. Its activities include acquiring properties, obtaining zoning and other entitlements, improving infrastructure and amenities, and selling plots to homebuyers, retirees, investors and commercial developers. In an audit report dated April 27, 2026, the company's auditor Bush & Associates CPA LLC included a going concern paragraph, stating that International Land suffered recurring losses and negative cash flows from operations in recent years and depended on debt and equity financing to fund operations. The auditor said those conditions raised substantial doubt about the company's ability to continue as a going concern. As of March 31, 2026, International Land reported total assets of $32.47 million, total liabilities of $22.04 million and total stockholders' equity of $9.80 million. Cash was $15,635, current assets were $691,556 and current liabilities were $22.04 million. JADE PRESENTS: Case Summary & 20 Largest Unsecured Creditors ------------------------------------------------------------ Debtor: Jade Presents, LLC 1320 First Avenue North Fargo, ND 58102 Business Description: Jade Presents, LLC is a Fargo, North Dakota- based concert promotion and live entertainment event production company. Founded by Jade Nielsen in 1990, the company plans and produces live events, including act booking, event marketing, ticketing process oversight, and on-site execution. Jade Presents manages about 150 events annually in the Fargo-Moorhead-West Fargo area, including concerts, festivals, and expos. Chapter 11 Petition Date: June 6, 2026 Court: United States Bankruptcy Court District of North Dakota Case No.: 26-30438 Judge: Hon. Shon Hastings Debtor's Counsel: Maurice VerStandig, Esq. THE DAKOTA BANKRUPTCY FIRM 1630 1st Avenue N. Suite B PMB 24 Fargo, ND 58102 Tel: (701) 394-3215 Email: mac@dakotabankruptcy.com Total Assets: $393,460 Total Liabilities: $2,897,889 The petition was signed by Jade Nielsen as authorized agent. 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/BXNXGCI/Jade_Presents_LLC__ndbke-26-30438__0001.0.pdf?mcid=tGE4TAMA JFY PROPERTIES: To Hire McNamee Hosea as Bankruptcy Counsel ----------------------------------------------------------- JFY Properties LLC and JFY Properties II LLC seek approval from the U.S. Bankruptcy Court for the District of Maryland to employ McNamee Hosea, P.A. as general bankruptcy counsel. The firm will provide these services: (a) providing the Debtors legal advice with respect to its powers and duties as a Debtors in possession and in the operation of its business and management of its property; (b) preparing any necessary applications, answers, orders, reports and other legal papers, and appearing on the Debtors' behalves in proceedings instituted by or against the Debtors; (c) assisting the Debtors in the confirmation of a plan; (d) assisting the Debtors with other legal matters related to the Debtors' reorganization; and (e) performing all of the legal services for the Debtors that may be necessary or desirable herein. Subject to court approval and in accordance with sections 330 and 331 of the Bankruptcy Code, McNamee Hosea will be compensated on an hourly basis for professional services rendered, plus reimbursement of actual and necessary expenses. The firm received a retainer of $35,000 and, prior to the bankruptcy filing, drew down $4,725, including the filing fee, leaving a balance of $30,275. McNamee Hosea has no connection with the Debtors, their creditors, or any other party-in-interest in the case, except as disclosed in the verified statement filed with the court. The Debtors state that the firm represents no interest adverse to the estates and is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code. The firm can be reached at: Justin P. Fasano, Esq. MCNAMEE HOSEA, P.A. 6404 Ivy Lane, Suite 820 Greenbelt, MD 20770 Telephone: (301) 441-2420 E-mail: jfasano@mhlawyers.com About JFY Properties LLC JFY Properties LLC owns and operates The National, a 60-unit apartment building located in Baltimore, Maryland that is nearly fully leased. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Md. Case No. 26-15569) on May 26, 2026. In the petition signed by David Penner, manager, the Debtor disclosed up to $10 million in both assets and liabilities. Justin P. Fasano, Esq., McNamee Hosea, P.A., represents the Debtor as legal counsel. JTD ENTERPRISES: Court Extends Cash Collateral Access to July 31 ---------------------------------------------------------------- JTD Enterprises, LLC received another extension from the U.S. Bankruptcy Court for the District of North Dakota to use cash collateral. The court extended the Debtor's authority to access cash collateral through July 31 to pay the expenses set forth on its budget, which covers the period from May 1 through July 31. The Debtor was initially allowed to use up to $37,000 in cash collateral from April 30 to June 11 pursuant to the court's May 29 interim order. Under the latest order, the Debtor is authorized to grant Gate City Bank and other pre-petition lenders replacement liens on post-petition assets, with the same validity, priority, and effect as their pre-petition liens. Chapter 5 avoidance actions are excluded from these replacement liens. As additional protection, Gate City Bank will receive a continuing first-priority security interest in substantially all post-petition personal property of the Debtor. Gate City Bank, the primary secured creditor, holds a first-priority security interest in substantially all business assets of the Debtor including cash collateral. As of the petition date, the Debtor owed the bank $51,738. Other creditors, including Radiance Funding, Itria Ventures, LLC, Morris Trade Solutions, and Madison Advance, LLC may also claim interests in the collateral. These interests are subordinate, however, and may be unsecured because the collateral value is significantly less than the debt owed to Gate City Bank. As of the petition date, the Debtor reported $24,617 in cash collateral consisting of funds in checking accounts at Gate City Bank and Railway Credit Union; and approximately $14,000 in merchant credit card processing proceeds that were allegedly wrongfully withheld and transferred through a post-petition garnishment. These funds are currently being recovered. The order is available at http://bankrupt.com/misc/JTDEnterprises_610CCOrder.pdf Gate City Bank, as secured creditor, is represented by: Berly D. Nelson, Esq. Serkland Law Firm 10 Roberts Street North Fargo, ND 58102-4982 Phone: 701.232.8957 bnelson@serklandlaw.com About JTD Enterprises LLC JTD Enterprises, LLC filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. D.N.D. Case No. 26-30337) on April 30, 2026, with up to $50,000 in assets and $100,001 to $500,000 in liabilities. Elizabeth Lally serves as Subchapter V trustee for the Debtor. Judge Shon Hastings oversees the case. Sarah Catherine Duffy, Esq., at Ahlgren Law Office represents the Debtor as bankruptcy counsel. KEEL LABS: Case Summary & 14 Unsecured Creditors ------------------------------------------------ Debtor: Keel Labs, Inc. f/k/a AlgiKnit Inc. 1015 Aviation Parkway, Ste 400 Morrisville, NC 27560 Business Description: Keel Labs, Inc. produces Kelsun fiber, a fiber made from seaweed biopolymers, at its headquarters in Morrisville, North Carolina. The company provides services including internal fiber production, collaboration with external manufacturing partners, and support for organizations transitioning existing supply chains into systems compatible with its materials. Kelsun can be used in yarns, nonwovens, and textiles, with applications across sectors such as apparel, footwear, home goods, automotive materials, consumer packaged goods, home furnishings, and interior textiles. Chapter 11 Petition Date: June 5, 2026 Court: United States Bankruptcy Court Eastern District of North Carolina Case No.: 26-02558 Judge: Hon. Joseph N. Callaway Debtor's Counsel: Jason L. Hendren, Esq. HENDREN, REDWINE & MALONE, PLLC 4600 Marriott Drive Suite 150 Raleigh, NC 27612 Tel: (919) 420-7867 Fax: (919) 420-0475 Email: jhendren@hendrenmalone.com Total Assets: $1,394,568 Total Liabilities: $336,989 The petition was signed by Aleks Gosiewski as chief executive officer. 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/VLBXD4Y/Keel_Labs_Inc__ncebke-26-02558__0001.0.pdf?mcid=tGE4TAMA KEY POINT ARKANSAS: Seeks Chapter 11 Bankruptcy in Arkansas ----------------------------------------------------------- On June 8, 2026, Key Point Arkansas, LLC filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Eastern District of Arkansas. According to court filings, the Debtor reports between $100,001 and $1 million in debt owed to 1-49 creditors. A meeting of creditors under Section 341(a) to be held on July 9, 2026 at 10:00 AM at Ch. 11 Tele-Meeting of Creditors. About Key Point Arkansas, LLC Key Point Arkansas, LLC is a limited liability company. The bankruptcy filing does not provide detailed information regarding the company's business operations. Key Point Arkansas, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-12265) on June 8, 2026. In its petition, the Debtor reported estimated assets of $100,001 to $1 million and estimated liabilities of $100,001 to $1 million. The Debtor is represented by Anh-Thu Cecille Doan, Esq. of Law Offices of Cecille Doan. KING'S ACADEMY: Court Extends Cash Collateral Access to July 2 -------------------------------------------------------------- The U.S. Bankruptcy Court for the Middle District of Florida, Orlando Division entered a third preliminary order granting The King's Academy of West Orlando, Inc. authority to use cash collateral. Under the third preliminary order, the Debtor is authorized to use cash collateral through July 2 to pay court-approved expenses including U.S. Trustee quarterly fees; and operating costs outlined in its budget. The Debtor may exceed individual budget line items by up to 10% and may request additional expenditures with creditor approval. The Debtor projects total operational expenses of $89,237 for the period from May to July. As adequate protection, secured creditors will be granted post-petition replacement liens on cash collateral, with the same validity, extent, and priority as their pre-petition liens, without requiring additional filings. In addition, King's Academy must comply with all debtor-in-possession obligations and maintain required insurance coverage on its property consistent with loan and security agreements. The order preserves the rights of creditors and other parties to seek modified protections or challenge lien claims later in the case, and it does not limit the U.S. Trustee's authority to appoint a creditors' committee. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/eLWwp from PacerMonitor.com. The next hearing is scheduled for July 2. As of the petition date, King's Academy had approximately $4.48 in deposit accounts and its future earnings may be subject to creditors' asserted liens. Multiple UCC financing statements have been filed against the Debtor -- many by unidentified merchant cash advance lenders -- and the Debtor is reviewing them to determine the creditors and assess the validity, scope, and priority of any claimed liens. The Debtor may owe an undetermined amount to C T Corporation System, as representative. The Debtor operates a school offering educational and developmental programs for infants and children. A recent revenue decline impaired its ability to cover operating expenses and maintain cash flow, leading it to obtain a merchant cash advance loan on allegedly usurious and unconscionable terms. About The King's Academy of West Orlando Inc. The King's Academy of West Orlando, Inc. filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. M.D. Fla. Case No. 26-00557) on January 28, 2026, listing assets of up to $50,000 and liabilities of $500,001 to $1 million. L. Todd Budgen, Esq., a practicing attorney in Longwood, Fla., serves as Subchapter V trustee. Judge Grace E. Robson oversees the case. Jeffrey Ainsworth, Esq., at Bransonlaw, PLLC represents the Debtor as bankruptcy counsel. KINGSBROOK MHC: Fannie Mae Wants M. Shapiro's Kassab as Receiver ---------------------------------------------------------------- Federal National Mortgage Association, aka Fannie Mae, filed a motion with the U.S. District Court for the Eastern District of Michigan, Southern Division, seeking for an immediate appointment of Mark S. Kassab of M. Shapiro Real Estate Group as receiver for Kingsbrook MHC - Michigan, LLC. Fannie Mae also seeks entry of a temporary restraining order and preliminary injunction appointing a receiver to enforce the covenants under a mortgage and to manage and control the manufactured home community owned by Kingsbrook MHC - Michigan, LLC, located at 4600 N. Van Dyke Rd, Almont, Michigan 48003. Fannie Mae holds a mortgage on the subject property, as well as a security interest in the Personalty. Kingsbrook MHC - Michigan, LLC is the mortgagor for the Property. Borrower and/or its agent are currently in complete control of the Property. Fannie Mae seeks to have this Court appoint a neutral third-party professional who is experienced in operating properties in these circumstances, to operate the Property and protect it because Borrower is currently not able to do so. Fannie Mae says Borrower has defaulted under the Loan Documents by failing to pay the required Monthly Debt Services Payment on June 1, 2025, and for all subsequent months. Borrower has also allowed mechanics' liens to be recorded against the Property in favor of: (i) Buck's Concrete Contracting of $43,582.00; (ii) Protocon RM of $12,528.82; (iii) Jerry's Manufactured Home Removal, LLC d/b/a JMHR Group Dock and Door and JMHR Group of $574,573.50; and (iv) AR Landscape & Stonework Inc. in the amount of $245,423.00 and has failed to cause the Mechanics' Liens to be released or bonded off. Borrower also granted a lien against certain personal property in favor of Deere & Company and allowed it to be filed with the Michigan Department of State (UCC Lien). The recording of the Mechanics' Liens and UCC Lien, and Borrower's failure to bond off or release the same within 60 business days, constitutes an unauthorized Transfer, which is an automatic Event of Default under the Loan Documents. Borrower is still in control of the Property. If a receiver is not appointed to manage the Property, Borrower will continue to dissipate the rents and income from the Property. If this happens, then Plaintiff will forever lose its ability to exercise its rights to those revenues from the Property. Moreover, Borrower has failed to comply with the requirements of the Loan Documents, putting the Property at risk. The value of Fannie Mae's collateral will continue to be negatively impacted as well. The Loan Documents provide Plaintiff with a broad right to the assignment of rents and profits from the Property upon default. Plaintiff also has the right to a receiver in connection with Borrower's breaches of contract, including breaches of the covenants in the mortgage, to preserve and protect the Property. The relief requested is necessary and appropriate in this matter and is authorized under federal and Michigan law. Plaintiff requests that Mark S. Kassab of M. Shapiro Real Estate Group be appointed as the receiver in this case. Mr. Kassab has acted as receiver for numerous distressed properties throughout the nation and in Michigan. On June 30, 2022, ORIX Real Estate Capital, LLC d/b/a Lument Capital made a $7,871,000 loan to Borrower, which is evidenced by a note and secured by a mortgage. Borrower has defaulted on the Loan. The subject real estate securing the Loan is a 233-site manufactured home community in Almont, Michigan. Borrower consented in the mortgage to the ex parte appointment of a receiver by the court in the event of default. To secure repayment of the indebtedness evidenced in the Note and performance of all covenants and conditions contained therein, Borrower also executed the Mortgage dated June 30, 2022 in the amount of $7,871,000 in favor of Original Lender, which was duly recorded in the Lapeer County Register of Deeds on July 8, 2022, which granted Plaintiff a security interest in the Property, including the Mortgaged Property. Borrower also assigned to Original Lender all of Borrower's right, title, and interest in and to all rents, issues, and profits that may arise or be had from the Property, and other property rights, interests, and estates as more particularly set out in the Mortgage. Borrower has defaulted under the Loan Documents by failing to pay the required Monthly Debt Services Payment on June 1, 2025, and for all subsequent months. On August 26, 2025, counsel for Plaintiff sent a Notice of Default and Demand to Borrower, informing that an Event of Default had occurred due to, among other defaults, that Borrower is allowing an unauthorized Transfer of the Property; and failing to make the required Monthly Debt Services Payment on June 1, 2025, and for all subsequent months. The unpaid principal balance as of March 13, 2026, is approximately $7,781,000.00, and note rate interest has accrued on said unpaid principal of $365,949.03 through March 13, 2026, and default rate interest has accrued on said unpaid principal of $175,567.98 through March 13, 2026. The total amount due as principal and interest, along with reserves, late fees, and other charges, as of March 13, 2026, is $9,003,027.86, subject to any setoffs for reserve funds. In addition, Borrower is liable for attorneys’ fees and costs. Fannie Mae asserts that Borrower expressly consented in the Mortgage to the appointment of a receiver upon an Event of Default, which is defined in the Loan Agreement to include any failure by Borrower to pay or deposit when due any amount required by the Note, Loan Agreement or any other Loan Document, and the existence of such condition or event, or such failure to perform or default in performance for a period of 30 business days after written notice by Lender to Borrower of the existence of such condition or event. Plaintiff has been damaged and is entitled to the appointment of a receiver to preserve and protect the Property. Borrower continues to control the Property but has failed to pay all amounts due under the Loan Documents and failed to comply with its obligations under the Loan Documents, failed to keep the Property lien-free, and failed to comply with its obligations under the Loan Documents. Plaintiff is justifiably concerned regarding the condition of the Property in light of Borrower’s failure to pay contractors, resulting in mechanic's liens. This demonstrates that Plaintiff's interest in the collateral continues to be diminished and requires the immediate appointment of a receiver to protect Plaintiff's mortgagee interests. Plaintiff will suffer immediate and irreparable loss unless a receiver is appointed because it cannot otherwise preserve and protect its collateral and efficiently enforce the Mortgage. Fannie Mae contends Michigan's Uniform Assignment of Rents Act expressly authorizes the appointment of a receiver in such cases where there exists an assignment of rents and profits in mortgaged properties. MUARA expressly provides that an assignment of rents creates a presently effective security interest in all accrued and unaccrued rents arising from the real property and the security interest in rents is separate and distinct from any security interest held by the assignee in the real property. Fannie Mae also contends the Michigan Receivership Act expressly grants Michigan courts the authority to appoint a receiver when necessary to protect the property from waste and loss and when the mortgagor has agreed in a signed record to the appointment of a receiver. Plaintiff is entitled to the appointment of a receiver to collect income derived from the Property, and use such income to preserve and maintain its collateral. Rents and profits are necessary to ensure that the Property is maintained and protected -– something that is not occurring. It would be inequitable to allow Borrower to collect and divert the income from the Property in further breach of its obligations. About Kingsbrook MHC - Michigan, LLC Kingsbrook MHC - Michigan, LLC owns a manufactured home community located at 4600 N. Van Dyke Rd, Almont, Michigan 48003. Fannie Mae alleges that Kingsbrook MHC has defaulted on its obligations under the note, mortgage and other loan documents evidencing and/or securing a $7,871,000 loan, originally provided on June 30, 2025, by ORIX Real Estate Capital, LLC d/b/a Lument Capital. Kingsbrook MHC is facing a receivership case captioned as Federal National Mortgage Association v. Kingsbrook MHC - Michigan, LLC, Case No. 2:26-cv-11856 (E.D. Mich.), before the Hon. Jonathan J.C. Grey. The case was filed on June 4, 2026. Attorneys for Fannie Mae are: Ann Marie Uetz, Esq. Tamar N. Dolcourt, Esq. FOLEY & LARDNER LLP 500 Woodward Avenue, Suite 2700 Detroit, MI 48226 Tel: (313) 234-7100 E-mail: auetz@foley.com tdolcourt@foley.com – and – Jill Nicholson, Esq. Shannon Shin, Esq. DENTONS US LLP 233 S. Wacker Dr., #5900 Chicago, IL 60606 Tel: (312) 876-8000 E-mail: jill.nicholson@dentons.com shannon.shin@dentons.com KIRKBRIDE LAND: Court Extends Cash Collateral Access to July 31 --------------------------------------------------------------- Kirkbride Land and Snow Management, LLC received a two-month extension from the U.S. Bankruptcy Court for the Southern District of Ohio, Eastern Division, to use cash collateral. The court issued an agreed order authorizing the Debtor to use cash collateral from June 1 to July 31 on the same terms and conditions as provided in its prior order entered on September 12 last year. As part of the adequate protection provided to Kemba Financial Credit Union, the Debtor must make two payments of $10,000 each. The first payment is due this month and the second payment is due on July 15. All other terms and conditions of the September 12 order remain in effect and are not altered. Kemba Financial Credit Union is represented by: Gregory Stout, Esq. Plunkett Cooney 220 Mill Street Milford, OH 45150 Phone: 614-629-3000 Fax: 248-901-4040 gstout@plunkettcooney.com About Kirkbride Land and Snow Management Kirkbride Land and Snow Management, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Ohio Case No. 25-53599) on August 18, 2025, listing up to $10 million in both assets and liabilities. Angelia Kirkbride, managing member, signed the petition. Judge Mina Nami Khorrami oversees the case. David Whittaker, Esq., at Allen Stovall Neuman & Ashton, LLP, represents the Debtor as legal counsel. KNIGHT HEALTH: Moody's Appends 'LD' Designation to PDR ------------------------------------------------------ Moody's Ratings has appended a limited default "/LD" designation to Knight Health Holdings LLC's (ScionHealth or the "Company") probability of default rating, revising it to Caa3-PD/LD from Caa3-PD. The LD designation will remain in place for three business days. There is no change to the company's Caa3 corporate family rating and the Caa3 rating on the senior secured term loan B. The stable outlook is unaffected. On June 1, 2026, the company closed a transaction in which it repaid the remaining $400 million outstanding on its existing term loan B at less than par. As debt holders incurred losses, Moody's views the transaction as a distressed exchange, an event of default under Moody's definitions, which is reflected in the LD designation. ScionHealth is a national health system focused on delivering high-quality, patient-centered hospital care. Headquartered in Louisville, ScionHealth is focused on specialty hospital operations, anchored by a footprint of more than 60 long-term acute care facilities. KROSKOB BROS: Cash Collateral Hearing Set for June 16 ----------------------------------------------------- The U.S. Bankruptcy Court for the District of Colorado is set to hold a final hearing on June 16 on Kroskob Bros Farms & Trucking, Inc.'s bid to use cash collateral. The Debtor is currently authorized to use cash collateral through June 26 pursuant to the court's May 29 second interim order. The second interim order approved the payment of expenses with cash collateral in accordance with the Debtor's budget and granted protection to secured lender, Mountain Valley Bank, through a replacement lien on post-petition assets (excluding Chapter 5 avoidance actions); a $5,000 payment; and a potential superpriority administrative claim. Additional safeguards include monthly budget variance reports, collateral inspection rights, and insurance coverage on the collateral. The Debtor's authority to use cash collateral will terminate upon an event of default including budget violations, conversion or dismissal of its Chapter 11 case, or unauthorized lien granted to a creditor other than Mountain Valley Bank. Mountain Valley Bank, as secured lender, is represented by: Chad S. Caby, Esq. Womble Bond Dickinson (US), LLP 1601 19th Street, Suite 1000 Denver, CO 80202 Tel: 303-628-9583 Fax: 303-623-9222 Chad.Caby@wbd-us.com About Kroskob Bros Farms & Trucking Inc. Kroskob Bros Farms & Trucking, Inc. operates an agricultural business focused on hay and crop production along with trucking services supporting farm logistics. The company manages cultivation and transportation of agricultural products through its farm and trucking operations. Kroskob sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Colo. Case No. 26-12777) on April 22, 2026, with up to $50 million in both assets and liabilities. Kroskob President Brandon Kroskob signed the petition. Judge Thomas B. McNamara oversees the case. Jeffrey A. Weinman, Esq., at Michael Best & Friedrich, represents the Debtor as legal counsel. LAKE COUNTY: Court Extends Cash Collateral Access to June 30 ------------------------------------------------------------ The U.S. Bankruptcy Court for the Northern District of Illinois extended Lake County Hospitality, LLC's authority to use cash collateral. The court entered its 13th interim order authorizing the Debtor to use cash collateral through June 30 to pay the operating expenses set forth in its budget, subject to a 10% variance. Albany Bank & Trust Company, N.A, a senior secured creditor, holds a lien on the Debtor's assets, including its hotel property located at 900 W. Lake Cook Road in Buffalo Grove, Ill. These assets secure a loan balance of approximately $4.8 million. As protection, Albany was granted replacement liens on all types of collateral in which it held a security interest and lien as of the petition date. This includes, without limitation, cash in the possession of Debtor resulting from its operations and the proceeds thereof. All of Albany's rights as senior secured creditor are otherwise unimpaired by the 13th interim order and are preserved. A copy of the order and the Debtor's budget is available at https://shorturl.at/9LM3z from PacerMonitor.com. The next hearing is set for June 24, with objections are due by June 22. About Lake County Hospitality Lake County Hospitality, LLC operates in the hotel and lodging sector and is associated with properties in Illinois. It manages hospitality assets and has been linked to hotels such as Four Points by Sheraton in Buffalo Grove. Lake County Hospitality sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 25-08293) on May 30, 2025. In its petition, the Debtor reported between $1 million and $10 million in both assets and liabilities. Judge Timothy A. Barnes handles the case. Paul M. Bach, Esq., at Bach Law Offices is the Debtor's bankruptcy counsel. Albany, as senior secured creditor, is represented by: David A. Golin, Esq. Saul Ewing, LLP 161 North Clark Street, Suite 4200 Chicago, IL 60601 Phone: (312) 876-7100 david.golin@saul.com LAKEHURST AND BROADWAY: Court Won't Enforce Stay Relief Order ------------------------------------------------------------- The Hon. Michael B. Kaplan of the U.S. Bankruptcy Court for the District of New Jersey denied in its entirety the motion filed by Marshell Landrum, as personal representative of the estate of Michael W. Landrum, seeking three forms of relief: (1) enforcement of this Court's Limited Stay Relief Order dated July 21, 2025; (2) compelled assignment of insurance rights from the Litigation Trust; and (3) sanctions against Cole Schotz P.C., counsel to the Liquidating Trustee and Lakehurst and Broadway Corporation, et al., the Wind-Down Debtors. Rite Aid filed for bankruptcy a second time on May 5, 2025, resulting in the current Chapter 11 Cases, which were formerly administered under lead case In re New Rite Aid, LLC, Case No. 25-14861, and are presently administered under In re Lakehurst and Broadway Corporation, Case No. 25-14831. On June 9, 2025, Movant filed an Emergency Motion for Relief from the Automatic Stay to pursue wrongful death claims relating to her father's death, which she alleges was caused by the Debtors' conduct in dispensing Promethazine. On July 21, 2025, this Court entered its Limited Stay Relief Order, which granted Movant limited relief for two specific purposes: 1. To pursue any rights Movant may have against the Unassigned Insurance Policies under the 2023 Rite Aid Plan; and 2. To seek assignment of other insurance rights from the 2023 Trust, subject to the provisions of the confirmed 2023 Rite Aid Plan. The 2025 New Rite Aid Plan became effective on December 31, 2025, and established the RAD Liquidating Trust under Eric Kaup as Liquidating Trustee, with Cole Schotz as counsel. Movant appears to believe that the Limited Stay Relief Order entitled Movant to receive an assignment of insurance rights that it was an affirmative grant of those rights. According to the Court that is incorrect. The Order authorized Movant to seek an assignment from the 2023 Trust, expressly subject to the terms of the 2023 Rite Aid Plan. Judge Kaplan explains, "The distinction is not technical. It is the entire substance of what was ordered. Critically, the Court did not order any party not the Liquidating Trustee, not Cole Schotz, not Sub-Trust B to assign anything to Movant. There is therefore no order to 'enforce.' The predicate of the motion fails." Even if the Court were to construe the motion as a fresh request for assignment rather than an enforcement motion it would still fail. The Court emphasizes that the 2023 Rite Aid Plan and Confirmation Order vest Sub-Trust B with discretionary authority, not a mandatory obligation, to assign Assigned Insurance Rights to individual tort claimants. The Confirmation Order expressly provides that Sub-Trust B has the power to assign and/or transfer Assigned Insurance Rights for Tort Claims to Holders of Allowed Tort Claims, subject to reasonable restrictions so as not to interfere with, increase costs to, or impede the efforts of, the Litigation Trust. Movant seeks sanctions against the law firm, Cole Schotz on the ground that counsel acted in bad faith, vexatiously, wantonly, or for oppressive reasons. The Court finds no basis whatsoever for sanctions in this case. A copy of the Court's Letter Ruling dated June 11, 2026, is available at https://urlcurt.com/u?l=Dhgojt from PacerMonitor.com About Rite Aid Rite Aid is a full-service pharmacy committed to improving health outcomes. Rite Aid is defining the modern pharmacy by meeting customer needs with a wide range of solutions that offer convenience, including retail and delivery pharmacy, as well as services offered through the Company's wholly owned subsidiary Bartell Drugs. On the Web: http://www.riteaid.com/ Rite Aid and certain of its subsidiaries previously filed for chapter 11 bankruptcy in October 2023 and emerged from bankruptcy in August 2024. On May 5, 2025, New Rite Aid, LLC and its subsidiaries, including Rite Aid Corporation, commenced voluntary Chapter 11 proceedings (Bankr. D.N.J. Lead Case No. 25-14861). As of the 2025 bankruptcy filing date, Rite Aid operates 1,277 stores and 3 distribution centers in 15 states and employs approximately 24,500 people. Rite Aid is using the Chapter 11 process to pursue a sale of its prescriptions, pharmacy and front-end inventory, and other assets. The cases are being administered by the Honorable Michael B. Kaplan. Paul, Weiss, Rifkind, Wharton & Garrison LLP is serving as legal advisor, Guggenheim Securities, LLC is serving as investment banker, and Alvarez & Marsal is serving as financial advisor to the Company. Joele Frank, Wilkinson Brimmer Katcher is serving as strategic communications advisor to the Company. Kroll is the claims agent and maintains the page https://restructuring.ra.kroll.com/RiteAid2025 Bank of America, N.A., as DIP Agent, is represented by lawyers at Greenberg Traurig, LLP; and Choate Hall & Stewart LLP. LAUNDRY BAR: Gets Final OK to Use Cash Collateral ------------------------------------------------- The U.S. Bankruptcy Court for the Northern District of Texas, Dallas Division, entered a final order authorizing The Laundry Bar, LLC to use cash collateral. Under the final order, the Debtor is authorized to use cash collateral based on its 90-day operating projection. The Debtor must not exceed the projection by more than 15% for any individual budget line item. The Debtor's primary secured creditor is Clean Laundry Funding, a division of Western State Bank, which holds a secured promissory note in the original principal amount of $626,797.75. Clean Laundry Funding holds a blanket lien on substantially all of the Debtor's assets, including accounts and proceeds, daily operating revenues, and funds in the Debtor's operating account at Bank of America, N.A., all of which constitute cash collateral. As of the petition date, the Debtor held $26,717.58 in its Bank of America account. As adequate protection, Clean Laundry Funding will be granted replacement liens on the Debtor's post-petition assets (excluding Chapter 5 avoidance actions) similar to its pre-petition collateral. Additional safeguards include monthly payments of $4,200 to Clean Laundry Funding; monthly financial reporting; and insurance coverage on all collateral, with Clean Laundry Funding designated as loss payee. Events that would terminate the Debtor's authority to use cash collateral include failure to make adequate protection payments; material deviations from the approved budget; failure to provide required reports; dismissal or conversion of the Debtor's Chapter 11 case; and appointment of a Chapter 7 trustee. The order preserves all parties' rights regarding the validity, extent, priority, and enforceability of liens and claims. The order is available at http://bankrupt.com/misc/LaundryBar_ICCOrder.pdf Clean Laundry Funding, as secured creditor, is represented by: Kelsey N. Linendoll, Esq. Padfield & Stout, L.L.P. 100 Throckmorton Street, Suite 700 Fort Worth, TX 76102 Telephone: (817) 338-1616 Facsimile: (817) 338-1610 About the Laundry Bar LLC The Laundry Bar, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Texas Case No. 26-31817) on April 28, 2026. In the petition signed by Andre Johnstone-Cloete, owner, the Debtor disclosed up to $500,000 in assets and up to $1 million in liabilities. Judge Scott W. Everett oversees the case. C. Daniel Herrin, Esq., at Herrin Law, PLLC, represents the Debtor as bankruptcy counsel. Katharine Battaia Clark of Thompson Coburn, LLP serves as Subchapter V trustee for the Debtor. LAVIE CARE: No Complaints at NC Facilities, 10th PCO Report Says ---------------------------------------------------------------- Renee Kea, the Interim State Long-Term Care Ombudsman, filed his tenth report regarding the quality of patient care provided at the North Carolina nursing facilities operated by LaVie Care Centers, LLC's affiliates. Visits were conducted by the regional long-term care ombudsmen who report programmatically to the State Long-Term Care Ombudsman (SLTCO) who is housed within the NC Division of Aging. All the facilities are skilled nursing facilities. Regional ombudsmen conducted visits to the 16 facilities between April 2 and May 12. Residents in several facilities indicated they were comfortable raising concerns with facility leadership, and ombudsmen generally observed facilities to be clean and adequately maintained, with food, supplies, and medication security appearing sufficient. During their visit, ombudsmen toured the facilities so they could observe the environment, meet and greet residents, staff, families (if available), review Survey Reports, and make general observations. Ombudsman observations and meetings with residents and family members revealed satisfaction with care and cleanliness. Regional ombudsmen will continue to visit and meet with residents to ensure that they are receiving the highest quality of care and that the bankruptcy reorganization does not have any adverse impact on their quality of care. The ombudsman noted that the patients, families, and staff were satisfied with the quality of care provided. While isolated concerns were identified at certain facilities, there is no indication of a systemic decline in care across the facilities. They did not express any concerns that the bankruptcy was adversely impacting the quality of care provided to the residents in the 16 facilities. A copy of the ombudsman report is available for free at https://urlcurt.com/u?l=rYgc46 from Kurtzman Carson Consultants, LLC, claims agent. About Lavie Care Centers LaVie Care Centers, LLC is the parent company of skilled nursing facility operators and providers, with facilities primarily located in Mississippi, North Carolina, Pennsylvania and Virginia. The company operates 43 licensed facilities, with 4,300 beds, providing short-term rehabilitation, comprehensive post-acute care, and long-term care to its residents. On June 2 and 3, 2024, LaVie Care Centers and 281 affiliates filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Ga. Lead Case No. 24-55507), before Judge Paul Baisier in Atlanta. The Debtors tapped McDermott Will & Emery, LLP as legal counsel; Stout Capital, LLC as investment banker; and Ankura Consulting as financial advisor. M. Benjamin Jones, senior managing director at Ankura, serves as the Debtors' chief restructuring officer. Kurtzman Carson Consultants, LLC is the claims agent, and maintains the page http://www.kccllc.com/LaVie The U.S. Trustee for Region 21 appointed an official committee to represent unsecured creditors in the Debtors' Chapter 11 cases. The U.S. Trustee also appointed Joani Latimer as patient care ombudsman for patients at the Debtors' Virginia facilities; Victor Orija for North Carolina facilities; Lisa Smith for the Mississippi facilities; Margaret Barajas for the Pennsylvania facilities; and Terri Cantrell for the Florida facility. LEESTMA MANAGEMENT: Court Extends Cash Collateral Access to July 9 ------------------------------------------------------------------ A U.S. bankruptcy judge overseeing the Chapter 11 cases of Leestma Management, LLC and its affiliated debtors approved another extension to use cash collateral to fund the companies' operations. Judge Caryl Delano of the U.S. Bankruptcy Court for the Middle District of Florida entered a third interim order authorizing John Polderman, the state court-appointed receiver, to use cash collateral from the petition date through July 9. The receiver was previously authorized to access cash collateral under two interim orders entered by the court on April 17 and April 30. Under the third interim order, the receiver is authorized to use cash collateral based on an approved budget, subject to permitted variances. Individual budget items may exceed projections by up to 15%, provided total expenses do not exceed the overall budget by more than 10%. No payments may be made to insiders or affiliate officers without a court order or approval from secured creditors Independent Bank, and Lake Michigan Credit Union. The receiver is also authorized under the third interim order to take custody of the real property located in Grand Rapids, Michigan, and owned by Leestma Management; collect the proceeds generated by the property; and use such proceeds as provided in the order. Lake Michigan Credit Union and Independent Ban claim security interests in substantially all of the companies' assets through various UCC-1 filings. As adequate protection, both creditors will receive replacement liens on post-petition cash collateral, with the same validity, priority and extent as their pre-petition liens. Additional safeguards include insurance coverage on the collateral and bi-weekly budget variance and accounts receivable aging reports. The order preserves all parties' rights regarding the extent, validity, and priority of liens and claims. The court made no final determination on those issues and allowed creditors to seek additional adequate protection or other remedies if necessary. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/NpqLu from PacerMonitor.com. Leestma Management owns or controls multiple real estate development entities and has historically relied on intercompany transfers and seasonal cash flows to fund enterprise-wide operations. While each subsidiary maintains separate accounts and pays its own expenses, excess cash is often transferred to Leestma Management to support broader operational needs. The bankruptcy filing and receivership disrupted this integrated cash management system, requiring court approval to restore controlled cash management practices. About Leestma Management LLC Leestma Management, LLC, based in Bradenton Beach, Florida, manages real estate investments and development projects, including the Adelaide Pointe waterfront complex along Muskegon Lake, Michigan, a mixed-use development held through affiliated entities such as Adelaide Pointe Building 1, LLC, Adelaide Pointe QOZB, LLC, Adelaide Pointe Boaters Services, LLC, and Waterland Battle Creek, LLC. The company oversees marina operations, residential and commercial property management, and broader development activities, consolidating operational and brand control under the Adelaide Pointe trademark. Leestma Management and four affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Lead Case No. 26-02696) on April 1, 2026. In its petition, Leestma Management reported between $50 million and $100 million in both assets and liabilities. Judge Caryl E. Delano oversees the cases. The Debtors are represented by David Jennis, Esq., at Jennis Morse. John Polderman, the state court-appointed receiver and custodian of the Debtors, is represented by Alberto F. Gomez, Jr., Esq., at Johnson Pope Bokor Ruppel & Burns, LLP. LIKEWIZE CORP: Moody's Lowers CFR to 'Caa1', Outlook Negative ------------------------------------------------------------- Moody's Ratings has downgraded Likewize Corp.'s (Likewize) corporate family rating to Caa1 from B3 and its probability of default rating to Caa1-PD from B3-PD. Concurrently, Moody's downgraded the senior secured bank credit facility ratings to Caa1 from B3. The outlook remains negative. "The downgrade and negative outlook reflects Likewize's underperformance relative to Moody's expectations and weak liquidity," said Moody's Ratings analyst Justin Remsen. "Despite some improvement in 2025 and early 2026, EBITDA and free cash flow remain insufficient to comfortably absorb mandatory amortization, and Moody's sees heightened restructuring risk over the next two years absent a step-change in operating performance." Moody's views governance as a driver of the ratings driven by Moody's views of elevated restructuring risk. RATINGS RATIONALE Likewize's Caa1 CFR reflects the company's elevated leverage, limited free cash flow generation, significant supplier concentration, and execution risk as the company continues to reposition itself as a device protection and lifecycle services provider. The rating also reflects Moody's views of weak liquidity and elevated restructuring risk. The rating also considers Likewize's established positions with blue-chip carrier and OEM customers, multi-year contracts in device protection (typically 3+ years, with several materially longer), and the higher-margin profile of the device protection segment, which Moody's expects to remain the company's primary engine of gross profit growth over time. Over the next 12 to 18 months, Moody's expects revenue to remain roughly flat, with gradual improvement in profitability. Growth in the upgrade business is likely to be measured, partially due to pricing volatility, while growth in device protection should provide an offset as new program launches, subscriber additions, and broader service offerings ramp. Moody's views Likewize's liquidity as weak. Internal liquidity is supported by $43 million cash balance and Moody's expectations of negative free cash flow before mandatory debt amortization over the next 12 months, against meaningful required term loan amortization. External liquidity is provided by the $125 million revolving credit facility, availability under which is reduced by $39 million letters of credit and $54 million drawn as of March 31, 2026. The company is also in process of closing liquidity sources that could increase revolver availability. ESG CONSIDERATIONS Likewize's ESG Credit Impact Score was changed to CIS-5 from CIS-4, indicating that ESG considerations have a pronounced impact on the current rating, which is lower than it would have been absent such considerations. The score is driven by highly negative governance exposure, which was changed to G-5 from G-4, reflecting elevated risk of restructuring. