260618.mbx

260618.mbx T R O U B L E D C O M P A N Y R E P O R T E R Thursday, June 18, 2026, Vol. 30, No. 169 Headlines 250 WYNAH: Gets Another Extension to Use Cash Collateral 26 YATES: Unsecured Creditors to Split $33.3K Over 5 Years 309 NORTH: Samuel Dawidowicz Named Subchapter V Trustee 3229 S. HARLEM: Hires ROA Realty of America as Real Estate Broker 4US CORP: Plan Exclusivity Period Extended to July 13 527 HOLDINGS: Kathleen DiSanto Named Subchapter V Trustee 700 17TH STREET: Court Denies Confirmation of First Amended Plan 9 LAKE REGION: Hires Robert S. Lewis PC to Serve as Legal Counsel A&A DEMO: Seeks Approval to Hire Lonnemann CPA as Accountant AA GLASS: Seeks Cash Collateral Access ADVANCED REHABILITATION: Gets Extension to Access Cash Collateral AIR INDUSTRIES: Amends Tenax Aerospace Merger Agreement ALGOMA STEEL: S&P Alters Outlook to Stable, Affirms 'CCC+' ICR ALLSTAR PROPERTIES: Wins Bid for Rejection of Real Property Lease ALTAMAHA D.M.E.: Wins Final Approval to Use Cash Collateral ARCHBISHOP OF BALTIMORE: Updates Joint Plan Disclosures ARCHER MOTORSPORTS: Gets Final OK to Use Cash Collateral ARRIVE AI: Sets $15 Million ATM Offering ARTELLA SOLUTIONS: Gets Extension to Access Cash Collateral ARTM2: Seeks Approval to Tap Law Office of Andrews Cho as Counsel ASHWOOD FOOD: Gets Interim OK to Use Cash Collateral ASHWOOD FOOD: Seeks Approval to Hire Medaglia & Co. as Accountant ATA 2025: Employs Sherrard Roe Voigt & Harbison as Counsel AVENGER FLIGHT: Seeks to Extend Plan Exclusivity to Sept. 10 AVENTIV TECHNOLOGIES: S&P Downgrades ICR to 'CC', Outlook Negative BABCOCK & WILCOX: PES Products-Liability Claims Not Discharged BACHTEL ELECTRIC: Seeks Approval to Hire Neeleman Law as Counsel BASIC ENERGY: Court Narrows Claims in First, et al. Adversary Case BAYLIE'S SQUARE: Seeks Approval to Tap Bleakley Bavol as Counsel BEASLEY BROADCAST: Sets $5.24 Million ATM Offering BLACKBEARD'S TRIPLE: Gets Extension to Access Cash Collateral BOBBY DEE: Court OKs Deal to Use FFB Bank's Cash Collateral BRD LAND: Gets Interim OK to Use Cash Collateral Until July 31 BREASHEARS ROOFING: Mark Dennis Named Subchapter V Trustee BTB PIZZA: Paul Levine Named Subchapter V Trustee BW GAS: S&P Alters Outlook to Positive, Affirms 'B' ICR CALIFORNIA RESOURCES: S&P Rates New Senior Unsecured Notes 'BB-' CAROLINA EARTHWERX: Hires Law Offices of George Oliver as Counsel CASPIAN INDUSTRIAL: Edward Burr Named Subchapter V Trustee CHEESE SHOP: Gets Interim OK to Use Cash Collateral CHS FL: Seeks Court Approval to Hire Polsinelli as Legal Counsel CN HOLDINGS: Seeks Cash Collateral Access COW CREEK: Ongoing Operations to Fund Plan Payments CPI HOLDCO: S&P Alters Outlook to Negative, Affirms 'B' ICR CRYSTAL CARDENAS: Linda Leali Named Subchapter V Trustee CUSTOM PET: Carol Fox of GlassRatner Named Subchapter V Trustee CUSTOM PET: Taps Paragon Law LLC as Legal Counsel CUSTOM PET: To Hire Young Foster PLLC as Special Litigation Counsel CYTOPHIL INC: Court Overrules HPA's Objection to Jannson Claim DOCKSIDE ASSOCIATION: Gets Extension to Access Cash Collateral DS PARENT: S&P Alters Outlook to Negative, Affirms 'B' ICR DYNASTY ACQUISITION: S&P Upgrades ICR to 'BB', Outlook Stable EGGSTRODINARY RESTAURANTS: Seeks to Tap Singh CPA as Accountant EQUIPMENTSHARE.COM INC: Fitch Assigns 'BB-' IDR, Outlook Stable EQUIPMENTSHARE.COM INC: S&P Rates Sr. Sec. Second-Lien Notes 'B' EVENTIDE CREDIT: Chapter 11 Trustee Appointment Sought FIREHOUSE GRILL: Plan Exclusivity Period Extended to Aug. 24 FORM LOS ANGELES: Gets Final OK to Use Cash Collateral FUEL FITNESS: Gets Extension to Access Cash Collateral FUEL HOMESTEAD: Gets Extension to Access Cash Collateral FUEL REYNOLDA: Gets Extension to Access Cash Collateral GAIA LLMH: S&P Assigns 'B' ICR on LBO Take Private Transaction GALINDO EMPIRE: Melissa Haselden Named Subchapter V Trustee GATES ENTERPRISES: Seeks Approval to Tap SL Biggs as Accountant GENERIC MANUFACTURING: Seeks Continued Cash Collateral Access HARDCORE CONCRETE: Amy Denton Mayer Named Subchapter V Trustee HARLOW ENTERPRISES: Seeks to Extend Plan Exclusivity to July 8 HARVEST SHERWOOD: Wins Bid to Limit Keith Bierman's Expert Opinions HEAL BY TOUCH: Ruediger Mueller of TCMI Named Subchapter V Trustee HIDALGO GROUP: Seeks to Employ Taveras Legal as Litigation Counsel HIDALGO GROUP: Taps Cowheard Singer for Accounting Services HIDDEN VALLEY: Trustee Taps Burr & Forman LLP as Bankruptcy Counsel HIGHLAND CAPITAL: Dugaboy Investment Trust's Rule 60 Motion Tossed HYBAR LLC: S&P Rates Proposed $400MM Senior Secured Notes 'B-' IHOUSE REALTY: Unsecureds to Get .53 Cents on Dollar in Plan INOTIV INC: Case Summary & 30 Largest Unsecured Creditors JEWELRY DESIGNER: Court OKs Final Deal to Use Cash Collateral JMAY REALTY: Employs Christina Herrera as Real Estate Broker KEY POINT: Stanley Bond Named Subchapter V Trustee LASEN INC: Affiliate Gets Extension to Access Cash Collateral LIGHTHOUSE COMMUNITY: Gets Final OK to Use Cash Collateral LMD HOLDINGS: Court OKs DIP Loan Increase LOTUS TECHNOLOGY: To Suspend Some 2026 Earnings Releases MARAVAI TOPCO: S&P Withdraws 'B-' Issuer Credit Rating MILNER SPORTS: Employs Integrity Accounting as Accountants MOUNTAIN REGIONAL: Seeks to Extend Plan Exclusivity to July 16 NAVAJO SMILES: Gets Interim OK to Use Cash Collateral NAVELLIER & ASSOCIATES: Claims to be Paid from Ongoing Operations NBG MACHINE: Seeks Approval to Hire Milton Flores as Appraiser NETCAPITAL INC: Issues $182,120 Note to Vanquish Funding NETCAPITAL INC: Secures $145,000 Convertible Note from Labrys NORTHSTAR HOLDINGS: Files Amendment to Disclosure Statement NRPF GROUP: Court Says Master Lease with SCF Severable NXT ENERGY: Shareholders Approve Key Resolutions at Annual Meeting PALMDALE HEALTH: Seeks Court Approval to Hire RHM Law as Counsel PEGGY NESTOR: Court Dismisses Two Adversary Proceedings PETER F. DIPAOLO: Seeks to Hire Jeff R Pearlman CPA as Accountant PLATINUM EXPRESS: Taps S&S Tax and Accounting as Accountant PLAZA CONTINENTAL: Taps Grobstein Teeple as Support Representative PLEASANT HEIGHTS: Hires Scott J. Goldstein as Bankruptcy Counsel PREMIUM EDGE: Gets Interim OK to Use Cash Collateral PRINCE GLOBAL: Court Grants Chapter 15 Recognition PRO RACKING: Seeks Continued Cash Collateral Access PROVIDENT COMMONWEALTH: S&P Affirms 'BB' Rating on 2018 Rev. Bonds R.V. MULLENS: Lender Seeks to Prohibit Cash Collateral Access REYNA HOSPITALITY: Court Extends Cash Collateral Access to July 6 ROGUEFOX ENTERTAINMENT: Seeks to Tap Kit J. Gardner as Counsel ROGUEFOX ENTERTAINMENT: Taps Williams & Connolly as Counsel RRD PARENT: S&P Rates New $928MM Perpetual Preferred Stock 'CCC' SCOTTS MIRACLE-GRO: S&P Upgrades ICR to 'BB-', Outlook Stable SEASCAPE AQUARIUM: Daniel Etlinger Named Subchapter V Trustee SOCIETY PASS: Seeks Approval to Retain Schwartz PLLC as Counsel SOCIETY PASS: To Retain BiggsKofford Advisors as Tax Preparer STARDOM CONSTRUCTION: Taps Thomas R. Willson as Legal Counsel SYP - NORTHWEST: Gets Final OK to Use Cash Collateral TALEN ENERGY: S&P Affirms 'BB-' ICR, Outlook Stable TAM BOYTHE: Seeks to Tap Neeleman Law Group as Legal Counsel TEGA MC: S&P Assigns Final 'B-' Issuer Credit Rating; Outlook Pos. UGA STREET: Hires The Serralles Group as Real Estate Broker VALOR CLUB: Case Summary & 15 Unsecured Creditors WAG & BONE: Seeks Approval to Hire Kamini Fox as Legal Counsel WEBSTER ETC: Seeks to Extend Plan Exclusivity to Aug. 8 WESTERN GLOBAL: Wins Bid to Dismiss "Woods" Discrimination Lawsuit WILFONG HOSPITALITY: To Hire Black Diamond Realty as Broker WKH LLC: Taps The Law Offices of Gary S. Poretsky LLC as Counsel WWEX UNI: S&P Withdraws 'B-' ICR After Acquisition by Thoma Bravo XEROX HOLDINGS: S&P Upgrades ICR to 'CCC+', Outlook Negative [] S&P Takes Various Actions on 29 Classes From 7 U.S. CLO Deals [^] Recent Small-Dollar & Individual Chapter 11 Filings ********* 250 WYNAH: Gets Another Extension to Use Cash Collateral -------------------------------------------------------- The U.S. Bankruptcy Court, Northern District of Illinois, Eastern Division issued an order authorizing 250 Wynah Lane, LLC to use cash collateral pending a further hearing on July 31. The Debtor's right to use the cash collateral of its lenders continues under the terms of the initial order entered on June 23 until further order of the court. The order builds on prior rulings, including the June and November cash collateral orders, which previously authorized the Debtor's use of the lender's cash collateral. Until further court order, the Debtor may continue using cash collateral under the same terms and conditions set forth in the June cash collateral order. The authorization remains in effect unless terminated or modified by the Court in accordance with that earlier order. A copy of the court's order and the Debtor's budget is available at https://sl1nk.com/fak435m from PacerMonitor.com. About 250 Wynah Lane LLC 250 Wynah Lane, LLC is a single-asset real estate debtor, as defined in 11 U.S.C. Section 101(51B). 250 Wynah Lane sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 25-07414) on May 14, 2025. In its petition, the Debtor reported estimated assets and liabilities between $1 million and $10 million. Honorable Bankruptcy Judge Deborah L. Thorne handles the case. Matthew T. Gensburg, Esq., at Gensburg Calandriello & Kanter, P.C. is the Debtor's legal counsel. World Business Lenders, as lender, is represented by: Stephanie Mulcahy, Esq. Hinshaw & Culbertson, LLP 151 N. Franklin, Suite 2500 Chicago, IL 60606 Telephone: 312-704-3220 smulcahy@hinshawlaw.com Cape Cod Five Cents Savings Bank, as lender, is represented by: Sean P. Williams, Esq. Levenfeld Pearlstein, LLC 120 S. Riverside, Suite 1800 Chicago, IL 60606 Telephone: (312) 346-8380 swilliams@lplegal.com 26 YATES: Unsecured Creditors to Split $33.3K Over 5 Years ---------------------------------------------------------- 26 Yates LLC filed with the U.S. Bankruptcy Court for the District of New Jersey an Original Disclosure Statement describing Plan of Reorganization dated June 5, 2026. The Debtor is in the business of owning and managing real estate. It owns properties located at 26-28 Yates Avenue, Newark, New Jersey 07112 and 78-80 Huntington Terrace, Newark, New Jersey 07112. The property on Yates Avenue is 2,776 square feet. The Huntington property is 3,508 square feet. Both are residential properties. The Yates property has two apartments. The Huntington property has three apartments. The apartments are vacant. The Debtor has been in this business since 2019. The filing was due to the fact that the properties owned by the debtor were not generating income because the units were vacant. They were vacant because the physical condition of the properties was such as to render them not rentable. Debtor did not have the funds to upgrade or renovate the apartments. Debtor was seeking an investor to help renovate the property and payment of the mortgage. As a result, Debtor was unable to pay the mortgage and a foreclosure action was brought in the New Jersey Superior Court. This resulted in a Judgment of Foreclosure and the scheduling of a Sheriff's Sale. The latter event was the immediate cause of the Chapter 11 filing. The Debtor has sought to obtain an investor or investors who will inject funds to be used to pay the creditors and renovate the properties. King Restoration LLC is prepared pay creditors on a "cramdown" basis, as detailed in the Plan and will make capital contributions to upgrade the properties. In exchange, King will receive a 75% interest in Debtor. This is a reorganizing plan. In other words, the Proponent seeks to accomplish payment under the plan by receiving funds from an investor, which will pay the sums to be paid to the creditors pursuant to this plan. Class 2 consists of General Unsecured Claims. The allowed unsecured claims total $665,100.00. This Class shall receive a quarterly payment of $1,662.75 over five years with 5% interest. This Class will receive a distribution of $33,255.00. This Class is impaired. The Plan will be funded by the following: King Restoration LLC, a New Jersey limited liability company will pay all sums for creditors in exchange for a 75% interest in the Debtor. A full-text copy of the Disclosure Statement dated June 5, 2026 is available at https://urlcurt.com/u?l=mpvViI from PacerMonitor.com at no charge. Counsel to the Debtor: Solomon Rosengarten, Esq. 2329 Nostrand Avenue, Suite 100 Brooklyn, NY 11210 Telephone: (718) 627-4460 Email: vokma@aol.com About 26 Yates LLC 26 Yates LLC leases residential and commercial real estate properties. 26 Yates LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.N.J. Case No. 25-16592) on June 23, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. The Debtor is represented by Solomon Rosengarten, Esq. 309 NORTH: Samuel Dawidowicz Named Subchapter V Trustee ------------------------------------------------------- The U.S. Trustee for Region 2 appointed Samuel Dawidowicz as Subchapter V trustee for 309 North Avenue, LLC. Mr. Dawidowicz will be paid an hourly fee of $595 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Dawidowicz declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Samuel Dawidowicz 215 East 68th Street New York, NY 10065 Phone: (917) 679-0382 About 309 North Avenue LLC 309 North Avenue, LLC is a real estate holding and property management company engaged in the ownership, leasing, and operation of real estate assets. 309 North Avenue sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Case No. 26-22564) on June 3, 2026. In its petition, the Debtor reported assets of up to $100,000 and liabilities of between $500,001 and $1 million. The Honorable Bankruptcy Judge Sean H. Lane handles the case. 3229 S. HARLEM: Hires ROA Realty of America as Real Estate Broker ----------------------------------------------------------------- 3229 S. Harlem, Inc. seeks approval from the U.S. Bankruptcy Court for the Northern District of Illinois to hire Vanessa Bui, Alvaro Espinoza and ROA Realty of America as real estate brokers. The brokers will market and sell the Debtor's property located at 3229-37 South Harlem Avenue, Berwyn, Illinois 60402. The brokers will be paid a commission equal to 6 percent of the gross sales price of the real property payable at the successful consummation of the sale. As disclosed in the court filings, the brokers are disinterested within the meaning of 11 U.S.C. Secs. 101(14) and 327. The brokers can be reached through: Vanessa Bui Alvaro Espinoza ROA Realty of America 6507 Cermak Rd. Berwyn, IL 60402 About 3229 S. Harlem, Inc. 3229 S. Harlem, Inc. is a single asset real estate company. 3229 S. Harlem, Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 26-08429) on May 14, 2026. In its petition, the Debtor reports estimated assets between $1 million and $10 million and estimated liabilities between $1 million and $10 million. Honorable Bankruptcy Judge David D. Cleary handles the case. The Debtor is represented by Ariel Weissberg, Esq. of Weissberg and Associates, Ltd. 4US CORP: Plan Exclusivity Period Extended to July 13 ----------------------------------------------------- Judge Timothy A. Barnes of the U.S. Bankruptcy Court for the Northern District of Illinois extended 4US Corp Inc.'s exclusive periods to file a plan of reorganization and obtain acceptance thereof to July 13 and Sept. 14, 2026, respectively. In a court filing, the Debtor has worked diligently with the secured parties with respect to adequate protection payments. The Debtor explains that the deadline for the company to exclusively file a plan of reorganization in this case is June 2, 2026. The Debtor is working with its financial advisor and legal counsel to prepare a plan in this case. Due to the number of secured parties, the Debtor requires additional time to finalize the Plan and related financial projections and documents. This is the Debtor's first request to extend exclusivity. In addition, there is currently no bar date set in this case. The Debtor is requesting by separate motion that a bar date be set for August 7, 2026. The Debtor claims that given the number of secured parties and volume of collateral, cause exists for this Court to enter an Order extending the company's exclusive right to file a plan and disclosure statement and solicit acceptances for the plan. 4US Corp Inc. is represented by: Miriam Stein Granek, Esq. Gutnicki LLP 4711 Golf Road, Suite 200 Skokie, IL 60076 Telephone: (847) 745-6592 Email: mgranek@gutnicki.com About 4US Corp Inc. 4US Corp, Inc. operates as a transportation and logistics company, providing freight hauling services through ownership of commercial trucks and trailers, including Freightliner trucks and Wabash, Dorsey, Mac, Fontaine, Hyundai, and Eagle trailers. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 26-01936) on Feb. 2, 2026. In the petition signed by Eli Malikovsky, president, the Debtor disclosed $3,118,000 in total assets and $9,253,165 in total liabilities. Judge Timothy A. Barnes oversees the case. The Debtor tapped David Freydin, Esq., at the Law Offices of David Freydin and Miriam Stein Granek, Esq., at Gutnicki LLP as counsel. 527 HOLDINGS: 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 527 Holdings Group, 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 527 Holdings Group LLC 527 Holdings Group, LLC is a Destin, Florida-based limited liability company, which 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. It was formed in 2018. 527 Holdings Group filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. N.D. Fla. Case No. 26-30608) on June 8, 2026, with assets of up to $50,000 and liabilities of between $1 million and $10 million. Shiraz Ali Hosein, Esq., at Anchors Smith Grimsley represents the Debtor as legal counsel. 700 17TH STREET: Court Denies Confirmation of First Amended Plan ---------------------------------------------------------------- Judge Kimberley H. Tyson of the U.S. Bankruptcy Court for the District of Colorado denied confirmation of 700 17th Street, LLC's First Amended Plan of Reorganization. The motion for relief from the automatic stay or, in the alternative, for dismissal of the Debtor's bankruptcy case filed by Wilmington Trust National Association, as Trustee for the registered holders of JPMCC Mortgage Securities Trust 2016-JP2, Commercial Mortgage Pass-Through Certificates, Series 2016-JP2 ("Lender") is granted. Kenneth Grant ("Mr. Grant") is a Norwegian investor who has long been involved with Denver's commercial real estate industry. He and companies with which he has been affiliated have bought, sold, and managed many properties in Denver and surrounding areas over the past several decades. Companies affiliated with Mr. Grant include Debtor; Toma West Management Corp. ("Toma West"), a property management company; and Orchard Falls Operating Company, LLC ("Orchard Falls"), a debtor in case number 25-16047 TBM. Debtor, a single-asset real estate entity, owns real property and improvements including a high-rise commercial office building located at 700 17th Street, Denver, Colorado 80202 (the "Property"). Debtor purchased the Property in 2016 for $32,000,000. To finance the purchase, Debtor borrowed $21,000,000 (the "Loan"), as set forth in a Loan Agreement and a Promissory Note (the "Note"), secured by a Deed of Trust and Security Agreement on the Property. Lender is the current holder of the Note. For several years, Toma West managed the Property, and Debtor performed in accordance with the terms of the Loan. In late 2023, with the Maturity Date approaching, Debtor hoped to be able to refinance the Loan, but no such agreement was accomplished. Mr. Grant testified Debtor was unwilling to continue making Loan payments without some agreement in place. Debtor made its last Loan payment in December 2023. In 2024, Lender declared the Loan in default and retained LNR Partners, LLC, as special servicer. On July 11, 2024, Lender sought appointment of a receiver in Denver District Court, Case No. 2024CV32100. On July 26, 2024, the Denver District Court appointed Transwestern Property Company SW GP, L.L.C. ("Transwestern") as Receiver for the Property. Since that time, Transwestern has been managing the Property, in conjunction with Toma West. Lender also began foreclosure proceedings in the City and County of Denver. In response to Lender's foreclosure proceedings, Debtor filed its voluntary Chapter 11 petition on September 24, 2025, designating itself as a Single Asset Real Estate Debtor under 11 U.S.C. Sec. 101(51B). By the time Debtor filed its bankruptcy petition, office values in downtown Denver had decreased substantially since 2016, anywhere from 10-25% for some buildings, with some older commercial skyscrapers selling for 90% below 2019 value. The Parties stipulate the current value of the Property is $6,000,000.00. Transwestern continues to operate and manage the Property, which has an occupancy rate between 40 and 45% and generates approximately $172,000 in gross rental income per month. The Property has lost approximately $50,000 each month, which Lender has been covering. On December 23, exactly 90 days after Debtor's bankruptcy filing, Debtor filed its Chapter 11 Plan of Reorganization (the "First Plan"). The First Plan placed Lender's secured claim in Class One, to be paid by a $6 million promissory note amortized over 30 years, with a monthly payment of $35,973.03. The First Plan placed Lender's unsecured claim in Class Two and Debtor's other unsecured creditors in Class Three. The First Plan provided for one payment of $300,000 to be divided pro rata to claims in Class Two and to Class Three. The First Plan provided Mr. Grant (through a company) would make a $500,000 contribution on the effective date and make an additional contribution of $3,045,756 over the term of the First Plan. Lender filed an Objection to the Disclosure Statement accompanying the First Plan, and it also filed its Motion for Relief from the Automatic Stay or, in the alternative, for Dismissal of the Debtor's Bankruptcy Case (the "Stay Relief Motion"), relying on 11 U.S.C. Secs. 362(d) and 1112(b). Debtor filed an objection to the Stay Relief Motion. Lender also filed an election under 11 U.S.C. Sec. 1111(b), as a result of which Lender's claim was treated as fully secured. On March 16, Debtor filed its First Amended Plan of Reorganization (the "Amended Plan"). Under the Amended Plan, Debtor proposed to pay monthly installments of $48,215.49 to Lender over 30 years, with a balloon payment of $5,985,091 at the end of the term. The aggregate amount of the monthly payments (totaling $17,357,576.40), plus the balloon payment of $5,950,745.07, equals $23,308,321.47. The present value of the monthly payments is $6,895,664, and the present value of the balloon payment is $679,700. These amounts together total $7,575,364, which is more than the Property's current fair market value of $6,000,000. The Amended Plan provided Lender would retain its first-priority, perfected, secured Liens until payment of the full amount of its claim. The Amended Plan further provided Mr. Grant (through a company) would make a $500,000 contribution on the effective date and make an additional contribution of $3,045,756 over the term of the Amended Plan. The Lender argues the Amended Plan is not feasible. As an initial matter, Lender urges the Court to hold the Amended Plan infeasible as a matter of law, given the length of the proposed term. The Court cannot find Debtor has shown the Amended Plan offers a reasonable prospect of success or is workable through 2030, much less throughout the 30-year plan term. Debtor has not met its burden. Debtor's best-case scenario requires active and extended participation from Mr. Grant, who admitted he will "not be here" for the full 30-year plan term. He testified his son may step in, and he may bring in a partner, but he did not identify which son, nor did he identify any potential partner. Without a showing Debtor will continue to be managed by experienced, committed businesspersons, the Court cannot find Debtor is likely to perform its obligations over the term of the Amended Plan. Because Debtor did not make the monthly payments required by Sec. 362(d)(3)(B), it was required to show it had filed a plan of reorganization that had a reasonable possibility of being confirmed within a reasonable time. Debtor did not meet that burden. Its First Plan was patently unconfirmable, and its Amended Plan is not confirmable. Thus, "stay relief is mandatory. The Court finds Debtor has not met its burden of satisfying each requirement of Sec. 1129(a). Specifically, Debtor has not satisfied Sec. 1129(a)(11). Debtor's Amended Plan cannot be confirmed. And, because Debtor did not satisfy the requirements of sec. 362(d)(3), relief from stay is appropriately granted. A copy of the Court's Findings of Fact and Conclusions of Law dated June 2, 2026, is available at https://urlcurt.com/u?l=Yws1xf from PacerMonitor.com. About 700 17th Street, LLC 700 17th Street LLC is a single asset real estate company in Denver, Colo. 700 17th Street sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Colo. Case. No. 25-16173) on Sept. 24, 2025. In its petition, the Debtor reports estimated assets between $1 million and $10 million and estimated liabilities between $10 million and $50 million. Bankruptcy Judge Kimberley H. Tyson handles the case. The Debtor tapped Jeffrey A. Weinman, Esq., at Michael Best & Friedrich, LLP as legal counsel. Gregoy Garvin, Acting U.S. Trustee for Region 19, appointed an official committee to represent unsecured creditors in the Debtor's Chapter 11 case. 9 LAKE REGION: Hires Robert S. Lewis PC to Serve as Legal Counsel ----------------------------------------------------------------- 9 Lake Region Blvd LLC seeks approval from the U.S. Bankruptcy Court for the Southern District of New York to hire Robert S. Lewis, PC to serve as its counsel. The firm will render these services: (a) advise the Debtor with respect to its rights, powers, and obligations in the continued management of its assets and affairs; (b) advise and consult the Debtor on the conduct of the Chapter 11 case; (c) take all necessary actions to protect and preserve the Debtor's estate; (d) prepare on the Debtor's behalf any legal papers necessary to the administration of its Chapter 11 case; (e) negotiate and prepare on the Debtor's behalf plan(s) of reorganization, disclosure statement(s) and all related agreements and/or documents and take any necessary action on its behalf to obtain confirmation of such plan(s); (f) advise the Debtor in connection with the sale of any assets; (g) attend meetings and negotiate with representatives of creditors and other parties in interest; (h) appear before this Court, any appellate courts, and the U.S. Trustee, and protect the interests of the Debtor's estate before such courts and the U.S. Trustee; and (i) perform all other necessary legal services and provide all other necessary or appropriate legal advice to the Debtor in connection with the Chapter 11 case. The firm will be paid at these hourly rates: Robert Lewis, Attorney $450 Jasmine Rosa, Paralegal $150 Mr. Lewis disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Robert G. Lewis, Esq. Law Offices of Robert S. Lewis, PC 3 Burd Street Nyack, NY 10960 Telephone: (854) 358-7100 About 9 Lake Region Blvd LLC 9 Lake Region Blvd LLC is a limited liability company. 9 Lake Region Blvd, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Case No. 24-36192) on December 9, 2024, listing under $1 million in both assets and liabilities. Judge Peter D. Russin presides over the case. The Law Offices of Robert S. Lewis, PC serves the Debtor as counsel. The Chapter 11 case was dismissed and closed on February 6, 2026. 2nd Attempt 9 Lake Region Blvd LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Case No. 26-35463) on April 29, 2026. In its petition, the debtor reports estimated assets of $0-$100,000 and estimated liabilities of $100,001-$1,000,000. Honorable Bankruptcy Judge Kyu Young Paek handles the case. A&A DEMO: Seeks Approval to Hire Lonnemann CPA as Accountant ------------------------------------------------------------ A&A Demo & Excavating, Inc. seeks approval from the U.S. Bankruptcy Court for the Eastern District of Kentucky to hire Daniel Lonnemann of Lonnemann CPA, Inc. to serve as accountant. Mr. Lonnemann will provide these services: (a) provide bookkeeping services for the Debtor and bankruptcy estate; and (b) prepare the Debtor's tax returns. Mr. Lonnemann will receive compensation of $375 per month for bookkeeping services and $1,375 for preparation of tax returns. Lonnemann CPA, Inc. is a "disinterested person" within the meaning of the Bankruptcy Code and, according to the filings, neither the professional nor his firm holds any adverse claim against the Debtor or the bankruptcy estate. The firm can be reached at: Daniel Lonnemann Lonnemann CPA, Inc. Lonnemann, CPA 8729 US Hwy 42 Ste B Florence, KY 41042 Tel: (859) 525-2488 Fax: (859) 282-9858 Email: office@lonncpa.com About A&A Demo & Excavating Inc. A&A Demo & Excavating, Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Ken. Case No. 26-20194) on March 9, 2026 with $1,000,001 to $10 million in both assets and liabilities. Judge Hon. Douglas L Lutz oversees the case. The Debtor is represented by; Michael B. Baker, Esq. The Baker Firm, PLLC Tel: (859) 647-7777 Email: mbaker@bakerlawky.com AA GLASS: Seeks Cash Collateral Access -------------------------------------- AA Glass Industries, LLC asks the U.S. Bankruptcy Court for the District of New Jersey for authority to use cash collateral and provide adequate protection. The proposed interim order identifies four principal secured creditors that collectively claim approximately $1.72 million in secured debt as of the petition date. These creditors are the U.S. Small Business Administration (asserting a secured claim of approximately $759,324), Seacoast National Bank (approximately $179,260), NewCo Capital Group VI, LLC (approximately $353,270), and Rival Funding (approximately $426,495). These lenders claim security interests in various categories of the Debtor's assets, including accounts receivable, payment intangibles, deposit accounts, proceeds, and in some cases substantially all company assets. The court authorizes AA Glass Industries to use cash collateral on an interim basis according to a court-approved budget attached to the motion. The funds may be used only for ordinary and necessary business expenses required to preserve operations and maintain the value of the estate. Permitted expenditures include payroll and payroll taxes, rent, utilities, insurance premiums, materials, supplies, vehicle-related expenses, and other routine operating costs. The authorization is limited to the amounts and categories contained in the approved budget, reflecting the court's effort to balance the Debtor's need to continue operating against the secured creditors' interests in the collateral. As a condition of allowing the use of cash collateral, the secured creditors will receive adequate protection, a fundamental bankruptcy concept intended to compensate secured lenders for any decline in the value of their collateral during the Chapter 11 case. The proposed order grants each secured creditor a replacement lien on postpetition assets and proceeds of the same type and nature as the collateral securing its prepetition claim. These replacement liens are granted only to the extent that the creditor holds a valid, perfected, enforceable, and unavoidable prepetition lien and only to the extent of any actual diminution in the value of its collateral. The replacement liens are automatically deemed perfected upon entry of the order without requiring the filing of additional financing statements or other perfection documents, although the debtor must execute such documents if reasonably requested by a secured creditor. The proposed order imposes significant reporting and transparency obligations on the debtor. Within fourteen days after entry of the order, and monthly thereafter, AA Glass Industries must provide the secured creditors and any appointed creditors' committee with accountings showing all cash receipts and disbursements made under the order. The Debtor must also provide copies of its monthly operating reports and other non-burdensome information reasonably requested concerning collateral. Additionally, secured creditors are granted inspection and audit rights, allowing them, upon reasonable notice, to examine the Debtor's books, records, business premises, collateral, and cash-management activities during normal business hours. To ensure compliance, the order establishes procedures for addressing defaults. If the Debtor violates the order or defaults under its terms, any affected secured creditor may seek a hearing on fourteen days' notice or request expedited emergency relief if immediate and irreparable harm is threatened. However, the Debtor is given some operational flexibility through a budget variance provision that permits deviations of up to 10% above or below individual budget line items without constituting a default. The order also establishes a limited carve-out that takes priority over secured creditors' liens. This carve-out protects certain administrative expenses necessary for the functioning of the bankruptcy case. Specifically, it includes unlimited payment of statutory fees owed to the U.S. Trustee and court clerk, up to $3,500 for the fees and commissions of a hypothetical Chapter 7 trustee, and up to $6,500 for court-approved professional fees and expenses incurred by the Debtor's attorneys or any appointed creditors' committee professionals. These carve-outs ensure that essential administrative and professional services can continue even if the secured creditors’ collateral would otherwise encumber all available assets. A hearing on the matter is set for June 25, at 10 a.m. A copy of the motion is available at https://urlcurt.com/u?l=fCjIAj from PacerMonitor.com. About AA Glass Industries AA Glass Industries, LLC, headquartered in Toms River, New Jersey, provides glass installation and fabrication services for commercial and residential projects. Founded in 1989, the company specializes in custom storefront systems, architectural glass, and entranceways, and also installs residential features such as shower enclosures, mirrored walls, shelving, and custom glass furniture tops. AA Glass Industries filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. D.N.J. Case No. 26-12798) on March 13, 2026. In the petition signed by William Mackey, managing member, the Debtor disclosed up to $50,000 in assets and up to $10 million in liabilities. Judge Eamonn James O'Hagan oversees the case. Daniel Straffi, Esq., at Straffi & Straffi, LLC represents the Debtor as counsel. ADVANCED REHABILITATION: Gets Extension to Access Cash Collateral ----------------------------------------------------------------- Advanced Rehabilitation Clinics, Inc. received another extension from the U.S. Bankruptcy Court for the Northern District of Illinois, Eastern Division, to use the cash collateral of Village Bank and Trust. The court entered its seventh interim order extending the Debtor's authority to use cash collateral through June 30 in accordance with its budget. The Debtor must not exceed disbursements by more than 10% per month without prior consent from secured creditor, Village Bank & Trust. The Debtor projects total operational expenses of $46,023.00 for June. As adequate protection, Village Bank & Trust will continue to receive a monthly payment of $2,300 and a replacement lien on all property acquired by the Debtor after its Chapter 11 filing that is similar to its pre-bankruptcy collateral. This replacement lien will have the same validity, extent, and priority as the bank's pre-bankruptcy lien. Events of default under the interim order include failure to make payments and maintain insurance; use of cash collateral outside the budget; failure to provide required reporting; and violation of any provision of the interim order. The debtor must also remit $1,000 to Subchapter V Trustee Ira Bodenstein by June 24, to be held in escrow pending further court order. The order is available at https://sl1nk.com/fsigls1 from PacerMonitor.com. The next hearing is scheduled for June 23. Village Bank and Trust is the Debtor's only secured creditor, holding a lien on the Debtor's assets for a loan of approximately $111,000. The Debtor asserts that the value of its assets exceeds the amount owed and emphasizes that access to cash collateral is essential to continue business operations and avoid premature liquidation. Village Bank and Trust is represented by: Adam B. Rome, Esq. Greiman, Rome, & Griesmeyer, LLC 205 W. Randolph St., Ste. 2300 Chicago, IL 60606 Phone: 312-428-2750 arome@grglegal.com About Advanced Rehabilitation Clinics Inc. Advanced Rehabilitation Clinics, Inc. filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. N.D. Ill. Case No. 25-16498) on October 27, 2025, with up to $50,000 in assets and $100,001 to $500,000 in liabilities. Ira Bodenstein serves as Subchapter V trustee. Judge Deborah L. Thorne oversees the case. Penelope N. Bach, Esq., at Bach Law Offices represents the Debtor as bankruptcy counsel. AIR INDUSTRIES: Amends Tenax Aerospace Merger Agreement ------------------------------------------------------- Air Industries Group amended its merger agreement with Tenax Aerospace Acquisition LLC to change the definition of Air net indebtedness after a $1.97 million customer advance and related promissory note, according to a filing with the Securities and Exchange Commission. The company said the amendment is intended to mitigate the impact of the advance and promissory note on the calculation of Air net indebtedness and the number of Air common shares to be issued to Tenax members under the merger agreement. Air Industries said wholly owned subsidiary Air Industries Machining Corp. received the customer prepayment June 2 for product expected to be manufactured and delivered to a U.S. customer. The advance is noninterest-bearing unless an event of default occurs and is due no later than Nov. 30, 2026. About Air Industries Air Industries Group, based in Bay Shore, New York, manufactures precision assemblies and components for aerospace and defense prime contractors, including landing gears, flight controls, engine mounts and aircraft-engine components. CBIZ CPAs P.C., which has served as Air Industries' auditor since 2008 after giving effect to CBIZ's acquisition of Marcum LLP's attest business, included a going-concern paragraph in its March 27, 2026, audit report, citing the scheduled Sept. 30, 2026, expiration of the current credit facility, the Oct. 1, 2026, maturity of related-party subordinated notes and lender rights over substantially all cash receipts. As of March 31, 2026, Air Industries reported total assets of $59.22 million, total liabilities of $40.07 million and stockholders' equity of $19.15 million. ALGOMA STEEL: S&P Alters Outlook to Stable, Affirms 'CCC+' ICR -------------------------------------------------------------- S&P Global Ratings revised its outlook on Canada-based steel producer Algoma Steel Inc. to stable from developing and affirmed its 'CCC+' issuer credit rating on the company and 'B-' issue-level rating on the company's senior secured second-lien notes due 2029. S&P said, "The stable outlook reflects our view that the company's liquidity will be sufficient to cover its estimated cash flow needs in 2026. We expect the company will transition to positive EBITDA in 2027 on higher volumes and lower costs per unit from its EAF steel production." Algoma still faces challenging steel market conditions due to the U.S. steel tariffs and oversupply in the Canadian market as it ramps up its electric arc furnace (EAF) operations. S&P said, "We estimate lower volumes and subdued pricing in Canada will lead to negative EBITDA and free operating cash flow (FOCF) in 2026. "However, we believe the company has sufficient liquidity to cover its estimated FOCF deficits, supported by more than C$100 million of working capital release in the first quarter and about C$200 million of expected tax refunds later this year. "We expect Algoma's operating cash flow will remain under pressure over the next few quarters. U.S. tariffs of 50% on Canadian steel imports remain in effect and continue to have a material adverse impact on North American steel trade and Canadian steel producers' access to the U.S. market." This has created a massive oversupply in the Canadian market, including the impact from continued shipment of steel products into Canada by U.S. steel manufacturers and other offshore producers, resulting in significantly lower domestic prices. These tariffs also made the company's blast furnace operations commercially unviable, leading to a permanent shutdown of the operations in January 2026. Consequently, the company's strategic transition to EAF steelmaking, originally planned as a phased, multiyear process through 2027, has been accelerated to become the sole operational production path. These factors have led to lower realized prices that significantly affected revenues, adjusted EBITDA, and cash flow generation over the past 12 months. Algoma generated adjusted EBITDA of about negative C$450 million during the last 12 months ended March 31, 2026, and funded the deficits largely with cash on hand, availability under its amended $375 million asset-based lending (ABL) facility, and C$500 million government loan facilities. S&P said, "We estimate the company's operating and financial results will remain under pressure in 2026 with the company generating negative EBITDA of about C$185 million. This reflects our assumption that existing tariffs will remain in place and lower volumes following the closure of Algoma's blast furnace operations. We expect the company's EBITDA will turn positive in 2027 as it ramps up steel production from its low-cost EAF facility that started operating in July 2025 and for adjusted debt to EBITDA to improve to just over 7x by the end of 2027. The company's increased emphasis on discrete plate products and aligning its product mix with prevailing demand conditions in the Canadian steel market should also contribute to improved operating earnings and cash flow over the next couple of years. "We assume Algoma's liquidity will be sufficient to cover its cash flow needs at least over the next 12 months. As of March 31, 2026, the company had C$65 million cash, C$195 million availability under its $375 million ABL facility, and C$293 million available under C$500 million government loan facilities. The company benefited from a C$100 million working capital release during the first quarter of 2026 and expects a tax refund of about C$200 million later this year. The refund relates to significant losses in 2025 that the company can carry back to recover taxes paid in prior years. Our outlook revision to stable primarily reflects our view that these liquidity sources will cover Algoma's FOCF deficit this year as the company ramps up its EAF production. We expect the company will draw down a portion of its available liquidity through 2026 before generating break-even FOCF in 2027 by increasing EAF steel production and lower per unit costs." Furthermore, the company has no debt maturity until its ABL facility comes due May 2028 (C$68M drawn at March 31, 2026). Algoma's transition to EAF steelmaking will increase capacity and potentially improve its cost profile over the longer term. S&P said, "The company began steelmaking from its first EAF facility in July 2025, and we expect it will commission a second facility in the third quarter. We assume Algoma will have an annual raw steel production capacity of 3.7 million tons once EAF production is fully ramped-up, which is consistent with the company's public guidance. This transition to EAF production would increase capacity while also reducing fixed costs, sustaining capital expenditure (capex) needs, and carbon emissions. Still, our rating incorporates our estimate that the full potential benefits for Algoma's cost profile and operating cash flows from this transition will take several quarters to be fully realized. Also, we believe the company would remain exposed to unanticipated ramp-up issues, or an inability to achieve management's targeted per-unit cost." S&P said, "The stable outlook reflects our view that the company's liquidity will be sufficient to cover its estimated cash flow needs in 2026. We expect the company will transition to positive EBITDA in 2027 on higher volumes and lower costs per unit from its EAF production. "We could downgrade Algoma within the next 12 months if lower-than-anticipated volumes, potentially from challenges ramping up production at its EAF facilities, lead to large FOCF deficits that deplete its liquidity. These events could increase the likelihood of a default or debt restructuring. "We could upgrade Algoma if it ramps up production at the EAF facility such that we gain greater visibility into the company's longer-term output and cost profile. In this scenario, we would expect the company to generate positive FOCF and reduce S&P Global Ratings-adjusted debt to EBITDA toward 6x, with enhanced prospects for refinancing its revolving credit facility." ALLSTAR PROPERTIES: Wins Bid for Rejection of Real Property Lease ----------------------------------------------------------------- Judge Barbara Ellis-Monro of the U.S. Bankruptcy Court for the Northern District of Georgia granted AllStar Properties I, LLC's Motion For Order Approving Rejection of Certain Non-Residential Real Property Lease Pursuant to 11 U.S.C. Sec. 365 in the bankruptcy case. These jointly administered cases came before the Court on April 15, 2026, on AllStar Properties I, LLC's ("Debtor") Motion For An Order Approving Sale of Real Estate Located in Floyd County, Georgia (130 Broad St) and Motion For Order Approving Rejection of Certain Non-Residential Real Property Lease Pursuant to 11 U.S.C. Sec. 365 through which Debtor seeks an order approving the sale of certain real property located in Rome, Georgia (the "Property") and rejection of one of three leases associated with the Property as Debtor has determined that the affected lease (the "Lease") is under market. Debtor states that the proposed purchaser of the Property does not wish to proceed with the purchase if the Lease is not rejected. The buyer proposes to purchase the Property for $750,000 contingent on Court approval and rejection of the Lease. The proposed purchase price would provide for payment of the claim secured by the Property as well as approximately $300,000 to Debtor's estate. Relevant to the issue before the Court, the lessee under the Lease, Edward D. Jones & Co. ("EDJ"), filed a Limited Objection to (I) The Motion For An Order Approving Rejection of Certain Non-Residential Real Property Lease Pursuant to 11 U.S.C. Sec. 365 And (II) The Motion For An Order Approving Sale of Real Estate Located in Floyd County, Georgia (130 Broad St) (the "Limited Objection"). EDJ argues in the Limited Objection that the proposed rejection impairs its rights under Sec. 365(h) of the Bankruptcy Code (the "Code") because it does not preserve its rights to treat the Lease as terminated or retain possession of the leased property for the remainder of the lease term and for any extensions provided therein with rights to offset against rent for damages caused by Debtor's nonperformance under the Lease. EDJ does not object to the rejection or the sale, rather it objects to the proposed sale order because it asserts that the order eliminates its rights under Sec. 365(h). The Court disagrees with EDJ's conclusion that it has an unlimited time to terminate after retaining rights under the Lease. Rather, the Code limits EDJ's right to the usual contract remedies for a material breach of the unexpired lease. The Court agrees with Debtor's argument that retention can result in waiver of the right of termination, as it is consistent with nonbankruptcy law of contracts that applies to the Lease. The Court further concludes that imposition of a deadline for EDJ to elect to retain or terminate is unnecessary given that the decision is to be made at rejection but, that it is not inconsistent with Sec. 365(h), Sec. 105(a), and Law v. Siegel, 571 U.S. 415, 423, 134 S. Ct. 1188, 1195 (2014) ("a bankruptcy court's Sec. 105(a) and inherent powers may not be exercised in contravention of the Code"), to provide EDJ a reasonable time to make that decision. Accordingly, it is ordered that EDJ must determine whether to retain its rights under the Lease or treat the Lease as terminated within 45 days of the date of entry of this order. A copy of the Court's Order dated June 15, 2026, is available at https://urlcurt.com/u?l=5MlZ5k from PacerMonitor.com. About Allstar Properties LLC Allstar Properties LLC and affiliates are Georgia-based real estate companies that hold and manage property assets. The Allstar entities focus on property ownership, while ACH Rental Properties provides property management and rental services. Collectively, they operate within the real estate sector across residential and nonresidential properties in the state. Allstar Properties LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ga. Case No. 25-41314) on August 31, 2025. In its petition, the Debtor reports estimated assets and liabilities between $10 million and $50 million each. Honorable Bankruptcy Judge Barbara Ellis-Monro handles the case. The Debtor is represented by Anna Humnicky, Esq. at SMALL HERRIN, LLP. ALTAMAHA D.M.E.: Wins Final Approval to Use Cash Collateral ----------------------------------------------------------- The U.S. Bankruptcy Court for the Southern District of Georgia, Brunswick Division, issued a final order authorizing Altamaha D.M.E., Inc. to use cash collateral to fund operations. The order follows two prior interim cash collateral orders and allows the Debtor to continue operating under a court-approved budget through the earlier of December 31 or other specified terminating events. The order permits the Debtor to use cash collateral for approved operating expenses while maintaining debtor-in-possession bank accounts and strict financial controls. The Debtor may exceed budgeted line items by up to 10% without further approval, while larger variances require consent from Newtek and the U.S. Trustee or additional court authorization. The Debtor must keep its funds separate from those associated with Goose Creek Cabinets, another business operated by the Debtor's principal. To protect secured creditors, the court granted continued adequate protection, including replacement liens on post-petition assets and proceeds. The Debtor must maintain insurance, pay post-petition taxes, continue business operations, and make adequate protection payments as outlined in the budget. The order also recognizes Newtek's perfected security interests and grants replacement liens while excluding Chapter 5 avoidance actions from the collateral package. Default events that could terminate the Debtor's authority to use cash collateral include failure to comply with the budget, maintain insurance, make required payments, or remain current on taxes. Altamaha D.M.E. must file a Chapter 11 plan by October 22, and obtain confirmation by December 21, unless extended by agreement with Newtek. If a default occurs and is not timely cured, Newtek may seek expedited relief, including suspension of cash collateral use and relief from the automatic stay. The order is available at https://l1nq.com/6r85h9g from PacerMonitor.com. About Altamaha D.M.E. Inc. Altamaha D.M.E., Inc. operates a medical device sales business with three storefront locations in Jesup, Brunswick, and Pooler, Georgia. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Ga. Case No. 26-20053-MJK) on February 24, 2026. In the petition signed by Teresa L. Brake, president, the Debtor disclosed up to $10 million in both assets and liabilities. Judge Michele J. Kim oversees the case. Thomas B. Norton, Esq., at Stone & Baxter, LLP, represents the Debtor as legal counsel. ARCHBISHOP OF BALTIMORE: Updates Joint Plan Disclosures ------------------------------------------------------- The Roman Catholic Archbishop of Baltimore, a corporation sole, and certain parishes, schools and entities located within the Archdiocese and contemplated as Additional Debtors submitted a First Amended Joint Plan of Reorganization dated June 5, 2026. A Claim or Interest is placed into a particular Class for all purposes, including voting, confirmation, and Distribution under this Plan and sections 1122 and 1123(a)(1) of the Bankruptcy Code. The Amended Plan does not alter the proposed treatment for unsecured creditors: * Class 5 includes all General Unsecured Claims. Except to the extent a holder of a General Unsecured Claim agrees to less favorable treatment of their General Unsecured Claim, in exchange for full and final satisfaction of such Allowed General Unsecured Claim, each holder of a General Unsecured Claim shall receive payment in Cash in an amount equal to such Allowed General Unsecured Claim (excluding interest), which shall be payable on or as soon as reasonably practicable after the later to occur of: (i) the Effective Date; (ii) the date on which the applicable General Unsecured Claim becomes an Allowed General Unsecured Claim; and (iii) the date on which the holder of such General Unsecured Claim and the Debtor, Additional Debtor, Reorganized Debtor, or Additional Reorganized Debtor, as applicable, shall otherwise agree in writing. General Unsecured Claims are Impaired. * Class 9 consists of Additional Debtors General Claims. Except to the extent that a Claimant holding an Allowed Additional Debtors General Claim agrees to less favorable treatment of such Additional Debtors General Claim, each Reorganized Additional Debtor will pay each Allowed Additional Debtors General Claim of such Reorganized Additional Debtor in accordance with the terms and conditions otherwise governing such Allowed Additional Debtors General Claim so that such Allowed Additional Debtors General Claim is rendered Unimpaired by the Plan and will pass through after the Effective Date for all purposes as if the Additional Debtor Chapter 11 Cases had never been filed. Class 9 is Unimpaired. All rights to receive payment under any Insurance Settlement Agreements shall be assigned to the Survivor Compensation Trust, and each Settling Insurer will pay its Insurance Settlement Amount to the Survivor Compensation Trust within the time set forth in the applicable Insurance Settlement Agreement. As of the date of this Plan, the total amount to be paid into the Survivor Compensation Trust pursuant to Insurance Settlement Agreements is $185,000,000. For a period of 36 months, the Survivor Compensation Trust shall be obligated to maintain in a segregated account for the benefit of Unknown Survivor Claimants an amount not less than the lesser of: (a) the aggregate amount of all awards to Unknown Survivor Claimants finally determined in accordance with this Plan, the Survivor Compensation Trust Documents, and other Plan Documents; and (b) $12,000,000 (such amount, the "Unknown Survivor Claims Reserve"). On the Effective Date, subject to the rights of the Non-Settling Insurers in this section and Section 8.1 and Section 8.2 of this Plan, the Non-Settling Insurer Policies shall be assumed and assigned to the Insurance Trust, pursuant to and in accordance with section 365 of the Bankruptcy Code., resulting in all rights, claims, interests, benefits, responsibilities, and obligations of the Co-Insured Entities in the Non-Settling Insurer Policies automatically and without further act or deed being assigned and transferred to the Insurance Trust on the Effective Date, subject to and in accordance with the terms of this Plan (the "Insurance Assignment"). The Insurance Assignment shall not be construed as an assignment of the Non-Settling Insurer Policies but rather an assignment of the Co-Insured Entities' rights and interests in the Non-Settling Insurer Policies for the Insurance Trust to recover upon Insurance Claims relating to or arising out of Survivor Claims, including Litigation Claims, asserted against the Insurance Trust to the extent such Survivor Claims relate to Insurance Claims against Non-Settling Insurers, notwithstanding any anti-assignment provision in or incorporated into any such Non-Settling Insurer Policy. Upon the effectiveness of the Insurance Assignment, the Insurance Trust shall: (a) have whatever obligations, if any, existing under the Non-Settling Insurer Policies under applicable law, including without limitation all notice obligations required under the Non Settling Insurer Policies and applicable law pertaining to Survivor Claims; and (b) be solely responsible for satisfying, to the extent required under applicable law or the Non-Settling Insurer Policies, any premiums, deductibles, self-insured retentions, and fronting obligations arising in any way out of any and all Survivor Claims. The Insurance Assignment: (x) is absolute upon entry of the Confirmation Order, and conditioned upon the occurrence of the Effective Date, and requires no further action by the Co-Insured Entities, the Insurance Trust, the Bankruptcy Court, the Non Settling Insurers, or any other Entity; (y) shall be governed by, and construed in accordance with, the Bankruptcy Code and the laws of the state of Maryland, without regard to conflict of law principles; and (z) subject to the terms of this Plan, shall be effective to the maximum extent permissible under applicable law and the terms of the Non-Settling Insurer Policies. Pursuant to section 1123 of the Bankruptcy Code and Bankruptcy Rule 9019, in consideration for the classification, Distributions, releases, and other benefits provided under this Plan, upon the Effective Date, the provisions of this Plan shall constitute a good faith compromise and settlement of Claims and Interests held by the Debtor and Additional Debtors, including those related to any Insurance Settlement Agreement under the applicable Settling Insurer Policies, including any controversies relating to the contractual, legal, and subordination rights that holders of a Claim or Interests might have with respect to any Claim or Interests under this Plan. Distributions made to holders of a Claim or Interests in any Class are intended to be final. All Distributions on account of Allowed Claims other than Survivor Claims shall be paid by the Debtor, Additional Debtors, Reorganized Debtor, or Additional Reorganized Debtors, as applicable, pursuant to and in accordance with this Plan. All Distributions on account of Survivor Claims shall be paid solely from the Trusts, pursuant to and in accordance with this Plan, the Confirmation Order, the Insurance Trust Agreement, the Survivor Compensation Trust Agreement, and Survivor Compensation Distribution Plan. The Debtor, Additional Debtors, Reorganized Debtor, Additional Reorganized Debtors, and other Protected Parties shall fund their obligations under this Plan using Cash on hand or otherwise available. Trust Distributions shall be funded solely from Survivor Compensation Trust Assets and Insurance Trust Assets, as applicable. A full-text copy of the First Amended Joint Plan dated June 5, 2026 is available at https://urlcurt.com/u?l=ApLZIl from Epiq Corporate Restructuring LLC, claims agent. Attorneys for the Debtor: Catherine K. Hopkin, Esq. YVS LAW, LLC 185 Admiral Cochrane Drive, Suite 130 Annapolis, MD 21401 Tel: 443-569-0788 Fax: 410-571-2798 E-mail: chopkin@yvslaw.com - and - Blake D. Roth, Esq. Tyler N. Layne, Esq. HOLLAND & KNIGHT LLP 511 Union Street, Suite 2700 Nashville, TN 37219 Tel: 615.244.6380 Fax: 615.244.6804 E-mail: blake.roth@hklaw.com tyler.layne@hklaw.com - and - Philip T. Evans, Esq. HOLLAND & KNIGHT LLP 800 17th Street, NW, Suite 1100 Washington, DC 20006 Tel: 202.457.7043 E-mail: philip.evans@hklaw.com About Roman Catholic Archbishop of Baltimore Roman Catholic Archbishop of Baltimore is a non-profit religious institution that maintains its principal place of business at 320 Cathedral Street, Baltimore, Maryland 21201. Consistent with Canon Law and Maryland law, the RCAB holds property, including real property, as a corporation sole for the purposes of erecting churches, parsonages, burial grounds, or schools according to the discipline and government of the Roman Catholic Church, with all such property to be used only for such purposes. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Md. Case No. 23-16969) on Sept. 29, 2023. In the petition signed by William E. Lori, archbishop, the Debtor disclosed $100 million to $500 million in assets and $500 million to $1 billion in liabilities. Judge Michelle M. Harner oversees the case. The Debtor tapped YVS Law, LLC and Holland & Knight LLP as legal counsel; Keegan Linscott & Associates, PC as financial and restructuring advisor; and Gallagher Evelius & Jones LLP as special counsel. Epiq Corporate Restructuring LLC is the claims, noticing, and balloting agent. The U.S. Trustee for Region 5 appointed an official committee to represent unsecured creditors in the Chapter 11 case of The Roman Catholic Archbishop of Baltimore. The committee hires Stinson LLP as counsel. Tydings & Rosenberg LLP as local counsel. ARCHER MOTORSPORTS: Gets Final OK to Use Cash Collateral -------------------------------------------------------- Archer Motorsports, Inc. received final approval from the U.S. Bankruptcy Court for the District of Arizona to use cash collateral. The court authorized the debtor to use cash, including cash collateral, for ordinary and necessary post-petition operating expenses in accordance with the budget attached to its motion, subject to a 10% variance. Unless extended by the court, the authority to use cash collateral will expire at 11:59 p.m. on July 31. As adequate protection, secured creditors are granted perfected replacement liens on the debtor’s post-petition property to the same extent, validity, and priority as their prepetition liens, but only to the extent of any diminution in collateral value caused by the debtor’s use of cash collateral during the bankruptcy case. The order further provides that if the replacement liens do not fully protect a creditor's interest, additional perfected liens may attach to post-petition cash and deposit accounts in favor of Haro Bicycle Corporation, Cycling Sports Group, Inc., Specialized Bicycle Components, Inc., JPMorgan Chase Bank, N.A., Giant Bicycle Inc., and Gazelle USA, LLC. JPMorgan Chase retains a first-priority interest in deposit accounts up to the value of its collateral as of the petition date. About Archer Motorsports Inc. Archer Motorsports, Inc is an Arizona-based bicycle and e-bike retailer. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Ariz. Case No. 26-04217) on April 29, 2026. In the petition signed by Randolph Archer, president, the Debtor disclosed up to $500,000 in assets and up to $10 million in liabilities. Judge Madeleine C. Wanslee oversees the case. Anthony Cali, Esq., at Allen, Jones & Giles, PLC, represents the Debtor as legal counsel. ARRIVE AI: Sets $15 Million ATM Offering ---------------------------------------- Arrive AI Inc. entered into an equity distribution agreement with Maxim Group LLC to sell up to $14.97 million of common stock through an at-the-market offering program, according to a Form 8-K filed with the Securities and Exchange Commission. The company said Maxim will act as sales agent and receive a commission equal to 2.5% of the gross sales price from each sale of shares. Arrive AI said it is not required to sell shares under the agreement and may suspend sales at any time. The shares will be issued under the company's shelf registration statement on Form S-3, which was declared effective June 11. About Arrive AI Arrive AI Inc., based in Fishers, Indiana, develops autonomous last-mile logistics infrastructure, including Arrive Points smart lockers and mini-cross-docks designed to connect drones, robots, delivery providers, retailers and consumers. Stephano Slack LLC, which has served as Arrive AI's auditor since 2025, included a going-concern paragraph in its April 15, 2026, audit report, citing recurring operating losses and negative cash flows from operations since inception. As of March 31, 2026, Arrive AI Inc. reported total assets of $15.49 million, total liabilities of $12.87 million and stockholders' equity of $2.62 million. ARTELLA SOLUTIONS: Gets Extension to Access Cash Collateral ----------------------------------------------------------- Artella Solutions, Inc. received fifth interim approval from the U.S. Bankruptcy Court for the Southern District of Texas, Houston Division, to use cash collateral. Under the fifth interim order, the Debtor is permitted to use cash collateral in line with an approved budget, subject to a 10% variance, on a rolling basis until the final hearing. The use of funds must also remain consistent with the terms of a separate DIP financing order with Pulse Layer, Inc., and in case of conflict, the DIP order governs. The Debtor projects 4-Weeks total operational expenses of $653,231.00. As adequate protection, the U.S. Small Business Administration and other secured creditors will be granted replacement liens on post-petition assets, maintaining their pre-petition priority. However, these liens are subordinate to the DIP lender's senior liens, and certain assets such as avoidance actions and DIP collateral are excluded from the replacement liens. The order also requires the Debtor to remain current on taxes, maintain insurance, and file monthly operating reports. All creditor rights are preserved, including the ability to seek modifications or object to improper use of funds. A final hearing is scheduled for July 6. A copy of the court's order and the Debtor's budget is available at https://sl1nk.com/p8sfscu from PacerMonitor.com. About Artella Solutions Inc. Artella Solutions, Inc provides remote patient monitoring solutions focused on cardiac rhythm management. It is a Texas corporation and a wholly owned subsidiary of CorMedica Group, Inc. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 26-31092) on February 19, 2026). In the petition signed by Patrick Magill, president, the Debtor disclosed up to $10 million in both assets and liabilities. Judge Jeffrey P. Norman oversees the case. Melissa A. Haselden, Esq., at Haselden Farrow, PLLC, represents the Debtor as legal counsel. ARTM2: Seeks Approval to Tap Law Office of Andrews Cho as Counsel ----------------------------------------------------------------- ARTM2, LLC seeks approval from the U.S. Bankruptcy Court for the Central District of California to employ Andrews Cho, A Law Corporation as bankruptcy reorganization and general insolvency counsel, effective as of May 27, 2026. The firm will provide these services: (a) advise and assist the Debtor with respect to compliance with the requirements of the United States Bankruptcy Code; (b) advise the Debtor regarding matters of bankruptcy law, including the rights and remedies of the Debtor with regard to its assets and liabilities; (c) represent the Debtor in any proceedings or hearings before the Court and in any action in any other court where the Debtor's rights under the Bankruptcy Code may be affected; (d) prepare and assist in the preparation of reports, accounts, and pleadings related to the Debtor's Chapter 11 case; (e) advise the Debtor concerning the requirements of the Bankruptcy Code and applicable rules as the same may affect the Debtor's Chapter 11 case; (f) assist the Debtor in the formulation, negotiation, confirmation, and implementation of a Chapter 11 plan of reorganization, liquidation or otherwise; and (g) take such other action and perform such other services as the Debtor may require in connection with its Chapter 11 case. Andrew S. Cho will receive an hourly rate of $475, while Of Counsel attorneys shall receive an hourly rate of $400. The Debtor provided a retainer of $25,000 and an additional $1,738 for the filing fee. Andrews Cho, A Law Corporation is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code and does not hold any interest adverse to the estate, according to court filings. The firm can be reached at: Andrew S. Cho, Esq. LAW OFFICES OF ANDREW S. CHO 505 N. Euclid Street, Suite 560 Anaheim, CA 92801 Telephone: (714) 881-0009 E-mail: andrew@ascholaw.com - and - Jay K. Chien, Esq. Telephone: (818) 949-8858 E-mail: attorneyjke@gmail.com About ARTM2, LLC ARTM2, LLC owns a 7,000-square-foot commercial building at 4117 W. Pico Blvd. in Los Angeles. ARTM2, LLC sought protection under Chapter 11 of the Bankruptcy Code (Bankr. C.D. Cal. Case No. 2:26-bk-15271) on May 27, 2026. At the time of the filing, Debtor had estimated assets of between $1,000,001 and $10 million and liabilities of between $1,000,001 and $10 million. Judge Deborah Saltzman oversees the case. LAW OFFICES OF ANDREW S. CHO is Debtor's legal counsel. ASHWOOD FOOD: Gets Interim OK to Use Cash Collateral ---------------------------------------------------- Ashwood Food Service, Inc. received interim approval from the U.S. Bankruptcy Court for the District of Massachusetts, Eastern Division, to use cash collateral. Under the interim order, the Debtor may collect and use cash collateral, including proceeds from pre-petition accounts receivable and cash on hand in accordance with an approved operating budget, subject to a 10% aggregate budget variance. Secured creditors including Newtek Business Finance, the U.S. Small Business Administration, Credibly of Arizona, LLC and several merchant cash advance lenders asset security interests on proceeds of pre-petition accounts receivable and cash on hand. As adequate protection, all secured creditors will be granted continuing replacement liens on post-petition assets to the extent they held valid, perfected, and unavoidable pre-petition liens. The order is available at http://bankrupt.com/misc/AshwoodFood_ICCOrder.pdf A further hearing is scheduled for July 7, with objections due by July 1. Ashwood, which generated over $2.3 million in gross revenues in 2025 and employs roughly 40 workers, attributes its financial distress to economic strains from the COVID pandemic that necessitated several Small Business Administration EIDL loans. Facing low capital despite the assistance, the Debtor entered into heavily burdensome "merchant cash advance" agreements in late 2025; subsequent collection actions by these lenders ultimately triggered the bankruptcy filing. As of the petition date, the Debtor's principal assets are valued at approximately $1,450,000, which predominantly consists of a $1.405 million loan due from principal Peter D. Klaus, alongside $5,000 in cash, $20,000 in food inventory, and $20,000 in restaurant equipment. Conversely, the Debtor carries approximately $2,758,000 in secured debt. This includes a fully secured, $758,000 first priority blanket lien held by Newtek and a partially secured, $1.67 million second priority blanket lien held by the SBA. The Debtor also faces a $330,000 disputed loan from Credibly of Arizona, which it claims is entirely undersecured and may feature an illegal usurious interest rate exceeding 20 percent. Additionally, the Debtor reports roughly $20,000 in potential trade creditor claims subject to the Perishable Agricultural Commodities Act, while aggressively disputing the claims of three MCA lenders -- Kalamata Capital Group ($155,000), Legend Advance Funding ($125,000), and FundFi Merchant Funding ($110,000) -- arguing their agreements are legally flawed, usurious loans rather than genuine accounts receivable purchases. About Ashwood Food Service Inc. Ashwood Food Service, Inc. manages a full-service, 153-seat restaurant in Harwich Port and a second location at the Cranberry Valley municipal golf course. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Mass. Case No. 26-11320) on June 3, 2026. In the petition signed by Peter D. Klaus, president, the Debtor disclosed up to $10 million in both assets and liabilities. Andrea O'Connor, Esq., at Shatz, Schwartz & Fentin, P.C., represents the Debtor as legal counsel. ASHWOOD FOOD: Seeks Approval to Hire Medaglia & Co. as Accountant ----------------------------------------------------------------- Ashwood Food Service, Inc. seeks approval from the U.S. Bankruptcy Court for the District of Massachusetts to hire Medaglia & Co., Inc. to serve as accountants. The accountants will provide these services: (a) prepare and file the Debtor's federal and state income tax returns for 2025; (b) review the Debtor's financial information and assist in preparing projections relating to the formulation and confirmation of a Chapter 11 plan; and (c) provide accounting services for the Debtor and the estate as needed in the case. Medaglia & Co., Inc. has been providing accounting and tax services to the Debtor and related entities since January 2021 and is familiar with the Debtor's operations and financial records. The firm is owed $2,655 for prepetition services. Compensation for postpetition services will be subject to Court approval through fee application procedures. Medaglia & Co., Inc. is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code and has no conflicts of interest, according to court filings. The firm can be reached at: Thomas Medaglia, C.P.A. President, Medaglia & Co., Inc. 23 East Pearl Street Nashua, NH 03060 About Ashwood Food Service, Incorporated Ashwood Food Service, Incorporated is a Massachusetts-based food service company engaged in commercial catering and hospitality operations. The company provides food preparation and distribution services to institutional and private clients. Ashwood Food Service, Incorporated sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-11320) on June 3, 2026. In its petition, the Debtor reported estimated assets of $1 million-$10 million and estimated liabilities of $1 million-$10 million. The Debtor is represented by Andrea M. O'Connor, Esq. of Shatz, Schwartz & Fentin, P.C. ATA 2025: Employs Sherrard Roe Voigt & Harbison as Counsel ---------------------------------------------------------- ATA 2025, LLC seeks approval from the U.S. Bankruptcy Court for the Middle District of Tennessee to hire Sherrard Roe Voigt & Harbison, PLC to serve as legal counsel. The firm will provide these services: (a) give the Debtor and Debtor-in-Possession legal advice with respect to its rights, powers, and duties in the management of its property; (b) prepare all necessary pleadings, orders, reports, and other legal papers required in the case; (c) assist and counsel the Debtor in the preparation, presentation, and confirmation of a Plan of Reorganization; and (d) perform all other legal services necessary and appropriate in the general administration of the estate. The firm's hourly rates range from $410 to $1,060 for attorneys, and $300 to $390 for paralegals. Michael G. Abelow, Esq.'s hourly rate is $720, while Brettson J. Bauer Esq.'s hourly rate is $460. Sherrard Roe Voigt & Harbison, PLC is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code, according to court filings. The firm can be reached at: Michael G. Abelow, Esq. Brettson J. Bauer, Esq. SHERRARD ROE VOIGT & HARBISON, PLC 1600 West End Avenue, Suite 1750 Nashville, TN 37203 Telephone: (615) 742-4532 E-mail: mabelow@srvhlaw.com bbauer@srvhlaw.com About ATA 2025, LLC ATA 2025, LLC is a transportation asset company that owns luxury entertainer coaches used in the touring and entertainment travel market. The company's fleet includes Prevost C-SS, S-DS, and X3-45 coaches. ATA 2025, LLC in Tennessee sought relief under Chapter 11 of the Bankruptcy Code (Bankr. M.D. Tenn. Case No. 3:26-bk-02520) on May 27, 2026. At the time of the filing, Debtor had estimated assets of between $1,000,001 and $10 million and liabilities of between $0 and $50,000. Judge Randal S. Mashburn oversees the case. Sherrard Roe Voigt & Harbison, PLC is Debtor's legal counsel. AVENGER FLIGHT: Seeks to Extend Plan Exclusivity to Sept. 10 ------------------------------------------------------------ Avenger Flight Group, LLC and affiliates asked the U.S. Bankruptcy Court for the District of Delaware to extend their exclusivity periods to file a plan of reorganization and obtain acceptance thereof to Sept. 10 and Nov. 10, 2026, respectively. As of the Petition Date, the Debtors and their non-Debtor affiliates operated as a global leader in commercial aviation simulation and flight training. Avenger provided a full suite of advanced flight simulator training solutions to their customers, which included blue-chip passenger airlines, low-cost carriers, regional airlines, charter operators, and training operators. The Debtors commenced these bankruptcy cases to sell substantially all of their assets as a going concern and liquidate and wind-down their remaining assets in an orderly fashion. Pursuant to this Motion, the Debtors are seeking an extension of the Exclusive Periods. The Debtors explain that the companies satisfy the various factors that courts rely on in connection with granting extensions of the Exclusive Periods as set forth in section 1121(d) of the Bankruptcy Code. * The Debtors Have Made Good-Faith Progress. The Debtors have obtained first and second day relief to ensure a smooth transition into chapter 11 and filed their schedules of assets and liabilities and statements of financial affairs, among other tasks. The Debtors have also completed the Sale process that resulted in entry of the Sale Order approving the Sale, with the Sale closing on May 9, 2026. * The Debtors Filed the Combined Plan. The Combined Plan establishes a framework for the efficient resolution of these chapter 11 cases and represents the embodiment of a global settlement with the Committee and the Debtors' secured lenders (the "Lenders"). The Combined Plan is supported by the Committee. * Extending the Exclusivity Periods Will Not Prejudice Creditors. As noted, the Combined Plan is the result of the settlement with the Debtors' key constituencies and is supported by the Committee. Continued exclusivity will permit the Debtors to maintain flexibility so that a competing plan by another third party does not derail the parties' efforts towards confirmation of the Combined Plan. All stakeholders will benefit from such continued stability and predictability. * The Debtors Are Not Pressuring Creditors by Requesting an Extension of the Exclusive Periods. The Debtors have no ulterior motive in seeking an extension of the Exclusive Periods. The requested relief is not being sought to pressure the Debtors' creditors, and the Debtors submit that no pressure would result from the requested extension of the Exclusive Periods. * The Chapter 11 Cases Are Approximately Four Months Old. The Debtors' request for an extension of the Exclusive Periods is the Debtors' first such request and comes approximately four months after the Petition Date. During this short time, the Debtors closed the Sale, obtained entry of the Bar Date Order, provided notice of the bar dates to creditors, and have already begun the solicitation of the Combined Plan. The Debtors assert that termination of the Exclusive Periods would adversely impact the substantial progress made by the Debtors in the chapter 11 cases to date. The Debtors have thus far been able to focus their efforts upon maximizing value and obtaining approval of the sale of the Debtors' assets through the Sale Order, as well as moving forward efficiently with the solicitation of the Combined Plan in accordance with the Solicitation Procedures Order. Counsel to the Debtors: Mary F. Caloway, Esq. Richard M. Pachulski, Esq. PACHULSKI STANG ZIEHL & JONES LLP 919 North Market Street 17th Floor Wilmington, DE 19801 Tel: (302) 652-4100 Fax: (302) 652 4400 Email: mcaloway@pszjlaw.com rpachulski@pszjlaw.com - and - Gregory V. Demo, Esq. Cia H. Mackle, Esq. 1700 Broadway, 36th Floor New York, NY 10019 Tel: (212) 561-7700 Fax: (212) 561-7777 Email: gdemo@pszjlaw.com cmackle@pszjlaw.com About Avenger Flight Group Avenger Flight Group LLC provides low-cost training solutions for clients while preserving value, a high degree of quality and customer service at all times. It has tailor-made its services toward rapidly growing Low Cost Carriers (LCC) which had been neglected in many occasions by other training providers. AFG has become the preferred training center for many US and international airlines, especially LCCs. Avenger Flight Group and its affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bank. D. Del. Lead Case No. 26-10183) on Feb. 11, 2026. The Debtors tapped Pachulski Stang Ziehl & Jones as counsel; SierraConstellation Partners as restructuring advisors; and Seabury Aviation Partners LLC as their investment bankers. Kurtzman Carson Consultants LLC, d/b/a Verita Global, is the solicitation, claims and noticing agent. The Ad Hoc Group of 1L Lenders is being advised by Landis Rath & Cobb LLP, and Proskauer Rose LLP. The Official Committee of Unsecured Creditors retained Willkie Farr & Gallagher LLP as co-counsel, Womble Bond Dickinson (US) LLP as Delaware co-counsel, and FTI Consulting as financial advisor. AVENTIV TECHNOLOGIES: S&P Downgrades ICR to 'CC', Outlook Negative ------------------------------------------------------------------ S&P Global Ratings lowered its issuer credit rating on Aventiv Technologies LLC to 'CC' from 'CCC-'. The negative outlook indicates that S&P will lower its issuer credit rating on the company to 'SD' when the transaction is complete. S&P views the proposed transaction as a distressed exchange. Aventiv's financing agreement (which stemmed from the April 2025 out-of-court debt restructuring) proposes the exchange of roughly $1.2 billion in first-lien term loans and $367 million in second-lien term loans for common equity shares in the business. This makes up about 77% of the company's existing debt, with current financial sponsor Platinum Equity, which holds a 72.6% stake according to state filings, relinquishing its ownership position to existing lenders that will hold 100% indirect voting and equity interests. CPUC approval represented the last key regulatory hurdle precluding the deal from proceeding, and we believe the favorable decision will enable the transaction to close within the next 30-60 days. When completed, S&P will view the proposed transaction as distressed and tantamount to a default because the terms imply the investor will receive less than the promise of the original securities. It involves the exchange of secured debt claims for common equity shares without adequate offsetting compensation for accepting lower value. The negative outlook indicates that S&P will lower its issuer credit rating on the company to 'SD' upon completion of the transaction. BABCOCK & WILCOX: PES Products-Liability Claims Not Discharged -------------------------------------------------------------- Judge Meredith S. Grabill of the U.S. Bankruptcy Court for the Eastern District of Louisiana denied the sole count alleged by the Reorganized The Babcock & Wilcox Company in its declaratory action captioned as THE BABCOCK & WILCOX COMPANY, PLAINTIFF, V. PHILADELPHIA ENERGY SOLUTIONS REFINING AND MARKETING LLC, PES LIQUIDATING TRUST, WESTPORT INSURANCE COMPANY, XL INSURANCE AMERICA, INC., ALLIANZ GLOBAL RISKS US INSURANCE COMPANY, HDI GLOBAL INSURANCE COMPANY, AND CERTAIN UNDERWRITERS AT LLOYD'S LONDON-SYNDICATE 1221 (NAVIGATORS), ZURICH AMERICAN INSURANCE COMPANY, CERTAIN UNDERWRITERS AT LLOYD'S SUBSCRIBING TO ENNMG1800181, CERTAIN UNDERWRITERS AT LLOYD'S SUBSCRIBING TO ENNMG1800281, CERTAIN UNDERWRITERS AT LLOYD'S SUBSCRIBING TO ENNMG1800282, CERTAIN UNDERWRITERS AT LLOYD'S SUBSCRIBING TO EN100070-18, DEFENDANTS, ADV. NO. 21-1014 (Bankr. E.D. La.). The sole count in the adversary proceeding filed by The Babcock & Wilcox Company (pre-confirmation, "B&W" and, post-confirmation, the "Reorganized B&W") seeks: (i) a declaration that the confirmed joint plan of reorganization in B&W's 2000 bankruptcy case discharged the claims now asserted against the Reorganized B&W and affiliates in a Pennsylvania state court by Defendants Philadelphia Energy Solutions Refining & Marketing, LLC ("PESRM"), and PES Liquidating Trust (together, with PESRM, the "PES Entities"); and (ii) enforcement of the confirmed joint plan's discharge injunction. Through the Pennsylvania state court action, the PES Entities assert products-liability claims against the Reorganized B&W entities stemming from a 2019 explosion at a refinery formerly operated by PESRM (the "Girard Point Refinery") allegedly caused by the failure of an elbow joint manufactured by B&W and installed in the hydrofluoric-acid alkylation unit in the refinery in the early 1970s. Based on the evidence and applicable law, the Court finds that the PES Entities have met their burden to show that their products-liability claims are not prepetition bankruptcy claims discharged by the confirmed joint plan in B&W's bankruptcy case; therefore, they are excepted from the consequences of that confirmed plan. The Court thus denies the sole count in the Reorganized B&W's declaratory action. No statistical or other evidence is before the Court to suggest that the T-1 Elbow manufactured by B&W was destined to fail. Indeed, it performed for over 45 years before the June 2019 explosion at the Girard Point Refinery. The Court finds that the injury caused by the alleged failure of the T-1 Elbow was not relatively certain to manifest at some point. Thus, the PES Entities' current products-liability claims fail the prepetition-relationship test and are not prepetition bankruptcy claims discharged by B&W's confirmed Joint Plan. The PES Entities are not enjoined by the confirmed Joint Plan from pursuing those claims in the Pennsylvania state court action. A copy of the Court's Memorandum Opinion and Order dated June 13, 2026, is available at https://urlcurt.com/u?l=jZnCxx from PacerMonitor.com About Babcock & Wilcox Headquartered in Akron, Ohio, Babcock & Wilcox Enterprises is a growing, globally-focused renewable, environmental and thermal technologies provider with decades of experience providing diversified energy and emissions control solutions to a broad range of industrial, electrical utility, municipal and other customers. B&W's innovative products and services are organized into three market-facing segments which changed in the third quarter of 2020 as part of the Company's strategic, market-focused organizational and re-branding initiative to accelerate growth and provide stakeholders improved visibility into its renewable and environmental growth platforms. Babcock & Wilcox reported net losses of $10.30 million in 2020, $129.04 million in 2019, $724.86 million in 2018, $379.01 million in 2017, and $115.08 million in 2016. As of Sept. 30, 2021, the Company had $729.36 million in total assets, $708.96 million in total liabilities, and $20.40 million in total stockholders' equity. The Babcock & Wilcox Company filed for Chapter 11 bankruptcy (Bankr. E.D. La. Case No. 00-10992) on Feb. 22, 2000, before the Hon. Judge Jerry A. Brown. A plan was confirmed in the case on Jan. 18, 2006. BACHTEL ELECTRIC: Seeks Approval to Hire Neeleman Law as Counsel ---------------------------------------------------------------- Bachtel Electric, LLC seeks approval from the U.S. Bankruptcy Court for the Western District of Washington to hire Neeleman Law Group, P.C. to serve as its legal counsel. The firm will provide these services: (a) assisting the Debtor in the investigation of the financial affairs of the estate; (b) providing legal advice and assistance to the Debtor with respect to matters relating to this case and creditor distribution; (c) preparing all pleadings necessary for proceedings arising under this case; and (d) performing all necessary legal services for the estate in relation to this case. Neeleman Law Group, P.C. will be compensated at hourly rates of $600 for principals, $475 for associates, and $250 for paralegals, plus reimbursement of costs and expenses incurred in connection with the representation. The firm received a $16,738 pre-petition retainer, of which $10,000 remains held in trust for post-petition services pending court approval. Neeleman Law Group, P.C. is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code, according to court filings. The firm can be reached at: Thomas D. Neeleman, Esq. Jennifer L. Neeleman, Esq. NEELEMAN LAW GROUP, P.C. 1403 8th Street Marysville, WA 98270 Telephone: (425) 212-4800 Facsimile: (425) 212-4802 E-mail: jennifer@neelemanlaw.com About Bachtel Electric, LLC Bachtel Electric, LLC in Washington sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Western District of Washington Case No. 26-11621) on May 14, 2026. At the time of filing, Debtor had estimated assets of between $0 and $50,000 and liabilities of between $100,001 and $500,000. Judge Christopher M Alston oversees the case. Neeleman Law Group, P.C. is Debtor's legal counsel. BASIC ENERGY: Court Narrows Claims in First, et al. Adversary Case ------------------------------------------------------------------ Judge Christopher Lopez of the U.S. Bankruptcy Court for the Southern District of Texas ruled on the motion filed by Julio Quintana, Timothy Day, John Jackson, James Kern, Samuel Langford, and Keith Schilling ("C&J Directors") to dismiss the amended complaint in the adversary proceeding captioned as DAVID DUNN, AS TRUSTEE OF THE BASIC ENERGY LITIGATION TRUST, Plaintiff, VS. LAWRENCE FIRST, et al., Defendant, ADVERSARY NO. 23-03061 (Bankr. S.D. Tex.). David Dunn is the Trustee of the Basic Energy Litigation Trust. The Trust is the successor-in-interest to certain causes of action of Basic Energy Services, Inc. ("Basic HoldCo") and its debtor affiliates ("Subsidiaries," and together with Basic HoldCo, "Basic"). Defendants moved to dismiss the original complaint under Federal Rule 12(b)(6). In November 2025, the Court issued an order dismissing some causes of action and permitting the Trustee to file an amended complaint. In December 2025, the Trustee filed an Amended Complaint. Defendants then filed a Motion to Dismiss the Amended Complaint under Rule 12(b)(6). The Trustee's initial complaint sought damages based on four breaches of fiduciary duty. Count I was for damages based on breaches of fiduciary duties committed by the C&J Directors. The Trustee alleged the C&J Directors caused Basic to acquire C&J Well Services, Inc. from NexTier Holding Co. at an alleged massively inflated price ("C&J Acquisition"). After closing the C&J Acquisition, Basic wrote off close to 50% of C&J's purchase price. The Trustee alleged the C&J Directors breached their fiduciary duties to Basic HoldCo -- including duties of care, loyalty, and good faith -- and acted with gross negligence and recklessness, by, among other things, (i) approving the C&J Acquisition despite the conflict and control by Ascribe, (ii) failing to properly inform themselves and evaluate whether the Acquisition was in the best interest of Basic HoldCo and its creditors, (iii) ignoring an alternative bid, and (iv) failing to make any effort to market-test the Ascribe financing proposal with Basic's other noteholders. The C&J Directors' breach of fiduciary duties allegedly damaged Basic HoldCo and its creditors by, among other things, (i) harming and diminishing the value of Basic HoldCo and deepening Basic HoldCo's insolvency by causing Basic HoldCo to spend all of its cash on hand to buy a company the C&J Directors knew or should have known would decrease cash flow given market conditions at the time of the C&J Acquisition, and (ii) approving a sale of Basic to its controlling shareholder for little to no consideration without any process that would allow for a meaningful opportunity for competitive bidding and by refusing to consider, investigate, or promote available competitive alternative transactions. The C&J Directors argued that Count I should be dismissed because Basic HoldCo's charter exculpated directors from breach of duty of care claims. And the complaint did not sufficiently allege facts to question their independence in connection with a duty of loyalty claim, nor did it allege facts that could constitute bad faith. The complaint also did not detail how each director specifically lacked independence. Finally, they argued that the standard of review the Trustee seeks (entire fairness) was only relevant in evaluating the terms of the deal. In sum, the C&J Directors argued that no viable claim was alleged. Counts II and IV alleged that Schilling breached duties of care, loyalty, and good faith to the Subsidiaries and their creditors in connection with the C&J Acquisition and the Make-Whole Transaction. Schilling argued that the complaint failed to adequately plead that Basic LP or any other Subsidiary was insolvent. And that even if insolvency was adequately pled, the complaint did not plead facts showing he breached a duty of care or loyalty. Count III alleged a breach of fiduciary duty against the post C&J Acquisition Directors for delaying bankruptcy for the sole benefit of Ascribe. These Directors argued that this claim was a deepening insolvency claim that is not recognized under Delaware Law. In November 2025, the Court granted in part and denied in part the motions to dismiss. For Count I, the Court found that the complaint adequately pled Basic HoldCo's insolvency. Thus, the C&J Directors' fiduciary duties extended to Basic HoldCo's creditors. And that the complaint pled sufficient facts establishing that the C&J Directors lacked independence from, and acted to further the interest of, Ascribe rather than Basic with respect to the C&J Acquisition. Thus, the Trustee pled a plausible breach of the fiduciary duty of loyalty and good faith claims against the C&J Directors. The Court, however, dismissed the duty of care claim associated under Count I because the exculpation clause in Basic HoldCo's charter barred it under Delaware law. The Court found that the breach of fiduciary duty claims were adequately pled under Counts II and IV. But the claims were dismissed without prejudice because they were contingent on Basic LP and the other Subsidiaries being insolvent at the time of the C&J Acquisition and the Make-Whole Transaction. And there were not sufficient allegations that the Subsidiaries were insolvent. Count III was dismissed without prejudice because the Trustee did not allege conduct that could lead to liability for breach of fiduciary duty. Amended Complaint and Second Motion to Dismiss In December 2025, the Trustee filed an Amended Complaint. The Amended Complaint added information related to the Subsidiaries alleged insolvency, all relating to Counts II and IV. In January 2026, the Court approved a Joint Stipulation between the parties stating that the Trustee included Count III in the Amended Complaint solely to preserve that claim for purposes of appeal, and that Count III was not reasserted with any material changes. The Court reaffirms its dismissal of Count III. Defendants then moved to dismiss the Amended Complaint. Defendants restate many of their original arguments when seeking to dismiss the Amended Complaint but add a few new ones too. Defendants argue that Basic's confirmed chapter 11 plan and confirmation order bar the Trustee from suing Defendants based on the claims alleged in the Amended Complaint. They argue that Count I fails because some of the Trustee's new allegations undermine his claim that Basic HoldCo was insolvent and that the Trustee's allegations still do not plausibly establish HoldCo was insolvent under a balance sheet test or the cash flow test. They also argue the Trustee fails to plead that any of the Basic Directors breached a duty of loyalty or goof faith. And that the Amended Complaint fails to adequately plead that any Basic Director was interested in the C&J Acquisition. Defendants also seek dismissal of Counts II and IV of the Amended Complaint because the Trustee fails to adequately plead Basic LP's insolvency, and that it fails to adequately plead any breaches of fiduciary duties. Basic's confirmed chapter 11 plan released Basic Directors from claims relating to the debtors, except for claims determined by a final order to have constituted "actual fraud, willful misconduct or gross negligence." Defendants argue the confirmed plan's release provision requires dismissal of the Amended Complaint. The Court disagrees. The Court finds the Trustee adequately pleads the Defendants acted with gross negligence in Counts I, II, and IV. The Trustee has pled plausible claims for the breach of the duty of loyalty and good faith in the Amended Complaint. The plan and the related confirmation order do not prohibit the Trustee from asserting these claims against the Defendants. The Amended Complaint is full of fact allegations that the Defendants acted with gross negligence. The carveout for the plan releases requires a final order from a court. Thus, a final determination on the merits of these claims will determine whether the plan releases bar the Trustee's claims. The motion to dismiss Counts I, II, and IV on plan release grounds, however, is denied. The duty of care claim under Count I is dismissed with prejudice. The motion to dismiss is denied as to all other claims under Counts I, II, and IV. Count III remains dismissed. A copy of the Court's Order dated June 15, 2026, is available at https://urlcurt.com/u?l=nKLJD3 from PacerMonitor.com. About Basic Energy Services Basic Energy Services, Inc. -- http://www.basices.com/-- provides wellsite services essential to maintaining production from the oil and gas wells within its operating areas. Its operations are managed regionally and are concentrated in major United States onshore oil-producing regions located in Texas, California, New Mexico, Oklahoma, Arkansas, Louisiana, Wyoming, North Dakota, Colorado and Montana. Specifically, Basic Energy Services has a significant presence in the Permian Basin, Bakken, Los Angeles and San Joaquin Basins, Eagle Ford, Haynesville and Powder River Basin. Basic Energy Services and 12 affiliates sought Chapter 11 protection (Bankr. S.D. Tex. Lead Case No. 21-90002) on Aug. 17, 2021. As of March 31, 2021, Basic Energy disclosed total assets of $331 million and debt of $549 million. Judge David R. Jones oversees the cases. The Debtors tapped Weil, Gotshal & Manges LLP as legal counsel, Alixpartners LLP as restructuring advisor, and Lazard Freres & Company as financial advisor. Prime Clerk is the claims agent. The U.S. Trustee for Region 7 appointed an official committee of unsecured creditors in the Debtors' Chapter 11 cases. Snow & Green, LLP and Brown Rudnick, LLP serve as the committee's legal counsel. * * * C&J Well Services had been owned by Fort Worth-based Basic Energy Services Inc., which last 2021 paid about $94 million for its California operations. Dallas-based Berry bought it out of Basic's bankruptcy case, effective Oct. 1, 2021 for about $43 million. Already under Berry's control, C&J formally became a subsidiary of the oil producer by Nov. 1, 2021 and its 910 employees -- 97% of its payroll under Basic -- joined Berry's 347 employees engaged in oil exploration and production. BAYLIE'S SQUARE: Seeks Approval to Tap Bleakley Bavol as Counsel ---------------------------------------------------------------- Baylie's Square, Incorporated seeks approval from the U.S. Bankruptcy Court for the Middle District of Florida to hire Bleakley Bavol Denman & Grace to serve as its bankruptcy counsel. The firm will provide these services: (a) analysis of the financial situation and rendering advice and assistance to the Debtor in determining legal options under Title 11, United States Code; (b) advising the Debtor with regard to the powers and duties of the Debtor and as Debtor-in-Possession in the continued operation of the business and management of the property of the estate; (c) preparation and filing of the petition, schedules of assets and liabilities, statement of affairs, and other documents as required by the Court; (d) representation of the Debtor at the Section 341 Meeting of Creditors; (e) advising the Debtor with respect to compliance with the United States Trustee's Operating Guidelines and Reporting Requirements and with the rules of the court; (f) preparing necessary motions, pleadings, applications, answers, orders, complaints, and other legal papers and appearing at hearings; (g) protecting the interests of the Debtor in all matters pending before the court; (h) representing the Debtor in negotiation with its creditors in the preparation of the Chapter 11 Plan; and (i) performing all other legal services for the Debtor as Debtor-in-Possession as may be necessary. Bleakley Bavol Denman & Grace will receive compensation at an hourly rate of $425 for services rendered by Samantha L. Dammer, subject to periodic adjustment, plus reimbursement of actual and necessary expenses. The Debtor paid a prepetition advance fee totaling $16,738, including a $2,000 pre-filing retainer, $1,738 filing fee advancement, and a $10,000 post-filing retainer. The firm will apply the advanced fees to its billing subject to Court approval. Bleakley Bavol Denman & Grace is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code, according to court filings. The firm can be reached at: Samantha L. Dammer, Esq. BLEAKLEY BAVOL DENMAN & GRACE 15316 N. Florida Avenue Tampa, FL 33613 Telephone: (813) 221-3759 Facsimile: (813) 221-3198 E-mail: sdammer@bbdglaw.com About Baylie's Square, Incorporated Baylie’s Square, Incorporated sought protection under Chapter 11 of the Bankruptcy Code (Bankr. M.D. Fla., Tampa Division Case No. 8:26-bk-05017) on June 11, 2026. At the time of the filing, Debtor had estimated assets of between $100,001 and $500,000 and liabilities of between $500,001 and $1 million. BEASLEY BROADCAST: Sets $5.24 Million ATM Offering -------------------------------------------------- Beasley Broadcast Group Inc. entered into an equity distribution agreement with Noble Capital Markets Inc. to sell up to $5.24 million of Class A common stock through an at-the-market offering program, according to a filing with the Securities and Exchange Commission. The company said shares may be sold through ordinary broker transactions on Nasdaq, at prevailing market prices, in negotiated transactions or as otherwise agreed with the sales agent. Beasley said actual sales will depend on market conditions, trading prices, capital needs and its determination of appropriate funding sources. The shares will be offered under a shelf registration statement declared effective June 4. About Beasley Broadcast Beasley Broadcast Group Inc., based in Naples, Florida, is a multi-platform media company that operates radio stations in U.S. markets and offers advertisers marketing solutions across audio, digital and event platforms. Crowe LLP, which has served as Beasley's auditor since 2006, included a going-concern paragraph in its April 8, 2026, audit report, citing a history of net losses and negative operating cash flows, expected additional losses and a default on a portion of its debt. As of March 31, 2026, Beasley Broadcast reported total assets of $281.51 million, total liabilities of $327.57 million and a stockholders' deficit of $46.07 million. BLACKBEARD'S TRIPLE: Gets Extension to Access Cash Collateral ------------------------------------------------------------- The U.S. Bankruptcy Court for the Eastern District of North Carolina, New Bern Division, entered a seventh interim order allowing Blackbeard's Triple Play, LLC to continue using cash collateral. Under the seventh interim order, The Debtor is authorized to use cash collateral through July 11, strictly for ordinary and necessary operating expenses in line with an approved budget, with up to a 10% variance per line item. The funds must be segregated and not commingled, and the Debtor must provide financial reporting, access to records, and ongoing transparency to secured creditors. The Debtor projects total operational expenses of $176,454.45 for the period from June 11 to July 11. The Debtor has identified multiple creditors that may assert liens on its accounts, accounts receivable, and related cash collateral, led by Newtek Bank, N.A., which the Debtor believes holds a first-priority lien from an SBA loan with an estimated balance of $454,293. Other asserted lienholders include Idea 247, Inc., US Foods, Inc., and various merchant cash advance and financing entities, each holding successively lower-priority UCC-filed security interests in accounts or receivables. The Debtor reports no known federal or state tax liens. As adequate protection, the court granted these secured creditors replacement liens on the Debtor's assets, maintaining the same priority, scope, and validity as their pre-bankruptcy liens. The Debtor must also make a specific adequate protection payment of $7,414.45 to Newtek by July 1 while all parties preserve rights to seek additional protections or challenge lien validity. Noncompliance with the budget and reporting requirements and conversion of the Debtor's Chapter 11 case to one under Chapter 7 constitutes a default that may immediately terminate the Debtor's authority to use cash collateral. A further hearing is scheduled for July 7. A copy of the court's order is available at https://sl1nk.com/05qlwhp from PacerMonitor.com. About Blackbeard's Triple Play Inc. Blackbeard's Triple Play, Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. N.C. Case No. 25-04908-5-DMW) on December 10, 2025. In the petition signed by Billy Dale Overbee, president, the Debtor disclosed up to $50,000 in assets and up to $10 million in liabilities. Judge David M. Warren oversees the case. David J. Haidt, Esq., at Ayers & Haidt, PA, represents the Debtor as legal counsel. BOBBY DEE: Court OKs Deal to Use FFB Bank's Cash Collateral ----------------------------------------------------------- The U.S. Bankruptcy Court for the Central District of California, Los Angeles Division, entered an interim order approving a stipulation between Bobby Dee Presents, Inc. and FFB Bank for the limited use of cash collateral. Under the stipulation, the Debtor is authorized to use cash collateral until 5:00 p.m. (Pacific Time) on July 28. The Debtor is required to comply strictly with the agreed budget, reporting obligations, milestones, and all other terms of the stipulation. FFB Bank asserts that the Debtor owes at least $4.72 million, plus accrued interest, fees, costs, and expenses under various loan documents. The lender claims perfected, first-priority liens on substantially all of the Debtor's assets, including cash, accounts, inventory, equipment, deposit accounts, proceeds, and general intangibles, and the Debtor acknowledges that these assets constitute cash collateral under section 363(a) of the Bankruptcy Code. As protection, FFB Bank will receive replacement liens and a monthly payment of $35,000 beginning on June 30. If the Debtor defaults and fails to cure within the required notice period, its authority to use cash collateral automatically terminates and FFB Bank may exercise its remedies. The court scheduled a final hearing for July 28. The court order is available at https://shorturl.at/UfDA6 from PacerMonitor.com. About Bobby Dee Presents Inc. Bobby Dee Presents, Inc. is a California-based company engaged in artist management, concerts, festivals, and restaurant operations. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C. D. Cal. Case No. 2:26-bk-13477-NB) on April 10, 2026. In the petition signed by Robert Drieslein, chief executive officer, the Debtor disclosed up to $10 million in both assets and liabilities. Judge Neil W. Bason oversees the case. Marc Aaron Goldbach, Esq., at Goldbach Law Group, represents the Debtor as legal counsel. FFB Bank, as lender is represented by: Don J. Pool, Esq. Fennemore, LLP 8080 N Palm Avenue, Third Floor Fresno, CA 93711 Tel: (559) 432-4500 Fax: (559) 432-4590 dpool@fennemorelaw.com BRD LAND: Gets Interim OK to Use Cash Collateral Until July 31 -------------------------------------------------------------- BRD Land & Investment and its affiliated debtors received third interim approval from the U.S. Bankruptcy Court for the Western District of North Carolina to use cash collateral. Under the third interim order, the Debtors are authorized to use cash collateral on an interim basis through July 31 in accordance with an approved budget. The budget permits the Debtors to continue ordinary business operations and includes carve-outs for professional fees incurred by both the Debtors and the creditors' committee. The Debtors may also exceed budgeted amounts by up to a cumulative 10% variance without obtaining further court approval. In addition, the Debtors must provide detailed weekly financial reports, including cash receipts and disbursements, accounts receivable activity, and cash balances, to the committee, DLP, and the Bankruptcy Administrator. The Debtors, which are involved in land entitlement, permitting, and real estate development activities, acknowledged that several creditors, including DLP, certain noteholders, and other lenders, claim security interests in their cash collateral. For purposes of the interim order, the court assumed the validity and perfection of these creditors' asserted liens but expressly preserved the Debtors', the creditors' committee's, and other parties’ rights to challenge the nature, validity, priority, or extent of those liens in future proceedings. As additional protection for secured creditors, the Debtors agreed to sequester $17,306.18 in counsel's trust account pending further proceedings, without prejudice to any party's rights regarding those funds. The court scheduled a fourth interim hearing for July 8. A copy of the court's order and the Debtor's budget is available at https://sl1nk.com/ohnmylh from PacerMonitor.com. About BRD Land & Investment BRD Land & Investment filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. W.D.N.C. Case No. 26-30215) on February 24, 2026, listing $10,000,001 to $50 million in assets and $50,000,001 to $100 million in liabilities. Judge Laura T Beyer presides over the case. Matthew L Tomsic, Esq., at Rayburn Cooper Durham P.A., and GreerWalker, LLP serve as the Debtor's legal counsel and financial advisor, respectively. The official committee of unsecured creditors appointed in the Debtors' cases tapped Fox Rothschild, LLP as legal counsel and IslandDundon, LLC as financial advisor. BREASHEARS ROOFING: Mark Dennis Named Subchapter V Trustee ---------------------------------------------------------- The Acting U.S. Trustee for Region 19 appointed Mark Dennis, a certified public accountant at SL Biggs, as Subchapter V trustee for Breashears Roofing. Mr. Dennis 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. Dennis 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 D. Dennis, CPA SL Biggs, A Division of SingerLewak, LLP 2000 S. Colorado Blvd., Tower 2, Ste. 200 Denver, CO 80222 Phone: 303-226-5471 Email: mdennis@slbiggs.com About Breashears Roofing Breashears Roofing is a Monument, Colorado-based roofing contractor providing commercial and residential roofing services to commercial property owners, homeowners, property managers, and building owners. It serves the greater Colorado Springs area, the Western Slope, and the Intermountain area. Breashears Roofing filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. D. Colo. Case No. 26-14092) on June 8, 2026, with $100,001 to $500,000 in assets and $1 million to $10 million in liabilities. Judge Thomas B. Mcnamara presides over the case. Jonathan Dickey, Esq., at Kutner Brinen Dickey Riley, P.C. represents the Debtor as legal counsel. BTB PIZZA: Paul Levine Named Subchapter V Trustee ------------------------------------------------- The U.S. Trustee for Region 2 appointed Paul Levine, Esq., at Lemery Greisler, LLC as Subchapter V trustee for BTB Pizza Inc. Mr. Levine will be paid an hourly fee of $480 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Levine declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Paul A. Levine, Esq. Lemery Greisler, LLC 677 Broadway, 8th Floor Albany, New York 12207 Tel: (518) 433-8800 x313 | Email: plevine@lemerygreisler.com About BTB Pizza Inc. BTB Pizza Inc. filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. W.D. N.Y. Case No. 26-20422) on June 4, 2026, with up to $50,000 in assets and $100,001 to $500,000 in liabilities. Judge Carl L. Bucki presides over the case. Raymond C. Stilwell, Esq., represents the Debtor as legal counsel. BW GAS: S&P Alters Outlook to Positive, Affirms 'B' ICR ------------------------------------------------------- S&P Global Ratings affirmed all of its ratings, including the 'B' issuer credit rating on U.S.-based BW Gas and Convenience Holdings. S&P also revised its outlook to positive from stable. The positive outlook reflects the potential for a higher rating over the next 12 months if BW Gas continues to grow its operating scale and EBITDA generation while sustaining leverage below 5x. BW Gas posted better-than-expected operating results year to date and lower S&P Global Ratings-adjusted leverage following the IPO. The IPO raised net proceeds of approximately $322 million, which were used to fully redeem $252 million of preferred equity, pay transaction expenses, and repay $10 million of revolver borrowings. S&P said, "Pro forma for the paydown, we estimate S&P Global Ratings-adjusted leverage declined to low-4x, compared to 5.2x as of March 31, 2026. We forecast S&P Global Ratings-adjusted leverage will likely be generally below 5x. In addition, we expect adjusted EBITDA interest coverage will improve to 3.2x this year, from 1.8x, as a result of the preferred redemption." S&P has revised its financial policy modifier to FS-5 from FS-6 and now view its financial risk profile as aggressive. This reflects the improved credit metrics, but also that BW Gas remains a financial sponsor-controlled company. High fuel margins support adjusted EBITDA growing 19% to $248 million this year. Volatility in fuel prices from the Iran war has led to outsized year-to-date fuel margins. Cents per gallon (CPG) was 49 cents in the first quarter, up about 37% compared to the first quarter of last year. In addition, the company's efforts to upgrade its pumps and add more diesel pumps to its stores, including small-flow pumps in its legacy stores, has improved operating results. Diesel penetration improved to high-30%, and newer locations typically have a higher mix of diesel compared with legacy stores. Adjusted EBITDA grew to $66 million in first-quarter 2026, compared to $30 million in the first quarter of last year. S&P expects CPG will remain elevated in the near term because of heightened volatility before moderating to low-40 cents. Greater inside sales margin stemming from price action taken at the end of 2025 as well as improved product mix from new stores operating with higher food service contribution have also supported profitability. S&P forecasts adjusted EBITDA margins will increase to 9.1% this year--a 130-bps improvement--before moderating to low-8% in 2027. This leads to adjusted EBITDA of $249 million in 2026 and $228 million in 2027. S&P expects capital spending will grow over the next 12 months as new store openings accelerate. The company's growth strategy is focused on new builds, and it has outlined plans to open approximately 130 new locations over the next five years. The company is planning to open between six to eight new stores in 2026, ramping up to 26 in 2027. BW Gas' store footprint is primarily concentrated in Texas, New Mexico, and Oklahoma, with plans to expand into Arizona this year. The company is also exiting from the Iowa and Kansas markets (29 stores) later this year, which will result in a net store reduction in 2026. In S&P's view, peers with greater geographic diversification benefit from greater operational flexibility. Prior to last year, the company operated at a FOCF deficit due to high growth capital expenditure (capex). S&P expects capex of around $95 million this year to fund new builds and store remodels. Although S&P expects BW Gas will continue spending on growth capex, S&P forecasts the company will generate FOCF of $65 million this year and moderate to about $50 million in 2027 based on normalized CPG trends. Despite good performance trends and positive near-term momentum, visibility into how sustainable BW Gas' recent outperformance is limited. Furthermore, BW Gas' size and scale lag higher rated peers, resulting in lower EBITDA and FOCF. Additionally, its geographic concentration increases its vulnerability to localized economic or weather disruptions. As a result, S&P applies a negative comparable rating analysis adjustment, which is a holistic view of the overall credit profile. The positive outlook reflects the potential for a higher rating over the next 12 months if BW Gas can expand its EBITDA base and FOCF generation while sustaining leverage below 5x. S&P could revise its outlook to stable if S&P expects leverage will sustain above 5x. This could occur if: -- EBITDA generation and FOCF moderate relative to S&P's expectations, possibly due to deteriorating macroeconomic conditions, intensifying competition, or execution issues; or -- The company pursues a more aggressive financial policy, including debt-funded M&A or shareholder returns, leading to higher leverage than S&P currently forecasts. S&P could raise S&P's rating on BW Gas if: -- S&P Global Ratings-adjusted leverage remains below 5x; and -- The company demonstrates sustained operating performance gains, including adjusted EBITDA expansion and growth in its store fleet, supporting at least $50 million of FOCF. CALIFORNIA RESOURCES: S&P Rates New Senior Unsecured Notes 'BB-' ---------------------------------------------------------------- S&P Global Ratings assigned its 'BB-' issue-level rating and '2' recovery rating to U.S.-based oil and gas exploration and production company California Resources Corp.'s (B+/Stable/--) proposed $550 million senior unsecured notes due in 2035. The '2' recovery rating indicates its expectation for substantial (70%-90%; rounded estimate: 85%) recovery to creditors in the event of a payment default. The notes will rank pari passu with the company's 7%, $750 million senior unsecured notes due in 2034. California Resources intends to use the net proceeds, with borrowings under its revolving reserve-based lending (RBL) credit facility and cash on hand, to redeem its remaining $550 million aggregate principal 8.25% senior unsecured notes due in June 2029 (plus accrued and unpaid interest). The notes will be guaranteed by all existing subsidiaries that also guarantee the company's RBL and its 7% senior unsecured notes due 2034. As of May 31, 2026, California Resources had approximately $32 million cash and cash equivalents (excluding $14 million restricted cash) and no balance outstanding under the RBL, with $1.46 million of elected commitments available. S&P said, "The leverage-neutral transaction does not affect our view of the company's credit risk, though it will improve the weighted-average maturity of its capital structure. Therefore, our 'B+' issuer credit rating and stable outlook on California Resources are unchanged." Issue Ratings--Recovery Analysis Key analytical factors -- S&P's simulated default scenario assumes sustained low commodity prices consistent with the conditions of past defaults in this sector. -- S&P bases its valuation of California Resources' reserves on a company-provided PV-10 report as of Dec. 31, 2025, using its recovery price deck assumptions of $50 per barrel for West Texas Intermediate crude oil and $2.50 per million Btu for Henry Hub natural gas. -- S&P's recovery analysis incorporates the $1.46 billion RBL maturing in March 2029, which it assumes is fully drawn under our default scenario. -- S&P caps its recovery rating on California's senior unsecured claims at '2'. S&P generally caps unsecured debt issued by corporate entities that it rates in the 'B' category at '2' (70%-90% recovery) to account for the risk of additional priority or pari passu debt on the path to a hypothetical default. Simulated default assumptions -- Simulated year of default: 2030 -- Jurisdiction (Rank A): Company headquartered in the U.S. and all revenue and assets located domestically -- Gross enterprise value: Adjusted to account for restructuring administrative costs (estimated at about 5% of gross value) Simplified waterfall -- Net enterprise value (after 5% in administrative costs): $4.07 billion -- Secured claims: $1.33 billion --Recovery expectations: Not applicable -- Remaining value available to unsecured claims: $2.75 billion -- Senior unsecured claims: $1.35 billion --Recovery expectations: 70%-90% (rounded estimate: 85%) All debt amounts include six months of prepetition interest. CAROLINA EARTHWERX: Hires Law Offices of George Oliver as Counsel ----------------------------------------------------------------- Carolina Earthwerx, LLC seeks approval from the U.S. Bankruptcy Court for the Eastern District of North Carolina to hire George Mason Oliver, Esq. of The Law Offices of George Oliver, PLLC to serve as legal counsel. Mr. Oliver will provide these services: (a) represent and assist the Debtor in carrying out its duties under Chapter 11 of the Bankruptcy Code; (b) represent the estate generally throughout the administration of the Chapter 11 proceeding; (c) provide legal advice and representation to the Debtor and Debtor-in-Possession in connection with the case; and (d) perform all other general legal services necessary in the Chapter 11 proceedings. Mr. Oliver is compensated on an hourly basis. The filing discloses approximately $9,300 in charges in the case and $1,738 for the Chapter 11 filing fee, with a portion of funds held in trust and subject to court approval for payment of post-petition fees and expenses. The Law Offices of George Oliver, PLLC is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code, according to court filings. The firm can be reached at: George Mason Oliver, Esq. The Law Offices of George Oliver, PLLC PO Box 1548 New Bern, NC 28563 Telephone: (252) 635-1950 / (252) 633-1933 About Carolina Earthwerx, LLC Carolina EarthWerx is a veteran-owned small business based in Stella, North Carolina. The company provides land-management and site-work services, including excavation and grading, drainage and septic-system installation, land clearing and forestry mulching, demolition, site preparation, and trucking. It serves residential, commercial, and agricultural projects in Eastern North Carolina, including Onslow, Carteret, Craven, Jones, Duplin, Lenoir, and Pender counties. Carolina Earthwerx, LLC sought protection under Chapter 11 of the Bankruptcy Code (Bankr. E.D.N.C. Case No. 26-bk-02509) on June 3, 2026. At the time of the filing, Debtor had estimated assets of between $100,001 and $500,000 and liabilities of between $1,000,001 and $10 million. Judge Pamela W. Mcafee oversees the case. The Law Offices of George Oliver, PLLC is Debtor's legal counsel. CASPIAN INDUSTRIAL: Edward Burr Named Subchapter V Trustee ---------------------------------------------------------- The U.S. Trustee for Region 17 appointed Edward Burr of Mac Restructuring Advisors, LLC as Subchapter V trustee for Caspian Industrial Investments, Inc. Mr. Burr 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. Burr declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Edward Burr Mac Restructuring Advisors, LLC 10191 E. Shangri La Road Scottsdale, AZ 85260 Phone: (602) 418-2906 Email: Ted@macrestructuring.com About Caspian Industrial Investments Inc. Caspian Industrial Investments, Inc. owns in fee simple an industrial property located at 1710 Western Ave, Las Vegas, Nevada. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Nevada Case No. 26-12372) on April 16, 2026, with assets of up to $50,000 and liabilities of between $1 million and $10 million. David Habibian, authorized representative of the Debtor, signed the petition. David J. Winterton, Esq., at David Winterton & Associates Ltd. represents the Debtor as legal counsel. CHEESE SHOP: Gets Interim OK to Use Cash Collateral --------------------------------------------------- The U.S. Bankruptcy Court for the Middle District of North Carolina issued an interim order authorizing The Cheese Shop LLC to use cash collateral. Under the order, the Debtor may use cash collateral to pay necessary and reasonable operating expenses in accordance with an approved budget. Any expenditure exceeding a budgeted line item by more than 10% requires prior approval from the secured parties, the Subchapter V trustee, and the Bankruptcy Administrator, although approval is deemed granted if a secured party fails to respond within 24 hours. The Debtor must maintain debtor-in-possession accounts, deposit all business receipts into those accounts, timely pay taxes and insurance obligations, provide monthly reports, and remit $1,500 during the interim period toward Subchapter V trustee fees. The Debtor projects total operational expenses of $69,695 for the period from May 29 to June 30. As adequate protection, the secured parties received post-petition replacement liens on collateral to the same extent and priority as their prepetition liens. The interim order remains effective through June 30, unless terminated earlier by court order, default, or agreement of the parties. A default may occur if the Debtor violates the order, misuses cash collateral, fails to file a required plan, loses insurance coverage, or ceases operations. Objections to continued use of cash collateral must be filed by June 29, and if objections are filed, a further hearing is scheduled for June 30. About The Cheese Shop, LLC The Cheese Shop, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D.N.C. Case No. 26-80175) with $100,001 to $500,000 in assets and $1,000,001 to $10 million in laibilities. The petition was signed by Stevie Lee Webb as managing member. Judge Hon. Benjamin A Kahn oversees the case. The Debtor is represented by: Lydia C. Carpenter Hendren, Redwine & Malone, PLLC Tel: 919-420-7867 Email: lstoney@hendrenmalone.com CHS FL: Seeks Court Approval to Hire Polsinelli as Legal Counsel ---------------------------------------------------------------- CHS FL, LLC and its affiliates seek approval from the U.S. Bankruptcy Court for the Middle District of Florida to hire Polsinelli PC to serve as legal counsel. The firm will provide these services: (a) take all necessary action to protect and preserve the estates of the Debtors, including prosecution and defense of actions, negotiation of disputes, and preparation of objections to claims filed against the Debtors' estates; (b) provide legal advice with respect to the Debtors' powers and duties as debtors in possession in the continued operation of their business; (c) prepare on behalf of the Debtors necessary motions, applications, answers, orders, reports, and other legal papers in connection with the administration of the estates; (d) appear in court and protect the interests of the Debtors before the Bankruptcy Court; (e) assist with any disposition of the Debtors' assets, by sale or otherwise; (f) take actions in connection with any plan of reorganization and related disclosure statement and documents; (g) review all pleadings filed in the Chapter 11 cases; and (h) perform all other legal services in connection with the Chapter 11 cases as may reasonably be required. Polsinelli PC will receive hourly rates ranging from $700 to $1,495 for shareholders, $485 to $700 for associates, and $450 for paraprofessionals. The firm has also disclosed $49,062.15 in fees and expenses paid in the 12 months prior to the Petition Date and holds a remaining retainer of $175,937.85. Polsinelli PC is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code, according to court filings. The firm can be reached at: Jeremy R. Johnson, Esq. POLSINELLI PC 600 Third Avenue, 42nd Floor New York, NY 10016 About CHS FL, LLC, et al. CHS FL, LLC, et al. sought protection under Chapter 11 of the Bankruptcy Code (Bankr. M.D. Fla. Case No. 2:26-bk-01087-FMR) on May 8 and May 13, 2026. At the time of the filing, the Debtors had estimated assets of between $50,000,001 and $100 million and liabilities of between $100,000,001 and $500 million. Judge Luis Ernesto Rivera II oversees the case. Dal Lago Law is Debtor's legal counsel. CN HOLDINGS: Seeks Cash Collateral Access ----------------------------------------- CN Holdings, LLC asks the U.S. Bankruptcy Court for the District of Utah for authority to use cash collateral and provide adequate protection, through at least September 19. The request follows a prior final cash collateral order that authorized such use through June 20. The Debtor asks the court to approve continued access to cash collateral under a supplemental 13-week operating budget and to maintain the same adequate protection arrangement previously approved for secured creditors. The Debtor filed for Chapter 11 protection on March 23 after determining it could not continue operations without restructuring. Its primary objective in bankruptcy is to sell underperforming franchise locations while preserving and maximizing the value of profitable stores through an orderly sale process. It argues that continued operations are essential to maintaining the value of its franchise assets as going concerns. The Debtor explains that the restaurants depend on weekly purchases of inventory, including bread, meat, cheese, produce, and other food products. Revenue generated from customer sales is then used to purchase replacement inventory for future operations. Because these sales proceeds constitute cash collateral subject to secured creditors' interests, the Debtor requires either creditor consent or court authorization to use the funds. To protect secured creditors, the Debtor proposes continuing the adequate protection previously approved by the court. Specifically, creditors holding liens on the collateral would receive replacement liens that mirror their pre-petition security interests in terms of priority, collateral coverage, and extent. The Debtor contends that these replacement liens adequately safeguard creditor interests while allowing the business to remain operational and preserve enterprise value. A copy of the motion is available at https://urlcurt.com/u?l=YQYcdA from PacerMonitor.com. About CN Holdings LLC CN Holdings, LLC, doing business as Firehouse Subs of SE Idaho and Utah, operates Firehouse Subs restaurants as a franchisee, a fast-casual chain specializing in submarine sandwiches that serves hot subs prepared with meats and cheeses across North America. The company was formed through the merger of 2C Inferno LLC, 4C&N, LLC, and Ignacious Endeavors, LLC on Jan. 23, 2026. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Utah Case No. 26-21555) on March 23, 2026, with $0 to $50,000 in assets and $1 million to $10 million in liabilities. Christopher Morris, manager, signed the petition. Judge Michael F. Thomson presides over the case. Brian M. Rothschild, Esq., at Parsons Behle & Latimer represents the Debtor as legal counsel. COW CREEK: Ongoing Operations to Fund Plan Payments --------------------------------------------------- Cow Creek Towing & Recovery LLC filed with the U.S. Bankruptcy Court for the Northern District of Mississippi a Disclosure Statement describing Plan of Reorganization dated June 5, 2026. The Debtor was founded in March of 2015 when Matt Bollinger and Casey Finn purchased Tedford's Wrecker Service and established operations in Bruce, Mississippi. What began as a small, single-truck operation quickly gained traction. By March of 2017, Cow Creek Towing expanded into Pontotoc, Mississippi, adding more equipment and increasing call volume to 25–30 calls per week. In 2019, Cow Creek Towing expanded further by acquiring Union County Wrecker and opening a fourth location in New Albany, Mississippi. However, beginning in late 2021 and into 2022, the business environment began to shift dramatically. The economic effects following COVID-19, particularly the end of government stimulus and "free money," led to a sharp decline in both accident volume and the ability of customers to pay for services. From 2022 through 2025, the challenges compounded. Insurance companies became increasingly difficult to work with, frequently delaying or denying claim payments. Ultimately, it was not a single issue that led to the decline of Cow Creek Towing, but rather a convergence of economic, regulatory, and industry-specific challenges. Reduced insurance coverage among customers, non-payment of claims, rising operational costs, and systemic gaps in enforcement created an environment where sustaining the business became untenable. Cow Creek Towing's journey reflects both the potential for rapid growth through hard work and strategic expansion, and the vulnerability of small businesses to external economic pressures beyond their control. Despite years of success and community service, these compounding challenges ultimately led to financial hardship and bankruptcy. The Debtor will pay its creditors from the ongoing operation of the business. The Debtor has made strides while reducing overhead. The Debtor has negotiated payments to various creditors to reduce the monthly expense to maintain its fleet while curing its defaults on payments. Class 18 consists of General, Unsecured Claims. The Debtor will pay all allowed unsecured claims that are determined by a final order of this Court. These claims will not include interest or attorneys' fees as they are unsecured. Creditors that have filed claims as secured will be given an opportunity to file deficiency claims if they have taken back their collateral and properly liquidated it. Creditors whose claims were listed as unliquidated, disputed or contingent and did not timely file claims will not have an allowed unsecured claim. Debtor will create a fund of $60,000.00 per year to be disbursed pro rata to allowed unsecured claims beginning 12 months from the date the confirmation order becomes final and non appealable. The General, Unsecured Claims are impaired. Casey Smith Finn will continue as the owner and manager of Cow Creek Towing & Recovery LLC. The Plan is feasible. The Debtor has prepared a projection based on past performance but, including adjustments for increased income and improving collections. The Debtor has also made adjustments in expenses such a reducing payments to principals and reducing equipment payments. A full-text copy of the Disclosure Statement dated June 5, 2026 is available at https://urlcurt.com/u?l=y72Fm2 from PacerMonitor.com at no charge. Cow Creek Towing & Recovery LLC: J. Walter Newman IV, Esq. Newman & Newman 601 Renaissance Way, Suite A Telephone: (601) 948-0586 Email: wnewman95@msn.com About Cow Creek Towing & Recover LLC Cow Creek Towing & Recovery LLC provides towing and roadside assistance services across northeast Mississippi, operating multiple locations. The Company offers accident recovery, heavy-duty towing, and flatbed towing, supported by certified tow truck operators and specialized equipment. It also provides hazardous spill cleanup services as part of its towing and recovery operations. Cow Creek Towing & Recovery LLC in Pontotoc, MS, sought relief under Chapter 11 of the Bankruptcy Code filed its voluntary petition for Chapter 11 protection (Bankr. N.D. Miss. Case No. 25-13765) on Nov. 4, 2025, listing as much as $1 million to $10 million in both assets and liabilities. Casey Smith Finn signed the petition as member. Judge Jason D. Woodard oversees the case. NEWMAN & NEWMAN serves as the Debtor's legal counsel. CPI HOLDCO: S&P Alters Outlook to Negative, Affirms 'B' ICR ----------------------------------------------------------- S&P Global Ratings affirmed its 'B' long-term issuer credit rating and revised the outlook to negative from stable. S&P also affirmed the 'B' issue-level and '3' recovery ratings (50%-70%; rounded estimate: 50%) on its first-lien debt. The negative outlook reflects the risk of stagnant revenue improvement and pressured profitability for longer than S&P expects. If they do not improve over the next 12 months, S&P believes cash flow after shareholder distributions will remain negative for longer. Antylia underperformed S&P's revenue growth and profitability expectations in 2025 due primarily to weak demand. S&P expects profitability will continue to be burdened in 2026 due to elevated one-time costs and labor pressures and no meaningful cash flow until at least 2027. S&P said, "Antylia's revenue was lower than expected in 2025, we expect improvement in 2026. Growth stagnated due to lower demand in the sample preparation and respiratory segments. In the first quarter of 2026, revenue increased approximately 3%, mainly on improved pricing to pass on tariff impact, though demand in certain segments remained challenged. For the full year, we expect about a 3% revenue increase, supported by continued strength in fluid handling and traceable products and stable environmental segment demand. This will be largely because of price rather than volume, which continues to be constrained by lower respiratory testing and ongoing weakness in sample preparation and China-exposed end markets in the short term. "We expect organic revenue growth will remain 1%-2% in 2027 due to stabilizing demand in overall life sciences and diagnostics, increased sales efforts, and expansion in the US and European market." Antylia also indicated that it will pursue acquisitions in the second half of 2026, which could increase overall revenue expansion approaching 8% in 2027. Profitability will be compressed through 2026, resulting in cash flow deficits. S&P Global Ratings-adjusted EBITDA margin declined substantially approximately 460 basis points (bps) to 19% year over year in the last twelve months ending first quarter which compares to the same period last year. S&P said, "We anticipate overall margin compression of 100-150 bps in 2026 from 2025, remaining in the 19%-20% range as increased commercial investments in 2026 to drive sales volume, elevated spending on one-time transformation initiatives (such as creation of enterprise data warehouse and digital sales tools), elevated labor costs, and continued inflationary pressures drag on Antylia. We expect EBITDA margin to improve to about 25% in 2027 as one-time expenses roll off and Antylia begins to benefit from cost saving initiatives implemented over the last two years. These include site consolidation, people optimization, implementation of lean practices, and opportunistic sourcing initiatives. We expect Antylia to benefit from roughly 50% of the cost saving initiatives by 2027 and the remainder by 2028." S&P expects reported free operating cash flow (FOCF) to be breakeven to negative in 2026 as constrained profitability and elevated capital spending offset lower interest expenses. However, cash flow improvement will rise above the downgrade threshold of 3% starting in 2027 as earlier initiatives bear fruit and one-time costs roll off. Leverage remains elevated in 2026, with modest improvements over the next few years. S&P said, "We project leverage will increase to 9.5x-10x in 2026 from continued lower EBITDA, then fall below the downgrade threshold of 7x starting in 2027 as Antylia improves EBITDA. While we anticipate some improvement in operating performance in 2027 as transformation initiatives mature and Antylia integrates acquisitions, the ultimate pace of recovery will depend on execution. "The negative outlook reflects the risk that revenue growth will remain stagnant and profitability pressured for longer than we expect. If these do not improve over the next 12 months, we believe cash flow after shareholder distributions will remain negative longer than we previously expected. "We could lower our rating to 'B-' if we believe Antylia cannot maintain S&P Global Ratings-adjusted FOCF to debt above 3% and leverage below 7x on a sustained basis." This could happen if: -- Organic revenue improvement stagnates, and the company cannot scale back on one-time costs and execute its cost saving plan; -- It pursues aggressive debt-funded acquisitions or faces integration challenges that burden profitability; or -- It adopts more aggressive shareholder-friendly initiatives, such as debt-financed dividends. S&P could revise its outlook to stable if it expects the company will generate cash flow over 3% on a sustained basis. This could occur if Antylia improves: -- Operating performance through value-creation and cost optimization initiatives. -- Revenue increases both organically and through integration of strategic acquisitions. CRYSTAL CARDENAS: Linda Leali Named Subchapter V Trustee -------------------------------------------------------- The Acting U.S. Trustee for Region 21 appointed Linda Leali, Esq., as Subchapter V trustee for Crystal Cardenas, PA. Ms. Leali 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. Leali declared that she is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Linda M. Leali Linda M. Leali, P.A. 2525 Ponce De Leon Blvd., Suite 300 Coral Gables, FL 33134 Telephone: (305) 341-0671, ext. 1 Facsimile: (786) 294-6671 Email: leali@lealilaw.com About Crystal Cardenas PA Crystal Cardenas, PA filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. S.D. Fla. Case No. 26-17457) on June 8, 2026, with assets of up to $50,000 and liabilities of between $100,001 and$500,000. Brian K. McMahon, Esq., represents the Debtor as legal counsel. CUSTOM PET: Carol Fox of GlassRatner Named Subchapter V Trustee --------------------------------------------------------------- The Acting U.S. Trustee for Region 21 appointed Carol Fox of GlassRatner as Subchapter V trustee for Custom Pet, LLC. Ms. Fox will be paid an hourly fee of $450 for her services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Ms. Fox declared that she is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Carol Fox GlassRatner 200 East Broward Blvd., Suite 1010 Fort Lauderdale, FL 33301 Tel: 954.859.5075 About Custom Pet LLC Custom Pet, LLC is a manufacturer and supplier of natural dog treats based in Hialeah, Fla. Custom Pet filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. S.D. Fla. Case No. 26-17431) on June 6, 2026, with between $1 million and $10 million in both assets and liabilities. Judge Corali Lopez-Castro presides over the case. Kristopher Aungst, Esq., at Paragon Law, LLC represents the Debtor as bankruptcy counsel. CUSTOM PET: Taps Paragon Law LLC as Legal Counsel ------------------------------------------------- Custom Pet LLC seeks approval from the U.S. Bankruptcy Court for the Southern District of Florida to hire Kristopher Aungst, Esq. and Paragon Law, LLC to serve as its general bankruptcy counsel. Mr. Aungst and Paragon Law, LLC will provide these services: (a) advise the Debtor with respect to their powers and duties as debtor and debtor-in-possession in the continued management and operation of his business and properties; (b) attend meetings and negotiate with representatives of creditors and other parties-in-interest and advise and consult on the conduct of the cases, including all the legal and administrative requirements of operating in Chapter 11; (c) advise the Debtor on matters relating to the evaluation of the assumption, rejection or assignment of unexpired leases and executory contracts; (f) provide advice to the Debtor with respect to legal issues arising in or relating to the Debtor's ordinary course of business; (g) take all necessary actions to protect and preserve the Debtor's estates, including the prosecution of actions on their behalf, the defense of any actions commenced against the estates, negotiations concerning all litigation in which the Debtor may be involved and objections to claims filed against the estate; (h) prepare on behalf of the Debtor all motions, applications, answers, orders, reports and papers necessary for the administration of the estates; (i) negotiate and prepare on the Debtor's behalf a plan of reorganization and all related agreements and/or documents, and take any necessary action on behalf of the Debtor to obtain confirmation of such plan; (j) attend meetings with third parties and participate in negotiations with respect to the above matters; and (k) appear before this Court and the U.S. Trustee to protect the interests of the Debtor's estates before such courts and the U.S. Trustee; (l) perform all other necessary legal services and provide all other necessary legal advice to the Debtor in connection with these Chapter 11 cases. Paragon Law, LLC will receive compensation as follows: – $600 per hour for Kristopher Aungst, Esq. (reduced from $650 per hour) – $200 per hour for paralegal services – $10,000 initial retainer, excluding the $1,738 Chapter 11 filing fee – $5,000 per month post-petition retainer held in trust, subject to Court approval — Quarterly fee applications seeking interim approval of 80% of fees and 100% of costs Paragon Law, LLC and Kristopher Aungst are stated to be "disinterested persons" within the meaning of Section 101(14) of the Bankruptcy Code and do not hold or represent any interest adverse to the Debtor's estate, according to court filings. The firm may be contacted at: Kristopher Aungst, Esq. PARAGON Law, LLC 2665 S Bayshore Dr, Suite 220-10 Miami, FL 33133 - and - PARAGON Law, LLC 121 Alhambra Plz, Suite 1500 Coral Gables, FL 33134 Telephone: (305) 812-5443 E-mail: ka@paragonlaw.miami About Custom Pet , LLC Custom Pet manufactures and supplies natural dog treats, including private-label, bulk and product-development offerings for pet-product distributors and brands. The Florida-based company's products include bully sticks, bones, rawhide, freeze-dried treats, collagen, chicken, pork and other beef-based pet snacks. CUSTOM PET, LLC sought protection under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Florida Case No. 26-17431-CLC) on June 6, 2026. At the time of the filing, Debtor had estimated assets of between $1,000,001 and $10 million and liabilities of between $1,000,001 and $10 million. Judge Corali Lopez-Castro oversees the case. Paragon Law, LLC is Debtor's legal counsel. CUSTOM PET: To Hire Young Foster PLLC as Special Litigation Counsel ------------------------------------------------------------------- Custom Pet, LLC seeks approval from the U.S. Bankruptcy Court for the Southern District of Florida to hire Michael C. Foster, Esq. of Young Foster PLLC to serve as special litigation counsel. Mr. Foster will provide these services: (a) provide legal services and advice to the Debtor in connection with litigation that may arise relative to the claims and defenses presented in ABL Credit, LLC v. TDBBS, LLC, et al., Case No. CACE-25-011179; and (b) address litigation matters relating to the validity or invalidity of creditor claims and the status of various creditors in the bankruptcy case. Mr. Foster will be compensated at a reduced hourly rate of $490 (from a customary rate of $650 per hour). The engagement also includes provisions for costs and an alternative fee recovery clause providing for higher rates if fees are awarded against third parties. Young Foster PLLC is certified as a "disinterested person" within the meaning of 11 U.S.C. Sec. 101(14), according to court filings. The firm can be reached at: Michael C. Foster, Esq. YOUNG FOSTER PLLC 2400 E Commercial Blvd, Suite 723 Fort Lauderdale, FL 33308 About Custom Pet , LLC Custom Pet manufactures and supplies natural dog treats, including private-label, bulk and product-development offerings for pet-product distributors and brands. The Florida-based company's products include bully sticks, bones, rawhide, freeze-dried treats, collagen, chicken, pork and other beef-based pet snacks. CUSTOM PET, LLC sought protection under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Florida Case No. 26-17431-CLC) on June 6, 2026. At the time of the filing, Debtor had estimated assets of between $1,000,001 and $10 million and liabilities of between $1,000,001 and $10 million. Judge Corali Lopez-Castro oversees the case. Paragon Law, LLC is Debtor's legal counsel. CYTOPHIL INC: Court Overrules HPA's Objection to Jannson Claim -------------------------------------------------------------- Judge G. Michael Halfenger of the U.S. Bankruptcy Court for the Eastern District of Wisconsin overruled Health Policy Associates' objection to allowance of creditor Jansson Munger & McKinley Ltd.'s claim in the bankruptcy case of Cytophil, Inc. Jansson's claim (claim number 10) is allowed as a non-priority unsecured claim in the amount of $1,327,902.28. In June 2015 Merz North America, Inc. sued Cytophil, Inc., in the United States District Court for the Eastern District of North Carolina alleging that Cytophil's Renu(R) Voice injectable vocal fold implant infringed Merz's patent. In August 2015 Cytophil engaged Jansson to represent it in its litigation with Merz. In April 2016, Cytophil -- represented by Jansson as part of the same engagement -- filed a complaint against Merz and its parent company in the United States District Court for the Eastern District of Wisconsin alleging that those parties had engaged in false marking under the Sec. 292 of the Patent Act, 35 U.S.C. Sec. 292, and unlawful monopolization under Sec. 2 of the Sherman Act, 15 U.S.C. Sec. 2. The parties reached a mediated settlement that resulted in the dismissal of all claims on June 6, 2019. Although Cytophil made regular partial payments to Jansson through April 2018, Cytophil owed the firm more than $1.3 million when the litigation concluded in 2019. In April 2025, Jansson filed proof of claim number 10, alleging that Cytophil owed it $1,327,902.28 in unpaid legal fees. Jansson supported the claim with ledgers showing Cytophil's indebtedness for services rendered in the Merz litigation and those ledgers reflect charges that the firm had invoiced from 2015 to 2019. Cytophil does not contest Jansson's claim. It scheduled Jansson as holding a nonpriority unsecured claim for $1,327,902.28 that is liquidated and undisputed. Health Policy Associates, Inc. (HPA), which asserts a (roughly) $727 thousand default judgment claim against Cytophil, objects to the allowance of Jansson's claim in its full amount, contending that Jansson's alleged damages are mostly time-barred by Wisconsin's six-year statute of limitations and thus are not allowable under 11 U.S.C. Sec. 502(b)(1). HPA argues that Jansson's invoices were due on receipt; as a result, Jansson's bankruptcy claim may only be allowed to the extent it consists of fees that Jansson first invoiced within six years of the date on which Cytophil filed its bankruptcy petition -- invoices totaling only about $204 thousand. HPA contends that the remainder of Jansson's claim is not allowable under Sec. 502(b)(1) because each earlier unpaid invoice constitutes a separate contract cause of action that accrued more than six years before the debtor filed for bankruptcy and thus is barred by Wisconsin's six-year statute of limitations, Wis. Stat. Sec. 893.43(1). Jansson responds (among other things) that it holds a single claim for unpaid fees for representing Cytophil in the Merz litigation and that a total breach of the engagement agreement did not occur -- thus its breach of contract claim did not accrue -- until the representation ended in June 2019 and Cytophil failed to pay the amounts owed. Therefore, Jansson argues, its claim -- the validity of which is determined as of February 4, 2025, the date on which Cytophil filed its bankruptcy petition -- is timely under Wisconsin's six-year statute of limitations. The Court finds Cytophil's failure to pay Jansson's interim invoices, while a breach of the engagement's payment term, was not a sufficient basis for Jansson's cause of action to accrue for statute of limitations purposes. For the cause of action to accrue, Jansson had to be relieved of its continuing duty to represent Cytophil. In the venerable Lowe v. Ring, the Wisconsin Supreme Court ruled that an attorney's cause of action for unpaid legal services does not accrue until his representation of the client concludes. Judge Halfenger explains, "Jansson's representation of Cytophil ended no earlier than June 6, 2019, the date the District Court for the Eastern District of North Carolina dismissed the Merz case with prejudice. That date is less than six years before Cytophil filed its bankruptcy petition, giving rise to Cytophil's bankruptcy estate from which Jansson seeks payment by filing a proof of claim. Under Lowe, Jansson's claim is not barred or limited by the applicable statute of limitations, Wis. Stat. Sec. 893.43(1), because Jansson's claim for Cytophil's breach of the engagement agreement did not 'accrue' more than six years before the petition date. HPA has shown no persuasive reason to predict that the Wisconsin Supreme Court would overrule Lowe or hold it inapplicable to Jansson's cause of action against Cytophil." A copy of the Court's Opinion, Findings of Fact, Conclusions of Law, and Order dated June 12, 2026, is available at https://urlcurt.com/u?l=GtU1Of from PacerMonitor.com About Cytophil Inc. Cytophil Inc., doing business as RegenScientific, operates in the field of manufacturing medical devices. Cytophil sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Wisc. Case No. 25-20576) on February 4, 2025. In its petition, the Debtor reported total assets of $1,131,109 and total liabilities of $3,520,398 as of September 30, 2024. Judge G. Michael Halfenger handles the case. The Debtor is represented by Evan P. Schmit, Esq. at Kerkman & Dunn. DOCKSIDE ASSOCIATION: Gets Extension to Access Cash Collateral -------------------------------------------------------------- The U.S. Bankruptcy Court for the District of South Carolina granted Dockside Association, Inc. a four-month extension to use cash collateral. The court authorized the Debtor to use cash collateral from June 1 through Sept. 30 to fund its operations based on its latest budget and generally on the same terms as the Jan. 21 initial order. First Citizens Bank, the Debtor's secured lender, consented to the extension. First Citizens Bank claims a first-priority lien on four debtor-in-possession bank accounts with the lender, which secures its $8.9 million and $3 million loans extended to the Debtor in 2022 and 2023, respectively. As of the petition date, the Debtor owed approximately $2.17 million under the $8.9 million loan and $719,348.75 under the $3 million loan. The Debtor preserves its right to challenge the validity, extent, priority, or amount of the lender's asserted liens on two of the DIP accounts. If the Debtor receives sale proceeds attributable to unpaid special assessments or regime fees, 100% of those amounts must be remitted to the lender. Beginning Sept. 1, the lender will reduce the required monthly payments to reflect the corresponding principal reduction. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/jEi4Y from PacerMonitor.com. About Dockside Association Inc. Dockside Association, Inc. filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. D.S.C. Case No. 25-05115) on December 29, 2025, listing assets of between $1 million and $10 million and liabilities of between $10 million and $50 million. Judge Elisabetta Gm Gasparini presides over the case. The Debtor tapped Michael M. Beal, Esq., at Beal, LLC as general bankruptcy counsel; Clement Rivers, LLP, Bundy McDonald, LLC, and Mark C. Tanenbaum, P.A. as special counsel; and DCPAS, LLC and Moss & Yantis CPA, PA as accountants. DS PARENT: S&P Alters Outlook to Negative, Affirms 'B' ICR ---------------------------------------------------------- S&P Global Rating affirmed its 'B' issuer credit rating on DS Parent Inc. and revised the outlook to negative from stable. Concurrently, S&P affirmed its 'B' issue-level rating, with a '3' recovery rating, on the company's revolving credit facility (RCF) and term loan. The negative outlook reflects the risk of a rating downgrade if unfavorable project execution timing persists or continued weakness in market demand and earnings results in S&P Global Ratings-adjusted debt to EBITDA remaining above 6.5x. DS Parent Inc. reported higher-than-anticipated S&P Global Ratings-adjusted leverage of approximately 8x for the last 12 months ended March 31, 2026, and 7.0x in fiscal 2025, exceeding our expectation of below 6.5x. S&P expects leverage to remain elevated, with S&P Global Ratings-adjusted debt to EBITDA of 6.5x-7.0x at year-end 2026. This is primarily attributable to customer deferrals, and shipment timing volatility, all of which resulted in lower-than-expected S&P Global Ratings-adjusted profitability. The negative outlook reflects leverage above our 6.5x downside threshold. S&P said, "Our base case assumes DS Parent's S&P Global Ratings-adjusted leverage remains above 6.5x in 2026 before improving to the low-6x area by year-end 2027. However, significant risks to our forecast persist, primarily related to the timing and lumpiness of earnings. We expect S&P Global Ratings-adjusted debt to remain stable, but leverage remains highly sensitive to fluctuations in profitability." S&P said, "We expect deleveraging to be driven by $15 million-$30 million in gross cost-reduction programs, various operational initiatives, and margin expansion from the recent acquisition of Balzanelli. We anticipate Balzanelli will contribute $5 million-$10 million in earnings, and it operates at a higher margin than DS Parent's legacy businesses. Accordingly, we expect the company to generate S&P Global Ratings-adjusted EBITDA margins of 10.2%-10.9% in the near term." Between 2020 and 2023, the company maintained stable S&P Global Ratings-adjusted leverage of approximately 5.0x. However, in 2024, the debt-funded acquisition of Extrusion Technology Group (ETG), coupled with a simultaneous decline in earnings, caused S&P Global Ratings-adjusted leverage to deteriorate beyond our 6.5x downgrade threshold. There is limited visibility into project execution timelines for next 12 months. DS Parent's revenue trajectory remains shaped by the timing of customer capital expenditure cycles across its core end markets, including packaging, infrastructure, and aftermarket. While S&P expects the infrastructure and aftermarket segments to remain resilient, the packaging market will remain lumpy. Elevated geopolitical and macroeconomic uncertainties, coupled with volatile raw material costs, have prompted some customers to postpone project execution and commissioning. Consequently, order activity and backlog may not convert to revenue as quickly as anticipated, creating temporary sales pressure despite the absence of material order cancellations. Accordingly, DS Parent remains exposed to execution timing risk because revenue recognition is contingent upon customers' willingness to proceed with previously committed expansion projects. S&P expects the sales contribution from Balzanelli to partially mask this demand softness, resulting in projected revenue growth in the low- to mid-single-digit percent area. S&P expects it to generate positive free operating cash flow in 2026. For the past two consecutive years, the company generated negative free operating cash flow (FOCF), driven primarily by elevated capital expenditure of 3%-4% of sales to fund the construction of a new research and development center, factory modernization, and capacity expansion. S&P expects FOCF to return to positive territory as the company shifts toward a maintenance-focused investment cycle, reducing capital expenditures to 1.5%-2.5% of sales. This will be supported by a gradual increase in S&P Global Ratings-adjusted EBITDA, limited working capital requirements, and consistent cash interest expenses of $40 million-$50 million. DS Parent will maintain adequate liquidity over next 12 months. S&P believes it has sufficient covenant headroom to meet its operating requirements over the next 12 months. This liquidity position is underpinned by $46 million in cash balances, $39.5 million of undrawn availability on its $122.5 million RCF, and improving FOCF. Furthermore, the company's debt maturity profile is well-distributed and manageable, with the RCF and term loan maturing in January 2029 and January 2031, respectively. The negative outlook reflects the potential of a lower rating on DS Parent if unfavorable project execution timing persists or continued weakness in market demand and earnings keep S&P Global Ratings-adjusted debt to EBITDA above 6.5x S&P could lower its rating on DS Parent if: -- Leverage remains above 6.5x due to market challenges and executing in the latter half of 2026; and -- It continues to operate with negative FOCF and liquidity becomes constrained. S&P could revise its rating to stable if S&P expects: -- If S&P Global Ratings-adjusted debt to EBITDA decreases to below 6.5x on a sustainable basis due to the generation of positive FOCF and execution of its plan; and -- The financial sponsor commits to maintaining financial policies that will support this improved leverage. DYNASTY ACQUISITION: S&P Upgrades ICR to 'BB', Outlook Stable ------------------------------------------------------------- S&P Global Ratings raised its issuer credit rating on Dynasty Acquisition Co. Inc. (dba StandardAero) to 'BB' from 'BB-'. At the same time, S&P raised its issue-level ratings on the company's senior secured debt to 'BB' from 'BB-', with a recovery rating of '3' (rounded estimate: 55%). S&P said, "Our stable outlook reflects StandardAero's favorable position within aerospace MRO markets, which continues to benefit from strong tailwinds driving material revenue growth and credit metric improvement. "We expect StandAero's S&P Global Ratings-adjusted margin profile to improve over the next 24 months. StandardAero has demonstrated a stable margin profile over the past couple of years, while consistent top line growth has allowed for positive cash flow expansion. StandardAero allocated capital toward strategic investments in operating improvements, including capacity, which we expect will drive margin expansion over the next few years. "We expect the added capacity at key facilities, specifically those in San Antonio, Dallas Fort Worth and Winnipeg Canada, will allow for service volumes to improve in 2026 and 2027. Over the past 24 months, management has prioritized building capacity to service the strong demand on widely-used platforms such as the CFM56 and LEAP commercial aircraft engines. These engines power many of the narrowbody and widebody aircraft utilized in fleets both domestically and throughout global networks. Additionally, we expect improving labor efficiency as key programs, such as LEAP, continue to ramp and mature. "We expect demand for component repair services, typically a higher-margin end market, to remain strong and more than offset any drag caused by lower margin segments. Further, the phase out of zero-margin pass-through work will also boost the company's margin profile in the near term. We now expect S&P Global Ratings-adjusted EBITDA margin of 13%-14% in 2026 and 13.5%-14.5% in 2027. We expect S&P Global adjusted credit metrics to benefit from the margin expansion with debt to EBITDA measuring below 3.0x while FFO to debt measuring between 20% and 30% in 2026 and 2027. "We expect market tailwinds to support growth over the next 24 months. Despite meaningful increases in fuel costs, commercial air travel remains stable, with load factors holding in the low-80% area. Consequently, commercial airlines are prioritizing the most fuel-efficient aircraft within their existing fleets. This increased utilization is driving robust demand for MRO services within StandardAero's commercial segment. "Although there is a risk that higher ticket prices could soften demand, we do not anticipate airlines delaying engine or component maintenance, primarily due to the extensive backlogs held by service providers." Strong business jet flight hours also continue to drive service demand. Robust spending and global geopolitical friction are driving requirements for military readiness and the maintenance of high-utilization platforms, such as the Rolls-Royce T-56 and GE T-700 engines. Original equipment manufacturer (OEM) aircraft delivery rates are improving but remain significantly below current demand. While supply chain bottlenecks are easing, the risk of further disruption persists. S&P projects top-line growth of 5%-10% in 2026, with further growth of between 7.5%–12% in 2027 as production volumes and efficiencies improve. S&P said, "We expect organic growth opportunities to remain management's priority, though tuck in acquisitions remain a possibility. We believe StandardAero will continue to focus on operating efficiencies, with investments directed toward expanding its capacity footprint. We expect capital expenditure requirements to normalize following the successful completion of the Dallas Fort Worth and Winnipeg expansions." The company may pursue opportunistic tuck-in mergers and acquisitions to complement its existing capabilities, supported by StandardAero's positive free cash flow and available liquidity under its revolving credit facility. S&P said, "We expect no change in the company's share repurchase levels over the forecasted period. While we do not anticipate significant shifts in policy, financial sponsor The Carlyle Group Inc. continues to exercise meaningful decision-making authority, and further rating improvement would likely require continued sell down." S&P said, "The stable outlook reflects our expectation that StandardAero will benefit from favorable market tailwinds. Despite elevated fuel costs, commercial air traffic remains robust. OEM delivery rates continue to trail demand, prompting higher utilization of older aircraft, driving increased demand for MRO service for engines and related components. We expect StandardAero's accelerating top-line growth to drive margin expansion and strengthen core credit metrics. "We could lower our rating on StandardAero if we expect the company will generate and sustain S&P Global Ratings-adjusted debt to EBITDA near 4.0x." This would likely occur if: -- Demand for aerospace and defense engine MRO materially declines; -- The company encounters sustained operating pressures among establishing itself for new platforms, such as LEAP; or -- Management pursues a financial policy that is more aggressive than S&P's current expectations, including significant debt-funded acquisitions or dividends. S&P could raise its rating on StandardAero within the next 12 months if Carlyle continues to sell down its equity positions, and its funds from operations (FFO) to debt reaches 30% while leverage remains below 3.0x. This could occur if: -- The LEAP program ramps up faster than we forecast, with stronger-than-expected performance on other high margin services and platforms; or -- Management does not pursue significant debt-funded acquisitions or shareholder returns; or -- Carlyle sells down its controlling interest faster than anticipated. EGGSTRODINARY RESTAURANTS: Seeks to Tap Singh CPA as Accountant --------------------------------------------------------------- Eggstrodinary Restaurants Leetsdale LLC and its affiliates seek approval from the U.S. Bankruptcy Court for the District of Colorado to employ Singh CPA & Associates, LLC as their accountant. The firm will provide these services: (a) prepare and file the Debtors' 2025 federal and state tax returns; (b) prepare tax-related documents and schedules for the Debtors; (c) provide additional tax and accounting consultation services as needed; and (d) supervise and/or provide accounting services to assist the Debtors in their financial and tax reporting obligations. Singh CPA & Associates, LLC will be compensated at a flat rate of $590 per Debtor, for a total of $2,950 for all Debtors, for preparation and filing of the 2025 federal and state tax returns. Singh CPA & Associates, LLC is a "disinterested person" within the meaning of 11 U.S.C. Sec. 101(14) and does not hold or represent any interest adverse to the Debtors, creditors, or other parties in interest, according to court filings. The firm can be reached at: Riki Singh, CPA Singh CPA & Associates, LLC 1755 Park Street, Suite 200 Naperville, IL 60563 About Eggstrodinary Restaurants Leetsdale Eggstrodinary Restaurants Sheridan LLC, Eggstrodinary Restaurants Leetsdale LLC, Eggstrodinary Restaurants TC LLC, and Eggstrodinary Restaurants - CR7th LLC operate casual dining restaurants using the Morning Story brand, specializing in breakfast and brunch offerings across Colorado and Iowa. The restaurants provide American-style breakfast dishes and cafe-style lunch menus across locations in Denver, Arvada, Englewood, and Marion. Up Early PBM, LLC operates Bluebird Cafe in Thornton, Colorado, as a full-service casual dining restaurant offering breakfast and brunch items including benedicts, hashes, waffles, and other daytime menu selections for local customers. The Debtors sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Colo. Lead Case No. 26-12490) on April 14, 2026, with up to $50,000 in assets and $1 million to $10 million in liabilities. James Gregory, manager, signed the petition. Judge Joseph G. Rosania Jr. presides over the case. Aaron J. Conrardy, Esq., at Wadsworth Garber Warner Conrardy, P.C. represents the Debtor as legal counsel. EQUIPMENTSHARE.COM INC: Fitch Assigns 'BB-' IDR, Outlook Stable --------------------------------------------------------------- Fitch Ratings has assigned EquipmentShare.com Inc a first-time Long-Term Issuer Default Rating (IDR) of 'BB-'. The Rating Outlook is Stable. Fitch has also assigned a 'BB+' secured debt rating to EquipmentShare's asset-based lending (ABL) revolving credit facility and a 'BB' secured debt rating to its senior secured second lien notes. Key Rating Drivers Growing Enterprise and Scale: EquipmentShare's ratings reflect its expanding operations, solid asset quality, robust liquidity and improved leverage from its January 2026 initial public offering (IPO). Weak Profitability: The ratings are constrained by weak profitability from ongoing expansion costs, modest footprint in a fragmented and cyclical market, an exclusively secured funding profile and limited operating history. Improved Capital Position Post-IPO: EquipmentShare's January 2026 IPO raised gross proceeds of $747 million, which the company intends to use for general corporate purposes. Concurrently, its $430 million of convertible preferred stock was converted into common stock. Fitch believes these transactions have improved EquipmentShare's capital position and provide greater capacity to execute on fleet capex and location expansion. Modest Position in Cyclical Market: EquipmentShare has a modest share of the fragmented U.S. construction equipment rental market, which faces cyclical demand. Rapid expansion and client diversification partly offset this constraint, but the company remains untested through a full cycle. EquipmentShare is among the fastest-growing construction equipment rental companies in the U.S., with revenue and geographic growth. Revenue increased at a five-year CAGR of 54%, while full-service rental locations grew at a five-year CAGR of 41%. Client diversification is strong. The top-five rental customers generated about 4% of 2025 rental and related services revenue. Solid Management Experience: Fitch views EquipmentShare's management team as seasoned, with the co-founders each having 25-plus years of experience in the construction industry prior to founding the company in 2015. However, the company's short operating history and limited executive bench strength are weaknesses compared with peers. Young Fleet Supports Solid Asset Quality: EquipmentShare's average fleet age of 30 months is younger than that of more mature peers that expanded via acquisitions, reflecting its organic growth strategy relative to more mature peers with more acquisitive strategies. Asset productivity is also improving, with rental segment revenue reaching 78% of owned-fleet original equipment cost in 1Q26 (2025: 73%, 2024: 67%). Fitch expects fleet age to remain steady given ongoing fleet and site investments, though the issuer has flexibility to let it age, moderate purchases and pause site openings during downturns. Growth Spend Constrains Profitability: EquipmentShare's ratings are constrained by its weak operating performance, driven by start-up costs and lower margins at newly opened locations that offset strong revenue growth. Pre-tax return on average assets (ROAA) was negative 4.0% in 1Q26, well below the four-year average of 0.9% from 2022 to 2025. The EBITDA margin fell to 16.2% in 2025, against a four-year average of 19.1%, below that of peers. Fitch expects operating performance to remain near current levels over the next 12 months, but to improve over time, as the pace of site expansion moderates and existing locations mature, supporting cost efficiencies. Modest Leverage: Leverage, measured by gross debt-to-tangible equity, should stay steady after falling to 2.4x in 1Q26 on post-IPO tangible equity growth (YE25: 4.8x, affording 50% equity credit to convertible preferred stock). This is within Fitch's 'bbb' benchmark range of 0.75x-4.0x for finance and leasing companies with a 'bbb' sector risk operating environment score. Fitch expects leverage to remain relatively stable over the Outlook horizon. Management expects net debt-to-adjusted EBITDA, adjusted for new market startup costs, in the low-3x range by YE26, against 2.8x on a trailing 12-month basis as of 1Q26. Adequate Liquidity; Limited Funding Flexibility: Fitch believes EquipmentShare has sufficient liquidity, with $329 million of unrestricted cash and $1.3 billion of availability on undrawn secured facilities as of 1Q26. Only $32 million of corporate debt matures within 12 months, after which there are no large maturities until 2028, when $1.04 billion in senior secured notes comes due. However, EquipmentShare's fully secured funding profile constrains funding flexibility, especially given its growth strategy. Stable Outlook: The Stable Outlook reflects Fitch's expectation of sustained strong revenue growth, but with modest earnings. Fitch also expects the company to keep post-IPO leverage steady and preserve solid asset quality. RATING SENSITIVITIES Factors that Could, Individually or Collectively, Lead to Negative Rating Action/Downgrade - Continued weakness in profitability, with persistently negative pre-tax ROAA - Weakening liquidity or inability to refinance debt well ahead of scheduled maturities - Persistent increase in gross leverage to above 6x - Significant loss of competitive positioning and market share - Significant asset quality deterioration, evidenced by a large increase in average fleet age or lower residual values on sold equipment - A key-person event involving the co-founders Jabbok Schlacks and William Schlacks, given limited executive bench strength Factors that Could, Individually or Collectively, Lead to Positive Rating Action/Upgrade - Sustained improvement in profitability, with pre-tax ROAA above 1.5% - An improved funding profile, including the addition of unsecured debt representing at least 10% of total debt - Maintenance of gross leverage (debt/tangible equity) below 4x DEBT AND OTHER INSTRUMENT RATINGS: KEY RATING DRIVERS The ABL credit facility rating is two notches above EquipmentShare's Long-Term IDR, reflecting superior recovery prospects under a stress scenario. The second lien debt rating is one notch above EquipmentShare's Long-Term IDR, reflecting good recovery prospects under a stress scenario and the subordination to the ABL credit facility. DEBT AND OTHER INSTRUMENT RATINGS: RATING SENSITIVITIES The ABL credit facility and second lien debt ratings are linked to EquipmentShare's Long-Term IDR and would move in tandem. The debt ratings are secondarily sensitive to the size and quality of EquipmentShare's asset pool. Any material changes in asset quality or leverage could alter Fitch's view of recovery prospects for these debt classes. ADJUSTMENTS The Standalone Credit Profile (SCP) has been assigned below the implied SCP due to the following adjustment reasons: Weakest Link - Earnings & Profitability (negative) The Funding, Liquidity, & Coverage score has been assigned below the implied score due to the following adjustment reason: Funding Flexibility (negative) Date of Relevant Committee 05-Jun-2026 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 ----------- ------ EquipmentShare.com Inc LT IDR BB- New Rating senior secured LT BB+ New Rating Senior Secured 2nd Lien LT BB New Rating EQUIPMENTSHARE.COM INC: S&P Rates Sr. Sec. Second-Lien Notes 'B' ---------------------------------------------------------------- S&P Global Ratings assigned its 'B' issue-level rating and '3' recovery rating to EquipmentShare.com Inc.'s proposed senior secured second-lien notes due 2034. The '3' recovery rating indicates its expectation for meaningful recovery (50%-70%; rounded estimate: 55%) in the event of a payment default. The company is seeking to raise up to $1.5 billion of senior secured notes, the proceeds of which it will use to repay all or a portion of the amount outstanding on its $2.75 billion asset-based lending (ABL) credit facility ($999 million drawn as of March 31, 2026 and close to $1.5 billion estimated at transaction close) and pay transaction-related fees and expenses. S&P said, "The proposed transaction does not materially affect our recovery expectations on EquipmentShare's second-lien notes. Increased debt claims at a hypothetical default are largely offset by higher asset value resulting from the company's investment in fleet growth. In our recovery analysis, we continue to assume the ABL will be drawn 60% at default and will be a sizable priority claim ahead of its senior secured second-lien notes. "The transaction is leverage neutral and will not materially affect our forecast credit metrics. We continue to expect revenue growth in the low- to mid-teens percent area for 2026 as the company expands its operating stores and fleet, amid favorable market dynamics in larger-scale mega projects and infrastructure development." Issue Ratings--Recovery Analysis Key analytical factors -- S&P's simulated default scenario considers a default triggered by an economic downturn that leads to a decline in demand for equipment rental services and sales. -- S&P's recovery analysis assumes a recovery value in a hypothetical bankruptcy based on a combination of two approaches to value different parts of the business: a discrete asset valuation (DAV) approach to reflect the value of the equipment rental business derived from the company's owned rental fleet, and an EBITDA multiple-based approach to primarily reflect the value of the OWN program, which generates rental revenue from assets owned by third parties. -- S&P said, "Our DAV approach starts with EquipmentShare's net book values as of March 31, 2026 (pro forma for additional ABL borrowings post-quarter close). We assume balance sheet accounts are partially diluted to reflect the assumed loss of appraised value through additional depreciation or expected contraction in working capital assets in the period leading to the hypothetical default. We then apply realization rates to the assets, reflecting the friction of selling or the discounts potential buyers or restructurers would apply in distressed circumstances." -- S&P assumes realization rates of 80% for rental equipment, about 65% for other property and nonrental equipment, and 80% for inventory and accounts receivable. -- S&P values the company's OWN program using a 5x EBITDA multiple applied to significantly depressed EBITDA in a default scenario. -- The EBITDA multiple is in line with our typical assumption for the broader capital goods sector. Simulated default assumptions -- Jurisdiction: U.S. -- Simulated year of default: 2029 -- S&P assumes the ABL is 60% drawn and that the company uses a sizable portion of this incremental draw to purchase rental equipment. -- Debt amounts include six months of accrued interest that S&P assumes will be owed at default. Simplified waterfall -- Net recovery value after administrative expenses (5%): $3.79 billion -- Priority claims (ABL): $1.68 billion -- Secured equipment financing claims: $4 million -- Collateral value available to second-lien debt (senior secured notes): $2.11 billion -- Second-lien debt claims: $3.78 billion --Recovery expectations: 50%-70% (rounded estimate: 55%) EVENTIDE CREDIT: Chapter 11 Trustee Appointment Sought ------------------------------------------------------ A group of consumer borrowers asked the U.S. Bankruptcy Court for the Northern District of Texas to appoint a Chapter 11 trustee for BWH Texas, LLC. BWH, an affiliate of Eventide Credit Acquisitions, LLC, filed for bankruptcy on Oct. 9, 2023. Its case is being jointly administered with Eventide's bankruptcy. At the time of filing, both companies were owned by interests associated with Matt Martorello's family and were under his control. In 2023, Mr. Martorello was found liable by the U.S. District Court for the Eastern District of Virginia for collecting on illegal consumer loans in violation of the civil provisions of RICO Act. The ruling was affirmed by the Fourth Circuit Court of Appeals, and the U.S. Supreme Court declined to review the case by denying certiorari. Michael Caddell, Esq., the attorney representing the consumer borrowers, said the judgment against Mr. Martorello alone warrants the appointment of an independent trustee to administer BWH's bankruptcy case. "In light of his pre- and post-petition conduct, Mr. Martorello is equally unfit to manage BWH's affairs or to continue directing the administration of this Chapter 11 case," the attorney said. Mr. Caddell noted that the court previously determined Mr. Martorello should not continue controlling Eventide during its bankruptcy proceedings and appointed Mark Andrews as Chapter 11 trustee, finding that Mr. Martorello's dishonesty, false declaration, and implementation of a document-destruction protocol constituted sufficient cause for the appointment of a trustee. The attorney argued that the same concerns and findings that justified removing Mr. Martorello from control of Eventide likewise support limiting or terminating his continued management of BWH's interests. A copy of the motion is available for free at https://urlcurt.com/u?l=9pRdRZ from Donlin, Recano & Company, Inc., claims agent Attorneys for consumer borrowers: Michael A. Caddell, Esq. Caddell & Chapman 628 East 9th Street Houston, Texas 77007 Telephone: (713) 751-0400 Facsimile: (713) 751-0906 Email: mac@caddellchapman.com -- and -- Kristi C. Kelly, pro hac vice Andrew J. Guzzo, pro hac vice Kelly Guzzo, PLC 3925 Chain Bridge Road, Suite 202 Fairfax, VA 22030 Telephone: (703) 424-7572 Facsimile: (703) 591-0167 Email: kkelly@kellyguzzo.com Email: aguzzo@kellyguzzo.com About Eventide Credit Acquisitions LLC Eventide Credit Acquisitions, LLC, a Dallas-based company, and BWH Texas LLC filed Chapter 11 petitions (Bankr. N.D. Texas Lead Case No. 23-90007) on Sept. 6, 2023 and Oct. 9, 3023, respectively. At the time of the filings, Eventide reported between $50 million and $100 million in both assets and liabilities while BWH reported assets of between $10 million and $50 million and liabilities of up to $50,000. Judge Mark X. Mullin oversees the cases. The Debtors tapped Forshey Prostok as bankruptcy counsel and Donlin, Recano & Company, Inc. as notice, claims and balloting agent. Mark Andrews, the Chapter 11 trustee for Eventide, tapped DLA Piper LLP (US) as bankruptcy counsel; PHELANLAW and Vartabedian Hester & Haynes, LLP as special counsel; and Trinity River Advisors, LLC as financial advisor. The U.S. Trustee for Region 6 appointed an official committee of unsecured creditors. Cole Schotz, P.C. and Aurora Management Partners serve as the committee's legal counsel and financial advisor, respectively. FIREHOUSE GRILL: Plan Exclusivity Period Extended to Aug. 24 ------------------------------------------------------------ Judge Michael B. Slade of the U.S. Bankruptcy Court for the Northern District of Illinois extended Firehouse Grill, Inc. and its affiliates' exclusive period to file a plan of reorganization to Aug. 24, 2026. As shared by Troubled Company Reporter, the Debtors are six related entities which have simultaneously filed chapter 11 cases. The related entities consist of four operating restaurants and two single asset real estate entities from which two of the restaurant debtors operate. Each of the entities is owned and/or controlled by George Patrick Fowler. The Debtors explain that they are exploring necessary infusion of new value for their plans, in order to comply with the Absolute Priority Rule under Section 1129(b)(2) of the Bankruptcy Code, and Fowler is in the process of negotiating with several parties to obtain the necessary new value. The Debtors are also in need of an extension of time to file their plans while the restaurants assess financial results from each location. The Debtors continue to work on their cashflow projections to accompany their plans of reorganization. The Debtors assert that the requested extension is attributable to circumstances for which the Debtors should not justly be accountable. Counsel to the Debtors: Scott R. Clar, Esq. CRANE, SIMON, CLAR & GOODMAN 135 South LaSalle Street, Suite 3950 Chicago, IL 60603 Telephone: (312) 641-6777 E-mail: sclar@cranesimon.com About Firehouse Grill Firehouse Grill Inc. is a restaurant operator providing prepared food and beverage services to customers through its dining location. The company participates in the food service sector, focusing on in-person dining and related hospitality operations. Firehouse Grill Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-00903) on January 20, 2026. In its petition, the Debtor listed up to $1 million in estimated assets and up to $10 million in estimated liabilities. The Debtor tapped Scott R. Clar, at Crane, Simon, Clar & Goodman as counsel; and Weinberg Barton & Company as accountant. FORM LOS ANGELES: Gets Final OK to Use Cash Collateral ------------------------------------------------------ The U.S. Bankruptcy Court for the Central District of California, Los Angeles Division, granted Form Los Angeles LLC final authority to use cash collateral. As adequate protection for secured creditors, the court granted replacement liens on the debtor’s prepetition and post-petition assets of the same type, validity, and priority as existing prepetition liens. These replacement liens are limited to the extent of any diminution in value resulting from the debtor's post-petition use of cash collateral. The order also requires the debtor to make monthly adequate protection payments of $500 to Forward Financing. The first payment is due within five days of the order’s entry, with all subsequent payments due on the first day of each month thereafter. Additionally, the court prohibited the debtor from using cash collateral to make payments to insiders unless and until it complies with all applicable requirements of the Bankruptcy Code and Local Bankruptcy Rule 2014-1 governing such payments. About Form Los Angeles LLC Form Los Angeles LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Cal. Case No. 26-13976) with $100,001 to $500,000 in assets and $1,000,001 to $10 million in laibilities. The petition was signed by Jordan Mosslar as founder and owner. Judge Hon. Deborah J Saltzman oversees the case. The Debtor is represented by: Michael Jay Berger Tel: 310-271-6223 Email: michael.berger@bankruptcypower.com FUEL FITNESS: Gets Extension to Access Cash Collateral ------------------------------------------------------ The U.S. Bankruptcy Court for the Eastern District of North Carolina, Raleigh Division, extended Fuel Fitness, LLC's authority to use cash collateral to fund its operations. The 19th interim order authorized the Debtor to use cash collateral pursuant to its monthly budget, which shows total projected expenses of $73,480 for the period from May 28 to June 28. The Debtor's bankruptcy estate has an interest in revenues from the operation of its business. These revenues constitute the cash collateral of secured creditors, including Live Oak Banking Company, Newtek Bank N.A., and SofiaGrey, LLC. The Debtor owes $525,000 to Live Oak, $345,000 to NewTek, $110,000 to Fitness Investment Partners and $77,000 to SofiaGrey. As adequate protection, the secured creditors will be granted a continuing post-petition security interest in and lien on all personal property of the Debtor to the same extent and with the same priority as their pre-bankruptcy liens. As further protection, Live Oak Banking Company will receive payment of $5,000. The next hearing is scheduled for June 24. The 19th interim order is available at https://l1nq.com/rsnrgll from PacerMonitor.com. About Fuel Fitness LLC Fuel Fitness, LLC, a company in Raleigh, N.C., filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. E.D.N.C. Case No. 24-03698) on Oct. 22, 2024, with up to $100,000 in assets and up to $10 million in liabilities. Christopher Shawn Stewart, member-manager, signed the petition. Judge Joseph N. Callaway oversees the case. The Debtor is represented by Philip Sasser, Esq., at Sasser Law Firm. Live Oak Banking Company, as secured creditor, is represented by: William Walt Pettit, Esq. Hutchens Law Firm 6230 Fairview Road, Suite 315 Charlotte, NC 28210 Phone: (704) 362-9255 walt.pettit@hutchenslawfirm.com FUEL HOMESTEAD: Gets Extension to Access Cash Collateral -------------------------------------------------------- Fuel Homestead, LLC received another extension from the U.S. Bankruptcy Court for the Eastern District of North Carolina, to use cash collateral. The court issued its 19th interim order authorizing the Debtor to use cash collateral pursuant to its budget, which shows total projected expenses of $89,930 for the period from May 28 to June 28. The Debtor's bankruptcy estate has an interest in revenues from the operation of its business. These revenues constitute the cash collateral of secured creditors, including Live Oak Banking Company, Fitness Investment Partners, Newtek, and SofiaGrey, LLC. The Debtor owes $525,000 to Live Oak, $345,000 to NewTek, $110,000 to Fitness Investment Partners and $77,000 to SofiaGrey. As adequate protection, the secured creditors will be granted a continuing post-petition security interest in and lien on all personal property of the Debtor to the same extent and with the same priority as their pre-bankruptcy liens. As additional protection, Live Oak Banking Company will receive payment in the amount of $5,000 this month. The next hearing is set for June 24. The 19th interim order is available at https://l1nq.com/wc9bkmo from PacerMonitor.com. About Fuel Homestead Fuel Homestead, LLC, a company in Raleigh, N.C., sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. N.C. Case No. 24-03699) on October 22, 2024, with up to $100,000 in assets and up to $10 million in liabilities. Christopher Shawn Stewart, member-manager, signed the petition. Judge Joseph N. Callaway oversees the case. The Debtor is represented by Philip Sasser, Esq., at Sasser Law Firm. Live Oak Banking Company, as secured creditor, is represented by: William Walt Pettit, Esq. Hutchens Law Firm 6230 Fairview Road, Suite 315 Charlotte, NC 28210 (704) 362-9255 walt.pettit@hutchenslawfirm.com FUEL REYNOLDA: Gets Extension to Access Cash Collateral ------------------------------------------------------- Fuel Reynolda, LLC received 19th interim approval from the U.S. Bankruptcy Court for the Eastern District of North Carolina, Raleigh Division, to use cash collateral to fund operations. The 19th interim order authorized the Debtor to use cash collateral pursuant to its monthly budget for the period from May 28 to June 28. The budget shows total projected expenses of $90,680 for the interim period. The Debtor's bankruptcy estate has an interest in revenues from the operation of its business. These revenues constitute the cash collateral of secured creditors, including Live Oak Banking Company, Fitness Investment Partners, Newtek, and SofiaGrey, LLC. The Debtor owes $525,000 to Live Oak, $345,000 to NewTek, $110,000 to Fitness Investment Partners and $77,000 to SofiaGrey. As protection, the secured creditors will be granted a continuing post-petition security interest in and lien on all personal property of the Debtor to the same extent and with the same priority as their pre-bankruptcy liens. In addition, Live Oak Banking Debtor will receive payment of $5,000 this month. The next hearing is set for June 24. The 19th interim order is available at https://sl1nk.com/osfm2ql from PacerMonitor.com. About Fuel Reynolda Fuel Reynolda, LLC -- https://fuelfitnessclubs.com/about/ -- doing business as Fuel Fitness, is a fitness center that offers the best free weights, strength training/cardio equipment, group fitness classes, personal training, childcare, recovery studio and smoothie bar. Fuel Reynolda sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.C. Case No. 24-03700) on October 22, 2024, with $100,000 to $500,000 in assets and $1 million to $10 million in liabilities. Christopher Shawn Stewart, member-manager, signed the petition. Judge Joseph N. Callaway oversees the case. Philip Sasser, Esq., at Sasser Law Firm is the Debtor's bankruptcy counsel. Live Oak Banking Company, as secured creditor, is represented by: William Walt Pettit, Esq. Hutchens Law Firm 6230 Fairview Road, Suite 315 Charlotte, NC 28210 (704) 362-9255 walt.pettit@hutchenslawfirm.com GAIA LLMH: S&P Assigns 'B' ICR on LBO Take Private Transaction -------------------------------------------------------------- S&P Global Ratings assigned its 'B' issuer credit rating to Gaia LLMH Holding Co. Inc. The stable outlook on Gaia reflects S&P's view that industry growth, cost synergies from the recent CWT integration, and the realization of technology cost efficiencies under new ownership will support good operating performance such that Gaia's gross leverage (including preferred stock) will approach the high-7x area with EBITDA interest coverage in the 1.5x-2.0x area over the next 12 months. Gaia LLMH Holding Co. Inc., a newly formed holding company owned by Long Lake Management Inc. with support from General Catalyst and Alpha Wave, is acquiring Global Business Travel Group Inc. (dba Amex GBT) in an all-cash transaction at an enterprise value of $6.3 billion. Gaia LLMH Holding Co. Inc. plans to issue a $250 million revolving credit facility, $1.5 billion term loan B, $1.0 billion senior secured notes, along with preferred equity and common equity to fund the Amex GBT acquisition. S&P will withdraw the issuer and issue-level ratings on Global Business Travel Group Inc. at close of the transaction. S&P also assigned its 'B' issue-level ratings and '3' recovery ratings to the proposed revolving credit facility, term loan B, and senior secured notes S&P said, "The 'B' issuer credit rating reflects Amex GBT's scale and market position, high leverage pro forma for the transaction, and financial-sponsor ownership. Long Lake is acquiring Amex GBT and taking the company private. We forecast Amex GBT's pro forma S&P Global Ratings-adjusted leverage will be elevated in the mid-9x area as of the end of 2026 before improving to the 7.5x-8.0x range in 2027. We also forecast the company will improve its reported free operating cash flow (FOCF) by about $30 million in 2026 and $50 million in 2027 from $104 million in 2025. We anticipate Amex GBT will increase its earnings on resilient business travel demand and the realization of improved operating efficiencies and cost synergies. To calculate the company's adjusted debt, we incorporate its preferred shares, operating leases, and pension obligations. We subtract Amex GBT's capitalized software development costs and restructuring expenses from our adjusted EBITDA. "The realization of cost synergies will improve the company's profitability and support deleveraging over the next 12 months. Prior to the proposed transaction, we expected Amex GBT to expand its EBITDA through its recent acquisition of CWT. The company expects to realize $55 million in cost synergies on the P&L in 2026 and exit the year with approximately $80 million of run-rate synergies already actioned. These synergies primarily relate to workforce reductions, real estate consolidations, and vendor savings. "We believe the company's acquisition by Long Lake will allow it to leverage AI capabilities to increase its automation and digital transaction penetration. Long Lake provides a proprietary AI platform to improve traveler care across complex workflows and servicing and increase travel counselor productivity. We expect Amex GBT's deployment of AI tools, along with its technology consolidation, to provide additional cost savings over the next three years. Therefore, we believe the company will expand its EBITDA margins by 100 basis points (bps)-150 bps in 2026 and by an additional 250 bps-300 bps in 2027 from 11.7% in 2025. That said, there is some execution risk related to the company's realization of these synergies, and we anticipate its profitability will be temporarily pressured by one-time restructuring expenses." Geopolitical tensions and inflationary pressures pose risks. After growing at a stronger-than-expected rate so far this year, the U.S. economy's expansion is poised to slow over the next two years. S&P Global economists now expect U.S. GDP growth to slow to 2.0% in 2027 from 2.2% this year. Although global air passenger traffic has been relatively resilient despite ongoing macroeconomic headwinds and geopolitical tensions, S&P believes the demand for air travel could modestly decline if the economy slows and companies scale back on nonessential business travel to cut costs. S&P said, "We believe the increasing risk of a macroeconomic slowdown or prolonged Middle East war could limit the company's operating performance. The Middle East region contributes about 5% of Amex GBT's revenue, and we believe a prolonged conflict could have a broader impact on overall travel demand. Beyond the impact of higher prices, the prolonged effective blockage is evolving into a wider supply shock. For example, a drawn-out Middle East war could further disrupt the energy markets, increase inflation, and weigh on global economic activity by evolving into a wider supply shock. This could affect corporate clients across industry verticals such as chemicals, metals and mining, oil and gas, and transportation. While our base-case forecast assumes good revenue and EBITDA growth next year due to a diversified industry customer base, we believe a higher inflationary environment and heightened market volatility could hinder the company's deleveraging path and cash generation." Working capital dynamics could cause volatility in Amex GBT's cash flow metrics. While the company has substantially improved its revenue and EBITDA alongside the recovery in business travel since the pandemic, both its accounts receivable and accounts payable balances are highly correlated with total transaction value (TTV) trends. For example, Amex GBT experiences substantial working capital outflows amid rapid TTV growth but benefits from working capital inflows during sharp TTV declines. These working capital dynamics, along with the company's TTV seasonality--whereby its TTV is at its lowest levels at year end and its payment of annual incentives is completed in the first quarter--typically act as a drag on its cash flow in the first quarter. Nonetheless, S&P expects a smoother business recovery and the benefits from management's cost-savings initiatives to improve Amex GBT's cash flow profile such that it increases its reported cash flow from operations to approximately $250 million-$270 million in 2026 and $280 million-$300 million in 2027 from $233 million in 2025. The stable outlook on Gaia reflects S&P's view that industry growth, cost synergies from the recent CWT integration, and the realization of technology cost efficiencies under new ownership will support good operating performance such that Gaia's gross leverage (including preferred stock) will approach the high-7x area with EBITDA interest coverage in the 1.5x-2.0x area over the next 12 months. S&P could lower the rating if Gaia's credit metrics materially deteriorate, including S&P Global Ratings-adjusted gross leverage remaining above 8.0x and EBITDA interest coverage declining below 1.5x, which could result from: -- Missed execution on achieving planned synergies or increased integration or restructuring costs related to the CWT acquisition and tech automation efforts; -- A material disruption in the business travel segment or loss of clients due to macroeconomic headwinds, inflationary pressures, or heightened geopolitical tension; or -- Aggressive financial policy decisions such as large, poorly timed, debt-funded acquisitions or substantial debt-funded distributions to its sponsor. S&P could raise the rating if Gaia: -- Adheres to a financial policy such that we believe the company could sustain leverage below 6.0x, with sufficient cushion to weather revenue and EBITDA volatility from an economic downturn and leveraging transactions, and -- Expands its EBITDA base with good operating leverage and synergies from acquisitions and cost savings initiatives. GALINDO EMPIRE: Melissa Haselden Named Subchapter V Trustee ----------------------------------------------------------- The U.S. Trustee for Region 7 appointed Melissa Haselden, Esq., at Haselden Farrow, PLLC as Subchapter V trustee for The Galindo Empire LLC. Ms. Haselden will be paid an hourly fee of $625 for her services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Ms. Haselden declared that she is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Melissa A. Haselden, Esq. Haselden Farrow, PLLC 700 Milam, Suite 1300 Pennzoil Place Houston, TX 77002 Telephone: (832) 819-1149 Facsimile: (866) 405-6038 mhaselden@haseldenfarrow.com About The Galindo Empire LLC The Galindo Empire, LLC, a Texas-based limited liability company, sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-33599) on May 22, 2026. At the time of the filing, the Debtor disclosed estimated assets of between $100,001 and $1 million and estimated liabilities of between $100,001 and $1 million. Honorable Bankruptcy Judge Jeffrey P. Norman oversees the case. The Debtor is represented by Jeremy Thomas Wood, Esq., at the Law Office of Jeremy T. Wood, PLLC. GATES ENTERPRISES: Seeks Approval to Tap SL Biggs as Accountant --------------------------------------------------------------- Gates Enterprises LLC seeks approval from the U.S. Bankruptcy Court for the District of Colorado to employ Mark Dennis, Esq. of SL Biggs, a Division of SingerLewak LLP, to provide professional accounting and advisory services. Mr. Dennis and SL Biggs will provide these services: (a) assist the Debtor with issues raised by the IRS; (b) assist the Debtor with maintaining books and records; (c) prepare and file the Debtor’s monthly operating reports; (d) provide bookkeeping entries and account reconciliation services; (e) assist with payroll processing; (f) prepare financial statements and tax returns; (g) prepare monthly budgets and monthly reports; (h) prepare liquidation analyses; and (i) develop financial projections and other bankruptcy-related financial advisory services. SL Biggs, a Division of SingerLewak LLP, will be compensated based on its standard hourly rate structure, with partner rates ranging from $550 to $735, managing directors $500 to $565, directors $425 to $495, senior managers $400 to $420, managers $300 to $395, junior to senior accountants $275 to $295, and staff accountants $200 to $265. The firm will also receive a $20,000 retainer subject to court approval, and all fees and expenses are subject to Bankruptcy Court review and approval. SL Biggs is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code, as disclosed in court filings. The firm can be reached at: Mark Dennis, CPA SL BIGGS, A DIVISION OF SINGERLEWAK LLP 2000 S. Colorado Blvd., Tower 2, Suite 200 Denver, CO 80222 About Gates Enterprises LLC Gates Enterprises LLC is a roofing company based in Lakewood, Colorado. Founded by Andrew Gates, the company provides exterior services including roof replacement, roof repair, storm and hail damage repair, siding, gutters, windows, paint, insurance restoration, and drone roof inspections. Gates Enterprises serves homeowners across Colorado's Front Range and created HailScore, a hail risk assessment tool. Gates Enterprises LLC filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. D. Col. Case No. 26-13280) on May 8, 2026, listing up to $50,000 in assets and $1 million to $10 million in liabilities. The petition was signed by Andrew Gates as president. Judge Joseph G Rosania Jr presides over the case. Jonathan M. Dickey, Esq. at Kutner Brinen Dickey Riley, P.C. serves as the Debtor's counsel. G&G Funding, as lender, is represented by: Btzalel Hirschhorn, Esq. ANDERSON BOWMAN, PLLC 8002 Kew Gardens Rd. Ste. 600 Kew Gardens, NY 11415 Tel: (718) 262-6800 Email: bhirschhorn@andersonbowman.com GENERIC MANUFACTURING: Seeks Continued Cash Collateral Access ------------------------------------------------------------- Generic Manufacturing Corporation, Inc. asks the U.S. Bankruptcy Court for the Central District of California, Riverside Division, for authority to use cash collateral and provide adequate protection. The Debtor faces operational stress stemming from a post-pandemic reduction in machinery orders, severe online marketing disruptions caused by artificial intelligence interfering with its digital campaigns, and a critical prepetition liquidity crunch. Specifically, on April 7, the Banc of California's levy department seized approximately $65,000 from the Debtor's bank accounts in execution of a writ of levy obtained by judgment creditor MyCone Dental Supply Co., Inc. To halt further enforcement actions and stabilize operations, the Debtor sought emergency authorization to use cash collateral. Following a series of oppositions from MyCone and replies by the Debtor, the court approved interim cash collateral use through July 1, 2026. The Debtor's current request seeks extended authorization to utilize cash collateral through the final confirmation of its Chapter 11 plan of reorganization, leaning on $200,000 in anticipated revenue from machinery orders scheduled for completion in mid-to-late May 2026 to help fund its restructuring. The Debtor's liquidation and creditor landscape is heavily concentrated around a single senior secured position. It holds no real estate interests, and its personal property—consisting of bank funds, accounts receivable, raw materials, inventory, and office equipment—has an estimated petition-date liquidation value of $296,854. The U.S. Small Business Administration is the primary secured creditor, holding a valid, perfected blanket UCC-1 lien securing an estimated balance of $64,814. The Debtor believes the SBA is the only party possessing a colorable lien on actual cash collateral. The remaining secured claims consist of a $2,509 tax lien held by the Riverside County Treasurer, an $11,866 judgment lien held by Consolidated Electrical Distributor recorded within the 90-day prepetition preference period, and MyCone’s massive $478,057 judgment lien. The Debtor contends that the judgment liens do not attach to cash collateral and intends to legally avoid Consolidated Electrical's lien as a preferential transfer, while asserting that any bank account lien claimed by MyCone via its writ of levy is similarly avoidable. Beyond these claims, the estate faces general unsecured liabilities totaling $220,827 alongside priority tax claims of an unknown amount from the California Employment Development Department. To maintain ongoing operations without harming its secured lenders, the Debtor has structured strict budgetary guidelines and adequate protection protocols. Corporate governance remains under the direction of its two insider executives—President Lonnie Belts and Chief Financial Officer Elizabeth Belts—who work alongside two non-insider W-2 employees. The Debtor has committed to freezing insider compensation until it fully complies with the Bankruptcy Code and U.S. Trustee guidelines. Under the proposed cash collateral budget, the Debtor requests the flexibility to deviate from total expenses by a maximum of 10%, or to shift funds by category to accommodate sudden spikes in manufacturing costs, such as raw metals or electrical components, driven by large customer orders. As explicit adequate protection for the SBA's highly oversecured position, the Debtor will maintain its contractual monthly payments of $731 and grant a post-petition replacement lien on its $296,853.98 personal property asset base. This replacement lien will be strictly limited to the exact extent that the post-petition use of cash collateral diminishes the value of the SBA's original collateral. Conversely, the Riverside County Treasurer's secured tax claim will be deferred and paid in full over time through the eventual plan of reorganization, while the disputed judgment creditors will receive no interim cash distributions. A hearing on the matter is set for June 25, at 1:30 p.m. A copy of the motion is available at https://urlcurt.com/u?l=ZRGpRc from PacerMonitor.com. About Generic Manufacturing Corporation Inc. Generic Manufacturing Corporation, Inc. manufactures packaging and bottling machinery serving multiple industries globally. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Cal. Case No. 26-12720) on April 8, 2026. In the petition signed by Lonnie Belts, president, the Debtor disclosed up to $500,000 in assets and up to $1 million in liabilities. Judge Scott H. Yun oversees the case. Michael Jay Berger, Esq., at Law Offices of Michael Jay Berger, represents the Debtor as bankruptcy counsel. HARDCORE CONCRETE: Amy Denton Mayer Named Subchapter V Trustee -------------------------------------------------------------- The Acting U.S. Trustee for Region 21 appointed Amy Denton Mayer of Stichter Riedel Blain & Postler, P.A. as Subchapter V trustee for Hardcore Concrete Inc. Ms. Mayer 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. Mayer declared that she is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Amy Denton Mayer Stichter Riedel Blain & Postler P.A. 110 East Madison Street, Suite 200 Tampa, FL 33602 Phone: (813)229-0144 Email: amayer@subvtrustee.com About Hardcore Concrete Inc. Hardcore Concrete Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla., Case No. 26-01392) on June 5, 2026, with $500,001 to $1 million in both assets and liabilities. Judge Luis Ernesto Rivera II presides over the case. Buddy D. Ford, Esq., at Ford & Semach, P.A. represents the Debtor as legal counsel. HARLOW ENTERPRISES: Seeks to Extend Plan Exclusivity to July 8 -------------------------------------------------------------- Harlow Enterprises LLC asked the U.S. Bankruptcy Court for the Northern District of West Virginia to extend its exclusivity periods to file a plan of reorganization to July 8, 2026. The deadline to file the plan is June 8, 2026. Despite the best efforts of the Debtor, he has been unable to clarify the tax obligations owed. The Debtor explains that its prior CPA has advised that the 2022 and 2023 tax returns were filed and is to provide proof of the filing to counsel for the Debtor. The Internal Revenue Service filed a claim and confirmed to counsel that it has not received the 2022 and 2023 tax returns for the Debtor. In addition, there are numerous estimated debts claimed to be owed by West Virginia Tax. The Debtor claims that it has a new CPA investigating and preparing amended returns, but it is unknown whether these returns were filed and not associated with the Debtor entity (returns were filed as pass through on the individual returns of Kenny Harlow). The Debtor has been working in good faith to prepare amended returns and to clarify the estimated and missing returns identified by the taxing claimants. In addition, the prior CPA has agreed to provide information to counsel for the Debtor but this request is still pending. Harlow Enterprises LLC is represented by: Aaron C. Amore, Esq. WVSB #6455 206 West Liberty Street Charles Town, WV 25414 Phone 304- 885-4117 Fax: 866-417-8796 E-mail: aaron@amorelaw.com About Harlow Enterprises Harlow Enterprises LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. W.Va. Case No. 26-00165) on March 20, 2026, with $50,001 to $100,000 in assets and $0 to $50,000 in liabilities. Judge David L. Bissett presides over the case. Aaron C. Amore, at Amore Law, PLLC, is representing the Debtor. HARVEST SHERWOOD: Wins Bid to Limit Keith Bierman's Expert Opinions ------------------------------------------------------------------- Judge Stacey G. Jernigan of the U.S. Bankruptcy Court for the Northern District of Texas granted the motion to limit expert opinions of Keith Bierman by Harvest Sherwood Food Distributors, Inc. and its debtor affiliates in the adversary proceeding captioned as HARVEST SHERWOOD FOOD DISTRIBUTORS, INC., Plaintiff, v. SPROUTS FARMERS MARKET, INC., SFM, LLC D/B/A SPROUTS FARMERS MARKET, AND JOHN DOE DEFENDANTS 1-200, Defendants, Adv. Pro. No. 25-08002-sg (Bankr. N.D. Tex.). At trial, Sprouts' expert witness, Keith Bierman, will not offer an expert opinion regarding: (i) Sprouts' contractual obligations relating to its relationships with vendors, (ii) the parties' contractual rights and expectations, including, but not limited to, whether or not Harvest owed an obligation or represented to Sprouts that it would timely pay vendors, and (iii) any and all other matters that would constitute a legal conclusion to be determined by the Court. Mr. Bierman may assume facts to be true or false regarding these subjects or otherwise generally discuss the documents and underlying information he reviewed, but he will not offer an expert opinion as to whether they are, in fact, true or false. Mr. Bierman's expert opinions will be limited to: (i) Harvest's financial condition preceding and after Sprouts' announcement that it intended to move to self-distribution; (ii) Harvest's books and records, including ledgers showing amounts owed to Sprouts' vendors, timing of payment/agings of such amounts, logging of purchase orders/invoices, GRNI, and amounts alleged to be owed by Sprouts; (iii) Harvest's shipping/receiving records; (iv) Sprouts' payments to vendors, including analysis and verification relating thereto; (v) Sprouts' offsets/recoupment amounts; (vi) Sprouts' damages, including payments made to vendors exceeding offsets/recoupment amounts, lost profits, and incidental costs; (vii) Sprouts' assertion that Harvest has no damages; and (vii) rebuttal opinions relating to the Byars report as provided in Bierman's rebuttal report. A copy of the Court's Order dated June 16, 2026, is available at https://urlcurt.com/u?l=OH6lBT from PacerMonitor.com. About Harvest Sherwood Food Distributors Harvest Sherwood is a U.S.-based national food distribution company formed through the merger of Sherwood Food Distributors and Harvest Food Distributors. It operates 14 distribution centers and delivers over 32 million pounds of food weekly to customers including retailers, cruise lines, and food service providers. In early 2025, the Company initiated the wind-down of its operations and is pursuing asset sales through Chapter 11 proceedings to facilitate an orderly wind down of its estates. On May 5, 2025, Harvest Sherwood Food Distributors, Inc., and its affiliates sought Chapter 11 protection (Bankr. N.D. Tex. Lead Case No. 25-80109). The Hon. Stacey G. Jernigan is the case judge. Harvest Sherwood listed $1 billion to $10 billion in assets against $500 million to $1 billion in liabilities as of the bankruptcy filing. The Debtors tapped Sidley Austin LLP as general bankruptcy counsel, MERU, LLC, as financial advisor, and Hilco Commercail Industrial LLC and Hilco Receivables, LLC, as restructuring advisor. EPIQ Corporate Restructuring, LLC, is the claims agent. The official committee of unsecured creditors retained McDermott Will & Emery LLP as counsel and Province, LLC as financial advisor. HEAL BY TOUCH: Ruediger Mueller of TCMI Named Subchapter V Trustee ------------------------------------------------------------------ The Acting U.S. Trustee for Region 21 appointed Ruediger Mueller of TCMI, Inc. as Subchapter V trustee for Heal By Touch, Inc. Mr. Mueller will be paid an hourly fee of $400 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Mueller declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Ruediger Mueller TCMI, Inc. 1112 Watson Court Reunion, FL 34747 Telephone: (678) 863-0473 Facsimile: (407) 540-9306 Email: truste@tcmius.com About Heal By Touch Inc. Heal By Touch, Inc. filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. M.D. Fla. Case No. 26-04898) on June 8, 2026, with $100,001 to $500,000 in assets and $500,001 to $1 million in liabilities. Judge Catherine Peek Mcewen presides over the case. Buddy D. Ford, Esq., at Ford & Semach, P.A. represents the Debtor as legal counsel. HIDALGO GROUP: Seeks to Employ Taveras Legal as Litigation Counsel ------------------------------------------------------------------ Hidalgo Group, LLC seeks approval from the U.S. Bankruptcy Court for the Southern District of Florida to employ Taveras Legal, PLLC to serve as special litigation counsel. The firm will provide these services: (a) representing the Debtor in the Litigation Matters and any directly related proceedings; (b) evaluating, prosecuting, and defending claims, counterclaims, crossclaims, affirmative defenses, and third-party claims; (c) advising the Debtor regarding litigation strategy, settlement, and case management; (d) preparing and filing pleadings, motions, discovery, and other papers as may be necessary or appropriate; (e) appearing in hearings, depositions, mediations, arbitrations, and trial proceedings; and (f) performing such other litigation-related services as may be necessary and appropriate in connection with the Litigation Matters. The Firm will be compensated at these hourly rates: – $325 for attorney work – $150 for law clerk work – $175 for paralegal work – $100 for legal assistant work The engagement also provides for reimbursement of reasonable out-of-pocket expenses, excluding overhead costs. No initial retainer was required, and the previously contemplated $10,000 fee retainer and $10,000 cost retainer were waived, as was the 1.5% interest charge on late payments. The firm previously represented the Debtor in prepetition litigation matters involving Otis McAllister, Inc. and UETA Ship Supply LLC and received $11,634.84 in prepetition compensation, as well as $3,485 for postpetition services, with no amounts currently outstanding. Taveras Legal, PLLC is disclosed to be a "disinterested" person within the meaning of the Bankruptcy Code and does not hold or represent any interest adverse to the Debtor or the estate in connection with the matters for which it is to be employed. The firm can be reached at: Elizabeth Taveras, Esq. Taveras Legal PLLC Miami, FL 33166 Telephone: (561) 373-3114 E-mail: Elizabeth@taveraslegal.com About Hidalgo Group LLC Hidalgo Group, LLC is a business entity engaged in general commercial operations, including investment and management services. Hidalgo Group, LLC sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-14274) on April 6, 2026. In its petition, the Debtor reports estimated assets of $1 million to $10 million and estimated liabilities of $100,001 to $500,000. Judge Peter D Russin oversees the case. The Debtor is represented by Jesus Santiago, Esq. HIDALGO GROUP: Taps Cowheard Singer for Accounting Services ----------------------------------------------------------- Hidalgo Group, LLC seeks approval from the U.S. Bankruptcy Court for the Southern District of Florida to employ Cowheard, Singer & Company P.A. to provide expert forensic accounting and litigation support services. The firm will provide these services: (a) financial and accounting analysis related to the referenced litigation; (b) forensic/expert consulting services to assist counsel in understanding and presenting financial issues; (c) preparation of written expert reports to support the firm's conclusions, for use in litigation; (d) deposition testimony as expert witnesses; (e) trial testimony as expert witnesses; (f) ongoing consultation with counsel regarding the bases, relevance, and reliability of the firm's expert opinions and anticipated testimony; (g) cooperation with counsel in responding to subpoenas or requests for information concerning the firm's work, including potential production of work papers if required; (h) maintenance and control of the firm's working papers and electronic document files related to the engagement, with access only as mutually approved; and (i) other financial and accounting analysis relating to the Debtor. The Debtor will compensate Cowheard, Singer & Company P.A. at these standard hourly rates for the professionals: Partners $395 - $450 Directors $250 - $275 Managers $200 - $225 Supervisors $165 - $185 Staff and Seniors $120 - $135 The Debtor is currently holding a retainer of $10,000. Cowheard, Singer & Company P.A. and its professionals are "disinterested persons" within the meaning of 11 U.S.C. § 101(14), according to court filings. The firm can be reached at: David Cowheard, CPA COWHEARD, SINGER & COMPANY P.A. 7200 NW 19th Street, Suite 202 Miami, FL 33126 Telephone: (786) 433-8900 About Hidalgo Group LLC Hidalgo Group, LLC is a business entity engaged in general commercial operations, including investment and management services. Hidalgo Group, LLC sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-14274) on April 6, 2026. In its petition, the Debtor reports estimated assets of $1 million to $10 million and estimated liabilities of $100,001 to $500,000. Judge Laurel M Isicoff oversees the case. The Debtor is represented by Jesus Santiago, Esq. HIDDEN VALLEY: Trustee Taps Burr & Forman LLP as Bankruptcy Counsel ------------------------------------------------------------------- Gary Murphey, Subchapter V Trustee of Hidden Valley Lakes Trustees, Inc., seeks approval from the U.S. Bankruptcy Court for the Middle District of Tennessee to employ Burr & Forman LLP as his counsel. The firm's services include: a. advising the Trustee with respect to its powers and duties as Trustee accord to the Agreed Order Resolving U.S. Trustee's Motion to Expand the Powers and Duties of the Subchapter V Trustee and Debtor's Motion to Excuse Turnover (D.E. 36); b. appearance in appropriate court on behalf of the Trustee as well as participation and representation of the Trustee in depositions and settlement negotiations; c. examination of Debtor, or officers of the Debtor, and other parties as to the acts, conduct and property of the Debtor; d. identification (including research) and prosecution of claims and causes of action assertable by the Trustee on behalf of the estate, including but not limited to actions under 11 U.S.C. Sec. 544, Sec. 554, Sec. 546, Sec. 547, Sec. 548, and Sec. 549; e. prosecution of objections to claims and motions for administrative expenses; f. preparation of any and all notices of sale of assets and motions for compromise and settlement in connection with settlement of estate causes of action; g. providing legal services required in the performance of the trustee's administrative tasks; h. performing all other necessary legal services for the Trustee in connection with this chapter 11 case. Burr & Forman's current hourly rates are: David W. Houston, IV $720 Charles Nugent $450 Partners $500 to $965 Of Counsel $475 to $625 Associates $350 to $535 Paralegals $150 to $450 David W. Houston, IV, a partner of Burr & Forman LLC, assured the court that the firm is disinterested within the meaning of 11 U.S.C. Secs. 101(14) and 327. The firm can be reached through: David W. Houston, Esq. Charles E. Nugent, Esq. BURR & FORMAN LLP 222 Second Avenue South, Suite 2000 Nashville, TN 37201 Telephone: (615) 724-3200 Email: dhouston@burr.com cnugent@burr.com About Hidden Valley Lakes Trustees, Inc. Hidden Valley Lakes Trustees, Inc. sought protection under Chapter 11 of the Bankruptcy Code (Bankr. M.D. Tenn. Case No. 1:26-bk-02432) on May 21, 2026. At the time of filing, the Debtor had estimated assets of between $1,000,001 and $10 million and liabilities of between $500,001 and $1 million. Judge Randal S. Mashburn oversees the case. Sherrard Roe Voigt & Harbison, PLC is Debtor's legal counsel. HIGHLAND CAPITAL: Dugaboy Investment Trust's Rule 60 Motion Tossed ------------------------------------------------------------------ The U.S. Bankruptcy Court for the Northern District of Texas denied the Rule 60 Motion filed by Dugaboy Investment Trust in the bankruptcy case of Highland Capital Management, LP. The Court sustained Dugaboy Investment Trust's objection to the admission of Highland Capital's Exhibit 300. Pending before the Court is a Memorandum of Law in Support of the Dugaboy Investment Trust's Motion for Relief from Order and Motion to Vacate (the "Rule 60 Motion"). The Rule 60 Motion received objections from Highland Capital Management, L.P. and the Highland Claimant Trust (collectively, "Highland Capital"), which were joined by Hunter Mountain Investment Trust, Beacon Mountain LLC, Rand Advisors, LLC, Rand PE Fund I, LP, Rand PE Fund Management, LLC, Atlas IDF, LP, and Atlas IDF GP, LLC (collectively, the "HMIT Entities"). Post-confirmation, on October 15, 2021, the litigation trustee of the Debtor's litigation sub-trust, Mark Kirschner, initiated an adversary proceeding against 20 defendants, including Nancy Dondero as trustee of the Dugaboy Investment Trust ("Dugaboy") and Hunter Mountain Investment Trust ("HMIT"). Seeking to resolve their many differences, including the claims asserted by Mr. Kirschner, the Debtor and the HMIT Entities reached a settlement for which they sought this Court's approval. According to the Motion for Entry of an Order Pursuant to Bankruptcy Rule 9019 and 11 U.S.C. Sec. 363 Approving Settlement with the HMIT Entities and Authorizing Actions Consistent Therewith ("9019 Motion"), HMIT's Class B/C Limited Partnership Interest "represented 99.50% of the Debtor's prepetition total equity[,]" and the remaining 0.50% represented the Class A Limited Partnership Interest. The settlement agreement, filed separately from the 9019 Motion, includes broadly defined mutual releases, dismissal of pending litigation, cash payments to HMIT, valuation of HMIT's class 10 interest in Debtor's plan, and a transfer of claims alleged by Mr. Kirschner in Case No. 21-03076 to HMIT. Mark Patrick, the administrator of HMIT, signed the settlement agreement on behalf of the HMIT Entities. The 9019 Motion was approved the same day, and the Court entered an order to that effect on June 30, 2025 (the "9019 Order"). On July 14, 2025, Dugaboy and Patrick Daugherty each appealed the 9019 Order to the District Court. This appeal is not resolved. Rule 60 Motion The Rule 60 Motion argues two reasons for vacating the 9019 Order: (1) newly discovered evidence demonstrates that the settlement was the product of fraud and misconduct; and (2) the presiding judge that entered the 9019 Order was without authority to do so because she was disqualified. According to Dugaboy's Rule 60 Motion, Mark Patrick was without authority to settle on behalf of the HMIT Entities because he breached fiduciary duties owed to HMIT's charitable beneficiaries. Moreover, the scope and effect of Mr. Patrick's alleged misconduct could not have been discovered with due diligence prior to entry of the 9019 Order. Thus, under Rule 60(b)(2) and (3), the Court should vacate the 9019 Order. As newly discovered evidence, the Rule 60 Motion points to proceedings involving a charitable donor advised fund in the Grand Cayman Islands, over which joint official liquidators ("JOLs") were appointed. According to the JOLs, Mr. Patrick "effectuated the DAF restructuring and thereby fraudulently absconded with $270 million in charitable assets belonging to the charitable owners." The DAF restructuring, said most succinctly, refers to a series of transactions undertaken by Mr. Patrick to dissolve certain charitable beneficiaries' interests in HMIT's assets. To Dugaboy, such conduct amounted to a breach of fiduciary duties that divested Mr. Patrick of his authority over the HMIT Entities. And because these alleged breaches occurred before the settlement was reached, the 9019 Order should be vacated. Highland Capital's objection argues that none of Dugaboy's evidence of Mr. Patrick's alleged fraud or breaches of fiduciary duties is newly discovered. Dugaboy, Highland Capital contends, knew everything it needed to know about the relevant entity restructurings to challenge Mr. Patrick's authority to sign the settlement agreement on behalf of the HMIT Entities before June 25, 2025. And to the extent Dugaboy learned any additional information after this date, it could have timely moved for a new trial under Rule 59.8 Dugaboy, thus, cannot meet the standard under Rule 60(b)(2). Highland Capital also argues that Dugaboy cannot meet its burden under Rule 60(b)(3) because it fails to allege that an opposing party committed any fraud, misrepresentation, or misconduct in seeking entry of the 9019 Order. Lastly, based on the pending appeal of the 9019 Order, Highland Capital urges the Court to deny the Rule 60 Motion for lack of jurisdiction. The Court agrees with Highland Capital that Dugaboy had, or could have obtained via discovery before trial on the 9019 Motion, all the facts necessary to challenge Mr. Patrick's authority to settle on behalf of the HMIT Entities. Reviewing James Dondero's Affidavit ("Dondero Affidavit"), filed April 16, 2025, in the Grand Court of the Cayman Islands, lends support for this conclusion. The Court concludes overall, there is no evidence, much less clear and convincing evidence, that Highland Capital withheld evidence from Dugaboy that prevented it from fully and fairly litigating its case prior to entry of the 9019 Order. Thus, Rule 60(b)(3) vacatur of the 9019 Order is not appropriate. The overwhelming majority of Dugaboy's arguments focused on Mr. Patrick's restructuring of entities related to HMIT's charitable beneficiaries (referred to during trial as the DAF restructuring). There is no reason, as a Court of equity, to reassess whether the settlement was the product of arm's-length, good faith negotiations. Whatever Mr. Patrick did or did not do with his authority over HMIT assets and the charitable beneficiaries' structure, is not for this Court to decide. And Rule 60(b)(6) relief is likewise inappropriate, because Dugaboy failed to articulate a "mutually exclusive" reason for vacating the 9019 Order. Duagboy's request for equitable relief is identical to its requests for relief under Rule 60(b)(3). According to the Court, this is insufficient and, thus, the request is denied. Highland Capital's Exhibit 300 Highland Capital used its Exhibit 300 for impeachment purposes during its cross-examination of Margot MacInnis, who is one of the joint official liquidators in the proceeding pending in the Grand Cayman Islands. Primarily, the information contained in Highland Capital's Exhibit 300 is meant to demonstrate that counsel for James Dondero, the beneficiary of Dugaboy, was provided access to Ms. MacInnis's affidavit despite a Grand Cayman Islands court order that prohibited such access The Court denies admission of Highland Capital's Exhibit 300. The evidence is not relevant. Without this evidence, it is not more or less probable that Mark Patrick had authority to settle on behalf of the HMIT Entities, nor is it of consequence to determine the Rule 60 Motion. A copy of the Court's Memorandum Opinion dated June 15, 2026, is available at https://urlcurt.com/u?l=fkDMV0 from PacerMonitor.com. About Highland Capital Management Highland Capital Management, LP was founded by James Dondero and Mark Okada in Dallas in 1993. Highland Capital is the world's largest non-bank buyer of leveraged loans in 2007. It also manages collateralized loan obligations. In March 2007, it raised $1 billion to buy distressed loans. Collateralized loan obligations are created by bundling together loans and repackaging them into new securities. Highland Capital Management sought Chapter 11 protection (Bank. D. Del. Case No. 19-12239) on Oct. 16, 2019. On Dec. 4, 2019, the case was transferred to the U.S. Bankruptcy Court for the Northern District of Texas and was assigned a new case number (Bank. N.D. Tex. Case No. 19-34054). Judge Stacey G. Jernigan is the case judge. At the time of the filing, Highland had between $100 million and $500 million in both assets and liabilities. The Debtor tapped Pachulski Stang Ziehl & Jones LLP as bankruptcy counsel, Foley & Lardner LLP as special Texas counsel, and Teneo Capital, LLC as litigation advisor. Kurtzman Carson Consultants, LLC, is the claims and noticing agent. The U.S. Trustee for Region 6 appointed a committee of unsecured creditors on Oct. 29, 2019. The committee tapped Sidley Austin LLP and Young Conaway Stargatt & Taylor LLP as bankruptcy counsel, and FTI Consulting, Inc. as financial advisor. HYBAR LLC: S&P Rates Proposed $400MM Senior Secured Notes 'B-' -------------------------------------------------------------- S&P Global Ratings assigned its 'B-' issue-level rating and '3' recovery rating to Arkansas-based rebar producer Hybar LLC's proposed $400 million senior secured notes due 2034. The '3' recovery rating indicates its expectation for meaningful (50%-70%; rounded estimate: 65%) recovery in the event of a payment default. S&P based its ratings on the preliminary terms and conditions of the proposed issuance. The company will use proceeds from this issuance and a mix of other sources including tax-exempt bonds to refinance its capital structure and fund its Hybar II expansion project. Issue Ratings--Recovery Analysis Key analytical factors -- The pro forma capital structure consists of pari passu debt namely a new $75 million asset-based lending (ABL) revolving credit facility due in 2031, $330.1 million of series 2026A/B bonds, $330 million of series 2023A/B bonds, and $400 million of senior secured notes due 2034. -- S&P assigned a '3' recovery rating and a 'B-' issue-level rating to the company's secured debt. The recovery rating indicates its expectation for meaningful (50%-70%; rounded estimate: 65%) recovery in the event of a conventional payment default. -- S&P assumes reorganization (as opposed to asset liquidation) would maximize recovery for creditors with a gross valuation of approximately $835 million, reflecting about $152 million of emergence EBITDA and a 5.5x multiple. -- The $152 million emergence EBITDA incorporates S&P's standard recovery assumptions for minimum capex (about 6% of sales) and 15% cyclicality adjustment for issuers in the metals and mining downstream sector. -- The 5.5x multiple is in line with multiples we assign to other companies in the metals and mining downstream sector. -- S&P's recovery analysis also assumes, in a hypothetical bankruptcy scenario, Hybar would have drawn about 60% of the commitment under its ABL facility (net of letters of credit) at default, approximately $45 million. Simulated default assumptions -- Year of default: 2028 -- Emergence EBITDA: $152 million -- EBITDA multiple: 5.5x -- Gross recovery value: $835 million Simplified waterfall -- Net recovery value for waterfall after administrative expenses (5%): $792 million -- Obligor/nonobligor valuation split: 100%/0% -- Priority claims (ABL borrowings): $46 million -- Total value available to first-lien debt: $746 million -- Estimated first-lien debt claims: $1.1 billion --Recovery expectation: 50%-70% (rounded estimate: 65%) All estimated claims include an assumption for accrued but unpaid interest outstanding at default. IHOUSE REALTY: Unsecureds to Get .53 Cents on Dollar in Plan ------------------------------------------------------------ IHouse Realty Solutions, LLC, filed with the U.S. Bankruptcy Court for the District of Maryland a Disclosure Statement describing Chapter 11 Plan dated June 5, 2026. The Debtor is a Maryland Limited Liability Company formed on April 27, 2018, for the purpose of providing real estate services. The Debtor is owned by Troy Townes, an individual resident of the state of Maryland. The Debtor intended to buy, sell and maintain real estate in the State of Maryland. On November 9, 2018, the Debtor purchased the property located at 6606 Park Heights Avenue, Unit 803, Baltimore MD 21215. After the purchase of the property, the sole member of the Debtor, Troy Townes, moved into the unit. After the purchase of the property on Park Heights Avenue, Mr. Townes was diagnosed with cancer and began active treatment. During the period of treatment, Mr. Townes was unable to work as a real estate agent and was unable to generate income. The Debtor fell behind on its condominium dues and has attempted to negotiate the balance due to the condominium association, The Council Of Unit Owners Of Imperial Condominium, Inc., hereinafter "the Condominium Association", and those negotiations were unsuccessful. The Condominium Association obtained a judgment against the Debtor on July 8, 2024, in the amount of $116,067.81, plus interest. On August 8, 2025, a writ of execution was issued and the Condominium Association began the process of selling the unit at a sheriff's auction. On December 10, 2025, this case was filed to stop the auction and to allow the Debtor to reorganize its affairs. Class 3 consists of General Unsecured Claims. The Debtor has the following general unsecured claims: * Law Office of J. Scott Morse, LLC - $767.72 * The Council Of Unit Owners Of Imperial Condominium, Inc., pursuant to its claim is unsecured in the amount of $69,219.87, and is further unsecured in the amount of $72,826.09, the amount that its secured claim exceeds the value of the unit. The total unsecured amount of the Condominium Association's claim is $142,045.96. The Debtor will pay the unsecured creditors $100.00 per month, pro-rata, commencing thirty days after the effective date. Each creditor will receive .53 cents on the dollar of its claim. The Debtor may elect to pay the Law Office of J. Scott Morse, LLC in one payment of $40.69 on the effective date of the Plan. This class is Impaired. Payments and distributions under the Plan will be funded by the following: * The monthly payments to the Class One Creditor will funded from the Debtor's monthly income, which will consist of contribution payments to be made by Mr. Townes, the sole member of the Debtor. * All funds for the payments and distributions to the Class Two Creditor will funded from the Debtor's monthly income, which will consist of contribution payments to be made by Mr. Townes, the sole member of the Debtor. * All funds for the payments to the Class Three Creditors will be funded from the Debtor's monthly income, which will consist of contribution payments to be made by Mr. Townes, the sole member of the Debtor. A full-text copy of the Disclosure Statement dated June 5, 2026 is available at https://urlcurt.com/u?l=2DP6hV from PacerMonitor.com at no charge. Counsel to the Debtor: Geri Lyons Chase, Esq. Law Office of Geri Lyons Chase 2007 Tidewater Colony Drive, Suite 2B Annapolis, MD 21401 Telephone: (410) 573-9004 Email: gchase@glchaselaw.com About IHouse Realty Solutions IHouse Realty Solutions, LLC, is a Maryland Limited Liability Company formed on April 27, 2018, for the purpose of providing real estate services. The Debtor sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Md. Case No. 25-21568) on December 10, 2025, listing under $1 million in both assets and liabilities. The Debtor is represented by the Law Office of Geri Lyons Chase. INOTIV INC: Case Summary & 30 Largest Unsecured Creditors --------------------------------------------------------- Nineteen affiliates that concurrently filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code: Debtor Case No. ------ -------- Inotiv, Inc. (Lead Case) 26-90601 2701 Kent Avenue West Lafayette Indiana 47906 Inotiv LAMS West Inc. 26-90600 ERPP, Inc. 26-90602 BAS Evansville, Inc. 26-90603 Histion LLC 26-90604 BASi Gaithersburg, LLC 26-90605 Inotiv Boulder, LLC 26-90606 Inotiv Nashville, LLC 26-90607 Bronco Research Services, LLC 26-90608 Inotiv Research Models, LLC 26-90609 Envigo Bioproducts, Inc. 26-90610 Integrated Laboratory Systems, LLC 26-90611 Precisium Solutions, LLC 26-90612 Envigo Global Services Inc. 26-90613 Envigo Holding I, Inc. 26-90614 Seventh Wave Laboratories LLC 26-90615 Envigo New Holdco, LLC 26-90616 Envigo RMS B.V. Inc. 26-90617 Envigo RMS LLC 26-90618 Business Description: Inotiv, Inc. is a contract research organization founded in 1974 and based in West Lafayette, Indiana. The company provides nonclinical and analytical drug discovery and development services and supplies research models and related products. Inotiv serves customers in the pharmaceutical, biotechnology, and medical device industries, with operations organized into Discovery and Safety Assessment and Research Models and Services segments. Chapter 11 Petition Date: June 3, 2026 Court: United States Bankruptcy Court Southern District of Texas Judge: Hon. Christopher M Lopez Debtors' Bankruptcy Co-Counsel: Timothy A. ("Tad") Davidson II, Esq. Philip M. Guffy, Esq. Kaleb Bailey, Esq. HUNTON ANDREWS KURTH LLP 600 Travis Street, Suite 4200 Houston, Texas 77002 Tel: (713) 220-4200 Fax: (713) 220-4285 Email: taddavidson@hunton.com pguffy@hunton.com kbailey@hunton.com Debtors' General Bankruptcy Counsel: Cristine Pirro Schwarzman, Esq. Daniel I. Forman, Esq. ROPES & GRAY LLP 1211 Avenue of the Americas New York, New York 10036 Tel: (212) 596-9000 Fax: (212) 596-9090 Email: cristine.schwarzman@ropesgray.com dan.forman@ropesgray.com Debtors' Investment Banker: PERELLA WEINBERG PARTNERS Debtors' Financial Advisor: FTI CONSULTING, INC. Debtors' Notice, Claims, Solicitation & Balloting Agent: KROLL RESTRUCTURING ADMINISTRATION LLC Total Assets as of March 31, 2026: $702,418,000 Total Debts as of March 31, 2026: $625,319,000 The petitions were signed by Robert Leasure, Jr. as president. A full-text copy of the Lead Debtor's petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/SD3WKKA/Inotiv_Inc__txsbke-26-90601__0001.0.pdf?mcid=tGE4TAMA Consolidated List of Debtors' 30 Largest Unsecured Creditors: Entity Nature of Claim Claim Amount 1. U.S. Bank National Association Unsecured Debt $131,667,000 10 W Market Street Suite 830 Indianapolis, IN 46204 Contact: Name on File Tel: 800-872-2657; 651-466-3000 Email: INVESTORRELATIONS@USBANK.COM 2. Orient Bio, Inc. Unsecured Debt $3,235,000 322, Galmachi-Ro Jungwon-Gu, Seongnam-Si, Gyeonggi-Do 13201 South Korea Contact: Name on File Tel: 82-51-305-5856 Fax: 82-31-730-6760 Email: CSJ@ORIENT.CO.KR 3. Covington and Burling LLP Professional $2,731,325 One City Center Services 850 10th St NW Washington, DC 20001 Contact: Name on File Tel: 202-662-6000 Fax: 202-662-6291 Email: COLLECTIONS@COV.COM 4. Name on File Trade $927,415 Address on File Contact: Name on File 5. Proskauer Rose LLP Professional $837,187 Eleven Times Square Services New York, NY 10036 Contact: Name on File Tel: 212-969-3000 Fax: 212-969-2900 Email: Email Address on File 6. Name on File Trade $811,862 Address on File Contact: Name on File 7. Name on File Trade $800,094 Address on File Contact: Name on File 8. Name on File Trade $761,855 Address on File Contact: Name on File 9. McGuireWoods LLP Professional $725,960 800 E Canal St Services Richmond, VA 23219 Contact: Name on File Tel: 919-755-6600 Email: Email Address on File 10. Name on File Trade $686,769 Address on File Contact: Name on File 11. Name on File Trade $501,442 Address on File Contact: Name on File 12. Name on File Trade $300,185 Address on File Contact: Name on File 13. Google LLC Other $300,000 1600 Amphitheatre Parkway Mountain View, CA 94043 Contact: Name on File Tel: 212-969-3000 Email: COLLECTIONS@GOOGLE.COM 14. Name on File Trade $285,465 Address on File Contact: Name on File 15. Cohen & Malad, LLP Litigation $275,000 One Indiana Square Suite 1400 Indianapolis, IN 46204 Contact: Name on File Tel: 317-636-6481 Email: Email Address on File 16. Name on File Trade $248,758 Address on File Contact: Name on File 17. Name on File Trade $227,907 Address on File Contact: Name on File 18. Name on File Trade $202,267 Address on File Contact: Name on File 19. Faegre Drinker Biddle & Professional $196,452 Reath LLP Services 2200 Wells Fargo Center 90 S 7th St Minneapolis, MN 55402 Contact: Name on File Tel: 317-237-1366 Email: REMITTANCEADVICE@FAEGREDRINKER.COM 20. Name on File Trade $190,094 Address on File Contact: Name on File 21. AssuredPartners NL, LLC Insurance $184,311 4500 Town Center Blvd. Suite 200 Jeffersonville, IN 47130 Contact: Name on File Tel: 270-393-6242 Email: Email Address on File 22. Name on File Trade $181,548 Address on File Contact: Name on File 23. Name on File Trade $180,499 Address on File Contact: Name on File 24. Microsoft Corporation Professional $167,725 One Microsoft Way Services Redmond, WA 98052 Contact: Name on File Tel: 425-882-8080 Email: Email Address on File 25. Corcentric Inc Professional $166,774 100 Lakeview Dr Services Suite 100 Cherry Hill, NJ 08002 Contact: Name on File Tel: 703-790-8740; 856-382-2000 Email: ARREMITTANCE@CORCENTRIC.COM 26. Name on File Trade $161,554 Address on File Contact: Name on File 27. Name on File Trade $158,770 Address on File Contact: Name on File 28. Softchoice Corporation Professional $156,371 16609 Collections Center Drive Services Chicago, IL 60693 Contact: Name on File Tel: 416-583-7838 Email: TREASURY@SOFTCHOICE.COM 29. Name on File Trade $138,513 Address on File Contact: Name on File 30. Name on File Trade $134,221 Address on File Contact: Name on File JEWELRY DESIGNER: Court OKs Final Deal to Use Cash Collateral ------------------------------------------------------------- The U.S. Bankruptcy Court for the Eastern District of New York approved a stipulation allowing Jewelry Designer Showcase, Inc. to use cash collateral. The agreement was reached between the debtor and secured creditors Steveline, Inc. and Steven P. D'Angelo, enabling the company to continue operating and generating revenue while pursuing reorganization. As part of the stipulation, the Debtor acknowledged the validity of the secured creditor's prepetition claim of approximately $4.17 million, secured by accounts receivable, inventory, jewelry, precious metals, gemstones, and watches. The Debtor also agreed to release challenges to the claim and lien upon approval of a related settlement resolving an adversary proceeding that had disputed the creditor's claim and security interests. To protect the secured creditor against any decline in collateral value, the court granted first-priority post-petition replacement liens on the Debtor's existing and future accounts receivable, inventory, and related proceeds, up to $141,443.35, together with superpriority administrative expense claims under Bankruptcy Code section 507(b) to the extent the liens prove insufficient. The order also permits the secured creditor to monitor and inspect collateral and cash collateral during the case. The Debtor may use cash collateral in the ordinary course of business until a termination event occurs, subject to the terms of the stipulation. The order restricts the use of cash collateral to challenge the secured creditor's claims or liens, preserves the creditor's rights to seek additional relief, and provides that the agreement remains effective unless the court fails to approve the related settlement resolving the adversary proceeding. About Jewelry Designer Showcase Jewelry Designer Showcase Inc. is a jewelry designer in Staten Island, N.Y. It conducts business under the name Dannunzio Designed. Jewelry Designer Showcase filed Chapter 11 petition (Bankr. E.D.N.Y. Case No. 25-40076) on January 9, 2025, with up to $50,000 in assets and up to $10 million in liabilities. Judge Elizabeth S. Stong handles the case. Avrum J. Rosen, Esq., at the Law Offices of Avrum J. Rosen, PLLC, is the Debtor's bankruptcy counsel. JMAY REALTY: Employs Christina Herrera as Real Estate Broker ------------------------------------------------------------ JMAY Realty Investment Co seeks approval from the U.S. Bankruptcy Court for the Southern District of Texas to employ Christina Herrera of the TUT Group to serve as real estate broker. Ms. Herrera will provide these services: (a) serve as the Debtor's sole and exclusive real estate agent with the exclusive right to sell the identified properties; (b) market and list the Debtor's real properties for sale, including 4203 Church Street and 611 31st Street, Galveston, Texas; (c) facilitate and assist in the sale of the listed properties; and (d) perform services related to the listing agreements for the sale of the properties under the approved broker engagement. Christina Herrera will receive compensation in the form of a 3% commission of the sales price of the Properties pursuant to the listing agreements. Christina Herrera, according to the declaration filed, represents that she is a "disinterested" person as that term is defined in the Bankruptcy Code and that she has no adverse interest to the Debtor or its estate. The professional can be reached at: Christina Herrera TUT Group / NextHome Luxury Premier 2700 Post Oak Blvd, 21st Floor Houston, TX 77056 Telephone: (281) 881-5389 Email: TheTutGroup@gmail.com Tina@thetutgroup.com About JMAY Realty Investment Co. JMAY Realty Investment Co. holds and rents out real estate assets to tenants as part of its property investment operations. JMAY Realty Investment Co. filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Tex. Case No. 26-80135) on March 2, 2026, listing $1 million to $10 million in assets and $500,000 to $1 million in liabilities. The petition was signed by Rejone Edwards as president. Judge Alfredo R Perez presides over the case. Broocks Wilson, Esq. at Wilson Friery PLLC serves as the Debtor's counsel. KEY POINT: Stanley Bond Named Subchapter V Trustee -------------------------------------------------- The Acting U.S. Trustee for Region 13 appointed Stanley Bond as Subchapter V trustee for Key Point Arkansas, LLC. Mr. Bond will be paid an hourly fee of $250 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Bond declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Stanley V. Bond P.O. Box 1893 Fayetteville, AR 72702 479-444-0255 Email: attybond@me.com About Key Point Arkansas LLC Key Point Arkansas, LLC filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. E.D. Ark. Case No. 26-12265) on June 8, 2026, with between $100,001 and $500,000 in both assets and liabilities. Anh-Thu Cecille Doan, Esq., at the Law Offices Of Cecille Doan represents the Debtor as bankruptcy counsel. LASEN INC: Affiliate Gets Extension to Access Cash Collateral ------------------------------------------------------------- The U.S. Bankruptcy Court for the District of Arizona entered a third stipulated order allowing SkySkopes, Inc., an affiliate of Lasen, Inc., to continue using cash collateral. This relief follows earlier interim and final orders, which had already authorized such use and were periodically extended by agreement between SkySkopes and its secured lender, Old National Bank (successor to Bremer Bank). Under the third stipulated order, the Debtor is permitted to use cash collateral through July 3, strictly in accordance with its latest budget. The funds are to be used only for ordinary, necessary, and essential post-petition operating expenses, ensuring continued business operations during the bankruptcy process. The court confirmed that all prior findings and terms from the final cash collateral order remain in effect. A copy of the Debtor's budget is available at https://l1nq.com/a086bso from PacerMonitor.com. About Lasen Inc. Lasen Inc. develops and operates airborne LiDAR systems for leak detection and pipeline inspections across North America. The Company's proprietary Airborne LiDAR Pipeline Inspection System (ALPIS) identifies methane leaks with high accuracy and efficiency, supporting right-of-way and transmission line monitoring. founded in 1989, LaSen has inspected over 500,000 miles of pipeline and specializes in remote sensing technologies adapted from U.S. defense applications. Lasen Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Ariz. Case No. 25-05316) on June 11, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. Honorable Bankruptcy Judge Brenda K. Martin handles the case. The Debtors are represented by Randy Nussbaum, Esq., at Cavanagh Law Firm. LIGHTHOUSE COMMUNITY: Gets Final OK to Use Cash Collateral ---------------------------------------------------------- The U.S. Bankruptcy Court for the Northern District of Georgia, Atlanta Division, entered a final order authorizing The Lighthouse Community Hospice, Inc. to use cash collateral. Under the order, the Debtor may use cash collateral to pay reasonable and necessary operating expenses during the cash collateral period, provided it complies with the approved six-month budget. The Debtor may not exceed any budgeted expense line item by more than 10% without obtaining consent from Kalamata Capital Group, LLC and the United States Trustee or further court approval. Any payroll variance above budget cannot be used to increase compensation to principal Jocelyn D. Campbell. As part of the adequate protection package, lenders claiming security interests in the Debtor's assets are granted replacement liens on postpetition property of the same nature and priority as their prepetition collateral, excluding proceeds from avoidance actions. The court also ordered the Debtor to make monthly deposits of $1,000 to the Subchapter V Trustee beginning June 21, to fund any future trustee compensation awarded by the court. Additionally, Kalamata Capital Group, LLC is entitled to monthly adequate protection payments of $2,500 beginning August 21, 2026, and continuing until confirmation of a reorganization plan. The court emphasized that the order does not determine the validity, extent, or perfection of any lender's liens, preserving all parties' rights to challenge claims or seek modification of the order at a later date. A copy of the court's order is available at https://shorturl.at/6HG82 from PacerMonitor.com. About The Lighthouse Community Hospice Inc. The Lighthouse Community Hospice, Inc. filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. N.D. Ga. Case No. 26-56086) on May 5, 2026, with $100,001 to $500,000 in both assets and liabilities. John Whaley of John T. Whaley, CPA, LLC serves as Subchapter V trustee. Angelyn M. Wright, Esq., at The Wright Law Alliance, P.C. represents the Debtor as bankruptcy counsel. LMD HOLDINGS: Court OKs DIP Loan Increase ----------------------------------------- The U.S. Bankruptcy Court for the Eastern District of Michigan approved the latest amendment to its prior order that granted LMD Holdings, LLC and Luca Mariano Distillery, LLC final approval to obtain debtor-in-possession financing. The final order had been amended to increase the DIP credit facility provided by SummitBridge National Investments VIII, LLC by $317,500, bringing total availability to approximately $1.36 million under the revised budget. The DIP credit facility now consists of a $450,000 interim draw, a $450,000 final draw, and two supplemental draws totaling $460,000. Key case milestones had also been updated, requiring the Debtors to secure court approval for the sale of substantially all assets by July 15 and close the sale by August 14, with proceeds sufficient to fully repay DIP and pre-petition secured debt. The Debtors remain bound by all obligations under the original final order, except as specifically modified by the amendment. The Debtors said the additional loan is needed to cover ongoing case administration, maintain limited operations, satisfy court-approved obligations to secured lenders and lessors, pay insurance and administrative costs, and preserve estate value during the extended sale and Chapter 11 plan confirmation process. The order is available at http://bankrupt.com/misc/LMDHoldings_2ADIPOrder.pdf About LMD Holdings LLC LMD Holdings LLC operates Luca Mariano Distillery, a beverage manufacturer located at 128 Letton Drive in Danville, Kentucky. LMD Holdings sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Mich. Case No. 25-47214) on July 17, 2025. In its petition, the Debtor reported between $1 million and $10 million in both assets and liabilities. Bankruptcy Judge Paul R. Hage handles the case. The Debtor is represented by Robert Bassel, Esq., at Robert N. Bassel. SummitBridge National Investments VIII LLC, as DIP lender, is represented by: Ronald E. Gold, Esq. Joy D. Kleisinger, Esq. Frost Brown Todd LLP 3300 Great American Tower 301 East Fourth Street Cincinnati, Ohio 45202 Telephone: (513) 651-6800 Facsimile: (513) 651-6981 rgold@fbtlaw.com jkleisinger@fbtlaw.com LOTUS TECHNOLOGY: To Suspend Some 2026 Earnings Releases -------------------------------------------------------- Lotus Technology Inc. said it will temporarily suspend earnings releases for the first and third quarters of fiscal 2026 as it prioritizes compliance and integration work tied to its planned acquisition of Lotus UK, the company said in a press release furnished as an exhibit to a Form 8-K filed with the SEC. The luxury electric vehicle company said the acquisition, expected to close in 2026, would unify Lotus Tech and Lotus UK under a One Lotus strategy, strengthen global brand positioning and improve operational efficiency. Lotus Tech said it will continue to report first-half and full-year financial results for 2026. The company said the temporary reporting adjustment does not affect its underlying business operations or financial fundamentals. About Lotus Technology Inc. Lotus Technology Inc., based in Shanghai, has operations across the U.K., EU and China and develops luxury lifestyle electric vehicles and next-generation automobility technologies, including electrification and digitalization. Grant Thornton Zhitong Certified Public Accountants LLP, which has served as Lotus Technology's auditor since 2025, included a going-concern paragraph in its April 28, 2026, audit report, citing recurring losses, an accumulated deficit of $3.16 billion, a $1.49 billion working-capital deficit and $334 million in cash used in operations for 2025. As of Dec. 31, 2025, Lotus Technology Inc. reported total assets of $1.95 billion, total liabilities of $3.28 billion and a shareholders' deficit attributable to ordinary shareholders of $1.32 billion. MARAVAI TOPCO: S&P Withdraws 'B-' Issuer Credit Rating ------------------------------------------------------ S&P Global Ratings withdrew its 'B-' issuer credit rating on U.S.