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260709.mbx T R O U B L E D C O M P A N Y R E P O R T E R Thursday, July 9, 2026, Vol. 30, No. 190 Headlines 1205 SOUTHPORT: Case Summary & Three Unsecured Creditors 1207 SOUTHPORT: Case Summary & Two Unsecured Creditors 30 EAST 40TH: Fine-Tunes Plan Documents 303 CLFX: Seeks Chapter 11 Bankruptcy After Breach of Contract Suit A&C AUTOWORKS: Commences Chapter 11 Bankruptcy in Colorado A-V VILLAGE: Voluntary Chapter 11 Case Summary ACTVE SPINE: Gets Interim OK to Use Cash Collateral Until Sept. 30 AMERICAN LANGUAGE: Available Cash & Business Operation to Fund Plan AMERICAN TOOL: Motion for Protective Order Granted in Part ANDERSON HAY: Signs Preliminary Deal for Sale of Forage Business APLD COMPUTECO 3: Fitch Assigns BB- Long Term IDR, Outlook Positive AQUA RESOLUTION: Court OKs Continued Use of Cash Collateral ASB CERA: Hires Law Office of Gerald J. Klein as Special Counsel ATHLETICO HOLDINGS: S&P Downgrades ICR to 'CC', Outlook Negative BARRETTS MINERALS: Must Defend Viability of $450MM Chapter 11 Plan BAUSCH HEALTH: Michael Goettler Exits Board to Lead Knoa as CEO BEAR MOUNTAIN: Reaches $2.75MM Deal Over Resident Harm Claims BEELINE HOLDINGS: Acquires Full Ownership of MagicBlocks BHUJS INC: Case Summary & 20 Largest Unsecured Creditors BLEND COFFEE 1: Gets Final OK to Use Cash Collateral BON MORRO: Amends Mortgage Debt Secured Claim Pay Details BONNIE MAULDIN: Todd Hennings Named Subchapter V Trustee BQB AUTO: Starts Chapter 11 Bankruptcy in New York BRASKEM S.A.: Chapter 15 Case Summary BUZZFEED INC: Ends London Lease, Repays $7.5M Debt CAMPBELL 215: Case Summary & Five Unsecured Creditors CHAFIN AGENCY: Seeks Subchapter V Bankruptcy in Texas CMS DESIGN: Eric Michael Huebscher Named Subchapter V Trustee CONVERTIBLE BUILDERS: Seeks Chapter 11 Bankruptcy in Florida CRESCENT CITY: Voluntary Chapter 11 Case Summary D 5030 WESTMINSTER: Seeks Court OK to Hire Offit Kurman as Counsel DARRYL CULBRETH: Court Dismisses Bankruptcy Case DEALER SOURCE: Gets Interim OK to Use Cash Collateral DENTON COUNTY: Unsecureds to Get $300 per Month over 5 Years DESERT ROSE: Voluntary Chapter 11 Case Summary ECI PHARMACEUTICALS: Sale Order, Plan Confirmation Upheld EG GROUP: S&P Places 'B' Issuer Credit Rating, On Watch Positive EL DORADO: Court Okays $101,700 Fee for CR3 Partners ELITE INVESTMENTS: Aleida Molina Named Subchapter V Trustee ETHEMA HEALTH: Reports $2.18M FY2025 Loss Amid Going Concern Doubt EVONA LLC: Unsecureds to Get Share of Income for 3 Years FAIRMONT AT THE CEDARS: Receivership Ordered Over $32M Debt Default FENG TAI: Taps Bill Zou & Associates as Legal Counsel FINANCE OF AMERICA: Closes $5.2B HECM MSR Acquisition From Onity FRIDLEY ISD 14: Moody's Downgrades Issuer & GOULT Ratings to B1 GEDEN HOLDINGS: Court Affirms Denial of Chapter 15 Recognition GRANIO LLC: Seeks Chapter 11 Bankruptcy to Protect Housing Complex HEALTHCARE FOR ALL: Seeks to Extend Plan Exclusivity to Oct. 16 HERNANDEZ-LOPEZ & SONS: Unsecureds Will Get 100% over 54 Months HILL METAL: Case Summary & 12 Unsecured Creditors HOLLY INVESTMENT: Section 341(a) Meeting of Creditors on July 13 HYPERMIND CORP: Unsecureds Will Get 5% of Claims over 60 Months IMAGE DENTAL: Creditors to Get Proceeds From Liquidation IMPRIVATA INC: S&P Rates Extended First-Lien Credit Facilities 'B' INTERNATIONAL SUPPORT: Gets OK to Use Cash Collateral Until Aug. 11 J.B. HARRIS: Seeks Chapter 11 Bankruptcy w/ $2.9MM Unsecured Debt JAGUAR HEALTH: Completes Series O Preferred Conversion JJ STUCKEY: Gets Interim OK to Use Cash Collateral JPK NEWCO: Developer RE1, et al. Can Appeal Interlocutory Order KAIZEN CLEANING: Frederick Bunol Named Subchapter V Trustee LA TENTACION PIZZA: Nicole Nigrelli Named Subchapter V Trustee LAYLA CONSULTING: Yann Geron Named Subchapter V Trustee LINDY’S ON 4TH: Gets Interim OK to Use Cash Collateral LOFTS AT NORTH: Voluntary Chapter 11 Case Summary M2I GLOBAL: Cites $3 Billion in Critical-Minerals Opportunities MEI REAL ESTATE: Claims to be Paid from Property Sale Proceeds MENTORING AND BEHAVIORAL: William Harris Named Subchapter V Trustee MERCER INTERNATIONAL: Moody's Lowers CFR to Caa3, Outlook Stable METALWORKING LUBRICANTS: Gets Extension to Access Cash Collateral MICHELLE ANNE: Unsecureds Will Get 4.90% of Claims in Plan MIRO HOUSE: Seeks Subchapter V Bankruptcy in California MOUNTAINEER MERGER: S&P Affirms 'CCC' ICR, Outlook Negative MY VAPE: Gets Extension to Access Cash Collateral NANA'S B&B: Seeks Chapter 11 Bankruptcy After Landlord Lawsuit NEW YORK TAILORS: Claims to be Paid from Continued Operations NORTH ATLANTA HOME: Leon Jones Named Subchapter V Trustee ON POINT DIRECTIONAL: Unsecureds Will Get 15% over 60 Months OPTIMAL BEGINNINGS: Seeks Chapter 11 Bankruptcy in Maryland P R C TRANSPORT: Brian Hofmeister Named Subchapter V Trustee PACIFICA OF THE VALLEY: Seeks Ch.11 Bankruptcy w/ Over $100MM Debt PARAMOUNT ROOFING: Gets Final OK to Use Cash Collateral PERFORMERS EDGE: KC Cohen Named Subchapter V Trustee PETER F. DIPAOLO: Unsecureds to Split $250K via Quarterly Payments PICARD MEDICAL: Names Joe Xiao to Board, Committees PICHOI CORPORATION: Case Summary & 19 Unsecured Creditors PLURI INC: Chutzpah Holdings, 3 Others Report Equity Stake READY ROOFING: Gets Interim OK to Use Cash Collateral REUP GALAXY: Updates Liquidating Plan Disclosures RK PARISI: Case Summary & 20 Largest Unsecured Creditors RM FERRANTE: Gets Interim OK to Use Cash Collateral ROBERT L. NORVELL: 11th Cir. Tosses Automatic Stay Appeal ROBERTSHAW US: District Court Dismisses Invesco's Debt Deal Appeal RYAN LLC: S&P Rates Proposed EUR400MM First-Lien Term Loan B SB CONTRACTORS: Unsecured Creditors to Split $110K in Plan SIMAD HOLDINGS: Gets Interim OK for DIP Loan From Mishmeret Trust SPEYSIDE HOLDINGS: Gets Interim OK to Use Cash Collateral STONEBRIDGE GOLF: Case Summary & 20 Largest Unsecured Creditors STRONG ABODE: Section 341(a) Meeting of Creditors on July 24 STUCKEY PREMIER: Gets OK to Use Cash Collateral Until July 31 SUPRA NATIONAL: Unsecureds Will Get 7% of Claims in Plan TOLLANIS TECHNOLOGY: Section 341(a) Meeting of Creditors on July 21 TONIX PHARMACEUTICALS: Registers 1.68MM Shares Under Stock Plans TPI COMPOSITES: Court Confirms Joint Chapter 11 Plan of Liquidation TRINSEO PLC: Lenders Seek Authority to File Debt Deal Suit UNCLE NEAREST: Appeals Court Rejects Weavers' Stay Request VASILIA INVESTMENTS: Gets Extension to Access Cash Collateral VOLATO GROUP: Prices 11M-Share Direct Offering at 16.5 Cents WHITEEAGLE PROPERTIES: Court Cuts Attorney Fees to $66,285 Z SQUARED: Raises $15.42 Million Through Equity Advance [] Ex-U.S. Trustee Lawyer Appointed California Bankruptcy Judge [^] Recent Small-Dollar & Individual Chapter 11 Filings ********* 1205 SOUTHPORT: Case Summary & Three Unsecured Creditors -------------------------------------------------------- Debtor: 1205 Southport, LLC 2013 Cyclone Ridge Cove Round Rock, TX 78665 Business Description: 1205 Southport, LLC is a single-asset real estate company. Chapter 11 Petition Date: July 6, 2026 Court: United States Bankruptcy Court Western District of Texas Case No.: 26-11287 Judge: Hon. Christopher G Bradley Debtor's Counsel: Stephen W Sather, Esq. BARRON & NEWBURGER, P.C. 7320 N. MoPac Expressway 400 Austin, TX 78731 Tel: (512) 476-9103 x220 E-mail: ssather@bn-lawyers.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Patsy Harnage as manager. A full-text copy of the petition, which includes a list of the Debtor's three unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/ZHTDDQA/1205_Southport_LLC__txwbke-26-11287__0001.0.pdf?mcid=tGE4TAMA 1207 SOUTHPORT: Case Summary & Two Unsecured Creditors ------------------------------------------------------ Debtor: 1207 Southport, LLC 2013 Cyclone Ridge Cove Round Rock, TX 78665 Business Description: 1207 Southport, LLC is a single-asset real estate company (as defined in 11 U.S.C. Section 101(51B)). Chapter 11 Petition Date: July 6, 2026 Court: United States Bankruptcy Court Western District of Texas Case No.: 26-11288 Judge: Hon. Shad M Robinson Debtor's Counsel: Stephen W Sather, Esq. BARRON & NEWBURGER, P.C. 7320 N. MoPac Expressway 400 Austin TX 78731 Tel: (512) 476-9103 x220 Email: ssather@bn-lawyers.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Patsy Harnage as member. A full-text copy of the petition, which includes a list of the Debtor's two unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/ZBUTBXY/1207_Southport_LLC__txwbke-26-11288__0001.0.pdf?mcid=tGE4TAMA 30 EAST 40TH: Fine-Tunes Plan Documents --------------------------------------- 30 East 40th, L.L.C., submitted a Second Amended Disclosure Statement describing Plan of Liquidation dated June 26, 2026. On May 8, 2026, the Court entered an Order Regarding the Retention of a Chief Restructuring Officer (the "CRO Order") directing the retention of a Chief Restructuring Officer to conduct the management and sale of the Property through closing. Pursuant to the CRO Order, Getzler Henrich & Associates LLC has been engaged and Mark D. Podgainy has been designated as Chief Restructuring Officer (the "CRO"), subject to entry of an order of this Court. The CRO took operational control of the Property on June 9, 2026. Subject to further order of this Court, the CRO has retained Walter & Samuels, Inc., to continue as property manager under the CRO's direction from the Surrender Date through closing of the sale of the Property, to preserve operational continuity. As directed by the CRO Order, the CRO will engage Jones Lang LaSalle ("JLL") as broker for the sale of the Property. The Debtor reserves all of its rights under the Ground Lease and the guaranties, as provided in the CRO Order. The Debtor initially valued the Property at $28,000,000 as of the Petition Date based on broker advice. Preliminary post-petition marketing efforts suggest that the value is substantially lower, but still substantially more than creditor claims. For purposes of this Disclosure Statement, based on recent expressions of interest, the Debtor estimates that the value of the Property, sold free and clear of the Ground Lease is between approximately $19,000,000 and $24,000,000. The primary purpose of this chapter 11 case is to effectuate an orderly sale of the Property pursuant to the Plan, thereby maximizing recoveries for all creditors and parties in interest. Following entry of the CRO Order, the sale will be conducted by the CRO. The Ground Tenant surrendered possession so a sale subject to the Ground Lease is not an option. And based on advice from JLL a sale of the Property free and clear of the Ground Lease maximizes value for the estate. Like in the prior iteration of the Plan, payment of available Cash up to Allowed Amount of Class 5 General Unsecured Claims, Administrative Expense Claims post-Confirmation wind up costs; Allowed Other Priority Claims; Statutory Fees, and Class 1, 2, 3, and 4 Claims. If no cash is available from the Sale Proceeds, each Class 5 Claimant shall be entitled to its pro-rata share of the Creditor Reserve. The Plan is based on the Debtor's sale of the Property free and clear of the Ground Lease, with marketing and sale conducted by the CRO as provided in the CRO Order. The CRO is in the process of engaging JLL as broker and Walter & Samuels as property manager, and will conduct the marketing and sale of the Property through closing. All claims of the estate under the Good Guy Guaranty and the SL Green Guaranty are reserved as provided in the CRO Order. Payments under the Plan will be paid from the Property Sale Proceeds. After the Confirmation Order is entered, but prior to or on the Effective Date, the Property shall be sold to Purchaser free and clear of all Liens, Claims, and encumbrances, with any such Liens, Claims, and encumbrances to attach to the Property Sale Proceeds and payments will be made in accordance with the provisions of this Plan. A full-text copy of the Second Amended Disclosure Statement dated June 26, 2026 is available at https://urlcurt.com/u?l=YZJVsU from PacerMonitor.com at no charge. 30 East 40th L.L.C. is represented by: Mark Frankel, Esq. Backenroth Frankel & Krinsky, LLP 488 Madison Avenue, Floor 23 New York, NY 10022 Tel: (212) 593-1100 About 30 East 40th, L.L.C. 30 East 40th L.L.C. is a single asset real estate company. 30 East 40th L.L.C. filed for relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Case No. 25-12696) on Dec. 2, 2025. In its petition, the Debtor listed assets between $10 million and $50 million and liabilities in the same range. Bankruptcy Judge Michael E. Wiles handles the case. The Debtor is represented by Mark A. Frankel, of Backenroth Frankel & Krinsky, LLP. 303 CLFX: Seeks Chapter 11 Bankruptcy After Breach of Contract Suit ------------------------------------------------------------------- On June 18, 2026, 303 CLFX, LLC filed for Chapter 11 protection in the U.S. Bankruptcy Court for the District of Colorado. According to court filings, the Debtor reports between $1 million and $10 million in liabilities, 50-99 creditors, and estimated assets ranging from $100,000 to $500,000. A meeting of creditors under Section 341(a) to be held on July 27, 2026 at 01:00 PM at Telephonic Chapter 11: Phone 888-330-1716, Access Code 8602461#. Chapter 11 Small Business Subchapter V Plan must be filed by Sept. 16, 2026, while Government Proofs of Claim are due by Dec. 15, 2026. About 303 CLFX, LLC 303 CLFX, LLC is a Denver, Colorado-based sporting goods retailer specializing in skateboarding equipment, apparel, and accessories. The company has served the local skateboarding community for nearly three decades through multiple retail locations and an integrated online and in-store sales platform. 303 CLFX, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-14399) on June 18, 2026. In its petition, the Debtor reports estimated assets of $100,000 to $500,000 and estimated liabilities of $1 million to $10 million. Honorable Bankruptcy Judge Michael E. Romero handles the case. The Debtor is represented by Jonathan Dickey, Esq. of Kutner Brinen Dickey Riley, P.C. A&C AUTOWORKS: Commences Chapter 11 Bankruptcy in Colorado ---------------------------------------------------------- On June 18, 2026, A&C Autoworks Inc. filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the District of Colorado. According to court filings, the Debtor reports between $1 million and $10 million in assets and between $1 million and $10 million in liabilities, with 1 to 49 creditors. The Chapter 11 filing follows a mechanic's lien foreclosure lawsuit filed in February 2026 involving approximately $14,000 in allegedly unpaid repair work. About A&C Autoworks Inc. A&C Autoworks Inc. is a Thornton, Colorado-based automotive repair and maintenance company specializing in Subaru repair and general light truck maintenance. The company has served customers in the Thornton and Northglenn communities for more than a decade and previously received pandemic-related relief grant funding in 2020. A&C Autoworks Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-14422) on June 18, 2026. In its petition, the Debtor reports estimated assets of $1 million to $10 million and estimated liabilities of $1 million to $10 million. The case is assigned to Honorable Michael E. Romero, United States Bankruptcy Judge. The Debtor is represented by Andrew D. Johnson, Esq., of Onsager Fletcher Johnson Palmer LLC. A-V VILLAGE: Voluntary Chapter 11 Case Summary ---------------------------------------------- Debtor: A-V Village Creek Owner LLC 1412 Main St. Dallas, TX 75202 Business Description: A-V Village Creek Owner LLC owns a multifamily apartment community located at 6630 South Zunis Avenue in Tulsa, Oklahoma. Chapter 11 Petition Date: July 2, 2026 Court: United States Bankruptcy Court Northern District of Texas Case No.: 26-32922 Debtor's Counsel: Joyce Lindauer, Esq. LINDAUER & VAUGHN 117 S. Dallas St. Ennis TX 75119 Tel: (972)503-4033 E-mail: joyce@joycelindauer.com Estimated Assets: $10 million to $50 million Estimated Liabilities: $10 million to $50 million The petition was signed by Marc Kulick as authorized signer. The petition was filed without the Debtor's list of its 20 largest unsecured creditors. A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/4ROYGLQ/A-V_Village_Creek_Owner_LLC__txnbke-26-32922__0001.0.pdf?mcid=tGE4TAMA ACTVE SPINE: Gets Interim OK to Use Cash Collateral Until Sept. 30 ------------------------------------------------------------------ Active Spine Physical Therapy, LLC received interim approval from the U.S. Bankruptcy Court for the District of Nebraska to use cash collateral. Under the interim order, the Debtor is authorized to use cash collateral from June 15 through Sept. 30 to fund operations under a court-approved budget, with total disbursements capped at 120% of the budgeted monthly expenses. The budget projects approximately $193,189 in total revenue, almost entirely from fee-for-service physical therapy income. Planned operating expenses total approximately $210,678. The projections reflect an overall net operating loss of approximately $17,489 during the budget period. The two secured creditors with potential interests in the cash collateral are Ulster Savings Bank and the U.S. Small Business Administration. Ulster, through a loan serviced by BHG Financial, is owed $49,102 and holds a perfected security interest in substantially all of the Debtor's business assets. The SBA is owed $152,111 and similarly holds a perfected lien covering virtually all tangible and intangible personal property. As adequate protection, the Debtor offers granting replacement liens on post-petition assets to the same extent as any valid pre-petition liens. Existing loan documents and lien rights would remain in full force, secured creditors would receive inspection rights over the Debtor's books, records, and operations, and the Debtor would continue making regular monthly principal and interest payments to both Ulster and the SBA in accordance with the original loan agreements. The order is available at http://bankrupt.com/misc/ActiveSpine_ICCOrder25.pdf The court scheduled a final hearing for August 17 and set an August 10 deadline for filing objections. Active Spine Physical Therapy, which has operated since 2012 and employs four people, provides adult and pediatric physical therapy services and generates revenue primarily through patient payments and insurance reimbursements. The Debtor's Chapter 11 filing follows years of litigation that began in 2019 and resulted in a 2023 jury judgment of $593,733 in favor of 132 Ventures, LLC. After the judgment creditor obtained a writ of execution authorizing the Douglas County Sheriff to seize and liquidate the Debtor's assets, the Debtor unsuccessfully sought to quash the writ, arguing that the assets were already encumbered by senior liens and that some property belonged to an employee rather than the company. Following the state court's denial of that motion, the Debtor filed for Chapter 11 protection on June 15 to preserve its business operations. About Active Spine Physical Therapy LLC Active Spine Physical Therapy, LLC provides adult and pediatric physical therapy services. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Neb. Case No. 26-80704) on June 15, 2026, with $50,001 to $100,000 in assets and $500,001 to $1 million in liabilities. Patrick Raymond Turner, Esq., at Turner Legal Group, LLC represents the Debtor as legal counsel. AMERICAN LANGUAGE: Available Cash & Business Operation to Fund Plan ------------------------------------------------------------------- The American Language Kollege, Inc., d/b/a Talk International filed with the U.S. Bankruptcy Court for the Southern District of Florida a Plan of Reorganization dated June 26, 2026. The Debtor is a Florida corporation with a mailing address of 3501 South University Drive, Suite 3, Davie, Florida 33328. The Debtor uses the names TALK International, TALK Schools, TALK School of English, and TALK Language Schools. The Debtor operates an education business that provides English-language and professional development programs to international students. The Debtor is managed by Desmond Levin, its President and majority shareholder, who has served in that role since February 12, 1996. The Debtor's equity security holders are Anthony D. Lloyd, Desmond Levin, and Rina Buberoglu Levin. The Debtor commenced this case as a result of cash flow constraints driven primarily by a significant decline in student enrollment. International students historically represent a substantial portion of the Debtor's enrollment and revenue base. Changes in immigration policy and increased restrictions on new student visas have reduced the available pool of prospective international students, resulting in a sharp decline in tuition income and overall cash flow. Since the Petition Date, the Debtor has worked to stabilize operations, maintain student services, preserve relationships with recruitment agents and other critical vendors, and reduce operating expenses. Specifically, the Debtor obtained authority to use cash collateral, maintain its cash management structure, pay certain workforce obligations, pay certain critical vendors and student tuition refunds, provide adequate assurance to Florida Power & Light Company, finance insurance premiums, retain Bankruptcy Counsel, and retain its Financial Advisor. The Debtor's operations require teachers and instructional personnel, admissions and enrollment personnel, student services personnel, administrative staff, recruitment agents, and certain student support services. The Debtor's business relies on the ability to collect tuition and registration fees from domestic and international students. Class 2 consists of all Allowed General Unsecured Claims against the Debtor that are not otherwise separately classified and are not Insider Claims. The Debtor's Schedules list General Unsecured Claims totaling approximately $2,418,230.55. These amounts remain subject to the claims allowance process, Claim objections, amendments, scheduled Claim treatment under the Bankruptcy Code and Bankruptcy Rules, duplicate claim review, statutory caps, reductions, settlements, and credits for any payments authorized by Bankruptcy Court order or otherwise made by or on behalf of the Debtor. Based on the Debtor's claims analysis, the Debtor estimates that approximately $1,046,143.80 in General Unsecured Claims are not presently identified as Disputed Claims, and approximately $1,372,086.75 in General Unsecured Claims are Disputed Claims. These estimates are preliminary and do not constitute an admission that any Claim is an Allowed Claim. The Debtor reserves all rights to object to, reconcile, settle, amend, reclassify, reduce, disallow, or otherwise resolve any filed or scheduled Claim. Holders of Allowed Class 2 Claims shall receive their pro rata share of the Debtor's Net Disposable Income, without interest, payable in twelve consecutive quarterly installments beginning on the Initial Distribution Date. Class 3 consists of the equity interests in the Debtor. The existing equity interests are held by Anthony D. Lloyd, Desmond Levin, and Rina Buberoglu Levin. Class 3 is Unimpaired and is not entitled to vote. Retention of equity is subject to the Debtor’s performance under the Plan and the requirements of Chapter 11, Subchapter V of the Bankruptcy Code. The officers and directors of the Debtor immediately before the Effective Date shall serve as the initial officers and directors of the Reorganized Debtor after the Effective Date, unless changed in accordance with applicable nonbankruptcy law. Desmond Levin shall continue to serve as President of the Reorganized Debtor. The Plan shall be funded from the Debtor's continued business operations, Cash on hand, operating revenue, and funding obtained by the Debtor. The Reorganized Debtor may continue to operate its business, collect accounts and revenues, maintain and use Cash in the ordinary course, obtain ordinary course trade credit, make capital expenditures necessary to operations, employ professionals post-Effective Date in the ordinary course, and settle post-Effective Date claims and disputes, subject to Bankruptcy Court approval where required by applicable law. On the Effective Date, and except as otherwise provided in this Plan, the Confirmation Order, or a separate order, all Property of the Estate shall vest in the Reorganized Debtor free and clear of Claims and Interests, subject to valid Liens preserved under the Plan until paid in accordance with their treatment. A full-text copy of the Plan of Reorganization dated June 26, 2026 is available at https://urlcurt.com/u?l=RQFcc7 from PacerMonitor.com at no charge. Counsel to the Debtor: Morgan B. Edelboim, Esq. Edelboim Lieberman PLLC 2875 NE 191st St., Penthouse One Miami, FL 33180 Telephone: (305) 768-9909 Facsimile: (305) 928-1114 E-mail: morgan@elrolaw.com About The American Language Kollege The American Language Kollege, Inc., runs an education business providing English language and professional development programs to international students. The Debtor sought protection under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Fla. Case No. 26-13936) on March 30, 2026. In the petition signed by Desmond Levin, president, the Debtor disclosed up to $10 million in both assets and liabilities. The Debtor tapped Morgan B. Edelboim, at Edelboim Lieberman PLLC, as counsel, and Newpoint Advisors Corporation as financial advisor. AMERICAN TOOL: Motion for Protective Order Granted in Part ---------------------------------------------------------- Judge Luis E. Rivera II of the U.S. Bankruptcy Court for the Middle District of Florida granted in part the emergency motion for protective order filed by American Tool & Mold Inc. and its affiliated debtors. EverBank, N.A. filed an objection to the Motion for Protective Order. EverBank is a creditor of the Debtors arising from two loans made in July 2025: -- a loan of $13,246,000.00 and -- a working line of credit of $4,000,000.00. Both are secured by all of the Debtors' assets. The Debtors defaulted on the loans right away and EverBank filed an action against the Debtors in the Circuit Court of the Sixth Judicial Circuit in and for Pinellas County, Florida, seeking to enforce its mortgage and security agreements. In short order, the State Court appointed a receiver over the EverBank Collateral, effectively dispossessing the Debtors' pre-petition management. Right before the filing of these cases, the Debtors appointed Joseph Baum as Chief Restructuring Officer. Then, on May 15, 2026, the Debtors each filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code. The receiver thereafter returned possession of the EverBank Collateral to the Debtors, and the Debtors manage and operate their properties and businesses as debtors in possession. On May 18, 2026, EverBank filed its Emergency Motion for Appointment of Chapter 11 Trustee, which asserts cause exists to appoint a trustee, including gross mismanagement, financial collapse, and loss of operational control. EverBank argues cause exists to order the appointment of a trustee under Section 1104(a): (1) because the Debtors have engaged in dishonesty, concealment, and the improper diversion of estate cash prior to the petition date, (2) the Debtors' estate has been grossly mismanaged and lacks an ability to operate absent extraordinary third-party intervention, (3) prior management failed to discharge fiduciary duties resulting in the loss of credibility and creditor confidence, and (4) the Debtors' estate lacks operational control and governance, and such uncertainty warrants a trustee to avoid a functional vacuum of authority. The Debtors' Emergency Motion for Protective Order seeks to forbid discovery directed at any period prior to the filing of the petition or directed at the Debtors' customers. The Debtors assert that events prior to the bankruptcy filing are not relevant because they have been operating under the management of a Court-approved CRO. They also argue EverBank should be forbidden from taking discovery from their customers because the customer relationships are vital to their business and there has been no allegation of loss of customers or cancellation of orders since the CRO began operating the Debtors' business. EverBank argues discovery regarding past mismanagement is relevant to issue of the appointment of a chapter 11 trustee because the Court must be satisfied that the current management is free from the taint of prior management where, as here, the alleged misconduct concerns the same insider-controlled governance structure that selected the CRO, funded the engagement, commenced the cases, and continues to shape the debtor's chapter 11 strategy. It also argues that alleged commingling and diversion of customer funds and deterioration of customer relationships make discovery requests to customers necessary and directly relevant to the need to appoint a trustee under Section 1104(a). The Court granted in part the Motion for Protective Order by limiting the temporal scope of the discovery and quashing the discovery requests made to Debtors' customers. Judge Rivera explains, "Here, permitting discovery from customers risks undermining customer relationships with and confidence in the Debtors. This could affect the success of the reorganization, the ultimate distribution to creditors, and the viability of dozens of jobs. Under these circumstances, the potential prejudice to the Debtors' prospects of reorganization outweighs the likely benefit of discovery from the Debtors' customers, especially since the discovery is probably cumulative and duplicative. Further mitigating against the discovery is that the Debtors have installed a CRO charged with preventing a reoccurrence of the alleged commingling and diversion of customer funds. Thus, the evidence of alleged commingling and diversion of customer funds is less valuable in proving the need to appoint a trustee." A copy of the Court's Memorandum Opinion dated July 7, 2026, is available at http://urlcurt.com/u?l=jJnAMGfrom Pacermonitor.com. About American Tool & Mold Inc. American Tool & Mold Inc. is a manufacturing company specializing in precision tooling, mold design, and custom machining solutions for industrial and commercial clients. The company provides services related to tool-and-die production, injection molds, metal fabrication, and engineered manufacturing components. American Tool & Mold Inc. supports a range of industries, including automotive, aerospace, consumer products, and industrial equipment manufacturing. American Tool & Mold Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 26-04159) on May 15, 2026. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. Honorable Bankruptcy Judge Luis Ernesto Rivera II, Esq. handles the case. The Debtor is represented by Daniel A. DeMarco, Esq. of Hahn Loeser & Parks, LLP. EverBank, NA, as lender, is represented by: J. Ellsworth Summers, Jr., Esq. Dana L. Robbins-Boehner, Esq. Marc A. Sendra, Esq. BURR & FORMAN LLP 50 N Laura Street, Suite 3000 Jacksonville, FL 32202 Tel: (904) 232-7200 Fax: (904) 232-7 Email: esummers@burr.com drobbins-boehner@burr.com msendra@burr.com ANDERSON HAY: Signs Preliminary Deal for Sale of Forage Business ---------------------------------------------------------------- Mateusz Perkowski of Capital Press reports that Anderson Hay has unveiled a tentative agreement with an unnamed strategic partner to acquire most of its forage operations as the company works through Chapter 11 bankruptcy. According to its amended reorganization plan, the proposed sale is expected to close in late August or early September and would allow the company to satisfy virtually all creditor claims except those involved in pending disputes. The company reported nearly $60 million in liabilities and assets exceeding $80 million. The agreement is currently non-binding and takes the form of a memorandum of understanding while the parties negotiate final transaction documents. The prospective buyer would purchase a majority of Anderson Hay's Enterprise Group, including its hay production and processing divisions, and lease Washington properties tied to the company's forage operations, the report states. The amended plan provides fallback options if the transaction does not close. Anderson Hay said refinancing remains the preferred alternative because it would also enable repayment of most creditor claims. While two lenders have expressed interest in providing exit financing, the company has yet to receive a binding financing commitment. If neither strategy succeeds, creditor payments would come from future asset sales and refinancing activity, according to Capital Press. The filing further disclosed that the planned disposition of Anderson Hay's Oregon facility has collapsed. Despite a court-approved sale that was later reduced from $10.75 million to $8 million, the buyer failed to secure financing. Anderson Hay has discontinued negotiations with Millicent Property Co. and is pursuing other buyers, warning that there is no guarantee a replacement sale will be completed on schedule, the report states. About Anderson Hay & Grain Anderson Hay & Grain, together with its subsidiaries, supplies Pacific Northwest-grown forage products, including three-tie hay, bagged forage, compressed hay, and MAG bales, serving both consumer and commercial markets such as horse owners, small-acreage farms, retailers, and agricultural operations. The Company operates domestically and internationally, distributing hay to partners in more than 30 countries. Founded in 1960 and family-led since its inception, it focuses on producing consistent forage and maintaining long-term relationships across its supply chain. Anderson Hay and affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Wash. Case No. 25-02075) on November 26, 2026. In its petition, the Debtor reports estimated assets between $10 million and $50 million and estimated liabilities between $50 million and $100 million. Honorable Bankruptcy Judge Whitman L. Holt handles the case. The Debtors are represented by James L. Day, Esq. of BUSH KORNFELD LLP. APLD COMPUTECO 3: Fitch Assigns BB- Long Term IDR, Outlook Positive ------------------------------------------------------------------- Fitch Ratings has assigned APLD ComputeCo 3 LLC a Long-Term Issuer Default Rating (IDR) of 'BB-' and its $1.59 billion senior secured notes a rating of 'BB-'. The Rating Outlook is Positive. The ratings reflect the project's contracted revenue profile, supported by a 15-year lease with CoreWeave, Inc. (BB-/Positive). Under Fitch's rating case, cash flows during the initial lease term are sufficient to repay the debt. This mitigates lease renewal risk. However, the project's location and latency profile increase reliance on the current tenant. This caps the rating at CoreWeave's credit quality, although the project's financial metrics could support a higher rating. The project is exposed to completion risk, mitigated by the straightforward scope of work, and the execution of a guaranteed maximum price (GMP) with an experienced contractor. The project does not face power supply risk, as the substation and energy service agreement (ESA) are in place. The IDR is equalized with debt facilities' ratings. KEY RATING DRIVERS Completion Risk - Stronger Simple Construction, Experienced Contractor The assessment is supported by the straightforward construction scope, an experienced contractor and a reasonable schedule. The developer and contractor have already delivered 100 MW on the same campus, with an additional 150 MW project on track for completion in 3Q26. While the construction schedule has limited headroom and the tenant has termination rights if delays extend beyond six months after the Phase 1 rent commencement date, these risks are mitigated by the contractor's experience, strong labor sourcing strategy, and demonstrated progress on other campus buildings. Cost escalation risk is mitigated by the fixed-price GMP contract and by already secured prices for 99% of owner-furnished contractor-installed equipment. Furthermore, contingencies and a fully funded six-months debt service reserve account (DSRA) provide a reasonable cushion to absorb unavoidable costs during completion delays. Part of the campus is subject to a U.S. Fish and Wildlife Service (USFWS) easement. The land was disturbed during construction and USFWS has agreed to release the easement upon nearby wetland restoration and grant of replacement easements. The restoration work has been completed and approved by USFWS, with formal release expected ahead of the first lease target commencement date of January 2027. Supply Risk - Stronger Substation and ESA in Place The project does not face material power supply risk. A 530 MW substation is fully constructed on the Ellendale campus and can supply all buildings, with no additional power-related construction required. Of this, 180 MW is allocated to the project and currently operational, supplying an existing sponsor affiliate, a bitcoin mining facility, on campus. This entity holds an ESA with Montana-Dakota Utilities Co. (BBB+/Stable) which will be transferred to the project, along with all associated rights, prior to the lease ready-for-service dates. An additional 15 MW from excess campus capacity will also transfer, bringing total utility power available to 195 MW, which supports the project's PUE. Revenue Risk - Stronger No Lease Renewal Risk The project's cash flows are fully contracted under a 15-year modified gross plus electricity (MG+E) lease with CoreWeave, with three five-year extension options. The cash flows during the 15-year initial lease term are sufficient to repay the debt under Fitch's rating case assumptions, which eliminates lease renewal risk. The lack of lease renewal risk supports the assessment despite less-favorable latency in North Dakota. Operation Risk - Midrange MG+E Lease, Robust Performance Standards The lease is an MG+E structure, which passes electricity costs and some taxes to the tenant and reduces cost risk for the project. It includes robust performance standards that entitle the tenant to rent abatement for certain service interruptions or violations of service levels. The tenant also has termination options for affected data halls if service deficiencies exceed specified thresholds. Operational risks are mitigated by the data center's design, which includes redundancies for most critical systems. Infrastructure Development and Obsolescence Risk - Neutral Newly Built Data Center, Low Maintenance Since debt can fully amortize within the initial lease term under Fitch's rating case assumptions, exposure to technological obsolescence is limited. The newly built facility's core systems have useful lives extending