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260616.mbx T R O U B L E D C O M P A N Y R E P O R T E R Tuesday, June 16, 2026, Vol. 30, No. 167 Headlines 1029 KIPLING: Seeks to Tap Michael C. Schonberger as Legal Counsel 1327-9 NORTH: Seeks to Hire Michael C. Schonberger as Counsel 145 ALLEN: Case Summary & Three Unsecured Creditors 149 EMERALD STREET: Seeks Chapter 11 Bankruptcy in New Jersey 2050 BATH AVE: Case Summary & Two Unsecured Creditors 230 BOND ST: Seeks to Hire Michael C. Schonberger as Legal Counsel 2302 WINDSONG: Seeks Chapter 11 Bankruptcy in New Jersey 23ANDME HOLDINGS: Agrees to Pay $46.7M to Settle Data Breach Claims 2434 SOUTH: Starts Chapter 11 Bankruptcy in New Jersey 2762 KINGSBRIDGE: Has Deal on Cash Collateral Access 415 MAGIE: Seeks to Hire Michael C. Schonberger as Counsel 439 MARSHALL: Seeks to Tap Michael C. Schonberger as Counsel 468 FOURTH: Seeks to Hire Michael C. Schonberger as Counsel 4916 LINDER: Seeks Chapter 11 Bankruptcy in Illinois 501 JERSEY: Seeks to Tap Silverman Law as General Counsel 527 HOLDINGS: Case Summary & Nine Unsecured Creditors 581 105TH AVENUE: Case Summary & Four Unsecured Creditors 581 105TH: Commences Chapter 11 Bankruptcy in Florida 583 EVERGREEN: Seeks Chapter 7 Bankruptcy in New York 5830 FLORIDA: Starts Chapter 11 Bankruptcy in Louisiana 830 COUNTY ROAD: Seeks Chapter 11 Bankruptcy in New Jersey A BEAUTIFUL LIVING: Case Summary & 20 Largest Unsecured Creditors ACCESS & SERVICE: Case Summary & 20 Largest Unsecured Creditors ACHIM OPERATINGCO: Commences Chapter 11 Bankruptcy in New Jersey ADI GLOBAL: S&P Assigns 'BB-' Issuer Credit Rating, Outlook Stable AFC ACQUISITION: Gets Interim OK to Use Cash Collateral AHT TRANSPORT: Gets Interim OK to Use Cash Collateral ALABAMA AUTO: Unsecureds to Get 40% Dividend over 60 Months ALACHUA GOVERNMENT: DOD's $147MM Bankruptcy Claim Reduced to $5MM ALL BUSINESS: Ronald Friedman Named Subchapter V Trustee ALLEGIANT TRAVEL: Fitch Affirms BB- LongTerm IDR, Outlook Negative ALVAREZ REALTY: Voluntary Chapter 11 Case Summary AM PYROTECHNICS: Unsecureds Will Get 92.8% via Quarterly Payments AMERICAN LOCATING: Gets Interim OK to Use Cash Collateral AMERICAN TOOL: Gets OK to Tap BJC Advisors as Restructuring Advisor ANGIE'S MOBILE: Gets Interim OK to Use Cash Collateral APLD COMPUTECO 3: Fitch Assigns 'BB-(EXP)' IDR, Outlook Positive ARCHITECTURAL GLAZING: Seeks to Tap Lucove Say & Co. as Accountant ARMADILLO DISTRIBUTION: Case Summary & 20 Top Unsecured Creditors ASHFORD HOSPITALITY: Completes $16 Million Sale of Chicago Hotel ASPIRING SOLUTIONS: Unsecureds Will Get 6.5% over 60 Months AURA SYSTEMS: Needs Additional Time to Complete Annual Report AVALON GLOBOCARE: Appoints Sam Knipper as Chief Financial Officer AVALON GLOBOCARE: Obtains $400K Financing From Dune, FirstFire AVITA MEDICAL: Stockholders OK All Proposals at Annual Meeting BEELINE HOLDINGS: C/M Capital and Affiliates Disclose Equity Stakes BIG DIGITAL: Secures $40 Million Revolving Credit Facility BIOMERICA INC: Agrees to Sell 6% Stake in Diagnosis S.A. for $500K BLUE CLOUDS: Case Summary & 16 Unsecured Creditors BLUE IVY: Seeks Chapter 11 Bankruptcy in Massachusetts BLUE STONE PROPERTIES: Seeks Chapter 11 Bankruptcy in New Jersey BLUEPRINT EAST: Richard Furtek Named Subchapter V Trustee BRANAVA INC: Gets Final OK to Use Cash Collateral BRANAVA INC: Unsecureds Will Get 3.72% of Claims over 5 Years BROADWAY LEARNING: Gets Interim OK to Use Cash Collateral BUTLER HEALTH: Moody's Reviews 'Ba1' Issuer Rating for Upgrade C & J STORM: Seeks to Hire J.M. Cook as General Bankruptcy Counsel C & S ADKINS: Gets Interim OK to Use Cash Collateral CAMBER ENERGY: Viking Energy Inks Amalgamation Deal With T&T Power CAN TRAIL: Gets Final OK to Use Cash Collateral CEDAR ARCH: Hires Williams Meservy & Larsen as Special Counsel CES MAIL: Gets Extension to Access Cash Collateral CHARLOTTE BUYER: Moody's Rates Amended Bank Facilities 'B3' CHEESE SHOP: Seeks to Hire Hendren Redwine & Malone as Counsel CIMG INC: Increases Authorized Common Shares to 5 Billion CITIUS PHARMACEUTICALS: Holds 71% Equity Stake in Citius Oncology CLEAN ENERGY: Secures $260,000 Loan From Agile Capital CLEANSTEAM INC: Unsecured Creditors to Split $8K in Plan COMPANDSAVE.COM INC: Unsecured Creditors to Get 18 Cents on Dollar CONCORDIA INVESTMENT: Seeks Chapter 11 Bankruptcy in Florida CONLIN STREET: Seeks Approval to Tap NAI Rampart as Leasing Agent CONSEJO DE TITULARES: Hires Monge Robertin Advisors as Advisor CONSEJO DE TITULARES: Hires Nelson Robles-Diaz as Counsel CV SCIENCES: Fails to Secure Approval for Reverse Stock Split D & D VENTURE: Case Summary & 20 Largest Unsecured Creditors DAX INTERNATIONAL: Seeks to Hire Bilu Law as Bankruptcy Counsel DEL MONTE: Minority Creditors Seek Immediate Appeal to 3rd Circuit DEM REAL: Case Summary & TWO Unsecured Creditors DEM REAL: Seeks to Tap Grier Wright Martinez as Bankruptcy Counsel DIESEL DEVELOPMENT: Seeks 30-Day Extension of Plan Filing Deadline DIVERSIFIED WIRE: Court Modifies Final DIP Order DNA ELECTRICAL: Hires Tax Workout Group as Bankruptcy Counsel DNA X: Terminates $500MM Equity Purchase Agreement With Chardan DOHENY SUNSET: Commences Chapter 11 Bankruptcy in California DRIVESMART SYSTEMS: Taps Rountree Leitman Klein & Geer as Counsel DRW HOLDINGS: Moody's Puts 'Ba2' CFR on Review for Downgrade DTE ENERGY: Fitch Assigns 'BB+' Rating on Jr. Subordinated Notes DYE & DURHAM: S&P Lowers ICR to 'CCC+', Outlook Negative DYNABODY LLC: Seeks to Hire Grier Wright Martinez as Legal Counsel EMMA BUYER: Fitch Assigns 'B' LongTerm IDR, Outlook Stable ENERGY FOCUS: Raises $250,000 in Private Placement ENGLEWOOD HOSPITALITY: Gets Extension to Access Cash Collateral ETEGRA INC: Unsecured Creditors to Get $1K per Month for 5 Years FIRST BRANDS: Chap. 11 Fight Erupts Over Inventory Liens FLOOR AND DECOR: S&P Rates New $200MM Sr. Secured Term Loan 'BB' FORTUNA STONEWORKS: Taps Rountree Leitman Klein & Geer as Counsel GEORGE AVE 2: Hires Wadsworth Garber Warner as Counsel GLOBAL COMMUNITY: S&P Affirms 'B+' Long-Term Rating on 2022 Bonds GLOO HOLDINGS: Raises Fiscal 2026 Revenue Guidance to $195 Million GOHEALTH INC: Seeks to Tap Donlin Recano & Company as Claims Agent GREEN VILLA: Seeks to Hire DeMarco Mitchell as Bankruptcy Counsel GREYHOUND ARAMINGO: Leona Mogavero Named Subchapter V Trustee HAK ENTERPRISES: Creditors to Get Proceeds From Liquidation HAMM RE PARTNERS: Case Summary & Three Unsecured Creditors HAMM RE: Seeks Subchapter V Bankruptcy in Massachusetts HAWAII MOLD: HMF Unsecureds to Get Share of Income for 3 Years HIGH WIRE: Raises $34K Through Series G Preferred Stock Issuance HOMESTEAD VILLAGE: Seeks to Hire Colliers Paragon as Estate Broker HOWARD HUGHES: S&P Raises Senior Unsecured Debt Rating to 'BB+' HUBBARD INGREDIENTS: Taps McCormack of Marshall & Stevens as CRO INDITEX VENTURES: Claims to be Paid from Disposable Income INOTIV INC: Secures $65.4MM DIP Loan for Chapter 11 Restructuring INSPIRED HEALTHCARE: Seeks to Hire Dechert as Bankruptcy Counsel INSPIREMD INC: Three Key Proposals OK'd at Annual Meeting ISLAND LAKE CAMPCO: Seeks Chapter 11 Bankruptcy in New Jersey JAGUAR HEALTH: Stockholders Approve Five Annual Meeting Proposals JAYBROOK RENTALS: Seeks to Extend Plan Exclusivity to Sept. 2 JOANN INC: Vendor Claims Not Precluded by Sale Order JOBEE EXPRESS: Claims to be Paid from Future Revenue JOJOTO GRILL: Gets Interim OK to Use Cash Collateral JPK NEWCO: Developer RE1, et al. Lose Bid to Dismiss Ch. 11 Case JTRE 14 VESEY: Claims to be Paid from Property Sale Proceeds K&M JACKSON: Unsecured Creditors to Split $75K in Plan KATAPULT HOLDINGS: Executes Third Amendment to Credit Facility KIITOS BREWING: Seeks to Hire Gibbons & Associates as Accountant KULA GRAIN: Claims to be Paid from Asset Sale Proceeds LEXORA INC: Gets Sixth Interim OK for Post-Petition Factoring Deal LIFE LINE: Seeks to Hire Lane Law Firm PLLC as Counsel LITHOTYPE COMPANY: Seeks to Extend Plan Exclusivity to Oct. 7 LONE WOLF: Case Summary & Three Unsecured Creditors LORENZO'S DOG: Case Summary & 19 Unsecured Creditors M.D.K. HOLDINGS: Commences Chapter 11 Bankruptcy in Florida MAJESTIC DESSERTS: Seeks to Tap Lamb & Ambrose CPAs as Accountant MAR ENTERPRISES: Gets Extension to Access Cash Collateral MARK D. BORNSTEIN: Court Extends Cash Collateral Access to July 21 MARS FX US: Committee Seeks to Hire Lowenstein Sandler as Counsel MERCY HOSPITAL: MercyOne Lacks Standing to Appeal Plan Approval MERIDIAN ARC: S&P Assigns 'BB-' Rating to New Senior Secured Notes MISS AMERICA: CEO Seeks Court Ban on Former Attorney MOGENAVLAND LLC: Commences Chapter 11 Bankruptcy in New Jersey MVP GROUP: Unsecured Creditors Will Get 10% over 60 Months NETCAPITAL INC: Pursues $5 Million Acquisition of Resmac Assets NEW LIFE PROPERTY: Initiates Chapter 7 Bankruptcy in Florida NORTH JERSEY: Voluntary Chapter 11 Case Summary NORTH STAR: Seeks to Extend Plan Exclusivity to Oct. 8 NV FREIGHT: Seeks to Hire Modestas Law Offices as General Counsel O'BRIEN ENERGY: Gets Interim OK to Use Cash Collateral OCUGEN INC: Ramesh Ramachandran Resigns as Chief Accounting Officer ODYSSEY MARINE: Key Proposals OK'd at 2026 Annual Meeting ONE SOURCE DIRECT: Initiates Chapter 11 Bankruptcy in California OPTIMUM COMMUNICATIONS: Patrick Drahi Updates Beneficial Ownership PERFORMANCE CONSULTING: Taps Lefkovitz & Lefkovitz as Legal Counsel PHARMA-NATURAL INC: Hires Joel M. Aresty as Bankruptcy Counsel PLANET FINANCIAL: Moody's Ups Rating on Senior Unsecured Debt to B3 PLEASANT HEIGHTS: Mark Politan Named Subchapter V Trustee POPOVICH ENTERPRISES: Patricia Fugee Named Subchapter V Trustee PRO CARPENTRY: Claims to be Paid from Litigation & Sale Proceeds PSI SERVICES: Claims to be Paid from Income PURSE LADIES: Gets Extension to Use Cash Collateral QUARTZ ACQUIRECO: S&P Alters Outlook to Negative, Affirms 'B' ICR QVC GROUP: Seeks Chapter 11 Plan OK Despite Shareholder Objections RAINMAKER CIDER: Unsecureds to Get Share of Income for 36 Months READY ROOFING: Aaron Cohen Named Subchapter V Trustee REALTY 4: Seeks Chapter 7 Bankruptcy in Arizona RENDITIONS LLC: Unsecureds to Get Share of Income for 36 Months RITE AID: Trust Clash with McKesson Over Chapter 11 Claims Transfer RIVER FALL: Unsecured Creditors Will Get 50% of Claims in Plan ROBERT BAS LAW: Unsecureds to Get Share of Income for 3 Years ROLLING HILLS LANDCO: Seeks Chapter 11 Bankruptcy in New Jersey RUEZGA HAULING: Seeks Subchapter V Bankruptcy in California SAILORMEN INC: Plan Exclusivity Period Extended to Sept. 12 SAKS GLOBAL: Plan Exclusivity Period Extended to Aug. 11 SAMSON METAL: Gets Court OK to Use Cash Collateral SANTIN AUTO: Trustee Gets OK to Employ Greg T. Murray as Accountant SECURITY CHECK: Kathleen DiSanto Named Subchapter V Trustee SHERIFA ENTERPRISES: Seeks to Hire Amore Law as Bankruptcy Counsel SHERWOOD LANE: Seeks to Hire Michael P. Heiser as Legal Counsel SHIV POOJA: Voluntary Chapter 11 Case Summary SHOW LOW: Seeks to Hire Land Advisors Organization as Broker SILVER STAR: Gets Interim OK to Use Cash Collateral SLEEP NUMBER: Board Approves One-Time Executive Retention Awards SMART COUNSELING: Seeks to Hire Janus Law as Bankruptcy Counsel SP TRANS: Gets Interim OK to Use Cash Collateral Until July 3 SPHERE 3D: Closes All-Stock Acquisition of Cathedra Bitcoin SPIRIT AIRLINES: Wins Interim OK for Exec. Bonuses During Wind Down SSP WASTE: Creditors to Get Proceeds From Liquidation SUN GIR: Seeks to Tap The Bensamochan Law Firm as Legal Counsel SUNNY LIQUOR: Mark Schlant Named Subchapter V Trustee TM36 LLC: Committee Seeks to Hire Dykema Gossett as Legal Counsel TRICOLOR AUTO: Judge Rakoff Clears Big Banks in Investor Fraud Suit TRINSEO PLC: Bank, Union, Supplier Join Creditor Committee TRINSEO PLC: Paul Hastings Represents Ad Hoc Noteholders Group TRIPLE RRR: Seeks Chapter 7 Bankruptcy in Texas TROVE BREWING: Steven Nosek Named Subchapter V Trustee TWO FISH: Gets Interim OK to Use Cash Collateral TWO FISH: Seeks to Tap Ford & Semach as General Bankruptcy Counsel U.S. TELEPACIFIC: S&P Withdraws 'CCC-' Issuer Credit Rating VANTAGE GROUP: S&P Lowers LT ICR to 'BB' on Acquisition by Howard VIATRIS INC: S&P Rates New Euro-Denominated Sr. Unsec. Notes 'BB+' VIRGINIA PARK: Seeks to Hire Cascadia Capital as Investment Banker WAIKOLOA VILLAGE: Taps Rountree Leitman Klein & Geer as Counsel WILSON 1350: Seeks to Hire Landrau Rivera & Assoc. as Attorney WKH LLC: Voluntary Chapter 11 Case Summary WORLD CLASS ACADEMY-VERO: Seeks Chapter 11 Bankruptcy in Florida ZION OIL & GAS: All Management Proposals OK'd at Annual Meeting ********* 1029 KIPLING: Seeks to Tap Michael C. Schonberger as Legal Counsel ------------------------------------------------------------------ 1029 Kipling Rd, LLC seeks approval from the U.S. Bankruptcy Court for the District of New Jersey to employ the Law Offices of Michael C. Schonberger as counsel. The firm will represent the Debtor in this Chapter 11 case, including court filings, motions, hearings, creditor communications, U.S. Trustee compliance, review of claims, negotiation with secured creditors, preparation of operating reports, and plan/disclosure statement work. Michael Schonberger, Esq., will be paid at his hourly rate of $400. Mr. Schonberger disclosed in a court filing that his firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Michael C. Schonberger, Esq. Law Offices of Michael C. Schonberger 44 Bright St. Jersey City, NJ 07302 Telephone: (201) 492-1212 Email: Michael@bergeresq.com About 1029 Kipling Rd LLC 1029 Kipling Rd LLC is a New Jersey-based real estate holding company that owns and manages commercial and residential properties. The company focuses on property acquisition, leasing, and management services within the regional market. 1029 Kipling Rd LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.N.J. Case No. 26-13508) on March 31, 2026, listing up to $1 million in both assets and liabilities. The Debtor is represented by the Law Offices of Michael C. Schonberger, LLC. 1327-9 NORTH: Seeks to Hire Michael C. Schonberger as Counsel ------------------------------------------------------------- 1327-9 North Ave, LLC seeks approval from the U.S. Bankruptcy Court for the District of New Jersey to employ the Law Offices of Michael C. Schonberger as counsel. The firm will represent the Debtor in this Chapter 11 case, including court filings, motions, hearings, creditor communications, U.S. Trustee compliance, review of claims, negotiation with secured creditors, preparation of operating reports, and plan/disclosure statement work. Michael Schonberger, Esq., will be paid at his hourly rate of $400. Mr. Schonberger disclosed in a court filing that his firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Michael C. Schonberger, Esq. Law Offices of Michael C. Schonberger 44 Bright St. Jersey City, NJ 07302 Telephone: (201) 492-1212 Email: Michael@bergeresq.com About 1327-9 North Ave LLC 1327-9 North Ave LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.N.J. Case No. 26-15529) on May 15, 2026, listing up to $1 million in both assets and liabilities. The Debtor is represented by the Law Offices of Michael C. Schonberger. 145 ALLEN: Case Summary & Three Unsecured Creditors --------------------------------------------------- Debtor: 145 Allen Legacy Ltd Liability Co. 136-17 Maple Avenue, Apt. 12B Flushing, NY 11355 Business Description: 145 Allen Legacy Ltd Liability Co. is a real estate entity that owns a rental apartment building at 145 Allen Street in New York, New York. Chapter 11 Petition Date: June 8, 2026 Court: United States Bankruptcy Court Eastern District of New York Case No.: 26-42816 Judge: Hon. Jil Mazer-Marino Debtor's Counsel: Btzalel Hirschhorn, Esq. SHIRYAK, BOWMAN, ANDERSON, GILL & KADOCHNIKOV, LLP 80-02 Kew Gardens Road Suite 600 Kew Gardens, NY 11415 Tel: 718-263-6800 Fax: 718-520-9401 Email: Bhirschhorn@sbagk.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Jane Wu as member. A full-text copy of the petition, which includes a list of the Debtor's three unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/S7RGSSA/145_Allen_Legacy_Ltd_Liability__nyebke-26-42816__0001.0.pdf?mcid=tGE4TAMA 149 EMERALD STREET: Seeks Chapter 11 Bankruptcy in New Jersey ------------------------------------------------------------- On June 4, 2026, 149 Emerald Street Leasing LLC filed for Chapter 11 protection in the U.S. Bankruptcy Court for the District of New Jersey. According to court filings, the Debtor reports between $500 million and $1 billion in debt owed to between 50,001 and 100,000 creditors. The Chapter 11 Debtors' exclusive right to file a reorganization plan expires on October 2, 2026. About 149 Emerald Street Leasing LLC 149 Emerald Street Leasing LLC is a real estate leasing and property holding company engaged in the ownership, leasing, and management of commercial real estate assets. 149 Emerald Street Leasing LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-16517) on June 4, 2026. In its petition, the Debtor reports estimated assets between $100 million and $500 million and estimated liabilities between $500 million and $1 billion. Honorable Bankruptcy Judge Christine M. Gravelle handles the case. The Debtor is represented by Michael D. Sirota, Esq. of Cole Schotz P.C. 2050 BATH AVE: Case Summary & Two Unsecured Creditors ----------------------------------------------------- Debtor: 2050 Bath Ave LLC 2050 Bath Avenue Brooklyn, NY 11214 Business Description: 2050 Bath Ave LLC is a Brooklyn, New York- based single-asset real estate entity that owns a three-story mixed-use property at 2050 Bath Avenue, also known as 161 Bay 26th Street, in Brooklyn's Bath Beach neighborhood. Chapter 11 Petition Date: June 9, 2026 Court: United States Bankruptcy Court Eastern District of New York Case No.: 26-42831 Judge: s to evaluate possible disqualification or Debtor's Counsel: Ronald D. Weiss, Esq. RONALD D. WEISS, P.C. 445 Broadhollow Road Suite CL-10 Melville, NY 11747 Tel: (631) 271-3737 Fax: (631) 271-3784 E-mail: weiss@ny-bankruptcy.com Total Assets: $2,359,927 Total Liabilities: $1,100,000 The petition was signed by Zakia Khan as sole member. A full-text copy of the petition, which includes a list of the Debtor's two unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/T5HQFTA/2050_Bath_Ave_LLC__nyebke-26-42831__0001.0.pdf?mcid=tGE4TAMA 230 BOND ST: Seeks to Hire Michael C. Schonberger as Legal Counsel ------------------------------------------------------------------ 230 Bond St, LLC seeks approval from the U.S. Bankruptcy Court for the District of New Jersey to employ the Law Offices of Michael C. Schonberger as counsel. The firm will represent the Debtor in this Chapter 11 case, including court filings, motions, hearings, creditor communications, U.S. Trustee compliance, review of claims, negotiation with secured creditors, preparation of operating reports, and plan/disclosure statement work. Michael Schonberger, Esq., will be paid at his hourly rate of $400. Mr. Schonberger disclosed in a court filing that his firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Michael C. Schonberger, Esq. Law Offices of Michael C. Schonberger 44 Bright St. Jersey City, NJ 07302 Telephone: (201) 492-1212 Email: Michael@bergeresq.com About 230 Bond St LLC 230 Bond St, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.N.J. Case No. 26-14742) on April 28, 2026, listing up to $1 million in both assets and liabilities. The Debtor is represented by the Law Offices of Michael C. Schonberger. 2302 WINDSONG: Seeks Chapter 11 Bankruptcy in New Jersey -------------------------------------------------------- On June 4, 2026, 2302 Windsong Drive Leasing LLC filed for Chapter 11 protection in the U.S. Bankruptcy Court for the District of New Jersey. According to court filings, the Debtor reports between $500 million and $1 billion in liabilities owed to between 50,001 and 100,000 creditors. Exclusive plan-filing rights for Chapter 11 debtors end on October 2, 2026. About 2302 Windsong Drive Leasing LLC 2302 Windsong Drive Leasing LLC is a leasing and real estate holding company that owns and manages leased property assets and related investments. 2302 Windsong Drive Leasing LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-16468) on June 4, 2026. In its petition, the Debtor reported estimated assets between $100 million and $500 million and estimated liabilities between $500 million and $1 billion. The Debtor is represented by Michael D. Sirota, Esq. of Cole Schotz P.C. 23ANDME HOLDINGS: Agrees to Pay $46.7M to Settle Data Breach Claims ------------------------------------------------------------------- Emily Lever of Law360 reports that the trust created under 23andMe's Chapter 11 plan has agreed to pay $46.7 million to settle claims arising from the DNA-testing company's 2023 data breach, a move the trust described as a critical milestone in addressing the aftermath of the cyberattack. The settlement is intended to resolve allegations brought by consumers who claimed their personal and genetic information was compromised. Trust officials said the deal eliminates substantial litigation risks while providing a framework for compensating affected individuals without prolonged court battles, according to report. The proposed resolution will now be presented for judicial review. Approval of the agreement would help streamline the administration of the bankruptcy estate and bring closure to one of the most significant disputes remaining from the company's restructuring, the report relays. 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. 2434 SOUTH: Starts Chapter 11 Bankruptcy in New Jersey ------------------------------------------------------ On June 4, 2026, 2434 South Interstate 35E Leasing LLC filed for Chapter 11 protection in the U.S. Bankruptcy Court for the District of New Jersey. According to court filings, the Debtor reports between $500 million and $1 billion in debt owed to between 50,001 and 100,000 creditors. The Chapter 11 Debtors’ exclusive period to file a reorganization plan expires on October 2, 2026. About 2434 South Interstate 35E Leasing LLC 2434 South Interstate 35E Leasing LLC is a real estate leasing and property holding company engaged in the ownership, leasing, and management of commercial real estate assets. 2434 South Interstate 35E Leasing LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-16470) on June 4, 2026. In its petition, the Debtor reports estimated assets between $100 million and $500 million and estimated liabilities between $500 million and $1 billion. The Debtor is represented by Michael D. Sirota, Esq. of Cole Schotz P.C. 2762 KINGSBRIDGE: Has Deal on Cash Collateral Access ---------------------------------------------------- 2762 Kingsbridge Terrace, LLC and Toorak Capital Partners, LLC advise the U.S. Bankruptcy Court for the Southern District of New York that they have reached an agreement regarding the Debtor's continued use of the lender's cash collateral and now desire to memorialize the terms of this agreement into an agreed order. The lender holds a secured interest in the property and related collateral under a series of mortgage and loan documents, originally totaling up to approximately $2.23 million, which matured on April 1, 2024, and is now in default. The Debtor acknowledges the default and the lender's rights to enforce its remedies but seeks authorization to use cash collateral to fund ongoing operating expenses necessary to maintain the property. Under the agreement, the Debtor is permitted to use cash collateral in accordance with an approved budget capped at $45,620 through approximately the week of August 30, with limited flexibility to exceed individual budget line items by up to 10% with consent or court approval. In exchange, the lender receives adequate protection in the form of replacement liens on all post-petition assets of the debtor’s estate, maintaining the same validity and priority as its pre-petition liens, and the lender preserves the right to assert a superpriority administrative claim under 11 U.S.C. section 507(b). The stipulation includes a carve out allowing payment of certain administrative expenses, including U.S. Trustee fees and capped amounts for Debtor's professionals and a potential trustee. The agreement sets strict conditions for continued use of cash collateral, including reporting, insurance requirements, budget compliance, and lender inspection rights. It also defines termination events, such as case conversion, unauthorized modification attempts, material default under the stipulation, or budget overruns beyond 110%, which would trigger termination after notice and a cure period. Upon a termination event, the lender can halt cash collateral use. The Debtor also acknowledges the validity of the lender's liens and waives challenges to the lender's secured claims. The automatic stay is partially modified to permit enforcement of the agreement’s terms, including perfection of liens and enforcement actions upon default. A copy of the motion is available at https://urlcurt.com/u?l=OMSihB from PacerMonitor.com. About 2762 Kingsbridge Terrace LLC 2762 Kingsbridge Terrace, LLC manages residential building. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. N.Y. Case No. 26-11313-lgb) on June 1, 2026. In the petition signed by David Goldwasser, chief restructuring officer, the Debtor disclosed up to $10 million in both assets and liabilities. Judge Lisa G. Beckerman oversees the case. Avrum J. Rosen, Esq., at Rosen, Tsionis & Pizzo, PLLC, represents the Debtor as legal counsel. 415 MAGIE: Seeks to Hire Michael C. Schonberger as Counsel ---------------------------------------------------------- 415 Magie Ave, LLC seeks approval from the U.S. Bankruptcy Court for the District of New Jersey to employ the Law Offices of Michael C. Schonberger as counsel. The firm will represent the Debtor in this Chapter 11 case, including court filings, motions, hearings, creditor communications, U.S. Trustee compliance, review of claims, negotiation with secured creditors, preparation of operating reports, and plan/disclosure statement work. Michael Schonberger, Esq., will be paid at his hourly rate of $400. Mr. Schonberger disclosed in a court filing that his firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Michael C. Schonberger, Esq. Law Offices of Michael C. Schonberger 44 Bright St. Jersey City, NJ 07302 Telephone: (201) 492-1212 Email: Michael@bergeresq.com About 415 Magie Ave LLC 415 Magie Ave, LLC sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.N.J. Case No. 26-14899) on Apr. 30, 2026, listing under $1 million in both assets and liabilities. The Debtor is represented by the Law Offices of Michael C. Schonberger. 439 MARSHALL: Seeks to Tap Michael C. Schonberger as Counsel ------------------------------------------------------------ 439 Marshall Ave, LLC seeks approval from the U.S. Bankruptcy Court for the District of New Jersey to employ the Law Offices of Michael C. Schonberger as counsel. The firm will represent the Debtor in this Chapter 11 case, including court filings, motions, hearings, creditor communications, U.S. Trustee compliance, review of claims, negotiation with secured creditors, preparation of operating reports, and plan/disclosure statement work. Michael Schonberger, Esq., will be paid at his hourly rate of $400. Mr. Schonberger disclosed in a court filing that his firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Michael C. Schonberger, Esq. Law Offices of Michael C. Schonberger 44 Bright St. Jersey City, NJ 07302 Telephone: (201) 492-1212 Email: Michael@bergeresq.com About 439 Marshall Ave LLC 439 Marshall Ave, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.N.J. Case No. 26-14903) on Apr. 30, 2026, listing under $1 million in both assets and liabilities. The Debtor is represented by the Law Offices of Michael C. Schonberger. 468 FOURTH: Seeks to Hire Michael C. Schonberger as Counsel ----------------------------------------------------------- 468 Fourth Ave, LLC seeks approval from the U.S. Bankruptcy Court for the District of New Jersey to employ the Law Offices of Michael C. Schonberger as counsel. The firm will represent the Debtor in this Chapter 11 case, including court filings, motions, hearings, creditor communications, U.S. Trustee compliance, review of claims, negotiation with secured creditors, preparation of operating reports, and plan/disclosure statement work. Michael Schonberger, Esq., will be paid at his hourly rate of $400. Mr. Schonberger disclosed in a court filing that his firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Michael C. Schonberger, Esq. Law Offices of Michael C. Schonberger 44 Bright St. Jersey City, NJ 07302 Telephone: (201) 492-1212 Email: Michael@bergeresq.com About 468 Fourth Ave LLC 468 Fourth Ave LLC is a limited liability company engaged in real estate ownership and property management activities. 468 Fourth Ave LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-13950) on April 09, 2026. In its petition, the Debtor reports estimated assets between $100,001 and $1,000,000 and estimated liabilities in the same range. Honorable Bankruptcy Judge Stacey L Meisel oversees the case. The Debtor is represented by Michael C. Schonberger, Esq. of Law Office of Michael C. Schonberger LLC. 4916 LINDER: Seeks Chapter 11 Bankruptcy in Illinois ---------------------------------------------------- On June 9, 2026, 4916 Linder Ave LLC filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Northern District of Illinois. According to court filings, the Debtor reports between $100,001 and $1,000,000 in debt owed to approximately 1–49 creditors. About 4916 Linder Ave LLC 4916 Linder Ave LLC is a real estate holding company engaged in the ownership, management, and operation of property assets. The company is involved in real estate investment and related activities. 4916 Linder Ave LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-09744) on June 9, 2026. In its petition, the Debtor reported estimated assets of $100,001–$1,000,000 and estimated liabilities of $100,001–$1,000,000. The Debtor is represented by David P. Lloyd, Esq. of David P. Lloyd, Ltd. 501 JERSEY: Seeks to Tap Silverman Law as General Counsel --------------------------------------------------------- 501 Jersey Avenue LLC seeks approval from the U.S. Bankruptcy Court for the Eastern District of New York to employ Silverman Law PLLC as counsel. The firm's services include: (a) advise Debtor of its rights, powers, and duties in continuing to operate and manage its assets and business; (b) prepare on the Debtor's behalf all necessary and appropriate legal papers; (c) advise the Debtor concerning, and prepare responses to, legal documents which may be filed in its Chapter 11 case; (d) advise the Debtor concerning the actions it might take to collect and recover property for the benefit of its estate; (e) negotiate with creditors in connection with claims and Chapter 11 plan; (f) review and object to claims; and (g) perform all other legal services for and on behalf of the Debtor. The firm's hourly rates are as follows: Brett S. Silverman, Esq. $550 Paraprofessionals $90 The firm received a retainer of $20,000 from the Debtor. Brett Silverman, Esq., an attorney at Silverman Law, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Brett S. Silverman, Esq. Silverman Law PLLC 4 Terry Terrace Livingston, NJ 07039 Telephone: (646) 281-6008 Email: brett@getconciergelaw.com About 501 Jersey Avenue LLC 501 Jersey Avenue LLC is a limited liability company engaged in property-related holdings and operations. 501 Jersey Avenue LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.Y. Case No. 26-41683) on April 08, 2026. In its petition, the Debtor reports estimated assets between $50 million and $100 million and estimated liabilities in the same range. Honorable Bankruptcy Judge Jil Mazer-Marino handles the case. The Debtor is represented by Brett Silverman, Esq., of Silverman Law PLLC. 527 HOLDINGS: Case Summary & Nine Unsecured Creditors ----------------------------------------------------- Debtor: 527 Holdings Group LLC d/b/a Subway 1209 Airport Road Suite 11 Destin, FL 32541 Business Description: 527 Holdings Group LLC is a Destin, Florida- based limited liability company, formed in 2018, that owns and operates a Subway restaurant at 34940 Emerald Coast Parkway #188 in Destin, where the quick-service restaurant offers made-to-order sandwiches, wraps and salads, along with sides and other menu items. Chapter 11 Petition Date: June 8, 2026 Court: United States Bankruptcy Court Northern District of Florida Case No.: 26-30608 Debtor's Counsel: Shiraz A. Hosein, Esq. SHIRAZ A. HOSEIN, P.A. 909 Mar Walt Drive Suite 1014 Fort Walton Beach, FL 32547 Tel: 8508634064 Fax: 8506645728 E-mail: sahosein@asglegal.com Estimated Assets: $0 to $50,000 Estimated Liabilities: $1 million to $10 million The petition was signed by Joshua Gregory as Managing Member. A full-text copy of the petition, which includes a list of the Debtor's nine unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/WYU7DXY/527_Holdings_Group_LLC__flnbke-26-30608__0001.0.pdf?mcid=tGE4TAMA 581 105TH AVENUE: Case Summary & Four Unsecured Creditors --------------------------------------------------------- Debtor: 581 105th Avenue North, LLC 581 105th Avenue North, Bay 37 Royal Palm Beach, FL 33411 Chapter 11 Petition Date: June 10, 2026 Court: United States Bankruptcy Court Southern District of Florida Case No.: 26-17583 Judge: Hon. Erik P Kimball Debtor's Counsel: Jordan L. Rappaport, Esq. RAPPAPORT OSBORNE & RAPPAPORT, PLLC 1300 N Federal Hwy., Suite 203 Boca Raton, FL 33432 Tel: 561-368-2200 Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Wayne Jenkins as manager. A full-text copy of the petition, which includes a list of the Debtor's four unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/BWTM3GI/581_105th_Avenue_North_LLC__flsbke-26-17583__0001.0.pdf?mcid=tGE4TAMA 581 105TH: Commences Chapter 11 Bankruptcy in Florida ----------------------------------------------------- On June 10, 2026, 581 105th Avenue North, LLC filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Southern District of Florida. According to court filings, the Debtor reports between $1 million and $10 million in debt owed to approximately 1–49 creditors. Creditors have until August 19, 2026, to submit proofs of claim. About 581 105th Avenue North, LLC 581 105th Avenue North, LLC is a real estate holding company engaged in the ownership, management, and operation of property assets and related investments. 581 105th Avenue North, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-17583) on June 10, 2026. In its petition, the Debtor reported estimated assets of $1 million–$10 million and estimated liabilities of $1 million–$10 million. Honorable Bankruptcy Judge Erik P. Kimball handles the case. The Debtor is represented by Jordan L. Rappaport, Esq. 583 EVERGREEN: Seeks Chapter 7 Bankruptcy in New York ----------------------------------------------------- On June 10, 2026, 583 Evergreen Group 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 $1,000,000 in debt owed to approximately 1–49 creditors. About 583 Evergreen Group LLC 583 Evergreen Group LLC is a real estate holding company engaged in the ownership, management, and operation of property-related investments and assets. 583 Evergreen Group LLC sought relief under Chapter 7 of the U.S. Bankruptcy Code (Bankr. Case No. 26-42845) on June 10, 2026. In its petition, the Debtor reported estimated assets of $100,001–$1,000,000 and estimated liabilities of $100,001–$1,000,000. Honorable Bankruptcy Judge Elizabeth S. Stong handles the case. 5830 FLORIDA: Starts Chapter 11 Bankruptcy in Louisiana ------------------------------------------------------- On June 10, 2026, 5830 Florida Ave New Orleans LA 70117 LLC filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Eastern District of Louisiana. According to court filings, the Debtor reports between $0 and $100,000 in debt owed to approximately 1–49 creditors. A meeting of creditors filed by the Office of the U.S. Trustee under Section 341(a) to be held on July 14, 2026 at 10:00 AM by Telephone Conference Line: 888-330-1716. Participant Passcode: 8461305. Deadline for filing Chapter 11 Plan set for September 8, 2026 About 5830 Florida Ave New Orleans LA 70117 LLC 5830 Florida Ave New Orleans LA 70117 LLC is a Louisiana-based real estate holding company involved in property ownership, investment, and asset management activities. 5830 Florida Ave New Orleans LA 70117 LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-11425) on June 10, 2026. In its petition, the Debtor reported estimated assets of $100,001–$1,000,000 and estimated liabilities of $0–$100,000. The Debtor is represented by Raphael Bickham, Esq. of Bickham Law Practice LLC. 830 COUNTY ROAD: Seeks Chapter 11 Bankruptcy in New Jersey ---------------------------------------------------------- On June 4, 2026, 830 County Road 64 Real Estate LLC filed for Chapter 11 protection in the U.S. Bankruptcy Court for the District of New Jersey. According to court filings, the Debtor reports between $500 million and $1 billion in debt owed to between 50,001 and 100,000 creditors. The Debtors' exclusivity period for filing a Chapter 11 plan ends on October 2, 2026. About 830 County Road 64 Real Estate LLC 830 County Road 64 Real Estate LLC is a real estate holding company engaged in the ownership, leasing, development, and management of commercial and investment properties. 830 County Road 64 Real Estate LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-16527) on June 4, 2026. In its petition, the Debtor reports estimated assets between $100 million and $500 million and estimated liabilities between $500 million and $1 billion. Honorable Bankruptcy Judge Christine M. Gravelle handles the case. The Debtor is represented by Michael D. Sirota, Esq. of Cole Schotz P.C. A BEAUTIFUL LIVING: Case Summary & 20 Largest Unsecured Creditors ----------------------------------------------------------------- Debtor: A Beautiful Living Adult Family Home, LLC d/b/a A Beautiful Living II d/b/a A Beautiful Living IV 4201 164th St SW, Suites A-B Lynnwood, WA 98087 Business Description: A Beautiful Living Adult Family Home is a Lynnwood, Washington-based senior residential care provider that operates adult family homes offering assisted living, dementia and mental-health care, medication management, daily-living assistance and related services for elderly residents. Chapter 11 Petition Date: June 9, 2026 Court: United States Bankruptcy Court Western District Of Washington Case No.: 26-11896 Judge: s to evaluate possible disqualification or Debtor's Counsel: Steven M. Palmer, Esq. CAIRNCROSS & HEMPELMANN, P.S. 524 Second Avenue, Suite 500 Seattle, WA 98104 Tel: 206-587-0700 Fax: 206-587-2308 E-mail: spalmer@cairncross.com Estimated Assets: $0 to $50,000 Estimated Liabilities: $1 million to $10 million The petition was signed by Virginia C. Yanos as owner. A full-text copy of the petition, which includes a list of the Debtor's 20 largest unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/B7GVHEQ/A_Beautiful_Living_Adult_Family__wawbke-26-11896__0001.0.pdf?mcid=tGE4TAMA ACCESS & SERVICE: Case Summary & 20 Largest Unsecured Creditors --------------------------------------------------------------- Debtor: Access & Service - Industrial, LLC 220 E Archer Rd Baytown, TX 77521-9473 Business Description: Access & Service - Industrial, LLC, is a Baytown, Texas-based industrial services company that provides scaffolding, insulation, coatings, abatement, fireproofing and related soft-craft services for industrial projects, including access-system design, engineering, erection and dismantling. Chapter 11 Petition Date: June 8, 2026 Court: United States Bankruptcy Court Southern District of Texas Case No.: 26-80408 Judge: Hon. Alfredo R Perez Debtor's Counsel: Bennett G. Fisher, Esq. LEWIS BRISBOIS BISGAARD & SMITH LLP 24 Greenway Plaza 1400 Houston TX 77046 Email: bennett.fisher@lewisbrisbois.com Total Assets: $654,403 Total Liabilities: $1,525,394 The petition was signed by Joel Rivera 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/G5SRAWY/Access__Service_-_Industrial__txsbke-26-80408__0001.0.pdf?mcid=tGE4TAMA ACHIM OPERATINGCO: Commences Chapter 11 Bankruptcy in New Jersey ---------------------------------------------------------------- On June 4, 2026, Achim Operatingco LLC filed for Chapter 11 protection in the U.S. Bankruptcy Court for the District of New Jersey. According to court filings, the Debtor reports between $500 million and $1 billion in debt owed to between 50,001 and 100,000 creditors. The Debtors' Exclusive Right to Submit a Chapter 11 Plan Ends on October 2, 2026. About Achim Operatingco LLC Achim Operatingco LLC is a large-scale operating company engaged in corporate operations and asset management activities tied to substantial business holdings. Achim Operatingco LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-16393) on June 4, 2026. In its petition, the Debtor reports estimated assets between $100 million and $500 million and estimated liabilities between $500 million and $1 billion. Honorable Bankruptcy Judge Christine M. Gravelle handles the case. The Debtor is represented by Michael D. Sirota, Esq., of Cole Schotz P.C. ADI GLOBAL: S&P Assigns 'BB-' Issuer Credit Rating, Outlook Stable ------------------------------------------------------------------ S&P Global Ratings assigned its 'BB-' issuer credit rating to ADI Global Distribution Inc. and its 'BB' issue-level rating to the term loan. The stable outlook reflects S&P's expectation that ADI will complete its transition into a separate company while maintaining its operating momentum, with increasing EBITDA and cash flow, bringing leverage to under 4x within the next year. ADI will be spun out of Resideo Technologies Inc. into an independent, publicly traded company this year. ADI plans to issue a five-year $500 million revolver (not rated), a seven-year $500 million term loan, and senior unsecured notes. Proceeds from the term loan and unsecured notes will be used to fund a $900 million dividend payment to Resideo. The ADI separation should proceed smoothly given the continuation of the management team. S&P said, "We think the company's operating plan has led to good performance and broadening market share. ADI's distribution operations have limited overlap with Resideo's Products and Solutions business, which should also help mitigate separation risks. We believe the separation should allow ADI to focus on its distinctive market opportunities, given that it was part of a parent company that operates in two different segments: manufacturing and distribution." Soft residential markets could present challenges even though the industry is growing. The addressable market in North America is about $65 billion, of which $35 billion is serviceable, therefore creating strong opportunities for organic growth. S&P said, "We think shifting industry dynamics will continue providing solid industry tailwinds. More rapid technological advancement and consistent safety regulations have led to evolving customer expectations and consistent demand for newer state-of-the-art products. As security and technology remain top priorities for consumers, we think the increasing convergence of audio-visual, security, and data communications systems create opportunities for ADI to leverage its broad product assortment that includes newly developed products, and offer integrated solutions. However, we think macroeconomic uncertainty will modestly weigh on the company's performance over the next 12 months." ADI operates in highly competitive and fragmented industry with many regional and a few large well-capitalized players. The company and its S&P Global Ratings-rated peers have diverse products segments and end markets. Peers include: W.W. Grainger, Inc. (A+/Stable/--), with about $18 billion revenues; WESCO International Inc. (BB/Stable/--), with $23.5 billion; and QXO Inc. (BB-/Stable/--), with about $7 billion. Competitive drivers include product assortment and availability, price, and speed of delivery. ADI believes it is the industry leader in the security and fire and life safety distribution business, as well as the residential audio and visual distribution segments. It also has solid and growing market presence in the professional audio-visual and data communications distribution segments. S&P thinks its market position provides good brand name recognition that, together with its service quality and diverse product assortment and availability, provides the company with a competitive edge that should deepen market penetration. Supply chain has been a strength, though vendor concentration risk is high. ADI has relationships with more than 1,000 third-party and exclusive brand global suppliers, providing the company with ample product diversity and price points to meet evolving customer needs. Still, the 10 largest suppliers account for about 50% of revenues, with the largest accounting for more than 10% of revenues. S&P said, "We expect ADI will maintain a solid, mutually beneficial relationship with Resideo post-spin off, at the very least through the transition period, as Resideo generates about 5% of revenues from the company. We view product stratification as it relates to low-voltage security and data communications offerings as business strength. However, we think ADI's product scope is limited when compared with that of larger peers that benefit from greater business diversity as well as scale." ADI has modest geographic concentration while its omnichannel capabilities are far reaching. About 75% of the company's physical stores are located in the U.S., with additional locations in Canada, the U.K., and other European countries. The company generates about 88% of revenue in North America, making it susceptible to trade war and product sourcing issues. S&P said, "We view its omnichannel strategy as a strength, with a unified inventory assortment across e-commerce, mobile app, and more than 200 global stocking locations. This combination of shopping capabilities is a positive factor among its evolving customer base that we think is shifting toward those with a broadening e-commerce and technological mindset. Its digital platform generates about 30% of revenues." Its financial policy is credit-supportive; however, cash flow is thin for the ratings. Following a large cash outflow in 2025 to fund ADI's portion of the termination of the Honeywell indemnification agreement, its cash flow was largely negative. Honeywell was the previous owner of Resideo and we view the termination as a critical step to accommodate ADI's separation from Resideo. As a stand-alone entity, S&P forecasts operating cash flow between $100 million and $125 million, which is at the weaker end of the range for a 'BB-' rated company. Partially mitigating thin cash flow is the company's leverage metrics, which we anticipate will improve on profit growth and debt pay down. S&P said, "We believe the company's leverage improvement goals will provide financial flexibility for opportunistic acquisitions that resonate with its business strategy and are accretive to earnings. Therefore, we may view any improvement in leverage toward the stronger end of our ratings as temporary. We think the last sizable purchase of Snap One provided the opportunity to broaden its private label offerings, which augmented its scale and margins. "The stable outlook reflects our expectation that ADI will complete its transition into a separate, publicly traded company while maintaining operating growth momentum with increasing cash flow. "We could lower the rating if performance weakens, causing debt to EBITDA to remain over 4x and free operating cash flow to debt under 10%. This could occur from separation challenges, intensifying competitive pressures, or difficulties executing its go-to-market strategies. We could also lower the ratings if the company increases leverage without offsetting operational benefits, likely owing to acquisitions. "We could raise the ratings if ADI expands and diversifies its business, which could likely result in EBITDA margins and cash flow aligning more with those of higher-rated peers, while leverage comes under 3x and free operating cash flow to debt is comfortably above 15%. In this situation, we believe the company could meaningfully broaden its scale and operations with greater end-market diversity and further expand its market penetration through organic growth and prudently funded acquisitions." AFC ACQUISITION: Gets Interim OK to Use Cash Collateral ------------------------------------------------------- The U.S. Bankruptcy Court for the District of New Mexico approved AFC Acquisition Corporation's use of cash collateral through June 30. The order authorized the Debtor to use cash collateral in accordance with an approved budget and to pay quarterly U.S. Trustee fees, including an approximately $9,473 first-quarter 2026 fee. The Debtor's primary cash collateral creditors are the U.S. Small Business Administration, which is owed about $1.91 million under an Economic Injury Disaster Loan, and BOKF, N.A., doing businesd as Bank of Albuquerque, which is owed about $120,000 and holds security interests in the Debtor's bank accounts. As adequate protection, the Debtor must make monthly payments of $9,580 to the SBA and continue monthly mortgage-related payments of $1,515.79 benefiting BOKF. Both creditors also received replacement liens on post-petition collateral of the same type securing their prepetition claims, with those liens deemed valid, perfected, and effective as of the petition date. The order required the Debtor to file monthly operating reports, maintain detailed financial records, preserve collateral, and remain current on all post-petition taxes. The Debtor's authority to use cash collateral will terminate on June 30 or earlier upon case conversion, dismissal, trustee appointment, or an uncured default under the order's adequate protection requirements. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/ZiYGS from PacerMonitor.com. About AFC Acquisition Corporation, a Delaware Corporation AFC Acquisition Corporation, a Delaware Corporation sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. N.M. Case No. 26-10283) with $1 million to $10 million in both assets and laibilities. The petition was signed by Kenton Van Harten as CEO. Judge Hon. Robert H Jacobvitz oversees the case. The Debtor is represented by: Christopher M Gatton Gatton & Associates, P.C. Tel: 505-271-1053 Email: chris@gattonlaw.com AHT TRANSPORT: Gets Interim OK to Use Cash Collateral ----------------------------------------------------- AHT Transport, LLC received interim approval from the U.S. Bankruptcy Court for the District of Kansas to use the cash collateral of its secured creditors. Under the interim order, the Debtor is authorized to use cash collateral to pay operating expenses tin accordance with its budget up to amounts not to exceed 125% of each line item. The Debtor's cash collateral consists primarily of approximately $65,409 in accounts receivable and its bank account balances although its bank account was reportedly overdrawn as of the petition date. The cash collateral belongs to the U.S. Small Business Administration and potentially Velocity Capital Group, LLC. The Debtor believes the SBA holds a first-priority lien on these assets through a 2021 UCC filing securing approximately $1.1 million in debt while Velocity claims an interest through a later UCC filing securing approximately $251,000. However, the Debtor contends that Velocity's claim is entirely unsecured. Both the SBA and Velocity will be granted post-petition replacement liens on the Debtor's assets similar to their pre-petition collateral, with the same validity, extent and priority as their pre-petition liens. As additional protection, the SBA will receive an allowed superpriority administrative expense claims. Except for the carveout, the superpriority claims will have priority over all administrative expenses and unsecured claims against the Debtors and their bankruptcy estates. The SBA will also receive monthly payments of $1,000, not later than June 30, and continuing monthly thereafter until confirmation of a Chapter 11 plan, dismissal or conversion of the Debtor's Chapter 11 case, or entry of a subsequent court order. Events of default that could terminate the Debtor's authority to use cash collateral include relief from automatic stay, case conversion or dismissal, unauthorized sale of the Debtor's assets, or failure to comply with the order. If a default occurs and is not cured within five business days after notice, the Debtor's authority to use cash collateral terminates. The final hearing is scheduled for June 24. The interim order is available at https://urlcurt.com/u?l=6aMXV0 from PacerMonitor.com. About AHT Transport LLC AHT Transport, LLC is a Galva, Kansas-based for-hire interstate freight carrier that operates trucks and trailers transporting general freight, machinery, grain, dry bulk commodities and motor vehicles. AHT Transport sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Kan. Case No. 26-10613) on June 2, 2026. In the petition signed by Stephanie Unruh, managing member, the Debtor disclosed up to $10 million in both assets and liabilities. Judge Mitchell L. Herren oversees the case. January M. Bailey, Esq., at Prelle Eron & Bailey, P.A., represents the Debtor as legal counsel. ALABAMA AUTO: Unsecureds to Get 40% Dividend over 60 Months ----------------------------------------------------------- Alabama Auto Top Specialists, Inc. filed with the U.S. Bankruptcy Court for the Northern District of Alabama a Disclosure Statement describing Plan of Reorganization dated June 2, 2026. The Debtor is a family-owned Alabama incorporated company engaged in the installation, sales and repair of convertible tops, sunroofs, and upholstery, and provides services including custom work for various makes and models. David West, Sr., is the sole stockholder and owner. The Debtor provides both retail sales and services and fleet-owned sales and services. The Debtor's home office and business operation is located in Birmingham, Alabama. Industry challenges occasioned by COVID-era constraints and supply chain issues brought on as a matter of necessity operational changes and reductions in employee force, leading to a business downturn over the two or more quarters prior to commencement of the Chapter 11 case. The Debtor's owner and principal, David West, Sr., continues to believe the downturn is certainly reversible and that business conditions are improving and will continue to improve. The Debtor continues to operate post-petition and has experienced improved sales and revenues since commencement of the case. In the ordinary court of business, the Debtor issues payroll on a biweekly basis and remits corresponding payroll tax reports and tax payments. There were unsecured non-priority claims listed as undisputed or uncontested for which no claims were filed or not listed or listed as disputed for which claims were filed by the Bar Date in the total approximate amount of $115,530.00. Additionally, there were unsecured claims listed as undisputed for which claims have been filed by the Bar Date in the total approximate amount of $290,730.12. The total of listed, undisputed, unsecured non-priority claims for which no claims have been filed, and filed claims, either listed or not listed, both disputed and undisputed is approximately $399,230.12. Class 3 consists of Allowed Unsecured Claims. The holders of Class 3 Allowed Claims shall receive, on the Effective Date of the Plan, a promissory note from the Debtor in an amount representing a forty percent pro-rata payment to holders of Class 3 Allowed Claims over a period of no more than five years ("Class 3 Note"). Class 3 is, therefore, impaired under the Plan. The Class 3 Note shall otherwise provide for payment of Class 3 Allowed Claims in accordance with the terms and conditions of said Note, which terms shall generally provide for equal monthly payments for no less than 60 months (5 years) at three percent interest beginning on the issuance date, which at this time is contemplated and shall be inscribed in the Class 3 Note to be no later than 45 days from the Effective Date. The Class 3 Note shall be given in full settlement and compromise of any claim by the holder of such Class 3 Claim against the Debtor. Class 3 is, therefore, impaired under the Plan. Class 3 shall include any secured lender deficiency claims. The Debtor reserves the right to pay any Class 3 Claimant holding a claim less than $1,000.00 its pro-rata payment in a lump sum interest free payment by no later than 60 days following the Class 3 Note issuance date. Class 5 consists of Allowed Interest of David West, Sr. David West, Sr., shall continue to own his 100% equity stake in the Debtor but, except for reimbursement of occasional expense covered by David West moving forward, shall receive no distributions or salary whatsoever for the period of time necessary to achieve full consummation of Debtor’s Plan. The distributions from the liquidation proceeds would be calculated pro-rata according to the amount of the claim held by each creditor. The Debtor believes that the most likely outcome of liquidation proceedings under Chapter 7 would be the application of the rule of absolute priority of distribution. n contrast, general unsecured creditors will be paid a forty percent dividend over no more than 5 years (60 months) under the Debtor's Chapter 11 Plan. A full-text copy of the Disclosure Statement dated June 2, 2026 is available at https://urlcurt.com/u?l=KA3rWp from PacerMonitor.com at no charge. Counsel to the Debtor: Frederick M. Garfield, Esq. Spain & Gillon, LLC 505 20th Street North, Suite 1200 Birmingham, AL 35203 Telephone: (205) 328-4100 Facsimile: (205) 324-8866 Email: sleara@spain-gillon.com About Alabama Auto Top Specialists, Inc. Alabama Auto Top Specialist, Inc., is an Alabama-based automotive service company specializing in vehicle roof systems, upholstery, and related auto restoration services. Alabama Auto Top Specialist, Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-00436) on February 5, 2026. In its petition, the Debtor reports estimated assets between $0 and $100,000 and estimated liabilities between $100,001 and $1,000,000. Honorable Bankruptcy Judge Tamara O. Mitchell handles the case. The Debtor is represented by Frederick Mott Garfield, Esq., of Spain & Gillon, LLC. ALACHUA GOVERNMENT: DOD's $147MM Bankruptcy Claim Reduced to $5MM ----------------------------------------------------------------- Clara Geoghegan of Law360 Bankruptcy Authority reports that Alachua Government Services has asked a Delaware bankruptcy court to slash a Department of Defense claim from approximately $147 million to $5 million, arguing that federal officials relied on inapplicable procurement regulations when calculating damages. The biotech contractor told the court that the government's claim is based on an incorrect interpretation of contract rules and improperly incorporates penalties and adjustments that should not be applied to the company's agreements. As a result, Alachua contends the claim is overstated by roughly $142 million. The objection sets up a high-stakes dispute over the size of one of the largest claims in the Chapter 11 case. A ruling in favor of the debtor could significantly increase the value available to other creditors and support the company's restructuring efforts, the report relays. About Alachua Government Services Inc. Alachua Government Services, Inc. is a pharmaceutical and medicine manufacturing company formerly known as Ology Bioservices. Based in Alachua, Florida, Alachua operates in the pharmaceutical manufacturing sector. Alachua sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 25-11289) on July 6, 2025. In its petition, the Debtor reports estimated assets between $50 million and $100 million and estimated liabilities between $100 million and $500 million. Judge J. Kate Stickles oversees the case. Richards, Layton & Finger, P.A. is Debtor's legal counsel. ALL BUSINESS: Ronald Friedman Named Subchapter V Trustee -------------------------------------------------------- The U.S. Trustee for Region 2 appointed Ronald Friedman, Esq., at Rimon, PC as Subchapter V trustee for All Business Consultants Inc. Mr. Friedman will be paid an hourly fee of $850 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Friedman declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Ronald J. Friedman, Esq. Rimon PC 100 Jericho Quadrangle, Ste. 300 Jericho, NY 11753 Email: ronald.friedman@rimonlaw.com About All Business Consultants Inc. All Business Consultants Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. N.Y. Case No. 26-42664) on June 1, 2026, with $500,001 to $1 million in both assets and liabilities. Judge Elizabeth S. Stong presides over the case. ALLEGIANT TRAVEL: Fitch Affirms BB- LongTerm IDR, Outlook Negative ------------------------------------------------------------------ Fitch Ratings has assigned a 'BB+' rating with a Recovery Rating of 'RR2' to Allegiant Travel Company's proposed senior secured notes. Fitch has also affirmed Allegiant's Long-Term Issuer Default Rating (IDR) at 'BB-' and its existing senior secured notes and revolver at 'BB+'/'RR2'. The Rating Outlook is Negative. The Outlook reflects near-term cost pressures from sharply higher jet fuel prices and additional anticipated borrowing that will drive higher near-term leverage. The Outlook also incorporates execution risks and costs tied to Allegiant's recently completed acquisition of Sun Country. Fitch expects Allegiant to end the year with gross adjusted leverage near 6x before returning to within rating sensitivities in 2027 as profitability improves. Offsetting factors include potential credit improvements from the Sun Country acquisition. Fitch expects the deal to strengthen Allegiant's credit profile over time through its limited debt balance, solid profitability, and positive FCF. Allegiant's credit profile also continues to benefit from its unique operating model and lack of direct overlap with competing airlines. Key Rating Drivers Proposed Debt Issuance: Allegiant plans to issue $500 million in senior secured notes to refinance its August 2027 maturity. Proceeds will be used to repay roughly $403 million outstanding on the 2027 bonds, with the remainder going to cash on hand and transaction expenses. The new notes will be secured by the same collateral package as Allegiant's existing debt, which largely consists of its loyalty program, brand IP, and fleet equity. Fitch views the loyalty and brand assets as essential to the airline, though their value depends heavily on Allegiant's ability to operate as a going concern. Elevated Draws on Cash: Cash needs remain elevated in 2026 and 2027, reflecting aircraft capex, the recently completed Sun Country acquisition, and the pending pilot retention bonus payout. The cash portion of Allegiant's purchase of Sun Country totaled roughly $225 million and was paid out subsequent to the end of 1Q26. Allegiant's accrued pilot retention bonus totaled $256 million as of 1Q26 and may be paid out in 2026. Allegiant has been accruing a retention bonus since 2023 to address pilot pay and retention issues while union contract negotiations are ongoing. Fitch expects aircraft capex to peak in 2026 and 2027 as the company takes delivery of the bulk of its 737 MAXs. Fitch expects Allegiant to use proceeds from the proposed refinancing and upsizing of its 2027 secured notes along with financings backed by new and previously unencumbered aircraft to address pending cash needs. The proposed refinancing will push out Allegiant's largest near-term maturity, leaving manageable remaining debt principal payments of roughly $100 million-$200 million annually through Fitch's forecast period. Leverage Temporarily High: Fitch anticipates gross leverage will exceed Allegiant's negative rating sensitivity of 4.5x in 2026 as the company raises debt to meet near-term cash requirements and fuel prices weigh on profitability. Fitch expects leverage to improve in 2027 on normalizing jet fuel costs and planned merger synergies. Fitch may downgrade the rating if leverage remains elevated beyond 2026 either due to softer demand, persistently high fuel prices, or merger integration problems. Prior to the Iran conflict, Allegiant's leverage had dropped to 3.6x, which was within its negative sensitivities, driven by margin expansion and debt repayment. Sun Country Acquisition: Allegiant recently completed the acquisition of Sun Country in a transaction valued at roughly $1.5 billion that included $400 million in Sun Country net debt. Fitch views the additional scale, cost synergies, and revenue diversification as the primary benefits for the transaction. The combination will likely attract more loyalty program revenue, while Sun Country's charter and cargo business provide some balance to Allegiant's scheduled passenger service businesses. Allegiant also gains access to Sun Country's international footprint through the deal. Sun Country's limited capex and positive FCF help balance upcoming draws on cash for Allegiant. Planned Synergies: Allegiant estimates the transaction will generate $140 million in net synergies by year three of the transaction. More than 70% of planned synergies come from revenue opportunities, including network and scheduling optimization and improved co-brand and loyalty economics. Examples of network synergies include better ability to utilize aircraft across networks including flowing aircraft out of airports at times when gates are underutilized. Margin Improvement Absent Fuel Spike: Fitch believes Allegiant's standalone margins will likely expand in 2026 absent the rise in jet fuel costs and should be positioned to rebound assuming fuel prices normalize. Margin expectations are supported by improved aircraft utilization actioned in 2025, a more manageable domestic capacity environment, and initiatives such as expanding Allegiant Extra seating. 737 MAX deliveries will further enhance efficiencies, with Allegiant estimating the MAX will account for about 20% of ASMs in 2026. Supportive Demand Dynamics: Air travel demand remains strong despite higher fares and broader consumer pressure from rising crude oil prices. Industry commentary indicates solid bookings through the summer, with some airlines expecting double-digit unit revenue growth in the second quarter. Allegiant said 2Q26 unit revenue should surpass the 16.4% increase reported in 1Q26, helping offset higher fuel costs. Airlines are also seeing stronger domestic leisure demand, reversing softer trends seen in 2025. Still, risks remain, as demand destruction becomes increasingly likely as high oil prices persist. Peer Analysis Fitch compares Allegiant to other low-cost carriers such as JetBlue Airways Corporation (JetBlue; CCC+), which also focus heavily on domestic leisure travel. Allegiant's sole focus on leisure in underserved niche markets somewhat insulates the company from pricing pressures that JetBlue and Spirit encountered in large but oversupplied domestic destinations. Although Spirit was a larger low-cost provider, the airline struggled with structurally lower profitability, engine availability issues, and an unsustainable capital structure. Allegiant is smaller than JetBlue by revenue and capacity; however, it benefits from a broader airport network focused on serving small- to medium-sized cities. JetBlue's and Allegiant's ratings are both pressured by large capex spend for aircraft deliveries, which will drive negative FCF. However, JetBlue suffers from weak profitability that drives its leverage materially higher than Allegiant. Relative to larger carriers, Allegiant's credit profile is weaker than United Airlines, Inc. (BB+/Stable), as United benefits from stronger credit metrics, an entrenched market position, and greater financial flexibility. These weaknesses are balanced Allegiant's more isolated route network. Fitch’s Key Rating-Case Assumptions - Load factors remain in the low- to mid-80% range through the forecast period. - Capacity growth is expected to be modestly down in 2026 and to rise in the mid-single digits thereafter. - Revenue per available seat mile increases by around 10% in 2026, reflecting fare increases, the maturation of Allegiant's growth from 2025 and a more supportive domestic operating environment. - Cost per available seat mile increases in the low- to mid-single digits in 2026 and low-single digits thereafter. - Fuel costs at around $3.35 per gallon in 2026 and $2.75 in 2027 and $2.55 thereafter. Fuel prices were roughly $2.40/gallon prior to the Iran conflict. - Capital spending is in line with company projections. 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 ('bbb-', Lower), sector characteristics ('bb-', Moderate), market and competitive positioning ('bb+', Moderate), diversification and asset quality ('bb', Moderate), company operational characteristics ('bb+', Moderate), profitability ('bb-', Higher), financial structure ('b', Moderate), and financial flexibility ('bb+', Higher). The quantitative financial subfactors are based on custom CRT financial period parameters: 20% weight for the historical year 2025, 20% for the forecast year 2026, 40% for the forecast year 2027 and 20% for the forecast year 2028. The governance assessment of 'good' has no impact. The operating environment assessment of 'aa-' has no impact. The SCP is 'bb-'. To derive the Long-Term IDR: Fitch made no adjustments to the SCP, resulting in an IDR of 'BB-'. RATING SENSITIVITIES Factors that Could, Individually or Collectively, Lead to Negative Rating Action/Downgrade - EBITDAR leverage sustained above 4.5x and/or EBITDAR fixed charge coverage below 2.5x; - Declining financial flexibility demonstrated by reliance on revolver draws, deteriorating cash flow from operations (CFO) generation, or a depleting cash balance; - EBITDAR margins sustained in the mid- to high-teens. - Acquisition integration challenges potentially manifesting as operational issues or IT challenges that hamper margin generation or drive increased borrowing. Factors that Could, Individually or Collectively, Lead to Positive Rating Action/Upgrade - EBITDAR leverage sustained below 3.5x and EBITDAR fixed-charge toward 3.5x; - Increased financial flexibility demonstrated by sustained high liquidity level and/or increased unencumbered assets; - Demonstrated execution on the growth strategy including maintaining a pipeline of pilots and operating new MAXs. Factors that Could, Individually or Collectively, Lead to an Outlook Revision To Stable - Demonstrated ability to improve EBITDAR margin and/or manage aircraft delivery related debt loads, increasing the likelihood that EBITDAR leverage will be sustained below 4.5x after 2026; - EBITDAR fixed charge coverage approaching 3x; - Progress toward successful acquisition integration. Liquidity and Debt Structure Allegiant ended 1Q26 with $283.4 million of cash and cash equivalents and $618.7 million of short-term investments, or $902.2 million in total. The company also had $250.0 million of undrawn capacity under RCFs and $25.1 million of undrawn borrowing capacity under aircraft financing facilities as of March 31, 2026. Allegiant's capital structure largely consists of its 2027 senior secured notes, aircraft related, and outstanding borrowings on various revolving credit facilities. The company's senior debt ratings are limited to 'RR2' by Fitch's expectations for elevated leverage and the nature of the collateral under the notes which largely consists of Allegiant's loyalty plan. Issuer Profile Allegiant operates Allegiant Air, a U.S. ultra-low-cost carrier focused on point-to-point leisure travel connecting underserved small and mid-sized cities to leisure destinations. In 2026, Allegiant acquired Sun Country Airlines, adding a complementary leisure-focused carrier with charter and cargo operations. 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 Climate.VS for 2035 for Allegiant Travel Company is 50 suggesting elevated exposure to climate-related risks in that year. This is in line with other airlines and reflects the gradually growing costs linked to the decarbonization of the sector, and potential for lower demand over time. Currently, climate transition risks do not have a material influence on airline ratings, as the potentially disruptive changes due to energy transition are unlikely to materialize in the next eight to 10 years. However, risks to the industry will increase over the longer term as the focus on climate change continues to grow, particularly if the industry does not show sufficient progress toward its carbon-reduction goals. Allegiant aims to reduce tank-to-wake GHG emissions by 10% per revenue ton kilometer by the end of 2030, using 2023 as the base year. The airline will be receiving new deliveries of 50 Boeing 737 MAX aircraft, which consume 20% less fuel than the current fleet, which consists of used Airbus aircraft. A non-stop, efficient flight route strategy reduces the length of routes compared with a hub-and-spoke model, and also helps reduce fuel consumption per customer mile. Allegiant currently does not use sustainable aviation fuel but is exploring this option. For further information on how Fitch perceives climate-related risks in the airlines sector see its Transportation - Long-Term Climate Vulnerability Signals Update report. 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 ----------- ------ -------- ----- Allegiant Travel Company LT IDR BB- Affirmed BB- senior secured LT BB+ New Rating RR2 senior secured LT BB+ Affirmed RR2 BB+ ALVAREZ REALTY: Voluntary Chapter 11 Case Summary ------------------------------------------------- Debtor: Alvarez Realty, LLC 312 Boston Post Rd. Orange, CT 06477 Chapter 11 Petition Date: June 9, 2026 Court: United States Bankruptcy Court District of Connecticut Case No.: 26-30531 Judge: Hon. Ann M Nevins Debtor's Counsel: Russell G. Small, Esq. THE LAW OFFICE OF RUSSELL GARY SMALL, PC 2625 Park Ave., Suite 406 Bridgeport, CT 06604 Tel: (203) 396-0096 Fax: (203) 396-0050 E-mail: russell@rgsmall.com Total Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Lenny Alvarez as president. The Debtor has confirmed in the petition that it has no unsecured creditors. A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/WTJHTUA/Alvarez_Realty_LLC__ctbke-26-30531__0001.0.pdf?mcid=tGE4TAMA AM PYROTECHNICS: Unsecureds Will Get 92.8% via Quarterly Payments ----------------------------------------------------------------- AM Pyrotechnics, LLC filed with the U.S. Bankruptcy Court for the Western District of Missouri a Small Business Plan of Reorganization under Subchapter V dated June 1, 2026. The Debtor is in the business of manufacturing and selling fireworks, displays, and equipment, as well as designing and performing firework displays for its customers on a national basis, such as governmental entities, sporting events, country clubs, and private shows. The Debtor is a Missouri Limited Liability Company in good standing which was formed on January 17, 2002. Debtor's sole member is Aaron Mayfield. The Debtor's primary assets consist of an inventory of fireworks, black powder, cardboard parts, chemicals used in the manufacturing process, stars (colored marbles to give colors to the ignited fireworks), equipment to shoot displays, a storage and manufacturing facility/office, and 18 explosive magazines housed in decommissioned 40-foot semi trailers certified to hold explosives. The Debtor also owns a parcel of land with a common street address of 2429 East 535th Road, Buffalo, MO. This Plan provides for the reorganization of the Debtor under Subchapter V of Chapter 11 of the Bankruptcy Code. The Debtor will seek a sale of the Debtor's business operations and will fund Plan payments from receipts from said sale over a five-year term commencing on September 1, 2026. As of now, the Debtor believes a value of $995,528 can be netted for the sale of the business and its assets, including land owned. The Debtor continues to seek a higher value in an effort to maximize recovery to general unsecured creditors and pay them in full. There is an outside possibility of a single lump sum payment, although no buyer has committed to that. Class 4 consists of all general unsecured claims. The filed unsecured claims total $334,972.41. General unsecured creditors shall receive quarterly payments of $37,000 per quarter starting Dec. 1, 2027 and ending Aug. 1, 2031 (for the quarter that would otherwise end in Sept. 2031), receiving a dividend of approximately 92.8%. Aaron Mayfield shall retain his equity interest and his monthly pay of $3500 throughout this Plan. The Plan will be funded entirely from the continuing operations of the Reorganized Debtor. A full-text copy of the Plan of Reorganization dated June 1, 2026 is available at https://urlcurt.com/u?l=Si3rbT from PacerMonitor.com at no charge. Counsel to the Debtor: Jeffrey L. Wagoner, Esq. Ryan A. Blay, Esq. Wagoner Bankruptcy Group, P.C. dba W M Law 15095 W. 116th St. Olathe, KS 66062 Telephone: (913) 422-0909 Facsimile: (913) 428-8549 Email: bankruptcy@wagonergroup.com blay@wagonergroup.com About AM Pyrotechnics, LLC AM Pyrotechnics manufactures and supplies fireworks and custom pyrotechnic products, including ball shells, cylinder shells, mines, comets, Roman candles, and other specialty effects, and also designs and produces professional fireworks displays. AM Pyrotechnics, LLC filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. W.D. Mo. Case No. 26-60143) on February 27, 2026, listing $1,432,967 in assets and $938,851 in liabilities. The petition was signed by Aaron Mayfield as CEO and owner. Judge Brian T Fenimore presides over the case. Ryan A. Blay, Esq. at WM LAW, PC, serves as the Debtor's counsel. AMERICAN LOCATING: Gets Interim OK to Use Cash Collateral --------------------------------------------------------- American Locating Services, Inc. received interim approval from the U.S. Bankruptcy Court for the Southern District of Indiana to use up to $33,000 in cash collateral to fund operations. Under the interim order, the Debtor may use cash collateral in accordance with an approved budget through the date of the final hearing. Budgeted expense categories may not exceed projected amounts by more than 10%, and actual net cash flow must remain at least 90% of projected levels. Financial institutions and third-party payors are directed to release funds necessary for the authorized use of cash collateral, and the debtor must maintain its existing depository accounts. As adequate protection for secured creditors, including the U.S. Small Business Administration, the court granted replacement liens on post-petition cash collateral and other post-petition property to the same extent, validity, and priority as the creditors' prepetition liens. The court preserves all parties' rights to later challenge the extent, validity, priority, or perfection of liens, while requiring the debtor to maintain insurance, preserve assets, comply with reporting requirements, and cooperate with creditors and the U.S. Trustee. The Debtor's authority to use cash collateral may terminate upon an event of default, including dismissal or conversion of its Chapter 11 case, appointment of a trustee, noncompliance with the budget, unauthorized payments, or failure to satisfy reporting and adequate protection obligations. A final hearing on the cash collateral motion is scheduled for June 25. About American Locating Services, Inc. American Locating Services, Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Ind. Case No. 26-03480) on May 29, 2026, with $100,001 to $500,000 in assets and $500,001 to $1 million in liabilities. Judge Hon. James M Carr oversees the case. The Debtor is represented by: KC Cohen, Esq. Kc Cohen, Lawyer, PC Tel: 317-715-1845 Email: kc@esoft-legal.com AMERICAN TOOL: Gets OK to Tap BJC Advisors as Restructuring Advisor ------------------------------------------------------------------- American Tool & Mold, Inc. and its affiliates received approval from the U.S. Bankruptcy Court for the Middle District of Florida to employ BJC Advisors LLC as restructuring advisor. The firm will provide Joseph Baum as chief restructuring officer (CRO) and certain additional personnel to the Debtors. The CRO and additional personnel will provide these services: (a) coordinate and manage the restructuring activities; (b) assist with the preparation of schedules and analyses to effectuate a Chapter 11 filing; (c) assist with the preparation of the financial reporting required during a Chapter 11; (d) testimony, as required; and (e) other consulting services, as required. The firm will be paid at these hourly rates: Joseph Braum, CRO $750 Howard Konicov, Attorney $650 Steve Norowitz, Attorney $550 Manager $450 Consultant $350 In addition, the firm will seek reimbursement for expenses incurred. As of the petition date, the firm holds a total post-petition retainer of $104,130.03. Mr. Baum disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Joseph Baum BJC Advisors LLC 7 Proctor Street Manchester, MA 01944 About American Tool & Mold Inc. American Tool & Mold Inc. is a manufacturing company specializing in precision tooling, mold design, and custom machining solutions for industrial and commercial clients. The company provides services related to tool-and-die production, injection molds, metal fabrication, and engineered manufacturing components. American Tool & Mold Inc. supports a range of industries, including automotive, aerospace, consumer products, and industrial equipment manufacturing. American Tool & Mold Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 26-04159) on May 15, 2026. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. Honorable Bankruptcy Judge Luis Ernesto Rivera II, Esq. handles the case. The Debtor is represented by Daniel A. DeMarco, Esq. of Hahn Loeser & Parks, LLP. EverBank, NA, as lender, is represented by: J. Ellsworth Summers, Jr., Esq. Dana L. Robbins-Boehner, Esq. Marc A. Sendra, Esq. BURR & FORMAN LLP 50 N Laura Street, Suite 3000 Jacksonville, Florida 32202 Phone: (904) 232-7200 Fax: (904) 232-7 Email: esummers@burr.com drobbins-boehner@burr.com msendra@burr.com ANGIE'S MOBILE: Gets Interim OK to Use Cash Collateral ------------------------------------------------------ Angie's Mobile Pet Styling, LLC received interim approval from the U.S. Bankruptcy Court for the Middle District of Florida, Tampa Division to use cash collateral. Under the interim order, the Debtor may use cash collateral to pay court-authorized expenses and operating costs listed on the approved budget, plus an amount not to exceed 10% for each line item. The budget projects total operational expenses of $96,977 for June; $97,327 for July; $96,977 for August; $97,327 for September; and $96,977 for October. Payment to insiders or professionals listed on the budget is prohibited unless separate court approval is obtained while additional expenditures require written approval from secured creditors. Creditors asserting security interests in the Debtor's assets may include the U.S. Small Business Administration, which holds approximately $421,512 secured by a blanket lien on the assets and an additional claim of about $211,714 secured by real property in Lutz, Florida. Other secured creditors are primarily merchant cash advance lenders, including Headway Capital (approximately $116,708 under a blanket lien), First Data Merchant Services (approximately $146,980 secured by receivables), The Fundworks, LLC (approximately $29,464 secured by future receipts), and Secured Lending Solutions, LLC (claim amount unknown, asserted under a blanket lien). The Debtor estimates that the collateral securing these claims consists of approximately $10,021.84 in cash and $500 in inventory, totaling about $10,521.84 -- substantially less than the aggregate secured debt claimed by these creditors. As adequate protection, secured creditors will be granted perfected post-petition replacement liens on cash collateral, with the same validity, priority, and extent as their pre-petition liens. Additional safeguards include insurance coverage, regular financial reporting, and access to business records and premises upon request. The interim order preserves the rights of creditors and any future creditors' committee to seek additional protections or challenge lien claims. The Debtor's authority to use cash collateral remains in effect until further court order. The next hearing is scheduled for June 24. The order is available at http://bankrupt.com/misc/AngiesMobile_ICCOrder.pdf 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. APLD COMPUTECO 3: Fitch Assigns 'BB-(EXP)' IDR, Outlook Positive ---------------------------------------------------------------- Fitch Ratings has assigned APLD ComputeCo 3 LLC a Long-Term Issuer Default Rating (IDR) of 'BB-(EXP)' and a 'BB-(EXP)' rating to its $1.59 billion senior secured notes. The Rating Outlook is Positive. The rating reflects the project's contracted revenue profile, supported by a 15-year lease with CoreWeave, Inc. (BB-/Positive). Under Fitch's rating case, cash flows during the initial lease term are sufficient to repay the debt, mitigating lease renewal risk. However, the project's location and latency profile increase reliance on the current tenant. This caps the rating at CoreWeave's credit quality, although the project's financial metrics could support a higher rating. The project is exposed to completion risk, mitigated by the straightforward scope of work, and execution of a guaranteed maximum price (GMP) with an experienced contractor. The project does not face power supply risk, as the substation and energy service agreement (ESA) are in place. The IDR is equalized with debt facilities' ratings. KEY RATING DRIVERS Completion Risk - Stronger Simple Construction, Experienced Contractor The assessment is supported by the straightforward construction scope, an experienced contractor, and a reasonable schedule. The developer and contractor have already delivered 100 MW on the same campus, with a further 150 MW project on track for completion in 3Q26. While the construction schedule has limited headroom and the tenant has termination rights if delays extend beyond six months after the Phase 1 rent commencement date, these risks are mitigated by the contractor's experience, strong labor sourcing strategy, and demonstrated progress on other campus buildings. Cost escalation risk is mitigated by the fixed-price GMP contract and having already secured 99% of owner-furnished contractor-installed equipment prices. Further, contingencies and a fully funded six-months debt service reserve account (DSRA) provide a reasonable cushion to absorb unavoidable costs during completion delays. Part of the campus is subject to a U.S. Fish and Wildlife Service (USFWS) easement. The land was disturbed during construction, and USFWS has agreed to release the easement upon nearby wetland restoration and grant of replacement easements. The restoration work has been completed and approved by USFWS, with formal release expected in the first half of June 2026. Supply Risk - Stronger Substation & ESA in place The project does not face material power supply risk. A 530 MW substation is fully constructed on the Ellendale campus and capable of supplying all buildings, with no additional power-related construction required. Of this, 180 MW is allocated to the project and is currently operational, supplying an existing sponsor affiliate (a bitcoin mining facility) on campus. This entity holds an ESA with Montana-Dakota Utilities Co. (BBB+/Stable), which will be transferred to the project, along with all associated rights, prior to the lease ready-for-service dates. An additional 15 MW from excess campus capacity will also transfer, bringing total utility power available to 195 MW thereby supporting project's power usage efficiency (PUE). Revenue Risk - Stronger No Lease Renewal Risk The project's cash flows are fully contracted under a 15-year MG+E lease with CoreWeave, with three five-year extension options. The cash flows during the 15-year initial lease term are sufficient to repay the debt under Fitch's rating case assumptions, eliminating lease renewal risk. Despite less-favorable latency in North Dakota, lack of lease renewal risk supports the assessment. Operation Risk - Midrange MG+E Lease, Robust performance standards The lease is a modified gross plus electricity (MG + E) structure, passing electricity costs and some taxes to the tenant and reducing cost risk for the project. It includes robust performance standards, entitling the tenant to rent abatement for certain service interruptions or violations of service levels. The tenant also has termination options for affected data halls if service deficiencies exceed specified thresholds. Operational risks are mitigated by the data center's design, which includes redundancies for most critical systems. Infrastructure Development & Obsolescence Risk - Neutral Newly Built Data Center, Low Maintenance Since debt can fully amortize within the initial lease term under Fitch's rating case assumptions, exposure to technological obsolescence is limited. The newly built facility's core systems have useful lives extending beyond the lease term. Fitch anticipates only modest capex, primarily for battery replacement. Debt Structure - Weaker Refinance Risk, Weaker features with certain protections Senior secured notes mature in 2031 with modest mandatory amortization, exposed to refinance risk in 2031. Liquidity includes a $81 million debt service reserve account (DSRA) and plus funded interest during construction. The issuer and the subsidiary guarantors are required to operate as special-purpose entities (SPEs) with no comingling of funds with the parent entity, reflecting project finance protections. The structure permits additional indebtedness for new data center projects and additional debt up to 100% loan-to-cost post-construction, a significant allowance. However, incurrence under these baskets requires rating agency confirmation (from two agencies one of which includes Fitch), resulting in strong project finance style protections. Certain debt provisions are atypical and weaker than standard project finance structures. There are smaller permitted baskets, including one capped at 50% of LTM net operating income, although the risk is mitigated by sufficient lease cash flows. The issuer may enter joint ventures but cannot incur debt to fund them. The documentation also permits M&A activity, which is atypical and weaker relative to other project finance structures; however, any merged entity must assume all issuer obligations, including indebtedness restrictions. Restricted payments are permitted without testing against a specific debt service coverage ratio (DSCR). Peer Analysis APLD Compute Co LLC (BB-/Stable) is the closest peer, located on the same Ellendale campus with 250 MW of critical IT capacity, also leased to CoreWeave. While its Project Life Coverage Ratio (PLCR) supports a higher rating, the rating is constrained by CoreWeave's credit profile and the ability to incur additional debt. Unlike APLD Compute Co 3, APLD Compute Co LLC does not require rating agency confirmation to incur debt for additional projects, which also constrains its rating at BB-/Stable. APLD Compute Co 2 LLC (BB-/Stable) is another peer, a 200 MW facility in Harwood, North Dakota. It faces higher completion risk due to cost escalation exposure, tighter timelines, and a relatively less-experienced contractor. Its completion risk constrains the rating, whereas counterparty credit quality does not, given its investment-grade tenant. APLD Compute Co 2 also has a weaker financial profile, with a PLCR at maturity of 1.19x. RATING SENSITIVITIES Factors that Could, Individually or Collectively, Lead to Negative Rating Action/Downgrade Significant construction delays that result in increased unavoidable financing costs not covered by either contingencies or debt service reserve could lead to a downgrade; A degradation in the financial profile of the project, resulting in a decline in the minimum PLCR below 1.12x, could lead to a downgrade; If CoreWeave's credit quality falls below 'BB-', Fitch could take a corresponding action on the project. Factors that Could, Individually or Collectively, Lead to Positive Rating Action/Upgrade An upgrade in CoreWeave's credit quality above 'BB-', coupled with on-track completion progress, could lead to an upgrade. Financial Profile Fitch's base and rating cases assess project cash flows over the initial lease term and refinancing in year five. The base case assumes 3% annual operating expense growth, 5% stress to expenses, maintenance capex for battery replacement, and an 8.5% refinancing rate. The rating case is identical except for 10% stress to expenses. Fitch's rating case results in a PLCR of 1.29x at refinancing, an average DSCR of 1.19x (2028-2031) through note maturity. Fitch also assessed a case assuming the additional debt basket, capped at 50% of LTM NOI (c.$105 million), is fully utilized prior to refinancing, resulting in a PLCR of 1.20x in 2031. While coverage ratios are consistent with a higher rating, CoreWeave's rating caps the overall project rating. TRANSACTION SUMMARY $1.59 billion senior secured notes will be issued to develop 150 MW of critical IT capacity data center in North Dakota, preleased to CoreWeave. Note proceeds will fund the project, together with $565 million equity funded at close. The project is negotiating a lease assignment that would allow CoreWeave to assign the lease to a bankruptcy-remote, investment-grade CoreWeave SPV. However, since the proposed SPV's revenue term is shorter than the 15-year lease and there will be a springing guarantee from CoreWeave post expiry of the SPV lease, the project rating would remain capped by CoreWeave's credit quality. 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 Notes secured with first-priority liens on substantially all assets of the Issuer and the Subsidiary Guarantors. Excess property, including real property not required to perform datacenter lease obligations and interconnection capacity exceeding the 150 MW critical IT capacity allocated to the project, is excluded from collateral. Date of Relevant Committee 05-Jun-2026 PUBLIC RATINGS WITH CREDIT LINKAGE TO OTHER RATINGS Ratings are directly linked with CoreWeave's credit quality (BB-/Positive). Climate Vulnerability Signals The results of its Climate.VS screener did not indicate elevated risk for APLD ComputeCo 3 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 ----------- ------ APLD ComputeCo 3 LLC LT IDR BB-(EXP) Expected Rating APLD ComputeCo 3 LLC/senior secured/1 LT LT ARCHITECTURAL GLAZING: Seeks to Tap Lucove Say & Co. as Accountant ------------------------------------------------------------------ Architectural Glazing Systems, Inc. seeks approval from the U.S. Bankruptcy Court for the Northern District of Georgia to employ Lucove Say & Co. as accountant. The firm will provide accounting needs, such as tax accounting, during this Chapter 11 case. Richard Say, CPA, will be paid at his hourly rates of $250 to $350 for bookkeeping, accounting and tax return preparation. As of the petition date, the firm holds a $6,000 prepetition retainer. Mr. Say disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Richard Say Lucove Say & Co. 23901 Calabasas Road, Suite 2085 Calabasas, CA 91302 Telephone: (818) 224-4411 Facsimile: (818) 225-7054 About Architectural Glazing Systems Inc. Architectural Glazing Systems, Inc. is a construction industry company specializing in architectural glass and glazing solutions for commercial and institutional projects. The company provides design, fabrication, and installation services for building envelope systems. Architectural Glazing Systems, Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ga. Case No. 26-10813) on May 18, 2026. The filing was made voluntarily in federal bankruptcy court in Georgia. Judge Paul Baisier oversees the case. The Debtor tapped Thomas T. McClendon, Esq., at Jones & Walden, LLC as counsel and Lucove Say & Co. as accountant. ARMADILLO DISTRIBUTION: Case Summary & 20 Top Unsecured Creditors ----------------------------------------------------------------- Two affiliates that concurrently filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code: Debtor Case No. ------ -------- Armadillo Distribution Enterprises, Inc. (Lead) 26-04925 4924 West Waters Ave Tampa, FL 33634 Concordia Investment Partners, LLC 26-04926 700 Spottis Woode Ln Clearwater, FL 33756 Business Description: Armadillo Distribution Enterprises is a Tampa, Florida-based musical instrument company founded in 1994. The company designs, markets, distributes, and sells guitars, percussion instruments, and related musical products through brands including Dean Guitars, Dean USA Custom Shop, Luna Guitars, ddrum, and Stromberg Guitars. Its products include electric and acoustic guitars, ukuleles, custom-built American-made instruments, acoustic and electronic drums, and archtop jazz guitars, sold through domestic dealer networks, international distribution relationships, direct international shipments, and direct-to- consumer channels. Concordia Investment Partners is a Florida limited liability company that serves as the intellectual property holding company for the enterprise. The company owns trademarks, trade names, copyrights, licensing rights, domain names, and related intellectual property rights associated with the enterprise's brands. Chapter 11 Petition Date: June 9, 2026 Court: United States Bankruptcy Court Middle District of Florida Judge: Hon. Catherine Peek McEwen Debtors' Bankruptcy Counsel: Glenn D. Moses, Esq. VENABLE LLP 801 Brickell Avenue, Suite 1500 Miami, FL 33131 Tel: 305-349-2300 Debtors' Special Litigation & Conflicts Counsel: Robert F. Elgidely, Esq. FOX ROTHSCHILD LLP Armadillo Distribution's Estimated Assets: $1 million to $10 million Armadillo Distribution's Estimated Liabilities: $10 million to $50 million Concordia Investment's Estimated Assets: $1 million to $10 million Concordia Investment's Estimated Liabilities: $1 million to $10 million The petitions were signed by Pamela Keris-Rubinson as chief executive officer and manager. Full-text copies of the petitions, which include lists of the Debtors' 20 largest unsecured creditors, are available for free on PacerMonitor at: https://www.pacermonitor.com/view/57GOM2I/Concordia_Investment_Partners__flmbke-26-04926__0001.0.pdf?mcid=tGE4TAMA https://www.pacermonitor.com/view/TTC4LKI/Armadillo_Distribution_Enterprises__flmbke-26-04925__0001.0.pdf?mcid=tGE4TAMA ASHFORD HOSPITALITY: Completes $16 Million Sale of Chicago Hotel ---------------------------------------------------------------- Ashford Hospitality Trust, Inc. announced in a regulatory filing that its indirect wholly owned subsidiary HH Chicago LLC, completed the sale of the Silversmith Hotel Chicago Downtown located in Chicago, Illinois pursuant to an Agreement of Purchase and Sale, dated as of April 8, 2026, by and between HH Chicago LLC, as seller, and SHH Chicago LLC, as purchaser, for $16 million in cash, subject to customary pro-rations and adjustments. About Ashford Hospitality Ashford Hospitality Trust is a real estate investment trust (REIT) focused on investing predominantly in upper upscale, full-service hotels. Dallas, Texas-based BDO USA, P.C., the Company's auditor since 2015, issued a "going concern" qualification in its report dated March 20, 2026, attached to the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2025, citing that the Company has final debt maturities within one year from the date the financial statements are issued, which raise substantial doubt about its ability to continue as a going concern. As of March 31, 2026, Ashford had $2.6 billion in total assets, $3 billion in total liabilities, and a total stockholders' deficit of $695.2 million. As of March 31, 2026, the Company had total indebtedness of $2.4 billion included $2.2 billion of variable-rate debt. ASPIRING SOLUTIONS: Unsecureds Will Get 6.5% over 60 Months ----------------------------------------------------------- Aspiring Solutions LLC filed with the U.S. Bankruptcy Court for the Northern District of California a Small Business Plan of Reorganization under Subchapter V dated June 1, 2026. The Debtor, under the brand name "GillyGro," is a founder-led U.S.-based startup lifestyle travel and parenting brand focused on multifunctional travel gear designed for organized mobility. The company operates through a hybrid retail and manufacturing model, with primary distribution historically driven through Amazon Seller Central in the United States. The Debtor's financial projections show that the Debtor will have projected disposable income of $265/month. The final Plan payment is expected to be paid on October 1, 2031 which is anticipated to be 59 months after the effective date. Non-priority unsecured creditors holding allowed claims will receive distributions, which the proponent of this Plan has valued at approximately 6.5 cents on the dollar. This Plan also provides for the payment of administrative and priority claims. Class 3 consists of Non-priority unsecured creditors. The total amount of the allowed general unsecured claims is $242,037.55, and includes the undersecured portion of Zions' claim. Based on the liquidation analysis and the income valuation of the Debtor's assets, the holders of allowed general unsecured claims will be receiving an estimated 6.5% pro-rata distribution through the plan. The distribution to allowed general unsecured claims will be made monthly, with the first payment of $265.00 due on the Effective Date, followed by 59 consecutive payments, each in the amount of $265.00, to be paid pro-rata to each holder of allowed general unsecured claim. This Class is impaired. Class 4 consists of Equity security holders of the Debtor. The equity security holder of the Debtor is Suphy Kung. Ms. Kung is the CEO and a 100% equity security holder of the Debtor. Ms. Kung does not hold a pre-petition or a post-petition claim against the Debtor. Ms. Kung will retain her interest unchanged in the reorganized debtor after plan confirmation. The Debtor's proposed 5-year projections itemize the Debtor's revenue sources and the expenses for the next 5 years. The Debtor intends to fund its plan from the continued operation on its business. Debtor's projections were prepared by carefully analyzing the historical income and expenses, the Debtor's performance during the present case, and the prospective income and expenses due to Debtor's participation in the Pilot program. A full-text copy of the Plan of Reorganization dated June 1, 2026 is available at https://urlcurt.com/u?l=1i3l4N from PacerMonitor.com at no charge. Counsel to the Debtor: Michael Jay Berger, Esq. Law Offices of Michael Jay Berger 9454 Wilshire Boulevard, 6th Floor Beverly Hills, CA 90212 Telephone: (310) 271-6223 Facsimile: (310) 271-9805 Email: michael.berger@bankruptcypower.com About Aspiring Solutions LLC Aspiring Solutions LLC is a founder-led U.S.-based startup lifestyle travel and parenting brand focused on multifunctional travel gear designed for organized mobility. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Calif. Case No. 26-50328) on March 2, 2026, with $100,001 to $500,000 in both assets and liabilities. Michael Jay Berger, Esq., at the Law Offices of Michael Jay Berger is the Debtor's bankruptcy counsel. AURA SYSTEMS: Needs Additional Time to Complete Annual Report ------------------------------------------------------------- Aura Systems, Inc. has filed a Form 12b-25 with the U.S. Securities and Exchange Commission notifying the Commission of a delay in filing its Annual Report on Form 10-K for the period ended February 28, 2026. The Company has determined the need for additional time to complete its quarter-end close procedures principally due to delays relating to the Company transitioning to certain new system platforms as well as recent management changes. The Company currently expects to file Form 10-K within the fifteen-day extension period provided under Rule 12b-25 of the Securities Exchange Act of 1934, as amended. About Aura Systems Headquartered in Lake Forest, California, Aura Systems, Inc., develops and manufactures electric motors and generators using proprietary axial flux induction technology. The Company offers solutions for commercial, industrial, and military applications under the AuraGen and VIPER brands. It focuses on designing high-efficiency, compact, and magnet-free machines, with ongoing development in electric vehicle systems, mobile power generation, and renewable energy integration. Aura operates primarily in North America with plans for global expansion through partnerships, licensing, and joint ventures. In an audit report dated June 13, 2025, Weinberg & Company, P.A. issued a "going concern" qualification citing that during the year ended Feb. 28, 2025, the Company incurred a net loss of $21 million, used cash in operations of $3 million, and at Feb. 28, 2025, had a stockholders' deficit of $37 million. In addition, at Feb. 28, 2025, notes payable and related accrued interest with an aggregate balance of $5 million have reached maturity and are past due. These matters raise substantial doubt about the Company's ability to continue as a going concern. As of November 30, 2025, the Company had $1.32 million in total assets, $38.24 million in total liabilities, and $36.93 million in total stockholders' deficit. AVALON GLOBOCARE: Appoints Sam Knipper as Chief Financial Officer ----------------------------------------------------------------- Avalon Globocare Corp. announced in a regulatory filing that the board of directors appointed Luisa Ingargiola as the Company's Chief Strategy Officer, and Sam Knipper as the Company's Chief Financial Officer, in each case, effective June 3, 2026. Ms. Ingargiola currently serves as the Company's Chief Financial Officer and will continue to serve in such capacity until the Effective Date. Mr. Knipper will serve as the Company's principal financial and accounting officer effective as of the Effective Date. Ms. Ingargiola, age 58, has served as the Company's Chief Financial Officer since February 2017. Ms. Ingargiola's biographical information is in the Company's definitive proxy statement on Schedule 14A filed with the Securities and Exchange Commission on April 17, 2026, which is incorporated herein by reference. Mr. Knipper, age 31, has served as the Company's Chief Financial Officer since June 3, 2026. Since October 2023, Mr. Knipper has served as an SEC Reporting Manager at Brio Financial Group, where he provides outsourced CFO and financial reporting services to both public and private companies, including for an AI company since October 2024. In this role, he advises several Special Purpose Acquisition Companies (SPACs) on SEC compliance and reporting matters, overseeing the preparation of registration statements, quarterly and annual reports, and other public company filings. From July 2021 through October 2023, Mr. Knipper was a Senior Associate at Calabrese Consulting, where he provided outsourced CFO services to SPACs and emerging companies. He managed financial reporting processes, maintained accounting records, coordinated with auditors and legal counsel, and supported clients through quarterly and annual reporting cycles. From November 2020 through May 2021, Mr. Knipper served as an SEC Reporting Associate at Cantor Fitzgerald, where he was responsible for preparing and analyzing financial statements and supporting the company's annual and quarterly reporting processes and from October 2017 through November 2020, Mr. Knipper worked at KPMG, most recently in the role of Senior Audit Associate and led audit engagements for both public and private companies in the banking, capital markets, and automotive leasing sectors. Mr. Knipper holds a Bachelor of Science in Business Administration and Accounting and a Master of Accountancy from Rider University. There is no arrangement or understanding between Mr. Knipper and any other person, other than the Company's directors or officers acting solely in their capacity as such, pursuant to which he was selected as an officer or director of the Company. Mr. Knipper is not related by blood, marriage or adoption to any director, executive officer or person nominated or chosen by the Company to become a director or executive officer. The Company is not aware of any transaction, or currently proposed transaction, in which the Company was or is to be a participant and in which Mr. Knipper or any member of his immediate family, had or will have a direct or indirect material interest that would be required to be reported under Item 404(a) of Regulation S-K. In connection with her appointment as the Company's Chief Strategy Officer, the Company entered into an Executive Retention Agreement with Ms. Ingargiola on 3, 2026. The following is a brief description of certain terms of that agreement: Ms. Ingargiola will receive an annual base salary of $230,000, subject to periodic review and adjustment by the Company's board of directors or compensation committee. She will be eligible: (a) for an annual performance bonus of up to 100% of her base salary, as well as discretionary bonuses as determined by the Company's board of directors or compensation committee, (b) to receive a one-time special bonus equal to 100% of her base salary upon approval by the Company's stockholders of the issuance of shares of the Company's common stock upon conversion of the Company's Series E Preferred Stock issued in connection with the acquisition of RPM Interactive, Inc. that was completed in December 2025, and (c) to receive a one-time bonus equal to 100% of her base salary upon the consummation of a change of control of the Company. Upon stockholder approval of the Avalon GloboCare Corp. 2026 Stock Incentive Plan, Ms. Ingargiola will be granted: (i) a stock option to purchase 500,000 shares of the Company's common stock, fully vested upon grant, and (ii) a stock option to purchase 250,000 shares of the Company's common stock, vesting monthly in equal installments over 12 months, subject to continued employment. Both grants will have an exercise price equal to the closing price of the Company's common stock on the date of grant, a five-year term, and will be exercisable during such term regardless of whether Ms. Ingargiola is employed by the Company at the time of exercise. In the event the Company's stockholders do not approve the 2026 Plan (or another equity incentive plan) within 12 months of the Effective Date, the Initial Grant will be made under the Avalon GloboCare Corp. 2020 Stock Incentive Plan, and, in lieu of the Second Grant, Ms. Ingargiola will be paid an amount in cash to be mutually agreed upon by her and the Company. In the event her employment with the Company terminates for any reason, including death or disability, Ms. Ingargiola will be entitled to be paid all salary and accrued vacation earned through the date of termination and a lump sum payment of any actual bonus to the extent that all the conditions for payment of such bonus were satisfied and any such bonus was earned and is unpaid on the date of termination. If the event of a Termination Upon Change of Control (as described below), Ms. Ingargiola will also be entitled to: (a) a cash severance payment equal to 12 months of her base salary, payable in installments; (b) a lump sum payment equal to 100% of any earned but unpaid bonus for the prior year and a pro-rated target bonus for the year of termination; (c) full acceleration of vesting and exercisability of all outstanding equity awards, with the exercise period for stock options extended through the end of the applicable option term; (d) company-paid COBRA health insurance coverage for 12 months; and (e) continued indemnification and D&O insurance coverage for not less than 24 months following termination. In the event her employment is terminated by the Company without cause or if she resigns for good reason, Ms. Ingargiola will be entitled to the same benefits described above except the termination of employment or resignation must occur after the expiration of three months after the Effective Date and the company-paid COBRA health insurance coverage will be provided only if the termination of employment or resignation occurs after the expiration of six months after the Effective Date. A Termination Upon Change of Control is generally defined as either: (i) the termination of the executive's employment by the Company without cause during the period commencing on or after the date that the Company first publicly announces a definitive agreement that results in a change of control of the Company (even though still subject to approval by the Company's stockholders and other conditions and contingencies, but provided that the change of control actually occurs) and ending on the date which is 12 months following the change of control, or (ii) the resignation by the executive for good reason where: (y) such good reason occurs during the period commencing on or after the date that the Company first publicly announces a definitive agreement that results in a change of control (even though still subject to approval by the Company's stockholders and other conditions and contingencies, but provided that the change of control actually occurs) and ending on the date which is 12 months following the change of control, and (z) such resignation occurs at or after such change of control and in any event within six months following the occurrence of such good reason. The severance payments and benefits are conditioned on Ms. Ingargiola executing and delivering a release of claims in favor of the Company. All compensation paid or payable to Ms. Ingargiola under her Executive Retention Agreement will be subject to any clawback, recoupment or similar policy that the Company may adopt from time to time. A full text copy of the Executive Retention Agreement is available at https://tinyurl.com/7d6yp8mf. In connection with the Executive Retention Agreement, Ms. Ingargiola entered into the Company's standard form of indemnification agreement, a copy of which is available at https://tinyurl.com/2z7yy53e In connection with Mr. Knipper's appointment as the Company's Chief Financial Officer, the Company entered into an agreement with Brio Financial Group and a consulting agreement with Mr. Knipper. Mr. Knipper is employed by Brio and he will serve as the Company's Chief Financial Officer for so long as the agreement between the Company and Brio is in effect. The Company may terminate that agreement at any time. The Company will pay Brio a fixed monthly payment of $10,000. Brio will compensate Mr. Knipper for the services he provides to the Company. Neither Ms. Ingargiola nor Mr. Knipper has a family relationship with any directors or executive officers of the Company, nor are there any arrangements or understandings between either Ms. Ingargiola or Mr. Knipper and any other persons pursuant to which they were selected as an officer of the Company except as described in the paragraph above with respect to Mr. Knipper. There are no current or proposed related party transactions between Ms. Ingargiola or Mr. Knipper, on the one hand, and the Company, on the other, or any transactions involving a member of either of their immediate families, that would require disclosure under Item 404(a) of Regulation S-K. About Avalon Globocare Avalon Globocare Corp., based in Freehold, New Jersey, develops and markets precision diagnostic consumer products and cellular therapy intellectual property. The Company currently sells the KetoAir breathalyzer, a U.S. FDA-registered Class I medical device, and plans to expand its diagnostic applications. It also owns and manages commercial real estate at its headquarters. The Woodlands, TX-based M&K CPAS, PLLC, the Company's auditor since 2024, issued a "going concern" qualification in its report dated March 30, 2026, attached to the Company's Annual Report on Form 10-K for the year ended December 31, 2025, citing that the Company has yet to achieve profitable operations, has negative cash flows from operating activities, and is dependent upon future issuances of equity or other financings to fund ongoing operations all of which raises substantial doubt about its ability to continue as a going concern. As of March 31, 2026, the Company had $16.25 million in total assets, $4.52 million in total liabilities, and $11.72 million in total stockholders' equity. AVALON GLOBOCARE: Obtains $400K Financing From Dune, FirstFire -------------------------------------------------------------- Avalon Globocare Corp. announced in a regulatory filing that it issued a promissory note to Dune Equity Holdings LLC in the principal amount of $250,000 (inclusive of a $50,000 original issuance discount) for gross proceeds of $200,000. The Company intends to use the net proceeds of the Dune Note for working capital and general corporate purposes. The Dune Note matures on December 1, 2026 and has a one-time interest charge equal to 18.75% of the principal amount, or $46,875,000, payable in cash. Any principal or accrued but unpaid interest on the Dune Note which is not paid when due shall accrue interest at a rate of 10% per annum. The principal amount of the Dune Note together with accrued but unpaid interest shall be paid as follows: (i) $62,500 shall be paid on each of September 1, 2026, October 1, 2026 and November 1, 2026 and (ii) the total remaining balance of the Dune Note shall be paid on December 1, 2026. The Company granted Dune a "most-favored nations" provision with respect to the issuance of any debt that is not convertible into common stock of the Company (or amends any non-convertible debt that was issued before the Issue Date). In addition, the Company agreed to use 25% of the net proceeds from an issuance of equity or debt or sale of assets to repay amounts outstanding under the Dune Note. In connection with the issuance of the Dune Note, on June 1, 2026 the Company entered into a side letter with Dune under which it granted Hudson Global Ventures, LLC., a three day right of first refusal on any Equity Line of Credit transaction for a 18-month period following execution of the Side Letter. FirstFire Note On June 2, 2026, the Company issued promissory note to FirstFire Global Opportunities Fund, LLC in the principal amount of $250,000 (inclusive of a $50,000 original issuance discount) for gross proceeds of $200,000 on the same terms and conditions of the Dune Note described above. The Company intends to use the net proceeds of the FirstFire Note for working capital and general corporate purposes. A full text of the form of Note and the Side Letter are available at https://tinyurl.com/2v296t26 and https://tinyurl.com/5fynnamn About Avalon Globocare Avalon Globocare Corp., based in Freehold, New Jersey, develops and markets precision diagnostic consumer products and cellular therapy intellectual property. The Company currently sells the KetoAir breathalyzer, a U.S. FDA-registered Class I medical device, and plans to expand its diagnostic applications. It also owns and manages commercial real estate at its headquarters. The Woodlands, TX-based M&K CPAS, PLLC, the Company's auditor since 2024, issued a "going concern" qualification in its report dated March 30, 2026, attached to the Company's Annual Report on Form 10-K for the year ended December 31, 2025, citing that the Company has yet to achieve profitable operations, has negative cash flows from operating activities, and is dependent upon future issuances of equity or other financings to fund ongoing operations all of which raises substantial doubt about its ability to continue as a going concern. As of March 31, 2026, the Company had $16.25 million in total assets, $4.52 million in total liabilities, and $11.72 million in total stockholders' equity. AVITA MEDICAL: Stockholders OK All Proposals at Annual Meeting -------------------------------------------------------------- AVITA Medical, Inc. held its 2026 Annual Meeting of Stockholders solely by means of remote communication via live webcast. At the close of business on April 9, 2026, the record date of the Annual Meeting, 30,776,689 shares of the Company's common stock were outstanding and entitled to vote on the matters presented at the Annual Meeting. The holders of a total of 15,592,447 shares voted at the Annual Meeting, which total constituted a quorum, being not less than a majority of the outstanding shares entitled to vote. At the Annual Meeting, the Company's stockholders voted on all the proposals summarized in the Proxy Statement, as set forth below: 1. Election of Directors (Proposal 1): All seven directors named in the Proxy Statement were elected to serve on the Company's Board of Directors with the following votes: 1. Jan Stern Reed * Votes For: 10,902,991 * Votes Withheld: 798,914 * Broker Non-Votes: 3,890,542 2. Professor Suzanne Crowe * Votes For: 10,979,194 * Votes Withheld: 722,711 * Broker Non-Votes: 3,890,542 3. Jeremy Curnock Cook * Votes For: 10,700,424 * Votes Withheld: 1,001,481 * Broker Non-Votes: 3,890,542 4. Robert McNamara * Votes For: 10,962,888 * Votes Withheld: 739,017 * Broker Non-Votes: 3,890,542 5. Dr. Michael Tarnoff * Votes For: 11,011,908 * Votes Withheld: 689,997 * Broker Non-Votes: 3,890,542 6. Joseph Woody * Votes For: 10,977,874 * Votes Withheld: 724,031 * Broker Non-Votes: 3,890,542 7. Cary Vance * Votes For: 11,176,792 * Votes Withheld: 525,113 * Broker Non-Votes: 3,890,542 2. Appointment of Independent Auditor (Proposal 2): The stockholders ratified the selection of Grant Thornton LLP as the Company's independent registered public accounting firm for the year ending December 31, 2026. The votes regarding this proposal were as follows: * Votes For: 14,962,654 * Votes Against: 255,151 * Abstentions: 374,642 3. Increase the maximum aggregate annual cash fee pool from which the non-executive Directors of the Company may be paid (Proposal 3): Stockholders approved, for the purposes of ASX Listing Rule 10.17 and section 2.10 of the Company's Amended and Restated Bylaws (and for all other purposes), an increase to the aggregate annual cash fee pool from which non-executive directors of the Company may be paid for their services from a maximum of US$750,000 per annum to a maximum of US$900,000 per annum. The votes regarding this proposal were as follows: * Votes For: 8,582,602 * Votes Against: 2,710,656 * Abstentions: 408,647 * Broker Non-Votes: 3,890,542 4. Issuance of Securities to Non-Executive Directors (Proposals 4 - 7, 9 & 11): Stockholders approved the annual grants comprised of 22,214 restricted stock units and 16,133 stock options, to each of the following non-executive directors, in accordance with the terms and conditions set out in the Proxy Statement. The votes regarding these proposals were as follows: 1. Professor Suzanne Crowe * Votes For: 8,869,562 * Votes Against: 2,411,009 * Abstentions: 421,334 * Broker Non-Votes: 3,890,542 2. Jeremy Curnock Cook * Votes For: 8,722,810 * Votes Against: 2,544,450 * Abstentions: 434,645 * Broker Non-Votes: 3,890,542 3. Robert McNamara * Votes For: 8,818,589 * Votes Against: 2,449,386 * Abstentions: 433,930 * Broker Non-Votes: 3,890,542 4. Jan Stern Reed * Votes For: 8,841,764 * Votes Against: 2,434,253 * Abstentions: 425,888 * Broker Non-Votes: 3,890,542 5. Dr. Michael Tarnoff * Votes For: 8,774,530 * Votes Against: 2,458,787 * Abstentions: 468,588 * Broker Non-Votes: 3,890,542 6. Joseph Woody * Votes For: 8,830,204 * Votes Against: 2,446,817 * Abstentions: 424,884 * Broker Non-Votes: 3,890,542 5. Issuance of Securities to Dr. Michael Tarnoff (Proposal 8): Stockholders approved the initial grant comprised of 26,250 restricted stock units and 19,063 stock options, to Dr. Michael Tarnoff, in accordance with the terms and conditions set out in the Proxy Statement. The votes regarding this proposal were as follows: * Votes For: 8,791,498 * Votes Against: 2,433,367 * Abstentions: 477,040 * Broker Non-Votes: 3,890,542 6. Issuance of Securities to Joseph Woody (Proposal 10): Stockholders approved the initial grant comprised of 40,547 restricted stock units and 29,446 stock options, to Mr. Joseph Woody, in accordance with the terms and conditions set out in the Proxy Statement. The votes regarding this proposal were as follows: * Votes For: 8,863,312 * Votes Against: 2,395,376 * Abstentions: 443,217 * Broker Non-Votes: 3,890,542 7. Advisory Vote to Approve Compensation of Named Executive Officers (Proposal 12): Stockholders voted in favor of the non-binding advisory vote to approve the compensation of the Company's named executive officers. The votes regarding this proposal were as follows: * Votes For: 8,918,272 * Votes Against: 2,202,213 * Abstentions: 581,420 * Broker Non-Votes: 3,890,542 8. Advisory Vote on the Frequency of Future Advisory Votes on Executive Compensation (Proposal 13): Stockholders voted in favor of the non-binding advisory vote to set the frequency of future advisory votes to approve the compensation of the Company's named executive officers. The votes regarding this proposal were as follows: * Votes For 1 Year: 9,545,151 * Votes For 2 Years: 924,743 * Votes For 3 Years: 650,252 * Abstentions: 581,759 * Broker Non-Votes: 3,890,542 9. Approval of the Issuance of Warrants (Proposal 14): Stockholders approved, for the purpose of ASX Listing Rule 7.1 (and all other purposes), the issuance of a warrant or warrants covering up to 650,000 shares of Common Stock, with a term of ten years, to Perceptive Credit Holdings V, LP, pursuant to the credit agreement between the Company and Perceptive, dated January 13, 2026. The votes regarding this proposal were as follows: * Votes For: 9,322,532 * Votes Against: 1,769,627 * Abstentions: 609,746 * Broker Non-Votes: 3,890,542 10. Approval of the Issuance of Equity Securities (Proposal 15): Stockholders approved as a special resolution, for the purpose of ASX Listing Rule 7.1A (which allows the Company to seek stockholder approval to issue an additional 10% over the annual listing limit of 15% of its issued capital in a consecutive 12-month period) and all other purposes, the issue of Equity Securities (as defined in ASX Listing Rule 19.2) up to such additional 10% of the issued capital (at the time of issuance) of the Company (as calculated in accordance with ASX Listing Rule 7.1A.2). The votes regarding this proposal were as follows: * Votes For: 8,947,195 * Votes Against: 2,223,106 * Abstentions: 531,604 * Broker Non-Votes: 3,890,542 About Avita Medical, Inc. AVITA Medical, Inc. and its subsidiaries is a leading therapeutic acute wound care Company delivering transformative solutions. The Company's technologies are designed to optimize wound healing, effectively accelerating the time to patient recovery. The Company's solutions improve the healing outcomes for patients with traumatic injuries and surgical repairs, addressing critical healing needs that arise from unpredictable and life-changing events. At the forefront of the Company's portfolio is the patented and proprietary RECELL(R) System, approved by the U.S. Food and Drug Administration for the treatment of thermal burn wounds and full-thickness skin defects. RECELL harnesses the healing properties of a patient's own skin to create an autologous skin cell suspension, Spray-On Skin(TM) Cells, offering an innovative solution for improved clinical outcomes at the point-of-care. Newport Beach, California-based Grant Thornton LLP, the Company's auditor since 2020, issued a "going concern" qualification in its report dated February 12, 2026, attached to the Company's Annual Report on Form 10-K for the year ended December 31, 2025, citing that the Company has current debt service obligations and has incurred historical negative cash flows and recurring losses. These conditions, along with other matters, raise substantial doubt about the Company's ability to continue as a going concern. As of March 31, 2026, the Company had $51.5 million in total assets, $74.7 million in total liabilities, and $23.2 million in total stockholders' deficit. BEELINE HOLDINGS: C/M Capital and Affiliates Disclose Equity Stakes ------------------------------------------------------------------- C/M Capital Master Fund, LP, Cavalry Fund I LP, C/M Capital Partners, LP, Cavalry Investment Fund, LP, Cavalry Fund I Management LLC, Thomas Walsh, and Jonathan Juchno, disclosed in a Schedule 13G filed with the U.S. Securities and Exchange Commission that as of May 28, 2026, they beneficially own the following of Beeline Holdings, Inc.'s Common Stock, par value $0.0001 per share: * C/M Capital Master Fund, LP: 1,054,617 shares (3.4%) * Cavalry Fund I LP: 114,508 shares (0.4%) * C/M Capital Partners, LP: 1,169,125 shares (3.7%) * Cavalry Investment Fund, LP: 763,374 shares (2.4%) * Cavalry Fund I Management LLC: 763,374 shares (2.4%) * Thomas Walsh: 1,932,499 shares (6.2%) * Jonathan Juchno: 1,169,125 shares (3.7%) The shares are held by the respective Funds. C/M Capital Partners, LP serves as investment manager to C/M Capital Master Fund, LP and Cavalry Fund I LP. Cavalry Fund I Management LLC serves as investment manager to Cavalry Investment Fund, LP. Thomas Walsh and Jonathan Juchno are managing members of the relevant general partners. They disclaim beneficial ownership except to the extent of their pecuniary interest. The percentages are based on 31,178,713 shares of Common Stock outstanding as of May 15, 2026, as reported in the Beeline Holdings' Form 10-Q filed on May 15, 2026. The Reporting Persons may be reached through: Thomas Walsh or Jonathan Juchno 1111 Brickell Ave, Suite 2920 Miami, FL 33131 Tel: 201-391-1839 A full-text copy of C/M CAPITAL PARTNERS, LP's Schedule 13G is available at: https://tinyurl.com/3ywab57d About Beeline Holdings Beeline Financial Holdings, Inc. is a mortgage fintech transforming the way people access property financing. Through its fully digital, Al-powered platform, Beeline delivers a faster, smarter path to home loans-whether for primary residences or investment properties. Headquartered in Providence, Rhode Island, Beeline is reshaping mortgage origination with speed, simplicity, and transparency at its core. The Company is a wholly owned subsidiary of Beeline Holdings and also operates Beeline Labs, its innovation arm focused on next-generation lending solutions. Boca Raton, Florida-based Salberg & Company, P.A., the Company's auditor since 2024, issued a "going concern" qualification in its report dated March 31, 2026, attached to the Company's Annual Report on Form 10-K for the year ended December 31, 2025, citing that the Company has incurred recurring losses and negative cash flows from operations since its inception, has a significant working capital deficit, and is dependent on debt and equity financing. These matters raise substantial doubt about the Company's ability to continue as a going concern. As of December 31, 2025, the Company had $70.2 million in total assets, $16.6 million in total liabilities, and $53.6 million in total equity. BIG DIGITAL: Secures $40 Million Revolving Credit Facility ---------------------------------------------------------- Big Digital Energy, Inc. announced in a regulatory filing that the Company and Endeavor Blockchain, LLC, an Arkansas limited liability company, entered into a promissory note providing for a revolving line of credit, with the aggregate principal sum of all revolving loans advanced from time to time by the Noteholder to the Borrower not to exceed $40,000,000. Pursuant to the Promissory Note, each revolving loan bears interest at a fixed rate of 12% per annum, with principal and interest payable upon demand. The revolving line of credit is secured by assets of the Borrower listed in the Promissory Note. The Promissory Note contains customary representations, warranties, covenants, events of default and security arrangements. Borrower is also subject to restrictions on incurring additional indebtedness and additional liens on the collateral. The Promissory Note provides for customary events of default, including, among others, failure to pay principal or interest, breach of representations and warranties, violation of covenants, bankruptcy or insolvency events. The Borrower may at any time, and without penalty, prepay outstanding amounts under the revolving loans, or if there are no outstanding amounts, terminate the Promissory Note. Josh Kilgore, the Company's Executive Chairman of the Board, is the sole member of Endeavor. The issuance of the Promissory Note is a related party transaction that was approved by the Audit Committee of the Board of Directors and the Special Transactions Committee of the Board. A full text copy of the document is available at https://tinyurl.com/yc3wjr27 About Big Digital Energy Inc. Big Digital Energy, Inc. formerly known as Mawson Infrastructure Group Inc., is a U.S.-based technology company that designs, builds, and operates next-generation digital infrastructure platforms. The Company provides services spanning artificial intelligence, high performance computing, digital assets (including Bitcoin mining), and other intensive compute applications. The Company delivers both self-mining operations and colocation/hosting for enterprise customers, with a vertically integrated infrastructure model built for scalability and efficiency. Boston, Massachusetts-based Wolf & Company, P.C., the Company's auditor since 2023, issued a "going concern" qualification in its report dated March 31, 2026, attached to the Company's Annual Report on Form 10-K for the year ended December 31, 2025, citing that the Company has incurred net losses since its inception, and had negative working capital and will need additional funding to continue operations. This raises substantial doubt about the Company's ability to continue as a going concern. As of March 31, 2026, the Company had $48.4 million in total assets, $44 million in total liabilities, and $4.3 million in total stockholders' equity. BIOMERICA INC: Agrees to Sell 6% Stake in Diagnosis S.A. for $500K ------------------------------------------------------------------ Biomerica, Inc. announced in a regulatory filing that it entered into a Securities Purchase Agreement with Izhak Cohen (AKA Zack Irani) ("Lead Buyer"), AVR August LLC, and AVR September LLC (the "Buyers"), whereby the Company agreed to sell to the Buyers 78,750 shares owned by the Company of Diagnosis S.A., a medical products producer and distributor headquartered in Bialystok, Poland, which represents approximately 6% of the issued and outstanding shares of Diagnosis. Pursuant to the Purchase Agreement, the Company agreed to sell, and the Buyers agreed to buy, the Shares for an aggregate purchase price of $500,000. The Buyers are affiliated with Zackary Irani, the Company's Chief Executive Officer. Pending the transfer of the Shares to the Buyers pursuant to the Purchase Agreement, the Buyers delivered the Purchase Price in exchange for a secured promissory term note in the principal amount of $500,000. The Note bears interest at a rate of 8% per annum and matures 12 months from the Effective Date. Pursuant to the Note, the Company granted to the Buyers a continuing lien and security interest in all of the Company's right, title and interest in, to and under the Shares. The aggregate principal amount of the Note together with all accrued and unpaid interest thereon, will be due and payable on the Maturity Date. Upon the completion of Transfer, the aggregate principal amount of the Note together with all accrued and unpaid interest thereon, in excess of an amount equal to 60 days of interest accrued on the Purchase Price at the Stated Interest Rate, will be forgiven in full. The Purchase Agreement contains customary representations, warranties and agreements by the Company and the Buyers, customary conditions to closing, including, without limitation, all regulatory approvals for the Transfer required under Polish law, which conditions are expected to be satisfied within thirty days after the Effective Date, and other obligations of the parties. The representations, warranties and agreements contained in the Purchase Agreement were made only for purposes of such agreement and as of specific dates, were solely for the benefit of the parties to such agreement, and may be subject to limitations agreed upon by the contracting parties. A full text copy of the Purchase Agreement is available at https://tinyurl.com/482s3j3s About Biomerica, Inc. Headquartered in Irvine, Calif., Biomerica, Inc. is a global biomedical technology Company that develops, patents, manufactures and markets advanced diagnostic and therapeutic products. The Company's diagnostic test kits are utilized in the analysis of blood, urine, nasal, or fecal samples for the diagnosis of various diseases, food intolerances, and other medical conditions. These kits also measure levels of specific hormones, antibodies, antigens, and other substances, which may exist in the human body at extremely low concentrations. The Company's products are designed to enhance health and well-being while reducing overall healthcare costs. Irvine, Calif.-based Haskell & White LLP, the Company's auditor since 2022, issued a "going concern" qualification in its report dated Aug. 29, 2025, attached to the Company's Annual Report on Form 10-K for the fiscal year ended May. 31, 2025, citing that the Company has experienced recurring losses and negative cash flows from operations and has an accumulated deficit and limited liquid resources. These matters raise substantial doubt about the Company's ability to continue as a going concern. As of February 28, 2026, the Company had $4.88 million in total assets, $1.56 million in total liabilities, $3.32 million in total shareholders' equity. BLUE CLOUDS: Case Summary & 16 Unsecured Creditors -------------------------------------------------- Debtor: Blue Clouds Health Care Incorporated 729 N Fielder Rd Ste A Arlington, TX 76012 Business Description: Blue Clouds Health Care Incorporated, doing business as Treat Now Family Clinic, is an outpatient medical and psychiatric clinic based in Arlington, Texas. The company provides family care and psychiatric and mental health services through nurse practitioners from its office at 729 N. Fielder Road. Chapter 11 Petition Date: June 8, 2026 Court: United States Bankruptcy Court Northern District of Texas Case No.: 26-42540 Debtor's Counsel: Clayton L. Everett, Esq. NORRED LAW, PLLC 515 E. Border Arlington TX 76010 Tel: (817) 704-3984 Email: clayton@norredlaw.com Estimated Assets: $0 to $50,000 Estimated Liabilities: $1 million to $10 million The petition was signed by Catherine O'Connor as president. A full-text copy of the petition, which includes a list of the Debtor's 16 unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/EFLSUSY/Blue_Clouds_Health_Care_Incorporated__txnbke-26-42540__0001.0.pdf?mcid=tGE4TAMA BLUE IVY: Seeks Chapter 11 Bankruptcy in Massachusetts ------------------------------------------------------ On June 9, 2026, Blue Ivy, 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 $1 million and $10 million in debt owed to approximately 1–49 creditors. A meeting of creditors under Section 341(a) to be held on July 6, 2026 at 02:45 PM as Telephonic Meeting. Dial-in Number: 888-330-1716 Participant Code: 1093908. For International Call Information Please Contact the Trustee. (202) 306-3815 About Blue Ivy, LLC Blue Ivy, LLC is a Massachusetts-based limited liability company engaged in business operations and investment activities. The company manages commercial interests and related assets. Blue Ivy, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-11363) on June 9, 2026. In its petition, the Debtor reported estimated assets of $1 million–$10 million and estimated liabilities of $1 million–$10 million. Honorable Bankruptcy Judge Janet E. Bostwick handles the case. The Debtor is represented by Conner B. Verreaux, Esq. of Murphy & King, P.C. BLUE STONE PROPERTIES: Seeks Chapter 11 Bankruptcy in New Jersey ---------------------------------------------------------------- On June 9, 2026, Blue Stone Properties LLC filed for Chapter 11 protection in the U.S. Bankruptcy Court for the District of New Jersey. According to court filings, the Debtor reports between $100,001 and $1,000,000 in debt owed to approximately 1–49 creditors. A meeting of creditors under 341(a) to be held on July 22, 2026 at 09:00 AM via Zoomgov-Steele: join.zoom.us Meeting ID 165 757 43293, Passcode 9344337778, or call 1-551-285-1373. Proofs of Claim must be filed by December 7, 2026, while the Chapter 11 Subchapter V Plan is due September 8, 2026. About Blue Stone Properties LLC Blue Stone Properties LLC is a real estate holding and management company engaged in the ownership, leasing, and administration of property assets. Blue Stone Properties LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-16652) on June 9, 2026. In its petition, the Debtor reported estimated assets of $100,001–$1,000,000 and estimated liabilities of $100,001–$1,000,000. Honorable Bankruptcy Judge Vincent F. Papalia handles the case. The Debtor is represented by John O'Boyle, Esq. of Norgaard O'Boyle. BLUEPRINT EAST: Richard Furtek Named Subchapter V Trustee --------------------------------------------------------- The U.S. Trustee for Regions 3 and 9 appointed Richard Furtek of Furtek & Associates, LLC as Subchapter V trustee for Blueprint East LLC. Mr. Furtek will be paid an hourly fee of $325 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Furtek declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Richard E. Furtek Furtek & Associates, LLC Lindenwood Corporate Center 101 Lindenwood Drive, Suite 225 Malvern, PA 19355 Phone: (215) 768-8030 Email: rfurtek@furtekassociates.com About Blueprint East LLC Blueprint East LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Pa. Case No. 26-12386) on June 1, 2026, with $500,001 to $1 million in assets and $100,001 to $500,000 in liabilities. Judge Derek J. Baker presides over the case. Roger V. Ashodian, Esq., at Regional Bankruptcy Center of Southeastern PA, P.C., represents the Debtor as legal counsel. BRANAVA INC: Gets Final OK to Use Cash Collateral ------------------------------------------------- Branava Inc. received final approval from the U.S. Bankruptcy Court for the District of Massachusetts to use cash collateral. The court authorized the Debtor to use cash collateral through the effective date of its Chapter 11 plan. The secured creditors with interest in the cash collateral are the U.S. Small Business Administration, Cadence Bank, and Idea 247, Inc., which, as of the petition date, assert claims of $150,000, $60,000, and $90,000, respectively. These creditors a security interest in the Debtor's personal property. The order is available at http://bankrupt.com/misc/BranavaInc_FCCOrder.pdf About Branava Inc. Branava Inc. filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. D. Mass. Case No. 26-40063) on January 22, 2026, listing under $1 million in both assets and liabilities. Stephen Darr of Huron Consulting Group serves as Subchapter V trustee. The Debtor is represented by Christopher L. Murray, Esq., at Murray Law Firm, P.C. BRANAVA INC: Unsecureds Will Get 3.72% of Claims over 5 Years ------------------------------------------------------------- Branava, Inc. filed with the U.S. Bankruptcy Court for the District of Massachusetts a Small Business Plan of Reorganization under Subchapter V dated June 2, 2026. The Debtor operates a full-service hair salon called Bella Mia Hair Salon in Billerica which opened in 2005 and now has eight employees, including its principal, Michele Nordengren, who manages daily operations while also servicing clients. The Debtor is a Massachusetts S-corporation. Nordengren holds 100% of the issued and outstanding shares of the corporation. Nordengren serves as President, Treasurer, and Secretary of the corporation, and is a member of the Board of Directors. Joseph Nordengren, her husband, also serves as a member of the Board of Directors. As the Debtor's primary operations involve running a hair salon, the Debtor's operations were severely impacted by the COVID-19 pandemic beginning in early 2020. Due to the mandated lockdowns, the Debtor was forced to temporarily close for an extended period, resulting in a substantial loss of revenue. In order to survive the shutdown, the Debtor was forced to take on debt to meet ongoing business expenses as it had no other sources of revenue. In or about September 2025, the Debtor's inability to maintain payments precipitated enforcement action by Idea247, Inc. (a secured creditor), which filed a Motion for Trustee Process seeking attachment of funds in the Debtor's operating account. This attachment deprived the Debtor of access to operating funds necessary to pay essential post-petition expenses, including rent, payroll, supplies, and utilities, thereby rendering continued operations difficult, which led the Debtor to file this case and attempt to reorganize. The total for filed, scheduled, and expected general unsecured claims against the Debtor is approximately $376,520.80, including the loan deficiency on U.S. Small Business Administration's bifurcated claim, the estimated capped claim amount of the rejected lease of Lincoln Automotive Financial Services, and the claims of the other creditors that are being treated as unsecured based upon the value of their collateral. The Plan proposes to pay Allowed Claims of creditors of the Debtor as set forth in Article VII of the Plan. The Plan is for a period of five years. Class 3 consists of General Unsecured Claims and Undersecured Claims. In full and complete satisfaction, settlement, release and discharge of the Class 3 Claims, each holder of the Allowed Class 3 Claim shall receive payment equal to a pro rata share of the cash distribution from the Debtor's Disposable Income at no less than 3.72% percent of their allowed claim over five years. All payments to general unsecured claims will commence after the Administrative Claims have been paid in full with quarterly payments being made in the amount of $1,920.99 to each General Unsecured Creditor's pro rata share of the allowed claims. Any distribution to General Unsecured Creditors will be from amounts remaining from the Disposable Income, if any, after payment of: (i) the expenses of administering the Estate (to the extent of such additional expenses, before or after the Effective Date, not already included in the estimate for Administrative Expense Claims, (ii) the Administrative Expenses Claims, (iii) the Priority Tax Claims, (iv) the Other Priority Claims, and (v) any other payment receiving priority or administrative expense treatment. Class 3 is impaired under the Plan. The holders of Class 4 Interests shall be subordinated to the claims of all other Creditors and receive no dividend herein. Upon Confirmation, all rights of an equity holder will revest in the holders of Class 4 Interests. This Plan will be funded with available cash or working capital, and cash flow from ongoing business operations. The Debtor will continue to operate in the ordinary course of business. Pursuant to Section 1190(2) of the Bankruptcy Code, the Plan provides for the submission of all or such portion of the future earnings of the Debtor as is necessary for the execution of the Plan. A full-text copy of the Plan of Reorganization dated June 2, 2026 is available at https://urlcurt.com/u?l=RjIYpW from PacerMonitor.com at no charge. Counsel to the Debtor: Christopher L. Murray, Esq. MURRAY LAW FIRM, P.C. 246 Walnut Street, Suite 102 Newton, MA 02460 Telephone: (978) 579-9800 E-mail: Chris@danielmurraylaw.com About Branava Inc. Branava Inc. operates a full-service hair salon called Bella Mia Hair Salon in Billerica which opened in 2005. The Debtor filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. D. Mass. Case No. 26-40063) on January 22, 2026, listing under $1 million in both assets and liabilities. Stephen Darr of Huron Consulting Group serves as Subchapter V trustee. The Debtor is represented by Christopher L. Murray, Esq., at Murray Law Firm, P.C. BROADWAY LEARNING: Gets Interim OK to Use Cash Collateral --------------------------------------------------------- The U.S. Bankruptcy Court for the Southern District of Texas granted Broadway Learning Center, LLC interim approval to continue using cash collateral. The order authorized the Debtor to use cash collateral for necessary ordinary-course business expenses in accordance with an approved budget through the final hearing. The Debtor projects total operational expenses of $97,800.00 for the period from May 22 to June 19. As adequate protection, the U.S. Small Business Administration, Celtic Bank, and the Brazoria County Tax Assessor will retain the same liens, security interests, and encumbrances in post-petition cash collateral and its proceeds as they held before the bankruptcy filing. The Debtor must also provide budget reconciliations and updated revenue and expense projections to lenders upon request. The court further required the Debtor to maintain insurance coverage on the lenders' collateral, provide copies of insurance policies if requested, keep collateral free from post-petition liens except certain permitted claims, and timely file all monthly operating reports. In addition, the Debtor must file a balance sheet showing current cash balances, receivables, and post-petition payables at least 24 hours before the final hearing. All rights of the lenders under their loan documents, applicable non-bankruptcy law, and the Bankruptcy Code were preserved. The court scheduled a final hearing on June 22. About Broadway Learning Center, LLC Broadway Learning Center, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 26-33621) with $10,000,001 to $50 million in assets and $10,000,001 to $50 million in laibilities. The petition was signed by Nathan Cole as authorized agent. Judge Hon. Jeffrey P Norman oversees the case. The Debtor is represented by: Thomas H Riske Carmody Macdonald P.C. Tel: 314-854-8600 Email: thr@carmodymacdonald.com BUTLER HEALTH: Moody's Reviews 'Ba1' Issuer Rating for Upgrade -------------------------------------------------------------- Moody's Ratings has placed Butler Health System's (BHS) (PA) Ba1 issuer and revenue ratings under review for upgrade; previously the outlook was stable. Moody's Ratings has also placed Excela Health System's (EHS) (PA) Baa3 issuer and revenue ratings under review for upgrade; previously the outlook was stable. Independence Health System (IHS), the parent organization of both entities, was formed following their merger in 2023. The debt of the Butler and Excela remain separately secured. IHS had $234 million of debt outstanding at fiscal year-end 2025. The review for upgrade follows the execution of a definitive agreement for IHS to join West Virginia University Health System (WVUHS, A2 stable), which Moody's anticipates would provide credit strengthening for the members of IHS upon closing. RATINGS RATIONALE / FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS The review will focus primarily on the likelihood of transaction completion, including the receipt of required regulatory approvals. IHS and WVUHS signed a definitive agreement on June 02, 2026 and expect to close the transaction in fall 2026, subject to approvals. Upon closing, IHS's five hospitals would be integrated into WVUHS's 25-hospital system. If completed as contemplated, the transaction would likely strengthen IHS's credit profile. The improvement would be driven in part by WVUHS's commitment to invest approximately $800 million in IHS, including funding for a new electronic medical record system, facility upgrades and expansions, and enhanced clinical capabilities to improve access and expand service offerings across the region. Additional anticipated benefits include the realization of operating efficiencies and access to shared resources within WVUHS. The current ratings continue to reflect execution risk, given the need for regulatory approvals and the possibility that the transaction does not close as planned. PROFILE Independence Health System, PA was established in January 2023, following the merger of Butler Health and Excela Health (PA). The system is comprised of five hospitals in Butler, Clarion, and Westmoreland counties, totaling 925-beds. IHS is the third largest healthcare system in western Pennsylvania. METHODOLOGY The principal methodology used in these ratings was Not-for-profit Healthcare published in May 2026. C & J STORM: Seeks to Hire J.M. Cook as General Bankruptcy Counsel ------------------------------------------------------------------ C & J Storm Repair Team, LLC seeks approval from the U.S. Bankruptcy Court for the Eastern District of North Carolina to employ J.M. Cook, PA as counsel. The firm will render these services: (a) prepare on behalf of the Debtor necessary legal papers necessary in its reorganization case; (b) assist the Debtor in evaluating the legal basis for, and effect of, the various pleadings that will be filed in the Chapter 11 case and other parties in interest; (c) perform all necessary legal services in connection with the Debtor's reorganization; (d) assist the Debtor in preparing the monthly operating reports and evaluating and negotiating its or any other party's Plan of Reorganization and any associated Disclosure Statement; (e) commence and prosecute any and all necessary and appropriate actions and/or proceedings on behalf of the Debtor; and (f) perform all other legal services for the Debtor which may be necessary and proper in these proceedings and in keeping with his fiduciary duty. The firm will be paid at an hourly rate of $300 for legal work and $175 for paralegal work. Prior to filing, the firm received a $10,000 retainer from a related party. J.M. Cook, Esq., disclosed in a court filing that his firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: J.M. Cook, Esq. J.M. Cook, PA 5886 Faringdon Place Suite 100 Raleigh, NC 27609 Telephone: (919) 675-2411 Facsimile: (919) 882-1719 Email: J.M.Cook@jmcookesq.com About C & J Storm Repair Team LLC C & J Storm Repair Team, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.C. Case No. 26-02324) on May 24, 2026, listing up to $500,000 in assets and up to $10 million in liabilities. The Debtor tapped J.M. Cook, PA as counsel. C & S ADKINS: Gets Interim OK to Use Cash Collateral ---------------------------------------------------- C & S Adkins Enterprises, Inc. received interim approval from the U.S. Bankruptcy for the to Southern District of Indiana to use cash collateral. Under the interim order, the Debtor may use cash collateral in accordance with its approved budget through the date of the final hearing. Spending in any budget category may not exceed budgeted amounts by more than 10%, and actual net cash flow must remain at least 90% of projected levels. Financial institutions and third-party payors are directed to release funds necessary for the Debtor's authorized use of cash collateral. As adequate protection, secured creditors are granted replacement liens on post-petition cash collateral and other post-petition property to the same extent and priority as their prepetition interests. The court preserved all parties' rights to dispute the validity, extent, priority, or perfection of liens at a later stage. The replacement liens automatically attach without the need for additional filings or documentation. The Debtor's authority to use cash collateral terminates upon an event of default, including conversion or dismissal of its Chapter 11 case, appointment of a trustee, failure to comply