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS The ratings could be downgraded if free cash flow turns negative on a sustained basis, if liquidity deteriorates further, or if the probability of a distressed exchange or other default event rises. The ratings could be upgraded if the company stabilizes revenues and improves gross profit and leverage. An upgrade would also require a meaningful improvement in liquidity, including increased revolver availability and positive free cash flow. Likewize Corp., headquartered in Southlake, Texas, provides end-to-end device lifecycle management solutions for the mobile device industry, including device protection, trade-in and upgrade, tech support, supply chain services, reverse logistics and repair. The company is majority owned by funds affiliated with Genstar Capital LLC, with minority ownership held by Brightstar Capital and other co-investors. Likewize reported revenue of approximately $1.8 billion for fiscal year 2025. The principal methodology used in these ratings was Distribution and Supply Chain Services published in November 2025. The net effect of any adjustments applied to rating factor scores or scorecard outputs under the primary methodology(ies), if any, was not material to the ratings addressed in this announcement. LMD HOLDINGS: Affiliates Seek $1.36MM DIP Loan from SummitBridge ---------------------------------------------------------------- Luca Mariano Distillery, LLC and Luca Mariano Holdings, LLC ask the U.S. Bankruptcy Court for the Eastern District of Michigan, Southern Division, for approval of further amendment of an existing Final Order approving post-petition financing and use of cash collateral. The Debtors seek to modify the previously entered Final DIP Order, as already modified once before, in order to increase the debtor-in-possession credit facility provided by SummitBridge National Investments VIII LLC by an additional $317,500, raising the total availability under the DIP Facility to approximately $1.36 million in accordance with the updated budget. The Debtors originally commenced their chapter 11 cases in July 2025 (Holdings) and October 2025 (Distillery), and have since continued operating as debtors in possession without the appointment of a trustee, examiner, or official committee of unsecured creditors. The court previously approved a $900,000 DIP facility through a Final DIP Order entered on December 31, 2025, which has been subsequently amended to extend financing flexibility as the case has progressed. The Debtors' restructuring strategy is centered on a structured sale process of substantially all assets, which is now incorporated into a pending combined plan of liquidation and disclosure statement. That plan contemplates an auction and sale process with a reported current offer of approximately $17.6 million, which is intended to maximize value for creditors. The Debtors explain that the additional DIP funds are necessary to support the continued administration of the cases, including maintaining minimal ongoing operations, paying required adequate protection obligations to secured lenders (notably FCMA), making lease payments to Farm Credit Leasing, funding insurance and administrative expenses, and preserving the value of the estate during the extended sale and confirmation timeline. The Debtors emphasize that the additional borrowing is limited in scope and purpose, and is intended primarily to ensure compliance with existing court-approved payment obligations and to prevent deterioration of estate value while the sale process continues. The Debtors note that under 11 U.S.C. section 363(c)(2), cash collateral may only be used with either creditor consent or court authorization after notice and hearing, and that adequate protection under section 361 can be provided through mechanisms such as replacement liens or other protections to prevent diminution in value of secured interests. The Debtors assert that the proposed financing and budget satisfy these requirements and are necessary for the continued viability of the restructuring effort. The proposed court order reflects the proposed amendment to the DIP financing arrangement, formally increasing the facility and revising the structure of available “draws.” The amended order raises the total DIP commitment to $1,360,000 and breaks the additional funding into staged supplemental draws, including $142,500 and $317,500 increments, subject to satisfaction of loan conditions. It also updates case milestones requiring the Debtors to obtain approval of a sale order for substantially all assets by mid-July 2026 and to close such sale by mid-August 2026, with proceeds sufficient to repay DIP and prepetition secured obligations in full. A detailed budget included in the filing shows that the Debtors expect continued negative operating cash flow over the relevant weeks, driven by operating expenses such as utilities, insurance, rent or lease obligations, professional fees, and adequate protection payments to secured lenders. These shortfalls are projected to be funded through incremental DIP loan draws totaling $317,500 over the forecast period. The budget also reflects relatively minimal cash balances, reinforcing the need for continued financing to maintain operations and satisfy court-ordered payments. A copy of the motion is available at https://urlcurt.com/u?l=LfV2Iy from PacerMonitor.com. About LMD Holdings LLC LMD Holdings LLC operates Luca Mariano Distillery, a beverage manufacturer located at 128 Letton Drive in Danville, Kentucky. LMD Holdings sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Mich. Case No. 25-47214) on July 17, 2025. In its petition, the Debtor reported between $1 million to $10 million in assets and liabilities. Bankruptcy Judge Paul R. Hage handles the case. The Debtor is represented by Robert Bassel, Esq., at Robert N. Bassel. SummitBridge National Investments VIII LLC, as DIP lender, is represented by: Ronald E. Gold, Esq. Joy D. Kleisinger, Esq. Frost Brown Todd LLP 3300 Great American Tower 301 East Fourth Street Cincinnati, Ohio 45202 Telephone: (513) 651-6800 Facsimile: (513) 651-6981 E-mail: rgold@fbtlaw.com jkleisinger@fbtlaw.com LOCK 27 BREWING: Gets Final OK to Use Cash Collateral ----------------------------------------------------- Lock 27 Brewing, LLC received final approval from the U.S. Bankruptcy Court for the Southern District of Ohio to use cash collateral. Under the final order, the Debtor is authorized to use cash collateral in accordance with an approved operating budget. Weekly expenses generally may not exceed budgeted amounts by more than 10%, except for cost of goods sold, which may vary based on actual revenue. Any unused budget amounts may be carried forward to later weeks, while any material budget modifications require either lender consent or further court approval. As adequate protection, the Debtor must make monthly payments of $800 to Fifth Third Bank. In addition, any creditor holding a valid interest in the cash collateral will be granted replacement liens on post-petition assets similar to their pre-petition collateral. The Debtor's authority to use cash collateral will automatically terminate upon specified events, including unauthorized budget overruns that remain uncured, failure to make adequate protection payments within five business days after notice, or conversion or dismissal of the Chapter 11 case. The order also permits future extensions of cash collateral use through stipulations among the Debtor, Fifth Third Bank, and the Subchapter V trustee, subject to no objection from the U.S. Trustee. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/AIMV7 from PacerMonitor.com. About Lock 27 Brewing LLC Lock 27 Brewing LLC, established in 2012, is a craft brewery based in Centerville, Ohio. The company brews beer and distributes its products to bars and retailers in Ohio. Its name references the Miami & Erie Canal and Lock 27 in Miamisburg, Ohio. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Ohio Case No. 26-30874) on April 22, 2026. In the petition signed by Charles S. Barnhart, president, the Debtor disclosed up to $50,000 in assets and up to $10 million in total liabilities. Judge Tyson A. Crist oversees the case. Denis E. Blasius, Esq., at Thomsen Law Group, LLC represents the Debtor as counsel. LRG BUILDER: Seeks to Hire David C. Johnston as Attorney -------------------------------------------------------- LRG Builder Services, Inc., seeks approval from the U.S. Bankruptcy Court for the Eastern District of California to employ David C. Johnston, Esq., a professional practicing law in California, as attorney. The professional's services include: a. giving the Debtor legal advice about various bankruptcy options, including relief under Chapters 7, 11, 12, and 13, and legal advice about non-bankruptcy alternatives for dealing with the claims against it; b. giving the Debtor in Possession legal advice about its rights, powers, and obligations in the Chapter 11 case and in the management of the estate; c. taking necessary action to enforce the automatic stay and to oppose motions for relief from the automatic stay; d. taking necessary action to recover and avoid any preferential or fraudulent transfers and to exercise the Debtor in Possession's strong-arm powers; e. appearing with the Debtor's chief executive officer at the meeting of creditors, status conferences, and other hearings held before the Court; f. reviewing and if necessary, objecting to proofs of claim; g. taking steps to obtain Court authority for the sale of assets; and h. preparing a plan of reorganization and taking all steps necessary to bring the plan to confirmation, if possible. Mr. Johnston will be paid at $500 per hour. Prior to the filing of the Chapter 11 case, the Debtor paid Mr. Johnston a retainer of $5,262 toward attorney's fees and $1,738 which was used to pay the Clerk's filing fee. He will also be reimbursed for reasonable out-of-pocket expenses incurred. Mr. Johnston disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. He can be reached at: David C. Johnston, Esq. 1600 G Street, Suite 102 Modesto, California 95354 Tel: (209) 579-1150 Fax: (209) 900-9199 About LRG Builder Services Inc. LRG Builder Services, Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Calif. Case No. 26-12118) on May 8, 2026, with $100,001 to $500,000 in assets and $500,001 to $1 million in liabilities. Judge Jennifer E. Niemann presides over the case. David C. Johnston, Esq., represents the Debtor as legal counsel. LURIN REAL: Three Affiliates File Voluntary Chapter 11 Petitions ---------------------------------------------------------------- Two affiliates that concurrently filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code on May 28, 2026: Debtor Case No. ------ -------- Lurin Real Estate Holdings XXV, LLC 26-90556 d/b/a Overlook at Pensacola Bay 2101 Cedar Springs, Suite 1050 Dallas, TX 75201 Lurin Real Estate Holdings XXIV, LLC 26-90557 d/b/a Ascend at Pensacola Bay 2101 Cedar Springs, Suite 1050 Dallas, TX 75201 Another affiliates that filed bankruptcy petition on June 3, 2026: Lurin Real Estate Holdings VI, LLC 26-34041 d/b/a Estates at Palm Bay 2101 Cedar Springs, Suite 1050 Dallas, TX 75201 Business Description: Lurin Real Estate Holdings XXV, LLC, Lurin Real Estate Holdings XXIV, LLC, and Lurin Real Estate Holdings VI, LLC are Lurin-affiliated real estate holding entities that operate multifamily residential rental communities in Florida under the names The Overlook at Pensacola Bay, The Ascend at Pensacola Bay and Estates at Palm Bay. The properties include apartment communities in Pensacola and Fort Walton Beach, offering renovated apartment and townhome-style units with resident amenities. The entities are part of Lurin's workforce-housing platform, which focuses on acquiring, redeveloping and operating multifamily communities in path-of-progress markets. Court: United States Bankruptcy Court Southern District of Texas Judge: Hon. Alfredo R Perez Debtors' Bankruptcy Counsel: Joshua W. Wolfshohl, Esq. PORTER HEDGES LLP 1000 Main Street, 36th Floor Houston, TX 77002 Tel: (713) 226-6000 Email: jwolfshohl@porterhedges.com Lurin Real Estate Holdings XXV, LLC's Estimated Assets: $10 million to $50 million Lurin Real Estate Holdings XXV, LLC's Estimated Liabilities: $10 million to $50 million Lurin Real Estate Holdings XXIV, LLC's Estimated Assets: $10 million to $50 million Lurin Real Estate Holdings XXIV, LLC's Estimated Liabilities: $1 million to $10 million Lurin Real Estate Holdings VI, LLC's Estimated Assets: $50 million to $100 million Lurin Real Estate Holdings VI, LLC's Estimated Liabilities: $50 million to $100 million The petitions were signed by Mark Shapiro as chief restructuring officer. The Debtors did not submit lists of their 20 largest unsecured creditors along with the petitions. Full-text copies of the petitions are available for free on PacerMonitor at: https://www.pacermonitor.com/view/2X7IC5I/Lurin_Real_Estate_Holdings_XXV__txsbke-26-90556__0001.0.pdf?mcid=tGE4TAMA https://www.pacermonitor.com/view/4U6ZF7Y/Lurin_Real_Estate_Holdings_XXIV__txsbke-26-90557__0001.0.pdf?mcid=tGE4TAMA https://www.pacermonitor.com/view/CEG4VNY/Lurin_Real_Estate_Holdings_VI__txsbke-26-34041__0001.0.pdf?mcid=tGE4TAMA The Debtors' cases are jointly administered under the case number assigned to the chapter 11 case of Lurin Real Estate Holdings XXI, LLC XXI, LLC, Case No. 26-90344 (ARP). M.K. WEEDEN: Hires High Country Realty as Real Estate Brokers ------------------------------------------------------------- M.K. Weeden Construction, Inc. and affiliates seeks approval from the U.S. Bankruptcy Court for the District of Montana to employ High Country Realty as real estate brokers. The firm will market and sell the following properties: a. Lots 1 through 4 of the Peaceful Lookout Subdivision; b. Hangar located at 23 Taxiway E., Lewistown, MT 59457; c. Two (2) acres of land located at NHN US Hwy. 97, Lewistown, MT 59457; d. Thirty-Five (35) acres at Truck Bypass, Lewistown, MT 59457; and e. Seven (7) acres at NHN Truck Bypass, Lewistown, MT 59457 The firm will be paid based upon its normal and usual commission. As disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Michael Pallett 415 1st Ave N, Lewistown, MT 59457 Tel: (406) 707-0108 Email: mikepallettrealtor@gmail.com About M.K. Weeden Construction Inc. M.K. Weeden Construction, Inc., based in Lewistown, Montana, is an earthmoving and heavy civil construction contractor operating throughout Montana, Wyoming, and the western United States. Founded in 1991 and incorporated in 1994, the Company has grown to approximately 150 employees and over 200 pieces of equipment. It provides large-scale excavation and earthmoving services, leveraging advanced construction technology to support efficiency and project quality. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Mont. Case No. 25-40100) on December 11, 2025. In the petition signed by Monte K. Weeden, president and manager, the Debtor disclosed $27,956,847 in total assets and $23,678,668 in total liabilities. Judge Benjamin P. Hursh oversees the case. Laurie Thornton, Esq., at DBS LAW, represents the Debtor as legal counsel. MARELLI AUTOMOTIVE: Seeks to Amend DIP Loan Agreements ------------------------------------------------------- Marelli Automotive Lighting USA LLC and its affiliates ask the U.S. Bankruptcy Court for the District of Delaware to approve amendments to their existing debtor-in-possession credit agreements. The requested relief aims to extend loan maturities through the end of the year and secure $300 million in incremental liquidity to fund ongoing operations and restructuring efforts through the remainder of their Chapter 11 cases. Since their Chapter 11 protection filing, they have focused on stabilizing business operations, minimizing disruptions to their 20,000 vendors, and deferring prepetition trade payments through roughly 800 negotiated trade agreements. The proposed restructuring transforms the initial $1.1 billion DIP facility into an upsized, multi-tranche credit arrangement with an extended maturity date of December 31, 2026 (with provisions for an automatic extension to March 31, 2027, under specific regulatory and exit-financing conditions). The restructured facility introduces a new $900 million Amended Senior DIP Facility, which consists of rolled-over existing Tranche A loans and new-money Tranche A loans. Deutsche Bank AG, London Branch (along with its affiliates or related funds) serves as the primary lender for these New Tranche A DIP Loans. These obligations will carry a non-default interest rate of Term SOFR plus 8.00% per annum, payable in cash. Simultaneously, the Amended Junior DIP Facility will be expanded from approximately $242 million to up to $542 million by introducing a Tranche A-1 DIP Facility of up to $300 million in senior new-money term loans. The lenders for the Tranche A-1 loans comprise each member of the Ad Hoc Group of Senior Lenders (and/or their managed or advised investment funds, accounts, or affiliates), who have committed to provide 100% of this facility on a pro-rata basis aligned with their existing Tranche B Junior DIP holdings. The Tranche A-1 loans will bear interest at Term SOFR plus 10.00% per annum, payable in kind. In terms of priority, the New Tranche A obligations remain senior in right of payment and lien priority to the Tranche A-1 loans, prepetition secured debt, and existing junior DIP loans. The proceeds from the New Tranche A loans will be utilized to roll over or repay existing super-senior obligations, with excess funds allocated toward working capital, Chapter 11 administrative expenses, bankruptcy plan distributions, and the designated Carve-Out. The Tranche A-1 proceeds will similarly support working capital and administrative costs in strict accordance with the approved DIP budget and variance covenants. To secure these commitments, the Debtors have agreed to a comprehensive fee structure: Tranche A Fees: Features a cash amendment fee of 1.00% for lenders rolling 100% of their existing loans (0.50% for partial rolls), a 0.50% original issue discount (OID) on new-money loans, a 2.00% cash exit fee, and a conditional interest make-whole provision if repaid before December 1, 2026. Tranche A-1 Fees: Includes a 2.00% cash exit fee, a 5.00% commitment fee (payable in kind), a 4.00% funding fee (payable in kind), and a 10.00% per annum ticking fee on outstanding daily commitments (payable in kind). To shield Prepetition Secured Parties from any potential diminution in value of their interests in the prepetition collateral, the Debtors propose to fully maintain the robust adequate protection package previously established under the Final DIP Order. This package encompasses Adequate Protection Liens, Adequate Protection Claims, Reporting Obligations, Fees and Expenses, and Adequate Protection Payments. All elements remain strictly subject to the carve-out for statutory fees and allowed professional fees of the Debtors and the Committee. The Debtors submit that this framework is entirely fair, appropriate, and sufficient under the circumstances to ensure that operations can be seamlessly funded and administered in the ordinary course of business for the benefit of all stakeholders. The Debtors emphasize that the terms of these amended facilities were thoroughly market-tested in April 2026 when their advisors contacted eight potential third-party lender groups. Because the existing DIP lenders submitted the only actionable proposal, Marelli asserts that the commitments represent the best available option under current market circumstances. The Debtors maintain that finalizing post-emergence contractual agreements with their complex network of global customers requires additional time, making the maturity extension and liquidity injection vital to preserving the company's going-concern value. A copy of the motion is available at https://urlcurt.com/u?l=ka3Z8h from PacerMonitor.com. About Marelli Automotive Lighting USA LLC Marelli Automotive Lighting USA, LLC is a global automotive parts supplier based in Saitama, Japan. The company designs and manufactures advanced technologies for leading automakers, including lighting systems, electronic components, software solutions, and interior products. Operating in 24 countries with a workforce of over 46,000, Marelli also collaborates with motorsports teams and industry partners on high-performance component development. Marelli and its affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Lead Case No. 25-11034) on June 11, 2025. In its petition, Marelli reported between $1 billion and $10 billion in assets and liabilities. Judge Brendan Linehan Shannon handles the cases. The Debtors are represented by Kirkland & Ellis LLP, Kirkland & Ellis International LLP, and Pachulski Stang Ziehl & Jones LLP. Alvarez & Marsal North America, LLC is the Debtors' restructuring advisor. PJT Partners Inc. is the Debtors' investment banker. Kurtzman Carson Consultants, LLC, doing business as Verita Global, is the Debtors' notice and claims agent. The U.S. Trustee for Region 3 appointed an official committee to represent unsecured creditors in the Debtors' Chapter 11 cases. The committee tapped Paul Hastings, LLP and Morris James, LLP as legal counsel and FTI Consulting, Inc. as its financial advisor. MASA OAK: Seeks Chapter 11 Bankruptcy in California --------------------------------------------------- On June 8, 2026, Masa Oak, LLC commenced a voluntary Chapter 11 case in the Northern District of California Bankruptcy Court. Court records indicate the company has between $100,001 and $1 million in liabilities and between 1 and 49 creditors. A meeting of creditors under Section 341(a) to be held on July 13, 2026 at 01:00 PM via UST Teleconference Oakland, Call in number: 1-888-330-1716 Passcode: 8324431. Small Business Ch. 11 Plan Deadline Set for September 8, 2026 About Masa Oak, LLC Masa Oak, LLC is a limited liability company that owns and manages business assets and investments. The company operates as a privately held enterprise focused on preserving and maximizing asset value. The company filed for protection under Chapter 11 of the Bankruptcy Code (Case No. 26-41176) on June 8, 2026. The filing lists estimated assets ranging from $1 million to $10 million and estimated liabilities ranging from $100,001 to $1 million. The Debtor is represented by Beilal M. Chatila, Esq. of Law Office of Beilal Chatila. MASA OAK: Voluntary Chapter 11 Case Summary ------------------------------------------- Debtor: Masa Oak, LLC 1608 San Pablo Avenue Oakland, CA 94609 Business Description: Masa Oak, LLC is a single-asset real estate entity with principal assets located at 1608 San Pablo Avenue in Oakland, California. Chapter 11 Petition Date: June 8, 2026 Court: United States Bankruptcy Court Northern District of California Case No.: 26-41177 Debtor's Counsel: Beilal Chatila, Esq. CHATILA LAW, LLP 1410 48th Avenue San Francisco CA 94122 Tel: (888) 567-9990 Email: chatilalaw@gmail.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $500,000 to $1 million The petition was signed by Moshin Mosed Sharif as managing member. 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/CMT7ERI/Masa_Oak_LLC__canbke-26-41177__0001.0.pdf?mcid=tGE4TAMA MAST TRUCKING: Court OKs Vehicle Sale at Auction ------------------------------------------------ The U.S. Bankruptcy Court for the District of Kansas has permitted Mast Trucking Inc. to sell Vehicles at auction, free and clear of liens, claims, interests, and encumbrances. The Debtor owned several fleets including: 2016 Stoughton - 1DWIA5320GB699151 2016 Stoughton - 1DWIA5322GB699152 2016 Stoughton - 1DWIA5326GB699154 2016 Stoughton - 1DWIA5328GB699155 2016 Stoughton - 1DWIA5324GB699153 2017 Hyundai - 3H3VS32C1HT091006 2017 Hyundai - 3H3VS32C7HT091009 2017 Hyundai - 3H3VS32C3HT079021 2017 Hyundai - 3H3VS32C3HT091010 2017 Hyundai - 3H3VS32C8HT091004 2017 Hyundai - 3H3VS32C0HT079011 2017 Hyundai - 3H3VS32C3HT079018 2017 Hyundai - 3H3VS32C4HT079013 Each of the vehicle is subject to a properly perfected security interest of Dream First Bank. Dream First Bank has consented to a sale of the vehicles through auction and will provide lien releases on the titled vehicles sold so clear title can be transferred to the purchasers. The Debtor employed Taylor & Martin, LLC as its auctioneer. Taylor & Martin, LLC has an auction date in South Sioux City, NE on Thursday, June 25th. The next auction date at this location, one of the most convenient to the Debtor, is not for several months. Brochure advertising for the auction would be June 2nd, so the Auctioneer would want sufficient time to market the vehicles and ensure maximum recovery at auction. The Debtor proposed to first have the Auctioneer pay Dream First Bank from net sales proceeds through the full payoff of the obligation, with the remainder to be directed to the DIP account of the Debtor. The Court has authorized the Debtor to sell the Vehicles through auction. About Mast Trucking Inc. Mast Trucking Inc. is a transportation and logistics company based in Kansas, specializing in freight hauling and trucking services. Mast Trucking sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Kan. Case No. 26-20176) on February 10, 2026, with between $1 million and $10 million in both assets and liabilities. Honorable Bankruptcy Judge Dale L. Somers handles the case. The Debtor is represented by Ryan A. Blay, Esq., at Wm Law. MATTHEWS 350: Gets Interim OK to Use Cash Collateral Until July 28 ------------------------------------------------------------------ The U.S. Bankruptcy Court for the Northern District of Indiana granted Matthews 350 E LaSalle LLC and Commerce Center Development, LLC third interim approval to use cash collateral. Under the order, the Debtors are authorized to use cash collateral on an interim basis in accordance with their operating budget. This authority is set to expire on July 28, unless extended by agreement or further court order. As adequate protection, the court granted KeyBank National Association and other secured creditors replacement liens on the Debtors' post-petition assets, maintaining the same validity, extent, and priority as their pre-petition liens. In addition, the Debtors are required to make payments to KeyBank as outlined in the approved budget, further protecting creditor interests during the interim period. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/PCHkg from PacerMonitor.com. The final hearing is scheduled for July 22. Before the petition date, KeyBank issued a $33 million loan to Matthews, secured by a mortgage and a security agreement granting lien on all personal property, including potential cash collateral. Despite multiple refinancing attempts, Matthews and Commerce Center Development were unable to do so, largely due to a pending lawsuit by the South Bend Redevelopment Commission. They filed for bankruptcy to reorganize and sell Commerce Center Development's 144-unit multifamily property to repay KeyBank and investors. Matthews has a leasehold interest in the real estate under a 2019 ground lease with Commerce Center Development. KeyBank is represented by: Miranda Weiss Bernadac, Esq. Tuohy Bailey & Moore, LLP 9294 N Meridian Indianapolis, IN 46260 (317) 638-2400 mbernadac@tbmattorneys.com About Matthews 350 E LaSalle LLC Matthews 350 E LaSalle LLC, doing business as 300 E LaSalle and 300 East LaSalle, is a real estate company based in South Bend, Indiana. Matthews 350 E LaSalle LLC and Commerce Center Development, LLC filed their voluntary petitions for relief under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Ind. Lead Case No. 26-30288) on March 10, 2026. At the time of filing, Matthews 350 E LaSalle estimated up to $50,000 in assets and $10 million to $50 million in liabilities. Weston E. Overturf, Esq., at Kroger, Gardis & Regas, LLP serves as the Debtor's counsel. MAZEL ON DEL: Seeks Chapter 7 Bankruptcy in New York ---------------------------------------------------- On June 8, 2026, Mazel On Del LLC filed for Chapter 7 protection in the U.S. Bankruptcy Court for the Southern District of New York. According to court filings, the Debtor reports between $1 million and $10 million in debt owed to 1-49 creditors. Debtor Must File Summary of Assets and Liabilities and Statement of Financial Affairs by June 22, 2026. About Mazel On Del LLC Mazel On Del LLC is a privately held limited liability company engaged in business and investment activities, including the ownership and management of corporate assets. Mazel On Del LLC sought relief under Chapter 7 of the U.S. Bankruptcy Code (Bankr. Case No. 26-35604) on June 8, 2026. In its petition, the Debtor reports estimated assets of $1 million to $10 million and estimated liabilities of $1 million to $10 million. Honorable Bankruptcy Judge Kyu Young Paek handles the case. MCGEACHY HOLDINGS: Gets Interim OK to Use Cash Collateral --------------------------------------------------------- McGeachy Holdings, LLC received second interim approval from the U.S. Bankruptcy Court for the Eastern District of North Carolina, Fayetteville Division, to use cash collateral. Under the second interim order, the Debtor is authorized to use cash collateral to pay operating expenses in accordance with its budget. The Debtor may exceed an individual line item by up to 10% without prior approval. The Debtor's primary source of income is rental proceeds, which may constitute cash collateral because United Bank holds secured interests in the properties and associated rents through multiple loan agreements and deeds of trust. These loans, totaling over $1 million in original principal, are secured by various residential properties in Fayetteville. In addition to United Bank's secured claims, certain homeowners associations have recorded liens against specific properties for unpaid dues, and First Citizens Bank has obtained a judgment against the Debtor. As a result, multiple parties may have competing interests in the rental income generated by the properties. As protection, United Bank will be granted post-petition replacement liens on the same assets to which its liens attached pre-petition, with the same validity, priority and extent as existed on the petition date. The interim order remains in full force and effect until modification or termination of the order; entry of a subsequent interim or final cash collateral order; or the filing of a notice of default, whichever occurs first. The order is available at https://tinyurl.com/4fn78jzd from PacerMonitor.com. The next hearing is set for June 30. United Bank, as secured creditor, is represented by: James S. Livermon, III, Esq. Womble Bond Dickinson (US), LLP 555 Fayetteville Street, Suite 1100 Raleigh, NC 27601 Phone: (919) 755-2148 charlie.livermon@wbd-us.com About McGeachy Holdings LLC McGeachy Holdings, LLC is a North Carolina-based real estate company. McGeachy Holdings sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. N.C. Case No. 26-01995) on May 1, 2026, with up to $1 million in assets and up to $500,000 in liabilities. Donovan McGeachy, president and chief operating officer of McGeachy Holdings, signed the petition. Judge Joseph N. Callaway oversees the case. Laurie B. Biggs, Esq., at Biggs Law Firm, PLLC, represents the Debtor as bankruptcy counsel. MCKISSOCK INVESTMENT: Moody's Alters Outlook on B3 CFR to Negative ------------------------------------------------------------------ Moody's Ratings affirmed McKissock Investment Holdings, LLC's (Colibri) B3 Corporate Family Rating and B3-PD Probability of Default Rating. Concurrently, Moody's affirmed the B3 rating on the company's existing senior secured bank credit facility that consists of a $70 million revolver expiring March 2027 and $1.19 billion first lien term loan due March 2029. Moody's changed the outlook to negative from stable. The outlook change to negative reflects Colibri's weaker than expected operating performance, continued volatility in key end markets, and execution risk to achieve the sustained earnings improvement necessary to reduce the company's high leverage and increase its weak free cash flow. Credit metrics remain weak with Moody's adjusted debt-to-EBITDA leverage at 9.4x (10.5x after deducting content development costs) as of March 31, 2026. Moody's anticipates that debt-to-EBITDA leverage will decline through earnings growth but remain elevated at a mid-to-high 8.0x by 2027. High leverage, exposure to competitive end markets, soft demand in interest-rate sensitive segments, execution challenges in the healthcare business, and the need to invest to generate growth are contributing to limited free cash flow and constrain the company's ability to quickly deleverage. Moody's affirmed the ratings because the company is producing modest organic revenue and EBITDA growth despite mixed performance among its diversified businesses. Growth in accounting and financial services is mitigating declines in the healthcare and real estate segments. The company has the potential to translate growth investments, cost discipline and more effective marketing into revenue and earnings growth if it executes well. RATINGS RATIONALE The B3 CFR reflects Colibri's modest scale within a competitive and fragmented market for professional certification and continuing education services, very high leverage, and weak credit metrics, including limited free cash flow generation. The rating also incorporates execution risk across the company's business segments and continued variability in operating performance. Colibri maintains an established market position and has demonstrated the ability to grow both organically and through acquisitions. The company has expanded its presence beyond real estate and valuation and property services into healthcare, accounting, financial services, and teaching, which are generally less sensitive to economic cycles. Offerings in professional certification are largely non-discretionary, supported by licensing and CE requirements, which provides some resilience relative to discretionary education services. However, the benefits of diversification are being partially offset by weaker than expected performance in healthcare and continued softness in interest rate sensitive end markets. Moody's expects revenue growth in the low-single-digit range over the next year with continued pressure from execution challenges in healthcare, offset by some opportunities in this end market through upselling and cross selling, and by uneven performance across other end markets. While growth in accounting and certain financial services segments is supportive, continued weakness in real estate are likely to limit overall growth. Although cost initiatives and lower integration expenses may support margins, the pace and consistency of improvement remain uncertain. Free cash flow will also benefit from the completion of final payments related to earnouts from the company's 2023 acquisitions, which will reduce cash outflows going forward. As a result, Moody's expects only modest earnings growth, with free cash flow remaining constrained and approximately break-even, which will limit the pace of deleveraging and keep leverage elevated over the next year. Investment in digital offerings remains important as customers increasingly prioritize platform capabilities and user experience. The rise of generative AI presents both opportunities and risks. While AI may enable operating efficiencies and support product development, it may also lower barriers to entry and intensify competition, particularly in verticals where content can be standardized. Colibri's focus on regulated certification based education and its track record of service effectiveness provide some degree of insulation, although continued investment in digital innovation and content differentiation will be important to sustain its competitive position. At the same time, Colibri has opportunities to improve operating efficiency through the use of technology, including AI. Event risk remains elevated. The latest acquisitions (Simple Nursing and TRC) were partially funded with payment in kind preferred and convertible instruments, which creates the potential for refinancing with lower cost debt. The preferred stock is also held by third parties that have a priority equity claim ahead of Gridiron Capital's common equity and there is a high PIK rate on one class of preferred stock. As a result, Moody's believes any sponsor support would likely need to be provided through debt or preferred stock since injecting additional common equity may not be economical. Colibri's liquidity is weak because of low projected free cash flow and the March 2027 expiration of the revolver. The company's approximate $6 million of balance sheet cash as of March 31, 2026, and full availability under its $70 million revolving credit facility provide capacity to fund operations and debt service in the interim, but because Moody's expects some seasonal reliance on the revolver the expiration is constraining liquidity. Free cash flow has been negative in each of the last four years and was negative $15 million in the last 12 month period ended March 2026. Moody's expects some free cash flow improvement to roughly break even to less than $10 million positive over the next 12 months, but this will be insufficient to fully cover the $11.6 million of annual term loan amortization and is expected to require modest revolver borrowings. The revolving credit facility is subject to a springing first lien net leverage covenant of 8x when utilization exceeds 35%. There is potential for the covenant to temporarily spring into effect over the next 12 months, although Moody's believes the company will have adequate cushion at that time. The first lien term loan does not have any financial maintenance covenants. Moody's anticipates in the B3 CFR that the company will address the revolver maturity, but liquidity will weaken if it does not proactively extend the facility. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS The ratings could be upgraded if Colibri delivers sustained revenue and earnings growth, sustains free cash flow-to-debt above 5% and sustains debt-to-EBITDA below 6.5x. The company would also need to maintain a more conservative financial policy consistent with maintaining credit metrics at the aforementioned levels. The ratings could be downgraded if revenue and earnings do not improve due to factors such as lower volume, customer losses, or higher costs, EBITA-to-interest expense is below 1x, or the company generates weak or negative free cash flow. A deterioration in liquidity including increasing revolver usage or failure to proactively address the revolver maturities could also lead to a downgrade. The principal methodology used in these ratings was Business and Consumer Services published in February 2026. The net effect of any adjustments applied to rating factor scores or scorecard outputs under the primary methodology(ies), if any, was not material to the ratings addressed in this announcement. McKissock Investment Holdings, LLC (Colibri, headquartered in St. Louis, Missouri) is a provider of professional education solutions across six core end markets including accounting, real estate, financial services, healthcare, valuation & property services (VPS) and teaching. The solutions support continuing education (CE) and qualifying education (QE) required for professionals to pursue and maintain their licenses. The company operates a portfolio of 20+ brands that span business-to-business (B2B) and business-to-consumer (B2C) services. Colibri was acquired by a private equity firm Gridiron Capital in May 2019. The company was a pioneer of online professional education, introducing some of the first online-based professional education courses in 2001. Revenue for the last 12 months ended March 31, 2026 were approximately $481 million. METALWORKING LUBRICANTS: Case Summary & 20 Unsecured Creditors -------------------------------------------------------------- Debtor: Metalworking Lubricants Company 25 W. Silverdome Industrial Parkway Pontiac, MI 48342 Business Description: Metalworking Lubricants Company is a manufacturer and marketer of lubricant-related products with operations in Pontiac, Michigan and Indianapolis, Indiana. The company designs, manufactures, and markets products including cutting oils, industrial oils, greases, lubricants, cleaners, quenching fluids, and rust inhibitors. Its Pontiac facility houses corporate headquarters, laboratory operations for research, development, and quality control, and finished product blending operations. The Indianapolis facility conducts TSDF-related operations including waste oil processing, waste water treatment, and finished product blending. Chapter 11 Petition Date: June 5, 2026 Court: United States Bankruptcy Court Eastern District of Michigan Case No.: 26-46501 Judge: Hon. Lisa S Gretchko Debtor's Counsel: Mark H. Shapiro, Esq. STEINBERG SHAPIRO & CLARK 25925 Telegraph Road Ste 203 Southfield MI 48033 Tel: (248) 352-4700 Email: shapiro@ssc-law.com Total Assets: $6,094,715 Total Liabilities: $7,496,898 The petition was signed by Keith Johnson as co-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/SZBYDLI/Metalworking_Lubricants_Company__miebke-26-46501__0001.0.pdf?mcid=tGE4TAMA MISS AMERICA: Judge Orders $2.2MM Penalty in $500MM Case -------------------------------------------------------- Carolina Bolado of Law360 Bankruptcy Authority reports that a judge has imposed $2.2 million in sanctions against a Florida entrepreneur and his lawyer after finding they relied on fraudulent documents in a high-profile $500 million battle over ownership rights tied to the Miss America organization. The court ruled that the conduct warranted significant financial penalties. The dispute centered on competing claims to assets and intellectual property connected to the well-known pageant brand. During the case, questions emerged regarding the authenticity of documents submitted to support the businessman’s ownership assertions. After reviewing the evidence, the court determined that sanctions were appropriate, the report cites. The judge said the integrity of the legal system depends on truthful and accurate submissions and that parties who present false evidence must face consequences. The ruling represents a major setback for the businessman’s claims and could influence the direction of the broader litigation. About Miss America Competition LLC Miss America Competition LLC is an annual competition open to women from the United States between the ages of 18 and 28. The competition's inception as a "bathing beauty review" was an act of rebellion during a time when women weren't permitted to wear swimsuits in public. In 1945, the organization started awarding scholarships to the winner instead of prize money, making Miss America one of the first organizations in the United States to offer college scholarships to women. Miss America Competition LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 24-22288) on November 22, 2024. In the petition filed by Glenn Straub, as sole member and manager, the Debtor reports estimated assets between $500,000 and $1 million and estimated liabilities between $1 million and $10 million. Honorable Bankruptcy Judge Erik P. Kimball handles the case. The Debtor is represented by Craig I. Kelley, Esq., at KELLEY KAPLAN & ELLER, PLLC, in West Palm Beach, Florida. MIYOSHI AMERICA: Committee Hires Caplin & Drysdale as Counsel ------------------------------------------------------------- The official committee of unsecured creditors of Miyoshi America, Inc. seeks approval from the U.S. Bankruptcy Court for the Southern District of Texas to employ Caplin & Drysdale, Chartered as counsel. The firm's services include: a. preparing on behalf of the Committee all necessary motions, applications, pleadings, memoranda, proposed orders, reports, and other legal documents; b. assisting and advising the Committee with respect to its powers and duties as a creditors' committee under the Bankruptcy Code; c. attending meetings and negotiating with representatives of the Debtor, any of its insurance carriers, and other parties in interest in this Case; d. representing the Committee before this Court and any appellate courts, and communicating with the Committee regarding the matters heard and issues raised, as well as the decisions and directives of this Court and any appellate courts; e. representing the Committee in actions to protect, preserve, and/or maximize the value of the Debtor's estate, including the prosecution of actions on behalf of the estate and negotiations concerning all litigation in which the Committee may be involved; f. assisting and advising the Committee in its examination and analysis of the Debtor's conduct and financial affairs; g. representing the Committee in connection with any negotiation or preparation of a chapter 11 plan and all related documents; h. assisting the Committee in the filing with the Court, and the solicitation of acceptances or rejections, of any chapter 11 plan of which the Committee is a proponent; i. reviewing and analyzing all applications, motions, orders, operating reports, schedules, and statements of financial affairs filed and to be filed with this Court by the Debtor or any interested party in this Case; advising the Committee as to the necessity and propriety of the foregoing and their impact on the rights of creditors represented by the Committee and on the Case generally; and after consultation with and approval of the Committee or its designee(s), consenting to appropriate orders on its behalf or otherwise objecting thereto; j. coordinating the receipt and dissemination of information prepared by and received from the Debtor's accountants or other professionals retained by the Debtor, as well as such information as may be received from professionals engaged by the Committee or other parties, as applicable; k. assisting and advising the Committee with regard to communications to creditors represented by the Committee regarding the Committee's efforts, progress, and recommendations with respect to matters arising in this Case as well as any proposed chapter 11 plan; and l. performing all other necessary legal services and providing all other necessary legal advice to the Committee in connection with this Case. The firm will be paid at these rates: Kevin C. Maclay, Member $2,175 per hour Jeffrey A. Liesemer, Member $1,700 per hour James P. Wehner, Member $1,700 per hour Todd E. Phillips, Member $1,625 per hour Q. Monty Crawford, Member $1,325 per hour Kevin M. Davis, Member $1,235 per hour Serafina A. Concannon, Member $1,190 per hour Katelin C. Zendeh, Member $900 per hour Ann C. McMillan, Senior Counsel $1,295 per hour Jeanna M. Rickards Koski, Of Counsel $1,080 per hour Nathaniel R. Miller, Of Counsel $915 per hour Lucas H. Self, Of Counsel $915 per hour Shahriar M. Raafi, Of Counsel $860 per hour Wendy J. Barnett, Associate $810 per hour Allegra N. Kauffman, Associate $755 per hour Allison M. Scoggin, Associate $710 per hour Jack D. Solano, Associate $710 per hour Matthew E. Beckerman, Associate $625 per hour Ariel K. Hayes, Associate $625 per hour Alec G. Schwartz, Associate $625 per hour Olivia H. Rosenzweig, Associate $595 per hour Cecilia Guerrero, Senior Paralegal $675 per hour Jessica A. Giglio, Senior Paralegal $675 per hour Rachael L. Davis, Paralegal $595 per hour Members and Senior Counsel $790 to $2,175 per hour Of Counsel $775 to $1,725 per hour Associates $480 to $810 per hour Paralegals $400 to $675 per hour The firm received a retainer in the amount of $150,000. During the 90 days prior to the Petition Date, the Debtor paid Caplin & Drysdale $597,572.31, including (i) replenishing the retainer in the aggregate amount of $308,295.50 and (ii) applying payments directly against invoices in the aggregate amount of $289,276.81. In addition, the firm will seek reimbursement for its out-of-pocket expenses. The following is provided in response to the request for additional information set forth in Paragraph D.1. of the U.S. Trustee Guidelines: Question: Did you agree to any variations from, or alternatives to, your standard or customary billing arrangements for this engagement? Response: No. Question: Do any of the professionals included in this engagement vary their rate based on the geographic location of the bankruptcy case? Response: No. Question: If you represented the client in the 12 months prepetition, disclose your billing rates and material financial terms for the prepetition engagement, including any adjustments during the 12 months prepetition. If your billing rates and material financial terms have changed postpetition, explain the difference and the reasons for the difference. Response: Caplin & Drysdale has not represented the Committee in the 12 months preceding the Petition Date. Question: Has your client approved your prospective budget and staffing plan, and, if so for what budget period? Response: Caplin is developing a prospective budget and staffing plan, which it will share with the Committee. Caplin & Drysdale is a "disinterested person" under Secs. 101(14) and 328(c) of the Bankruptcy Code, according to court filings. The firm can be reached through: Kevin C. Maclay, Esq. Caplin & Drysdale, Chartered 1200 New Hampshire Avenue NW, 8th Floor Washington, DC 20036 Phone: (202) 862-7841 Email: kmaclay@capdale.com About Miyoshi America Inc. Miyoshi America Inc. is a U.S.