beyond the lease term. Fitch anticipates only modest capex, primarily for battery replacement. Debt Structure - Weaker Refinance Risk, Weaker Features with Certain Protections Senior secured notes mature in 2031 with modest mandatory amortization, exposed to refinance risk in 2031. Liquidity includes an $81 million DSRA and plus funded interest during construction. The issuer and the subsidiary guarantors must operate as special-purpose entities (SPEs) with no comingling of funds with the parent entity, reflecting project finance protections. The structure permits additional indebtedness for new data center projects and additional debt up to 100% loan-to-cost ratio post-construction, which is a significant allowance. However, incurrence under these baskets requires rating agency confirmation from two agencies, one of which includes Fitch, resulting in strong project-finance-style protections. Certain debt provisions are atypical and weaker than standard project finance structures. There are smaller permitted baskets, including one capped at 50% of LTM net operating income, although the risk is mitigated by sufficient lease cash flows. The issuer may enter joint ventures but cannot incur debt to fund them. The documentation also permits M&A activity, which is atypical and weaker than other project finance structures. However, any merged entity must assume all issuer obligations, including indebtedness restrictions. Restricted payments are permitted without testing against a specific debt service coverage ratio (DSCR). Peer Analysis APLD Compute Co LLC (BB-/Stable) is the closest peer, located on the same Ellendale campus with 250 MW of critical IT capacity that is also leased to CoreWeave. While its project life coverage ratio (PLCR) supports a higher rating, the rating is constrained by CoreWeave's credit profile and its ability to incur additional debt. Unlike APLD Compute Co 3, APLD Compute Co LLC does not require rating agency confirmation to incur debt for additional projects, which also constrains its rating at 'BB-'/Stable. APLD Compute Co 2 LLC (BB-/Stable) is another peer, a 200 MW facility in Harwood, ND. It faces higher completion risk due to cost escalation exposure, tighter timelines and a less-experienced contractor. Its completion risk constrains the rating, whereas counterparty credit quality does not, given its investment-grade tenant. APLD Compute Co 2 also has a weaker financial profile, with a PLCR at maturity of 1.19x. RATING SENSITIVITIES Factors that Could, Individually or Collectively, Lead to Negative Rating Action/Downgrade - Significant construction delays that result in increased unavoidable financing costs not covered by either contingencies or debt service reserve could lead to a downgrade; - A degradation in the financial profile of the project, resulting in a decline in the minimum PLCR below 1.12x, could lead to a downgrade; - If CoreWeave's credit quality falls below 'BB-', Fitch could take a corresponding action on the project. Factors that Could, Individually or Collectively, Lead to Positive Rating Action/Upgrade - An upgrade in CoreWeave's credit quality above 'BB-', coupled with on-track completion progress, could lead to an upgrade. Financial Profile Fitch's base and rating cases assess project cash flows over the initial lease term and refinancing in year five. The base case assumes 3% annual operating expense growth, a 5% stress to expenses, maintenance capex for battery replacement, and an 8.5% refinancing rate. The rating case is identical except for a 10% stress to expenses. Fitch's rating case results in a PLCR of 1.29x at refinancing and an average DSCR of 1.23x (2028-2031) through note maturity. Fitch also assessed a case assuming the additional debt basket, capped at 50% of LTM NOI (approximately $105 million), is fully utilized prior to refinancing, which results in a PLCR of 1.20x in 2031. While coverage ratios are consistent with a higher rating, CoreWeave's rating caps the overall project rating. TRANSACTION SUMMARY The $1.59 billion senior secured notes are issued to develop a 150 MW critical IT capacity data center in North Dakota, preleased to CoreWeave. Note proceeds will fund the project, together with $565 million of equity funded at close. The project is negotiating a lease assignment that would allow CoreWeave to assign the lease to a bankruptcy-remote, investment-grade CoreWeave SPV. However, since the proposed SPV's revenue term is shorter than the 15-year lease and there will be a springing guarantee from CoreWeave after the SPV lease expires, the project rating would remain capped by CoreWeave's credit quality. SECURITY The notes are secured with first-priority liens on substantially all assets of the issuer and the subsidiary guarantors. Excess property, including real property not required to perform datacenter lease obligations and interconnection capacity exceeding the 150 MW critical IT capacity allocated to the project, is excluded from the collateral. While Fitch has received the executed financing and security documents, the mortgage has not been delivered. The indenture permits the issuer to take up to 180 days following closing to deliver the mortgage and related real estate deliverables. Date of Relevant Committee 05-Jun-2026 PUBLIC RATINGS WITH CREDIT LINKAGE TO OTHER RATINGS Ratings are directly linked with CoreWeave's credit quality. Climate Vulnerability Signals The results of its Climate.VS screener did not indicate elevated risk for APLD ComputeCo 3 LLC. ESG Considerations The highest level of ESG credit relevance is a score of '3', unless otherwise disclosed in this section. A score of '3' means ESG issues are credit-neutral or have only a minimal credit impact on the entity, either due to their nature or the way in which they are being managed by the entity. Fitch's ESG Relevance Scores are not inputs in the rating process; they are an observation on the relevance and materiality of ESG factors in the rating decision. Entity/Debt Rating Prior ----------- ------ ----- APLD ComputeCo 3 LLC LT IDR BB- New Rating BB-(EXP) APLD ComputeCo 3 LLC/senior secured/1 LT LT USD 1.59 bln 7% bond /note 15-Jun-2031 03790NAA5 LT BB- New Rating BB-(EXP) AQUA RESOLUTION: Court OKs Continued Use of Cash Collateral ----------------------------------------------------------- The U.S. Bankruptcy Court for the Northern District of Illinois, Eastern Division, granted Aqua Resolution, LLC approval to continue using cash collateral. The approval follows the court's earlier order entered on June 1, which had authorized the Debtor's use of cash collateral through June 29. In support of the extension, the Debtor submitted an operating budget for July. The Debtor's lender consented to the continued use of cash collateral for July in accordance with the approved budget. Based on that agreement, the court authorized the Debtor to continue using cash collateral through July 31, subject to the same terms and conditions contained in the June 1 order. The court also scheduled a continued status conference for July 27 at which it will review the Debtor's financial condition and determine whether further authorization for the use of cash collateral should be granted beyond July. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/ablCq from PacerMonitor.com. About Aqua Resolution LLC Aqua Resolution, LLC, doing business as RainSoft of Chicago, provides water treatment and filtration systems and related services, operating as an independent RainSoft dealership in Lombard, Illinois, serving residential and commercial customers. Aqua Resolution filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. N.D. Ill. Case No. 26-00804) on January 17, 2026, with $100,000 to $500,000 in assets and $1 million to $10 million in liabilities. Thomas J Norton, managing member, signed the petition. Judge Michael B. Slade presides over the case. David P. Leibowitz, Esq., at the Law Offices of David P. Leibowitz, LLC represents the Debtor as bankruptcy counsel. ASB CERA: Hires Law Office of Gerald J. Klein as Special Counsel ---------------------------------------------------------------- ASB Cera Realty LLC seeks approval from the U.S. Bankruptcy Court for the Southern District of New York to hire Gerald J. Klein, Esq. as special counsel. The firm will provide these services: (a) give legal advice regarding leasing and sale issues for the company's real property located at 53 Smith Road, Middletown, New York 10941; (b) negotiate and prepare all necessary and appropriate documents for the leasing and sale of estate property; and (c) represent the estate's interest in closings for the leasing and sale of estate property. Mr. Klein will receive an hourly rate of $575 and will also seek reimbursement of reasonable and necessary costs and disbursements, including photocopying, mail, overnight courier, and delivery services. According to court filings, Mr. Klein is a "disinterested person" within the meaning of Sections 101 and 327 of the Bankruptcy Code. The firm can be reached at: Gerald J. Klein, Esq. Law Office of Gerald J. Klein 954 Morris Avenue Lakewood, NJ 08701 About ASB Cera Realty LLC SB Cera Realty, LLC is a single-asset real estate company that owns and leases a commercial property at 53 Smith Road in Middletown, New York. ASB Cera Realty LLC sought protection under Chapter 11 of the Bankruptcy Code (Bankr. S.D.N.Y. Case No. 26-35681) on June 26, 2026. At the time of the filing, the company had estimated assets of between $10,000,001 and $50 million and estimated liabilities of between $1,000,001 and $10 million. Law Office of Michael D. Pinsky, P.C. is the company's legal counsel. ATHLETICO HOLDINGS: S&P Downgrades ICR to 'CC', Outlook Negative ---------------------------------------------------------------- S&P Global Ratings lowered its issuer credit rating on Athletico Holdings LLC to 'CC' from 'CCC+' and its issue-level rating on the company's revolver and first-lien term loan to 'CC' from 'CCC+'. The negative outlook reflects that S&P will lower its ratings on Athletico and its rated debt to 'SD' (selective default) or 'D' upon the close of the transaction. Athletico recently announced it has entered into an agreement with a group of its stakeholders to reduce its debt by about $750 million. S&P said, "We believe the proposed transaction will be distressed and tantamount to a default because the company's cash position and the amount of new financing imply its investors will receive less value than they were originally promised. "Downgrade follows announcement of a proposed transaction that we view as distressed. While Athletico has entered into an agreement with a group of its stakeholders to substantially deleverage its balance sheet, the proposed terms of the transaction appear to impair the claims of its existing creditors. Given the company's ongoing free operating cash flow deficits, thin liquidity ($30 million of cash as of March 31, 2026), and stated objective of reducing its debt by $750 million, we believe it is highly likely its lenders will receive far less than the original par value of their securities. "When the transaction closes and we receive the full details, we will complete our review. At that time, we will likely assess the transaction as distressed and tantamount to default because we expect its lenders to receive far less value than they were originally promised. Our evaluation will include a determination of whether Athletico's lenders received adequate compensation to offset the likely discount and maturity extensions involved in the exchange. When we complete our review--assuming the transaction is implemented as announced--we will lower our issuer credit rating on the company and our issue-level ratings on its revolver and first-lien term loan to 'SD' or 'D'. We would subsequently expect to raise our issuer credit rating on Athletico and assign issue-level and recovery ratings to its new debt based upon our review of its capital structure and performance expectations. "The negative outlook reflects that we will lower our ratings on Athletico and its rated debt to 'SD' or 'D' upon the close of the transaction." BARRETTS MINERALS: Must Defend Viability of $450MM Chapter 11 Plan ------------------------------------------------------------------ Clara Geoghegan of Law360 Bankruptcy Authority reports that a Texas bankruptcy judge has ordered an evidentiary hearing to evaluate the prospects for confirming Barretts Minerals Inc.'s proposed Chapter 11 reorganization plan. The former talc miner must convince the court that its restructuring proposal has a realistic path to approval or risk having its bankruptcy case dismissed. During the hearing, the court will examine evidence related to the feasibility of the company's $450 million restructuring plan, including whether it complies with bankruptcy requirements and can effectively resolve outstanding talc-related liabilities. Interested parties will have the opportunity to challenge or support the debtor's proposed path forward. The judge's decision following the hearing will play a critical role in determining the future of the Chapter 11 proceedings. If Barretts Minerals cannot establish that confirmation is reasonably achievable, the court could terminate the bankruptcy case rather than allow it to continue, Law360 reports. About Barretts Minerals Barretts Minerals Inc. current operations are focused on the mining, beneficiating, processing, and sale of industrial talc. It historically supplied a relatively minor percentage of its sales into cosmetic applications. Barretts Minerals' talc is sold to distributors and third-party manufacturers for use in such parties' products, which are then incorporated into downstream products eventually sold to consumers. Barretts Minerals and its affiliates sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Texas Lead Case No. 23-90794) on Oct. 2, 2023. In the petition signed by its chief restructuring officer, David J. Gordon, Barretts Minerals disclosed $50 million to $100 million in assets and $10 million to $50 million in liabilities. Judge David R. Jones oversees the cases. The Debtors tapped Porter Hedges, LLP and Latham& Watkins, LLP as legal counsel; M3 Partners, LP as financial advisor; Jefferies, LLC as investment banker; and DJG Services, LLC as restructuring advisor. David J. Gordon of DJG Services serves as the Debtors' chief restructuring officer. Stretto, Inc. is the claims, noticing and solicitation agent and administrative advisor. The U.S. Trustee for Region 7 appointed an official committee to represent unsecured creditors in the Debtors' Chapter 11 cases. Caplin & Drysdale, Chartered and Province, LLC serve as the committee's legal counsel and financial advisor, respectively. BAUSCH HEALTH: Michael Goettler Exits Board to Lead Knoa as CEO --------------------------------------------------------------- Bausch Health Companies Inc. announced in a regulatory filing that Michael Goettler resigned from the Board of Directors, effective June 30, 2026, in connection with his appointment as President and Chief Executive Officer of Knoa Pharma LLC. "We thank Michael for his valued service and wish him the best in his new role," said John A. Paulson, Chairperson of the Bausch Health Board of Directors. Mr. Goettler's resignation was not the result of any disagreement with the Company on any matter relating to the Company's operations, policies or practices. About Bausch Health Companies Inc. Bausch Health Companies Inc. develops drugs for unmet medical needs in central nervous system disorders, eye health, and gastrointestinal diseases, as well as contact lenses, intraocular lenses, ophthalmic surgical equipment, and aesthetic devices. As of December 31, 2025, the Company had $26.37 billion in total assets, $25.99 billion in total liabilities, and $377 million in total equity. * * * As of February 18, 2026, the credit ratings and outlook from Moody's, Standard & Poor's and Fitch for certain outstanding obligations of the Company were as follows: Moody's assigned a corporate rating of Caa2, a senior secured rating of Caa1, and a senior unsecured rating of Ca, with a Stable outlook. Standard & Poor's rated the Company B- at the corporate level and for senior secured obligations, CCC+ for senior unsecured obligations, and maintained a negative outlook. BEAR MOUNTAIN: Reaches $2.75MM Deal Over Resident Harm Claims ------------------------------------------------------------- Zahida Siddiqi of Skilled Nursing News reports that Bear Mountain Healthcare has reached a $2.75 million settlement over claims that the nursing home operator understaffed 11 Massachusetts facilities, causing resident harm and submitting false claims to the state Medicaid program. The Massachusetts Attorney General's Office said its investigation examined operations from April 2021 through December 2025. According to court documents, company owners knew some facilities were operating below the required staffing threshold but failed to correct the issues. Authorities said inadequate staffing contributed to serious resident problems, including medication mistakes, pressure injuries, unsafe transfers and resident elopements. The settlement requires $1 million to be invested into improving a Bear Mountain-affiliated nursing facility through staffing reviews, corrective measures and independent monitoring. Remaining funds will be paid as restitution to the state, while future Massachusetts nursing home operations involving the company or executives will require three years of oversight. About Bear Mountain Healthcare Bear Mountain Healthcare provides the highest quality healthcare with short-term, long-term, and neurobehavioral rehabilitation. Bear Mountain Healthcare was forced into receivership after its Massachusetts nursing home operations faced financial instability and regulatory scrutiny. Eight facilities were placed under the control of a receiver, with Vantage Care operating the homes during the transition period. The receivership followed allegations that Bear Mountain had fallen behind on key expenses, including facility rent, utilities, payroll and state-related payments. State inspectors later raised concerns about conditions at some facilities managed during the transition, including staffing and resident safety issues. BEELINE HOLDINGS: Acquires Full Ownership of MagicBlocks -------------------------------------------------------- Beeline Holdings, Inc. has announced that it has completed its acquisition of MagicBlocks, the artificial intelligence company whose technology powers Bob, Beeline's proprietary AI agent, and underpins key automation capabilities across the Company's mortgage origination and title operations. The acquisition gives Beeline full ownership and control of the AI technology already embedded across its platform. With MagicBlocks' capabilities fully integrated, the Company expects to accelerate deployment of AI-driven automation across the mortgage origination and title workflow, reduce production costs, and improve the speed and consistency of the borrower experience. MagicBlocks' technology is the foundation for Beeline's chatbot, Bob. This AI chatbot drives an 8% increase in lead-to-lock conversions when he is engaged with customers on the website, through SMS, or in the point-of-sale journey. Following the integration of the acquisition, the MagicBlocks technology will be further integrated throughout Beeline's mortgage origination and title operations to automate key workflows, support internal teams with AI-driven decision making, and create a more scalable operating platform. "MagicBlocks' technology is already working inside our platform -- it powers Bob, and the results are measurable," said Nick Liuzza, Co-Founder and Chief Executive Officer of Beeline. "Full ownership gives us the ability to move faster, integrate deeper, and build on what's already working without constraint. Beeline was designed from the start to be a technology-first mortgage company. This acquisition is consistent with that vision and gives us greater control over how we develop and deploy AI across the business going forward." The Company expects the acquisition to accelerate product innovation while supporting future initiatives across mortgage origination, title services, home equity products, and digital real estate transactions. MagicBlocks will continue to license its platform to other mortgage lenders and financial institutions. "We built MagicBlocks to solve real operational problems primarily in the top of the funnel for mortgage and financial services, and Beeline has already proven that the technology delivers measurable results," said Jay Stockwell, Founder of MagicBlocks. "Being part of Beeline full-time gives us the ability to go deeper and move faster. There is a lot more we can do with this technology across the platform and I'm looking forward to building it." Prior to this acquisition, Beeline owned approximately 48% of MagicBlocks. To acquire the remaining interest, Beeline issued 209,456 shares of common stock at $2.25 per share or well above market on the closing date, representing approximately $471,276 in consideration. The transaction was supported by an independent third-party fairness opinion, which valued MagicBlocks at approximately $1 million. Certain shares granted at inception were retired. As MagicBlocks was a related party investment, the transaction was reviewed and approved by a special committee of Beeline's board of directors. Additional terms of the transaction were not disclosed. About Beeline Holdings Beeline Holdings, Inc. is a technology-driven mortgage and title platform focused on simplifying home financing through digital innovation, artificial intelligence, and automation. The Company provides residential mortgage lending, title services, and home equity solutions designed to improve efficiency and enhance the borrower experience. Boca Raton, Florida-based Salberg & Company, P.A., the Company's auditor since 2024, issued a "going concern" qualification in its report dated March 31, 2026, attached to the Company's Annual Report on Form 10-K for the year ended December 31, 2025, citing that the Company has incurred recurring losses and negative cash flows from operations since its inception, has a significant working capital deficit, and is dependent on debt and equity financing. These matters raise substantial doubt about the Company's ability to continue as a going concern. As of December 31, 2025, the Company had $70.2 million in total assets, $16.6 million in total liabilities, and $53.6 million in total equity. BHUJS INC: Case Summary & 20 Largest Unsecured Creditors -------------------------------------------------------- Debtor: BHUJS Inc. DBA Subway 6541 Ocaso Drive Castle Pines, CO 80108 Business Description: BHUJS Inc., based in Castle Pines, Colorado, operates as a Subway franchisee, with leasehold interests in Subway restaurant locations across the Denver metropolitan area, including Littleton, Arvada, Highlands Ranch, Lakewood and Aurora, Colorado. Chapter 11 Petition Date: July 6, 2026 Court: United States Bankruptcy Court District of Colorado Case No.: 26-14865 Judge: Hon. Joseph G Rosania Jr Debtor's Counsel: Keri L. Riley, Esq. 1660 Lincoln St. Denver, CO 80264 Tel: (303) 832-2400 Email: klr@kutnerlaw.com Total Assets: $270,324 Total Liabilities: $2,102,858 The petition was signed by Amish Shah as 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/NFFTVAA/BHUJS_Inc__cobke-26-14865__0003.0.pdf?mcid=tGE4TAMA A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/M4GATOY/BHUJS_Inc__cobke-26-14865__0001.0.pdf?mcid=tGE4TAMA BLEND COFFEE 1: Gets Final OK to Use Cash Collateral ---------------------------------------------------- The Blend Coffee 1, LLC and its affiliates received final approval from the U.S. Bankruptcy Court for the Middle District of Florida, Tampa Division, to continue using cash collateral. Under the order, the Debtors may use cash collateral to pay court-authorized expenses, including interim compensation for the Subchapter V trustee, agreed adequate protection payments to creditors holding first liens on depreciating furniture, fixtures, and equipment, and ordinary operating expenses outlined in the approved budget, with flexibility of up to 10% for each budget line item. Additional expenditures may be made if approved in writing by the lenders within 72 hours, and the authorization remains effective until further court order. The order requires the Debtors to comply with all obligations imposed on debtors-in-possession under the Bankruptcy Code and court orders. Upon reasonable notice, the lenders must be granted access to the Debtors' business records and premises for inspection. As adequate protection for secured creditors, the order grants replacement liens on post-petition cash collateral with the same validity, priority, and extent as the creditors' prepetition liens. The Debtors are also required to maintain insurance coverage on the collateral in accordance with their loan agreements. The order preserves the rights of parties to seek future modifications to adequate protection or cash collateral restrictions, and the bankruptcy court retains jurisdiction to enforce the terms of the order. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/oUHKk from PacerMonitor.com. About Tegethoff Development LLC Tegethoff Development, LLC is a Midwest-based real estate development company specializing in luxury multifamily, mixed-use, hospitality, and destination developments. Founded and led by Jeff Tegethoff, the company focuses on creating large-scale lifestyle communities and long-term investment properties across Missouri and other Midwestern markets. Tegethoff Development and its affiliates, Tegethoff Development Co., LLC and Pearl Capital Management, LLC, sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Mo. Lead Case No. 26-42401) on June 1, 2026. At the time of the filing, Tegethoff Development reported assets of between $50 million and $100 million and liabilities of between $500 million and $1 billion. Robert E. Eggman, Esq., and Samuel S. Brand, Esq., at Carmody MacDonald P.C. serve as the Debtors' legal counsel. BON MORRO: Amends Mortgage Debt Secured Claim Pay Details --------------------------------------------------------- The Bon Morro, LLC ("Leasehold Owner") and affiliates submitted an Amended Disclosure Statement for Plan of Reorganization dated June 26, 2026. The Plan provides for two alternative transactions: the Sale Transaction or the New Value Transaction. If the Debtors pursue the Sale Transaction, the Debtors will file the Toggle Notice by no later than the Toggle Deadline informing the Bankruptcy Court and the parties in interest that they intend to pursue the Sale Transaction. * If a Toggle Notice is timely filed, the Debtors shall promptly thereafter file proposed bidding procedures for approval by the Bankruptcy Court and retain an investment banker and consummate the Plan by and through the Sale Transaction. Upon the closing of the Sale Transaction, Project Sale Proceeds shall be distributed to the Plan Trust. The Plan Trustee shall distribute the Project Sale Proceeds (i) first, to the holder of the Allowed Mortgage Debt Secured Claim until paid in full, (ii) second, to holders of Allowed General Unsecured Claims until paid in full, and, (iii) third, to the Reorganized Debtors. Other than with respect to a Reopening Event (as defined in the Final CC Stipulation), in the event the Plan is consummated through the Sale Transaction, the holder of the Mezzanine Claim shall receive the greater of: (1) $850,000; and (2) the remaining Project Sale Proceeds after payment in full of the Allowed Mortgage Debt Secured Claim and Allowed General Unsecured Claims, not to exceed $5,000,000 in the aggregate. The Plan Trust shall hold the Plan Trust Assets, including the Project Sale Proceeds, free and clear of all Liens, Claims, and encumbrances, if any, for the benefit of the holders of the General Unsecured Claims as Plan Trust Beneficiaries on a Pro Rata basis. The Plan Trustee shall thereafter be entitled to liquidate or otherwise monetize all of the Plan Trust Assets for the sole benefit of the Plan Trust Beneficiaries on a Pro Rata basis. If the Debtors consummate the Sale Transaction, the Debtors and/or the Plan Trustee shall continue to prosecute the Landlord Litigation and pay all fees and expenses incurred in connection therewith. The Debtors and the Plan Trust (for the benefit of the Plan Trust Beneficiaries) shall each receive a fifty percent share of the Net Landlord Litigation Proceeds, if any. * If a Toggle Notice is not filed, the Debtors shall consummate the Plan by and through the New Value Transaction to select the New Value Provider. In such scenario, prior to or on the Effective Date, the holder of the Mortgage Debt Secured Claim shall receive the Take-Back Mortgage Loans, pursuant to the terms and conditions described in the Take-Back Mortgage Documents. Furthermore, the New Value Provider shall provide the Effective Date Contribution in exchange for 100% of the equity interests in the Reorganized Debtors, the proceeds of which shall be used to fund the go-forward expenses of the Reorganized Debtors, pay the Mezzanine Claim Consideration, and pay the Effective Date GUC Distribution. By and through the Effective Date GUC Distribution and the Deferred Distributions, which constitute Plan Trust Assets that will be assigned to the Plan Trust, the Debtors anticipate that the holders of General Unsecured Claims will receive a total five percent recovery on their respective Allowed Claims, subject to a pro rata increase to the extent the Effective Date Contribution exceeds $6,000,000. The Plan Trust Assets shall be assigned to the Plan Trust free and clear of all Liens, Claims, and encumbrances, if any, for the sole benefit of the Plan Trust Beneficiaries on a Pro Rata basis. The Plan Trustee shall thereafter be entitled to liquidate or otherwise monetize all of the Plan Trust Assets for the sole benefit of the Plan Trust Beneficiaries on a Pro Rata basis. If the Debtors consummate the New Value Transaction, the Landlord Litigation shall be a Retained Cause of Action that is retained by the Reorganized Debtors, who will continue to prosecute the Landlord Litigation and pay all fees and expenses incurred in connection therewith. The Reorganized Debtors and the Plan Trust (for the benefit of the Plan Trust Beneficiaries) shall each receive a fifty share of the Net Landlord Litigation Proceeds, if any. Class 2 consists solely of the Allowed Mortgage Debt Secured Claim. For the avoidance of doubt, any portion of the Allowed Claim held by the Mortgage Debt Holders that exceeds the Mortgage Debt Secured Claim Amount shall constitute a deficiency claim that shall be classified as a Class 4 General Unsecured Claims. On the Effective Date, the Mortgage Debt Secured Claim shall be Allowed under the Plan in the amount of the Mortgage Debt Secured Claim Amount. In full and final satisfaction, compromise, settlement, release, and discharge of the Allowed Mortgage Debt Secured Claim, except to the extent that the Mortgage Debt Agent agrees to different treatment with respect to such Claim, on the Effective Date, or as soon as practicable thereafter, the holder of an Allowed Mortgage Debt Secured Claim shall receive: * in the event the Plan is consummated through the New Value Transaction, the Take-Back Mortgage Loans on the terms and conditions described in the Take-Back Mortgage Documents in an amount equal to the Valuation Ruling Amount, with an interest rate of 6.17% per annum, interest only paid monthly, with a maturity date on the five-year anniversary of the Effective Date and, subject to the determination of the Valuation Ruling Amount, otherwise on terms and conditions substantially similar to the Prepetition Mortgage Credit Agreement; provided that, the Reorganized Debtors shall have the option, within the first two years of the Effective Date, to pursue a Refinancing Transaction; or * in the event the Plan is consummated through the Sale Transaction, its Pro Rata share of the Project Sale Proceeds, solely up to value of its Allowed Mortgage Debt Secured Claim. Like in the prior iteration of the Plan, each General Unsecured Claim in Class 4, except to the extent that any holder of a General Unsecured Claims agrees to different treatment with respect to such Claim, on the Effective Date, or as soon as practicable thereafter, each holder of an Allowed General Unsecured Claim shall receive: * in the event the Plan is consummated through the New Value Transaction, its Pro Rata share of the Plan Trust Assets, including the Effective Date GUC Distribution, the Deferred Distributions and fifty percent of the Net Landlord Litigation Proceeds; or * in the event the Plan is consummated through the Sale Transaction, its Pro Rata share of the Plan Trust Assets, including the Project Sale Proceeds after payment in full of the Mortgage Debt Secured Claim (if any), and fifty percent of the Net Landlord Litigation Proceeds. On the Effective Date, the Debtors shall contribute all Cash on hand towards the payment of Administrative Claims (including Fee Claims), Other Secured Claims and Priority Tax Claims in accordance with the priority scheme of the Bankruptcy Code. In the event the Plan is consummated through a New Value Transaction, the Debtors shall utilize the Effective Date Contribution for (i) payment of the Administrative Claims, Other Secured Claims, and Priority Tax Claims, (ii) the go-forward operational expenses of the Reorganized Debtors (each of the foregoing, to the extent not paid in full by the Debtors' Cash on hand), (iii) the Mezzanine Claim Consideration and (iv) the Effective Date GUC Distribution, which, for the avoidance of doubt, shall be paid to the holders of the Allowed General Unsecured Claims on a Pro Rata basis. The Plan provides for the Effective Date Contribution to be provided by the New Value Provider, who shall be one or more affiliates of DMP Scape, or one or more third parties that provide the highest and best offer to make an equity capital contribution to the Reorganized Debtors. As of the date hereof, an affiliate of DMP Scape has proposed providing a $6 million Effective Date Contribution (the "Initial Bid"). The Initial Bid shall be subject to any higher and better bids submitted by other bidders. The opportunity to submit competing bids shall be open to all third parties, and this Disclosure Statement shall be delivered to all creditors, equity holders, and other parties-in-interest that have expressed an interest in providing the Effective Date Contribution in part to solicit bids to provide the Effective Date Contribution. A full-text copy of the Amended Disclosure Statement dated June 26, 2026 is available at https://urlcurt.com/u?l=Ws9P07 from PacerMonitor.com at no charge. Counsel to the Debtors: Douglas R. Gooding, Esq. M. Hampton Foushee, Esq. CHOATE HALL & STEWART LLP Two International Place Boston, MA 02110 Telephone: (617) 248-5000 E-mail: dgooding@choate.com hfoushee@choate.com About The Bon Morro The Bon Morro, LLC and its debtor affiliates, a Boston, MA-based single-asset real estate debtor holding the ground lease to "The Bon," a 451-unit mixed-use project at 1260 Boylston Street, filed for Chapter 11 protection on Nov. 2, 2025 in the U.S. Bankruptcy Court for the District of Massachusetts (Bankr. D. Mass. Case No. 25-12379). At the time of the filing, the Company reported $100 million to $500 million in both assets and liabilities. Judge Christopher J. Panos oversees the case. Choate Hall & Stewart LLP is the Debtors' legal counsel. BONNIE MAULDIN: Todd Hennings Named Subchapter V Trustee -------------------------------------------------------- The Acting U.S. Trustee for Region 21 appointed Todd Hennings, Esq., at Macey, Wilensky & Hennings, LLP as Subchapter V trustee for The Bonnie Mauldin Group, LLC. Mr. Hennings will be paid an hourly fee of $450 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Hennings declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Todd E. Hennings, Esq. Macey, Wilensky & Hennings, LLP 5500 Interstate North Parkway, Suite 435 Sandy Springs, GA 30328 Phone: (404) 584-1222 Email: info@joneswalden.com About The Bonnie Mauldin Group LLC The Bonnie Mauldin Group, LLC is a small-business digital marketing agency. Bonnie Mauldin Group sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ga. Case No. 26-57807) on June 15, 2026, with up to $500,000 in assets and up to $10 million in liabilities. Bonnie Mauldin, owner of Bonnie Mauldin Group, signed the petition. Judge Lisa Ritchey Craig oversees the case. Michael Pugh, Esq., at Thompson, O'Brien, Kappler & Nasuti, P.C., represents the Debtor as legal counsel. BQB AUTO: Starts Chapter 11 Bankruptcy in New York -------------------------------------------------- On June 18, 2026, BQB Auto Outlet Inc. filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Eastern District of New York. According to court filings, the Debtor reports between $100,000 and $500,000 in liabilities, estimated assets of $0 to $50,000, and 1–49 creditors. A meeting of creditors filed by the Office of the United States Trustee under Section 341(a) to be held on July 20, 2026 at 01:00 PM at USA Toll-Free (888) 330-1716, USA Caller Paid/International Toll (713) 353-7024, Access Code 6980165. Chapter 11 Small Business Plan and Disclosure Statement are both due by December 15, 2026. About BQB Auto Outlet Inc. BQB Auto Outlet Inc., an Ozone Park, New York-based used car dealership, specializes in the sale of pre-owned vehicles and livery vehicle financing. As of June 2026, the company remained active, continuing to market vehicle inventory from its Queens location. BQB Auto Outlet Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-42973) on June 18, 2026. In its petition, the Debtor reported estimated assets of $0 to $50,000 and estimated liabilities of $100,000 to $500,000. Honorable Bankruptcy Judge Jil Mazer-Marino handles the case. BRASKEM S.A.: Chapter 15 Case Summary ------------------------------------- Lead Debtor: Braskem S.A. Rua Eteno No. 1.561, Polo Industrial de Camacari Municipio de Camacari, Estado da Bahia, CEP 42816-200 Brazil Business Description: Braskem S.A. is a Brazilian publicly held chemical and petrochemical company that produces thermoplastic resins, including PE, PP, and PVC, as well as basic chemical inputs such as ethylene, propylene, butadiene, aromatics, and solvents. Founded in 2002, the company serves as a central strategic entity within Grupo Braskem and operates industrial units in Brazil, the United States, Germany, and Mexico. Chapter 15 Petition Date: June 26, 2026 Court: United States Bankruptcy Court Southern District of