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260623.mbx T R O U B L E D C O M P A N Y R E P O R T E R Tuesday, June 23, 2026, Vol. 30, No. 174 Headlines 137 COLLEGE: Commences Chapter 11 Bankruptcy in Maine 6363 WEST 73RD: Case Summary & Three Unsecured Creditors A NEW START: Gets Final OK to Use Cash Collateral Until Aug. 16 A&A DEMO & EXCAVATING: Seeks to Extend Plan Exclusivity to Sept. 18 ABRAHAM EYE: Case Summary & 18 Unsecured Creditors AIR INDUSTRIES: Amends Merger Deal to Revise Net Indebtedness Terms ALAMO BIOLOGICS: Files Emergency Bid to Use Cash Collateral ALL AMERICAN: Gets Extension to Access Cash Collateral ALLONHILL LLC: SLS's Solvency Defense to Preference Claim Sustained APEX PAVERS: Gets Interim OK to Use Cash Collateral ARAVAK ENERGY: Unsecureds to be Paid in Full with Interest in Plan ARCHDIOCESE OF NEW YORK: Chubb Bad-Faith Claim Challenged ARJEN HOMES: Starts Chapter 7 Bankruptcy in Florida ARTISTIC HOLIDAY: Seeks to Extend Plan Exclusivity to July 22 ARTSTOCK: Unsecured Creditors to Get Share of Income for 7 Years ASCEND ELEMENTS: Settles DOE's Overbilling Claims ASCENT SOLAR: Taylor Ryan Barwick Ceases Ownership Stake ASHFORD HOSPITALITY: Closes $45.3M Sale of San Diego Sheraton Hotel ATARA BIOTHERAPEUTICS: All Four Proposals Passed at Annual Meeting ATARA BIOTHERAPEUTICS: Appoints Brian Cherry as Class I Director ATARA BIOTHERAPEUTICS: Registers 400,000 Shares Under 2024 Plan ATLANTIC & PACIFIC: Court Issues Ruling in McKesson Adversary Case ATLANTIC & PACIFIC: Court Rules on McKesson 503(b)(9) Claim AXE TACTICAL: Unsecureds to Split $50K via Quarerly Payments BARTRAM LOGISTICS: Gets Extension to Access Cash Collateral BEASLEY BROADCAST: Launches $5.2M ATM Offering With Noble Capital BELMONT TRADING: Amends Unsecureds & Priority Tax Claims Pay BIO-KEY INTERNATIONAL: Net Loss Widens To $7.16MM in FY2025 BKR LLC: Has Deal on Cash Collateral Access BLACK SHEEP: Court Extends Cash Collateral Access to July 31 BLOOM HOTELS: Seeks to Extend Plan Exclusivity to Aug. 17 BLUE CLOUDS: Gets Interim OK to Use Cash Collateral BREASHEARS ROOFING: Seeks Cash Collateral Access BREWSTER HEIGHTS: Seeks $50MM DIP Loan from Sandton Capital BRIGHT SIDE: Gets Interim OK to Use Cash Collateral Until July 10 BUILTTOSUIT USA: Tarek Kiem Named Subchapter V Trustee BULLET ENERGY: Gets Interim OK to Use Cash Collateral Until Oct. 30 BUNTING GRAPHICS: Plan Exclusivity Period Extended to Aug. 12 C & S RESTAURANT: Gets Interim OK to Use Cash Collateral CACERES SPECIALIZED: Affiliate Gets OK to Use Cash Collateral CACERES SPECIALIZED: Gets Interim OK to Use Cash Collateral CALIFORNIA RESOURCES: Moody's Rates New Senior Unsecured Notes 'B1' CANTOR GROUP: Seeks to Extend Plan Filing Deadline to Sept. 9 CAROLINA EARTHWERX: Hearing Today on Bid to Use Cash Collateral CEDAR VALLEY: Seeks to Extend Plan Exclusivity to Aug. 11 CIG MM: Unsecureds to be Paid in Full via Quarterly Payments CIRCLE D TRUCK: Seeks Chapter 11 Bankruptcy in Texas CJC SHELL: Gets Extension to Access Cash Collateral CLYDESDALE ACQUISITION: Fitch Affirms 'BB' IDR, Outlook Stable COOL LIFE: Case Summary & 19 Unsecured Creditors CPG RESTAURANT: Unsecureds Will Get 10% of Claims over 5 Years CRAFT CONSTRUCTION: Final Cash Collateral Hearing Set for June 24 CROZER HEALTH: Moves to Wind Down After Receivership Ends CRUX SOLUTIONS: Unsecureds to Get Share of Income for 3 Years CTN HOLDINGS: Ex-CEO Seeks Insurance to Cover Legal Defense Costs CYCURION INC: Says Stock Attack Damages May Top $30 Million D & D VENTURE: Court Extends Cash Collateral Access to July 24 DALTONBRIELLA LLC: Andrew Layden Named Subchapter V Trustee DARE BIOSCIENCE: All Eight Key Proposals Passed at Annual Meeting DAVID JAMES: Gets OK to Retain Reliable Tax as Accountant DEQSER LLC: Plan Contemplates Two Scenarios DYNABODY LLC: Gets Interim OK to Use Cash Collateral Until July 18 ELCORP LLC: Commences Chapter 11 Bankruptcy in Maine ELK GROVE: Fitch Assigns 'BB-' LongTerm IDR, Outlook Positive ELLIOTT & SON: Court Extends Cash Collateral Access to July 17 ENDO INT'L: Court Withdraws Reference in Silva, et al. Case FACILAI LLC: Gets Interim OK to Use Cash Collateral FALLS OF PARRAMATA: Seeks Interim Cash Collateral Access FIRST BRANDS: Premium Guard Finalizes Phase 2 of Asset Acquisition FLOAT ALASKA: Plan Exclusivity Period Extended to Aug. 24 FLORIDA KEYS: Gets Interim OK to Use Cash Collateral FLYWHEEL YALE: Initiates Chapter 11 Bankruptcy in Colorado FTX TRADING: Congress Pushes Back on Bankman-Fried Pardon Effort G3 CONSTRUCTION: Seeks to Extend Plan Exclusivity to Oct. 15 GC HIGHLANDS: Secured Party Sets June 24, 2026 Public Auction GENERATIONS ON 1ST: Creditor Trust & Sale Proceeds to Fund Plan GENESIS HEALTHCARE: June 23 Disclosure Statement Hearing Set GENPREX INC: Stockholders Approve Equity Plan, Reverse Split GILL RANCH: Claims to be Paid from Asset Sale Proceeds GOSSAMER BIO: Closes Note Exchange, $18.95M to Remain Outstanding GRABOYES LLC: Seeks Cash Collateral Access HALL'S GAS: Aaron Cohen Named Subchapter V Trustee HALLMARK FINANCIAL: Enters RSA for Chapter 11 Restructuring HAMM RE PARTNERS: Edward Burr Named Subchapter V Trustee HARTFORD CREATIVE: Posts $557K Income in Q3; Going Concern Remains HAYAT'S KITCHEN: Unsecureds Will Get 93.3% over 60 Months HEALTHCARE FOR ALL: Gets OK to Use Cash Collateral Until July 12 HIGHLAND HOMES: Case Summary & 13 Unsecured Creditors HOLLYWOOD HORIZONS: Secured Party Sets July 8, 2026 Auction HOUSE WINE: Gets Interim OK to Use Cash Collateral HOUSE4U MNGMNT: Charles Persing Named Subchapter V Trustee HUGHES SATELLITE: DISH DBS to Make Delayed Note Payments I-ON DIGITAL: Board Adopts 2026 Equity Incentive Plan INKS & BINDINGS: Mark Sharf Named Subchapter V Trustee INNVENTURE INC: Stockholders Elect 3 Class II Directors INTEGRATED ENDOSCOPY: Seeks to Extend Plan Exclusivity to Sept. 30 INTEGRIS EQUIPMENT: Gets Interim OK to Use Cash Collateral ISUN INC: Clean Royalties Wins Bid to Enforce Sale Order JADE PRESENTS: Mary Sieling Named Subchapter V Trustee JAGUAR HEALTH: Extends Note, Royalty Payments to Oct. 1 JMKA LLC: Court Extends Cash Collateral Access to July 10 JUMP HARLINGEN: Claims to be Paid from Cash Flow & Plan Sponsor KRAKEN OIL: Fitch Affirms 'BB-' LongTerm IDR, Outlook Stable KV TOOLING: Case Summary & 12 Unsecured Creditors LAFAYETTE PHYSICAL: Gets Final OK to Use Cash Collateral LEISURE INVESTMENTS: Ex-CEO Seeks Dismissal of U.S. Bankruptcy Case LEXORA INC: Seeks DIP Loan, Cash Collateral Access LIFE CONNECTIONS: Gets OK to Use Cash Collateral LIFE STRIDE: Gets Final OK to Use Cash Collateral LIGHT BULB: Case Summary & Four Unsecured Creditors LITTLE CREEK: Loses Bid to Stay Dismissal of Bankruptcy Case LITTLE MOUNTAIN: Secured Party Sets June 22, 2026 Public Auction LORENZO'S DOG: Frederic Schwieg Named Subchapter V Trustee M&B TOOLS: Seeks Chapter 7 Bankruptcy in Tennessee MANDS ELECTRIC: Court Extends Cash Collateral Access to July 10 MARELLI AUTOMOTIVE: Faces Lawsuit Over CEO Hiring, Trade Secrets MASA OAK: Gina Klump Named Subchapter V Trustee MLNARIK LAW: Mark Sharf Named Subchapter V Trustee MOUNTAIN PROVINCE: S&P Downgrades LT Issuer Credit Rating to 'SD' MUSCULOSKELETAL ASSOCIATES: Seeks Cash Collateral Access MY VAPE: Gets Extension to Use Cash Collateral NEAR INTELLIGENCE: Court Narrows Claims in Mobilefuse Case NEUROONE MEDICAL: Updates ATM Offering for Up to $13.4 Million NEXTNRG INC: Issues 260,000 Shares to CEO to Settle Note NO WAKE ZONE: Unsecureds Will Get 100% of Claims over 48 Months NY 182 REALTY: Commences Chapter 11 Bankruptcy in New York OFFICE PROPERTIES: Emerges from Ch. 11, Reduces Debt by $714-Mil. OLYMPIA BLOCK: Commences Chapter 11 Bankruptcy in Maine OPERIO GROUP: UCC Public Sale Scheduled for June 29, 2026 OPTIMUM COMMUNICATIONS: Neil Subin and Affiliates Hold 5.4% Stake OPTIMUM COMMUNICATIONS: Nine Directors Elected at Annual Meeting ORIGIN FOOD: Unsecureds Will Get 2.15% of Claims over 60 Months PAI HOLDCO: Moody's Raises CFR to Caa1 & Alters Outlook to Stable PAPPAS PIPING: Claims to be Paid from Available Cash & Income PECO ELECTRIC: Richard Preston Cook Named Subchapter V Trustee PETROS PHARMACEUTICALS: Names Weinstein Accounting Chief POPOVICH ENTERPRISES: Seeks Cash Collateral Access POSH QUARTERS: Seeks Cash Collateral Access PROJECT BOOST: Fitch Affirms 'B' LongTerm IDR, Outlook Stable RAF PROPERTIES: Case Summary & Two Unsecured Creditors RED VENTURES: Moody's Alters Outlook on 'B2' CFR to Positive RM FERRANTE: Seeks Chapter 11 Bankruptcy in Maine ROCKY MOUNTAIN: CohnReznick Out; Rosenberg Rich Baker Named Auditor ROSE WAY: Secured Party Sets July 7, 2026 Public Auction ROYAL ENERGY: UCC Public Sale Scheduled for June 26, 2026 RTM LOGISTICS: Scott Rever Named Subchapter V Trustee RUEZGA HAUILING: Gina Klump Named Subchapter V Trustee SADDI LLC: Unsecured Creditors to Split $250K in Plan SAILORMEN INC: Nears Sale of Florida Restaurants in Chapter 11 SEARLES VALLEY: Files Chapter 11 for Court-Supervised Asset Sale SENIOR HOME: Seeks to Use Cash Collateral Thru Sept 25 SHIV POOJA: Kimberly Ross Clayson Named Subchapter V Trustee SIFI NETWORKS: Seeks $5.3MM DIP Loan from ArcLink SIMPLY INTERIOR: Seeks $3.3MM DIP Loan from Great Rock SKYLARK HOTELS: Gets Interim OK to Use Cash Collateral Until July 2 SLEEP NUMBER: Court Stays "Evans" Class Action Lawsuit SLEEP NUMBER: Davis Polk Serves as Adviser in Chapter 11 Cases SLEEP NUMBER: Files For Chapter 11 Bankruptcy Protection SLEEP NUMBER: Initiates Sale Process to Combine with Sleep Country STARDOM CONSTRUCTION: Joseph Moore Named Subchapter V Trustee SUNDAE DONUTS: Initiates Chapter 7 Bankruptcy in New York SUPERIOR FAMILY: Claims to be Paid from Property Refinance THRILL INTERMEDIATE: MTV Reaches $150MM Bankruptcy Agreement TM36 LLC: IAG Loses Bid to Dismiss Stoploss, et al. Adversary Case TODD CREEK: Andrew Johnson's Appointment as Chapter 11 Trustee OK'd TROVE BREWING: Gets OK to Use $28K in Cash Collateral TW ELECTRIC: Court Extends Cash Collateral Access to July 14 ULTINON MOTION: Disclosure Statement Wins Conditional Approval UMZU LLC: Hearing Today on Bid to Use Cash Collateral UNIVERSAL WIRELESS: Commences Chapter 7 Bankruptcy in Texas VIOLET'S PUPPIES: Gets Final OK to Use Cash Collateral VIVAKOR INC: Noteholders Convert Debt Into 2.44 Million Shares WALLACE FINANCE: UCC Public Sale Secured for August 17, 2026 WESTPORT FUEL: Cespira, Volvo Sign Hydrogen Engine Deal WORKFORCE RESOURCE: M. Douglas Flahaut Named Subchapter V Trustee WRENCHERS LLC: Seeks Cash Collateral Access [] ATTOM Reports Foreclosure Filings Down in May, Up Yearly [] David Pankin Urges Relief as Bankruptcy Filings Climb in 2026 ********* 137 COLLEGE: Commences Chapter 11 Bankruptcy in Maine ----------------------------------------------------- On June 17, 2026, 137 College LLC filed for Chapter 11 protection in the U.S. Bankruptcy Court for the District of Maine. According to court filings, the Debtor reports between $10 million and $50 million in debt owed to approximately 1–49 creditors. About 137 College LLC 137 College LLC is a real estate holding and investment company engaged in the ownership, management, and development of commercial and residential property assets. 137 College LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-20177) on June 17, 2026. In its petition, the Debtor reported estimated assets of $1 million–$10 million and estimated liabilities of $10 million–$50 million. Honorable Bankruptcy Judge Peter G. Cary handles the case. The Debtor is represented by D. Sam Anderson, Esq. of Bernstein Shur Sawyer & Nelson. 6363 WEST 73RD: Case Summary & Three Unsecured Creditors -------------------------------------------------------- Debtor: 6363 West 73rd Street, LLC 6363 West 73rd Street Bedford Park, IL 60638 Business Description: 6363 West 73rd Street, LLC is a single-asset real estate entity that owns a commercial property at 6363 West 73rd Street in Bedford Park, Illinois. Chapter 11 Petition Date: June 16, 2026 Court: United States Bankruptcy Court Northern District of Illinois Case No.: 26-10122 Judge: Hon. Timothy A Barnes Debtor's Counsel: Julia Jensen Smolka, Esq. ROBBINS DIMONTE 216 W. Higgins Road Park Ridge, IL 60068 Tel: (847) 698-9600 Fax: (847) 698-9623 E-mail: jsmolka@robbinsdimonte.com Total Assets: $10,013,084 Total Liabilities: $6,191,127 The petition was signed by Viktor Kotsyulym as managing member. A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/TSJMUTA/6363_West_73rd_Street_LLC__ilnbke-26-10122__0001.0.pdf?mcid=tGE4TAMA List of Debtor's Three Unsecured Creditors: Entity Nature of Claim Claim Amount 1. Northwater Management, Inc. Vendor $0 2456 Emerald Ct. Woodridge, IL 60517 2. Safety First, Inc. Vendor $0 616 Main Street Saint Charles, IL 60174 3. Vemali, Inc. Vendor $0 7937 S. Harlem Avenue Burbank, IL 60459 A NEW START: Gets Final OK to Use Cash Collateral Until Aug. 16 --------------------------------------------------------------- A New Start Primary Care, LLC and A New Start II, LLC received final approval from the U.S. Bankruptcy Court for the Western District of Kentucky, Owensboro Division, to use cash collateral. Under the final order, the Debtors are authorized to use cash collateral from the petition date through Aug. 16 or until a Chapter 11 plan is confirmed. Cash collateral must be used only for expenses outlined in the approved budgets, with total expenditures permitted to exceed budgeted amounts by no more than 10%. Any spending beyond that threshold requires either court approval or written consent from Farmers Bank & Trust Company. Farmers Bank & Trust holds a lien on the Debtors' cash collateral pursuant to pre-petition security interests. As adequate protection, Farmers Bank & Trust Company will receive replacement liens on the Debtors' post-petition property, with the same priority, validity and extent as its pre-petition liens. The replacement liens are deemed automatically perfected as of the petition date and do not apply to Chapter 5 avoidance actions and related bankruptcy causes of action. In addition, the secured creditor will continue to receive payments from the Debtors as provided in the budgets. The final order provides for a carveout for professional fees and Subchapter V trustee fees, with approved amounts to be deposited into escrow accounts pending court approval of compensation requests. The debtors may amend their budgets by agreement with Farmers Bank & Trust Company or, absent agreement, through a court filing process subject to a 10-day objection period. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/oPD72 from PacerMonitor.com. About A New Start Primary Care LLC Based in Central City, Kentucky, A New Start Primary Care, LLC and A New Start II, LLC operate affiliated outpatient healthcare providers focused on substance use disorder treatment and behavioral health care. The organizations provide medication-assisted treatment, counseling and case management for opioid use disorder in an outpatient clinical setting. The Debtors sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Ky. Lead Case No. 26-40292) on April 17, 2026. Timothy Dukes, member, president and chief executive officer, signed the petitions. At the time of the filing, A New Start Primary Care disclosed up to $50,000 in assets and $1 million to $10 million in liabilities while A New Start II listed $1 million to $10 million in both assets and liabilities. Judge Charles R. Merrill presides over the case. Heather M. Thacker, Esq., at Gartland Thacker DelCotto, PLLC represents the Debtors as legal counsel. A&A DEMO & EXCAVATING: Seeks to Extend Plan Exclusivity to Sept. 18 ------------------------------------------------------------------- A&A Demo & Excavating, Inc. asked the U.S. Bankruptcy Court for the Eastern District of Kentucky to extend its exclusivity period to file a disclosure statement and plan of reorganization to Sept. 18, 2026. The Debtor is a Kentucky corporation which was incorporated September 2, 2022. The Debtor explains that the company has begun its review of the claims register and believes it would be aided by additional time to formulate a plan. Specifically, the Debtor will be amended several Form 941 payroll tax returns and believes will reduce the amount of the Internal Revenue Service's Claim. The Debtor submits that contemporaneous with this Motion it is submitting a Motion to Establish a Claims Bar Date. The requested Bar Date for non-governmental claims is August 14, 2026, and the Government Bar Date is September 7, 2026. The Debtor claims that it has generally paid its post-petition obligations timely as they come due, including post-petition tax obligations and adequate protection payments. The Debtor has filed its monthly operating reports timely. The Debtor asserts that it is not seeking the extension as a tactical maneuver, to delay administration of the case, or to pressure creditors to accept an unfair result. The Debtor has worked to stabilize its workflow early in the case and believes it is on a track for growth of the core of its enterprise. The Debtor is working in good faith towards presenting a viable plan, and believes it will be able to do so with the aid of additional time. The Debtor further asserts that no party in interest will be unfairly prejudiced by the requested additional time. About A&A Demo & Excavating A&A Demo & Excavating, Inc., sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Ky. Case No. 26-20194) with $1 million 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 ABRAHAM EYE: Case Summary & 18 Unsecured Creditors -------------------------------------------------- Debtor: Abraham Eye Associates, LLC d/b/a Aegis Eyecare 795 E. Lancaster Avenue Suite 3B Villanova, PA 19085 Business Description: Abraham Eye Associates, LLC, doing business as Aegis Eyecare, provides eye care services from locations in Villanova and Newtown Square, Pennsylvania. Founded by Dr. Mark J. Abraham in 2014, the practice offers eye exams, contact lens services, myopia management, emergency eye care, dry eye treatment, eye disease management, aesthetic services, and eyewear. Its disease management services include care for conditions such as glaucoma, cataracts, diabetic retinopathy, keratoconus, binocular vision dysfunction, low vision, and computer vision syndrome. Chapter 11 Petition Date: June 16, 2026 Court: United States Bankruptcy Court Eastern District Of Pennsylvania Case No.: 26-12591 Judge: Hon. Patricia M Mayer Debtor's Counsel: David B. Smith, Esq. SMITH KANE HOLMAN, LLC 112 Moores Road Suite 300 Malvern, PA 19355 Tel: 610-407-7215 Fax: 610-407-7218 E-mail: dsmith@skhlaw.com Estimated Assets: $500,000 to $1 million Estimated Liabilities: $1 million to $10 million The petition was signed by Mark Abraham, O.D. as managing member. A full-text copy of the petition, which includes a list of the Debtor's 18 unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/ER7I3WI/Abraham_Eye_Associates_LLC__paebke-26-12591__0001.0.pdf?mcid=tGE4TAMA AIR INDUSTRIES: Amends Merger Deal to Revise Net Indebtedness Terms ------------------------------------------------------------------- Air Industries Group announced in a regulatory filing that it entered into an Amendment to the Agreement and Plan of Merger, dated as of February 16, 2026, among Tenax Aerospace Acquisition, LLC, AIR and Transitory Air Sub LLC. The Amendment amended the definition of AIR Net Indebtedness. "AIR Net Indebtedness" means, as of any date of determination, as determined in accordance with the AIR Accounting Principles: (a) the aggregate amount of Indebtedness of AIR and its Subsidiaries, plus, to the extent not already included in Indebtedness: (i) the aggregate amount of accounts payable and accrued expenses, but excluding accruals for Expenses, in excess of $6,500,000, (ii) the aggregate amount of deferred gain on sale, (iii) the aggregate amount of customer deposits and (iv) the aggregate amount of any reserves taken for unprofitable F-35 revenues not included in accrued expenses; minus (b) the AIR Expense Amount; minus (c) the AIR Option Exercise Amount; minus (d) the amount, if any, by which the aggregate amount of any work-in-process inventory of part number 2343 produced by Air Industries Machining, Corp., a wholly-owned Subsidiary of AIR, exceeds $3,284,976; minus (e) the aggregate amount of AIR Cash; plus (f) the amount, if any, by which the aggregate amount of accounts receivable related to sales of part number 2343 produced by AIM is less than $3,105,364; plus (g) the AIR Securities Issuance Proceeds Amount; plus (h) the AIR Award Issuance Amount. The parties' purpose in executing the Amendment is to mitigate the impact of the Advance and the Promissory Note on the calculation of AIR Net Indebtedness and thereby the number of shares of common stock of AIR to be issued to the members of Tenax pursuant to the Merger Agreement. Air Industries Machining Corp., a wholly owned subsidiary of AIR, received a prepayment of $1,971,070 on June 2, 2026, in respect of product being manufactured and anticipated to be delivered to one of AIM's customers. Prior to receipt of the Advance, AIM and the Customer agreed to a form of promissory note and AIM intends to abide by the provisions of such Promissory Note with respect to the application of the proceeds and repayment of the Advance. The Advance is to be used solely to purchase necessary supplies, manufacture the product and deliver the product to the Customer's facility in the United States. The Advance is non-interest bearing, other than upon the occurrence of an Event of Default. The Advance is to be repaid by AIM to the Customer no later than November 30, 2026, and the Customer shall have the right to set off amounts due in respect of the Advance against amounts that the Customer would owe in respect of product anticipated to be delivered in accordance with an agreed-upon schedule. Full text copies of the Amendment to Agreement and Plan of Merger and the Form of Promissory are available at https://tinyurl.com/469msvn4 and https://tinyurl.com/yp29hryt, respectively. About Air Industries Headquartered in Bay Shore, New York, Air Industries Group manufactures precision components and assemblies for aerospace and defense contractors. The company supplies landing gear, flight controls, engine mounts and other parts used in military aircraft, commercial aircraft and ground turbines. Founded in 1941 and public since 2005, Air Industries serves a customer base that includes the U.S. government, international governments and commercial airlines. It operates two U.S. manufacturing centers and employs more than 160 people. CBIZ CPAs P.C. issued a going-concern qualification in its March 27, 2026, audit report, citing the scheduled Sept. 30, 2026, maturity of the Current Credit Facility and the Oct. 1, 2026, maturity of Related Party Subordinated Notes. The auditor also pointed to the lender's control over the company's cash receipts, saying the arrangement could leave Air Industries without funds to keep operating if lending were stopped. As of March 31, 2026, the Company had $59.22 million in total assets, $40.07 million in total liabilities, and $19.15 million in total stockholders' equity. ALAMO BIOLOGICS: Files Emergency Bid to Use Cash Collateral ----------------------------------------------------------- Alamo Biologics LLC asks the U.S. Bankruptcy Court for the Western District of Texas, San Antonio Division, for authority to use cash collateral and provide adequate protection. Three creditors hold blanket security interests in substantially all of the company's assets, including its cash and accounts receivable. These secured creditors, listed in order of priority, are South State Bank (formerly Independent Bank), RDM Capital LLC, and Chedr LLC. The Debtor states that South State Bank is owed approximately $5.07 million. At the time of the bankruptcy filing, Alamo Biologics had approximately $218,379 in its bank accounts and $3.09 million in accounts receivable. Because the combined value of these assets is less than the amount owed to South State Bank alone, the filing asserts that South State Bank is undersecured, as are the junior secured creditors RDM Capital and Chedr. The Debtor requests authority to use the secured creditors' cash collateral to pay payroll and other operating expenses outlined in the budget. The Debtor argues that it lacks sufficient unencumbered cash and has been unable to obtain adequate post-petition financing from other sources. As a result, access to cash collateral is presented as necessary to maintain operations and preserve the business while the Chapter 11 case proceeds. A copy of the motion is available at https://urlcurt.com/u?l=jibsP2 from PacerMonitor.com. About Alamo Biologics LLC Alamo Biologics LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Tex. Case No. 26-51549-alt) on June 3, 2026. In the petition signed by Pamela Sloan, chief financial officer, the Debtor disclosed up to $10 million in both assets and liabilities. Judge Aubrey L. Thomas oversees the case. Morris E. "Trey" White, III, Esq., at Villa & White LLP, represents the Debtor as legal counsel. ALL AMERICAN: Gets Extension to Access Cash Collateral ------------------------------------------------------ All American Worldwide, Inc. received third interim approval from the U.S. Bankruptcy Court for the Northern District of Texas, Dallas Division, to use cash collateral. Under the interim order, the Debtor is authorized to use cash collateral to pay operating expenses in accordance with its 13-week cash flow budget, which projects total operational expenses of $20,257.13. The Debtor said it needs immediate access to its cash, which is claimed as collateral by Frost Bank, to sustain operations. Frost Bank holds a secured claim of $766,326 backed by a broad lien on nearly all of the Debtor's assets, including cash, receivables, inventory, and equipment. As protection for any diminution in the value of its collateral, Frost Bank will be granted replacement liens on the Debtor's post-petition cash and accounts receivable. These replacement liens do not apply to Chapter 5 avoidance actions. The Debtor's authority to use cash collateral will terminate upon its removal as debtor-in-possession; conversion of its Chapter 11 case to one under Chapter 7; or unauthorized use of cash collateral. The order preserves all parties' rights to challenge the validity, extent, priority, or enforceability of liens and claims, and specifically reserves the Debtor's right to contest Frost Bank’s secured status. It also establishes a carve-out for U.S. Trustee fees, professional fees, and Subchapter V trustee fees. The order is available at https://shorturl.at/UTt5c from PacerMonitor.com. The final hearing is set for July 16. The deadline for filing objections is on July 13. Frost Bank, as secured creditor, is represented by: Joshua L. Shepherd, Esq. Ryan Anderson, Esq. Iacuone McAllister Potter PLLC Energy Square One 4925 Greenville Ave., Suite 1112 Dallas, TX 75206 Telephone: (214) 432-6744 shepherd@imcplaw.com anderson@imcplaw.com About All American Worldwide Inc. All American Worldwide, Inc. is a Dallas TX-based commercial moving, warehousing, and logistics provider. All American Worldwide filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. N.D. Texas Case No. 26-31739) on April 27, 2026. In the petition signed by Jenniver Armistead, majority shareholder, the Debtor disclosed up to $50,000 in assets and up to $1 million in liabilities. Judge Stacey G. Jernigan oversees the case. Brandon Tittle, Esq., at Tittle Santiago, PLLC, represents the Debtor as legal counsel. Katharine Battaia Clark of Thompson Coburn, LLP serves as Subchapter V trustee for the Debtor. ALLONHILL LLC: SLS's Solvency Defense to Preference Claim Sustained ------------------------------------------------------------------- In the appeal styled ALLONHILL, LLC, Appellee v. STEWART LENDER SERVICES, INC., Appellant, No. 25-1810 (3rd Cir.), Judges Patty Shwartz, Stephanos Bibas and Peter J. Phipps of the U.S. Court of Appeals for the Third Circuit will reverse the insolvency ruling of the U.S. District Court for the District of Delaware with respect to Allonhill, LLC's preference claim and remand. Allonhill was hired by Aurora Bank, FSB to review its foreclosure practices. The contract between Allonhill and Aurora included a $2 million "Limitation on Liability" ("Liability Cap") for claims arising out of their agreement. In 2012, Aurora learned that Allonhill had failed to disclose significant conflicts of interest and ended their relationship. Allonhill then sued Aurora in Colorado state court for breach of contract for failure to pay Allonhill's outstanding invoices, and Aurora countersued for the return of the $24 million it had already paid, alleging, among other things, that Allonhill had defrauded Aurora and breached the parties' contract by failing to disclose conflicts of interest (the "Aurora Claim"). A bench trial was completed in 2013. While the trial was ongoing that same year, SLS purchased almost all of Allonhill's assets, including all of Allonhill's accounts receivable, pursuant to an Asset Purchase Agreement ("APA"). The APA excluded any assets or liabilities that were the subject of the then-ongoing litigation between Allonhill and Aurora. In accordance with the APA, Allonhill transferred to SLS approximately $6.6 million ("Transfers") over three different dates between January 13, 2014, and February 18, 2014 ("Transfer Dates"). Less than one month after the last transfer, the trial court: (1) found that Allonhill breached its contract and committed fraud, and (2) ordered Allonhill to pay Aurora almost $25.9 million in damages ("Initial Aurora Judgment"). Allonhill thereafter appealed the judgment and filed for bankruptcy. A bankruptcy confirmation plan was entered in 2015. While the bankruptcy was pending, the state appellate court vacated the Initial Aurora Judgment, held that the Liability Cap limited Aurora's damages to $2 million, and on remand the trial court entered a judgment in that amount in favor of Aurora ("Final Aurora Judgment"). Aurora appealed, but in 2018, the parties settled Aurora's claims for $2.05 million ("Settlement Amount"). During the bankruptcy, Allonhill filed an adversary proceeding and asserted the Preference Claim against against Stewart Lender Services ("SLS"), alleging that the Transfers were improper preferences under Sec. 547(b). SLS asserted the defense that, because Allonhill was solvent on the Transfer Dates, the Transfers were not improper preferences. In support of its solvency defense, SLS introduced expert testimony by a forensic accountant and corporate restructuring advisor who opined that Allonhill was solvent on the Transfer Dates based on an examination of Allonhill's post-sale balance sheet and related records. Critical to this conclusion, the expert determined that the Aurora Claim was worth $2.05 million on the Transfer Dates based on (1) the $2.05 million Settlement Amount, (2) the $2 million Liability Cap, and (3) the fact that Allonhill had recorded the Aurora Claim on its December 31, 2013 balance sheet (before the Transfer Dates) at $2 million. The expert opined that the Initial Aurora Judgment was an errant judgment that doesn't affect what the claim really was worth as of the measurement date. Allonhill did not present a solvency expert and instead argued that the Initial Aurora Judgment was the proper valuation for the Aurora Claim on the Transfer Dates because it was a contemporaneous judgment that was close in time to the transfers at issue. The case proceeded to trial, and the Bankruptcy Court denied Allonhill's Preference Claim because it found that the Aurora Claim should be valued at $2.05 million based on the expert's valuation and, as a result, Allonhill was solvent on the Transfer Dates, so the Transfers were proper. Allonhill appealed, and the District Court concluded that Allonhill was insolvent on the Transfer Dates because the Aurora Claim should be valued contemporaneously based on the Initial Aurora Judgment of $25.9 million. The District Court ultimately concluded that Allonhill's contemporaneous method was based on evidence available near the time of the Transfers and was the more appropriate method to value the Aurora Claim under the circumstances due to its concern about the consequences of upsetting settled expectations of the parties who had ordered their affairs on the understanding that Allonhill was insolvent. In this case, the Bankruptcy Court's finding that $2.05 million is the proper valuation is supported by the record. SLS introduced expert testimony that the Auora claim was worth $2.05 million based on: (1) the $2.05 million Settlement Amount; (2) the $2 million liability cap in Allonhill's contract with Aurora; and (3) the fact that Allonhill valued the claim at $2 million on its December 31, 2013 balance sheet, which was prepared before the Transfer Dates. Together, these facts provided a basis to conclude that Allonhill was solvent on the Transfer Dates. The burden then shifted back to Allonhill to show it was insolvent. It, however, presented no evidence beyond the state trial court's $25.9 million judgment that was reversed on appeal. Thus, the Bankruptcy Court had a basis to find that Allonhill did not satisfy its burden of proof and thus the Court did not clearly err in concluding both that the value of the disputed claim was $2.05 million and that Allonhill was solvent when the transfers were made. Therefore, the panel concludes the Bankruptcy Court properly sustained SLS's solvency defense to the Preference Claim. A copy of the Court's Opinion dated June 15, 2026, is available at https://urlcurt.com/u?l=UnAjqx from PacerMonitor.com. About Allonhill LLC Allonhill LLC, a professional services firm based in Denver, Colorado, that previously provided loan due diligence and credit risk management services for institutions that invest in, sell, securitize or service mortgage loans, sought protection under Chapter 11 of the Bankruptcy Code on March 26, 2014. The case is In re Allonhill, LLC, Case No. 14-bk-10663 (Bankr. D. Del.). The Debtor's General Counsel is HOGAN LOVELLS US LLP. The Debtor's Local Counsel is Neil B. Glassman, Esq., Justin R. Alberto, Esq., and Evan T. Miller, Esq., at BAYARD, P.A., in Wilmington, Delaware. Upshot Services LLC serves as the Debtor's Claims and Noticing Agent. The Debtor disclosed $19,205,062 in assets and $32,918,294 in liabilities as of the Chapter 11 filing. Roberta A. DeAngelis, U.S. Trustee for Region 3, notified the Bankruptcy Court that she was unable to appoint an official committee of unsecured creditors in the case of Allonhill, LLC. The U.S. Trustee explained that there was insufficient response to the communication/contact for service on the committee. APEX PAVERS: Gets Interim OK to Use Cash Collateral --------------------------------------------------- The U.S. Bankruptcy Court for the Southern District of Florida, West Palm Beach Division, issued an interim order authorizing Apex Pavers, Inc. to use cash collateral. Under the interim order, the Debtor is authorized to use cash collateral to pay court-approved expenses, U.S. Trustee quarterly fees, and necessary operating expenses outlined in the budget, with flexibility of up to 10% per line item. This authorization remains in effect until further order of the court. As adequate protection, secured creditors will receive a perfected post-petition lien against cash collateral to the same extent and with the same validity and priority as the prepetition lien, without the need to file or execute any document as may otherwise be required under applicable non bankruptcy law. The debtor must also maintain insurance coverage on collateral in accordance with the applicable loan and security agreements. A further hearing is scheduled for August 12. The order expressly preserves the rights of creditors and other parties to seek modified adequate protection, challenge the use of cash collateral, or dispute the validity, extent, or amount of any asserted liens or secured claims. A copy of the court's order and the Debtor's budget is available at https://tinyurl.com/3xf3nzfp from PacerMonitor.com. About Apex Pavers Inc. Apex Pavers, Inc. is a Stuart, Florida-based company that installs and renovates pools and designs and installs paver driveways, patios and walkways. The company maintains a showroom and uses an in-house team for design, construction and project execution, serving residential and commercial clients across South Florida. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 26-13373) on March 19, 2026. In the petition signed by Ryan Paul Figman, president, the Debtor disclosed $5,182,607 in total assets and $4,665,033 in total liabilities. Judge Erik P. Kimball oversees the case. Craig I. Kelley, Esq., at Kelley Kaplan Delaney & Eller, PLLC, represents the Debtor as legal counsel. ARAVAK ENERGY: Unsecureds to be Paid in Full with Interest in Plan ------------------------------------------------------------------ Aravak Energy, LLC filed with the U.S. Bankruptcy Court for the Northern District of Ohio a Disclosure Statement describing Plan of Reorganization dated June 11, 2026. The Debtor was formed in 2024 for the purpose of acquiring real property located in Columbiana and Jefferson counties to develop a data center and power plant. The Debtor was a party to a certain asset purchase agreement with Altigen Omega, LLC (the "Purchaser") for the sale of the Debtor's real property for over $12,500,000. The Purchaser has been unable or unwilling to close the transaction and commenced litigation in the Columbiana County Court of Common Pleas in the case styled as Altigen Omega, LLC v. Aravak, Energy, LLC, et al. (the "Lawsuit"). The Lawsuit is presently pending. During the postpetition period, the Debtor continued to operate and manage its business and work toward developing the property or enter into an agreement with another party capable of developing the data center and power plant. On the Confirmation Date, all property of the Estate will vest in the Debtor and its transferees, free and clear of all security interests, liens, encumbrances, charges and/or interests, except as specifically set forth in the Plan. Class B consists of All Allowed Claims that are General Unsecured Claims. Each holder of a Class B Allowed Claim shall receive in full satisfaction of its Allowed Class B Claim Distributable Cash from the Debtor in the full amount of its Allowed Claim together with interest at the Prime Rate in effect on the Confirmation Date commencing on the Petition Date. The payment by the Debtor to holders of Allowed Class B Claims the later of: (i) December 31, 2027; or (ii) within thirty days of the allowance of such Claim by a Final Order; or (ii) within thirty days of the allowance of such Claim by a Final Order. Estimated Total Claim Amount: $200,000. The holders of Allowed Interests in Class C shall retain their Interest. Though Restructuring Transactions, the Debtor will liquidate its remining assets to pay its creditors. The Debtor has entered into a land contribution agreement on the following terms: (i) the Debtor will convey its real property to Aravak Solar, LLC, (name change to Zuharis, LLC was filed with FL Secretary of State) in exchange for full payment of the debt owed to CS Investments, LLC, payment of the Debtor's chapter 11 administrative expenses, and a 20% ownership in that entity. The Debtor will pay the debts owed to Class B from the member distributions from Aravak Solar, LLC (the "Distributable Cash"). The first $5,000,000 of the Distributable Cash, exclusive of the payment to CS Investments, LLC. A full-text copy of the Disclosure Statement dated June 11, 2026 is available at https://urlcurt.com/u?l=JUWQ0L from PacerMonitor.com at no charge. Counsel to the Debtor: Anthony J. DeGirolamo, Esq. 3930 Fulton Dr., Ste. 100B Canton, OH 44718 Telephone: (330) 305-9700 Facsimile: (330) 305-9713 Email: tony@ajdlaw7-11.com About Aravak Energy LLC Aravak Energy, LLC owns and manages real estate assets in Columbiana and Jefferson counties in Ohio valued at about $72 million. Aravak Energy, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ohio Case No. 25-41396) on Nov. 14, 2025. In the petition signed by Kautilya Sharma, manager, the Debtor disclosed $72,000,117 in total assets and $17,210,477 in total liabilities. Honorable Bankruptcy Judge Tiiara Patton handles the case. Anthony J. DeGirolamo, Esq. serves as the Debtor's counsel. ARCHDIOCESE OF NEW YORK: Chubb Bad-Faith Claim Challenged --------------------------------------------------------- Natalie Weger of Bloomberg Law reports that the New York Archdiocese is seeking to strike portions of Chubb's claims in a lawsuit over insurance coverage for sexual abuse settlements and judgments. In a filing Wednesday, June 17, 2026, the archdiocese argued that the insurer's allegations exceed the limits of what New York law permits. Chubb has accused the archdiocese of colluding in bad faith by withholding information regarding underlying abuse cases and by orchestrating a public campaign aimed at influencing the insurer. The company argues those actions interfered with its contractual rights and claims-handling obligations, the report states. The archdiocese countered that Chubb's so-called "reverse bad faith" theory lacks legal support. Church lawyers argued that New York courts have never recognized such a claim and that the insurer is improperly attempting to expand state law through litigation. The filing asks the court to dismiss the challenged allegations while preserving the remaining coverage dispute. The parties continue to fight over who should bear the financial burden associated with hundreds of sexual abuse claims against the church, according to Bloomberg. About New York Archdiocese The Archdiocese of New York is an ecclesiastical district encompassing 296 parishes in the boroughs of Manhattan, the Bronx, and Staten Island in New York City and the counties of Dutchess, Orange, Putnam, Rockland, Sullivan, Ulster, and Westchester. Sixth of New York's eight dioceses have filed for Chapter 11 bankruptcy after dealing with lawsuits dating to when New York temporarily suspended the statute of limitations to give victims of childhood abuse the ability to pursue even decades-old allegations against clergy members, teachers, Boy Scout leaders and others. New York dioceses that have sought bankruptcy are Ogdensburg, Syracuse, Buffalo, Rochester, Albany and Rockville Centre on Long Island. ARJEN HOMES: Starts Chapter 7 Bankruptcy in Florida --------------------------------------------------- On June 5, 2026, Arjen Homes LLC filed for Chapter 7 protection in the U.S. Bankruptcy Court for the Middle District of Florida. According to court filings, the debtor reports between $100,001 and $1,000,000 in liabilities owed to 1–49 creditors. About Arjen Homes LLC Arjen Homes LLC is a Florida-based company engaged in residential housing-related activities. The firm sought relief under Chapter 7 of the U.S. Bankruptcy Code (Bankruptcy Case No. 26-04865) on June 5, 2026. In its petition, the debtor listed estimated assets between $0 and $100,000 and estimated liabilities ranging from $100,001 to $1,000,000. Honorable Bankruptcy Judge Caryl E. Delano is presiding over the case. The debtor is represented by Jorge O. Acosta, Esq. ARTISTIC HOLIDAY: Seeks to Extend Plan Exclusivity to July 22 ------------------------------------------------------------- Artistic Holiday Designs, LLC and Holiday Creations Pro, Inc. asked the U.S. Bankruptcy Court for the Middle District of Florida to extend their exclusivity periods to file a plan of reorganization and obtain acceptance thereof to July 22 and Aug. 21, 2026, respectively. The Debtors explain that they have been actively working with the Committee and the Mediator toward a mutually agreeable settlement but require more time to finalize details of the settlement. The Debtors claim that they are committed to discussing plan treatment and delivering a workable plan to the Committee and the Mediator prior to June 22, due to summer holiday schedules. The Debtors are substantially certain it will file a confirmable Plan before the proposed deadline of July 22, 2026 and does not anticipate a further extension of this deadline. Counsel to the Debtors: DAL LAGO LAW Michael R. Del Lago, Esq. Christian Garrett Haman, Esq. Jennifer M. Duffy, Esq. 999 Vanderbilt Beach Road Suite 200 Naples, FL 34108 Telephone: (239) 571-6877 E-mail: mike@dallagolaw.com E-mail: chaman@dallagolaw.com E-mail: jduffy@dallagolaw.com About Artistic Holiday Designs Artistic Holiday Designs, LLC filed a Chapter 11 petition (Bankr. M.D. Fla. Case No. 25-00153) on January 29, 2025. listing up to $10 million in assets and up to $50 million in liabilities. Derek Norwood, managing member, signed the petition. Judge Caryl E. Delano oversees the case. Michael Dal Lago, Esq., at Dal Lago Law, represents the Debtor as legal counsel. MEP Capital Holdings III, L.P., as secured creditor, is represented by: Luis E. Rivera II, Esq. GrayRobinson, P.A. 1404 Dean Street, Suite 300 Fort Myers, Florida 33901 Phone: 239.254.8460 luis.rivera@gray-robinson.com ARTSTOCK: Unsecured Creditors to Get Share of Income for 7 Years ---------------------------------------------------------------- Artstock d/b/a Artist & Craftsman Supply filed with the U.S. Bankruptcy Court for the District of Maine an Amended Disclosure Statement with respect to Amended Plan of Reorganization dated June 9, 2026. The Debtor, operating under the trade name Artist & Craftsman Supply, was founded in 1985 in Portland, Maine, as an independent retailer dedicated to providing high-quality fine art materials to local artists and creative communities. Despite its longstanding presence, the Debtor faced mounting economic pressures in the retail sector. When it became clear that the Debtor would struggle to continue without a successful chapter 11 reorganization, on December 21, 2025 (the "Petition Date"), the Debtor filed a voluntary petition for relief under chapter 11 of the Bankruptcy Code. Since the Petition Date, the Debtor has remained in possession of its Assets and managed its business as a debtor-in-possession under §§ 1107 and 1108 of the Bankruptcy Code. As of the Petition Date, the Debtor operated eighteen stores around the country. Since then, the Debtor has closed (or is in the processing of closing) four stores and, after completion of the closures, intends to continue to operate the remaining fourteen stores. More specifically, based on the Debtor's operational and financial assessment, the Debtor's reorganization strategy in the Chapter 11 Case encompasses a deliberate resizing of the business to align the Debtor’s cost structure with current revenue levels and to support a sustainable postconfirmation operating model. Pursuant to the Plan, the Debtor proposes to effectuate a reorganization and to complete a balance sheet restructuring that will aid in the Debtor's viability. On the Effective Date, except as otherwise set forth in the Plan, the Estate's interest in all Assets shall vest in the Debtor free and clear of any and all Claims, Interests, or defenses with respect to any Claims, whether known or unknown, asserted or unasserted, or contingent or fixed. Allowed Claims shall receive certain distributions discussed in the Plan and summarized in this Disclosure Statement. Class 7 consists of General Unsecured Claims that are not Unclassified Claims or provided for under any other Class contained in the Plan, and Class 7 Claims shall include any deficiency Claim arising from operation of Section 506 of the Bankruptcy Code. For avoidance of doubt, Class 7 Claims shall include, but not be limited to, any and all Claims of: (a) Adlerstein; (b) Art Supply Enterprises (after accounting for the Art Supply Enterprises Collateral); and (c) those set forth in the Schedules or Filed in a timely proof of Claim as General Unsecured Claims. Class 7 Claims are impaired. In full and final satisfaction of all Allowed Unsecured Claims in Class 7, and regardless of whether Class 7 votes to accept or reject the Plan, the Debtor shall make pro rata payments of Projected Net Disposable Income to Holders of Allowed Class 7 Claims for a period of seven years (the "Class 7 Payment Period"), with the payments to made in accordance with the following schedule: (a) on or before January 31, 2027; and (b) on or before each successive January 31st until the making of the 7th payment hereunder. With the 7th payment hereunder, the Debtor shall pay any remaining amounts outstanding to the Class 7 Claimants. The payments during the Class 7 Payment Period shall equal: (i) during the first five years after the Effective Date of the Plan, or until Class 1 Claims are paid in full, whichever occurs first, eighty percent the amount of Projected Net Disposable Income (the Net Disposable Income reflected on Exhibit A, as it may adjust premised on actual performance of the Debtor and after accounting for a reserve to fund operating expenses in the ordinary course, the "Net Disposable Income" or "NDI"); and (ii) during the sixth and seventh years after the Effective Date of the Plan, or after the Class 1 Claims are paid in full, whichever occurs first, one hundred percent of the NDI. At any time during the Class 7 Payment Period, the Debtor shall be entitled to pay the remaining amount of the Class 7 Claims. The Class 7 Claims shall not accrue interest. Prior to the Petition Date, Art Supply Enterprises and Adlerstein each entered into Subordination and Intercreditor Agreements with Cambridge Savings pursuant to which Art Supply Enterprises and Adlerstein agreed to direct any payments they receive to Cambridge Savings until such time as the obligations of the Debtor to Cambridge Savings are fully satisfied (the "Subordination Agreements"). In accordance with the terms of the Subordination Agreements, any payments owed to Art Supply Enterprises and/or Adlerstein under the terms of the Plan shall be paid directly to Cambridge Savings in accordance with the terms of the Subordination Agreements. Class 7 Claims are impaired. Class 8 consists of any and all equity interests in the Debtor. All of the equity interests of the Debtor are held by Artstock Holding Company, Inc. Artstock Holding Company, Inc. shall continue as the sole Interest Holder of the Debtor after the Confirmation Date. While any obligations to Holders of Allowed Claims other than Class 8 remain outstanding under the Plan, any and all value, payments, dividends, advances, redemptions, or other consideration of any kind received, realized, or retained, directly or indirectly, by the Interest Holder on account of, or arising from, its equity Interests in the Debtor shall be promptly turned over and paid to the Debtor for the sole benefit of, and distributed pro rata to, the Holders of Allowed General Unsecured Claims (Class 7) until such obligations are paid in full; provided, however, that any portion otherwise distributable to Adlerstein and/or Art Supply Enterprises on account of an Allowed Class 7 Claim shall be paid in accordance with the Subordination Agreements. No equity distributions shall be made to the Interest Holder premised on its Interests in the Debtor until such time as all other Claims have been satisfied under the Plan, absent agreement between the Interest Holder and any Claimant otherwise entitled to the Distribution. The Debtor believes that the projections attached to the Plan as Exhibit A demonstrate that the Debtor is viable, will continue to be viable, and is able to satisfy its obligations under the Plan. From and after the Effective Date, the Debtor shall not incur, issue, authorize, or consummate any financing or capital-raising transaction that results in the incurrence of indebtedness or the issuance of any equity interests of any kind, including, without limitation: (a) incurring funded debt; (b) issuing notes, bonds, debentures, or other debt securities; (c) borrowing under any revolving, term loan, asset-based, or similar credit facility; (d) entering into any sale-leaseback, factoring, or similar financing arrangement; or (e) issuing or selling any equity or equity-linked securities, except as expressly provided in this Section. A full-text copy of the Amended Disclosure Statement dated June 9, 2026 is available at https://urlcurt.com/u?l=dj4yed from PacerMonitor.com at no charge. Counsel for the Debtor: Adam R. Prescott, Esq. D. Sam Anderson, Esq. Bernstein Shur 100 Middle Street PO Box 9729 Portland, Maine 04104 Telephone: (207) 774-1200 Facsimile: (207) 774-1127 E-mail: aprescott@bernsteinshur.com About Artstock Artstock, doing business as Artist & Craftsman Supply, was founded in 1985 in Portland, Maine, as an independent retailer dedicated to providing high-quality fine art materials to local artists and creative communities. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Maine Case No. 25-20305) on Dec. 23, 2025, listing between $10 million and $50 million in both assets and liabilities. Judge Peter G. Cary oversees the case. The Debtor is represented by D. Sam Anderson, Esq., and Adam R. Prescott, at Bernstein Shur Sawyer & Nelson, PA. ASCEND ELEMENTS: Settles DOE's Overbilling Claims ------------------------------------------------- James Nani of Bloomberg Law reports that Ascend Elements Inc., a battery recycling company currently in Chapter 11, has struck a deal with the Department of Energy over alleged improper billings connected to construction of its Kentucky production plant. The settlement aims to resolve potential civil claims that arose after the company disclosed billing concerns to federal officials. As part of the agreement, the Massachusetts-based company will forgo approximately $7.5 million in grant proceeds that otherwise would have been payable by the DOE. The disputed billings totaled at least $16 million, according to documents filed in the bankruptcy case, the report relays. The company disclosed in early 2025 that it had identified billing issues involving contractor Turner-Kokosing Joint Venture and subcontractor RMF Nooter LLC. Ascend said it voluntarily brought the matter to the government's attention and cooperated in reviewing the questioned charges, according to report. Court filings state that the settlement provides a pathway to resolve potential whistleblower-related liabilities without prolonged litigation. Ascend contends that the agreement will preserve estate resources and support its ongoing reorganization process, the report cites. About Ascend Elements, Inc. Ascend Elements is an advanced manufacturing and recycling company dedicated to producing sustainable lithium-ion battery materials. Founded in 2015, the company operates from its headquarters in Westborough, Massachusetts, and serves the growing electric vehicle supply chain. Ascend Elements sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 26-90440) on April 9, 2026. In its petition, the Debtor reports estimated assets between $1 million and $10 million and estimated liabilities between $500,000 and $1 million. Honorable Bankruptcy Judge Christopher M. Lopez handles the case. The Debtor is represented by Ryan E. Manns, Esq., of Norton Rose Fulbright US LLP. ASCENT SOLAR: Taylor Ryan Barwick Ceases Ownership Stake -------------------------------------------------------- Taylor Ryan Barwick disclosed in a Schedule 13G (Amendment No. 2) filed with the U.S. Securities and Exchange Commission that as of June 12, 2026, he no longer beneficially owns shares of Ascent Solar Technologies, Inc.'s Common Stock. Taylor Ryan Barwick may be reached at: 505 Beachland Blvd Ste 1 PMB2105, Vero Beach, FL 32963-1798, United States A full-text copy of Taylor Ryan Barwick's SEC report is available at: https://tinyurl.com/5n92326r About Ascent Solar Technologies, Inc. Ascent Solar Technologies, Inc. is a solar technology company based in Thornton, Colorado, that manufactures and sells photovoltaic solar modules that are flexible, durable, and possess attractive power-to-weight and power-to-area performance. Its technology provides renewable power solutions to high-value production and specialty solar markets where traditional rigid solar panels are not suitable, including space power beaming, aerospace, satellites, near-Earth orbiting vehicles, fixed-wing unmanned aerial vehicles, aquatic, terrestrial, and other weight-sensitive markets (including DoD drone and space operations) with transformational, high-quality, value-added product applications. The Company operates in these target markets because they have highly specialized needs for power generation and offer attractive pricing due to the significant technological requirements. Salt Lake City, Utah-based Haynie, the Company's auditor since 2023, issued a "going concern" qualification in its report dated March 20, 2026, attached to the Company's Annual Report for the fiscal year ended December 31, 2025, citing that the Company has had limited production which has led to the Company being dependent on outside financing to fund its operations. There is no assurance that the Company will be able to raise additional capital and cash on hand is not sufficient to sustain operations. These factors raise substantial doubt about its ability to continue as a going concern. As of December 31, 2025, the Company had $6.33 million in total assets, $2.99 million in total liabilities, and $3.34 million in total stockholders' equity. ASHFORD HOSPITALITY: Closes $45.3M Sale of San Diego Sheraton Hotel ------------------------------------------------------------------- Ashford Hospitality Trust, Inc. announced in a regulatory filing that Ashford MV San Diego LP, an indirect wholly owned subsidiary of the Company, completed the sale of the Sheraton Mission Valley located in San Diego, California pursuant to an Agreement of Purchase and Sale, dated as of March 26, 2026, as amended, by and between Ashford MV San Diego LP, as seller, and Hotel Circle Holdings LLC, as purchaser, for approximately $45.3 million in cash, subject to customary pro-rations and adjustments. About Ashford Hospitality Ashford Hospitality Trust is a real estate investment trust (REIT) focused on investing predominantly in upper upscale, full-service hotels. Dallas, Texas-based BDO USA, P.C., the Company's auditor since 2015, issued a "going concern" qualification in its report dated March 20, 2026, attached to the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2025, citing that the Company has final debt maturities within one year from the date the financial statements are issued, which raise substantial doubt about its ability to continue as a going concern. As of March 31, 2026, Ashford had $2.6 billion in total assets, $3 billion in total liabilities, and a total stockholders' deficit of $695.2 million. As of March 31, 2026, the Company had total indebtedness of $2.4 billion included $2.2 billion of variable-rate debt. ATARA BIOTHERAPEUTICS: All Four Proposals Passed at Annual Meeting ------------------------------------------------------------------ Atara Biotherapeutics, Inc. has announced the results of its 2026 Annual Meeting of Stockholders. The following is a brief description of each matter voted upon at the Annual Meeting, as well as the number of votes cast for or against each matter and the number of abstentions and broker non-votes with respect to each matter. PROPOSAL 1: Election of Directors 1. AnhCo Nguyen, Ph.D. * For: 3,543,113 * Withheld: 32,311 * Broker Non-Votes: 2,945,628 2. Nachi Subramanian * For: 2,581,435 * Withheld: 993,989 * Broker Non-Votes: 2,945,628 Each of the two nominees for director was elected to serve until the 2029 annual meeting of stockholders and until their respective successors are elected. PROPOSAL 2: Advisory vote to approve on the compensation of the Company's named executive officers * For: 3,526,411 * Against: 44,481 * Abstain: 4,532 * Broker Non-Votes: 2,945,628 The stockholders approved, on an advisory basis, the compensation awarded to the Company's named executive officers, as disclosed in the Proxy Statement. PROPOSAL 3: Proposal to approve the first amendment to the Company's 2024 Equity Incentive Plan to increase the number of shares of common stock reserved for issuance thereunder by 400,000 * For: 3,521,021 * Against: 51,327 * Abstain: 3,076 * Broker Non-Votes: 2,945,628 The stockholders approved the amendment to the Company's 2024 Equity Incentive Plan, as disclosed in the Proxy Statement. PROPOSAL 4: Ratification of appointment of independent registered public accounting firm * For: 6,490,311 * Against: 29,237 * Abstentions: 1,504 The stockholders ratified the appointment of Deloitte & Touche LLP as the Company's independent registered public accounting firm for the fiscal year ending December 31, 2026. About Atara Biotherapeutics Atara Biotherapeutics, Inc. -- http://atarabio.com/-- is a biotechnology Company focused on developing off-the-shelf cell therapies that harness the power of the immune system to treat difficult-to-treat cancers and autoimmune conditions. With cutting-edge science and differentiated approach, Atara is the first Company in the world to receive regulatory approval of an allogeneic T-cell immunotherapy. The Company's advanced and versatile T-cell platform does not require T-cell receptor or HLA gene editing and forms the basis of a diverse portfolio of investigational therapies that target EBV, the root cause of certain diseases, in addition to next-generation AlloCAR-Ts designed for best-in-class opportunities across a broad range of hematological malignancies and B-cell driven autoimmune diseases. Atara is headquartered in Southern California. San Francisco, Calif.-based Deloitte & Touche LLP, the Company's auditor since 2013, issued a "going concern" qualification in its report dated March 16, 2026, attached to the Company's Annual Report on Form 10-K for the year ended December 31, 2025, citing that Company's negative cash flow from operations and losses from operations raises substantial doubt about its ability to continue as a going concern. As of March 31, 2026, the Company had $20 million in total assets, $57.3 million in total liabilities, and $37.3 million in total stockholders' deficit. ATARA BIOTHERAPEUTICS: Appoints Brian Cherry as Class I Director ---------------------------------------------------------------- Atara Biotherapeutics, Inc. announced in a regulatory filing that the Board of Directors has appointed Brian Cherry to serve as a member of the Board as a Class I director, effective June 11, 2026. Mr. Cherry was also appointed to the Audit Committee of the Board. The Board has determined that Mr. Cherry is independent under the Company's Corporate Governance Guidelines, applicable U.S. Securities Exchange Commission requirements and Nasdaq listing standards. There are no arrangements or understandings between Mr. Cherry and any other persons pursuant to which he was elected as a director of the Company. There are no family relationships between Mr. Cherry and any director or executive officer of the Company, and he has no direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K. In connection with his appointment, on the Effective Date, the Board approved an initial equity award to Mr. Cherry of 24,000 restricted stock units covering shares of the Company's Common Stock, which will vest on an annual basis over three years, subject to his continuous service as a member of the Board. Mr. Cherry will otherwise participate in the Company's non-employee director compensation arrangements, which are generally described under the heading "2025 Non-Employee Director Compensation" in the Company's Proxy Statement for its 2026 Annual Meeting of Stockholders as filed with the SEC on April 24, 2026, including an annual cash retainer of $55,000 starting on the Effective Date, with payment pro-rated for any partial period of service. The Company also entered into its standard form of indemnification agreement with Mr. Cherry. About Atara Biotherapeutics Atara Biotherapeutics, Inc. -- http://atarabio.com/-- is a biotechnology Company focused on developing off-the-shelf cell therapies that harness the power of the immune system to treat difficult-to-treat cancers and autoimmune conditions. With cutting-edge science and differentiated approach, Atara is the first Company in the world to receive regulatory approval of an allogeneic T-cell immunotherapy. The Company's advanced and versatile T-cell platform does not require T-cell receptor or HLA gene editing and forms the basis of a diverse portfolio of investigational therapies that target EBV, the root cause of certain diseases, in addition to next-generation AlloCAR-Ts designed for best-in-class opportunities across a broad range of hematological malignancies and B-cell driven autoimmune diseases. Atara is headquartered in Southern California. San Francisco, Calif.-based Deloitte & Touche LLP, the Company's auditor since 2013, issued a "going concern" qualification in its report dated March 16, 2026, attached to the Company's Annual Report on Form 10-K for the year ended December 31, 2025, citing that Company's negative cash flow from operations and losses from operations raises substantial doubt about its ability to continue as a going concern. As of March 31, 2026, the Company had $20 million in total assets, $57.3 million in total liabilities, and $37.3 million in total stockholders' deficit. ATARA BIOTHERAPEUTICS: Registers 400,000 Shares Under 2024 Plan --------------------------------------------------------------- Atara Biotherapeutics, Inc. filed a Registration Statement on Form S-8 for the purpose of registering an additional 400,000 shares of Registrant common stock, par value $0.0001 per share that were reserved for issuance under the Atara Biotherapeutics, Inc. 2024 Equity Incentive Plan, as amended. The Registration Statement hereby incorporates by reference the contents of the Registrant's prior Registration Statements on Form S-8 filed with the Securities and Exchange Commission on June 11, 2024 (SEC File No. 333-280125) and January 17, 2025 (SEC File No. 333-284338) registering shares of Common Stock issuable under the Plan. This Registration Statement relates to securities of the same class as those to which the Prior Registration Statements relate and is submitted in accordance with General Instruction E of Form S-8 regarding Registration of Additional Securities. A full text copy of the Registration Statement is available at https://tinyurl.com/2udahwxr About Atara Biotherapeutics Atara Biotherapeutics, Inc. -- http://atarabio.com/-- is a biotechnology Company focused on developing off-the-shelf cell therapies that harness the power of the immune system to treat difficult-to-treat cancers and autoimmune conditions. With cutting-edge science and differentiated approach, Atara is the first Company in the world to receive regulatory approval of an allogeneic T-cell immunotherapy. The Company's advanced and versatile T-cell platform does not require T-cell receptor or HLA gene editing and forms the basis of a diverse portfolio of investigational therapies that target EBV, the root cause of certain diseases, in addition to next-generation AlloCAR-Ts designed for best-in-class opportunities across a broad range of hematological malignancies and B-cell driven autoimmune diseases. Atara is headquartered in Southern California. San Francisco, Calif.