with the budget, or unauthorized payments. The Debtor must maintain insurance, operate in the ordinary course, and provide financial information as required. A final hearing is scheduled for June 22. Objections to final cash collateral authority are due by June 18. About C & S Adkins Enterprises, Inc. C & S Adkins Enterprises, Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Ind. Case No. 26-03473) with $500,001 to $1 million in assets and $500,001 to $1 million in laibilities. Judge Hon. Jeffrey J Graham oversees the case. The Debtor is represented by: KC Cohen Kc Cohen, Lawyer, PC Tel: 317-715-1845 Email: kc@esoft-legal.com CAMBER ENERGY: Viking Energy Inks Amalgamation Deal With T&T Power ------------------------------------------------------------------ Camber Energy, Inc. announced in a regulatory filing that Simson-Maxwell Ltd., a Canadian corporation and minority-owned subsidiary of Viking Energy Group, Inc., a wholly-owned subsidiary of the Company, entered into an Amalgamation Agreement with T&T Power Group Inc., a Canadian corporation. The transactions contemplated by the Amalgamation Agreement were completed on June 1, 2026 pursuant to Sections 181 and 182 of the Canada Business Corporations Act and Section 87 of the Income Tax Act (Canada). The amalgamated corporation continues under the name "T&T Power Group Inc.". The Amalgamated Corporation continues to operate Simson's former business of servicing, maintaining, repairing, renting, and testing of generators and industrial engines and providing power solutions to customers throughout Canada. As previously disclosed in the Company's Current Report on Form 8-K filed with the Securities and Exchange Commission on April 8, 2025, Viking's ownership interest in Simson was reduced from approximately 60.5% to 49% following T&T's acquisition of a 51% interest in Simson pursuant to that certain Share Subscription Agreement, dated April 1, 2025, by and among Viking, T&T, Simson, Remora EQ LP, and Simmax Corp. As a result, the Company ceased to consolidate Simson's financial results and instead accounted for its investment in Simson at fair value. Pursuant to the Amalgamation Agreement, the issued capital of T&T and Simson was converted into issued capital of the Amalgamated Corporation as follows: (i) all issued and outstanding shares in the capital stock of T&T were exchanged for 100,000 fully paid and non-assessable Class A Common Shares of the Amalgamated Corporation and issued to Tyler Van Dyke, the sole shareholder of T&T and the first director and President of the Amalgamated Corporation; (ii) 2,536 Class A Common Shares in the capital stock of Simson held by T&T were cancelled as of the date of Amalgamation; and (iii) 2,436 Class A Common Shares in the capital stock of Simson held by Viking were exchanged for 5,750,000 Class A Preference Shares of the Amalgamated Corporation. Following the Amalgamation, Tyler Van Dyke holds 100,000 Class A Common Shares of the Amalgamated Corporation, representing 100% of the voting interest, and Viking holds 5,750,000 Class A Preference Shares of the Amalgamated Corporation, representing 0% of the voting interest. Unanimous Shareholders Agreement In connection with the Amalgamation, on June 1, 2026, Viking, the Amalgamated Corporation, and Tyler Van Dyke entered into a unanimous shareholders' agreement within the meaning of the CBCA. Pursuant to the USA, Tyler Van Dyke has been appointed as the sole director of the board of directors of Amalgamated Corporation, and Viking has no right to appoint a director. The USA also contains the detailed terms governing the redemption and retraction of the Viking Preferred Shares, including the pricing mechanics, triggering events, payment timelines, monthly payment rights, conditional dividend provisions, and potential adjustments described under "Redemption, Retraction, and Other Rights of the Viking Preferred Shares." Redemption, Retraction, and Other Rights of the Viking Preferred Shares The Viking Preferred Shares are subject to the following redemption and retraction rights, as set forth in the USA. To the extent any provision of the articles of amalgamation of the Amalgamated Corporation conflicts with the USA, the USA prevails. Redemption by the Corporation. The Amalgamated Corporation may redeem all outstanding Viking Preferred Shares at any time: (i) on or before March 31, 2028, at CDN$5,750,000 in the aggregate (approximately US$4,154,000 based on the CAD/USD exchange rate as of June 1, 2026, with 10% payable on the redemption date and the balance within 60 days; or (ii) after March 31, 2028, at CDN$7,750,000 in the aggregate (approximately US$5,599,000, the "Increased Redemption Price"). If the Amalgamated Corporation fails to redeem all Viking Preferred Shares by March 31, 2028, the aggregate redemption price automatically increases the Increased Redemption Price. Retraction by Viking. Prior to March 31, 2028, Viking may require redemption of all outstanding Viking Preferred Shares at the Redemption Price only upon the occurrence of specified triggering events, including: (a) a material breach by any party (other than Viking) of the USA that continues for 20 days following written notice; (b) a sale or proposed sale of all or substantially all of the Amalgamated Corporation's assets; (c) the bankruptcy or insolvency of the Amalgamated Corporation; or (d) the death or permanent incapacity of Tyler Van Dyke. After March 31, 2028, Viking may require redemption for any reason at the Increased Redemption Price, together with all accrued but unpaid dividends. Upon receipt of a retraction notice after March 31, 2028, the Amalgamated Corporation shall either: (x) pay CDN$7,750,000 (approximately US$5,599,000) within 120 days; or (y) pay CDN$8,520,000 (approximately US$6,155,000) plus all accrued but unpaid dividends within 12 months (the "Deferred Redemption Price"). Liquidation Preference. The Viking Preferred Shares rank in priority to all other classes of shares with respect to dividends, redemption, retraction, return of capital, liquidation, and winding-up. The Amalgamated Corporation shall not issue any shares or securities ranking senior to the Viking Preferred Shares while any remain outstanding. Dividend Restrictions. No dividends may be declared or paid on any other class of shares while Viking Preferred Shares remain outstanding, except that the Viking Preferred Shares carry a conditional cumulative dividend of 8% per annum, which accrues only if: (i) any party other than Viking breaches any term applicable to the Viking Preferred Shares; or (ii) the Amalgamated Corporation fails to redeem the Viking Preferred Shares by March 31, 2028. Monthly Payment Right. Viking may, upon 30 days' prior written notice, require the Amalgamated Corporation to pay Viking CDN$15,000 (approximately US$11,000) per month, with all such payments credited against the applicable redemption price upon final redemption. Postponement Agreement In connection with the Amalgamation, on June 1, 2026, Viking, the Amalgamated Corporation, and The Toronto-Dominion Bank entered into a Postponement and Assignment of Creditors Claim and Postponement of Security Agreement. Pursuant to the Postponement Agreement, Viking agreed to postpone all creditor indebtedness owed by the Amalgamated Corporation to Viking in favor of the prior repayment of the Bank's indebtedness, including amounts arising from retraction, redemption, or purchase for cancellation of the Viking Preferred Shares, dividends, distributions, and shareholder loans. Subject to certain conditions, including that no event of default has occurred, the Amalgamated Corporation is in compliance with all financial covenants, and Viking provides the Bank with not less than 60 days' prior written notice, Viking's retraction right is not restricted by the Postponement Agreement. The Postponement Agreement also permits regularly scheduled share distributions (including monthly payments) up to CDN$180,000 (approximately US$129,000) in any 12-month period, subject to similar financial covenant compliance conditions. Full text copies of the Amalgamation Agreement are available at https://tinyurl.com/mrpkr3st, https://tinyurl.com/vx3z97p5 and https://tinyurl.com/232av2y4, respectively. About Camber Energy Camber Energy, Inc. is a growth-oriented diversified Company with interests in innovative, industry-changing or industry-leading technologies, as well as an interest in a Company that provides custom energy and power solutions to commercial and industrial clients in North America. Its existing portfolio of innovative technologies includes: (i) a majority interest in an entity with intellectual property rights to a fully developed, patented, proprietary medical and bio-hazard waste treatment system using ozone technology; and (ii) a majority interest in entities with the intellectual property rights to fully developed, patented and patent pending, proprietary electric transmission and distribution broken conductor protection systems, and a license to a patented clean energy and carbon-capture system with exclusivity in Canada and for multiple locations in the United States. Dallas, Texas-based Turner, Stone & Company, L.L.P., the Company's auditor since 2019, issued a "going concern" qualification in its report dated March 30, 2026, citing that the Company expects to continue incurring operating losses and generating negative cash flows from operations for the foreseeable future. Additionally, the Company has a significant working capital deficiency, accumulated deficit and net loss for the year. These conditions raise substantial doubt about its ability to continue as a going concern. As of March 31, 2026, the Company had $30.09 million in total assets, $75.18 million in total liabilities, and $45.09 million in total stockholders' deficit. CAN TRAIL: Gets Final OK to Use Cash Collateral ----------------------------------------------- Can Trail Transportation, LLC received final approval from the U.S. Bankruptcy Court for the Central District of California, Riverside Division to use cash collateral. The court issued a final order approving the Debtor's use of cash collateral through Feb. 28, 2027, in accordance with its operating budget, subject to a 5% variance per line item per month. The court also modified the adequate protection provisions, ordering that Citizens Business Bank receive total monthly payments of $4,000, covering four specified loan accounts while all other secured creditor payments remain unchanged under the budget. As an additional condition for continued use of cash collateral, the Debtor must make monthly payments of $476.97 to BayFirst National Bank, N.A. These payments are due on the 24th day of each month along with all other adequate protection payments outlined in the Debtor's prior motion. The court further granted post-petition replacement liens to BayFirst, eCapital Freight Factoring Corp., Northeast Bank, Fora Financial, and Flexibility Capital Inc. The replacement liens apply to all post-petition estate property and protect the lenders against any decline in the value of their cash collateral interests caused by the Debtor's authorized use of that collateral. The order is available at http://bankrupt.com/misc/CanTrail_FCCOrder.pdf About Can Trail Transportation L.L.C. Can Trail Transportation L.L.C. provides freight transportation services including dry and refrigerated local and intermodal over-the-road shipments, with a focus on cargo originating from the Los Angeles and Long Beach ports. The company serves clients across sectors such as B2B commercial, construction, and hazardous materials, offering LTL pick-up and tailored logistics solutions. Can Trail emphasizes reliability, safety, and customer satisfaction, leveraging experienced drivers, industry expertise, and a culture of continuous improvement to support efficient and dependable freight operations. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Cal. Case No. 26-11496) on March 1, 2026. In the petition signed by Derrick Lee Cantrell, managing member, the Debtor disclosed $272,546 in assets and $1,740,024 in liabilities. Judge Scott H. Yun oversees the case. Keving Tang, Esq., at Tang & Associates, represents the Debtor as legal counsel. CEDAR ARCH: Hires Williams Meservy & Larsen as Special Counsel -------------------------------------------------------------- Cedar Arch Diaries, LLC seeks approval from the U.S. Bankruptcy Court for the District of Idaho to employ Williams, Meservy & Larsen LLP as special counsel. The firm will assist to resolve an issue that has arisen with respect to one of the Debtor's county-issued permits. The firm's professionals will be paid at these hourly rates: Robert Williams, Of Counsel $350 Theodore Larsen, Partner $300 Paul Hendrickson, Attorney $300 Brian Williams, Partner $300 Kimberly Williams, Partner $300 James Meservy, Of Counsel $300 Brandon Heiss, Partner $275 In addition, the firm will seek reimbursement for expenses incurred. Mr. Larsen disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Theodore R. Larsen, Esq. Williams, Meservy & Larsen LLP 153 East Main Street, Post Office Box 168 Jerome, ID 83338 Telephone: (208) 324-2303 Facsimile: (208) 324-3135 Email: trlarsen@wmlattys.com About Cedar Arch Diaries LLC Cedar Arch Diaries, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Idaho Case No. 26-40154) on Mar. 23, 2026, listing up to $50 million in both assets and liabilities. Judge Noah G. Hillen oversees the case. The Debtor tapped Matthew W. Grimshaw, Esq., at Grimshaw Law Group, PC as bankruptcy counsel and Theodore R. Larsen, Esq., at Williams, Meservy & Larsen LLP as special counsel. CES MAIL: Gets Extension to Access Cash Collateral -------------------------------------------------- CES Mail Communications, Inc. received another extension from the U.S. Bankruptcy Court for the Eastern District of North Carolina, Raleigh Division, to use cash collateral. The court entered an interim order approving the Debtor's continued use of cash collateral to fund its operations in accordance with its budget. The Debtor may spend as much as 10% more if needed. The Debtor's access to cash collateral ends upon cessation of business operations or upon default or noncompliance with the interim order. The Debtor identifies two potentially secured creditors based on UCC financing statements filed with the North Carolina Secretary of State: Bank of Oak Ridge and Corporation Service Company as representative for an unnamed creditor. To protect the interests of any potential secured creditor, CES Mail offers a replacement lien on post-petition assets to the extent cash collateral is used. The order is available at https://shorturl.at/g9mDB The next hearing will be held on June 25. About CES Mail Communications Inc. CES Mail Communications, Inc. provides direct mail and data processing services, including data management, fulfillment, sample production, variable data printing, warehousing and mailing support. The Raleigh, North Carolina-based company serves customers seeking mass mailing, direct mail advertising and related communications services. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. N.C. Case No. 26-02033) on May 4, 2026, with up to $500,000 in assets and up to $10 million in liabilities. Mory A. Read, president, signed the petition. Judge Pamela W. McAfee oversees the case. William P. Janvier, Esq., at Stevens Martin Vaughn & Tadych, PLLC, represents the Debtor as legal counsel. CHARLOTTE BUYER: Moody's Rates Amended Bank Facilities 'B3' ----------------------------------------------------------- Moody's Ratings affirmed Charlotte Buyer, Inc.'s (Charlotte Buyer, d/b/a Gentiva) B3 Corporate Family Rating and B3-PD Probability of Default Rating. At the same time, Moody's assigned B3 ratings to the proposed amended credit facility consisting of a $1.96 billion senior secured first lien term loan and a $600 million senior secured first lien revolving credit facility, both due in 2031. The outlook remains stable. The proceeds from the amended senior secured first lien term loan along with additional senior secured debt to be raised subsequently, will be used to pay down all outstanding balance on the existing secured first lien and second lien credit facilities. There is no change to the B3 rating of the company's existing senior secured first lien credit facilities and Caa2 rating of the existing second lien term loan. The affirmation of the CFR and PDR reflects Moody's views that the company will operate with low-to-mid 7.0 times debt/EBITDA over the next 12-18 months. Assuming that the proposed transaction closes as planned, it will address near-term maturity of the existing debt, including the August 2027 maturity of the existing revolver. RATINGS RATIONALE Charlotte Buyer's B3 CFR reflects the company's very high financial leverage and heavy exposure to Medicare. The company's almost entire business portfolio is focused on hospice services, which is largely funded by Medicare. The hospice industry is highly fragmented and there is considerable competition from players of varying sizes. Partially offsetting some of these constraints, the company's ratings benefit from a geographically well-diversified business footprint in 36 states. In addition, the hospice industry has favorable long-term growth prospects driven by aging demographics. Moody's expects that Charlotte Buyer will maintain adequate liquidity over the next 12 months. The company will generate modestly positive free cash flow over the next 12 months. The company had approximately $3.5 million in unrestricted cash on its balance sheet at the end of March 31, 2026. The company had approximately $89 million in restricted cash which could only be used for certain hospice operations managed in Florida. Charlotte Buyer maintains minimal cash and relies on Medicare reimbursement through claims processing and Medicare Periodic Interim Payments (PIP) along with revolver access for its liquidity needs. When the proposed transaction closes, the company will have access to an undrawn $600 million revolving credit facility. The amended $600 million senior secured first lien revolving credit facility, amended $1.96 billion senior secured term loan, both due in 2031, are rated B3. These instruments are rated at the same level as the company's Corporate Family Rating reflecting the preponderance of the first lien debt in the company's capital structure. A comprehensive review of all credit ratings for the respective issuer(s) has been conducted during a rating committee. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS The ratings could be downgraded if the company's operating performance deteriorates, liquidity weakens, or if regulatory changes result in significant reimbursement rate cuts. Further, debt-funded shareholder distributions, large acquisitions or other aggressive financial policies could also result in a downgrade. The ratings could be upgraded if the company effectively manages its growth with prudent financial policies and demonstrates a track record of positive free cash flow generation. Increased scale and business line diversity could also support an upgrade. Further, the ratings could be upgraded if adjusted debt to EBITDA is sustained below 6.0 times. Headquartered in Atlanta, GA, Charlotte Buyer, Inc. (d/b/a "Gentiva") is a leading hospice provider in the US At the end of 2025, the company provided services in 476 locations in 36 states. Revenue was $2.1 billion for the twelve months ended March 31, 2026. Charlotte Buyer is majority-owned by private equity sponsor Clayton, Dubilier & Rice (CD&R) and Humana Inc. 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. CHEESE SHOP: Seeks to Hire Hendren Redwine & Malone as Counsel -------------------------------------------------------------- The Cheese Shop LLC seeks approval from the U.S. Bankruptcy Court for the Middle District of North Carolina to employ Hendren, Redwine & Malone, PLLC to handle its Chapter 11 case. The firm holds remaining retainer of $14,552.50 from the Debtor. Jason Hendren, Esq., an attorney at Hendren, Redwine & Malone, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Jason L. Hendren, Esq. Hendren, Redwine & Malone, PLLC 4600 Marriott Drive, Suite 150 Raleigh, NC 27612 Telephone: (919) 573-1422 Facsimile: (919) 420-0475 Email: jhendren@hendrenmalone.com About The Cheese Shop LLC The Cheese Shop LLC, doing business as Wedgewood Cheese Bar, operates a cheese bar and cheese and wine shop in Carrboro, North Carolina. It offers cheese-forward food service, cheese boards, wine and other beverages, catering and private dining, events and classes, gift cards, and a food-focused blog. The Cheese Shop sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D.N.C. Case No. 26-80175) on May 29, 2026, with $100,001 to $500,000 in assets and $1 million to $10 million in liabilities. Judge Benjamin A. Kahn presides over the case. Jason L. Hendren, Esq., at Hendren, Redwine & Malone, PLLC represents the Debtor as counsel. CIMG INC: Increases Authorized Common Shares to 5 Billion --------------------------------------------------------- CIMG Inc. announced in a regulatory filing that it filed a Certificate of Amendment to its Articles of Incorporation with the Nevada Secretary of State to increase the number of authorized shares of the Company's common stock. The amendment increased the Company's authorized shares of common stock from 2,000,000,000 shares to 5,000,000,000 shares, par value $0.00001 per share. The increase in authorized shares was previously approved by the Company's board of directors and by the holders of a majority of the Company's outstanding voting power through written consent on April 14, 2026. In connection with the stockholder action by written consent, the Company filed an Information Statement on Schedule 14C with the Securities and Exchange Commission on April 30, 2026, describing the authorized share increase and related matters. A full text copy of the Certificate of Amendment is available at https://tinyurl.com/5n7fb6hb About CIMG Inc. CIMG is a business group specializing in digital health and sales development, with a cryptocurrency-focused strategy. The Company leverages AI and cryptocurrencies (such as Bitcoin and stablecoins) to drive business growth, helping clients maximize user growth and enhance brand management value. The Company's current client portfolio includes brands such as Kangduoyuan, Maca-Noni, Qianmao, Huomao, and Coco-mango. Singapore-based Assentsure PAC, the Company's auditor since 2025, issued a "going concern" qualification in its report dated February 13, 2026, attached to the Company's Annual Report on Form 10-K for the fiscal year ended September 30, 2025, citing that the Company has experienced recurring losses from operations and negative working capital, which raises substantial doubt about its ability to continue as a going concern. As of March 31, 2026, the Company had $53.2 million in total assets, $12.1 million in total liabilities, and $41.1 million in total stockholders' equity. CITIUS PHARMACEUTICALS: Holds 71% Equity Stake in Citius Oncology ----------------------------------------------------------------- Citius Pharmaceuticals, Inc., disclosed in a Schedule 13D (Amendment No. 15) filed with the U.S. Securities and Exchange Commission that as of May 15, 2026, it beneficially owns 66,049,615 shares of Citius Oncology, Inc.'s Common Shares, $0.0001 par value per share, representing 71.0% of the 92,981,204 shares of common stock outstanding as of May 14, 2026. The decrease in the Citius' ownership percentage since the prior amendment resulted solely from increases in the Citius Oncology's outstanding shares (dilution) and not from any acquisition or disposition of shares by Citius Pharmaceuticals, Inc. In a Form 8-K filed May 6, 2026, Citius Oncology disclosed the immediate exercise of warrants for 12,777,778 shares and issuance of replacement warrants. Such shares are held in abeyance by the transfer agent due to a 9.99% beneficial ownership limitation and are therefore not included in the outstanding share count used for the percentage calculation.) Citius Pharmaceuticals, Inc. may be reached through: Leonard Mazur, Chief Executive Officer 11 Commerce Drive, 1st Floor Cranford, NJ 07016 Tel: (908) 967-6677 A full-text copy of Citius Pharmaceuticals, Inc.'s SEC report is available at: https://tinyurl.com/23czm329 About Citius Pharmaceuticals Headquartered in Cranford, N.J., Citius Pharmaceuticals, Inc., is a biopharmaceutical company dedicated to the development and commercialization of first-in-class critical care products. The Company's goal generally is to achieve leading market positions by providing therapeutic products that address unmet medical needs yet have a lower development risk than usually is associated with new chemical entities. New formulations of previously approved drugs with substantial existing safety and efficacy data are a core focus. The Company seeks to reduce development and clinical risks associated with drug development yet still focus on innovative applications. Boston, Massachusetts-based Wolf & Company, P.C., the Company's auditor since 2014, issued a "going concern" qualification in its report dated December 23, 2025, attached to the Company's Annual Report on Form 10-K for the fiscal year ended September 30, 2025. The auditor cited that the Company has suffered recurring losses and has a working capital deficit as of September 30, 2025. These conditions raise substantial doubt about the Company's ability to continue as a going concern. As of December 31, 2025, the Company had $140.39 million in total assets, $46.92 million in total liabilities, and $93.47 million in total equity. CLEAN ENERGY: Secures $260,000 Loan From Agile Capital ------------------------------------------------------ Clean Energy Technologies, Inc. borrowed about $260,000 from Agile Capital Funding, LLC under a short-term secured cash advance loan, according to a Form 8-K filing with the Securities and Exchange Commission. The Irvine, Calif.-based company said the loan agreement and subordinated secured promissory note were dated May 27. About $389,740 is due to Agile under the arrangement. Clean Energy said the amount is amortizing and is to be repaid over about 32 weeks. About Clean Energy Clean Energy Technologies, Inc. is an Irvine, California-based company that designs, produces, and markets clean energy products and integrated solutions focused on energy efficiency and renewable energy. The company provides turnkey energy solutions, including power generation, heat recovery, waste-to-energy, engineering, consulting, and project management services. Its solutions include waste heat recovery using its Clean Cycle generator and conversion of waste products into electricity, renewable natural gas, hydrogen, and biochar. The company serves small and midsize projects across North America, Europe, and ASEAN markets, including municipal, industrial, engineering, and project development customers. In its audit report dated June 4, 2026, TAAD, LLP expressed substantial doubt about the company's ability to continue as a going concern, referring to Note 1 to the financial statements, where the company disclosed a $35.3 million accumulated deficit, a $6.8 million net loss and $7.9 million in cash used in operating activities for 2025. The company said management's plans to alleviate the conditions include obtaining additional debt and equity financing, including efforts to restructure certain existing debt obligations through capital-raising activities in the equity markets. As of Dec. 31, 2025, the company had $12.41 million in total assets, $6.17 million in total liabilities, and $6.25 million in total stockholders' equity. CLEANSTEAM INC: Unsecured Creditors to Split $8K in Plan -------------------------------------------------------- Cleansteam, Inc., filed with the U.S. Bankruptcy Court for the Central District of California a Subchapter V Plan of Reorganization dated June 1, 2026. Before this bankruptcy case was filed, the Debtor provides commercial dry cleaning and laundry services and will continue to provide the service at 44260 10th Street West, Lancaster CA 93534, under the same management. Mohammad Monirul Islam is the sole officer and director of Cleansteam, Inc. He has overall responsibility for the Debtor's business operations, customer relationships, vendor management, and financial decision-making. The Debtor's revenues declined sharply as a result of the COVID-19 pandemic. To bridge the resulting cash shortfall, the Debtor obtained a U.S. Small Business Administration Economic Injury Disaster Loan, which was modified twice to reach a principal balance of approximately $769,400. Although the Debtor's operations have partially recovered, revenues have not returned to pre-pandemic levels, and the SBA loan obligations exceed the Debtor's monthly cash flow capacity. The Debtor filed this Subchapter V case primarily to restructure the SBA loan, address its remaining unsecured obligations, and continue operating as a going concern. The Debtor anticipates that the restructuring of the SBA secured claim to the going-concern collateral value of $108,749.62 (with the deficiency reclassified to general unsecured) will materially reduce monthly debt service obligations and restore positive cash flow. Projected operations during the Plan term are expected to generate sufficient cash to fund all Plan payments and maintain ongoing business operations. The Debtor's continued operation as a going concern provides the maximum recovery to creditors. The fair market value of all property of the estate is $108,749.62. Total liabilities are $ 924,569.85. Class #2b consists of General Unsecured Claims. Each member of Class #2b will be paid a pro rata share of a fund totaling $7,983.92, created by the Debtor's payment: * Pro rata means the entire fund amount divided by the total of all allowed claims in this class. * Payment amount is $133.07 per month. * Payments will begin on the first day of month following Effective Date. A full-text copy of the Subchapter V Plan dated June 1, 2026 is available at https://urlcurt.com/u?l=agQDwv from PacerMonitor.com at no charge. Counsel to the Debtor: Kevin Tang, Esq. Tang & Associates 17011 Beach Blvd., Ste. 900 Huntington Beach, CA 92647 Telephone: (714) 594-7022 Facsimile: (714) 594-7024 Email: kevin@tang-associates.com About Cleansteam Inc. Cleansteam, Inc. provides commercial dry cleaning and laundry services business at 44260 10th Street West, Lancaster CA 93534. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Cal. Case No. 26-11973) on March 3, 2026. In the petition signed by Mohammad Monirul Islam, managing member, the Debtor disclosed up to $500,000 in assets and up to $1 million in liabilities. Judge Vincent P. Zurzolo oversees the case. Kevin Tang, at Tang & Associates, is the Debtor's counsel. COMPANDSAVE.COM INC: Unsecured Creditors to Get 18 Cents on Dollar ------------------------------------------------------------------ CompAndSave.com, Inc. filed with the U.S. Bankruptcy Court for the Northern District of California a Small Business Plan of Reorganization under Subchapter V dated June 1, 2026. The Debtor is a corporation. Since 2013, the Debtor has been in the business of reselling printer ink cartridges. The Debtor's original location became too large and too expensive, so the Debtor moved to smaller location. The Debtor ran into financial difficulties when the former landlord demanded full payment of the balance due under the lease. The Debtor filed this case to limit the amount of damages it had to pay under the former lease, and to allow it to put its past debts behind it and to move forward. The Debtor's current income is sufficient to pay its current expenses, but does not allow it to pay in full all pre-petition creditors. The Debtor's financial projections show that the Debtor will have projected disposable income of $206,458.35. The final Plan payment is expected to be paid on January 31, 2031, which is anticipated to be 60 months after the effective date. Non-priority unsecured creditors holding allowed claims will receive distributions, which the proponent of this Plan has valued at approximately 18 cents on the dollar, consistent with the liquidation analysis in Exhibit A and projected disposable income in Exhibit B. This Plan also provides for the payment of administrative and priority claims. Class 3A consists of Non-priority Unsecured Small Claims. The unsecured claim of Chase Bank in the amount of $1,154.92 will be paid in full on Effective date. This Class is unimpaired. Class 3B consists of Non-priority General Unsecured Claims. Creditors will receive a pro-rata distribution of $10,322.92 per quarter for beginning 30 days after the end of the first quarter after the Effective Date and continuing for approximately 20 quarters. This Class is impaired. The allowed unsecured claims total $1,137,730.64. Class 4 consists of Equity Security Holders. Tak Shing Yeung will retain his ownership interest in the Debtor and will receive his monthly salary. He will not receive any other distributions unless or until all Plan Payments have been completed. The Debtor will accumulate the net income after payment of business expenses as described in the attached projections, and distribute a pro-rata share of $10,332.92 on a quarterly basis, beginning the end of the month following the first quarter after the Effective Date and continuing for 14 quarters until the creditors have received a total of not less than $205,919.05, which the Debtor estimates to be 18% of the allowed amount of their claim. A full-text copy of the Subchapter V Plan dated June 1, 2026 is available at https://urlcurt.com/u?l=1wskGr from PacerMonitor.com at no charge. About CompAndSave.com Inc. CompAndSave.com, Inc. has been in the business of reselling printer ink cartridges since 2013. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Cal. Case No. 26-40418) on March 1, 2026. At the time of the filing, the Debtor reported up to $50,000 in assets and between $500,001 and $1 million in liabilities. CONCORDIA INVESTMENT: Seeks Chapter 11 Bankruptcy in Florida ------------------------------------------------------------ On June 9, 2026, Concordia Investment Partners, LLC filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Middle District of Florida. According to court filings, the Debtor reports between $1 million and $10 million in debt owed to between 1 and 49 creditors. A meeting of creditors under Section 341(a) to be held on July 22, 2026 at 01:30 PM. U.S. Trustee (Peair) will hold the meeting telephonically. Call in Number:888-330-1716. Passcode: 7645123#. Debtor must submit its Chapter 11 Plan and accompanying Disclosure Statement on or before October 7, 2026. About Concordia Investment Partners, LLC Concordia Investment Partners, LLC is an investment and asset management company engaged in acquiring, managing, and overseeing a portfolio of financial and business investments. Concordia Investment Partners, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-04926) on June 9, 2026. In its petition, the Debtor reports estimated assets between $1 million and $10 million and estimated liabilities between $1 million and $10 million. The Debtor is represented by Glenn D. Moses, Esq. of Venable LLP. CONLIN STREET: Seeks Approval to Tap NAI Rampart as Leasing Agent ----------------------------------------------------------------- Conlin Street LLC seeks approval from the U.S. Bankruptcy Court for the Eastern District of Louisiana to employ Rampart/Wurth Holding, Inc., doing business as NAI Rampart, as leasing agent. The Debtor needs an agent to market and lease its property located at 4420 Conlin Street, Metairie, Louisiana. The firm will receive a commission of 4 percent if there is no cooperating broker participating and 6 percent if there is a cooperating broker. The firm represents no interest adverse to the Debtor or to the estate on the matters upon which it is to be engaged. The firm can be reached at: NAI Rampart 110 Veterans Memorial Blvd., Suite 250 Metairie, LA 70005 Telephone: (504) 569-9300 About Conlin Street LLC Conlin Street LLC is a limited liability company that may be engaged in real estate ownership, property management, or related investment activities. Conlin Street LLC sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. La. Case No. 26-10831) 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. The Debtor is represented by Leo D. Congeni, Esq., at Brooks Gelpi Haase, LLC. Ryan James serves as Subchapter V Trustee. CONSEJO DE TITULARES: Hires Monge Robertin Advisors as Advisor -------------------------------------------------------------- Consejo De Titulares Del Cond Touchvision Plaza seeks approval from the U.S. Bankruptcy Court for the District of Puerto Rico to employ Monge Robertin Advisors, LLC as insolvency and restructuring advisors. The firm's services include: a. restructuring b. accounting, tax and financing advisory services to a client. The firm will be paid at these rates: Jose M Monge Robertin, CPA, CIRA $275 per hour Maria P ena, MST, CIRA-Tax Reorganization Partner $175 per hour Brenda Ortiz, MBA, MST, CPNL-Accountant $125 per hour Accountants $55 per hour Assistant Accountant or Support Staff $45 per hour A deposit of $5,000 has been paid to the firm. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Jose M Monge Robertin, 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: Jose M. Monge Robertin, CPA, CIRA Monge Robertin Advisors, LLC Innova Building, 16 Innovacion Ave, Valle Tolima Caguas, PR 00725 Telephone: (787) 745-0707 Direct Phone: (787) 305-1121 Cellphone: (787) 410-1107 Email: cpamonge@cirapr.com About Consejo de Titulares del Condominio Consejo de Titulares del Condominio Touchvision Plaza sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Puerto Rico Case No. 26-02205) on May 14, 2026, with $0 to $50,000 in assets and $100,001 to $500,000 in liabilities. Nelson Robles Diaz, Esq. at Nelson Robles Diaz Law Offices Psc represents the Debtor as bankruptcy counsel. CONSEJO DE TITULARES: Hires Nelson Robles-Diaz as Counsel --------------------------------------------------------- Consejo De Titulares Del Cond Touchvision Plaza seeks approval from the U.S. Bankruptcy Court for the District of Puerto Rico to employ Nelson Robles-Diaz as counsel. The firm's services include: a. prosecuting the motions and applications filed; b. advising/ representing the Debtor with respect to its duties, rights and powers; c. advising/representing the Debtor in negotiations with creditors; d. advising/representing the Debtor in analyzing the claims; e. advising/representing the Debtor with respect to its various investigations of claims, causes of action and other matters; f. advising/representing the Debtor with respect to any negotiations and litigation that may be necessary, and at hearing and other proceedings; g. advising/representing the Debtor with respect to pleadings and applications as may be necessary in furtherance of Debtor's interests and objectives; and h. advising/representing the Debtor with respect to such other matters as may be required and are deemed to be in the interests of the Debtor in accordance with the applicable law. The firm will be paid at these rates: Nelson Robles-Diaz $300 per hour Paralegals and law clerks $60 to 80 per hour The firm was paid a retainer in the amount of $9,000 upon execution of the engagement letter and a separate payment of $1,738 for the filing fees of the case. In addition, the firm will seek reimbursement for its out-of-pocket expenses. Nelson Robles-Diaz, 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: Nelson Robles-Diaz Nelson Robles-Diaz Law Offices PSC P.O. Box 192302 San Juan, PR 00912 Tel: (787) 294-9518 Fax: (787) 924-9519 Email: nroblesdiaz@gmail.com About Consejo de Titulares del Condominio Consejo de Titulares del Condominio Touchvision Plaza sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Puerto Rico Case No. 26-02205) on May 14, 2026, with $0 to $50,000 in assets and $100,001 to $500,000 in liabilities. Nelson Robles Diaz, Esq. at Nelson Robles Diaz Law Offices Psc represents the Debtor as bankruptcy counsel. CV SCIENCES: Fails to Secure Approval for Reverse Stock Split ------------------------------------------------------------- CV Sciences, Inc. held the 2026 Annual Meeting in a virtual format. At the close of business on April 6, 2026, the record date for the 2026 Annual Meeting, there were 193,458,420 shares of common stock issued and outstanding, which constituted all of the outstanding capital stock of the Company. At the 2026 Annual Meeting, 116,234,784 of the 193,458,420 outstanding shares of common stock entitled to vote, or approximately 60.1%, were represented by proxy at the meeting, and, therefore, a quorum was present. The proposals voted on at the 2026 Annual Meeting are more fully described in Proxy Statement, which is incorporated herein by reference. The final voting results on the proposals presented for stockholder approval at the 2026 Annual Meeting were as follows: Proposal 1: Election of Directors The Company's stockholders elected three directors, each to serve until the Company's next Annual Meeting of Stockholders or until his successor is duly elected and qualified, subject to prior death, resignation or removal, as set forth below: 1. Dr. Jamie Corroon * For: 39,505,495 * Against: 3,183,772 * Abstain: 1,078,738 * Broker Non-Vote: 72,466,779 2. Joseph Dowling * For: 37,674,977 * Against: 4,813,319 * Abstain: 1,279,709 * Broker Non-Vote: 72,466,779 3. Bill McCorkle * For: 22,671,092 * Against: 3,928,542 * Abstain: 17,168,371 * Broker Non-Vote: 72,466,779 Proposal 2: Reverse Stock Split The Company's stockholders did not approve the Company's proposal to amend its Certificate of Incorporation, as amended to effect, at the discretion of the Board of Directors, a reverse stock split of all outstanding shares of common stock at a ratio of not less than 1-for-10 and not greater than 1-for-800, such ratio to be determined by the Board of Directors at any time before May 30, 2029, without further approval or authorization from its stockholders, as set forth below: * For: 48,496,747 * Against: 59,628,926 * Abstain: 8,109,111 * Broker Non-Vote: -- Proposal 3: Ratification of Selection of Independent Registered Public Accounting Firm The Company's stockholders ratified Haskell & White LLP as the Company's independent registered public accounting firm for the fiscal year ending December 31, 2026, as set forth below: * For: 102,384,289 * Against: 12,488,529 * Abstain: 1,361,966 * Broker Non-Vote: -- About CV Sciences CV Sciences Inc., based in San Diego, California, develops and sells hemp extract and other natural ingredient products through business-to-business and direct-to-consumer channels in the United States. The Company markets its products under the +PlusCBD brand, which is distributed at retail locations nationwide. CV Sciences manufactures and tests its products in line with regulatory and internal standards, and its +PlusCBD brand has obtained self-affirmed GRAS status. Irvine, California-based Haskell & White LLP, the Company's auditor since 2021, issued a "going concern" qualification in its report dated March 26, 2026, citing that Company has experienced recurring operating losses, negative cash flows from operations, and has limited liquid resources. These matters raise substantial doubt about the Company's ability to continue as a going concern. As of December 31, 2025, the Company had $7 million in total assets and $5.5 million in total liabilities, and total stockholders' equity of $1.5 million. D & D VENTURE: Case Summary & 20 Largest Unsecured Creditors ------------------------------------------------------------ Debtor: D & D Venture Group, Inc. d/b/a Bennett Valley Ace Hardware d/b/a Benett Valley Hardware d/b/a Pacific Manor Hardware d/b/a Pacific Manor Ace Hardware d/b/a Chase Ace Hardware d/b/a Chase Ace Hardware - San Rafael d/b/a Chase Ace Hardware - Santa Rosa d/b/a Chase Ace Hardware - Bennett Valley d/b/a Chase Ace Hardware - Pacifica d/b/a Chase Ace Hardware - Pacific Manor d/b/a Bennett Valley Gardens d/b/a SPRIG d/b/a SPRIG Gardens d/b/a SPRIG Nursery d/b/a SPRIG Home and Garden 329 Alemenar Drive Greenbrae, CA 94904 Business Description: D & D Venture Group Inc. is a Greenbrae, California-based retail operator doing business as Chase Ace Hardware and Sprig Home and Garden, with hardware, garden, home decor and gift stores in San Rafael, Santa Rosa and Pacifica, California. Chapter 11 Petition Date: June 4, 2026 Court: United States Bankruptcy Court Northern District of California Case No.: 26-30496 Judge: Hon. William J Lafferty Debtor's Counsel: Edward J. Tredinnick, Esq. FOX ROTHSCHILD LLP 345 California Street Suite 2200 San Francisco, CA 94104-2670 Tel: 415-364-5540 Email: ETredinnick@foxrothschild.com Debtor's Financial Advisor: MAC RESTRUCTURING ADVISORS, LLC Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Damon Pham as secretary and chief financial 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/DOZELHQ/D__D_Venture_Group_Inc__canbke-26-30496__0001.0.pdf?mcid=tGE4TAMA DAX INTERNATIONAL: Seeks to Hire Bilu Law as Bankruptcy Counsel --------------------------------------------------------------- Dax International Brokers, Inc. seeks approval from the U.S. Bankruptcy Court for the Southern District of Florida to employ Bilu Law, PA as counsel. The firm will render these services: (a) give advice to the Debtor with respect to its powers and duties as a Debtor-in-Possession and the continued management of its business operations; (b) advise the Debtor with respect to its responsibilities in complying with the U.S. Trustee's Operating Guidelines and Reporting Requirements and with the rules of the court; (c) prepare legal documents necessary in the administration of the case; (d) protect the interest of the Debtor in all matters pending before the court; and (e) represent the Debtor in negotiation with its creditors in the preparation of a plan. The firm received a flat fee retainer of $5,000 from the Debtor. Nicholas Rossoletti, Esq., an attorney at Bilu Law, disclosed in a court filing that the firm is a "disinterested person" as that term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Nicholas G. Rossoletti, Esq. Bilu Law, PA 2760 W. Atlantic Blvd. Pompano Beach, FL 33069 Telephone: (954) 596-0669 Facsimile: (954) 427-1518 Email: nrossoletti@bilulaw.com About Dax International Brokers Inc. Dax International Brokers, Inc. based in Miami, Florida, distributes kitchen, bathroom, flooring, and tile products and operates a showroom in Medley, Florida. The company provides wholesale delivery services to contractors, kitchen and bath companies, designers, interior decorators, and other wholesale customers across North, South and Central America and the Caribbean. Dax International Brokers sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 26-15092) on April 22, 2026. In the petition signed by Alejandro A. Randazzo, secretary, the Debtor disclosed up to $1 million in assets and up to $10 million in liabilities. Judge Corali Lopez-Castro oversees the case. Nicholas Rossoletti, Esq., at Bilu Law, PA represents the Debtor as counsel. DEL MONTE: Minority Creditors Seek Immediate Appeal to 3rd Circuit ------------------------------------------------------------------ Emily Lever of Law360 Bankruptcy Authority reports that minority lenders opposed to Del Monte Foods Corp.'s confirmed Chapter 11 plan have petitioned for a direct appeal to the U.S. Court of Appeals for the Third Circuit, arguing that the case presents significant legal issues deserving immediate appellate review. According to the lenders, the bankruptcy court's confirmation order approved provisions that adversely affected their rights and raises questions that could have implications for future restructuring cases. The group believes direct appellate review would provide a faster and more efficient resolution. The move comes after the bankruptcy court approved Del Monte's restructuring plan in May 2026. If the request is granted, the Third Circuit would hear the appeal without the matter first passing through lower appellate channels, according to Law360. About Del Monte Foods Corporation II Inc. Founded in 1886 and headquartered in Walnut Creek, California, the Del Monte business has been a cornerstone of American grocery stores for more than 130 years. Del Monte Foods has been driven by its mission to nourish families with earth's goodness. As the original plant-based food company, Del Monte is always innovating to make nutritious and delicious foods more accessible to consumers across its portfolio of beloved brands, including Del Monte, Contadina, College Inn, Kitchen Basics, JOYBA, Take Root Organics and S&W. On the Web: http://www.delmontefoods.com/or http://www.joyba.com/ On July 1, 2025, Del Monte Foods Corporation II, Inc. and 17 affiliated debtors filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code (Bankr. D.N.J. Lead Case No. 25-16984) to address $1.235 billion in funded debt obligations. At the time of the filing, the Debtors listed $1 billion to $10 billion in both assets and liabilities. Judge Michael B. Kaplan presides over the case. The Debtors tapped Herbert Smith Freehills Kramer (US), LLP and Cole Schotz P.C. as legal counsel; Jonathan Goulding, managing director at Alvarez & Marsal North America, LLC, as chief restructuring officer; and Stretto, Inc. as claims and noticing agent. The U.S. Trustee for Regions 3 and 9 appointed an official committee to represent unsecured creditors. The committee hired Morrison & Foerster LLP as counsel; Province, LLC as financial advisor; Kelley Drye & Warren LLP as co-counsel; and Stifel, Nicolaus & Co., Inc. as investment banker. DEM REAL: Case Summary & TWO Unsecured Creditors ------------------------------------------------ Debtor: DEM Real Estate Holdings, LLC 1635 Robert C. Jackson Dr. Maryville, TN 37801 Business Description: DEM Real Estate Holdings is a Maryville, Tennessee-based real estate holding company associated with the property at 1635 Robert C. Jackson Drive. The address is also listed for a strength-equipment business that sells gym and fitness products. Chapter 11 Petition Date: June 7, 2026 Court: United States Bankruptcy Court Western District of North Carolina Case No.: 26-30772 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 Email: mmartinez@grierlaw.com Estimated Assets: $1 million to $10 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 two unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/N2RIBKA/DEM_Real_Estate_Holdings_LLC__ncwbke-26-30772__0001.0.pdf?mcid=tGE4TAMA DEM REAL: Seeks to Tap Grier Wright Martinez as Bankruptcy Counsel ------------------------------------------------------------------ DEM Real Estate Holdings, LLC seeks approval from the U.S. Bankruptcy Court for the Western District of North Carolina to employ Grier Wright Martinez, PA as counsel. The firm will render these services: (a) advise and consult with respect to the Debtor's powers and duties; (b) negotiate, prepare, and pursue confirmation of a Chapter 11 and all related agreements and/or documents; (c) take all necessary action to protect and preserve the Debtor's estate; (d) prepare on behalf of the Debtor all necessary legal papers; (e) perform any and all other legal services for the Debtor in connection with this Chapter 11 case; (f) advise and assist the Debtor regarding all aspects of the plan and confirmation process at the earliest possible date; and (g) give legal advice and perform legal services with respect to other issues relating to the foregoing. The firm's counsel and staff will be paid at these hourly rates: Joseph Grier III, Attorney $695 Michael Martinez, Attorney $495 A. Cotton Wright, Attorney $485 Anna Gorman, Attorney $450 Benjamin Rhodes, Attorney $295 Paraprofessional $200 In addition, the firm will seek reimbursement for expenses incurred. The firm received a retainer in the amount of $50,000 from an affiliate of Debtor, FitKing, LLC. Mr. Martinez disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Michael L. Martinez, Esq. Grier Wright Martinez, PA 521 E. Morehead Street, Suite 440 Charlotte, NC 28202 Telephone: (704) 332-0209 Facsimile: (704) 332-0215 Email: mmartinez@grierlaw.com 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. DIESEL DEVELOPMENT: Seeks 30-Day Extension of Plan Filing Deadline ------------------------------------------------------------------ Diesel Development Systems, LLC, asked the U.S. Bankruptcy Court for the Western District of Pennsylvania to extend its exclusivity period to file a Chapter 11 plan for additional thirty days. The Debtor intended to sell its real property located at 9043 Marshall Road, Cranberry Township, PA 16066. Debtor engaged the services of a real estate broker, who was appointed by Order of Court dated January 28, 2026. The sale of Debtor's property was intended to contribute to funding a feasible Chapter 11 plan of reorganization. The Debtor's real property has remained listed and marketed but has not received any offers. The Debtor explains that upon review with the accountant, the company believes that the non-filing operating entity has improved its financial position to the extent that it can make consistent rent payments to the Debtor, and that Debtor will be able to file a Plan of reorganization that can be funded through continued operations. Diesel Development Systems, LLC is represented: Brian C. Thompson, Esq. Thompson Law Group, PC 301 Smith Drive, Suite 6 Cranberry Township, PA 16066 Telephone: (724) 799-8404 Facsimile: (724) 799-8409 E-mail: bthompson@thompsonattorney.com About Diesel Development Systems Diesel Development Systems, LLC, operates the Diesel Sports Complex, a sports and training facility located in Cranberry Township, Pennsylvania. The Company owns the 9043 Marshall Road property, which features indoor and outdoor turf fields used for athletic training and recreational events. Diesel Development Systems is classified under the amusement and recreation industry and conducts business primarily in western Pennsylvania. Diesel Development Systems filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. W.D. Pa. Case No. 25-22796) on Oct. 17, 2025, listing up to $10 million in both assets and liabilities. Brian C. Thompson, at Thompson Law Group, PC, serves as the Debtor's counsel. DIVERSIFIED WIRE: Court Modifies Final DIP Order ------------------------------------------------ The U.S. Bankruptcy Court for the Eastern District of Michigan, Southern Division, entered an interim order granting Diversified Wire & Cable, Inc.'s bid to modify the final order authorizing debtor-in-possession financing and to obtain additional loan. The court previously authorized the Debtor to obtain up to $2 million in DIP financing from Bridge Business Credit, LLC under the April 2 final DIP order. However, the lender later issued a termination notice and ceased its obligation to fund additional advances under the facility. After the termination, the Debtor shifted from reorganization to orderly liquidation and identified Tripathi Capital Holding, LLC as a potential stalking horse buyer. To complete a sale process, the Debtor requires up to $500,000 in financing from Tripathi to support inventory acquisition needed to fulfill existing customer orders during liquidation. Under the court's latest order, Bridge's borrowing capacity is reduced from $2 million to $1.5 million while Tripathi is authorized to provide up to $500,000 in financing. This new financing would be structured through an intercreditor agreement between Bridge and Tripathi, allowing Tripathi to receive a first-priority lien only on newly purchased inventory and related proceeds while Bridge retains its existing collateral rights. During the interim period, the Debtor is authorized to borrow up to $80,000 under the purchase order financing agreement with Tripathi and an additional $90,000 under the Bridge DIP loan, which is consistent with the final DIP order. The Debtor said that the new arrangement is necessary due to changed circumstances, adding it will preserve creditor recoveries by enabling continued fulfillment of purchase orders and maintaining customer relationships. The order is available at http://bankrupt.com/misc/DiversifiedWire_IFinancingOrder.pdf The court scheduled a final hearing for June 25 and set a June 23 deadline for filing objections. About Diversified Wire & Cable Inc. Diversified Wire & Cable, Inc. supplies wire and cable products and supports telecommunications and technology infrastructure projects with related engineering and integration services. The company provides cable assembly, cabinet build solutions, and systems design assistance while operating a service center that fulfills both custom and large-volume orders. It works with contractors and corporate clients to source and deliver the cabling components needed for network and technology installations. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Mich. Case No. 26-42632) on March 12, 2026, with $0 to $50,000 in assets and $1 million to $10 million in liabilities. Dean Stanton, CEO, signed the petition. Judge Maria L. Oxholm presides over the case. Lynn M. Brimer, Esq., at Strobl, PLLC represents the Debtor as legal counsel. DNA ELECTRICAL: Hires Tax Workout Group as Bankruptcy Counsel ------------------------------------------------------------- DnA Electrical, L.L.C. d/b/a T.B.I. Electric, Inc. seeks approval from the U.S. Bankruptcy Court for the Middle District of Florida to Tax Workout Group, P.A. as bankruptcy counsel. The firm's services include: a. advising the Debtor regarding its obligations as a debtor‑in‑possession; b. preparing motions and schedules; c. negotiating with creditors; d. analyzing liens and claims; e. assisting in the formulation and confirmation of a Subchapter V, Chapter 11 plan, and f. performing other legal services as may be necessary in the administration of the business and this Chapter 11 case. The firm will be paid at these rates: Andrew Kamensky $475 per hour Paraprofessionals $200 per hour The firm received a prepetition retainer in the amount of $35,000. Prior to filing the instant Chapter 11 bankruptcy case, the firm used $33,480.50 of the retainer, leaving $1,519.50 in trust. In addition, the firm will seek reimbursement for its out-of-pocket expenses. Andrew Kamensky, 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: Andrew Kamensky, Esq. Tax Workout Group, P.A. 150 E. Palmetto Park Road, Suite 800 Boca Raton, FL 33432 Tel: (888) 282-9333 Fax: (866) 511-2384 Email: akamensky@twg.law About DnA Electrical, L.L.C. d/b/a T.B.I. Electric, Inc. DnA Electrical, L.L.C. d/b/a T.B.I. Electric, Inc., filed a Chapter 11 bankruptcy petition (Bankr. M.D. Fla. Case No. 2:26-bk-01375-FMR) on June 3, 2026. The Debtor hires Tax Workout Group, P.A. as bankruptcy counsel. DNA X: Terminates $500MM Equity Purchase Agreement With Chardan --------------------------------------------------------------- DNA X, Inc. announced in a regulatory filing that the Company and Chardan Capital Markets LLC entered into a letter agreement pursuant to which they agreed, among other things, to terminate, effective as of 5:00 p.m., New York City time, on May 28, 2026, the ChEF Agreement and Registration Rights Agreement. As previously disclosed, on September 29, 2025, the Company" and Chardan entered into a ChEF Purchase Agreement pursuant to which Chardan committed to purchase, subject to certain limitations and conditions set forth in the ChEF Agreement, up to $500 million of shares of the Company's common stock, par value $0.001 per share, and a Registration Rights Agreement providing Chardan with certain registration rights with respect the shares of common stock purchasable under the ChEF Agreement. About DNA X, INC. DNA X, Inc. -- https://www.dnax.us/ -- was incorporated in the state of Delaware on August 5, 1999 under the name Sonim Technologies Inc., and is headquartered in San Diego, California. Effective January 23, 2026, the Company changed its name to DNA X, Inc. The Company operates a cryptocurrency trading service that operates on the internet and allows customers to trade cryptocurrencies and to implement strategies to buy and sell pairs of cryptocurrencies. Until January 23, 2026, the Company operated a cell phone and mobile hotspot manufacturing business. The assets of the phone and mobile hotspot business were sold to Pace Car Acquisition LLC on January 23, 2026. As of March 31, 2026, the Company had $4.84 million in total assets, $4.92 million in total liabilities, and $983 thousand in total stockholders' deficit. San Jose, CA-based Baker Tilly US, LLP, issued a "going concern" qualification in its report dated April 14, 2026, attached to the Company's Annual Report on Form 10-K for the year ended December 31, 2025, citing that the Company is subject to the risks and uncertainties associated with operating a cryptocurrency trading platform, including the ability to attract new customers and keep existing customers from moving their business to other competitors. Further, the Company is not currently generating enough cash to cover the Company's overhead, and as such, the Company must secure capital by either issuing equity or through debt. These conditions raise substantial doubt about its ability to continue as a going concern. DOHENY SUNSET: Commences Chapter 11 Bankruptcy in California ------------------------------------------------------------ On June 3, 2026, Doheny Sunset LLC filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Central District of California. According to court filings, the Debtor reports between $10 million and $50 million in debt owed to between 1 and 49 creditors. A meeting of creditors under Section 341(a) to be held on June 29, 2026 at 09:30 AM at UST-LA1, TELEPHONIC MEETING. CONFERENCE LINE:1-888-330-1716, PARTICIPANT CODE:4892201. About Doheny Sunset LLC Doheny Sunset LLC is a real estate holding and investment company involved in the ownership, development, leasing, and management of real estate assets. Doheny Sunset LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-15558) on June 3, 2026. In its petition, the Debtor reports estimated assets between $10 million and $50 million and estimated liabilities between $10 million and $50 million. Honorable Bankruptcy Judge Sheri Bluebond handles the case. The Debtor is represented by Philip W. Boesch Jr., Esq. of The Boesch Law Group. DRIVESMART SYSTEMS: Taps Rountree Leitman Klein & Geer as Counsel ----------------------------------------------------------------- Drivesmart Systems, Inc. seeks approval from the U.S. Bankruptcy Court for the Northern District of Georgia to employ Rountree, Leitman, Klein & Geer, LLC as counsel. The firm's services include: (a) advise the Debtor with respect to its powers and duties; (b) prepare on behalf of the Debtor necessary legal papers; (c) assist in examination of the claims of creditors; (d) assist with formulation and preparation of the disclosure statement and plan of reorganization and with the confirmation and consummation thereof; and (e) perform all other legal services for the Debtor that may be necessary herein. The firm will be paid at these hourly rates: William Rountree, Attorney $645 Will Geer, Attorney $645 Michael Bargar, Attorney $555 Hal Leitman, Attorney $550 David Klein, Attorney $545 Ceci Christy, Attorney $475 Elizabeth Childers, Attorney $445 Shawn Eisenberg, Attorney $445 Jonathan Clements, Attorney $445 Caitlyn Powers, Attorney $425 AnnaClaire Bowman, Attorney $375 Dorothy Sideris, Paralegal $250 Megan Winokur, Paralegal $200 Law Clerk $200 Legal Assistants $175 The firm received a pre-petition retainer of $40,000, filing fee included, from the Debtor. Mr. Geer disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Will B. Geer, Esq. Rountree, Leitman, Klein & Geer, LLC Century Plaza I 2987 Clairmont Road, Suite 350 Atlanta, Georgia 30329 Telephone: (404) 584-1238 Email: wgeer@rlkglaw.com About DriveSmart Systems Inc. DriveSmart Systems, Inc. operates a driving school in Georgia providing state-approved behind-the-wheel and classroom driver education services. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ga. Case No. 26-55833) on May 4, 2026. In the petition signed by Steven Jones, chief executive officer, the Debtor disclosed upto $500,000 in assets and up to $10 million in liabilities. Judge Paul Baisier oversees the case. Will Geer, Esq., at Rountree, Leitman, Klein & Geer, LLC represents the Debtor as counsel. DRW HOLDINGS: Moody's Puts 'Ba2' CFR on Review for Downgrade ------------------------------------------------------------ Moody's Ratings has placed all ratings of DRW Holdings, LLC (DRW) on review for downgrade, which include DRW's Ba2 Corporate Family Rating, Ba3 long-term Issuer Rating and Ba3 senior secured first lien term loan. Previously, the outlook was stable. RATINGS RATIONALE / FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS The review for downgrade of DRW reflects Moody's views that the firm's appetite for proprietary trading risk may be higher than peers, which can result in higher levels of earnings volatility at DRW. The review will focus on the adequacy of DRW's risk governance and controls in the context of its trading risk appetite. In addition, Moody's reviews for downgrade will also consider the inherent operational risk of DRW's trading activities which can result in rapid and severe losses or a contraction in liquidity and funding in the event of a risk management failure. DRW's Ba2 CFR reflects its solid position and thirty-plus year track record as a technology-driven trading organization that commands strong market shares in numerous futures and options contracts. DRW is diversified by trading strategy, asset class and venue, which provides some cushion against shifting trading environments. DRW manages liquidity by maintaining a liquidity reserve, held in readily available cash and liquid instruments, which covers observed historical liquidity requirements measured at a high confidence level. Further, the vast majority of DRW's trading inventory is comprised of Level 1 instruments. DRW also holds a portfolio of less liquid commercial real estate (CRE) and venture capital investments. DRW is gradually reducing the size of its CRE investments which are diversified by geography and by property type. The smaller venture capital portfolio focuses on applied technologies to enhance DRW's trading capabilities or opportunities. Moody's expects losses associated with this portfolio to be modest in relation to earnings and capital. The one notch differential between the Ba2 CFR and the holding company's Ba3 issuer and bank credit facility ratings reflects structural subordination at the holding company to DRW's operating companies, where the preponderance of the group's debt and debt-like obligations reside. DRW's ratings could be downgraded if Moody's believes the firm has a higher trading risk appetite with weaker controls than peers or is more exposed to operational risk management failures, which may be evidenced by above average revenue and earnings volatility. DRW's ratings may also be downgraded due to losses on its CRE, venture capital or crypto-asset portfolio or by financing a greater share of its trading capital with debt. DRW's ratings may be confirmed if Moody's expects DRW's risk control framework to remain resilient to changing market conditions and the firm continues to reduce its CRE investment portfolio. The principal methodology used in these ratings was Securities Industry Market Makers published in June 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. DTE ENERGY: Fitch Assigns 'BB+' Rating on Jr. Subordinated Notes ---------------------------------------------------------------- Fitch Ratings has assigned a 'BB+' rating to DTE Energy Co.'s (BBB/Stable) issuance of junior subordinated notes. The junior subordinated debt will rank pari passu with DTE's existing junior subordinated notes. DTE's Rating Outlook is Stable. DTE will use the note proceeds to repay short-term borrowings and for general corporate purposes. The junior subordinated notes qualify for 50% equity credit under Fitch's "Corporate Hybrids Treatment and Notching Criteria" due to deep subordination and the ability to defer coupon payments for 10 years. Key Rating Drivers Stable Utility Business: Michigan's regulatory environment remains constructive following credit-supportive rate case outcomes at the utilities, despite increased regulatory scrutiny of storm-response efforts. A supportive regulatory environment remains a key rating driver, as most of DTE's cash flow comes from DTE Electric Co. (DTEE; A-/Stable) and DTE Gas Co. (DTEG; BBB+/Stable). Fitch does not expect non-regulated businesses, including renewable natural gas, to exceed 10% of total earnings. Growing Data Center Demand: Fitch views growing data center demand as positive. DTE is in talks with hyperscalers for 2 gigawatts (GW) of load in the near term, has a pipeline of 3 GW to 4 GW of demand beyond that, and recently signed a 1.4 GW data center agreement with a subsidiary of Oracle (BBB/Stable) and filed for regulatory approval for a 1GW data center contract with Google (not rated). The Oracle contract is supported by a 19-year power supply contract with minimum monthly charges and a 15-year storage contract; the Google contract is supported by a 20-year power supply contract with minimum monthly charges and a 20-year Clean Capacity Agreement. Clean Energy Supports Data Centers: The 1.4 GW Oracle data center load will ramp up over the next two to three years and will be served with 1 GW of existing generation and a like amount of new battery storage, with deployments beginning in 2026 while the 1 GW Google load will fully ramp up by 2028 and will be supported by an incremental 480 megawatts (MW) energy storage portfolio, 350 MW of demand response and up to 1.6 GW of renewables; longer term 700MW will be needed and finalized in next Integrated Resource Plan filing later this year. Growing Generation Needs: New generation will be required in the medium term, and DTE recently issued an all-source request for proposals for a new 1.5 GW combined cycle gas turbine, expected to cost over $2.5 billion, to replace capacity from the planned retirement of its 3.1 GW Monroe coal plant by year-end 2032. The initial 3 GW of data center demand is projected to lift load by about 40% over five years, driving sales growth to 4% to 5%, and data center/storage investments are incremental to the current capex plan. Significant Growth in Capital Spending: DTE's $36.5 billion capital program for 2026-2030 represents a 22% increase over the prior plan and a significant 83% increase over the prior five years, primarily to support a growing data center pipeline, along with enhanced investments in cleaner generation and distribution. Continued growth in data center demand, which seems likely, would lead to higher capex. DTE plans to increase equity issuances to support the capital plan and is targeting $500 million to $600 million of equity annually from 2026 to 2028, with similar levels thereafter. Credit Metrics Support Ratings: Fitch projects DTE's funds from operations (FFO) leverage will remain in line with its ratings over the forecast. DTE's FFO leverage weakened by 40 basis points (bps) to 5.5x in 2025 due to regulatory lag but should improve following rate relief from a recent constructive rate case outcome at DTEE and anticipated rate relief from a pending rate case at DTEG. Fitch projects FFO leverage will average 5.1x from 2026 to 2028, supported by frequent rate filings and credit supportive rate case outcomes. Fitch expects parent debt to remain elevated at around 34% to 36% of total debt over the forecast. Renewable Tax Credit Support Growth: Fitch expects limited impact from the passage of the U.S. Tax and Spending Bill (H.R.1) last year. DTE's renewable projects are safe-harbored through 2029, and battery storage remains eligible for tax incentives through 2036. While the bill accelerates the phaseout of wind and solar credits, it preserves tax credit transferability and requires eligible projects to either begin construction within 12 months of enactment or be placed in service by year-end 2027. Fitch expects accelerated depreciation and growing renewable tax credits to support the company in guiding to the higher end of its 6% to 8% long- term earnings per share growth targets. Parent/Subsidiary Linkage: There is parent subsidiary linkage between DTE and its rated subsidiaries, DTEE and DTEG. Fitch determines DTE's Standalone Credit Profile (SCP) based on consolidated metrics. DTEE and DTEG have stronger SCPs and Fitch follows the stronger subsidiary path. Fitch emphasizes their status as regulated entities with porous access and control and legal ring-fencing. DTE centrally manages treasury functions and is the sole equity source, while subsidiaries issue their own debt. Consequently, Fitch limits the rating difference between DTE and its subsidiaries, DTEE and DTEG, to two notches. Peer Analysis DTE's credit profile is in line with its peers Dominion Energy, Inc. (DEI; BBB+/Rating Watch Positive) and CMS Energy Corporation (BBB/Stable), which are also parents to regulated utility operations and have sizable debt at the parent level. DTE's consolidated operations are smaller than Dominion's and larger than CMS Energy's. DTE and its peers have geographic concentration, with Dominion being more diversified than DTE and CMS. Dominion generates the majority of consolidated EBITDA from Virginia followed by South Carolina and North Carolina, while DTE and CMS are limited to a single state (Michigan). DEI's Positive Rating Watch reflects its pending all-stock merger with NextEra Energy, Inc. (A-/Stable). Fitch expects 90% of DTE's EBITDA to come from its single-state regulated utility businesses over the forecast period similar to its peers. Approximately 90% of DEI's EBITDA will come from state-regulated utility businesses, while most of CMS Energy's EBITDA (95%) comes from a regulated utility in Michigan. Fitch expects DTE's parent-level debt to remain around 35% over Fitch's forecast period. Although elevated, it is similar to the 30%-40% level projected for DEI and higher than about the 20%-23% level at CMS Energy. Fitch anticipates DTE's FFO leverage to average 5.1x in 2026-2028, similar to CMS Energy's, which Fitch expects to average 5.6x over the near term before improving to 5.2x in the outer years of the forecast period. Fitch projects that DEI's FFO leverage after its offshore wind farm enters service will be within its negative sensitivity threshold of 5.0x. Fitch’s Key Rating-Case Assumptions - Constructive regulatory environment in Michigan with ROEs for DTEE and DTEG in line with currently approved returns; - Equity issuances of up to $500 million to $600 million annually in 2026-2028; - Securitization debt is excluded from the FFO leverage calculations; - DTE Vantage business remaining below 10% consolidated EBITDA target over the forecast period; - Capital structures at utilities commensurate with regulatory approved structure. Corporate Rating Tool Inputs and Scores Fitch scored the issuer as follows, using its Corporate Rating Tool (CRT) to produce the SCP: - Business and financial profile factors (assessment, relative importance): Management (bbb, Lower), Sector Characteristics (a-, Higher), Market and Competitive Positioning (bbb, Moderate), Diversification and Asset Quality (bbb+, Moderate), Company Operational Characteristics (bbb+, Moderate), Profitability (bbb+, Moderate), Financial Structure (bbb-, Higher), and Financial Flexibility (bbb+, Moderate). - The quantitative financial subfactors are based on standard CRT financial period parameters: 20% weight for the latest historical year 2024, 40% for the forecast year 2025 and 40% for the forecast year 2026. - The Governance assessment of 'Good' results in no adjustment. - The Operating Environment assessment of 'aa-' results in no adjustment. - The SCP is 'bbb'. To derive the IDR: - Application of Fitch's "Parent and Subsidiary Linkage Considerations Rating Criteria" results in a consolidated approach. RATING SENSITIVITIES Factors that Could, Individually or Collectively, Lead to Negative Rating Action/Downgrade - A significant deviation from the current business risk with the regulated businesses comprising less than 90% of consolidated cash flow due to growth in the non-utility businesses; - An adverse change in Michigan's regulatory environment; - Sustained weakening in FFO leverage of 5.8x or higher through the forecast period; - Sustained increase in parent-level debt materially beyond currently projected 35% of total. Factors that Could, Individually or Collectively, Lead to Positive Rating Action/Upgrade - While not anticipated at this time, given the sizable capital program and elevated leverage, sustained improvement in FFO leverage of 4.8x or lower through the forecast period. Liquidity and Debt Structure DTE and its subsidiaries had around $3.4 billion of available liquidity as of March 31, 2026, consisting of unrestricted cash and amounts available under RCFs and letter of credit facilities. DTE's RCFs expire in October 2030. The RCFs are $1.5 billion at DTE, $1 billion at DTEE and $300 million at DTEG. DTE, DTEE and DTEG were compliant with consolidated debt/capitalization of 67%, 53% and 48%, respectively, as defined under the credit agreement as of March 31, 2026. Debt maturities remain manageable given the history of successful refinancing, and Fitch expects DTE to have continued access to the capital markets. Fitch assigns 50% equity credit to the junior subordinated debentures issued by DTE and excludes securitization debt from credit metrics. Issuer Profile DTE is the parent company of DTEE and DTEG, regulated utilities providing electric and gas services throughout Michigan. DTE owns non-utility operations, including industrial energy projects and energy trading, which contribute up to 10% of consolidated FFO. Date of Relevant Committee March 5, 2026 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 Climate.VS for DTE Energy Co. for 2035 is 50 out of 100. The high scores reflect ownership of and the transition risk associated with electricity generation from fossil fuels through ownership of subsidiary DTE Electric Co., including both coal and natural gas generation partially offset by growing renewables and relatively clean nuclear generation. The company's remaining coal-generating plants are in the process of being retired and replaced with gas and renewable resources; the company expects to exit coal generation by 2032. The company is on track to comply with Michigan's clean energy legislation which has a standard of 80% clean energy by 2035 and 100% by 2040, with a renewable standard of 50% by 2030. The Climate.VS score does not influence the current ratings. 