New York Six affiliates that concurrently filed voluntary petitions for relief under Chapter 15 of the Bankruptcy Code: Debtor Case No. ------ -------- Braskem S.A. (Lead Case) 26-11522 Braskem Netherlands B.V. 26-11523 Braskem Netherlands Inc. B.V. 26-11524 Braskem Netherlands Finance B.V. 26-11526 Braskem Trading & Shipping B.V. 26-11527 Braskem America Finance Company 26-11528 Judge: Hon. Michael E Wiles Foreign Representative: Antonio Reinaldo Rabelo Filho R Barao da Torre, 550, Ap 201, Ipanema Rio de Janeiro, RJ Brazil Foreign Proceeding: Brazilian Proceeding Foreign Representative's Counsel: Thomas S. Kessler, Esq. Richard J. Cooper David Z. Schwartz CLEARY GOTTLIEB STEEN & HAMILTON LLP One Liberty Plaza New York, New York 10006 Tel: 212-225-2000 Fax: 212-225-3999 E-mail: tkessler@cgsh.com Estimated Assets: Unknown Estimated Debt: Unknown A full-text copy of the Lead Debtor's Chapter 15 petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/LCQPPGY/Braskem_SA_and_Antonio_Reinaldo__nysbke-26-11522__0001.0.pdf?mcid=tGE4TAMA BUZZFEED INC: Ends London Lease, Repays $7.5M Debt -------------------------------------------------- BuzzFeed, Inc. terminated a London office lease early and repaid $7.5 million of debt under its credit agreement, according to a Form 8-K filing with the Securities and Exchange Commission. The company said BuzzFeed UK Limited, its wholly-owned subsidiary, ended the London lease effective June 23, 2026, instead of its scheduled October 2029 termination date, as part of ongoing efforts to reduce operating expenses. BuzzFeed paid an early termination fee of about GBP 500,000, or about $700,000, and waived an existing security deposit of about GBP 1.3 million, or about $1.7 million. The company said it was released from lease liabilities, covenants and obligations other than certain service charges that have not yet been billed. The company expects savings over the original contractual term of the lease of about GBP 2.2 million, or about $2.9 million, in rent payments and about GBP 1.4 million, or about $1.8 million, in operating expenses. BuzzFeed also repaid $7.5 million of principal outstanding under its credit agreement on June 26, 2026, using proceeds from cash collateral released after termination of a letter of credit previously held for its former corporate headquarters landlord. After the repayment, $25 million of principal remained outstanding under the credit agreement. About BuzzFeed, Inc. BuzzFeed, Inc. is a New York-based digital media company with brands including BuzzFeed, HuffPost and Tasty. It operates across pop culture, entertainment, shopping, food and news, and drives conversation and consumer action through its brands. BuzzFeed monetizes its content through digital advertising products and services, first-party data offerings, contextual marketing solutions and other revenue streams. In an audit report dated March 16, 2026, Deloitte & Touche LLP included a going-concern paragraph, citing BuzzFeed's recurring losses, use of cash flows from operations, insufficient liquidity to fund obligations as they become due over the next year beyond the issuance date, and uncertainty associated with regaining compliance with Nasdaq bid price requirements. The conditions and events raised substantial doubt about the company's ability to continue as a going concern. As of March 31, 2026, BuzzFeed reported total assets of $169.11 million, total liabilities of $132.35 million and stockholders' equity of $36.76 million. CAMPBELL 215: Case Summary & Five Unsecured Creditors ----------------------------------------------------- Debtor: Campbell 215, LLC 217 E. Campbell St Edmond, OK 73034 Business Description: Campbell 215, LLC, owns and operates The Campbell, an apartment community in Edmond, Oklahoma. The property offers apartments for rent with floor plan options and resident amenities including dedicated parking, 24/7 maintenance, a mail/package center, valet trash, onsite staff, and an onsite restaurant and coffee shop. Apartment features listed by the property include vinyl plank flooring, stainless appliances, washer/dryer, oversized windows, tiled showers, quartz countertops, and French-door refrigerators. Chapter 11 Petition Date: July 6, 2026 Court: United States Bankruptcy Court Western District of Oklahoma Case No.: 26-12261 Judge: Hon. Janice D Loyd Debtor's Counsel: Robert Newark, Esq. NEWARK LAW OFFICES 1341 W. Mockingbird Ln, Suite 600W Dallas, TX 75247 Tel: (866) 230-7236 E-mail: robert@newarkfirm.com Estimated Assets: $10 million to $50 million Estimated Liabilities: $10 million to $50 million The petition was signed by Brandon Rader as member. A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/LVPL6CQ/Campbell_215_LLC__okwbke-26-12261__0001.0.pdf?mcid=tGE4TAMA List of Debtor's Five Unsecured Creditors: Entity Nature of Claim Claim Amount 1. CCEHG 2024 Campbell, LLC $340,135 c/o Jason A. Dunn, Perri Dunn PLLC 100 N. Broadway Ave, Suite 3280 73102 2. OG&E $0 3. Oklahoma County $140,484 4. Oklahoma Natural Gas $0 5. Oklahoma Tax Commission $0 CHAFIN AGENCY: Seeks Subchapter V Bankruptcy in Texas ----------------------------------------------------- On July 1, 2026, The Chafin Agency, LLC, filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Western District of Texas. According to court filings, the Debtor reports between $1 million and $10 million in liabilities, $500,000 and $1 million in assets, and 1-49 creditors. Chapter 11 Small Business Subchapter V Plan due by September 29, 2026. About The Chafin Agency, LLC The Chafin Agency, LLC, a San Antonio, Texas-based insurance agency and brokerage, operates as an Allstate-affiliated insurance agency serving customers in Spring Branch, Texas. As of June 2026, the company maintained active licensing with the Texas Department of Insurance. The Chapter 11 filing follows financial challenges that included the termination of its elector plan in April 2026 and the management of an approximately $1 million SBA loan. The Chafin Agency, LLC sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-51806) on July 1, 2026. In its petition, the Debtor reports estimated assets of $500,000 to $1 million and estimated liabilities of $1 million to $10 million. Honorable Bankruptcy Judge Aubrey L. Thomas handles the case. The Debtor is represented by Ronald Smeberg, Esq., of The Smeberg Law Firm. CMS DESIGN: Eric Michael Huebscher Named Subchapter V Trustee ------------------------------------------------------------- The U.S. Trustee for Region 2 appointed Eric Huebscher of Huebscher & Co. as Subchapter V trustee for CMS Design Group Inc. Mr. Huebscher will be paid an hourly fee of $450 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Huebscher declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Eric Huebscher Huebscher & Co. 301 E 87th St. - 20E New York, NY 10128 Phone: 917-763-3891 Email: ehuebscher@huebscherconsulting.com About CMS Design Group Inc. CMS Design Group Inc. is a New York, New York-based fashion jewelry design and wholesale company serving the fashion jewelry industry. Historically, the company operated a 42,000-square-foot facility in Huntington, New York, and employed approximately 145 people as of May 2024. CMS Design Group sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-11535) on June 29, 2026. In its petition, the Debtor reported assets of up to $50,000 and estimated liabilities of $500,000 to $1 million. Honorable Michael E. Wiles is overseeing the case. The Debtor is represented by Avrum J. Rosen, Esq., and Daniel LeBrun, Esq., at Rosen, Tsionis & Pizzo, PLLC. CONVERTIBLE BUILDERS: Seeks Chapter 11 Bankruptcy in Florida ------------------------------------------------------------ On June 19, 2026, Convertible Builders, LLC, filed for Chapter 11 Small Business protection in the U.S. Bankruptcy Court for the Middle District of Florida. According to court filings, the Debtor reports between $500,000 and $1 million in liabilities owed to 1–49 creditors. The bankruptcy filing follows litigation arising from a breach of contract lawsuit filed by Herold Precision Metals, LLC in February 2026. A meeting of creditors under Section 341(a) to be held on July 29, 2026 at 01:00 PM. U.S. Trustee (Jax) will hold the meeting telephonically. Call in Number: 888-330-1716. Passcode: 1501240# About Convertible Builders, LLC Convertible Builders, LLC, a High Springs, Florida-based motor vehicle body manufacturer, specializes in custom convertible vehicle conversions. As of 2026, the company was producing sanctioned Dodge conversion projects while expanding into 2025 Dodge Charger convertible conversions. Historically, the company operated under the Drop Top Customs brand and became known for transforming modern muscle cars, including the Chevrolet Camaro, into convertibles. Convertible Builders, LLC sought relief under Chapter 11 Small Business of the U.S. Bankruptcy Code (Bankr. Case No. 26-02771) on June 19, 2026. In its petition, the Debtor reports estimated assets of less than $50,000 and estimated liabilities of $500,000 to $1 million. The case is pending before the U.S. Bankruptcy Court for the Middle District of Florida. The Debtor is represented by Anthony W. Chauncey, Esq., of The Chauncey Law Firm, P.A. CRESCENT CITY: Voluntary Chapter 11 Case Summary ------------------------------------------------ Debtor: Crescent City Collections, LLC 777 Brickell Avenue Suite 500 Miami, FL 33131 Business Description: Crescent City Collections, LLC is a single- asset real estate company that owns and leases real property, with its assets located at 3520 18th Street in Metairie, Louisiana. Chapter 11 Petition Date: July 2, 2026 Court: United States Bankruptcy Court Southern District of Florida Case No.: 26-18758 Judge: Hon. Robert A Mark Debtor's Counsel: Adam I. Skolnik, Esq. LAW OFFICE OF ADAM I. SKOLNIK, PA 1761 West Hillsboro Boulevard, Suite 207 Deerfield Beach, FL 33442 Tel: 561-265-1120 E-mail: askolnik@skolniklawpa.com Estimated Assets: $0 to $50,000 Estimated Liabilities: $1 million to $10 million The petition was signed by Joshua Bruno as authorized agent. The Debtor did not include a list of its 20 largest unsecured creditors with the petition A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/72IOHUI/Crescent_City_Collections_LLC__flsbke-26-18758__0001.0.pdf?mcid=tGE4TAMA D 5030 WESTMINSTER: Seeks Court OK to Hire Offit Kurman as Counsel ------------------------------------------------------------------ D 5030 Westminster, LLC seeks approval from the U.S. Bankruptcy Court for the Eastern District of Texas to hire Offit Kurman as counsel. The firm will provide these services: (a) serve as counsel of record in all legal aspects of this Bankruptcy Case, including without limitation, the prosecution of actions on behalf of the company; (b) prepare pleadings in connection with this Bankruptcy Case; and (c) appear before the Court to represent the company's interests in connection with this Bankruptcy Case. Offit Kurman's standard hourly rates are $640 to $695 for principals, $440 to $525 for associates and counsel, and $230 for paraprofessionals. Prior to the petition date, the firm received a $25,000 retainer. As of the petition date, it held $14,726.13 in its IOLTA trust account after partial drawdowns for fees and expenses. Offit Kurman 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: Frances A. Smith, Esq. OFFIT KURMAN 700 North Pearl Street, Suite 1610 Dallas, TX 75201 Telephone: (214) 377-7879 Facsimile: (214) 377-9409 E-mail: frances.smith@offitkurman.com About D 5030 Westminster, LLC D 5030 Westminster, LLC is a limited liability company. D 5030 Westminster, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-42143) on June 22, 2026. In its petition, the debtor reported estimated assets between $1 million and $10 million and estimated liabilities between $10 million and $50 million. The debtor is represented by Frances A. Smith, Esq. of Offit Kurman. DARRYL CULBRETH: Court Dismisses Bankruptcy Case ------------------------------------------------ Judge Grace E. Robson of the U.S. Bankruptcy Court for the Middle District of Florida dismissed the bankruptcy case of Darryl Culbreth and granted his secured creditors relief from the automatic stay. The Court also denied the Debtor's motions seeking to value investment properties and for reconsideration of the order terminating the automatic stay. In September 2006, the Debtor executed and delivered a promissory note and mortgage related to real property located at 1615 White Avenue, Orlando, FL 32806. Then, in February 2008, the Debtor and his wife, Michelle Culbreth, executed and delivered a promissory note and mortgage related to real property located at 744 Maloney Lane, Orlando, FL 32825. A complaint to foreclose the White Property was filed in June 2016, and a complaint to foreclose the Maloney Property was filed in December 2016. After the filing of these foreclosure proceedings, several bankruptcy cases were filed by the Debtor and Michelle that were ultimately dismissed. In January 2018, the initial foreclosure case as to the White Property was voluntarily dismissed. In the 2018 Case, the Debtor and Michelle provided for the surrender of the Properties in their amended plan. That amended plan was confirmed in January 2019. Less than nine months after the amended plan was confirmed, Debtor and Michelle voluntarily dismissed the 2018 Case. A second foreclosure case as to the White Property was commenced in January 2020. Then, in April 2024, a consent final judgment was entered in the foreclosure case related to the Maloney Property that scheduled a foreclosure sale for July 11, 2024. In the 2024 Case, the Debtor obtained an agreed order determining that the value of U.S. Bank's secured claim as to the Maloney Property was $333,000. Additionally, an agreed order was entered determining that the value of Selene Finance's secured claim as to the White Property was $342,000. Less than one year after it was filed, the 2024 Case was dismissed for the Debtor's failure to maintain timely plan payments. Later, in December 2025, almost six years after the foreclosure case was filed, a final judgment was entered scheduling a foreclosure sale of the White Property on January 26, 2026. A foreclosure sale of the Maloney Property was rescheduled for January 21, 2026. The day before the January 21 foreclosure sale of the Maloney Property, the Debtor filed the current Chapter 11 bankruptcy case, which canceled both foreclosure sales. Secured Creditors filed the Motions for Relief from Stay in this case. Secured Creditors requested prospective relief from the automatic stay to be able to proceed against the Properties in rem in the event of any future bankruptcy filing. Their argument was prospective in rem relief was appropriate under Sec. 362(d)(4) of the Bankruptcy Code because the Debtor's serial filings constitute a scheme to delay, hinder, or defraud creditors. Meanwhile, the Debtor sought to stay Secured Creditors' actions and value the Properties as part of this case. In his Motions to Determine Secured Status, the Debtor asserted the fair market value of the Maloney Property was $281,100 and the fair market value of the White Property was $260,000. The Debtor's request to extend the automatic stay was based on alleged increased income that could fund a plan. The Court granted the request to extend the automatic stay on an interim basis, conditioned on payment of adequate protection to the Secured Creditors. U.S. Bank filed an Affidavit of Default and the Court terminated the automatic stay as to the Maloney Property. The Debtor asked the Court to reconsider termination of the automatic stay, arguing he made the payment, but it was returned as undeliverable because he was provided the wrong payment address. U.S. Bank asserts the Debtor is bound by his surrender of the Maloney Property in the 2018 Case because the Court confirmed that plan. The Court finds that filing this case shortly after the dismissal of the 2024 Case and requesting to value the Properties at an amount much lower than agreed to in the 2024 Case demonstrates the Debtor's lack of good faith in dealing with the Secured Creditors. This finding is further supported by the Debtor's arguments that the Properties were not diminishing in value and that he made improvements to the Properties. The Debtor argued his plan would outline how the income from rents and other sources would be sufficient to pay the Secured Creditors in full based on the value of the Properties. However, according to the Court, the Debtor's Plan provides conflicting valuations as to Selene Finance's claim. Specifically, Article II of the Plan states that the amount of Selene Finance's claim is $435,000, but Article V states the amount of the claim is $281,000. Further, the Plan proposes to make monthly payments over a period of 180 months based on the Debtor's valuations of the Properties. This proposed treatment is inconsistent with the Debtor's prior assertion that he would pay the Secured Creditors in full over the life of the three-year Plan and demonstrates the Plan was not proposed in good faith. The Court therefore agrees with Selene Finance's argument that the treatment of its claim is vague and speculative. In addition, the Plan proposes to pay the claim of creditor Tony Singletary over a 60-month period. The Court says the Singletary claim is secured not by the Debtor's assets but by the assets of 10 Ocean Breeze LLC, a company owned by the Debtor. The Debtor provides no explanation for why it is acceptable for this proposed treatment to be included as part of the Debtor's Plan, nor why it would be appropriate to pay this claim over a 60-month period while the claims of the Secured Creditors are to be paid over a 180-month period. The long history of the Debtor's unsuccessful bankruptcy cases affecting the Secured Creditors' ability to enforce their in rem rights lends substantial support to the Court's conclusion that the Debtor is using the bankruptcy system to hinder and/or delay the Secured Creditors' efforts to pursue their rights. Based on the record and the totality of the circumstances as a whole, the Court finds that it was appropriate to grant prospective relief to the Secured Creditors and to deny the Motions to Determine Secured Status and the Reconsideration Motion as moot based upon the granting of prospective stay relief. A copy of the Court's Memorandum Decision dated July 2, 2026, is available at https://urlcurt.com/u?l=m4ccho from Pacermonitor.com. Darryl Culbreth filed for Chapter 11 bankruptcy protection (Bankr. M.D. Fla. Case No. 26-00360) on January 20, 2026, listing under $1 million in both assets and liabilities. The Debtor represented by Arvind Mahendru, Esq. DEALER SOURCE: Gets Interim OK to Use Cash Collateral ----------------------------------------------------- Dealer Source ATX, LLC received interim approval from the U.S. Bankruptcy Court for the Western District of Texas, Austin Division, to use cash collateral. Under the interim order, the Debtor is authorized to use cash collateral to fund operations based on a court-approved budget. The Debtor may use cash collateral to pay up to 110% of each individual expense so long as total spending during the budget period does not exceed 110% of the overall budget. The Debtor reported $36,118 in cash on hand and $42,034 in accounts receivable, resulting in total cash collateral of $78,152. A search of the Texas Secretary of State's UCC records revealed three active secured creditors asserting security interests in the Debtor's cash collateral and other assets. The first-position secured lender is Frost Bank whose financing statement filed in February 2022 grants it a security interest in all of the Debtor's accounts. The Debtor also maintains its banking relationship with Frost and owes the bank approximately $100,000. Because the value of the available cash collateral is less than the debt owed, the Debtor believes Frost is undersecured. BayFirst National Bank holds the second-priority security interest covering substantially all of the Debtor's personal property. BayFirst's loan is backed by the U.S. Small Business Administration and the Debtor owes approximately $279,381. Given the limited value of the available cash collateral, the Debtor believes BayFirst is wholly undersecured. The third secured lender, Newtek Bank, asserts a blanket lien on all of the Debtor's assets. This obligation is also SBA-backed, and the Debtor owes approximately $227,705. The Debtor similarly contends that Newtek is wholly undersecured because the value of the cash collateral is substantially less than the outstanding indebtedness. As adequate protection, secured creditors will be granted replacement liens on all post-petition property of the Debtor including cash collateral, with the same priority and extent as their pre-petition liens. These replacement liens do not apply to Chapter 5 causes of action and are subject and subordinate to a fee carveout. The order is available at http://bankrupt.com/misc/DEALERSOURCE_ICCOrder43.pdf The court scheduled the next hearing for July 27 and set a July 24 deadline for filing objections. Dealer Source ATX traces its origins to an automotive aftermarket installation business established in San Antonio in 2005 by Diana and Rick Braschler under Dealer Source Ltd. The owners expanded into the Austin market in 2009, and Dealer Source ATX LLC was organized as a Texas limited liability company on December 20, 2019, to operate the Austin location independently. Following the Braschlers' divorce in 2021, Rick Braschler retained ownership of the San Antonio business while Diana Braschler became the sole owner of the Austin operation. Operating under the trade name Auto Enhancements, the Debtor specializes in aftermarket automotive products and installation services, including window tinting, audio systems, suspension upgrades, upholstery, and other vehicle enhancements. The Debtor attributes its financial distress primarily to deteriorating market conditions that caused a steady decline in revenues over several years. Gross receipts fell from approximately $1.6 million in 2023 to $1.2 million in 2024, and further declined to $1.1 million in 2025. The revenue contraction forced the company to rely on additional borrowing, but it ultimately became unable to service its growing debt obligations. About Dealer Source ATX LLC Dealer Source ATX LLC specializes in aftermarket automotive products and installation services, including window tinting, audio systems, suspension upgrades, upholstery, and other vehicle enhancements. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Tex. Case No. 26-11176-smr) on June 23, 2026. In the petition signed by Diana R Braschler, owner, the Debtor disclosed up to $500,000 in assets and up to $1 million in liabilities. Judge Shad M. Robinson oversees the case. Robert C Lane, Esq., at The Lane Law Firm, represents the Debtor as legal counsel. DENTON COUNTY: Unsecureds to Get $300 per Month over 5 Years ------------------------------------------------------------ Denton County Brewing Company filed with the U.S. Bankruptcy Court for the Eastern District of Texas a Plan of Reorganization dated June 26, 2026. The Debtor is a locally-owned, independent craft brewery and taproom located at 200 E. McKinney Street in downtown Denton, Texas, operating as Denton County Brewing Company LLC (dba DCBC and Denton County Brewing Co.). The Debtor produces beer on-site and operates a taproom that serves its own beers alongside guest taps, wine, cider, sake, and kombucha. The primary cause for the filing of this bankruptcy case was a lack of cash flow attributable to declining sales and rising operating costs. The Plan provides for a reorganization and restructuring of the Debtor's financial obligations. The Plan provides for a distribution to Creditors in accordance with the terms of the Plan from the Debtor over the course of five years from the Debtor's continued business operations. Class 3 consists of Non-priority unsecured Claims. Each holder of an Allowed Unsecured Claim in Class 3 shall be paid by Reorganized Debtor from an unsecured creditor pool, which pool shall be funded at the rate of $300.00 per month commencing the first full month after the Effective Date. Payments from the unsecured creditor pool shall be paid quarterly, for a period not to exceed five years (20 quarterly payments) and the first quarterly payment will be due on the twentieth day of each complete post-petition quarter. The Debtor estimates the aggregate of all Allowed Class 3 Claims is approximately $463,676.16 based upon Debtor's review of the Court's claim register, Debtor's bankruptcy schedules, and anticipated deficiency claims and Claim objections. Class 4 consists of the holders of Allowed Interests in the Debtor. The holder of an Allowed Class 4 Interest shall retain their interests in the Reorganized Debtor. The Debtor proposes to implement and consummate this Plan through the means contemplated by Sections 1123 and 1145(a) of the Bankruptcy Code. From and after the Effective Date, in accordance with the terms of this Plan and the Confirmation Order, the Reorganized Debtor shall perform all obligations under all executory contracts and unexpired leases assumed in accordance with Article 6 of this Plan. A full-text copy of the Plan of Reorganization dated June 26, 2026 is available at https://urlcurt.com/u?l=XQtUnj from PacerMonitor.com at no charge. Counsel to the Debtor: Robert T. DeMarco, Esq. Michael S. Mitchell, Esq. DeMarco Mitchell, PLLC 12770 Coit Road, Suite 850 Dallas, TX 75251 Telephone: (972) 991-5591 Facsimile: (972) 346-6791 E-mail: robert@demarcomitchell.com mike@demarcomitchell.com About Denton County Brewing Company Denton County Brewing Company is a locally-owned, independent craft brewery and taproom located at 200 E. McKinney Street in downtown Denton, Texas. The Debtor filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. E.D. Tex. Case No. 26-41148) on April 3, 2026, listing $50,001 to $100,000 in both assets and $500,001 to $1 million in liabilities. Robert DeMarco, III, Esq. at DeMarco Mitchell, PLLC, serves as the Debtor's counsel. DESERT ROSE: Voluntary Chapter 11 Case Summary ---------------------------------------------- Debtor: Desert Rose Holdings Inc. 889 Main Street Farmingdale, NY 11735 Business Description: Desert Rose Holdings Inc. is a Farmingdale, New York-based residential real estate lessor associated with a multifamily property at 232A Putnam Avenue in Brooklyn. Chapter 11 Petition Date: July 2, 2026 Court: United States Bankruptcy Court Eastern District of New York Case No.: 26-43247 Judge: Hon. Elizabeth S. Stong Debtor's Counsel: Richard S. Feinsilver, Esq. RICHARD S. FEINSILVER, ESQ. 1400 Old Country Road, Suite 315 Westbury, NY 11590 Tel: 516-873-6330 Fax: 516-873-6183 E-mail: feinlawny@yahoo.com Total Assets: $2,950,000 Total Liabilities: $2,092,500 The petition was signed by Ronald B Losner as president. The Debtor has confirmed in the petition that it has no unsecured creditors. A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/YP6T2PI/Desert_Rose_Holdings_Inc__nyebke-26-43247__0001.0.pdf?mcid=tGE4TAMA ECI PHARMACEUTICALS: Sale Order, Plan Confirmation Upheld --------------------------------------------------------- In the appeal styled ACUTE, INC., Plaintiff-Appellant, versus ECI PHARMACEUTICALS, LLC, Defendant-Appellee, No. 25-12829 (11th Cir.), Judges Jill A. Pryor, Kevin Newsom, and Elizabeth Branch of the U.S. Court of Appeals for the Eleventh Circuit affirmed the decision of the U.S. District Court for the Southern District of Florida that denied Acute, Inc.'s motion for reconsideration of the sale order and confirmation order in the bankruptcy case of ECI Pharmaceuticals LLC. This case involves consolidated appeals from two actions taken by the bankruptcy court during the bankruptcy of ECI. First, the court issued a sale order, which authorized ECI to sell virtually all of its assets to Acute, Inc. ECI and Acute had previously executed an asset purchase agreement, which set out the terms of the sale. After the court issued the sale order, Acute moved for reconsideration, which the court denied. Second, the bankruptcy court confirmed a liquidation plan proposed by ECI and one of its affiliates. Acute appealed the sale order (together with the denial of Acute's motion for reconsideration) and the confirmation order to the district court, which, after consolidating the appeals, dismissed both. Acute then filed a motion for reconsideration of the confirmation-order dismissal, which the district court denied. In its initial brief, Acute lays out five issues related to the sale order. But it provides no “further argument or discussion” on these topics. As a result, Acute has abandoned its challenges to the sale order and the denial of its motion for reconsideration, the panel finds. According to the panel, Acute forfeited its objection to the plan by failing to raise it before the bankruptcy court, and no exceptional circumstance justifies reviving its forfeited challenge. The panel holds, "Acute has abandoned its challenge to the sale order and the district court's denial of its sale-order motion for reconsideration. And the district court properly dismissed Acute's appeal of the confirmation order and denied its related motion for reconsideration." A copy of the Court's Opinion dated July 7, 2026, is available at http://urlcurt.com/u?l=6kVflV About ECI Pharmaceuticals ECI Pharmaceuticals LLC is a specialty generic and branded pharmaceutical manufacturing and marketing company specializing in the manufacturing of non-sterile, solid oral dose products. The Debtor's business premises are located at 5311 NW 35th Terrace, Fort Lauderdale, Florida 33309. ECI Pharmaceuticals, LLC and BioRamo, LLC filed their voluntary petitions for relief under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Fla. Lead Case No. 24-14430) on May 3, 2024, listing up to $500,000 in assets and up to $10 million in liabilities. The case is jointly administered in Case No. 24-14430. Judge Scott M. Grossman oversees the cases. Aaron A. Wernick, Esq., at Wernick Law, PLLC serves as the Debtors' counsel. EG GROUP: S&P Places 'B' Issuer Credit Rating, On Watch Positive ---------------------------------------------------------------- S&P Global Ratings placed all its ratings on U.S.-based convenience and fuel retailer EG Group Ltd., including the 'B' issuer credit rating, on CreditWatch with positive implications. S&P plans to resolve the CreditWatch when EG executes the IPO and upon further review of its financial policies, ownership, expected leverage, and overall competitive position following the streamlining of its operating footprint. EG Group Ltd.'s wholly owned subsidiary, Cumberland Farms Ltd., publicly filed an F-1 on July 2, 2026, announcing its intention to launch an IPO. The company expects to use the net proceeds to repay debt and for general corporate purposes. The controlling shareholder financing that S&P considers debt was also agreed to be converted to common equity. EG also recently received proceeds from the sale of its Australian operations and completed the redemption of its $725 million senior secured notes due 2028. S&P expects the planned debt repayment and conversion of shareholder financing will materially reduce S&P Global Ratings-adjusted debt and improve credit metrics. The CreditWatch reflects an expectation for materially reduced adjusted leverage pending a successful IPO. Although the exact timing and size of the IPO are unknown, EG has outlined plans to use all the net proceeds to repay debt outstanding under its $2.4 billion term loan and EUR2.3 billion term loan facilities due 2031. In addition, the company's shareholder financing that we include in our adjusted debt calculation will be converted to common equity with the IPO. S&P expects the debt repayment and conversion of the shareholder financing will materially reduce adjusted debt and improve its credit metrics. IPO proceeds will likely prioritize debt repayment to bolster EG's balance sheet as it rebrands as Cumberland Farms. S&P said, "At the same time, we expect management to balance deleveraging with targeted capital expenditure for store modernization and food service expansion, though the credit impact remains secondary to deleveraging. An upgrade would be contingent upon the realized scale of debt reduction as well as an assessment of the company's financial policies as a publicly traded entity, including the influence of its private equity sponsor. Our review will also consider the narrowing of its operations following divestitures of stores in locations such as Italy and Australia and what the impact of a smaller market opportunity and less diversity could have on its competitive position." S&P said, "The CreditWatch positive placement indicates the potential that we could raise the rating one notch as we gain certainty around the timing and success of the IPO, as well as the amount of proceeds it will generate and use toward debt repayment. We expect to resolve the CreditWatch once EG has completed the IPO, we learn the final amount of the offering, and it has finalized repayment of its debt." EL DORADO: Court Okays $101,700 Fee for CR3 Partners ---------------------------------------------------- Judge Jamie A. Wilson of the U.S. Bankruptcy Court for the Southern District of Mississippi granted El Dorado Gas & Oil, Inc.'s sixth interim application for compensation and reimbursement of necessary expenses for CR3 Partners, LLC, as financial advisor to the Chapter 11 Trustee, Dawn Ragan. The request covers the period from on or about January 1, 2026, through and including April 30, 2026, and is for the sum of $100,118.50 in compensations and expenses of $1,627.70 for a total award request of $101,746.20. CR3 has filed four fee statements during this period and has been paid fees subject to the 20% holdback totaling $80,094.80 plus expenses of $418.70. It is currently owed the 20% holdback amount of $20,023.70 plus additional unpaid expenses of $1,209.00. The Court finds CR3, as financial advisor, is entitled to an administrative expense for interim compensation and expenses in the total amount of $101,746.20, and the Chapter 11 trustee should be authorized to pay the 20% holdback amount of $20,023.70. According to the Court, the services rendered to the Chapter 11 trustee by CR3, as financial advisor, represent substantial services. The services rendered and expenses incurred benefitted the estates and the trustee. A copy of the Court's Order dated July 7, 2026, is available at https://urlcurt.com/u?l=uRDNPb from PacerMonitor.com. About El Dorado Gas & Oil Inc. and Hugoton Operating Company Hugoton and El Dorado are both Arkansas corporations engaged in the exploration, production, and development of crude oil and natural gas properties. El Dorado is a lease holder and operator of oil and gas wells covering about 4,000 net acres in South Texas. El Dorado also owns a substantial amount of oil field equipment and owns real estate in multiple locations and states. Hugoton also owns oil and gas interests and operates wells in South Texas. Hugoton Operating Company, Inc. filed a voluntary Chapter 11 petition (Bankr. S.D. Miss. Case No. 23-51139) on Aug. 14, 2023. El Dorado Gas & Oil, Inc., a company in Gulfport, Miss., filed Chapter 11 petition (Bankr. S.D. Miss. Case No. 23-51715) on Dec. 22, 2023, with $500 million to $1 billion in assets and $50 million to $100 million in liabilities. Thomas L. Swarek, president, signed the petition. Judge Jamie A. Wilson oversees the cases. Patrick Sheehan, Esq., at Sheehan & Ramsey, PLLC, is counsel to Debtor Bluestone Natural Resources II-South Texas, LLC and World Aircraft, Inc. R. Michael Bolen, Esq., at Hood & Bolen, PLLC; and Nancy Ribaudo, Esq., Katherine Hopkins, Esq., and Joseph Austin, Esq., at Kelly Hart & Hallman LLP, serve as counsel to Dawn Ragan, Chapter 11 Trustee for El Dorado Gas & Oil, Inc. and Hugoton Operating Company, Inc. ELITE INVESTMENTS: Aleida Molina Named Subchapter V Trustee ----------------------------------------------------------- The Acting U.S. Trustee for Region 21 appointed Aleida Martinez Molina, Esq., as Subchapter V trustee for Elite Investments Capital, LLC. Ms. Molina will be paid an hourly fee of $450 for her services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Ms. Molina declared that she is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Aleida Martinez Molina, Esq. 2121 NW 2nd Avenue, Suite 201 Miami, FL 33127 Telephone: (305) 297-1878 Email: Martinez@subv-trustee.com About Elite Investments Capital LLC Elite Investments Capital, LLC filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. S.D. Fla. Case No. 26-18530) on June 29, 2026, with up to $50,000 in both assets and liabilities. Judge Peter D. Russin presides over the case. David W. Langley, Esq., represents the Debtor as legal counsel. ETHEMA HEALTH: Reports $2.18M FY2025 Loss Amid Going Concern Doubt ------------------------------------------------------------------ Ethema Health Corporation has filed its Annual Report on Form 10-K with the U.S. Securities and Exchange Commission for the fiscal year ended December 31, 2025, reporting revenue of $18.76 million for the year ended December 31, 2025, compared to $6.02 million for the year ended December 31, 2024, an increase of $12.75 million, or 211.9%. Revenue included $10.85 million from the acquisition of the business of ERC, with revenue from existing business of $7.92 million for the year ended December 31, 2025, compared to $6.02 million for the year ended December 31, 2024, an increase of $1,901,347, or 31.6%. The increase in existing business revenue is primarily due to the increase in patient count at the West Palm Beach facility and the acquisition of the Boca Raton rehab and detox facility during June 2024, which commenced revenue generating operations in January 2025 after obtaining all necessary regulatory approvals. The Company reported a net loss of $2.18 million for the year ended December 31, 2025, compared to a net loss of $2.17 million for the year ended December 31, 2024, an increase in loss of $11,732, or 0.5%. Boca Raton, Florida-based RBSM LLP, the Company's auditor since 2023, issued a going concern qualification in its report dated June 30, 2026, citing that the Company has suffered recurring losses from operations, has generated negative cash flows from operating activities, and has a working capital deficiency and accumulated deficit. Operating Expenses * General and administrative expenses were $3.93 million for the year ended December 31, 2025, compared to $1.55 million for the year ended December 31, 2024, an increase of $2,384,101, or 153.7%, including $2.04 million from the acquisition of the business of ERC. * Salaries and wages were $9.55 million for the year ended December 31, 2025, compared to $3.07 million for the year ended December 31, 2024, an increase of $6.47 million, or 210.7%, including $5.67 million from the acquisition of the business of ERC. * Rent expense was $3.01 million for the year ended December 31, 2025, compared to $1.3 million for the year ended December 31, 2024, an increase of $1.71 million, or 131.1%, including $1.5 million from the acquisition of the business of ERC. * Professional fees were $1.59 million for the year ended December 31, 2025, compared to $955,801 for the year ended December 31, 2024, an increase of $641,271, or 67.1%, including $645,582 from the acquisition of the business of ERC. * Depreciation and amortization expense was $812,279 for the year ended December 31, 2025, compared to $466,952 for the year ended December 31, 2024, an increase of $345,327, or 74.0%, including $317,406 from the acquisition of the business of ERC. The operating loss was $260,135 for the year ended December 31, 2025, compared to $1,333,129 for the year ended December 31, 2024, a decrease in loss of $1,072,994, or 80.5%, primarily due to the increase in revenue from the acquisition of ERC and increased revenue in the Company's Florida locations, offset by an increase in operating expenses. Interest expense was $1,388,074 for the year ended December 31, 2025, compared to $565,343 for the year ended December 31, 2024, an increase of $822,731, or 145.5%, including $486,234 related to the acquisition of the business of ERC. Amortization of debt discount was $616,072 for the year ended December 31, 2025, compared to $416,120 for the year ended December 31, 2024, an increase of $199,952, or 48.1%. Liquidity and Capital Resources Cash used in operating activities was $0.03 million for the year ended December 31, 2025, compared to $0.46 million for the year ended December 31, 2024, a decrease of $0.43 million, or 93.5%. Cash used in investing activities was $0.25 million for the year ended December 31, 2025, compared to $1.0 million for the year ended December 31, 2024. Cash provided by financing activities was $0.08 million for the year ended December 31, 2025, compared to $1.7 million for the year ended December 31, 2024. Over the next 12 months, the Company estimates it will require approximately $3.9 million in funding to repay its obligations other than convertible notes and promissory notes. In the opinion of management, the Company's liquidity risk is assessed as high. During the last quarter of 2025, a healthcare provider that is a significant customer of the Company reduced its reimbursement rates on services provided to its patients by significant amounts, resulting in certain services becoming no longer profitable. The Company has reacted to these reduced rates by ceasing to offer certain services to this customer's patients and by restructuring operations to reduce expenses in the first and second quarters of 2026. Going Concern For the year ended December 31, 2025, the Company incurred a net loss of $2.2 million and had negative cash flow from operating activities of $0.1 million. These matters, together with the accumulated deficit of $46.6 million, working capital deficiency of $13.8 million, and total liabilities in excess of total assets of $9.6 million, raise substantial doubt about the Company's ability to continue as a going concern. Management believes that current available resources will not be sufficient to fund the Company's planned expenditures over the next 12 months. Accordingly, the Company will be dependent upon raising additional capital through placement of common shares and/or debt financing in order to implement its business plan and generate sufficient revenue in excess of costs. There is no assurance that the Company will be successful with future financing ventures, and the inability to secure such financing may have a material adverse effect on the Company's financial condition. A full text copy of the Company's Form 10-K is available at https://tinyurl.com/2es3mnxb. About Ethema Health Ethema Health Corp. is a Colorado-based company headquartered in West Palm Beach, Florida, focused on addiction treatment services in the United States. Originally established as an oil and gas exploration firm, the Company transitioned through various sectors, including electronics -- before shifting to healthcare. It now operates primarily through Evernia, maintaining in-network relationships with healthcare providers to source most of its clients. As of December 31, 2025, the Company had $28.77 million in total assets, $38.40 million in total liabilities, and $9.64 million in total stockholders' deficit, with an accumulated deficit of $46.6 million and a working capital deficiency of $13.8 million. EVONA LLC: Unsecureds to Get Share of Income for 3 Years -------------------------------------------------------- Evona, LLC filed with the U.S. Bankruptcy Court for the District of Massachusetts a Plan of Reorganization dated June 26, 2026. The Debtor was formed in June 2010 as a Massachusetts limited liability company for the purpose of owning a gas station operation and real estate located at 603 Main Street, Wilmington, Massachusetts (the "Property"). In addition to the Property, the Debtor owns certain equipment used in connection with the operating of a full-service gas station including gas pumps, gas tanks, canopy, and related equipment (the "Gas Station Equipment"). The Debtor also owns certain equipment used in connection with the operation of a service station including vehicle lifts, inspection sticker machine, tire machine and related equipment (the "Service Station Equipment"). The Debtor in this case is a Massachusetts limited liability company. Walid Eldayha and Jamil Eldoueiri each own a 50% beneficial membership interest in the Debtor and both serve as Managers of the Debtor. On or about March 27, 2026, relying solely on the provisions of the Cross Default Agreement, BrightBridge filed a civil action in the Essex County Superior Court against the Debtor seeking judgment for all amounts due and owing under the Evona Secured Loan, the Cranberry Loan and the Gateway Loan (the "Civil Action"). Pursuant to the Civil Action, BrightBridge applied for a real estate attachment and lis pendens against the Wilmington Property as prejudgment security for all amounts due and owing under the Cranberry and Gateway Loans. On March 30, 2026, the Debtor filed the herein Chapter 11 Voluntary Petition. Since the filing of the case, the Debtor has focused on generating revenue from the management of Property including collecting rents from Naya, Inc., the Debtor's sole tenant and operator of the service station and gas station. On June 26, 2026, the Debtor filed an adversary proceeding against its largest unsecured creditor, BrightBridge objecting that portion of its claim arising from the Cranberry and Gateway Loans in the amount of $1,255,825.65 (the "Disputed Claim") and challenging the validity and extent of its claimed lien on the Property for the Disputed Claim. The Plan is for thirty-six month beginning on the Effective Date of reorganization. Under the Plan, general unsecured creditors shall receive quarterly payments equal to the Debtor's monthly disposable income for the period of 36 months following the Effective Date. The Debtor will pay all Administrative Expense Claims, including claims for professional fees incurred during the administration of the case, within 30 days following the Effective Date of the Plan. The funds necessary to fund the Plan will come from Debtor's cash on hand at the time of confirmation and future projected disposable monthly income. Class Five shall consist of all Allowed Claims other than Class One, Two, Three, and Four Allowed Claims. Each holder of a Class Five Allowed Unsecured Claim shall be paid in full satisfaction thereof a pro rata share of the Debtor's projected disposable monthly income payable on a quarterly basis beginning at the end of the first quarter following confirmation of the Plan. The Debtor will hold from distribution to Class Five Unsecured Creditors and set aside an amount equal to the distributions that would be required to be made to the Unsecured Creditors holding Disputed Claims in the event that such claims later become Allowed Claims (the "Disputed Claim Reserve"). Upon resolution of the Disputed Claims and distributions to holders of such claims which become Allowed Claims, if any, the Debtor will disburse the balance of the Disputed Claim Reserve to Unsecured Creditors pro rata. The Debtor's estimate approximately $1,265,825.65 in general unsecured claims, including the BrightBridge Disputed Claim in the amount of $1,255,825.65. The Class Five claimants shall receive quarterly payments equal to all of the projected monthly disposable income received by the Debtor in the 3-year period beginning on the Effective Date. This class is impaired under the Plan. Class Six consists of all allowed interests of the Debtor currently held by Walid Eldayha -50% and Jamil Eldoueiri -50%. Upon confirmation of the Plan, all outstanding interests in the Debtor will be canceled. Upon confirmation of the Plan, Walid Eldayha and Jamil Eldoueiri shall hold the same rights and interests in the property of the Debtor’s estate as existed prior to the Petition Date. The Debtor's obligations under the Plan will be funded out of accumulated cash currently on deposit with the Disbursing on the Effective Date and disposable income generated by the Debtor during the three years following the Effective Date of the Plan. A full-text copy of the Plan of Reorganization dated June 26, 2026 is available at https://urlcurt.com/u?l=ipILuH from PacerMonitor.com at no charge. Counsel to the Debtor: George J. Nader, Esq. Riley & Dever, P.C. 210 Broadway, Suite 101 Lynnfield, MA 01940 Phone: (781) 581-9880 E-mail: nader@rileydever.com About Evona LLC Evona LLC was formed in June 2010 as a Massachusetts limited liability company for the purpose of owning a gas station operation and real estate located at 603 Main Street, Wilmington, Massachusetts (the "Property"). The Debtor filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. D. Mass. Case No. 26-10699) on March 30, 2026, listing as much as $50,000 in both assets and liabilities. Stephen Gray of Gray & Company, LLC serves as Subchapter V trustee. George J. Nader, Esq., at Riley & Dever, P.C. represents the Debtor as legal counsel. FAIRMONT AT THE CEDARS: Receivership Ordered Over $32M Debt Default ------------------------------------------------------------------- George Fabe Russell of Hendersonville Times-News reports that a North Carolina business court has ordered the Fairmont at the Cedars into receivership, placing the unfinished Hendersonville development under the control of The Liberty Solution LLC. The ruling follows lender Fuse 10 LLC's allegations that the project's owners defaulted on a $32 million loan secured by the property. The court-appointed receiver now has authority to manage the development, safeguard its assets and, if necessary, pursue the sale of all or part of the project to repay creditors. The order also requires the developers to transfer ownership records, financial accounts and other business documents to the receiver, the report states. Construction on the luxury mixed-use development has been halted since last year. Turner Construction, the project's general contractor, filed a separate lawsuit claiming approximately $7 million in unpaid work after leaving the site in early 2025, adding to the project's financial difficulties, the report cites. Fuse 10 maintained that receivership was necessary because the unfinished property faced deterioration and declining value. The lender issued a formal default notice in May after the developers allegedly failed to repay the loan following an agreed extension, while the developer said efforts are underway to secure replacement financing, according to Hendersonville Times-News. About Fairmont at the Cedars The Fairmont at the Cedars, a stalled $180 million luxury hotel and condominium development in Hendersonville, North Carolina. Judge A. Graham Shirley ordered the Fairmont at the Cedars into receivership and appointed The Liberty Solution LLC as receiver to assume control of the development, following claims that the project defaulted on a $32 million loan. The project has been stalled since 2025 after contractor Turner Construction suspended work and later filed a lawsuit seeking about $7 million for allegedly unpaid construction services. Fuse 10 argued that the unfinished property was at risk of deterioration and loss in value because portions of the structure remained exposed to the elements. Fuse 10 issued a notice of default in May 2026 after alleging the developer failed to repay the loan despite a prior extension of the maturity date to Dec. 31, 2025. Developer Gregg Covin said the company is pursuing new financing to restart construction but declined to comment further on the receivership proceedings. FENG TAI: Taps Bill Zou & Associates as Legal Counsel ----------------------------------------------------- Feng Tai LLC seeks approval from the U.S. Bankruptcy Court for the Eastern District of New York to hire Bill Zou & Associates PLLC to serve as legal counsel. The firm will provide these services: (a) give legal advice with respect to its powers and duties and the continued management of its business; (b) negotiate with creditors and work out a plan of reorganization, including taking the necessary legal steps and conducting negotiations with creditors and other parties in interest; (c) prepare the necessary answers, orders, reports and other legal papers required for protection under Chapter 11 of the Bankruptcy Code; (d) appear before the Bankruptcy Court and represent the company in all matters pending before the Court; (e) attend meetings and negotiate with representatives of creditors and other parties in interest; (f) advise in connection with any potential refinancing of secured debt and any potential sale of assets; (g) represent the company in obtaining post-petition financing, if necessary; (h) take any necessary action to obtain approval of a disclosure statement and confirmation of a plan of reorganization; and (i) perform all other legal services necessary for the preservation of the estate and to promote the best interests of the company, its creditors and the estate. Bill Zou & Associates PLLC will receive hourly rates ranging from $300 to $600 for attorneys and $200 for paraprofessionals. The firm also received a $30,000 retainer for legal services and expenses in connection with the Chapter 11 case. Bill Zou & Associates PLLC is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code, according to court filings. The firm can be reached at: William X. Zou, Esq. BILL ZOU & ASSOCIATES PLLC 136-20 38th Avenue, Suite 10D Flushing, NY 11354 Telephone: (718) 661-9562 E-mail: xfzou@aol.com zoulawoffice@yahoo.com About Feng Tai LLC Feng Tai LLC is a real estate company that owns a newly built 22-unit residential building at 43-18 Union Street in Flushing, New York, with an estimated value of $9.5 million. Feng Tai LLC sought protection under Chapter 11 of the Bankruptcy Code (Bankr. E.D.N.Y. Case No. 26-42657) on June 1, 2026. At the time of the filing, the company had total assets of $9,537,743 and total liabilities of $16,483,470. Judge Jil Mazer-Marino oversees the case. Bill Zou & Associates PLLC is the Debtor's legal counsel. FINANCE OF AMERICA: Closes $5.2B HECM MSR Acquisition From Onity ---------------------------------------------------------------- Finance of America Reverse LLC announced that it has completed its acquisition of reverse mortgage servicing rights (MSRs) from Onity Group Inc.'s subsidiary, Onity Mortgage Corporation. The all-cash transaction includes approximately 20,000 Ginnie Mae home equity conversion mortgage loans representing $5.2 billion in unpaid principal balance. The acquisition significantly expands Finance of America's HECM servicing portfolio and customer base, positioning the Company to serve more homeowners age 55 and older seeking responsible home equity access. In connection with the transaction, Finance of America has engaged Onity Mortgage as a subservicer under a three-year agreement, enabling operational continuity and allowing Finance of America to diversify its servicing footprint with a talented subservicing partner. "Completing this transaction represents an important milestone in our growth strategy," said Graham Fleming, Chief Executive Officer of Finance of America. "We are pleased to welcome these customers to our platform while establishing a meaningful servicing relationship with Onity. This acquisition strengthens our market leadership and enhances our ability to deliver innovative reverse mortgage solutions to more American homeowners." About Finance of America Plano, Texas-based Finance of America Companies Inc. is a financial services holding company. Through its operating subsidiaries, it operates as a modern retirement solutions platform, providing customers with access to an innovative range of retirement offerings centered on the home. In addition, Finance of America offers capital markets and portfolio management capabilities to optimize distribution to investors. As of March 31, 2026, the Company had $31.3 billion in total assets, $30.9 billion in total liabilities, and a total stockholders' equity of $438.1 million. * * * In December 2025, Fitch Ratings affirmed the Long-Term Company Default Ratings (IDRs) of Finance of America Companies Inc. and its subsidiaries, Finance of America Equity Capital LLC and Finance of America Funding LLC (collectively, FOA) at 'CCC'. A Positive Rating Outlook has been assigned. Fitch has also affirmed Finance of America Funding's senior secured rating at 'CCC-' with a Recovery Rating of 'RR5'. This rating action has been taken as part of a periodic peer review of non-bank mortgage companies, which is comprised of seven publicly rated firms. FRIDLEY ISD 14: Moody's Downgrades Issuer & GOULT Ratings to B1 --------------------------------------------------------------- Moody's Ratings has downgraded Fridley Independent School District 14, MN's issuer and general obligation unlimited tax (GOULT) ratings to B1 from Ba3. Moody's have also continued the review for possible downgrade. As of January 2026, the district had about $53 million in GOULT debt outstanding. The downgrade to B1 reflects continued liquidity strain as the district plans to borrow again in the coming months to meet debt service on its January cash flow borrowing. Ongoing financial disclosure uncertainty, limited insight into fiscal 2025 and 2026 performance, and weak budget management and internal controls support the continued review for sufficiency of information and could lead to further downgrades. Its financial position will remain challenged through at least fiscal 2027 given reliance on cash flow borrowing for debt service and operations. RATINGS RATIONALE The B1 issuer rating reflects the district's materially eroding financial position, driven by multiyear deficits, weak financial management and significant disclosure challenges. The district was recently placed under state oversight because of a projected negative fiscal 2025 fund balance. Unaudited fiscal 2025 estimates from its preliminary recovery plan show available fund balance falling to an unsustainable negative 15%, slightly improved from the negative 20% expected in January. The deficit's size and audit timing remain uncertain because of finance office turnover, record-keeping inconsistencies and unresolved audit items, though state oversight is assisting completion. Amid liquidity pressure, the district issued $11.5 million in aid anticipation certificates in January 2026 to support operations and make debt service partway through fiscal 2027. The district's budget management is constrained by financial disclosure uncertainty and limited visibility into its current position, which will likely remain challenged for several years. It planned to balance operations beginning in fiscal 2026 through a voter-approved levy increase, spending cuts and state oversight, but the scope of reduction effectiveness remains uncertain in the district's reporting. The district will need additional cash flow borrowing again to make the September 2026 maturity on its January 2026 certificates. The state's Credit Enhancement Program should continue supporting market access for such borrowing. Governance is a key rating driver because weak budget management and internal controls contributed to recent deficits and fiscal 2025 and 2026 uncertainty. Its solid economic base benefits from its proximity to the Twin Cities, with a strong resident income ratio and strong full value per capita at just below 90% and near $130,000, respectively. Enrollment has recently stabilized at a three-year CAGR of negative 0.1%, though management projects it will modestly decline over the next several years because of negative demographic trends. The long-term liabilities ratio is moderate at around 230%, but will likely increase because the district plans to issue $15.5 million in remaining voter-approved referendum debt in fiscal 2027. The B1 GOULT rating is equivalent to the B1 issuer rating based on the district's general obligation full faith and credit pledge and authority to levy an unlimited property tax dedicated to debt service. RATING OUTLOOK The ratings are under review for possible downgrade given the lack of a draft or final fiscal 2025 audit. If the information is not received over the next 60 days, Moody's will take appropriate rating action which could include the lowering or withdrawal of the district's ratings. FACTORS THAT COULD LEAD TO AN UPGRADE OF THE RATINGS -- Given the magnitude of the financial disclosure and budget management challenges, an upgrade is unlikely in the near-term. However, sustained balance in financial operations that support the recovery of the available fund balance ratio to levels that are positive, coupled with satisfactory internal controls and budget oversight, could warrant an upgrade FACTORS THAT COULD LEAD TO A DOWNGRADE OF THE RATINGS -- Inability to access capital markets to secure cash flow borrowing or maintain sufficient liquidity to meet expenditures through fiscal 2027, coupled with defaults in future debt service payments with less than full recovery -- Failure to develop and adhere to a fiscal recovery plan that enables the district to quickly stabilize its financial operations -- Prolonged inability to materially improve financial oversight and internal controls PROFILE Fridley Independent School District 14, MN is situated in Anoka County, located about 10 miles north of Minneapolis and 20 miles northwest of St. Paul. The district provides kindergarten to twelfth grade education to around 2,800 students. METHODOLOGY The principal methodology used in these ratings was US K-12 Public School Districts published in June 2026. GEDEN HOLDINGS: Court Affirms Denial of Chapter 15 Recognition -------------------------------------------------------------- Senior Judge Lee H. Rosenthal of the U.S. District Court for the Southern District of Texas dismissed the appeal styled DR REUBEN BALZAN, Appellant, v. ADVANTAGE AWARD SHIPPING, LLC, Appellee, CIVIL ACTION NO. H-25-4308 (S.D. Tex.). Geden Holdings, Ltd. was registered in Malta in 2002. Its principal activity was owning subsidiary companies that operated ships in the international shipping market. On June 15, 2017, the First Hall of the Civil Court in Malta found Geden unable to pay its debts and ordered the company to be dissolved and wound up. Geden was deemed insolvent under Maltese law on September 16, 2016, the date the windup application was filed. On December 4, 2023, the Maltese Court appointed Dr. Reuben Balzan as Liquidator and Foreign Representative of Geden. The Maltese Court authorized Balzan to file for Chapter 15 relief. In April 2025, Geden Holdings, Ltd. filed a petition in the Bankruptcy Court for the Southern District of Texas seeking recognition of a foreign liquidation proceeding pending in Malta. Advantage Award Shipping, LLC, objected to Geden's petition and opposed the court granting recognition. Geden filed an emergency motion to strike Advantage Award's objection. The Bankruptcy Court concluded that the Maltese proceeding was not recognized as a foreign main or nonmain proceeding under the Bankruptcy Code and denied the petition for recognition. The Bankruptcy Court also dismissed Geden's motion to strike Advantage Award Shipping, LLC's objection as moot. Geden now appeals. Before the Bankruptcy Court, Geden argued that the Sec. 1516(c) presumption controlled because Advantage Award had provided no affirmative evidence showing Geden's COMI was anywhere but Malta. Geden argued that its COMI was Malta because: (1) it was registered as a corporation under Maltese law, (2) the Maltese Court has been administering the proceeding since 2017, (3) Balzan -- the only person in control of Geden -- resides and works in Malta, (4) over the previous nine years, Geden had no other operations in any other jurisdiction, (5) even before Balzan arranged funding and sought authority from the Maltese Court to bring the Chapter 15 case, Malta was Geden's only remaining place of business activity, and (6) the law of Malta would apply to most disputes relating to Geden. The Bankruptcy Court noted that Balzan testified that in his role as liquidator, he has not paid taxes, brought legal actions outside the Chapter 15 case, nor reached out to any former officers or directors of Geden, which he had conceded were the general responsibilities of a liquidator in a Maltese proceeding. Because Balzan's own testimony showed that he had not satisfied the general duties of a liquidator, his actions did not establish Geden's COMI in Malta as of the petition date. For this reason, the Bankruptcy Court concluded that the Maltese Proceeding was not a foreign main proceeding. The Bankruptcy Court found no evidence that Geden had a place of operations in Malta as of the petition date, that it was conducting business in Malta as of the petition date, or that Balzan's actions had an effect on the Malta marketplace as of the petition date. Without this evidence, the Maltese Proceeding could not be a foreign nonmain proceeding. Because the Maltese Proceeding was not a foreign main or foreign nonmain proceeding, the Bankruptcy Court denied the petition for recognition. Issues on Appeal Geden argues that the Bankruptcy Court erred by not deciding whether Advantage Award had standing to participate before deciding the merits. According to the District Court, because the Bankruptcy Court had an independent duty to consider the relevant facts and law even in the absence of an objection, it did not need to rule on the motion to strike before it ruled on the petition for recognition and did not err by considering Advantage's arguments and evidence. Geden also argues that the Bankruptcy Court misapplied the Sec. 1516 presumption. However, the District Court finds because there is evidence to the contrary and a dispute as to whether Geden's COMI was in Malta, the Bankruptcy Court did not err in finding that the presumption did not apply. Geden presented no evidence of any other activity in or ties to Malta during the relevant period other than Dr. Balzan's (minimal) work as foreign representative and liquidator. According to the District Court, because there is no evidence of more than minimal liquidation and administrative activity in Malta since the petition was filed, or other evidence as to Geden's ties to Malta during the relevant period, Geden has not met its burden of proving that its COMI is in Malta. Thus, the District Court agrees with the Bankruptcy Court that, based on the facts of this case, the Maltese Proceeding is not recognized a foreign main proceeding subject to recognition under the Bankruptcy Code. Accordingly, the District Court affirms the Bankruptcy Court's order and Memorandum Opinion denying Geden's petition for recognition and dismissing the motion to strike as moot. A copy of the Court's Memorandum and Opinion dated July 6, 2026, is available at http://urlcurt.com/u?l=kpwVVwfrom Pacermonitor.com. About Geden Holdings Ltd. Geden Holdings Ltd. is a Malta-based holding company primarily engaged in acquiring and subscribing to shares of its subsidiary firms, which operate in the international shipping market. These subsidiaries charter both owned and third-party vessels to transport oil products and dry cargo. Geden also functions as the group's treasurer, borrowing from financial institutions to fund its subsidiaries. Geden Holdings Ltd. sought relief under Chapter 15 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 25-90138) on April 28, 2025. The Honorable Bankruptcy Judge Alfredo R. Perez handles the Chapter 15 case. The Foreign Proceeding is a Court-Ordered Liquidation in Malta before the First Hall of the Civil Court. The Foreign Representative's Counsel are Matthew S. Okin, Esq., and Kelley K. Edwards, Esq., at OKIN ADAMS BARTLETT CURRY, LLP. GRANIO LLC: Seeks Chapter 11 Bankruptcy to Protect Housing Complex ------------------------------------------------------------------ Eman Elshahawy of The Real Deal reports that Granaio LLC has turned to Chapter 11 bankruptcy in an effort to protect a former affordable housing complex in New Orleans that is being demolished amid a long-running dispute with city officials. The Miami-based developer filed for reorganization on June 24, reporting $37 million in assets and $19 million in liabilities, and argues the bankruptcy should prevent further demolition of the DeGaulle Manor property while litigation proceeds. The company maintains that the vacant complex represents the bulk of its assets, together with redevelopment plans prepared over several years. Granaio purchased the property in 2017 after a sheriff's sale and says it intended to redevelop the site into a mixed-income neighborhood with residential units, commercial space and community amenities. Its primary secured obligation is an $18 million mortgage held by Capital Advisors, the report relays. City officials, however, moved forward with demolition after obtaining $3 million in funding for the long-delayed project. New Orleans says the abandoned complex has become a major public nuisance marked by code violations, illegal dumping, rodent infestations, fire hazards and criminal activity. While the city plans to pursue reimbursement for demolition costs, Granaio argues officials ignored a prior court agreement governing any demolition and violated bankruptcy protections by continuing work after the filing, according to The Real Deal. The dispute follows years of litigation involving Joshua Bruno and related real estate entities. Previous Chapter 11 filings involving Bruno-affiliated apartment owners resulted in court-approved liquidations after foreclosure proceedings. Bruno has also faced separate legal issues unrelated to the bankruptcy, while Granaio has declined to discuss those matters, focusing instead on its claims that the city improperly destroyed a property it intended to redevelop. About Granaio LLC Granaio LLC is a Miami-based real estate investment and development firm specializing in the redevelopment of distressed and underutilized properties. The company acquires, finances, and manages real estate projects with an emphasis on residential redevelopment and community revitalization. Its principal asset is the former DeGaulle Manor housing complex in New Orleans, which became the focus of redevelopment efforts and subsequent bankruptcy proceedings in 2026. Granaio LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 26-18314) on June 24, 2026. In its petition, the Debtor reports estimated assets and liabilities between $10 million and $50 million each. Honorable Bankruptcy Judge Corali Lopez-Castro handles the case. The Debtor is represented by Adam I. Skolnik, Esq. HEALTHCARE FOR ALL: Seeks to Extend Plan Exclusivity to Oct. 16 --------------------------------------------------------------- Healthcare for All Women OB/GYN PLLC and True Health Medical P.C., asked the U.S. Bankruptcy Court for the Eastern District of New York to extend their exclusivity periods to file a plan of reorganization and obtain acceptance thereof to Oct. 16 and Dec. 18, 2026, respectively. The Debtor Healthcare for All Women OB/GYN, PLLC is a for profit New York professional limited liability company formed on January 18, 2011. Healthcare is an OB/GYN single specialty medical practice. The Debtor True Health Medical, P.C., is a for profit New York professional service corporation formed on July 21, 2020. True Health is a multi-specialty medical practice. The Debtors submit that cause exists to grant the proposed extensions of the current exclusive periods. The Debtors believe that it is essential and therefore beneficial to the estates and their creditors that the Debtors be afforded the time necessary in an environment where the Debtors are not distracted with the concomitant threat of competing plans, unproductive confrontations and the increasing administrative costs associated therewith. The Debtors believe that the proposed extension of the current exclusive periods will not prejudice creditors of the Debtors' estates or other parties-in-interest. To terminate the exclusive periods prematurely would be to deny the Debtors a meaningful opportunity to negotiate with creditors, resume operations, and propose a confirmable plan. This would be contrary to the overall purpose of the Chapter 11 process. Finally, a premature termination of the exclusive periods might force the Debtors to waste valuable time and efforts combating competing plans and result in increasing administrative expenses, all to the detriment of the estate, the creditors and other parties-in-interest. Accordingly, the Debtors respectfully submit that sufficient cause exists under Section 1121(d) of the Bankruptcy Code to extend the current exclusive periods without prejudice to the Debtors' right to seek additional extensions upon appropriate notice and hearing therefore. The development of any plan of reorganization at this stage of the Chapter 11 case is premature and would not serve the best interest of the Debtors, their estates or their creditors. Counsel for the Debtors: Robert J. Spence, Esq. Spence Law Office, P.C. 55 Lumber Road, Suite 5 Roslyn, NY 11576 Tel: (516) 336-2060 Fax: (516) 605-2084 E-mail: rspence@spencelawpc.com About Healthcare for All Women OB/GYN Healthcare for All Women OB/GYN PLLC, which operates a women's health clinic in Great Neck, New York, provides obstetric and gynecological services including preventive care, reproductive health management, and routine screenings. The practice delivers patient-centered care through services such as prenatal management, gynecologic examinations, and diagnostic evaluations, supporting patients across different stages of care within a single clinical setting. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.Y. Case No. 26-71056) on March 17, 2026. In the petition signed by Sarita Khatri, MD, managing member, the Debtor disclosed $7,306,957 in total liabilities. Robert J. Spence, Esq., at Spence Law Office, P.C., represents the Debtor as bankruptcy counsel. HERNANDEZ-LOPEZ & SONS: Unsecureds Will Get 100% over 54 Months --------------------------------------------------------------- Hernandez-Lopez & Sons, Inc., filed with the U.S. Bankruptcy Court for the Southern District of Texas a Combined Disclosure Statement and Chapter 11 Plan dated June 26, 2026. The Debtor is a Texas corporation headquartered in Laredo, Texas. The Debtor has been in the business of providing funeral services and cremations in Laredo, Texas since its inception in December of 1989. The Debtor is owned 50% by Ernesto G. Lopez, Sr., 25% by Hector D. Hernandez, and 25% by Laura Hernandez. In recent years, the funeral industry has changed substantially. Fewer families are choosing interment of their loved ones, and more are electing the less expensive option of cremation. This shift has severely reduced the Debtor's cash flow. The Debtor's principal creditor is PNC Bank, National Association. The Debtor owes PNC approximately $983,558.01, exclusive of accrued interest, costs, and attorneys' fees. PNC's debt is secured by a lien on the improved real property where the Debtor operates its business, which the Debtor believes is worth approximately $2,656,163.00. When the Debtor's cash flow became insufficient to service the PNC debt, PNC filed a collection lawsuit against the Debtor, which included a request that a receiver be appointed. The Debtor believes there is sufficient equity in the company, and sufficient business with sufficient income, for it to reorganize and pay all allowed claims against it within a reasonable time. For these reasons, the Debtor sought the protection of this Court. Class 7 consists of General Unsecured Claims. The allowed unsecured claims total $178,129.56. This Class will receive a monthly payment of $3,298.70 shared pro rata for 54 months. This Class will receive a distribution of 100% of their allowed claims. This Class shall be paid from the Debtor's monthly net income. This Class is impaired. Payments and distributions under the Plan will be funded by: (1) net income from the Debtor's business operations; (2) the net proceeds from the sale of the Debtor's real property located at Lot 12 and the West ½ of Lot 11, Block 1746 ED, City of Laredo, Webb County, Texas, which the Debtor proposes to apply to ad valorem taxes and the PNC indebtedness; or, in the alternative, (3) the proceeds from the sale of the Debtor's entire business with all assets as an ongoing business to pay all creditors in full. The Debtor's projected cash flow, attached hereto as Exhibit E, indicates that these sources will be sufficient to fund the Plan and pay the Debtor's operating expenses pending the sale of Property 1 and/or 2. A full-text copy of the Combined Disclosure Statement and Plan dated June 26, 2026 is available at https://urlcurt.com/u?l=52a1k8 from PacerMonitor.com at no charge. Counsel to the Debtor: Carl M. Barto, Esq. Law Office Of Carl M. Barto 817 Guadalupe Laredo, TX 78040 Office: (956) 725-7500 Fax: (956) 722-7639 E-mail: cmblaw@netscorp.net About Hernandez Lopez & Sons Hernandez Lopez & Sons, Inc., operates a funeral and cremation services business in Laredo, Texas. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 26-50020) on April 20, 2026. In the petition signed by Ernesto Lopez Sr., president, the Debtor disclosed up to $50,000 in both assets and liabilities. Judge Jeffrey P. Norman oversees the case. The Debtor tapped Carl M. Barto, Esq., at Law Office of Carl M. Barto as counsel and Luna CPA LLC as accountant. HILL METAL: Case Summary & 12 Unsecured Creditors ------------------------------------------------- Debtor: Hill Metal Development, LLC 7111 W 151st Street #22 Overland Park, KS 66224 Business Description: Hill Metal Development LLC is a Kansas City, Missouri-based hotel real estate company that owns the Holiday Inn Express & Suites Kansas City Sports Complex Area, a lodging property at 8551 E. Blue Parkway Drive in Kansas City, Missouri. Chapter 11 Petition Date: July 6, 2026 Court: United States Bankruptcy Court District of Kansas Case No.: 26-20999 Judge: Hon. Dale L Somers Debtor's Counsel: Colin N. Gotham, Esq. EVANS & MULLINIX, P.A. 7225 Renner Road, Suite 200 Shawnee, KS 66217 Tel: (913) 962-8700 Fax: (913) 962-8701 E-mail: cgotham@emlawkc.com Total Assets: $7,151,592 Total Liabilities: $6,992,455 The petition was signed by Shoaib Chatta as managing member. A full-text copy of the petition, which includes a list of the Debtor's 12 unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/NS4UNZA/Hill_Metal_Development_LLC__ksbke-26-20999__0001.0.pdf?mcid=tGE4TAMA HOLLY INVESTMENT: Section 341(a) Meeting of Creditors on July 13 ---------------------------------------------------------------- On June 19, 2026, Holly Investment Inc. filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Central District of California. According to court filings, the Debtor reports between $1 million and $10 million in liabilities, between $1 million and $10 million in assets, and 1–49 creditors. A meeting of creditors under Section 341(a) to be held on July 13, 2026 at 01:30 PM at UST-LA2, TELEPHONIC MEETING. CONFERENCE LINE:1-888-330-1716, PARTICIPANT CODE:8009991. About Holly Investment Inc. Holly Investment Inc. is an Arcadia, California-based lessor of nonresidential buildings. As stated in the bankruptcy filing, the company operates as a single asset real estate business, with current operations focused on managing its nonresidential real estate holdings in Monterey Park, California while pursuing financial restructuring. Holly Investment Inc. sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-16142) on June 19, 2026. In its petition, the Debtor reports estimated assets of $1 million to $10 million and estimated liabilities of $1 million to $10 million. Honorable Bankruptcy Judge Barry Russell handles the case. The Debtor is represented by Robert Altagen, Esq., of Robert S. Altagen. HYPERMIND CORP: Unsecureds Will Get 5% of Claims over 60 Months --------------------------------------------------------------- Hypermind Corp. filed with the U.S. Bankruptcy Court for the Northern District of California a Plan of Reorganization for Small Business dated June 26, 2026. The Debtor operates Paris Bakery, a bakery and café business located in Monterey County, California. The business generates revenue through the sale of baked goods, coffee beverages, sandwiches, prepared foods, and related retail products. Debtor has operated as a going concern for several years and continues to employ staff and serve customers throughout the Monterey Peninsula region. The Debtor commenced this Subchapter V proceeding on April 1, 2026 in order to restructure significant secured business debt while preserving operations, maintaining employment, and maximizing recovery to creditors. The primary debt addressed by this Plan is the secured claim of First Internet Bank of Indiana. The Debtor's financial projections show that the Debtor will have projected disposable income of not less than $55,008.38. Based upon projected operations, Debtor anticipates generating sufficient disposable income to fund all Plan obligations, including the Class 3 distribution fund of approximately $55,008.38 over sixty months. The final Plan payment is expected to be paid on Sept. 15, 2031, which is anticipated to be 60 months after the effective date. This Plan of Reorganization proposes to pay creditors of the Debtor from the Debtor's cash on hand and future income generated through continued business operations. Non-priority unsecured creditors holding allowed claims will receive distributions, which the proponent of this Plan has valued at approximately 5 cents on the dollar, consistent with the liquidation analysis in Exhibit A and projected disposable income in Exhibit B. This Plan also provides for the payment of administrative and priority claims. Class 3 consists of all Allowed General Unsecured Claims, including trade debt, credit card debt, the unsecured deficiency claim of First Internet Bank of Indiana in the amount of approximately $655,921.35, the unsecured claims of WebBank and Libertas Funding, LLC, and any Allowed claim arising from rejection of the Seaside lease. The Debtor shall pay holders of Allowed Class 3 Claims a distribution equal to five percent of their Allowed Claims, paid pro rata from a plan distribution fund over sixty months following the Effective Date, without interest. Class 3 is impaired. Subtotal of claims before lease rejection damages shall be $1,100,167.49. This Class shall receive 60-month pot payment of $916.81/month or 5% dividend ($55,008.38). Class 4 consists of equity security holders of the Debtor. Hector Capello retains 100% ownership. Plan payments shall be funded from ongoing bakery operations, future disposable income, and revenue generated by Paris Bakery. The reorganized debtor shall continue operating the business following confirmation. Hector Capello shall remain sole shareholder, director, and manager of the reorganized debtor and shall act as disbursing agent. A full-text copy of the Plan of Reorganization dated June 26, 2026 is available at https://urlcurt.com/u?l=IAOvyx from PacerMonitor.com at no charge. Counsel to the Debtor: Arasto Farsad, Esq. Nancy Weng, Esq. FARSAD LAW OFFICE, P.C. 1625 The Alameda, Suite 525 San Jose, CA 95126 Telephone: (408) 641-9966 Facsimile: (408) 866-7334 E-mail: af@farsadlaw.com nancy@farsadlaw.com About HyperMind Corp. HyperMind Corp., doing business as Paris Bakery, has operated since the mid-1980s, selling breads, pastries, and cafe items through retail locations in Monterey and Seaside while supplying restaurants, hotels, and coffee houses with wholesale baked goods. Founded by Jackie Jegat, who trained in France, the bakery was sold in 2024 to new owner Hector Capelo, who continues operations offering croissants, baguettes, specialty pastries, and espresso drinks. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Cal. Case No. 26-50528) on April 1, 2026. In the petition signed by Hector Capelo, CEO, the Debtor disclosed $193,247 in total assets and $1,680,424 in total liabilities. Judge Stephen L. Johnson oversees the case. Arasto Farsad, Esq., at Farsad Law Office, P.C., represents the Debtor as bankruptcy counsel. IMAGE DENTAL: Creditors to Get Proceeds From Liquidation -------------------------------------------------------- Image Dental Arts, Inc., filed with the U.S. Bankruptcy Court for the Northern District of Indiana a Plan of Liquidation dated June 26, 2026. The Debtor is an Indiana corporation. It was originally formed in 2003 by James Sommers, of Fort Wayne, Indiana. The business was engaged in the manufacturing of dental appliances including crowns, implants, and custom shading for tooth prosthetics. Within the last three years, the number of customers and online orders decreased, making it difficult to maintain day-to-day operations. Debtor operated out of a leased facility located at 3303 Trier Road, Fort Wayne, Indiana 46804, which was leased from Trier Pointe, LLC. With the significant reduction in the number of online orders and customer requests, Debtor was unable to maintain payment on operating expenses, and the operation of the business was ceased. As a result of the financial difficulties and closure of the business, Debtor filed Chapter 11 on March 30, 2026. The Debtor is pursuing an orderly liquidation of the assets of the business for distribution to creditors according to the herein proposed plan. As part of that process, on March 30, 2026, Debtor filed a Motion to Reject Lease of Real Estate which motion was granted by court order dated April 30, 2026. On May 14, 2026, Debtor and Creditor Source Bank filed a Joint Motion for Relief from the Automatic Stay and Abandonment with 30 Day Waiver (amended on June 9, 2026), which was granted by court order dated June 15, 2026. Class 13 consists of Unsecured, Non-Priority Claims. The Allowed Claims of this Class shall be paid on a pro rata basis from the Liquidation Proceeds from the sale and collection of the Debtor's assets after Classes 1 and 6 have been paid in full as soon as is practicable after Confirmation of the Plan. The Debtor, with the assistance of its counsel, shall proceed immediately upon Confirmation of the Plan with the sale of all its assets not subject to lien the proceeds of which (the Liquidation Proceeds) shall be remitted to the Disbursing Agent for distribution pursuant to the Plan. The bank account at D' Source Bank in the amount of approximately $5,814.91 consisting of proceeds of the Debtor's vehicle not subject to lien shall be included in the Liquidation Proceeds. The Debtor's 2015 Subaru Impreza may be sold practicably. In advance of Plan Confirmation, the Debtor may, with Court approval, commence the sale of assets and thereupon make payment thereof to a confirmation deposit account ("Confirmation Deposit Account") which shall be utilized in funding of Plan payments, such payments are referred to herein as "Pre-Confirmation Payments." A full-text copy of the Liquidating Plan dated June 26, 2026 is available at https://urlcurt.com/u?l=FdmKsv from PacerMonitor.com at no charge. Counsel to the Debtor: H. Faith Welch, Esq. Scot T. Skekloff, Esq. HallerColvin PC 444 E. Main St. Fort Wayne, IN 46802 Telephone: (260) 426-0444 Facsimile: (260) 422-0274 Email: fwelch@hallercolvin.com - and - Douglas R. Adelsperger, Esq. 111 West Wayne Street Fort Wayne, Indiana 46802 About Image Dental Arts Inc. Image Dental Arts Inc. was engaged in the manufacturing of dental appliances including crowns, implants, and custom shading for tooth prosthetics. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ind. Case No. 26-10354) on March 30, 2026, with $100,001 to $500,000 in assets and $500,001 to $1 million in liabilities. Heather Faith Welch, Esq., at Hallercolvin, P.C. represents the Debtor as legal counsel. IMPRIVATA INC: S&P Rates Extended First-Lien Credit Facilities 'B' ------------------------------------------------------------------ S&P Global Ratings assigned its 'B' issue-level rating and '3' recovery rating to Imprivata Inc.'s amended and extended first-lien credit facilities. The '3' recovery rating indicates its expectation of meaningful (50%-70%; rounded estimate: 60%) recovery in the event of a payment default. The credit facilities comprise a $1.2 billion first-lien term loan B that is now due December 2029 (extended from December 2027) and a $100 million revolving credit facility (subject to a three-month springing maturity inside of the term loan). S&P's 'B' issuer credit rating and stable outlook on Imprivata are unchanged. The amended terms include the coupon increasing to SOFR+375 from SOFR+300 and the repayment of $130 million using balance-sheet cash. There were also a few lender-friendly revisions, including additional protections against LME transactions and value leakage, and adding quarterly lenders call and MD&A. Pro forma S&P Global Ratings-adjusted leverage was about 5.8x as of March 31, 2026. There was $200 million total liquidity, including about $100 million in balance-sheet cash after a $130 million partial loan repayment, with full availability under its revolver. S&P expects interest expenses will be largely unchanged given the interest savings from the debt paydown will largely offset the higher coupon margin. S&P expects leverage and cash flow will continue to improve with support from revenue growth and EBITDA expansion. In 2025, the company grew in the high-single-digit percent area, with an S&P Global Ratings-adjusted EBITDA margin of around 40% and free cash flow of over $100 million. Issue Ratings--Recovery Analysis Key analytical factors -- S&P values the company on a going-concern basis using a 6.5x multiple of its projected distressed EBITDA, which reflects the company's growth prospects and high profitability relative to its software and services industry peers. -- S&P's simulated default scenario considers a default in 2029 due to a significant decline in revenue from increasing competition in the information technology security market and a failure to maintain technological leadership. -- In a default scenario, S&P estimates approximately 25% of Imprivata's recovery value would lie with its unrestricted foreign subsidiaries. Simulated default assumptions -- Year of default: 2029 -- Valuation multiple: 6.5x -- EBITDA at emergence: about $128 million Simplified waterfall -- Net enterprise value at default (after 5% administrative costs): approximately $792 million -- Estimated first-lien debt claims: approximately $1.3 billion -- Recovery expectations: 50%-70% (rounded estimate: 60%) Note: all debt amounts include six months of prepetition interest. INTERNATIONAL SUPPORT: Gets OK to Use Cash Collateral Until Aug. 11 ------------------------------------------------------------------- The U.S. Bankruptcy Court for the Southern District of Florida, Fort Lauderdale Division, entered a third interim order authorizing International Support Group, LLC to continue using cash collateral while its Chapter 11 case proceeds. The authorization remains effective through August 11, with a final hearing on the motion scheduled for that date. Creditors and other interested parties must file any objections to the final use of cash collateral by August 9. Under the order, the Debtor may use cash collateral only for expenses included in the approved budget, subject to a 10% variance for each budget line item. Any use of cash collateral outside the approved budget requires the consent of City National Bank. The Debtor acknowledged that City National Bank held a first-priority lien on substantially all of its assets as of the petition date, securing a claim of at least $1,452,643, although the court expressly reserved any final determination regarding the validity, extent, or priority of the bank's liens until a later date. Challenges to the bank's liens must also be filed by August 9, 2026. To provide adequate protection, the court granted City National Bank automatically perfected continuing and replacement liens on post-petition assets of the same type as its prepetition collateral, preserving the same validity, priority, and perfection without requiring additional filings. The Debtor must also make monthly adequate protection payments of $11,952.97 to City National Bank on or before the 20th of each month, maintain insurance on the collateral, and submit budget-to-actual reconciliation reports and accounts receivable aging reports by July 14 and August 10. The order also includes significant protections for City National Bank. The Debtor agreed not to pursue avoidance actions, preference claims, fraudulent transfer claims, surcharge claims under 11 U.S.C. section 506(c), or other causes of action against the bank, and expressly waived any such claims that might exist. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/EvfTf from PacerMonitor.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. J.B. HARRIS: Seeks Chapter 11 Bankruptcy w/ $2.9MM Unsecured Debt ----------------------------------------------------------------- On June 18, 2026, J.B. Harris, P.A., filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Southern District of Florida. According to court filings, the debtor reports between $1 million and $10 million in assets, between $1 million and $10 million in liabilities, and between one and 49 creditors. The firm is currently undergoing legal and financial restructuring while managing insolvency proceedings and the turnover of corporate assets stemming from prior litigation. In late 2024, the firm was subject to a court-ordered turnover of its stock interest to a creditor following disputes over fee-sharing agreements. A meeting of creditors under Section 341(a) to be Held on July 24, 2026, at 10:30 AM by TELEPHONE. About J.B. Harris, P.A. J.B. Harris, P.A. is a Miami, Florida-based law firm that historically specialized in Engle-progeny tobacco litigation. J.B. Harris, P.A. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 26-18018) on June 18, 2026. In its petition, the debtor reports estimated assets of $1 million to $10 million and estimated liabilities of $1 million to $10 million. Honorable Peter D. Russin is overseeing the case. The debtor is represented by David L. Rosendorf, Esq. JAGUAR HEALTH: Completes Series O Preferred Conversion ------------------------------------------------------ Jaguar Health, Inc. announced in a regulatory filing that it completed the conversion of its Series O Convertible Preferred Stock, par value $0.0001 per share. Effective as of 12:00 p.m. Eastern Time on June 25, 2026, all of the then outstanding shares of Series O Preferred Stock and all shares of Series O Preferred Stock issuable upon exercise of certain warrants to purchase shares of the Company's voting common stock, par value $0.0001 per share, with dividend rights, automatically converted into shares of Common Stock at a conversion ratio equal to 3.209 shares of Common Stock for each share of Series O Preferred Stock. Immediately upon completion of the Conversion, there were 4,857,211 shares of Common Stock issued and outstanding, and the holders of the Eligible Warrants are entitled to receive, upon exercise of the Eligible Warrants, up to 839,000 shares of Common Stock, which consist of 68,593 Warrant Shares (as defined in the Eligible Warrants) and 770,407 Conversion Shares. As previously disclosed, on March 4, 2026, the Company paid a special one-time dividend of one-tenth of one share of Series O Preferred Stock for each of the approximately 354,836 shares of Common Stock outstanding, plus each share issuable upon exercise of the Eligible Warrants outstanding, at the close of business on March 2, with the aforementioned numbers of shares of Common Stock adjusted retroactively to give effect to the 1-for-35 reverse stock split of the Company's issued and outstanding shares of Common Stock that took effect on April 30. About Jaguar Health Jaguar Health, Inc., is a San Francisco-based commercial-stage pharmaceutical company focused on plant-based prescription medicines. Its Napo Pharmaceuticals subsidiary develops and commercializes gastrointestinal products, including crofelemer-based therapies. The company also works on rare-disease and intestinal-failure indications through Napo Therapeutics and related development programs. In an audit report dated April 7, 2026, RBSM LLP included a going-concern explanatory paragraph, citing an accumulated deficit, recurring losses and expected continuing future losses. The conditions raised substantial doubt about the company's ability to continue as a going concern. As of March 31, 2026, Jaguar Health reported total assets of $37.43 million, total liabilities of $53.19 million and stockholders' deficit of $15.75 million. JJ STUCKEY: Gets Interim OK to Use Cash Collateral -------------------------------------------------- JJ Stuckey & Partners, LLC received third interim approval from the U.S. Bankruptcy Court for the Eastern District of North Carolina to use cash collateral through July 31. Under the third interim order, the Debtor is authorized to use cash collateral according to approved budgets covering the period from July 1 to 31, subject to a 10% variance per line item. The Huntington National Bank (as successor to TCF Equipment Finance), First Internet Bank of Indiana (as successor to ApplePie Capital), and National Funding, Inc. may claim liens on the Debtor's cash, operating revenues, and receivables, including funds in pre-petition accounts based on UCC filings. The asserted liens may extend to equipment and other assets that could constitute cash collateral, though their validity and scope remain undetermined and are subject to challenge by the Debtor. As protection, the liens held by secured creditors on their collateral extend to the Debtor's post-petition assets. In addition, the order requires the Debtor to remain current on all post-petition tax obligations and prohibits dispositions of assets outside the ordinary course of business without lender consent and court approval. The order is available at https://shorturl.at/0MEZG The next hearing is scheduled for July 22. JJ Stuckey & Partners operates two Jimmy John's franchise restaurants in Jacksonville, North Carolina: one on Lejeune Boulevard and another on Western Boulevard. Its revenue is derived entirely from restaurant operations. About JJ Stuckey & Partners LLC JJ Stuckey & Partners, LLC operates two Jimmy John's franchise restaurants in Jacksonville, North Carolina. JJ Stuckey & Partners filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. E.D. N.C. Case No. 26-02110) on May 8, 2026, with up to $100,000 in assets and up to $10 million in liabilities. Kathleen O'Malley serves as Subchapter V trustee. Judge Joseph N. Callaway oversees the case. George Mason Oliver, Esq., at The Law Offices of George Oliver, PLLC, represents the Debtor as legal counsel. JPK NEWCO: Developer RE1, et al. Can Appeal Interlocutory Order --------------------------------------------------------------- Judge Sparkle L. Sooknanan of the U.S. District Court for the District of Columbia granted the motion of Developer RE1, LLC and 423 Kennedy St Holdings, LLC for leave to appeal an interlocutory order of the U.S. Bankruptcy Court for the District of Columbia denying their motion to dismiss JPK NewCo, LLC's Chapter 11 bankruptcy petition. The Movants allege that JPK NewCo's petition was filed in bad faith. They also contend that the Bankruptcy Court erred when it found otherwise and refused to permit them to conduct related discovery. The Movants argue that "there is substantial uncertainty" about whether the Bankruptcy Court applied the proper standard to deny their motion to dismiss -- and their associated request for discovery -- because bankruptcy courts differ on what constitutes bad faith and what determinations can be made without a development of the factual record. The District Court agrees that the Movants have raised an issue appropriate for interlocutory resolution, and it thus grants them leave to appeal. This Court finds given the absence of controlling precedent in this Circuit, and the conflicting decisions in other circuits, the Movants have sufficiently demonstrated that there is substantial ground for difference of opinion regarding the proper standard for determining when a Chapter 11 petition should be dismissed for bad faith. A copy of the Court's Memorandum Opinion dated July 2, 2026, is available at http://urlcurt.com/u?l=zEcylX from Pacermonitor.com. About JPK Newco LLC JPK Newco LLC is a real estate investment and lending company that holds junior liens on properties in Washington, D.C. Its assets include subordinate interests in real estate valued at over $3 million and a minority stake in an energy company. The firm operates in the private real estate financing sector, specializing in secured lending and investment holdings. JPK Newco LLC sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.D.C. Case No. 25-00200) on May 27, 2025. In its petition, the Debtor reports total assets of $3,111,937 and total liabilities of $55,172. Bankruptcy Judge Elizabeth L. Gunn handles the case. The Debtors are represented by Jeffrey M. Orenstein, Esq. at WOLFF & ORENSTEIN LLC. KAIZEN CLEANING: Frederick Bunol Named Subchapter V Trustee ----------------------------------------------------------- The Acting U.S. Trustee for Region 5 appointed Frederick Bunol as Subchapter V trustee for Kaizen Cleaning Solutions, LLC. Mr. Bunol will be paid an hourly fee of $400 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Bunol declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Frederick L. Bunol 3027 Ridgelake Drive Metairie, LA 70002 Email: Fbunol@derbeslaw.com Telephone: (504) 207-0913 Facsimile: (504) 832-0327 About Kaizen Cleaning Solutions LLC Kaizen Cleaning Solutions, LLC is an Addis, Louisiana-based provider of janitorial and commercial cleaning services. The company specializes in cleaning healthcare, dental, and industrial facilities across more than 16 municipalities and operates three service locations. Kaizen Cleaning Solutions sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Louisiana Case No. 26-10573) on June 25, 2026. In its petition, the Debtor reports estimated assets between $50,000 and $100,000 and estimated liabilities between $100,000 and $500,000. Honorable Bankruptcy Judge Michael A. Crawford handles the case. The Debtor is represented by Ryan James Richmond, Esq. of Sternberg, Naccari & White, LLC. LA TENTACION PIZZA: Nicole Nigrelli Named Subchapter V Trustee -------------------------------------------------------------- The U.S. Trustee for Regions 3 and 9 appointed Nicole Nigrelli, Esq., at Ciardi, Ciardi & Astin as Subchapter V trustee for La Tentacion Pizza & Tex Mex Grille, LLC. Ms. Nigrelli will be paid an hourly fee of $475 for her services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Ms. Nigrelli declared that she is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Nicole M. Nigrelli, Esq. Ciardi, Ciardi & Astin 1905 Spruce Street Philadelphia, PA 19103 Phone: (215) 557-3550 ext. 115 Email: nnigrelli@ciardilaw.com About La Tentacion Pizza & Tex Mex Grille La Tentacion Pizza & Tex Mex Grille, LLC, sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. N.J. Case No. 26-17458) on June 29, 2026, with $100,001 to $500,000 in assets and $500,001 to $1 million in liabilities. E. Richard Dressel, Esq., at Lex Nova Law, LLC represents the Debtor as bankruptcy counsel. LAYLA CONSULTING: Yann Geron Named Subchapter V Trustee ------------------------------------------------------- The U.S. Trustee for Region 2 appointed Yann Geron, Esq., at Geron Legal Advisors, LLC as Subchapter V trustee for Layla Consulting Center Inc. Mr. Geron will be paid an hourly fee of $975 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Geron declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Yann Geron, Esq. Geron Legal Advisors, LLC 370 Lexington Avenue, Suite 1101 New York, NY 10017 Phone: (646) 560-3224 Email: ygeron@geronlegaladvisors.com About Layla Consulting Center Inc. Layla Consulting Center, Inc. is a Jackson Heights, New York-based healthcare practitioner business providing healthcare-related professional and consulting services. The company operates within the healthcare services sector, serving patients and clients in the New York metropolitan area. Layla Consulting Center sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.Y. Case No. 26-43110) on June 24, 2026. In its petition, the Debtor reports estimated assets of up to $50,000 and estimated liabilities of $100,000 to $500,000. Honorable Bankruptcy Judge Elizabeth S. Stong handles the case. The Debtor is represented by Christal Cammock, Esq., at Christal A. Cammock, P.C. LINDY’S ON 4TH: Gets Interim OK to Use Cash Collateral -------------------------------------------------------- Lindy's On 4th Ave, LLC received interim approval from the U.S. Bankruptcy Court for the District of Arizona to use cash collateral. The interim authorization remains effective through the final hearing scheduled for July 21, providing the Debtor with temporary access to funds needed to maintain operations during the Chapter 11 proceedings. The Debtor is required to supplement its current budget by filing a detailed ongoing budget no later than July 10. The Debtor's cash collateral consists of revenue from its Tucson restaurant, which may be subject to creditors' security interests. The creditors that have filed Uniform Commercial Code financing statements against the Debtor include Middesk, Inc., VState Filings, Alternative Funding Group Corp., CT Corporation System, Epic Advance, LLC, Corporation Service Company, and Liquifi Capital Group, LLC. The Debtor reserves its rights to challenge those claims. Any creditor holding a valid pre-bankruptcy security interest will be granted adequate protection through replacement liens on assets acquired by the Debtor after the petition date similar to its pre-petition collateral. The order is available at http://bankrupt.com/misc/LINDYSON4TH_ICCOrder27.pdf Lindy's operates a restaurant at 500 N. 4th Avenue in Tucson and employs 13 workers. The business leases, rather than owns, its premises from LSB Properties LLC. According to the filing, the restaurant's financial distress resulted primarily from its reliance on multiple merchant cash advance financing agreements. These short-term financing arrangements required lenders to continuously withdraw funds directly from the restaurant's bank accounts through daily "sweeps," forcing the business into an unsustainable cycle of borrowing additional money simply to maintain operations. The Chapter 11 filing was intended to stop these automatic withdrawals, restore control over the Debtor's bank accounts, and provide an opportunity to reorganize its debts through a structured repayment plan. About Lindy's On 4th Ave LLC Lindy's On 4th Ave, LLC is a Tucson, Arizona-based hospitality company that operates Lindy's on 4th, a restaurant and bar known for its burgers, craft beverages, and casual dining experience in the city's historic Fourth Avenue district. Lindy's On 4th Ave, LLC sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-06107) on June 21, 2026. In its petition, the Debtor reported estimated assets of up to $100,000 and estimated liabilities of $100,001 to $1 million. Honorable Bankruptcy Judge Brenda Moody Whinery oversees the case. The Debtor is represented by Jody A. Corrales, Esq., at DeConcini McDonald Yetwin & Lacy P.C. LOFTS AT NORTH: Voluntary Chapter 11 Case Summary ------------------------------------------------- Debtor: Lofts at North Penn Best Living LLC 1412 Main St. Dallas, TX 75202 Business Description: Lofts at North Penn Best Living LLC is a property-owning limited liability company that owns The Lofts at North Penn, a 192-unit multifamily apartment community located at 15501 N. Pennsylvania Ave., Edmond, Oklahoma. Chapter 11 Petition Date: July 2, 2026 Court: United States Bankruptcy Court Northern District of Texas Case No.: 26-32920 Debtor's Counsel: Joyce Lindauer, Esq. LINDAUER & VAUGHN 117 S. Dallas St. Ennis, TX 75119 Tel: (972) 503-4033 E-mail: joyce@joycelindauer.com Estimated Assets: $10 million to $50 million Estimated Liabilities: $10 million to $50 million The petition was signed by Marc Kulick as authorized signer. 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/4V664KQ/Lofts_at_North_Penn_Best_Living__txnbke-26-32920__0001.0.pdf?mcid=tGE4TAMA M2I GLOBAL: Cites $3 Billion in Critical-Minerals Opportunities --------------------------------------------------------------- M2i Global, Inc. said its projects represent about $3 billion of identified capital investment opportunities and more than $12 billion of potential financing pathways, according to a Form 8-K filing with the Securities and Exchange Commission. The company said those figures are identified opportunities and project pathways, not contracted revenue or binding commitments. The disclosure followed a June 23, 2026, shareholder conference call led by Chief Executive Officer Alberto Rosende. M2i said management reviewed the final version of an agreement to lease the company's first location at the Hawthorne Army Depot for a planned critical mineral repository and expects to announce the lease's completion in the near term. The company also said its commercial pipeline includes copper offtake arrangements and discussions involving gallium, vanadium, titanium, graphite, cobalt and nickel. Deliveries under a previously announced copper offtake arrangement have been delayed and are not expected to begin until the next calendar year. M2i said it is pursuing federal engagement efforts, including a Department of Energy application for a nickel-cobalt processing facility and participation in Defense Industrial Base Consortium programs. The company said it is actively seeking additional capital and expects to begin generating revenue on certain project lines by the end of calendar 2026. About M2i Global Inc. M2i Global, Inc., is an Incline Village, Nevada-based critical minerals and metals company focused on securing reliable access to critical minerals and materials for the U.S., its allies and partners. The company's strategic focus is on securing supply for national defense, economic stability, advanced manufacturing and energy infrastructure. Its planned business lines include mining, processing and refining; scrap and recycling; and government and defense industrial base activities. M2i also has pursued strategic partnerships and offtake arrangements involving critical minerals, including copper. In an audit report dated April 14, 2026, TAAD, LLP issued a going concern opinion, citing the company's limited revenues and recurring losses as raising substantial doubt about its ability to continue as a going concern. As of March 31, 2026, M2i Global reported total assets of $170,196, total liabilities of $8.28 million and a stockholders' deficit of $8.11 million. MEI REAL ESTATE: Claims to be Paid from Property Sale Proceeds -------------------------------------------------------------- MEI Real Estate LLC filed with the U.S. Bankruptcy Court for the Southern District of Texas a Combined Plan of Liquidation and Disclosure Statement dated June 26, 2026. The Debtor owns real property in Chambers County, Texas. The Debtor's principal is Lanny McIlvain. The Debtor's scheduled assets consist primarily of real property valued in the aggregate at $890,120. The scheduled parcels are: * An undeveloped 4,208-acre tract of land situated in Lots 3 & 4, Block-9 in the Winnie Suburbs Subdivision, Jas Hoggatt League, A-14, in Chambers County, Texas, scheduled value $320,000 (the "4-Acres"). * An undeveloped 11.97-acre tract situated in the W. A. Roskopf Survey, Abstract No. 573, in Chambers County, Texas scheduled value $120,120. (the "12-Acres"). * Two tracts of land, Tract One 19.754-acre tract out of the T. & N.O.R.R. Section #33, A-264 in Chambers County, Texas and Tract Two 25.006-acre tract out of the T. & N.O.R.R. Section #33, A-264 in Chambers County, Texas, scheduled value $450,000. These two tracts are referred to as the "45-Acres." Ursa Major Financial LLC will purchase the Estate Property for $812,000 cash. Ursa Major Financial will fund the purchase price from cash on hand. The purchase price is sufficient to pay all known estimated claims in full, based on the Debtor's current creditor schedule. Ursa Major Financial LLC and Beaufort Acquisitions, Inc. are related by common ownership. Lanny McIlvain is unrelated to Ursa Major Financial LLC and Beaufort Acquisitions, Inc. Because Ursa Major Financial and Beaufort are related, the Debtor discloses the relationship expressly and will request that the Bankruptcy Court find that the transaction is proposed in good faith, is fully disclosed, is fair to creditors, and produces a superior result to conversion or dismissal. Ursa Major Financial LLC will grant Lanny McIlvain a 120-day option to acquire the property for $820,000. The option is not property of the Debtor after closing and will not reduce the funds available to pay creditors. The purpose of the option is to give McIlvain an opportunity to acquire the assets while giving Beaufort and the estate an immediate exit strategy. McIlvain may or may not be able to perform under the option. The Plan does not depend on McIlvain's future performance. The McIlvain Option is a post-closing contractual right granted solely by Ursa Major Financial LLC from its own assets after acquisition of title and is not consideration payable by the Debtor's estate. Class 6 consists of any Allowed General Unsecured Claims not otherwise classified. The Debtor is not presently aware of any scheduled nonpriority unsecured creditors, but any Allowed General Unsecured Claim shall be paid in full if allowed. Class 7 consists of ownership interests in the Debtor. Class 7 shall receive no distribution unless all Allowed Claims are paid in full and surplus funds remain. On the Effective Date, the Debtor shall sell, transfer, assign, and convey the Estate Property to Ursa Major Financial LLC for $812,000 cash. Ursa Major Financial LLC shall fund the purchase price from cash on hand. The Plan is not dependent on third-party financing. A full-text copy of the Combined Plan and Disclosure Statement dated June 26, 2026 is available at https://urlcurt.com/u?l=4wiRZK from PacerMonitor.com at no charge. Counsel to the Debtor: LAW OFFICES OF LARRY A. VICK Larry A. Vick, Esq. 13501 Katy Freeway, Suite 3474 Houston, Texas 77079 Tel: (713) 239-1062 Fax: (832) 202-2821 About MEI Real Estate LLC MEI Real Estate LLC owns real property in Chambers County, Texas. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 25-80548) on Nov. 3, 2025, with $500,001 to $1 million in assets and liabilities. Judge Alfredo R. Perez presides over the case. Larry A. Vick, at the Law Office Of Larry Vick, is the Debtor's legal counsel. MENTORING AND BEHAVIORAL: William Harris Named Subchapter V Trustee ------------------------------------------------------------------- Mark Zimlich, the U.S. Bankruptcy Administrator for the Southern District of Alabama, appointed William H. Harris as Subchapter V Trustee for Mentoring and Behavioral Services (MBS) LLC. About Mentoring and Behavioral Services (MBS) Mentoring and Behavioral Services (MBS), LLC provides Applied Behavioral Analysis therapy and individual counseling therapy for children. It operates in Mobile, Alabama and Columbus, Georgia. Mentoring and Behavioral Services (MBS) filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. S.D. Ala. Case No. 26-11917) on June 29, 2026, with up to $50,000 in assets and $1 million to $10 million in liabilities. Judge Jerry C. Oldshue presides over the case. Barry A. Friedman, Esq., at Barry A. Friedman & Associates, PC represents the Debtor as legal counsel. MERCER INTERNATIONAL: Moody's Lowers CFR to Caa3, Outlook Stable ---------------------------------------------------------------- Moody's Ratings downgraded Mercer International Inc.'s (Mercer) corporate family rating to Caa3 from Caa1, probability of default rating to Caa3-PD from Caa1-PD, and the senior unsecured debt ratings to Ca from Caa2. The Speculative Grade Liquidity Rating (SGL) remains unchanged at SGL-4. The outlook remains stable. The downgrade of Mercer's ratings reflects the likelihood of a distressed exchange or balance sheet restructuring due to Moody's expectations of persistently high leverage, low interest coverage and free cash flow deficits as Moody's expects increased fiber costs, weak pulp pricing and lower demand to continue at least until 2027. The downgrade also reflects a limited liquidity runway as the company's two revolving credit facilities face expiration in January and September 2027. RATINGS RATIONALE Mercer's rating (Caa3 CFR) is constrained by heavy reliance on its soon to be expiring revolving credit facilities raises the probability of debt restructuring; high financial leverage, weak liquidity and low interest coverage through 2027; Moody's expectations of increased fiber costs and pressured pulp markets at least until 2027; the inherent price volatility of market pulp and lumber which results in high leverage during trough market prices; and high product concentration with approximately 75% of sales and essentially all of EBITDA tied to pulp. Mercer's rating benefits from its leading global market position in northern bleached softwood kraft (NBSK) pulp; modest earning contributions from relatively stable energy and chemical business segment; operational flexibility and geographic diversity with several pulp mills in Germany and Canada, mass timber facilities in the US and wood product facilities in Germany. Mercer has weak liquidity (SGL-4). Liquidity sources total about $210 million compared with about $294 million in uses through December 2027. As of March 2026, the company has about $85 million in cash and short-term investments. It also has about $125 million of availability under the German revolving credit facility expiring in September 2027. While the total commitment of the German revolving credit facility is $420 million (EUR370 million), its utilization is limited to $341 million (EUR300 million) by a leverage covenant exceeding 2.0x. Uses of liquidity include about $200 million of Moody's expected free cash flow consumption through December 2027 and repayment of $94 million drawn on the company's $113 million (CAD160 million) Canadian revolving credit facility expiring January 2027. Mercer will rely on its credit facilities to cover the cash flow deficit. There is presently a waiver on the German credit facility's financial covenant until the fourth quarter of 2026. Due to increased borrowings and lower German EBITDA, Moody's expects Mercer to fail this covenant if an extension to the waiver is not secured beyond then. The Ca ratings on the company's senior unsecured notes, which is one notch below the Caa3 CFR, reflects the structural subordination to the Canadian revolving credit facility and other indebtedness and liabilities of the operating subsidiaries. The company's senior unsecured notes do not benefit from operating subsidiary guarantees. The stable outlook reflects Moody's expectations that financial leverage will continue to be high. It also reflects the likelihood that the expected loss for lenders would be in line with the assumptions of the current ratings level if a distressed exchange or restructuring is pursued. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS Mercer's ratings could be downgraded if the company announces a distressed exchange or a default-like transaction. Mercer's ratings could be upgraded if the company is able to improve its capital structure substantially reducing its debt balance, and the company's liquidity and operating performance improve such that the company is able to generate positive free cash flow. Mercer International Inc. is a leading producer of NBSK pulp, operates two large lumber mills in Germany, and is a leader in mass timber in North America. The company is incorporated in the State of Washington and headquartered in Vancouver, British Columbia. The principal methodology used in these ratings was Paper and Forest Products published in November 2025. METALWORKING LUBRICANTS: Gets Extension to Access Cash Collateral ----------------------------------------------------------------- Metalworking Lubricants Company received second interim approval from the U.S. Bankruptcy Court for the Eastern District of Michigan to use cash collateral through July 13. Under the second interim order, the Debtor is authorized to use up to $1,023,240 in cash collateral, plus a 20% variance, to fund operating expenses in accordance with the updated budget. The Debtor is required to submit a revised 13-week budget to JPMorgan Chase Bank, N.A. each week for review and approval, together with supporting documentation. Weekly variance reports comparing actual receipts and disbursements with budgeted amounts must also be provided, and operating expenses may not exceed approved budget levels by more than 20% without JPMorgan's written consent or further court approval. As adequate protection, JPMorgan and any other secured creditors with interests in the cash collateral received replacement liens on post-petition collateral of the same type as their pr-petition collateral, to the extent of any diminution in value, excluding Chapter 5 avoidance actions. T The Debtor is also authorized to continue making monthly interest payments of $18,500 to JPMorgan, with the lender permitted to automatically debit those payments from the designated debtor-in-possession account in accordance with prepetition practices. A final hearing will be held on July 13. About Metalworking Lubricants Company Metalworking Lubricants Company is a manufacturer and marketer of industrial lubricants and related products, including cutting oils, hydraulic fluids, greases, cleaners, quenching fluids, rust inhibitors, and specialty compounds used in metalworking and industrial applications. The company operates from two facilities: a headquarters and primary manufacturing location in Pontiac, Michigan, and a second facility in Indianapolis, Indiana. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Mich. Case No. 26-46501-lsg) on June 5, 2026. In the petition signed by Keith Johnson, co-president, the Debtor disclosed up to $10 million in both assets and liabilities. Judge Lisa S. Gretchko oversees the case. Mark H. Shapiro, Esq., at Steinberg Shapiro & Clark, represents the Debtor as legal counsel. MICHELLE ANNE: Unsecureds Will Get 4.90% of Claims in Plan ---------------------------------------------------------- Michelle Anne Company, filed with the U.S. Bankruptcy Court for the Western District of Texas a Plan of Reorganization under Subchapter V dated June 25, 2026. The Debtor was operating independently as a sole proprietor doing business as Lashes de Bella which opened in 2013. In March 2016, Michelle Anne Company, LLC was officially formed and continued to operate as Lashes de Bella providing esthetic services such as facials, eyelash extensions, and laser hair removal. The Debtor is currently owned 100% by Michelle Flores. Michelle Flores will remain managing member of the Reorganized Debtor. There will be no change in the ownership of the business. The Debtor was operating business and was otherwise successful until the COVID-19 pandemic completely halted its operations. In order to survive and sustain itself, Debtor turned to the SBA for financial support utilizing a reduced payment option that only lasted a certain amount of time. After 2020, Debtor attempted to expand operations by opening up a second location. Both locations were generating revenue for a while, however, as the economy fluctuated so did its loyal clientele base. When the SBA reduced payments were no longer available, Debtor found it difficult to maintain payments to the SBA, supporting its two locations, and finding new clients. Shortly after closing its second location, Debtor sought Chapter 11 protections to reorganize its debt. Based on the plan projections, the Debtor's total projected disposable income, as that term is defined by section 1191(d), to be committed to the payment of claims for the period described in section 1191(c)(2) for sixty months is $75,065.00. This Plan of Reorganization under chapter 11 of the Bankruptcy Code proposes to pay creditors of the Debtor from income generated from continued operations of the Debtor. Treatment of Creditors' claims is determined by which class such claim belongs to. Claims have been classified below in accordance with section 1122 of the Code. The Debtor's Plan of Reorganization provides for the continued operations of the Debtor to make payments to its creditors as set forth in this Plan. Debtor proposes to pay allowed claims based on the liquidation analysis and cash available. Debtor anticipates having enough business and cash available to fund the plan and pay the creditors pursuant to the proposed plan. It is anticipated that after confirmation, the Debtor will continue in business. Based upon the projections, the Debtor believes it can service the debt to the creditors. Class 2 consists of General Unsecured Claims. These unsecured creditors shall receive a pro rata distribution at zero percent per annum. These payments shall begin on the 15th day of the calendar month following the Effective date of the plan and continuing on the 15th day of each month thereafter. The payments shall be made from the unsecured creditors pool that is being distributed to unsecured creditors over the life of the Plan. Debtor will pay 4.90% of the total claims. The allowed unsecured claims total $712,022.61. This Class is impaired. Equity Interest holder Michelle Flores shall not receive any distribution from Plan Payments. A full-text copy of the Plan of Reorganization dated June 25, 2026 is available at https://urlcurt.com/u?l=ueIi8v from PacerMonitor.com at no charge. Counsel for the Debtor: Robert C. Lane, Esq. The Lane Law Firm, PLLC 6200 Savoy, Suite 1150 Houston, TX 77036 Telephone: (713) 595-8200 Facsimile: (713) 595-8201 E-mail: notifications@lanelaw.com About Michelle Anne Company Michelle Anne Company owns an esthetic and skincare studio. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Tex. Case No. 26-10524-smr) on March 27, 2026. In the petition signed by Michelle Flores, owner, the Debtor disclosed up to $50,000 in assets and up to $1 million in liabilities. Judge Shad M. Robinson oversees the case. Robert C Lane, Esq., at The Lane Law Firm, represents the Debtor as legal counsel. MIRO HOUSE: Seeks Subchapter V Bankruptcy in California ------------------------------------------------------- On June 19, 2026, Miro House Inc. filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Central District of California. According to court filings, the Debtor reports between $1 million and $10 million in liabilities, with 1-49 creditors. A meeting of creditors under Section 341(a) to be held on July 13, 2026 at 03:00 PM at UST-LA2, TELEPHONIC MEETING. CONFERENCE LINE:1-888-330-1716, PARTICIPANT CODE:8009991. Deadline to file the Statement of Financial Affairs (Form 107 or 207) is July 6, 2026. The Chapter 11 Subchapter V Plan must be filed by September 17, 2026. About Miro House Inc. Miro House Inc., a Los Angeles, CA-based interior design services provider, operates under the Mavens of Design brand. Based in Westlake Village, California, the company provides boutique interior design services through a team of specialized design professionals. Miro House Inc. sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-16176) on June 19, 2026. In its petition, the Debtor reported estimated assets of $500,000 to $1 million and estimated liabilities of $1 million to $10 million. Honorable Bankruptcy Judge Barry Russell is overseeing the case. The Debtor is represented by Laura Portillo, Esq., of Portillo Ronk Legal Team. MOUNTAINEER MERGER: S&P Affirms 'CCC' ICR, Outlook Negative ----------------------------------------------------------- S&P Global Ratings affirmed its 'CCC' issuer credit rating on U.S.-based off-price retailer Mountaineer Merger Corp, (dba Gabe's), its 'CCC-' issue-level rating on the $106.7 million priming term loan (recovery rating: '5'), and its 'CC' issue-level rating on the $2.6 million initial term loan due in 2030 (recovery rating: '6'). S&P said, "We also assigned our 'CCC-' issue-level rating and '5' recovery rating to the company's new $9 million incremental priming term loan and new $16 million second priming delayed-draw term loan. "The negative outlook reflects the risk of setbacks in the turnaround efforts that could lead us to believe a restructuring is inevitable in the next six months." Despite the recent liquidity injection, Gabe's could face a shortfall in the next 12 months. The company has not yet generated consistently positive reported free operating cash flow (FOCF). It posted a deficit of $46 million in the first quarter and relies on external sources of liquidity to support its operations and execute its turnaround plan. S&P forecasts reported FOCF deficit of about $30 million in 2026, driven by inventory investments and continued weak operating margins, with the deficit continuing in 2027. In May 2026, Gabe's secured $25 million in incremental funding, comprising a $9 million in incremental priming term loan and $16 million in second priming delayed-draw term loan. The new loans, which have interest of SOFR plus 800 basis points (bps), allow for the option of 700 bps of payment in kind (PIK) and do not have annual amortization. This liquidity enabled the company to invest in inventory and address the overdue payments to its main suppliers. While the PIK interest feature will alleviate FOCF pressure in the short term, it will create an additional hurdle to credit metrics as it accrues. The PIK interest feature will likely preserve about $10 million in cash over the next 12 months. S&P forecasts S&P Global Ratings-adjusted funds from operations (FFO) cash interest coverage improving to 1.3x in 2026 and 1.5x in 2027 from 0.9 in 2025 due to lower cash interest expenses and improved operating margins. Turnaround efforts have required more liquidity injections than projected. Since completing its out-of-court restructuring in August 2025, Gabe's has received approximately $95 million through debt transactions with lenders that are also shareholders. While these lenders have provided capital in the past, S&P does not assume additional support in S&P's forecast because it is not certain, and underperformance could lead to restructuring. S&P said, "We view the company's liquidity as weak. Delays in realizing benefits from turnaround initiatives could trigger a breach under the asset-based lending (ABL) facility due in 2027 given the tight headroom. During the forbearance period (ending Sept. 1, 2026), variance testing covenants restrict deviations of actual cash disbursement and cash and inventory receipts from the company's budget. While the budget assumes a large improvement in revenue and EBITDA for 2026 compared to the same period last year, we believe difficult operating conditions--caused by lack of adequate liquidity, inflation, and elevated competition--could pose risks to these targets." Despite repaying a portion of the outstanding debt under its ABL facility, the company's full access to the credit facility has been restricted because of lower inventory levels, borrowing base reductions, and the $17.5 million minimum excess availability covenant. As a result, S&P expects the company will face challenges investing in inventory and in its store fleet, which can limit operating performance improvements. Improvement depends on successfully executing the turnaround plan. The company has not fully benefitted from its off-price business model in the past two years due to OTP integration challenges and slow inventory turnover. While supply chain disruptions typically create opportunities for off-price retailers, liquidity constraints hinder its ability to acquire excess inventory and expand its business operations, weakening its competitive position. To address these issues, the company has focused on improving its treasure hunt shopping experience, keeping inventory fresh, reducing costs, and closing or converting its stores under the OTP brand to the Gabe's format. While adjusted EBITDA margin improved to 1.9% in the first quarter compared to 0.6% in the same period last year, it is insufficient to demonstrate a turnaround. S&P said, "We forecast revenue will decline 2% this year compared to 13.8% last year as revenue starts to stabilize in 2026. While we expect fresher inventory will improve traffic, inflationary pressure remains a risk as it compresses purchasing power of the company's lower-income core customer base. In addition, we expect adjusted EBITDA margin will improve but remain weak at 7.1% this year compared to 5.5% in 2025, supported by turnaround efforts. "The negative outlook reflects the risk of setbacks in the ongoing turnaround that could lead us to believe a restructuring is inevitable in the next six months. "We could lower our rating on Gabe's if we think a default is inevitable within the next six months. This includes a payment default, distressed exchange, or balance-sheet restructuring. "We could take a positive rating action on Gabe's if cash flow or liquidity improves such that we don't expect a default in the next 12 months." MY VAPE: Gets Extension to Access Cash Collateral ------------------------------------------------- The U.S. Bankruptcy Court for the Middle District of Florida, Jacksonville Division, entered a third interim order authorizing My Vape Order, Inc. to continue using cash collateral. Under the interim order, the Debtor is authorized to use cash collateral to pay approved operating expenses contained in its budget, with flexibility of up to 10% for each budget line item, as well as quarterly fees owed to the U.S. Trustee and any additional expenditures expressly approved in writing by the secured creditor, Pyxus International, Inc. The authorization remains in effect until further order of the court. As adequate protection, each secured creditor with an interest in the cash collateral receives an automatically perfected post-petition replacement lien on cash collateral with the same validity, priority, and extent as its pre-petition lien, without requiring additional filings. The debtor must continue performing all obligations of a debtor-in-possession, maintain insurance coverage required under its loan documents, and provide the secured creditor, upon reasonable notice, access to its business records and premises for inspection. The order also requires the Debtor to make monthly cash collateral payments of $1,500 to the secured lender while clarifying that this payment is made without prejudice to a later determination of the creditor's secured status. The order preserves the rights of the secured creditor to seek additional adequate protection, the U.S. Trustee to appoint a creditors' committee, and any future committee to challenge the validity, priority, or extent of asserted liens. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/0wpTs from PacerMonitor.com. About My Vape Order Inc. My Vape Order, Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 26-01900) on April 29, 2026. In the petition signed by Kyle Godfrey, chief executive officer, the Debtor disclosed up to $500,000 in assets and up to $10 million in liabilities. Judge Jacob A. Brown oversees the case. Bryan K. Mickler, Esq., at Law Offices of Mickler & Mickler, LLP, represents the Debtor as legal counsel. NANA'S B&B: Seeks Chapter 11 Bankruptcy After Landlord Lawsuit -------------------------------------------------------------- On June 18, 2026, Nana's B&B LLC filed for Chapter 11 Small Business (Subchapter V) protection in the U.S. Bankruptcy Court for the Eastern District of New York. According to court filings, the Debtor reports between $100,000 and $500,000 in liabilities, between $0 and $50,000 in assets, and 1-49 creditors. A meeting of creditors filed by the Office of the United States Trustee under 341(a) be held on July 20, 2026 at 02:15 PM at USA Toll-Free (888) 330-1716, USA Caller Paid/International Toll (713) 353-7024, Access Code 8185618. About Nana's B&B LLC Nana's B&B LLC is a Howard Beach, New York-based bed-and-breakfast inn operator. According to its bankruptcy petition, the company operates a bed-and-breakfast property in Brooklyn, New York. Nana's B&B LLC sought relief under Chapter 11 Small Business Subchapter V of the U.S. Bankruptcy Code (Bankr. Case No. 26-42968) on June 18, 2026. In its petition, the Debtor reported estimated assets of $0 to $50,000 and estimated liabilities of $100,000 to $500,000. Honorable Bankruptcy Judge Jil Mazer-Marino is overseeing the case. The Debtor is represented by Michael A. King, Esq. NEW YORK TAILORS: Claims to be Paid from Continued Operations ------------------------------------------------------------- New York Tailors Inc. filed with the U.S. Bankruptcy Court for the Eastern District of Virginia a Plan of Reorganization dated June 25, 2026. The Debtor is a Virginia corporation wholly owned and managed by Franklin Lim. The Debtor's principal place of business is located within the Pentagon in Arlington, Virginia. The Debtor has been in operation since December 2010 and provides tailoring, alterations, and dry-cleaning services primarily to Pentagon personnel. The Debtor employs three individuals in addition to Mr. Lim, including two full-time employees and one part-time employee. Following the COVID-19 pandemic, changes in workplace patterns and a reduction in the number of individuals regularly reporting to the Pentagon resulted in decreased customer traffic and reduced receipts. As the Debtor worked to address the impact of these reduced revenues and maintain operations, it obtained financing through the Small Business Administration ("SBA") and subsequently entered into financing arrangements with seven merchant cash advance lenders (the "MCA Lenders"). Prior to the commencement of this case, the Debtor experienced increasing demands for payment from the MCA Lenders. The Debtor ultimately determined that relief under Chapter 11, Subchapter V, was necessary to restructure its obligations, address creditor actions, and preserve its ongoing business operations. Since the Petition Date, the Debtor has continued operating its business from its Pentagon location and has continued to pay its ordinary course operating expenses. The Debtor has eliminated the immediate pressure created by the MCA collection efforts and believes it is positioned to continue operating and fund its obligations under a Chapter 11 plan through future operating profits. The Debtor has scheduled approximately $1,700.00 in general unsecured claims not subject to cure through assumption. In addition, the Debtor has scheduled claims held by the Small Business Administration ("SBA") and various merchant cash advance lenders (the "MCA Lenders"). The Debtor must also show that it will have enough cash over the life of the Plan to make the required Plan payments and operate the Debtor's business. Exhibit C also sets forth the Debtor's projected disposable income. The final Plan payment to unsecured creditors is expected to be paid on the date that is three years after the Effective Date of the Plan. Class 4 consists of all General Unsecured Claims. Provided that an Allowed Class 4 Claim has not been paid prior to the Effective Date, or pursuant to a cure payment to be paid to assume an executory contract, and except to the extent that a holder of a Class 4 Claim agrees to a different and lesser treatment, each holder of an Allowed Class 4 Claim shall receive from the Debtor, in full and complete settlement, satisfaction and discharge of its Allowed Class 4 Claim, a pro rata portion of the Quarterly Payments and Quarterly Avoidance Action Proceeds (each such pro rata share to be paid after payment of the commission incurred by the Trustee, if any). Class 4 is impaired under this Plan and, therefore, Holders of Class 4 Claims are entitled to vote to accept or reject this Plan. Each Allowed Class 4 Claim shall be discharged in accordance with Section 1191(a) or Section 1192 of the Bankruptcy Code, as applicable. Non dischargeable Claims, if any, shall be treated in accordance with applicable nonbankruptcy law and shall not be altered or modified by this Plan. Class 5 consists of the equity interests in the Debtor. The holders of the equity interest in the Debtor, Franklin Lim shall retain his 100% equity interest the Debtor. Holders of equity interests in the Debtor are unimpaired and not entitled to vote on the Plan. All property of the Estate shall revest in the Debtor on the Effective Date, free and clear of all other liens, claims, interests and encumbrances, except for the liens specifically preserved or created by this Plan. Beginning on the first business day that is in the first full quarter after the Effective Date, and continuing on the first business day of each quarter thereafter for a total of twelve quarters, the Debtor, or, if this Plan is confirmed pursuant to Section 1191(b) of the Bankruptcy Code, the Trustee (from payments made to the Trustee by the Debtor), shall pay Quarterly Payments of $8,175.00 for each quarter ending in calendar year 2026, $8,675.00 for each quarter ending in calendar year 2027, $9,175.00 for each quarter ending in calendar year 2028, and $9,675.00 for each quarter ending in calendar year 2029 (the "Quarterly Payments") plus the Quarterly Avoidance Action Proceeds pro rata to holders of General Unsecured Claims. A full-text copy of the Plan of Reorganization dated June 25, 2026 is available at https://urlcurt.com/u?l=2Tu7xb from PacerMonitor.com at no charge. Counsel to the Debtor: Justin P. Fasano, Esq. Craig M. Palik, Esq. Janet M. Nesse, Esq. McNamee Hosea, PA 6404 Ivy Lane, Suite 820 Greenbelt, MD 20770 Telephone: (301) 441-2420 E-mail: jfasano@mhlawyers.com About New York Tailors Inc. New York Tailors, Inc., has been in operation since December 2010 and provides tailoring, alterations, and dry-cleaning services primarily to Pentagon personnel. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Va. Case No. 26-10730) on March 27, 2026, with $0 to $50,000 in assets and $500,001 to $1 million in liabilities. Craig M. Palik, Esq. at Mcnamee Hosea represents the Debtor as legal counsel. NORTH ATLANTA HOME: Leon Jones Named Subchapter V Trustee --------------------------------------------------------- The Acting U.S. Trustee for Region 21 appointed Leon Jones, Esq., at Jones & Walden, LLC, as Subchapter V trustee for North Atlanta Home Services, Inc. Mr. Jones will be paid an hourly fee of $500 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Jones declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Leon S. Jones, Esq. Jones & Walden, LLC 699 Piedmont Ave. NE Atlanta, GA 30308 Phone: (404) 564-9300 ljones@joneswalden.com About North Atlanta Home Services Inc. North Atlanta Home Services, Inc. is a Winder, Georgia-based provider of outdoor lighting installation and maintenance services. North Atlanta Home Services sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ga. Case No. 26-21004) on June 25, 2026. In its petition, the Debtor reports estimated assets between $100,000 and $500,000 and estimated liabilities between $1 million and $10 million. The Debtor is represented by William A. Rountree, Esq., at Rountree Leitman Klein & Geer, LLC. ON POINT DIRECTIONAL: Unsecureds Will Get 15% over 60 Months ------------------------------------------------------------ On Point Directional Drilling and Trenching LLC filed with the U.S. Bankruptcy Court for the Eastern District of Arkansas a Disclosure Statement describing Second Amended Plan of Reorganization dated June 26, 2026. The Debtor operates a directional drilling and boring services company whose primary customers are utility companies and municipalities. Since the filing of the Petition, the Debtor has continued its operations in a downsized capacity. After giving effect to the transactions and agreements, the Debtor proposes to make distributions to Secured Creditors, Administrative Creditors, Priority Creditors, and General Unsecured Creditors from cash on hand and cash from operations to be obtained after Confirmation. Class T consists of the Allowed Unsecured Claims arising from all non-insider Creditors of the Debtor, including without limitation, any guaranty or comaker deficiency balances for any unpaid Allowed Secured Claims by Final Order of this Court against Debtor for which Debtor has contractual liability, Secured Claims that become Allowed Unsecured Claims, and any presently unliquidated Unsecured Claims which become liquidated as Allowed Unsecured Claims. The allowed unsecured claims total $133,113.90. Holders of Allowed Class T Unsecured Claims will receive periodic pro rata distributions based on Debtor's cash flow by deferred cash payments accruing interest at 0% per annum, until paid in full and payable in quarterly installments based on Debtor's cash flow of operations, beginning ninety days after the Effective Date, and continuing every 90 days thereafter until paid in full in accordance with this Plan. Reference is hereby made to the Debtor's operating reports on file with the Court as it pertains to Debtor's post-petition operations. Class T is Impaired and is entitled to vote on the Plan. The Debtor may prepay, in whole, or in part, this class of creditors. Based on Debtor's projections, the total distribution to Class T General Unsecured Creditors over the life of the Plan is estimated to be $277,179.40, which is substantially more than the estimated $0.00 available in a hypothetical Chapter 7 liquidation, but which represents an approximate 15% return to General Unsecured Creditors. The Debtor will commit his available disposable income for a period of more than sixty months after the Petition Date, as contemplated by Section 1129(15)(B) of the Bankruptcy Code. Debtor's Monthly Operating Reports detailing post-petition income and expenses are on file with the Bankruptcy Court for creditor review. After Confirmation, Debtor will continue to conduct business operations. After Confirmation, the Debtor will continue to maintain the corporate records, books, accounts, and computer programs of the entities in which he maintained pre-petition. A summary of the Debtor's post-petition activities and proposed post-confirmation activities and in the contemporaneously filed Disclosure Statement. All funding for the Plan will come from the Debtor's PostPetition and Post-Confirmation Activities. A full-text copy of the Disclosure Statement dated June 26, 2026 is available at https://urlcurt.com/u?l=RJfajC from PacerMonitor.com at no charge. Counsel for the Debtor: Kevin P. Keech, Esq. Keech Law Firm, PA 2011 S. Broadway St. Little Rock, AR 72206 Tel: (501) 221-3200 Fax: (501) 221-3201 E-mail: kkeech@keechlawfirm.com About On Point Directional Drilling On Point Directional Drilling and Trenching LLC specializes in providing drilling and trenching services. On Point Directional Drilling and Trenching sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Ark. Case No. 24-12506) on July 31, 2024. In the petition filed by Matthew Mommsen, managing member, the Debtor reports estimated assets and liabilities between $1 million and $10 million. Judge Phyllis M. Jones oversees the case. The Debtor tapped Kevin P. Keech, at Keech Law Firm, PA as counsel and Matt Knight, CPA, at Osborn & Osborn, CPA's, PLLC as accountant. OPTIMAL BEGINNINGS: Seeks Chapter 11 Bankruptcy in Maryland ----------------------------------------------------------- On June 18, 2026, Optimal Beginnings, LLC filed for Chapter 11 protection in the U.S. Bankruptcy Court for the District of Maryland. According to court filings, the Debtor reports between $1 million and $10 million in liabilities, estimated assets of $0 to $50,000, and 1–49 creditors. About Optimal Beginnings, LLC Optimal Beginnings, LLC is a Rockville, Maryland-based provider of applied behavior analysis (ABA) therapy services. The company operates clinical offices in Rockville, Maryland, and Vienna, Virginia, offering ABA therapy, speech-language pathology, and social skills training through a multidisciplinary team led by Chief Executive Officer Dana Visalli-Gold. Optimal Beginnings, LLC sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Md., Greenbelt Division Case No. 26-16529) on June 28, 2026. The Debtor reported estimated assets of between $0 and $50,000 and liabilities of between $1,000,001 and $10,000,000. The Debtor is represented by Daniel Alan Staeven, Esq., of Frost & Associates, LLC. P R C TRANSPORT: Brian Hofmeister Named Subchapter V Trustee ------------------------------------------------------------ The U.S. Trustee for Regions 3 and 9 appointed Brian Hofmeister, Esq., as Subchapter V trustee for P R C Transport, LLC. Mr. Hofmeister will be paid an hourly fee of $450 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Hofmeister declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Brian W. Hofmeister, Esq. 3131 Princeton Pike Building 5, Suite 110 Lawrenceville, NJ 08648 Phone: (609) 890-1500 Email: bwh@hofmeisterfirm.com About P R C Transport LLC P R C Transport, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.N.J. Case No. 26-17386) on June 26, 2026, with $100,001 to $500,000 in assets and $500,001 to $1 million in liabilities. Anthony Sodono, III, Esq., at Mcmanimon, Scotland & Baumann, LLC represents the Debtor as legal counsel. PACIFICA OF THE VALLEY: Seeks Ch.11 Bankruptcy w/ Over $100MM Debt ------------------------------------------------------------------ Rick Archer of Law360 Bankruptcy Authority reports that Pacifica Hospital of the Valley, a 231-bed healthcare facility serving the Los Angeles area, has entered Chapter 11 bankruptcy in Delaware with liabilities exceeding $100 million. The filing is aimed at restructuring the hospital's debt while ensuring that patient care continues during the court-supervised reorganization. According to the bankruptcy petition, the hospital expects to remain open and continue normal operations as a debtor-in-possession. The Chapter 11 process is intended to provide breathing room to reorganize its balance sheet, address creditor claims, and pursue a sustainable financial path. Like many healthcare providers, Pacifica Hospital has faced mounting financial pressures driven by higher labor costs, inflation, and reimbursement constraints. Through Chapter 11, the hospital hopes to preserve its operations while working toward a consensual restructuring with stakeholders, the report relays. About Pacifica Hospital of the Valley Pacifica Hospital of the Valley is a Sun Valley, California-based 231-bed community hospital offering comprehensive medical services, including emergency care, surgical services, intensive care, diagnostic imaging, behavioral health, rehabilitation, and outpatient treatment. Pacifica Hospital of the Valley sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 26-11060) on July 4, 2026. In its petition, the Debtor reports over $100 million liabilities. Honorable Bankruptcy Judge Thomas M. Horan handles the case. The Debtor is represented by Laura Davis Jones, Esq. of Pachulski, Stang, Ziehl & Jones LLP. PARAMOUNT ROOFING: Gets Final OK to Use Cash Collateral ------------------------------------------------------- Paramount Roofing, LLC received final approval from the U.S. Bankruptcy Court for the District of New Mexico to use the cash collateral of JPMorgan Chase Bank, N.A. for the period from July 1 through September 30. Under the final order, the Debtor is authorized to use cash collateral to pay ordinary-course operating expenses in accordance with the approved budge. Actual expenditures must not exceed the budgeted amount for any line item by more than 15% without JPMorgan's written consent or further court approval, and if an actual expense is lower than budgeted, the Debtor may pay only the amount actually owed. The Debtor projects total operational expenses of $192,930 for the period from July to September. As adequate protection, the court granted JPMorgan a replacement lien on all post-petition collateral of the same type, validity, and priority as its prepetition security interests, including proceeds, without the need for additional filings. The Debtor must also make monthly adequate protection payments of $800 to JPMorgan throughout the authorized cash collateral period and continue filing timely monthly operating reports with supporting financial records. The Debtor's authority to use cash collateral is conditioned on full compliance with the order. If a default occurs, JPMorgan may provide written notice, after which the Debtor will have five days to cure before the lender may seek additional relief from the court. The order preserves all parties' rights to challenge the validity, extent, or priority of JPMorgan's liens, takes immediate effect upon entry, and waives the automatic stay otherwise imposed under Bankruptcy Rule 6004(h). About Paramount Roofing Paramount Roofing, LLC operates a roofing company providing new roof construction, roof repairs and storm damage restoration services for residential and commercial properties. Paramount Roofing filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. D. N.M. Case No. 26-10274) on March 2, 2026, listing assets of between $100,001 and $500,000 and liabilities of between $500,001 and $1 million. Daniel Behles, Esq., at 709 Consulting, LLC serves as Subchapter V trustee. Judge Robert H. Jacobvitz oversees the case. The Debtor tapped Gerald R. Velarde, Esq., at Velarde & Yar as legal counsel and Burgmaier & Associates, Inc. as accountant. PERFORMERS EDGE: KC Cohen Named Subchapter V Trustee ---------------------------------------------------- The Acting U.S. Trustee for Region 10 appointed KC Cohen as Subchapter V trustee for Performers Edge, LLC. Mr. Cohen will be paid an hourly fee of $375 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Cohen declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: KC Cohen 1915 Broad Ripple Ave. Indianapolis, IN 46220 (317) 715-1845 Email: kc@esoft-legal.com About Performers Edge LLC Performers Edge, LLC provides dance education, group dance classes, and private lessons in Carmel, Indiana. Performers Edge filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. S.D. Ind. Case No. 26-04157) on June 29, 2026, with $100,001 to $500,000 in assets and $1 million to $10 million in liabilities. Judge James M. Carr presides over the case. Harley K. Means, Esq., at Kroger Gardis & Regas, LLP represents the