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260624.mbx T R O U B L E D C O M P A N Y R E P O R T E R Wednesday, June 24, 2026, Vol. 30, No. 175 Headlines 2421 3RD LLC: Seeks Chapter 7 Bankruptcy in New York 28 HOWARD: Commences Chapter 11 Bankruptcy in Maine 522 FIFTH VENTURE: Hires Sherrard Roe Voigt & Harbison as Counsel 7 MERRIEWOLD: Court Annuls Stay, Dismisses Bankruptcy Case 9486 HOLLY ROAD: Hires Ross LLP as Special Litigation Counsel A&C AUTOWORKS: Case Summary & 20 Largest Unsecured Creditors ABBEY GROUP: Hires Calaiaro Valencik as Bankruptcy Counsel ACCENDRA HEALTH: Moody's Rates New Secured First Lien Notes 'B2' ADDISON DENTAL: Case Summary & 18 Unsecured Creditors ADI GLOBAL: Moody's Affirms Ba3 CFR, Rates New $500MM Notes B1 ADVANCED INTEGRATION: S&P Withdraws 'B-' Issuer Credit Rating ADVANCED TREATMENT: Gets Extension to Access Cash Collateral AI ERA CORP: Appoints Mark Iwanowski as Non-Executive Vice Chairman ALLBOUND CARRIER: Hires Larry R. Davidson as Special Counsel ALLBOUND CARRIER: Hires Richard T. Granowsky as Special Counsel ALPINE CORP: Court OKs Continued Access to Cash Collateral ANDALINA PROPERTIES: Commences Chapter 11 Bankruptcy in Maine APEX ELECTRICAL: Unsecured Creditors to Split $13K over 3 Years ARBORICULTURAL SOLUTIONS: Court OKs Deal to Use Cash Collateral ARCADIA BIOSCIENCES: Raises $4M via Pre-Funded Warrants and Options ATARA BIOTHERAPEUTICS: Director Brian Cherry Reports 38,320 Shares ATLANTIC & PACIFIC: Court Issues Ruling in McKesson Specialty Case BACCI CAFE: Court Extends Cash Collateral Access to July 14 BESTWALL LLC: Opposes Trustee Appointment in Chapter 11 BIG DIGITAL: Endeavor Blockchain, Kilgore Hold 30% Combined Stake BITCOIN DEPOT: Hires Vinson & Elkins LLP as Bankruptcy Counsel BNC SPECIAL: Case Summary & Five Unsecured Creditors BREASHEARS ROOFING: Gets Interim OK to Use Cash Collateral BRIGHT SIDE: Hires Phillips & Thomas LLC as Bankruptcy Counsel BROOKFIELD PROPERTIES: Capital Group Closes $210MM L.A HQ Deal CHARLOTTE BUYER: Moody's Rates New $500MM Sr. Secured Notes 'B3' CHOICE ELECTRIC: Unsecureds to Get Share of Income for 5 Years CIMINO RE: Commences Chapter 11 Bankruptcy in New Jersey COCOBOWLZ LLC: Gets Final OK to Use Cash Collateral CORINTH AUTUMN: Trustee Taps Dechert LLP as Bankruptcy Counsel CRISP MOMENTUM: Net Loss Jumps to $4.6 Million in Fiscal Q3 CYPRESS BREWING: Hires Robert C. Nisenson as Bankruptcy Counsel D&Z MEDIA: Gets OK to Use Cash Collateral Until July 31 DEEJAYZOO LLC: Hires Cullen and Dykman LLP as Bankruptcy Counsel DIAMOND ELITE: Taps Law Offices of Mitchell J. Canter as Counsel DIGGERS EXCAVATION: Gets OK to Use Cash Collateral Until July 31 DIOCESE OF EL PASO: Hires Captivate Minds as Noticing Consultant DOLPHIN SHORES: Wins Interim Cash Collateral Access DYNAMIC TRANSPORT: Unsecureds to Split $250K via Quarterly Payments ENI DIST: Hires Lee Oh & Noh CPAs PLLC as Valuation Expert EQUIPMENTSHARE.COM INC: Moody's Rates New Second Lien Notes 'B3' FACILAI LLC: Hires Kornfield Nyberg Bendes Kuhner as Attorney FINCH PROPERTY: Cash Collateral Hearing Set for June 26 FINCH PROPERTY: Hires Bach Law Offices Inc as Bankruptcy Counsel FREEDOM FOREVER: Comm. Hires Dundon Advisers as Financial Advisor GLOBAL DAIRY: Case Summary & One Unsecured Creditor GREEN EAGLE CAPITAL: Commences Chapter 7 Bankruptcy GREENWAVE TECHNOLOGY: $21.6MM FY2025 Net Loss Flags Going Concern GRINNELL CENTER: Claims to be Paid from Continued Operation GROFF TRACTOR: Seeks to Extend Plan Exclusivity to Aug. 11 GULF SOUTH: Seeks to Tap Derbes Law Firm LLC as Bankruptcy Counsel HEALING WITH CAARE: Gets Extension to Access Cash Collateral HIGHLANDER HOTEL: Claims to be Paid from Continued Operation HNO INTERNATIONAL: Delays 10-Q Filing Due to Data Compilation HUDSON 1701/1706: Plan Exclusivity Period Extended to July 20 HUNDAL FARMS: Gets Extension to Use Cash Collateral INNOVATIVE INDUSTRIAL: Issues $402.5MM Exchangeable Senior Notes INTEGRATED PROTEINS: Comm. Taps Province LLC as Financial Advisor INTEGRATED PROTEINS: Committee Taps McDermott Will as Counsel INTERNATIONAL SUPPORT: Seeks to Extend Plan Exclusivity to Sept. 30 ITG COMMUNICATIONS: S&P Places 'B' ICR on Watch Pos on Planned IPO JSM PROPERTIES: Hires Joseph J. D'Agostino Jr. LLC as Counsel JUMP FINANCIAL: New Term Loan Add-on No Impact on Moody's Ba1 CFR K&M BROADCASTING: Gets OK to Use Cash Collateral Until July 31 LATITUDE DENG: Intervenor Wants to Appoint Forshee as Receiver LAW OFFICES OF J.B.: Case Summary & Five Unsecured Creditors LAW OFFICES OF JONATHAN: Case Summary & Five Unsecured Creditors LM FINLEY: Gets Interim OK to Use Cash Collateral Until July 31 LUMEXA IMAGING: S&P Rates New $823MM Repriced Term Loan B 'B+' MADISON ATRINA: Gets OK to Hire Sonora Real Estate as Realtor MARELLI AUTOMOTIVE: Plan Exclusivity Period Extended to Oct. 13 MCHUGH JUNK: Gets Final OK to Use Cash Collateral MEGA KYON: Court Extends Cash Collateral Access to Aug. 6 MIDWEST PHYSICIAN: S&P Rates New Senior Secured Term Loan 'B-' MIRO HOUSE: Case Summary & Six Unsecured Creditors MONARCH BAY: Hires Smith McDowell & Powell as Special Counsel MORNING LAVENDER: Case Summary & 20 Largest Unsecured Creditors NAVY PIER: Moody's Affirms Ba2 Revenue Bond Rating, Outlook Stable NBG MACHINE: Unsecured Creditors Out of Money in Sale Plan NEW HOPE: Seeks to Hire TrimnerBeckham PLLC as Accountant NEXT GENERATION: Hires Castleberry & Associates as Accountant NM SOUTH: Seeks to Hire Penn Law Firm as Local Bankruptcy Counsel OMEGA INVESTIGATION: Unsecureds Will Get 1.5% over 60 Months OPENLANE INC: S&P Raises ICR to 'B+' on Preferred Share Conversion OSMOSIS HOLDINGS: S&P Rates Proposed Revolving Credit Facility 'B' PHAIR COMPANY: Seeks to Tap Mojdehi Galvin Rego as General Counsel POWER REIT: Bradley & Daytona Group Reports 11.5% Stake PRECIPIO INC: Three Directors Elected, CBIZ Appointment Ratified PRESTIGE HEALTHCARE: Plan Exclusivity Period Extended to Sept. 28 QUANTUM CORP: Delays Annual Report for Year Ended March 31 QVC GROUP: Committee Hires Pachulski Stang Ziehl as Counsel RACE RANCH: Hires Summers Compton Wells as Bankruptcy Counsel RELEASE WELL-BEING: Case Summary & 20 Largest Unsecured Creditors ROGUEFOX ENTERTAINMENT: Gets Final OK to Use Cash Collateral ROSE WAY II: Voluntary Chapter 11 Case Summary RTB DIGITAL: CEO Discloses Stake, Options Assumed in Merger RTB DIGITAL: Director James Comer Reports 3.78M Share Stake SHOESTORE432 LLC: Seeks Chapter 7 Bankruptcy in Texas SIFI NETWORKS: Hires Stretto Inc. as Claims and Noticing Agent SIGNITIVES TECHNOLOGIES: Hires Sullivan Law as Litigation Counsel SOUTHERN POINTE: Voluntary Chapter 11 Case Summary STANDARD FORWARDING: Hires Jones & Walden LLC as Legal Counsel STEPADDY1959 LLC: Gets Interim OK to Use Cash Collateral SUPERPSYCHED LLC: Unsecureds to Get Share of Income for 48 Months TAWR PROPERTY: Claims to be Paid from Property Sale Proceeds TONIX PHARMACEUTICALS: Millennium Management Holds 5.6% Stake TOYIN STREET: Seeks to Hire Coldwell Banker as Real Estate Broker TRAVEL CORP: Moody's Lowers CFR to B2, Outlook Stable TUTOR PERINI: S&P Rates New $400MM Senior Unsecured Notes 'BB-' UNIQUE REALTY: Gets Final OK to Use CBTC's Cash Collateral UNIQUE REALTY: Gets Final OK to Use FNSB's Cash Collateral UPCYCLE LLC: Case Summary & Five Unsecured Creditors US MAGNESIUM: Unsecureds Will Get 5% to 16% in Committee's Plan USA MEDICAL: Unsecured Creditors to Split $5,800 over 3 Years VIKING BAKED: S&P Affirms 'B' ICR on Jimmy's Gourmet Purchase VIVAKOR INC: 2026 Annual Meeting Set for June 30 in Dallas, Texas VIVAKOR INC: Investor Converts $103K in Notes to 355,979 Shares W. GATES REAL: Gets Interim OK to Use Cash Collateral W. JACKSON TRUCKING: Unsecureds Will Get 100% over 5 Years W/L PROPERTIES: Gets OK to Use Cash Collateral Until Nov. 30 WEST RIDGE: Hires Hilco Real Estate and Onyx Asset as Realtors WOODCREST CONDOMINIUMS: Plan Exclusivity Period Extended to Sept. 1 WRENCHERS LLC: Gets Interim OK to Use Cash Collateral Until July 16 [] Moody's Upgrades Ratings on 37 Bonds from 5 US RMBS Deals ********* 2421 3RD LLC: Seeks Chapter 7 Bankruptcy in New York ---------------------------------------------------- On June 17, 2026, 2421 3rd 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 $1 million and $10 million in debt owed to approximately 1–49 creditors. About 2421 3rd LLC 2421 3rd LLC is a real estate holding company engaged in the ownership, management, leasing, and investment of residential or commercial property assets. 2421 3rd LLC sought relief under Chapter 7 of the U.S. Bankruptcy Code (Bankr. Case No. 26-72459) 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 Louis A. Scarcella handles the case. 28 HOWARD: Commences Chapter 11 Bankruptcy in Maine --------------------------------------------------- On June 17, 2026, 28 Howard 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 between 1 and 49 creditors. About 28 Howard LLC 28 Howard LLC is a limited liability company. Further details regarding its business operations were not disclosed in the bankruptcy petition. 28 Howard LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-20180) on June 17, 2026. In its petition, the debtor reported estimated assets of between $100,001 and $1 million and estimated liabilities of between $10 million and $50 million. Honorable Bankruptcy Judge Peter G. Cary is overseeing the case. The debtor is represented by D. Sam Anderson of Bernstein, Shur, Sawyer & Nelson P.A. 522 FIFTH VENTURE: Hires Sherrard Roe Voigt & Harbison as Counsel ----------------------------------------------------------------- 522 Fifth Venture, LLC seeks approval from the U.S. Bankruptcy Court for the Middle District of Tennessee to hire Sherrard Roe Voigt & Harbison, PLC as counsel. The firm will render these services: a. render legal advice with respect to the rights, powers, and duties of Debtor in the management of its property; b. prepare all necessary pleadings, orders and reports with respect to this proceeding and to render all other legal services as may be necessary or proper; c. assist and counsel Debtor in the preparation, presentation, and confirmation of its Plan of Reorganization; and d. perform all other legal services that may be necessary and appropriate in the general administration of the estate. The hourly rates range from $410 per hour for new associates to $1,060 for our most senior partners. Paralegals' time is billed from $300 to $390 per hour depending on experience and expertise. Michael G. Abelow, the partner who will perform the majority of the legal services related to this case, has a rate of $720 per hour. Associate Brettson J. Bauer will assist Mr. Abelow with its case, and his hourly rate is $460. Pre-petition Sherrard Roe charged $3,792.00 in fees and $1,738 for the Chapter 11 filing fee to Debtor, the total ($10,530.00) of which was paid pre-petition by Debtor's members. Debtor's members also paid a pre-petition retainer of $50,000, of which $49,290 is remaining after application of a portion of the pre-petition fees and expenses. Mr. Abelow assured the court that Sherrard Roe Voigt & Harbison, PLC is a "disinterested person" within the meaning of 11 U.S.C. Sec. 101(14). The firm can be reached through: Michael G. Abelow, Esq. Brettson J. Bauer, Esq. SHERRARD ROE VOIGT & HARBISON, PLC 1600 West End Avenue, Suite 1750 Nashville, TN 37203 Telephone: (615) 742-4532 Email: mabelow@srvhlaw.com bbauer@srvhlaw.com About 522 Fifth Venture, LLC 522 Fifth Venture, LLC is a single-asset real estate joint venture developing a planned residential project in Nashville, Tennessee's SoBro district. 522 Fifth Venture, LLC filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. M.D. Tenn. Case No. 26-02683) on June 4, 2026, listing $29,700,075 in assets and $18,873,307 in liabilities. The petition was signed by Evan Michael Lengsfield Kasper as member of Elk Fund VI, LLC (the Debtor's co-manager). Judge Nancy B King presides over the case. Michael G. Abelow, Esq. at SHERRARD ROE VOIGT & HARBISON, PLC serves as the Debtor's counsel. 7 MERRIEWOLD: Court Annuls Stay, Dismisses Bankruptcy Case ---------------------------------------------------------- The Hon. Kyu Young Paek of the U.S. Bankruptcy Court for the Southern District of New York granted the motion of U.S. Bank Trust National Association, as Trustee for RCF 2 Acquisition Trust, to: (i) annul the automatic stay to validate a foreclosure auction and sale of real property located at 7 Merriewold Lane South, Monroe, NY 10905; and (ii) dismiss 7 Merriewold LLC's bankruptcy case. Foreclosure Judgment On January 25, 2019, Bentzion Jacobovitch borrowed $330,600.00 to finance the purchase of the Property from FM Home Loans, LLC by executing a note and mortgage granting a security interest to the lender in the Property. On January 13, 2023, the Mortgage was assigned to Federal National Mortgage Association, and, on March 16, 2023, the Mortgage was further assigned to U.S. Bank. On May 25, 2023, U.S. Bank commenced an action in the Supreme Court of the State of New York, County of Orange, against the Borrower and others to foreclose on the Property. The case is titled, U.S. Bank Trust National Association, not in its Individual Capacity but Solely as Owner Trustee for RCF 2 Acquisition Trust v. Bentzion Jacobovitch, et al., Index No. EF003409-2023. On October 3, 2024, the State Court entered an Order Confirming Referee Report and Judgment of Foreclosure and Sale, which, among other things, directed the court-appointed referee to conduct a foreclosure auction and sale of the Property. Consistent with the Foreclosure Judgment, the Referee scheduled a foreclosure auction of the Property for May 7, 2025. Following dismissal of the First Involuntary Case, the Referee scheduled another foreclosure auction of the Property for September 24, 2025. Following dismissal of Second Involuntary Case, the Referee scheduled yet another foreclosure auction for February 17, 2026. On April 7, 2026, U.S. Bank filed the (i) motion to annul stay seeking, inter alia, to retroactively validate the Third Foreclosure Auction, and (ii) motion to dismiss seeking dismissal of the Debtor's bankruptcy case. The Debtor filed an opposition to the motion to annul stay on May 15, 2026. To determine whether annulment of the stay is appropriate, courts in the Second Circuit analyze the following factors originally set forth in In re Stockwell, 262 B.R. 275, 281 (Bankr. D. Vt. 2001): 1. If the creditor had actual or constructive knowledge of the bankruptcy filing and, therefore, of the stay; 2. If the debtor has acted in bad faith; 3. If there was equity in the property of the estate; 4. If the property was necessary for an effective reorganization; 5. If grounds for relief from the stay existed and a motion, if filed, would likely have been granted prior to the automatic stay violation; 6. If failure to grant retroactive relief would cause unnecessary expense to the creditor; and 7. If the creditor has detrimentally changed its position on the basis of the action taken. According to the Court, a majority of the Stockwell factors favor annulment of the stay. As to the second Stockwell factor, the Court finds that the Debtor -- through its sole member, the Borrower -- filed this case in bad faith. The Court finds most of the bad faith factors are present in this case. The Property is the Debtor's only asset, U.S. Bank is its only creditor, the Debtor's finances represent a two-party dispute, the Property is subject to the Foreclosure Judgment, and the Debtor has no operations, cash flow or employees. Most notably, the following actions clearly show that the Debtor acted with intent to delay and frustrate U.S. Bank's legitimate rights under the Foreclosure Judgment: * the Borrower's formation of the Debtor one day before the Third Foreclosure Auction; * the Borrower's transfer of the Property to the Debtor one day before the Third Foreclosure Auction in exchange for $10.00; and * the filing of the Debtor's bankruptcy petition roughly one hour prior to the Third Foreclosure Auction. The Court also finds that the Debtor's efforts to stop the Third Foreclosure Auction were a continuation of the Borrower's prior efforts to delay and frustrate U.S. Bank's rights. As to the fourth Stockwell factor, the Court notes that, although the Property would be necessary for a reorganization, the Debtor is not prosecuting this bankruptcy case. Indeed, the Debtor has not even filed basic bankruptcy schedules, let alone a disclosure statement or plan of reorganization. This factor weighs in favor of annulling the stay because there is no prospect of a successful reorganization. As to the sixth Stockwell factor, the Court finds that U.S Bank would incur unnecessary expense absent annulment of the stay. The Third Foreclosure Auction resulted in the sale of the Property, and absent annulment of the stay, U.S. Bank would incur additional costs associated with a fourth foreclosure auction as well as the prospect of selling the Property for a price that is lower than the price to be paid by the winning bidder of the Third Foreclosure Auction. Five of the seven Stockwell factors strongly support annulment of the stay. The Court concludes under these circumstances, annulment of the stay is appropriate. The United States Supreme Court decision in Roman Cath. Archdiocese of San Juan, Puerto Rico v. Acevedo Feliciano, 589 U.S. 57 (2020) ("Acevedo") did not remove a bankruptcy court's statutory right to annul the stay under 11 U.S.C. Sec. 362(d) and 28 U.S.C. Sec. 157(b)(2)(G). Acevedo presents no impediment to this Court's annulment of the stay to retroactively validate the Third Foreclosure Auction. In its analysis of the Stockwell factors, the Court has already concluded that the Debtor filed this bankruptcy in bad faith. For the same reasons, the Court finds that "cause" exists to dismiss this case. A copy of the Court's Memorandum Decision dated June 22, 2026, is available at http://urlcurt.com/u?l=X1rN3cfrom PacerMonitor.com. 7 Merriewold LLC filed for Chapter 11 bankruptcy protection (Bankr. S.D.N.Y. Case No. 26-35163) on February 17, 2026, listing under $1 million in both assets and liabilities. A copy of the petition is available at http://urlcurt.com/u?l=00LLaZ The Debtor is represented by: H. Bruce Bronson, Jr., Esq. Carl J. Nelson, Esq. BRONSON LAW OFFICES, P.C. 480 Mamaroneck Avenue Harrison, NY 10528 Counsel to U.S. Bank: Jenelle Arnold, Esq. ALDRIDGE PITE, LLP 40 Marcus Drive, Suite 200 Melville, NY 11747 E-mail: jarnold@aldridgepite.com 9486 HOLLY ROAD: Hires Ross LLP as Special Litigation Counsel ------------------------------------------------------------- 9486 Holly Road, LLC seeks approval from the U.S. Bankruptcy Court for the Central District of California to employ Ross LLP as its special litigation counsel. The firm will represent the Debtor's in these litigation: a. David Separzadeh, et al. v. John Jezzini, et al. (Los Angeles Superior Court, Case No. 25STCP03999); and b. 9486 Holly Road, LLC v. Elevate Manufacturing, Inc. (San Bernardino Superior Court, Case No. CIVVS2507177). The firm will be paid at these rates: Peter W. Ross $975 per hour Richard A. Schwartz $825 per hour Eric Lauritsen $525 per hour Emma Sutherland $340 per hour Richard A. Schwartz, Esq., a partner with Ross LLP, assured the court that his firm is a "disinterested person" within the meaning of 11 U.S.C. Sec. 101(14). The firm can be reached through: Richard A. Schwartz, Esq. ROSS LLP 1900 Avenue Of The Stars, Ste 1870 Los Angeles, CA 90067-4325 Telephone: (424) 504-7600 Facsimile: (424) 504-7680 Email: rschwartz@rossllp.la About 9486 Holly Road LLC 9486 Holly Road LLC is a limited liability company organized to own and manage real estate assets. 9486 Holly Road LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Cal. Case No. 26-10978) on February 11, 2026. In its petition, the Debtor disclosed $1 million to $10 million in both estimated assets and liabilities. Honorable Bankruptcy Judge Magdalena Reyes Bordeaux handles the case. The Debtor is represented by David B. Golubchik, Esq., at Levene, Neale, Bender, Yoo & Golubchik LLP. A&C AUTOWORKS: Case Summary & 20 Largest Unsecured Creditors ------------------------------------------------------------ Debtor: A&C Autoworks Inc. 12590 First Street Thornton, CO 80241 Business Description: A & C Autoworks is a family-owned and operated auto repair shop based in Thornton, Colorado. The company provides vehicle repair and maintenance services including oil changes, alignments, tune-ups, diagnostics, brake service, engine and transmission repair, suspension and steering service, A/C system service, tire service, and fleet maintenance. It services domestic and foreign vehicles, including cars, trucks, SUVs, commercial and light-duty truck fleets, and has a Subaru specialist on staff. Chapter 11 Petition Date: June 18, 2026 Court: United States Bankruptcy Court District of Colorado Case No.: 26-14422 Judge: Hon. Michael E Romero Debtor's Counsel: Andrew Johnson, Esq. ONSAGER FLETCHER JOHNSON PALMER LLC 1801 California Street Suite 2400 Denver, CO 80202 Tel: (720) 457-7061 E-mail: ajohnson@ofjlaw.com Total Assets: $1,290,614 Total Liabilities: $2,358,144 The petition was signed by Malcom Garrison as president and director. A copy of the Debtor's list of its 20 largest unsecured creditors is available for free on PacerMonitor at: https://www.pacermonitor.com/view/TWLSAEQ/AC_Autoworks_Inc__cobke-26-14422__0003.0.pdf?mcid=tGE4TAMA A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/TO3ZSPI/AC_Autoworks_Inc__cobke-26-14422__0001.0.pdf?mcid=tGE4TAMA ABBEY GROUP: Hires Calaiaro Valencik as Bankruptcy Counsel ---------------------------------------------------------- The Abbey Group LLC seeks approval from the U.S. Bankruptcy Court for the Western District of Pennsylvania to hire Calaiaro Valencik as counsel. The firm's services include: (a) prepare the bankruptcy petition and attendance at the Initial Debtor Interview and 341 Meeting of Creditors; (b) represent the Debtor in relation to negotiating an agreement on cash collateral; (c) represent the Debtor in relation to acceptance or rejection of executory contracts; (d) advise the Debtor with regard to its rights and obligations during the Chapter 11 case; (e) represent the Debtor in relation to any motions to convert or dismiss this Chapter 11; (f) represent the Debtor in relation to any motions for relief from stay filed by any creditors; (g) prepare the Chapter 11 Plan and Disclosure Statement, or equivalents; (h) prepare any objection to claims in the Chapter 11; and (i) otherwise, represent the Debtor in general. The firm's counsel and staff will be paid at these hourly rates: Donald Calaiaro, Partner $550 David Valencik, Partner $450 Andrew Pratt, Partner $375 Daniel White, Partner $350 Paralegals $130 In addition, the firm will seek reimbursement for expenses incurred. Mr. Valencik disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: David Z. Valencik, Esq. Calaiaro Valencik 555 Grant Street, Suite 300 Pittsburgh, PA 15219 Telephone: (412) 232-0930 Facsimile: (412) 232-3858 Email: dvalencik@c-vlaw.com About The Abbey Group LLC The Abbey Group LLC, doing business as The Abbey on Butler Street, operates a hospitality venue in Pittsburgh, Pennsylvania. The company provides coffeehouse, bar, and dining services under one roof, with food and drink menus, reservations, events, private parties, and gift cards. Its venue includes The Coffeehouse, The Parlour Bar, The Vesper Room, and an outdoor dining area. The Abbey Group LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-21453) on May 22, 2026. In its petition, the debtor reported estimated assets of $0-$100,000 and estimated liabilities of $1 million-$10 million. The debtor is represented by David Z. Valencik, Esq., of Calaiaro Valencik. ACCENDRA HEALTH: Moody's Rates New Secured First Lien Notes 'B2' ---------------------------------------------------------------- Moody's Ratings assigned a B2 rating to the new senior secured first lien notes due 2032 of Accendra Health, Inc. (Accendra). At the same time, Moody's assigned a Caa2 rating to Accendra's new senior secured second lien notes due 2033. There are no changes to Accendra's existing ratings including the Caa1 corporate family rating, the Caa1-PD probability of default rating, the existing B2 senior secured bank credit facilities ratings, and the existing Caa3 senior unsecured notes rating. The outlook remains unchanged at stable. The new debt instruments are part of Accendra's recently launched liability management plan. The transaction includes amending and extending the company's $475 million revolving credit facility into the new facility of up to $300 million due 2030, refinancing its approximately $326 million 2027 term loan A with the new first lien notes, exchanging existing 2029 senior unsecured notes into a combination of the new first lien and second lien secured notes, and exchanging existing 2030 senior unsecured notes into the new second lien secured notes. The new first lien revolving credit facility and senior secured notes are pari passu to the existing Term Loan B due in 2029, which is not being refinanced in this transaction. The transaction will reduce debt and extend Accendra's maturity profile. However, the transaction will increase interest costs by about $40 million annually. Upon completion of the transaction, Moody's will classify the exchange offers as a distressed exchange, a default under Moody's definitions, because participating noteholders will receive less than originally promised. When the transaction closes, Moody's will temporarily append a limited default (LD) designation to Accendra's probability of default rating. RATINGS RATIONALE The Caa1 CFR reflects Accendra's high leverage following the sale of its legacy Products & Healthcare Services business, Moody's expectations for limited earnings growth, and the company's aggressive financial policy, including its proposed liability management transaction. Visibility into Accendra's medium-term earnings and deleveraging path remains limited, and leverage will remain high even if the proposed transaction is completed. Over time, the company's capital structure could prove unsustainable absent stronger earnings growth and improved free cash flow generation. The rating is supported by Accendra's established position in home-based healthcare products and services and by favorable long-term industry trends, including growth in chronic conditions and the continued shift of care into the home. Through its Apria and Byram brands, the company provides respiratory and sleep therapy products, as well as diabetes, ostomy, wound care and urology supplies and related services. The business retains broad payor relationships and a nationwide operating platform. Moody's expects Accendra to maintain good liquidity (SGL-2) over the next 12-18 months. Moody's projects the company will generate modest free cash flow in 2026 and 2027. Liquidity is supported by $328 million cash on hand reported as of March 31, 2026. Liquidity will be supported by the new $300 million revolving credit facility expiring in 2030, which Moody's anticipates will be undrawn at the close of the transaction, and by a $150 million asset receivable securitization facility that expires in 2028. The company's existing $450 million revolving credit facility expiring in March 2027 had $255 million drawn as of March 31, 2026, but this will be refinanced with the liability management transaction. The B2 rating on the new first lien senior secured debt and existing senior secured term loan is two notches above the Caa1 CFR, reflecting a priority claim in Accendra's capital structure. The Caa2 rating on the new second lien notes reflects its junior position relative to a significant amount of first lien secured debt. The Caa3 rating on the existing senior unsecured debt reflects subordination to the new first lien and second lien debt. The stable outlook reflects Moody's expectations that Accendra's earnings will remain broadly stable and that free cash flow will remain positive but limited. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS Moody's could upgrade the ratings if Accendra demonstrates a good track record operating as a smaller and more focused company, including consistent earnings growth and positive free cash flow and debt reduction. Moody's could downgrade the ratings if the operating performance deteriorates such that leverage remains elevated and free cash flow turns negative. Moody's could also downgrade the ratings if the chance of another distressed exchange increases. Accendra Health, Inc., headquartered in Richmond, Virginia, is a nationwide provider of products, technology and services that support home-based care. Through its Apria and Byram brands, the company provides equipment rentals, medical supplies and related services for patients with chronic and complex health conditions, including diabetes, sleep health, wound care, respiratory care, urology and ostomy. 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. ADDISON DENTAL: Case Summary & 18 Unsecured Creditors ----------------------------------------------------- Debtor: Addison Dental Associates, PC 4045 Orchard Road Suite 300 Smyrna GA 30080 Business Description: Clarence Addison, DMD is a dental practice located in Smyrna, Georgia. The practice provides dental services including Invisalign, Zoom! whitening, porcelain veneers, dental implants, restorations, dentures, fixed bridges, and root canal therapy. Chapter 11 Petition Date: June 16, 2026 Court: United States Bankruptcy Court Northern District of Georgia Case No.: 26-57885 Debtor's Counsel: Sims W. Gordon Jr., Esq. THE GORDON LAW FIRM, PC 400 Galleria Parkway SE Suite 1500 Atlanta, GA 30339 Tel: 770-955-5000 E-mail: law@gordonlawpc.com Total Assets: $3,224,866 Total Liabilities: $2,401,902 The petition was signed by Clarence Lee Benjamin Addison, Jr., as CEO. 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/QNSJQKY/Addison_Dental_Associates_PC__ganbke-26-57885__0001.0.pdf?mcid=tGE4TAMA ADI GLOBAL: Moody's Affirms Ba3 CFR, Rates New $500MM Notes B1 -------------------------------------------------------------- Moody's Ratings affirmed ADI Global Distribution Funding LLC's (ADI) Ba3 corporate family rating, Ba3-PD probability of default rating and the Ba2 ratings on its $500 million senior secured first-lien revolving credit facility due 2031 and $500 million senior secured first-lien term loan due 2033. At the same time, Moody's assigned a B1 rating to ADI's proposed $500 million senior unsecured notes due 2034. The speculative grade liquidity rating (SGL) score remains SGL-1. The outlook is stable. The use of debt proceeds, together with the recent term loan issuance, and a $50 million contribution from Resideo Funding Inc. (Ba2 stable, Resideo) will be used to finance the spin-off of ADI from its current parent company Resideo. The transaction will add $150 million to ADI's balance sheet and will provide a $900 million dividend to Resideo. The spin-off will likely be completed in the course of 2026 and Moody's projects that ADI will initially have around $1 billion of funded debt outstanding at transaction close and will be a public listed company. Pro-forma leverage of the transaction will be around 4.0x adjusted debt/EBITDA. RATINGS RATIONALE ADI's Ba3 CFR reflects ADI's strong market position as a leading global specialty distributor of professionally installed low-voltage products and residential audio-visual solutions with almost $5 billion in revenue. The company has a robust product offering of over 500,000 products across leading brands and a global footprint of over 200 locations and more than 20 regional distribution centers in 17 countries. ADI is constrained by its modest profitability with EBIT margins in the mid-single digits and susceptibility to cyclical demand. The company is focused on expanding its EBIT margins through growth in touchless revenue and exclusive products. However, margin expansion will be difficult to achieve in a soft near term demand environment and competitive nature of the distributions business. ADI has very good liquidity with pro forma cash of about $150 million, an undrawn $500 million revolving credit facility and around $100 million of expected annual free cash flow. Moody's expects the company to prioritize investment in its processes and systems to drive organic growth but also expect capital deployment for opportunistic acquisitions. Moody's do not anticipate common dividends in the near-term. The B1 rating on the senior unsecured notes reflects the loss absorption of this class of debt given that it is structurally subordinated to the Ba2-rated first lien debt. The Ba2 ratings on the senior secured first lien revolver and term loan, one-notch above the Ba3 CFR, reflect the support provided by the expected unsecured debt in the capital structure and by other unsecured claims such as certain trade payables and operating leases. The stable outlook reflects Moody's expectations of successful execution and balanced financial strategies as a stand-alone company including gradual deleveraging toward its stated goal of 3.0x debt to EBITDA and focus on margin improvements and debt repayment. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS The ratings could be upgraded if the company demonstrates a track record of successful operations and disciplined financial policies as a standalone entity with strong credit metrics during any industry cycle including: -- Debt to EBITDA below 3.5x -- EBIT margin sustained above 5% -- EBITDA to interest in excess of 5x -- Maintenance of good liquidity including retained cash flow to net debt above 20% The ratings could be downgraded if the company adopts aggressive financial policies or experiences operational challenges. Specifically, the ratings could be downgraded if: -- Debt to EBITDA sustained above 4.5x -- EBIT margin below 3% -- Liquidity deteriorates including retained cash flow to net debt sustained below 15% Headquartered in Melville, NY, ADI is a leading specialty distributor of security, AV, low-voltage and related products serving professional contractors and integrators across the globe. ADI operates an extensive branch network and e-commerce platform to support its customer base. ADI generated about $4.8 billion in revenue in 2025. Following it spinoff from Resideo Technologies, Inc., it will be an independent publicly traded company. ADI Global Distribution Inc. will be the issuer of the audited financial statements and is a guarantor of ADI Global Distribution Funding LLC. 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. ADVANCED INTEGRATION: S&P Withdraws 'B-' Issuer Credit Rating ------------------------------------------------------------- S&P Global Ratings withdrew all its ratings on Advanced Integration Technology L.P. (AIT), including the 'B-' issuer credit rating and 'B-' issue-level ratings on its senior secured debt, following repayment of its outstanding debt. At the time of the withdrawal, S&P's outlook on AIT was stable. ADVANCED TREATMENT: Gets Extension to Access Cash Collateral ------------------------------------------------------------ Advanced Treatment Technologies, Inc. received another extension from the U.S. Bankruptcy Court for the Middle District of North Carolina, Greensboro Division to use cash collateral. The court entered a second interim order authorizing the Debtor to use cash collateral based on an approved budget from May 22 through the next hearing scheduled for July 9. The Debtor must limit cost-of-goods-sold expenditures to items necessary to maintain operations during the interim period. As adequate protection, the Internal Revenue Service will receive replacement liens on post-petition accounts receivable and payment intangibles, limited to the value and extent of its pre-petition collateral interests. Similar replacement liens will be granted to Bizfund, LLC, GH Kapital, and other merchant cash advance creditors, limited to their respective pre-petition collateral positions and without expanding their rights beyond the petition date. The court has not yet determined the amount of any secured claim, the validity of any lien, or whether the merchant cash advance agreements constitute true sales of receivables or disguised financing arrangements. Those issues remain reserved for later adjudication. Its order preserves all parties' rights to challenge the validity, priority, extent, characterization, or enforceability of any asserted liens or claims. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/pPYEi from PacerMonitor.com. The next hearing is scheduled for July 9. Any objections must be filed no later than three business days before the hearing. About Advanced Treatment Technologies Inc. Advanced Treatment Technologies, Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. N.C. Case No. 26-10392) on May 22, 2026, with up to $500,000 in assets and up to $10 million in liabilities. Charles R. Hayes, president of Advanced Treatment Technologies, signed the petition. Judge Lena M. James oversees the case. Clint Morse, Esq., at Brooks, Pierce, McLendon, Humphrey & Leonard, LLP, represents the Debtor as legal counsel. AI ERA CORP: Appoints Mark Iwanowski as Non-Executive Vice Chairman ------------------------------------------------------------------- AI Era Corp. announced in a regulatory filing that it entered into a Vice Chairman Agreement with Mark Iwanowski. Mr. Iwanowski is a Partner at Pegasus Tech Ventures with a focus on U.S. investments. He is an experienced veteran in the international technology sector, having been a successful serial entrepreneur with three global startups ultimately acquired by Fortune 500 companies. He was previously Managing Director with Trident Capital focusing on investments in IT, Software, Communications and CleanTech. Mr. Iwanowski also served as Senior Vice President Global IT and CIO for Oracle Corporation, where he helped transition Oracle into the Software as a Service business and drove over $1 billion in cost savings through IT consolidation. During his time at Oracle, he was actively involved in the acquisition and integration of approximately $20 billion of complementary technology companies. Prior to that, he co-managed a Digital Transformation Outsourcing business at SAIC. He has also held executive positions with Raytheon and Honeywell. Before entering the corporate world, Mr. Iwanowski played professional football with the New York Jets, Oakland Raiders, and Kansas City Chiefs. He holds a Bachelor's degree in Engineering from the University of Pennsylvania, a Master's degree in Engineering from the California Institute of Technology, and an M.B.A. from National University. Pursuant to the Agreement, the Company appointed Mr. Iwanowski to serve as Vice Chairman of the Company in a non-executive, advisory capacity. The position is not a position on the Board of Directors, and Mr. Iwanowski is not a member of the Board of Directors or an "officer" of the Company for purposes of the Securities Exchange Act of 1934, as amended. The Vice Chairman serves as an independent contractor and strategic advisor to the Chairman. The Vice Chairman's responsibilities include assisting the Chairman with strategic planning and execution, supporting the Company's external image, brand positioning and investor relations activities, identifying and developing relationships with potential strategic partners, investors and business opportunities, and providing high-level advice on the Company's growth, development and AI media initiatives. The Vice Chairman has no authority to enter into contracts, hire or terminate personnel, approve budgets or expenditures, or make operational decisions on behalf of the Company. Under the Agreement, the Vice Chairman receives no cash compensation. The sole compensation consists of equity compensation in the form of non-qualified stock options. The Company will grant the Vice Chairman NSOs having an aggregate grant date fair market value of $150,000 on or about each anniversary of the Effective Date (subject to Board or Compensation Committee approval and execution of a separate grant agreement). Each annual grant vests as follows: 50% on the six-month anniversary of the grant date and the remaining 50% in equal monthly installments over the following six months. In addition, if the Vice Chairman personally introduces and successfully secures a "New Client," he is eligible to receive additional NSOs equal to 8% of the First-Year Revenue generated from such New Client (determined using the Black-Scholes model or other Board-approved valuation methodology). The Agreement has an initial term of one year commencing June 12, 2026, and automatically renews for successive one-year periods unless either party provides written notice of non-renewal at least 30 days prior to the end of the then-current term. Either party may terminate the Agreement at any time, with or without cause, upon 30 days' prior written notice. A full text copy of the Agreement is available at https://tinyurl.com/nh9s6bp5 About AI Era Corp. AI Era Corp. (formerly AB International Group Corp.) is an intellectual property investment, acquisition, and licensing company focused primarily on the entertainment media sector. The Company acquires copyrights and broadcast rights for movies, television series, and short-form drama series, which it monetizes through licensing (broadcast and download), embedded marketing services, AI-enhanced consulting, and direct copyright sales. In addition, the Company operates the Mt. Kisco Theatre in Mount Kisco, New York, generating revenue from ticket admissions, concessions, and on-screen advertising. As of February 28, 2026, the Company had $9 million in total assets, $2.8 million in total liabilities, and $6.2 million in total stockholders' equity. As of February 28, 2026, the Company had limited cash, an accumulated deficit of approximately $7.8 million and a working capital deficit of approximately $1.6 million. The continuation of the Company as a going concern is dependent upon the continued financial support from its stockholders or external financing and achieving operating profits. These factors, among others, raise the substantial doubt regarding the Company's ability to continue as a going concern. ALLBOUND CARRIER: Hires Larry R. Davidson as Special Counsel ------------------------------------------------------------ Allbound Carrier, Inc. seeks approval from the U.S. Bankruptcy Court for the Northern District of Illinois to hire Larry R. Davidson, an Oregon attorney, as special counsel. The counsel will represent the Debtor in the lawsuit arising out of a vehicle accident that occurred a prepetition, titled "Bevis v. Castillo, et.al.," Case No. 2:21-cv-01857-AN. Mr. Davidson will charge $290 per hour for his services. Mr. Davidson does not represent or hold any interest adverse to the Debtor or the estate with respect to the Oregon District Court Action. Mr. Davidson can be reached at: Larry R. Davidson, Esq. Law Office of Larry R. Davidson 121 SW Morrison Street, Suite 1020 Portland, OR 97204 Telephone: (503) 229-0199 Facsimile: (503) 229-0644 Email: larry@rollin-on.com Allbound Carrier Inc. Allbound Carrier, Inc. is an Illinois-based trucking company operating through independent owner-operators. Allbound Carrier sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 26-06532) on April 15, 2026, with assets of up to $1 million and liabilities of up to $500,000. Blagoj Srbinov, president of Allbound Carrier, signed the petition. Judge Nancy A. Peterman oversees the case. David P Leibowitz, Esq., at Law Offices of David P Leibowitz, LLC, represents the Debtor as legal counsel. ALLBOUND CARRIER: Hires Richard T. Granowsky as Special Counsel --------------------------------------------------------------- Allbound Carrier, Inc. seeks approval from the U.S. Bankruptcy Court for the Northern District of Illinois to hire Richard T. Granowsky, Esq., a North Carolina attorney, as special counsel. Mr. Granowsky will represent the Debtor in connection with the North Carolina Industrial Commission matter, IC File No. 21-716264, titled Goran Davidovic v. Allbound Carrier Inc. Mr. Granowsky will charge $250 per hour for his services. Mr. Granowsky assured the court that he does not hold interest adverse to the Debtor or the estate. Mr. Granowsky can be reached at: Richard T. Granowsky, Esq. Attorney at Law, PLLC d/b/a Gate City Law 301 North Elm Street, Suite 700 Greensboro, NC 27401-2149 Telephone: (336) 355-7763 Facsimile: (336) 379-1390 Allbound Carrier Inc. Allbound Carrier, Inc. is an Illinois-based trucking company operating through independent owner-operators. Allbound Carrier sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 26-06532) on April 15, 2026, with assets of up to $1 million and liabilities of up to $500,000. Blagoj Srbinov, president of Allbound Carrier, signed the petition. Judge Nancy A. Peterman oversees the case. David P Leibowitz, Esq., at Law Offices of David P Leibowitz, LLC, represents the Debtor as legal counsel. ALPINE CORP: Court OKs Continued Access to Cash Collateral ---------------------------------------------------------- Alpine Corporation received another extension from the U.S. Bankruptcy Court for the Central District of California, Los Angeles Division, to use cash collateral. The court entered an interim order authorizing the Debtor to continue using cash collateral to fund its operations on the same terms and conditions that applied under its March 30 interim order. All forms of adequate protection previously granted to secured creditors remain fully effective. The order is available at https://shorturl.at/yY7Gd from PacerMonitor.com. The court continued the hearing to June 30. Alpine has one secured creditor, IDB Bank, which received "adequate protection" payment of $40,000 under the March 30 interim order. IDB Bank holds a term loan of $159,598 and a revolving line of credit of $14,107,958, secured by substantially all of the Debtor's personal property including accounts receivable, inventory, equipment, furniture, and goodwill. The collateral is valued at approximately $16.7 million. The Debtor also obtained loans from three Hard Money Lenders -- Samson MCA LLC, 968 W Veterans Realty, LLC, and GBR Funding West, Inc. -- with security interests in future accounts. These liens, however, were filed during the 90-day preference period and are avoidable. About Alpine Corporation Alpine Corporation founded in 1999 and based in California, designs, imports, and distributes home, garden, and holiday products, offering a range that includes outdoor lighting, fountains, planters, garden decor, seasonal items, and innovative new products such as Bluetooth speakers. The Company operates an in-house design team known for producing decorative and functional pieces, and maintains a global sourcing operation to ensure quality, competitive pricing, and timely delivery. Alpine serves both retail stores and online customers through its platform, positioning itself in the home and garden products industry. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Cal. Case No. 26-10067) on January 5, 2026. In the petition signed by Robby Soofer, president, the Debtor disclosed $18,816,855 in total assets and $25,958,701 in total liabilities. Judge Neil W. Bason oversees the case. Michael S. Kogan, Esq., at Kogan Law Firm, APC, represents the Debtor as bankruptcy counsel. ANDALINA PROPERTIES: Commences Chapter 11 Bankruptcy in Maine ------------------------------------------------------------- On June 17, 2026, Andalina Properties 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 between 1 and 49 creditors. About Andalina Properties LLC Andalina Properties LLC is a limited liability company that appears to be engaged in real estate ownership and property-related investments. Additional details regarding its operations were not disclosed in the bankruptcy petition. Andalina Properties LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-20171) on June 17, 2026. In its petition, the debtor reported estimated assets of between $1 million and $10 million and estimated liabilities of between $10 million and $50 million. Honorable Bankruptcy Judge Peter G. Cary handles the case. The debtor is represented by D. Sam Anderson of Bernstein, Shur, Sawyer & Nelson P.A. APEX ELECTRICAL: Unsecured Creditors to Split $13K over 3 Years --------------------------------------------------------------- Apex Electrical Solutions, LLC filed with the U.S. Bankruptcy Court for the Middle District of Florida a Subchapter V Plan of Reorganization dated June 11, 2026. Apex is a Florida limited liability company organized in 2020. Apex provides electrical contracting and services for commercial and residential construction projects in Orange, Osceola, Seminole, Lake, and Volusia counties. Apex is owned by Tarah Hauk and Jason Hauk, both of whom serve as managers of the company. Jason Hauk is responsible for the day-to-day operations of the company. Apex conducts its operations from leased office space located at 299 Live Oaks Blvd., Casselberry, Florida 32707. In July 2020, Jason and Tarah Hauk founded Apex, initially operating with a single van and focusing primarily on short-term, service-based electrical projects. To support its growth and ongoing operations, and after being unable to obtain traditional business financing or project-based construction loans, Apex began utilizing Merchant Cash Advances ("MCAs") in 2024. This loan, like the MCA funding, provided short term cash, but proved to be a severe strain on Apex's cash flow and on its operations. Without access to more favorable, traditional business and construction financing and with MCA creditors and its lender continuing to withdraw substantial sums from its accounts, Apex was unable to maintain sufficient working capital. Certain MCA creditors initiated aggressive collection efforts, which resulted in banks freezing Apex's bank accounts. In addition, Apex's lender was threatening litigation. These actions further disrupted operations and forced Apex to downsize, including reducing personnel and scaling back its construction activities. The cumulative effect of these events created an immediate liquidity crisis, ultimately necessitating the filing of this Bankruptcy Case to stabilize operations and restructure Apex's operations. Accordingly, Apex elected to utilize the chapter 11 bankruptcy process to address its debt obligations in an orderly manner for the benefit of its creditors and the Estate. Class 5 consists of all Allowed General Unsecured Claims against the Debtor. If the Plan is confirmed under Section 1191(a) of the Bankruptcy Code, in full satisfaction of the Allowed Class 5 General Unsecured Claims, Holders of Class 5 Claims shall receive a pro rata share of quarterly Distributions totaling $13,000.00, paid pursuant to the following payment schedule, which payments shall commence on the 14th day following the Effective Date: * Quarters 1 through 4 (Plan Year 1): $375.00 per quarter * Quarters 5 through 8 (Plan Year 2): $625.00 per quarter * Quarters 9 through 12 (Plan Year 3): $2,250.00 per quarter If the Plan is confirmed under Section 1191(b) of the Bankruptcy Code, in full satisfaction of the Allowed Class 5 General Unsecured Claims, Holders of Class 5 Claims shall receive a pro rata share of quarterly Distributions totaling the equivalent of the Debtor's Projected Disposable Income, paid pursuant to the following payment schedule, which payments shall commence on the 14th day following the Effective Date: * Quarters 1 through 4 (Plan Year 1): $317.22 per quarter * Quarters 5 through 8 (Plan Year 2): $390.32 per quarter * Quarters 9 through 12 (Plan Year 3): $2,014.36 per quarter As set forth in the Debtor's financial projections attached hereto as Exhibit A, the Debtor's Projected Disposable Income over the 3-year term of the Plan is $10,887.60. Class 6 consists of all equity interests in Apex Electrical Solutions, LLC. Class 6 Interest Holders shall retain their respective Interests in Apex Electrical Solutions, LLC in the same proportions such Interests were held as of the Petition Date (i.e., 51.00% Interest to Tarah Hauk and 49.00% Interest to Jason Hauk). Class 6 is Unimpaired. The Plan contemplates the Debtor will continue to manage and operate its business in the ordinary course, but with restructured debt obligations and reduced overhead resulting from the Debtor's downsizing and restructuring of its operations. It is anticipated that the Debtor's postconfirmation business will primarily focus on smaller, short-term, service-based electrical projects, similar to the business model under which the Debtor initially operated successfully, the income from which will be committed to make the Plan Payments. Funds generated from the Debtor's operations through the Effective Date will be used for Plan Payments; however, the Debtor's cash on hand as of Confirmation will be available for payment of Administrative Expenses. A full-text copy of the Plan of Reorganization dated June 11, 2026 is available at https://urlcurt.com/u?l=4SnOVX from PacerMonitor.com at no charge. Counsel for the Debtor: BURR & FORMAN LLP Eric S. Golden, Esq. Kylie A. Riordan, Esq. 200 S. Orange Avenue, Suite 800 Orlando, Florida 32801 Phone: (407) 540-6600 Facsimile: (407) 540-6601 Email: egolden@burr.com Email: kriordan@burr.com About Apex Electrical Solutions LLC Apex Electrical Solutions, LLC provides electrical contracting and services for commercial and residential construction projects in Orange, Osceola, Seminole, Lake, and Volusia counties. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 26-01865) on March 17, 2026, with $100,001 to $500,000 in assets and $500,001 to $1 million in liabilities. Eric S. Golden, Esq. at Burr & Forman LLP represents the Debtor as legal counsel. ARBORICULTURAL SOLUTIONS: Court OKs Deal to Use Cash Collateral --------------------------------------------------------------- The U.S. Bankruptcy Court for the Northern District of California, Santa Rosa Division, approved a stipulation between Arboricultural Solutions, Inc. and secured creditor Commercial Credit Group, Inc. authorizing the continued use of cash collateral. Under the order, the Debtor is authorized to use cash collateral to pay post-petition expenses related to the operation of its arboricultural and forestry management business. As adequate protection, Commercial Credit Group will receive post-petition replacement liens on the same collateral securing its pre-petition claims, with the same validity, extent, and priority as existed on the petition date. The liens are deemed perfected without further filings. In addition, the order approved monthly payments of $7,500 to Commercial Credit Group from April through July, and $25,000 per month thereafter until further court order or until the secured creditor is fully paid. Events of default include failure to comply with the stipulation, unauthorized sales or encumbrances of collateral, lapse of insurance coverage, appointment of a trustee, conversion or dismissal of the bankruptcy case, or cessation of operations. If an uncured default occurs, Commercial Credit Group may seek termination of the Debtor's authority to use cash collateral, enabling the lender to enforce its rights against the collateral under applicable law. The order is available at https://is.gd/74EtgVh from PacerMonitor.com. About Arboricultural Solutions Inc. Arboricultural Solutions, Inc., doing business as Signature Tree Solutions, filed a Chapter 11 bankruptcy petition (Bankr. N.D. Calif. Case No. 26-10066) on Feb. 4, 2026, with between $1 million and $10 million in both assets and liabilities. Judge William J. Lafferty oversees the case. The Debtor tapped David N. Chandler, Esq., at David Nyle Chandler, P.C. as legal counsel and Bachecki, Crom & Co., LLP as accountant. ARCADIA BIOSCIENCES: Raises $4M via Pre-Funded Warrants and Options ------------------------------------------------------------------- Arcadia Biosciences, Inc. announced in a regulatory filing that it entered into a Securities Purchase Agreement with an institutional accredited investor for the sale and issuance in a private placement of: (i) pre-funded warrants to purchase up to 3,883,496 shares of common stock of the Company, (ii) Series A-1 preferred investment options to purchase up to a total of 3,883,496 shares of Common Stock, and (iii) Series A-2 preferred investment options to purchase up to a total of 3,883,496 shares of Common Stock, at a purchase price of $1.0299 per Pre-Funded Warrant and accompanying Investment Options. Gross proceeds from the sale of the Pre-Funded Warrants and Investment Options are expected to be approximately $4 million, before deducting offering costs and expenses. The closing of the sale of the Pre-Funded Warrants and Investment Options took place on June 12, 2026. Each Pre-Funded Warrant sold in the Private Placement is exercisable for one share of Common Stock at an exercise price of $0.0001 per share, is immediately exercisable, and will not expire until fully exercised. The Series A-1 Preferred Investment Options have an exercise price of $0.91 per share, will be exercisable on and after the Stockholder Approval Date and will expire five years after the Stockholder Approval Date. The Series A-2 Investment Options will be exercisable immediately upon issuance, will expire 24 months following the effective date of the registration statement, and have an exercise price of $0.91 per share. If no effective registration statement is available to register the Common Stock issuable upon the exercise of the Investment Options or Placement Agent Investment Options, the holders may exercise by means of a "cashless exercise" procedure, and the Pre-Funded Warrants may also be exercised by means of a cashless exercise procedure. Under the terms of the Pre-Funded Warrants, Investment Options and Placement Agent Investment Options, a holder (together with its affiliates) may not exercise any portion of the Pre-Funded Warrant, Investment Option or Placement Agent Investment Option (as applicable) to the extent that the holder would beneficially own more than 4.99% (or 9.99% at the election of the holder) of the outstanding Common Stock immediately after exercise, which percentage may be changed at the holder's election to a lower percentage at any time or to a higher percentage not to exceed 9.99%, provided that any such increase shall be effective upon 61 days' prior notice to the Company. In addition, in certain circumstances, upon a fundamental transaction (as defined in the Pre-Funded Warrant or Investment Options), a holder of Pre‑Funded Warrants or Investment Options will be entitled to receive, upon exercise of the Pre-Funded Warrants or Investment Option, the kind and amount of securities, cash or other property that such holder would have received had they exercised the Pre-Funded Warrants or Investment Option immediately prior to the fundamental transaction. The Investment Options and Placement Agent Options also provide that, in the event of certain kinds of fundamental transactions, including, among other things, certain kinds of mergers or consolidations, sale of all or substantially all of our assets or certain stock sale transactions, then in certain circumstances the holder of such Investment Options or Placement Agent Options has the option, by delivering a notice within 30 days after the closing of such fundamental transaction, to require us to pay to such holders an amount of cash equal to the Black-Scholes value of the Investment Option or Placement Agent Option, calculated as provided therein. With respect to the Series A-1 Investment Options, the Purchase Agreement requires the Company to hold an annual or special meeting of stockholders on or prior to the date that is 90 days after the Closing Date for the purpose of obtaining such approvals as may be required by the applicable rules and regulations of the Nasdaq Stock Market LLC (or any successor entity) from the stockholders of the Company with respect to the issuance of all the Series A-1 Investment Options and the Series A-1 Option Shares upon the exercise of the Series A-1 Investment Options, with the recommendation of the Board of Directors of the Company that such proposals are approved, and provides that the Company will solicit proxies from its stockholders in connection therewith in the same manner as all other management proposals in such proxy statement, and that all management appointed proxyholders will vote their proxies in favor of such proposals. If the Company does not obtain Stockholder Approval at the first meeting, the Company is required to call a meeting every 90 days thereafter to seek Stockholder Approval until the earlier of the date on which Stockholder Approval is obtained or the Investment Options are no longer outstanding. The Purchase Agreement contains representations and warranties of the Company and the Purchaser and covenants that the Company believes are typical for transactions of this type. Pursuant to the terms of the Purchase Agreement, the Company has agreed to certain restrictions on the issuance and sale of its Common Stock or Common Stock equivalents, or the filing of any registration statement, during the 60-day period following the date on which the Resale Registration Statement covering the resale of all Pre-Funded Warrant Shares and Option Shares has been declared effective, subject to certain customary exceptions. The Company also agreed, for a period of one year after the effective date of the Resale Registration Statement, not to effect or enter into an agreement to effect a "Variable Rate Transaction" as defined in the Purchase Agreement, subject to an exception. In addition, the Purchase Agreement contains customary conditions precedent to the Purchaser's obligation to purchase the Pre-Funded Warrants and Investment Options. The Purchase Agreement obligates the Company to indemnify the Investors and various related parties for certain losses, including those resulting from: (i) any breach of any representations, warranties, covenants or agreements made by the Company in the Purchase Agreement or any other Transaction Documents (as defined in the Purchase Agreement), and (ii) certain claims by certain third parties with respect to any of the transactions contemplated by the Transaction Documents. The Purchase Agreement contains representations and warranties that the parties made to, and were solely for the benefit of, the other signatories to the Purchase Agreement in the context of all of the terms and conditions thereof and in the context of the specific relationship between the parties to the Purchase Agreement. The provisions of the Purchase Agreement, including the representations and warranties contained therein, are not for the benefit of any party other than the party signatories thereto and are not intended for investors and the public to obtain factual information about the current state of affairs of the parties to the Purchase Agreement. Also on January 11, 2026, and in connection with the Private Placement, the Company entered into a registration rights agreement with the Purchaser. Pursuant to the Registration Rights Agreement, the Company agreed to prepare and file a registration statement with the SEC within 15 days after the date of the Registration Rights Agreement for purposes of registering the resale of the Option Shares. The Company also agreed to use its best efforts to cause this registration statement to be declared effective by the SEC within 45 days after the date of the Registration Statement (or 75 days in the event of a "full review" of the registration statement by the SEC). If the Company fails to meet the specified filing deadlines or keep the Resale Registration Statement effective, subject to certain permitted exceptions, the Company will be required to pay damages to the Purchaser. The Company also agreed, among other things, to indemnify the selling holder under the Resale Registration Statement from certain liabilities and to pay all fees and expenses incident to the Company's performance of or compliance with the Registration Rights Agreement. The Company previously engaged H.C. Wainwright & Co., LLC ("Wainwright") to act as its exclusive placement agent in connection with the transactions described above. In consideration for its services, the Company paid Wainwright a cash fee equal to 7.0% of the aggregate gross proceeds received from the issuance of the Pre-Funded Warrants and Investment Options in the Private Placement. In addition, the Company paid Wainwright a management fee equal to 1.0% of the aggregate gross proceeds raised in the Private Placement and reimbursed Wainwright up to $50,000 for legal expenses and $25,000 for non-accountable expenses. The Engagement Letter includes indemnity and other customary provisions for transactions of this nature. The Company also issued to Wainwright or its designees placement agent unregistered preferred investment options to up to an aggregate of 271,845 shares of Common Stock at an exercise price of $1.2875 per share. The Placement Agent Options are exercisable immediately upon issuance and will expire on the fifth anniversary of the effective date of the Resale Registration Statement. Full text copies of the Forms of Pre-Funded Warrant, Series A-1 Preferred Investment Option, Series A-2 Preferred Investment Option, Placement Agent Preferred Investment Option, Securities Purchase Agreement, and Registration Rights Agreement are available at https://tinyurl.com/yszbhrrs, https://tinyurl.com/ybadd24t, https://tinyurl.com/53xyk3s9, https://tinyurl.com/mryskemz, https://tinyurl.com/kwvssabz, and https://tinyurl.com/2ujcbzyt, respectively. About Arcadia Biosciences Inc. Headquartered in Dallas, Texas, Arcadia Biosciences Inc. is a producer and marketer of innovative, plant-based health and wellness products. Since its inception in 2002, it has worked on creating next-generation wellness products, particularly by enhancing wheat with unique nutritional profiles, including increased fiber, improved protein quality, fewer calories, reduced gluten, and extended shelf stability. Their portfolio also includes Zola Coconut Water, a hydrating beverage that is Non-GMO, low in calories, and rich in electrolytes. The Company collaborates with food manufacturers to create healthier wheat-based products. Tempe, Arizona-based Deloitte & Touche LLP, the Company's auditor since 2007, issued a "going concern" qualification in its report dated March 26, 2026, citing that the Company has an accumulated deficit, recurring net losses and net cash used in operations, and resources that will not be sufficient to meet its anticipated cash requirements, which raises substantial doubt about its ability to continue as a going concern. As of March 31, 2026, the Company had $5.3 million in total assets, $2.4 million in total liabilities, and $2.9 million in total stockholders' equity. ATARA BIOTHERAPEUTICS: Director Brian Cherry Reports 38,320 Shares ------------------------------------------------------------------ Brian N. Cherry, a Director of Atara Biotherapeutics, Inc. (ATRA), disclosed in a Form 3 filed with the U.S. Securities and Exchange Commission that as of June 11, 2026, he beneficially owns 38,320 shares of Common Stock, held directly. No derivative securities were reported. A full text copy of Mr. Cherry's SEC report is available at https://tinyurl.com/42bcdfnm 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 Specialty 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 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 SPECIALTY CARE DISTRIBUTION CORPORATION (Sued as McKesson Specialty Distribution LLC), Defendant, Adv. Proc. No. 17-08266 (LGB)(Bankr. S.D.N.Y.). After a long and winding procedural journey, this adversary proceeding (the "Specialty Adversary 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 Specialty Care Distribution Corporation (the "Defendant" or "McKesson Specialty", and together with the Committee, the "Parties") comes to an end. This opinion shall resolve whether the various payments made from the Debtor to McKesson Specialty during the 90-day period prior to the Petition Date, April 20, 2015 through July 18, 2015 (the "Preference Period"), were preferential transfers, and whether McKesson Specialty has valid defenses to those allegations. McKesson Specialty was a subsidiary of McKesson Corporation that generally delivered specialty pharmaceutical products directly to physician practices for patient care. On July 13, 2017, the Plaintiff initiated this Specialty Adversary Proceeding by filing its Complaint against McKesson Specialty. The Complaint sought the avoidance and recovery of nine payments made by the Debtor to McKesson Specialty, totaling $102,872.33, 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 Specialty 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 or recoupment defense to the extent that McKesson Specialty provided goods or services to the Debtor after the Petition Date for which payment was never received. The Court has determined that none of the transfers are shielded from avoidance by other valid section 547(c) defenses. Thus, the Court will apply the subsequent new value defense under section 547(c)(4) (the "SNV Defense") to all of the transfers. The record indicates that The Great Atlantic & Pacific Tea Company, Inc. ("A&P") received new value in the form of goods delivered subsequent to the payment made to McKesson Specialty on April 30, 2015 valued at $19,439.37 and $9,670.25 on May 6, 2015 and May 13, 2015 respectively. A&P additionally received new value in the form of additional goods delivered subsequent to the payment made to McKesson Specialty on May 15, 2015 valued at $10,537.53 on May 21, 2015. A&P received a final provision of new value in the form of goods delivered subsequent to the payment made to McKesson Specialty on June 1, 2015 in the amount of $10,537.53 on June 17, 2015. Additionally, both McKesson Specialty and the Plaintiff agreed that the $52,687.65 total net preference exposure was the correct amount if only the SNV Defense was applied to the Preference Period transfers. The Plaintiff also asserts that the net preference exposure after applying the SNV Defense is understated by at least $9,670.25 because it includes that amount both as part of its ordinary course of business defense and as new value that reduces Pharmacy's preference liability. The Court disagrees and finds that the net preference exposure is not understated as the Court has already found that none of the transfers were shielded from avoidance by McKesson Specialty's ordinary course of business (or any other) defense. In summary, this Court rules as follows: 1. Each of the transfers in the McKesson Specialty Proceeding enabled McKesson Specialty 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 Specialty received payment on such debt to the extent provided by the provisions of the Bankruptcy Code. 2. None of the transfers in the McKesson Specialty Proceeding are shielded from avoidance on account of McKesson Specialty's Sec. 547(c)(2) ordinary course of business defense. 3. After accounting for McKesson Specialty's SNV Defense pursuant to Sec. 547(c)(4), the Plaintiff can, pursuant to Secs. 547 and 550, avoid and recover $52,687.65 from McKesson Specialty. A copy of the Court's Memorandum Opinion dated June 17, 2026, is available at https://urlcurt.com/u?l=DJimWd from PacerMonitor.com. Attorneys for McKesson Corporation: Jeffrey Garfinkle, Esq. BUCHALTER 18400 Von Karman Avenue Irvine, CA 92612 E-mail: jgarfinkle@buchalter.com Tracy Klestadt, Esq. KLESTADT WINTERS JURELLER SOUTHARD & STEVENS, LLP 200 West 21st Street, 17th Floor New York, NY 10036 E-mail: tklestadt@klestadt.com Attorneys for the Official Committee of Unsecured Creditors and Special Counsel for the Debtor: Michael Hamersky, Esq. Richard Milin, Esq. MILIN LAW PLLC 18 East 12th Street, 2nd Floor New York, NY 10003 E-mail: rmilin@milinlaw.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. BACCI CAFE: Court Extends Cash Collateral Access to July 14 ----------------------------------------------------------- Bacci Cafe & Pizzeria on Milwaukee Ave., Inc. received another extension from the U.S. Bankruptcy Court for the Northern District of Illinois, Eastern Division, to use cash collateral to fund operations. The court issued its sixth interim order extending the Debtor's authority to use the cash collateral of the U.S. Small Business Administration through July 14 in accordance with its budget, which projects total monthly operational expenses of $149,087. The SBA, a pre-bankruptcy secured lender, asserts a senior, valid blanket lien on the Debtor's assets and cash proceeds, securing debt of at least $141,859.00. Additional subordinate lienholders include Bill Me Later/WebBank and Funding Metrics. As adequate protection, the SBA and subordinate lienholders will be granted replacement liens on substantially all assets of the Debtor, maintaining the same priority and validity as their pre-petition liens, along with a potential administrative expense claim under section 507(b) of the Bankruptcy Code. The Debtor must comply with the reporting, inspection, insurance, and collateral maintenance obligations. A further hearing is scheduled for July 13. The interim order is available at https://shorturl.at/svuaq from PacerMonitor.com. About Bacci Cafe & Pizzeria on Milwaukee Ave Inc. Bacci Cafe & Pizzeria on Milwaukee Ave, Inc. filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. N.D. Ill. Case No. 25-19761) on December 30, 2025, listing between $50,001 and $100,000 in assets and between $1 million and $10 million in liabilities. Judge Michael B. Slade presides over the case. Richard G. Larsen, Esq., at Springer Larsen, LLC represents the Debtor as legal counsel. BESTWALL LLC: Opposes Trustee Appointment in Chapter 11 ------------------------------------------------------- Hayley Fowler of Law360 Bankruptcy Authority reports that Georgia-Pacific spinoff Bestwall has pushed back against a bid by asbestos claimants to install a Chapter 11 trustee, following revelations that the company is considering additional bankruptcy filings as part of its strategy for resolving asbestos-related liabilities. Asbestos claimants argued that reports of a possible new bankruptcy demonstrate that the company may be preparing to abandon its current case, which has been pending since 2017. They urged the court to appoint an independent trustee to oversee the proceedings and ensure transparency in negotiations. Bestwall disputed those assertions, stating that while various restructuring alternatives are being explored, the company has not decided to terminate or replace the existing Chapter 11 case. Company representatives maintained that management remains capable of guiding the case toward a consensual resolution, the report relays. About Bestwall LLC Bestwall LLC -- http://www.Bestwall.com/-- was created in an internal corporate restructuring and holds asbestos liabilities. Bestwall's asbestos liabilities relate primarily to joint systems products manufactured by Bestwall Gypsum Company, a company acquired by Georgia-Pacific in 1965. The former Bestwall Gypsum entity manufactured joint compounds containing small amounts of chrysotile asbestos; the manufacture of these asbestos-containing products ceased in 1977. Bestwall's non-debtor subsidiary, GP Industrial Plasters LLC ("PlasterCo"), develops, manufactures, sells and distributes gypsum plaster products, including gypsum floor underlayment, industrial plaster, metal casting plaster, industrial tooling plaster, dental plaster, medical plaster, arts and crafts plaster, pottery plaster and general purpose plaster. On Nov. 2, 2017, Bestwall sought Chapter 11 protection (Bankr. W.D.N.C. Case No. 17-31795) in an effort to equitably and permanently resolve all its current and future asbestos claims. The Debtor estimated assets and debt of $500 million to $1 billion. It has no funded indebtedness. The Hon. Laura T. Beyer is the case judge. The Debtor tapped Jones Day as bankruptcy counsel; Robinson, Bradshaw & Hinson, P.A., as local counsel; Schachter Harris, LLP as special litigation counsel for medicine science issues; King & Spalding as special counsel for asbestos matters; and Bates White, LLC, as asbestos consultants. Donlin Recano LLC is the claims and noticing agent. On Nov. 8, 2017, the U.S. bankruptcy administrator appointed an official committee of asbestos claimants in the Debtor's case. The committee retained Montgomery McCracken Walker & Rhoads, LLP as legal counsel; and Hamilton Stephens Steele + Martin, PLLC and JD Thompson Law as local counsel. On Feb. 22, 2018, the court approved the appointment of Sander L. Esserman as the future claimants' representative in the Debtor's case. Mr. Esserman tapped Young Conaway Stargatt & Taylor, LLP, as legal counsel; Hull & Chandler, P.A., as local counsel; Ankura Consulting Group, LLC, as claims evaluation consultant; and FTI Consulting, Inc., as financial advisor. BIG DIGITAL: Endeavor Blockchain, Kilgore Hold 30% Combined Stake ----------------------------------------------------------------- Endeavor Blockchain, LLC, Joshua Kilgore, Cody Smith, PM Squared, LLC, and Phillip Stanley disclosed in a Schedule 13D (Amendment No. 9) filed with the U.S. Securities and Exchange Commission that as of June 11, 2026, they beneficially own the following shares of Big Digital Energy, Inc.'s Common Stock, $0.001 par value, based on 5,521,252 Shares outstanding as of May 7, 2026, which is the total number of Shares outstanding as reported in the Company's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on May 14, 2026: * Endeavor Blockchain, LLC -- 1,550,000 shares representing 28.1% of the class. * Joshua Kilgore -- 1,558,000 shares representing 28.2% of the class. * Cody Smith -- 85,000 shares representing 1.5% of the class. * PM Squared, LLC -- 14,067 shares representing 0.3% of the class. * Phillip Stanley -- 14,067 shares representing 0.3% of the class. The Reporting Persons own an aggregate of 1,657,067 Shares, representing 30.0% of the Shares outstanding, as of June 12, 2026. Endeavor Blockchain may be reached through: Joshua Kilgore, Managing Member Endeavor Blockchain, LLC 5701 Euper Lane, Ste A Fort Smith, AR 72903 Tel: 479-420-8957 A full-text copy of Endeavor Blockchain's SEC report is available at: https://tinyurl.com/mdhmsxjr About Big Digital Energy Inc. Big Digital Energy, Inc. formerly known as Mawson Infrastructure Group Inc., is a U.S.-based technology company that designs, builds, and operates next-generation digital infrastructure platforms. The Company provides services spanning artificial intelligence, high performance computing, digital assets (including Bitcoin mining), and other intensive compute applications. The Company delivers both self-mining operations and colocation/hosting for enterprise customers, with a vertically integrated infrastructure model built for scalability and efficiency. Boston, Massachusetts-based Wolf & Company, P.C., the Company's auditor since 2023, issued a "going concern" qualification in its report dated March 31, 2026, attached to the Company's Annual Report on Form 10-K for the year ended December 31, 2025, citing that the Company has incurred net losses since its inception, and had negative working capital and will need additional funding to continue operations. This raises substantial doubt about the Company's ability to continue as a going concern. As of March 31, 2026, the Company had $48.4 million in total assets, $44 million in total liabilities, and $4.3 million in total stockholders' equity. BITCOIN DEPOT: Hires Vinson & Elkins LLP as Bankruptcy Counsel -------------------------------------------------------------- Bitcoin Depot Inc. and its affiliates seek approval from the U.S. Bankruptcy Court for the Southern District of Texas to hire Vinson & Elkins LLP as counsel. The firm will render these services: a. provide legal advice with respect to the Debtors' powers and duties as debtors in possession in the operation of their businesses and the management of estate property; b. advise and consult on the conduct of the Chapter 11 Cases, including all of the legal and administrative requirements of operating in chapter 11; c. attend meetings and negotiations with representatives of creditors and other parties in interest; d. prepare substantially all necessary motions, answers, orders, reports, and other legal papers on the Debtors' behalf in connection with the administration of their bankruptcy estates; e. advise the Debtors in connection with any potential sale(s) of assets and take necessary action(s) to guide the Debtors through such potential sale(s); f. advise the Debtors regarding tax matters; g. take all necessary actions to protect and preserve the Debtors' estates, including the prosecution of actions on the Debtors' behalf, defense of any action commenced against the Debtors, and representation of the Debtors in negotiations concerning litigation in which the Debtors are involved, including objections to claims filed against the Debtors' estates; h. analyze proofs of claim that may be filed against the Debtors and potential objections to such claims; i. represent the Debtors in connection with negotiating the terms of potential financing during the Chapter 11 Cases and obtaining authority for debtor-in-possession financing and the continued use of cash collateral; j. analyze certain executory contracts and unexpired leases and potential assumptions, assignments, or rejections of such contracts and leases; k. advise the Debtors with respect to corporate and certain litigation matters, including discovery requests, and matters related to the Bankruptcy Code's automatic stay as well as compliance with non-bankruptcy law; l. consult with the U.S. Trustee, the Committee, any other committees that may be appointed in these Chapter 11 Cases, and all other creditors and parties in interest concerning the administration of these Chapter 11 Cases; m. take action on the Debtors' behalf to obtain approval of a disclosure statement and confirmation of a chapter 11 plan; n. appear before the Court and any appellate courts to represent the interests of the Debtors' estates; and o. provide representation and all other legal services required by the Debtors in discharging their duties as debtors in possession or otherwise in connection with these Chapter 11 Cases. The firm will be paid at these rates: Partners $1,700 to $2,695 per hour Counsels $1,550 to $2,245 per hour Associates $920 to $1,580 per hour Paraprofessionals $645 to $685 per hour The Debtors paid the firm an initial advance retainer of $2,000,000. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. David S. Meyer, Esq., a partner at Vinson & Elkins LLP, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: David S. Meyer, Esq. Vinson & Elkins LLP 1114 Avenue of the Americas, 32nd Floor New York, NY 10036 Tel: (212) 237-0102 Fax: (917) 849-5337 E-mail: ghoward@velaw.com About Bitcoin Depot Inc. Bitcoin Depot, Inc. is a Delaware corporation with its principal place of business in Georgia that operates the largest cryptocurrency kiosk network in North America, claiming to operate more than 8,400 Bitcoin ATMs across the United States, Canada, and Puerto Rico. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 26-90528) on May 18, 2026. In the petition signed by W. Alexander Holmes, director, the Debtor disclosed up to $50 million in both assets and liabilities. Paul E. Heath, Esq., at Vinson & Elkins LLP, represent the Debtor as legal counsel. BNC SPECIAL: Case Summary & Five Unsecured Creditors ---------------------------------------------------- Debtor: BNC Special Acquisitions, LLC d/b/a ARC-1, LLC d/b/a ARC-II, LLC d/b/a ARC-III, LLC 101 Madison Plaza Hattiesburg, MS 39402 Business Description: BNC Special Acquisitions, LLC is a real estate holding company whose primary asset is tied to Hidden Oak Apartments, a 36-unit multifamily property at 1515 First Avenue in Jackson, Mississippi. Chapter 11 Petition Date: June 16, 2026 Court: United States Bankruptcy Court Southern District of Mississippi Case No.: 26-50980 Debtor's Counsel: Patrick Sheehan, Esq. SHEEHAN AND RAMSEY, PLLC 429 Porter Ave Ocean Springs, MS 39564 Tel: 228-875-0572 E-mail: Pat@sheehanramsey.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Brian M. Cronin as manager. A copy of the Debtor's list of its five unsecured creditors is available for free on PacerMonitor at: https://www.pacermonitor.com/view/N4SAUNA/BNC_Special_Acquisitions_LLC__mssbke-26-50980__0007.0.pdf?mcid=tGE4TAMA A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/GDMD4BA/BNC_Special_Acquisitions_LLC__mssbke-26-50980__0001.0.pdf?mcid=tGE4TAMA BREASHEARS ROOFING: Gets Interim OK to Use Cash Collateral ---------------------------------------------------------- Breashears Roofing received interim approval from the U.S. Bankruptcy Court for the District of Colorado to use cash collateral. The court approved the Debtor's use of cash collateral under a revised budget, allowing expenditures of up to $173,516.54 (including a 15% variance from budgeted expenses). This interim authority to use cash collateral expires on July 23. As adequate protection, Capital Community Bank, the U.S. Small Business Administration, and any other secured creditors claiming an interest in the Debtor's cash collateral will receive replacement liens on post-petition inventory and income generated by the business. The replacement liens will maintain the same relative priority as the creditors' pre-petition liens. Additional safeguards include keeping the collateral fully insured, maintaining it in good repair, and providing monthly financial reporting. All secured creditors retain their rights regarding claims and lien positions against the Debtor's assets. The Debtor must file a proposed six-month budget by July 8. A final hearing is scheduled for July 15, with objections due by June 29. About Breashears Roofing Breashears Roofing sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Colo. Case No. 26-14092) on June 8, 2026, with $100,001 to $500,000 in assets and $1 million to $10 million in liabilities. Judge Hon. Thomas B. Mcnamara oversees the case. The Debtor is represented by: Jonathan Dickey, Esq. Kutner Brinen Dickey Riley, P.C. Tel: 303-832-3047 Email: jmd@kutnerlaw.com BRIGHT SIDE: Hires Phillips & Thomas LLC as Bankruptcy Counsel -------------------------------------------------------------- Bright Side Plumbing LLC seeks approval from the U.S. Bankruptcy Court for the District of Kansas to hire Phillips & Thomas LLC as attorneys. The services to be rendered include providing the services needed in representing a Chapter 11 debtor-in-possession, which include: preparation of the bankruptcy forms and schedules, attendance at the Sec. 341 meeting and other court hearings, preparation of the disclosure statement and Chapter 11 plan, client conferences, filing monthly operating reports, phone calls, emails, dealing with creditors, and resolving confirmation issues. George J. Thomas will charge $350 per hour. The firm has received a retainer amount of $23,262, and a filing fee of $1,738. George J Thomas, Esq., a partner at Phillips & Thomas LLC, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: George J Thomas, Esq. Phillips & Thomas LLC 5251 W 116th Place, Suite 200 Leawood, KS 66211 Telephone: (913) 385-9900 Email: geojthomas@gmail.com 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. BROOKFIELD PROPERTIES: Capital Group Closes $210MM L.A HQ Deal -------------------------------------------------------------- Isabel Sami of L.A. Business First reports that the sale of Bank of America Plaza in downtown Los Angeles has officially closed, with Capital Group acquiring the landmark office tower for $210 million. The transaction represents the largest office property sale in Los Angeles County in more than two years. The 1.4 million-square-foot skyscraper changed hands through a court-supervised receivership after Brookfield defaulted on its $400 million mortgage. The tower's valuation had fallen significantly over the past decade, dropping to approximately $212.5 million in 2024 from more than $600 million previously. Chris Nielsen of Trigild managed the receivership process as court-appointed receiver. The transaction was brokered by a Colliers team representing the receivership estate, while JLL advised Capital Group throughout the acquisition. Capital Group said it will centralize its Los Angeles workforce at the property and make additional investments in the building. Company executives believe the acquisition reflects confidence in downtown Los Angeles and the long-term appeal of strategically located office assets. About Brookfield Properties Brookfield Properties -- https://www.brookfieldproperties.com/en.html -- is a multifamily services company, providing asset and property management across the North America. About Bank of America Plaza Bank of America Plaza is a 1.4 million-square-foot skyscraper owned by Brookfield Properties. It was placed under receivership after Brookfield defaulted on a $400 million loan. Despite being valued at more than $600 million a decade ago, the tower's most recent appraisal placed its worth at approximately $212.5 million. Chris Nielsen of Trigild served as the receiver during the sale process, with Colliers marketing the asset and JLL representing Capital Group. CHARLOTTE BUYER: Moody's Rates New $500MM Sr. Secured Notes 'B3' ---------------------------------------------------------------- Moody's Ratings assigned a B3 rating to Charlotte Buyer, Inc.'s (Charlotte Buyer, d/b/a Gentiva) proposed $500 million senior secured notes due 2031. There is no change to the company's B3 Corporate Family Rating and B3-PD Probability of Default Rating, B3 rating of the recently amended senior secured first lien credit facility, B3 rating of the company's existing senior secured first lien credit facilities and Caa2 rating of the existing second lien term loan. The outlook remains stable. The proceeds from the proposed senior secured notes, along with recently amended senior secured first lien term loan, will be used to pay down all outstanding balance on the existing secured first lien and second lien credit facilities. RATINGS RATIONALE Charlotte Buyer's B3 CFR reflects the company's very high financial leverage and heavy exposure to Medicare. The company's almost entire business portfolio is focused on hospice services, which is largely funded by Medicare. The hospice industry is highly fragmented and there is considerable competition from players of varying sizes. Partially offsetting some of these constraints, the company's ratings benefit from a geographically well-diversified business footprint in 36 states. In addition, the hospice industry has favorable long-term growth prospects driven by aging demographics. The stable outlook reflects Moody's expectations that Charlotte Buyer will operate with debt/EBITDA in the low-to-mid 7.0 times over the next 12 to 18 months and the company will maintain adequate liquidity. The amended $600 million senior secured first lien revolving credit facility, amended $1.96 billion senior secured term loan, and the proposed $500 million senior secured notes – all due in 2031 -- are rated B3. These instruments are rated at the same level as the company's Corporate Family Rating reflecting the preponderance of the senior secured first lien debt in the company's capital structure. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATING The ratings could be downgraded if the company's operating performance deteriorates, liquidity weakens, or if regulatory changes result in significant reimbursement rate cuts. Further, debt-funded shareholder distributions, large acquisitions or other aggressive financial policies could also result in a downgrade. The ratings could be upgraded if the company effectively manages its growth with prudent financial policies and demonstrates a track record of positive free cash flow generation. Increased scale and business line diversity could also support an upgrade. Further, the ratings could be upgraded if adjusted debt to EBITDA is sustained below 6.0 times. Headquartered in Atlanta, GA, Charlotte Buyer, Inc. (d/b/a "Gentiva") is a leading hospice provider in the US At the end of 2025, the company provided services in 476 locations in 36 states. Revenue was $2.1 billion for the twelve months that ended on March 31, 2026. Charlotte Buyer is majority-owned by private equity sponsor Clayton, Dubilier & Rice (CD&R). The principal methodology used in this rating 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. CHOICE ELECTRIC: Unsecureds to Get Share of Income for 5 Years -------------------------------------------------------------- Choice Electric, LLC, filed with the U.S. Bankruptcy Court for the District of Colorado a Disclosure Statement to accompany Plan of Reorganization dated June 12, 2026. The Debtor operates a full service electrical contracting business in Colorado, and has been providing services in new construction, repairs and service, tenant improvements, high-end residential homes, and electrical design since 2022. The Debtor is fully owned by Eric Berger. Mr. Berger, through the Debtor, purchased the Debtor's assets and (separately) real estate from Choice Electric Corp ("Corp.") and its individual owners, Robert Grassia, Cory Burris, and Dana Hoff on or around March 1, 2022, under a certain Asset Purchase Agreement and ancillary documents. The Debtor's business was stable following the purchase of the APA, but disputes arose concerning, among other things, a particular contract the Debtor continued after the APA, commonly referred to as the "Casa Bonita Project." As the Debtor continued work on the projects it bought from Corp., including the Casa Bonita Project, the parties to the APA disputed how the profits and losses from those projects should be split between them. This dispute culminated in litigation in Adams County District Court, Choice Electric Corporation, et al. v. Choice Electric, LLC et al., Case No. 2023CV31234 ("Adams County Case"), which commenced August 31, 2023. After a trial in late 2025, Corp. obtained a judgment against the Debtor in the amount of $1,767,044.60 on October 30, 2025. However, the disruption in business caused by that litigation and the judgment precipitated the Debtor's bankruptcy filing. On the Effective Date, the Debtor shall establish the Plan Payment Fund from which all Unsecured Claims will be paid. This date is projected to be September 1, 2026. The Debtor shall make periodic payments following the Effective Date from its operations over the five-year term of the Plan. Prior to depositing funds in the Plan Payment Fund, the Debtor shall accumulate a Working Capital Reserve, which is described in the Projections as Working Capital Funding, and once fully funded, will equal $500,000. Notably, the Projections assume that the Debtor will begin funding its working capital reserve with $42,000 in such account, so the Projections describe total deposits into the Working Capital Fund of $458,000 over the life of the Plan. Though the financial advice the Debtor has received indicates $800,000 to $1,000,000 is a reasonable range for a working capital reserve for a business of this size in the Debtor's industry, which is subject to months of negative cash flows and unexpected expenses, a more conservative Working Capital Reserve of $500,000 balances the Debtor's need to maximize value for its creditors and maintain its ability to weather the seasonality inherent in its business. The Class Fourteen Claimholders are holders of Allowed Unsecured Claims4 against the Debtor's Estate in the estimated total amount of $2,028,283.66, which number depends (1) on the extent to which certain Claims are determined to be Allowed or Disallowed by a Final Order, and (2) the extent to which the Claims comprising Class Fourteen are claims for funds held in trust by the Debtor. Several of the Class Fourteen Claimholders depicted in Exhibit A to the Plan have received the return of funds held in trust for their benefit that were not property of the Estate, which reduced their Claims. To the extent Class Fourteen Claimholders have received or later receive the return of trust funds, they shall not receive payment through Class Fourteen on account of such funds. The remaining claimants in Class Fourteen shall receive a pro rata distribution of the Debtor's Net Income over the course of the Plan once all Claims in Class Fourteen are determined by a Final Order. Class Seventeen consists of the equitable interests in the Debtor. The Class Seventeen Claimholder shall retain the equitable interest in the Debtor but receive no payment on account of the Class Seventeen Claim; provided, however, that as depicted in the Projections, distributions for tax purposes (described as "Partner Tax Distributions") shall be utilized by the Class Seventeen Claimholder for purposes tax liability associated with owning the Debtor. On the Effective Date, the Debtor shall establish the Plan Payment Fund from which all Unsecured Claims will be paid. This date is projected to be September 1, 2026. Following the Effective Date, the Debtor shall continue its operations, begin accumulating its Working Capital Reserve, begin paying Secured Claimholders as described in the Plan. The Debtor shall make periodic payments into the Plan Payment Fund following the Effective Date from the operation of its business as described herein and pay Unsecured Claimholders pro rata on an annual basis once all Allowed Claims are determined. The Debtor proposes to pay its Allowed General Unsecured Claims from its Net Income. A full-text copy of the Disclosure Statement dated June 12, 2026 is available at https://urlcurt.com/u?l=dSR0KY from PacerMonitor.com at no charge. Choice Electric, LLC, is represented by: Jeffrey A. Weinman, Esq. Brenton Gragg, Esq. Jeremy T. Jonsen, Esq. Michael Best & Friedrich LLP 675 15th Street, Suite 2000 Denver, CO 80202 Telephone: (720) 240-9515 Email: jeffrey.weinman@michaelbest.com About Choice Electric Choice Electric, LLC, established in 1985, is a full-service electrical contractor serving the Greater Denver area, including Lakewood, Aurora, Littleton, and Boulder, Colorado. The Company specializes in commercial and industrial projects, providing design and installation, system upgrades and tenant improvements, new construction wiring, and ongoing maintenance, while also offering custom electrical solutions for high-end residential homes. It serves a range of sectors, including commercial and office buildings, warehouses, entertainment venues, retail spaces, community facilities, airports, hangars, and municipal buildings. Choice Electric filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. D. Colo. Case No. 25-17873) on Dec. 1, 2025, listing up to $10 million in both assets and liabilities. The petition was signed by Eric Berger as general manager. Judge Thomas B. McNamara presides over the case. The Debtor tapped Jeffrey A. Weinman, Esq., at Michael Best & Friedrich LLP as counsel. CIMINO RE: Commences Chapter 11 Bankruptcy in New Jersey -------------------------------------------------------- On June 17, 2026, Cimino RE Holdings, LLC filed for Chapter 11 protection in the U.S. Bankruptcy Court for the District of New Jersey. According to court filings, the debtor reports $1,746,244 in debt owed to between 1 and 49 creditors. The exclusivity period for filing a Chapter 11 small business plan will terminate on December 14, 2026. A Chapter 11 small business plan is required to be filed by April 13, 2027. About Cimino RE Holdings, LLC Cimino RE Holdings, LLC is a limited liability company engaged in real estate holding and investment activities. Additional information regarding its operations was not disclosed in the bankruptcy petition. Cimino RE Holdings, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-17016) on June 17, 2026. In its petition, the debtor reported estimated assets of $990,000 and estimated liabilities of $1,746,244. Honorable Bankruptcy Judge Andrew B. Altenburg Jr. handles the case. The debtor is represented by Daniel L. Reinganum of Law Offices of Daniel Reinganum, PC. COCOBOWLZ LLC: Gets Final OK to Use Cash Collateral --------------------------------------------------- Cocobowlz, LLC received final approval from the U.S. Bankruptcy Court for the Northern District of Texas, Fort Worth Division, to use cash collateral. Under the final order, the Debtor may use cash collateral in accordance with its approved budget and may exceed individual budget line items by up to 10% without additional court approval. Funds allocated to estate professionals must remain in escrow until the court approves any fee applications, and the Debtor is prohibited from paying prepetition vendor claims. Lenders including the U.S. Small Business Administration, Fox Business Funding, JRG Funding, LLC, and Byzfunder NY, LLC claim broad security interests insubstantially all of the Debtor's assets, including accounts, inventory, receivables, and future receipts, which constitute cash collateral. As protection, the SBA and any other secured creditors that may assert liens in the cash collateral will be granted replacement liens on post-petition cash collateral, with the same validity, priority and extent as their pre-petition liens. In addition, the SBA will receive a monthly payment of $561. The order is available at https://shorturl.at/cJjhO Cocobowlz's financial distress stems from multiple pre-petition commercial loans and merchant financing arrangements, including obligations to the lenders. Additionally, JRG Funding has initiated litigation against the debtor and its principal in state court prior to the bankruptcy filing. The Debtor operates seven smoothie shop locations across South Carolina and also owns three affiliated LLCs involved in related smoothie operations and distribution activities. It continues to operate these locations, employs a mix of full-time and part-time staff, and pays significant monthly rent obligations across its leased storefronts, while remaining current on lease payments and intending to reaffirm those leases as part of its reorganization. About Cocobowlz LLC Cocobowlz, LLC operates seven smoothie shop locations across South Carolina and also owns three affiliated LLCs involved in related smoothie operations and distribution activities. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.S.C. Case No. 26-01678) on April 16, 2026, with $500,001 to $1 million in both assets and liabilities. Judge Elisabetta Gm Gasparini oversees the case. Robert A. Pohl, Esq., at Pohl, P.A. represents the Debtor as legal counsel. CORINTH AUTUMN: Trustee Taps Dechert LLP as Bankruptcy Counsel -------------------------------------------------------------- Stuart Walker, the Trustee for Corinth Autumn Oaks, L.P., seeks approval from the U.S. Bankruptcy Court for the Northern District of Texas to employ Dechert LLP as his counsel. The firm's services include: (a) advising the Trustee with respect to his powers and duties as trustee in possession in the management of the Debtor's businesses and affairs; (b) advising and consulting on the conduct of this chapter 11 case, including all of the legal and administrative requirements of administering this chapter 11 case; (c) attending meetings and negotiating with representatives of creditors and other parties in interest; (d) taking all necessary actions to protect, preserve, and maximize the value of the chapter 11 estate, including prosecuting actions on behalf of the chapter 11 estate, defending or prosecuting any action affecting the chapter 11 estate, and representing the Trustee in negotiations concerning litigation involving the chapter 11 estate, including objections to claims filed against the chapter 11 estate; (e) preparing pleadings in connection with this chapter 11 case, including motions, applications, answers, orders, reports, and papers necessary or otherwise beneficial to the administration of the chapter 11 estate; (f) representing the Trustee in connection with obtaining authority to continue using cash collateral and securing post-petition financing; (g) appearing before the Court and any appellate courts to represent the interests of the chapter 11 estate; (h) taking any necessary action on behalf of the Trustee to negotiate, prepare, and obtain approval of any sale transactions of some or all of the Debtor's assets; (i) taking any necessary action on behalf of the Trustee to negotiate, prepare, and obtain approval of a disclosure statement and confirmation of a chapter 11 plan and all documents related thereto; and (j) performing all other necessary legal services for the Trustee in connection with this chapter 11 case that the Trustee determines necessary and appropriate. Dechert's current customary hourly rates are: Partners $1,725 to $2,275 Associates $850 to $1,575 Paraprofessionals $155 to $605 As disclosed in the court filings, Dechert LLP is a "disinterested person" within the meaning of section 101(14) of the Bankruptcy Code, does not hold or represent an interest adverse to the Debtor's estate, and has no material connection to the Debtor, its creditors, or their related parties. The firm can be reached through: Marcus A. Helt, Esq. Jack G. Haake, Esq. Debbie E. Green, Esq. DECHERT LLP 2651 N. Harwood Street, Suite 120 Dallas, TX 75201 Telephone: (214) 453-4900 Email: marcus.helt@dechert.com jack.haake@dechert.com debbie.green@dechert.com About Corinth Autumn Oaks L.P. Corinth Autumn Oaks L.P. is a senior care community and a member of the National Association of Activity Professionals. As trained and specialized caregivers, Corinth Autumn Oaks provides personalized assistance in activities of daily living, supportive services, and compassionate care to its assisted living residents. Creditor Corinth AO GP, LLC filed involuntary Chapter 11 petition against Corinth Autumn Oaks (Bankr. N.D. Texas Case No. 24-44464) on December 2, 2024. The creditor is represented by: Gregory W. Mitchell, Esq. Freeman Law, PLLC 7011 Main Street Frisco TX 75034 Tel: (214) 924-3124 Email: gmitchell@freemanlaw.com Judge Edward L. Morris oversees the case. CRISP MOMENTUM: Net Loss Jumps to $4.6 Million in Fiscal Q3 ----------------------------------------------------------- Crisp Momentum Inc. has filed its Quarterly Report on Form 10-Q with the U.S. Securities and Exchange Commission, reporting a net loss of $4,563,146 for the three months ended April 30, 2026, compared to a net loss of $117,694 for the same period in the prior year. For the nine-month period ended April 30, 2026, the Company reported a net loss of $11,598,178, compared to a net loss of $452,843 in the corresponding prior-year period. Revenues for the three months ended April 30, 2026 were $175, compared to $no revenue in the prior-year period. Revenues for the nine months ended April 30, 2026 increased to $3,649 from $126 in the same period of the prior year. Additionally, at April 30, 2026, the Company had an accumulated deficit of $30,596,035 and a working capital surplus of $53,371. Crisp manages liquidity risk by reviewing, on an ongoing basis, our sources of liquidity and capital requirements. The Company had cash on hand of $100,538 at April 30, 2026. Although the Company intends to raise additional debt or equity capital, the Company expects to continue to incur significant losses from operations and have negative cash flows from operating activities for the near-term. These losses could be significant as operations ramp up along with continuing expenses related to compensation, professional fees, and regulatory fees. The Company has incurred significant losses since its inception and has not demonstrated an ability to generate sufficient revenues to achieve profitable operations. There can be no assurance that profitable operations will ever be achieved, or if achieved, could be sustained on a continuing basis. In making this assessment we performed a comprehensive analysis of our current circumstances including: our financial position, our cash flows and cash usage forecasts for the twelve months ended July 31, 2026, and our current capital structure including equity-based instruments and our obligations and debts. The Company has satisfied its obligations from the issuance of common stock and notes payable; however, there is no assurance that such successful efforts will continue during the 12 months subsequent to June 15, 2026, the date these consolidated financial statements are issued. If the Company does not obtain additional capital (debt and/or equity based financing), the Company will be required to reduce the scope of its business development activities or cease operations. The Company continues to explore obtaining additional capital financing and the Company is closely monitoring its cash balances, cash needs, and expense levels. These factors create substantial doubt about the Company's ability to continue as a going concern within the next 12 months. A full text copy of the Company's Form 10-Q is available at https://tinyurl.com/mtkrumey About Crisp Momentum Inc. Crisp Momentum Inc. is a U.S.-based global media and technology company focused on the creation, acquisition, and monetization of short-form scripted video content known as Duanju or "microdramas. Crisp develops and distributes professionally produced, high-quality short-form series through the Crisp platform as well as through third-party digital distribution partners worldwide. The Woodlands, TX-based M&K CPAs, PLLC, the Company's auditor since 2025, issued a "going concern" qualification in its report dated January 28, 2026, attached to the Company's Annual Report on Form 10-K for the year ended July 31, 2025, citing that the Company incurred recurring losses from operations and has an accumulated deficit, which raises substantial doubt about its ability to continue as a going concern. Company has a net loss and cash used in operations and has a significant accumulated, stockholders', and working capital deficit which raise substantial doubt about its ability to continue as a going concern. As of April 30, 2026, the Company had $1,336,045 in total assets, $1,282,674 million in total liabilities, and $53,371 in total stockholders' equity. CYPRESS BREWING: Hires Robert C. Nisenson as Bankruptcy Counsel --------------------------------------------------------------- Cypress Brewing LLC seeks approval from the U.S. Bankruptcy Court for the District of New Jersey to hire Robert C. Nisenson, LLC to handle the bankruptcy proceedings. The Debtor will pay a retainer of $13,274 and $1,726 for filing fees and will be billed at the rate of $400 per hour. Robert C. Nisenson LLC is a disinterested person under 11 U.S.C. Sec. 101(14), according to court filings. The firm can be reached through: Robert C. Nisenson, Esq. ROBERT C. NISENSON, LLC 10 Auer Court East Brunswick, NJ 08816 Tel: (732) 238-8777 Email: r.nisenson@rcn-law.com About Cypress Brewing LLC Cypress Brewing LLC sought protection for relief under Chapter 11 of the Bankruptcy Code (Bankr. D.N.J. Case No. 26-16281) on June 2, 2026, listing $100,001 to $500,000 in assets and $50,001 to $100,000 in liabilities. Robert C. Nisenson, Esq. at Robert C. Nisenson, LLC serves as the Debtor's counsel. D&Z MEDIA: Gets OK to Use Cash Collateral Until July 31 ------------------------------------------------------- The U.S. Bankruptcy Court for the District of Minnesota authorized D&Z Media, LLC to use cash collateral through July 31. The approval allows the Debtor to fund operations in accordance with its budget while continuing its reorganization efforts. Under the interim order, the Debtor is authorized to provide adequate protection to Vermillion State Bank and other secured creditors through replacement liens on post-petition assets similar to their pre-petition collateral. The replacement liens retain the same priority, dignity, and effect as the creditors pre-petition liens and do not apply to any avoidance actions or other claims arising under Chapter 5 of the Bankruptcy Code. As additional protection, the Debtor is required to pay $2,300 to Vermillion pursuant to their prior stipulation. The order is available at https://is.gd/TToK3u from PacerMonitor.com. Vermillion State Bank and Wellen Capital, LLC hold secured claims of approximately $675,000 and $44,864, respectively, against substantially all of the Debtor's personal property. Another creditor, Rapid Finance, also holds a lien on the collateral although the amount of its claim is unknown. As of the petition date, the Debtor held approximately $100 in deposit accounts, with future receivables from advertising and a shopping show expected to be its primary source of funds. The Debtor projects cash balances of approximately $4,000 by the final hearing and $10,000 by July 31, subject to fluctuations based on payroll, rent, and other major expenses. About D&Z Media LLC D&Z Media, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Minn. Case No. 26-31551) on May 11, 2026, with up to $50,000 in assets and $500,001 to $1 million in liabilities. Steven Nosek serves as Subchapter V trustee for the Debtor. Judge William J. Fisher presides over the case. Mary Sieling, Esq., at Sieling Law, PLLC represents the Debtor as bankruptcy counsel. DEEJAYZOO LLC: Hires Cullen and Dykman LLP as Bankruptcy Counsel ---------------------------------------------------------------- Deejayzoo LLC, doing business as Shhhowercap, seeks approval from the U.S. Bankruptcy Court for the Eastern District of New York to employ Cullen and Dykman LLP as counsel. The firm's services include: (a) advising the Debtor with respect to its powers and duties in the continued operation of its business and management of its affairs as a debtor and debtor-in-possession; (b) representing the Debtor before this Court, and any other court of competent jurisdiction, on matters pertaining to its affairs as a debtor and debtor-in-possession, including prosecuting and defending litigated matters that may arise during this Chapter 11 case; (c) advising and assisting the Debtor in the preparation and negotiation of a plan of reorganization with its creditors and other parties in interest; (d) advising the Debtor in connection with financing matters; (e) advising the Debtor in connection with the sale of its assets; (f) advising the Debtor with respect to any leases and agreements and its obligations and rights thereunder; (g) advising the Debtor on legal issues related to its reorganization; (h) preparing all necessary or appropriate applications, motions, complaints, answers, orders, reports and other legal documents; (i) advising and performing legal services in connection with such litigations as may be necessary or appropriate; (j) performing all other legal services for the Debtor that may be desirable and necessary in this Chapter 11 case; and (k) taking all necessary actions to protect and preserve the value of the estate of the Debtor and other related matters. The firm's current customary hourly rates are: Members and Counsel $435 to $945 Associates $280 to $570 Paraprofessionals $150 to $280 The firm received a post-petition retainer in the amount of $25,000. Cullen and Dykman LLP is a "disinterested person" within the meaning of Section 101(14) and 327(a) of the Bankruptcy Code, according to court filings. The firm can be reached through: Matthew G. Roseman, Esq. CULLEN AND DYKMAN LLP The Omni Building 333 Earle Ovington Blvd, 2nd Fl. Uniondale, NY 11553 Phone: (516) 296-9106 Email: mroseman@cullenllp.com About Deejayzoo LLC Deejayzoo LLC develops and markets SHHHOWERCAP, a reusable and innovative shower cap designed to replace disposable alternatives. The product is waterproof, humidity-defying, antibacterial, fits all hair types, and machine washable. The Company operates from its headquarters in Brooklyn, New York, and is led by founder Jacquelyn De Jesu. Deejayzoo LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.Y. Case No. 25-42617) on May 28, 2025. In its petition signed by Jacquelyn De Jesu, president, the Debtor disclosed total assets of $12,166 and total liabilities of $2,846,653. Honorable Bankruptcy Judge Nancy Hershey Lord handles the case. The Debtor is represented by Alla Kachan, Esq., at the Law Offices of Alla Kachan, P.C. DIAMOND ELITE: Taps Law Offices of Mitchell J. Canter as Counsel ---------------------------------------------------------------- Diamond Elite Albuquerque LLC seeks approval from the U.S. Bankruptcy Court for the Southern District of New York to hire Law Offices of Mitchell J. Canter as its bankruptcy counsel. The firm's services include: (a) providing the Debtor with legal advice with respect to its powers and duties in the continued operations of its business and management of its property; (b) preparing legal papers; (c) assisting the Debtor in negotiating a Chapter 11 plan of reorganization with its creditors and performing all legal services necessary to obtain creditor approval, confirmation and implementation of such a plan; and (d) providing other necessary legal services related to the Debtor's Chapter 11 case. The services will be rendered at an hourly rate of $500. The Law Offices of Mitchell J. Canter received an initial retainer of $20,000, plus $1,738 filing fee. As disclosed in court filings, the Law Offices of Mitchell J. Canter does not represent any interest adverse to the estate of the Debtor. The firm can be reached through: Mitchell J. Canter, Esq. Law Offices of Mitchell J. Canter 100 Airport Executive Park, Suite 103 Nanuet, NY 10954 Phone: (845) 371-7500 Email: Mitchell@mitchellcanterlaw.com About Diamond Elite Albuquerque LLC Diamond Elite Albuquerque LLC is a privately held company believed to be involved in hospitality, lodging or real estate investment operations in Albuquerque, New Mexico. Diamond Elite Albuquerque LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Case No. 26-35494) on May 6, 2026. In its petition, the debtor reported estimated assets between $10 million and $50 million and estimated liabilities between $10 million and $50 million. Honorable Bankruptcy Judge Kyu Young Paek handles the case. The debtor is represented by Mitchell J. Canter, Esq. of the Law Offices Of Mitchell J. Canter. DIGGERS EXCAVATION: Gets OK to Use Cash Collateral Until July 31 ---------------------------------------------------------------- The U.S. Bankruptcy Court for the Eastern District of North Carolina, New Bern Division, entered a third interim order authorizing Diggers Excavation and Grading, Inc. to use cash collateral. Under the third interim order, the Debtor is authorized to use cash collateral in accordance with an approved budget covering the period from July 1 through July 31, with a 10% variance permitted for individual budget line items. The authority remains effective unless superseded by another cash collateral order, terminated for cause, or expires on June 30. The Debtor projects total operational expenses of $38,520.48 for the period from July 1 to July 31. As adequate protection, secured creditors will be granted liens extending to post-petition assets to the extent they held valid and enforceable pre-petition liens. However, the order preserves the rights of the Debtor and other parties to challenge the validity, enforceability, or priority of any pre-petition liens. The order also provides that these protections survive modification, conversion to Chapter 7, or dismissal of the bankruptcy case. The Debtor is further required to remain current on all post-petition tax obligations, including payroll and sales taxes, and may not dispose of assets outside the ordinary course of business without consent or court approval. A continued hearing is scheduled for July 8. About Diggers Excavation and Grading Inc. Diggers Excavation and Grading Inc is a construction services company engaged in excavation, grading, and demolition for residential and commercial projects. Diggers Excavation and Grading sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.C. Case No. 26-01783) on April 21, 2026, with $100,001 to $500,000 in assets and $500,001 to $1 million in liabilities. Bobbie Lisa Ayala, president of Diggers Excavation and Grading, 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. DIOCESE OF EL PASO: Hires Captivate Minds as Noticing Consultant ---------------------------------------------------------------- The Catholic Diocese of El Paso seeks approval from the U.S. Bankruptcy Court for the Western District of Texas to hire Captivate Minds Marketing, LLC as noticing consultant. The firm will provide notices and utilize other marketing methods throughout Texas and the United States of America to locate potential claimants, including putative abuse survivors. The firm will render these services: a. develop, plan, and execute newspaper and print advertising campaigns to disseminate public notices regarding this Chapter 11 case at the local, regional, and national level; b. plan and manage digital advertising campaigns across Google Ads (including Search and Display) and Meta platforms (including Facebook and Instagram); c. develop all advertising creative and materials; d. provide structured reporting and coverage analysis comparing combined print and digital impressions against target population to verify adequate reach; e. design and execute a national outreach campaign to reach potential claimants, including Putative Abuse Survivors, who may reside outside the Diocese's geographical footprint; and f. provide such other marketing, advertising, and public notice services as may be requested from time to time by the Diocese or as directed by the Court. The Diocese is required to pay Captivate an initial retainer fee in the total amount of $154,494 payable in two $77,247 tranches. As disclosed in the court filings, Captivate is a "disinterested person" as that term is defined in section 101(14) of the Bankruptcy Code, as modified by section 1107(b) of the Bankruptcy Code. The firm can be reached through: Tobias Wilhelm Captivate Minds Marketing LLC 1233 Barrister St Alexandria, LA 71301 Phone: (318) 545-1600 About Roman Catholic Diocese of El Paso, Texas Roman Catholic Diocese of El Paso, Texas oversees parishes and Catholic institutions in the El Paso region. Roman Catholic Diocese of El Paso, Texas sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Tex. Case No. 26-30311) on March 6, 2026. In its petition, the Debtor reports estimated assets between $10 million and $50 million and estimated liabilities between $1 million and $10 million. Honorable Bankruptcy Judge Christopher G. Bradley handles the case. The Debtor is represented by Lynn Hamilton Butler, Esq. of Husch Blackwell LLP. DOLPHIN SHORES: Wins Interim Cash Collateral Access --------------------------------------------------- Dolphin Shores Investments, LLC received third interim approval from the U.S. Bankruptcy Court for the Eastern District of North Carolina to continue using cash collateral. Under the third interim order, the Debtor is authorized to use cash collateral solely in accordance with a court-approved budget. Any use of cash collateral outside the approved budget requires the express written consent of secured creditors. The Debtor projects total operational expenses of $8,172 for June. The court recognized that secured lenders -- Athene Annuity and Life Co., Naikan I SPV, LLC, OneIM RTL, LTD., Tryon Street Acquisition Trust I, and Churchill Funding I, LLC -- may hold liens on Building F, rental income, and other cash collateral. As adequate protection, the secured creditors' liens were extended to post-petition assets to the same extent they existed on the petition date, while preserving the Debtor's and other parties' rights to challenge the validity or priority of those liens. The court also provided that the protections granted to the secured creditors will remain effective even if the order is later modified, vacated, or if the bankruptcy case is converted to Chapter 7 or dismissed, provided the underlying liens were valid and enforceable as of the petition date. The order is available at https://is.gd/aux4RG from PacerMonitor.com. The court scheduled a continued hearing for June 30. About Dolphin Shores Investments Dolphin Shores Investments LLC is a single asset real estate company in Wilmington, N.C. Dolphin Shores Investments sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.C. Case No. 25-04467) on November 9, 2025. In its petition, the Debtor reported between $10 million and $50 million in both assets and liabilities. Honorable Bankruptcy Judge David M. Warren handles the case. The Debtor is represented by Clayton W. Cheek, Esq., at Cheek Legal, PLLC. DYNAMIC TRANSPORT: Unsecureds to Split $250K via Quarterly Payments ------------------------------------------------------------------- Dynamic Transport Service, Inc. filed with the U.S. Bankruptcy Court for the Middle District of Florida a Plan of Reorganization dated June 11, 2026. The Debtor is a trucking company located in Hillsborough County. The Debtor has transported parcels, packages, medical equipment and supplies, office equipment, and household furniture throughout Tampa, Florida and the surrounding areas since 2015. In late 2024, the Debtor began phasing out its fleet of vehicles and moved to an owner-operator model. The Plan under Chapter 11 of the Bankruptcy Code proposes to pay creditors of the Debtor from the Debtor's current and future earnings. This Plan provides for five classes of secured claims; one class of general unsecured claims; and one class of equity security holders. Unsecured creditors holding allowed claims will receive a pro rata distribution on their allowed claim over five years. 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 6 consists of General Unsecured Claims. Claimants will be paid their pro rata share of $250,000.00 in twenty quarterly payments of $12,500.00 without interest, with the caveat that no claimant shall receive more than 100% of its allowed claim. Payments shall commence on the calendar quarter immediately following the Effective Date of the Plan and continuing quarterly thereafter. In the event that this quarter starts less than thirty days after the Effective Date of the Plan, payment shall not commence until the following quarter. 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. Class 7 consists of Equity Security Holders of the Debtor. Equity will retain ownership in the Debtor post-confirmation. No distributions will be made to equity until such time as all payments in Class 5 have been made. Lawrence Saputo and Katherine Montenegro-Saputo will continue to manage the Debtor post-confirmation. Mr. Saputo will receive annual compensation of $33,200.00 from the Debtor. Ms. Montenegro-Saputo will receive annual compensation of $120,000.00 from the Debtor. The Plan will be funded by the continued operations of the Debtor. A full-text copy of the Plan of Reorganization dated June 11, 2026 is available at https://urlcurt.com/u?l=rNWQu2 from PacerMonitor.com at no charge. Counsel to the Debtor: 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 Dynamic Transport Service Inc. Dynamic Transport Service, Inc. is a trucking company located in Hillsborough County. The Debtor filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. M.D. Fla. Case No. 26-01977) on March 13, 2026, with $50,001 to $100,000 in assets and $100,001 to $500,000 in liabilities. Kathleen DiSanto, Esq., at Bush Ross, P.A., serves as Subchapter V trustee for the Debtor. Judge Caryl E. Delano presides over the case. By Buddy D. Ford, Esq., at Ford & Semach, P.A. represents the Debtor as legal counsel. ENI DIST: Hires Lee Oh & Noh CPAs PLLC as Valuation Expert ---------------------------------------------------------- ENI DIST, Inc. seeks approval from the U.S. Bankruptcy Court for the District of Maryland to employ Lee, Oh & Noh CPAs, PLLC as a valuation expert. The firm will render these services: a. perform a business valuation of the Debtor and its assets, including a review of the Debtor's financial records, accounts receivable, inventory, equipment, vehicles, cash balances, deposits, and other relevant financial information; b. prepare a written valuation report setting forth the CPA's opinion of the value of the Debtor and its assets; c. provide such analysis, consultation, and testimony as may be necessary in connection with this case, including in connection with the Debtor's Plan of Reorganization, Disclosure Statement, and Liquidation Analysis; and d. perform such other related valuation and accounting services as may be necessary in connection with this case. The CPA's services are billed at the rate of $150 per hour for professional services, and $250 per hour for court appearances, depositions, or testimony. Lee, Oh & Noh CPAs, PLLC does not hold or represent an interest adverse to the estate, according to court filings. The firm can be reached through: Seung Jae Lee, CPA Lee, Oh & Noh CPAs, PLLC 1300 Spring Street, Suite 220 Silver Spring, MD 20910 Telephone: (301) 593-1744 About ENI DIST Inc. ENI DIST Inc. imports and distributes Asian food products from South Korea and Southeast Asia. The Company supplies dry, refrigerated, and frozen goods to wholesale distributors, chain retailers, foodservice distributors, and independent supermarkets. It operates a warehouse for handling various product types and offers both local and container drop shipment services across the United States. ENI DIST sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Md. Case No. 25-17220) on August 6, 2025. In its petition, the Debtor reported between $10 million and $50 million in assets and liabilities. Judge Michelle M. Harner oversees the case. The Debtor tapped Weon G. Kim Law Office as counsel and Korus Group Inc. as accountant. EQUIPMENTSHARE.COM INC: Moody's Rates New Second Lien Notes 'B3' ---------------------------------------------------------------- Moody's Ratings assigned a B3 rating to EquipmentShare.com Inc's (EquipmentShare) planned issuance of senior secured second lien notes maturing in 2034. The company's ratings remain unchanged, including its B1 corporate family rating, B1-PD probability of default rating, Ba2 senior secured ABL revolving credit facility rating, and B3 senior secured notes rating. The outlook is stable. The transaction adds more permanent debt to EquipmentShare's capital structure. However, it is leverage neutral and enhances the company's liquidity, as EquipmentShare plans to use proceeds from the new notes to repay ABL borrowings, pay related transaction expenses and for general corporate purposes. RATINGS RATIONALE EquipmentShare's B1 CFR reflects its good scale in terms of revenue and its position as the fourth largest rental equipment company in the US. Moody's expects that revenue will exceed $5 billion in 2026 as the company continues to experience rapid and largely organic growth. Also supporting growth will be EquipmentShare's OWN program, where assets of equipment owners are rented out in exchange for a share of revenue. However, EquipmentShare has a short history operating at such a large scale and Moody's believes there is execution risk associated with the anticipated pace of equipment and branch expansion. Moody's believes EquipmentShare faces execution risk as the company continues to rapidly increase its footprint in the US. The company has a goal of having 700 sites by 2030, up from 407 as of March 31, 2026. The company also has high leverage and Moody's expects adjusted debt/EBITDA to be roughly 5.0x by the end of 2027. Leverage has increased over time as the OWN program has grown and resulted in lower EBITDA margin. Finally, Moody's expects the company will continue to have negative free cash flow (inclusive of proceeds of rental equipment) resulting from large capital investment in fleet growth and branch expansion. Moody's expects EquipmentShare to have adequate liquidity over the next 12 to 18 months, supported by its $2.75 billion ABL, subject to borrowing base which is below the committed amount. Proceeds for the planned note offering will be used to reduce ABL borrowings and improve liquidity. Moody's expects the company's significant capital spending to support growth to drive meaningful cash outflows, resulting in continued reliance on the ABL. At the same time, Moody's expects the company to maintain a minimum cash balance of around $300 million. Each of the company's wholly-owned direct and indirect domestic existing and future wholly owned subsidiaries that guarantee obligations under the asset based lending (ABL) credit facility will also guarantee the senior secured second lien notes. The ABL has a fixed charge coverage covenant of 1.0x which is tested under specific conditions. Moody's do not expect the ABL covenant to be tested over the next 12 to 18 months. EquipmentShare's assets are pledged to the senior secured credit facilities and proceeds from asset sales are available to be reinvested into the business. The stable outlook reflects Moody's expectations that revenue will grow organically in the double digits in 2026 and 2027. With significant capex needs and lower EBITDA margin, debt/EBITDA will remain high at roughly 5.0x by the end of 2027. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATING The rating could be upgraded if EquipmentShare establishes a longer track record of operating performance growing its size and scale while maintaining profitability. In addition, Moody's would expect the company to reduce and sustain debt/EBITDA to below 4.0x and good liquidity. The rating could be downgraded if EquipmentShare's debt/EBITDA was sustained above 5.5x. A downgrade could also occur if liquidity weakens, including an inability to maintain liquidity of at least $500 million all times when considering available cash and ABL availability. Adoption of more aggressive financial policies, including distributions to shareholders or debt financed acquisitions that increase leverage could result in a downgrade. The principal methodology used in this rating was Equipment and Transportation Rental published in October 2025. EquipmentShare.com Inc, headquartered in Columbia, Missouri, is an equipment rental and asset management company. EquipmentShare operates 407 rental locations, 24 building material locations and nine dealerships across 45 states. The company became public in January 2026, yet remains controlled and majority owned by its founders and other investors. For the trailing 12 months ended December 31, 2025, the company generated nearly $4.4 billion of revenue, including $1.5 billion from the sale of rental equipment, including sales to the OWN program. FACILAI LLC: Hires Kornfield Nyberg Bendes Kuhner as Attorney ------------------------------------------------------------- Facilai, LLC seeks approval from the U.S. Bankruptcy Court for the Northern District of California to hire Kornfield, Nyberg, Bendes, Kuhner & Little, P.C. as counsel. The firm will render these services: a. give Debtor legal advice with respect to its powers and duties as debtor-in-possession and the continued operation of its business and management of its assets; b. prepare on behalf of applicant, as debtor-in-possession, the necessary motions, applications, answers, orders, reports and other legal papers required to be filed in this bankruptcy case; c. prepare and prosecute plan of reorganization in this Chapter 11 bankruptcy; and d. perform all other legal services for Debtor which may be necessary in this case. The firm's hourly rates are: Eric A. Nyberg, Partner $525 Chris D. Kuhner, Partner $525 Sarah L. Little, Partner $500 Gail Michael, Paralegal $75 Madison Lampi, Paralegal $75 The firm received a pre-petition retainer in the amount of $45,000. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Chris D. Kuhner, Esq., a partner at Kornfield, Nyberg, Bendes, Kuhner & Little, P.C., disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Chris D. Kuhner, Esq. Kornfield, Nyberg, Bendes, Kuhner & Little, P.C. 1970 Broadway, Suite 600 Oakland, CA 94612 Tel: (510) 763-1000 Fax: (510) 273-8669 Email: c.kuhner@kornfieldlaw.com 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, LLC 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. of Kornfield Nyberg Bendes Kuhner & Little. FINCH PROPERTY: Cash Collateral Hearing Set for June 26 ------------------------------------------------------- The U.S. Bankruptcy Court for the Northern District of Illinois, Eastern Division, is set to hold a hearing on June 26 to consider extending Finch Property Chicago, LLC's authority to use cash collateral. The Debtor is currently authorized to use cash collateral under the court's June 12 interim order, which remains in effect through June 29. Under the interim order, the Debtor is allowed to utilize its cash for the expenses listed on the court-approved budget, which shows total monthly operational expenses of $2,900. The interim order granted Loan Funder, LLC adequate protection through a monthly contractual interest payment of $1,310.36 and a replacement lien on the Debtor's pre-petition and post-petition property, with the same extent, validity, and priority as its pre-petition liens. Additional safeguards include insurance coverage on the lender's collateral. The Debtor believes Loan Funder is the only creditor with a potential security interest in rental income from its real property or other cash collateral but requires additional time to verify the amount owed under the lender's claim. The Debtor owns real property located at 5005 W. Chicago Avenue in Chicago, Illinois, which has an estimated value of approximately $391,000, based on a June 2026 market analysis. Loan Funder, as secured lender, is represented by: Timothy R. Yueill, Esq. Law Offices of Ira T. Nevel, LLC 175 N. Franklin St., Ste. 201 Chicago, IL 60606 Phone: 312-357-1125 TimothyY@nevellaw.com About Finch Property Chicago LLC Finch Property Chicago, LLC filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. N.D. Ill., Case No. 26-08890) on May 25, 2026, with $100,001 to $500,000 in both assets and liabilities. Matthew Brash of Newpoint Advisors Corporation serves as Subchapter V trustee for the Debtor. Judge Nancy A. Peterman presides over the case. Penelope N. Bach, Esq., at Bach Law Offices represents the Debtor as bankruptcy counsel. FINCH PROPERTY: Hires Bach Law Offices Inc as Bankruptcy Counsel ---------------------------------------------------------------- Finch Property Chicago LLC seeks approval from the U.S. Bankruptcy Court for the Northern District of Illinois to hire Bach Law Offices, Inc. as its attorneys. The firm will render these services: (a) negotiate with creditors; (b) prepare a plan and disclosures statement; (c) examine and resolve claims filed against the estate, preparation and prosecution of adversary matters; and (d) represent the Debtor in matters before this Court. The firm's attorneys will be paid at these hourly rates: Paul Bach, Esq. $425 Penelope Bach, Esq. $425 The firm's initial retainer and the court costs were paid in the amount of $10,000 plus the filing fee of $1,738. Mr. Bach disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Paul M. Bach, Esq. Bach Law Offices, Inc. P.O. Box 1285 Northbrook, IL 60062 Telephone: (847) 564-0808 About Finch Property Chicago LLC Finch Property Chicago, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 26-08890) on May 25, 2026, with $100,001 to $500,000 in assets and liabilities. Judge Nancy A. Peterman presides over the case. Penelope N. Bach, Esq. at Bach Law Offices represents the Debtor as legal counsel. FREEDOM FOREVER: Comm. Hires Dundon Advisers as Financial Advisor ----------------------------------------------------------------- The official committee of unsecured creditors of Freedom Forever LLC seeks approval from the U.S. Bankruptcy Court for the District of Delaware to employ Dundon Advisers LLC as its financial advisor. The firm will provide these services: a. assist in the analysis, review, and monitoring of the restructuring process, including, but not limited to, an assessment of the unsecured claims pool and potential recoveries for unsecured creditors; b. assist in the sales process for the assets of the Debtors; c. develop a complete understanding of the Debtors' businesses and their valuations; d. determine whether there are viable alternative paths for the disposition of the Debtors' assets from those currently or in the future proposed by any Debtor; e. assist the Committee in identifying, valuing, and pursuing estate causes of action, including, but not limited to, relating to prepetition transactions, control person liability, and lender liability; f. advise the Committee in negotiations with the Debtors, financial partners, and certain of the Debtors' lenders; g. assist the Committee in reviewing the Debtors' financial reports; h. review and provide analysis of the present and any subsequently proposed debtor-in-possession financing or use of cash collateral; i. assist the Committee in evaluating and analyzing avoidance actions, including fraudulent conveyances and preferential transfers; j. assist the Committee in investigating whether any unencumbered assets at Freedom Forever LLC, or any of its affiliated Debtors exist; k. attend meetings and assist in discussions with the Committee, the Debtors, the secured lenders, the U.S. Trustee and other parties in interest and professionals; l. present at meetings of the Committee, as well as meetings with other key stakeholders and parties; m. perform such other advisory services for the Committee as may be necessary or proper in these proceedings, subject to the aforementioned scope. The firm will be paid at these rates: Through Post June 30, 2026 June 30, 2026 Principal $1,090 $1,220 Managing Director $960 $1,220 Senior Advisor $960 $1,220 Senior Director $850 $970 Director $755 $865 Associate Director $650 $750 Senior Associate $495 $550 Associate $350 $390 In addition, the firm will seek reimbursement for its out-of-pocket expenses. Steve Narsutis, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Steve Narsutis Dundon Advisers, LLC 565 Fifth Avenue, 16th Floor New York, NY 10017 Tel: (212) 859-2000 Fax: (212) 202-4437 Email: sn@dundon.com About Freedom Forever LLC Freedom Forever LLC is a Temecula, California-based residential solar installation company that serves homeowners in more than 30 states. It operates as an engineering, procurement and construction platform, providing solar panel installation, energy storage and financing services through employees and independent authorized dealers. The company also offers proprietary software that supports project visibility, permitting and customer transparency. Freedom Forever LLC sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Del. Case No. 26-10522) on April 15, 2026. At the time of the filing, Freedom Forever had estimated assets of between $100,000,001 to $500 million and liabilities of between $500,000,001 to $1 billion. Judge Brendan Linehan Shannon oversees the case. The Debtors tapped Morris, Nichols, Arsht & Tunnell LLP as bankruptcy counsel; Holland & Hart LLP and Landis Rath & Cobb LLP as special counsel; and Berkeley Research Group, LLC as financial advisor. Kroll Restructuring Administration LLC is the Debtors' administrative advisor. GLOBAL DAIRY: Case Summary & One Unsecured Creditor --------------------------------------------------- Debtor: Global Dairy Services, Inc. d/b/a MRV Dairy Solutions 5470 Kietzke Lane, Suite 339 Reno, NV 89511 Business Description: Global Dairy Services, Inc., doing business as MRV Dairy Solutions, is an independent third-party dairy procurement consulting and category management company operating throughout the forty-eight contiguous United States. The company provides services including dairy market intelligence, strategic sourcing, supplier evaluation, contract negotiation, procurement support, contract administration, supplier performance management, risk management, and market forecasting. It serves customers in sectors including foodservice, retail, manufacturing, distribution, hospitality, and institutional markets. Global Dairy Services, Inc. was formed in 2006, and its predecessor operations trace to dairy purchasing advisory services begun in 1996. Chapter 11 Petition Date: June 17, 2026 Court: United States Bankruptcy Court District of Nevada Case No.: 26-50620 Debtor's Counsel: Tory Pankopf, Esq. TORY M. PANKOPF LTD. 748 S Meadow Pkwy #244 Reno, NV 89521 Tel: (775) 413-4242 E-mail: tory@pankopfuslaw.