260805.mbx

260805.mbx T R O U B L E D C O M P A N Y R E P O R T E R Wednesday, August 5, 2026, Vol. 30, No. 217 Headlines 1309 RED RIVER: Camryn Wheeler Appointed as Estates Representative 137 FALMOUTH: Taps Mark Taub of FIA Capital Partners as CRO 1400 PRAIRIE: Case Summary & Two Unsecured Creditors 2003 MORRIS: Taps Greenbaum Rowe Smith & Davis as Legal Counsel 2159 57 STREET: Claims to be Paid from Property Sale Proceeds 5218 PROPERTY: Hires Gorski & Knowlton PC as Bankruptcy Counsel 75 SECOND AVENUE: Hires Julio E. Portilla PC as Bankruptcy Counsel A&A TAXI: Hires Law Offices of Alla Kachan P.C. as Counsel A&C AUTOWORKS: Gets Final OK to Use Cash Collateral A1A MOVING: Plan Confirmation Hearing Scheduled for Aug. 24 AC EVOLUTION: Seeks to Hire John Desmond as Bankruptcy Counsel AC EVOLUTION: Voluntary Chapter 11 Case Summary ADDISON DENTAL: Court Extends Cash Collateral Access to Sept. 15 ADVANCE CHIMNEY: Unsecureds Will Get 100% of Claims over 10 Years AIDA CAB: Hires Law Offices of Alla Kachan P.C. as Counsel ALL AMERICAN: Seeks Subchapter V Bankruptcy in New Jersey ALLIUM BUYER: S&P Assigned 'B' ICR, Outlook Positive AMYNTA AGENCY: Moody's Ups CFR to B2 & Sr. Secured Term Loan to B1 APPLE TREE: Placed Under New Management ASHTON WOODS: S&P Alters Outlook to Negative, Affirms 'BB-' ICR AUTHENTIC FLAVOR: Seeks Subchapter V Bankruptcy in Florida AVANTGARDE SENIOR: Hires Levene Neale Bender as Bankruptcy Counsel AVANTGARDE SENIOR: Seeks to Hire Sherman & Roylance as Broker AZHDERIAN COLD: Hires Harris Law Firm PC as Bankruptcy Counsel BARCELONA BEST: Court Orders Appointment of Chapter 11 Trustee BELLA CAPRI: Plan Confirmation Hearing Scheduled for Aug. 25 BLEU NOVO: $430K Unsecured Claims to Recover 10% over 3 Years BOY SCOUTS: Ex-Counsel Blamed for $2.7MM Loss BRAYMAN PRECAST: Hires Omni Agent as Claims and Noticing Agent BRAYMAN PRECAST: Taps Omni Agent Solutions as Administrative Agent BRAZAS CHICKEN: Court Extends Cash Collateral Access to Sept. 3 BRIDGE TO ADULTHOOD: Seeks to Extend Plan Exclusivity to Aug. 24 BUCKINGHAM SENIOR LIVING: Gets Extension to Access Cash Collateral BY HOTEL: Plan Exclusivity Period Extended to Oct. 5 CAB PROPERTIES: Hires Tarpy Cox Fleishmann & Leveille as Counsel CACERES SPECIALIZED: Affiliate Gets Court OK to Use Cash Collateral CAMP MYSTIC: Hires Vartabedian Katz Hester & Haynes as Attorney CAMP MYSTIC: Seeks to Hire CR4 Partners LLC as Financial Advisor CAMP MYSTIC: Seeks to Hire Ordinary Course Professionals CAMP MYSTIC: Taps Karen Nicolaou of HMP Advisory Holdings as CRO CANDICE SKINNER: Case Summary & 11 Unsecured Creditors CICCARELLI & SONS: Plan Exclusivity Period Extended to Sept. 27 CLACKAMAS PHYSICAL: Gets Interim OK to Use Cash Collateral COMJOT LLC: Hires Sternberg Naccari & White LLC as Attorney CONNECTWISE LLC: Moody's Alters Outlook on 'B2' CFR to Negative CORRIDOR GARDENS: Hires Scott B. Riddle LLC as Bankruptcy Counsel COSAMIA LLC: Court OKs Continued Access to Cash Collateral COSTELLO PROPERTIES: Commences Chapter 11 Bankruptcy in New York CPG RESTAURANT: Files Amendment to Disclosure Statement D 5030 WESTMINSTER: Gets Final OK to Use Cash Collateral DAN LEPORE & SONS: Court Extends Cash Collateral Access to Aug. 30 DAYTONA THUNDER: Cash Collateral Hearing Set for Aug. 6 DEPG DINGMANS: Hires Newmark Valuation & Advisory as Appraiser DETROIT DUMPSTER: Unsecureds Will Get 100% over 60 Months DILLING PA: Plan Confirmation Hearing Scheduled for Aug. 26 DISCOUNT WAREHOUSES: Gets Extension to Access Cash Collateral DOW RUMMEL: Fitch Affirms 'BB' IDR, Outlook Stable EL-BOGHDEDY EXPRESS: Hires Law Offices of Alla Kachan as Counsel ELITE PRINTING: Second Amended Plan of Reorganization Confirmed EMERALD X: S&P Withdraws 'B+' ICR Following Acquisition ENVELOPE 1 INC: Amends Several Secured Claims Pay Details ERIE KASH: Gets Final OK to Use Cash Collateral ETEGRA INC: Plan Confirmation Hearing Scheduled for Sept. 9 ETERNO RESORT: Case Summary & 20 Largest Unsecured Creditors FALLS OF PARRAMATTA: CRO Hires Epps & Coulson LLP as Counsel FAMILY DOLLAR: Fitch Rates $450MM Secured Bond 'BB+' FIRST BRANDS: Seeks to Extend Plan Exclusivity to Sept. 21 FLORIDA KEYS: Gets Extension to Access Cash Collateral FORDHAM LANDING: Taps Goldberg Weprin Finkel as Bankruptcy Counsel FORTUNA STONEWORKS: Court Extends Cash Collateral Access to Aug. 12 FRANKIE MARTIN: Case Summary & Two Unsecured Creditors FREEDOM FOREVER: Hires Robert Pincus as Independent Consultant FUEL GROUP: Hires DeMarco Mitchell PLLC as Bankruptcy Counsel FUTURE LEGENDS 5: Voluntary Chapter 11 Case Summary GLG INVESTMENTS: Hires Trustee Realty as Real Estate Broker GOLDEN STATE: Moody's Affirms 'B3' CFR, Outlook Remains Stable GOLDENPEAKS POLAND: Brookfield Faces Growing Dispute with Creditors GOLDENPEAKS POLAND: Committee Taps KKG Legal as Polish Counsel GOLF SERVICES: Plan Confirmation Hearing Scheduled for Sept. 1 GREEN SAPPHIRE: Involuntary Chapter 11 Case Summary GREENE P INC: Case Summary & Six Unsecured Creditors HAK ENTERPRISES: Plan Confirmation Hearing Rescheduled for Aug. 12 HALLMARK FINANCIAL: Plan Confirmation Hearing Scheduled for Aug. 25 HARLOW ENTERPRISES: Unsecureds Will Get 100% over 60 Months HILLMAN SOLUTIONS: S&P Places 'BB+' Term Loan Rating on Watch Neg. HIS WAY SIGN: Court Extends Cash Collateral Access to Sept. 10 HUDSON RIVER: Fitch Alters Outlook on 'BB' LongTerm IDR to Positive HUGHES SATELLITE: S&P Downgrades ICR to 'D' on Chapter 11 Filing HUGHES SATELLITE: Seeks Ch.11 Bankruptcy to Boost Capital Structure IN DUE SEASON: Gets Extension to Access Cash Collateral INGLES PRODUCE: Gets Final OK to Use Cash Collateral INTEGER HOLDINGS: S&P Places 'BB-' ICR on CreditWatch Negative J&J HOSPITALITY: Hires Wilke CPAs & Advisors, LLP as Accountant J.F.M. 6090: Plan Confirmation Hearing Scheduled for Aug. 25 JACKSON BROWN: Case Summary & Eight Unsecured Creditors JONES ENTERPRISE: Claims to be Paid from Rental Income KONA COAST: Appoints Eric Taube of ET Mediation as Mediator KONA COAST: Taps Gregory S. Milligan of Harney Partners as CRO KWR BEDFORD: Voluntary Chapter 11 Case Summary LAKE BUENA VISTA: Court Extends Cash Collateral Access to Sept. 30 LAKE EFFECT: Court Extends Cash Collateral Access to Aug. 12 LIA HOSPITALITY: Final Hearing Today on Bid to Obtain DIP Loan LOCK 27 BREWING: Unsecureds Will Get 4.4% of Claims in Plan LOUIS INVESTMENTS: Taps Lerner Harris Law as Special Counsel LTR HOLDINGS: Unsecureds Will Get 83.16% of Claims over 5 Years M & M BUCKLEY: Seeks to Extend Plan Exclusivity to Sept. 30 MAMBA PURCHASER: S&P Affirms 'B' Rating on Sr Sec. First-Lien Debt MARINE WHOLESALE: Gets Court Nod to Use Cash Collateral MARTIN CENTRAL: Seeks Chapter 11 Bankruptcy in Texas MARTIN MIDSTREAM: Debts Exceed Assets by $90.2M at June 30 MARTINES PALMEIRO: Amends Unsecured Claims Pay MATTHEW W. CERNIGLIA: Unsecureds to Get $300 per Month over 5 Years MCGEACHY HOLDINGS: Gets Extension to Access Cash Collateral MG LOGISTICS: Amends Unsecured Claims Pay Details MKM HOLDINGS: Hires Lake Martin Real Estate LLC as Broker MONOGRAM FOOD: S&P Rates New Senior Secured Credit Facilities 'B' MORRISON HOSPITAL: Court Extends Cash Collateral Access to Oct. 23 MOUNTAIN POWER: Gets Extension to Access Cash Collateral MULBERRYS MOBILE: Hires Latham Luna Eden as Bankruptcy Counsel MULFORD CONSTRUCTION: Seeks to Extend Plan Exclusivity to Nov. 24 NAIMA CAB: Seeks to Hire Alla Kachan P.C. as Attorney NEPTUNE INSURANCE: Debts Exceed Assets by $222.2M at June 30 NEW BETHEL: Court Confirms Third Amended Plan of Reorganization NEW HORIZON: Case Summary & Six Unsecured Creditors NFUZE LLC: Seeks to Hire Kept Books LLC as Accountant OCEANWIDE PLAZA: Files Amendment to Disclosure Statement OLD RICHMOND: Taps Venture Realty as Commercial Real Estate Broker OMNI HEALTH: Gets Final OK to Use Cash Collateral OMNIS PLEASANTS: Case Summary & 30 Largest Unsecured Creditors PACIFICA OF THE VALLEY: Seeks Court OK to Sell Future Receivables PALM BEACH: Unsecureds Will Get 1.7% of Claims over 60 Months PALMETTO THERAPY: Unsecured Creditors "Unimpaired" in Plan PAP-R PRODUCTS: Plan Exclusivity Period Extended to Aug. 31 PARKSTONE BRONXWOOD: Fannie Mae Wants Ian Lagowitz as Receiver PERFORMANCE CONSULTING: Gets Final OK to Use Cash Collateral PERFORMERS EDGE: Gets Final OK to Use Cash Collateral PLEASANT GROVE: Seeks to Hire Vestcorp LLC as Accountant PLYMOUTH PLACE: Fitch Affirms 'BB+' IDR, Outlook Stable PMIC PROPERTY: Case Summary & Three Unsecured Creditors PREMIER GENERATOR: Unsecured Creditors to Split $57K in Plan PREMIER MEAT: Plan Confirmation Hearing Scheduled for Aug. 28 PREMIUM EDGE: Court Extends Cash Collateral Access to Aug. 26 PRO ATHLETICS: Gets Final OK to Use Cash Collateral PRO CARPENTRY: Amends Unsecured Claims Details R MCLAIN: Seeks to Hire Levis Law Firm as Bankruptcy Counsel RALIAM HOSPITALITY: Final Hearing Today on Bid to Obtain DIP Loan RAZAD ENTERPRISES: Hires Lane Law Firm PLLC as Bankruptcy Counsel RAZAD ENTERPRISES: Seeks Subchapter V Bankruptcy in Texas RELSSEK INVESTMENTS: Hires Middlebrooks Shapiro P.C. as Attorney RESIDENTIAL PROPERTIES: Seeks Chapter 11 Bankruptcy in Wisconsin RIDGEVIEW REALTOR: Voluntary Chapter 11 Case Summary RUM SUGAR: Taps Ryan Gutierrez as Certified Public Accountant RYAN FAMILY: Voluntary Chapter 11 Case Summary SAILORMEN INC: Gets Court Nod to Use Cash Collateral for Payroll SALEM POINTE: Updates Unsecureds & Rarity Bay Secured Claims SANCTUS RANCH: Seeks Chapter 11 Bankruptcy in Texas SANDERS & ASSOCIATES: Plan Confirmation Hearing Set for Aug. 17 SANDY ALEXANDER: SSG Served as Investment Banker in Asset Sale SAPPHIRE EXCHANGE: Unsecureds to Split $19,950 over 3 Years SHAW WELLNESS: Plan Confirmation Hearing Scheduled for Aug. 28 SISTERS OF ST. ANN: Hires Boston Growth Partners as Consultant SMYRNA READY: Fitch Lowers LongTerm IDR to 'B+', Outlook Stable SPEYSIDE HOLDINGS: Court Extends Cash Collateral Access to Sept. 1 SPIRIT AIRLINES: Selects DPC Holdco as Stalking Horse Bidder SPOKE MEDIA: Seeks to Hire Tran Singh LLP as Attorney STUDENTROOMSTAY: Seeks Subchapter V Bankruptcy SUN GIR: Trustee Taps Oliver Wyman as Financial Advisor SURGERY CENTER: Moody's Cuts CFR to B3 & Alters Outlook to Stable TEDDER INDUSTRIES: Unsecureds Will Get 6.5% to 24.5% in Plan TERRAFORM POWER: Moody's Affirms 'Ba3' CFR, Outlook Remains Stable TGI FRIDAY'S: Court Confirms Joint Chapter 11 Plan of Liquidation THERAPY TREE: Gets Final OK to Use Cash Collateral Until Oct. 2 THOMAS TRIO: Court Extends Cash Collateral Access to Aug. 19 TIMBER PROS: Creditors to Get Proceeds from Liquidation TIMOTHY E. RYAN: Voluntary Chapter 11 Case Summary TOP QUALITY: Taps Accounting Freedom Group LLC as Accountant TRACES OF TIGER: Court Extends Cash Collateral Access to Aug. 25 TRQ SALES: Fitch Alters Outlook on 'BB-' IDR to Negative TWO SISTERS: Voluntary Chapter 11 Case Summary U.S. TELEPACIFIC: Secures Final OK for $73.5MM DIP Loan UNIROYAL HOLDINGS: Seeks Ch.11 Bankruptcy to Tackle Asbestos Claims USA CRICKET: Trustee Taps Foley Hoag LLP as Special Counsel VERANDA PARK: Case Summary & One Unsecured Creditor VERISIGN INC: Liabilities Exceed Assets by $2.3-Bil. at June 30 VI-JON LLC: Seeks Chapter 11 Bankruptcy with $25MM Talc Deal VIRTU FINANCIAL: Fitch Affirms 'BB-' LongTerm IDR, Outlook Stable WANAMAKER GROUP: Seeks Subchapter V Bankruptcy in D.C. WATER OAKS: Unsecured Creditors to be Paid in Full over 5 Years WELCOME GROUP: Court Extends Cash Collateral Access to Nov. 1 WHITE RHINO: Unsecureds to Get Share of Income for 3 Years WORKFORCE RESOURCE: Gets Final OK to Use Cash Collateral WORLD CLASS: Gets Extension to Access Cash Collateral XEROX HOLDINGS: Sold Tariff Refund Claims to Tackle Mounting Debt YSA INVESTMENTS: Seized Oklahoma Property w/o Notice, Lender Says YSA INVESTMENTS: Voluntary Chapter 11 Case Summary [] Abutbul Joins DLA Piper's Global Capital Solutions Practice [] Jackson Walker, Trustee Strike $15MM Deal in Romance Dispute [] Marshak Joins Simpson Thacher's Capital Solutions Team [] Two New Attorneys Join Kirkland's Restructuring Group ********* 1309 RED RIVER: Camryn Wheeler Appointed as Estates Representative ------------------------------------------------------------------ Judge Shad M. Robinson of the U.S. Bankruptcy Court for the Western District of Texas granted the motion of William G. Wendlandt and 1309 Red River Development LLC to appoint Camryn Wheeler as the Debtors' estates representative. The Court finds that it is in the bankruptcy estates' best interest to appoint Camryn Wheeler as the sole estates' representative for the Debtors in cases 25-10657 and 25-10670. Camryn Wheeler's powers under the Statutory Durable Power of Attorney include, but are not limited to, the signing under penalty of perjury of monthly operating reports; filing a proposed disclosure statement and plan and all related documents; authorizing and signing all documents related to a sale of an asset in the Debtors' bankruptcy cases; the filing of any tax related documents required for the Debtors' bankruptcy cases; access to and control over any and all of Debtors' financial accounts; the payment of all fees due under 28 U.S.C. Sec. 1930; and to maintain adequate insurance. A copy of the Court's Order dated July 24, 2026, is available at https://urlcurt.com/u?l=NBZTFX from Pacermonitor.com About 1309 Red River Development Company LLC 1309 Red River Development Company LLC is a real estate leasing company based in Victoria, Texas, specializing in owning and leasing commercial properties, providing spaces for retail and office use. 1309 Red River Development Company LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Tex. Case No. 25-10670) on May 5, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. The Honorable Bankruptcy Judge Shad Robinson handles the case. The Debtor is represented by Ronald Smeberg, Esq., at THE SMEBERG LAW FIRM. 137 FALMOUTH: Taps Mark Taub of FIA Capital Partners as CRO ----------------------------------------------------------- 137 Falmouth Street LLC seeks approval from the U.S. Bankruptcy Court for the Eastern District of New York to hire FIA Capital Partners, LLC and designate Mark Taub as chief restructuring officer, together with such other FIA professionals, including David Goldwasser. The CRO shall have the following authority: (a) operational control, including authority over tenant communications, lease matters, and property maintenance; (b) financial management, including supervision of cash collateral usage, approval of budgets, and insurance coverage; (c) development and implementation of a restructuring or disposition strategy, including a sale of the Property pursuant to section 363 of the Bankruptcy Code; and (d) authority to retain third-party vendors or advisors, such as brokers or property managers, to enhance operational and financial performance. FIA's standard hourly rates are: David Goldwasser $800 Senior Managing Director $600 CFO/CPA $500 Managing Director $450 Paralegal $330 A per diem travel fee of $2,500, plus travel expenses, shall apply in lieu of hourly rates for travel time. FIA is a "disinterested person" as that term is defined in section 101(14) of the Bankruptcy Code, according to court filings. The firm can be reached through: Mark Taub David Goldwasser FIA Capital Partners, LLC 3284 N 29th Ct Hollywood, FL 33021 Telephone: (561) 400-3640 Email: DGoldwasser@fiacp.com YTaub@fiacp.com About 137 Falmouth Street 137 Falmouth Street LLC is a real estate lessor that owns a single-family residence at 137 Falmouth Street in Brooklyn, New York, listed as Block 8749 Lot 311. The property is currently valued at $1.3 million. 137 Falmouth Street sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.Y. Case No. 25-43810) on Aug. 6, 2025. In its petition, the Debtor reported total assets of $1,300,016 and total liabilities of $1,281,790. Bankruptcy Judge Nancy Hershey Lord handles the case. The Debtor is represented by Charles Wertman, Esq. at LAW OFFICES OF CHARLES WERTMAN P.C. 1400 PRAIRIE: Case Summary & Two Unsecured Creditors ---------------------------------------------------- Debtor: 1400 Prairie Creek Drive LLC 200 SE 6th Ste 108 Bentonville, AR 72712 Business Description: 1400 Prairie Creek Drive LLC is a privately held company that owns and leases real property. Chapter 11 Petition Date: July 20, 2026 Court: United States Bankruptcy Court Western District of Arkansas Case No.: 26-71408 Judge: Hon. Bianca M. Rucker Debtor's Counsel: Stanley V. Bond, Esq. BOND LAW OFFICE 525 S. School Ave., Suite 100 Fayetteville, AR 72701 Tel: 479-444-0255 Fax: 479-235-2827 E-mail: attybond@me.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by R. Garrett Ham, Jr. as manager. 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/ZO6U4EA/1400_Prairie_Creek_Drive_LLC__arwbke-26-71408__0001.0.pdf?mcid=tGE4TAMA 2003 MORRIS: Taps Greenbaum Rowe Smith & Davis as Legal Counsel --------------------------------------------------------------- 2003 Morris LLC seeks approval from the U.S. Bankruptcy Court for the District of New Jersey to hire Greenbaum Rowe Smith & Davis LLP to serve as legal counsel in its Chapter 11. The firm's proposed hourly rates are: Nancy Isaacson, Esq., partner $640 Associates $360 to $465 Paralegals $250 to $275 Greenbaum Rowe Smith & Davis LLP is a "disinterested person" under 11 U.S.C. Sec. 101(14), according to court filings. The firm can be reached at: Nancy Isaacson, Esq. GREENBAUM ROWE SMITH & DAVIS LLP 75 Livingston Ave, Suite 301 Roseland, NJ 07068-3701 Telephone: (973) 535-1600 E-mail: nisaacson@greenbaumlaw.com About 2003 Morris LLC 2003 Morris LLC owns and develops a mixed-use property in Union, New Jersey, featuring residential units, private and coworking offices, retail space and an event center. 2003 Morris LLC filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. D.N.J. Case No. 26-18135) on July 16, 2026, listing $10 million to $50 million in both assets and liabilities. The petition was signed by Nicholas Wong as managing member. Judge John K. Sherwood presides over the case. Nancy Isaacson, Esq. at GREENBAUM, ROWE SMITH & DAVIS LLP serves as the Debtor's counsel. 2159 57 STREET: Claims to be Paid from Property Sale Proceeds ------------------------------------------------------------- 2159 57 Street Unit 1A LLC filed with the U.S. Bankruptcy Court for the Eastern District of New York a Disclosure Statement with respect to Plan of Liquidation dated July 21, 2026. The Debtor is a New York limited liability company formed to own and manage a single asset: Unit 1A at The Shalom Condominiums in Brooklyn, New York. Alexander Ashkenazi is the principal, and Alan Lederfeind is the manager. The Debtor does not operate an active business or generate revenue. Although the property is occupied by a residential tenant, the tenant is in arrears on rent, resulting in no rental income for the Debtor. The property was originally purchased by Alexander Ashkenazi in 2002 for $399,000 and transferred to the Debtor in 2023. It is insured under a homeowners policy effective from December 19, 2025, through December 19, 2026. The property is subject to a mortgage originally issued in 2002 with an original principal balance of $300,700. According to a payoff statement dated June 11, 2026, the lender claimed a total payoff amount of $561,979.88, consisting of: $248,822.48 in principal; $191,037.59 in accrued interest; $93,968.79 in escrow overdrafts for taxes and insurance; and $28,151.02 in other charges. The Debtor fell behind on mortgage payments, in part because the tenant failed to pay rent. The lender initiated a foreclosure action, prompting the Debtor to file for Chapter 11 on November 16, 2023, to halt the foreclosure and preserve the property's equity for creditors through an orderly sale process. After earlier sale attempts were unsuccessful, the Debtor entered into a Contract of Sale on February 11, 2026, with 57 Owner LLC to sell the property for at least $610,000. The purchase price may increase if the mortgage payoff exceeds an assumed amount so that the Debtor receives the same net proceeds, although the purchaser may cancel if the price increases by $25,000 or more above $610,000. The purchaser deposited $50,000 in escrow, all financing and due diligence contingencies have expired, and the property will be sold subject to the existing tenant, with the purchaser assuming responsibility for any eviction proceedings. The Debtor states that the tenant's occupancy and rent arrears were significant factors in determining the sale price. The proposed liquidating Chapter 11 plan centers on completing the sale of the property free and clear of liens, claims, encumbrances, and interests, with liens attaching to the sale proceeds according to their existing priority. The closing is required to occur as soon as practicable after the plan becomes effective and no later than 21 days afterward. The Debtor states that completing the sale through the confirmed plan will exempt the transfer from New York real estate transfer taxes under the Bankruptcy Code, producing an estimated savings of approximately $11,132.50 that will be available for distribution to creditors. Under the plan: Class 5 (General Unsecured Claims): * Any allowed claim will be paid in full in cash, with post petition interest at the federal judgment rate. * If no claims are allowed, the class will be eliminated. * The class is unimpaired and deemed to accept the plan. The plan will be funded entirely from the sale proceeds, which will be distributed in the following order: * Closing costs, title charges, and closing adjustments. * Real property tax and municipal liens, if any. * The lender's allowed secured claim. * The allowed $3,500 common charges claim. * A reserve for administrative claims, professional fees, U.S. Trustee fees, priority tax claims, and Class 4 claims. * Allowed Class 5 general unsecured claims. * Any remaining balance to holders of Class 6 equity interests. Any sale proceeds not distributed at closing will remain in the attorney escrow account of the Debtor's counsel. Charles Wertman, Esq., the Debtor's counsel, will serve as the Case Administrator, overseeing distribution of sale proceeds, claims administration, and the wind-down of the case without separate compensation in that role. His firm's legal fees remain subject to Bankruptcy Court approval. A full-text copy of the Disclosure Statement dated July 21, 2026 is available at https://urlcurt.com/u?l=hWxYgA from PacerMonitor.com at no charge. Counsel to the Debtor: Charles Wertman, Esq. LAW OFFICES OF CHARLES WERTMAN P.C. 100 Merrick Road, Suite 304W Rockville Centre, NY 11570 Tel: (516) 284-0900 Email: charles@cwertmanlaw.com About 2159 57 Street Unit 1A LLC 2159 57 Street Unit 1A LLC is a single asset real estate entity with the condominium unit known as Unit 1A at 2159 57th Street, Brooklyn, New York 11204 (the "Property") as its sole asset. The sought protection for relief under Chapter 11 of the Bankruptcy Code (Bankr. E.D.N.Y. Case No. 23-44194) on Nov. 16, 2023, listing $500,001 to $1 million on both assets and liabilities. Charles Wertman, Esq. of THE LAW OFFICES OF CHARLES WERTMAN represents the Debtor as counsel. 5218 PROPERTY: Hires Gorski & Knowlton PC as Bankruptcy Counsel --------------------------------------------------------------- 5218 Property LLC seeks approval from the U.S. Bankruptcy Court for the District of New Jersey to hire Gorski & Knowlton PC to handle its Chapter 11 proceedings. The firm charges $400 per hour for its services. The firm received a retainer in the amount of $25,000, plus $1,738 filing fee. Allen I. Gorski, Esq., an attorney at Gorski & Knowlton, disclosed in a court filing that her firm is a "disinterested person" as that term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Allen I. Gorski, Esq. GORSKI & KNOWLTON PC 311 Whitehorse Avenue; Suite A Hamilton, NJ 08610 Tel: (609) 964-4000 Email: agorski@gorskiknowlton.com About 5218 Property LLC 5218 Property LLC is a Mays Landing, New Jersey-based single-asset real estate company that owns and leases nonresidential commercial property. Its principal asset is a 90,000-square-foot Class A office building in Hamilton Township, New Jersey, which has been leased in part to the General Services Administration (GSA). 5218 Property LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.N.J. Case No. 26-17177) on June 22, 2026. In its petition, the Debtor reports estimated assets of $0 to $50,000 and estimated liabilities between $1 million and $10 million. The Debtor is represented by David H. Stein, Esq. of Wilentz, Goldman & Spitzer, P.A. 75 SECOND AVENUE: Hires Julio E. Portilla PC as Bankruptcy Counsel ------------------------------------------------------------------ 75 Second Avenue LLC seeks approval from the U.S. Bankruptcy Court for the Southern District of New York to hire the Law Office of Julio E. Portilla, P.C. as its general bankruptcy counsel. The firm will provide these services: (a) provide legal advice regarding the Debtor's powers and duties under the Bankruptcy Code for the ongoing operation of its business and the management of its property; (b) negotiate, draft, and pursue all documentation necessary for the Chapter 11 case, including Debtor-in-possession financing arrangements and the disposition of assets; (c) prepare applications, motions, answers, orders, reports, and other legal documents necessary for the administration of the estate; (d) negotiate with creditors, prepare a reorganization plan, and take the necessary legal steps to implement that plan, including negotiations related to plan financing; (e) appear in court and safeguard the interests of the company before the court; (f) attend meetings and negotiate with representatives of creditors, the United States Trustee, and other interested parties; (g) provide legal advice on bankruptcy law, corporate law, corporate governance, tax, litigation, and other matters related to the company's business operations; (h) take all necessary actions to protect and preserve the estate, including prosecuting actions, defending against actions commenced against the company, representing the company in litigation negotiations, and handling objections to claims; and (i) perform other legal services and provide necessary legal advice required in the Chapter 11 case or otherwise requested by the company and reasonably acceptable to the firm. The firm will charge these rates: Attorneys $475 to $575 per hour Paralegals $125 per hour JEP Law received an advance payment retainer in the amount of $10,000, of which $1,738 was applied to satisfy the filing fee for this Chapter 11 case. The Law Office of Julio E. Portilla, P.C. is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code, according to court filings. The firm can be reached at: Julio E. Portilla, Esq. LAW OFFICE OF JULIO E. PORTILLA, P.C. 380 Lexington Avenue, Suite 446 New York, NY 10168 Telephone: (212) 365-0292 Facsimile: (212) 365-4417 E-mail: jp@julioportillalaw.com About 75 Second Avenue LLC 75 Second Avenue LLC is a single-asset real estate company under the definition provided in 11 U.S.C. Section 101(51B). 75 Second Avenue LLC filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. S.D.N.Y. Case No. 26-10726) on April 1, 2026, listing up to $50,000 in assets and $1,000,001 to $10 million in liabilities. The petition was signed by Sassan Sassouni as authorized representative of the Debtor. Judge Michael E Wiles presides over the case. Julio E. Portilla, Esq. at Law Office Julio E. Portilla, P.C. serves as the Debtor's counsel. A&A TAXI: Hires Law Offices of Alla Kachan P.C. as Counsel ---------------------------------------------------------- A&A Taxi Inc. seeks approval from the U.S. Bankruptcy Court for the District of New Jersey to employ Law Offices Of Alla Kachan P.C. as counsel. The firm will provide these services: a. assist Debtor in administering this case; b. making such motions or taking such action as may be appropriate or necessary under the Bankruptcy Code; c. represent Debtor in prosecuting adversary proceedings to collect assets of the estate and such other actions as Debtor deem appropriate; d. take such steps as may be necessary for Debtor to marshal and protect the estate's assets; e. negotiate with Debtor's creditors in formulating a plan of reorganization for Debtor in this case; f. draft and prosecute the confirmation of Debtor's plan of reorganization for Debtor in this case; g. render such additional services as Debtor may require in this case. The firm will be paid at these hourly rates: Attorney $550 Clerk's and paraprofessional $250 The firm will be paid a retainer in the amount of $13,000. In addition, the firm will seek reimbursement for its out-of-pocket expenses. Alla Kachan, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Alla Kachan, Esq. Law Offices of Alla Kachan, P.C. 2799 Coney Island Avenue, Suite 202 Brooklyn, NY 11235 Tel: (718) 513-3145 Email: alla@kachanlaw.com About A&A Taxi Inc A&A Taxi Inc. filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. D.N.J. Case No. 26-15778) on May 21, 2026, listing $100,001 to $500,000 in assets and $1,000,001 to $10 million in liabilities. Judge John K Sherwood oversees the case. Alla Kachan, Esq. at Law Offices Of Alla Kachan P.C. represents the Debtor as counsel. A&C AUTOWORKS: Gets Final OK to Use Cash Collateral --------------------------------------------------- The U.S. Bankruptcy Court for the District of Colorado entered a final order authorizing A&C Autoworks, Inc. to use cash collateral through December 31. The Debtor's use of cash collateral is governed by an approved budget, with up to a 10% variance per line item per week and includes adequate protection payments identified in the budget. Creditors including the U.S. Small Business Administration, VelocitySBA LLC, the Colorado Department of Revenue, the City of Thornton, United Capital Experts LLC, and Westwood Funding Solutions, LLC may assert interest in the cash collateral. As adequate protection, these creditors will receive automatically perfected replacement liens on the Debtor's post-petition cash collateral and related proceeds to the extent of any diminution in value, while the Colorado Department of Revenue will receive a replacement lien consistent with its statutory rights. The Debtor must comply with several conditions during the cash collateral period, including operating within the approved budget, avoiding asset sales outside the ordinary course of business, maintaining insurance, timely collecting and remitting post-petition sales taxes, and providing biweekly budget-to-actual reports to VelocitySBA LLC and any requesting cash collateral creditor. The order also prohibits any surcharge against the collateral under 11 U.S.C. section 506(c) without the creditors' consent. The Debtor's authority to use cash collateral terminates upon an event of default, including failure to comply with the order, conversion or dismissal of the Chapter 11 case, cessation of business operations, or relief from the automatic stay affecting material assets. The order is available at http://bankrupt.com/misc/ACAutoworks_ICCOrder65.pdf About A&C Autoworks Inc. A&C Autoworks Inc. is a family-owned and operated auto repair shop based in Thornton, Colorado. The company provides vehicle repair and maintenance services including oil changes, alignments, tune-ups, diagnostics, brake service, engine and transmission repair, suspension and steering service, A/C system service, tire service, and fleet maintenance. It services domestic and foreign vehicles, including cars, trucks, SUVs, commercial and light-duty truck fleets, and has a Subaru specialist on staff. The Debtor sought protection under Chapter 11 of the U.S. Bankr. D. Colo. Case No. 26-14422) on June 18, 2026. In the petition signed by Malcom Garrison, president and director, the Debtor disclosed $1,290,614 in assets and $2,358,144 in liabilities. Judge Michael E. Romero oversees the case. Andrew Johnson, Esq., at Onsager, Fletcher Johnson, Palmer, LLC, represents the Debtor as legal counsel. A1A MOVING: Plan Confirmation Hearing Scheduled for Aug. 24 ----------------------------------------------------------- The U.S. Bankruptcy Court for the Northern District of Texas will hold a hearing on August 24, 2026 at 2:30 p.m. before the Honorable Scott W. Everett to confirm the Plan of Reorganization of A1A Moving & Relocation Services, Inc. August 17, 2026, is fixed as the last day for filing and serving pursuant to Rule 3020(b)(1) written acceptances or rejections of the Plan in the form of a ballot. August 17, 2026, is fixed as the last day for filing and serving pursuant to Fed. R. Bankr. P. 3020(b)(1) written objections to confirmation of the Plan. August 17, 2026, is fixed as the last day to file Section 1111(b) elections of the Bankruptcy Code. As shared by the Troubled Company Reporter, the Debtor is a Texas corporation in the business of providing moving and relocation services from its address at 4802 N. Interstate Hwy 45, Ennis, TX 75119. Class 5 consists of Allowed Unsecured Claims. These Claims, if Allowed, shall share Pro Rata in a $60,000.00 pool of funds to be contributed by the Debtor over a period of 60 months. The Debtor will fund $1,000 per month, starting on the Effective Date, from which each Class 5 Claimant shall receive a Pro Rata share each month for 60 months. Class 5 Claims will be fully satisfied by these monthly payments. These Claims are Impaired, and the holders of these Claims are entitled to vote to accept or reject the Plan. Class 6 consists of Equity Interests. Equity Interests shall be retained by the owners of said Interests, but there shall be no dividends or other distributions of value made to Equity Interests until Classes 1 to 5 Claims have been satisfied in full according to this Plan. The Debtor will fund the payments under the Plan from the net profits generated by its business. The Debtor believes the Plan is feasible because all creditors with Allowed Claims will be paid under fair and equitable terms. A full-text copy of the Plan of Reorganization dated May 4, 2026 is available at https://urlcurt.com/u?l=47HWSp from PacerMonitor.com at no charge. Counsel to the Debtor: Joyce W. Lindauer, Esq. Paul B. Geilich, Esq. Joyce W. Lindauer Attorney, PLLC 117 S. Dallas St. Ennis, TX 75119 Telephone: (972) 503-4033 A copy of the Court's Order dated July 20, 2026, is available at https://urlcurt.com/u?l=CeGphD from PacerMonitor.com. About A1A Moving & Relocating Services A1A Moving & Relocating Services, Inc., sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Texas Case No. 26-30534) on Feb. 3, 2026, with up to $50,000 in assets and $500,001 to $1 million in liabilities. Judge Scott W. Everett presides over the case. Joyce W. Lindauer, at Joyce W. Lindauer Attorney, PLLC, is the Debtor's bankruptcy counsel. AC EVOLUTION: Seeks to Hire John Desmond as Bankruptcy Counsel -------------------------------------------------------------- AC Evolution LLC seeks approval from the U.S. Bankruptcy Court for the District of Massachusetts to hire John Desmond, Esq., an attorney practicing in Framingham, Massachusetts, to handle its Chapter 11 case. Mr. Desmond will be paid at his hourly rate of $450 plus reimbursement for out-of-pocket expenses incurred. The attorney received a pre-petition retainer of $11,800 from the Debtor. Mr. Desmond disclosed in a court filing that he is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The attorney can be reached at: John O. Desmond, Esq. 5 Edgell Road, Suite 30A Framingham, MA 01701 Telephone: (508) 879-9638 Email: attorney@jdesmond.com About AC Evolution LLC AC Evolution LLC is a Marshfield, Massachusetts-based lessor of residential real estate. Court records identify the company as a single asset real estate business whose operations are focused on managing residential property holdings. The company's real estate assets have been involved in ongoing litigation and a preliminary injunction related to asset recovery efforts involving the U.S. government and Gulf Coast Bank and Trust Company. AC Evolution LLC sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-11742) on July 22, 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 Janet E. Bostwick is overseeing the bankruptcy case. The Debtor is represented by John O. Desmond, Esq. AC EVOLUTION: Voluntary Chapter 11 Case Summary ----------------------------------------------- Debtor: AC Evolution LLC 16 James Way Marshfield, MA 02050 Business Description: AC Evolution LLC is a real estate company that owns and leases a residential property at 10 Uncle Stephens Road in West Dennis, Massachusetts. Chapter 11 Petition Date: July 22, 2026 Court: United States Bankruptcy Court District of Massachusetts Case No.: 26-11742 Judge: Hon. Janet E. Bostwick Debtor's Counsel: John O. Desmond, Esq. 5 Edgell Road, Suite 30A Framingham, MA 01701 Tel: 508-879-9638 E-mail: attorney@jdesmond.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Adam S. Bowser as president. 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/6ZUF24Y/AC_Evolution_LLC__mabke-26-11742__0001.0.pdf?mcid=tGE4TAMA ADDISON DENTAL: Court Extends Cash Collateral Access to Sept. 15 ---------------------------------------------------------------- Addison Dental Associates, PC received another extension from the U.S. Bankruptcy Court for the Northern District of Georgia, Atlanta Division, to use cash collateral. Under the interim order, the Debtor is authorized to use cash collateral based on the approved budget through September 15, unless terminated earlier under the terms of the order. The Debtor may exceed budgeted amounts by up to 10% per category, except for owner compensation and professional fees. The Debtor is prohibited from using cash collateral to pay pre-petition debts or professional fees incurred in the bankruptcy case. The court acknowledged that CAN Capital Asset Servicing, Inc., as assignee of WebBank, and Quantum LS, LLC (formerly Fundation Group, LLC) may hold security interests in the Debtor's cash collateral and other assets. However, the court made no determination regarding the validity, extent, or priority of any alleged liens or security interests. All parties retain the right to challenge those issues, seek additional adequate protection, request relief from the automatic stay, move to dismiss or convert the Chapter 11 case, or seek appointment of a trustee or examiner. Likewise, the Debtor reserves its right to contest the lenders' asserted liens. The Debtor is required under the interim order to maintain insurance covering the lenders' collateral, keep the lenders named as loss payees, and provide evidence of insurance upon request. Events of default include failure to comply with the budget, perform obligations under the order, make any required adequate protection payments, and maintain proper insurance. Upon the occurrence of any default, the Debtor's authority to use cash collateral automatically terminates, and the lenders may seek expedited relief from the automatic stay. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/27QQ4 from PacerMonitor.com. The court scheduled a final hearing for September 16. About Addison Dental Associates, P.C. Addison Dental Associates, P.C. is a Smyrna, Georgia-based dental practice specializing in general dental and oral healthcare services. According to the bankruptcy filing, the practice continues to operate as a debtor-in-possession while maintaining its clinical facility in Atlanta during its financial restructuring. Addison Dental Associates, P.C. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-57885) on June 16, 2026. In its petition, the Debtor reported estimated assets of $1 million to $10 million and estimated liabilities of $1 million to $10 million. The Debtor is represented by Sims W. Gordon, Jr., Esq., of The Gordon Law Firm P.C. John T. Whaley is appointed as Subchapter V Trustee. ADVANCE CHIMNEY: Unsecureds Will Get 100% of Claims over 10 Years ----------------------------------------------------------------- Advance Chimney Sweeps, Inc., filed with the U.S. Bankruptcy Court for the Western District of Pennsylvania a Disclosure Statement to accompany Chapter 11 Plan dated July 21, 2026. The Debtor is a chimney service company that has served the greater Pittsburgh area and surrounding counties in Pennsylvania and West Virginia since 1996. The company's mission is to preserve life by reducing fire and carbon monoxide hazards while improving customers' quality of life and peace of mind. The Chapter 11 filing resulted from several factors, including: * An economic downturn caused by the COVID-19 crisis, * Overextension of credit to expand its workforce, and * Costs associated with employee training and equipment. The Debtor states that it has since positioned itself as a leader in its field and that its business has rebounded. The reorganization plan will be funded through future business income, and the Debtor has filed monthly operating reports showing its business profit and loss. The Debtor states that it has since positioned itself as a leader in its field and that its business has rebounded. The reorganization plan will be funded through future business income, and the Debtor has filed monthly operating reports showing its business profit and loss. Under the plan: * Class IV (Unsecured Claims) is impaired. * Timely filed and allowed unsecured creditors will receive 100% of their allowed claims. * Filed unsecured claims include: -- American Express National Bank: $22,274.44 -- Cellco Partnership dba Verizon Wireless: $3,507.23 -- USI Insurance Services, LLC: $9,998.21 -- ODK Capital LLC: $104,656.27 * The total unsecured claims equal $140,436.15. These unsecured claims will be paid pro rata over a period of ten years, with annual payments due on or before December 15 each year. Payments will begin during the calendar year following confirmation of the plan. The Debtor may shorten the repayment period if its financial condition improves significantly. The Debtor has also filed monthly operating reports demonstrating its budget and has begun making payments to secured vehicle and machinery creditors in accordance with the plan. A full-text copy of the Disclosure Statement dated July 21, 2026 is available at https://urlcurt.com/u?l=rXFHhK from PacerMonitor.com at no charge. Counsel to the Debtor: SANTILLAN LAW, P.C. Edgardo D. Santillan, Esquire PA ID No. 60030 908 22nd Street Aliquippa, PA 15001 Telephone: (724) 770-1040 Facsimile: (412) 774-2266 E-mail: ed@santillanlaw.com About Advance Chimney Sweeps, Inc. Advance Chimney Sweeps, Inc. is a Pennsylvania-based company providing chimney cleaning, inspection, and maintenance services for residential and commercial properties. Advance Chimney Sweeps, Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Pa. Case No. 26-20707) on March 13, 2026. In its petition, the debtor reports estimated assets of $0-$100,000 and estimated liabilities of $100,001-$1,000,000. The Honorable Bankruptcy Judge handles the case. The debtor is represented by Edgardo D. Santillan, Esq. of Santillan Law, P.C. AIDA CAB: Hires Law Offices of Alla Kachan P.C. as Counsel ---------------------------------------------------------- Aida Cab Corp. seeks approval from the U.S. Bankruptcy Court for the District of New Jersey to hire Law Offices Of Alla Kachan P.C. as attorney. The firm will provide these services: a. assist Debtor in administering this case; b. make motions or take action as may be appropriate or necessary under the Bankruptcy Code; c. represent Debtor in prosecuting adversary proceedings to collect assets of the estate and such other actions as Debtor deem appropriate; d. take such steps as may be necessary for Debtor to marshal and protect the estate's assets; e. negotiate with Debtor's creditors in formulating a plan of reorganization for Debtor in this case; f. draft and prosecute the confirmation of Debtor's plan of reorganization for Debtor in this case; g. render such additional services as Debtor may require in this case. The firm will be paid at these rates: Attorney $550 per hour Clerk's and paraprofessional $250 per hour The firm will be paid a retainer in the amount of $13,000. In addition, the firm will seek reimbursement for its out-of-pocket expenses. Alla Kachan, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Alla Kachan, Esq. Law Offices of Alla Kachan, P.C. 2799 Coney Island Avenue, Suite 202 Brooklyn, NY 11235 Tel: (718) 513-3145 Email: alla@kachanlaw.com About Aida Cab Corp Aida Cab Corp. filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. D.N.J. Case No. 26-15777) on May 21, 2026, listing $100,001 to $500,000 in assets and $500,001 to $1 million in liabilities. Judge John K Sherwood presides over the case. Alla Kachan, Esq. at Law Offices Of Alla Kachan P.C. serves as the Debtor's counsel. ALL AMERICAN: Seeks Subchapter V Bankruptcy in New Jersey --------------------------------------------------------- On July 23, 2026, All American Auto Repairs filed for Chapter 11 protection in the U.S. Bankruptcy Court for the District of New Jersey. According to court filings, the debtor reports between $100,000 and $500,000 in liabilities owed to 1-49 creditors. The petition lists estimated assets of $100,000 to $500,000 and estimated liabilities of $100,000 to $500,000. Meeting of Creditors with 341(a) meeting to be held on 9/2/2026 at 11:00 AM via Zoomgov-Gerardi: join.zoom.us Meeting ID 165 681 41609, Passcode 7621781933, or call 1-551-285-1373. Court sets October 21, 2026 deadline for Chapter 11 Subchapter V Plan and May 19, 2027 deadline for Chapter 11 Small Business Plan. About All American Auto Repairs All American Auto Repairs is a Newark, New Jersey-based automotive repair and maintenance company. The business provides general vehicle repairs, wheel alignments, body work, diagnostics, and related automotive services for individual and commercial customers. All American Auto Repairs sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.N.J. Case No. 26-18353) on July 23, 2026. In its petition, the debtor reported estimated assets of $100,000 to $500,000 and estimated liabilities of $100,000 to $500,000. The Honorable Michael B. Kaplan handles the case. The debtor is represented by David A. Kasen of Kasen & Kasen. ALLIUM BUYER: S&P Assigned 'B' ICR, Outlook Positive ---------------------------------------------------- S&P Global Ratings assigned its 'B' issuer credit rating to Engineering and supply-chain intelligence provider Allium Buyer LLC (Accuris). S&P also assigned its 'B' issue-level and '3' recovery ratings (reflecting a rounded estimate of 65% recovery) to its proposed $700 million first-lien term loan due 2033. The positive outlook reflects S&P's expectation that Accuris' steady organic earnings growth will keep credit metrics strong over the next 12 months, with S&P Global Ratings-adjusted leverage below 6x and FOCF/debt approaching 10%. While current credit metrics might otherwise support an upgrade, the company has limited history as a stand-alone entity, and its financial policy is somewhat uncertain. Higher ratings would depend on the company continuing its good operational execution and demonstrating a financial policy that supports sustaining these credit metrics beyond the next 12 months. Accuris plans to issue a new seven-year $700 million first-lien term loan and a new five-year $95 million revolving credit facility to refinance existing debt and fund a dividend to its financial sponsor, Kohlberg Kravis Roberts & Co. L.P. (KKR). S&P said, "When the transaction closes, we expect the company's S&P Global Ratings-adjusted leverage will be 5.4x, with free operating cash flow (FOCF) to debt in the high-single-digit percentages. Absent any further leveraging transactions, we expect earnings growth to allow the company to deleverage toward the low-5x area by 2027." Accuris has adominant market presence within its niche offering. The company partners with more than 1,000 standard development organizations (SDOs) and content publishers to provide access for about 900,000 users across 90 countries. SDOs are responsible for creating and maintaining standards, which are documented requirements, specifications, guidelines, and processes to ensure that products are safe, consistent, and fit for purpose. Engineers rely on these standards to carry out their jobs and ensure legal and regulatory compliance. S&P said, "We consider this access to be mission-critical because the penalties for re-work or noncompliance can be much higher than the cost of Accuris' platform. This gives the company a highly recurring subscription-based revenue stream and a sticky customer base, particularly among its larger, more sophisticated clients that need regular access to many different standards. We also suspect the company has some pricing power among these clients and expect it should be able to increase prices by mid-single-digit percentages annually." The company's engineering intelligence (EI) segment has only a few smaller competitors, and Accuris is the clear market leader. It has exclusive relationships with some major SDOs which give it an edge over competitors. However, most SDO relationships aren't exclusive. For most standards, which are not exclusive, engineers could purchase and download content directly from the SDO's website or from other aggregators. In S&P's view, the primary benefit Accuris offers is the network effect of such a large collection of standards in one place, which improves efficiency. Differentiation also comes from workflow tools that allow engineers to easily find content, track changes in standards, and use AI-powered research tools. The company's business model is dependent on content from third-party SDOs. More than 80% of Accuris' revenue is derived from EI, primarily through the Engineering Workbench platform and associated subscriptions to SDO data. Subscribers pay Accuris annual content and technology fees, and Accuris then pays a portion of the content fees as royalties to the SDOs. Over 70% of content royalties are paid via fixed fees based on the number of users and locations, which creates a predictable gross margin profile. Accuris' EBITDA margins are relatively low for a software/information services company, largely due to royalty payments affecting the cost of goods sold and ongoing product investments. However, S&P forecasts margins will grow by approximately 200 basis points (bps) over the next two years as one-time carve-out and integration-related costs roll off, as well as due to operating leverage. S&P said, "We believe the company is recession resilient, but its growth trajectory is partially reliant on the health of its major verticals. While there is no meaningful customer concentration, approximately 40% of the business' revenue is generated from the aerospace and defense and oil and gas industries. Weakness in these end markets could hurt financial results. For instance, recent volatility in oil markets has weighed on net retention this year due to energy sector customers pulling back on spending. The business tends to perform well through various downturns because customers view standards as vital to operations, and they are a small fraction of total R&D spending. While we don't view the business as entirely non-cyclical, we do think its mission-critical offering enables it to withstand periods of higher unemployment and slower GDP growth." Accuris' supply chain intelligence (SCI) solution is small but has meaningful room for growth. The company provides data and intelligence that helps users manage and analyze complex supply chains, assisting customers in managing tariff uncertainty and compliance related risks with its index of more than 1 billion parts. This segment is highly profitable, contributing about 8% of revenue. S&P believes there is significant opportunity to cross-sell the SCI solution to EI customers because many firms that require engineering standards also manage complex supply chains. However, only about 5% of current customers subscribe to both. Cross-selling could be difficult and time consuming because it requires effectively marketing to different departments, and the company is still in the early stages of refining its strategy. SDO insourcing is a low-probability risk that would carry significant financial consequences. The American Society for Testing and Materials (ASTM) recently ended its relationship with Accuris. While S&P believes this is atypical, the financial impact is material. SDO concentration--particularly across larger SDOs--remains a key risk because the company's top SDOs account for a meaningful portion of revenue. That said, the network effect that Accuris provides partially mitigates this risk. Most SDOs are non-profits and lack the resources, sales, and marketing support that Accuris provides. The broader reach, ease of use, and bundling benefits incentivize SDOs to continue partnering with Accuris. S&P said, "AI presents opportunities and risks. In the EI segment, we view AI as an opportunity that should benefit the company. As the company continues embedding AI into its workflow tools (with SDO permission), its platform should become stickier and more valuable to customers. While this segment lacks proprietary data, potential new AI-native competition would have trouble replicating the SDO relationships that Accuris has amassed over decades. Similarly, the scope of the EI segment is niche and non-core for larger, better-capitalized tech companies that could otherwise create similar offerings. Because workflow tools are only as valuable as the depth of content available on a platform, we believe this positions Accuris well to continue developing and deploying AI workflow tools that keep it ahead of new entrants. "In the SCI segment, the data collected is publicly available and currently a largely manual process. We believe Accuris can use AI to make this process more efficient, but it will need to be deliberate in its rollout. If it automates too quickly, we believe it could sacrifice the accuracy of the data and ultimately the quality of the product. That said, this also serves as a barrier to entry for competition. Although AI can access publicly available data, the process requires significant manual oversight and domain expertise. In addition, the datasets aggregated by Accuris cannot be easily replicated due to the variety of sources, formats, and--especially--the history. Accuris has been collecting this data for decades, and much of the historical data may not be publicly available any longer. As AI tools become more reliable, we believe that a competitive solution could become proficient enough to yield similar datasets, but Accuris's years-long head start mitigates much of this risk." Leverage and cash-flow metrics will remain strong, even after the debt-funded dividend, which supports the 'B' rating. S&P said, "We forecast the company's S&P Global Ratings-adjusted leverage will remain in the mid-5x area in 2026, declining to the low-5x area in 2027. We expect free operating cash flow to debt to remain solid at 8%-13% in each of the next few years." The company benefits from an asset-lite business model with a structural working-capital tailwind in its core EI segment: It receives annual subscription fees in advance but pays usage-based royalties after each quarter end. Because of this, as the company continues to grow, this should yield a consistent but modest annual cash-flow benefit. An uncertain financial policy currently prevents a higher rating. The company has a limited track record operating as a stand-alone company since the 2023 carve-out from S&P Global Inc. Pro forma leverage was 5.4x as of second-quarter 2026, including the leveraging dividend. S&P said, "We believe the company and sponsor are comfortable with these leverage levels and could be willing to increase leverage. We do not expect any leveraging M&A in the near term given the lack of large acquisition opportunities." That said, financial sponsor ownership typically points to corporate decision making that prioritizes shareholder returns rather than deleveraging and remains a key credit risk. Any rating upside is contingent on our belief that the sponsor is committed to maintaining credit metrics at levels commensurate with a higher rating. S&P said, "The positive outlook reflects our expectation that Accuris' steady organic earnings growth will keep credit metrics strong over the next 12 months, with S&P Global Ratings-adjusted leverage below 6x and FOCF/debt approaching 10%." While current credit metrics might otherwise support an upgrade, the company has limited history as a stand-alone entity, and its financial policy is somewhat uncertain. S&P could lower its rating on Accuris if its S&P Global Ratings-adjusted leverage rises above 7x or its FOCF to debt declines below 5%. This could occur if: -- The company's sponsor engages in aggressive debt-funded acquisitions or dividends that increase its leverage; or -- Its client or SDO retention weakens due to increased competition or diminishing pricing power, such that its revenue and EBITDA decline. S&P could raise its rating on Accuris if it continues to increase its EBITDA and maintains a financial policy that will enable it to improve its S&P Global Ratings-adjusted leverage below 6x and sustain FOCF/debt approaching 10% or higher. Under this scenario S&P would expect: -- The company's financial sponsor refrains from undertaking any large leveraging acquisitions or shareholder returns; -- Accuris to continue expanding its recurring revenue base by upselling new products to its existing and new customers while maintaining a high customer retention rate; and -- The company's performance to remain resilient in the face of broad AI-related disruption risks. AMYNTA AGENCY: Moody's Ups CFR to B2 & Sr. Secured Term Loan to B1 ------------------------------------------------------------------ Moody's Ratings has upgraded Amynta Agency Borrower, Inc.'s (Amynta) corporate family rating to B2 from B3 and its probability of default rating to B2-PD from B3-PD based on the company's improving credit metrics. Moody's also upgraded Amynta's senior secured revolving credit facility and senior secured term loan rating to B1 from B2, and its senior unsecured notes rating to Caa1 from Caa2. The rating outlook for Amynta is stable. RATINGS RATIONALE The rating upgrade reflects Amynta's steady operating performance and stronger leverage and interest coverage metrics. Moody's expects the company will maintain debt-to-EBITDA at or below current levels. Amynta has been expanding its managing general agent business and maintains a good market presence in US and Canadian warranty products, particularly vehicle service contracts. The company has increased revenue both organically and through acquisitions over the past several years, while steadily improving EBITDA margins. Amynta continues to focus on controlling costs, streamlining systems, and enhancing data and analytics capabilities. The company provides a wide range of coverages and services to the insurance and warranty markets. Amynta's organic revenue growth was 9% in 2025, down from double digits in the prior year. Moody's expects the company's organic growth to continue to moderate in the year ahead. These strengths are offset by Amynta's significant debt burden and interest expense. Other credit challenges include the company's still significant, but declining, concentration of its insurance placements with AmTrust Financial Services, Inc. and potential liabilities from errors and omissions, a risk inherent in professional services. Additionally, Amynta's warranty business continues to face a challenging operating environment. This is partially offset, however, by stronger growth prospects in the group's MGA segment, which represents approximately 84% of the group's net revenues. Moody's expects that Amynta will maintain a pro forma debt-to-EBITDA ratio of 6.0x - 6.5x, (EBITDA – capex) interest coverage of 2.0x-2.5x, and a free-cash-flow-to-debt ratio in the mid-single digits (per Moody's calculations). These pro forma metrics reflect Moody's accounting adjustments for operating leases, contingent earnout obligations, run-rate EBITDA from acquisitions, and certain non-recurring and unusual items. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS Factors that could lead to an upgrade of Amynta's ratings include: (i) debt-to-EBITDA ratio below 5.5x, (ii) (EBITDA – capex) coverage of interest exceeding 2.5x, and (iii) free-cash-flow-to-debt ratio exceeding 6%, and (iv) continued profitable growth and diversification of carriers. Factors that could lead to a downgrade of Amynta's ratings include: (i) debt-to-EBITDA ratio above 6.5x, (ii) (EBITDA – capex) coverage of interest below 1.5x, or (iii) free-cash-flow-to-debt ratio below 3%. The principal methodology used in these ratings was Insurance Brokers and Service Companies published in February 2024. The net effect of any adjustments applied to rating factor scores or scorecard outputs under the primary methodology(ies), if any, was not material to the ratings addressed in this announcement. Based in New York City, Amynta is an insurance services company operating through two businesses including managing general agencies (MGA) and warranty protection. Amynta serves leading insurance carriers, wholesalers, retail agencies, auto dealers and other parties throughout the US and Canada. The company generated total GAAP revenue of approximately $1.4 billion during the 12 months through March 31, 2026. APPLE TREE: Placed Under New Management --------------------------------------- Steven Church of Bloomberg News reports that a Delaware bankruptcy judge has ordered that Apple Tree Partners, a $2.5 billion biotechnology venture capital fund tied to the family trust of Russian billionaire Dmitry Rybolovlev, be placed under new management as its Chapter 11 case proceeds. The ruling represents a major procedural win for Rybolovlev amid a contentious dispute with a former business associate. The court authorized two restructuring experts from Alvarez & Marsal to oversee the bankruptcy. Those professionals were appointed earlier this month by a court in the Cayman Islands, where separate insolvency proceedings involving Apple Tree are underway, creating unified oversight of the fund's restructuring efforts, the report relays. Judge Laurie Selber Silverstein concluded that independent management would provide greater confidence in the administration of the bankruptcy estate and help ensure that decisions are made for the benefit of creditors rather than competing ownership interests. The ruling harmonizes the U.S. and Cayman proceedings as the restructuring moves forward, according to Bloomberg. About Apple Tree Life Sciences Apple Tree Life Sciences, Inc., legally known as Apple Tree Life Sciences, Inc., is a life sciences venture capital firm that forms and invests in healthcare and biotechnology companies from early stage concepts through public market offerings. The firm provides flexible capital and works with venture partners and entrepreneurs-in-residence to develop research-driven enterprises in the therapeutics sector. Its activities span company creation at stages ranging from pre-intellectual-property ideas to asset spinouts. Apple Tree Life Sciences, Inc. and affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Lead Case No. 25-12177) on Dec. 9, 2025. In its petition, the Debtor reports estimated liabilities between $1 billion and $10 billion estimated liabilities between $100,000 and $500,000. Bankruptcy Judge Laurie Selber Silverstein handles the case. The Debtors' General Bankruptcy Co-Counsel is POTTER ANDERSON & CORROON LLP. The Debtors' General Bankruptcy Co-Counsel is QUINN EMANUEL URQUHART & SULLIVAN, LLP. The Debtors' Financial & Restructuring Advisor is B. RILEY. The Debtors' Cayman Law Counsel is WALKERS. ASHTON WOODS: S&P Alters Outlook to Negative, Affirms 'BB-' ICR --------------------------------------------------------------- S&P Global Ratings affirmed all its ratings on Ashton Woods USA LLC, including the 'BB-' issuer credit rating, and revised the outlook to negative from stable. The recovery rating on its senior unsecured notes remains '3', indicating S&P's expectation for meaningful recovery (50%-70%; rounded estimate 65%) in the event of a payment default. The negative outlook revision reflects deterioration in the company's credit metrics, contraction in its EBITDA base, and potential for continued margin compression. S&P Global Ratings forecasts that as Ashton Woods USA LLC navigates a contracting EBITDA base and difficult demand environment into its fiscal year ending May 31, 2027 (fiscal 2027), its EBITDA margins will face near-term pressure and potentially reach a cyclical low before stabilizing. This will result in leverage peaking in the mid-4.0x area. Macroeconomic challenges are weighing on the residential homebuilding sector, driving margin compression and heightened leverage in Ashton Woods' recent operating results. In fiscal 2026, total revenue grew by a slight 0.2% amid pricing pressures and shifting consumer demand. Home sales revenue increased 3.1%, driven by an 8.7% increase in the number of homes closed to 10,080 from 9,274 in the prior year. However, this volume growth was offset by a 5.1% decrease in the average sales price of homes closed, which fell to $355,000 from $374,000. S&P said, "Looking ahead, we project a significant acceleration in top-line performance, moving from recent modest increases toward much stronger revenue expansion of 5%-10% in 2027 and 15%-20% in 2028 amidst similar closing absorption rates. As such, the revenue expansion we expect is driven primarily through robust community growth and a strategic focus on growing its Ashton Woods style community weighted average vs its Starlight community model. The Ashton Woods community prioritizes a house model with more customization options and "move-up" projects that capture a less economically sensitive consumer and could to spur revenue gains through growth in average selling price, which could lead to an improvement in unit economics. "Profitability has faced substantial pressure, and we still expect a period of decline before margins gradually recover. A significant decline in S&P Global Ratings-adjusted EBITDA led S&P Global Ratings-adjusted EBITDA margins to contract to 7.7% in fiscal 2026 from 10.6% in fiscal 2025. Pricing adjustments and increased sales and financing incentives cut into gross profits, alongside higher land-related costs as a percentage of home sales revenue. While a modest reduction in sales, general, and administrative expenses provided some relief, it was insufficient to offset the broader gross margin decline. "We expect S&P Global Ratings-adjusted EBITDA margins to undergo a period of continued decline prior to stabilization, potentially reaching a cyclical low in the low-7% area before gradually expanding toward the high-7% area as the company transitions toward higher-margin products." Offsetting these declines in credit quality is Ashton Woods' ability to generate positive free cash flows, recent refinancing which bolstered its liquidity and weighted average maturity position. Back stopping liquidity is an undrawn revolving credit facility due 2029 and total liquidity of approximately $995.1 million as of the end of fiscal 2026, providing a necessary cushion as it navigates this shift. The credit profile will likely remain under pressure in the near term as leverage peaks ahead of projected deleveraging and revenue acceleration. The company's creditworthiness has weakened, as S&P Global Ratings-adjusted leverage increased to 4.4x in fiscal 2026 from 2.8x in fiscal 2025. Deterioration was fueled by a contracting EBITDA base and rising absolute debt levels, with S&P Global Ratings-adjusted debt rising to $1.24 billion from $1.05 billion. S&P said, "We do not project our adjusted debt levels to rise above our current levels, even quarter to quarter over the next 12 months. Albeit our current forecasts suggest leverage will remain elevated in fiscal 2027, potentially peaking at levels similar to the current year as EBITDA remains pressured. However, in fiscal 2028 and beyond, we anticipate a steady deleveraging trend, with debt to EBITDA moderating significantly toward 3.0x-4.0x in subsequent years as EBITDA margins stabilize and show signs of growth." Executing its strategic transition amid macroeconomic volatility will be key to restoring margin and credit stability. The homebuilding industry continues to face headwinds from affordability challenges and a volatile interest rate environment, which have necessitated the use of competitive financing incentives to maintain closing volumes. The company's decision to commit to continuing community count growth and incentives allowed it to remain competitive in active communities and price homes effectively in its established markets. Currently, of its top-12 established markets in the sunbelt it holds a top 5 position in Atlanta, Austin, Phoenix, Charles, Houston, and San Antionio. Additionally, it is a top 10 builder in Dallas, Raleigh, Myrtle Beach, and Orlando. With operations in Nashville, Tampa, and emerging markets in Denver, Jacksonville, Sarasota, Greensboro, and Tucson, the company can compete with other large publicly traded builders. Ultimately, Ashton Woods' ability to manage its land-lite balance sheet and successfully transition its product mix will be critical. If the company can use its community growth to drive higher closing volumes and achieve the projected expansion in average selling prices, S&P expects a meaningful improvement in its financial profile, characterized by declining leverage and recovering EBITDA margins, thereby strengthening its long-term credit outlook. S&P said, "The negative outlook reflects our forecast that Ashton Woods' debt to EBITDA will remain above 4x for the next six months as its debt to capital trends toward the 45% area amid a weak demand environment. "We could downgrade Ashton Woods in the next 12 months if we no longer believe its debt to EBITDA will improve below 4x. This could occur if we anticipate the company's EBITDA will deteriorate below $270 million without a foreseeable recovery or its S&P Global Ratings-adjusted debt balance increases above approximately $1.2 billion." S&P could revise its outlook on Ashton Woods to stable over the next 12 months if: -- It continues to enhance the scale of its homebuilding operations while growing its existing community counts as forecast; and -- The company's debt to EBITDA falls below 4x, enabling it to absorb potentially weaker earnings amid a cyclical downturn. AUTHENTIC FLAVOR: Seeks Subchapter V Bankruptcy in Florida ---------------------------------------------------------- On July 23, 2026, Authentic Flavor, LLC filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Southern District of Florida. According to court filings, the debtor reports between $100,000 and $500,000 in liabilities owed to 1-49 creditors. The petition lists estimated assets of $100,000 to $500,000 and estimated liabilities of $100,000 to $500,000. A meeting of creditors under Section 341(a)( to be held on August 28, 2026 at 10:30 AM by TELEPHONE. About Authentic Flavor, LLC Authentic Flavor, LLC is a Florida-based manufacturer of frozen specialty food products. The company specializes in producing frozen prepared foods, including Cuban-style specialty items, and serves wholesale, retail, and foodservice markets from its South Florida operations. Authentic Flavor, LLC sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 26-19725) on July 23, 2026. In its petition, the debtor reported estimated assets of $100,000 to $500,000 and estimated liabilities of $100,000 to $500,000. The Honorable Peter D. Russin handles the case. The debtor is represented by Nicholas B. Bangos. AVANTGARDE SENIOR: Hires Levene Neale Bender as Bankruptcy Counsel ------------------------------------------------------------------ AvantGarde Senior Living and Adelman Tarzana Investments, LLC seek approval from the U.S. Bankruptcy Court for the Central District of California to hire Levene, Neale, Bender, Yoo & Golubchik L.L.P. as their general bankruptcy counsel. The firm's services include: a. advising the Debtors with regard to the requirements of the Bankruptcy Court, Bankruptcy Code, Bankruptcy Rules and the Office of the United States Trustee as they pertain to the Debtors and interacting with and cooperating with any committee appointed in the Debtors' bankruptcy cases; b. advising the Debtors with regard to certain rights and remedies of their bankruptcy estates and the rights, claims and interests of creditors; c. representing the Debtors in any proceeding or hearing in the Bankruptcy Court involving their estates unless the Debtors are represented in such proceeding or hearing by other special counsel; d. conducting examinations of witnesses, claimants or adverse parties and representing the Debtors in any adversary proceeding except to the extent that any such adversary proceeding is in an area outside of LNBYG's expertise or which is beyond LNBYG's staffing capabilities; e. preparing and assisting the Debtors in the preparation of reports, applications, pleadings and orders including, but not limited to, applications to employ professionals, interim statements and operating reports, initial filing requirements, schedules and statement of financial affairs, lease pleadings, cash collateral pleadings, financing pleadings, and pleadings with respect to the Debtors' use, sale or lease of property outside the ordinary course of business; f. representing the Debtors with regard to obtaining use of debtor in possession financing and/or cash collateral including, but not limited to, negotiating and seeking Bankruptcy Court approval of any debtor in possession financing and/or cash collateral pleading or stipulation and preparing any pleadings relating to obtaining use of debtor in possession financing and/or cash collateral; g. assisting the Debtors in any asset sale process; h. assisting the Debtors in the negotiation, formulation, preparation and confirmation of a plan of reorganization and the preparation and approval of a disclosure statement in respect of the plan; and i. performing any other services which may be appropriate in LNBYG's representation of the Debtors during their bankruptcy cases. The firm will be paid at these hourly rates: David L. Neale $795 Ron Bender $795 Timothy J. Yoo $795 David B. Golubchik $795 Eve H. Karasik $795 Gary E. Klausner $795 Eric P. Israel $795 Brad D. Krasnoff $795 Edward M. Wolkowitz $795 Beth Ann R. Young $795 Monica Y. Kim $775 Philip A. Gasteier $775 John N. Tedford, IV $775 Daniel H. Reiss $775 Todd A. Frealy $775 Krikor J. Meshefejian $775 John-Patrick M. Fritz$ $775 Richard P. Steelman, Jr. $750 Juliet Y. Oh $750 Todd M. Arnold $750 Joseph M. Rothberg $750 Jeffrey Kwong $750 Michael D'alba $750 Carmela T. Pagay $725 Anthony A. Friedman $725 Robert Carrasco $595 Paraprofessionals $300 The firm was paid a retainer in the amount of $75,000. In addition, the firm will seek reimbursement for its out-of-pocket expenses. Ron Bender, Esq., managing partner of Levene, Neale, Bender, Yoo & Golubchik, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Ron Bender, Esq. Monica Y. Kim, Esq. Jeffrey S. Kwong, Esq. Levene, Neale, Bender, Yoo & Golubchik L.L.P. 2818 La Cienega Avenue Los Angeles, CA 90034 Telephone: (310) 229-1234 Facsimile: (310) 229-1244 Email: rb@lnbyg.com myk@lnbyg.com jsk@lnbyg.com About Avantgarde Senior Living Avantgarde Senior Living operates senior housing and assisted living communities in Tarzana, California, offering residential care services for elderly individuals. Adelman Tarzana Investments, LLC owns the real property on which the facility operates and leases such property to Avantgarde. Avantgarde and Adelman sought Chapter 11 relief under the U.S. Bankruptcy Code (Bankr. C.D. Calif. Lead Case No. 26-11397) on June 29, with between $10 million and $50 million in both assets and liabilities. Honorable Bankruptcy Judge Martin R. Barash oversees the cases. The Debtors are represented by Ron Bender, Esq., at Levene, Neale, Bender, Yoo & Golubchik L.L.P. AVANTGARDE SENIOR: Seeks to Hire Sherman & Roylance as Broker ------------------------------------------------------------- AvantGarde Senior Living and Adelman Tarzana Investments, LLC seek approval from the U.S. Bankruptcy Court for the Central District of California to employ Sherman & Roylance as their broker. The firm's services include: (a) advising and assisting the Debtors in the development and distribution of selected information, documents and other due diligence or marketing materials, including, if appropriate, advising on and assisting in the preparation of an offering memorandum; (b) marketing and showing AvantGarde Senior Living of Tarzana to prospective buyers; (c) notifying prospective buyers of the sale process and related bid procedures; (d) assisting the Debtors in evaluating indications of interest and proposals regarding any transaction from potential buyers or strategic partners; (e) facilitating the due diligence process with prospective buyers; (f) interacting with PGIM Real Estate Agency Financing, LLC and HUD to keep them apprised of the sale/offer situation and status of the sale process; (g) assisting the Debtors with the negotiation of any transaction, including as needed participating in negotiations with affected contract counterparties or other parties; (h) providing expert advice and testimony regarding financial matters related to any transaction if necessary; and (i) consulting with the Debtors and their advisors regarding the foregoing. Sherman & Roylance will be entitled to receive 2% of the gross purchase price paid for these assets. As disclosed in the court filings, Sherman & Roylance is a "disinterested person" as that term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Shep Roylance Sherman & Roylance 30021 Tomas, Suite 130 Rancho Santa Margarita, CA 92688 Tel: (949) 620-6585 About Avantgarde Senior Living Avantgarde Senior Living operates senior housing and assisted living communities in Tarzana, California, offering residential care services for elderly individuals. Adelman Tarzana Investments, LLC owns the real property on which the facility operates and leases such property to Avantgarde. Avantgarde and Adelman sought Chapter 11 relief under the U.S. Bankruptcy Code (Bankr. C.D. Cal. Lead Case No. 26-11397) on June 29, with between $10 million and $50 million in both assets and liabilities. Honorable Bankruptcy Judge Martin R. Barash oversees the cases. The Debtors are represented by Ron Bender, Esq., at Levene, Neale, Bender, Yoo & Golubchik L.L.P. AZHDERIAN COLD: Hires Harris Law Firm PC as Bankruptcy Counsel -------------------------------------------------------------- Azhderian Cold Storage LLC seeks approval from the U.S. Bankruptcy Court for the Eastern District of California to hire Harris Law Firm, PC as its legal counsel. The firm will render these services: a. take all necessary action to protect and preserve the estate; b. prepare, on behalf of the estate, all necessary applications, motions, answers, orders, briefs, reports and other papers in connection with the administration of the estate; c. develop, negotiate and promulgate a plan; and d. perform all other legal services requested. The firm will charge these hourly rates: Justin D. Hanis, Attorney $490 James R. Proctor III, Attorney $325 George Hewett, Legal Assistant $200 Nannette Franco, Paralegal $225 Prior to the petition date, Harris received a retainer in the sum of $15,000. Harris does not hold or represent any interests adverse to the Debtor and its estate, according to court filings. The firm can be reached through: Justin D. Harris, Esq. Harris Law Firm, PC 7110 N. Fresno St., Suite 400 Fresno, CA 93720 Tel: (559) 272-5700 Fax: (559) 554-9989 Email: jdh@harrislawfirm.net About Azhderian Cold Storage LLC Azhderian Cold Storage LLC filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. E.D. Cal. Case No. 26-12932) on June 24, 2026, listing up to $50,000 in both assets and liabilities. Judge Jennifer E Niemann presides over the case. Justin D. Harris, Esq. at Harris Law Firm, PC serves as the Debtor's counsel. BARCELONA BEST: Court Orders Appointment of Chapter 11 Trustee -------------------------------------------------------------- Judge Stacey G.C. Jernigan of the U.S. Bankruptcy Court for the Northern District of Texas ordered the United States Trustee to appoint a Chapter 11 Trustee in these bankruptcy cases: 1. 727 LOFTS BEST LIVING, LLC, Case No. 26-32779-SGJ11 (Jointly Administered); 2. 727 LOFTS HOLDINGS, LLC, Case No. 26-32780-SGJ11 (Jointly Administered); 3. REMINGTON RANCH'S BEST LIVING, LLC, Case No. 26-32804-SGJ11; 4. LOFTS AT NORTH PENN BEST LIVING, LLC, Case No. 26-32920-SGJ11; 5. A-V VILLAGE CREEK OWNER, LLC, Case No. 26-32922-SGJ11; 6. BARCELONA BEST LIVING, LLC, Case No. 26-33093-SGJ11 7. LOUIS INVESTMENTS, LLC, Case No. 26-33110-SGJ11; 8. WOODLAND MANOR BEST LIVING, LLC, Case No. 26-33167-SGJ11 (Jointly Administered); 9. WOODLAND MANOR TIC 1, LLC, Case No. 26-33168-SGJ11 (Jointly Administered); and 10. RIDGE BEST LIVING, LLC, Case No. 26-33177-SGJ11. On July 27 and 28, 2026, the court held a hearing on an emergency request for injunctive relief filed by debtor Louis Investments, LLC. During the hearing, the court heard evidence that was clear and convincing that Marc Kulick, the Debtors' principal, who made the decision to file these cases, has engaged in mismanagement, has conflicts of interest, has possibly breached fiduciary duties to the entities to the detriment of general creditors, and has not acted as a responsible corporate citizen with regard to real properties owned by the Debtors. The hearing was supposed to be about alleged stay violations by an entity named YSA Investments I, LLC, which made a 7000% annual interest loan (and other high interest loans in 2025) to an entity controlled by Mr. Kulick, and then later recorded second liens on real properties owned by the Debtors, and then purported, through a power of attorney from Mr. Kulick, to transfer the Debtors' real properties to itself in the weeks before the Debtors filed bankruptcy. YSA is owned or controlled by Mr. Ephraim Diveroli who has been described to the court as an international arms trader who was convicted of a felony, served time in prison, and then was the subject of a movie called War Dogs. Before Mr. Diveroli was supposed to take the witness stand on the second day of the Hearing (after two long days of testimony), the court was informed that YSA had filed bankruptcy moments earlier in Delaware. There are companies related to the Debtors that are already in bankruptcy in Oklahoma and in Maryland. Mr. Kulick owns more than 30 apartment complexes with many different first lien secured lenders. Many of these loans have matured or are in default. The court has determined that "cause" exists for the immediate appointment of a Chapter 11 Trustee under 11 U.S.C. Secs. 1104(a) and 105(a). Such "cause" includes the Debtor's neglect of fiduciary duties, mismanagement, conflicts, and failure to act as a responsible corporate citizen with regard to properties of the Debtor. According to Judge Stickles, "In short, there has been irresponsibility and neglect of creditor's priorities and rights in attending to the needs of the Debtors. And there would appear to be a failure to focus on the duty to maximize value for the creditors ahead of the equity owners/guarantors. These cases need a neutral third party to exercise fiduciary duties and decide if there are solutions to the many problems these Debtors have. Someone needs to step into the chaos that the Debtors and YSA Investment I, LLC have created." A copy of the Court's Order dated July 28, 2026, is available at https://urlcurt.com/u?l=cubmAV from Pacermonitor.com. About Barcelona Best Living, LLC Barcelona Best Living, LLC is a single-asset real estate company that owns Barcelona Apartments, a multifamily apartment property in Tulsa, Oklahoma. Barcelona Best Living, LLC and several entities sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Tex. Case No. 26-33093) on July 9, 2026. In the petition signed by Mark Kulick, authorized signer, Barcelona Best disclosed up to $50 million in both assets and liabilities. Joyce Lindauer, Esq., at Lindauer & Vaughn, represents Barcelona Best as legal counsel. BELLA CAPRI: Plan Confirmation Hearing Scheduled for Aug. 25 ------------------------------------------------------------ Judge Peter D. Russin of the U.S. Bankruptcy Court for the Southern District of Florida conditionally approved the Amended Disclosure Statement in connection with the Amended Chapter 11 Plan of Bella Capri, LLC. The Amended Disclosure Statement is conditionally approved as containing adequate information in accordance with section 1125 of the Bankruptcy Code and is subject to final approval of the Court at the Combined Hearing. The Debtor's request for a Combined Hearing on the final approval of the Disclosure Statement and confirmation of the Plan, and the following Confirmation Schedule, are approved: * The Court will conduct the confirmation hearing and consider final approval of the disclosure statement on August 25, 2026 at 10:00 a.m. * August 17, 2026 is the deadline for filing ballots accepting or rejecting the Plan. * August 17, 2026 is the deadline for filing objections to final approval of Disclosure Statement. * August 17, 2026 is the deadline for filing objections to confirmation of the Plan. As shared by the Troubled Company Reporter, the Debtor is a single-asset real estate limited liability company whose sole material asset is a luxury condominium unit located at 17875 Collins Avenue, Penthouse 4506, Sunny Isles Beach, Florida 33160 (the "Property"). The Plan contemplates the marketing and sale of the Property free and clear of liens, claims, interests, and encumbrances pursuant to Section 363 of the Bankruptcy Code, with all valid, perfected, and enforceable liens to attach to the Sale Proceeds with the same validity, priority, and extent as such liens attached to the Property immediately before the Closing, subject to satisfaction and release as provided in the Plan and the Sale Order. If a contract for sale of the Property has not been accepted by the Debtor by September 30, 2026, then the Property shall immediately be marketed for sale by public auction which shall occur on or before November 23, 2026. Class 4 consists of General Unsecured Claims. Paid pro rata with Class 5 Claims from remaining Net Sale Proceeds, if any, after payment of Class 1, 2, 3, and Administrative Claims. The allowed unsecured claims total $21,691.85 plus interest if the estate is solvent. This Class is impaired. The Plan will be funded primarily from the Sale Proceeds realized from the sale of the Property pursuant to Section 363 of the Bankruptcy Code and the Sale Order. After payment of ordinary and customary closing costs, taxes, brokerage commissions, and other expenses of sale approved by the Bankruptcy Court, the Net Sale Proceeds will be distributed in accordance with Article V of the Plan. To the extent necessary and available, any Cash on hand, refunds, or recoveries, including any potential recoveries on account of causes of action preserved by the Debtor, may be used to satisfy Plan obligations, subject to the provisions of the Plan and the Confirmation Order. From Confirmation through the Effective Date, the Debtor's Members, Semyon Shtayner and Yasya Shtayner, will continue to advance costs and provide services necessary to physically maintain the Property and keep current all required insurance coverages. A full-text copy of the Amended Disclosure Statement dated July 13, 2026 is available at https://urlcurt.com/u?l=Y8EevF from PacerMonitor.com at no charge. Bella Capri, LLC is represented by: SCHATZMAN & SCHATZMAN, P.A. Jeffrey N. Schatzman, Esq. 9990 S.W. 77th Avenue Penthouse 2 Miami, Florida 33156-8115 Telephone: (305) 670-6000 Email: jschatzman@schatzmanlaw.com A copy of the Court's Order dated July 20, 2026, is available at https://urlcurt.com/u?l=Llg2jG from PacerMonitor.com. About Bella Capri LLC Bella Capri, LLC, a company in Sunny Isles Beach, Fla., sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 25-24523) on Dec. 9, 2025. In its petition, the Debtor reports estimated assets ranging from $10 million to $50 million and estimated liabilities between $1 million and $1 million. Bankruptcy Judge Laurel M. Isicoff oversees the case. The Debtor is represented by Jeffrey N. Schatzman, Esq. BLEU NOVO: $430K Unsecured Claims to Recover 10% over 3 Years ------------------------------------------------------------- Bleu Novo LLC f/k/a Home Team Medical Clinic, LLC, submitted a First Amended Plan of Reorganization dated July 20, 2026. The debtor operates a medical business that provides skin care and weight loss services. Its revenue comes from performing procedures such as micro-needling and filler injections, as well as selling skin care products and vitamins. The bankruptcy filing resulted from the debtor entering into equipment leases that did not generate enough additional income to cover the lease obligations. After filing for bankruptcy, the debtor rebranded from Home Team Medical to Bleu Novo LLC. The rebranding changed only the business name; the employer identification number (EIN), business operations, and employees remained the same. The debtor's financial projections (Exhibit B) indicate projected disposable income of $43,355 over the required 36-month period. This income is expected to fund the plan, including required monthly plan payments of $1,204. The plan provides for the following treatment of unsecured claims: Class 5 Convenience Class of General Unsecured Claims: This class includes general unsecured claims under $6,000, specifically: * Marlin Leasing Corporation dba PEAC Solutions: $5,415.07 * American Express (Proof of Claim No. 6): $2,925.55 * American Express (Proof of Claim No. 7): $2,925.90 The three claims total $11,266.52. Class 5 creditors will receive 50% of their claims, totaling $5,633.26, in a single lump-sum payment on the plan's effective date using funds held in the debtor-in-possession (DIP) account. The debtor will serve as its own disbursing agent. Class 6 General Unsecured Claims: This class totals approximately $430,543, including filed, scheduled, and estimated deficiency claims. Class 6 creditors will receive a pro rata share of $43,355, representing an estimated 10% distribution. Payments will be funded from the debtor's post-confirmation disposable income and made in 12 quarterly payments of $3,613 over three years, beginning on the 15th day of the fourth month after the plan's effective date. The debtor will also serve as the disbursing agent for these payments. The debtor's sole equity holder, Savannah Murray, will retain her ownership interest and become the sole member of the reorganized debtor. The plan will be funded through the debtor's post-petition disposable income. Funds in the DIP account will be used to pay administrative expenses and the Class 5 lump-sum payment. The debtor estimates that the DIP operating account will contain approximately $25,000 as of the confirmation hearing. The plan's effective date will be the first business day 14 days after entry of the confirmation order, unless a stay is in effect, in which case the effective date will be the first business day after the stay expires or is terminated. A full-text copy of the First Amended Plan dated July 20, 2026 is available at https://urlcurt.com/u?l=dlB09b from PacerMonitor.com at no charge. Counsel to the Debtor: Robin R. De Leo, Esq. THE DE LEO LAW FIRM, LLC 800 Ramon Street Mandeville, LA 70448 Telephone: (985) 727-1664 E-mail: elaine@northshoreattorney.com About Home Team Medical Clinic Home Team Medical Clinic, LLC, is in the business of providing medical services for skin care and weight loss. Home Team Medical Clinic filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. E.D. La. Case No. 26-10240) on Feb. 2, 2026, with $50,001 to $100,000 in assets and $500,001 to $1 million in liabilities. Judge Meredith S. Grabill presides over the case. Robin R. DeLeo, Esq., represents the Debtor as legal counsel. BOY SCOUTS: Ex-Counsel Blamed for $2.7MM Loss --------------------------------------------- Rose Krebs of Law360 Bankruptcy Authority reports that a claimant has asked a Delaware bankruptcy judge to reinstate his direct abuse claim against the Boy Scouts of America Settlement Trust, arguing that his former attorneys at Ahrens Law APC failed to timely file required documentation, resulting in the loss of an estimated $2.7 million recovery. The claimant contends that the missed filing was the result of attorney error rather than any failure on his part. According to the motion, the claimant alleges he fully cooperated with his former counsel and provided the information necessary to support his claim, but the law firm failed to submit critical documents before the applicable deadline. He argues that denying his claim because of counsel's alleged negligence would produce an unjust result and deprive him of compensation intended for abuse survivors. The claimant is asking the bankruptcy court to restore his claim and allow it to proceed through the settlement trust's review process. The dispute highlights ongoing litigation over the administration of the trust established under the Boy Scouts' Chapter 11 plan, which was created to compensate tens of thousands of survivors of childhood sexual abuse, the report states. About Boy Scouts of America The Boy Scouts of America -- https://www.scouting.org/ -- is a federally chartered non-profit corporation under title 36 of the United States Code. Founded in 1910 and chartered by an act of Congress in 1916, the BSA's mission is to train youth in responsible citizenship, character development, and self-reliance through participation in a wide range of outdoor activities, educational programs, and, at older age levels, career-oriented programs in partnership with community organizations. Its national headquarters is located in Irving, Texas. The Boy Scouts of America and affiliate Delaware BSA, LLC, sought Chapter 11 protection (Bankr. D. Del. Lead Case No. 20-10343) on Feb. 18, 2020, to deal with sexual abuse claims. Boy Scouts of America was estimated to have $1 billion to $10 billion in assets and at least $500 million in liabilities as of the bankruptcy filing. The Debtors have tapped Sidley Austin LLP as their bankruptcy counsel, Morris, Nichols, Arsht & Tunnell LLP as Delaware counsel, and Alvarez & Marsal North America, LLC, as financial advisor. Omni Agent Solutions is the claims agent. The U.S. Trustee for Region 3 appointed a tort claimants' committee and an unsecured creditors' committee on March 5, 2020. The tort claimants' committee is represented by Pachulski Stang Ziehl & Jones, LLP, while the unsecured creditors' committee is represented by Kramer Levin Naftalis & Frankel, LLP. The Debtors obtained confirmation of their Third Modified Fifth Amended Chapter 11 Plan of Reorganization (with Technical Modifications) on September 8, 2022. The Order was affirmed on March 28, 2023. The Plan was declared effective on April 19, 2023. The Hon. Barbara J. House (Ret.) has been appointed as trustee of the BSA Settlement Trust. BRAYMAN PRECAST: Hires Omni Agent as Claims and Noticing Agent -------------------------------------------------------------- Brayman Precast, LLC seeks approval from the U.S. Bankruptcy Court for the Western District of Pennsylvania to hire Omni Agent Solutions, Inc. as claims and noticing agent. Omni will oversee the distribution of notices and will assist in the maintenance, processing, and docketing of proofs of claim filed in the Chapter 11 cases of the Debtors. Omni received a retainer in the amount of $25,000. Paul Deutch, an executive vice president at Omni, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Paul H. Deutch Omni Agents Solutions, Inc. 1120 Avenue of Americas, 4th Floor New York, NY 10036 Tel: (212) 626-6565 Fax: (646) 380-3062 Email: pdeutch@OmniAgnt.com About Brayman Precast, LLC Brayman Precast, LLC filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. W.D. Pa. Case No. 26-22052) on July 24, 2026, listing $1,000,001 to $10 million in assets and $500,001 to $1 million in liabilities. Judge Carlota M Bohm presides over the case. Michael J. Roeschenthaler, Esq. at Raines Feldman Littrell LLP serves as the Debtor's counsel. BRAYMAN PRECAST: Taps Omni Agent Solutions as Administrative Agent ------------------------------------------------------------------ Brayman Precast, LLC seeks approval from the U.S. Bankruptcy Court for the Western District of Pennsylvania to hire Omni Agent Solutions, Inc. as administrative agent. The firm will provide these services: a. assist with, among other things, solicitation, balloting, and tabulation of votes; prepare any related reports, as required in support of confirmation of a chapter 11 plan (if applicable); b. prepare an official ballot certification and, if necessary, testify in support of the ballot tabulation results (if applicable); c. assist with the preparation of the Debtor’s schedules of assets and liabilities and statements of financial affairs and gather data in conjunction therewith; d. provide a confidential data room; e. manage and coordinate any distributions pursuant to a chapter 11 plan if designated as distribution agent under such plan; and f. provide claims analysis and reconciliation, case research, depository management, treasury services, confidential online workspaces or data rooms, and any related services otherwise required by applicable law, governmental regulations, or court rules or orders in connection with this Chapter 11 Case. Prior to the Petition Date, the Debtor provided the firm with a retainer in the amount of $25,000. Paul Deutch, executive vice president at Omni Agent Solutions, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm be reached through: Paul Deutch Omni Agent Solutions, Inc. 1120 Avenue of the Americas, 4th Floor New York, NY 10036 Telephone: (212) 302-3580 Facsimile: (212) 302-3820 Email: paul.web@omniagnt.com About Brayman Precast, LLC Brayman Precast, LLC filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. W.D. Pa. Case No. 26-22052) on July 24, 2026, listing $1,000,001 to $10 million in assets and $500,001 to $1 million in liabilities. Judge Carlota M Bohm presides over the case. Michael J. Roeschenthaler, Esq. at Raines Feldman Littrell LLP serves as the Debtor's counsel. BRAZAS CHICKEN: Court Extends Cash Collateral Access to Sept. 3 --------------------------------------------------------------- Brazas Chicken Inc. received another extension from the U.S. Bankruptcy Court for the Middle District of Florida, Orlando Division, to use cash collateral. The court entered a third interim order extending the Debtor's authority to use cash collateral to September 3 from July 22. Under the order, the Debtor is authorized to pay operating expenses listed on its budget and court-approved expenses. The Debtor may also make additional expenditures if approved in writing by secured creditors including the U.S. Small Business Administration, Tanders Bank, and Boca Capital Partners, LLC. The Debtor projects total monthly operational expenses of $34,843. As adequate protection, the secured creditors and any junior lienholders will be granted perfected post-petition replacement liens on cash collateral. These replacement liens maintain the same validity, priority, and extent as the creditors' pre-petition liens. Additional safeguards include insurance coverage on the Debtor's property in accordance with applicable loan and security agreements. The order preserves the rights of all parties to seek additional adequate protection or restrictions on cash collateral use. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/H77t4 from PacerMonitor.com. The next hearing is scheduled for September 3. About Brazas Chicken Inc. Brazas Chicken Inc. operates in the restaurant and food-service industry, offering prepared meals and dining services. The company is engaged in the operation and management of restaurant-related business activities. Brazas Chicken Inc. sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-03802) on May 22, 2026. In its petition, the debtor reported estimated assets of $100,001-$1 million and estimated liabilities of $100,001-$1 million. Honorable Bankruptcy Judge Tiffany P. Geyer handles the case. The debtor is represented by Daniel A. Velasquez, Esq., of Latham, Luna, Eden & Beaudine, LLP. BRIDGE TO ADULTHOOD: Seeks to Extend Plan Exclusivity to Aug. 24 ---------------------------------------------------------------- Bridge to Adulthood, LLC, asked the U.S. Bankruptcy Court for the Western District of Kentucky to extend its exclusivity periods to file a plan of reorganization and obtain acceptance thereof to Aug. 24 and Oct. 23, 2026, respectively. The Debtor seeks an extension of its exclusivity period for filing and soliciting acceptances of a plan. On April 7, 2026, Brian and Katrina Comley, the principals of Debtor, filed a voluntary petition for relief under Chapter 7 of the Bankruptcy Code. Case No. 26-10315- JAL in the United States Bankruptcy Court for the Western District of Kentucky (the "Comley Bankruptcy Case"). Louise Smith is Debtor's largest creditor holding a judgment totaling approximately $4.5 million. Special Counsel to the Debtor has appealed that judgment in the Kentucky Court of Appeals. The appeal was temporarily stayed by the bankruptcy filing but has been returned to the active docket. The Debtor explains that in the course of briefing, its appellate counsel discovered several issues giving rise to a legal malpractice claim. Debtor and the Comley's have engaged Hans Poppe to represent them in the legal malpractice claim. As of the filing of this motion, there has been an agreement tolling the running of the statute of limitations on the legal malpractice claim pending resolution of the appeal. The Debtor claims that if it prevails in whole or in part in its appeal, it will have a significant impact on plan payments. In addition, any recovery under the legal malpractice claim will likewise impact payments to creditors. Debtor is working with Special Counsel and the undersigned Counsel to create potential outcomes and corresponding financial projections. In addition, Brian Comley, has served as the designated party preparing the operating reports and projections for Debtor. On June 22, 2026, Mr. Comley had neck surgery and is not yet able to return to work. Debtor's counsel is working with both principals to catch up the operating reports and navigate the plan forward. The Debtor asserts that the extension requested herein will enable all parties in interest to have more information to base their analyses of the Debtor's chapter 11 plan, risks on appeal, potential for recovery on the legal malpractice claim. Bridge to Adulthood LLC is represented by: Charity S. Bird, Esq. Tyler R. Yeager, Esq. J. Gabriel Dennery, Esq. KAPLAN JOHNSON ABATE & BIRD LLP 710 W. Main St., 4th Floor Louisville, KY 40202 Telephone: (502) 416-1630 E-mail: cbird@kaplanjohnsonlaw.com tyeager@kaplanjohnsonlaw.com gdennery@kaplanjohnsonlaw.com About Bridge to Adulthood LLC Bridge to Adulthood LLC provides residential and community-based support services for individuals with intellectual and developmental disabilities in Kentucky. The Company participates in state Medicaid waiver programs, including the Michelle P. Waiver for children and teenagers and the Supports for Community Living program for adults, offering alternatives to institutional care. Its services include residential care, in-home and community support, and animal therapy, with operations centered at its facility in Allensville. Bridge to Adulthood LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Ky. Case No. 25-10810) on Sept. 23, 2025. In its petition, the Debtor reports estimated estimated assets between $100,000 and $500,000 and estimated liabilities between $1 million and $10 million. Honorable Bankruptcy Judge Joan A. Lloyd handles the case. The Debtor tapped Charity S. Bird, Esq., at Kaplan Johnson Abate & Bird LLP as bankruptcy counsel and Gray Ice Higdon, PLLC as special counsel. BUCKINGHAM SENIOR LIVING: Gets Extension to Access Cash Collateral ------------------------------------------------------------------ The U.S. Bankruptcy Court for the Northern District of Texas amended its final order that authorized Buckingham Senior Living Community, Inc.'s debtor-in-possession financing and use of cash collateral. Under the amended final order, the maturity date is extended solely to permit the Debtor's continued use of cash collateral in accordance with its revised budget until the later of August 31 or the effective date of its Chapter 11 plan. Except for the extension, all provisions of the original final order remain in full force and effect. UMB Bank, N.A., as bond trustee, retains all rights, liens, priorities, protection, and benefits granted under the original order. The amendment is a result of an agreement between the Debtor and UMB Bank. Instead of seeking new financing, both agreed to amend the final order to allow the Debtor's continued access to cash collateral. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/khQFS from PacerMonitor.com. About the Buckingham Senior Living The Buckingham Senior Living Community is a Houston-based continuing care retirement community (CCRC). The Buckingham sought Chapter 11 protection (Bankr. S.D. Tex. Lead Case No. 21-32155) on June 25, 2021. In its petition, The Buckingham estimated assets of between $100 million and $500 million and liabilities of the same range. The case is handled by Honorable Judge Marvin Isgur. Christopher Andrew Bailey, and Demetra Liggins of Thompson & Knight LLP serve as the Debtor's counsel. Bankruptcy Management Solutions, Inc., d/b/a Stretto, is the Debtor's claims and noticing agent. Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. represents UMB Bank, N.A., in its capacity as Bond Trustee, as DIP Lender. BY HOTEL: Plan Exclusivity Period Extended to Oct. 5 ---------------------------------------------------- Judge J. Kate Stickles of the U.S. Bankruptcy Court for the District of Delaware extended BY Hotel SPE-3 LLC and its affiliates' exclusive periods to file a plan of reorganization and obtain acceptance thereof to Oct. 5 and Dec. 3, 2026, respectively. As shared by Troubled Company Reporter, the Debtors explain that there is more than sufficient cause to approve the extension of the Exclusive Periods: * With the recent substitution of counsel for the Debtors and the retention of a chief restructuring officer, the Debtors require additional time to prepare adequate information and negotiate a chapter 11 plan with key creditor constituencies. * The Debtors have, among other things: (i) minimized the adverse effects caused by the commencement of the Chapter 11 Cases on their business by securing various first-day relief on both interim and final basis; (ii) obtained four consecutive interim orders authorizing the use of cash collateral to enable the Debtors to fund the Chapter 11 Cases; (iii) retained professionals in the Chapter 11 Cases; (iv) filed their schedules and statements; (v) obtained entry of a bar date order; and (vi) continued negotiations with their key stakeholders regarding a potential exit path from chapter 11. * Since the filing of the Chapter 11 Cases, the Debtors have continued to pay substantially all of their undisputed, postpetition expenses and invoices. * The requested extension of the Exclusive Periods is the first such request made in the Chapter 11 Cases and comes approximately three months after the Petition Date. * The Debtors are not seeking an extension to prejudice the Debtors' creditor constituencies or grant the Debtors any unfair bargaining leverage. The Debtors have no ulterior motive in seeking an extension of the Exclusive Periods. The Debtors have been in regular communication with their creditor constituencies on numerous issues facing their estates, chiefly financing to support the administration of these Chapter 11 Cases, and have worked diligently in the prepetition and postpetition periods to maximize the value of their estates. Proposed Counsel for the Debtors: Russell C. Silberglied, Esq. Amanda R. Steele, Esq. Brendan J. Schlauch, Esq. Clint M. Carlisle, Esq. Kristin N. Cunningham, Esq. RICHARDS, LAYTON & FINGER, P.A. One Rodney Square 920 North King Street Wilmington, DE 19801 Telephone: (302) 651-7700 Facsimile: (302) 651-7701 Email: silberglied@rlf.com steele@rlf.com schlauch@rlf.com carlisle@rlf.com cunningham@rlf.com About By Hotel SPE-3 By Hotel SPE-3, LLC is a hospitality investment company specializing in the ownership and management of hotel properties. As a special purpose entity, By Hotel SPE-3 focuses on managing hotel-related assets and supporting hospitality operations. By Hotel SPE-3 and affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Lead Case No. 26-10324) on March 8, 2026. In its petition, By Hotel SPE-3 reported between $100 million and $500 million in both assets and liabilities. Judge J. Kate Stickles oversees the cases. The Debtors tapped Rafael X. Zahralddin-Aravena, Esq., and Scott D. Cousins, Esq., at Lewis Brisbois Bisgaard & Smith, LLP as bankruptcy counsel; and Getzler Henrich & Associates, LLC as financial advisor. CAB PROPERTIES: Hires Tarpy Cox Fleishmann & Leveille as Counsel ---------------------------------------------------------------- CAB Properties, LLC seeks approval from the U.S. Bankruptcy Court for the Eastern District of Tennessee to hire Tarpy, Cox, Fleishmann, & Leveille, PLLC as counsel. Services to be performed include all matters dealing with the Chapter 11 bankruptcy including litigation in the bankruptcy, federal and state courts. Lynn Tarpy will be compensated at an hourly rate of $425 and Kelli Holmes will be compensated at an hourly rate of $335. Staff will be reimbursed at $75 to $95 per hour for paralegals or law clerks, $275 per hour for associate attorneys, $350 for Ed Shultz, and $425 per hour for Thomas Leveille. The firm received a retainer in the amount of $20,000, plus $1,738 filing fee. Tarpy, Cox, Fleishman & Leveille, PLLC is a "disinterested person" within the meaning of 11 U.S.C. Sec. 327, according to court filings. The firm can be reached at: Kelli D. Holmes, Esq. Tarpy, Cox, Fleishman & Leveille, PLLC 1111 N. Northshore, Suite N-290 Knoxville, TN 37919 Telephone: (865) 588-1096 About CAB Properties, LLC CAB Properties, LLC filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. E.D. Tenn. Case No. 26-50941) on July 23, 2026, listing $1,000,001 to $10 million in both assets and liabilities. Judge Rachel Ralston Mancl presides over the case. Kelli Danielle Holmes, Esq. at Tarpy, Cox, Fleishmann, & Leveille, PLLC serves as the Debtor's counsel. CACERES SPECIALIZED: Affiliate Gets Court OK to Use Cash Collateral ------------------------------------------------------------------- REJUV Cosmetic Surgery Institute and Spa LLC, an affiliate of Caceres Specialized Gynecology, LLC, received second interim approval from the U.S. Bankruptcy Court for the Middle District of Florida to use cash collateral. Under the order, the Debtor is authorized to use cash collateral through October 15 to pay necessary operating expenses and administrative costs in accordance with an approved interim budget. Spending is subject to a 10% variance cap on budgeted line items, and professional fees and debt-service payments may not be made during the interim period unless separately authorized by the court. The order also permits payment of the Subchapter V trustee's interim compensation of $1,000 per month. As adequate protection, First Southern Bank and any other secured lenders will be granted perfected post-petition replacement liens on cash collateral, maintaining the same validity, extent, and priority as their pre-petition liens without requiring additional filings or documentation. The replacement liens secure the obligations owed to the respective secured lenders during the interim period. The order preserves the rights of the U.S. Trustee, creditors, and other parties in interest to object, seek additional protections, or request modifications to the cash collateral arrangements at a later stage of the case. A copy of the court's order and the Debtor's budget is available at https://h1.nu/1AyVf from PacerMonitor.com. The court scheduled a continued preliminary hearing for October 15. About Caceres Specialized Gynecology LLC Caceres Specialized Gynecology, LLC is a gynecology practice with locations in Kissimmee and Celebration, Florida. Caceres Specialized Gynecology and three affiliates filed petitions under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. M.D. Fla. Lead Case No. 26-04100) on June 1, 2026. At the time of the filing, Caceres Specialized Gynecology reported $1 million to $10 million in both assets and liabilities. Judge Grace E. Robson oversees the case. R. Scott Shuker, Esq., at Shuker & Dorris, P.A. represents the Debtors as legal counsel. CAMP MYSTIC: Hires Vartabedian Katz Hester & Haynes as Attorney --------------------------------------------------------------- Camp Mystic, LLC and its debtor affiliates seek approval from the U.S. Bankruptcy Court for the Southern District of Texas to employ Vartabedian Katz Hester & Haynes LLP as attorneys. The firm will render these services: a. advise the Debtors with respect to its rights, duties, and powers in these Chapter 11 Cases and as debtors-in-possession continuing to operate and manage their businesses and assets; b. assist and advise the Debtors concerning the negotiation and documentation of agreements, debt restructurings, and related transactions; c. assist the Debtors in analyzing the claims of the Debtors' creditors and in negotiating with holders of claims; d. review the nature and validity of liens asserted against property of the Debtors and advising the Debtors concerning the enforceability of such liens; e. assist the Debtors in their analysis of, and negotiations with, any creditors or third-party concerning matters related to, among other things, the assumption and rejection of executory contracts, asset dispositions, and financing or other transactions; f. advise the Debtors concerning the actions that it might take to collect and to recover property for the benefit of the Debtors' estates; g. represent the Debtors at hearings and other proceedings; h. prepare, on behalf of the Debtors, all necessary and appropriate applications, motions, pleadings, proposed orders, schedules and other documents, and reviewing all financial and other reports to be filed in these Chapter 11 Cases; i. counsel the Debtors in connection with the formulation, negotiation, and promulgation of one or more plans of reorganization and accompanying disclosure statements and related plan documents; j. prepare, on behalf of the Debtors, any pleadings, including without limitation, motions, memoranda, complaints, adversary complaints, objections, or comments in connection with any of the foregoing; k. perform such other legal services as may be required or requested or as may otherwise be deemed in the interests of the Debtors in accordance with the Debtors' powers and duties as set forth in the Bankruptcy Code, Bankruptcy Rules, or other applicable law; and l. all such other legal services as may be necessary or appropriate in connection with these Chapter 11 Cases. The firm will be paid at these hourly rates: Martin A. Sosland, Partner $1,150 Jeff P. Prostok, Partner $1,050 Candice M. Carson, Partner $875 Suzanne K. Rosen, Partner $925 Lynda L. Lankford, Partner $775 Emily S. Chou, Counsel $725 Blake Berryman, Counsel $750 Mary Taylor Stanberry, Associate $515 Other Firm Attorneys $465 to $1,150 Paralegal/Legal Assistant $250 to $395 The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. The firm received a retainer in the amount of $250,000. Candice Carson, Esq., a partner with Vartabedian Katz Hester & Haynes LLP, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Candice M. Carson, Esq. Vartabedian Katz Hester & Haynes LLP 2200 Ross Ave., Ste. 4200W Dallas, TX 75201 Phone: (214) 247-6854 Email: candice.carson@vkhh.com About Camp Mystic, LLC Camp Mystic operates as a private Christian summer camp for girls, offering summer camping programs focused on personal development, self-esteem, spirituality, friendships, and life skills. Established in 1926, the camp is located in Hunt, Texas, near the Guadalupe River and Cypress Creek, about 18 miles northwest of Kerrville. Camp Mystic was founded by University of Texas coach "Doc" Stewart and offers multiple summer sessions for campers. Camp Mystic, LLC sought protection under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Tex. Case No. 26-90621) on June 24, 2026. At the time of the filing, Camp Mystic, LLC had estimated assets of between $1,000,001 and $10 million and liabilities of between $10,000,001 and $50 million. Judge Christopher M. Lopez oversees the case. Vartabedian Katz Hester & Haynes LLP is Debtor's legal counsel. CAMP MYSTIC: Seeks to Hire CR4 Partners LLC as Financial Advisor ---------------------------------------------------------------- Camp Mystic, LLC seeks approval from the U.S. Bankruptcy Court for the Southern District of Texas to employ CR4 Partners, LLC as financial advisor. The firm's services include: i. providing assistance in connection with the preparation of financial information required for the Debtors' first day motions, disclosure statement, and plan, and other required financial analysis as requested by the Debtors; ii. reviewing and analyzing the financial and operational position of the Debtors, and providing advice to the Debtors in connection with same; iii. preparing data and analyses to meet the requests of the Debtors' financial constituents; iv. providing support to the Debtors' other professionals in connection with execution of the Debtors' business plan, any sales process, and the overall administration of activities within these Chapter 11 Cases; v. providing assistance in connection with the preparation of financial-related disclosures required by the bankruptcy court, including the Schedules of Assets and Liabilities, the Statement of Financial Affairs and Monthly Operating Reports, and any other disclosures required by the Debtors in connection with the bankruptcy process; vi. providing assistance in connection with the preparation of financial information for distribution to creditors and others, including, but not limited to, cash flow projections and budgets, cash receipts and disbursements analysis of various asset and liability accounts, and analysis of proposed transactions for which court approval is sought; vii. participating in meetings and providing assistance to any official committee(s) appointed in the cases, the U.S. Trustee, and other parties in interest, including contractual counterparties, and professionals hired by the same; viii. other activities as are approved by the Debtors and the Debtors' counsel and agreed to by CR4 Partners. CR4 Partners' customary hourly billing rate is $450 an hour. CR4 Partners does not represent or hold any interest adverse to the Debtors' estates, according to court filings. The firm can be reached through: William Roberts CR4 Partners LLC 110 W Arnold St. Granbury, TX 76048 Phone: (415) 930-9110 Email: bill.roberts@cr4partners.com About Camp Mystic, LLC Camp Mystic operates as a private Christian summer camp for girls, offering summer camping programs focused on personal development, self-esteem, spirituality, friendships, and life skills. Established in 1926, the camp is located in Hunt, Texas, near the Guadalupe River and Cypress Creek, about 18 miles northwest of Kerrville. Camp Mystic was founded by University of Texas coach "Doc" Stewart and offers multiple summer sessions for campers. Camp Mystic, LLC sought protection under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Tex. Case No. 26-90621) on June 24, 2026. At the time of the filing, Camp Mystic, LLC had estimated assets of between $1,000,001 and $10 million and liabilities of between $10,000,001 and $50 million. Judge Christopher M. Lopez oversees the case. Vartabedian Katz Hester & Haynes LLP is Debtor's legal counsel. CAMP MYSTIC: Seeks to Hire Ordinary Course Professionals -------------------------------------------------------- Camp Mystic, LLC and its debtor affiliates seek approval from the U.S. Bankruptcy Court for the Southern District of Texas to retain non-bankruptcy professionals in the ordinary course of business. The Debtor needs ordinary course professionals to perform services for matters unrelated to this Chapter 11 case. The Debtor seeks to pay OCPs 100 percent of the fees and expenses incurred. The Debtor does not believe that any of the OCPs have an interest materially adverse to it, its estates, creditors, or other parties-in-interest in connection with the matter upon which they are to be engaged. The OCP includes: Whitley Penn, LLP --Tax Accounting and Tax Advisor Shackelford, McKinley & Norton, LLP --Legal Services Arnold & Freeman, P.C. --Legal Services About Camp Mystic, LLC Camp Mystic operates as a private Christian summer camp for girls, offering summer camping programs focused on personal development, self-esteem, spirituality, friendships, and life skills. Established in 1926, the camp is located in Hunt, Texas, near the Guadalupe River and Cypress Creek, about 18 miles northwest of Kerrville. Camp Mystic was founded by University of Texas coach "Doc" Stewart and offers multiple summer sessions for campers. Camp Mystic, LLC sought protection under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Tex. Case No. 26-90621) on June 24, 2026. At the time of the filing, Camp Mystic, LLC had estimated assets of between $1,000,001 and $10 million and liabilities of between $10,000,001 and $50 million. Judge Christopher M. Lopez oversees the case. Vartabedian Katz Hester & Haynes LLP is Debtor's legal counsel. CAMP MYSTIC: Taps Karen Nicolaou of HMP Advisory Holdings as CRO ---------------------------------------------------------------- Camp Mystic, LLC and its debtor affiliates seek approval from the U.S. Bankruptcy Court for the Southern District of Texas to employ Karen Nicolaou of HMP Advisory Holdings, LLC d/b/a Harney Partners as chief restructuring officer. HP will provide the services of its employee, Karen Nicolaou, to serve as Chief Restructuring Officer of the Debtors with advancing restructuring, financial management, and turnaround strategies, related to these Chapter 11 Cases. The Debtors agreed to pay HP for the CRO's services at a rate of $650/hour, while other members of HP will staff the matter at the following hourly rates: President / EVP $700 to $900 Managing Director $550 to $750 Senior Manager / Director $450 to $600 Manager $350 to $500 Senior Consultant $300 to $400 Support Staff $180 to $250 Ms. Nicolaou, managing director of Harney Partners, assured the court that the firm is a "disinterested person" within the meaning of section 101(14) of the Bankruptcy Code, and does not hold or represent any interest materially adverse to the Debtors or their estates. The firm can be reached through: Karen Nicolaou, CPA, CVA HMP Advisory Holdings, LLC d/b/a Harney Partners Westech 360 8911 North Capital of Texas Highway, Suite 2120 Austin, TX 78759 Phone: (512) 892-0803 Email: knicolaou@harneypartners.com About Camp Mystic, LLC Camp Mystic operates as a private Christian summer camp for girls, offering summer camping programs focused on personal development, self-esteem, spirituality, friendships, and life skills. Established in 1926, the camp is located in Hunt, Texas, near the Guadalupe River and Cypress Creek, about 18 miles northwest of Kerrville. Camp Mystic was founded by University of Texas coach "Doc" Stewart and offers multiple summer sessions for campers. Camp Mystic, LLC sought protection under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Tex. Case No. 26-90621) on June 24, 2026. At the time of the filing, Camp Mystic, LLC had estimated assets of between $1,000,001 and $10 million and liabilities of between $10,000,001 and $50 million. Judge Christopher M. Lopez oversees the case. Vartabedian Katz Hester & Haynes LLP is Debtor's legal counsel. CANDICE SKINNER: Case Summary & 11 Unsecured Creditors ------------------------------------------------------ Debtor: Candice Skinner Real Estate, LLC 2500 McRae St. Leesville, LA 71446 Business Description: Candice Skinner Real Estate, LLC is in the business of selling and managing commercial and residential real estate. Chapter 11 Petition Date: July 21, 2026 Court: United States Bankruptcy Court Western District of Louisiana Case No.: 26-80505 Judge: Hon. Stephen D. Wheelis Debtor's Counsel: Conner L. Dillon, Esq. GOLD, WEEMS, BRUSER, SUES & RUNDELL, A PLC Post Office Box 6118 Alexandria LA 71307-6118 Tel: (318) 445-6471 Fax: (318) 445-6476 E-mail: cdillon@goldweems.com Total Assets: $2,477,082 Total Liabilities: $1,753,027 The petition was signed by Candice Skinner as managing member/broker. A full-text copy of the petition, which includes a list of the Debtor's 11 unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/WVWSUXQ/Candice_Skinner_Real_Estate_LLC__lawbke-26-80505__0001.0.pdf?mcid=tGE4TAMA CICCARELLI & SONS: Plan Exclusivity Period Extended to Sept. 27 --------------------------------------------------------------- Judge Carlota M. Bohm of the U.S. Bankruptcy Court for the Western District of Pennsylvania extended Ciccarelli & Sons, LLC's exclusive periods to file a plan of reorganization and obtain acceptance thereof to Sept. 27 and Nov. 24, 2026, respectively. As shared by Troubled Company Reporter, the Bankruptcy Case and Affiliate Case were filed to prevent the loss of certain rental properties through sheriff's sales, and to allow the Debtors breathing room to devote income from rented properties to the repair of unrented properties, which would allow the unrented properties to be marketed for renting. Ciccarelli reports that substantial progress has been made toward repairing rental properties of each of the Debtors, and that each of the Debtors should have additional properties available for rent in the near future. However, as of the date of this Motion, the Debtor requires more time to stabilize and improve its cash flow and analyze its financial performance to formulate a plan following the repair, marketing, and renting of certain of its rental properties. Ciccarelli explains that it is currently performing substantial repair work to the plumbing and electrical components of the Debtor's multi-unit property at 1500 Edgehill Avenue, in Pittsburgh's Dormont neighborhood. Upon completion of his repair efforts, Ciccarelli estimates that six additional rental units will become available for the Debtor to market and rent, which should produce significant additional revenue for the Debtor to devote to a plan. Ciccarelli claims that the company and counsel are also working to address utility issues affecting one of the Debtor's larger properties at 243 Homestead Street, in Pittsburgh's Swisshelm Park neighborhood. People's Natural Gas has discontinued service to 243 Homestead Street despite being notified of the Bankruptcy Case, which has precluded the property from being rented. In the meantime, the Debtor is communicating with its secured creditors regarding adequate protection payments, and marketing its other unrented properties to prospective tenants. Ciccarelli & Sons, LLC is represented by: Ryan J. Cooney, Esq. Cooney Law Offices LLC 223 Fourth Avenue, 4th Fl. Pittsburgh, PA 15222 Telephone: (412) 546-1234 Facsimile: (412) 546-1235 Email: rcooney@cooneylawyers.com About Ciccarelli & Sons Ciccarelli & Sons LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Pa. Case No. 26-20547) on Feb. 27, 2026. In the petition signed by Christopher M. Ciccarelli, authorized member, the Debtor disclosed up to $10 million in both assets and liabilities. Ryan J. Cooney, Esq., at Cooney Law Offices LLC serves the Debtor as counsel. CLACKAMAS PHYSICAL: Gets Interim OK to Use Cash Collateral ---------------------------------------------------------- Clackamas Physical Therapy Associates, Inc. received another extension from the U.S. Bankruptcy Court for the District of Oregon to use cash collateral. The court entered a second interim order authorizing the Debtor to use cash collateral based on its 30-day budget until entry of a final order. As adequate protection, the U.S. Small Business Administration and all junior secured creditors will be granted replacement liens on the Debtor's post-petition collateral with the same priority and extent as their pre-petition liens. In addition, the SBA will receive a monthly payment of $1,000 until the Debtor's Chapter 11 plan is confirmed or its bankruptcy case is converted or dismissed. Additional safeguards include maintaining property and casualty insurance coverage, naming the secured creditors as loss payees; and segregating post-petition cash collateral in a separate account. The order preserves the rights of the SBA and junior secured creditors to seek additional adequate protection, relief from the automatic stay, or dismissal of the case if circumstances change. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/hz2HA from PacerMonitor.com. A final hearing is scheduled for August 21. About Clackamas Physical Therapy Associates Clackamas Physical Therapy Associates, Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Ore. Case No. 26-32404-pcm11) on July 10, 2026. In the petition signed by Carlene Lewis, secretary, the Debtor disclosed up to $500,000 in assets and up to $10 million in liabilities. Judge Peter C. McKittrick oversees the case. Theodore J. Piteo, Esq., at Michael D. O'Brien & Associates PC, represents the Debtor as legal counsel. COMJOT LLC: Hires Sternberg Naccari & White LLC as Attorney ----------------------------------------------------------- ComJoT LLC seeks approval from the U.S. Bankruptcy Court for the Eastern District of Louisiana to hire Sternberg, Naccari & White, LLC as attorneys. The firm will give the Debtor legal advice with respect to the Debtor's powers and duties as a debtor-in-possession and to perform all legal services for the Debtor which may be necessary. The firm received in trust a retainer in the aggregate amount of $6,740. The firm has agreed to an hourly rate of $400 for Ryan J. Richmond, Esq. Ryan Richmond, Esq., a partner at Sternberg, Naccari & White, LLC, disclosed in court filings that his firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Ryan J. Richmond, Esq. STERNBERG, NACCARI & WHITE, LLC 450 Laurel Street, Suite 1450 Baton Rouge, LA 70801 Tel: (225) 412-3667 Fax: (225) 286-3046 Email: ryan@snw.law About ComJoT LLC ComJoT LLC is a New Orleans, Louisiana-based electronic and communication equipment merchant wholesaler specializing in amateur radio products. Operating as a home-based business since February 2024, the company markets products including the CJ-1 Dual Band Android DMR Open Source Amateur Radio. As of 2026, the business holds a C- rating with the Better Business Bureau following a limited number of customer complaints. ComJoT LLC sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. La. Case No. 26-11769) on July 20, 2026. In its petition, the debtor reported estimated assets of $1 million to $10 million and estimated liabilities of $500,000 to $1 million. Honorable Meredith S. Grabill is overseeing the case. The Debtor is represented by Ryan James Richmond, Esq., of Sternberg, Naccari & White, LLC. CONNECTWISE LLC: Moody's Alters Outlook on 'B2' CFR to Negative --------------------------------------------------------------- Moody's Ratings affirmed ConnectWise, LLC's (ConnectWise) B2 corporate family rating, B2-PD probability of default rating, and B2 ratings on the company's backed senior secured first lien bank credit facilities. The outlook was revised to negative from stable. The affirmation reflects progress in reducing leverage following the two acquisitions in 2024, supported by continued strong free cash flow generation. Moody's adjusted leverage improved to 5.1x as of LTM March 2026 from 6.4x leverage at the time of the acquisitions. However, ConnectWise faced declining retention rates following challenges with the initial rollout of its modern platform in 2024 and intensifying competition in the Managed Service Provider (MSP) software market with market share gains from newer entrants. Moody's expects leverage to increase to the mid-5x range in 2026, a level that remains supportive of the rating level. The change in outlook to negative reflects Moody's expectations that earnings will decline in 2026 with intensifying competition and increased investments in AI capabilities and customer migration to its cloud platform. Continued competitive pressure will limit ConnectWise's growth, and the outlook also reflects the execution risk associated with returning to growth and improving metrics beyond 2026. The outlook also reflects refinancing risk as the company needs to address the $70 million revolver that expires in September 2027 and $1.4 billion of term loan due in September 2028. RATINGS RATIONALE ConnectWise's B2 CFR reflects the company's moderate operating scale, limited product diversity, and exposure to the fragmented and intensely competitive software solutions market for MSPs. The company is moderately exposed to AI-driven disruption, though this risk is partially mitigated by ConnectWise's MSP-centric distribution model, embedded customer relationships, and ability to incorporate AI-enabled functionality into its offerings. While its distribution through MSP partners is efficient, ConnectWise depends on non-exclusive relationships with MSPs and faces increasingly strong competition from incumbents and new entrants that provide broad solutions to MSPs. Bookings have declined since 2024 and Moody's anticipates that the recovery will require additional investment and time. Moody's projects low single-digit revenue decline and margin compression in 2026, driven by increased investments and competition, with the expectation of improvements in 2027. The credit profile benefits from its large customer base, strong market position, and strong free cash flow generation. The company has made progress in new product development, including AI capabilities and addressing prior product quality challenges. Moody's expects with successful operational execution, ConnectWise stands to gain from the solid growth potential driven by the high demand for IT solutions among small and medium businesses (SMBs), which increasingly depend on MSP partners. Moody's expects that ConnectWise will maintain good liquidity supported by a cash balance of nearly $380 million as of March 31, 2026 and projected annual free cash flow (Moody's adjusted) of around $100 million. However, Moody's anticipates that ConnectWise will address the upcoming debt maturities and continue to invest and support the migration to its new software platform, which may limit the potential for further free cash flow improvement. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS The negative outlook reflects Moody's expectations that increasing competitive pressures, continued investments in AI capabilities and customer migration initiatives will weigh on earnings and increase leverage over the next 12 to 18 months. The ratings could be upgraded if ConnectWise demonstrates stronger operating performance, including sustained organic revenue growth in the mid-single-digit percentage range, maintains a strong commitment to conservative financial policies, and leverage is expected to remain below 5x debt/EBITDA (on a Moody's adjusted basis). The ratings could be downgraded if revenue or earnings consistently decline, if ConnectWise is unable to address the upcoming debt maturities in a timely manner, if it pursues aggressive financial policies (e.g., debt funded M&A or dividend payments) that result in sustained leverage above 6.5x debt/EBITDA (on a Moody's adjusted basis), or if free cash flow to debt is expected to be sustained below 5%. Headquartered in Tampa, Florida, ConnectWise, LLC is a provider of software solutions that enable MSPs to serve their SMB end customers. ConnectWise generated over $800 million of revenue in the LTM period ended March 31, 2026. The company is owned by private equity firm Thoma Bravo. The principal methodology used in these ratings was Software published in December 2025. CORRIDOR GARDENS: Hires Scott B. Riddle LLC as Bankruptcy Counsel ----------------------------------------------------------------- Corridor Gardens Intown LLC seeks approval from the U.S. Bankruptcy Court for the Northern District of Georgia to hire the Law Office of Scott B. Riddle, LLC as counsel. The firm will render these services: (a) advise the Debtor with respect to its rights, powers, duties, and obligations as a Debtor-In-Possession in the administration of this case and the management of its property; (b) prepare pleadings, applications, and conduct examinations incidental to administration; (c) advise and represent Debtor in connection with all applications, motions, or complaints for reclamation, adequate protection, sequestration, relief from stay, appointment of a trustee or examiner, and all other similar matters; (d) develop the relationship of the status of Debtor-in-Possession to the claims of creditors in these proceedings; (e) advise and assist the Debtor-in-Possession in the formulation and presentation of a Plan of Reorganization pursuant to Chapter 11 of the Bankruptcy Code and concerning any and all matters relating thereto; and (f) perform any and all other legal services incident and necessary. The Debtor has agreed to compensate the firm at its standard hourly billing rate of $475 per hour. Riddle received a retainer in the amount of $15,000 and the Chapter 11 filing fee of $1,738. Scott Riddle, Esq., managing member of the Law Office of Scott B. Riddle, assured the court that his firm is a "disinterested person" within the meaning of 11 U.S.C. Sec. 101(14). The firm can be reached through: Scott B. Riddle, Esq. Law Office of Scott B. Riddle, LLC 309 E. Paces Ferry Rd NE, Suite 400 Atlanta, GA 30305 Phone: (404) 815-0164 Email: scott@scottriddlelaw.com About Corridor Gardens Intown LLC Corridor Gardens Intown LLC is a Stone Mountain, Georgia-based residential property leasing and management company. The company operates as a single asset real estate business and manages the Corridor Gardens apartment complex located in Atlanta, Georgia. The company is part of a broader real estate portfolio associated with operations across Georgia, Alabama, and Mississippi. Corridor Gardens Intown LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-58991) on July 10, 2026. In its petition, the debtor reported estimated assets of $1 million to $10 million and estimated liabilities of $1 million to $10 million. COSAMIA LLC: Court OKs Continued Access to Cash Collateral ---------------------------------------------------------- The U.S. Bankruptcy Court for the Middle District of Florida, Orlando Division, entered a sixth interim order extending Cosamia, LLC's authority to use cash collateral. Under the sixth interim order, the Debtor is authorized to use cash collateral for court-approved payments and operating costs set forth in its weekly budget. The Debtor may exceed individual budget line items by up to 10%, and additional expenditures may be made if approved in writing by creditors. Any use of cash collateral outside these terms is prohibited. Secured creditors will be granted adequate protection through replacement liens on post-petition cash collateral, with the same validity, priority, and extent as their pre-petition liens. Additional safeguards include insurance coverage consistent with loan and security agreements. The order is entered without prejudice to the rights of parties in interest to seek additional protections or modifications regarding use of cash collateral. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/WGaep from PacerMonitor.com. Servicycles, LLC, a secured creditor, may hold a security interest in the Debtor's cash, cash equivalents, and accounts pursuant to UCC-1 financing statements filed in Florida. About Cosamia LLC Cosamia, LLC operates self-service laundromats, wash-dry-fold services, and laundry pickup and delivery across Miami-Dade and Broward Counties, with centralized management in Orange County, Florida. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 25-08239) on December 18, 2025. In the petition signed by Derek Williams, president and manager, the Debtor disclosed up to $50,000 in assets and up to $10 million in liabilities. Judge Lori V. Vaughan oversees the case. Daniel A. Velasquez, Esq., at Latham Luna Eden & Beaudine LLP, represents the Debtor as legal counsel. COSTELLO PROPERTIES: Commences Chapter 11 Bankruptcy in New York ---------------------------------------------------------------- On July 23, 2026, Costello Properties Limited filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Southern District of New York. According to court filings, the debtor reports between $1 million and $10 million in liabilities owed to 1-49 creditors. The petition lists estimated assets of $1 million to $10 million and estimated liabilities of $1 million to $10 million. A meeting of creditors under Section 341(a) to be held on August 28, 2026 at 02:30 PM at Zoom.us - USTrustee 12: Meeting ID 160 9665 4500, Passcode 9871234560, Phone 1 (202) 796-9507. November 20, 2026 set as deadline for Chapter 11 Plan and Disclosure Statement. About Costello Properties Limited Costello Properties Limited is a Hartsdale, New York-based real estate company engaged in the ownership and leasing of commercial real estate. The company manages income-producing properties in Westchester County, generating revenue through commercial leasing and property management activities. Costello Properties Limited sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Case No. 26-22725) on July 23, 2026. In its petition, the debtor reported estimated assets of $1 million to $10 million and estimated liabilities of $1 million to $10 million. The Honorable Sean H. Lane handles the case. The debtor is represented by Charles A. Higgs of the Law Office of Charles A. Higgs. CPG RESTAURANT: Files Amendment to Disclosure Statement ------------------------------------------------------- CPG Restaurant Corp. submitted a First Amended Disclosure Statement for Plan of Reorganization dated July 21, 2026. The Debtor operates Seaport Diner, located at 5045 Nesconset Highway, Port Jefferson Station, New York. The restaurant serves a diverse American diner-style menu and offers dine-in, outdoor dining, and delivery services. The company is wholly owned by Constantinos Glykos, who serves as president and works full time at the restaurant. The Chapter 11 filing was primarily caused by unpaid taxes owed to New York State and the Internal Revenue Service (IRS). The Debtor fell behind on tax obligations during the pandemic. The Debtor also owes a substantial amount to secured creditor Raymond Fernandez, who financed the restaurant's build-out. The reorganization plan provides the following treatment of claims: * Class 1 Secured Claim of the Internal Revenue Service: -- Paid in full, including statutory interest. -- Payments will be made in regular installments over a period not exceeding five years from the order for relief. * Class 2 Secured Claim of Raymond Fernandez: -- Paid $100,000 over five years. -- Any remaining balance of the claim will be treated as a general unsecured claim. * Class 3 General Unsecured Claims: -- Allowed unsecured claims will receive a 10% distribution over five years from the plan's effective date. -- This class is impaired. Listed unsecured claims include: * Raymond Fernandez: $1,800,000 * New York State Department of Taxation and Finance: $20,688.10 * PSEG Long Island: $67,613.31 * Internal Revenue Service: $2,520 The Debtor's equity is owned entirely by Constantinos Glykos, who will retain his ownership interest by making a $50,000 new value contribution before confirmation of the plan. The Debtor states that this contribution satisfies the new value exception to the absolute priority rule and that Mr. Glykos has the funds available to make the contribution. The plan will be funded through: * The $50,000 capital contribution by Constantinos Glykos, and * Income generated from the restaurant's operations over a five year period. Following confirmation, the Debtor will serve as the disbursing agent and will make all required payments under the plan. A full-text copy of the First Amended Disclosure Statement dated July 21, 2026 is available at https://urlcurt.com/u?l=2xFYCg from PacerMonitor.com at no charge. Counsel for the Debtor: Lawrence F. Morrison, Esq. Brian J. Hufnagel, Esq. MORRISON TENENBAUM PLLC 87 Walker Street, Floor 2 New York, NY 10013 Phone: (212) 620-0938 E-mail: lmorrison@m-t-law.com About CPG Restaurant Corp. CPG Restaurant Corp. operates multiple casual dining locations including Cheesie Pub & Grub, Whiskey Business, and Lost Reef Lounge and virtual concepts like Broke, High & Hungry, and Bob's Bomb Burgers, specializing in comfort food and beverages available for both in-house dining and delivery. CPG Restaurant Corp. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.Y. Case No. 25-44958) on Oct. 15, 2025. In its petition, the Debtor estimated assets up to $100,000 and liabilities. Bankruptcy Judge Jil Mazer-Marino handles the case. The Debtor is represented by Lawrence Morrison, Esq. D 5030 WESTMINSTER: Gets Final OK to Use Cash Collateral -------------------------------------------------------- The U.S. Bankruptcy Court for the Eastern District of Texas, Sherman Division, entered a final order authorizing D 5030 Westminster, LLC to use cash collateral. Under the final order, the Debtor is authorized to use cash collateral, including revenue generated in the ordinary course of business in accordance with the approved budget. The Debtor is permitted to exceed each individual budgeted expense by up to 110% without further court approval. Based on a UCC financing statement filed in Colorado in 2023, Adams Bank & Trust is the Debtor's principal secured creditor. The bank's asserted security interest extends to current and future accounts receivable, cash, and equipment used to operate the Debtor's Westminster hotel. As of the petition date, the Debtor held approximately $29,787 in a business checking account at Adams Bank & Trust and $183 in a money market account, both of which constitute the primary cash collateral. Pursuant to the final order, Adams Bank & Trust and other secured creditors will be granted adequate protection through replacement liens on the Debtor's post-petition cash, accounts receivable, contract rights, deposit accounts, and other post-petition property to the extent of any diminution in value of their collateral. The replacement liens maintain the same validity and priority as on the petition date but do not attach to Chapter 5 causes of action. As further protection, Adams Bank & Trust will receive monthly payments of $50,000. Additional safeguards include insurance coverage and regular financial reporting. The final order includes a $15,000 carveout for trustee expenses, along with carveouts for court fees, U.S. Trustee fees, and court-approved professional fees. The Debtor's authority to use cash collateral automatically terminates if relief from the automatic stay is granted, a trustee is appointed, the Chapter 11 case is converted to one under Chapter 7, or the Debtor defaults without cure. The Debtor has 10 business days to cure any default after notice. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/xdEY9 from PacerMonitor.com. About D 5030 Westminster LLC 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. Honorable Chief Bankruptcy Judge Brenda T. Rhoades is handling the case. The Debtor is represented by Frances A. Smith, Esq., at Offit Kurman. DAN LEPORE & SONS: Court Extends Cash Collateral Access to Aug. 30 ------------------------------------------------------------------ The U.S. Bankruptcy Court for the Eastern District of Pennsylvania approved a sixth extension of Dan Lepore & Sons Company's stipulation with Wells Fargo Bank, N.A., allowing it to continue using the bank's cash collateral to fund its operations. The Debtor lacks sufficient unencumbered funds and needs access to cash collateral to continue operating. Wells Fargo agreed to the extension subject to the terms of the stipulation and the revised operating budget. Under the stipulation, the Debtor's authority to use cash collateral has been extended from August 2 to August 30. The stipulation also confirms that Wells Fargo Bank holds an outstanding claim of $71,451.27, representing the contingent liability on undrawn letters of credit. The debtor acknowledges that it remains liable for any future draws under those letters of credit, together with applicable fees and interest, until the original letters of credit are returned by the beneficiaries. Except for the latest modifications, all provisions of the prior cash collateral agreements and interim orders remain in full force and effect. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/Dpq53 from PacerMonitor.com. A further hearing is scheduled for August 19 to determine whether the use of cash collateral should be extended beyond August 30. Wells Fargo Bank, as secured creditor, is represented by: Christine L. Barba, Esq. Ballard Spahr, LLP 1735 Market Street, 51st Floor Philadelphia, PA 19103 Tel: (215) 864-8148 Facsimile: (215) 864-8999 barbac@ballardspahr.com About Dan Lepore & Sons Company Dan Lepore & Sons Company provides construction and restoration services through divisions focused on stonework, unit masonry, and restoration, offering design and build capabilities along with rigging and scaffolding. It specializes in new building construction, maintenance, dismantlement, reconstruction, and the preservation of historic structures for industrial, commercial, and institutional clients across the United States. Dan Lepore & Sons sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Pa. Case No. 25-14757) on November 21, 2025, listing between $1 million and $10 million in assets and liabilities. Gregory J. Lepore, president of Dan Lepore & Sons, signed the petitions. Judge Ashely M. Chan oversees the case. Aris J. Karalis, Esq., at Karalis PC, represents the Debtor as legal counsel. DAYTONA THUNDER: Cash Collateral Hearing Set for Aug. 6 ------------------------------------------------------- The U.S. Bankruptcy Court for the Middle District of Florida is set to hold a hearing on August 6 to consider extending Daytona Thunder, LLC's authority to use cash collateral. The Debtor is currently authorized to use cash collateral under the court's July 28 interim order. This interim authorization expires on August 6. Under the July 28 interim order, the Debtor is authorized to use cash collateral to pay court-approved expenses, U.S. Trustee quarterly fees, and operating expenses included in the approved budget, with a 10% variance allowed for each budget line item. The budget projects total monthly operational expenses of $3,300. The interim granted secured creditors adequate protection through perfected post-petition replacement liens on cash collateral, with the same validity, extent, and priority as their pre-petition liens. Additional safeguards include maintaining insurance coverage in accordance with the Debtor's loan and security agreements. About Daytona Thunder LLC Daytona Thunder, LLC, a company based in Daytona Beach, Fla., sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 25-07885) on December 11, 2025, with between $1 million and $10 million in both assets and liabilities. Judge Grace E. Robson oversees the case. The Debtor is represented by: Jeffrey Ainsworth, Esq. Bransonlaw PLLC Tel: 407-894-6834 Email: jeff@bransonlaw.com DEPG DINGMANS: Hires Newmark Valuation & Advisory as Appraiser -------------------------------------------------------------- DEPG Dingmans Associates, LLC seeks approval from the U.S. Bankruptcy Court for the Middle District of Pennsylvania to hire Newmark Valuation & Advisory, LLC as appraiser. The firm will appraise the Debtor's property located at Route 739 & Log Tavern Road in Dingmans Ferry, PA. Newmark's compensation is a flat fee of $10,000. Additional court time and preparation will be billed at $500 per hour plus expenses. Newmark does not hold or represent any interest adverse to the estate and is a "disinterested person" as that term is defined in the Bankruptcy Code, according to court filings. The firm can be reached through: Michael Silverman Newmark Valuation & Advisory, LLC 2005 Market Street, Suite 900 Philadelphia, PA 19103 Phone: (215) 587-6002 Email: michael.silverman@nmrk.com About DEPG Dingmans Associates, LLC Creditors Reuther + Bowen, Trans Associates, and Newman + Williams filed an involuntary Chapter 11 petition against DEPG Dingmans Associates, LLC (Bankr. M.D. Pa. Case No. 26-01423) on May 19, 2026. The Hon. Mark J Conway presides over the case. Albert A. Ciardi, III, Esq. at CIARDI CIARDI & ASTIN serves as the Debtor's counsel. DETROIT DUMPSTER: Unsecureds Will Get 100% over 60 Months --------------------------------------------------------- Detroit Dumpster Depot, LLC, filed with the U.S. Bankruptcy Court for the Eastern District of Michigan a Plan of Reorganization dated July 20, 2026. The Debtor is a Michigan limited liability company based in Detroit that provides dumpster rental and waste removal services, including land clearing, rental evictions, and hauling waste to landfills. The company experienced financial difficulties beginning during the COVID-19 pandemic. To expand its business, it obtained several short-term loans, including financing from the U.S. Small Business Association, Premium Home Realty LLC, and equipment lenders. Its financial situation worsened after obtaining a merchant cash advance loan from Simply Loans, LLC. The company was unable to keep up with the high weekly payments, resulting in Simply Loans freezing its bank accounts. At the same time, Premium Home Realty LLC initiated foreclosure proceedings on the company's property at 7120 Intervale, leading to the bankruptcy filing. Since filing for bankruptcy, the debtor has continued operating in the ordinary course of business, with no post-petition transactions outside the ordinary course requiring court approval. To support its reorganization plan, the debtor anticipates: * Selling the property at 18800 Hawthorne, Detroit, Michigan, to help fund payments to unsecured creditors. * Potentially selling the structure at 7120 Intervale to pay secured creditors. Treatment of Unsecured Creditors (Class XII) * Class XII consists of non-priority unsecured claims, including unsecured portions of secured claims and certain claims arising from rejected executory contracts. * The class is impaired. * Creditors are proposed to receive 100% of their allowed claims with 0% interest over 60 months. * Payments will be made during years 3 through 5 of the plan, beginning on the plan's effective date and running concurrently with payments to other classes. * Creditors whose claims are not scheduled or are disputed, contingent, or unliquidated must file a proof of claim by the court-established deadline. Scheduled unsecured creditors must also file a claim to receive distributions. * Allowed unsecured creditors will share monthly distributions of $7,893.76. * Total allowed unsecured claims are $284,175.93. * The sale of the 18800 Hawthorne property is intended to fund these payments. The debtor projects that future business operations and cash flow over the next 60 months will be sufficient to: * Meet obligations to secured creditors. * Fully satisfy obligations to unsecured creditors. * Cover all post-confirmation obligations. The debtor concludes that the reorganization plan is economically feasible and believes it is unlikely that confirmation of the plan will be followed by liquidation or the need for further financial reorganization. The plan is presented as a practical and sustainable method for continuing the business. A full-text copy of the Plan of Reorganization dated July 20, 2026 is available at https://urlcurt.com/u?l=sUyzcE from PacerMonitor.com at no charge. Counsel to the Debtor: C. Jason Cardasis, Esq. B.O.C. Law Group, PC 24100 Woodward Avenue, Suite B Pleasant Ridge, MI 48069 Telephone: (248) 584-2100 Email: bocecf@boclaw.com About Detroit Dumpster Depot Detroit Dumpster Depot, LLC, is a Detroit, Michigan-based company founded in 2018 that provides dumpster rental and non-hazardous waste transportation and disposal services across Michigan. It serves residential, commercial, industrial and construction related customers, and also offers dumpster delivery, pickup a debris removal for clean-outs, board-ups and site cleanup. The company owns and operates rubber wheel dumpster trailers and leases and rents equipment to other contractors. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Mich. Case No. 26-44476) on April 21, 2026, with $0 to $50,000 in assets and $1 million to $10 million in liabilities. Raymond Canty, managing member, signed the petition. Judge Thomas J. Tucker presides over the case. C. Jason Cardasis, at the B.O.C. LAW GROUP, PC, is the Debtor's counsel. DILLING PA: Plan Confirmation Hearing Scheduled for Aug. 26 ----------------------------------------------------------- The U.S. Bankruptcy Court for the Eastern District of Pennsylvania will hold a hearing on August 26, 2026, at 9:30 a.m. before the Honorable Patricia M. Mayer to confirm the Plan of Reorganization of Dilling PA, LLC. A secured creditor that wishes to make an election under Section 1111(b)(2) of the Bankruptcy Code must do so no later than August 19, 2026. August 19, 2026, is the deadline for filing and serving written objections to confirmation of the Debtor's plan of reorganization pursuant to Federal Rules of Bankruptcy Procedure 2002(b) and 3020(b)(1). August 19, 2026, is the deadline for submitting acceptances or rejections of the Debtor's plan of reorganization. As shared by the Troubled Company Reporter, the Debtor has significant income from seasonal jobs. Debtor's slowest months are September, October, April and May. The Debtor believes this proposed Plan of Reorganization is fair and equitable based on the Debtor's projected disposable income and thus, entirely feasible. The Debtor shows pursuant to the projected earnings that it will have enough cash over the life of the Plan to make the required Plan payments and operate the debtor's business. Therefore, the Plan is feasible. The final Plan payment is expected to be paid in 2031. This Plan of Reorganization proposes to pay unsecured creditors and administrative claims from it monthly disposable income. Class 3 consists of Non-priority unsecured creditors. Paid prorate based on Debtor's Monthly Disposable Income. This Class is impaired. The Debtor will fund the Plan from the income from its regular income. A copy of the Court's Order dated July 20, 2026, is available at https://urlcurt.com/u?l=S2yaDL from PacerMonitor.com. About Dilling PA LLC Dilling PA, LLC, an HVAC company, sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Pa. Case No. 26-11548) on April 13, 2026, with up to $50,000 in assets and $100,001 to $500,000 in liabilities. Judge Patricia M. Mayer presides over the case. Maggie S. Soboleski, Esq., is the Debtor's legal counsel. DISCOUNT WAREHOUSES: Gets Extension to Access Cash Collateral ------------------------------------------------------------- Discount Warehouses, LP received another extension from the U.S. Bankruptcy Court for the Eastern District of Michigan to use cash collateral to fund its operations. The court entered a second interim order authorizing the Debtor to use up to $14,290 in cash collateral from July 24 to August 10 based on the approved operating budget. The Debtor is also permitted a budget variance to spend up to $15,000 in cash collateral during the interim period In addition to expenses set forth in the budget, the Debtor is authorized to pay insurance premiums that become due to maintain insurance coverage. To ensure transparency, the Debtor is required to provide weekly budget reconciliation reports to Churchill MRA Funding I, LLC and the Office of the U.S. Trustee. The court scheduled a final hearing for August 10. Discount Warehouses has no alternative source of working capital and requires access to rental income from its apartment complex to operate the property and pay other operating expenses. Its primary asset is the Clio Gardens Apartments, valued at approximately $5.2 million. Creditors that may hold security interests in the cash collateral include Zlur Funding, which has a filed UCC-1 financing statement and is owed $8,518; and Churchill, which is owed approximately $2.84 million under loan documents. About Discount Warehouses LP Discount Warehouses, LP sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Mich. Case No. 26-31510) on June 26, 2026. In the petition signed by Barty Cohen, partner, the Debtor disclosed up to $10 million in both assets and liabilities. Judge Joel D. Applebaum oversees the case. Peter T. Mooney, Esq., at Simen, Figura & Parker, PLC, represents the Debtor as legal counsel. DOW RUMMEL: Fitch Affirms 'BB' IDR, Outlook Stable -------------------------------------------------- Fitch Ratings has assigned a 'BB' rating to $44.6 million series 2026A and $150k taxable series 2026B Health Facilities Revenue Refunding Bonds issued by the City of Sioux Falls, SD on behalf of Dow Rummel Village (Dow Rummel). Fitch has also affirmed Dow Rummel's outstanding revenue bonds and Issuer Default Rating (IDR) at 'BB'. The Rating Outlook is Stable. The bonds are expected to price the week of Aug. 11. Entity/Debt Rating Prior ----------- ------ ----- Dow Rummel Village (SD) LT IDR BB Affirmed BB Dow Rummel Village (SD) /General Revenues/1 LT LT BB Affirmed BB The 'BB' reflects Fitch's expectation of relative balance sheet stability though Fitch's forward-looking scenario analysis. Dow Rummel is characterized by history of sound independent living (ILU) occupancy in a somewhat competitive market. Fitch expects core operating metrics to moderate toward levels more consistent with a midrange operating risk assessment over the next couple of years after softening in FY25. SECURITY The bonds are secured by a pledge of Dow Rummel's gross revenues, a first mortgage lien, and a debt service reserve fund (DSRF). KEY RATING DRIVERS Revenue Defensibility - 'bbb' Strong Occupancy in a Competitive Market Dow Rummel enjoys a history of strong demand despite local competition. Over the last five years, occupancy has averaged above 90% across the continuum of care. ILU occupancy softened in FY26 due to elevated turnover and units temporarily being offline as Dow Rummel converted 15 ILU/ALU units to ILUs in fall of 2025. Management reports the units are back online and being filled. At FYE26 ILU occupancy was approximately 88%. There are several competing senior living facilities in Sioux Falls, but they have not materially affected Dow Rummel's ability to fill its units. This is demonstrated by a history of strong occupancy, a solid waitlist, and regular rate increases. Dow Rummel's weighted average entrance fee is approximately $149,000, which is affordable relative resident net worth. Operating Risk - 'bbb' Softer Operations in FY25; Improvement in FY26 Dow Rummel's core operating metrics softened in FY25, driven by a light year of net entrance fees and lower revenue relative to FY24 due to a one-time Employee Retention Credit (ERC) of $2.9 million recognized. In FY25 operating ratio was 104.6% and net operating margin (NOM) and NOM-adjusted were 3.5% and 5.2%, respectively. Core operations improved in FY26, aided by improved net entrance fees despite higher turnover and continued focus on reducing agency labor. In FY26, operating ratio was 99.5% and NOM and NOM-adjusted were 5.4% and 7.5%, respectively. Fitch expects Dow Rummel's operating metrics to trend toward levels more consistent with a midrange assessment. Capex has been modest since the campus expansion in 2019, averaging 45% of depreciation over the last five years. The average age of plant was 13 years at FYE26. Fitch expects near term capex to be elevated relative to recent spending as focus on facility and technology infrastructure updates and refreshing the campus. Management reports Dow Rummel is in the process of completing strategic planning, which may or may not result in future campus expansion plans. Fitch will incorporate project details into its analysis as plans are finalized. A vast majority of the $44.7 million series 2026 bonds will refund outstanding 2016 and 2017 bonds, and approximately $1 million is included for capex. Fitch expects pro-forma capital-related metrics to remain at the 'Midrange' assessment and projects pro forma MADS of $2.9 million versus the current $3.3 million. In FY26 Dow Rummel's revenue-only MADS coverage was 1.1x and MADS equated 12.7% of revenues. Debt-to-net available cash flow was 10.5x over the last five years. Financial Profile - 'bb' Balance Sheet Improvement in FY26 Dow Rummel carries a relatively high debt load due financing the most recent campus expansion. At FYE25, Dow Rummel had approximately $16 million in unrestricted cash and investments and a $3.5 million debt service reserve fund (DSRF). At FYE26, Dow Rummel's unrestricted cash position grew to $17.6 million in part due to receipt of $2.9 million in ERC funds, translating to 270 DCOH and 48% cash-to-adjusted debt. Dow Rummel did not meet its 1.15x debt service coverage ratio (DSCR) covenant in FY25. DSC was 1.05x per covenant calculations. This did not constitute an event of default per the bond documents as coverage was between 1x-1.15x. In FY26, DSC was approximately 1.3x per covenant calculations. Fitch's forward-looking scenario analysis reflects an operating and investment return cycle. Throughout the scenario, Fitch expects Dow Rummel to maintain key liquidity and leverage metrics that are consistent with a 'bb' financial profile assessment, inclusive of the additional debt and stated capex plans. Asymmetric Additional Risk Considerations No asymmetric risk factors are relevant to the rating. RATING SENSITIVITIES Factors that Could, Individually or Collectively, Lead to Negative Rating Action/Downgrade - Inability to sustain improved operations and coverage metrics, resulting in the compression of Dow Rummel's operating performance or liquidity, or the issuance of additional debt that results in weakened leverage and capital-related ratios; - Inability to meet debt service coverage covenant over the next couple of years. Factors that Could, Individually or Collectively, Lead to Positive Rating Action/Upgrade - Improvement in balance-sheet metrics, with cash-to-adjusted debt sustained above 50%. PROFILE Dow Rummel is a mainly type-C life plan community on 13.2 acres in Sioux Falls, SD. The community consists of 129 ILUs, 49 ALUs, 60 memory care/high acuity ALUs, and a 50-bed SNF. Total revenues were approximately $24.3 million in FY26. Sources of Information In addition to the sources of information identified in Fitch's applicable criteria specified below, this action was informed by data from DIVER by Solve. Climate Vulnerability Signals The results of its Climate.VS screener did not indicate an elevated risk for Dow Rummel Village (SD). 