-based Deloitte & Touche LLP, the Company's auditor since 2013, issued a "going concern" qualification in its report dated March 16, 2026, attached to the Company's Annual Report on Form 10-K for the year ended December 31, 2025, citing that Company's negative cash flow from operations and losses from operations raises substantial doubt about its ability to continue as a going concern. As of March 31, 2026, the Company had $20 million in total assets, $57.3 million in total liabilities, and $37.3 million in total stockholders' deficit. ATLANTIC & PACIFIC: Court Issues Ruling in McKesson Adversary Case ------------------------------------------------------------------ The Hon. Lisa G. Beckerman of the U.S. Bankruptcy Court for the Southern District of New York entered a Memorandum Opinion regarding preference allegations, related defenses, and alleged automatic stay violations in the adversary proceeding captioned as THE OFFICIAL COMMITTEE OF UNSECURED CREDITORS on behalf of the bankruptcy estate of THE GREAT ATLANTIC & PACIFIC TEA COMPANY, INC., et al., Plaintiff, - against - McKESSON CORPORATION, Defendant, Adv. Proc. No. 17-08264 (LGB) (Bankr. S.D.N.Y.). After a long and winding procedural journey, this adversary proceeding (the "Primary Proceeding") between the Official Committee of Unsecured Creditors on behalf of the bankruptcy estate of The Great Atlantic & Pacific Tea Company (the "Committee" or "Plaintiff") and McKesson Corporation d/b/a McKesson Drug Co. (the "Defendant" or "McKesson", and together with the Committee, the "Parties") comes to an end. This opinion shall resolve: (i) whether the various payments made from the Debtor to McKesson during the 90-day period prior to the Petition Date (the "Preference Period") were preferential transfers, and whether McKesson has valid defenses to those allegations; (ii) the proper method of valuing the goods delivered from McKesson to the Debtor for purposes of McKesson's subsequent new value defense; (iii) whether the purported deliveries recorded on the "355 Invoices" in fact existed; and (iv) whether various prepetition and postpetition amounts allegedly withheld from McKesson by the Debtor constituted violations of the automatic stay under Secs. 362(a)(3), (6) and/or (7) of the Bankruptcy Code, and to what extent the Debtor is entitled to recover any damages as a result of any such violation. The business relationship between McKesson and the Debtor was generally governed by a Supply Agreement dated December 6, 2012 (the "Supply Agreement") and New York state law. Under the Supply Agreement, McKesson supplied the Debtor's pharmacies with "Merchandise," defined in the Supply Agreement to include "prescription drugs, over the counter drugs, health and beauty aids, and sundries" (collectively, the "Merchandise"). On July 13, 2017, the Plaintiff initiated this Primary Proceeding by filing its Complaint against McKesson. The Complaint sought the avoidance and recovery of 30 payments made by the Debtor to McKesson, totaling $67,752,943.44, during the Preference Period. The first claim for relief is brought pursuant to section 547 of title 11 of the United States Bankruptcy Code (the "Bankruptcy Code"), and the second is brought pursuant to section 550(a) of the Bankruptcy Code. McKesson asserted various defenses set forth in section 547(c) of the Bankruptcy Code, including the ordinary course of business, contemporaneous exchange, and subsequent new value defenses, as well as a setoff defense on account of McKesson's administrative claim pursuant to section 503(b)(9) of the Bankruptcy Code. The Amended Complaint states that, under the Supply Agreement, McKesson had regularly credited the Debtor from 2012 through mid-July 2015 for medturns through a process whereby the Debtor's individual stores would return merchandise, as permitted by the Supply Agreement, and McKesson would calculate the amount of credit the Debtor was due for the returns and permit the Debtor to use the credits to reduce the amounts paid for subsequent purchases. The Supply Agreement was set to expire on August 31, 2015, and by consent of the parties, the Supply Agreement was extended on an interim basis through September 8, 2015. On September 8, 2015, eight days after the expiration date of the Supply Agreement, the Debtor and McKesson entered into an agreement titled, Extension of Compliance with Terms of Supply Agreement (the "Extension Agreement"), pursuant to which the parties' compliance with the terms of the Supply Agreement was extended to January 31, 2016, and the Debtor paid McKesson an extension fee in the amount of $1 million to be applied to reduce McKesson's administrative claim. To the extent the allegedly preferential transfers were on account of otherwise-unsecured, non-priority claims, the Court concludes that McKesson would, more likely than not, have recovered nothing in a chapter 7 liquidation. At the time of filing, the Debtor's schedules show assets of $601,441,108.28, burdened by approximately $925 million in secured debt and $1.2 billion of general unsecured claims. In a chapter 7 liquidation, the Debtor's available assets would have had to be liquidated in a fire sale, and the proceeds would have to be applied to satisfy the $925 million in secured debt. Since most of the Debtor's assets were subject to the secured lender's liens,10 the Court finds it highly implausible that the Debtor would have been able to generate asset sale proceeds to pay 100% of not only the $925 million in secured debt, but also 100% of the approximately $1.2 billion general unsecured claims pool. Thus, to the extent the allegedly preferential transfers to McKesson were on account of otherwise-unsecured, non-priority claims, the Court finds that the Plaintiff has shown by a preponderance of the evidence that McKesson's receipt of the allegedly preferential transfers would have resulted in an outsized recovery for McKesson, and so the Plaintiff has met their burden to establish a prima facie preference claim with respect to those allegedly preferential transfers. Among its preference claims, the Plaintiff seeks the avoidance and recovery of four payments totaling $4,249,724.88 (the "Next-Day Payments") made by the Debtor to McKesson shortly before the Filing Date. McKesson asserted that each of the Next-Day Payments were: (i) intended as contemporaneous exchanges for new value, and (ii) in fact substantially contemporaneous exchanges, and thus shielded from preference liability under Sec. 547(c)(1). McKesson argues that, in light of the Debtor's financial difficulties, it initially modified the credit terms to effect one-day sales outstanding, which would require same-day payment for the Merchandise delivered. But, because of "the logistical impossibility of paying the invoices the same day the goods were delivered," McKesson agreed to two days sales outstanding and accepted payment for the Merchandise one day after delivery. Id. McKesson also asserts that, by complying with the Modified Credit Terms, the Debtor's conduct indicates that the payments were intended as contemporaneous exchanges for the provision of new Merchandise. According to the Court, although the Debtor had not expressly agreed to the Modified Credit Terms, the Debtor "did in fact comply with" the Modified Credit Terms and acted promptly under the circumstances with respect to the payments made via wire one day after the Merchandise was delivered. To the extent that the Committee attempts to argue that the Debtor did not intend for the Next-Day Payments to be contemporaneous exchanges for new value because they were effectively coerced into accepting the Modified Credit Terms, the Court rejects that argument based on the evidence before it. The fact that A&P knew it always had this option suggests that it was not so pressured into accepting the Next-Day Payment terms such that it can be said to have been coerced into accepting these new terms. Rather, the evidence indicates that McKesson's offered terms might have been, in certain respects, more advantageous to A&P than those otherwise available in the market at the time. The Court concludes that McKesson and the Debtor intended the Next-Day Payments to be contemporaneous exchanges. In addition to the Next-Day Payments, the Plaintiff seeks to avoid and recover 26 additional payments totaling $62,869,848.32 (the "26 Payments") made during the Preference Period. McKesson asserts that the 26 Payments are shielded by the "ordinary course of business" defense under section 547(c)(2), as each Transfer was either: "(A) made in the ordinary course of business or financial affairs of the debtor and the transferee; or (B) made according to ordinary business terms." With the exception of two wire transfers in the combined amount of $4,587,431.62 paid on May 22, 2015 (the "May 22 Transfer"), the 26 Payments were made pursuant to the "same credit terms and payment procedures that had been in place for the prior three years" under the Supply Agreement. In the months immediately prior to the Preference Period leading up to the Petition Date, there is only evidence that the Debtors made one, single late payment, on February 27, 2015. Thus, with the exception of the May 22 Transfer, the Court is satisfied that the Parties' course of dealing during the Preference Period is consistent with their pre-Preference Period course of dealing and pattern of payments. As to the May 22 Transfer, the Court finds that it did not adhere to the Parties' prior course of dealing since it was made by wire transfer rather than ACH transfer. The Court finds that the May 22 Transfer is not shielded from avoidance by section 547(c)(2)(A) due to McKesson's demands for immediate payment and the resulting change in its payment terms from ACH transfer to wire. On the other hand, McKesson has successfully met its burden to prove that the ACH Transfers were made in the subjective ordinary course of business between the Parties, and therefore the ACH Transfers are shielded from avoidance under section 547(c)(2)(A). In its 2022 MSJ Opinion, this Court previously ruled that McKesson's subsequent new value defense under section 547(c)(4) (the "SNV Defense") is valid to the extent of the value of the additional goods delivered by McKesson to the Debtor during the Preference Period. This Court concludes that for purposes of McKesson's SNV Defense: (1) the invoice price establishes the value of the Merchandise actually delivered to the Debtor's pharmacies during the Preference Period; and (2) McKesson's SNV defense shall not be calculated to include the value of the Merchandise underlying the "355 Invoices" representing an aggregate value of $127,692.46. The Court has determined that all but the May 22 Transfer are shielded from avoidance by other valid section 547(c) defenses. Thus, the Court need only apply the SNV Defense to the May 22 Transfer. The record indicates that A&P received new value in the form of pharmaceutical goods delivered subsequent to the May 22 Transfer in the amounts of $3,493,423.33 and $909,118.06 from May 23, 2015 to May 29, 2015. However, A&P later made otherwise unavoidable payments to McKesson on account of these new value deliveries (i.e., A&P's subsequent payments to McKesson have been determined to be unavoidable because of section 547(c)(2)), thus making the SNV Defense unavailable to McKesson with respect to the May 22 Transfer. The Plaintiff alleges that two prepetition "Medturns" credits, worth $413,000 and $166,000, were entered as owed to the Debtors but withheld for application postpetition. Specifically, on July 28, 2015 and later again on September 16, 2015, McKesson internally recorded these credits as due and owing, but after consulting bankruptcy counsel, diverted the credits to a holding account (#318699), where they are still recorded as due and owing to A&P. The Plaintiff alleges that these withholdings amount to a violation of the automatic stay under Secs. 362(a)(3), (6), and/or (7) of the Bankruptcy Code. The Court finds that McKesson's withholding of the two prepetition Medturns credits was not an automatic stay violation under Sec. 362(a)(3), because, as A&P had no contractual entitlement to these prepetition credits pursuant to paragraph 4 of the Extension Agreement by which A&P waived its right to them, and the Medturns credits therefore did not constitute property of the estate. The Court finds that, while the evidence suggests that the Supply Agreement and Extension Agreement should be deemed one single contract and not two separate ones, A&P's prepetition earned June Rebate is "discrete and independent" from McKesson's November 2015 payment (consisting of rebates for goods delivered from July 19, 2015 through the end of September 2015) though both arise under the single, integrated Supply Agreement and Extension Agreement respectively. The Court concludes that McKesson did not have a right to recoup the June Rebate from the November 2015 Payment, and thus the reversal of this rebate was a violation of the automatic stay imposed by Sec. 362 of the Bankruptcy Code. The Plaintiff is consequently entitled to the return of the amount of the reversed rebate, $562,833.91, plus interest on this. Plaintiff argues that a further $7,027.11, identified only as "June Credits issued" was wrongfully deducted from the November 2015 Payment without explanation or evidentiary support. The Court concludes that a stay violation did occur because, just as discussed with regard to the June Rebate, McKesson's deduction or withholding of this amount deviated from the Parties' contractual terms and the Plaintiff has satisfied its burden to show that it was validly owed the full amount of its postpetition rebates from July 19, 2015 through the end of September 2015. Since McKesson failed to offer any evidence to controvert these findings, the Court concludes that they wrongfully withheld $7,027.11 from their November 2015 payment in violation of Sec. 362(a)(3). The withholding is void ab initio. The Plaintiff is entitled to the return of $7,027.11 with interest, which otherwise would have been paid to the Debtor on account of rebates earned post-petition. In summary, this Court rules as follows: 1. Each of the transfers in the Primary Proceeding enabled McKesson to receive more than it would have received if the Main Case were a case under chapter 7, the transfer had not been made, and McKesson received payment on such debt to the extent provided by the provisions of the Bankruptcy Code. 2. After accounting for all of McKesson's Sec. 547(c) defenses, the Plaintiff can, pursuant to Secs. 547 and 550, avoid and recover $4,587,431.62, which is the sum of the May 22 Transfer. The Next-Day Payments are shielded by McKesson's Sec. 547(c)(1) contemporaneous exchange defense, and the remaining 26 Payments (excluding the May 22 Transfer) are shielded by McKesson's Sec. 547(c)(2) ordinary course of business defense. 3. As to each of the Next-Day Payments, the Parties intended each of these transfers to be substantially contemporaneous with an exchange for new value given to A&P. 4. With the exception of the May 22 Transfer and the Next-Day Payments, each of the transfers in the Primary Proceeding were made in the ordinary course of business and financial affairs of the Parties. 5. With the exception of the May 22 Transfer and the Next-Day Payments, each of the transfers in the Primary Proceeding was made according to ordinary business terms. 6. In calculating the extent of McKesson's SNV Defense, the invoice price establishes the value of the Merchandise actually delivered to the Debtor's pharmacies during the Preference Period. 7. McKesson's SNV Defense under Sec. 547(c)(4) shall not be calculated to include the value of the Merchandise underlying the 355 Invoices. 8. The May 22 Transfer is not shielded from avoidance on account of McKesson's SNV Defense under Sec. 547(c)(4) and McKesson's judgment amount is not reducible on account of McKesson's SNV Defense. 9. As Judge Drain ruled in the 2019 MSJ Bench Ruling, McKesson is entitled to set off its preference exposure against its administrative expense claim and is liable for any remaining amount of the judgment. 10. McKesson must pay the amounts of $562,833.91 and $7,027.11, both with interest accrued from the date of the June Rebate reversal and withholding of the "June Credits issued," November 16, 2015, to the Debtor, on account of McKesson's automatic stay violations under Sec. 362(a)(3), (6), and/or (7). A copy of the Court's Memorandum Opinion dated June 17, 2026, is available at https://urlcurt.com/u?l=cU55eo from PacerMonitor.com. About The Great Atlantic & Pacific Tea Company Based in Montvale, New Jersey, The Great Atlantic & Pacific Tea Company, Inc., and its affiliates are one of the nation's oldest leading supermarket and food retailers, operating approximately 300 supermarkets, beer, wine, and liquor stores, combination food and drug stores, and limited assortment food stores across six Northeastern states. The primary retail operations consist of supermarkets operated under a variety of well-known trade names, or "banners," including A&P, Waldbaum's, SuperFresh, Pathmark, Food Basics, The Food Emporium, Best Cellars, and A&P Liquors. Then with 429 stores, A&P and its affiliates filed Chapter 11 petitions (Bankr. S.D.N.Y. Case No. 10-24549) on Dec. 12, 2010, and in 2012 emerged from Chapter 11 bankruptcy as a privately held company with 320 supermarkets. On July 19, 2015, with 300 stores, A&P and 20 affiliated debtors each filed a Chapter 11 petition (Bankr. S.D.N.Y. Case No. 15-23007) after reaching deals for the going concern sales of 120 stores. As of Feb. 28, 2015, the Debtors reported total assets of $1.6 billion and liabilities of $2.3 billion. Judge Robert D. Drain of the U.S. Bankruptcy Court for the Southern District of New York presides over the 2015 cases. The Debtors tapped Weil, Gotshal & Manges LLP as counsel, Evercore Group L.L.C., as investment banker, FTI Consulting, Inc., as financial advisor, Hilco Real Estate, LLC, as real estate advisor, and Prime Clerk LLC, as claims and noticing agent. ATLANTIC & PACIFIC: Court Rules on McKesson 503(b)(9) Claim ----------------------------------------------------------- The Hon. Lisa G. Beckerman of the U.S. Bankruptcy Court for the Southern District of New York entered a Memorandum Opinion regarding McKesson Corporation's 503(b)(9) claim issues in the adversary proceeding captioned as THE OFFICIAL COMMITTEE OF UNSECURED CREDITORS on behalf of the bankruptcy estate of THE GREAT ATLANTIC & PACIFIC TEA COMPANY, INC., et al., Plaintiff, - against - McKESSON CORPORATION, Defendant, Adv. Proc. No. 17-08264 (LGB) (Bankr. S.D.N.Y.). After a long and winding procedural journey, this adversary proceeding (the "Primary Proceeding") between the Official Committee of Unsecured Creditors on behalf of the bankruptcy estate of The Great Atlantic & Pacific Tea Company (the "Committee" or "Plaintiff") and McKesson Corporation d/b/a McKesson Drug Co. (the "Defendant" or "McKesson", and together with the Committee, the "Parties") comes to an end. This opinion shall resolve: (i) whether certain of McKesson's proofs of claim were sufficiently documented or otherwise allowable in the Main Case; (ii) whether the invoices reflect the true value of the goods delivered from McKesson to the Debtor for purposes of calculating McKesson's administrative claim; and (iii) whether the purported deliveries recorded on the "355 Invoices" in fact existed. The business relationship between McKesson and the Debtor was generally governed by a Supply Agreement dated December 6, 2012 (the "Supply Agreement") and New York state law. Under the Supply Agreement, McKesson supplied the Debtor's pharmacies with "Merchandise," defined in the Supply Agreement to include "prescription drugs, over the counter drugs, health and beauty aids, and sundries" (collectively, the "Merchandise"). On November 24, 2015, McKesson filed its initial proof of claim in the bankruptcy case against the Debtors, including an administrative claim pursuant to Sec. 503(b)(9) for "at least $4,943,773.12" for goods received by the Debtor during the twenty days prior to the Petition Date (the "Administrative Claim Period"). McKesson subsequently filed an amended proof of claim asserting an administrative claim pursuant to Sec. 503(b)(9) for "at least $1,748,115.92." McKesson later filed a second amended proof of claim (the "Supplemental Administrative Claim"), asserting that the amount listed for the administrative claim was slightly understated and that the correct amount was $1,750,731.87. McKesson also for the first time asserted that it was entitled to a contingent Sec. 503(b)(9) administrative claim of up to $4,249,724.88 if any payments it received during the twenty days before the Petition Date are ultimately determined to be avoidable as a preference or otherwise. Through its proofs of claim, McKesson also asserted that it had a general unsecured claim in the amount of $9,845,587.88 on account of goods delivered to the Debtors outside of the twenty days before the Petition Date and for which payment was owed. McKesson subsequently filed an amended proof of claim asserting a reduced unsecured claim of $1,827,420.19. McKesson appeared to later assert that this amount was slightly higher at $2,455,335.88, as set forth in its declaration in support of its motion for summary judgment on the Debtor's Claim Objections, but McKesson did not formally amend its prior proof of claim that asserted a lower amount of $1,827,420.19. Plaintiff has not objected to the allowance of McKesson's unsecured claim. On May 20, 2016, the Debtor filed its Thirteenth Omnibus Objection to Claims ("Thirteenth Omnibus Objection"), asserting that, because McKesson failed to provide sufficient documentation in support of its administrative claim, the Debtor could not determine the validity of the claims. McKesson, however, asserted that it provided all documentation requested by the Debtor. Plaintiff contends that McKesson wrongfully withheld $134,503.57, from a December 2015 Payment to A&P, which was for the return to A&P of the $1.5 million balance of A&P's $2 million deposit remitted earlier pursuant to the Extension Agreement. McKesson asserts that this amount represented certain return credits issued between August and October 2015 that McKesson later determined that A&P was not entitled to because A&P allegedly failed to actually pay for that returned merchandise in the first place. McKesson contends that these overpaid credits allegedly related to product ordered during the prebankruptcy period for which McKesson has unpaid invoices. McKesson failed to provide any evidence at all, in the form of invoices, shipment records, or payment receipts, which might have shown whether the goods underlying the allegedly overfunded credits were ever paid for. Thus, the Court concludes that the Plaintiff has met its burden to prove that the $134,503.57 was wrongfully withheld from the December 2015 Payment to A&P because the evidence indicates that the calculation used by McKesson to justify its withholding of the amount was significantly flawed. So the Plaintiff has sufficiently proven it has a valid postpetition claim against McKesson. McKesson therefore owes A&P for $134,503.57, which should reduce McKesson's administrative claim. As discussed in the Preference & Stay Violations Opinion, the Court concludes that the evidence at trial failed to show that the Debtor received delivery of certain merchandise delivered within two weeks of the Petition Date (the "355 Invoices") with an aggregate value of $127,692.46, which amount was included in McKesson's Administrative Proof of Claim. Upon review of the 355 Invoices, the Court finds that they are facially problematic. When asked, McKesson refused to produce any proof of shipment or delivery beyond the 355 Invoices themselves. the Court believes the factual record to be overwhelmingly one-sided on this issue, in the Plaintiff's favor. McKesson is thus directed to reduce its administrative claim by $127,692.46 Additionally, as discussed in the Preference & Stay Violations Opinion in the context of McKesson's SNV Defense, the Parties dispute whether the invoices used by McKesson to calculate its § 503(b)(9) administrative claim are the correct measure of the value of the merchandise delivered, or alternatively whether instead the true purchase price of the goods received by the Debtor during the relevant administrative claim period is the invoice amount less the rebate amount the Debtor was entitled to, highlighting that the Debtor had often received its "prebate" on a shipment of merchandise prior to paying the invoices pertaining to that same shipment. The Plaintiff seeks a further reduction of McKesson's Sec. 503(b)(9) administrative claim in the amount of approximately $277,000 in rebates owed to A&P. Given the contractually contingent nature of the rebates, which were subject to future adjustment, the Court is unconvinced that the appropriate value of the goods received by the Debtor during the twenty days prior to the Petition Date should account for these rebates. Rebates were calculated from the invoiced price and earned upon payment of that invoice. Thus, at delivery, A&P received pharmaceuticals, the estate was replenished by their value, and any future rebate would be crystallized only if A&P timely paid that invoice. Similarly, if McKesson allowed rebates to be applied upon purchase and A&P later failed to timely pay, A&P's future credits would be reduced by the same amount. The Court therefore concludes that the presumption that the invoice price here is the best determinant of the value of the goods underlying McKesson's Sec. 503(b)(9) administrative claim has not been sufficiently rebutted. McKesson need not reduce its administrative claim by the $277,000 adjustment for owed rebates that Plaintiff asserts is required. In summary, this Court rules as follows: 1. McKesson must reduce its administrative claim by $134,503.57 on account of postpetition returns owed but not accounted for in its Administrative Proof of Claim. 2. McKesson must reduce its administrative claim by $127,692.46, which was an amount erroneously included in McKesson's Administrative Proof of Claim on account of the 355 Invoices. 3. Thus, in total McKesson must reduce its administrative claim by $262,196.03. Since McKesson asserts that its fixed administrative claim is $1,750,731.87, McKesson's fixed allowed administrative claim after the reductions consistent with this Opinion is $1,488,535.84. 4. McKesson has no supplemental/contingent Sec. 503(b)(9) administrative claim as this Court held in the Preference & Stay Violations Opinion that the Next Day Payments are unavoidable. 5. Finally, pursuant to Judge Robert Drain's previous bench ruling, McKesson is entitled to offset its preference exposure against its administrative expense claim dollar-for-dollar and is liable for any remaining amount of the preference judgment. Since this Court resolved in the Preference & Stay Violations Opinion that McKesson's total preference exposure is $4,587,431.62, McKesson may offset this preference exposure against its remaining allowed administrative claim, and thus McKesson is ultimately ordered to pay the difference, $3,098,895.78 to the Debtor. A copy of the Court's Memorandum Opinion dated June 17, 2026, is available at https://urlcurt.com/u?l=SUxbOr from PacerMonitor.com. About The Great Atlantic & Pacific Tea Company Based in Montvale, New Jersey, The Great Atlantic & Pacific Tea Company, Inc., and its affiliates are one of the nation's oldest leading supermarket and food retailers, operating approximately 300 supermarkets, beer, wine, and liquor stores, combination food and drug stores, and limited assortment food stores across six Northeastern states. The primary retail operations consist of supermarkets operated under a variety of well-known trade names, or "banners," including A&P, Waldbaum's, SuperFresh, Pathmark, Food Basics, The Food Emporium, Best Cellars, and A&P Liquors. Then with 429 stores, A&P and its affiliates filed Chapter 11 petitions (Bankr. S.D.N.Y. Case No. 10-24549) on Dec. 12, 2010, and in 2012 emerged from Chapter 11 bankruptcy as a privately held company with 320 supermarkets. On July 19, 2015, with 300 stores, A&P and 20 affiliated debtors each filed a Chapter 11 petition (Bankr. S.D.N.Y. Case No. 15-23007) after reaching deals for the going concern sales of 120 stores. As of Feb. 28, 2015, the Debtors reported total assets of $1.6 billion and liabilities of $2.3 billion. Judge Robert D. Drain of the U.S. Bankruptcy Court for the Southern District of New York presides over the 2015 cases. The Debtors tapped Weil, Gotshal & Manges LLP as counsel, Evercore Group L.L.C., as investment banker, FTI Consulting, Inc., as financial advisor, Hilco Real Estate, LLC, as real estate advisor, and Prime Clerk LLC, as claims and noticing agent. AXE TACTICAL: Unsecureds to Split $50K via Quarerly Payments ------------------------------------------------------------ Axe Tactical LLC and Axe Capital Management LLC filed with the U.S. Bankruptcy Court for the Middle District of Florida a Joint Disclosure Statement describing Joint Plan of Reorganization dated June 11, 2026. In 2022, the Debtors' principal, Joeseph Williams, closed on a transaction to acquire the Gun Gallery in Jacksonville, Florida. At or around the closing of the sale, Mr. Williams established two separate entities: Tactical to operate the Gun Gallery, and Capital to own the underlying real estate. It was always the intent of Mr. Williams and the Debtors that Tactical would make pay all debts and obligations owed by Capital. However, Tactical saw a substantial decline in revenue as consumers' disposable incomes decreased at the conclusion of the COVID-19 lockdowns. Since Gun Gallery's purchase price, and consequently the debt financing the transaction, had been based on inflated COVID-19 lockdown revenue, Tactical no longer had the financial ability to debt service the Debtors' obligations. As a result, the Debtors filed their respective bankruptcy cases. Since the Petition Date, the Debtors have taken substantial steps to increase profitability. Mr. Williams has spent extensive time analyzing Tactical's operations to find additional revenue and decrease expenses. The Debtors have also reached an agreement with First Bank of the Lake, the Debtors' largest creditor, on adequate protection payments. Under the Plan, the Debtors are proposing total distributions of $50,000.00 to the general unsecured creditor body. These creditors would likely receive nothing if the Debtors were liquidated. Therefore, confirmation of the Plan and reorganization of the Debtors' debts is preferrable to a liquidation of the Debtors' assets. This Plan provides for seven classes of secured claims; one class of general unsecured claims, and one class of equity security holders. Unsecured creditors holding allowed claims will receive payment a pro rata distribution on their allowed claim over twenty quarterly payments. This Plan also provides for the payment of administrative and priority claims under the terms to the extent permitted by the Code or by agreement between the Debtor and the claimant. Class 8 consists of General Unsecured Claims. The Debtors will fund a total of 50,000 for payment of claims in this class. Claimants in this class will be paid a pro rata share of their allowed claim without interest, in sixteen equal quarterly payments of $3,125.00 commencing on the start of the calendar quarter immediately following the one-year anniversary of the Effective Date of the Plan and continuing quarterly thereafter. Promissory notes will be issued to each creditor in this class with allowed claims to evidence payments, which promissory notes shall be enforceable in any court of competent jurisdiction. The amount of the pro rata distribution will be considered final and binding thirty days after the filing of the Certificate of Substantial Consummation by the Debtor. This Class is impaired. Class 9 consists of Equity Secured Holders. Equity will retain ownership in the Debtor post-confirmation. No distributions will be made to equity until such time as all payments in Class 8 have been made. The Plan will be funded by the income generated through Tactical's regular business income. Joseph Williams will continue to manage the Debtors postconfirmation and will receive an annual salary of $200,000.00. A full-text copy of the Joint Disclosure Statement dated June 11, 2026 is available at https://urlcurt.com/u?l=64Lkdb from PacerMonitor.com at no charge. Counsel to the Debtors: Buddy D. Ford, Esq. Jonathan A. Semach, Esq. Heather M. Reel, Esq. Ford & Semach, PA 9301 West Hillsborough Avenue Tampa, FL 33615 Telephone: (813) 877-4669 Email: Buddy@tampaesq.com Email: Jonathan@tampaesq.com Email: Heather@tampaesq.com About Axe Tactical LLC Axe Tactical LLC operates a firearms retail store and shooting range under the Gun Gallery brand in Jacksonville, Florida. Axe Tactical LLC filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. M.D. Fla. Case No. 26-00935) on March 6, 2026, listing $260,692 in assets and $4,485,415 in liabilities. The petition was signed by Joseph Williams as managing member. Jonathan A Semach, Esq. at Ford & Semach, P.A. represents the Debtor as counsel. BARTRAM LOGISTICS: Gets Extension to Access Cash Collateral ----------------------------------------------------------- Bartram Logistics, LLC received another extension from the U.S. Bankruptcy Court for the Middle District of Tennessee to use cash collateral to fund operations. The court issued its 10th interim order authorizing the Debtor to use cash collateral until the next hearing scheduled for June 30. Use of such collateral must be in accordance with previous interim cash collateral orders and the latest budget, subject to a 10% variance. To protect the interests of pre-bankruptcy secured creditors, the court granted them replacement liens on post-petition cash collateral, which are automatically perfected without additional filings. The order also required all parties holding funds owed to the Debtor to immediately transfer them to the Debtor. The order is available at https://shorturl.at/zQpkH from PacerMonitor.com. Bartram Logistics' assets include cash accounts, accounts receivable, and inventory, which may constitute cash collateral. Studio Bank asserts a secured claim of approximately $530,000, claiming an interest in the Debtor's accounts receivable and other assets via a UCC-1 filed in 2024. First Chatham Bank (also known as Cadence Bank) asserts a secured claim of approximately $2.3 million, claiming similar interests via a UCC-1 filed on April 28. All other creditors with UCC-1 filings, per the Tennessee Secretary of State, are merchant cash advance lenders. Studio Bank, as secured creditor, is represented by: David M. Anthony, Esq. Exo Legal PLLC P.O. Box 121616 Nashville, TN 37212 Telephone: (615) 869-0634 Facsimile: (615) 307-6076 david@exolegal.com First Chatham Bank, as secured creditor, is represented by: Bryan J. Sisto, Esq. Frost Brown Todd LLP 400 W. Market Street, Suite 3200 Louisville, KY 40202 Telephone: (502) 589-5400 Facsimile: (502) 581-1087 bsisto@fbtlaw.com About Bartram Logistics LLC Bartram Logistics, LLC, doing business as Bartram Electric, operates as an electrical subcontractor providing installation and related services for construction projects in the Southeastern United States. The company focuses on multifamily, hotel, and restaurant developments and undertakes electrical scopes of work under general contractors. It has completed more than 70 projects in the region and continues to work on dozens of active and contracted assignments. Bartram Logistics sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Tenn. Case No. 25-03788) on September 9, 2025. In its petition, the Debtor reported between $1 million and $10 million in assets and liabilities. Honorable Bankruptcy Judge Randal S. Mashburn handles the case. The Debtor is represented by Erin Malone-Smolla, Esq., at Bradley Arant Boult Cummings, LLP. BEASLEY BROADCAST: Launches $5.2M ATM Offering With Noble Capital ----------------------------------------------------------------- Beasley Broadcast Group, Inc.announced in a regulatory filing that it entered into an Equity Distribution Agreement with Noble Capital Markets, Inc., as sales agent, pursuant to which the Company may sell, from time to time, up to an aggregate offering price of $5,235,810 million of shares of its Class A Common Stock, par value $0.001 per share, in an "at-the-market" equity offering program through the Sales Agent. Sales of shares of Class A Common Stock made pursuant to the Equity Distribution Agreement, if any, may be made by means of ordinary brokers' transactions on the Nasdaq Stock Market or otherwise at market prices prevailing at the time of sale or negotiated transactions, or as otherwise agreed with the Sales Agent. Actual sales will depend on a variety of factors to be determined by the Company from time to time, including, among other, market conditions, the trading price of the Class A Common Stock, capital needs and determinations by the Company of the appropriate sources of funding for the Company. The Equity Distribution Agreement contains customary representations, warranties and agreements of the Company, conditions to closing, indemnification rights and obligations of the parties and termination provisions. Any shares of Class A Common Stock sold will be offered and sold pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission on May 15, 2026 (File No. 333- 295967), and declared effective on June 4, 2026, a base prospectus, dated June 4, 2026, included as part of the Registration Statement, and a prospectus supplement, dated June 12, 2026, filed with the Securities and Exchange Commission pursuant to Rule 424(b) under the Securities Act of 1933, as amended. A full text of the Equity Distribution Agreement is available at https://tinyurl.com/3u2wswwc, and a copy of the opinion of Latham U& Watkins LLP relating to the issuance of the shares of Class A Common Stock is available at https://tinyurl.com/y2mwv3su About Beasley Beasley Broadcast Group -- http://www.bbgi.com-- is a multi-platform media company whose primary business is operating radio stations throughout the United States. The Company offers local and national advertisers integrated marketing solutions across audio, digital and event platforms. The Company owns and operates 49 AM and FM stations in the following large- and mid-size markets in the United States: Augusta, GA, Boston, MA, Charlotte, NC, Detroit, MI, Fayetteville, NC, Las Vegas, NV, Middlesex, NJ, Monmouth, NJ, Morristown, NJ, Philadelphia, PA, and Tampa-Saint Petersburg, FL. Los Angeles, California-based Crowe LLP, the Company's auditor since 2006, issued a "going concern" qualification in its report dated April 8, 2026, attached to the Company's Annual Report on Form 10-K for the year ended December 31, 2025, citing that the Company has a history of net losses and negative operating cash flows, expects to continue to incur additional losses in the near future and is currently in default on a portion of its debt that raise substantial doubt about its ability to continue as a going concern. As of December 31, 2025, the Company had $549.2 million in total assets, $402 million in total liabilities, and $147.2 million in total stockholders' equity. BELMONT TRADING: Amends Unsecureds & Priority Tax Claims Pay ------------------------------------------------------------ Belmont Trading Co., Inc. submitted a Third Amended Disclosure Statement in support of Amended Plan of Liquidation dated June 10, 2026. In summary, but subject to more specific details provided herein and, in the Plan, the treatment of claims under the Plan contemplates distributing the proceeds from the sale of the Debtor's assets that were sold under Section 363 of the Bankruptcy Code as approved by the court in Docket number 185 and recovery of the $16,373.79 shareholder balance. The Debtor estimates that the proceeds from the Section 363 sale conducted pursuant to Section 363 of the Bankruptcy Code total and recovered loan proceeds will be approximately $216,000.00, and that Allowed Administrative Expense Claims total approximately $160,000.00. Accordingly, to the extent funds remain after payment of Allowed Administrative Expense Claims, such remaining funds shall be applied toward payment of Allowed Priority Tax Claims in accordance with the priority scheme established by the Bankruptcy Code. The Priority class tax claims are discussed in section 4.4 of the plan. Class 4 consists of the Priority Claim of the Massachusetts Department of Revenue ("MDOR") MDOR filed a priority claim in the amount of $3,055.26 as claim number 3-1. Pursuant to Section 507(a)(8) of the Bankruptcy Code provides for a priority claim of taxes, the MDOR claim includes interest and late fee. Newco will Newco will pay the priority tax claim in full on the effective date. This Class is unimpaired and is not entitled to vote. Class 5 consists of General Unsecured Claims. After payment in full of all Allowed Administrative Expense Claims and all other Allowed Claims entitled to priority under section 507 of the Bankruptcy Code, any remaining Cash or other distributable value of the Estate shall be distributed to holders of Allowed General Unsecured Claims in accordance with the strict order of priority established by the Bankruptcy Code. Holders of Allowed General Unsecured Claims shall receive distributions only from amounts remaining after satisfaction of all senior Claims, including Administrative Expense Claims allowed under section 503(b) and priority Claims entitled to treatment under section 507 and section 1129(a)(9) of the Bankruptcy Code. To the extent the Estate lacks sufficient funds to pay all Claims of the same priority in full, distributions to holders of such Claims shall be made pro rata in accordance with the Bankruptcy Code, and no distribution shall be made on account of junior Claims unless and until all senior Claims are paid in full or otherwise satisfied as permitted by law The total of class 5 claims is estimated at $11,944,521.33. The Debtor estimates that after paying senior claims and distributing funds there will be no distributions available to unsecured claims. The Class is impaired and is entitled to vote. Class 6 consists of Equity Security Holder. The 100% of the Shares held by Igor Boguslavsky and Shmouel Yaari shall be canceled on the Effective Date of the Plan. The Equity shareholder shall not receive any distribution under the liquidating plan for their equity positions. As described, (a) Administrative Claims will be paid from operations by Newco; (b) priority Classes will be paid by Newco on the Effective Date; and (c) unsecured Classes will be paid by Newco from operations. A full-text copy of the Third Amended Disclosure Statement dated June 10, 2026 is available at https://urlcurt.com/u?l=EHG3It from PacerMonitor.com at no charge. Attorney for the Plan Proponent: O. Allan Fridman, Esq. LAW OFFICE OF O. ALLAN FRIDMAN 555 Skokie Blvd, Suite 500 Northbrook, IL 60062 Telephone: (847) 412-0788 Facsimile: (847) 412-0898 Email: allanfridman@gmail.com About Belmont Trading Belmont Trading Co., Inc., offers full-service value recovery and recycling services for mobile devices. Belmont Trading processes retired mobile devices and remarket and resell them. Belmont Trading sought protection under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Ill. Case No. 23-12083) on Sept. 12, 2023. In the petition signed by Igor Boguslavsky, president, the Debtor disclosed $2,575,764 in assets and $15,773,104 in liabilities. Judge Janet S. Baer oversees the case. O. Allan Fridman, Esq., at Law Office of Allan Fridman, is the Debtor's legal counsel. BIO-KEY INTERNATIONAL: Net Loss Widens To $7.16MM in FY2025 ----------------------------------------------------------- BIO-key International, Inc. has filed its Annual Report on Form 10-K for the fiscal year ended December 31, 2025, reporting a net loss increase to $(7,157,946) in 2025 from a net loss of $(4,300,692) in 2024. Revenue decreased $922,016 or 142% to $5,937,555 in 2025 as compared to $6,929,571 in 2024. Henderson, Nevada-based Bush & Associates CPA LLC, the Company's auditor since 2024, issued a "going concern" qualification in its report dated June 12, 2026, attached to the Company's Annual Report on Form 10-K for the year ended December 31, 2025, citing that the Company has suffered substantial net losses and negative cash flows from operations in recent years and is dependent on debt and equity financing to fund its operations, all of which raise substantial doubt about the Company's ability to continue as a going concern. Sources of Liquidity Since its inception, the Company's capital needs have been principally met through proceeds from the sale of equity and debt securities. The Company expects capital expenditures to be less than $100,000 during the next twelve months. The following sets forth the Company's primary sources of capital during the previous two years: On October 27, 2025, the Company entered into and closed a warrant exercise agreement with an existing institutional investor to exercise certain outstanding warrants to purchase an aggregate of 3,091,668 shares of common stock. The warrants were originally issued on January 15, 2025 and had an exercise price of $2.15 per share. In consideration for the immediate exercise of these warrants, the Company issued new unregistered warrants to purchase up to an aggregate of 6,183,336 shares of common stock at an exercise price of $1.02. The Company realized gross proceeds of approximately $3.1 million, prior to deducting placement agent fees and estimated offering expenses. On September 30, 2025, the Company entered into and closed a note purchase agreement which provided for the issuance of a $1,130,000 principal amount senior secured promissory note (the "2025 Note"). This resulted in gross proceeds of approximately $1,000,000 after deducting estimated offering expenses, and the original issue discount. The 2025 Note is due eighteen months (18) following the date of issuance, accrues interest at a rate of nine percent (9%) per annum, and commencing six months after the date of issuance, the lender shall have the right to redeem up to $135,000 of principal amount each month. In connection with the October 27, 2025 warrant exercise agreement described above, the Company prepaid approximately $450,000 of the amount due under the 2025 Note. As of the date of this report, the outstanding principal amount due under the 2025 Note is approximately $675,000. On January 15, 2025, the Company entered into a warrant exercise agreement with an existing institutional investor to exercise certain outstanding warrants to purchase an aggregate of 206,112 shares of common stock at an exercise price of $18.50 per share which were originally issued to the Investor on September 13, 2024. In consideration for the exercise of these warrants, the Company issued new warrants to the investor to purchase an aggregate 309,167 shares of common stock at an exercise price of $21.50 per share. The Company realized gross proceeds of approximately $3.8 million, prior to deducting placement agent fees and estimated offering expenses. On September 12, 2024, the Company entered into a warrant exercise agreement with the investor to exercise certain outstanding warrants to purchase an aggregate of 103,056 shares of common stock. The warrants were originally issued to the investor on October 31, 2023 and had an original exercise price of $31.50 per share. In consideration for the immediate exercise of these warrants, the Company reduced the exercise price of the warrants to $18.50 per share and issued to the Investor additional warrants to purchase an aggregate of 206,112 shares of common stock at an exercise price of $18.50 per share. The foregoing transaction resulted in gross proceeds of approximately $1.9 million prior to deducting placement agent fees and estimated offering expenses. On June 24, 2024, the Company entered into and closed a note purchase agreement which provided for the issuance of a $2,360,000 principal amount senior secured promissory note (the "2024 Note"). This resulted in gross proceeds of approximately $1,826,000 after deducting placement agent fees, estimated offering expenses, and the original issue discount. The 2024 Note was due eighteen months (18) following the date of issuance, accrues interest at a rate of nine percent (9%) per annum, and commencing six months after the date of issuance, the lender shall have the right to redeem up to $270,000 of principal amount each month. In connection with the warrant exercise agreements described above, the Company prepaid approximately $762,600 of the amount due under the 2024 Note. Pursuant to a series of exchange agreements in January 2025, the lender exchanged $859,000 principal amount due under the 2024 Note for 50,461 shares of common stock. As of the date of this report, the 2024 Note is fully paid. The Company entered into an accounts receivable factoring arrangement with a financial institution (the "Factor") which has been extended to October 2026 and may be discontinued at that time. Pursuant to the terms of the arrangement, from time to time, the Company sells to the Factor a minimum of $150,000 per quarter of certain of its accounts receivable balances on a non-recourse basis for credit approved accounts. The Factor remits 35% of the foreign and 75% of the domestic accounts receivable balance to the Company (the "Advance Amount"), with the remaining balance, less fees, forwarded to the Company once the Factor collects the full accounts receivable balance from the customer. In addition, from time to time, the Company receives over advances from the Factor. Factoring fees range from 2.75% to 15% of the face value of the invoice factored and are determined by the number of days required for collection of the invoice. The Company expects to continue to use this factoring arrangement periodically to assist with its general working capital requirements due to contractual requirements. Liquidity Outlook At December 31, 2025, the Company's total cash and cash equivalents were approximately $2,694,000, as compared to $438,000 at December 31, 2024. The Company has historically financed its operations through access to the capital markets by issuing secured and convertible debt securities, convertible preferred stock, common stock, and through factoring receivables. The Company currently requires approximately $750,000 per month to conduct its operations, a monthly amount that it has been unable to consistently achieve through revenue generation. During 2025, the Company generated approximately $5,900,000 of revenue, which did not generate enough cash to fully fund its average monthly cash requirements. The Company also has approximately $2.9 million of inventory (currently reserved) purchased for projects in Nigeria. The Company continues to explore other markets and opportunities to sell or return the product to continue to generate additional cash. If the Company is unable to generate sufficient revenue and positive cash flow from operations or liquidation of existing inventory to fund current operations and execute its business plan, it will need to obtain additional third-party financing during the next twelve months. The Company's long-term viability and growth will depend upon the successful commercialization of its technologies and its ability to obtain adequate financing. To the extent that the Company requires such additional financing, no assurance can be given that any form of additional financing will be available on terms acceptable to it, if at all, that adequate financing will be obtained to meet its needs, or that such financing would not be dilutive to existing stockholders. If available financing is insufficient or unavailable or the Company fails to continue to generate sufficient revenue, it may be required to further reduce operating expenses, delay the expansion of operations, be unable to pursue merger or acquisition candidates, or in the extreme case, not continue as a going concern. A full text copy of the Company's Form 10-K is available at https://tinyurl.com/ydexnuvu About BIO-key International BIO-key International Inc. provides identity and access management software and biometric authentication technology for enterprise, large-scale customer and civil ID applications. The company's platforms include BIO-key PortalGuard and hosted PortalGuard IDaaS, which combine biometric technology with multiple authentication factors to help customers control access to systems, applications and devices. BIO-key sells branded biometric and FIDO authentication hardware as accessories to its IAM platforms and operates a software-as-a-service business model supported by direct sales teams and channel partners. The company was founded in 1993 and is based in Holmdel, New Jersey. As of December 31, 2025, the Company had $8.30 million in total assets, $3.20 million in total liabilities, and $5.10 million in total stockholders' equity. BKR LLC: Has Deal on Cash Collateral Access ------------------------------------------- BKR LLC and New Omni Bank, NA Advise the U.S. Bankruptcy Court for the Central District of California, San Fernando Valley Division, that they have reached an agreement regarding the Debtor's use of cash collateral and now desire to memorialize the terms of this agreement into an agreed order. Prior to bankruptcy, the Debtor borrowed $4.2 million from New Omni Bank under a promissory note executed in May 2022. The loan was secured by a deed of trust against the hotel property located at 828 Real Road, Bakersfield, California, together with all related furniture, fixtures, equipment, rents, and personal property. As of the bankruptcy filing date, the Debtor owed approximately $4.4 million, plus accrued interest, fees, costs, and other recoverable charges. Because the hotel’s revenues and cash flow constitute the lender's collateral, New Omni asserts that it holds a security interest in the cash collateral generated by hotel operations and is entitled to adequate protection while the Debtor continues using those funds. The parties previously entered into an interim cash collateral agreement that was approved by the court on May 14, 2026, allowing the Debtor to operate under a six-week budget. The current stipulation extends and supplements that arrangement. It authorizes the Debtor to continue using cash collateral from the date the court approves the stipulation through the week ending July 5, 2026, unless terminated earlier by agreement, expiration of the period, or the occurrence of a default. During this period, the Debtor may use cash collateral only for expenses identified in a detailed thirteen-week operating budget, specifically for weeks seven through ten. Budget compliance is tightly controlled. In exchange for consenting to the continued use of cash collateral, New Omni will be granted replacement liens on substantially all postpetition assets of the Debtor, including tangible and intangible property and the proceeds thereof, to the extent its collateral declines in value due to the Debtor's use of cash collateral. These replacement liens are granted retroactively to the bankruptcy filing date and are senior to virtually all other claims and liens except for any preexisting liens that were validly senior as of the petition date. Additionally, New Omni receives a superpriority administrative claim under 11 U.S.C. sections 503(b) and 507(b), giving it enhanced priority if the replacement liens and other protections prove insufficient to compensate for any decline in collateral value. BKR LLC must also pay $32,983 to the lender according to the schedule established in the approved budget, with the first payment due within three business days after court approval. These payments must be made in immediately available funds and are not subject to reduction, offset, variance, or delay. The lender retains discretion regarding how such payments are applied between principal and accrued interest. Importantly, acceptance of these payments does not waive any of New Omni's rights under the loan documents and does not invalidate any prepetition foreclosure actions, notices of default, notices of trustee's sale, or other enforcement efforts that were initiated before the bankruptcy filing. The Debtor acknowledges delinquent Kern County property taxes and delinquent City of Bakersfield transient occupancy taxes. These unpaid taxes pose risks to both the Debtor's operations and New Omni's collateral position. The Debtor must continue complying with any payment arrangements previously negotiated with the county and city and must immediately notify New Omni of any changes in tax liabilities, defaults under payment agreements, or threatened enforcement actions. The Debtor is also required to remain current on all postpetition property taxes and transient occupancy taxes. Failure to comply with tax payment obligations or reporting requirements constitutes an event of default under the stipulation. The Debtor further agrees to continue negotiating in good faith with local taxing authorities and to resolve prepetition tax obligations through a confirmed Chapter 11 plan or subsequent court order. A hearing on the matter is set for June 24, 2026 at 1:30 p.m. A copy of the motion is available at https://urlcurt.com/u?l=NK2Glo from PacerMonitor.com. About BKR LLC BKR LLC, doing business as the Ramada Bakersfield North hotel, sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Calif. Case No. 26-10969) on May 5, 2026. In the petition signed by Michael P. Crane, managing member, the Debtor disclosed up to $10 million in both assets and liabilities. Judge Martin R. Barash oversees the case. Matthew D. Resnik, Esq., at RHM Law LLP, represents the Debtor as legal counsel. Omni Bank, N.A., as secured creditor, is represented by Aram Ordubegian , Esq., Annie Y. Stoops, Esq., and Jack C. Bistritz, Esq., at ARENTFOX SCHIFF LLP. BLACK SHEEP: Court Extends Cash Collateral Access to July 31 ------------------------------------------------------------ The U.S. Bankruptcy Court for the Northern District of Illinois, Eastern Division, issued a third interim order allowing The Black Sheep, Inc. to continue using cash collateral. The court authorized the Debtor to keep using cash collateral on an interim basis through July 31. This approval remains subject to the terms outlined in the previously entered initial cash collateral order. The order specifically incorporates the provisions of the amended order granting motion for entry of an order authorizing use of cash collateral and for shortened notice, which remains controlling except as modified by the current order. All rights, obligations, protections, and restrictions established in the prior cash collateral order continue to govern the debtor's use of cash collateral. The only substantive change made by the third interim order is the adoption of an extended operating budget. A copy of the court's order and the Debtor's budget is available at https://tinyurl.com/27fkpst5 from PacerMonitor.com. About The Black Sheep Inc. The Black Sheep, Inc., a marketing agency in Chicago, Illinois, specializes in connecting brands with college students across the United States through services including market research, field marketing, influencer campaigns, and paid advertising. Founded in 2008 by Atish Doshi as a satirical college newspaper at the University of Illinois, the company has expanded its network of student contributors and evolved its content to serve businesses and student housing properties nationwide. The Black Sheep filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. N.D. Ill. Case No. 26-01105) on January 22, 2026, listing between $100,001 and $500,000 in assets and between $1 million and $10 million in liabilities. Atish Doshi, president and chief executive officer, signed the petition. Neema Varghese of NV Consulting Services serves as Subchapter V trustee. The Debtor is represented by: Adam P. Silverman, Esq. Adelman & Gettleman, Ltd. Tel: 312-435-1050 ext 229 Email: asilverman@ag-ltd.com BLOOM HOTELS: Seeks to Extend Plan Exclusivity to Aug. 17 --------------------------------------------------------- Bloom Hotels 6060, LLC asked the U.S. Bankruptcy Court for the Southern District of Florida to extend its exclusivity periods to file a plan of reorganization and obtain acceptance thereof to Aug. 17 and Oct. 16, 2026, respectively. The Debtor explains that all nine of the Dow Corning factors weigh in favor of granting the Motion: * Case Size and Complexity. This is a complex $38-million condo-hotel redevelopment Chapter 11 case requiring the Debtor to negotiate with DPFI and the City to exit Chapter 11 with the necessary capital structure, redevelopment path, and clear title to the Property to begin the redevelopment stage with a target toward selling units, capturing customer deposits, and transitioning to permanent construction financing, which supports granting the Motion; * Sufficiency of Time to Negotiate a Plan. While the Debtor has been working for the past 120 days to formulate a plan, the financing component is just now coalescing and that component was a necessary pre-condition to meaningful negotiations with DPFI and the City, requiring additional time to attempt to negotiate a consensual plan (the preferred path), which supports granting the Motion; * The Debtor's Good Faith Progress Toward Reorganization. The Debtor has achieved substantial good faith progress toward confirmation in the last 120 days because it now has a clear redevelopment path selected and an identified plan sponsor group, which supports granting the Motion; * The Debtor's Post-Petition Payment Status. The Debtor is current on post-petition insurance premiums and UST fees, which supports granting the Motion; * The Debtor's Demonstration of a Reasonable Prospect for Confirmation. The Debtor's Property is valued on an "As Is" FMV basis at $38 million and that value is sufficient to support a confirmable Chapter 11 plan of reorganization that pays creditors in accordance with the terms of the Bankruptcy Code, thereby supporting granting the Motion; * The Debtor's Progress in Negotiating with Creditors. The Debtor initially engaged in negotiations with DPFI and the City but it became clear that a pre-condition to meaningful negotiations was a plan funding commitment, which the Debtor anticipates to finalize in the upcoming weeks, after which the Debtor can continue creditor negotiations from a meaningful position, so this factor supports granting the Motion; * The Amount of Time Elapsed in the Case. The Debtor has used the full 120 exclusivity period, but this is its first extension request and that request is a brief 60-day extension, which supports granting the Motion; * The Debtor's Motivation for Seeking to Extend Exclusivity. The Debtor is seeking to extend exclusivity in good faith to finalize its plan funding commitment and to exhaust negotiations with DPFI and the City to obtain a consensual path to confirmation if possible, so this factor supports the Motion; and * Existence of an Unresolved Contingency. The City lien mitigation structure is an unresolved contingency that impacts but does not determine the Debtor's chapter 11 plan viability, which supports granting the Motion. Bloom Hotels 6060 LLC is represented by: Kristopher E. Pearson, Esq. DAMIAN | VALORI | CULMO 1010 Brickel Avenue, Suite 1020 Miami, FL 33131 Telephone: (305) 371-3960 Email: kpearson@dvcattorneys.com About Bloom Hotels 6060 LLC Bloom Hotels 6060, LLC owns the real property and improvements at 6060 Indian Creek Drive in Miami Beach, Florida, a waterfront condo-hotel complex. Bloom Hotels 6060 sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 26-11867) on February 16, 2026, with between $10 million and $50 million in both assets and liabilities. Honorable Bankruptcy Judge Robert A. Mark handles the case. The Debtor is represented by Kristopher E. Pearson, Esq., at Damian Valori Culmo. BLUE CLOUDS: Gets Interim OK to Use Cash Collateral --------------------------------------------------- Blue Clouds Health Care Incorporated received interim approval from the U.S. Bankruptcy Court for the Northern District of Texas, Fort Worth Division, to use cash collateral. The court authorized the Debtor to use up to $37,000 in cash collateral on an interim basis in accordance with a 14-day budget, allowing it to continue operating while the Chapter 11 case proceeds. As adequate protection, any secured creditor holding a valid and perfected interest in the Debtor's pre-petition accounts receivable, cash, or proceeds will be granted replacement liens. The court also directed secured creditors, merchant cash advance lenders, payment processors, insurance payors, and clearinghouses to immediately cease any diversion, garnishment, sweep, setoff, or collection activity involving the Debtor's receivables and to turn over estate property to the Debtor. Insurance providers and related entities were ordered to remit post-petition payments directly to the debtor-in-possession account. Merchant cash advance lenders have allegedly redirected insurance reimbursement streams by intercepting electronic Explanation of Benefits payments from third-party insurers, effectively cutting off the Debtor's primary cash flow. As a result, the clinic reports critically low liquidity of approximately $689, despite maintaining a substantial accounts receivable base exceeding $519,000 and continuing to generate significant monthly billings. The Debtor said its operations remain fundamentally viable, employing seven staff members and providing essential medical and psychiatric services to thousands of patients. It reported recent monthly billings of approximately $178,935, with expected collections of roughly $79,999 per month based on historical recovery rates. However, the alleged diversion of insurance payments by MCA lenders has created an operational crisis that threatens imminent closure. The order is available at https://is.gd/usOIWh from PacerMonitor.com. About Blue Clouds Health Care Inc. Blue Clouds Health Care Incorporated, doing business as Treat Now Family Clinic and Treat Now Family Clinic and Psychiatry, sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Tex. Case No. 26-42540) on June 8, 2026. In the petition signed by Catherine O'Connor, president, the Debtor disclosed up to $50,000 in assets and up to $10 million in liabilities. Judge Edward L. Morris oversees the case. Clayton L. Everett, Esq., at Norred Law, PLLC, represents the Debtor as legal counsel. BREASHEARS ROOFING: Seeks Cash Collateral Access ------------------------------------------------ Breashears Roofing asks the U.S. Bankruptcy Court for the District of Colorado for authority to use cash collateral and provide adequate protection. The Debtor owns certain roofing supplies, a cargo trailer, and a utility trailer free of liens, while a 2023 Ram pickup truck and a 2013 telescopic forklift are encumbered by secured debt. The debtor maintains three bank accounts, including savings and checking accounts at ENT Credit Union and a checking account at Integrity Bank and Trust. As of the bankruptcy filing date, the company held approximately $47,815 in cash across these accounts, including approximately $43,916 in its Integrity Bank account. In addition, the debtor reports roughly $18,750 in outstanding accounts receivable that it believes are collectible. The Debtor identifies several creditors that may assert security interests in cash, receivables, and related assets. The largest claim belongs to the U.S. Small Business Administration arising from an Economic Injury Disaster Loan, with an outstanding balance of approximately $731,363. However, the Debtor states that it has been unable to locate evidence that the SBA properly perfected its security interest against the company’s assets. Capital Community Bank is identified as another secured creditor, owed approximately $70,815. According to the Debtor, Capital Community Bank appears to be the only creditor that has properly perfected a security interest through a filing with the Colorado Secretary of State, recorded on February 4, 2025. The Debtor notes that other lenders listed on its bankruptcy schedules may claim secured status but do not appear to have perfected their liens through state filings. The Debtor explains that its business model depends heavily on customer deposits received at the beginning of roofing projects. These deposits are used to purchase materials and supplies needed to perform the work, while remaining project costs are paid as jobs progress and are completed. Without access to cash collateral, the company asserts it would be unable to purchase materials, pay employee wages, replenish inventory, or continue normal operations. The Debtor contends that the resulting business shutdown would destroy going-concern value and significantly reduce recoveries available to creditors. To address creditor concerns, the Debtor proposes several forms of adequate protection. First, it will grant secured creditors replacement liens on all postpetition accounts receivable, income, and other assets generated from business operations to the extent that use of cash collateral diminishes the value of their existing collateral. These replacement liens would maintain the same relative priority as any valid prepetition liens. Second, the Debtor agrees to use cash collateral only in accordance with a court-approved budget, with deviations from individual line items limited to 15% absent creditor consent or further court authorization. Third, the Debtor commits to maintaining insurance coverage on all collateral, preserving collateral in good condition, and providing monthly financial reporting through the required bankruptcy operating reports. A copy of the motion is available at https://urlcurt.com/u?l=t80mZ2 from PacersMonitor.com. About Breashears Roofing Breashears Roofing sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Colo. Case No. 26-14092-TBM) on June 8, 2026. In the petition signed by Mark Breashers, president, the Debtor disclosed up to $500,000 in assets and up to $10 million in liabilities. Judge Thomas B. McNamara oversees the case. Jonathan M. Dickey, Esq. represents the Debtor as legal counsel. BREWSTER HEIGHTS: Seeks $50MM DIP Loan from Sandton Capital ----------------------------------------------------------- Brewster Heights Packing & Orchards, LP and affiliates ask the U.S. Bankruptcy Court for the Eastern District of Washington for authority to use cash collateral and obtain postpetition financing. In the proposed DIP Facility, Sandton Capital Solutions Master Fund VI, LP will provide committed, non-revolving advances of up to $25 million on an interim basis, and up to $50 million in the aggregate on a final basis, featuring 12.5% per annum PIK interest, a minimum multiple of invested capital of 1.125x, and various 2% transaction fees. This funding is deemed crucial to stabilize farming and corporate operations, particularly during the vital apple and cherry harvest seasons, and to avoid an immediate cessation of operations or conversion to a Chapter 7 liquidation. The Debtors request the granting of senior secured priming liens, superpriority administrative expense status, and a limited modification of the automatic stay to secure the financing. The DIP Facility is slated to mature at the earliest of a plan's effective date, the closing of a sale of substantially all assets, or nine months from the petition date (with a three-month extension option). It establishes a strict timeline for the estates, requiring a final DIP order within 35 days, a bidding deadline within 75 days, an auction within 85 days, and a final sale closing within 120 days of the petition date. The Debtors argue that entering into this agreement represents a sound exercise of business judgment, achieved through arm's-length negotiations after exploring a highly limited financing market. The Debtors are required to comply with these milestones: 1. Day 3: Entry of the Interim DIP Order by the court. 2. Day 14: Filing of the formal asset Bid Procedures Motion. 3. Day 35: Entry of both the Final DIP Order and the Bid Procedures Order. 4. Stalking Horse Milestone: A Stalking Horse bid (an initial binding bid on bankrupt assets used to set a floor price) must be locked in 35 days prior to the final bidding deadline. 5. Day 75: Hard deadline for all competitive market bids. 6. Day 85: Execution of the formal asset Auction. 7. Day 120: Final closing of the sale transferring substantially all operating orchard assets to the winning buyers. The Debtors have a complex prepetition debt structure, which includes a substantial secured debt of not less than $162,340,000 owed to The Prudential Insurance Company of America. Prudential holds liens on the bulk of the Debtors' real and personal property and has consented to being primed by the new DIP facility. Additionally, the Debtors owe BMO Bank, NA at least $65,401,252 across syndicated and real estate loan agreements. BMO's prepetition liens cover accounts, inventory, and specific real estate, but explicitly exclude the 2026 crop. The new DIP facility preserves "Permitted Senior Liens" that will not be primed, which encompasses BMO's interests in the 2025 crop collateral, specific real estate at 125 North Star Road in Brewster, Washington, senior rolling stock, existing equipment purchase money security interests, and prior mortgages held by Happy Valley USA Credit III, LLC ($4.2 million) and North Cascades National Bank ($1.4 million). Furthermore, the 2026 orchard crop is already encumbered by a $8 million first-priority prepetition Crop Loan from Backstop Ag Capital, which was established on March 25, 2026, to fund initial harvest preparations and bankruptcy advisor costs. All assets encumbered by these Permitted Senior Liens will be subject to junior liens under the new DIP arrangement, while all unencumbered assets will grant the DIP lender first-priority security status. A copy of the motion is available at https://urlcurt.com/u?l=9VKuJl from PacerMonitor.com. About Brewster Heights Packing & Orchards, LP Brewster Heights Packing & Orchards, LP sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Wash. Case No. 26-01136-FPC11) on June 4, 2026. In the petition signed by Brooke McGuire, chief financial officer, the Debtor disclosed up to $500 million in assets and liabilities. Judge Frederick P. Corbit oversees the case. Thomas A. Buford, Esq., at Bush Kornfeld LLP, represents the Debtor as legal counsel. BRIGHT SIDE: Gets Interim OK to Use Cash Collateral Until July 10 ----------------------------------------------------------------- Bright Side Plumbing, LLC received interim approval from the U.S. Bankruptcy Court for the District of Kansas to use cash collateral. Under the interim order, the Debtor is authorized to use cash collateral through July 10 to pay expenses in accordance with the court-approved budget. At the time of filing, the Debtor had approximately $30,000 in its bank accounts. The Debtor's secured creditors include Live Oak Bank, Ally Financial, Centra Funding, Financial Pacific, PNC Bank, Synchrony Bank, U.S. Bank, and Westlake Financial Services. Live Oak Bank, the largest secured creditor, holds an SBA-backed loan secured by substantially all of the Debtor's inventory, cash, supplies, and tools, with an estimated balance of $250,000. Secured creditors will be granted adequate protection through replacement liens on the Debtor's post-petition personal property, with the same priority and extent as their pre-petition liens. These replacement liens do not apply to avoidance actions. Additional safeguards include monthly payments to secured creditors and maintaining insurance coverage on the collateral. The interim order provides for a $3,000 carveout for Subchapter V trustee fees. The order is available at https://is.gd/dzNeoz from PacerMonitor.com. A final hearing is scheduled for July 8. About Bright Side Plumbing LLC Bright Side Plumbing, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Kan. Case No. 26-20849) on June 5, 2026. In the petition signed by Stephanie Velasquez, chief executive officer and owner, the Debtor disclosed up to $500,000 in assets and up to $1 million in liabilities. Judge Dale L. Somers oversees the case. George J. Thomas, Esq., at Phillips & Thomas LLC, represents the Debtor as legal counsel. BUILTTOSUIT USA: Tarek Kiem Named Subchapter V Trustee ------------------------------------------------------ The Acting U.S. Trustee for Region 21 appointed Tarek Kiem, Esq., at Kiem Law, PLLC as Subchapter V trustee for Builttosuit USA, LLC. Mr. Kiem 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. Kiem declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Tarek Kiem, Esq. Kiem Law, PLLC 8461 Lake Worth Road, Suite 114 Lake Worth, FL 33467 Tel: (561) 600-0406 tarek@kiemlaw.com About Builttosuit USA LLC Builttosuit USA, LLC filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. S.D. Fla. Case No. 26-17598) on June 10, 2026, with $1 million to $10 million in assets and $500,001 to $1 million in liabilities. Craig I. Kelley, Esq., represents the Debtor as legal counsel. BULLET ENERGY: Gets Interim OK to Use Cash Collateral Until Oct. 30 ------------------------------------------------------------------- The U.S. Bankruptcy Court for the Eastern District of Oklahoma granted Bullet Energy Services, LLC interim authority to use the cash collateral of North Avenue Capital, LLC. Under the interim order, the Debtor is authorized to use cash collateral, including cash on hand and operating revenues, to fund expenses outlined in its approved budget from the petition date of May 13 through Oct. 30. North Avenue Capital's collateral includes accounts receivable, lease interests, machinery, equipment, furniture, and fixtures. As adequate protection, North Avenue Capital will be granted valid and perfected replacement liens on the Debtor's post-petition assets, principally accounts receivable, excluding proceeds of avoidance actions. The lender is also entitled to an administrative expense claim under Bankruptcy Code Section 507(b) to the extent replacement liens and other protections prove insufficient. In addition, the Debtor is required to make monthly payments of $70,000, beginning this month and continuing on the 15th of each month until further court order or confirmation of a reorganization plan. Additional safeguards include monthly financial reporting, insurance coverage, timely payment of taxes related to collateral, and collateral inspections upon notice. A default occurs if the Debtor fails to make adequate protection payments or exceeds its budget by more than 10%, potentially allowing the lender to seek relief from the automatic stay after a cure period. The order is available at https://is.gd/pZfewk from PacerMonitor.com. A final hearing is scheduled for July 15, with objections due at least five business days before the hearing. About Bullet Energy Services, LLC Bullet Energy Services, LLC provides oilfield transportation and fluid-handling services, including the hauling of completion fluids, production water, oil-based mud and other liquids for energy-sector customers. The Velma, Oklahoma-based company operates as an authorized for-hire carrier with a tanker fleet and also focuses on saltwater disposal and related oilfield service operations in south-central Oklahoma. Bullet Energy Services, LLC sought protection under Chapter 11 of the Bankruptcy Code (Bankr. E.D. Okla. Case No. 26-80451) on May 8, 2026. At the time of the filing, Debtor had estimated assets of between $1,000,001 to $10 million and liabilities of between $10,000,001 to $50 million. Judge Paul R Thomas oversees the case. McDonald Law, PLLC is Debtor's legal counsel. BUNTING GRAPHICS: Plan Exclusivity Period Extended to Aug. 12 ------------------------------------------------------------- Judge Gregory Taddonio of the U.S. Bankruptcy Court for the Western District of Pennsylvania extended Bunting Graphics, Inc.'s excusive periods to file a plan of reorganization and obtain acceptance thereof to Aug. 12 and Sept. 3, 2026, respectively. As shared by Troubled Company Reporter, the Debtor maintains that sufficient cause exists for an extension of the filing deadlines and the Exclusivity Periods. First, the Debtor has been working with First National Bank of Pennsylvania and other key stakeholders on various paths for a successful reorganization. While these discussions are ongoing, additional time is needed in order to propose a plan. Second, the Debtor is employing Meridian Management Partners, LLC, as Consultant for the Debtor-in-Possession to allow a third-party professional to analyze any potential sale of the Debtor and possibly procure a buyer. Third, the Debtor is working to finalize the Liquidating Trust documents that will accompany the Amended Chapter 11 Plan and Disclosure Statement. The Debtor asserts that its creditor will not be prejudiced by the requested extensions. On the contrary, the Debtor's creditors will be best served with an extension of the Exclusivity Periods. About Bunting Graphics Bunting Graphics, Inc., is a specialty contractor offering products and services in architectural signage and ornamental metal markets. Its main services include engineering, fabrication, installation, and project management. Bunting Graphics, Inc., filed a Chapter 11 bankruptcy petition (Bankr. W.D. Pa. Case No. 25-22741) on Oct. 9, 2025. The Debtor tapped Calaiaro Valencik as counsel. Bunting Graphics' counsel can be reached at: David Z. Valencik, Esq. CALAIARO VALENCIK 555 Grant Street, Suite 300 Pittsburgh, PA 15219 Telephone: (412) 232-0930 Facsimile: (412) 232-3858 E-mail: dvalencik@c-vlaw.com C & S RESTAURANT: Gets Interim OK to Use Cash Collateral -------------------------------------------------------- The U.S. Bankruptcy Court for the Middle District of Florid granted C & S Restaurant Group, LLC third interim approval to use cash collateral. Under the third interim order, the Debtor is authorized to use cash collateral to cover ordinary and necessary business expenses, including payments to the Subchapter V trustee, in accordance with an approved budget. The Debtor may exceed budgeted line items by up to 10% without further court approval but cannot pay insider or management compensation without a separate court order. All customers and entities owing money to the Debtor are directed to pay the Debtor directly, and such funds will constitute cash collateral. As adequate protection, secured creditors will be granted post-petition liens on cash collateral, with the same validity, priority and extent as their pre-petition liens, without requiring additional filings. Additional safeguards include maintaining insurance coverage, allowing access to records and premises for inspection, and complying with all obligations under bankruptcy law. A continued hearing is scheduled for July 29. C & S earns revenue from food, alcoholic and non-alcoholic beverage sales via cash, credit, and debit transactions. Total assets are $70,681, including $60,480 in equipment and furnishings, $10,100 in cash, and no receivables. Several merchant cash advance (MCA) lenders -- Radiance Funding Management, LLC; Fenix Capital Funding; Highland Hill Capital LLC; Ascentium Capital; and ODK Capital, LLC -- may claim secured status or ownership of the Debtor's future receivables. The Debtor disputes this, asserting that at least some are junior UCC lienholders who should be treated as unsecured because the Debtor lacked the ability to sell future receivables, the liens do not attach to post-petition receivables, and the agreements may be unenforceable under state and federal law. About C & S Restaurant Group LLC C & S Restaurant Group, LLC operates Buster's Sports Tavern, a casual full-service restaurant and sports tavern in Fort Myers, Florida, offering made-to-order meals, alcoholic beverages, and a sports-oriented dining experience. The company is registered in Florida as a limited liability company and manages its restaurant operations from its main location on McGregor Boulevard. C & S Restaurant Group filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. M.D. Fla. Case No. 26-00517) on March 6, 2026, with $70,681 in assets and $1,528,291 in liabilities. Scott T. Iannelli, managing member, signed the petition. Judge Luis Ernesto Rivera II presides over the case. Joseph Trunkett, Esq., at Trunkett Law FIRM, LLC represents the Debtor as bankruptcy counsel. Michael Markham, Esq., serves as Subchapter V trustee for the Debtor. CACERES SPECIALIZED: Affiliate Gets OK to Use Cash Collateral ------------------------------------------------------------- REJUV Cosmetic Surgery Institute and Spa, LLC, an affiliate of Caceres Specialized Gynecology, LLC, received interim approval from the U.S. Bankruptcy Court for the Middle District of Florida to use cash collateral. Under the order, REJUV is authorized to use cash collateral through July 14 to pay the expenses set forth in the interim budget. Spending is limited to a maximum variance of 10% from budgeted amounts, and the Debtor is prohibited from paying professional fees or debt obligations during the interim period unless separately authorized by the court. The order also authorizes payment of the Subchapter V Trustee's interim compensation of $1,000 per month. As adequate protection for secured creditors, First Citizens Bank and Trust Company and other secured lenders will be granted replacement liens on post-petition cash collateral, to the same extent, validity, and priority as their pre-petition liens. These replacement liens automatically attach without the need for additional filings and secure the debtors' obligations to the respective secured lenders during the interim authorization period. The court scheduled a continued preliminary hearing for July 14. The order preserves the rights of the U.S. Trustee, creditors, and other parties in interest to seek modifications, additional adequate protection, or restrictions on the use of cash collateral, while also preserving the debtor's right to seek further relief. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/QAX6j from PacerMonitor.com. About Caceres Specialized Gynecology, LLC Caceres Specialized Gynecology, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Flo. Case No. 26-04100) with $1,000,001 to $10 million in assets and $1,000,001 to $10 million in laibilities. The petitions were signed by Aileen Caceres as manager. The Debtor is represented by: R Scott Shuker Shuker & Dorris, P.A. Tel: 407-337-2060 Email: rshuker@shukerdorris.com CACERES SPECIALIZED: Gets Interim OK to Use Cash Collateral ----------------------------------------------------------- Caceres Specialized Gynecology, LLC received interim approval from the U.S. Bankruptcy Court for the Middle District of Florida to use cash collateral. Under the order, the Debtor may use cash collateral through July 14 to pay necessary operating expenses and administrative costs in accordance with an approved interim budget. Spending is subject to a 10% variance cap on budgeted line items, and professional fees and debt-service payments may not be made during the interim period unless separately authorized by the court. The order also permits payment of the Subchapter V Trustee's interim compensation of $1,000 per month. As adequate protection, First Southern Bank and any other secured lenders will be granted perfected post-petition replacement liens on cash collateral, maintaining the same validity, extent, and priority as their pre-petition liens without requiring additional filings or documentation. The replacement liens secure the obligations owed to the respective secured lenders during the interim period. The order preserves the rights of the U.S. Trustee, creditors, and other parties in interest to object, seek additional protections, or request modifications to the cash collateral arrangements at a later stage of the case. The court scheduled a continued preliminary hearing for July 14. A copy of the court's order and the Debtor's budget is available at https://tinyurl.com/mryzc68x from PacerMonitor.com. About Caceres Specialized Gynecology LLC Caceres Specialized Gynecology, LLC is a gynecology practice with locations in Kissimmee and Celebration, Florida. Caceres Specialized Gynecology and three affiliates filed petitions under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. M.D. Fla. Lead Case No. 26-04100) on June 1, 2026. At the time of the filing, Caceres Specialized Gynecology reported $1 million to $10 million in both assets and liabilities. R. Scott Shuker, Esq., at Shuker & Dorris, P.A. represents the Debtors as legal counsel. CALIFORNIA RESOURCES: Moody's Rates New Senior Unsecured Notes 'B1' ------------------------------------------------------------------- Moody's Ratings assigned a B1 rating to California Resources Corporation's (CRC) proposed new senior unsecured notes. The rating outlook is stable. CRC's existing ratings, including its Ba3 Corporation Family Rating, are unchanged. "CRC will use the proceeds from the offering and funds from other sources to refinance all of its existing $550 million senior unsecured notes due 2029," said Thomas Le Guay, a Moody's Ratings Vice President. "The transaction is leverage neutral and will extend its debt maturity profile." RATINGS RATIONALE The proposed senior unsecured notes are rated B1, one notch below the Ba3 CFR and the same level CRC's existing senior unsecured notes, reflecting the effective subordination of the unsecured notes to the significant size of the $1.15 billion senior secured revolving credit facility which has a first lien claim on all oil & gas assets. The Ba3 CFR reflects CRC's track record of maintaining low leverage, positive free cash flow generation and financial flexibility. The company benefits from its large production scale and legacy production with significant infrastructure as one of the largest operators in California. CRC has a well-defined, mature asset base, which has a relatively shallow decline rate of 10% to 15% per year. The company is pursuing a low carbon intensity strategy that includes developing carbon management and solar business opportunities as well as targeting an 80% reduction in scope 1 and 2 greenhouse gas emissions by 2045. CRC gained important operational freedom from California Senate Bill 237, signed into law on September 19, 2025. The bill authorizes Kern County to issue new well permits for ten years starting January 2026 and streamlines the permitting process. This significantly broadens CRC's ability to drill its acreage and exploit its reserves, the vast majority of which are located in Kern County. CRC's CFR also incorporates the high operating costs of its enhanced oil recovery operations. The company's margins are modest compared to peer companies in other US basins, despite the benefits from receiving close to Brent pricing, making it relatively less resilient to periods of lower oil prices. The company also has large asset retirement obligations (AROs) totaling $1 billion as of March 31, 2026. CRC will continue to be subject to a degree of regulatory risk related to the concentration of its operations in California. While the most recent regulatory developments were positive for the company, the numerous and ongoing changes to the regulation of oil & gas operations in California and related legal challenges continue to pose significant risk for the company. The stable outlook reflects Moody's expectations that CRC will maintain its prudent financial policies in the current oil price environment, achieving significant positive free cash flow while gradually increasing its production volumes. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATING CRC's ratings could be upgraded if the company demonstrates its ability to increase production and replace reserves at competitive returns on investment, enhance its diversification either geographically or through other revenue streams, all while maintaining a strong financial profile. To support an upgrade, the company should increase its leveraged full cycle ratio (LCFR) above 2x and sustain RCF to debt over 50% at mid-cycle oil and gas prices. More visibility on the capital requirements and free cash flow generation of CRC's carbon management projects would also be considered for an upgrade. The ratings may be downgraded if there is a substantial increase in leverage to fund acquisitions or shareholder returns or if the company experiences a meaningful decline in production. A downgrade could occur if RCF to debt falls below 30% or LFCR falls towards 1.0x. California Resources Corporation, headquartered in Long Beach, California, is a publicly-listed independent oil and gas exploration and production company operating in California. The company produced an average of 154 Mboe/d in the first quarter of 2026, of which 81% was oil, from its operations in the San Joaquin, Los Angeles and Sacramento and Uinta basins. The company had around 10 years of proved developed reserves as of December 31, 2025. CRC is also developing a low carbon business with potential carbon capture and sequestration (CCS), direct air capture (DAC) and solar projects. Carbon TerraVault JV is a joint venture with BGTF Sierra Aggregator LLC (Brookfield) established to finance and develop a carbon capture and sequestration (CCS) business. The principal methodology used in this rating was Independent Exploration and Production published in February 2026. CANTOR GROUP: Seeks to Extend Plan Filing Deadline to Sept. 9 ------------------------------------------------------------- Cantor Group III, LLC asked the U.S. Bankruptcy Court for the Central District of California to extend its deadline to file disclosure statement and plan to Sept. 9, 2026. This is a single asset real estate case involving a retail shopping center located at 9618- 9622 Garden Grove Blvd., Garden Grove, CA 92844 (the "Property"). The Property was appraised in February 2026 as having an "as is" market value of $22,240,000. The Debtor explains that although the plan will not be a complicated one given that it will be funded in substantial part through a sale of the Property, the company does not currently have accurate financial information that will support its feasibility. The Debtor is going to need to continue to operate pending the sale and it is presently unclear whether the Debtor has sufficient cash flow without a source of financing to get through a sale of the Property. The Debtor claims that it is under new management so lacks historical knowledge of the company's financial conditions and the historical financials may not have been entirely accurate in any event. To allow the Debtor sufficient time to gauge its financial performance and determine exactly how it will exit this case, the Debtor requires additional time to formulate its disclosure statement and plan. Accordingly, the Debtor requests that the Court modify the Scheduling Order to provide that the Debtor may have until Sept. 9, 2026, to file its disclosure statement and plan and extend the exclusivity deadlines by ninety days. Proposed Counsel for the Debtor: RAINES FELDMAN LITTRELL LLP Kyra E. Andrassy, Esq. Robert S. Marticello, Esq. Stephen M. Mott, Esq. 4675 MacArthur Court, Suite 1550 Newport Beach, CA 92660 Telephone: (310) 440-4100 Facsimile: (310) 691-1943 About Cantor Group III LLC Cantor Group III, LLC, is a California-based investment and asset management company engaged in business development and portfolio oversight activities. Cantor Group III sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Cal. Case No. 26-10416) on Feb. 11, 2026. In its petition, the Debtor reported between $10 million and $50 million in both assets and liabilities. Bankruptcy Judge Scott C. Clarkson handles the case. The Debtor is represented by William J. Wall, Esq., at Wall & Son. CAROLINA EARTHWERX: Hearing Today on Bid to Use Cash Collateral --------------------------------------------------------------- The U.S. Bankruptcy Court for the Eastern District of North Carolina, New Bern Division, is set to hold a hearing today to consider extending Carolina Earthwerx, LLC's authority to use cash collateral. The Debtor's authority to use cash collateral under the court's June 17 interim order expires today. The Debtor needs access to cash collateral to pay operating expenses to continue functioning while reorganizing. This cash collateral includes funds in bank accounts, accounts receivable, and other proceeds from business operations. Under the interim order, the Debtor was authorized to use cash collateral based on its latest budget covering the period from June 1 to 30. The 30-day budget shows total operational expenses of $43,636.81. The interim order granted secured creditors adequate protection through replacement liens on collateral and certain post-petition assets of the Debtor. The secured creditors that may have liens on the cash collateral are Commercial Credit Group, Inc. and Commercial Credit, Inc., which hold several UCC financing statements. In addition, CT Corporation System is listed as having filed a UCC-1 financing statement on behalf of an unidentified secured creditor. The Debtor recognizes that these creditors may have enforceable security interests in cash and receivables that qualify as cash collateral. About Carolina Earthwerx LLC Carolina Earthwerx, LLC provides excavation, grading, and land-clearing services in eastern North Carolina. Carolina Earthwerx filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. E.D. N.C. Case No. 26-02509) on June 3, 2026, with up to $500,000 in assets and up to $10 million in liabilities. Cody Kubinak, member, signed the petition. Judge Pamela W. McAfee oversees the case. George Mason Oliver, Esq., at The Law Offices of George Oliver, PLLC, represents the Debtor as bankruptcy counsel. The U.S. Bankruptcy Administrator for the Eastern District of North Carolina appointed John Rhyne as Subchapter V trustee for the Debtor. CEDAR VALLEY: Seeks to Extend Plan Exclusivity to Aug. 11 --------------------------------------------------------- Cedar Valley Cypress TX LLC and affiliates asked the U.S. Bankruptcy Court for the Northern District of Texas to extend their exclusivity periods to file a plan of reorganization and obtain acceptance thereof to Aug. 11 and Oct. 12, 2026, respectively. The Debtors believe that the requested extension of the Exclusivity Periods is warranted and appropriate under the circumstances. The Debtors have made and continue to make progress in good faith toward a chapter 11 exit strategy. The Debtors claim that they are not seeking to extend exclusivity to pressure or prejudice creditors, but rather to provide additional time to implement an efficient resolution of these chapter 11 cases in favor of all parties in interest. Termination of the Debtors' Exclusivity Periods at this stage would be counterproductive. Lastly, and importantly, the Debtors have continued to maintain the highest standards for patient care at the Debtors' Facility. Counsel to the Debtors: Jason S. Brookner, Esq. Emily F. Shanks, Esq. Gray Reed 1601 Elm Street, Suite 4600 Dallas, TX 75201 Tel: (214) 954-4135 Fax: (214) 953-1332 Email: jbrookner@grayreed.com eshanks@grayreed.com About Cedar Valley Cypress TX LLC Cedar Valley Cypress TX LLC and affiliates form a network of for profit healthcare companies that own and manage skilled nursing and rehabilitation centers. The group oversees facilities such as Cedar Valley Nursing & Rehabilitation Center in Cedartown, Georgia, and operates through related entities providing administrative and clinical support. The companies share common ownership under the Cypress structure, which manages nursing home operations in Texas, New York, and Georgia. Cedar Valley Cypress TX sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Tex. Case No. 25-34017) on Oct. 13, 2025. In its petition, the Debtor reported between $50,000 and $100,000 in both assets and liabilities. Judge Stacey G. Jernigan handles the case. The Debtor is represented by Jason S. Brookner, Esq., at Gray Reed. Melanie S. McNeil is the patient care ombudsman appointed in the Debtor's case. CIG MM: Unsecureds to be Paid in Full via Quarterly Payments ------------------------------------------------------------ CIG MM, LLC and MSUR MM, LLC filed with the U.S. Bankruptcy Court for the Southern District of New York a Joint Disclosure Statement describing Joint Plan of Reorganization dated June 9, 2026. The Debtors jointly own, as tenants in common, a majority interest in a garden apartment complex located at 475 West Broadway A/K/A 69 Moon Manor Road, Monticello, New York 12701. Following contested defaults related to the Property Condition Assessment (the "PCA") prepared by EBI Consulting, the Lender commenced a foreclosure action captioned Federal National Mortgage Association v. CIG MM LLC, et al., Index No. E2026-345 (the "Action"). As emphasized throughout the Plan, the Debtors' primary goal in seeking Chapter 11 relief is to restructure the underlying Mortgage debt through a cure and reinstatement so as to permit the Debtors to maintain ownership of their real property, consisting of a garden apartment complex located at 475 West Broadway A/K/A 69 Moon Manor Road, Monticello, New York 12701. The Plan, if confirmed, accomplishes this goal, plus pays other creditors as well. The Debtors' equity holders are prepared to contribute the necessary capital to meet the requirements of Section 1124(2) of the Bankruptcy Code and therefore reverse the pre-petition acceleration of the Mortgage and reinstate Mortgage's original maturity date. The Debtors compute (without default interest) that the total cure amount aggregates $172,709.86 (the "Cure"), inclusive of potential tax reserves. Given that the Lenders' claims are unimpaired, the Debtors are not formally seeking the Lender's vote and anticipate certain objections to the Plan. Doubtless, the Lender prefers to proceed with its Claim against the Debtors in state court. However, the Lenders' state law rights must give way to the policy considerations of Congress, enumerated in the Bankruptcy Code, as will be determined by the Bankruptcy Court. All of the Debtors other creditors stand to benefit from the Plan, which provides for the payment of allowed administrative, priority, and general unsecured claims. Class 2 consists of the allowed Non-Insider Unsecured Claims, primarily pre-petition vendors and service providers. Each holder of an allowed Class 2 Unsecured Claim shall receive payment in full in quarterly installments over a period of one year from the Effective Date of the Plan. The holders of Class 2 Unsecured Claims are impaired and entitled to vote. Class 4 consists of the membership interests of the Debtors' equity holders. The existing pre-petition Equity Interests in the Debtors shall be continued in the same percentage in the Reorganized Debtors as permitted by virtue of the New Value Contributions. The holders of the Class 4 Equity Interests are not eligible to vote because of their insider status. The Plan shall be funded by and through the New Value Contribution totaling $545,663.85. On the Effective Date, the Property and all other assets of the Debtors shall revest in the Reorganized Debtors subject only to the Mortgage held by the Lender as cured which shall continue post-petition in accordance with all reinstated terms and conditions. The Plan's feasibility will be supported by the escrow, plus the benefits of a stable, income-producing nature of the Property. The Property currently generates approximately $60,000 per month in gross rental income, with the potential to increase revenues to over approximately $90,000 per month upon the lease-up of existing vacancies. This rental income is sufficient to cover ongoing operating expenses, real estate taxes, and reinstated debt service obligations under the Mortgage. The Debtors intend to escrow the Cure plus other amounts individually due on the effective date in escrow prior to the start of the confirmation hearing. The funds necessary to consummate the Plan, including payment of Administrative Expense Claims, Priority Tax Claims, and the Cure amount owed to the Lender, will be funded from the New Value Contribution. The New Value Contribution is sufficient to fully fund the Plan without the need for additional borrowing or speculative refinancing. A full-text copy of the Joint Disclosure Statement dated June 9, 2026 is available at https://urlcurt.com/u?l=xwuO0G from PacerMonitor.com at no charge. Proposed Counsel for the Debtors: Goldberg Weprin Finkel Goldstein LLP Kevin J. Nash, Esq. 125 Park Avenue, 12th Floor New York, NY 10017 About CIG Mm LLC CIG MM, LLC, and its affiliate MSUR MM, LLC, jointly own, as tenants in common, a majority interest in a garden apartment complex located at 475 West Broadway A/K/A 69 Moon Manor Road, Monticello, New York 12701. CIG MM and MSUR MM sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Lead Case No. 26-35306) on March 24, 2026. In its petition, CIG MM listed assets ranging from $1 million to $10 million and liabilities in the same range. Bankruptcy Judge Kyu Young Paek presides over the case. The Debtor is represented by J. Ted Donovan, at Goldberg Weprin Finkel Goldstein, LLP. CIRCLE D TRUCK: Seeks Chapter 11 Bankruptcy in Texas ---------------------------------------------------- On June 8, 2026, Circle D Truck Sales Inc. filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Northern District of Texas. According to court filings, the Debtor reports between $1 million and $10 million in debt owed to between 1 and 49 creditors. A meeting of creditors under Section 341(a) to be held on July 15, 2026 at 04:00 PM by TELEPHONE. Government Proof of Claim Deadline Set for December 7, 2026; Chapter 11 Plan and Disclosure Statement Due October 6, 2026. About Circle D Truck Sales Inc. Circle D Truck Sales Inc. is a commercial truck dealership engaged in the sale, purchase, and distribution of new and used trucks and related transportation equipment. Circle D Truck Sales Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-10143) on June 8, 2026. In its petition, the Debtor reports estimated assets between $0 and $100,000 and estimated liabilities between $1 million and $10 million. The Debtor is represented by Weldon L. Moore III, Esq. CJC SHELL: Gets Extension to Access Cash Collateral --------------------------------------------------- The U.S. Bankruptcy Court for the Middle District of Florida, Fort Myers Division, issued a sixth interim order authorizing CJC Shell, LLC to use cash collateral. Under the sixth interim order, the Debtor is authorized to use cash collateral according to an approved budget, with flexibility to vary up to 10% per line item or in total. Funds can be used for ordinary operating expenses, court-approved payments, and trustee compensation. Any additional use requires either creditor consent or court approval, and unauthorized use may lead to remedies for the secured creditor. As adequate protection, each secured creditor will be granted a perfected post-petition lien against the pre-petition collateral to the same extent and with the same validity and priority as its pre-petition lien. The Debtor must also maintain insurance, comply with all bankruptcy obligations, and provide the secured creditors access to financial records and business premises upon notice. A continued hearing is scheduled for July 29. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/mycf2 from PacerMonitor.com. About CJC Shell LLC CJC Shell, LLC filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. M.D. Fla. Case No. 26-00049) on January 9, 2026, listing between $100,001 and $500,000 in assets and between $1 million and $10 million in liabilities. Michael Markham, Esq., serves as Subchapter V trustee. Judge Luis Ernesto Rivera II oversees the case. Michael R. Dal Lago, Esq., represents the Debtor as legal counsel. CLYDESDALE ACQUISITION: Fitch Affirms 'BB' IDR, Outlook Stable -------------------------------------------------------------- Fitch Ratings has affirmed Clydesdale Acquisition Holdings, Inc.'s (Clydesdale) Issuer Default Rating (IDR) at 'BB'. The Rating Outlook is Stable. Fitch has also affirmed the issue-level ratings of the existing revolver and senior secured debt at 'BB+' with a Recovery Rating of 'RR2' and its unsecured debt at 'BB'/'RR4'. The affirmation reflects Clydesdale's position as a market leader in foodservice packaging, its consistent cash flow visibility, and a credible path to approaching Fitch's leverage sensitivities by YE2027. While near-term demand softness has delayed deleveraging relative to initial expectations, synergy realization, cost savings, and gross debt reduction support the rating trajectory. Key Rating Drivers Segment Leader: The merger with Pactiv Evergreen (PTVE) positions Clydesdale as a market leader in foodservice packaging, with pro forma annual revenue of approximately $9 billion and $1.5 billion in EBITDA. This makes it several times larger than its nearest competitor, offering the broadest product range in a fragmented market. Clydesdale's regional distribution centers enhance efficient customer fulfillment, representing a highly defensible asset. The merger complements Clydesdale's strengths in carry-out and delivery packaging with PTVE's drinkware, containers, and grocer packaging. Fitch recognizes that Clydesdale's broadened geographic presence and strategically located manufacturing facilities near customers reduce shipping and transportation costs. This positions the company as a low-cost manufacturer with a sustainable competitive advantage. Solid Deleveraging Capacity: Fitch estimates Clydesdale's pro forma YE2025 EBITDA leverage at approximately 7.0x, with strong capacity to deleverage through the forecast period. While initial leverage is high, Fitch expects leverage to approach 5.5x by YE2027 through a combination of EBITDA growth from synergy realization and gross debt reduction. Fitch forecasts approximately $400 million in annual debt repayment in 2027 and 2028, supported by improving free cash flow generation. Near-term demand softness and raw material inflation have delayed the deleveraging timeline by approximately one year relative to Fitch's initial expectations. However, EBITDA margins are expected to expand into the upper-teen range through the forecast as these factors subside and the impact from synergies and cost savings are realized. Aligning leverage with its 5.5x threshold by the end of 2027 remains a key factor. Consistent Cash Flow: The combined company's consistent cash flow generation supports the rating. Both predecessor firms had strong operating cash flow generation at or above 5%, bolstering FCF and creating deleveraging capacity through the forecast period. In addition, the foodservice market has historically been defensive, with modest and temporary slowdowns during economic downcycles and a long-term positive growth trajectory. These factors lead to high cash flow visibility throughout the forecast period. Effective Cost Pass-Through: Customer contracts comprise over 80% to 85% of sales with the vast majority of contracts containing pass-through mechanisms, safeguarding margins against variable input costs such as resin and fiber. Recent resin price increases related to the Iran conflict are manageable given these mechanisms. Fitch expects EBITDA margins in 2026 to modestly decrease when excluding synergies and cost savings, but margins are likely to recover through the forecast period as resin prices abate and contractual price lags work in the company's favor. Managed Customer Concentration Risks: Clydesdale has customer concentration with high credit quality counterparties. Its top 10 customers account for 39% of pro forma fiscal 2025 revenues. This is mitigated by multi-year contracts with long-standing blue-chip customers such as McDonald's, Starbucks, and Walmart (AA/Stable). Exposure across the price and value spectrums somewhat mitigates the risk of customers trading down during recessions. A large number of products, over 38,000 unique SKUs, also mitigates single product exposure. Industry consolidation among customers may exert downward pricing pressure over the long term, likely beyond the forecast. Reliance on Synergies: Synergy realization is expected to facilitate significant debt reduction. Management increased projections to above $315 million from $250 million in annual EBITDA cost synergies by year three, driven by procurement, SG&A savings, and operational efficiencies that are typically achievable in the packaging industry. Fitch assumes the bulk of synergies will be realized by 2027. Separately, management's cost savings initiative targets $225 million to $350 million annually by YE2028. Fitch incorporates approximately $150 million of this range in its rating case. Peer Analysis Silgan Holdings Inc. (Silgan; BB+/Stable) and Clydesdale share similar EBITDA margins driven by effective cost pass-through and stable consumer end markets. Silgan's higher FCF margin and adherence to a longstanding conservative net leverage target of 2.5x to 3.5x support its one-notch higher rating. Clydesdale's leverage is expected to approach 5.5x through debt reduction and EBITDA expansion by 2027, well above Silgan's forecast leverage of approximately 3.7x. Amcor plc (BBB+/Stable) is one of the largest packaging companies in the world, with revenue more than twice that of Clydesdale. Amcor's clear commitment to an investment-grade credit profile and net leverage target of 2.5x to 3.5x, combined with superior geographic diversification and scale, support the multi-notch differential. Amcor's forecast leverage of approximately 2.6x to 3.2x is materially below Clydesdale's elevated profile. ProAmpac PG Intermediate LLC (B/Stable) shares similar food-focused end markets with Clydesdale. However, Clydesdale is nearly three times the size of ProAmpac, with superior EBITDA margins and approximately two turns less leverage by the end of the forecast period. Fitch also believes ProAmpac's capital allocation strategy is less conservative than Clydesdale's. Clydesdale's lower leverage and larger scale result in a rating three notches higher. Fitch’s Key Rating-Case Assumptions - Revenue assumptions are around Fitch's U.S. GDP forecast due to near-term demand headwinds, partially offset by cross-selling capabilities; - Fitch assumes a portion of FCF is used for annual debt repayments of between $300 million per year and $400 million per year; - Fitch assumes the bulk of identified cost synergies are realized by 2027, and a portion of cost savings are realized by 2028; - Secured Overnight Financing Rate assumptions are 3.95% in 2026, 3.91% in 2027, 3.85% in 2028, and 3.81% in 2029. Corporate Rating Tool Inputs and Scores Fitch scored the issuer as follows, using its Corporate Rating Tool (CRT) to produce the Standalone Credit Profile (SCP): - Business and financial profile factors (assessment, relative importance): management (bbb-, Lower), sector characteristics (bbb-, Moderate), market and competitive positioning (bbb-, Higher), diversification and asset quality (bb+, Moderate), company operational characteristics (bbb, Moderate), profitability (bbb-, Moderate), financial structure (b+, Higher), and financial flexibility (bbb-, Moderate). - The quantitative financial subfactors are based on custom CRT financial period parameters: 10% weight for the forecast year 2026, 20% for the forecast year 2027, 35% for the forecast year 2028 and 35% for the forecast year 2029. - Assessments of the quantitative financial subfactors also include bespoke calculations. - The Governance assessment of 'good' has no impact. - The Operating Environment assessment of 'aa-' has no impact. - The SCP is 'bb'. To derive the Long-Term IDR: - Fitch made no adjustments to the SCP, resulting in an IDR of 'BB'. RATING SENSITIVITIES Factors that Could, Individually or Collectively, Lead to Negative Rating Action/Downgrade - EBITDA leverage consistently above 5.5x; - Deviation from the existing deleveraging-focused capital allocation policy; - Weakened or inconsistent FCF generation. Factors that Could, Individually or Collectively, Lead to Positive Rating Action/Upgrade - Demonstrated commitment to maintaining EBITDA leverage consistently below 4.5x; - EBITDA margin expansion sustained in the upper-teen range, driven by a combination of higher-value mix and/or further cost reduction. Liquidity and Debt Structure Clydesdale has $395 million of cash on hand and $972 million available under its $1.03 billion revolver. Fitch believes that the large revolver availability and the company's strong cash flow generation ability provide robust liquidity to support the company in recessionary environments. Fitch sees the company's debt maturities as manageable because the next maturity is not until 2029. By that point, cost synergies and gross debt reduction should facilitate refinancing at better rates. Issuer Profile Clydesdale Acquisition Holdings, Inc. develops and manufactures diverse packaging products for multiple industries in the foodservice, delivery and carryout, food processor, and industrial markets that touch nearly every aspect of daily life. MACROECONOMIC ASSUMPTIONS AND SECTOR FORECASTS Fitch's latest quarterly Global Corporates Sector Forecasts Monitor data file which aggregates key data points used in its credit analysis. Fitch's macroeconomic forecasts, commodity price assumptions, default rate forecasts, sector key performance indicators and sector-level forecasts are among the data items included. Climate Vulnerability Signals The results of its Climate.VS screener did not indicate an elevated risk for Clydesdale Acquisition Holdings, Inc. ESG Considerations The highest level of ESG credit relevance is a score of '3', unless otherwise disclosed in this section. A score of '3' means ESG issues are credit-neutral or have only a minimal credit impact on the entity, either due to their nature or the way in which they are being managed by the entity. Fitch's ESG Relevance Scores are not inputs in the rating process; they are an observation on the relevance and materiality of ESG factors in the rating decision. Entity/Debt Rating Recovery Prior ----------- ------ -------- ----- Clydesdale Acquisition Holdings, Inc. LT IDR BB Affirmed BB senior unsecured LT BB Affirmed RR4 BB senior secured LT BB+ ffirmed RR2 BB+ COOL LIFE: Case Summary & 19 Unsecured Creditors ------------------------------------------------ Debtor: Cool Life CRM, Inc. 3096 S. Horner Blvd. Ste 280 Sanford, NC 27332 Business Description: Cool Life is a Sanford, North Carolina-based provider of CRM and virtual data room software. The company's platform supports relationship and transaction tracking, communication history management, document permission controls, workflow automation, reporting, billing, integrations, and API connectivity. Cool Life serves contexts including M&A, business brokerage, private equity, financial services, legal, audit, accounting, tax, pharma, research, association, and nonprofit workflows. Chapter 11 Petition Date: June 16, 2026 Court: United States Bankruptcy Court Middle District of North Carolina Case No.: 26-80195 Debtor's Counsel: Samantha K. Brumbaugh, Esq. IVEY, MCCLELLAN, SIEGMUND, BRUMBAUGH & MCDONOUGH, LLP 305 Blandwood Avenue Greensboro, NC 27401 Email: skb@iveymcclellan.com Total Assets: $141,356 Total Liabilities: $2,176,085 The petition was signed by David Cummings as president. A full-text copy of the petition, which includes a list of the Debtor's 19 unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/CCQ7ZVY/Cool_Life_CRM_Inc__ncmbke-26-80195__0001.0.pdf?mcid=tGE4TAMA CPG RESTAURANT: Unsecureds Will Get 10% of Claims over 5 Years -------------------------------------------------------------- CPG Restaurant Corp. filed with the U.S. Bankruptcy Court for the Eastern District of New York a Disclosure Statement describing Plan of Reorganization dated June 9, 2026. The Debtor operates a restaurant located at 5045 Nesconset Highway, Port Jefferson Station, New York under the name Seaport Diner. The restaurant serves a diverse American diner style menu with dine-in, outside dining, and delivery services. The insider of the Debtor is Constantinos Glykos who is the President and 100% owner. Mr. Glykos also works full time at the Debtor's restaurant. The bankruptcy filing was necessitated primarily by taxes owed to New York State and amounts owed to the Internal Revenue Service. The Debtor fell behind with tax payments during the pandemic and through this Plan the Debtor will become current and will be paying priority and secured tax creditors in full over 5 years. The Debtor also owes significant amounts to a secured creditor, Raymond Fernandez, who provided funding to the Debtor in connection with the build-out of the restaurant. The plan will be funded by a $50,000 new value contribution to be made by Constantinos Glykos. After payment of administrative, priority and secured claims, unsecured creditors will be paid a 10% distribution over a period of 5 years. The secured claim of the IRS will be paid in full over a period of 5 years. The secured claim of Raymond Fernandez will be paid $100,000 over 5 years, based on the Debtor's valuation of its assets, and the unsecured portion will receive a 10% distribution along with the other unsecured creditors. Class 3 consists of all general unsecured claims. These claims will be paid a distribution of 10% payable over a period of 5 years from the effective date. This Class is impaired. Creditors with general unsecured claims include Raymond Fernandez ($1,800,000.00); NY State Dept. of Tax. & Fin. ($20,688.10); PSEG Li ($67,613.31); and Internal Revenue Service ($2,520.00). The Debtor's equity is owned 100% by Constantinos Glykos who will retain his equity interests in exchange for a new value contribution in the total amount of $50,000.00. The new value contribution will be funded prior to the hearing on confirmation of the Plan. Under the absolute priority rule, equity interests cannot retain their interests unless all senior classes are either paid in full or vote to accept the plan. The "new value" doctrine is a common law exception to the absolute priority rule. The basic concept behind "new value" is that equity holders may retain their interest in a debtor when they provide contribution, often in the form of capital, to the reorganization. The Debtor believes that the contribution to the reorganization of capital in the amount of $50,000.00 satisfies the new value exception to the absolute priority rule. Payments and distributions under the Plan will be funded by a $50,000.00 contribution by the Debtor's principal Constantinos Glykos as well as operations of the Debtor over a period of 5 years. By signing this Disclosure Statement below, the Debtor's principal represents that he has the funds required and available to fund the plan contribution. A full-text copy of the Disclosure Statement dated June 9, 2026 is available at https://urlcurt.com/u?l=SaIagb from PacerMonitor.com at no charge. Counsel for the Debtor: Lawrence F. Morrison, Esq. Brian J. Hufnagel, Esq. MORRISON TENENBAUM PLLC 87 Walker Street, Floor 2 New York, NY 10013 Phone: (212) 620-0938 E-mail: lmorrison@m-t-law.com About CPG Restaurant Corp. CPG Restaurant Corp. operates multiple casual dining locations including Cheesie Pub & Grub, Whiskey Business, and Lost Reef Lounge and virtual concepts like Broke, High & Hungry, and Bob's Bomb Burgers, specializing in comfort food and beverages available for both in-house dining and delivery. CPG Restaurant Corp. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.Y. Case No. 25-44958) on Oct. 15, 2025. In its petition, the Debtor estimated assets up to $100,000 and liabilities. Bankruptcy Judge Jil Mazer-Marino handles the case. The Debtor is represented by Lawrence Morrison, Esq. CRAFT CONSTRUCTION: Final Cash Collateral Hearing Set for June 24 ----------------------------------------------------------------- U.S. Bankruptcy Court for the Southern District of Florida, Fort Lauderdale Division, is set to hold a final hearing on June 24 on Craft Construction Company, LLC's bid to use cash collateral. The Debtor is currently authorized to use cash collateral under the court's June 10 order, which remains effective until the final hearing. Under the interim order, secured lenders Truist Bank and Berkley Insurance Company were granted adequate protection through replacement liens and potential superpriority administrative claims. Truist, which holds a line of credit with an outstanding balance of approximately $50,000 and is considered oversecured, is not entitled to current adequate protection payments. Berkley, as surety on bonded construction projects, received protections relating to project proceeds and trust funds, although no cash adequate protection payments are required unless future circumstances change. About Craft Construction Company Craft Construction Company is a privately held construction company headquartered in Pompano Beach, Florida. The company provides construction management, design-build, general contracting, pre-construction consulting, new construction, and renovation services. It serves commercial, industrial, and institutional markets, including commercial office, clubhouse, multifamily, and hospitality projects. Craft Construction Company filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Fla. Case No. 26-15967) on May 7, 2026, listing $1 million to $10 million in both assets and liabilities. The petition was signed by Barry Craft as managing member. Judge Peter D Russin presides over the case. Zach B. Shelomith, Esq. at SHELOMITH LAW serves as the Debtor's counsel. CROZER HEALTH: Moves to Wind Down After Receivership Ends --------------------------------------------------------- Anthony SanFilippo of PhillyDaily reports that Prospect Medical Holdings has announced that Crozer Health will begin an orderly shutdown after the expiration of the healthcare system's receivership. The move follows the end of court-supervised oversight last week and marks the conclusion of attempts to keep the Delaware County hospital network operating. In a statement released Monday, June 22, 2026, FTI Consulting confirmed that its role as receiver ended on April 18, 2026 and said Prospect would proceed with filing closure notices and initiating the wind-down of all Crozer Health operations. The firm expressed regret that negotiations and efforts to secure a buyer or alternative restructuring plan did not succeed. Crozer Health has long served as a key provider of hospital and outpatient services in the region through facilities such as Crozer-Chester Medical Center and Taylor Hospital. The closure of those facilities is expected to create challenges for patients who rely on the system for emergency, inpatient, and specialty care, the report states. The decision comes after a temporary funding agreement reached in March allowed services to continue while stakeholders sought a permanent nonprofit owner. Despite those efforts and support from local organizations, officials were unable to identify a viable long-term solution for the health system, according to PhillyDaily. About Crozer Health Crozer Health was one of the largest healthcare providers in Delaware County, Pennsylvania, offering acute care, emergency medicine, surgical services, behavioral health treatment, and outpatient care through multiple hospitals and medical facilities. The system became part of Prospect Medical Holdings following its acquisition in 2016. Crozer Health entered court-supervised receivership in February 2025 after its parent company, Prospect Medical Holdings, faced mounting financial difficulties and bankruptcy proceedings. A federal bankruptcy judge approved the appointment of an independent receiver to oversee the Pennsylvania health system and prevent an immediate shutdown of its hospitals and medical services. FTI Consulting was selected as receiver and assumed operational control of Crozer Health, replacing Prospect's management team. CRUX SOLUTIONS: Unsecureds to Get Share of Income for 3 Years ------------------------------------------------------------- Crux Solutions LLC, filed with the U.S. Bankruptcy Court for the Southern District of Texas a Plan of Reorganization under Subchapter V dated June 9, 2026. The Debtor is a local funeral home that offers funeral and funeral-related services that was formed on October 26, 2015 by JoAnn Tutt Alexander, who is the owner and Manager of Crux under the company agreement. On March 11, 2023, JoAnn executed a power of attorney, granting her daughter, LaTonya Alexander, full power in fact to act as attorney-in-fact to act in JoAnn's name, as if they were JoAnn, with regard to any and all things related to the management, ownership, and operation of Crux, including acting as Manager for the Company. Ownership of the Debtor, JoAnn Alexander, will sell her 100% equity interest in the Debtor to Marcus Jammer and LaTonya Alexander. Upon the sale, Marcus Jammer and LaTonya Alexander shall each own 50% of the equity of the company. The Debtor shall receive $480,000 in funds from this sale and $20,000 will be paid to JoAnn Alexander in consideration of her sale of equity. The total purchase funds of $500,000 are being financed by Marcus Jammer, individually, who has been preapproved for this amount. The $480,000 going to the Debtor are referred to as the "Equity Proceeds". The Equity Proceeds will be used to pay any delinquent property taxes in full and pay the administrative expenses of the estate in full, including the fees and expenses of estate professionals and the Subchapter V Trustee. These claims are being treated as a Class 1 Claim under the Plan. The Debtor shall set aside a reserve of $50,000 from the remaining Equity Proceeds that the Debtor will use to keep current on its property tax obligations and shall pay the applicable taxing authorities in the ordinary course. The Debtor shall make initial lump payments to its secured lenders using the $342,038.37 in remaining Equity Proceeds on a pro rata basis, based on their proportional share of the allowed secured claims pools. The secured lenders are being treated as a Class 2 Claim with respect to the portion of their claims that are secured. The Debtor shall make payments to its secured lenders, as set forth in the Projections at Exhibit 1 and as set forth in more detail herein during the Plan Period. The Debtor shall provide and grant replacement liens to the secured lenders for the allowed amount of their secured claims and secured lenders are being paid the value of their interest in the collateral during the Plan Period satisfying Section 1129(b)(2)(A)(i) of the Bankruptcy Code. Any unsecured portion of the claim of a secured lender shall treated as a general unsecured claim under Class 3 of this Plan and shall be paid their pro rata share of the projected disposal income of the Debtor under the Plan. The Plan provides that all the projected disposable income of the Debtor shall be paid to the holders of an allowed general unsecured claim on a pro rata basis. The Debtor is applying all of its projected disposal income to the payment of its the allowed general unsecured claims under the Plan. Holders of an allowed general unsecured claim shall receive their pro rata share of the projected disposable income over the Plan Period, which is an expected dividend of 4.84%, instead of 0% in a liquidation. Class 3 consists of General Unsecured Claims. The allowed unsecured claims total $1,195,596.93. A holder of an allowed Class 3 Claim shall be paid their pro rata share of the Debtor's Projected Disposal Income for the 3 Year Plan Period. The payment of the Projected Disposal Income shall occur on a yearly basis. The Disbursing Agent shall issue these payments to the Class 3 claimants by December 20 of each year of the Plan Period. A full-text copy of the Plan of Reorganization dated June 9, 2026 is available at https://urlcurt.com/u?l=OJjSqn from PacerMonitor.com at no charge. Counsel for the Debtor: Elias M. Yazbeck, Esq. Jacqueline Q. Chiba, Esq. THE LAW OFFICE OF ELIAS M. YAZBECK, PLLC 4119 Montrose Blvd., Suite 470 Houston, TX 77006 Phone: (281) 755-7320 E-mail: elias@yazbecklaw.com About Crux Solutions LLC Crux Solutions, LLC, doing business as Waddell's Riverside Funeral Directors, is a locally owned funeral home based in Houston, Texas, providing funeral, memorial, and celebration of life services, as well as cremation and pre planning options. The company offers professional support to families throughout the planning process and maintains online obituaries to serve the community. Crux Solutions sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Texas Case No. 26-31623) on March 11, 2026, with $804,432 in assets and $1,650,303 in liabilities. Latonya Alexander, manager, signed the petition. Judge Jeffrey P. Norman presides over the case. Elias Yazbeck, Esq., at The Law Office of Elias M. Yazbeck, PLLC, is the Debtor's legal counsel. CTN HOLDINGS: Ex-CEO Seeks Insurance to Cover Legal Defense Costs ----------------------------------------------------------------- Angelica Serrano-Roman of Bloomberg Law reports that the former Aspiration Partners Inc. CEO Andrei Cherny has petitioned a Delaware bankruptcy judge to permit the use of insurance proceeds to fund his legal defense in connection with regulatory inquiries. The request was submitted in the U.S. Bankruptcy Court for the District of Delaware on Wednesday. Court documents indicate Cherny has already incurred substantial defense costs, some of which remain outstanding or have been paid directly by him. He said those expenses will continue to rise absent access to insurance coverage. The case arises amid ongoing scrutiny of Aspiration following its collapse. Co-founder Joseph Sanberg was recently sentenced to 14 years in prison after being convicted of defrauding investors and lenders of more than $248 million, the report cites. Cherny has since exited the company and is now seeking protection for defense costs as part of the bankruptcy-related proceedings, according to Bloomberg. About CTN Holdings CTN Holdings Inc., formerly known as Aspiration Partners Inc., is a climate finance company specializing in providing high-quality carbon solutions to businesses worldwide. They connect companies with effective decarbonization strategies and a wide range of carbon removal projects, selling carbon credits sourced from a diverse network of project developers. The company is famous for providing carbon creditors of Microsoft Corp., Meta Platforms Inc., and other big companies. CTN Holdings Inc. and six of its affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 25-10613) on March 30, 2025. In the petition, the Debtors reported estimated assets of $50 million to $100 million and up to $50,000 and estimated liabilities of $100 million to $500 million. The petitions were signed by Miles Staglik as chief restructuring officer. The Debtors tapped Whiteford, Taylor & Preston LLC as counsel and BDO USA PC as tax consultants. Kurtzman Carson Consultants, LLC dba Verita Global, is the Debtors' claims and noticing agent. CYCURION INC: Says Stock Attack Damages May Top $30 Million ----------------------------------------------------------- Cycurion Inc. said damages from a coordinated campaign against its stock could exceed $30.00 million, according to a press release furnished with a Securities and Exchange Commission filing. The company said an unauthorized and fabricated March 16 press release falsely announced a major fictitious acquisition by Cycurion, followed by alleged coordinated manipulation of the company's stock price. Cycurion said its lawsuit names ACCESS Newswire as a defendant and will eventually include market manipulators. The company said it obtained trading records through subpoenas from multiple registered market makers covering trading activity in CYCU. The company said its stock had fallen more than 10% from the prior close at 9:30:01 a.m. on March 16, immediately triggering the Short Sale Circuit Breaker. It also said short selling rose from 33 times to more than 180 times above pre-event daily averages. Cycurion said records from one market maker showed a third party placed hundreds of orders with a 100% cancellation rate at nanosecond speeds, a pattern the company described as spoofing. The company said it issued litigation hold letters and compiled trading evidence. The company also said it reduced net debt by more than 70%, maintained solid cash reserves and implemented cost controls focused on profitable revenue. It said acquisitions of Secuvant and Digital Ally's Video Solutions segment are integrating and expanding its AI-powered ARx platform. About Cycurion, Inc. Cycurion, Inc. is a publicly traded cybersecurity and artificial intelligence-powered IT solutions provider headquartered in McLean, Virginia. The company operates through subsidiaries including Cycurion Sub, Cycurion Crypto, Axxum Technologies, Cloudburst Security and Cycurion Innovation. Cycurion provides cybersecurity, network communications and information technology services to federal civilian, defense and judicial agencies and commercial clients, and offers consulting, managed IT and managed security services. In an audit report dated March 31, 2026, WWC, P.C. included a going concern qualification, stating that Cycurion suffered recurring losses from operations and had a working capital deficit. The conditions raised substantial doubt about the company's ability to continue as a going concern. As of March 31, 2026, Cycurion reported total assets of $31.45 million, total liabilities of $17.76 million and stockholders' equity of $13.68 million. D & D VENTURE: Court Extends Cash Collateral Access to July 24 -------------------------------------------------------------- D & D Venture Group, Inc. received another extension from the U.S. Bankruptcy Court for the Northern District of California, San Francisco Division, to use cash collateral. At the recently held hearing, the court approved the Debtor's interim use of cash collateral through July 24 and scheduled a final hearing for that date. The Debtor was initially allowed to access cash collateral under the court's June 10 interim order. The initial order granted secured creditors adequate protection through replacement liens on the Debtor's post-petition property excluding Chapter 5 avoidance actions, with the same priority and extent as their pre-petition liens. It also approved the monthly payments of $5,000 to Summit State Bank, starting Aug. 1, increasing to $10,000 per month beginning Oct. 1. The creditors that may claim interests in the cash collateral include Summit State Bank, Fremont Bank, Bankers Healthcare Group, LLC, and the California Department of Tax and Fee Administration. Collectively, these creditors assert approximately $2.17 million in secured or potentially secured claims. Summit State Bank holds a first-priority claim of approximately $570,000, while Fremont Bank asserts a contingent and disputed claim exceeding $1 million related to inventory allegedly transferred from a non-debtor affiliate. Bankers Healthcare Group claims approximately $337,945, and the California tax authority asserts a secured tax claim of approximately $206,442. D & D Venture Group reported substantial business assets, including approximately $58,520 in bank accounts, $136,507 in fixed assets, inventory valued at more than $2.3 million, and deposits totaling approximately $16,746. Prior to filing bankruptcy, the Debtor relied on revenues generated from ongoing operations as its primary source of working capital. About D & D Venture Group Inc. D & D Venture Group, Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Cal. Case No. 26-30496) on June 4, 2026. In the petition signed by Damon Pham, secretary and chief financial officer, the Debtor disclosed up to $10 million in both assets and liabilities. Judge William J. Lafferty oversees the case. Edward J. Tredinnick, Esq., at Fox Rothschild LLP, represents the Debtor as legal counsel. DALTONBRIELLA LLC: Andrew Layden Named Subchapter V Trustee ----------------------------------------------------------- The Acting U.S. Trustee for Region 21 appointed Andrew Layden as Subchapter V trustee for DaltonBriella LLC. Mr. Layden will be paid an hourly fee of $400 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Layden declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Andrew Layden 200 S. Orange Avenue, Suite 2300 Orlando, FL 32801 Telephone: 407-649-4000 Email: alayden@bakerlaw.com About DaltonBriella LLC DaltonBriella, LLC owns residential condominium properties in coastal South Carolina, including units in Murrells Inlet and Myrtle Beach. Its real estate holdings include properties on North Waccamaw Drive, South Kings Highway, 69th Avenue North and Shore Drive. The Debtor filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. M.D. Fla. Case No. 26-02564) on June 5, 2026, with $1,299,731 in assets and $984,800 in liabilities. Kiley A. Webber, authorized managing member, signed the petition. Judge Jason A. Burgess presides over the case. Bryan K. Mickler, Esq., at the Law Offices of Mickler & Mickler, LLP represents the Debtor as legal counsel. DARE BIOSCIENCE: All Eight Key Proposals Passed at Annual Meeting ----------------------------------------------------------------- Dare Bioscience, Inc. announced the results of its 2026 Annual Meeting of Stockholders at which stockholders voted on the proposals described in detail in the Proxy Statement. Below is a brief description of each proposal and the final voting results. Proposal 1: Each of the director nominees identified in the table below was elected as a Class III director to hold office until the 2029 annual meeting of stockholders, and until their respective successor is duly elected and qualified, by the votes set forth below. 1. Gregory W. Matz, CPA * Votes For: 3,752,211 * Votes Withheld: 403,510 * Broker Non-Votes: 3,822,158 2. Sabrina Martucci Johnson * Votes For: 3,848,085 * Votes Withheld: 307,636 * Broker Non-Votes: 3,822,158 Proposal 2: Stockholders ratified the appointment of Haskell & White LLP as independent registered public accounting firm for the fiscal year ending December 31, 2026 by the votes set forth below. * Votes For: 7,754,883 * Votes Against: 131,829 * Abstentions: 91,167 * Broker Non-Votes: -- Proposal 3: Stockholders approved, on an advisory basis, the compensation of the named executive officers as disclosed in the Proxy Statement by the votes set forth below. * Votes For: 3,625,596 * Votes Against: 458,662 * Abstentions: 71,463 * Broker Non-Votes: 3,822,158 Proposal 4: Stockholders voted as follows with respect to the preferred frequency of holding an advisory vote on the compensation of the named executive officers. * Every year: 3,684,058 * Every two years: 64,201 * Every three years: 224,385 * Abstentions: 183,077 * Broker Non-Votes: 3,822,158 In light of the voting results, the board of directors has determined to hold an advisory vote on executive compensation every year until the next required say-on-frequency vote. Proposal 5: Stockholders approved, in accordance with Nasdaq rules, the potential future issuance of shares of common stock under the existing equity line with Lincoln Park Capital Fund, LLC by the votes set forth below. * Votes For: 3,771,709 * Votes Against: 325,568 * Abstentions: 58,444 * Broker Non-Votes: 3,822,158 Proposal 6: Stockholders approved an amendment to the Dare Bioscience, Inc. 2022 Stock Incentive Plan to increase the number of shares available for issuance thereunder by 1,500,000. The Board previously approved the 2022 Plan Amendment, subject to and effective upon approval of the 2022 Plan Amendment by the stockholders. * Votes For: 3,497,228 * Votes Against: 609,746 * Abstentions: 48,747 * Broker Non-Votes: 3,822,158 A copy of the 2022 Plan Amendment is https://tinyurl.com/yc54d564 Proposal 7: Stockholders approved the adjournment of the Meeting, if necessary or advisable, to solicit additional proxies in favor of Proposal 5 if there were not sufficient votes to approve Proposal 5 by the votes set forth below. Because Proposal 5 was approved, the adjournment authorized by Proposal 7 was not necessary. * Votes For: 3,650,815 * Votes Against: 448,085 * Abstentions: 56,821 * Broker Non-Votes: 3,822,158 Proposal 8: Stockholders approved the adjournment of the Meeting, if necessary or advisable, to solicit additional proxies in favor of Proposal 6 if there were not sufficient votes to approve Proposal 6 by the votes set forth below. Because Proposal 6 was approved, the adjournment authorized by Proposal 8 was not necessary. * Votes For: 3,531,653 * Votes Against: 570,999 * Abstentions: 53,069 * Broker Non-Votes: 3,822,158 About Dare Bioscience Dare Bioscience, Inc. is a biopharmaceutical company committed to advancing innovative products for women's health. The Company's mission is to identify, develop, and bring to market a diverse portfolio of differentiated therapies that prioritize women's health and well-being, expand treatment options, and improve outcomes, primarily in the areas of contraception, vaginal health, reproductive health, menopause, sexual health, and fertility. Irvine, California-based Haskell & White LLP, the Company's auditor since 2023, issued a "going concern" qualification in its report dated March 26, 2026, citing that the Company's recurring losses from operations and its dependency on additional financing to fund operations, raise substantial doubt about the Company's ability to continue as a going concern. As of March 31, 2026, the Company had $27.8 million in total assets, $27.1 million in total liabilities, and $734,451 in total stockholders' equity. DAVID JAMES: Gets OK to Retain Reliable Tax as Accountant --------------------------------------------------------- Judge Tyson Crist of the U.S. Bankruptcy Court for the Southern District of Ohio granted David James Truscott's application to retain Reliable Tax & Bookkeeping as accountant effective as of the date it was filed, April 20, 2026, and not retroactive to the petition date of March 7, 2025, over a year earlier. The Court has determined that it is appropriate to grant the application as the Debtor has the need for an accountant in order to prepare his taxes and to comply with his duties as a debtor-in-possession under 11 U.S.C. Sec. 1107; it makes sense for Debtor to hire an accountant familiar with his finances and Reliable Tax's employment is not prohibited because they worked for the Debtor prepetition; Reliable Tax's rates are reasonable; Steven Barth, a principal of Reliable Tax, appears to be qualified; and with the waiver of Reliable Tax's prepetition claim for $200, Reliable Tax is "disinterested" such that their employment is not prohibited. Creditor Jonathan D. Krachenfels objected to the application. The two issues that Mr. Krachenfels raised in his Objection that had merit, were that: (1) Reliable Tax was a prepetition creditor and therefore not disinterested under Sec. 101(14), based on Debtor owing Reliable Tax $200 for services as of the petition date; and that (2) the Application improperly seeks retroactive employment ("effective as of the Petition Date") without meeting the Sixth Circuit's strict standards for nunc pro tunc relief." The first issue has since been remedied through the Supplemental Affidavit, in which Mr. Barth confirms that he waives the $200 prepetition claim. The second issue, however, has not been fully addressed by the Debtor. There is no mention in the Affidavit or Supplemental Affidavit of whether Mr. Barth has performed services for the Debtor since the petition date. A copy of the Court's Order is available at https://urlcurt.com/u?l=qWUcQV from PacerMonitor.com. About David James Truscott David James Truscott filed for Chapter 11 bankruptcy protection (Bankr. S.D. Ohio Case No. 25-30378) on March 7, 2025, listing under $1 million in both assets and liabilities. The Debtor is represented by Denis Blasius, Esq. DEQSER LLC: Plan Contemplates Two Scenarios ------------------------------------------- Deqser LLC and KNY 26671 LLC filed with the U.S. Bankruptcy Court for the District of Delaware an Amended Disclosure Statement for the Amended Joint Plan of Reorganization dated June 9, 2026. KNY is a state of the art commercial laundry located in Kearny, New Jersey which was envisioned as being the most technologically forward laundry in North America. KNY services the hotel and restaurant industry located primarily in New York City. Deqser (LLC) was incorporated as a Delaware limited liability company. It serves solely as a holding company. It was originally envisioned that there would be a roll up of multiple commercial laundries into Deqser, but that has not occurred. The Debtors commenced their Chapter 11 Cases to obtain a breathing spell and facilitate financing. Through the breathing spell afforded by the chapter 11 filing, and the opportunity chapter 11 provided to facilitate additional financing, KNY was able to perform required repairs and maintenance of their facility to optimize their laundry facility to increase its capacity and efficiency. The breathing spell afforded by chapter 11 also allowed KNY to increase its customer base. KNY increased the amount of laundry its processing from a low of 8,000 rooms after filing these Chapter 11 Cases to a projection of 12,750 rooms on or around the effective date of the Confirmation. The increased volume is projected to result in increased revenue. This increased revenue coupled with the increase efficiency, lowering operating expense, is the key to the revitalization of KNY's business and their return to profitability. In short, the Debtors were able to accomplish the goals for which it filed their Chapter 11 Cases. Deqser LLC and KNY 26671 are proposing this reorganization plan, together with the DIP Lender, for the resolution of the outstanding Claims and Interests of the Debtors, which, if Confirmed will allow KNY to continue as the sole entity. This Plan is a "toggle plan", meaning that it presents two different alternatives for reorganization, and if one alternative is not successful, the plan automatically "toggles" to the second alternative. In this case, the Plan Proponents are seeking to reorganize pursuant to the reorganization transaction set forth herein, but if the Bankruptcy Court has not ruled that the Reorganization Transaction is feasible by August 12, 2026, the Debtors will automatically toggle to a Sale Transaction. If the Plan is Confirmed, and the court has determined that the Reorganization Transaction is Feasible prior to August 12, 2026, the Debtors will implement the Reorganization Transaction which will allow KNY to continue in the commercial laundry business operating under the name: Cooperative Laundry Tri-State. If not, the Debtors will immediately commence offering all of the assets of the Debtors for sale pursuant to the Sale Transaction. In order to effectuate the Plan, the Debtors are proposing that all of the assets and all of the liabilities of both companies will be combined through a process known as substantive consolidation, with KNY as the surviving entity emerging from Chapter 11 if the Reorganization Transaction is implemented. Substantive consolidation will eliminate all intercompany debt between KNY and Deqser, which could otherwise be substantial. The Debtors will issue New Equity Units in exchange for certain debt. Other claimants will receive cash Distributions. The existing Equity will be cancelled by the Plan and will be eliminated. The Plan will be funded by a loan from CSV or Merchant Financial Corporation of an amount up to $1,800,000. Such amount will be used to fund the Plan Distributions on the Initial Distribution Date in accordance with the classification and treatment of the Claims contained in the Plan, as well as to provide working capital. Class 7 consists of Allowed Noninsider General Unsecured Claims against both Debtors. This Class is impaired. * Proposed Recovery in Reorganization Transaction: Pro Rata share of: (a)$300,000, paid over five years in nine equal semi-annual installments, with the first installment due on the date which is twelve months after the Effective Date; (b) 40% of the proceeds from  avoidance actions and prepetition tort claims, which will increase to 65% if the settlement with CSV contained in the Plan is approved; (c) 5% of all Cash Sweeps once Eastern has received $250,000; (d)if all or a substantial portion of the Reorganized Debtor's assets are sold within five years of the Effective Date of the Reorganization Transaction, 5% of the net proceeds from such sale after all sale expenses and payments under the Plan have been made, including payments on the New Preferred Equity Units; and (e ) a percentage of the insurance proceeds paid to CVS on behalf of Irazuk on the business interruption insurance claim as set forth herein with respect to the CSV settlement if such settlement is approved. In addition, the Committee expects to reach an agreement with Eastern, pursuant to which Eastern will subordinate all or a portion of its unsecured claims against Deqser until other General Unsecured Creditors receive a certain aggregate payout. * Proposed Recovery in Sale Transaction: Forty percent of the sale proceeds from the sale of Avoidance Actions and tort claims as determined by either allocation by the Successful Bidder(s); the sale price of relevant lots; agreement between the Reorganized Debtor and the Committee; or a Bankruptcy Court determination of value. In addition, Class 7 will receive the Net Sale Proceeds remaining after all of the Allowed Administrative, Priority, and Secured Claims have been paid in full, up to the Face Amount of the Allowed Non-insider General Unsecured Claims. The goal of the Plan Proponents is to proceed with the Reorganization Transaction. They will only change course and do the Sale Transaction instead if the Bankruptcy Court does not find that the Reorganization Transaction is Feasible by August 12, 2026, or such earlier date as the Bankruptcy Court finds that the Reorganization Transaction is not Feasible, and the Plan Proponents decide not to amend the Plan to try to make the Reorganization Transaction Feasible. A full-text copy of the Amended Disclosure Statement dated June 9, 2026 is available at https://urlcurt.com/u?l=VYEGSP from PacerMonitor.com at no charge. Counsel for the Debtors: GELLERT SEITZ BUSENKELL & BROWN LLC Ronald S. Gellert, Esq. 1201 North Orange Street, Suite 300 Wilmington, DE 19801 Tel:(302) 425-5806 E-mail: rgellert@gsbblaw.com - and - MAYERSON & HARTHEIMER, PLLC Sandra E. Mayerson, Esq. David H. Hartheimer, Esq. Mayerson & Hartheimer, PLLC 845 Third Avenue, 11th Floor New York, NY 10022 Tel: (646) 778-4381 Fax: (646) 778-4384 E-mail: sandy@mhlaw-ny.com david@mhlaw-ny.com About Deqser LLC Deqser LLC is a business entity associated with Cooperative Laundry, a commercial laundry service based in Kearny, New Jersey. Operating from a state-of-the-art facility, the company supports the hospitality industry with advanced, eco-efficient laundry solutions. Deqser sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Del. Case No. 25-10687) on April 10, 2025. The Debtor estimated assets and liabilities of $1 million to $10 million. The Hon. Craig T. Goldblatt presides over the case. The Debtor's general bankruptcy counsel is Mayerson & Hartheimer, PLLC and its local bankruptcy counsel is Gellert Seitz Busenkell & Brown, LLC. DYNABODY LLC: Gets Interim OK to Use Cash Collateral Until July 18 ------------------------------------------------------------------ DynaBody, LLC received interim approval from the U.S. Bankruptcy Court for the Western District of North Carolina to use cash collateral. The court granted the motion on an interim basis, allowing the Debtor to use cash collateral through July 18 to pay expenses in accordance with its budget. The Debtor will remain compliant so long as expenditures do not exceed budgeted line items by more than 10%. The Debtor held cash in its bank accounts and had accounts receivable outstanding on the petition date. These assets may constitute cash collateral subject to the security interests of creditors. Based on the Debtor's preliminary investigation, United Community Bank appears to be the only creditor with a potential perfected security interest in the Debtor's assets, as evidenced by a current UCC financing statement filed with the Tennessee Secretary of State. However, because of the emergency nature of the bankruptcy filing, the Debtor had not yet completed a full review of the underlying loan documents, security agreements, and financing statements. As adequate protection, United Community Bank and any other lienholders holding interests in pre-petition cash collateral will be granted replacement liens on post-petition cash collateral, with the same extent and priority as their pre-petition interests. The Debtor is also required to make payments to United Community Bank as provided in the approved budget. The order preserves all parties' rights regarding the validity, priority, and extent of liens asserted against the debtor or its cash collateral. A further hearing is scheduled for July 14. The order is available at https://is.gd/Mstx23 from PacerMonitor.com. About DynaBody LLC DynaBody, LLC is a Tennessee-based company specializing in the design, manufacture, and resale of custom fitness equipment. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. N.C. Case No. 26-30771) on June 7, 2026. In the petition signed by John David Preble, sole member, the Debtor disclosed up to $1 million in assets and up to $10 million in liabilities. Judge Laura T. Beyer oversees the case. Michael L. Martinez, Esq., at Grier Wright Martinez, PA, represents the Debtor as legal counsel. ELCORP LLC: Commences Chapter 11 Bankruptcy in Maine ---------------------------------------------------- On June 17, 2026, Elcorp, LLC filed for Chapter 11 protection in the U.S. Bankruptcy Court for the District of Maine. According to court filings, the Debtor reports between $10 million and $50 million in debt owed to approximately 1–49 creditors. The deadline to submit the Statement of Financial Affairs is July 1, 2026. About Elcorp, LLC Elcorp, LLC is a holding and investment company engaged in managing business interests, real estate assets, and related commercial ventures. Elcorp, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-20172) on June 17, 2026. In its petition, the Debtor reported estimated assets of $1 million–$10 million and estimated liabilities of $10 million–$50 million. Honorable Bankruptcy Judge Peter G. Cary handles the case. The Debtor is represented by D. Sam Anderson, Esq. of Bernstein Shur Sawyer & Nelson. ELK GROVE: Fitch Assigns 'BB-' LongTerm IDR, Outlook Positive ------------------------------------------------------------- Fitch Ratings has assigned Elk Grove Village Property LLC a 'BB-' Long-Term Issuer Default Rating (IDR) and $900 million senior secured notes a 'BB-' rating. The Rating Outlook is Positive. The 'BB-' rating reflects the project's contracted revenue profile, anchored by a 15-year triple-net lease with CoreWeave, Inc. (BB-/Positive). Completion risk is mitigated by a guaranteed maximum price (GMP) contract with an experienced contractor and the advanced stage of construction. However, the project faces power supply risk. Cash flows during the initial lease term are sufficient to fully amortize the debt under Fitch's rating case assumptions, eliminating lease renewal risk. Debt provisions are weaker than typical project finance protections. Although the Project Life Coverage Ratio (PLCR) at debt maturity is consistent with a higher rating, the rating remains constrained by CoreWeave's credit profile. The IDR is equalized with the debt rating, given their senior position and lack of subordinated liabilities. KEY RATING DRIVERS Completion Risk - Stronger Advanced Stage of Construction; GMP Finalized and No Termination for Delays The project's completion risk profile benefits from the straightforward nature of data center construction, the use of an experienced contractor and the advanced stage of completion. Cost escalation risk is mitigated by the finalized GMP contract, secured owner-furnished contractor-installed equipment and reasonable project-level contingencies. The LTA says delays have occurred at certain data halls due to landlord- and tenant-related matters. The parties are addressing these issues in discussions on a lease amendment. No rent credits have been applied. Data Halls 1-3 are operational. Data Hall 4 could be delayed because of chiller delays. Management expects no rent credits as the delays are tenant-led. The LTA says Data Halls 5 and 6 remain ahead of schedule, but commencement depends on energization of the new substation, which is not expected until 2Q27. Risk is partly mitigated because the tenant's termination right was tied to completion of Data Hall 1, now operational. Substation delays qualify as force majeure, limiting rent-credit exposure for several months beyond the outside date. A fully funded six-month DSRA and phased completion can absorb delay-related costs for up to 14 months. Supply Risk - Midrange Substation Under Construction; Bridging Power Available for Partial Capacity The project is exposed to power supply risk because permanent service depends on Commonwealth Edison (ComEd) completing a new substation and related transmission works. Energization is expected in 2Q27, per management and the LTA. This risk is partly mitigated by 69 MW of active bridging power, which is sufficient to support commissioning through Data Hall 4. However, Data Halls 5 and 6 cannot become operational until the substation is energized if no additional bridging power is secured. The substation was delayed due to easement conflicts, permitting and broader transmission system constraints, which have since been resolved. The LTA says ComEd mobilized on site in March 2026 and has all long-lead equipment in stock. The LTA is tracking progress through biweekly meetings. Substation delays qualify as force majeure, shielding the project from rent credits for several months beyond the outside date. Liquidity support, including a six-month DSRA helps absorb extended delays for up to 14 months. Revenue Risk - Stronger No Lease Renewal Risk The project benefits from contracted revenue for the initial 180-month lease with CoreWeave. Cash flows from the lease are sufficient to fully amortize the debt in the initial lease term under the Fitch rating case assumptions, eliminating lease renewal risk. The project also benefits from the facility's prime location, strong fiber connectivity, low power prices, robust hyperscale demand in Chicago, and rising barriers to entry. Operation Risk - Stronger Triple Net Lease; SLAs with Termination Rights This assessment reflects a triple-net lease under which major costs including electricity, operations, and maintenance are fully passed through to the tenant. The lease includes service level agreements and provides outage credits for certain service interruptions, with tenant termination rights upon qualifying critical interruptions. These operational risks are partially mitigated by electrical, mechanical, and cooling redundancies, as well as Prime Data Centers' experience managing six operational data center sites. Infrastructure Development & Obsolescence Risk - Neutral Newly Built Data Center, Low Maintenance Exposure to technological obsolescence is limited, as debt can fully amortize within the lease term under Fitch's rating case. The core mechanical and electrical systems are expected to have useful lives extending beyond the initial lease term, reducing the likelihood of material capital requirements. Further, any capex is fully reimbursed by the tenant within the lease term. Debt Structure - 1 - Midrange Refinance Risk, Additional Debt Allowance The fixed-rate senior secured notes mature in 2031, creating refinancing risk, particularly given the sponsors' limited refinancing track record. This risk is partly mitigated by no reliance on lease renewals for debt repayment and by liquidity support, including an upfront fully funded six-month DSRA. Debt provisions are weaker than those in typical project finance structures. While issuer complies with SPE restrictions, a HoldCo default could trigger cross-default. This risk is limited because HoldCo cannot incur debt or engage in business other than holding the issuer's equity. Before completion, the issuer may raise up to $50 million under a letter of credit basket. After final commencement, it may incur additional first- or junior-lien debt of up to 50% of the last-12-months' NOI, in each case without a rating affirmation. No provisions directly ties incremental debt to a loan-to-cost (LTC) ratio. These provisions could push leverage to 99% pre-completion from the current level of 94%. High LTC during construction is partly offset by the project's advanced construction stage. Three data halls are already operational, and only about 20% of the budget remains. This supports sponsor alignment and completion incentives. Peer Analysis The closest peers are WULF Compute, LLC (BB/Stable) and Cipher Compute LLC (BB-/Stable). While WULF and Cipher face higher construction risk, both benefit from a lease supported by a Google guarantee. Their ratings are constrained by completion risk and a limited operating track record, with additional pressure from the absence of a fixed-price construction contract and an aggressive construction schedule. In comparison, Elk Grove faces lower completion risk, mitigated by a GMP contract with an experienced contractor, but is exposed to the tenant's weaker credit profile. RATING SENSITIVITIESFactors that Could, Individually or Collectively, Lead to Negative Rating Action/Downgrade - A downgrade of CoreWeave's rating or a revision of its Outlook could lead to a similar action on issuer's senior notes; - Significant construction delays or delays in substation resulting in degradation in the financial profile of the project with decline in the minimum PLCR below 1.0x. Factors that Could, Individually or Collectively, Lead to Positive Rating Action/Upgrade - An upgrade of CoreWeave's rating could lead to a similar action on issuer's senior notes, provided that the PLCR remains above1.05x; - Timely completion of the power utility infrastructure by ComEd and satisfactory commissioning of Data Halls 4-6. Financial Profile Fitch's rating case assesses project cash flows over the initial 15-year lease term, assuming annual lease escalations and the maximum additional debt allowance of $119 million (including the $50 million letters of credit basket and 50% NOI basket). Although opex and major maintenance costs are passed through to the tenant under the NNN lease structure, Fitch applies a capex stress to assess the effect on cash liquidity before reimbursement begins. The rating case applies a 150 bps stress to the refinancing interest rate, resulting in a 9% refinancing rate in year five. Under these assumptions, the PLCR at refinancing in year five (2031) is 1.27x with five-year DSCR average at 1.08x. The issued debt amount increased to $900 million from the previously communicated $850 million, with updated financial ratios remaining in line with the rating. Although this PLCR is commensurate with a higher rating level, the rating is constrained by the counterparty's credit profile. TRANSACTION SUMMARY Prime Data Centers, through its subsidiary Elk Grove Village Property, LLC, issued $900 million of senior secured notes to fund a 72 MW IT-capacity hyperscale data center in Elk Grove Village (Chicago), Illinois. The data center comprises six data halls of 12 MW each, constructed by Clune Construction Company under a GMP contract with completion of the last data hall in December 2026. The campus is 100% pre-leased to CoreWeave (BB-/Positive) under a 15-year lease with two seven-year extension options. As of June 2026, Data Halls 1, 2, and 3 are complete. The assets, rights, responsibilities, and cash flows of the project are ring-fenced within a bankruptcy-remote special purpose entity. While Fitch has received the executed financing and security documents, the mortgage has not yet been delivered. The indenture permits the issuer up to 180 days following closing to deliver the mortgage and related real estate deliverables. SECURITY The notes carry a first lien on all Elk Grove Village Property's assets, contracts, and cash flows during construction and post-commercial operation date, as well as a pledge of equity of the issuer by its direct parent. Date of Relevant Committee 26 May 2026 Climate Vulnerability Signals The results of its Climate.VS screener did not indicate an elevated risk for Elk Grove Village Property, LLC. ESG Considerations The highest level of ESG credit relevance is a score of '3', unless otherwise disclosed in this section. A score of '3' means ESG issues are credit-neutral or have only a minimal credit impact on the entity, either due to their nature or the way in which they are being managed by the entity. Fitch's ESG Relevance Scores are not inputs in the rating process; they are an observation on the relevance and materiality of ESG factors in the rating decision. Entity/Debt Rating Prior ----------- ------ ----- Elk Grove Village Property LLC LT IDR BB- New Rating BB-(EXP) Elk Grove Village Property LLC/Senior Secured Notes/1 LT LT USD 900 mln bond/note LT BB- New Rating BB-(EXP) ELLIOTT & SON: Court Extends Cash Collateral Access to July 17 -------------------------------------------------------------- Elliott & Son Excavating, LLC received another extension from the U.S. Bankruptcy Court for the Eastern District of Tennessee to use cash collateral. Under the interim order, the Debtor is authorized to use cash collateral consisting of monthly revenues through July 17 to fund operating expenses in accordance with the court-approved budget. The budget projects total monthly operational expenses of $64,910.90. Recognizing the weather-dependent nature of the excavation and construction business, the court granted the Debtor flexibility to exceed budgeted amounts for equipment, equipment repairs and maintenance, fuel, materials, subcontractors, and other direct job costs by up to 20% during any budget period. Such variances will be considered authorized and will not constitute a default under the order. If the Debtor fails to comply with the terms of the order, the U.S. Trustee or U.S. Attorney may request a hearing to determine whether its Chapter 11 case should be dismissed or converted to one under Chapter 7. The order is available at https://is.gd/5hRbXz from PacerMonitor.com. A further hearing is scheduled for July 16. Elliott & Son was initially authorized to access cash collateral under the court's May 27 order. Since entry of the initial order, the Debtor has experienced unexpected weather-related delays that disrupted project scheduling and required adjustments to ongoing work. As a result, the Debtor incurred unanticipated but necessary operating costs to keep projects moving and maintain equipment in working condition. On June 10, the Debtor got the green light to use an additional $1,700 in cash collateral (consisting of $1,500 for materials needed for ongoing jobs and $200 for truck maintenance and repairs) outside of the initial operating budget approved by the May 27 order. About Elliott & Son Excavating LLC Elliott & Son Excavating, LLC is an excavation and site preparation contractor. Elliott & Son Excavating sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Tenn. Case No. 26-31028) on May 22, 2026, with up to $1 million in assets and up to $10 million in liabilities. Sheryl Elliot, sole member and company owner, signed the petition. Judge Suzanne H. Bauknight oversees the case. Kelli D. Holmes, Esq., at Tarpy, Cox, Fleishman & Leveille, PLLC, represents the Debtor as legal counsel. ENDO INT'L: Court Withdraws Reference in Silva, et al. Case ----------------------------------------------------------- Judge Nelson S. Roman of the U.S. District Court for the Southern District of New York granted the motion of Endo International plc's former directors and officers to withdraw the reference from the adversary proceeding captioned as MATTHEW DUNDON, Trustee of the Endo GUC Trust, Plaintiff, -against- RAJIV DE SILVA, DOUGLAS S. INGRAM, ARTHUR J. HIGGINS, NANCY J. HUTSON, ROGER H. KIMMEL, WILLIAM P. MONTAGUE, TODD B. SISITSKY, JILL D. SMITH, WILLIAM F. SPENGLER, PAUL V. CAMPANELLI, SUKETU P. UPADHYAY, KAREN A. WALLACE, BRIAN LORTIE, ANTONIO R. PERA, JOSEPH BARBARITE, and JOHN DOES 1–10, Defendants, Case No. 24-cv-7464 (S.D.N.Y.). In the wake of the Endo International plc ("Endo") bankruptcy, Plaintiff Matthew Dundon ("Plaintiff"), as Trustee of the Endo GUC Trust (the "GUC Trust"), commenced this adversary proceeding in the United States Bankruptcy Court for the Southern District of New York (the "Bankruptcy Court") against Defendants Rajiv De Silva, Douglas S. Ingram, Arthur J. Higgins, Nancy J. Hutson, Roger H. Kimmel, William P. Montague, Todd B. Sisitsky, Jill D. Smith, William F. Spengler, Paul V. Campanelli, Suketu P. Upadhyay, Karen A. Wallace, Brian Lortie, Antonio R. Pera, and Joseph Barbarite (together, "Defendants"), former directors and officers of Endo. The Complaint asserts claims under Delaware and Irish law with respect to Endo's distribution, marketing, and sale of certain opioid products. Defendants now move, pursuant to 28 U.S.C. Sec. 157(d) and Federal Rule of Bankruptcy Procedure 5011(a), to withdraw the reference of this adversary proceeding from the Bankruptcy Court. Defendants contend that the adversary proceeding is a non-core matter involving state and foreign law claims, that the Bankruptcy Court lacks authority to enter final judgment, and that withdrawal would promote judicial economy. Plaintiff opposes withdrawal, arguing that the adversary proceeding remains closely connected to Endo's bankruptcy, that the Bankruptcy Court's familiarity with the bankruptcy proceedings favors retaining the reference through pretrial proceedings, and that withdrawal would be premature at this stage of the litigation. Defendants argue that withdrawal is warranted because: (1) withdrawal is mandatory in light of the Bankruptcy Court's lack of final adjudicative authority and Defendants' right to a jury trial, and (2) considerations of judicial economy and efficiency favor immediate withdrawal. The District Court concludes that the Bankruptcy Court's inability to enter a final judgment, or conduct a jury trial in this matter, does not, standing alone, require immediate withdrawal of the reference. Defendants argue that judicial economy favors withdrawal because this case involves only non-core claims arising under Delaware and Irish law, the Bankruptcy Court lacks authority to enter final judgment, and the District Court will ultimately be required to review any proposed findings and conclusions de novo. Defendants likewise contend that the Bankruptcy Court possesses no particular expertise with respect to the fiduciary-duty claims at issue and that the case remains in its infancy. Plaintiff largely contends that withdrawing this action would be inefficient because Judge James Garrity, Jr. -- who oversaw the Endo bankruptcy proceedings for more than two years -- developed substantial familiarity with Endo's operations, the opioid-related liabilities that contributed to the bankruptcy, and the Plan that created the GUC Trust. As a result, Plaintiff concludes that the Bankruptcy Court is best positioned to supervise pretrial proceedings in this matter. The District Court is not persuaded that withdrawal at this stage will impose meaningful additional costs or delay upon the parties. Nor do certain claims asserted in this case -- arising under Irish corporate law -- involve matters as to which the Bankruptcy Court possesses specialized familiarity of or experience, such that withdrawing the reference will avoid the duplication of effort in resolving the case and is therefore a more efficient use of judicial resources. Although Plaintiff's claims were transferred to the GUC Trust pursuant to the Plan, the litigation concerns alleged prepetition conduct by Defendants occurring years before Endo sought bankruptcy protection. Taken together, these considerations persuade the Court that judicial economy favors withdrawal of the reference. The District Court concludes that permissive withdrawal of the reference is warranted. The Court finds that the non-core nature of Plaintiff's claims and considerations of judicial economy weigh in favor of withdrawal. The Court further concludes that Defendants' asserted right to a jury trial, while entitled to limited weight at this stage of the litigation, likewise supports withdrawal. Under these circumstances, Defendants have met their burden of demonstrating cause for permissive withdrawal under 28 U.S.C. Sec. 157(d). A copy of the Court's Opinion & Order dated June 15, 2026, is available at https://urlcurt.com/u?l=bHCmEN from PacerMonitor.com. About Endo International PLC Endo International plc (OTC: ENDPQ) is a generics and branded pharmaceutical company. It develops, manufactures, and sells branded and generic products to customers in a wide range of medical fields, including endocrinology, orthopedics, urology, oncology, neurology, and other specialty areas. On the Web: http://www.endo.com/ Endo International and certain of its subsidiaries initiated voluntary prearranged Chapter 11 proceedings (Bankr. S.D.N.Y. Lead Case No. 22-22549) on Aug. 16, 2022. On May 25, 2023, Operand Pharmaceuticals Holdco II Limited and Operand Pharmaceuticals Holdco III Limited each filed a voluntary Chapter 11 petition also in the U.S. Bankruptcy Court for the Southern District of New York. On May 31, 2023, Operand Pharmaceuticals II Limited and Operand Pharmaceutical III Limited each filed a voluntary Chapter 11 petition also in the Southern District of New York. The Company's cases are jointly administered before the Honorable James L. Garrity, Jr. Endo initiated the financial restructuring process after reaching an agreement with a group of its senior debtholders on a transaction that would substantially reduce outstanding debt, address remaining opioid and other litigation-related claims, and best position Endo for the future. This would allow the Company to advance its ongoing business transformation from a strengthened financial position to create compelling value for its stakeholders over the long term. Endo's India-based entities are not part of the Chapter 11 proceedings. The Company has filed recognition proceedings in Canada and expects to file similar proceedings in the United Kingdom and Australia. The Debtors tapped Skadden, Arps, Slate, Meagher & Flom, LLP as legal counsel; PJT Partners, LP as investment banker; and Alvarez & Marsal North America, LLC as financial advisor. Kroll Restructuring Administration, LLC, is the claims agent and administrative advisor. A Website dedicated to the restructuring is at http://www.endotomorrow.com/ Roger Frankel, the legal representative for future claimants in the Chapter 11 cases, tapped Frankel Wyron LLP and Young Conaway Stargatt & Taylor, LLP, as legal counsels, and Ducera Partners, LLC, as investment banker. Following confirmation of Endo's bankruptcy-exit plan, Matthew Dundon was appointed trustee of the Endo GUC Trust, which was created for the benefit of opioid victims and other Endo unsecured creditors. FACILAI LLC: Gets Interim OK to Use Cash Collateral --------------------------------------------------- Facilai, LLC got the green light from the U.S. Bankruptcy Court for the Northern District of California to use cash collateral. At the recently held hearing, the court authorized the Debtor to use cash collateral through Aug. 4 to fund its operations. The cash collateral primarily consists of rental income from three residential investment properties in California -- two in Hayward and one in Folsom. Together, the Hayward properties generate monthly rents of $4,400 and have an estimated value of $800,000, while the Folsom property generates $3,200 per month in rent and has an estimated value of $750,000. The Hayward properties are subject to loans held by American Financial Network and First Tech Federal Union, with combined debt totaling approximately $820,177, consisting of a mortgage balance, a home equity line of credit, property taxes, and insurance obligations. Meanwhile, the Folsom property is encumbered by a loan from General Mortgage Capital Corporation, with an outstanding balance of approximately $547,500, along with ongoing tax and insurance expenses. The Debtor intends to use the rental proceeds to pay expenses directly associated with maintaining the properties, including mortgage payments, taxes, insurance, and other operating costs. About Facilai LLC Facilai, LLC is a San Jose, California-based real estate holding company engaged in the ownership and management of real estate assets and investment properties. Facilai sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-50808) on May 19. In its petition, the Debtor reports estimated assets of approximately $5 million and estimated liabilities of approximately $25.1 million. Honorable Bankruptcy Judge Stephen L. Johnson handles the case. The Debtor is represented by Chris D. Kuhner, Esq., at Kornfield Nyberg Bendes Kuhner & Little. FALLS OF PARRAMATA: Seeks Interim Cash Collateral Access -------------------------------------------------------- Falls of Parramatta, LP and Falls of Town Park, LP ask the U.S. Bankruptcy Court for the Southern District of Texas, Houston Division, for authority to use cash collateral and provide adequate protection. The Debtors own and manage two apartment communities. Falls of Parramatta owns a 560-unit apartment complex located on Parramatta Lane in Houston, with an estimated value of approximately $35 million. Falls of Town Park owns a 294-unit apartment complex on Town Park Drive in Houston, with an estimated value of approximately $30 million. Both properties serve as the Debtors' primary operating assets and generate rental income that is critical to ongoing operations. However, financial difficulties led both entities to default on their loan obligations, ultimately prompting the Chapter 11 filings. Falls of Parramatta financed its property through several secured loans. In March 2023, it entered into a Multifamily Loan and Security Agreement with JLL Real Estate Capital, LLC for approximately $26.8 million, secured by the apartment complex and its proceeds. In June 2023, Parramatta borrowed an additional $4 million from Ace Mortgage Corp. and Susbar, Inc., secured by the property and an assignment of leases and rents. In March 2024, it obtained a further $1 million loan from Susbar, Inc. secured by the same collateral. Due to financial distress, Parramatta fell behind on payments under these obligations, resulting in default. Similarly, Falls of Town Park financed its property through secured debt. In July 2023, it entered into a loan agreement with JLL for approximately $22.2 million secured by the apartment complex and rental revenues. In July 2024, Town Park obtained an additional $4 million loan from Susbar, Inc. and Ace Mortgage Corp., also secured by the property and rental income. Town Park likewise became unable to meet its debt obligations and sought bankruptcy protection to address its financial challenges. Before the bankruptcy filings, the secured lenders—JLL Real Estate Capital, Ace Mortgage Corp., and Susbar, Inc.—issued Notices of Substitute Trustee Sale, signaling their intention to foreclose on the apartment properties. According to the Debtors, these creditors are the only parties holding secured interests in cash and receivables. Because rental income and related cash proceeds are subject to the lenders' liens and assignments of rents, those funds constitute cash collateral under the Bankruptcy Code and generally cannot be used without creditor consent or court authorization. To protect the interests of the secured creditors, the Debtors propose a package of adequate protection measures. First, they argue that continued operation of the apartment complexes will preserve and maintain the going-concern value of the lenders’ collateral. Second, they propose granting replacement liens on postpetition cash, rental income, accounts receivable, and other proceeds generated after the bankruptcy filing to the extent the lenders held valid and perfected liens on such collateral before the petition date. These replacement liens would maintain the same priority status that existed prepetition and are intended to compensate creditors for any diminution in the value of their cash collateral resulting from the Debtors' use of those funds. A copy of the motion is available at https://urlcurt.com/u?l=TAW8eX from PacerMonitor.com. About Falls of Parramatta, LP Falls of Parramatta, LP own and manage two apartment communities. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 26-90598) on June 2, 2026. In the petition signed by Rao J. Polavarapu, manager, the Debtor disclosed up to $50 million in both assets and liabilities. Judge Alfredo R. Perez oversees the case. Susan Tran Adams, Esq., at TRAN SINGH, LLP, represents the Debtor as legal counsel. FIRST BRANDS: Premium Guard Finalizes Phase 2 of Asset Acquisition ------------------------------------------------------------------ Janine Panzer of Bloomberg News reports that Premium Guard announced the completion of Phase 2 of its acquisition of select First Brands Group assets, securing filtration manufacturing operations and related equipment from facilities in Illinois and Ohio. The purchase includes key production lines used to manufacture oil, air, and cabin air filters. The transaction also delivers a sophisticated filtration technology research center and laboratory to Premium Guard's portfolio. Company executives said the acquisition strengthens both production capabilities and product development resources, positioning the business for continued growth in the automotive aftermarket industry, the report cites. As part of the transition, Premium Guard intends to move Greenville-based operations into its Albion manufacturing site. The company said the consolidation effort is expected to create efficiencies while supporting the reinstatement of approximately 300 engineering and manufacturing positions, according to Bloomberg. About First Brands Group First Brands Group, LLC, is a global supplier of aftermarket automotive parts, based in Rochester Hills, Michigan. On September 24, 2025, the Company's non-operational special purpose entities, Global Assets LLC, Global Lease Assets Holdings, LLC, Carnaby Capital Holdings, LLC, Broad Street Financial Holdings, LLC, Broad Street Financial, LLC, Carnaby Inventory II, LLC, Carnaby Inventory Holdings II, LLC, Carnaby Inventory III, LLC, Carnaby Inventory Holdings III, LLC, Patterson Inventory, LLC, Patterson Inventory Holdings, LLC, Starlight Inventory I, LLC and Starlight Inventory Holdings I, LLC each filed a voluntary petition for relief under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of Texas. Commencing on Sept. 28, 2025, First Brands Group, LLC and 98 affiliated debtors each filed a voluntary petition for relief under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of Texas. In its petition, First Brands Group listed $1 billion to $10 billion in estimated assets and $10 billion to $50 billion in estimated liabilities. The cases are pending before the Hon. Christopher M. Lopez, and are jointly administered under Case No. 25-90399, and consolidated for procedural purposes only. The Debtors tapped Weil, Gotshal and Manges, LLP as legal counsel; Lazard Freres & Co. as investment banker; Alvarez & Marsal North America, LLC as financial advisor; and C Street Advisory Group as strategic communications advisor. Kroll Restructuring Administration, LLC is the Debtors' claims, noticing and solicitation agent. Gibson, Dunn & Crutcher, LLP and Evercore serve as the Ad Hoc Group of Lenders' legal counsel and investment banker, respectively. The U.S. Trustee for Region 7 appointed an official committee to represent unsecured creditors in the Debtors' Chapter 11 cases. The Committee has hired M3 Advisory Partners, LP, as Financial Advisor; Cole Schotz P.C. as Efficiency and Local Counsel; and Brown Rudnick LLP as Co-Counsel. The U.S. Trustee has proposed Martin De Luca, Esq., at Boies Schiller Flexner LLP as Chapter 11 examiner. FLOAT ALASKA: Plan Exclusivity Period Extended to Aug. 24 --------------------------------------------------------- Judge Craig T. Goldblatt of the U.S. Bankruptcy Court for the District of Delaware extended FLOAT Alaska LLC and affiliates' exclusive periods to file a plan of reorganization and obtain acceptance thereof to Aug. 24 and Oct. 26, 2026, respectively. In a court filing, the Debtors explain that consideration of these factors demonstrates that ample cause exists to grant their requested extensions of the Exclusive Periods: * The Debtors file this Motion out of an abundance of caution in the event the Plan is not confirmed at the Combined Hearing. The extension request is reasonable and consistent with the efficient prosecution of these chapter 11 cases because it will provide the Debtors with additional time to consider important issues, negotiate, and draft or resolicit a plan in the event the Plan is not approved at the Combined Hearing. * These chapter 11 cases have been pending for almost four months. During these short four months, the Debtors have made significant progress. The requested extensions of the Exclusive Periods will provide the Debtors with the time needed to address any remaining issues and thereby permit the Debtors to focus on both resolving such issues in a manner that best serves their estates and creditors and establishing a framework for a consensual plan without the distraction of a looming exclusivity deadline. * The Debtors do not believe that the requested extension of the Exclusive Periods will harm the Debtors' creditors or other parties in interest. On the contrary, the Debtors have conducted these cases in an efficient manner, for the benefit of the Debtors' estates, their creditors and other parties in interest. The Debtors intend to use the extended Exclusive Periods to, among other things, administer the Debtors' estates and seek confirmation of the Plan, which will maximize value for the Debtors' creditors. Counsel to the Debtors: Paige N. Topper, Esq. Nicholas Smargiass, Esq. SAUL EWING LLP 1201 North Market Street Suite 2300 Wilmington, DE 19801-1125 Tel: 302-421-6800 Email: paige.topper@saul.com nicholas.smargiassi@saul.com - and - Zev M. Shechtman, Esq. 1888 Century Park East, Suite 1500 Los Angeles, CA 90067 Phone: (310) 255-6100 Email: zev.shechtman@saul.com About FLOAT Alaska LLC FLOAT Alaska LLC is the parent company of New Pacific Airlines and Ravn Alaska. The entity was formed in July 2020 and is engaged in aviation industry ventures that historically included scheduled air service, charter operations and regional connectivity in Alaska and beyond. FLOAT Alaska LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 26-10075) on Jan. 26, 2026. In its petition, the Debtor estimated assets between $1 million and $10 million and estimated liabilities between $10 million and $50 million. Bankruptcy Judge Craig T. Goldblatt handles the case. The Debtor is represented by Paige Noelle Topper, Esq. of Saul Ewing LLP. FLORIDA KEYS: Gets Interim OK to Use Cash Collateral ---------------------------------------------------- Florida Keys Lobster House, Inc. received interim approval from the U.S. Bankruptcy Court for the Southern District of Florida to use cash collateral. Under the interim order, the Debtor is authorized to use cash collateral from June 10 through the continued hearing on July 15, subject to an approved operating budget and a 10% variance on individual line items. All post-petition revenues must be deposited into debtor-in-possession accounts and used only in accordance with the budget. As of the petition date, the Debtor's cash collateral consisted of $24,050 in cash and bank deposits, ongoing restaurant revenues, receivables, and profits. Thirteen creditors assert pre-petition security interests in the Debtor's cash and assets via UCC-1 financing statements. Collectively, these creditors hold claims that vastly exceed the $280,560 total value of the Debtor's personal property. Among the creditors with known outstanding balances are US Foods, Inc. ($806,583), Lend Bug, LLC ($393,562), Advance Servicing, Inc. ($362,500), Epic Advance LLC ($307,500), and Prosperum Capital Partners LLC d/b/a Arsenal Funding ($150,775). The other creditors hold claims of unknown exact amounts, including Kapitus Funding (which occupies the first apparent priority position over substantially all assets), JPMorgan Chase Bank, N.A. (occupying the second apparent priority position), Swift Funding Source (now known as NewCo Capital Group VI LLC, in the third apparent position), CHTD Company, BMF Capital LLC, Avanza Group, LLC, First Corporate Solutions, and NewCo/BizCap. Several of these creditors such as CHTD, BMF, and First Corporate Solutions, appear to be filing in a representative capacity for undisclosed underlying funders, while Avanza Group's filing specifies an outright purchase of future receivables rather than a standard financing arrangement. As adequate protection, secured creditors will be granted replacement liens on post-petition cash collateral, with the same validity, priority, extent and enforceability as their pre-petition liens. In addition, the Debtor is required to make monthly payments of $3,000 to JPMorgan. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/MSjeL from PacerMonitor.com. The next hearing is scheduled for July 15. Due to poorly maintained books and records at the outset, the Debtor's counsel faced initial delays in stabilizing financial records, submitting the April 2026 monthly operating report, and identifying all potential secured creditors. Following a comprehensive reconciliation of its accounts and subsequent searches of the Florida Secured Transaction Registry, the Debtor finalized an interim six-month operating budget spanning April through October. About Florida Keys Lobster House Inc. Florida Keys Lobster House, Inc. is a hospitality company engaged in restaurant operations, specializing in seafood dining and related food service offerings. Florida Keys Lobster House sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-14233) on April 3, 2026, with assets of up to $50,000 and liabilities of between $1 million and $10 million. Judge Laurel M. Isicoff oversees the case. The Debtor tapped Chad Van Horn, Esq., at Van Horn Law Group, PA as bankruptcy counsel and Bishop, Rosasco & Co. as accountant. FLYWHEEL YALE: Initiates Chapter 11 Bankruptcy in Colorado ---------------------------------------------------------- On June 17, 2026, Flywheel Yale LLC filed for Chapter 11 protection in the U.S. Bankruptcy Court for the District of Colorado. According to court filings, the Debtor reports between $1 million and $10 million in debt owed to approximately 1–49 creditors. A meeting of creditors under Section 341(a) to be held on July 22, 2026 at 09:30 AM at Telephonic Chapter 11: Phone 888-330-1716, Access Code 8602461#. Government Proofs of Claim must be filed no later than December 14, 2026. The Debtor’s Chapter 11 Plan and Disclosure Statement are due on October 15, 2026. About Flywheel Yale LLC Flywheel Yale LLC is a fitness and wellness company that operates indoor cycling studios and provides health, fitness, and exercise-related services. Flywheel Yale LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-14367) on June 17, 2026. In its petition, the Debtor reported estimated assets of $1 million–$10 million and estimated liabilities of $1 million–$10 million. Honorable Bankruptcy Judge Joseph G. Rosania Jr. handles the case. FTX TRADING: Congress Pushes Back on Bankman-Fried Pardon Effort ---------------------------------------------------------------- Yash Roy of Bloomberg Law reports that lawmakers from both parties are pushing back against Sam Bankman-Fried's bid for a presidential pardon, urging President Donald Trump to reject the former cryptocurrency executive's clemency application. Bankman-Fried is currently serving a 25-year sentence following his conviction in the FTX fraud case. Senators Cynthia Lummis and Ruben Gallego are preparing legislation that would formally express the Senate's opposition to any pardon. The pair plans to seek expedited approval of the resolution, citing the scale of losses suffered by customers and investors following FTX's collapse, the report relays. The senators contend that clemency would send the wrong message regarding corporate misconduct and financial fraud. While the measure would not legally bind the president, it reflects bipartisan concern over the prospect of relief for one of the most prominent figures in the cryptocurrency industry's downfall, according to Bloomberg. About FTX Trading Ltd. FTX is the world's second-largest cryptocurrency firm. FTX is a cryptocurrency exchange built by traders, for traders. FTX offers innovative products including industry-first derivatives, options, volatility products and leveraged tokens. Then CEO and co-founder Sam Bankman-Fried said Nov. 10, 2022, that FTX paused customer withdrawals after it was hit with roughly $5 billion worth of withdrawal requests. Faced with liquidity issues, FTX on Nov. 9 struck a deal to sell itself to its giant rival Binance, but Binance walked away from the deal amid reports on FTX regarding mishandled customer funds and alleged US agency investigations. At 4:30 a.m. on Nov. 11, Bankman-Fried ultimately agreed to step aside, and restructuring vet John J. Ray III was quickly named new CEO. FTX Trading Ltd (d/b/a FTX.com), West Realm Shires Services Inc. (d/b/a FTX US), Alameda Research Ltd. and certain affiliated companies then commenced Chapter 11 proceedings (Bankr. D. Del. Lead Case No. 22-11068) on an emergency basis on Nov. 11, 2022. Additional entities sought Chapter 11 protection on Nov. 14, 2022. FTX Trading and its affiliates each listed $10 billion to $50 million in assets and liabilities, making FTX the biggest bankruptcy filer in the US this year. According to Reuters, SBF shared a document with investors on Nov. 10 showing FTX had $13.86 billion in liabilities and $14.6 billion in assets. However, only $900 million of those assets were liquid, leading to the cash crunch that ended with the company filing for bankruptcy. The Hon. John T. Dorsey is the case judge. The Debtors tapped Sullivan & Cromwell, LLP as bankruptcy counsel; Landis Rath & Cobb, LLP as local counsel; and Alvarez & Marsal North America, LLC as financial advisor. Kroll is the claims agent, maintaining the page https://cases.ra.kroll.com/FTX/Home-Index The official committee of unsecured creditors tapped Paul Hastings as bankruptcy counsel; Young Conaway Stargatt & Taylor, LLP as Delaware and conflicts counsel; FTI Consulting, Inc. as financial advisor; and Jefferies, LLC as investment banker. Montgomery McCracken Walker & Rhoads LLP, led by partners Gregory T. Donilon, Edward L. Schnitzer, and David M. Banker, is representing Sam Bankman-Fried in the Chapter 11 cases. White collar crime specialist Mark S. Cohen has reportedly been hired to represent SBF in litigation. Lawyers at Paul Weiss previously represented SBF but later renounced representing the entrepreneur due to a conflict of interest. G3 CONSTRUCTION: Seeks to Extend Plan Exclusivity to Oct. 15 ------------------------------------------------------------ G3 Construction Group, Inc. asked the U.S. Bankruptcy Court for the Northern District of Florida to extend its exclusivity periods to file a plan of reorganization and obtain acceptance thereof to Oct. 15 and Dec. 14, 2026, respectively. The Debtor submits that cause exists for the extension requested in the instant Motion. More specifically: * This case involves few, if any complex legal issues (except for the potential litigation between the Debtor, Webber, LLC, and others); * The Debtor is generally paying its post-petition debts as they come due; * The Debtor is in compliance with all of the operating guidelines of the United States Trustee; * The Debtor believes that a viable plan will be filed; * The Debtor seeks this additional extension of exclusivity in good faith, and not for the purpose of pressuring any creditors; * The Debtor needs more time to reach a resolution to the payment dispute with Webber, LLC (and potentially other third parties) to be able to prepare a correct and confirmable Chapter 11 Plan. G3 Construction Group Inc. is represented by: Robert C. Bruner, Esq. Byron Wright III, Esq. Bruner Wright, PA 2868 Remington Green Circle Tallahassee, FL 32308 Telephone: (850) 385-0342 Facsimile: (850) 270-2441 E-mail: rbruner@brunerwright.com E-mail: twright@brunerwright.com About G3 Construction Group Inc. G3 Construction Group, Inc. filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Fla. Case No. 26-50030) on Feb. 17, 2026, listing $1 million to $10 million in both assets and liabilities. Judge Karen K. Specie oversees the case. The Debtor tapped Byron Wright, III, at Bruner Wright, PA, as counsel, and Georgia Evans at Professional Management Systems, Inc. as accountant. GC HIGHLANDS: Secured Party Sets June 24, 2026 Public Auction ------------------------------------------------------------- In accordance with applicable provisions of the Uniform Commercial Code (the "UCC"), as enacted in the State of New York, MF1 Capital Mezz Seller IV LLC ("Secured Party"), a Delaware limited liability company, will offer for sale (the "Sale"), at public auction, all right, title, and interest of GC Highlands Mezz, LLC ("Pledgor"), a Delaware limited liability company, in and to 100% of the limited liability company membership interests together with all economic rights and governance rights associated therewith, in and to GC Highlands, LLC (the "Collateral"). GC Highlands, LLC is a Delaware limited liability company and the owner of the real property, and improvements thereon, commonly known as Highlands at the Lake and located at 100 Arbor Lake Boulevard, Hermitage, Tennessee 37076 (the "Property"). The Sale, which was originally scheduled for May 14, 2026 at 10:00 a.m. (ET), has been rescheduled to June 24, 2026 at 3:30 p.m. (ET) at the top of the front steps of the Courthouse of the New York County Supreme Court located at 60 Centre Street, New York, New York 10007 with an option to participate virtually via the following Zoom meeting link: https://bit.ly/HighlandsLakeUCC, Meeting ID: 861-3116-2978, Password: 624058, Call-in number: 1-646-931-3860 (US). The Sale will be conducted by Matthew D. Mannion of Mannion Auctions, LLC. Parties interested in bidding on the Collateral must contact Secured Party's counsel, Jack Doherty, Esq. of Holland & Knight LLP at (212) 751-3003 or jack.doherty@hklaw.com. Upon execution of a non-disclosure agreement, a copy of the Terms of Sale and additional documentation and information will be made available. Secured Party as lender, made a loan (the "Mezzanine Loan") to Pledgor in the original principal amount $936,500.00, in connection with the Mezzanine Loan, Secured Party obtained a first-priority lien on the Collateral pursuant to a certain Pledge and Security Agreement. Secured Party is conducting the Sale as a result of Pledgor’s default(s) under the applicable Mezzanine Loan documents. The Mezzanine Loan is subject to a senior loan (the "Senior Loan") and first-priority mortgage on the Property and the obligations and liabilities set forth in the Senior Loan documents. The Collateral is being offered as a single lot, "as-is, where-is", with no express or implied "warranties, representations, statements or conditions of any kind made by Secured Party or any person acting for or on behalf of the Secured Party, without any recourse whatsoever to the Secured Party or any other person acting for or on behalf of the Secured Party and each bidder must make its own inquiry regarding the Collateral. The successful bidder shall be responsible for the payment of all transfer taxes, stamp duties and similar taxes incurred in connection with the purchase of the Collateral. The Secured Party reserves the right to credit bid, set a minimum reserve price reject all bids and terminate or adjourn the sale to another time, without further notice. All bids (other than credit bids of the Secured Party) must be for cash, and the successful bidder must be prepared to comply with the bidding and closing requirements in the Terms of Sale. None of the Collateral has been registered for sale under any federal or state securities or blue sky laws, and as such may not be sold or otherwise transferred by Secured Party or a purchaser of any Collateral except in accordance with applicable law. GENERATIONS ON 1ST: Creditor Trust & Sale Proceeds to Fund Plan --------------------------------------------------------------- Red River State Bank ("RRSB" or the "Plan Proponent") submitted a Disclosure Statement describing First Amended Plan of Liquidation for Parkside Place, LLC, a debtor affiliate of Generations on 1st LLC, dated June 11, 2026. The Debtor is owned by Mr. Jesse Craig and historically, it was managed by his spouse, Ms. Mulinda Craig, through a business entity they own called CP Business Management, Inc. The Debtor's principal asset is an apartment building located at 8 2nd St. NE (the "Project") in Watertown, South Dakota (the "City"). The Project consists of a single, four-story apartment building with attached parking and approximately 3,803 square feet of ground floor commercial space. The building was built in 2021 and it has a useful life of approximately 55 years total. The residential portion of the building includes 36 apartment units. The occupancy rate of the building is over 95%, which is considered "stabilized" for a building of its kind. The apartments are leased at market rate and generate consistent monthly income for the Debtor. An average one-bedroom apartment in the Project rents for approximately $1,090 per month. Prior to the Petition Date, the Project went into default according to the terms of its secured notes with Red River State Bank. Gross rents were not sufficient to pay all expenses and debt service as they came due. In October 2024, a South Dakota state court appointed a receiver (called HME), an independent third party, to collect rents and operate the Project. Debtor filed this Chapter 11 bankruptcy case on January 6, 2025. As of the Petition Date, Debtor has two secured creditors. By prior stipulation, Debtor has allowed RRSB's Class 1 Claim in the amount of $5,400,000. RRSB has a valid first priority Lien in the Real Estate Collateral, in accordance with the terms of the Subordination Agreement. Watertown Development Company ("WDC") also has a Secured Claim against the Debtor. WDC submitted Proof of Claim No. 5 for $1,605,415.95. WDC's Claim is secured by a valid second priority Lien in the Real Estate Collateral, per the Subordination Agreement. The Plan provides two sources of recovery for creditors: a sale process and a creditor trust. First, RRSB has agreed to liquidate 100% of its Real Estate Collateral to fund the Plan. Sale Proceeds will be used to pay Administrative Claims, Priority Tax Claims, UST quarterly fees, RRSB's Class 1 Secured Claim, and all Class 4 Convenience Class claims. Second, the Plan will establish a Creditor Trust to fund the investigation and prosecution of any and all Causes of Action owned by the Debtor. Proceeds from the Sale of Real Estate Collateral of no less than $50,000 will be allocated to fund the work of the Creditor Trust. All proceeds of litigation or settlement will be distributed pro rata to Class 3 general unsecured Creditors. Class 3 consists of all allowed unsecured Claims for $5,000 or more: the RRSB Deficiency Claim, the WDC Deficiency Claim; and Claim 9 for $12,651.44. Holders of Class 3 Claims shall receive their pro rata share of all future distributions from the Creditor Trust. Class 3 is impaired and entitled to vote. Class 4 consists of Convenience Class Claims. The Plan Proponent anticipates there will be four holders of general unsecured claims for less than $5,000: George's Sanitation, Inc., White Glove Cleaning, Watertown Municipal Utilities, and Cannon Electric LLC. Holders of Class 4 claims will receive payment in full on the Effective Date. Class 6 consists of Holders of Equity Interests. Unless Sale Proceeds are sufficient to pay all Administrative Expenses, Priority Claims, and Classes 1-4 in full, all Equity Interests will be extinguished on the Effective Date. The Plan Proponent does not reasonably anticipate that Sale Proceeds will be sufficient to permit any distribution to Class 6 without violating the absolute priority rule. Class 6 is comprised exclusively of Insiders. On or as soon as practicable after the Confirmation Date, the Plan Proponent shall be authorized to retain an independent third-party management company called HME Properties, LLC to manage the Real Estate (the "Property Manager"). The Property Manager shall be responsible for collecting rents, paying ordinary expenses, repairs and maintenance pending the Sale. The Property Manager will be entitled to customary compensation not to exceed 5% of the monthly rent collected from the Real Property plus reimbursement of normal expenses. The Plan Proponent has received an offer from VKB to purchase the Real Estate Collateral for $4,850,000. If the Plan Proponent does not receive a Third Party Overbid and the Bankruptcy Court enters an order confirming the Plan, Debtor will be authorized to sell the Real Estate Collateral to VKB, pursuant to Sections 1123(a)(5)(d) and 1123(b)(4) of the Bankruptcy Code, with the consent of secured creditors, free and clear of all liens, claims, interests, and encumbrances to the maximum extent permitted by the Bankruptcy Code, with any such security interests attaching to the Sale Proceeds with the same validity, priority, and extent as existed prepetition, for subsequent distribution under the Plan. A trust shall be formed on the Effective Date for the benefit of creditors (the "Creditor Trust") pursuant to the Creditor Trust Agreement. On the Effective Date, all Causes of Action shall be assigned by Debtor to the Creditor Trust. The primary asset of the Creditor Trust shall be the potential avoidance of prepetition transfers to Insiders, the gross value of which exceeds $3.4 million, as described Section 2.6 of this Disclosure Statement. The Creditor Trustee shall investigate, litigate and/or settle Causes of Action for the benefit of all Holders of Class 3 Claims. With the consent of secured creditors, on or as soon as practicable after the Effective Date, the Debtor shall transfer no less than $50,000 from proceeds of the Sale of Real Estate Collateral to fund the Creditor Trust. A full-text copy of the Disclosure Statement dated June 11, 2026 is available at https://urlcurt.com/u?l=BE6sAM from PacerMonitor.com at no charge. Counsel to Plan Proponent: VOGEL LAW FIRM Caren W. Stanley, Esq. Kesha L. Tanabe, Esq. Drew J. Hushka, Esq. 218 NP Avenue PO Box 1389 Fargo, ND 58107-1389 Telephone: (701) 237-6983 Fax: (701) 476-7676 About Generations on 1st and Parkside Place Generations on 1st, LLC, a company in Fargo, N.D., and its affiliate Parkside Place, LLC, filed Chapter 11 petitions (Bankr. D.N.D. Lead Case No. 25-30002) on January 6, 2025. In their petitions, Generations on 1st reported total assets of $13,567,037 and total liabilities of $12,137,102 while Parkside Place reported $7,221,882 in assets and $5,599,522 in liabilities. Judge Shon Hastings handles the cases. The Debtors are represented by Maurice VerStandig, Esq. at The Dakota Bankruptcy Firm. Red River State Bank, as lender, is represented by Drew J. Hushka, Esq., at Vogel Law Firm. GENESIS HEALTHCARE: June 23 Disclosure Statement Hearing Set ------------------------------------------------------------ On May 11, 2026, Genesis Healthcare, Inc. and its Debtor Affiliates filed a Joint Chapter 11 Plan and the related Disclosure Statement. On May 26, 2026, filed a Motion for Entry of Order (I) Approving the Adequacy of the Disclosure Statement; (II) Approving Solicitation and Voting Procedures in Connection with Confirmation of Plan;(III) Approving the Forms of Ballots and Notices in Connection Therewith;(IV)Scheduling Certain Dates with Respect Thereto; and (V) Granting Related Relief (the "Solicitation Procedures Motion"), seeking approval of, among other things, (i) the adequacy of the information contained in the Disclosure Statement, (ii) proposed procedures for soliciting and tabulating votes on the Plan, and(iii) related dates and deadlines. Any objection to (i) the adequacy of information contained in the Disclosure Statement or (ii) the relief sought in the Solicitation Procedures Motion must be filed and served on undersigned counsel to the Debtors by no later than Tuesday, June 23, 2026 at 5:00 p.m. (prevailing Central Time). The Solicitation Procedures Motion and the relief sought therein, including the determination of the adequacy of the information contained in the Disclosure Statement, is for hearing on Tuesday, June 30, 2026 at 1:30 p.m. (prevailing Central Time)(the "Disclosure Statement Hearing") in the United States Bankruptcy Court for the Northern District of Texas, Dallas Division (the "Court") before the Honorable Chief Judge Stacey G C. Jernigan. Counsel for the Debtors and Debtors-in-Possession: Charles R. Gibbs, Esq. MCDERMOTT WILL& SCHULTE LLP 2801 N. Harwood Street, Suite2600, Dallas, TX 75201-1574 Telephone: (214) 295-8000 Facsimile: (972) 232-3098 Email: crgibbs@mcdermottlaw.com - and - Daniel M. Simon, Esq. Emily C. Keil, Esq. William A. Guerrieri, Esq. Catherine L. Bloomberg, Esq. Landon W. Foody, Esq. MCDERMOTT WILL& SCHULTE LLP 444 WestLake Street, Suite 4000 Chicago,IL 60606 Telephone: (312) 372-2000 Facsimile: (312) 984-7700 Email: dsimon@mcdermottlaw.com ekeil@mcdermottlaw.com wguerrieri@mcdermottlaw.com cbloomberg@mcdermottlaw.com lfoody@mcdermottlaw.com About Genesis Healthcare Inc. Based in Culver City, Calif., Genesis Healthcare Inc. is a medical group that provides physician services in Southern California. Genesis Healthcare has operated under the names Daehan Prospect Medical Group and Prospect Genesis Healthcare. Genesis Healthcare Inc. and several affiliated debtors sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Tex. Lead Case 25-80185) on July 9, 2025. In its petition, Genesis Healthcare Inc. listed between $1 billion and $10 billion in estimated assets and liabilities. The Hon. Bankruptcy Judge Stacey G. Jernigan handles the jointly administered cases. The Debtors employed McDermott Will & Schulte LLP as counsel; Jefferies LLC as investment banker; and Ankura Consulting Group, LLC, as restructuring advisors, and designated Louis E. Robichaux IV and Russell A. Perry as co-chief restructuring officers. Katten Muchin Rosenman LLP serves as special counsel at the sole direction of Jonathan Foster and Elizabeth LaPuma in their capacity as independent directors and members of the special investigation committee. The U.S. Trustee appointed an official committee of unsecured creditors in the Chapter 11 cases of Genesis Healthcare Inc. and affiliates. The committee retained Proskauer Rose LLP and Stinson LLP as its co-counsel; FTI Consulting, Inc., as its financial advisors; and Houlihan Lokey Capital, Inc. as its investment banker. GENPREX INC: Stockholders Approve Equity Plan, Reverse Split ------------------------------------------------------------ Genprex, Inc. stockholders approved an amended equity plan and authorized a potential reverse stock split at the company's 2026 annual meeting, according to a Form 8-K filing with the Securities and Exchange Commission. The amended and restated 2018 Equity Incentive Plan increases the number of common shares authorized for issuance under the plan by 1.85 million shares. The plan term runs through April 15, 2036. Stockholders also approved an amendment to the company's certificate of incorporation allowing a reverse stock split of issued common shares at a ratio ranging from 1-for-5 to 1-for-50 at any time before Dec. 31, 2027, subject to board approval and ratio selection. Jose Antonio Moreno Toscano and Ryan M. Confer were elected as Class III directors to serve until the 2029 annual meeting. Stockholders also ratified WithumSmith+Brown, PC as independent registered public accounting firm and approved named executive officer compensation on an advisory basis. About Genprex, Inc. Genprex, Inc. is a clinical-stage gene therapy company developing gene-based therapies for large patient populations with unmet medical needs. Its oncology platform uses a systemic, non-viral ONCOPREX Delivery System with lipid-based nanoparticles to deliver tumor suppressor gene-expressing plasmids to cancer cells. The company's lead oncology drug candidate, REQORSA Gene Therapy, is being developed in combination with approved cancer drugs to treat non-small cell lung cancer and small cell lung cancer, and its diabetes technology is designed for Type 1 and Type 2 diabetes. In an audit report dated March 30, 2026, WithumSmith+Brown, PC included substantial-doubt language, citing Genprex's accumulated deficit at Dec. 31, 2025 and significant operating losses and negative cash flows from operations since inception. The auditor said those conditions raised substantial doubt about the company's ability to continue as a going concern. As of March 31, 2026, Genprex reported total assets of $20.31 million, total liabilities of $3.38 million and total stockholders' equity of $16.93 million. GILL RANCH: Claims to be Paid from Asset Sale Proceeds ------------------------------------------------------ Environmental Stewardship Foundation ("ESF") filed with the U.S. Bankruptcy Court for the Northern District of California a First Amended Disclosure Statement describing Plan of Reorganization for Gill Ranch LLC dated June 11, 2026. The Debtor was formed in connection with the acquisition of a 10,400-acre tract of land in Sacramento County known as the "Gill Ranch". Prior to the bankruptcy filing in 2024, the Debtor had two lines of business: (a) ownership of approximately 525 acres of real property from and on which it grew, harvested and sold crops (the "Vineyard Business"); and (b) ownership of approximately 6508 acres of real property in Sacramento County for use and monetization as a conservation and mitigation bank to provide high-quality and sustainable mitigation alternatives for developers that are required to mitigate the environmental impacts of development as a condition of approval for their permitted activity (the "Mitigation Bank Business"). The insiders of the Debtor include Chris Vrame, Vrame Resources, Pools, CR II, PCCP Pools I and PCCP. Andrew De Camara, the Debtor's former Chief Restructuring Officer, and Jared Wada, Debtor's current Chief Restructuring Officer, are also insiders. Environmental Stewardship Foundation is a California nonprofit public benefit corporation. ESF was formed by Chris Vrame (who is also ultimately the manager of Gill Ranch, LLC by virtue of his role as manager of Vrame Resources, the sole equity holder in and manager of Gill Ranch, LLC) in 2000. Mr. Vrame caused multiple conservation easements to be recorded in favor of ESF and arranged for the deposit of the charitable endowment funds required to fund ESF's obligations under those conservation easements in perpetuity) in order to preserve and protect it for public charitable purposes. On and after October 18, 2013, ESF's Board of Directors first began to discover that Gill Ranch, LLC and other related entities owned/controlled by Chris Vrame (whose staff, all employed by Chris Vrame and those entities) had secretly been taking ESF's charitable endowment and other funds from ESF's investment and bank accounts and using for their own for-profit purposes, contrary to California law regarding permissible uses of nonprofit funds and assets, and contrary to ESF's bylaws and the agreements under which the endowments and easements had been contributed. During the Chapter 11 case Debtor negotiated three related transactions. First, Debtor negotiated a sale of its remaining environmental mitigation rights to Ecosystem Investment Partners V, LLC. Second, the Debtor sold approximately 500 acres, including certain vineyard property, to Gill Ranch Vineyard, LLC. Third, in exchange for a release of ESF's liens on the property sold in the first two transactions, Debtor entered into a settlement agreement with ESF. Under the settlement agreement, Debtor granted ESF the right to pursue the Tsakopolous Litigation, and granted Debtor additional liens on the proceeds of that litigation. As of March 31, 2026 Debtor had cash balances totaling $122,758. Debtor held accounts receivable reported on Debtor's Schedules of Assets and Liabilities worth $0.00. Debtor is submitting an application for disaster relief seeking approximately $500,000. Collection of this amount is uncertain at this time. Finally, Debtor owns approximately 1,773 acres of land in Sacramento County, subject to a lease disputed in the Tsakopoulos Litigation. As set forth in the Plan, Debtor and ESF have agreed that the value of this property is $675,000 with its existing encumbrances. Class 3 general unsecured claims, not including the undersecured portion of ESF's claim, total from $671,047.46 to $912,547.46, depending on potential claim objections. Holders of Allowed Class 3 general unsecured claims shall receive distributions as set forth in Article VII.F of the Plan. In order to facilitate payments to Class 3 general unsecured claims, ESF has voluntarily agreed to release its liens on 3% of Debtor's remaining assets after payment of all pre-confirmation administrative expenses and all post-confirmation expenses of the Debtor. This Class is impaired. Holders of Class 4 Equity Interests shall retain their interests, but, as set forth more fully in Section VII.A of the Plan, will have no management rights or other rights other than the retention of economic interests in the Debtor. Payments and distributions under the Plan will be funded as follows. Plan Administrator shall collect all assets of the Debtor, and shall sell any such non-cash assets in the time frame and manner that Plan Administrator deems appropriate, after consultation with ESF. ESF, on behalf of the Debtor, shall prosecute the Tsakopolous Litigation. To the extent the Tsakopolous Litigation generates proceeds, the proceeds will be treated as set forth in Section VI.D of the Plan. In general, cash proceeds of any such litigation will be deposited in the trust account of ESF's counsel and net proceeds, after withholding of ESF's fees, will be distributed to the Plan Administrator for distribution to creditors. Non-cash proceeds of the Tsakopolous Litigation will be sold or otherwise liquidated by the Plan Administrator, with proceeds of the disposition used first to reimburse ESF's litigation expenses, and the remainder distributed to creditors. A full-text copy of the First Amended Disclosure Statement dated June 11, 2026 is available at https://urlcurt.com/u?l=MZyv3x from PacerMonitor.com at no charge. Counsel to Environmental Stewardship Foundation: WILKE FLEURY LLP Steve Williamson, Esq. Daniel L. Egan, Esq. Jason G. Eldred, Esq. 621 Capitol Mall, Suite 900 Sacramento, California 95814 Telephone: (916) 441-2430 Facsimile: (916) 442-6664 About Gill Ranch, LLC Gill Ranch, LLC is a limited liability company in San Francisco, Calif. Gill Ranch sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Calif. Case No. 24-30886) on November 25, 2024, with $10 million to $50 million in both assets and liabilities. Andrew De Camara, chief restructuring officer of Gill Ranch, signed the petition. Judge Hannah L. Blumenstiel oversees the case. The Debtor is represented by Ori Katz, Esq., at Sheppard Mulllin Richter & Hampton, LLP. GOSSAMER BIO: Closes Note Exchange, $18.95M to Remain Outstanding ----------------------------------------------------------------- Gossamer Bio, Inc., a biopharmaceutical company focused on the development and commercialization of seralutinib for the treatment of pulmonary arterial hypertension (PAH) and pulmonary hypertension associated with interstitial lung disease (PH-ILD), announced on June 17, 2026, the final tender results of its previously announced exchange offer to exchange any and all of its 5.00% Convertible Senior Notes due 2027 for a pro rata portion of: (i) up to $72.0 million in aggregate principal amount of its new 7.50% Convertible Senior Secured First Lien Notes due 2030, (ii) up to 317,647,058 shares of its common stock or, in lieu of issuing shares of Common Stock to the extent such shares would cause any holders of Existing Convertible Notes that are "qualified institutional buyers" as defined in Rule 144A under the Securities Act to beneficially own greater than 9.99% of the outstanding Common Stock, prefunded warrants to purchase shares of Common Stock and (iii) with respect to Eligible Holders who tender prior to the Extended Early Tender Date, warrants to purchase shares of Common Stock. As previously announced, as of 5:00 p.m., New York City time, on June 2, 2026, $181,052,000 in aggregate principal amount of Existing Convertible Notes was validly tendered in the Exchange Offer and not validly withdrawn and related consents to the Proposed Amendments were validly delivered and not validly withdrawn as of such time, and the Company and the Required Supporting Noteholders agreed to amend the condition to the Exchange Offer that a minimum of 98% of the aggregate principal amount of Existing Convertible Notes be validly tendered to a minimum of 90.5% of the aggregate principal amount of Existing Convertible Notes be validly tendered. As a result, early settlement of Offered Securities in exchange for the Early Tendered Notes validly tendered and not validly withdrawn as of the Extended Early Tender Date occurred on June 4, 2026, and the Company entered into a supplemental indenture eliminating substantially all of the restrictive covenants in the indenture governing the Existing Convertible Notes, as well as certain events of default and related provisions applicable to the Existing Convertible Notes. As of 5:00 p.m., New York City time, on June 16, 2026, based on information provided by D.F. King & Co., Inc., which is acting as the exchange agent and information agent for the Exchange Offer, no additional Existing Convertible Notes were validly tendered in the Exchange Offer. As a result, $18,948,000 in aggregate principal amount of the Existing Convertible Notes will remain outstanding following this Exchange Offer. About Gossamer Bio Gossamer Bio is a biopharmaceutical company focused on the development of treatments for pulmonary hypertension. Its goal is to be an industry leader in, and to enhance the lives of patients living with, pulmonary hypertension. GRABOYES LLC: Seeks Cash Collateral Access ------------------------------------------ Graboyes, LLC asks the U.S. Bankruptcy Court for the Eastern District of Pennsylvania for authority to use cash collateral and provide adequate protection. The Debtor needs to use cash collateral to fund ordinary course operations, payroll, and administrative costs in accordance with an agreed-upon budget. The Debtor’s prepetition debt structure primarily involves Truist Bank, which provided a $1.5 million line of credit and a $5 millino Small Business Administration term loan on December 30, 2024. These obligations are cross-collateralized and secured by first-priority prepetition liens on substantially all of the Debtor’s assets, excluding real property. As of the June 5, 2026 petition date, the Debtor owes Truist $4.7 million under the SBA loan and $1.472 million under the line of credit, plus accrued interest, fees, and costs. Additionally, the Debtor entered into prepetition Merchant Cash Advance agreements with various MCA parties, which allege direct obligations of approximately $812,000 and an additional $1,314,000 in alleged guarantees. Although certain MCA parties filed UCC-1 financing statements and asserted rights over the Debtor's prepetition accounts receivable, their statements were filed after Truist's, reducing the value of their secured claims to zero due to Truist’s first-priority position. Despite this, the MCA parties issued redirection notices to the Debtor's customers and business counterparties, causing these third parties to freeze payments. Consequently, the Debtor is explicitly requesting the court to authorize and direct the release of these frozen prepetition accounts receivable payments so they can be utilized in its operations. To provide adequate protection to Truist for the diminution in value of its collateral, the Debtor proposes granting Truist valid, automatically perfected postpetition replacement security interests and first-priority senior liens on the Debtor's postpetition assets, excluding Chapter 5 avoidance actions. Truist will also receive an allowed section 507(b) superpriority administrative expense claim senior to all other administrative expenses, cash payments for accruing interest and fees at prepetition rates, and reimbursement for reasonable prepetition and postpetition professional fees. All of Truist's liens and superpriority claims will be subject only to prepetition permitted liens and a designated carve-out. The carve-out includes statutory U.S. Trustee fees, claims/noticing agent costs, and budgeted professional fees up to a $125,000 post-default cap. Professional fees will be funded weekly into a segregated reserve account managed by Saul Ewing LLP, and upon a default trigger notice, the Debtor will still be permitted to use cash collateral to cover ordinary weekly payroll obligations. A copy of the motion is available at https://urlcurt.com/u?l=7TIXF3 from PacerMonitor.com. About Graboyes LLC Graboyes LLC is a Pennsylvania-based manufacturer and supplier of custom windows and related building products serving the residential and commercial construction markets. The company has built its business around producing energy-efficient window systems and providing installation and support services to contractors, developers, and property owners throughout the region. Graboyes LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Pa. Case No. 26-12458) on June 5, 2026. In its petition, the Debtor reports estimated assets between $1 million and $10 million and estimated liabilities between $10 million and $50 million. Honorable Bankruptcy Judge Patricia M. Mayer handles the case. The Debtor is represented by Jeffrey Charles Hampton, I, Esq. of Saul Ewing LLP. HALL'S GAS: Aaron Cohen Named Subchapter V Trustee -------------------------------------------------- The Acting U.S. Trustee for Region 21 appointed Aaron Cohen, Esq., a practicing attorney in Jacksonville, Fla., as Subchapter V trustee for Hall's Gas Services Inc. Mr. Cohen will be paid an hourly fee of $325 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Cohen declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Aaron R. Cohen, Esq. P.O. Box 4218 Jacksonville, FL 32201 Tel: (904) 389-7277 Email: aaron@arcohenlaw.com About Hall's Gas Services Inc. Hall's Gas Services Inc. filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. M.D. Fla. Case No. 26-02584) on June 9, 2026, with $100,001 to $500,000 in assets and $500,001 to $1 million in liabilities. Judge Jason A. Burgess presides over the case. Thomas C. Adam, Esq., at Adam Law Group, P.A. represents the Debtor as bankruptcy counsel. HALLMARK FINANCIAL: Enters RSA for Chapter 11 Restructuring ----------------------------------------------------------- Hallmark Financial Services, Inc. announced on June 15, 2026, that it has initiated a strategic transaction to strengthen its financial position, support long-term growth, and provide stability for its policyholders, agents, business partners, and other stakeholders. The Company has entered into a Restructuring Support Agreement which contemplates a restructuring transaction with Hildene Capital Management, LLC and certain of its affiliates, whose clients collectively comprise the majority holder of Hallmark's debt obligations. Hallmark's insurance company subsidiaries are not part of the proceeding and will continue to operate in the ordinary course during the restructuring process. "Over the past two years, we have taken meaningful actions to address legacy challenges at our parent company, including exiting underperforming businesses and improving liquidity," said Chris Kenney, President and Chief Executive Officer of Hallmark. "With the support of our lenders, this transaction is the right next step to strengthen our balance sheet, enhance financial flexibility, and position Hallmark for long-term success. We appreciate Hildene's support and confidence in our business and believe this transaction positions Hallmark for a stronger future." Kenney continued, "Importantly, our insurance company subsidiaries continue to perform well and are not part of this process. We remain fully committed to servicing and partnering with policyholders, agents, and vendors without interruption, and we expect normal business operations to continue." To implement the terms of the RSA, Hallmark has filed a voluntary petition for reorganization under Chapter 11 of the Bankruptcy Code in the Northern District of Texas. The petition includes a prepackaged plan of reorganization, which allows the Company's professionals to solicit alternative proposals during this process. The Company expects to emerge from the Chapter 11 process in less than 90 days, subject to regulatory approval. Hallmark has also filed customary "first-day" motions that will allow the Company to maintain business operations and uphold its commitments to employees, agents, policyholders, and vendors, including continued payment of employee wages and benefits. Hallmark intends to pay vendors in full under normal terms for goods and services provided on or after the filing date. The Company has sufficient cash on hand and does not require Debtor-in-Possession financing. Additional information regarding the court-supervised process, including court filings and information regarding the claims process, can be found at https://cases.stretto.com/Hallmark. Advisors Hallmark Financial Services is advised by Gray Reed as restructuring counsel, Olshan Frome Wolosky LLP as corporate counsel, Oliver Wyman, LLC as financial advisor with William K. Snyder, a partner at Oliver Wyman, LLC, as Chief Restructuring Officer, Raymond James as investment banker, and Prosek Partners as strategic communications advisor. Parties interested in pursuing an alternative restructuring transaction with the Company may contact the Company's advisors. About Hallmark Hallmark Financial Services, Inc. is a diversified property & casualty insurance company offering commercial and personal insurance solutions to businesses and individuals in specialty and niche markets on an admitted basis. The Company is licensed and eligible to write admitted and non-admitted business in 47 and 44 states, respectively, and the MGAs are licensed to produce business in 44 states. Hallmark was founded in 1987 and is headquartered in Dallas, Texas. HAMM RE PARTNERS: 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 Hamm RE Partners, LLC. 