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Rey Rivera as owner. The Debtor listed Jeffrey Dejesse, of Yorba Linda, California, as its sole unsecured creditor, holding a judgment claim. A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/VUCTLYI/Global_Dairy_Services_Inc__nvbke-26-50620__0001.0.pdf?mcid=tGE4TAMA GREEN EAGLE CAPITAL: Commences Chapter 7 Bankruptcy --------------------------------------------------- On June 9, 2026, Green Eagle Capital Raleigh, LLC filed for Chapter 7 protection in the U.S. Bankruptcy Court for the Eastern District of North Carolina. According to court filings, the Debtor reports between $1 million and $10 million in debt owed to approximately 1–49 creditors. A meeting of creditors under Section 341(a) to be held on July 13, 2026 At 09:30 AM At Zoom 341 Meeting Raleigh. About Green Eagle Capital Raleigh, LLC Green Eagle Capital Raleigh, LLC is an investment and real estate holding company engaged in the ownership, management, and development of commercial and investment assets. Green Eagle Capital Raleigh, LLC sought relief under Chapter 7 of the U.S. Bankruptcy Code (Bankr. Case No. 26-02611) on June 9, 2026. In its petition, the Debtor reported estimated assets of $1 million–$10 million and estimated liabilities of $1 million–$10 million. Honorable Bankruptcy Judge David M. Warren handles the case. The Debtor is represented by Lydia C. Carpenter, Esq. and Jason L. Hendren, Esq. of Hendren Redwine & Malone, PLLC. GREENWAVE TECHNOLOGY: $21.6MM FY2025 Net Loss Flags Going Concern ----------------------------------------------------------------- Greenwave Technology Solutions, Inc. filed with the U.S. Securities and Exchange Commission its Annual Report on Form 10-K for the fiscal year ended December 31, 2025, reporting a net loss of $21,596,628 for the year ended December 31, 2025, compared to a net loss of $23,917,353 for the year ended December 31, 2024. For the year ended December 31, 2025, the Company generated $46,660,320 in revenues, as compared to $33,315,859 for the year ended December 31, 2024, an increase of $13,344,461. Going Concern and Management's Liquidity Plans New York, NY-based RBSM LLP, the Company's auditor since 2017, 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 net loss, has generated negative cash flows from operating activities, has an accumulated deficit and has stated that substantial doubt exists about Company's ability to continue as a going concern. As of December 31, 2025, the Company had cash of $935,763 and a working capital deficit (current liabilities in excess of current assets) of $(18,339,586). During the year ended December 31, 2025, the net cash used in operating activities was $(5,975,441). The accumulated deficit as of December 31, 2025 was $(520,910,428). If the Company raises additional funds by issuing equity securities, its stockholders would experience dilution. Additional debt financing, if available, may involve covenants restricting its operations or its ability to incur additional debt. Any additional debt financing or additional equity that the Company raises may contain terms that are not favorable to it or its stockholders and require significant debt service payments, which diverts resources from other activities. The Company's ability to raise additional capital will be impacted by market conditions and the price of the Company's common stock. A full text copy of the Company's Form 10-K is available at https://tinyurl.com/bdz6eymt About Greenwave Greenwave Technology Solutions, Inc., through its wholly owned subsidiary Empire Services, Inc., is an operator of 13 metal recycling facilities in Virginia, North Carolina, and Ohio. The Company's recycling facilities collect, classify, and process raw scrap metal (ferrous and nonferrous) and implement several unique technologies to increase metal processing volumes and operating efficiencies, including a downstream recovery system and cloud-based ERP system. As of December 31, 2025, the Company had $55,169,056 in total assets, $29,232,096 in total liabilities, and $25,936,960 in total stockholders' equity. GRINNELL CENTER: Claims to be Paid from Continued Operation ----------------------------------------------------------- Grinnell Center, LLC d/b/a Hotel Grinnell filed with the U.S. Bankruptcy Court for the Southern District of Iowa a Disclosure Statement describing Plan of Reorganization dated June 12, 2026. Hotel Grinnell, located at 925 Park Street, Grinnell, Iowa (hereafter, Property) represents a rare and ambitious investment in a rural market, the first upscale, full-service hotel developed in a community of this size in Iowa in more than a century. Through the adaptive reuse of a 1921 junior high school, the project transformed a long-vacant, non-producing public building into a functioning hospitality asset that generates revenue, supports employment, and contributes to the economic and social vitality of the surrounding community. The events leading to the Debtor's Chapter 11 filing began with the underperformance of the incentive-based funding that formed a central component of the project's capital structure. The financial model for Hotel Grinnell relied in part on revenue generated through the Iowa Reinvestment District ("IRD") program, as well as other incentive mechanisms tied to increased economic activity within the district. From the Hotel's opening in December 2017 through May 31, 2024, the Debtor received only $258,114 in IRD funds, as compared to approximately $2.58 million projected over that same period. This shortfall was driven in large part by the disruption to economic activity during the COVID-19 pandemic and the uneven recovery that followed, particularly within a rural market dependent on institutional and event-driven demand. The Plan of Reorganization is designed to resolve the Debtor's financial condition by aligning the capital structure with the operating capacity of the Hotel and providing the resources necessary to maintain and stabilize the asset. The underlying premise of the Plan is that the Hotel is an operating, revenue-generating business whose challenges arise from financial misalignment rather than operational failure. Class 3 consists of all other general unsecured claims, including those held by vendors, service providers, and other trade creditors, who are either scheduled creditors on Schedule F whose claim is not indicated as either unliquidated, contingent, or disputed; or who have timely filed proofs of claim. This would include all deficiency claims of creditors without collateral source recovery, to specifically include: SBA, Excel Mechanical, Modern Piping, Trustees of Grinnell College. Allowed claims in this class will receive distributions on a pro rata basis from available cash flow under the Plan. Any available cash flow will be split one-third to Class 2, and two-thirds to this Class (Class 3), excepting out the one-year anniversary of the Effective Date payments, which shall be earmarked for Class 4, and after any such payment need for Class 4, directed to Class 2 and Class 3. The Debtor retains the right to object to any claim that is disputed, contingent, unliquidated, overstated, or otherwise improper, and only allowed claims will participate in distributions. Class 3 is impaired and entitled to vote on the Plan. Class 4 consists of those general unsecured claims who opt out of Class 2 and into Class 3. Any holder of an Unsecured Claim may elect treatment in the Administrative Convenience Class by indicating such election on its Ballot. Such election shall be irrevocable and binding upon the holder of the Claim and any successor or assign thereof. A holder electing treatment in the Convenience Class shall be deemed to have agreed to reduce its Claim for all Plan distribution purposes and to accept the treatment provided in this Section in full and final satisfaction, settlement, release, and discharge of its Allowed Claim. Class 4 Claimants will receive a payment, on the one-year anniversary of the Effective Date of 10% of any validly filed proof of claim, such payment capped at $1,000.00. Any Class 4 claim holder will not be entitled to any additional distributions under the Plan on account of their claim(s). Class 5 consists of Equity Interests. was solely owned by Angela Harrington. In exchange for the $450,000.00 unsecured loan to the Reorganized Debtor which is being facilitated by Angela Harrington, to which she is required to provide certain guaranties, Angela Harrington will retain 100% ownership interest in the reorganized debtor. The new value facilitated by Angela Harrington will allow for a recovery to be had. The new value production is a substantial and meaningful production designed to facilitate Debtor's exit from Chapter 11, to meet operational needs, and continue to meet the obligations contemplated under the Plan. The retention of existing ownership is supported by the new value contribution and the continued involvement of current management in the operation of the Hotel. The issuance of the New Membership Interests pursuant to this Section shall not require any further action under applicable non-bankruptcy law, any organizational document of the Debtor or Reorganized Debtor, or any vote, consent, authorization, or approval of any person or entity other than as provided in this Plan. The Plan will be implemented through the continued operation of the Hotel in the ordinary course of business, combined with the restructuring of secured debt, the contribution of the Exit Financing Facility in the form of a $450,000.00 unsecured loan arranged by Angela Harrington for the funding of necessary repairs and operational requirements. The Debtor's ability to execute the Plan is grounded in the fact that the Hotel is an operating, revenue-generating business with established demand, existing management, and operational systems already in place. Implementation does not require the creation of a new business model. Rather, it reflects the continuation of current operations within a capital structure that has been aligned with the realities of the asset and its market. Following confirmation, the Debtor will continue to operate the Property in the ordinary course of business. The Hotel will remain open, staffed, and available to guests, maintaining its role as a lodging provider and community gathering place. Revenue generated from ongoing operations, along with the arranged Exit Financing, will serve as the primary source of funding for Plan obligations, including debt service, distributions to creditors, and operating expenses. The Hotel has demonstrated its ability to generate consistent room revenue and maintain demand across both corporate and leisure segments, providing a stable foundation for continued performance. A full-text copy of the Disclosure Statement dated June 12, 2026 is available at https://urlcurt.com/u?l=PQqDWu from PacerMonitor.com at no charge. Counsel to the Debtor: Robert C. Gainer, Esq. Cutler Law Firm, PC 1307 50th St. West Des Moines, IA 50266 Telephone: (515) 223-6600 Facsimile: (515) 223-6787 Email: rgainer@cutlerfirm.com About Grinnell Center LLC Grinnell Center, LLC operates Hotel Grinnell, a boutique hotel housed in a former junior high school building, providing lodging accommodations, on-site dining, and meeting and event spaces. Grinnell Center sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Iowa Case No. 25-02165) on December 16, 2025. In the petition signed by Angela Harrington, manager, the Debtor disclosed $6,080,519 in assets and $8,228,060 in liabilities. Judge Lee M. Jackwig oversees the case. The Debtor tapped Robert Gainer, Esq., at Cutler Law Firm, PC as counsel and Jonathan Smith, CPA, at Denman CPA LLP as accountant. GROFF TRACTOR: Seeks to Extend Plan Exclusivity to Aug. 11 ---------------------------------------------------------- Groff Tractor Mid Atlantic, LLC, and its 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. 13, 2026, respectively. This is the Debtors' third request for an extension of the Exclusivity Periods. Because of the complexity of these Chapter 11 Cases, an extension of the Exclusivity Period will give the Debtors sufficient time to continue negotiating terms of a Chapter 11 plan with their stakeholders. The Debtors explain that until the closing of the Sale, the Debtors (a) operated eight heavy equipment dealerships, (b) in four states, (c) with employee membership in multiple labor unions, (d) with business-to-business and business-to-consumer retail strategies, (e) funded by more than a half-dozen secured financing facilities with contractual and state-law intercreditor relationships, (f) all amidst the backdrop of a free-fall chapter 11 filing without any negotiated sale process or postpetition financing or cash collateral usage. Since the Petition Date, significant progress has been made, including the iterative negotiation of cash collateral usage, the consensual use of other lenders' collateral, the negotiation of a postpetition financing facility with at least two financing sources, and the approval of bidding, auction, and sale procedures, ultimately resulting in a successful going concern Sale. The Debtors claim that they are substantially current on postpetition liabilities, which pave the way to a possible successful chapter 11 plan. These developments, milestones, and accomplishments support a finding of cause for granting this Motion. Additionally, the Debtors' purpose in seeking an extension of the Exclusivity Period is a good-faith effort to continue the reorganization efforts they have initiated without the distraction and costs of a competing plan process. The relief requested in the Motion is not intended for the purpose of coercing or strong arming any creditor, but rather to benefit all of the Estates' stakeholders as a whole. Moreover, an extension of the Exclusivity Period will not result in prejudice to any creditor or party in interest, and instead, will enable the Debtors to continue focusing on proposing a viable, fair, and comprehensive plan that would be supported by the major constituents. The Debtors believe that if the Court further extends the Exclusivity Period, it will clear a path for the Debtors to seek confirmation of a feasible Chapter 11 plan. Counsel to the Debtors: Joshua N. Eppich, Esq. Eric T. Haitz, Esq. BONDS ELLIS EPPICH SCHAFER JONES LLP 420 Throckmorton Street, Suite 1000 Fort Worth, TX 76102 Phone: (817) 405-6900 Fax: (817) 405-6902 Email: joshua@bondsellis.com Email: eric.haitz@bondsellis.com -and- Ken Green, Esq. 402 Heights Boulevard Houston, Texas 77007 Tel: (713) 335-4990 Fax: (713) 335-4991 E-mail: ken.green@bondsellis.com About Groff Tractor Mid Atlantic Groff Tractor Mid Atlantic LLC and subsidiaries operates a network of construction equipment dealerships serving the Mid-Atlantic region of the United States. The Company sells, rents, and services heavy and compact construction machinery, offering parts and attachments for brands such as Wirtgen, Hamm, Vogele, Transtech, Thunder Creek, John Deere Equipment, and TopCon. Groff Tractor Mid Atlantic LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Tex. Case No. 25-90010) on Oct. 14, 2025. In its petition, the Debtor reports estimated assets and liabilities between $100 million and $500 million each. Honorable Bankruptcy Judge Edward L. Morris handles the case. The Debtor is represented by Joshua N. Eppich, Esq. of BONDS ELLIS EPPICH SCHAFER JONES LLP. GULF SOUTH: Seeks to Tap Derbes Law Firm LLC as Bankruptcy Counsel ------------------------------------------------------------------ Gulf South Hospice of New Orleans, Ltd seeks approval from the U.S. Bankruptcy Court for the Eastern District of Louisiana to hire The Derbes Law Firm, L.L.C. as counsel. The firm will provide these services: (a) providing legal advice with respect to its powers and duties as debtor-in-possession in the continued management of its business and property; (b) attending meetings with representatives of its creditors and other parties in interest; (c) taking all necessary action to protect and preserve the Debtor's estate, including the prosecution of actions on the Debtor's behalf, the defense of any action commenced against the Debtor, negotiations concerning litigation in which the Debtor is or may become involved, and objections to claims to be filed by the estate; (d) preparing on behalf of the Debtor motions, applications, answers, orders, reports, and papers necessary to the administration of the estate; (e) negotiating and preparing on the Debtor's behalf a plan of reorganization, disclosure statement, and all related agreements and/or documents, and taking any necessary action on behalf of the Debtor to obtain confirmation of such plan; (f) appearing before the Court to protect the interests of the Debtor; (g) performing all other necessary legal services and providing all necessary legal advice in connection with the Chapter 11 case; (h) advising the Debtor concerning executory contract and unexpired lease assumptions, assignments and rejections, and lease restructuring and recharacterizations; and (i) commencing and conducting litigation necessary to assert rights, protect assets, or further the Debtor's reorganization. The firm charges at these hourly rates: Albert J. Derbes, IV, Esq. $500 Eric J. Derbes, Esq. $480 Wilbur J. "Bill" Babin, Jr., Esq. $500 Beau P. Sagona, Esq. $500 Frederick L. Bunol, Esq. $400 Bryan J. O'Neill, Esq. $340 Jared S. Scheinuk, Esq. $340 Mark S. Goldstein, Esq. $495 Patrick S. Garrity, Esq. $500 McKenna D. Dorais, Esq. $250 Theresa Leith, Esq. $200 Hugh J. Posner, CPA $275 Notary $100 Paralegal(s) $120 Legal Assistant $60 The firm received a $10,000 retainer, of which $3,332 remains as security for post-petition services. The Derbes Law Firm, L.L.C. is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code, according to court filings. The firm can be reached at: Patrick S. Garrity, Esq. Frederick L. Bunol, Esq. THE DERBES LAW FIRM, L.L.C. 3027 Ridgelake Drive Metairie, LA 70002 Telephone: (504) 207-0920 Facsimile: (504) 832-0322 E-mail: pgarrity@derbeslaw.com About Gulf South Hospice of New Orleans Gulf South Hospice of New Orleans, LTD provides hospice care in Metairie, Louisiana. The company offers services including medical supplies and equipment, pain control and symptom management, social worker visits, and spiritual support for patients and families. Its care may be provided in homes, nursing facilities, assisted living facilities, and acute care hospitals. Gulf South Hospice is Medicare and Medicaid certified. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. La. Case No. 26-11284) on May 27, 2026, with $0 to $50,000 in assets and $1,000,001 to $10 million in liabilities. Judge Meredith S Grabill presides over the case. Patrick S. Garrity, Esq., at Derbes Law Firm, LLC represents the Debtor as bankruptcy counsel. HEALING WITH CAARE: Gets Extension to Access Cash Collateral ------------------------------------------------------------ Healing with CAARE, Inc. received another extension from the U.S. Bankruptcy Court for the Middle District of North Carolina to use cash collateral to fund operations. Under the second interim order, the Debtor is authorized to use cash collateral in accordance with a court-approved budget through July 10 or until the occurrence of certain terminating events, including confirmation of a Chapter 11 plan, dismissal or conversion of the Debtor's bankruptcy case, an uncured default, or further order of the court. Healing with CAARE estimates the value of its secured assets at around $600,000, indicating that there is likely sufficient equity in the collateral to protect lenders' interests. Secured lenders Wells Fargo Bank and Institute Capital, Inc. hold security interests in the Debtor's assets, which consist primarily of accounts receivable generated from the Debtor's services and real estate holdings. At the time of the Debtor's Chapter 11 filing, the lenders were owed approximately $465,000, exclusive of attorneys' fees, costs, and other charges. As adequate protection for any diminution in the value of their collateral, the lenders will receive post-petition replacement liens on the Debtor's post-petition property, with the same validity, priority, and enforceability as their pre-petition liens. The second interim order preserves all parties' rights to challenge the validity, priority, extent, enforceability, or amount of any secured claims and liens at a later stage of the case. The order is available at https://urlcurt.com/u?l=ekm203 from PacerMonitor.com. The next hearing is set for July 9. About Healing with CAARE Inc. Healing with CAARE, Inc. operates a substance use treatment provider in Durham, North Carolina. The organization provides outpatient and residential treatment services, including outpatient counseling, opioid treatment, intensive and comprehensive outpatient programs, DWI services, counseling, clinical assessments, case management, peer support, and recovery support services. It serves adults with substance use disorders, and its residential program serves men in recovery. Healing with CAARE sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. N.C. Case No. 26-80137) on May 6, 2026, listing assets of between $1 million and $10 million and liabilities of between $500,001 and $1 million. Carolyn Hinton, president and executive director of Healing with CAARE, signed the petition. Judge Lena M. James oversees the case. Florence A. Bowens, Esq., at Florence A. Bowens, Attorney at Law, represents the Debtor as bankruptcy counsel. HIGHLANDER HOTEL: Claims to be Paid from Continued Operation ------------------------------------------------------------ Highlander Hotel, LLC filed with the U.S. Bankruptcy Court for the Southern District of Iowa a Disclosure Statement describing Plan of Reorganization dated June 12, 2026. The Highlander Hotel is a historic full-service hotel, restaurant, and event venue located at 2525 Highlander Place, Iowa City, Iowa, consisting of 97 units (86 guest rooms due to suite configurations) and approximately 100,000 square feet of improvements situated on approximately nine acres (hereafter, Property or Hotel). Since acquisition, the Debtor has transformed the Property from a distressed and underperforming asset into a recognized and competitive destination within its market. Revenue has increased from approximately $1.0 million to approximately $2.5 million, and average daily rate has nearly doubled. These results reflect significant capital investment, operational discipline, and sustained execution. At acquisition in 2019, the Property was financed through a combination of approximately $3.0 million in senior debt provided by Lincoln Savings Bank and approximately $1.4 million in equity capital contributed by investors. This initial capital structure supported both the acquisition of an existing operating business and the early stages of its repositioning. At the time, the structure was appropriate for the anticipated scope of renovation and the expected operating environment. The Debtor's Chapter 11 filing was precipitated by a series of events related to the timing and administration of its financing arrangements, rather than a sudden deterioration in the underlying operations of the Property. This, along with changes in market conditions and broader macroeconomic factors, has materially altered the operating landscape for full-service hotel assets such as the Highlander, led to the difficult decision to file for bankruptcy under Chapter 11. Class 3 consists of all other general unsecured claims, including those held by vendors, service providers, and other trade creditors, who are either scheduled creditors on Schedule F whose claim is not indicated as either unliquidated, contingent, or disputed; or who have timely filed proofs of claim. This would include all deficiency claims of creditors without collateral source recovery, to specifically include: the Small Business Administration, Iowa Department of Revenue, and Modern Piping. Allowed claims in this class will receive distributions on a pro rata basis from available cash flow under the Plan. Any available cash flow will be split one-fifth to Class 2, and four-fifths to this Class (Class 3), excepting out the one-year anniversary of the Effective Date payments, which shall be earmarked for Class 4, and after any such payment need for Class 4, directed to Class 2 and Class 3. The Debtor retains the right to object to any claim that is disputed, contingent, unliquidated, overstated, or otherwise improper, and only allowed claims will participate in distributions. Class 3 is impaired and entitled to vote on the Plan. Class 4 consists of those general unsecured claims who opt out of Class 2 and into Class 3. A holder electing treatment in the Convenience Class shall be deemed to have agreed to reduce its Claim for all Plan distribution purposes and to accept the treatment provided in this Section in full and final satisfaction, settlement, release, and discharge of its Allowed Claim. Class 4 Claimants will receive a payment, on the one-year anniversary of the Effective Date of 10% of any validly filed proof of claim, such payment capped at $1,000.00. Any Class 4 claim holder will not be entitled to any additional distributions under the Plan on account of their claim(s). Class 4 is impaired and entitled to vote on the Plan. Given the filing of the Chapter 11 case, as part of this Plan, all existing membership interests are cancelled and the issuance of new membership interest shall contemporaneously occur on the Effective Date, whereby: * On the Effective Date, all membership interests in the Debtor existing immediately prior to the Effective Date (hereafter, Existing Membership Interests) shall be cancelled and extinguished without the need for any further action by the Debtor, the Reorganized Debtor, or the holders thereof. * In exchange for and in consideration of certain of the Existing Equity Holder's agreement to provide a contribution to fund an Exit Financing Facility totaling not less than $300,000.00, the Existing Equity Holder's continued participation in and support of the reorganization, the implementation of the transactions contemplated by this Plan, and the other promises, covenants, and obligations undertaken by those Existing Equity Holder's providing the Exit Financing Facility contribution, the Reorganized Debtor shall issue one hundred percent of the newly issued membership interests in the Reorganized Debtor (hereafter, "New Membership Interests") to those Existing Equity Holders who have contributed to the Exist Financing Facility and reorganization efforts of the Plan. * The New Membership Interests shall be issued free and clear of all Claims, Interests, liens, charges, encumbrances, and other interests except as expressly provided in the Plan, the Exit Financing Documents, or other agreements executed in connection with the Plan. * The Debtor's valuation evidence demonstrates that, as of the Effective Date, the value of the Debtor and its assets is fully encumbered by secured indebtedness and that no realizable value exists for distribution on account of Existing Membership Interests. The issuance of the New Membership Interests pursuant to this Section is an integral component of the reorganization transactions contemplated by this Plan, and is supported by the production of funds and reorganizational efforts of this reorganization. * The Exit Financing Facility is necessary to fund payments required under the Plan, including Administrative Expense Claims and Priority tax claims, and to provide working capital necessary for the continued operation of the Reorganized Debtor's business. The Debtor has determined, in the exercise of its reasonable business judgment, that the transactions contemplated by this Section are fair, reasonable, and in the best interests of the Estate and all stakeholders. The Plan will be implemented through the continued operation of the Hotel in the ordinary course of business, combined with the restructuring of secured debt, the contribution of the Exit Financing from reconstituted equity in at least $300,000.00 for the funding of priority tax claims, Effective Date payments, and necessary repairs and operational requirements. The Plan is designed to reposition the Highlander Hotel into a sustainable and financeable operating model aligned with current market realities. Rather than relying upon speculative development, significant new construction, or temporary operational adjustments, the Plan restructures the existing business around the highest and best use of the Property's existing infrastructure, amenities, and physical layout. A full-text copy of the Disclosure Statement dated June 12, 2026 is available at https://urlcurt.com/u?l=4mweHR from PacerMonitor.com at no charge. Counsel to the Debtor: Robert C. Gainer, Esq. Cutler Law Firm, PC 1307 50th St. West Des Moines, IA 50266 Telephone: (515) 223-6600 Facsimile: (515) 223-6787 Email: rgainer@cutlerfirm.com About Highlander Hotel LLC Highlander Hotel, LLC operates a full-service hotel property in Iowa City, Iowa, known as The Highlander Hotel, under a franchise agreement with Choice Hotels, providing lodging accommodations and on-site amenities including guest rooms, suites, food and beverage facilities, and recreational spaces. Highlander Hotel sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Iowa Case No. 25-02166) on December 16, 2025. In the petition signed by Angela Harrington, manager, the Debtor disclosed $10,514,175 in assets and $13,109,428 in liabilities. Judge Lee M. Jackwig oversees the case. The Debtor tapped Robert Gainer, Esq., at Cutler Law Firm, PC as counsel and Jonathan Smith, CPA, at Denman CPA LLP as accountant. HNO INTERNATIONAL: Delays 10-Q Filing Due to Data Compilation ------------------------------------------------------------- HNO International, Inc. has filed a Form 12b-25 with the U.S. Securities and Exchange Commission notifying the Commission of a delay in filing its Quarterly Report on Form 10-Q for the period ended April 30, 2026. The Company stated that the 10-Q could not be filed by the prescribed due date without unreasonable effort or expense, due to a delay in obtaining and compiling the information required to be included in the report. HNO International expects to file the Quarterly Report within the five-day extension period permitted under Rule 12b-25 of the Securities Exchange Act of 1934, as amended. The Company confirmed that all other periodic reports required during the preceding 12 months have been filed and does not anticipate any significant change in results of operations from the corresponding period of the prior fiscal year. About HNO International Headquartered in Murrieta, California, HNO International, Inc., a Nevada corporation, focuses on systems engineering design, integration, and product development to generate green hydrogen-based clean energy solutions to help businesses and communities decarbonize in the near term. Cypress, Texas-based Barton CPA PLLC, the Company's auditor since 2024, issued a "going concern" qualification in its report dated February 6, 2026, attached to the Company's Annual Report on Form 10-K for the year ended October 31, 2025, citing that the Company has sustained significant losses and negative cash flows from operations and has an accumulated deficit that raises substantial doubt about its ability to continue as a going concern. As of January 31, 2026, the Company had $1.39 million in total assets, $3.09 million in total liabilities, and $1.70 million in total stockholders' deficit. HUDSON 1701/1706: Plan Exclusivity Period Extended to July 20 ------------------------------------------------------------- Judge Karen B. Owens of the U.S. Bankruptcy Court for the District of Delaware extended Hudson 1701/1706, LLC and Hudson 1702, LLC's exclusive periods to file a plan of reorganization and obtain acceptance thereof to July 20 and Sept. 17, 2026, respectively. As shared by Troubled Company Reporter, the Debtors claim that completing the trial in the Recharacterization Action is critical to the Debtors' formulation of a plan of reorganization. The Debtors worked diligently to prepare for an expedited trial in this matter and will continue to press for an expeditious trial. However, in light of the effect of the Dismissal Order on the timeline for completing the trial, the Debtors require an extension of the Exclusivity Periods to accommodate that timeline. Upon completion of the trial and a ruling, the Debtors anticipate pivoting quickly to fully formulating and seeking confirmation of a plan of reorganization. The Debtors cite that they intend to propose and seek confirmation of a plan of reorganization promptly following resolution of the Recharacterization Action and will diligently seek to advance this process as much as practicable in the interim period pending such resolution, including continuing to seek settlement of the Interpleader Action and negotiating for the lifting of the stop work orders. The Debtors believe that the requested extensions of the Exclusive Periods will afford the key parties-in-interest time to negotiate a potential plan structure and prepare a draft plan in advance of the expiration of the proposed extended Exclusive Periods. Accordingly, the Debtors submit that this factor weighs in favor of the requested extension of the Exclusive Periods. Counsel for the Debtors: William E. Chipman, Jr., Esq. Mark D. Olivere, Esq. Aaron J. Bach, Esq. Alison R. Maser, Esq. Chipman Brown Cicero & Cole, LLP Hercules Plaza 1313 North Market Street, Suite 5400 Wilmington, DE 19801 Tel: (302) 295-0191 Email: chipman@chipmanbrown.com olivere@chipmanbrown.com bach@chipmanbrown.com maser@chipmanbrown.com About Hudson 1701/1706 LLC Hudson 1701/1706, LLC and Hudson 1702, LLC are Delaware limited liability companies engaged in activities related to real estate under NAICS code 5313. The entities manage and administer real property interests at 353 West 58th Street in New York City, with Hudson 1701/1706 associated with the tenth floor and Hudson 1702 with Unit 2 of the same building. The Debtors filed Chapter 11 petitions (Bankr. D. Del. Lead Case No. 25-11853) on October 22, 2025. At the time of the filing, the Debtors listed between $100 million and $500 million in assets and liabilities. Hudson 1701/1706 is a corporation with Tax ID 88-1290281 and listed between 1 and 49 creditors in its petition. Honorable Judge Karen B. Owens oversees the cases. The Debtor tapped Chipman Brown Cicero & Cole, LLP as bankruptcy counsel; DLA Piper LLP (US) as special corporate and litigation counsel; FTI Consulting, Inc. as restructuring advisor; and Verita Global, LLC as claims and noticing agent. HUNDAL FARMS: Gets Extension to Use Cash Collateral --------------------------------------------------- Hundal Farms, Inc. and affiliates received another extension from the U.S. Bankruptcy Court for the Eastern District of California, Fresno Division to use cash collateral. At the recently held hearing, the court approved the Debtors' interim use of cash collateral through June 30 and scheduled a further hearing for that date. The Debtors were previously allowed to access cash collateral under the court's June 12 interim order. The interim order authorized the payment of expenses from cash collateral under a court-approved operating budget covering the period from June 11 to 17, and granted secured creditors adequate protection through replacement liens on assets acquired by the Debtors before and after their bankruptcy filing. A copy of the interim order is available at https://shorturl.at/KXwi6 from PacerMonitor.com. The Debtors' cash collateral consists primarily of proceeds generated from crop receivables and the sale of farm products. This cash collateral represents the Debtors' only available source of operating funds and is essential to maintaining ongoing farming operations during the Chapter 11 proceedings. AgWest Farm Credit, which includes both the Production Credit Association and Federal Land Bank, asserts liens on the cash collateral and is the principal secured creditor affected by the Debtor's use of the collateral. About Hundal Farms Inc. Hundal Farms, Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Cal. Case No. 26-12348) on May 21, 2026. In the petition signed by Parvinder S. Hundal, chief executive officer, the Debtor disclosed up to $50,000 in assets and up to $100 million in liabilities. Judge Rene Lastreto II oversees the case. Riley C. Walter, Esq., at Wanger Jones Helsley represents the Debtor as legal counsel. INNOVATIVE INDUSTRIAL: Issues $402.5MM Exchangeable Senior Notes ---------------------------------------------------------------- Innovative Industrial Properties, Inc. announced in a regulatory filing that IIP Operating Partnership, LP, the operating partnership of the Company, issued $402,500,000 aggregate principal amount of 6.00% exchangeable senior notes due 2029 to BTIG, LLC and certain other initial purchasers pursuant to a Purchase Agreement, dated as of June 9, 2026, which includes $52,500,000 in aggregate principal amount of the Notes that were sold to the Initial Purchasers pursuant to the full exercise of the option set forth in the Purchase Agreement. The Notes were issued pursuant to an Indenture, dated as of June 15, 2026, by and among the Company, the Operating Partnership and Argent Institutional Trust Company, as trustee, governing the terms of the Notes. The Notes were offered in a private placement in reliance on Section 4(a)(2) of the Securities Act of 1933, as amended, and for resale by the Initial Purchasers to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act. The offer and sale of the Notes and the underlying shares of common stock of the Company, par value $0.001 per share, issuable upon exchange, if any, have not been registered under the Securities Act or the securities laws of any other jurisdiction, and may not be offered or sold in the United States absent registration or an applicable exemption from such registration requirements. The Notes are the Operating Partnership's senior unsecured obligations and rank senior in right of payment to any of the Operating Partnership's indebtedness that is expressly subordinated in right of payment to the Notes, equal in right of payment to any of the Operating Partnership's senior unsecured and unsubordinated indebtedness, effectively junior in right of payment to any of the Operating Partnership's mortgages and other secured indebtedness to the extent of the value of the assets securing such indebtedness, and structurally junior to any of the Operating Partnership's existing and future indebtedness and other liabilities of subsidiaries of the Operating Partnership, if any. The Notes are fully and unconditionally guaranteed by the Company on a senior, unsecured basis. The Notes bear interest at a rate of 6.00% per annum, which is payable semi-annually in arrears on June 15 and December 15 of each year, beginning December 15, 2026, until the maturity date of June 15, 2029. The Notes are exchangeable at any time prior to the close of business on the second scheduled trading day immediately preceding the maturity date for cash, shares of the Company's common stock or a combination of cash and shares of common stock, at the election of the Operating Partnership, based on an initial exchange rate of 14.4113 shares of common stock per $1,000 principal amount of Notes (equivalent to an initial exchange price of approximately $69.39 per share of common stock), subject to adjustment of the exchange rate under certain circumstances. In addition, following the occurrence of a make-whole fundamental change, as defined in the Indenture, the Operating Partnership will, in certain circumstances, increase the exchange rate for a holder that elects to exchange Notes in connection with such make-whole fundamental change. Subject to certain exceptions, the Company's charter restricts ownership of: (i) more than 9.8% in value or in number of shares, whichever is more restrictive, of its outstanding shares of common stock, or (ii) more than 9.8% in value of its outstanding capital stock, in order to protect its status as a real estate investment trust for U.S. federal income tax purposes, among other purposes. Notwithstanding any other provision of the Notes, no holder of Notes will be entitled to receive shares of the Company's common stock following exchange of such Notes to the extent that receipt of common stock would cause such holder (after application of certain constructive ownership rules) to exceed the ownership limits contained in the Company's charter. The Operating Partnership may not redeem the Notes prior to maturity. No sinking fund will be provided for the Notes. Upon the occurrence of a fundamental change, as defined in the Indenture, subject to certain conditions, holders may require the Operating Partnership to repurchase the Notes in whole or in part for cash at a fundamental change repurchase price equal to 100% of the principal amount of the Notes to be repurchased, plus accrued and unpaid interest, if any, to, but excluding, the fundamental change repurchase date. Each of the following is an event of default with respect to the Notes: (1) default in the payment of any interest on any Note when due and payable, and the default continues for a period of 90 days; (2) default in the payment of principal of any Note (including the fundamental change repurchase price) when due and payable on the maturity date, upon required repurchase, upon declaration of acceleration or otherwise; (3) failure by the Operating Partnership or the Company to comply with its obligation to exchange the Notes for cash, shares of the Company's common stock or a combination of cash and shares of common stock, as the case may be, in accordance with the Indenture upon exercise of a holder's exchange right, which failure continues for five business days; (4) failure by the Operating Partnership to comply with its obligations related to a merger, consolidation or sale of assets; (5) failure by the Operating Partnership to provide timely notice in connection with a fundamental change; (6) failure by the Operating Partnership or the Company for 90 days after written notice from the Trustee or the holders of at least 25% in principal amount of the Notes then outstanding has been received by the Operating Partnership or the Company to comply with any of the Operating Partnership's or the Company's respective agreements contained in the Notes or the Indenture (other than a covenant or warranty a default in whose performance or whose breach is elsewhere specifically provided for or which does not apply to the Notes), which notice shall state that it is a "Notice of Default" under the Indenture; (7) default by the Operating Partnership or the Company following the failure to pay beyond any applicable grace period, or resulting in the acceleration of, indebtedness of the Operating Partnership, the Company or any of their respective subsidiaries where the aggregate principal amount with respect to which the default has occurred is greater than $50 million (or its foreign currency equivalent at the time), which indebtedness is not discharged, or such default in payment or acceleration is not cured or rescinded, within 30 days after written notice to the Operating Partnership from the Trustee (or to the Trustee and the Operating Partnership from holders of at least 25% in principal amount of the Notes then outstanding); (8) a final judgement or judgements for the payment of $50 million (or its foreign currency equivalent at the time) or more, excluding any amounts covered by insurance, in the aggregate rendered against the Operating Partnership, the Company or any of their respective subsidiaries which judgement is not discharged, bonded, paid, waived or stayed within 60 days after (i) the date on which the right to appeal has expired if no such appeal has commenced, or (ii) the date on which all rights to appeal have been extinguished; (9) except as otherwise permitted by the Indenture, the Company's guarantee with respect to the Notes ceases to be in full force and effect, or is declared null and void in a judicial proceeding, or the Company denies or disaffirms in writing its obligations under the Indenture; or (10) certain events of bankruptcy, insolvency, or reorganization of the Company, the Operating Partnership or any significant subsidiary (as defined in Article 1, Rule 1-02 of Regulation S-X) of the Company or the Operating Partnership. If an event of default other than an event of default arising under clause (10) occurs and is continuing, the Trustee by notice to the Operating Partnership, or the holders of at least 25% in principal amount of then outstanding Notes by notice to the Operating Partnership and the Trustee, may, and the Trustee at the request of such holders shall, declare 100% of the principal of, and accrued and unpaid interest, if any, on, all then outstanding Notes to be due and payable. In addition, upon an event of default arising under clause (10) with respect to the Operating Partnership, 100% of the principal of and accrued and unpaid interest on the Notes will automatically become due and payable. Upon any such acceleration, the principal of and accrued and unpaid interest, if any, on the Notes will be due and payable immediately. If, at any time during the six-month period beginning on, and including, the date that is six months after the last date of original issuance of the Notes, the Company fails to timely file any document or report that it is required to file pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934, as amended (after giving effect to all applicable grace periods thereunder and other than Current Reports on Form 8-K), or the Notes or any shares of the Company's common stock issuable upon exchange of the Notes are not otherwise freely tradable pursuant to Rule 144, subject to certain limitations, the Operating Partnership will pay additional interest on the Notes equal to 0.5% per annum of the principal amount of Notes outstanding. Further, if, and for so long as, the restrictive legend on the Notes has not been removed, the Notes are assigned a restricted CUSIP number or the Notes and any shares of the Company's common stock issuable upon exchange of the Notes are not otherwise freely tradable pursuant to Rule 144, subject to certain limitations regarding holders of the Notes who are the Operating Partnership's current or prior affiliates, as of the 365th day after the last date of original issuance of the Notes, the Operating Partnership will pay additional interest on the Notes equal to 0.5% per annum of the principal amount of Notes outstanding. Full text copies of the Indenture and the Notes are available at https://tinyurl.com/6xrnjp3f and https://tinyurl.com/6xrnjp3f, respectively. Concurrently with the offering of the Notes, the Company used approximately $80.5 million of the net proceeds from the offering to fund the repurchase of 1,334,466 shares of the Company's common stock in privately negotiated transactions effected through the Initial Purchasers at a price per share of $60.34, the last reported sale price per share of the Company's common stock on the New York Stock Exchange on June 9, 2026. This Current Report is neither an offer to sell, nor a solicitation of an offer to buy, any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful. About Innovative Industrial Properties Inc. Innovative Industrial Properties, Inc. is an internally-managed REIT focused on the acquisition, ownership and management of specialized industrial and commercial properties in the United States. Its properties are primarily leased to experienced, state-licensed operators for their regulated cannabis facilities. The Company have acquired and intend to continue to acquire its properties through sale-leaseback transactions and third-party purchases. The Company have leased and expects to continue to primarily lease its properties on a triple-net lease basis, where the tenant is responsible for all aspects of and costs related to the property and its operation during the lease term, including structural repairs, maintenance, real estate taxes and insurance. The Company's independent auditor, Sadler, Gibb & Associates, LLC, based in Draper, Utah, and serving since 2018, included a "going concern" qualification in its report dated February 24, 2026, citing the Company's significant outstanding debt obligation that matures within the next 12 months raises substantial doubt about the Company's going concern. As of March 31, 2026, the Company had $2.4 billion in total assets, $499.4 million in total liabilities, and $1.9 billion in total stockholders' equity. INTEGRATED PROTEINS: Comm. Taps Province LLC as Financial Advisor ----------------------------------------------------------------- The official committee of unsecured creditors of Integrated Proteins LLC, NutriHub LLC, and HFO Logistics LLC seek approval from the U.S. Bankruptcy Court for the District of Kansas to employ Province, LLC as its financial advisor. The firm's services include: a. becoming familiar with and analyzing the Debtors' Cash Collateral budget, assets and liabilities, and overall financial condition; b. reviewing financial and operational information furnished by the Debtors; c. monitoring the sale process, interfacing with the Debtors' professionals, and advising the Committee regarding the process; d. scrutinizing the economic terms of various agreements, including, but not limited to, various professional retentions; e. analyzing the Debtors' proposed business plans and developing alternative scenarios, if necessary; f. assessing the Debtors' various pleadings and proposed treatment of unsecured creditor claims therefrom; g. preparing, or reviewing as applicable, avoidance action and claim analyses; h. assisting the Committee in reviewing the Debtors' financial reports, including, but not limited to, statements of financial affairs, schedules of assets and liabilities, Cash Collateral budgets, and monthly operating reports; i. advising the Committee on the current state of these chapter 11 cases; j. advising the Committee in negotiations with the Debtors and third parties as necessary; k. if necessary, participating as a witness in hearings before the Court with respect to matters upon which Province has provided advice; and l. other activities as are approved by the Committee, the Committee's counsel, and as agreed to by Province. Province's current standard hourly rates are: Managing Directors and Partners $900 to $1,600 Vice Presidents, Directors, and Senior Directors $700 to $1,050 Analysts, Associates, and Senior Associates $370 to $750 Paraprofessional/Admin /Interns $270 to $380 As disclosed in the court filings, Province, LLC is a "disinterested persons" within the meaning of section 101(14), as modified by section 1107(b) of the Bankruptcy Code. The firm can be reached through: Sanjuro Kietlinski Province, LLC 2360 Corporate Circle, Suite 340 Henderson, NV 89074 Phone: (702) 685-5555 About Integrated Proteins LLC Integrated Proteins, LLC and affiliates sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Kan. Lead Case No. 26-20713) on May 6, 2026. At the time of filing, Debtors had estimated assets of between $50,000,001-$100 million and liabilities of between $100,000,001-$500 million. Judge Dale L Somers oversees the case. Prelle Eron & Bailey, P.A. and Haupt Law PC serve as the Debtors' legal counsel. David R. Payne, executive managing director at Marshall & Stevens serves as the Debtor's chief restructuring officer. INTEGRATED PROTEINS: Committee Taps McDermott Will as Counsel ------------------------------------------------------------- The official committee of unsecured creditors of Integrated Proteins LLC, NutriHub LLC, and HFO Logistics LLC seek approval from the U.S. Bankruptcy Court for the District of Kansas to employ McDermott Will & Schulte, LLP as its counsel. The firm will render these services: a) advise the Committee with respect to its rights, powers, and duties in the Chapter 11 Cases; b) participate in in-person and telephonic meetings of the Committee and subcommittees formed thereby, if any; c) assist and advise the Committee in its meetings and negotiations with the Debtors and other parties in interest regarding the Chapter 11 Cases; d) assist the Committee in analyzing claims asserted against, and interests in, the Debtors, and in negotiating with the holders of such claims and interests and bringing, or participating in, objections or estimation proceedings with respect to such claims and interests; e) assist the Committee in analyzing the Debtors' assets and liabilities, including in its review of the Debtors' Schedules of Assets and Liabilities, Statements of Financial Affairs, and other reports prepared by the Debtors, investigating the extent and validity of liens and participating in and reviewing any proposed transfer, sale, or disposition of the Debtors' assets, financing arrangements, and cash collateral stipulations or proceedings; f) assist the Committee in its investigation of the acts, conduct, assets, liabilities, management, and financial condition of the Debtors, the Debtors' historic and ongoing operations of their businesses, and the desirability of the continuation of any portion of those operations, and any other matters relevant to the Chapter 11 Cases; g) assist the Committee in its analysis of, and negotiations with the Debtors or any third party related to, financing, asset disposition transactions, and compromises of controversies, reviewing and determining the Debtors' rights and obligations under leases and executory contracts, and assisting, advising, and representing the Committee in any manner relevant to the assumption and rejection of executory contracts and unexpired leases; h) assist the Committee in its analysis of, and negotiations with, the Debtors or any third party related to, the formulation, confirmation, and implementation of a chapter 11 plan(s) and all documentation related thereto (including the disclosure statement); i) assist, advise, and represent the Committee in understanding its powers and duties under the Bankruptcy Code and the Bankruptcy Rules and in performing other services as are in the interests of those represented by the Committee; j) assist and advise the Committee with respect to communications with the general creditor body regarding significant matters in the Chapter 11 Cases; k) respond to inquiries from individual creditors as to the status of, and developments in the Chapter 11 Cases; l) represent the Committee at hearings and other proceedings before the Court and other courts or tribunals, as appropriate; m) review and analyze complaints, motions, applications, orders, and other pleadings filed with the Court, and advise the Committee with respect to formulating positions with respect, and filing responses, thereto; n) assist the Committee in its review and analysis of, and negotiations with the Debtors and their non-Debtor affiliates related to intercompany claims and transactions; o) review and analyze third-party analyses and reports prepared in connection with the Debtors' potential claims and causes of action, advise the Committee with respect to formulating positions thereon, and perform such other diligence and independent analysis as may be requested by the Committee; p) advise the Committee with respect to applicable federal and state regulatory issues, as such issues may arise in the Chapter 11 Cases; q) assist the Committee in preparing pleadings and applications, and pursuing or participating in adversary proceedings, contested matters, and administrative proceedings as may be necessary or appropriate in furtherance of the Committee's duties; r) take all necessary or appropriate actions as may be required in connection with the administration of the Debtors' estates, including with respect to a chapter 11 plan and related disclosure statement; and s) perform such other legal services as may be necessary or as may be requested by the Committee in accordance with the Committee's powers and duties as set forth in the Bankruptcy Code. The firm's 2026 standard hour rates are: Partners/Counsel $1,700 to $2,795 Associates $1,125 to $1,595 Non-Lawyer Professionals $325 to $1,465 The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. The following is provided in response to the request for additional information set forth in Paragraph D.1 of the Appendix B Guidelines. (a) McDermott has agreed to a 30% discount from its standard or customary billing arrangements for this engagement; (b) none of McDermott's professionals included in this engagement have varied their rates based on the geographic location of the Chapter 11 Cases; (c) McDermott did not represent the Committee before the Petition Date; and (d) McDermott expects to develop a budget and staffing plan to comply with the U.S. Trustee's requests for information and additional disclosures, and any orders of the Court. Recognizing that unforeseeable fees and expenses may arise in large chapter 11 cases, McDermott may need to amend the budget as necessary to reflect changed circumstances or unanticipated developments. Kristin Going, Esq., a partner at McDermott Will & Schulte LLP, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Kristin K. Going, Esq. MCDERMOTT WILL & SCHULTE LLP One Vanderbilt Avenue New York, NY 10017-3852 Tel: (212) 547-5400 Fax: (212) 547-5444 Email: kkgoing@mcdermottlaw.com About Integrated Proteins LLC Integrated Proteins, LLC and affiliates sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Kan. Lead Case No. 26-20713) on May 6, 2026. At the time of filing, Debtors had estimated assets of between $50,000,001-$100 million and liabilities of between $100,000,001-$500 million. Judge Dale L Somers oversees the case. Prelle Eron & Bailey, P.A. and Haupt Law PC serve as the Debtors' legal counsel. David R. Payne, executive managing director at Marshall & Stevens serves as the Debtor's chief restructuring officer. INTERNATIONAL SUPPORT: Seeks to Extend Plan Exclusivity to Sept. 30 ------------------------------------------------------------------- International Support Group 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 Sept. 30 and Dec. 29, 2026, respectively. The Debtor is in the business of maintenance of facilities, mostly the Federal Government. The Debtor has been and continues to stabilize its operations and negotiate with certain creditors prior to filing a Plan and Disclosure Statement. Debtor has continued to do internal cost cutting and operational streamlining. The Debtor explains that it has a fairly sizeable operation with approximately 140 employees and other contractors as needed for operations at facilities. Debtor has made good faith and extensive efforts and progress toward a reorganization and to maximize the value to the creditors and estate. Further, the Debtor believes it has a reasonable prospect for filing a confirmable plan of reorganization and has made progress in its negotiations with creditors to date. Debtor is paying its bills as they become due. The Debtor claims that it is requesting this extension of exclusivity in good faith and in no way meant to pressure or prejudice creditors. International Support Group, LLC is represented by: Thomas L. Abrams, Esq. GAMBERG & ABRAMS 1213 S.E. Third Avenue, Second Floor Fort Lauderdale, FL 33316 Telephone: (954) 523-0900 E-mail: tabrams@tabramslaw.com About International Support Group LLC International Support Group, LLC is a facilities maintenance company that has provided services to the federal government since 2009 and operates primarily in Broward County, Florida. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 26-12738) on March 4, 2026, listing up to $10 million in both assets and liabilities. Robert Bennett, company owner and president, signed the petition. Judge Peter D. Russin oversees the case. The Debtor tapped Thomas L. Abrams, Esq., at Gamberg & Abrams as general bankruptcy counsel and Christopher R. Shiplett, Esq., at Randolph Law, PLLC as special counsel. ITG COMMUNICATIONS: S&P Places 'B' ICR on Watch Pos on Planned IPO ------------------------------------------------------------------ S&P Global Ratings placed all ratings on ITG Communications LLC (ITG), including its 'B' issuer credit rating and 'B' issue-level rating on its senior secured facilities, on CreditWatch with positive implications. S&P plans to resolve the CreditWatch when the IPO transaction is executed and S&P can assess the company's leverage. On June 5, 2026, ITG Inc., parent of ITG Communications LLC (ITG), filed an S-1 and intends to IPO. The company expects to use proceeds from the equity offering to pay down a portion of its outstanding debt. S&P Global Ratings anticipates the proposed IPO will result in debt to EBITDA well below 5x. S&P said, "We expect ITG will materially reduce its S&P Global Ratings-adjusted debt when the announced IPO closes. Although the timing, size, and future capital structure are unknown, the company plans to use a portion of the proceeds to repay debt under the revolving credit facility and term loan. The debt repayment will improve the company's liquidity, because it drew on the revolver at the end of the first quarter and will likely draw further due to timing of working capital spending. "Thus, we expect the debt repayment will materially reduce ITG's S&P Global Ratings-adjusted debt and improve the company's credit measures in line with a higher rating. If the transaction closes as proposed, we expect to resolve the CreditWatch placement by raising our rating on ITG by one notch, contingent upon the ultimate level of debt reduction and confidence in its financial policy as a publicly traded company. Moreover, we would also expect ITG to generate positive free operating cash flow. Cash flow has been negative for a protracted period given its significant investments to expand the business. "The CreditWatch positive placement indicates the potential that we could raise the rating by one notch as we gain certainty around the timing and success of ITG's IPO, as well as the amount of proceeds it will generate and use toward debt repayment. We expect to resolve the CreditWatch once the company has completed the IPO, we learn the final amount of the offering, and it has finalized the repayment of its debt." JSM PROPERTIES: Hires Joseph J. D'Agostino Jr. LLC as Counsel ------------------------------------------------------------- JSM Properties, LLC seeks approval from the U.S. Bankruptcy Court for the District of Connecticut to hire Law Offices of Joseph J. D'Agostino, Jr., LLC as counsel. The firm's services include: a. advising the Debtor regarding its rights, duties and powers as a debtor and a debtor-in-possession operating and managing its affairs; b. advising and assisting the Debtor with respect to financial agreements, debt restructuring, cash collateral orders and other financial transactions; c. reviewing and advising the Debtor regarding the validity of liens asserted against property of the debtor; d. advising the Debtor as to actions to collect and recover property for the benefit of the debtor's estate; e. preparing on behalf of the debtor the necessary applications, motions, complaints, answers, pleadings, orders, reports, notices, schedules, and other documents, as well as reviewing all financial reports and other reports filed in its Chapter 11 case; f. counseling the Debtor in connection with all aspects of a plan of reorganization and related documents; and g. performing all other legal services for the debtor which may be necessary in its Chapter 11 case. The firm will be paid at the hourly rate of $350. In addition, the firm will seek reimbursement for expenses incurred. The firm received a retainer of $5,000 from the Debtor. Joseph J. D'Agostino, Jr., LLC is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code, according to court filings. The firm can be reached through: Joseph J. D'Agostino, Jr. Joseph J. D'Agostino, Jr., LLC 1062 Barnes Rd. 108 Wallingford, CT 06492 Telephone: (203) 265-5222 About JSM Properties, LLC JSM Properties owns two real estate properties in Georgia, located in Savannah and Atlanta, with a combined current value of $1 million. JSM Properties, LLC filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. D. Conn. Case No. 26-50401) on June 1, 2026, listing $1,282,262 in assets and $338,325 in liabilities. The petition was signed by Josephine Miller as manager. Judge Julie A Manning presides over the case. Joseph J. D'Agostino, Jr., Esq. at Law Offices of Joseph J. D'Agostino, Jr., LLC serves as the Debtor's counsel. JUMP FINANCIAL: New Term Loan Add-on No Impact on Moody's Ba1 CFR ----------------------------------------------------------------- Moody's Ratings says that the Ba1 corporate family rating and Ba2 senior secured bank credit facility ratings of Jump Financial, LLC (Jump) are unaffected by the company's proposed term loan add-on and revolving credit facility upsizing. The outlook remains unchanged at stable. Jump intends to raise $250 million through an add-on to its existing Term Loan B1, which will result in a pro forma $1.345 billion Term Loan B due 2032. Proceeds from the transaction will be used to support growth of the company's trading capital. In addition, the company plans to upsize the revolving credit facility by $100 million to $350 million. Jump's Ba1 CFR and stable outlook reflect its consistent trading performance and its resilient balance sheet, which is characterized by a strong equity capital base, rapidly turning positions, increased use of crash protection and prudent liquidity. While the firm has incrementally increased its debt to fund its trading operations over the past year, the firm still operates at a level that exceeds its minimum trading capital-to-debt ratio given its continued growth in equity. Moody's calculated leverage for Jump, defined as tangible assets and off-balance-sheet exposures relative to tangible common equity, was 7.5x for the three months ended March 31, 2026. The company continues to grow shareholder equity, exceeding the transaction value. K&M BROADCASTING: Gets OK to Use Cash Collateral Until July 31 -------------------------------------------------------------- K&M Broadcasting, Inc. received another extension from the U.S. Bankruptcy Court for the District of Minnesota to use cash collateral. Under the order, the Debtor is authorized to use cash collateral through July 31 to pay the expenses included in its approved budget. Based on the Debtor's UCC search, Vermillion State Bank holds a secured claim of approximately $675,000 under a 2023 UCC filing. As adequate protection, Vermillion and other secured creditors will receive replacement liens on the Debtor's post-petition assets similar to their pre-petition collateral, with the same priority, dignity and effect as their pre-petition liens. The replacement liens do not apply to any Chapter 5 avoidance actions or claims. Vermillion will also receive payment of $2,300 from the Debtor pursuant to the terms of their stipulation. The order is available at https://is.gd/k5fqsw from PacerMonitor.com. Vermillion, as secured creditor, is represented by: Eric D. Cook, Esq. Wilford, Geske & Cook, P.A. 7616 Currell Boulevard, Suite 200 Woodbury, MN 55125 Phone: (651) 209-3300 ecook@wgcmn.com About K&M Broadcasting Inc. K&M Broadcasting Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Minn. Case No. 26-31547) on May 11, 2026, with up to $50,000 in assets and $500,001 to $1 million in liabilities. Steven Nosek serves as Subchapter V trustee for the Debtor. Judge Mychal A. Bruggeman oversees the case. Mary Sieling, Esq., at Sieling Law, PLLC, represents the Debtor as legal counsel. LATITUDE DENG: Intervenor Wants to Appoint Forshee as Receiver -------------------------------------------------------------- Intervenor Walker & Dunlop, LLC, filed an amended emergency motion with the U.S. District Court for the Western District of Texas, San Antonio Division, seeking the appointment of Catalyst Property Solutions, LLC's Paula Forshee as receiver for Plaintiffs Latitude Deng LLC and Terrain Deng LLC as Borrowers. Defendant Federal Home Loan Mortgage Corporation consents to this Motion and the relief requested. Walker & Dunlop has also filed an Unopposed Emergency Motion to Intervene, which has been traditionally filed pursuant to the District Court's Administrative Policies and Procedures for Electronic Filing. This action arises from the Borrowers' default on loans secured by two multi-family apartment complexes: the Serenity Property, located at 6400 Wurzbach Road, San Antonio, Texas 78240; and the Mosaic Property, located at 5380 Medical Drive, San Antonio, Texas 78249. According to Walker & Dunlop, since December 2024, the Borrowers have failed to make a single debt service payment and currently owe at least $60,671,704.09. Despite such default, they continue to collect rents from tenants without legal authority and without accounting for those funds. Walker & Dunlop has also recently learned that the Borrowers have allowed the Properties to deteriorate to such a degree that resulted in code violations and serious health and safety hazards -- including lack of hot water, mold infestations, and structural defects that have rendered multiple units uninhabitable. Walker & Dunlop, as Servicer for the Loans, seeks to protect Freddie Mac's interest in the Properties. Walker & Dunlop says the immediate appointment of a receiver with full power and authority to assume management and control of the Properties, will address the serious physical conditions documented, ensure proper collection and accounting of rents, and ultimately sell the Properties. Walker & Dunlop further requests that the Court order the Borrowers to deposit all rents collected since the date of default into the registry of the Court to prevent continued dissipation of the collateral pending the receiver's assumption of control. On March 10, 2023, Latitude Deng LLC obtained a loan in the amount of $28,506,000.00 to purchase the Serenity Property. Walker & Dunlop is the original lender for the Serenity Loan. As part of the transaction, Latitude Borrower and Walker & Dunlop executed the Serenity Loan Documents: -- the Multifamily Loan and Security Agreement (the Serenity Loan Agreement); -- the Multifamily Deed of Trust, Assignment of Rents, Security Agreement and Fixture Filing (the Serenity Deed of Trust); -- the Multifamily Note – Fixed Rate (the Serenity Note); and -- the Guaranty – Multistate, executed by MD Khaled Noor and Baruch Teitelbaum for the benefit of the Original Lender. The Serenity Note has a fixed interest rate of 6.11% and requires interest payments in the amount of approximately $4,838.10 per day, or $145,143.00 per thirty-day month. On March 10, 2023, Terrain Deng LLC (Terrain Borrower) obtained a loan for $20,801,000.00 to purchase the Mosaic Property. Walker & Dunlop is the original lender for the Mosaic Loan. As part of the transaction, Terrain Borrower and Walker & Dunlop executed the Mosaic Loan Documents: -- the Multifamily Loan and Security Agreement (the Mosaic Loan Agreement); -- the Multifamily Deed of Trust, Assignment of Rents, Security Agreement and Fixture Filing (the Mosaic Deed of Trust); -- the Multifamily Note – Fixed Rate (the Mosaic Note); and -- the Guaranty – Multistate, executed by MD Khaled Noor and Baruch Teitelbaum for the benefit of the Original Lender. The Mosaic Note has a fixed interest rate of 6.11% and requires interest payments in the amount of approximately $3,530.39 per day, or $105,911.70 per 30-day month. As part of the transaction, both the Mosaic Note and the Mosaic Deed of Trust were assigned to Freddie Mac. Freddie Mac is the current holder of the Mosaic Note and the current beneficiary of the Mosaic Deed of Trust. As Servicer of the Loan Documents and the Properties, Walker & Dunlop's responsibilities include: -- Acting in the most timely, efficient and responsible manner to protect Freddie Mac's interests with respect to Mortgages serviced for Freddie Mac; -- Representing and defending Freddie Mac's interests in the applicable Mortgages or Real Estate Owned (REO) to the extent it would represent and defend its own interest; and -- Maintaining practices sufficient to safeguard Freddie Mac's interests and to respond promptly to the needs of Freddie Mac. With respect to the Properties, Walker & Dunlop is required to support Freddie Mac's efforts to ensure the Borrowers maintain the Properties and exercise diligence to prevent any losses. Freddie Mac has appointed WD with the power of attorney for Walker & Dunlop to represent and defend Freddie Mac's interests under the Loan Documents, including its interest in maintaining and safekeeping the Properties. Beyond the monetary defaults, the Borrowers have allowed the Properties to deteriorate at an alarming rate, which has created an unacceptable risk to the health and safety of tenants at the Properties and is greatly impacting the value of Freddie Mac's collateral. On May 12, 2026, Walker & Dunlop inspected the Properties and documented the conditions with extensive photographic evidence. The inspection findings reveal that both Properties have materially deteriorated and suffer from significant deferred maintenance that threatens the value of the collateral and the health and safety of the tenants. With respect to the Mosaic Property, the recent inspection revealed multiple code violations and an advanced and alarming state of neglect that poses serious health, safety and habitability concerns. The issues identified include, but are not limited to: -- No hot water for nearly three weeks; -- Water heaters currently installed are not code-compliant and are grossly insufficient to service the units; -- Plumbing violations throughout the property; -- Stairs and balconies that are deteriorated or not up to code, which present significant life safety hazards, including one staircase that is completely detached from the building; -- Utility rooms not properly vented, creating a fire hazard; -- Reported rodent infestation, requiring a resident to move out of her unit; -- A collapsed retaining wall; -- Deteriorated building exteriors with damaged wood siding and trim requiring replacement; and -- A pattern of deferred maintenance and neglect, including clogged floor drains and vacant units not ready for rental. The May 12, 2026, inspection revealed that the Serenity Property is also in deteriorating condition: -- Two entire buildings comprising 24 units are non-operational due to broken water heaters and have been non-functional for nearly one year; -- Several units qualify as hard turns, missing essential components such as appliances, flooring, and cabinetry, rendering them uninhabitable and incapable of generating rental income without substantial capital investment; and -- Significant deterioration of asphalt in parking areas throughout the property, presenting tripping hazards and contributing to an overall appearance of neglect. These inspection findings confirm that the Borrowers have defaulted on the Loan Documents by failing to maintain the Properties. Both Properties are experiencing active physical deterioration that, absent the appointment of a receiver, will continue to diminish the value of the collateral and jeopardize the safety of the Properties' tenants. Since December 2024, Borrowers have defaulted on the Loan Documents covering the Properties and owe over $60,671,704.09 as of March 3, 2026. As a result of these defaults, the Properties were posted for a non-judicial foreclosure sale to be conducted on March 4, 2025. In an effort to stave off or at least delay the March 2025 foreclosure, on February 24, 2025, the Borrowers filed for bankruptcy protection, which was jointly administered in the Southern District of Texas. Freddie Mac sought dismissal because the Borrowers could not show that the Mortgaged Properties generated sufficient income to satisfy monthly debt service, taxes, insurance, repairs, and other capital expenditures and on January 5, 2026, the Bankruptcy Court dismissed the bankruptcy cases with prejudice to refiling for 180 days. The Properties were posted for another non-judicial foreclosure sale to be conducted on March 3, 2026. As of March 3, 2026, the Latitude Borrower owed $34,682,958.66, and the Terrain Borrower owed $25,988,745.43 in unpaid principal, interest, late fees, legal fees, and appraisal fees, while continuing to collect and retain rent. To avoid the second foreclosure, on February 26, 2026, the Borrowers filed an ex parte action and obtained a Temporary Restraining Order (TRO) in the 438th Judicial District Court of Bexar County, Texas. Freddie Mac removed this action to this Court on March 10, 2026. On May 21, 2026, the Court held a status conference where Plaintiffs confirmed that they were no longer seeking a preliminary injunction. Having effectively abandoned their challenge to the foreclosure on the Loan Documents, Plaintiffs have nonetheless continued to default on those obligations and have allowed the Properties to deteriorate. The Borrowers are responsible for numerous other defaults under the Loan Documents that remain uncured to this day. Throughout this period, the Borrowers have continued to collect and retain monthly rents from the Properties despite being in default. The Borrowers stopped making debt service payments in December 2024 and have made no payments since. The Borrowers have also failed to provide regular updates of occupancy or property operating statements while in default and have neglected to show evidence of valid insurance protecting the collateral. Due to the Borrowers' refusal to provide evidence of property insurance, Freddie Mac has been forced to place property insurance at a cost of over $50,000 per month for both Properties. The unauthorized collection and retention of rents by the Borrowers represents an ongoing dissipation of the Properties as collateral that can only be remedied through the appointment of a receiver and an order directing the deposit of all rents into the registry of the Court. The lack of equity in the Properties underscores the urgency of a receiver appointment. The unpaid principal balance due on the Serenity Loan is $28,506,000.00. Given current occupancy rates and condition, Freddie Mac engaged a nationally recognized real estate broker to perform a value assessment, which estimated the value of the Serenity Property at only $11,690,000.00. Thus, there is no equity in the Serenity Property, and any further deterioration will directly impair recovery on the Loan. The Mosaic Property is similarly underwater. The unpaid principal balance due on the Mosaic Loan is $20,801,000.00. Freddie Mac engaged a nationally recognized real estate broker to perform a value assessment, which estimated the value of the Mosaic Property at only $12,520,000.00. Thus, there is no equity in the Mosaic Property. With both Properties significantly underwater, every day of continued deterioration directly erodes the collateral available to satisfy the outstanding debt. Under Federal Rule of Civil Procedure 66, "the appointment of a receiver can be sought by anyone showing an interest in certain property or a relation to the party in control or ownership thereof such as to justify conservation of the property by a court officer." Freddie Mac holds valid security interests in both Properties under the respective Deeds of Trust, and WD, as Servicer and based on the power of attorney provided by Freddie Mac, is contractually authorized to act on Freddie Mac's behalf to protect those interests—including by seeking appointment of a receiver. Multiple Events of Default have occurred and are continuing under the Loan Documents. Borrowers have defaulted by, among other things: -- failing to make monthly debt service payments since December 2024, resulting in outstanding obligations totaling over $60 million that remain uncured to this day; -- collecting and retaining rents without legal authority; -- filing for bankruptcy to delay foreclosure; -- failing to maintain insurance coverage; -- failing to provide required records, including occupancy and operating statements; and -- failing to maintain the Properties in good repair and in compliance with applicable laws. Under Texas law, contractual consent provisions in deeds of trust are enforceable and provide adequate grounds for a trial court to order the appointment of a receiver. Furthermore, the appointment of a receiver will enable a qualified professional to assess and prioritize needed repairs, address life/safety hazards, and ensure that the Properties are maintained in a manner that protects the welfare of the tenants and preserves the value of the collateral. There is a high probability that conduct has occurred and will continue to frustrate the secured claim that WD seeks to protect. Borrowers have ceased making Loan payments since December 2024 and owe over $60 million. Upon default, the Borrowers' license to collect rents automatically terminated, and Freddie Mac became entitled, without notice, to all rents as they became due and payable, including rents then due and unpaid. The Properties face imminent danger of diminished value from multiple, compounding sources. First, WD's recent inspection on May 12, 2026, confirms that both Properties are experiencing active physical deterioration that poses serious health, safety, and habitability concerns. Second, the Borrowers' sustained monetary default—now exceeding 16 months—combined with their continuing retention of rents, failure to provide regular occupancy and operating information, and failure to show evidence of valid insurance, demonstrates an ongoing failure to properly manage and maintain the Properties. Third, there is no equity cushion to absorb further decline. The unpaid principal balance on the Serenity Loan is $28,506,000.00, while the Property's estimated value is only $11,690,000.00. The unpaid principal balance on the Mosaic Loan is $20,801,000.00, while the Property's estimated value is only $12,520,000.00. Both Properties are thus significantly underwater, meaning any further deterioration directly impairs recovery on the Loans. Legal remedies are inadequate to protect the interests that Walker & Dunlop seeks to preserve, and no less drastic equitable remedy exists. The Properties constitute the primary collateral and the principal source of recovery on the defaulted Loans. A money judgment against the Borrowers -- even if obtainable -- would be inadequate because the Borrowers have demonstrated an inability or unwillingness to service debt obligations totaling over $60 million and have been collecting and dissipating rents without accountability. Appointing a receiver will do substantially more good than harm. The appointment will benefit WD and Freddie Mac by preserving the value of the collateral through professional management, addressing deferred maintenance, and ensuring proper collection and accounting of rents. Moreover, the proposed Receiver is qualified to manage multifamily properties and will coordinate with all parties to ensure continuity of operations for the tenants. The immediate appointment of a Receiver is therefore warranted on both contractual and equitable grounds. The fifth factor weighs decisively in favor of appointment. Pursuant to Rule 66 of the Federal Rules of Civil Procedure, WD requests that the Court appoint a receiver to take control of and to manage the Properties. The proposed receiver, Paula Forshee of Catalyst Property Solutions, LLC, who is not a party, attorney, or other person interested in this action, and otherwise qualified to serve as receiver under applicable law. In addition, because the Borrowers' licenses to collect rents have automatically terminated under the respective Deeds of Trust and the Borrowers continue to collect and retain rents without authority or accountability, WD requests that the Court order the Borrowers to immediately deposit into the registry of the Court all rents collected from the Properties since the date of default, and to deposit all future rents collected from the Properties into the registry of the Court pending further order of this Court or the appointment and qualification of the Receiver. The deposit of rents into the Court's registry is necessary to prevent the continued dissipation of the collateral and to ensure that rents generated by the Properties are preserved pending the Receiver’s assumption of control. About Latitude Deng LLC and Terrain Deng LLC Latitude Deng LLC and Terrain Deng LLC own two multi-family apartment complexes, the Serenity Property, located at 6400 Wurzbach Road, San Antonio, Texas 78240; and the Mosaic Property located at 5380 Medical Drive, San Antonio, Texas 78249. The Companies are facing a receivership case captioned as, Latitude Deng LLC and Terrain Deng LLC, v. Federal Home Loan Mortgage Corporation, Case No. 5:26-cv-01586 (W.D. Tex.), before the Hon. Xavier Rodriguez. The case was filed on March 10, 2026. The Companies are alleged to be in default under the Serenity Loan in the amount of $28,506,000.00, secured by the Property, which has an estimated value of $11,690,000.00; and under the Mosaic Loan in the amount of $20,801,000.00, secured by the Property, which has an estimated valued of $12,520,000.00. Attorneys for Intervenor Walker & Dunlop, LLC and Defendant Federal Home Loan Mortgage Corporation: Brent W. Martinelli, Esq. QUINTAIROS, PRIETO, WOOD & BOYER, P.A. 1700 Pacific Avenue, Suite 4545 Dallas, TX 75201 Tel: (214)754-8755 Fax: (214)754-8744 E-mail: brent.martinelli@qpwblaw.com - and - Thomas Charles Scannell, Esq. Foley & Lardner LLP Tel: 214-999-4289 E-mail: tscannell@foley.com - and - Vi T. Tran, Esq. Foley & Lardner LLP Tel: 713-276-5500 E-mail: vtran@foley.com Latitude Deng LLC and Jason D. Kraus are represented by: Jason D. Kraus, Esq. The Kraus Law Firm Tel: 281-781-8677 LAW OFFICES OF J.B.: Case Summary & Five Unsecured Creditors ------------------------------------------------------------ Debtor: The Law Offices of J.B. Harris, P.A. c/o DB Mortgage LLC Attn: Stuart Kalb 19 W. Flagler St. Miami, FL 33130 Chapter 11 Petition Date: June 18, 2026 Court: United States Bankruptcy Court Southern District of Florida Case No.: 26-18020 Debtor's Counsel: David L. Rosendorf, Esq. KOZYAK TROPIN & THROCKMORTON, LLP 2525 Ponce de Leon Blvd. 9th Floor Miami, FL 33134 Tel: 305-372-1800 Email: dlr@kttlaw.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Stuart R. Kalb as manager of DB Mortgage LLC, sole shareholder of The Law Offices of J.B. Harris, P.A. A full-text copy of the petition, which includes a list of the Debtor's five unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/HQCKVJA/The_Law_Offices_of_JB_Harris_PA__flsbke-26-18020__0001.0.pdf?mcid=tGE4TAMA LAW OFFICES OF JONATHAN: Case Summary & Five Unsecured Creditors ---------------------------------------------------------------- Debtor: The Law Offices of Jonathan B. Harris, P.A. c/o DB Mortgage LLC Attn: Stuart Kalb 19 W. Flagler St. Miami, FL 33130 Chapter 11 Petition Date: June 18, 2026 Court: United States Bankruptcy Court Southern District of Florida Case No.: 26-18021 Debtor's Counsel: David L. Rosendorf, Esq. KOZYAK TROPIN & THROCKMORTON, LLP 2525 Ponce de Leon Blvd. 9th Floor Miami, FL 33134 Tel: 305-372-1800 Email: dlr@kttlaw.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Stuart R. Kalb as manager of DB Mortgage LLC, sole shareholder of The Law Offices of Jonathan B. Harris, P.A. A full-text copy of the petition, which includes a list of the Debtor's five largest unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/DNTBU4A/The_Law_Offices_of_Jonathan_B__flsbke-26-18021__0001.0.pdf?mcid=tGE4TAMA LM FINLEY: Gets Interim OK to Use Cash Collateral Until July 31 --------------------------------------------------------------- LM Finley Investors, LLC got the green light from the U.S. Bankruptcy Court for the Northern District of Illinois to use cash collateral. The court entered an interim order authorizing the Debtor to use cash collateral for the payments set forth in its budget for February and March, with a variance of up to 10% per month for contingencies. This authorization remains effective through July 31. The Debtor's budget projects total operational expenses of $12,333 for June and $12,833 for July. As adequate protection, Old National Bank will be granted valid, perfected, and enforceable post-petition security interests in the Debtor's assets, including proceeds and products, with the same priority and extent as its pre-bankruptcy liens. This protection applies only to the extent of any diminution in value of the bank's collateral during the interim period and is granted without prejudice to any party's right to contest the liens. As additional protection, the Debtor is required to keep the collateral insured. A further hearing is scheduled for July 20, at 9:30 a.m. The interim order is available at https://tinyurl.com/mrx4zfde from PacerMonitor.com. Old National Bank holds a first mortgage on the Debtor's 4.36-acre property, which includes a 62,682-square-foot office, laboratory, and warehouse facility. The parties dispute the property's value and whether Old National Bank is oversecured or undersecured. The Debtor filed its Chapter 11 petition after losing its two largest tenants in 2025, causing financial strain. Old National Bank had initiated a mortgage foreclosure action against the property in Illinois state court, which prompted the bankruptcy filing. About LM Finley Investors LLC LM Finley Investors LLC is a single asset real estate company in Lombard, Ill. LM Finley Investors sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 25-18581) on December 3, 2025, with between $1 million and $10 million in both assets and liabilities. Honorable Bankruptcy Judge Michael B. Slade handles the case. The Debtor is represented by Keevan D. Morgan, Esq., at Morgan & Bley, Ltd. LUMEXA IMAGING: S&P Rates New $823MM Repriced Term Loan B 'B+' -------------------------------------------------------------- S&P Global Ratings assigned its 'B+' issue-level rating and '3' recovery rating to Lumexa Imaging Inc.'s (a subsidiary of Lumexa Imaging Equity Holdco LLC) proposed new repriced $823 million term loan B. The '3' recovery rating indicates its expectation for meaningful (50%-70%; rounded estimate: 55%) recovery in the event of a default. S&P said, "We view the transaction as leverage neutral because the company will use the proceeds from this facility to retire its outstanding term loan. We also view the potential improvement in Lumexa's free cash flow, due to the reduction in its interest costs from the repricing, as incrementally positive. Furthermore, we view the company's S&P Global Ratings-adjusted leverage of 4.9x for the 12-months ended March 31, 2026, as broadly consistent with our expectations (4.0x-5.0x) for the 'B+' rating. "Our 'B+' issuer credit rating reflects Lumexa's modest scale and limited market share in the highly fragmented, competitive, and commodity like market for outpatient healthcare imaging and radiology services, as well as the reimbursement headwinds from both government and commercial payors. These factors are partially offset by the rising demand for diagnostic imaging, the payor-driven push for these services to be performed in a lower-cost outpatient setting (where Lumexa is focused), and its strong relationships with referring doctors and partnerships with health systems. We expect the company will generally maintain leverage between 4.0x and 5.0x over the longer term." Issue Ratings--Recovery Analysis Key analytical factors -- Lumexa's capital structure will comprise a $250 million first-lien revolving credit facility maturing in 2030 and an $823 million first-lien term loan maturing 2032. -- S&P's simulated default scenario considers a default in 2028 precipitated by intensified competition, declining reimbursement rates, or the termination of third-party payor contracts. S&P assumes the company would reorganize as a going concern to maximize its lenders' recovery prospects, which reflects its good market position. -- S&P assumes the revolver is 85% drawn at the time of default, which reflects its expectation that lenders would amend the covenant in a downturn. -- S&P values Lumexa on a going-concern basis using a 5.5x multiple of its projected emergence-level EBITDA. This multiple is consistent with those S&P uses for its similar peers. -- The '3' recovery rating on the secured debt indicates S&P's expectation for meaningful (50%-70%; rounded estimate: 55%) recovery. Simulated default assumptions -- Simulated year of default: 2028 -- EBITDA at emergence: $114 million -- EBITDA multiple: 5.5x Simplified waterfall -- Enterprise value: $597 million (after 5% administrative costs) -- Valuation split (obligor/nonobligor): 71%/29% -- Collateral value and additional unsecured value available to first-lien creditors: $597 million -- Secured first-lien debt: $1.05 billion --Recovery expectations: 50%-70% (rounded estimate: 55%) Note: All debt amounts include six months of prepetition interest. MADISON ATRINA: Gets OK to Hire Sonora Real Estate as Realtor ------------------------------------------------------------- Madison Atrina Properties, LLC received approval from the U.S. Bankruptcy Court for the District of Arizona to employ Arizona Sonora Real Estate Group, LLC to sell its real properties. The Debtor has agreed to compensate Broker for brokerage services in the amount of 4% of the sale price of a property. Arizona Sonora Real Estate Group, LLC is a "disinterested person" as that term is defined in section 101(14) of the Code, according to court filings. The firm can be reached through: Nidia Almonte Arizona Sonora Real Estate Group, LLC 3610 N 44th Ste 103 Phoenix, AZ 85018 Phone: (888) 619-4626 Email: nidiahomesaz@gmail About Madison Atrina Properties Madison Atrina Properties, LLC owns and leases a residential property in Scottsdale, Arizona. Madison Atrina Properties sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Ariz. Case No. 26-03335) on April 6, 2026. In the petition signed by Joshua B. Rapaport, member, the Debtor disclosed up to $10 million in both assets and liabilities. Kelly G. Black, Esq., at J. Grant Walker, PLLC represents the Debtor as counsel. MARELLI AUTOMOTIVE: Plan Exclusivity Period Extended to Oct. 13 --------------------------------------------------------------- Judge Craig T. Goldblatt of the U.S. Bankruptcy Court for the District of Delaware extended Marelli Automotive Lighting USA LLC and affiliates' exclusive periods to file a plan of reorganization and obtain acceptance thereof to Oct. 13 and Dec. 10, 2026, respectively. As shared by Troubled Company Reporter, the Debtors explain that it is clear that their capital structure, which as of the Petition Date consisted of approximately $4.9 billion in funded debt obligations, is large and complex. The 76 Debtors have obligations to a tremendous number of stakeholders across the globe, including approximately 46,000 employees as of the Petition Date, and a wide variety of parties in interest, including vendors, customers, creditors, facility and equipment lessors, other contractual counterparties, and local, state, and federal agencies. The Debtors assert that their restructuring process is intended to confirm a plan that maximizes the value of the Debtors' estates for all stakeholders. Since the commencement of these chapter 11 cases, the Debtors have worked, and will continue to work, diligently and constructively with stakeholders to build additional consensus for the Debtors' proposed chapter 11 transactions. The Debtors further assert that their exclusivity extension request is not intended to pressure creditors to submit to the Debtors' restructuring demands but to provide sufficient time for the Debtors to file and eventually confirm a value-maximizing chapter 11 plan and implement the transactions contemplated thereby without the disruption and distraction created by competing plan proposals. Accordingly, the relief requested herein is without prejudice to the Debtors' creditors and will benefit the Debtors' estates, their creditors, and all other key parties in interest. Co-Counsel for the Debtors: Laura Davis Jones, Esq. Timothy P. Cairns, Esq. Edward A. Corma, Esq. PACHULSKI STANG ZIEHL & JONES LLP 919 North Market Street, 17th Floor P.O. Box 8705 Wilmington, Delaware 19899 (Courier 19801) Tel: (302) 652-4100 Fax: (302) 652-4400 Email: ljones@pszjlaw.com tcairns@pszjlaw.com ecorma@pszjlaw.com Co-Counsel for the Debtors: Joshua A. Sussberg, P.C. Nicholas M. Adzima, Esq. Evan Swager, Esq. KIRKLAND & ELLIS LLP KIRKLAND & ELLIS INTERNATIONAL LLP 601 Lexington Avenue New York, New York 10022 Telephone: (212) 446-4800 Facsimile: (212) 446-4900 Email: joshua.sussberg@kirkland.com nicholas.adzima@kirkland.com evan.swager@kirkland.com - and - Ross M. Kwasteniet, P.C. Spencer A. Winters, P.C. 333 West Wolf Point Plaza Chicago, Illinois 60654 Tel: (312) 862-2000 Fax: (312) 862-2200 Email: ross.kwasteniet@kirkland.com spencer.winters@kirkland.com About Marelli Automotive Lighting USA Marelli Automotive Lighting USA, LLC is a global automotive parts supplier based in Saitama, Japan. The company designs and manufactures advanced technologies for leading automakers, including lighting systems, electronic components, software solutions, and interior products. Operating in 24 countries with a workforce of over 46,000, Marelli also collaborates with motorsports teams and industry partners on high-performance component development. Marelli and its affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Lead Case No. 25-11034) on June 11, 2025. In its petition, Marelli reported between $1 billion and $10 billion in assets and liabilities. Judge Brendan Linehan Shannon handles the cases. The Debtors are represented by Kirkland & Ellis LLP, Kirkland & Ellis International LLP, and Pachulski Stang Ziehl & Jones LLP. Alvarez & Marsal North America, LLC is the Debtors' restructuring advisor. PJT Partners Inc. is the Debtors' investment banker. Kurtzman Carson Consultants, LLC, doing business as Verita Global, is the Debtors' notice and claims agent. The U.S. Trustee for Region 3 appointed an official committee to represent unsecured creditors in the Debtors' Chapter 11 cases. The committee tapped Paul Hastings, LLP and Morris James, LLP as legal counsel and FTI Consulting, Inc. as its financial advisor. MCHUGH JUNK: Gets Final OK to Use Cash Collateral ------------------------------------------------- McHugh Junk Removal, Inc. received final approval from the U.S. Bankruptcy Court for the District of Massachusetts, Central Division, to continue using cash collateral. The court authorized the Debtor to use cash collateral in accordance with an approved budget through Sept. 10. As adequate protection for secured creditors, the court granted replacement liens and security interests to all secured creditors to the same extent, validity, and enforceability as their perfected pre-petition security interests. These replacement liens apply only to the extent that the Debtor's use of cash collateral results in a decrease in the value of the creditors' collateral. The order preserves the rights of all parties to challenge the amount, validity, perfection, priority, extent, or enforceability of any liens. Nothing in the motion or the order constitutes a waiver of those rights. The court scheduled a further hearing on Sept. 10. The Debtor must file a reconciled budget by Sept. 8, showing actual and projected income, expenses, and bank account balances for June through August, along with financial projections through November. This reporting requirement will allow the court and creditors to monitor the Debtor's financial performance while it continues operating under Chapter 11 protection. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/byNV4 from PacerMonitor.com. About McHugh Junk Removal Inc. McHugh Junk Removal, Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Mass. Case No. 25-41270) on November 24, 2025, with up to $500,000 in assets and up to $1 million in liabilities. William F. McHugh, president, signed the petition. Judge Elizabeth D. Katz oversees the case. Louis S. Robin, Esq., at Law Offices of Louis S. Robin, represents the Debtor as legal counsel. MEGA KYON: Court Extends Cash Collateral Access to Aug. 6 --------------------------------------------------------- Mega Kyon, Inc. received another extension from the U.S. Bankruptcy Court for the District of Massachusetts to use cash collateral. The court entered a proceeding memorandum and order authorizing the Debtor's interim use of cash collateral through Aug. 6 to fund its operations. Under the order, the Debtor is required to file by Aug. 4 a reconciled budget showing actual to projected income and expenses for the period ending July 31, as well as beginning and ending bank balances monthly and a projected budget for August, September and October. The next hearing is scheduled for Aug. 6. At the time of filing, the Debtor reported assets including approximately $43,765 in cash, $190,119 in inventory, and various retail equipment such as computers, shelving, and fixtures. Three secured creditors assert liens on substantially all assets of the Debtor: Cadence Bank (approximately $1.27 million secured by a 2022 UCC filing), Ready Cap Lending, LLC (approximately $45,880 secured by an SBA-related loan), and Newtek Bank, N.A. (approximately $276,842 secured by a 2024 business loan). These creditors collectively hold interests in the Debtor's cash collateral. About Mega Kyon Inc. Mega Kyon, Inc., doing business as Pet Supplies Plus, operates a pet supplies retail store at 1150 Newport Ave. in Attleboro, Massachusetts. Mega Kyon filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. D. Mass. Case No. 26-40523) on May 4, 2026, with $262,309 in assets and $1,840,224 in liabilities. John Barris as president, president of Mega Kyon, signed the petition. Judge Elizabeth D. Katz oversees the case. Marques Lipton, Esq., at Lipton Law Group, LLC represents the Debtor as bankruptcy counsel. Stephen Darr of Huron Consulting Group serves as Subchapter V trustee for the Debtor. MIDWEST PHYSICIAN: S&P Rates New Senior Secured Term Loan 'B-' -------------------------------------------------------------- S&P Global Ratings assigned its 'B-' issue-level rating and '3' recovery rating to the proposed senior secured term loan and revolver issued by DMG Practice Management Solutions LLC's subsidiary Midwest Physician Administrative Services LLC. The '3' recovery rating indicates S&P's expectation for meaningful (50%-70%; rounded estimate: 60%) recovery in the event of a payment default. The company intends to use the proceeds from this issuance to refinance its existing senior secured debt. The new term loan will have a cash interest spread of 450 basis points (bps), which compares with the 325 bps spread on its existing debt. If the transaction is successful, DMG will extend the maturities of its senior secured debt to March 2031. This will eliminate the refinancing risk associated with the company's 2027 revolver and 2028 term loan maturities and provide it with additional leeway to continue improving its profitability and cash flow ahead of its next refinancing cycle. In addition, DMG is issuing $325 million of new 14% payment-in-kind (PIK) preferred equity, which it will use the proceeds from to repay its outstanding revolver balance, a portion of the outstanding balance on its accounts-receivable securitization facility, and a portion of its first-lien debt. The company is also issuing $51 million of new 16% PIK preferred equity and will use the proceeds to repay the subordinated PIK notes it issued earlier this year. S&P will treat the preferred equity as debt-like and include it in our adjusted credit metrics. The transaction will reduce the size of DMG's senior secured term loan; however, the increase in the interest spread will likely offset any cash interest benefits associated with the reduction in its senior secured debt. S&P views the transaction as leverage neutral and don't anticipate it will have any impact on its recovery analysis because it will not materially affect the amount of S&P Global Ratings-adjusted debt in the capital structure. S&P said, "The 'B-' issuer credit rating on DMG reflects our expectation it will continue to increase its revenue by the high-single-digit percent area in 2026 (not including a revenue decline due to the contract conversion to partial risk), supported by organic growth in its fee-for-service segment and more covered lives under its capitated revenue segment. We continue to expect the company will generate break-even to modestly positive S&P Global Ratings-adjusted free operating cash flow beginning in 2026." ISSUE RATINGS--RECOVERY ANALYSIS Key analytical factors -- DMG's proposed capital structure will comprise a priority $150 million accounts-receivable securitization facility due 2027, a $100 million revolver due 2031, and a $570 million first-lien term loan (including incremental debt) due 2031. -- S&P assumes the revolver would be 85% drawn at default. -- Given the company's position, where it operates, and the continued demand for its services, S&P believes it would remain a viable business and therefore reorganize rather than liquidate following a payment default. -- S&P's simulated default scenario considers a default in 2028 stemming from pricing and volume pressures, likely because of intensified competition. Simulated default assumptions -- Simulated year of default: 2028 -- Implied enterprise value (EV) multiple: 5.5x -- EBITDA at emergence: $107 million Simplified waterfall -- Net EV (after 5% administrative costs): $561 million -- Valuation split (obligors/nonobligors): 100%/0% -- Priority claims: $156 million -- Collateral value available to secured (nonpriority) creditors: $405 million --Recovery expectations: 50%-70% (rounded estimate: 60%) Note: All debt amounts include six months of prepetition interest. MIRO HOUSE: Case Summary & Six Unsecured Creditors -------------------------------------------------- Debtor: Miro House Inc. 1012 S. Robertson Blvd. Suite G Los Angeles, CA 90035 Business Description: Miro House Inc. provides front of house staffing, front of house management, and unarmed security services. The company serves hospitality, nightlife, hotel, and retail settings through services including guest list management, guest greeting, pedestrian flow management, guest escorting, and host and hostess staffing. Miro House was started in 2005 and has offices in Los Angeles, California and Sydney, Australia. Chapter 11 Petition Date: June 19, 2026 Court: United States Bankruptcy Court Central District of California Case No.: 26-16176 Judge: Hon. Barry Russell Debtor's Counsel: Laura Portillo, Esq. PORTILLO RONK LEGAL TEAM 5716 Corsa Ave, #207 Westlake Village CA 91362 Tel: (805) 203-6123 E-mail: Attorneys@portilloronk.com Total Assets: $779,446 Total Liabilities: $2,837,916 The petition was signed by Miroslav Kubicek as CEO. A full-text copy of the petition, which includes a list of the Debtor's six unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/O3CPLMQ/Miro_House_Inc__cacbke-26-16176__0001.0.pdf?mcid=tGE4TAMA MONARCH BAY: Hires Smith McDowell & Powell as Special Counsel ------------------------------------------------------------- Monarch Bay For Sale Residential, LLC seeks approval from the U.S. Bankruptcy Court for the Central District of California to hire Smith, McDowell & Powell, A Law Corporation as special litigation counsel. The Debtor requires the counsel experienced in the assertion of claims by developers against California governmental units, which claims are governed by unique and complicated rules under California law, to investigate, analyze, and potentially prosecute claims against the City of San Leandro. The firm's current hourly rates are: Partners and Of Counsel $425 to $500 Associates $350 to $425 Paralegals $100 to $150 Law Clerks $125 to $175 Legal Assistants $ 60 to $ 90 C. Jason Smith, a shareholder of Smith, McDowell & Powell, assured the court that the firm is a "disinterested person," as that term is defined in section 101(14) of the Bankruptcy Code. The firm can be reached through: C. Jason Smith, Esq. Smith, McDowell & Powell, a Law Corporation 711 University Avenue Sacramento, CA 95825 Telephone: (916) 569-8100 Email: cjsmith@smplawcorp.com About Monarch Bay for Sale Residential Monarch Bay For Sale Residential, LLC, is engaged in activities related to real estate. Monarch Bay For Sale Residential, in Los Angeles CA, filed its voluntary petition for Chapter 11 protection (Bankr. C.D. Cal. Case No. 24-14877) on June 20, 2024, listing as much as $10 million to $50 million in both assets and liabilities. Edward J. Miller as president of Manager, signed the petition. Judge Deborah J Saltzman oversees the case. David B. Shemano, Esq., at ShemanoLaw, serves as the Debtor's legal counsel. MORNING LAVENDER: Case Summary & 20 Largest Unsecured Creditors --------------------------------------------------------------- Debtor: Morning Lavender, LLC 330 El Camino Real Tustin, CA 92780 Business Description: Morning Lavender, LLC, founded in 2014 and based in Tustin, California, operates a women's apparel and accessories boutique and cafe concept, selling feminine dresses, tops and related items online and through Southern California stores while offering coffee, tea, light bites, afternoon tea and private tea-party services at its Tustin flagship. Chapter 11 Petition Date: June 16, 2026 Court: United States Bankruptcy Court Central District of California Case No.: 26-11858 Debtor's Counsel: Thomas J. Polis, Esq. POLIS & ASSOCIATES, APLC 19800 MacArthur Boulevard, Suite 1000 Irvine, CA 92612-2433 Tel: (949) 862-0040 Fax: (949) 862-0041 E-mail: tom@polis-law.com Estimated Assets: $100,000 to $500,000 Estimated Liabilities: $1 million to $10 million The petition was signed by Kim Le Pham as CEO. A full-text copy of the petition, which includes a list of the Debtor's 20 largest unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/7CKX6BA/Morning_Lavender_LLC__cacbke-26-11858__0001.0.pdf?mcid=tGE4TAMA NAVY PIER: Moody's Affirms Ba2 Revenue Bond Rating, Outlook Stable ------------------------------------------------------------------ Moody's Ratings has affirmed Navy Pier, Inc.'s (IL) (NPI) Ba2 revenue bond rating. NPI had approximately $58 million of debt outstanding as of fiscal 2025. The outlook is stable. RATINGS RATIONALE The affirmation of the Ba2 rating reflects NPI's brand strength and strategic positioning as a highly visible cultural institution in Chicago hosting approximately 8 million visitors per year. The popularity and scale of the pier offer prospects for continued earned revenue growth and philanthropic opportunities. NPI benefits from good diversity across its earned revenue streams and the expense base retains some flexibility. Budget predictability is enhanced with most of its expenses locked in through various service agreements and tenant arrangements. However, NPI has limited financial flexibility. Total cash and investments provide thin coverage over total adjusted debt and the growing expense base. Further, operating cash flow provides limited resources for reinvestment, and debt service coverage will narrow as debt service obligations rise in fiscal 2027. Any material strengthening of margins will likely have to come from philanthropy or government support, both of which have uncertain growth prospects. RATING OUTLOOK The stable outlook incorporates the maintenance of EBIDA margins in the 11%-15% range but acknowledges that cash flow for reinvestment will remain thin. It further incorporates maintenance of unrestricted liquidity with no new debt. FACTORS THAT COULD LEAD TO AN UPGRADE OF THE RATINGS -- Strengthened reserve levels that afford greater financial flexibility with monthly days cash on hand of at least 100 days -- EBIDA margins that provide at least 2x debt service coverage on a sustained basis, generating enough excess cash flow for capital and other reinvestment needs -- Sustained and stronger fundraising, contributing to reserve growth, providing funding for reinvestment, and diversifying revenue FACTORS THAT COULD LEAD TO A DOWNGRADE OF THE RATINGS -- Decline in total cash and investments and unrestricted liquidity, with monthly days cash on hand below 60 days -- Inability to sustain at least 1x debt service coverage -- Lack of internal and external sources of funding to sustainably support capital needs -- Additional debt absent a rise in EBIDA PROFILE Established in 1916, the Navy Pier is a nonprofit landmark with a legacy of public recreation. The pier hosts approximately 8 million visitors annually and offers free admission to all its visitors, which include Chicago residents and visitors from around the world. The pier's operations are diverse and span cultural attractions, events, public programming, conference and meeting engagements, and commercial retail. Navy Pier, Inc. is a 501(c)(3) not-for-profit organization established on January 04, 2011, for the purpose of managing, operating and redeveloping Navy Pier. The pier is owned by the Metropolitan Pier and Exposition Authority ("MPEA"), a local government entity established by the Illinois General Assembly. NPI was created to relieve MPEA of the obligation to steward and develop the pier. MPEA maintains its oversight over the Navy Pier by having three ex-officio board members. MPEA does not have any management oversight of the pier's operations, so long as the operations and redevelopment remain consistent with the agreed-upon tenets of the Centennial Vision. NPI, at its convenience, maintains the right to return oversight and management of the Navy Pier to MPEA. While MPEA is backstopped by the State, NPI is not - and NPI does not receive operating or capital support from MPEA. METHODOLOGY The principal methodology used in this rating was Nonprofit Organizations (Other Than Healthcare and Higher Education) published in August 2024. NBG MACHINE: Unsecured Creditors Out of Money in Sale Plan ---------------------------------------------------------- NBG Machine Builders & Precision Tooling, Inc., filed with the U.S. Bankruptcy Court for the District of Puerto Rico a Small Business Plan of Reorganization under Subchapter V dated June 11, 2026. The Debtor is a corporation incorporated under the laws of the Commonwealth of Puerto Rico on April 11th, 2006, with its principal place of business at Carretera 117, KM 11.4, Barrio Rayo Plata, Sabana Grande, Puerto Rico. The Debtor was organized for the purpose of offering industrial machining services, manufacturing precision parts for the pharmaceutical industry, general manufacturing, repair, maintenance, and manufacture of critical components for production processes, and providing technical support for automated systems and industrial equipment. The Debtor filed this Chapter 11 Sub-chapter V petition on March 13, 2026, to halt foreclosure proceedings initiated by its secured creditor, FirstBank Puerto Rico, and by Mr. Ernesto Riopedre Abreu, over the Debtor's commercial real property, and to propose an orderly liquidation of its assets for the benefit of creditors. Prior to filing, the Debtor attempted to negotiate feasible repayment alternatives with its secured creditors, but the options offered were not viable given the Debtor's inability to re establish business operations and recruit the necessary employees following natural disasters and changes in the economy. This Plan is a purely liquidating plan. The Debtor will not continue operations. Its sole purpose is to sell all of the Debtor's assets the Commercial Property and the business Equipment through an orderly, privately marketed sale process managed by a licensed commercial equipment and real estate realtor, to maximize creditor recovery, and to distribute the net proceeds in the order of priority established by the Bankruptcy Code. The Debtor's only significant assets are: (a) the commercial real property located at Carretera 117, KM 11.4, Barrio Rayo Plata, Sabana Grande, Puerto Rico (the "Commercial Property"), which is the same premises from which the Debtor operated its business; and (b) the Debtor's machinery, equipment, and inventory (the "Equipment") located therein. The Debtor has been unable to re-establish business operations and has no income stream from which to fund plan payments. Accordingly, all distributions under this Plan will be funded exclusively from the proceeds of the private sale of the Commercial Property and the Equipment. This Liquidating Plan of Reorganization under Chapter 11, Sub-chapter V, proposes to pay the Debtor's creditors from the net proceeds of the combined private sale of the Commercial Property and the Equipment, to be consummated within twenty-four months of the entry of the Confirmation Order, and from monthly adequate protection payments to FirstBank Puerto Rico commencing July 1, 2026. The Debtor will not continue operations. All assets will be liquidated and the case closed upon completion of all distributions and remaining ministerial acts. Class 4 consists of General Unsecured Claims. All holders of allowed general unsecured claims will receive $0.00 under this Plan. The estate is projected to be fully exhausted after payment of CRIM's secured claim, FirstBank's secured claim, and all allowed administrative expense claims. The anticipated dividend to general unsecured creditors is $0.00. Class 5 consists of Equity Interest Holders. There are no equity interest holders to be paid under this Plan. The exclusive means of implementing this Plan and funding all distributions to creditors is the combined private sale of the Debtor's Commercial Property, Finca No. 15778, Karibe System, San Germán Registry, and the Debtor's machinery, equipment, and inventory, to the highest and best bidder through an arms-length, open-market transaction managed by a licensed commercial equipment and real estate realtor in Puerto Rico, free and clear of all liens, claims, encumbrances, and interests pursuant to Section 363(f), with all valid liens attaching to the net sale proceeds in order of their respective priority as set forth herein. A full-text copy of the Subchapter V Plan dated June 11, 2026 is available at https://urlcurt.com/u?l=aNlGDI from PacerMonitor.com at no charge. About NBG Machine Builder & Precision Tooling NBG Machine Builders & Precision Tooling, Inc., a company based in Sabana Grande, Puerto Rico, delivers precision machining and custom tooling solutions for industrial clients. Its operations include manufacturing precision parts for the pharmaceutical sector and general manufacturing, repairing and maintaining critical production components, and providing technical support for automated systems and industrial equipment. Founded in 2006 and led by President Welderman Matos Alemany, the company employs a few staff. NBG filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. D.P.R. Case No. 26-01087) on March 13, 2026, with $1,060,708 in assets and $862,799 in liabilities. Welderman Matos Alemany, president of NBG, signed the petition. Judge Maria De Los Angeles Gonzalez oversees the case. The Debtor is represented by: Juan C. Bigas, Esq. Juan C. Bigas Law PO Box 7011 Ponce, PR 00732-7011 Telephone: (787) 259-1000 E-mail: cortequiebra@yahoo.com NEW HOPE: Seeks to Hire TrimnerBeckham PLLC as Accountant --------------------------------------------------------- New Hope Housing, Inc. seeks approval from the U.S. Bankruptcy Court for the Eastern District of Virginia to hire TrimnerBeckham, PLLC as its accountant. TrimnerBeckham will prepare the taxes of the Debtor and provide additional tax advising services throughout the Case. TrimnerBeckham's services related to the preparation, signing, and filings of the Debtor's taxes are subject to a cap of $4,900 per year, with total service fees not to exceed $14,700. TrimnerBeckham is a "disinterested person," as defined in section 101(14) of the Bankruptcy Code and as required by section 327(a) of the Bankruptcy Code, according to court filings. The firm can be reached through: David Trimner TrimnerBeckham, PLLC 1750 Tysons Blvd Ste 1500 McLean, VA 22102 Phone: (703) 663-1756 Email: solutions@trimnerbeckham.com About New Hope Housing Inc. New Hope Housing, Inc. is a non-profit agency based in Alexandria, Virginia. Founded in 1977, the organization has provided services to homeless families and single adults since 1978. It offers housing programs and support services in Northern Virginia, including group homes, Housing First apartments, homeless prevention and rapid re-housing, education and employment support, and mobile medical outreach. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Va. Case No. 26-11054) on May 1, 2026, with $1 million to $10 million in assets and liabilities. Ann Barrett, executive director, signed the petition. Judge Brian F Kenney oversees the case. Brittany B. Falabella, Esq. at HIRSCHLER FLEISCHER, P.C. represents the Debtor as legal counsel. NEXT GENERATION: Hires Castleberry & Associates as Accountant ------------------------------------------------------------- Next Generation Roofing LLC seeks approval from the U.S. Bankruptcy Court for the Western District of Arizona to hire Castleberry & Associates as accountant. The firm will be performing all accounting related tasks, including, but not limited to, preparing all of Debtor's accounting, filing Debtor's tax returns, preparing Monthly Operating Report and other required financial reporting requirements in this case and otherwise provide general accounting and related support needed to assist Debtor in preparing and maintaining all Debtor's books and records. The rate for Castleberry's services is $295 dollars per hour. As disclosed in the court filing, Castleberry does not hold or represent an interest adverse to the bankruptcy estate and is a disinterested person. The firm can be reached through: Robert Castleberry, CPA Castleberry & Associates 540 Merchant Dr. Norman, OK 73069 Telephone: (405) 364-5830 About Next Generation Roofing LLC Next Generation Roofing, LLC provides roofing installation and inspection services in Oklahoma City, Oklahoma, serving property owners with roof assessments and related exterior-damage evaluations. The company, led by Robert E. Baker, offers roofing contractor services that include support for property inspections and insurance-claim-related assessments. Next Generation Roofing filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. W.D. Oklahoma Case No. 26-11534) on May 6, 2026, with between $1 million and $10 million in both assets and liabilities. Stephen Moriarty, Esq., at Fellers, Snider, Blankenship, Bailey & Tippens, P.C., serves as Subchapter V trustee. Judge Janice D Loyd oversees the case. The Debtor tapped Gary D. Hammond, Esq., and Olivia G. Kilby, Esq., at Hammond Law Firm and Amanda R. Blackwood, Esq., at Blackwood Law Firm, PLLC as bankruptcy counsel. NM SOUTH: Seeks to Hire Penn Law Firm as Local Bankruptcy Counsel ----------------------------------------------------------------- NM South, LLC seeks approval from the U.S. Bankruptcy Court for the District of Delaware to employ Penn Law Firm, LLC, as local bankruptcy counsel. The firm's services include: (a) advising Debtor of its rights, powers and duties; (b) attending meetings with Debtor and hearings before the Court; (c) assisting other professionals retained by Debtor in the investigation of the acts, conduct, assets, liabilities and financial condition of Debtor, and any other matters relevant to the case or to the formulation of a plan of reorganization or liquidation; (d) investigating the validity, extent, and priority of secured claims against Debtor's estate, and investigating the acts and conduct of such secured creditors and other parties to determine whether any causes of action may exist; (e) advising Debtor with regard to the preparation and filing of all necessary and appropriate applications, motions, pleadings, draft orders, notices, schedules, and other documents, and reviewing all financial and other reports to be filed in these matters; (f) advising Debtor with regard to the preparation and filing of responses to applications, motions, pleadings, notices and other papers that may be filed and served in this chapter 11 case by other parties; and (g) performing other necessary legal services for and on behalf of Debtor that may be necessary or appropriate in the administration of this chapter 11 case. The firm will charge hourly rates ranging from $350 to $425 for attorneys and $100 to $175 for bankruptcy paralegals and assistants. The hourly rate for the attorney primarily involved in this matter, W. Harrison Penn, is $400 per hour. Penn Law Firm, LLC is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code, according to court filings. The firm can be reached at: W. Harrison Penn, Esq. PENN LAW FIRM, LLC 1517 Laurel Street Columbia, SC 29201 Telephone: (803) 771-8836 E-mail: hpenn@pennlawsc.com About NM South, LLC NM South, LLC, a real estate-related company listed in Bluffton, South Carolina, is associated with a single-family residential estate at 28 Seven Oaks Drive. NM South, LLC in Bluffton, SC, sought relief under Chapter 11 of the Bankruptcy Code filed its voluntary petition for Chapter 11 protection (Bankr. D. Del. Case No. 26-10653) on May 3, 2026, listing $10 million to $50 million in assets and $1 million to $10 million in liabilities. Ryan Lynch as sole member, signed the petition. Judge Mary F. Walrath oversees the case. BIELLI & KLAUDER, LLC serve as the Debtor's legal counsel. OMEGA INVESTIGATION: Unsecureds Will Get 1.5% over 60 Months ------------------------------------------------------------ Omega Investigation Services, Corp. filed with the U.S. Bankruptcy Court for the District of Puerto Rico a Plan of Reorganization for Small Business dated June 11, 2026. Since 2014, the Debtor has been in the business of providing private security services, access control, security patrols, surveillance services, monitoring services, and related security solutions to residential communities, commercial establishments, educational institutions, government entities, and private clients throughout Puerto Rico. The Plan Proponent's financial projections show that the Debtor will have projected disposable income of $337,855. The final Plan payment is expected to be paid on October 1, 2031. This Plan of Reorganization proposes to pay creditors of the Debtor from cash flow from operations. Non-priority unsecured creditors holding allowed claims will receive distributions, which the proponent of this Plan has valued at approximately cents on the dollar. This Plan also provides for the payment of administrative and priority claims. Class 2 consists of Non-priority unsecured creditors. Each holder of an Allowed General Unsecured Claim shall receive a pro rata distribution equal to 1.5% of its allowed claim. Such distribution shall be paid in sixty equal monthly payments after the Effective Date of the Plan. Upon completion of such distribution, all remaining balances of Class 3 claims shall be deemed satisfied and discharged. This Class is impaired. Class 3 consists of Equity security holders of the Debtor. Luis Crespo as the only shareholder who provided new value ($20,000.00 and the cancellation of pre-petition debs of $27,000.00) to Debtor in order to comply with the absolute priority rule through the post petition financing approved by the Court, will be retain his shares in the corporation. The interest of all other shareholders will be canceled on the Effective Date of the Plan. The plan will be funded from debtor's cash flow and the capital contribution of Mr. Luis Crespo. A full-text copy of the Plan of Reorganization dated June 11, 2026 is available at https://urlcurt.com/u?l=2GfxVc from PacerMonitor.com at no charge. Counsel to the Debtor: Alexis Fuentes-Hernandez, Esq. 366 Calle Fortaleza, Fl. 2 San Juan, PR 00901 About Omega Investigation Services Corp. Omega Investigation Services Corp. is a company presumably providing investigation and security-related services based in San Juan, Puerto Rico. Omega Investigation Services sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.P.R. Case No. 25-03647) on Aug. 15, 2025. In its petition, the Debtor listed assets between $100,000 and $500,000, and liabilities between $500,000 and $1 million. The Debtor is represented by Alexis Fuentes-Hernandez, Esq. OPENLANE INC: S&P Raises ICR to 'B+' on Preferred Share Conversion ------------------------------------------------------------------ S&P Global Ratings raised its issuer credit rating on OPENLANE Inc. converted the remaining $290 million of its preferred stock to 'B+' from 'B'. Simultaneously, S&P raised the issue-level rating on its term loan to 'B+' from 'B'. There is no change to its '3' recovery rating, indicating its expectation of meaningful recovery (50%-70%, rounded estimate: 60%) in the event of a payment default. The stable outlook reflects improved profitability in OPENLANE's marketplace segment with segment margins above 10%, which supports better cash flow generation and leverage. OPENLANE Inc. converted the remaining $290 million of its preferred stock into common equity, structurally improving its credit metrics. Operating performance in its marketplace segment remains solid, with S&P Global Ratings-adjusted EBITDA margins approaching 12% this year, supporting debt to EBITDA below 3x and free operating cash flow (FOCF) to debt above 10%. The upgrade reflects improved credit metrics following the conversion of the company's preferred stock into common equity, along with improved operating performance. As previously anticipated in S&P's positive outlook, the conversion of the remaining preferred stock into common has been completed, reducing our adjustment to the company's debt by approximately $290 million. This significant deleveraging, combined with improved marketplace profitability, enhances OPENLANE's credit metrics. S&P now forecasts debt to EBITDA of 2.9x and FOCF to debt of 12.8% in 2026 for its marketplace business. Its first-quarter 2026 results were positive, with good volume growth, steady auction economics, and better operating leverage to drive margin expansion. Revenues in the first quarter of 2026 increased 12% versus the same period the prior year as vehicles sold in commercial and dealer consignment channels both increased. Commercial vehicle volumes sold grew more than 20% in the first quarter of 2026 compared with same period in the prior year due to the onboarding of a new private-label customer combined with improving off-lease supply and rising used vehicle prices. The new customers' portfolio consists of premium/luxury vehicles that is accretive to average vehicle values and favorably improved margin for the marketplace segment during the quarter. Marketplace segment EBITDA margins increased to 14% in Q1 2026 from below 10% the same period last year and 11.7% in 2025. Though margins accelerated in the first quarter, S&P expects volumes and mix to normalize for the balance of 2026, leading to full-year S&P Global Ratings-adjusted EBITDA margin of 11.8% this year and slightly above 12% thereafter. S&P said, "The combination of a lower debt base and improving free operating cash flow (FOCF) generation—supported by higher EBITDA and disciplined capital expenditure—facilitated faster deleveraging than we had previously envisioned. While the digital auction market remains competitive, we expect the company to primarily use its strong free cash flow to fund capital expenditures and share buybacks. We also do not expect the company to engage in a large debt-funded acquisition in our base case. "Our analytical approach reflects our separate assessments of OPENLANE's distinct marketplace and finance segments. We continue to assess the company's marketplace segment under our corporate and infrastructure finance rating methodology; whereas for the finance segment we apply our financial institutions rating methodology, which we believe to be better suited. We then combine our assessments of the two segments to arrive at our overall view of the company's creditworthiness. "We expect the finance segment will sustain consistent operational performance and generate steady FOCF." OPENLANE's finance segment, through which it offers floorplan financing to independent vehicle dealers, operates at a smaller scale relative to the broader floorplan financing space. This segment had reported assets of about $2.4 billion and operated with adequate leverage (adjusted debt to equity) of about 2.9x as of March 31, 2026. The company competes with other specialty lenders, banks, and financial institutions, such as NextGear, in this segment. However, its customer base comprises dealers with relatively weaker credit quality who would find it difficult to access funding from more-established financial institutions. Despite the weakness of its customer base, this segment has averaged a healthy net yield of about 14% while maintaining average credit provisions and loss rates of close to 2% over the past few years, supported by its robust credit underwriting standards. S&P said, "We believe OPENLANE can sustain these rates on a long-term basis and expect this segment will continue to generate reported FOCF of about $150 million on an annual basis. We think the company could use this FOCF for strategic needs or shareholder return policies." The stable outlook reflects improved profitability in OPENLANE's marketplace segment, with segment margins above 10%, which supports better cash flow generation and leverage. S&P could lower its rating on OPENLANE if: -- Operating performance deteriorates, causing margins to tighten sharply leading to leverage approaching 6x and FOCF to debt below 5%. Weaker performance could be caused by customer loss or delayed recovery in off-lease volumes; or -- Management pursues an aggressive financial policy that prioritizes shareholder returns, thereby weakening credit metrics; or -- Leverage in its finance segment (as measured by debt to S&P Global Ratings-adjusted total equity) increases above 4.5x, its credit loss rates rise materially, or its liquidity deteriorates. S&P could raise its rating on OPENLANE if its marketplace segment's: -- Debt to EBITDA remains below 3x; -- FOCF to debt stays above 15%; and -- Its finance segment continues to generate steady free cash flow; and -- The company increases its scale and further improves margins. S&P could also raise its rating on OPENLANE if it reduces the leverage in its financing business (as measured by debt to S&P Global Ratings-adjusted total equity) below 2.75x while managing loss levels below 2% and maintaining steady operating performance. OSMOSIS HOLDINGS: S&P Rates Proposed Revolving Credit Facility 'B' ------------------------------------------------------------------ S&P Global Ratings assigned its 'B' issue-level rating and '3' recovery rating to Osmosis Holdings L.P.'s (dba Culligan) proposed five-year $700 million revolving credit facility (RCF) due June 2031, $4.125 billion first-lien term loan B (TLB) due June 2033, and EUR1 billion first-lien TLB due June 2033. The '3' recovery rating indicates its expectation for meaningful (50%-70%; rounded estimate: 50%) recovery in the event of a default. S&P said, "We view this transaction as leverage-neutral because the company will use the proceeds from the proposed facilities to repay and refinance its existing borrowings. We estimate Culligan's debt to EBITDA for the 12-months ended March 31, 2026, remained about 8.5x (including $1.1 billion of preferred equity), which compares with 9.3x for the same period in 2025. The company's leverage remains high due to its highly acquisitive growth strategy, though we expect it will continue to sequentially reduce its leverage below 8.0x in the coming quarters as it moderates its acquisition activity." If Culligan secures lower interest rate margins of SOFR + 250 basis points (bps) and Euribor + 300 bps for its new dollar-denominated TLB and euro-denominated TLB, respectively, this would reduce its annual interest expense by approximately $8 million, improving its cash interest coverage. S&P said, "Importantly, the company generated positive free operating cash flow (FOCF; close to $50 million) in 2025 for the first time in several years, though its FOCF was still lower than we expected due to acquisition costs. Given our forecast for fewer large transactions, lower restructuring costs, and some interest savings, we expect Culligan will increase its FOCF generation closer to $70 million in 2026." The company increased its reported revenue by 6% in 2025 (including 3% organic), supported by continued volume and market share gains in the Americas commercial drinking water market. This performance offset the weaker results in its more-cyclical conditioning (water softener) segment. S&P expects these trends will continue in 2026 as Culligan broadens its global footprint and further expands its commercial drinking water platform, both organically and through targeted bolt-on acquisitions. Issue Ratings--Recovery Analysis Key analytical factors -- Following the refinancing in June 2026, the company's debt capital structure will comprise a $700 million senior secured RCF expiring June 2031, a $4.125 billion senior secured dollar-denominated TLB maturing June 2033, and a EUR1 billion senior secured euro-denominated TLB maturing June 2033. Simulated default assumptions -- S&P's simulated default scenario considers a default occurring in 2029 stemming from heightened competitive pressures and generally weak consumer spending. These factors cause Culligan's EBITDA and cash flow to deteriorate, eventually leading to a payment default. -- S&P said, "We believe the company's creditors would receive the maximum recovery if it reorganizes rather than liquidates. This is because of Culligan's leading position in the water treatment industry for both residential and commercial customers. Therefore, in evaluating the recovery prospects for its debtholders, we assume the company continues as a going concern and arrive at our emergence enterprise value by applying a multiple to our assumed emergence EBITDA." -- Debt service: $373 million (default year interest plus amortization) -- Capital expenditure: $103 million -- Default EBITDA proxy: $475 million -- Cyclicality adjustment: $24 million (5% of default EBITDA proxy) -- Operational adjustment: $50 million (10% of emergence EBITDA) -- Emergence EBITDA: $549 million Note: S&P estimates $3.3 billion of gross emergence enterprise value, which incorporates a 6x multiple to the company's emergence EBITDA. This is in line with multiples S&P uses for its similar peers. Simplified waterfall -- Gross recovery value: $3.3 billion -- Net recovery value for waterfall (after 5% administrative expenses): $3.1 billion -- Obligor/nonobligor valuation split: 100%/0% -- Value available for first-lien claims: $3.1 billion -- Estimated first-lien claims: $5.9 billion --Recovery expectations: 50%-70% (rounded estimate: 50%) Note: All debt amounts includes six months of prepetition interest. PHAIR COMPANY: Seeks to Tap Mojdehi Galvin Rego as General Counsel ------------------------------------------------------------------ The Phair Company LLC and affiliates seek approval from the U.S. Bankruptcy Court for the Southern District of California to employ Mojdehi Galvin Rego LLP as its general counsel. The firm's services include: a. providing legal advice and services with respect to the Debtors’ powers and duties as a debtor in possession; b. preparing, on behalf of the Debtors, necessary applications, motions, answers, orders, reports, and other legal papers; appear in Court on behalf of the Debtors; c. assisting the Debtors in obtaining approval and confirmation of a disclosure statement and Chapter 11 plan; d. handling inquiries and calls from creditors and counsel to interested parties regarding pending matters and the general status of the Chapter 11 Case; and e. performing other required services in connection with the administration of the Cases. The firm will be paid at these hourly rates: Ali Mojdehi $725 Allison Rego $625 Mojdehi Galvin Rego LLP is a "disinterested person" within the meaning of 11 U.S.C. Sec. 101(14). The firm can be reached through: Ali Mojdehi, Esq. Mojdehi Galvin Rego LLP 2550 Fifth Ave, Suite 910 San Diego, CA 92103 Telephone: (619) 780-8415 Email: ali.mojdehi@mgr-legal.com About The Phair Company LLC The Phair Company LLC, a company in Chula Vista, Calif., sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Calif. Case No. 25-00667) on February 25, 2025. In its petition, the Debtor reported between $1 million and $10 million in assets and liabilities. Judge J Barrett Marum oversees the case. Vincent Renda, Esq., at Pinnacle Legal, P.C. and Grobstein Teeple, LLP serve as the Debtor's legal counsel and financial advisor, respectively. POWER REIT: Bradley & Daytona Group Reports 11.5% Stake ------------------------------------------------------- Bradley & Daytona Railway and Land Co. LLC, Alexander Kachmar, D & C Cacciapaglia Living Trust U/A DTD 02/01/2013, David Cacciapaglia Family Trust U/A DTD 11/25/2020, and David Cacciapaglia disclosed in a Schedule 13D (Amendment No. 5) filed with the U.S. Securities and Exchange Commission that as of June 15, 2026, they beneficially own the following shares of Power REIT's Series A Cumulative Redeemable Perpetual Preferred Stock Liquidation Preference $25 per Share, based on 336,944 shares of Series A Preferred Stock outstanding as of March 31, 2026, as disclosed by the Company in its Quarterly Report on Form 10-Q for the quarter ended March 31, 2026, filed with the SEC on May 15, 2026: * Bradley & Daytona Railway and Land Co. LLC -- 15,508 shares representing 4.6% of the class. * Alexander Kachmar -- 9,898 shares representing 2.9% of the class. * D & C Cacciapaglia Living Trust, U/A DTD 02/01/2013 -- 9,439 shares representing 2.8% of the class. * David Cacciapaglia Family Trust, U/A DTD 11/25/2020 -- 3,872 shares representing 1.2% of the class. * David Cacciapaglia -- 13,311 shares representing 4.0% of the class. Relating solely to the exercise of voting rights with respect to the Series A Preferred Stock and matters arising under Section 8 of the Articles Supplementary, the Reporting Persons may be deemed to beneficially own an aggregate of 38,717 shares of the Company's Series A Preferred Stock, representing approximately 11.5% of the Company's outstanding Series A Preferred Stock. Bradley & Daytona Railway and Land Co. LLC may be reached through: Alexander Kachmar Bradley & Daytona Railway and Land Co. LLC 5753 Highway 85 N PMB 5974 Crestview, FL 32536 Tel: 973-979-1329 A full-text copy of Bradley & Daytona Railway and Land Co.'s SEC report is available at https://tinyurl.com/4nda7ps6 About Power REIT Old Bethpage, N.Y.-based Power REIT is a Maryland-domiciled, internally managed real estate investment trust that owns a portfolio of real estate assets related to transportation, energy infrastructure, and controlled environment agriculture in the United States. Houston, Texas-based MaloneBailey, LLP, the Trust's auditor since 2015, issued a "going concern" qualification in its report dated March 31, 2026, attached to the Annual Report on Form 10-K for the year ended December 31, 2025, citing that the Trust has suffered recurring losses, recurring negative cash flow from operations and reduced revenues that raise substantial doubt about its ability to continue as a going concern. As of December 31, 2025, the Company had $26.9 million in total assets, $21.8 million in total liabilities, and $5.1 million in total equity. PRECIPIO INC: Three Directors Elected, CBIZ Appointment Ratified ---------------------------------------------------------------- Precipio, Inc. has announced the results of its Annual Meeting of Stockholders convened on June 15, 2026. At the Annual Meeting, the stockholders voted: Proposal One: To elect Richard Sandberg, Christina Valauri, and Jeffrey Cossman, M.D. as Class II directors for terms to expire in 2029. The results of the election were as follows: Total Shares Voted: * Votes For: 551,150 * Votes Against: 0 * Withheld: 1,058 * Broker Non-Votes: 511,085 Director Nominees: 1. Richard Sandberg * Votes For: 535,205 * Votes Against: 0 * Withheld: 17,003 2. Christina Valauri * Votes For: 544,692 * Votes Against: 0 * Withheld: 7,516 3. Jeffrey Cossman, M.D. * Votes For: 534,990 * Votes Against: 0 * Withheld: 17,218 Proposal Two: To ratify the appointment of CBIZ CPAs, P.C. as independent registered public accounting firm for the year ending December 31, 2026. Total Shares Voted: * Votes For: 1,051,812 * Votes Against: 10,583 * Abstain: 898 The number of shares of common stock entitled to vote at the Annual Meeting was 1,784,830. The number of shares of common stock present or represented by valid proxy at the Annual Meeting was 1,063,293, representing 59.57% of the total number of outstanding shares of the Company. Proposals One and Proposal Two submitted to a vote of the Company's stockholders at the Annual Meeting were approved. No other matters were submitted to or voted on by the Company's shareholders at the Annual Meeting. About Precipio Omaha, Neb.-based Precipio, Inc., formerly known as Transgenomic, Inc. -- http://www.precipiodx.com/-- is a healthcare solutions Company focused on cancer diagnostics. Its business mission is to address the pervasive problem of cancer misdiagnoses by developing solutions to mitigate the root causes of this problem in the form of diagnostic products, reagents, and services. New Haven, Conn.-based CBIZ CPAs P.C., the Company's auditor since 2016, issued a "going concern" qualification in its report dated March 30, 2026, citing that the Company has incurred significant losses and needs to raise additional funds to meet its obligations and sustain its operations. These conditions raise substantial doubt about the Company's ability to continue as a going concern. As of March 31, 2026, the Company had $20.8 million in total assets, $6.6 million in total liabilities, and $14.2 million in total stockholders' equity. PRESTIGE HEALTHCARE: Plan Exclusivity Period Extended to Sept. 28 ----------------------------------------------------------------- Judge Maria Ellena Chavez-Ruark of the U.S. Bankruptcy Court for the District of Maryland extended Prestige Healthcare Resources Inc.'s exclusive periods to file a plan of reorganization and obtain acceptance thereof to Sept. 28 and Nov. 25, 2026, respectively. As shared by Troubled Company Reporter, the Debtor claims that it is now making a monthly profit and is saving up these profits to pay i) taxes, ii) monetary cure obligations required as part of any assumption of contracts or leases, and iii) administrative claims that would be owed as of the effective date under any plan of reorganization. While the Debtor has not yet had the opportunity to begin formulating a plan of reorganization and projections, the Debtor has demonstrated reasonable prospects to fund a viable Chapter 11 plan. As such, this factor weighs in favor of extending the Exclusivity Periods. The Debtor states that its case has been pending for a mere three and a half months. Further, this is the Debtor's first request for an extension of the Exclusive Periods. From the Debtor's perspective, it has simply not been feasible to both address the challenges currently pending in this case and set forth a viable plan of reorganization. As such, this factor weighs in favor of extending the Exclusive Periods. The Debtor asserts that its request for an extension of the Exclusivity Periods is based solely upon the variety of obstacles it has faced since the Petition Date and its well-founded projection that it simply cannot formulate a plan of reorganization prior to the expiration of the Exclusivity Periods. By obtaining an extension, the Debtor wishes to utilize the additional time to communicate and negotiate with creditors and work closely with counsel to formulate a viable plan rather than using such extension to stall or frustrate creditors. As such, this factor weights in favor of the Debtor. The Debtor further asserts that there are several unresolved accounting matters that will continue to impact the formulation of a reorganization plan. The Debtor will need to wait until LPS completes its financial investigation and is able to make a determination of the amount of the Debtor's accounts receivables as of the Petition Date. In addition, the Debtor is working with its landlord, 1525 Good Hope LLC, to obtain post-petition financing to open up its new facility located at 1525 Marion Barry Avenue, Washington, DC. The opening of these new operations have been in the works for several years. Once these operations commence, the Debtor will be able to add additional funding to its plan of reorganization to pay its creditors. Prestige Healthcare Resources Inc. is represented by: Mary Fran Ebersole, Esq. Tydings & Rosenberg LLP One East Pratt Street, Suite 901 Baltimore, MA 21202 Telephone: (410) 752-9700 Email: mebersole@tydings.com About Prestige Healthcare Resources Prestige Healthcare Resources Inc., incorporated in Maryland in 2009, operates as a behavioral health core service agency providing mental health and related support services to individuals in Washington, D.C., Prince George's County, and Baltimore City, Maryland, and is recognized as a certified provider in the behavioral health sector, offering therapy, mental health rehabilitative services, substance use disorder programs, elderly and persons with physical disabilities waiver case management, non-medical respite, problem gambling assistance, and assertive community treatment team services. Prestige Healthcare Resources Inc. filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. D. Md. Case No. 26-10955) on January 29, 2026, listing $1 million to $10 million in both assets and liabilities. The petition was signed by John S. Smith, Jr. as president. Joseph Selba, at Tydings Rosenberg, LLP, serves as the Debtor's legal counsel. QUANTUM CORP: Delays Annual Report for Year Ended March 31 ---------------------------------------------------------- Quantum Corporation filed a Form 12b-25 with the U.S. Securities and Exchange Commission notifying the Commission of a delay in filing its Annual Report on Form 10-K for the fiscal year ended March 31, 2026. Quantum was unable to file its Form 10-K by the deadline without unreasonable effort or expense due to the following circumstances: In June 2026, the Company completed a series of transactions. The preparation, execution, and financial reporting for these transactions required substantial and sustained focus from the Company's senior management during the period leading up to the original filing due date. As a result, the Company is working with its independent registered public accounting firm to complete the audit of the Company's financial statements and related disclosures and requires additional time to do so. Fiscal 2026 is also the first year in which the Company's financial statements have been audited by its current independent registered public accounting firm, and the audit has involved additional first-year audit procedures. In addition, the Company became an accelerated filer beginning with the Form 10-K for Fiscal 2026 and is therefore subject to an earlier annual report filing deadline than in the prior two fiscal years. As a result of its change in filer status, the Company and its auditors are also completing additional procedures relating to management's assessment of internal control over financial reporting and the auditors' attestation report on internal control over financial reporting. These requirements apply in connection with the Company's status as an accelerated filer for Fiscal 2026 and were not applicable to the Company's Annual Reports on Form 10-K for fiscal years 2025 and 2024. The additional time afforded by the extension period will also permit the Company's auditors to complete these procedures and related reporting requirements associated with the Company's first year as an accelerated filer. The Company is working diligently with its auditors to complete the audit and related review procedures and currently expects to file its Annual Report on Form 10-K within the extension period prescribed by Rule 12b-25. The Company currently does not expect that the delay will affect the Company's previously announced preliminary unaudited financial results for its fiscal fourth quarter of Fiscal 2026, or the Company's financial statements for any prior fiscal periods. About Quantum Corporation Quantum Corporation, together with its consolidated subsidiaries, stores and manages digital video and other forms of unstructured data, providing streaming performance for video and rich media applications, along with low-cost, long-term storage systems for data protection and archiving. The Company helps customers around the world capture, create and share digital data and preserve and protect it for decades. Bellevue, Wash.