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 ----------- ------ DTE Energy Company junior subordinated LT BB+ New Rating DYE & DURHAM: S&P Lowers ICR to 'CCC+', Outlook Negative -------------------------------------------------------- S&P Global Ratings lowered its rating on Dye & Durham Corp.'s (DND) to 'CCC+' from 'B-'. S&P said, "At the same time, we lowered our issue-level rating on its secured debt to 'CCC+'. The recovery rating remains '3', indicating our expectation for average (50%-70%; rounded estimate: 60%) recovery in the event of a default. "The negative outlook reflects we could downgrade Dye & Durham over the coming year if slow operations constrain liquidity or we expect a distressed exchange transaction." DND's performance has been weaker than expected, with S&P Global Ratings adjusted leverage above 9.0x and EBITDA interest coverage ratio of 1.0x as of March 2026. Even though management has embarked on strategic initiatives to improve metrics, given weak macroeconomic conditions, there is a risk of EBITDA improvement being delayed. S&P said, "Our downgrade reflects that the capital structure appears unsustainable in the long term. Dye & Durham's S&P Global Ratings adjusted leverage rose to 9.5x in the third quarter (ending in March) of fiscal 2026 from 8.3x in fiscal 2025 (year-end June), significantly exceeding our previous projections of 7x. Consequently, we revised our earnings projection downward and now forecast the company to exit fiscal 2026 with leverage between 9.5x and 10x. We also expect a free operating cash flow (FOCF) deficit in fiscal 2026. Additionally, last-12-months EBITDA interest coverage declined to 1x in March from 1.4x in fiscal 2025 and we expect the metric to remain at similar level for the next 12 months. "We expect one-time restructuring and special charges to moderate next year, however, our expectations for fiscal 2027 are contingent on housing market activity levels and the company's ability to successfully execute its turnaround plan and avoid any material one‑time costs. The company is now increasingly dependent on much stronger earnings and cash flow in 2027 or proceeds from asset sales to reduce its debt burden. While we understand D&D actively reviews strategic alternatives to strengthen balance sheet, the timing of potential asset sales and subsequent debt repayments remain uncertain." Narrow covenant headroom indicates reduced liquidity cushion. DND has to comply with a first lien covenant (5.8x) should revolver borrowings exceed 35%. The company had $31.5 million in revolver borrowing (30% utilization) at the end of the third quarter leaving only $5 million in headroom before exceeding the 35% utilization trigger. Additionally, D&D's cash balance has declined to $35.6 million in the third quarter of 2026 from $57.6 million in the first quarter. In S&P's view, this tightening liquidity profile indicates limited financial flexibility for the company to withstand further underperformance due to unexpected factors. A subdued housing market and intensifying competition pressure performance. Higher-than-anticipated churn followed contract renewals in the second half of 2025, while lower minimum spending commitments and transaction volumes further constrained revenue. Notably, noncontracted transactional revenues, representing approximately 45% of total revenue, are largely tied to real estate transactions and remain vulnerable to continued softness in Canada and the U.K. Excluding the Credas sale completed in January 2026, revenue declined $27.8 million, or 9%, in the first three quarters. The organic decline reflects the broader market downturn and customer attrition, and pricing compression across its practice management and data insights platforms. Although management anticipates a stabilized revenue trajectory in the coming year driven by lower churn, S&P remains cautious. Persistent market softness and increased competition in key international markets beyond Canada--including the emergence of new entrants such as Goveyance--could continue to pressure sales growth. Unexpected operational underperformance may necessitate an amendment or waiver from lenders.D&D's senior secured credit facility includes a maximum first-lien net leverage of 5.8x, which will be tested (quarterly and calculated on the final day of each quarter) if borrowings exceed 35% of total commitments. The company had $31.5 million in revolver borrowing (30% utilization) and reported a first-lien net leverage ratio of 5.52x at the end of the third quarter. Management expects to operate and manage its business without triggering the covenants; however, S&P expects the company will amend or receive a waiver should any underperformance causes it to be offside on the covenant reporting. The negative outlook on D&D reflects S&P could downgrade Dye & Durham over the coming year if its EBITDA does not cover fixed charges including debt amortization, CAPEX and earn-out payments. This could happen if operating performance weakens due to market softness or customer churn. S&P could lower the rating over the next 12 months if a near-term default scenario--such as a liquidity shortfall or a distressed debt exchange--becomes imminent in the next 12 months. This could occur due to: -- Reduced real estate transactions; -- Higher customer churn; or -- Excess cost due to restructuring activities or shareholder activism. S&P could revise the outlook to stable if management implements and executes its turnaround strategy, improving EBITDA such that: -- S&P no longer expect near-term liquidity constraints; and -- EBITDA interest coverage improves above 1.0x; and -- FOCF turns positive on a sustained basis. DYNABODY LLC: Seeks to Hire Grier Wright Martinez as Legal Counsel ------------------------------------------------------------------ DynaBody, LLC seeks approval from the U.S. Bankruptcy Court for the Western District of North Carolina to employ Grier Wright Martinez, PA as counsel. The firm will render these services: (a) advise and consult with respect to the Debtor's powers and duties; (b) negotiate, prepare, and pursue confirmation of a Chapter 11 and all related agreements and/or documents; (c) take all necessary action to protect and preserve the Debtor's estate; (d) prepare on behalf of the Debtor all necessary legal papers; (e) perform any and all other legal services for the Debtor in connection with this Chapter 11 case; (f) advise and assist the Debtor regarding all aspects of the plan and confirmation process at the earliest possible date; and (g) give legal advice and perform legal services with respect to other issues relating to the foregoing. The firm's counsel and staff will be paid at these hourly rates: Joseph Grier III, Attorney $695 Michael Martinez, Attorney $495 A. Cotton Wright, Attorney $485 Anna Gorman, Attorney $450 Benjamin Rhodes, Attorney $295 Paraprofessional $200 In addition, the firm will seek reimbursement for expenses incurred. The firm received a retainer in the amount of $50,000 from an affiliate of Debtor, FitKing, LLC. Mr. Martinez disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Michael L. Martinez, Esq. Grier Wright Martinez, PA 521 E. Morehead Street, Suite 440 Charlotte, NC 28202 Telephone: (704) 332-0209 Facsimile: (704) 332-0215 Email: mmartinez@grierlaw.com About DynaBody LLC 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. DynaBody, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D.N.C. Case No. 26-30771) on June 7, 2026, listing up to $1 million in assets and up to $10 million in liabilities. Judge Laura T. Beyer oversees the case. Michael L. Martinez, Esq., at Grier Wright Martinez, PA serves as the Debtor's counsel. EMMA BUYER: Fitch Assigns 'B' LongTerm IDR, Outlook Stable ---------------------------------------------------------- Fitch Ratings has assigned Emma Buyer, LLC a first-time 'B' Long-Term Issuer Default Rating (IDR). The Rating Outlook is Stable. Fitch also assigned 'B+' issue-level ratings with a Recovery Rating of 'RR3' to the company's senior secured term loan, delayed-draw term loan (DDTL), and revolving credit facility. Emma Buyer, LLC is the combination of Emerald Holdings and Questex LLC. The ratings are supported by Emma Buyer, LLC's diversified customer base, strong profitability, solid FCF generation, and comfortable liquidity position. However, they are constrained by the company's high leverage, exposure to cyclical demand and relatively small scale. Adjusted EBITDA is estimated at less than $200 million for fiscal 2026. Key Rating Drivers High Leverage: Fitch expects the transaction to close with approximately $965 million of funded debt and $915 million of net debt. This is equivalent to 4.8x EBITDA leverage and 4.6x EBITDA net leverage, based on management's LTM pro forma adjusted EBITDA margin of ~30%. The capital structure includes a $765 million term loan B, a $200 million DDTL funded at closing, and an additional $100 million DDTL unfunded at closing. Sponsor equity provides a meaningful equity cushion. However, leverage is high for a business with concentrated exposure to live events. Exposure to Cyclical Demand and Exogenous Shocks: Fitch views Emma Buyer, LLC's concentration in live business-to-business events as a key rating constraint. Approximately 87% of pro forma revenue is derived from live events, with only 13% from digital and media activities. Fitch believes performance is therefore dependent on corporate marketing budgets, exhibitor return on investment, and continued participation in in-person events. Revenue and earnings could weaken during periods of macroeconomic stress or disruptions affecting travel and event attendance, including recessions, pandemics, terrorist attacks, and severe weather. The company maintains event cancellation insurance coverage which protects against certain shocks (terrorist attacks, fire, & weather). Modest Revenue Visibility: Fitch believes the business benefits from relatively modest forward revenue visibility. As of May 2026, about 76% of expected full-year revenue was booked on a combined basis. Management indicates booking levels typically increase to the mid-80% range by year-end 2Q, supported by high onsite rebooking activity. In addition, roughly 90% of event revenue is typically collected four months before the event date. These characteristics support liquidity planning and improve visibility into near-term forecasts, although they do not fully offset event-related volatility. High Free Cash Flow Conversion: Fitch views the business as highly cash generative, supported by its asset-light operating model, advance cash collections, favorable working capital dynamics, and limited capital expenditure requirements. Historical FCF conversion was over 90% from 2022 to 2025. Management projects FCF margins of ~12-14% during the ratings period. Adequate Liquidity: Pro forma liquidity at closing will be about $325 million. It consists of $50 million of cash on balance sheet, a fully undrawn $175 million revolving credit facility and a $100 million DDTL. The revolving credit facility includes a springing financial covenant with a 40% utilization trigger. The term loan facilities have no maintenance covenants. Liquidity is further supported by strong FCF generation and advance customer collections. Potential Shift Toward Digital Engagement: A longer-term secular risk could emerge if customer engagement and marketing spending shift from physical events to digital alternatives over time. Management views face-to-face events as a must-attend, high-return channel, with digital supporting year-round audience engagement. Questex's digital capabilities are a positive differentiator, including a large verified first-party audience, high year-round engagement and cross-sell benefits from bundled digital and event offerings. However, digital and media contribute a small share of revenue and would likely not, on their own, meaningfully offset a broader decline in live event demand. Peer Analysis Fitch assesses Emma Buyer, LLC's IDR relative to peers in the data, analytics, and professional services sector, with particular focus on exhibition-exposed issuers. Compared with larger peers such as Reed Exhibitions, owned by RELX plc (A-/Stable), and Informa PLC (BBB/Stable), Emma Buyer, LLC has a more exhibition-focused business mix and therefore a less diversified revenue base. These peers benefit from greater scale and broader exposure to recurring, less cyclical information and service revenues. Within the exhibition sector, Informa is a relevant comparator given its historical live-events exposure and subsequent portfolio repositioning. Informa has lower leverage and has reduced dependence on more cyclical verticals over time, improving its revenue stability. Emma Buyer has pursued a similar strategy, though its business profile remains narrower and less diversified. Emma Buyer, LLC's smaller scale, higher concentration, and weaker diversification than investment-grade peers as well as high leverage aligns the IDR more closely with Fitch-rated services peers in the 'B' rating category. Fitch’s Key Rating-Case Assumptions - Organic revenue growth of ~4.5% through 2031; - Fitch-adjusted EBITDA margins expand from the high-20s to mid-30s; - Minimal capex at 1.4%; - Projected cash interest $80-85mm. 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 ('b', Higher), market and competitive positioning ('b+', Moderate), diversification and asset quality ('bb', Lower), company operational characteristics ('b-', Moderate), profitability ('bb+', Moderate), financial structure ('b', Moderate), and financial flexibility ('b', Higher). The quantitative financial subfactors are based on custom CRT financial period parameters: 20% weight for the forecast year 2026, 40% for the forecast year 2027 and 40% for the forecast year 2028. 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 made no adjustments to the SCP, resulting in an IDR of 'B'. Recovery Analysis The recovery rating assumes Emma Buyer, LLC would be reorganized as a going-concern (GC) in bankruptcy rather than liquidated. Fitch assumes a 25% reduction in GC EBITDA to $150 million and a 5.5x EV multiple. This reflects Fitch's view of a sustainable, post-reorganization EBITDA level upon which Fitch bases the enterprise valuation. GC EBITDA reflects a scenario where inflation and cyclical pressures and some mis-execution result in a 25% revenue decline and EBITDA margin compression. The 5.5x EV multiple considers Emma Buyer's events business model with its partial revenue visibility and peer multiples in the services space. Fitch calculates administrative claims of 10%. The $175 million revolver, $765 Term Loan, $200 million DDTL, and $100 million DDTL. The revolver, term loan and DDTL term loans are considered pari passu in the recovery waterfall. Fitch assumes that the revolver and DDTL are fully drawn for earnouts and/or dividends. There is no incremental EBITDA contribution assumed from the revolver and/or DDTLs proceeds. The analysis results in 'B+'/ 'RR3' for the secured credit facilities (revolver, term loan and DDTLs). RATING SENSITIVITIES Factors that Could, Individually or Collectively, Lead to Negative Rating Action/Downgrade - Debt-funded M&A, shareholder distributions or negative operating performance resulting in EBITDA leverage sustained above 5.5x - EBITDA interest coverage sustained below 2.0x; - Sustained underperformance in event demand, exhibitor spend, or sponsorship revenue; Factors that Could, Individually or Collectively, Lead to Positive Rating Action/Upgrade - EBITDA leverage sustained below 4.5x; - Interest coverage sustained above 3.0x; - Reduced reliance on EBITDA adjustments and synergy assumptions; - Demonstrated stability of the combined platform; - Continued strong free cash flow generation and conservative financial policy. Liquidity and Debt Structure Emma Buyer, LLC's pro forma liquidity at closing is expected to be adequate at approximately $325 million, consisting of $50 million of cash on balance sheet, a fully undrawn $175 million revolving credit facility, and a $100 million delayed draw term loan. The revolver includes a springing financial covenant with a 40% utilization trigger, while the term loan facilities do not include maintenance covenants. Liquidity is further supported by strong free cash flow generation, advance customer collections, and favorable working capital characteristics. These facilities carry 1% amortization and mature in June 2033. Issuer Profile Emma Buyer, LLC is a US-based events platform, producing B2B trade shows, events, and conferences. Its B2B digital media platform offerings complement its events portfolio, driving year-round engagement with its customer base. Date of Relevant Committee 04-Jun-2026 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 Emma Buyer, 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 Recovery ----------- ------ -------- Emma Buyer, LLC LT IDR B New Rating senior secured LT B+ New Rating RR3 USD 175 mln revolving credit facility 08-Jun-2031 LT B+ New Rating RR3 USD 765 mln Term Loan B 08-Jun-2033 LT B+ New Rating RR3 USD 200 mln delayed draw term loan B (Questex) 08-Jun-2033 LT B+ New Rating RR3 USD 100 mln delayed draw term loan B 08-Jun-2033 LT B+ New Rating RR3 ENERGY FOCUS: Raises $250,000 in Private Placement -------------------------------------------------- Energy Focus, Inc. announced in a regulatory filing that it entered into a Securities Purchase Agreement with Euka Power Japan Co., Ltd., pursuant to which the Company agreed to issue and sell in a private placement an aggregate of 65,789 shares of the Company's common stock, par value $0.0001 per share, for a purchase price per share of $3.80, the closing price of the Common Stock on the day immediately preceding the date of the Purchase Agreement, totaling $250,000. A full text copy of the Purchase Agreement is available at https://tinyurl.com/53h4t2rn About Energy Focus Solon, Ohio-based Energy Focus -- http://www.energyfocus.com-- engages primarily in the design, development, manufacturing, marketing, and sale of energy-efficient lighting systems and controls. The Company develops, markets, and sells high-quality light-emitting diode ("LED") lighting and controls products in the commercial market and military maritime market. Columbus, Ohio-based GBQ Partners, LLC, the Company's auditor since 2019, issued a "going concern" qualification in its report dated March 25, 2025, attached in the Company's Annual Report on Form 10-K for the year ended Dec. 25, 2024, citing that the Company has suffered recurring losses from operations and negative cash flows from operations that raise substantial doubt about its ability to continue as a going concern. As of March 31, 2026, the Company had $6 million in total assets, $2 million in total liabilities, and $4 million in total stockholders' equity. ENGLEWOOD HOSPITALITY: Gets Extension to Access Cash Collateral --------------------------------------------------------------- Englewood Hospitality, LLC and its affiliates received another extension from the U.S. Bankruptcy Court for the District of New Jersey to use cash collateral. The court issued a fourth interim order authorizing the Debtors to use cash collateral through July 29 to pay expenses in accordance with an approved budget, subject to a 10% variance. As adequate protection for any collateral diminution, secured creditors including Connect One Bank, the U.S. Small Business Administration and merchant cash advance lenders will receive replacement liens on post-petition property, matching the validity and priority of their pre-petition liens. The liens are automatically perfected, exclude avoidance action proceeds, and are subordinate to the fee carveout. As additional protection, secured creditors may also assert a superpriority claim under section 507(b) of the Bankruptcy Code, subject to the Debtors' defenses. The order imposes detailed reporting, insurance, and payment obligations on the Debtors and sets forth specific events of default that could terminate cash collateral use. A final hearing is scheduled for July 28, with objections due by July 21. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/m8ujk from PacerMonitor.com. About Englewood Hospitality LLC Englewood Hospitality, LLC operates a restaurant in Englewood, New Jersey, and Lefkes Delray LLC runs a restaurant in Delray, Florida, with both participating in the full-service restaurant industry. Englewood Hospitality filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. D.N.J. Case No. 25-22962) on December 8, 2025, with $534,205 in assets and $1,308,989 in liabilities. Georgia Dumas, founder and managing partner, signed the petition. Andreas Koutsoudakis, Esq., and Robert L. Rattet, Esq., at Davidoff Hutcher & Citron, LLP represents the Debtor as legal counsel. Joseph Schwartz, Esq., at Riker Danzig Scherer Hyland & Perretti, LLP, serves as Subchapter V trustee for the Debtor. ETEGRA INC: Unsecured Creditors to Get $1K per Month for 5 Years ---------------------------------------------------------------- Etegra, Inc. filed with the U.S. Bankruptcy Court for the Southern District of Florida a Disclosure Statement describing Plan of Reorganization dated June 2, 2026. The Debtor, a corporation organized under the laws of the State of Delaware, is a full service, 8(a) DBE/MBE architect-engineer (A-E) firm. Its primary services are architecture, engineering, and construction management for the Department of Defense and numerous Federal Agencies. On or about June 18, 2021, the Debtor, on the one hand, and Vinod Reddi and Aditi Allady, on the other, entered into an Investment Operating Agreement. After the investment by Aditi, the Debtor and Smart Infrastructure Group, LC ("SIG") entered into a Services Agreement whereby SIG provides all finance, accounting, administrative, marketing, information technology, human resources and supply chain management services to the Debtor. After SIG took over the management of the Debtor, it became apparent that the Debtor had been suffering losses which the prior board members and managers were funding through loans. Pre-petition, issues arose between the Debtor and Andrew Krishna, a shareholder and board member and Andrew Krishna filed suit against the Debtor, amongst others, pre-petition. The Debtor decided to file this case to restructure the debt and use the time after the case was filed to determine whether reorganization was a feasible option. Achyut Kumar Allady, the CEO of SIG, has been working to locate a buyer for the assets of the Debtor through his contacts in this very niche industry. As of the filing of this Plan, there has not been any interest by anyone to purchase the assets of the Debtor, but the Debtor believes that the projections show an ability to reorganize. The Debtor believes that the Plan of Reorganization provides the best value for the creditors' claims and is in their best interest. Attached are cash flow Projections setting forth a projected budget of the Debtor for the five-year term of the Plan. Class Four consists of General Unsecured Claims. The General Unsecured claims include all other allowed claims of Unsecured Creditors of the Debtor, subject to any Objections that are filed and sustained by the Court. The general unsecured claims prior to the filing of any objections total the amount of $16,050,469.48, which will be paid over the five-year term of the Plan at the rate of $1,000.00 per month on a pro-rata basis. The payments will commence on the Effective Date of the Plan. The dividend to this class of creditors is subject to change upon the determination of objections to claims. To the extent that the Debtor is successful or unsuccessful in any or all of the proposed Objections, then the dividend and distribution to each individual Class of General Unsecured Claims then the dividend and distribution to each individual creditor will be adjusted accordingly. These claims are impaired. Class Five consists of Equity Holders. There shall be no distribution to the equity holders of ETEGRA, INC. under the confirmed Plan and no dividends to this class of claimants. The Debtor will continue to operate and be managed by Smart Infrastructure Group, LC. The CEO is Achyut Kumar Allady. The Debtor submits that the Plan is fair and reasonable in its treatment of the respective classes of claims in this case, and that it is in the best interests of all affected parties to approve the Plans treatment of the classes of claims. A full-text copy of the Disclosure Statement dated June 2, 2026 is available at https://urlcurt.com/u?l=0bX0Ia from PacerMonitor.com at no charge. Etegra Inc. is represented by: Dana Kaplan, Esq. KELLEY KAPLAN DELANEY & ELLER, PLLC 1665 Palm Beach Lakes Blvd., Suite 1000 West Palm Beach, FL 33401 Telephone: (561) 491-1200 Facsimile: (561) 684-3773 About Etegra Inc. Etegra is an architect-engineer firm that provides architecture, engineering, and construction management services primarily for the U.S. Department of Defense and other federal agencies, with additional civil, mechanical, electrical, plumbing, and fire protection engineering work for local public and private clients. Etegra, Inc. filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Fla. Case No. 25-24345) on Dec. 4, 2025, listing $436,230 in assets and $6,765,257 in liabilities. The petition was signed by Achyut Kumar Allady as authorized representative of the Debtor. Judge Erik P Kimball presides over the case. Craig I. Kelley, at KELLY KAPLAN & ELLER, PLLC, is the Debtor's counsel. FIRST BRANDS: Chap. 11 Fight Erupts Over Inventory Liens -------------------------------------------------------- Vince Sullivan of Law360 Bankruptcy Authority reports that a creditor in the Chapter 11 case of First Brands Group has asserted that it possesses senior security interests in inventory used to secure loans made to a company subsidiary. The lender made the argument before a Texas bankruptcy judge while challenging rival creditors' claims to the same collateral. The lender contended that the governing financing agreements grant it priority over the inventory and any resulting proceeds. It maintained that its liens were properly perfected and should be recognized ahead of competing interests asserted by other secured parties in the bankruptcy proceedings. The inventory-lien dispute adds another layer of complexity to First Brands’ restructuring efforts. Resolution of the issue could affect recoveries for multiple creditor groups and influence how assets are allocated as the auto parts manufacturer proceeds through Chapter 11, according to report. About First Brands Group First Brands Group, LLC, is a global supplier of aftermarket automotive parts, based in Rochester Hills, Michigan. On September 24, 2025, the Company's non-operational special purpose entities, Global Assets LLC, Global Lease Assets Holdings, LLC, Carnaby Capital Holdings, LLC, Broad Street Financial Holdings, LLC, Broad Street Financial, LLC, Carnaby Inventory II, LLC, Carnaby Inventory Holdings II, LLC, Carnaby Inventory III, LLC, Carnaby Inventory Holdings III, LLC, Patterson Inventory, LLC, Patterson Inventory Holdings, LLC, Starlight Inventory I, LLC and Starlight Inventory Holdings I, LLC each filed a voluntary petition for relief under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of Texas. Commencing on Sept. 28, 2025, First Brands Group, LLC and 98 affiliated debtors each filed a voluntary petition for relief under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of Texas. In its petition, First Brands Group listed $1 billion to $10 billion in estimated assets and $10 billion to $50 billion in estimated liabilities. The cases are pending before the Hon. Christopher M. Lopez, and are jointly administered under Case No. 25-90399, and consolidated for procedural purposes only. The Debtors tapped Weil, Gotshal and Manges, LLP as legal counsel; Lazard Freres & Co. as investment banker; Alvarez & Marsal North America, LLC as financial advisor; and C Street Advisory Group as strategic communications advisor. Kroll Restructuring Administration, LLC is the Debtors' claims, noticing and solicitation agent. Gibson, Dunn & Crutcher, LLP and Evercore serve as the Ad Hoc Group of Lenders' legal counsel and investment banker, respectively. The U.S. Trustee for Region 7 appointed an official committee to represent unsecured creditors in the Debtors' Chapter 11 cases. The Committee has hired M3 Advisory Partners, LP, as Financial Advisor; Cole Schotz P.C. as Efficiency and Local Counsel; and Brown Rudnick LLP as Co-Counsel. The U.S. Trustee has proposed Martin De Luca, Esq., at Boies Schiller Flexner LLP as Chapter 11 examiner. FLOOR AND DECOR: S&P Rates New $200MM Sr. Secured Term Loan 'BB' ---------------------------------------------------------------- S&P Global Ratings assigned its 'BB' issue-level rating and '3' recovery rating to Floor & Decor Holdings Inc.'s (FND; BB/Stable/--) proposed $200 million senior secured first-lien term loan due 2033. The '3' recovery rating indicates S&P's expectation for meaningful recovery (50%-70%; rounded estimate: 65%) in the event of a payment default. S&P said, "We expect the company will use the proceeds from the proposed term loan to refinance its existing $200 million senior secured term loan due February 2027 and pay transaction-related costs. We will withdraw our current issue-level rating on the existing term loan at close of the refinancing transaction." As part of the transaction, FND will also issue a new $800 million asset-based (ABL) facility (not rated) that will mature in 2031, replacing the current ABL facility, which matures in August 2027. The transaction extends FND's capital structure ahead of upcoming debt maturities and is leverage neutral. S&P's issuer credit rating on FND remains unchanged. S&P said, "We forecast FND's S&P Global Ratings-adjusted pro forma net leverage will increase to 2.4x in 2026, from 2.3x in 2025, reflecting a weaker operating outlook and share repurchase activity that reduces its cash balance. At the same time, we expect the company to generate approximately $100 million of free operating cash flow in 2026." While the rating retains some cushion at the current level, continued underperformance could result in further leverage deterioration, reducing the headroom to our 3x downside trigger. Issue Ratings--Recovery Analysis Key analytical factors -- Pro forma for the transaction, FND's capital structure will include an $800 million ABL facility due 2031 (not rated) and a $200 million senior secured term loan due 2033, which S&P rates 'BB'. The '3' recovery rating reflects S&P's expectation for meaningful (50%-70%; rounded estimate: 65%) recovery in a simulated bankruptcy or payment default. S&P said, "Our simulated default scenario contemplates a significant decline in consumer discretionary spending that leads to weakness in the home remodeling and housing markets. We also consider heightened competitive pressures from existing and new market entrants that pressure FND's traffic, causing it to employ discounting to support its sales. Because of this, the company's revenue and EBITDA decline substantially. "We assume FND would emerge from bankruptcy and value it on a going-concern basis by applying a 5x multiple to our projected emergence-level EBITDA. The 5x multiple is consistent with the multiples we use for its comparably rated peers." Simulated default assumptions -- Year of default: 2031 -- Emergence EBITDA: $123.3 million -- Implied enterprise value (EV) multiple: 5.0x -- Estimated gross EV at emergence: about $616 million Simplified waterfall -- Net EV (after 5% administrative costs): $585.6 million -- ABL credit facility claims: $452.1 million* -- First-lien secured term loan claims: $194.3 million* --Recovery expectations: 50%-70%; rounded estimate: 65% *All debt amounts include six months of prepetition interest. FORTUNA STONEWORKS: Taps Rountree Leitman Klein & Geer as Counsel ----------------------------------------------------------------- Fortuna Stoneworks, LLC seeks approval from the U.S. Bankruptcy Court for the Northern District of Georgia to employ Rountree, Leitman, Klein & Geer, LLC as counsel. The firm will render these services: (a) advise the Debtor with respect to its powers and duties; (b) prepare on behalf of the Debtor necessary legal papers; (c) assist in examination of the claims of creditors; (d) assist with formulation and preparation of the disclosure statement and plan of reorganization and with the confirmation and consummation thereof; and (e) perform all other legal services for the Debtor that may be necessary herein. The firm will be paid at these hourly rates: William Rountree, Attorney $645 Will Geer, Attorney $645 Michael Bargar, Attorney $555 Hal Leitman, Attorney $550 David Klein, Attorney $545 Ceci Christy, Attorney $475 Elizabeth Childers, Attorney $445 Shawn Eisenberg, Attorney $445 Jonathan Clements, Attorney $445 Caitlyn Powers, Attorney $425 AnnaClaire Bowman, Attorney $375 Dorothy Sideris, Paralegal $250 Natasha Smith, Paralegal $250 Catherine Williams, Paralegal $200 Ryley Jones, Paralegal $200 Megan Winokur, Paralegal $200 Legal Assistants $200 Law Clerk $200 The firm received a pre-petition retainer of $21,738 from the Debtor. Mr. Geer disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Will B. Geer, Esq. Rountree, Leitman, Klein & Geer, LLC Century Plaza I 2987 Clairmont Road, Suite 350 Atlanta, GA 30329 Telephone: (404) 584-1238 Email: wgeer@rlkglaw.com About Fortuna Stoneworks LLC Fortuna Stoneworks, LLC is a stone fabrication and installation company serving East Tennessee, North Alabama, and North Georgia. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ga. Case No. 26-40736) on May 4, 2026. In the petition signed by Partha Chakraborty, manager, the Debtor disclosed up to $10 million in both assets and liabilities. Will Geer, Esq., at Rountree, Leitman, Klein & Geer, LLC represents the Debtor as counsel. GEORGE AVE 2: Hires Wadsworth Garber Warner as Counsel ------------------------------------------------------ George Ave 2 LLC seeks approval from the U.S. Bankruptcy Court for the District of Colorado to employ Wadsworth Garber Warner Conrardy, P.C. as counsel. The firm will provide these services: a. preparation of all necessary reports, orders and other legal papers required in this chapter 11 case; b. performance of all legal services for Debtor as debtor-in-possession which may become necessary herein; and c. representation of Debtor in any litigation which Debtor determines is in the best interest of the estate whether in state or federal court(s). The firm will be paid at these rates: David V. Wadsworth $500 per hour Aaron A. Garber $500 per hour Aaron J. Conrardy $425 per hour Hallie Cooper $225 per hour Paralegals/Law Clerks $125 per hour The firm received a retainer in the amount of $26,173 from Shanor & Franklin LLC. From the date of its employment through the Petition Date, WGWC billed $1,912.50 in attorneys' fees and $1,738 in costs for bankruptcy related services. In addition, the firm will seek reimbursement for its out-of-pocket expenses. David V. Wadsworth, 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 V. Wadsworth, Esq. Wadsworth Garber Warner Conrardy, P.C 2580 West Main Street, Suite 200 Littleton, CO 80120 Tel: (303) 296-1999 Fax: (303) 296-7600 Email: dwadsworth@wgwc-law.com About George Ave 2 LLC George Ave 2 LLC is a real estate holding company that owns residential properties in Erie, Colorado, including properties at 224 and 228 Briggs Street and 515 Pierce Street. George Ave 2 LLC sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. Co., LA. Case No. 26-13754) on May 27, 2026. In its petition, the Debtor reports estimated assets $2,448,160 and estimated liabilities $2,583,230. Honorable Bankruptcy Judge Hon. Thomas B McNamara handles the case. The Debtor is represented by David V. Wadsworth, Esq. of WADSWORTH GARBER WARNER CONRARDY, P.C. GLOBAL COMMUNITY: S&P Affirms 'B+' Long-Term Rating on 2022 Bonds ----------------------------------------------------------------- S&P Global Ratings affirmed its 'B+' long-term rating on the Build NYC Resource Corp.'s series 2022 bonds, issued for Friends of GCCS Inc. on behalf of Global Community Charter School (GCCS), New York. The outlook is negative. S&P said, "In our view, GCCS faces elevated social capital risk due to the declines in student-aged population in its service area and an increasingly competitive landscape for students in its market. Given the recent trend of enrollment declines, we believe these factors could further pressure enrollment, though management indicated it is working on revamping its marketing and recruiting strategy to stabilize enrollment. "In addition, we view GCCS as having elevated governance risks surrounding the school's risk management, culture, and oversight, as reflected in its multiple years of covenant violations with the DSC and days' cash on hand (DCOH) covenants missed in fiscal 2024, and the DCOH covenant missed in fiscal 2023 and fiscal 2025. Although management notes the DCOH violations have been due in part to delayed timing of receivables, and its fiscal 2026 cash is expected to exceed the covenant, we continue to view the recurring covenant breaches as an elevated risk. We will continue to monitor GCCS' progress and ability to improve the school's covenant compliance standing. "Data from S&P Global Sustainable1 demonstrates that GCCS, which is located in New York County, faces elevated physical risks due to coastal and river flooding compared with the rest of the U.S. We believe these could become a material influence on our view of creditworthiness if flood exposure or events intensify over the next few years and existing infrastructure is challenged. However, we currently view the low age of plant, location in a more inland part of the city, and property insurance as somewhat mitigating factors and consider the physical risk exposure as neutral in our credit rating analysis. "The negative outlook reflects our view of continued enrollment declines that, if they persist, could notably decrease rental assistant payments. In our view, if enrollment continues to decline such that reduced rental assistant payments constrain operations, management has limited flexibility to adjust operations, which could affect its ability to meet financial covenant requirements and could result in a lower rating over the one-year outlook period. We also view the escalating lease payment obligations in the face of enrollment pressures and an upcoming charter renewal in 2027 as risks. "We could consider a lower rating if enrollment declines persist or if the school is unable to improve financial metrics such that it fails to meet financial covenant requirements. Any unexpected changes regarding the charter standing with the authorizer would be viewed negatively. "We could consider revising the outlook to stable if GCCS can stabilize enrollment, while generating financial metrics in line with required bond covenants and maintaining a positive relationship with its authorizer amid the upcoming charter renewal process in June 2027." GLOO HOLDINGS: Raises Fiscal 2026 Revenue Guidance to $195 Million ------------------------------------------------------------------ Gloo Holdings, Inc. raised its fiscal 2026 revenue guidance to $195 million after reporting first-quarter revenue growth of 238%, according to a press release included in a Form 8-K filed with the Securities and Exchange Commission. The Boulder, Colo.-based company reported revenue of $41.5 million for the quarter ended April 30, compared with $12.3 million a year earlier. Net loss narrowed to $17.1 million from $27 million in the prior-year period. Adjusted EBITDA was negative $11.5 million, compared with negative $18.6 million in the fourth quarter of 2025. Gloo said it expects second-quarter revenue of $44 million and adjusted EBITDA of negative $8.5 million. The company also said it continues to expect to approach adjusted EBITDA breakeven in the third quarter of 2026 and achieve adjusted EBITDA profitability in the fourth quarter. About Gloo Holdings Gloo, Inc. provides technology platform and AI infrastructure for the faith and flourishing ecosystem, serving churches, ministries, nonprofits, Christian faith leaders, and network catalyst partners. The company offers Powering Tech solutions for technology systems, data, workflows, communication tools, content libraries, data insights, and AI capabilities, as well as Powering Reach solutions for media, marketing, fundraising, advertising, and engagement. Gloo generates revenue through subscriptions, marketplace transactions, advertising, and platform solutions, including e-commerce marketplaces such as Outreach, Inc. Its Applied AI capabilities are designed to support operations, workflows, and mission-critical activities across faith-based and nonprofit organizations. In an audit report dated April 15, 2026, Crowe LLP included a going concern paragraph stating that the Company has suffered recurring operating losses, negative cash flows, has limited liquid resources, and is dependent on external financing, which raise substantial doubt about its ability to continue as a going concern. The company reported total assets of $239 million, total liabilities of $94.63 million and total stockholders' equity of $140.71 million as of April 30, 2026. GOHEALTH INC: Seeks to Tap Donlin Recano & Company as Claims Agent ------------------------------------------------------------------ GoHealth, Inc. and its affiliates seek approval from the U.S. Bankruptcy Court for the District of Delaware to employ Donlin, Recano & Company, LLC as claims and noticing agent. Donlin, Recano & Company will oversee the distribution of notices and will assist in the maintenance, processing, and docketing of proofs of claim filed in the Chapter 11 cases of the Debtors. Prior to the petition date, the Debtors provided Donlin an advance in the amount of $20,000. In addition, on May 15, 2026, Donlin received $10,095.10 for pre-petition services rendered, and on June 3, 2026, the firm received $15,059.66 for pre-petition services rendered. Lisa Terry, a member at Donlin, Recano & Company, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Lisa Terry Donlin, Recano & Company, LLC P.O. Box 2053 New York, NY 10272 About GoHealth Inc. 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. GoHealth Inc. and its affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Lead Case No. 26-10914) on June 7, 2026. In its petition, GoHealth 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 Debtors are represented by Laura Davis Jones, Esq., and Edward A. Corma, Esq., at Pachulski, Stang, Ziehl & Jones LLP. Donlin, Recano & Company, LLC is the Debtors' claims and noticing agent. GREEN VILLA: Seeks to Hire DeMarco Mitchell as Bankruptcy Counsel ----------------------------------------------------------------- Green Villa Investments, LLC seeks approval from the U.S. Bankruptcy Court for the Northern District of Texas to employ DeMarco Mitchell, PLLC as counsel. The firm will render these services: (a) take all necessary action to protect and preserve the estate; (b) prepare on behalf of the Debtor all necessary legal papers in connection with the administration of the estate; (c) formulate, negotiate, and propose a plan of reorganization; and (d) perform all other necessary legal services in connection with these proceedings. The firm's counsel will be paid at these hourly rates: Robert DeMarco, Attorney $500 Michael Mitchell, Attorney $300 Barbara Drake, Paralegal $125 In addition, the firm will seek reimbursement for expenses incurred. The firm received a retainer of $12,000 from the Debtor. Mr. DeMarco disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Robert T. DeMarco, Esq. DeMarco Mitchell, PLLC 12770 Coit Road, Suite 850 Dallas, TX 75251 Telephone: (972) 991-5591 Facsimile: (972) 346-6791 Email: mike@demarcomitchell.com About Green Villa Investments LLC Green Villa Investments, LLC operates as a commercial real estate and investment-focused business entity. Green Villa Investments sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Tex. Case No. 26-42136) on May 15, 2026, listing up to $10 million in both assets and liabilities. Judge Edward L. Morris oversees the case. The Debtor is represented by Robert Thomas DeMarco, Esq., at DeMarco Mitchell, PLLC. GREYHOUND ARAMINGO: Leona Mogavero Named Subchapter V Trustee ------------------------------------------------------------- The U.S. Trustee for Regions 3 and 9 appointed Leona Mogavero, Esq., at Zarwin Baum as Subchapter V trustee for Greyhound Aramingo Petroleum Co., Inc. Ms. Mogavero will be paid an hourly fee of $450 for her services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Ms. Mogavero declared that she is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Leona Mogavero, Esq. Zarwin Baum One Commerce Square 2005 Market Street, 16th Floor Philadelphia, PA 19103 Phone: (267) 765-9630 Email: lmogavero@zarwin.com About Greyhound Aramingo Petroleum Co. Inc. Greyhound Aramingo Petroleum Co., Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Pa. Case No. 26-12387) on June 1, 2026, with $1,000,001 to $10 million in assets and liabilities. Judge Derek J. Baker presides over the case. Albert Anthony Ciardi, III, Esq. at Ciardi Ciardi & Astin represents the Debtor as legal counsel. HAK ENTERPRISES: Creditors to Get Proceeds From Liquidation ----------------------------------------------------------- HAK Enterprises LLC filed with the U.S. Bankruptcy Court for the Northern District of Indiana a Plan of Liquidation dated June 1, 2026. The Debtor is an Indiana limited liability company. It was originally formed in 2013 by Harry Kilmer of Wabash, Indiana. The business operated as a bar and restaurant. The Debtor's financial difficulties began in 2018 as a result of being unable to find sufficient employees. The financial issues worsened in 2020 when the Debtor experienced a significant decrease in customers and experienced greater difficulty in finding employees following the COVID-19 pandemic. The cost of materials also increased, resulting in slimmer margins. Following the pandemic, Debtor was unable to return to prepandemic customer and employee numbers. As a result of the financial difficulties and closure of the business, Debtor filed Chapter 11 on January 5, 2026. Debtor is pursuing an orderly liquidation of the assets of the business for distribution to creditors according to the herein proposed plan. As part of that process, Debtor intends to employ Auctioneer Krueckeberg Auction and Realty, or such other reputable, disinterested auctioneer, upon confirmation of the Debtor's Plan for anticipated disposition of the remaining personal property of the Debtor. The Debtor scheduled interest in the real estate located at 1633 Stitt Street, Wabash, IN 46992. Although scheduled at $350,000.00 in value, the real estate has lost value since the business ceased operating and the loss of the liquor license associated therewith. The defendant in the pending adversary proceeding has provided to Debtor an appraisal setting forth that the real estate was appraised on March 25, 2026, and valued at $160,000.00. The Debtor's plan is premised upon liquidation of assets for funds to make distribution to creditors pursuant to Bankruptcy Code priorities. Class 4 consists of Unsecured, Non-Priority Claims. The Allowed Claims of this Class shall be paid on a pro rata basis from any remaining proceeds of the estate after Classes 1, 2, and 3 have been paid in full as soon as is practicable after Confirmation of the Plan. Class 5 consists of Interest Holders. This Class shall receive the balance of the Liquidation Proceeds, if any, that remain after the Allowed Claims of Classes 1 through 4 have been paid in full. The Debtor, with the assistance of its counsel, shall proceed immediately upon Confirmation of the Plan with the sale of all its assets and the collection of net proceeds therefrom, the proceeds of which (the Liquidation Proceeds) shall be remitted to the Disbursing Agent for distribution pursuant to the Plan. The Debtor's tangible assets shall be sold by auction by a licensed auctioneer (unless other sale method is authorized by the Court as to any one or more items) as soon as can be practicably scheduled. A full-text copy of the Liquidating Plan dated June 1, 2026 is available at https://urlcurt.com/u?l=dkLF5C from PacerMonitor.com at no charge. Counsel to the Debtor: H. Faith Welch, Esq. Scot T. Skekloff, Esq. HALLERCOLVIN PC 444 East Main Street Fort Wayne, Indiana 46802 And Daniel L. Freeland, Esq. 9105 Indianapolis Blvd. Highland, Indiana 46320 About HAK Enterprises LLC HAK Enterprises LLC is a limited liability company. HAK Enterprises LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-30003) on January 5, 2026. In its petition, the Debtor reports estimated assets between $100,001 and $1,000,000 and estimated liabilities between $0 and $100,000. The Debtor is represented by Heather Faith Welch, Esq. of Hallercolvin, P.C. HAMM RE PARTNERS: Case Summary & Three Unsecured Creditors ---------------------------------------------------------- Debtor: Hamm RE Partners LLC 22815 Ventura Blvd Woodland Hills, CA 91364 Business Description: Hamm RE Partners LLC is a Woodland Hills, California-based real estate investment company whose primary asset is a single-family residential property at 4434 Verdiccio Avenue in Las Vegas. Chapter 11 Petition Date: June 9, 2026 Court: United States Bankruptcy Court District of Nevada Case No.: 26-13628 Debtor's Counsel: Seth D Ballstaedt, Esq., Esq. FAIR FEE LEGAL SERVICES 8751 W Charleston Blvd #230 Las Vegas, NV 89117 Tel: (702) 715-0000 Fax: (702) 666-8215 Email: help@bkvegas.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Bianca Torsarkissian as managing member. A full-text copy of the petition, which includes a list of the Debtor's three unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/CYMMFVQ/HAMM_RE_PARTNERS_LLC__nvbke-26-13628__0001.0.pdf?mcid=tGE4TAMA HAMM RE: Seeks Subchapter V Bankruptcy in Massachusetts ------------------------------------------------------- On June 9, 2026, Blue Ivy, 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 $1 million and $10 million in debt owed to approximately 1–49 creditors. Subchapter V reorganization plan must be submitted by September 8, 2026. About Blue Ivy, LLC Blue Ivy, LLC is a Massachusetts-based limited liability company engaged in business operations and investment activities. The company manages commercial interests and related assets. Blue Ivy, LLC sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-11363) on June 9, 2026. In its petition, the Debtor reported estimated assets of $1 million–$10 million and estimated liabilities of $1 million–$10 million. Honorable Bankruptcy Judge Janet E. Bostwick handles the case. The Debtor is represented by Conner B. Verreaux, Esq., of Murphy & King, P.C. HAWAII MOLD: HMF Unsecureds to Get Share of Income for 3 Years -------------------------------------------------------------- Hawaii Mold and Flood, LLC, ("HMF") and Glen Kelsey filed with the U.S. Bankruptcy Court for the District of Hawaii a Joint Small Business Plan of Reorganization dated June 2, 2026. Glen Kelsey has lived on the island of Hawaii since he was 13 years old. He is a resident of Kona, Hawaii, and holds a general contractor's license as well as a C-19 license for asbestos remediation. Mr. Kelsey is the sole owner of HMF which he founded in 2017. HMF performs mold and water remediation services, primarily on Hawaii island but also on Oahu where it provides renovation work for Fannie Mae repossessed properties. Mr. Kelsey serves as the RME (responsible managing employee) for HMF. HMF operates from a primary warehouse in Kona warehouse which it subleased from Kuakini Commercial Ventures ("KCV"), pursuant to a Sublease Agreement (the "Lease") dated March 26, 2024. The Lease expires in 2042, and provides for base rent of approximately $2,000. On April 17, 2023, the Larsson Parties commenced an action against HMF and Kelsey in the Circuit Court for the Third Circuit, styled Larsson vs Hawaii Mold and Flood, LLC, 3CCV-23-0000148 (the "Lawsuit"). The Lawsuit arose primarily from an alleged breach of an oral contract involving HMF and also asserted claims for intentional misrepresentation and other causes of action. On January 2, 2026, the Third Circuit Court entered an amended final judgment in favor of the Larsson Parties in the amount of $1,733,225.16. HMF and Kelsey have appealed the amended final judgment to the Intermediate Court of Appeals, in case number CAAP-26-0000053. Class 8 consists of General Unsecured Claims against HMF. The allowed unsecured claims total $191,134 (excluding Larsson Parties' claims. All Allowed General Unsecured Claims shall be paid by HMF pro rata in semiannual installments over a three-year period from any Disposable Income commencing on the First Distribution Date to the Last Distribution Date, provided, however, that Notwithstanding any other provision of this Plan, no distributions shall be made to the Larsson Parties pending resolution of HMF's preference action against them. Any distributions payable to the Larsson Parties shall be held by the Reorganized Debtor in a segregated, interest-bearing account pending final resolution of the preference action. If the Bankruptcy Court enters a Final Order determining that the transfer is avoidable, no distribution shall be made to the Larsson Parties unless and until they have fully returned the avoided transfer, including any garnished funds, or released any avoided judgment lien, as applicable. Upon their compliance with such Final Order, the creditor shall be entitled to receive any distributions then payable under the Plan. If the avoidance action is resolved in favor of the creditor by Final Order, the segregated funds shall be distributed to the creditor in accordance with the Plan. Class 9 consists of General Unsecured Claims against Kelsey. The allowed unsecured claims total $44,000 (excluding Larsson Parties' claims). All Allowed General Unsecured Claims shall be paid by Kelsey pro rata in semiannual installments over a five-year period from any Disposable Income commencing on the First Distribution Date to the Last Distribution Date, provided, however, that Notwithstanding any other provision of this Plan, no distributions shall be made to the Larsson Parties pending resolution of HMF's preference action against them. Any distributions payable to the Larsson Parties shall be held by the Reorganized Debtor in a segregated, interest-bearing account pending final resolution of the preference action. If the Bankruptcy Court enters a Final Order determining that the transfer is avoidable, no distribution shall be made to the Larsson Parties unless and until they have fully returned the avoided transfer, including any garnished funds, or released any avoided judgment lien, as applicable. Upon their compliance with such Final Order, the creditor shall be entitled to receive any distributions then payable under the Plan. If the avoidance action is resolved in favor of the creditor by Final Order, the segregated funds shall be distributed to the creditor in accordance with the Plan. The Plan will be funded by the proceeds realized from the operations of the Debtors. On Confirmation of the Plan, all property of the HMF and Kelsey, respectively, tangible and intangible, including, without limitation, will revert, free and clear of all Claims and Equitable Interests except as provided in the Plan, to the HMF and Kelsey, respectively. A full-text copy of the Joint Plan dated June 2, 2026 is available at https://urlcurt.com/u?l=VGxyAR from PacerMonitor.com at no charge. Attorneys for Glen Kelsey: CHOI & ITO Attorneys at Law Chuck C. Choi, Esq. Allison A. Ito, Esq. 700 Bishop Street, Suite 1107 Honolulu, Hawaii 96813 Telephone: (808) 533-1877 Fax: (808) 566-6900 Email: cchoi@hibklaw.com aito@hibklaw.com Attorneys for Hawaii Mold and Flood LLC: TSUGAWA LAU & MUZZI LLLC Christopher J. Muzzi, Esq. 55 Merchant Street, Suite 300 Honolulu, Hawaii 96813 Telephone No.: (808) 531-0490 Facsimile No.: (808) 534-0202 E-Mail: cmuzzi@hilaw.us About Hawaii Mold and Flood LLC Hawaii Mold and Flood, LLC performs mold and water remediation services, primarily on Hawaii island but also on Oahu. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Hawaii Case No. 26-00144) on Feb. 20, 2026. In the petition signed by Glen Kelsey, sole member, the Debtor disclosed up to $1 million in assets and up to $10 million in liabilities. Judge Robert J. Faris oversees the case. Chuck C. Choi, Esq., at Choi & Ito, represents the Debtor as legal counsel. HIGH WIRE: Raises $34K Through Series G Preferred Stock Issuance ---------------------------------------------------------------- High Wire Network, Inc. announced in a regulatory filing that it entered into a Securities Purchase Agreement with GHS Investments, LLC. The Initial Closing occurred on June 1, 2026. Pursuant to the Agreement, at the initial closing, the Company agreed to sell, and the Purchaser agreed to purchase, 34 shares of the Company's Series G Preferred Stock at a purchase price of $1,000 per share, for an aggregate subscription amount of $34,000. In addition, at the Initial Closing, the Company issued to the Purchaser 12 shares of restricted Series G Preferred Stock as an equity incentive, for a total of 46 shares of Series G Preferred Stock issued at the Initial Closing. Each share of Preferred Stock has a stated value of $1,200 per share and is convertible into shares of the Company's common stock, in accordance with the terms of the Certificate of Designation of the Series G Preferred Stock. The Agreement also provides for additional closings pursuant to which the Company may sell, and the Purchaser may purchase, up to an additional 70 shares of Preferred Stock at a price of $1,000 per share, upon mutual consent of the parties and satisfaction of applicable conditions, including that no Event of Default has occurred or is continuing. The Preferred Stock accrues dividends at a rate of 12% per annum on the stated value, payable quarterly, at the Company's discretion, in cash or in additional shares of Preferred Stock. The Company is obligated to redeem the Preferred Stock in accordance with the Certificate of Designation. Upon an Event of Default, all outstanding Preferred Stock becomes immediately due for redemption at an amount equal to 135% of the sum of the stated value, all accrued but unpaid dividends, and all other amounts due under the Agreement and the Certificate of Designation, with dividends accruing on the redemption amount at the lesser of 15% per annum or the maximum legal rate. The Agreement contains customary representations and warranties of the Company, including representations and warranties regarding the Company's organization and qualification, authorization and enforceability of the Transaction Documents, absence of conflicts, capitalization, valid issuance of the Securities, compliance with law, material permits, intellectual property, insurance, SEC reporting obligations, and absence of material litigation. A full text copy of the Agreement is available at https://tinyurl.com/e23hjm8z. The schedules and exhibits to the Agreement have been omitted pursuant to Item 601(a)(5) of Regulation S-K. The Company hereby undertakes to furnish supplementally copies of any of the omitted schedules and exhibits upon request by the U.S. Securities and Exchange Commission. The shares of Series G Preferred Stock and the Equity Incentive issued to the Purchaser were not registered under the Securities Act of 1933, as amended, and were issued in reliance on the exemption from registration afforded by Section 4(a)(2) of the Securities Act and Rule 506 of Regulation D promulgated thereunder, as transactions by an issuer not involving a public offering. The Purchaser represented that it is an "accredited investor" as defined in Rule 501(a) under the Securities Act and that it is acquiring the Securities for its own account and not with a view to distribution. About High Wire High Wire Network, Inc., incorporated on Jan. 20, 2017, is a global provider of managed cybersecurity, managed networks, and tech-enabled professional services delivered exclusively through a channel sales model. The Company's Overwatch managed security platform-as-a-service offers organizations end-to-end protection for networks, data, endpoints, and users via multiyear recurring revenue contracts in this fast-growing technology segment. HWN has continuously operated under the High Wire Networks brand for 23 years. Draper, Utah-based Sadler, Gibb & Associates, LLC, the Company's auditor since 2014, issued a "going concern" qualification in its report dated March 31, 2025, attached to the Company's Annual Report on Form 10-K for the year ended December 31, 2024, citing that the Company has incurred losses since inception, has negative cash flows from operations, and has negative working capital, which creates substantial doubt about its ability to continue as a going concern. As of September 30, 2025, the Company had $1.23 million in total assets, $7.40 million in total liabilities, and a total stockholders' deficit of $6.17 million. HOMESTEAD VILLAGE: Seeks to Hire Colliers Paragon as Estate Broker ------------------------------------------------------------------ Homestead Village, LLC seeks approval from the U.S. Bankruptcy Court for the District of Idaho to employ Colliers Paragon, LLC as real estate broker. The Debtor needs an agent to market and sell its property located at 1717 Element Lane, City of Sandpoint, County of Bannock, Idaho. The firm will receive a commission of 3 percent of the gross sales price of the property or a fixed compensation of $75,000 in the event the lender or beneficiary acquires the property through a credit bid at foreclosure sale or otherwise. Jim Shipman, a managing partner and designated broker at Colliers Paragon, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Jim Shipman Colliers Paragon, LLC P.O. Box 7248 Boise, ID 83707 Telephone: (208) 345-9000 About Homestead Village LLC Homestead Village, LLC is a real estate development and property management company engaged in the ownership and operation of residential community properties. Homestead Village, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Idaho Case No. 26-20047) on February 10, 2026. In its petition, the Debtor reports estimated assets between $10 million and $50 million and estimated liabilities between $10 million and $50 million. Honorable Bankruptcy Judge Noah G. Hillen handles the case. The Debtor is represented by Mauricio Cardona, Esq., at Davillier Law Group. Freedom REIT, as secured creditor, is represented by Brian M. Rothschild, Esq. at Parsons Behle & Latimer. HOWARD HUGHES: S&P Raises Senior Unsecured Debt Rating to 'BB+' --------------------------------------------------------------- S&P Global Ratings raised its issue-level rating on U.S. real estate developer Howard Hughes Holdings Inc.'s senior unsecured debt to 'BB+' from 'BB-. S&P also revised the recovery rating to '4' from '2'. At the same time, S&P raised its issue-level rating on Howard Hughes Corp.'s senior unsecured debt to 'BB+' from 'BB-. S&P also revised the recovery rating to '4' from '2'. The stable outlook reflects S&P's expectations for Howard Hughes to remain a long-term holding of Pershing Square and important to Pershing Square's investment strategy over the next 12 months. Howard Hughes acquired Bermuda-based insurer Vantage Group Holdings Ltd. for approximately $2.1 billion. Howard Hughes' credit profile will benefit from more-stable cash flow derived from a business that is not correlated to the cyclical real estate sector. Furthermore, S&P's ratings reflect its view that Howard Hughes and its real estate development subsidiary Howard Hughes Corp. would receive a degree of support from Pershing Square Inc. and its affiliates, that together own a plurality of Howard Hughes shares. The acquisition marks the first investment aligned with Pershing Square's strategy to transform Howard Hughes into a diversified holding company. Howard Hughes funded the $2.1 billion purchase with $1.2 billion of cash from its balance sheet and $1 billion of non-interest-bearing preferred stock issued by Howard Hughes to Pershing Square affiliate Pershing Square Holdings Ltd. S&P expects Howard Hughes to acquire controlling interests in other operating companies over time using capital from its real estate and insurance businesses and, perhaps, funds provided by Pershing Square and affiliates. That said, S&P is not aware of imminent acquisitions. Vantage Group is well-capitalized, and its insurance business is generally more stable and predictable relative to Howard Hughes Corp.' real estate development and real estate operating businesses. These legacy businesses have historically been capital-intensive and prone to the cyclical swings of the residential and commercial real estate industries. Howard Hughes Corp. had also been highly leveraged, with S&P Global Ratings-adjusted debt to EBITDA typically well above 5x. S&P said, "We expect the real estate business to exercise a more conservative capital allocation strategy going forward and for leverage at subsidiary Howard Hughes Corp. to be closer to 5.5x over the next two years. Leverage at Howard Hughes will be higher because we treat the newly issued preferred stock as debt because the company retains the right to call the preferred stock annually. "In our opinion, Howard Hughes is likely to benefit from a measure of support provided by Pershing Square and its affiliates. Pershing Square Inc. and various Pershing Square funds hold a combined 47% share of Howard Hughes' common stock. Pershing Square's CEO Bill Ackman and its CIO Ryan Israel both sit on the Howard Hughes board of directors, with Mr. Ackman serving as chairman. Mr. Israel also serves as Howard Hughes' CIO. We believe the plurality ownership and leadership positions afford Pershing Square significant influence over Howard Hughes' strategy and disposition of its cash flow. "The stable outlook reflects our view that Howard Hughes will remain a long-term holding of Pershing Square and important to its investment strategy over the next 12 months. Further, the stable outlook on subsidiary Howard Hughes Corp. reflects our opinion that it will remain core to Howard Hughes, with cash flow from the real estate subsidiary earmarked for growth in the insurance subsidiary and, eventually, new portfolio companies." S&P could lower the ratings if: -- S&P no longer views it as a long-term holding of strategic importance to Pershing Square and its core funds; or -- S&P's view of Pershing Square's credit worthiness worsens over the next 12 months. S&P could raise the rating if Howard Hughes's operating subsidiaries perform well and if its view of Pershing Square's creditworthiness improves. HUBBARD INGREDIENTS: Taps McCormack of Marshall & Stevens as CRO ---------------------------------------------------------------- Hubbard Ingredients, LLC seeks approval from the U.S. Bankruptcy Court for the District of Kansas to employ Bradley D. McCormack of Marshall & Stevens as chief restructuring officer. The firm will provide these services: a. review, analyze and develop the reporting format for a 4-month lookback of cash receipts and disbursements in order to evaluate and develop a 13-Week Cash Forecast Budget; b. work with the Companies' financial personnel to prepare a 13-Week Cash Forecast Budget; c. institutionalize a cash management oversight system which is directed by rolling 13- Week Cash Forecast/Budget with related working capital collateral (AR and inventory) budgets/forecasts; institute a budget to actual tracking and comparison reporting system; d. extend the 13-Week Cash Forecast/Budget into a longer-term plan of refinancing/ restructuring, feasibility and creditor payout assessment; develop a repayment plan(s) for secured and unsecured debt obligations; e. report to stakeholders any non-recurring or nonbudgeted material financial transfers, transactions or agreements that may impact the Companies' financial condition; f. develop a comprehensive and global refinancing/restructuring plan for the Companies explaining, in detail, the specific steps each Company will take to implement its repayment plan for secured and unsecured debt obligations, including supporting materials for all proposed financial models, a detailed analysis of repo inventory (see below), and any impacts of that plan on floor plan inventory repayment obligations/related cash flows; g. prepare detailed evaluation of the relevant Companies' intercompany and affiliate service transactions for commercial reasonableness of the values provided, paid and/or exchanged; h. evaluate a realizable range of values for assets and prioritizing obligations to assess alternatives which maximize the recovery and returns to Stakeholders; i. provide capital sourcing services to identify and obtain alternative sources of new, replacement, bridge and/or junior funding ("Transaction") in an out-ofcourt and/or court supervised transaction; j. provide oversight of personnel and facilitation of information required to complete a Transaction; k. conduct ongoing, routine communications with the Companies' lenders including periodic reviews of each Company's performance and progress towards achieving debt refinancing, while maintaining repayments through continued cash flow and collateral crisis management and/or a Transaction; l. provide oversight direction on prioritization of workflow objectives for the controller and related financial management, accounting bookkeeper and administrative support personnel; m. evaluate asset values and collateral values pledged by each Company utilizing different operating and/or liquidity event alternatives in order to restructure the obligations due lenders; n. prepare various term sheets, outlines and/or summaries for review by each Company's management and counsel which set forth one or more options to stabilize the financial condition and liquidity position and/or restructure the debt obligations; o. conduct communications with vendors, contractors and suppliers that have past due obligations in order to bridge repayment plans with a Transaction; p. review financial and operating controls, processes and procedures to identify opportunities for improvement ("OFI") and to improve integration with financial management; q. review personnel and other overhead operating costs in order to develop recommendations for OFI's which right-size the overhead burden and/or reduce costs; r. preparation and compilation of appropriate reports to be utilized with stakeholders; s. CRO shall provide such other services as requested or directed by the Board of Members, Managing Members and/or a governing body for the Companies and agreed to by the CRO; and t. CRO will provide certain additive and supplemental services during an undertaken bankruptcy proceeding. Marshall & Stevens will receive compensation at the rate of $15,000 per bi-week (semi-monthly) period, plus standard rates for staff in excess of 30 hours per period. The engagement includes a $100,000 deposit and a success fee of 3.5% for CRO-introduced capital funding sources or 1.5% for other funding sources. M&S will also be reimbursed for reasonable out-of-pocket expenses. In addition, the firm will seek reimbursement for its out-of-pocket expenses. Mr. McCormack, 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: Bradley D. McCormack, Esq. Sader Law Firm, LLC 2345 Grand Boulevard, Suite 2150 Kansas City, MO 64108 Tel: (816) 561-1818 Fax: (816) 561-0818 Email: bmccormack@saderlawfirm.com About Hubbard Ingredients, LLC Hubbard Ingredients, LLC is a food ingredients and agricultural products company engaged in the sourcing, processing, and distribution of ingredients for commercial customers. Hubbard Ingredients, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-20802) on May 27, 2026. In its petition, the Debtor reports estimated assets between $10 million and $50 million and estimated liabilities between $10 million and $50 million. Honorable Chief Bankruptcy Judge Dale L. Somers handles the case. The Debtor is represented by Bradley D. McCormack, Esq., of The Sader Law Firm. INDITEX VENTURES: Claims to be Paid from Disposable Income ---------------------------------------------------------- IndiTex Ventures LLC filed with the U.S. Bankruptcy Court for the Southern District of Texas a Small Business Plan of Reorganization under Subchapter V dated June 1, 2026. The Debtor is a limited liability company formed and organized under the laws of the State of Texas on January 8, 2021, by Leticia Hess and Don Hess, with the help of investors, Prajkta Mulay and Pritam Mulay. The Hesses and Mulays organized the company where it would be a single-member LLC owned by ITV, LP, a Texas limited partnership, composed of the Hesses and Mulays as limited partners and DLLP Management, Inc. as the general partner. The Company has operated at all times as a franchisee of Pet Supplies Plus, which provides retail sales of pet food and related products and provides grooming services. The Debtor has approximately nine full-time employees; one part-time employee; and two employees on commission who provide pet grooming services. It leases approximately 6,257 square feet of space in the Braes Heights Shopping Center, located at 3851 Bellaire Blvd., Houston, TX 77025. This Plan will allow the Debtor to sustain its future business and allow it to continue serving its community and contributing to the local economy. The Debtor projects that it will have the requisite income and cash flow to pay all allowed administrative, priority, and unsecured claims within the 36-month period following confirmation of a plan. Thus, the Debtor will have projected disposable income of $820,362.22. The final Plan payment is expected to be paid no later than the end of the 36th month following confirmation of the Plan. This Plan of Reorganization proposes to pay creditors of the Debtor from from a restructuring of the Debtor's secured debt obligations and from future income from its business operations. Class 5 consists of General Unsecured Claims. Holders of Allowed Claims in Class 5 shall receive a pro rata share of a quarterly payment of $22,132.90. These payments will be paid starting on the last day of Month 3 and continue through Month 36. Holders of Allowed Claims in Class 5 shall receive no interest. This Class is impaired. Class 5 consists of the equity interests of the Debtor's Member, ITV, L.P. As a result of confirmation of this Plan, ITV, L.P. will retain his membership interest in the Debtor; however, neither it, nor any other Insider, be entitled to receive any distribution of dividends or accumulated earnings or profits until the occurrence of both: (1) the distribution of all amounts due to holders of Allowed Claims in Classes 1 through 4 and (2) the Debtor receiving a discharge under Section 1192 of the Bankruptcy Code. Assumption of both the lease and franchise agreement, as described in Section VI(A) is critical to the Debtor's reorganization. If either the lease or franchise agreement cannot be assumed, reorganization under this Plan cannot occur. In addition to the sale of its real property, the Debtor will pay its future Disposable Income to the satisfaction of the Allowed Claims provided for in this Plan for a period of 36 months following the Effective Date. The Debtor projects that its Disposable Income for the 36 months following confirmation will be $820,362.22, and the Debtor commits to making this payment of Disposable Income during the term of this Plan. A full-text copy of the Subchapter V Plan dated June 1, 2026 is available at https://urlcurt.com/u?l=fe4olZ from PacerMonitor.com at no charge. Counsel to the Debtor: Leonard H. Simon, Esq. William P. Haddock, Esq. PENDERGRAFT & SIMON, LLP 2777 Allen Parkway, Suite 800 Houston, TX 77019 Telephone: (713) 528-8555 Facsimile: (713) 868-1267 About IndiTex Ventures LLC IndiTex Ventures, LLC operates a Pet Supplies Plus franchise in Houston, Texas, providing retail pet products and grooming services. The Debtor filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. S.D. Texas Case No. 26-31376) on March 1, 2026. In the petition signed by Leticia Hess, manager, the Debtor disclosed up to $50,000 in assets and up to $1 million in liabilities. Judge Jeffrey P. Norman oversees the case. William Haddock, Esq., at Pendergraft & Simon LLP, represents the Debtor as legal counsel. INOTIV INC: Secures $65.4MM DIP Loan for Chapter 11 Restructuring ----------------------------------------------------------------- Inotiv, Inc. announced in a regulatory filing that the