Debtor as legal counsel. PETER F. DIPAOLO: Unsecureds to Split $250K via Quarterly Payments ------------------------------------------------------------------ Peter F. DiPaolo, MD, PA and Peter F. DiPaolo filed with the U.S. Bankruptcy Court for the District of New Jersey a Disclosure Statement describing Chapter 11 Plan dated June 26, 2026. DiPaolo was born on December 11, 1960, in Newark, New Jersey. He completed his high school education in 1979 at Verona High School. He completed his college education in 1983 at Villanova University. DiPaolo MD, PA is private practice led by Peter F. DiPaolo as a board-certified orthopedic surgeon. DiPaolo MD, PA operates from its headquarters at 1225 McBride Avenue, Woodland Park, New Jersey ("MD Office"). The MD Office consists of 3,427 square feet, which is the subject of a seven-year lease at $8,390.22 per month (a triple net lease), which terminates on June 30, 2032. On June 12, 2026, DiPaolo filed a motion to approve the sale of the Residence to Brian Singh (the "Buyer") in exchange for $1.65 million. The Residence is subject to two mortgages: (1) Planet Home Lending in the approximate amount of $1,052,252.435; and (2) Falow LLC in the approximate amount of $230,000. Thus, the sale will yield approximately $367,747.57 to the Estate. As part of the sale agreement, Buyer and DiPaolo will enter into a five-year lease at no monthly rent. DiPaolo will be responsible for paying the taxes, insurance, and maintaining the Residence during the lease. At the expiration of the lease, DiPaolo has the option to repurchase the Residence. Prior to the Petition Date, on February 27, 2026, DiPaolo sold certain real property located at 231 Bay Stream Drive, Toms River, New Jersey (the "Beach House"). Certain entities such as LAF and Balboa had unperfected security interests on the Beach House. Carnegie Title LLC, as escrow agent for the sale of the Beach House, held $190,000 in escrow related to the LAF and Balboa judgments. On June 4, 2026, DiPaolo filed an application for entry of a consent order for the release of the monies held in escrow on behalf of LAF. On June 8, 2026, DiPaolo filed an application for entry of a consent order for the release of monies held in escrow on behalf of Balboa. The Court entered Orders granting both applications on June 22, 2026. Class 4A/6B consists of General Unsecured Claims. Allowed Class 4A and 6B Claims shall share on a pro rata basis $12,500 quarterly for twenty consecutive quarters for a total distribution of $250,000. Based upon Debtors’ preliminary review of the unsecured claims, our estimated value of the allowed Unsecured Claims are estimated at approximately $3,273,110.36. This Class is impaired. Upon the Effective Date, any Equity Interests in DiPaolo MD, PA will vest in DiPaolo. DiPaolo is an individual, and, therefore, there are no equity interests. DiPaolo's distributions will be funded from the liquidation of his only assets: (i) the sale of the Residence; and (ii) the closing proceeds from the Beach House. DiPaolo MD, PA's obligations under this Plan shall be funded by DiPaolo MD, PA's continuing operating receipts, as set forth in the projections. A full-text copy of the Disclosure Statement dated June 26, 2026 is available at https://urlcurt.com/u?l=aqbVew from PacerMonitor.com at no charge. Counsel to the Debtors: TRENK ISABEL SIDDIQI & SHAHD Richard D. Trenk, Esq. Robert S. Roglieri, Esq. Stephen M. Gengaro, Esq. 290 W. Mt. Pleasant Ave., Suite 2370 Livingston, New Jersey 07039 Telephone: (973) 533-1000 E-mail: rtrenk@trenkisabel.law E-mail: rroglieri@trenkisabel.law E-mail: sgengaro@trenkisabel.law About Peter F. DiPaolo Peter F. DiPaolo, MD, PA is a private orthopedic practice located in Woodland Park, New Jersey. Led by board-certified orthopedic surgeon Peter F. DiPaolo, M.D., the practice provides orthopedic services including minimally invasive surgery, traumatic injury treatment, pain management solutions, joint replacement, spine surgery, arthroscopic knee and shoulder surgery, and fracture treatment. The practice serves patients with accident-related injuries and orthopedic conditions such as arthritis, hip pain, neck pain, knee pain, sciatica, shoulder pain, and lower back pain. Peter F. DiPaolo, MD, PA sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. N.J. Lead Case No. 26-14807) on Aug. 11, 2025. In its petition, the Debtor reported estimated total assets of $10,034 and estimated liabilities of $4,547,728. The petition was signed by Peter F. DiPaolo as sole shareholder. The Debtor is represented by Trenk Isabel Siddiqi & Shahdanian P.C. PICARD MEDICAL: Names Joe Xiao to Board, Committees --------------------------------------------------- Picard Medical, Inc. appointed Dr. Joe Xiao to its board of directors and three board committees, according to a Form 8-K filing with the Securities and Exchange Commission. Xiao was appointed June 23, 2026, with a term set to expire at the company's 2026 annual meeting of stockholders. He was also appointed to the audit, compensation, and nominating and corporate governance committees. Picard said Xiao entered into the company's standard indemnification agreement for directors and will receive compensation under the company's existing compensation policy for non-employee directors. The company said there were no arrangements or understandings between Xiao and any other person connected to his selection for the board. It also said there were no transactions or relationships between Xiao and the company that would require disclosure under Item 404(a) of Regulation S-K. About Picard Medical, Inc. Picard Medical, Inc. is a Tucson, Arizona-based holding company that owns SynCardia Systems, LLC, a medical technology company. SynCardia manufactures and sells the SynCardia Total Artificial Heart, which is approved by the U.S. Food and Drug Administration and Health Canada and fully replaces the function of a failing human heart. More than 2,100 SynCardia total artificial hearts have been implanted in patients across 27 countries. The device is used as a bridge to heart transplantation for patients with biventricular, or end-stage, heart failure, and SynCardia is also pursuing the next-generation Emperor TAH. In an audit report dated March 27, 2026, MaloneBailey, LLP included a going-concern matter, citing Picard Medical's recurring losses from operations. The condition raised substantial doubt about the company's ability to continue as a going concern. As of March 31, 2026, Picard Medical reported total assets of $11.22 million, total liabilities of $12.67 million and a stockholders' deficit of $1.45 million. PICHOI CORPORATION: Case Summary & 19 Unsecured Creditors --------------------------------------------------------- Debtor: Pichoi Corporation d/b/a Subway 6541 Ocaso Drive Castle Pines, CO 80108 Business Description: Pichoi Corporation operates Subway franchised restaurants in Colorado, with disclosed leasehold interests in locations in Arvada, Westminster, Wheat Ridge, Littleton, Broomfield, Golden and Idaho Springs. Chapter 11 Petition Date: July 6, 2026 Court: United States Bankruptcy Court District of Colorado Case No.: 26-14866 Judge: Hon. Kimberley H Tyson Debtor's Counsel: Keri L. Riley, Esq. 1660 Lincoln St. Denver, CO 80264 Tel: (303) 832-2400 E-mail: klr@kutnerlaw.com Total Assets: $437,217 Total Liabilities: $1,438,113 The petition was signed by Amish Shah as president. A copy of the Debtor's list of its 19 unsecured creditors is available for free on PacerMonitor at: https://www.pacermonitor.com/view/NKG6R7A/Pichoi_Corporation__cobke-26-14866__0003.0.pdf?mcid=tGE4TAMA PLURI INC: Chutzpah Holdings, 3 Others Report Equity Stake ---------------------------------------------------------- Chutzpah Holdings Ltd, Chutzpah Holdings LP, Plantae Bioscience Ltd., and Alexandre Weinstein disclosed in a Schedule 13D (Amendment No. 5) filed with the U.S. Securities and Exchange Commission that as of June 30, 2026, the Reporting Persons beneficially own an aggregate of 4,352,641 shares of Common Stock of Pluri Inc.'s Common Stock, par value $0.00001 per share, based on 10,824,311 shares of Common Stock outstanding as of June 30, 2026, as confirmed by the Issuer. * Chutzpah Holdings Ltd beneficially owns 2,018,014 shares (consisting of 1,933,415 common shares directly held and warrants to purchase 84,599 common shares), representing 18.5%; * Chutzpah Holdings LP beneficially owns 1,875,000 shares (consisting of 1,250,000 common shares directly held and warrants to purchase 625,000 common shares, subject to a 35% Beneficial Ownership Limitation), representing 16.37%; * Plantae Bioscience Ltd. beneficially owns 452,702 shares directly held, representing 4.18%; and * Alexandre Weinstein beneficially owns 4,352,641 shares in the aggregate (consisting of 6,925 shares held directly, including 641 RSUs vesting within 60 days, plus all shares held through Chutzpah Holdings Ltd, Chutzpah Holdings LP, and Plantae Bioscience Ltd.), representing 35.00% (limited from 38.01% due to the 35% beneficial ownership blocker). Chutzpah Holdings Ltd may be reached through: Ana Ventura Chutzpah Holdings Limited 4th Floor, Liberation House, Castle Street St. Helier, Jersey JE1 4HH Tel: (212) 613-2091 A full-text copy of Chutzpah Holdings Ltd's SEC report is available at https://tinyurl.com/49e58stv About Pluri Inc. Haifa, Israel-based Pluri Inc. is a biotechnology company, leveraging proprietary cell expansion platform to develop scalable, cell-based solutions across the healthcare, food, and agriculture sectors. Kesselman & Kesselman, the Company's auditor since 2021, issued a "going concern" qualification in its report dated September 17, 2025, attached to the Company's Annual Report on Form 10-K for the year ended June 30, 2025, citing that the Company has incurred recurring losses and negative cash flows from operating activities and has an accumulated deficit as of June 30, 2025 and the loan received from European Investment Bank is due on June 1, 2026. These circumstances raise substantial doubt about its ability to continue as a going concern. As of March 31, 2026, the Company had $26.06 million in total assets, $32.01 million in total current liabilities, $7.05 million in total noncurrent liabilities, and $12.10 million in total deficit. READY ROOFING: Gets Interim OK to Use Cash Collateral ----------------------------------------------------- Ready Roofing, LLC received interim approval from the U.S. Bankruptcy Court for the Middle District of Florida, Jacksonville Division, to use cash collateral through July 16. Under the interim order, the Debtor may use cash collateral to pay court-approved expenses, including quarterly fees owed to the United States Trustee, and to fund ordinary and necessary business operations in accordance with the budget. The Debtor is permitted a variance of up to 10% for each budget line item and may make additional expenditures if approved in writing by the U.S. Small Business Administration, the secured creditor. Any use of cash collateral outside these authorized purposes is prohibited. As part of the adequate protection package, secured creditors holding interests in cash collateral received replacement liens on post-petition cash collateral with the same validity, priority, and extent as their prepetition liens. The Debtor must also maintain required insurance coverage, comply with all debtor-in-possession obligations under the Bankruptcy Code, and provide the secured creditor reasonable access to business records and premises for inspection. The order preserves the rights of parties in interest to seek modifications to adequate protection or restrictions on cash collateral use, and it does not affect the ability of a creditors’ committee, if appointed, to challenge the validity, priority, or extent of asserted liens. In addition, the court approved a non-standard adequate protection payment requiring Ready Roofing, LLC to pay the secured lender $1,500 per month beginning this month, without prejudice to a later determination of the lender's secured status. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/sFhro from PacerMonitor.com. About Ready Roofing LLC Ready Roofing, LLC filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. M.D. Fla. Case No. 26-02480) on June 1, 2026. In the petition signed by Jim Jessup, authorized representative, the Debtor disclosed up to $500,000 in assets and up to $10 million in liabilities. Bryan K. Mickler, Esq., at the Law Offices of Mickler & Mickler, LLP, represents the Debtor as bankruptcy counsel. Aaron Cohen, Esq., a practicing attorney in Jacksonville, Fla., serves as Subchapter V trustee for the Debtor. REUP GALAXY: Updates Liquidating Plan Disclosures ------------------------------------------------- ReUp Galaxy Holdings LLC and its affiliates submitted a Disclosure Statement describing First Amended Plan of Liquidation dated June 26, 2026. During these cases, the Debtors have focused their efforts on analyzing and supporting their option rights and potential claims against third parties, making demands on certain litigation targets, and commencing efforts to obtain consensual resolution of related disputes. The primary remaining assets of the Debtors are certain intellectual property of unknown value identified in the bankruptcy schedules of ReUp Technologies as Patent 20240169406, as U.S.P.T.O. Registration No. 7142832 re ReUp mark, and ReUp Platform. On June 17, 2026, ReUp filed a response to the United States Patent and Trademark Office in support of its patent application. Related costs and legal fees were $4,736. The Debtors propose through their plan to task their CRO with liquidating their remaining assets for the benefit of creditors. Current and former insiders and employees of the Debtors have expressed a willingness to support the CRO's efforts to investigate the Debtors' contract rights and claims, to commence litigation reasonably determined by the CRO as likely to be costeffective, to explore options for selling assets, to otherwise liquidate assets, to pursue potential challenges to the bases, amounts, and/or classifications of questionable creditor claims, and to distribute asset proceeds to holders of valid claims. ReUp Class 2 consists of any Allowed Secured Claims against the consolidated Estate of the Debtors. Such creditors shall retain any liens. Such claims shall receive payment from the sale of assets of the Debtors as to which such creditor possesses a valid lien. The Debtors reserve the right to challenge any and all liens on any ground available at law or in equity. ReUp Class 3 consists of any Allowed Priority Tax Claim against the consolidated Estate of the Debtors. Such claims shall bear interest at the statutory rate under applicable nonbankruptcy law. This shall be a fixed rate of interest as determined on the Confirmation Date. Unless otherwise agreed or as set forth herein as a result of a prior agreement, each holder of any such claim shall be paid the amount of its Allowed Priority Tax Claim on the later of the Effective Date or within seven days after the date that a Final Order is entered approving the Priority Tax Claim. ReUp Class 4 shall consist of Allowed General Unsecured Claims against the consolidated Estate of the Debtors. Each holder of such a claim shall receive, on the applicable Distribution Date, pro rata share with other claims in this class, of the Distributable Cash remaining after ReUp Classes 1, 2, and 3 have been paid in full in accordance with the treatment provided in the Plan to such Classes. Such class is impaired. As part of the proposed plan of liquidation, the CRO will manage the process of reviewing proofs of claim for potential objection. The Debtors believe that cause might exist to object to several filed claims, including for example, the single filed secured claim as to which the Debtors dispute its secured status, and certain claims based upon investment contracts titled Simple Agreement for Future Equity (SAFE) that might be subject to contractual or equitable subordination. The feasibility of the Plan depends on the Debtors' ability to execute their plan to liquidate their assets and distribute proceeds to the holders of allowed claims. The Debtors believe that the proposed Chapter 11 liquidation of their assets will yield sufficient resources from which the Debtors can fund an orderly liquidation of assets that maximizes potential distributions to creditors. If the Debtors are not successful, they might seek to convert their consolidated case to a Chapter 7 liquidation. A full-text copy of the Disclosure Statement dated June 26, 2026 is available at https://urlcurt.com/u?l=KclShf from PacerMonitor.com at no charge. Bankruptcy Counsel for the Debtors: David N. Stern, Esq. Barron & Newburger, P.C. 7320 N. MoPac Expwy., Suite 400 Tel: (512) 476-9103 Fax: (512) 476-9253 Email: dstern@bn-lawyers.com About ReUp Galaxy Holdings LLC ReUp Galaxy Holdings LLC, ReUp Technologies Inc., and ReUp Ops LLC are U.S.-based companies headquartered in Austin, Texas, operating under the ReUp Living brand in the home renovation and property enhancement sector, providing pre-listing residential renovation services designed to increase home sale value. The entities collectively manage, develop, and deliver ReUp Living services, including technology solutions, operational support, and franchise management across the U.S. market. ReUp Galaxy Holdings LLC, ReUp Technologies Inc., and ReUp Ops LLC filed their voluntary petitions for relief under Chapter 11 of the Bankruptcy Code (Bankr. W.D. Tex. Case Nos. 26-10037, 26-10038 and 26-10039, respectively.) At the time of filing, ReUp Galaxy Holdings LLC estimates $6,411,991 in liabilities. The petitions were signed by Ryan Sawchuk as president. David N Stern, Esq. at BARRON & NEWBURGER, P.C. represents the Debtors as counsel. RK PARISI: Case Summary & 20 Largest Unsecured Creditors -------------------------------------------------------- Debtor: RK Parisi Enterprises, Inc. d/b/a PoshHaus, Shop Design Build, New England Home Goods 104 Emerald Street Keene, NH 03431 Business Description: RK Parisi Enterprises, Inc., doing business as PoshHaus, operates a Keene, NH-based online and showroom/outlet retailer of home products. Founded in 2012 by Robert Parisi, the company offers kitchen and bathroom fixtures, appliances, housewares, furniture, vanities, faucets, lighting fixtures, and accessories. PoshHaus opened its first showroom in Keene, NH, in 2014 and serves home design and furnishing needs for homeowners and professionals. Chapter 11 Petition Date: June 30, 2026 Court: United States Bankruptcy Court District of New Hampshire Case No.: 26-10581 Debtor's Counsel: William J. Amann, Esq. AMANN BURNETT PLLC 757 Chestnut Street Manchester, NH 03104 Tel: 603-696-5401 Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Robert M. Parisi, Jr. as president and owner. A full-text copy of the petition, which includes a list of the Debtor's 20 largest unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/777LDUQ/RK_Parisi_Enterprises_Inc__nhbke-26-10581__0001.0.pdf?mcid=tGE4TAMA RM FERRANTE: Gets Interim OK to Use Cash Collateral --------------------------------------------------- The U.S. Bankruptcy Court for the District of Maine entered an interim order authorizing RM Ferrante LLC and its affiliated debtors to use cash collaterals. Under the interim order, the Debtors are authorized to use cash collateral in accordance with the court-approved operating budget, with total expenditures capped at 110% of the aggregate budgeted amount to allow for timing differences in revenues and expenses. The Debtors, however, are prohibited from making payments for management fees, vehicle expenses, or intercompany transfers. As adequate protection, pre-petition lienholder Five County Credit Union will be granted replacement liens on substantially all post-petition assets of the Debtors, excluding proceeds of Chapter 5 avoidance actions, to the extent the lienholder's collateral declines in value. The lienholder also retains its continuing liens and security interests under Section 552 of the Bankruptcy Code, with all replacement and continuing liens deemed automatically perfected. If those liens prove insufficient to compensate for any diminution in value, the remaining adequate protection obligations will be treated as allowed administrative expense claims under Section 507(b). Events of default include unauthorized use of cash collateral, material breaches of the order, intentional misrepresentations in financial reporting, or dismissal or conversion of the Chapter 11 cases. If a default is not cured within two business days after the prepetition lienholder files a notice of default, the Debtors' authority to use cash collateral will immediately terminate, although the Debtors may seek renewed authority from the court on an emergency basis. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/8u3PD from PacerMonitor.com. A final hearing is scheduled for July 16, with objections due by July 14. In 2024 and 2025, certain Debtors entered into secured loan transactions with Five County Credit Union that may be cross-collateralized and cross-defaulted. The lienholder is expected to assert an interest in cash collateral, consisting primarily of rental income from the Debtors' real properties. About RM Ferrante LLC RM Ferrante LLC is a holding and investment company engaged in the ownership, management, and operation of business and real estate assets. RM Ferrante LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-20170) on June 17, 2026. In its petition, the Debtor reported estimated assets of $1 million to $10 million and estimated liabilities of $10 million to 50 million. Honorable Bankruptcy Judge Peter G. Cary handles the case. The Debtor is represented by D. Sam Anderson, Esq. of Bernstein Shur Sawyer & Nelson. ROBERT L. NORVELL: 11th Cir. Tosses Automatic Stay Appeal --------------------------------------------------------- The Hon. Kevin Newsom, Andrew L. Brasher and R. Lanier Anderson III of the U.S. Court of Appeals for the Eleventh Circuit affirmed the order of the U.S. Bankruptcy Court for the Middle District of Florida that lifted the automatic stay with respect to a certain property at issue in Robert Norvell's bankruptcy case. The panel held that Norvell failed in his brief on appeal to make any argument in support of his position. Robert Norvell, proceeding pro se, appeals the bankruptcy court's order finding that the automatic stay provided for in 11 U.S.C. Sec. 362(a) no longer applied to the property at issue because the property had revested in him under the terms of the confirmed reorganization plan, which removed the property from the bankruptcy estate. Norvell argues that the district court erred by lifting the automatic stay because: -- he did not default on his payments under the applicable reorganization plan, -- U.S. Bank Trust Company's motion to remove the stay was procedurally deficient, and -- removing the stay violated his due process rights. Norvell also argues that the bankruptcy court should have held a hearing to determine whether he defaulted. Finally, he contends that the bankruptcy court erred by finding that U.S. Bank's motion for relief from the automatic stay was moot. According to the panel, "by failing in his brief on appeal to make any argument with respect thereto, Norvell has abandoned any challenge to the bankruptcy court's finding that the property at issue was not part of the bankruptcy estate once it revested in him in 2017, such that the automatic stay was no longer applicable. In any event, pursuant to the terms of the confirmed plan, the property revested in Norvell and the automatic stay ended as of the plan's effective date, which was in 2017." The appeal is styled ROBERT L. NORVELL, Plaintiff-Appellant, versus U.S. BANK TRUST COMPANY, N.A., Defendant-Appellee, No. 25-14226 (11th Cir.). A copy of the Court's Opinion dated July 7, 2026, is available at http://urlcurt.com/u?l=rVu1xn Robert L. Norvell filed for Chapter 11 bankruptcy protection (Bankr. M.D. Fla. Case No. 14-05180). ROBERTSHAW US: District Court Dismisses Invesco's Debt Deal Appeal ------------------------------------------------------------------ Alex Wittenberg of Law360 Bankruptcy Authority reports that a Texas district judge has sided with the bankruptcy court in a dispute over Robertshaw's liability management transaction, rejecting Invesco's appeal and affirming a 2024 ruling involving competing lender groups. The case focused on whether the challenged debt restructuring complied with the company's financing agreements. According to the court, the bankruptcy judge properly evaluated the contractual provisions governing the transaction and correctly dismissed Invesco's objections. The appeal argued that a separate lender group lacked authority to complete the restructuring, but the district court determined those claims did not justify overturning the earlier decision. The ruling preserves the validity of the liability management deal and represents a significant win for the lenders that backed the restructuring. It also leaves intact the bankruptcy court's interpretation of the loan agreements governing the transaction, the report states. About Robertshaw US Holdings Corp. Robertshaw US Holding Corp., along with its affiliates, is a global leader in designing and manufacturing innovative control systems and components for the appliance and HVAC industries. Robertshaw makes components, such as thermostats, valves, switches, and timers that are used in household and commercial refrigerators, dishwashers, laundry machines, and other appliances. Robertshaw US Holdings and its affiliates filed Chapter 11 petitions (Bankr. S.D. Texas Lead Case No. 24-90052) on February 15, 2024, with $500 million to $1 billion in assets and liabilities. John Hewitt, chief executive officer, signed the petitions. The Debtors tapped Hunton Andrews Kurth LLP & Latham & Watkins, LLP as bankruptcy counsel; Guggenheim Securities, LLC as investment banker and financial advisor; and KPMG, LLP as accountant, tax advisor and auditor. Kroll Restructuring Administration, LLC is the claims, noticing, solicitation and balloting agent. RYAN LLC: S&P Rates Proposed EUR400MM First-Lien Term Loan B ------------------------------------------------------------ S&P Global Ratings assigned its 'B' issue-level rating to Ryan LLC's (B/Stable/--) proposed issuance of a EUR400 million first-lien term loan due 2032. The recovery rating is '3', indicating its expectations for meaningful (50%-70%; rounded estimate: 50%) recovery in the event of default. Ryan LLC intends to use the proceeds, along with rollover equity and cash from balance sheet to funds its acquisition of Stockholm-based tax and transaction advisory firm Svalner and partially repay its USD term loan B. S&P said, "All of our other ratings on Ryan LLC, including our 'B' issuer credit rating and stable outlook, are unchanged. While incremental debt will modestly increase leverage to the low- to mid-6x range—exceeding our 2026 projection of the mid- to high-5x range—we expect credit metrics to remain consistent with our rating expectations and well below our 7x leverage threshold." Issue Ratings--Recovery Analysis Key analytical factors -- The debt is guaranteed by each existing and acquired or organized direct or indirect wholly owned U.S. restricted subsidiary of Ryan LLC, subject to certain exceptions, and benefits from a first-lien security interest in substantially all assets of the borrower and guarantors. -- S&P's simulated default scenario considers a default stemming from a confluence of factors, including intense competition and execution missteps that sharply reduce volumes and profitability, leading to a prolonged period of cash flow deficits. -- S&P believes Ryan would reorganize rather than liquidate under a default scenario, given its long-term client relationships, extensive tax expertise among its employee and principal base, and integrated software platform. -- S&P said, "When evaluating recovery prospects for debtholders, we value the company on a going concern basis using a 6.5x multiple of our projected emergence EBITDA value. The multiple is higher than we typically use for business services issuers, reflecting our expectation of higher multiples for the professional tax services subsector." -- S&P's analysis assumes about 85% revolver utilization at the time of default. Simulated default assumptions -- Simulated year of default: 2029 -- EBITDA at emergence: about $228.7 million -- EBITDA multiple: 6.5x -- Gross enterprise valuation (EV): about $1.49 billion Simplified waterfall -- Net EV (after administrative costs): $1.41 billion -- Valuation spit (obligors/nonobligors): 80%/20% -- Total first-lien debt claims: About $2.63 billion --Recovery range: 50%-70% (rounded estimate: 50%) Note: All outstanding debt amounts include six months of prepetition interest. SB CONTRACTORS: Unsecured Creditors to Split $110K in Plan ---------------------------------------------------------- SB Contractors, LLC filed with the U.S. Bankruptcy Court for the Western District of Texas a Disclosure Statement describing Chapter 11 Plan dated June 26, 2026. The Debtor is a Texas Limited Liability Company which operates as a construction company in central Texas. Specifically, SB is a general contractor with a focus on heavy duty highway and construction projects in the realm of civil and structural work. The managing member for SB Contractors is W. Steven Simpson. Under the terms of the Plan, Simpson will remain in his management role. The Debtor has continued operations since seeking bankruptcy protection. Accordingly, Debtor has taken steps to comply with the applicable provisions of the Bankruptcy Code to maintain its business while restructuring its pre-petition debts. Though the case was initially filed under Subchapter V of chapter 11, it was converted to a regular chapter 11 case because it exceeded the applicable debt limits. Class 2 consists of Allowed General Unsecured Claims. The Plan proposes to pay the unsecured claimholders via quarterly payments starting in the third quarter of 2030. The allowed unsecured claims total $3,082,496.69. This Class will receive a distribution of $110,000. Class 2 is Impaired under the Plan. Holders of Allowed Unsecured Claims are entitled to vote to accept or reject the Plan. Class 4 consists of Allowed Equity Interests in the Debtor. Due to the new value provided by the Equity Interest Holder in the form of the post-petition financing and pledge of his status as preferred contractor for BAMCO US, the Equity Interests of Simpson will not be terminated. Class 4 is Unimpaired under the Plan and, accordingly, the Holders of Equity Interest are deemed to accept the Plan. In this instance, SB Contractors proposes to pay what it can to its creditors primarily from its ongoing operations. Additionally, specific assets were pledged as collateral to certain creditors. The sale of those assets or the settlement of a lawsuit will generate revenue to pay those specific secured creditors. A full-text copy of the Disclosure Statement dated June 26, 2026 is available at https://urlcurt.com/u?l=fJsmWs from PacerMonitor.com at no charge. SB Contractors LLC is represented by: Todd Headden, Esq. Bach W. Norwood, Esq. Hayward PLLC 7600 Burnet Road, Suite 530 Austin, TX 78757 Tel:(737) 881-7100 Email: theadden@haywardfirm.com bnorwood@haywardfirm.com About SB Contractors LLC SB Contractors, LLC, is a Texas-based general contractor specializing in heavy highway and commercial services. SB Contractors sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Texas Case No. 24-52121) on Oct. 25, 2024, with $1 million to $10 million in both assets and liabilities. William S. Simpson, authorized signatory, signed the petition. Judge Michael M. Parker oversees the case. Todd Headden, at Hayward PLLC, is the Debtor's legal counsel. SIMAD HOLDINGS: Gets Interim OK for DIP Loan From Mishmeret Trust ----------------------------------------------------------------- SIMAD Holdings Ltd. and affiliated debtors received interim approval from the U.S. Bankruptcy Court for the District of New Jersey to obtain debtor-in-possession financing to get through bankruptcy. The DIP facility consists of a multiple-draw term loan facility providing an aggregate principal amount of up to $180 million. This facility is structured into two parts: a "First-Out Tranche" of up to $60 million in new money commitments, and a "Second-Out Tranche" consisting of a pro rata "roll-up" of up to $120 million of existing pre-petition Series A bonds issued by SIMAD Holdings into superpriority DIP obligations. Under the interim order, the SIMAD Debtors will receive an initial funding of $20 million from the new money tranche to stabilize immediate operations while the remaining funds and the bond roll-up are subject to final court approval. Mishmeret Trust Company Ltd. is the DIP agent and trustee, and the primary DIP lender is Klirmark Opportunity Fund IV LP, which has committed between $40 million and $42 million toward the new money tranche. The DIP facility bears interest at one-month SOFR, plus 7.00% per annum, subject to a 3.50% SOFR floor. Interest on the first-out new money tranche is payable monthly in cash while interest on the second-out roll-up tranche is payable in kind (PIK). Upon default, the interest rate increases by an additional 3.0% per annum. The loan is scheduled to mature seven months following its closing date (extending into June 2027), though the borrowers hold an option to extend the timeline by two months upon paying an extension fee. Maturity can also be triggered earlier by the effective date of a confirmed Chapter 11 plan, an unapproved material asset sale, or an event of default. To secure the financing, Mishmeret was granted replacement liens on and security interests in the DIP collateral, which are subordinate to the fee carveout but senior to all other liens on or claims against the collateral. In addition, Mishmeret will be granted superpriority administrative expense claims. As a condition of the facility, the borrowers must operate under a strict, camp-by-camp approved budget. They are subject to financial covenants requiring that actual cash disbursements do not experience a negative variance greater than 15% when tested on a rolling weekly basis, alongside mandatory bi-weekly reporting comparing actual expenditures to the budget. Use of Cash Collateral Under the interim order, the SIMAD Debtors are also authorized to use the cash collateral of their pre-petition secured creditors -- Mishmeret and certain bondholders. Pre-petition secured creditors will be granted adequate protection through valid, binding, enforceable and automatically perfected replacement liens on and security interests in the DIP collateral, senior to all other liens on or claims against the DIP collateral but subordinate to the fee carveout and the DIP liens. Pre-petition secured creditors are also entitled to superpriority administrative expense claims, subordinate only to the fee carveout and the DIP superpriority claims. The interim order is available at http://bankrupt.com/misc/SIMADHoldings_IDIPOrder299.pdf A final hearing is scheduled for July 13. The primary driver behind the request for DIP financing is an acute, immediate liquidity crisis that threatens to disrupt the Debtors' summer camp operations. During the high-expense summer season, the Debtors require millions of dollars to fund critical operational framework items, including payroll, vendor obligations, staffing, food services, programming, and medical support. Without an immediate capital infusion, the Debtors will be unable to fulfill basic camp necessities, creating an immediate risk to their enterprise value as well as the safety, health, and welfare of thousands of young campers. After vetting various options under severe time constraints, the Debtors negotiated a financing agreement with their existing secured creditors, executing a DIP term sheet on June 24, 2026. About SIMAD SIMAD owns and operates a portfolio of 30- day and sleepaway summer camps located primarily in the eastern United States, including New Jersey, New York, Maine, and Pennsylvania. Operating in the summer camp sector since 2006, the company's camps generally run from June through August and enroll approximately 20,500 children annually. SIMAD's camps offer programs across sports, academics, arts, technology, and religion, with each camp separately branded and independently operated through its own management, staff, accounting, and operational infrastructure. SIMAD Holdings Ltd sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-16388) on June 4, 2026. In its petition, the Debtors reported estimated assets of $100 million to $500 million and estimated liabilities of $500 million to $1 billion. The petitions were signed by Assaf Ravid as chief restructuring officer. The Debtors' Restructuring & Bankruptcy Counsel is Cole Schotz P.C. The Debtors' financial advisor and investment banker is B. Riley Securities, Inc. The Debtors' claims and noticing agent is Kroll Restructuring Administration LLC. Mishmeret Trust Company Ltd., as DIP agent, is represented by: Joseph L. Schwartz, Esq. Daniel A. Bloom. Esq. RIKER DANZIG LLP 7 Giralda Farms, Suite 250 Madison, NJ 07940 Telephone: (973) 538-0800 jschwartz@riker.com dbloom@riker.com -and- Michael Friedman, Esq. Jorge Eric Coronel Hamilton, Esq. CHAPMAN AND CUTLER LLP 1270 Avenue of the Americas, 30th Floor New York, NY 10020 Telephone: (212) 655-2508 friedman@chapman.com jcoronel@chapman.com -and- Stephen Richard Tetro II, Esq. CHAPMAN AND CUTLER LLP 320 South Canal Street Chicago, IL 60606 Telephone: (312) 845-3859 stetro@chapman.com SPEYSIDE HOLDINGS: Gets Interim OK to Use Cash Collateral --------------------------------------------------------- Speyside Holdings LLC and affiliated debtors received sixth interim approval from the U.S. Bankruptcy Court for the Eastern District of New York to use cash collateral. Under the sixth interim order, the Debtors are authorized to use SpeyLo Holdings LLC's cash collateral only in accordance with the approved budget through July 22. As adequate protection, SpeyLo will be granted automatically perfected replacement liens on postpetition assets of the same nature and priority as its pre-petition collateral, excluding Chapter 5 avoidance actions and their proceeds. The Debtors must also make adequate protection payments of $0.94 per ton of rock sold to SpeyLo, pay applicable post-petition real estate taxes, and ensure affiliated entities satisfy specified tax and mortgage interest obligations related to the Yaphank real estate. The order imposes extensive reporting requirements, including