-based Grant Thornton LLP, the Company's auditor since 2013, issued a "going concern" qualification in its report dated August 26, 2025, attached to the Company's Annual Report on Form 10-K for the year ended March 31, 2025, citing that the Company believes it will be in violation of the net leverage coverage covenant for the quarter ended September 30, 2025. The Company's plan contemplates the Company negotiating waivers to these covenants and is evaluating strategies to restructure or refinance the existing term debt. If the Company is unable to obtain additional waivers, the term debt will become immediately due, and additional liquidity will be required to satisfy the obligations. The Company's ability to achieve the foregoing elements of its business, which may be necessary to permit the realization of assets and satisfaction of liabilities in the ordinary course of business, is uncertain and raises substantial doubt about its ability to continue as a going concern. As of December 31, 2025, the Company had $149.3 million in total assets, $333.5 million in total liabilities, and $184.2 million in total stockholders' deficit. QVC GROUP: Committee Hires Pachulski Stang Ziehl as Counsel ----------------------------------------------------------- The official committee of unsecured creditors of QVC Group Inc. seeks approval from the U.S. Bankruptcy Court for the Southern District of Texas to hire Pachulski Stang Ziehl & Jones LLP as its counsel. The firm will render these services: a. advise the Committee with respect to its rights, duties, and powers in these Chapter 11 Cases; b. assist and advise the Committee in its consultations with the Debtors relative to the administration of these Chapter 11 Cases; c. assist the Committee in analyzing the claims of the Debtors' creditors and the Debtors' capital structure and in negotiating with holders of claims; d. assist the Committee in its investigation of the acts, conduct, assets, liabilities, and financial condition of the Debtors and of the operation of the Debtors' businesses; e. assist the Committee in its investigation of, inter alia, the liens and claims of the Debtors' lenders and the prosecution of any claims or causes of action revealed by such investigation; f. assist the Committee in its analysis of, and negotiations with, the Debtors or any third-party concerning matters related to, among other things, the assumption or rejection of leases of nonresidential real property and executory contracts, asset dispositions, financing or other transactions, and the terms of one or more plans of reorganization for the Debtors and accompanying disclosure statements and related plan documents; g. assist and advise the Committee in communicating with unsecured creditors regarding significant matters in these Chapter 11 Cases; h. represent the Committee at hearings and other proceedings; i. assist the Committee in preparing pleadings and applications as may be necessary in furtherance of the Committee's interests and objectives; j. prepare, on behalf of the Committee, any pleadings, including without limitation, motions, memoranda, complaints, adversary complaints, objections or comments in connection with any of the foregoing; and k. perform such other legal services as may be required or requested or as may otherwise be deemed in the interests of the Committee in accordance with the Committee's powers and duties as set forth in the Bankruptcy Code, Bankruptcy Rules or other applicable law. The firm's current rates are: Partners/Counsel $1,150 to $2,695 per hour Of Counsel $1,175 to $2,050 per hour Associates $725 to $1,350 per hour Paralegals $625 to $695 per hour The firm will seek reimbursement of out-of-pocket expenses. The firm provides the following responses to the questions set forth in Part D of the Appendix B Guidelines for Reviewing Applications for Compensation and Reimbursement of Expenses Filed under United States Code by Attorneys in Larger Chapter 11 Cases (the "Revised UST Guidelines"): Question: Did you agree to any variations from, or alternatives to, your standard or customary billing arrangements for this engagement? Response: No. Question: Do any of the professionals included in this engagement vary their rate based on the geographic location of the bankruptcy case? Response: No. Question: If you represented the client in the 12 months prepetition, disclose your billing rates and material financial terms for the prepetition engagement, including any adjustments during the 12 months prepetition. If your billing rates and material financial terms have changed post-petition, explain the difference and reasons for the difference. Response: PSZ&J did not represent the client in the 12 month period prepetition. Question: Has your client approved your respective budget and staffing plan, and, if so, for what budget period? Response: The firm anticipates that the Committee's professional fees will be initially governed by the Debtor in Possession Financing order and budget approved in these cases. Bradford Sandler, Esq., a partner at Pachulski Stang Ziehl & Jones LLP, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Bradford J. Sandler, Esq. Robert J. Feinstein, Esq. Pachulski Stang Ziehl & Jones LLP 1700 Broadway, 36th Floor New York, NY 10019 Telephone: (212) 561-7700 Facsimile: (212) 561-7777 Email: bsandler@pszjlaw.com rfeinstein@pszjlaw.com About QVC Group Inc. QVC Group, Inc., formerly known as Qurate Retail, Inc. -- https://www.qvcgrp.com/ -- owns interests in subsidiaries and other companies that are primarily engaged in the video and online commerce industries. Through its subsidiaries and affiliates, the company operates in North America, Europe and Asia. Its principal businesses and assets include its consolidated subsidiaries QVC, Inc., Cornerstone Brands, Inc., and other cost method investments. QVC Group and several affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 26-90447) on April 16, 2026. In its petition, the Debtor reports more than $1 billion in assets and estimated liabilities of $6.6 billion. The Hon. Bankruptcy Judge Alfredo R. Perez handles the jointly administered cases. The Debtors employed Kirkland & Ellis LLP and Kirkland & Ellis International LLP as co-counsel; Gray Reed, as co-counsel; AlixPartners, LLP, as financial advisor; Evercore Group L.L.C., as investment banker; Kroll Restructuring Administration LLC, as claims and noticing agent; and PricewaterhouseCoopers LLP, as tax advisor. Joele Frank, Wilkinson Brimmer Katcher is serving as strategic communications advisor to QVC Group and QVC, Inc. Kobre & Kim LLP, serves as legal counsel to QVC Group, Inc. under the direction of the Special Committee; Seward & Kissel LLP, as legal counsel to QRI Cornerstone, Inc. under the direction of the Special Committee; Milbank LLP, as legal counsel to Liberty Interactive LLC, under the direction of the disinterested directors, and as legal counsel to Qurate Retail Group, Inc., under the direction of the Special Committee; and Katten Muchin Rosenman LLP, as legal counsel to QVC, Inc., under the direction of the disinterested directors. The Bank of New York Mellon Trust Company, N.A., as trustee under the LINTA Notes Indenture, is represented by Reed Smith LLP, as counsel. The LINTA Noteholder Group is represented by Akin Gump Strauss Hauer & Feld LLP. The QVC Noteholder Group is represented by Davis Polk & Wardwell LLP. The RCF Lender Group, led by JPMorgan Chase Bank, N.A., as administrative agent, is represented by Simpson Thacher & Bartlett LLP. An ad hoc group of beneficial holders to QVC Group, Inc. is represented by Brown Rudnick LLP as counsel. Glenn Agre Bergman & Fuentes LLP, Cleary Gottlieb Steen & Hamilton LLP, and Kane Russell Coleman Logan PC represent certain beneficial holders of the 8.0% Series A Cumulative Redeemable Preferred Stock issued by QVC Group, Inc. RACE RANCH: Hires Summers Compton Wells as Bankruptcy Counsel ------------------------------------------------------------- Race Ranch Wear LLC seeks approval from the U.S. Bankruptcy Court for the Eastern District of Missouri to hire Summers Compton Wells LLC as its bankruptcy counsel. The firm will provide these services: (a) advise the Debtor with respect to its rights and obligations as a Debtor-in-possession and regarding other matters of bankruptcy law; (b) assist in the preparation and filing of any petitions, motions, applications, schedules, statements of financial affairs, plans of reorganization, disclosure statements, and other pleadings and documents required in this Chapter 11 case; (c) represent the Debtor at hearings, including plans of reorganization, disclosure statements, confirmation, and any adjourned hearings thereof; (d) represent the Debtor in connection with debtor-in-possession financing arrangements, if any; (e) represent the Debtor in adversary proceedings and other contested matters; and (f) counsel the Debtor on other matters arising in connection with the Debtor's reorganization proceedings and business operations. The counsel will charge these hourly rates: Principals and Of Counsel $425 to $500 Associates $325 to $375 Paralegals and Legal Assistants $200 to $250 Law Clerks $180 to $200 The firm will seek reimbursement of out-of-pocket expenses. Summers Compton Wells LLC is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code, according to court filings. The firm can be reached at: Andrew R. Magdy, Esq. SUMMERS COMPTON WELLS LLC 903 S. Lindbergh Blvd, Suite 200 St. Louis, MO 63131 Telephone: (314) 991-4999 Facsimile: (314) 991-2413 E-mail: amagdy@summerscomptonwells.com About Race Ranch Wear LLC Race Ranch Wear LLC operates an online apparel and merchandise store based in Jackson, Missouri. The company sells racing- and ranch-themed products, including hats, T-shirts, hoodies, crewnecks, decals, diecast cars, gift cards and merchandise for drivers, teams and manufacturers in late model and modified racing. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Mo. Case No. 26-10320) on May 8, 2026, with $1 million to $10 million in both assets and liabilities. Matthew E. James, member, signed the petition. Andrew R. Magdy, Esq., at Summers Compton Wells, LLC represents the Debtor as legal counsel. RELEASE WELL-BEING: Case Summary & 20 Largest Unsecured Creditors ----------------------------------------------------------------- Debtor: Release Well-Being Center, Inc. 201 Turnpike Road Westborough, MA 01581 Business Description: Release Well-Being Center operates a wellness center in Westborough, Massachusetts, offering spa, fitness, yoga, meditation, private training, wellness coaching, therapeutic massage, skin care, Reiki, and body composition analysis services. The center also hosts private events, corporate events, and workshops. Its facilities include spa rooms, yoga and fitness spaces, locker rooms, steam and salt therapy areas, a red light sauna, an outdoor mineral spa, a garden, and outdoor fitness areas. Chapter 11 Petition Date: June 18, 2026 Court: United States Bankruptcy Court District of Massachusetts Case No.: 26-40730 Debtor's Counsel: Michael B. Feinman, Esq. FEINMAN LAW OFFICE The Cambridge Trust Bank Building 69 Park Street Andover, MA 01810 Tel: 978-475-0080 Fax: 978-475-0852 E-mail: mbf@feinmanlaw.com Total Assets: $2,536,000 Total Liabilities: $6,821,535 The petition was signed by Linda Townsend as president. A full-text copy of the petition, which includes a list of the Debtor's 20 largest unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/T255FBQ/Release_Well-Being_Center_Inc__mabke-26-40730__0001.0.pdf?mcid=tGE4TAMA ROGUEFOX ENTERTAINMENT: Gets Final OK to Use Cash Collateral ------------------------------------------------------------ RogueFox Entertainment, LLC received final approval from the U.S. Bankruptcy Court for the Southern District of California to use cash collateral to fund operations. Under the final order, the Debtor is authorized to use cash collateral in accordance with its approved operating budget. Monthly expenditures must not exceed 105% of the total budgeted amounts unless additional spending is authorized in writing by the affected secured creditors. The 13-week budget projects total operational expenses of $192,209. As adequate protection, secured creditors holding liens on the Debtor's cash collateral as of the petition date were granted valid, perfected, and continuing replacement liens on post-petition cash collateral. The final order does not determine the validity, amount, extent, or priority of any creditor's lien claims, and all parties retain their rights to challenge such claims. It also preserves secured creditors' rights to seek additional relief, including termination of the Debtor's authority to use cash collateral if circumstances warrant. The order is available at https://is.gd/mmJpqj from PacerMonitor.com. As of the petition date, RogueFox's cash collateral was limited to $5,165, consisting of $600 in cash registers, $89 in a bank account, and approximately $4,476 in inventory. Other assets such as furniture, fixtures, equipment, a liquor license, a lease deposit, and a contingent class action claim do not constitute cash collateral. Several secured creditors assert liens on the Debtor's assets, including the SBA with a $500,000 senior secured claim and merchant cash advance lenders Smart Business ($106,000), American Funding Group ($36,000), and United First ($30,000). Given that the Debtor's cash collateral totaled only $5,164.56 on the petition date, the SBA appears to be the only creditor with a current interest in that collateral, leaving no value available for junior lienholders. About RogueFox Entertainment LLC RogueFox Entertainment, LLC operates a combined bar and arcade in North Hollywood, California. RogueFox Entertainment sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Cal. Case No. 26-02058) on May 12, 2026, with between $100,001 and $500,000 in both assets and liabilities. Judge J. Barrett Marum oversees the case. Kit James Gardner, Esq., at the Law Offices of Kit J. Gardner, represents the Debtor as bankruptcy counsel. ROSE WAY II: Voluntary Chapter 11 Case Summary ---------------------------------------------- Debtor: Rose Way II LLC 114 Rose Way Bridgehampton, NY 11932 Business Description: Rose Way II LLC is a single-asset real estate entity that owns a luxury residential property at 114 Rose Way in Bridgehampton, New York. The company developed and completed construction of the Rose Way Home, a Hamptons property located near the beach with approximately 16,770 square feet of living space and seven to eight bedrooms. Chapter 11 Petition Date: June 18, 2026 Court: United States Bankruptcy Court Eastern District of New York Case No.: 26-72485 Judge: Hon. Sheryl P Giugliano Debtor's Counsel: Kevin Nash, Esq. GOLDBERG WEPRIN FINKEL GOLDSTEIN LLP 125 Park Ave New York, NY 10017-5690 E-mail: knash@gwfglaw.com Estimated Assets: $10 million to $50 million Estimated Liabilities: $10 million to $50 million The petition was signed by Graham Singer as authorized signatory. The Debtor did not submit a list of its 20 largest unsecured creditors along with the petition. A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/XBGBAZQ/Rose_Way_II_LLC__nyebke-26-72485__0001.0.pdf?mcid=tGE4TAMA RTB DIGITAL: CEO Discloses Stake, Options Assumed in Merger ----------------------------------------------------------- James Charles Heckman Jr., a Director and Chief Executive Officer of RTB Digital, Inc. (formerly RYVYL Inc.), disclosed in a Form 3 filed with the U.S. Securities and Exchange Commission that as of May 21, 2026, he beneficially owns, indirectly through Heckman Media, LLC -- of which he is the controlling member -- 259,933 shares of Common Stock (par value $0.001). In derivative securities, he holds, indirectly through Heckman Media, LLC, stock options to purchase 375,046 shares of Common Stock (par value $0.001) at an exercise price of $0.94 per share, exercisable from May 15, 2027 through May 15, 2034 -- originally granted by RTB Digital, Inc. on May 15, 2024 and assumed by the Company in connection with a business combination, continuing to vest in accordance with its original vesting schedule subject to the Mr. Heckman's continued service with the Company -- as well as stock options to purchase 240,305 shares of Common Stock (par value $0.001) at an exercise price of $1.89 per share, exercisable from August 12, 2028 through August 12, 2035 -- originally granted by RTB Digital, Inc. on August 12, 2025 and likewise assumed by the Company in the same business combination, also continuing to vest in accordance with its original vesting schedule subject to the Mr. Heckman's continued service with the Company. In both cases, following the transaction, the options became exercisable for shares of the Company's common stock on substantially the same terms as in effect immediately prior to the transaction, with appropriate adjustments to the number of underlying shares and exercise price. A full text copy of Mr. Heckman's SEC report is available at https://tinyurl.com/2jjmrttz About RTB Digital, Inc. Roundtable (RTB Digital, Inc.) is a Web3, digital media SaaS platform company, providing white-label, full stack distribution, community, publishing and monetization for professional media brands and journalists - fortified and powered by a digital liquidity pool integrated into the platform. Rowland Heights, CA-based Simon & Edward, LLP, RYVYL's auditor since 2022, 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 from operations and has experienced significant liquidity constraints following the discontinuation of its QuickCard operations and the sale of its European subsidiary, Ryvyl EU. These factors, alongside expectations of continued operating losses, raise substantial doubt about the Company's ability to continue as a going concern. As of March 31, 2026, the Company had $9.9 million in total assets, $10.9 million in total liabilities, and $972 thousand in total stockholders' deficit. RTB DIGITAL: Director James Comer Reports 3.78M Share Stake ----------------------------------------------------------- James Lamar Walton Comer, a Director of RTB Digital, Inc. (formerly RYVYL Inc.), disclosed in a Form 3 filed with the U.S. Securities and Exchange Commission that as of May 21, 2026, he beneficially owns, indirectly, 53,048 shares of Common Stock (par value $0.001) through Media Innovation Fund I LLC, of which he is the controlling member; 3,494,888 shares of Common Stock (par value $0.001) through Comer Trading, LLC, of which he is also the controlling member; and an additional 233,049 shares of Common Stock (par value $0.001) also through Comer Trading, LLC. In derivative securities, he holds, indirectly through Comer Trading, LLC, stock options to purchase 72,941 shares of Common Stock (par value $0.001) at an exercise price of $1.89 per share, exercisable from August 12, 2028 through August 12, 2035 -- originally granted by RTB Digital, Inc. on August 12, 2025 and assumed by the Company in connection with a business combination -- as well as a warrant to purchase 698,978 shares of Common Stock (par value $0.001) at an exercise price of $4.29 per share, exercisable immediately and expiring September 4, 2026 -- originally issued by RTB Digital, Inc. on September 4, 2025 and likewise assumed by the Company in the same business combination. Mr. Comer disclaims beneficial ownership of all securities reported herein except to the extent of his pecuniary interest therein. A full text copy of Mr. Comer's SEC report is available at https://tinyurl.com/mr3ck62p About RTB Digital, Inc. Roundtable (RTB Digital, Inc.) is a Web3, digital media SaaS platform company, providing white-label, full stack distribution, community, publishing and monetization for professional media brands and journalists - fortified and powered by a digital liquidity pool integrated into the platform. Rowland Heights, CA-based Simon & Edward, LLP, RYVYL's auditor since 2022, 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 from operations and has experienced significant liquidity constraints following the discontinuation of its QuickCard operations and the sale of its European subsidiary, Ryvyl EU. These factors, alongside expectations of continued operating losses, raise substantial doubt about the Company's ability to continue as a going concern. As of March 31, 2026, the Company had $9.9 million in total assets, $10.9 million in total liabilities, and $972 thousand in total stockholders' deficit. SHOESTORE432 LLC: Seeks Chapter 7 Bankruptcy in Texas ----------------------------------------------------- On June 17, 2026, Shoestore432 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 approximately 1–49 creditors. A meeting of creditors under Section 341(a) to be held on 7/14/2026 at 03:00 PM at Zoom - Satija: Meeting ID 357 925 8317, Passcode 9045283217, OR call 737-279-4747. About Shoestore432 LLC Shoestore432 LLC is a retail company engaged in the sale of footwear and related apparel products through physical stores, online channels, or both. Shoestore432 LLC sought relief under Chapter 7 of the U.S. Bankruptcy Code (Bankr. Case No. 26-70147) on June 17, 2026. In its petition, the Debtor reported estimated assets of $0–$100,000 and estimated liabilities of $100,001–$1,000,000. Honorable Bankruptcy Judge Shad M. Robinson handles the case. The Debtor is represented by Cheryl S. Davis, Esq. of The Law Offices of Cheryl S. Davis, P.C. Ron Satija serves as Interim Trustee. SIFI NETWORKS: Hires Stretto Inc. as Claims and Noticing Agent -------------------------------------------------------------- SiFi Networks America LLC seeks approval from the U.S. Bankruptcy Court for the District of Delaware to hire Stretto, Inc. as claims, balloting and noticing agent. Stretto will oversee the distribution of notices and will assist in the maintenance, processing, and docketing of proofs of claim filed in the Chapter 11 cases of the Debtors. Prior to the petition date, the Debtors provided Stretto an advance in the amount of $7,500. Sheryl Betance, a senior managing director at Stretto, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Sheryl Betance Stretto, Inc. 410 Exchange Irvine, CA 92602 Telephone: (800) 634-7734 About SiFi Networks SiFi Networks America LLC is a Wilmington, Delaware-based telecommunications infrastructure project management and deployment services provider. The company supports fiber-to-the-premises network projects through deployment planning, permitting coordination, vendor and subcontractor management, construction management, program management, delivery coordination, stakeholder reporting, and compliance support. SiFi Networks sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Lead Case No. 26-10912) on June 5, 2026. The petition was signed by Jacen Dinoff as chief restructuring officer. In the petition, the Debtor reported estimated total assets of $1 million to $10 million and estimated liabilities of $10 million to $50 million. The Hon. Brendan Linehan Shannon presides over the Debtor's case. Cole Schotz P.C. represents the Debtor as its bankruptcy counsel. KCP Advisor Group LLC serves as the Debtor's restructuring advisor, Sherwood Partners Inc. acts as the Debtor's sales agent, and Stretto Inc. serves as the Debtor's claims and noticing agent. SIGNITIVES TECHNOLOGIES: Hires Sullivan Law as Litigation Counsel ----------------------------------------------------------------- Signitives Technologies, LLC seeks approval from the U.S. Bankruptcy Court for the Northern District of Texas to employ Sullivan Law Offices as special litigation counsel. The firm will provide legal representation to the Debtor with respect to the Tachyon Suit and Maxotech Suit, styled styled Tachyon Technologies, LLC v. Swamijee Kakarla and Signitives Technologies, LLC, et al, and Maxotech Solutions, LLC and Swamijee Kakarala and Ravi Daparthi, Derivatively on Behalf of Maxotech Solutions, LLC, v. ITCOMMENCE, INC., et al. The firm will be paid at these rates: Hunter Cox, Attorney $350 per hour Brandon Schuelke, Attorney $350 per hour James Barnett $175 per hour Legal Assistant/Law Clerk $125 per hour In addition, Sullivan Law will seek reimbursement of any expenses which have to be advanced on behalf of the Debtor. Sullivan Law was holding a $5,477.29 retainer fee on the Petition Date. Sullivan Law Offices disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Hunter Cox, Esq. Sullivan Law Offices 500 E State Highway 114, Suite 100 Southlake, TX 76092 Phone: (469) 702-0099 About Signitives Technologies, LLC Signitives Technologies, LLC operates as a Texas-based technology and digital services company focused on software and business technology solutions. Signitives Technologies, LLC sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-42224) on May 21, 2026. The filing lists estimated assets ranging from $100,001 to $1 million and estimated liabilities ranging from $100,001 to $1 million. Honorable Bankruptcy Judge Edward L. Morris presides over the bankruptcy proceedings. The Debtor is represented by Joseph F. Postnikoff, Esq. of Rochelle McCullough, LLP. Frances A. Smith serves as Subchapter V Trustee. SOUTHERN POINTE: Voluntary Chapter 11 Case Summary -------------------------------------------------- Debtor: Southern Pointe Land, LLC 8559 Gulf Hwy. Lake Charles, LA 70607 Business Description: Southern Pointe Land is a privately held real estate company that owns and leases property. Chapter 11 Petition Date: June 18, 2026 Court: United States Bankruptcy Court Western District of Louisiana Case No.: 26-20306 Judge: Hon. John W Kolwe Debtor's Counsel: Barbara B. Parsons, Esq. THE STEFFES FIRM, LLC 13702 Coursey Blvd. Building 3 Baton Rouge, LA 70817 Tel: 225-751-1751 Email: bparsons@steffeslaw.com Estimated Assets: $10 million to $50 million Estimated Liabilities: $10 million to $50 million The petition was signed by William Rodwell as manager. The Debtor failed to include a list of its 20 largest unsecured creditors in the petition. A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/VTPAQ4A/Southern_Pointe_Land_LLC__lawbke-26-20306__0001.0.pdf?mcid=tGE4TAMA STANDARD FORWARDING: Hires Jones & Walden LLC as Legal Counsel -------------------------------------------------------------- Standard Forwarding Freight, LLC seeks approval from the U.S. Bankruptcy Court for the Northern District of Georgia to hire Jones & Walden LLC to serve as its legal counsel. The firm will provide these services: (a) preparing pleadings and applications on behalf of the Debtor and Debtor-in-Possession; (b) conducting examinations in connection with the Chapter 11 case; (c) advising the Debtor regarding its rights, duties, and obligations as a debtor-in-possession; (d) consulting with and represent the Debtor with respect to a Chapter 11 plan; (e) performing legal services necessary to the day-to-day operations of the Debtor's business, including institution and prosecution of legal proceedings and providing general legal advice and assistance; and (f) taking any and all actions necessary for the preservation and administration of the Debtor's estate and business. Jones & Walden LLC will be compensated at hourly rates ranging from $225 to $500 for attorneys and $150 to $250 for paralegals and law clerks, plus reimbursement of reasonable expenses, subject to Court approval. The firm also holds a $69,495 retainer. According to court filings, Jones & Walden LLC is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code and does not hold an adverse interest to the Debtor or its estate. The firm can be reached at: Leslie M. Pineyro, Esq. JONES & WALDEN LLC 699 Piedmont Avenue, NE Atlanta, GA 30308 Telephone: (404) 564-9300 E-mail: lpineyro@joneswalden.com About Standard Forwarding Freight, LLC On May 7, 2026, Central States Pension Funds, Central States Health Fund, and Wisconsin Health Fund (Petitioning Creditors) filed an involuntary petition for relief under Chapter 7 of Title 11 of the United States Code, 11 U.S.C. Secs. 101 et seq. against Debtor (Bankr. N.D. Ga. Case No. 26-56193). On May 29, 2026, Debtor filed a Motion for Entry of an Order Converting the Involuntary Case to Chapter 11 Pursuant to 11 U.S.C. Sec. 706(a) (Doc. No. 5). On June 2, 2026, the Court entered an Order for Relief on Involuntary Petition and Order Converting Involuntary Case to Chapter 11 Pursuant to 11 U.S.C. Sec. 706(a). Judge James R Sacca presides over the case. Graham H. Stieglitz, Esq. at Burr & Forman LLP represents the petitioning creditors. STEPADDY1959 LLC: Gets Interim OK to Use Cash Collateral -------------------------------------------------------- Stepaddy1959, LLC received interim approval from the U.S. Bankruptcy Court for the Middle District of Florida to use cash collateral through July 7. The order authorized the Debtor to use cash collateral for court-approved expenses, quarterly U.S. Trustee fees, and operating expenses contained in the approved budget, with flexibility of up to 10% for each budget line item. Additional expenditures may be made with written approval from secured creditors First Data Merchant Services and Kalamata Capital Group, which cannot be unreasonably withheld. The Debtor projects total monthly operational expenses of $29,522. As adequate protection, secured creditors were granted perfected post-petition replacement liens on cash collateral, maintaining the same validity, extent, and priority as their prepetition liens without requiring additional filings. The Debtor must also maintain insurance coverage consistent with its obligations under the applicable loan and security agreements. The order preserves the rights of all parties, including the Debtor, secured creditors, the U.S. Trustee, and any future creditors' committee, to challenge lien validity, priority, or adequate protection issues. A continued preliminary hearing is scheduled for July 7. About Stepaddy1959 LLC Stepaddy1959, LLC, sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 26-04009) on May 29, 2026, with up to $50,000 in assets and $100,001 to $500,000 in liabilities. Judge Lori V. Vaughan presides over the case. Jeffrey Ainsworth, Esq. at Bransonlaw PLLC represents the Debtor as legal counsel. SUPERPSYCHED LLC: Unsecureds to Get Share of Income for 48 Months ----------------------------------------------------------------- Superpsyched LLC filed with the U.S. Bankruptcy Court for the Northern District of Indiana a Plan of Reorganization dated June 11, 2026. The Debtor, managed by Charmanika Mosley, originally organized her business as C.K. Mosley, LLC on March 6, 2018. The business initially began by providing counseling and mental health services to individuals and families in the community. Prior to filing bankruptcy relief, the Debtor was forced to obtain multiple online business loans at high interest rates, in addition to an earlier U.S. Small Business Administration loan, in order to continue operations. Traditional financing was not available in sufficient amounts, and because payroll and contractor obligations were immediate, the Debtor turned to Merchant Cash Advance financing as a short-term bridge. Since March 16, 2026, the Debtor has continued operating as a Debtor-in-Possession pursuant to the applicable provisions of the Bankruptcy Code. The Debtor's intention is to reorganize through the continued use of income generated from ongoing business operations. Based upon present revenues and stabilized operations, the Debtor believes its cash flow is sufficient to fund payments to creditors pursuant to the terms of this Plan. The Debtor's reorganization strategy is centered on utilizing the Subchapter V process to right-size its balance sheet and restore long-term operational stability. By restructuring burdensome Merchant Cash Advance obligations and other legacy debt, the Debtor can redirect current and consistent revenues towards rebuilding its independent contractor network, strengthening service capacity, and expanding its high-impact clinical programs. Class 6 consists of Unsecured Claims. The Allowed Claims of this Class shall be paid from the Net Projected Disposable Income of the Debtor following payment to the Classes as provided for in the Plan. The payments to this Class shall be made by the Debtor in 8 equal semi annual payments, commencing January 1, 2026, and every six months thereafter for 48 months. The payments shall be made pro-rata to all Class 6 allowed creditors. All Class 6 claims shall be paid as general unsecured claims, without interest. The allowed unsecured claims total $78,693.22. Class 7 consists of Equity Security Holders. The Allowed Claims of this Class shall retain their interest in the reorganized Debtor. This Plan of Reorganization proposes to pay creditors of the Debtor from its disposable income. A full-text copy of the Plan of Reorganization dated June 11, 2026 is available at https://urlcurt.com/u?l=jgKHhc from PacerMonitor.com at no charge. Counsel to the Debtor: Shiela A. Ramacci, Esq. Daniel L. Freeland & Associates, PC 9105 Indianapolis Bvd. Highland, IN 46322 Telephone: (219) 922-0800 Email: sar4198@aol.com About Superpsyched LLC Superpsyched LLC provides counseling and mental health services. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ind. Case No. 26-20500) on March 16, 2026, with $50,001 to $100,000 in assets and $500,001 to $1 million in liabilities. Judge James R. Ahler presides over the case. The Debtor tapped Sheila Ramacci, Esq., at Daniel L. Freeland & Associates, PC as counsel and MidCoast Tax Advisors, LLC as accountant. TAWR PROPERTY: Claims to be Paid from Property Sale Proceeds ------------------------------------------------------------ Tawr Property Owner, Ltd. and affiliates filed with the U.S. Bankruptcy Court for the Northern District of Texas a Disclosure Statement in support of the Joint Plan of Reorganization dated June 12, 2026. The Debtors are affiliated in various ways through Darren B. Casey and entities that he owns or controls. Mr. Casey is a longtime and well-established real estate developer in the San Antonio, Texas, region, having been developing residential and commercial real estate for decades. Debtor TAWR Property Owner, Ltd. is a company duly organized and validly existing under the laws of the State of Texas that operates a 285,000 sq. ft. luxury multifamily apartment community at 4401 E. Pflugerville Parkway, Pflugerville, Texas 78660 known as "Tacara at Weiss Ranch." The project was completed in May 2025 and stabilized in August 2025 with 92%-95% occupancy since that time. The Weiss Ranch Debtors filed the Bankruptcy Case in order to preserve and maximize the value of their assets, including the Property, provide a centralized forum for resolving claims and disputes, including disputes relating to the asserted M&M lien claims, and implement the restructuring transactions contemplated by the Plan. The Weiss Ranch Debtors believe that the chapter 11 process and the Plan provide the best available mechanism to address their liabilities, maximize stakeholder recoveries, and facilitate an orderly resolution of claims. After the Petition Date and during the Bankruptcy Case, the Weiss Ranch Debtors obtained a professional valuation of the Property from Stout (also the Weiss Ranch Debtors' court-approved financial advisor and Chief Restructuring Officer). Further, the Weiss Ranch Debtors engaged Berkadia Real Estate Advisors, LLC, to conduct a marketing and sale campaign for the Property. Based on consultations with Stout, Berkadia, and the Debtors' professionals, at present, the fair market value of the Property is approximately $58,500,000.00. The Weiss Ranch Debtors believe that this value will only increase going forward, as the Property maintains stabilization (90% occupancy), as commercial retail construction and development is completed, and as the Austin market continues to improve. The Plan proposes that the Weiss Ranch Debtors' main asset, Tacara at Weiss Ranch located at 4401 E. Pflugerville Pkwy., Pflugerville, Texas 78660—be sold through a marketing and sale process conducted by Berkadia, the proposed broker. The Plan proposes that Berkadia would market and seek solicitations for the purchase of the Property to be consummated by no later than November 1, 2026, subject to extension by agreement with Fifth Third Bank. Class 5 consists of the Unsecured Claims. Unless expressly Allowed elsewhere in this Plan, each Unsecured Claim shall remain subject to Allowance as is otherwise appropriate under the Bankruptcy Code, this Plan, and governing law. The Weiss Ranch Debtors reserve the right to object to any Unsecured Claim, which right is vested in the Reorganized Debtors. Class 5 is impaired under the Plan. Except to the extent that a holder of an Allowed Unsecured Claim agrees to less favorable treatment, in full and final satisfaction, release, and discharge of each Allowed Unsecured Claim, the Reorganized Debtors shall pay each Allowed Unsecured Claim, without interest and without attorney's fees or expenses, solely from (i) unencumbered assets that do not constitute collateral of Fifth Third, and (ii) Sale Proceeds remaining after indefeasible payment in full in cash of the Allowed Fifth Third Secured Claim and satisfaction in full of all senior claims and liens, either at the closing of the Sale or from the Disputed Claims Reserve, if applicable, as provided for in section 5.5(i) and 5.5(ii) of the Plan, up to the Allowed amount thereof or so much of it as remains available from the Sale Proceeds or from other available cash. Class 6 consists of all Equity Interests in the Weiss Ranch Debtors. All Equity Interests are preserved and shall be reinstated by the respective holder(s) thereof under the Plan. The Plan contemplates a sale of the Property as the primary means of implementation. All real property, improvements, fixtures, personal property, and tenant leases will be sold, excluding causes of action and cash. The Sale must close by November 1, 2026, subject to extension for up to an additional 30 days if certain conditions are satisfied or waived by Fifth Third, including the existence of an executed purchase contract acceptable to Fifth Third. The real estate broker is Berkadia. A Plan Agent, to be identified in a Plan Supplement and consented to by Fifth Third, will have sole authority over the Sale process, including negotiating and entering into purchase agreements, determining the final sales price, executing closing documents, and distributing Sale Proceeds. The Reorganized Debtors and the Preferred Equity each have a right of first refusal, subordinate and subject to Fifth Third's rights as a secured lender. Fifth Third retains all credit bid rights under section 363(k) of the Bankruptcy Code. The Plan also permits a refinancing of the Property in lieu of the Sale, provided it is consummated by the Outside Closing Date and indefeasibly satisfies the Allowed Fifth Third Secured Claim in full in cash. A full-text copy of the Disclosure Statement dated June 12, 2026 is available at https://urlcurt.com/u?l=jvIjnk from PacerMonitor.com at no charge. Counsel to the Debtors: Davor Rukavina, Esq. Garrick C. Smith, Esq. Jonathan S. Petree, Esq. MUNSCH HARDT KOPF & HARR, P.C. 500 N. Akard Street, Suite 4000 Dallas, TX 75201-6659 Telephone: (214) 855-7500 E-mail: drukavina@munsch.com gsmith@munsch.com jpetree@munsch.com About TAWR Property Owner, Ltd. TAWR Property Owner, Ltd and affiliates are real estate entities involved in the ownership, investment, and management of multifamily residential developments in Texas, including Tacara-branded apartment projects in the San Antonio and Pflugerville areas. The entities operate as property owners, general partners, holding companies, and investment partnerships structured to develop, own, and manage residential real estate assets. The Debtors sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Texas Lead Case No. 26-90162) on February 3, 2026. In the petition signed by Darren B. Casey, as authorized representative, TAWR Property Owner reported assets of between $50 million and $100 million and liabilities of between $10 million and $50 million. Judge Edward L. Morris oversees the cases. The Debtors tapped Davor Rukavina, Esq., at Munsch Hardt Kopf & Harr, P.C. as general bankruptcy counsel. TONIX PHARMACEUTICALS: Millennium Management Holds 5.6% Stake ------------------------------------------------------------- Millennium Management LLC, Millennium Group Management LLC, and Israel A. Englander disclosed in a Schedule 13G filed with the U.S. Securities and Exchange Commission that as of June 9, 2026, they each beneficially own 890,366 shares of Tonix Pharmaceuticals Holding Corp.'s Common Stock, par value $0.001 per share, each representing 5.6% of the outstanding shares. Millennium Management LLC may be reached through: Gil Raviv, Global General Counsel Millennium Management LLC 399 Park Avenue New York, New York 10022 Tel: (212) 841-4100 A full-text copy of Millennium Management LLC's SEC report is available at https://tinyurl.com/6mewnxss About Tonix Pharmaceuticals Chatham, N.J.-based Tonix Pharmaceuticals Holding Corp., through its wholly owned subsidiary Tonix Pharmaceuticals, Inc., is a fully integrated biopharmaceutical company focused on developing and commercializing therapeutics to treat and prevent human disease and alleviate suffering. EisnerAmper LLP, the Company's former independent registered public accounting firm, included an explanatory paragraph in its audit report dated March 12, 2026, attached to the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2025, expressing substantial doubt about the Company's ability to continue as a going concern. The auditor cited that the Company has continuing losses and negative cash flows from operating activities that raise substantial doubt about its ability to continue as a going concern. As of March 31, 2026, the Company had $257.9 million in total assets, $30.8 million in total liabilities, and $227.1 million in total stockholders' equity. TOYIN STREET: Seeks to Hire Coldwell Banker as Real Estate Broker ----------------------------------------------------------------- Toyin Street Properties, LLC filed an amended application seeking approval from the U.S. Bankruptcy Court for the Southern District of Texas to employ Coldwell Banker Commercial Realty d/b/a Rockwell Commercial Group as real estate brokers. The Debtor needs the Broker to list and market its real estate. The firm will receive a commission equal to 6% of the selling price. As disclosed in the court filings, Coldwell Banker Commercial Realty has no interest adverse to the estate and is a disinterested person. The firm can be reached through: Quenton Rockwell Coldwell Banker Commercial Realty d/b/a Rockwell Commercial Group 25250 Northwest Freeway, Suite 200 Cypress, TX 77429 Telephone: (832) 877-2703 Email: qrock@rockwellcommercialgroup.com About Toyin Street Properties LLC Toyin Street Properties, LLC holds full ownership of a commercial asset located at 11066 Highway 242 in Conroe, Texas 77385, which carries an appraised valuation of approximately $3.05 million. The company sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 26-32419) on April 7, 2026. In its petition, the Debtor reports estimated assets of $3,050,000 and estimated liabilities of $2,430,900. Honorable Bankruptcy Judge Eduardo V. Rodriguez handles the case. Aaron W. McCardell, Sr., Esq. at The Mccardell Law Firm, PLLC, represents the Debtor as legal counsel. TRAVEL CORP: Moody's Lowers CFR to B2, Outlook Stable ----------------------------------------------------- Moody's Ratings has downgraded The Travel Corporation Group Limited's (TTC or the company) corporate family rating to B2 from B1. Moody's also downgraded the company's probability of default rating to B2-PD from B1-PD and its senior secured first-lien revolving credit facility borrowed by TTC to B2 from B1. Additionally, Moody's downgraded the senior secured first lien term loan borrowed by Horizon US FinCo, L.P to B2 from B1. The outlook on both entities remains stable. "The downgrade principally reflects Moody's expectations of a deterioration in the group's key credit ratios including cash flow and leverage over the next 12-18 months. Weaker booking momentum and higher cancellation risk following the Middle East conflict compound elevated growth capex for the group's river cruise expansion, large transformation-related cash costs and recent shareholder distributions" said Frederic Duranson, a Moody's Ratings Vice President – Senior Analyst and lead analyst on TTC. RATINGS RATIONALE Moody's expects TTC's cash flows in particular to deteriorate materially in 2026 on the back of an expected weaker bookings performance, committed outflows for expansion capex, cost-saving initiatives and $89 million distributions to shareholders in February 2026. Moody's forecasts that Moody's-adjusted free cash flow (FCF, after interest and dividends) will be negative by around $220 million this year (around $140 million before dividends) and $40 million next year. Moody's central macro scenario assumes a prolonged and significant disruption to the Strait of Hormuz through autumn 2026, with persistently higher energy prices leading to increases in inflation, thereby limiting household purchasing power. While many of TTC's target customers are affluent and relatively more immune to inflationary pressures, the significant increase in air fares and the very volatile geopolitical environment will inevitably lead to slowing bookings momentum. Moody's also expects that cancellations will be up year-on-year such that TTC's revenue will decline by a low single-digit percentage in 2026. Moody's expects TTC to benefit from its low operating leverage and to execute fixed cost savings, however, Moody's still forecast that Moody's-adjusted EBITDA will reduce by around $60 million in 2026 to around $130 million. Cash flow has also weakened as the company has stepped up investments in new ships as well as its cost transformation. These initiatives will benefit earnings and cash flow over time but their net impact will be negative through at least 2027. Moody's estimates that the company's new ship capex over 2026-2028 will be in the region of $340 million, although a portion remains uncommitted. Moody's also expects that Moody's-adjusted leverage will increase toward 6.0x in 2026 on the back of lower earnings and weaker cash generation. Moody's expects the company will rely more heavily on external funding to finance its expansion and transformation initiatives, while the earnings recovery will remain exposed to consumer confidence linked to geopolitical developments, travel guidelines and air fares. Moody's base case incorporates a bounce back in revenue of over 10% in 2027, with the EBITDA margin recovering to around its 2025 level. This scenario is reliant upon TTC's booking and cancellation patterns normalising before the end of 2026, in line with Moody's central macro scenario. TTC customers typically book their holidays for the following Summer season between November and April. Moody's leverage analysis focuses on a gross measure, taking into account (i) the recent cash-funded dividend to shareholders, (ii) the sizeable cash needs of the business given its pronounced seasonality and (iii) Moody's expectations of negative FCF for the next 18 months, which Moody's expects will increase the debt quantum. On the positive side, the B2 CFR will continue to reflect TTC's diverse and established brands, with solid source markets and low breakeven points across both its touring and river cruise offerings. LIQUIDITY TTC's liquidity is weakening but remains adequate in Moody's views. The company had $206 million of unrestricted cash at the end of March 2026 and access to an undrawn revolving credit facility (RCF) of $225 million. Moody's estimates that these available and committed sources are sufficient to cover the company's liquidity needs for the next 12-18 months. However, Moody's also estimates that the seasonal high cash point in 2026 could be up to $200 million lower than last year, reflecting large cash outflows and lower or delayed cash receipts from customers. Moody's understands that management is exploring ship financing options which could fund 75%-85% of the value of financed ships upon delivery. The availability, timing and terms of such financing will be important determinants of liquidity and leverage outcomes over the next 18-24 months. OUTLOOK The stable outlook reflects Moody's expectations of a pronounced recovery in credit metrics from 2027, underpinned by Moody's macro assumption that disruptions related to the Middle East conflict will last through the Autumn of 2026, leaving the 2027 season for TTC largely undisrupted. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS The ratings could be upgraded if the company: -- demonstrates a track record of generating positive FCF or positive FCF before expansion capex if Moody's deems there is excess liquidity, and -- Moody's-adjusted debt/EBITDA reduces sustainably below 4.5x, and -- Moody's-adjusted EBITA/Interest expense is maintained well above 2.0x, and -- does not distribute dividends to shareholders. The ratings could be downgraded if: -- the company experiences a prolonged weakening of bookings beyond autumn 2026 -- while maintaining elevated expansion capex and transformation costs, leading to limited improvements in cash flow generation and a further decline in liquidity, or -- Moody's-adjusted debt/EBITDA will be sustainably above 5.5x, or -- Moody's-adjusted EBITA/Interest expense reduces sustainably below 1.5x. PRINCIPAL METHODOLOGY 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. COMPANY PROFILE The Travel Corporation Group Limited is a travel operator offering escorted tours and river cruises primarily for US and Oceanian customers with a focus on European destinations. In 2025, TTC generated revenue of around $1.4 billion and EBITDA before exceptional items of over $199 million. TTC has been owned by funds affiliated with Apollo Global Management, Inc. (A2, stable) since 2024. TUTOR PERINI: S&P Rates New $400MM Senior Unsecured Notes 'BB-' --------------------------------------------------------------- S&P Global Ratings assigned its 'BB-' issue-level rating and '3' recovery rating to U.S.