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. EL-BOGHDEDY EXPRESS: Hires Law Offices of Alla Kachan as Counsel ---------------------------------------------------------------- El-Boghdedy Express Cab Corp. seeks approval from the U.S. Bankruptcy Court for the District of New Jersey to hire Law Offices Of Alla Kachan P.C. as attorney. The firm will provide these services: a. assist Debtor in administering this case; b. making such motions or taking such action as may be appropriate or necessary under the Bankruptcy Code; c. represent Debtor in prosecuting adversary proceedings to collect assets of the estate and such other actions as Debtor deem appropriate; d. take such steps as may be necessary for Debtor to marshal and protect the estate's assets; e. negotiate with Debtor's creditors in formulating a plan of reorganization for Debtor in this case; f. draft and prosecute the confirmation of Debtor's plan of reorganization for Debtor in this case; g. render such additional services as Debtor may require in this case. The firm will be paid at these rates: Attorney $550 per hour Clerk's and paraprofessional $250 per hour The firm will be paid a retainer in the amount of $13,000. In addition, the firm will seek reimbursement for its out-of-pocket expenses. Alla Kachan, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Alla Kachan, Esq. Law Offices of Alla Kachan, P.C. 2799 Coney Island Avenue, Suite 202 Brooklyn, NY 11235 Tel: (718) 513-3145 Email: alla@kachanlaw.com About El-Boghdedy Express Cab Corp El-Boghdedy Express Cab Corp filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. D.N.J. Case No. 26-15780) on May 21, 2026, listing $100,001 to $500,000 in both assets and liabilities. Judge John K. Sherwood presides over the case. Alla Kachan, Esq. at Law Offices Of Alla Kachan P.C. serves as the Debtor's counsel. ELITE PRINTING: Second Amended Plan of Reorganization Confirmed --------------------------------------------------------------- Judge Kathy A. Surrat-States of the U.S. Bankruptcy Court for the Eastern District of Missouri confirmed the Second Amended Plan of Reorganization for Elite Printing & Packaging, Inc. dated May 29, 2026. Objections to the confirmation of the Plan were field by the Wells Fargo Bank, N.A. and Kapitus LLC. The Wells Fargo Objection is sustained by consent of the Debtor, and the Kapitus Objection is resolved through a modification of the certain sections of the Plan. With respect to each impaired class of Claims or Interests, each holder of a Claim or Interest of such Class has accepted the Plan, or will received or retain under the Plan on account of such Claim or Interest property or a value, as of the Effective Date of the Plan, that is not less than the amount that such holder would so receive or retain if the Debtor was liquidated under Chapter 7 of the Code. No holder of a Secured Claim has made an election under Code 11 U.S.C. Sec. 1111(b)(2). Accordingly, the Plan satisfies the requirements of 11 U.S.C. Sec. 1129(a)(7). Class 2, Class 3, Class 4, Class 5, Class 6, Class 7, Class 8, Class 10, Class 11, Class 12, Class 13, Class 14 and Class 15 are impaired under 11 U.S.C. §1129. Class 14 voted to accept the Plan. As shared by the Troubled Company Reporter, Elite Printing & Packaging Inc. submitted a First Amended Disclosure Statement describing Plan of Reorganization dated March 9, 2026. The Debtor filed this chapter 11 proceeding to resolve the excess secured debt including multiple merchant cash advance lenders. The Debtor's post-petition business has been strong with existing customers maintaining sales levels and the Debtor securing a large new customer for a related product category not previously offered. The business from the new customer, U.S. Tape, will be operated on a separate equipment line using equipment purchased and owned by U.S. Tape. The new U. S. Tape business has a high margin but the receivables from the new business have a sixty-day turn. Class 14 consists of all Allowed Unsecured Claims of Approved Critical Vendors who were referenced in the Court's Order Authorizing Payment of Pre-Petition Claims of Critical Vendors dated May 28, 2025. The Class 14 Allowed Unsecured Creditors shall receive payment on their remaining unpaid pre-petition claims in twelve equal quarterly installments beginning on the last day of the first full month following the Effective Date. Class 15 consists of all Allowed Unsecured Claims held by any Unsecured Creditor against the Debtor. Each Class 15 Allowed Unsecured Claimant shall receive payment that consists of its pro rata share of $50,000.00 to be distributed no later than sixty days after the Effective Date (the "Class 15 Distributions"). The Debtor shall reserve sufficient funds to pay any Class 15 creditor who has a Claim to which an objection has been filed. The Claim shall be paid in accordance with entry of a final order allowing or disallowing the claim. Class 16 consists of all Allowed Interests in the Debtor. All Class 16 Allowed Interests will (a) be cancelled on the Confirmation Date and (b) receive no Distribution under the Plan. The Plan will be funded with cash on hand, future operating revenue and post-confirmation equity contribution from a new equity holder. The Debtor has secured an agreement with BCDP Partners, LLC, an unrelated third party, for a capital contribution to the Reorganized Debtor in the amount $1,600,000.00 to be paid on the Effective Date in exchange for (45%) of the common stock of the Reorganized Debtor ("Capital Contribution"). On March 4, 2026 the Debtor received interim approval for a secured debtor-in-possession loan in an amount of $700,000.00 from BCDP Partners, LLC ("DIP Loan"). On the Effective Date, the DIP Loan and will be converted to equity on a dollar for dollar basis so the Capital Contribution will extinguish the DIP Loan and the Debtor will receive $900,000.00 in cash. The Capital Contribution cash proceeds will be used as follows: * Payment of Class 3 and Class 15 Claims totaling $300,000.00 as set forth in the Plan; * $600,000.00 operating capital for the Reorganized Debtor. A full-text copy of the First Amended Disclosure Statement dated March 9, 2026 is available at https://urlcurt.com/u?l=3Iowrs from PacerMonitor.com at no charge. A copy of the Court's Order dated July 21, 2026, is available at https://urlcurt.com/u?l=9wEB5V from PacerMonitor.com. About Elite Printing & Packaging Elite Printing & Packaging, Inc., operates a printing, packaging, co-packing and fulfillment business at 1601 Tradeport Drive, Hazelwood, Missouri 63042. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (E.D. Mo. Case No. 25-41743) on May 5, 2025, listing up to $10 million in both assets and liabilities. Michael K. Sloan, president of Elite Printing & Packaging, signed the petition. Judge Kathy A. Surratt-States oversees the case. Spencer Desai, at The Desai Law Firm, is serving as the Debtor's bankruptcy counsel. EMERALD X: S&P Withdraws 'B+' ICR Following Acquisition ------------------------------------------------------- S&P Global Ratings withdrew all its ratings on Emerald X, Inc., including the 'B+' issuer credit rating, which was on CreditWatch with negative implications, upon the completion of the company's acquisition by Apollo Global Management Inc. Concurrent with the closing of the transaction, Emerald X fully repaid all outstanding debt and terminated its existing credit agreement. ENVELOPE 1 INC: Amends Several Secured Claims Pay Details --------------------------------------------------------- Envelope 1, Inc., submitted an Amended Disclosure Statement describing Amended Plan of Reorganization dated July 20, 2026. Envelope 1, Inc. was incorporated in Ohio on November 13, 2012. E1 Digital Direct, Inc. was formed in Ohio on August 27, 2015, merged into Envelope 1, Inc. on November 12, 2025, and the merged company was domesticated in Florida on November 13, 2025. Since the merger, the company has operated in the envelope manufacturing industry, producing custom, made-to-order envelopes for businesses and institutions primarily in North America. The debtor states that no assets or liabilities were transferred as a result of the merger. The company's financial projections are described as conservative and sufficient to support plan payments with minimal growth. The debtor expects continued revenue growth based on its position in the custom envelope market and vendor relationships. As part of its restructuring, the debtor proposes surrendering high-value real property and idle surplus equipment to secured creditors to reduce debt, improve profitability, and continue operating in a smaller, more efficient manufacturing environment while maintaining the ability to pay general unsecured creditors. The plan addresses several secured creditors: * Class 1A Alternative Finance, LLC: Although Alternative Finance did not file a claim, it is listed with a secured claim of $2,250,000 backed by equipment. The parties agreed to settle the claim for $1,069,725, payable in 60 monthly installments of $17,828.75, beginning on the effective date. This class is impaired. * Class 1C U.S. Eagle Federal Credit Union: The debtor disputes the value of certain printing equipment securing U.S. Eagle's claim, asserting that the equipment has little or no value if removed from the associated real property. After accounting for Spectrum's secured interest, the debtor values U.S. Eagle's secured claim at $594,261.60, to be repaid with 6% interest in 60 equal monthly payments beginning on the effective date. * Class 1E Spectrum Commercial Finance, LLC: Spectrum filed a secured claim of $958,738.40 secured by a blanket lien on the debtor's assets, with a first-priority lien on accounts receivable, proceeds, and cash. The debtor is negotiating for Gainshare Equity Group, LLC to acquire Spectrum's loan documents. Under the proposed settlement, Spectrum would receive a $600,000 discounted payoff, consisting of $300,000 due by July 31, 2026, and $300,000 due by September 30, 2026, which would fully satisfy the obligation. Upon receiving these payments, Spectrum would dismiss pending lawsuits in Maryland and Ohio. Class of General Unsecured Claims Class 2A consists of Creditors with allowed claims exceeding $1,500.00. Class 2 A will consist of the one hundred thirty-seven general unsecured creditors. The total amount of Claims in this Class is $8,659,670.91 Each Class 2A creditor will receive an amount equal to 3% of their allowed claim payable in no more than sixty monthly installments from the Effective Date of the plan. Each Class 2A creditor is impaired and entitled to vote. Class 2B consists of Creditors with allowed general unsecured claims which are less than r $1,500.00. Class 2B will consist of the fifty-four general unsecured creditors having filed Claims or having undisputed claims as listed on the Debtor's schedules in an amount that is $1,500.00 or less. Debtor will pay each Class 2B general unsecured creditor 3% of the amount of the creditor's allowed claim 30 days after the Effective Date. Each Class 2B creditor is impaired and entitled to vote. The plan will be funded through the debtor's post-petition business operations, supplemented by capital advances from Envelope 1 Manufacturing, Inc. (E1MI) to purchase production materials such as paper, film, and glue. E1MI will also provide management and operational oversight, including supervision of operating costs, supply chains, and financing needs, at no cost to the debtor until it emerges from Chapter 11. The document states that E1MI’s involvement will not interfere with payments to unsecured creditors. A full-text copy of the Amended Plan dated July 20, 2026 is available at https://urlcurt.com/u?l=M2XwIa from PacerMonitor.com at no charge. Envelope 1 Inc. is represented by: Susan D. Lasky, Esq. 320 S.E. 18th St Ft. Lauderdale, FL 33316 Telephone: (954) 400-7474 E-mail: Sue@SueLasky.com About Envelope 1 Inc. Envelope 1, Inc., manufactures and mails commercial envelopes and their contents. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 25-23400) on Nov. 12, 2025. In the petition signed by Tarry Pidgeon, president, the Debtor disclosed up to $50 million in assets and up to $100 million in liabilities. Susan D. Lasky, at Susan D. Lasky, PA, is the Debtor's legal counsel. ERIE KASH: Gets Final OK to Use Cash Collateral ----------------------------------------------- The U.S. Bankruptcy Court for the Eastern District of Pennsylvania entered a final order authorizing Erie Kash Out Properties, LLC to use cash collateral to fund operations. Under the final order, the Debtor is authorized to use cash collateral in accordance with the approved budget, which includes payment of the Subchapter V trustee's fees. The Debtor may exceed the budgeted disbursements by up to 10% in the aggregate without obtaining further court approval. As adequate protection to secured creditors, the Debtor is required to continue its post-petition contractual mortgage payments using rents generated from mortgaged properties and to continue its regular monthly loan payments. The order preserves those creditors' rights in the event of default or impairment of their collateral. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/99tim from PacerMonitor.com. About Erie Kash Out Properties Erie Kash Out Properties, LLC filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. E.D. Pa. Case No. 25-11729) on May 2, 2025, listing $100,001 to $500,000 in assets and $500,001 to $1 million in liabilities. Judge Ashely M Chan presides over the case. Brad J. Sadek, Esq., at Sadek Law Offices, LLC represents the Debtor as bankruptcy counsel. Holly Miller, Esq., at Gellert Scali Busenkell & Brown, LLC serves as Subchapter V trustee for the Debtor. ETEGRA INC: Plan Confirmation Hearing Scheduled for Sept. 9 ----------------------------------------------------------- Judge Erik P. Kimball of the U.S. Bankruptcy Court for the Southern District of Florida conditionally approved the Amended Disclosure Statement describing Amended Chapter 11 Plan of Etegra, Inc. The Disclosure Statement is conditionally approved as containing adequate information in accordance with section 1125 of the Bankruptcy Code and is subject to final approval of the Court at the Combined Hearing. The Debtor's request for a Combined Hearing on the final approval of the Disclosure Statement and confirmation of the Plan, and the following Confirmation Schedule, are approved: * The Court will conduct the confirmation hearing and consider final approval of the disclosure statement on September 9, 2026 at 2:00 p.m. * August 26, 2026 is the deadline for filing ballots accepting or rejecting the Plan. * August 26, 2026 is the deadline for filing objections to final approval of Disclosure Statement. * August 26, 2026 is the deadline for filing objections to confirmation. In a court filing, the Debtor believes that the Plan of Reorganization provides the best value for the creditors' claims and is in their best interest. Class Four consists of the claim of Texas Comptroller of Public Accounts. The Texas Comptroller of Public Accounts filed a priority claim in the amount of $5,246.91 (Claim #16) for franchise taxes. The Debtor shall pay this claim over twelve months at the statutory rate of interest $455.81 per month. This claim is impaired. Like in the prior iteration of the Plan, the general unsecured claims in Class Four prior to the filing of any objections total the amount of $16,050,469.48, which will be paid over the five-year term of the Plan at the rate of $1,000.00 per month on a pro-rata basis. The payments will commence on the Effective Date of the Plan. The dividend to this class of creditors is subject to change upon the determination of objections to claims. To the extent that the Debtor is successful or unsuccessful in any or all of the proposed Objections, then the dividend and distribution to each individual Class of General Unsecured Claims then the dividend and distribution to each individual creditor will be adjusted accordingly. These claims are impaired. Class Five consists of Equity Holders. There shall be no distribution to the equity holders of ETEGRA, INC. under the confirmed Plan and no dividends to this class of claimants. The Debtor will continue to operate and be managed by Smart Infrastructure Group, LC. The CEO is Achyut Kumar Allady. At the time of the filing of the case, the shareholders were (i) Aditi Allady (80,600 shares), Joseph Carter (400 shares), Sonnie Kishna-Sencerea (300 shares), Thandava Murty (3,000 shares) and Andrew Kishna (15,000). For several years (both pre-petition and postpetition), Joseph Carter, Sonnie Kishna-Sencerea, Thandava Murty and Andrew Kishna have not attended shareholder meetings, contributed to the Debtor's operations, whether monetarily or nonmonetarily, or otherwise remained actively involved in the company. Accordingly, through their actions and failure to be involved in the Debtor's operations, it is deemed that they have forfeited their shares to the active shareholder, Aditi Allady. New share certificates shall be issued accordingly. A full-text copy of the Amended Disclosure Statement dated July 16, 2026 is available at https://urlcurt.com/u?l=MDi66n from PacerMonitor.com at no charge. Etegra Inc. is represented by: Dana Kaplan, Esq. KELLEY KAPLAN DELANEY & ELLER, PLLC 1665 Palm Beach Lakes Blvd., Suite 1000 West Palm Beach, FL 33401 Telephone: (561) 491-1200 Facsimile: (561) 684-3773 A copy of the Court's Order dated July 21, 2026, is available at https://urlcurt.com/u?l=PPcwpk from PacerMonitor.com. About Etegra Inc. Etegra is an architect-engineer firm that provides architecture, engineering, and construction management services primarily for the U.S. Department of Defense and other federal agencies, with additional civil, mechanical, electrical, plumbing, and fire protection engineering work for local public and private clients. Etegra, Inc. filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Fla. Case No. 25-24345) on Dec. 4, 2025, listing $436,230 in assets and $6,765,257 in liabilities. The petition was signed by Achyut Kumar Allady as authorized representative of the Debtor. Judge Erik P Kimball presides over the case. Craig I. Kelley, at KELLY KAPLAN & ELLER, PLLC, is the Debtor's counsel. ETERNO RESORT: Case Summary & 20 Largest Unsecured Creditors ------------------------------------------------------------ Debtor: Eterno Resort Spe, LLC f/k/a Schulman Midtown QOZB LLC 1003 Iron Horse Ct Las Vegas, NV 89106 Business Description: Eterno Resort SPE, LLC, which is developing the project under the Eterno Resort name, is constructing a planned wellness resort in Las Vegas, Nevada. The resort is designed to provide guests with personalized, science-driven longevity programs alongside spa, fitness, and lifestyle offerings. Its concept combines health and wellness services with a hospitality and resort environment. Chapter 11 Petition Date: July 24, 2026 Court: United States Bankruptcy Court District of Nevada Case No.: 26-14670 Judge: Hon. Natalie M Cox Debtor's Counsel: Ryan A. Andersen, Esq. ANDERSEN BEEDE WEISENMILLER 3199 E Warm Springs Road Suite 400 Las Vegas, NV 89120 Tel: (702) 522-1992 E-mail: ryan@abwfirm.com Estimated Assets: $50 million to $100 million Estimated Liabilities: $10 million to $50 million The petition was signed by Robert Schulman as authorized person. A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/CTG2DSA/ETERNO_RESORT_SPE_LLC__nvbke-26-14670__0001.0.pdf?mcid=tGE4TAMA Entity Nature of Claim Claim Amount 1. 90 HWLS Trade Debt $96,000 Attn: Bankruptcy Dept. 5904 Sheridan Street, Suite #100 Amarillo, TX 79119 2. Avroko Design LLC Trade Debt $115,397 Attn: Bankruptcy Dept. 265 Canal Street, 4th Floor New York, NY 10013 3. AXCER, Inc. Trade Debt $30,000 Attn: Bankruptcy Dept. 848 N. Rainbow Blvd. 2806 Las Vegas, NV 89107 4. Bella M. Espiritu Trade Debt $10,000 Attn: Bankruptcy Dept. 3422 Royal Calloway Avenue Las Vegas, NV 89141 5. Castillo & Ruig Communications LLC Trade Debt $59,359 Attn: Bankruptcy Dept. PO Box 341829 Los Angeles, CA 90034 6. Clark County Treasurer Property Tax $51,828 c/o Bankruptcy Clerk 500 S Grand Central Pkwy Box 551220 Las Vegas, NV 89155-1220 7. DRC Surveying NV Trade Debt $70,067 Attn: Bankruptcy Dept. 7080 La Cienega St., Suite 200 Las Vegas, NV 89119 8. Executive Hospitality Partners Trade Debt $112,500 The Meydan Hotel, Grandstand 6th Floor, Meydan Road Nad Al Sheba, Dubai, UAE 9. GOCO China Limited Trade Debt $171,603 Room 1401, 14/F Chung Ying Building 20 Connaught Road West Sheung Wan, Hong Kong SAR 10. Goldratt Research Labs LLC Trade Debt $15,000 Attn: Bankruptcy Dept. 1180 North Town Center Drive #100 Las Vegas, NV 89144 11. Kaempfer Crowell, Ltd. Trade Debt $28,903 Attn: Bankruptcy Dept. 1980 Festival Plaza Drive, Suite 650 Las Vegas, NV 89135 12. Kohn Pedersen Fox Associates PC Trade Debt $180,000 Attn: Bankruptcy Dept. 11 West 42nd Street New York, NY 10036 13. Levine Law Group Trade Debt $11,932 Attn: Bankruptcy Dept. 1671 W. Horizon Ridge Pkway, Suite 230 Henderson, NV 89012 14. Perlman Architects LLC Trade Debt $371,500 Attn: Bankruptcy Dept. 410 S. Rampart Blvd., Ste. 330 Las Vegas, NV 89145 15. Robert Charles Lesser & Co LLC Trade Debt $18,317 Attn: Bankruptcy Dept. 4800 Hampden Lane, Suite 710 Bethesda, MD 20814 16. S&P Real Estate Corp Trade Debt $154,765 300 - 1090 Homer St. Vancouver, BC V6B 2W9 Canada 17. S2 Design Studio Trade Debt $13,500 Attn: Bankruptcy Dept. 2520 St. Rose Parkway, Suite #240 Henderson, NV 89074 18. The Converse Professional Group Trade Debt $17,505 Attn: Bankruptcy Dept. 6610 W. Arby Ave., Suite 104 Las Vegas, NV 89118 19. Walker Consultants Trade Debt $17,800 Attn: Bankruptcy Dept. 3133 W. Frye Road, Suite 101 PMB#1164 Chandler, AZ 85226 20. WDG Limited Trade Debt $13,750 Attn: Bankruptcy Dept. 7345 S. Durango #B107-339 Las Vegas, NV 89113 FALLS OF PARRAMATTA: CRO Hires Epps & Coulson LLP as Counsel ------------------------------------------------------------ R & K Interests, Inc. and Robert C. Warren III, in their capacities as the property manager and CRO, respectively, of Falls of Parramatta, LP and Falls of Town Park, LP, seek approval from the U.S. Bankruptcy Court for the Southern District of Texas to hire Epps & Coulson, LLP as their counsel. The firm will advise the applicants regarding: (a) the scope and performance of their duties under their engagements and the orders of this Court, including the Cash Collateral Orders and the Debtors' cash-management orders; (b) the transition of management of the Properties from the prepetition property manager, including enforcement of the Property Manager Order's turnover and cooperation directives and any disputes concerning books, records, deposits, accounts, or transition cooperation; (c) landlord-tenant, fair-housing, regulatory, code-compliance, vendor, employment, and insurance matters arising at the Properties; (d) reporting obligations to the Court, the United States Trustee, and the secured lenders; (e) the preparation of declarations, testimony, and court appearances by Mr. Warren and IPS personnel; and (f) any matters as to which the interests of the Applicants, as estate fiduciaries, require independent advice. The firm's current standard hourly rates are: Dawn M. Coulson, Managing Partner $700 Gabriel M. Courey, Partner $610 Of Counsel $450 to $650 Associates/Contract Attorneys $325 to $575 Paraprofessionals $185 to $300 Dawn M. Coulson, managing partner of Epps & Coulson, LLP, assured the court that the firm is a "disinterested person" within the meaning of 11 U.S.C. Sec. 101(14). The firm can be reached through: Dawn M. Coulson, Esq. EPPS & COULSON, LLP 1230 Crenshaw Boulevard, Suite 200 Torrance, CA 90501 Telephone: (213) 929-2390 Facsimile: (213) 929-2394 Email: dawn@eppscoulson.com About Falls of Parramatta LP Falls of Parramatta, LP own and manage two apartment communities. Falls of Parramatta and Falls of Town Park, LP sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Texas Lead Case No. 26-90598) on June 2, 2026. At the time of the filing, the Debtors reported between $10 million and $50 million in both assets and liabilities. Judge Alfredo R. Perez oversees the cases. Susan Tran Adams, Esq., at Tran Singh, LLP, represents the Debtors as legal counsel. FAMILY DOLLAR: Fitch Rates $450MM Secured Bond 'BB+' ---------------------------------------------------- Fitch Ratings has assigned a 'BB+' rating with a Recovery Rating of 'RR2' to the $450 million secured bond proposed by Family Dollar Stores, LLC, a subsidiary of 1959 Holdings, LLC (together Family Dollar). Proceeds from this bond and $700 million of other new debt will be used to refinance the company's existing $800 million of debt and pay a $320 million shareholder dividend. Family Dollar's BB-/Stable ratings reflect the company's competitive position in the dollar store segment and positive FCF. Following the proposed dividend, Fitch expects Family Dollar's 2026 EBITDAR leverage to be about 3.1x on about $600 million of EBITDA. This forecast reflects significant upside from recent underperformance, but the company's turnaround plan has some execution risk. The rating considers the company's modest scale relative to massive general merchants, negligible e-commerce presence, modest comparable store sales (comps) forecast, and capital structure actions which support shareholder returns over deleveraging. Key Rating Drivers Dollar Tree Separation: Family Dollar is the third-largest U.S. dollar store chain behind Dollar General Corporation (Dollar General) and Dollar Tree, Inc. (Dollar Tree). It separated from its prior parent Dollar Tree in July 2025 following a challenging 10-year ownership period which saw multiple shifts in operating strategy as the two businesses integrated. During that period, Family Dollar's revenue growth significantly lagged Dollar Tree, Dollar General and general merchandise peers. Per the company, EBITDA essentially halved to $400 million in 2024 from pre-acquisition 2014 despite about 20% revenue growth during that time to $12.8 billion. Per new owners Macellum Capital Management and Brigade Capital Management, EBITDA margin declines were the result of supply chain complexity and changes in merchandising strategies. These shifts caused excess and unwanted inventory that required aggressive markdowns to clear. Consequently, gross margins declined over 600bps from 2014 to 2024, yielding EBITDA margins declining to about 3.1% from about 7.3% prior to the acquisition. EBITDA Margin Potential: The company's new owners see an opportunity to expand EBITDA margins toward 8% by 2030 from the 3% recorded in 2024, which would more than double EBITDA from pre-acquisition levels. Improvements are focused on gross margins, where the company has identified opportunities to reduce inventory breadth and streamline supply chain. The company targets additional opportunities to improve results, including investing in its digital presence and sharpening its pricing position. The company has seen some early signs of success, with 100bps of EBITDA margin improvement in 2025 including actioned but unrealized cost savings. Fitch projects EBITDA margins could be around 5% in 2026 as the company continues to benefit from cost reduction, with EBITDA settling in the low-5% range thereafter. Assuming flattish revenue around $12.7 billion, this would generate EBITDA in the low-$600 million range in 2026 and in the mid-$600 million range by 2028. Somewhat Defensible Sector: Dollar stores have remained somewhat resilient in the face of growth in competing sectors like discount superstores and warehouse clubs and shifts in consumer spending to omnichannel models. The dollar store's low-price position, low average ticket and focus on purchase immediacy create somewhat of a competitive moat against other channels. However, leading general merchants are evolving their models and improving value propositions, including sharper pricing and omnichannel features like expanding inventory collection options with faster fulfillment windows. These initiatives may increase competitive headwinds for dollar stores. Limited Long-Term Growth: Fitch expects limited revenue growth in the medium term with annual comps near 1% and a stagnant store count near 6,950 after about 200 net closures in 2026. The low growth reflects Fitch's view of increasing competition from behemoth general merchants and industry absorption of significant square footage growth from industry leader Dollar General Corporation and Dollar Tree. Together, they added about 13,000 stores over the past decade, leading to about 37,000 stores for the top three players. Family Dollar's negligible e-commerce exposure will restrict growth as Fitch expects e-commerce penetration to continue expanding. Dividend Recapitalization: The company has proposed a dividend recapitalization whereby $1.15 billion of new debt will be used to repay Family Dollar's existing $800 million of debt and fund a $320 million dividend to the financial sponsors. The sponsors have not contributed equity and have already taken a $100 million dividend this year, so the net outflow to sponsors will be roughly $420 million following this transaction. The company's willingness to use FCF and debt proceeds to support shareholder returns over deleveraging during the early stages of the company's turnaround phase is a constraint to the rating. Positive FCF: Fitch projects Family Dollar will generate annual FCF near $140 million beginning 2027, assuming EBITDA trending toward the mid-$600 million range, roughly $90 million in cash interest expense and $100 million in cash taxes, and about $290 million in annual capex. FCF after dividends in 2026 could be an outflow in the $400 million range, assuming about $420 million in sponsor dividends and heightened restructuring charges as the company implements its cost reduction actions. FCF could be used for strategic initiatives or further sponsor dividends. Fitch assumes no debt prepayment aside from required amortization. Reasonable Leverage; Weak Coverage: Fitch projects EBITDAR leverage will trend in the 3.0x-3.5x range beginning 2026, given its EBITDA assumptions and $1.15 billion of debt. While leverage is reasonable for the rating, Family Dollar's EBITDAR fixed charge coverage is weak, in the mid-1x range. The company's rent base of nearly $900 million well exceeds its EBITDA generation, pressuring its coverage of fixed obligations Peer Analysis Fitch-rated general merchandisers include Walmart Inc. (AA/Stable) andAmazon.com, Inc. (AA-/Stable). Ratings for these retailers reflect their massive scale, fundamental competitive advantages, consistent share gains and EBITDA growth with leverage expected to be lower than that of Family Dollar. Regional grocery retailer Northeast Grocery, Inc. (B+/Stable) is rated one notch below Family Dollar given modestly higher EBITDAR leverage in the low-4x range and its smaller, more regionally concentrated business profile. A similarly rated retailer within Fitch's coverage is Wayfair Inc. (BB-/Stable), whose ratings reflect the company's strong historical growth, recent focus on EBITDA margin improvement, and debt reduction which have together led to EBITDAR leverage improving in recent years to below 4x. Fitch’s Key Rating-Case Assumptions - Fitch projects Family Dollar's revenue to grow 1% longer term, on modestly positive comps and flattish store count. Revenue in 2026 could be down 2% to 3% to $12.7 billion as the company completes about 200 store closures, with 2028 modestly down as these closures annualize; - EBITDA could improve from trough levels around $400 million in 2024 to the low-$600 million range in 2026 and to mid-$600 million by 2028 despite a stagnant topline as the company executes cost reduction efforts. Margins could improve from trough levels near 3% to the high-4% range in 2026 and the low-5% range thereafter; - FCF beginning 2027 could be around $140 million, assuming about $90 million of cash interest expense and $100 million of cash taxes and close to $300 million of annual capex. FCF could be used for strategic alternatives or shareholder remuneration. Fitch does not expect proactive debt paydown beyond required annual amortization on the new term loan; - EBITDAR leverage is expected to trend in the low-3x beginning 2026 given Fitch's operating assumptions and $1.15 billion of debt. EBITDAR fixed charge coverage could sustain near 1.5x; - Family Dollar's interest rates are calculated on a SOFR base and Fitch assumes a SOFR base rate of 3.5% over the forecast period. Corporate Rating Tool Inputs and Scores Fitch scored the issuer as follows, using its Corporate Rating Tool (CRT) to produce the Standalone Credit Profile (SCP): Business and financial profile factors (assessment, relative importance): management ('bb', Moderate), sector characteristics ('bb', Moderate), market and competitive positioning ('bb+', Lower), diversification and asset quality ('b+', Higher), company operational characteristics ('bb', Moderate), profitability ('b+', Moderate), financial structure ('bbb', Moderate), and financial flexibility ('bb-', Moderate). The quantitative financial subfactors are based on custom CRT financial period parameters: 20% weight for the forecast year 2026, 40% for the forecast year 2027 and 40% for the forecast year 2028. The governance assessment of 'good' has no impact. The operating environment assessment of 'aa-' has no impact. The SCP is 'bb-'. To derive the Long-Term IDR: Fitch made no adjustments to the SCP, resulting in an IDR of 'BB-'. Recovery Analysis Fitch does not employ a waterfall recovery analysis for issuers assigned ratings in the 'BB' category. The further up the speculative grade continuum a rating moves, the more compressed the notching between the specific classes of issuances becomes. Fitch rates Family Dollar's proposed secured ABL facility at 'BB+'/'RR1', indicating outstanding recovery prospects. Family Dollar's proposed term loan and proposed notes are rated 'BB+'/'RR2', indicating average recovery prospects. RATING SENSITIVITIES Factors that Could, Individually or Collectively, Lead to Negative Rating Action/Downgrade - A downgrade could result from weaker-than-expected operating results and/or capital structure actions, including debt-financed sponsor dividends, which results in EBITDAR leverage trending above 3.5x and EBITDAR fixed charge coverage to low-1x. Factors that Could, Individually or Collectively, Lead to Positive Rating Action/Upgrade - An upgrade could result from EBITDA growth alongside debt reduction that causes EBITDAR leverage to trend under 3x with EBITDAR fixed-charge coverage trending toward 2x. Liquidity and Debt Structure As of Jan. 31, 2026, Family Dollar's liquidity included $360 million of cash and $1.1 billion of availability on its $1.4 billion ABL, net of $300 million in outstanding borrowings and about $100 million in letters of credit. Aside from ABL borrowings, the company's capital structure as of that date included $400 million in FILO term loans due July 2030. The company is proposing a dividend recapitalization whereby $1.15 billion of new debt would repay the company's existing $800 million of debt and fund a $320 million dividend to the company's financial sponsors. The transaction includes a $300 million draw on a new five-year $1.4 billion ABL which will replace the existing ABL, $400 million of five-year term loans and $450 million of five-year secured notes. The ABL, which is issued by Family Dollar Stores, LLC, is governed by a borrowing base including inventory and receivables. The term loan and notes, which are pari passu, will have a second lien on ABL assets and a first lien on remaining company assets. Issuer Profile Family Dollar is a leading U.S. value retailer with nearly $13 billion in sales across about 7,200 stores, primarily located in the eastern half of the country. Summary of Financial Adjustments Fitch adjusted historical and projected EBITDA to add back non-cash stock-based compensation and exclude non-recurring charges. Fitch uses the balance sheet reported lease liability as the capitalized lease value when computing lease-equivalent debt. Date of Relevant Committee 01 July 2026 MACROECONOMIC ASSUMPTIONS AND SECTOR FORECASTS Fitch's latest quarterly Global Corporates Sector Forecasts Monitor data file which aggregates key data points used in its credit analysis. Fitch's macroeconomic forecasts, commodity price assumptions, default rate forecasts, sector key performance indicators and sector-level forecasts are among the data items included. Climate Vulnerability Signals The results of its Climate.VS screener did not indicate an elevated risk for 1959 Holdings, LLC. ESG Considerations The highest level of ESG credit relevance is a score of '3', unless otherwise disclosed in this section. A score of '3' means ESG issues are credit-neutral or have only a minimal credit impact on the entity, either due to their nature or the way in which they are being managed by the entity. Fitch's ESG Relevance Scores are not inputs in the rating process; they are an observation on the relevance and materiality of ESG factors in the rating decision. Entity/Debt Rating Recovery ----------- ------ -------- Family Dollar Stores, LLC senior secured LT BB+ New Rating RR2 FIRST BRANDS: Seeks to Extend Plan Exclusivity to Sept. 21 ---------------------------------------------------------- First Brands Group, LLC and affiliates asked the U.S. Bankruptcy Court for the Southern District of Texas to extend their exclusivity periods to file a plan of reorganization and obtain acceptance thereof to Sept. 21 and Nov. 20, 2026, respectively. The Debtors explain that the size and complexity of the Debtors' businesses and the complexity of these chapter 11 cases also support an extension of the Exclusive Periods. These chapter 11 cases undoubtedly meet this standard. The Debtors are comprised of 112 entities whose prepetition businesses included a global network of manufacturing and distribution centers that spanned 5 continents and employed 26,000 individuals globally. This is the Debtors' third request to extend the Exclusive Periods. The request comes ten months into these chapter 11 cases, which is eight months less than the maximum amount of time prescribed by the Bankruptcy Code for the Exclusive Filing Period and ten months less than the maximum amount of time prescribed by the Bankruptcy Code for the Exclusive Solicitation Period. The Debtors assert that an extension of the Exclusive Periods will not prejudice any of the Debtors' stakeholders. On the contrary, a short extension will enable the Debtors to move forward with confirmation of the Joint Plan supported by key stakeholder groups without the distraction and expense of competing plans. The Joint Plan is supported by the Ad Hoc Group, the ABL Lenders, and the Creditors' Committee, and the Debtors' relationship with their key economic stakeholders has been transparent, cooperative, and constructive throughout these chapter 11 cases. The Debtors further assert that they have held numerous meetings and negotiation sessions with these creditor constituencies to discuss virtually every issue in these cases, including DIP financing, the sale process, and case resolution, among other discrete issues. The request for extending the Exclusive Periods is not a negotiation tactic, but rather reflects that the Debtors require a short additional period to prosecute the Joint Plan through confirmation. Indeed, the request is a precautionary measure, sought out of an abundance of caution given the imminence of the Combined Hearing. The Debtors submit that "cause" exists to further extend the Exclusive Periods and respectfully request that the Court grant the relief requested herein. To terminate exclusivity now and allow for a competing plan process at this juncture in these chapter 11 cases would jeopardize or otherwise undermine the Debtors' efforts to date and adversely impact their ability to achieve confirmation of a chapter 11 plan. Thus, the Debtors believe that an extension of the Exclusive Periods is in the best interest of the Debtors and their creditors. The Debtors' Counsel: Clifford W. Carlson, Esq. Gabriel A. Morgan, Esq. WEIL, GOTSHAL & MANGES LLP 700 Louisiana Street, Suite 3700 Houston, Texas 77002 Tel: (713) 546-5000 Fax: (713) 224-9511 Email: clifford.carlson@weil.com gabe.morgan@weil.com - and - Matthew S. Barr, Esq. Sunny Singh, Esq. Andriana Georgallas, Esq. Kevin Bostel, Esq. Jason H. George, Esq. WEIL, GOTSHAL & MANGES LLP 767 Fifth Avenue New York, New York 10153 Tel: (212) 310-8000 Fax: (212) 310-8007 Email: matt.barr@weil.com sunny.singh@weil.com andriana.georgallas@weil.com kevin.bostel@weil.com jason.george@weil.com About First Brands Group First Brands Group, LLC, is a global supplier of aftermarket automotive parts, based in Rochester Hills, Michigan. On September 24, 2025, the Company's non-operational special purpose entities, Global Assets LLC, Global Lease Assets Holdings, LLC, Carnaby Capital Holdings, LLC, Broad Street Financial Holdings, LLC, Broad Street Financial, LLC, Carnaby Inventory II, LLC, Carnaby Inventory Holdings II, LLC, Carnaby Inventory III, LLC, Carnaby Inventory Holdings III, LLC, Patterson Inventory, LLC, Patterson Inventory Holdings, LLC, Starlight Inventory I, LLC and Starlight Inventory Holdings I, LLC each filed a voluntary petition for relief under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of Texas. Commencing on Sept. 28, 2025, First Brands Group, LLC and 98 affiliated debtors each filed a voluntary petition for relief under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of Texas. In its petition, First Brands Group listed $1 billion to $10 billion in estimated assets and $10 billion to $50 billion in estimated liabilities. The cases are pending before the Hon. Christopher M. Lopez, and are jointly administered under Case No. 25-90399, and consolidated for procedural purposes only. The Debtors tapped Weil, Gotshal and Manges, LLP as legal counsel; Lazard Freres & Co. as investment banker; Alvarez & Marsal North America, LLC as financial advisor; and C Street Advisory Group as strategic communications advisor. Kroll Restructuring Administration, LLC is the Debtors' claims, noticing and solicitation agent. Gibson, Dunn & Crutcher, LLP and Evercore serve as the Ad Hoc Group of Lenders' legal counsel and investment banker, respectively. The U.S. Trustee for Region 7 appointed an official committee to represent unsecured creditors in the Debtors' Chapter 11 cases. The Committee has hired M3 Advisory Partners, LP, as Financial Advisor; Cole Schotz P.C. as Efficiency and Local Counsel; and Brown Rudnick LLP as Co-Counsel. The U.S. Trustee has proposed Martin De Luca, Esq., at Boies Schiller Flexner LLP as Chapter 11 examiner. FLORIDA KEYS: Gets Extension to Access Cash Collateral ------------------------------------------------------ Florida Keys Lobster House, Inc. received second interim approval from the U.S. Bankruptcy Court for the Southern District of Florida to use cash collateral through September 16. Under the second interim order, the Debtor is authorized to use cash collateral based on the court-approved budget, subject to a 10% variance per line items. As adequate protection, the Debtor is required to continue its monthly payments of $3,000 to JPMorgan Chase Bank, N.A. until confirmation of its Chapter 11 plan or further court order. JPMorgan and other secured creditors will also receive replacement liens on post-petition cash collateral to the extent of any actual diminution in the value of their pre-petition collateral. The order preserves all parties' rights to challenge the validity, priority, or extent of any asserted liens. The order requires all post-petition receipts to be deposited into the debtor-in-possession account and used only as authorized by the approved budget. It also provides for a carveout for statutory fees owed to the Clerk of Court and the Office of the U.S. Trustee. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/55aep from PacerMonitor.com. The next hearing is scheduled for September 16. About Florida Keys Lobster House Inc. Florida Keys Lobster House, Inc. is a hospitality company engaged in restaurant operations, specializing in seafood dining and related food service offerings. Florida Keys Lobster House sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-14233) on April 3, 2026, with assets of up to $50,000 and liabilities of between $1 million and $10 million. Judge Laurel M. Isicoff oversees the case. The Debtor tapped Chad Van Horn, Esq., at Van Horn Law Group, PA as bankruptcy counsel and Bishop, Rosasco & Co. as accountant. FORDHAM LANDING: Taps Goldberg Weprin Finkel as Bankruptcy Counsel ------------------------------------------------------------------ Fordham Landing Preferred Sponsor LLC and its affiliates seek approval from the U.S. Bankruptcy Court for the Southern District of New York to hire Goldberg Weprin Finkel Goldstein LLP as their bankruptcy counsel. The firm will render these services: (a) provide the Debtor with all necessary representation in connection with this Chapter 11 case, as well as its responsibilities; (b) represent the Debtor in all proceedings before the U.S. Bankruptcy Court and the Office of the U.S. Trustee; (c) review, prepare and file all necessary legal papers on the Debtor's behalf; and (d) render all other legal services required by the Debtor in addressing the claims of the creditors, and refinancing of the properties to fund a plan of reorganization. The firm will be paid at these hourly rates: Partner $685 - $865 Associate $275 - $620 In addition, the firm will seek reimbursement for expenses incurred. Prior to the Chapter 11 filing, the firm received a pre-petition retainer of $20,000 from Rita's Boy OZ Holding LLC, including filing fees for each Debtor. Kevin J. Nash, Esq., an attorney at Goldberg Weprin Finkel Goldstein, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: J. Ted Donovan, Esq. Kevin J. Nash, Esq. Goldberg Weprin Finkel Goldstein LLP 125 Park Avenue, 12th Floor New York, NY 10017 Telephone: (212) 221-5700 Email: knash@gwfglaw.com tdonovan@gwfglaw.com About Fordham Landing Preferred Sponsor Fordham Landing Preferred Sponsor LLC and Fordham Landing Preferred LLC own DS Fordham 2, DS Fordham 4, and MDBZJGGS LLC, which hold development properties in the Bronx, New York. The three sites, collectively known as Fordham Landing North, cover more than 14 acres and are being developed as the city's largest affordable housing project in recent decades. The companies have spent years securing DEC approvals and are pursuing rezoning to allow construction of roughly 4,000 affordable units. Fordham Landing Preferred Sponsor LLC and its affiliates concurrently filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code (Bankr. S.D.N.Y. Lead Case No. 26-22259) on March 16, 2026. Each Debtor's estimated assets range from $50 million to $100 million and each Debtor's estimated liabilities range from $50 million to $100 million. Gary Segal signed the petitions for DS Fordham Landing 2 LLC, DS Fordham Landing 4 LLC, Fordham Landing Preferred LLC, Fordham Landing Preferred Sponsor LLC, and MDBZJGGS LLC. Kevin Nash, Esq. at Goldberg Weprin Finkel Goldstein LLP serves as their counsel. FORTUNA STONEWORKS: Court Extends Cash Collateral Access to Aug. 12 ------------------------------------------------------------------- Fortuna Stoneworks, LLC received another extension from the U.S. Bankruptcy Court for the District of Georgia, to use cash collateral. The court entered a fourth interim order authorizing the Debtor to use cash collateral through the final hearing, subject to the approved four-week budget. The Debtor is not allowed to exceed any budgeted expense line item by more than 10% without obtaining written consent from the lenders and the U.S. Trustee or further court approval. The Debtor's cash collateral consists of revenue from its operations that may be subject to pre-petition liens held by lenders including First Bank of the Lake, Celtic Bank, BizFund, LLC, Cromwell Capital, LLC, and Stage Advance. Based on currently available information, the Debtor believes First Bank of the Lake holds the first-priority lien position due to the oldest UCC-1 financing statement. Lenders holding valid pre-petition liens will be granted adequate protection through valid and properly perfected replacement liens on all post-petition property of the Debtor similar to their pre-petition collateral. These replacement liens do not apply to proceeds from Chapter 5 avoidance actions. The order required the Debtor to make monthly deposits of $1,000 to the Subchapter V trustee. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/OXxoL from PacerMonitor.com. A final hearing is scheduled for August 12. About Fortuna Stoneworks LLC Fortuna Stoneworks, LLC is a stone fabrication and installation company serving East Tennessee, North Alabama, and North Georgia. Fortuna Stoneworks filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. N.D. Ga. Case No. 26-40736) on May 4, 2026. In the petition signed by Partha Chakraborty, manager, the Debtor disclosed up to $10 million in both assets and liabilities. Judge Paul W. Bonapfel oversees the case. Will Geer, Esq., at Rountree, Leitman, Klein & Geer, LLC, represents the Debtor as legal counsel. The U.S. Trustee for Region 21 appointed Todd Hennings, Esq., at Macey, Wilensky & Hennings, LLP as Subchapter V trustee for Fortuna Stoneworks, LLC. FRANKIE MARTIN: Case Summary & Two Unsecured Creditors ------------------------------------------------------ Debtor: Frankie Martin Investments LLC 2700 NW Federal Hwy Stuart, FL 34994 Business Description: Frankie Martin Investments LLC is a single- asset real estate company, as defined in Section 101(51B) of the U.S. Bankruptcy Code. Chapter 11 Petition Date: July 29, 2026 Court: United States Bankruptcy Court Middle District of Florida Case No.: 26-06639 Judge: Hon. Luis Ernesto Rivera II Debtor's Counsel: Pierce J. Guard, Jr., Esq. THE GUARD LAW GROUP, PLLC 2511 Orleans Avenue Lakeland, FL 33803 Tel: 863-619-7331 E-mail: jguardjr@aol.