weekly financial statements, accounts payable and receivable aging reports, cash receipts, payment schedules, sales, production, collections, crushing reports, budget variance analyses, and management commentary. Before the expiration of the interim order, the Debtors must also provide five-week operational and financial projections, including projected cash flows, balance sheets, operating results, production volumes, sales, and monthly financial statements relating to the quarry and Yaphank properties. The court preserved all parties' rights regarding the validity of liens, claims, defenses, and requests for additional adequate protection or discovery. The order also includes a carveout for U.S. Trustee fees and up to $10,000 for a potential Chapter 7 trustee if the case is converted. A copy of the Debtor's budget is available at https://shorturl.at/Hy8cD from PacerMonitor.com. The next hearing on the motion is scheduled for July 22, with objections due by July 15. About Speyside Holdings LLC Speyside Holdings, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. N.Y. Case No. 8-26-70730) on February 20, 2026. In the petition signed by Eugene Fernandez, managing member, the Debtor disclosed up to $10 million in both assets and liabilities. Judge Sheryl P. Giugliano oversees the case. Gary C. Fischoff, Esq., at BFSNG Law Group, LLP, represents the Debtor as legal counsel. STONEBRIDGE GOLF: Case Summary & 20 Largest Unsecured Creditors --------------------------------------------------------------- Lead Debtor: Stonebridge Golf Holdings LLC 3 Allison Way Princeton, NJ 08540-8560 Business Description: Stonebridge Golf Holdings LLC operates Stonebridge Golf & Country Club, a 902-acre golf and residential community in Albany, Georgia, featuring an 18-hole golf course, clubhouse, banquet and dining facilities, tennis courts, pool, fitness center and event venues, while affiliated Stonebridge Land Development LLC owns and markets residential lots within the surrounding master-planned golf community. Chapter 11 Petition Date: July 6, 2026 Court: United States Bankruptcy Court District of New Jersey Two affiliates that concurrently filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code: Debtor Case No. ------ -------- Stonebridge Golf Holdings LLC 26-17727 Stonebridge Land Development LLC 26-17728 Judge: Hon. Michael B. Kaplan Debtors' Counsel: Richard D. Trenk, Esq. TRENK ISABEL SIDDIQI & SHAHDANIAN P.C. 290 W. Mt. Pleasant Avenue Suite 2370 Livingston, NJ 07039 Tel: (973) 533-1000 Fax: (973) 533-1111 E-mail: rtrenk@trenkisabel.law Stonebridge Golf's Total Assets: $4,000,000 Stonebridge Golf's Total Liabilities: $1,025,824 Stonebridge Land's Total Assets: $4,952,315 Stonebridge Land's Total Liabilities: $1,868,000 The petitions were signed by Brijendera Singh as member. Full-text copies of the petitions, which includes a list of Stonebridge Golf's 20 largest unsecured creditors, are available for free on PacerMonitor at: https://www.pacermonitor.com/view/ZPGOWQI/Stonebridge_Golf_Holdings_LLC__njbke-26-17727__0001.0.pdf?mcid=tGE4TAMA https://www.pacermonitor.com/view/ZYCXJRQ/Stonebridge_Land_Development_LLC__njbke-26-17728__0001.0.pdf?mcid=tGE4TAMA STRONG ABODE: Section 341(a) Meeting of Creditors on July 24 ------------------------------------------------------------ On June 19, 2026, Strong Abode Construction LLC filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Northern District of Texas. According to court filings, the Debtor reports between $500,000 and $1 million in liabilities, between $100,000 and $500,000 in assets, and 1–49 creditors. A meeting of creditors under Section 341(a) to be held on July 24, 2026 at 08:30 AM by TELEPHONE. About Strong Abode Construction LLC Strong Abode Construction LLC filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Tex. Case No. 26-42676) on June 19, 2026, listing $100,001 to $500,000 in assets and $500,001 to $1 million in liabilities. Judge Edward L Morris presides over the case. Craig Douglas Davis, Esq. at Davis, Ermis & Roberts, P.C. serves as the Debtor's counsel. STUCKEY PREMIER: Gets OK to Use Cash Collateral Until July 31 ------------------------------------------------------------- Stuckey Premier Enterprises, LLC received third interim approval from the U.S. Bankruptcy Court for the Eastern District of North Carolina, New Bern Division, to use cash collateral through July 31. Under the third interim order, the Debtor is authorized to use cash collateral pursuant to an approved budget covering the period from July 1 to 31, subject to a 10% variance per line item. The budget shows projected receipts of $40,000 against expenses of ($42,293), including payroll ($12,800), Sysco supplies ($13,000), rent ($4,168), taxes ($3,300), and other operating costs. This results in an estimated positive cash balance of $8,551.00, which supports the feasibility of continued operations. Creditors including The Huntington National Bank (as assignee of TCF Equipment Finance) and First Internet Bank of Indiana (as assignee of ApplePie Capital), may hold security interests in its operating revenues and deposit accounts based on UCC-1 filings, though the Debtor disputes or questions some of these obligations and includes them out of caution. As adequate protection, the liens held by secured creditors extend to post-petition assets notwithstanding Bankruptcy Code section 552. In addition, the interim order requires the Debtor to remain current on all post-petition taxes and prohibits asset transfers outside the ordinary course of business without creditor consent or court approval. The order is available at https://shorturl.at/TrOL8 The next hearing is scheduled for July 22. About Stuckey Premier Enterprises LLC Stuckey Premier Enterprises, LLC operates a single Jimmy John's restaurant in Goldsboro, North Carolina. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. N.C. Case No. 26-02108-5-JNC) on May 8, 2026. In the petition signed by Thomas Stuckey, member/manager, the Debtor disclosed up to $100,000 in assets and up to $50,000 in liabilities. Judge Joseph N. Callaway oversees the case. George Mason Oliver, Esq., at the Law Offices of George Oliver, PLLC, represents the Debtor as legal counsel. SUPRA NATIONAL: Unsecureds Will Get 7% of Claims in Plan -------------------------------------------------------- Supra National Express, Inc. filed with the U.S. Bankruptcy Court for the Central District of California a Disclosure Statement describing Chapter 11 Plan dated June 26, 2026. The Debtor was formed and began operations in October 2014 to provide turn-key transportation and logistics services to companies importing goods through Los Angeles, California. This Bankruptcy Case was intended to afford, and has afforded, the Debtor a breathing spell from its creditors as it concentrated its efforts on implementing its ongoing strategy of reducing costs and increasing profitability by (a) reducing handling capacity to what is in-line with current needs of the Debtor's existing customers, but with the ability to increase capacity if needed for any material increases in demand, (b) reducing operating costs through right-sized handling capacity, and (c) seeking new customers. In addition to improving the operation of its core logistics business, the Debtor is pursuing other streams of income related to the provision of EV charging to commercial vehicles. After the Petition Date, the Debtor obtained conditional approval for a grant in the amount of $3,306,435 from the State of California to install 28 industrial EV chargers for long-haul electric vehicles on one of the five acre parcels of the Shafter Property so that the Debtor can eventually generate revenue from the Shafter Property as a charging station. Since the Debtor can only obtain the grant funds for this EV charging project after expending funds for the project and documenting for the State of California the disbursements made for the project, the Debtor may have to partner with providers of EV chargers, charging station designers, and/or others to complete this project. The Debtor is engaged in efforts to obtain partners. To the extent required, the Debtor will seek Bankruptcy Court approval of any agreements with partners for this EV project. The Debtor currently expects the foregoing EV charging project to be completed and generating revenue within 1 year to 18 months. The Plan is a reorganization plan whereby the Debtor intends to reorganize around the continued operation of its logistics business. However, as set forth herein and in the Plan, during the term of the Plan, the Debtor intends to fund some Plan payments by (1) refinancing its owned real property located at Sec. of Hwy. 43 and San Diego Street, Shafter, CA 93263 (the "Shafter Property"), which is an approximately 80-acre, industrially zoned, vacant lot and yard comprised of seven parcels, three 20 acre parcels and four 5 acre parcels and/or (2) selling one or more parcels of the Shafter Property. Class 9 consists of All General Unsecured Claims. In full and final satisfaction of their Claims and any guaranties thereof, the Holders of Allowed General Unsecured Claims will share a collective pot of $211,529.47, which will be disbursed on a quarterly basis as set forth in the Plan Projections. Upon payment of $211,529.47 to the Holders of Allowed General Unsecured Claims pursuant to the Plan, any guaranties of the underlying General Unsecured Claims shall be deemed to be released and of no further force and effect. As set forth in the Plan Projections and the Claims Chart, the Holders of Allowed General Unsecured Claims are projected to receive a distribution of 7.0% on their Claims (distributions in the total amount of $592,282.51 on Allowed General Unsecured Claims divided by projected Allowed General Unsecured Claims in the estimated amount of $8,461,178.70). On the Effective Date, Daniel Linares will retain his 100% of the Equity Interests in the Debtor without any change for such Equity Interests. The Plan will be funded from (1) cash on hand, (2) cash received from the sale of Accounts Receivable to Bay View pursuant to the DIP Factoring Documents in the ordinary course of business, (3) other future operating revenue, including any derived from the EV charging projects, and (4) a refinancing the Shafter Property and/or selling one or more parcels of the Shafter Property, all as set forth in the Plan Projections. A full-text copy of the Disclosure Statement dated June 26, 2026 is available at https://urlcurt.com/u?l=5MT7rN from PacerMonitor.com at no charge. Supra National Express is represented by: Todd M. Arnold, Esq. Ron Bender, Esq. Robert M. Carrasco, Esq. Levene, Neale, Bender, Yoo & Golubchik LLP 2818 La Cienega Avenue Los Angeles, CA 90034 Telephone: (310) 229-1234 About Supra National Express Supra National Express provides logistics and transportation services, including drayage, warehousing, and international freight, operating primarily from Long Beach and Carson, California, near the Ports of Los Angeles and Long Beach. The Company maintains a fleet of specialized equipment and is licensed as a Non-Vessel Operating Common Carrier (NVOCC), offering technology solutions for transportation management. Supra National Express sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Cal. Case No. 25-19576) on October 28, 2025. In its petition, the Debtor reports estimated assets between $1 million and $10 million and estimated liabilities between $10 million and $50 million. Honorable Bankruptcy Judge Neil W. Bason handles the case. The Debtor is represented by Ron Bender, Esq., at Levene, Neale, Bender, Yoo & Golubchik, LLP. TOLLANIS TECHNOLOGY: Section 341(a) Meeting of Creditors on July 21 ------------------------------------------------------------------- On June 19, 2026, Tollanis Technology Solutions, Inc. filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Southern District of Florida. According to court filings, the Debtor reports between $1 million and $10 million in liabilities, estimated assets between $100,000 and $500,000, and 1-49 creditors. A meeting of creditors under Section 341(a) to be held on July 21, 2026 at 11:30 AM by TELEPHONE. About Tollanis Technology Solutions Inc. Tollanis Solutions Inc. is a Veteran-Owned Small Business based in Deerfield Beach, Florida. The company provides managed IT services, contact center solutions, healthcare credentialing, travel technology, digital transformation, and automation services. Tollanis Solutions serves customers in healthcare, government, travel, entertainment, retail and ecommerce, and manufacturing. The company previously operated as Tollanis International Inc. before rebranding to reflect its focus on managed IT and digital transformation services. The Debtor sought protection under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 26-18089) on June 19, 2026, with $183,304 in assets and $2,094,756 in liabilities. Stephen Smith, president, signed the petition. Chad Van Horn, Esq., at Van Horn Law Group, P.A. represents the Debtor as legal counsel. TONIX PHARMACEUTICALS: Registers 1.68MM Shares Under Stock Plans ---------------------------------------------------------------- Tonix Pharmaceuticals Holding Corp. has filed a Registration Statement on Form S-8 with the U.S. Securities and Exchange Commission to register an aggregate of 1,680,629 additional shares of the Company's common stock, par value $0.001 per share, consisting of 680,629 shares under the Company's Amended and Restated 2020 Stock Incentive Plan, as amended, and 1,000,000 shares under the Company's 2026 Stock Incentive Plan. The 680,629 additional shares registered under the 2020 Plan reflect an automatic annual increase pursuant to the plan's Evergreen Provision, which provides for an annual increase on January 1 of each year in an amount equal to the difference between 20% of the total number of shares of Common Stock outstanding on December 31 of the preceding calendar year and the total number of shares of Common Stock reserved under the 2020 Plan on December 31 of such preceding calendar year, or a lesser number of shares determined by the board of directors. The 2026 Plan was adopted on May 7, 2026, upon which no additional shares of Common Stock may be issued under the 2020 Plan. The 1,000,000 shares registered under the 2026 Plan reflect the full share reserve available for issuance thereunder. Tonix Pharmaceuticals Holdings Corp. may be reached through: Seth Lederman Chief Executive Officer Tonix Pharmaceuticals Holding Corp. 200 Connell Drive, Suite 3100 Berkeley Heights, NJ 07922 Tel: (862) 904-8182 A full text copy of the registration statement is available at https://tinyurl.com/5v4wv4y6 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. TPI COMPOSITES: Court Confirms Joint Chapter 11 Plan of Liquidation ------------------------------------------------------------------- Judge Christopher Lopez of the U.S. Bankruptcy Court for the Southern District of Texas, Houston Division, approved the Disclosure Statement and confirmed the Amended Joint Chapter 11 Plan of Liquidation of TPI Composites, Inc. and Certain of Its Affiliated Debtors. On May 22, 2026, TPI Composites, Inc., TPI Texas, LLC, TPI International, LLC, TPI Turkey, LLC, TPI APAC, LLC, TPI APAC II, Inc., TPI Turkey II, LLC, TPI Turkey Izbas, LLC, TPI Composites Services, LLC, TPI Mexico, LLC, TPI Mexico II, LLC, TPI Mexico III, LLC, TPI Mexico IV, LLC, Ponto Alto Holdings, LLC, TPI Arizona, LLC, TPI Iowa, LLC, TPI Iowa II, LLC, Composite Solutions, Inc., TPI Holdings Mexico, LLC, and TPI Technology, Inc. (collectively, the "RemainCo Debtors"), as debtors and debtors in possession in the above captioned chapter 11 cases (collectively with TPI Mexico V, LLC and TPI Mexico VI, LLC, the "Debtors"), proposed and filed the Amended Joint Chapter 11 Plan of Liquidation of TPI Composites, Inc. and Certain of Its Affiliated Debtors (the "Plan"), and filed the Disclosure Statement for Amended Joint Chapter 11 Plan of Liquidation of TPI Composites, Inc. and Certain of Its Affiliated Debtors (the "Disclosure Statement"). The Disclosure Statement is approved on a final basis as having adequate information as contemplated by section 1125(a)(1) of the Bankruptcy Code. The holders of Claims in Class 3 (Senior Secured Term Loan Claims) are Impaired under the Plan and voted to accept the Plan in the numbers and amounts required by section 1126 of the Bankruptcy Code at each RemainCo Debtor. The holders of Claims in Class 4 (General Unsecured Claims) are Impaired under the Plan and voted to accept or were deemed to accept the Plan at all but six of the RemainCo Debtors. The Plan and each of its provisions are confirmed pursuant to section 1129 of the Bankruptcy Code. Any objections to approval of the Disclosure Statement or confirmation of the Plan are overruled on the merits and denied. As shared by the Troubled Company Reporter, the Bankruptcy Court permitted TPI Composites Inc. to sell Property, free and clear of all liens, claims, interests, and encumbrances. The Debtors are wind-blade manufacturer and the only independent wind blade manufacturer with a global footprint. The Debtor sought approval for the sale of certain Transferred Assets of a Debtor, including the assignment of Finished Goods Inventory and accounts Receivables by APAC II. The Court authorized the Debtor to sell the Property to Vestas Wind Technology India Private Limited. A copy of the Court's Findings of Fact, Conclusions of Law, and Order dated July 1, 2026, is available at https://urlcurt.com/u?l=XRbKfP from Pacermonitor.com. About TPI Composites TPI Composites, Inc., is a global company focused on innovative and sustainable solutions to decarbonize and electrify the world. TPI delivers high-quality, cost-effective composite solutions through long-term relationships with leading OEMs in the wind markets. TPI is headquartered in Scottsdale, Arizona and operates factories in the U.S., Mexico, Turkiye and India. TPI operates additional engineering development centers in Denmark and Germany and global service training centers in the U.S. and Spain. On August 11, 2025, TPI Composites, Inc., and several subsidiaries sought Chapter 11 protection (Bankr. S.D. Tex. Lead Case No. 25-34655). TPI disclosed $591,709,000 in total assets against $1,077,146,000 in total debt as of June 30, 2025. The Hon. Christopher M Lopez is the case judge. Weil, Gotshal & Manges LLP is serving as legal counsel, Jefferies LLC. is serving as financial advisor, and Alvarez & Marsal North America, LLC is serving as restructuring advisor to TPI. Kroll is the claims agent. Sullivan & Cromwell LLP and Moelis & Company are serving as advisors to senior secured lenders. The official committee of unsecured creditors tapped Lowenstein Sandler LLP as counsel, Munsch Hardt Kopf & Harr, P.C., as co-counsel., and Berkeley Research Group, LLC, as its financial advisor. TRINSEO PLC: Lenders Seek Authority to File Debt Deal Suit ---------------------------------------------------------- Steven Church of Bloomberg News reports that a group of Trinseo PLC lenders has asked a Texas bankruptcy court for permission to pursue litigation challenging the specialty materials company's pre-bankruptcy debt restructuring transactions. The request, filed by investment funds managed by CastleKnight Management LP, seeks derivative standing to bring claims that Trinseo itself has not pursued. The proposed lawsuit alleges that refinancing transactions undertaken in 2023 and 2024 unfairly benefited favored lenders, including Apollo Global Management, Angelo, Gordon & Co., and Oaktree Capital Management LP. CastleKnight contends the deals transferred valuable collateral and recovery rights to participating lenders while leaving other creditors with diminished claims, the report states. According to the filing, the claims include allegations of breach of fiduciary duty and fraudulent transfer. The lenders argue the bankruptcy estate has viable causes of action but that Trinseo is unwilling to pursue them because the company's restructuring is supported by the same lender groups involved in the challenged transactions. Trinseo entered Chapter 11 in May 2026 to implement a prepackaged restructuring expected to reduce approximately $2 billion in debt. CastleKnight has emerged as one of the plan's principal opponents, continuing to challenge both the restructuring and the earlier liability management transactions, Bloomberg reports. About Trinseo PLC Trinseo PLC, headquartered in Wayne, Pa. -- https://www.trinseo.com/ -- is an international chemical and materials manufacturer specializing in plastics, latex binders, and synthetic rubber products. Its materials are used across industries such as automotive manufacturing, building and construction, electronics, and packaging, supporting a diversified industrial customer base worldwide. Trinseo PLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 26-90115) on May 20, 2026. In its petition, the Debtor reports estimated assets and liabilities between $1 billion and $10 billion each. The Honorable Bankruptcy Judge Alfredo R. Perez handles the case. Latham & Watkins LLP is serving as Trinseo's legal advisor in the restructuring, supported by co-counsel Hunton Andrews Kurth LLP. The company also retained Centerview Partners LLC as investment banker and FTI Consulting as financial and communications advisor. Ernst & Young LLP as tax auditor and tax accountant and Kroll Restructuring Administration LLC as claims agent. Paul Hastings LLP and PJT Partners advised the Senior Secured Lenders. Gibson, Dunn & Crutcher LLP and Howley Law PLLC represent the OpCo 2028 Ad Hoc Group of lenders. Lazard Freres & Co. also represents the group. Gray Reed and Pallas Partners (US) LLP represent the Ad Hoc Group of Excluded OpCo Term Lenders. Paul, Weiss, Rifkind, Wharton & Garrison LLP and Porter Hedges LLP represent an ad hoc group of holders of 7.625% Second Lien Senior Secured Notes due 2029. UNCLE NEAREST: Appeals Court Rejects Weavers' Stay Request ---------------------------------------------------------- Duane Cross of Observer reports that the Sixth Circuit Court of Appeals has refused to temporarily block the expansion of the Uncle Nearest receivership to Grant Sidney Inc., keeping receiver Phillip G. Young Jr. in charge of investigating whether the company holds assets tied to the whiskey brand or other receivership entities. The ruling allows the existing receivership structure to remain in place but does not decide the ultimate ownership or creditor disputes. Fawn Weaver and Grant Sidney had asked the appeals court to stay the receivership expansion and stop proceedings involving the potential sale of a Martha's Vineyard property. The three-judge panel denied the requests, finding that the appellants did not meet the requirements for emergency relief and had not shown that the lower court likely abused its discretion, the report states. The case began after Farm Credit Mid-America sued Uncle Nearest and the Weavers over alleged loan defaults involving more than $108 million in debt. The lender argued it held security interests in most of Uncle Nearest's assets, leading a federal district court to appoint Young as receiver over the company and affiliated entities, according to report. The receivership was later extended to Grant Sidney after the district court raised concerns about transactions involving funds connected to Uncle Nearest. While the receiver may investigate and protect assets, he cannot sell or encumber Grant Sidney property without additional court approval. The appeals court said those safeguards supported leaving the expansion order intact, the report cites. About Uncle Nearest Uncle Nearest Real Estate Holdings, LLC, based in Shelbyville, Tennessee, owns the Nearest Green Distillery, including the building, furniture, equipment, and fixtures used in its operations. Uncle Nearest was placed under federal receivership in August 2025 after lender Farm Credit Mid-America sought court intervention over alleged loan defaults and financial concerns. A federal judge appointed Phillip G. Young Jr. as receiver, giving him control over the company's operations, assets and restructuring decisions. The receivership involved Uncle Nearest Inc., Nearest Green Distillery Inc., Uncle Nearest Real Estate Holdings LLC and related entities. The court order transferred authority from founders Fawn Weaver and Keith Weaver to the receiver, while allowing them to continue supporting the brand under the receiver's supervision. Farm Credit alleged the company had more than $100 million in debt obligations, while the receiver later evaluated the company's financial condition and explored asset sales or restructuring options. * * * Uncle Nearest sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Tenn. Case No. 26-30472) on March 17, 2026. In its petition, the Debtor reports estimated assets between $50 million and $100 million and estimated liabilities between $10 million and $50 million. Honorable Bankruptcy Judge Suzanne H. Bauknight handles the case. The Debtor is represented by Lynn Tarpy, Esq., of Tarpy,Cox, Fleishmann, & Leveille, PLLC. U.S. Bankruptcy Judge Suzanne H. Bauknight dismissed the bankruptcy filing on March 19, 2026 ruling that only the receiver had authority to initiate such proceedings. The receiver has continued evaluating restructuring options, including a possible sale of major assets. VASILIA INVESTMENTS: Gets Extension to Access Cash Collateral ------------------------------------------------------------- Vasilia Investments, LLC received third interim approval from the U.S. Bankruptcy Court for the Middle District of Florida, Orlando Division, to use cash collateral. The court authorized the Debtor to use cash collateral to pay court-approved expenses, including Subchapter V trustee fees, as well as the operating expenses listed in the latest budget. The authorization remains in effect until further order of the court. The Debtor may exceed individual budget line items by up to 10%, and any additional expenditures require the written consent of Newtek, the secured creditor. As adequate protection, the court granted Newtek and other secured creditors holding security interests in cash collateral automatically perfected post-petition replacement liens with the same validity, priority, and extent as their prepetition liens. In addition, the Debtor must maintain insurance coverage in accordance with its loan and security agreements with Newtek. The order preserves the secured creditor's rights to seek additional adequate protection or other remedies and retains the court's jurisdiction to enforce its terms. A continued hearing on the Debtor's request to use cash collateral is scheduled for August 4. About Vasilia Investments LLC Vasilia Investments, LLC, based in New Smyrna Beach, Florida, owns and operates the Salty Mermaid Oceanfront Hotel, a boutique oceanfront lodging property serving visitors to the New Smyrna Beach area, offering individually designed suites with private patios, beach cabanas, and reserved seating. The hotel provides upscale amenities, including king-size beds, luxury bedding, and curated comforts aimed at creating a high-end beach getaway experience. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 26-01293) on Feb. 25, 2026, with $1 million to $10 million in assets and liabilities. John Kostoglou, manager, signed the petition. Judge Grace E. Robson presides over the case. Katelyn Vinson, Esq., at Jennis Morse represents the Debtor as legal counsel. VOLATO GROUP: Prices 11M-Share Direct Offering at 16.5 Cents ------------------------------------------------------------ Volato Group, Inc. agreed to sell 11,038,767 Class A shares at 16.5 cents each in a registered direct offering, according to a Form 8-K filing with the Securities and Exchange Commission. The company expects gross proceeds of about $1.82 million before transaction fees and offering expenses. The shares are being offered directly to investors without a placement agent or underwriter, and Volato said it is not paying underwriting discounts or commissions. The closing is subject to customary conditions, including approval by the NYSE American LLC of a supplemental listing application for the shares. The securities purchase agreement also restricts certain share issuances and registration statements for 30 days after closing and restricts variable rate transactions for nine months, subject to exceptions. Volato also said Alan Gaines resigned from its board effective June 24, 2026. Gaines told the company he is the founder and executive chairman of a digital infrastructure company that could be viewed as a potential competitor while Volato evaluates strategic alternatives in the AI and digital infrastructure sector. The company said Gaines' resignation was not the result of any disagreement with Volato, its management, the board or any board committee over operations, policies or practices. About Volato Group Volato Group, Inc., is a Chamblee, Georgia-based aviation technology company that connects travelers to private, on-demand flight access and develops proprietary software platforms for enterprise and operational uses. The company's platforms include Mission Control, an internal operations platform for fractional ownership, charter and related aviation services; Vaunt, a private aviation platform that connects travelers with empty-leg flights; and Parslee, an enterprise AI platform. Volato said Vaunt is its primary revenue-generating business and that Parslee entered its first paying pilot programs with external customers during the third quarter of 2025. In an audit report dated March 12, 2026, Elliott Davis, PLLC included a going-concern paragraph, citing Volato Group's accumulated deficit and working capital deficit. The conditions raised substantial doubt about the company's ability to continue as a going concern. As of March 31, 2026, Volato Group reported total assets of $7.91 million, total liabilities of $8.35 million and a stockholders' deficit of $446,000. WHITEEAGLE PROPERTIES: Court Cuts Attorney Fees to $66,285 ---------------------------------------------------------- Chief Judge Mitchell L. Herren of the U.S. Bankruptcy Court for the District of Kansas granted, in part, and denied, in part, the first interim fee application of the law firm of Mark J. Lazzo, P.A., Whiteeagle Properties 22 Corp.'s bankruptcy counsel, for allowance and payment of attorney fees and expenses under 11 U.S.C. Sec. 330. The U.S. Trustee objects to three aspects of the application, objecting to the award of any fees incurred for prepetition work, fees for work on a motion to extend the deadline for the filing of a Subchapter V Chapter 11 plan (Debtor has since redesignated and is no longer proceeding under Subchapter V), and fees for multiple office conferences between two attorneys in the firm, where both attorneys billed their time. The U.S. Trustee's objection to the award of fees for the motion to extend and for office conferences is overruled. The Court finds those fees were reasonable for the actual, necessary services rendered and are therefore compensable from the estate. Of the $73,425 in fees requested, the law firm seeks approval of $7,140 in prepetition fees owed to the firm by Debtor. The Court denies these fees for the law firm's failure to disclose and its lack of disinterestedness. The Court disallows the prepetition fees of $7,140 and allows the postpetition fees of $66,285. A copy of the Court's Order dated July 2, 2026, is available at http://urlcurt.com/u?l=0z8gDsfrom Pacermonitor.com. About Whiteeagle Properties 22 Corp. Whiteeagle Properties 22 Corp. is a property company based in Lindsborg, Kansas, that operates in the real estate sector. Whiteeagle Properties 22 Corp. sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Kan. Case No. 25-10770) on July 28, 2025. In its petition, the Debtor reports estimated assets up to $50,000 and estimated liabilities between $1 million and $10 million. Honorable Bankruptcy Judge Mitchell L. Herren handles the case. The Debtor is represented by Mark J. Lazzo, Esq. at Landmark Office Park. Z SQUARED: Raises $15.42 Million Through Equity Advance ------------------------------------------------------- Z Squared Inc. raised about $15.42 million in gross proceeds after issuing 1,302,806 common shares under a standby equity purchase agreement, according to a Form 8-K filing with the Securities and Exchange Commission. The company issued the shares to YA II PN, Ltd. on June 26, 2026, at $11.8351 a share. The advance was made under a standby equity purchase agreement that the company, then known as Coeptis Therapeutics Holdings, Inc., entered into on Nov. 1, 2024. In a press release furnished as an exhibit to the Form 8-K, Z Squared said it intends to use the net proceeds to support its acquisition and conversion strategy and for general corporate purposes. Z Squared said the financing completed its use of the legacy equity financing arrangement. Z Squared also furnished a press release confirming its inclusion in the Russell 3000 Index and Russell 2000 Index, effective after the close of trading on June 26, 2026, as part of FTSE Russell's 2026 annual reconstitution. About Z Squared Inc. Z Squared Inc., then known as Coeptis Therapeutics Holdings, Inc., is a digital asset mining and digital infrastructure company that operates vertically integrated cryptocurrency mining facilities in North Carolina, South Carolina, and Iowa, mining cryptocurrencies including Dogecoin and Litecoin using specialized ASIC hardware. Following its April 2026 merger with Coeptis Therapeutics Holdings Inc., the company is also pursuing expansion into power generation, data center development, and high-performance compute hosting to support artificial intelligence and other compute-intensive workloads. In an audit report dated March 19, 2026, Astra Audit and Advisory LLC included a going-concern paragraph, citing Coeptis' net losses, negative operating cash flows and working capital deficits. The conditions raised substantial doubt about the company's ability to continue as a going concern. As of March 31, 2026, Z Squared reported total assets of $19.79 million, total liabilities of $2.21 million and stockholders' equity of $17.58 million. [] Ex-U.S. Trustee Lawyer Appointed California Bankruptcy Judge --------------------------------------------------------------- Yun Park of Law360 Bankruptcy Authority reports that veteran Justice Department attorney Edward K. Bernatavicius has been appointed by the Ninth Circuit Court of Appeals to serve as a bankruptcy judge in the Central District of California, where he will fill an open seat in the Riverside division. The appointment adds an experienced bankruptcy practitioner to the federal bench. For many years, Bernatavicius served with the U.S. Trustee Program, handling bankruptcy litigation and overseeing matters involving Chapter 11 reorganizations, Chapter 7 liquidations, and trustee administration. His career has focused on enforcing the integrity of the bankruptcy system and protecting the interests of creditors and the public, the report cites. The Riverside division has experienced a heavy bankruptcy workload, making the appointment significant for the administration of pending and future insolvency cases. The new judgeship is expected to help reduce caseload pressures and improve the timely resolution of proceedings, according to Law360. Bernatavicius will hear a wide range of bankruptcy matters after assuming the bench, including business reorganizations, consumer bankruptcies, adversary proceedings, and contested motions. His background in federal bankruptcy enforcement brings decades of practical experience to the role, the report states. [^] Recent Small-Dollar & Individual Chapter 11 Filings ------------------------------------------------------- In re OBT Restaurant, Inc. D/B/A Old Brewery Tavern Bankr. E.D. Pa. Case No. 26-12759 Chapter 11 Petition filed June 29, 2026 See https://www.pacermonitor.com/view/Z4IRGCY/OBT_Restaurant_Inc_DBA_Old_Brewery__paebke-26-12759__0001.0.pdf?mcid=tGE4TAMA represented by: John Everett Cook, Esq. THE LAW OFFICES OF EVERETT COOK PC E-mail: bankruptcy@everettcooklaw.com In re Duke Biomed LLC Bankr. E.D.N.Y. Case No. 26-72602 Chapter 11 Petition filed June 29, 2026 See https://www.pacermonitor.com/view/IJNG5KI/Duke_Biomed_LLC__nyebke-26-72602__0001.0.pdf?mcid=tGE4TAMA Filed Pro Se In re 2451 Broadway Market Inc. DBA Barzini's Bankr. S.D.N.Y. Case No. 26-11549 Chapter 11 Petition filed June 29, 2026 See https://www.pacermonitor.com/view/EPEITYY/2451_Broadway_Market_Inc_DBA_Barzinis__nysbke-26-11549__0001.0.pdf?mcid=tGE4TAMA represented by: Adrienne Woods, Esq. WEINBERG ZAREH MALKIN PRICE LLP E-mail: awoods@wzmplaw.com In re Pancakes R Us Bankr. C.D. Calif. Case No. 26-16493 Chapter 11 Petition filed June 29, 2026 See https://www.pacermonitor.com/view/OI5N7UI/Pancakes_R_Us__cacbke-26-16493__0001.0.pdf?mcid=tGE4TAMA represented by: Michael Jay Berger, Esq. LAW OFFICES OF MICHAEL JAY BERGER E-mail: michael.berger@bankruptcypower.com In re 2 Fat Guys Investments, Inc. Bankr. W.D. Tex. Case No. 26-51744 Chapter 11 Petition filed June 29, 2026 See https://www.pacermonitor.com/view/KZXUELI/2_Fat_Guys_Investments_Inc__txwbke-26-51744__0001.0.pdf?mcid=tGE4TAMA represented by: Kerry S. Alleyne-Simmons, Esq. PULMAN LEFLORE PULLEN & REED LLP E-mail: kalleyne@pulmanlaw.com In re Michael Ruggiero Bankr. S.D.N.Y. Case No. 26-11536 Chapter 11 Petition filed June 29, 2026 represented by: Julio Portilla, Esq. In re BAZD MEG LLC Bankr. M.D. Fla. Case No. 26-04826 Chapter 11 Petition filed June 29, 2026 See https://www.pacermonitor.com/view/I2K4DAQ/BAZD_MEG_LLC__flmbke-26-04826__0001.0.pdf?mcid=tGE4TAMA Filed Pro Se In re Jesus Enrique Arancibia Anez Bankr. D. Ariz. Case No. 26-06424 Chapter 11 Petition filed June 29, 2026 represented by: M. Gardner, Esq. In re Efrain Renteria Sotelo and Maria Guadalupe Martinez Ramirez Bankr. N.D. Calif. Case No. 26-51010 Chapter 11 Petition filed June 29, 2026 represented by: Arasto Farsad, Esq. In re Lawrence L. Schiff Bankr. N.D.N.Y. Case No. 26-10717 Chapter 11 Petition filed June 30, 2026 represented by: Michael Boyle, Esq. In re Cheri Lynn Valdivieso and Dante Valdivieso Bankr. S.D. Fla. Case No. 26-18669 Chapter 11 Petition filed June 30, 2026 represented by: Adam Skolnik, Esq. In re Maureen J Totaro Bankr. E.D. La. Case No. 26-11583 Chapter 11 Petition filed June 30, 2026 represented by: Paige Jefferson, Esq. In re Marina Kaler Bankr. D. N.J. Case No. 26-17517 Chapter 11 Petition filed June 30, 2026 represented by: Alla Kachan, Esq. ********* 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. 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