-based life sciences company Maravai Topco Holdings LLC at the issuer's request following the refinancing of its capital structure. We also discontinued our 'B-' issue-level rating and '3' recovery rating on the senior secured debt facility issued by its subsidiary Maravai Intermediate Holdings LLC, comprising a $167 million revolver and $242 million outstanding term loan B, after the debt was repaid in full. The outlook on Maravai was stable at the time of the withdrawal. MILNER SPORTS: Employs Integrity Accounting as Accountants ---------------------------------------------------------- Milner Sports, LLC seeks approval from the U.S. Bankruptcy Court for the District of Colorado to employ Integrity Accounting, LLC to serve as its accountants. The firm will provide these services: (a) assist the Debtor in preparing tax-related documents and schedules; (b) provide bookkeeping services; (c) assist in preparing 2025 tax-related documents and schedules; and (d) provide other accounting-related and bookkeeping services as may be needed. Integrity Accounting, LLC will receive a flat monthly fee of $1,395 for the accounting-related services. Integrity Accounting, LLC is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code, according to court filings. The firm can be reached at: Crystal Scanlan Integrity Accounting, LLC Telephone: (303) 296-1999 Email: agarber@wgwc-law.com About Milner Sports, LLC Milner Sports, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Col. Case No. 26-13150) with $100,001 to $500,000 in assets and $1,000,001 to $10 million in liabilities. The petition was signed by Rebecca Milner as manager. Judge Hon. Kimberley H Tyson oversees the case. The Debtor is represented by: Aaron A. Garber, Esq. Tel: (303) 296-1999 Email: agarber@wgwc-law.com MOUNTAIN REGIONAL: Seeks to Extend Plan Exclusivity to July 16 -------------------------------------------------------------- Mountain Regional Equipment Solutions, LLC and MRES Holdings, LLC asked the U.S. Bankruptcy Court for the District of Utah to extend their exclusivity periods to file a plan of reorganization and obtain acceptance thereof to July 16 and Sept. 16, 2026, respectively. This Motion is the Debtors' third request for an extension of the Plan Period. It cannot be reasonably asserted that the companies are seeking an extension of the Plan Period to unfairly prejudice or pressure the Debtors' creditors. Instead, the extension requested by the Debtors is an exercise of prudent business judgment and an attempt to have adequate time to negotiate terms with secured creditor and other creditors of the estate. In sum, the requested extension of the Plan Period will facilitate the Debtors' efforts to maximize the value of their estates by providing the Debtors with a full and fair opportunity to seek acceptance of their Plans. The Debtors submit that the extension requested herein will increase the likelihood of a greater distribution to creditors than would be possible if the Debtors were required to seek confirmation without additional time to finalize acceptance of the plan with key creditors. Counsel to the Debtors: Jeffrey L. Trousdale, Esq. Cohne Kinghorn, P.C. 111 E. Broadway Eleventh Floor Salt Lake City, UT 84111 Telephone: (801) 363-4300 Facsimile: (801) 363-4378 Email: jtrousdale@ck.law Cameron M. McCord, Esq. JONES & WALDEN LLC 699 Piedmont Ave. NE Atlanta, GA 30308 Phone: (404) 564-9300 Email: cmccord@joneswalden.com About Mountain Regional Equipment Solutions Mountain Regional Equipment Solutions, LLC, supplies and services automated lubrication systems, safety systems, and maintenance products used in heavy mobile equipment and industrial machinery. It serves customers across construction, mining, transportation, agriculture, and industrial markets, with operations based in Salt Lake City, Utah. Mountain Regional Equipment Solutions sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Utah Case No. 25-27678) on Dec. 19, 2025, listing between $1 million and $10 million in assets and between $10 million and $50 million in liabilities. Todd Miceli, manager, signed the petition. Jeffrey L. Trousdale, at Cohne Kinghorn, P.C., is the Debtor's legal counsel. NAVAJO SMILES: Gets Interim OK to Use Cash Collateral ----------------------------------------------------- The U.S. Bankruptcy Court for the District of Arizona approved a stipulated interim order allowing Navajo Smiles, LLC to continue using cash collateral. The Debtor may use cash collateral to fund operations in accordance with its approved budget, subject to a 10% variance, under the terms of the previously entered cash collateral order. As part of the agreement, the Debtor must continue making adequate protection payments to Columbia State Bank on the 6th day of each month. These payments will continue until September 6, 2026, confirmation of a reorganization plan, termination of cash collateral rights following a default, or further order of the court. Events that would terminate the Debtor's authority to use cash collateral include conversion of the case to Chapter 7, dismissal of the bankruptcy case, appointment of a trustee, termination of the automatic stay in favor of Columbia, or failure to make required adequate protection payments that remains uncured after notice. Unless extended by further court order, the Debtor's authority to use cash collateral expires on September 6. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/yZas0 from PacerMonitor.com. About Navajo Smiles LLC Navajo Smiles, LLC operates a dental clinic in Peoria, Arizona. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Ariz. Case No. 2:26-bk-02081) on March 6, 2026. In the petition signed by Chad Lyons, member, the Debtor disclosed up to $500,000 in assets and up to $10 million in liabilities. Judge Brenda K. Martin oversees the case. Thomas H. Allen, Esq., at Allen, Jones & Giles, PLC, represents the Debtor as legal counsel. NAVELLIER & ASSOCIATES: Claims to be Paid from Ongoing Operations ----------------------------------------------------------------- Navellier & Associates Inc. filed with the U.S. Bankruptcy Court for the District of Nevada a Disclosure Statement describing Plan of Reorganization dated June 5, 2026. Since 1987 and even before formally incorporating, NAI has been a registered investment adviser firm, CRD# 107568/ SEC# 801-30582. NAI's primary purpose has been to provide investment and money management advice to high net worth parties. On August 31, 2017, the U.S. Securities and Exchange Commission ("SEC") filed a complaint against NAI and Mr. Louis Navellier in Boston, MA, alleging that from 2010 to 2013, NAI and Mr. Navellier misled their clients and prospective clients about the performance track records of "Vireo AlphaSector" investment strategies that NAI offered under the "Vireo" brand name. The SEC Judgment against NAI is for civil penalties in the amount of $2 million plus post-judgment interest payable to the SEC, and $29,369,890 ("Disgorgement Award") plus post-judgment interest, jointly and severally with Mr. Navellier, for disgorgement representing profits and sale proceeds allegedly gained from sales of the complained of Vireo products. NAI and Mr. Navellier appealed the SEC Judgment, which was affirmed by the First Circuit. On June 6, 2025, the United States Supreme Court denied a petition for writ of certiorari, and on August 18, 2025, denied a request for rehearing. Shortly after that, NAI filed its voluntary chapter 11 petition on Sept. 5, 2025 ("Petition Date") to preserve NAI's going concern business from the SEC's collection efforts. The Plan was crafted to optimize the value of the Debtor's current assets and business operations to generate future reoccurring revenue. Class 1A consists of Administrative Convenience Claims (Unsecured claims of $6,000 or less). The Allowed Class 1A claims each will accrue interest at 5% per annum from the Petition Date until paid in full. For administrative convenience, the Debtor shall pay the allowed Class 1A claims in one lump sum from operating revenues on or before 30 days after the Effective Date of the Plan. Accordingly, the Class 1A claims are impaired under the Plan. Class 1B Claims consists of Unsecured Claims of More Than $6,000. The Allowed Class 1B unsecured claims of more than $6,000 each will accrue interest at 5% per annum from the Petition Date until paid in full and shall be paid by the Debtor in a lump sum on February 1, 2027. Accordingly, Class 1B claims are impaired under the Plan. Class 2 consists of Subordinated Unsecured Claim of Securities & Exchange Commission (Civil Penalty). The allowed Class 2 civil penalty of $2,000,000 payable to the SEC shall accrue interest from the Petition Date until paid in full at the rate allowable under Section 1961 of the Bankruptcy Code and shall be paid by the Debtor in quarterly installments of $400,000, starting on April 1, 2027, and continuing in a like sum on the first day of each calendar quarter thereafter until paid in full. The Class 2 allowed claim is subordinated behind general unsecured creditors under Section 726(a)(4) of the Bankruptcy Code. Accordingly, the Class 2 claim is impaired under the Plan. Class 3 consists of Subordinated Unsecured Claim of Vireo Investors (SEC Disgorgement). The allowed Class 3 Disgorgement Award portion of the SEC Judgment shall accrue interest from the Petition Date until satisfied at the rate allowable under Section 1961 of the Bankruptcy Code and shall be satisfied in full through payments by the Debtor directly to the investors who filed claims for damages arising out of their Vireo investments. Payments to these investors shall be made in quarterly installments of $100,000, prorated among the investors based on their allowed claim amounts, starting on April 1, 2027, and continuing on the first day of each calendar quarter thereafter until allowed investor claims are paid in full. The Class 3 allowed Disgorgement Award claim is subordinated behind general unsecured creditors under Section 726(a)(4) of the Bankruptcy Code. Accordingly, the Class 3 claim is impaired under the Plan. The Class 4 equity interests of the Debtor as of the Petition Date shall not be modified, but the Debtor shall not make any economic distributions to equity holders on account of their equity interests in the Debtor unless and until after all allowed higher priority claims are paid or satisfied in full with accrued interest under the terms of the Plan. The Debtor intends to fund its obligations under the Plan from ongoing business operating revenues. As shown on the monthly operating reports filed to date, the Debtor earned net profits of $1,189,008 during the 8-month period from the Petition Date until April 30, 2026. The Debtor expects to continue earning similar net profits in the future to be able to fund its required Plan payments. A full-text copy of the Disclosure Statement dated June 5, 2026 is available at https://urlcurt.com/u?l=CbarIe from Omni Agent Solutions, claims agent. Counsel to the Debtor:. Stephen R. Harris, Esq. Harris Law Practice LLC 850 E. Patriot Blvd., Suite F Reno, NE 89511 Tel: (775) 786-7600 Fax: (775) 786-7764 Cell: (775) 690-9120 Email: steve@harrislawreno.com Sallie B. Armstrong, Esq. Jimmy F. Dahu, Esq. McDONALD CARANO LLP 100 West Liberty Street, Tenth Floor Reno, NV 89501 Telephone: (775) 788-2000 Email: sarmstrong@mcdonaldcarano.com Email: jdahu@mcdonaldcarano.com About Navellier & Associates Inc. Navellier & Associates Inc., based in Reno, Nevada, provides investment advisory services focused on growth investing strategies, offering portfolio management and financial planning to individual and institutional clients. The firm was founded by Louis G. Navellier and manages discretionary assets while employing a quantitative and fundamental approach to stock selection. Navellier & Associates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Nev. Case No. 25-50820) on Sept. 5, 2025. In its petition, the Debtor listed assets between $1 million and $10 million and liabilities between $10 million and $50 million. Honorable Bankruptcy Judge Hilary L. Barnes handles the case. The Debtor is represented by Norma Guariglia, Esq. at HARRIS LAW PRACTICE LLC. NBG MACHINE: Seeks Approval to Hire Milton Flores as Appraiser -------------------------------------------------------------- NBG Machine Builders & Precision Tooling, Inc. seeks approval from the U.S. Bankruptcy Court for the District of Puerto Rico to hire Milton Flores, General Certified Appraiser, to serve as appraiser for special purpose. Mr. Flores will provide these services: (a) inspect the site, its property, machinery and equipment to determine its value; and (b) make the correspondent report with all the details and the determined value. Mr. Flores will receive a single flat payment in the amount of $4,000. No retainer fee has been requested. Mr. Flores is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code, according to court filings. Court records further state that neither Mr. Flores nor any of his employees have any connection with the Debtor, creditors, parties in interest, attorneys, accountants, the U.S. Trustee, or personnel of the U.S. Trustee, and do not hold any interest adverse to the Debtor or the estate. The appraiser can be reached at: Milton Flores Milton Flores y Asociados, C.S. PO Box 1181 Caguas, PR 00726 Telephone: (787) 743-8383 E-mail: miltonflorescsp@yahoo.com About NBG Machine Builder & Precision Tooling NBG Machine Builders & Precision Tooling, Inc., a company based in Sabana Grande, Puerto Rico, delivers precision machining and custom tooling solutions for industrial clients. Its operations include manufacturing precision parts for the pharmaceutical sector and general manufacturing, repairing and maintaining critical production components, and providing technical support for automated systems and industrial equipment. Founded in 2006 and led by President Welderman Matos Alemany, the company employs a few staff. NBG filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. D.P.R. Case No. 26-01087) on March 13, 2026, with $1,060,708 in assets and $862,799 in liabilities. Welderman Matos Alemany, president of NBG, signed the petition. Judge Maria De Los Angeles Gonzalez oversees the case. The Debtor is represented by: Juan C. Bigas, Esq. Juan C. Bigas Law PO Box 7011 Ponce, PR 00732-7011 Telephone: (787) 259-1000 E-mail: cortequiebra@yahoo.com NETCAPITAL INC: Issues $182,120 Note to Vanquish Funding -------------------------------------------------------- Netcapital Inc. announced in a regulatory filing that it entered into a Securities Purchase Agreement, dated June 4, 2026, with Vanquish Funding Group Inc., a Virginia corporation, pursuant to which the Company issued to the Buyer a promissory note in the principal amount of $182,120 for a purchase price of $157,000, reflecting an original issue discount of $25,120. The transaction closed and was funded on June 5, 2026. The transaction provided gross proceeds of $157,000 and net proceeds of $150,000 after the Company's reimbursement of $7,000 of the Buyer's legal and due diligence expenses. The Company intends to use the proceeds for general working capital purposes. The Note has an issue date of June 4, 2026 and matures on March 30, 2027. The Note states a one-time interest charge of 13% and requires five payments totaling $205,795: $71,250 on November 30, 2026 and four payments of $33,636.25 on December 30, 2026, January 30, 2027, February 28, 2027 and March 30, 2027. The Company has a five-day grace period with respect to each payment. The Note may be prepaid in full and provides discounted prepayment amounts during the first 180 days following issuance. Amounts not paid when due bear default interest at 22% per annum. Upon the occurrence and continuation of an event of default, the Note becomes immediately due and payable at 150% of the outstanding principal, accrued and unpaid interest, default interest and certain other amounts. If, following another event of default, the Company also defaults on its obligations relating to the issuance or delivery of conversion shares, the default percentage increases to 200%. The Note includes events of default, including payment defaults, covenant breaches, bankruptcy or insolvency events, delisting, failure to comply with Exchange Act reporting obligations, certain financial-statement restatements, transfer-agent-related defaults and cross-defaults with other existing and future indebtedness of the Company to the Buyer and its affiliates. Following an event of default, the Buyer may convert all or part of the outstanding amount into shares of the Company's common stock at a conversion price equal to 65% of the lowest trading price of the common stock during the 20 trading days preceding the conversion date; provided that, during the first six months following issuance, the conversion price may not be less than $1.00 per share. The Note contains a 4.99% beneficial ownership limitation. Because the conversion price is based on future market prices and the amount subject to conversion may increase upon default, the maximum number of shares that may be issued upon conversion cannot be determined as of the date of this report. The Note generally restricts the Company from selling, leasing or otherwise disposing of a significant portion of its assets outside the ordinary course of business without the Buyer's consent while the Note remains outstanding, except for the transactions contemplated by the Company's previously disclosed letter of intent concerning Resmac, Inc. Full text copies of the Purchase Agreement and the Note are available at https://tinyurl.com/csv99x4h and https://tinyurl.com/3uva2sv4, respectively. About Netcapital Inc. Headquartered in Boston, Mass., Netcapital Inc. -- www.netcapital.com -- is a fintech company with a scalable technology platform that allows private companies to raise capital online and provides private equity investment opportunities to investors. The Company's consulting group, Netcapital Advisors, provides marketing and strategic advice and takes equity positions in select companies. The Company's funding portal, Netcapital Funding Portal, Inc. is registered with the U.S. Securities & Exchange Commission (SEC) and is a member of the Financial Industry Regulatory Authority (FINRA), a registered national securities' association. Spokane, Washington-based Fruci & Associates II, PLLC, the Company's auditor since 2017, issued a "going concern" qualification in its report dated August 12, 2025, attached to the Company's Annual Report on Form 10-K for the fiscal year ended April 30, 2025, citing that the Company has a negative working capital, operating losses, and negative cash flows from operations. These factors, among others, raise substantial doubt about the Company's ability to continue as a going concern. As of January 31, 2026, the Company had $26,059,855 in total assets, $4,457,207 in total liabilities, and $21,602,648 in total stockholders' equity. NETCAPITAL INC: Secures $145,000 Convertible Note from Labrys ------------------------------------------------------------- Netcapital Inc. announced in a regulatory filing that it entered into a Securities Purchase Agreement dated as of June 3, 2026, with Labrys Fund II, L.P., a Delaware limited partnership. On June 4, 2026, the transaction closed upon the Company's receipt of the purchase price, and the Company issued and delivered to Labrys a promissory note dated June 3, 2026 in the principal amount of $145,000 and a common stock purchase warrant dated June 3, 2026 to purchase 125,000 shares of the Company's common stock, par value $0.001 per share, at an initial exercise price of $0.50 per share. Labrys previously entered into a separate securities purchase agreement with the Company dated May 12, 2026, pursuant to which the Company issued Labrys a promissory note in the principal amount of $290,000 and a warrant to purchase 250,000 shares of the Company's common stock. The Note was issued for a purchase price of $125,000 and reflects an original issue discount of $20,000. At the closing, Labrys withheld $4,000 from the purchase price to cover Labrys' legal fees, $1,000 to be paid to Labrys II Management, LLC to cover due diligence costs, and $8,750 to cover fees owed by the Company to Enclave Capital LLC, a registered broker-dealer acting as placement agent. Accordingly, the Company received net cash proceeds of $111,250. The Note includes a one-time interest charge of 12% of the principal amount, or $17,400, earned in full as of June 3, 2026. The Note is an unsecured obligation of the Company and matures on June 3, 2027. The Company is required to make amortization payments beginning December 3, 2026, consisting of an initial payment of $81,200, followed by five payments of $13,533.33 on January 3, 2027, February 3, 2027, March 3, 2027, April 3, 2027 and May 3, 2027, with all remaining outstanding amounts due on June 3, 2027. Each amortization payment first reduces accrued and unpaid interest and then reduces the outstanding principal balance of the Note. The Note may be prepaid at any time before the 181st calendar day following June 3, 2026 upon three trading days' prior written notice to the holder. The required prepayment amount equals the applicable prepayment percentage multiplied by the then-outstanding principal amount plus the applicable prepayment percentage multiplied by accrued and unpaid interest: 96% during the period beginning on June 3, 2026 and ending 90 calendar days thereafter, 97% during the period beginning 91 calendar days after June 3, 2026 and ending 150 calendar days thereafter, and 98% during the period beginning 151 calendar days after June 3, 2026 and ending 180 calendar days thereafter. Amounts not paid when due bear default interest at the lesser of 22% per annum and the maximum amount permitted by law. The Note becomes convertible at the holder's option upon the earliest of: (i) the Company's failure to pay an amortization payment when due (ii) the date that is 180 calendar days after June 3, 2026, or (iii) the date that any conversion shares are registered for resale pursuant to a registration statement or prospectus filed by the Company. The conversion price is 75% of the lowest closing bid price of the Company's common stock during the ten trading days immediately preceding the applicable conversion date, subject to a floor price of $0.10 per share. The floor price does not apply on or after an event of default. The Note contains a 4.99% beneficial ownership limitation, which the holder may increase or decrease upon notice to the Company, provided that the limitation may not exceed 9.99% and an increase is not effective until the 61st day after notice. The Warrant is exercisable beginning December 3, 2026 and expires at 5:00 p.m., New York City time, on June 3, 2029. The exercise price is $0.50 per share, subject to adjustment for stock dividends, stock splits, combinations, reclassifications and similar events. If, at the time of exercise, there is no effective registration statement registering, or the prospectus contained therein is not available for, the resale of the warrant shares by the holder, the Warrant may be exercised on a cashless basis. The Warrant contains a 4.99% beneficial ownership limitation, which may be increased or decreased upon notice to the Company, subject to a maximum of 9.99% and a 61-day delay for any increase. Under the transaction documents, the aggregate number of shares of common stock that may be issued under the Note and the Warrant is limited to 1,569,579 shares unless shareholder approval is obtained, subject to adjustment and the other provisions of the transaction documents. The Purchase Agreement requires the Company to seek shareholder approval in accordance with Nasdaq Rule 5635(d) no later than 180 calendar days after June 3, 2026. The Purchase Agreement provides that the Company will use the proceeds for business development and general working capital, subject to specified restrictions. The Purchase Agreement and the Note contain customary and transaction-specific covenants, including transfer agent instructions, legal counsel opinion provisions, public information covenants, piggy-back registration rights, a requirement to purchase directors' and officers' insurance within 60 calendar days after closing, restrictions on certain capital stock distributions and asset sales, and registration-statement-related default provisions. The Note provides that an event of default occurs if the Company fails to file a registration statement covering the holder's resale of all conversion shares and warrant shares within 60 calendar days after June 3, 2026, fails to cause the registration statement to become effective within 120 calendar days after June 3, 2026, fails to keep the registration statement effective, or fails to amend or file a new registration statement if there are no longer sufficient shares registered for resale. The Note contains events of default including, without limitation, payment defaults, breach of covenants, breach of representations and warranties, failure to deliver conversion shares, bankruptcy or insolvency events, cessation of operations, failure to maintain material assets, transfer-agent-related defaults, transmission of material non-public information not cured by a same-day Form 8-K, unavailability of Rule 144, delisting, trading suspension or failure to be listed or quoted on a principal market, failure to pay an amortization payment, failure to obtain required shareholder approval within 180 calendar days after June 3, 2026, and registration statement failures. Upon an event of default, the Note becomes immediately due and payable in an amount equal to the then-outstanding principal amount plus accrued interest, including default interest, multiplied by 150%, plus costs of collection. The holder may, in its sole discretion, convert all or any portion of the Note, including the default amount, into common stock pursuant to the terms of the Note. A full text copy of the Purchase Agreement, the Note, and the Warrant are available at https://tinyurl.com/2ec5muke, https://tinyurl.com/5y4u4ft7, and https://tinyurl.com/46h5znam, respectively. About Netcapital Inc. Headquartered in Boston, Mass., Netcapital Inc. -- www.netcapital.com -- is a fintech company with a scalable technology platform that allows private companies to raise capital online and provides private equity investment opportunities to investors. The Company's consulting group, Netcapital Advisors, provides marketing and strategic advice and takes equity positions in select companies. The Company's funding portal, Netcapital Funding Portal, Inc. is registered with the U.S. Securities & Exchange Commission (SEC) and is a member of the Financial Industry Regulatory Authority (FINRA), a registered national securities' association. Spokane, Washington-based Fruci & Associates II, PLLC, the Company's auditor since 2017, issued a "going concern" qualification in its report dated August 12, 2025, attached to the Company's Annual Report on Form 10-K for the fiscal year ended April 30, 2025, citing that the Company has a negative working capital, operating losses, and negative cash flows from operations. These factors, among others, raise substantial doubt about the Company's ability to continue as a going concern. As of January 31, 2026, the Company had $26,059,855 in total assets, $4,457,207 in total liabilities, and $21,602,648 in total stockholders' equity. NORTHSTAR HOLDINGS: Files Amendment to Disclosure Statement ----------------------------------------------------------- Northstar Holdings, LLC, submitted a First Amended Disclosure Statement describing its Plan of Reorganization dated June 5, 2026. The Debtor is a company that owns property located at 6239 Red Cedar Circle, Greenacres, FL 33463 (the "Property"). The principal, Ron Bornstein (the "principal"), inherited the Property. Improvements continue to be made on the Property. It is expected that the improvements will be completed by Sept. 30, 2026. The improvements are being paid by the principal. It is expected that all improvements will be completed prior to the start of the season in which those living in the north visit or stay in Florida, or the beginning of October. The Debtor anticipates being able to start renting the Property in October, 2026. To fund this the plan of reorganization, the Principal will make all payments proposed until such time as the Property is rented and generates income. The principal of Northstar is an attorney of 37 years who has the means to make the payments proposed. The principal's monthly income is approximately $7,500.00 per month and he has expenses of approximately $4,000.00 per month. There is sufficient disposable income to make the payment under the plan. It is expected that the Property will be able to be rented for $2,900.00 per month and Northstar will be able to cure the arrears to the Association and keep the mortgage current. The mortgage payment includes escrows for taxes and insurance. The basis of this estimate is made by comparing other rental property in the development and making adjustments based on the size of other properties. The Debtor's ability to fully fund the plan and make payments is dependent on both the Principal being able to make the initial payments and then the Property generating sufficient rent the sale of its ability to rent the Property and pay its obligations. It is expected that Debtor will generate $2,900.00 per month. The plan will be funded by the income of the Debtor. A full-text copy of the First Amended Disclosure Statement dated June 5, 2026 is available at https://urlcurt.com/u?l=7Devwc from PacerMonitor.com at no charge. Counsel to the Debtor: Brian K. McMahon, Esq. Brian K. McMahon, P.A. 1401 Forum Way, Suite 730 West Palm Beach, FL 33401 Telephone: (561) 478-2500 Facsimile: (561) 478-3111 E-mail: brian@bkmbankruptcy.com About Northstar Holdings Northstar Holdings, LLC, is a company that owns property located at 6239 Red Cedar Circle, Greenacres, FL 33463. The Debtor sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Fla. Case No. 26-12102) on Feb. 20, 2026. At the time of the filing, the Debtor had estimated assets of between $100,001 and $500,000 and liabilities of between $100,001 and $500,000. Judge Madeleine C. Wanslee oversees the case. Brian K. McMahon, P.A., is the Debtor's legal counsel. NRPF GROUP: Court Says Master Lease with SCF Severable ------------------------------------------------------ Judge Sage M. Sigler of the U.S. Bankruptcy Court for the Northern District of Georgia granted the motion of NRPF Group Two, LLC and its affiliated debtors to reject the master lease it entered into with SCF RC Funding I, LLC with respect to three properties. Debtors operated dozens of franchise restaurants in several states under leases with dozens of landlords. Now, Debtors intend to sell their assets to a buyer that will continue operating the restaurants. Debtors identified a stalking horse bidder for the sale, and as part of its purchase, the bidder sought to acquire most of Debtors' unexpired leases, which Debtors will assume and assign to the bidder. Debtors have already rejected most of the unexpired leases not included in the sale. One remaining unexpired lease operates as a master lease governing seven properties in Georgia and Florida. Debtors want to include only four of the properties in the sale and reject the master lease with respect to the other three. SCF, Debtors' landlord, objects to severing the master lease, asserting that Debtors must assume or reject the master lease as a whole. The parties agree that a debtor cannot assume the benefits and reject the detriments of the same contract; that state law determines whether a contract is severable; and that Georgia law applies to the Georgia properties included in the master lease and Florida law applies to the Florida properties. The parties also agree that the master lease, in its original form, was not severable. But the parties disagree about the effect of two amendments to the master lease. SCF's and Debtors' predecessors in interest entered into the master lease in December 2010. Although the master lease covered eight properties, the parties made it clear in the provisions of the original master lease that they intended it to be a single, unseverable contract between the parties. The parties amended the master lease three times. SCF contends that the amendments did not alter the clear intent of the parties that their master lease not be severable, while Debtors argue that the amendments transformed the master lease into a severable agreement. The Court finds that the master lease is severable. The amendments to the master lease in fact sever one property and add provisions allowing the further severance of others. The Court overrules SCF's objection and allows Debtors to reject the master lease in part and assume the remaining leases subject to cure and adequate assurance of future performance as required by 11 U.S.C. Sec. 365. A copy of the Court's Memorandum Opinion dated June 12, 2026, is available at https://urlcurt.com/u?l=Z7aKM9 from PacerMonitor.com. About NRPF Group Two, LLC NRPF Group Two, LLC is a business entity that operates as part of a broader investment or real estate holding structure, managing assets and financial interests. The company focuses on overseeing investments and maintaining portfolio holdings. NRPF Group Two, LLC and its affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ga. Case No. 26-53945) on March 24, 2026. The case is jointly administered in Case No. 26-53945. In its petition, NRPF Group Two disclosed estimated assets up to $100,000 and estimated liabilities between $10 million and $50 million. Honorable Bankruptcy Judge Sage M. Sigler handles the case. The Debtors are represented by Ashley Reynolds Ray, Esq., at Scroggins, Williamson & Ray, PC. On April 14, 2026, the Office of the United States Trustee appointed an official committee of unsecured creditors in this Chapter 11 case. The committee tapped Baker, Donelson, Bearman, Caldwell & Berkowitz, PC as counsel. NXT ENERGY: Shareholders Approve Key Resolutions at Annual Meeting ------------------------------------------------------------------ NXT Energy Solutions Inc. has announced the voting results from its Annual Meeting of Shareholders. Shareholders approved the following: * Election of Directors: Seven directors of the Company were elected to hold office until the next annual meeting of shareholders or until their successors are duly elected or appointed. * Appointment of Auditors: MNP LLP were appointed as the auditors of the Company for the next year at a remuneration to be determined by the Board of Directors. * Employee Share Purchase Plan Resolution. The resolution to approve the Company's Employee Share Purchase Plan was passed. * Unallocated Entitlements Resolution. The resolution to approve the Unallocated Entitlements Resolution and the unallocated entitlements issuable thereunder was passed. * Preferred Share Resolution. The special resolution to cancel Series 2 Preferred Shares was passed. Further details are set out in the Company's Information Circular dated April 24, 2026, posted on the Company's website and filed on www.sedarplus.ca. Election of Directors: 1. Peter Mork * Votes For: 73,845,684 (99.41%) * Votes Withheld/Against: 435,058 (0.59%) 2. Charles Selby * Votes For: 74,205,144 (99.90%) * Votes Withheld/Against: 75,598 (0.10%) 3. Gerry Sheehan * Votes For: 73,776,904 (99.32%) * Votes Withheld/Against: 503,838 (0.68%) 4. Jeffrey Tilson * Votes For: 74,208,144 (99.90%) * Votes Withheld/Against: 72,598 (0.10%) 5. Thomas E. Valentine * Votes For: 73,806,064 (99.36%) * Votes Withheld/Against: 474,678 (0.64%) 6. Bruce G. Wilcox * Votes For: 73,776,904 (99.32%) * Votes Withheld/Against: 503,838 (0.68%) 7. Eugene Woychyshyn * Votes For: 73,776,620 (99.32%) * Votes Withheld/Against: 504,122 (0.68%) Other Matters: * Appointment of Auditors * Votes For: 78,258,850 (99.83%) * Votes Against/Withheld: 129,733 (0.17%) * Employee Share Purchase Plan Resolution * Votes For: 73,810,353 (99.37%) * Votes Against/Withheld: 470,389 (0.63%) * Unallocated Entitlements Resolution * Votes For: 73,806,353 (99.36%) * Votes Against/Withheld: 474,389 (0.64%) * Preferred Share Resolution * Votes For: 74,208,433 (99.90%) * Votes Against/Withheld: 72,309 (0.10%) About NXT Energy NXT Energy Solutions Inc. is a Calgary-based technology company whose proprietary SFD survey system utilizes quantum-scale sensors to detect gravity field perturbations in an airborne survey method. This system can be used both onshore and offshore to remotely identify areas with exploration potential for traps and reservoirs. The SFD survey system enables the Company's clients to focus their hydrocarbon exploration decisions concerning land commitments, data acquisition expenditures, and prospect prioritization on areas with the greatest potential. SFD is environmentally friendly and unaffected by ground security issues or difficult terrain and is the registered trademark of NXT Energy Solutions Inc. NXT Energy Solutions provides its clients with an effective and reliable method to reduce time, costs, and risks related to exploration. Calgary, Canada-based MNP LLP, the Company's auditor since 2023, issued a "going concern" qualification in its report dated March 31, 2026, citing that the Company's current cash position is not expected to be sufficient to meet the Company's obligations and planned operations for a year beyond the date of auditor's report, unless additional financing is obtained or new revenue contracts are completed. This raises substantial doubt about the Company's ability to continue as a going concern. As of December 31, 2025, the Company had C$19.3 million in total assets, C$4.4 million in total liabilities, and C$14.9 million in total stockholders' equity. PALMDALE HEALTH: Seeks Court Approval to Hire RHM Law as Counsel ---------------------------------------------------------------- Palmdale Health & Wellness Center LLC seeks approval from the U.S. Bankruptcy Court for the Central District of California to hire RHM Law LLP to serve as general bankruptcy counsel. The firm will provide these services: (a) give the Debtor and Debtor-in-Possession legal advice with respect to its powers and duties in these proceedings; (b) prepare on behalf of the Debtor and Debtor-in-Possession the necessary applications, pleadings, reports, and other legal papers; (c) advise and assist regarding compliance with the United States Trustee requirements, cash collateral matters, creditor claims, and bankruptcy law issues; (d) assist with negotiation, formulation, confirmation, and implementation of a Chapter 11 Plan of Reorganization; and (e) represent the Debtor in Bankruptcy Court and perform all other legal services as may be necessary in the case. RHM Law LLP will be compensated at hourly billing rates depending on the attorney, with partner rates up to $725 per hour and paralegal rates of $175 per hour. The Firm received a retainer of $61,738, of which $61,178 was paid prepetition, and $4,518 was applied for prepetition services. Interim fee applications will be filed periodically and all compensation remains subject to Court approval. RHM Law LLP is a “disinterested person” within the meaning of Section 101(14) of the Bankruptcy Code, according to court filings, and has no adverse interests to the Debtor or its estate. The firm can be reached at: Roksana D. Moradi-Brovia, Esq. Matthew D. Resnik, Esq. RHM LAW LLP 17609 Ventura Blvd., Suite 314 Encino, CA 91316 Telephone: (818) 285-0100 Facsimile: (818) 855-7013 E-mail: roksana@RHMFirm.com matt@RHMFirm.com About Palmdale Health & Wellness Center LLC Palmdale Health & Wellness Center LLC is a Palmdale, California-based medical and wellness center offering services in urology, regenerative medicine, and aesthetic healthcare treatments. Palmdale Health & Wellness Center LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-14704) on May 12, 2026. In its petition, the Debtor reported estimated assets between $10 million and $50 million and estimated liabilities between $10 million and $50 million. The filing indicates that funds will be available for distribution to unsecured creditors. Honorable Judge Sheri Bluebond handles the case. The Debtor is represented by Matthew D. Resnik, Esq. of RHM Law LLP. PEGGY NESTOR: Court Dismisses Two Adversary Proceedings ------------------------------------------------------- The Hon. Michael E. Wiles of the U.S. Bankruptcy Court for the Southern District of New York dismissed with prejudice the following adversary proceedings: 1. MARIANNE NESTOR, Plaintiff, v. ALBERT TOGUT, NEIL BERGER, MARTHA MARTIR, JONATHAN COHEN, and ROLAND NY, Defendants, Adv. Pro. No. 26-01030 (MEW); and 2. MARIANNE NESTOR, Plaintiff, v. ALBERT TOGUT, and NEIL BERGER, Defendants, Adv. Pro. No. 26-01031 (MEW). Peggy Nestor (the "Debtor") commenced this case by filing a voluntary chapter 11 petition on April 25, 2023. She represented in her papers that property located at 15 East 63d street in Manhattan (the "Townhouse") was her primary asset. A recorded deed stated that Marianne Nestor Cassini (the Debtor's sister) was a co-owner of the Townhouse, but the Debtor represented that her sister had transferred her interest to the Debtor in 2016 and that the Debtor was the sole owner. The Debtor also represented under oath that her sister "never resided in the Townhouse” and had not paid the mortgage or related expenses. Ms. Nestor Cassini is the former wife of Oleg Cassini. She has been involved in an often heated and long-running estate battle with other heirs of Mr. Cassini that continue to be the subject of proceedings in the Surrogate's Court in Nassau County. In 2014, the Surrogate's Court removed Marianne Nestor Cassini as executor of Mr. Cassini's estate and appointed the Nassau County Public Administrator as her successor. The Public Administrator and a court-appointed Receiver contend that they have enforceable security interests in the Townhouse by virtue of (a) a judgment against Ms. Nestor Cassini that was entered in 2015 and renewed in 2025, and (b) a separate attachment order issued by the Surrogate's Court in 2020 (affirmed in 2021) that secures a potential judgment in another lawsuit and that covers up to $2,594,813.42 in value of the Debtor's interests and up to $57 million of any interests that Ms. Nestor Cassini holds in the Townhouse. Two Removed Actions On February 17, 2026, Ms. Nestor Cassini filed an action in the Supreme Court of the State of New York New York State courts, naming Albert Togut and Neil Berger (a partner in the Trustee's law firm) as defendants. Her complaint alleged that she had been illegally evicted from the Townhouse and that the defendants were guilty of trespass. She asked that the state court award her millions of dollars in compensatory and punitive damages. She also asked for an injunction barring the defendants from exercising control over the Townhouse and requiring them to surrender the property to her. Her complaint made no mention of this Court's prior orders or the fact that the Trustee's possession and sale of the Townhouse, and her eviction from it, had been explicitly authorized by this Court. The action has been removed to this Court and is now pending as adversary proceeding no. 26-01031. On March 26, 2026, Ms. Nestor Cassini filed another action in the Supreme Court of the State of New York. The named defendants are the Trustee, three attorneys with the Trustee's law firm (Neil Berger, Martha Martir and Jonathan Cohen), and Roland Antiques. Her complaint alleges that Roland Antiques wrongfully removed her personal property from the Townhouse and that her personal property should be returned to her. Once again, the complaint made no reference to the many orders that this Court had issued, 1n particular to the Order stating that personal property that was not removed by the applicable deadlines would be deemed to have been abandoned by the Debtor and Ms. Nestor Cassini. Ms. Nestor Cassini did not object to the entry of that order and never filed an appeal from it. This action was removed and then referred to this Court and 1s now pending as adversary proceeding 26-01030. Albert Togut, Esq. served as the trustee in the chapter 11 case of Peggy Nestor beginning in March 2024. He became the Plan Administrator in April 2026 when a plan of reorganization was confirmed. Mr. Togut, and various attorneys who worked for him, have been sued by Ms. Nestor Cassini in two separate adversary proceedings that were filed in the New York State courts in February and March 2026. The two cases were removed to the United States District Court for the Southern District of New York and they have since been referred to this Court, where they are pending as adversary proceedings 26-01030 and 26-01031. The Plan Administrator has filed a motion seeking permission to intervene in the two removed actions and also seeking, among other things, the dismissal of the removed actions, with prejudice. The Plan Administrator asserts three separate grounds for dismissal: (1) The removed actions represent an impermissible collateral attack, in state court, on this Court's prior rulings and orders; (2) The removed actions assert claims against a court-supervised fiduciary and his professionals for doing things that this Court authorized them to do, without this Court's prior approval and therefore 1n violation of the Barton doctrine, Barton v. Barbour, 104 U.S. 126 (1881); and (3) The two state court actions were filed in violation of an injunction issued in October 2024, at which time Judge Wiles dismissed an earlier effort by Ms. Nestor Cassini to sue the Trustee in state court and explicitly enjoined her from pursuing that same tactic in the future. Judge Wiles holds, "I agree that the Plan Administrator has the right to intervene and that the two removed actions should be dismissed, with prejudice. The two removed actions constitute impermissible collateral attacks on the merits of my prior rulings and Orders and violate the Barton doctrine. The filing of the two actions also violated the explicit terms of the prior injunction that I issued in 2024. Ms. Nestor Cassini will be ordered, as a result, to reimburse the Plan Administrator for the legal fees and costs that were incurred in obtaining the removal and dismissal of the actions." A copy of the Court's decision dated June 15, 2026, is available at https://urlcurt.com/u?l=orOTmG from PacerMonitor.com. Peggy Nestor filed for Chapter 11 bankruptcy protection (Bankr. S.D.N.Y. Case No. 23-10627) on April 25, 2023, listing under $1 million in both assets and liabilities. The Debtor is represented by Anne Penachio, Esq. PETER F. DIPAOLO: Seeks to Hire Jeff R Pearlman CPA as Accountant ----------------------------------------------------------------- Peter F. DiPaolo, MD, PA seeks approval from the U.S. Bankruptcy Court for the District of New Jersey to hire Jeff R Pearlman CPA P.C. as accountant. The firm's services include: a. preparing the Debtor's 2025 federal and New Jersey state tax returns; and b. preforming such other related services. The firm will charge a flat rate of $3,000 for preparation of 2025 State and Federal tax returns. AS disclosed in the court filings, Jeff R Pearlman CPA P.C. is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code and does not represent any interest adverse to the Debtor and its estate. The accountant can be reached through: Jeff R Pearlman, CPA Jeff R Pearlman CPA P.C. 50 Pecan Valley Drive New City, NY 10956 Phone: (845) 638-1188 About Peter F. DiPaolo Peter F. DiPaolo, MD, PA is a private orthopedic practice located in Woodland Park, New Jersey. Led by board-certified orthopedic surgeon Peter F. DiPaolo, M.D., the practice provides orthopedic services including minimally invasive surgery, traumatic injury treatment, pain management solutions, joint replacement, spine surgery, arthroscopic knee and shoulder surgery, and fracture treatment. The practice serves patients with accident-related injuries and orthopedic conditions such as arthritis, hip pain, neck pain, knee pain, sciatica, shoulder pain, and lower back pain. Peter F. DiPaolo, MD, PA sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. N.J. Lead Case No. 26-14807) on August 11, 2025. In its petition, the Debtor reported estimated total assets of $10,034 and estimated liabilities of $4,547,728. The petition was signed by Peter F. DiPaolo as sole shareholder. The Debtor is represented by Trenk Isabel Siddiqi & Shahdanian P.C. PLATINUM EXPRESS: Taps S&S Tax and Accounting as Accountant ----------------------------------------------------------- Platinum Express, Inc. seeks approval from the U.S. Bankruptcy Court for the Southern District of Ohio to hire S&S Tax and Accounting Services, LLC to serve as its accountant. The firm will provide these services: (a) assist the Debtor with preparation of tax returns; (b) assist the Debtor with preparation of financial statements; and (c) assist the Debtor with preparation of monthly operating reports and other financial reporting required by the Bankruptcy Court. S&S Tax and Accounting Services, LLC will be compensated at the rate of $110 per hour for Annette Sweigart, with staff services billed at $50 per hour. The professional discloses prepetition services totaling $2,410 and states that any services rendered to the Debtor’s President for personal tax matters will not be billed to the estate. S&S Tax and Accounting Services, LLC is a "disinterested person" within the meaning of Section 327(a) of the Bankruptcy Code and does not hold an interest adverse to the Debtor’s estate, according to court filings. The firm can be reached at: Annette Sweigart S&S Tax and Accounting Services, LLC 2326 Grange Hall Road Beavercreek, OH 45431 Telephone: (937) 426-4530 About Platinum Express Inc. Platinum Express, Inc. is a Dayton, Ohio-based truckload carrier founded in 1999. The company provides freight transportation services, including reefer freight delivery and transportation of groceries, plumbing supplies, and home construction and improvement materials. Platinum Express, Inc. is family owned and operated and operates a fleet of more than 80 trucks with owner/operator and company-employed drivers. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Ohio Case No. 26-31005) on May 7, 2026. In the petition signed by Myna Burba, president, the Debtor disclosed up to $10 million in both assets and liabilities. Judge Tyson A. Crist oversees the case. Darlene E. Fierle, Esq., at Thomsen Law Group, LLC, represents the Debtor as bankruptcy counsel. PLAZA CONTINENTAL: Taps Grobstein Teeple as Support Representative ------------------------------------------------------------------ Plaza Continental Group LLC seeks approval from the U.S. Bankruptcy Court for the Central District of California to appoint Howard Grobstein as Debtor-in-Possession authorized representative and to retain Grobstein Teeple LLP to provide support services in its Chapter 11 case. The firm will provide these services: (a) provide support services to the Debtor's manager, including preparation of budgets and ensuring compliance with bankruptcy obligations; (b) obtain and review books and records from prior management and property managers; (c) prepare cash flow projections and assist with financial analysis and operational monitoring; (d) assist with banking activity oversight and insurance-related processes; (e) perform forensic accounting to analyze historical rental income, expenses, and tenant payments; (f) assist in identifying potential rent diversion and prepetition financial activity; (g) prepare tax returns for the duration of the Chapter 11 case; (h) analyze the value of the Debtor's property and evaluate potential sale or refinance options; and (i) perform all other services necessary during the pendency of the case. Mr. Grobstein will receive an hourly rate of $780, and Dimple Mehra shall receive an hourly rate of $485, with additional professional staff billing at rates ranging from $160 to $550 per hour. Grobstein Teeple LLP is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code, according to court filings. The firm can be reached at: Howard Grobstein GROBSTEIN TEEPLE LLP 6300 Canoga Ave., Suite 1500W Woodland Hills, CA 91367 Telephone: (818) 532-1020 About Plaza Continental Group LLC Plaza Continental Group LLC is a California-based company engaged in real estate investment and management, likely overseeing commercial or mixed-use properties. Plaza Continental Group LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-10986) on March 30, 2026. In its petition, the Debtor reports estimated assets of $10 million to $50 million and estimated liabilities of $10 Million to $50 million. Honorable Bankruptcy Judge Mark D. Houle handles the case. The Debtor is represented by William J. Wall, Esq. of Wall & Son. PLEASANT HEIGHTS: Hires Scott J. Goldstein as Bankruptcy Counsel ---------------------------------------------------------------- Pleasant Heights, Inc. seeks approval from the U.S. Bankruptcy Court for the District of New Jersey to hire the Law Offices of Scott J. Goldstein, LLC to handle the bankruptcy proceedings. The law firm will be paid at these hourly rates: Scott J. Goldstein $450 Jenee K. Cicciarelli $450 Law Clerk $225 Paralegal $195 The law firm will also be reimbursed for reasonable out-of-pocket expenses incurred. AS disclosed in the court filings, Law Offices of Scott J. Goldstein, LLC is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code and does not represent any interest adverse to the Debtor and its estate. The law firm can be reached at: Scott J. Goldstein, Esq. Amy L. Knapp, Esq. LAW OFFICES OF SCOTT J. GOLDSTEIN, LLC 280 West Main Street Denville, NJ 07834 Tel: (973) 453-2838 Fax: (973) 453-2869 E-mail: sjg@sgoldsteinlaw.com About Pleasant Heights Inc. Pleasant Heights, Inc. operates as a real estate lessor in the state of New Jersey, focusing on acquiring, managing, and leasing property assets. The company's activities include tenant relations, property upkeep, and lease administration to support sustainable rental revenue across its holdings. Pleasant Heights, Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.N.J. Case No. 26-10109) on January 06, 2026, with $0 to $50,000 in assets and $500,001 to $1 million in 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. PREMIUM EDGE: Gets Interim OK to Use Cash Collateral ---------------------------------------------------- The U.S. Bankruptcy Court for the Middle District of Florida entered an interim order authorizing Premium Edge, LLC to use cash collateral. The Debtor may use cash collateral through June 23 or until a further court order, strictly in accordance with an approved weekly budget, subject to a maximum 10% variance for individual line items and overall disbursements. As adequate protection, the Bond Trustee was granted extensive protections, including first-priority replacement liens on substantially all post-petition assets and proceeds of the Debtor, excluding certain bankruptcy avoidance claims. The Bond Trustee also received a superpriority administrative expense claim to the extent its collateral diminishes in value during the bankruptcy case. These protections are intended to compensate the Bond Trustee for any reduction in the value of its collateral resulting from the Debtor's use of cash collateral and the effect of the automatic stay. Events that could terminate the Debtor's authority to use cash collateral include unauthorized use of funds, failure to comply with the budget, dismissal or conversion of the Chapter 11 case, challenges to the Bond Trustee's liens, unauthorized asset sales, or the incurrence of priming debt. Upon a termination event, the Bond Trustee may issue a termination notice that can result in the loss of the Debtor's cash collateral authority after a brief cure period. A further interim hearing on the cash collateral motion is scheduled for June 23. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/unpai from PacerMonitor.com. About Premium Edge LLC Premium Edge, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Flo. Case No. 26-04017) with $50,000,001 to $100 million in assets and $10,000,001 to $50 million in laibilities. The petition was signed by Adriana Dall'Armellina as manager. Judge Hon. Tiffany P Geyer oversees the case. The Debtor is represented by: Michael L Schuster Polsinelli PC Tel: 720-931-1188 Email: mschuster@polsinelli.com PRINCE GLOBAL: Court Grants Chapter 15 Recognition -------------------------------------------------- Chief Judge Martin Glenn of the U.S. Bankruptcy Court for the Southern District of New York granted the motion filed by Prince Global Holdings Limited's joint provisional liquidators for recognition of the British Virgin Islands proceeding as the foreign main proceeding. Cosimo Borrelli's objection is overruled. Prince Group Holdings Limited and its affiliated debtors (collectively, the "Debtors") are entities incorporated in the British Virgin Islands ("BVI") as a business company pursuant to the BVI Business Companies Act, 2004, which is a form of limited liability company comparable to a corporation under U.S. law. Pending before the Court are the Chapter 15 Petition for Recognition of Foreign Proceeding and the Motion to Approve Verified Petition under Chapter 15 for Recognition of Foreign Main Proceedings and Related Relief (the "Verified Petition" or "VP," filed in the chapter 15 cases (the "Chapter 15 Cases") by Paul Pretlove, David Standish, and James Drury as the putative foreign representatives (the "Joint Provisional Liquidators" or "JPLs") of the ongoing provisional proceedings (the "BVI Proceedings") pending in the High Court of Justice, Commercial Division, of the British Virgin Islands (the "BVI Court") pursuant to section 170 of the BVI Insolvency Act, 2003 ("BVI Insolvency Act") with respect to each of Prince Global Holdings Limited and 29 of its affiliates (together, the "Debtors" and each a "Debtor"). The Prince Group is a complicated series of entities that sit atop an empire of fraud and forced labor. This empire came crashing down following the arrest of its leader, Mr. Chen Zhi, by Chinese and Cambodian authorities. On its face, the Prince Group operates in sectors such as real estate, financial services, and consumer services. However, beneath this facade, the Prince Group is alleged to have operated forced labor compounds throughout Cambodia and engaged in various fraudulent schemes worldwide. The British Virgin Islands Attorney General, Dawn Smith, initiated liquidation proceedings against certain BVI-based entities affiliated with the Prince Group with the express goal of compensating the victims of the Prince Group's crimes. The joint provisional liquidators, who were appointed by the BVI Court, seek recognition of the BVI Proceedings in the United States. Objecting to recognition is Mr. Borrelli who purports to have been appointed before the BVI Proceeding to be the sole director of many, if not all, of the debtor entities. The JPLs contend that each BVI Proceeding satisfies the requirements of section 101(23) of the Bankruptcy Code. The JPLs submit that the BVI Proceedings are: (i) judicial proceedings pending in the BVI, commenced under the BVI Insolvency Act, (ii) collective in nature, as they were commenced in the public interest and are not directed toward the enforcement of the rights of a single creditor or stakeholder, (iii) subject to the control and supervision of a foreign court, and (iv) for the purpose of liquidating the Debtors' assets. The JPLs claim that each Debtor's center of main interests ("COMI") is located in the BVI. They claim that they qualify as a "foreign representative" under section 101(24) of the Code. They also claim that the Verified Petitions satisfy section 1515 of the Code, as they are accompanied by evidence of the foreign proceeding, evidence of the appointment of the foreign representative, and a statement identifying all known foreign proceedings with respect to each Debtor. Turning to public policy, the JPLs argue that recognition of the BVI Proceedings would not be contrary to the U.S. public policy interests and would, in fact, advance U.S. policy interest. The JPLs claim that the BVI Proceedings were initiated to advance the public interest and divest a designated transnational criminal organization of control over the Debtors and preserve the Debtors' assets for those harmed by the conduct of the Prince Group. The Debtors submit that they are entitled to the automatic protections of section 1520(a) of the Bankruptcy Code, including the imposition of the automatic stay with respect to property located within the United States. The Bankruptcy Court finds Mr. Borelli lacks standing under BVI law to object to the Chapter 15 Cases and has failed to identify any legal right of his own that would entitle him to standing before this Court. The Director has submitted that the basis for his standing is that his authority is subject to the BVI Orders and the Chapter 15 Cases will impair his ability to function in his capacity as a director of the Borrelli Debtors. However, the BVI Orders displaced any authority the Director had to object to this proceeding. Additionally, the BVI Court has explicitly found that directors do not have the authority to object before this Court. The Director, therefore, does not appear to have the authority to appear on behalf of the Debtors, and his claim that his right to operate the Debtors is infringed upon by the Chapter 15 Cases is inapposite. The Director contends that the BVI Proceedings are not: (i) for the purpose of reorganization or liquidation, (ii) conducted under a law relating to insolvency or adjustment of debt, and are not (iii) collective in nature. According to the Bankruptcy Court, the BVI Proceedings are "for the purpose of liquidation" as they were commenced under the BVI Insolvency Act, and the BVI Attorney General preserves the Debtors assets and coordinate administration and recovery for creditors. The Court finds the BVI Proceedings are "collective in nature." The JPLs submit that the BVI Proceedings: (i) centralize control of the Debtors' affairs under court supervision, (ii) preserve the Debtors' assets, (iii) facilitate investigation of the Debtors' activities and transactions and (iv) enable coordinated administration and recovery. Additionally, the BVI Proceedings were not commenced by a single creditor pursuing its own recovery, but rather by the BVI Attorney General with the goal of benefiting all who may have claims against the estate. Accordingly, the BVI Proceedings are collective in nature, and the Bankruptcy Court finds that the BVI Proceedings qualify as "foreign proceedings." The JPLs have demonstrated by a preponderance of the evidence that the Debtors' COMI is the BVI, and that the Court recognizes the BVI Proceedings as "foreign main proceedings" pursuant to section 1502(4) and 1517(b)(1) of the Code. The JPLs have demonstrated that each of the Debtors has a registered office located in the BVI and each is entitled to the presumption under section 1516(c) that the location of their registered office is also its center of main interest. The Director contends that the BVI Proceedings violate the public policy of the United States. According to the Bankruptcy Court, the Director's argument fails to demonstrate that the BVI Proceedings are fundamentally contrary to U.S. public policy. The BVI Proceedings also appear to advance U.S. public policy interests insofar as they assist U.S. regulatory agencies in their investigation and winding up of an alleged transnational criminal organization. Therefore, the Court concludes recognition of the BVI Proceedings would not be manifestly contrary to U.S. public policy. This Court finds that the relief requested by the JPLs is appropriate, and that there is cause to lift the stay so that the JPLs may immediately engage in the implementation of the restructuring steps. A copy of the Court's Memorandum Opinion dated June 11, 2026, is available at https://urlcurt.com/u?l=n49HXN from PacerMonitor.com. About Prince Global Holdings Limited Prince Global Holdings Limited is an international financial services firm engaged in investment and asset management activities. Prince Global Holdings Limited sought relief under Chapter 15 of the U.S. Bankruptcy Code (Bankr. Case No. 26-10769) on April 8, 2026. In its petition, the Debtor did not specify estimated assets or liabilities. Honorable Bankruptcy Judge Martin Glenn handles the case. The Debtor is represented by Andrew G. Dietderich, Esq., of Sullivan & Cromwell LLP. PRO RACKING: Seeks Continued Cash Collateral Access --------------------------------------------------- Pro Racking Systems Corp asks the U.S. Bankruptcy Court for the Central District of California, Riverside Division, for authority to use cash collateral and provide adequate protection, on the same terms as the previous cash collateral order. The Debtor demonstrates that its operations are highly viable, generating projected post-petition collections of approximately $30,450 per week as detailed in its 13-week cash flow forecast. Immediate and uninterrupted access to these operating funds is deemed vital to pay payroll, maintain everyday operations, and preserve the ultimate going-concern value of the bankruptcy estate. The Debtor outlines a significant financial turnaround and stabilization of its asset base during its initial period under bankruptcy protection. On the initial petition date, Pro Racking held $133,000 in accounts receivable, $90,900 in cash, and real property valued at roughly $400,000. By June 3, through court-authorized cash collateral utilization, its cash on hand successfully grew to approximately $130,000, and its accounts receivable asset base expanded to approximately $224,000, while its equipment and real property values held steady at $13,000 and $400,000, respectively. Additionally, the Debtor asserts a beneficial and equitable interest in several commercial vehicles. Although these undersecured vehicles are titled in the principal's name due to historical credit limitations, they are used exclusively for business operations, and their insurance, loan payments, and maintenance are fully paid by the corporation. The Debtor's books reflect a stratified list of prepetition secured claims, which are broken down across varying tiers of priority and legitimacy: OnDeck Capital: Asserts a first-priority, fully perfected UCC blanket lien on personal property securing a claim of $231,000. PEAC/Marlin Leasing Corporation: Holds a second-priority, perfected UCC blanket lien securing a claim of $245,000, which is characterized as partially secured. QuickBridge Funding: Asserts a claim of $150,451 under a late-filed UCC agreement, which the Debtor currently flags as disputed and potentially avoidable. Disputed Cash Advance Claimants: Itria Ventures LLC ($82,000), NewCo Capital Group LLC ($172,336), and Green Note Capital Partners LLC ($70,000) all assert secured claims that the Debtor strongly disputes. To satisfy bankruptcy code demands, Pro Racking argues that the senior secured lenders are robustly protected because the primary collateral base—accounts receivable and cash—is actively replenishing in the ordinary course of business. To guarantee adequate protection under sections 361 and 363(e), the Debtor proposes granting post-petition replacement liens to all secured creditors in property of the estate and its proceeds, matching the exact validity, extent, and priority that existed on the petition date. The replacement liens given to disputed or unperfected creditors attach only to the extent their prepetition claims are ultimately proven valid, and the grant carries no waiver of Pro Racking's explicit right to legally challenge or avoid those liens under section 544. As an added layer of adequate protection for the senior secured positions, Pro Racking's budget schedules periodic cash payments of $1,500 per week to OnDeck Capital and $1,000 per week to PEAC/Marlin Leasing Corporation. Under the proposed budget controls, the Debtor is restricted to expenses directly linked to operational preservation, though it is permitted to carry over any unused expense balances to subsequent operational cycles. Conversely, any spending that exceeds the established budget caps or standard allowable variances will require direct written consent from the senior lenders or an explicit order from the bankruptcy court. A court hearing is set for June 25. A copy of the motion is available at https://urlcurt.com/u?l=mSpLUX from PacerMonitor.com. About Pro Racking Systems Corp. Pro Racking Systems Corp. installs warehouse storage and pallet racking systems for commercial and industrial facilities, undertaking metal racking construction and tenant improvement projects. The company operates through licensed contracting activities tied to large-scale warehouse installations for commercial clients. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Cal. Case No. 26-12211) on March 25, 2026. In the petition signed by Gabriel J. Galeana, chief executive officer and sole shareholder, the Debtor disclosed $685,550 in total assets and $1,084,073 in total liabilities. Judge Scott H. Yun oversees the case. Joanne Sanchez, Esq., at Sanchez & Baltazar Attorneys, PC represents the Debtor as counsel. PROVIDENT COMMONWEALTH: S&P Affirms 'BB' Rating on 2018 Rev. Bonds ------------------------------------------------------------------ S&P Global Ratings affirmed its 'BB' rating on Massachusetts Development Finance Agency's series 2018 project revenue bonds, issued for Provident Commonwealth Educational Resources II Inc. (PCER II). The outlook is stable. S&P said, "We analyzed the project's environmental, social, and governance risks relative to the entity's enterprise and financial profiles and found them to be neutral within our credit analysis. "The stable outlook reflects the ongoing occupancy variation, modest coverage, and thin balance sheet cushion. While the project has not drawn on the DSRF to date or have any plans to do so in the near term, it has no clear way to replenish those funds. We believe it will be difficult to build up surpluses or replenish the DSRF, if needed, given that the project was originally structured with a high 82% academic year break-even occupancy and that there is no explicit extraordinary support from UMBA or UMass Dartmouth if PCER II has insufficient funds for debt service or the required lease payments." Management expects coverage for 2025 to be between 1.0x and 1.2x, which would trigger a consultant engagement, although not acceleration, and the budgeted coverage for fiscal 2026 is similarly close to the coverage requirements. "We could lower the rating if the debt service payment cannot be made without use of the DSRF or if occupancy and operations do not improve to near-breakeven levels or better." A higher rating would be predicated on evidence of sustained solid occupancy and cash flows sufficient to meet covenants and debt service payments on an ongoing basis. R.V. MULLENS: Lender Seeks to Prohibit Cash Collateral Access ------------------------------------------------------------- Kapitus Servicing, Inc. asks the U.S. Bankruptcy Court for the Eastern District of Arkansas to prohibit R.V. Mullens Logging, LLC from using alleged cash collateral during its Chapter 11 case unless adequate protection is provided. Kapitus asserts that it is a secured creditor under a Forward Purchase Agreement in which it effectively purchased $149,500 in the Debtor's future receivables for $115,000, requiring the debtor to remit fixed weekly ACH payments of $2,302. The agreement grants Kapitus a broad security interest in substantially all of the Debtor's assets, including accounts, receivables, inventory, equipment, cash, and proceeds, and Kapitus maintains that its interest is properly perfected through previously filed UCC financing statements dating back to June 2024. As of the petition date, the Debtor allegedly owed Kapitus approximately $110,568, including the remaining contract balance, fees, interest, and attorney's fees. Kapitus further notes that the Debtor ceased operations before filing but has since resumed post-petition business activity. All post-petition revenue constitutes Kapitus's collateral or proceeds of purchased receivables and therefore is not property of the bankruptcy estate or, alternatively, qualifies as cash collateral subject to Kapitus's consent and adequate protection rights. Kapitus contends it has not consented to the Debtor's use of such funds and that the Debtor has failed to provide adequate protection for Kapitus's interests. In the alternative, if the court permits use of the funds, Kapitus requests strict protective conditions, including budget compliance, reporting requirements, restrictions on spending, and weekly adequate protection payments of approximately $2,000. It also seeks replacement liens on post-petition assets, insurance requirements naming Kapitus as loss payee, inspection rights, immediate cessation of use upon default or case conversion, and entitlement to administrative expense protection under Section 507(b). Kapitus further argues it is entitled to prohibition of use because it bears risk of loss and has not been adequately protected, asserting that any use of the funds without court approval violates 11 U.S.C. Sections 363 and 552. A copy of the motion is available at https://urlcurt.com/u?l=oaGe4a from PacerMonitor.com. A court hearing is scheduled for June 30. About R.V. Mullens Logging LLC R.V. Mullens Logging, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. W. Va. Case No. 26-00140) on March 8, 2026, listing up to $1 million in assets and up to $10 million in liabilities. Judge David L. Bissett oversees the case. Ryan W. Johnson, Esq., at Johnson Legal Services, PLLC serves as the Debtor's counsel. Kapitus Servicing, Inc., as Servicing Agent of Kapitus LLC, is represented by: Sarah C. Ellis, Esq. Devon J. Stewart, Esq. William C. Ballard, Esq. STEPTOE & JOHNSON PLLC 707 Virginia Street E., 17th Foor Charleston, West Virginia 25301 Tel: (304) 353-8127 sarah.ellis@steptoe-johnson.com devon.stewart@steptoe-johnson.com william.ballard@steptoe-johnson.com REYNA HOSPITALITY: Court Extends Cash Collateral Access to July 6 ----------------------------------------------------------------- The U.S. Bankruptcy Court for the Southern District of New York issued a fifth interim order granting Reyna Hospitality Group Inc. approval to use the cash collateral of its secured creditors. The court authorized the Debtor to use cash collateral through July 6 in accordance with its budget, subject to a 10% variance. Use beyond this period requires further court approval at the final hearing. The Debtor previously entered agreements with several merchant cash advance lenders (MCAs) which filed UCC-1 financing statements. However, the Debtor disputes the validity or perfection of the MCAs' liens. Additionally, the State of New York holds tax warrants against the Debtor for unpaid taxes. As protection, these creditors will be granted replacement liens on the Debtor's property, proceeds, and future assets. These replacement liens will have the same priority and extent as the secured creditors pre-bankruptcy liens. The replacement liens are deemed automatically perfected without additional filings and will not attach to proceeds from avoidance actions. As part of the extension agreement, the debtor must pay $4,000 to the New York State Department of Taxation and Finance this month, consisting of $1,000 in adequate protection payments and $3,000 toward New York State's post-petition administrative claim. The replacement liens remain subordinate to certain administrative expenses, including Subchapter V trustee fees up to $25,000, clerk's fees, and hypothetical Chapter 7 trustee fees up to $10,000. The Debtor's authority to use cash collateral terminates immediately if any of the following occurs: conversion or dismissal of the bankruptcy case, confirmation of a Chapter 11 plan, uncured default, unauthorized modification of the order, or cessation of business operations. A final hearing is scheduled for June 25. A copy of the court's order and the Debtor's budget is available at https://sl1nk.com/aysac10 from PacerMonitor.com. About Reyna Hospitality Group Inc. Reyna Hospitality Group, Inc. operates a restaurant in New York City under the name Reyna New York. Reyna Hospitality Group sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. N.Y. Case No. 25-12020) on September 16, 2025, listing up to $1 million in both assets and liabilities. Samuel Dawidowicz serves as Subchapter V trustee. Judge Lisa G. Beckerman oversees the case. Robert L. Rattet, Esq., at Davidoff Hutcher & Citron, LLP, represents the Debtor as legal counsel. ROGUEFOX ENTERTAINMENT: Seeks to Tap Kit J. Gardner as Counsel -------------------------------------------------------------- RogueFox Entertainment, LLC seeks approval from the U.S. Bankruptcy Court for the Southern District of California to hire the Law Offices of Kit J. Gardner to serve as general bankruptcy counsel. The firm will provide these services: (a) assisting and rendering advice concerning the rights and remedies of the Debtor with respect to the property and liabilities of the estate; (b) representing the Debtor on behalf of the estate before the Court, including assisting in the preparation of pleadings, reports and orders as required to protect the interests of the estate; (c) assisting in the preparation of applications of employment and preparation and review of fee applications, and where appropriate, filing objections to the fee applications of other professionals; (d) providing advice with respect to the Debtor’s reorganization, including evaluation and development of a Subchapter V Plan of Reorganization; and (e) performing such other reasonable and related services within the scope of engagement as requested by the Debtor. The firm will be compensated on an hourly basis at $540 for Kit J. Gardner and $90 to $540 for clerks, paralegals, and other attorneys. The firm also received a $40,000 retainer, with a remaining balance of $31,296 after pre-petition draws. The Law Offices of Kit J. Gardner is a "disinterested person" within the meaning of Section 327(a) of the Bankruptcy Code. The firm can be reached at: Kit James Gardner, Esq. LAW OFFICES OF KIT J. GARDNER 501 West Broadway, Suite 800 San Diego, CA 92101 Telephone: (619) 525-9900 Facsimile: (619) 374-2241 E-mail: kgardner@gardnerlegal.com About RogueFox Entertainment LLC RogueFox Entertainment, LLC operates a combined bar and arcade in North Hollywood, California. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Cal. Case No. 26-02058) on May 12, 2026, with between $100,001 and $500,000 in both assets and liabilities. Judge J. Barrett Marum oversees the case. Kit James Gardner, Esq., at the Law Offices of Kit J. Gardner, represents the Debtor as bankruptcy counsel. ROGUEFOX ENTERTAINMENT: Taps Williams & Connolly as Counsel ----------------------------------------------------------- RogueFox Entertainment, LLC seeks approval from the U.S. Bankruptcy Court for the Southern District of California to employ Williams & Connolly LLP as its special litigation counsel. The firm will provide these services: (a) representing the Debtor in the case captioned 112 Genesee Street, LLC v. United States, Case No. 23-1876, in the United States Court of Federal Claims, as its special litigation counsel pursuant to section 327(e) of the Bankruptcy Code; and (b) representing the Debtor against the Defendant in the said action. The firm would also undertake to litigate any appeal from the United States Court of Federal Claims to the United States Court of Appeals to the Federal Circuit. The firm will be compensated on a contingency fee basis: – a contingency fee of between 20% and 28%, depending upon factors set forth in the agreement. – a contingency fee would be 20% of the recovery received by the Debtor but if the case goes to trial before resolution, the fee increases to 28% of the recovery received by the Debtor. – the Debtor will have no obligation for future fees, costs, or disbursements in the event the Debtor realizes no recovery. Williams & Connolly LLP is a "disinterested person" as that term is defined in the Bankruptcy Code and that the firm does not represent or hold any interest adverse to the Debtor or to the estate. The firm can be reached at: F. Greg Bowman, Esq. WILLIAMS & CONNOLLY LLP 200 Park Avenue New York, NY 10166 Telephone: (202) 434-5753 E-mail: fbowman@wc.com About RogueFox Entertainment LLC RogueFox Entertainment, LLC operates a combined bar and arcade in North Hollywood, California. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Cal. Case No. 26-02058) on May 12, 2026, with between $100,001 and $500,000 in both assets and liabilities. Judge J Barrett Marum oversees the case. Kit James Gardner, Esq., at the Law Offices of Kit J. Gardner, represents the Debtor as bankruptcy counsel. RRD PARENT: S&P Rates New $928MM Perpetual Preferred Stock 'CCC' ---------------------------------------------------------------- S&P Global Ratings assigned its 'CCC' issue-level rating to the up to approximately $928 million of redeemable perpetual preferred stock proposed to be issued by R.R. Donnelley & Sons Co.'s parent, RRD Parent Inc. The parent company is offering to issue the proposed perpetual preferred stock, along with warrants for shares of non-voting common stock, in exchange for a portion of its existing 10% senior notes due 2031 and all its existing redeemable perpetual preferred stock. The existing senior notes and preferred stock were both issued by RRD Parent Inc. S&P said, "As per our criteria, we base our ratings on hybrid securities by notching from the issuer credit rating (ICR). For issuers that we rate below the investment-grade category, we notch our issue-level ratings down two notches for subordination and, typically, by one notch for deferability for a total of three notches below the ICR. Accordingly, we assigned our 'CCC' issue-level rating to the proposed preferred shares, which is three notches below our 'B' ICR on R.R. Donnelley. "All our existing ratings on the company are unchanged. The stable outlook reflects our forecast that R.R. Donnelley will generate free operating cash flow (FOCF) to debt of at least 5% on a consistent basis despite ongoing secular pressures. The outlook also reflects our expectation the company will continue to prioritize using its FOCF and the proceeds from asset sales to repay its debt." SCOTTS MIRACLE-GRO: S&P Upgrades ICR to 'BB-', Outlook Stable ------------------------------------------------------------- S&P Global Ratings raised its issuer credit rating to 'BB-' from 'B+' on U.S.-based The Scotts Miracle-Gro Co. S&P also raised the issue-level rating on its senior unsecured notes to 'B+' from 'B-' and revised its recovery rating to '5' from '6', indicating its expectation for modest (10%-30%; rounded estimate: 15%) recovery in the event of a default. The revised recovery rating reflects S&P's reevaluation of the company's enterprise value at emergence in a hypothetical default bankruptcy scenario. S&P said, "The stable outlook reflects our expectation that Scotts will maintain S&P Global Ratings-adjusted leverage below 4x at its fiscal year end and interest coverage of at least 3x during the year, including during peak borrowing periods. Although tight, we expect the company will adequately manage its sizable seasonal working capital needs and generate positive FOCF of at least $250 million annually." The Scotts Miracle-Gro Co. improved its operating performance and credit metrics through organic EBITDA growth, the Hawthorne sale, and satisfactory free operating cash flow (FOCF). S&P expects the company will reduce its S&P Global Ratings-adjusted leverage to 3.7x as of Sept. 30, 2026 as it focuses on reducing leverage in line with its company-defined net leverage target of 3.0x-3.5x. S&P said, "Our forecast incorporates our view that Scott's profitability will likely be pressured in fiscal 2027 due to inflation in key inputs like fertilizers and energy because of the war in the Middle East. Nonetheless, we expect S&P Global Ratings-adjusted leverage to remain below 4x and for EBITDA interest coverage to remain comfortably above 3x during the year." The upgrade reflects Scotts' improved operating performance, with S&P Global Ratings-adjusted leverage sustained below 4x and management's financial policy commitment. Over the last 12 months ended March 28, 2026, Scotts increased its S&P Global Ratings-adjusted EBITDA 13% to $704 million driven by a mix shift toward higher-margin branded U.S. consumer products, supply chain savings, and solid sell-through trends. Point-of-sale (POS) was up 4% through March, including from greater e-commerce sales driven by increased marketing and advertising spending to grow that channel. Ultimately, this drove a 1x turn improvement in leverage compared with March 29, 2025. However, S&P forecasts S&P Global Ratings-adjusted EBITDA will decline to about $691 million at year-end because of moderate commodity headwinds and weaker POS trends in the second half of the year driven by unfavorable weather in the spring after its initial successful sell in season, as well as higher cash costs related to vendor payments that were previously paid with equity. S&P said, "Nonetheless, we forecast its S&P Global Ratings-adjusted leverage will be 3.7x in fiscal 2026, with S&P Global Ratings-adjusted EBITDA growing 6% in fiscal 2026, with greater first half growth. This compares with our expectation for company-reported net leverage of about 3.8x-3.9x by the end of fiscal 2026 (S&P Global Ratings-adjusted leverage includes debt and EBITDA adjustments for lease liabilities and accounts receivable facility financing), modestly weaker than its 3.7x leverage as of March 28, 2026. We forecast FOCF around $275 million in 2026 as Scotts prudently manages its cash costs but invests more in capital expenditure (capex) to drive growth. "We expect Scotts will remain committed to its company-reported net leverage target of 3x-3.5x. We forecast the company will remain focused on deleveraging over the next few years, primarily through profit growth (by driving higher-margin sales and reducing costs) and debt reduction. We expect Scotts will repay its $250 million senior unsecured note maturity in its fourth quarter of fiscal 2026 using cash generated during the year and revolver borrowings. We estimate about $215 million drawn on its revolver at year end. "While the company has a $500 million share repurchase authorization, we expect the company to remain disciplined in its capital allocation at least until it achieves its reported net leverage target, which we estimate will occur in fiscal 2028. We expect share repurchases to be limited to $20 million and $25 million in fiscal 2026 and 2027, respectively. Nevertheless, we recognize management's intention to repurchase about one-third of its shares over the medium term, which we assume would be completed within the constraints of its leverage commitment. We also anticipate the company will refrain from pursuing debt-funded acquisitions that would impede its deleveraging progress." The divestiture of Hawthorne supports margin expansion. After several years of underperformance, the company successfully sold Hawthorne to Vireo Growth Inc., a licensed cannabis operator in April 2026, albeit for virtually no cash proceeds. S&P said, "We view the divestiture as a credit positive because it reduces earnings volatility due to the risks associated with the cannabis industry, allowing the company to focus on its core--albeit low growth--consumer business. Pro forma, we expect net sales to grow about 1.5% in 2026 driven by volumes in the first half of the year, with modestly higher pricing to offset weaker volumes in the second half of the year. We forecast about 100 basis points (bps) of gross margin expansion and about 200 bps of EBITDA margin expansion in fiscal 2026, also driven by SKU rationalization and a focus on driving higher-margin branded product sales." Higher commodity costs could negatively affect Scotts' operating performance in fiscal 2027. Our base case assumes EBITDA declines about 5% in fiscal 2027, primarily because of higher fertilizer and oil-linked input costs, key inputs for Scotts' products. S&P said, "We expect Scotts to raise prices to offset higher costs of goods sold (COGS), which we expect will lead to greater price elasticities from consumers and thus volume declines. However, we expect Scotts' pricing actions, innovation, portfolio rationalization, and disciplined capital allocation to support S&P Global Ratings-adjusted leverage remaining 3.7x at fiscal 2027 year end." Furthermore, urea (a nitrogen-based chemical compound found in fertilizer) costs have declined to approximately $400/lb in June, compared with around $700/lb in April, which should support a more normal purchasing environment for the company heading into fiscal 2027 (the company typically starts purchasing and hedging urea and other key inputs in between June and September). Nonetheless, commodity risk remains given the uncertainty associated with the macroeconomic environment and the war in the Middle East. S&P said, "We believe Scotts is better positioned to withstand inflation compared with several years ago. This is because leverage is lower, inventory levels at both Scotts and its retailers are not excessive, the company has improved its cost structure and supply chain and it continues to gain market share in its key categories, supported by its leading positions in lawn and garden. Our forecast assumes Scotts will continue to invest in advertising and capex in fiscal 2027 to drive future growth. However, if operating performance is weaker than expected because of greater commodity headwinds and price elasticities from consumers, it could temporarily scale back on investments like capex and advertising to conserve cash. "We continue to assess Scotts' liquidity as less than adequate. This is because of heavy seasonal working capital requirements, uncommitted receivable securitization facility, and limited revolving credit facility covenant cushion. This is despite our view that Scotts is a satisfactory cash flow generator, and we expect it will continue to generate positive discretionary cash flow (DCF) in fiscal 2026 and 2027. Our liquidity assessment also reflects its reliance on the uncommitted off-balance sheet master receivables purchase agreement (MRPA), which we do not include as a liquidity source given it is an uncommitted facility." However, Scotts has historically been able to draw on the MRPA facility (which is backed by high quality retailer receivables) to fund most of its seasonal working capital needs and successfully renew it every year. Furthermore, borrowing capacity on its revolver is restricted by its leverage covenant, given less than 25% of EBITDA cushion. Due to Scott's close to $950 million seasonal working capital requirements, S&P Global Ratings-adjusted leverage typically increases in the first half of the year. However, the company has a track record of collecting cash and repaying debt such that its leverage ratio improves substantially (typically by around 1x) at its fiscal year end. S&P said, "The stable outlook reflects our expectation that Scotts will maintain S&P Global Ratings-adjusted leverage below 4x at its fiscal year end as well as interest coverage of at least 3x during the year, including during peak borrowing periods. We expect the company will adequately manage its sizable seasonal working capital needs and generate positive FOCF of at least $250 million annually. "We could lower the rating if we expect Scotts will sustain S&P Global Ratings-adjusted leverage above 4x at its fiscal year end." This could occur if: -- Consumer demand declines potentially due to a weakening macroeconomic environment, adverse weather conditions during peak selling seasons, or a dramatic shift in consumer spending away from lawn and garden products; -- High inflation or supply chain volatility causes the costs of key inputs like fertilizer and energy to rise, which the company cannot offset, pressuring margins and profitability; -- It loses market share in key categories due to escalating competition, including from store brands; or -- Its financial policy becomes more aggressive, including pursuing significant debt-financed acquisitions or large shareholder distributions. Furthermore, S&P could take a negative rating action if it projects the company's liquidity position will tighten, especially during Scotts' inventory build-up period. While unlikely over the next 12 months, S&P could raise its rating if Scotts reduces its S&P Global Ratings-adjusted leverage below 3x at its fiscal year end on a sustained basis. This could occur if: -- Economic conditions improve and demand for lawn and garden products rises, leading to net revenue growing above its historical low-single-digit growth rate; -- Scotts offsets headwinds related to input cost inflation and supply-chain bottlenecks with effective hedging and pricing actions; -- The company exhibits sustained EBITDA growth and gross margin expansion; and -- Financial policy targets a company-defined leverage ratio that is below 3x. SEASCAPE AQUARIUM: Daniel Etlinger Named Subchapter V Trustee ------------------------------------------------------------- The Acting U.S. Trustee for Region 21 appointed Daniel Etlinger of Underwood Murray, P.A. as Subchapter V trustee for Seascape Aquarium, Inc.. Mr. Etlinger will be paid an hourly fee of $350 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Etlinger declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Daniel E. Etlinger Underwood Murray, P.A. 100 N. Tampa Street, Suite 2325 Tampa Florida 33602 (813) 540-8401 Email: detlinger@underwoodmurray.com About Seascape Aquarium Inc. Seascape Aquarium, Inc. filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. M.D. Fla. Case No. 26-04884) on June 7, 2026, with $100,001 to $500,000 in assets and $500,001 to $1 million in liabilities. SOCIETY PASS: Seeks Approval to Retain Schwartz PLLC as Counsel --------------------------------------------------------------- Society Pass Incorporated and SoPa, Inc. seek approval from the U.S. Bankruptcy Court for the Southern District of Texas to retain Schwartz, PLLC as counsel. The firm will provide these services: (a) provide legal services in connection with the prosecution of the Chapter 11 Cases; (b) provide legal services in connection with the confirmation of the Chapter 11 Cases; (c) perform services pursuant to the Engagement Letter, as mutually agreed upon by Schwartz and the Debtors; and (d) provide such additional services as may be appropriate in connection with the Chapter 11 Cases. Schwartz, PLLC will be compensated on these hourly rates, plus reimbursement of actual and necessary expenses: - Partners: $800 to $1,200 - Associates: $525 to $725 - Paraprofessionals: $185 to $375 - Legal Assistants: $185 According to court filings, Schwartz, PLLC is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code. The firm can be reached at: Gabrielle A. Hamm, Esq. Veronica A. Polnick, Esq. Renee D. Wells, Esq. SCHWARTZ PLLC 440 Louisiana Street, Suite 1055 Houston, TX 77002 Telephone: (713) 900-3737 Facsimile: (702) 442-9887 E-mail: ghamm@nvfirm.com vpolnick@nvfirm.com rwells@nvfirm.com - and - Samuel A. Schwartz, Esq. Shayna R. Berger, Esq. SCHWARTZ PLLC 601 East Bridger Avenue Las Vegas, NV 89101 Telephone: (702) 385-5544 Facsimile: (702) 442-9887 E-mail: saschwartz@nvfirm.com sberger@nvfirm.com About Society Pass Incorporated Society Pass Incorporated is a Singapore-based company focused on acquiring and operating fintech, digital commerce, and consumer technology platforms across Southeast Asia and other markets. Society Pass Incorporated sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 26-90525) on May 12, 2026. In its petition, the Debtor reported estimated assets between $1 million and $10 million and estimated liabilities between $10 million and $50 million. The filing indicates that funds will be available for distribution to unsecured creditors. Honorable Bankruptcy Judge Alfredo R. Perez handles the case. The Debtor is represented by Gabrielle Alicia Hamm, Esq. of Schwartz Law. SOCIETY PASS: To Retain BiggsKofford Advisors as Tax Preparer ------------------------------------------------------------- Society Pass Incorporated and SoPa, Inc. seek approval from the U.S. Bankruptcy Court for the Southern District of Texas to retain BiggsKofford Advisors, LLC as tax preparer and advisor. The firm will provide these services: (a) prepare the Debtors' tax returns for the 2025 tax year; (b) advise the Debtors on any other tax matters that may arise during the Chapter 11 Cases, as BiggsKofford and the Debtors deem appropriate and necessary; (c) prepare Form 1120 - U.S. Corporation Income Tax Return; (d) prepare Form 114 - Report of Foreign Bank and Financial Accounts; (e) prepare Form 5471 - Information Return of U.S. Persons with Respect to Certain Foreign Corporations; and (f) prepare the Consolidated California State Return for AdActive Media CA Inc. The Debtors agreed to pay BiggsKofford a retainer of $21,250 and a flat fee of $42,500 for the Tax Compliance Services. Tax Advisory Services will be billed at these hourly rates: Partner: $465 to $690 Senior Manager: $430 to $565 Manager: $390 to $525 Supervisor: $340 to $475 Senior Associate: $230 to $345 Associate: $150 to $315 Administrative Staff: $105 to $315 BiggsKofford will also be reimbursed for reasonable out-of-pocket expenses incurred in connection with the engagement. BiggsKofford is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code, according to court filings. The firm can be reached at: Henry Ip BIGGSKOFFORD ADVISORS, LLC 1975 Research Pkwy, Suite 255 Colorado Springs, CO 80920 About Society Pass Incorporated Society Pass Incorporated is a Singapore-based company focused on acquiring and operating fintech, digital commerce, and consumer technology platforms across Southeast Asia and other markets. Society Pass Incorporated sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 26-90525) on May 12, 2026. In its petition, the Debtor reported estimated assets between $1 million and $10 million and estimated liabilities between $10 million and $50 million. The filing indicates that funds will be available for distribution to unsecured creditors. Honorable Bankruptcy Judge Alfredo R. Perez handles the case. The Debtor is represented by Gabrielle Alicia Hamm, Esq. of Schwartz Law. STARDOM CONSTRUCTION: Taps Thomas R. Willson as Legal Counsel ------------------------------------------------------------- Stardom Construction, L.L.C. seeks approval from the U.S. Bankruptcy Court for the Western District of Louisiana to hire Thomas R. Willson, a professional practicing law in Louisiana, to serve as legal counsel. Mr. Willson will provide these services: (a) give the Debtor and Debtor-in-Possession legal advice with respect to the Debtor's powers and duties in the continued operation of its business and management of its property; (b) generally represent the Debtor in all matters that may arise during the early stage of the Chapter 11 case, including matters necessary to avoid immediate and irreparable harm; (c) prepare and assist with required filings, schedules, statements, and other documents required under the Bankruptcy Code and Rules; and (d) perform all other legal services necessary for the Debtor-in-Possession in connection with this Chapter 11 case. Thomas R. Willson is a "disinterested person" and has no connection with the Debtor, its creditors, or any other party in interest, other than prior representation in connection with the filing and related matters, according to court filings. The firm can be reached at: Thomas R. Willson, Esq. Law Office of Thomas R. Willson 1330 Jackson Street - Suite C Alexandria, Louisiana 71301 Telephone: (318) 442-8658 Fax: (318) 442-9637 About Stardom Construction, L.L.C. Stardom Construction, L.L.C. sought protection under Chapter 11 of the Bankruptcy Code (Bankr. W.D. Louisiana, Alexandria Division Case No. 26-80399) on June 11, 2026. At the time of the filing, Debtor had estimated assets of between $50,001 and $100,000 and liabilities of between $100,001 and $500,000. Judge Stephen D Wheelis oversees the case. Thomas R. Willson is Debtor's legal counsel. SYP - NORTHWEST: Gets Final OK to Use Cash Collateral ----------------------------------------------------- SYP - Northwest L.C. received final approval from the United States Bankruptcy Court for the Northern District of Texas to use cash collateral and granting adequate protection to UBank, the secured lender. Under the final order, the Debtor may use cash collateral in accordance with a one-month budget, with flexibility of up to 15% per budget line item and 15% overall. The Debtor is authorized to collect and receive all cash funds and must provide monthly accounting reports to UBank. All post-petition cash receipts and accounts receivable collections must be deposited into a separate debtor-in-possession cash collateral account. The Debtor projects total monthly operational expenses of $21,100.00 As adequate protection, UBank received automatically perfected post-petition replacement liens on substantially all existing and future assets of the Debtor, including accounts receivable, inventory, deposit accounts, and related proceeds, to the extent of any diminution in value of its prepetition collateral resulting from the Debtor's use of cash collateral. The order specifically excludes Chapter 5 avoidance actions from the collateral package and does not prime tax authority liens. The Debtor must also maintain insurance on collateral and pay taxes when due. The order establishes several events of default, including conversion or dismissal of the bankruptcy case, removal of the Debtor as debtor-in-possession, or failure to comply with the order after a five-business-day cure period. Upon default, UBank may terminate consent to the use of cash collateral and seek expedited relief from the automatic stay. The order preserves all parties' rights to challenge the validity, extent, or priority of liens and claims at a later date while remaining binding on both the Debtor and secured lender. About SYP - Northwest L.C. SYP - Northwest L.C. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Tex. Case No. 26-42003-elm11) on May 5, 2026. In the petition signed by Shiraz R. Poonawala, president, the Debtor disclosed up to $10 million in both assets and liabilities. Judge Edward L. Morris oversees the case. Joyce Lindauer, Esq., at Lindauer & Vaughn, represents the Debtor as legal counsel. TALEN ENERGY: S&P Affirms 'BB-' ICR, Outlook Stable --------------------------------------------------- S&P Global Ratings affirmed all its ratings on Talen Energy Corporation, including the 'BB-' issuer credit rating, its 'BB+' issue-level rating on its senior secured debt, and its 'B+' issue-level rating on its unsecured debt. The '1' recovery rating on the secured debt and '5' recovery rating on the unsecured debt are unchanged. S&P said, "The stable outlook reflects our expectation for strong gross margins and EBITDA, largely due to the currently supportive energy and capacity price environment. However, because of the incremental debt stemming from the acquisition, we now forecast the company's S&P Global Ratings-adjusted debt to EBITDA and free operating cash flow (FOCF) to debt will be about 4.6x and 12%, respectively, for 2026. In 2027, we estimate Talen will improve its leverage to the 4.0x area as it benefits from a full year of contributions from the acquired assets." Talen Energy announced that it has completed the acquisition of three natural gas-fired assets from Energy Capital Partners (ECP) for $3.45 billion, including Lawrenceburg, an approximately 1.2-gigawatt (GW) combined-cycle gas turbine (CCGT) facility in Lawrenceburg, Ind.; Waterford, an 869-megawatt (MW) CCGT in Waterford, Ohio; and Darby, a 480-MW simple-cycle peaking facility in Mount Sterling, Ohio. In April 2026, the company issued about $2.5 billion of unsecured debt to fund its acquisition of these assets. As such, S&P revised its assessment of Talen's competitive position to reflect its increased scale and the diversification of its earnings away from Susquehanna (its crown jewel nuclear power asset), which has been a key limitation on our existing view of the business. S&P said, "The affirmation reflects its improved scale, diversity, and FOCF conversion following the addition of the Cornerstone assets, which we believe sufficiently offsets the material increase in its leverage. We view Talen's diversification of its earnings away from the Susquehanna nuclear plant, as well as its addition of approximately 2.6 GW of natural gas-fired generation across three assets in the PJM, favorably. "The acquisition has increased the company's generation portfolio to nearly 16.0 GW, of which 5.6 GW (or 35%) stems from CCGTs. We believe that this purchase, along with its acquisition of Freedom and Guernsey in the fourth quarter of 2025--which have cumulatively provided it with 5 GW of competitive natural gas-fired generation--have improved Talen's competitive position both from an earnings capacity and asset diversity perspective. We believe the increased proportion of CCGT capacity in the company's generation mix will support stronger FOCF conversion, given the units' higher thermal efficiency and correspondingly lower fuel costs." Pro forma for the transaction, Susquehanna will account for about 30% of Talen's EBITDA, which is down from 58% previously. The company's improved earnings diversity will help insulate it against idiosyncratic risks associated with a specific market (such as regulatory changes, weather, or fuel shortages) or a particular asset (technical issues or equipment failures). Talen's improved diversity will also increase its operational flexibility. For example, CCGTs, which represent about 54% of the company's pro forma portfolio, are the best positioned in the thermal-based generation category to capture tight market conditions and strong market economics. Therefore, if they experience an operational disruption, especially during hedged periods, Talen can use its peaking facilities to provide backup generation and limit its potential losses. The cash flow profile of CCGTs is also far more resilient than for peaking assets, which rely heavily (or solely) on the capacity markets. S&P believes that reducing the company's reliance on Susquehanna will enhance its cash flow stability by lowering its exposure to operational or market volatility at any one facility. Highly efficient nature of the Cornerstone CCGTs, given their low heat rates and favorable positioning in the PJM MAAC zone, supports competitive dispatch and margins. The operational performance of the Cornerstone assets was strong in 2025, with Lawrenceburg, Waterford, and Darby achieving capacity factors of 83%, 87%, and 13%, respectively. The combined-cycle units exhibit relatively efficient heat rates of approximately 7,000 Btus per kilowatt-hour (kWh), while the peaker has a higher heat rate of 12,492 Btus per kWh. The portfolio has locked in a significant amount of gross margin via attractive spark spread hedges, while recently cleared capacity prices represent a significant tailwind that will bolster Cornerstone's earnings profile because it derives 40%-45% of its gross margin from capacity payments. S&P expects the Cornerstone assets will account for approximately 20% of Talen's EBITDA in 2027, which reflects a full year of contributions from the acquired facilities. S&P said, "Given the largely debt-funded nature of the transaction, we expect Talen's leverage ratios will weaken. In April 2026, the company issued nearly $2.5 billion of senior unsecured notes to fund the acquisition, along with about $900 million of equity. Specifically, we expect Talen's S&P Global Ratings-adjusted debt to EBITDA will rise to about 4.6x in 2026 (based on partial earnings from the Cornerstone assets) before improving to the 4.0x area in 2027. Our forecast for an improvement in 2027 reflects the company's expanding EBITDA from favorable capacity prices, as well as our inclusion of a full year of earnings from the acquired assets. In addition, we expect Talen's FOCF to debt will be about 12% in 2026 before improving to 14% in 2027. Given the company's active share repurchase program, our forecast assumes it uses most of its FOCF generation between 2026 and 2027 to repurchase shares. We also expect some voluntary debt repayment during these years, which is largely consistent with management's forecast." Talen's decision to acquire existing capacity, rather than pursue newbuild development, reflects the elevated cost profile of greenfield generation amid rising demand and persistent supply chain bottlenecks, which--together--have materially weakened the relative economics of construction. While this transaction reflects Talen's aggressive acquisition-fueled growth strategy, which often leads to temporary increases in its leverage ratios, management has re-emphasized its commitment to maintain net leverage of 3.5x (per company's calculations) by the end of 2026. As such, S&P expects the company's long-term S&P Global Ratings-adjusted debt to EBITDA will settle in the 4x area. Concurrent with the close of the acquisition, Talen will increase the commitment of its existing revolving credit facility (RCF) to $1.35 billion (from $900 million) and upsize its existing letter of credit (LOC) facility to $1.5 billion (from $1.1 billion) while extending the LOC facility's maturity to December 2029 (from December 2027). S&P said, "Despite its improved competitive position, we continue to apply a negative comparable ratings analysis modifier to reflect Talen's more-limited scale and diversity relative to its larger industry peers, including NRG Energy Inc. and Vistra Corp. We note that these peers operates larger fleets (specifically Vistra), are diversified across multiple merchant markets (in comparison to Talen, which is PJM-focused with a concentration in one state, Pennsylvania), and have sizeable retail operations, which we view favorably given their counter cyclicality relative to wholesale generation. "We expect tailwinds in the PJM region supported by high data center energy demand and electrification. The demand for energy in the PJM has been robust and we expect it will remain elevated. Specifically, the PJM is experiencing substantial growth in data center energy consumption stemming from the expansion of digital infrastructure, which is a key reason for our increasing load forecasts. We expect these tailwinds will be advantageous for efficient assets that operate with high levels of dispatch and capacity factors (e.g., Talen's CCGT fleet), at least for the next two years, which will likely lead to relatively high spark spreads and energy margins. The two recent PJM Base Residual Auctions for 2026/2027 and 2027/2028, which cleared at the Federal Energy Regulatory Committee (FERC)-approved cap of $329.17 per MW-day and $333.44 per MW-day respectively for the entire PJM footprint is further evidence of the market battling with a supply and demand imbalance. We believe that with its expanded fleet of CCGT assets, Talen could expand its partnership with Amazon Web Services beyond Susquehanna by further contracting its assets on a long-term basis, which would enhance its earnings visibility and potentially provide it with cash flow upside relative to merchant curves. "The stable outlook reflects our expectation for strong gross margins and EBITDA, largely due to the currently supportive energy and capacity price environment. However, because of the incremental debt stemming from the acquisition, we now forecast the company's S&P Global Ratings-adjusted debt to EBITDA and FOCF to debt will be about 4.6x and 12%, respectively, for 2026. In 2027, we estimate Talen will improve its leverage to the 4x area as it benefits from a full year of contributions from the acquired assets. "We could lower our ratings on Talen if its S&P Global Ratings-adjusted debt to EBITDA rises and remains above 4.75x or its FOCF to debt declines and remains below 7.5%." This could occur if: -- The company undertakes sizable debt-funded shareholder dividends or share buybacks; -- A decrease in power prices, capacity prices, or energy spreads negatively affects the performance of its nonnuclear fleet; or -- Operational missteps leading to extended outages or technical problems cause the company's earnings to decline. S&P could raise its rating on Talen if: -- S&P expects the company's financial policy will target a lower leverage profile, such that it sustains S&P Global Ratings-adjusted debt to EBITDA of below 4.0x while maintaining FOCF to debt of at least 12%; or -- The company successfully diversifies its asset mix and reduces its regional concentration in the PJM such that S&P revise its view of its competitive position. TAM BOYTHE: Seeks to Tap Neeleman Law Group as Legal Counsel ------------------------------------------------------------ Tam Boythe Triton Group EHM, LLC seeks approval from the U.S. Bankruptcy Court for the Western District of Washington to hire Neeleman Law Group, P.C. to serve as legal counsel. The firm will provide these services: (a) assisting the Debtor in the investigation of the financial affairs of the estate; (b) providing legal advice and assistance to the Debtor with respect to matters relating to the case and creditor distribution; (c) preparing all pleadings necessary for proceedings arising under the case; and (d) performing all necessary legal services for the estate in relation to the case. Neeleman Law Group, P.C. will receive compensation at $600 per hour for principals, $475 per hour for associates, and $250 per hour for paralegals. The Debtor also paid a retainer of $6,738, of which $5,000 was applied to pre-petition services and $1,738 was used for the Chapter 11 filing fee. Additional compensation will be subject to Court approval. Neeleman Law Group, P.C. is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code and does not hold an interest adverse to the Debtor or the estate, according to court filings. The firm can be reached at: Thomas D. Neeleman, WSBA #33980 Jennifer L. Neeleman, WSBA #37374 NEELEMAN LAW GROUP, P.C. 1403 8th Street Marysville, WA 98270 Telephone: (425) 212-4800 Facsimile: (425) 212-4802 E-mail: jennifer@neelemanlaw.com About Tam Boythe Triton Group EHM, LLC Tam Boythe Triton Group EHM, LLC, doing business as The Triton Group EHM, LLC, provides SCRAM alcohol monitoring and GPS-based electronic home monitoring services. The company installs, monitors, and reports on alcohol monitoring programs and offers 24-hour electronic home monitoring for clients in Washington. Located in Everett, Washington, The Triton Group EHM serves participants and courts. Tam Boythe Triton Group EHM, LLC sought protection under Chapter 11 of the Bankruptcy Code (Bankr. W.D. Washington Case No. 26-11578) on May 12, 2026. At the time of the filing, the Debtor had estimated assets of between $100,001 and $500,000 and liabilities of between $1,000,001 and $10 million. Judge Timothy W. Dore oversees the case. Neeleman Law Group, P.C. is Debtor's legal counsel. TEGA MC: S&P Assigns Final 'B-' Issuer Credit Rating; Outlook Pos. ------------------------------------------------------------------ S&P Global Ratings assigned its 'B-' issuer credit rating to Tega MC SG Investments III Pte. Ltd. (which will do business as Molycop). S&P said, "We also assigned our 'B-' issue-level rating to the first-lien term loan issued by three coborrowers US Bidco, Canada Bidco, Tega MC Australia Holdings Pty Ltd. and guaranteed by Tega MC SG Investments III Pte, Ltd. The recovery rating is '3' indicating our expectation of moderate recovery expectations. "The positive outlook reflects our view that Molycop could lower debt leverage over time as the company has outlined a new financial policy focused on debt reduction." Tega Industries Ltd., in consortium with Apollo Funds, has completed its acquisition of Molycop for $1.5 billion. The acquisition was funded by approximately $740 million of equity–$470 million from Tega and Apollo (common equity) and $270 million from Apollo Funds (preferred equity), alongside a new $220 million five-year asset-based lending (ABL) facility ($138 million drawn at close) and $700 million seven-year senior secured term loan B. Molycop's existing $950 million term loan held by AIP MC Holding was fully repaid on closing, using proceeds from debt and equity contributions. US Bidco, Canada Bidco, and Tega MC Australia Holdings Pty Ltd. are coborrowers of the term loan. The acquisition includes a $120 million earnout tied to the restarts of Cobre Panama and Grasberg, payable in cash flows upon resumption of grinding media shipments. S&P considers this as a contingent consideration and include it in our debt adjustments. The consideration becomes payable upon achievement of certain business volumes and EBITDA milestones. S&P said, "We project leverage of 7x-7.5x in fiscal 2026, but anticipate the new strategic owner's financial policy and positive industry demand tailwinds could reduce leverage over time. The acquisition reduced Molycop's first-lien leverage and creates opportunities for further debt reduction, with Tega Industries Ltd. publicly targeting leverage below 2.5x within four years. Our adjusted debt calculation includes a $700 million first-lien term loan, $138 million in ABL borrowings, $270 million of preferred equity (with assumed payment-in-kind dividends), $120 million of contingent consideration, and $50 million in other adjustments. Based on an expected fiscal 2026 EBITDA of $170 million to $175 million, we forecast a debt-to-EBITDA ratio of approximately 7.2x. We anticipate positive free operating cash flow (FOCF) of $20 million to $30 million annually over the next few years, driven by lower interest expenses and improving EBITDA (reaching $190 million in fiscal 2027-2028), which could facilitate debt reduction. We also believe a portion of Molycop's cash is now available for debt repayment, reflecting the new strategic parent's financial policy compared to the previous sponsor. "We believe Molycop's competitive position could strengthen under its new parent, Tega Industries. The combination of Tega's polymer mill liners and Molycop's grinding media creates a global leader in mining consumables and equipment. While the businesses will continue to operate as standalone entities, the complementary offerings and capabilities could support commercial opportunities. Over time, stronger margins could lead to a stronger competitive position. This could come from Molycop driving higher pricing as it transitions more to a value-add supplier, with technological capabilities to optimize grinding media performance for its customers' mills, over traditional product fulfilment. Molycop's leading market share in key mining regions, coupled with grinding media representing a small portion (approximately 6%) of a mine's total cash costs could help Molycop capitalize on ongoing positive demand tailwinds. We expect commodity prices to drive gold and copper production growth." Declining ore grades at existing copper and gold mines require more efficient milling processes and thus additional grinding material. Even a modest 1% improvement in throughput and recovery can generate significant annual benefits, such as around $30 million for a typical copper mine. Molycop's global footprint provides an advantage as trade policies evolve. That said, the current environment presents challenges like rising freight costs due to protectionism and geopolitical tensions. However, Molycop's diversified production footprint and local customer service model–unlike less geographically diversified competitors–offer a significant advantage. The company's flexible logistics network allows it to adapt to trade disruptions. Chinese grinding media continues to pose a competitive threat, particularly in price-sensitive regions. Molycop's product quality, technology bundling, and local supply help maintain its market position and support further pricing differentiation compared with lower quality imports. The positive outlook reflects S&P's view that Molycop could lower debt leverage over time as the company has outlined a new financial policy focused on debt reduction. The positive outlook also reflects the supportive demand environment and tailwinds for Molycop as record gold and copper prices drive incremental demand for grinding media, for customers to maximize mine yields to benefit from record prices. S&P could revise its outlook to stable if leverage remains above 7x in fiscal 2027, resulting in slower-than-expected deleveraging. This could arise due to: -- Lower-than-expected FOCF from weaker EBITDA due to longer-than-expected disruption from flagship mines Cobre Panama and Grasberg; or -- Incremental debt or cash flow used for greater discretionary spending, such as capital expenditure or dividends. S&P could raise its ratings on Molycop if debt to EBITDA trends toward 6x. This could arise if: -- Earnings grow stronger than anticipated due additional upside from pricing and commercial synergies with Tega driving growth; or -- Stronger-than-expected cash flows leading to faster-than-expected debt reduction. UGA STREET: Hires The Serralles Group as Real Estate Broker ----------------------------------------------------------- UGA Street Properties LLC seeks approval from the United States Bankruptcy Court for the Middle District of Florida to employ The Serralles Group as real estate broker to assist in the sale of its real property located at 3607 N 52nd St., Tampa, FL 33619. The firm will provide these services: (a) act as exclusive real estate broker with the right to sell the Debtor's property; (b) market and promote the property to potential buyers; (c) perform all actions necessary to facilitate and effectuate the sale of the property; and (d) assist in the negotiation and completion of the sale transaction. The broker will receive compensation consisting of a 6% commission of the gross purchase price plus a $195 transaction fee, payable only upon closing and subject to Bankruptcy Court approval. The Serralles Group represents that it is a "disinterested person" and has no adverse interest in the Debtor or connections with parties in interest, creditors, or the U.S. Trustee, according to court filings. The firm can be reached at: Eddie Serralles 2322 N. Highland Ave. Tampa, FL 33602 Telephone: (813) 307-0007 About UGA Street Properties LLC UGA Street Properties sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No.: 26-04111) on May 14, 2026. In the petition signed by Christian Nwoye as managing member, the Debtor disclosed an estimated asset of $0 to $50,000 and estimated liabilities of $1 million to $10 million. Judge Roberta A. Colton presides over the case. Chad Van Horn, Esq., at VAN HORN LAW GROUP, P.A., represents the Debtor as legal counsel. VALOR CLUB: Case Summary & 15 Unsecured Creditors ------------------------------------------------- Debtor: The Valor Club Partners, LLC 10345 W. Olympic Blvd. Los Angeles, CA 90064 Case No.: 26-51523 Business Description: The Valor Club Partners, LLC is a single- asset real estate entity (as defined in 11 U.S.C. Section 101(51B)). Chapter 11 Petition Date: June 2, 2026 Court: United States Bankruptcy Court Western District of Texas Judge: Hon. Aubrey L Thomas Debtor's Counsel: Allen DeBard, Esq. LANGLEY & BANACK, INC. 745 E. Mulberry Ave. Suite 700 San Antonio TX 78212 Estimated Assets: $0 to $50,000 Estimated Liabilities: $1 million to $10 million The petition was signed by Irwin J. Deutch as managing member. A full-text copy of the petition, which includes a list of the Debtor's 15 unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/FUKVHNI/The_Valor_Club_Partners_LLC__txwbke-26-51523__0001.0.pdf?mcid=tGE4TAMA WAG & BONE: Seeks Approval to Hire Kamini Fox as Legal Counsel -------------------------------------------------------------- WAG & Bone, LLC seeks approval from the U.S. Bankruptcy Court for the Eastern District of New York to hire Kamini Fox, PLLC to serve as legal counsel. The firm will provide these services: (a) represent the Debtor and Debtor-in-Possession in all aspects of the Subchapter V Chapter 11 case; (b) prepare and file necessary motions, applications, reports, pleadings, orders, and other legal documents required in the case; (c) advise the Debtor regarding its powers, duties, and responsibilities as a Debtor-in-possession; (d) appear before the Bankruptcy Court, the U.S. Trustee, and other proceedings, and protect the interests of the estate; (e) represent the Debtor in litigation, claim objections, negotiations, and other matters necessary to preserve the estate; (f) assist in the formulation and negotiation of a plan of reorganization; and (g) perform all other necessary legal services in connection with the Chapter 11 case. Kamini Fox, PLLC will be compensated at a rate of $450 per hour for attorneys and $150 per hour for paralegals and legal assistants. The firm received a $17,500 pre-petition retainer, with $6,840 applied to pre-petition services and $10,660 remaining for post-petition services, subject to court approval of compensation and reimbursement. Kamini Fox, PLLC is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code and, according to court filings, holds no adverse interest to the Debtor or its estate. The firm can be reached at: Kamini Fox, Esq. Kamini Fox, PLLC 825 East Gate Blvd., Suite 308 Garden City, NY 11530 Telephone: (516) 493-9920 E-mail: kamini@kfoxlaw.com About Wag & Bone LLC Wag & Bone, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.Y. Case No. 26-42300) on May 12, 2026, with $100,001 to $500,000 in both assets and liabilities. Judge Elizabeth S. Stong presides over the case. Kamini Fox, Esq., at Kamini Fox, PLLC represents the Debtor as legal counsel. WEBSTER ETC: Seeks to Extend Plan Exclusivity to Aug. 8 ------------------------------------------------------- Webster ETC, LLC asked the U.S. Bankruptcy Court for the Southern District of Texas to extend its exclusivity periods to file a plan of reorganization and obtain acceptance thereof to Aug. 8 and Oct. 6, 2026, respectively. The Debtor owns and operates a Tex-Mex restaurant under a franchise agreement with El Tiempo in Webster, Texas. The Debtor has operated this El Tiempo restaurant franchise in Webster, Texas since 2017. The Debtor explains that courts have applied a more lenient standard when determining whether to grant a debtor's first exclusivity request, although the party seeking an exclusivity extension bears the burden of demonstrating cause. The Debtor asserts that the relevant factors strongly favor an extension of its Exclusivity Periods: * The fact that the Debtor is paying its bills as they come due. The Debtor is paying post-petition obligations as they come due and in the ordinary course. Debtor does not anticipate that there are large or outstanding administrative obligations. This factor weighs in favor of extending the Exclusivity Periods. * The need for sufficient time to permit the Debtor to negotiate a plan of reorganization and prepare adequate information. The Debtor's two critical issues for a chapter 11 plan are assumption of the Debtor's real property lease and violations of the automatic stay and the Debtor's franchise agreement by the Debtor's franchisor, which the Debtor is prosecuting in Webster ETC, LLC v. El Tiempo Franchise Group, LLC, pending as adversary proceeding no. 26-3134. The Defendant filed its answer on May 29, 2026, and the parties are conferring on scheduling. * Whether the debtor has demonstrated reasonable prospects for filing a viable plan. The Debtor is working to resolve its main issues, including with the Debtor's franchisor through the adversary and through offers to the franchisor to mediate. The Debtor is open to all resolutions that result in maximum value to the estate. The Debtor is also working to finalize a motion to assume its real property lease, which would allow the Debtor to remain in its same location and continue operating on a post confirmation basis. * The existence of good faith progress toward reorganization. As stated, the Debtor is working to either consensually resolve or else litigate issues with the Debtor's franchisor and lessor. The Debtor has already filed its adversary against the franchisor and is preparing filings to assume the Debtor’s real property lease. * An Extension of the Exclusivity Periods Will Not Prejudice Creditors. The Debtor seeks to maintain exclusivity so parties with competing interests do not hinder their efforts to finalize a value-maximizing restructuring. All stakeholders benefit from the continued stability and predictability that a centralized process provides, which can only occur while the Debtor remains the sole potential plan proponent. * The Debtor Is Not Pressuring Creditors by Requesting an Extension of the Exclusivity Periods. The Debtor's restructuring process is intended to confirm a plan that maximizes the value of the Debtor's estate for all of the Debtor's key economic stakeholders. The Debtor requests a brief extension of the Exclusivity Periods not to pressure creditors, but to provide a sufficient, flexible window in which the Debtor can obtain additional certainty regarding their path to exit from chapter 11 without the disruption and distraction created by unanticipated competing plan proposals. * Unresolved Contingencies Exist. As stated, the Debtor is litigating against its franchisor and anticipates additional contested matters with the Debtor's real property lessor. These two stakeholders are key components of the Debtor's chapter 11 plan and the outcomes of the litigation and anticipated contested matters will necessarily affect the Debtor's chapter 11 plan formulation. About Webster ETC LLC Webster ETC owns and operates a Tex-Mex restaurant under a franchise agreement with El Tiempo in Webster, Texas. It has operated this El Tiempo restaurant franchise in Webster, Texas since 2017. Webster ETC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 26-90333) on Feb. 9, 2026, with between $1 million and $10 million in both assets and liabilities. Judge Christopher M Lopez oversees the case. Webster ETC, LLC is represented by: Genevieve M. Graham, Esq. Genevieve Graham Law, PLLC dba Graham PLLC 4203 Montrose Blvd., Suite 550 Houston, TX 77006 Telephone: (832) 367-5705 E-mail: ggraham@graham-pllc.com WESTERN GLOBAL: Wins Bid to Dismiss "Woods" Discrimination Lawsuit ------------------------------------------------------------------ Judge John E. Steele of the U.S. District Court for the Middle District of Florida granted Western Global Airlines, Inc.'s motion to dismiss second amended complaint in the case captioned as MARGARET M WOODS, Plaintiff, v. WESTERN GLOBAL AIRLINES, INC., Reorganized Debtor of Mobility Air LLC, et al., Defendant, Case No: 2:26-cv-00306-JES-KRH (M.D. Fla.). The complaint is dismissed without prejudice. Woods is an African American Woman who served as an "Aircraft Inspector" for Western Global between May 5, 2020, and October 14, 2020. Throughout her employment, Woods was the only African American woman in the role and was treated differently than her white male counterparts. Her work was scrutinized, and she was verbally admonished for behavior the white male Inspectors also engaged in. Despite this scrutiny, Woods had no performance issues and was never written up. Confused by this, Woods filed a discrimination charge with the Louisiana Commission on Human Right ("LCHR") and Equal Employment Opportunity Commission ("EEOC") on February 18, 2021. While Woods's charge was pending with the LCHR and the EEOC, Western Global filed a voluntary petition for Chapter 11 bankruptcy with the United States Bankruptcy Court for the District of Delaware on August 7, 2023. Approximately two months later, on October 17, 2023, Woods filed two Proof of Claims in the bankruptcy case relating to her discrimination charge. A month later, on November 21, 2023, the bankruptcy court entered an order confirming the Amended Joint Chapter 11 Plan of Reorganization (the "Plan"). The Effective Date was December 13, 2023. After receiving the right to sue letter from the EEOC on August 20, 2025, Woods filed suit in the United States District Court for the Northern District of Texas, which was subsequently transferred to the Middle District of Florida on February 10, 2026. Woods's Second Amended Complaint now brings federal and state claims for discrimination against Western Global. Western Global contends Woods's claims are discharged by the Plan since her discrimination claims arose before the Effective Date. Woods, however, argues her claims did not arise before the Effective Date because her "case was in the investigative stages" with the EEOC. The Court agrees with Western Global. The Court finds Woods's cause of action accrued before December 13, 2023, and the Plan discharged her claim. Since Western Global has been discharged from liability, the Court must dismiss the case. A copy of the Court's Opinion and Order dated June 12, 2026, is available at https://urlcurt.com/u?l=bl7Yoq from PacerMonitor.com. About Western Global Airlines Western Global Airlines, Inc., provides contracted air cargo transportation services ranging from ACMI (Aircraft, Crew, Maintenance, and Insurance) to Full Service, on a global scale. WGA is a high-tech air cargo platform serving customers in e-commerce, express, freight forwarding, logistics, nonprofit, and governmental organizations. Western Global Airlines and affiliates sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Lead Case No. 23-11093) on August 7, 2023. In the petition signed by James K. Neff, chief executive officer, the Debtor disclosed up to $500 million in assets and up to $1 billion in liabilities. Judge Karen B. Owens oversees the case. The Debtors tapped Weil, Gotshal & Manges LLP as general bankruptcy counsel, Richards, Layton & Finger, P.A., as local bankruptcy counsel, Evercore Group L.L.C. as investment banker, FTI Consulting, Inc., as provider of interim management and financial advisory services, and Stretto, Inc., as claims, noticing, and solicitation agent. DKB Partners LLC, as DIP Lender and Prepetition Lender, is represented by Young Conaway Stargatt & Taylor, LLP. Daugherty, Fowler, Peregrin, Haught and Jenson, P.C., serves as DOT/FAA counsel for the DKB DIP Lender. Paul, Weiss, Rifkind, Wharton & Garrison LLP, serves as counsel to the Ad Hoc Group of DIP Lenders and Certain Creditors. Ducera Partners LLC, serves as financial advisor for the Funding Group DIP Lenders. Landis Rath & Cobb LLP, is the Delaware counsel for the Funding Group DIP Lenders. PIRINATE Consulting Group, LLC, is the strategic advisor to the Funding Group DIP Lenders. The U.S. Trustee for Region 3 appointed an official committee to represent unsecured creditors in the Chapter 11 cases of Western Global Airlines Inc. The committee retained Willkie Farr & Gallagher LLP as its lead counsel, Potter Anderson & Corroon LLP as Delaware and conflicts counsel, and AlixPartners, LLP as financial advisor. WILFONG HOSPITALITY: To Hire Black Diamond Realty as Broker ----------------------------------------------------------- WILFONG HOSPITALITY II, LLC seeks approval from the U.S. Bankruptcy Court for the Northern District of West Virginia to employ Black Diamond Realty LLC to serve as its real estate broker in connection with the marketing and sale of its real property. The firm will provide these services: (a) accept, deliver, and present to the Debtor offers and counteroffers to buy, sell, or lease the property; (b) assist the Debtor in developing, communicating, negotiating, and presenting offers and counteroffers until a sale or lease agreement is signed and all contingencies are satisfied or waived; (c) answer the Debtor’s questions relating to any offer, counteroffer, notice, or contingency; (d) market the property to prospective purchasers and conduct outreach to potential buyers and investors; and (e) arrange the sale or other disposition of the property, including financing, and assist in maximizing value for the estate. Black Diamond Realty LLC will receive a commission equal to 4% of the gross purchase price realized from any sale of the property. The compensation is contingent upon the successful closing of a transaction, and no commission is paid unless a sale is completed. The Court-approved order also provides that Black Diamond is excused from maintaining time records and from filing fee applications, provided compensation remains within the approved Fee Structure. Black Diamond Realty LLC is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code, according to court filings. The firm can be reached at: David Lorenze Black Diamond Realty LLC 1399 Stewartstown Rd #150 Morgantown, WV 26505 Tel: (304) 685-3092 E-mail: dlorenze@blackdiamondrealty.net blackdiamondrealty.net About Wilfong Hospitality II, LLC Wilfong Hospitality II, LLC is a hospitality company engaged in the ownership, management, and operation of lodging and hospitality-related assets. Wilfong Hospitality II, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-00366) on May 28, 2026. In its petition, the Debtor reports estimated assets of $1 million to $10 million and estimated liabilities of $1 million to $10 million. Honorable Bankruptcy Judge David L. Bissett handles the case. The Debtor is represented by Stephen L. Thompson, Esq. of Barth & Thompson. WKH LLC: Taps The Law Offices of Gary S. Poretsky LLC as Counsel ---------------------------------------------------------------- WKH LLC seeks approval from the United States Bankruptcy Court for the District of Maryland to employ The Law Offices of Gary S. Poretsky LLC as its bankruptcy counsel. The firm will provide these services: (a) advise the Debtor of its rights, powers and duties as debtor-in-possession; (b) advise the Debtor regarding matters of bankruptcy law; (c) represent the Debtor in proceedings and hearings before the Court; (d) review the nature and validity of liens asserted against the property of the Debtor and advise on enforceability; (e) prepare on behalf of the Debtor all necessary and appropriate applications, motions, pleadings, orders, notices, and other documents, and review financial and other reports filed in the Chapter 11 case; (f) advise and prepare responses to applications, motions, pleadings, notices, and other papers filed in the case; and (g) perform all other legal services necessary or appropriate in the administration of the Chapter 11 case. The Law Offices of Gary S. Poretsky LLC will be compensated at an hourly rate of $495 for attorneys, plus reimbursement of actual and necessary expenses. The firm also received an initial $10,000 retainer, with $5,000 drawn prepetition and $5,000 held in escrow for postpetition fees and expenses. The Law Offices of Gary S. Poretsky LLC is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code and has disclosed no adverse interests, except prior representation in a related bankruptcy case. The firm can be reached at: Gary S. Poretsky, Esq. The Law Offices of Gary S. Poretsky LLC 6 Church Lane Pikesville, MD 21208 About WKH LLC WKH, L.L.C. owns the real property at 700 Connolly Farms Road in Fallston, Maryland. WKH LLC sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Maryland Case No. 26-15951) on June 4, 2026. At the time of filing, the Debtor's estimated assets were between $1,000,001 and $10 million and liabilities were between $1,000,001 and $10 million. The case is pending in the Baltimore Division of the United States Bankruptcy Court for the District of Maryland. Judge information was not provided in the record. The Law Offices of Gary S. Poretsky LLC is Debtor's legal counsel. WWEX UNI: S&P Withdraws 'B-' ICR After Acquisition by Thoma Bravo ----------------------------------------------------------------- S&P Global Ratings withdrew its 'B-' issuer credit rating on WWEX UNI Topco Holdings LLC. We also discontinued the 'B-' issue-level rating on its first-lien credit facilities after the debt was repaid in full. Thoma Bravo completed its acquisition of WWEX UNI on June 1, 2026. WWEX UNI's revolving credit facility and term loan were repaid at close. At the time of withdrawal, the outlook was stable. XEROX HOLDINGS: S&P Upgrades ICR to 'CCC+', Outlook Negative ------------------------------------------------------------ S&P Global Ratings raised its issuer credit rating on Xerox Holdings Corp. to 'CCC+' from 'SD' (selective default). At the same time, S&P affirms its existing issue-level rating on the company's secured debt and most of its senior unsecured notes. The issue-level rating on the senior unsecured notes due in 2028 is unchanged at 'D' until S&P no longer expect below-par repurchases of that instrument in the near term. The negative outlook reflects the challenges Xerox faces as it works to generate long-term organic revenue growth and positive core FOCF. Nonetheless, S&P expects Xerox will have sufficient liquidity to fund its debt servicing needs prior to those maturities. S&P Global Ratings believes Xerox Holdings Corp. continues to face refinancing risk related to its debt maturities due 2028 and 2029 because of the ongoing secular decline in the print industry and S&P's expectation it will generate negative core free operating cash flow (FOCF; excluding the proceeds from finance receivable reductions) in 2026. S&P said, "At the same time, we note the company is making good progress in improving its profitability through cost savings and synergies from the Lexmark acquisition. We expect this to lead to a slightly higher S&P Global Ratings-adjusted margin of about 9% in 2026 and a reduced core FOCF deficit in 2027." Uncertain print demand and a high interest burden continue to weigh on Xerox's revenue and core FOCF generation. The company repurchased about $101 million in face value of its bonds due 2028 on the open market in the first quarter of 2026. While the repurchase somewhat reduced the size of that maturity, we still believe Xerox faces refinancing risks related to its outstanding notes due 2028 and 2029. This reflects our expectation for continued negative core FOCF and decreasing revenue on a pro forma basis. Given the secular demand headwinds in the print market (especially in the A3 segment), we expect Xerox's reported pro forma revenue will decline by 4%-6% in 2026, despite the improved U.S. demand in the first quarter following the end of the government funding delays during the fourth quarter of 2025. Xerox seems to be making good progress toward realizing cost savings and Lexmark-related cost synergies and intends to achieve total gross savings of $250 million-$300 million in 2026. The company expects to realize these benefits with actions such as unifying its go-to-market function and moving more of its A3 production in-house later this year. S&P said, "Therefore, we expect Xerox will slightly improve its pro forma S&P Global Ratings-adjusted EBITDA margins to about 9% despite a backdrop of memory, metal, and oil-related input cost inflation. Nonetheless, we expect the company to generate negative reported core FOCF of $80 million-$110 million in 2026, given its considerable annual cash interest burden despite the modest benefit from its note repurchases in the first quarter." This is equivalent to S&P Global Ratings-adjusted FOCF of negative $30 million-$40 million (which also excludes one-off Lexmark cash integration costs). S&P said, "We note that Xerox could undertake further debt repurchases or similar transactions that provide its debtholder with less than they were originally promised. However, the timing of such transactions is uncertain and we maintain the 'D' issue-level rating on the senior unsecured notes due in 2028 to reflect the risk of further below-par repurchases of that instrument in the near term. "While Xerox will likely have adequate near-term liquidity, we expect considerably lower finance receivable inflows after 2026. We expect the company to have sufficient liquidity to cover its debt service costs and maturities over the next 24 months. This reflects the $450 million of new joint-venture (JV) financing it raised in February, the over $300 million of proceeds from finance receivable reductions it expects this year, the realization of cost savings and synergies, and modest annual reported dividends of about $27 million. At the same time, the prospect for a considerable decrease in the proceeds from its finance receivable reductions after 2026 adds to our uncertainty around Xerox's ability to refinance its 2028 and 2029 debt maturities ($649 million and $500 million outstanding, respectively, as of March 31, 2026) at favorable rates. "The negative outlook reflects the challenges Xerox faces as it works to generate long-term organic revenue growth and positive core FOCF. Nonetheless, we expect Xerox will have sufficient liquidity to fund its debt servicing needs prior to those maturities." S&P could lower its rating on Xerox if: -- There is increased risk it will consider further debt repurchases or other significant transactions, including debt exchanges under its warrants, which S&P views as offering its lenders less than they were originally promised over the next twelve months. S&P would especially consider transactions that involve debt tranches outside the senior unsecured notes due in 2028; -- It experiences steeper organic revenue declines or weaker operating performance than S&P expects. This could occur due to weaker print demand, competitive pressures, difficulties integrating Lexmark, or strategic execution mishaps; or -- S&P expects it to generate worse-than-expected core FOCF deficits over the next 12 months or its liquidity deteriorates significantly. Core FOCF excludes one-time Lexmark integration costs and the benefit from its decreasing finance receivables portfolio. S&P would revise its outlook on Xerox to stable if: -- Its successful transformation program and integration of Lexmark help stabilize its long-term reported revenue. This could occur if increases in its A4 color and IT and digital service revenue offsets the declines in its A3 print revenue; and -- The company generated near break-even core FOCF. [] S&P Takes Various Actions on 29 Classes From 7 U.S. CLO Deals ---------------------------------------------------------------- S&P Global Ratings took various rating actions on 29 classes of debt from seven broadly syndicated. U.S. CLO transactions. S&P said, "Of the reviewed ratings, we raised 14, lowered nine, and affirmed six. At the same time, we removed 14 of these ratings from CreditWatch with positive implications and nine of from CreditWatch with negative implications, where they were placed on May 6, 2026, due to a combination of paydowns, indicative cash flow results, and credit support at that time." A list of Affected Rating can be viewed at: https://tinyurl.com/3araa33d S&P said, "The rating actions follow our review of each transaction's performance using data from their respective trustee reports. In our review, we analyzed each transaction's performance and cash flows and applied our global corporate CLO criteria." The transactions have all exited their reinvestment periods and are paying down the debt in the order specified in their respective documents. S&P said, "In line with our criteria, our cash flow scenarios applied forward-looking assumptions on the expected timing and pattern of defaults and recoveries upon default under various interest rate and macroeconomic scenarios. "In addition, our analysis considered each transaction's ability to pay timely interest and/or ultimate principal to each of the rated tranches. The results of the cash flow analysis--and other qualitative factors as applicable--demonstrated, in our view, that all of the rated outstanding classes have adequate credit enhancement available at the rating levels associated with these rating actions. "While each class's indicative cash flow results are a primary factor, we also incorporated other considerations into our decision to raise, lower, or affirm ratings or limit rating movements." These considerations typically include: -- Whether the CLO is reinvesting or paying down its notes; -- Existing subordination or overcollateralization (O/C) levels and recent trends; -- The cushion available for coverage ratios and comparative analysis with other CLO classes with similar ratings; -- Forward-looking scenarios for 'CCC' and 'CCC-' rated collateral, as well as collateral with stressed market values; -- Current concentration levels; -- The risk of imminent default or dependence on favorable market conditions to meet obligations; and -- Additional sensitivity runs to account for any of the other considerations. The upgrades primarily reflect the classes' increased credit support due to the senior note paydowns, improved O/C levels, and passing cash flow results at higher rating levels. The downgrades primarily reflect the class's indicative cash flow results and decreased credit support because of principal losses, decline in the weighted average spread in their respective portfolios, and negative migration in portfolio credit quality. S&P said, "The affirmations reflect our view that the available credit enhancement for each respective class is still commensurate with the assigned ratings. "Although our cash flow analysis indicated different ratings for some classes of debt, we took the rating action after considering one or more qualitative factors listed above. The ratings list highlights the key performance metrics behind the specific rating actions. "We will continue to review whether, in our view, the ratings assigned to the notes remain consistent with the credit enhancement available to support them and will take rating actions as we deem necessary." [^] Recent Small-Dollar & Individual Chapter 11 Filings ------------------------------------------------------- In re Chad Leon Brewer and Emily Gretchen Brewer Bankr. S.D. Ind. Case No. 26-03633 Chapter 11 Petition filed June 5, 2026 represented by: Harley Means, Esq. In re Adrian J Johnson Bankr. E.D. Mo. Case No. 26-42479 Chapter 11 Petition filed June 5, 2026 Filed Pro Se In re George D Meyerson and Kerian Meyerson Bankr. D.N.M. Case No. 26-10786 Chapter 11 Petition filed June 5, 2026 represented by: Christopher Gatton, Esq. BANKRUPTCY NM, LLC In re 104 2nd LLC Bankr. E.D.N.Y. Case No. 26-42778 Chapter 11 Petition filed June 5, 2026 See https://www.pacermonitor.com/view/XBBGA7A/104_2nd_LLC__nyebke-26-42778__0001.0.pdf?mcid=tGE4TAMA Filed Pro Se In re 615 Webster Bankr. E.D.N.Y. Case No. 26-42789 Chapter 11 Petition filed June 5, 2026 See https://www.pacermonitor.com/view/TWI5NAI/615_Webster__nyebke-26-42789__0001.0.pdf?mcid=tGE4TAMA Filed Pro Se In re 628 Hill LLC Bankr. E.D.N.Y. Case No. 26-42784 Chapter 11 Petition filed June 5, 2026 See https://www.pacermonitor.com/view/V2J5TOI/628_Hill_LLC__nyebke-26-42784__0001.0.pdf?mcid=tGE4TAMA Filed Pro Se In re 628 Fig St LLC Bankr. E.D.N.Y. Case No. 26-42781 Chapter 11 Petition filed June 5, 2026 See https://www.pacermonitor.com/view/UDNKIXQ/628_Fig_St_LLC__nyebke-26-42781__0001.0.pdf?mcid=tGE4TAMA Filed Pro Se In re 809 Moosic LLC Bankr. E.D.N.Y. Case No. 26-42779 Chapter 11 Petition filed June 5, 2026 See https://www.pacermonitor.com/view/XKMZQYY/809_Moosic_LLC__nyebke-26-42779__0001.0.pdf?mcid=tGE4TAMA Filed Pro Se In re 915 Hickory LLC Bankr. E.D.N.Y. Case No. 26-42785 Chapter 11 Petition filed June 5, 2026 See https://www.pacermonitor.com/view/2NNBVZY/915_Hickory_LLC__nyebke-26-42785__0001.0.pdf?mcid=tGE4TAMA Filed Pro Se In re 1924 Washburn LLC Bankr. E.D.N.Y. Case No. 26-42775 Chapter 11 Petition filed June 5, 2026 See https://www.pacermonitor.com/view/W24KWZI/1924_Washburn_LLC__nyebke-26-42775__0001.0.pdf?mcid=tGE4TAMA Filed Pro Se In re 2113 Boulevard LLC Bankr. E.D.N.Y. Case No. 26-42783 Chapter 11 Petition filed June 5, 2026 See https://www.pacermonitor.com/view/VKS6DZQ/2113_Boulevard_LLC__nyebke-26-42783__0001.0.pdf?mcid=tGE4TAMA Filed Pro Se In re 2623 N Main Bankr. E.D.N.Y. Case No. 26-42786 Chapter 11 Petition filed June 5, 2026 See https://www.pacermonitor.com/view/2RFMJHY/2623_N_Main__nyebke-26-42786__0001.0.pdf?mcid=tGE4TAMA Filed Pro Se In re 754 Hyde Park LLC Bankr. E.D.N.Y. Case No. 26-42787 Chapter 11 Petition filed June 5, 2026 See https://www.pacermonitor.com/view/3GNCMHQ/754_Hyde_Park_LLC__nyebke-26-42787__0001.0.pdf?mcid=tGE4TAMA Filed Pro Se In re 840 Brook LLC Bankr. E.D.N.Y. Case No. 26-42780 Chapter 11 Petition filed June 5, 2026 See https://www.pacermonitor.com/view/XZJXGLQ/840_Brook_LLC__nyebke-26-42780__0001.0.pdf?mcid=tGE4TAMA Filed Pro Se In re Eftialex Corp. Bankr. E.D.N.Y. Case No. 26-42796 Chapter 11 Petition filed June 5, 2026 See https://www.pacermonitor.com/view/J7II3MY/Eftialex_Corp__nyebke-26-42796__0001.0.pdf?mcid=tGE4TAMA represented by: Lawrence Morrison, Esq. MORRISON TENENBAUM PLLC E-mail: lmorrison@m-t-law.com In re Isaac C Sutton Bankr. E.D.N.Y. Case No. 26-42788 Chapter 11 Petition filed June 5, 2026 represented by: Julie Curley, Esq. In re Components Plus, Inc. Bankr. E.D.N.C. Case No. 26-02544 Chapter 11 Petition filed June 5, 2026 See https://www.pacermonitor.com/view/HMES3CI/Components_Plus_Inc__ncebke-26-02544__0001.0.pdf?mcid=tGE4TAMA represented by: Zachary Malnik, Esq. WALDREP WALL BABCOCK & BAILEY PLLC E-mail: notice@waldrepwall.com In re RareElectrical.com, Inc. Bankr. E.D.N.C. Case No. 26-02543 Chapter 11 Petition filed June 5, 2026 See https://www.pacermonitor.com/view/GSCBBCA/RareElectricalcom_Inc__ncebke-26-02543__0001.0.pdf?mcid=tGE4TAMA represented by: Zachary Malnik, Esq. WALDREP WALL BABCOCK & BAILEY PLLC E-mail: notice@waldrepwall.com In re Florida Parts Distributors, Inc. Bankr. E.D.N.C. Case No. 26-02546 Chapter 11 Petition filed June 5, 2026 See https://www.pacermonitor.com/view/H2GKA3I/Florida_Parts_Distributors_Inc__ncebke-26-02546__0001.0.pdf?mcid=tGE4TAMA represented by: Zachary Malnik, Esq. WALDREP WALL BABCOCK & BAILEY PLLC E-mail: notice@waldrepwall.com In re Baha Hamed Bankr. W.D. Tenn. Case No. 26-23065 Chapter 11 Petition filed June 5, 2026 In re Franklin Daniel and Sandra Daniel Bankr. M.D. Tenn. Case No. 26-02705 Chapter 11 Petition filed June 5, 2026 represented by: Henry Hildebrand, Esq. DUNHAM HILDEBRAND PAYNE WALDRON, PLLC In re North Texas Fiber, Inc. Bankr. N.D. Tex. Case No. 26-32522 Chapter 11 Petition filed June 5, 2026 See https://www.pacermonitor.com/view/XRF7CSA/North_Texas_Fiber_Inc__txnbke-26-32522__0001.0.pdf?mcid=tGE4TAMA Filed Pro Se In re Hardcore Concrete Inc. Bankr. M.D. Fla. Case No. 26-01392 Chapter 11 Petition filed June 5, 2026 See https://www.pacermonitor.com/view/BDVSQ7Q/Hardcore_Concrete_Inc__flmbke-26-01392__0001.0.pdf?mcid=tGE4TAMA represented by: Buddy D. Ford, Esq. FORD & SEMACH, P.A. E-mail: All@tampaesq.com In re 122 Morris LLC Bankr. E.D.N.Y. Case No. 26-42782 Chapter 11 Petition filed June 5, 2026 See https://www.pacermonitor.com/view/UTIQMPQ/122_Morris_LLC__nyebke-26-42782__0001.0.pdf?mcid=tGE4TAMA Filed Pro Se In re 931 Providence LLC Bankr. E.D.N.Y. Case No. 26-42772 Chapter 11 Petition filed June 5, 2026 See https://www.pacermonitor.com/view/R7IZV4I/931_Providence_LLC__nyebke-26-42772__0001.0.pdf?mcid=tGE4TAMA Filed Pro Se In re 1942 Washburn LLC Bankr. E.D.N.Y. Case No. 26-42773 Chapter 11 Petition filed June 5, 2026 See https://www.pacermonitor.com/view/WA5M2OI/1942_Washburn_LLC__nyebke-26-42773__0001.0.pdf?mcid=tGE4TAMA Filed Pro Se In re 217 Market LLC Bankr. E.D.N.Y. Case No. 26-42770 Chapter 11 Petition filed June 5, 2026 See https://www.pacermonitor.com/view/REWNJ5Q/217_Market_LLC__nyebke-26-42770__0001.0.pdf?mcid=tGE4TAMA Filed Pro Se In re 143 Kyser LLC Bankr. E.D.N.Y. Case No. 26-42771 Chapter 11 Petition filed June 5, 2026 See https://www.pacermonitor.com/view/RIJ36NA/143_Keyser_LLC__nyebke-26-42771__0001.0.pdf?mcid=tGE4TAMA Filed Pro Se In re 124 Crown LLC Bankr. E.D.N.Y. Case No. 26-42774 Chapter 11 Petition filed June 5, 2026 See https://www.pacermonitor.com/view/WV3NRXY/124_Crown_LLC__nyebke-26-42774__0001.0.pdf?mcid=tGE4TAMA Filed Pro Se In re Bright Side Plumbing LLC Bankr. D. Kan. Case No. 26-20849 Chapter 11 Petition filed June 5, 2026 See https://www.pacermonitor.com/view/TZW2HLY/Bright_Side_Plumbing_LLC__ksbke-26-20849__0001.0.pdf?mcid=tGE4TAMA represented by: George J Thomas, Esq. PHILLIPS & THOMAS LLC E-mail: geojthomas@gmail.com In re Ruezga Hauling, Inc. Bankr. N.D. Calif. Case No. 26-50888 Chapter 11 Petition filed June 5, 2026 See https://www.pacermonitor.com/view/MNYPBKY/Ruezga_Hauling_Inc__canbke-26-50888__0001.0.pdf?mcid=tGE4TAMA represented by: Arasto Farsad, Esq. FARSAD LAW OFFICE, P.C. E-mail: af@farsadlaw.com ********* On Thursdays, the TCR delivers a list of recently filed Chapter 11 cases involving less than $1,000,000 in assets and liabilities delivered to nation's bankruptcy courts. The list includes links to freely downloadable images of these small-dollar petitions in Acrobat PDF format. Each Friday's edition of the TCR includes a review about a book of interest to troubled company professionals. All titles are available at your local bookstore or through Amazon.com. Go to http://www.bankrupt.com/books/to order any title today. Monthly Operating Reports are summarized in every Saturday edition of the TCR. The Sunday TCR delivers securitization rating news from the week then-ending. TCR subscribers have free access to our on-line news archive. Point your Web browser to http://TCRresources.bankrupt.com/and use the e-mail address to which your TCR is delivered to login. ********* S U B S C R I P T I O N I N F O R M A T I O N Troubled Company Reporter is a daily newsletter co-published by Bankruptcy Creditors Service, Inc., Fairless Hills, Pennsylvania, USA, and Beard Group, Inc., Philadelphia, Pa., USA. Randy Antoni, Jhonas Dampog, Marites Claro, Joy Agravante, Rousel Elaine Tumanda, Joel Anthony G. Lopez, Psyche A. Castillon, Ivy B. Magdadaro, Carlo Fernandez, Christopher G. Patalinghug, and Peter A. Chapman, Editors. Copyright 2026. All rights reserved. ISSN: 1520-9474. This material is copyrighted and any commercial use, resale or publication in any form (including e-mail forwarding, electronic re-mailing and photocopying) is strictly prohibited without prior written permission of the publishers. Information contained herein is obtained from sources believed to be reliable, but is not guaranteed. The single-user TCR subscription rate is $1,400 for six months or $2,350 for twelve months, delivered via e-mail. Additional e-mail subscriptions for members of the same firm for the term of the initial subscription or balance thereof are $25 each per half-year or $50 annually. For subscription information, contact Peter A. Chapman at 215-945-7000. *** End of Transmission ***