-based supplier of advanced materials used in cosmetics and personal care products. The company specializes in engineered powders and treated pigments designed to improve product feel, durability, and visual performance. Miyoshi America Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 26-90522) on April 27, 2026. In its petition, the Debtor reports estimated assets and liabilities between $10 million and $50 million each. Honorable Bankruptcy Judge Christopher M. Lopez handles the case. The Debtor tapped Charles Stephen Kelley, Esq., at Mayer Brown LLP as counsel and Stretto, Inc. as claims, noticing, and solicitation agent. MORA OAK: Court Extends Cash Collateral Access to July 6 -------------------------------------------------------- Mora Oak Park, LLC received another extension from the U.S. Bankruptcy Court for the Northern District of Illinois, Eastern Division, to use cash collateral. Under the fifth interim order, the court authorized the Debtor to use cash collateral through July 6 to pay expenses in accordance with its budget. This authorization terminates if the Debtor's Chapter 11 case is dismissed or if the court orders the use of cash collateral to stop. The Debtor projects total operational expenses of $36,360 for June. The Debtor listed the U.S. Small Business Administration as a primary secured creditor with a lien on its assets. As protection for any use or diminution in the value of its interests in the Debtor's pre-bankruptcy assets, the SBA will be granted replacement liens on all post-petition property of the Debtor, including cash collateral, with the same validity, priority and extent as its pre-petition lien. Additionally, the SBA will receive a monthly payment of $245. The order is available at https://shorturl.at/CLoDq The final hearing is set for June 26. Mora Oak Park, LLC operates a restaurant, which generates approximately $850,000 in annual revenue and employs 15 to 20 staff members. About Mora Oak Park LLC Mora Oak Park, LLC operates an upscale Japanese restaurant in Oak Park, Illinois. Mora Oak Park filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. N.D. Ill. Case No. 26-03137) on February 23, 2026. In the petition signed by Christine M Cancel, managing member, the Debtor disclosed up to $50,000 in assets and up to $500,000 in liabilities. Judge Nancy A. Peterman oversees the case. David R. Herzog, Esq., at the Law Office Of David R. Herzog, LLC, and Tang & Associates Law Office, LLC serve as the Debtor's bankruptcy counsel. Matthew Brash of Newpoint Advisors Corporation serves as Subchapter V trustee for the Debtor. MULBERRY ROW: Fannie Mae Wants Tarantino's Thomas as Receiver ------------------------------------------------------------- Federal National Mortgage Association, aka Fannie Mae, filed a motion with the U.S. District Court for the Eastern District of Michigan, Southern Division, seeking the appointment of Tarantino Properties, Inc.'s Salvatore A. Thomas as receiver for Mulberry Row Apartments LLC. Fannie Mae contends that appointing a receiver is necessary to manage and control certain real and personal property (and proceeds from that property), specifically, the multi-tenant building located at 2706 Packard Road, Ann Arbor, MI 48108. Plaintiff holds a mortgage on the Property in the amount of at least approximately $2,733,114.33. Defendant Mulberry Row Apartments LLC is the borrower. Borrower has defaulted under the Loan Documents by, among other defaults, failing to maintain the Property in good repair and marketable condition, as required in accordance with the Loan Documents and failing to commence and diligently pursue to completion certain Required Repairs and Required Replacements, as required in accordance with the Loan Documents. Borrower has also failed to provide Fannie Mae and Servicer a written report as to the status of the Required Repairs and the Required Replacements and Borrower's proposed plan for prompt completion of the Required Repairs and the Required Replacements. Borrower has also defaulted under the Loan Documents by failing to comply with all laws, ordinances, statutes, rules and regulations regarding the Property. Fannie Mae has become aware that the City of Ann Arbor has issued a Dangerous Building Notice of Violation and a Ticket Notice (Ticket #W282620) to Borrower due to the conditions of the Property as a result of a fire. Borrower is also in default for failing to provide annual financial information to Fannie Mae for 2023, 2024, and the first half of 2025. Borrower continues to control the Property but has failed to make the required repairs and required replacements, failed to maintain the Property, failed to comply with all laws, ordinances, statutes, rules, and regulations regarding the Property, and has allowed an unauthorized Transfer. A preliminary injunction appointing a receiver should be issued to protect Plaintiff's interest in the Property and income therefrom. Fannie Mae contends Fed. R. Civ. P. 65 authorizes this Court to enter an order granting the relief requested. Moreover, Borrower agreed in the Loan Documents to the appointment of a receiver under the circumstances present here, including on an exparte basis, and so Borrower cannot effectively oppose it now. Plaintiff is also entitled to the appointment of a receiver under Michigan law. Counsel for Fannie Mae contacted counsel for Borrower on May 19, 2026, and explained that Fannie Mae would be seeking a receiver to operate the Property and has requested that Borrower consent to the appointment of a receiver. As of the filing of the Motion, Borrower's counsel has not responded to this request, although Borrower did expressly consent in the Loan Documents to the appointment of a receiver in these circumstances. Accordingly, Plaintiff requests that this Court immediately enter a temporary restraining order which provides for: (i) the appointment of Salvatore A. Thomas of Tarantino Properties, Inc., as receiver, with all of the powers and duties prescribed by law and the Order; (ii) protecting Fannie Mae's interest in the Property and income therefrom from dissipation by Defendant; and (iii) scheduling a hearing on Fannie Mae's Motion for Preliminary Injunction. On Sept. 6, 2008, pursuant to the Housing and Economic Recovery Act (HERA), the Director of the Federal Housing Finance Agency (FHFA) placed Fannie Mae into conservatorship. As Conservator, FHFA succeeded to all of Fannie Mae's rights, titles, powers, privileges, and assets. FHFA has represented to Fannie Mae that FHFA supports the appointment of a receiver on the terms outlined in the proposed Order accompanying Fannie Mae's Motion. However, FHFA reserved its rights as to any other or different terms for the appointment of a receiver that have not been approved explicitly by FHFA in advance. Mulberry Row Apartments LLC is the mortgagor for the Property. Borrower and/or its agent are currently in complete control of the Property. Plaintiff seeks to have this Court appoint a neutral third-party professional who is experienced in operating properties in these circumstances, to operate the Property and protect it because Borrower is currently not able to do so. Furthermore, in August 2025, Fannie Mae conducted a property inspection and discovered additional Events of Default and substantial property condition issues. Specifically, the conditions of the Property revealed significant deferred maintenance, severe deterioration of asphalt pavement, scattered areas of severe exterior façade, fascia, and soffit damage, suspected water infiltration, and an overall Property condition of unacceptable condition. Borrower is still in control of the Property. If a receiver is not appointed to manage the Property, Borrower may dissipate the rents and income from the Property. Plaintiff requests that Salvatore A. Thomas of Tarantino Properties, Inc. be appointed as the receiver in this case. Mr. Thomas has acted as the authorized agent for the receiver for numerous distressed properties throughout the nation and in Michigan, including before this Court. On November 30, 2022, ORIX Real Estate Capital, LLC d/b/a Lument Capital made a loan to Borrower in the amount of $2,818,000. The Loan is evidenced by a note and secured by a mortgage, and Borrower has defaulted on the Loan. The subject real estate securing the Loan is a 120-unit multi-tenant building in Ann Arbor, Michigan. Fannie Mae notes Borrower expressly consented in the mortgage to the ex parte appointment of a receiver by the court in the event of default. To secure repayment of the indebtedness and performance of all covenants and conditions contained therein, Borrower also executed the Mortgage, which was duly recorded in the Washtenaw County Register of Deeds on December 2, 2022. Borrower also assigned to Original Lender all of Borrower's right, title, and interest in and to all rents, issues, and profits that may arise or be had from the Property, and other property rights, interests, and estates as more particularly set out in the Mortgage. The Mortgage further states that as part of the consideration for the Indebtedness, Borrower absolutely and unconditionally assigns and transfers to Lender all Leases and Rents. Borrower intends to establish present absolute and irrevocable transfers and assignments to Lender of all Leases and Rents and to authorize and empower Lender to collect and receive all Rents without the necessity of further action on the part of Borrower. Fannie Mae believes that numerous of the Required Repairs were not completed, including designating ADA-compliant parking spaces, ensuring ADA-accessible access to the leasing office, repair of the asphalt pavement in the parking area, repair of the play area fencing and replacement of the play area equipment, renovations of downed units due to fire damage, and resurfacing of the sports area. As a result, on March 31, 2026, Fannie Mae sent a Notice of Additional Default, Acceleration and Demand for PCA Deposit informing Borrower of its continuing failure to make the Required Repairs and of the additional needed repairs and making demand for a deposit of $827,325.00 into the Replacement Reserve Account/Repairs Escrow Account. The unpaid principal balance as of April 10, 2026, is approximately $2,733,114.33, and note rate interest has accrued on said unpaid principal for $160,442.19 through April 10, 2026, and default rate interest has accrued on said unpaid principal of $98,088.44 through April 10, 2026. The total amount due as principal and interest, along with reserves, late fees, attorney fees and costs, and other charges, is $2,452,541.04, subject to any setoffs for reserve funds. Borrower expressly consented in the Mortgage to the appointment of a receiver upon an Event of Default, which is defined in the Loan Agreement to include any failure by Borrower to complete any Repair related to fire, life, or safety issues in accordance with the terms of the Loan Agreement. Upon an event of default, the Mortgage and Loan Documents provide Plaintiff with numerous non-exclusive remedies to protect its interest in the Property. Plaintiff may, among other things, apply for the appointment of a receiver (without notice and without regard to Borrower’s solvency), and/or enforce Plaintiff's interest in the leases and rents from the Property. Michigan law expressly permits the appointment of a receiver. Michigan courts have recognized the need for the appointment of receivers to protect property. Judges in the exercise of their equitable powers, may appoint receivers in all pending cases where appointment is allowed by law. Furthermore, the Michigan Receivership Act expressly grants Michigan courts the authority to appoint a receiver when necessary to protect the property from waste and loss, and when the mortgagor has agreed in a signed record to the appointment of a receiver. About Mulberry Row Apartments LLC Mulberry Row Apartments LLC owns a 120-unit multi-tenant building located at 2706 Packard Road, Ann Arbor, MI 48108. Mulberry is facing a receivership case captioned as Federal National Mortgage Association v. Mulberry Row Apartments LLC, Case No. 2:26-cv-11756 (E.D. Mich.), before the Hon. Jonathan J.C. Grey. The case was filed on May 29, 2026. Fannie Mae alleges that Mulberry Row has defaulted on its obligations under the note, mortgage, and other loan documents evidencing and/or securing a $2,733,114.33 loan, originally provided on Nov. 30, 2022, by ORIX Real Estate Capital, LLC d/b/a Lument Capital. Attorneys for Fannie Mae are: Ann Marie Uetz, Esq. Tamar N. Dolcourt, Esq. FOLEY & LARDNER LLP 500 Woodward Avenue, Suite 2700 Detroit, MI 48226 Tel: (313) 234-7175 E-mail: auetz@foley.com tdolcourt@foley.com - and - Jill Nicholson, Esq. Shannon Shin, Esq. DENTONS US LLP 233 S. Wacker Drive #5900 Chicago, IL 60606 Tel: (312) 876-8000 E-mail: jill.nicholson@dentons.com shannon.shin@dentons.com MY CAR WASH: Gets Extension to Access Cash Collateral ----------------------------------------------------- My Car Wash, LLC received another extension from the U.S. Bankruptcy Court for the Middle District of Florida, Jacksonville Division, to use the cash collateral of First Bank of the Lake. The court authorized the Debtor's continued use of cash collateral under its latest budget, which projects $35,809.72 in total expenses. This interim authorization remains in effect until further court order. The Debtor has previously operated under three cash collateral orders since filing for Chapter 11 protection on January 15. The Debtor believes First Bank of the Lake, which is owed $4,966,795.33, will claim a security interest in the cash collateral based on a UCC-1 financing statement it filed in 2021. As adequate protection, the fourth interim order granted the bank and other secured creditors with a security interest in cash collateral automatically perfected post-petition replacement liens on cash collateral, maintaining the same validity and priority as their pre-petition liens. Additional safeguards include maintaining insurance coverage on the collateral, granting secured creditors access to the Debtor's records and premises, and complying with all debtor-in-possession obligations. The fourth interim order is available at http://bankrupt.com/misc/MyCarWash_4ICCOrder.pdf The next hearing is scheduled for July 14. First Bank of the Lake is represented by: Ian S. MacDonald, Esq. Clark Partington 215 S. Monroe Street, Suite 530 Tallahassee, FL 32301 Telephone: (850) 320-6825 Fax: (850) 597-7591 imacdonald@clarkpartington.com hrice@clarkpartington.com bgilman@clarkpartington.com About My Car Wash, LLC My Car Wash, LLC, a company based in Belleview, Florida, operates a commercial car wash offering full-service and automated cleaning to individual and fleet customers at its single location on South Highway 441. My Car Wash sought protection under Chapter 11 of the Bankruptcy Code (Bankr. M.D. Fla. Case No. 3:26-bk-00161) on January 15, 2026. At the time of the filing, the Debtor had estimated assets of between $1,000,001 and $10 million and liabilities of between $1,000,001 and $10 million. . Mark S. Roher, P.A. also known as The Law Office of Mark S. Roher, P.A. is the Debtor's bankruptcy counsel. NB ELEMENT: Seeks to Hire Robinson & Cole LLP as Counsel -------------------------------------------------------- NB Element, DST seeks approval from the U.S. Bankruptcy Court for the Eastern District of California to employ Robinson & Cole LLP as counsel. The firm's services include: a. advising the Debtor of its rights, powers, and duties as a debtor and debtor in possession under chapter 11 of the Bankruptcy Code; b. preparing on behalf of the Debtor motions, applications, answers, orders, reports, and papers in connection with the administration of the Debtor's estate; c. taking action to protect and preserve the Debtor's estate, including the prosecution of actions on the Debtor's behalf, the defense of actions commenced against the Debtor in the Chapter 11 Case, the negotiation of disputes in which the Debtor is involved, and the preparation of objections to claims filed against the Debtor; d. assisting with any sale or sales of assets, including preparing any necessary motions and papers related thereto; e. assisting in preparing the Debtor's disclosure statement and any related motions, pleadings, or other documents necessary to solicit votes on a chapter 11 plan; f. assisting in preparing a chapter 11 plan; g. prosecuting on behalf of the Debtor a proposed chapter 11 plan and seeking approval of all transactions contemplated therein and in any amendments thereto; and h. performing all other necessary and desirable legal services in connection with the Chapter 11 Case. The firm will be paid at these rates: Jamie L. Edmonson, Partner $1400 per hour Amanda P. Donato, Associate $525 per hour Alyssa J. Merkey, Paralegal $540 per hour Partners/Counsel $1,075 to $2,200 per hour Associates $450 to $760 per hour Paralegals $425 to $540 per hour In addition, the firm will seek reimbursement for its out-of-pocket expenses. Mr. Edmonson disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Jamie L. Edmonson, Esq. Robinson & Cole, LLP 1201 N. Market Street, Suite 1406 Wilmington, DE 19801 Tel: (302) 516-1700 Email: jedmonson@rc.com About NB Element, DTS NB Element, DTS is a business entity that may operate in the industrial, materials, or specialty manufacturing sector, potentially focusing on advanced components or engineered products. NB Element sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del., Case No. 26-10502) on April 7, 2026. In its petition, the Debtor reported estimated assets of $50 million to $100 million and estimated liabilities of $50 million to $$100 million. The Debtor is represented by Jamie Lynne Edmonson, Esq., Robinson & Cole LLP. NEW HOPE: Seeks to Employ FTI Consulting as Financial Advisor ------------------------------------------------------------- New Hope Housing, Inc. seeks approval from the U.S. Bankruptcy Court for the Eastern District of Virginia to hire FTI Consulting, Inc. to serve as financial advisor. The firm will provide these services: (a) assistance to the Debtor in the preparation of financial related disclosures required by the Court, including the Schedules of Assets and Liabilities, the Statement of Financial Affairs and Monthly Operating Reports; (b) analysis of creditor claims by type, entity and individual claim, including assistance with development of databases, as necessary, to track such claims; (c) render such other general business consulting or assistance as Debtor's management or counsel may deem necessary that are consistent with the role of a financial advisor and not duplicative of services provided by other professionals in this proceeding; (d) assist in preparation of Bankruptcy Statements and Schedules; (e) assist in preparation of Monthly Operating Reports; and (f) assist in claims reconciliation. FTI Consulting, Inc. will provide services to the Debtor on a pro bono basis, and there will not be any fees associated with this engagement. If any expenses arise, FTI will only incur such expenses with approval of the Debtor. FTI is not owed any pre-petition fees or expenses. FTI Consulting, Inc. is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code, according to court filings. The firm can be reached at: Narendra Ganti, Managing Director FTI CONSULTING, INC. 8251 Greensboro Drive McLean, VA 22102 Telephone: (202) 262-4778 E-mail: narendra.ganti@fticonsulting.com About New Hope Housing Inc. New Hope Housing, Inc. is a non-profit agency based in Alexandria, Virginia. Founded in 1977, the organization has provided services to homeless families and single adults since 1978. It offers housing programs and support services in Northern Virginia, including group homes, Housing First apartments, homeless prevention and rapid re-housing, education and employment support, and mobile medical outreach. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Va. Case No. 26-11054) on May 1, 2026, with $1 million to $10 million in assets and liabilities. Ann Barrett, executive director, signed the petition. Judge Brian F Kenney oversees the case. Brittany B. Falabella, Esq. at HIRSCHLER FLEISCHER, P.C. represents the Debtor as legal counsel. NEWBURY POWER: Seeks to Sell Bridgeville Property at Auction ------------------------------------------------------------ Newbury Power Center A-1, L.P. seeks permission from the U.S. Bankruptcy Court for the Western District of Pennsylvania, to sell Property at auction, free and clear of liens, claims, interests, and encumbrances. The Debtor's Property is comprised of approximately 6 acres of development-ready vacant land located at the center of Bridgeville, Pennsylvania's commercial district more specifically identified as Vacant Land, Presto Sygan Road, Bridgeville, Allegheny County, Pennsylvania. The Property is subject to an open-end mortgage in favor of Fund Investment 154, LLC and a ground lease with Beazer East Inc. The Debtor is confident a sale of the Property can occur and that a sale through the Chapter 11 Case will maximize the value of the Property for all parties in interest, including Fund. A competitive sale through a bankruptcy proceeding will ensure a greater return as compared to a sale pursuant to a judicial foreclosure. The Debtor seeks the Court's approval of procedures for bidding for and sale of the Property. The Bidding Procedures were designed with the objective of generating the greatest level of interest in, and highest or best value for, the Property while affording the Debtor maximum flexibility to execute a Transaction as quickly and efficiently as possible. To optimally and expeditiously solicit, receive, and evaluate bids in a fair and accessible manner, the Debtor has developed and proposed the Bidding Procedures to govern the Auction process. The Deadline for Potential Bidders to submit binding Bids is on July 3, 2026. The Auction is on July 14, 2026, at 9 a.m. (ET). The Sale Hearing is on July 30, 2026, at 10 a.m. (ET). The Debtor submits that the Bidding Procedures provide for an orderly, uniform, and competitive process through which interested parties may submit offers to purchase the Property. About Newbury Power Center A-1 Newbury Power Center A-1, LP's primary holding is a residential property located at 1263 Newbury Highland in Bridgeville, Pennsylvania. Newbury Power Center A-1 sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Pa. Case No. 26-20022) on January 4, 2026. At the time of the filing, the Debtor listed up to $10 million in both assets and liabilities. Brett A. Malky, managing member, signed the petition. Judge Gregory L. Taddonio oversees the case. The Debtor tapped Paul J. Cordaro, Esq., at Campbell & Levine, LLC as counsel. NIED OWNERSHIP: Wins Bid to Shorten Chapter 11 Plan Notice Periods ------------------------------------------------------------------ Judge Tiffany P. Geyer of the U.S. Bankruptcy Court for the Middle District of Florida granted the ore tenus motion by Nied Ownership LLC for entry of an order shortening certain notice periods required under Federal Rule of Bankruptcy Procedure 2002 in connection with confirmation of the Debtor's Chapter 11 plan. The Court has scheduled a hearing for July 2, 2026, at 10:00 a.m. to consider final approval of the Disclosure Statement and confirmation of the Chapter 11 Plan of Reorganization. All applicable notice periods under Federal Rules of Bankruptcy Procedure 2002(b), 2002(f)(2), and 3017(d) with respect to confirmation of the Plan, including without limitation notice of: (a) the Confirmation Hearing; (b) deadlines for filing objections to final approval of the Disclosure Statement and confirmation of the Plan; (c) deadlines for voting on the Plan, and (d) other related notice periods are shortened as necessary. A copy of the Court's Order dated June 10, 2026, is available at https://urlcurt.com/u?l=xymX5h from PacerMonitor.com. About Nied Ownership LLC Nied Ownership LLC is a holding company involved in large-scale ownership and management of investment and business assets. The company oversees operational and financial interests tied to its portfolio holdings and related ventures. Nied Ownership LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-03232) on May 1, 2026. In its petition, the Debtor reports estimated assets between $500 million and $1 billion and estimated liabilities between $100 million and $500 million. Honorable Bankruptcy Judge Tiffany P. Geyer handles the case. The Debtor is represented by Amy Denton Mayer, Esq., of Berger Singerman LLP. OLD REDFORD ACADEMY: S&P Lowers ICR to 'CC', Outlook Negative ------------------------------------------------------------- S&P Global Ratings lowered its rating six notches to 'CC' from 'B+' on the Michigan Public Educational Facilities Authority's series 2005A limited obligation revenue bonds and the Michigan Finance Authority's series 2010A limited obligation revenue bonds, both issued for Old Redford Academy (ORA; the charter school operator). At the same time, S&P removed the ratings from CreditWatch, where they had been placed with negative implications April 21, 2026. The outlook is negative. The lowered rating and negative outlook reflect the authorizer's recent decision to not renew the charter contract for all three of ORA's schools, with official closure of the schools on June 30, 2026. S&P said, "Although June 1, 2026, debt service payments were paid in full, we expect a payment default on Dec. 1, 2026, or a debt restructuring to occur based on the school and the foundation's current liquidity position, coupled with the expected school closings. According to our S&P Global Ratings Definitions, Dec. 16, 2025, if a payment is missed on its due date or if an obligated rating is in breach of an imputed promise, we would assign a rating of 'D' (default)." S&P said, "The negative outlook reflects our view that there is a high likelihood of default or ORA's intent to restructure the debt within the next 12 months of an issue based on the school closures and financial position of the foundation and school. In accordance with our methodology on timeliness of payments, if a payment is missed on its due date or if an obligated rating is in breach of an imputed promise, we would assign a rating of 'D'. "We would lower the rating to 'D' if ORA misses or delays a debt service payment. In accordance with our criteria, we would also lower the rating to 'D' in the event of a bond restructuring. "We could raise the rating or revise the outlook to stable if we receive information regarding the school's ability to make all bond payments on a full and timely basis for at least the next 12 months, with expectations that future bond payments would be made." OLENOX INDUSTRIES: Delivers May Bitcoin Production Highlights ------------------------------------------------------------- Olenox Industries Inc. reported Bitcoin production for the month of May 2026 from the operations of CS Digital Ventures, LLC, which the Company acquired on May 28, 2026. This is the Company's first monthly operating update as a combined, energy-led digital infrastructure platform. May 2026 Production Highlights* -- Bitcoin mined: approximately 18.6 BTC credited to the Company's mining pool accounts during May 1–31, 2026. -- Average operational hashrate: approximately 1.30 EH/s realized across the Company's mining pool accounts during the period. -- Fleet utilization: realized hashrate represented approximately 81% of the fleet's economic capacity during the period, reflecting planned summer curtailment, low-power-mode operation and normal equipment availability. -- Installed fleet: 9,584 current-generation S21-class ASIC miners representing approximately 35 MW of installed capacity (approximately 2.19 EH/s nameplate) at a blended hardware efficiency of approximately 16 J/TH. *Production figures are preliminary, unaudited, and subject to final operational and financial review. Reported production reflects Bitcoin credited to the Company's pool accounts, before settlement of hosting profit-share amounts described below, and is shown net of mining-pool fees. The May production reported herein was generated at third-party hosting facilities drawing power from the ERCOT grid. The Company's strategy of converting Olenox's natural gas into compute at the point of generation, including the targeted sub-$0.02 per kWh power cost, describes the combined platform's forward plan and is not reflected in the current period's results. The Company expects to provide monthly production updates in the early part of each month, consistent with industry practice among Bitcoin mining operators. About Olenox Industries Olenox Industries Inc. formerly Safe & Green Holdings Corp. is an industrial holding company focused on acquiring, operating, and scaling businesses that provide engineered solutions across industrial, energy, and infrastructure markets. Through its subsidiaries, including Giant Containers, the Company delivers high-quality modular and containerized systems designed for rapid deployment and long-term performance. In the Company's Quarterly Report for the period ended September 30, 2025, the Company disclosed that it had incurred losses since its inception, has negative working capital of $19.64 million as of September 30, 2025 and has negative operating cash flows, all of which raised substantial doubt about its ability to continue as a going concern. As of September 30, 2025, the Company had $54.11 million in total assets, $29.17 million in total liabilities, and a total stockholders' equity of $24,94 million. OMNIQ CORP: Sees Strong Demand From $170 Billion Security Funding ----------------------------------------------------------------- OmniQ Corp reported that increased government funding and rapid advances in artificial intelligence are driving demand for machine vision, vehicle recognition, and intelligent monitoring technologies across government and commercial markets as there has been more than $170 billion in funding authorized for security and immigration projects. Recent reporting by The Wall Street Journal highlighted that more than $170 billion has been allocated toward immigration and security initiatives, along with approximately $165 billion in additional Homeland Security funding, including billions of dollars designated for border technology and surveillance infrastructure. The funding comes as the adoption of artificial intelligence-powered surveillance and machine vision technologies continues to accelerate. According to Grand View Research, the global computer vision market is projected to grow from approximately $19.8 billion in 2024 to $58.3 billion by 2030, while the AI in video surveillance market is expected to expand from approximately $6.5 billion to $28.8 billion during the same period. The Wall Street Journal described the rapid expansion of AI-powered surveillance and monitoring technologies as an emerging "AI gold rush," attracting new competitors and accelerating innovation across the machine vision industry. OMNIQ's recent deployments include AI-powered vehicle recognition, mobile license plate recognition, vehicle damage inspection, healthcare monitoring applications, and intelligent monitoring solutions supporting transportation, parking, and enterprise operations. "We're encouraged to see the level of investment and innovation taking place across the machine vision industry," said Shai Lustgarten, Chief Executive Officer of OMNIQ. "What we're seeing now is a great opportunity for omniQ and our products. This investment and significant funding create broader recognition of the practical applications and value that omniQ's technology and products can deliver across government and commercial markets." About OmniQ Corp OmniQ Corporation -- www.omniq.com -- provides computerized and machine vision image processing solutions that use patented and proprietary AI technology to deliver real-time object identification, tracking, surveillance, and monitoring for the Supply Chain Management, Public Safety, and Traffic Management applications. The technology and services provided by the Company help clients move people, objects, and manage big data safely and securely through airports, warehouses, schools, and national borders and in many other applications and environments. As of March 31, 2026, the Company had $25.6 million in total assets, $39.7 million in total liabilities, and $14.1 million in total OmniQ stockholders' equity. Salt Lake City, Utah-based Haynie & Company, the Company's auditor since 2019, issued a "going concern" qualification in its report dated April 15, 2026, attached to the Company's Annual Report on Form 10-K for the year ended December 31, 2025, citing that the Company has a deficit in stockholders' equity and has sustained recurring losses from operations. These conditions and events raise substantial doubt about the Company's ability to continue as a going concern for a reasonable period of time. OPTIV PARENT: Moody's Alters Outlook on 'Caa2' CFR to Stable ------------------------------------------------------------ Moody's Ratings downgraded Optiv Parent Inc.'s ("Optiv") Probability of Default Rating to D-PD from Caa2-PD to reflect Moody's views that the recent amend and extend transaction, completed in May 2026, is a distressed exchange, which is a default under Moody's definitions. Moody's concurrently affirmed the Caa2 Corporate Family Rating and withdrew ratings on the old debt instruments, including the Caa2 Senior Secured First Lien Term Loan and the Ca Senior Secured Second Lien Term Loan. Moody's will subsequently withdraw the Caa2 Corporate Family Rating and D-PD PDR given the lack of outstanding rated debt going forward. The outlook changed to stable from negative. As part of the amend and extend transaction, the company extended the maturities of each of its debt instruments by two years, with the extended asset-based-lending (ABL) facility now maturing in May 2028, the extended first lien term loan in August 2028, and the extended second lien term loan in August 2029. The extension also increased the pricing spread for the first and second lien terms loans, as well as the debt principal for each term loan in the form of capitalized fees. The stable outlook reflects the extended maturities and healthy expected revenue growth in the high single digit to low double digit range in 2026 as well as a more stable business profile without the recently sold commercial consulting business, which exhibited higher volatility and lower profitability. The growth along with cost actions taken in 2025 (which affected mostly sales support roles), should enable leverage to decline to about 10x (Moody's adjusted) in 2026 from approximately 20x in 2025. RATINGS RATIONALE The Caa2 CFR reflects still elevated leverage and the prospects of potential losses to be incurred particularly by second lien lenders in the event that the proceeds from an eventual sale of the company are not enough to cover all debt liabilities, especially since the extended first and second lien term loans both have a paid in kind (PIK) interest component, which will increase the principal over time. Governance considerations include the company's elevated leverage and concentrated ownership structure amidst near term maturities, which may result in actions that favor shareholders over creditors. Liquidity is adequate, given about $19 million in cash and about $89 million in ABL availability at March 31, 2026, with expectations of modestly positive free cash flow (supported by the PIK interest component) in 2026. There are no financial maintenance covenants on the term loans. Optiv Parent Inc. is a value-added-reseller of cybersecurity technology and provider of cybersecurity services. The company, headquartered in Denver, CO, had net revenue of about $623 million and gross revenue of $3.8 billion for the fiscal year ended December 31, 2025. The company was acquired by private equity firm KKR in 2017. 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. PALM VALLEY: Case Summary & 20 Largest Unsecured Creditors ---------------------------------------------------------- Debtor: The Palm Valley School, Inc. 35-525 Da Vall Drive Rancho Mirage, CA 92270 Business Description: Palm Valley School is an independent, non-religious, college-preparatory school located in Rancho Mirage, California. Founded in 1952, the school provides preschool through high school education to students and families in the region. Its 34-acre campus includes dedicated preschool, elementary, middle school, and high school divisions, as well as athletic, performing arts, and learning facilities. Chapter 11 Petition Date: June 8, 2026 Court: United States Bankruptcy Court Central District of California Case No.: 26-14634 Judge: Hon. Scott H Yun Debtor's Counsel: Summer Shaw, Esq. SHAW & HANOVER, PC 44-901 Village Court, Suite B Palm Desert, CA 92260 Tel: (760) 610-0000 Fax: (760) 687-2800 Email: ss@shaw.law Estimated Assets: $10 million to $50 million Estimated Liabilities: $1 million to $10 million The petition was signed by Sarah L. Dunn, Ph.D. as chairperson of the Board. A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/R5ZB42I/The_Palm_Valley_School_Inc__cacbke-26-14634__0001.0.pdf?mcid=tGE4TAMA List of Debtor's 20 Largest Unsecured Creditors: Entity Nature of Claim Claim Amount 1. Adam Johnson Deposit $3,000 PO Box 368 Thousand Palms, CA 92276 2. Bernhard Brandenburg Deposit $2,000 35449 Sereno Lane Palm Desert, CA 92211 3. Deston Bennett Deposit $2,000 77543 Malone Cir. Palm Desert, CA 92211 4. Elena Bulatova Deposit $2,000 70442 Verlaine Dr Rancho Mirage, CA 92270 5. Eric Todorski Deposit $2,000 75285 Buckley Drive Palm Desert, CA 92211 6. Kevin Wiseman Deposit $2,000 74179 Pele Place Palm Desert, CA 92211 7. Kylie William Deposit $2,000 238 Strada Fortuna Palm Desert, CA 92260 8. Leaf Copy Machines $117,241 PO Box 5066 Hartford, CT 06102-5066 9. Lester Kiss Deposit $2,000 1640 Stonehedge Road Palm Springs, CA 92264 10. Manuel Suero Deposit $2,000 1046 Bella Vista Palm Springs, CA 92264 11. Matt Cavnar Deposit $2,000 1456 E San Lorenzo Road Palm Springs, CA 92664 12. Melissa Winn Deposit $2,000 68105 Seven Oaks Place Cathedral City, CA 92234 13. Paul Lewin Deposit $3,000 16 Summer Sky Circle Rancho Mirage, CA 92270 14. Pluto Investments US, Inc. Loan $20,000 83 Royal Saint Georges Way Rancho Mirage, CA 92270 15. Sabrina Eaton Deposit $2,000 9 Mount San Jacinto Circle Rancho Mirage, CA 92270 16. Saundra Vild Deposit $2,000 75419 La Cresta Dr Palm Desert, CA 92211 17. Shibani Medina Deposit $2,000 42407 Marzio Way Indo, CA 92203 18. Tiaunia Henry Deposit $2,000 15 Lake Tahoe Drive Rancho Mirage, CA 92270 19. Travis Dunn Deposit $2,000 52 Sherwood Road Rancho Mirage, CA 92270 20. Zorina Mor Deposit $2,000 6 Lake Mendocino Drive Rancho Mirage, CA 92270 PARI & GERSHON: Scott Sackett Named Subchapter V Trustee -------------------------------------------------------- The U.S. Trustee for Region 17 appointed Scott Sackett as Subchapter V trustee for Pari & Gershon Incorporated. Mr. Sacket will be paid an hourly fee of $350 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Seidel declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Scott M. Sackett 4030 S. Land Park Dr., Suite C Sacramento, CA 95822 Phone: (916) 930-9900 Email: scott.sackett@efmt.com About Pari & Gershon Incorporated Pari & Gershon Incorporated sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Cal. Case No. 26-12606) on June 1, 2026, with $0 to $50,000 in assets and $100,001 to $500,000 in liabilities. Judge Jennifer E. Niemann presides over the case. David C. Johnston, Esq. represents the Debtor as legal counsel. PAWLUS DENTAL: To Sell Dental Practice Assets to West Haven Dental ------------------------------------------------------------------ Pawlus Dental, Inc. seeks 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. The Debtor owns and operates a dental practice located at 4001 W Goeller Boulevard, Suite C, Columbus, Indiana 47201. The Debtor wishes to sell most of it's assets used or held for use in the conduct of the Practice other than the Excluded Assets. The Sale Assets include certain equipment, supplies, patient records, and general intangibles including goodwill. The Excluded Assets include the Debtor's: accounts receivables; cash; bank accounts; a piece of equipment identified as a YOMI, S/N: Y-109; certain equipment identified as a COM LAB INLAB MC X5/CEREC INEOS X5 SCANNER UNIT/INLAB PROFIRE USA, S/N:106312 / 8083 / 2639; a conference room table; and antiques or personal belongings located at the Practice but owned by the Debtor's principal or his wife. The Debtor submits that the Sale Assets may contain personally identifiable information as part of the patient records. However, the Debtor submits such information shall be preserved and protected as part of this transaction in large part because the information will not physically be moved, and the Debtor and Purchaser are required pursuant to the Agreement to maintain the confidentiality of such information in accordance with Indiana law, the promulgations of the Indiana State Board of Dentistry, and HIPAA. The Debtor agreed to sell the Sale Assets to West Haven Dental LLC, which is owned by Austin Smith, D.M.D. for $350,000.00. The Agreement provides standard representations and warranties, covenants, and closing deliveries. In addition, the sale of the Sale Assets may or may not include future employment with the Purchaser for a few of the Debtor's current employees. Regarding the Debtor's accounts receivables, the Agreement's Section 5.9 reflects that the Purchaser agrees to collect the Debtor's accounts receivables for a period of 60 days after closing on the sale. The Purchaser shall be entitled to a five percent administrative fee for collections that occur during the first 30 days post-closing, and the Purchaser shall be entitled to a forty percent administrative fee for collections that occur during days 31 through 60 post-closing. As of June 8, 2026, the Debtor's accounts receivable that are less than sixty days old total $83,917.50, and the Debtor's accounts receivables that are more than sixty but less than ninety days old total $39,674.86. The Debtor's accounts receivables that are older than ninety days total $234,622.33. The Debtor anticipates receiving $350,000.00 in net proceeds at closing on this sale, subject to pro-rations as provided for in the Agreement. The Purchaser and the Debtor have no prior relationship. The Debtor is unaware of any relationship existing between the Purchaser and the United States Trustee or the Sub V Trustee, and the Debtor believes that no such relationship exists. The Debtor seeks authority to sell the Sale Assets to the Purchaser free and clear of all liens, claims, interests and encumbrances. The lienholders of the Property are German American Bank, U.S. Small Business Administration, and Financial Pacific Leasing, Inc. About Pawlus Dental Pawlus Dental, Inc. provides comprehensive dental services in Columbus, Ind., focusing on preserving natural teeth and enhancing smile aesthetics. The practice offers treatments including dental implants, sleep apnea management, clear aligners, periodontal and cosmetic care, preventive and restorative dentistry, wisdom teeth extraction, root canal therapy, and sedation dentistry. Pawlus Dental sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Ind. Case No. 25-02780) on May 14, 2025, listing $890,156 in total assets and $1,119,328 in total liabilities. John G. Pawlus, president and owner of Pawlus Dental, signed the petition. Judge James M. Carr oversees the case. John Allman, at Hester Baker Krebs, LLC, is the Debtor's bankruptcy counsel. German American Bank, as lender, is represented by Bruce A. Smith, Esq.. and Rhonda S. Miller, Esq., at Smith & Miller, LLP, in Bargersville, Indiana. POINCIANA PERSONAL: Court Extends Cash Collateral Access to July 22 ------------------------------------------------------------------- Poinciana Personal Care and Companion Services Corp. received a third preliminary order from the U.S. Bankruptcy Court for the Middle District of Florida authorizing continued use of cash collateral through July 22. Under the order, the Debtor is authorized to use cash collateral to pay court-approved expenses, U.S. Trustee fees, and operating expenses outlined in its budget. The Debtor may exceed individual budget line items by up to 10% and may incur additional expenditures if approved in writing by Newtek Bank, which must respond to requests within 48 hours. The Debtor projects total operational expenses of $281,109.64 for June; $281,223.22 for July; and $288,916.67 for August. As adequate protection, Newtek Bank will be granted a perfected post-petition replacement lien on cash collateral, with the same validity, priority, and extent as its pre-petition lien. The Debtor must also maintain insurance coverage in accordance with its loan and security agreements with Newtek as further protection. The order reserves all parties' rights regarding the validity, perfection, priority, and secured status of any asserted liens and does not constitute an admission concerning those issues. Moreover, the order is without prejudice to future requests for modified adequate protection, additional restrictions on cash collateral use, or challenges by a creditors' committee if one is appointed. The order is available at http://bankrupt.com/misc/PoincianaPersonal_3PrelimCCOrder.pdf A continued preliminary hearing is scheduled for July 22. About Poinciana Personal Care and Companion Services Corp. Poinciana Personal Care and Companion Services Corp. is a Florida-based home health care provider headquartered in Kissimmee, Florida, offering personal care and companion services to individuals in residential settings. It provides non-medical assistance with activities of daily living as well as supportive care services designed to help clients maintain independence at home. Incorporated in 2021, Poinciana operates as a for-profit corporation serving clients within the state of Florida. Poinciana sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 26-01350) on Feb. 27, 2026, with $148,523 in assets and $2,052,845 in liabilities. Hector Rodriguez, president and director of Poinciana, signed the petition. Judge Tiffany P. Geyer presides over the case. Juan Burgos, Esq., at the Law Offices of Juan C. Burgos, P.L. represents the Debtor as bankruptcy counsel. POPOVICH ENTERPRISES: Employs Roderick Linton Belfance as Counsel ----------------------------------------------------------------- Popovich Enterprises, LLC seeks approval from the U.S. Bankruptcy Court for the Northern District of Ohio to employ Roderick Linton Belfance LLP as bankruptcy counsel in its Chapter 11 case. The firm will provide these services: (a) advising Debtor with respect to its powers and duties as debtor-in-possession in the continued operation of its business; (b) advising Debtor with respect to all bankruptcy matters; (c) preparing all necessary motions, applications, answers, orders, reports, and papers in connection with the administration of the estates of Debtor; (d) representing Debtor at all hearings on matters relating to its affairs and interests as debtor-in-possession before the Court and protecting the interests of Debtor; (e) prosecuting and defending litigated matters that may arise during the case, including matters necessary for protection of Debtor's rights, preservation of estate assets, or successful reorganization; (f) advising Debtor with respect to other legal matters that may arise during the pendency of the case; and (g) performing other legal services necessary for the economic and efficient administration of the case. RLB will be compensated on an hourly basis at these standard rates: Partners: $300 to $400 Associates and Of Counsel Attorneys: $225 to $350 Paralegals: $125 to $165 Primary professionals Steven J. Heimberger, Esq. and David A. Randolph, Esq. will be paid an hourly rates of $350 and $285, respectively. The firm also received a $7,500 retainer and $1,738 filing fee payment, which have been fully applied as of the Petition Date. Roderick Linton Belfance LLP is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code, and does not hold or represent any interest adverse to the Debtor or its estate, according to court filings. The firm can be reached at: Steven J. Heimberger, Esq. David A. Randolph, Esq. RODERICK LINTON BELFANCE LLP 50 South Main Street, 10th Floor Akron, OH 44308 Telephone: (330) 434-3000 Facsimile: (330) 434-9220 E-mail: sheimberger@rlbllp.com drandolph@rlbllp.com About Popovich Enterprises, LLC Popovich Enterprises, LLC is an Ohio limited liability company. The bankruptcy petition does not specify the company's business operations, though it appears to function as a privately held commercial enterprise. Popovich Enterprises, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-60830) on June 2, 2026. In its petition, the Debtor reported estimated assets of $0-$100,000 and estimated liabilities of $100,001-$1 million. Honorable Bankruptcy Judge Tiiara N.A. Patton handles the case. The Debtor is represented by Steven Heimberger, Esq. of Roderick Linton Belfance, LLP. POWER LANE: Seeks to Hire David C. Johnston as Attorney ------------------------------------------------------- Power Lane Logistics Distribution & Warehousing, Inc. seeks approval from the U.S. Bankruptcy Court for the Eastern District of California to employ David C. Johnston as attorney. The firm's services include: a. giving the Debtor legal advice about various bankruptcy options, including relief under Chapters 7, 11, 12, and 13, and legal advice about non-bankruptcy alternatives for dealing with the claims against it; b. giving the Debtor in Possession legal advice about its rights, powers, and obligations in the Chapter 11 case and in the management of the estate; c. taking necessary action to enforce the automatic stay and to oppose motions for relief from the automatic stay; d. taking necessary action to recover and avoid any preferential or fraudulent transfers and to exercise the Debtor in Possession's strong-arm powers; e. appearing with the Debtor's chief executive officer at the meeting of creditors, status conferences, and other hearings held before the Court; f. reviewing and if necessary, objecting to proofs of claim; g. taking steps to obtain Court authority for the sale of assets; and h. preparing a plan of reorganization and taking all steps necessary to bring the plan to confirmation, if possible. David C. Johnston will be paid at $500 per hour. The firm received a retainer in the amount of $5,000. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Mr. Johnston, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: David C. Johnston, Esq. 1600 G Street, Suite 102 Modesto, CA 95354 Tel: (209) 579-1150 Fax: (209) 900-9199 About Power Lane Logistics Distribution & Warehousing, Inc. Power Lane Logistics Distribution & Warehousing, Inc. is a logistics company providing distribution, warehousing, and supply chain services. Power Lane Logistics Distribution & Warehousing, Inc. sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-21958) on April 7, 2026. In its petition, the Debtor reports estimated assets of $1 million to $10 million and estimated liabilities of $1 million to $10 million. Honorable Bankruptcy Judge Sean H. Lane handles the case. The Debtor is represented by H. Bruce Bronson, Jr., Esq. of Bronson Law Offices, P.C. PREMIUM EDGE: Files Emergency Bid to Use Cash Collateral -------------------------------------------------------- Premium Edge, LLC asks the U.S. Bankruptcy Court for the Middle District of Florida, Orlando Division for emergency authorization to use cash collateral and provide adequate protection. The Debtor’s prepetition debt stems from Senior Living Revenue Bonds issued in 2019 by the Capital Trust Agency in the original principal amounts of $32,515,000 (Series A) and $1,095,000 (Taxable Series B). The bond proceeds were loaned to the Debtor to finance its community project, fund reserves, and cover issuance costs. UMB Bank, N.A. serves as the successor Bond Trustee. To secure the promissory notes, the Debtor executed a mortgage and assigned its gross revenues, rents, and leases to the Bond Trustee, creating a security interest in substantially all of its assets. This collateral includes all resident rents and income, which constitute the "Cash Collateral" in question, averaging approximately $700,000.00 per month. The Debtor emphasizes an urgent need to use this cash collateral to avoid immediate and irreparable harm to its estate. Without access to these funds, the Debtor claims it will be unable to maintain daily operations, fund payroll, or pay vendors, which would lead to a loss of key staff, operational interruption, and severe asset dissipation. Premium Edge, LLC does not anticipate seeking post-petition financing, choosing instead to operate solely on existing cash collateral. To safeguard the Bond Trustee against any diminution in the value of its collateral, the Debtor proposes an adequate protection package that includes replacement liens, superpriority administrative claims, adherence to a 13-week budget, and monthly financial reporting featuring a 15% variance threshold. A default under these terms would result in the termination of the Debtor's authority to use the funds upon further order of the court. Additionally, the Debtor requests a limited modification of the automatic stay to execute the terms of the interim order, such as granting and perfecting the replacement liens. To ensure uninterrupted business functionality, the Debtor asks the court to waive the standard 14-day stay rules under the federal bankruptcy procedures, citing the exigent circumstances of the filing. A copy of the motion is available at https://urlcurt.com/u?l=0dBeSJ from PacerMonitor.com. About Premium Edge, LLC Premium Edge, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 6:26-bk-04017-TPG) on May 29, 2026. In the petition signed by Adriana Dall'Armellina, manager, the Debtor disclosed up to $100 million in assets and up to $50 million in liabilities. Judge Tiffany P. Geyer oversees the case. Michael L. Schuster, Esq., at Polsinelli PC, represents the Debtor as legal counsel. PRINCE GLOBAL: Court Gives Green Light for Chapter 15 Petition -------------------------------------------------------------- Ben Zigterman of Law360 Bankruptcy Authority reports that a federal bankruptcy judge in New York said he would approve a Chapter 15 petition seeking recognition of the British Virgin Islands insolvency of Prince Global Holdings, an affiliate of a Cambodian business group accused of running an extensive investment scam. The decision would bring the foreign proceeding under the protection of the U.S. Bankruptcy Code. The foreign representatives argued that recognition is necessary to safeguard assets located in the United States and to coordinate cross-border recovery efforts. The court appeared persuaded that the requirements for recognition had been met and that the BVI proceeding is entitled to deference under Chapter 15. While the conglomerate has faced allegations of misconduct and investor losses, the judge suggested those issues do not prevent recognition of a valid foreign insolvency case. The ruling would allow the representatives to pursue asset preservation and creditor recovery efforts within the United States, the report relays. About Prince Global Holdings Limited Prince Global Holdings Limited is an international financial services firm engaged in investment and asset management activities. Prince Global Holdings Limited sought relief under Chapter 15 of the U.S. Bankruptcy Code (Bankr. Case No. 26-10769) on April 8, 2026. In its petition, the Debtor did not specify estimated assets or liabilities. Honorable Bankruptcy Judge Martin Glenn handles the case. The Debtor is represented by Andrew G. Dietderich, Esq., of Sullivan & Cromwell LLP. PROOFPOINT INTERMEDIATE I: Fitch Affirms 'B' IDR, Outlook Stable ---------------------------------------------------------------- Fitch Ratings has affirmed the Long-Term Issuer Default Ratings (IDRs) for Proofpoint Intermediate Holdings I, Inc. and its wholly owned subsidiary, Proofpoint Inc.'s (collectively, Proofpoint) at 'B'. Fitch also affirmed Proofpoint's secured first lien revolver and the first-lien secured term loan at 'BB-' with a Recovery of 'RR2'. The Rating Outlook is Stable Fitch expects Proofpoint's Fitch-adjusted EBITDA leverage to decline to below 7.0x, with cash flow growth driven by EBITDA growth due to continuing revenue growth and implementation of operational optimization. Fitch also expects CFO less capex to debt above 3% over the rating horizon, reflecting lower operating expenses as a share of revenue. Proofpoint's ratings are also supported by highly recurring revenues that are likely to translate into resilient cash flow generation. The ratings are limited by lack of diversification in end-market products and a moderate leverage profile. Key Rating Drivers Elevated Debt, with Deleveraging Capacity: Proofpoint's Fitch-calculated 2026 EBITDA leverage is projected to be about 7.1x due to the recent debt-funded acquisition of Hornetsecurity. Fitch forecasts gross leverage will decline to below 6.0x in 2028 as the company benefits from continuing revenue growth and operating leverage. However, Fitch expects limited deleveraging, as Proofpoint's private equity ownership is likely prioritize return on equity maximization over debt prepayment, including acquisitions to broaden the company's market position. Leader in Niche Cybersecurity Industry: In the highly fragmented enterprise cybersecurity industry, Proofpoint has been a leader in enterprise email security, data security and compliance. Its products protect against threats across email, web, networks, cloud applications, data governance and data retention enforcement. The company has built a strong reputation for providing solutions that protect organizations from advanced email threats such as phishing, malware, and business email compromise. Email is the number one threat vector in cybersecurity and is the primary entry point for sophisticated attacks. Improving Operations and FCF: Since Proofpoint's 2021 acquisition by Thoma Bravo, it has optimized operations to levels comparable to industry peers. The company executed a significant portion of this strategic plan and is on track with management's expectations. Fitch expects Proofpoint's capital expenditure (capex) and working capital requirements to be minimal. Improvements in operational performance should expand Fitch-calculated FCF margin to the low-teens in 2028, approaching industry peer levels. Secular Tailwind Supporting Growth: Proofpoint benefits from the growing cybersecurity industry, which Fitch forecasts will have a growth rate in the low teens in a normal economic environment. The importance of cybersecurity has risen in recent years as increasingly complex IT networks, digitalization of information, cloud computing adoption, AI-powered threats, expanding IoT attack surfaces, and more stringent regulatory requirements compel organizations to increase their cybersecurity investments. Fitch believes this will benefit subsegment leaders such as Proofpoint, which will be part of the solution to these issues. High Retention and Diversified Customer Base: Proofpoint serves customers across diverse industry verticals. The broad exposure reduces customer concentration risks and revenue volatility through economic cycles, which reduces industry-specific risks. Over 95% of Proofpoint's revenue is recurring in nature, with high gross retention rates. These long-term customer relationships stem from the company's platform of cybersecurity products, which solidify its market position. The high revenue retention and recurring revenue enhance the predictability of Proofpoint's financial performance and maximize the lifetime value of customers. Acquisition Increases Offerings, Diversification: Proofpoint focuses on the Threat Protection Platform segment, primarily email security. While this segment is growing, the company's narrow focus could expose it to risks in the evolving cybersecurity industry, including technological disruptions. Proofpoint's acquisition of Hornetsecurity expands its international footprint and increase penetration in the small and medium-sized business (SMB) segment. Hornetsecurity is a provider of cloud-based email security, backup and compliance solutions for European SMBs. The acquisition has potential for cross-selling synergies and entry into the U.S. managed service provider market. AI Disruption Risk: Generative AI is lowering barriers to entry in the email security market, with API-native competitors challenging the traditional Secure Email Gateway model underpinning Proofpoint's market position. Fitch views Proofpoint's AI investment as a key mitigant; its data scale provides a structural training advantage that newer entrants are unlikely to replicate. Coupled with M&A toward AI-native architecture and deep enterprise entrenchment, Proofpoint is well-positioned to adapt alongside, rather than be displaced by, the AI adoption curve over the rating horizon. Peer Analysis Within the broader enterprise security market, Proofpoint's peers include Gen Digital Inc. (BB+/Stable), Imprivata Inc. (B/Stable), Ivanti Software, Inc. (B-/Stable), Redstone Parent LP (B-/Stable), Ping Identity Holding Corp. (B+/Stable) and KnowBe4, Inc. (B/Stable). Proofpoint has greater scale than KnowBe4, Imprivata, Ivanti, Redstone and Ping Identity, but operates at a smaller scale than Gen Digital. EBITDA margins are comparable with KnowBe4 and Redstone, but lower than Gen Digital and Imprivata. EBITDA leverage is in line with KnowBe4 and lower than Ivanti and Redstone, but higher than Gen Digital and Ping Identity. Fitch expects Proofpoint's leverage to decline to below 6.0x by 2028, consistent with a 'B' category rating. Fitch’s Key Rating-Case Assumptions - Organic revenue growth in the low -teen percent range; - EBITDA margins in mid-30%-range; - Capex intensity of approximately 2.0% of revenues per year; - Aggregate additional tuck-in acquisitions totaling $400 million through 2029; - No debt prepayment or incremental issuance through the forecast period; - Fitch assumes Secured Overnight Financing Rate (SOFR) base rates of 3.7% for rating horizon. Corporate Rating Tool Inputs and Scores Fitch scored the issuer as follows, using its Corporate Rating Tool (CRT) to produce the Standalone Credit Profile (SCP): The SCP is 'b'. To derive the Long-Term IDR: Fitch made no adjustments to the SCP, resulting in an IDR of 'B'. Recovery Analysis - The recovery analysis assumes that Proofpoint would be reorganized as a going-concern (GC) in bankruptcy rather than liquidated. - Fitch has assumed a 10% administrative claim with a GC approach. - Fitch assumed a GC EBITDA of $600 million for Proofpoint. The GC EBITDA estimate reflects Fitch's view of a sustainable, post-reorganization EBITDA level that should be approaching the industry norm while incorporating the risks associated with necessary operational improvements, upon which Fitch bases the enterprise valuation (EV). - An EV multiple of 7.0x EBITDA is applied to the GC EBITDA to calculate a post-reorganization EV. The choice of this multiple considered the following factors: - The historical bankruptcy case study exit multiples for technology peer companies ranged from 2.6x to 10.8x; - Of these companies, five were in the software sector: Allen Systems Group, Inc. (8.4x); Avaya, Inc. (2023: 7.5x; 2017: 8.1x); Aspect Software Parent, Inc. (5.5x), Sungard Availability Services Capital, Inc. (4.6x) and Riverbed Technology Software (8.3x); - The highly recurring nature of Proofpoint's revenue and the mission critical nature of its products support the high-end of the range. - After applying the 10% administrative claim, adjusted EV of approximately $3.8 billion is available for claims by creditors. This results in a 'BB-'/'RR2' Recovery Rating (RR) for the secured first lien debt and RCF. RATING SENSITIVITIES Factors that Could, Individually or Collectively, Lead to Negative Rating Action/Downgrade - Fitch's expectation of EBITDA leverage remaining above 7.0x; - (CFO-capex)/Debt below 3.0% on a sustained basis; - EBITDA interest coverage sustained below 1.5x; - Negative revenue growth reflecting erosion in market position for core products. Factors that Could, Individually or Collectively, Lead to Positive Rating Action/Upgrade - Fitch's expectation of EBITDA leverage remaining below 5.5x; -(CFO-capex)/Debt above 7.0%. Liquidity and Debt Structure Fitch expects Proofpoint's liquidity to be adequately supported by nearly $300 million in cash on balance sheet at the end of March 2026, a $300 million undrawn revolving credit facility (RCF) and projected positive FCF generation. Proofpoint has $5.04 billion of secured first lien debt due in 2028 alongside with a privately placed $1.2 billion second lien term loan due in 2033. Issuer Profile Proofpoint is a leading cybersecurity and compliance company serving large and mid-sized organizations with a focus on protecting employees from IT security threats and compliance risks. The company's products include security and compliance programs that are primarily cloud-delivered. MACROECONOMIC ASSUMPTIONS AND SECTOR FORECASTS Fitch's latest quarterly Global Corporates Sector Forecasts Monitor data file which aggregates key data points used in its credit analysis. Fitch's macroeconomic forecasts, commodity price assumptions, default rate forecasts, sector key performance indicators and sector-level forecasts are among the data items included. Climate Vulnerability Signals The results of its Climate.VS screener did not indicate an elevated risk for Proofpoint Intermediate Holdings I, Inc. and its wholly owned subsidiary, Proofpoint Inc ESG Considerations The highest level of ESG credit relevance is a score of '3', unless otherwise disclosed in this section. A score of '3' means ESG issues are credit-neutral or have only a minimal credit impact on the entity, either due to their nature or the way in which they are being managed by the entity. Fitch's ESG Relevance Scores are not inputs in the rating process; they are an observation on the relevance and materiality of ESG factors in the rating decision. PUERTO RICO: Bondholders Group Now Up to 20 Members, Dechert Says ----------------------------------------------------------------- In the Chapter 11 bankruptcy cases of the Commonwealth of Puerto Rico and Puerto Rico Electric Power Authority (PREPA) and its debtor-affiliates, Dechert LLP filed with the United States Bankruptcy Court for the District of Puerto Rico an Eleventh Verified Statement pursuant to Bankruptcy Rule 2019 and the Twenty-First Amended Notice, Case Management and Administrative Procedures Order to inform the Court that the firm continues to represent the PREPA Ad Hoc Group of beneficial holders holding bonds issued by Puerto Rico Electric Power Authority under a trust agreement between PREPA and the U.S. Bank National Association, as successor trustee, dated January 1, 1974, as amended and supplemented (the Trust Agreement), in connection with the case (PREPA Title III Case) commenced by the Financial Oversight and Management Board for Puerto Rico on behalf of PREPA on July 2, 2017. Dechert previously disclosed -- at the time of the filing of the Tenth Verified Statement -- that the Group consisted of 19 Members, with an aggregate principal amount of uninsured Bonds held of approximately $2.78 billion (including Custodial Claims). According to the Eleventh Verified Statement, the Group now consists of 20 members, holding, collectively, approximately $2.9 billion in aggregate principal amount of uninsured Bonds (including Custodial Claims), in addition to approximately $361 million in aggregate principal amount of insured Bonds. According to the Ad Hoc Group's Eleventh Verified Statement: 1. On September 11, 2023, a group of PREPA bondholders (including a member of the former Ad Hoc Group of PREPA Bondholders represented by Kramer Levin Naftalis & Frankel) decided to engage Dechert to represent their interests in the PREPA Title III Case and related litigation. 2. On September 27, 2023, Dechert submitted the First Verified Statement of the PREPA Ad Hoc Group Pursuant to Bankruptcy Rule 2019, disclosing its 13 Members' holdings of approximately $2.1 billion in aggregate principal amount of uninsured Bonds. On October 4, 2023, Dechert submitted the Second Verified Statement of the PREPA Ad Hoc Group Pursuant to Bankruptcy Rule 2019, disclosing the joining of a new Member. On January 24, 2024, Dechert submitted the Third Verified Statement of the PREPA Ad Hoc Group Pursuant to Bankruptcy Rule 2019, disclosing the joining of another new Member. On July 8, 2024, Dechert submitted the Fourth Verified Statement of the PREPA Ad Hoc Group Pursuant to Bankruptcy Rule 2019. On December 10, 2024, Dechert submitted the Fifth Verified Statement of the PREPA Ad Hoc Group Pursuant to Bankruptcy Rule 2019. On March 17, 2025, Dechert submitted the Sixth Verified Statement of the PREPA Ad Hoc Group Pursuant to Bankruptcy Rule 2019. On April 9, 2025, Dechert submitted the Seventh Verified Statement of the PREPA Ad Hoc Group Pursuant to Bankruptcy Rule 2019. On May 19, 2025, Dechert submitted the Eighth Verified Statement of the PREPA Ad Hoc Group Pursuant to Bankruptcy Rule 2019. On August 28, 2025, Dechert submitted the Ninth Verified Statement of the PREPA Ad Hoc Group Pursuant to Bankruptcy Rule 2019. On March 17, 2026, Dechert submitted the Tenth Verified Statement of the PREPA Ad Hoc Group Pursuant to Bankruptcy Rule 2019 (the Tenth Verified Statement). 3. Since the filing of the Tenth Verified Statement, one new Member has joined the Group, and the Group is currently comprised of 20 Members. Dechert submits this Eleventh Verified Statement to update the PREPA Ad Hoc Group's holdings of Bonds and disclosable economic interests currently held by its Members, as of May 31, 2026. 4. As of the date of this Eleventh Verified Statement, Dechert represents the PREPA Ad Hoc Group in the Chapter 11 cases, as well as a single Member, Invesco Advisers Inc. (as investment adviser/agent on behalf of certain funds and/or accounts advised by it) (Invesco), in related litigation. Dechert does not represent the PREPA Ad Hoc Group as a committee (as such term is used in the Bankruptcy Code and Bankruptcy Rules) and does not undertake to, and does not represent the interest of, and is not a fiduciary for, any creditor, party in interests, or entity other than the PREPA Ad Hoc Group and Invesco. For the avoidance of doubt, as of the time of this filing, Dechert represents only the PREPA Ad Hoc Group and Invesco in connection with the PREPA Title III Case. In addition, as of the time of this filing, Dechert does not represent or purport to represent any other entities in connection with the PREPA Title III Case. 5. Upon information and belief, Dechert does not hold claims against, nor interests in, the Debtor or its estate, except for potential claims for fees and expenses incurred in representing the PREPA Ad Hoc Group. Dechert does not perceive any actual or potential conflict of interest with respect to the representation of the PREPA Ad Hoc Group and its Members in this case. 6. The information outlined, which is based on information provided by the Members of the PREPA Ad Hoc Group to Dechert, is subject to change, is intended only to comply with Bankruptcy Rule 2019 and the Case Management Order and is not intended for any other purpose. Nothing contained in this Eleventh Verified Statement should be construed as -- a limitation upon, or a waiver or release of any claims filed or to be filed against or interest in PREPA held by any Member, its affiliates or any other entity, or any rights of any Member or affiliate thereto to assert, file, and/or amend its claims against PREPA in accordance with applicable law and any orders entered in the PREPA Title III Case; or -- an admission with respect to any fact or legal theory. 6. Additional holders of claims against or disclosable economic interests in the Debtor's estate may become Members of the PREPA Ad Hoc Group, and certain Members of the PREPA Ad Hoc Group may cease to be Members of the PREPA Ad Hoc Group in the future. Dechert reserves the right to amend or supplement this Eleventh Verified Statement at any time and for any reason in accordance with Bankruptcy Rule 2019 and the Case Management Order. 7. Dechert has been advised by the Members of the PREPA Ad Hoc Group that its Members either hold, or manage funds and/or accounts that hold, collectively, approximately $2.9 billion in aggregate principal amount of uninsured Bonds (including Custodial Claims), in addition to approximately $361 million in aggregate principal amount of insured Bonds. The names, addresses, and the nature and amount of all disclosable economic interests in relation to the Debtor (Puerto Rico Electric Power Authority) PREPA, reported to Dechert as of May 31, 2026, by each Member of the PREPA Ad Hoc Group, are: 1. AllianceBernstein L.P., on behalf of certain funds and accounts it manages or advises 501 Commerce Street, Nashville, TN 37203 Nature and Amount of Disclosable Economic Interest Series and Par Amount Series 2013A -- $5,425,000 Series 2012A -- $13,825,000 Series DDD -- $6,345,000 Series CCC -- $15,410,000 Series AAA -- $10,880,000 Series ZZ -- $16,625,000 Series XX -- $47,745,000 Series WW -- $23,895,000 Series TT -- $43,230,000 Uninsured Total -- $183,380,000 Series VV (Insured) -- $56,305,000 Insured Total -- $56,305,000 Total -- $239,685,000 2. Aristeia Capital, L.L.C., on behalf of certain funds and accounts it manages or advises One Greenwich Plaza, Suite 300, Greenwich, CT 06830 Nature and Amount of Disclosable Economic Interest Series and Par Amount Series CCC -- $7,480,000 Series XX -- $16,470,000 Series WW -- $8,880,000 Series TT -- $8,880,000 Series SS* -- $45,430,000 Uninsured Total -- $87,140,000 3. BNY Mellon Funds Trust, on behalf of certain funds and accounts it manages or advises 201 Washington Street, 8th Floor, Boston, MA 02108 Nature and Amount of Disclosable Economic Interest Series and Par Amount Series 2013A -- $10,000,000 Series DDD -- $2,000,000 Series ZZ -- $2,500,000 Uninsured Total -- $14,500,000 4. Capital Research and Management Company, on behalf of certain funds and accounts it manages or advises 333 South Hope Street, 54th Floor, Los Angeles, CA 90404 Nature and Amount of Disclosable Economic Interest Series and Par Amount Series 2013A -- $2,370,000 Series 2012A -- $17,745,000 Series EEE -- $4,850,000 Series DDD -- $32,230,000 Series CCC -- $12,335,000 Series AAA -- $18,135,000 Series ZZ -- $37,170,000 Series YY -- $200,000 Series XX -- $23,280,000 Series WW -- $27,705,000 Series VV -- $75,000 Series TT -- $52,280,000 Series UU Variable Rate Bonds -- $8,000,000 Series SS -- $535,000 Series NN -- $350,000 Series B4 -- $450,000 Series RR* -- $9,250,000 Uninsured Total -- $246,960,000 Series VV (Insured) -- $475,000 Series UU Fixed Rate Bonds (Insured) -- $7,905,000 Series UU Variable Rate Bonds (Insured) -- $32,440,000 Series RR (Insured) -- $3,595,000 Series SS (Insured) -- $185,000 Series NN (Insured) $2,555,000 Insured Total $47,155,000 Total $294,115,000 5. Centiva Capital, LP, on behalf of certain funds and accounts it manages or advises 66 Hudson Blvd E., 56th Floor, New York, NY 10001 Nature and Amount of Disclosable Economic Interest Series and Par Amount Series 2013A -- $1,000,000 Series 2012A -- $1,320,000 Series EEE -- $100,000 Series DDD -- $1,219,000 Series AAA -- $10,680,000 Series ZZ -- $2,800,000 Series YY -- $5,920,000 Series XX -- $21,340,000 Series WW -- $28,895,000 Series TT -- $27,610,000 Series SS* -- $28,975,000 Series NN* -- $28,705,000 Series PP* -- $1,980,000 Series MM* -- $5,160,000 Series LL* -- $7,805,000 Uninsured Total -- $173,509,000 6. Columbia Management Investment Advisers, LLC, on behalf of certain funds and accounts it manages or advises 290 Congress Street, Boston, MA 02210 Nature and Amount of Disclosable Economic Interest Series and Par Amount Series 2012A -- $6,655,000 Series CCC -- $5,000,000 Series XX -- $12,160,000 Series WW -- $3,500,000 Series TT -- $7,155,000 Uninsured Total -- $34,470,000 7. Delaware Management Company, a series of Nomura Asset Management Co., Ltd., on behalf of certain funds and accounts it manages or advises 610 Market Street, Philadelphia, PA 19106 Nature and Amount of Disclosable Economic Interest Series and Par Amount Series 2013A -- $4,275,000 Series 2012A -- $17,710,000 Series CCC -- $12,950,000 Series AAA -- $9,370,000 Series ZZ -- $15,265,000 Series XX -- $40,910,000 Series WW -- $37,405,000 Series TT -- $15,280,000 Uninsured Total -- $153,165,000 8. Ellington Management Group, L.L.C., on behalf of certain funds and accounts it manages or advises 711 Third Avenue, New York, NY 10017 Nature and Amount of Disclosable Economic Interest Series and Par Amount Series 2012A -- $2,280,000 Series EEE -- $2,550,000 Series DDD -- $50,000 Series AAA -- $1,830,000 Series ZZ -- $6,660,000 Series WW -- $1,140,000 Series TT -- $1,410,000 Uninsured Total -- $15,920,000 9. Goldman Sachs Asset Management L.P., on behalf of certain funds and accounts it manages or advises 200 West Street, New York, NY 10282 Nature and Amount of Disclosable Economic Interest Series and Par Amount Series 2013A -- $50,925,000 Series 2012A -- $60,744,700 Series EEE -- $8,010,000 Series DDD -- $1,815,000 Series CCC -- $28,380,000 Series BBB -- $90,000 Series AAA -- $20,983,000 Series ZZ -- $12,596,000 Series YY -- $2,460,000 Series XX -- $84,640,000 Series WW -- $38,685,000 Series TT -- $50,655,000 Series SS* -- $35,185,000 Series A4 -- $2,415,332 Series B4 -- $2,415,332 Series E1 -- $5,627,765 Series E2 -- $5,627,765 Series E3 -- $1,875,922 Series E4 -- $1,875,922 Uninsured Total -- $415,006,738 Series VV (Insured) -- $3,285,000 Series UU Variable Rate Bonds (Insured) -- $94,467,000 Series NN (Insured) -- $1,455,000 Insured Total -- $99,207,000 Total -- $514,213,738 10. Invesco Advisers, Inc., on behalf of certain funds and accounts it manages or advises 225 Liberty Street, New York, NY 10281 Nature and Amount of Disclosable Economic Interest Series and Par Amount Series 2013A -- $13,385,000 Series 2012A -- $20,820,000 Series EEE -- $895,000 Series DDD -- $16,230,000 Series CCC -- $12,970,000 Series AAA -- $12,345,000 Series ZZ -- $31,510,000 Series YY -- $1,200,000 Series XX -- $41,314,000 Series WW -- $12,620,000 Series VV -- $1,575,000 Series TT -- $23,005,000 Series UU Variable Rate Bonds -- $13,040,000 Series NN -- $360,000 Series A4 -- $9,506,250 Series B4 -- $1,199,459 Series E1 -- $899,595 Series E2 -- $4,987,463 Series E3 -- $4,860,368 Series E4 -- $2,876,653 Uninsured Total -- $225,598,788 Series VV (Insured) -- $84,540,000 Series UU Fixed Rate Bonds (Insured) -- $1,435,000 Series RR (Insured) -- $9,665,000 Series NN (Insured) -- $1,700,000 Series TT (Insured) -- $435,000 Series WW (Insured) -- $500,000 Insured Total -- $98,275,000 Total -- $323,873,788 11. Luxor Capital Group, LP, on behalf of certain funds and accounts it manages or advises 7 Times Sq, New York, NY 10036 Nature and Amount of Disclosable Economic Interest Series and Par Amount Series 2012A -- $31,885,000 Series ZZ -- $1,500,000 Series WW -- $7,500,000 Series TT -- $10,075,000 Series UU Variable Rate Bonds -- $19,750,000 Uninsured Total $70,710,000 12. MacKay Shields LLC, on behalf of certain funds and accounts it manages or advises 1345 Avenue of the Americas, New York, NY 10105 Nature and Amount of Disclosable Economic Interest Series and Par Amount Series 2013A -- $62,950,000 Series 2012A -- $55,042,000 Series EEE -- $122,375,000 Series DDD -- $18,755,000 Series CCC -- $21,905,000 Series BBB -- $12,135,000 Series AAA -- $29,790,000 Series ZZ -- $30,535,000 Series YY -- $87,925,000 Series XX -- $55,390,000 Series WW -- $66,145,000 Series TT -- $54,628,000 Series UU Variable Rate Bonds -- $4,140,000 Series SS -- $250,000 Series NN -- $670,000 Series E1 -- $165,099 Series E2 -- $165,099 Series E3 -- $55,033 Series E4 -- $555,033 Series PP* -- $15,000,000 Series RR* -- $12,500,000 Uninsured Total -- $651,075,264 Series VV (Insured) -- $9,340,000 Series UU Fixed Rate Bonds (Insured) -- $900,000 Series UU Variable Rate Bonds (Insured) -- $7,335,000 Series RR (Insured) -- $985,000 Series SS (Insured) -- $675,000 Series NN (Insured) -- $1,840,000 Series TT (Insured) -- $365,000 Insured Total -- $21,440,000 Total -- $672,515,264 13. Massachusetts Financial Services Company on behalf of certain funds and accounts it manages or advises 111 Huntington Avenue, Boston, MA 02199 Nature and Amount of Disclosable Economic Interest Series and Par Amount Series XX -- $4,890,000 Uninsured Total $4,890,000 Series VV (Insured) -- $26,295,000 Series UU Fixed Rate Bonds (Insured) -- $3,405,000 Series RR (Insured) -- $1,385,000 Series SS (Insured) -- $1,060,000 Series NN (Insured) -- $3,360,000 Series TT (Insured) -- $135,000 Insured Total -- $35,640,000 Total -- $40,530,000 14. Old Orchard Capital Management LP, on behalf of certain funds and accounts it manages or advises 340 Madison Avenue, Suite 3B, New York, NY 10173 Nature and Amount of Disclosable Economic Interest Series and Par Amount Series AAA -- $3,420,000 Series ZZ -- $4,150,000 Series YY -- $5,475,000 Series VV* -- $27,265,000 Series NN* -- $27,820,000 Series RR* -- $45,300,000 Uninsured Total -- $113,430,000 15. One William Street Capital Management, L.P., on behalf of certain funds it manages or advises 299 Park Ave., Fl. 25 New York, NY 10171 Nature and Amount of Disclosable Economic Interest Series and Par Amount Series 2013A -- $710,000 Series 2012A -- $15,040,000 Series CCC -- $6,335,000 Series AAA -- $2,415,000 Series ZZ -- $22,365,000 Series XX -- $9,355,000 Series WW -- $1,050,000 Series VV* -- $28,695,000 Series TT -- $21,125,000 Series SS* -- $26,180,000 Series A4 -- $685,000 Series B4 -- $11,541,790 Series E1 -- $11,566,367 Series E2 -- $9,935,000 Series PP* -- $43,605,000 Series MM* -- $1,615,000 Uninsured Total -- $212,218,157 16. RUSSELL INVESTMENT COMPANY, on behalf of RUSSELL INVESTMENT COMPANY TAX-EXEMPT HIGH YIELD BOND 1301 Second Avenue, 18th Floor Seattle, WA 98101 Nature and Amount of Disclosable Economic Interest Series and Par Amount Series 2013A -- $2,770,000 Series 2012A -- $2,190,000 Series EEE -- $190,000 Series DDD -- $50,000 Series CCC -- $895,000 Series AAA -- $1,655,000 Series ZZ -- $985,000 Series XX -- $7,745,000 Series WW -- $7,405,000 Series TT -- $4,930,000 Series SS* -- $2,000,000 Uninsured Total -- $30,815,000 Series VV (Insured)-- $100,000 Series UU Variable Rate Bonds (Insured) -- $2,560,000 Series NN (Insured) -- $355,000 Insured Total -- $3,015,000 Total -- $33,830,000 17. SIG Structured Products, LLC 401 E. City Avenue, Suite 220, Bala Cynwyd, PA 19004 Nature and Amount of Disclosable Economic Interest Series and Par Amount Series 2013A -- $500,000 Series 2012A -- $10,140,000 Series EEE -- $965,000 Series CCC -- $300,000 Series AAA -- $105,000 Series ZZ -- $15,000 Series YY -- $45,000 Series XX -- $2,055,000 Series WW -- $1,030,000 Series TT -- $920,000 Uninsured Total -- $16,075,000 18. T. Rowe Price, on behalf of certain funds and accounts it manages or advises 100 E. Pratt Street, BA 0754, Baltimore, MD 21202 Nature and Amount of Disclosable Economic Interest Series and Par Amount Series 2013A -- $36,355,000 Series 2012A -- $22,975,000 Series EEE -- $100,000 Series DDD -- $135,000 Series CCC -- $17,100,000 Series AAA -- $11,145,000 Series ZZ -- $27,499,000 Series XX -- $18,496,000 Series WW -- $24,695,000 Series VV -- $20,000 Series TT -- $35,300,000 Series UU Variable Rate Bonds -- $1,180,000 Series PP* -- $9,290,000 Uninsured Total -- $204,290,000 19. Tower Bay Asset Management LP, on behalf of certain funds and accounts it manages or advises 700 Canal Street, Ste 12E, Stamford, CT 06902 Nature and Amount of Disclosable Economic Interest Series and Par Amount Series 2012A -- $815,000 Series YY -- $1,925,000 Series SS* -- $3,070,000 Series PP* -- $3,150,000 Uninsured Total -- $8,960,000 20. Verition Fund Management LLC, on behalf of certain funds and accounts it manages or advises 1 American Ln, Greenwich, CT 06831 Nature and Amount of Disclosable Economic Interest Series and Par Amount Series 2013A -- $4,675,000 Series 2012A -- $20,000,000 Series CCC -- $2,320,000 Series BBB -- $2,240,000 Series ZZ -- $7,860,000 Series XX -- $5,315,000 Series A3 -- $2,790,000 Series B1 -- $1,275,072 Series B3 -- $2,790,000 Series B2 -- $6,432,788 Series E1 -- $301,931 Series E2 -- $301,930 Series E3 -- $79,711 Series E4 -- $78,830 Uninsured Total $56,460,262 Counsel for the PREPA Ad Hoc Group: Dora L. Monserrate-Penagaricano, Esq. Fernando J. Gierbolini-Gonzalez, Esq. Richard J. Schell, Esq. MONSERRATE SIMONET & GIERBOLINI, LLC 101 San Patricio Ave., Suite 1120 Guaynabo, PR 00968 Tel: (787) 620-5300 Fax: (787) 620-5305 E-mail: dmonserrate@msglawpr.com fgierbolini@msglawpr.com rschell@msglawpr.com - and - Stephen D. Zide, Esq. G. Eric Brunstad, Jr., Esq. David A. Herman, Esq. DECHERT LLP 1095 Avenue of the Americas New York, NY 10036 Tel: (212) 698-3500 Fax: (212) 698-3599 E-mail: eric.brunstad@dechert.com stephen.zide@dechert.com david.herman@dechert.com About the Commonwealth of Puerto Rico; Puerto Rico Electric Power Authority (PREPA) PREPA is a self-governing commonwealth in association with the United States. The chief of state is the President of the United States of America. The head of government is an elected Governor. There are two legislative chambers: the House of Representatives, 51 seats, and the Senate, 27 seats. The governor-elect is Ricardo Antonio Rossello Nevares, the son of former governor Pedro Rossello. In 2016, the U.S. Congress passed PROMESA, which, among other things, created the Financial Oversight and Management Board and imposed an automatic stay on creditor lawsuits against the government, which expired May 1, 2017. The members of the oversight board are: (i) Andrew G. Biggs, (ii) Jose B. Carrion III, (iii) Carlos M. Garcia, (iv) Arthur J. Gonzalez, (v) Jose R. Gonzalez, (vi) Ana. J. Matosantos, and (vii) David A. Skeel Jr. On May 3, 2017, the Commonwealth of Puerto Rico filed a petition for relief under Title III of the Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA). The case is pending in the United States District Court for the District of Puerto Rico under case number 17-cv-01578. A copy of Puerto Rico PROMESA petition is available at http://bankrupt.com/misc/1701578-00001.pdf On May 5, 2017, the Puerto Rico Sales Tax Financing Corporation (COFINA) commenced a case under Title III of PROMESA (D.P.R. Case No. 17-01599). Joint administration has been sought for the Title III cases. On May 21, 2017, two more agencies; Employees Retirement System of the Government of the Commonwealth of Puerto Rico and Puerto Rico Highways and Transportation Authority (Case Nos. 17-01685 and 17-01686) commenced Title III cases. U.S. Chief Justice John Roberts named U.S. District Judge Laura Taylor Swain to preside over the Title III cases. The Oversight Board has hired as advisors, Proskauer Rose LLP and Neill & Borges LLC as legal counsel, McKinsey & Co. as strategic consultant, Citigroup Global Markets as municipal investment banker, and Ernst & Young, as financial advisor. Martin J. Bienenstock, Esq., Scott K. Rutsky, Esq., and Philip M. Abelson, Esq., of Proskauer Rose LLP; and Hermann D. Bauer, Esq., at O'Neill & Borges LLC are onboard as attorneys. Prime Clerk LLC is the claims and noticing agent. Prime Clerk maintains the case Web site https://cases.primeclerk.com/puertorico Jones Day is serving as counsel to certain ERS bondholders. Paul Weiss is counsel to the Ad Hoc Group of Puerto Rico General Obligation Bondholders. QUEENS MEDICAL: Arthur Peabody, Jr. Named PCO --------------------------------------------- The U.S. Trustee for Region 2 appointed Arthur Peabody, Jr. to serve as patient care ombudsman in Queens Medical Services, PC's Chapter 11 case. The appointment follows an order from the U.S. Bankruptcy Court for the Eastern District of New York directing the Justice Department's bankruptcy watchdog to appoint a PCO who will monitor the quality of care provided to patients by Queens Medical Services. Section 333 of the Bankruptcy Code directs that a PCO be appointed if a debtor is a health care business unless the court finds that the appointment of such ombudsman is not necessary for the protection of patients. The ombudsman is responsible for monitoring the quality of patient care and representing the interest of patients of the healthcare debtor. The PCO can be reached through: Arthur E. Peabody, Jr. 600 Cameron Street Alexandria, VA 22314 (703) 798-1002 arthurpeabody@mindspring.com About Queens Medical Services PC Queens Medical Services, PC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.Y. Case No. 26-41085) on March 6, 2026, with up to $50,000 in assets and $100,001 to $500,000 in liabilities. Judge Jil Mazer-Marino presides over the case. Erica T. Itzhak, Esq., at The Yitzhak Law Group represents the Debtor as counsel. RAD DIVERSIFIED: Gets Extension to Use Cash Collateral ------------------------------------------------------ RAD Diversified REIT, Inc. and its affiliated debtors received another extension from the U.S. Bankruptcy Court for the Middle District of Florida to use cash collateral. Under the order, the Debtors are permitted to use cash collateral to pay operating expenses outlined in a five-week budget filed with the court, subject to a 10% variance per line item. Any additional spending must be approved in writing by secured creditors. As protection, secured creditors are granted perfected post-petition lien replacement liens in rents from each of their respective properties to the same extent and with the same validity and priority as their respective prepetition lien (if any), without the need to file or execute any document as may otherwise be required under applicable non bankruptcy law. Fay Servicing, LLC, Selene Finance LP, and NewRez, LLC filed objections to the Debtor's motion to use cash collateral. The Debtors are prohibited from using cash collateral in the form of rents collected from any of the properties identified in the objections for any purpose other than paying ordinary and necessary post-petition expenses associated with the parcel. The provisions of this order are without prejudice to the rights of the U.S. Trustee to appoint a committee or any rights of a duly appointed committee or the Debtors to challenge the validity, priority or extent of any lien(s) asserted against cash collateral. A continued hearing is scheduled for July 14. The order is available at https://urlcurt.com/u?l=WIsJ2u from PacerMonitor.com. The Debtors' primary source of revenue is rent collected from tenants across their properties. Tenants make payments through the property management platform AppFolio, which deposits the funds electronically into a pooled bank account belonging to one of the Debtors, RAD REIT, held at Fifth Third Bank. This account functions as a central repository for rental income from multiple properties. At the time of the bankruptcy filing, the account held approximately $8,223.75, and by March 5, an additional $53,373 in rent had been deposited. Based on historical rent collections, the Debtors expect to receive roughly $90,000 per month in post-petition rental income. Because the rents from multiple properties are commingled in a single account, it is not possible to trace specific funds to individual tenants or properties. The properties generating these rents are subject to mortgages held by various lenders. Each mortgage agreement contains an assignment-of-rents clause, which means that the mortgage holders may have a legal interest in the rental income produced by their respective properties. Under 11 U.S.C. Section 552(b), those mortgagees may claim an interest in the post-petition rental income generated by the properties securing their loans. However, the Debtor stated that no other pre-petition liens attach to these post-bankruptcy rents, making the listed mortgagees the only parties with a potential interest in the rental income. 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 RESTRUCTURI RAD DIVERSIFIED: Seeks to Sell Philadelphia Properties at Auction ----------------------------------------------------------------- RAD Diversified REIT, Inc. seek permission from the U.S. Bankruptcy Court for the Middle District of Florida, Tampa Division, to sell Property, free and clear of liens, claims, interest, and encumbrances. The Debtor's Property is located at 5538 Linmore Avenue, Philadelphia, PA, 5540 Linmore Avenue, Philadelphia, PA, and 5544 Linmore Avenue, Philadelphia, PA. On March 27, 2026, the Office of the United States Trustee appointed an official committee of unsecured creditors. The Debtor is the record title owner of the Property. The Property consists of three separate parcels of real property in Philadelphia, Pennsylvania, each of which is improved with a single-family home. The total tax assessed value of the Property is $223,700.00. The City of Philadelphia Department of Revenue may assert an interest in certain parcels of the Property for unpaid real property taxes for 2023 through 2025. The City of Philadelphia Department of Revenue may assert an interest in certain parcels of the Property for unpaid real property taxes for 2023 through 2025. The Debtor, by and through its Chief Restructuring Officer, Katie Goodman, in an exercise of her reasonable business judgment, has determined that it is in the best interests of the Debtor and the estate to sell the Property at public auction. The Debtor employs Soldnow, LLC d/b/a Tranzon Driggers (TD). The term "Surcharge Amount" shall be an amount equal to the greater of 10% of the winning bid or $10,000.00, up to a maximum of $20,000.00. TD shall market the Property for public auction. The auction date(s) shall be one or more dates selected by TD that is at least four weeks but not more than eight weeks after the Sale Order. The closing shall occur within 30 days after the auction or within ten business days after the Sale Confirmation Order becomes final and nonappealable. The Debtor seeks authority to sell the Property through an Auction and related sale process, subject to the Debtor's right to seek an alternative course of action to maximize the value of its estate. The Debtor respectfully requests the Bankruptcy Court to hold an expedited hearing on the Motion so that the marketing process can begin and the auction process concluded promptly. The Property is not subject to a mortgage and is generating minimal income. The value of the Property will be tested through the Auction conducted pursuant to and according to the bid procedures set forth in the Auction Motion. The sale of the Property should be found to be in good faith if the Debtor can demonstrate the transaction occurred at arm’s-length and without fraud or collusion. 