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 Hamm RE Partners LLC Hamm RE Partners, LLC is a Woodland Hills, California-based real estate investment company whose primary asset is a single-family residential property at 4434 Verdiccio Avenue in Las Vegas. Hamm RE Partners filed a petition under Chapter 11, Subchapter V of the Bankruptcy Cod (Bankr. D. Nevada Case No. 26-13628) on June 9, 2026, with $1 million to $10 million in both assets and liabilities. Seth D. Ballstaedt, Esq., at Ballstaedt Law Firm, LLC, doing business as Fair Fee Legal Services, represents the Debtor as bankruptcy counsel. HARTFORD CREATIVE: Posts $557K Income in Q3; Going Concern Remains ------------------------------------------------------------------ Hartford Creative Group, Inc. has filed its Quarterly Report on Form 10-Q with the U.S. Securities and Exchange Commission, reporting a net income of $557,104 for the three months ended April 30, 2026, compared to a net income of $90,957 for the same period in the prior year. For the nine-month period ended April 30, 2026, the Company reported a net income of $614,735, compared to a net income of $362,241 in the corresponding prior-year period. Revenues for the three months ended April 30, 2026 were $1.05 million, compared to $354,791 in the prior-year period. Revenues for the nine months ended April 30, 2026 decreased to $1.58 million from $1.20 million in the same period of the prior year. GOING CONCERN As of April 30, 2026, the Company had a working capital of $522,279 and an accumulated deficit of $4,196,998. Although the Company's working capital position and operating results have improved, the Company is in the early stage of transitioning to its new business model, and there can be no assurance regarding the successful execution or profitability of these new operations. The Company's accumulated deficit, limited operating history under its new business model, and dependence on future operating performance and financing activities raise substantial doubt about its ability to continue as a going concern within the next 12 months. Management has developed plans intended to mitigate the conditions that raise substantial doubt. Based on the Company's current operating plan, management expects continued revenue growth and projects the generation of operating income during the next 12 months, which is expected to improve operating cash flows and support ongoing operations. In addition, management plans to fund any short-term working capital needs through a combination of operating cash flows, potential equity or debt financing, and continued financial support from related parties if necessary. Historically, related parties have provided financial support to the Company in the form of advances to fund operations. As of the date of this filing, no formal written loan agreements, standby financing arrangements, guarantees, or other binding commitments from related parties have been executed. While management believes its plans are reasonable and that the company may be able to generate sufficient cash flows to support operations, such plans are dependent upon future events and circumstances, including achieving projected operating results and obtaining additional financing, if necessary, neither of which can be assured. Accordingly, management has concluded that substantial doubt about the Company's ability to continue as a going concern has not been alleviated. A full text copy of the Company's Form 10-Q is available at https://tinyurl.com/5b25e4p2 About Hartford Creative Group Hartford Creative Group, Inc. provides advertisement placement services in China and is engaged in the design, creation, and placement of video advertisements for major social media platforms. The Company primarily engages in social media advertising on mainstream platforms such as TikTok, Toutiao, Kwai, RED, and WeChat. As of March 31, 2026, the Company had $4.18 million in total assets, $3.24 million in total liabilities, and $934,693 in total stockholders' equity. HAYAT'S KITCHEN: Unsecureds Will Get 93.3% over 60 Months --------------------------------------------------------- Hayat's Kitchen Inc. filed with the U.S. Bankruptcy Court for the Central District of California a Plan of Reorganization under Subchapter V dated June 9, 2026. The Debtor is a corporation duly organized in California and operates a Middle Eastern (Lebanese) restaurant in the North Hollywood area of Southern California. The location is 11009 Burbank Blvd Unit 117, North Hollywood, CA. 91601. There are approximately 20 total employees, three of whom are insiders as defined by The Bankruptcy Code. The Debtor and its principal were parties to State Court Litigation initiated by the Estate's largest creditor, Mr. Ziad Corban. The State Court Litigation referenced resulted in an adverse outcome to the Debtor, which culminated in a judgment against the Debtor and the Debtor's principal Hassan Shatila. Although there is an appeal pending, the Debtor and its principal combined could not afford the cost of a bond necessary to stay enforcement while the appeal is pending. As such, the Debtor sought relief under the Bankruptcy Code by filing a voluntary petition under Chapter 11, Subchapter V in order to preserve operations, protect its employees, and to reorganize its affairs. The Debtor intends to use its cash on hand on the Effective Date and revenue from the Debtor's continued operations to fund the Plan. The Debtor's projections are based upon historical operating results, Debtor's modified expenses, Debtor's anticipated revenue from the continuing operations of Hayat's, and Debtor's projections of modest growth of its business over the next five years. Class 3 consists of General Unsecured Claims. Holders of allowed Class 3 claims shall receive a pro rata share of the Debtor's projected disposable income, distributed quarterly over the five-year (60-month) term of the Plan, commencing the first full quarter after the Effective Date. Debtor estimates Class 3 will receive 93.3% of allowed claims that have not been otherwise objected to or disallowed. Total amount of Class 3 claims is estimated to total approx. $367,020.60. This Class is impaired. Class 4 consists of the equity interests of the Debtor. On the Effective Date, Hassan Shatila will retain his 100% interest in the Debtor. The Plan will be funded from the Debtor's cash on hand on the Effective Date and future income and, in the event the Plan is confirmed. A full-text copy of the Subchapter V Plan dated June 9, 2026 is available at https://urlcurt.com/u?l=nTema9 from PacerMonitor.com at no charge. Counsel to the Debtor: Eric Bensamochan, Esq. The Bensamochan Law Firm, Inc. 2566 Overland Ave., Suite 650 Los Angeles, CA 90064 Telephone: (818) 574-5740 Email: eric@eblawfirm.us About Hayats Kitchen Hayats Kitchen, Inc., operates as a small-scale restaurant business in California, providing food and dining services within its local market. Hayats Kitchen, Inc., sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-10498) on March 11, 2026. In its petition, the Debtor estimated assets of up to $100,000 and liabilities of $100,001 to $1,000,000. Honorable Bankruptcy Judge Victoria S. Kaufman handles the case. The debtor is represented by Eric Bensamochan, Esq. of The Bensamochan Law Firm, Inc. HEALTHCARE FOR ALL: Gets OK to Use Cash Collateral Until July 12 ---------------------------------------------------------------- Healthcare for All Women OB/GYN, PLLC and affiliates received second interim approval from the U.S. Bankruptcy Court for the Eastern District of New York to use cash collateral. Under the second interim order, the Debtors are authorized to use cash collateral from the petition date through July 12 to fund operations in accordance with an approved budget. The Debtors' cash collateral primarily involves funds in which JPMorgan Chase Bank and the U.S. Small Business Administration may assert security interests, as well as certain equipment secured by purchase-money liens. To ensure their interests are protected, the lenders will be granted replacement liens on all of the Debtors' assets and their proceeds in the same order of priority as their pre-petition liens, subject only to carveout for Chapter 11 professional fees, U.S. Trustee fees, and fees of a hypothetical Chapter 7 trustee. As additional protection, the Debtors will remit to the SBA the sum of $731 per month and to JPMorgan up to the amounts set forth in the budget, subject to availability of such funds. The order is available at https://shorturl.at/3Pzqi A copy of the Debtor's budget is available at https://shorturl.at/5Q8Bz from PacerMonitor.com. The next hearing is set for July 9. The deadline for filing objections is on July 2. About Healthcare for All Women OB/GYN Healthcare for All Women OB/GYN PLLC, which operates a women's health clinic in Great Neck, New York, provides obstetric and gynecological services including preventive care, reproductive health management, and routine screenings. The practice delivers patient-centered care through services such as prenatal management, gynecologic examinations, and diagnostic evaluations, supporting patients across different stages of care within a single clinical setting. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. N.Y. Case No. 26-71056) on March 17, 2026. In the petition signed by Sarita Khatri, MD, managing member, the Debtor disclosed $7,306,957 in total liabilities. Robert J. Spence, Esq., at Spence Law Office, P.C., represents the Debtor as bankruptcy counsel. HIGHLAND HOMES: Case Summary & 13 Unsecured Creditors ----------------------------------------------------- Debtor: Highland Homes of Sebastian, Inc. d/b/a Highland Homes Roofing f/d/b/a Roof Repairs Only, Inc. d/b/a Roof Repairs Only 11650 Hewlett Drive Sebastian, FL 32958 Business Description: Highland Homes of Sebastian, Inc., doing business as Highland Homes Roofing, provides residential roofing services in Sebastian, Florida. The company offers services including new roofs, roof installations and re-roofing, roof repairs, storm repairs, roof inspections, and roofing advice. Founded in 1986, Highland Homes Roofing serves homeowners across Vero Beach, Wabasso, Fort Pierce, Indian River County, Brevard County, and the Treasure Coast. Chapter 11 Petition Date: June 13, 2026 Court: United States Bankruptcy Court Southern District of Florida Case No.: 26-17749 Judge: Hon. Erik P Kimball Debtor's Counsel: Paul N. Mascia, Esq. NARDELLA & NARDELLA, PLLC 135 W. Central Blvd., Suite 300 Orlando, FL 32801 Tel: 407-966-2680 E-mail: pmascia@nardellalaw.com Total Assets: $1,324,346 Total Liabilities: $2,698,878 The petition was signed by Francois Pelletier as president. A full-text copy of the petition, which includes a list of the Debtor's 13 unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/RJPRKXY/Highland_Homes_of_Sebastian_Inc__flsbke-26-17749__0001.0.pdf?mcid=tGE4TAMA HOLLYWOOD HORIZONS: Secured Party Sets July 8, 2026 Auction ----------------------------------------------------------- In accordance with applicable provisions of the Uniform Commercial Code as enacted in New York, by virtue of certain Events of Default under those certain Ownership Interests Pledge and Security Agreement(s), dated as of May 16, 2022 (the "Pledge Agreements"), executed and delivered by HOLLYWOOD HORIZONS MEMBER LLC (the "Pledgor", and in accordance with it rights as holder, of the security, HOLLYWOOD POMPANO LENDER 2 LLC (the "Secured Party"), by virtue of possession of those certain Share Certificates, held in accordance with Article 8 of the Uniform Commercial Code of the State of New York (the "Code"), and by virtue of those certain UCC-1 Filing Statements made in favor of Secured Party, all in accordance with Article 9 of the Code, Secured Party will offer for sale, at public auction: (i) all of Pledgors' right, title, and interest in and to the following: HOLLYWOOD HORIZONS OWNER LLC (the "Pledged Entity") and (ii) certain related rights and property relating thereto (collectively, (i) and (ii) are the "Collateral"). Secured Party's understanding is that the principal asset of the Pledged Entity is the premises located at (i) 101 North Ocean Drive, Hollywood, FL (the "Property"). Mannion Auctions, LLC ("Mannion"), under the direction of Matthew D. Mannion (the "Auctioneer"), will conduct a public sale consisting of the Collateral (as set forth in Schedule A below, via online bidding, on July 8, 2026 at 3:30 p.m., in satisfaction of an indebtedness in the approximate amount of $23,507,267.67, including principal, interest on principal and reasonable fees and costs, plus default interest through July 8, 2026, subject to open charges and all additional costs, fees and disbursements permitted by law. The Secured Party reserves the right to credit bid. The UCC sale was originally scheduled for December 22, 2025, and thereafter, adjourned to January 21, 2026, January 28, 2026, February 23, 2026, April 29, 2026, and May 18, 2026. Online bidding will be made available via Zoom Meeting: Meeting link: https://bit.ly/UCCHollywood Meeting ID: 811 7381 9425 Passcode: 438147 One Tap Mobile: +16469313860,,81173819425#,,,,*438147# US +16465588656,,81173819425#,,,,* 438147# US (New York) Dial by your location: +1 646 931 3860 US Bidder Qualification Deadline: Interested parties who intend to bid on the Collateral must contact Brett Rosenberg at Jones Lang LaSalle Americas, Inc. ("JLL"), 330 Madison Avenue, New York, NY 10017, (212) 812-5926, Brett.Rosenberg@jll.com, to receive the Terms and Conditions of Sale and bidding instructions by July 7, 2026 by 4:00 p.m. (EST). Upon execution of a standard confidentiality and nondisclosure agreement, which can be found at the following link www.PompanoBeachandHollywoodFloridaUCCSale.com, additional documentation and information will be available. Interested parties who do not contact JLL and qualify prior to the sale will not be permitted to enter a bid. SCHEDULE A: PLEDGED INTEREST: PLEDGOR: HOLLYWOOD HORIZONS MEMBER LLC, a Delaware limited liability company. ISSUER: HOLLYW00D HORIZONS OWNER LLC, a Delaware limited liability company. INTEREST PLEDGED: 100% limited liability company interests. The UCC1 was filed on June 7, 2022, with the Delaware Department of State under Filing No. #20224781548. KRISS & FEUERSTEN LLP, Attn: Jerold C. Feuerstein, Esq., Attorneys for Secured Party, 360 Lexington Avenue, Suite 1200, New York, NY 10017, (212) 661-2900. HOUSE WINE: Gets Interim OK to Use Cash Collateral -------------------------------------------------- House Wine Austin, LLC received interim approval from the U.S. Bankruptcy Court for the Western District of Texas, Austin Division, to use cash collateral. Under the interim order, the Debtor is authorized to use cash collateral in accordance with the court-approved budget pending the final hearing. The Debtor may exceed any line item by up to 10%, provided that the total authorized amount is not exceeded by more than 10%. The Debtor's operating budget covers the period from June 8 through July 6 and indicates that revenues have been trending upward in recent months. The business generated approximately $47,792 in revenue in March, $70,531 in April, and $67,716 in May, suggesting a recovering and improving operating performance. As of the bankruptcy filing, the Debtor possessed approximately $2,519 in cash and expected to generate between $12,000 and $15,000 in receivables from weekend operations. The business also maintains inventory valued at roughly $35,000. The Debtor estimated that the total assets potentially subject to cash collateral claims do not exceed approximately $55,000. The Debtor's counsel conducted a Uniform Commercial Code search and determined that the U.S. Small Business Administration appears to hold the senior lien position on the Debtor's assets, with at least four other creditors holding subordinate liens. Under the interim order, creditors with an interest in the cash collateral will be granted adequate protection through replacement liens, with the same priority, validity and extent as their pre-petition liens. The order is available at https://is.gd/eZ8yiO The court scheduled a final hearing for June 30 and set a June 26 deadline for filing objections. House Wine Austin's financial difficulties originated from a dispute with the landlord of its former location at 408 Josephine. Following the landlord's death, the Debtor was forced to relocate, closing the original location in May 2024 and reopening at its current site. During the transition period, the Debtor continued paying employees despite not generating operating revenue. Although the Debtor attempted to secure financing through the Small Business Administration, it was instead forced to rely on expensive merchant cash advance financing. The Debtor subsequently incurred multiple merchant cash advance obligations, leading to additional financial strain. One lender, Redwood Business Loans, served a UCC lien notice on the Debtor's credit card processor, resulting in a freeze of the business's credit card receipts until a settlement could be reached. Another lender, Kalamata Capital, initiated litigation against the Debtor in New York state court. About House Wine Austin LLC House Wine Austin, LLC is a long-established Austin wine bar and tasting venue. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Tex. Case No. 26-11083-smr) on June 5, 2026. In the petition signed by Kerry White, the Debtor disclosed up to $50,000 in assets and up to $10 million in liabilities. Judge Shad M. Robinson oversees the case. Stephen W Sather, Esq., at Barron & Newburger, P.C., represents the Debtor as legal counsel. HOUSE4U MNGMNT: Charles Persing Named Subchapter V Trustee ---------------------------------------------------------- The U.S. Trustee for Region 2 appointed Charles Persing, a certified public accountant at Bederson, LLP, as Subchapter V trustee for House4u Mngmnt Services Inc. Mr. Persing will be paid an hourly fee of $500 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Persing declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Charles N. Persing, CPA/CFF, CVA, CIRA, CFE Bederson LLP 100 Passaic Avenue, Suite 310 Fairfield, NJ 07004 Phone: (973) 530-9181 Fax: (862) 926-2481 Email: cpersing@bederson.com About House4u Mngmnt Services Inc. House4u Mngmnt Services Inc. sought protection under Chapter 11 of the Bankruptcy Code (Bankr. S.D.N.Y. Case No. 26-10977) on April 29, 2026. At the time of the filing, the Debtor had estimated assets of between $500,001 and $1 million and liabilities of between $500,001 and $1 million. Judge Lisa G. Beckerman oversees the case. Law Offices of Charles Wertman P.C. is Debtor's legal counsel. HUGHES SATELLITE: DISH DBS to Make Delayed Note Payments -------------------------------------------------------- DISH DBS Corporation notified trustees that it would make scheduled interest payments originally due June 1 on three series of notes, according to a Form 8-K filed by EchoStar Corporation and Hughes Satellite Systems Corp. The payments cover DISH DBS's 5.25% secured notes due 2026, 5.75% secured notes due 2028 and 5.125% unsecured notes due 2029. The filing said the payments, including interest on the delayed amounts, were to be made June 18 within applicable 30-day grace periods before nonpayment would become an event of default. EchoStar previously elected not to make the payments on the due date to defer liquidity use pending receipt of $20.25 billion in net closing proceeds from AT&T transactions. The filing said the AT&T transactions have received regulatory approvals from the Federal Communications Commission and Department of Justice, though the FCC approval remains subject to the order becoming final. DISH DBS determined it should cure the nonpayment defaults in good faith by making the interest payments, even though the AT&T transactions had not closed and could be delayed. About Hughes Satellite Systems Corp Hughes Satellite Systems Corporation is an Englewood, Colorado-based holding company and subsidiary of EchoStar Corporation. Formed as a Colorado corporation in March 2011, the company provides broadband satellite and internet services, managed network services, satellite communications solutions, and related equipment and hardware. It also designs, provides, and installs gateway and terminal equipment and develops telecommunications networks comprising satellite ground segment systems and terminals. The company serves consumer, enterprise, government, aeronautical, airline, mobile system operator, and other commercial customers in markets including the Americas. In an audit report dated March 30, 2026, KPMG LLP included going-concern language, citing significant debts maturing in 2026 and a lack of necessary cash on hand, projected cash flows or committed financing to fund obligations for at least 12 months from issuance of the consolidated financial statements. The auditor said those conditions raised substantial doubt about Hughes Satellite Systems' ability to continue as a going concern. As of March 31, 2026, Hughes Satellite Systems reported total assets of $1.90 billion, total liabilities of $2.76 billion and total stockholders' deficit of $856.51 million. I-ON DIGITAL: Board Adopts 2026 Equity Incentive Plan ----------------------------------------------------- I-ON Digital Corp.announced in a regulatory filing that the Board of Directors approved the I-ON Digital Corp. 2026 Equity Incentive Plan. The 2026 Plan is designed to help the Company secure and retain services of employees, directors, and consultants, provide incentives for maximum effort, and allow participants to benefit from increases in the value of the Company's stock. The 2026 Plan provides for eight categories of Awards: (i) Incentive Stock Options, (ii) Nonstatutory Stock Options, (iii) Stock Appreciation Rights, (iv) Restricted Stock Awards, (v) Restricted Stock Unit Awards, (vi) Performance Stock Awards, (vii) Performance Cash Awards, and (viii) Other Stock Awards. Pursuant to the 2026 Plan, 100,000 shares of the Company's Series E Convertible Preferred Stock are reserved for issuance pursuant to awards granted under the 2026 Plan. In addition, the Share Reserve will automatically increase on January 1st of each year, for a period of not more than ten years, commencing on January 1, 2027, in an amount equal to 4% of the total number of shares of Capital Stock outstanding on December 31st of the preceding calendar year. A complete text copy of the 2026 Plan is available at https://tinyurl.com/msr2mas6 Also, the Company granted stock options to purchase an aggregate 66,750 shares of Series E Shares under the 2026 Plan to certain officers, employees, and service providers of the Company. The options were granted at an exercise price of $145 per share, based upon the closing price of the Company's common stock on Friday June 5, 2026 of $0.29 multiplied by the conversion rate of 500 to 1. The following is a summary of the material terms of the option grants made under the 2026 Plan. Named Executive Officers and Key Personnel * Carlos X. Montoya -- Mr. Montoya received options to purchase 18,000 Series E Shares vesting in equal quarterly installments over two years commencing on the Vesting Date, subject to Mr. Montoya's Continuous Service as of each such date, with 100% of the shares subject to the option vesting upon a Change in Control. Mr. Montoya also received a performance-based option to purchase an additional 2,000 Series E Shares, which vest 100% upon completion of a Nasdaq uplisting and achievement of a $7.50 stock price maintained for a minimum of 10 days running, combined with successful completion of a merger and acquisition initiative involving a strategic banking or technology partnership. * Ken Park -- Mr. Park received options to 9,000 Series E Shares vesting in equal quarterly installments over two years commencing on the Vesting Date, subject to Mr. Park's Continuous Service as of each such date, with 100% of the shares subject to the option vesting upon a Change in Control. Mr. Park also received a performance-based option to purchase an additional 2,000 Series E Shares, which vests 100% upon development and Board approval of a Market Penetration Strategy to position the Company as a category leader in gold-backed digital assets (including reaching 100,000 site visitors per month), establishing institutional partnerships and tokenization revenue of a minimum of $5 million in direct revenues, developing a community ecosystem and investor growth goals, scaling an open finance platform with 10,000 accredited investor sign-ups, and revenue acceleration via business development of a minimum of five new banking partnerships. * Brad Hoffman -- Mr. Hoffman received options to purchase 5,000 Series E Shares vesting in equal quarterly installments over two years commencing on the Vesting Date, subject to Mr. Hoffman's Continuous Service as of each such date, with 100% of the shares subject to the option vesting upon a Change in Control. Mr. Hoffman also received a performance-based option to purchase an additional 2,000 Series E Shares, which vests 100% upon development and Board approval of an institutional-grade private lending platform for further deployment of funds generated by Company-backed bond activities. * John Jubilee -- Mr. Jubilee received options to purchase 2,000 Series E Shares vesting in equal quarterly installments over two years commencing on the Vesting Date, subject to Mr. Jubilee's Continuous Service as of each such date, with 100% of the shares subject to the option vesting upon a Change in Control. Mr. Jubilee also received a performance-based option to purchase an additional 2,000 Series E Shares, which vests 100% upon completion of a bank acquisition of not less than $500 million in size and equity fundraising of not less than $7.5 million. * Patrick White -- Mr. White received options to purchase 2,000 Series E Shares vesting in equal quarterly installments over two years commencing on the Vesting Date, subject to Mr. White's Continuous Service as of each such date, with 100% of the shares subject to the option vesting upon a Change in Control. Mr. White also received a performance-based option to purchase an additional 2,000 Series E Shares, which vests 100% upon completion of a Nasdaq uplisting and the hiring of certain additional executive officers. Additional Option Grants The Company made granted additional option grants made under the 2026 Plan for 20,750 Series E Shares to employees, consultants and third-party service providers. About I-On Digital Corp. Headquartered in Chicago, Ill., I-ON develops and provides advanced asset-digitization and securitization solutions designed to deliver a secure, fast, and transparent digital asset ecosystem. The Company converts documentary evidence of ownership into secure, asset-backed digital certificates, enhancing liquidity and value across a range of asset classes. Its hybrid blockchain architecture integrates smart contracts and workflow automation, augmented by artificial intelligence technologies. This system enables the digitization of ownership records for recoverable gold, precious metals, and mineral reserves, supporting value transfer through innovative financial instruments. As of March 31, 2026, the Company had $22.92 million in total assets, $4.52 million in total liabilities, and $18.4 million in total stockholders' equity. Midvale, Utah-based Mac Accounting Group & CPAs, LLP, the Company's auditor since 2024, issued a "going concern" qualification in its report dated April 15, 2026, attached to the Company's Annual Report on Form 10-K for the year ended December 31, 2025, citing that the Company has suffered recurring losses, has reported cash used in operations, and has a net capital deficiency that raise substantial doubt about its ability to continue as a going concern. INKS & BINDINGS: Mark Sharf Named Subchapter V Trustee ------------------------------------------------------ The U.S. Trustee for Region 17 appointed Mark Sharf, Esq., a practicing attorney in Los Angeles, as Subchapter V trustee for Inks & Bindings, LLC. Mr. Sharf will charge $740 per hour for his services as Subchapter V trustee and $150 per hour for his trustee administrator's services. In addition, the Subchapter V trustee will seek reimbursement for work-related expenses incurred. Mr. Sharf 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 Sharf, Esq. 6080 Center Drive, 6th Floor Los Angeles, CA 90045 Telephone: (323) 612-0202 Email: mark@sharflaw.com About Inks & Bindings LLC Inks & Bindings, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Calif. Case No. 26-11800) on June 9, 2026, with up to $50,000 in assets and $500,001 to $1 million in liabilities. Judge Mark D. Houle presides over the case. Leonard Pena, Esq., at Pena & Soma, Apc represents the Debtor as legal counsel. INNVENTURE INC: Stockholders Elect 3 Class II Directors ------------------------------------------------------- Innventure, Inc. stockholders elected three Class II directors to serve terms expiring at the 2029 annual meeting, according to a Form 8-K filing with the Securities and Exchange Commission. Bruce Brown, John Hewitt and Catriona Fallon were elected at the company's June 17 annual meeting. The company said holders representing 53,906,796 votes were present in person or by proxy, constituting a quorum. Stockholders also ratified the appointment of Withum Smith+Brown, P.C. as Innventure's independent registered public accounting firm for the fiscal year ending Dec. 31, 2026. The record date for the meeting was April 20. At the close of business that day, Innventure had 82,094,894 common shares, 35,792 Series B preferred shares and 159,270 Series C preferred shares outstanding and entitled to vote. About Innventure, Inc. Innventure, Inc. is an industrial growth conglomerate that founds, funds and operates companies focused on commercializing transformative, sustainable technology solutions acquired or licensed from multinational corporations and other technology innovators. The company seeks to generate value through long-term positions in its Innventure Companies. Innventure identified Technology as its reportable segment, with other operations including its original platform business, service activities, Refinity and equity-method investment activities. In an audit report dated March 30, 2026, WithumSmith+Brown, PC included going-concern language, citing operating losses since inception and, as of Dec. 31, 2025, both an accumulated deficit and working capital deficit. The auditor said those conditions raised substantial doubt about Innventure's ability to continue as a going concern. As of March 31, 2026, Innventure reported total assets of $591.48 million, total liabilities of $93.33 million and total stockholders' equity of $498.15 million. INTEGRATED ENDOSCOPY: Seeks to Extend Plan Exclusivity to Sept. 30 ------------------------------------------------------------------ Integrated Endoscopy, Inc., asked the U.S. Bankruptcy Court for the Central District of California to extend its exclusivity period to file a plan of reorganization to Sept. 30, 2026. The Debtor explains that factors demonstrate that "cause" for an extension of the exclusivity period exists. * Factor 1: The size and complexity of the case. Regarding the first factor, Debtor's bankruptcy case presents complex issues of corporate law that must be considered when resolving the RCT Claim as well as claims of Debtor's former officers and/or employees, including Brad Sharp and Andrew Sharp. Given the nature of the business, paired with the fact that Debtor just obtained FDA approval of its product and has not yet obtained a valuation of its intellectual property, this case is fairly complex. Thus, the first factor shows cause exists to extend exclusivity period. * Factor 2: The necessity of sufficient time to permit the debtor to negotiate a plan of reorganization and prepare adequate information. Regarding the second factor, Debtor's largest creditor is the RCT. While RCT timely filed a proof of claim, Debtor is still investigating the RCT Claim and actions of RCT, which may lead to claims Debtor may have against RCT and/or Brad Sharp. Further, since the Bar Date has passed and Debtor is working to request a new Bar Date to serve on creditors with unknown addresses, Debtor also needs time to review the other proofs of claim filed in this case and if needed, negotiate with other creditors, although they are less critical due to the size of RCT's claim. * Factor 3: The existence of good faith progress toward reorganization. Regarding the third factor, Debtor is making good faith progress toward reorganization. The Debtor has obtained the Bar Date, which has passed, and is evaluating the claims filed against it. Debtor is also taking steps to obtain a new Bar Date with authority to serve the new Bar Date on all unknown creditors via publication. In addition, Debtor has been working with the Examiner, RCT, and Mr. Sharp to obtain information and documents to assess the claims of the parties. * Factor 4: The fact that the debtor is paying its bills as they become due. The fourth factor also shows cause exists because Debtor is paying its bills as they become due. This is reflected in Debtor's Monthly Operating Reports. * Factor 5: Whether the debtor has demonstrated reasonable prospects for filing a viable plan. Regarding the fifth factor, the Debtor is a start-up company that seeks to continue its operations, preserve the jobs of its employees, and generate revenue for the benefit of all creditors based on its products that just recently obtained FDA approval. However, Debtor cannot make conclusions about the feasibility of any proposed plan until it has time to determine its business plan now that FDA approval has been obtained. The Debtor needs time to implement a business plan and begin making sales in the United States before it can prepare projections of income and expenses and prove the feasibility of any proposed plan of reorganization. * Factor 6: Whether the debtor has made progress in negotiations with its creditors. Regarding the sixth factor, Debtor is making progress toward negotiating with its creditors, but such progress cannot proceed without completing mediation and if necessary, additional discovery. While Debtor is hopeful that the parties can resolve their disputes at mediation, is unsuccessful, Debtor needs time to determine what examinations of other parties may need to be taken, especially in light of the Examiner's Report. Integrated Endoscopy Inc. is represented by: David R. Haberbush, Esq. Vanessa M. Haberbush, Esq. Lane K. Bogard, Esq. Haberbush LLP 444 West Ocean Boulevard, Suite 1400 Long Beach, CA 90802 Telephone: (562) 435-3456 Facsimile: (562) 435-6335 E-mail: dhaberbush@lbinsolvency.com About Integrated Endoscopy Integrated Endoscopy Inc. develops wireless arthroscopic and single-use rigid endoscope technology for surgical applications. Headquartered in Irvine, California, the privately held Company was founded in 1996 following its acquisition of Micro Optics Development Engineering Labs' optical design assets and markets its Nuvis Single-Use Arthroscope with plans to extend into additional procedure-specific endoscopes. Its intellectual property portfolio includes 19 issued patents across the U.S., Europe, Japan, Australia, and Canada covering lens systems, LED lighting, and molded glass optics. Integrated Endoscopy sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Cal. Case No. 25-12121 on July 31, 2025. In its petition, the Debtor reported between $10 million and $50 million in assets and liabilities. Bankruptcy Judge Scott C. Clarkson handles the case. The Debtor is represented by Vanessa H. Haberbush, at Haberbush, LLP. INTEGRIS EQUIPMENT: Gets Interim OK to Use Cash Collateral ---------------------------------------------------------- Integris Equipment, LLC received interim approval from the U.S. Bankruptcy Court for the Western District of New York to use cash collateral to fund operations. Under the interim order, the Debtor is authorized to use cash collateral in accordance with a court-approved budget through the final hearing on June 29. The Debtor requires access to cash collateral, which is subject to interests held by NBT Bank, National Association, the principal lender, and other secured creditors. The Debtor has several obligations to NBT Bank, including a $500,000 line of credit with an outstanding balance of approximately $505,096; a $300,000 line of credit with a balance of about $302,196; and a $265,000 loan with a remaining balance of roughly $52,143. Additionally, four merchant cash advance lenders assert secured interests in the Debtor's assets, which the Debtor disputes as to validity, perfection, and enforceability and intends to challenge in the bankruptcy proceedings. NBT Bank and other secured creditors will be granted adequate protection through roll-over or replacement liens on the Debtor's assets similar to their pre-petition collateral, and a monthly payment of $12,000 to the bank. As additional protection, the Debtor must comply with the so-called minimum collateral covenant requiring it to maintain, during the interim period, accounts receivable with an aggregate book value of at least $300,000 and inventory with an aggregate book value of at least $300,000. Events of default that could terminate the Debtor's authority to use cash collateral include noncompliance with the minimum collateral covenant; failure to file reports required by the order; unauthorized use of cash collateral; and material breach of the order. The order is available at https://is.gd/5ZrA6d from PacerMonitor.com. About Integris Equipment LLC Integris Equipment LLC provides new and refurbished medical equipment, including patient monitors, anesthesia machines, AEDs/defibrillators, EKG machines, and related medical accessories. The company offers medical equipment rentals for short- and long-term use and also buys or trades used equipment. Integris Equipment operates an in-house biomed and refurbishing department and performs quality assurance checks on equipment sold. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. N.Y. Case No. 26-10689) on May 29, 2026. In the petition signed by Jacob Steck, manager member and vice president, the Debtor disclosed $1,382,869 in total assets and $3,789,151 in total liabilities. Judge Carl L. Bucki oversees the case. Scott J. Bogucki, Esq., at Gleichenhaus, Marchese & Weishaar, P.C., represents the Debtor as legal counsel. ISUN INC: Clean Royalties Wins Bid to Enforce Sale Order -------------------------------------------------------- Judge Thomas M. Horan of the U.S. Bankruptcy Court for the District of Delaware granted Clean Royalties, LLC's motion to enforce the Sale Order against Halladay Solar, LLC, Stone Mill Solar, LLC, Trolley Tracks Solar, LLC, and Standard Solar, Inc. in iSun, Inc.'s bankruptcy case. iSun, Inc. and 11 affiliates, including iSun Industrial, LLC, commenced these cases on June 3, 2024. The cases were later converted to chapter 7. Before the petition date, iSun Industrial was party to three engineering, procurement, and construction contracts (the "EPC Contracts") for solar projects in Vermont with Trolley Tracks Solar, LLC, Stone Mill Solar, LLC, and Halladay Solar, LLC (each an "SS Entity"). The schedule of acquired assets conveyed all the debtors' accounts receivable and listed, by name, three construction contracts belonging to one particular debtor, iSun Industrial, whose receivables made up the great bulk of what was being sold. But the agreement's preamble defined the sellers as those entities "listed on the signature page," and the unsigned signature pages attached to the court-approved version omitted iSun Industrial. No one appears to have noticed at the time. iSun Industrial signed the final agreement, the sale closed, and the parties went about their business. The Court entered the Bidding Procedures Order on July 3, 2024, designating Clean Royalties, LLC as the stalking horse bidder. The Court entered the Sale Order on Friday, August 23, 2024, approving the Amended and Restated Asset Purchase Agreement (the "Stalking Horse Agreement" or "APA"), and the sale of the Acquired Assets to Clean Royalties free and clear of all Interests pursuant to sections 363(b) and (f). The Vermont Litigation and this Motion In May 2025, Clean Royalties, as assignee of iSun Industrial, LLC, sued the SS Entities in the Vermont Superior Court to collect the receivables. The SS Entities filed a cross-complaint against Clean Royalties stating that it is brought to recover money damages incurred as a result of Cross-Defendant's breach of contract, and asserting counts for breach of contract, unjust enrichment, quantum meruit, and declaratory relief. In the Vermont action, the SS Entities took the position that iSun Industrial was never a "Seller" under the Stalking Horse Agreement because it does not appear on the signature pages of the version attached to the Sale Order, and that Clean Royalties therefore never acquired the receivables it sues upon. The SS Entities dispute that this Court possesses subject matter jurisdiction. The SS Entities argue there is no ambiguous language in the Sale Order or Stalking Horse Agreement requiring interpretation, only a factual dispute about whether iSun Industrial's assets were sold. The Court says the premise is incorrect. The parties in this case do not agree on what the Sale Order and Stalking Horse Agreement actually authorize. The SS Entities contend that "Sellers" is unambiguously defined in the Stalking Horse Agreement as "iSun, Inc. and each of its affiliates or subsidiaries listed on the signature page of the Agreement," and that iSun Industrial is not listed on that signature page, therefore iSun Industrial is not a Seller and its assets were not sold. Clean Royalties contends the opposite. It posits that the Sale Order, read on its face and as a whole, expressly authorized each of the Debtors to execute the Stalking Horse Agreement and consummate the Sale, with no carve-out for iSun Industrial, and that the omission of iSun Industrial from the signature page of the unexecuted form of the agreement attached to the Sale Order was a scrivener's error. The Motion presents a genuine dispute about the meaning and scope of this Court's own Sale Order and the Stalking Horse Agreement that order approved. Accordingly, the Court retains subject matter jurisdiction over the Motion to Enforce, and the SS Entities' jurisdictional objection is overruled. Judge Horan holds "The Sale Order authorized each of the Debtors, including iSun Industrial, to sell the Acquired Assets to Clean Royalties, and the Acquired Assets included all the Debtors' unpaid accounts receivable and the Debtors' rights and interests in and under the Stone Mill, Trolley Tracks, and Halladay contracts, regardless of their prepetition termination. Those assets were transferred to Clean Royalties free and clear of all Interests. The SS Entities received adequate notice of the Sale, are bound by the Sale Order, and are enjoined from prosecuting their affirmative counterclaims against Clean Royalties in the Vermont action, without prejudice to their defenses, including recoupment. The Motion is granted." A copy of the Court's Memorandum Opinion dated June 16, 2026, is available at https://urlcurt.com/u?l=kNUJ7G from PacerMonitor.com. About iSun Inc. iSun, Inc. (doing business as iSun) is a provider of solar energy services and infrastructure. Its services include solar, storage and electric vehicle infrastructure, design, development and professional services, engineering, procurement, installation, O&M and storage. iSun and 11 of its affiliates sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Lead Case No. 24-11144) on June 3, 2024. In the petition signed by Jeff Peck as president and chief executive officer, iSun disclosed as much as $50,000 in assets and liabilities. Judge Thomas M. Horan oversees the cases. The Debtors tapped Gellert Seitz Busenkell & Brown, LLC as general reorganization counsel; and England & Company as investment banker and advisor. EPIQ Corporate Restructuring, LLC is the Debtors' claims and noticing agent. The U.S. Trustee for Region 3 appointed an official committee to represent unsecured creditors in the Debtors' Chapter 11 cases. Seward & Kissel, LLP, Benesch, Friedlander, Coplan & Aronoff, LLP and Dundon Advisers, LLC serve as the committee's bankruptcy counsel, Delaware counsel and financial advisor, respectively. The case was converted to Chapter 7 on Jan. 27, 2025. JADE PRESENTS: Mary Sieling Named Subchapter V Trustee ------------------------------------------------------ The Acting U.S. Trustee for Region 12 appointed Mary Sieling as Subchapter V trustee for Jade Presents, LLC. Ms. Sieling will be paid an hourly fee of $330 for her services as Subchapter V trustee and an hourly fee of $200 for paralegal time. In addition, the Subchapter V trustee will receive reimbursement for work-related expenses incurred. Ms. Sieling declared that she is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Mary F. Sieling 150 South Fifth Street, Suite 3125 Minneapolis, MN 55402 Email: mary@mantylaw.com About Jade Presents LLC Jade Presents, LLC is a Fargo, North Dakota- based concert promotion and live entertainment event production company. Founded by Jade Nielsen in 1990, the company plans and produces live events, including act booking, event marketing, ticketing process oversight, and on-site execution. Jade Presents manages about 150 events annually in the Fargo-Moorhead-West Fargo area, including concerts, festivals, and expos. Jade Presents filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code ((Bankr. D.N.D. Case No. 26-30438) on June 6, 2026, with $393,460 in assets and $2,897,889 in liabilities. Jade Nielsen, authorized agent, signed the petition. Judge Shon Hastings presides over the case. Maurice VerStandig, Esq., at The Dakota Bankruptcy Firm represents the Debtor as legal counsel. JAGUAR HEALTH: Extends Note, Royalty Payments to Oct. 1 ------------------------------------------------------- Jaguar Health, Inc. amended royalty-interest and note arrangements with Streeterville Capital LLC and Uptown Capital LLC, extending certain payment obligations to Oct. 1, according to a Form 8-K filing with the Securities and Exchange Commission. The company said the Streeterville 2022 royalty-interest amendment extended the start of monthly payments from July 1 to Oct. 1. Under both the Streeterville and Uptown royalty amendments, monthly payments beginning Oct. 1 will be the greater of $750,000 or the actual royalty payment amount due under the applicable royalty interest. Jaguar and its wholly owned subsidiary Napo Pharmaceuticals, Inc. also amended a secured promissory note originally issued to Streeterville, extending the note's maturity date from July 1 to Oct. 1. The filing also disclosed three privately negotiated exchange agreements with Streeterville. Jaguar issued a total of 110,249 common shares in exchange for 10.88 outstanding Series Q preferred shares held by Streeterville in transactions dated June 9, June 17 and June 18. About Jaguar Health, Inc. Jaguar Health, Inc. develops proprietary prescription drugs sustainably derived from plants for people with complicated gastrointestinal disease states. The company, together with Napo Pharmaceuticals, Inc. and Napo Therapeutics, S.p.A., focuses on expanding global access to crofelemer and developing therapies for orphan and rare gastrointestinal conditions. Jaguar was founded in San Francisco, California in 2013 and operates Napo as a wholly owned subsidiary focused on human health, including the development of crofelemer and commercialization of Mytesi. Its Magdalena Biosciences joint venture with Filament Health Corp. develops plant-derived prescription medicines for mental health indications. In an audit report dated April 7, 2026, RBSM LLP included going-concern language, citing Jaguar Health's accumulated deficit, recurring losses and expected continuing future losses. The auditor said those conditions raised substantial doubt about the company's ability to continue as a going concern. As of March 31, 2026, Jaguar Health reported total assets of $37.43 million, total liabilities of $53.19 million and total stockholders' deficit of $15.75 million. JMKA LLC: Court Extends Cash Collateral Access to July 10 --------------------------------------------------------- JMKA, LLC received another extension from the U.S. Bankruptcy Court for the Northern District of Illinois to use cash collateral to fund operations. The 19th interim order, signed by Judge David Cleary, extended the Debtor's authority to use its secured lenders' cash collateral through July 10 to pay the expenses set forth in its budget, subject to a 5% variance. The lenders include the U.S. Small Business Administration, BayFirst National Bank, Funding Circle, Transportation Alliance Bank, Cashfloit LLC, and Funders App, LLC. These lenders assert security interests in all assets of the Debtor, including cash, bank deposits and accounts receivable, which constitute their cash collateral. The Debtor is ordered to provide the secured lenders with protection in the form of replacement liens on its assets, with the same priority, validity and extent as their pre-bankruptcy liens. In addition, the Debtor is ordered to pay $439 to SBA. The next hearing is set for July 8. A copy of the Debtor's budget is available at https://shorturl.at/aslVT from PacerMonitor.com. About JMKA LLC JMKA, LLC is a boutique childcare center in downtown Elmhurst, Ill. It operates as Elmhurst Premier Childcare. JMKA filed Chapter 11 petition (Bankr. N.D. Ill. Case No. 25-00036) on January 3, 2025, with up to $50,000 in assets and up to $10 million in liabilities. Judge David D. Cleary oversees the case. Ben L. Schneider, Esq., at The Law Offices of Schneider & Stone is the Debtor's bankruptcy counsel. Ameris Bank, as secured lender, is represented by: Jillian S. Cole, Esq. Taft Stettinius & Hollister, LLP 111 E. Wacker Drive, Suite 2600 Chicago, IL 60601 (312) 836-4019 jcole@taftlaw.com Cashfloit LLC, as secured lender, is represented by: Fred S. Kantrow, Esq. The Kantrow Law Group, PLLC 732 Smithtown Bypass, Suite 101 Smithtown, NY 11787 (516)703-3672 fkantrow@thekantrowlawgroup.com JUMP HARLINGEN: Claims to be Paid from Cash Flow & Plan Sponsor --------------------------------------------------------------- Jump Harlingen Inc., and affiliates filed with the U.S. Bankruptcy Court for the Southern District of Texas a Combined Disclosure Statement and Plan of Reorganization dated June 9, 2026. The Debtors operate a group of indoor amusement facilities under franchise agreements with UATP Management, LLC (the "Franchisor"), which enables the Debtors to use the Franchisor's trade name, "Urban Air Adventure Park." Each Debtor, as Franchisees, leases the buildings constituting each indoor amusement park, and each Debtor has received financing under separate, but cross-collateralized, loan agreements, which are serviced by ApplePie Capital. Following an audit where the Franchisor determined that the Debtors and other non-debtor parties had underreported their gross sales, which forms the basis of royalty payments due under the applicable franchise agreements, UATP Management commenced an arbitration proceeding before the American Arbitration Association ("AAA"), case no. 01-24-007-7538. Following the entry of the arbitration award, UATP Management commenced a lawsuit to confirm the arbitration award and convert it into a final judgment in UATP Management, LLC vs. Aubrey Hall, et al., No. 048-371178-25, in the 48th District Court of Tarrant County, Texas (the "UATP Judgment"). A judgment was entered December 3, 2025. By the Petition Date, no post-judgment motions had been filed in the trial court, nor had any appeals been filed. At the Petition Date, each Debtor was jointly and severally liable for $8,395,232.39. Immediately prior to the Petition Date, UATP Management declared that it would be terminating the franchise agreements and exercising all available rights as a result of their termination of the franchise agreements. Therefore, bankruptcy protection became necessary in order to preserve the Debtors' ongoing business and their value for the benefit of their creditors who would be at risk if the franchise agreements were suddenly terminated. Class 3 consists of claims of UATP Management and its affiliates. At the Petition Date, the Debtors owed franchise fees of approximately $2,800.00 each. Additionally, each Debtor is jointly and severally liable for $8,395,232.39, representing the amount due under a final judgment in UATP Management, LLC vs. Aubrey Hall, et al., No. 048-371178-25, in the 48th District Court of Tarrant County, Texas (the "UATP Judgment"). In addition to the Debtors, the following non-debtor parties are jointly and severally liable for the satisfaction of the judgment: (a) Aubrey Hall; (b) Jump Gilbert, Inc.; (c) Jump Peoria, Inc.; (d) Jump Katy, LLC; (e) Pearland Urban Air, LLC; (f ) Jump UAAP TX, LLC; (g) Jump Lake Jackson, Inc.; (h) Majk Entertainment, LLC; (i) Eezy Experience, LLC; and (j) Jump Bedford, LLC. Claims in Class 3 will be paid after claims in Classes 1 and 2 are paid. Sections 3.4.2 and 3.4.3 contain additional provisions regarding the treatment of claims in Class 3, and the said Sections 3.4.2 and 3.4.3 are incorporated by reference into this Section. Confirmation of this Plan shall have no impact on the liability of non-debtor parties to the UATP Judgment. Class 3 is impaired. Class 4 consists of General Unsecured Claims. All allowed general unsecured claims will be paid in deferred cash payments from cash on hand after all Allowed Claims in Classes 1 through 3 are paid in full. All payments made to holders of Allowed Claims in Class 4 will be pro rata amounts until all Allowed Claims in Class 4 are paid in full. To the extent a claim is anticipated or is awaiting approval pursuant to Fed. R. Bankr. P. 9019, an allowance for such claim will be made and distributions on such claim will be made to the extent such claim is ultimately allowed by a final court order. Creditors in this class will receive a di minimis amount of their Allowed Claims. Class 4 is impaired. Class 6 consists of Interests of Shareholders or Members. Whether classified as common stock of a corporation or a membership in a limited liability company, the sole equity holder of the Debtors is Aubrey Hall. There shall be no distributions to any interest holder. Upon the Effective Date, all interests will be deemed cancelled and will cease to exist. Class 6 is impaired. Source of Payments Primary Funding Sources. The Debtors will fund Plan implementation through a combination of: (i) cash on hand, (ii) operating cash flow, and (iii) new consideration provided by the Plan Support Sponsor in the amount of $200,000 for each Debtor (the "Sponsor New Consideration"). The Debtors will also use these funds to support de-identification and rebranding of each of the Franchise Units. Target Park Transaction Funding. The Plan Support Sponsor has proposed Target Park Offers for Colorado Springs, Harlingen, and Huntsville. The Plan Support Sponsor expects Colorado Springs to proceed as a cash transaction with lender agreement. For Huntsville and Harlingen, the Plan Support Sponsor has an agreement in principle to assume the existing loans, subject to final lender documentation and Court approval. Jump Peoria (Non-Debtor). The Plan Support Sponsor has proposed an $800,000 offer for the Peoria park. The Debtors will not consummate any Peoria transaction through this Plan unless Peoria becomes a Debtor in these jointly administered cases, or the Peoria court approves the transaction in the Peoria case. Post-Confirmation New Equity. After confirmation and on or before the Effective Date, new equity holders will contribute new value to the Reorganized Debtors. The Reorganized Debtors will use that new value for post-confirmation operations and the transition and rebranding process, as specified in a Plan Supplement. A full-text copy of the Combined Disclosure Statement and Plan dated June 9, 2026 is available at https://urlcurt.com/u?l=5iG0DP from PacerMonitor.com at no charge. Counsel to the Debtors: Leonard H. Simon, Esq. William P. Haddock, Esq. PENDERGRAFT & SIMON, LLP 2777 Allen Parkway, Suite 800 Houston, TX 77019 Telephone: (713) 528-8555 Facsimile: (713) 868-1267 E-mail: lsimon@pendergraftsimon.com About Jump Harlingen Inc Jump Harlingen Inc, Jump Colorado SpringsInc., and Jump Huntsville LLC are Texas-based companies operating as franchisees under separate agreements with a common franchisor, UATP Management, LLC, and managing indoor adventure and trampoline park locations. The three companies function within the leisure and recreation industry, focusing on family entertainment and indoor activity centers. The Debtors sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Lead Case No. 26-90334) on February 16, 2026. In the petition signed by Aubrey Hall, president, the Debtor disclosed up to $10 million in both assets and liabilities. Judge Alfredo R. Perez oversees the case. Leonard H. Simon, Esq., at Pendergraft & Simon, LLP, represents the Debtors as general bankruptcy counsel. KRAKEN OIL: Fitch Affirms 'BB-' LongTerm IDR, Outlook Stable ------------------------------------------------------------ Fitch Ratings has affirmed Kraken Oil & Gas Partners LLC's Long-Term Issuer Default Rating (IDR) at 'BB-'. Fitch has also affirmed Kraken's senior secured reserve-based lending credit facility (RBL) at 'BB+' with a Recovery Rating of 'RR1' and affirmed the company's senior unsecured notes at 'BB-'/'RR4'. The Rating Outlook is Stable. Kraken's ratings reflect its high-quality, high-oil-mix Williston basin assets, which drive peer-leading margins and strong forecast pre-distribution FCF. They also reflect management's three-year hedging program, which meaningfully reduces cash flow risks, and adequate liquidity profile. These factors are partially offset by the company's smaller production size compared with 'BB' category peers and Fitch's expectation of future M&A activity to maintain adequate long-term inventory and reserve life. Key Rating Drivers High-Quality Assets; Accretive Acquisition: Kraken's acquisition of membership interest in Zavanna Energy Operating, LLC supports the rating as the assets are complementary and high-quality. Pro forma, Kraken's asset base will consist of 404,000 net acres in the Williston Basin in both Montana and North Dakota. The asset base has high liquids and oil exposure (67% oil estimated in 2Q26) and is over 90% operated and projected to produce 79 barrels of oil equivalent per day (Mboed) in 2Q26. The deal also adds 107 drilling locations, bringing the pro forma total to 547 gross operated locations, of which around 350 have breakevens of $50 WTI or less. Two-Rig Drilling Program: Kraken's current two-rig drilling program and approximately 30% decline rate support production of about 78-82 Mboed in 2H26 and low single-digit growth thereafter. Management expects a modest improvement to oil price differentials and slight increase in lease-operating expenses in 2026 due to the Iran conflict. Fitch expects the company to experience a neutral to marginally positive short-term impact from elevated oil prices stemming from the conflict in the Middle East, which should support FCF. Strong FCF, Peer-Leading Margins: Fitch forecasts pre-distribution FCF generation of around $450 million in 2026 at the agency's $80/bbl WTI price assumption at management's $475 million-$550 million capex guidance. The company also generated positive pre-distribution FCF in each of the last four years. Kraken's high oil mix, low-cost profile and sub-50% reinvestment rate result in peer-leading EBITDA margins, FCF margins and per-barrel profitability, which Fitch expects will continue. The company's FCF profile is further supported by management's multi-year hedging program covering a substantial amount of PDP, ensuring cash flow and returns. Three-Year Rolling Hedging Program: Fitch views Kraken's three-year hedging program positively as it helps lock in future returns and meaningfully reduces cash flow volatility and downside pricing risks. The company is hedging approximately 75% of its total oil volumes in 2H26, around 60% in 2027 and around 30% in 2028. This is higher than similarly rated peers and supports cash flow stability. Management's consistent, long-dated hedging strategy and willingness to hedge beyond 50% of PDP required under the company's RBL agreement supports the credit profile and through-the-cycle leverage metrics. Low Leverage, Flexible Distribution Policy: Fitch-calculated EBITDA leverage is forecast to remain at 1.2x at Fitch's $57/bbl WTI mid-cycle price assumption following Zavanna acquisition. Management paused its equity distributions in 1Q26 to support the acquisition funding, which Fitch views favorably. Management expects to resume distributions in June 2026, and Fitch expects FCF will be balanced between distributions and reduction of revolver borrowings going forward. Peer Analysis Kraken is a medium-sized, high-quality Williston basin operator with production of 79 Mboed (67% oil) expected in 2Q26. On a production basis, the company is smaller than diversified peer Vermilion Energy Inc. (BB-/Negative; 126 Mboepd), California Resources Corporation (BB-/Stable; 154 Mboepd) and Matador Resources Company (BB/Stable; 208 Mboepd). Despite the smaller production size, Kraken generates similar mid-cycle EBITDA to Vermilion and California Resources given its high oil mix and low-cost profile. The company benefits from a high oil mix of about 67%, which is lower than California Resources and higher than Vermilion and Matador. This, combined with the company's lean cost structure, results in one of the strongest unhedged cash netbacks within Fitch's aggregate E&P peer group and supports FCF generation. Fitch projects mid-cycle leverage of around 1.2x which is similar to peers. Fitch’s Key Rating-Case Assumptions - West Texas Intermediate oil prices of $80/bbl in 2026, $60/bbl in 2027 and $57/bbl in 2028 and thereafter; - Henry Hub natural gas prices of $3.50/mcf in 2026, $3.25/mcf in 2027, $3.00/mcf in 2028 and $2.75/mcf thereafter; - Two rig drilling program resulting in production of 80 Mboed through 2H26 and low single-digit growth thereafter; - Capex of about $525 million in 2026 with growth-linked spending thereafter; - Measured distributions to sponsor throughout the forecast; - No material M&A activity following the Zavanna acquisition. Corporate Rating Tool Inputs and Scores Fitch scored the issuer as follows, using its Corporate Rating Tool (CRT) to produce the Standalone Credit Profile (SCP): Business and financial profile factors (assessment, relative importance): management ('bbb', Lower), sector characteristics ('bb-', Moderate), market and competitive positioning ('bb-', Higher), diversification and asset quality ('bb', Moderate), company operational characteristics ('bb-', Moderate), profitability ('bb-', Higher), financial structure ('aa', Lower), and financial flexibility ('bbb+', Lower). The quantitative financial subfactors are based on custom CRT financial period parameters: 10% weight for the historical year 2025, 10% for the forecast year 2026, 10% for the forecast year 2027, 15% for the forecast year 2028 and 55% for the forecast year 2029. The governance assessment of 'good' has no impact. The operating environment assessment of 'a+' has no impact. The SCP is 'bb-'. To derive the Long-Term IDR: Fitch made no adjustments to the SCP, resulting in an IDR of 'BB-'. RATING SENSITIVITIES Factors that Could, Individually or Collectively, Lead to Negative Rating Action/Downgrade - Deviation from stated financial policies including overly debt-funded M&A activity or shareholder distributions; - Material reduction in liquidity including sustained high revolver utilization; - Mid-cycle EBITDA leverage sustained above 2.5x. Factors that Could, Individually or Collectively, Lead to Positive Rating Action/Upgrade - Average daily production sustained above 125 Mboed and/or mid-cycle EBITDA above $1.25 billion while maintaining similar oil mix; - Maintenance of economic drilling inventory and reserve life; - Mid-cycle EBITDA leverage sustained below 2.0x. Liquidity and Debt Structure At 1Q26, Kraken had $46 million cash on hand. At May 29th, 2026, following the company's Zavanna acquisition and 7.125% senior notes issuance, the company had $168 million outstanding under its $1.4 billion RBL facility ($1.5 billion borrowing base) due in 2028. Fitch expects equity distributions to resume in June, following a pause in 1Q26 to support the acquisition, and post-distribution FCF to be allocated between debt reduction, potential bolt-on M&A and reinvestment back into the business. The liquidity profile is further supported by the company's historical and strong forecast FCF, the strong three-year hedge program and flexible distribution policy. Issuer Profile Kraken Oil & Gas Partners LLC is a private equity owned, oil-focused E&P company within the Williston Basin in North Dakota and Montana. Summary of Financial Adjustments No material financial adjustments were made. MACROECONOMIC ASSUMPTIONS AND SECTOR FORECASTS Fitch's latest quarterly Global Corporates Sector Forecasts Monitor data file which aggregates key data points used in its credit analysis. Fitch's macroeconomic forecasts, commodity price assumptions, default rate forecasts, sector key performance indicators and sector-level forecasts are among the data items included. Climate Vulnerability Signals The Climate.VS for 2035 is 52 out of 100, which is in line with North American upstream oil-focused producers and Kraken's rated peers. Key transition risks arise from a potential reduction in demand driven by policies designed to reduce the use of oil and gas in the global economy and, in the shorter term, from policies designed to limit greenhouse gas emissions from oil and gas production. These risks do not have a material influence on the rating, given the very long-term time frame over which the transition may take place and uncertainty regarding the extent and nature of changes and the market's and companies' reaction to them. Kraken does not have long-term scope 1 and scope 2 emissions reduction targets, which is consistent with most private E&P companies. For further information on how Fitch perceives climate-related risks in the oil and gas sector, see Oil & Gas and Chemicals - Climate Vulnerability Signals Update ESG Considerations Kraken Oil & Gas Partners LLC has an ESG Relevance Score of '4' for Energy Management that reflects the company's cost competitiveness and financial and operational flexibility due to scale, business mix, and diversification. These factors have a negative impact on the credit profile and are relevant to the rating in conjunction with other factors The highest level of ESG credit relevance is a score of '3', unless otherwise disclosed in this section. A score of '3' means ESG issues are credit-neutral or have only a minimal credit impact on the entity, either due to their nature or the way in which they are being managed by the entity. Fitch's ESG Relevance Scores are not inputs in the rating process; they are an observation on the relevance and materiality of ESG factors in the rating decision. Entity/Debt Rating Recovery Prior ----------- ------ -------- ----- Kraken Oil & Gas Partners LLC LT IDR BB- Affirmed BB- senior unsecured LT BB- Affirmed RR4 BB- senior secured LT BB+ Affirmed RR1 BB+ KV TOOLING: Case Summary & 12 Unsecured Creditors ------------------------------------------------- Debtor: KV Tooling Systems LLC 2459 North Belfast Avenue Augusta, ME 04330 Business Description: KV Tooling Systems LLC is an Augusta, Maine- based manufacturer and reconditioner of rotary cutting tools for the machining and industrial manufacturing trades. Founded in 2003 by Brian Beland, the company produces carbide cutting tools, including its X Flute MAX cutting tool line launched in 2024. Its tools are used in aerospace, power generation, oil exploration, medical, and automotive applications. Chapter 11 Petition Date: June 18, 2026 Court: United States Bankruptcy Court District of Maine Case No.: 26-10111 Judge: Hon. Peter G Cary Debtor's Counsel: Tanya Sambatakos, Esq. MOLLEUR LAW OFFICE 190 Main St., 3rd Fl Saco, ME 04072 E-mail: tanya@molleurlaw.com Total Assets: $716,778 Total Liabilities: $2,037,804 The petition was signed by Brian J. Beland as sole member. A full-text copy of the petition, which includes a list of the Debtor's 12 unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/RVCOTII/KV_Tooling_Systems_LLC__mebke-26-10111__0001.0.pdf?mcid=tGE4TAMA LAFAYETTE PHYSICAL: Gets Final OK to Use Cash Collateral -------------------------------------------------------- The U.S. Bankruptcy Court for the Northern District of California, Oakland Division, entered a final order authorizing Lafayette Physical Therapy, Inc. to use cash collateral. Under the final order, the Debtor is authorized to use cash collateral in accordance with the budget, with a permitted variance of up to 10% per month. Although the budget is broken down by expense category and week, the Debtor may use cash collateral up to the total monthly budgeted amount regardless of category or week. The secured creditors that assert an interest in the cash collateral are BMO Bank, N.A., De Lange Landen Financial Services, Inc., U.S. Bank Equipment Finance, a division of U.S. Bank, N.A., Bankers Healthcare Group, LLC, and National Funding, Inc. As adequate protection for any diminution in the value of their collateral, secured creditors were granted replacement liens on all property acquired by the Debtor after its Chapter 11 filing. The replacement liens maintain the same priority, validity, and extent as the secured creditors' pre-petition liens but are subordinate to claims for compensation and reimbursement of expenses of any trustee appointed in the Debtor's Chapter 11 case and professionals employed by the estate. The replacement liens are deemed automatically perfected upon entry of the order, although the secured creditors may file financing statements or other documents to confirm perfection. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/YcMoN from PacerMonitor.com. About Lafayette Physical Therapy Inc. Lafayette Physical Therapy, Inc., which operates Lafayette Physical Therapy & Diagnostics in Lafayette, Calif., and Bay Area Physical Therapy & Diagnostics in Pleasant Hill, Calif., provides physical therapy, therapeutic massage, wellness services, and diagnostic testing, including musculoskeletal ultrasound, nerve conduction studies, and electromyography. The company has operated in the Lamorinda area for more than 50 years. Bay Area Physical Therapy joined Lafayette Physical Therapy in January 2016. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Calif. Case No. 26-40819) on April 20, 2026, with $100,000 to $500,000 in assets and $1 million to $10 million in liabilities. Lauren Danielle Masi, chief executive officer, signed the petition. Judge Hannah L. Blumenstiel presides over the case. Matthew D. Metzger, Esq., at Belvedere Legal, P.C. represents the Debtor as legal counsel. Christopher Hayes serves as Subchapter V trustee for the Debtor. LEISURE INVESTMENTS: Ex-CEO Seeks Dismissal of U.S. Bankruptcy Case ------------------------------------------------------------------- James Nani of Bloomberg Law reports that the former CEO of The Dolphin Company has moved to dismiss its U.S. bankruptcy case after a Mexican court reinstated him to a leadership role at the company’s parent entity. The case highlights an escalating cross-border dispute over corporate governance and control. In a filing with the U.S. Bankruptcy Court in Delaware, Eduardo de Martin Albor Villanueva argued that Mexican judicial authorities overturned the resolutions that led to his removal and the initiation of Chapter 11 proceedings. He said he has been reinstated as president of the board of Controladora Dolphin S.A. de C.V. The bankruptcy was filed by U.S. affiliate Leisure Investments Holdings LLC, but Albor contends the filing lacks proper authorization. The court will now weigh whether the Chapter 11 case should remain in place amid the competing international rulings, the report states. About Leisure Investments Holdings Leisure Investments Holdings LLC and affiliates are operating under the name "The Dolphin Company," manage over 30 attractions, including dolphin habitats, marinas, water parks, and adventure parks, located in eight countries across three continents. Their primary operations are based in Mexico, the United States, and the Caribbean, with locations in Jamaica, the Cayman Islands, the Dominican Republic, and St. Kitts. These attractions are home to approximately 2,400 animals from more than 80 species of marine life, including a variety of marine mammals such as dolphins, sea lions, manatees, and seals, as well as birds and reptiles. As of 2023, the marine mammal population at the Debtors' parks includes roughly 295 dolphins, 51 sea lions, 18 manatees, and 18 seals. Leisure Investments Holdings LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Lead Case 25-10606) on March 31, 2025. In its petition, the Debtor reports estimated assets and liabilities between $100 million and $500 million each. Honorable Bankruptcy Judge Laurie Selber Silverstein handles the case. The Debtors tapped Robert S. Brady, Esq., Sean T. Greecher, Esq., Allison S. Mielke, Esq., and Jared W. Kochenash, Esq. as counsels. The Debtors' restructuring advisor is RIVERON MANAGEMENT SERVICES, LLC. The Debtors' Claims & Noticing Agent is KURTZMAN CARSON CONSULTANTS, LLC d/b/a VERITA GLOBAL. LEXORA INC: Seeks DIP Loan, Cash Collateral Access -------------------------------------------------- Lexora Inc asks the U.S. Bankruptcy Court for the Southern District of New York for authority to use cash collateral and enter into a new post-petition factoring and security agreement with Amerifactors Financial Group, LLC. This facility is intended to replace its existing post-petition factoring arrangement with SouthStar Financial, LLC, which has agreed to the transition but had proposed a reduced advance rate that Lexora deemed insufficient to maintain operational liquidity. Under the new AmeriFactors agreement, the factor will purchase acceptable accounts receivable, immediately advancing 80% of the invoice value, with additional conditional consideration ranging from 18.50% to 10.25% depending on how quickly the accounts are collected within a 135-day window. To secure the financing, AmeriFactors will be granted a first-priority, superpriority administrative expense claim and senior security liens on all of Lexora’s accounts receivable and their proceeds. For all other corporate collateral, AmeriFactors' security interests will remain junior and subordinate to the pre-existing liens of Dime Community Bank, in accordance with an established Intercreditor Agreement. The Debtor also seeks authorization to continue using the cash collateral of its secured creditors—AmeriFactors, SouthStar, Dime, and Libertas Funding LLC—to cover ordinary course business affairs, inventory purchases, and administrative expenses over a rolling 13-week budget. Lexora notes that its inventory sales must be sustained to prevent its estate and assets from becoming entirely worthless to its creditors. Prior to its petition date, Lexora had approximately $364,541 outstanding under a pre-petition factoring agreement with SouthStar, which will continue collecting on previously sold accounts until the transition to AmeriFactors is complete. Additionally, Dime Bank holds a $2.5 million SBA-backed loan secured by all personal property, fixtures, and collateral mortgages on properties in New York and New Jersey, which is guaranteed by company owners Andrey Bogan and Carlin Glyptis. To resolve an objection from Dime, Lexora has agreed to make a one-time adequate protection payment of $34,560 to clear post-petition arrears, followed by monthly adequate protection payments of $17,280. Lastly, while Libertas Funding claims a security interest via a $588,000 future receivables sale agreement, Lexora explicitly disputes the validity and priority of this interest, asserting that the arrangement is actually a disguised, usurious loan agreement. A copy of the motion is available at https://urlcurt.com/u?l=IxrKFZ from PacerMonitor.com. About Lexora Inc. Lexora Inc., founded in 2009 and headquartered in New York, sells bathroom and kitchen products through online and showroom channels. It offers vanities, bathtubs, faucets, mirrors, lighting, and related accessories, and it also works with factories in Asia to develop and source its product lines. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Case No. 26-10751) on April 6, 2026, with $50,000 to $100,000 in assets and $1 million to $10 million in liabilities. Andrey Bogan, in his capacity as president, signed the petition. Robert L. Rattet, Esq., at avidoff Hutcher & Citron, LLP represents the Debtor as legal counsel. LIFE CONNECTIONS: Gets OK to Use Cash Collateral ------------------------------------------------ Life Connections Counseling Services, PLLC received approval from the U.S. Bankruptcy Court for the Eastern District of Tennessee to use cash collateral. Under the order, the Debtor is authorized to use its monthly revenues through July 17 to fund operating expenses in accordance with the budget. As a condition of the authorization, the Debtor must remain current on all payroll and employment tax obligations. Employment taxes must be deposited on the same day payroll is made, with proof of the deposit provided to the U.S. Trustee within three business days. The Debtor is also required to timely file all post-petition tax returns, fully fund payroll tax obligations, and submit monthly operating reports in compliance with bankruptcy rules and local procedures. The order preserves the enforcement rights of the U.S. Trustee, providing that any delay or partial exercise of those rights does not constitute a waiver. If the Debtor fails to comply with the order's requirements, the U.S. Trustee or U.S. Attorney may seek a hearing to determine whether the Chapter 11 case should be dismissed or converted to Chapter 7. The court also noted that counsel for U.S. Bank had not yet formally appeared in the case but had indicated agreement to the adequate protection payments outlined in the interim budget. A further hearing is scheduled for July 16. About Life Connections Counseling Services, PLLC Life Connections Counseling Services, PLLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Tenn. Case No. 26-30239) on Feb. 16, 2026, with $100,001 to $500,000 in assets and $500,001 to $1 million in liabilities. Judge Hon. Suzanne H Bauknight oversees the case. The Debtor is represented by: Thomas Lynn Tarpy, Esq. Tarpy, Cox, Fleishman & Leveille, PLLC Tel: 865-588-1096 Email: ltarpy@tcflattorneys.com LIFE STRIDE: Gets Final OK to Use Cash Collateral ------------------------------------------------- Life Stride, Inc. received final approval from the U.S. Bankruptcy Court for the District of Columbia to use cash collateral. Under the final order, the Debtor is authorized to continue using cash collateral until the earliest of confirmation of a Subchapter V plan, conversion or dismissal of the bankruptcy case, or further order of the court. The Debtor must use cash collateral in accordance with the budget. The Debtor, a mental health care provider, generates revenue from patient services and accounts receivable, which may constitute cash collateral of the U.S. Small Business Administration. As adequate protection, the SBA, to the extent it holds a valid and perfected security interest in the Debtor's cash collateral, will receive a replacement lien on post-petition assets of the same type, nature, and priority as its alleged pre-petition collateral. The replacement lien is limited to the extent of any diminution in the value of the SBA's interest. The order is available at https://is.gd/hww8oH from PacerMonitor.com. About Life Stride Inc. Life Stride, Inc., based in Washington, D.C., operates group homes and provides mental health care services, including psychiatric treatment, counseling, group therapy, case management, housing support, day programs, substance abuse services, and supported employment. A DC Department of Behavioral Health-certified community service provider, the company serves consumers seeking recovery-focused care and related residential support. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.C. Case No. 26-00183) on April 15, 2026. In the petition signed by Leonard Lucas, agent, the Debtor disclosed up to $50,000 in assets and up to $10 million in liabilities. Judge Elizabeth L. Gunn oversees the case. Christianna Cathcart, Esq., at The Belmont Firm, represents the Debtor as legal counsel. LIGHT BULB: Case Summary & Four Unsecured Creditors --------------------------------------------------- Debtor: Light Bulb Realty & Investment, LLC 1910 S 44th St. Omaha, NE 68105 Business Description: Light Bulb Realty owns various real estate holdings in Omaha. Chapter 11 Petition Date: June 15, 2026 Court: United States Bankruptcy Court District of Nebraska Case No.: 26-80702 Judge: Hon. Thomas L Saladino Debtor's Counsel: Patrick R. Turner, Esq. TURNER LEGAL GROUP, LLC 9375 Burt Street #200 Omaha, NE 68114 Tel: 402-690-3675 Email: pturner@turnerlegalomaha.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Andrew J. Panebianco as managing member. A copy of the Debtor's list of its four unsecured creditors is available for free on PacerMonitor at: https://www.pacermonitor.com/view/NWEKVSA/Light_Bulb_Realty__Investment__nebke-26-80702__0007.0.pdf?mcid=tGE4TAMA A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/LAT3YMY/Light_Bulb_Realty__Investment__nebke-26-80702__0001.0.pdf?mcid=tGE4TAMA LITTLE CREEK: Loses Bid to Stay Dismissal of Bankruptcy Case ------------------------------------------------------------ Judge Eli Richardson of the U.S. District Court for Middle District of Tennessee denied the motion of Little Creek CRE, LLC to stay the Bankruptcy Court's Order dismissing the underlying Chapter 11 case pending appeal. The appeal is styled LITTLE CREEK CRE, LLC, Appellant, v. STONEBRIAR COMMERCIAL FINANCE, LLC, et al, Appellees, Case No. 3:26-cv-00784 (M.D. Tenn.). Appellant's basis for bringing the Motion seems to be that absent a stay of the Order dismissing the Bankruptcy Case, Appellant will be deprived of its "singular asset," which is a particular "tract of land" ("the Property"), given that the Property is subject to a foreclosure sale scheduled for June 18, 2026. The Court will deny the Motion because Appellant has not made a sufficient showing so as to be entitled to the relief sought via the Motion. According to the Court, Appellant has failed to cite any case law to support its assertion that is has a likelihood of success on the merits of the Appeal. Given that Appellant has not shown that monetary damages would be unable to remedy any injury suffered from the loss of the Property, the Court finds that Appellant has failed to show that it will suffer irreparable harm absent a stay. A copy of the Court's Order dated June 15, 2026, is available at https://urlcurt.com/u?l=qWUcQV from PacerMonitor.com. About Little Creek CRE, LLC Little Creek CRE, LLC sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Tenn. Case No. 3:26-bk-02072) on April 30, 2026. At the time of the filing, Debtor had estimated assets of between $10,000,001 and $50 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. LITTLE MOUNTAIN: Secured Party Sets June 22, 2026 Public Auction ---------------------------------------------------------------- On June 22, 2026 at the hour of 11:00 a.m. Eastern Time, Neit Kapital Corporation ("Secured Creditor") as secured creditor of Little Mountain Precision, LLC, Maple Leasing, LLC, 3rd Precision, LLC and Nineteen Eleven Capital, LLC (the "Obligors") will hold a publicly advertised foreclosure sale via a virtual platform under Section 9-610 of the Uniform Commercial Code of all of the personal property collateral pledged to Secured Creditor, including, without limitation, Accounts, Chattel Paper, Commercial Tort Claims and Judgements Commercial Contract Claims and Judgements, Deposit Accounts, Documents, Electronic Chattel Paper, Equipment, Fixtures, General Intangibles, Goods, Instruments, Inventory, Investment Property, Letter-of-Credit Rights, Payment Intangibles, Pledged Deposits, Receivables, Securities, Software, Stock Rights, Supplies, Supporting Obligations, Tooling, CRTS/CNC computers and monitors, redundant tooling, disposable tooling, jigs, vices, chucks, blades, spindles, sockets, bits, probes, tool holders, carts, tool drawers, tool boxes and carts, bins/storage bins, safety equipment, bills of materials, builds of materials, work instructions, drawings, specifications, computer programs, and other personal property and proceeds or products of any of the foregoing, other than any collateral specifically excluded by Secured Creditor in its discretion. The Obligors were generally in the business of manufacturing parts for guns and other products and/or owning or leasing equipment. The sale will be held on a "where is, as is" basis, without any representations and warranties, express or implied. There is no warranty relating to title, possession, quiet enjoyment, access or the like in this disposition. Secured Creditor intends to offer the assets both as separate lots based on potential bidder interest in specific lots and then as a single lot. Secured Creditor reserves the right to designate further sublots. Secured Creditor reserves the right to establish other reasonable bidding procedures and to have potential bidders demonstrate their ability to perform and close to the reasonable satisfaction of Secured Creditor. Secured Creditor reserves the right to credit bid or to Increase any credit bid price at the public sale. Secured Creditor also reserves the right to adjourn, continue or cancel the publicly advertised sale without further notice. Qualified bidders may be permitted to submit written bids in advance or participate in the publicly advertised sale via a virtual conference call. Any parties interested in further information about these assets should contact the counsel for the Secured Creditor as set forth below. Robert E. Richards, Esq. DENTONS US LLP 233 South Wacker Drive, Suite 5900 Chicago, IL 60606 Tel: (312) 876-7396 E-mail: robert.richards@dentons.com Robert T. Glickman, Esq. Hugh D. Berkson, Esq. MCCARTHY, LEBIT, CRYSTAL & CO., LPA, 1111 Superior Avenue East, Suite 2700 Cleveland, OH 44114, Tel: (216) 696-1422 E-mail: rtg@mccarthylebit.com, hdb@mccarthylebit.com LORENZO'S DOG: Frederic Schwieg Named Subchapter V Trustee ---------------------------------------------------------- The U.S. Trustee for Regions 3 and 9 appointed Frederic Schwieg, Esq., at Schwieg Law, as Subchapter V trustee for Lorenzo's Dog Training Team, LLC. Mr. Schwieg will be paid an hourly fee of $370 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Schwieg declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Frederic P. Schwieg, Esq. Schwieg Law 2705 Gibson Drive Rocky River, OH 44116-1815 Phone: (440) 499-4506 Email: fschwieg@schwieglaw.com About Lorenzo's Dog Training Team LLC Lorenzo's Dog Training Team, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ohio Case No. 26-12667) on June 9, 2026, with up to $50,000 in assets and $1 million to $10 million in liabilities. Judge Suzana Krstevski Koch presides over the case. Michael A. Steel, Esq., at Steel & Company Law Firm represents the Debtor as bankruptcy counsel. M&B TOOLS: Seeks Chapter 7 Bankruptcy in Tennessee -------------------------------------------------- On June 4, 2026, M&B Tools LLC filed for Chapter 7 protection in the U.S. Bankruptcy Court for the Eastern District of Tennessee. According to court filings, the debtor reports between $100,001 and $1,000,000 in debt owed to 1–49 creditors. About M&B Tools LLC M&B Tools LLC is a tools and equipment company engaged in the sale, distribution, and servicing of industrial, construction, and maintenance tools. The company sought relief under Chapter 7 of the U.S. Bankruptcy Code (Bankr. Case No. 26-31110) on June 4, 2026. In its petition, the debtor reported estimated assets ranging from $0 to $100,000 and estimated liabilities ranging from $100,001 to $1,000,000. Honorable Bankruptcy Judge Suzanne H. Bauknight handles the case. The debtor is represented by William E. Maddox, Jr., Esq., of William E. Maddox, Jr., LLC. MANDS ELECTRIC: Court Extends Cash Collateral Access to July 10 --------------------------------------------------------------- Mands Electric NC LLC received interim approval from the U.S. Bankruptcy Court for the Eastern District of North Carolina, Wilmington Division, to use cash collateral. Under the interim order, the Debtor is authorized to use cash collateral (consisting primarily of bank account funds and accounts receivable) to pay expenses in accordance with its budget, provided use of any weekly budget line item does not exceed 110% of the budgeted amount. The Debtor's authority to use cash collateral terminates on July 10, upon entry of an order modifying or terminating such authority, or upon entry of a final order authorizing continued use of cash collateral during the reorganization process. Several creditors, including merchant cash advance lenders, claim security interests in these assets through multiple UCC-1 filings. As protection, creditors will be granted a valid and continuing security interest in and lien on all post-petition assets of the Debtor similar to their pre-bankruptcy collateral. The next hearing is set for June 30. The order is available at https://urlcurt.com/u?l=BLbAve from PacerMonitor.com. About MANDS Electric NC LLC MANDS Electric NC LLC is a North Carolina-based electrical contracting company specializing in wiring new residential construction. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. N.C. Case No. 26-01997) on May 1, 2026. In the petition signed by Mark Anthony McGarity, manager, the Debtor disclosed up to $1 million in assets and up to $10 million in liabilities. Judge David M. Warren oversees the case. Ciara L. Rogers, Esq., at Waldrep Wall Babcock & Bailey PLLC, represents the Debtor as legal counsel. MARELLI AUTOMOTIVE: Faces Lawsuit Over CEO Hiring, Trade Secrets ---------------------------------------------------------------- Angelica Serrano-Roman of Bloomberg Law reports that French automotive parts manufacturer OPmobility has launched legal action against Marelli Automotive, alleging the company improperly hired former chief executive Laurent Favre and gained access to confidential trade secrets. The case was filed in Delaware bankruptcy court, where Marelli is pursuing restructuring proceedings. In its complaint, OPmobility says Favre left the company last 2025 citing personal reasons after serving as CEO for almost six years. During that time, he was deeply involved in corporate strategy, product development, customer negotiations, and other key aspects of the business, giving him access to highly sensitive information. OPmobility alleges Marelli ignored warnings that employing Favre could violate contractual restrictions and jeopardize proprietary information. The company claims Marelli's conduct amounts to tortious interference and trade secret misappropriation, and it is seeking legal protections against potential competitive misuse of its confidential data, the report states. About Marelli Automotive Lighting USA LLC Marelli Automotive Lighting USA, LLC is a global automotive parts supplier based in Saitama, Japan. The company designs and manufactures advanced technologies for leading automakers, including lighting systems, electronic components, software solutions, and interior products. Operating in 24 countries with a workforce of over 46,000, Marelli also collaborates with motorsports teams and industry partners on high-performance component development. Marelli and its affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Lead Case No. 25-11034) on June 11, 2025. In its petition, Marelli reported between $1 billion and $10 billion in assets and liabilities. Judge Brendan Linehan Shannon handles the cases. The Debtors are represented by Kirkland & Ellis LLP, Kirkland & Ellis International LLP, and Pachulski Stang Ziehl & Jones LLP. Alvarez & Marsal North America, LLC is the Debtors' restructuring advisor. PJT Partners Inc. is the Debtors' investment banker. Kurtzman Carson Consultants, LLC, doing business as Verita Global, is the Debtors' notice and claims agent. The U.S. Trustee for Region 3 appointed an official committee to represent unsecured creditors in the Debtors' Chapter 11 cases. The committee tapped Paul Hastings, LLP and Morris James, LLP as legal counsel and FTI Consulting, Inc. as its financial advi MASA OAK: Gina Klump Named Subchapter V Trustee ----------------------------------------------- The U.S. Trustee for Region 17 appointed Gina Klump, Esq., at the Law Office of Gina R. Klump, as Subchapter V trustee for Masa Oak, LLC. Ms. Klump will be paid an hourly fee of $535 for her services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Ms. Klump declared that she is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Gina Klump, Esq. Law Office of Gina R. Klump 11 5th Street, Suite 102 Petaluma, CA 94952 Phone: (707) 778-0111 Email: gklump@klumplaw.net About Masa Oak LLC Masa Oak, LLC is a limited liability company that owns and manages business assets and investments. The company operates as a privately held enterprise focused on preserving and maximizing asset value. Masa Oak filed for protection under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Calif. Case No. 26-41177) on June 8, 2026. The filing lists estimated assets ranging from $1 million to $10 million and estimated liabilities ranging from $100,001 to $1 million. The Debtor is represented by Beilal M. Chatila, Esq., at the Law Office of Beilal Chatila. MLNARIK LAW: Mark Sharf Named Subchapter V Trustee -------------------------------------------------- The U.S. Trustee for Region 17 appointed Mark Sharf, Esq., a practicing attorney in Los Angeles, as Subchapter V trustee for The Mlnarik Law Group Inc. Mr. Sharf will charge $740 per hour for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Sharf 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 Sharf, Esq. 6080 Center Drive, 6th Floor Los Angeles, CA 90045 Telephone: (323) 612-0202 Email: mark@sharflaw.com About The Mlnarik Law Group Inc. The Mlnarik Law Group Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Calif. Case No. 26-50899) on June 8, 2026, with $500,001 to $1 million in assets and $100,001 to $500,000 in liabilities. Judge Stephen L. Johnson presides over the case. Robert G. Harris, Esq., at Binder Malter Harris & Rome-Banks LLP represents the Debtor as legal counsel. MOUNTAIN PROVINCE: S&P Downgrades LT Issuer Credit Rating to 'SD' ----------------------------------------------------------------- S&P Global Ratings lowered its long-term issuer credit rating on Canada-based Mountain Province Diamonds Inc. (MPV) to 'SD' (selective default) from 'CCC-', and our issue-level rating on its senior secured second lien notes due 2027 to 'D' from 'CCC-'. MPV received an approval from its noteholders to defer the interest payment on its notes that was due June 15, 2026. While this will relieve the company's near-term liquidity burden, this constitutes a default per S&P's rating criteria. The rating action follows MPV's announcement that it deferred the interest payment on its $177 million senior secured second lien notes due June 15 to Dec. 15, 2026. The company also extended maturities on the $40 million term loan and C$33 million working capital facility to Sept. 30, 2026, from June 30. S&P said, "We lowered our rating on the notes to 'D' from 'CCC-' because we consider the deferral of interest payment as a default under our methodology. We lowered our issuer credit rating on MPV to 'SD' because we believe the company remains current on its other obligations. "We note the deferred interest payment and debt extension resulted from mutual agreements with the lenders to support the company's liquidity position as it continues to work on a comprehensive debt restructuring plan." MUSCULOSKELETAL ASSOCIATES: Seeks Cash Collateral Access -------------------------------------------------------- Musculoskeletal Associates, PLLC asks the U.S. Bankruptcy Court for the Western District of Kentucky, Louisville Division, for authority to use cash collateral and provide adequate protection through July 14, 2026. The Debtor argues that access to cash collateral is essential to maintain ongoing operations and pursue a viable reorganization. The practice treats patients with chronic and non-healing wounds in various settings, including its office, skilled nursing facilities, long-term care facilities, and patients' homes, and employs approximately ten staff members. The company's financial distress stems primarily from significant Medicare reimbursement changes implemented in January 2026. Previously, the Debtor operated a model in which it purchased biologic skin-substitute grafts, applied them to patients, billed Medicare for reimbursement, and used those funds to pay vendors. However, reduced Medicare reimbursement rates and increased regulatory scrutiny, including audits, recoupment actions, and litigation risk related to skin-substitute claims, rendered the prior model unsustainable. As a result, the Debtor was forced to restructure its operations through Chapter 11. As of the petition date, several creditors assert security interests in the Debtor's assets, including Stock Yards Bank & Trust Company, Port 51 Lending, LLC, and C T Corporation System as representative of other secured parties. These liens generally cover inventory, accounts receivable, equipment, and other business assets that constitute cash collateral under the Bankruptcy Code. The Debtor requests authorization to use this cash collateral, including cash, receivables, and inventory, to fund ordinary business expenses necessary to continue operations. To protect secured creditors, the Debtor proposes replacement liens on postpetition assets of the same type and priority as prepetition liens, subject to a carve-out for administrative expenses. The Debtor asserts that projected cash usage will not exceed collateral value and that the proposed structure provides sufficient adequate protection while enabling continued operations and reorganization. A copy of the motion is available at https://urlcurt.com/u?l=AXtwEb from PacerMonitor.com. About Musculoskeletal Associates, PLLC Musculoskeletal Associates, PLLC is a Kentucky-based medical practice focused on neuromusculoskeletal medicine, interventional pain management, and wound-care services. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Kent. Case No. 26-31522-jal) on June 3, 2026. In the petition signed by Mark Conliffe, sole member, the Debtor disclosed up to $10 million in both assets and liabilities. Judge Joan A. Lloyd oversees the case. Charity S. Bird, Esq., at Kaplan Johnson Abate & Bird LLP, represents the Debtor as legal counsel. MY VAPE: Gets Extension to Use Cash Collateral ---------------------------------------------- My Vape Order, Inc. received another extension from the U.S. Bankruptcy Court for the Middle District of Florida, Jacksonville Division, to use cash collateral. At the recently held hearing, the court authorized the Debtor's continued use of cash collateral and set a further hearing for July 14. The Debtor was previously allowed to access cash collateral under the court's June 11 second interim order. The second interim order allowed the Debtor to pay with the cash collateral court-approved expenses, quarterly fees owed to the U.S. Trustee, and operating expenses contained in its budget. The order granted Pyxus International, Inc. and other secured creditors replacement liens with the same validity, extent, and priority as their pre-petition liens, and approved monthly payments of $1,500 to Pyxus beginning this month. Pyxus, the Debtor's primary secured creditor, holds a security interest in equipment, inventory, chattel paper, and accounts receivable. It also has a delinquent merchant cash advance obligation to Vital CAP Fund, secured by future receivables. About My Vape Order Inc. My Vape Order, Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 26-01900) on April 29, 2026. In the petition signed by Kyle Godfrey, chief executive officer, the Debtor disclosed up to $500,000 in assets and up to $10 million in liabilities. Judge Jacob A. Brown oversees the case. Bryan K. Mickler, Esq., at Law Offices of Mickler & Mickler, LLP, represents the Debtor as legal counsel. NEAR INTELLIGENCE: Court Narrows Claims in Mobilefuse Case ---------------------------------------------------------- Judge Thomas M. Horan of the U.S. Bankruptcy Court for the District of Delaware granted in part MobileFuse, LLC's motion to dismiss the adversary proceeding captioned as DRIVETRAIN, LLC, as Plan Administrator and Trustee of Near Intelligence, Inc. et al., Litigation Trust, Plaintiff, v. MOBILEFUSE, LLC, Defendant, Adv. Pro. No. 25-52298 (TMH) (Bankr. D. Del.). The motion is denied in all other respects. On December 8, 2023, Near Intelligence, Inc. ("Near Inc."), Near Intelligence LLC ("Near LLC"), Near Intelligence Pte. Ltd. ("Near Singapore"), and Near North America, Inc. ("Near NA") (collectively, "Near") filed petitions under chapter 11. This Court confirmed Near's plan that provided for the establishment of the Near Intelligence Inc. et al., Litigation Trust that has the authority to bring the claims in this case. Drivetrain, LLC (the "Trustee") is the plan administrator and trustee of the litigation trust. In late 2019, Near and MobileFuse, LLC ("MobileFuse") entered into discussions that culminated in three separate agreements: (i) an agreement for Near to provide usage to MobileFuse in exchange for monthly minimum fees (the "2020 Usage Agreement"); (ii) an agreement for MobileFuse to provide services to Near (the "2020 Services Agreement"); and (iii) an agreement for the Near Insiders to invest $2 million in MobileFuse in exchange for a ten percent indirect stake in MobileFuse. The "go-live date" of the 2020 Usage Agreement and 2020 Services Agreement was delayed to April 1, 2021, at which point both parties were bound by the terms of the agreements. The 2020 Usage Agreement provided that the monthly minimum fees from MobileFuse to Near were up to $15 million per annum by the end of June 2021, and at least $25 Million per annum thereafter. Between May 2021 and September 2023, companies in the Near Intelligence group wired more than $25 million to MobileFuse in sixteen transfers that the Trustee calls the Sham Payments. On the allegations of the First Amended Complaint (the "FAC"), the money bought nothing. The invoices behind the payments were calculated not by anyone at MobileFuse but by Near's own chief financial officer, and several were issued in the name of an entity that appears never to have existed. Some payments traveled through a currency exchange that exchanged no currency. MobileFuse timed the sums it legitimately owed Near so that its money went out only after Near's money came in. When questions loomed, the parties papered the relationship with a data license agreement drafted in 2022, backdated to 2020, and signed in 2022. Throughout most of this period, Near's three most senior officers secretly held a ten percent stake in MobileFuse through layered offshore entities, acquired on terms that one of MobileFuse's founders privately called a bargain. In the scheme's final weeks, Near's insiders also agreed, without explanation, to let MobileFuse extinguish a $3 million debt for half that amount. The unraveling was swift. Near withdrew three years of financial statements, placed the officers on leave, and filed these chapter 11 cases. The Trustee of the litigation trust created under Near's confirmed plan now sues to claw back the money. The First Amended Complaint pleads thirteen counts: * Count I is for the avoidance of constructively fraudulent transfers under section 548(a)(1)(B)42 for the Sham Payments made in or after January 2022; * Count II is for the avoidance of constructively fraudulent transfers under section 544(b)(1) for all of the Sham Payment amounts; * Count III is for the avoidance of intentionally fraudulent transfers under section 548(a)(1)(A) for the Sham Payments made in or after January 2022; * Count IV is for the avoidance of intentionally fraudulent transfers under section 544(b)(1) for all of the Sham Payment amounts; * Count V is for the recovery of the fraudulent transfers alleged in Counts I-IV under section 550(a); * Count VI is for the avoidance of the 2023 Dues Settlement Agreement as an intentionally fraudulent transfer under sections 548(a)(1)(A) and 550(a); * Count VII is for avoidance of the 2023 Dues Settlement Agreement as a constructively fraudulent transfer under sections 548(a)(1)(B) and 550(a); * Count VIII is for the avoidance of the 2023 Dues Settlement Agreement as either a constructively or intentionally fraudulent transfer under sections 544(b)(1) and 550(a); * Count IX is for breach of the 2022 Usage Agreement; * Count X is for breach of the 2023 Usage Agreement; * Count XI is for unjust enrichment; * Count XII is for the equitable subordination of MobileFuse's claim under section 510(c); and * Count XIII is an objection to MobileFuse's claim. MobileFuse moves to dismiss every count. It argues that the doctrine of in pari delicto and the Wagoner rule bar the Trustee at the threshold because Near's own officers ran the scheme, that the fraudulent transfer counts lack the plausibility and particularity the rules demand, that the earliest transfers are time-barred, and that the remaining counts fail as a matter of law. The Court finds neither in pari delicto nor Wagoner bars any claim. According to the Court, the avoidance powers belong to the Trustee in its own right, and whether the officers' fraud may be imputed to Near cannot be resolved on the face of this complaint. The intentional fraud counts are pleaded with the particularity that Rule 9(b) requires, the contract and unjust enrichment counts state claims under any potentially applicable law, the subordination and claim objection counts may proceed, and no count is untimely. The Court finds the constructive fraud counts largely survive as well, with one exception. Constructive fraud is measured transferor by transferor, and as to one transferor, non-debtor Near Holdco, the FAC pleads the financial condition of the Near enterprise as a whole and nothing about Near Holdco itself. The Court therefore grants the motion as to Counts I and II to the extent they seek to avoid transfers made by Near Holdco on a constructive fraud theory, each without prejudice, and denies the motion in all other respects. A copy of the Court's Memorandum Opinion dated June 17, 2026, is available at https://urlcurt.com/u?l=EUw4V0 from PacerMonitor.com. About Near Intelligence Near Intelligence Inc. -- https://www.near.com -- publicly traded software firm that provides data insights to major companies including Wendy's Co. and Ford Motor Co. Near is a global, privacy-led data intelligence platform curates one of the world's largest sources of intelligence on people and places. Near's patented technology analyzes data to deliver insights on approximately 1.6 billion unique user IDs across 70 million points of interest in more than 44 countries. With a presence in Pasadena, San Francisco, Paris, Bangalore, Singapore, Sydney, and Tokyo, Near serves enterprises in a diverse spectrum of industries including retail, real estate, restaurant, travel/tourism, telecom, media, and more. Near Intelligence Inc. and its affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Lead Case No. 23-11962) on Dec. 8, 2023. In the petition filed by CFO John Faieta, the Debtor estimated assets between $50 million and $100 million and liabilities between $100 million and $500 million. Near is represented by Willkie Farr & Gallagher LLP and Young Conway Stargatt & Taylor, LLP, as counsel, Ernst & Young LLP as restructuring advisor and GLC Advisors & Co., LLC, as restructuring investment banker. Kroll is the claims agent. Blue Torch, as DIP Agent and Lender, is represented by MORRIS, NICHOLS, ARSHT & TUNNELL LLP (Robert J. Dehney, Matthew Harvey, Brenna Dolphin); and KING & SPALDING LLP (Geoffrey M. King, Roger G. Schwartz, Miguel Cadavid). NEUROONE MEDICAL: Updates ATM Offering for Up to $13.4 Million -------------------------------------------------------------- NeuroOne Medical Technologies Corporation announced in a regulatory filing that the Company filed an updated Prospectus Supplement for the offer and sale of up to $13.4 million of shares of its common stock, par value $0.001 per share, through JonesTrading Institutional Services LLC pursuant to the Company's existing Capital on Demand(TM) Sales Agreement with JonesTrading, under which JonesTrading acts as sales agent in any method permitted that is deemed an "at the market offering" as defined in Rule 415(a)(4) under the Securities Act of 1933, as amended. The Sales Agreement was originally entered into on December 21, 2022. The Shares will be sold pursuant to the Registration Statement, and offerings of the Shares will be made only by means of the Prospectus. Honigman LLP, counsel to the Company, has issued an opinion relating to the Shares, a copy of which is available at https://tinyurl.com/e7htu3fx This announcement shall not constitute an offer to sell or solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities law of such state or jurisdiction About NeuroOne Medical Technologies Headquartered in Eden Prairie, Minnesota, NeuroOne Medical Technologies Corporation -- https://nmtc1.com/ -- is a medical technology company focused on (i) diagnostic, ablation and deep brain stimulation technology for brain related conditions such as epilepsy and Parkinson's disease; (ii) ablation and stimulation for pain management throughout the body; and (iii) drug delivery including diagnostic and stimulation capabilities. The Company is developing and commercializing thin film electrode technology for continuous electroencephalogram ("cEEG") and stereoelectrocencephalography ("sEEG"), spinal cord stimulation, brain stimulation, drug delivery and ablation solutions for patients suffering from epilepsy, Parkinson's disease, dystonia, essential tremors, chronic pain due to failed back surgeries and other pain-related neurological disorders. The Company is also developing the capability to use its sEEG electrode technology to deliver drugs or gene therapy while being able to record brain activity before, during, and after delivery. Additionally, the Company is investigating the potential applications of its technology associated with artificial intelligence. Minneapolis, Minnesota-based Baker Tilly US, LLP, the Company's auditor since 2021, issued a "going concern" qualification in its report dated Dec. 17, 2025, attached to the Company's Annual Report on Form 10-K for the fiscal year ended September 30, 2025, citing that had recurring losses from operations and an accumulated deficit, expects to incur losses for the foreseeable future and requires additional working capital. These are the reasons that raise substantial doubt about the Company's ability to continue as a going concern. As of March 31, 2026, the Company had $7.9 million in total assets, $2.5 million in total liabilities, and $5.4 million in total stockholders' equity. NEXTNRG INC: Issues 260,000 Shares to CEO to Settle Note -------------------------------------------------------- NextNRG Inc. issued 260,000 common shares to Chief Executive Officer Michael D. Farkas at $0.386 per share to settle $100,360 in note liabilities, according to a Form 8-K. The company entered into a stock purchase agreement with Farkas, who is also executive chairman and a significant stockholder, on June 16. NextNRG said Farkas absolved the company of $100,360 owed under a March 7, 2024, promissory note in lieu of paying the cash purchase price for the shares. The company and Farkas also agreed to terminate the 2024 note upon the June 16 issuance of the shares. About NextNRG, Inc. NextNRG is an energy technology company based in Miami Beach, Florida. The company provides AI/ML-based energy management technologies, smart microgrids, battery storage, wireless EV charging solutions, and on-demand mobile fuel delivery. It operates a utility operating system and develops AI/ML-based smart microgrid and virtual power plant technologies, serving properties and facilities such as commercial buildings, schools, hospitals, parking garages, rural and tribal lands, recreational facilities, and government properties. In an audit report dated April 15, 2026, M&K CPAS, PLLC included a going concern qualification, citing a substantial net loss from operations and insufficient revenues and income to fully fund operations. The conditions raised substantial doubt about NextNRG's ability to continue as a going concern. As of March 31, 2026, the company reported total assets of $12.26 million, total liabilities of $34.31 million and total stockholders' deficit of $19.58 million. NO WAKE ZONE: Unsecureds Will Get 100% of Claims over 48 Months --------------------------------------------------------------- No Wake Zone LLC submitted a Second Amended Plan of Reorganization dated June 10, 2026. The Plan proposes to pay creditors of the Debtor from the Debtor's future disposable income. In this Case, the Debtor will pay the Convenience Class Unsecured Creditors in full and reinstate the original loan contracts with General Unsecured Creditor Home Bank. Class 3 consists of General Unsecured Claims. This Class consists of all the Debtor's unsecured creditors including the deficiency claims of the LDR and IRS and the claim filed by Merchandise Foods (Proof of Claim No. 5). There is a total of three claimants in this Class with total claims of $27,334.98. This Class will be paid 100% of outstanding claims over 48 months. Payments will be made pro rata from a monthly distribution of $1,708.44 in the months of May, June, July and August 2027; May, June, July and August 2028; May, June, July and August 2029; and May, June, July and August 2030. Debtor will act as its own disbursement agent. This Class is impaired. Class 4 consists of Equity Interest. Michael Benjamin Sr. and Michael Benjamin Jr., the current members of the Debtor, will become the members of the Reorganized Debtor. This Plan will be funded by the post-petition disposable income earned by the Debtor. Funds held by the Debtor in its DIP account will be used to satisfy outstanding Administrative Expenses. Debtor estimates that the balance in the Debtor in Possession Operating account will be $21,000.00 as of the Confirmation Hearing. A full-text copy of the Second Amended Plan dated June 10, 2026 is available at https://urlcurt.com/u?l=AxC6Hp from PacerMonitor.com at no charge. Counsel for the Debtor: Robin R. De Leo, Esq. The De Leo Law Firm, LLC 800 Ramon St. Mandeville, LA 70448 Tel: (985) 727-1664 Fax: (985) 727-4388 Email: lisa@northshoreattorney.com About No Wake Zone, LLC No Wake Zone, LLC, is a live music, restaurant, and alcohol sale venue located on the Tchefuncta River in Madisonville, Louisiana. The Debtor filed a Chapter 11 bankruptcy petition (Bankr. E.D. La. Case No. 25-11248) on June 17, 2025. At the time of filing, the Debtor estimated up to $50,000 in both assets and liabilities. Judge Meredith S Grabill presides over the case. The Debtor tapped The De Leo Law Firm LLC as counsel. NY 182 REALTY: Commences Chapter 11 Bankruptcy in New York ---------------------------------------------------------- On June 17, 2026, NY 182 Realty, LLC filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Eastern District of New York. According to court filings, the Debtor reports between $100,001 and $1,000,000 in debt owed to approximately 1–49 creditors. The deadline to file both the Chapter 11 Plan and Disclosure Statement is October 15, 2026. About NY 182 Realty, LLC NY 182 Realty, LLC is a real estate holding and investment company engaged in the ownership, leasing, management, and development of commercial and residential properties. NY 182 Realty, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-42955) on June 17, 2026. In its petition, the Debtor reported estimated assets of $1 million–$10 million and estimated liabilities of $100,001–$1,000,000. Honorable Bankruptcy Judge Elizabeth S. Stong handles the case. The Debtor is represented by Irene Nwanyanwu, Esq. of Anele & Associates. OFFICE PROPERTIES: Emerges from Ch. 11, Reduces Debt by $714-Mil. ----------------------------------------------------------------- Office Properties Income Trust announced on Jun 17, 2026, that it has successfully completed its financial restructuring and has emerged from Chapter 11. OPI achieved its objectives to strengthen its balance sheet, reduce debt, and position the Company for long-term operational stability. Pursuant to OPI's Chapter 11 Plan of Reorganization confirmed by the U.S. Bankruptcy Court for the Southern District of Texas on April 22, 2026, OPI entered into the following transactions: Treatment of Debt Claims * OPI's $425 million revolving credit facility has been amended and restated and bears interest at 9.1%, and its $300 million of 9.0% Senior Secured Notes due March 2029 and $177 million of mortgage debt have been reinstated. * Holders of OPI's 3.25% Senior Secured Notes due March 2027 received approximately $385 million of newly issued 8.375% senior secured notes due December 2029 which require principal payments of $20 million in 2026, $30 million in 2027, $45 million in 2028, and $45 million in 2029, with the balance due at maturity. * Holders of OPI's 9.0% Senior Secured Notes due September 2029 received approximately $420 million of newly issued 10.0% senior secured notes due June 2031 and newly issued common shares. * Holders of OPI's 8.0% senior priority guaranteed notes received newly issued common shares. * OPI's other unsecured noteholders received newly issued common shares and warrants to purchase additional common shares and rights to participate in a $35 million equity rights offering. Through the restructuring, OPI has reduced its debt by approximately $714 million. All previously outstanding common shares were canceled upon emergence, and trade and operational creditors will receive payment in full. The post-restructuring balance sheet includes $1.7 billion of debt and approximately 22 million newly issued common shares. A significant portion of the Company's common shares are now owned by its noteholders, including affiliates of Helix Partners Management LP and Redwood Capital Management, LLC, among others. OPI's newly issued common shares are expected to begin trading on June 18, 2026 on the Nasdaq under the symbol "OPI." The RMR Group (Nasdaq: RMR) will continue to manage OPI post-emergence under new five-year business management and property management agreements. Yael Duffy will continue to serve as President and Chief Executive Officer and Brian Donley will continue to serve as Chief Financial Officer of OPI. In connection with its emergence from Chapter 11, OPI has formed a new Board of Directors for the Company comprised of senior executives with deep investing and operating experience in the global real estate industry. The Board includes Jonathan Heller (Founder and Chief Executive Officer of Helix Partners Management LP), who will serve as Chairman, Jonathan Kolatch (Founder and Principal at Jasper Lake, LLC), Irvin Schlussel (Chief Investment Officer at the Diamond Family Office), William Lamkin (Former Partner in Ackrell Capital), and Adam Portnoy (President and Chief Executive Officer of RMR). "We are pleased to have successfully guided OPI through its complex financial restructuring. Working closely with management and the Company's creditors, we strengthened OPI's capital structure and significantly reduced its debt burden," said Jonathan Heller. Sean Sauler and Ruben Kliksberg, Co-Chief Investment Officers at Redwood Capital Management, one of OPI's largest pre-petition creditors and a post-emergence shareholder, shared, "We are proud to have supported OPI through a complex restructuring that leaves the Company, and its high-quality office portfolio, in a significantly delevered and more flexible capital structure." Additional Information Court filings and other documents related to OPI's completed financial restructuring are available on a website administrated by OPI's claims and noticing agent, Kroll Restructuring Administration LLC, at https://restructuring.ra.kroll.com/OPI; by calling Kroll toll-free at (877) 418-2778, or +1 (646) 825-3871 for calls originating outside of the U.S. or Canada; or by emailing Kroll at OPIinfo@ra.kroll.com. About Office Properties Income (OPI) Trust Office Properties Income (OPI) Trust is a national REIT focused on owning and leasing office properties to high-credit-quality tenants in markets throughout the United States. OPI's property portfolio consists of 124 wholly owned properties located in 29 states and the District of Columbia, containing approximately 17.2 million rentable square feet. As of June 30, 2025, approximately 59% of OPI's revenues were from investment-grade rated tenants. In 2024, OPI was named an Energy Star(R) Partner of the Year for the seventh consecutive year. OPI is managed by The RMR Group (Nasdaq: RMR), a leading U.S. alternative asset management company with approximately $39 billion in assets under management as of September 30, 2025, and more than 35 years of institutional experience in buying, selling, financing, and operating commercial real estate. OPI is headquartered in Newton, Massachusetts. Office Properties Income Trust and 72 affiliates filed separate petitions for Chapter 11 bankruptcy protection (Bankr. S.D. Texas Lead Case No. 25-90530) on October 30, 2025, before the Hon. Christopher M Lopez. As of Sept. 30, 2025, Office Properties Income Trust has 3,501,385,950 in total assets and$2,501,583,119 in total liabilities. The petitions were signed by John R. Castellano, their chief restructuring officer. Lawyers at Latham & Watkins LLP and Hunton Andrews Kurth LLP serve as the Debtors' counsel. Moelis & Company serves as the Debtors' investment banker and AlixPartners LLP as their restructuring advisors. Kroll Restructuring Administration LLC serves as the Debtors' claims, noticing & solicitation agent. White & Case LLP represents an ad hoc group of noteholders holding 90% senior secured notes due in September 2029 with an aggregate outstanding principal amount of $567,429,000. Milbank LLP and Porter Hedges LLP represent an ad hoc group of secured noteholders holding 3.25% senior secured notes due in 2027. Paul, Weiss, Rifkind, Wharton & Garrison LLP and Munsch Hardt Kopf & Harr, P.C. represent an ad hoc group of secured noteholders holding (a) 90% senior secured notes due in March 2029; (b) 90% senior secured notes due 2029; (c) 3.25% senior secured notes due 2027 and (d) a short position in OPI's common equity interests. Acquiom Agency Services, LLC, is the DIP agent and is represented by White & Case LLP. OLYMPIA BLOCK: Commences Chapter 11 Bankruptcy in Maine ------------------------------------------------------- On June 17, 2026, Olympia Block LLC filed for Chapter 11 protection in the U.S. Bankruptcy Court for the District of Maine. According to court filings, the Debtor reports between $10 million and $50 million in debt owed to approximately 1–49 creditors. The Statement of Financial Affairs is due on July 1, 2026. About Olympia Block LLC Olympia Block LLC is a real estate holding and investment company engaged in the ownership, operation, leasing, and management of commercial and residential property assets. Olympia Block LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-20175) on June 17, 2026. In its petition, the Debtor reported estimated assets of $1 million–$10 million and estimated liabilities of $10 million–$50 million. Honorable Bankruptcy Judge Peter G. Cary handles the case. The Debtor is represented by D. Sam Anderson, Esq. of Bernstein Shur Sawyer & Nelson. OPERIO GROUP: UCC Public Sale Scheduled for June 29, 2026 --------------------------------------------------------- Enterprise Bank & Trust ("Lender"), as lender to Operio Group, LLC, a Texas limited liability company ("Operio Group"), LFA Machines DFW, LLC, a Texas limited liability company ("LFA Machines"), Vivion, LLC, a Delaware limited liability company ("Vivion"), Silver Hill Holdings California, LLC, a Delaware limited liability company ("Silver Hill"), CCS Stokes Index, LLC, a Texas limited liability company ("CCS Stokes"), Elizabeth Tooling, LLC, a Texas limited liability company ("Elizabeth Tooling"), Elizabeth Tablet Presses, LLC, a Texas limited liability company ("Elizabeth Tablet"), Scheu & Kniss, LLC, a Texas limited liability company ("Scheu & Kniss"), and The Backend Co, LLC, a Texas limited liability company ("Backend") (each, a "Borrower" and, collectively, the "Borrowers"),intends to offer to sell, or cause to be sold, at two separate public sales (each, a "Sale" and together, the "Sales") conducted pursuant to Article 9 of the Uniform Commercial Code, as enacted in the State of Texas (the "UCC"), and in accordance with bid procedures provided to qualified bidders (the "Bid Procedures"), the Sale 1 Assets and the Sale 2 Assets (each as defined below and collectively referred to as the "Sale Assets"). The Sale of the Sale 1 Assets will occur on Tuesday, June 9, 2026, and the Sale of the Sale 2Assets will occur on Monday, June 29, 2026, in each case via videoconference beginning at 12:00 p.m. (prevailing Eastern Time). The Sale Assets for each Sale may be sold in individual lots, in combination lots, or as a whole for that Sale, as Lender may determine in its sole discretion. "Sale 1 Assets" means all property of Vivion (and, to the extent related to or associated with the Vivion brand or business, of Operio Group), all equity interests in Vivion held by Operio Group, and certain property of LFA Machines, all in which Lender holds a security interest and that are capable of being conveyed pursuant to the UCC. "Sale 2 Assets" means all remaining property of the Borrowers (and excluding the Sale 1 Assets) in which Lender holds a security interest and that is capable of being conveyed pursuant to the UCC. The Sale 2 Assets may be offered in individual lots, combination lots,orinwhole, as set forth in the Bid Proceduresand as determined by Lender in its sole discretion. The Borrowers are in default of their obligations under various loan and security documents and other agreements (each as amended and/or restated from time-to-time and collectively, the "Loan Documents"). Lender has been granted a security interest in the Sale Assets to secure the Borrowers' obligations under the Loan Documents. Pursuant to Section 9-617 of the UCC, the Sale Assets sold at each Sale will be sold free and clear of Lender's liens and any subordinate security interests, but subject to any senior liens. Lender reserves the right to withdraw any or all Sale Assets from either Sale and to cancel or adjourn either Sale at any time without notice, except as announced at or prior to the applicable Sale. Lender reserves the right to bid all or a portion of the obligations due and owing under the Loan Documents on some or all of the Sale Assets or any lot thereof at each Sale, as provided for under the UCC. THE SALE ASSETS ARE AND WILL BE OFFERED FORPURCHASE ON AN "AS IS, WHERE IS" BASIS, WITH ALL FAULTS, AND WITHOUT ANY RECOURSE, REPRESENTATION, GUARANTEE, OR WARRANTY OF ANY KIND OR NATURE WHATSOEVER, WHETHER EXPRESS, IMPLIED, OR STATUTORY, INCLUDING WITHOUT LIMITATION ANY WARRANTY OF MERCHANTABILITY,FITNESS FOR A PARTICULAR PURPOSE, QUIET ENJOYMENT,TITLE, OR POSSESSION. Each Sale is subject to its respective Bid Procedures. Prospective bidders may bid on individual lots, combination lots, or all Sale Assets of the applicable Sale as a whole. Prospective bidders must enter into a confidentiality agreement prior to receiving any due diligence materials or the Bid Procedures or participating in either Sale. Potential bidders must contact Candlewood Partners, Attn: Rishi Agarwal, at ra@candlewoodpartners.com or (216) 472-6662, for the confidentiality agreement, the Bid Procedures for each Sale, and access to due diligence materials. OPTIMUM COMMUNICATIONS: Neil Subin and Affiliates Hold 5.4% Stake ----------------------------------------------------------------- Neil S. Subin, MILFAM LLC, MILFAM GP, LLC, and Dark Mirage, LP disclosed in a Schedule 13G filed with the U.S. Securities and Exchange Commission that as of June 5, 2026, they each beneficially own 15,920,494 shares of Optimum Communications, Inc.'s Class A Common Stock, par value $0.01 per share, each representing 5.4% of the 293,263,749 Class A Common Shares outstanding according to the Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2026, filed by the Company with the U.S. Securities and Exchange Commission on May 7, 2026. The Shared Voting Power, Shared Dispositive Power and Aggregate Amount Beneficially Owned by Each Reporting Person, represents 15,920,494 shares of Class A Common Stock, par value $0.01 per share, of Optimum Communications, Inc. owned by Dark Mirage, LP. MILFAM LLC is the investment advisor of Dark Mirage, LP and therefore may be deemed the beneficial owner of the Class A Common Shares owned by Dark Mirage, LP. MILFAM GP, LLC is the general partner of Dark Mirage, LP and therefore may be deemed the beneficial owner of the Class A Common Shares owned by Dark Mirage, LP. Mr. Subin is the President and Manager of MILFAM LLC, which is the Manager of MILFAM GP, LLC, consequently, he may also be deemed the beneficial owner of the Class A Common Shares owned by Dark Mirage, LP. Mr. Subin, MILFAM GP, LLC and MILFAM LLC each disclaims beneficial ownership of any Class A Common Shares other than to the extent he or it may have a pecuniary interest therein. Dark Mirage, LP may be reached through: Neil S. Subin, Manager 2336 SE Ocean Blvd, Suite 400 Stuart, Florida 34996 A full-text copy of Neil S. Subin's SEC report is available at: https://tinyurl.com/ytsbau38 About Optimum Communications Optimum Communications, Inc. (NYSE: OPTU) is one of the largest broadband communications and video services providers in the United States, delivering broadband, video, mobile, proprietary content and advertising services to approximately 4.3 million residential and business customers across 21 states through its Optimum brand. It operates Optimum Media, an advanced advertising and data business, which provides audience-based, multiscreen advertising solutions to local, regional and national businesses and advertising clients. It also operates News 12, which is focused on delivering best-in-class hyperlocal news content. Based on the Company's Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2026, because the Company does not currently have committed financing or cash and cash equivalents combined with projected future cash flows sufficient to satisfy its debt maturities arising within the next 12 months, substantial doubt exists about the Company's ability to continue as a going concern within one year after the date the consolidated financial statements are issued. While management is pursuing efforts to refinance or restructure the Company's debt, or to raise additional capital sufficient to satisfy these debt maturities, there is no assurance these efforts will be successful. As of March 31, 2026, the Company had $27.9 billion in total assets, $33 billion in total liabilities, and $5.2 million in total stockholders' deficiency. OPTIMUM COMMUNICATIONS: Nine Directors Elected at Annual Meeting ---------------------------------------------------------------- Optimum Communications, Inc. held its 2026 Annual Meeting of Stockholders. At the Annual Meeting, the Company's Class A and Class B stockholders voted together as a single class on the following proposals, each of which is described in more detail in the Company's definitive proxy statement filed with the SEC on April 30, 2026: (i) the election of Patrick Drahi, David Drahi, Dexter Goei, Dennis Mathew, Mark Mullen, Dennis Okhuijsen, Susan Schnabel, Charles Stewart and Raymond Svider to the Company's Board of Directors for one-year terms; and (ii) the ratification of the appointment of KPMG LLP as the Company's independent registered public accounting firm for the 2026 fiscal year. The voting results for each proposal, including the number of votes cast for and against, as well as abstentions and broker non-votes, as applicable, are set forth below. In accordance with the Company's Amended and Restated Certificate of Incorporation, Class A stockholders have one vote per share and Class B stockholders have twenty-five votes per share. No other matters were considered and voted on by the stockholders at the Annual Meeting. Proposal 1: Election of Directors 1. Patrick Drahi * For: 4,674,166,959 * Against: 76,168,266 * Abstain: 4,950,523 * Broker Non-Votes: 52,469,525 2. David Drahi * For: 4,625,140,530 * Against: 125,194,710 * Abstain: 4,950,508 * Broker Non-Votes: 52,469,525 3. Dexter Goei * For: 4,658,485,139 * Against: 91,848,943 * Abstain: 4,951,666 * Broker Non-Votes: 52,469,525 4. Dennis Mathew * For: 4,668,277,398 * Against: 82,059,646 * Abstain: 4,948,704 * Broker Non-Votes: 52,469,525 5. Mark Mullen * For: 4,649,822,034 * Against: 100,513,625 * Abstain: 4,950,089 * Broker Non-Votes: 52,469,525 6. Dennis Okhuijsen * For: 4,672,461,587 * Against: 77,844,777 * Abstain: 4,979,384 * Broker Non-Votes: 52,469,525 7. Susan Schnabel * For: 4,675,189,058 * Against: 75,121,452 * Abstain: 4,975,238 * Broker Non-Votes: 52,469,525 8. Charles Stewart * For: 4,625,374,992 * Against: 124,929,941 * Abstain: 4,980,815 * Broker Non-Votes: 52,469,525 9. Raymond Svider * For: 4,623,594,038 * Against: 126,718,405 * Abstain: 4,973,305 * Broker Non-Votes: 52,469,525 Proposal 2: Ratification of Appointment of KPMG LLP as Independent Registered Public Accounting Firm * For: 4,786,138,349 * Against: 10,333,164 * Abstain: 11,283,760 * Broker Non-Votes: -- About Optimum Communications Optimum Communications, Inc. (NYSE: OPTU) is one of the largest broadband communications and video services providers in the United States, delivering broadband, video, mobile, proprietary content and advertising services to approximately 4.3 million residential and business customers across 21 states through its Optimum brand. It operates Optimum Media, an advanced advertising and data business, which provides audience-based, multiscreen advertising solutions to local, regional and national businesses and advertising clients. It also operates News 12, which is focused on delivering best-in-class hyperlocal news content. Based on the Company's Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2026, because the Company does not currently have committed financing or cash and cash equivalents combined with projected future cash flows sufficient to satisfy its debt maturities arising within the next 12 months, substantial doubt exists about the Company's ability to continue as a going concern within one year after the date the consolidated financial statements are issued. While management is pursuing efforts to refinance or restructure the Company's debt, or to raise additional capital sufficient to satisfy these debt maturities, there is no assurance these efforts will be successful. As of March 31, 2026, the Company had $27.9 billion in total assets, $33 billion in total liabilities, and $5.2 million in total stockholders' deficiency. ORIGIN FOOD: Unsecureds Will Get 2.15% of Claims over 60 Months --------------------------------------------------------------- Origin Food Group, LLC filed with the U.S. Bankruptcy Court for the Western District of North Carolina a Disclosure Statement for the Plan of Reorganization dated June 10, 2026. The Debtor operates a dairy product co-packing company at its 20,000 sq. foot manufacturing facility located at 306 Stamey Farm Rd., Statesville, North Carolina. The success of the Debtor's reorganization is in large part dependent on the 4-Loop UF system coming on-line as soon as possible to allow the production of higher-margin, high-protein cultured dairy products. The projected revenues reflected in the Debtor's financial projections therefore assume successful installation and commissioning of the 4-Loop UF system. The Debtor anticipates funding its obligations under the Plan through a combination of cash generated from ongoing operations, proceeds from the sale of surplus and non-essential equipment, and an anticipated equity capital contribution of approximately $1.0 million from existing and/or new investors. On March 20, 2026, the Bankruptcy Court entered an Order Granting Motion for Approval of Auction Marketing Agreement and to Sell Free and Clear of Any Interests in Property authorizing the Debtor's retention of Harry Davis, LLC as auctioneer under the terms of the Auctioneer Engagement Agreement attached to the Motion and further authorizing the auction sale of certain of the Debtor's unneeded equipment to the Order free and clear of any liens, claims or interest. An auction sale was completed on or about June 3, 2026, pursuant to such Order generating preliminary gross sales in the amount of $440,200.00. Class 13 shall consist of all Allowed General Unsecured Claims. As of the date of this Disclosure Statement, the total amount of filed general unsecured is approximately $12,796,409.53. The total amount of scheduled general unsecured claims for which no proof of claim has been filed is $1,355,266.61. After the appropriate anticipated claims objections, subordinations and/or settlements, the Debtor estimates that the aggregate amount of the Allowed Class 13 Claims will be approximately $5,449,132.80 (the "Class 13 Estimated Pool"). After the Claims Deadline and subject to allowed Administrative Claims, the holders of the Allowed Class 13 Claims will receive distributions in an amount equal to the unsecured creditor pool in the monthly amount of $1,962.42, which equals a pro rata share of a distribution stream currently projected to be in an amount equal to $1,962.42, which equals a pro rata share of a distribution stream currently projected to be in an amount equal to $1,962.42 per month over 60-month Plan term, resulting in an estimated recovery of approximately 2.15% for the Class 13 Estimated Pool. Monthly payments for Class 13 will be escrowed into a designated account established by the Debtor and remitted by the Debtor to Allowed Class 13 Claims on a semi-annual basis. Monthly payments provided herein shall begin the first full month after the expiration of the Claims Deadline. The Equity Interest Holders shall retain 100% of their Equity Interest in the Reorganized Debtor. The Debtor projects that it will generate sufficient revenue and cash flow from continuing operations, together with proceeds from the sale of surplus equipment and anticipated equity capital contributions to satisfy its obligations under the Plan as they become due. A full-text copy of the Disclosure Statement dated June 10, 2026 is available at https://urlcurt.com/u?l=K7sFPC from PacerMonitor.com at no charge. Origin Food Group, LLC is represented by: ESSEX RICHARDS, P.A. John C. Woodman, Esq. 1701 South Boulevard Charlotte, North Carolina 28203 Tel: (704) 377-4300 Fax: (704) 372-1357 E-mail: jwoodman@essexrichards.com About Origin Food Group Origin Food Group, LLC, operates a dairy product co-packing company at its 20,000 sq. foot manufacturing facility located at 306 Stamey Farm Rd., Statesville, North Carolina. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D.N.C. Case No. 25-50268) on Aug. 20, 2025. In the petition signed by Halil Ulukaya, president, the Debtor disclosed up to $10 million in both assets and liabilities. Judge Laura T. Beyer oversees the case. John C. Woodman, Esq., at Essex Richards PA, is the Debtor's legal counsel. PAI HOLDCO: Moody's Raises CFR to Caa1 & Alters Outlook to Stable ----------------------------------------------------------------- Moody's Ratings upgraded PAI Holdco, Inc.'s (Parts Authority) corporate family rating to Caa1 from Caa2 and probability of default rating to Caa1-PD from Caa2-PD. Moody's also upgraded the company's senior secured bank credit facility to Caa1 from Caa2. The outlook has been changed to stable from negative. The upgrade reflects the company's material improvement in its operating performance and debt/EBITDA has declined to 6.6x for the 12 months ended March 29, 2026 from 7.6x at the end of 2025 and 8.8x at the end of 2024. In addition, EBITDA margin has increased and the company generated modest free cash in the 12 months ended March 29, 2026. Offsetting these considerations are the company's volatile historical results, weak liquidity and the need to address its $850 million term loan due October 2027. The stable outlook reflects Moody's views that revenue will increase and EBITDA margins will continue to remain at or above 10.0% over the next 12 to 18 months. It also reflects expectations that leverage will continue to modestly decline and that EBITDA less capex to interest expense will remain at or above 1.0x. RATINGS RATIONALE The Caa1 CFR reflects Parts Authority's good scale in terms of revenue, as well as its position as a leading distributor of automotive aftermarket parts and components to a large and aging car parc. Parts Authority benefits from the favorable dynamics of the automotive aftermarket parts sector, including limited flexibility to defer critical replacement parts, which has allowed it to generate relatively consistent organic revenue growth. The business model is characterized by a broad inventory of product stock keeping units (SKUs) supported by a hub-and-spoke distribution network, enabling rapid delivery of parts to installers and distributors. This enables Parts Authority to capitalize on demand for automotive repairs that are both "do-it-for-me" and "do-it-yourself". Moody's expects revenue growth in the mid-single digits, EBITDA margin to remain at or above 10% and lower debt/EBITDA over the next 12 to 18 months. Management implemented a value creation program to improve operating performance which has been evident in recent results. Initiatives were focused on its salesforce, operations and vendors. Efforts to improve efficiencies were also focused on product deliveries, branch consolidation and branch optimization. Moody's projects Parts Authority to have weak liquidity over the next 12 to 18 months despite Moody's expectations for modest free cash flow. The company holds a negligible amount of cash and is reliant on its unrated $420 million asset based lending (ABL) credit facility for liquidity. As of March 29, 2026, the ABL revolver had $91 million of net availability. The facility is subject to a springing fixed charge covenant tested when availability is less than the greater of 10% of current availability and $40 million. The term loan does not have financial maintenance covenants. The $850 million term loan matures in October 2027. The ABL revolver expires in July 2029. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS The ratings could be upgraded if management proactively addressed the upcoming maturity of its $850 million term loan due October 2027 and if improved operating performance was sustained. EBITDA margin expansion would also be viewed favorably. A trajectory of lower debt/EBITDA at or below 6.5x could also lead to an upgrade. The ratings could be downgraded if the upcoming term loan maturity is not addressed or if liquidity deteriorates. Negative free cash flow, margin erosion or expectations for increased debt/EBITDA could also lead to a downgrade. A downgrade could also occur if expectations of the likelihood of default, including a distressed exchange, increases or Moody's estimates of recovery rates declines. The principal methodology used in these ratings was Distribution and Supply Chain Services published in November 2025. The net effect of any adjustments applied to rating factor scores or scorecard outputs under the primary methodology(ies), if any, was not material to the ratings addressed in this announcement. Headquartered in Lake Success, New York, PAI Holdco, Inc. is a leading automotive aftermarket replacement parts distributor serving the do-it-for-me (DIFM) installer channel and the do-it-yourself (DIY) e-commerce channel. Revenue for the 12 months ended March 29, 2026 was $2.35 billion. The company has been majority-owned by private equity sponsor Kohlberg & Company since a leveraged buyout in October 2020. PAPPAS PIPING: Claims to be Paid from Available Cash & Income ------------------------------------------------------------- Pappas Piping Service, Inc. filed with the U.S. Bankruptcy Court for the Central District of California a Disclosure Statement describing Plan of Reorganization dated June 10, 2026. The Debtor is a full-service design build piping company that specializes in commercial process and other specialized piping that is used in critical infrastructure for commercial clients. Pappas was founded in 1988 by Mike Pappas and Guillermo Silva Jr. who owned the company 50/50. Since its founding, the Debtor served a premier set of customers, including toptier general contractors, leading property management firms, and direct clients within the commercial real estate market. In 2022, Mr. Butler purchased the Debtor from Mr. Pappas and Mr. Silva, when Mr. Pappas and Mr. Silva decided to retire. The structure of the sale in 2022, was that a holding company, Ormond Corporation, a Delaware Corporation purchased the shares of the Debtor. Soon after Mr. Butler's acquisition of the Debtor in the early half of 2022, three separate factors came into play that dramatically changed the viability of the business and affected its operations. First, shortly after the acquisition, Debtor lost nearly 40% of its revenue due to a loss of a large $3 million contract. Second, the Debtor's traditional customers (general contractors and their clients) were reticent in moving forward with some projects due to the high-interest-rate environment and general macroeconomic uncertainty associated with the election cycle. This created a temporary lag in new project awarding and initiation. Third, the overall piping and general contractor industry is relatively close-knit and based on relationships. The transition from the decade's long ownership of Mr. Pappas and Mr. Silva to Mr. Butler, in a post-covid world, was difficult, and included multiple growing pains. Notwithstanding its past financial difficulties, the Debtor, Mr. Butler, Mr. Pappas, and Mr. Teeple have begun to turn around operations. Since Mr. Pappas' return, the Debtor has lined up $11 million in specialty project work that is now in the design phase. This specialty work is slated to begin at the beginning of 2026 and take the Debtor through 2026 and into 2027. This work does not include the everyday plumbing bids that the Debtor will handle throughout the year that are anticipated to contribute another 6 million in revenue. Accordingly, the Debtor believes that it has a viable business that can be operated profitably going forward. The Plan is a plan of reorganization with the intent to pay all allowed unsecured creditors 100.0% on account of any allowed claims. The primary purpose is to pay the Debtor's secured, administrative, priority unsecured, and unsecured creditors in full. Class 2(a) consists of Convenience Allowed General Unsecured Claims. Each holder of an Allowed General Unsecured Claim may voluntarily elect to receive 50% of their Allowed General Unsecured Claim not to exceed $25,000 on the Effective Date or as soon as reasonably practicable after the Disbursing Agent has sufficient cash on hand to pay 50.0% of the claim. Any Allowed General Unsecured Claim holder who opts into this Class 2A will expressly waive any of the creditor’s Allowed General Unsecured Claim in excess of $25,000. If an Allowed General Unsecured Claim holder fails to submit a ballot or if the submitted ballot does not affirmatively elect to be treated as a Class 2(a) creditor, then such Allowed General Unsecured Claim holder will be treated as Class 2(b) General Unsecured Claim Holder. Class 2(b) consists of General Unsecured Claims. Unless otherwise agreed by individual claimholders, in full and complete satisfaction of all Class 2(b) claims, claimants shall receive payment of their Allowed General Unsecured Claims in full, including interest at the federal judgment rate as of the Petition Date (3.8%), from the Petition Date until paid in full over the duration of the Plan. It is projected that the Estate will have cash on hand at the Effective Date to make the necessary Effective Date payments and a percentage of the allowed administrative professional fees on the Effective Date. Thereafter, the Reorganized Debtor will fund the Plan payments through continued operations. The Debtor's projections demonstrate that through cash on hand and income generated by the Debtor over the life of the Plan, the Debtor will have the ability to make payments due: (1) on the Effective Date; (2) to administrative claim holders; (3) to Class 1(a), 1(b), and 1(c) claim holders; and (4) to Class 2(a) and 2(b) class holders. A full-text copy of the Disclosure Statement dated June 10, 2026 is available at https://urlcurt.com/u?l=qFP9gP from PacerMonitor.com at no charge. Counsel to the Debtor: David A. Wood, Esq. Matthew W. Grimshaw, Esq. Aaron E. De Leest, Esq. Sarah R. Hasselberger, Esq. MARSHACK HAYS WOOD LLP 870 Roosevelt, Irvine, CA 92620 Telephone: 949-333-7777 Facsimile: 949-333-7778 About Pappas Piping Service Pappas Piping Service, Inc. is a full-service design build piping company that specializes in commercial process and other specialized piping that is used in critical infrastructure for commercial clients. The Debtor sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Cal. Case No. 26-10033) on January 6, 2026, listing up to $10 million in both assets and liabilities. Judge Mark D. Houle oversees the case. The Debtor is represented by David A. Wood, Esq., at Marshack Hays Wood LLP. PECO ELECTRIC: Richard Preston Cook Named Subchapter V Trustee -------------------------------------------------------------- Brian Behr, the U.S. Bankruptcy Administrator for the Eastern District of North Carolina, appointed Richard Preston Cook as Subchapter V trustee for PECO Electric Incorporated. The Subchapter V trustee's hourly rate for this engagement is $375. Mr. Cook declared that he does not have an interest materially adverse to the interest of JHRG Manufacturing's estate, creditors or equity security holders. About PECO Electric Incorporated PECO Electric Incorporated filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. E.D. N.C. Case No. 26-02613) on June 9, 2026, with $100,001 to $500,000 in both assets and liabilities. Clayton W. Cheek, Esq., at Cheek Legal, PLLC represents the Debtor as bankruptcy counsel. PETROS PHARMACEUTICALS: Names Weinstein Accounting Chief -------------------------------------------------------- Petros Pharmaceuticals Inc. appointed Robert Weinstein chief accounting officer and principal financial officer after Mitchell Arnold separated from finance roles, according to a June 18 Form 8-K. Arnold, who served as vice president of finance, principal accounting officer and principal financial officer, mutually agreed with the company to separate from those roles effective June 18. Under a separation agreement, Petros will pay Arnold $38,500 in severance, equal to two months of base salary, in installments. The company also will accelerate 3,000 unvested shares, make a $100 tax-related cash payment and pay COBRA premiums for up to two months if Arnold timely elects continuation coverage. Arnold agreed to waive and release claims connected with his employment and separation. The agreement gives him 21 days to review it and seven calendar days after execution to revoke acceptance. Weinstein, 66, has more than 30 years of accounting and finance experience. Petros said there are no arrangements, family relationships or related-party transactions requiring disclosure in connection with his appointment. About Petros Pharmaceuticals Petros Pharmaceuticals, Inc. is a New York-based company working toward becoming an innovator in the self-care market by expanding access to key nonprescription pharmaceuticals and ACNU products. The company is developing a proprietary integrated technology platform with a SaaS component for Rx-to-OTC switch commercialization and a potential software-as-a-medical-device consumer interface. The platform is in early development and is designed as a retail or online interface to support consumer self-selection or deselection for OTC products. Historically, Petros commercialized Stendra and marketed vacuum erection devices, but is no longer engaged in those activities. In an audit report dated April 15, 2026, HTL International, LLC included a going concern qualification, citing significant losses and negative operating cash flows since inception and the need to raise additional funds to meet obligations and sustain future operations. The conditions raised substantial doubt about Petros' ability to continue as a going concern. As of March 31, 2026, the company reported total assets of $4.39 million, total liabilities of $2.62 million and total stockholders' equity of $1.77 million. POPOVICH ENTERPRISES: Seeks Cash Collateral Access -------------------------------------------------- Popovich Enterprises, LLC asks the U.S. Bankruptcy Court for the Northern District of Ohio, Eastern Division, for authority to use cash collateral and provide adequate protection. The Debtor's restaurant business employs approximately eight workers, including cooks and servers, and generated gross revenues of approximately $721,189 in 2024 and $714,095 in 2025. The Debtor identifies the U.S. Small Business Administration as the primary secured lender. The SBA extended an Economic Injury Disaster Loan during the COVID-19 pandemic and is owed approximately $350,112. The Debtor confirmed that the SBA holds a first-priority lien on substantially all business assets through a properly filed UCC financing statement and does not oppose the requested relief. Several additional lenders, including Huntington National Bank, Clover Capital, Fora Financial, Ideal 247, Lendistry SBLC, and On Deck Capital, are also owed money and may claim security interests in the debtor’s assets. The company further obtained merchant cash advances from several lenders between late 2025 and early 2026. The Debtor asserts that it lacks sufficient unencumbered funds to pay ordinary business expenses such as food inventory, payroll, utilities, taxes, insurance, and lease obligations. Without immediate access to cash collateral, operations would likely cease, eliminating any chance of reorganization and reducing value for creditors. To protect secured creditors, the Debtor proposes granting replacement liens on postpetition assets, including cash, accounts receivable, inventory, equipment, and proceeds, while also providing monthly operating reports. The Debtor argues that continued operation of the business will preserve value, maximize creditor recoveries, and improve prospects for a successful Chapter 11 reorganization. A copy of the motion is available at https://urlcurt.com/u?l=50NBC7from PacerMonitor.com. About Popovich Enterprises, LLC Popovich Enterprises, LLC is an Ohio limited liability company. The bankruptcy petition does not specify the company's business operations, though it appears to function as a privately held commercial enterprise. Popovich Enterprises, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-60830) on June 2, 2026. In its petition, the Debtor reported estimated assets of $0-$100,000 and estimated liabilities of $100,001-$1 million. Honorable Bankruptcy Judge Tiiara N.A. Patton handles the case. The Debtor is represented by Steven Heimberger, Esq. of Roderick Linton Belfance, LLP. POSH QUARTERS: Seeks Cash Collateral Access ------------------------------------------- Posh Quarters, LLC asks the U.S. Bankruptcy Court for the Middle District of Florida, Jacksonville Division, for authority to use cash collateral and provide adequate protection. The company states that it owns and manages a residential real estate property in Duval County and intends to reorganize its debts through a Chapter 11 plan aimed at restoring profitability and long-term financial stability. To support its reorganization efforts, Posh Quarters requests authority to use cash collateral on an ongoing basis to fund necessary operating expenses and maintain cash flow during the case. The Debtor identifies BSI Financial as the primary secured creditor with a first-priority security interest in substantially all of the Debtor's business assets, including accounts, accounts receivable, proceeds, equipment, inventory, furnishings, and various intangible assets such as trademarks. These assets, along with income generated from operations, constitute cash collateral under the Bankruptcy Code. As adequate protection, the Debtor proposes a structured payment and lien arrangement for BSI Financial. Specifically, Posh Quarters agrees to make monthly adequate protection payments of $8,000 beginning June 5, 2026, with payments continuing on the 5th day of each month during the interim period. Additionally, the Debtor proposes three catch-up payments of $2,667 each to cure a shortfall for May 2026, to be paid on June 5, July 5, and August 5, 2026. In addition to these payments, the secured creditor would receive a perfected postpetition replacement lien on cash collateral and related assets, maintaining the same priority and validity as its prepetition lien without requiring additional filings or documentation. The proposed relief also extends replacement lien protections to any additional secured creditors, ensuring that their interests in cash collateral are preserved with the same priority as prepetition liens. The Debtor further agrees to maintain insurance coverage on its property consistent with existing loan and security agreements, thereby protecting the collateral base from loss or deterioration during the bankruptcy case. A copy of the motion is available at https://urlcurt.com/u?l=X9ouY1 from PacerMonitor.com. About Posh Quarters, LLC Posh Quarters, LLC is a limited liability company that may operate in the hospitality, lodging, or short-term rental sector, offering upscale accommodations or property management services. Posh Quarters, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-01497) on April 7, 2026. In its petition, the Debtor reports estimated assets of $1 million to $10 million and estimated liabilities of $100,001 to $1,000,000. Honorable Bankruptcy Judge Jason A. Burgess handles the case. The Debtor is represented by Bryan K. Mickler, Esq. of Mickler & Mickler. PROJECT BOOST: Fitch Affirms 'B' LongTerm IDR, Outlook Stable ------------------------------------------------------------- Fitch Ratings has affirmed the Long-Term Issuer Default Rating (IDR) of Project Boost Purchaser, LLC and its parent Boost Parent, LP (d/b/a J.D. Power) at 'B', and affirmed the company's first-lien debt at 'BB-' with a Recovery Rating of 'RR2'. The Rating Outlook is Stable. J.D. Power's IDR and Stable Outlook reflect strong fundamentals, specifically recurring revenue, good scale measured by EBITDA and strong free cash flow (FCF) generation. The company has valuable data sets and strong customer relationships, and the acquisition of Autovista in 2024 supports its adequate customer and geographic diversification. These strengths are balanced by the elevated but improving leverage and weaker interest coverage which constrains the rating. The rating also considers the exposure to cyclical end markets. Key Rating Drivers Improving Leverage, Weaker Coverage: J.D. Power's Fitch-calculated leverage is elevated but improving. Leverage declined to around 6.2x in 2025, down from around 7.0x in 2024, due to a combination of debt reduction and EBITDA growth. Continued EBITDA growth and mandatory term loan amortization should lead to leverage declining to the high 5.0x range in 2026. The company has a history of deploying debt to fund M&A, and there is some risk that further use of debt to fund acquisitions could delay deleveraging. Fitch's forecast assumes J.D. Power will use FCF to build liquidity, with debt reduction limited to term loan amortization and EBITDA growth. Despite the improving leverage, cash interest coverage is a key constraint for the rating. Cash interest coverage was 1.7x in 2025, and Fitch expects coverage will improve to the mid-2.0x range in 2026 and 2027. This compares to a midpoint of 3.5x under Fitch's Services DAP navigator. The company's stability and FCF generation partly offset this, but positive rating momentum would depend on cash interest coverage being sustained at 3.0x or higher. Strong Recurring Revenue and Visibility: Subscription-based revenue accounts for most of J.D. Power's revenue, providing strong visibility and stability. Many customers operate under annual or multiyear contracts, and net revenue retention has historically been high. Revenue visibility and high EBITDA margins help support healthy and stable FCF generation. The company has generated positive FCF annually since 2021, and Fitch expects FCF margins in the teens in 2026 and 2027. Consistent FCF generation could support deleveraging if needed; however, Fitch expects the company to use FCF generation to build liquidity. Good Scale, Adequate Diversification: The company has good scale (measured by EBITDA) and has improved diversification in recent years. The acquisition of Autovista in 2024 increased the company's scale and diversification, reduced customer concentration risk, and broadened J.D. Power's exposure to the European market. The company has also been focused on expanding its data and analytics solutions and incorporating AI into its offerings. Despite these strengths, Fitch notes the diversification is limited primarily to the auto industry. Industry-Embedded Data Sets: J.D. Power's proprietary data sets are critical to its customers' workflows and difficult to replicate. Over 75% of its customers have been with the company for 10 or more years, and net customer revenue retention has been over 100%. Its products are highly embedded in decision-making processes, with multiple customer touch points across the value chain, and the proprietary nature of the datasets helps provide a competitive moat against AI native competition. J.D. Power's offerings outside of auto industries, such as financial services and utilities, are less entrenched but provide some diversification. Concentrated Exposure to Cyclical Market: The business is heavily reliant on the auto industry, with most of the revenue from auto dealers, suppliers and OEM manufacturers (Ford Motor Company [BBB-/Stable], General Motors Company [BBB/Positive] and others). J.D. Power's revenue declined by more than 10% during the 2008 to 2009 recession, and adjusted EBITDA margin contracted as well. This is an ongoing risk, although mitigated by increased scale and growing business with financial institutions and insurance carriers. Peer Analysis J.D. Power's IDR reflects its position as a market leader in data and analytics solutions for the automotive industry, with strong market share and high brand awareness among industry participants. The company's revenue mix is mostly recurring or subscription-based, and its EBITDA margins are in the mid 40% range. Each of these attributes are stronger than other similarly rated data and analytics companies such as Intermediate NIQ Global Intelligence (dba, NielsenIQ; BB-/Stable) and Neptune Intermediate LLC (dba, Nielsen; B+/Stable. However, these peers are larger when measured by EBITDA scale and have lower leverage. J.D. Power's ratings are also constrained by its exposure to the cyclical auto industry. The company's customer and geographic diversification have improved through acquisitions, but diversification remains limited to the auto industry. Fitch’s Key Rating-Case Assumptions - Organic revenue growth in the low single-digit range in 2026 and 2027; - EBITDA margin held mostly stable in the ratings case; - FCF remains strong for the next several years; - Fitch has not modelled additional M&A, with cash flow instead being used to build liquidity; - SOFR of 3.65%. Corporate Rating Tool Inputs and Scores Fitch scored the issuer as follows, using its Corporate Rating Tool (CRT) to produce the Standalone Credit Profile (SCP): Business and financial profile factors (assessment, relative importance): management ('bb+', Moderate), sector characteristics ('bbb-', Lower), market and competitive positioning ('bb-', Moderate), diversification and asset quality ('b', Higher), company operational characteristics ('bb', Moderate), profitability ('a-', Lower), financial structure ('b', Higher), and financial flexibility ('b', Higher). The quantitative financial subfactors are based on standard CRT financial period parameters: 20% weight for the latest historical year 2025, 40% for the forecast year 2026 and 40% for the forecast year 2027. 'B+' to 'CC' considerations apply in its analysis and have no impact. The governance assessment of 'good' has no impact. The operating environment assessment of 'aa-' has no impact. The SCP is 'b'. To derive the Long-Term IDR: Fitch made no adjustments to the SCP, resulting in an IDR of 'B'. Recovery Analysis Fitch's recovery analysis assumes that J.D. Power would be maximized as a going concern (GC) rather than liquidated in a post-default scenario. Fitch envisions a hypothetical situation including missteps following an acquisition that results in the loss of several large clients as well as the revenue associated with the recently acquired firm. A stressed scenario assumes that the newly acquired operations falter, the sponsor takes a special dividend, and several large OEM clients leave. This results in a dramatic drop in EBITDA at a time of limited liquidity, forcing the company to negotiate with its creditors. In such a scenario, Fitch assumes J.D. Power's GC EBITDA would fall to around $330 million. An enterprise value multiple of 7.5x is applied to the GC EBITDA to calculate a post-reorganization enterprise value. The choice of this multiple considers the highly recurring and asset-light nature of J.D. Power's business, industry M&A, transactions and trading multiples of comparable industries and historical bankruptcy case study exit multiples for companies in the telecommunications, media and technology sector where business services companies such as J.D. Power reside. After deducting 10% for administrative claims, this yields approximately $2.23 billion in value available to service debt leading to superior recovery prospects for the $150 million senior secured revolving credit facility (assumed to be fully drawn in a default scenario) and the $2.6 billion senior secured term loan. J.D. Power's senior secured debts are therefore assigned 'RR2' Recovery Ratings and 'BB-' instrument ratings. RATING SENSITIVITIES Factors that Could, Individually or Collectively, Lead to Negative Rating Action/Downgrade - Adverse operating performance, material changes to industry dynamics and/or the loss of a key customer that meaningfully alters the overall operating profile; - EBITDA leverage sustained above 7.0x; - (CFO-Capex) / Debt sustained below 2.5%; - EBITDA interest coverage sustained below 2.0x. Factors that Could, Individually or Collectively, Lead to Positive Rating Action/Upgrade - Solid operating performance, highlighted by continued organic growth, and positive FCF generation; - Greater clarity regarding capital allocation policies; - EBITDA leverage sustained below 6.0x; - (CFO-Capex) / Debt sustained above 7.5%; - EBITDA interest coverage sustained at or above 3.0x. Liquidity and Debt Structure As of March 31, 2026, J.D. Power' liquidity consists of more than $100 million of cash on the balance sheet, an undrawn senior secured $150 million revolving credit facility, and annual FCF which Fitch estimates to be in excess of $100 million. The company's debt structure is composed entirely of first-lien debt, including an undrawn $150 million senior secured revolving credit facility that matures in 2029, and around $2.6 billion in senior secured term loan debt maturing in 2031. Issuer Profile Project Boost Purchaser, LLC (d/b/a. J.D. Power) is a market leader in data and analytics solutions for the automotive industry, with high market share and brand awareness among industry participants. It is privately owned by Thoma Bravo. MACROECONOMIC ASSUMPTIONS AND SECTOR FORECASTS Fitch's latest quarterly Global Corporates Sector Forecasts Monitor data file which aggregates key data points used in its credit analysis. Fitch's macroeconomic forecasts, commodity price assumptions, default rate forecasts, sector key performance indicators and sector-level forecasts are among the data items included. Climate Vulnerability Signals The results of its Climate.VS screener did not indicate an elevated risk for Project Boost Purchaser, LLC. ESG Considerations The ESG Governance score of '3' represents Fitch's view that while there is some concentration in ownership, this has not led to adverse outcomes for creditors. The highest level of ESG credit relevance is a score of '3', unless otherwise disclosed in this section. A score of '3' means ESG issues are credit-neutral or have only a minimal credit impact on the entity, either due to their nature or the way in which they are being managed by the entity. Fitch's ESG Relevance Scores are not inputs in the rating process; they are an observation on the relevance and materiality of ESG factors in the rating decision. Entity/Debt Rating Recovery Prior ----------- ------ -------- ----- Boost Parent, LP LT IDR B Affirmed B Project Boost Purchaser, LLC LT IDR B Affirmed B senior secured LT BB- Affirmed RR2 BB- RAF PROPERTIES: Case Summary & Two Unsecured Creditors ------------------------------------------------------ Debtor: RAF Properties, LLC 65 Vesper St. Portland ME 04101 Business Description: RAF Properties, LLC is a real estate company that owns and leases one property. Chapter 11 Petition Date: June 17, 2026 Court: United States Bankruptcy Court District of Maine Case No.: 26-20176 Debtor's Counsel: Sam Anderson Esq. BERNSTEIN SHUR SAWYER & NELSON, P.A. 100 Middle Street P.O. Box 9729 Portland ME 04101 Tel: 207-774-1200 Email: sanderson@bernsteinshur.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $10 million to $50 million The petition was signed by Rudolph M. Ferrante as sole member. A full-text copy of the petition, which includes a list of the Debtor's two unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/PSXCSTA/RAF_Properties_LLC__mebke-26-20176__0001.0.pdf?mcid=tGE4TAMA RED VENTURES: Moody's Alters Outlook on 'B2' CFR to Positive ------------------------------------------------------------ Moody's Ratings affirmed Red Ventures, LLC's (Red Ventures) B2 corporate family rating, B2-PD probability of default rating and B2 backed senior secured bank credit facilities ratings. The outlook was changed to positive from stable. The change in the outlook to positive reflects Moody's expectations of improved operating performance in 2026 and 2027 and debt repayment that will lead to a meaningful reduction in leverage. Moody's expects EBITDA will grow in the low single digit percentage range in 2026 with further improvement in 2027 as the company onboards new clients, following the loss of its largest customer in 2025 and from operating enhancements at its service offerings. The company has also announced that it will begin consolidating the financial reporting of its joint venture with United Health Group Incorporated (RVO Health, LLC, "RVOH") in Q2 2026, although Red Ventures will not have full control of cash on the balance sheet at the JV. While leverage is very high at about 7.2x (including Moody's standard adjustment, but excluding the warehouse lines of credit) or 4.9x including Red Ventures' 50% stake in RVOH, Moody's expects EBITDA growth and debt repayment to decrease leverage to roughly 6x or 4x, including the RVOH position, in 2026 with further deleveraging in 2027. Red Ventures is expected to consider monetizing assets including its position in RVOH and its equity position in ZPG, LTD (ZPG) in addition to other assets over the next couple of years that is likely to lead to a significant repayment of debt. The company is also expected to direct a substantial portion of free cash flow (FCF) and the monetization of tax credits in Puerto Rico toward debt reduction. RATINGS RATIONALE The B2 CFR reflects the company's position as a major US Internet publisher of editorial content with online customer acquisition capabilities designed around a proprietary data and analytics platform and performance-based revenue model. The company's digital marketing funnel, buoyed by its owned and operated websites, delivers high customer traffic and sales conversions. The "asset-lite" operating model facilitates good conversion of EBITDA to FCF that supports liquidity and the ability to repay debt. The ratings also receive support from the value of assets (RVOH, ZPG, and other assets) that are expected to support significant debt repayment over the next couple of years. The profile also considers Red Ventures' high financial leverage following challenging operating performance in 2024 and 2025, although Moody's expects results will improve in 2026. Red Ventures' performance was negatively impacted by search engine algorithm changes, but the company has meaningfully reduced its reliance on this source for traffic to its websites. The company will also have to contend with the ongoing shift of ad spending to social media and streaming services, and changes in customer and advertiser behavior as AI usage continues to expand. Operating performance is also impacted by interest rate changes, cyclical advertising spending and volatile transaction revenue. There is also moderately high exposure to customer, end market and geographic concentrations. Moody's expects Red Ventures will maintain good liquidity over the next 12-18 months. Given the relatively modest capital spending and working capital needs, Moody's projects FCF as a percentage of debt in the high single digit percentage range and a cash balance of at least $50 million over the next year at Red Ventures (cash totaled roughly $84 million as Q1 2026). Liquidity is further supported by the $1.02 billion revolving credit facility (RCF) that matures in November 2027 ($309 million drawn as of Q1 2026). Moody's expects the company will extend the maturity of the revolver in a timely manner. Red Ventures is expected to continue to monetize tax credits in Puerto Rico that will be an additional source of liquidity. The term loan is covenant lite, but the RCF is subject to a springing Maximum First Lien Leverage covenant equal to 7.5x (as defined in the first-lien credit agreement) that becomes effective each quarter when more than 35% of the facility is drawn. Historically, the company has drawn under the RCF, triggering the covenant. As of Q1 2026, Red Ventures' First Lien Leverage Ratio was roughly 3.4x (as defined in the first-lien credit agreement). The positive outlook reflects Moody's views that Red Ventures' core operating performance will grow in the low single digits in 2026, with additional improvement in 2027. The RVOH JV is expected to grow at a faster rate and this entity has no debt outstanding. Moody's expects debt repayment from FCF, tax credits, and asset sales to be a significant driver of deleveraging, providing increased financial flexibility to help offset potential AI risks in an evolving media landscape. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS The ratings could be upgraded if Red Ventures' core operations generates consistent organic revenue growth in the mid single digits with EBITDA margin expansion leading to a sustained reduction in total debt to EBITDA well below 4x (including Red Ventures 50% ownership in RVOH). Red Ventures would also need to maintain a good liquidity profile including FCF as a percentage of debt in the mid single digits. The company would also need to demonstrate conservative financial policies consistent with a higher rating. The ratings could be downgraded if leverage was sustained above 6x (including Red Ventures 50% ownership in RVOH) due to a leveraging transaction or decline in operating performance. A weakened liquidity profile or declines in operating performance in its core operations due to market share losses or AI disruption could also lead to negative rating pressure. Founded in 2000 and headquartered in Fort Mill, South Carolina, Red Ventures, LLC ("Red Ventures") is a wholly-owned operating subsidiary of Red Ventures Holdco, LP, which owns a portfolio of digital businesses that bring consumers and brands together through integrated e-commerce, strategic partnerships, and proprietary data across Financial Services, Travel, Connectivity (Home), RV Growth & Transformation (marketing and tech partnerships), Education and Energy end markets. The company also owns a 50% interest in a JV with United Health Group Incorporated (RVO Health, LLC). Private equity firms Silver Lake Partners, General Atlantic and ICONIQ are major investors in the company. Revenue for the twelve months ended Q1 2026 totaled approximately $1 billion. The principal methodology used in these ratings was Business and Consumer Services published in February 2026. The net effect of any adjustments applied to rating factor scores or scorecard outputs under the primary methodology(ies), if any, was not material to the ratings addressed in this announcement. RM FERRANTE: Seeks Chapter 11 Bankruptcy in Maine ------------------------------------------------- On June 17, 2026, RM Ferrante LLC filed for Chapter 11 protection in the U.S. Bankruptcy Court for the District of Maine. According to court filings, the Debtor reports between $10 million and $50 million in debt owed to approximately 1–49 creditors. July 1, 2026 is the deadline for filing the Statement of Financial Affairs. About RM Ferrante LLC RM Ferrante LLC is a holding and investment company engaged in the ownership, management, and operation of business and real estate assets. RM Ferrante LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-20170) on June 17, 2026. In its petition, the Debtor reported estimated assets of $1 million–$10 million and estimated liabilities of $10 million–$50 million. Honorable Bankruptcy Judge Peter G. Cary handles the case. The Debtor is represented by D. Sam Anderson, Esq. of Bernstein Shur Sawyer & Nelson. ROCKY MOUNTAIN: CohnReznick Out; Rosenberg Rich Baker Named Auditor ------------------------------------------------------------------- Rocky Mountain Chocolate Factory, Inc. in a regulatory filing that the Audit Committee of the Board of Directors approved the engagement of Rosenberg Rich Baker Berman, P.A. as the Company's independent registered public accounting firm for the fiscal year ending February 28, 2027. Also, the Committee approved the dismissal of CohnReznick LLP as the Company's independent registered public accounting firm. CohnReznick's report on the Company's financial statements as of and for the years ended February 28, 2026 and February 28, 2025 did not contain any adverse opinion or disclaimer of opinion, nor were they qualified or modified as to uncertainty, audit scope, or accounting principles, except that the reports included an explanatory paragraph relating to substantial doubt about the Company's ability to continue as a going concern. During the Company's fiscal years ended February 28, 2026 and 2025, and the subsequent interim period through June 8, 2026, there were: (i) no "disagreements" (as that term is defined in Item 304(a)(1)(iv) of Regulation S-K and related instructions) between the Company and CohnReznick on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which disagreements, if not resolved to the satisfaction of CohnReznick, would have caused CohnReznick to make a reference to the subject matter thereof in connection with its reports on the Company's financial statements for the years ended February 28, 2026 and February 28, 2025 and (ii) no "reportable events" (as that term is defined in Item 304(a)(1)(v) of Regulation S-K and related instructions). The Company provided CohnReznick a copy of the Current Report on Form 8-K and requested that CohnReznick provide the Company a letter addressed to the Securities and Exchange Commission stating whether or not it agrees with the above disclosures. A copy of such letter is available at https://tinyurl.com/4y3vty3t During the years ended February 28, 2026 and 2025, and through the subsequent interim period from March 1, 2026 through June 8, 2026, neither the Company nor any party acting on its behalf, consulted with RRBB regarding either: (i) the application of accounting principles to a specific transaction, either completed or proposed, or the type of audit opinion that might be rendered with respect to the Company's consolidated financial statements, and no written reports or oral advice was provided to the Company that RRBB concluded was an important factor considered by the Company in reaching a decision as to any accounting, auditing or financial reporting issue or (ii) any matter that was either the subject of a "disagreement" (as that term is defined in Item 304(a)(1)(iv) of Regulation S-K and related instructions) or a "reportable event" (as that term is defined in Item 304(a)(1)(v) of Regulation S-K and related instructions). About Rocky Mountain Chocolate Factory Durango, Colo.-based Rocky Mountain Chocolate Factory, Inc. is an international franchisor, confectionery producer, and retail operator. Founded in 1981, the Company produces an extensive line of premium chocolate candies and other confectionery products. As of February 28, 2026, the Company had $20.2 million in total assets, $15 million in total liabilities, and $5.2 million in total stockholders' equity. Los Angeles, California-based CohnReznick LLP, the Company's auditor since 2023, issued a "going concern" qualification in its report dated May 29, 2026, attached to the Company's Annual Report on Form 10-K for the year ended February 28, 2026, citing that the Company has incurred recurring losses and negative cash flows from operations in recent years and is dependent on debt and equity financing to fund its operations, all of which raise substantial doubt about the Company's ability to continue as a going concern. ROSE WAY: Secured Party Sets July 7, 2026 Public Auction -------------------------------------------------------- In accordance with applicable provisions of the Uniform Commercial Code as enacted in New York, CF-IF-2020-2, LLC a Delaware limited liability company ("Secured Party"), will sell the collateral consisting of all the right, title, and interest of Rose Way, LLC, a New York limited liability company ("Rose Way"), Mohamed Grimeh, an individual ("Grimeh"), and Jonathan Bognacki ("Bognacki"), an individual ("Debtor"), in and to: (i) the entire 100% equity membership interest of Rose Way in Rose Way II, LLC, a New York limited liability company (the "Company"); (ii) the 33.55% equity membership interest of Grimeh in Rose Way, LLC, a New York limited liability company (the "Grimeh Interests" ); (iii) the 33.53% equity membership interest of Bognacki in Rose Way, LLC, a New York limited liability company (the "Bognacki Interests"); (iv) all other limited liability company interests in the Company, including any economic interest, right to share in the income, gains, losses, deductions, credit, or similar items of, and to receive distributions from, the Company, any right to vote and right to receive information concerning the business and affairs of the Company; and (v) all other collateral pledged by Debtor under a Pledge and Security Agreement dated December 20, 2021 ("2021 Pledge") and a Pledge and Security Agreement dated April 22, 2025 ("2025 Pledge" and together with the 2021 Pledge, collectively, the "Rose Way Pledge Agreement"), an October 19, 2019 Membership Interest Pledge Agreement between Grimeh and Goldman Sachs Bank USA (the "Grimeh Pledge Agreement"), an October 19, 2019 Membership Interest Pledge Agreement between Bognacki and Goldman Sachs Bank USA (the "Bognacki Pledge Agreement"), and each Note and related agreements executed in connection with each Loan, as such term is defined in each Pledge Agreement (collectively the "Loan and Security Agreements") and any and all related loan documents (as defined in the Notice of Disposition of Collateral) (collectively, the "Collateral"). The collateral will be sold to the highest qualified bidder at a public sale in accordance with the applicable law. The Company owns certain property and improvements located at 114 Rose Way, Bridgehampton, New York 11976. The sale will take place beginning at 3:00 p.m. Eastern Time, on July 7, 2026, via a web-based video conferencing and/or telephonic conferencing program selected by Secured Party, at the top of the front steps of the New York County Supreme Court located at 60 Centre, Street, New York, NY 10007 and online via Zoom at the following URL: https://bit.ly/RoseWayUCC (URL is case sensitive), Meeting ID: 898 2835 3321, Passcode: 113118. The Collateral will be sold to the highest Qualified Bidder, as that term is defined in the Terms of Sale (the "Terms of Sale") attached to the Notice of Disposition of Collateral, dated May 11, 2026 (the "Notice of Disposition"); provided, however, that Secured Party reserves the right to cancel the sale in its entirety or to adjourn the sale to a future date. The sale will be conducted by Mannion Auctions, LLC, by Matthew D. Mannion, Lead Auctioneer, NYC DCA License No. 1434494, with an office at 299 Broadway, Suite 1601, New York, New York 10007. The Collateral will be sold as a block and will not be divided or sold in any lesser amounts. Interested parties that intend to bid on the Collateral must contact Matt Mannion -- mdmannion@jpandr.com -- or Ethan Holtz -- Eholtz@taftlaw.com to receive the Terms of Sale and bidding instructions. Upon execution of a Terms of Access and Non-Disclosure Agreement, in a form to be provided by counsel for Secured Party, additional documentation and information will be available. Interested parties that are not Qualified Bidders, as that term is defined in the Terms of Sale, will not be permitted to enter a bid. ROYAL ENERGY: UCC Public Sale Scheduled for June 26, 2026 --------------------------------------------------------- Mannion Auctions, Matthew D. Mannion, licensed auctioneer (DCA #1434494), on behalf of L&L Capital Partners LLC, a New York limited liability company ("Secured Party"), offers for sale at public auction on June 26, 2026, at 1:00 pm (Eastern Time) at the offices of Braunstein Turkish LLP, 7600 Jericho Turnpike, Suite 402, Woodbury New York 11797, and simultaneously by remote auction via Zoom (Meeting link: https://us06web.zoom.us/j/88017043260?pwd=rZ1Q2hJb4MmKXkJ167ifzPyLqOkEFm.1; Meeting 1D: 880 1704 3260; Meeting passcode: 254998; Call-in number: +1 646 558 8656), in connection with a Uniform Commercial Code sale of the limited liability company membership interests ("Interests") in Royal Energy Properties LLC, a New York limited company ("Property Owner"), which entity is the fee owner of real property located at 1666-1672 Route 9W, Milton, New York. The Interests represent one hundred percent (100%) of the ownership interest in Property Owner and is owned by Royal Energy Properties Delaware LLC, a Delaware limited lability company. The Interests are being offered as a single lot, "AS-IS, WHERE-IS", with no express or implied warranties, representations, statements or conditions of any kind made by the Secured Party or any person acting for or on behalf of the Secured Party, without any recourse whatsoever to the Secured Party or any other person acting for or an behalf of the Secured Party. The winning bidder shall be responsible for the payment of all transfer taxes, stamp duties and similar taxes incurred in connection with the purchase of the interests. All interested parties shall be required to provide a minimum deposit of $100,000 with Secured Party's counsel-at least 5 days prior to the auction, and all bids (other than credit bids of the Secured Party) must be in U.S. Dollars, and the successful bidder must be prepared to deliver immediately available good funds by wire or bank check to the Secured Party, within twenty-four (24) hours after the-sale and otherwise comply with the bidding requirements. Interested parties who would like additional information concerning the sale of the Interests should contact the Secured Party's counsel, Braunstein Turkish LLP, 7600 Jericho Turnpike, Suite 402, Woodbury, New York 11797, Attn: Vincent L. Georgetti, Esq., Tel: (516) 802-0700 x312, E-mail: vg@braunsteinturkish.com. RTM LOGISTICS: Scott Rever Named Subchapter V Trustee ----------------------------------------------------- The U.S. Trustee for Regions 3 and 9 appointed Scott Rever, Esq., at Genova Burns, LLC as Subchapter V trustee for RTM Logistics Solutions, LLC. Mr. Rever will be paid an hourly fee of $500 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Rever declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Scott S. Rever, Esq. Genova Burns LLC 110 Allen Rd., Suite 304, Basking Ridge, NJ 07920 Telephone: (973) 387-7801 Email: Rever@genovaburns.com About RTM Logistics Solutions LLC RTM Logistics Solutions, LLC is a North Bergen, New Jersey-based logistics company that provides freight transportation and logistics services, including full truckload, less-than-truckload and managed logistics offerings, for businesses requiring domestic freight movement and logistics coordination. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.N.J. Case No. 26-16581) on June 7, 2026, with $0 to $50,000 in assets and $1 million to $10 million in liabilities. Daniel Vogel, sole member, presides over the case. Judge Vincent F. Papalia presides over the case. Douglas J. McGill, Esq. at Webber McGill, LLC represents the Debtor as legal counsel RUEZGA HAUILING: Gina Klump Named Subchapter V Trustee ------------------------------------------------------ The U.S. Trustee for Region 17 appointed Gina Klump, Esq., at the Law Office of Gina R. Klump, as Subchapter V trustee for Ruezga Hauling Inc. Ms. Klump will be paid an hourly fee of $535 for her services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Ms. Klump declared that she is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Gina Klump, Esq. Law Office of Gina R. Klump 11 5th Street, Suite 102 Petaluma, CA 94952 Phone: (707) 778-0111 Email: gklump@klumplaw.net About Ruezga Hauling Inc. Ruezga Hauling Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Calif. Case No. 26-50888) on June 5, 2026, with $100,001 to $500,000 in assets and $500,001 to $1 million in liabilities. Judge Stephen L. Johnson presides over the case. Arasto Farsad, Esq., at Farsad Law Office, P.C. represents the Debtor as bankruptcy counsel. SADDI LLC: Unsecured Creditors to Split $250K in Plan ----------------------------------------------------- Saddi, LLC filed with the U.S. Bankruptcy Court for the Eastern District of Pennsylvania a Second Amended Disclosure Statement describing First Amended Plan of Reorganization dated June 10, 2026. The Debtor owns the real property located at 2660 E York Street (aka Aramingo Avenue), Philadelphia, PA 19125 (the "Property"). The Debtor has a current lease to with M&S Store, Inc. to operate a gas station at the Property. In October of 2020, Vijay Bhardwaj purchased the membership interest of Kuldip Madan in the Debtor. Mr. Bhardwaj purchased the interest for a total of $1,005,000.00. As part of the purchase, Mr. Bhardwaj entered into a promissory note to repay the purchase price to Mr. Madan (the "Promissory Note"). The Debtor filed for Chapter 11 bankruptcy in order to stay execution initiated by L&M to value the Property for a Plan of Reorganization. Through chapter 11 bankruptcy, the Debtor has been provided time to appraise the Property and put forth a Plan of Reorganization to resolve its outstanding debts. The Debtor has engaged an appraiser to value the Property. The Debtor will continue lease the operation of the gas station and will provide an influx of working capital as a new value contribution. Class 3 consists of Allowed Unsecured Claims. Class 3 is impaired. Class 3 Claims are estimated at roughly $2,500,000.00 plus the Unsecured Portion of the Class 2 Claim. The Debtor proposes to pay all Allowed Unsecured Claims a total payment of $250,000.00 pro rata on the effective date. The treatment and consideration to be received by holders of Class 3 Claims shall be in full settlement, satisfaction, release and discharge of their respective Claims and Liens. This class includes all deficiency Claims and the portion of any Claims of any priority unsecured creditor which is not entitled to priority. Class 4 consists of Interest Holders. Each Holder of an Allowed Interest shall retain such Allowed Interest in exchange for a capital contribution of $250,000.00 payment to Class 3. The Debtor has obtained an appraisal of the Property and values the Property at $540,000.00. The Debtor has a current lease on the Property. The Debtor proposes to pay the Class 1 Claim from the operations and the lease. A full-text copy of the Second Amended Disclosure Statement dated June 10, 2026 is available at https://urlcurt.com/u?l=QWYqPN from PacerMonitor.com at no charge. Counsel to the Debtor: Albert A. Ciardi, III, Esq. Daniel S. Siedman, Esq. CIARDI CIARDI & ASTIN 1905 Spruce Street Philadelphia, PA 19103 Telephone: (215) 557-3550 Facsimile: (215) 557-3551 E-mail: aciardi@ciardilaw.com dsiedman@ciardilaw.com About Saddi, LLC Saddi, LLC is a single-asset real estate company that owns one income-producing property. Saddi, LLC filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. E.D. Pa. Case No. 26-10034) on January 5, 2026, listing $1 million to $10 million in both assets and liabilities. The petition was signed by Vijay Bhardwaj as managing member. Judge Derek J Baker presides over the case. Albert A. Ciardi, III, Esq. at CIARDI CIARDI & ASTIN represents the Debtor as counsel. SAILORMEN INC: Nears Sale of Florida Restaurants in Chapter 11 -------------------------------------------------------------- David Minsky of Law360 Bankruptcy Authority reports that Sailormen Inc., the owner of dozens of Popeyes restaurant locations, advanced its Chapter 11 sale efforts Thursday, June 18, 2026, after implementing last-minute changes to a proposed order governing the transaction. The revisions came in response to objections from several companies that questioned certain aspects of the sale structure. During the hearing process, parties negotiated adjustments intended to address concerns over contractual and procedural matters. Those changes helped clear obstacles that could have complicated or delayed approval of the proposed restaurant sale, the report states. The transaction remains a central element of the franchisee's bankruptcy strategy. By moving closer to court approval, the debtor hopes to complete the sale, preserve business value, and improve outcomes for creditors and other stakeholders, according to report. About Sailormen Inc. Sailormen Inc. is a leading franchisee of Popeyes Louisiana Kitchen restaurants. Sailormen Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 26-10451) on January 15, 2026. In its petition, the Debtor reports estimated assets between $100 million and $500 million and $342 million in liabilities. Honorable Bankruptcy Judge Robert A. Mark handles the case. The Debtor is represented by Bradley S. Shraiberg, Esq. SEARLES VALLEY: Files Chapter 11 for Court-Supervised Asset Sale ---------------------------------------------------------------- Searles Valley Minerals Inc. announced on June 15, 2026, that it, together with its affiliates Trona Railway Company LLC and Searles Domestic Water Company LLC, has filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware. The Company intends to use the Chapter 11 process to conduct a competitive, court-supervised sale of substantially all its assets under Section 363 of the Bankruptcy Code. The filing is intended to facilitate the sale of the Company's assets and position the business for a new owner. These assets include Westend, a leading boron supplier; the Trona Railway; Searles Domestic Water Company; and the critical mineral reserves at Searles Lake. "For more than 150 years, Searles Valley Minerals has produced critical minerals from one of the world's few water-soluble borate deposits," said Dennis Cruise, President of Searles Valley Minerals. "As the soda ash market changed, we repositioned the business around borates -- a mineral with no synthetic substitute and growing strategic importance. A court-supervised sale is the most orderly and transparent way to place this rare resource base, and the people who run it, with an owner who can invest in its next chapter." To fund operations during the case, a long-standing strategic supplier, Tata Chemicals North America Inc., has agreed to provide an unsecured, interest-free liquidity advance of up to $20 million while continuing to supply soda ash to the Company's customers. In addition, the Company's parent, Karnavati Holdings, Inc., is providing a $20 million junior debtor-in-possession financing facility. Subject to Court approval, these arrangements are expected to provide sufficient liquidity to operate the business in the ordinary course and fund the sale process through closing. The Company has filed customary first-day motions seeking authority to operate normally throughout the Chapter 11 process, including continuing paying wages and benefits to active employees in the ordinary course. Westend will continue to produce boron, sodium sulfate, salt and other products for customers. Trona Railway will continue to operate. Searles Domestic Water Company will continue to provide potable water service to its customers in Trona without interruption. The Section 363 sale process will be conducted by Lazard, the Company's investment banker. Building on a marketing process begun in 2025 in which more than 140 parties were contacted and 50 entered into confidentiality agreements, the Company remains in active discussions with a number of interested parties. The Company intends to conduct a competitive, open auction under bid procedures to be approved by the Court. These bid procedures will permit the Company to designate a stalking horse bidder to establish a floor for the auction. The Company believes that an open auction, following the extensive prepetition marketing efforts already undertaken, is the path most likely to deliver the highest and best outcome for the estate and its stakeholders. Additional information on the Company's Chapter 11 case can be found at https://cases.stretto.com/SVM. Stakeholders can also contact Stretto, Inc., the Company's noticing and claims agent, at (855) 296-3324 (toll-free) / (626) 746-1263 (international) or TeamSVM@stretto.com. Skadden, Arps, Slate, Meagher & Flom LLP is acting as general bankruptcy counsel, Pachulski Stang Ziehl & Jones, LLP is acting as bankruptcy co-counsel, Ankura Consulting Group, LLC is acting as financial advisor, and Lazard Frères & Co. LLC and Lazard & Co., Limited are serving as investment banker for the 363 process. About Searles Valley Minerals Searles Valley Minerals Inc., headquartered in Overland Park, Kansas, with operations in Trona, California, is one of the largest and lowest cost producers of borates in the United States and a producer of specialty minerals from the Searles Lake brine deposit. Its operations include the Westend plant, the Trona and Argus facilities, Trona Railway Company, and Searles Domestic Water Company. The Company has operated continuously at Searles Lake since the 19th century. The Company is an indirect subsidiary of Nirma Limited through Karnavati Holdings, Inc. SENIOR HOME: Seeks to Use Cash Collateral Thru Sept 25 ------------------------------------------------------ Senior Home Health Care, LLC asks the U.S. Bankruptcy Court for the District of Minnesota for authority to use cash collateral and provide adequate protection, through September 25, 2026, and potentially through confirmation of a reorganization plan. The Debtor argues that access to cash collateral is essential to maintaining operations, paying employees, meeting ordinary business expenses, and avoiding a shutdown caused by severe liquidity constraints. The request follows earlier court orders granting interim cash collateral authority on April 3, 2026, and extended authorization through June 30, 2026. The Debtor contends that denial of continued access to cash collateral would cause immediate and irreparable harm to the business and jeopardize its reorganization efforts. The Debtor's largest traditional lender is Merchants Bank, National Association, which provided a $500,000 loan in June 2024 secured by substantially all of the Debtor's assets, including inventory, equipment, accounts receivable, deposit accounts, general intangibles, and proceeds. Merchants Bank perfected its security interest through UCC filings and held a petition-date balance of approximately $387,719. The Debtor notes that Merchants Bank has since assessed default-rate interest and added more than $21,000 in post-petition attorney's fees, while reserving its right to challenge those charges under 11 U.S.C. section 506(b). The Debtor also identifies Change Healthcare Operations, LLC (Optum), which advanced $500,000 under a temporary funding assistance program and received a security interest in healthcare receivables, deposits, and related assets. However, because Change Healthcare filed an unsecured proof of claim, the Debtor suggests its asserted security interest may not be relevant to the present cash collateral dispute. The Debtor also has several merchant cash advance providers whose transactions the Debtor characterizes as disguised loans rather than true sales of future receivables. These include PIRS Capital, LLC, which advanced $730,000 and claims a current balance of roughly $143,421; Bizfund.com, which provided $576,000 and claims approximately $451,464 remains due; Cedar Advance LLC, which funded $576,000 and claims a balance of about $486,281; and NewCo Capital Group VI LLC, which funded $250,000 and claims a balance of roughly $215,093 despite a prior settlement agreement. The Debtor emphasizes that these MCA agreements contain characteristics more consistent with secured loans than true receivables purchases, including personal guarantees and broad security interests in assets beyond future receivables. The Debtor estimates that as of the bankruptcy filing date it possessed approximately $527,362 in cash collateral, consisting of $6,285 in cash and $521,077 in accounts receivable. It projects that the value of its cash and receivables will increase to approximately $688,016 by the end of August 2026 and $757,500 by the end of September 2026. Based on these projections, the Debtor argues that secured creditors' collateral positions will not diminish and may actually improve during the Chapter 11 case. To provide adequate protection, the Debtor proposes granting replacement liens on post-petition cash collateral to the extent any prepetition cash collateral is used, providing monthly reporting and accounting of cash usage, and maintaining insurance on cash and personal property collateral. Although Merchants Bank has not consented to the proposed arrangement, the Debtor maintains that these protections satisfy the requirements of 11 U.S.C. section 363(e). A hearing on the matter is set for June 24, 2026 at 1:30 p.m. A copy of the motion is available at https://urlcurt.com/u?l=LdvRRs from PacerMonitor.com. About Senior Home Health Care, LLC Senior Home Health Care, LLC is a Medicare-certified skilled home health agency. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Minn. Case No. 26-41044) on March 30, 2026. In the petition signed by Jeylani Hashi, president, the Debtor disclosed up to $1 million in assets and up to $10 million in liabilities. Karl Johnson, Esq., at MJB Law Firm PLLC, represents the Debtor as legal counsel. SHIV POOJA: Kimberly Ross Clayson Named Subchapter V Trustee ------------------------------------------------------------ The U.S. Trustee for Regions 3 and 9 appointed Kimberly Ross Clayson, Esq., as Subchapter V trustee for Shiv Pooja Inc. Ms. Clayson, an attorney at Taft Stettinius & Hollister, LLP, 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. Clayson declared that she is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Kimberly Ross Clayson, Esq. Taft Stettinius & Hollister, LLP 27777 Franklin Rd., Ste. 2500 Southfield, MI 48034 Phone: (248) 727.1635 Email: kclayson@taftlaw.com About Shiv Pooja Inc. Shiv Pooja Inc. filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. E.D. Mich. Case No. 26-46566) on June 8, 2026, with $1 million to $10 million in both assets and liabilities. Judge Maria L. Oxholm presides over the case. Robert N. Bassel, Esq., at Robert Bassel, Attorney At Law represents the Debtor as bankruptcy counsel. SIFI NETWORKS: Seeks $5.3MM DIP Loan from ArcLink ------------------------------------------------- SiFi Networks America, LLC asks the U.S. Bankruptcy Court for the District of Delaware for authority to use cash collateral and obtain postpetition financing. To fund the administrative costs of the case and maintain essential operational continuity, the Debtor entered into a DIP facility with its prepetition lender, ArcLink Fiber LLC, which will serve as both the prepetition secured noteholder and the postpetition DIP lender. This financing was sought after a marketing process led by the Debtor’s sales agent, Sherwood Partners, Inc., which contacted ten alternative distressed-situation lenders; eight declined due to structural risks, cash burn concerns, and negative EBITDA, while two failed to respond, leaving ArcLink as the sole viable funding source available to prevent immediate and irreparable harm to the estate. The proposed DIP Facility structures a senior secured, superpriority delayed-draw term loan promissory note totaling up to $5.3 million in aggregate limits. This includes a New Money DIP Loan of $3.1 million—structured with $1.135 million available upon entry of the Interim Order and $1.995 million available upon entry of the Final Order—alongside a financial "roll-up" of the Debtor’s outstanding prepetition debt. The roll-up component consists of an initial $1.1 million under the Interim Order and a remaining $1,088,039 under the Final Order, plus postpetition interest at the non-default contract rate and all unreimbursed fees. Prior to bankruptcy, all working capital was historically provided by the parent entity, SNA Ltd., until ArcLink extended a $2.2 million prepetition loan on May 6, 2026, carrying a 13% base interest rate (with a 5% default premium) maturing on August 6, 2026, which granted ArcLink a first-priority lien on substantially all assets. The new DIP obligations do not carry any upfront funding or transactional fees, but they mandate full out-of-pocket expense and professional fee reimbursements for ArcLink's legal counsel, Clifford Chance US LLP and Young Conaway Stargatt & Taylor, LLP, subject to a ten-day objection window by designated notice parties. To manage funds responsibly, operations are strictly governed by a 13-week cash flow budget approved by the lender, which the Debtor asserts is sufficient to cover ordinary corporate obligations, employee compensation, contract counterparty needs, and Chapter 11 administrative costs. The Debtor must submit a rolling 13-week cash flow forecast update by Wednesday of each calendar week, participate in regular advisory teleconferences, and secure explicit written approval from ArcLink to establish each successive "Approved Budget." Compliance is tracked dynamically through mandatory variance reports submitted by 5:00 p.m. Eastern Time every Wednesday starting on the second full week following the interim order, which aggregate cumulative expenditures over designated variance testing periods. In exchange for this liquidity, the Debtor requests that the court grant ArcLink superpriority administrative expense status and senior secured DIP liens on all collateral, modify the automatic stay to effectuate the financing terms, waive any equitable surcharges against prepetition property under 11 U.S.C. Section 506(c), and bypass the "equities of the case" asset exception under Section 552(b). A copy of the motion is available at https://urlcurt.com/u?l=shRQND from PacerMonitor.com. About SiFi Networks America, LLC SiFi Networks America, LLC is a Wilmington, Delaware-based telecommunications infrastructure project management and deployment services provider. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Dela. Case No. 26-10912) on June 5, 2026. In the petition signed by Jacen Dinoff, chief restructuring officer, the Debtor disclosed up to $10 million in both assets and liabilities. Judge Brendan Linehan Shannon oversees the case. The Debtor tapped Patrick J. Reilley, Esq. at COLE SCHOTZ PC as restructuring and bankruptcy counsel, KCP Advisor Group, LLC as financial restructuring advisor, Sherwood Partners Inc as sales agent, and Stretto, Inc as notice, claims, solicitation, balloting and administrative agent. SIMPLY INTERIOR: Seeks $3.3MM DIP Loan from Great Rock ------------------------------------------------------ Simply Interior Homes, LLC and affiliates ask the U.S. Bankruptcy Court for the District of Delaware for authority to use cash collateral and provide adequate protection. Facing critical liquidity constraints with only approximately $293,459 in cash on hand and a projected peak funding need of $3.3 million, the Debtors are seeking court approval for an interim and final order to enter into a $15 million postpetition senior secured, asset-based debtor-in-possession financing facility and to utilize existing cash collateral. Great Rock Capital Partners Management, LLC will serve as the administrative agent, with GRC SPV Investments, LLC and Wingspire Capital LLC acting as the DIP lenders. The Debtors emphasize that immediate access to this funding is vital to maintain operations, preserve going-concern value, and execute a value-maximizing sale process for the benefit of their stakeholders. The proposed $15 million DIP Facility is structured into two primary components: New Money DIP Loans: Up to $5 million in revolving credit commitments, with approximately $3.6 million budgeted under an initial approved plan and any excess funded at the lenders' discretion. Roll-Up Loans: A roll-up of prepetition secured debt into postpetition obligations, structured at a ratio of $3 of prepetition debt for every $1 of new money funded, capped at a maximum aggregate of $10 million. This roll-up applies only to the first $3.3 million of new money loans funded. Financing terms include an interest rate tied to the Adjusted Term SOFR Rate plus 7.50% paid monthly in cash. Applicable fees consist of a 0.75% monthly unused line fee, a $5,000 monthly collateral monitoring fee, and a 2.00% paid-in-kind closing fee on the new money commitments. The facility is scheduled to mature on September 30, 2026, unless terminated earlier by standard bankruptcy milestones such as case conversion to Chapter 7, dismissal, confirmation of a plan, or an event of default. To secure the financing, the Debtors propose granting the DIP lenders superpriority administrative expense claims and senior priming liens on all prepetition and postpetition property. These liens will be senior to existing prepetition liens and junior only to a standard professional carve-out and permitted prior liens. As adequate protection for the priming of their collateral, prepetition secured parties will receive subordinate adequate protection liens, administrative expense claims, and the reimbursement of reasonable out-of-pocket advisor fees. Upon entry of a final order, the Debtors also agree to waive the right to surcharge collateral under 11 U.S.C. Section 506(c) and waive the equitable doctrine of marshaling. A copy of the motion is available at https://urlcurt.com/u?l=AtoEYi from PacerMonitor.com. About Simply Interior Homes, LLC Simply Interior Homes, LLC operates a home textiles and home decor business that designs, sources and supplies fashion bedding, window treatments, bath products, decorative textiles, and related home furnishings for major retailers. The Debtors were formed in early 2025 in connection with the carve-out of the soft goods business divisions from Keeco, LLC, a portfolio company of Centre Lane Partners, and related affiliates. Simply Interior Homes sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr.D. Dela Case No:1:26-bk-10922) on June 8, 2026. Sheridan Hill, II, James R. Risener, III, L. Katherine Good, Brett Michael Haywood, Sameen Rizvi, Halley Dannemiller, at Potter Anderson & Corroon, represent the Debtors as legal counsel. SKYLARK HOTELS: Gets Interim OK to Use Cash Collateral Until July 2 ------------------------------------------------------------------- Skylark Hotels, Inc. received interim approval from the U.S. Bankruptcy Court for the Central District of California, Riverside Division, to use cash collateral. Under the amended order, the Debtor is authorized to use cash collateral through July 2 in accordance with its post-petition operating budget, which projects total monthly operational expenses of $53,130. Skylark Hotels intends to use its cash collateral to continue operating its 82-room budget motel in San Bernardino, California during its Chapter 11 case. This cash collateral consists of rents and operating revenues in which its lender, New Omni Bank, N.A., asserts liens. New Omni Bank will be granted adequate protection through monthly payments of $39,533.33. The order provides that the payments must be applied solely to accrued interest under the loan and may not reduce the outstanding principal balance. The payments do not modify the loan terms or waive any of the bank's rights and remedies. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/xY7yL from PacerMonitor.com. The court scheduled a final hearing for July 2. Skylark Hotels' business had been profitable until early 2024, when nearby competing hotels opened and forced rate reductions that impaired cash flow and led to loan and property tax defaults, though conditions have recently improved with increased bookings from government housing programs. The Debtor's assets are estimated at about $6.77 million, primarily the motel property and related operating assets, while the secured debt to the lender is approximately $5.93 million. New Omni Bank is represented by: Kevin H. Morse, Esq. Clark Hill, PLC 130 E. Randolph Street, Suite 3900 Chicago, IL 60601 Telephone: (312) 985-5900 Facsimile: (312) 985-5999 kmorse@clarkhill.com About Skylark Hotels Inc. Skylark Hotels, Inc. doing business as Empire Inn, owns and operates an 82-room budget motel located at 294 E. Hospitality Lane in San Bernardino, California, with a comparable sale value of about $6.5 million. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Cal. Case No. 26-10787) on February 1, 2026. In the petition signed by Kalpesh Prafull Solanki, managing member, the Debtor disclosed $6,771,564 in total assets and $10,117,752 in total liabilities. Judge Magdalena Reyes Bordeaux oversees the case. Kevin Tang, Esq., at Tang & Associates, represents the Debtor as legal counsel. SLEEP NUMBER: Court Stays "Evans" Class Action Lawsuit ------------------------------------------------------ Magistrate Judge Stanley A. Boone of the U.S. District Court for the Eastern District of California stayed the class action lawsuit captioned as JUNE EVANS, individually and on behalf of all others similarly situated, Plaintiff, v. SLEEP NUMBER CORPORATION, Defendant, Case No. 1:24-cv-01136-KES-SAB (E.D. Cal.). Plaintiff commenced this action on September 24, 2024. On June 15, 2026, Defendant Sleep Number Corporation filed a suggestion of bankruptcy indicating that on June 12, 2026, Defendant filed for bankruptcy in the United States Bankruptcy Court for the Southern District of New York for relief under Chapter 11 of the United States Bankruptcy Code (the "Bankruptcy Code") (In re: Sleep Number Corp., No. 1:26-bk-11399 (Bankr. S.D.N.Y); In re: Select Comfort Retail Corp., No. 1:26-bk-11400 (Bankr. S.D.N.Y.); In re: Select Comfort Canada Holding Inc., No. 1:26-bk-11398 (Bankr. S.D.N.Y.); In re: Select Comfort SC LLC, No. 1:26-bk-11401 (Bankr. S.D.N.Y.); In re: Sleep Number Health Corp., No. 1:26-bk-11402 (Bankr. S.D.N.Y.)). Pursuant to Section 362 of the Bankruptcy Code, all actions against a defendant who has filed a bankruptcy petition are automatically stayed once the petition is filed. Accordingly, all proceedings in this matter against Defendant shall be stayed pursuant to Section 362(a) of Title 11, United States Code. A copy of the Court's Order dated June 16, 2026, is available at https://urlcurt.com/u?l=c2eBp3 from PacerMonitor.com. About Sleep Number Corp. Sleep Number Corp., based in Minneapolis, Minnesota, is a leader in personalized sleep wellness. Its mattresses are designed to evolve with each sleeper to help them feel and perform their best. With adjustable firmness, pressure-relieving support, and temperature-balancing comfort built into every mattress, Sleep Number beds adapt to customers' changing needs, night after night, year after year. As of December 31, 2025, the Company had $680.06 million in total assets, $1.26 billion in total liabilities, and $578.48 million in total shareholders' deficit. Minneapolis, Minnesota-based Deloitte & Touche LLP, the Company's auditor since 2023, issued a "going concern" qualification in its report dated March 12, 2026, citing that the impending maturity of the Company's credit facility, projections of noncompliance with future debt covenants, and lack of liquidity raise substantial doubt about its ability to continue as a going concern. SLEEP NUMBER: Davis Polk Serves as Adviser in Chapter 11 Cases -------------------------------------------------------------- Davis Polk is advising Sleep Number Corporation and its affiliates (collectively, "Sleep Number") in connection with their cases under chapter 11 of the United States Bankruptcy Code. Sleep Number commenced the chapter 11 cases to effectuate a sale of substantially all of the company's assets as a going concern business. Immediately prior to the chapter 11 filing, Sleep Number entered into an asset purchase agreement for the sale of substantially all of its assets with SNBR Inc. (an affiliate of Sleep Country Canada Inc., the largest specialty mattress retailer in Canada), which has agreed to act as the stalking horse bidder through a court-supervised sale process. Sleep Number intends to continue its prepetition marketing process in chapter 11 to obtain the highest or otherwise best bid in the going-concern sale of its assets. On June 12, 2026, Sleep Number filed voluntary chapter 11 petitions in the United States Bankruptcy Court for the Southern District of New York. At a hearing that same day, Judge Kyu Y. (Mike) Paek approved Sleep Number's debtor-in-possession financing on an interim basis, which authorized Sleep Number to access and use financing commitments provided by its existing lenders under a $260 million debtor-in-possession credit facility, including up to $65 million in new financing. In addition, the Court granted substantially all of the relief requested by Sleep Number in its first-day motions, including the authority to pay critical vendor obligations, taxes, insurance obligations and employee wages and benefits. Sleep Number is the leader in personalized sleep wellness. Its mattresses are designed to evolve with each sleeper to help them feel and perform their best. Headquartered in Minneapolis, Minnesota, Sleep Number employs approximately 2,920 employees and operates 572 Sleep Number stores with locations in 50 U.S. states. The Davis Polk restructuring team includes partners Brian M. Resnick and Angela M. Libby, counsel Stephen D. Piraino and Richard J. Steinberg, associates Sihui (Sophy) Ma, Katharine Somers, Motty (Mordechai) Rivkin, Eva (Luying) Wang, Katharine O'Neill and Tashanique (Tasha) Brown. The finance team includes partners Hilary Dengel and Robert F. Smith and counsel Louis Quagliato. The corporate team includes partners Brian Wolfe and Lee Parnes, counsel F. Adam Abulawi, and associate Leon Ren. Partner Corey M. Goodman is providing tax advice. Partner Arthur J. Burke is providing antitrust and competition advice. Partner Veronica M. Wissel is providing executive compensation advice. Partner Elliot Moskowitz is providing litigation advice. Partner Frank Azzopardi is providing intellectual property advice. All members of the of the Davis Polk team are based in the New York office. Davis Polk refers to Davis Polk & Wardwell LLP, a New York limited liability partnership, and its associated entities. About Sleep Number Corp. Sleep Number Corp., based in Minneapolis, Minnesota, is a leader in personalized sleep wellness. Its mattresses are designed to evolve with each sleeper to help them feel and perform their best. With adjustable firmness, pressure-relieving support, and temperature-balancing comfort built into every mattress, Sleep Number beds adapt to customers' changing needs, night after night, year after year. As of December 31, 2025, the Company had $680.06 million in total assets, $1.26 billion in total liabilities, and $578.48 million in total shareholders' deficit. Minneapolis, Minnesota-based Deloitte & Touche LLP, the Company's auditor since 2023, issued a "going concern" qualification in its report dated March 12, 2026, citing that the impending maturity of the Company's credit facility, projections of noncompliance with future debt covenants, and lack of liquidity raise substantial doubt about its ability to continue as a going concern. SLEEP NUMBER: Files For Chapter 11 Bankruptcy Protection -------------------------------------------------------- Sleep Number Corporation announced in a regulatory filing that on June 12, 2026, the Company and its subsidiaries filed voluntary petitions for relief under chapter 11 of title 11 of the United States Code in the United States Bankruptcy Court for the Southern District of New York. The Chapter 11 Cases are jointly administered under the caption In re: Sleep Number Corporation, et al., Case No. 26-11399. The Debtors continue to operate their business and manage their properties as "debtors-in-possession" under the jurisdiction of the Bankruptcy Court and in accordance with the applicable provisions of the Bankruptcy Code and orders of the Bankruptcy Court. Stalking Horse Asset Purchase Agreement On June 12, 2026, the Company entered into a "stalking horse" Asset Purchase Agreement with SNBR, Inc., a wholly-owned subsidiary of Sleep Country Canada Inc., and Sleep Country Canada Inc., pursuant to which the Purchaser agreed to purchase substantially all of the assets of the Company for a purchase price of $415 million in cash and the assumption of certain liabilities, subject to certain potential purchase price adjustments, as set forth in the Stalking Horse Purchase Agreement. The Assets to be acquired do not include, among other things, any executory leases or contracts that the Purchaser chooses to reject or are otherwise rejected in the Chapter 11 Cases. Upon Bankruptcy Court approval, the Purchaser is expected to be approved as the "stalking horse" bidder in connection with the asset sale under section 363 of the Bankruptcy Code. The asset sale will be conducted through a Bankruptcy Court-supervised process pursuant to Bankruptcy Court-approved bidding procedures. The asset sale is subject to the receipt of higher or otherwise better offers from competing bidders at an auction (if applicable), approval of the asset sale by the Bankruptcy Court, and certain other conditions set forth in the Stalking Horse Purchase Agreement, including (i) the entry of an order of the Bankruptcy Court authorizing and approving the asset sale, (ii) the performance by each party of its obligations under the Stalking Horse Purchase Agreement, (iii) the accuracy of each party's representations, (iv) the delivery of certain closing deliverables, (v) the expiration or termination of any applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, (vi) the absence of any judicial or administrative proceeding by the Federal Trade Commission or the United States Department of Justice Antitrust Division that seeks to prevent, restrain, enjoin or prohibit the asset sale under antitrust laws, and (vii) the absence of any order by any governmental authority that restrains, enjoins, stays, or prohibits the consummation of the asset sale. The obligation of the Purchaser to consummate the asset sale is also conditioned upon the Company having not experienced a material adverse effect. The Stalking Horse Purchase Agreement also provides for a break-up fee and expense reimbursement payable to the Purchaser upon the occurrence of certain events, and the forfeiture of a deposit to the Company upon the occurrence of certain events. Advisors Sleep Number is advised by Davis Polk & Wardwell LLP as legal advisor, Guggenheim Securities, LLC as investment banker, AP Services, an affiliate of AlixPartners, as interim management, and Joele Frank, Wilkinson Brimmer Katcher as strategic communications advisor. Sleep Country Canada is advised by Goodwin Procter LLP as legal advisor and PwC as financial advisor. Debtor-in-Possession Financing The prepetition lenders under the Company's Amended and Restated Credit and Security Agreement are expected to provide up to approximately $260 million of debtor-in-possession financing in the form of: (i) new money superpriority senior secured term loan commitments in an aggregate principal amount of up to $65 million, available in multiple draws in an amount of up to $50 million upon entry of the interim DIP order and up to the difference between $65 million and the amount of DIP Loans actually funded prior to entry of the final DIP order, and (ii) roll-up loans comprising secured obligations under the Prepetition Credit Agreement that shall be converted and exchanged into roll-up loans under the DIP Credit Agreement in an aggregate principal amount of up to $195 million (the "Roll-Up Loans"), subject to the entry of the interim DIP order and the final DIP order. The DIP Loans and the Roll-Up Loans are expected to bear interest at a rate per annum equal to either SOFR plus 8.00% or the "base rate" plus 7.00%, and are expected to mature on the date that is three months from the date of the DIP Amendment. Sleep Number's obligations under the proposed DIP Loans and the Roll-Up Loans are expected to be guaranteed by each subsidiary of the Company and secured by: (a) a perfected first priority lien on all DIP Collateral to the extent such collateral is unencumbered, (b) a perfected priming senior security interest in and liens on the prepetition collateral, and (c) a perfected junior security interest in and liens on the DIP Collateral to the extent such DIP Collateral is subject to permitted prior senior liens. The proposed DIP Credit Agreement is subject to approval by the Bankruptcy Court and will be subject to customary conditions precedent. There can be no assurance that the Company will be able to successfully complete the debtor-in-possession financing on the terms described above, or at all. Acceleration of Debt Obligations The commencement of the Chapter 11 Cases constituted an event of default under the Prepetition Credit Agreement, dated February 18, 2018 (as amended through that certain Forbearance Agreement and Thirteenth Amendment dated April 27, 2026), between the Company as Borrower, the Lenders named therein, and U.S. Bank National Association as Administrative Agent, resulting in the acceleration of the Company's payment obligations. As such, substantially all of the Company's debt, with balances of approximately $672.5 million in the aggregate principal amount as of the Petition Date, is in default and accelerated, but subject to the automatic stay under the Bankruptcy Code. Any efforts to enforce payment obligations under the Prepetition Credit Agreement are automatically stayed as a result of the Chapter 11 Cases. Cautionary Note Regarding Common Shares The Company cautions that trading in its securities during the pendency of the Chapter 11 Cases is highly speculative and poses substantial risks. Trading prices for the Company's securities may bear little or no relationship to the actual recovery, if any, by holders of the Company's securities in the Chapter 11 Cases. The Company expects that holders of shares of the Company's common shares will experience a complete or significant loss on their investment, depending on the outcome of the Chapter 11 Cases. Based on the purchase price in the Stalking Horse Purchase Agreement, the common shares are significantly out of the money and would have no recovery. Additionally, as a result of the Chapter 11 Cases, the Company expects that its common shares will be delisted from trading on Nasdaq. About Sleep Number Corp. Sleep Number Corp., based in Minneapolis, Minnesota, is a leader in personalized sleep wellness. Its mattresses are designed to evolve with each sleeper to help them feel and perform their best. With adjustable firmness, pressure-relieving support, and temperature-balancing comfort built into every mattress, Sleep Number beds adapt to customers' changing needs, night after night, year after year. Minneapolis, Minnesota-based Deloitte & Touche LLP, the Company's auditor since 2023, issued a "going concern" qualification in its report dated March 12, 2026, citing that the impending maturity of the Company's credit facility, projections of noncompliance with future debt covenants, and lack of liquidity raise substantial doubt about its ability to continue as a going concern. As of December 31, 2025, the Company had $680.06 million in total assets, $1.26 billion in total liabilities, and $578.48 million in total shareholders' deficit. SLEEP NUMBER: Initiates Sale Process to Combine with Sleep Country ------------------------------------------------------------------ Sleep Number Corporation (Nasdaq: SNBR) announced on Jun 12, 2026, that it has entered into an agreement to combine with Sleep Country Canada to create a leading North American mattress and bedding company. The transaction will enable the combined company to provide consumers across the United States and Canada a broader assortment of innovative sleep products and services in stores and online. To facilitate the combination, Sleep Number initiated a voluntary Chapter 11 sale process. Through this process, Sleep Number fully expects to continue its day-to-day operations, including serving customers with its newest product, servicing warranties and delivering mattresses in homes. Customers can continue to shop for the company's products online and in stores nationwide and, following the close of the transaction, Sleep Number plans to continue to assemble its products in the United States. Linda Findley, President and Chief Executive Officer of Sleep Number, said, "For 40 years, Sleep Number has been a leader in sleep innovation, helping millions of customers improve their health and well-being through personalized sleep solutions. While we have made meaningful progress advancing our turnaround efforts and strengthening our operations, our capital structure remains unsustainable. Following a comprehensive review of our strategic options and a robust sale process, we are confident that moving forward with the Sleep Country Canada agreement and this court-supervised sale process will enable us to address our financial constraints. It will also position us to expand our business, helping more people achieve their best sleep both in the United States, and through future international expansion. Findley continued, "As we move through this process, we are focused on serving our customers and supporting our partners. Our team is dedicated to advancing our new product line and continuing to serve current and future customers every day. We thank them, along with our partners and suppliers, for their continued support." Stewart Schaefer, President and Chief Executive Officer of Sleep Country Canada, said, "We have long admired Sleep Number, its game-changing personalized sleep products and the talented team behind them. Together, we see a tremendous opportunity to build on our complementary strengths and accelerate growth across the United States while introducing Sleep Number's innovative sleep solutions to consumers in Canada and other markets. We are excited about what we can accomplish together and the ways we can help support the wellbeing of our customers through every stage of their sleep wellness journey." Continuing to Serve Customers in Stores and Online Throughout this process, Sleep Number fully expects to continue serving customers: * Sleep Number stores are open and operating during their regular business hours. * The company's online channel, SleepNumber.com, is accepting new orders. * The company is fulfilling and delivering orders, standing behind its 100-night trial and honoring its warranties, gift cards and Sleep Number Reward points and store credits. * The infrastructure supporting Sleep Number's connected smart beds and App will remain operational as they are today. * Customers can continue to reach customer service and home delivery teams through all normal support channels. Sleep Number is also continuing its turnaround strategy to spur growth and increase financial resilience. The company recently completed the largest product redesign in nearly a decade, launched its first major integrated marketing campaign in years, and continues to right-size the fixed cost base. Additional Information Regarding the Court Supervised Process Sleep Number initiated a voluntary Chapter 11 sale process in the U.S. Bankruptcy Court for the District of New York. The transaction is being undertaken pursuant to Section 363 of the U.S. Bankruptcy Code. As part of this process, Sleep Country Canada will serve as the "stalking horse" bidder in a court-supervised sale process. Accordingly, the proposed transaction is subject to higher and better offers, Court approval and other closing conditions. Sleep Number expects to secure up to $260 million of debtor-in-possession financing, including up to $65 million in new financing. Following court approval, this DIP financing, combined with cash generated from Sleep Number's ongoing operations, is expected to support the business during the court-supervised process. The company has filed a number of customary motions seeking Court authorization to support its operations during the court-supervised process, including the payment of employee wages and benefits without interruption. Sleep Number fully expects to pay suppliers for goods and services provided after the filing date. Sleep Number has already been undertaking a review of its store footprint and, in connection with this process, the company will continue this work with the intention of maintaining as many retail locations as possible based on profitability. A&G Real Estate Partners is assisting the company with this effort. In connection with the start of the court-supervised process, Sleep Number has filed a motion with the Court to reject leases of 44 non-operational locations, which were already closed and not serving customers. Additional information regarding the court-supervised sale process is available at forward.sleepnumber.com. Court filings and other information related to the proceedings are available on a separate website administered by the company's claims agent, Kroll, at https://restructuring.ra.kroll.com/SleepNumber, by calling toll-free at (844) 408-3387 (or +1 (646) 825-3128 for calls originating outside of the U.S.), or by sending an email to SleepNumberInfo@ra.kroll.com. Advisors Sleep Number is advised by Davis Polk & Wardwell LLP as legal advisor, Guggenheim Securities, LLC as investment banker, AP Services, an affiliate of AlixPartners, as interim management and Joele Frank, Wilkinson Brimmer Katcher as strategic communications advisor. Sleep Country Canada is advised by Goodwin Procter LLP as legal advisor and PwC as financial advisor. About Sleep Number Corp. Sleep Number Corp., based in Minneapolis, Minnesota, is a leader in personalized sleep wellness. Its mattresses are designed to evolve with each sleeper to help them feel and perform their best. With adjustable firmness, pressure-relieving support, and temperature-balancing comfort built into every mattress, Sleep Number beds adapt to customers' changing needs, night after night, year after year. As of December 31, 2025, the Company had $680.06 million in total assets, $1.26 billion in total liabilities, and $578.48 million in total shareholders' deficit. STARDOM CONSTRUCTION: Joseph Moore Named Subchapter V Trustee ------------------------------------------------------------- The Acting U.S. Trustee for Region 5 appointed Joseph Richard Moore as Subchapter V trustee for Stardom Construction L.L.C. Mr. Moore will be paid an hourly fee of $350 for his services as Subchapter V trustee and an hourly fee of $110 for his legal assistant. In addition, Mr. Moore will receive reimbursement for work-related expenses incurred. Mr. Moore declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Joseph Richard Moore 200 Washington Street Monroe, LA 71201 (318) 322-6232 Email: subv@eorumyoung.com About Stardom Construction L.L.C. Stardom Construction, L.L.C. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. La. 26-80399) on June 11, 2026, with $50,001 to $100,000 in assets and $100,001 to $500,000 in liabilities. Judge Stephen D. Wheelis presides over the case. Thomas R. Willson, Esq., at Rocky Willson represents the Debtor as legal counsel. SUNDAE DONUTS: Initiates Chapter 7 Bankruptcy in New York --------------------------------------------------------- On June 3, 2026, Sundae Donuts LLC filed for Chapter 7 protection in the U.S. Bankruptcy Court for the Eastern District of New York. According to court filings, the debtor reports between $100,001 and $1,000,000 in debt owed to 1–49 creditors. About Sundae Donuts LLC Sundae Donuts LLC is a food service company engaged in the sale of donuts, baked goods, and related food products. The company sought relief under Chapter 7 of the U.S. Bankruptcy Code (Bankr. Case No. 26-72260) on June 3, 2026. In its petition, the debtor reported estimated assets ranging from $0 to $100,000 and estimated liabilities ranging from $100,001 to $1,000,000. Honorable Bankruptcy Judge Sheryl P. Giugliano handles the case. The debtor is represented by Mark E. Cohen, Esq. SUPERIOR FAMILY: Claims to be Paid from Property Refinance ---------------------------------------------------------- Superior Family Investments Corp, filed with the U.S. Bankruptcy Court for the Western District of Missouri a Plan of Reorganization for Small Business dated June 9, 2026. The Debtor's business was organized for the purpose of buying and selling real estate. Debtor owns three real properties. The properties are occupied. Debtor is not receiving rent from any property. The Debtor has not been generating revenue because it is not receiving rent from its tenants. The bankruptcy was filed to stop a foreclosure sale on the property in Kansas City, MO. Debtor has continued to not receive revenue since the filing of the bankruptcy case. The case was filed to stop a foreclosure in Kansas City, MO. The plan will be funded by Debtor obtaining refinancing from a private lender. Debtor is anticipating receiving $1,250,000. The intention is to turn the real property in Kansas City, MO into a ten-bed teen group home. The property is approximately 90% renovated. The funds obtained will be used to fully pay the debt owed to the lienholders of the three mortgages securing Debtor’s three real properties, plus full payment of any unpaid real property taxes due ($876,000 estimated combined balances). The remaining funds will be used for closing costs, repairs, and project activation costs. Once the home is ready for its intended use, Debtor estimates receiving between $36,500 per month to $45,625 per month of revenue, depending on whether the group home is 85% or 100% occupied, based on a rate of $150 daily per bed, with payments made by the Missouri DSS / Children's Division. Director, Cedric Vann, will not be paid on his unsecured claim and will withdraw his claim. Class 4 consists of General Unsecured Claims. No funds to pay general unsecured creditors. Cedric Vann shall retain his equity interest. The plan will be funded by Debtor obtaining refinancing from a private lender. Debtor is anticipating receiving $1,250,000. The intention is to turn the real property in Kansas City, MO into a ten-bed teen group home. The property is approximately 90% renovated. The financing will be used as follows: $864,076 to pay off the balance on three existing mortgages and any unpaid real property tax liens; the rest of the funds to be used for project activation (including repairs, licensing and background checks, furnishings, insurance, staff recruitment, purchase of passenger van for resident transportation), payroll stabilization reserve, lender closing and title fees, and controlled reserve. The Debtor must submit all or such portion of the future earnings or other future income of the Debtor to the supervision and control of the Trustee as is necessary for the execution of the Plan. A full-text copy of the Plan of Reorganization dated June 9, 2026 is available at https://urlcurt.com/u?l=EOI6Rc from PacerMonitor.com at no charge. Counsel to the Debtor: Gary Mardian, Esq. Wiesner & Frackowiak, LC 6750 West 93rd Street, Ste. 220 Overland Park, KS 66212 Tel: (913) 381-7654 Fax: (913) 383-3948 Email: garym@wflaw.net About Superior Family Investments Corp. Superior Family Investments Corp., was organized for the purpose of buying and selling real estate. The Debtor filed a Chapter 11 bankruptcy petition (Bankr. W.D. Mo. Case No. 5:26-bk-50082) on March 11, 2026. At the time of filing, the Debtor estimated $500,001 to $1 million in both assets and liabilities. Judge Cynthia A Norton presides over the case. The Debtor tapped Wiesner & Frackowiak, LC as counsel. THRILL INTERMEDIATE: MTV Reaches $150MM Bankruptcy Agreement ------------------------------------------------------------ Alex Wolf of Bloomberg Law reports that Rob Dyrdek and other creators of Ridiculousness are set to receive more than $150 million under a sweeping settlement reached in the Chapter 11 cases of the show's production company. Court papers filed in Nevada detail an agreement designed to resolve several disputes that arose during the restructuring process. The debtors, Thrill Intermediate LLC and affiliated companies, produced the MTV series throughout its 14-year history. Since filing for bankruptcy protection, the companies have faced multiple claims and disagreements involving stakeholders connected to the show and its underlying business operations, according to report. Under the proposed global resolution, numerous outstanding disputes will be settled through a single agreement. The deal is expected to simplify the bankruptcy cases, reduce uncertainty, and help the debtors advance their restructuring efforts while addressing claims from key parties. About Thrill Intermediate LLC Thrill Intermediate, LLC, a Las Vegas-based holding company, through its direct and indirect wholly owned subsidiaries, creates and produces television content and has at times produced live entertainment events, most notably the MTV show Ridiculousness, a 30-minute studio clip show where host Rob Dyrdek and co-hosts comment on viral videos featuring stunts, mishaps, and everyday chaos, which constitutes roughly half of MTV's programming. The Company also manages subsidiaries involved in media production, digital marketing, event management, and intellectual property. Thrill Intermediate and its affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Nev. Case No. 25-15714) on September 28, 2025. In its petition, Thrill Intermediate disclosed estimated assets between $50 million and $100 million and estimated liabilities between $100 million and $500 million. Honorable Bankruptcy Judge Mike K. Nakagawa handles the cases. The Debtors tapped Gregory E. Garman, Esq., at Garman Turner Gordon, LLP as counsel and Force Ten Partners, LLC as restructuring advisor. Stretto, Inc. is the Debtors' claims, noticing, and solicitation agent. TM36 LLC: IAG Loses Bid to Dismiss Stoploss, et al. Adversary Case ------------------------------------------------------------------ Judge Alfredo R. Perez of the U.S. Bankruptcy Court for the Southern District of Texas denied the motion of Insured Advocacy Group, LLC ("IAG I") and Insured Advocacy Group II, LLC ("IAG II," and collectively "IAG") to dismiss the adversary complaint captioned as STOPLOSS SPECIALISTS, LLC, et al., Plaintiffs, VS. INSURED ADVOCACY GROUP, LLC, et al., Defendants, ADVERSARY NO. 26-3072 (Bankr. S.D. Tex.). The adversary complaint was filed by Plaintiffs, StopLoss Specialists, LLC ("Specialists") and StopLoss, LLC (collectively, "StopLoss"). IAG moves to dismiss under Rule 12(b)(6) of the Federal Rules of Civil Procedure for failure to state a claim upon which relief can be granted. StopLoss is engaged in the business of emergency response and property restoration services. StopLoss, LLC was created in 2023 as a joint venture between Specialists and Command 247, LLC. In August 2023, Specialists and IAG I entered into a contract titled the "First Party Claims Non-Recourse Sale and Assignment Agreement" (the "Factoring Agreement"). The contract is a type of factoring agreement wherein Specialists agreed to sell certain accounts receivable it expected to receive in the future to IAG at a discount in exchange for immediate cash. IAG does not dispute that it entered into the Factoring Agreement. In October 2024, Specialists entered into a restoration contract with GrayStreet Management Services, LLC ("GrayStreet") to remediate damage to the Renaissance Tower, a fifty-six-story skyscraper in Dallas, Texas. StopLoss alleges that IAG introduced it to the Renaissance Tower project, encouraged it to procure this restoration contract, and committed to financing the project if StopLoss could secure the contract. StopLoss anticipated that it would incur around $400 million in expenses to complete the Renaissance Tower project. To finance their work on the project, Specialists sought to obtain funds from IAG by selling accounts receivable from the Renaissance Tower project under the Factoring Agreement. StopLoss alleges that in December 2024, it and IAG executed a purchase addendum wherein IAG agreed to purchase over $5 million of Specialists' accounts receivable from the Renaissance Tower project. It also alleges that in reliance on IAG's commitment to purchase over $5 million of its accounts receivable, it spent millions of dollars on the Renaissance Tower project. IAG never made any payments to StopLoss related to the Renaissance Tower project. And IAG does not dispute that no payments were ever made. StopLoss contends that IAG's non-payment forced it to stop all work on the Renaissance Tower while it sought alternative financing. After StopLoss and an alternative financier executed a term sheet, StopLoss alleges that IAG communicated to both it and the alternative financier that IAG intended to fund the project so that work could resume on the Renaissance Tower project, which caused the alternative financier to cease negotiations with StopLoss. However, even after these alleged discussions, StopLoss did not receive any funds from IAG. Because StopLoss was unable to procure funding and resume work on the Renaissance Tower project, GrayStreet terminated its contract with StopLoss. StopLoss alleges that the termination agreement specifically identifies IAG's failure to fund the project as a basis for termination. StopLoss contends that IAG's failure to pay caused it to lose its anticipated profits from the Renaissance Tower project, caused it to lose other projects, and significantly contributed to its eventual bankruptcy. On March 12, 2026, StopLoss commenced this adversary proceeding. StopLoss's adversary complaint contains two causes of action under Texas law: (i) breach of contract; and (ii) tortious interference with contract. IAG moves to dismiss this adversary proceeding, contending that StopLoss and IAG never entered into any contract that obligated IAG to finance StopLoss's work on the Renaissance Tower project. IAG argues that on December 13, 2024 -- the date which the purchase addendum related to the Renaissance Tower project was sent to StopLoss -- IAG informed StopLoss that all future transactions would be governed by the terms of a Contractor Reimbursement Agreement ("CRA"), an Application Agreement, and would require execution of personal guarantees by StopLoss's principals. IAG contends that these documents were never executed and that execution of the CRA, Application Agreement, and personal guarantees were conditions precedent to the effectiveness of the purchase addendum. Thus, they argue that StopLoss's complaint fails to state a claim for breach of contract because no contract to purchase accounts receivable related the Renaissance Tower project was ever formed. Additionally, IAG contends that StopLoss's tortious interference claim is "premised entirely" on StopLoss's breach of contract claim and similarly fails to state a claim. The Court disagrees. The Court finds in this case, StopLoss's complaint contains sufficient factual allegations, accepted as true, to state a plausible claim for relief for breach of contract. The Court finds StopLoss's complaint also plausibly alleges a claim for tortious interference with contract. the allegations in StopLoss's complaint, accepted as true, provide sufficient facts for the Court to draw the reasonable inference that IAG may have tortiously interfered with the GrayStreet restoration contract. A copy of the Court's Order dated June 15, 2026, is available at https://urlcurt.com/u?l=CQf2gK from PacerMonitor.com. About TM36 LLC TM36, LLC, StopLoss, LLC, StopLoss Logistics, LLC, StopLoss Specialists, LLC, and StopLoss Response Services, LLC provide emergency response and property restoration services focused primarily on large commercial buildings that have sustained significant disaster or weather-related damage. StopLoss LLC functions as the holding company for StopLoss Response Services, LLC, StopLoss Logistics, LLC, and TM36 LLC, while StopLoss Specialists, LLC holds contractor licenses and enters into project contracts. The subsidiaries support project execution through subcontracted restoration work, equipment logistics and transportation, and ownership of operational equipment. The Debtors sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Texas Lead Case No. 26-90386) on March 5, 2026. In the petition signed by Pablo Bonjour, chief restructuring officer, TM36 disclosed up to $10 million in both assets and liabilities. Judge Alfredo R. Perez oversees the cases. The Debtors tapped Aaron J. Power, Esq., at Porter Hedges, LLP, as bankruptcy counsel and Veritas Restructuring Group as financial advisor. On April 24, 2026, the Office of the United States Trustee for Region 7 appointed an official committee of unsecured creditors in these Chapter 11 cases. The committee tapped Dykema Gossett, PLLC as counsel. TODD CREEK: Andrew Johnson's Appointment as Chapter 11 Trustee OK'd ------------------------------------------------------------------- Judge Kimberley Tyson of the U.S. Bankruptcy Court for the District of Colorado approved the appointment of Andrew Johnson, Esq., as Chapter 11 trustee for Todd Creek Farms Home Owners Association, Inc. Mr. Johnson, a practicing attorney in Denver, Colo., was appointed on June 10 by the U.S. Trustee for Region 19, the Justice Department's bankruptcy watchdog overseeing the association's Chapter 11 case. The appointment followed a May 28 court order granting the stipulated motion to appoint an independent trustee jointly filed by Todd Creek Farms and several homeowners. In a court filing, Mr. Johnson disclosed that he has no connection with the association, creditors and other "parties in interest." Mr. Johnson may be reached through: Andew D. Johnson, Esq. 1801 California, Suite 2400 Denver, CO 80202 Phone: 303-512-1123 ajohnson@OFJlaw.com About Todd Creek Farms Home Owners Association Todd Creek Farms Home Owners Association Inc. is a residential community management organization that oversees common areas, enforces covenants, and provides services to homeowners in the Todd Creek Farms development. Todd Creek Farms Home Owners Association Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Col. Case No. 25-14385) on July 1, 2025. In its petition, the Debtor reports estimated assets between $500,000 and $1 million and estimated liabilities between $100,000 and $500,000. Honorable Bankruptcy Judge Kimberley H. Tyson handles the case. The Debtors are represented by Jeffrey Weinman, Esq. at Allen Vellone Wolf Helfrich & Factor P.C. TROVE BREWING: Gets OK to Use $28K in Cash Collateral ----------------------------------------------------- Trove Brewing, LLC received interim approval from the U.S. Bankruptcy Court for the District of Minnesota to use cash collateral. Under the interim order, the Debtor is authorized to use up to $28,000 in cash collateral through July 9 based on a court-approved budget. The Debtor needs immediate access to cash collateral to fund business operations, including paying employees, insurance premiums, utilities, and other routine operating expenses. The secured creditors that may have interest in the cash collateral are Choice Bank and North Star Leasing, a Division of Peoples Bank. Choice Bank, whose loan to the Debtor is guaranteed by the U.S. Small Business Administration, holds a blanket lien on substantially all of the Debtor's personal property, including deposit accounts. It is owed approximately $615,000 as of the bankruptcy filing date. Meanwhile, North Star Leasing financed the Debtor's purchase of kegs and holds a security interest limited to those kegs. The Debtor held approximately $5,786 in cash and deposit accounts on the bankruptcy filing date. By the time of the final hearing, the Debtor expects cash balances to increase to approximately $21,000, with an estimated balance of about $20,000 remaining by Sept. 30. The Debtor expects cash levels to fluctuate due to the timing of payroll, rent, and other major expenses. In addition, the Debtor maintains an inventory of 45 kegs of finished product, which it expects to remain relatively stable throughout the interim period. The order is available at https://is.gd/yjnVeM from PacerMonitor.com. About Trove Brewing LLC Trove Brewing, LLC filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. D. Minn. Case No. 26-31864) on June 3, 2026, with up to $100,000 in assets and up to $1 million in liabilities. Angela Crane, company owner, signed the petition. Judge Katherine A. Constantine oversees the case. Mary Sieling, Esq., at Sieling Law, PLLC, represents the Debtor as legal counsel. The U.S. Trustee for Region 12 appointed Steven Nosek, Esq., as Subchapter V trustee for the Debtor. TW ELECTRIC: Court Extends Cash Collateral Access to July 14 ------------------------------------------------------------ TW Electric Service, Inc. received fifth 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 court authorized the Debtor to use cash collateral in accordance with its budget until the earlier of July 14 or upon termination of the interim order or filing of a notice of default. The Debtor projects total operational expenses of $105,551.49 for July. As protection, the U.S. Small Business Administration and CT Corporation System, as representative of an unidentified secured creditor, will be granted post-petition replacement liens on their collateral including post-petition assets, with the same validity, priority, and enforceability as their pre-bankruptcy liens. The replacement liens are subject to and subordinate to a carveout for the payment of allowed professional fees and disbursements incurred by court-approved professionals. Both the SBA and CT Corporation System asserting security interests in the Debtor's assets. Certain proceeds from the Debtor's operations are claimed as cash collateral by these creditors. The next hearing is set for July 14. The order is available at https://shorturl.at/UJxc8 from PacerMonitor.com. About TW Electric Service Inc. TW Electric Service, Inc. is a family-owned electrical contracting company based in Benson, North Carolina. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. N.C. Case No. 26-00840-5-PWM) on February 25, 2026. In the petition signed by Terry Wood, president, the Debtor disclosed up to $100,000 in assets and up to $500,000 in liabilities. Judge Pamela W. McAfee oversees the case. Rebecca Redwine Grow, Esq., at Hendren, Redwine & Malone, PLLC, represents the Debtor as legal counsel. ULTINON MOTION: Disclosure Statement Wins Conditional Approval -------------------------------------------------------------- Judge Christopher Lopez of the U.S. Bankruptcy Court for the Southern District of Texas conditionally approved the Disclosure Statement for the Plan of Liquidation of Ultinon Motion Holding B.V. and its Affiliated Debtors under Chapter 11 of the Bankruptcy Code. The Disclosure Statement is conditionally approved as containing adequate information in accordance with section 1125 of the Bankruptcy Code and is subject to final approval of the Court at the Combined Hearing. The Debtors' request for a Combined Hearing on the final approval of the Disclosure Statement and confirmation of the Plan, and the following Confirmation Schedule, are approved: * Voting Record Date - June 15, 2026 * Solicitation and Notice Deadline - Within three business days following entry of the Order, or as soon as reasonably practicable thereafter * 3018 Motion Deadline - July 6, 2026 at 4:00 p.m. (prevailing Central Time) * Deadline for Filing Initial Plan Supplement - July 10, 2026 * Voting and Opt-In Deadline - July 17, 2026 at 4:00 p.m. (prevailing Central Time) * Combined Plan and Disclosure Statement Objection Deadline - July 17, 2026 at 4:00 p.m. (prevailing Central Time) * Deadline for Filing Confirmation Brief, Reply and Voting Report - July 22, 2026 * Combined Hearing on the Disclosure Statement and Plan - July 24, 2026 at 10:00 a.m. (prevailing Central Time) A copy of the Court's Order dated June 16, 2026, is available at https://urlcurt.com/u?l=uUdFL5 from PacerMonitor.com. About Ultinon Motion Holding B.V. Ultinon Motion Holding B.V. sought protection under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Tex. Case No. 26-90428) on March 26, 2026. At the time of the filing, the Debtor estimated assets of between $50,000,001 and $100 million and liabilities of between $50,000,001 and $100 million. Judge Christopher M. Lopez oversees the case. Clifford Chance US LLP is the Debtor's legal counsel. UMZU LLC: Hearing Today on Bid to Use Cash Collateral ----------------------------------------------------- The U.S. Bankruptcy Court for the Central District of California is set to hold a hearing today to consider extending UMZU, LLC's authority to use cash collateral. The Debtor's authority to use cash collateral under the court's June 10 interim order expires on June 26. The June 10 interim order increased the Debtor's authorized cash collateral use by $350,000, bringing the total approved amount to $876,133. UMZU operates an e-commerce supplement business that sells products primarily through its website and Amazon. It relies heavily on third-party manufacturer WB Blends and fulfillment providers to maintain inventory and ship products. Both vendors had threatened to halt services unless overdue balances were paid, prompting UMZU to seek authority to treat them as critical vendors. The Debtor also stressed the importance of maintaining advertising access through Meta Platforms (Facebook and Instagram), which it described as essential to customer acquisition and revenue generation. UMZU owed Meta more than $829,000 prepetition and sought approval for a structured repayment plan. UMZU attributed its financial distress to founder disputes, litigation, and costly debt from merchant cash advances. Despite operational improvements in 2025 that restored positive operating income, the Debtor said Chapter 11 restructuring is needed to preserve its customer base, intellectual property, and going-concern value. About UMZU LLC UMZU, LLC operates an e-commerce supplement business that sells products primarily through its website and Amazon. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Cal. Case No. 2:26-bk-14886) on May 18, 2026. In the petition signed by Michael Dobson, chief executive officer, the Debtor disclosed up to $10 million in both assets and liabilities. Judge Sheri Bluebond oversees the case. Matthew D. Resnik, Esq., at RHM Law, LLP, represents the Debtor as legal counsel. UNIVERSAL WIRELESS: Commences Chapter 7 Bankruptcy in Texas ----------------------------------------------------------- On June 3, 2026, Universal Wireless, LLC filed for Chapter 7 protection in the U.S. Bankruptcy Court for the Western District of Texas. According to court filings, the debtor reports between $100,001 and $1,000,000 in debt owed to 1–49 creditors. A meeting of creditors under Section 341(a) to be held on June 29, 2026 at 09:00 AM at Zoom - Lowe: Meeting ID 6657174178, Passcode 3258264599, OR call 830-542-7284. About Universal Wireless, LLC Universal Wireless, LLC is a telecommunications retail and services company engaged in the sale of wireless devices, mobile phone plans, and related accessories. The company sought relief under Chapter 7 of the U.S. Bankruptcy Code (Bankr. Case No. 26-30815) on June 3, 2026. In its petition, the debtor reported estimated assets ranging from $0 to $100,000 and estimated liabilities ranging from $100,001 to $1,000,000. Honorable Bankruptcy Judge Christopher G. Bradley handles the case. The debtor is represented by Cheryl S. Davis, Esq., of The Law Offices Of Cheryl S. Davis, P.C. VIOLET'S PUPPIES: Gets Final OK to Use Cash Collateral ------------------------------------------------------ Violet's Puppies, LLC received final approval from the United States Bankruptcy Court for the Southern District of Florida, Fort Lauderdale Division, to use cash collateral. Under the final order, the Debtor is authorized to use cash collateral through July 31to pay ordinary operating expenses in accordance with its approved budget. Any lender holding a valid, perfected, and enforceable pre-petition lien will be granted continuing liens on the same collateral that secured its pre-petition claim, as well as replacement liens on certain post-petition assets to the extent necessary to protect against any diminution in collateral value. These liens are automatically perfected without additional filings but do not attach to avoidance actions or related Chapter 5 claims. The Debtor expressly preserved its right to challenge the validity, priority, extent, or enforceability of any lender's liens or claims. As additional protection, the Debtor must maintain insurance on collateral and provide monthly operating reports to lenders upon written request. The order establishes carveouts that take priority over lender protections, including unpaid court fees, approved fees and expenses of Debtor's counsel, and fees and costs incurred by the Subchapter V trustee. The Debtor's authority to use cash collateral continues through July 31, unless terminated earlier by court order or an event of default. Default events include material noncompliance with the order, unauthorized post-petition liens, appointment of a trustee other than the existing Subchapter V trustee, or conversion of the case to Chapter 7. Upon default, lenders may seek expedited relief from the automatic stay after 72 hours' notice, although the Debtor retains the right to oppose such relief and seek continued authorization to use cash collateral. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/t7MrE from PacerMonitor.com. About Violet's Puppies LLC Violet's Puppies, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 26-16067) on May 11, 2026. In the petition signed by Stefani Victor, authorized member, the Debtor disclosed up to $10 million in both assets and liabilities. Aleida Martinez Molina, Esq., serves as Subchapter V trustee for the Debtor. Michael D. Seese, Esq., at Seese, P.A., represents the Debtor as legal counsel. VIVAKOR INC: Noteholders Convert Debt Into 2.44 Million Shares -------------------------------------------------------------- Vivakor, Inc. issued 2,444,447 common shares after holders and lenders converted a combined $663,188 due under convertible promissory notes, according to a Form 8-K filing with the Securities and Exchange Commission. The company said one holder converted $175,200 into 600,000 shares after notices dated June 12 and June 16. Several lenders converted $487,988 into 1,844,447 shares after notices dated June 17. Vivakor also furnished press releases announcing crude-oil transactions tied to its midstream infrastructure. One Bakken transaction covers about 120,000 barrels of crude oil per month under a one-year arrangement scheduled to run from July 1, 2026, through June 30, 2027. A separate Permian Basin arrangement covers about 2,000 barrels of crude oil per day and is scheduled to start July 1 under a one-month evergreen agreement. Vivakor said the Permian transaction is expected to represent about $54.00 million in annualized gross revenue, bringing announced annualized contracted revenue opportunities to more than $323.00 million based on current pricing assumptions and expected volumes. About Vivakor, Inc. Vivakor, Inc. provides crude-oil transportation, logistics, terminaling, storage, supply and trading services. The company supports crude-oil movement from production areas to market hubs across the Permian Basin, Eagle Ford Basin and mid-continent regions, with operations including trucking, pipeline transportation, crude-oil terminals, storage and blending facilities, and marketing and resale of crude oil, condensate, natural gas liquids and related hydrocarbon products. Vivakor's latest annual report included going-concern language in an auditor report for the year ended Dec. 31, 2025. Urish Popeck & Co., LLC cited a significant working capital deficiency, significant recurring losses from operations and the need to raise additional funds to meet obligations and sustain operations, and said those conditions raised substantial doubt about the company's ability to continue as a going concern. As of March 31, 2026, Vivakor reported total assets of $111.79 million, total liabilities of $78.15 million and total stockholders' equity of $33.64 million. WALLACE FINANCE: UCC Public Sale Secured for August 17, 2026 ------------------------------------------------------------ In accordance with applicable provisions of the Uniform Commercial Code as enacted in New York ("NYUCC"), Variant Alternative Income Fund ("Secured Party"), a Delaware statutory trust, will sell certain collateral, including without limitation, loans Wallace Finance LLC and Wallace Management Co. LLC originated that are subject to a participation agreement with Bundled Up LLC, all contracts, agreements and documents relating exclusively or primarily to such loans and all proceeds and products of the foregoing and all accessions to, substitutions and replacements for, and rents and profits of, each of the foregoing, (the "Collateral") at a public sale in accordance with the NYUCC. The sale will take place at 3:00 p.m. EDT on August 17, 2026, via Zoom, as well as in person at Kleinberg, Kaplan, Wolff & Cohen, PC. located at 500 Fifth Avenue, 38th Floor, New York, New York 10110, Attention: Mary Kuan, Esq. Remote log-in credentials will be provided to registered bidders upon request. The Collateral will be sold to the highest Qualified Bidder, as that term is defined in the Terms of Sale attached to the Notice of Disposition, dated May 29, 2026; provided, however, that Secured Party reserves the right, in accordance with the NYUCC, prior to the auction date to cancel the sale in its entirety, or to adjourn the sale to a future date, or to or modify, waive or amend any terms or conditions of the auction or impose any other terms or conditions on the auction and, if Secured Party, or an affiliate of Secured Party, deems appropriate, to reject any or all bids or to continue the auction to such time and place as Secured Party, or an affiliate of Secured Party, in its sole and absolute discretion, may deem fit. The sale will be conducted by Mannion Auctions, LLC, by Matthew D. Mannion, Auctioneer, with an office at 299 Broadway, Suite 1601, New York, New York 10007. The Collateral will be sold as a block and will not be divided or sold in any lesser amounts. Interested parties that intend to bid on the Collateral should contact Secured Party's counsel, Mary Kuan, Esq. at (212) 880-9833 or mkuan@kkwc.com to receive the Terms of Sale (which are also attached to the Notice of Disposition) and bidding instructions. Upon execution of a Terms of Access and Non-Disclosure Agreement, in a form to be provided by counsel for Secured Party, additional documentation and information will be available. Interested parties that are not Qualified Bidders, as that term is defined in the Terms of Sale, and who are not interested in bidding at least $10,000,000 will not be permitted to enter a bid. WESTPORT FUEL: Cespira, Volvo Sign Hydrogen Engine Deal ------------------------------------------------------- Cespira, Westport Fuel Systems Inc.'s joint venture with Volvo Group, signed a development agreement with Volvo Group to finalize commercialization of hydrogen-fueled 13-liter engines, Westport said in a Form 6-K. The agreement covers final development and commercialization work to integrate Cespira's HPDI fuel-system technology so Volvo Group's 13-liter engine platform can run on hydrogen. Westport said European certified commercial launch is targeted before 2030. Westport said Volvo trucks using the technology are in on-road testing. Cespira's HPDI system enables direct injection of alternative fuels at high pressure into internal combustion engines and is designed to deliver diesel-equivalent performance using hydrogen. Carlos Gonzalez, president and chief executive of Cespira, said Hydrogen HPDI is the next phase of the company's HPDI fuel-system strategy. About Westport Fuel Systems Westport Fuel Systems Inc. is a Vancouver, Canada-based technology and innovation company that designs, manufactures and supplies alternative-fuel, low-emissions transportation technologies. Its technologies support natural gas, renewable natural gas and hydrogen for OEM and commercial transportation customers. Westport's product offerings are sold under its AFS and GFI brands and through Cespira, a joint venture with Volvo, and include high-pressure controls and HPDI fuel-system technology for transportation and industrial applications. In an audit report dated April 23, 2026, KPMG LLP included a going concern qualification, citing recurring losses from operations and projected capital expenditures, debt-servicing obligations and operating requirements under the current business plan that are expected to result in insufficient cash flows. The conditions raised substantial doubt about Westport's ability to continue as a going concern. As of Dec. 31, 2025, the company reported total assets of $94.01 million, total liabilities of $25.20 million and total stockholders' equity of $68.81 million. WORKFORCE RESOURCE: M. Douglas Flahaut Named Subchapter V Trustee ----------------------------------------------------------------- The U.S. Trustee for Region 16 appointed M. Douglas Flahaut as Subchapter V trustee for Workforce Resource & Management Group, LLC. Mr. Flahaut will be paid an hourly fee of $680 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. The compensation for paraprofessional Fritz Meier is $185 per hour. Mr. Flahaut declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: M. Douglas Flahaut ArentFox Schiff LLP | Attorneys at Law Gas Company Tower 555 West Fifth Street, 48th Floor Los Angeles, California 90013 Telephone: (213) 443-7559 Facsimile: (213) 629-7401 Email: douglas.flahaut@afslaw.com About Workforce Resource & Management Group Workforce Resource & Management Group, LLC (Bankr. C.D. Calif. Case No. 26-15733) on June 8, 2026, with $100,001 to $500,000 in assets and $500,001 to $1 million in liabilities. Judge Neil W. Bason presides over the case. Frank J. Alvarado, Esq. at Alvarado Law represents the Debtor as legal counsel. WRENCHERS LLC: Seeks Cash Collateral Access ------------------------------------------- Wrenchers, LLC asks the U.S. Bankruptcy Court for the Eastern District of Michigan for authority to use cash collateral and provide adequate protection to secured creditors. Founded in 2009, the company was acquired in January 2022 by Patrick Allen Ackerman, an automotive industry veteran who significantly expanded the business. Under his ownership, the company grew from a four-employee operation generating roughly $400,000 annually into a fifteen-employee restoration shop with approximately $1.8 million in revenue during 2025. The company now offers a full range of restoration services, including mechanical work, body repair, upholstery, painting, and fabrication. The Debtor's financial difficulties stem largely from obligations inherited from the previous owner. These include unfinished customer projects for which substantial deposits had already been collected, costs associated with correcting defective work performed before the acquisition, significant investments needed to expand and equip the facility, and debts assumed as part of the purchase of the business. Together, these factors resulted in approximately $1.2 million in debt. The company's challenges were compounded in 2025 when two customers filed lawsuits against both the business and Mr. Ackerman personally, each seeking damages exceeding $400,000. Although Wrenchers disputes the claims and intends to defend them vigorously, the legal expenses have further strained finances. Since December 2025, the company has generated roughly $200,000 in monthly revenue, but debt service, operating expenses, and litigation costs have exceeded income, prompting the Chapter 11 filing. As of the bankruptcy filing, Wrenchers reported approximately $232,200 in assets, including about $41,000 in cash, $6,200 in accounts receivable, $10,000 in furniture and office equipment, and roughly $175,000 in shop equipment and tools such as vehicle lifts, forklifts, compressors, and restoration machinery. The company argues that its most valuable asset is its ongoing business operation, which supports fifteen employees and generates steady revenue. It contends that shutting down operations would destroy going-concern value, eliminate jobs, and significantly reduce recoveries for creditors. The Debtor identifies several creditors that may claim secured interests in the company's assets. JPMorgan Chase Bank holds a blanket lien securing approximately $68,206. The U.S. Small Business Administration claims a blanket lien securing roughly $90,000. Forward Financing asserts claims of approximately $90,269 secured by accounts, equipment, inventory, and related assets. OnDeck claims approximately $63,133 secured by substantially all business assets. CFG Merchant Solutions asserts a claim of roughly $20,437 related to accounts and general intangibles. Additionally, Toyota Industries Commercial Finance and Geneva Capital hold equipment-specific liens on forklifts, a lift, and an air compressor totaling more than $65,000, though these creditors do not assert interests in cash collateral. To support its request, Wrenchers submitted a 13-week operating budget covering June through August 2026. The budget projects revenues of approximately $643,550 and total operating expenses and cost of goods sold of about $599,348, resulting in positive net cash flow of roughly $44,202 and projected ending cash of approximately $85,202. As adequate protection for secured creditors, the Debtor proposes granting replacement liens on post-petition assets to the same extent and priority as any valid prepetition liens, but only to the extent that creditors suffer an actual decline in the value of their collateral due to the company's use of cash collateral. The Debtor maintains that this protection, combined with its projected positive cash flow, adequately safeguards creditors' interests while allowing the company to continue operating. A copy of the motion is available at https://urlcurt.com/u?l=HYwpjo from PacerMonitor.com. About Wrenchers, LLC Wrenchers, LLC ask is a Michigan-based automotive restoration business specializing in classic cars, hot rods, and muscle cars. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Mich. Case No. 26-46367-lsg) on June 2, 2026. In the petition signed by Patrick Ackerman, principal, the Debtor disclosed up to $500,000 in assets and up to $1 million in liabilities. Judge Lisa S. Gretchko oversees the case. Robert Bassel, Esq., represents the Debtor as legal counsel. [] ATTOM Reports Foreclosure Filings Down in May, Up Yearly ----------------------------------------------------------- ATTOM, the leading provider of property data, AI-powered intelligence, and real estate analytics solutions, has released its May 2026 U.S. Foreclosure Market Report, which shows there were a total of 40,355 U.S. properties with foreclosure filings -- default notices, scheduled auctions or bank repossessions -- down 5 percent from a month ago and up 14 percent from a year ago. "While foreclosure activity eased from April levels, the broader trend remains one of gradual year-over-year growth," said Rob Barber, CEO at ATTOM. "Foreclosure starts and completed foreclosures both increased compared to last year, reflecting ongoing pressure on some homeowners as elevated mortgage rates, rising ownership costs, and affordability constraints persist. At the same time, foreclosure volumes remain well below historical norms, indicating that the housing market continues to show resilience despite these challenges." Florida, South Carolina, and Maryland post worst foreclosure rates in May: One in every 3,562 housing units nationwide had a foreclosure filing in May 2026. Florida recorded the worst foreclosure rate in the country, with one in every 2,110 housing units with a foreclosure filing. South Carolina ranked second (one in every 2,287 housing units), followed by Maryland (one in every 2,369 housing units), Nevada (one in every 2,386 housing units), and Indiana (one in every 2,516 housing units). Among metro areas with populations of 2 million or more, Cleveland, OH recorded the worst foreclosure rate in May 2026, with one filing for every 1,524 housing units. Following Cleveland were Baltimore, MD (one in every 1,804); Tampa, FL (one in every 1,878); Riverside, CA (one in every 1,980 housing units); and Orlando, FL (one in every 2,034). Texas, Florida, and California top nation in foreclosure starts: Lenders initiated the foreclosure process on 27,304 U.S. properties in May 2026, down 4 percent from the previous month but up 13 percent from a year ago. Texas led the nation in foreclosure starts in May 2026 (3,590 foreclosure starts); followed by Florida (3,315 foreclosure starts); California (2,530 foreclosure starts); Georgia (1,161 foreclosure starts); and Illinois (1,150 foreclosure starts). Contrary to the national trend, among metropolitan areas with a population of at least 200,000 with at least 20 foreclosure starts, the following saw the largest year-over-year declines in foreclosure starts in May 2026: Santa Rosa, CA (decrease from 93 foreclosure starts in May 2025 to 21 in May 2026); Honolulu, HI (decrease from 68 to 30 foreclosure starts); Seattle, WA (decrease from 196 to 99 foreclosure starts); Visalia, CA (decrease from 39 to 22 foreclosure starts); and Greeley, CO (decrease from 78 to 45 foreclosure starts). Completed foreclosures remain elevated from a year ago: Lenders repossessed 4,092 U.S. properties through completed foreclosures (REOs) in May 2026, down 20 percent from the previous month but up 6 percent from a year ago. States with the highest number of REOs in May 2026 were Texas (519 REOs); California (427 REOs); Florida (340 REOs); Illinois (223 REOs); and Michigan (222 REOs). Those major metropolitan statistical areas (MSAs) with a population greater than 200,00 that saw the highest number of REOs in May 2026 included: Chicago, IL (204 REOs); Detroit, MI (124 REOs); Houston, TX (122 REOs); Dallas, TX (88 REOs); and New York, NY (84 REOs). Key highlights from the May 2026 foreclosure data: ATTOM's May 2026 U.S. Foreclosure Market Report found that 40,355 properties nationwide had a foreclosure filing, down 5 percent from April but up 14 percent from May 2025. The increase marks the continuation of a trend of rising foreclosure activity on an annual basis. Foreclosure starts climbed 13 percent year over year to 27,304, while completed foreclosures (REOs) rose 6 percent to 4,092. Despite these annual increases, overall foreclosure activity remains well below pre-pandemic levels. Report methodology The ATTOM U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing entered into the ATTOM Data Warehouse during the month and quarter. Some foreclosure filings entered into the database during the quarter may have been recorded in the previous quarter. Data is collected from more than 3,000 counties nationwide, and those counties account for more than 99 percent of the U.S. population. ATTOM's report incorporates documents filed in all three phases of foreclosure: Default -- Notice of Default (NOD) and Lis Pendens (LIS); Auction -- Notice of Trustee Sale and Notice of Foreclosure Sale (NTS and NFS); and Real Estate Owned, or REO properties (that have been foreclosed on and repurchased by a bank). For the annual, midyear and quarterly reports, if more than one type of foreclosure document is received for a property during the timeframe, only the most recent filing is counted in the report. The annual, midyear, quarterly and monthly reports all check if the same type of document was filed against a property previously. If so, and if that previous filing occurred within the estimated foreclosure timeframe for the state where the property is located, the report does not count the property in the current year, quarter or month. About ATTOM ATTOM delivers AI-driven property intelligence built on one of the nation's most trusted property data assets, covering 160 million U.S. properties--99% of the population. Our engineered, multi-sourced real estate data spans property tax, deeds, mortgages, foreclosure, environmental risk, property conditions, natural hazards, neighborhood insights, and geospatial boundaries, rigorously validated for advanced analytics. ATTOM supports analytics and AI-driven applications through flexible delivery options including APIs, bulk licensing, cloud delivery, and the MCP Server for AI-powered, agentic access to engineered property data--enabling organizations to automate analysis and scale property intelligence across industries. [] David Pankin Urges Relief as Bankruptcy Filings Climb in 2026 ---------------------------------------------------------------- David I. Pankin, Esq. a New York City bankruptcy attorney, is addressing the sharp rise in bankruptcy filings across the United States in 2025 and into 2026. Driven by persistent inflation, high housing costs, and record consumer debt, filings have reached multi-year highs, and Mr. Pankin is urging those struggling financially to explore their legal options. David I. Pankin, P.C. is a New York City bankruptcy law firm helping individuals and small businesses find debt relief. With extensive experience in consumer and commercial bankruptcy law, the firm provides personalized counsel to clients throughout the New York metropolitan area. U.S. bankruptcy filings rose 11% in 2025 compared to 2024, with the trend accelerating into 2026. Total credit card balances hit $1.233 trillion in Q3 2025, the highest since the New York Fed began tracking in 1999, as high housing costs and inflation continue to strain household finances. ABI February 2026 highlights (source: abi.org/newsroom/bankruptcy-statistics): * Total filings (all chapters): 45,891 -- up 14% from February 2025. * Commercial Chapter 11: 814 -- up 67%. * Total commercial filings: 2,666 -- up 21%. * Subchapter V small business elections: 314 -- up 91%. * Individual filings: 43,225 -- up 13%. Bankruptcy increases into 2026 suggest that financial strain is becoming more widespread. Total bankruptcy filings for years ending March 31, 2022-2026: * March 31, 2025 to March 31, 2026: 591,655 * March 31, 2024 to March 31, 2025: 528,804 * March 31, 2023 to March 31, 2024: 467,555 * March 31, 2022 to March 31, 2023: 403,168 * March 31, 2021 to March 31, 2022: 395,287 Source: uscourts.gov The Law Office of David I. Pankin, P.C. has represented New Yorkers facing financial hardship for almost three decades. The NY-based firm handles Chapter 7, Chapter 13, and Chapter 11 bankruptcies for individuals and businesses, serving clients across all five boroughs and surrounding areas. Attorney David Pankin evaluates each case individually to identify the most effective path to relief, whether through bankruptcy or an alternative strategy. David Pankin stated "These numbers reflect real hardship being felt by families and businesses across New York. Record credit card debt, high housing costs, and relentless inflation have pushed many people to the edge. What I want New Yorkers to know is that bankruptcy is not a failure, it's a legal right, and for many, the smartest step they can take. We're here to listen and help you find the right path forward.". If you are dealing with unmanageable debt, the Law Office of David I. Pankin, P.C. can help. Contact the firm for a free, confidential consultation. Visit www.debtlawyer.com to get started. About Law Offices of David I. Pankin, P.C. Since 1995, David Pankin, Esq. has been fighting for consumers and small business owners as a New York bankruptcy attorney serving New York City, Brooklyn, Staten Island, Queens, the Bronx, and Long Island. Over the past three decades, the Law Offices of David I. Pankin, P.C. has represented more than 15,000 clients across Chapter 7, Chapter 13, and Chapter 11 bankruptcy, foreclosure defense, loan modification, predatory lending, and other consumer protection matters. The firm has helped New Yorkers struggling with credit card balances and high-interest personal loans, those facing wage garnishments or frozen bank accounts, and homeowners who have fallen behind on their mortgage payments. Through every case, David Pankin and his legal team work diligently to help clients protect their rights and obtain a true financial fresh start. Press Contact David I. Pankin, P.C. Phone: (888) 664-1858 https://www.debtlawyer.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 ***