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Samantha Howard as managing 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/IJ73EQY/Frankie_Martin_Investments_LLC__flmbke-26-06639__0001.0.pdf?mcid=tGE4TAMA FREEDOM FOREVER: Hires Robert Pincus as Independent Consultant -------------------------------------------------------------- Freedom Forever LLC and its affiliates seek approval from the U.S. Bankruptcy Court for the District of Delaware to retain Robert Pincus, a professional doing business in Delaware, as their independent consultant. Mr. Pincus shall have sole and absolute decision-making authority to evaluate, oversee, and approve (or not approve) a potential sale of all, substantially all or part of the assets of the Debtors, including: a. manage the marketing of the Proposed Transaction; b. review, evaluate and negotiate the terms and conditions of a Proposed Transaction; and c. determine whether the Debtors should enter into one or more proposed Transaction(s). The Debtors desire to retain Mr. Pincus at a rate of $1,000 per hour. As disclosed in the court filings, Mr. Pincus is a "disinterested person" within the meaning of section 101(14) of the Bankruptcy Code. The firm can be reached through: Robert Pincus P.O. Box Wilmington, DE 19807 About Freedom Forever LLC Freedom Forever LLC is a Temecula, California-based residential solar installation company that serves homeowners in more than 30 states. It operates as an engineering, procurement and construction platform, providing solar panel installation, energy storage and financing services through employees and independent authorized dealers. The company also offers proprietary software that supports project visibility, permitting and customer transparency. Freedom Forever LLC sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Del. Case No. 26-10522) on April 15, 2026. At the time of the filing, Freedom Forever had estimated assets of between $100,000,001 to $500 million and liabilities of between $500,000,001 to $1 billion. Judge Brendan Linehan Shannon oversees the case. The Debtors tapped Morris, Nichols, Arsht & Tunnell LLP as bankruptcy counsel; Holland & Hart LLP and Landis Rath & Cobb LLP as special counsel; and Berkeley Research Group, LLC as financial advisor. Kroll Restructuring Administration LLC is the Debtors' administrative advisor. FUEL GROUP: Hires DeMarco Mitchell PLLC as Bankruptcy Counsel ------------------------------------------------------------- Fuel Group Trading LLC seeks approval from the U.S. Bankruptcy Court for the Western District of Texas to hire DeMarco Mitchell, PLLC as counsel. The firm will provide these services: (a) take all necessary action to protect and preserve the Estate, including the prosecution of actions on its behalf, the defense of any actions commenced against it, negotiations concerning all litigation in which it is involved, and objecting to claims; (b) prepare all necessary motions, applications, answers, orders, reports, and papers in connection with the administration of the estate; (c) formulate, negotiate, and propose a plan of reorganization; and (d) perform all other necessary legal services in connection with these proceedings. The firm will be compensated on an hourly basis for actual and necessary services rendered, together with reimbursement of actual and necessary expenses. Current hourly rates are $500 for Robert T. DeMarco, $300 for Michael S. Mitchell, and $125 for paralegal Barbara Drake, plus reimbursement of actual and necessary expenses. The firm received a retainer in the amount of $20,000. DeMarco Mitchell, 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: 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 Fuel Group Trading LLC Fuel Group Trading LLC is a petroleum and petroleum products merchant wholesaler headquartered in Round Rock, Texas. The company supplies motor gasoline, diesel fuel, and related petroleum products, with operations in Plano, Texas, and San Juan, Puerto Rico. The company sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Tex. Case No. 26-11308) on July 8, 2026. Its bankruptcy petition lists estimated assets of $500,000 to $1 million and estimated liabilities of $100,000 to $500,000. The debtor is represented by Robert T. DeMarco III, Esq., of DeMarco Mitchell PLLC. FUTURE LEGENDS 5: Voluntary Chapter 11 Case Summary --------------------------------------------------- Debtor: Future Legends 5, LLC 4558 Sherman Oaks Ave Sherman Oaks CA Business Description: Future Legends 5, LLC is an affiliate of Future Legends, LLC that owns an indoor sports dome and adjoining clubhouse at the Future Legends sports and entertainment complex in Windsor, Colorado. Chapter 11 Petition Date: July 28, 2026 Court: United States Bankruptcy Court Central District of California Case No.: 26-11618 Judge: Hon. Victoria S Kaufman Debtor's Counsel: Jeff Katofsky, Esq. KATOFSKY LAW 4558 Sherman Oaks Ave Sherman Oaks Tel: 818-990-1475 E-mail: jeff@katofskylaw.com Estimated Assets: $50 million to $100 million Estimated Liabilities: $10 million to $50 million The petition was signed by Jeff Katofsky as managing member. The Debtor has declared in the petition that it has no unsecured creditors. A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/FUTQV7Y/Future_Legends_5_LLC__cacbke-26-11618__0001.0.pdf?mcid=tGE4TAMA GLG INVESTMENTS: Hires Trustee Realty as Real Estate Broker ----------------------------------------------------------- GLG Investments, LLC and its affiliates seek approval from the U.S. Bankruptcy Court for the Southern District of Florida to employ Jason A. Welt and Trustee Realty, Inc. as their real estate broker. The broker will market and sell the Debtors' principal assets, approximately 941 parcels of real property. The Broker is entitled to a commission of 2.5% of the gross sale price. Where no buyer's broker is involved, the Broker will seek only that 2.5% fee. Where a buyer's broker is involved, buyer-broker compensation of up to one and 1.5% of the purchase price. Jason A. Welt, agent with Trustee Realty Inc., assured the court that his firm is a "disinterested person" within the meaning of 11 U.S.C. 101(14). The firm can be reached through: Jason A. Welt Trustee Realty Inc. 2200 N Commerce Pkwy Suite# 200 Weston, FL 33326 Phone: (954) 803-0790 About GLG Investments LLC GLG Investments, LLC, GL3, LLC, GL7, LLC, and GL16, LLC owned and operated a portfolio of residential real estate properties that generate rental income and served as their primary assets prior to the receivership proceedings. A number of the properties participate in the Housing Choice Voucher Program, under which a public housing authority pays a portion of tenant rent directly. GLG Investments and affiliates sought protection under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Fla. Case No. 26-16159) on May 13, 2026. At the time of the filing, the Debtors had estimated assets of between $100,001 and $500,000 and liabilities of between $100,001 and $500,000. Judge Laurel M. Isicoff oversees the case. Agentis PLLC is Debtors' legal counsel. On June 8, 2026, the Office of the U.S. Trustee appointed an official committee of unsecured creditors appointed in these Chapter 11 cases. The committee tapped Sardi Law, PLLC as counsel. GOLDEN STATE: Moody's Affirms 'B3' CFR, Outlook Remains Stable -------------------------------------------------------------- Moody's Ratings affirmed Golden State Foods LLC's ("Golden State Foods") B3 Corporate Family Rating and B3-PD Probability of Default Rating. Moody's also affirmed the B3 rating on the company's senior secured first lien revolving credit facility and senior secured first lien term loan B. The outlook remains stable. Golden State Foods is proposing a $100 million fungible add-on to its existing senior secured first lien term loan B due 2031. Proceeds from the add-on, together with cash on hand, will be used to fund a $125 million dividend distribution. The transaction is credit negative because it increases debt to EBITDA leverage by about a 1/3 of a turn to approximately 6x (pro-forma Moody's-adjusted) from 5.5x as of the last-twelve-month (LTM) period ended April 04, 2026. In addition, the add-on also increases the company's interest expense. Nonetheless, Moody's affirmed the B3 CFR and maintained a stable outlook, reflecting Moody's expectations that leverage will decline to approximately 5.5x over the next 12–18 months, supported by low- to mid-single-digit EBITDA growth driven by low -single-digit revenue growth and procurement savings. The rating affirmation also reflects Golden State Foods' good liquidity which is supported by available cash of $55 million as of June 30, 2026, pro-forma for the $100 million fungible term loan add-on, an undrawn $225 million revolving credit facility expiring in 2029, Moody's expectations of approximately $100 million of free cash flow in 2027, and no meaningful maturities through 2028. RATINGS RATIONALE Golden State Foods' B3 CFR reflects the company's long-standing and very strong relationships with large, limited service restaurants, its diverse product and service offerings, and geographic diversification within the US. It also reflects the company's high leverage, and aggressive financial policy as evidenced by the planned debt funded distribution to shareholders. Moody's expects that the company will generate approximately $100 million of free cash flow in 2027, and maintain good liquidity. Credit risks include the company's exposure to the more discretionary food consumed out-of-home industry, high financial leverage, with Moody's adjusted debt to EBITDA of approximately 6x on a proforma basis as of the LTM period ended April 04, 2026, and low EBITDA margin. The high leverage, potential for acquisitions and concentrated control are key factors in the ratings and important governance drivers of the G-4 governance issuer profile score and CIS-4 credit impact score. Approximately 40% of the company's EBITDA is generated from its distribution segment that is a low-margin last-mile distribution business that operates as part of its customers' supply chain providing food and supply deliveries to their restaurants. The bulk of the remaining operations are the manufacturing of sauces, condiments, dressings, syrups and aseptic products along with the international operations and the protein supply business. Approximately 95% of its revenue is protected by pricing protocols for ingredients, packaging and conversion costs that result in a low but relatively stable EBITDA margin. The ratings also reflect event risk such as leveraged acquisitions and shareholder distributions under the company's private equity ownership. The stable outlook reflects Moody's expectations that Golden State Foods will mitigate the current slowdown in restaurant traffic with growth initiatives including an increase in customer store count and cost controls that will allow for low single digit revenue growth and approximately $100 million of free cash flow in 2027. Moody's also anticipate in the stable outlook that the company will maintain good liquidity over the next 12 to 18 months. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS Ratings could be downgraded if operating performance weakens due to factors such as softness in restaurant traffic and sales volumes, slow new restaurant openings, or higher operating costs, weaker free cash flow, EBITA/interest is sustained below 1.0x, liquidity deteriorates, or if the company completes debt financed acquisitions or shareholder distributions. Ratings could be upgraded if the company sustains good organic revenue growth, maintains a good EBITDA margin, and generates consistent and comfortably positive free cash flow. The company would also need to sustain debt to EBITDA below 5.5x, EBITA/interest above 1.5x, and maintain a more conservative financial policy. The principal methodology used in these ratings was Consumer Packaged Goods published in February 2026. The B3 CFR is two notches below the B1 scorecard-indicated outcome based on the LTM ended April 2026. The difference reflects the company's aggressive debt-funded distributions, which constrain free cash flow and increase cash interest expense. These factors may limit the company's financial flexibility to deleverage or reinvest in the business, particularly during periods of earnings volatility. COMPANY PROFILE Golden State Foods LLC, based in Irvine, California, is a global diversified food manufacturer and distributor primarily to limited-service restaurants and foodservice customers. The company manufactures sauces, dressings, condiments and syrups; aseptic dairy-based milkshakes, ice cream, coffees and non-dairy beverage products; fresh and frozen beef patties; and fresh-cut produce. In addition, it provides last mile custom daily distribution services to limited service restaurants. Golden State Foods generated annual sales of approximately $5 billion as of the 12 months ended April 04, 2026. Lindsay Goldberg, a private equity firm, acquired a majority of the company in December 2024. GOLDENPEAKS POLAND: Brookfield Faces Growing Dispute with Creditors ------------------------------------------------------------------- Steven Church of Bloomberg News reports that Brookfield Asset Management Ltd. is facing mounting opposition over its proposal to take control of the operations of bankrupt GoldenPeaks Poland Holding Ltd., as unsecured creditors seek additional information about the investment firm's debt-for-equity transaction. The proposed takeover could draw objections from junior creditors, who are evaluating whether the restructuring unfairly favors Brookfield over other stakeholders. On Friday, July 31, 2026, a federal bankruptcy judge in Houston ordered Brookfield to produce WhatsApp messages, emails, and other internal communications concerning its effort to exchange debt holdings for ownership of GoldenPeaks' solar-power operations. The ruling came after the official committee of unsecured creditors sought discovery into the negotiations surrounding the proposed transaction. Brookfield agreed to provide the requested documents, allowing the committee to review the communications as it assesses whether to challenge the proposed deal. Brookfield Asset Management Ltd. is one of the world's largest alternative investment firms, with investments spanning renewable power, infrastructure, real estate, private equity, and credit. The GoldenPeaks bankruptcy has become a closely watched restructuring, with creditors examining whether Brookfield's debt conversion proposal maximizes value for the estate or disproportionately benefits the senior lender. About GoldenPeaks Poland LLC GoldenPeaks Poland LLC is a European renewable energy developer. GoldenPeaks Poland LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 26-90558) on May 29, 2026. In its petition, the Debtor reports assets between $1 billion and $10 billion and liabilities between $500 million and $1 billion. Honorable Bankruptcy Judge Alfredo R. Perez handles the case. The Debtor is represented by Benjamin Lawrence Wallen, Esq. of Pachulski Stang Ziehl & Jones LLP. GOLDENPEAKS POLAND: Committee Taps KKG Legal as Polish Counsel -------------------------------------------------------------- The official committee of unsecured creditors of GoldenPeaks Poland Holding Limited and its affiliates seek approval from the U.S. Bankruptcy Court for the Southern District of Texas to employ KKG Legal Kubas Kos Galkowski i Wspolnicy sp. k. as Polish counsel. The firm's services include: a. assisting committee counsel in providing legal advice as necessary with respect to analysis of the liens and security interests as they relate to the Debtor; b. assisting committee counsel in providing legal advice as necessary with respect to any investigation, analysis and pursuit of estate claims and causes of action to the extent such claims and causes of action are governed by applicable Polish law; c. assisting committee counsel in performing such other legal services as may be required and as are in the best interests of the Committee and creditors. Consistent with the Appendix B Guidelines, which became effective on November 1, 2013, the firm states as follows: (a) KKG agreed to set its hourly rate at $210 per hour, inclusive of VAT; (b) KKG's professionals included in the engagement have not varied their rates based on the geographic location of these Chapter 11 Cases except that KKG professionals agreed to set their hourly rates at $210 per hour and issue invoices in USD instead of Polish local currency; (c) KKG did not represent the Committee prior to the Petition Date; (d) As the Committee Polish counsel, KKG anticipates that the Committee's professional fees will be initially governed by the budget approved in these Chapter 11 Cases. The Committee and its professionals reserve all rights to seek approval of all Committee professional fees; (e) KKG does not represent any other entity having an adverse interest in connection with these Chapter 11 Cases; (f) If KKG discovers any connection with any interested party or enters into any new relationship with any interested party, the firm will promptly supplement its disclosure to the Court. Katarzyna Kostępska, a partner of KKG Legal, assured the court that the firm does not hold or represent any interest that is adverse to the Committee and the Debtors' estates. The counsel can be reached through: Katarzyna Kostępska KKG Legal Kubas Kos Galkowski i Wspolnicy sp. k. Nowa Kamienica ul. Rakowicka 7 31-511 Krakow, Poland Phone: (48) 126194067 Email: katarzyna.kostepska@kkg.pl About GoldenPeaks Poland LLC GoldenPeaks Poland LLC is a European renewable energy developer. GoldenPeaks Poland LLC and its affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 26-90564) on May 29, 2026. The case is jointly administered in Case No. 26-90564. In its petition, GoldenPeaks Poland disclosed up to $10 billion in assets and up to $1 billion in liabilities. Honorable Bankruptcy Judge Alfredo R. Perez handles the case. The Debtors tapped Benjamin Lawrence Wallen, Esq., at Pachulski Stang Ziehl & Jones LLP as counsel; Alvarez & Marsal North America, LLC as financial advisor; Houlihan Lokey Capital, Inc. as investment banker; and SSW Spaczynski, Szczepaniak, Wickel, Gozdziowska spk as special Polish counsel. GOLF SERVICES: Plan Confirmation Hearing Scheduled for Sept. 1 -------------------------------------------------------------- Judge Craig T. Goldblatt of the U.S. Bankruptcy Court for the District of Delaware conditionally approved the Amended Combined Disclosure Statement and Joint Chapter 11 Plan of Liquidation of Golf Services Wind Down, LLC, and certain of its affiliates. The Disclosure Statement is conditionally approved as containing adequate information in accordance with section 1125 of the Bankruptcy Code and is subject to final approval of the Court at the Combined Hearing. * A hearing (the "Confirmation Hearing") to consider final approval of the Combined Plan and Disclosure Statement as containing adequate information within the meaning of section 1125 of the Bankruptcy Code and confirmation of the Combined Plan and Disclosure Statement will be held before Judge Goldblatt, United States Bankruptcy Judge, on the 3rd floor of the Court, Courtroom 7, 824 North Market Street, Wilmington, DE 19801, on September 1, 2026 at 10:00 a.m. (prevailing Eastern Time). * Objections to confirmation of the Combined Plan and Disclosure Statement, including any objection to the adequacy of the disclosures, if any, must: (a) be in writing; (b) be filed with the Court by no later than August 20, 2026 at 4:00 p.m. (prevailing Eastern Time). * For a vote to accept or reject the Combined Plan and Disclosure Statement to be counted, the Holder of a Claim must complete all required information on the Ballot, execute the Ballot and return the completed Ballot in accordance with the instructions so that it is received by 5:00 p.m. (prevailing Eastern Time) on August 17, 2026 (the "Voting Deadline"). As shared by the Troubled Company Reporter, the Debtors filed for chapter 11 protection on November 21, 2025, immediately following the entry of the orders denying the Company's post-trial motions in the Florida Action, to avoid, among other things, the filing of a judgment lien that would have led to enforcement on the Debtors' assets. The chapter 11 filing provided the Debtors with the protection of the automatic stay and the opportunity to pursue a value-maximizing sale or restructuring transaction for the benefit of all stakeholders, while preserving the Company's more than 30 employees and contractors and the ongoing business operations. Class 3A consists of General Unsecured Claims. Except to the extent that a Holder of an Allowed General Unsecured Claim has agreed to less favorable treatment of such Claim, each Holder of an Allowed General Unsecured Claim shall receive, (i) on the Effective Date, or as soon as reasonably practicable thereafter, or on the date such Claim becomes an Allowed General Unsecured Claim or as soon thereafter as is reasonably practicable, its Pro Rata share of Residual Cash on Hand and (ii) its Pro Rata share of the Residual Reserve Amount. The allowed unsecured claims total $296,000,000. This Class will receive a distribution of 1.5% of their allowed claims. This Class is impaired. Class 3B consists of all Convenience Claims. Except to the extent that a Holder of an Allowed Convenience Claim has agreed to less favorable treatment of such Claim, each such Holder of an Allowed Convenience Claim shall receive the lesser of (x) 5% of its Allowed Convenience Claim and (y) its Pro Rata share of the Convenience Class Cash Pool. The allowed unsecured claims total $1,500,000. This Class will receive a distribution of 5% of their allowed claims. Class 3B is Impaired. The Debtors reserve the right to modify the Combined Plan and Disclosure Statement, with the express written consent of PMP Nick, either before or after the Confirmation Date, to make nonmaterial mechanical changes to provide for the establishment of a liquidating trust and such liquidating trust would hold and wind down the Post-Effective Date Debtors, should the Debtors determine, in their discretion, that a liquidating trust would more efficiently wind down the Estates. The Plan Administrator shall also have the right to establish a liquidating trust after the Effective Date with Court approval. A full-text copy of the Combined Disclosure Statement and Joint Plan of Liquidation dated July 2, 2026 is available at https://urlcurt.com/u?l=CNYMP8 from Epiq Corporate Restructuring, LLC, claims agent. Counsel to the Debtors: Michael J. Merchant, Esq. Zachary I. Shapiro, Esq. James F. McCauley, Esq. Alexander R. Steiger, Esq. RICHARDS, LAYTON & FINGER, P.A. 920 North King Street Wilmington, DE 19801 Telephone: 302-651-7700 E-mail: merchant@rlf.com shapiro@rlf.com mccauley@rlf.com steiger@rlf.com - and - David J. Cohen, Esq. WEIL, GOTSHAL & MANGES LLP 1395 Brickell Avenue, Suite 1200 Miami, FL 33131 Telephone: (305) 577-3100 Email: davidj.cohen@weil.com - and - Ronit J. Berkovich, Esq. Daphne S. Papadatos, Esq. WEIL, GOTSHAL & MANGES LLP 767 Fifth Avenue New York, NY 10153 Telephone: (212) 310-8000 Email: ronit.berkovich@weil.com daphne.papadatos@weil.com A copy of the Court's Order dated July 20, 2026, is available at https://urlcurt.com/u?l=D3eZzY from Epiq Corporate Restructuring, LLC, claims agent. About GBI Services/Nicklaus Companies GBI Services, LLC's affiliate Nicklaus Companies LLC, also known as Golden Bear Financial Services, is a worldwide golf enterprise established to uphold and expand the legacy of golf icon Jack Nicklaus. Nicklaus operates across several areas of the industry, including golf course design, branded products, licensing, and overall brand management. Its goal is to provide high-quality golf experiences and products that reflect the Nicklaus name's global reputation for excellence, innovation, and integrity. GBI Services and its affiliates including Nicklaus sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del., Lead Case No. 25-12089) on November 21, 2025. In its petition, GBI Services, the lead debtor, reported estimated assets between $10 million and $50 million and estimated liabilities between $500 million and $1 billion. The petitions were signed by Philip D. Cotton as chief executive officer. Honorable Bankruptcy Judge Craig T. Goldblatt handles the cases. The Debtors are represented by the law firms of Richards, Layton & Finger, P.A. and Weil Gotshal & Manges LLP. Alvarez & Marsal North America, LLC serves as financial and restructuring advisor while Cassel Salpeter & Co serves as investment banker. Epiq Corporate Restructuring, LLC is the claims and noticing agent. GREEN SAPPHIRE: Involuntary Chapter 11 Case Summary --------------------------------------------------- Alleged Debtor: Green Sapphire Holdings Inc. f/k/a Organic Fuels Holdings, Inc. 3500 Oak Lawn Ave., Ste. 460 Dallas TX 75219 Involuntary Chapter 11 Petition Date: July 21, 2026 Court: United States Bankruptcy Court Northern District of Texas Case No.: 26-33254 Petitioners' Counsel: Brandon J. Tittle, Esq. TITLE SANTIAGO, PLLC 1125 Legacy Dr. Ste. 230 Frisco TX 75034 Tel: 972-213-2316 Email: btittle@tittlesantiago.com A full-text copy of the Involuntary Petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/COSJ6QY/Green_Sapphire_Holdings_Inc__txnbke-26-33254__0001.0.pdf?mcid=tGE4TAMA Alleged creditors who signed the petition: Petitioner Nature of Claim Claim Amount Iecocqassociate Attorney Fees $97,047 Ave de Gare des Eau-Vives 28 CH-1208 Geneva, Switzerland Legamaro Banipal LLP Attorney Fees $8,060 123 Wacker Drive, Ste. 1400 Chicago IL 60606 Charles-Hubert Vanoverberghe Attorney Fees $69,676 9 rue Boissy d'Anglas 75008 Paris GREENE P INC: Case Summary & Six Unsecured Creditors ---------------------------------------------------- Debtor: Greene P. Inc. 66 Fort Greene Pl Brooklyn, NY 11217 Business Description: Greene P. Inc. is a single-asset real estate company (as defined in 11 U.S.C. Section 101(51B)). Chapter 11 Petition Date: July 23, 2026 Court: United States Bankruptcy Court Eastern District of New York Case No.: 26-43517 Judge: Hon. Elizabeth S Stong Debtor's Counsel: Julio E. Portilla, Esq. JULIO E. PORTILLA 380 Lexington Ave. 4th Floor New York, NY 10168 Tel: (212) 365-0292 Fax: (212) 365-4417 E-mail: jp@julioportillalaw.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Anthony Williams as principal. A full-text copy of the petition, which includes a list of the Debtor's six unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/Q5WECUI/Greene_P_Inc__nyebke-26-43517__0001.0.pdf?mcid=tGE4TAMA HAK ENTERPRISES: Plan Confirmation Hearing Rescheduled for Aug. 12 ------------------------------------------------------------------ The U.S. Bankruptcy Court for the Northern District of Indiana will hold a hearing on August 12, 2026, at 10:30 a.m. before the Honorable Paul E. Singleton to confirm the Liquidating Plan of HAK Enterprises LLC. As shared by the Troubled Company Reporter, the Debtor scheduled interest in the real estate located at 1633 Stitt Street, Wabash, IN 46992. Although scheduled at $350,000.00 in value, the real estate has lost value since the business ceased operating and the loss of the liquor license associated therewith. The defendant in the pending adversary proceeding has provided to Debtor an appraisal setting forth that the real estate was appraised on March 25, 2026, and valued at $160,000.00. The Debtor's plan is premised upon liquidation of assets for funds to make distribution to creditors pursuant to Bankruptcy Code priorities. Class 4 consists of Unsecured, Non-Priority Claims. The Allowed Claims of this Class shall be paid on a pro rata basis from any remaining proceeds of the estate after Classes 1, 2, and 3 have been paid in full as soon as is practicable after Confirmation of the Plan. Class 5 consists of Interest Holders. This Class shall receive the balance of the Liquidation Proceeds, if any, that remain after the Allowed Claims of Classes 1 through 4 have been paid in full. The Debtor, with the assistance of its counsel, shall proceed immediately upon Confirmation of the Plan with the sale of all its assets and the collection of net proceeds therefrom, the proceeds of which (the Liquidation Proceeds) shall be remitted to the Disbursing Agent for distribution pursuant to the Plan. The Debtor's tangible assets shall be sold by auction by a licensed auctioneer (unless other sale method is authorized by the Court as to any one or more items) as soon as can be practicably scheduled. A full-text copy of the Liquidating Plan dated June 1, 2026 is available at https://urlcurt.com/u?l=dkLF5C from PacerMonitor.com at no charge. Counsel to the Debtor: H. Faith Welch, Esq. Scot T. Skekloff, Esq. HALLERCOLVIN PC 444 East Main Street Fort Wayne, Indiana 46802 And Daniel L. Freeland, Esq. 9105 Indianapolis Blvd. Highland, Indiana 46320 A copy of the Court's Order dated July 20, 2026, is available at https://urlcurt.com/u?l=5XtT8l from PacerMonitor.com. About HAK Enterprises LLC HAK Enterprises LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-30003) on January 5, 2026. In its petition, the Debtor reports estimated assets between $100,001 and $1,000,000 and estimated liabilities between $0 and $100,000. The Debtor is represented by Heather Faith Welch, of Hallercolvin, P.C. HALLMARK FINANCIAL: Plan Confirmation Hearing Scheduled for Aug. 25 ------------------------------------------------------------------- The U.S. Bankruptcy Court for the Northern District of Texas will hold a hearing on August 25, 2026, at 2:00 p.m. before the Honorable Michelle V. Larson to confirm the Prepackaged Chapter 11 Plan of Reorganization of Hallmark Financial Services, Inc. August 17, 2026, at 11:59 p.m. (prevailing Central Time) is the Postpetition Voting Deadline for a Holder of a Class 3 or Class 5 Claim, other than Hildene. August 17, 2026, at 5:00 p.m. (prevailing Central Time) is the deadline for filing objections (each, an "Objection") to confirmation of the Plan, or to the proposed assumption of Executory Contracts and Unexpired Leases. As shared by the Troubled Company Reporter, the Plan contemplates the completion of a prepetition marketing process pursuant to which Hallmark will seek an Alternative Restructuring Transaction that provides higher or better cash recoveries compared to the Restructuring Transaction with Hildene. If an Alternative Restructuring Transaction is identified by Hallmark and approved by the Bankruptcy Court, the net cash proceeds from such transaction will be distributed to creditors in accordance with the priority scheme established by the Bankruptcy Code and the Plan. Under the terms of the RSA, Hallmark and Hildene have agreed on an Initial Plan Value, which establishes the minimum bid threshold for any Alternative Restructuring Transaction. The Initial Plan Value is estimated to be approximately $47 million, calculated as (i) the amount of Senior Unsecured Notes Claims, including accrued interest (estimated to be $52.2 million as of April 30, 2026), plus (ii) 10% of Junior Subordinated Debt Claims, including accrued interest (estimated to be $8 million as of April 30, 2026), plus (iii) the estimated amount of unpaid Professional Fee Claims, Hildene Professional Fees, and other Administrative Claims as of the Effective Date (estimated to be approximately $11 million), plus (iv) to the extent applicable, any DIP claims, plus (v) the amount of general unsecured claims (estimated to be $400,000), less (vi) the estimated amount of the Company's cash, cash equivalents, and investments balance as of the projected Effective Date (estimated to be approximately $24.7 million). Class 4 consists of General Unsecured Claims. On the Effective Date or as soon as reasonably practicable thereafter, in full and final satisfaction, settlement, release, and discharge of, and in exchange for, each Allowed General Unsecured Claim, each Holder of an Allowed General Unsecured Claim, shall receive payment in Cash of the unpaid portion of such Claim (without interest, premium or penalty) on or about the Effective Date. For General Unsecured Claims that are not Allowed as of the Effective Date, the Reorganized Debtor shall pay the amount of such Allowed General Unsecured Claim as directed by any Final Order of the Bankruptcy Court allowing such Claim. Class 4 is unimpaired under the Plan, and the Holders of Claims in Class 4 are therefore conclusively deemed to accept the Plan. The Company will not solicit votes from Holders of Class 4 General Unsecured Claims. The allowed unsecured claims total $400,000. This Class will receive a distribution of 100% of their allowed claims. The Company's management team prepared financial projections ("Financial Projections") for the Company for fiscal years 2026 through 2030 (the "Projection Period"). The Financial Projections were prepared by the Company's management, in consultation with the Company's advisors, including CR3 Partners, and are based on a number of assumptions made by the Company with respect to the future performance of the Company's operations. Based on these Financial Projections, the Company believes the deleveraging contemplated by the Plan meets the financial feasibility requirement. Moreover, the Company believes that sufficient funds will exist to make all payments required by the Plan. Accordingly, the Company believes that the Plan satisfies the feasibility requirement of section 1129(a)(11) of the Bankruptcy Code. These Financial Projections are provided solely to assist the Bankruptcy Court in determining the Plan's feasibility and should not be relied upon by any party to assess the enterprise valuation of the Company or the Reorganized Debtor, or for any other purpose. A full-text copy of the Disclosure Statement dated June 15, 2026 is available at https://urlcurt.com/u?l=GbOqZO from Stretto Inc., claims agent. Proposed Counsel to the Debtor: Jason S. Brookner, Esq. Aaron M. Kaufman, Esq. Lydia R. Webb, Esq. Emily F. Shanks, Esq. GRAY REED 1601 Elm Street, Suite 4600 Dallas, TX 75201 Telephone: (214) 954-4135 Facsimile: (214) 953-1332 Email: jbrookner@grayreed.com akaufman@grayreed.com lwebb@grayreed.com eshanks@grayreed.com A copy of the Court's Order dated July 20, 2026, is available at https://urlcurt.com/u?l=yo5Enm from Stretto Inc., claims agent. About Hallmark Financial Services Hallmark Financial Services, Inc., is headquartered in Dallas, Texas. The company is engaged primarily in the sale of property and casualty insurance products. The Company's business involves marketing, underwriting, and premium financing of non-standard personal automobile insurance primarily in Texas, Arizona, and New Mexico, marketing of commercial insurance in Texas, New Mexico, Idaho, Oregon, and Washington, and third-party claims administration, and other insurance-related services. Hallmark Financial Services, Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-80007) on June 15, 2026. In its petition, the Debtor reported estimated assets of $10 million to $50 million and estimated liabilities of $100 million to $500 million. The Honorable Bankruptcy Judge Michelle V. Larson handles the case. William Snyder of Oliver Wyman, LLC, serves as the Debtor's Chief Restructuring Officer. Oliver Wyman, which acquired CR3 Partners, LLC in May 2026, serves as financial advisor. Gray Reed & McGraw LLP serves as the Debtor's general bankruptcy counsel, Olshan Frome Wolosky LLP as special corporate and litigation counsel, and Greenberg Traurig LLP as special regulatory counsel. Raymond James & Associates, Inc. serves as the Company's investment banker. Stretto, Inc., is employed as the Company's claims and noticing agent. Fox Rothschild LLP and Wollmuth Maher & Deutsch LLP serve as counsel to Hildene Capital Management, LLC and its affiliates. HARLOW ENTERPRISES: Unsecureds Will Get 100% over 60 Months ----------------------------------------------------------- Harlow Enterprises, LLC filed with the U.S. Bankruptcy Court for the Northern District of West Virginia a Plan of Reorganization for Small Business dated July 20, 2026. The Debtor is a family-owned limited liability company that has operated since May 2021. Its primary business is excavation work for small commercial and residential projects. In September 2021, the company entered into certain agreements with Iron Horse Industries, LLC. The proposed reorganization plan has a 60-month term from the effective date. The debtor's financial projections indicate that it will have sufficient projected disposable income to pay claims once tax claims are resolved. The debtor expects to complete plan payments before the end of the 60-month period, subject to the resolution of its objection to Iron Horse Industries, LLC's amended claim and a pending adversary proceeding. The plan states that tax liabilities for 2022 and 2023 owed to the Internal Revenue Service and the West Virginia State Tax Department, arising from the company's pass-through tax election, are personal obligations of Kenneth Harlow and will be paid by him outside the plan. Treatment of Claims Class 3 Non-Priority Unsecured Claims * Includes: -- American Express NA (Claim No. 1): Allowed claim of $2,605.97. -- Gwendalyn Bauer (Claim No. 2): Disputed and not allowed. -- Aeron Meroney (Claim No. 3): Disputed and not allowed. * The debtor is not aware of any other allowed non-priority unsecured claims. * Any unsecured claims that are later allowed will be paid 100% over the 60-month plan term. * The amended claim of Iron Horse Industries, LLC (Claim No. 4) is treated as a secured claim and is not included in this class. * The debtor projects unsecured creditors will receive 100% of their allowed claims, subject to the outcome of claim objections and avoidance actions. Class 4 Equity Interests. Existing ownership interests remain unchanged. Kenny Harlow, who owned 100% of the company before the bankruptcy filing, will continue to own 100% after confirmation, with ownership vesting upon substantial consummation of the plan. Plan Funding and Payments * The debtor will serve as the disbursing agent and make all required plan payments. * Administrative priority claims will be paid during the first 18 months of the plan. * The secured debt owed to Iron Horse Industries, LLC, with a corrected balance of $19,026.12, will be paid in 60 equal monthly installments of $317.10, with no interest, subject to the court's determination or settlement of the amount owed and any applicable offsets or recoupment. * All other allowed non-priority unsecured claims will be paid 100% over the 60-month plan term, or sooner as funds become available. * The personal tax liabilities of Kenneth Harlow for tax years 2022 and 2023 are excluded from the plan and will be paid by him outside the bankruptcy plan. A full-text copy of the Plan of Reorganization dated July 20, 2026 is available at https://urlcurt.com/u?l=cJPROl from PacerMonitor.com at no charge. Harlow Enterprises LLC is represented by: Aaron C. Amore, Esq. WVSB #6455 206 West Liberty Street Charles Town, WV 25414 Phone 304- 885-4117 Fax: 866-417-8796 E-mail: aaron@amorelaw.com About Harlow Enterprises Harlow Enterprises LLC is afamily owned and operated limited liability corporation. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. W.Va. Case No. 26-00165) on March 20, 2026, with $50,001 to $100,000 in assets and $0 to $50,000 in liabilities. Judge David L. Bissett presides over the case. Aaron C. Amore, at Amore Law, PLLC, is representing the Debtor. HILLMAN SOLUTIONS: S&P Places 'BB+' Term Loan Rating on Watch Neg. ------------------------------------------------------------------ S&P Global Ratings placed its 'BB+' issue level rating on U.S.-based Hillman Solutions Corp.'s first-lien term loan on CreditWatch with negative implications. S&P's 'BB' issuer credit rating and stable outlook are unchanged. The CreditWatch placement reflects that S&P could lower its rating on the first-lien debt up to one notch because of the increase in secured obligations in the capital structure. Hillman announced it has entered into an agreement to acquire industrial fastener distributor Kanebridge Corp. for $315 million. Hillman indicated it expects to fund the acquisition with a combination of cash on hand, asset-based revolving credit facility borrowings, and an add-on to its first-lien term loan. S&P Global Ratings estimates pro forma leverage will increase to about 3.5x, comfortably within our expectations for the rating. The CreditWatch reflects potentially weaker recovery prospects for first-lien creditors. Hillman announced it will fund its proposed $315 million acquisition of Kanebridge at least partly through an add-on to its first-lien term loan. Depending on the add-on quantum, this could reduce recovery prospects for first-lien creditors in a default scenario. S&P could lower its ratings on this debt up to one notch. Hillman's acquisition of Kanebridge fits within its growth strategy. The company continues to operate within our expectations for the ratings. Kanebridge supplies commercial- and military-grade fasteners to commercial and industrial distributors throughout the U.S. and Canada. The acquisition supports Hillman's strategic objective of expanding into industrial maintenance and repair end markets. S&P said, "Pro forma for the acquisition, we expect leverage will increase to about 3.5x, comfortably below our 4x downgrade threshold. We expect Hillman will deleverage to the low-3x area at the end of fiscal 2026 as it generates steady cash flow and reduces debt." S&P said, "We expect to resolve the CreditWatch when Hillman finalizes its acquisition financing. We could lower our issue-level rating on the first-lien debt up to one notch to 'BB' and revise our recovery rating to '3' from '2', reflecting weaker recovery prospects for secured creditors in a default." HIS WAY SIGN: Court Extends Cash Collateral Access to Sept. 10 -------------------------------------------------------------- His Way Sign Service and Install, LLC received second interim approval from the U.S. Bankruptcy Court for the Middle District of North Carolina, Greensboro Division, to use cash collateral to fund its operations. Under the second interim order, the Debtor is authorized to use cash collateral through September 10 or until a termination event occurs, including the effective date of a confirmed Chapter 11 plan, dismissal or conversion of the bankruptcy case, or an uncured event of default. As of the petition date, the Debtor's cash collateral consisted of approximately $3,045 in bank accounts and $67,424 in accounts receivable, for a combined value of approximately $70,468. These assets are subject to multiple Uniform Commercial Code financing statements filed by various lenders claiming security interests in the Debtor's cash collateral. The Debtor identified Fox Funding as the primary secured creditor, holding a purported first-priority security interest in its accounts and accounts receivable pursuant to a Future Receivables Sale and Purchase Agreement executed in December 2025. Fox is owed approximately $50,000, while the collateral securing its claim had an estimated value of approximately $70,468 as of the petition date. Secured creditors will be granted adequate protection through a replacement lien on the Debtor's post-petition property similar to their pre-petition collateral, with the same validity, priority and enforceability as their pre-petition liens. As additional protection, Fox, Highland and United Capital Experts will receive monthly payments of $354.58, $386.69, and $64.53, respectively. The order is available at https://shorturl.at/yaSTy A court hearing is scheduled for September 10. About His Way Sign Service and Install LLC His Way Sign Service and Install, LLC is a High Point, North Carolina-based sign manufacturing and installation services provider. The company offers sign design, installation, and parking lot lighting maintenance services. His Way Sign Service and Install, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-10526) on July 2, 2026. In its petition, the Debtor reports estimated assets of $100,000 to $500,000 and estimated liabilities of $500,000 to $1 million. Honorable Benjamin A. Kahn handles the case. The Debtor is represented by Samantha K. Brumbaugh, Esq. of Ivey, McClellan, Siegmund, Brumbaugh & McDonough, LLP. HUDSON RIVER: Fitch Alters Outlook on 'BB' LongTerm IDR to Positive ------------------------------------------------------------------- Fitch Ratings has revised Hudson River Trading LLC's (HRT) Rating Outlook to Positive from Stable and affirms its Long-Term Issuer Default Rating (IDR) and secured debt rating at 'BB'. Key Rating Drivers Business Profile Drives Positive Outlook: The Positive Outlook reflects HRT's strengthening business profile in recent years, underpinned by better geographic diversification and strong growth in net operating income. Moderate distributions have also supported a strong buildup of trading capital, allowing the firm to expand trading capacity in a dynamic market environment. A one-notch upgrade of the rating could result from sustained strong operating performance while maintaining good capital management discipline and a conservative risk culture. In addition, broader diversification of HRT's secured funding profile could support upward rating momentum. Established Market Position: The ratings affirmation reflects HRT's established market position as a global, technology-driven market maker with a focus on equities across various venues and its ongoing, methodical expansion in other asset classes. The ratings also reflect HRT's low leverage, scalable business model, sound risk controls and consistent strategic execution. The firm's particularly high level of employee ownership also supports its ratings, as risk and return interests remain well aligned. Business Model Constraints; Regulatory Risks: Limited business diversification outside of the liquidity provision and reliance on transactional revenue streams, which typically fluctuate with broader market trading activity, constrain the rating. Market makers also face elevated market and operational risks in technology-driven trading, along with increased regulatory scrutiny in some emerging markets. The ongoing regulatory investigation by the Security and Exchange Board of India (SEBI) into market manipulation by some market makers does not implicate HRT but highlights regulatory risk for the sector more broadly. HRT has not experienced any material adverse regulatory findings in recent years, and Fitch considers regulatory risk to be well managed and embedded into the firm's risk control framework. Operating Margins Remain Supportive of Rating: HRT's profitability, measured by adjusted EBITDA to gross revenues, remains strong and has improved in recent years, supported by robust equity trading activity, penetration in other traded assets and targeted investments in technology infrastructure. HRT's EBITDA margin has consistently exceeded Fitch's 'bb' category quantitative benchmark range of 10%-20% for securities firms with low balance sheet usage. Fitch expects margins to remain resilient as HRT drives its scalable business model and further expands its product set, mitigating susceptibility of earnings generation to volatility-driven market activity. Leverage Supports the Rating: HRT's cash flow leverage continues to improve and has consistently remained below Fitch's 'bb' category benchmark range of 2.5x to 3.5x for securities firms with low balance sheet usage. Its equity base is underpinned by solid earnings retention and disciplined, risk-appropriate capital management, including reasonable distributions. Fitch expects capitalization to remain aligned with HRT's balance-sheet-light business model, as mostly intraday trading continues to drive operating performance. A significant expansion in the balance sheet—notably if driven by a shift to longer-term trading strategies that raise market risk—could be rating negative. Limited Funding Mix: HRT's funding profile is fully secured, consisting of corporate debt and short-term, collateralized prime broker facilities. Although its market-making activities rely on secured, confidence-sensitive prime brokerage credit, funding risk is mitigated by its high credit quality and long-standing relationships with its prime brokers. Prime broker margin lock-up agreements align with HRT's short-duration trades and extend well beyond the time needed to liquidate the portfolio under stress. Trading capital displays healthy buffers above margin requirements, supporting financial flexibility during market volatility. Adequate Liquidity: Fitch views HRT's liquidity as adequate. HRT benefits from a relatively high cash buffer relative to overall trading capital, strong cash flow generation and sizable, committed settlement facilities, although capacity depends on the availability of unencumbered collateral. The risks of its confidence-sensitive and predominantly secured funding profile are partially offset by a liquid securities inventory, comprised predominantly of Level 1 financial assets that could be liquidated on short notice if needed. HRT also maintains a committed corporate revolving credit facility to cover short-term funding needs or operational and capital expenditures, if needed. Strong Interest Coverage: Interest coverage (calculated as EBITDA to interest expenses) is solid and has improved recently due to sound EBITDA generation. While coverage may fluctuate as earnings evolve in a volatile trading environment, core earnings should support an appropriate baseline level of interest coverage through the cycle. Fitch expects HRT to maintain interest coverage well above the 'bb' category quantitative benchmark range of 3.0x-6.0x for securities firms with low balance sheet usage. RATING SENSITIVITIES Factors that Could, Individually or Collectively, Lead to Negative Rating Action/Downgrade The Rating Outlook could be revised back to Stable from Positive if HRT experiences a notable weakening in operating performance, leading to a systemic decline in operating income and higher-than-average cash flow leverage. An erosion in franchise strength from adverse reputational or regulatory developments could also lead to an Outlook revision back to Stable. Beyond that, HRT's rating could be downgraded due to: - An inability to maintain leverage at or below 3.0x on a gross debt/adjusted EBITDA basis; - A substantial increase in balance sheet leverage above 15x on a net adjusted leverage basis, particularly if associated with higher market or funding risks; - A material decline in excess trading capital relative to margin requirements; - Material adverse legal or regulatory actions against HRT, which results in a material fine, reputational damage, or alteration in the business profile; - Material operational or risk management failures that adversely affect profitability and/or market confidence; - An idiosyncratic liquidity event that adversely affects the firm's ability to execute on its core business strategies; - An inability to maintain its market position in the face of evolving market structures and technologies; - A material shift into trading fewer liquid products. Factors that Could, Individually or Collectively, Lead to Positive Rating Action/Upgrade - Continuation of consistent operating performance, leading to sustained growth in operating income without incurring any meaningful operational losses; - Increased funding diversity, including further diversification of its secured corporate debt profile and demonstrated access to third-party funding through market cycles; - Maintenance of cash flow leverage consistently below 1.5x on a gross debt/adjusted EBITDA basis; - A meaningful increase in excess trading capital over margin requirements or an improvement to margin agreement terms with the firm's group of prime brokers; - Continued diversification of trading platforms outside of equities and equity-related products resulting in higher levels of net trading revenue, while maintaining a limited and well managed market risk profile. DEBT AND OTHER INSTRUMENT RATINGS: KEY RATING DRIVERS The secured term loan rating is equalized with the IDR and reflects the fully secured funding profile and average recovery prospects in a stressed scenario. DEBT AND OTHER INSTRUMENT RATINGS: RATING SENSITIVITIES The secured term loan rating is mainly sensitive to changes in HRT's IDR and also to material changes in HRT's capital structure and/or in Fitch's assessment of the recovery prospects for the debt instrument. ADJUSTMENTS The Standalone Credit Profile (SCP) has been assigned below the implied SCP due to the following adjustment reason: Business Profile (negative). The Business Profile score has been assigned below the implied score due to the following adjustment reason: Business model (negative). The Earnings and Profitability score has been assigned below the implied score due to the following adjustment reason: Revenue diversification (negative). The Capitalization and Leverage score has been assigned below the implied score due to the following adjustment reason: Risk profile and business model (negative). The Funding, Liquidity and Coverage score has been assigned below the implied score due to the following adjustment reason: Business model/funding market convention (negative). 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 ----------- ------ ----- Hudson River Trading LLC LT IDR BB Affirmed BB senior secured LT BB Affirmed BB HUGHES SATELLITE: S&P Downgrades ICR to 'D' on Chapter 11 Filing ---------------------------------------------------------------- S&P Global Ratings lowered all its ratings on Hughes Satellite Systems Corp., including the issuer credit rating, to 'D' (default). S&P plans to reevaluate the new capital structure once the company emerges from bankruptcy. On Aug. 3, 2026, EchoStar Corp. subsidiary Hughes Satellite Systems Corp. announced that it filed for Chapter 11 bankruptcy, seeking to address its maturing secured and unsecured debt. Hughes was unable to come to terms with lenders and does not have cash on hand to repay its debt obligations. The company plans to use the Chapter 11 filing to improve its capital structure and reorganize operations, increasing focus on the enterprise, government, and defense business lines. S&P downgraded Hughes to 'D' from 'CCC+' following its Chapter 11 bankruptcy filing. This is an event of default under its criteria, indicating that Hughes sought protection from creditors and will restructure its debt obligations. The company expects to operate the business in normal course while under bankruptcy protection, fulfilling obligations to vendors and providing service to customers. Hughes was unable to come to terms with its lenders ahead of the Aug. 1, 2026, maturity of its secured and unsecured debt. It plans to use the Chapter 11 filing to rightsize its capital structure and reorganize operations, increasing its focus on the enterprise, government, and defense business lines, while continuing to fulfill obligations to its residential customer base. HUGHES SATELLITE: Seeks Ch.11 Bankruptcy to Boost Capital Structure ------------------------------------------------------------------- Reshmi Basu of Bloomberg News reports that Hughes Satellite Systems Corp., the satellite internet arm of EchoStar Corp., filed for Chapter 11 bankruptcy after previously cautioning that it lacked sufficient liquidity to satisfy debt coming due in the near term. The case was filed in the U.S. Bankruptcy Court for the Southern District of Texas, with the company listing estimated assets and liabilities ranging from $1 billion to $10 billion. The company had warned in a regulatory filing issued in May 2026 that approximately $1.5 billion of its debt would mature in August 2026. Hughes said it did not have the cash, projected future cash flow, or financing commitments needed to meet those obligations, casting significant doubt on its ability to continue operating without restructuring, the report relays. Through Chapter 11, Hughes aims to reorganize its balance sheet while maintaining business operations. The company is a major provider of satellite broadband and communications services, serving residential, enterprise, government, and mobility customers through its satellite network, according to report. The filing marks the second major bankruptcy within the EchoStar group in recent months. In June 2026, Dish DBS Corp. sought Chapter 11 protection with a prearranged restructuring plan designed to refinance and restructure its debt ahead of looming maturities, the report cites. About Hughes Satellite Systems Corp. Hughes Satellite Systems Corp. is the satellite internet arm of EchoStar Corp. that engaged in the ownership, financing, and management of satellite communications assets. The company supports satellite broadband and network connectivity services provided to residential, commercial, enterprise, and government customers through the Hughes satellite. Hughes Satellite Systems Corp. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 26-90739) on August 2, 2026. In its petition, the Debtor reports estimated assets and liabilities ranging from $1 billion to $10 billion. Honorable Bankruptcy Judge Alfredo R. Perez handles the case. The Debtor is represented by Charles R. Koster, Esq. of White & Case. IN DUE SEASON: Gets Extension to Access Cash Collateral ------------------------------------------------------- The U.S. Bankruptcy Court for the Middle District of Florida, Tampa Division, entered a third interim order authorizing In Due Season, LLC to continue using cash collateral. Under the third interim order, the Debtor is authorized to use cash collateral to pay court-approved expenses, ordinary and necessary operating expenses under the approved budget (with up to a 10% variance per line item), and any additional expenditures approved in writing by secured creditors. The Debtor is also authorized to pay $1,000 per month to the Subchapter V trustee. However, payments to insiders or professionals listed on the budget require separate court approval. The Debtor is prohibited from using cash collateral for unauthorized purposes, although certain unbudgeted expenses may still qualify as administrative expenses under the Bankruptcy Code. The secured creditors that may assert liens on the Debtor's assets include the U.S. Small Business Administration, with a $30,000 claim; Celtic Bank Corporation, with a $350,000 claim and a mortgage lien on real property; and additional creditors such as JRG Funding LLC and LG Funding LLC, bringing the total asserted secured debt exposure to $432,957. As adequate protection, the Debtor offers granting post-petition replacement liens on the same assets and to the same extent and priority as existed pre-petition, along with inspection rights and periodic financial reporting. The order preserves the rights of all parties to seek additional adequate protection or challenge the validity, priority, or extent of asserted liens, while retaining the court's jurisdiction to enforce its terms. The order is available at http://bankrupt.com/misc/InDueSeason_CCorder52.pdf A continued hearing is scheduled for September 2. About In Due Season LLC In Due Season LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 26-03193) on April 16, 2026. In the petition signed by Lucie Bryant, manager, the Debtor disclosed up to $1 million in assets and up to $500,000 in liabilities. Buddy D. Ford, Esq, at Ford & Semach, P.A., represents the Debtor as legal counsel. Amy Denton Mayer of Stichter Riedel Blain & Postler, P.A. serves as Subchapter V trustee for the Debtor. INGLES PRODUCE: Gets Final OK to Use Cash Collateral ---------------------------------------------------- The U.S. Bankruptcy Court for the Southern District of Florida granted Ingles Produce, Inc. final approval to use cash to fund operations during its Chapter 11 Subchapter V case. As of the petition date, the Debtor's cash consisted of bank accounts and accounts receivable, which total $484,807.98. The court clarified that the order does not determine whether this cash constitutes cash collateral under the Bankruptcy Code or establish the extent, validity or priority of any liens claimed by secured creditors Credibly of Arizona LLC, Vox Funding and the U.S. Small Business Administration. Under the final order, secured creditors will be granted adequate protection for any potential decrease in the value of their collateral through valid and perfected replacement liens on and security interests in the Debtor's post-petition cash. The replacement liens apply only to the extent of any valid and perfected pre-petition liens and preserve the same order of priority that existed before the bankruptcy filing. The final order is available at https://shorturl.at/DcoW0 from PacerMonitor.com. Ingles Produce's books and records indicate that Credibly of Arizona, a merchant cash advance lender, and the SBA hold a blanket lien for which a UCC-1 was filed against the Debtor's assets. The UCC-1 covers all assets of the Debtor including cash. As of the petition date, the Debtor owed Credibly of Arizona and the SBA $30,000 and $150,000, respectively. Meanwhile, Vox Funding, another merchant cash advance lender, holds a lien covering the Debtor's future receipts and is owed approximately $110,000 as of the petition date. About Ingles Produce Inc. Ingles Produce, Inc. filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. S.D. Fla. Case No. 25-25031) on December 19, 2025, listing between $500,001 and $1 million in assets and between $1 million and $10 million in liabilities. Tarek Kiem, Esq., at Kiem Law, PLLC serves as Subchapter V trustee for the Debtor. Tarek Kiem, Esq., at Kiem Law, PLLC serves as Subchapter V trustee. The Debtor tapped Aaron A. Wernick, Esq., at Wernick Law, PLLC as bankruptcy counsel and H&H Accounting & Tax Service LLP as accountant. INTEGER HOLDINGS: S&P Places 'BB-' ICR on CreditWatch Negative -------------------------------------------------------------- S&P Global Ratings placed its 'BB-' issuer credit rating on Medical device contract manufacturer Integer Holdings Corp. on CreditWatch with negative implications. The CreditWatch placement indicates the potential for a downgrade of one or more notches due to higher leverage and a more aggressive financial policy under private equity ownership. Integer entered into a definitive agreement to be acquired by private equity firm KKR in an all-cash transaction valued at approximately $5.7 billion. Details of the financing package are yet to be disclosed, but S&P Global Ratings believes it is highly likely the transaction will increase the company's debt and weaken its credit profile. The transaction is highly likely to increase Integer's leverage. KKR will acquire all outstanding shares of Integer in a take-private transaction. The transaction will be financed through equity provided by investment funds managed by KKR and debt, although specific financing plans were not disclosed. S&P said, "Still, we expect that leverage under private equity ownership will be elevated relative to Integer's current financial risk profile, which could drive S&P Global Ratings-adjusted leverage above 3.5x, the downside trigger for our 'BB-' rating. This would prompt us to lower our issuer credit rating on Integer by at least one notch." Integer's financial performance remains pressured. Prior to the take-private announcement, our negative outlook reflected the risk of higher leverage stemming from lower market adoption and uncertain demand for a few of its newer products. In second-quarter 2026, Integer's revenue declined 2.6% year over year to $464 million, driven by lower adoption of two new electrophysiology products and one neuromodulation product, alongside the exit of its portable medical segment. Growth in cardiac rhythm management sales partially offset those declines. S&P said, "Despite the pressure on its financial performance this year, we believe longer-term growth prospects are favorable due to continued outsourcing and solid fundamentals supporting steady demand from medical device manufacturers. "We are not placing our issue-level ratings on Integer's existing senior secured debt on CreditWatch because we expect the debt will be repaid when the transaction closes. The company's credit facility lenders have the right to declare the debts due upon a change of control. "The CreditWatch with negative implications reflects our view that we will likely lower the issuer credit rating on Integer by one or more notches following the transaction due to elevated leverage and a more aggressive financial policy. We plan to resolve the CreditWatch when we have more details about its pro forma capital structure, growth strategy, and financial policy under new ownership, most likely in the coming months." J&J HOSPITALITY: Hires Wilke CPAs & Advisors, LLP as Accountant --------------------------------------------------------------- J&J Hospitality Group seeks approval from the U.S. Bankruptcy Court for the Western District of Pennsylvania to employ Wilke CPAs & Advisors, LLP as accountant. The firm will prepare the Debtor's tax returns, bookkeeping services, tax services, and accounting assistance. The accountant's fees will be based upon its standard billing rates of $75 to $160 per hour depending upon the professional. As disclosed in the court filings, Wilke CPAs & Advisors is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code and as required by Section 327(a) of the Bankruptcy Code and will hold no interest adverse to the Debtor and the bankruptcy estate. The firm can be reached through: David Wilke, CPA Wilke CPAs & Advisors, LLP 1721 Cochran Rd Ste 200 Pittsburgh, PA 15220 Phone: (412) 278-2200 About J&J Hospitality Group J&J Hospitality Group is a Warrendale, Pennsylvania-based full-service restaurant and bar operator. The company operates restaurant locations in Warrendale and Harmony, Pennsylvania, and also maintains a fleet of mobile food trucks equipped with brick ovens. The business serves customers through dine-in and mobile food operations, with its Warrendale location offering seating capacity for approximately 140 guests. J&J Hospitality Group sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-21943) on July 13, 2026. In its petition, the debtor reported estimated assets of $0 to $50,000 and estimated liabilities of $100,000 to $500,000. Honorable Gregory L. Taddonio handles the case. The debtor is represented by Brian C. Thompson, Esq., of Thompson Law Group, PC. J.F.M. 6090: Plan Confirmation Hearing Scheduled for Aug. 25 ------------------------------------------------------------ Judge John K. Sherwood of the U.S. Bankruptcy Court for the District of New Jersey conditionally approved the Second Amended Disclosure Statement describing Second Amended Plan of J.F.M. 6090, Inc. d/b/a Burger King and affiliates. The Disclosure Statement is conditionally approved as containing adequate information in accordance with section 1125 of the Bankruptcy Code and is subject to final approval of the Court at the Combined Hearing. The Debtors' request for a Combined Hearing on the final approval of the Disclosure Statement and confirmation of the Plan, and the following Confirmation Schedule, are approved: * August 18, 2026 is fixed as the last day for filing and serving written objections to the First Amended Disclosure Statement and confirmation of the First Amended Plan. * August 18, 2026 is fixed as the last day for filing written acceptances or rejections of the First Amended Plan. * A hearing shall be held on August 25, 2026 at 10:00 AM for final approval of the First Amended Disclosure Statement and for confirmation of the First Amended Plan. In a court filing, the reorganization plan is based on the continued operation of these new restaurants. However, because the new restaurants had not yet begun operating when the disclosure statement was filed, the financial projections are based on estimates, and creditors are advised to perform their own analysis. The projections may differ from the restaurants' historical performance as Burger King franchises. General unsecured creditors (Class 4) are expected to receive quarterly payments of $5,000 beginning February 1, 2028, for 12 consecutive quarters, with no interest. The debtors estimate approximately $500,000 in total Class 4 claims, resulting in an estimated recovery of about 12% of each allowed claim. On the plan's effective date: * Existing equity interests will be extinguished. * New ownership of the reorganized debtors will be issued to Ranjana Jethwa in exchange for a $50,000 new value contribution. The plan will be funded through the operating revenues of the reorganized restaurants. The debtors also estimate approximately $75,000 in transition costs to remove Burger King signage and branding before the effective date. Upon the effective date, all estate property and causes of action will vest in the reorganized debtors free of most claims and liens, except those specifically preserved under the plan. The reorganized debtors will be able to operate their businesses, manage assets, settle claims, and pay professional fees without ongoing supervision or approval from the Bankruptcy Court, except as otherwise provided in the plan. Counsel to the Debtors: Richard D. Trenk, Esq. Robert S. Roglieri, Esq. Stephen M. Gengaro, Esq. TRENK ISABEL SIDDIQI & SHAHDA 290 W Mount Pleasant Ave., Suite 2370 Livingston, NJ 07039 Telephone: (973) 533-1000 Facsimile: (973) 216-7000 Email: rtrenk@tisslaw.com Email: rroglieri@trenkisabel.law Email: sgengaro@trenkisabel.law A copy of the Court's Order dated July 21, 2026, is available at https://urlcurt.com/u?l=UFjvqA from PacerMonitor.com. About J.F.M. 6090, Inc. J.F.M. 6090, Inc., based in Paterson, New Jersey, operates a Burger King restaurant in Paterson, serving customers through the fast-food chain's hamburger-focused menu, including its flame grilled Whopper sandwiches and related quick-service restaurant offerings. J.F.M. 6090, Inc. filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. D.N.J. Case No. 26-15123) on May 5, 2026, listing $11,500 in assets and $4,327,288 in liabilities. The petition was signed by Ranjana Jethwa as president. Richard D. Trenk, at TRENK ISABEL SIDDIQI & SHAHDANIAN P.C. serves as the Debtor's counsel. JACKSON BROWN: Case Summary & Eight Unsecured Creditors ------------------------------------------------------- Debtor: Jackson Brown Court Apartments LLC 531 Roselane St NW, Ste 400-142 Marietta, GA 30060 Business Description: Jackson Brown Court Apartments LLC is a single-asset real estate company whose primary assets are located at 1055 Lancashire Circle in Stone Mountain, Georgia. Chapter 11 Petition Date: July 28, 2026 Court: United States bankruptcy Court Northern District of Georgia Case No.: 26-59820 Judge: Hon. Paul Baisier Debtor's Counsel: Thomas T. McClendon, Esq. JONES & WALDEN LLC 699 Piedmont Avenue NE Atlanta, GA 30308 Tel: 404-564-9300 Fax: 404-564-9301 E-mail: tmcclendon@joneswalden.com Estimated Assets: $100,000 to $500,000 Estimated Liabilities: $10 million to $50 million The petition was signed by William Brown as authorized person. A full-text copy of the petition, which includes a list of the Debtor's eight unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/J4YUHPI/Jackson_Brown_Court_Apartments__ganbke-26-59820__0001.0.pdf?mcid=tGE4TAMA JONES ENTERPRISE: Claims to be Paid from Rental Income ------------------------------------------------------ Jones Enterprise & Investments, LLC, filed with the U.S. Bankruptcy Court for the District of South Carolina a Disclosure Statement describing Plan of Reorganization dated July 20, 2026. The Debtor is a South Carolina limited liability company formed on February 20, 2020. It is owned by Jacqueline Sims-Jones (80%) and Kevin Jones (20%), who are husband and wife. Although the company was created to engage in commercial business activities, including owning and renting investment real estate, it had never operated a business or generated income before filing for bankruptcy. The debtor's only asset is a condominium located in Myrtle Beach, South Carolina, purchased on July 8, 2022, using a $191,000 loan from United Bank. As of the bankruptcy petition date (February 6, 2026), approximately $178,547 remained owed on the loan. The debtor's financial problems resulted from unpaid homeowners association (HOA) assessments owed to the Myrtle Beach Resort Property Regime. After the HOA initiated foreclosure proceedings in March 2023, the state court determined that the debtor owed the HOA more than $36,000. To prevent foreclosure of its only asset, the debtor filed for Chapter 11 bankruptcy on February 6, 2026, seeking to preserve the property and restructure its obligations. The Plan of Reorganization proposes to retain the condominium and operate it as an income-producing vacation rental instead of allowing it to be sold through foreclosure. Since filing bankruptcy, the debtor has marketed and rented the property through Airbnb, Vrbo, and direct private rentals, generating rental income and securing, or expecting to secure, seasonal "snowbird" rentals. The debtor believes this transition from a non-income-producing asset to a rental business increases the estate's value and creates recurring income to repay creditors. The primary goal of the plan is to cure the HOA arrearage using rental income and, if necessary, additional financial contributions from the company's members. The debtor believes preserving and operating the property will provide creditors with a greater recovery than a foreclosure sale, particularly because the property retains significant equity after payment of the United Bank mortgage. Under the plan: * Administrative expenses, including court-approved professional fees and United States Trustee fees, will be paid in full. * Priority tax claims will be paid in accordance with the Bankruptcy Code. * General unsecured creditors will receive distributions from the debtor's net operating income after payment of secured debt, administrative expenses, and priority claims. The debtor reserves the right to object to claims before the bankruptcy case is closed. * The ownership interests of Jacqueline Sims-Jones and Kevin Jones will remain unchanged, and they will continue managing the property and its rental operations throughout the plan. Class 5 General Unsecured Claims consists of: * Truist Bank: $5,683.39 * Myrtle Beach Resort Property Regime (unsecured deficiency): $16,995.62 * Internal Revenue Service (disputed): $30,840.00 Allowed Class 5 claims will receive pro rata distributions from funds remaining after payment of all secured, priority, and administrative claims. The debtor asserts that the plan is feasible because the condominium has generated consistent rental income since the bankruptcy filing, with expectations of continued revenue from historical occupancy, seasonal demand, and recurring long-term winter rentals. The debtor believes the plan will maximize the value of the estate and provide creditors with a greater recovery than liquidation or foreclosure. A full-text copy of the Disclosure Statement dated July 20, 2026 is available at https://urlcurt.com/u?l=B8nurU from PacerMonitor.com at no charge. Counsel to the Debtor: Jason M. Ward, Esq. Jason Ward Law, LLC 414-D Pettigru St. Greenville, SC 29601 Telephone: (864) 239-0007 E-mail: Jason@wardlawsc.com About Jones Enterprise & Investments Jones Enterprise & Investments, LLC is a South Carolina limited liability company that was organized for the purpose of engaging in commercial business activities. The Debtor filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. D.S.C. Case No. 26-00549) on February 6, 2026, with $100,001 to $500,000 in both assets and liabilities. Judge Elisabetta Gm Gasparini presides over the case. Jason Michael Ward, Esq., at Jason Ward Law, LLC represents the Debtor as bankruptcy counsel. KONA COAST: Appoints Eric Taube of ET Mediation as Mediator ----------------------------------------------------------- Kona Coast Venture, Ltd. and Hideout on the Horseshoe, LLC filed an emergency motion seeking approval from the U.S. Bankruptcy Court for the Western District of Texas to appoint Eric Taube of ET Mediation as mediator. Mr. Taube will mediate and facilitate the resolution of outstanding disputed items between the Debtors and the Lender, and any other parties in interest as may be appropriate. The Debtors require the assistance of the Proposed Mediator to advance negotiations essential to the reorganization in these Chapter 11 Cases. Mr. Taube's compensation shall be a flat fee of $8,500 for a full day of mediation. An additional compensation at a rate of $1,000 per hour for additional time. Mr. Taube assured the court that he is a disinterested person under the Bankruptcy Code. Mr. Taube can be reached at: Eric Taube ET Mediation Austin, TX 78716 Phone: (512) 567 5997 Email: Ericjaytaube@gmail.com About Kona Coast Venture Ltd. Kona Coast Venture Ltd. is a New Braunfels, Texas-based entertainment and hospitality company that owns and operates Whitewater Amphitheater, one of Central Texas' premier outdoor live music venues. Situated along the Guadalupe River, the venue opened in 2007 and has become a popular destination for country, rock, Americana, and Texas music performances. Kona Coast Venture Ltd. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Tex. Case No. 26-51866) on July 7, 2026. In its petition, the Debtor reports estimated assets between $10 million and $50 million and estimated liabilities between $1 million and $10 million. Honorable Bankruptcy Judge Aubrey L. Thomas handles the case. The Debtor is represented by Lynn Hamilton Butler, Esq. of Husch Blackwell LLP. KONA COAST: Taps Gregory S. Milligan of Harney Partners as CRO -------------------------------------------------------------- Kona Coast Venture, Ltd. and Hideout on the Horseshoe, LLC seek approval from the U.S. Bankruptcy Court for the Western District of Texas to hire HMP Advisory Holdings, LLC d/b/a Harney Partners to provide financial advisory services, and designate Gregory S. Milligan as chief restructuring officer. The firm will render these services: a. serve as CRO for the Debtors; b. serve as professional consultants to the Debtors; c. assist the Debtors and their counsel with general matters related to the Bankruptcy Cases; d. assist the Debtors with preparation of financial information pertaining to estate assets, liabilities, cash flows, financial statements, and projections, as required by the Debtors' lender, potential acquisition parties, and other stakeholders; e. assist in the preparation of post-petition financing budgets and related documents, to support the successful completion of the Cases; f. assist in the analysis of assets and liabilities of the Debtors and potential amendments to the Schedules and Statement of Financial Affairs; g. assist in the review of financial information exchanged between the Debtors and their creditors, any regulatory agencies, consultants, prospective investors/purchasers, or other third parties, as may be necessary or appropriate; h. assist the Debtors with preparation of any bankruptcy-required reporting, including Monthly Operating Reports (MOR); i. provide support for the development of a plan of reorganization, sale process, and/or other disposition of the Debtors; j. coordinate with the Debtors and any of the other professionals retained by the Debtors in these Cases; and k. other services as may be agreed upon between the parties. The firm will be paid at these hourly rates: President/Executive Vice President $700 to $900 Managing Directors $550 to $750 Director/Senior Manager $450 to $600 Manager $350 to $500 Senior Consultant $300 to $400 Support Staff $180 to $250 Greg Milligan, Executive Vice President $725 Erik White, Managing Director $625 Michael Lynch, Senior Consultant $450 Mr. Milligan, executive vice president of Harney Partners, assured the court that the firm is a "disinterested person," as that term is defined in section 101(14) of the Bankruptcy Code. The firm can be reached through: Gregory S. Milligan, CTP HMP Advisory Holdings, LLC d/b/a Harney Partners Westech 360 8911 North Capital of Texas Highway, Suite 2120 Austin, TX 78759 Phone: (512) 464-1139 Mobile: (512) 626-1818 Email: gmilligan@harneypartners.com About Kona Coast Venture Ltd. Kona Coast Venture Ltd. is a New Braunfels, Texas-based entertainment and hospitality company that owns and operates Whitewater Amphitheater, one of Central Texas' premier outdoor live music venues. Situated along the Guadalupe River, the venue opened in 2007 and has become a popular destination for country, rock, Americana, and Texas music performances. Kona Coast Venture Ltd. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Tex. Case No. 26-51866) on July 7, 2026. In its petition, the Debtor reports estimated assets between $10 million and $50 million and estimated liabilities between $1 million and $10 million. Honorable Bankruptcy Judge Aubrey L. Thomas handles the case. The Debtor is represented by Lynn Hamilton Butler, Esq. of Husch Blackwell LLP. KWR BEDFORD: Voluntary Chapter 11 Case Summary ---------------------------------------------- Debtor: KWR Bedford LLC 171 Bedford Avenue Brooklyn NY 11211 Business Description: KWR Bedford LLC is a single-asset real estate company. Chapter 11 Petition Date: July 21, 2026 Court: United States Bankruptcy Court Eastern District of New York Case No.: 26-43481 Judge: Hon. Elizabeth S. Stong Debtor's Counsel: Vincent M. Lentini, Esq. 1129 Northern Blvd. Ste. 404 Manhasset, NY 11030 Tel: (516) 228-3214 E-mail: VincentMLentini@gmail.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million KWR Bedford LLC's petition was signed by Krzysztof Rybkiewicz, a managing member. 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/4RR5MDY/KWR_Bedford_LLC__nyebke-26-43481__0001.0.pdf?mcid=tGE4TAMA LAKE BUENA VISTA: Court Extends Cash Collateral Access to Sept. 30 ------------------------------------------------------------------ Lake Buena Vista Investments, LLC received another extension from the U.S. Bankruptcy Court for the Middle District of Florida, Orlando Division to use cash collateral. The court issued a sixth interim order extending the Debtor's authority to use cash collateral through September 30 to fund regular business expenses as outlined in its budget. To facilitate this, Wilmington Trust, N.A., DBR Investments Co. Limited's successor-in-interest, was directed to immediately release necessary funds from the Debtor's lockbox account so that the Debtor could continue operations without disruption. The Debtor may vary budgeted expenses by up to 10% per line item and 10% overall. Professional fees included in the budget may not be paid until the court grants further approval. The budget projects total operational expenses of $375,544 from July to September. To protect Wilmington Trust's interest, the court granted the secured lender a post-petition lien on all cash generated after the bankruptcy filing, but only to the extent and in the order of priority of any existing valid pre-bankruptcy lien. This lien is deemed automatically perfected without the need for additional filings or documentation. The Debtor must also make a $108,000 interest payment. The next hearing is set for September 15. Wilmington Trust, as secured lender, is represented by: Morgan L. Swing, Esq. Duane Morris LLP 201 S. Biscayne Blvd., Suite 3400 Miami, FL 33131 Telephone: 305-960-2200 Facsimile: 305-960-2201 mlswing@duanemorris.com About Lake Buena Vista Investments LLC Lake Buena Vista Investments, LLC is a Florida-based limited liability company engaged in activities related to real estate under NAICS 5313. Its principal assets are located at 12341-12353 Winter Garden Vineland Road in Orlando, Florida, a site encompassing hospitality and commercial properties. Lake Buena Vista Investments sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 25-06768) on October 21, 2025, listing between $10 million and $50 million in both assets and liabilities. The petition was signed by Jack Flechner as manager. Judge Hon. Grace E Robson oversees the case. The Debtor is represented by Aaron A. Wernick, Esq., at Wernick Law, PLLC. LAKE EFFECT: Court Extends Cash Collateral Access to Aug. 12 ------------------------------------------------------------ Lake Effect Investments, Inc. received third interim approval from the U.S. Bankruptcy Court for the Middle District of Florida, Fort Myers Division, to use cash collateral. The court authorized the Debtor to use cash collateral in accordance with its approved budget, allowing a 10% variance for each budget line item. Professional fees may not be paid without separate court approval and any expenditures outside the budget could expose the Debtor to remedies by the U.S. Small Business Administration, a secured creditor. The Debtor's budget projects total operational expenses of $137,400. As adequate protection, the SBA and other creditors asserting security interests in the cash collateral will be granted replacement liens on post-petition accounts receivable, with the same validity, priority, and extent as their pre-petition liens. The Debtor is also required to maintain insurance on its property and submit a proposed updated budget, including a budget-to-actual variance report, before the next hearing. The order is available at http://bankrupt.com/misc/LakeEffectInvestments_CCOrder67.pdf A continued hearing is scheduled for August 12. About Lake Effect Investments Inc. Lake Effect Investments, Inc. is a privately held investment company based in Florida that is primarily engaged in real estate investment and asset management. It focuses on acquiring and managing property-related holdings, including residential and commercial real estate assets. Lake Effect Investments sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 26-01062) on May 5, 2026. In its petition, the Debtor reported assets of between $50,001 and $100,000 and liabilities of between $1 million and $10 million. Ruediger Mueller of TCMI, Inc. serves as Subchapter V trustee for the Debtor. The Debtor is represented by Jonathan M. Bierfeld, Esq., at Martin Law Firm P.L. Ruediger Mueller of TCMI, Inc. serves as Subchapter V trustee for the Debtor. LIA HOSPITALITY: Final Hearing Today on Bid to Obtain DIP Loan -------------------------------------------------------------- The U.S. Bankruptcy Court for the Southern District of Indiana is set to hold a final hearing today on the motion filed by Lia Hospitality Group LLC's Chapter 11 trustee to obtain debtor-in-possession financing. Meredith Theisen, the Debtor's bankruptcy trustee, was initially authorized to obtain DIP financing as well as use cash collateral under the court's July 21 interim order. The order is available at http://bankrupt.com/misc/LiaHospitality_DIPOrder162.pdf Under the terms negotiated with lenders, Ash Realty SPE IV, LLC and Merchants Bank of Indiana, the trustee will secure DIP financing at a 0% interest rate through a two-part funding mechanism: a direct loan capped at $55,000 (unless increased by mutual written agreement) alongside a carveout from the net sale proceeds of the commercial property in Muncie, Indiana. The trustee intends to use the financing to maintain the real estate and the personal property located therein until a closing of the sale of those properties; to pay Patidar Hotel Management Inc. under a property services agreement; and pay the quarterly fees of the U.S. trustee overseeing the Debtor's Chapter 11 case. To cover any post-closing shortfall in expected administrative and property upkeep expenses, the parties agreed to establish a no-fee escrow account from sale proceeds, with the DIP lenders committed to advancing additional funds if necessary. The obligation of the Debtor's estate to repay the lenders is without interest and contingent upon the liquidation and administration of its assets other than the Muncie real estate and personal property. The Debtor's obligations under the DIP financing are secured by a first priority lien on assets acquired before and after its bankruptcy filing. Moreover, the total amount of the financing will constitute an allowed senior administrative expense, with priority over other administrative expenses and claims against the Debtor's estate. Both the liens and superpriority claims remain subordinate to the carveout. Ash Realty and Merchants Bank of Indiana assert interest in substantially all assets of the Debtor and its affiliate Raliam Hospitality Group, LLC. According to the lenders, the Debtor owed approximately $2.96 million as of the petition date, plus legal fees, accrued interest, costs, and other amounts due under their pre-petition loan agreements, which are secured by liens on the Debtor's real and personal property. The Debtor originally filed its voluntary Chapter 11 petition on March 23, and the U.S. Trustee subsequently appointed Ms. Theisen in May. Prior to the bankruptcy filing, the Debtor incurred approximately $2.96 million to $3.25 million in secured debt under a January 2021 Small Business Administration loan, mortgage, assignment of rents, and deposit account pledge originally issued by Merchants Bank of Indiana and assigned in part to Ash Realty. The DIP lenders are represented by: Kay Dee Baird, Attorney No. 28821-73 Cassandra Nielsen, Attorney No. 31440-49 Krieg Devault, LLP One Indiana Square, Suite 2800 Indianapolis, IN 46204-2079 Telephone: (317) 636-4341 (Main) Facsimile: (317) 636-1507 kbaird@kdlegal.com cnielsen@kdlegal.com About Lia Hospitality Group LLC Lia Hospitality Group LLC operates the Baymont Inn in Muncie, Indiana, overseeing daily hotel operations, guest services, maintenance, and property management. Lia Hospitality Group LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Ind. Case No. 26-01663) on Mar. 23, 2026. In the petition signed by Chirag Patel, vice president, the Debtor disclosed up to $10 million in assets and up to $10 million in liabilities. Judge Andrea K. McCord oversees the case. Preeti Gupta, Esq., serves as the Debtor's counsel. LOCK 27 BREWING: Unsecureds Will Get 4.4% of Claims in Plan ----------------------------------------------------------- Lock 27 Brewing, LLC filed with the U.S. Bankruptcy Court for the Southern District of Ohio a Subchapter V Plan of Reorganization dated July 21, 2026. Lock 27 Brewing, LLC is an Ohio corporation formed in November 2012 and is wholly owned by Charles S. Barnhart (also known as Stephen Barnhart). The company operates a restaurant, bar, and craft brewery at its location in Centerville, Ohio. It currently employs 14 hourly employees and 3 salaried employees, including Charles and Michelle Barnhart. Since filing for Chapter 11 bankruptcy, the company states that the automatic stay has allowed it to stabilize operations and prepare a reorganization plan. Despite challenges from the COVID-19 pandemic and a decline in the craft brewing market, Lock 27 has reduced its operations to a level it believes is sustainable and profitable. The business has returned to its original location, reduced expenses, streamlined operations, and seeks to address debts related to a prior expansion that it can no longer support. The company believes its plan will enable it to cure lease arrearages, pay secured creditors in full, and provide a distribution to unsecured creditors. The plan divides unsecured claims into three classes: * Class UN-B consists of the unsecured portion of partially secured claims. Fifth Third filed a proof of claim that includes an unsecured claim of $240,545.14. Allowed claims will receive pro rata quarterly distributions after disputed claims are resolved. * Class UN-UL includes creditors that have asserted security interests but whose claims are determined to be wholly unsecured. The class is expected to include CityWide Small Business Development Corporation and the United States Small Business Administration. Allowed claims will also receive pro rata quarterly distributions after disputed claims are resolved. * Class UN-G includes all other allowed unsecured claims not included in another class. These claims will receive the same pro rata quarterly distributions after disputed claims are resolved. The total unsecured claims pool for Classes UN-B, UN-UL, and UN-G is estimated at approximately $542,169.20. This estimate reflects Charles Barnhart's agreement to waive his $869,202.79 claim against the Debtor, which increases the distribution available to other unsecured creditors. He has also agreed to limit his annual salary to $35,880 for the duration of the plan. The claims bar date was July 9, 2026. Under the projections, unsecured creditors in Classes UN-B, UN-UL, and UN-G will receive a total distribution of $24,000, representing approximately 4.4% of allowed unsecured claims. Class E consists of all equity interests. Existing equity holders will retain their ownership interests, and Charles Barnhart will continue managing the business while maintaining his 100% ownership. The reorganization plan will be funded through cash flow from operations and debtor-in-possession financing. The Debtor also reserves the right to modify payment terms with individual creditors if mutually agreed upon without requiring a modification to the overall plan. A full-text copy of the Subchapter V Plan dated July 21, 2026 is available at https://urlcurt.com/u?l=KC9mHs from PacerMonitor.com at no charge. Counsel for the Debtor: Denis E. Blasius, Esq. Darlene E. Fierle, Esq. Ira H. Thomsen, Esq. Elizabeth M. Chinault, Esq. Thomsen Law Group, LLC 140 North Main Street, Suite A Springboro, OH 45066 Telephone: (937) 748-5001 Facsimile: (937) 404-6630 Email: dblasius@ihtlaw.com About Lock 27 Brewing LLC Lock 27 Brewing LLC, established in 2012, is a craft brewery based in Centerville, Ohio. The company brews beer and distributes its products to bars and retailers in Ohio. Its name references the Miami & Erie Canal and Lock 27 in Miamisburg, Ohio. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Ohio Case No. 26-30874) on April 22, 2026. In the petition signed by Charles S. Barnhart, president, the Debtor disclosed up to $50,000 in assets and up to $10 million in total liabilities. Judge Tyson A. Crist oversees the case. Denis E. Blasius, Esq., at Thomsen Law Group, LLC represents the Debtor as counsel. LOUIS INVESTMENTS: Taps Lerner Harris Law as Special Counsel ------------------------------------------------------------ Louis Investments, LLC seeks approval from the U.S. Bankruptcy Court for the Northern District of Texas to hire Lerner Harris Law as special counsel. The firm will represent Debtor in two adversary proceedings pending in this case: (1) Louis Investments, LLC v. YSA Investments 1, LLC, Adv. Case No. 26-03071, filed on July 20, 2026 (the Stay Violation Action); and (2) Louis Investments, LLC et al. v. YSA Investments 1, LLC, Adv. Case No. 26-03074, filed on July 21, 2026. The firm will be paid at these hourly rates: Leib Lerner $750 Douglas Harris $600 Mendel Schochet $500 As disclosed in the court filing, Lerner Harris Law is a "disinterested person" within the meaning of 11 U.S.C. Sec. 101(14). The firm can be reached through: Leib M. Lerner, Esq. Douglas J. Harris, Esq. LERNER HARRIS LAW 9350 Wilshire Blvd., Suite 203 Beverly Hills, CA 90212 Telephone: (310) 742-5590 Email: leib.lerner@lernerharris.com douglas.harris@lernerharris.com About Louis Investments LLC Louis Investments, LLC is a single-asset real estate company. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Tex. Case No. 26-33110) on July 10, 2026, with $10 million to $50 million in assets and liabilities. Marc Kulick, authorized signer, signed the petition. Joyce Lindauer, Esq. at LINDAUER & VAUGHN represents the Debtor as legal counsel. LTR HOLDINGS: Unsecureds Will Get 83.16% of Claims over 5 Years --------------------------------------------------------------- LTR Holdings, LLC, d/b/a Wolf Disposals filed with the U.S. Bankruptcy Court for the Middle District of Louisiana a First Amended Subchapter V Plan dated July 20, 2026. The Debtor is a Louisiana limited liability company that owns and operates a waste management and disposal business in Tensas Parish, Louisiana. The plan states that, in a hypothetical Chapter 7 liquidation, unsecured creditors would receive $0.00. Under the proposed reorganization plan, the debtor proposes to pay holders of allowed general unsecured claims a total present value of $880,151.62, representing the full amount of those claims. Holders of allowed general unsecured claims are expected to receive a present value equal to approximately 83.16% of their allowed claims, which is greater than the estimated recovery in a Chapter 7 liquidation. The debtor's financial projections indicate that, after paying necessary operating expenses, unclassified claims, and secured claims, it will generate projected disposable income over a five-year period. The plan proposes to use this projected disposable income to fund payments to allowed claims. Treatment of Claims Class 1 Convenience Claims: * On the effective date, each holder of an allowed convenience claim will receive a single cash payment equal to the lesser of: -- $2,000.00, or -- The full allowed amount of the claim. * Holders of unsecured claims may elect to receive this treatment instead of Class 2 treatment and, by doing so, are deemed to accept the plan. Class 2 General Unsecured Claims: * Holders of allowed general unsecured claims will be paid the amount of their allowed claims over five years. * Payments will include 2.75% annual interest and be made in equal monthly installments beginning on the initial distribution date and continuing for 59 additional monthly payments. * Holders may instead elect Class 1 convenience claim treatment, thereby waiving their Class 2 treatment. * Because these claims are impaired, holders are entitled to vote to accept or reject the plan. Class 3 Secured Claims: * Each secured claim is treated as a separate subclass. * Holders of allowed secured claims will be paid the full amount of their allowed claims over five years. * Payments will include 6.5% annual interest and be made in equal monthly installments beginning on the initial distribution date and continuing for 59 additional monthly payments. Beginning on the effective date and continuing throughout the five-year commitment period, the debtor will apply its projected disposable income toward payments on allowed claims in accordance with the classifications and treatment set forth in the plan. A full-text copy of the First Amended Plan dated July 20, 2026 is available at https://urlcurt.com/u?l=SzwtEx from PacerMonitor.com at no charge. Counsel for the Debtor: Ryan J. Richmond, Esq. Sternberg, Naccari & White, LLC 450 Laurel Street, Suite 1450 Baton Rouge, LA 70801 Telephone: (225) 412-3667 Facsimile: (225) 286-3046 Email: ryan@snw.law About LTR Holdings LTR Holdings LLC, doing business as Wolf Disposals, provides solid waste management and debris hauling services across northeast Louisiana, parts of Mississippi, and areas along the Mississippi River. Its services include: residential garbage collection, bulky and yard waste pickup, and roll-off dumpsters; commercial and industrial waste containers, compactors, balers, and heavy equipment debris removal; and portable restroom services. LTR Holdings filed a Chapter 11 petition (Bankr. M.D. La. Case No. 25-11171) on December 22, 2025, listing estimated assets of up to $500,000 and estimated liabilities of up to $10 million. Lamont T. Roach, president, signed the petition. The Debtor tapped Ryan J. Richmond, Esq., at Stenberg, Naccari & White, LLC as counsel. M & M BUCKLEY: Seeks to Extend Plan Exclusivity to Sept. 30 ----------------------------------------------------------- M & M Buckley, LLC asked the U.S. Bankruptcy Court for the Northern District of Illinois to extend its exclusivity periods to file a plan of reorganization and obtain acceptance thereof to Sept. 30 and Nov. 13, 2026, respectively. Since the commencement of this Chapter 11 case, the Debtor has implemented measures that have resulted in increased revenues and reduced operating expenses. Effective August 1, 2026, the Real Property generates total monthly rental income of $17,948.00, as reflected in the rent roll attached hereto as Exhibit A and incorporated herein by reference. Since the petition date, the Debtor has successfully leased previously vacant space, increasing monthly rental income from $11,900.00 to $17,948.00, thereby substantially improving the property's operating performance. In addition, the Debtor has applied for and is actively pursuing a Class 8 designation for the Real Property through Cook County's Class 8 Incentive Program. If approved, the Real Property will benefit from a substantially reduced assessment level for real estate tax purposes. Specifically, the property will be assessed at 10% of its market value during the first ten years of the incentive period, 15% during the eleventh year, and 20% during the twelfth year, rather than the standard commercial assessment level of 25%. The Debtor explains that while the approval of the Class 8 designation is not vital to its reorganization, if approved, it is expected to significantly reduce the Debtor's real estate tax obligations, enhance cash flow, and further strengthen the feasibility of the Debtor's proposed plan of reorganization. Since the filing of this case, the Debtor has materially improved its financial performance by increasing rental income, reducing expenses, and actively pursuing significant real estate tax relief through the pending Class 8 application. The Debtor asserts that additional time will permit the Debtor to demonstrate, through its monthly operating reports, that the increased rental revenue is stable and recurring, while also allowing the Debtor to obtain a determination on its pending Class 8 application. The Debtor further asserts that the developments will substantially strengthen the feasibility of the Debtor's proposed plan of reorganization and address the concerns regarding feasibility previously raised by JTS. M & M Buckley Management Inc. is represented by: Gregory K. Stern, Esq. Monica C. O'Brien, Esq. Gregory K. Stern, P.C. 53 West Jackson Boulevard, Suite 1442 Chicago, IL 60604 Telephone: (312) 427-1558 About M & M Buckley Management M & M Buckley Management, Inc. is a professional property management company based in Richton Park, IL. It specializes in managing residential and commercial properties. M & M sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 24-19108) on December 23, 2024, with $1 million to $10 million in both assets and liabilities. Melvin T. Buckely, Jr., president of M & M, signed the petition. Judge Janet S. Baer handles the case. The Debtor is represented by Gregory K. Stern, Esq., at Gregory K. Stern, P.C. Secured creditor Community Loan Servicing is represented by Jill Sidorowicz, Esq. at Noonan & Lieberman, Ltd. MAMBA PURCHASER: S&P Affirms 'B' Rating on Sr Sec. First-Lien Debt ------------------------------------------------------------------ S&P Global Ratings affirmed its 'B' issue-level rating on Mamba Purchaser Inc.'s senior secured first-lien debt following the company's proposed $195 million add-on to its $905 million term loan B due October 2031. At the same time, S&P revised the recovery rating on the company's term loan and $70 million revolver to '4' from '3'. The '4' recovery rating indicates its expectation of average (30%-50%; rounded estimate: 45%) recovery in the event of a payment default. S&P said, "We expect the company to use the proceeds from the term loan add-on, in addition to $55 million cash on hand, to fund a $250 million dividend to its existing shareholders. The revision in our recovery ratings reflects a modest deterioration in estimated recovery prospects in a default scenario due to a higher amount of debt, the tolerance for relatively high levels of leverage, and a relatively asset-lite business model. "Our 'B' issuer credit rating and stable ratings outlook on the company are unaffected. We expect this transaction to increase adjusted debt by about 2x, from around 7.3x as of June 30, 2026, which is close to our downside threshold of 10x for the rating. That said, the rating has support from our expectation for annual cash flow generation to exceed 3% of debt, and we believe that the company has good prospects to reduce leverage back to low-7x by 2028. "More broadly, the ratings also reflect the discretionary and out-of-pocket nature of the company's concierge healthcare services, as well as its modest scale, which we view as constraints relative to similarly rated healthcare services peers. These constraints offset the company's position as the largest provider of concierge healthcare services in the U.S., its lack of reimbursement risk from government and commercial payors, our expectations for robust high-single-digit percent annual revenue growth and annual cash flow generation to exceed 3% of debt. "We expect growth from a steady increase in member patients, annual price increases, and an expanding base of employed physicians. We also anticipate EBITDA margins will remain relatively stable, as operating leverage is likely to be offset by continued investments in marketing and infrastructure to support growth." Issue Ratings--Recovery Analysis Key analytical factors -- Mamba's capital structure will comprise a $70 million revolver and a $1.096 billion first-lien term loan (including the proposed $195 million first-lien add-on). -- S&P's simulated default considers a sharp economic downturn and a significant loss of members or physician partners. -- S&P assumes that in a default scenario, the revolver will be 85% drawn. Given its market-leading position and the continued demand for its services, it believes Mamba would remain a viable business and, therefore, would reorganize rather than liquidate following a payment default. -- S&P values the company on a going-concern basis using a 5.5x multiple of its projected emergence EBITDA, consistent with S&P's treatment of similar peers. Simulated default assumptions -- Year of default: 2029 -- EBITDA at emergence: $106 million -- Implied enterprise value multiple: 5.5x Simplified waterfall -- Net emergence value (after 5% administrative costs): $556 million -- Valuation split (obligors/nonobligors): 100%/0% -- Collateral value available to first-lien lenders: $556 million -- First-lien debt: $1152 million --Recovery expectations: 30%-50% (rounded estimate: 45%) All debt amounts include six months of prepetition interest. MARINE WHOLESALE: Gets Court Nod to Use Cash Collateral ------------------------------------------------------- Marine Wholesale and Warehouse, Co. got the green light from the U.S. Bankruptcy Court for the Central District of California, Los Angeles Division, to use cash collateral. Under the court order, the Debtor is authorized to use cash collateral from July 26 through January 31, 2027, or earlier upon effectivity of its Chapter 11 plan, conversion or dismissal of its bankruptcy case, or further court order. The Debtor is required to operate within the approved budget, with a permitted 10% variance per line item and in the aggregate; and file a new motion requesting further authorization if it seeks to continue using cash collateral beyond January 31, 2027. The U.S. Small Business Administration and all holders of perfected security interests in the Debtor's cash collateral will be granted adequate protection through replacement liens on substantially all of the Debtor's post-petition assets except recoveries from avoidance actions. These replacement liens maintain the same validity, priority, and extent as the creditors' pre-petition liens. The order also provides additional adequate protection to the SBA by requiring the Debtor to continue its monthly payments of $731 under the pre-petition loan agreements. In addition, the Alcohol and Tobacco Tax and Trade Bureau is authorized to continue holding approximately $213,699.30 in funds that it levied before the bankruptcy filing, pending further order of the court. A copy of the court's order is available at https://shorturl.at/BNLpP from PacerMonitor.com. About Marine Wholesale and Warehouse Co. Marine Wholesale and Warehouse Co. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Cal. Case No. 22-13785) on July 12, 2022. In the petition signed by Jennifer Hartry, vice president and secretary, the Debtor disclosed up to $50 million in both assets and liabilities. Judge Sheri Bluebond oversees the case. David R. Haberbush, Esq., at Haberbush, LLP is the Debtor's counsel. MARTIN CENTRAL: Seeks Chapter 11 Bankruptcy in Texas ---------------------------------------------------- On July 23, 2026, Martin Central Holdings LLC filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Southern District of Texas. According to court filings, the debtor reports between $100,000 and $500,000 in liabilities owed to 1-49 creditors. The petition lists estimated assets of $0 to $50,000 and estimated liabilities of $100,000 to $500,000. A meeting of creditors under Section 341(a) to be held on August 24, 2026 at 10:30 AM, US Trustee Houston Teleconference. Government Proof of Claim Must Be Filed by Jan. 25, 2027; Small Business Chapter 11 Plan Due Jan. 19, 2027. About Martin Central Holdings LLC Martin Central Holdings LLC is a Houston, Texas-based provider of flotation therapy and wellness services. Operating under the True REST Float Spa brand, the company manages multiple wellness centers in the Houston metropolitan area, offering sensory deprivation float therapy and related health and relaxation services. Martin Central Holdings LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 26-35322) on July 23, 2026. In its petition, the debtor reported estimated assets of $0 to $50,000 and estimated liabilities of $100,000 to $500,000. The Honorable Alfredo R. Pérez handles the case. The debtor is represented by Phillip Zagotti, Attorney at Law. MARTIN MIDSTREAM: Debts Exceed Assets by $90.2M at June 30 ---------------------------------------------------------- Martin Midstream Partners L.P.'s stockholder's deficit was US$90.2 million at June 30, 2026. The stockholder's deficit was US$85.8 million at Dec. 31, 2025. At June 30, 2026, the Company had total assets of US$547.4 million and total liabilities of US$637.6 million. At Dec. 31, 2025, the Company had total assets of US$522.4 million and total liabilities of US$608.2 million. The Company said its primary sources of liquidity to meet operating expenses, service its indebtedness, fund capital expenditures and pay distributions to its unitholders have historically been cash flows generated by its operations, borrowings under its credit facility and access to debt and equity capital markets, both public and private. As of June 30, 2026, the Company reported total contractual cash obligations of approximately US$609.0 million, including US$400.0 million of 11.5% senior secured notes due 2028, US$62.0 million outstanding under its US$115.0 million credit facility, and US$72.1 million of operating lease commitments. Net cash provided by (used in) operating activities decreased by US$26.5 million for the six months ended June 30, 2026, reflecting weaker operating results and higher working capital outflows, while net cash used in investing activities rose due to increased capital expenditures and plant turnaround costs. These cash outflows were largely offset by higher net borrowings, with net cash provided by financing activities increasing by US$35.4 million over the prior-year period. As of June 30, 2026, the Company had US$0.05 million in cash and cash equivalents, US$51.4 million of remaining availability under its credit facility, and the capacity to incur approximately US$48.3 million in additional borrowings after giving effect to financial covenants. The Company remains in compliance with all debt covenants and expects to maintain compliance over the next 12 months. A full-text copy of the Form 10-Q is available at https://www.sec.gov/Archives/edgar/data/1176334/000117633426000028/mmlp-20260630.htm About Martin Midstream Partners Martin Midstream Partners L.P. is a master limited partnership that provides diversified midstream services to the energy sector, including terminalling, storage, transportation and handling of petroleum products and byproducts. The Partnership typically operates fee-based, logistics-focused assets that support refiners, marketers and industrial customers along the U.S. Gulf Coast and in other key domestic markets. MARTINES PALMEIRO: Amends Unsecured Claims Pay ---------------------------------------------- Martines Palmeiro Construction, LLC, submitted a Second Amended Disclosure Statement to accompany Plan of Liquidation dated July 20, 2026. The debtor was formed in March 2011 by Michael Martines and Corey Palmeiro as a general contractor and performed large-scale construction projects throughout the Denver metropolitan area. On February 5, 2026, the debtor filed a Plan of Liquidation with the United States Bankruptcy Court for the District of Colorado. The plan provides for the liquidation of the company through the pursuit of remaining legal claims and the distribution of recovered funds to creditors. It also specifies the treatment of all creditors and interest holders. During the bankruptcy case, the debtor focused on resolving disputes with creditors and project owners. These efforts resulted in: * Resolution of more than 95 subcontractor claims through payments made by project owners. * A reduction of claims against the bankruptcy estate by approximately $16 million. Class 5 Allowed General Unsecured Claims will receive pro rata distributions from any funds recovered through avoidance actions or other legal claims after payment of litigation expenses and higher-priority claims. The plan requires the debtor to: * Notify the court, creditors, and interested parties within five business days after the settlement or final adjudication of any avoidance action or other cause of action. * Make distributions within ten business days after all litigation has concluded and funds have been received, net of attorney fees, expert fees, and other litigation costs. * Provide information accompanying each distribution so creditors can determine the amounts recovered and distributed for each allowed claim. The plan outlines several potential sources of recovery: * If the debtor settles its claims with Plaza without substantial litigation, it expects to have approximately $185,000 available for unsecured creditors after payment of the Class 1 and Class 4 claims using proceeds from the Bridgeford Litigation. * If substantial litigation with Plaza is required, proceeds from the Bridgeford claim may instead be used to fund that litigation. * The debtor has also identified significant claims against Frontier Fire and Genesis Framing, which could produce nearly $1 million for distribution to creditors if successful. * If the debtor prevails on its claims against Plaza, it anticipates at least another $1 million for unsecured creditors, depending on the final amount of allowed Class 5 claims. * The debtor continues to evaluate whether additional recoveries may become available for creditors. Under the plan, the debtor will have authority to carry out all actions necessary to implement the liquidation, make distributions, and manage any litigation that continues after plan confirmation. Michael Martines, Lajimodiere, and Liu are authorized to act on behalf of the debtor to complete its obligations under the plan, and no compensation will be paid to insiders for performing this work. The debtor states that the plan is feasible because it is a liquidation rather than a reorganization. Although recoveries depend on the outcome of litigation and are therefore uncertain, the debtor believes it is well positioned to pursue these claims because it is familiar with the underlying facts and issues. A full-text copy of the Second Amended Disclosure Statement dated July 20, 2026 is available at https://urlcurt.com/u?l=r13cit from PacerMonitor.com at no charge. Martines Palmeiro Construction LLC is represented by: Keri L. Riley, Esq. KUTNER BRINEN DICKEY RILEY, P.C. 1660 Lincoln Street, Suite 1720 Denver, CO 80264 Telephone: 303-832-2400 E-mail: klr@kutnerlaw.com About Martines Palmeiro Construction Martines Palmeiro Construction LLC is a Denver-based general contractor specializing in high-density residential, senior living, and retail commercial projects across Colorado and Texas. Founded in 2011, the firm offers services including general contracting, construction management, and design-build solutions. Martines Palmeiro Construction sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Colo. Case No. 25-12313) on April 21, 2025. In its petition, the Debtor reports estimated assets up to $50,000 and estimated liabilities between $10 million and $50 million. Judge Thomas B. McNamara oversees the case. The Debtor is represented by Jeffrey A. Weinman, at Allen Vellone Wolf Helfrich & Factor, PC. MATTHEW W. CERNIGLIA: Unsecureds to Get $300 per Month over 5 Years ------------------------------------------------------------------- Matthew W. Cerniglia, DPM, PA filed with the U.S. Bankruptcy Court for the Northern District of Texas a Plan of Reorganization dated July 20, 2026. The Debtor is a Texas professional association that operates the Ankle and Foot Institute of Texas, a podiatric medical practice in Fort Worth, Texas. The practice provides foot and ankle care, including advanced wound care and radial shockwave therapy. The bankruptcy filing was primarily caused by cash flow problems resulting from accumulated secured equipment debt and working capital obligations. The proposed reorganization plan restructures the debtor's financial obligations over a five-year period, with payments funded through the continued operation of the medical practice. Treatment of Secured Claims Class 1B Financial Pacific Leasing, Inc.: * Filed claims totaling approximately $43,767.18 under an equipment finance agreement. * The debtor will surrender the equipment collateral in full satisfaction of the secured portion of the claim. * Any remaining deficiency after the collateral is sold will be treated as a Class 3 unsecured claim, up to $43,767.18, reduced by the sale proceeds. Class 1C First United Bank & Trust Company: * Filed a claim of approximately $669,766.24. * Because the collateral is not property of the bankruptcy estate, the claim will be paid directly by Cerniglia Ventures, LLC, which owns the real property securing the debt. * No payment will be made from the estate unless the creditor is determined to hold an allowed claim against the estate, in which case it will be treated as a Class 3 unsecured claim. Class 1D Newlane Financial: * Scheduled secured claim of approximately $13,680.95. * The reorganized debtor will repay the claim in monthly installments of $272.52, plus interest, beginning the first full month after the plan becomes effective until paid in full. Class 1E Simmons Bank: * Filed a secured claim of approximately $379,632.65. * The reorganized debtor will repay the claim in monthly installments of $1,394.36, plus interest, beginning after the effective date until paid in full. Class 1F U.S. Small Business Administration: * Filed a claim of approximately $126,689.05. * Although the SBA asserts that part of the claim is secured, the debtor disputes the secured status and contends there is no valid lien. * The entire claim is proposed to be treated as a Class 3 unsecured claim. Class 1G USAA Federal Savings Bank: * Filed a secured claim of approximately $53,625.94. * The reorganized debtor will repay the claim in monthly installments of $1,068.19, plus interest, beginning after the effective date until paid in full. Priority Claims (Class 2). Allowed priority claims will be paid in cash on the effective date of the plan unless a creditor agrees to different treatment. Non-Priority Unsecured Claims (Class 3): * Allowed unsecured claims will be paid from an unsecured creditor pool funded with $300.00 per month beginning the first full month after the effective date. * Distributions will be made quarterly for up to five years (20 quarterly payments). * The debtor estimates total allowed Class 3 claims will be less than $1,229,000, including anticipated deficiency claims and claim objections. Following the effective date, the reorganized debtor will continue performing its obligations under assumed executory contracts and unexpired leases in accordance with the terms of the plan. A full-text copy of the Plan of Reorganization dated July 20, 2026 is available at https://urlcurt.com/u?l=11dIka from PacerMonitor.com at no charge. The Debtor's Counsel: Robert T DeMarco, Esq. DEMARCO MITCHELL, PLLC 12770 Coit Road, Suite 850 Dallas TX 75251 Tel: (972) 991-5591 Email: robert@demarcomitchell.com About Matthew W. Cerniglia Matthew W. Cerniglia, DPM, PA, doing business as Ankle and Foot Institute of Texas, is a Fort Worth, Texas-based physician-led podiatric practice that provides diagnostic, therapeutic, and surgical care for foot and ankle conditions. The practice offers routine services, including diabetic foot care and treatment of conditions such as plantar fasciitis and bunions, alongside reconstructive surgery, joint procedures, and wound management. Operating from a single outpatient location, it serves patients across the Fort Worth metropolitan area, including those referred for complex or chronic conditions. Matthew W. Cerniglia, DPM filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. N.D. Texas Case No. 26-41730) on April 20, 2026, with $163,804 in assets and $1,065,952 in liabilities. Frances Smith, at Ross, Smith & Binford, PC, serves as Subchapter V trustee. Judge Mark X. Mullin presides over the case. Robert T. DeMarco, Esq., at DeMarco Mitchell, PLLC, is the Debtor's legal counsel. MCGEACHY HOLDINGS: Gets Extension to Access Cash Collateral ----------------------------------------------------------- McGeachy Holdings, LLC received fourth interim approval from the U.S. Bankruptcy Court for the Eastern District of North Carolina, Fayetteville Division, to use cash collateral. Under the fourth interim order, the Debtor is authorized to use cash collateral to pay operating expenses in accordance with its budget. The Debtor may exceed an individual line item by up to 10% without prior approval. The Debtor's primary source of income is rental proceeds, which may constitute cash collateral because United Bank holds secured interests in the properties and associated rents through multiple loan agreements and deeds of trust. These loans, totaling over $1 million in original principal, are secured by various residential properties in Fayetteville. In addition to United Bank's secured claims, certain homeowners associations have recorded liens against specific properties for unpaid dues, and First Citizens Bank has obtained a judgment against the Debtor. As a result, multiple parties may have competing interests in the rental income generated by the properties. As protection, United Bank will be granted post-petition replacement liens on the same assets to which its liens attached pre-petition, with the same validity, priority and extent as existed on the petition date. The interim order remains in full force and effect until modification or termination of the order; entry of a subsequent interim or final cash collateral order; or the filing of a notice of default, whichever occurs first. The order is available at https://shorturl.at/gys8E from PacerMonitor.com. The next hearing is set for August 25. United Bank, as secured creditor, is represented by: James S. Livermon, III, Esq. Womble Bond Dickinson (US), LLP 555 Fayetteville Street, Suite 1100 Raleigh, NC 27601 Phone: (919) 755-2148 charlie.livermon@wbd-us.com About McGeachy Holdings LLC McGeachy Holdings, LLC is a North Carolina-based real estate company. McGeachy Holdings sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. N.C. Case No. 26-01995) on May 1, 2026, with up to $1 million in assets and up to $500,000 in liabilities. Donovan McGeachy, president and chief operating officer of McGeachy Holdings, signed the petition. Judge Joseph N. Callaway oversees the case. Laurie B. Biggs, Esq., at Biggs Law Firm, PLLC, represents the Debtor as bankruptcy counsel. MG LOGISTICS: Amends Unsecured Claims Pay Details ------------------------------------------------- MG Logistics Incorporated submitted an Amended Disclosure Statement for the Second Amended Plan of Reorganization dated July 21, 2026. MG Logistics Incorporated filed a Chapter 11 plan to reorganize as a going-concern leasing company. Under the plan, secured equipment lenders will receive payments through restructured amortization schedules with specified interest rates or other treatment. General unsecured creditors will receive their pro rata share of (1) the net portion of an equity contribution, (2) any recovery from bad faith claims, and (3) net proceeds from avoidance actions. The Plan Sponsor will retain the existing equity interest only if no winning bid results from the proposed equity auction, in exchange for providing an equity contribution and personal guarantees to equipment lenders. The bankruptcy filing was primarily caused by a severe and prolonged downturn in the U.S. trucking industry, which significantly reduced Max Freight's ability to make lease payments to the Debtor. As a result, the Debtor's gross revenues declined from approximately $103.4 million in 2021 to approximately $8.1 million through the 2025 petition date. Although the Plan Sponsor personally loaned more than $7.3 million to the company, the Debtor was unable to remain current on obligations to equipment lenders, landlords, and unsecured trade creditors. The plan provides the following treatment: * Classes 2–8 (Equipment Lenders): Paid in full or in part under restructured amortization schedules. * Class 9 (Landlord Claims): Treated according to the landlord settlement. * Class 10 (General Unsecured Claims): Receives a pro rata share of: -- At least $100,000 from the net portion of the equity contribution, -- Net proceeds from avoidance actions, and -- Any bad faith claim recovery. * Class 12 (Plan Sponsor): Retains the existing equity interest if no successful third-party equity bid is approved. * Class 1 (Priority Claims): Paid in full, although the Debtor believes there are likely no claims in this class. If an impaired class rejects the plan and at least one qualified bid is submitted, the Debtor will seek to continue the confirmation hearing until after the equity auction concludes. Amended schedules made two significant changes: * Accounts receivable were reduced from $1,071,010.84 to $0, with the full $1,824,235.70 in receivables treated as doubtful or uncollectible because they relate to Max Freight equipment leases. * The Amtrust/Wesco insurance collateral deposit increased from $289,870 to $530,000, increasing total deposits and prepayments to $578,000, while the Debtor investigates possible pre-petition setoffs. As a result of these amendments: * Total scheduled assets decreased from $16,364,337.56 to $15,533,456.72. * Total nonpriority unsecured claims increased from $2,101,778.64 to $2,454,364.36. * Total scheduled liabilities exceed total scheduled assets by approximately $9,345,907.64. As of the petition date, the Debtor owed approximately $2.1 million to general unsecured creditors, primarily trade vendors and service providers. Additional unsecured claims include: * An anticipated unsecured deficiency claim of approximately $3.75 million by Stoughton Trailers Acceptance Company, LLC. * A litigation claim held by Anthony Avery. * A newly scheduled unsecured claim of $352,585.72 by the Debtor's 100% owner, Vassil Bayraktarov. For Class 10, holders of allowed general unsecured claims will receive their pro rata share of either: * The net proceeds from a successful equity auction, or * If no winning bid is approved, the net portion of the equity contribution (at least $100,000), which the Debtor estimates will provide a recovery of approximately 2% of allowed unsecured claims. Funding for the plan will come from: * Existing cash on the effective date, * Cash generated from ongoing operations, and * Plan funding, including either the equity contribution or cash contributed by a successful bidder in the equity auction. If no third-party winning bid is approved, the Plan Sponsor will contribute $200,000 to the reorganized Debtor. The portion of that contribution not needed for administrative and priority tax claims will be distributed pro rata to allowed general unsecured creditors. After confirmation, the reorganized Debtor will make payments to creditors through the Plan Sponsor. The reorganized Debtor will also have the right to prepay equipment lender obligations at any time without penalty, fee, or additional charge. A full-text copy of the Amended Disclosure Statement dated July 21, 2026 is available at https://urlcurt.com/u?l=7Sz9P5 from PacerMonitor.com at no charge. MG Logistics Incorporated is represented by: Matthew E. McClintock, Esq. Jeffrey Dan, Esq. Joshua Grenard, Esq. GOLDSTEIN & MCCLINTOCK LLLP 111 W. Washington Street, Suite 1221 Chicago, IL 60602 Telephone: (312) 337-7700 Facsimile: (312) 277-2310 E-mail: mattm@goldmclaw.com About MG Logistics Incorporated MG Logistics Incorporated provides freight transportation services across the U.S. The Company operates from Huntley, Illinois, and is authorized for interstate trucking. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 25-10269) on July 4, 2025. In the petition signed by Vassil Bayraktarov, authorized representative of the Debtor, the Debtor disclosed up to $50 million in both assets and liabilities. Judge Donald R. Cassling oversees the case. Jeffrey C. Dan, Esq., at Goldstein & McClintock, LLLP, is the Debtor's legal counsel. MKM HOLDINGS: Hires Lake Martin Real Estate LLC as Broker --------------------------------------------------------- MKM Holdings, LLC seeks approval from the U.S. Bankruptcy Court for the Middle District of Alabama to hire Lake Martin Real Estate LLC as broker. The firm will render these services: a. market and provide due diligence and coordinate the sale of the real property commonly known as 115 Luanne's Point, Alexander City, AL 35010; b. oversee and manage the terms of the sales and marketing of the real property; and c. perform all other necessary actions related to the management, marketing and solicitation of buyers of the real property. The commission rate for the broker is 4%. Steven Arnberg, a broker at Lake Martin Real Estate LLC, assured the court that the broker is a "disinterested person" within the meaning of section 101(14) of the Bankruptcy Code. The broker can be reached through: Steven Arnberg Lake Martin Real Estate LLC 2544 Willow Point Road Alexander City, AL 35010 Telephone: (256) 212-1498 Toll Free: (866) 989-0720 Facsimile: (256) 212-1413 About MKM Holdings, LLC MKM Holdings, LLC sought protection under Chapter 11 of the Bankruptcy Code (Bankr. M.D. Ala. Case No. 26-81000) on July 23, 2026. At the time of the filing, the Debtor had estimated assets of between $1,000,001 and $10 million and estimated liabilities of between $1,000,001 and $10 million. Baker, Donelson, Bearman, Caldwell & Berkowitz, P.C. is the Debtor's legal counsel. MONOGRAM FOOD: S&P Rates New Senior Secured Credit Facilities 'B' ----------------------------------------------------------------- S&P Global Ratings assigned its 'B' issue-level rating and '3' recovery rating to Monogram Food Solutions LLC's proposed $535 million senior secured term loan and $125 million senior secured revolving credit facility. The '3' recovery rating indicates its expectation for meaningful (50%-70%; rounded estimate: 55%) recovery in the event of default. Monogram intends to use the proceeds from the new term loan to repay about $415 million of existing term loan borrowings, $112 million of shareholder redemptions, and cover transaction costs. The $125 million revolver would replace its existing $100 million revolver due in 2028. S&P expects it to be undrawn at close. S&P estimates S&P Global Ratings-adjusted pro forma leverage will increase to about 5.5x from about 4.6x for the 12 months ended June 30, 2026. Monogram reduced leverage prior to this transaction, which allows it to increase debt within its 7x downside threshold for the rating. S&P Global Ratings will withdraw the ratings on the existing senior secured debt following close. S&P said, "We forecast the company will expand revenue about 6% and S&P Global Ratings-adjusted EBITDA about 20% in fiscal 2026 on incremental volumes with its key customers, supported by strong consumer demand for protein, higher-margin product mix, improved operating efficiency, and lower nonrecurring costs. While we expect operating performance will support deleveraging, we believe Monogram could pursue debt-financed acquisitions or distributions to its financial sponsor owners, likely sustaining leverage above 5x long term." Issue Ratings--Recovery Analysis Key analytical factors -- Monogram's debt capital structure will comprise a $125 million senior secured revolving credit facility due in May 2030, $535 million senior secured term loan maturing in August 2030, $73 million of outstanding equipment financing facilities (not rated), and approximately $7 million of net new markets tax credit obligations (not rated). -- Monogram Food Solutions LLC will continue as the borrower under the credit facilities. The revolver and term loan are senior secured, pari passu obligations. All its obligations under the credit facility are unconditionally guaranteed jointly and severally on a senior secured first-lien basis by Monogram Intermediate LLC and each existing and subsequently acquired or organized direct or indirect wholly owned domestic subsidiary. Simulated default assumptions Monogram is a Delaware limited liability company headquartered in Memphis, Tennessee. In an insolvency proceeding, S&P anticipates it would file for bankruptcy protection under auspices of the U.S. federal bankruptcy court system and not involve foreign jurisdictions. S&P said, "Our simulated default scenario considers a default in the first half of 2029, stemming from the loss of business from major customers due to lower demand, which significantly deteriorates cash flow and triggers a payment default. "We believe creditors would maximize their recovery prospects in a payment default scenario if the company reorganized instead of liquidated. This is because of the sizable investments Monogram has made in its manufacturing assets, operating history (including no significant product recalls), and relationships with numerous large packaged food, grocery, and quick-service restaurant customers. Therefore, we assume it continues as a going concern and arrive at our emergence enterprise value by applying a 5x multiple to our assumed emergence EBITDA. "We estimate a $480 million emergence enterprise value, which incorporates the 5x multiple to our $96 million emergence EBITDA estimate. Our estimate is up from $70 million to reflect operational improvements and earnings growth. "To determine the net recovery value available for distribution to creditors, we reduce our estimate of Monogram's gross recovery value by 5% to account for estimated bankruptcy administrative expenses. This results in a net recovery value of about $456 million available for distribution to creditors. "We consider roughly $73 million of equipment financing loans as priority claims ahead of the first-lien debtholders." Simplified waterfall -- Net recovery value for waterfall after administrative expenses (5%): $456 million -- Obligor/nonobligor valuation split: 100%/0% -- Estimated priority claims: $75 million -- Remaining recovery value available for secured claims: $380 million -- Estimated secured claims: $650 million --Recovery expectations: 50%-70% (rounded estimate: 55%) All debt amounts include six months of prepetition interest. MORRISON HOSPITAL: Court Extends Cash Collateral Access to Oct. 23 ------------------------------------------------------------------ Morrison Hospital Association received another extension from the U.S. Bankruptcy Court for the District of New Hampshire to use cash collateral to fund its operations. The court entered a second final order authorizing the Debtor to use cash collateral through October 23 in accordance with its latest budget. The order allows aggregate expenditures of up to 125% of budgeted amounts unless the pre-petition lenders consent otherwise. The Debtor's cash collateral is subject to liens held by Service Credit Union and the Rural Housing Service, United States Department of Agriculture, which financed the development or renovation of its real properties in Whitefield, New Hampshire. As of the petition date, the Debtor owed $847,000 and $22.994 million to Service Credit Union and the USDA, respectively. As adequate protection, the Debtor is required to make monthly payments of $2,900 to Service Credit Union and $5,100 to the USDA, with payments due on August 21, September 18, and October 16. In addition, the lienholders will be granted liens on all assets, except proceeds from Chapter 5 avoidance action, with the same priority, validity and scope as their pre-petition liens. Additional safeguards include providing monthly budget-to-actual variance reports to the lienholders and the Office of the U.S. Trustee, comparing actual financial performance with the approved budget. The Debtor's authority to use cash collateral will terminate upon conversion of its Chapter 11 case to one under Chapter 7. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/KDANQ from PacerMonitor.com. The next hearing is scheduled for October 23, with objections due by October 16. About Morrison Hospital Association Morrison Hospital Association sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. N.H. Case No. 26-10308) on April 10, 2026, with $1 million to $10 million in assets and $10 million to $50 million in liabilities. The petition was signed by Shannon Lynch as chief executive officer. Judge Kimberly Bacher oversees the case. The Debtor tapped Christopher M. Candon, Esq., at Sheehan, Phinney, Bass + Green, PA as bankruptcy counsel, and KCP Advisory Group, LLC as financial advisor. MOUNTAIN POWER: Gets Extension to Access Cash Collateral -------------------------------------------------------- Mountain Power Systems, Inc. received third interim approval from the U.S. Bankruptcy Court for the Eastern District of North Carolina, Raleigh Division, to use cash collateral. The court authorized the Debtor to use cash collateral through August 31, unless modified earlier by court order or replaced by a final order. Cash collateral use is limited to expenditures outlined in the approved budget, with a maximum variance of 110% for any line item. The Debtor's cash collateral consists primarily of bank account funds and accounts receivable. Several of its creditors may claim security interests in substantially all of its personal property, including cash, receivables and inventory based upon multiple UCC-1 financing statements filed between 2020 and 2026. The secured creditors include the U.S. Small Business Administration, Cadence Bank, Parkview Advance LLC, and several filings by corporate service representatives such as C T Corporation System and Corporation Service Company. Creditors will be granted adequate protection through replacement liens on post-petition assets of the same character and priority as their pre-petition liens. These liens are automatically perfected as of the petition date without additional filings and remain subject to future challenges regarding validity or priority. Creditors may seek superpriority administrative claims under Bankruptcy Code Section 507(b) in the event adequate protection proves insufficient. Creditors may seek additional adequate protection or termination of cash collateral use upon notice of material default or noncompliance. All parties reserve rights to contest liens, claims, and collateral interests. A further hearing is scheduled for August 25. The third interim order is available at https://shorturl.at/IhrLE from Pacermonitor.com. About Mountain Power Systems Inc. Mountain Power Systems, Inc. is a Chapel Hill, North Carolina-based company that sells and sources motor parts through eCommerce channels. The company provides services related to parts procurement, product data, logistics, fulfillment support, and customer care. It operates across industrial, agricultural, marine, and automotive markets. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. N.C. Case No. 26-02151) on May 12, 2026. In the petition signed by Iliya Sokolovsky, chief executive officer, the Debtor disclosed up to $10 million in both assets and liabilities. Judge David M. Warren oversees the case. Zachary Malnik, Esq., at Waldrep Wall Babcock & Bailey, PLLC represents the Debtor as legal counsel. MULBERRYS MOBILE: Hires Latham Luna Eden as Bankruptcy Counsel -------------------------------------------------------------- Mulberrys Mobile Provider Services, LLC seeks approval from the U.S. Bankruptcy Court for the Northern District of Florida to hire Latham, Luna, Eden & Beaudine, LLP, as bankruptcy counsel. The firm's services include: (a) advising as to the Debtor's rights and duties in this case; (b) preparing pleadings related to this case, including a disclosure statement and plan of reorganization; and (c) taking any and all other necessary action incident to the proper preservation and administration of this estate. Latham Luna will be compensated at hourly rates ranging from $395 to $600 for attorneys (including Justin M. Luna) and $105 for paraprofessionals. The firm received a prepetition retainer totaling $31,738. Latham Luna represents that it is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code and holds no interest adverse to the Debtor or its estate, according to court filings. The firm can be reached at: Justin M. Luna, Esq. Latham, Luna, Eden & Beaudine, LLP 201 S. Orange Ave., Suite 1400 Orlando, FL 32801 Telephone: (407) 481-5800 Facsimile: (407) 481-5801 E-mail: jluna@lathamluna.com About Mulberrys Mobile Provider Services, LLC Mulberrys Mobile Provider Services, LLC is a Hawthorne, Florida-based provider of mobile medical and ambulatory health care services. The company offers primary care, advanced wound care, telehealth, and other mobile healthcare services throughout Northeast Florida. In addition to its mobile units, the company operates three physical clinics and maintains active professional licensure through April 2027. Founded in 2018, it was recognized in 2025 as a prominent Black-owned healthcare business in the region. Mulberrys Mobile Provider Services, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Fla. Case No. 26-10213) on July 21, 2026. In its petition, the debtor reported estimated assets of $500,000 to $1 million and estimated liabilities of $500,000 to $1 million. The Debtor is represented by Justin M. Luna, Esq., of Latham, Luna, Eden & Beaudine, LLP. Jerrett McConnell, Esq., at McConnell Law Group, P.A. named as Subchapter V trustee. MULFORD CONSTRUCTION: Seeks to Extend Plan Exclusivity to Nov. 24 ----------------------------------------------------------------- Mulford Construction Co., Inc. asked the U.S. Bankruptcy Court for the District of Maryland to extend its exclusivity periods to file a plan of reorganization and obtain acceptance thereof to Nov. 24, 2026 and Jan. 21, 2027, respectively. The Debtor explains that during the pendency of this chapter 11 case, the company has expended significant time and resources addressing complexities and immediate concerns unique to its business operations and financial condition, which have prevented the Debtor from having the necessary time and resources to focus on restructuring issues and information to be able to formulate a plan of reorganization and projections. Following the Petition Date, such financing arrangements have required significant scrutiny and research efforts from the Debtor and its professionals, as well as lengthy negotiations with the respective MCA creditors. The significant number of secured creditors, vehicles and equipment, and unsecured creditors has further contributed to the complexities of this case and has required significant attention from the Debtor and its professionals in order to assess the Debtor's property and financial obligations. The Debtor believes that if it is given the extension requested herein, it will be able to focus on formulating a plan of reorganization and soliciting acceptances of such plan. If this Court were to deny the Debtor's request for an extension of the Exclusive Periods, any party in interest would be allowed to propose a plan of reorganization. Moreover, termination of the Debtor's exclusivity to file a plan on July 27, 2026, would no doubt have an adverse impact on the Debtor's ability to maximize a return to creditors and would potentially jeopardize the Debtor's ability to maintain its crucial employees and staff. As such, additional time is necessary for the Debtor to file a plan and to solicit acceptances, and this factor weighs in favor of extending the Exclusive Periods. In addition, the Debtor has spent significant time and resources completing its forthcoming amended schedules of assets and liabilities in order to ensure complete and accurate financial information in this case. The Debtor has demonstrated a strong commitment to the reorganization process, and it is highly likely that the Debtor can propose and confirm a feasible plan in a reasonable amount of time. As such, this factor weighs in favor of extending the Exclusive Periods. The Debtor notes that because the Debtor has been addressing more immediate concerns from creditors, such as contested matters and adversary proceedings, the current exclusivity deadline on July 27, 2026 is not feasible. As such, extending the Exclusive Periods will allow the Debtor to both resolve conflicts in this case and engage in negotiations with creditors. The Debtor asserts that its request for an extension of the Exclusive Periods is based solely upon the variety of obstacles it has faced since the Petition Date and its well-founded conclusion that it simply cannot formulate a plan of reorganization prior to the expiration of the Exclusive Periods. By obtaining an extension, the Debtor will utilize the additional time to communicate and negotiate with creditors and work closely with counsel to formulate a viable plan rather than using such extension to stall or frustrate creditors. The Debtor further asserts that it is still in the process of obtaining approval of post-petition insurance premium financing and obtaining debtor in possession financing. The Debtor must also resolve the myriad of contested matters and adversary proceedings before it can accurately assess available assets to fund a plan of reorganization. The need for a determination on these matters warrants an extension of the Exclusive Periods. Mulford Construction Company, Inc. is represented by: Richard L. Costella, Esq. Dennis J. Shaffer, Esq. Megan K. Young, Esq. One East Pratt Street, Suite 901 Baltimore, MD 21202 Tel: (410) 752-9700 Email: rcostella@tydings.com dshaffer@tydings.com myoung@tydings.com About Mulford Construction Mulford Construction Company, Inc., based in Prince Frederick, Maryland, provides heavy civil contracting, earthwork, and utility installation services across Maryland, Washington, D.C., and Virginia, supporting commercial, residential, and infrastructure-related site development projects. Founded in 1976, the firm specializes in excavation, grading, material processing, and the construction of stormwater management systems, including bioretention, for large-scale construction initiatives. Mulford Construction Co., Inc. in Prince Frederick, MD, sought relief under Chapter 11 of the Bankruptcy Code filed its voluntary petition for Chapter 11 protection (Bankr. D. Md. Case No. 26-13271) on March 27, 2026, listing $500,000 to $1 million in assets and $1 million to $10 million in liabilities. Kurt Fowler as CEO, signed the petition. TYDINGS ROSENBERG LLP serve as the Debtor's legal counsel. NAIMA CAB: Seeks to Hire Alla Kachan P.C. as Attorney ----------------------------------------------------- Naima Cab Corp. seeks approval from the U.S. Bankruptcy Court for the District of New Jersey to hire Law Offices of Alla Kachan P.C. as counsel. The firm will provide these services: a. assist Debtor in administering this case; b. make motions or take action as may be appropriate or necessary under the Bankruptcy Code; c. represent Debtor in prosecuting adversary proceedings to collect assets of the estate and such other actions as Debtor deem appropriate; d. take such steps as may be necessary for Debtor to marshal and protect the estate's assets; e. negotiate with Debtor's creditors in formulating a plan of reorganization for Debtor in this case; f. draft and prosecute the confirmation of Debtor's plan of reorganization for Debtor in this case; g. render such additional services as Debtor may require in this case. The firm will be paid at these rates: Attorney $550 per hour Clerk's and paraprofessional $250 per hour The firm will be paid a retainer in the amount of $13,000. In addition, the firm will seek reimbursement for its out-of-pocket expenses. Alla Kachan, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Alla Kachan, Esq. Law Offices of Alla Kachan, P.C. 2799 Coney Island Avenue, Suite 202 Brooklyn, NY 11235 Tel: (718) 513-3145 Email: alla@kachanlaw.com About Naima Cab Corp Naima Cab Corp filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. D.N.J. Case No. 26-15773) on May 21, 2026, listing $100,001 to $500,000 in assets and $500,001 to $1 million in liabilities. Judge John K Sherwood presides over the case. Alla Kachan, Esq. at Law Offices Of Alla Kachan P.C. serves as the Debtor's counsel. NEPTUNE INSURANCE: Debts Exceed Assets by $222.2M at June 30 ------------------------------------------------------------ Neptune Insurance Holdings Inc.'s stockholder's deficit was US$222.2 million at June 30, 2026. The stockholder's deficit was US$227.5 million at Dec. 31, 2025. At June 30, 2026, the Company had total assets of US$102.2 million and total liabilities of US$324.5 million. At Dec. 31, 2025, the Company had total assets of US$65.3 million and total liabilities of US$292.8 million. The Company said: "Liquidity is a measure of a company's ability to generate cash flows sufficient to meet the short-term and long-term cash requirements of its business operations. Our principal sources of liquidity are cash generated from operating activities and available borrowing capacity under our credit facilities. Our principal liquidity requirements include operating expenses, debt service obligations (interest and scheduled principal repayments), capital expenditures (primarily capitalized software development), and working capital." As of June 30, 2026, and Dec. 31, 2025, the Company had $77.0 million and $40.5 million of cash and cash equivalents and fiduciary cash on the balance sheet, respectively. This consisted of $17.6 million and $8.0 million of cash and cash equivalents, respectively, and $59.5 million and $32.5 million of fiduciary cash, respectively. In its capacity as an insurance agent, the Company typically collects premiums from policyholders and, after deducting the authorized commissions, remit the net premiums to the appropriate insurance company or companies. Accordingly, premiums receivable from policyholders are reported as fiduciary receivables and premiums payable to insurance companies are reported as insurance company payables. Unremitted net insurance premiums are held in a fiduciary capacity until the Company distributes them. Net insurance premiums payable to insurance companies, together with premium deposits received from policyholders, are held as fiduciary cash on the balance sheet. Cash and cash equivalents held in excess of the amounts required to meet the Company's fiduciary obligations are recognized as cash and cash equivalents. The Company disclosed it has operating cash flows of $43.4 million and $23.0 million for the six months ended June 30, 2026, and 2025, respectively. The Company uses its excess cash to deleverage, by paying down outstanding principal on its Amended 2025 Revolver, and to return capital to shareholders, by repurchasing its Class A common stock, while retaining sufficient liquidity for working capital needs. As of June 30, 2026, and Dec. 31, 2025, the Company was allowed to borrow up to $20.0 million and $20.0 million, respectively, under its $260.0 million revolving credit facility effected pursuant to its 2025 Amended and Restated Credit Agreement. The undrawn portion of the revolving credit facility provides flexibility for short-term funding needs or working capital requirements. The Company believes its current cash and cash equivalents and the undrawn amounts available under its 2025 Amended and Restated Credit Agreement will be sufficient to meet its working capital and capital expenditure requirements for at least the next twelve months and beyond. Over the longer term, the Company may explore additional refinancing options to reduce interest costs or raise equity to accelerate growth or reduce leverage and, depending on interest rates and market conditions, may from time to time consider distributing dividends or engaging in stock repurchases. A full-text copy of the Form 10-Q is available at https://tinyurl.com/2s3vu6ka About Neptune Insurance Holdings Inc. Neptune Insurance Holdings Inc. is an insurance-focused company that operates primarily as an insurance agent, collecting premiums from policyholders and remitting net premiums to insurance carriers after commissions. The Company manages fiduciary receivables and payables related to premium flows and utilizes revolving credit facilities and operating cash flows to support its working capital, capital expenditure, and deleveraging strategies. NEW BETHEL: Court Confirms Third Amended Plan of Reorganization --------------------------------------------------------------- Judge Frank J. Santoro of the U.S. Bankruptcy Court for the Eastern District of Virginia confirmed the Third Amended Plan of Reorganization of New Bethel Baptist Church dated and filed on September 26, 2025. The Plan satisfies all of the requirements under Bankruptcy Code, including 11 U.S.C. Sec. 1129(a)(1), other 11 U.S.C. Sec. 1129 requirements necessary for confirmation of the Plan. No party filed or raised an objection to the Plan. As shared by the Troubled Company Reporter, New Bethel Baptist Church submitted a Third Amended Disclosure Statement describing Third Amended Plan of Reorganization dated September 26, 2025. The Plan provides for two classes of secured claims, one non-class of priority unsecured claims, and two classes of unsecured claims. Southern Bank in Class One shall be repaid on their $1,000,000.00 Class One secured claim, which secured claim amount is based upon the appraised value of its collateral, in equal monthly payments of principal and interest, based upon a 25-year amortization as follows: * For the first 18 months following the Effective Date, at an annual interest rate (APR) fixed at 4.5% for the 18 months following the Effective Date; and * For months 19-60 of the Plan, fixed at one percentage point (1.00%) above the Wall Street Journal Prime Rate effective as of the first date of month 19. Provided, however, the APR in months 19-60 shall not exceed a cap of 8.5% APR. Further, the months 19 60 payment shall adjust to provide for a 25-year amortization commencing on the first day of month 19. The remaining undersecured portion of Southern Bank's claim (which stood at $2,683,022.90 as of June 30, 2025), shall be treated and paid as a Class Three general unsecured claim. Allowed Unsecured Claims in Class Three shall receive a pro rata share of monthly payments of $250.00, commencing on the Effective Date and continuing through the life of the Plan. All monthly payments to Class Three shall be distributed pro rata to holders of Class Three Claims. This Class is impaired under the Plan. Allowed Unsecured Claims in Class Four shall receive a pro rata share of monthly payments of $100.00, commencing on the Effective Date. At any time after the Effective Date, the Debtor may fully satisfy all Plan obligations due to holders of Allowed Unsecured Claims by pre-paying, from funds borrowed from third-parties or from designated gifts, (i) the outstanding balance of the Monthly Payments due under the Plan, (ii) an amount determined by the Court to be of a value, as of the Effective Date, of not less than the amount that would have been paid on such claims had the estate of the Debtor been liquidated under Chapter 7 on the Effective Date, or (iii) an amount otherwise agreed by any member of the class of Unsecured Claims. All monthly payments to Class Four shall be distributed pro rata to holders of Class Four Claims. This Class is impaired under the Plan. Personal property sale proceeds would likely be insufficient to pay the EIDL balance and would result in no payment to unsecured creditors. Particularly given the Southern Bank Class Three deficiency claim, unsecured creditors would receive little or nothing in a Chapter 7 liquidation. Further, proceeds of any liquidation sales of Church property, be they sales of real property or personal property, would first go to pay administrative expenses estimated (subject to court approval) to be in excess of $110,000.00. Under the Plan, the Church proposes to pay the Class Three General Unsecured Claims an aggregate amount of approximately $15,000.00 over the life of the Plan (60 months at $250/mo.) reflecting a distribution of 0.05 percent (.50%) of their claims. This limited percentage payout is the result of the extraordinary amount of Southern Bank's deficiency claim (the under secured portion remaining after its Class One Secured Claim) relative to other Class 3 General Unsecured Claims. A full-text copy of the Third Amended Disclosure Statement dated September 26, 2025 is available at https://urlcurt.com/u?l=W5RN2x from PacerMonitor.com at no charge. Counsel for the Debtor: Joseph T. Liberatore, Esq. Joseph T. Liberatore, Esq. Liberatore DeBoer P.C. Town Point Center, Suite 604 150 Boush Street Norfolk, VA 23510 Telephone: (757) 333-4500 Facsimile: (757) 333-4501 A copy of the Court's Order dated July 21, 2026, is available at https://urlcurt.com/u?l=VIm3sY from Pacermonitor.com. About New Bethel Baptist Church New Bethel Baptist Church is an unincorporated religious association pursuant to the Constitution of the Commonwealth of Virginia. It is based in Portsmouth, Va. New Bethel Baptist Church filed a Chapter 11 petition (Bankr. E.D. Va. Case No. 19-73531) on Sept. 24, 2019, listing $1,449,207 in assets and $4,034,673 in liabilities. Judge Frank J. Santoro oversees the case. The Debtor tapped Joseph T. Liberatore, Esq., at Crowley Liberatore P.C., as bankruptcy counsel. The Verbena Askew Law Firm and Anchor Legal Group, PLLC, serve as special counsel. NEW HORIZON: Case Summary & Six Unsecured Creditors --------------------------------------------------- Debtor: New Horizon Learning Academy, LLC 1344 Lake Ave Metairie, LA 70005 Business Description: New Horizon Learning Academy provides educational and recreational programs for children and youth from two locations in Metairie, Louisiana. The academy implements the Frog Street curriculum and conducts activities covering language development, mathematics, reading readiness, science, nature, art, music, physical exercise, and coordination. Its programs are structured around age-appropriate activities and individual developmental milestones. Chapter 11 Petition Date: July 21, 2026 Court: United States Bankruptcy Court Eastern District of Louisiana Case No.: 26-11786 Judge: Hon. Meredith S. Grabill Debtor's Counsel: Rachel Thyre Vogeltanz, Esq. THE LAW OFFICE OF RACHEL THYRE VOGELTANZ, LLC 428 W. 21st Ave. Covington LA 70433 Tel: 985-377-9271 E-mail: rachel@rachel.law Total Assets: $379,500 Total Liabilities: $1,544,241 The petition was signed by Jamalynn Lewis as manager/sole member. A full-text copy of the petition, which includes a list of the Debtor's six unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/GAYF4PA/New_Horizon_Learning_Academy_LLC__laebke-26-11786__0002.0.pdf?mcid=tGE4TAMA NFUZE LLC: Seeks to Hire Kept Books LLC as Accountant ----------------------------------------------------- NFuze LLC seeks approval from the U.S. Bankruptcy Court for the Southern District of Illinois to hire Joseph Martin d/b/a Kept Books LLC as accountant. The firm will maintain accurate financial records, prepare monthly operating reports, assist with bankruptcy reporting requirements, prepare tax returns, and support the formulation and confirmation of a Subchapter V plan. The firm will be paid at these hourly rates: Accountant $150 Support Staff $100 The firm will seek reimbursement of reasonable and necessary expenses. As disclosed in the court filings, Kept Books LLC is a "disinterested person" as defined in 11 U.S.C. Sec. 101(14). The firm can be reached through: Joseph Martin Kept Books LLC About NFuze LLC NFuze LLC is an Edwardsville, Illinois-based ambulatory wellness and infusion therapy services provider offering IV hydration treatments and GLP-1 weight loss therapy. The company continues operating as a debtor-in-possession following the commencement of its Chapter 11 case and an adversary proceeding initiated in May 2026. NFuze sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Ill. Case No. 26-30581) on June 30, 2026. In its petition, the Debtor reports estimated assets of $50,000 to $100,000 and estimated liabilities of $100,000 to $500,000. Honorable Mary E. Lopinot handles the case. The Debtor is represented by Jerry D. Graham, Jr., Esq. of JD Graham PC. OCEANWIDE PLAZA: Files Amendment to Disclosure Statement -------------------------------------------------------- Oceanwide Plaza LLC, submitted an Amended Revised Combined Disclosure Statement and Plan of Liquidation dated July 21, 2026. Oceanwide Plaza LLC owns Oceanwide Plaza, a mixed-use development in downtown Los Angeles that is approximately 60% complete. Before filing for Chapter 11 bankruptcy, the company primarily funded construction itself but also received up to $325 million in construction financing from LADI for short-term needs. In 2016, the company hired Lendlease as the general contractor through a bidding process, and Lendlease hired more than 40 subcontractors. Selling the real property is a key part of the Chapter 11 plan and is considered the fastest way to complete the project in time for the 2028 Los Angeles Olympic Games. During the bankruptcy case, the debtor actively marketed the property and concluded that a bankruptcy sale would maximize its value and provide the best opportunity for creditor recoveries. Real estate brokers were engaged to market the property. On February 16, 2026, the debtor signed a Purchase and Sale Agreement (PSA) with KPC Square, LLC. The agreed purchase price is $470 million, consisting of: * Approximately $400 million through a credit bid that satisfies the secured claims of LADI and Lendlease. * Up to $70 million in cash. The closing date may only be extended: * By unanimous written consent of the specified parties, or * By order of the Bankruptcy Court with the required consents. If the City of Los Angeles has not approved required conditions or entitlements by the closing date, the court may grant an extension if it is reasonably necessary and the debtor's financing is extended or replaced to cover estate expenses during the extensions. Use of Sale Proceeds: * The debtor seeks court approval of the sale through the Chapter 11 plan. * Once the sale closes, the proceeds will be used by the debtor and, after the plan becomes effective, the Liquidating Trustee to pay claims according to the plan. Class 6 consists of General Unsecured Claims: * The debtor estimates approximately $161,018,015 in asserted general unsecured claims, excluding intercompany loan claims. * Recoveries for these creditors depend on the amount generated from the property sale or any alternative transaction. * General unsecured creditors will receive their proportional share of available cash from the sale proceeds and/or plan administration assets, up to the unpaid amount of their allowed claims, subject to the plan's distribution procedures. * Class 6 is impaired and is entitled to vote on whether to accept or reject the Chapter 11 plan. Payments under the plan will come from: * Sale proceeds, * Plan administration assets, * Cash on hand, * after accounting for the required post-confirmation reserve. The plan limits the liability of designated Exculpated Parties for actions or omissions related to the Chapter 11 case, the plan, and related agreements. This protection does not apply to conduct that constitutes willful misconduct or gross negligence, as determined by a final court order, for actions occurring between the petition date and the plan's effective date. A full-text copy of the Revised Combined Disclosure Statement and Plan dated July 21, 2026 is available at https://urlcurt.com/u?l=kWzMub from PacerMonitor.com at no charge. Attorneys for the Debtor: Sharon Z. Weiss, Esq. Bryan Cave Leighton Paisner LLP 120 Broadway, Suite 300 Santa Monica, CA 90401-2386 Telephone: (310) 576-2100 Facsimile: (310) 576-2200 Email: sharon.weiss@bclplaw.com Jarret P. Hitchings, Esq. One Wells Fargo Center 301 S. College Street, Suite 2150 Charlotte, NC 28202 Telephone: (704) 749-8999 Facsimile: (704) 749-8990 About Oceanwide Plaza LLC An involuntary bankruptcy petition against Oceanwide Plaza LLC in Los Angeles CA, for Chapter 11 protection (Bankr. C.D. Cal. Case No. 24-11057) on February 13, 2024. Judge Deborah J Saltzman oversees the case. Bryan Cave Leighton Paisner, LLP as counsel to the Debtor. Bradley D. Sharp as chief restructuring officer. GlassRatner Advisory & Capital Group LLC, d/b/a B. Riley Advisory Services, as financial advisor and expert witness. OLD RICHMOND: Taps Venture Realty as Commercial Real Estate Broker ------------------------------------------------------------------ Old Richmond @ FM 1464 Ltd. seeks approval from the U.S. Bankruptcy Court for the Southern District of Texas to employ Venture Realty LLC as commercial real estate broker. The broker seeks to fully lease or sell the Debtor's commercial building located at 18551 Old Richmond Road, Richmond, Fort Bend County, Texas. The broker's compensation are as follows: Lease Compensation Commission basis 3% of aggregate base rent over the lease term Payment trigger 50% on Lease execution, 50% on tenant occupancy/ rent commencement Cooperating broker 3% Sales Compensation Commission basis 3% of gross sale price Payment trigger due at closing, subject to Court order approving the sale Cooperating broker 3% of gross sale price Venture Realty holds no interest materially adverse to the estate, as disclosed in the court filings. The broker can be reached through: Dottie Bourassa Michael Vazquez Venture Realty Houston, TX 77009 Phone: (713) 306-3351 Phone: (281) 685-5417 About Old Richmond @ FM 1464 Ltd. Old Richmond @ FM 1464 is a real estate company that owns and manages a commercial property at 18551 Old Richmond Road in Sugar Land, Texas. Old Richmond @ FM 1464, Ltd. filed its voluntary petition for Chapter 11 protection (Bankr. S.D. Tex., Case No. 26-33925) on June 1, 2026, listing $1 million to $10 million in assets and $500,000 to $1 million in liabilities. Michael Banigan, an authorized signatory, signed the petition. K.B. Battaglini, Esq. of Forman Watkins & Krutz LLP serve as the Debtor's legal counsel. OMNI HEALTH: Gets Final OK to Use Cash Collateral ------------------------------------------------- Omni Health Services, Inc. received final approval from the U.S. Bankruptcy Court for the Eastern District of Pennsylvania to use cash collateral to fund its operations. The Debtor holds cash and certain accounts receivable, which constitute cash collateral subject to claims held by Berkshire Bank and other pre-petition secured creditors. Under the final order, secured creditors will be granted adequate protection through replacement liens on the Debtor's post-petition property, with the same validity, priority and extent as their pre-petition liens. These replacement liens protect secured creditors against any decline in the value of their collateral resulting from the automatic stay or the Debtor's use of cash collateral. The final order provides additional protection to Berkshire by requiring the