Company and certain of its direct and indirect subsidiaries, intend to implement a comprehensive restructuring of the Company's debt obligations and capital structure in accordance with a Restructuring Support Agreement with certain of its key creditors. The Restructuring is expected to reduce the Company's total funded debt obligations by approximately $326 million through a conversion of a substantial portion of the Company's funded debt obligations into equity of the reorganized Company, and to reduce the Company's annual cash interest expense by providing the Company with a simplified capital structure on the Plan Effective Date. In connection with the Restructuring, the Company will also obtain a debtor-in-possession financing facility to fund operations during the pendency of the Chapter 11 Cases, which will be rolled into a first lien exit financing facility upon emergence. The Restructuring Support Agreement contemplates implementing the Restructuring through a consensual, joint prepackaged plan of reorganization of the Company Parties in voluntary cases filed on June 3, 2026, pursuant to chapter 11 of title 11 of the United States Code. Holders of substantial majorities of the Company's prepetition first lien loans, second lien PIK notes, and unsecured convertible notes, have all entered into the Restructuring Support Agreement agreeing to support the Restructuring, and voted in favor of the Restructuring and the Plan substantially contemporaneously with signing the Restructuring Support Agreement as part of the Company Parties' prepetition solicitation of votes on the Plan. The Company does not expect any adverse operational impact from the Restructuring and plans to continue to operate and pay vendors and employees in the ordinary course of business as "debtors in possession" under the jurisdiction of the United States Bankruptcy Court for the Southern District of Texas in accordance with the applicable provisions of the Bankruptcy Code and orders of the Bankruptcy Court. The Company expects to emerge from the Chapter 11 Cases as a private company within 50 days. Restructuring Support Agreement On June 2, 2026, the Company entered into a Restructuring Support Agreement with: * certain lenders, or investment advisors, or holders of claims pursuant to the Company's obligations under that certain credit agreement, dated as of November 5, 2021, between the Company, as borrower, the guarantors and lenders party thereto, and Acquiom Agency Services LLC, as successor administrative agent and collateral agent (as amended, the "Prepetition First Lien Credit Agreement," and such lenders, advisors, or managers who are party to the Restructuring Support Agreement, the "Consenting First Lien Lenders"); * certain holders, or investment advisors, sub-advisors, or managers for the accounts of beneficial holders or beneficial holders (which such accounts or beneficial holders such investment advisors, sub-advisors, or managers have authority to bind or direct) of the Company's 15.00% Senior Secured Second Lien PIK Notes due 2027 issued under that certain indenture, dated as of September 13, 2024, by and between the Company, as issuer, and U.S. Bank Trust Company, National Association, as trustee and notes collateral agent (the "Prepetition PIK Notes Indenture," and such holders, advisors, or managers who are party to the Restructuring Support Agreement, the "Consenting PIK Noteholders"); and * certain holders, or investment advisors, sub-advisors, or managers for the accounts of beneficial holders or beneficial holders (which such accounts or beneficial holders such investment advisors, sub-advisors, or managers have authority to bind or direct) of the Company's 3.25% Convertible Senior Notes due 2027 issued under that certain indenture, dated as of September 27, 2021, by and between Inotiv, Inc., as issuer, the guarantor party thereto, and U.S. Bank Trust Company, National Association, as trustee (the "Prepetition Convertible Unsecured Notes Indenture," and such holders, advisors, or managers who are party to the Restructuring Support Agreement, the "Consenting Unsecured Convertible Noteholders," and together with the Consenting First Lien Lenders and the Consenting PIK Noteholders, the "Consenting Stakeholders"). Commitments and Representations. The Company and the Consenting Stakeholders have made certain customary commitments and representations in the Restructuring Support Agreement, including, among other things, to support and take all commercially reasonable actions reasonably necessary to facilitate the transactions contemplated by the Restructuring Support Agreement. Specifically, the Consenting Stakeholders have committed to the Company, among other things, to support and vote for the Plan. Milestones. The Restructuring Support Agreement contains certain milestones relating to the progress of the anticipated Chapter 11 Cases, which include, among other things, commencement of the Chapter 11 Cases no later than June 3, 2026, entry of an interim order by the Bankruptcy Court authorizing the Debtors' use of cash collateral and the DIP Facility and entry of a case scheduling order no later than three days following the Petition Date, entry of a final order by the Bankruptcy Court authorizing the Debtors' use of cash collateral and the DIP Facility on a final basis and entry of the confirmation order no later than 45 days following the Petition Date, and the occurrence of the date on which the Plan has become effective in accordance with its terms no later than 50 days following the Petition Date. Summary of Material Terms. The material terms of the Plan, subject to Bankruptcy Court approval, include, among other things: * DIP Facility. In connection with the Chapter 11 Cases, the Consenting First Lien Lenders will provide the Company with a debtor-in-possession financing facility in an aggregate amount of $65.4 million, consisting of: (a) $25 million in new money senior secured superpriority term loans, and (b) a $40.4 million roll-up of outstanding delayed draw term loans under the Company's prepetition bridge facility. The DIP Facility will bear interest at either, at the Company's election, SOFR plus 9.00% or Alternate Base Rate plus 8.00% and will mature 90 days following the Petition Date, subject to further extension with the consent of the required DIP lenders. * Exit Term Loan Facility. On the Plan Effective Date, the reorganized Debtors are expected to enter into a senior secured first lien exit term loan facility in an aggregate principal amount of up to $150 million (including paid-in-kind interest, fees, original issue discount, and premiums). All outstanding DIP obligations are expected to be converted dollar-for-dollar into exit term loans under the Exit Term Loan Facility. * Prepetition First Lien Claims. Holders of allowed prepetition first lien claims are expected to receive, in full and final satisfaction of such claims, their pro rata share of: (a) 93% of the new equity interests to be issued by the reorganized Company on the Plan Effective Date, subject to dilution on account of the New Warrants and the Management Incentive Plan, and (b) the remaining exit term loans under the Exit Term Loan Facility (i.e., exit term loans that were not provided to the DIP lenders in satisfaction of the DIP claims). * Prepetition PIK Notes Claims. Holders of allowed prepetition PIK notes claims are expected to receive, in full and final satisfaction of such claims, their pro rata share of 21% of: (a) 7% of the New Equity Interests, subject to dilution on account of the New Warrants and the Management Incentive Plan, and (b) the New Warrants. * Prepetition Unsecured Convertible Notes Claims. Holders of allowed prepetition unsecured convertible notes claims are expected to receive, in full and final satisfaction of such claims, their pro rata share of 79% of the Notes Recovery. * DOJ Claims. The claims of the United States Department of Justice arising under that certain Plea Agreement, dated June 3, 2024 (the "DOJ Claims"), are expected to be allowed and reinstated on the Plan Effective Date. * General Unsecured Claims. Each holder of an allowed general unsecured claim is expected to have such claim reinstated, or to otherwise receive treatment rendering such claim unimpaired pursuant to section 1124 of the Bankruptcy Code. * Section 510(b) Claims. All Section 510(b) claims, including claims arising from the purchase or sale of securities of any Debtor, are expected to be discharged and released on the Plan Effective Date, and holders thereof shall not receive or retain any distribution on account of such claims. * Existing Equity Interests. On the Plan Effective Date, all existing equity interests in the Company will be cancelled, released, and extinguished without any distribution, and holders of existing equity interests shall not receive or retain any distribution, property, or other value on account of such interests. * New Equity Interests and New Warrants. On the Plan Effective Date, the reorganized Company is expected to issue a single class of New Equity Interests, and new warrants exercisable into New Equity Interests representing 11% of New Equity Interests issued on the Plan Effective Date, in the aggregate, on a fully diluted basis (subject to dilution by the Management Incentive Plan). The New Warrants will have a strike price equal to an implied share price using a post-transaction enterprise value of $350 million and a four-year exercise period following the Plan Effective Date. * Management Incentive Plan. The new board of directors of the reorganized Company may implement a management incentive plan pursuant to which equity-based awards for up to 10% of the New Equity Interests of the reorganized Company, on a fully diluted basis (assuming the New Warrants are treated as having been fully exercised), may be made available to the Company's employees and directors. Termination. Each of the parties to the Restructuring Support Agreement may terminate the agreement under certain circumstances and subject to the terms set forth therein, including, among other things: (i) in the case of the Consenting Stakeholders, (a) the failure of the Company to meet a Milestone or achieve the Plan Effective Date before the applicable outside date; or (b) if the Company seeks or obtains an order of the Bankruptcy Court authorizing the rejection of the Restructuring Support Agreement; (ii) the occurrence of certain breaches of the Restructuring Support Agreement; (iii) the mutual agreement of the parties; and (iv) in the case of the Company, if the board of directors, board of managers, or such similar governing body of the Company reasonably determines in good faith after consultation with outside counsel that proceeding with any of the transactions under the Restructuring Support Agreement would be inconsistent with the exercise of its fiduciary duties under applicable law. Consummation. Consummation of the transactions contemplated by the Restructuring Support Agreement is subject to, among other things, approval of the Plan by the Bankruptcy Court. Accordingly, no assurance can be given that the transactions described therein will be consummated. A full text copy of the Restructuring Support Agreement is available at https://tinyurl.com/mrhwm3vj. The representations, warranties and covenants contained in the Restructuring Support Agreement have been made solely for the purpose of such agreement and as of specific dates, for the benefit of the parties thereto. In addition, such representations, warranties and covenants: (i) may have been qualified by confidential disclosures exchanged between the parties, (ii) are subject to materiality qualifications contained in such agreement which may differ from what may be viewed as material by investors, and (iii) have been included in such agreement for the purpose of allocating risk between the contracting parties rather than establishing matters of fact. Investors should not rely on the representations, warranties and covenants or any descriptions thereof as characterizations of actual facts or circumstances, and the subject matter of representations and warranties may change after the date as of which such representations or warranties were made. Moreover, information concerning the subject matter of the representations, warranties and covenants may change after the date of the Restructuring Support Agreement, which subsequent information may or may not be fully reflected in the Company's public disclosures. Commencement of Solicitation On June 3, 2026 (i.e., the Petition Date), the Company Parties filed voluntary petitions to commence the Chapter 11 Cases in the Bankruptcy Court to implement the Plan effectuating the Restructuring in accordance with the Restructuring Support Agreement. Prior to commencing the Chapter 11 Cases, the Company commenced the solicitation of the Plan with a related disclosure statement. The Company has requested that the Bankruptcy Court administer the Chapter 11 Cases jointly for administrative purposes only under the caption In re Inotiv, Inc., et al. The Company Parties continue to operate their business as debtors-in-possession under the jurisdiction of the Bankruptcy Court in accordance with the applicable provisions of the Bankruptcy Code and orders of the Bankruptcy Court. The Company Parties have filed with the Bankruptcy Court customary motions seeking "first day" relief intended to ensure the Company Parties' ability to continue their ordinary course operations during the Chapter 11 Cases, including the authority to obtain postpetition financing under the DIP Facility, use cash collateral, pay employee wages and benefits and vendors and suppliers in the ordinary course of business, and other customary operational and administrative relief. A copy of the Disclosure Statement (including the Plan and certain other exhibits attached thereto) is furnished available at https://tinyurl.com/yc529v6c Triggering Events that Accelerate or Increase a Direct Financial Obligation or an Obligation Under an Off-Balance Sheet Arrangement The filing of the Chapter 11 Cases constitutes an event of default that accelerated the Company's obligations under the following instruments: * the Prepetition First Lien Credit Agreement; * the Prepetition PIK Notes Indenture; and * the Prepetition Convertible Unsecured Notes Indenture. The Debt Instruments provide that as a result of the Chapter 11 Cases, the principal and interest, and, if applicable, premiums, due thereunder shall be immediately due and payable. Any efforts to enforce such payment obligations under the Debt Instruments are automatically stayed as a result of the Chapter 11 Cases, and the creditors' rights of enforcement in respect of the Debt Instruments are subject to the applicable provisions of the Bankruptcy Code. Advisors Inotiv is advised in this matter by Ropes & Gray LLP as legal counsel, Perella Weinberg Partners as investment banker, and FTI Consulting as financial and communications advisor. The Prepetition First Lien Lenders are advised by Davis Polk & Wardwell LLP as legal counsel and BRG as financial advisors. The Noteholder Ad Hoc Group is advised by Paul, Weiss, Rifkind, Wharton & Garrison LLP as legal counsel. Additional Information on the Chapter 11 Cases Additional information about the Chapter 11 Cases, including access to Bankruptcy Court documents, is available online at https://restructuring.ra.kroll.com/Inotiv, a website administered by the Debtors' claims and noticing agent, Kroll Restructuring Administration LLC ("Kroll"). Information may also be obtained by contacting Kroll by calling (844) 408-3698 (U.S./Canada, toll-free) or +1 (646) 825-3849 (international), by emailing InotivInfo@ra.kroll.com, or by writing to Inotiv, Inc., c/o Kroll Restructuring Administration LLC, 850 Third Avenue, Suite 412, Brooklyn, NY 11232. About Inotiv Inotiv, Inc. is a contract research organization dedicated to providing nonclinical and analytical drug discovery and development services primarily to the pharmaceutical and medical device industries and selling a range of research-quality animals and diets to the same industries as well as academia and government clients. The Company's products and services focus on bringing new drugs and medical devices through the discovery and preclinical phases of development and, in certain cases, the clinical phases of development, all while focusing on increasing efficiency, improving data, and reducing the cost of discovering and taking new drugs and medical devices to market. INSPIRED HEALTHCARE: Seeks to Hire Dechert as Bankruptcy Counsel ---------------------------------------------------------------- Inspired Healthcare Capital Holdings, LLC and its affiliates seek approval from the U.S. Bankruptcy Court for the Northern District of Texas to employ Dechert LLP as counsel. The firm's services include: (a) advise the Debtors with respect to their powers and duties in the continued management and operation of their business and properties; (b) advise and consult on the conduct of the Chapter 11 cases; (c) attend meetings and negotiate with representatives of the Debtors' creditors, equity holders, and other parties-in-interest; (d) take all necessary actions to protect and preserve the Debtors' estates; (e) prepare pleadings in connection with the Chapter 11 cases; (f) advise the Debtors in connection with any potential sale of assets or transfer of operations; (g) appear before the Court and any appellate courts to represent the interests of the Debtors' estates; (h) advise the Debtors regarding tax matters; (i) assist the Debtors in reviewing, assessing, estimating, and resolving claims asserted against their estates; (j) advise the Debtors regarding insurance and regulatory matters; (k) commence and conduct litigation necessary and appropriate to assert rights held by the Debtors, protect assets of their Chapter 11 estates, or otherwise further their goals in these cases; (l) take any necessary action on behalf of the Debtors to negotiate, prepare, and obtain approval of a disclosure statement and confirmation of a Chapter 11 plan and all documents related thereto; and (m) perform all other necessary legal services for the Debtors in connection with the prosecution of the Chapter 11 cases. The firm will be paid at these hourly rates: Partners $1,725 - $2,275 Associates $850 - $1,575 Paraprofessionals $155 - $605 In addition, the firm will seek reimbursement for expenses incurred. Marcus Helt, Esq., a partner at Dechert, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Marcus A. Helt, Esq. Dechert LLP 2651 N. Harwood Street, Suite 120 Dallas, TX 75201 Telephone: (214) 453-4900 Email: Marcus.Helt@dechert.com 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. INSPIREMD INC: Three Key Proposals OK'd at Annual Meeting --------------------------------------------------------- InspireMD, Inc. announced in a regulatory filing the final voting results from its Annual Meeting of Stockholders. As of April 10, 2026, the record date for the Annual Meeting, there were 46,892,979 shares of common stock issued and outstanding and entitled to vote on the proposals presented at the Annual Meeting, of which 34,631,348, or 73.85%, were present in person or represented by proxy, which constituted a quorum. The holders of shares of the Company common stock are entitled to one vote for each share held. Set forth are the final voting results for each of the proposals submitted to a vote of the Company's stockholders at the Annual Meeting. Proposal No. 1 - Election of Directors. The stockholders re-elected Marvin Slosman, Raymond Cohen and Dan Dearen to serve on the board of directors of the Company, as Class 3 directors, for a term of three years or until their respective successor is elected and qualified. The votes were as follows: 1. Marvin Slosman * For: 25,086,284 * Withheld: 1,728,950 * Broker Non-Votes: 7,816,114 2. Raymond Cohen * For: 22,733,263 * Withheld: 4,081,971 * Broker Non-Votes: 7,816,114 3. Dan Dearen * For: 22,750,906 * Withheld: 4,064,328 * Broker Non-Votes: 7,816,114 Proposal No. 2 – Increase in Authorized Shares. The stockholders approved an amendment to the Company's Amended and Restated Certificate of Incorporation to increase the authorized number of shares of the Company's common stock from 150,000,000 shares to 250,000,000 shares. The votes were as follows: * For: 31,577,297 * Against: 3,009,107 * Withheld: 44,944 * Broker Non-Votes: 0 The Amendment became effective upon the Company's filing of a Certificate of Amendment to the Company's Amended and Restated Certificate of Incorporation with the Secretary of State of Delaware on June 3, 2026. A full text copy of the Certificate of Amendment is available at https://tinyurl.com/n8fufd99 Proposal No. 3 - Ratification of Auditors. The stockholders ratified the appointment of Kesselman & Kesselman, a member of PricewaterhouseCoopers International Limited, as the Company's independent registered public accounting firm for the 2026 fiscal year. The votes were as follows: * For: 34,355,150 * Against: 244,248 * Abstain: 31,950 Based on the foregoing votes, Proposals 1 through 3 were approved. As there were sufficient votes to approve the proposals, the proposal to approve an adjournment of the Annual Meeting to a later date or dates, if necessary, to permit further solicitation and vote of proxies in the event there are not sufficient votes to establish a quorum or in favor of proposals 1 through 3 was not presented to the Company's stockholders. About InspireMD Headquartered in Tel Aviv, Israel, InspireMD, Inc. -- http://www.inspiremd.com/-- is a medical device company focusing on the development and commercialization of its proprietary MicroNet stent platform technology for the treatment of complex vascular and coronary disease. A stent is an expandable "scaffold-like" device, usually constructed of a metallic material, that is inserted into an artery to expand the inside passage and improve blood flow. Its MicroNet, a micron mesh sleeve, is wrapped over a stent to provide embolic protection in stenting procedures. Tel-Aviv, Israel-based Kesselman & Kesselman, the Company's auditor since 2010, issued a "going concern" qualification in its report dated March 18, 2026, attached to the Company's Annual Report on Form 10-K for the year ended December 31, 2025, citing that the Company has suffered recurring losses from operations and cash outflows from operating activities that raise substantial doubt about its ability to continue as a going concern. As of March 31, 2026, the Company had $56.5 million in total assets, $12.9 million in total liabilities, and $43.6 million in total equity. ISLAND LAKE CAMPCO: Seeks Chapter 11 Bankruptcy in New Jersey ------------------------------------------------------------- On June 4, 2026, Island Lake Campco LLC filed for Chapter 11 protection in the U.S. Bankruptcy Court for the District of New Jersey. According to court filings, the Debtor reports between $500 million and $1 billion in debt owed to between 50,001 and 100,000 creditors. Debtors' exclusivity to propose a Chapter 11 plan ends on October 2, 2026. About Island Lake Campco LLC Island Lake Campco LLC is a large-scale real estate and investment holding company involved in property ownership, leasing, and asset management operations. Island Lake Campco LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-16408) on June 4, 2026. In its petition, the Debtor reports estimated assets between $100 million and $500 million and estimated liabilities between $500 million and $1 billion. Honorable Bankruptcy Judge Christine M. Gravelle handles the case. The Debtor is represented by Michael D. Sirota, Esq. of Cole Schotz P.C. JAGUAR HEALTH: Stockholders Approve Five Annual Meeting Proposals ----------------------------------------------------------------- Jaguar Health, Inc. stockholders approved five proposals at the company's reconvened 2026 annual meeting, according to a Form 8-K filing with the Securities and Exchange Commission. The San Francisco company said the meeting was reconvened June 8 after adjournments on May 22 and June 2. A total of 7,169,152 shares were represented in person or by proxy out of 14,044,277 shares outstanding and entitled to vote as of the April 15 record date. Stockholders elected John Micek III as a Class II director, ratified RBSM LLP as auditor for fiscal 2026 and approved two Nasdaq Rule 5635(d) proposals related to potential issuances to C/M Capital Master Fund, LP and affiliates. Stockholders approved discretionary authority to adjourn the annual meeting if needed to solicit additional proxies for the two issuance proposals. About Jaguar Health Headquartered in San Francisco, California, Jaguar Health, Inc. develops plant-derived prescription drugs for people with complicated gastrointestinal disease states, including crofelemer-related therapies. The company operates with Napo Pharmaceuticals, Inc. and Napo Therapeutics, S.p.A., which was established in Milan, Italy in 2021 to expand global access to crofelemer and develop therapies for orphan and rare gastrointestinal conditions. Jaguar also uses the Jaguar Animal Health tradename and participates in Magdalena Biosciences, a joint venture focused on plant-derived prescription medicines for mental health indications. In its audit report dated April 7, 2026, RBSM, LLP included a going concern paragraph stating that the Company has an accumulated deficit, recurring losses, and expects continuing future losses. These conditions raise substantial doubt about the Company's ability to continue as a going concern. The company reported total assets of $37.43 million, total liabilities of $53.19 million and a stockholders' deficit of $15.75 million as of March 31, 2026. JAYBROOK RENTALS: Seeks to Extend Plan Exclusivity to Sept. 2 ------------------------------------------------------------- Jaybrook Rentals, LLC asked the U.S. Bankruptcy Court for the Southern District of West Virginia extend its exclusivity periods to file a plan of reorganization to Sept. 2, 2026. The Debtor has both real property and personal property consisting of trailers and logging equipment (the "Personal Property") in which it leases to other entities. The Debtor submits that ample cause exists to extend the deadline to file a Chapter 11 plan. The Debtor has had discussions with a prospective auction company, Bright Star Auctions; who have considerable experience in marketing and selling trailers and equipment, similar to the Debtor's Personal Property. The Debtor estimates that an application to employ said auction company shall be filed within the next thirty days. The Debtor and proposed auction company have a target date in August, 2026, for the sale to occur and believe that the August sale date will be beneficial to all interested parties. The Debtor explains that it has also negotiated with First Community Bank, the secured creditor; and has received their assent to the sale of the Personal Property that is subject to its liens. The Debtor claims that the liquidation of Personal Property shall be the determinative factor as to the terms of the Chapter 11 plan filed by the Debtor, as it will most likely address any deficiencies that may exist after the liquidation of the Personal Property and therefore is an essential step in developing a viable Chapter 11 plan. The firm can be reached through: Brian R. Blickenstaff, Esq. Johns & Associates, PLLC 808 Greenbrier Street Charleston, WV 25311 Telephone: (304) 720-2300 Facsimile: (304) 720-2311 Email: bblickenstaff@johnswvlaw.com About Jaybrook Rentals Jaybrook Rentals, LLC, based in Summersville, West Virginia, is a limited liability company engaged in real estate rental and leasing. Jaybrook Rentals, LLC filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. S.D.W.V. Case No. 26-20054) on March 2, 2026, listing $1 million to $10 million in both assets and liabilities. The petition was signed by Billy R. Dyer as member. Judge B Mckay Mignault presides over the case. Brian R. Blickenstaff, at JOHNS & ASSOCIATES, PLLC, serves as the Debtor's counsel. JOANN INC: Vendor Claims Not Precluded by Sale Order ---------------------------------------------------- Judge Craig T. Goldblatt of the U.S. Bankruptcy Court for the District of Delaware ruled on several motions filed by the parties in the following adversary proceedings: 1. JOANN INC., et al., Plaintiffs, v. ADVANTUS CORP., et al., Defendants, Adv. Proc. No. 25-51022 (CTG); and 2. ADVANTUS CORP, et al., Plaintiffs, v. MICHAEL PRENDERGAST, et al., Defendants, Adv. Proc. No. 25-52463 (CTG). In May 2025, a number of the company's prepetition creditors, vendors who had supplied goods after the first bankruptcy case but before the second, filed suit in the Court of Common Pleas of Summit County, Ohio. They named various former officers of Joann as defendants. They allege that the former officers made false statements that induced the vendors to extend credit to Joann. Their state court complaint asserts claims sounding in negligent misrepresentation and common law fraud. As a result, two separate matters have now landed before the Bankruptcy Court: 1. The Wind-Down Debtors -- the post-confirmation entities that emerged from the second bankruptcy case -- have sued the vendors, seeking a declaration that the state court action asserts what is actually an estate claim that was sold to the liquidator in the sale, and is thus barred by the Bankruptcy Court's order approving the sale. The vendors then moved to dismiss the lawsuit for lack of subject-matter jurisdiction. 2. The former officers removed the state court action to the U.S. District Court for the Northern District of Ohio on the ground that it fell within the federal court's bankruptcy jurisdiction. That court then transferred the lawsuit to the district court in Delaware, which has referred it to the Bankruptcy Court. The vendors argue that the Bankruptcy Court should remand it back to the Ohio state court, both for want of subject matter jurisdiction and on equitable remand grounds. Alternatively, the vendors ask that this Court abstain from the case, both on mandatory and permissive abstention grounds. According to the Court, the vendors' claims all require a showing that each vendor relied on a false statement by each defendant. As such, those are still individual rather than derivative claims and never became property of the estate. The vendors' assertion of those claims is therefore not precluded by this Court's order approving the sale of Joann's assets. With respect to the various questions about jurisdiction, remand, and abstention, the Court concludes that it has subject-matter jurisdiction over the suit removed to the Ohio district court and transferred to Delaware. The action is not subject to mandatory abstention. And, as an exercise of discretion, the Court will deny the motion to abstain on permissive grounds and the motion to remand based on equitable considerations. A copy of the Court's Memorandum Opinion dated June 11, 2026, is available at https://urlcurt.com/u?l=BTNxb3 from PacerMonitor.com. About Joann Inc. JOANN operates in the fabric and sewing industry with one of the largest assortments of arts and crafts products. JOANN has transformed itself into a fully-integrated, digitally-connected omni-channel retailer. JOANN reported a net loss of $200.6 million for the year ended Jan. 28, 2023. On March 18, 2024, JOANN Inc. and 9 affiliates filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code (Bankr. D. Del. Lead Case No. 24-10418). JOANN listed $2,257,700,000 in assets against $2,440,700,000 in liabilities as of Oct. 28, 2023. Judge Craig T. Goldblatt oversees the case. The Debtors tapped Latham & Watkins, LLP as legal counsel; Houlihan Lokey Capital, Inc. as investment banker; and Alvarez & Marsal North America, LLC, as financial advisor. Kroll Restructuring Administration, LLC is the noticing agent. JOANN Inc., on April 30, 2024 successfully emerged from its court-supervised financial restructuring process. 2nd Attempt Joann Inc. sought voluntary Chapter 11 petition for the second time under U.S. Bankruptcy Code (Bankr. D. Del. Case No. 25 10068) on Jan. 15, 2025. Kirkland & Ellis is serving as legal counsel to JOANN, with Centerview Partners LLC serving as financial advisor and Alvarez & Marsal North America, LLC serving as restructuring advisor. JOBEE EXPRESS: Claims to be Paid from Future Revenue ---------------------------------------------------- Jobee Express, LLC filed with the U.S. Bankruptcy Court for the Western District of North Carolina a First Amended Plan of Reorganization dated June 1, 2026. The Debtor is a North Carolina limited liability company that operates a trucking business. More specifically, the Debtor transports dry and refrigerated goods throughout the country. The Debtor began operations in May 2017. The Debtor was significantly and negatively impacted by the COVID-19 pandemic in that, among other things, prices of trucks and trailers increased substantially. Subsequently, the Russo-Ukrainian war escalated around February 2022, and that led to a substantial increase in diesel prices. To cover fuel costs, the Debtor took out merchant cash advances ("MCAs"). The Debtor took on all the debt in an environment where the demand for the Debtor's services and, therefore, revenues decreased. The sheer size of the debt, some of which is unconventional debt with high interest rates, combined with the Debtor's decreased revenues, renders the debt unaffordable. Moreover, before filing bankruptcy, MCAs debited the Debtor's bank account weekly, which significantly diminished the cash flow the Debtor needed to operate. Sometimes, the merchant cash advance lender would cause the Debtor's bank account to be overdrawn. The Debtor filed for relief under Chapter 11 of the Bankruptcy Code on December 17, 2025. Through this Plan, the Debtor intends to restructure its debt to pay creditors, improve cash flow, and commit its disposable income to its unsecured creditors for three years. Class 2 consists of the Allowed General Unsecured Claims. These Claims shall be treated as unsecured obligations of the Reorganized Debtor. Allowed General Unsecured Creditors shall be paid a Pro Rata share of the Reorganized Debtor's projected "disposable income." The timing and amount of any interim and final distribution will be at the discretion of the Reorganized Debtor and subject to Articles 6 and 7 of the Plan. Class 2 is impaired by the Plan. The holders of Class 2 Claims are entitled to vote to accept or reject the Plan. Class 3 consists of consists of the Equity Interests in the Debtor. All Equity Interests held prior to the Petition Date shall be retained. Class 3 is not impaired by the Plan and is not entitled to vote to accept or reject the Plan. The Plan contemplates that distributions will be funded by revenues generated during the Debtor's post-petition operations and the Reorganized Debtor's future revenue. The Reorganized Debtor or any distribution agent the Reorganized Debtor may retain shall make all distributions to the holders of Allowed Claims and Allowed Interests that are required under this Plan. If any litigation now pending is resolved by Final Order or settlement, and the Debtor is ordered to pay any sums to the successful litigant, then such party shall become a creditor, and shall share in distributions to the appropriate Class. A full-text copy of the First Amended Plan dated June 1, 2026 is available at https://urlcurt.com/u?l=6Z3yvc from PacerMonitor.com at no charge. Counsel for the Debtor: Rashad Blossom, Esq. Blossom Law PLLC 126 N. McDowell St., 2nd Floor Charlotte NC 28204 About Jobee Express LLC Jobee Express, LLC is an interstate freight trucking company based in Pineville, North Carolina, that provides general freight transportation services across state lines, operating a fleet of trucks and drivers under federal authority. Jobee Express sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.C. Case No. 25-31361) on Dec. 17, 2025, listing up to $50,000 in assets and up to $10 million in liabilities. Jorge Nunez Silveira, president of Jobee Express, signed the petition. Judge Laura T. Beyer oversees the case. Rashad Blossom, Esq., at Blossom Law, PLLC, represents the Debtor as legal counsel. Counsel for Crossroads Equipment Lease and Finance, LLC and Flagstar Financial & Leasing, LLC: Byron L. Saintsing, Esq. SMITH DEBNAM NARRON DRAKE SAINTSING & MYERS, LLP P.O. Box 176010 Raleigh, NC 27619-6010 Tel: (919) 250-2000 Fax: (919)250-2100 E-mail: bsaintsing@smithdebnamlaw.com JOJOTO GRILL: Gets Interim OK to Use Cash Collateral ---------------------------------------------------- Jojoto Grill & Latin Food LLC received interim approval from the U.S. Bankruptcy Court for the Middle District of Florida, Orlando Division, to use cash collateral through July 7. Under the order, the Debtor may use cash collateral to pay court-authorized expenses, U.S. Trustee quarterly fees, and ordinary operating expenses listed on its approved budget, with flexibility of up to 10% per budget line item. Additional expenditures must be approved by Fora Financial, a secured creditor. The Debtor projects total operational expenses of $49,539 for the period from May to July. As adequate protection, Fora Financial will be granted a perfected post-petition replacement lien on cash collateral, maintaining the same validity, priority, and extent as its pre-petition lien without requiring additional filings. Additional safeguards include insurance coverage consistent with the Debtor's loan and security agreements with Fora Financial and compliance with its debtor-in-possession obligations under the Bankruptcy Code. The order preserves the rights of all parties, including the U.S. trustee and any future creditors' committee, to challenge lien claims or seek modified protections. The order is available at http://bankrupt.com/misc/JojotoGrill_ICCOrder.pdf A continued preliminary hearing is scheduled for July 7. About Jojoto Grill & Latin Food LLC Jojoto Grill & Latin Food, LLC is a restaurant and food service company specializing in Latin American cuisine. It operates within the hospitality industry, providing dining and food preparation services to its customers. Jojoto Grill & Latin Food, LLC filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. M.D. Fla. Case No. 26-03819) on May 22, 2206, with up to $50,000 in assets and $100,001 to $500,000 in liabilities. Andrew Layden serves as Subchapter V trustee for the Debtor. Jeffrey Ainsworth, Esq., at Bransonlaw, PLLC represents the Debtor as bankruptcy counsel. JPK NEWCO: Developer RE1, et al. Lose Bid to Dismiss Ch. 11 Case ---------------------------------------------------------------- Judge Elizabeth L. Gunn of the U.S. Bankruptcy Court for the District of Columbia denied the motion of Developer RE1, LLC and 423 Kennedy St Holdings, LLC to dismiss the bankruptcy case of JPK Newco LLC as a bad faith filing. The Debtor and WCP Fund I LLC timely objected to the motion to dismiss. The Debtor has no secured claims and three unsecured claims, two of which are contingent, unliquidated, and disputed claims from the Movants arising out of prepetition litigation. The Debtor is a special purpose entity formed to own and hold two junior promissory notes, one from each of the Movants, secured by corresponding junior liens on 419–423 Kennedy St. NW and 55501 1st St. NW, parcels of real property located in Washington, DC. The Debtor's only other asset is an unsecured note payable from an entity known as Energy Morocco, LLC, which originally matured in December 2024 (the "Energy Morocco Note"). At all times the Debtor has been candid that this case was filed in an attempt to resolve the ongoing litigation between the Movants and the Debtor as to the Promissory Notes. On July 28, 2025, the Debtor timely submitted its Chapter 11 Small Business Subchapter V Plan. The funding of the Debtor's plan is contingent upon the resolution of litigation with the Movants and recovery on the Promissory Notes and the Energy Morocco Note. The Movants objected to confirmation of the plan and filed an objection to the Debtor's eligibility under subchapter V. The Court finds that the appropriate standard for a motion to dismiss for bad faith is the Carolin Test requiring a movant to prove both (1) objective futility and (2) subjective intent for bad faith based upon the totality of the circumstances. Examining the totality of the facts and circumstances, the Court finds that the Debtor has a reasonable likelihood of reorganization and there is a potentially confirmable plan pending. As such, the filing of the Debtor's case is not objectively futile, the Movants have failed to meet the first element of the Carolin Test, and the motion to dismiss must be denied. Because the Court denies the motion to dismiss for the Movants' failure to establish objective futility, it does not need to reach the question of subjective intent -- the element on which the Movants assert they needed additional discovery and sought to continue the hearing. A copy of the Court's Memorandum Opinion dated June 12, 2026, is available at https://urlcurt.com/u?l=yyUrQO from PacerMonitor.com. About JPK Newco LLC JPK Newco LLC is a real estate investment and lending company that holds junior liens on properties in Washington, D.C. Its assets include subordinate interests in real estate valued at over $3 million and a minority stake in an energy company. The firm operates in the private real estate financing sector, specializing in secured lending and investment holdings. JPK Newco LLC sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.C. Case No. 25-00200) on May 27, 2025. In its petition, the Debtor reports total assets of $3,111,937 and total liabilities of $55,172. Bankruptcy Judge Elizabeth L. Gunn handles the case. The Debtors are represented by Jeffrey M. Orenstein, Esq. at WOLFF & ORENSTEIN LLC. JTRE 14 VESEY: Claims to be Paid from Property Sale Proceeds ------------------------------------------------------------ Albert Togut, not individually but solely in his capacity as Chapter 11 trustee, and CPIF MRA, LLC ("Lender") submitted a Disclosure Statement describing Plan of Liquidation for JTRE 14 Vesey LLC dated June 2, 2026. The Debtor owns property real property and improvements thereon located at 14 Vesey Street, New York, New York, 10007, (the "Property"). Debtor Vesey Partners is the sole member and 100% equity owner of the Debtor, which is a member managed limited liability company. The Property is the only known asset owned by the Debtor. The Property is currently vacant and generates no income from which the Trustee can pay property taxes, insurance premiums, assessments, governmental charges, costs and other expenses to maintain and safeguard the Property. The Lender has advanced funds to the Trustee to pay costs and expenses of the Estate as needed pursuant to the 364(b) Stipulation. Prior to the Appointment of the Trustee, on July 1, 2024, the Court entered an order authorizing the Debtor to retain Cushman to assist in the marketing and sale of the Properties (the "Cushman Retention Order"). On March 23, 2026, the Trustee filed a motion (the "Bid Procedures Motion") requesting, among other things, (a) approval of bidding procedures (the "Bidding Procedures") in connection with the Trustee's sale of the Property as described in the Application, (b) approval of stalking horse bid for the sale of the property for $13 million (the "Stalking Horse Bid"), subject to higher and better offers, and (c) the scheduling of a bid deadline, auction date, and sale hearing (the "Bidding Schedule"). On May 14, 2026, the Bankruptcy Court entered an order (the "Bidding Procedures Order") establishing June 8, 2026 as the deadline to submit higher and better offers for the purchase of the Property and scheduling a hearing on June 23, 2026 to consider the sale of the Property pursuant to the Stalking Horse Bid or such other higher or better offer that is received pursuant to the Bidding Procedures. The Bidding Procedures Order also authorized payment of a breakup fee equal to $300,000, or approximately 2.3% of the Stalking Horse Bid, and expense reimbursement not to exceed $50,000 (together, the "Breakup Fee") as allowed administrative expense claim under section 503(b) of the Bankruptcy Code, in the event that the Property is sold to a party other than the Stalking Horse Bidder pursuant to the Bidding Procedures. The proceeds from sale of the Debtor's Property (the "Sale Transaction") will exclusively fund the Debtor's Plan. Class 4 consists of General Unsecured Claims. Class 4 Claims are impaired and are not expected to receive any recovery under the Plan based on the expected proceeds from the Sale of the Property. As such, holders of General Unsecured Claims are deemed to reject the Plan and are not entitled to vote to accept or reject the Plan. However, holders of Allowed General Unsecured Claims will receive their pro rata share of any Plan Funds available after full payment of Administrative Claims, Fee Claims, Other Priority Claims, Lender's Claims, and Other Secured Claims. The allowed unsecured claims shall not less than $5,091,861.35. Class 5 consists of Existing Equity Interests. All Allowed Existing Equity Interests shall be cancelled and Holders of such Interest will receive any remaining funds from the Debtor after all senior classes of are paid in full. Class 5 Interests are impaired and deemed to reject the Plan. The Plan will be funded from the net proceeds of the Sale Transaction for the Property. With respect to such Property, the Broker has conducted a private marketing process that has resulted with an accepted offer to purchase the Property. The Trustee has filed a motion to sell the Property to the proposed purchaser, subject to higher and better offers and the Court has entered the Bidding Procedures Order. In the event that the Trustee receives a qualified offer in accordance with the Bidding Procedures, the Trustee will conduct an Auction of the Property to determine the highest and best bid for it and then will seek final approval of the sale from the Bankruptcy Court in a Sale Order. The Sale Transaction to the Purchaser shall facilitate the transfer of the Property free and clear of all Liens, and the Confirmation Order for the Plan shall authorize the Trustee to sell, transfer and convey the Property to the approved purchaser free and clear of liens, claims and encumbrances, which will attach to the Sale Proceeds in the same order of priority as they attached to the Property. For the avoidance of doubt, Lender shall be deemed a qualified bidder under any bidding procedures established by Broker, and Lender shall have the right but not the obligation to credit bid the full Allowed amount of Lender's Claim against the Debtor in the sale of the Property. A full-text copy of the Disclosure Statement dated June 2, 2026 is available at https://urlcurt.com/u?l=OTxIQR from PacerMonitor.com at no charge. Attorneys for Albert Togut: TOGUT, SEGAL & SEGAL LLP Frank A. Oswald, Esq. 550 Broad Street, Suite 1508 Newark, NJ 07102 Tel: (212) 594-5000 Email: frankoswald@teamtogut.com Albert Togut, Esq. Eitan E. Blander, Esq. One Penn Plaza, Suite 3335 New York, NY 10119 Tel: (212) 594-5000 Email: altogut@teamtogut.com eblander@teamtogut.com Counsel to CPIF MRA, LLC: BENESCH FRIEDLANDER COPLAN & ARONOFF LLP Michael Barrie, Esq. 411 Hackensack Avenue, 3rd Floor Hackensack, New Jersey 07601-6323 Tel. (302) 442-7010 Abbey Walsh, Esq. 1155 Avenue of the Americas, 26th Floor New York, New York 10036 Tel. (646) 777-0053 About JTRE 14 Vesey LLC JTRE 14 Vesey LLC owns, in fee simple, the real property at located at 14 Vesey Street, New York, New York 10007. The Debtor filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. D.N.J. Case No. 24-12087) on Feb. 28, 2024, listing $10 million to $50 million in both assets and liabilities. The petition was signed by David Goldwasser, VP of Restructuring. Eric Horn, Esq., at A.Y. Strauss LLC, is the Debtor's legal counsel. K&M JACKSON: Unsecured Creditors to Split $75K in Plan ------------------------------------------------------ K&M Jackson Enterprises, LLC filed with the U.S. Bankruptcy Court for the Southern District of Texas a Small Business Plan of Reorganization under Subchapter V dated June 1, 2026. The Debtor was formed to operate high-quality childcare and early childhood education centers under the trade names Kids of Valor Academy and Kids of Valor Montessori. Prior to 2020, the Debtor operated several childcare centers. The Debtor invested in its facilities, including the acquisition of the Owned Properties located at 15911 Fir Rd and 4602 Orem Rd in Santa Fe, Texas, and 1475 E. South St in Alvin, Texas. These real estate acquisitions were financed with secured loans from multiple lenders. The Debtor's primary assets are the three Owned Properties. These properties were purchased with financing from secured lenders including PHH Mortgage / Texas Dow Employees Credit Union, AltCap, PeopleFund, TD Bank, N.A., and others. As operating cash flow declined, the Debtor fell behind on certain mortgage and loan obligations. The lenders began exercising remedies, creating imminent risk of foreclosure and a forced, piecemeal liquidation that would have destroyed going-concern value and resulted in little or no recovery for unsecured creditors. Faced with these circumstances, the Debtor concluded that the best way to maximize value for all stakeholders was to file a voluntary petition under Subchapter V of Chapter 11 on March 3, 2026. Subchapter V provides a streamlined, cost-effective process that allows a small business debtor to sell assets under Court supervision while protecting the interests of secured creditors through adequate protection and giving unsecured creditors a meaningful recovery. The Debtor engaged Exceed Realty/Ella Brooks as its Court-approved real estate broker and obtained approval to use cash collateral with adequate protection payments to secured lenders. The properties are currently being actively marketed for sale at a combined listing price of approximately $2,950,000. This Plan implements the Debtor's strategy of conducting an orderly, value-maximizing sale of the Owned Properties. Sale proceeds will be used first to pay all Allowed Secured Claims in full (with liens attaching to proceeds), then to pay all Allowed Administrative and Priority Claims in full (including professional fees estimated at approximately $50,000), and to establish a fixed $75,000 distribution pot for Allowed General Unsecured Claims. Class 2 consists of General Unsecured Claims. Each Holder of an Allowed General Unsecured Claim in Class 2 shall receive, in full and final satisfaction of such Claim, its Pro Rata share of the $75,000 Unsecured Creditor Pot. Distributions shall be made as soon as practicable after the Effective Date and after the Sale has closed and proceeds are available. On the Effective Date, all existing Equity Interests in the Debtor shall remain in place solely for the limited purpose of receiving any surplus proceeds remaining after payment in full of all Allowed Claims, Administrative Claims, and Priority Claims (including postconfirmation interest if applicable). No distribution shall be made to equity holders until all Allowed Claims have been paid in full. The Reorganized Debtor shall retain all right, title, and interest in and to its assets, subject only to the distributions required under this Plan. The primary means of implementation of this Plan is the Sale of the Owned Property pursuant to the Listing Agreement with the Broker (Exceed Realty and Ella Brooks), as approved by the Court. The Sale shall be free and clear of all Liens, claims, encumbrances, and interests under section 363(f), with such Liens to attach to the Net Sale Proceeds in the same priority. To provide certainty and protection to secured creditors while the Sale is pending, the Debtor shall use commercially reasonable efforts to diligently market and sell the Owned Properties. In the event that the Owned Properties have not been sold and the sales closed by the date that is one hundred eighty days after the Effective Date, any Holder of an Allowed Secured Claim shall be entitled to file a motion seeking relief from the automatic stay under section 362 of the Bankruptcy Code or other appropriate relief, without the necessity of further notice or a hearing, subject to the continued payment of adequate protection. The Debtor may seek one or more extensions of this deadline upon motion, notice, and a hearing for good cause shown. The Plan is feasible within the meaning of Section 1129(a)(11) of the Bankruptcy Code. The Owned Properties are currently listed for sale with the Court-approved Broker (Exceed Realty/Ella Brooks) at approximately $2,950,000. Secured debt is approximately $1.63 million. Estimated Administrative Claims (including professional fees of approximately $50,000) and Priority Claims will be paid in full from Sale Proceeds. The Plan provides for a fixed $75,000 distribution to Allowed General Unsecured Claims. The 180-day sale timeline, combined with active marketing and the Broker's engagement, provides a reasonable and commercially practicable path to consummation. The Sub V Trustee and U.S. Trustee will be kept apprised of marketing progress. A full-text copy of the Plan of Reorganization dated June 1, 2026 is available at https://urlcurt.com/u?l=dtmKXz from PacerMonitor.com at no charge. Counsel to the Debtor: Alex Olmedo Acosta, Esq. Acosta Law, P.C. 13831 Northwest Freeway, Suite 400 Houston TX 77040 Telephone: (713) 980-9014 Facsimile: (713) 583-9554 E-mail: alex@theacostalawfirm.com About K&M Jackson Enterprises K&M Jackson Enterprises, LLC operates in the childcare services industry and is associated with the Kids of Valor Academy brand, providing early childhood education and preschool programs across multiple Texas locations. K&M sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Texas Case No. 26-80149) on March 2, 2026, listing up to $10 million in both assets and liabilities. Mona Jackson, chief executive officer of K&M, signed the petition. Judge Alfredo R. Perez oversees the case. Alex Olmedo Acosta, Esq., at Acosta Law P.C., represents the Debtor as bankruptcy counsel. KATAPULT HOLDINGS: Executes Third Amendment to Credit Facility -------------------------------------------------------------- Katapult Holdings, Inc. announced in a regulatory filing that the Company entered into the Third Amendment and Limited Waiver to its Amended and Restated Loan and Security Agreement, dated as of June 12, 2025, by and among Katapult SPV-1 LLC, Katapult Group, Inc., the Company (each a "Credit Party" and, together, the "Credit Parties"), Midtown Madison Management LLC, as administrative, payment and collateral agent and lender, and the lenders party thereto. The Third Amendment, among other things, amends the Loan Agreement to remove the Minimum Trailing Net Three-Month Originations requirement and reduce the advance rate. The Third Amendment, among other things, amends the Loan Agreement to remove the Minimum Trailing Net Three-Month Originations requirement and reduce the advance rate. A full text copy of the Third Amendment is available at https://tinyurl.com/ycx7h5d8 About Katapult Holdings Inc. Katapult Holdings, based in Plano, Texas, is a technology driven lease-to-own platform that integrates with omnichannel retailers and e-commerce platforms to power the purchasing of everyday durable goods for underserved U.S. non-prime consumers. As of December 31, 2025, the Company had $107.9 million in total assets, $118 million in total liabilities, $27.9 million in total mezzanine equity, and $38.1 million in total stockholders' deficit. Philadelphia, Pennsylvania-based Grant Thornton LLP, the Company's auditor since 2023, issued a "going concern" qualification in its report dated March 12, 2026, citing that the impending maturity of the Company's credit facility and uncertainty about the Company's ability to meet financial covenant requirements of the credit facility over a forward-looking period raise substantial doubt about the Company's ability to continue as a going concern. KIITOS BREWING: Seeks to Hire Gibbons & Associates as Accountant ---------------------------------------------------------------- Kiitos Brewing, LLC seeks approval from the U.S. Bankruptcy Court for the District of Utah to employ Gibbons & Associates, CPAs, LC as accountant. The firm will represent the Debtor in tax matters associated with this Chapter 11 case, particularly the preparation and filing of tax returns and discussions with the Internal Revenue Service and United States Tax Court. Izaak Erekson, CPA, a partner at Gibbons & Associates, will be paid at his hourly rate of $375, plus expenses. Mr. Erekson disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Izaak Erekson, CPA Gibbons & Associates, CPAs, LC 198 N Main St Logan, UT 84321 Telephone: (435) 554-0101 About Kiitos Brewing LLC Kiitos Brewing, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Utah Case No. 26-22348) on April 24, 2025. In the petition signed by Andrew Dasenbrock, a managing member, the Debtor disclosed up to $500,000 in assets and up to $10 million in liabilities. Judge Michael F. Thomson oversees the case. The Debtor tapped Andres Diaz, Esq., at Diaz & Larsen as counsel and Izaak Erekson, CPA, at Gibbons & Associates, CPAs, LC as accountant. KULA GRAIN: Claims to be Paid from Asset Sale Proceeds ------------------------------------------------------ Kula Grain Co., Inc. d/b/a Kula Grain Company submitted a Second Amended Disclosure Statement describing Third Amended Plan of Reorganization dated June 2, 2026. Though the Debtor fully stands behind the projections it prepared as Exhibit A to a previous iteration of its Disclosure Statement, ultimately, the creditors herein rejected a previous Plan in which the Debtor continued to operate its business. Thus, on March 13, 2026, the Debtor withdrew its First Amended Plan. The Debtor then reformulated a strategy for reorganizing its debt through the sale of its assets under the APA, as described in the Debtor's Third Amended Plan of Reorganization. Under the APA, the Debtor sells substantially all of its assets and provides the prospective buyer, Overdrive, the opportunity to negotiate mutually agreeable terms with the holders of Secured Claims against the Debtor's Estate. Under the Plan, the Debtor proposes to sell its assets as described in the APA, receive in return a cash purchase price of $150,000, the assumption of outstanding debt asserted against collateral owned by the Debtor, and payments to counterparties for the cure of such executory contracts and unexpired leases as Overdrive may negotiate with such counterparties. The Debtor will also retain $50,000 after closing under the APA and use such funds to make payments under the Plan. The Debtor estimates that the unsecured creditors class will receive $23,100 under the Plan from the proceeds of the APA and, if Allowed professional fees are less than $50,000, the unsecured creditors class shall receive the net amount; provided, however, that if Allowed professional fees exceed $50,000, payments to satisfy the Allowed professional fees will be taken from the $23,100 that the unsecured creditors class would otherwise receive from the proceeds under the APA. In any event, Debtor believes that September 15, 2026, the earliest reasonable estimate of the Effective Date under the terms of the Plan, is reasonable. This will provide time for Overdrive to negotiate agreements with the Debtor's creditors (or determine that no agreement can be negotiated), finalize the APA, and complete the due diligence required under the APA. Class Four consists of allowed Unsecured Claims against the Debtor and the Claims that are deemed allowed by a Final Order. The unsecured creditors shall receive, pro rata, the net proceeds from the transaction contemplated under the APA after subtracting from such proceeds Allowed Priority Claims and Administrative Expenses, which shall be at least $23,100, and the remainder of the $50,000 the Debtor retains after paying Allowed professional fees. If Allowed professional fees exceed $50,000, the difference shall be paid from the $23,100 received under the APA to be paid to Allowed Unsecured Claims, and if Allowed professional fees are less than $50,000, the excess shall be added to the $23,100 to be paid to Allowed Unsecured Claims. However, until all Allowed Claims are determined by a Final Order, the proceeds to be paid to the Class Four Claimants shall be deposited and segregated in the Play Payment Fund, where it shall be held until all Claims are determined. Class Five consists of the Interests of the Debtor. Specifically, Class Five consists of the equitable interests of Asa Carpenter, the holder of 100% of the Debtor's ownership interests. The holder of Class Five interests will receive no distribution under the Plan. The ownership interests of the Class Five Claimholder shall be cancelled upon the closing under the APA and new shares shall be issued to Overdrive, free of all claims, liens, and all other liabilities. The Debtor will continue to operate its business between execution of the APA and closing under the APA, forwarding payments it receives during that interim period to Overdrive. In that interim period, Overdrive will negotiate with the holders of Claims One through Three and attempt to obtain mutually-agreeable terms for the payment or assumption of the associated debt. The Debtor shall pay the priority Claims and Administrative Claims within ten days of the Effective Date. The proceeds the Debtor receives under the APA, in combination with the $50,000 retained by the Debtor after closing under the APA shall be used to pay holders of Allowed Unsecured Claims from the Plan Payment Fund as stated herein once all Allowed Claims are determined, and all Allowed Administrative and Priority Claims are paid. Because the Debtor no longer proposes to continue operating its business to fund the Plan, and the Plan will instead be funded through the proceeds received under the APA plus $50,000 that the Debtor will retain after closing under the APA, projections concerning the Debtor's future performance are no longer relevant, except to the extent that they concern payment to Unsecured Claimholders from the proceeds under the APA and the $50,000 the Debtor retains after closing under the APA. A full-text copy of the Second Amended Disclosure Statement dated June 2, 2026 is available at https://urlcurt.com/u?l=eWU2yt from PacerMonitor.com at no charge. Kula Grain Co. Inc. is represented by: Jeffrey A. Weinman, Esq. Bailey C. Pompea, Esq. Allen Vellone Wolf Helfrich & Factor P.C. 1600 Stout Street, Suite 1900 Denver, CO 80202 Tel: (303) 534-4499 Email: JWeinman@allen-vellone.com Email: BPompea@allen-vellone.com About Kula Grain Co. Inc. Kula Grain Co. Inc. is a Fort-Morgan, Colorad-based grain merchant and interstate freight carrier that hauls dry-bulk farm commodities. Kula Grain Co. Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Col. Case No. 25-12338) on April 22, 2025. In its petition, the Debtor estimated assets and liabilities between $1 million and $10 million. Bankruptcy Judge Joseph G. Rosania Jr. handles the case. The Debtor is represented by Jeffrey A. Weinman, Esq. at ALLEN VELLONE WOLF HELFRICH & FACTOR, P.C. LEXORA INC: Gets Sixth Interim OK for Post-Petition Factoring Deal ------------------------------------------------------------------ Lexora Inc. received sixth interim approval from the U.S. Bankruptcy Court for the Southern District of New Dork to enter into a post-petition factoring arrangement with SouthStar Financial, LLC. Under the sixth interim order, the Debtor is authorized to sell up to $150,000 in accounts receivable to SouthStar from June 4 to June 25. The receivables sold under the post-petition factoring arrangement become the sole property of SouthStar and are transferred free and clear of liens and claims pursuant to Section 363(f) of the Bankruptcy Code. To secure the Debtor's obligations under the factoring arrangement, the court granted SouthStar first-priority post-petition liens on and security interests in substantially all pre-petition and post-petition assets of the Debtor, excluding certain carveouts such as U.S. trustee fees, limited Chapter 7 trustee fees, avoidance actions, and assets subject to purchase money security interests. The court further granted SouthStar superpriority administrative expense status under Section 364(c)(1) of the Bankruptcy Code, giving its claims priority over most other administrative expenses. In addition, the court granted replacement liens to SouthStar and two other secured creditors -- Dime Community Bank and Libertas Funding, LLC -- to protect against any diminution in the value of their collateral. Dime will also receive monthly payments of $17,280 as further protection. The court also lifted the automatic stay to permit SouthStar to collect directly on accounts receivable sold before and after the Debtor's bankruptcy filing, file financing statements, enforce remedies upon default, and recover fees and expenses under the factoring arrangement. Events of default include the dismissal or conversion of the Debtor's Chapter 11 case, confirmation of a bankruptcy plan, uncured defaults, and cessation of operations. A final hearing is scheduled for June 24, with objections due by June 17. The order is available at https://shorturl.at/91Lap About Lexora Inc. Lexora Inc., founded in 2009 and headquartered in New York, sells bathroom and kitchen products through online and showroom channels. It offers vanities, bathtubs, faucets, mirrors, lighting, and related accessories, and it also works with factories in Asia to develop and source its product lines. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Case No. 26-10751) on April 6, 2026, with $50,000 to $100,000 in assets and $1 million to $10 million in liabilities. Andrey Bogan, in his capacity as president, signed the petition. Robert L. Rattet, Esq., at avidoff Hutcher & Citron, LLP represents the Debtor as legal counsel. LIFE LINE: Seeks to Hire Lane Law Firm PLLC as Counsel ------------------------------------------------------ Life Line Plumbing LLC seeks approval from the U.S. Bankruptcy Court for the Southern District of Texas to employ Lane Law Firm PLLC as counsel. The firm will provide these services: a. assist, advise and represent the Debtor relative to the administration of the chapter 11 case; b. assist, advise and represent the Debtor in analyzing the Debtor's assets and liabilities, investigating the extent and validity of lien and claims, and participating in and reviewing any proposed asset sales or dispositions; c. attend meetings and negotiate with the representatives of the secured creditors; d. assist the Debtor in the preparation, analysis, and negotiation of any plan of reorganization and disclosure statement accompanying any plan of reorganization; e. take all necessary action to protect and preserve the interests of the Debtor; f. appear, as appropriate, before this Court, the Appellate Courts, and other Courts in which matters may be heard and to protect the interests of the Debtor before said Courts and the United States Trustee; and g. perform all other necessary legal services in these cases. The firm will be paid at these rates: Robert C. Lane $650 per hour Joshua D. Gordon $625 per partner Matthew Bourda, Senior attorney $625 per hour Zach Casas $600 per hour Kyle Garza $250 per hour bankruptcy paralegals $250 per hour The firm received a retainer in the amount of $35,000. Pre-petition, the Firm took $3,182.80 in expenses and $20,924.50 in earned fees. There is currently $10,892.70 in the Firm's IOLTA account. In addition, the firm will seek reimbursement for its out-of-pocket expenses. Robert C. Lane, 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: Robert C. Lane, Esq. The Lane Law Firm, PLLC 6200 Savoy, Suite 1150 Houston, TX 77036 Tel: (713) 595-8200 Fax: (713) 595-8201 Email: notifications@lanelaw.com About Life Line Plumbing LLC Life Line Plumbing, LLC is a Katy, Texas-based residential and commercial plumbing company formed in 2013. Life Line Plumbing sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Texas Case No. 26-33536) on May 20, 2026, with up to $100,000 in assets and up to $500,000 in liabilities. Jacob Rogers, company owner, signed the petition. Judge Jeffrey P. Norman oversees the case. Robert C. Lane, Esq., at The Lane Law Firm, represents the Debtor as bankruptcy counsel. LITHOTYPE COMPANY: Seeks to Extend Plan Exclusivity to Oct. 7 ------------------------------------------------------------- Lithotype Company Inc. asked the U.S. Bankruptcy Court for the Northern District of Illinois to extend its exclusivity periods to file a plan of reorganization to Oct. 7, 2026. The Debtor is an Illinois corporation which is in the business of manufacturing flexible packaging and printing, with its business premises located at 2 Territorial Court, Bolingbrook, Illinois 60440 ("Premises"). The Debtor's Chapter 11 case was filed due to the Debtor being unable to service its secured and unsecured debt. On Feb. 9, 2026, this court entered an order setting June 8, 2026, as the date for the filing of a plan of reorganization and disclosure statement. The Debtor explains that it is in the process of preparing a plan of reorganization and disclosure statement with attached five-year plan projections but is still in the process of assessing its post-petition financial results in order to draft its plan. The requested extension is the first extension requested by the Debtor. This Motion is not being brought to cause delay, no party will be prejudiced by the granting of the requested extension, and no prior extensions have been requested. About Lithotype Company Inc. Lithotype Company Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 26-02207) with $1 million to $10 million in assets and $10 million to $50 million in liabilities. The petition was signed by John E. Gerba as director of finance. Judge Daniel R. Fine oversees the case. The Debtor is represented by: Scott R. Clar, Esq. Crane, Simon, Clar & Goodman 312-641-6777 sclar@cranesimon.com LONE WOLF: Case Summary & Three Unsecured Creditors --------------------------------------------------- Debtor: Lone Wolf Real Estate Holdings, LLC 4815 Orchard Road Cleveland, OH 44128 Business Description: Lone Wolf Real Estate Holdings, LLC owns, operates, and leases facilities affiliated with dog training operations. The company operates from offices in Cleveland, Ohio. Chapter 11 Petition Date: June 9, 2026 Court: United States Bankruptcy Court Northern District of Ohio Case No.: 26-12668 Judge: Hon. Jessica E Price Smith Debtor's Counsel: Michael A Steel, Esq. MICHAEL STEEL 2950 West Market Street Suite G Fairlawn, OH 44333 Tel: (330) 223-5050 Email: msteel@steelcolaw.com Estimated Assets: $500,000 to $1 million Estimated Liabilities: $1 million to $10 million The petition was signed by Timothy L. Miller as managing member of TLM Holdings, LLC (sole member of the Debtor). A full-text copy of the petition, which includes a list of the Debtor's three unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/WMLRMYQ/Lone_Wolf_Real_Estate_Holdings__ohnbke-26-12668__0001.0.pdf?mcid=tGE4TAMA LORENZO'S DOG: Case Summary & 19 Unsecured Creditors ---------------------------------------------------- Debtor: Lorenzo's Dog Training Team, LLC 4815 Orchard Road Cleveland, OH 44128 Business Description: Lorenzo's Dog Training Team, LLC operates a dog training education organization for individuals seeking to become dog trainers. The company is based in Cleveland, Ohio. Chapter 11 Petition Date: June 9, 2026 Court: United States Bankruptcy Court Northern District of Ohio Case No.: 26-12667 Judge: Hon. Suzana Krstevski Koch Debtor's Counsel: Michael A Steel, Esq. MICHAEL STEEL 2950 West Market Street Suite G Fairlawn, OH 44333 Tel: (330) 223-5050 Email: msteel@steelcolaw.com Estimated Assets: $0 to $50,000 Estimated Liabilities: $1 million to $10 million The petition was signed by Timothy L. Miller as president. A full-text copy of the petition, which includes a list of the Debtor's 19 unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/RZE4R7Q/Lorenzos_Dog_Training_Team_LLC__ohnbke-26-12667__0001.0.pdf?mcid=tGE4TAMA M.D.K. HOLDINGS: Commences Chapter 11 Bankruptcy in Florida ----------------------------------------------------------- On June 10, 2026, M.D.K. Holdings LLC filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Middle District of Florida. According to court filings, the Debtor reports between $100,001 and $1,000,000 in debt owed to approximately 1–49 creditors. A meeting of creditors under Section 341(a) to be held on July 13, 2026 at 01:00 PM. U.S. Trustee (Orl) will hold the meeting telephonically. Call in Number: 888-330-1716. Passcode: 5814238#. Chapter 11 Plan and Disclosure Statement due October 8, 2026. About M.D.K. Holdings LLC M.D.K. Holdings LLC is a holding company engaged in the ownership, management, and oversight of business and investment assets. M.D.K. Holdings LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-04329) on June 10, 2026. In its petition, the Debtor reported estimated assets of $100,001–$1,000,000 and estimated liabilities of $100,001–$1,000,000. Honorable Bankruptcy Judge Lori V. Vaughan handles the case. The Debtor is represented by Jeffrey Ainsworth, Esq., of Bransonlaw PLLC. MAJESTIC DESSERTS: Seeks to Tap Lamb & Ambrose CPAs as Accountant ----------------------------------------------------------------- Majestic Desserts LLC seeks approval from the U.S. Bankruptcy Court for the District of New Jersey to employ Lamb & Ambrose, CPAs PC as accountant. The Debtor needs an accountant to prepare outstanding tax returns, monthly operating reports, and financials and projection as requested. The firm's professionals and staff will be paid at these hourly rates: Professionals $190 - $315 Support Staff $120 In addition, the firm will seek reimbursement for expenses incurred. The firm will require a retainer of $15,000. The firm represents no interest adverse to the Debtor or to the estate on the matters upon which it is to be engaged. The firm can be reached at: Lamb & Ambrose, CPAs PC 91 Mays Landing Road Somers Point, NJ 08244 Telephone: (609) 601-2670 About Majestic Desserts LLC Majestic Desserts, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.N.J. Case No. 26-13281) on March 26, 2026, with up to $50,000 in assets and liabilities. The Debtor tapped E. Richard Dressel, Esq., at Lex Nova Law, LLC as counsel and Lamb & Ambrose, CPAs PC as accountant. MAR ENTERPRISES: Gets Extension to Access Cash Collateral --------------------------------------------------------- MAR Enterprises, LLC received second interim approval from the U.S. Bankruptcy Court for the Southern District of Texas, McAllen Division, to use the cash collateral of the U.S. Small Business Administration. The court authorized the Debtor to use up to $248,213.25 in cash collateral. The funds may only be used in accordance with the operating budget. The order permits the debtor to exceed individual budget line items by up to 15%. As adequate protection, the U.S. Small Business Administration and other secured lenders holding perfected security interests will be granted replacement liens on the Debtor's post-petition assets including cash collateral, accounts receivable, contract rights and deposit accounts, maintaining the same validity, extent, and priority as their pre-petition liens. The replacement liens do not apply to Chapter 5 avoidance actions. The order preserves creditors' rights to seek additional protections, object to improper uses of cash collateral, or pursue other remedies available under bankruptcy or non-bankruptcy law. The court established a carveout for bankruptcy court fees, U.S. trustee fees, Subchapter V trustee fees and expenses, including $1,000 monthly interim payments, and court-approved fees of the Debtor's counsel. The Debtor's authority to use cash collateral will automatically terminate upon dismissal or conversion of its bankruptcy case; appointment of a Chapter 11 trustee or examiner with expanded powers; material default under the order; or failure to maintain insurance coverage. A final hearing is scheduled for July 6. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/vEyFg from PacerMonitor.com. About MAR Enterprises LLC MAR Enterprises, LLC operates a logistics and trucking business. MAR Enterprises filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. S.D. Texas Case No. 26-70123) on May 4, 2026, with up to $500,000 in assets and up to $1 million in liabilities. Melissa Haselden, Esq., at Haselden Farrow, PLLC serves as Subchapter V trustee. Judge Eduardo V. Rodriguez oversees the case. Marcos Demetrio Oliva, Esq., at Marcos D. Oliva, PC, represents the Debtor as legal counsel. MARK D. BORNSTEIN: Court Extends Cash Collateral Access to July 21 ------------------------------------------------------------------ The U.S. Bankruptcy Court for the Middle District of Florida, Orlando Division issued a third interim order extending Mark D. Bornstein Podiatry, LLC's authority to use cash collateral through July 21. Under the order, the Debtor is permitted to use cash collateral for court-authorized payments including U.S. Trustee fees; operating expenses listed on its approved budget, with flexibility of up to 10% for each budget category; and additional payment subject to approval by senior creditor C T Corporation System, as representative. The budget projects total operational expenses of $30,200 for the period from May to July. Mark D. Bornstein Podiatry is required to deposit all revenues and cash receipts into approved debtor-in-possession accounts. As adequate protection, C T and other secured creditors will be granted 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. The order preserves the rights of creditors, any future creditors' committee, and other parties in interest to seek additional protections or challenge asserted liens. the Debtor's authority to use cash collateral will automatically terminate if its Chapter 11 case is dismissed or converted to Chapter 7. A continued preliminary hearing is scheduled for July 21. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/BVW0A from PacerMonitor.com. About Mark D. Bornstein Podiatry LLC Mark D. Bornstein Podiatry, LLC provides podiatric medical services, including diagnosis and treatment of foot and ankle conditions, and operates a medical practice in Orlando, Florida. Mark D. Bornstein Podiatry filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. M.D. Fla. Case No. 26-00685) on February 1, 2026, listing assets of up to $50,000 and liabilities of between $1 million and $10 million. Andrew Layden serves as Subchapter V trustee for the Debtor. Judge Grace E. Robson presides over the case. Jeffrey Ainsworth, Esq., at Bransonlaw, PLLC represents the Debtor as bankruptcy counsel. MARS FX US: Committee Seeks to Hire Lowenstein Sandler as Counsel ----------------------------------------------------------------- The official committee of unsecured creditors appointed in the Chapter 11 case of Mars FX US LP seeks approval from the U.S. Bankruptcy Court for the Southern District of New York to employ Lowenstein Sandler LLP as counsel. The firm's services include: (a) advise the committee with respect to its rights, duties, and powers in this Chapter 11 case; (b) assist and advise committee in its consultations with the Debtor and any other regulators or court-appointed liquidators relative to the administration of this Chapter 11 case; (c) assist the committee in its investigation of the acts, conduct, assets, liabilities, and financial condition of the Debtor and any other third parties and of the operation of the its business; (d) assist the committee in analyzing the claims of the Debtor's creditors and any other third parties, and negotiating with holders of claims and equity; (e) assist the committee in its investigation of the claims of the holders of the Debtor's prepetition debt and the prosecution of any claims or causes of action revealed by such investigation; (f) assist the committee in its analysis of, and negotiations with, the Debtor or any other third parties concerning matters related to, among other things, any insurance claims asserted by it, the investigation and prosecution of any claims against it and/or its insiders and other third parties, financing of other transactions and the terms of one or more plans of reorganization or liquidation for it and accompanying disclosure statements and related plan documents; (g) assist and advise the committee as to its communications to unsecured creditors regarding significant matters in this Chapter 11 case; (h) represent the committee at hearings and other proceedings; (i) review and analyze applications, orders, statements of operations, and schedules filed with the Court and advise the committee as to their propriety; (j) assist the committee in preparing pleadings and applications as may be necessary in furtherance of the committee's interests and objectives in this Chapter 11 case; (k) prepare, on behalf of the committee, any pleadings; and (l) perform such other legal services as may be required or are otherwise deemed to be in the interests of the committee in accordance with its powers and duties as set forth in the Bankruptcy Code, Bankruptcy Rules, or other applicable law. The firm will be paid at these hourly rates: Partner $800 - $2,300 Of Counsel $955 - $1,685 Senior Counsel $710 - $1,695 Counsel $670 - $1,600 Associates $590 - $1,450 Staff Attorneys $500 - $965 Paralegals, Practice Support and Assistants $255 - $540 In addition, the firm will seek reimbursement for expenses incurred. Jeffrey Cohen, Esq., an attorney at Lowenstein Sandler, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Jeffrey L. Cohen, Esq. Lowenstein Sandler LLP 1251 Avenue of the Americas New York, NY 10020 Telephone: (212) 262-6700 Facsimile: (212) 262-7402 Email: jcohen@lowenstein.com About Mars FX US LP Mars FX US LP sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Case No. 26-22287) on March 23, 2026. At the time of the filing, the Debtor had estimated assets of between $0 to $50,000 and liabilities of between $10,000,001 to $50 million. The Debtor's business involved an onshore feeder structure within a cross-border investment arrangement. Judge Kyu Y. Paek oversees the case. Rimon P.C. is Debtor's proposed legal counsel. On Apr. 27, 2026, the Office of the United States Trustee appointed an official committee of unsecured creditors in this Chapter 11 case. The committee tapped Lowenstein Sandler LLP as counsel. MERCY HOSPITAL: MercyOne Lacks Standing to Appeal Plan Approval --------------------------------------------------------------- In the appeal styled Mercy Health Network, doing business as MercyOne, Appellant - Appellant v. Mercy Hospital, Iowa City, IA, also known as Mercy Iowa City, also known as Mercy Home Care, also known as Mercy Iowa City Home Care, also known as Mercy Iowa City Cancer Care, also known as Mercy Iowa City Heart Care; Mercy Services Iowa City, Inc.; Mercy Iowa City ACO, LLC, Appellees; Dan Childers, Successor Liquidation Trustee of the Mercy Hospital Liquidation Trust, Trustee - Appellee, No. 25-1654 (8th Cir.), Judges Bobby E. Shepherd, Jane L. Kelly and David Stras of the U.S. Court of Appeals for the Eighth Circuit affirmed the dismissal by the United States District Court for the Northern District of Iowa of Mercy Health Network's appeal of the bankruptcy court's confirmation of the plan of reorganization of Mercy Hospital, Iowa City, Iowa. MercyOne is a creditor of Mercy Hospital, a debtor in Chapter 11 bankruptcy proceedings. The district court dismissed MercyOne's appeal, holding that it was not a "person aggrieved" by the order and thus lacked standing. The Debtors' plan of reorganization included "Third-Party Releases" that prevent non-debtor third parties from bringing future lawsuits related to the Debtors against third parties affiliated with the Debtors. MercyOne opted out of the Third-Party Releases and objected to the Plan's confirmation in bankruptcy court. MercyOne's sole objection was that the Third-Party Releases and Debtor Releases were overbroad because they extended protection to remote third parties and were thus invalid under In re Master Mortgage Investment Fund, Inc., 168 B.R. 930 (Bankr. W.D. Mo. 1994). MercyOne's claim against the Debtors was approximately $31,500 -- well below 0.1% of the total amount of allowed claims. Because this claim was unsecured and was not to be paid in full, MercyOne is an impaired creditor. Notwithstanding MercyOne's vote against the Plan, the five voting classes voted to approve the Plan with approval ranges from 88.14% to 100% by vote number. MercyOne's objection was the only one pending at the time that the bankruptcy court confirmed the Plan. The bankruptcy court found that MercyOne lacked standing to challenge the validity of the releases. Because MercyOne had already opted out of the Third-Party Releases, it was not bound by them in the first place and did not stand to gain anything if the releases were invalidated. And because MercyOne offered no credible argument that the Debtor Releases harmed its ability to recover on its claim, it also lacked standing to challenge them. Accordingly, the bankruptcy court overruled MercyOne's objection and confirmed the plan. MercyOne then appealed the bankruptcy court's decision to the district court, and the Debtors responded by moving to dismiss for lack of standing. The district court agreed with the bankruptcy court and dismissed MercyOne's appeal for lack of standing. It found that MercyOne lacked standing to challenge the Third-Party Releases because MercyOne had already opted out of them, and it rejected MercyOne's theories of harm allegedly caused by the Debtor Releases as being either "purely speculative" or not supported by law. Accordingly, the districtcourt granted the Debtors' motion to dismiss. MercyOne challenges the district court's dismissal of its appeal based on lack of standing. According to the panel, "MercyOne would not gain anything from a reversal of the bankruptcy court's order. Because MercyOne already opted out of the Third-Party Releases, it is not bound by them regardless of whether they are held to be enforceable. MercyOne cannot gain a new ability to sue the Remote Released Parties because it never surrendered this right in the first place. As the bankruptcy court's order here did not increase MercyOne's burdens or diminish its rights but merely maintained the status quo ante, MercyOne cannot challenge it. Furthermore, the mere fact that MercyOne wants to correct a perceived error in the Plan does not give MercyOne standing to appeal." The panel holds, "Having jurisdiction under 28 U.S.C. Sec. 1291, we affirm the district court's dismissal of the appeal." MercyOne argues that it has standing because the inability of the Liquidation Trustee to sue the released parties, due to the Debtor Releases, could theoretically lower the total amount of funds recovered for the creditors, which would reduce the pro rata share distributed to MercyOne. But the panel says this theory of harm is completely speculative. MercyOne also argues that it has standing because, as an impaired creditor, it will not recover its entire claim under the Plan. But MercyOne does not seek to recover its claim in full under the Plan; it only seeks to invalidate the releases of remote third parties, by which it was never bound. MercyOne also does not point to any precedent from this Court establishing that impaired creditors automatically have standing to appeal a bankruptcy court order, and the out-of-circuit cases it cites do not apply because they all involve creditors who, unlike MercyOne, sought to remedy concrete pecuniary harms under the order challenged. A copy of the Court's Opinion dated June 12, 2026, is available at https://urlcurt.com/u?l=KPwnzZ About Mercy Hospital, Iowa City Mercy Hospital, Iowa City, Iowa is a Catholic-based Iowa nonprofit corporation that operates an acute care community hospital and clinics in Iowa City, Iowa, and surrounding communities. Mercy Hospital and affiliates, Mercy Iowa City ACO, LLC and Mercy Services Iowa City, Inc., filed Chapter 11 petitions (Bankr. N.D. Iowa Lead Case No. 23-00623) on Aug. 7, 2023. In the petition signed by its chief restructuring officer Mark E. Toney, Mercy Hospital disclosed $100 million to $500 million in both assets and liabilities. Judge Thad J. Collins oversees the cases. The Debtors tapped Nyemaster Goode, P.C and McDermott Will & Emery LLP as bankruptcy counsels; H2C Securities Inc. as investment banker; and Epiq Corporate Restructuring, LLC as notice and claims agent. Toneykorf Partners, LLC provides interim management services to the Debtors. Mary Jensen, Acting U.S. Trustee for Region 12, appointed an official committee of unsecured creditors on Aug. 15, 2023. The committee tapped Sills Cummis & Gross P.C. and Cutler Law Firm, P.C. as legal counsels; and FTI Consulting, Inc. as financial advisor. Susan N. Goodman was the patient care ombudsman appointed in the Debtors' cases. The Debtors' bankruptcy-exit plan was confirmed on June 7, 2024. Under the Plan, Dan R. Childers was appointed as Trustee of the Mercy Hospital Liquidation Trust. MERIDIAN ARC: S&P Assigns 'BB-' Rating to New Senior Secured Notes ------------------------------------------------------------------ S&P Global Ratings assigned its 'BB-' rating to Meridian Arc HoldCo LLC's (Meridian or the project) proposed senior secured notes. The recovery rating is '2', which indicates the likelihood of a substantial recovery in an event of default. The project's operating risk profile reflects its highly stable and resilient cash flows underpinned by a 15-year triple net lease with Fluidstack USA V Inc. (Fluidstack USA, not rated). Google LLC (Google), a subsidiary of Alphabet Inc., is guaranteeing Fluidstack USA's rent obligations under the lease, which S&P views as positive from a credit perspective. S&P said, "Under our base case scenario, which assumes the contractual lease rate payable by Google if it steps into the lease due to an uncured default by Fluidstack USA, we estimate a minimum debt service coverage ratio (DSCR) of about 1x through the end of the lease term. "The stable outlook reflects our expectation that the data centers and complementary infrastructure will be built on time and budget. We also expect the buildings to be delivered and leases to commence during late 2027 and early 2028 and the project to generate sufficient cash flows to meet its debt service obligations through the 15-year lease." Meridian has raised $5.7 billion in senior secured notes. Proceeds are being used to partially fund the purchase of land and the development of two new data centers with a combined critical IT load of 430 megawatts (MW) and a substation in Indiana. There is a $548 million equity injection to complement the acquisition and works. Meridian is a holding company that is developing a 430 MW (critical IT load) data campus in Indiana. The project will include two data center buildings with individual critical IT loads of 245 MW and 185 MW. The company is owned by Fluidstack Indiana Inc., a subsidiary of Fluidstack Ltd. (Fluidstack), and Frontier Holdings Indiana LLC, which is a platform incubated by Coatue Management LLC. The project is a highly contracted asset with strong cash flow visibility over the long term. Meridian's asset base will largely represent two data center buildings that will be leased to Fluidstack USA for 15 years. There are also three five-year extension options that can be exercised at the discretion of the tenant. In conjunction with the target in-service dates for both buildings, the leases will fully commence (commencement dates vary by data halls, starting in August 2027 for the first building) between late 2027 to early 2028. The base rent under the lease is fixed, albeit it is also based on a yield-to-cost formula, which increases the base rent (at a diminishing rate and capped at $18 million per MW) based on the construction cost of the project, including financing cost. This mechanism is designed to ensure that any potential and unmitigated cost overruns are rentalized and recovered via revenues in the future, preserving the project's debt service capability over the term of the lease. The base rate under the lease also has escalation provisions that inflate revenues by 3% annually. In addition, because the leases are triple net, meaning the tenant is responsible for all operating expenses (including power costs) and insurance and property taxes, an escalating revenue profile expands the project's cash flow generation capacity over time. S&P considers these factors as highly credit supportive. S&P said, "We assume Google steps into the leases at their commencement. Fluidstack USA is the primary tenant under the leases, but given its privately held nature, there is limited financial visibility on the entity. Therefore, our base case assumes Fluidstack USA defaults at lease commencement and Google steps into the lease as the tenant, per the terms of the guaranty." Under such a scenario, however, the base rent is contractually designed to step down materially (by 25%) relative to what Fluidstack USA would have been obligated to pay, although it also provides a certain floor and a revenue counterparty default mitigant to the project. S&P also notes that under such a scenario with reduced cash flows, the base rate will still be sufficient for the project to cover its debt service obligations at a 1x DSCR and be able to likely fully repay its debt within the 15-year lease term. If Fluidstack USA continues to honor its obligations through the term of the lease, rent payments will be higher such that the DSCR is about 1.25x. This reflects meaningful headroom in credit metrics to absorb any unforeseen risks during operations. Google is providing a critical financial backstop. Its guaranty for the full and prompt payment of all unpaid amount of rent under the leases is a key credit strength. Under the terms of the guaranty, which commences with the leases, if Fluidstack USA defaults on rent payments under the lease, Google has multiple options to remedy the default. It can either 1) cure the default, 2) assume the lease as the tenant, or, 3) pay a termination fee equal to the present value of the remaining rent payments for the balance of the lease term, discounted at 3% per annum. If the default occurs within the first six years of the lease, Google will have the option to either cure the lease or assume the lease as the tenant. The termination fee is not available during the first six years of the lease. Based on the projected rent profile, the peak value of the guaranty is at about $7.8 billion, and it will progressively decline over time as rent payments are made under the lease. S&P views the guaranty structure as highly robust and credit supportive. It also understands the termination of the guaranty is only possible upon the full payment of the guaranteed amounts, Google's assumption of the lease, or the tenant achieving an investment-grade credit rating. In addition, the guaranty will also remain in full force if the lease is transferred to another party. The project's ability to raise debt during operations remains a risk. There are provisions under the indenture that allow the project to raise incremental debt once the data centers are operational and leases have commenced. While some incremental debt conditions are customary in nature and represent routine business activities, the project can raise additional debt up to 100% of its net operating income for the past four quarters, but this amount is capped to the amount of principal repayments it has made since the issuance of the notes. The cap ensures the amount of debt, pro forma for the incremental debt, does not exceed $5.7 billion. In addition, Meridian also can raise incremental debt (only after the leases have commenced) equal to the difference between the total budgeted project cost ($6.2 billion) and the amount of issued notes ($5.7 billion), net of the DSRA. If exercised fully at the currently anticipated construction cost levels, this could result in a 95% debt-funded project (versus 91% currently). S&P said, "While we generally expect sponsors to prudently utilize these baskets, their presence nonetheless reflects risk of future leveraging. We also consider this factor in conjunction with the step down in lease rates if Google assumes the lease, as per our base case. Because the rent payments are sized to a 1x DSCR if Google is the tenant, having incremental debt (likely prior to Google assuming the lease) without a corresponding increase to underlying cash flows would significantly weaken debt service capacity and, in the extreme, might make the capital structure unsustainable. "We believe the GMP structure mostly transfers cost escalation risk to ARCO; however, the GMP has not yet been established. ARCO is leading the construction of the data center buildings under an EPC contract. The lender technical advisor noted ARCO has the capabilities and expertise to deliver under this project and we do not see significant differences with other rated transactions in this sector that could pose additional risks." Under the GMP structure, ARCO bears the cost escalation risk, except in some contractually permitted scenarios, such as approved change orders and events, force majeure (FM), unforeseen site conditions, owner-caused delay, etc. Of note, the definition of FM does not include labor shortages (including subcontractors), failure or delay in obtaining permits, shortage or price fluctuation of materials and supplies (unless directly caused by an independent FM event), disruptions in global supply chain, etc. That said, the GMP has not yet been established because the design development is ongoing and is driving multiple components of the project, including GMP pricing. At this stage, 60% of the design is complete for both buildings and 90% of the issue for permit is expected in June 2026. In addition, Fluidstack indicated that all long-lead equipment orders will be issued by end of April 2026 and it does not anticipate delays to equipment procurement or delivery. S&P will monitor the project's EPC activities through the construction period. Based on the shared project budget and financing plan, S&P understands there is a reasonable amount of contingency (about 8%) to absorb cost escalations between now and when the GMP is set, as well as beyond. In an event where ARCO is unable to achieve the target floor access dates as defined in the leases, the project is owed liquidated damages (LD), which are capped at 3.5% and 3.9% for buildings 1 and 2, respectively. Depending on the number of days of delay, the project would also owe rent credits to Fluidstack USA, which can be partially offset by the LDs. The sponsors are also collectively providing $200 million in completion guarantees for both buildings, which provide a potential avenue of funding in case of delays and unmitigated cost overruns. Finally, warrants pledged during construction for the benefit of the noteholders are an additional buffer, although their amount is subject to valuation changes for Fluidstack. There is refinancing risk. Given the term of the proposed senior notes is five years, the project is exposed to refinancing risk at the time of debt maturity. Refinancing prospects and credit spreads can be affected by factors that are outside of project control, such as the general macroeconomic situation, industry conditions, market appetite for the asset class, etc. This risk is especially relevant in the scenario where Google takes over the lease (if Fluidstack USA defaults), lowering the revenues for the project because of the contractual step down in lease rates. That said, based on our scenario analysis, we believe Meridian will be able to sustain 1x DSCR (assuming Google step down lease rates) and fully repay the debt through the end of the lease term, even if the interest rate on its refinanced debt increases to 8.75% per annum. We believe this represents a reasonable downside cushion; however, this factor remains a risk. S&P said, "The stable outlook reflects our expectation that the data centers and complementary infrastructure will be built on time and budget. We also expect the buildings to be delivered and leases to commence during the late 2027 and early 2028 period and the project to generate sufficient cash flow to meet its debt service obligations through the 15-year lease. "We would consider a negative rating action if we believed the project faces material execution and/or cost overrun risks. We could also consider lowering the rating if we envisioned the project's DSCRs would decline below 1x the term of the lease, under Google step-in rates. Given the project's high cash flow visibility from its triple-net structure, we believe such a scenario is unlikely. "We could also consider lowering the rating if the project took incremental debt without mitigating factors, such as an increase in its cash flow over the life of the lease. "While unlikely, we could consider raising the rating if we believed the project could achieve DSCRs of above 1.05x on a sustained basis under the Google step-in scenario. Given the fixed nature of project cash flows, we expect this scenario to be remote." MISS AMERICA: CEO Seeks Court Ban on Former Attorney ---------------------------------------------------- Emily Lever of Law360 Bankruptcy Authority reports that Miss America CEO Robin Fleming and companies tied to the pageant urged a Florida federal judge Thursday to bar Carlton Fields from attending a status conference in litigation arising from the firm's former representation of the organizations. According to the filing, the pageant entities maintain that Carlton Fields lacks standing to participate because it is now an adverse party in the dispute. The plaintiffs argued that allowing the firm to appear could blur the distinction between counsel and litigant. The case centers on allegations involving legal services, billing issues and the firm's conduct during its prior representation. The parties continue to battle over the scope of Carlton Fields' role in the proceedings, the report relays. 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. MOGENAVLAND LLC: Commences Chapter 11 Bankruptcy in New Jersey -------------------------------------------------------------- On June 4, 2026, Mogenavland LLC filed for Chapter 11 protection in the U.S. Bankruptcy Court for the District of New Jersey. According to court filings, the Debtor reports between $500 million and $1 billion in debt owed to between 50,001 and 100,000 creditors. Chapter 11 plan-filing exclusivity for the Debtors ends on October 2, 2026. About Mogenavland LLC Mogenavland LLC is a real estate holding and investment company engaged in property ownership, leasing, and asset management activities. Mogenavland LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-16429) on June 4, 2026. In its petition, the Debtor reports estimated assets between $100 million and $500 million and estimated liabilities between $500 million and $1 billion. Honorable Bankruptcy Judge Christine M. Gravelle handles the case. The Debtor is represented by Michael D. Sirota, Esq. of Cole Schotz P.C. MVP GROUP: Unsecured Creditors Will Get 10% over 60 Months ---------------------------------------------------------- MVP Group, LLC filed with the U.S. Bankruptcy Court for the Southern District of Florida a Disclosure Statement describing Plan of Reorganization dated June 2, 2026. The Debtor was organized as a Florida limited liability company in 2012, as MVP Equipment Group, LLC. In 2015, the Debtor changed its name to MVP Group, LLC. The Debtor is owned as follows: (a) Michael Bromberg (99%), and (b) Manon Bromberg (1%). The Debtor is an industry leading foodservice equipment manufacturer and distributor of commercial kitchen equipment. Products are sold under 9 proprietary trademarked brands, including refrigerator units and merchandizing displays, freezers, convection ovens, gas ranges, dishwashing equipment, mixers, and slicers. As of the Filing Date, the Debtor was headquartered and operated from leased premises located at 3560 NW 56th Street, Fort Lauderdale, Florida 33309. As of the Filing Date, the Debtor operated continuously for approximately 13 years. While the Debtor continued to enjoy strong brand name recognition and loyalty, as well as stable, quality vendor relationships, several factors outside the Debtor's control negatively impacted the Debtor's operations during the couple of years preceding the Filing Date. First, the Debtor had to switch production factories for one of its renowned brands due to a supply chain crisis in 2022. This ultimately led to delays in production, and the Debtor had no choice but to switch again to another producer. Then, a substantial amount of delivered products fell below the Debtor's quality standards and led to a rejection of goods, which resulted in customer delays. Second, the Debtor experienced quality issues with another producer that led to the cancellation of some orders in 2023. Consequently, the Debtor undertook an internal restructuring, including a reduction in management headcount, the outsourcing of customer service, and a reduction of warehousing service locations. However, while management's efforts ameliorated the situation, the Debtor resolved to file for Chapter 11, in part, to restructure accumulated debt and debt service requirements, so that the Debtor may continue providing quality products and maintain its substantial relationships with customers and vendors. The Debtor entered negotiations with the Plan Sponsor. As part of these negotiations, the Debtor also negotiated a term sheet with AFS, which is incorporated in Section 4.02 of the Plan. Class 6 consists of the Allowed Unsecured Claims against the Debtor. The holders of Allowed Class 6 Claims shall receive Distributions equal to ten percent of the Allowed Class 6 Claims. Such Distributions shall be paid monthly over a period of five (5) years, or sixty equal monthly installments. Each monthly Distribution shall be in the amount of (i) the Allowed Class 6 Claim, (ii) multiplied by ten percent, and then (iii) divided by 60. Each holder of an Allowed Class 6 Claim shall be paid its Pro Rata Portion of Distributions on account of the Allowed Class 6 Claims commencing on the later of thirty days after the Effective Date, or the date on which any Class 6 Claim becomes an Allowed Class 6 Claim, and each thirty days thereafter. The Class 6 Claims are Impaired. The allowed unsecured claims total $7,917,178.43. Class 7 consists of Allowed Equity Interests in the Debtor. The holders of Allowed Class 7 Interests shall be cancelled under the Plan on the Effective Date. The Class 7 Interests are Impaired. Upon confirmation of the Plan, in accordance with the Confirmation Order, the Debtor or Reorganized Debtor, as the case may be, will be authorized to take all necessary steps, and perform all necessary acts, to consummate the terms and conditions of the Plan. In addition to the provisions set forth elsewhere in the Plan, the following shall constitute the means for implementation of the Plan. Distributions under the Plan will be derived from the following (the "Plan Sponsor Transaction"): (a) on the Effective Date, in exchange for the Plan Sponsor receiving 100% of the membership interests to be issued in the Reorganized Debtor, the Plan Sponsor shall contribute an amount, not to exceed $250,000.00, for purposes of paying any Allowed Administrative Claims; (b) the Plan Sponsor shall contribute an amount, not to exceed $50,000.00, for purposes of paying any Allowed Priority Tax Claims and any Allowed Priority Claims; however, in the event the total amount of Allowed Priority Tax Claims exceeds $50,000.00, then the holders of Allowed Priority Tax Claims shall be paid over a period not to exceed five years from the Effective Date, in equal monthly payments commencing thirty days following the Effective Date; (c) the Plan Sponsor shall contribute the amount of $500,000.00 for purposes of funding the Initial Class 2 Distribution; and (d) the Plan Sponsor shall contribute the amount of $500,000.00 to be used towards funding the Reorganized Debtor's business operations, including, without limitation, payment of operating expenses. Any other Distributions due under the Plan shall be derived from the Reorganized Debtor's Cash available from operations. A full-text copy of the Disclosure Statement dated June 2, 2026 is available at https://urlcurt.com/u?l=KvVuQL from PacerMonitor.com at no charge. MVP Group LLC is represented by: Michael D. Seese, Esq. Seese, P.A. 101 N.E. 3rd Avenue, Suite 1500 Ft. Lauderdale, FL 33301 Tel: (954) 745-5897 Email: mseese@seeselaw.com About MVP Group LLC MVP Group LLC is a Fort Lauderdale-headquartered distributor of commercial food service equipment. The Company supplies products to restaurants, hotels, schools, government institutions, and other foodservice operators, with clients including global chains such as Subway, Burger King, Marriott and Best Western. MVP Group supports its operations through a network of warehouses, inventory centers and authorized service agents throughout North America. MVP Group LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 25-20199) on Aug. 29, 2025. In its petition, the Debtor reports estimated assets between $1 million and $10 million and estimated liabilities between $10 million and $50 million. Honorable Bankruptcy Judge Scott M. Grossman handles the case. The Debtor is represented by Michael D. Seese, Esq. at SEESE, P.A. NETCAPITAL INC: Pursues $5 Million Acquisition of Resmac Assets --------------------------------------------------------------- Netcapital Inc. announced in a regulatory filing that it entered into a non-binding letter of intent, dated May 30, with RezyFi, Inc., a Florida corporation, regarding the proposed acquisition by a newly formed wholly owned South Dakota subsidiary of the Company of substantially all of the assets and assumed liabilities of Resmac, Inc., a Florida corporation and wholly owned subsidiary of RezyFi. "Entering into this LOI reflects our strategy to pursue opportunities that can add new revenue streams while leveraging our existing business, technology infrastructure and capital markets capabilities," said Todd Violette, Chief Executive Officer of Netcapital. "The proposed Resmac asset purchase would bring an operating mortgage banking platform with established regulatory approvals, lending infrastructure and customer relationships into a structure we believe is highly complementary to Netcapital's private capital markets ecosystem. "By combining Resmac's mortgage origination and servicing capabilities with Netcapital's experience in capital formation, investor engagement and scalable financial technology, we believe SD Holdco could become a dedicated platform for growth in financial services while allowing Netcapital to remain focused on its AI-powered private capital markets strategy," added Violette. The proposed transaction remains subject to due diligence, regulatory approvals, board approval, execution of a definitive agreement, and other closing conditions. Except for Sections 6, 7, and 8 of the LOI, including exclusivity, confidentiality, public disclosure, expenses, governing law, no broker, counterpart signatures, and related general provisions, the LOI does not constitute a binding agreement to consummate the proposed transaction, and no binding obligation to consummate the proposed transaction will arise unless and until the parties execute a definitive agreement. Resmac is a residential mortgage bank. According to the LOI, Resmac holds active HUD Title II non-supervised direct endorsement mortgagee approval, operates in eleven states, and maintains warehouse financing relationships. The LOI contemplates that the proposed transaction would be structured as an asset purchase by SD Holdco of substantially all of the assets and assumed liabilities of Resmac, including state mortgage lending licenses, HUD Title II non-supervised direct endorsement mortgagee approval and related FHA certifications and approvals, mortgage servicing rights, mortgage loans held for sale and investment, technology systems and loan origination platforms, trade names, domain names, trademarks, customer and borrower relationships, and other contracts and operating arrangements necessary to conduct Resmac's mortgage origination, servicing, and related business as a going concern, in each case subject to required consents and approvals. Under the LOI, the total acquisition value for the acquired assets is $5,000,000, payable solely through the issuance by SD Holdco to RezyFi of 2,500,000 shares of SD Holdco Series A Convertible Preferred Stock, with a stated value of $2.00 per share. No cash consideration would be paid by the Company, and no shares of the Company's common stock or other securities of the Company would be issued as acquisition consideration. The SD Holdco preferred stock would not be convertible into, or exchangeable for, securities of the Company. The LOI provides that the SD Holdco preferred stock would have cumulative dividends at a rate of 6% per annum on the stated value, payable in kind in additional shares of SD Holdco preferred stock only when, as, and if declared by the SD Holdco board of directors; would be convertible only into shares of SD Holdco common stock; would vote together with SD Holdco common stock on an as-converted basis; would have a liquidation preference equal to the stated value plus accrued and unpaid dividends; and would be subject to an eighteen-month lock-up period following the spinout or conversion, as applicable. The LOI also provides that RezyFi may be eligible to receive additional shares of SD Holdco preferred stock if specified milestones are achieved. These potential earnout shares include up to 1,000,000 additional shares of SD Holdco preferred stock if the Resmac business unit achieves cumulative GAAP revenue of at least $10,000,000 within twenty-four months after closing, as confirmed by SD Holdco's independent accountants, and up to 500,000 additional shares of SD Holdco preferred stock if SD Holdco completes a Form S-1 registered public offering declared effective by the Securities and Exchange Commission resulting in gross proceeds of at least $10,000,000. The LOI contemplates that, following closing, the Company and SD Holdco would use commercially reasonable efforts to prepare and file with the Securities and Exchange Commission a registration statement on Form S-1 registering equity securities of SD Holdco for public distribution. The LOI states that SD Holdco would target gross proceeds from the S-1 offering of not less than $15,000,000. The LOI further contemplates that the Company would distribute its interest in SD Holdco to Company shareholders of record as a dividend spinout, creating a separate public financial services company in which both Company shareholders and RezyFi would hold equity interests. No assurance can be given that any S-1 registration statement will be filed or declared effective, that any financing will be completed, that any trading market for SD Holdco securities will develop, or that any spinout or distribution will occur. The closing of the proposed transaction is subject to multiple conditions, including, among others: prior written approval from HUD for the change of control of Resmac's Title II non-supervised direct endorsement mortgagee approval; written evidence satisfactory to the Company's independent counsel that RezyFi's existing share exchange agreement with ECGI Holdings, Inc. has been validly terminated, has expired by its terms, or does not restrict or encumber the proposed transaction; written consents from Resmac's warehouse lenders; receipt of, or written confirmation of pending approval of, required state mortgage lending license transfers or new applications; completion of confirmatory due diligence by the Company to its satisfaction within forty-five days after execution of the LOI; no material adverse change in Resmac's business, financial condition, regulatory approvals, HUD approval status, or warehouse lending availability; approval of the proposed transaction by the Company's board of directors following disclosure of all related-party relationships; filing of the certificate of designation for the SD Holdco preferred stock; execution of specified leadership and compensation arrangements; and execution of a definitive agreement and ancillary agreements satisfactory to both parties and their respective independent legal counsel. The LOI includes a binding exclusivity provision. During the ninety-day period following execution of the LOI, RezyFi, Resmac, and their respective officers, directors, shareholders, employees, agents, and advisors may not solicit, initiate, encourage, entertain, or engage in discussions or negotiations regarding competing acquisition, merger, asset sale, equity investment, or similar transactions involving Resmac or its assets. The exclusivity provision expressly includes any action to advance, consummate, or extend the closing of RezyFi's existing agreement with ECGI Holdings, Inc. If RezyFi breaches the exclusivity covenant, including by re-engaging ECGI Holdings, Inc. or any other third party during the exclusivity period, RezyFi is required to pay the Company $250,000 in cash within ten business days of the breach as liquidated damages, without prejudice to equitable remedies including specific performance and injunctive relief. The Company may terminate the LOI and its obligations thereunder at any time upon written notice to RezyFi, including following completion of due diligence, with no payment or other obligation to RezyFi. The LOI also contains binding confidentiality and public disclosure provisions. The parties agreed to maintain the confidentiality of non-public information received in connection with the LOI and the proposed transaction, subject to specified exceptions. The LOI provides that the Company, as a reporting company under the Securities Exchange Act of 1934, is required to file a Current Report on Form 8-K with the Securities and Exchange Commission disclosing execution of the LOI. The LOI also provides that RezyFi will have advance notice and a reasonable opportunity to review public disclosure for factual accuracy prior to filing. The LOI states that the Company is required to disclose the pre-existing personal and professional relationship between Todd Violette, the Chief Executive Officer of the Company, and John Vu, the Chief Executive Officer of RezyFi, and the investment of approximately $250,000 held by VUVU Ventures, an entity affiliated with the Company's Chief Executive Officer, in ECGI Holdings, Inc. The full text of the LOI is available at https://tinyurl.com/yxe7wsrx About Netcapital Inc. Headquartered in Boston, Mass., Netcapital Inc. -- www.netcapital.com -- is a fintech company with a scalable technology platform that allows private companies to raise capital online and provides private equity investment opportunities to investors. The Company's consulting group, Netcapital Advisors, provides marketing and strategic advice and takes equity positions in select companies. The Company's funding portal, Netcapital Funding Portal, Inc. is registered with the U.S. Securities & Exchange Commission (SEC) and is a member of the Financial Industry Regulatory Authority (FINRA), a registered national securities' association. Spokane, Washington-based Fruci & Associates II, PLLC, the Company's auditor since 2017, issued a "going concern" qualification in its report dated August 12, 2025, attached to the Company's Annual Report on Form 10-K for the fiscal year ended April 30, 2025, citing that the Company has a negative working capital, operating losses, and negative cash flows from operations. These factors, among others, raise substantial doubt about the Company's ability to continue as a going concern. As of January 31, 2026, the Company had $26.06 million in total assets, $4.46 million in total liabilities, and $21.60 million in total stockholders' equity. NEW LIFE PROPERTY: Initiates Chapter 7 Bankruptcy in Florida ------------------------------------------------------------ On June 8, 2026, New Life Property Management LLC filed for Chapter 7 protection in the U.S. Bankruptcy Court for the Southern District of Florida. According to court filings, the Debtor reports between $1 million and $10 million in debt owed to 1-49 creditors. About New Life Property Management LLC New Life Property Management LLC is a Florida-based property management company engaged in the administration, leasing, maintenance, and oversight of residential and commercial real estate assets. New Life Property Management LLC sought relief under Chapter 7 of the U.S. Bankruptcy Code (Bankr. Case No. 26-17450) 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 Peter D. Russin handles the case. NORTH JERSEY: Voluntary Chapter 11 Case Summary ----------------------------------------------- Debtor: North Jersey Living LLC 41-51 Wilson Ave Apt. I-5 Newark, NJ 07105 Business Description: North Jersey Living LLC is a Newark, New Jersey-based real estate entity that owns a residential multifamily property at 54-56 North 3rd Street in Paterson, New Jersey. Chapter 11 Petition Date: June 9, 2026 Court: United States Bankruptcy Court District of New Jersey Case No.: 26-16653 Judge: Hon. Vincent F Papalia Debtor's Counsel: John O'Boyle, Esq. NORGAARD OBOYLE HANNON 184 Grand Avenue Englewood, NJ 07631 E-mail: joboyle@norgaardfirm.com Total Assets: $0 Total Liabilities: $1,321,786 The petition was signed by Joaquim Ferreira 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/NFKADAQ/North_Jersey_Living_LLC__njbke-26-16653__0001.0.pdf?mcid=tGE4TAMA NORTH STAR: Seeks to Extend Plan Exclusivity to Oct. 8 ------------------------------------------------------ North Star Health Alliance, Inc. and affiliates asked the U.S. Bankruptcy Court for the Northern District of New York to extend their exclusivity periods to file a plan of reorganization and obtain acceptance thereof to Oct. 8 and Dec. 7, 2026, respectively. This is the Debtors' first request for extension of the Exclusivity Period and Solicitation Period. The Debtors are working diligently with the New York State Department of Health (the "DOH") and their other stakeholders to securing DIP financing and identifying a partner with whom to implement their restructuring strategy, along with a Safety Net Transformation grant, culminating in a confirmed plan going effective before year end. The Debtors explain that an analysis of the various factors noted demonstrates that sufficient cause exists for extending the Exclusivity Period and Solicitation Period to October 8, and December 7, 2026, respectively. First, the size and complexity of these cases warrant an extension of the Exclusivity Period and Solicitation Period. The Debtors operate multiple medical facilities in two counties in Upstate New York, maintain a substantial workforce, and have approximately 4,000 creditors. Second, the Debtors' significant progress to date in these Chapter 11 Cases justifies the requested extension of the Debtors' exclusive periods. The Debtors have also made substantial good faith progress in meetings with four prospective partners, for which they intend to select a partner by June 20, which is, of necessity, a prerequisite toward formulation of a chapter 11 plan. The Debtors require additional time to: (i) negotiate the terms of an affiliation with their selected partner and begin the process of implementation; (ii) negotiate with creditors concerning the terms of, and formulate a plan of reorganization providing for distributions to creditors; and (iii) prepare a disclosure statement. The Debtors assert that there can be no inference in these cases that they are seeking extensions of their Exclusivity Period and Solicitation Period as a negotiating tactic or as a means of maintaining leverage over any group of creditors whose interests may be harmed by such an extension. The requested extension is sought solely to provide adequate time to develop and implement necessary steps required for plan formulation with support from the DOH, the Committee and certain of their secured creditors. The Debtors further assert that they are in the best position to lead the formulation of a confirmable chapter 11 plan that will provide for, among other things, orderly distributions to creditors. Allowing the Debtors' Exclusivity Period and Solicitation Period to terminate at this point would defeat one of the primary purposes of section 1121 of the Bankruptcy Code, which is the development of a consensual chapter 11 plan. Counsel for the Debtors: Janice B. Grubin, Esq. Ilan Markus, Esq. Barclay Damon LLP Barclay Damon Tower 1270 Avenue of the Americas, Suite 2310 New York, NY 10020 Telephone: (315) 413-7112 Email: jgrubin@barclaydamon.com About North Star Health Alliance The North Star Health Alliance is a collaborative system of healthcare provider organizations in Northern New York, committed to elevating community health and well-being. Members of the NSHA include Carthage Area Hospital, Claxton-Hepburn Medical Center, Claxton-Hepburn Medical Campus (Claxton Campus), North Country Orthopaedic Group, and Meadowbrook Terrace assisted Living Facility. By working together, it aims to enhance accessibility and affordability of care close to home, deliver exceptional medical services, and strengthen the local health infrastructure. The North Star Health Alliance sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D.N.Y. Case No. 26-60099) on February 10, 2026. In its petition, the Debtor reported between $500,000 and $1 million in both assets and liabilities. Honorable Bankruptcy Judge Wendy A. Kinsella handles the case. The Debtor is represented by Janice Grubin, Esq., and Jeffrey A. Dove, Esq., at Barclay Damon, LLP. NV FREIGHT: Seeks to Hire Modestas Law Offices as General Counsel ----------------------------------------------------------------- NV Freight, Inc. seeks approval from the U.S. Bankruptcy Court for the Northern District of Illinois to employ Modestas Law Offices, PC as counsel. The firm will render these services: (a) negotiate with creditors; (b) prepare a plan and financial statements; (c) examine and resolve claims filed against the estate; (d) prepare pleadings filed in the case; (e) interact with the trustee in this case; (f) attend court hearings; and (g) represent the Debtor in matters before the Court. Saulius Modestas, Esq., the primary attorney in this representation, will be paid at his hourly rate of $575. Mr. Modestas disclosed in a court filing that his firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Saulius Modestas, Esq. Modestas Law Offices, PC 401 S. Frontage Road, Ste. C Burr Ridge, IL 60527 Telephone: (312) 251-4460 About NV Freight Inc. NV Freight, Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 26-06189) on April 8, 2026, with $1 million to $10 million in both assets and liabilities. Judge Nancy A. Peterman presides over the case. Saulius Modestas, Esq., at Modestas Law Offices, PC represents the Debtor as counsel. O'BRIEN ENERGY: Gets Interim OK to Use Cash Collateral ------------------------------------------------------ O'Brien Energy Resources Corporation received interim approval from the U.S. Bankruptcy Court for the District of New Hampshire to use cash collateral. Under the interim order, the Debtor is authorized to use cash collateral in accordance with its approved 13-week budget, which projects total operational expenses of $1,683,998. The interim order limits the Debtor's use of cash collateral to no more than 125% of the total expenditures authorized under the budget. The Debtor's authority to access its cash collateral remains in effect until a final hearing on July 1. As adequate protection, pre-petition lienholders including Newburyport Five Cents Savings Bank and the U.S. Small Business Administration. will be granted replacement liens on substantially all post-petition assets of the Debtor, excluding proceeds from avoidance actions. In addition, Newburyport is entitled to receive monthly cash payments of $20,050.57. The order is available at http://bankrupt.com/misc/OBrienEnergy_ICCOrder.pdf A final hearing is scheduled for July 1, with objections due by June 26. O'Brien Energy Resources has 12 pre-petition lienholders asserting claims totaling millions of dollars. Because it is incorporated in Colorado, the Debtor asserts that UCC financing statements must be filed in Colorado to properly perfect a security interest in its cash collateral. Based on this legal standard, the Debtor challenges the perfected status of nearly all its lenders including Newburyport and the SBA. Newburyport holds the largest claim of $3,455,240 across four separate loans and has properly filed UCC financing statements in Colorado, establishing a perfected interest. Meanwhile, the SBA, which holds claims totaling $1,050,941 across two EIDL loans, filed a financing statement in Colorado for the second loan but only in New Hampshire for the first. The remaining 10 creditors include GALT Funding, EN OD Capital, Fenix Funding, Prosperity Funding Group, SQ Advance, Mynt Advance, Oakwood Business Funding, Nitro Advance, Eastern Bank, and Sparrow Advance hold combined claims exceeding $1.5 million. While some filed financing statements in New Hampshire, none recorded UCC filings in Colorado. Consequently, the Debtor asserts these creditors lack a properly perfected security interest in the cash collateral, reserving all rights to challenge their validity and valuation. About O'Brien Energy Resources Corp. O'Brien Energy Resources Corporation, a Colorado corporation, is a privately held independent oil and natural gas exploration and production company focused on conventional drilling, operating wells and fields across Colorado, Nebraska, Wyoming, Oklahoma, Kansas, Texas, and Louisiana. The company, which has been in business since 1990 and is headquartered in Portsmouth, New Hampshire, develops new and existing leaseholds through operated interests and joint ventures with other energy companies and partners. O'Brien filed voluntary petition for Chapter 11 protection (Bankr. D.N.H. Case No. 26-10092) on Jan. 30, 2026, listing $50 million to $100 million in assets and $10 million to $50 million in liabilities. John J. Forma, as director, signed the petition. The Debtor tapped William J. Amann, Esq., at Amann Burnett, PLLC and Kellie W. Fisher, Esq., at Drummond Woodsum as legal counsel; and Jason Mills of BCM Advisory Group, LLC as chief restructuring officer. The U.S. Trustee for Region 1 appointed an official committee to represent unsecured creditors in the Debtor's Chapter 11 case. The committee is represented by Bernstein, Shur, Sawyer & Nelson, P.A. OCUGEN INC: Ramesh Ramachandran Resigns as Chief Accounting Officer ------------------------------------------------------------------- Ocugen, Inc. announced in a regulatory filing that Ramesh Ramachandran, CPA, MBA, CMA, resigned as the Company's Chief Accounting Officer. Following the resignation of Mr. Ramachandran, who was designated as the Company's principal accounting officer prior to his resignation, on June 3, 2026, Rita Johnson-Greene, MBA, the Company's Chief Financial Officer, was appointed as the principal accounting officer. About Ms. Johnson-Greene Prior to joining the Company, Ms. Johnson-Greene was Chief Operating Officer of Alliance for Regenerative Medicine from April 2023 to January 2026 and Vice President of Sales and Qualified Treatment Center Engagement for bluebird bio from May 2021 to April 2023. She previously held numerous roles at Spark Therapeutics, Inc. from November 2016 through May 2021 and at AstraZeneca from January 2007 to November 2016. She started her career at Accenture Strategy as a Consultant, focused on pharmaceutical ventures. She is currently a member of the board of directors of GirlTrek, which she has served on since July 2016. She also joined the Drexel University Biomed Dean's Executive Advisory Council in May 2024 and serves as a guest lecturer for the bio-medical graduate students. Ms. Johnson-Greene received her BA in Electrical Engineering from Drexel University and her MBA in Finance from the Wharton School of the University of Pennsylvania. Employment Agreement with Ms. Johnson-Greene The Company entered into an employment agreement with her pursuant to which the Company has agreed to pay Ms. Johnson-Greene an initial annual base salary of $440,000, payable in accordance with the Company's regular payroll practices. Ms. Johnson-Greene is also eligible to earn an initial annual target bonus of up to 45% of her base salary, subject to performance criteria determined by the Company's Compensation Committee of the Board of Directors and Chief Executive Officer, with the final amount awarded at the sole discretion of the Company's Compensation Committee. In addition, Ms. Johnson-Greene received a one-time sign-on bonus of $90,000, which is subject to full repayment if she leaves the Company before the one-year anniversary of her start date. Ms. Johnson-Greene is eligible to participate in the Company's benefit plans, programs and arrangements that may exist from time to time on the same terms that apply generally to other similarly situated employees. Pursuant to the Employment Agreement, in the event Ms. Johnson-Greene is terminated by the Company without "cause" or by Ms. Johnson-Greene for "good reason" (as defined in the Employment Agreement), subject to Ms. Johnson-Greene's execution and non-revocation of a release of claims in favor of the Company and its affiliates, Ms. Johnson-Greene is eligible to receive: (i) base salary continuation for 12 months following her termination date and (ii) if she elects COBRA continuation coverage, payment of the employer portion of her COBRA premiums for applicable health or dental insurance coverage until the earliest of 12 months following her termination or the date that she becomes eligible for health insurance coverage under another employer's or spouse's employer health plan. In addition, in the event that Ms. Johnson-Greene's employment is terminated by the Company without cause or by Ms. Johnson-Greene for good reason within three months prior to or 12 months after a "change in control" (as defined in the Employment Agreement), subject to Ms. Johnson-Greene's execution and non-revocation of a release of claims in favor of the Company and its affiliates, Ms. Johnson-Greene is also eligible to receive: (i) an additional payment equal to 75% of her then-current target annual bonus, payable in a lump sum, and (ii) full acceleration of all unvested restricted stock, stock options, and other equity incentive awards held by Ms. Johnson-Greene. Pursuant to the Employment Agreement, the Board approved the grant of an option to purchase 750,000 shares of the Company's common stock and 500,000 restricted stock units pursuant to the Company's 2019 Equity Incentive Plan to Ms. Johnson-Greene. The stock option award will have an exercise price equal to the closing price of the Company's common stock on The Nasdaq Capital Market on the date of grant. The options and RSUs will vest annually on the anniversary of the date of the grant in equal installments over three years, subject to Ms. Johnson-Greene's continuous service. There are no arrangements or understandings between Ms. Johnson-Greene and any other persons pursuant to which Ms. Johnson-Greene was appointed as principal accounting officer of the Company. In addition, there are no family relationships between Ms. Johnson-Greene and any director or executive officer of the Company, and there are no transactions involving Ms. Johnson-Greene requiring disclosure under Item 404(a) of Regulation S-K. About Ocugen Inc. Malvern, Pa.-based Ocugen, Inc. is a biotechnology Company focused on discovering, developing, and commercializing novel gene and cell therapies, biologics, and vaccines that improve health and offer hope for patients across the globe. The Company's technology pipeline includes: Modifier Gene Therapy Platform, Novel Biologic Therapy for Retinal Diseases, Regenerative Medicine Cell Therapy Platform, and Inhaled Mucosal Vaccine Platform. PricewaterhouseCoopers LLP (the Company's independent registered public accounting firm since 2024 and headquartered in Philadelphia, Pennsylvania) included an explanatory paragraph in its audit report attached to the Annual Report on Form 10-K for the fiscal year ended December 31, 2025, expressing substantial doubt about the Company's ability to continue as a going concern. The auditor cited that the Company has incurred recurring net losses since inception that raise the doubt of its ability to continue as a going concern. As of December 31, 2025, the Company had $43.5 million in total assets, $55.7 million in total liabilities, and $12.2 million in total stockholders' deficit. ODYSSEY MARINE: Key Proposals OK'd at 2026 Annual Meeting --------------------------------------------------------- Odyssey Marine Exploration, Inc. held its Annual Meeting of Stockholders for the purpose of considering and acting upon the following matters: * to elect five directors of the Company to serve until the next Annual Meeting of Stockholders and until their successors have been duly elected and qualified; * to ratify the appointment of Grant Thornton LLP as our independent registered certified public accounting firm for the fiscal year ending December 31, 2026; * to amend the Company's articles of incorporation to implement an increase in the number of shares of authorized common stock from 75,000,000 to 82,000,000; * to amend the Company's 2019 Stock Incentive Plan to increase the number of shares authorized for issuance under the plan by 2,000,000 shares; * to approve a reverse stock split of the Company's common stock at a ratio in the range from 1-for-20 to 1-for-25; * to obtain non-binding advisory approval of the compensation of our named executive officers; and * to transact such other business as may properly come before the meeting and at any adjournments or postponements thereof. No other business came before the meeting. Voting Results Election Proposal With respect to the Election Proposal, the five individuals named were elected to serve as directors in accordance with the following vote: 1. Mark D. Gordon * For: 22,081,067 * Withheld: 561,139 2. Mark B. Justh * For: 21,787,427 * Withheld: 854,779 3. Larissa T. Pommeraud * For: 22,011,589 * Withheld: 630,617 4. Jon D. Sawyer * For: 21,979,092 * Withheld: 663,114 5. Todd E. Siegel * For: 21,972,228 * Withheld: 669,978 Ratification Proposal With respect to the Ratification Proposal, the stockholders ratified the appointment of Grant Thornton LLP as the Company's independent registered public accounting firm. Results of the vote were as follows: * For: 21,972,228 * Against: 669,978 * Abstain: 383,495 Articles Amendment Proposal With respect to the Authorized Capitalization Proposal, the proposal passed with an affirmative vote of a majority of the Company's voting power outstanding. The results of the vote were as follows: * For: 31,871,707 * Against: 3,514,241 * Abstain: 447,997 Plan Proposal With respect to the Plan Proposal, the results of the vote were as follows: * For: 20,934,966 * Against: 1,558,840 * Abstain: 148,400 Reverse Stock Split Proposal With respect to the Reverse Split Proposal, the proposal passed with an affirmative vote of a majority of the Company's voting power outstanding. The results of the vote were as follows: * For: 31,683,294 * Against: 3,685,661 * Abstain: 464,990 Compensation Proposal With respect to the Compensation Proposal, the stockholders approved, on an advisory basis, the compensation of the Company's named executive officers. The results of the vote were as follows: * For: 21,172,628 * Against: 1,024,128 * Abstain: 445,450 Broker Non-Votes There were 13,191,739 broker non-votes with respect to the Election Proposal, the Plan Proposal and the Compensation Proposal. There were zero broker non-votes with respect to the Authorized Capitalization Proposal and Reverse Stock Split Proposal. Broker non-votes were not relevant to the Ratification Proposal. About Odyssey Marine Odyssey Marine Exploration, Inc. and its subsidiaries are engaged in deep-ocean exploration. Their innovative techniques are currently applied to mineral exploration and other marine survey and contracted services. The corporate headquarters are in Tampa, Florida. Tampa, Florida-based Grant Thornton LLP, the Company's auditor since 2023, issued a "going concern" qualification in its report dated March 31, 2026, attached to the Company's Annual Report on Form 10-K for the year ended December 31, 2025, citing that the Company incurred a net loss of $48.5 million during the year ended December 31, 2025, and as of that date, the Company's current liabilities exceeded its current assets by $7.3 million, and its total liabilities exceeded its total assets by $75.5 million. These conditions, along with other matters, raise substantial doubt about the Company's ability to continue as a going concern. As of March 31, 2026, the Company had $13.4 million in total assets, $84.2 million in total liabilities, and $70.8 million in total stockholders' deficit. ONE SOURCE DIRECT: Initiates Chapter 11 Bankruptcy in California ---------------------------------------------------------------- On June 10, 2026, One Source Direct LLC filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Central District of California. According to court filings, the Debtor reports between $1 million and $10 million in debt owed to approximately 1–49 creditors. A meeting of creditors under Section 341(a) to be held on July 6, 2026 at 01:30 PM at UST-LA2, TELEPHONIC MEETING. CONFERENCE LINE:1-888-330-1716, PARTICIPANT CODE:8009991. About One Source Direct LLC One Source Direct LLC is a business services company that provides direct marketing, fulfillment, distribution, and related operational support solutions for commercial clients. One Source Direct LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-15826) on June 10, 2026. In its petition, the Debtor reported estimated assets of $1 million–$10 million and estimated liabilities of $1 million–$10 million. Honorable Bankruptcy Judge Neil W. Bason handles the case. The Debtor is represented by Marc A. Goldbach, Esq. of Goldbach Law Group. OPTIMUM COMMUNICATIONS: Patrick Drahi Updates Beneficial Ownership ------------------------------------------------------------------ Patrick Drahi disclosed in a Schedule 13G (Amendment No. 6) filed with the U.S. Securities and Exchange Commission that as of May 29, 2026, he beneficially owns the following shares of Optimum Communications, Inc.'s Class A Common Stock, $0.01 par value per share and Class B Common Stock, $0.01 par value per share: A. Class A Common Stock -- 111,599,888 shares, representing 27.6% of the class, calculated based upon: (i) 293,263,749 shares of Class A Common Stock outstanding as of March 31, 2026, as set forth in the Company's Quarterly Report on Form 10-Q filed with the SEC on May 7, 2026, plus (ii) 108,731,066 shares of Class A Common Stock underlying the shares of Class B Common Stock deemed to be held by Patrick Drahi, plus (iii) 2,868,822 shares of Class A Common Stock issuable upon exercise of presently exercisable options deemed to be held by Patrick Drahi. B. Class B Common Stock -- 108,731,066 shares, representing 99.9% of the class, calculated based upon: (i) 183,019,308 shares of Class B Common Stock outstanding as of March 31, 2026, as set forth in the Company's Quarterly Report on Form 10-Q filed with the SEC on May 7, 2026, minus (ii) 74,153,348 shares of Class B Common Stock exchanged with a subsidiary of the Company for preferred units in such subsidiary on May 29, 2026. Includes: (i) 108,731,066 shares of Class A Common Stock issuable upon conversion of 108,731,066 shares of Class B Common Stock held by Next Alt S.a r.l. Next Alt is a Luxembourg Societe a Responsabilite Limitee that is controlled by Patrick Drahi; and (ii) 2,868,822 shares of Class A Common Stock issuable upon exercise of presently exercisable options to purchase Class A Common Stock held by UpperNext S.C.S.p., a wholly controlled personal holding company of Patrick Drahi. Each share of Class B Common Stock is convertible at any time upon written notice of the holder into one share of Class A Common Stock. Mr. Drahi is a director of the Company, and Next Alt is a party to a stockholders agreement with the Company pursuant to which it has certain rights to appoint directors of the Company. Patrick Drahi may be reached through: Armelle Koelf, Attorney-in-fact for Patrick Drahi 14 rue Robert Stumper Grand Duchy of Luxembourg Luxembourg L 2557 A full-text copy of Patrick Drahi's SEC report is available at: https://tinyurl.com/yyeuey8n About Optimum Communications Optimum Communications, Inc. (NYSE: OPTU) is one of the largest broadband communications and video services providers in the United States, delivering broadband, video, mobile, proprietary content and advertising services to approximately 4.3 million residential and business customers across 21 states through its Optimum brand. It operates Optimum Media, an advanced advertising and data business, which provides audience-based, multiscreen advertising solutions to local, regional and national businesses and advertising clients. It also operates News 12, which is focused on delivering best-in-class hyperlocal news content. Based on the Company's Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2026, because the Company does not currently have committed financing or cash and cash equivalents combined with projected future cash flows sufficient to satisfy its debt maturities arising within the next 12 months, substantial doubt exists about the Company's ability to continue as a going concern within one year after the date these consolidated financial statements are issued. While management is pursuing efforts to refinance or restructure the Company's debt, or to raise additional capital sufficient to satisfy these debt maturities, there is no assurance these efforts will be successful. As of March 31, 2026, the Company had $27.9 billion in total assets, $33 billion in total liabilities, and $5.2 million in total stockholders' deficiency. PERFORMANCE CONSULTING: Taps Lefkovitz & Lefkovitz as Legal Counsel ------------------------------------------------------------------- Performance Consulting, LLC seeks approval from the U.S. Bankruptcy Court for the Middle District of Tennessee to employ Lefkovitz & Lefkovitz, PLLC as counsel. The firm's services include: (a) advise the Debtor as to its rights, duties, and powers; (b) prepare and file statements and schedules, plans, and other documents and pleadings necessary to be filed by the Debtor in this proceeding; and (c) represent the Debtor at all hearings, meetings of creditors, conferences, trials, and any other proceedings in the main bankruptcy case before the United States Bankruptcy Court for the Middle District of Tennessee. The firm's counsel and staff will be paid at these hourly rates: Attorneys $550 Paralegals $200 In addition, the firm will seek reimbursement for expenses incurred. The firm received a total retainer of $48,262, plus $1,738 in court filing fees from the Debtor. Jay Lefkovitz, Esq., an attorney at Lefkovitz & Lefkovitz, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Jay R. Lefkovitz, Esq. Lefkovitz & Lefkovitz, PLLC 908 Harpeth Valley Place Nashville, TN 37221 Telephone: (615) 256-8300 Facsimile: (615) 255-4516 Email: jlefkovitz@lefkovitz.com About Performance Consulting LLC Performance Consulting, LLC, doing business as MainStream Heating & Cooling, is a family-owned heating and cooling company based in Clarksville, Tennessee. Founded in 1995, the company provides residential and commercial HVAC services including heating, air conditioning, duct cleaning, furnace services, geothermal installation, radiant floor heating, indoor air quality, refrigeration service, and equipment repairs and installations. It also offers HVAC-related products such as humidifiers, mini split systems, packaged systems, split systems, thermostats, and home safety products. The company serves Clarksville, Montgomery County, surrounding areas in Tennessee, and Oak Grove, Kentucky. Performance Consulting sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Tenn. Case No. 26-02570) on May 29, 2026. In the petition signed by Daryl Pater, chief manager, the Debtor disclosed $541,402 in total assets and $9,880,980 in total liabilities. Judge Charles M. Walker oversees the case. Jay R. Lefkovitz, Esq., at Lefkovitz & Lefkovitz, PLLC represents the Debtor as counsel. PHARMA-NATURAL INC: Hires Joel M. Aresty as Bankruptcy Counsel -------------------------------------------------------------- Pharma-Natural Inc. seeks approval from the U.S. Bankruptcy Court for the Southern District of Florida to employ Joel M. Aresty, PA as counsel. The firm will render these services: (a) give advice to the Debtor with respect to its powers and duties as a debtor-in-possession and the continued management of its business operations; (b) advise the Debtor with respect to its responsibilities in complying with the U.S. Trustee's Operating Guidelines and Reporting Requirements and with the rules of the court; (c) prepare legal documents necessary in the administration of the case; (d) protect the interest of the Debtor in all matters pending before the court; (e) represent the Debtor in negotiation with its creditors in the preparation of a plan. Joel Aresty, Esq., the main attorney in this representation, will be paid at his hourly rate of $500, plus expenses. The firm received a prepetition retainer of $10,000 from the Debtor. Mr. Aresty disclosed in a court filing that his firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Joel M. Aresty, Esq. Joel M. Aresty, PA 309 1st Ave S. Tierra Verde, FL 33715 Telephone: (305) 904-1903 Facsimile: (800) 899-1870 E-mail: Aresty@Mac.com About Pharma-Natural Inc. Pharma-Natural Inc. is a Miami Lakes, Florida-based manufacturer of nutraceutical and over-the-counter body-management products. Founded in 2002, the company produces Pharma Natural-branded products and provides private-label and white-label manufacturing programs. Its operations include product manufacturing, packaging, quality control and testing, formulation assessment, raw-material sourcing, warehousing, and shipping logistics for dietary supplement and nutrition-related products. Pharma-Natural filed a petition for Chapter 11 protection (Bankr. S.D. Fla. Case No. 26-16578) on May 20, 2026. In the petition signed by Carolina Ferreiro, president, the Debtor disclosed up to $50,000 in assets and up to $10 million in liabilities. Judge Corali Lopez-Castro oversees the case. The Debtor tapped Joel M. Aresty, PA as counsel. PLANET FINANCIAL: Moody's Ups Rating on Senior Unsecured Debt to B3 ------------------------------------------------------------------- Moody's Ratings has upgraded Planet Financial Group, LLC's (PFG) long-term backed senior unsecured rating to B3 from Caa1. Moody's have affirmed PFG's corporate family rating of B2. PFG is the parent company of Planet Home Lending, LLC (Planet Home). Moody's have also affirmed Planet Home's senior secured first-lien bank credit facility rating of B1. PFG's and Planet Home's outlooks are stable. RATINGS RATIONALE Moody's have upgraded PFG's long-term senior unsecured rating to B3 from Caa1 to reflect the structural features of the company's secured funding arrangements backed by mortgage servicing rights (MSR). These arrangements rank senior to the company's senior unsecured obligations and benefit from conservative advance rates that provide meaningful overcollateralization, thereby reducing loss severity for secured creditors and increasing the availability of unencumbered assets to unsecured creditors. Furthermore, PFG has implemented an interest rate hedging framework to mitigate earnings volatility and limits potential MSR write-downs. Hence in a default scenario, Moody's expects improved recovery prospects for unsecured creditors. The affirmation of PFG's B2 CFR reflects the company's improving profitability and its growing franchise in the US residential mortgage market. PFG was the 19th largest owned mortgage servicing right servicer and the fourth largest correspondent originator in 2025. PFG's profitability, as measured by net income to average managed assets, was solid at 5.0% in the first three months (annualized) of 2026, an improvement from 2.0% for the same period last year. Earnings have been supported by the company's growing MSR portfolio, active hedging strategy, and higher correspondent seller base. Moody's expects that total mortgage originations will modestly increase in 2026 as mortgage rates, absent of geopolitical tension-driven volatility, start to decline, and PFG's profitability will benefit from its strengthened franchise. A key credit challenge for PFG is its low capitalization, as measured by tangible common equity to adjusted tangible managed assets (excluding Government National Mortgage Association [GNMA] delinquent loans and MSRs where the economic interest in the MSRs has been sold to investors) of 9.3% as of March 31, 2026, far below the median of rated residential mortgage companies. The low capitalization is driven by continued debt-financed acquisitions of MSRs and higher seasonal usage of warehouse lines to fund mortgage originations. PFG remains highly reliant on secured financing arrangements, which encumber its balance sheet and constrain its liquidity. The B1 senior secured bank credit facility rating is one notch higher than the B2 CFR, reflecting the senior secured facility's first-lien priority interest in the company's MSRs assets. The stable outlook reflects Moody's expectations that the company will maintain its capitalization as well as stable profitability over the next 12-18 months. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS PFG's ratings could be upgraded if the company materially improves its capitalization, such as a sustained increase in its tangible common equity to adjusted tangible managed assets to 17.5% or higher; reduces its reliance on secured MSR facilities; and sustains profitability with net income to average managed assets of more than 2.5%. PFG's ratings could be downgraded if the company's capitalization deteriorates, or through-the-cycle profitability declines and remains below 1.0%. The ratings could also be downgraded if the company's liquidity position deteriorates materially. The principal methodology used in these ratings was Finance Companies published in July 2024. PFG's "Assigned Standalone Assessment" adjusted score of b2 is set two notches below the "Financial Profile Score" score of Ba3 to reflect the company's weak capitalization and higher-than-peer concentration in MSRs. PLEASANT HEIGHTS: Mark Politan Named Subchapter V Trustee --------------------------------------------------------- The U.S. Trustee for Regions 3 and 9 appointed Mark Politan, Esq., at Politan Law, LLC, as Subchapter V trustee for Pleasant Heights, Inc. Mr. Politan will be paid an hourly fee of $475 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Politan declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Mark J. Politan, Esq. Politan Law, LLC 88 East Main Street #502 Mendham, NJ 07945 Cell: (973) 768-6072 mpolitan@politanlaw.com About Pleasant Heights Inc. Pleasant Heights, Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. N.J. Case No. 26-16246) on June 2, 2026, with $500,001 to $1 million in assets and liabilities. Judge Stacey L. Meisel presides over the case. Scott J. Goldstein, Esq. at the Law Offices Of Wenarsky And Goldstein, LLC represents the Debtor as legal counsel. POPOVICH ENTERPRISES: Patricia Fugee Named Subchapter V Trustee --------------------------------------------------------------- The U.S. Trustee for Regions 3 and 9 appointed Patricia Fugee of FisherBroyles, LLP as Subchapter V trustee for Popovich Enterprises, LLC. Ms. Fugee will be paid an hourly fee of $365 for her services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Ms. Fugee declared that she is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Patricia B. Fugee FisherBroyles, LLP 27100 Oakmead Drive #306 Perrysburg, OH 43551 Phone: (419) 874-6859 Email: Patricia.Fugee@FisherBroyles.com About Popovich Enterprises LLC Popovich Enterprises, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ohio Case No. 26-60830) on June 2, 2026, with $50,001 to $100,000 in assets and $500,001 to $1 million in liabilities. Judge Tiiara NA Patton presides over the case. Steven Heimberger, Esq., at Roderick Linton Belfance, LLP represents the Debtor as legal counsel. PRO CARPENTRY: Claims to be Paid from Litigation & Sale Proceeds ---------------------------------------------------------------- Pro Carpentry, LLC filed with the U.S. Bankruptcy Court for the Eastern District of Michigan a Subchapter V Plan of Liquidation dated June 1, 2026. The Debtor was incorporated on March 27, 2009, under the laws of the State of Michigan. The Debtor's owners are Adriana McGee (51%) and Dave McGee (49%) (together, the "McGees"). The vast majority of the work performed by Debtor was rough framing on residential projects. In addition, the Debtor acted as the general contractor for a handful of residential building projects. The Debtor ultimately ceased operating at the end of 2025 for two primary reasons. First, the Debtor had completed and collected all amounts owed on two large apartment projects referred to as the Berkshire Apartments and Barrington Apartments, and the Debtor was wrapping up various other small residential contracts. Second, the Debtor was besieged with litigation that started in 2021 and ramped up significantly in 2025, causing the Debtor to incur hundreds of thousands of dollars in legal expenses and attorney's fees. Prior to the Petition Date, the Debtor retained The Law Offices of Andrew J. Bean, P.C. ("Bean PC") to file a lawsuit against O'Reilly Rancilio for legal malpractice. The Debtor believes that it is entitled to a damage award against O'Reilly Rancilio for the total amount of the Sheffler Judgment ($329,956.57), plus its fees and costs, including attorney's fees (the "O'Reilly Claim"). The primary purpose of this bankruptcy filing is to provide the Debtor with the breathing room necessary to pursue the O'Reilly Claim and distribute the proceeds to creditors. Class II shall consist of Unsecured Creditors. The Debtor estimates that the total of all Allowed Unsecured Claims will equal approximately $636,580.57 ($329,956.57 for the Sheffler Judgment, $125,124.64for the McGee's Allowed Unsecured Claim, and $175,000 for the Pro Home Builder's LLC's Allowed Unsecured Claim) (the "Estimated Claim Pool"). This amount does not include the claims set forth in the Kierpaul Litigation, Luvene Litigation or Taylor Parks Litigation which the Debtor estimates at zero. The Debtor shall distribute the Net Litigation Proceeds to Holders of Allowed Unsecured Claims on a pro rata basis. This Class is Impaired. Class III shall consist of Allowed Interests. The Interests of the Debtor are wholly owned by Adriana and David McGee. In the event all Allowed Claims of are paid in full, the McGees shall retain their Interests in the Debtor. In the event the O'Reilly Proceeds are fully distributed and all Allowed Claim are not paid in full, the interests of the McGees shall be cancelled. The Debtor reasonably believes that the Plan will be funded with the following (i) proceeds from the sale of the Dodge Ram Pro and other miscellaneous equipment and (ii) proceeds of the O'Reilly Litigation. The Debtor does not anticipate that there will be any recovery on the Chapter 5 Causes of Action. The Debtor's Dodge Ram Pro will be sold to David McGee in exchange for a one-time payment of $23,680. The Debtor will list all of its other equipment and physical assets for sale on a publicly available website and shall be authorized to sell such equipment without further order of the Court so long as such sale is to a third party who is not an Insider of the Debtor or the McGees. The net amount received from the Debtor as a result of the sale of the Dodge Ram Pro and other miscellaneous equipment shall be referred to as the "Sale Proceeds". A full-text copy of the Liquidating Plan dated June 1, 2026 is available at https://urlcurt.com/u?l=gEuMdi from PacerMonitor.com at no charge. Counsel to the Debtor: Kim K. Hillary, Esq. Schafer And Weiner, PLLC 40950 Woodward Avenue, Suite 100 Bloomfield Hills, MI 48304 Telephone: (248) 540-3340 E-mail: khillary@schaferandweiner.com About Pro Carpentry LLC Pro Carpentry, LLC sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Mich., Southern Division, Case No. 26-42605-mar) on March 11, 2026. At the time of the filing, the Debtor had estimated assets of between $0 and $50,000 and liabilities of between $500,001 and $1 million. Judge Mark A. Randon oversees the case. Schafer and Weiner, PLLC serves as the Debtor's legal counsel. PSI SERVICES: Claims to be Paid from Income ------------------------------------------- PSI Services III, Inc. filed with the U.S. Bankruptcy Court for the District of Columbia a Plan of Reorganization dated June 1, 2026. The Debtor is a nonprofit corporation organized under the laws of the State of New Jersey, founded in 1996, doing business primarily in the District of Columbia. The Debtor takes its name from the Greek letter "PSI," the symbol for psychology. Its predecessor was founded in 1979 by the late Dr. Elizabeth A. Abramowitz and Dr. Evelyn Boyer, licensed psychologists. The Debtor is a not-for-profit corporation committed to quality health and human services for children and adults. In 2019, the Debtor sought to expand its services by leasing property from Beulah Baptist Church of Deanwood Heights, Washington, D.C., where it would provide services to its clientele, and purchasing numerous parcels of vacant land and dilapidated houses surrounding the church, to build affordable housing. The Debtor borrowed $2,750,000 from Sandy Spring Bank (n/k/a Atlantic Union Bank) to fund those purchases and agreed to pay certain mortgage payments to Beulah as rent payments. The purchase was a failure. The Debtor fell behind on payments to Beulah Baptist Church and Atlantic. This case was filed to stop the eviction, and allow the Debtor time to reorganize its debts under the auspices of the Bankruptcy Code, so that it can carry out its mission of providing care to adults with behavioral disorders and children in the foster care system. The Debtor believes, that, it will have approximately $6,561,798.16 in asserted general unsecured claims, including the bifurcated undersecured claim of Atlantic Union. The Debtor disputes not less than $4,286,738.28 of these amounts. The Debtor's projections show that the Debtor will have projected disposable income of $96,000.00 per year. The final Plan payment to unsecured creditors is expected to be paid on the date that is approximately five years after the Effective Date of the Plan. Class 5 consists of all General Unsecured Claims. Provided that an Allowed Class 5 Claim has not been paid prior to the Effective Date, and except to the extent that a holder of a Class 4 Claim agrees to a different and lesser treatment, each holder of an Allowed Class 5 Claim shall receive from the Debtor, in full and complete settlement, satisfaction and discharge of its Allowed Class 5 Claim, a pro rata portion of the Biannual Payments (each such pro rata share to be paid after Allowed Administrative Claims are satisfied, and payment of the commission incurred by the Trustee, if any). To the extent any Class 5 Claim is deemed to be a Non Dischargeable Claim, it will be paid in full, with interest at the federal judgment rate in effect on the Confirmation Date, in equal Biannual Payments, over a period not to exceed ten years, beginning on the first day of the quarter immediately after the last Biannual Payment is made. Any creditor asserting a NonDischargeable Claim will be required to have filed an adversary proceeding by not later than the Confirmation Date, or have forever waived their right to do so. If the Court determines that any of the Priority Tax Claimants or Class 2 or 3 Claimants require higher payments for any reason, the monthly payment to said Claimants shall increase, and the Biannual Payments paid to Class 5 Claimants shall decrease by the additional amount that is required to be paid to the Priority Tax Claimants or Class 2 or 3 Claimants per six-month period. Class 5 is impaired under this Plan and, therefore, Holders of Class 5 Claims are entitled to vote to accept or reject this Plan. All property of the Estate shall revest in the Debtor on the Effective Date, free and clear of all other liens, claims, interests and encumbrances, except for the liens specifically preserved or created by this Plan. On December 31, 2026; June 30, 2027; December 31, 2027; June 30, 2028; December 31, 2028; and June 30, 2029; the Debtor, or, if this Plan is confirmed pursuant to Section 1191(b) of the Bankruptcy Code, the Trustee (from payments made to the Trustee by the Debtor), shall pay Biannual Payments of $48,000.00 (the "Biannual Payments"). Said Biannual Payments shall first be distributed to holders of Allowed Administrative Claims until such claims are satisfied, and then shall be distributed to holders of General Unsecured Claims, pro rata. If, during the last two full quarters prior to any Biannual Payment, the Debtor's revenue is less than 85% percent of the projected Expected Revenue, then the Debtor may move to modify the amount of that Biannual Payment. If, during the last two full quarters prior to any Biannual Payment, the Debtor's revenue is more than 115% percent of the projected Expected Revenue, then the Trustee may move to modify the amount of that Biannual Payment. A full-text copy of the Plan of Reorganization dated June 1, 2026 is available at https://urlcurt.com/u?l=UXCTWv from PacerMonitor.com at no charge. Counsel to the Debtor: Justin P. Fasano, Esq. McNamee Hosea, PA 6404 Ivy Lane, Suite 820 Greenbelt, MD 20770 Telephone: (301) 441-2420 Email: jfasano@mhlawyers.com About PSI Services III Inc. PSI Services III, Inc., also known as PSI Family Services, provides behavioral health and social services including outpatient mental health treatment, rehabilitation programs, and counseling for individuals and families. The organization also offers foster care, adoption, and family support services delivered under programs funded by federal and state agencies. PSI Services III, Inc. operates community-based health and social service programs primarily in Washington, D.C. and the surrounding Maryland region. PSI Services III sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.D.C. Case No. 26-00097) on Mar. 3, 2026. In the petition signed by Shawn Rubbin, chief advancement officer, the Debtor dislosed up to $10 million in both assets and liabilities. Judge Elizabeth L. Gunn oversees the case. The Debtor tapped Justin P. Fasano, Esq., at McNamee Hosea, PA as counsel. PURSE LADIES: Gets Extension to Use Cash Collateral --------------------------------------------------- The U.S. Bankruptcy Court for the Middle District of Florida, Jacksonville Division, entered a second interim order extending The Purse Ladies Holdings, LLC's authority to use cash collateral. Under the second interim order, the Debtor may use cash collateral for court-authorized expenses including payments to the Subchapter V trustee, and expenses outlined on its operating budget. Any use of cash collateral outside the approved budget or court authorization is prohibited. The authorization remains effective until the next hearing scheduled for July 14. As adequate protection, secured creditors will be granted replacement liens on post-petition cash collateral. These liens carry the same validity, priority, and extent as the creditors' pre-petition liens and are automatically perfected without requiring additional filings or documentation under non-bankruptcy law. The interim order preserves the rights of interested parties, including the U.S. trustee and any future creditors' committee, to challenge the validity, priority, or extent of liens asserted on the cash collateral. Secured creditors also retain the right to seek further protections or restrictions. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/fJvLB from PacerMonitor.com. About The Purse Ladies Holdings LLC The Purse Ladies Holdings, LLC is a Florida-based retail business engaged in the resale of authenticated pre-owned luxury fashion items through physical retail locations and an e-commerce platform. Its operations are concentrated in the luxury resale and consignment retail industry, acquiring inventory from customers and serving discerning buyers in the secondary market for luxury fashion products in the United States. The Purse Ladies Holdings filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. M.D. Fla. Case No. 26-00523) on February 6, 2026, with assets of up to $50,000 and liabilities of between $100 million and $500 million. L. Todd Budgen, Esq., a practicing attorney in Longwood, Fla., serves as Subchapter V trustee for the Debtor. Judge Jacob A. Brown oversees the case. The Debtor tapped Thomas C. Adam, Esq., at Adam Law Group, P.A. as bankruptcy counsel and William G. Haeberle, P.A. as accountant. QUARTZ ACQUIRECO: S&P Alters Outlook to Negative, Affirms 'B' ICR ----------------------------------------------------------------- S&P Global Ratings affirmed its 'B' issuer credit rating, as well as its 'B' issue-level rating on its $1.4 billion first-lien term loan due 2030, and revised its rating outlook to negative from stable. Additionally, S&P assigned a 'B' issue-level rating to the new $5.3 billion incremental first-lien term loan due 2033. S&P does not rate the new revolving credit facility. The negative outlook on Qualtrics reflects S&P's view that the company's starting leverage will be high and cash flow metrics will be weaker for the next 12 months. Its projected deleveraging path will be subject to execution risks on successfully integrating PGF (including targeted synergy realization) and making AI-related investments to drive revenue growth and margin expansion. Qualtrics funded the acquisition of Press Ganey Forsta (PGF) with about $5.4 billion of incremental debt. Initial pro forma S&P Global Ratings-adjusted leverage is 10x-11x, excluding cost savings. While S&P expects leverage will gradually come down over the next 12-24 months, the acquisition introduces execution risks related to synergy realization and integration amid a rapidly evolving software landscape that could prolong elevated leverage and constrained credit metrics. Qualtrics' financial metrics will be weaker for the next 12-18 months, burdened by incremental debt service expenses, as it works through the integration of PGF and executes its targeted synergy plan. S&P anticipates it will navigate a period of heightened financial volatility following its largest acquisition in recent history. To fund the transaction, Qualtrics obtained committed financing led by JPMorgan, which resulted in pro forma S&P Global Ratings-adjusted leverage increasing significantly to 10x-11x. S&P projects S&P Global Ratings-adjusted leverage will improve to the high-7x area and free operating cash flow (FOCF) to debt will trend toward 5% by the end of 2027 and further improve in 2028 and 2029, as Qualtrics realizes targeted synergies. S&P expects S&P Global Ratings-adjusted EBITDA margins will be about mid-20% in 2026 on a pro forma basis, improving to the mid- to high-20% area in 2027. S&P anticipates revenue will continue to grow at a mid-single-digit percent for the next two years. The capital provided below current market cost by the banking group and the pre-existing $1.4 billion term loan offer a cushion for Qualtrics' levered free cash flow generation, despite the high leverage. This could be reset higher when the company addresses its 2030 maturity, if unfavorable capital market conditions for software companies persist amid evolving technological risks. S&P believes Qualtrics will require 2-3 years to fully realize anticipated synergies and stabilize its cash flow profile amid transactional and restructuring costs. In addition, the scale of this integration and cost savings introduces execution risk, as the company must align technology infrastructures, operations, and go-to-market strategies across the combined entity. While Qualtrics has a track record of realizing planned synergies, the scale of this acquisition warrants close monitoring of potential business disruptions. S&P believes the high starting leverage, low opening levered free cash flow for the near-term, and integrational complexities may prolong the time Qualtrics needs to reduce leverage to the mid-7x area. Consequently, the credit profile will remain sensitive to the company's ability to meet synergy targets and manage its heightened debt service obligations without compromising operational stability. The PGF acquisition bolsters Qualtrics' AI-enabled technology platform, particularly through deepened penetration into healthcare. Historically, Qualtrics has operated primarily as a horizontal experience management provider. PGF brings decades of proprietary patient experience survey data, including insights from patient encounters, which enables highly differentiated benchmarking capabilities. S&P anticipates that Qualtrics will combine its AI-enabled technology platform with PGF's healthcare datasets to offer integrated solutions and capture commercial synergies across the combined customer base. This is particularly critical because healthcare experience management is highly regulated and directly impacts provider reimbursements and reputations. By combining separate solutions spanning customer, employee, and omnichannel experience management into one integrated AI platform, Qualtrics can capture a larger share of the healthcare wallet. In addition, we believe the acquisition will strengthen Qualtrics' proprietary data advantage. The integration of PGF's specialized healthcare expertise and longitudinal benchmarking data will likely make Qualtrics' AI-enabled models and workflow recommendations more sophisticated, reinforcing its competitive positioning in a mission-critical sector. Furthermore, Qualtrics' FedRAMP High authorization, healthcare compliance certifications, and domain expertise will likely provide Qualtrics with competitive advantages over potential new entrants in highly regulated verticals. S&P believes the combined entity has adequate financial flexibility to execute. On a pro forma basis, the acquisition is expected to materially expand Qualtrics' scale, with 2026 revenue projected at approximately $2.9 billion compared with roughly $1.9 billion on a stand-alone basis. With about $110 million cash on hand, $325 million remaining availability from its new revolving credit facility, and its expectation of more than $200 million of FOCF over the next 12-18 months, Qualtrics will likely be able to service debt while executing its business plan and integration. However, while S&P has a constructive view of the combined business profile, higher leverage and debt service limit Qualtrics' cushion for execution missteps and the financial flexibility it may need to invest in AI in a rapidly evolving software environment. Qualtrics, which has been investing in AI-related product capabilities since 2022, has seen early signs of successful AI adoption and monetization. AI-enabled features are commanding a 15%-20% price premium with volume-based pricing, and approximately one-third of customers have provisioned for these services. This dual monetization model, combining pricing uplift with volume-led growth, provides a runway for incremental revenue and a cushion against pricing pressure driven by seat-based elements and legacy non-AI features. Large players such as Microsoft, Salesforce, and Google pose a continuous threat by embedding AI-powered insights directly into existing enterprise ecosystems. Furthermore, while the healthcare vertical is more defensive and less exposed to discretionary IT spending, the acquisition increases Qualtrics' concentration in this sector from a low-teens percent to nearly 40% of pro forma revenue. As a result, Qualtrics could be increasingly sensitive to U.S. healthcare reimbursement cycles and regulatory changes. The negative outlook on Qualtrics reflects S&P's view that the company's starting leverage will be high and cash flow metrics will be weaker for the next 12 months. Its projected deleveraging path will be subject to execution risks on successfully integrating PGF, including targeted synergy realization, and investing in AI to drive revenue growth and margin expansion. Any underperformance stemming from increasing market competition or execution missteps during integration of PGF could prolong its period of elevated leverage and weaker free cash flow generation. S&P said, "We could lower our rating on Qualtrics if its performance suffers from missteps related to integrating PGF or increased competitive pressure, such that free cash flow underperforms our expectations and it sustains S&P Global Ratings-adjusted leverage above 7.5x or FOCF to debt below the 5% area. "We could stabilize the rating if Qualtrics is on a stable trajectory to reduce leverage toward 7.5x and improve FCF to debt toward the 5% area." This could happen through: -- Successful integration of PGF with targeted synergy realization; -- Sustained organic revenue growth and EBITDA margin expansion; or -- Debt repayment. QVC GROUP: Seeks Chapter 11 Plan OK Despite Shareholder Objections ------------------------------------------------------------------ Rick Archer of Law360 Bankruptcy Authority reports that a Texas bankruptcy judge heard final arguments from QVC Group, its creditors, and a group of preferred shareholders as the parties battled over confirmation of the retailer's Chapter 11 reorganization plan. QVC and its creditor supporters contended that the plan resulted from extensive negotiations and appropriately allocates value based on creditor priority rules. They argued that shareholders cannot receive a recovery unless all senior claims are satisfied, which they said is not the case here, the report states. Preferred shareholders disagreed, asserting that the company's valuation leaves room for equity participation and that the plan unfairly eliminates their interests. The court is expected to decide whether the restructuring can proceed despite those objections, according to Law360. About QVC Group Inc. QVC Group, Inc., formerly known as Qurate Retail, Inc. -- https://www.qvcgrp.com/ -- owns interests in subsidiaries and other companies that are primarily engaged in the video and online commerce industries. Through its subsidiaries and affiliates, the company operates in North America, Europe and Asia. Its principal businesses and assets include its consolidated subsidiaries QVC, Inc., Cornerstone Brands, Inc., and other cost method investments. QVC Group and several affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 26-90447) on April 16, 2026. In its petition, the Debtor reports more than $1 billion in assets and estimated liabilities of $6.6 billion. The Hon. Bankruptcy Judge Alfredo R. Perez handles the jointly administered cases. The Debtors employed Kirkland & Ellis LLP and Kirkland & Ellis International LLP as co-counsel; Gray Reed, as co-counsel; AlixPartners, LLP, as financial advisor; Evercore Group L.L.C., as investment banker; Kroll Restructuring Administration LLC, as claims and noticing agent; and PricewaterhouseCoopers LLP, as tax advisor. Joele Frank, Wilkinson Brimmer Katcher is serving as strategic communications advisor to QVC Group and QVC, Inc. Kobre & Kim LLP, serves as legal counsel to QVC Group, Inc. under the direction of the Special Committee; Seward & Kissel LLP, as legal counsel to QRI Cornerstone, Inc. under the direction of the Special Committee; Milbank LLP, as legal counsel to Liberty Interactive LLC, under the direction of the disinterested directors, and as legal counsel to Qurate Retail Group, Inc., under the direction of the Special Committee; and Katten Muchin Rosenman LLP, as legal counsel to QVC, Inc., under the direction of the disinterested directors. The Bank of New York Mellon Trust Company, N.A., as trustee under the LINTA Notes Indenture, is represented by Reed Smith LLP, as counsel. The LINTA Noteholder Group is represented by Akin Gump Strauss Hauer & Feld LLP. The QVC Noteholder Group is represented by Davis Polk & Wardwell LLP. The RCF Lender Group, led by JPMorgan Chase Bank, N.A., as administrative agent, is represented by Simpson Thacher & Bartlett LLP. An ad hoc group of beneficial holders to QVC Group, Inc. is represented by Brown Rudnick LLP as counsel. Glenn Agre Bergman & Fuentes LLP, Cleary Gottlieb Steen & Hamilton LLP, and Kane Russell Coleman Logan PC represent certain beneficial holders of the 8.0% Series A Cumulative Redeemable Preferred Stock issued by QVC Group, Inc. RAINMAKER CIDER: Unsecureds to Get Share of Income for 36 Months ---------------------------------------------------------------- Rainmaker Cider LLC d/b/a Locust Cider filed with the U.S. Bankruptcy Court for the Western District of Washington a Plan of Reorganization dated June 1, 2026. The Debtor is a beverage manufacturer headquartered in Gig Harbor, Washington that specializes in crafting bold, innovative alcoholic beverages made from real, high-quality ingredients (the "Business"). The Business operates a taproom located at 3207 57th Street Court, Gig Harbor, Washington 98335 (the "Leased Premises"). As part of this Plan, the Debtor is seeking to assume the lease underlying the Leased Premises. Jason Spears served as the Owner and Managing Member of the Debtor prior to the Petition Date and will continue to serve in the same capacity for the Reorganized Debtor and he will be compensated at his historic rate with 5% yearly increases. At one point, Debtor owned and operated seventeen taprooms across Washington, Texas, and Colorado. A majority of the taprooms opened between 2019-2020, right before the COVID-19 pandemic began. Following the pandemic, the cost of operating taprooms rose faster than the Debtor was able to keep up with. As a result of the lack of working capital, the Debtor was forced to seek relief under Chapter 11, Subchapter V of Title 11 of the United States Code in order to preserve value, stabilize operations, and pursue an orderly restructuring. The Debtor filed a petition under Chapter 11, Subchapter V on March 2, 2026 to prevent its assets from being liquidated, and to preserve and maintain the value of Debtor as an operating entity for the benefit of all creditors, and to continue operating the Business. As of the Petition Date, Debtor's cash amounts were $74,987.90 and accounts receivable were $112,588.051, with no cash equivalents. The term of this plan will be thirty-six months from the Effective Date (the "Term"). The first day of the month that is thirty-six months after the month in which the Effective Date occurs is the "Maturity Date" for the purposes of this Plan. This Plan provides for treatment of unclassified administrative claims, priority tax claims, one class of secured claims, and one class of unsecured claims. Class 2 consists of General Unsecured Creditors. Each holder of an allowed general unsecured claim will be paid a pro rata share with the disposable income of the Debtor available after payment of administrative, secured, and priority claims. This Class is impaired. Class 3 consists of Equity Holders. Equity holders Jason Spears, Adam French, and Patrick Spears will receive no distribution under this Plan but will retain their existing ownership interests in the Debtor, which shall continue in the same percentages and amounts in the Reorganized Debtor following the Effective Date. This Plan will be funded with revenue from the Debtor's operation. During the Term, the Debtor will continue with the operations and anticipates that sufficient net income can be generated from its services to make the payments under this proposed plan. The Debtor's income can be quite variable. For that reason, monthly payments to unsecured creditors are capped on a monthly basis at $4,000 to ensure liquidity. A full-text copy of the Plan of Reorganization dated June 1, 2026 is available at https://urlcurt.com/u?l=dSKmoW from PacerMonitor.com at no charge. Counsel to the Debtor: Steven M. Palmer, Esq. Ryan R. Cole, Esq. CAIRNCROSS & HEMPELMANN, P.S. 524 Second Avenue, Suite 500 Seattle, WA 98104-2323 Telephone: (206) 587-0700 Facsimile: (206) 587-2308 E-mail: spalmer@cairncross.com rcole@cairncross.com About Rainmaker Cider LLC Rainmaker Cider LLC manufactures hard ciders and fruit-forward alcoholic beverages under brands including Locust Cider, Colorado Cider Co., Argus Cidery, Smack Hard Lemonade, and Spiked Jones Hard Craft Soda. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Wash. Case No. 26-40555-MJH) on March 2, 2026. In the petition signed by Jason Spears, owner, the Debtor disclosed up to $10 million in both assets and liabilities. Judge Mary Jo Heston oversees the case. Ryan R. Cole, Esq., at Cairncross & Hempelmann, P.S., represents the Debtor as legal counsel. READY ROOFING: Aaron Cohen Named Subchapter V Trustee ----------------------------------------------------- The Acting U.S. Trustee for Region 21 appointed Aaron Cohen, Esq., a practicing attorney in Jacksonville, Fla., as Subchapter V trustee for Ready Roofing, LLC. Mr. Cohen will be paid an hourly fee of $325 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Cohen declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Aaron R. Cohen, Esq. P.O. Box 4218 Jacksonville, FL 32201 Tel: (904) 389-7277 Email: aaron@arcohenlaw.com About Ready Roofing LLC Ready Roofing, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 26--2480) on June 1, 2026, with $100,001 to $500,000 in assets and $1,000,001 to $10 million in liabilities. Bryan K. Mickler, Esq., at Mickler & Mickler represents the Debtor as legal counsel. REALTY 4: Seeks Chapter 7 Bankruptcy in Arizona ----------------------------------------------- On June 10, 2026, Realty 4 Him, LLC filed for Chapter 7 protection in the U.S. Bankruptcy Court for the District of Arizona. According to court filings, the Debtor reports between $1 million and $10 million in debt owed to approximately 1–49 creditors. Debtor must file Statement of Financial Affairs and Attorney Disclosure Statement by June 24, 2026. About Realty 4 Him, LLC Realty 4 Him, LLC is a real estate company engaged in property ownership, investment, management, and related real estate activities. Realty 4 Him, LLC sought relief under Chapter 7 of the U.S. Bankruptcy Code (Bankr. Case No. 26-05764) on June 10, 2026. In its petition, the Debtor reported estimated assets of $1 million–$10 million and estimated liabilities of $1 million–$10 million. Honorable Bankruptcy Judge Paul Sala handles the case. The Debtor is represented by Philip J. Giles, Esq. of Allen, Jones & Giles, PLC. RENDITIONS LLC: Unsecureds to Get Share of Income for 36 Months --------------------------------------------------------------- Renditions, LLC filed with the U.S. Bankruptcy Court for the Middle District of Georgia a Subchapter V Plan of Reorganization dated June 1, 2026. Amy Christina Wrenn established the Debtor in the State of Georgia on April 18, 2019 for the purchase and operation of a business known as Mary's Tack, Feed & Pet, being a brick and mortar retail business located at 4860 Atlanta Highway, Athens, Georgia 30606. The Debtor has in general been profitable from its inception. However, in April of 2023 there was a fire on the sales floor. After over a year of dealing with the insurance company and repairing the business premises, the Debtor finally made it back into the building. Building the business back took some time, but in the meantime the Debtor fell behind on payments to Oconee State Bank and various accounts payable. Oconee State Bank initiated foreclosure proceedings as to the Debtor's business premises and Mr. and Mrs. Wrenn's residence. In order to manage the collection efforts of various creditors and prevent foreclosure of their properties, on March 2, 2026, the Debtor filed its SubChapter V Chapter 11 Bankruptcy Petition and Mr. and Mrs. Wrenn filed a joint SubChapter V Chapter 11 Bankruptcy Petition. Class 5 consists of General Unsecured Claims. The Debtor believes but does not warrant that attached hereto as Exhibit A is a list of all General Unsecured Claims in the aggregate amount of $200,157.55. If the Plan is confirmed under section 1191(a) of the Bankruptcy Code, the Debtor shall pay to the Class 5 General Unsecured Creditors holding Allowed Claims, in full satisfaction of their respective Allowed Unsecured Claims, a pro rata share of $7,000.00 per calendar month, being the average monthly net disposable income, commencing on the first business day of the first calendar month immediately following the effective date, and continuing on the first business day of each calendar month thereafter until the Debtor has made a total of 36 monthly installment payments. Class 5 is impaired. If the Plan is confirmed under section 1191(b) of the Bankruptcy Code, Class 5 shall be treated the same as if the Plan was confirmed under section 1191(a) of the Bankruptcy Code. The source of funds for the payments pursuant to the Plan is sale of the Commercial Building and Real Estate and further operating revenue of the Debtor. A full-text copy of the Subchapter V Plan dated June 1, 2026 is available at https://urlcurt.com/u?l=TOltZK from PacerMonitor.com at no charge. The firm can be reached at: Paul Reece Marr, Esq. Paul Reece Marr, P.C. 6075 Barfield Road, Suite 213 Sandy Springs, GA 30328 Telephone: (770) 984-2255 Email: paul.marr@marrlegal.com About Renditions LLC Renditions, LLC owns Mary's Tack, Feed & Pet, in Athens, Georgia. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Ga. Case No. 26-30114) on March 2, 2026. In the petition signed by Amy Christina Wrenn, manager, the Debtor disclosed up to $10 million in both assets and liabilities. Paul Reece Marr, Esq., at Paul Reece Marr, P.C., is the Debtor's legal counsel. RITE AID: Trust Clash with McKesson Over Chapter 11 Claims Transfer ------------------------------------------------------------------- Clara Geoghegan of Law360 Bankruptcy Authority reports that a legal battle unfolded in New Jersey bankruptcy court as McKesson Corp. and a trust established under Rite Aid's earlier Chapter 11 plan debated ownership of potential antitrust claims that may be worth substantial sums. Trust representatives argued that the claims were preserved under the confirmed bankruptcy plan and belong to the trust for the benefit of creditors. They maintained that pursuing the claims could generate additional recoveries for parties affected by Rite Aid's restructuring, the report relays. McKesson opposed the request, asserting that the trust lacks the rights it claims and that the antitrust causes of action were not transferred as alleged. The court’s eventual ruling could determine whether the trust can pursue the claims and potentially increase creditor recoveries, according to Law360. 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. RIVER FALL: Unsecured Creditors Will Get 50% of Claims in Plan -------------------------------------------------------------- River Fall 529 LLC submitted a Second Amended Disclosure Statement with respect to Second Amended Plan of Reorganization dated June 2, 2026. The Debtor plans to refinance or sell the Property, but the sale is not contingent upon such sale or refinancing. Distributions to holders of Allowed Claims will be made as soon as practicable following the allowance of the Claim and the Effective Date of the Plan. The Debtor projects that under the Plan all holders of Allowed Secured, Administrative, Priority Claims, and General Unsecured Claims will receive fifty percent of the amount of their Allowed Claims. After payment of Secured, Administrative, Priority Claims, General Unsecured Claims, and payment of, or reservation for, the amounts necessary to administer the Plan, the balance of the proceeds will be distributed to the Debtor. On May 26, 2026, Stage Point filed a Motion for Relief from the Automatic Stay seeking authority to foreclose on the Property. Stage Point alleges, among other things, that the Property's value is likely less than the Debtor's obligations to Stage Point based upon the time the Property has been marketed and a 2023 appraisal of the Property. Stage Point further asserts that, based upon the likely value of the Property, the Property is not necessary for the Debtor's reorganization. Class 3 consists of General Unsecured Claims. The Debtor estimates that the total amount of Class 3 claims is less than $10,000 based upon the schedules of assets and liabilities filed in the case. In addition, there is the claim of Mortgage Works for amounts advanced to the Debtor during its chapter 11 case, which claim is subordinated to the claims of all other creditors and receive a distribution only after all other allowed claims against the Debtor are paid in full. Commencing upon the later of the 30th day following the Effective Date or such date as the Claim becomes an Allowed Claim, in full and complete satisfaction, settlement, release and discharge of the Allowed General Unsecured Claims, the holders of Allowed General Unsecured Claims shall receive shall receive an amount equal to fifty-percent of their Allowed General Unsecured Claims as follows: (i) in Cash, (ii) from the Net Proceeds of the sale of the Property, (iii) in equal quarterly installments for a period of eight quarters following the Effective Date, (iv) upon such terms as is agreed to in writing between the Debtor and the holder of an Allowed Class 3 Claim, or (v) upon such terms as may be determined by the Bankruptcy Court. Allowed Class 3 Claims may be impaired and the holder of such Allowed General Unsecured Claims are entitled to vote to accept or reject the Plan. Class 4 consists of Equity Interests. The Debtor retains its equity interests under the Plan and receives the remainder of the Assets, if any, after payment in full of all Allowed classified and unclassified claims in the Debtor's chapter 11 case. The Debtor continues to market the Property for sale or refinance, but the Plan is not contingent upon such sale or refinance. The Debtor's principal, Mr. Sylvan Quallo, will fund the payments due under the Plan. In the event of a sale or refinancing of the Property, Allowed Claims may be prepaid as set forth in the Plan. Confirmation of the Plan shall constitute authorization for the Debtor or the Reorganized Debtor to: (i) effectuate the Plan and to enter into all documents, instruments and agreements reasonably necessary to effectuate the terms of the Plan, and (ii) liquidate any Assets remaining after the Effective Date. The Debtor shall remain in existence as the Reorganized Debtor until dissolved pursuant to the Plan. The Assets shall vest in the Reorganized Debtor on the Effective Date. Except as may be expressly provided in the Plan or a Final Order of the Bankruptcy Court, no Assets shall be deemed abandoned and no defense, set-off, counterclaim or right of recoupment of the Debtor shall be deemed waived, released or compromised. Following the Effective Date of the Plan, the Debtor may sell or refinance the Property to fund payments under the Plan without further order of the Court. A full-text copy of the Second Amended Disclosure Statement dated June 2, 2026 is available at https://urlcurt.com/u?l=dJTsS7 from PacerMonitor.com at no charge. Counsel to the Debtor: Christopher M. Condon, Esq. Bowditch & Dewey, LLP 75 Federal Street Suite 1000 Boston, MA 02110 Telephone: (617) 757-6513 Facsimile: (508) 929-3099 Email: ccondon@bowditch.com About River Fall 529 LLC River Fall 529 LLC is a single-purpose real-estate company that owns the 529 Eastern Avenue property in Fall River, Massachusetts. River Fall 529 LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Mass. Case No. 25-10810) on April 2, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. The Debtor is represented by Christopher M. Condon, Esq. at BOWDITCH & DEWEY LLP. ROBERT BAS LAW: Unsecureds to Get Share of Income for 3 Years ------------------------------------------------------------- Robert Bas Law Office, Corp. filed with the U.S. Bankruptcy Court for the Southern District of Illinois a Fist Subchapter V Plan of Reorganization dated June 1, 2026. The Debtor operates a law firm that specializes in criminal defense work. The firm is comprised of one attorney, Robert Bas, and three non-lawyer support staff employees. Prior to the petition date, Debtor would operate using various lines of credit and loans. Debtor was generally able to service these debts; however, due to certain periods of lower revenue, Debtor eventually found itself unable to service its regular debts and turned to nontraditional merchant cash advance loans to pay its expenses and service its existing debts. These loans created the need for yet more loans, which eventually led to Debtor's bankruptcy filing. The Debtor is now addressing its financial situation as a whole and Debtor felt that a Chapter 11 reorganization was the best business decision for its long-term future. Through this bankruptcy, Debtor hopes to stabilize operations and formulate a plan of reorganization that will maximize recoveries for the benefit of creditors. This Plan provides for ten classes of Secured Claims; one Class of Priority Claims; one Class of Unsecured Claims; and one Class of Allowed Interests. This Plan also provides for the payment of Administrative Expense Claims and Priority Tax Claims. Class 12 consists of General Unsecured Claims. Unsecured Claims are not secured by Estate Property and are not entitled to priority. The holders of Allowed General Unsecured Claims will receive their Pro Rata share of Excess Monthly Income on the first day of the month after Class 1 Claims are paid in full, and quarterly thereafter for three years or the holders of Allowed Class 12 Claims are paid in full, whichever is shorter. General Unsecured Claims in Class 12 are Impaired. Class 13 consists of all Allowed Interests in Debtor. All Class 13 Allowed Interests will be retained on the Effective Date and therefore are unimpaired under the Plan. Class 13 is deemed to have accepted the Plan, and therefore is not entitled to vote. All of Debtor's Excess Monthly Income will be used to fund the Plan. Based upon Debtor's historical income and projected future income, the repayment proposed is reasonable. Additionally, the Debtor is seeking approval of a New Loan Facility line of credit to supplement its obligations under the Plan. A full-text copy of the First Subchapter V Plan dated June 1, 2026 is available at https://urlcurt.com/u?l=2Io0vc from PacerMonitor.com at no charge. Counsel to the Debtor: Robert E. Eggmann, Esq. Nathan R. Wallace, Esq. Carmody MacDonald P.C. 120 South Central Avenue, Suite 1800 St. Louis, MO 63105 Tel: (314) 854-8600 Fax: (314) 854-8660 Email: ree@carmodymacdonald.com nrw@carmodymacdonald.com About Robert Bas Law Office Robert Bas Law Office, Corp., based in Illinois, provides full-service criminal defense representation in both state and federal courts, handling cases ranging from DUI, drug offenses, and driving violations to violent crimes such as aggravated battery, burglary, and murder. Robert Bas Law Office, Corp. filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Ill. Case No. 26-30133) on February 20, 2026, listing $191,416 in assets and $1,437,026 in liabilities. The petition was signed by Robert Bas as president. Judge Mary E Lopinot presides over the case. Robert Eggmann, Esq. at CARMODY MACDONALD P.C. serves as the Debtor's bankruptcy counsel. ROLLING HILLS LANDCO: Seeks Chapter 11 Bankruptcy in New Jersey --------------------------------------------------------------- On June 4, 2026, Rolling Hills Landco LLC filed for Chapter 11 protection in the U.S. Bankruptcy Court for the District of New Jersey. According to court filings, the Debtor reports between $500 million and $1 billion in debt owed to between 50,001 and 100,000 creditors. The Debtors' exclusivity period for filing a Chapter 11 plan ends on October 2, 2026. About Rolling Hills Landco LLC Rolling Hills Landco LLC is a real estate holding and land ownership company engaged in property investment, development, and asset management activities. Rolling Hills Landco LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-16379) on June 4, 2026. In its petition, the Debtor reports estimated assets between $100 million and $500 million and estimated liabilities between $500 million and $1 billion. Honorable Bankruptcy Judge Christine M. Gravelle handles the case. The Debtor is represented by Michael D. Sirota, Esq. of Cole Schotz P.C. RUEZGA HAULING: Seeks Subchapter V Bankruptcy in California ----------------------------------------------------------- On June 5, 2026, Ruezga Hauling, Inc. filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Northern District of California. According to court filings, the Debtor reports between $100,001 and $1,000,000 in debt owed to approximately 1–49 creditors. A meeting of creditors under Section 341(a) to be held on July 7, 2026 at 10:00 AM via UST Teleconference San Jose, Call in number: 1-888-330-1716 Passcode: 5397643. October 5, 2026 is set as deadline for filing Proofs of Claims. About Ruezga Hauling, Inc. Ruezga Hauling, Inc. is a transportation and hauling company that provides trucking, freight, and logistics-related services to commercial and industrial customers. Ruezga Hauling, Inc. sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-50888) on June 5, 2026. In its petition, the Debtor reported estimated assets of $100,001–$1,000,000 and estimated liabilities of $100,001–$1,000,000. Honorable Bankruptcy Judge Stephen L. Johnson handles the case. The Debtor is represented by Arasto Farsad, Esq. of Farsad Law Office, P.C. SAILORMEN INC: Plan Exclusivity Period Extended to Sept. 12 ----------------------------------------------------------- Judge Robert A. Mark of the U.S. Bankruptcy Court for the Southern District of Florida extended Sailormen Inc.'s exclusive periods to file a plan of reorganization and obtain acceptance thereof to Sept. 12 and Nov. 11, 2026, respectively. As shared by Troubled Company Reporter, the Bankruptcy Code does not define "cause" for extending the Exclusive Periods. Thus, in determining whether cause exists, courts have relied on a variety of factors (the "Factors"), each of which may provide sufficient grounds for extending the Exclusive Periods. The Debtor explains that the Factors support a showing of "cause." This is a large case; BMO Bank, N.A., the Debtor's largest senior secured lender, possesses a substantial claim amount of roughly $120 million. 254 proofs of claim, totaling roughly $50 million, have been filed against the Debtor. As to factors two and three, the Debtor is currently evaluating bids and selling its assets pursuant to the sale order (the "Sale Order") the Court entered on March 20, 2026 (each, a "Sale," and collectively, the "Sales"). The results of the Debtor's sale efforts will determine its next steps in crafting a comprehensive chapter 11 plan for BMO and its other creditors, and the Debtor thus needs additional time to prepare adequate information for its plan. As to factors four, five, and six, the Debtor is paying its debts as they come due and has demonstrated reasonable prospects for filing a viable plan through its sale efforts and negotiations with creditors. Seventh, the Debtor has only been in bankruptcy for slightly less than four months. Sailormen Inc. is represented by: Bradley S. Shraiberg, Esq. Samuel W. Hess, Esq. SHRAIBERG PAGE P.A. 2385 NW Executive Center Drive, #300 Boca Raton, FL 33431 Telephone: (561) 443-0800 Facsimile: (561) 998-0047 E-mail: bss@slp.law shess@slp.law About Sailormen Inc. Sailormen Inc. is a leading franchisee of Popeyes Louisiana Kitchen restaurants. Sailormen Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 26-10451) on January 15, 2026. In its petition, the Debtor reports estimated assets between $100 million and $500 million and $342 million in liabilities. Honorable Bankruptcy Judge Robert A. Mark handles the case. The Debtor is represented by Bradley S. Shraiberg, Esq. SAKS GLOBAL: Plan Exclusivity Period Extended to Aug. 11 -------------------------------------------------------- Judge Alfredo R. Perez of the U.S. Bankruptcy Court for the Southern District of Texas extended Saks Global Enterprises LLC and Its Global Debtor Affiliates' exclusive periods to file a plan of reorganization and obtain acceptance thereof to Aug. 11 and Oct. 13, 2026, respectively. In a court filing, application of the relevant factors to the facts of these Chapter 11 Cases demonstrates that the Debtors' requested extension is warranted under the facts and circumstances of these cases: * There is no question that these Chapter 11 Cases are large and extremely complex. These Chapter 11 Cases involve joint administration of 113 Debtor entities. Additionally, the Debtors are seeking approval of two distinct chapter 11 plans on parallel paths, one proposed by the Global Debtors and the other proposed by the SO5 Digital Debtors, to maximize value for the Global Debtors' and SO5 Digital Debtors' distinct creditor pools. Accordingly, the Debtors submit that the size, complexity, and the breadth of financial and legal issues involved in these Chapter 11 Cases weigh in favor of extending the Exclusivity Periods. * Since the Petition Date, the Debtors have made substantial progress in negotiating with their respective stakeholders and administering these Chapter 11 Cases while they continue to operate their businesses or complete an orderly winddown, as applicable. Notwithstanding the Debtors' material developments and substantial progress since the Petition Date, the administration of these Chapter 11 Cases and successful implementation of the Global Debtors' Plan and the SO5 Digital Debtors' Plan, respectively, will require additional time and effort. * Since the Petition Date, the Debtors have actively monitored their liquidity position and have paid their vendors, utility providers, and landlords in the ordinary course of business or as otherwise provided by orders of this Court. * The Debtors are not seeking an extension of the Exclusivity Periods to pressure or prejudice any of their stakeholders. Rather, the Debtors seek to maintain filing exclusivity and solicitation exclusivity to allow time to build further consensus around their chapter 11 plans, and allow creditors an appropriate amount of time, given the complexity of these Chapter 11 Cases, to consider the Debtors' respective disclosure statements and cast their votes consistent with the proposed confirmation timeline. * Considering the resources of the Debtors' estates that have already been expended on commencing solicitation of the Global Debtors' Plan and the SO5 Digital Debtors' Plan, respectively, the filing of a competing plan or plans during this time would force the Debtors to fend off alternative chapter 11 plan proposals instead of focusing their efforts on maximizing the recoveries available to all stakeholders. Accordingly, the Debtors file this motion out of an abundance of caution and request a 90-day extension of each of the Exclusivity Periods to ensure no alternative plan is filed. Co-Counsel to the Global Debtors: Kelli Stephenson Norfleet, Esq. Kenric D. Kattner, Esq. Arsalan Muhammad, Esq. Kourtney P. Lyda, Esq. David Trausch, Esq. HAYNES AND BOONE, LLP 1221 McKinney Street, Suite 4000 Houston, TX 77010 Tel: (713) 547 2000 Fax: (713) 547 2600 Email: kelli.norfleet@haynesboone.com kenric.kattner@haynesboone.com arsalan.muhammad@haynesboone.com kourtney.lyda@haynesboone.com david.trausch@haynesboone.com Co-Counsel to the Global Debtors: Debra M. Sinclair, Esq. Robin Spigel, Esq. Allyson B. Smith, Esq. Betsy L. Feldman, Esq. Jessica D. Graber, Esq. WILLKIE FARR & GALLAGHER LLP 787 Seventh Avenue New York, NY 10019 Tel: (212) 728-8000 Fax: (212) 728-8111 Email: dsinclair@willkie.com rspigel@willkie.com absmith@willkie.com bfeldman@willkie.com jgraber@willkie.com AND Jennifer J. Hardy, Esq. 600 Travis Street Houston, TX 77002 Tel: (713) 510-1766 Fax: (713) 510-1799 Email: jhardy2@willkie.com AND Ryan Blaine Bennett, Esq. 300 North LaSalle Drive Chicago, IL 60654 Tel: (312) 728-9123 Fax: (312) 728-9199 Email: rbennett@willkie.com About Saks Global Saks Global is the largest multi-brand luxury retailer in the world, comprising Saks Fifth Avenue, Neiman Marcus, Bergdorf Goodman, Saks OFF 5TH, Last Call and Horchow. Its retail portfolio includes 70 full-line luxury locations, additional off price locations and five distinct e-commerce experiences. With talented colleagues focused on delivering on our strategic vision, The Art of You, Saks Global is redefining luxury shopping by offering each customer a personalized experience that is unmistakably their own. By leveraging the most comprehensive luxury customer data platform in North America, cutting-edge technology, and strong partnerships with the world's most esteemed brands, Saks Global is shaping the future of luxury retail. Saks Global Properties & Investments includes Saks Fifth Avenue and Neiman Marcus flagship properties and represents nearly 13 million square feet of prime U.S. real estate holdings and investments in luxury markets. On Jan. 13, 2026, and Jan. 14, 2026, Saks Global Enterprises, LLC and 112 affiliated debtors filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code (Bankr. S.D. Texas Lead Case No. 26-90103). The jointly administered cases are pending before the Honorable Alfredo R. Perez. Willkie Farr & Gallagher LLP and Haynes and Boone, LLP are serving as legal counsel, PJT Partners LP is serving as an investment banker, Berkeley Research Group is serving as the financial advisor, and C Street Advisory Group is serving as a strategic communications advisor to the Company. Stretto is the claim agent. Paul, Weiss, Rifkind, Wharton & Garrison LLP is serving as legal counsel, Lazard Freres & Co, LLC is serving as investment banker, FTI Consulting, Inc. is serving as financial advisor, and Kekst and Company, Inc., is serving as a strategic communications advisor to an ad hoc group of debt holders. Hilco Global Professional Services, LLC, is the real property advisor to the Ad Hoc Group. Bank of America, N.A., is the administrative agent and collateral agent under the $1.5 billion asset-based revolving credit facility. U.S. Bank Trust Company, National Association, is the administrative agent and collateral agent under the $2.56 billion SGUS DIP Facility, a term loan facility with new money and roll up components. U.S. Bank is also the agent under the $1.75 billion OpCo DIP Facility, a term loan facility to be used for refinancing existing debt. Barclays Bank, PLC serves as the fronting lender of the SGUS First Out DIP Loans. It is advised by Dentons US LLP. Otterbourg P.C., Morgan, Lewis & Bockius LLP, and Norton Rose Fulbright US LLP serves as counsel to the ABL DIP Agent; M3 Advisory Partners, LP, is the financial advisor to the ABL DIP Agent; and Great American serves as its inventory valuation consultant. Seward & Kissel LLP serves as counsel to the SGUS DIP Agent. On Jan. 27, 2026, the U.S. Trustee for Region 7 appointed an official committee to represent unsecured creditors in the Debtors' Chapter 11 cases. The committee retained Morrison & Foerster LLP as counsel; Cole Schotz, PC as local counsel; Houlihan Lokey Capital, Inc. as investment banker; and AlixPartners, LLP as financial advisor. SAMSON METAL: Gets Court OK to Use Cash Collateral -------------------------------------------------- Samson Metal and Machine, Inc. received approval from the U.S. Bankruptcy Court for the Middle District of Florida, Tampa Division, to use cash collateral. The court authorized the Debtor to use cash collateral to pay the amounts expressly authorized by the court; the expenses set forth in the budget, plus an amount not to exceed 10% for each line item; and additional amounts subject to approval by secured creditors. As adequate protection, Valley Bank and other creditors claiming interests in cash collateral will receive replacement liens on post-petition accounts receivable and cash, with the same extent, validity and priority as their pre-petition liens. A further hearing is set for Aug. 6. A copy of the court's order and the Debtor's budget is available at https://urlcurt.com/u?l=HpFSZ0 from PacerMonitor.com. About Samson Metal and Machine Inc. Samson Metal and Machine, Inc., based in Lakeland, Florida, provides precision machining, metal fabrication, and engineering services, operating a full-service manufacturing facility that produces custom components and integrated equipment systems for industrial applications. Founded in 1973, with origins tracing back to 1947, the company offers CNC and conventional machining, welding, assembly, testing, and installation services, serving sectors including aerospace, power generation, entertainment, and heavy industry. Samson Metal and Machine, Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 26-02801) on April 6, 2026. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. Judge Catherine Peek Mcewen handles the case. The Debtor is represented by Harley E. Riedel, Esq., at Stichter, Riedel, Blain & Postler, P.A. SANTIN AUTO: Trustee Gets OK to Employ Greg T. Murray as Accountant ------------------------------------------------------------------- Eric Terry, the Trustee of Santin Auto and Truck Repair Center, LLC received approval from the U.S. Bankruptcy Court for the Western District of Texas to employ Greg T. Murray, P.L.L.C. as accountant. The firm will advise the Trustee regarding accounting and related matters affecting the Estate, including inspecting and analyzing Debtor's books and records, preparing monthly operating reports. The firm will be paid at these rates: Greg T. Murray $275 to $325 per hour Paraprofessionals $100 per hour In addition, the firm will seek reimbursement for its out-of-pocket expenses. 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: Greg T. Murray Greg T. Murray, P.L.L.C. 1503 Tarton Ln San Antonio, TX 78231 About Santin Auto and Truck Repair Center, LLC Santin Auto and Truck Repair Center LLC provides comprehensive repair and maintenance services for light, medium, and heavy-duty vehicles, including cars, trucks, buses, RVs, and construction equipment. Based in San Antonio, Texas, the company offers in-shop and mobile 24/7 roadside services, specializing in diesel repair, fleet maintenance, engine and transmission work, and heavy equipment repair. Its team of ASE-certified technicians combines over 65 years of experience with modern diagnostic and repair technology to serve San Antonio and surrounding areas. Santin Auto and Truck Repair Center LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Tex. Case No. 26-50372) on February 13, 2026. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. Honorable Bankruptcy Judge Craig A. Gargotta oversees the case. The Debtor is represented by Stephen W. Sather, Esq., at Barron & Newburger, PC. Eric Terry is appointed as trustee in this Chapter 11 case. The trustee tapped Graves Dougherty Hearon & Moody, PC as bankruptcy counsel and Mark Kiehne Law, PLLC as special counsel. SECURITY CHECK: Kathleen DiSanto Named Subchapter V Trustee ----------------------------------------------------------- The Acting U.S. Trustee for Region 21 appointed Kathleen DiSanto, Esq., at Bush Ross, P.A., as Subchapter V trustee for Security Check Me, LLC. Ms. DiSanto will be paid an hourly fee of $400 for her services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Ms. DiSanto declared that she is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Kathleen L. DiSanto, Esq. Bush Ross, P.A. P.O. Box 3913 Tampa, FL 33601-3913 Phone: (813) 224-9255 Fax: (813) 223-9620 disanto.trustee@bushross.com About Security Check Me LLC Security Check Me, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 26-04706) on May 31, 2026, with $0 to $50,000 in assets and $100,001 to $500,000 in liabilities. Judge Catherine Peek Mcewen presides over the case. Jake C. Blanchard, Esq. at Blanchard Law, P.A. represents the Debtor as legal counsel. SHERIFA ENTERPRISES: Seeks to Hire Amore Law as Bankruptcy Counsel ------------------------------------------------------------------ Sherifa Enterprises, LLC seeks approval from the U.S. Bankruptcy Court for the Northern District of West Virginia to employ Amore Law PLLC as counsel. The firm will provide these services: (a) assist the Debtor with preparation of schedules, the plan, statement of financial affairs and other required filings; (b) give the Debtor legal advice regarding its interests in the management of the property of the estate; (c) prepare motions and responses to motions which affect the interests of the Debtor; (d) defend against motions and objections which affect the interests of the Debtor; (e) attend hearings; and (f) provide such general and other duties as may be necessary through the Chapter 11 case. The firm will be paid at these hourly rates: Attorneys $600 Paralegal $125 Aaron Amore, Esq., an attorney at Amore Law, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Aaron C. Amore, Esq. Amore Law, PLLC 206 West Liberty St. Charles Town, WV 25414 Telephone: (304) 885-4117 Email: aaron@amorelaw.com About Sherifa Enterprises LLC Sherifa Enterprises, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. W.V. Case No. 26-00347) on May 18, 2026. In the petition signed by Ismail Latif, member and owner, the Debtor disclosed up to $50,000 in assets and up to $10 million in liabilities. Judge David L. Bissett oversees the case. Aaron C. Amore, Esq., at Amore Law, PLLC represents the Debtor as counsel. SHERWOOD LANE: Seeks to Hire Michael P. Heiser as Legal Counsel --------------------------------------------------------------- Sherwood Lane Development, LLC seeks approval from the U.S. Bankruptcy Court for the District of Alaska to employ Michael Heiser, Esq., an attorney practicing in Ketchikan, Alaska, as counsel. The attorney's services include: (a) prepare and amend schedules and other required filings; (b) advise and represent the Debtor with respect to the sale of property of the estate; (c) advise and represent the Debtor in the negotiation and preparation of a plan of reorganization and disclosure statement, if the case proceeds to that point; and (d) other matters relating to the administration of the bankruptcy estate. Mr. Heiser disclosed in a court filing that he is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The attorney can be reached at: Michael P. Heiser 300 Mill Street, Suite 20 P.O. Box 23032 Ketchikan, AK 99901 Telephone: (907) 225-1910 Email: mphesq@kpunet.net About Sherwood Lane Development LLC Sherwood Lane Development, LLC is a single-asset real estate company that owns and manages real property located at 2500 Sherwood Lane in Juneau, Alaska. Sherwood Lane Development sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Alaska Case No. 26-00099) on April 27, 2026. In the petition signed by Timothy A. Miller, managing member, the Debtor disclosed up to $10 million in both assets and liabilities. Judge Gary Spraker oversees the case. The Debtor is represented by Michael P. Heiser, Esq. SHIV POOJA: Voluntary Chapter 11 Case Summary --------------------------------------------- Debtor: Shiv Pooja, Inc. 22274 Lujon Dr, Northville, MI 48167 Business Description: Shiv Pooja, Inc. is a Whitmore Lake, Michigan-based hotel operator associated with a 59-room hotel at 9897 Main Street near US-23 between Ann Arbor and Brighton. Chapter 11 Petition Date: June 8, 2026 Court: United States Bankruptcy Court Eastern District of Michigan Case No.: 26-46566 Judge: Hon. Maria L Oxholm Debtor's Counsel: Robert Bassel, Esq. ROBERT N. BASSEL PO BOX T Clinton, MI 49236 Tel: 248.677.1234 Email: bbassel@gmail.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Kalpana Patel as principal. 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/6XFKGRY/Shiv_Pooja_Inc__miebke-26-46566__0001.0.pdf?mcid=tGE4TAMA SHOW LOW: Seeks to Hire Land Advisors Organization as Broker ------------------------------------------------------------ Show Low Development Partners, LLC seeks approval from the U.S. Bankruptcy Court for the Middle District of Florida to employ Arizona Land Advisors, LLC, doing business as Land Advisors Organization, as broker. The Debtor needs a broker to sell its property located at County of Navajo, Arizona. The broker will receive a commission of 5 percent of the property's gross sales price. Michael Schwab, a designated broker at Land Advisors Organization, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Michael R. Schwab Land Advisors Organization 4900 North Scottsdale Road, Suite 3000 Scottsdale, AZ 85251 Telephone: (480) 483-8100 Facsimile: (480) 483-0000 About Show Low Development Partners LLC Show Low Development Partners, LLC owns and manages real estate in Navajo County, Arizona, including a property of approximately 124 acres, focusing on land development and investment activities. Show Low Development Partners, LLC in Ocala, FL, sought relief under Chapter 11 of the Bankruptcy Code filed its voluntary petition for Chapter 11 protection (Bankr. M.D. Fla. Case No. 25-04254) on Nov. 18, 2025, listing as much as $1 million to $10 million in both assets and liabilities. Steve Holgate, vice president, signed the petition. Latham Luna Eden & Beaudine LLP serves as the Debtor's counsel. SILVER STAR: Gets Interim OK to Use Cash Collateral --------------------------------------------------- Silver Star Virginia Parkway, LLC received interim approval from the U.S. Bankruptcy Court for the Northern District of Texas, Fort Worth Division, to use the cash collateral of secured lender Ashton Gaskins Storage, LLC. Under the interim order, the Debtor is authorized to use cash collateral based on an approved five-week budget, which projects total operational expenses of $41,972.25. The budget may be modified before the final hearing through agreement between the Debtor and the lender, subject to further court approval. The authority to use cash collateral remains in effect until the entry of either a subsequent interim order or a final order. As adequate protection for any decline in the value of its collateral, Ashton will be granted replacement liens on the Debtor's rents, accounts, and other personal property whether acquired before or after the bankruptcy filing. The replacement liens maintain the same validity and priority as the lender's pre-petition liens and are automatically perfected without the need for additional filings. These liens do not apply to avoidance actions and remain subject to a fee carveout. The court preserves all parties' rights to challenge the validity, priority, or enforceability of the lender's liens and to seek additional relief regarding cash collateral use. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/i2vt8 from PacerMonitor.com. A final hearing is scheduled for June 22, with objections due by June 18. About Silver Star Virginia Parkway LLC Silver Star Virginia Parkway, LLC, doing business as Silver Star Storage, is a real estate company that owns and operates a self-storage facility in McKinney, Texas, as its sole asset. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Tex. Case No. 26-42315) on May 28, 2026, with $7,650,856 in total assets and $5,982,406 in total liabilities. David T. Wheeler, manager of Silver Star, signed the petition. Judge Mark X. Mullin oversees the case. Robert T. DeMarco, Esq., at DeMarco Mitchell, PLLC, represents the Debtor as legal counsel. SLEEP NUMBER: Board Approves One-Time Executive Retention Awards ---------------------------------------------------------------- Sleep Number Corporation announced in a regulatory filing that the Board of Directors, with the advice of its independent compensation consultant and its financial advisors, approved one-time cash retention awards to critical leaders, including named executive officers. In connection with the grants of the Retention Awards, Ms. Findley waived her right to receive payment of the outstanding portion of her previously-granted sign-on bonus, and Messrs. Hellfeld and Krusmark and Ms. Barra waived their right to receive payment of any outstanding amounts under their previously-granted retention awards, including awards granted in March 2025. Ms. O'Keefe did not have any outstanding retention awards and thus did not waive any outstanding amounts. The following sets forth the amounts of the Retention Awards as well as the amounts waived by the named executive officers: 1. Linda Findley - President and Chief Executive Officer * Retention Award: $2,500,000 * Waived Previous Sign-On Bonus or Retention Award: $625,000 * Net New Retention Amount: $1,875,000 2. Amy O'Keefe - Executive Vice President and Chief Financial Officer * Retention Award: $1,000,000 * Waived Previous Sign-On Bonus or Retention Award: $-- * Net New Retention Amount: $1,000,000 3. Melissa Barra - Executive Vice President and Chief Product, Technology & Strategy Officer * Retention Award: $700,000 * Waived Previous Sign-On Bonus or Retention Award: $400,000 * Net New Retention Amount: $300,000 4. Samuel Hellfeld – Executive Vice President and Chief Legal & Risk Officer and Secretary * Retention Award: $850,000 * Waived Previous Sign-On Bonus or Retention Award: $400,000 * Net New Retention Amount: $450,000 5. Christopher Krusmark - Executive Vice President and Chief Retail & People Officer * Retention Award: $450,000 * Waived Previous Sign-On Bonus or Retention Award: $300,000 * Net New Retention Amount: $150,000 The Retention Awards, less any necessary deductions, were paid by the Company to each named executive officer on May 27, 2026, the effective date of the named executive officer's letter agreement which sets forth the terms and conditions of the respective Retention Award. The Retention Agreements require repayment of the Retention Award by each named executive officer if the named executive officer's employment is terminated by the Company for "cause" or due to resignation by the executive, in each case within 12 months of the issuance date. Such repayment obligation will no longer apply in the event of certain corporate events, including certain corporate transactions, or in the event the named executive officer experiences a termination of employment by the Company without "cause" or due to death or disability. The description is a summary of the terms of the Retention Agreements and is subject to and qualified in its entirety by the terms of the Retention Agreements, copies of which will be filed with the Company's Quarterly Report on Form 10-Q for the quarter ending July 4, 2026. 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. Minneapolis, Minnesota-based Deloitte & Touche LLP, the Company's auditor since 2023, issued a "going concern" qualification in its report dated March 12, 2026, citing that the impending maturity of the Company's credit facility, projections of noncompliance with future debt covenants, and lack of liquidity raise substantial doubt about its ability to continue as a going concern. SMART COUNSELING: Seeks to Hire Janus Law as Bankruptcy Counsel --------------------------------------------------------------- Smart Counseling and Mental Health Center Licensed Professional Clinical Counselor, Inc. seeks approval from the U.S. Bankruptcy Court for the Central District of California to employ Janus Law as counsel. The firm will render these services: (a) advise and assist the Debtor with respect to compliance with the requirements of the Office of the United States Trustee; (b) conduct examinations of the witnesses, claimants, or adverse parties and prepare and assist in the preparation of reports, accounts, applications, motions, complaints, and orders; (c) advise the Debtor regarding matters of bankruptcy laws; (d) represent the Debtor in any proceedings or hearings in this Court and any proceeding in any other court where its rights under the Bankruptcy Code may be litigated or affected; (e) advise the Debtor concerning the requirements of the Bankruptcy Court, the Federal Rules of Bankruptcy Procedure, and Local Bankruptcy Rules; (f) file any motions, applications, or other pleadings appropriate to effectuate the reorganization of the Debtor; (g) review, claims filed in the Debtor's case, and, if appropriate, prepare and file objections to disputed claims; (h) represent the Debtor in litigation in the Bankruptcy Court affecting the estate, as may be requested; (i) assist the Debtor in the negotiation, formulation, confirmation, and implementation of a Chapter 11 plan; and (j) take such other action and perform such other services as the Debtor may require of the firm in connection with its Chapter 11 case. The firm's counsel will be paid at these hourly rates: Larry Simons, Attorney $475 Frank Ruggler, Attorney $450 Angela Jones, Attorney $440 Kiela Sosa, Attorney $200 In addition, the firm will seek reimbursement for expenses incurred. The firm received a prepetition retainer of $6,000 from the Debtor. Mr. Simons disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Larry D. Simons, Esq. Janus Law 15545 Devonshire Street, Suite 110 Mission Hills, CA 91345 Telephone: (818) 672-1778 Facsimile: (818) 698-1981 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. Cal. 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 counsel. SP TRANS: Gets Interim OK to Use Cash Collateral Until July 3 ------------------------------------------------------------- SP Trans, Inc. received interim approval from the U.S. Bankruptcy Court for the Northern District of Illinois, Eastern Division, to use cash collateral to fund operations. Under the interim order, the Debtor is authorized to use the cash collateral of its lenders based on a court-approved budget through July 3 or until a final hearing is held. The creditors asserting interests in cash collateral include Navitas Credit Corp., Auxilior Capital, the U.S. Small Business Administration and several equipment lenders. The SBA filed a broad lien against substantially all of the Debtor's personal property and related proceeds arising from pandemic-era lending programs. Beyond these creditors, The Debtor also has financing arrangements with lenders that financed specific equipment and claim security interests in the financed assets. According to the Debtor, none of these equipment lenders filed UCC financing statements that would extend their interests to the proceeds of the equipment or the Debtor's general cash collateral. As adequate protection, lenders will be granted automatically perfected replacement liens on post-petition personal property and cash proceeds, including accounts receivable and contract rights. In addition, certain lenders will receive payments as outlined in the approved budget. Events of default include unauthorized budget overruns, payment of unapproved expenses, materially false financial reporting, appointment of a trustee or examiner without lender consent, and case dismissal or conversion. Upon a default, lenders may seek expedited court relief, including termination or restriction of the Debtor's use of cash collateral. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/lUOIS from PacerMonitor.com. The next hearing is scheduled for June 30. SP Trans was formed in 2016 as a transportation equipment holding company that acquires, finances, and operates tractors and trailers used in commercial trucking. In 2025, the Debtor simplified its business model and transitioned primarily into leasing trailers and transportation equipment to other entities rather than directly engaging in trucking operations. Its principal lessee is LJD Logistics, Inc., an affiliated motor carrier company formed in 2019. The Debtor's financial difficulties stem largely from industry-wide economic conditions. Following a sharp downturn in the trucking market beginning in late 2022, freight rates declined while debt obligations remained high. The Debtor also experienced increased maintenance expenses associated with equipment manufactured after the COVID-19 pandemic. The Debtor said its restructuring effort is intended to realign debt obligations with current freight market economics, preserve the viability of the affiliated operating company, maintain employment for drivers and contractors, and maximize value for creditors. About SP Trans Inc. SP Trans, Inc. is a transportation and logistics company. SP Trans sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-05232) on March 24, 2026. In its petition, the Debtor reported assets of up to $100,000 and liabilities of between $1 million and $10 million. Judge Michael B. Slade oversees the case. The Debtor is represented by Laxmi P. Sarathy, Esq., at Whitestone, P.C. Robert Handler of Commercial Recovery Associates, LLC serves as Subchapter V trustee for the Debtor. SPHERE 3D: Closes All-Stock Acquisition of Cathedra Bitcoin ----------------------------------------------------------- Sphere 3D Corp. announced in a regulatory filing that pursuant to the terms and conditions set forth in the Arrangement Agreement dated March 5, 2026, by and among Sphere, S3D Acquisition Corp., a wholly-owned subsidiary of Sphere, and Cathedra Bitcoin Inc., a company existing under the laws of the Province of British Columbia, Canada, Sphere (through Amalco Sub) acquired all of the issued and outstanding subordinate voting shares of Cathedra and multiple voting shares of Cathedra pursuant to a plan of arrangement under the Business Corporations Act (British Columbia), with Cathedra becoming a wholly-owned subsidiary of Sphere. Exchange Consideration At the effective time of the Arrangement, among other things: * Each holder of Cathedra SV Shares received 0.123014 Sphere Common Shares for each Cathedra SV Share held (the "SVS Exchange Ratio"); * Each holder of Cathedra MV Shares received 12.3014 Sphere Common Shares for each Cathedra MV Share held (the "MVS Exchange Ratio"); * Each unvested restricted share unit to acquire Cathedra SV Shares, other than the Cathedra RSU held by Joel Block described below, fully vested in accordance with its terms and each holder received the number (rounded down to the nearest whole number) of Sphere Common Shares equal to the product of (i) the number of Cathedra SV Shares subject to the Accelerated Cathedra RSU immediately before the Effective Time, multiplied by (ii) the SVS Exchange Ratio; * The unvested restricted share unit held by Joel Block was exchanged for a replacement RSU allowing Mr. Block to receive the number (rounded down to the nearest whole number) of Sphere Common Shares equal to the product of (i) the number of Cathedra SV Shares subject to the original Cathedra RSU immediately before the Effective Time, multiplied by (ii) the SVS Exchange Ratio; and * Each holder of warrants to acquire Cathedra SV Shares received a replacement warrant allowing the holder to acquire (rounded down to the nearest whole number) Sphere Common Shares equal to the product of (i) the number of Cathedra SV Shares subject to the original Cathedra Warrant immediately prior to the Effective Time, multiplied by (ii) the SVS Exchange Ratio, with the exercise price per Sphere Common Share equal to the quotient (rounded up to the nearest one-hundredth of a cent) of (x) the exercise price per Cathedra SV Share underlying the exchanged Cathedra Warrant immediately prior to the Effective Time divided by (y) the SVS Exchange Ratio, subject to certain adjustments. Certain Cathedra shareholders who would otherwise receive Sphere Common Shares in excess of 7% of the then-outstanding Sphere Common Shares (on a non-diluted basis following consummation of the Arrangement) instead received, in lieu of the number of Sphere Common Shares in excess of the Ownership Cap, an equivalent number of Series I Preferred Shares. In the aggregate, the securities issued pursuant to the Arrangement consisted of: (i) 2,405,300 Sphere Common Shares, (ii) 1,387,117 Series I Preferred Shares, (iii) restricted share units in respect of up to an aggregate of 178,073 Sphere Common Shares issued in exchange for the outstanding Cathedra RSU held by Joel Block, and (iv) warrants to purchase up to an aggregate of 115,867 Sphere Common Shares at exercise prices ranging from $11.08 to $272.40 per share, issued in exchange for outstanding Cathedra Warrants. These securities were issued in reliance upon Section 3(a)(10) of the Securities Act of 1933, as amended, based on the final order of the Supreme Court of British Columbia issued on May 25, 2026, approving the Plan of Arrangement following a hearing by the court which considered, among other things, the fairness of the Arrangement to the persons affected. Series I Preferred Shares On May 29, 2026, Sphere filed articles of amendment to establish the preferences, limitations and relative rights of the Series I Preferred Stock. The Sphere Common Shares rank junior to the Series I Preferred Shares in all respects (except as provided in connection with certain liquidation events), and Sphere's Series H Preferred Shares rank senior to the Series I Preferred Shares. Holders of Series I Preferred Shares are entitled to receive dividends, subject to applicable law and the rights of the holders of Series H Preferred Shares, payable annually on June 1 of each applicable calendar year, exclusively in additional Series I Preferred Shares at a rate of 8.00% per annum for each of the first three 12-month periods following the Closing. Holders of Series I Preferred Shares have no right to receive dividends after the 36-month anniversary of the Closing. Each share of Series I Preferred Shares (other than PIK Shares) is convertible into one Sphere Common Share on the following schedule: (x) up to 33-1/3% of such Series I Preferred Shares following the 12-month anniversary of the Closing; (y) up to an aggregate of 66-2/3% of such Series I Preferred Shares following the 24-month anniversary of the Closing; and (z) up to an aggregate of 100% of such Series I Preferred Shares following the 36-month anniversary of the Closing, in each case, excluding any PIK Shares. PIK Shares are convertible into Sphere Common Shares on a one-for-one basis on or after the 36-month anniversary of the Closing. Notwithstanding the foregoing conversion schedule, if Joel Block ceases to be Sphere's Chief Executive Officer as a result of: (i) a termination of his employment by Sphere without cause, (ii) his resignation for Good Reason (as defined in his employment agreement with Sphere), or (iii) his entry into a mutually agreed separation agreement with Sphere, or if Mr. Block is not included on Sphere's management slate of directors at any meeting of Sphere's shareholders, then each holder of Series I Preferred Shares may convert, in whole or in part and at any time thereafter, all of its Series I Preferred Shares, including all PIK Shares previously issued to such holder, into Sphere Common Shares. The aggregate number of Sphere Common Shares issuable upon conversion of the Series I Preferred Shares is subject to a cap (the "Exchange Cap") equal to the maximum number of Sphere Common Shares that Sphere may issue upon such conversion without breaching its obligations under the rules of the Nasdaq Capital Market, unless Sphere obtains shareholder approval for issuances in excess of such amount. In the event of a voluntary or involuntary liquidation, dissolution or winding-up of Sphere, holders of Series I Preferred Shares are entitled to receive, before any distribution to holders of the Sphere Common Shares or other junior shares, an amount per Series I Preferred Share equal to the greater of (i) the closing sale price of the Sphere Common Shares on the trading day immediately preceding such event and (ii) the amount such holder would have received had its Series I Preferred Shares been converted into Sphere Common Shares immediately prior to the liquidation event. Until the date following the 36-month anniversary of the Closing Date, Sphere may not, without the approval of the holders of a majority of the then outstanding Series I Preferred Shares, make any return of capital in respect of shares ranking junior to or pari passu with the Series I Preferred Shares, unless holders of Series I Preferred Shares participate on a pari passu basis with the holders of Sphere Common Shares. Board of Directors Pursuant to the terms of the Arrangement Agreement and effective at the Effective Time, Duncan McEwan and Susan Harnett resigned from the board of directors of Sphere. The resignations of Mr. McEwan and Ms. Harnett were not the result of any disagreement with Sphere on any matter relating to Sphere's operations, policies or practices. Effective immediately following the Effective Time and as previously approved by the shareholders of Sphere, Kurt Kalbfleisch, Marcus Dent, Joel Block and Nicholas Gates have been appointed to the Sphere Board, and current director Timothy Hanley has been appointed Chairman. The Sphere Board has determined that each of Messrs. Dent, Gates and Hanley is independent under the applicable listing rules of The Nasdaq Stock Market LLC and the rules and regulations of the SEC. Following the appointment of the new directors, the composition of the standing committees of the Sphere Board is as follows: * the Audit Committee consists of Marcus Dent, Nicholas Gates and Timothy Hanley, with Mr. Hanley serving as Chair; * the Compensation Committee consists of Marcus Dent, Timothy Hanley and Nicholas Gates, with Mr. Gates serving as Chair; and * the Nominating and Governance Committee consists of Nicholas Gates, Timothy Hanley and Marcus Dent, with Mr. Dent serving as Chair. The Sphere Board has determined that each member of the Audit Committee satisfies the additional independence standards for audit committee members set forth in Rule 10A-3(b)(1) under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and Nasdaq Rule 5605(c)(2)(A), and that Mr. Hanley qualifies as an audit committee financial expert as defined in Item 407(d)(5) of Regulation S-K under the Exchange Act. Biographical Information Kurt L. Kalbfleisch, age 60, has served as Sphere's Chief Financial Officer since December 1, 2014. Previously, Mr. Kalbfleisch served as Sphere's Chief Executive Officer from November 5, 2025 to the Closing Date and as Acting Chief Executive Officer from January 31, 2025 to November 5, 2025. Mr. Kalbfleisch also served as Chief Financial Officer of Overland Storage, Inc. from February 2008 until July 19, 2022, and previously served in various other roles at Overland since July 2007, including Senior Vice President, Secretary and Vice President of Finance. Prior to joining Overland, he was a manufacturing budget analyst for McDonnell Douglas Corp. Mr. Kalbfleisch also served on the board of Paladin Group. Mr. Kalbfleisch holds a Bachelor of Arts in Business from Point Loma Nazarene University and a Master of Business Administration from the University of San Diego. Joel Block, age 42, was appointed Sphere's Chief Executive Officer effective as of the Closing Date. Mr. Block is a seasoned executive with more than 20 years of experience across finance, accounting, operations, and sales. From July 2025 to the Closing Date, Mr. Block served as Chief Executive Officer of Cathedra and Chairman of Cathedra's board of directors. From December 2021 to November 2023, he served as the Chief Financial Officer of US Bitcoin Corp.; prior to this role, from September 2021 to November 2021, he served as US Bitcoin Corp.'s Chief Business Officer. US Bitcoin Corp. merged with Hut 8 Corp. on November 30, 2023. From February 2015 to August 2021, he served as CFO, and then CEO, of Collegewise, one of the US's largest college admissions companies. From 2005 to 2013, he served in a number of roles at Credit Suisse, including as a Vice President on the Institutional Fixed Income Sales team, where he specialized in interest rate derivatives and hedging transactions. He has served on the board of the Young Presidents Organization Orange County Chapter. He received his Bachelor of Business Administration with concentrations in Finance and Accounting and a minor in Statistics from the University of Michigan Ross School of Business. Marcus Dent, age 34, is the founder of TFTC.io, a media company focused on Bitcoin and Freedom in the Digital Age, and a Managing Partner at Ten31, a bitcoin-focused venture capital firm. Previously, Mr. Dent served as Director of Business Development at Great American Mining from 2019 to 2021. Nicholas Gates, age 37, is a seasoned energy executive with over a decade of experience leading large-scale power and infrastructure projects across the U.S. From March 2021 to January 2025, he served as Senior Business Development Manager at Priority Power Management, LLC, where he led business development efforts to expand Priority Power's market presence in Bitcoin mining and data centers. Since January 2025, he has served as Managing Director of Integrated Projects at Priority Power, where he spearheads strategic growth for clients in Bitcoin mining, HPC, and AI through site development and power procurement. He holds both an MBA in Finance and a Bachelor of Science in Business Administration from The University of Tulsa. Executive Officer Changes Pursuant to the terms of the Arrangement Agreement and effective immediately following the Effective Time, Kurt Kalbfleisch resigned as Chief Executive Officer of Sphere and Joel Block was appointed Chief Executive Officer of Sphere. Mr. Kalbfleisch remains Sphere's Chief Financial Officer. Employment Agreements On the Closing Date, Sphere entered into an Employment Agreement with Joel Block, pursuant to which Mr. Block will serve as Chief Executive Officer of Sphere. The Block Employment Agreement does not provide for a fixed term, and Mr. Block's employment is "at will," terminable by either Sphere or Mr. Block at any time, with or without cause and with or without notice, subject to the severance provisions described below. Sphere has agreed to use commercially reasonable efforts to cause Mr. Block to be nominated for re-election as a director at each annual general meeting of Sphere's shareholders. Under the Block Employment Agreement, Mr. Block will receive an annual base salary of $425,000, subject to annual review (with the first review effective as of January 31, 2027), and is eligible to receive an annual discretionary bonus with a target of 125% of his base salary, with the actual amount determined by the Sphere Board (or a committee thereof) based on Sphere's performance and individual performance criteria established in consultation with Mr. Block. Mr. Block is also eligible to receive annual long-term incentive equity awards, which may include stock options, restricted stock, RSUs, stock appreciation rights, phantom stock or other equity-based awards, as determined by the Compensation Committee in its sole discretion. In connection with the commencement of his employment, subject to the approval of the Compensation Committee and the Sphere Board, Mr. Block shall be entitled to a one-time inducement equity award of 500,000 RSUs, vesting bi-annually in four equal installments over a two-year period, with the first tranche vesting on the six-month anniversary of the grant date. Pursuant to the Block Employment Agreement, Mr. Block is also eligible to receive a $1.6 million transaction-related cash retention bonus, payable upon satisfaction of two vesting conditions: (i) the achievement of certain performance milestones of the combined company; and (ii) either continued employment through January 1, 2027, or a termination of employment other than by Sphere for "Cause" or by Mr. Block without "Good Reason." If payable, the Block Cash Bonus is payable in monthly installments of $133,333. If the Sphere Board determines it does not have sufficient cash to make a monthly Block Cash Bonus payment, the payment may be made in fully vested registered Sphere Common Shares with a fair market value equal to the installment amount. In the event of a termination of Mr. Block's employment by Sphere without "Cause" or by Mr. Block for "Good Reason," and subject to his execution and non-revocation of a release of claims, Mr. Block is entitled to severance benefits consisting of: (i) continued payment of his base salary plus 100% of his Block Target Bonus (each at the highest rate in effect during the preceding year), payable in substantially equal installments over 18 months following termination; (ii) any earned but unpaid annual bonus for a completed fiscal year plus a pro-rated annual bonus for the fiscal year of termination; (iii) 18 months of continued employer-paid COBRA health coverage (or equivalent reimbursement of up to $5,000 per month); and (iv) full accelerated vesting of all unvested equity awards. During the term, Mr. Block is entitled to fully paid family health insurance and reimbursement of certain personal insurance coverage of up to an average of $5,000 per month (not to exceed $60,000 per year). On May 29, 2026, Sphere entered into a Fourth Amended and Restated Employment Agreement with Kurt Kalbfleisch, pursuant to which Mr. Kalbfleisch will serve as Chief Financial Officer of Sphere. Under the Kalbfleisch Employment Agreement, Mr. Kalbfleisch will receive an annual base salary of $330,000, subject to annual review (with the first review effective as of January 31, 2027), and is eligible to receive an annual discretionary bonus with a target of 90% of his base salary. Upon the consummation of the Arrangement, Mr. Kalbfleisch is entitled to a transaction bonus of $300,000, payable in three equal monthly installments following the Closing. Additionally, Mr. Kalbfleisch is eligible for a retention bonus of $1,095,000, payable in monthly installments of $91,250, contingent upon satisfaction of two vesting conditions: (i) the achievement of certain performance milestones of Sphere; and (ii) either continued employment through January 1, 2027, or a termination of employment other than by Sphere for "Cause" or by Mr. Kalbfleisch without "Good Reason." If the Sphere Board determines it does not have sufficient cash to make a monthly Kalbfleisch Cash Bonus payment, the payment may be made in fully vested registered Sphere Common Shares with a fair market value equal to the installment amount. In the event of a termination of Mr. Kalbfleisch's employment by Sphere without "Cause" or by Mr. Kalbfleisch for "Good Reason," and subject to his execution and non-revocation of a release of claims, Mr. Kalbfleisch is entitled to severance benefits. If such termination occurs on or after January 1, 2027, severance consists of continued payment of his base salary plus 100% of his Kalbfleisch Target Bonus for a period of 12 months following termination. If such termination occurs prior to January 1, 2027, Mr. Kalbfleisch is entitled to a conditional severance payment of $1,095,000, payable as salary continuation over 18 months, contingent upon satisfaction of the Performance Condition, plus health continuation benefits and equity acceleration. Receipt of such conditional severance payment precludes receipt of the Kalbfleisch Cash Bonus. In either case, Mr. Kalbfleisch is also entitled to a pro-rata share of his Kalbfleisch Target Bonus through the date of termination, any declared but unpaid bonus from the prior year, and 18 months of employer-paid COBRA health coverage continuation (or equivalent reimbursement of up to $5,000 per month). Subject to certain limited exceptions, all vested and unvested equity awards previously granted to Mr. Kalbfleisch will immediately vest upon such termination. Voting Agreements Pursuant to the terms of the Arrangement Agreement and effective at the Effective Time, Sphere entered into a Voting Agreement with Thomas Masiero, Jialin Qu, and Joel Block. Pursuant to the terms of the Voting Agreement, each Principal Holder has agreed, for a period of 24 months following the Closing Date, to vote, or cause to be voted, all Sphere Common Shares beneficially owned or controlled by such Principal Holder at each meeting of shareholders in accordance with the recommendations of the Sphere Board. During the Term, each Principal Holder has also agreed not to deposit any such Sphere Common Shares into a voting trust or other voting arrangement, and not to solicit proxies or take any action in opposition to, or in competition with, any Sphere Board-recommended proposal; provided that the foregoing voting obligations will not apply to any proposal that would materially and disproportionately adversely impact such Principal Holder compared to other Sphere shareholders. The Voting Agreement terminates automatically upon expiration of the Term and may be terminated earlier by mutual written agreement or by the Principal Holder upon the occurrence of certain events, including a material uncured breach by Sphere, a change of control of Sphere, a delisting of Sphere Common Shares, or Sphere becoming subject to bankruptcy or insolvency proceedings. In addition, solely for the Voting Agreement with Mr. Block, the Voting Agreement may be terminated by Mr. Block if he is terminated (whether or not for cause) from, or resigns from, the position of Chief Executive Officer, or any other officer position, of Sphere. Indemnity Agreements On June 1, 2026, Sphere entered into an Indemnity Agreement with each of Sphere's directors and officers. Each Indemnity Agreement provides, among other things and subject to certain limitations, that Sphere will: (1) hold harmless and indemnify the director or officer if he is, or is threatened to be made, a party to a Proceeding (as defined in the Indemnity Agreement); (2) hold harmless and indemnify the director or officer against all Expenses and Liabilities (each as defined in the Indemnity Agreement) actually and reasonably incurred in connection with a Proceeding to the extent that the director or officer is successful in such Proceeding or in defense of any claim, issue, or matter therein; (3) reimburse the director or officer for all Expenses actually and reasonably incurred if he is a witness in any Proceeding or receives a subpoena with respect to any Proceeding, and advance Expenses incurred in connection with any Proceeding; and (4) ensure that the officer or director is covered under any insurance policy maintained by Sphere that provides liability insurance for directors, officers or persons serving in a similar capacity for Sphere. Advisors and Counsel Dumoulin Black LLP acted as Canadian legal counsel to Cathedra and Greenberg Traurig, LLP acted as U.S. legal counsel to Cathedra. Evans & Evans, Inc. was the fairness opinion provider to Cathedra on this transaction. Second Gate Advisory LLC acted as strategic advisor to Sphere, Meretsky Law Firm acted as Canadian legal counsel to Sphere and Pryor Cashman LLP acted as U.S. legal counsel to Sphere. Rosenblatt Securities was the fairness opinion provider to Sphere on this transaction. About Sphere 3D Sphere 3D Corp. is a Stamford, Connecticut-based Company incorporated in Ontario, Canada, that operates a Bitcoin mining business. The Company began Bitcoin mining operations in January 2022 and seeks to grow an enterprise-scale mining operation through mining equipment procurement and service-provider partnerships. In an audit report dated March 27, 2026, MaloneBailey LLP included a going concern qualification, stating that Sphere 3D had suffered recurring losses from operations and did not expect to have sufficient cash on hand to fund operations. The conditions raised substantial doubt about the Company's ability to continue as a going concern. As of Dec. 31, 2025, the Company reported total assets of $25.12 million, total current liabilities of $1.80 million and total shareholders' equity of $23.30 million. SPIRIT AIRLINES: Wins Interim OK for Exec. Bonuses During Wind Down ------------------------------------------------------------------- Alex Wittenberg of Law360 Bankruptcy Authority reports that Spirit Airlines moved closer to securing approval for an executive bonus program after a New York bankruptcy judge indicated Wednesday that he was likely to authorize incentive payments totaling as much as $1.9 million for three members of management. The company said the bonuses are intended to reward executives who remain in place and successfully guide the airline through its shutdown and liquidation efforts. Spirit emphasized that the executives’ continued involvement is essential to completing transactions and maximizing recoveries for stakeholders. While the judge stopped short of issuing a final ruling, he suggested that the request was justified given the responsibilities being carried out by management during the bankruptcy case. The proposed bonuses would be tied to performance and completion of specific wind-down objectives, the report states. About Spirit Aviation Holdings Inc. Spirit Aviation Holdings, Inc. and its subsidiaries operate Spirit Airlines, a U.S.-based low-cost carrier providing air transportation services across the United States, Latin America, and the Caribbean. They employ approximately 25,000 direct employees and independent contractors. Spirit Aviation Holdings and its subsidiaries sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. N.Y. Lead Case No. 25-11897) on August 29, 2025. In the petition signed by Frederick Cromer, authorized signatory, Spirit Aviation Holdings disclosed $8,576,287,000 in assets and $8,096,842,000 in liabilities as of June 30, 2025. Judge Sean H. Lane oversees the cases. The Debtors tapped Davis Polk & Wardwell, LLP as bankruptcy counsel; PJT Partners LP as investment banker; FTI Consulting, Inc. as restructuring, fleet and communications advisor; Debevoise & Plimpton, LLP as fleet counsel; Morris, Nichols, Arsht & Tunnell, LLP as conflicts counsel, and Ernst & Young, LLP as its audit and tax services provider. Epiq Corporate Restructuring, LLC is the claims, noticing, solicitation and administrative agent. The U.S. Trustee for Region 2 appointed an official committee to represent unsecured creditors in the Debtors' Chapter 11 cases. The committee tapped Willkie Farr & Gallagher, LLP as legal counsel; Alton Aviation Consultancy, LLC as specialized aviation advisor; Jefferies. LLC as investment banker; and AlixPartners, LLP as financial advisor. SSP WASTE: Creditors to Get Proceeds From Liquidation ----------------------------------------------------- SSP Waste, Inc., filed with the U.S. Bankruptcy Court for the District of Colorado a Subchapter V Plan of Liquidation dated June 2, 2026. When the bankruptcy case was filed, the Debtor was engaged in the business of, among other things, residential trash removal and recycling in Jefferson County, Clear Creek County, and Park County, Colorado. The Debtor is owned 98% by Adam Shirley and 2% by Edward Shirley. The Debtor filed its chapter 11 case as a result of continuing losses and ongoing litigation with equipment lenders and merchant cash advance lenders. During the Chapter 11 Case, the Debtor sold substantially all of its assets to South Platte Services, LLC (the "Sale"). Through this Plan, the Debtor seeks authorization to complete its liquidation and make a distribution to creditors. Class 2 consists of the Allowed Claims of unsecured creditors. The Holders of Allowed Class 2 Claims shall be paid their Pro Rata share of the Debtor's Cash remaining after payment of the Administrative Claims, Tax Claims and the Class 1 Claim. Payment shall be made on or before October 31, 2026. Distributions to Class 10 claimants shall not exceed the amount of the Allowed Unsecured Claims. Class 2 is Impaired. Class 3 consists of the Interests in the Debtor. All Interests will be terminated upon the Effective Date. Class 3 is Impaired. On the Confirmation Date, Adam Shirley shall be appointed as agent pursuant to section 1142 of the Bankruptcy Code for the purpose of carrying out the terms of the Plan, and taking all actions deemed necessary or convenient to consummating the terms of the Plan, including, but not limited to, execution of documents. On the Effective Date, the Debtor shall implement its Plan of Liquidation pursuant to the terms for each Class of Claims and Interests set forth above. Payments under the Plan shall come from the Debtor's Cash. Payments to creditors holding Contested Claims as provided in Article XI herein shall be held in escrow. The Debtor shall fund its Plan with Cash on hand as of the Effective Date and the net proceeds of the sales of its remaining assets. All equipment sales will be completed by September 30, 2026. Such funds will be sufficient to pay in full all amounts due on the Effective Date. A full-text copy of the Liquidating Plan dated June 2, 2026 is available at https://urlcurt.com/u?l=KFzpo2 from PacerMonitor.com at no charge. Counsel to the Debtor: David V. Wadsworth, Esq. David J. Warner, Esq. Wadsworth Garber Warner Conrardy, P.C. 2580 West Main Street, Suite 200 Littleton, CO 80120 Telephone: (303) 296-1999 Facsimile: (303) 296-7600 E-mail: dwadsworth@wgwc-law.com dwarner@wgwc-law.com About SSP Waste Inc. SSP Waste, Inc., is engaged in the business of, among other things, residential trash removal and recycling in Jefferson County, Clear Creek County, and Park County, Colorado. SSP Waste sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Colo. Case No. 26-11311) on March 4, 2026, listing assets of between $500,001 and $1 million and liabilities of between $1 million and $10 million. Judge Michael E. Romero presides over the case. David Wadsworth, at Wadsworth Garber Warner Conrardy, P.C., is the Debtor's legal counsel. SUN GIR: Seeks to Tap The Bensamochan Law Firm as Legal Counsel --------------------------------------------------------------- Sun Gir Incorporated seeks approval from the U.S. Bankruptcy Court for the Central District of California to employ The Bensamochan Law Firm, Inc. as counsel. The firm will provide these services: (a) advise the Debtors 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; (b) assist the Debtors in preparing and filing Schedules and Statement of Financial Affairs, complying with and fulfilling U.S. Trustee requirements, comply with and fulfilling the requirements of the Bankruptcy Code and, in particular, the requirements of Chapter 11 of the Bankruptcy Code, and prepare other pleadings and documents as may be required after the initiation of a Chapter 11 case; (c) represent the Debtors at the Initial Debtor Interview and the Bankruptcy Code section 341(a) meeting of creditors, and any continuances thereof; (d) assist the Debtors in identifying and, to the extent necessary, obtaining Court approval of the employment of any other professionals necessary for the Debtors to complete this bankruptcy case; (e) assist the Debtors in negotiations with creditors and other parties-in-interest; (f) assist the Debtors in the preparation and formulation of a Chapter 11 plan and confirmation of such a plan; (g) advise the Debtors concerning the rights and remedies of the estate and of them in regard to adversary proceedings which may be removed to, or initiated in, the Bankruptcy Court, and assist them, if appropriate, in retaining special counsel to litigate such adversary proceedings; (h) prepare all legal papers on behalf of the Debtors that are necessary to the administration of the cases; (i) represent the Debtors in any proceeding or hearing in the Bankruptcy Court in any action where the rights of the estate or the Debtors may be litigated, or affected; and (j) otherwise provide those services to the Debtors as are generally provided by general insolvency counsel to them in a Chapter 11 case. The hourly rates of the firm's counsel and staff are: Eric Bensamochan, Attorney $625 Renee Kuperman, Attorney $395 In addition, the firm will seek reimbursement for expenses incurred. On or about April 2, 2026, the firm received a $130,428 from the Debtors. Mr. Bensamochan disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Eric Bensamochan, Esq. The Bensamochan Law Firm, Inc. 2566 Overland Ave., Suite 650 Los Angeles, CA 90064 Telephone: (818) 574-5740 Email: eric@eblawfirm.us About Sun Gir Incorporated Sun Gir Incorporated and affiliates operate 59 Carl's Jr. restaurant locations across California. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Cal. Case No. 26-11056) on April 2, 2026. In the petition signed by Harshad Dharod, president, the Debtor disclosed up to $50,000 in both assets and liabilities. Judge Scott C. Clarkson oversees the case. Eric Bensamochan, Esq., at Eric Bensamochan Law Firm, Inc. represents the Debtor as counsel. SUNNY LIQUOR: Mark Schlant Named Subchapter V Trustee ----------------------------------------------------- The U.S. Trustee for Region 2 appointed Mark Schlant, Esq., at Zdarsky, Sawicki & Agostinelli, LLP as Subchapter V trustee for Sunny Liquor, LLC. Mr. Schlant will be paid an hourly fee of $320 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Schlant declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Mark J. Schlant, Esq. Zdarsky, Sawicki & Agostinelli, LLP 1600 Main Place Tower 350 Main St. Buffalo, NY 14202 Phone: (716) 855-3200 Email: mschlant@zsalawfirm.com About Sunny Liquor LLC Sunny Liquor LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D.N.Y. Case No. 26-10698) on June 3, 2026, with $100,001 to $500,000 in assets and 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. TM36 LLC: Committee Seeks to Hire Dykema Gossett as Legal Counsel ----------------------------------------------------------------- The official committee of unsecured creditors appointed in the Chapter 11 cases of TM36, LLC and its affiliates seeks approval from the U.S. Bankruptcy Court for the Southern District of Texas to employ Dykema Gossett, PLLC as counsel. The firm will provide these services: (a) advise the committee with respect to its rights, duties, and powers in these Chapter 11 cases; (b) participate in in-person and telephonic meetings of the committee and subcommittees formed thereby, if any; (c) assist and advise the committee in its meetings and negotiations with the trustee and other parties in interest regarding these Chapter 11 cases; (d) assist the committee in analyzing claims asserted against, and interests in, the Debtors, and in negotiating with the holders of such claims and interest and bringing, or participating in, objections or estimation proceedings with respect to such claims and interests; (e) assist the committee in analyzing the Debtors' assets and liabilities; (f) assist the committee in its investigation of the acts, conduct, assets, liabilities, management, and financial conditions of the Debtors, their historic and ongoing operations of their business, and any other matters relevant to these Chapter 11 cases; (g) assist the committee in its analysis of, and negotiations with the Debtors or any third party related to, financing, asset disposition transactions, and compromises of controversies, review and determine its rights and obligations under leases and executory contracts, and assist, advise, and represent the committee in any manner relevant to the assumption and rejection of executory contracts and unexpired leases; (h) assist the committee in its analysis of, and negotiations with, the Debtors or any third party related to, the formulation, confirmation, and implementation of a Chapter 11 plan and all documentation related thereto; (i) assist, advise, and represent the committee in understanding its powers and duties under the Bankruptcy Code and the Bankruptcy Rules and in performing other services as are in the interests of those represented by the committee; (j) assist and advise the committee with respect to communications with the general creditor body regarding significant matters in these Chapter 11 cases; (k) respond to inquiries from individual creditors as to the status of, and developments in, these Chapter 11 cases; (l) represent the committee at hearings and other proceedings before the court and other courts or tribunals, as appropriate; (m) review and analyze complaints, motions, applications, orders, and other pleadings filed with the Court, and advise the committee with respect to formulating positions with respect, and filing responses, thereto; (n) assist the committee in its review and analysis of, and negotiations with the Debtors and their non-Debtor affiliates related to intercompany claims and transactions; (o) review and analyze third-party analyses and reports prepared in connection with the Debtors' potential claims and causes of action, advise the committee with respect to formulating positions thereon, and perform such other diligence and independent analysis as may be requested by the committee; (p) advise the committee with respect to applicable federal and state regulatory issues, as such issues may arise in these Chapter 11 cases; (q) assist the committee in preparing pleadings and applications, and pursuing or participating in adversary proceedings, contested matters, and administrative proceedings as may be necessary or appropriate in furtherance of the committee's duties; (r) take all necessary or appropriate actions as may be required in connection with the administration of the Debtors' estates; and (s) perform such other legal services as may be necessary or as may be requested by the committee in accordance with its powers and duties as set forth in the Bankruptcy Code. The firm's counsel and staff will be paid at these hourly rates: William Hotze, Member $750 Michael Twomey, Member $715 Jennifer Cruz, Senior Counsel $625 Dominique Douglas, Associate $575 Sebastian Campos, Paralegal $350 In addition, the firm will seek reimbursement for expenses incurred. Mr. Hotze disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: William Hotze, Esq. Dykema Gossett PLLC 5 Houston Center, 1401 McKinney Street, Suite 1625 Houston, TX 77010, Telephone: (713) 904-6900 Email: whotze@dykema.com About TM36 LLC TM36, LLC, StopLoss, LLC, StopLoss Logistics, LLC, StopLoss Specialists, LLC, and StopLoss Response Services, LLC provide emergency response and property restoration services focused primarily on large commercial buildings that have sustained significant disaster or weather-related damage. StopLoss LLC functions as the holding company for StopLoss Response Services, LLC, StopLoss Logistics, LLC, and TM36 LLC, while StopLoss Specialists, LLC holds contractor licenses and enters into project contracts. The subsidiaries support project execution through subcontracted restoration work, equipment logistics and transportation, and ownership of operational equipment. The Debtors sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Texas Lead Case No. 26-90386) on March 5, 2026. In the petition signed by Pablo Bonjour, chief restructuring officer, TM36 disclosed up to $10 million in both assets and liabilities. Judge Alfredo R. Perez oversees the cases. The Debtors tapped Aaron J. Power, Esq., at Porter Hedges, LLP, as bankruptcy counsel and Veritas Restructuring Group as financial advisor. On April 24, 2026, the Office of the United States Trustee for Region 7 appointed an official committee of unsecured creditors in these Chapter 11 cases. The committee tapped Dykema Gossett, PLLC as counsel. TRICOLOR AUTO: Judge Rakoff Clears Big Banks in Investor Fraud Suit ------------------------------------------------------------------- Jon Hill of Law360 Bankruptcy Authority reports that a federal judge in New York has thrown out claims against JPMorgan, Barclays, and Fifth Third, rejecting allegations that the banks played a role in enabling a sprawling fraud that allegedly harmed investors. Judge Jed Rakoff concluded that the plaintiffs failed to plead facts showing the banks had the requisite knowledge of the scheme or provided the type of substantial assistance necessary to support fraud-related claims. The court found that the allegations largely relied on the institutions’ provision of ordinary banking services, the report relays. The ruling dismisses the banks from the lawsuit and marks a setback for investors seeking to recover losses from deep-pocketed financial institutions. The decision underscores the difficulty of imposing liability on banks absent evidence of active participation in fraudulent conduct, according to Law360. About Tricolor Auto Acceptance Tricolor Auto Acceptance is an Irving, Texas-based subprime auto lender. Tricolor Auto Acceptance, together with its parent Tricolor Auto Group and other affilites sought relief under Chapter 7 of the U.S. Bankruptcy Code (Bankr. N.D. Tex. Case No. 25-33497) on September 10, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 billion and $10 billion each. The Debtor is represented by Thomas Robert Califano, Esq. at Sidley Austin LLP. TRINSEO PLC: Bank, Union, Supplier Join Creditor Committee ---------------------------------------------------------- Ben Zigterman of Law360 Bankruptcy Authority reports that representatives of a bank, a labor organization, and a subsidiary of a German chemical company have been selected to serve on the official unsecured creditors committee in Trinseo PLC's Chapter 11 bankruptcy. The appointments provide key creditor constituencies with formal representation in the case. The committee will work on behalf of unsecured creditors by reviewing the debtor's business operations, financial disclosures, and restructuring proposals. It is also expected to negotiate with Trinseo and other parties regarding the terms of any future reorganization plan, the report relays. As the bankruptcy progresses, the committee is likely to become a major participant in the proceedings. Its members will help evaluate recovery prospects for creditors and may influence the direction and outcome of Trinseo's restructuring process, according to Law360. About Trinseo PLC Trinseo PLC, headquartered in Wayne, Pa. -- https://www.trinseo.com/ -- is an international chemical and materials manufacturer specializing in plastics, latex binders, and synthetic rubber products. Its materials are used across industries such as automotive manufacturing, building and construction, electronics, and packaging, supporting a diversified industrial customer base worldwide. Trinseo PLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 26-90115) on May 20, 2026. In its petition, the Debtor reports estimated assets and liabilities between $1 billion and $10 billion each. The Honorable Bankruptcy Judge Alfredo R. Perez handles the case. Latham & Watkins LLP is serving as Trinseo's legal advisor in the restructuring, supported by co-counsel Hunton Andrews Kurth LLP. The company also retained Centerview Partners LLC as investment banker and FTI Consulting as financial and communications advisor. Ernst & Young LLP as tax auditor and tax accountant and Kroll Restructuring Administration LLC as claims agent. Paul Hastings LLP and PJT Partners advised the Senior Secured Lenders. Gibson, Dunn & Crutcher LLP and Howley Law PLLC represent the OpCo 2028 Ad Hoc Group of lenders. Lazard Freres & Co. also represents the group. Gray Reed and Pallas Partners (US) LLP represent the Ad Hoc Group of Excluded OpCo Term Lenders. Paul, Weiss, Rifkind, Wharton & Garrison LLP and Porter Hedges LLP represent an ad hoc group of holders of 7.625% Second Lien Senior Secured Notes due 2029. TRINSEO PLC: Paul Hastings Represents Ad Hoc Noteholders Group -------------------------------------------------------------- In the Chapter 11 bankruptcy cases of Trinseo PLC and its debtor-affiliates, Paul Hastings LLP filed with the United States Bankruptcy Court for the Southern District of Texas, Houston Division, a Verified Statement pursuant to Bankruptcy Rule 2019 to inform the Court that the firm represents the Ad Hoc Group of Senior Secured Creditors that hold: -- the Super HoldCo 1L Obligations as defined under the Credit Agreement dated Sept. 8, 2023 (as amended, restated, amended and restated, supplemented or otherwise modified from time to time) among Trinseo Luxco Finance SPV S.a.r.l., Trinseo PLC, Trinseo NA Finance LLC, Trinseo NA Finance SPV LLC, the other parties thereto; -- the OpCo 1L Obligations as defined under the Credit Agreement dated Jan. 17, 2025 (as amended, restated, amended and restated, supplemented or otherwise modified from time to time) among Trinseo Holding S.a.r.l., Trinseo LuxCo S.a.r.l., Trinseo Materials Finance, Inc., and other parties thereto; -- the Super HoldCo DIP Obligations as defined under the Senior Secured Super-Priority Debtor-In-Possession Credit Agreement (as amended, restated, supplemented, or otherwise modified from time to time) (the Super HoldCo Interim DIP Order); and -- the OpCo DIP Obligations as defined under the Senior Secured Super-Priority Debtor-In-Possession Credit Agreement (as amended, restated, supplemented, or otherwise modified from time to time) (the OpCo Interim DIP Order). According to the Ad Hoc Group's Verified Statement: 1. On Dec. 18, 2025, the Ad Hoc Group of Senior Secured Creditors retained Paul Hastings as counsel in connection with potential negotiations and transactions related to the Debtors. Each member of the Ad Hoc Group of Senior Secured Creditors has consented to Paul Hastings' representation. 2. Counsel represents only the members of the Ad Hoc Group of Senior Secured Creditors and does not represent or purport to represent any persons or entities other than the Ad Hoc Group of Senior Secured Creditors in connection with the Chapter 11 Cases. In addition, as of the date of this Verified Statement, the Ad Hoc Group of Senior Secured Creditors does not, either collectively or through its individual members, represent or purport to represent any other persons or entities in connection with the Chapter 11 Cases. 3. The information contained in this Verified Statement is intended only to comply with Bankruptcy Rule 2019 and is not intended for any other purpose. Nothing contained in this Verified Statement is intended to or should be construed as (i) a waiver or release of any claims against the Debtors or any other entity held by any member of the Ad Hoc Group of Senior Secured Creditors, (ii) an admission with respect to any fact or legal theory, or (iii) a limitation or waiver of any rights of any member of the Ad Hoc Group of Senior Secured Creditors, including, without limitation, the right to assert, file and/or amend any proof of claim in accordance with applicable law and any orders entered in these Chapter 11 Cases. 4. The information outlined is based upon information provided by the applicable members of the Ad Hoc Group of Senior Secured Creditors. Counsel does not make any representation regarding the validity, amount, allowance, or priority of such claims, and reserves all rights with respect thereto. Counsel does not own, nor have they ever owned, any claims against or interests in the Debtors, except for claims for services rendered to the Ad Hoc Group of Senior Secured Creditors. Counsel reserves the right to amend and/or supplement this Verified Statement in accordance with the requirements outlined in Bankruptcy Rule 2019. 5. Amounts listed represent the aggregate principal amount of the relevant obligations held by, or held by funds or accounts managed or advised by, the listed entities or their respective affiliates (including amounts received on account of put option premiums agreed to with the relevant loan parties and amounts that are subject to pending settlement and/or held via arrangements, participations, and/or swaps and after giving effect to the Interim Super HoldCo Roll-Up (as defined in the Super HoldCo Interim DIP Order) and the Interim OpCo Roll-Up (as defined in the OpCo Interim DIP Order)) solely to the extent such entities are members of the Ad Hoc Group of Senior Secured Creditors. Amounts listed do not include any claims for, without limitation, accrued and unpaid interest, expenses, make-wholes, indemnification, or other amounts that may be owing under any indenture, credit agreement, or other instrument. 6. The members of the Ad Hoc Group of Senior Secured Creditors are either the beneficial holders of, or the investment advisors or managers to, funds and/or accounts that hold disclosable economic interests in relation to the Debtors. The information outlined is based upon information provided by each member of the Ad Hoc Group of Senior Secured Creditors to Counsel and is subject to change. The names, addresses, and nature and amount of each disclosable economic interest in the Debtors held by each member of the Ad Hoc Group of Secured Creditors as of June 9, 2026, are: 1. Funds managed by Oaktree Capital Management, L.P. and/or its affiliates (excluding the US Senior Loan Strategy) 333 South Grand Avenue, 28th Floor Los Angeles, CA 90071 Nature and Principal Amount of Debt Holdings Super HoldCo 1L Obligations: $541,786,583.19 OpCo 1L Obligations: $121,326,148.22 Super HoldCo DIP Obligations: $49,626,190.25 OpCo DIP Obligations: $98,603,615.52 2. Funds managed by Angelo, Gordon & Co. L.P. and/or its affiliates 245 Park Avenue, 26th Floor New York, NY 10167 Nature and Principal Amount of Debt Holdings Super HoldCo 1L Obligations: $350,990,878.40 OpCo 1L Obligations: $78,670,586.35 Super HoldCo DIP Obligations: $32,149,818.17 OpCo DIP Obligations: $63,936,788.14 3. Funds managed by Apollo Capital Management, L.P. and/or its affiliates 9 West 57th Street, 41st Floor New York, NY 10019 Nature and Principal Amount of Debt Holdings Super HoldCo 1L Obligations: $138,204,414.10 OpCo 1L Obligations: $30,895,932.05 Super HoldCo DIP Obligations: $12,659,151.76 OpCo DIP Obligations: $25,109,596.34 Counsel to Ad Hoc Group of Senior Secured Creditors: Charles Persons, Esq. PAUL HASTINGS LLP 2001 Ross Avenue, Suite 2700 Dallas, TX 75201 Tel: (972) 936-7500 Fax: (972) 936-7501 Email: charlespersons@paulhastings.com - and - Schlea T. Masanz, Esq. PAUL HASTINGS LLP 609 Main Street, Suite 2500 Houston, TX 77002 Tel: (713) 860-7300 Fax: (713) 353-3100 E-mail: schleamasanz@paulhastings.com - and - Kristopher M. Hansen, Esq. Christopher M. Guhin, Esq. Matthew G. Garofalo, Esq. PAUL HASTINGS LLP 200 Park Avenue New York, NY 10166 Tel: (212) 318-6000 Fax: (212) 319-4090 E-mail: krishansen@paulhastings.com chrisguhin@paulhastings.com mattgarofalo@paulhastings.com - and - Jason M. Pierce, Esq. PAUL HASTINGS LLP 4655 Executive Drive, Suite 350 San Diego, CA 92121 Tel: (858) 458-3000 Fax: (858) 458-3005 E-mail: jasonpierce@paulhastings.com About Trinseo PLC Headquartered in Wayne, Pa., Trinseo PLC -- https://www.trinseo.com/ -- is an international chemical and materials manufacturer specializing in plastics, latex binders, and synthetic rubber products. Its materials are used across industries such as automotive manufacturing, building and construction, electronics, and packaging, supporting a diversified industrial customer base worldwide. Trinseo PLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Texas Case No. 26-90115) on May 20, 2026. The Debtors reported between $1 billion and $10 billion in estimated assets and liabilities. The Honorable Bankruptcy Judge Alfredo R. Perez handles the cases. Latham & Watkins LLP is serving as Trinseo's legal advisor in the restructuring, supported by co-counsel Hunton Andrews Kurth LLP. The company also retained Centerview Partners LLC as investment banker and FTI Consulting as financial and communications advisor. Ernst & Young LLP as tax auditor and tax accountant and Kroll Restructuring Administration LLC as claims agent. Paul Hastings LLP and PJT Partners advised the Ad Hoc Group of Senior Secured Creditors. Gibson, Dunn & Crutcher LLP and Howley Law PLLC represent the OpCo 2028 Ad Hoc Group of lenders. Lazard Freres & Co. also represents the group. Gray Reed and Pallas Partners (US) LLP represent the Ad Hoc Group of Excluded OpCo Term Lenders. Paul, Weiss, Rifkind, Wharton & Garrison LLP and Porter Hedges LLP represent an ad hoc group of holders of 7.625% Second Lien Senior Secured Notes due 2029. * * * Trinseo PLC, and affiliates filed with the Bankruptcy Court a Disclosure Statement for the Joint Prepackaged Plan of Reorganization dated May 26, 2026. Supporting Creditors have agreed to support the Restructuring Transactions, which will restructure the Debtors' approximately $2.9 billion funded debt obligations upon consummation thereof. As of the Petition Date, the Supporting Creditors collectively hold 100% of the aggregate outstanding principal amount of the RCF Claims, approximately 99.9% of the aggregate outstanding principal amount of the Super HoldCo 1L Claims, and approximately 86% of the aggregate outstanding principal amount of the OpCo Term Loan Claims (including approximately 57% of the OpCo 2028 Term Loans). The parties represent the requisite voting majorities under the Bankruptcy Code for Class 4 (RCF Claims), Class 5 (Super HoldCo 1L Claims), and Class 6 (OpCo Term Loan Claims). Class 8 consists of General Unsecured Claims and will receive a distribution of 100% of their allowed claims. This Class is unimpaired. TRIPLE RRR: Seeks Chapter 7 Bankruptcy in Texas ----------------------------------------------- On June 5, 2026, Triple RRR Carriers, Inc. filed for Chapter 7 protection in the U.S. Bankruptcy Court for the Southern District of Texas. According to court filings, the Debtor reports between $1 million and $10 million in debt owed to approximately 1–49 creditors. About Triple RRR Carriers, Inc. Triple RRR Carriers, Inc. is a transportation and trucking company engaged in freight hauling, logistics, and commercial carrier services. Triple RRR Carriers, Inc. sought relief under Chapter 7 of the U.S. Bankruptcy Code (Bankr. Case No. 26-50079) on June 5, 2026. In its petition, the Debtor reported estimated assets of $0–$100,000 and estimated liabilities of $1 million–$10 million. Honorable Bankruptcy Judge Jeffrey P. Norman handles the case. The Debtor is represented by Ruben E. Vasquez, Esq. of The Vasquez Law Firm. TROVE BREWING: Steven Nosek Named Subchapter V Trustee ------------------------------------------------------ The Acting U.S. Trustee for Region 12 appointed Steven Nosek as Subchapter V trustee for Trove Brewing, LLC. Mr. Nosek will be paid an hourly fee of $400 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Nosek declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Steven B. Nosek 10285 Yellow Circle Drive Hopkins, MN 55343 Email: snosek@noseklawfirm.com About Trove Brewing LLC Trove Brewing, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Minn. Case No. 26-31864) on June 3, 2026, with $50,001 to $100,000 in assets and $500,001 to $1 million in liabilities. Judge Katherine A. Constantine presides over the case. Mary Sieling, Esq. at Sieling Law, PLLC represents the Debtor as legal counsel. TWO FISH: Gets Interim OK to Use Cash Collateral ------------------------------------------------ Two Fish Partners, Inc. received interim approval from the U.S. Bankruptcy Court for the Middle District of Florida, Tampa Division, to use cash collateral. Under the interim order, the Debtor is authorized to use cash collateral to fund operations during the bankruptcy case based on a court-approved budget. This authorization remains in effect until further order of the court. WSFS Bank, the Debtor's primary secured creditor, claims a blanket lien on the Debtor's cash and inventory under a UCC-1 financing statement. The bank is owed approximately $4.28 million, secured by collateral valued at about $851,397, including $55,700 in cash and $795,696 in inventory and equipment. As adequate protection, WSFS Bank will receive automatically perfected post-petition replacement liens on cash collateral, with the same validity, extent, and priority as its pre-petition lien. Additional safeguards include insurance coverage, regular financial reporting, and access to business records and premises upon request. Under the interim order, customers, insurers, and other parties owing money to the Debtor are required to pay the Debtor directly regardless of any pre-petition payment instructions from merchant cash advance lenders. The interim relief is without prejudice to future requests for additional protection, restrictions on cash collateral use, or challenges to lien validity by a creditors' committee. The next hearing is scheduled for June 24. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/zo7hE from PacerMonitor.com. About Two Fish Partners Inc. Two Fish Partners, Inc., doing business as Urban Air Adventure Park, operates a trampoline and indoor adventure park in Fredericksburg, Virginia. The park offers ticketed open play, birthday party services, memberships, and attractions. The Fredericksburg location serves family recreation, kids' birthday parties, and special events. Two Fish Partners sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 26-04729) on June 1, 2026, with between $500,001 and $1 million in assets and between $10 million and $50 million in liabilities. Thomas Whitaker, president of Two Fish Partners, signed the petition. Buddy D. Ford, Esq., at Ford & Semach, P.A., represents the Debtor as legal counsel. TWO FISH: Seeks to Tap Ford & Semach as General Bankruptcy Counsel ------------------------------------------------------------------ Two Fish Partners, Inc. seeks approval from the U.S. Bankruptcy Court for the Middle District of Florida to employ Ford & Semach, PA as counsel. The firm's services include: (a) analyze the financial situation, and render advice and assistance to the Debtor in determining whether to file a petition under Title 11, United States Code; (b) advise the Debtor with regard to its powers and duties; (c) prepare and file the petition, schedules of assets and liabilities, statement of affairs, and other documents required by the Court; (d) represent the Debtor at the section 341 Creditors' meeting; (e) advise the Debtor with respect to its powers and duties in the continued operation of its business and management of its property; if appropriate; (f) advise the Debtor with respect to its responsibilities in complying with the United States Trustee's Operating Guidelines and Reporting Requirements and with the Rules of the Court; (g) prepare necessary legal papers and appear at hearings thereon; (h) protect the interest of the Debtor in all matters pending before the court; (i) represent the Debtor in negotiation with its creditors in the preparation of the Chapter 11 Plan; and (j) perform all other legal services for the Debtor which may be necessary herein. The firm will be paid at these hourly rates: Buddy Ford, Attorney $550 Jonathan Semach, Attorney $500 Paralegal $150 In addition, the firm will seek reimbursement for expenses incurred. Prior to the commencement of this case, the Debtor paid an advance fee of $30,000 from the Debtor. Mr. Ford disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Buddy D. Ford, Esq. Ford & Semach, PA 9301 West Hillsborough Avenue Tampa, FL 33615 Telephone: (813) 877-4669 Email: All@tampaesq.com About Two Fish Partners Inc. Two Fish Partners, Inc., doing business as Urban Air Adventure Park, operates a trampoline and indoor adventure park in Fredericksburg, Virginia. The park offers ticketed open play, birthday party services, memberships, and attractions including trampoline areas, bumper cars, laser tag, virtual reality, climbing walls, ropes courses, playground areas, dodgeball, and warrior-course activities. The Fredericksburg location serves family recreation, kids' birthday parties, and special events. Two Fish Partners sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 26-04729) on June 1, 2026. In the petition signed by Thomas Whitaker, president, the Debtor disclosed $851,396 in assets and $24,186,883 in liabilities. The Debtor tapped Buddy D. Ford, Esq., at Ford & Semach, PA as counsel. U.S. TELEPACIFIC: S&P Withdraws 'CCC-' Issuer Credit Rating ----------------------------------------------------------- S&P Global Ratings withdrew all of its ratings on U.S. TelePacific Holdings Corp.--including its 'CCC-' issuer credit rating--due to a lack of sufficient information. At the time of the withdrawal, the outlook was negative. VANTAGE GROUP: S&P Lowers LT ICR to 'BB' on Acquisition by Howard ----------------------------------------------------------------- S&P Global Ratings lowered its long-term issuer credit rating on Vantage Group Holdings Ltd. to 'BB' from 'BBB-' and its long-term issuer credit and financial strength ratings on its three core insurance operating subsidiaries--Vantage Risk Ltd., Vantage Risk Specialty Insurance Co., and Vantage Risk Assurance Co.--to 'BBB' from 'A-'. S&P removed the subsidiary ratings from CreditWatch negative. Subsequently, S&P withdrew the ratings on Vantage and its subsidiaries, per the company's request. At the time of the withdrawal, the outlook on the ratings was stable. The downgrade reflects that a lower-rated entity, Howard Hughes Holdings Inc. (HHH; BB+/Stable/--), has acquired Vantage. In addition to Vantage Group Holdings Ltd., HHH owns a highly leveraged real estate company, Howard Hughes Corp. This newly formed group, including Vantage Group Holdings Ltd., has a 'bb+' group credit profile. HHH, based in Houston, intends to become a diversified holdings company in the future. HHH is 47% owned by Pershing Square, and due to a broader services agreement between Pershing Square and HHH, Pershing Square will manage Vantage's investment portfolio. S&P said, "We view Vantage as a strategically important entity to HHH. For Vantage's three insurance operating companies, we apply two notches of insulation from HHH to our ratings on the subsidiaries. "Since initiating underwriting in 2021, Vantage has been growing, and we project stronger earnings through 2028. To expand its U.S. presence, Vantage acquired two Delaware-regulated shell insurance entities. Because we expect Vantage's U.S. specialty business to drive growth, we anticipate that the capital base in the U.S. will increase, supporting expansion and enhancing dividend capacity. "We expect the U.S. operating insurance entities to become a key source of cash flow for Vantage's nonoperating holding company (NOHC). Due to potential high regulatory restrictions on payment distributions from the company's U.S. operating insurance subsidiaries of the NOHC, we apply a three-notch rating differential between the 'BB' issuer credit rating on the NOHC and the 'BBB' financial strength ratings on the subsidiaries, similar to other insurance companies regulated in the U.S." The company's performance continued to be strong in first-quarter 2026, as Vantage keeps executing its strategy to grow in lines such as U.S. casualty, excess and primary casualty, and construction in insurance, as well as property quota share, marine, and energy within reinsurance. S&P expects Vantage to generate a strong combined ratio averaging 93% through 2028. As of year-end 2025, Vantage's capital adequacy was materially redundant at our 99.99% confidence level. The company has also improved its underwriting, delivering a combined ratio of 94.1% in 2025, compared with 97.7% in 2024. S&P said, "The stable outlook at the time of the withdrawal reflects our expectation that Vantage will maintain excellent capitalization redundant at our 99.99% confidence level through 2028, alongside continued improvements in operating performance. We expect management will remain focused on underwriting discipline while driving top-line growth without compromising profitability. "We could lower our ratings within the next 12-24 months if the group credit profile worsens. This would likely result in a negative rating action on HHH, which could result in a similar action on Vantage and its subsidiaries." An upgrade within the next 24 months is unlikely because S&P caps the ratings on Vantage two notches above the ratings on HHH. S&P could raise the ratings on Vantage if: -- The group credit profile improves, likely resulting in a positive rating action on HHH, or -- HHH completes another major acquisition and S&P view the new group as an investment holding company. VIATRIS INC: S&P Rates New Euro-Denominated Sr. Unsec. Notes 'BB+' ------------------------------------------------------------------ S&P Global Ratings assigned its 'BB+' issue-level rating and '3' recovery rating to Viatris Inc.'s proposed senior unsecured notes. The '3' recovery rating indicates S&P's expectation for meaningful (50%-70%; rounded estimate: 50%) recovery in the event of a payment default. S&P expect the company will use the proceeds to repay a portion of its upcoming maturities. S&P said, "Our 'BB+' issuer credit rating on Viatris reflects our expectation that revenue growth will continue to improve in 2026, primarily due to strong growth in China, stable generics growth in North America, and currency tailwinds. It also reflects our expectation that profitability and leverage will remain pressured through 2026 due to high one-time costs, causing leverage to remain above 3.5x. "However, we expect profitability and cash flow will improve beginning in 2027, which will give Viatris capacity to deleverage. The company's financial policy, as well as continued operational execution, will be deciding factors that determine how quickly it can reduce leverage below 3.5x." VIRGINIA PARK: Seeks to Hire Cascadia Capital as Investment Banker ------------------------------------------------------------------ Virginia Park 1, LLC and its affiliates seek approval from the U.S. Bankruptcy Court for the Eastern District of Michigan to employ Cascadia Capital, LLC as investment banker. The firm will render these services: (a) assist the Debtors in analyzing their business, operations, properties, financial conditions and prospects; (b) assist the Debtors in their analysis and consideration of financing alternatives; (c) prepare and distribute the Debtors' information in connection with a transaction; (d) identify and solicit potential acquirors, financing sources or partners for a transaction; (e) assist in the determination of the form, structure, terms, and pricing of a transaction; (f) assist the Debtors on tactics and strategies for negotiationg with potential counterparties and stakeholders, and if it requested, participate in such negotiations; (g) advise the Debtors on the timing, nature and terms of any new securities or other consideration and inducements to be offered pursuant to a transaction; (h) render financial advice to the Debtors and participate in meetings or negotiations with stakeholders and/or outside agencies or appropriate parties in connection with a transaction; (i) provide oral and written testimony, as necessary, with respect to matters on which Cascaia has been engaged to advise the Debtors in any proceedings before the Bankruptcy Court; and (j) provide other financial advisory services as may be mutually agreed by Cascadia and the Debtors. The firm will be paid at these following fees: (a) Initial Fee of $50,000; (b) Monthly Fees: (i) $50,000 per month which shall be earned an accrue on the first through fifth monlthy anniversary; and (ii) $75,000 per month which shall be earned and accrue on the sixth, seventh, and eighth monthly anniversary of the execution. (c) Financing Fees: (i) 3 percent for bank debt or first lien secured debt or DIP; (ii) 3 percent for debt junior to Senior Debt and is not an Equity-Linked Security; (iv) In the event any Financing is completed, the financing fee shall be not less than $100,000. (d) Sale Fee(s): (i) 8 percent of aggregate consideration between $0 and $5,000,000; plus (ii) 7 percent of aggregate consideration greater than $5,000,000 but lesss than $10,000,000; plus (iii) 6 percent of aggregate consideration greater than $10,000,000 but less than $25,000,000; plus (iv) 5 percent of aggregate consideration in excess of $25,000,000; (v) if, by June 29, 2026, the Debtors sign to pursue only a bid from URGE Group and terminate Cascadia's work on a Sale, Cascadia shall receive a fee of $225,000 upon the closing of the Excluded Bid; (vi) if a Sale terminatiom does not occur, the Sale Fee shall be reduced bu 30 eprcent unless Cascadia procures (i) a stalking horse bid from any aprty other than the Excluded Bid or (ii) a higher or better bid than the Excluded Bid; and (v) in the event a Sale is consummated, the Sale Fee shall not be less than $225,000. In addition, the firm will seek reimbursement for expenses incurred. Lorie Beers, a managing director and the head of Restructuring and Special Situations at Cascadia Capital, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Lorie Beers Cascadia Capital, LLC 920 5th Avenue, Suite 1500 Seattle, WA 98104 Telephone: (206) 436-2500 About Virginia Park 1 LLC Virginia Park 1 LLC provides real estate-related services, including property management and support activities, in connection with properties in Michigan. Virginia Park 1 LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Lead Case No. 25-11308) on June 10, 2025. In its petition, the Debtor reports estimated assets between $1 million and $10 million and estimated liabilities between $500,000 and $1 million. Bankruptcy Judge Martin Glenn handles the case. The Debtors tapped Glenn Agre Bergman & Fuentes LLP as bankruptcy counsel; Stevenson & Bullock, PLC, as local counsel; and Cascadia Capital, LLC as investment banker. WAIKOLOA VILLAGE: Taps Rountree Leitman Klein & Geer as Counsel --------------------------------------------------------------- Waikoloa Village Lofts West, LLC and its affiliates seek approval from the U.S. Bankruptcy Court for the Northern District of Georgia to employ Rountree, Leitman, Klein & Geer, LLC as counsel. The firm's services include: (a) advise the Debtors with respect to its powers and duties; (b) prepare on behalf of the Debtors necessary legal papers; (c) assist in examination of the claims of creditors; (d) assist with formulation and preparation of the disclosure statement and plan of reorganization and with the confirmation and consummation thereof; and (e) perform all other legal services for the Debtors that may be necessary herein. The firm will be paid at these hourly rates: William Rountree, Attorney $595 Will Geer, Attorney $595 Michael Bargar, Attorney $535 Hal Leitman, Attorney $425 David Klein, Attorney $495 Ceci Christy, Attorney $425 Elizabeth Childers, Attorney $395 Shawn Eisenberg, Attorney $300 Jonathan Clements, Attorney $445 Caitlyn Powers, Attorney $375 AnnaClaire Bowman, Attorney $375 Dorothy Sideris, Paralegal $200 Megan Winokur, Paralegal $175 Catherine Smith, Parlegal $150 Catherine Williams $150 Law Clerk $175 On May 14, 2026, the firm received a total security retainer of $363,022 from the Debtors. Mr. Rountree disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: William A. Rountree, Esq. Rountree, Leitman, Klein & Geer, LLC Century Plaza I 2987 Clairmont Road, Suite 350 Atlanta, GA 30329 Telephone: (404) 584-1238 Email: wrountree@rlkglaw.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. WILSON 1350: Seeks to Hire Landrau Rivera & Assoc. as Attorney -------------------------------------------------------------- Wilson 1350, LLC seeks approval from the U.S. Bankruptcy Court for the District of Puerto Rico to employ Landrau Rivera & Assoc. as attorney. The firm will provide these services: a. advise DIP with respect to its duties, powers and responsibilities in this case under the laws of the United States and Puerto Rico in which the debtor in possession conducts its business, or is involved in litigation; b. advise DIP in connection with a determination whether a reorganization is feasible and if not, aiding debtor in the orderly liquidation of its assets; c. assist DIP with respect to negotiation with creditors for the purpose of proposing a viable plan of reorganization; d. prepare on behalf of the DIP the necessary complaints, answers, orders, reports, memoranda of law and/or any other legal papers or documents; e. appear before the Bankruptcy Court, or any court in which DIP asserts a claim interest or defense directly or indirectly related to this bankruptcy case; f. perform such other legal services for DIP as may be required in this proceedings or in connection with the operation of/and involvement with debtor's business, including but not limited to notarial services; g. employ other professional services as necessary to complete debtor's financial reorganization with Chapter 11 of the Bankruptcy Code. The firm will be paid at these rates: Noemi Landrau Rivera, Esq. $250 per hour Legal and Financial Assistants $75 per hour The firm received an agreed retainer in the amount of $20,000. In addition, the firm will seek reimbursement for its out-of-pocket expenses. Noemi Landrau Rivera, Esq., disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Noemi Landrau Rivera, Esq. Landrau Rivera & Assoc. P.O. Box 270219 San Juan, PR 00928 Telephone: (787) 774-0224 Facsimile: (787) 919-7713 Email: nlandrau@landraulaw.com About Wilson 1350 LLC Wilson 1350 LLC is a San Juan, Puerto Rico- based company engaged in residential real estate development. Wilson 1350 LLC sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.PR Case No. 26-02372) on May 27, 2026. In its petition, the Debtor reports estimated assets between $10 million to $50 million and estimated liabilities between $1 million to $10 million. The Debtor is represented by Noemi Landrau Rivera, Esq. of LANDRAU RIVERA & ASSOC. WKH LLC: Voluntary Chapter 11 Case Summary ------------------------------------------ Debtor: WKH, LLC 209 Goodwood Gardens Baltimore, MD 21210 Business Description: WKH, L.L.C. owns the real property at 700 Connolly Farms Road in Fallston, Maryland. Chapter 11 Petition Date: June 4, 2026 Court: United States Bankruptcy Court District of Maryland, Baltimore Division Case No.: 26-15951 Debtor's Counsel: Gary Poretsky, Esq. THE LAW OFFICES OF GARY S PORETSKY LLC 6 Church Lane Pikesville, MD 21208 Tel: (443) 738-5432 Email: gary@plgmd.com Total Assets: $2,305,720 Total Liabilities: $1,853,560 The petition was signed by Mary Frey as managing member. The Debtor has declared in the petition that it has no unsecured creditors. A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/RWWAVJI/WKH_LLC__mdbke-26-15951__0001.0.pdf?mcid=tGE4TAMA WORLD CLASS ACADEMY-VERO: Seeks Chapter 11 Bankruptcy in Florida ---------------------------------------------------------------- On June 8, 2026, World Class Academy-Vero Beach, LLC filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Southern District of Florida. According to court filings, the Debtor reports between $1 million and $10 million in debt owed to approximately 1–49 creditors. A meeting of creditors under Section 341(a) to be held on July 13, 2026 at 08:30 AM by TELEPHONE. About World Class Academy-Vero Beach, LLC World Class Academy-Vero Beach, LLC operates in the education sector and is associated with the management and operation of academic programs and educational services. World Class Academy-Vero Beach, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-17446) on June 8, 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 Julianne R. Frank. ZION OIL & GAS: All Management Proposals OK'd at Annual Meeting --------------------------------------------------------------- Zion Oil & Gas, Inc. held its 2026 Annual Meeting of Stockholders at 12222 Merit Drive, Suite 1740, Dallas, Texas 75251 and by virtual Zoom Webinar. As of April 6, 2026, the record date for the 2026 Annual Meeting, there were 1,182,750,591 shares of common stock issued and outstanding. A quorum of common stockholders, present in person or by proxy, representing 683,559,582 shares of common stock was present at the 2026 Annual Meeting. The final voting results of the 2026 Annual Meeting are set forth: 1. Proposal to elect Class III Directors to serve until the 2029 Annual Meeting of Stockholders. The Company's common stockholders elected each of the Company's four nominees for Class III Directors to serve a term of three years to expire at the 2029 Annual Meeting of stockholders or until their respective successors are duly elected and qualified, as set forth: a. Paul Oroian * Votes For: 355,826,976 * Votes Against: 9,961,164 * Votes Abstain: 12,034,181 * Broker Non-Votes: 305,737,260 b. Virginia Prodan * Votes For: 351,745,995 * Votes Against: 11,075,902 * Votes Abstain: 15,000,424 * Broker Non-Votes: 305,737,260 c. Pandji Putra * Votes For: 352,756,010 * Votes Against: 10,202,936 * Votes Abstain: 14,863,374 * Broker Non-Votes: 305,737,260 d. Robert Dunn * Votes For: 360,396,461 * Votes Against: 9,030,434 * Votes Abstain: 8,395,426 * Broker Non-Votes: 305,737,260 2. Proposal to ratify the appointment of RBSM, LLP. as the Company's auditors for the year ending December 31, 2026. The Company's common stockholders ratified the appointment of RBSM, LLP., as the Company's auditors for the year ending December 31, 2026, as follows: * Votes For: 655,214,993 * Votes Against: 8,615,744 * Votes Abstain: 19,728,844 * Broker Non-Votes: 0 3. Proposal to approve, in a nonbinding advisory vote, compensation of the Company's Named Executive Officers. The Company's common stockholders approved in a nonbinding advisory vote, compensation of the Company's Named Executive Officers set forth: * Votes For: 343,174,923 * Votes Against: 16,190,588 * Votes Abstain: 18,456,810 * Broker Non-Votes: 305,737,260 4. Proposal to approve, in a nonbinding advisory vote, the frequency of future nonbinding advisory votes on the compensation of the Company's Named Executive Officers. The Company's common stockholders approved 3 years as the frequency of shareholder nonbinding advisory votes on the compensation of its named executive officers as stated in the number of votes cast for each of 1 year, 2 years, and 3 years, as well as the number of abstentions as set forth: * Votes For 3 Years: 289,022,093 * Votes For 2 Years: 11,157,350 * Votes For 1 Year: 59,626,159 * Abstain: 18,016,718 About Zion Oil Headquartered in Dallas, Texas, Zion Oil and Gas, Inc. -- http://www.zionoil.com/-- is an oil and gas exploration company dedicated to exploring for oil and gas onshore in Israel under its Megiddo Valleys License 434 which covers approximately 75,000 acres. Las Vegas, Nevada-based RBSM LLP, the Company's auditor since 2018, issued a "going concern" qualification in its report dated March 19, 2026, attached to the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2025, citing that the Company has suffered recurring losses from operations and had an accumulated deficit that raises substantial doubt about its ability to continue as a going concern. As of March 31, 2026, the Company had $52.58 million in total assets, $4.14 million in total liabilities, and $48.44 million in total stockholders' equity. ********* 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. 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