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. RANGE IMPACT: Enters $10 Million Tacora Stock Purchase Pact ----------------------------------------------------------- Range Impact, Inc. announced agreements tied to a potential $10 million common stock purchase by Tacora Capital, LP and a $4 million subsidiary loan, according to a Form 8-K filing with the Securities and Exchange Commission. Tacora agreed to purchase up to $10 million of Range Impact common stock in 12 consecutive monthly installments beginning May 31, 2026, based on a volume-weighted average price. The first common stock issuance closed on May 31, 2026, pursuant to which the Company issued Tacora 6,256,704 shares of the Company's common stock in exchange for $1,750,000. Each of the eleven subsequent monthly investments will be $750,000. Range Cumberland, LLC, a wholly owned indirect subsidiary, agreed to advance up to $4 million to Cumberland Coal Corp. The loan bears 10% annual interest, is secured by collateral and matures May 31, 2031, or earlier upon acceleration. The company said Range Cumberland entered a subordination agreement with Tacora and Cumberland Coal tied to a $25 million contingent performance note. About Range Impact Range Impact, Inc. acquires, reclaims and repurposes mine sites and other undervalued land, with a focus on economically disadvantaged communities in Appalachia. The company targets large mine sites with legacy reclamation obligations, conducts reclamation activities to obtain bond release, and seeks to create long-term recurring revenue through third-party leases for next-generation land uses. Range Impact, Inc. is headquartered in Cleveland, Ohio, with additional offices in Fola, West Virginia, and Myra, Kentucky. In an audit report dated March 30, 2026, Meaden & Moore, Ltd. included a going concern paragraph stating that the company has suffered recurring losses from operations that raised substantial doubt about its ability to continue as a going concern. As of March 31, 2026, Range Impact reported total assets of $121.97 million, total liabilities of $85.86 million and total stockholders' equity of $36.11 million in its latest Form 10-Q. READY ROOFING: Seeks to Hire Bryan K. Mickler as Attorney --------------------------------------------------------- Ready Roofing LLC seeks approval from the U.S. Bankruptcy Court for the Middle District of Florida to employ Bryan K. Mickler as attorney. The firm will represent the Debtor in the bankruptcy proceeding and perform all legal services for the Debtor which may be necessary. The firm will be paid at these rates: Bryan K. Mickler $300 to 400 per hour In addition, the firm will seek reimbursement for its out-of-pocket expenses. Mr. Mickler disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Bryan K. Mickler 5452 Arlington Expressway Jacksonville, FL 32211 Tel: (904) 725-0822 Fax: (904) 725-0855 Email: bkmickler@planlaw.com About Ready Roofing LLC Ready Roofing is a Jacksonville, Florida-based roofing company that provides residential and commercial roofing services. The company offers roof installation, repair, replacement, inspections, storm damage restoration, commercial roof coatings, maintenance, and emergency roofing services. It works with asphalt shingle, metal, tile, TPO, and EPDM roofing systems across Northern Florida communities. Ready Roofing LLC filed a Chapter 11 bankruptcy petition (Bankr. M.D. Fl. Case No. 3:26-bk-002480) on June 1, 2026. The Debtor hires Law Offices of Mickler & Mickler, LLP as counsel. REVI EXPRESS: Employs Law Offices of Louis S. Robin as Counsel -------------------------------------------------------------- Revi Express, Inc. seeks approval from the U.S. Bankruptcy Court for the District of Massachusetts to employ the Law Offices of Louis S. Robin to serve as legal counsel. The firm will provide these services: (a) draft the Debtor's motions and orders concerning necessary pleadings to continue the Chapter 11 Case; (b) counsel and assist the Debtor in the resolution of its financial problems and the implementation of a Plan of Reorganization; (c) provide legal advice with respect to the powers and duties of the debtor in possession in the continued operation of its business; (d) assist the Debtor in compliance with the requirements of the United States Trustee; (e) prepare, on behalf of the Debtor, necessary motions, orders, complaints, answers, notices, and other legal documents and pleadings; and (f) perform other related legal services for the Debtor which may be necessary. Louis S. Robin, Esq. will receive compensation at an hourly rate of $325. The firm also received a $6,500 retainer, with $1,000 remaining after application of prepetition fees and expenses totaling $5,539.50. The Law Offices of Louis S. Robin is a "disinterested person" within the meaning of Section 327 of the Bankruptcy Code, according to court filings. The firm can be reached at: Louis S. Robin, Esq. LAW OFFICES OF LOUIS S. ROBIN 1200 Converse Street Longmeadow, MA 01106 Telephone: (413) 567-3131 Facsimile: (413) 565-3131 E-mail: louis.robin.bankruptcy@gmail.com About Revi Express Inc. Revi Express Inc. is a transportation and logistics company engaged in freight and delivery services. Revi Express Inc. sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-40615) on May 26, 2026. In its petition, the Debtor reports estimated assets between $0 and $100,000 and estimated liabilities between $100,001 and $1 million. The Debtor is represented by Louis S. Robin, Esq. of Law Offices of Louis S. Robin. RMA CA: Hires Thomas B. Ure as General Bankruptcy Counsel --------------------------------------------------------- RMA CA Inc seeks approval from the U.S. Bankruptcy Court for the Central District of California to employ Thomas B. Ure as general bankruptcy counsel. The firm will provide these services: a. advise the Debtor regarding matters of bankruptcy law and concerning the requirement of the Bankruptcy Code, and Bankruptcy Rules relating to the administration of this case, and the operation of the Debtor's estate as a debtor in possession; b. represent the Debtor in proceedings and hearings in the court involving matters of bankruptcy law; c. assistance in compliance with the requirements of the Office of the United States trustee; d. provide the Debtor legal advice and assistance with respect to the Debtor's powers and duties in the continued operation of the Debtor's business and management of property of the estate; e. assist the Debtor in the administration of the estate's assets and liabilities; f. prepare necessary applications, answers, motions, orders, reports and/or other legal documents on behalf of the Debtor; g. assist in the collection of all accounts receivable and other claims that the Debtor may have and resolve claims against the Debtor's estate; h. provide advice, as counsel, concerning the claims of secured and unsecured creditors, prosecution and/or defense of all actions; and i. prepare, negotiate, prosecute and attain confirmation of a plan of reorganization; The firm will be paid at these rates: Thomas B. Ure $495 per hour Associates $395 per hour Law clerks $225 per hour Paralegals $195 per hour The firm received $7,000 from the Debtor and $9,738 from Debtor's CEO Rayan Aydinian. As of today, $7,791.65 of the retainer funds remain unexhausted. In addition, the firm will seek reimbursement for its out-of-pocket expenses. Mr. Ure disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Thomas B. Ure, Esq. Ure Law Firm 8280 Florence Avenue, Suite 200 Downey, CA 90240 Tel: (213) 202-6070 About RMA CA Inc. RMA CA, Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Cal. Case No. 2:26-bk-13916-VZ) on April 22, 2026. In the petition signed by Rayan Aydinian, owner, the Debtor disclosed up to $500,000 in assets and up to $1 million in liabilities. Judge Vincent P. Zurzolo oversees the case. Thomas B. Ure, Esq., at Ure Law Firm, represent the Debtor. ROOTED ENTERPRISE: Seeks Cash Collateral ---------------------------------------- Rooted Enterprise, LLC asks the U.S. Bankruptcy Court for the Southern District of Texas, Houston Division, for authority to use cash collateral and provide adequate protection. The Debtor needs to use cash collateral to fund ongoing operations related to its ownership of a 12,359-square-foot commercial property located in College Station, Texas. The property is co-owned by Stephanie and Steve Shoemake and is encumbered by a first lien mortgage held by Prosperity Bank and a second lien held by the U.S. Small Business Administration, both of which assert security interests in the property, associated rents, and related collateral. Rooted's sole business is owning and leasing the property to BCS Peas in a Pod Learning Center, LLC, a daycare entity owned by co-owner Stephanie Shoemake, under a triple-net lease requiring approximately $22,000 in monthly rent plus taxes, insurance, and maintenance; however, actual collections have averaged significantly lower and PIAP ceased payments as of October 2026, causing default under the secured loans and triggering foreclosure proceedings. The Debtor explains that Prosperity Bank filed multiple UCC-1 financing statements asserting broad liens over Rooted's real and personal property, while the SBA holds a junior security interest in the property and related assets. The Prosperity loan, originally $1.76 million and later modified to $2.073 million, carries interest at 7.75% and matures in 2044, with current monthly payments of approximately $17,018; the SBA 504 loan totals $1.668 million with a 25-year term and escalating payment structure, and is also in default. Both lenders are oversecured by liens on the real estate and associated rents, which constitute cash collateral. Rooted argues that immediate use of cash collateral is essential to avoid irreparable harm, including cessation of operations and loss of reorganization value. It proposes a 30-day interim budget and anticipates lender consent, but seeks court approval if consent is not obtained. In exchange for use of cash collateral, the Debtor proposes granting replacement liens on postpetition assets, particularly accounts receivable, to the extent of any diminution in collateral value, consistent with adequate protection requirements under 11 U.S.C. sections 361 and § 363(e). The Debtor emphasizes that without access to cash collateral, the value of the estate would rapidly deteriorate, harming all stakeholders, including secured lenders whose collateral position would likely worsen. A copy of the motion is available at https://urlcurt.com/u?l=rCD9tk from PacerMonitor.com. About Rooted Enterprise LLC Rooted Enterprise LLC is a limited liability company engaged in commercial and operational business activities in Texas. Rooted Enterprise LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-33356) on May 11, 2026. In its petition, the Debtor reported estimated assets between $1 million and $10 million and estimated liabilities between $1 million and $10 million. Honorable Bankruptcy Judge Jeffrey P. Norman handles the case. The Debtor is represented by Elyse M. Farrow, Esq. and Melissa Anne Haselden, Esq. of Haselden Farrow PLLC. RTM LOGISTICS: Case Summary & 20 Largest Unsecured Creditors ------------------------------------------------------------ Debtor: RTM Logistics Solutions, LLC 7001 Anpesil Drive, F7 North Bergen, NJ 07047 Business Description: RTM Logistics Solutions is a North Bergen, New Jersey-based logistics company that provides freight transportation and logistics services, including full truckload, less-than-truckload and managed logistics offerings, for businesses requiring domestic freight movement and logistics coordination. Chapter 11 Petition Date: June 7, 2026 Court: United States Bankruptcy Court District of New Jersey Case No.: 26-16581 Judge: Hon. Vincent F Papalia Debtor's Counsel: Douglas J. McGill, Esq. WEBBER McGILL LLC 110 E. Hanover Avenue, Suite 401 Cedar Knolls, NJ 07927 Tel: (973) 739-9559 Fax: (973) 739-9575 E-mail: dmcgill@webbermcgill.com Estimated Assets: $0 to $50,000 Estimated Liabilities: $1 million to $10 million The petition was signed by Daniel Vogel as sole 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/TD7LGQY/RTM_Logistics_Solutions_LLC__njbke-26-16581__0001.0.pdf?mcid=tGE4TAMA RUNITONETIME LLC: To Close 2 Washington Cardrooms in Summer ----------------------------------------------------------- The Seattle Times reports that Maverick Gaming will close two Washington cardrooms this summer, eliminating 123 jobs as the casino operator continues navigating Chapter 11 bankruptcy proceedings. The affected properties are Silver Dollar Mill Creek Casino in Bothell and Crazy Moose Mountlake Casino in Mountlake Terrace, both of which are expected to shut their doors on July 31, 2026. State workforce filings show that 123 employees will be laid off, including 41 workers from the Bothell location and 82 from the Mountlake Terrace property. The reductions span gaming, food service, security and administrative positions. The latest closures add to a series of operational cutbacks undertaken by Maverick since filing for bankruptcy protection in 2025. The company has already closed several Washington gaming venues as it works to address financial pressures and restructure its business. Company officials had initially postponed the shutdowns while exploring potential asset sales. However, after negotiations with prospective buyers failed to produce a transaction, Maverick elected to proceed with the closures and workforce reductions, according to report. About RunItOneTime LLC RunItOneTime LLC, formerly known as Maverick Gaming LLC, headquartered in Kirkland, Washington, is a regional casino and cardroom operator across Washington State, Nevada, and Colorado. The company operates a portfolio of 31 properties, with 1,800 slot machines, 350 table games, 1,020 hotel rooms, and 30 restaurants. Maverick was founded in 2017 by Eric Persson and Justin Beltram, who hold over 70% ownership in the company. RunItOneTime LLC and 67 affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 25-90191) on July 14, 2025. In its petition, RunItOneTime estimated assets and liabilities between $100 million and $500 million each. Judge Alfredo R. Perez oversees the cases. The Debtors tapped Latham & Watkins LLP as counsel; and Hunton Andrews Kurth LLP, as bankruptcy co-counsel. The Debtors also engaged GLC Advisors & Co., LLC and GLC Securities, LLC, as investment banker, and Triple P TRS, LLC as financial advisor. The Debtors' tax advisor is KPMG LLP. RXO INC: S&P Affirms 'BB' ICR Following Review, Outlook Negative ---------------------------------------------------------------- S&P Global Ratings affirmed its 'BB' issuer credit rating on RXO Inc. and its 'BB' issue-level rating on its unsecured notes. The negative outlook reflects the risk that the company will be unable to increase its relative profitability or improve its credit measures to the levels S&P believes are necessary to stabilize the rating. Freight market conditions have demonstrated early signs of improvement, but it now places greater emphasis on the company's ability to achieve higher margi ns based on its evolving view of its business risk. S&P Global Ratings has completed its review of RXO Inc., including the company's position relative to other rated freight brokers. S&P anticipates that RXO will improve its credit metrics over the next two years, led by higher spot market prices that it expects will support increased earnings amid early signs of improvement in freight market conditions. However, the company's margins have lagged those of its rated logistics provider peers, which has prompted us to downwardly revise S&P's assessment of its business risk profile (BRP). In addition, it is unclear if the recent rebound in trucking pricing is sustainable. Revised BRP assessment reflects weaker operating performance through the freight market downturn that began in late 2022. RXO has experienced a significant contraction in both its margins and earnings amid the freight downturn. Specifically, the company's S&P Global adjusted EBITDA--which peaked at $366 million in 2022 (7.8% EBITDA margin pro forma for transaction costs related to the carve out from XPO)--declined to $177 million in 2025 (3.1% EBITDA margin), even as it nearly doubled the revenue from its brokerage segment following its late-2024 acquisition of Coyote Logistics. The decline in RXO's earnings has been relatively more pronounced than at its rated peers in the sector. S&P said, "While we previously viewed the company as an industry leader in terms of its margin profile, its performance over the past three years has caused its margins to decline to levels consistent with or below those of its broader rated peer group (including WWEX UNI and Echo Global). As such, we no longer consider RXO's operating performance track record as supportive of a higher BRP assessment." RXO relies on 6-12 month contracts with its enterprise customers while anticipating higher-margin spot trucking business from these clients during periods of high demand. However, during the past several years, minimal spot volumes and intermittent increases in capacity procurement costs--which the company was unable to fully pass through to its clients due to existing contractual obligations--led to a significant contraction in its margin and heightened earnings sensitivity. Despite this, we believe RXO is well positioned to leverage its significant scale as a leading brokerage and harness its extensive proprietary data to unlock procurement efficiencies as market conditions evolve. Furthermore, we expect its established relationships with large enterprise customers will serve as a key factor in securing high-quality business. While S&P can't rule out the potential for a relative improvement in its performance amid recent signs of rebounding freight market conditions, the sustainability of this improvement remains uncertain given its past margin declines and the nascent stage of the current market recovery. Freight brokers are poised to benefit from excess trucking capacity exiting the industry, though it's still early. Trucking rates have risen by more than 30% year to date due, in part, to stricter enforcement of English proficiency requirements and tightened regulatory scrutiny of non-domicile commercial driver's licenses. Increased fuel prices from the Iran conflict have also contributed to these increases, which is making it difficult to evaluate the true strength of the recovery. S&P said, "That said, we are cautiously optimistic that the recent rebound represents the beginning of a gradual (and sustainable) improvement in truck pricing. We note the improvement in the pricing environment is stemming primarily from the supply side rather than volumes, which remain sluggish. While the Cass freight index, a measure of demand, has contracted for over three years--including declining by approximately 5% year over year through the first four months of 2026--other indicators are showing signs of improvement. Specifically, the load-to-truck ratio and tender-rejection index have reached the low-teen percent levels, marking four-year highs and signaling a sharp inflection following a prolonged period of softness. Continued regulatory enforcement could exert further upward pressure on rates, though we believe there could be some risk of drivers re-entering the industry now that they can operate more profitably, which could stall (and cap) the current rate recovery." S&P said, "We believe RXO could begin to improve its earnings starting in the second half of 2026, underpinned by a recent favorable shift in its brokerage segment's volume mix. In the first quarter of 2026, the company improve its full truckload spot mix by 600 basis points (bps) year over year as it lapped additional spot loads, project loads, and mini-bids from customers seeking immediate capacity. We believe RXO could further improve its spot mix over the remainder of the year, supporting further earnings upside. Additionally, management's technology-focused initiatives, including its launch of a proprietary spot bot and accelerating agentic AI deployments, could enhance its productivity and spur margin expansion. We forecast RXO's earnings, cash flow, and credit metrics will gradually recover starting in 2026 and continuing on into 2027. Specifically, we expect the company will expand its funds from operations (FFO) to debt to the low-20% range in 2026 (up from 17% in 2025) and to the mid-20% area by 2027. "That said, the stabilization of the rating is now also contingent on a relative margin outperformance. While we expect a sector-wide recovery to bolster the earnings and metrics of participants across the broader freight brokering landscape, our rating remains predicated on RXO demonstrating greater and sustained relative strength in its earnings trajectory relative to its immediate peer group. If we no longer believe the company can differentiate itself from its peer group, we would likely lower our rating by removing the positive comparable rating adjustment. "We also acknowledge the early stage of the recovery and several competing factors that could influence the sustainability of the improvement. For example, the recent U.S. Supreme Court ruling addressing broker liability (Montgomery v. Caribe Transport II, LLC) will likely lead to higher insurance costs across the industry. This will likely be more impactful for smaller brokers with larger brokers positioned to potentially take market share. Offsetting these positives, protracted macroeconomic uncertainty and higher oil prices may begin to weigh on freight demand. "The negative outlook reflects the risk that the company will be unable to increase its relative profitability or improve its credit measures to the levels we believe are necessary to stabilize the rating. Freight market conditions have demonstrated early signs of improvement, but we now place greater emphasis on the company's ability to achieve higher margins based on our evolving view of its business risk. "We could lower our ratings on RXO over the next 12 months if we believe it will not expand its earnings and margins beyond those of its closest freight brokering peers or we estimate its FFO to debt will remain at or below 20%. In this scenario, we would view the company's ability to capitalize on macroeconomic conditions as being commensurate with its other rated peers, with no tangible improvement in its market position relative to our view of its standing in 2022 (prior to the recent freight recession). "We could revise our outlook on RXO to stable if we believe it can leverage its scale, established customer relationships, and technological capabilities to capture tailwinds from improving market conditions, thereby steadily increasing its earnings at a faster pace than its peers. In this scenario, we would also expect the company to improve its FFO to debt well above 20% on a sustained basis." SAIG LAUNDRY: Gets Final OK to Use Cash Collateral -------------------------------------------------- Saig Laundry, LLC received final approval from the United States Bankruptcy Court for the Northern District of Texas, Dallas Division, to use cash collateral. Under the final order, the Debtor is authorized to use cash collateral in accordance with a 90-day operating projection, with any future amendments requiring court approval or creditor consent. Individual budget line items may exceed projections by up to 15%, provided total disbursements do not exceed projected aggregate spending by more than 10% without further court approval. The budget projects total operational expenses of $47,199. As adequate protection, Clean Laundry Funding was granted replacement liens on post-petition cash collateral, accounts receivable, and related proceeds to the extent its collateral value declines due to the Debtor's use of cash collateral. The Debtor must also make monthly adequate protection payments of $5,800 beginning this month, maintain insurance coverage, keep laundry equipment in good repair, and provide monthly operating reports, budget-to-actual variance reports, and other reasonable financial information upon request. The order establishes a carveout protecting payment of court fees, U.S. Trustee fees, approved professional fees, and Subchapter V trustee expenses. The Debtor retains the right to challenge the validity, amount, priority, or enforceability of CLF's claims and liens. The Debtor's authority to use cash collateral will terminate upon events such as dismissal or conversion of the case, appointment of a Chapter 11 trustee, unauthorized use of cash collateral, failure to maintain insurance, failure to make adequate protection payments after notice, or failure to provide required reporting. The order became effective immediately upon entry and remains in force unless modified by the court. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/UYFsX from PacerMonitor.com. About Saig Laundry LLC Saig Laundry, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Texas Case No. 26-30980) on March 6, 2026, with $100,001 to $500,000 in assets and $500,001 to $1 million in liabilities. Judge Michelle V. Larson presides over the case. Manolo R. Santiago, Esq., at Herrin Law, PLLC represents the Debtor as bankruptcy counsel. SD FOOD MART: Case Summary & Eight Unsecured Creditors ------------------------------------------------------ Debtor: SD Food Mart, LLC 81 Route 10 East Unit# 4 Randolph, NJ 07869 Business Description: SD Food Mart, LLC is a Randolph, New Jersey- based convenience store operator. Chapter 11 Petition Date: June 8, 2026 Court: United States Bankruptcy Court District of New Jersey Case No.: 26-16606 Debtor's Counsel: Daniel Straffi, Jr., Esq. STRAFFI AND STRAFFI LLC 670 Commons Way Toms River, NJ 08755 Tel: (732) 341-3800 Fax: (732) 341-3548 Email: bkclient@straffilaw.com Estimated Assets: $0 to $50,000 Estimated Liabilities: $1 million to $10 million The petition was signed by Saima Darr as president. A full-text copy of the petition, which includes a list of the Debtor's eight unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/XDVGXUI/SD_Food_Mart_LLC__njbke-26-16606__0001.0.pdf?mcid=tGE4TAMA SEASHORE PROPERTIES: Gets Extension to Access Cash Collateral ------------------------------------------------------------- Wayne K.T. Mau, the Chapter 11 trustee for Seashore Properties, LLC and affiliated debtors, received another extension from the U.S. Bankruptcy Court for the District of Hawaii to use cash collateral. Under the seventh interim order, the trustee is authorized to use pre-petition cash collateral in line with an approved budget pending a further hearing. The Debtor may exceed budgeted amounts by up to 20%. As adequate protection, Hawaii State Federal Credit Union, 49 Hana, LLC and the U.S. Small Business Administration will be granted replacement liens on post-petition collateral, with the same priority as their pre-petition liens. In addition, Hawaii State Federal Credit Union will receive monthly payments of $15,000. These measures are intended to safeguard the creditors' interests while the Debtors continue to use the collateral. The order is available at https://shorturl.at/V3iUz from PacerMonitor.com. The court set deadlines for additional filings, requiring supplemental pleadings by June 22 and responses by June 25. A further interim hearing is scheduled for June 29. HSFCU is represented by: Jonathan W.Y. Lai, Esq. Thomas H. Yee, Esq. Watanabe Ing, LLP A Limited Liability Law Partnership First Hawaiian Center 999 Bishop Street, Suite 1250 Honolulu, HI 96813 Telephone: (808) 544-8300 Facsimile: (808) 544-8399 jlai@wik.com; tyee@wik.com About Seashore Properties Seashore Properties, LLC, doing business as Paia Inn, operates a boutique hotel located at 93 Hana Highway in Paia on the island of Maui, Hawaii. The inn provides upscale lodging accommodations that blend contemporary amenities with local design elements, offering rooms and suites equipped with modern conveniences such as private baths, Wi-Fi, and air conditioning. Situated in Maui's North Shore beach town, the property serves both leisure and business travelers seeking personalized hospitality and proximity to local dining, shopping, and coastal attractions. Seashore Properties filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. D. Hawaii Case No. 25-00952) on October 24, 2025, with between $10 million and $50 million in both assets and liabilities. Judge Robert J. Faris presides over the case. Chuck C. Choi, Esq., at Choi & Ito represents the Debtor as legal counsel. Wayne T.K. Mau is the Chapter 11 trustee appointed in the Debtor's case. SHALEPUMPS LLC: Case Summary & 20 Largest Unsecured Creditors ------------------------------------------------------------- Debtor: Shalepumps, LLC 5615 Clara Road Houston, TX 77041 Business Description: Shalepumps, LLC manufactures oil-and-gas completion equipment, including frac pumps, drilling mud pumps, well-service pumps, horizontal directional drilling pumps, mud pump fluid end modules and related powered packages. Founded in 2011 and based in Houston, Texas, the company also provides pump testing, fabrication and welding services for frac operators, drilling contractors and well-service companies. Chapter 11 Petition Date: June 8, 2026 Court: United States Bankruptcy Court Northern District of Texas Case No.: 26-42521 Judge: Hon. Mark X Mullin Debtor's Counsel: J. Robert Forshey, Esq. VARTABEDIAN KATZ HESTER & HAYENES LLP 301 Commerce St. te 2200 Forth Worth TX 76102 Tel: (817) 877-4212 E-mail: bobby.forshey@vkhh.com Estimated Assets: $100,000 to $500,000 Estimated Liabilities: $1 million to $10 million The petition was signed by Audrey Loweth as independent executor of the Estate of Peyton D. Waters, Deceased, the sole holder of Class A Units in, and Board of Managers of, Shalepumps, LLC. 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/4ZWOBYY/SHALEPUMPS_LLC__txnbke-26-42521__0003.0.pdf?mcid=tGE4TAMA A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/ZBFOYYI/SHALEPUMPS_LLC__txnbke-26-42521__0001.0.pdf?mcid=tGE4TAMA SHORT PAR 4: Daniel Etlinger Named Subchapter V Trustee ------------------------------------------------------- The Acting U.S. Trustee for Region 21 appointed Daniel Etlinger of Underwood Murray, P.A. as Subchapter V trustee for Short Par 4, LLC. Mr. Etlinger will be paid an hourly fee of $350 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Etlinger 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 E. Etlinger Underwood Murray, P.A. 100 N. Tampa Street, Suite 2325 Tampa Florida 33602 (813) 540-8401 Email: detlinger@underwoodmurray.com About Short Par 4 LLC 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. Short Par 4 sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 26-04747) on June 2, 2026, with $1 million to $10 million in both assets and liabilities. Judge Caryl E. Delano presides over the case. Matthew B. Hale, Esq. at Stichter, Riedel, Blain & Postler represents the Debtor as legal counsel. SIFI NETWORKS: Deadline for Panel Questionnaires Set for June 15 ---------------------------------------------------------------- The United States Trustee is soliciting members for committee of unsecured creditors in the bankruptcy case of SiFi Networks America LLC. If a party wishes to be considered for membership on any official committee that is appointed, it must complete a questionnaire available at https://tinyurl.com/2eeupxxn and return by email it to Jon Lipshie -- jon.lipshie@usdoj.gov -- at the Office of the United States Trustee so that it is received no later than 4:00 p.m., on Monday, June 15, 2025. If the U.S. Trustee receives sufficient creditor interest in the solicitation, it may schedule a meeting or telephone conference for the purpose of forming a committee. About SiFi Networks 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. SiFi Networks sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Lead Case No. 26-10912) on June 5, 2026. The petition was signed by Jacen Dinoff as chief restructuring officer. In the petition, the Debtor reported estimated total assets of $1 million to $10 million and estimated liabilities of $10 million to $50 million. The Hon. Brendan Linehan Shannon presides over the Debtor's case. Cole Schotz P.C. represents the Debtor as its bankruptcy counsel. KCP Advisor Group LLC serves as the Debtor's restructuring advisor, Sherwood Partners Inc. acts as the Debtor's sales agent, and Stretto Inc. serves as the Debtor's claims and noticing agent. SIMAD HOLDINGS: Voluntary Chapter 11 Case Summary ------------------------------------------------- Lead Debtor: SIMAD Holdings, Ltd. 50 Quality Street, #110357 Trumbull, CT 06611 Business Description: SIMAD owns and operates a portfolio of 30- day and sleepaway summer camps located primarily in the eastern United States, including New Jersey, New York, Maine, and Pennsylvania. Operating in the summer camp sector since 2006, the company's camps generally run from June through August and enroll approximately 20,500 children annually. SIMAD's camps offer programs across sports, academics, arts, technology, and religion, with each camp separately branded and independently operated through its own management, staff, accounting, and operational infrastructure. Court: United States Bankruptcy Court District of New Jersey Fifty-seven affiliates that concurrently filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code on June 4, 2026: Debtor Case No. ------ -------- SIMAD Holdings, Ltd. (Lead Case) 26-16388 Rolling Hills Operatingco LLC 26-16377 Rolling Hills Landco LLC 26-16379 Country Roads Operatingco LLC 26-16381 Country Roads Landco LLC 26-16382 Eagle's Landing Day Camp LLC 26-16384 Meadowbrook Operatingco LLC 26-16385 Meadowbrook Landco LLC 26-16386 Mill Road Landco LLC 26-16387 Intermediate SIMAD 1 LLC 26-16389 SIMAD Equities LLC 26-16390 Achim Landco LLC 26-16391 BAHS Holdings LLC 26-16392 Achim Operatingco LLC 26-16393 BAHS Operating Inc. 26-16394 Banner Landco LLC 26-16395 Banner Operatingco LLC 26-16396 Belgrade Lakes Summer Camps LLC 26-16397 Bluestar Landco, LLC 26-16398 Camp Med-O-Lark, Inc. 26-16399 Bluestar Operatingco, LLC 26-16400 Chateaugay Landco LLC 26-16401 Club Getaway Operatingco, LLC 26-16402 Chateaugay Campco LLC 26-16403 Green Lane Operatingco, LLC 26-16404 Club Getaway Landco, LLC 26-16405 IAFALANDCO, LLC 26-16406 Island Lake Campco LLC 26-16408 Green Lane Landco, LLC 26-16409 Kiwi Operatingco LLC 26-16410 Greenvilleland LLC 26-16411 Waukeela Operatingco LLC 26-16412 IAFAOPERATINGCO, LLC 26-16414 MaineWekeelaco, LLC 26-16415 Mesorahco LLC 26-16416 Island Lake Landco LLC 26-16417 Mogenavco LLC 26-16418 Lavco LLC 26-16419 Mohawkcampco LLC 26-16420 Pine Forest Campco LLC 26-16421 Lavland LLC 26-16422 Poland Campco LLC 26-16423 Malka Operatingco LLC 26-16424 RDM Camps, LLC 26-16425 Shab Operating Inc. 26-16426 Mesorahland LLC 26-16427 Washington Lake, LLC 26-16428 Mogenavland LLC 26-16429 Wekeeland LLC 26-16430 Mohawkland LLC 26-16431 WM Land, LLC 26-16432 Pine Forest Landco LLC 26-16433 WM Camp, LLC 26-16434 Poland Landco LLC 26-16435 Waukeela Landco LLC 26-16436 Summit Camp, LLC 26-16437 Shab Holdings LLC 26-16438 Affiliates that filed voluntary Chapter 11 petitions on June 5, 2026: One Canal Place Leasing LLC 26-16549 One Canal Place Real Estate LLC 26-16550 Quadstar Realty LLC 26-16567 Mohawk Country Day School, Inc. 26-16568 Judge: Hon. Christine M Gravelle 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. Debtors' Claims, Notice, 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 Assaf Ravid 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/VSYEYGY/SIMAD_Holdings_Ltd__njbke-26-16388__0001.0.pdf?mcid=tGE4TAMA SIMPLY INTERIOR: Case Summary & 30 Largest Unsecured Creditors -------------------------------------------------------------- Lead Debtor: Simply Interior Homes, LLC 3042 Southcross Boulevard, Suite 102 Rock Hills SC 29730 Business Description: Simply Interior Homes operates a home textiles and home decor business based in Rock Hill, South Carolina. The company designs, sources, and supplies soft goods, including fashion bedding, window treatments, bath products, decorative textiles, and related home furnishings, for major retailers and retail partners. Simply Interior Homes was formed in early 2025 in connection with the carve-out of soft goods business divisions from Keeco, LLC. Chapter 11 Petition Date: June 8, 2026 Court: United States Bankruptcy Court District of Delaware Seven affiliates that concurrently filed voluntary petitions for relied under Chapter 11 of the Bankruptcy Code: Debtor Case No. ------ -------- Simply Interior Homes, LLC (Lead Debtor) 26-10922 Simply Interior Homes AcquisitionCo, LLC 26-10923 SIH Beckham Buyer, LLC 26-10924 SIH HSD Holdings, LLC 26-10925 SIH BB Holdings, LLC 26-10926 SIH DMD Holdings, LLC 26-10927 SIH SR Holdings, LLC 26-10928 Judge: Hon. Craig T Goldblatt Debtors' General Bankruptcy Co-Counsel: L. Katherine Good, Esq. Brett M. Haywood, Esq. James R. Risener III, Esq. Sheridan T. Hill, II, Esq. POTTER ANDERSON & CORROON LLP 1313 North Market Street, 6th Floor Wilmington, Delaware 19801 Tel: (302) 984-6000 Fax: (302) 658-1192 Email: kgood@potteranderson.com bhaywood@potteranderson.com jrisener@potteranderson.com shill@potteranderson.com Debtors' General Bankruptcy Co-Counsel: Kizzy L. Jarashow, Esq. Barry Z. Bazian, Esq. Yelizaveta ("Liza") Burton, Esq. Artem Skorostensky, Esq. GOODWIN PROCTER LLP The New York Times Building 620 Eighth Avenue New York, New York 10018-1405 Tel: (212) 813-8800 Fax: (212) 355-3333 Email: kjarashow@goodwinlaw.com bbazian@goodwinlaw.com lburton@goodwinlaw.com askorostensky@goodwinlaw.com Debtors' Financial Advisor: REFLECT ADVISORS, LLC Debtors' Sales Agent: ROCK CREEK ADVISORS, LLC Debtors' Claims & Noticing Agent: EPIQ CORPORATE RESTRUCTURING, LLC Estimated Assets: $100 million to $500 million Estimated Liabilities: $100 million to $500 million The petitions were signed by Adam Zalev as chief restructuring officer. A full-text copy of the Lead Debtor's petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/EDMOQ7Q/Simply_Interior_Homes_LLC__debke-26-10922__0001.0.pdf?mcid=tGE4TAMA Entity Nature of Claim Claim Amount 1. Sigma Vietnam Industrial Trade $3,010,254 Co., Ltd O/A 90 Av-Avi Giao Long Industrial Park II An Phuoc Commune Chau Thanh District Ben Tre 930000 Vietnam Tel: (84) 913 133 662 Email: info@sigma-vn.com 2. Nantong Farady Textile Co Ltd Trade $2,877,362 West Chuangang Chuanjiang Town Tongzhou District Jiangsu Nantong City China Email: keecoorder@faradytextile.com 3. Zhenjiang Deli Textile Trade $2,824,255 Products Co Ltd 202 Yangzi Middle Road Jiangsu Yangzhong 212200 China Email: dl@chenlfz.com 4. Osaley Home Fashions Trade $2,656,239 Co., Ltd - Samoa Level2 Lotemau Centre Vaea Street Apia Samoa Email: wanling@chingfeng.com 5. Orient International Holding Trade $1,987,213 Shanghai Foreign Trade Co., Ltd Floor 6-12, Suite B Orient International Building 85 Lou Shan Guan Road Shanghai China Email: yanyanqian2021@163.com 6. United Linens Limited Trade $1,685,659 No 63 Haier Road Suite 701 Bldg 1 Qingdao China Tel: 86-532-55579399 Email: biz@unitedlinens.net 7. Qingdao Brilliantex Co. Ltd Trade $992,342 No. 9 Zhangzhou Er Road Qingdao China Email: sales@unitedlinens.net 8. ITS Logistics Trade $656,217 50 W Liberty St Suite 401 Reno, NV 89501 Tel: (775) 501-3375 Email: zwest@its4logistics.com 9. Kapoor Industries Limited Trade $638,105 12th Milestone Village Machroli G.T Road Panipat, Haryana 132103 India Tel: +91 180-257-2800 Email: rahul.guleri@zaubacorp.com 10. Jones Day Trade $597,623 250 Vesey Street New York, NY 10281-1047 Tel: (212) 326-3939 Email: dcrossgrove@jonesday.com 11. Jiangsu Skymade Textile Trade $579,916 Technology Co., Ltd South Nanhuan Road Dazhong Industrial Park Dafeng China Tel: 15851014421 Email: shirleylu@jinyuetex.com 12. U.S. Customs Trade $512,075 P.O. Box 100769 Atlanta, GA 30384 Tel: (877) 227-5511 Email: michelle.zebrowski@cbp.dhs.gov 13. Faze Three Limited Trade $381,553 Opp. Government School Gohana National Highway 71 A Vill-Mehrana Distt. Panipat 132103 India Tel: 918976817579 Email: rutvik.kamble@fazethree.com 14. All Strong Industry USA Inc Trade $358,604 326 Paseo Tesoro Walnut, CA 91789 Tel: (770) 237-0036 Email: choward@allstrongusa.com 15. All Blinds Co., Ltd. Trade $326,327 9F, No.91, Nan King East Road Sec.3, ROC Taipei 10487 Taiwan Tel: 575-89175706 Email: sherry@abcblinds.com.tw 16. Welspun Global Brands Limited Trade $314,387 Welspun House 6th Floor Senapati Bapat Marg Lower Parel (West) Kamala City Mumbai 400013 India Tel: 919664452989 Email: shreeram_sharma@welspun.com 17. Yantai Pacific Home Fashion Trade $305,439 Co., Ltd. No. 28 Yingfu Road Fushan District Yantai Shandong China Tel: 0086-535-8013918 Email: phf-keecoorder@pacifichomefashion.net 18. Huizhou Huiyang District Trade $250,504 Guangdi Industrial Co., Ltd Xinxing Industrial Zone Changbu Village Xinwei Town Huiyang 516223 China Tel: 07523532835 Email: office@grandichina.com 19. SVM Global Trade $187,847 D-45 & 46, Sector 63 UP Noida 201301 India Tel: 9711302650 20. Nantong Well Textile Science Trade $126,144 and Technology Co. Ltd O/A90 Industrial Park Wujia Town Tongzhou District Nantong China Email: yijiaren@ntwellfz.com 21. Fedex Trade $122,420 1250 Tom Hall St Fort Mill SC 29715 Tel: (901) 818-7500 Email: gabriel.beyl@fedex.com 22. Blake, Cassels & Graydon LLP Trade $121,807 199 Bay Street Suite 4000 Toronto, ON Canada Tel: (416) 863-2400 Email: melanie.nash@blakes.com 23. Laufer Group International Ltd. Trade $116,325 PO Box 780977 Philadelphia, PA 19178-0977 Tel: (562) 628-1111 Email: mabubakar@laufer.com 24. GDR Home Fashions Pvt. Ltd Trade $115,172 Shimla Molana Road Sec-40 Babarpur Panipat 132103 India Tel: 0091 9896333035 Email: divay@gdrhomefashions.com 25. Mohan Spintex India Limited Trade $84,191 Plot No. 16, Sy.Nos. 11/1,11/3,11/4,11/7,11/8 Mohan Spintex India Ltd, Unit 4 Bapulapadu Mandal, Model Industrial Park Mallavalli, Andhra Pradesh 521111 India Tel: 0866-2972740 Email: md@mohanspintex.com 26. Crowe LLP Trade $78,750 320 East Jefferson Blvd. South Bend, IN 46601 Tel: (800) 599-2216 Email: michael.lux@crowe.com 27. Zhejiang Yuanzheng Fabric Trade $65,569 Art Co., Ltd 99 Binjiang Road Yuyue Town Deqing County Huzhou China Tel: 86 571 26282126 Email: echo@yuanzhengfabric.com 28. Circana Trade $64,174 203 N. Lasalle St Suite 1500 Chicago, IL 60601 Tel: (312) 726-1221 Email: accounts.receivable.us@circana.com 29. Sun Dragon Logistics Inc Trade $63,735 376 Lemon Creek Drive Suite B Walnut, CA 91789 Tel: (626) 600-7188 Email: info@sundragonlogistics.com 30. Huazhen Logistics Inc. Trade $59,249 1377 Piemonte Dr Pleasanton, CA 94566 Email: opusa@huazhen-logging.com SIMPLY INTERIOR: Deadline for Panel Questionnaires Set for June 15 ------------------------------------------------------------------ The United States Trustee is soliciting members for committee of unsecured creditors in the bankruptcy cases of Simply Interior Homes, LLC, et al. If a party wishes to be considered for membership on any official committee that is appointed, it must complete a questionnaire available at https://tinyurl.com/4cmv63w8 and return by email it to Benjamin A. Hackman -- Benjamin.A.Hackman@usdoj.gov -- at the Office of the United States Trustee so that it is received no later than 4:00 p.m., on June 15, 2025. If the U.S. Trustee receives sufficient creditor interest in the solicitation, it may schedule a meeting or telephone conference for the purpose of forming a committee. About 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 and its affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del., Case No. 26-10922) on June 8, 2026. The petitions were signed by Adam Zalev as chief restructuring officer. The Debtors reported $100 million to $500 million in both estimated assets and liabilities. Potter Anderson & Corroon LLP and Goodwin Procter LLP represent the Debtors. The Debtors' financial advisor is Reflect Advisors LLC, their sales agent is Rock Creek Advisors LLC and their claims and noticing agent is Epiq Corporate Restructuring LLC. SIMPLY INTERIOR: Secures Approval to Tap $15MM Chapter 11 Loan -------------------------------------------------------------- Vince Sullivan of Law360 Bankruptcy Authority reports that Simply Interior Homes secured court approval for a $15 million debtor-in-possession loan, obtaining funding that will help finance its Chapter 11 restructuring and strategic review process. The Delaware bankruptcy court's ruling gives the company access to capital needed to sustain operations during the bankruptcy proceedings. The home textiles and decor maker is evaluating multiple options, including a sale of the company or a reorganization under a confirmed Chapter 11 plan. Management said the dual-track approach is designed to maximize value and provide flexibility as negotiations with creditors and potential buyers continue, according to report. The financing package will allow the debtor to meet operational needs while advancing its restructuring objectives. Company officials indicated that maintaining business continuity remains a priority as the Chapter 11 process unfolds and efforts to address its debt burden move forward, Law360 reports. 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 SKMGT PROPERTIES: Refinancing Proceeds & Contribution to Fund Plan ------------------------------------------------------------------ Skmgt Properties, LLC filed with the U.S. Bankruptcy Court for the Middle District of Florida a Disclosure Statement describing Plan of Reorganization dated June 1, 2026. The Debtor is a Delaware limited liability company originally formed in 2020 by Dr. Wanda Cruz. Dr. Cruz is a board-certified emergency medicine doctor. The name of the Debtor itself is derived from the initials of her children and nephew. The Debtor owns a 13,000 square foot, two-story medical complex located in Tampa, Florida (the "Property"). The purchase of the Property was the cornerstone of a larger investment by Dr. Cruz and certain non-medical investors to form a one stop "medical city" comprised of a VIP emergency /internal medicine medical practice, a health and wellness practice, a renal center for dialysis with the Debtor providing the real estate for the practices. The Debtor, filed this Chapter 11 case as a direct result of the conduct of its lender and equity participant, Perpetual Love Equities, LLC ("PLE" or "Perpetual Love"), controlled by Ms. Leila Centner, which systematically obstructed the Debtor's ability to refinance and satisfy its obligations, while simultaneously positioning itself to foreclose and capture substantial unearned value. The Plan designates Four Classes of Claims. There are two Classes of Secured Claims; and one Class of Unsecured Claims. The Plan provides the respective Holders of Allowed Administrative Claims, Allowed Priority Claims, and Allowed Priority Tax Claims, if any, will be paid in full on the Effective Date, over time as permitted by the Bankruptcy Code, or in accordance with the treatment specified herein. Class 3 consists of all Allowed General Unsecured Claims against the Debtor. The Debtor understands that Class 3 may include an investor or buildout-related Claim in the approximate amount of $1,000,000.00, subject to documentation, reconciliation, and allowance. Holders of Allowed Class 3 Claims shall receive no Cash distribution under this Plan. In full and final satisfaction, settlement, release, and discharge of their Allowed Class 3 Claims, Holders of Allowed Class 3 Claims shall receive, on a pro rata basis, thirty percent of the Reorganized Equity. If only one Class 3 Claim is Allowed, the Holder of that Allowed Class 3 Claim shall receive all Reorganized Equity allocated to Class 3. The issuance of Reorganized Equity shall be subject to the new or amended operating agreement of the Reorganized Debtor, applicable securities laws, transfer restrictions, and any further order of the Bankruptcy Court. The Class 3 treatment is intended as a debt-for-equity exchange. Upon the Effective Date and issuance of Reorganized Equity, the Allowed Class 3 Claims shall be discharged, released, and replaced by the rights associated with the Reorganized Equity issued under this Plan. Class 4 consists of all existing Equity Interests in the Debtor. On the Effective Date, all existing Equity Interests shall be cancelled, terminated, extinguished, and of no further force or effect. Holders of existing Equity Interests shall receive no distribution and shall retain no property on account of such Equity Interests. For the avoidance of doubt, any Equity Interest asserted by Leila Centner, Layla Centner, Perpetual Love, or any Centner-affiliated person or entity shall be cancelled and extinguished under this Plan. The Reorganized Equity issued to the Cruz New Equity Holder is issued in exchange for the New Value Contribution, refinancing support, continued management, and ongoing obligations described in this Plan and not on account of any cancelled prepetition Equity Interest. The Plan will be implemented through a combination of Refinancing Proceeds, New Value Contributions, continued preservation and operation of the Property, and the restructuring of the Debtor's equity interests. The Debtor intends to pursue refinancing of the Property and use the proceeds of such refinancing to pay the Allowed Secured Tax Claims of the Hillsborough County Tax Collector and the Allowed PLE Secured Claim on or before December 31, 2026. To the extent the Allowed PLE Secured Claim exceeds available Refinancing Proceeds, the Reorganized Debtor shall fund the shortfall through New Value Contributions from Dr. Wanda Cruz, the Cruz New Equity Holder, and/or the Class 3 New Equity Holder. A full-text copy of the Disclosure Statement dated June 1, 2026 is available at https://urlcurt.com/u?l=WyRUoj from PacerMonitor.com at no charge. Attorneys for the Debtor: Justin M. Luna, Esq. LATHAM, LUNA, EDEN & BEAUDINE, LLP 201 S. Orange Ave., Suite 1400 Orlando, Florida 32801 Tel: 407-481-5800 Fax: 407-481-5801 About Skmgt Properties, LLC Skmgt Properties, LLC is a real estate company engaged in property ownership and management activities. Skmgt Properties, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-02714) on April 2, 2026. In its petition, the debtor reports estimated assets between $1MM and $10MM and estimated liabilities between $1MM and $10MM. Honorable Bankruptcy Judge Luis Ernesto Rivera II handles the case. The debtor is represented by Justin M. Luna, Esq. of Latham, Luna, Eden & Beaudine, LLP. SKYLARK HOTELS: Unsecureds Will Get 1.30% of Claims over 60 Months ------------------------------------------------------------------ Skylark Hotels, Inc., d/b/a Empire Inn filed with the U.S. Bankruptcy Court for the Central District of California a Disclosure Statement in support of Plan of Reorganization dated June 1, 2026. The Debtor is a California corporation incorporated on or about May 31, 2019. Kalpesh Prafull Solanki is the sole director and sole officer of the Debtor, serving as its Chief Executive Officer, Chief Financial Officer, and Secretary, and is the sole shareholder, holding 100% of the equity interest in the Debtor. Mr. Solanki has held these positions since on or about 2019 and continues to oversee the Debtor's business and financial operations. Prior to the Debtor's incorporation, Mr. Solanki's parents, Prafull Solanki (deceased) and Madhu Solanki, operated a separate budget motel known as the "Central Inn Motel," located at 954 E. 88th Street, Los Angeles, California (the "Central Inn"), for approximately 25 years. In or about 2008, Prafull Solanki and Madhu Solanki transferred their interest in the Central Inn to MPS Hospitality LLC, a California limited liability company in which they each held a 50% ownership interest. On or about June 20, 2019, MPS Hospitality LLC transferred its interest in the Central Inn to the Debtor. In January 2021, the Debtor sold the Central Inn for approximately $3,000,000. In April 2021, using the proceeds from the sale of the Central Inn together with financing provided by New Omni Bank, N.A., the Debtor acquired its current property, an approximately 82 room budget motel located at 294 E. Hospitality Lane, San Bernardino, California 92408 (the "Property"), for approximately $9,000,000. The Property is the Debtor's primary asset and the primary source of its operating revenues. The Plan provides for the reorganization of the Debtor as a going concern. The Debtor will continue to operate the Empire Inn motel and will fund all Plan payments from its ongoing business operations and, during the initial three months following the Effective Date, from voluntary capital contributions by the Debtor's principal, Kalpesh Prafull Solanki. All creditors holding allowed claims will receive distributions in accordance with the priority scheme established by the Bankruptcy Code. Class 3 consists of General Unsecured Claims. Holders of allowed Class 3 general unsecured claims (totaling approximately $4,590,539.99) will receive pro rata distributions from a monthly payment pool that increases after the priority tax claims are paid in full, as follows: * For months through fifty-three following the Effective Date, the Reorganized Debtor will fund a monthly distribution pool of $765.09, distributed pro rata among holders of allowed