-based engineering and construction (E&C) services provider Tutor Perini Corp.'s proposed $400 million senior unsecured notes. The '3' recovery rating indicates S&P's expectation for meaningful (50%-70%; rounded estimate: 60%) recovery in the event of a default. As part of the proposed transaction, Tutor Perini is upsizing its revolving credit facility to $350 million from $170 million. In addition, S&P expects it will materially reduce the interest margin on its senior unsecured notes and revolver. The interest margin reduction will provide the company with cash interest savings over the next few years and somewhat improve its liquidity. S&P views the transaction as leverage neutral, therefore its 'BB-' issuer credit rating and stable outlook on Tutor Perini are unchanged. Issue Ratings--Recovery Analysis Key analytical factors -- S&P said, "We rate the proposed senior unsecured notes 'BB-' with a '3' recovery rating, indicating our expectation for meaningful (50%-70%; rounded estimate: 60%) recovery in the event of payment default. We revised our rounded recovery estimate for Tutor Perini's unsecured notes to 60% from 65% previously." -- S&P does not rate the company's $350 million cash flow revolver. -- S&P's simulated default scenario assumes a payment default following a significant decline in construction activity in the U.S., heightened competitive pressures on government contracts, as well as cost overruns on the company's fixed-price contracts that significantly reduce its revenue and cash flow. -- S&P values Tutor Perini on a going-concern basis using a 5x multiple of its projected emergence EBITDA, which is in line with the multiples S&P uses for its peers in the E&C industry. -- S&P assumes 85% of the revolver is drawn in a default scenario, which is consistent with our assumptions for other corporate issuers. Simulated default assumptions -- Simulated year of default: 2030 -- EBITDA at emergence: $124 million -- Enterprise value multiple: 5x Simplified waterfall -- Net enterprise value at emergence (after 5% administrative costs): $590 million -- Valuation split (obligors/nonobligors): 90%/10% -- Priority claims: $13 million -- Collateral value available to senior creditors after priority claims: $557 million -- Secured first-lien debt claims: $309 million -- Total value available to unsecured claims: $248 million -- Unsecured debt claims: $417 million --Recovery expectations: 50%-70% (rounded estimate: 60%) Note: All debt amounts include six months of prepetition interest. S&P notes its unsecured debt ratings are capped at the same level as the issuer credit rating. UNIQUE REALTY: Gets Final OK to Use CBTC's Cash Collateral ---------------------------------------------------------- Unique Realty, LLC received final approval from the U.S. Bankruptcy Court for the Eastern District of Arkansas to use the cash collateral of its primary secured creditor, Commercial Bank & Trust Company. Under the order, the Debtor may continue using cash collateral in the ordinary course of business until confirmation of a Chapter 11 plan, conversion of the case to Chapter 7, or dismissal of the bankruptcy case. The Debtor must account for all cash collateral receipts and expenditures through its monthly operating reports filed with the U.S. Trustee. Commercial Bank & Trust will be provided with protection through a first-priority lien on the Debtor's post-petition rents and other collateral covered by the mortgage, and a superpriority administrative expense claim. In addition, the bank and the Debtor are authorized to continue operating under the terms of their existing mortgage agreement. As adequate protection, the Debtor is required to make monthly payments of $19,710.65 to CBT beginning this month. A copy of the court's order is available at https://shorturl.at/4SqWS from PacerMonitor.com. Commercial Bank & Trust Company, as secured creditor, is represented by: Hani W. Hashem, Esq. Hashem Law Firm, PLC P.O. Box 739 437 W. Conrad St. Monticello, AR 71657 (870) 367-4223 Telephone (870) 367-4299 Facsimile hwh@hashemlawfirm.com About Unique Realty LLC Unique Realty, LLC leases real property located in McGehee, Arkansas. Unique Realty sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Ark. Case No. 25-14049) on November 19, 2025. In its petition, the Debtor reported assets of up to $50,000 and liabilities of between $1 million and $10 million. Honorable Bankruptcy Judge Phyllis M. Jones handles the case. The Debtor is represented by Frank Falkner, Esq., at Dilks Law Firm. UNIQUE REALTY: Gets Final OK to Use FNSB's Cash Collateral ---------------------------------------------------------- Unique Realty, LLC received final approval from the U.S. Bankruptcy Court for the Eastern District of Arkansas to use the cash collateral of First Natural State Bank. Under the final order, the Debtor is authorized to use cash collateral in the ordinary course of business until confirmation of a Chapter 11 plan, conversion of the case to Chapter 7, or dismissal of the bankruptcy case. Before its bankruptcy filing, the Debtor had assigned rents and revenues from its real property to First Natural State Bank under a mortgage agreement. Those rents and revenues constitute cash collateral securing the bank's claim estimated at $472,000.17 as of the petition date. First Natural State Bank will be provided with protection through a first-priority lien on post-petition rents and other collateral covered by the mortgage, and a superpriority administrative expense claim. In addition, the bank and the Debtor are authorized to continue performing under the terms of the mortgage agreement. As adequate protection, the Debtor must make monthly payments of $4,950 to FNSB beginning June 30, 2026, and continuing on the last day of each month until the case is resolved. If the Debtor fails to comply with the order or becomes more than seven days delinquent on a payment, FNSB may obtain relief from the automatic stay through an ex parte motion and proceed against the collateral without the need for a further hearing. The order is available at https://shorturl.at/FYxQb First Natural State Bank, as secured creditor, is represented by: John A. Singleton, Esq. Hashem Law Firm, PLC P.O. Box 739 437 W. Conrad St. Monticello, AR 71657 (870) 367-4223 Telephone (870) 367-4299 Facsimile jasingleton@hashemlawfirm.com About Unique Realty LLC Unique Realty, LLC leases real property located in McGehee, Arkansas. Unique Realty sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Ark. Case No. 25-14049) on November 19, 2025. In its petition, the Debtor reported assets of up to $50,000 and liabilities of between $1 million and $10 million. Honorable Bankruptcy Judge Phyllis M. Jones handles the case. The Debtor is represented by Frank Falkner, Esq., at Dilks Law Firm. UPCYCLE LLC: Case Summary & Five Unsecured Creditors ---------------------------------------------------- Debtor: Upcycle, LLC 1735 S Santa Fe Ave Los Angeles, CA 90021-2904 Business Description: Upcycle, LLC is a Los Angeles-based apparel manufacturing company that produces sustainable garments, including premium blank T-shirts, fleece tops and hoodies, with a focus on reusing textile scraps and recycled materials in local Southern California production. Chapter 11 Petition Date: June 16, 2026 Court: United States Bankruptcy Court Central District of California Case No.: 26-16017 Debtor's Counsel: Michael R Totaro, Esq. TOTARO & SHANAHAN, LLP P.O. Box 789 Pacific Palisades CA 90272 Tel: (310) 804-2157 Email: Ocbkatty@aol.com Total Assets: $184,750 Total Liabilities: $1,311,047 The petition was signed by Gregory Jules Lorber as managing member. A full-text copy of the petition, which includes a list of the Debtor's five unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/6X6NTDA/Upcycle_LLC__cacbke-26-16017__0001.0.pdf?mcid=tGE4TAMA US MAGNESIUM: Unsecureds Will Get 5% to 16% in Committee's Plan --------------------------------------------------------------- The Official Committee of Unsecured Creditors of US Magnesium LLC submitted a Second Amended Combined Disclosure Statement and Plan of Liquidation for the Debtor dated June 12, 2026. The Company was, at one time, the largest producer of primary magnesium in North America. The Debtor operated a facility adjacent to the Great Salt Lake in Rowley, Utah, approximately sixty miles west of Salt Lake City (the "Facility"), where magnesium has been produced from the waters of the Great Salt Lake (the "GSL") since 1972. The Facility operated by the Company was constructed in 1972 by National Lead, Inc. In 1979, the Facility and its operations were purchased by AMAX, Inc., which operated the Facility through its subsidiary AMAX Magnesium Corp. The Debtor is a Delaware limited liability company. As of the Petition Date, The Renco Group was the Debtor's sole member. The Debtor's manager is Ron Thayer, who serves as its President. On August 25, 2025, the Debtor appointed an independent manager, Shaun Martin, in connection with the Debtor's anticipated restructuring (the "Current Independent Manager"). The Current Independent Manager is charged with reviewing any transactions proposed between the Debtor and its member (or any of its affiliates) in connection with the Chapter 11 Case, and has the sole discretion to approve or not approve any such transactions. The Company received a proposed asset purchase agreement from the Renco Stalking Horse Purchaser, an affiliate of Renco, under which the Renco Stalking Horse Purchaser would serve as the stalking horse purchaser for substantially all assets of the Debtor, which would be acquired pursuant to section 363 of the Bankruptcy Code. Leading up to the Petition Date, the Debtor, including the Current Independent Manager, and its professional advisors negotiated the terms of the Renco Stalking Horse Purchaser's offer, culminating in the Stalking Horse APA. The focus of the Debtor's chapter 11 process was to continue to market its business in accordance with its Bid Procedures with the benefit of a stalking horse bidder. Class 7 consists of General Unsecured Claims. Holders of Allowed General Unsecured Claims shall receive, in exchange for their Allowed General Unsecured Claims, a Pro Rata share of the Liquidating Trust Interests, which entitle the Liquidating Trust Beneficiaries thereof to a Pro Rata share of any net proceeds of the Liquidating Trust Assets. The allowed unsecured claims total $100,000,000. This Class will receive a distribution of 5% to 16% of their allowed claims. On or as soon as reasonably practicable after the Effective Date, the Liquidating Trustee shall (i) open, or cause to be opened, the Liquidating Trust Assets Accounts and any further accounts to hold the Liquidating Trust Assets; and (ii) fund said accounts or reserves with Available Cash, in accordance with the Combined Disclosure Statement and Plan, all of which accounts and reserves shall constitute Liquidating Trust Assets. The Professional Fee Reserve shall continue to be maintained and administered by the Liquidating Trustee. On the Effective Date, the Liquidating Trust shall be established pursuant to the Liquidating Trust Agreement for the purpose of, inter alia, (a) administering the Liquidating Trust Assets, (b) prosecuting and/or resolving all Disputed Claims, (c) investigating and pursuing any Causes of Action that constitute Liquidating Trust Assets, and (d) making all Distributions to the Liquidating Trust Beneficiaries as provided for under the Combined Disclosure Statement and Plan. A full-text copy of the Second Amended Combined Disclosure Statement and Plan dated June 12, 2026 is available at https://urlcurt.com/u?l=R1SbCW from Stretto Inc., claims agent. Counsel to the Official Committee of Unsecured Creditors: Justin R. Alberto, Esq. Cole Schotz P.C. 500 Delaware Avenue, Suite 600 Wilmington, DE 19801 Telephone: (302) 652-3131 Facsimile: (302) 652-3117 Email: jalberto@coleschotz.com EVERSHEDS SUTHERLAND (US) LLP Todd C. Meyers, Esq. Danielle Barav-Johnson, Esq. 999 Peachtree Street NW, Suite 2300 Atlanta, GA 30309 Telephone: (404) 868 -6645 Email: ToddMeyers@eversheds-sutherland.com -and- Todd C. Meyers, Esq. John J. Ramirez, Esq. Sameer M. Alifarag, Esq. 1114 Avenue of the Americas, 40th Floor New York, NY 10036 Telephone: (212) 389-5000 Email: toddmeyers@eversheds-sutherland.com johnramirez@eversheds-sutherland.com sameeralifarag@eversheds-sutherland.com About US Magnesium LLC US Magnesium LLC is a magnesium producer based in Salt Lake City, Utah. US Magnesium LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 25-11696) on Sept. 10, 2025. In its petition, the Debtor estimated assets and liabilities between $100 million and $500 million each. Judge Brendan Linehan Shannon oversees the case. The Debtor tapped Michael Busenkell, Esq., at Gellert Seitz Busenkell & Brown, LLC as counsel; Carl Marks Advisory Group LLC as restructuring advisor; and SSG Advisors, LLC as investment banker. Stretto, Inc., is the Debtor's claims and noticing agent. USA MEDICAL: Unsecured Creditors to Split $5,800 over 3 Years ------------------------------------------------------------- USA Medical Care, LLC filed with the U.S. Bankruptcy Court for the Middle District of Florida a Plan of Reorganization dated June 11, 2026. The Debtor is a Florida for profit corporation created by Articles of Organization filed with the Florida Secretary of State on or around January 22, 2013. The Debtor is engaged in the business of outpatient primary care physician services, particularly with a focus as an area of critical need provider, working with patients who have low or no income in communities that are underserved. Debtor's principal place of business is located at 904 W Magnolia Street, Kissimmee, Florida 34741 ("Premises"), which is leased from Omakran Investments, LLC, a noninsider. The Debtor's projected disposable income is $5,745.00. This Plan provides for two classes of secured claims; one class of unsecured claims; and one class of equity security holders. Class 3 of the Allowed Unsecured Claims against the Debtor. This Class is Impaired. * Consensual Plan Treatment: The liquidation value or amount that unsecured creditors would receive in a hypothetical chapter 7 case is approximately $0.00. Accordingly, the Debtor proposes to pay holders of allowed general unsecured claims a pro rata portion of $5,800.00. The Reorganized Debtor shall pay said amount in equal quarterly payments of $483.33 and shall be disbursed pro rata to the holders of Allowed General Unsecured Claims. Payments shall commence on the Effective Date and shall continue quarterly for eleven additional quarters. Pursuant to §1191, the value to be distributed to unsecured creditors is greater than the Debtor's projected disposable income to be received in the 3-year period beginning on the date that the first payment is due under the plan. * Nonconsensual Plan Treatment: The liquidation value or amount that unsecured creditors would receive in a hypothetical chapter 7 case is approximately $0.00. Accordingly, the Debtor proposes to pay holders of allowed general unsecured claims a pro rata portion of its projected Disposable Income, $5,745.00. If the Debtor remains in possession, plan payments shall include the Subchapter V Trustee's administrative fee which will be billed hourly at the Subchapter V Trustee's then current allowable blended rate. Payments will be made in equal quarterly payments of $478.75 and shall be disbursed pro rata to the holders of Allowed General Unsecured Claims. Plan Payments shall commence on the Effective Date, and shall continue quarterly for eleven additional quarters. Class 4 consists of any and all equity interests and warrants currently issued or authorized in the Debtor. This Class is Unimpaired. Holders of Class 4 interests shall retain their full equity interest in the same amounts, percentages, manner and structure as existed on the Petition Date. The Plan contemplates that the Reorganized Debtor will continue to operate the Debtor's business. Except as explicitly set forth in this Plan, all cash in excess of operating expenses generated from operation until the Effective Date will be used for Plan Payments or Plan implementation, cash on hand as of Confirmation shall be available for Administrative Expenses. A full-text copy of the Plan of Reorganization dated June 11, 2026 is available at https://urlcurt.com/u?l=0dm8JD from PacerMonitor.com at no charge. Counsel to the Debtor: Branson Ainsworth PLLC Cole B. Branson, Esq. E-mail: cole@bransonlaw.com Jeffrey S. Ainsworth, Esq. E-mail: jeff@bransonlaw.com 1501 E. Concord Street Orlando, Florida 32803 Telephone (407) 894-6834 Fax (407) 894-8559 About USA Medical Care LLC USA Medical Care, LLC, a Florida for profict corporation, is engaged in the business of outpatient primary care physician services. The Debtor filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. M.D. Fla. Case No. 26-01786) on March 13, 2026. At the time of the filing, the Debtor reported up to $50,000 in assets and between $500,001 and $1 million in liabilities. Andrew Layden serves as Subchapter V trustee. The Debtor is represented by Andres Robles Cruz, Esq. at Robles Cruz Law, P.A. VIKING BAKED: S&P Affirms 'B' ICR on Jimmy's Gourmet Purchase ------------------------------------------------------------- S&P Global Ratings affirmed its 'B' issuer credit rating on U.S.-based Viking Baked Goods Acquisition Corp. (dba Rise Baking Co.). S&P said, "We affirmed our 'B' issue-level ratings on its now $1.2 billion of senior secured notes and $400 million term loan B. The recovery ratings on these facilities are '3', reflecting our expectation for meaningful recovery (50%-70%; rounded estimate: 55%) in the event of default. "We also affirmed our 'BB-' issue-level rating on its $70 million super-priority cash flow revolver. The recovery rating on this facility is '1+', reflecting our expectation for full recovery (100%) in the event of default. "The stable outlook reflects our expectation that Rise will grow earnings, reduce S&P Global Ratings-adjusted leverage, and generate healthy free operating cash flow (FOCF) over the next 12 months." Rise intends to acquire Jimmy's Gourmet Bakery, a U.S.-based manufacturer and seller of thaw-and-serve baked cookies. It will finance the acquisition with a $300 million add-on to its senior secured notes. S&P expects the acquisition will close in the coming months. S&P estimates S&P Global Ratings-adjusted pro forma leverage of about 6.7x for the 12 months ended March 28, 2026, below its 7x downside threshold. The affirmation reflects S&P Global Ratings adjusted leverage of about 6.7x, pro forma for the transaction, which is within the bounds of the current rating. Rise plans to issue a $300 million add-on to its existing senior secured notes due 2031 to fund its all-cash purchase of Jimmy's Gourmet Bakery, cover transaction costs, and bolster cash on hand. Pro forma leverage of 6.7x for the 12 months ended March 28, 2026, is a moderate increase compared with 6.3x prior to the transaction. The acquisition of Jimmy's will boost Rise's position in thaw-and-serve baked and frosted sugar cookies with a key retailer and also alleviate some capacity constraints for its core business. It may also yield synergies by eliminating duplicative resources, as well as provide overhead consolidation, automation, and freight savings because of Jimmy's manufacturing footprint. Nonetheless, the transaction carries integration risk, and expected benefits and synergies may not be fully realized or may cost more than expected to achieve. S&P projects earnings will improve despite demand pressure. Rise reported a modest year-over-year net sales decline in the first quarter of fiscal 2026 (ended March 28, 2026) due to lower volumes in certain categories. The company benefitted from lower commodity prices. However, its earnings were pressured by increasing freight costs due to higher oil prices and tight driver availability, as well as higher ingredient import costs due to U.S. tariffs. S&P said, "We forecast organic net sales will increase about 1% in 2026, primarily on higher pricing to counterbalance increased costs, partly offset by persistent demand pressure due to U.S. consumer affordability challenges. We expect organic volumes will remain weak over the near term because of lower consumer spending due to slowing disposable income growth, a weakening labor market, and a pick-up in inflation. Notwithstanding demand pressure, we project its S&P Global Ratings-adjusted leverage will decline to the mid-6x area over the next 12 months as the company ramps up new business wins, passes on higher freight costs, and achieves operational cost savings from its network optimization, facility consolidation, automation, procurement, and other initiatives." Sustained high oil prices could weigh on Rise's profitability by contributing to lower household purchasing power, more cautious consumer spending, and higher commodity and shipping costs. In addition, though we expect lower prices for key agricultural commodities (such as cocoa and eggs) will be a tailwind in the immediate term, commodity price volatility remains a key risk, particularly beyond fiscal 2026. It could be more difficult or take longer for Rise to pass on higher costs in a weak demand environment. Rise will maintain a highly leveraged capital structure under financial-sponsor ownership. Acquisitions are a core part of Rise's growth strategy, allowing it to scale its business, broaden its product offering, expand its manufacturing capabilities, and diversify its customer base. S&P anticipates it will use its excess cash flow and additional debt capacity for acquisitions to continue building its capacity and capabilities. S&P said, "Absent business investment needs or acquisition opportunities, we believe Rise may pursue debt-financed distributions to its financial sponsor. As such, we believe the company's financial policies may prevent meaningful deleveraging over the long term. "The stable outlook reflects our expectation Rise will grow its earnings, reduce S&P Global Ratings-adjusted leverage, and generate healthy FOCF over the next 12 months." S&P could lower its ratings if its forecast Rise will sustain S&P Global Ratings-adjusted leverage above 7x. This could occur if the company: -- Faces volume declines due to lower consumer demand or the loss of key customers; -- Cannot offset higher commodity costs through price increases or other actions; -- Incurs significant acquisition integration costs that deteriorate earnings and cash flow; or -- Pursues additional debt-financed acquisitions or shareholder distributions before deleveraging. S&P could raise its ratings if Rise improves earnings and S&P believe it will sustain S&P Global Ratings-adjusted leverage below 5x. This could occur if the company: -- Increases organic revenue because its new product offerings resonate with consumers; -- Achieves cost savings through network optimization and facility consolidation; -- Successfully integrates Jimmy's and achieves cost and revenue synergies; and -- Demonstrates a commitment to maintaining S&P Global Ratings-adjusted leverage below 5x. VIVAKOR INC: 2026 Annual Meeting Set for June 30 in Dallas, Texas ----------------------------------------------------------------- Vivakor, Inc. announced that it will hold its 2026 Annual Meeting of Stockholders on Tuesday, June 30, 2026, at 10:00 a.m. Central Time, at 2278 Monitor Street, Dallas, Texas 75207, and will be conducted in an in-person only format. Voting Information: The Company's Board of Directors has fixed May 21, 2026 as the record date for the determination of stockholders entitled to notice of, and to vote at, the Special Meeting and at any adjournment or postponement of the meeting. Only stockholders of record of the Company's common or preferred stock, at the close of business on the record date, will be entitled to notice of, and to vote at, the Special Meeting or any adjournment thereof. All stockholders are cordially invited to attend. The Notice of Internet Availability of Proxy Materials and proxy card will be mailed to stockholders on or about June 12, 2026. Stockholders needing assistance can email the Company at info@vivakor.com. About Vivakor Inc. Vivakor Inc., headquartered in Dallas, Texas, operates an integrated midstream platform providing crude oil transportation, terminaling, storage, marketing and trading services across major U.S. producing basins. The company's transportation operations include trucking and pipeline infrastructure serving Colorado's DJ Basin, Central Oklahoma's STACK play and the Permian and Eagle Ford basins of Texas. Its assets include the Omega Gathering Pipeline, a 45-mile crude oil gathering and shuttle system in Blaine County, Oklahoma, and terminaling facilities in Colorado City, Texas; Delhi, Louisiana; and CP Omega. The company also has a remediation processing segment under development at the San Jacinto River & Rail Park in Harris County, Texas, designed to process oilfield waste, tank bottoms, vessel residues and contaminated soils. As of March 31, 2026, the Company had $111.8 million in total assets, $78.1 million in total liabilities, and $33.6 million in total stockholders' equity. In an audit report dated April 15, 2026, Urish Popeck & Co., LLC included a going concern qualification, stating that Vivakor had a significant working capital deficiency, suffered significant recurring losses from operations and needed to raise additional funds to meet obligations and sustain operations. The conditions raised substantial doubt about the company's ability to continue as a going concern. VIVAKOR INC: Investor Converts $103K in Notes to 355,979 Shares --------------------------------------------------------------- Vivakor Inc. disclosed in a regulatory filing that on June 10 and June 11, 2026, the Company received Notices of Conversion from one of the seven non-affiliated accredited investors converting a total of $103,100.78 of the amounts due under the Lender Notes into 355,979 shares of the Company's common stock. Pursuant to the terms of the Lender Notes and the Notices of Conversion, the Company issued the Lender Shares. The Lender Shares were issued without a Rule 144 restrictive legend pursuant to a legal opinion received by the Company and its transfer agent. The issuances of the foregoing securities were exempt from registration pursuant to Section 4(a)(2) of the Securities Act promulgated thereunder as the holder is an accredited investor and familiar with the Company's operations. Background As previously reported, between June 6 and June 9, 2025, the Company issued convertible promissory notes, to seven non-affiliated accredited investors, in the aggregate principal amount of $5,117,647.06 in connection with a Securities Purchase Agreement entered into by and between the Company and the Lenders. Under the terms of the Lender SPA and the Lender Notes, the Company received $4,350,000 prior to deducting customary fees. About Vivakor Inc. Vivakor Inc., headquartered in Dallas, Texas, operates an integrated midstream platform providing crude oil transportation, terminaling, storage, marketing and trading services across major U.S. producing basins. The company's transportation operations include trucking and pipeline infrastructure serving Colorado's DJ Basin, Central Oklahoma's STACK play and the Permian and Eagle Ford basins of Texas. Its assets include the Omega Gathering Pipeline, a 45-mile crude oil gathering and shuttle system in Blaine County, Oklahoma, and terminaling facilities in Colorado City, Texas; Delhi, Louisiana; and CP Omega. The company also has a remediation processing segment under development at the San Jacinto River & Rail Park in Harris County, Texas, designed to process oilfield waste, tank bottoms, vessel residues and contaminated soils. As of March 31, 2026, the Company had $111.8 million in total assets, $78.1 million in total liabilities, and $33.6 million in total stockholders' equity. In an audit report dated April 15, 2026, Urish Popeck & Co., LLC included a going concern qualification, stating that Vivakor had a significant working capital deficiency, suffered significant recurring losses from operations and needed to raise additional funds to meet obligations and sustain operations. The conditions raised substantial doubt about the company's ability to continue as a going concern. W. GATES REAL: Gets Interim OK to Use Cash Collateral ----------------------------------------------------- W. Gates Real Estate Holdings, LLC received second interim approval from the U.S. Bankruptcy Court for the Northern District of California, Oakland Division, for continued use of cash collateral in its Chapter 11 case pending a final hearing. The court authorized the Debtor to use cash collateral in accordance with an approved budget. Budgeted expenditures must not exceed 25% of the amounts listed without creditor consent or further court authorization. The interim relief remains effective from June 1 through July 13. As adequate protection, the court found that secured creditors are protected by a substantial equity cushion in the Debtor's real estate assets. As additional protection, the Debtor must reserve and make monthly adequate protection payments of $8,250 to Wilson Bank & Trust beginning this month, maintain appropriate insurance coverage on its assets, and provide financial information to creditors upon reasonable request. Other secured creditors are entitled to reserve mortgage payments as they come due and were granted replacement liens with the same validity and priority as their prepetition liens. The order was entered without prejudice to the Debtor's right to challenge the validity, extent, or priority of any creditor liens during the bankruptcy case. A final hearing on the cash collateral motion is scheduled for July 13. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/AI3TS from PacerMonitor.com. About W. Gates Real Estate Holdings LLC W. Gates Real Estate Holdings, LLC owns a residential real estate property in Nolensville, Tennessee, at 2794 Sanford Road. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Tenn. Case No. 26-11110) on April 29, 2026. In the petition signed by William Coffee, as managing member, the Debtor disclosed up to $10 million in both assets and liabilities. Judge Nicholas W. Whittenburg oversees the case. W. Thomas Bible, Jr., Esq., at TOM BIBLE LAW, represents the Debtor as legal counsel. W. JACKSON TRUCKING: Unsecureds Will Get 100% over 5 Years ---------------------------------------------------------- W. Jackson Trucking, LLC, filed with the U.S. Bankruptcy Court for the Eastern District of Arkansas a Plan of Reorganization for Small Business dated June 11, 2026. The Debtor is a limited liability company. Since 2015, the Debtor has been in the business of transportation. The Plan Proponent's financial projections show that the Debtor will have projected disposable income of $271,616.00. The final Plan payment is expected to be paid on June 2031. Non-priority unsecured creditors holding allowed claims will receive distributions, which the proponent of this Plan has valued at approximately 100 cents on the dollar. The Plan also provides for the payment of administrative and priority claims. Class 8 consists of the allowed general unsecured non-priority claims, in the approximate amount of $181,256.85. The Debtor estimates that there will be a dividend pool accumulated over the next five years of the plan in the amount of $271,616.00. Therefor, unsecured creditors will receive approximately 100% distribution of their claims. The Debtor proposes to pay $20,000 in year 1, and $40,315.00 in years 2-5, until unsecured claims are paid in full. These payments shall be made to unsecured claims on a pro-rata basis in June of each year of the plan, starting in 2027. Equity Security holders will retain their equity interest in the property of the estate. Upon confirmation, the Debtor shall be charged with administration of the case. William Jackson will continue to perform his current position as managing member of the Debtor, and payments for the plan will be made from cash flow from this business. A full-text copy of the Plan of Reorganization dated June 11, 2026 is available at https://urlcurt.com/u?l=SS7HhO from PacerMonitor.com at no charge. Counsel to the Debtor: Michael E. Crawley, Jr, Esq. Crawley Law Firm, P.A. 2702 S. Culberhouse, Suite N Jonesboro, AR 72401 Tel: (870) 972-1150 About W. Jackson Trucking LLC W. Jackson Trucking, LLC, a company based in Bono, Arkansas, operates as an interstate freight carrier hauling agricultural commodities. Leveraging a fleet of tractors and trailers, the company moves products across state lines, supporting agricultural supply chains and connecting regional producers with broader markets. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Ark. Case No. 26-10959) on March 13, 2026, with up to $50,000 in assets and $1 million to $10 million in liabilities. William Jackson, managing member, signed the petition. Judge Phyllis M. Jones presides over the case. Michael E. Crawley, Jr., Esq., at Crawley Law Firm, P.A. represents the Debtor as bankruptcy counsel. W/L PROPERTIES: Gets OK to Use Cash Collateral Until Nov. 30 ------------------------------------------------------------ W/L Properties L.L.C. received preliminary approval from the U.S. Bankruptcy Court for the District of Connecticut, Hartford Division to use cash collateral. The court authorized the Debtor to use the funds from May 1 through Nov. 30 to fund operations in accordance with an approved budget. The budget projects total monthly operational expenses of $92,546.24 for the interim period. Manufacturers and Traders Trust Company, the Debtor's secured lender, will be granted adequate protection through replacement liens on the Debtor's post-petition assets, with the same priority and extent as the lender's pre-petition liens. In addition, the lender will receive a monthly payment of $50,000, to be applied first to accrued interest on the outstanding loans. The Debtor is required to maintain a tax escrow account for post-petition real estate taxes and is prohibited from selling or transferring collateral outside the ordinary course of business without the lender's consent or further court authorization. The order reserves all parties' rights to challenge the validity, extent, priority, or amount of the lender's claims and liens. Any challenge by the Debtor to the validity or perfection of the lender's pre-petition liens must be commenced by August 1. A further hearing is scheduled for Nov. 30. The order is available at https://is.gd/n2BxJJ from PacerMonitor.com. About W/L Properties LLC W/L Properties, LLC is a single-asset real estate company that owns The Shoppes at Larson Farm, a 59,201-square-foot retail plaza at 1379 Farmington Avenue in Bristol, Connecticut. The property has an estimated value of $13.49 million. W/L Properties filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. D. Conn. Case No. 26-20444) on May 1, 2026, listing $13,582,367 in assets and $10,413,156 in liabilities. Stephen C. Larson signed the petition as managing member. Judge James J. Tancredi oversees the case. The Debtor tapped Edward P. Jurkiewicz, Esq., at Lawrence & Jurkiewicz, LLC as bankruptcy counsel; Thomas P. Moriarty, LLC as special counsel; and J&S Property Management, LLC as property manager. WEST RIDGE: Hires Hilco Real Estate and Onyx Asset as Realtors -------------------------------------------------------------- West Ridge, Inc. and affiliates seek approval from the U.S. Bankruptcy Court for the Northern District of West Virginia to employ Hilco Real Estate, LLC and Onyx Asset Advisors, LLC as real estate sales agents. The agents will market and sell the Debtors' properties known as Lot 4B2, Martin Hollow Road, Morgantown, WV; 3000 Swiss Pine Way, Morgantown, WV (Pad 3B Tract 2); and Pad 3B Tract 3a. The agents will render these services: (a) meet with the Debtors to ascertain the Debtors' goals, objectives, and financial parameters in selling the properties; (b) solicit interested parties for the sale of the properties, and market the Real Property through a managed qualifying bid process; and (c) negotiate the terms of the sale of the properties. The agents will be paid as follows: (a) Sale Fee. In the event any of the Real Property is sold, the proposed Sales Agent shall earn a fee equal to 5.0% of the aggregate cash and non-cash consideration received by the Debtors, including any credit bid, in consideration of the Real Property, which shall be split as follows: 2.5% to Hilco and 2.5% to Onyx. If StanCorp Financial Group purchases any of the Real Property via a credit bid, the proposed Sales Agent shall earn a fee equal to 2.5% of the Gross Sale Proceeds, which shall be split as follows: 1.25% to Hilco and 1.25% to Onyx. (b) Cancellation Fee. In the event the sale and/or auction of the Real Property is cancelled, including in connection with a refinancing of the Real Property or confirmation of a plan of reorganization, the proposed Sales Agent shall earn a fee in the amount of $50,000, which shall be due and payable on the date the sale and/or auction was scheduled to occur. (c) Reimbursable Expenses. The Debtors shall reimburse the proposed Sales Agent for all reasonable and customary expenses incurred in connection with the performance of the Services, capped at $25,000, as set forth in the Engagement Letter. As disclosed in the court filings, Hilco and Onyx are "disinterested persons" within the meaning of Bankruptcy Code section 101(14), as modified by Bankruptcy Code section 1107(b). The agents can be reached through: Eric Kaup Hilco Real Estate, LLC 5 Revere Drive, Suite 206, Northbrook, IL 60062 Email: ekaup@hilcoglobal.com - and - K. Kevin Otus Onyx Asset Advisors, LLC 50 California Street, Suite 1500 San Francisco, CA 94111 Phone: (415) 799-3299 Email: kotus@thinkonyx.com About West Ridge, Inc. West Ridge, Inc. engaged in real estate development and management in Morgantown, West Virginia, operating under a unified management structure. West Ridge and affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. W. Va. Lead Case No. 25-00451) on August 18, 2025. In its petition, West Ridge reported estimated assets between $10 million and $50 million and estimated liabilities between $50 million and $100 million. Honorable Bankruptcy Judge David L. Bissett handles the cases. The Debtors tapped David B. Salzman, Esq., at Campbell & Levine, LLC, as bankruptcy counsel and Barth & Thompson as local counsel. WOODCREST CONDOMINIUMS: Plan Exclusivity Period Extended to Sept. 1 ------------------------------------------------------------------- Judge Elizabeth L. Gunn of the U.S. Bankruptcy Court for the District of Columbia extended Woodcrest Condominiums IX, LLC's exclusive periods to file a plan of reorganization and obtain acceptance thereof to Sept. 1 and Nov. 1, 2026, respectively. As shared by Troubled Company Reporter, the Debtor is a limited liability company formed under the laws of the District of Columbia, which owns three condominium units (the "Condo Units") located on Woodcrest Drive SE, Washington, DC 20032. The Condo Units are part of a larger condominium development known as Woodcrest Villas. The Condo Units are the Debtor's primary assets, and the proceeds from the sale of the Condo Units represent the Debtor's primary source of cash for funding its operations and administrative expenses incurred during the Bankruptcy Case. Welch Family Limited Partnership Five asserts a disputed lien against the Condo Units. The Debtor filed an adversary proceeding against Welch seeking to, among other things, determine that the Welch lien is invalid, which adversary proceeding is pending and has yet to be adjudicated. The Debtor explains that although this is not a large case, the pendency of the disputed liens asserted by Welch and the extensive litigation with Welch has made this case complex. The Debtor has worked expeditiously to position the disputed issues before the Court for determination. Woodcrest Condominiums IX LLC is represented by: Brent C. Strickland, Esq. Whiteford, Taylor & Preston L.L.P. 8830 Stanford Blvd., Suite 400 Columbia, Maryland 21045 Phone: (410) 347-9402 Facsimile: (410) 223-4302 Email: bstrickland@whitefordlaw.com Joshua D. Stiff, Esq. Whiteford, Taylor & Preston, L.L.P. 249 Central Park Avenue, Suite 300 Virginia Beach, VA 23462 Telephone: (757) 271-9751 Facsimile: (757) 271-9736 Email: jstiff@whitefordlaw.com About Woodcrest Condominiums IX LLC Woodcrest Condominiums IX LLC is a residential real estate company that appears to develop or manage condominium properties in Washington, DC, operating under the Woodcrest Villas brand. The company maintains its principal place of business at 454-460 Woodcrest Drive SE in Washington, DC, with its primary operations in residential building construction as indicated by its NAICS code 2361. Woodcrest Condominiums IX LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.D.C. Case No. 25-00265) on July 9, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. Judge Elizabeth L. Gunn oversees the case. The Debtors are represented by Brent C. Strickland, at Whiteford Taylor & Preston L.L.P. WRENCHERS LLC: Gets Interim OK to Use Cash Collateral Until July 16 ------------------------------------------------------------------- Wrenchers, LLC received interim approval from the U.S. Bankruptcy Court for the Eastern District of Michigan to use cash collateral to fund its operations. Under the interim order, the Debtor is authorized to use cash collateral based on its 13-week budget through the final hearing scheduled for July 16. The Debtor is authorized to spend up to $65,000 per week, subject to a 15% variance per line item. The court prohibits payment of pre-petition debts, except for authorized payments to secured creditors as adequate protection. Meanwhile, payment of professional fees and the Subchapter V trustee's fees requires further court approval. Secured creditors with valid pre-petition interests in cash collateral including JPMorgan Chase Bank, N.A. and the U.S. Small Business Administration will be granted adequate protection through replacement liens on post-petition collateral. In addition, the SBA and JPMorgan will receive monthly payments of $500 and $3,500, respectively. JPMorgan Chase Bank holds a blanket lien securing approximately $68,206 while the SBA claims a blanket lien securing roughly $90,000. The order is available at https://is.gd/m1Jvnz from PacerMonitor.com. A final hearing is scheduled for July 16. As of the bankruptcy filing, Wrenchers reported approximately $232,200 in assets, including $41,000 in cash, $6,200 in accounts receivable, $10,000 in furniture and office equipment, and $175,000 in shop equipment and tools. The Debtor's financial difficulties primarily arise from obligations inherited from the prior owner, including unfinished customer projects with prepaid deposits, costs to correct defective work, facility expansion expenses, and assumed acquisition-related debt, totaling approximately $1.2 million. In 2025, two customers filed lawsuits against the business and Mr. Ackerman, each seeking over $400,000, further increasing legal costs. Although the Debtor disputes the claims, litigation expenses have strained liquidity. Despite generating approximately $200,000 in monthly revenue since December 2025, operating costs, debt service, and litigation expenses have exceeded income, leading to the Chapter 11 filing. About Wrenchers LLC Wrenchers, LLC is a Michigan-based automotive restoration business specializing in classic cars, hot rods, and muscle cars. Wrenchers filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. E.D. Mich. Case No. 26-46367) on June 2, 2026, with up to $500,000 in assets and up to $1 million in liabilities. Patrick Ackerman, principal, signed the petition. Judge Lisa S. Gretchko oversees the case. Robert Bassel, Esq., represents the Debtor as legal counsel. Richardo Kilpatrick, Esq., at Kilpatrick & Associates, P.C. serves as Subchapter V trustee for the Debtor. [] Moody's Upgrades Ratings on 37 Bonds from 5 US RMBS Deals ------------------------------------------------------------ Moody's Ratings has upgraded the ratings of 37 bonds from five US residential mortgage-backed transactions (RMBS), backed by prime jumbo and agency eligible mortgages. A comprehensive review of all credit ratings for the respective transactions has been conducted during a rating committee. The complete rating actions are as follows: Issuer: GS Mortgage-Backed Securities Trust 2024-PJ10 Cl. B-1, Upgraded to Aa1 (sf); previously on Aug 21, 2025 Upgraded to Aa2 (sf) Cl. B-1A, Upgraded to Aa1 (sf); previously on Aug 21, 2025 Upgraded to Aa2 (sf) Cl. B-2, Upgraded to Aa3 (sf); previously on Aug 21, 2025 Upgraded to A2 (sf) Cl. B-2A, Upgraded to Aa3 (sf); previously on Aug 21, 2025 Upgraded to A2 (sf) Cl. B-X-1*, Upgraded to Aa1 (sf); previously on Aug 21, 2025 Upgraded to Aa2 (sf) Cl. B-X-2*, Upgraded to Aa3 (sf); previously on Aug 21, 2025 Upgraded to A2 (sf) Issuer: GS Mortgage-Backed Securities Trust 2025-PJ3 Cl. B-1, Upgraded to Aa1 (sf); previously on Mar 31, 2025 Definitive Rating Assigned Aa2 (sf) Cl. B-1A, Upgraded to Aa1 (sf); previously on Mar 31, 2025 Definitive Rating Assigned Aa2 (sf) Cl. B-2, Upgraded to A1 (sf); previously on Mar 31, 2025 Definitive Rating Assigned A2 (sf) Cl. B-2A, Upgraded to A1 (sf); previously on Mar 31, 2025 Definitive Rating Assigned A2 (sf) Cl. B-X-1*, Upgraded to Aa1 (sf); previously on Mar 31, 2025 Definitive Rating Assigned Aa2 (sf) Cl. B-X-2*, Upgraded to A1 (sf); previously on Mar 31, 2025 Definitive Rating Assigned A2 (sf) Issuer: GS Mortgage-Backed Securities Trust 2025-PJ5 Cl. B-1, Upgraded to Aa1 (sf); previously on Aug 21, 2025 Upgraded to Aa2 (sf) Cl. B-1A, Upgraded to Aa1 (sf); previously on Aug 21, 2025 Upgraded to Aa2 (sf) Cl. B-2, Upgraded to Aa3 (sf); previously on May 30, 2025 Definitive Rating Assigned A2 (sf) Cl. B-2A, Upgraded to Aa3 (sf); previously on May 30, 2025 Definitive Rating Assigned A2 (sf) Cl. B-3, Upgraded to A3 (sf); previously on May 30, 2025 Definitive Rating Assigned Baa2 (sf) Cl. B-4, Upgraded to Baa3 (sf); previously on May 30, 2025 Definitive Rating Assigned Ba1 (sf) Cl. B-5, Upgraded to Ba2 (sf); previously on Aug 21, 2025 Upgraded to Ba3 (sf) Cl. B-X-1*, Upgraded to Aa1 (sf); previously on Aug 21, 2025 Upgraded to Aa2 (sf) Cl. B-X-2*, Upgraded to Aa3 (sf); previously on May 30, 2025 Definitive Rating Assigned A2 (sf) Issuer: GS Mortgage-Backed Securities Trust 2025-PJ6 Cl. B-1, Upgraded to Aa1 (sf); previously on Jun 30, 2025 Definitive Rating Assigned Aa2 (sf) Cl. B-1A, Upgraded to Aa1 (sf); previously on Jun 30, 2025 Definitive Rating Assigned Aa2 (sf) Cl. B-2, Upgraded to Aa3 (sf); previously on Jun 30, 2025 Definitive Rating Assigned A2 (sf) Cl. B-2A, Upgraded to Aa3 (sf); previously on Jun 30, 2025 Definitive Rating Assigned A2 (sf) Cl. B-3, Upgraded to A3 (sf); previously on Aug 21, 2025 Upgraded to Baa1 (sf) Cl. B-X-1*, Upgraded to Aa1 (sf); previously on Jun 30, 2025 Definitive Rating Assigned Aa2 (sf) Cl. B-X-2*, Upgraded to Aa3 (sf); previously on Jun 30, 2025 Definitive Rating Assigned A2 (sf) Issuer: GS Mortgage-Backed Securities Trust 2025-PJ7 Cl. B-1, Upgraded to Aa1 (sf); previously on Jul 31, 2025 Definitive Rating Assigned Aa3 (sf) Cl. B-1A, Upgraded to Aa1 (sf); previously on Jul 31, 2025 Definitive Rating Assigned Aa3 (sf) Cl. B-2, Upgraded to A1 (sf); previously on Jul 31, 2025 Definitive Rating Assigned A2 (sf) Cl. B-2A, Upgraded to A1 (sf); previously on Jul 31, 2025 Definitive Rating Assigned A2 (sf) Cl. B-3, Upgraded to A3 (sf); previously on Jul 31, 2025 Definitive Rating Assigned Baa2 (sf) Cl. B-4, Upgraded to Baa3 (sf); previously on Aug 21, 2025 Upgraded to Ba1 (sf) Cl. B-5, Upgraded to B1 (sf); previously on Jul 31, 2025 Definitive Rating Assigned B2 (sf) Cl. B-X-1*, Upgraded to Aa1 (sf); previously on Jul 31, 2025 Definitive Rating Assigned Aa3 (sf) Cl. B-X-2*, Upgraded to A1 (sf); previously on Jul 31, 2025 Definitive Rating Assigned A2 (sf) * Reflects Interest-Only Classes RATINGS RATIONALE The rating upgrades reflect the increased levels of credit enhancement available to the bonds, the recent performance, and Moody's updated loss expectations on the underlying pools. Some of the transactions Moody's reviewed continue to display strong collateral performance, with no current cumulative losses and a small number of loans in delinquency. The remaining transactions have seen an increase in the amount of loans in delinquency but have not incurred losses. In addition, enhancement levels for most tranches have grown significantly, as the pools amortize relatively quickly. The credit enhancement since closing has grown, on average, by 1.5x for the non-exchangeable tranches upgraded. No actions were taken on the other rated classes in these deals because their expected losses remain commensurate with their current ratings, after taking into account the updated performance information, structural features, credit enhancement and other qualitative considerations. Principal Methodologies The principal methodology used in rating all classes except interest-only classes was "US Residential Mortgage-backed Securitizations" published in May 2026. Factors that would lead to an upgrade or downgrade of the ratings: Up Levels of credit protection that are higher than necessary to protect investors against current expectations of loss could drive the ratings of the subordinate bonds up. Losses could decline from Moody's original expectations as a result of a lower number of obligor defaults or appreciation in the value of the mortgaged property securing an obligor's promise of payment. Transaction performance also depends greatly on the US macro economy and housing market. Down Levels of credit protection that are insufficient to protect investors against current expectations of loss could drive the ratings down. Losses could rise above Moody's expectations as a result of a higher number of obligor defaults or deterioration in the value of the mortgaged property securing an obligor's promise of payment. Transaction performance also depends greatly on the US macro economy and housing market. Other reasons for worse-than-expected performance include poor servicing, error on the part of transaction parties, inadequate transaction governance and fraud. An IO bond may be upgraded or downgraded, within the constraints and provisions of the IO methodology, based on lower or higher realized and expected loss due to an overall improvement or decline in the credit quality of the reference bonds. Finally, performance of RMBS continues to remain highly dependent on servicer procedures. Any change resulting from servicing transfers or other policy or regulatory change can impact the performance of these transactions. In addition, improvements in reporting formats and data availability across deals and trustees may provide better insight into certain performance metrics such as the level of collateral modifications. ********* 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 ***