Class 3 claims. * For months fifty-four through sixty, following payment in full of the priority tax claims, the monthly distribution pool will step up by $2,000, resulting in a stepped-up monthly distribution pool of $2,765.09, also distributed pro rata. Aggregate distributions to Class 3 over the sixty-month plan period will total approximately $59,905.40, representing approximately 1.30% of allowed Class 3 claims. Class 3 is impaired and is entitled to vote. Class 4 consists of Equity Interests. Kalpesh Prafull Solanki holds 100% of the equity interest in the Debtor. On the Effective Date, Mr. Solanki will retain his existing equity interest in the Reorganized Debtor. No distribution will be made to the holder of the Class 4 interest on account of such interest during the term of the Plan. Class 4 is unimpaired. The primary source of Plan funding is revenue generated from the Debtor's continued operation of the Empire Inn, including nightly and extended-stay room rentals to the general public and continued and anticipated growth in revenues from the County's Government Program. All Plan payments will be made by the Reorganized Debtor, which will continue under the management of Kalpesh Prafull Solanki as sole director and officer. During the initial three months following the Effective Date, the Debtor's principal, Kalpesh Prafull Solanki, shall contribute up to $20,000 per month, in an aggregate amount of $60,000 cumulative, to supplement the Reorganized Debtor's operating revenues and ensure the timely funding of Plan obligations, including, to the extent funds on hand are insufficient, the payment of allowed administrative expense claims (including the allowed fees and costs of Tang & Associates). A full-text copy of the Disclosure Statement dated June 1, 2026 is available at https://urlcurt.com/u?l=eGi0ED 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 Skylark Hotels Inc. Skylark Hotels, Inc. doing business as Empire Inn, owns and operates an 82-room budget motel located at 294 E. Hospitality Lane in San Bernardino, California, with a comparable sale value of about $6.5 million. Skylark Hotels sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Cal. Case No. 26-10787) on February 1, 2026. In the petition signed by Kalpesh Prafull Solanki, managing member, the Debtor disclosed $6,771,564 in total assets and $10,117,752 in total liabilities. Judge Magdalena Reyes Bordeaux oversees the case. Kevin Tang, Esq., at Tang & Associates represents the Debtor as counsel. SLEEP NUMBER: Seeks to Sell Sleep Wellness Business at Auction -------------------------------------------------------------- Sleep Number Corporation and its affiliates seek permission from the U.S. Bankruptcy Court for the Southern District of New York, to sell substantially all Assets at auction, free and clear of liens, claims, interests, and encumbrances. The Debtors seek approval of the bidding procedures and the related relief requested herein, which is designed to maximize value while creating a swift, efficient, and consensual path to confirming a chapter 11 plan. Sleep Number is the leader in personalized sleep wellness. Its mattresses are designed to evolve with each sleeper to help them feel and perform their best. With adjustable firmness, pressure-relieving support, and temperature-balancing comfort built into every mattress, Sleep Number beds adapt to customers' changing needs, night after night, year after year. Backed by over 40 years of innovation, over 1,000 patents and patents pending, and billions of hours of sleep data, Sleep Number has helped more than 16 million people achieve their best sleep. Headquartered in Minneapolis, Minnesota, Sleep Number employs approximately 2,920 employees and operates 572 Sleep Number stores with locations in 50 U.S. states. Beginning in February 2026, the Debtors, with the assistance of Guggenheim Securities, LLC as its investment banker, prepared marketing materials and contacted approximately 53 potential strategic and financial purchasers. The Debtors were successful in negotiating a going-concern sale transaction for the Assets with the Stalking Horse bidder, setting the floor for other potential bids to acquire the Assets during the Chapter 11 Cases. Under the Stalking Horse Agreement, the Stalking Horse Bidder has committed to acquire the Assets in exchange for a purchase price of $415,000,000 million and the assumption of certain liabilities on the terms and conditions set forth in the Stalking Horse Agreement. The Stalking Horse Bidder is an affiliate of Sleep Country Canada Inc., which is an established specialty sleep and wellness retailer with significant industry experience, a long operating history and a demonstrated track record of serving consumers across multiple channels. The Stalking Horse Bidder's familiarity with the sleep products sector, customer preferences, supply chain dynamics and retail operations positions it as a credible and well-qualified prospective owner of the Assets. The Debtors believe that the Stalking Horse Bidder's industry knowledge, operational capabilities and experience managing a large-scale retail platform support the viability of the Stalking Horse Bid and provide a strong foundation for a going-concern transaction that would facilitate continuity for customers, vendors and other stakeholders. To ensure that the Stalking Horse Bid is in fact the highest or otherwise best offer for the purchase of the Assets, the Debtors have developed Bidding Procedures to allow interested parties to submit competing bids for the Assets. The Debtors believe that their proposed sale process and the time periods in the Bidding Procedures are reasonable and will provide parties with sufficient time and information necessary to formulate bids to purchase the Assets. The Debtors believe that approval of the Bidding Procedures, entry into the Stalking Horse Agreement and the related relief requested in this Motion will allow the Debtors to efficiently maximize value and are in the best interests of the Debtor' estates and their stakeholders. The Stalking Horse Agreement includes various customary representations, warranties, and covenants by and from the Debtors and the Stalking Horse Bidder. The pertinent terms of the proposed Stalking Horse Agreement are also provided. https://urlcurt.com/u?l=wxDo3U The Debtors propose key dates and deadlines for the sale process to consummate a sale of the Assets as efficiently as practicable in accordance with the Stalking Horse Agreement. June 25, 2026 - Potential Assumption Notice Deadline July 2, 2026 - approval of Bidding Procedures July 8, 2026 at 4:00 p.m. - Bid Deadline July 10, 2026 at 4:00 p.m. - Sale Objection Deadline July 10, 2026 at 4:00 p.m. - Cure Objection Deadline July 13, 2026 at 10:00 a.m. - Auction if any July 15, 2026 - Hearting to consider approval of Sale Transaction July 31, 2026 - Closing of the Sale Transaction The Bidding Procedures were carefully designed to facilitate a flexible, robust, and competitive bidding process. The Debtors submit that the Successful Bidder would be a "good faith purchaser" within the meaning of section 363(m) of the Bankruptcy Code. About Sleep Number Corp. Sleep Number Corp., based in Minneapolis, Minnesota, is a leader in personalized sleep wellness. Its mattresses are designed to evolve with each sleeper to help them feel and perform their best. With adjustable firmness, pressure-relieving support, and temperature-balancing comfort built into every mattress, Sleep Number beds adapt to customers' changing needs, night after night, year after year. As of December 31, 2025, the Company had $680.06 million in total assets, $1.26 billion in total liabilities, and $578.48 million in total shareholders' deficit. SLEEP QUARTERS: To Sell Waxahachie Property to Bates Real Estate ---------------------------------------------------------------- Sleep Quarters Plus, Inc. seeks permission from the U.S. Bankruptcy Court for the Northern District of Texas, Dallas Division, to sell Property, free and clear of liens, claims, interests, and encumbrances. The Debtor is the owner of 1.37 acres of improved real property located at 500 N. Highway 77, Waxahachie, Texas. The Debtor requests the Court to enter an order authorizing the sale of the Property free and clear of all liens and encumbrances, and that such liens, claims and encumbrances attach to the sales proceeds. All property taxes will be paid at closing, along with the debt to Citizens National Bank. The title company will also pay at closing reasonable and necessary closing costs of sale, and any broker's commission allowed by the Court. This sale will pay 100% to all creditors having liens on the Property being sold. The Debtor wants to sell the Property to Bates Real Estate, LLC and/or Assigns for the purchase price of $1,500,000.00. The Debtor has thoroughly marketed the Property for sale by advertising, placing a sign on the property, and negotiating with prospective buyers. The Debtor will show at the hearing that it negotiated with all potential purchasers at arm's length, in good faith, and in an effort to achieve the best offer for the Property. The Debtor will also show that Buyer is entitled to the protections of a good-faith purchaser. About Sleep Quarters Plus Inc. Sleep Quarters Plus, Inc. specializes in the retail distribution of mattresses, bedding essentials, and bedroom furnishings. Based in Texas, the company offers an assortment of sleep-related products through its retail outlets, catering to customers looking for value-oriented and quality bedding options. Sleep Quarters Plus filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. N.D. Texas Case No. 25-34803) on December 2, 2025. In its petition, the Debtor reported $1 million to $10 million in both assets and liabilities. Honorable Bankruptcy Judge Scott W. Everett handles the case. The Debtor tapped Joyce W. Lindauer, Esq., at Joyce W. Lindauer Attorney, PLLC as legal counsel and Manning & Associates, PC as accountant. SLOAN SCHOOL: Hires Sturgill & Associates LLP as Accountant ----------------------------------------------------------- Sloan School Of Music, LLC seeks approval from the U.S. Bankruptcy Court for the District of Maryland to employ Sturgill & Associates, LLP as accountant and bookkeeper. The firm's services include: a. assisting the Debtor with monthly operating reports; b. preparing State and Federal tax returns; c. coordinating with the Debtor's attorneys in connection with the preparation of the Debtor's Plan; and d. providing such other financial services as may be necessary in the course of this bankruptcy case. The firm will be paid $500 per month for general bookkeeping services. In addition, the firm will seek reimbursement for its out-of-pocket expenses. Mr. Devlin disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Ryan Devlin Sturgill & Associates, LLP 20 Liberty Street Westminster, MD 21157 Tel: (443) 487-6562 Email: ryand@sturgillcpa.com About Sloan School of Music LLC Sloan School of Music, LLC is a Maryland-based music store and lesson provider with locations in Hagerstown and Frederick. Founded in 2019, it offers private lessons, group classes, master classes and bands, while also retailing instruments and accessories from brands including Fender, Yamaha and PRS Guitars. The company also operates an online store. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Md. Case No. 26-14152) on April 17, 2026. In the petition signed by David Sloan, as co-founder and chairman, the Debtor disclosed $215,479 in total assets and $1,253,609 in total liabilities. Matthew Abbott, Esq., at Wolff & Orenstein, LLC, represents the Debtor as legal counsel. SMART COUNSELING: Gets Interim OK to Use Cash Collateral -------------------------------------------------------- Smart Counseling and Mental Health Center Licensed Professional Clinical Counselor, Inc. received interim approval from the U.S. Bankruptcy Court for the Central District of California, Riverside Division, to use cash collateral. The Debtor is authorized to use cash collateral through June 30. As part of the adequate protection package, the Debtor must continue making its required loan payments to secured lender CDC Small Business Finance, including a payment of $3,333.08 due beginning this month. The court also granted CDC a replacement lien on all post-petition assets and revenues of the Debtor, effective retroactively to the May 13 petition date, to the same extent and priority as its prepetition liens. The court further granted similar replacement liens to the Debtor's merchant cash advance creditors. These replacement liens cover post-petition assets and revenues but are limited to the extent any secured creditor's cash collateral position is diminished by the Debtor's post-petition use of cash collateral. The liens do not extend to bankruptcy avoidance actions or related claims under the Bankruptcy Code. A continued hearing on the cash collateral motion is scheduled for June 25, and the Debtor must file and serve notice of that hearing. In addition, the Debtor is required to submit a supplemental weekly budget detailing income and expenditures by June 18. About Smart Counseling and Mental Health Center Smart Counseling and Mental Health Center Licensed Professional Clinical Counselor, Inc provides outpatient therapy services to individuals, couples, and families, with a focus on the veteran community. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Calif. Case No. 26-13810) on May 13, 2026. In the petition signed by Lean Smart, chief executive officer, the Debtor disclosed up to $50,000 in assets and up to $1 million in liabilities. Judge Scott H. Yun oversees the case. Larry D. Simons, Esq., at Janus Law, represents the Debtor as bankruptcy counsel. SMARTZ INC: Cash Collateral Hearing Set for June 16 --------------------------------------------------- U.S. Bankruptcy Court for the Central District of Illinois, Urbana Division, is set to hold a hearing on June 16 to consider extending Smartz Inc.'s authority to use cash collateral. The Debtor was previously authorized to access cash collateral from June 9 to 13 under the court's fifth interim order. The fifth interim order, entered on June 9, authorized the Debtor's use of cash collateral to fund its operations based on a court-approved budget. Smartz believes that keeping the business running preserves value, sustains revenue, and better serves creditors while cutting off cash access would trigger operational collapse, loss of staff and vendors, SaaS disruption, and a steep drop in enterprise value. The fifth interim order also granted secured creditors -- ICM Investment Partners II, LLC and ICM Investment Partners III, LLC -- a post-petition replacement lien on the same type of collateral that secured their pre-petition claims, with the same priority, validity, and enforceability as their pre-petition security interests. Aside from the ICM entities, the other creditors that may assert liens or security interests affecting cash collateral or related assets are EN OD Capital ($1,289,581), Aedly.ai Inc. ($1,000,275), WeBank/PEAC Solutions ($149,461), Square Advance ($105,551), OnDeck Capital ($98,645), Jaffe Capital ($94,013), Funding Futures ($93,750) and CFG Merchant Solutions ($98,644). A copy of the court's order and the Debtor's budget is available at https://shorturl.at/98VX6 from PacerMonitor.com. About Smartz Inc. Smartz Inc., based in Champaign, Illinois, develops property management software platforms that automate real estate operations, including leasing, tenant services, maintenance tracking, and financial management. Founded in 2021, the company integrates smart building and Internet of Things technologies, such as access control and security systems, into its platform. Its products are used by property owners and managers. Smartz sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Ill. Case No. 26-90240) on April 12, 2026, with up to $50 million in assets and up to $10 million in liabilities. Smartz President Kevin Wan signed the petition. Judge Mary P. Gorman oversees the case. William J. Factor, Esq., at The Law Office of William J. Factor, Ltd., represents the Debtor as bankruptcy counsel. SOUTHWEST FIRE: Court Extends Cash Collateral Access to June 30 --------------------------------------------------------------- Southwest Fire Defense, LLC received another extension from the U.S. Bankruptcy Court for the District of New Mexico to use cash collateral. The court extended the Debtor's authority to use cash collateral through June 30, including adequate protection for Kapitus, LLC and First Citizens Bank previously approved under the court's April 1 order. All other terms, protections, and requirements of the April 1 order remain in effect. The hearing on confirmation of the Debtor's Subchapter V plan is scheduled for June 17 and the parties agreed that the Debtor's authority to use cash collateral should be extended to cover the period including the hearing. The Debtor anticipates that approval will not be required beyond June 30. The order is available at http://bankrupt.com/misc/SouthwestFire_StipCCOrder.pdf About Southwest Fire Defense LLC Southwest Fire Defense, LLC provides emergency same-day hazard tree removal, tree trimming, stump grinding, defensible space creation and tree risk assessment services in the Santa Fe, New Mexico area. Founded in 2014 by former firefighter Daniel A. Martinez, the company offers free estimates. Southwest Fire Defense filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. D.N.M. Case No. 25-10924) on July 28, 2025. In its petition, the Debtor reported total assets of $706,464 and total liabilities of $1,530,318. Judge Robert H. Jacobvitz handles the case. The Debtor tapped Christopher M. Gatton, Esq., at Gatton & Associates, P.C. as legal counsel and Mark W. Ihlefed, CPA as accountant. Daniel Behles, Esq., at 709 Consulting, LLC serves as Subchapter V trustee for the Debtor. SP TRANS: Robert Handler Named Subchapter V Trustee --------------------------------------------------- The U.S. Trustee for Region 11 appointed Robert Handler of Commercial Recovery Associates, LLC as Subchapter V trustee for SP Trans, Inc. Mr. Handler 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. Handler declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Robert P. Handler Commercial Recovery Associates, LLC 205 West Wacker Drive, Suite 918 Chicago, IL 60606 Tel: (312) 845-5001 x221 Email: rhandler@com-rec.com About SP Trans Inc. SP Trans, Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 26-09401) on June 2, 2026, with $500,001 to $1 million in both assets and liabilities. Judge Michael B. Slade presides over the case. E. Philip Groben, III, Esq., at Gensburg Calandriello & Kanter, P.C. represents the Debtor as legal counsel. SPARHAWK TRUCKING: Warns Employees of Impending Mass Layoffs ------------------------------------------------------------ Emily Davies of 7 WSAW-TV reports that bankrupt transportation company Sparhawk Trucking has advised employees to prepare for possible mass layoffs as it searches for a buyer during its Chapter 11 proceedings. The Wisconsin Rapids-based carrier and its affiliate, Sparhawk Truck and Trailer Inc., submitted a WARN notice indicating that future workforce reductions or a closure remain possible despite ongoing operations. The notice emphasizes that no employee should rely on the company remaining open and that layoffs could become necessary if efforts to sell the business are unsuccessful. Although no timetable has been set, the companies stated that any layoffs would likely be permanent. The filing did not specify how many workers could be affected or which positions might be eliminated, the report relays. Sparhawk Trucking, a family-owned company established in 1979, cited several factors behind its financial difficulties. Bankruptcy documents point to leadership disruptions caused by health issues involving company president Mark Sparhawk, increased costs tied to truck repairs and operational delays, and legal challenges arising from a 2024 accident that allegedly resulted in a hazardous chemical release. Those pressures ultimately led the company to seek bankruptcy protection earlier this 2026, according to report. About Sparhawk Trucking Sparhawk Trucking is a Wisconsin-based family-owned trucking company. Sparhawk Trucking sought relief under Chapter 11 of the U.S. Bankruptcy Code Bankr. W.D. Wis. Case No. 26-10529) on March 13, 2026. In its petition, the Debtor reports estimated assets up to $50,000 and estimated liabilities between $10 million and $50 million. Honorable Bankruptcy Judge Catherine J. Furay handles the case. SPHERE 3D: Completes Cathedra Acquisition, Names New CEO -------------------------------------------------------- Sphere 3D Corp. completed its stock-for-stock acquisition of Cathedra Bitcoin Inc., making Cathedra a wholly owned subsidiary, according to a filing with the Securities and Exchange Commission. The court-approved plan of arrangement closed June 1 after approval by Cathedra securityholders, Sphere shareholders and the Supreme Court of British Columbia. The combined company retains Sphere 3D's name and Nasdaq listing under the ticker ANY. Sphere said holders of Cathedra subordinate voting shares received 0.123014 Sphere common shares for each Cathedra subordinate voting share, while holders of Cathedra multiple voting shares received 12.3014 Sphere common shares for each Cathedra multiple voting share. The company issued 2,405,300 common shares, 1,387,117 Series I preferred shares, restricted share units covering up to 178,073 common shares and warrants to purchase up to 115,867 common shares with exercise prices ranging from $11.08 to $272.40 a share. Sphere said the combined company's bitcoin mining operations and balance sheet include 53 megawatts of managed power capacity at five data centers across three U.S. states and 1.2 EH/s of installed proprietary mining hash rate. In connection with the closing, Joel Block was appointed chief executive officer, while Kurt Kalbfleisch resigned as chief executive officer and remained chief financial officer. Sphere also appointed Kalbfleisch, Marcus Dent, Block and Nicholas Gates to its board, and current director Timothy Hanley was appointed chairman, following prior shareholder approval. About Sphere 3D Sphere 3D Corp. operates a Bitcoin mining business and began those operations in January 2022. The company is focused on growing an enterprise-scale mining operation through mining equipment procurement and partnerships with experienced service providers. The company's latest annual report included auditor language stating that recurring losses from operations and an expectation that the company would not have enough cash on hand to fund operations raised substantial doubt about its ability to continue as a going concern. MaloneBailey, LLP signed the report dated March 27, 2026. As of March 31, 2026, the company reported total assets of $21.74 million, total current liabilities of $1.73 million and total stockholders' equity of $20.00 million. SPINNAKER VERO: Files Emergency Bid to Use Cash Collateral ---------------------------------------------------------- Spinnaker Vero, Inc. asks the U.S. Bankruptcy Court for the Southern District of Florida, West Palm Beach Division, for emergency authorization to use cash collateral and provide adequate protection. The Debtor argues that immediate access to cash collateral is necessary to pay ordinary operating expenses and administrative costs, maintain business continuity, and comply with U.S. Trustee requirements. Without access to these funds, the Debtor asserts it would face severe operational disruption. The Debtor identifies numerous potential secured creditors that may have liens on the Debtor's cash collateral, primarily based on UCC-1 financing statements. These include Newtek Bank, NA; Newtek Small Business Finance; Capital Infusion Direct LLC; multiple filings by C T Corporation System; multiple filings by Corporation Service Company; the U.S. Small Business Administration; UCC Filer 2; OnDeck Capital/ODK Capital; Flash Funding; and Verdant Commercial Capital. The Debtor notes that many of these liens appear to cover broadly defined collateral such as accounts, accounts receivable, inventory, equipment, and deposit accounts, with some uncertainty regarding overlapping or duplicative filings and the true underlying lenders. The Debtor proposes to use cash collateral solely for ordinary course operating expenses and administrative costs necessary to continue operations. It contends that such use is essential to prevent immediate harm to the estate and preserve value for creditors, including unsecured creditors. As adequate protection for any secured creditors, the Debtor offers replacement liens on post-petition assets to the same extent as prepetition liens, pursuant to Section 361 of the Bankruptcy Code, while expressly preserving all parties' rights to challenge the validity, priority, and extent of any liens. The Debtor is in the process of finalizing a budget to be submitted to the Court and requests interim authorization to use cash collateral pending further hearings, with notice and opportunity for objections, including participation by any future creditors' committee. A copy of the motion is available at https://urlcurt.com/u?l=1O1ARh from PacerMonitor.com. About Spinnaker Vero, Inc. Spinnaker Vero, Inc., doing business as Minuteman Press, operates a Vero Beach, Florida-based Minuteman Press International franchise that provides printing, copying, graphic design, signs, banners, promotional products and related marketing services to businesses, organizations and individual customers. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 26-17019) on May 28, 2026. In the petition signed by Steven Brunk, president, the Debtor disclosed $377,280 in assets and $5,392,972 in liabilities. Dana Kaplan, Esq., at KELLEY KAPLAN DELANEY & ELLER, PLLC, represents the Debtor as legal counsel. SPIRIT AIRLINES: Shutdown Spurs Career Resets of Workers -------------------------------------------------------- Doyinsola Oladipo of Reuters reports that thousands of former Spirit Airlines employees are scrambling to rebuild their careers following the airline's collapse in early May. The sudden shutdown came after the company failed to find a path out of its second bankruptcy, leaving workers across the organization searching for new opportunities. For employees like Orlando-based flight attendant Travis Arcamone, the transition has been especially abrupt. Arcamone was recognized as Flight Attendant of the Year shortly before Spirit ceased operations, underscoring how quickly the company's fortunes unraveled. The broader airline industry is offering limited relief. Carriers are reducing capacity growth to manage rising fuel costs, and many have already completed seasonal hiring plans. As a result, former Spirit workers may endure lengthy job searches and difficult career adjustments before returning to the skies, the report relays. About Spirit Aviation Holdings Inc. Spirit Aviation Holdings, Inc. and its subsidiaries operate Spirit Airlines, a U.S.-based low-cost carrier providing air transportation services across the United States, Latin America, and the Caribbean. They employ approximately 25,000 direct employees and independent contractors. Spirit Aviation Holdings and its subsidiaries sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. N.Y. Lead Case No. 25-11897) on August 29, 2025. In the petition signed by Frederick Cromer, authorized signatory, Spirit Aviation Holdings disclosed $8,576,287,000 in assets and $8,096,842,000 in liabilities as of June 30, 2025. Judge Sean H. Lane oversees the cases. The Debtors tapped Davis Polk & Wardwell, LLP as bankruptcy counsel; PJT Partners LP as investment banker; FTI Consulting, Inc. as restructuring, fleet and communications advisor; Debevoise & Plimpton, LLP as fleet counsel; Morris, Nichols, Arsht & Tunnell, LLP as conflicts counsel, and Ernst & Young, LLP as its audit and tax services provider. Epiq Corporate Restructuring, LLC is the claims, noticing, solicitation and administrative agent. The U.S. Trustee for Region 2 appointed an official committee to represent unsecured creditors in the Debtors' Chapter 11 cases. The committee tapped Willkie Farr & Gallagher, LLP as legal counsel; Alton Aviation Consultancy, LLC as specialized aviation advisor; Jefferies. LLC as investment banker; and AlixPartners, LLP as financial advisor. STARDUST POWER: Stockholders OK 2.6 Million-Share Plan Increase --------------------------------------------------------------- Stardust Power Inc. stockholders approved a 2.6 million-share increase to the company's 2024 Equity Incentive Plan at the 2026 annual meeting, according to a Form 8-K filing with the Securities and Exchange Commission. The approval amended and restated the plan and extended its term to April 8, 2036. Stockholders also elected six directors, ratified KNAV CPA LLP as the company's auditor for the fiscal year ending Dec. 31, 2026, and approved the issuance of common stock to Lind Global Asset Management XIII LLC under Nasdaq rules. Stockholders did not approve an amendment to Stardust Power's certificate of incorporation to clarify the director removal provision. The newly elected directors are Roshan Pujari, Anupam Agarwal, Charlotte Nangolo, Mark Rankin, Michael Earl Cornett Sr., and Sudhindra Kankanwadi, each to serve a one-year term expiring at the 2027 annual meeting of stockholders or until their successors are duly elected and qualified. About Stardust Power Stardust Power Inc., headquartered in Greenwich, Connecticut, is a U.S.-based development-stage battery-grade lithium manufacturer developing a large-scale lithium refinery in the United States for applications including energy storage systems, e-mobility, grid infrastructure and data centers. The company intends to source lithium chloride feedstock from various suppliers and may make investments upstream to secure additional feedstock. The company's most recent Form 10-K included going-concern language from its auditor. KNAV CPA LLP, in a March 25, 2026, report, said the company's operating losses, accumulated deficit, stockholders' deficit, expected significant future costs and reliance on additional capital or borrowings raise substantial doubt about its ability to continue as a going concern. As of March 31, 2026, Stardust Power reported total assets of $9.44 million, total liabilities of $17.30 million and total stockholders' deficit of $7.87 million in its latest Form 10-Q. STINGRAY COMPUTE: Fitch Assigns 'BB-(EXP)' IDR, Outlook Stable -------------------------------------------------------------- Fitch Ratings has assigned Stingray Compute LLC an expected Long-Term Issuer Default Rating (IDR) of 'BB-(EXP)' and its $810 million proposed senior secured notes a 'BB-(EXP)' rating. The Rating Outlook is Stable. The ratings reflect elevated completion and power supply risk for Stingray's high-performance computing (HPC) data center. Construction is at the early stage, and the project lacks a fixed-price construction contract. Power supply risk stems from reliance on new utility infrastructure. Cash flows in the initial lease term sufficiently amortizes debt under Fitch's rating case, eliminating lease renewal risk. Debt protections are weak for project finance and allow additional project debt. The Project Life Coverage Ratio (PLCR) at debt maturity is consistent with a higher rating, the rating remains constrained by completion risk and allowance for additional projects. The IDR is equalized with the debt rating because both rank senior and the structure has no subordinated liabilities. KEY RATING DRIVERS Completion Risk - Weaker Simple Construction, No GMP Elevated completion risk reflects sponsors' modest track record in developing HPC data centers, the absence of a GMP contract, and a tight implementation schedule. Self-performed construction reduces risk-transfer compared with a traditional contractor model. However, Quanta Services, which supports construction, has significant digital and energy infrastructure experience. As of May 2026, only about 61% of owner-furnished equipment had been secured, exposing the project to cost overrun risk. This is partly mitigated as under the lease. Amazon agrees to cover construction cost overruns above $10.5 million per IT MW, which provides a proxy cost cap. Although the project has an aggressive 13-month implementation schedule, the independent engineer considers it achievable. The lease allows delivery up to 180 days beyond the target completion date, with an additional 30-day cure period and up to 180 days for force majeure before tenant termination rights. A fully funded DSRA of approximately $45 million and prefunded construction-period interest provide some liquidity in a delay scenario. Supply Risk - Weaker Power Infrastructure Yet to be Constructed The project faces electricity supply risk due to reliance on new utility infrastructure. Stingray has a 100 MW facility extension agreement with Oncor Electric Delivery Company LLC (BBB+/Stable) that ERCOT has approved, with no pending approvals. The agreement will automatically terminate if customer facilities are not energized by May 15, 2027. This risk is mitigated by completed substation design, completed order of long-lead electrical equipment, and targeted substation completion in 4Q26, well ahead of the April 2027 deadline. Management communicates with Oncor and has indicated the agreement could be amended to accommodate potential delays if necessary. Revenue Risk - Stronger No Lease Renewal Risk; Amazon Lease Guarantee The project benefits from a 15-year triple-net lease to Amazon Data Services, Inc., with three five-year extension options and annual rent escalators. Lease payments are guaranteed by Amazon.com, Inc. (AA-/Stable). Cash flows from the lease are sufficient to fully amortize the debt in the initial lease term under the Fitch rating case assumptions, eliminating lease renewal risk. The absence of renewal risk combined with Amazon's full guarantee of base rent and operating expenses mitigates counterparty exposure during the debt's life. Operation Risk - Stronger Triple Net Lease, Operator's Limited Track Record This assessment reflects a triple-net lease that passes approximately 100% of operating expenses, taxes, insurance premiums, and non-recurring costs on the tenant. Lease payments and operating expenses are fully guaranteed by Amazon.com, Inc. While lease required upkeep of the substation, it does not include uptime, humidity or temperature service level agreements. The lease limits the tenant's termination rights to circumstances involving either more than 60 continuous days of uncured landlord-caused interference or more than 180 continuous days of loss of grid power not caused by the tenant. Infrastructure Development & Obsolescence Risk - Neutral Newly Built Data Center, Low Maintenance Exposure to technological obsolescence is limited, as debt can fully amortize within the lease term under Fitch's rating case. The core mechanical and electrical systems are expected to have useful lives extending beyond the initial 15-year lease term, reducing the likelihood of material capital requirements. The majority of repair and maintenance during the lease term is the responsibility of the tenant. Debt Structure - 1 - Weaker Refinance Risk, Additional Debt Allowance The senior secured notes mature in 2031, creating refinancing risk, particularly given the sponsors' limited refinancing track record. This risk is partly mitigated by the absence of reliance on lease renewals to repay debt and by liquidity support, including a fully funded DSRA sized to $45 million. While the issuer is subject to special purpose entity restrictions, debt provisions are weaker than typical project finance structures. Permitted debt baskets include a 50% of LTM NOI basket, an uncapped additional project debt basket for similar projects , and a project equity incremental amount basket that could increase loan to cost from 98% to 100% post-completion. High LTC during construction is mitigated by strong post-completion cash flows that strengthen sponsor alignment and completion incentives. Although the additional project debt basket is uncapped, the risk is partly mitigated pro forma DSCR test of 1.25 times and a qualified lease backstop from a counterparty rated at least 'AA-' for new project. However, the lease terms, completion profile, and operating risks of future projects remain unknown and could be materially weaker than those of the current project. The notes partially amortize through a cash sweep mechanism above a 1.25x DSCR, which is a stronger feature. Peer Analysis The closest peers are Cipher Compute LLC (BB-/Stable) and Black Pearl Compute LLC (BB-/Stable). While both face elevated completion risk and weaker debt provisions than typical project finance structures, both benefit from strong post-completion performance profiles supported by investment-grade lease guarantees. In comparison, Stingray Compute LLC's rating reflects similar construction completion risk and weaker debt provisions, with a strong operating performance profile supported by an Amazon lease guarantee. RATING SENSITIVITIES Factors that Could, Individually or Collectively, Lead to Negative Rating Action/Downgrade - Construction delays for any of the two phases including delays in the availability of electrical utility infrastructure, such as substations, that exceed allowable times as indicated in the lease terms, leading to potential tenant termination; - Degradation of the financial performance leading to sustained DSCR below 1.05x; - The rating could be downgraded if any additional project faces elevated completion risk from delays or cost overruns, or if it raises the existing project's completion risk due to interface issues. Factors that Could, Individually or Collectively, Lead to Positive Rating Action/Upgrade - Positive rating action is unlikely due to the risk associated with potential additional project debt allowance, and construction completion. Financial Profile Fitch's rating case assesses project cash flows over the initial 15-year lease term, incorporating stressed refinancing rates and assuming incremental debt up to 100% loan-to-cost post-completion as permitted under the description of notes. Under these assumptions, the PLCR at refinancing in year 5 (2031) is 1.61x with a five-year DSCR average at 1.25x. Although this PLCR is commensurate with a higher rating level, the rating remains constrained by the weaker completion risk assessment and allowance for additional projects and other debt in the debt structure. TRANSACTION SUMMARY Stingray Compute LLC, a wholly owned subsidiary of Cipher Digital, is issuing approximately $810 million of senior secured notes to fund construction of a 70 MW critical IT load (100 MW gross) purpose-built HPC data center in Andrews, TX. The total budgeted project cost is approximately $826 million, including about $735 million of capex, $38 million of capitalized interest during construction, a $45 million DSRA and $8 million in fees and expenses. Sources and uses reflect a 98% loan-to-cost ratio, resulting in $810 million in debt and $16 million in equity contribution net of $64 million of capex reimbursement. The data center comprises two phases — a 10 MW Network Hall and a 60 MW Data Hall — with rent commencing for each phase upon its completion. The campus is 100% pre-leased to Amazon Data Services, Inc. under a 15-year triple-net lease with rent payments and operating expenses unconditionally guaranteed by Amazon.com, Inc. (AA-/Stable). The assets, rights, responsibilities, and cash flows of the project are ring-fenced within a bankruptcy-remote special purpose entity. The final ratings are contingent upon the receipt by Fitch of final documents conforming to information already received and reviewed as well as the final pricing of the bonds. SECURITY The debt is secured by all assets other than excluded property, all revenues and lease cash flows, benefiting from a guarantee of rent payments and operating expenses payable through the lease term from Amazon.com, Inc. Date of Relevant Committee June 5, 2026 Climate Vulnerability Signals The results of Fitch's Climate.VS screener did not indicate an elevated risk for Stingray Compute LLC. ESG Considerations The highest level of ESG credit relevance is a score of '3', unless otherwise disclosed in this section. A score of '3' means ESG issues are credit-neutral or have only a minimal credit impact on the entity, either due to their nature or the way in which they are being managed by the entity. Fitch's ESG Relevance Scores are not inputs in the rating process; they are an observation on the relevance and materiality of ESG factors in the rating decision. Entity/Debt Rating ----------- ------ Stingray Compute LLC LT IDR BB-(EXP) Expected Rating Stingray Compute LLC/Senior Secured Debt/1 LT LT USD 810 mln bond/note 86083AAA4 LT BB-(EXP) Expected Rating STOLI GROUP: Trustee Gets Final OK to Use Cash Collateral --------------------------------------------------------- William Patterson, Chapter 11 trustee for Stoli Group (USA), LLC, received final approval from the U.S Bankruptcy Court for the Northern District of Texas, Dallas Division, to use cash collateral. Under the final order, the trustee is authorized to use cash collateral solely in accordance with an approved budget and any future supplemental budgets. The trustee is authorized to pay operating expenses, certain professional fees, and other approved costs, while also remitting adequate protection payments to Fifth Third Bank. Any sale or disposition of collateral generally must be for cash consideration unless the lender agrees otherwise. The trustee's authority to use cash collateral continues until the earliest of June 26, repayment of the pre-petition debt, consummation of a sale of substantially all assets, or a default under the order. Upon termination, Fifth Third Bank may exercise its remedies after notice, although the trustee retains limited authority to use cash collateral for approved expenses and carveout obligations. As adequate protection, Fifth Third Bank retains the protections granted under prior cash collateral orders and continues to hold rights against the collateral securing its pre-petition debt. The lender's super-priority claims remain senior to most other administrative claims, subject to the approved carveouts. The order also establishes a carveout for court fees, U.S. Trustee fees, trustee compensation, and approved professional fees, including a capped amount for post-termination professional expenses. A copy of the order is available at https://tinyurl.com/2x49kker from PacerMonitor.com. The budget is available at https://tinyurl.com/bdeax4px from PacerMonitor.com. As of the petition date, the Debtors' aggregate principal outstanding funded debt obligations total approximately $78,374,334.30. Fifth Third Bank holds valid, senior, perfected, and enforceable liens on the collateral, including cash proceeds and other cash equivalents, which constitute the lender's cash collateral. About Stoli Group (USA) LLC Stoli Group (USA), LLC is a producer, manager, and distributor of a global portfolio of spirits and wines. Stoli Group (USA) and Kentucky Owl, LLC filed Chapter 11 petitions (Bankr. N.D. Texas Lead Case No. 24-80146) on November 27, 2024. At the time of the filing, Stoli Group (USA) reported $100 million to $500 million in assets and $10 million to $50 million in liabilities while Kentucky Owl reported $50 million to $100 million in assets and $50,000,001 to $100 million in liabilities. Judge Scott W. Everett handles the cases. Holland N. O'Neil, Esq., at Foley & Lardner, LLP is the Debtor's legal counsel. Fifth Third Bank, N.A., as lender, is represented by: Brent McIlwain, Esq. Christopher A. Bailey, Esq. Holland & Knight, LLP 1722 Routh Street, Suite 1500 Dallas, TX 75201 Telephone: 214.969.1700 Email: brent.mcilwain@hklaw.com chris.bailey@hklaw.com -- and -- Jeremy M. Downs, Esq. Steven J. Wickman, Esq. Goldberg Kohn, Ltd. 55 East Monroe Street, Suite 3300 Chicago, IL 60603 Telephone: 312.201.4000 Email: jeremy.downs@goldbergkohn.com steven.wickman@goldbergkohn.com STRATEGIC PROPERTY: Jennifer Lyday Named Subchapter V Trustee ------------------------------------------------------------- John Paul Cournoyer, the U.S. Bankruptcy Administrator for the Middle District of North Carolina, appointed Jennifer Lyday as Subchapter V trustee for Strategic Property Management LLC. Ms. Lyday will be paid an hourly fee of $375 for her services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Ms. Lyday declared that she is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Jennifer B. Lyday 370 Knollwood Street, Suite 600 Winston-Salem, NC 27103 About Strategic Property Management Strategic Property Management LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D.N.C. Case No. 26-50469) on June 2, 2026, with up to $50,000 in assets and liabilities. Judge Lena M. James oversees the case. SUNDOWN AUDIO: Initiates Chapter 11 Bankruptcy in North Carolina ---------------------------------------------------------------- On June 9, 2026, Systematic Audio, LLC (d/b/a Sundown Audio) filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Western District of North Carolina. According to court filings, the Debtor reports between $10 million and $50 million in debt owed to creditors. About Systematic Audio, LLC Systematic Audio, LLC, doing business as Sundown Audio, is a Newton, North Carolina-based manufacturer of car audio equipment, including subwoofers, amplifiers, speakers, and related audio products. Systematic Audio, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-50236) on June 9, 2026. In its petition, the Debtor reports estimated assets of $10 million to $50 million and estimated liabilities of $10 million to $50 million. Honorable Bankruptcy Judge Laura T. Beyer handles the case. The Debtor is represented by Eric Steven Goodheart, Esq. of DLA Piper LLP US. SVK CAPITAL: Seeks Cash Collateral Access ----------------------------------------- SVK Capital, LLC asks the U.S. Bankruptcy Court for the Northern District of California for authority to use cash collateral and provide adequate protection. The cash collateral consists primarily of rental income generated from its commercial property located at 9645 Folsom Boulevard in Sacramento, California. SVK Capital states that it owns and operates the property, which includes multiple rental units currently leased to 13 tenants, producing approximately $33,887.95 in monthly rent. The Debtor proposes to use these rental proceeds to pay necessary operating expenses, including mortgage payments, insurance, property taxes, and maintenance costs, with any remaining net income to be remitted to the secured lender, JTS Capital 3 LLC. The Debtor identifies two primary secured creditors: JTS Capital 3 LLC, which holds a deed of trust and assignment of rents originally stemming from a $4.5 million loan from Tri Counties Bank (matured in December 2025 and later assigned to JTS), and the U.S. Small Business Administration, which holds a secured interest in the Debtor's personal property through properly filed UCC-1 financing statements. The SBA is owed approximately $341,905. The Debtor also notes that its principal, Srinivas Battu, and his spouse personally guaranteed the real estate loan and are the sole owners of the company. The Debtor explains that the Chapter 11 case was initiated primarily to stop a scheduled foreclosure on April 28, 2026. The Debtor values the Folsom Property at between approximately $5.4 million and $5.8 million and asserts it holds a 78% ownership interest, with a co-owner holding the remaining 22%. The Debtor also discloses limited additional liquidity, including approximately $8,288 in cash and $53,147 in tenant security deposits. It further acknowledges some tenant rent arrears due to COVID-era forbearance arrangements. Under the proposed cash collateral arrangement, SVK Capital commits to using funds strictly according to a budget attached to the motion, with a permitted variance of up to 10% per expense category unless further court approval is obtained. The Debtor argues that its proposed use of cash collateral is necessary to preserve the property's value, maintain operations, and protect the interests of secured creditors. It also asserts that adequate protection is provided through continued payments of net rents to JTS and the granting of replacement liens to the extent required. A copy of the motion is available at https://urlcurt.com/u?l=3BFkVT from PacerMonitor.com. About SVK Capital, LLC SVK Capital, LLC is a business entity that appears to operate as an investment or financial services firm, based on its corporate structure and name. SVK Capital, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ca. Case No. 26-40874) on April 27, 2026. In its petition, the Debtor reports estimated assets ranging from $1 million to $10 million and estimated liabilities ranging from $1 million to $10 million. Honorable Bankruptcy Judge William J. Lafferty handles the case. The Debtor is represented by Chris D. Kuhner, Esq. of Kornfield Nyberg Bendes Kuhner & Little. SWING ZONE: Seeks to Hire Kevin Smith as Accountant --------------------------------------------------- Swing Zone, Inc. and affiliate seeks approval from the U.S. Bankruptcy Court for the Southern District of Texas to employ Kevin Smith as accountant. The firm will assist in preparing and filing the Debtors' tax returns, providing related general accounting advice, and performing the Audit at my usual and customary rates. The firm will be paid $200 per hour. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Kevin Smith, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. About Swing Zone Inc. Swing Zone, Inc., doing business as Crust Pizza Co Heights, sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Texas Case No. 26-32026) on March 27, 2026. In the petition signed by John M. Reno, managing member, the Debtor disclosed up to $100,000 in assets and up to $10 million in liabilities. Lloyd A. Lim, Esq., at Kean Miller LLP, represents the Debtor as legal counsel. TAMKO BUILDING: S&P Rates New $415MM First-Lien Term Loan 'BB-' --------------------------------------------------------------- S&P Global Ratings assigned its 'BB-' issue-level and '3' recovery rating to TAMKO Building Products LLC's proposed $415 million first-lien term loan due 2030. At the same time, S&P raised the recovery rating on the company's existing $821 million first-lien term loan due 2030 (outstanding $802 million) to '3' from '4'. The '3' recovery rating indicates its expectation of meaningful (50%-70%; rounded estimate: 55%) recovery in the event of a payment default. TAMKO plans to use the proceeds from the proposed debt issuance to fund a dividend to its owners. S&P said, "While the proposed debt issuance will increase leverage to about 4.4x for 2026, we expect TAMKO to demonstrate solid operating performance, with free operating cash flow (FOCF) of over $70 million in 2026 and 2027. With about $50 million of cash on the balance sheet and full availability on the $225 million revolving credit facility as of March 2026, we do not anticipate any near-term liquidity issues and expect TAMKO will continue to allocate most of its FOCF to pay dividends and tax distributions on behalf of its owners. The company also plans to extend the maturity on its $225 million asset-based loan (ABL) revolver (unrated) to 2031 as part of the transaction." S&P's 'BB-' issuer credit rating and stable outlook on TAMKO are unchanged. Issue Ratings--Recovery Analysis Key analytical factors -- TAMKO's $415 million first-lien term loan due 2030 and $821 million first-lien term loan due in 2030 ($802 million outstanding) are rated 'BB-'. S&P's '3' recovery rating indicates its expectation for meaningful (50%-70%; rounded estimate: 55%) recovery in the event of a payment default. -- S&P assesses recovery prospects based on a gross reorganization value for TAMKO of approximately $839 million, reflecting about $152 million of emergence EBITDA and a 5.5x multiple. The multiple is within the 5x-6x S&P generally uses for building materials companies. -- S&P's simulated default contemplates a severe downturn in the company's end markets, heightened competition, and input cost increases (particularly asphalt) that cannot be passed on to customers. As a result, weaker margins and cash flow would pressure TAMKO's ability to meet its financial obligations, eventually prompting a bankruptcy filing or restructuring. -- S&P's recovery analysis assumes that in a hypothetical bankruptcy scenario, 60% of the company's $225 million ABL facility due 2031 (unrated) is drawn. Simulated default assumptions -- Year of default: 2030 -- EBITDA at emergence: $152 million -- EBITDA multiple: 5.5x -- Gross recovery value: $840 million Simplified waterfall -- Net recovery value (after 5% administrative expenses): $798 million -- Priority claims (ABL revolving credit facility): $135 million -- Remaining value: $663 million -- Estimated term loan claim: $1.2 billion --Expected recovery range: 50%-70% (rounded estimate: 55%) Note: All estimated debt claims include about six months' accrued but unpaid interest outstanding at the point of default. TEGETHOFF DEVELOPMENT: Case Summary & Three Unsecured Creditors --------------------------------------------------------------- Lead Debtor: Tegethoff Development, LLC 132 N. Brentwood Blvd. Saint Louis, MO 63105 Business Description: Tegethoff Development is a real estate development company based in St. Louis, Missouri, focused on multifamily, mixed-use and residential projects. Chapter 11 Petition Date: June 1, 2026 Court: United States Bankruptcy Court Eastern District of Missouri Three affiliates that concurrently filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code: Debtor Case No. ------ -------- Tegethoff Development, LLC (Lead Case) 26-42401 Tegethoff Development Co, LLC 26-42402 Pearl Capital Management Llc 26-42403 Debtors' Counsel: Robert Eggmann, Esq. CARMODY MACDONALD P.C. 120 South Central Ave., Ste. 1800 Saint Louis, MO 63105 Tel: (314) 854-8600 Fax: (314) 854-8660 E-mail: ree@carmodymacdonald.com Tegethoff Development's Total Assets: $51,703,838 Tegethoff Development's Total Liabilities: $539,548,796 The petitions were signed by Jeffrey J Tegethoff as manager. A full-text copy of Tegethoff Development's petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/4KBXESA/Tegethoff_Development_LLC__moebke-26-42401__0001.0.pdf?mcid=tGE4TAMA List of Tegethoff Development's Three Unsecured Creditors: Entity Nature of Claim Claim Amount 1. Solera Pearl, LLC Joint Judgment $13,000,000 12085 Leighton Court Carmel, IN 46032 Email: agrant@mccarter.com 2. Jordan & Lauren Wilson Joint Guaranty $2,000,000 Revocable Trust Email: jordan@timekey.us 3. Groundgame Political Settlement $1,400,000 Solutions, LLC Agreement c/o Edward Greim Graves Garrett Greim 1100 Main Street | Suite 2700 Kansas City, MO 64105 Email: edgreim@gravesgarrett.com TEGETHOFF DEVELOPMENT: Hires Carmody MacDonald as Legal Counsel --------------------------------------------------------------- Tegethoff Development, LLC and its affiliates seek approval from the U.S. Bankruptcy Court for the Eastern District of Missouri to hire Carmody MacDonald P.C. to serve as legal counsel. The firm will provide these services: (a) give the Debtors legal advice with respect to their rights, powers, and duties as Debtors-in-Possession in these proceedings; (b) assist and advise the Debtors in consultations with any appointed committee related to the administration of the Chapter 11 Case; (c) assist the Debtors in analyzing claims of creditors and negotiating with such creditors; (d) assist the Debtors with investigation of assets, liabilities, and financial condition and reorganizing the Debtors' businesses to maximize value of assets for the benefit of creditors; (e) advise the Debtors in connection with the sale of assets or business; (f) assist in analysis and negotiation with any committee or third party regarding plan of reorganization terms; (g) assist with communications to the creditor body regarding significant matters in the Chapter 11 Cases; (h) commence and prosecute necessary and appropriate actions and proceedings on behalf of the Debtors; (i) review, analyze, or prepare necessary applications, motions, answers, orders, reports, schedules, pleadings, and other documents; (j) represent the Debtors at all hearings and other proceedings; (k) confer with other professional advisors retained by the Debtors; (l) perform all other necessary legal services in the Chapter 11 Cases as requested; and (m) assist and advise the Debtors regarding pending arbitration and litigation matters, including prosecution or defense of actions and negotiations. The firm will receive hourly rates of $310 to $650 for partners, $285 to $375 for associates, and $150 to $250 for paralegals/law clerks, plus reimbursement of actual and necessary expenses. The firm is holding a retainer of $54,506 and has received $25,494 for prepetition services. Carmody MacDonald P.C. is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code, according to court filings. The firm can be reached at: Robert E. Eggman, Esq. Samuel S. Brand, Esq. CARMODY MACDONALD P.C. 120 S. Central Avenue, Suite 1800 St. Louis, MO 63105 Telephone: (314) 854-8600 Facsimile: (314) 854-8660 E-mail: ree@carmodymacdonald.com ssb@carmodymacdonald.com About Tegethoff Development LLC Tegethoff Development is a Midwest-based real estate development company specializing in luxury multifamily, mixed-use, hospitality, and destination developments. Founded and led by Jeff Tegethoff, the company focuses on creating large-scale lifestyle communities and long-term investment properties across Missouri and other Midwestern markets. Tegethoff Development LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Miss. Case No. 26-42401) on June 1, 2026. In its petition, the Debtor reports timated assets of between $50 million and $100 million, while liabilities are reported in the range of $500 million to $1 billion. The Debtor is represented by Carmody MacDonald P.C. TEGETHOFF DEVELOPMENT: Seeks to Hire Carmody MacDonald as Counsel ----------------------------------------------------------------- Tegethoff Development, LLC, Tegethoff Development Co, LLC and Pearl Capital Management LLC seek approval from the United States Bankruptcy Court for the Eastern District of Missouri to employ Robert E. Eggman, Esq. and its law firm Carmody MacDonald P.C. to serve as bankruptcy counsel. The firm will provide these services: (a) advise the Debtors with respect to their rights, powers, and duties in these Chapter 11 Cases; (b) assist and advise the Debtors in consultations with any appointed committee and in matters relating to administration of the cases; (c) assist the Debtors in analyzing claims of creditors and negotiating with such creditors; (d) assist the Debtors in investigating assets, liabilities, and financial condition and in reorganizing the Debtors' businesses to maximize value for creditors; (e) advise and represent the Debtors in connection with the sale of assets or business; (f) assist in analysis and negotiation of a plan of reorganization and related matters; (g) assist in communications with creditors and other stakeholders; (h) commence and prosecute necessary proceedings on behalf of the Debtors; (i) prepare and review all motions, applications, pleadings, schedules, and related documents; (j) represent the Debtors in hearings and court proceedings; and (k) perform all other necessary legal services as requested in the Chapter 11 Cases. The Firm will be compensated on an hourly basis, plus reimbursement of actual and necessary expenses. Hourly rates range from $310 to $650 for partners, $285 to $375 for associates, and $150 to $250 for paralegals/law clerks. The Firm has received $25,494 and is holding a retainer of $54,506. Carmody MacDonald P.C. is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code, and according to court filings does not hold or represent any interest adverse to the Debtors' estates. The Firm can be reached at: Robert E. Eggman, ESQ. Samuel S. Brand, ESQ. CARMODY MACDONALD P.C. 120 S. Central Avenue, Suite 1800 St. Louis, MO 63105 Telephone: (314) 854-8600 Facsimile: (314) 854-8660 E-mail: ree@carmodymacdonald.com ssb@carmodymacdonald.com About Tegethoff Development LLC Tegethoff Development is a Midwest-based real estate development company specializing in luxury multifamily, mixed-use, hospitality, and destination developments. Founded and led by Jeff Tegethoff, the company focuses on creating large-scale lifestyle communities and long-term investment properties across Missouri and other Midwestern markets. Tegethoff Development LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Miss. Case No. 26-42402) on June 1, 2026. In its petition, the Debtor reports timated assets of between $50 million and $100 million, while liabilities are reported in the range of $500 million to $1 billion. The Debtor is represented by Carmody MacDonald P.C. TENNECO INC: S&P Downgrades ICR to 'B-', Alters Outlook to Stable ----------------------------------------------------------------- S&P Global Ratings lowered its rating to 'B-' from 'B' on Tenneco Inc. and revised its outlook to stable from negative. S&P said, "Simultaneously, we lowered our issue-level rating on its senior secured debt to 'B-' from 'B'. The recovery rating remains '3', indicating our expectation for meaningful (50%-70%; rounded estimate: 50%) recovery in the event of a payment default. "The stable outlook reflects our expectation that Tenneco will maintain adequate liquidity despite negative free operating cash flow (FOCF) this year, with a path to positive FOCF in 2027." Tenneco Inc.'s profits remain lower than anticipated, and S&P Global Ratings now expects a cash flow deficit this year following an outsized cashflow deficit in 2025. S&P said, "We expect Tenneco's profitability to remain below our previous expectations. We now expect the company to generate relatively flat EBITDA margins in the mid-8% area this year, with limited improvement thereafter. High commodity costs and the negative impact of tariffs on the aftermarket DRiV business weakened earnings in the first quarter of 2026 compared to the second half of 2025. Tenneco can pass through higher raw material costs with automaker customers, but we assume a modest lag in index pricing resets may prevent cost recovery and compress margins within the same quarter. "We are now more cautious on Tenneco's ability to deliver cost savings and synergies even as we expect restructuring costs to decrease meaningfully this year. Since being acquired by Apollo, the company has incurred over $1.8 billion in restructuring charges. In our view, there is limited visibility on its ability to improve margins from past restructuring initiatives, which we view as necessary to generate positive FOCF. "We expect revenues and earnings to remain subdued through at least 2026 and result in another year of FOCF deficits. In 2025, Tenneco incurred a deficit of over $400 million compared with our expectation for slightly positive FOCF. While leverage remained relatively stable (albeit at high levels at just above 5x), the cash outflow reduced Tenneco's financial flexibility. We estimate fixed costs will total about $1.4 billion, comprising debt service costs of more than $600 million (including interest on factoring), cash taxes of $400 million, and projected capital expenditure (capex) of more than $400 million. "Given projected S&P Global Ratings-adjusted EBITDA of $1.3 billion (8.4% margin), we forecast a cash flow deficit of more than $100 million this year. We estimate the company will return to positive FOCF generation in 2027, but believe this will require higher industry volumes and margin improvement (due in part to the accrual of benefits from prior restructuring initiatives) to underpin earnings growth and limited working capital outflows." "Margins in its DRiV business remain well below industry peers. Tenneco's aftermarket DRiV segment had EBITDA margins of about 6% in 2025, which is burdened for restructuring related to footprint optimization and separation costs that are considered to be largely complete. This EBITDA margin profile is significantly below aftermarket supplier peers that typically generate margins in the mid-teens percent area. Volume- and mix-driven growth have been low over the past several quarters, and restructuring costs persist. Despite reduced DRiV-specific restructuring costs, margins were 7% during the first quarter of 2026 as costs likely included very highly tariffed inventory. S&P does expect margins for DRiV to improve throughout the balance of 2026 as lower tariff inventories flow through costs and restructuring actions taken the prior year begin to deliver some savings, albeit at levels still trailing aftermarket parts peers such as Dorman, Standard Motor Products, and Burgess Point Purchaser (dba BBB Industries). S&P said, "We expect Tenneco has sufficient liquidity for the next 12 months. Liquidity fell considerably in the first quarter of 2026 to $870 million from $1.85 billion as of year-end 2025. This is driven by a cash flow deficit exceeding $800 million in the first quarter of 2026, above the prior-year outflow of over $500 million. Borrowings on the asset-based-lending (ABL) revolver were also seasonally elevated to fund working capital. However, we expect working capital investment to recover over the course of this year, similar to previous periods. We therefore expect liquidity to improve by year-end from recent levels despite forecasted negative FOCF in 2026. "Our rating action also incorporates Tenneco's significant concentration of debt maturities. The company's $1.3 billion ABL revolver matures in April 2028, followed by its $2.5 billion in term loans and $1.9 billion in secured notes, both due in November 2028, which will need to be refinanced (its existing liquidity was $870 million as of the end of the first quarter of 2026). "We currently assess Tenneco as a single corporate entity. Tenneco indicated it is considering options for its operating segments following the equity investment of Apollo's Fund X into Clean Air and Powertrain. The timing or structure of a spinoff or sale of different segments remains uncertain. For now, we continue to view Tenneco as a single company supporting its debt and capital obligations. We expect it is still evaluating options for small acquisitions, but the time and size remain uncertain. "The stable outlook reflects our expectation that Tenneco will maintain adequate liquidity despite negative free operating cash flow (FOCF) this year, with a path to positive FOCF in 2027. "We could downgrade our ratings on the company if cash flow deficits persist and we view its capital structure as unsustainable. This could happen if EBITDA declines due to significant operational, macroeconomic, or competitive challenges, leading to weaker liquidity. We could also lower our ratings if we consider there to be elevated risk that Tenneco will not address its significant upcoming debt maturities in a timely manner. "We could raise our ratings on the company if it sustains leverage below 6.5x, FOCF to debt approaches 5%, and maintains adequate liquidity. In this scenario, we would expect Tenneco to exceed our expectation for earnings and cash flow growth over the next two years, with a corresponding improvement in liquidity. We would also expect the company to address its future debt maturities." THERAPEUTIC EXERCISE: Gets OK to Use Cash Collateral Until July 31 ------------------------------------------------------------------ Nikki Farris, the Chapter 11 trustee for Therapeutic Exercise Design and Development Inc., received interim approval from the U.S. Bankruptcy Court for the Eastern District of California, Sacramento Division, to use cash collateral. The court entered an order authorizing interim use of cash collateral through July 31 and scheduling a further hearing for July 29. The trustee intends to use cash collateral to continue operating the Debtor's gym and training facility, which depends on leased space and membership revenue. Without funding for rent and payroll, employees -- who are also principals -- have indicated they would stop working, effectively forcing the Debtor's business to shut down. The Debtor generates between $15,000 and $20,000 in monthly revenue and holds approximately $33,371 in cash on hand, along with gym equipment valued at about $26,000. Its proposed budget shows $17,307 in monthly expenses. The U.S. Small Business Administration, the Debtor's sole secured creditor, holds a blanket lien on the Debtor's assets under a UCC-1 filing, with an outstanding loan balance of approximately $46,305 and monthly payments of $226 at 3.75% interest. Although no secured claims were initially scheduled, the SBA's lien is acknowledged as the relevant security interest in cash collateral. As adequate protection, the trustee offers the SBA continuing monthly loan payments and granting replacement liens on post-petition assets. The trustee said that the SBA's position is improving because cash reserves have increased since the petition date. About Therapeutic Exercise Design & Development Therapeutic Exercise Design & Development, Inc. is a specialized healthcare company dedicated to developing therapeutic exercise systems that assist in rehabilitation, physical therapy, and wellness initiatives. The company focuses on delivering structured, research-informed exercise designs that support recovery and functional improvement. Therapeutic Exercise Design & Development sought relief under Chapter 7 of the U.S. Bankruptcy Code (Bankr. E.D. Calif. Case No. 25-26936) on December 9, 2025. On February 27, 2026, the case was converted to one under Chapter 11. In its petition, the Debtor reported assets of between $100,001 and $1 million and liabilities in the same range. Honorable Bankruptcy Judge Fredrick E. Clement oversees the case. Nikki Farris, the Chapter 11 trustee appointed in the case, is represented by Gabriel P. Herrera, Esq., at Kronick, Moskovitz, Tiedemann & Girard, A Professional Corporation. TIMIOS ENTERPRISES: Hires Gregory K. Stern P.C. as Legal Counsel ---------------------------------------------------------------- Timios Enterprises Corp. d/b/a Palm Court Restaurant seeks approval from the U.S. Bankruptcy Court for the Northern District of Illinois to employ Gregory K. Stern, Esq., Dennis E. Quaid, Esq., and Monica C. O'Brien, Esq. of law firm Gregory K. Stern, P.C. to serve as its legal counsel. The attorneys will provide these services: (a) reviewing assets, liabilities, loan documentation, account statements, executory contracts and other relevant documentation; (b) preparing list of creditors, list of twenty largest unsecured creditors, schedules and statement of financial affairs; (c) giving legal advice with respect to the Debtor's powers and duties as Debtor in Possession in the operation and management of its financial affairs; (d) assisting in the preparation of schedules, statement of affairs and other necessary documents; (e) preparing applications to employ professionals, motions for use of cash collateral, motions for use, sale or lease of property, motions to assume or reject executory contracts, and other pleadings in furtherance of reorganization; (f) negotiating with creditors and other parties in interest, attending court hearings, and meetings of creditors; (g) reviewing proofs of claim and solicitation of creditors' acceptances of plan; and (h) performing all other legal services necessary in furtherance of the Debtor's reorganizational goals. The professionals received a special purpose retainer of $20,000 prior to filing and will be compensated at hourly rates of $650 for Gregory K. Stern and $550 for Dennis E. Quaid and Monica C. O'Brien, subject to Court approval of compensation and expenses. The professionals are stated to have no connections with the Debtor, its creditors, or other parties in interest and represent no interests adverse to the estate, and are therefore "disinterested persons" within the meaning of the Bankruptcy Code, according to court filings. The firm can be reached at: Gregory K. Stern, Esq. Dennis E. Quaid, Esq. Monica C. O'Brien, Esq. Gregory K. Stern, P.C. 53 West Jackson Boulevard, Suite 1442 Chicago, IL 60604 Telephone: (312) 427-1558 E-mail: emonzo@morrisjames.com jlevin@morrisjames.com scerra@morrisjames.com krishansen@paulhastings.com About Timios Enterprises Corp. Timios Enterprises Corp., doing business as Palm Court Restaurant and Banquets, operates a full-service restaurant and private-events venue in Arlington Heights, Illinois. The company, which serves dining guests and event customers, offers restaurant service, live entertainment, catering and banquet space. Timios Enterprises Corp. d/b/a Palm Court Restaurant sought protection under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Illinois Eastern Division Case No. 26-08984) on May 27, 2026. At the time of the filing, the Debtor had estimated assets of between $0 to $50,000 and liabilities of between $1,000,001 to $10 million. Gregory K. Stern, Dennis E. Quaid and Monica C. O'Brien of Gregory K. Stern, P.C. are the Debtor's legal counsel. TOYIN STREET: Hires Coldwell Banker as Real Estate Broker --------------------------------------------------------- Toyin Street Properties, LLC seeks approval from the U.S. Bankruptcy Court for the Southern District of Texas to employ Coldwell Banker Commercial Realty d/b/a Rockwell Commercial Group as real estate broker. The firm will list and market the real property of the Debtor located at Houston, Texas. The firm will be paid a commission of 6 percent of the selling price. As disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Aaron W. McCardell Sr., Esq. Lyric Centre 440 Louisiana Street, Ste. 1575 Houston, TX 77002 Tel: (713) 236-8736 Fax: (713) 236-8990 Email: amccardell@mccardelllaw.com About Toyin Street Properties LLC Toyin Street Properties, LLC holds full ownership of a commercial asset located at 11066 Highway 242 in Conroe, Texas 77385, which carries an appraised valuation of approximately $3.05 million. The company sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 26-32419) on April 7, 2026. In its petition, the Debtor reports estimated assets of $3,050,000 and estimated liabilities of $2,430,900. Honorable Bankruptcy Judge Eduardo V. Rodriguez handles the case. Aaron W. McCardell, Sr., Esq. at The Mccardell Law Firm, PLLC, represents the Debtor as legal counsel. TOYIN STREET: Hires Mccardell Law Firm PLLC as Counsel ------------------------------------------------------ Toyin Street Properties, LLC seeks approval from the U.S. Bankruptcy Court for the Southern District of Texas to employ Mccardell Law Firm, PLLC as counsel. The firm's services include: a. assisting the Debtor with the resolution of all contested claims; b. assisting the Debtor with the proposing, prosecuting and consummating the plan of reorganization; c. advising the Debtor with regard to any litigation matters that exist or might arise prior to confirmation of the plan of reorganization; d. preparing all appropriate pleadings to be filed in this case; e. performing any other legal services that may be appropriate in connection with this reorganization case. The firm will be paid at these rates: Aaron W. McCardell, Sr. $350 per hour Associate $250 to $300 per hour Paralegal $75 to $105 per hour The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Mr. McCardell Sr. disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Aaron W. McCardell Sr. The McCardell Law Firm, PLLC 440 Louisiana Street, Suite 1575 Houston, TX 77002 Tel: (713) 236-8736 Fax: (713) 236-8990 Email: amccardell@mccardelllaw.com About Toyin Street Properties LLC Toyin Street Properties, LLC holds full ownership of a commercial asset located at 11066 Highway 242 in Conroe, Texas 77385, which carries an appraised valuation of approximately $3.05 million. The company sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 26-32419) on April 7, 2026. In its petition, the Debtor reports estimated assets of $3,050,000 and estimated liabilities of $2,430,900. Honorable Bankruptcy Judge Eduardo V. Rodriguez handles the case. Aaron W. McCardell, Sr., Esq. at The Mccardell Law Firm, PLLC, represents the Debtor as legal counsel. TRANSOCEAN LTD: S&P Upgrades ICR to 'B-' on Improved Leverage ------------------------------------------------------------- S&P Global Ratings raised its issuer credit rating on Offshore drilling contractor Transocean Ltd. to 'B-' from 'CCC+' and removed the rating from CreditWatch, where S&P placed it with positive implications on Feb. 9, 2026. S&P said, "We also raised our issue-level ratings on Transocean's secured debt to 'B+' from 'B', with a '1' recovery rating; its super priority and priority guaranteed notes to 'B' from 'B-', with a '2' recovery rating; and unsecured notes (without subsidiary guarantees) to 'B' from 'CCC+', revising the recovery rating to '2' from '3'. "The positive outlook reflects our view that Transocean's credit measures will further improve following the closing of the Valaris Ltd. acquisition, which we expect in the fourth quarter of 2026, with the level of improvement depending on Transocean's pro forma fleet configuration and final capital structure." Transocean Ltd. has added over $1.6 billion to its backlog and repaid nearly $520 million of secured debt since February 2026, while the market for offshore drilling rigs has tightened. S&P Global Ratings expects increased floater utilization and potentially higher dayrates in 2027. As a result, Transocean's liquidity has strengthened. S&P now expects leverage to be sustainable, with funds from operations (FFO) to debt of 15%-18% and meaningfully positive free operating cash flow over the next two years, on a stand-alone basis. The upgrade reflects improved credit measures and liquidity, as well as strengthening industry fundamentals. Transocean has reduced gross debt by $1.8 billion since the beginning of 2025, including paying down in full $358 million of its 8.375% notes due 2028 secured by the Deepwater Titan rig in first-quarter 2026. It intends to pay down at least another $390 million this year, which will bring gross debt to $4.9 billion by year-end. Transocean's average rig utilization averaged 87% in first-quarter 2026, up from 72% in 2025 and 60% in 2024, with average dayrates of $475,000 (versus $457,000 in 2025 and $430,000 in 2024), thereby improving cash flows. S&P now expects FFO to debt to average 15%-18% over the next two years, with increased free operating cash flow and improved liquidity. The company has added $1.8 billion of backlog year to date, including more than $1.6 billion since February, underscoring our view that the deepwater rig market is tightening as demand increases and supply remains flat. S&P expects demand growth to accelerate as countries look to diversify oil supply away from the volatile Middle East. Transocean's liquidity has improved. As of March 31, 2026, Transocean had $792 million of liquidity, consisting of $330 million of unrestricted cash and $462 million available on its undrawn $510 million revolving credit facility maturing in 2028 (net of letters of credit). Repayment of the Deepwater Titan notes not only released about $90 million of restricted cash, but it also reduced near-term amortization obligations. S&P said, "As a result, we estimate Transocean has $225 million-$250 million in debt service payments for the remainder of the year and $360 million in 2027. We revised our cash flow estimates upward based on strong first-quarter results and the increased backlog, and we now estimate Transocean will generate $700 million-$800 million in cash FFO per year." The acquisition of Valaris will bolster scale and diversification and improve leverage. In early February 2026, Transocean agreed to acquire offshore drilling company Valaris for $5.8 billion of stock and the assumption of $1.1 billion of Valaris' debt. The acquisition will enhance Transocean's deepwater fleet and provide diversification into the jack-up market, including entry to the Middle East through Valaris' joint venture with Saudi Aramco. S&P also expects the acquisition to improve Transocean's leverage and cash flow metrics, while adding $4.9 billion of contracted backlog. Transocean has received a second request from the U.S. Department of Justice as part of the agency's review of the proposed transaction, and it is working through regulatory processes in other jurisdictions, but it expects the deal to close in fourth-quarter 2026. The offshore drilling sector remains volatile. Offshore oil and gas drilling is a highly capital-intensive and volatile business, with demand driven largely by long-term oil prices and exploration and production (E&P) companies' capital budgets. Oil and gas producers must be willing to commit significant upfront capital to drill exploration prospects, which can take multiple years to bring to production. For E&P companies committed to living within cash flows, the lag between capital expenditure and cash flow generation from offshore projects is too long relative to shorter-cycle, onshore shale, for which payback periods can be less than a year and production responses can be within months. Deepwater operations are also inherently more operationally complex, require much longer lead times, and are potentially more exposed to cost overruns than onshore unconventional plays. S&P said, "Three of the four offshore drilling contractors (or their predecessors) that we currently rate in North America have either filed for bankruptcy or executed selective defaults since 2020. Nevertheless, we believe the sector will continue to recover, and consolidation among the larger players, such as Transocean's acquisition of Valaris and Noble Corp.'s acquisition of Diamond Offshore, should support greater capital discipline and more rational contracting behavior than was seen in prior upcycles. "The positive outlook reflects our expectation that Transocean's credit measures will improve following the closing of the Valaris acquisition, which we expect in fourth-quarter 2026. Based on the assumption that Transocean retains all of Valaris' rigs and assumes or refinances its debt, we expect FFO to debt to be in in the mid-20% area in 2027 and 2028, up from around 15%-18%, on a stand-alone basis. We expect Transocean to continue to reduce gross debt and simplify its capital structure following the acquisition, lowering leverage toward management's long-term target of 1.5x. "We could revise our outlook to stable if we no longer expect Transocean's FFO to debt will exceed 20% for a sustained period or if liquidity deteriorates. This would most likely occur if the acquisition does not close or if Transocean does not continue to pay down gross debt following the combination. This could also occur if, contrary to our expectations, the market for offshore rigs does not tighten further and the company is unable to recontract rigs at favorable dayrates. "We could raise our rating on Transocean if we expect it to sustain FFO to debt above 20% while maintaining adequate liquidity. This would most likely occur if the Valaris acquisition closes as we expect and Transocean successfully integrates the combined fleet, while continuing to pay down gross debt. We would also expect it to recontract rigs at favorable dayrates." TRAYJOCKEY ENTERPRISES: Seeks to Hire Molleur as Attorney --------------------------------------------------------- Trayjockey Enterprises Inc. seeks approval from the U.S. Bankruptcy Court for the District of Maine to employ Molleur Law Office as attorney. The firm will provide these services: a. consultations regarding bankruptcy; b. preparation of the Petition and Schedules necessary to commence the case; c. preparation of the Chapter 11 Plan; d. attendance at the status conference, § 341 meetings and Rule 2004 examinations; e. negotiations with creditors regarding the Plan; f. attendance at Court hearings for confirmation of the Debtor's Plan; and g. prosecution and defense of any contested matters, motions or adversary proceedings in the Bankruptcy Court necessary for the successful conclusion of the Debtor's Chapter 11 case. The firm will be paid at these rates: Tanya Sambatakos $400 per hour Melissa Bourque $140 per hour Deana Kariotis $140 per hour The firm will be paid a retainer in the amount of $17,130.50, which included the $1,738 Chapter 11 filing fee, to which $16,783.00 of the retainer was applied. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Ms. Sambatakos disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Tanya Sambatakos, Esq. Molleur Law Office 190 Main Street, 3rd fl. Saco, ME 04072 Tel: (207) 283-3777 Email: tanya@molleurlaw.com About Trayjockey Enterprises Inc. Trayjockey Enterprises Inc. is a Maine-based business corporation. While the bankruptcy filing does not detail its operations, the company appears to be a mid-sized commercial enterprise operating with multiple creditor relationships. Trayjockey Enterprises Inc. sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-20150) on June 3, 2026. In its petition, the Debtor reported estimated assets of $100,001-$1 million and estimated liabilities of $1 million-$10 million. Honorable Bankruptcy Judge Michael A. Fagone handles the case. The Debtor is represented by Tanya Sambatakos, Esq. of Molleur Law Office. TRI POINTE: Moody's Affirms 'Ba2' CFR, Outlook Remains Stable ------------------------------------------------------------- Moody's Ratings affirmed Tri Pointe Homes, Inc.'s (Tri Pointe) Ba2 Corporate Family Rating, Ba2-PD Probability of Default Rating, and Ba2 ratings on the company's senior unsecured notes. The SGL-1 Speculative Grade Liquidity rating is unchanged. The outlook is maintained at stable. On May 14, 2026, the $4.5 billion acquisition of Tri Pointe by Sumitomo Forestry Co., Ltd. (Sumitomo Forestry, unrated) closed. As a result, Tri Pointe became an indirect wholly owned subsidiary of Sumitomo, and its stock was delisted from the NYSE. "The affirmation of Tri Pointe's Ba2 CFR reflects Moody's expectations of no immediate, material changes to its operating and financial strategy, including its leverage profile and liquidity, under the new ownership," says Moody's Ratings' Vice President and Senior Credit Officer Natalia Gluschuk. Tri Pointe's senior unsecured notes, which total about $650 million, have a change of control provision that is triggered by both a change of control event and a downgrade of its rating by any rating agency. Tri Pointe's debt currently remains outstanding and the company continues to operate in accordance with its financial policy, with a leverage ceiling of 35% total debt to book capitalization and a minimum cash balance of $200 million. However, Sumitomo will institute a quarterly dividend from Tri Pointe equivalent to 30% of net income. Moody's views this as a manageable burden given Tri Pointe's solid financial capacity. Moody's expects that standalone financial statements will be available going forward. Tri Pointe will initially operate retaining its brand and is likely to focus on growth of the business over time in line with Sumitomo's growth aspirations for its homebuilding operations. RATINGS RATIONALE Tri Pointe's Ba2 CFR is supported by: 1) the company's diverse product platform in high growth markets and the strides it made to reduce its concentration in California through targeted expansion in new and existing markets; 2) the company's conservative financial policy and Moody's expectations that it will be maintained; 3) strong liquidity supported by a meaningful cash balance and robust revolver availability; and 4) solid credit metrics, including a modest debt leverage of 27.4% debt to book capitalization at March 31, 2026, with EBIT margin at 10.7% and EBIT to interest coverage at 4.1x for the same period. The rating is constrained by: 1) reduced pricing power of homebuilding operations due to low affordability and the need to provide incentives, which negatively impact gross margins; 2) the company's modest scale relative to larger national home builders; 3) lack of track record under the new ownership and uncertainty that remains regarding future financial policy, including capital allocation goals, and governance structure, as well as a lack of an independent board of directors; and 4) the cyclical nature of the homebuilding industry. Tri Pointe's SGL-1 reflects its strong liquidity, with a $850 million revolving credit facility due 2030 that is expected to be largely undrawn over the next 18 months and a cash balance that Moody's projects to be maintained between $500-700 million over the next 18 months. Going forward, Moody's will monitor any changes to Tri Pointe's operating and financial strategy, capital structure, and governance considerations. The ratings will also monitor and assess the impact of any guarantees that Sumitomo Forestry or its subsidiaries would provide to Tri Pointe's debt; any guarantee Tri Pointe would provide to any of Sumitomo Forestry's debt; and the consistent availability of financial and operational disclosures with respect to Tri Pointe. The stable outlook reflects Moody's expectations that Tri Pointe will sustain its solid credit metrics amid weak homebuilding sector trends, as it maintains its operating and financial strategies despite a change in ownership. ENVIRONMENTAL, SOCIAL, GOVERNANCE CONSIDERATIONS Governance consideration was a key driver of the rating action, reflecting the new ownership of the company by Sumitomo Forestry, the delisting of Tri Pointe's stock from NYSE as well as the dissolution of the mostly independent board of directors. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS A ratings upgrade would be considered if Tri Pointe maintains debt to book capitalization below 35% and interest coverage above 6.0x on a sustained basis, if financial policies under new ownership demonstrate commitment to conservative characteristics, if scale within existing markets and geographic diversification increases, while a very good liquidity profile, including strong free cash flow, is maintained. Tri Pointe's ratings could be downgraded if the company shifts to a more aggressive financial policy, if there is a continuous erosion in profitability, if its debt to book capitalization approaches 45%, if EBIT interest coverage declines below 5.0x, or if liquidity profile deteriorates. The principal methodology used in these ratings was Homebuilding and Property Development 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. Tri Pointe Homes, Inc. was founded in 2009 and is headquartered in Incline Village, Nevada. The company designs, builds and sells single-family homes and operates in 12 states and Washington DC area. The company was taken private in May 2026 and is owned by Sumitomo Forestry Group, which engages in forestry management, manufacturing and distribution of wood building materials, real estate development. In the 12 months ended March 31, 2026, Tri Pointe generated $3.3 billion in revenue. TROVE BREWING: Hires Sieling Law PLLC as Attorney ------------------------------------------------- Trove Brewing, LLC seeks approval from the U.S. Bankruptcy Court for the District of Minnesota to employ Sieling Law, PLLC as attorney. The firm will perform legal services according to reasonable skill and ability and agrees to act in the capacity of legal counsel to said Debtor in this case. The firm will be paid at these rates: Mary Sieling $250 per hour Paralegals $130 per hour The firm was provided a retainer in the amount of $12,000 in May 2026, of which $3,258.00 went to prepetition fees and costs. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Ms. Sieling disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Mary Sieling, Esq. Sieling Law PLLC 12800 Whitewater Drive Suite 100, No 3201 Minnetonka, MN 55343 Tel: (612) 325-1191 Email: mary@sielinglaw.com About Trove Brewing, LLC Trove Brewing, LLC, filed a Chapter 11 bankruptcy petition (Bankr. D. Minn. Case No. 26-31864) on June 3, 2026. The Debtor hires Sieling Law, PLLC as attorney. UGA STREET: To Sell Tampa Property to Astacia Senate for $475K -------------------------------------------------------------- UGA Street Properties 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's Property is located at 3607 N 52nd Street, Tampa, FL 33619. The Debtor wishes to sell the Property to Astacia Senate pursuant to the Residential Contract For Sale And Purchase, with the purchase price of $475,000.00. The Buyer is not an insider of the Debtor. There is no business, personal, or familial relationship between the Buyer and the Debtor. The Property is encumbered by a state tax lien filed by the Florida Department of Revenue on May 22, 2026, The Buyer has delivered an initial earnest money deposit of $5,000.00, which is held in escrow at 504 N Armenia Ave, Tampa, FL 33609. The remaining balance of $470,000.00 is to be funded by a loan obtained by the Buyer and paid at closing. The proposed purchase price of $475,000.00 is supported by the Property's marketing and litigation history. The Property consists of a 3,484-square-foot residential duplex constructed in 2007. Because the combined total of the six mortgages and the Florida Department of Revenue tax lien exceeds the $475,000.00 purchase price, the transaction constitutes a short sale. To deliver marketable title to the successful purchaser and satisfy title insurance requirements, the Debtor requests that the Property be sold free and clear of all liens, claims, encumbrances, and interests. To fulfill its fiduciary obligations and ensure maximum value is achieved for the estate, the Debtor will consider any higher and better offers received prior to or at the hearing on the Motion. The Debtor submits that the Sale satisfies the statutory requirements. The Sale is being made in good faith. About UGA Street Properties UGA Street Properties sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D.Fla. Case No.: 26-04111) on May 14, 2026. IN the petition signed by Christian Nwoye as managing member, the Debtor disclosed an estimated assets of $0 to $50,000 and estimated liabilities of $1 million to $10 million. Judge Roberta A. Colton presides over the case. Chad Van Horn, Esq., at VAN HORN LAW GROUP, P.A., represents the Debtor as legal counsel. UNITY FABRICATION: Gets Final OK to Use Cash Collateral ------------------------------------------------------- The U.S. Bankruptcy Court for the Southern District of Texas entered a final order authorizing Unity Fabrication, LLC to use cash collateral. Under the court order, the Debtor is authorized to use cash collateral based on an approved final budget. The Debtor may exceed individual budget line items by up to 10%, provided total expenditures do not exceed the budget by more than 10%. The Debtor's 30-day budget projects total operational expenses of $135,512.16. The Debtor's primary source of operating cash -- accounts receivable and their proceeds -- is subject to pre-petition liens held by multiple secured creditors. As adequate protections, secured creditors will receive replacement liens on post-petition accounts receivable, contract rights, deposit accounts, and other post-petition cash collateral, with the same validity, priority and extent as their pre-petition liens. The protections granted to secured creditors are subject to a carveout for court fees, U.S. Trustee fees, approved Subchapter V trustee fees, and certain trustee expenses. The order preserves all creditor rights, including the ability to seek additional adequate protection, challenge improper use of cash collateral, or assert claims regarding the validity, priority, extent, or enforceability of liens. The authority to use cash collateral will terminate upon dismissal or conversion of the Debtor's Chapter 11 case, appointment of a bankruptcy trustee, confirmation of a Chapter 11 plan, expiration of the final order, or a material breach of its terms. The order is available at https://tinyurl.com/y78xnce5 from PacerMonitor.com. About Unity Fabrication LLC Unity Fabrication, LLC a Texas-based CNC machine shop. Unity Fabrication filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. S.D. Tex. Case No. 26-33074) on April 30, 2026. In the petition signed by Thach Nguyen, chief executive officer, the Debtor disclosed up to $10 million in both assets and liabilities. Judge Jeffrey P. Norman oversees the case. Robert C. Lane, Esq., at The Lane Law Firm, represents the Debtor as bankruptcy counsel. Melissa Haselden, Esq., at Haselden Farrow, PLLC serves as Subchapter V trustee for the Debtor. UPBOUND GROUP: Moody's Alters Outlook on 'Ba2' CFR to Stable ------------------------------------------------------------ Moody's Ratings changed the outlook for Upbound Group, Inc. ("Upbound") to stable from negative. At the same time, Moody's affirmed Upbound's ratings including its Ba2 corporate family rating, Ba2-PD probability of default rating, Ba2 senior secured first lien term loan rating and B1 senior unsecured notes rating. Moody's also changed the company's speculative grade liquidity rating (SGL) to SGL-2 from SGL-3. The outlook change to stable reflects Moody's views that Upbound will see continued strength in revenue trends and margins which will bolster credit metrics and free cash flow. The company has benefited from strong topline growth at both ACIMA and Brigit coupled with stabilization in the Rent-A-Center business. Following tightened underwriting standards, lease charge-off rates at ACIMA and Rent-A-Center have begun to improve. The improved profitability has boosted free cash flow and is anticipated to offset one-time cash outflows associated with accrued legal expenses and deferred acquisition costs from the 2025 Brigit purchase. Moody's anticipates Moody's-adjusted debt/EBITDA and EBITA/interest coverage to improve to 2.9x and 3.6x, respectively by fiscal year-end 2026 from 3.6x and 2.5x at fiscal year-end 2025. RATINGS RATIONALE Upbound's Ba2 CFR is supported by the company's solid position in the consumer rent-to-own industry, conservative 2.0x net leverage target, good liquidity and Moody's expectations for customer non-performance metrics to remain relatively stable over the next 12-18 months. Moody's anticipates Rent-A-Center's topline to stabilize and for the company to continue focusing on growing its lease portfolio, primarily on the ACIMA side. Moody's anticipates improvement in ACIMA charge-off rates from the recently elevated levels. Moody's also anticipates continued momentum on the Brigit business which was acquired in 2025. The ratings are also supported by the lack of near-term maturities. The ratings are constrained by risks associated with virtual lease-to-own, including the volatile customer non-performance risk inherent in the model and its current weak EBITA/interest and free cash flow metrics. More generally, ratings are constrained by business risks associated with the rent-to-own industry because of its focus on cash and credit constrained consumers (who are particularly economic sensitive), and which could give rise to increased consumer activism and societal or governmental pressure that leads to legislative changes or litigation. While Brigit's consumer earned wage access (EWA) product is short-term and subscription-based, Moody's believes the addition of EWA capabilities could open the door to heightened consumer regulatory risk and related litigation. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS Ratings could be upgraded if Upbound demonstrates sustainable revenue and profitability growth while effectively managing higher default risk associated with the virtual lease-to-own portfolio and the potential for heightened regulatory risks related to Brigit's earned wage access business. An upgrade would also require consistent strong free cash flow generation beyond historical levels, a sustained reduction of debt and leverage levels and stability in its core operating performance including low variability in customer non-performance metrics. Quantitatively ratings could be upgraded if debt/EBITDA is sustained below 2.25x and EBITA/interest sustained above 5x through an industry cycle. Ratings could be downgraded if Upbound experiences any material unexpected issues, particularly in the ACIMA or Brigit segments or declines in its Rent-A-Center business or if liquidity weakens. Quantitatively, ratings could be downgraded if debt/EBITDA is sustained above 3.75x or EBITA/interest is sustained below 3.25x or annual free cash flow is sustained below the $150-$200 million range. Headquartered in Plano, Texas, Upbound Group, Inc. is a leading provider of technology driven, flexible, no debt obligation leasing and financial health improvement solutions. Its omni-channel model uses proprietary data and technology to facilitate transactions across a wide range of retail channels including its ACIMA virtual lease-to-own platform, Rentacenter.com, e-commerce partner platforms, partner retail stores, Brigit, and about 2,188 Rent-A-Center stores. Revenue was approximately $4.73 billion for the LTM period ending March 31, 2026. The principal methodology used in these ratings was Retail and Apparel 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. VERACRUZ INVESTMENT: Hires Schreeder Wheeler & Flint as Counsel --------------------------------------------------------------- Veracruz Investment Group, LLC seeks approval from the U.S. Bankruptcy Court for the Northern District of Georgia to employ Schreeder, Wheeler & Flint, LLP as counsel. The firm will provide these services: a. preparation of pleadings, schedules and statements of financial affairs, adversary proceedings and applications incidental to administering the Estate; b. development of the relationship and status of debtor-in-possession and handling of claims of creditors in these proceedings, all in the best interests of the Debtor, creditors and other interested parties; c. advising the debtor-in-possession of its rights, duties and obligations as a debtor-in-possession; d. performing legal services incidental and necessary to the day-to-day operation of the Debtor including, but not limited to, institution and prosecution of necessary legal proceedings, debt restructuring, general business, corporate and legal advice and assistance necessary to the proper preservation and administration of this Estate; e. taking any and all necessary actions incident to the proper preservation and administration of the Debtor and to the conduct of its business; f. preparing a plan of reorganization and disclosure statement; and g. providing post-confirmation legal services in connection with implementation of the plan. The firm will be paid at these rates: John A. Christy $ 595 per hour Jonathan A. Akins $ 485 per hour Jamie A. Christy $365 per hour In addition, the firm will seek reimbursement for its out-of-pocket expenses. Mr. Christy disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: John A. Christy, Esq. Schreeder, Wheeler & Flint, LLP 1100 Peachtree Street, N.E., Suite 800 Atlanta, GA 30309-4516 Tel: (404) 681-3450 Fax: (404) 681-1046 About Veracruz Investments Located at 1625 Oakbrook Drive Norcross, Georgia, Veracruz Investments, LLC, is a limited liability company that provides investment services. Veracruz Investments sought Chapter 11 protection (Bankr. N.D. Ga. Case No. 17-65621) on Sept. 5, 2017. Helio E. Bernal, operating manager, signed the petition. The Debtor estimated assets and liabilities in the range of $1 million to $10 million. The Debtor tapped David L. Bury, Jr., Esq., at Stone & Baxter, LLP, as its counsel. VERATICS INC: Court Extends Cash Collateral Access to July 15 ------------------------------------------------------------- Veratics, Inc. received third interim approval from the U.S. Bankruptcy Court for the Middle District of Florida to use cash collateral to fund operations. At the recently held hearing, the court extended the Debtor's authority to use cash collateral through July 15. The Debtor previously operated under two interim cash collateral orders since filing for Chapter 11 relief on April 10. The prior orders entered on April 21 and May 28 granted the U.S. Small Business Administration adequate protection through a valid and perfected lien on and security interest in all post-petition cash. Based on the Debtor's books and records, the SBA holds a blanket lien on all of the Debtor's assets, including cash pursuant to a UCC-1 financing statement. The Debtor believes the SBA's lien covers the full value of its assets. As of the petition date, the outstanding balance was approximately $1,168,857.95. The Debtor's cash consisted of bank accounts and accounts receivable totaling $725,802.75 as of the petition date. About Veratics Inc. Veratics, Inc. is an ecommerce company engaged in the sale and distribution of office and industrial supplies. Veratics filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. M.D. Fla. Case No. 26-02546) on April 10, 2026, with $500,001 to $1 million in assets and $1 million to $10 million in liabilities. Aaron Cohen, Esq., a practicing attorney in Jacksonville, Fla., serves as Subchapter V trustee for the Debtor. Judge Grace E. Robson oversees the case. Aaron A. Wernick, Esq., at Wernick Law, PLLC represents the Debtor as bankruptcy counsel. VILLAGE HOMES: 6713 Lake Property Sale to Sherea Calderon OK'd -------------------------------------------------------------- The U.S. Bankruptcy Court for the Northern District of Texas, Fort Worth Division, has granted Village Homes LP, to sell Property, free and clear of liens, claims, interests, and encumbrances. The Debtor is a Texas limited partnership formed in 1996. The Debtor's general partner is DH Management, Inc., a Texas corporation, which holds a 1% general partner interest. The Debtor has two limited partners: Michael Dike and James R. Harris. The Debtor is engaged in the construction of single-family homes, acquisition of single-family residential lots and options to acquire lots, and in the marketing and sale of the completed homes. The Debtor’s real properties are located in various subdivisions in Tarrant and Parker Counties, Texas. To finance its homebuilding operations, the Debtor maintains various credit and borrowing facilities with several financial institutions including Worthington Bank. The Debtor is the owner of the real property and the completed single-family house constructed thereon with an address of 6713 Lake Overlook Dr., Fort Worth, Texas 76135. The Court has authorized the Debtor to sell the Property to Sherea Calderon for the purchase price eof $285,000. The 6713 Property shall be sold free and clear of liens, claims and interest of Worthington Bank with such liens, claims, and interest to attach to the proceeds of the sale. The 6713 Property is not one of the Contract Lots and is not included in the Lis Pendens filed by VilHom. At the closing of the sale of the 6713 Property, the closing agent is authorized to distribute the sales proceeds for the payment of normal and customary costs of sale, including commission, title fees, taxes from prior years, and Debtor's portion of the prorated current year taxes assessed against the property, and the payment to Worthington Bank of the Release Price for the 6713 Property. The Buyer of the 6713 Property as identified in the 6713 Agreement is not an "insider" of the Debtor. The 6713 Agreement was negotiated between Buyer and the Debtor at arms-length and in good faith, and Buyer is purchasing the 6713 Property for value. The Buyer is a good faith purchaser within the meaning of section 363(m) of the Bankruptcy Code. About Village Homes for Fort Worth Village Homes for Fort Worth was established in 1996 and has grown into a trusted homebuilder in Fort Worth, Texas, known for its inspired designs and dedication to quality. With almost three decades of experience, the company has fulfilled the dreams of over 1,500 homeowners while collaborating closely with the region's top architects, craftsmen, and vendors. KC 117 LLC sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D.Tex. Case No. 25-43782-mxm) on October 1, 2025. Jeff P. Prostok at Vartabedian Hester & Haynes LLP, represents as legal counsel of the Debtor. WAIKOLOA VILLAGE: Final Cash Collateral Hearing Set for June 16 --------------------------------------------------------------- The U.S. Bankruptcy Court for the Northern District of Georgia, Gainesville Division, is set to hold a final hearing on June 16 on Waikoloa Village Lofts West, LLC's bid to use cash collateral. The Debtor is currently authorized to use cash collateral pursuant to the court's May 28 interim order, which remains effective until the final hearing. Under the interim order, the Debtor is allowed to pay its expenses with cash collateral based on an approved budget. As adequate protection, First Hawaiian Bank was granted a valid and properly perfected replacement lien on all property acquired by the Debtor after the bankruptcy filing that is similar to the lender's pre-petition collateral. This replacement lien does not apply to the proceeds of Chapter 5 avoidance actions. First Hawaiian Bank, as lender, is represented by: Paul M. Rosenblatt, Esq. Kilpatrick Townsend & Stockton, LLP 1100 Peachtree Street, NE, Suite 28800 Atlanta, GA 30309 (404) 815-6321 prosenblatt@ktslaw.com About Waikoloa Village Lofts West LLC Waikoloa Village Lofts West, LLC owns and manages a 100-unit apartment complex in Waikoloa Village, Hawaii, which constitutes its primary business operations. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ga. Case No. 26-20761) on May 14, 2026. In the petition signed by Gary Pinkston, manager, the Debtor disclosed up to $50,000 in assets and up to $500,000 in liabilities. Judge James R. Sacca oversees the case. William Rountree, Esq., at Rountree, Leitman, Klein & Geer, LLC, represents the Debtor as legal counsel. WAIPAHU LLC: Cash Collateral Hearing Set for June 16 ---------------------------------------------------- The U.S. Bankruptcy Court for the Northern District of Georgia is set to hold a final hearing on June 16 on Waipahu, LLC's bid to use cash collateral. The Debtor is currently authorized to use cash collateral under the court's May 29 interim order. This authorization remains in effect until the final hearing. The interim order approved the payment of expenses with cash collateral in accordance with the Debtor's budget and granted protection to Bank of Hawaii through a replacement lien on post-petition assets similar to its pre-petition collateral. This replacement lien does not apply to proceeds of Chapter 5 avoidance actions. The interim order does not determine the validity, priority, or extent of any party's lien rights, and all parties retain the right to challenge those issues at a later stage. The order is available at http://bankrupt.com/misc/Waipahu_ICCOrder.pdf Bank of Hawaii, the primary lender, asserts a security interest in the Debtor's personal property and cash collateral. Other creditors with potential competing interests in the same collateral are Python Financial Solutions, Hydra BV, LLC, and Meridian Pacific Holdings, LLC. About Waipahu LLC Waipahu, LLC is a real estate and investment entity engaged in property development and related business activities. Waipahu sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ga. Case No. 26-20767) on May 14, 2026. In its petition, the Debtor reported assets of up to $50,000 and liabilities of between $1 million and $10 million. Honorable Bankruptcy Judge handles the case. The Debtor is represented by Ceci Christy, Esq., at Rountree Leitman Klein & Geer, LLC. WAIPAHU PROPERTIES: Final Cash Collateral Hearing Set for June 16 ----------------------------------------------------------------- The U.S. Bankruptcy Court for the Northern District of Georgia is set to hold a final hearing on June 16 on Waipahu Properties, LLC's bid to use cash collateral. The Debtor is currently authorized to use cash collateral pursuant to the court's May 28 interim order, which remains effective until the final hearing. Under the interim order, the Debtor is allowed to use cash collateral to pay its expenses based on an approved budget. As adequate protection, the Debtor's lender Bank of Hawaii was granted automatically perfected replacement lien on post-petition property similar to its pre-petition collateral. This replacement lien does not apply to the proceeds of Chapter 5 avoidance actions. Waipahu Properties owns and operates the Seafood City grocery store at Puna Kai Shopping Center in Hawaii. The Debtor believes its revenue from business operations may constitute cash collateral of Bank of Hawaii and is not aware of any other creditor claiming an interest in the cash collateral. About Waipahu Properties LLC Waipahu Properties, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr N.D. Ga. Case No. 26-20768) on May 14, 2026. In its petition, the Debtor reported assets of up to $50,000 and liabilities of between $100,001 and $500,000. Judge James R. Sacca oversees the case. The Debtor is represented by Ceci Christy, Esq., at Rountree Leitman Klein & Geer, LLC. WATER'S EDGE: Court Sustains Objection to David Hirtle's Claim -------------------------------------------------------------- Judge Christopher J. Panos of the U.S. Bankruptcy Court for the District of Massachusetts sustained the objection filed by Water's Edge Limited Partnership to David Hirtle's claim. Pursuant to 11 U.S.C. Secs. 502(b)(1) and (b)(4), Federal Rule of Bankruptcy Procedure 3007, and Massachusetts Local Bankruptcy Rule 3007-1, the Debtor objected to claim number 35-1 filed by David Hirtle and Kathleen Nolan. The Debtor owns and operates the apartment buildings known as the Water's Edge Apartments located at 364 Ocean Avenue, 370 Ocean Avenue, and 388 Ocean Avenue with a total of approximately 306 apartment units situated on a 4.95-acre site in Revere, Mass. The Claimants are current or former tenants of the Property residing at 388 Ocean Avenue, Apt. 1004, in Revere. The Claimants have not filed any legal action against the Debtor in the Housing Court or otherwise prior to the Petition Date. On February 14, 2025, the Claimants filed the Claim asserting an unsecured claim in the amount of $80,000.00, of which $3,350.00 was asserted as a priority claim under 11 U.S.C. Sec. 507(a)(7) and the balance as an unsecured, non-priority claim. In its objection, the Debtor argued the Claim is without factual or legal foundation and should be disallowed in its entirety. According to the Debtor, the Claimants have no legal action pending, no substantiated damages calculation, claims that are at least partially time-barred, a bed-bug allegation unsupported by any independent inspection finding, a proof of claim missing the signature of one of the two named claimants, and a security deposit that will transfer to the new owner rather than be paid through the estate. A copy of the Debtor's objection is available at https://urlcurt.com/u?l=JqPv51 from PacerMonitor.com. About Water's Edge Limited Partnership Water's Edge Limited Partnership is primarily engaged in renting and leasing real estate properties. Water's Edge Limited Partnership sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Mass. Case No. 24-12445) on December 5, 2024. In the petition filed by Evelyn M. Carabetta, authorized representative, the Debtor reports estimated assets and liabilities between $10 million and $50 million each. The Honorable Bankruptcy Judge Christopher J. Panos handles the case. The Debtor tapped Verdolino & Lowey, PC as financial advisor; and Bradford Carlson at Gray, Gray & Gray, LLP as accountant. Water's Edge Limited Partnership is represented by: Kathleen R. Cruickshank, Esq. MURPHY & KING Professional Corporation 28 State Street, Suite 3101 Boston, MA 02109 Tel: (617) 423-0400 Special counsel to the Debtor: William R. Baldiga, Esq. BROWN RUDNICK, LLP One Financial Center Boston, MA 02110 Telephone No.: (617) 856-8586 Email: wbaldiga@brownrudnick.com Counsel to DIV OA Lender, LLC, the Debtor's previous DIP lender, are: John J. Monaghan, Esq. Lynne B. Xerras, Esq. Kathleen M. St. John, Esq. HOLLAND & KNIGHT 10 St. James Avenue, 11th Floor Boston, MA 02116 Tel: (617) 523-2700 Fax: (617) 523-6850 E-mail: Bos-Bankruptcy@hklaw.com Lynne.Xerras@hklaw.com Kathleen.StJohn@hklaw.com Fairbridge Credit, LLC, as DIP lender, is represented by: Kate E. Nicholson, Esq. NICHOLSON DEVINE, LLC 21 Bishop Allen Dr. Cambridge, MA 02139 Tel: (857) 600-0508 E-mail: kate@nicholsondevine.com WELLMADE FLOOR: Unsecureds Will Get 100% in Liquidating Plan ------------------------------------------------------------ Wellmade Floor Coverings International, Inc., ("WFCI") and Wellmade Industries MFR NA LLC ("WMFR") filed with the U.S. Bankruptcy Court for the Northern District of Georgia a Disclosure Statement describing Chapter 11 Plan dated June 1, 2026. As of the Petition Date and prior to the sale of the Debtors' Georgia manufacturing business, Wellmade specialized in the design, production, and distribution of market top-of-the line hard surface flooring collections. The Debtors were founded in 2001, initially focusing on solid and engineered bamboo flooring. After inventing and patenting High-Density Polymer Composite Core (HDPC) in 2015, the Debtors launched the award-winning HDPC Opti-Wood and developed and integrated Unclic/Unipush locking technology to enable easy installation without the need for glue, nails, or additional underlayment. To enhance service for U.S. customers with a focus on flexibility, reduced inventory investment, and increased product turnover, the Debtors decided to establish a domestic manufacturing facility in 2020 and constructed a state-of-the-art manufacturing facility in Cartersville, Georgia. As of the Petition Date, the Debtors produced approximately 50% of all the SPC flooring made in the U.S. and served as a leading OEM supplier, supporting many of the industry's most recognized brands. On August 8, 2025, the Debtors filed a motion (the "Bidding Procedures and Sale Motion") seeking, among other things, approval of (i) bidding procedures in connection with the sale of substantially all of the Debtors' assets, (ii) Debtors' entry into the stalking horse purchase agreement and related bid protections, and (iii) the sale of such assets to the Purchaser or other successful bidder. Following the entry of the Bidding Procedures Order, the Debtors and the Stalking Horse Bidder, AHF IC, continued negotiations regarding the terms of a private sale (the "Private Sale"). As a result of those negotiations, an agreement was reached regarding the terms of a private sale, the Auction was cancelled, and the Debtors stopped soliciting bids for their assets (whether in connection with the Bid Deadline of September 19, 2025 or otherwise). On September 26, 2025, the Debtors filed a motion (the "Private Sale Motion"), seeking entry of an order approving, inter alia, the Private Sale as memorialized in that certain Second Amended and Restated Asset Purchase Agreement (the "APA"), dated as of September 16, 2025, by and among the Debtors and AHF IC. Following the Sale Hearing, on October 8, 2025, the Court entered the order (the "Sale Order") approving the Private Sale of the Debtors' assets pursuant to the APA. The sale closed on November 7, 2025. As stated in the Sale Order, the Private Sale satisfied the outstanding secured claims of both AHF IC and the DIP Lender. The remaining proceeds from the Private Sale will be used to pay the remaining Claims and Interests pursuant to the terms of the Plan. Additionally, certain assets of WFCI that were not sold in the Private Sale, including certain inventory and ownership interest in the non-Debtor Affiliates, will be liquidated or otherwise dealt with pursuant to the terms of the Plan. The Plan provides for the orderly wind down and liquidation of all of the Debtors' assets not sold during these Cases. In accordance with the Plan Administration Agreement and the provisions set forth in the Plan, the Plan Administrator will review and reconcile applicable Claims of the Debtors and will make distributions to Holders of certain Allowed Claims, consistent with the priority of claim provisions of the Bankruptcy Code, with proceeds of the Assets of the Debtors' Estates. Class 4 consists of all General Unsecured Claims. In full and final satisfaction of each General Unsecured Claim (unless the applicable Holder agrees to a less favorable treatment), each Holder thereof will receive payment in full in Cash rendering such Claim Unimpaired. The Allowed amount of any General Unsecured Claim shall include interest accrued from the Petition Date through the date of payment of such Claim at the lower of the Federal Judgment Rate or the Contract Rate. Class 4 is Unimpaired. The allowed unsecured claims total $13.6 million. This Class will receive a distribution of 100% of their allowed claims. Class 5 consists of all Interests in the Debtors. After payment in full of all Allowed Claims, Holders of Interests shall receive and retain all remaining property of the Debtors' Estates in accordance with their respective rights under applicable non bankruptcy law. On the Effective Date, the Plan Administrator shall be appointed without any further action and shall succeed to such powers as would have been applicable to the Debtors' officers, directors, and shareholders, and the Debtors shall be authorized to be dissolved by the Plan Administrator. All Assets not distributed on the Effective Date shall vest in the Debtors and shall be managed and liquidated by the Plan Administrator in accordance with the provisions of the Plan and the Plan Administration Agreement. A full-text copy of the Disclosure Statement dated June 1, 2026 is available at https://urlcurt.com/u?l=4HinWP from Kurtzman Carson Consultants, LLC d/b/a Verita Global, claims agent. Counsel to the Debtors: John D. Elrod, Esq. Allison J. McGregor, Greenberg Traurig, LLP 3333 Piedmont Road NE, Suite 2500 Atlanta, GA 30305 Telephone: 678-553-2259 Facsimile: 678-553-2269 Email: elrodj@gtlaw.com About Wellmade Floor Coverings Wellmade Floor Coverings International Inc. is a manufacturer and distributor of hard-surface flooring products, including bamboo, hardwood, and vinyl. The privately owned company is based in the United States, with a manufacturing facility in Cartersville, Georgia, and sales offices and a warehouse in Portland, Oregon. A non-debtor affiliate operates in China. The company and its affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ga. Lead Case No. 25-58764) on August 4, 2025. In the petition, it reports estimated assets between $500 million and $100 million and $50 million. Honorable Bankruptcy Judge Sage M. Sigler handles the cases. The Debtors are represented by Greenberg Traurig, LLP. Kurtzman Carson Consultants, LLC d/b/a Verita Global is the Debtors' claims, noticing, solicitation and administrative agent. WELLPATH HOLDINGS: Wins Summary Judgment Bid in "Neyland" --------------------------------------------------------- The U.S. District Court for the Eastern District of Louisiana granted Wellpath, LLC's motion for summary judgment in the case captioned as RICHARD NEYLAND, ET AL VERSUS SUSAN HUTSON, ET AL, Case No. 23-cv-01773 (E.D. La.). Plaintiff's claims against Wellpath are dismissed. This opinion addresses whether plaintiff's tort and wrongful death claims against Wellpath LLC ("Wellpath") must be dismissed pursuant to a bankruptcy court's order enjoining suits seeking recovery for pre-bankruptcy claims. Plaintiff asserts that Wellpath and its employees, charged with providing medical care to inmates at the Orleans Justice Center ("OJC"), are responsible for the June 12, 2022 death of his son who, struggling with suicidal ideation, climbed to the top of the mezzanine at the OJC and jumped to his death. On May 25, 2023, plaintiff filed his complaint against Wellpath and other defendants, which he later amended. On November 15, 2024, Wellpath filed for bankruptcy in the Southern District of Texas under Chapter 11 of the United States Bankruptcy Code. On May 1, 2025, the Bankruptcy Court entered an order confirming the Chapter 11 Plan of Reorganization ("Plan") of Wellpath Holdings, Inc., and its affiliates. The Plan became effective on May 9, 2024. Following the effective date of the Plan, several claimants have sued Wellpath in courts across the country, seeking relief for claims asserted against Wellpath and/or the Trust. The bankruptcy court pronounced in its February 2026 clarifying order that: (1) holders of general unsecured claims arising from pre-petition personal injury tort or wrongful death "may proceed in the appropriate civil court and litigate such claim with the Trust as a nominal defendant"; (2) the Plan does not permit "any party to proceed against Wellpath LLC, in any capacity, including as a nominal defendant" but allows a party to proceed only if the debtor's inclusion is necessary for seeking or maintaining insurance; (3) if the holder of a general unsecured claim attempts to litigate prepetition claims against any debtor, including Wellpath, "all such attempts are contrary to the Plan and barred by the injunction as set forth in the Plan"; and (4) the bankruptcy court may impose monetary sanctions on claimants who proceed with their claims in violation of the bankruptcy court's order. According to the District Court, the Clarifying Order protects creditors' ability to recover insurance as it allows parties with pre-petition claims to proceed against a debtor if (1) the inclusion of the debtor is necessary for the party to seek or maintain insurance coverage for their claim and (2) the party follows the appropriate procedure, including requesting a court order, for pursuing their claims against said debtor. As such, the Clarifying Order is in accord with the broad legal principles that the plaintiff has summarized. The Court says Plaintiff has not addressed whether his action is necessary to protect his ability to recover insurance. The District Court finds Wellpath's motion for summary judgment is granted subject to reconsideration upon plaintiff's timely filing of a clarifying order from the bankruptcy court that it may maintain this action against Wellpath in any capacity, including as a nominal defendant and other authorized purposes. A copy of the Court's Order and Reasons dated June 9, 2026, is available at https://urlcurt.com/u?l=LQ7yYR 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. WHITEHALL MANOR: Gets Interim OK to Use Cash Collateral ------------------------------------------------------- The U.S. Bankruptcy Court for the Eastern District of Pennsylvania issued a sixth interim order authorizing Whitehall Manor Inc. and Saucon Valley Manor, Inc. to continue using cash collateral through June 30. Under the sixth interim order, the Debtors are authorized to use cash collateral strictly in accordance with an approved budget, with a permitted variance of up to 10% per line item per week on a rolling four-week basis. The authority remains effective until the final hearing, and the debtors are prohibited from using cash collateral to challenge the secured party's liens or security interests. As adequate protection, secured creditors with interest in the cash collateral will be granted replacement liens on all post-petition assets of the Debtors, maintaining the same validity, extent, and priority as their pre-petition liens, limited to any decline in collateral value. These replacement liens do not apply to avoidance actions. In addition, the order also requires ongoing adequate protection payments. Whitehall Manor and Saucon Valley Manor must each continue making monthly payments of $35,000, while additional monthly payments of $69,844.85 and $69,578.58 must be paid on behalf of Whitehall Trust and Saucon Trust, respectively. The order requires the Debtors to maintain proper financial records and provide ongoing operational reports to the lender. A final hearing on further use of cash collateral is scheduled for June 30. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/Naua7 from PacerMonitor.com. About Whitehall Manor Inc. Whitehall Manor Inc. is a Pennsylvania-based senior care provider. Whitehall Manor Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Pa. Case No. 25-15245) on December 26, 2025. In its petition, the Debtor reports estimated assets of up to $50,000 and estimated liabilities of between $100,000 and $500,000. Honorable Bankruptcy Judge Patricia M. Mayer handles the case. The Debtor is represented by Michelle Lee, Esq. of Dilworth Paxson LLP. WILFONG HOSPITALITY: Files Emergency Bid to Use Cash Collateral --------------------------------------------------------------- Wilfong Hospitality II, LLC asks the U.S. Bankruptcy Court for the Northern District of West Virginia for authority to use cash collateral and provide adequate protection. The Debtor owns and operates the Sonesta Essential Fairmont, a 62-room hotel located in Fairmont, West Virginia, situated near Fairmont State University and local commercial and entertainment districts. The hotel, built in 2012, is managed by Millennium Hospitality Management Group, an independent third-party operator under a management agreement dated February 8, 2018, and includes standard hospitality amenities such as a fitness center, business center, breakfast area, guest laundry, and parking facilities. The Debtor's capital structure includes two secured lenders: Citizens Bank, the senior lender with approximately $2.63 million in outstanding debt secured by a first-priority lien on substantially all of the Debtor's assets, and Burke & Herbert Bank & Trust Company, successor to Summit Community Bank, holding approximately $145,000 in debt secured by a second-priority lien. Both loans are secured by deeds of trust covering the hotel property and related assets, and both lenders assert security interests in substantially all of the Debtor's cash and operating revenues. The Debtor had historically made regular payments but began experiencing defaults around October 2025, leading Citizens Bank to issue a default notice in November 2025 and initiate foreclosure proceedings scheduled for March 2026. Although the parties entered into a forbearance agreement in February 2026 that temporarily halted foreclosure, Citizens later alleged further defaults and re-noticed a trustee’s sale for May 29, 2026, prompting the bankruptcy filing. The Debtor asserts that its primary motivation for filing chapter 11 is to prevent a foreclosure sale that would undermine value maximization efforts and primarily benefit only the senior lender, rather than all stakeholders. The Debtor has engaged a commercial real estate broker and reports receiving significant market interest in the hotel, supporting its plan to either conduct an orderly, marketed sale or pursue reorganization to maximize value. It further contends that the hotel's value, estimated at approximately $4.5 million based on broker analysis, exceeds the combined secured debt, suggesting the existence of an equity cushion protecting lenders. The Debtor emphasizes that all operating cash constitutes cash collateral subject to the lenders' liens, and that continued access to such funds is essential to maintain operations, including staffing, utilities, insurance, management fees, maintenance, and guest services. Without immediate use of cash collateral, the Debtor argues it would be unable to operate, resulting in deterioration of the hotel's value and loss of going-concern viability, thereby harming all creditors. The Debtor proposes a budgeted interim use of funds and offers adequate protection in the form of replacement liens on post-petition assets, particularly accounts receivable and other proceeds, to the extent of any diminution in the lenders' collateral value. Additionally, the Debtor proposes ongoing adequate protection payments, including approximately $10,000 monthly to Citizens Bank and $600 monthly to Burke & Herbert Bank during the case. These protections are intended to preserve the lenders' secured position while allowing the Debtor to continue operations. A copy of the motion is available at https://urlcurt.com/u?l=2R05hM from PacerMonitor.com. About Wilfong Hospitality II, LLC Wilfong Hospitality II, LLC is a hospitality company engaged in the ownership, management, and operation of lodging and hospitality-related assets. Wilfong Hospitality II, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-00366) on May 28, 2026. In its petition, the Debtor reports estimated assets of $1 million to $10 million and estimated liabilities of $1 million to $10 million. Honorable Bankruptcy Judge David L. Bissett handles the case. The Debtor is represented by Stephen L. Thompson, Esq. of Barth & Thompson. WORLD'S BEST: To Retain Middlebrooks Shapiro as Legal Counsel ------------------------------------------------------------- World's Best, LLC seeks approval from the U.S. Bankruptcy Court for the District of New Jersey to hire Middlebrooks Shapiro, P.C. to serve as its legal counsel. The firm will provide these services: (a) give the Debtor and Debtor-in-Possession legal advice in connection with its Chapter 11 case; (b) prepare and file motions, pleadings, applications, and other legal papers on behalf of the Debtor; (c) represent the Debtor in court hearings and related proceedings; (d) negotiate with creditors and other parties in interest; (e) assist in the formulation and preparation of a Chapter 11 plan of reorganization; and (f) ensure compliance with applicable provisions of the Bankruptcy Code and Local Rules. Middlebrooks Shapiro, P.C. will receive a $20,000 retainer, plus $1,738 for filing fees prior to the petition date. The professional will be paid at these hourly rates: Melinda D. Middlebrooks $500 Joseph M. Shapiro $450 Jessica M. Minneci $400 paralegals and law clerks $100 Middlebrooks Shapiro, P.C. is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code, according to court filings. The firm can be reached at: Jessica M. Minneci, Esq. Melinda D. Middlebrooks, Esq. Joseph M. Shapiro, Esq. MIDDLEBROOKS SHAPIRO, P.C. P.O. Box 1630 Belmar, NJ 07719-1630 Telephone: (973) 218-6877 E-mail: jminneci@middlebrooksshapiro.com About World's Best, LLC World's Best, LLC sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. New Jersey Case No. 26-16378) on June 4, 2026. At the time of the filing, Debtor had estimated assets of between $0 and $50,000 and liabilities of between $1,000,001 and $10 million. Judge Mark Edward Hall oversees the case. Middlebrooks Shapiro, P.C. is Debtor's legal counsel. XEROX HOLDINGS: S&P Cuts ICR to 'SD' on Below-Par Debt Repurchase ----------------------------------------------------------------- S&P Global Ratings lowered its issuer credit rating on Xerox Holdings Corp. to 'SD' (selective default) from 'CCC+'. S&P also lowered its issue-level ratings on the unsecured notes due in 2028 to 'D' from 'CCC'. All other issue-level ratings are unchanged. Xerox Holdings repurchased about $101 million of face value of its senior unsecured notes due in 2028 on the open market in the first quarter of 2026, capturing a discount of about $56 million. S&P views this transaction as offering less than the original promise to the holders of those notes. This is in the context of potential refinancing risks given challenging growth prospects in a secularly declining print industry and expected core free operating cash flow (FOCF) deficits (which excludes the benefit from finance receivable reductions). S&P said, "We view the below-par repurchases of the 2028 notes as tantamount to a selective default. Xerox repurchased about 13% of the principal of the notes due in 2028 during the first quarter of 2026. We believe these noteholders received less than the original promise since the repurchases were done well below par. Xerox has also stated willingness to manage its outstanding debt balance ahead of upcoming maturities through further below-par repurchases or exercises of its issued common stock warrants. Absent these transactions, we believe there would be greater risks refinancing the notes due in 2028 and 2029 ($649 million and $500 million outstanding respectively as of Mar. 31, 2026) at favorable rates and at par. These represent the company's nearest debt maturities outside of its $125 million senior bridge notes due in June 2026 which we believe it will have sufficient liquidity to cover without refinancing. "We will reassess the issuer credit rating within several days. We expect to raise the issuer credit rating to 'CCC+' or below. While the repurchase of the notes due in 2028 somewhat reduces the size of that maturity, we believe significant refinancing risks remain. This reflects our expectation of continued negative reported core FOCF in 2026 with Xerox's recent joint venture financing, adding $40 million-$55 million to an already considerable annual cash interest burden. This is despite the good progress it seems to have made realizing cost savings and Lexmark-related cost synergies. We also expect reported pro forma revenue declines in 2026 of 4%-6% given the challenged print market. "We will likely maintain the 'D' issue-level rating on the senior unsecured notes due in 2028 until we no longer expect further below-par repurchases or other transactions we may view as a debt restructuring to affect that instrument in the near term." ZOOMINFO TECHNOLOGIES: Moody's Alters Outlook on 'Ba3' CFR to Neg. ------------------------------------------------------------------ Moody's Ratings affirmed ZoomInfo Technologies, Inc.'s (ZoomInfo) Ba3 corporate family rating and Ba3-PD probability of default rating. Moody's also affirmed ZoomInfo, LLC's backed senior secured credit facility, consisting of the $276 million revolver expiring February 2028 and the $578 million (carrying value as of March 31, 2026) term loan maturing February 2030, at Ba1 and ZoomInfo Technologies LLC's $650 million 3.875% backed senior unsecured notes due February 2029 at B1. The speculative grade liquidity rating remains at SGL-1. The outlook for the three entities was revised to negative from stable. On May 11, ZoomInfo announced that it would accelerate its plan to reposition its non-enterprise business, incur $45 million to $60 million of cash restructuring costs, and lower its revenue and earnings guidance for 2026. The affirmation of the Ba3 CFR reflects ZoomInfo's defensible market position in go to market software, data, and intelligence and Moody's anticipations for debt/EBITDA below 4.5x and free cash flow/debt in excess of 20% over the next 12–18 months. The revision of the outlooks to negative from stable is driven by Moody's concern that pressure on pricing and client retention from new and existing competitors could delay or forestall a return to revenue growth. Heightened business risks from the disruption to enterprise IT budgets from new technologies, including agentic artificial intelligence solutions, may persist. These headwinds to ZoomInfo's strategic repositioning are also drivers of the negative outlooks. ESG governance considerations were a key driver of the affirmation. ZoomInfo's shareholder-friendly capital allocation policies pose moderate governance risks. However, Moody's expects balanced financial strategies, featuring a combination of internal investments, debt reduction and shareholder returns with ZoomInfo's strong free cash flow, over the next 12 to 18 months. RATINGS RATIONALE The Ba3 CFR reflects Moody's expectations that ZoomInfo will grow operating margins through cost discipline in a slower demand environment and maintain financial leverage within its net leverage target (as defined by the company) of 3x; this ratio stood at 2.4x as of March 31, 2026. As Moody's measures it, debt/EBITDA was 4x as of that date. The announced restructuring and acceleration of the company's strategic pivot (first announced in early 2025) leads us to consider the prospect of a return to higher revenue growth rates more uncertain. Despite Moody's concerns about revenue growth, Moody's projects that the company will maintain high profitability rates and generate annual free cash flow in excess of $250 million in 2026, net of cash costs associated with the announced restructuring. All financial metrics cited reflect Moody's standard adjustments, unless otherwise noted. ZoomInfo's highly recurring, subscription based revenue model features solid customer retention in its core enterprise segment, powering strong profitability rates and a very good liquidity profile, supported by Moody's anticipations for robust free cash flow generation. The company's modest revenue size relative to other issuers also rated in the Ba3 CFR category, exposure to cyclical customer spending and intense industry competition, including from emerging AI-forward business models, also pressure the ratings. Moody's anticipates financial strategies will continue to feature large share repurchases. A substantial portion of employee compensation is paid in company shares, leading us to anticipate that the company will at least manage the dilutive impact of issuing those shares. Although ZoomInfo's net leverage (as defined by the company) was below its stated target as of March 31, 2026, Moody's would consider additional debt funding for acquisitions or share repurchases before the company achieves its profitability and revenue growth goals a shift to more aggressive financial strategies, which would add downward pressure to the ratings. The SGL-1 speculative grade liquidity rating reflects ZoomInfo's very good liquidity profile, supported by Moody's anticipations for strong free cash flow from highly-recurring subscription revenue, $175 million of cash and marketable securities on March 31, 2026, and $176 million of availability under the $276 million revolving credit facility on that date. Revolver availability is subject to a springing consolidated first lien net leverage ratio covenant of 5.0x that must be measured when revolver borrowings exceed 35% of availability. Moody's believes there will be ample cushion within the covenant based on Moody's projected earnings levels for the next 12-15 months if it is measured. There is no financial maintenance covenant applicable to the term loan. The affirmation of the Ba1 senior secured rating, which is two notches above the company's Ba3 CFR, reflects the affirmation of the Ba3 CFR and credit facility's priority position in the capital structure that benefits from loss absorption provided by the unsecured notes and non-debt obligations. The revolver and term loan are supported by guarantees and asset pledges from all material wholly owned domestic restricted subsidiaries of ZoomInfo, LLC and are guaranteed by ZoomInfo MidCo LLC. ZoomInfo Technologies LLC is a co-borrower under the credit facility. The affirmation of the B1 senior unsecured notes rating, which is one notch below the company's Ba3 CFR, reflects the CFR affirmation and the notes junior ranking and effective subordination to the senior secured credit facility. The senior notes are issued by ZoomInfo Technologies LLC and ZoomInfo Finance Corp., indirect subsidiaries of the company, and are supported by guarantees from all material wholly owned domestic restricted subsidiaries of ZoomInfo, LLC and ZoomInfo MidCo LLC. A downgrade of the CFR to B1 from Ba3 could result in a two notch downgrade of the senior unsecured rating to B3 from B1. ZoomInfo MidCo LLC is a direct subsidiary of Zoom Holdings LLC and Zoom Intermediate Inc., both of which are direct, wholly-owned subsidiaries of the company and, according to the company, do not have any material operations, assets (other than their ownership interests in their direct subsidiaries) or liabilities. Therefore, Moody's considers the financial statements issued by the company to be fully and fairly representative of the financial condition of ZoomInfo MidCo LLC. The negative outlook reflects Moody's concern that ZoomInfo's return to revenue growth may be hampered by competitive pressures and slowed IT spending by its enterprise customers. Moody's could revise the outlook to stable from negative if ZoomInfo demonstrates stability or growth in revenue, pricing power and customer retention, generates strong free cash flow, maintains very good liquidity, and manages financial leverage within its stated financial framework. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS Given the negative outlook, Moody's do not consider an upgrade likely in the near term. Over the longer term, the ratings could be upgraded if ZoomInfo demonstrates sustained improvement in revenue size, operating scale and customer growth, continued strong profitability, balanced financial policies, and debt/EBITDA sustainably below 4x. Factors that could lead to a downgrade of the ratings include sustained revenue contraction or material profit margin compression, or a more aggressive financial policy that results in weaker credit metrics, including debt/EBITDA remaining above 5x. 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. Headquartered in Vancouver, WA, ZoomInfo (NASDAQ: GTM) is a provider of go-to-market software, data, and intelligence for sales, marketing, and recruiting teams. Its go-to-market intelligence platform empowers businesses with AI-ready insights, trusted data, agent-assisted selling, and advanced automation, providing sales, marketing, operations, and recruiting professionals accurate information and insights on the organizations and professionals they target. Moody's expects 2026 revenue of about $1.2 billion. ********* 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. 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