Debtor to continue its regular debt service payments on the Direct Berkshire Loans. The Debtor is required to file a supplemental budget before the expiration of the period covered by any previously approved budget. A copy of the court's order is available at https://shorturl.at/q6sdB from PacerMonitor.com. Omni Health Services, a provider of clinic-based outpatient mental health services, is reorganizing after declining in-person visits, staffing shortages, and telehealth competition led it to close 10 unprofitable clinics and consolidate operations. About Omni Health Services Inc. Omni Health Services, Inc. is a community-based mental health services provider operating 12 locations across Pennsylvania and New Jersey. Omni Health Services sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Pa. Case No. 25-14727) on November 20, 2025, listing between $1 million and $10 million in assets and liabilities. Michael Thevar, president of Omni Health Services, signed the petition. Judge Ashely M. Chan oversees the case. David B. Smith, Esq., at Smith Kane Holman, LLC, represents the Debtor as legal counsel. OMNIS PLEASANTS: Case Summary & 30 Largest Unsecured Creditors -------------------------------------------------------------- Debtor: Omnis Pleasants, LLC ETEM Remediation Two, LLC Pleasants Power Station One Power Station Boulevard, Belmont, WV 26134 Business Description: Omnis Pleasants, LLC owns and operates the Pleasants Power Station, a two-unit, 1,278-megawatt coal-fired power plant in Belmont, West Virginia. The facility includes related buildings, electrical-generation infrastructure, and transmission powerlines and operates within the PJM market region. The Plant began commercial operations in 1979. Chapter 11 Petition Date: July 26, 2026 Court: United States Bankruptcy Court District of Delaware Case No.: 26-11169 Judge: Hon. Karen B Owens Debtor's Co-Bankruptcy Counsel: Andrew L. Magaziner, Esq. YOUNG CONAWAY STARGATT & TAYLOR, LLP 1000 N. King Street Wilmington, DE 19801 Tel: 302-571-6600 Email: AMagaziner@ycst.com Debtor's General Bankruptcy Counsel: HERBERT SMITH FREEHILLS KRAMER (US) LLP Debtor's Financial Advisor: ALIXPARTNERS, LLP Debtor's Claims & Noticing Agent: STRETTO, INC. Estimated Assets: $50 million to $100 million Estimated Liabilities: $50 million to $100 million The petition was signed by David Hindman as chief executive officer. A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/EDJHY6A/Omnis_Pleasants_LLC__debke-26-11169__0001.0.pdf?mcid=tGE4TAMA List of Debtor's 30 Largest Unsecured Creditors: Entity Nature of Claim Claim Amount 1. West Virginia Economic Unsecured Loan $50,893,000 Development Authority (WVEDA) 180 Association Dr Charleston, WV 25311 Contact: Nicholas S. Preservati Email: nicholas.s.preservati@wv.gov 2. Bilt Technology LLC Unsecured Notes $20,000,000 1209 Orange Street New Castle, DE 19801 Contact: Jamie Majid Email: jamie@biltek.com 3. Blueterra Innovations, LLC Professional $600,000 425 Bay Hill Circle Services Richmond, KY 40475 Contact: Grant Talbert Tel: 859-559-7245 Email: gtalbert@marlowenergy.com 4. Merrell Bros., Inc. Operational $475,760 8811 W 500 N Vendor Kokomo, IN 46901 Contact: Dustin Smith Email: info@merrellbros.com 5. Vinson & Elkins LLP Professional $344,581 2001 Ross Ave Services #3900 Dallas, TX 75201 Contact: Daniel M. Komarek Email: payments@velaw.com 6. Litman Excavating, Inc. Operational $287,145 836 First St. Vendor New Martinsville, WV 26155 Contact: Robert Litman Email: info@litmanexcavating.com 7. United Construction Co Inc Operational $151,796 3120 Northwestern Pike Vendor Parkersburg, WV 26104 Contact: Chris Campbell Tel: 304-422-2141 8. J & J Equipment Co Operational $130,005 PO Box 156 Vendor Belmont, WV 26134-0156 Email: jandjequipmentinc@gmail.com 9. Ohio River Marine LLC Operational $95,400 1095 Irish Ridge Rd Vendor Philo, OH 43771 Contact: Rick Dement Email: rick@ohiorivermarine.com 10. Dubois Chemicals Inc Operational $69,260 2659 Solution Center Vendor Chicago, IL 60677 Contact: Diane Miller Email: diane.miller@duboischemicals.com 11. Siemens Energy Incorporated Operational $56,890 Dept. CH10169 Vendor Palatine, IL 60055 Contact: Philip Emerick Email: philip.emerick@siemens-energy.com 12. Precision Pump & Valve Service Operational $54,995 517 Old Goff Mountain Rd Vendor Cross Lanes, WV 25313 Contact: Beth Harrison Email: bharrison@ppvs.com 13. GAI Consultants Inc Operational $49,347 385 East Waterfront Drive Vendor Homestead, PA 15120-5005 Email: accountsreceivable@gaiconsultants.com 14. United Rentals North America Inc Operational $48,638 100 First Stamford Place Vendor Ste 700 Stamford, CT 06902 Contact: Joli Gross Tel: 203-622-3131 15. Filtech Incorporated Operational $39,424 622 William Marks Dr. Vendor Munhall, PA 15120 Contact: Zach Homitz Email: zhomitz@filtechinc.com 16. Black, McCuskey, Souers & Arbaugh Professional $38,621 4505 Stephen Circle NW Services Suite 200 Canton, OH 44718 Contact: Brian R. Mertes Email: bmertes@bmsa.com 17. Air Hydro Power, LLC Operational $37,827 2550 Blankenbaker Pkwy Vendor Louisville, KY 40299 Email: ar@airhyudropower.com 18. Tri-State Industrial Supply Operational $36,981 1937 Greenup Avenue Vendor Ashland, KY 41101 Contact: Mark Patton Email: mp@t-sisi.com 19. ENG Resources, LLC Operational $34,034 501 Union St Vendor Ste#888026 Nashville, TN 37219 Email: ap@engresources.com 20. Integ Enterprise Consulting Operational $33,936 38 East Park Street Vendor Newark, NJ 7102 Contact: Aida Malik Email: amalik@integconsulting.com 21. Jabo Supply Corporation Operational $26,014 209 Braley Rd Vendor Huntington, WV 25705 Tel: (304) 736-8333 22. Frenzelit Incorporated Operational $23,385 4165 Old Salisbury Rd Vendor Lexington, NC 27295 Email: info.usa@frenzelit.com 23. Bowles Rice Professional $21,904 600 Quarrier Street Services Charleston, WV 25301 Email: accounting@bowlesrice.com 24. Energy Piping, WV LLC Operational $21,886 1218 Ridge Ave Suite 101 Vendor New Cumberland, WV 26047 Email: info@energypiping.com 25. Boyd Company Cat Walker Operational $21,577 4401 Boyd Wy Vendor Louisville, KY 40211 Email: info@boydcat.com 26. Intelligent Technology Solutions Operational $21,556 11786 St Rt 9W Vendor W. Coxsackie, NY 12192 Contact: Christina Bourguignon Email: accountsreceivable@itsyourit.com 27. Control Systems Company Operational $16,936 10100 Wellman Rd Vendor Streetsboro, OH 44241 Contact: Greg Grahn Email: ggrahn@csc-parts.com 28. Instrumentation.com Operational $16,500 8800 West Chester Pike Vendor Upper Darby, PA 19082 Email: invoices@instrumentation.com 29. Pleasants, LLC Litigation Undetermined Richards, Layton & Finger, P.A. 920 North King Street Wilmington, DE 19801 Contact: Blake Rohrbacher Contact: Elizabeth J. Freud Tel: 302-651-7700 Email: rohrbacher@rlf.com Email: freud@rlf.com 30. Industrial Accessories Company Operational Undetermined 5200 Metcalf Vendor Suite 100 Overland Park, KS 66202 Email: deposits@iac-intl.com PACIFICA OF THE VALLEY: Seeks Court OK to Sell Future Receivables ----------------------------------------------------------------- Alex Wolf of Bloomberg Law reports that Pacifica of the Valley Corp., the bankrupt operator of Pacifica Hospital of the Valley, has asked a Delaware bankruptcy judge to approve the sale of $5 million in anticipated healthcare receivables to L.A. Care Health Plan for an equal amount of immediate cash. The company said the transaction is essential to maintaining liquidity while it reorganizes under Chapter 11. According to court papers, the proposed receivables sale is currently the debtor's sole viable source of funding. Pacifica emphasized that the agreement carries no interest expense, financing fees, original issue discount, or similar borrowing costs, making it substantially more favorable than traditional bankruptcy financing arrangements. The healthcare provider said the proceeds will support payroll, vendor payments, and patient care while preserving operations during the restructuring. Because the arrangement involves selling future receivables instead of borrowing against them, Pacifica contends the transaction maximizes value for creditors and avoids additional secured debt, the report relays. Based in Los Angeles, Pacifica of the Valley Corp. provides acute-care hospital services and operates outpatient medical clinics focused on low-income and underserved populations. The organization entered Chapter 11 after facing mounting financial challenges and is pursuing a restructuring designed to stabilize operations and preserve access to healthcare services, according to Bloomberg. About Pacifica Hospital of the Valley Pacifica of the Valley Corporation is the legal corporate name and operating company that owns and runs the medical facility doing business as Pacifica Hospital of the Valley in Sun Valley, California. It offers comprehensive medical services, including emergency care, surgical services, intensive care, diagnostic imaging, behavioral health, rehabilitation, and outpatient treatment. Pacifica of the Valley Corporation 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. PALM BEACH: Unsecureds Will Get 1.7% of Claims over 60 Months ------------------------------------------------------------- Palm Beach Sandal Company filed with the U.S. Bankruptcy Court for the Southern District of Florida a Second Amended Plan of Reorganization dated July 17, 2026. The Debtor sells sandals, women's clothing, and accessories. The company attempted to expand by opening additional retail locations and offering franchise opportunities, but these efforts resulted in substantial debt that became unmanageable. Before filing for bankruptcy, the company consolidated its operations into a single retail location that also serves as its warehouse for online sales. The bankruptcy filing was intended tohelp the company regain control of its finances and repay creditors. The company's ability to complete its reorganization plan depends on its future income. To support the plan, the owners agreed to reduce their monthly salaries from $6,000 to $3,100, allowing more funds to be directed to creditors. Financial projections estimate the company can pay $3,700 per month, totaling $222,000 over 60 months, to creditors. The plan classifies claims as follows: * Class 5 Florida Department of Revenue (FDOR): FDOR filed a priority unsecured claim of $282,780.34. The debtor reached an agreement to reduce the obligation to $45,000, payable at $750 per month for 60 months. This class is impaired. * Class 6 South Carolina Department of Employment: Holds a priority unsecured claim of $312.07, which will be paid on the plan's effective date. This class is unimpaired. * Class 7 General Unsecured Creditors: The debtor will pay $500 per month for 60 months, resulting in an estimated recovery of approximately 1.7% of allowed claims. This class is impaired. * Class 8 Convenience Class: Unsecured creditors with allowed claims of less than $35,000 will receive 1.7% of their claims within 30 days after the confirmation order. The owners will retain all property of the bankruptcy estate. The Subchapter V Chapter 11 Plan of Reorganization proposes to repay creditors using income generated from the continued operation of the business. For confirmation, the court must determine that creditors and equity interest holders who do not accept the plan will receive at least as much as they would in a Chapter 7 liquidation. At the time of filing, the debtor valued its inventory at $240,791 based on retail prices, while the principals estimated its liquidation value at $72,000. A full-text copy of the Second Amended Plan dated July 17, 2026 is available at https://urlcurt.com/u?l=2OdeMm from PacerMonitor.com at no charge. Counsel to the Debtor: Bryan K. McMahon, Esq. Brian K. McMahon, PA 1401 Forum Way, Suite 730 West Palm Beach, FL 33401 Telephone: (561) 478-2500 Facsimile: (561) 478-3111 Email: brian@bkmbankruptcy.com About Palm Beach Sandal Company Palm Beach Sandal Company designs, manufactures, and retails handcrafted leather sandals, producing classic footwear styles using premium leather materials. It operates a workshop and retail presence in West Palm Beach, Florida. Palm Beach Sandal Company filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. S.D. Fla. Case No. 25-25134) on December 23, 2025, listing up to $50,000 in assets and between $1 million and $10 million in liabilities. Aleida Martinez Molina, Esq., serves as Subchapter V trustee for Palm Beach Sandal Company. Judge Erik P. Kimball presides over the case. The Debtor tapped Brian K. McMahon, Esq., at Brian K. McMahon, PA as bankruptcy counsel and Michael A. Lampert, P.A. as special counsel. PALMETTO THERAPY: Unsecured Creditors "Unimpaired" in Plan ---------------------------------------------------------- Palmetto Therapy Services, Inc., filed with the U.S. Bankruptcy Court for the District of South Carolina a Disclosure Statement describing Amended Plan of Reorganization dated July 21, 2026. The Debtor is a South Carolina corporation that originally operated a physical therapy practice and fitness center at leased premises located at 811 William Hilton Parkway, Hilton Head Island, South Carolina. In 2010, the physical therapy business began operating through Palmetto Therapy HHI, LLC, and the fitness center through Lava 24 Fitness, LLC. All three entities have been owned by the same primary owner, Nathan Dixon. The physical therapy business operated until 2022, when Palmetto Therapy HHI, LLC was sold. Since 2023, the debtor's only source of revenue has been pass-through income generated by Lava 24 Fitness, LLC, which continues to operate at the leased premises. The leased property was acquired by Plantation Center of Hilton Head, LLC around 2014. Beginning in 2020, the debtor paid down historical debt in addition to making regular lease payments, which were approximately $30,000 per month in 2026, including base rent and common area maintenance charges. The debtor missed one or more lease payments during the fall of 2025 and again during the winter of 2025–2026. Although the debtor negotiated with Plantation Center, it was unable to satisfy the landlord's demands. Plantation Center scheduled an eviction proceeding for March 9, 2026, but the debtor filed this Chapter 11 case on March 8, 2026, staying the eviction. During the bankruptcy case, the debtor has received $30,000 to $35,000 per month in pass-through income from Lava 24 Fitness. The debtor expects this income to be sufficient to fund rent payments, administrative expenses, and payments required under the plan. The plan proposes to: * Allow the debtor to remain a tenant through December 31, 2026, while negotiating possible lease extensions. * Permit Lava 24 Fitness, LLC to continue operating without interruption. * Repay the debtor's creditors in full. Treatment of Claims Class 3(b) Plantation Center of Hilton Head, LLC: * Unsecured claim of $121,931.10, reduced by a $23,000 stub rent payment on the effective date, resulting in a net distribution of $98,931.10. * If not paid in full on the effective date, the remaining balance will be paid through: -- $5,000 per month for three months, followed by -- $6,994 per month for twelve months, until paid in full. * This class is unimpaired. Class 3(c) Internal Revenue Service: * Unsecured claim of $8,597.92. * The claim will be paid in full on the effective date. If not, it will be repaid in monthly installments of $538, beginning September 15, 2026, until paid in full. * This class is unimpaired. The debtor intends to fund the repayment of rent arrearages through a loan or investment made by a third party into Aloha Capital Partners, LLC. If that funding is unavailable, the debtor proposes to pay administrative expenses, secured claims, and unsecured claims using the pass-through income received from Lava 24 Fitness, LLC. A full-text copy of the Disclosure Statement dated July 21, 2026 is available at https://urlcurt.com/u?l=bk52T2 from PacerMonitor.com at no charge. Counsel to the Debtor: Michael W. Mogil Mogil Law Firm 2 Corpus Christie Place, Ste. 200 Hilton Head Island, SC 29928 Telephone: (843) 785-8110 Email: mmogil@mogillaw.com About Palmetto Therapy Services Inc. Palmetto Therapy Services, Inc. is a South Carolina corporation which initially operated a physical therapy business and fitness center in 2008 at leased premises located 811 William Hilton Parkway, Hilton Head Island, SC 29928. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.S.C. Case No. 26-01041) on March 8, 2026, with up to $50,000 in assets and liabilities. Judge Elisabetta Gm Gasparini presides over the case. Michael W. Mogil, Esq., represents the Debtor as legal counsel. PAP-R PRODUCTS: Plan Exclusivity Period Extended to Aug. 31 ----------------------------------------------------------- Judge Mary E. Lopinot of the U.S. Bankruptcy Court for the Southern District of Illinois extended Pap-R Products Company's exclusive periods to file a plan of reorganization and obtain acceptance thereof to Aug.31 and Dec. 1, 2026, respectively. As shared by Troubled Company Reporter, the Debtor believes that the instant request for an extension is consistent with sound case management, and will allow Debtor's management, and all creditors and other parties in interest adequate time to focus on the development, negotiation and documentation of a plan of reorganization. The Debtor explains that while its case isn't large, it has dealt with and continues to deal with several complicated matters, including multiple secured creditors and the need to seek DIP financing. The Debtor's reorganization is proceeding at a pace consistent with the size of the case and the complex and difficult issues confronting Debtor. The Debtor claims that an extension of the Exclusive Periods as requested herein will not prejudice any party in interest, but rather will afford Debtor an opportunity to achieve and propose a confirmable chapter 11 plan. Failure to extend the Exclusive Periods as requested herein would defeat the very purpose of section 1121 of the Bankruptcy Code -- i.e., to provide Debtor with a meaningful and reasonable opportunity to negotiate with creditors and other parties in interest and propose a confirmable chapter 11 plan. Pap-R Products Company is represented by: Larry E. Parres, Esq. Lewis Rice LLC 600 Washington Ave., Suite 2500 St. Louis, MO 63101 Telephone: (314) 444-7600 Facsimile: (314) 612-7660 Email: lparres@lewisrice.com About Pap-R Products Company Founded in 1947, PAP-R Products specializes in a wide range of coin and currency wrapping solutions. The Company's product lineup includes flat coin wrappers, automatic coin rolls, currency bands, and specialized wraps for items such as napkins and canceled checks. All products are crafted from high-quality Kraft paper and adhere to ABA standards when applicable. The company also offers custom imprinting services for most products, excluding basic bill bands and storage boxes. Pap-R Products Company sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Ill. Case No. 25-60040) on March 3, 2025, listing up to $50 million in both assets and liabilities. The petition was signed by Kenneth Scott Ware as president. Larry E. Parres, Esq., at Lewis Rice LLC, serves as the Debtor's counsel. PARKSTONE BRONXWOOD: Fannie Mae Wants Ian Lagowitz as Receiver -------------------------------------------------------------- Federal National Mortgage Association asks the U.S. District Court for the Southern District of New York to appoint Ian Lagowitz of Trigild IVL, as receiver for the two adjacent multifamily properties owned by Parkstone Bronxwood LLC, et al. Fannie Mae is the holder of the mortgage loan on the two adjacent multifamily properties located at 843-845 East 218th Street, Bronx, NY 10467, which is under a commercial foreclosure after having acquired all rights and interests by assignment from the original mortgagee. Fannie Mae says a receiver is necessary to preserve, secure, and manage the Property -- the sole hard asset collateralizing the loan -- pending a foreclosure sale. Starting Feb. 1, 2026, and continuing through present, Parkstone Bronxwood LLC failed to pay its monthly mortgage payments, as required under the Loan Documents. Fannie Mae says the failures to pay the amounts due under the Loan Documents constitute "Events of Default" under the Loan Documents, thereby triggering Plaintiff's right to pursue all available remedies, including the appointment of a receiver. Under the Loan Documents, once a default on the mortgage loan exists, Borrower not only agreed that Plaintiff may seek the ex parte appointment of a receiver, it also irrevocably consented to and agreed not to oppose such an appointment. In addition to the express language of the Loan Documents, equitable considerations counsel in favor of the appointment of a receiver. Under Borrower's management, the Property accumulated 36 open violations of New York City Department of Housing and Development rules, including many "immediately hazardous" violations. About 14 of those violations remain outstanding. Borrower has also accrued a total of $17,748.13 in judgments from the New York City Environmental Control Board ("NYCECB"). Borrower has also failed to pay the taxes on the Property, requiring Plaintiff to advance $3,727.48 to avoid the incurrence of interest and penalties. Borrower also failed to pay for the Property and Liability insurance for the Property, forcing Plaintiff to advance a total of $20,666.20 to pay the insurance premiums. Moreover, Borrower has not turned over any rents to Plaintiff following the "Events of Default" as required under the Loan Documents, nor provided any financial reporting documents, thereby depriving Plaintiff of any visibility into the financial performance of the Properties, which are the sole collateral securing the loans. Based on these undeniable Events of Default, the plain language of the Mortgage Agreement, and the balance of equities, this Court should appoint Trigild, acting through Mr. Lagowitz, as receiver over the Property so that its remaining value can be preserved and maximized. Borrower is the mortgagor and owner of the two adjacent multifamily properties containing a combined nine units. Borrower obtained a $1,692,000 loan pursuant to a Consolidated Multifamily Note, which was and continues to be secured by a Consolidation, Extension and Modification Agreement dated as of Oct. 31, 2022. The Note consolidated certain pre-existing mortgage loans into a single mortgage loan governed by a Multifamily Mortgage, Assignment of Leases and Rents, Security Agreement, and Fixture Filing and a Multifamily Loan and Security Agreement. Upon the occurrence of an Event of Default, Borrower's license to collect Rents automatically terminates, and Plaintiff is entitled to receive all Rents as they become due and payable. The Loan Documents allow Plaintiff to seek the appointment of a receiver ex parte upon the occurrence of an Event of Default. Additionally, under Section 3(e) of the Mortgage Agreements, Borrower agreed that, if Plaintiff seeks the appointment of a receiver following an Event of Default, it "expressly consents to the appointment of such receiver, including the appointment of a receiver ex parte if permitted by applicable law." On Feb. 1, 2026, Borrower failed to pay the Monthly Payments due as required under the Loan Documents and have failed to make each and every Monthly Payment due since that time. Such failures to pay the amounts due constitute multiple, discrete Events of Default under the Loan Documents, entitling Plaintiff to exercise all its rights and remedies under the Loan Documents. Borrower has failed to comply with its obligations by not submitting the required Financial Reporting Documents for Year End 2022 and continuing through the present. On April 23, 2026, Plaintiff sent a letter to Borrower notifying it that it was in default of its obligations under the Loan Documents by virtue of its failure to pay the Monthly Payments due since February 1, 2026 and its failure to provide the required Financial Reporting Documents for Year End 2022 through present, as required under the Loan Documents, as well as its incurrence of the Liens against the Property in violation of the Loan Documents. Congress chartered Fannie Mae to facilitate the nationwide secondary residential mortgage market. The Housing and Economic Recovery Act of 2008 (HERA), Pub. L. No. 110-289, 122 Stat. 2654 (codified as 12 U.S.C. Section 4511 et seq.), established the Federal Housing Finance Agency (FHFA) as Fannie Mae's primary regulator. On Sept. 6, 2008, pursuant to HERA, the Director of FHFA placed Fannie Mae into conservatorship, where it remains to this day. As Conservator, FHFA succeeded to all of Fannie Mae's rights, titles, powers, privileges, and assets. It is also empowered to preserve and conserve Fannie Mae's assets and property, to operate Fannie Mae, to perform all of its functions, and to collect all obligations and money due to Fannie Mae. Congress also mandated that no court may take any action to restrain or affect the exercise of being a conservator. FHFA supports the appointment of a receiver on the terms set forth in the proposed Order accompanying Fannie Mae's receivership request. However, FHFA reserved its rights as to any other or different terms for the appointment of a receiver that have not been approved by FHFA in advance. In the absence of a court-appointed receiver, there is every reason to believe that Borrower's mismanagement will result in the accumulation of additional violations against the Property, further diminishing the value of the collateral securing the loan, and therefore impairing the Plaintiff's ability to recover on the loan. Trigild is a full-service, fiduciary real estate company experienced in handling every aspect of receiverships, including asset management accounting, leasing, tenant relations, and property services. Since 1988, Trigild has handled more than 2,000 receivership appointments for more than 3,500 real estate and business assets. As a managing partner of Trigild, Mr. Lagowitz has been involved in nearly one thousand receivership, fiduciary, and trustee appointments over the course of his twenty five-year real estate career. He is highly experienced in property evaluation, leasing, sales, redevelopment, brownfield redevelopment, mergers and acquisitions, institutional work-outs, asset recovery, and property management. The proposed project team to support Mr. Lagowitz during this receivership is comprised of a team of professionals with similarly extensive experience with receivership work. Chris Neilson, a managing partner, has been a receiver for all types of commercial properties, including multi-family apartments, and is an approved fiduciary in the State of New York. Likewise, David Wallace, Chief Legal Officer, oversees Trigild's team in court-ordered receiverships for assets across the nation, successfully resolving distressed loans and preserving assets as a court-appointed fiduciary. Maegan Kalbermatten, Director of Operations & Receiverships; Nancy Daniels, Senior Vice President; and Ava Stapp, Manager of Receivership Services and Marketing, would also provide critical support as part of the proposed project team. About Parkstone Bronxwood LLC et al. Parkstone Bronxwood LLC owns two adjacent multifamily properties located at 843-845 East 218th Street, Bronx, NY 10467. Parkstone Bronxwood LLC is facing a foreclosure case captioned as Federal National Mortgage Association v. Parkstone Bronxwood LLC et al., Case No. 1:26-cv-04876 (S.D. N.Y.), before the Hon. Jeannette A. Vargas. The case was filed on June 9, 2026. Fannie Mae alleges that Parkstone Bronxwood has defaulted on its obligations under the note, mortgage and other loan documents evidencing and/or securing a $1,692,000.00 loan, originally provided on Oct. 31, 2022 governed by a Multifamily Mortgage, Assignment of Leases and Rents, Security Agreement, and Fixture Filing and a Multifamily Loan and Security Agreement. Counsel for Fannie Mae: Dean L. Chapman Jr., Esq. AKIN GUMP STRAUSS HAUER & FELD One Bryant Park New York, NY 10036 Tel: (212) 872-8095 Fax: (212) 872-1002 E-mail: dchapman@akingump.com Defendants Yehuda Nussbaum and Parkstone Bronxwood LLC are represented by: Mark Francis Heinze Ofeck & Heinze, L LP Tel: 212-488-9900 E-mail: markfheinze@gmail.com PERFORMANCE CONSULTING: Gets Final OK to Use Cash Collateral ------------------------------------------------------------ The U.S. Bankruptcy Court for the Middle District of Tennessee, Nashville Division, entered a final order authorizing Performance Consulting, LLC to use cash collateral. Under the final order, the Debtor is authorized to continue using cash collateral to pay its operating expenses in accordance with its previously filed budget. The Debtor is also authorized to access existing cash, bank deposits, cash equivalents, post-petition revenues, accounts receivable, and funds held by third-party payment processors without interference from creditors claiming an interest in those assets. As adequate protection, potential lienholders will be granted replacement liens on the Debtor's post-petition property and proceeds to the same extent and priority as their pre-petition liens. Potential lienholders include Planters Bank, Inc., Old Second National Bank, First Citizens Bank, NewTek Small Business Finance, LLC, Ameris Bank, Trustmark National Bank, and several other secured creditors. In addition, the Debtor is required to continue its monthly payments of $4,000 to Planters Bank until further court order. The court reserved all parties' rights to later challenge the validity, priority, or enforceability of liens and the adequacy of protection. The order is available at http://bankrupt.com/misc/PerformanceConsulting_CCOrder67.pdf About Performance Consulting LLC Performance Consulting, LLC, doing business as MainStream Heating & Cooling, is a family-owned heating and cooling company based in Clarksville, Tennessee. Founded in 1995, the company provides residential and commercial HVAC services including heating, air conditioning, duct cleaning, furnace services, geothermal installation, radiant floor heating, indoor air quality, refrigeration service, and equipment repairs and installations. It also offers HVAC-related products such as humidifiers, mini split systems, packaged systems, split systems, thermostats, and home safety products. The company serves Clarksville, Montgomery County, surrounding areas in Tennessee, and Oak Grove, Kentucky. Performance Consulting sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Tenn. Case No. 26-02570) on May 29, 2026. In the petition signed by Daryl Pater, chief manager, the Debtor disclosed $541,402 in total assets and $9,880,980 in total liabilities. Judge Charles M. Walker oversees the case. Judge Charles M. Walker oversees the case. Jay R. Lefkovitz, Esq., at Lefkovitz & Lefkovitz, PLLC represents the Debtor as counsel. PERFORMERS EDGE: Gets Final OK to Use Cash Collateral ----------------------------------------------------- The U.S. Bankruptcy Court for the Southern District of Indiana entered a final order authorizing Performers Edge, LLC to use cash collateral. Under the final order, the Debtor is authorized to use cash collateral for operating expenses in accordance with the approved budget, subject to a 15% rolling monthly negative variance. As of the petition date, the Debtor held approximately $8,000 in cash and cash equivalents and had approximately $800 in accounts receivable, all of which may constitute cash collateral under the Bankruptcy Code. Based on the Debtor's preliminary review, the creditors that may have interests in its cash collateral through filed UCC financing statements are Newtek Bank, N.A., C T Corporation System, and Corporation Service Company. Newtek claims an interest in most of the Debtor's assets while C T Corporation and Corporation Service Company claim security interests in equipment and future receivables, respectively. Pursuant to the final order, Newtek and other secured creditors will be granted adequate protection through replacement liens. As additional protection, the bank will continue to receive monthly payments of $3,400. The Debtor is required to deposit $8,800 into a trust account, with Newtek receiving a lien on those funds; file a plan of reorganization by September 28, including updated budget projections; and provide monthly variance reports and financial information to the bank. Events of default include failure to comply with the budget or make required payments to Newtek. Following notice of default, the Debtor has seven days to cure, with only three cure opportunities permitted during the term of the cash collateral order. If an uncured default occurs, the bank may seek expedited relief from the automatic stay. A copy of the court's order is available at https://shorturl.at/Sz7Bp from PacerMonitor.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. PLEASANT GROVE: Seeks to Hire Vestcorp LLC as Accountant -------------------------------------------------------- Pleasant Grove Tabernacle, Inc. seeks approval from the U.S. Bankruptcy Court for the Eastern District of New York to employ Vestcorp LLC as accountants. The firm will render these services: a. gather and verify all pertinent information required to compile and prepare monthly operating reports; b. prepare monthly operating reports for the debtor in this bankruptcy case; c. prepare any necessary reports pursuant to Fed. R. Bankr. P. 2015(3) regarding non-debtor businesses; d. prepare budgets, and financial disclosures; e. assist Debtor in administering this case; f. render such additional services as Debtor may require in this case. Vestcorp's hourly rates are: Managing Director $400 Principal $350 Tax Accountant $250 Associate $195 Irv Schwarzbaum, CPA, a managing director at Vestcorp, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Irv Schwarzbaum, CPA Vestcorp, LLC 623 Eagle Rock Avenue, Suite 364 West Orange, NJ 07052 Telephone: (973) 787-0123 Email: ischwarzbaum@vestcorp.net About Pleasant Grove Tabernacle Pleasant Grove Tabernacle, Inc., doing business as Pleasant Grove Baptist Church, is a Baptist denomination religious organization based in Brooklyn, New York, that provides worship services, spiritual guidance, and community outreach programs. Founded by the late Rev. Jesse A. Bunn, the church held its first services in his home in 1952 and moved through several locations before establishing its current facility at 1927 Fulton Street in 1970. The organization focuses on fostering spiritual growth among its members, developing leadership within the congregation, and serving the local community through various ministries and outreach initiatives. Pleasant Grove Tabernacle sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.Y. Case No. 25-45931) on December 11, 2025. In the petition signed by Albert Jamison, chief executive officer (CEO), the Debtor disclosed up to $10 million in estimated assets and estimated liabilities. Honorable Bankruptcy Judge Elizabeth S. Stong handles the case. The Debtor tapped Shiryak, Bowman, Anderson, Gill & Kadochnikov, LLP as counsel and Vestcorp LLC as accountant. PLYMOUTH PLACE: Fitch Affirms 'BB+' IDR, Outlook Stable ------------------------------------------------------- Fitch Ratings has affirmed the 'BB+' issuer default rating (IDR) and the 'BB+' rating on the series 2021A and 2022A revenue bonds issued by the Illinois Finance Authority on behalf of Plymouth Place. The Rating Outlook is Stable. Entity/Debt Rating Prior ----------- ------ ----- Plymouth Place (IL) LT IDR BB+ Affirmed BB+ Plymouth Place (IL) /General Revenues/1 LT LT BB+ Affirmed BB+ Fitch has affirmed Plymouth Place's IDR at 'BB+'. The rating incorporates approximately $55 million of planned additional debt to fund a 38-unit independent living unit (ILU) expansion. Demand for both the project and the broader community is strong. Plymouth Place reserved 22 of 38 units in less than one month of marketing, while ILU occupancy on the existing campus has generally exceeded 93% with a waitlist of 62. Fitch expects initial entrance fees to repay more than half of the project-related debt. Although the expansion will pressure cash-to-adjusted debt below rating-appropriate levels in the near term, Fitch expects balance sheet metrics to return to appropriate levels following stabilization and repayment of debt with initial entrance fees. SECURITY The bonds are secured by an interest in the gross revenues of Plymouth Place, mortgaged properties and debt service reserve funds. KEY RATING DRIVERS Revenue Defensibility - 'bbb' Sustained Demand Momentum Plymouth Place's occupancy across the continuum remains strong at 98% as of July 15, 2026. Demand for the planned expansion is also encouraging. As of mid-July, 58% of units reserved, including many of the most expensive units were reserved. Fitch expects the project to fill in line with management's plan. The Chicago metropolitan area is competitive for senior living, but competition from full-continuum Type A providers is more limited. Favorable service area demographics support regular increases in both monthly service fees and entrance fees, with entrance fees remaining consistent with local housing values based on Zillow data. Plymouth has demonstrated a disciplined pricing strategy. It has regularly increased EF that exceed 10% on desirable units and reduced long-term refund liabilities through greater use of Type C contracts. Management has also raised monthly fees and reduced dining allowances for newer residents without reducing demand. Operating Risk - 'bbb' Favorable Operations; Weaker Capital Related Metrics Plymouth Place's operating profile is consistent with Fitch's midrange assessment. Since fiscal 2021, the organization has reported an average operating ratio of 95.9%, NOM of 11.6%, and NOMA of 20.4%. These metrics reflect good cost controls for a predominantly Type A provider. Fitch expects operating performance to remain in line with the midrange assessment. The average age of plant was about eight years in FYE 2025. Capex-to-depreciation has averaged over 400% in recent years due to expansion spending. Excluding the project, Fitch expects routine capex to trend below depreciation. The expansion is expected to open and begin filling in early 2028. Revenue-only MADS coverage improved to 1.2x in fiscal 2025 from levels historically below 1.0x. MADS as a percentage of revenue remained weak at 20% due to debt from the prior expansion. Fitch expects additional debt for the 38-ILU expansion to weaken capital metrics below the midrange assessment. Overall, the operating risk profile balances Plymouth's solid cost flexibility and manageable routine capex requirements against weaker capital-related metrics. Financial Profile - 'bb' Limited Financial Flexibility Fitch expects Plymouth Place's leverage metrics to return to levels consistent with the 'BB+' rating following receipt of initial entrance fees and redemption of short-term construction debt. At FYE 2025, cash to adjusted debt was 35%, somewhat weak for the rating but consistent with the 'bb' financial profile assessment, and improved from 23% at FYE 2022 following the prior expansion. Although additional debt will pressure this metric in the near term, Fitch expects successful project fill, together with continued cost control, to restore balance sheet measures over time. Liquidity remains neutral, with days cash on hand expected to stay above 300 even under Fitch's stress case. Fitch-calculated MADS coverage has averaged 1.7x since fiscal 2024. In fiscal 2025, MADS coverage was 1.44x compared with revenue-only MADS coverage of 1.24x. This reflected more modest net EF receipts tied to Plymouth's shift toward lower EF contract refundability. Fitch views this transition as credit positive over time, because it reduces refund liabilities while preserving overall balance sheet stability. Asymmetric Additional Risk Considerations None RATING SENSITIVITIES Factors that Could, Individually or Collectively, Lead to Negative Rating Action/Downgrade - Cash to adjusted debt stabilizing below 30% will pressure the rating; - Weakening in performance such that the operating ratio is consistently above 105%, and MADS coverage below 1.2x; - Deterioration in demand such that existing ILU occupancy is sustained below 90%. - Failure to achieve 70% reservations before expansion construction. Factors that Could, Individually or Collectively, Lead to Positive Rating Action/Upgrade - Strengthening of the financial profile such that cash to adjusted debt improves to 50% or greater in a stress case, and MADS coverage is consistently above 2x. PROFILE Plymouth Place operates a predominantly Type A life plan community located in La Grange Park, IL, roughly 15 miles west of downtown Chicago. The organization operates 241 ILU apartments, 52 ALUs, 26 memory support units, and 80 SNF beds. Plymouth Place offers a variety of resident contracts. Most residents in the existing ILUs have chosen the 90% refundable contracts. Sources of Information In addition to the sources of information identified in Fitch's applicable criteria specified below, this action was informed by data from DIVER by Solve. Climate Vulnerability Signals The results of its Climate.VS screener did not indicate an elevated risk for Plymouth Place (IL). 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. PMIC PROPERTY: Case Summary & Three Unsecured Creditors ------------------------------------------------------- Debtor: PMIC Property Management, LLC 307 Alcide Domingue Drive Lafayette, LA 70506 Business Description: PMIC Property Management, LLC PMIC is a single-asset real estate company that owns and manages property at 307 Alcide Domingue Drive in Lafayette, Louisiana. Chapter 11 Petition Date: July 21, 2026 Court: United States Bankruptcy Court Western District of Louisiana Case No.: 26-50662 Judge: Hon. John W. Kolwe Debtor's Counsel: D. Patrick Keating, Esq. THE KEATING FIRM, APLC 220 Heymann Blvd. Lafayette, LA 70503 Tel: (337) 233-0300 Fax: (337) 233-0694 E-mail: rick@dmsfirm.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Patrick Moore as managing member. A copy of the Debtor's list of its three unsecured creditors is available for free on PacerMonitor at: https://www.pacermonitor.com/view/QSM5O2A/PMIC_Property_Management_LLC__lawbke-26-50662__0003.0.pdf?mcid=tGE4TAMA A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/QKZXH7Y/PMIC_Property_Management_LLC__lawbke-26-50662__0001.0.pdf?mcid=tGE4TAMA PREMIER GENERATOR: Unsecured Creditors to Split $57K in Plan ------------------------------------------------------------ Premier Generator Service, LLC filed with the U.S. Bankruptcy Court for the Eastern District of Michigan a Plan of Reorganization dated July 21, 2026. The Debtor is an LLC in good standing operating out of the Debtor's Representative Steve Withrow's home located in St. Clair County, Michigan. The Debtor sells, installs and services home and commercial generators. The Debtor's representative started the business with no prior business experience. At the time the business opened it was undercapitalized and as well did not have accounting systems in place to assist in the bidding of jobs, the control of expenses and the collection of monies owed. This caused the Debtor to borrow from unconventional sources which caused a cashflow crunch. With creditors threatening legal action and the stress of the financial problems inhibiting Mr. Withrow's ability to concentrate on operating the business, the Debtor filed the instant chapter 11. The Debtor's financial projections show that the Debtor will have projected disposable income in an amount sufficient to meet the requirements of this Plan. Class 1 consists of Allowed Unsecured Claims. The total amount of unsecured debt totals $118,299. General unsecured creditors shall be paid the sum total of $57,000 which each creditor shall share on a pro rata basis. These funds shall be paid in 21 monthly payments of $1,000.00 and then 15 subsequent payments of $2,000 for a 15-month period. The first payment shall be due 90 days from confirmation. A full-text copy of the Plan of Reorganization dated July 21, 2026 is available at https://urlcurt.com/u?l=OiDmMM from PacerMonitor.com at no charge. Counsel to the Debtor: George E. Jacobs, Esq. 2425 S. Linden Rd., Ste. C Flint, MI 48532 Telephone: (810) 720-4333 About Premier Generator Service LLC Premier Generator Service, LLC sells, installs and services home and commercial generators. The Debtor filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. E.D. Mich. Case No. 26-30965) on April 22, 2026, with up to $50,000 in assets and $100,001 to $500,000 in liabilities. George E. Jacobs, Esq., at Bankruptcy Law Offices represents the Debtor as bankruptcy counsel. PREMIER MEAT: Plan Confirmation Hearing Scheduled for Aug. 28 ------------------------------------------------------------- The U.S. Bankruptcy Court for the Western District of Washington will hold a hearing on August 28, 2026 at 9:30 a.m. before the Honorable Timothy W. Dore to confirm the Plan of Reorganization of Premier Meat Pies, LLC. August 21, 2026 is the last day by which the holders of claims and interests may accept or reject the Plan. Acceptance or rejection shall be expressed by completing the ballot and providing it to the Debtor's attorney. An equity security holder or creditor whose claim is based on a security must be the holder of record of the security on August 14, 2026 to be eligible to accept or reject the Plan. August 21, 2026 is the last day to file an objection to confirmation of the Plan. August 14, 2026 is the last day for a secured creditor to make an election under Section 1111(b)(2) of the Bankruptcy Code. In a court filing, the Debtor had always generated sufficient business revenue to meet its monthly obligations up until 2020. In the same week that the COVID-19 shutdowns began, a former business partner, who operated the bakery in California where all the pies were produced, was diagnosed with stage four brain cancer and later passed away. As a result, the business experienced an immediate disruption to the production operations and overall stability of the business. In response to the sudden changes, the business pursued financing to establish a new bakery location in Renton, Washington to continue to supply the existing locations. During this time, the business was targeted by a fraudulent lender who appeared to have access to the application information. They represented that the Debtor had been approved for approximately $500,000.00 in funding. Unfortunately, it became impossible to operate without additional loans to fund operating expenses while still maintaining the high payments to the lenders. As a result of the high payments being made on the outstanding obligations, the Debtor fell behind on tax obligations. Facing mounting collection pressure and in an effort to reorganize the outstanding debt owed, a Petition under Chapter 11, Subchapter V was filed on April 14, 2026 (herein the "Petition Date"). Class 5 consists of General Unsecured claims. No funds will be available for Class 5 claims. This Class is impaired. The Plan will be funded with revenue from the Debtor's operation. The projected income and expenses have been annualized over the plan term to account for seasonal fluctuations. It is anticipated the Debtor's fixed expenses will remain relatively constant moving forward with variable expenses increasing proportionately with revenue. Debtor expects the income and expenses to remain consistent through the life of the Plan. The Reorganized Debtor shall continue to own, maintain, operate and manage the business without further notice or order of the Bankruptcy Court. Creditors may not take any actions against the Debtor/Reorganized Debtor (including, without limitation, lawsuits or other legal actions, levies, attachments, or garnishments) to enforce or collect either pre-confirmation obligations or obligations due under the Plan, so long as the Debtor is not in material default under the Plan. A full-text copy of the Plan of Reorganization dated July 13, 2026 is available at https://urlcurt.com/u?l=FyGzn5 from PacerMonitor.com at no charge. Counsel to the Debtor: Jennifer L. Neeleman, Esq. Thomas D. Neeleman, Esq. Neeleman Law Group, P.C. 1403 8th Street Marysville, WA 98270 Tel: (425) 212-4800 Email: jennifer@neelemanlaw.com A copy of the Court's Order dated July 20, 2026, is available at https://urlcurt.com/u?l=3s93WQ from PacerMonitor.com. About Premier Meat Pies, LLC Premier Meat Pies, LLC is a Greater Seattle food business with locations in Seattle and Renton, Washington, that sells British style savory pies and sausage rolls. It also ships frozen pies and has served Seattle guests and residents since 2015. Premier Meat Pies, LLC filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. W.D. Wash. Case No. 26-11203) on April 14, 2026, listing $184,027 in assets and $1,067,818 in liabilities. The petition was signed by Nathan Bainbridge as CEO. Judge Timothy W Dore presides over the case. Thomas D. Neeleman, Esq. at NEELEMAN LAW GROUP, P.C. serves as the Debtor's counsel. PREMIUM EDGE: Court Extends Cash Collateral Access to Aug. 26 ------------------------------------------------------------- The U.S. Bankruptcy Court for the Middle District of Florida entered a third interim order extending Premium Edge, LLC's authority to use cash collateral. Under the third interim order, the Debtor is authorized to use cash collateral through August 26 or until a further court order, strictly in accordance with an approved weekly budget, subject to a maximum 10% variance for individual line items and overall disbursements. UMB Bank, N.A., as bond trustee, will be granted adequate protection through first-priority replacement liens on substantially all of the Debtor's post-petition assets and their proceeds, excluding certain avoidance claims. The bond trustee will also receive a superpriority administrative expense claim to the extent its collateral diminishes in value. Events that could terminate the Debtor's authority to use cash collateral include unauthorized use of funds, failure to comply with the budget, dismissal or conversion of the Chapter 11 case, challenges to the bond trustee's liens, unauthorized asset sales, or the incurrence of priming debt. Upon a termination event, the bond trustee may issue a termination notice that can result in the loss of the Debtor's cash collateral authority after a brief cure period. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/zseon from PacerMonitor.com. The next hearing is scheduled for August 26. About Premium Edge LLC Premium Edge, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Flo. Case No. 26-04017) on May 29, 2026, with $50 million to $100 million in assets and $10 million to $50 million in liabilities. The petition was signed by Adriana Dall'Armellina as manager. Judge Hon. Tiffany P Geyer oversees the case. The Debtor is represented by Michael L. Schuster, Esq., at Polsinelli, PC. The U.S. Trustee for Region 21 appointed Terri Cantrell as patient care ombudsman for the Debtor. PRO ATHLETICS: Gets Final OK to Use Cash Collateral --------------------------------------------------- Pro Athletics, LLC received final approval from the U.S. Bankruptcy Court for the Central District of California to use cash collateral in accordance with its budget. The final authorization remains effective through confirmation of the Debtor's Chapter 11 reorganization plan. As adequate protection, Mega Bank will continue to receive monthly payments. Beginning August 15, the Debtor must make monthly payments of $14,145.00, subject to adjustment if the loan's interest rate changes. Meanwhile, the July 15 payment totals $16,828.74, including $3,470.62 in additional interest for the modified payment schedule. In addition, secured creditors will be granted replacement liens on the Debtor's pre- and post-petition assets, matching the validity and priority of their pre-petition liens but only to the extent their collateral declines in value because of the Debtor's post-petition use of cash collateral. The order prohibits the Debtor from using cash collateral to pay insiders unless all Bankruptcy Code, Local Bankruptcy Rule, and U.S. Trustee requirements are satisfied. The Debtor's authority to use cash collateral remains subject to further court orders, and Mega Bank retains the right to seek relief from the automatic stay if the Debtor defaults under the terms of the order. A copy of the court's order is available at https://shorturl.at/O8MMp from PacerMonitor.com. About Pro Athletics LLC Pro Athletics, LLC manufactures and sells custom athletic apparel and uniforms, including sportswear produced for team and recreational sports markets. Pro Athletics LLC filed its voluntary petitions for relief under Chapter 11 of the Bankruptcy Code (Bankr. C.D. Cal. Case No. 26-14467) on May 5, 2026, listing $122,693 in assets and $2,507,390 in liabilities. The petition was signed by Christopher A. Serna as managing member. Judge Deborah J Saltzman presides over the case. Michael Jay Berger, Esq., at the Law Offices of Michael Jay Berger serves as the Debtor's bankruptcy counsel. PRO CARPENTRY: Amends Unsecured Claims Details ---------------------------------------------- Pro Carpentry, LLC submitted an Amended Plan of Liquidation dated July 20, 2026. Pro Carpentry, LLC is a Michigan limited liability company the termination of its contract with Sheffler, which resulted in a judgment against the debtor. Before incorporated on March 27, 2009. It is owned by Adriana McGee (51%) and Dave McGee (49%). The company primarily performed rough framing for residential construction projects and also served as the general contractor on a limited number of residential building projects. The company ceased operations at the end of 2025 for two main reasons: * It had completed its major construction projects, including the Berkshire Apartments and Barrington Apartments, and was finishing its remaining residential contracts. * It faced extensive litigation that began in 2021 and intensified in 2025, resulting in hundreds of thousands of dollars in legal expenses and attorney's fees. One of the lawsuits was filed in August 2021 by former employee Marseth Luvene, who alleged racial discrimination. The debtor denies liability in that case. The debtor also believes it has a legal malpractice claim against its former attorneys, O'Reilly Rancilio, P.C., alleging they incorrectly advised the company regarding the termination of its contract with Sheffler, which resulted in a judgment against the debtor. Before filing bankruptcy, the debtor retained The Law Offices of Andrew J. Bean, P.C. to pursue this malpractice action. The debtor seeks damages equal to the $329,956.57 Sheffler judgment, along with its fees, costs, and attorney's fees. The primary purpose of the bankruptcy filing is to provide the debtor with time to pursue the legal malpractice claim and distribute any proceeds to creditors. Treatment of Claims Class III Unsecured Creditors: * The debtor estimates total allowed unsecured claims at approximately $640,081.21, consisting of: -- $329,956.57 for the Sheffler judgment. -- $10,000 for Kierpaul's allowed claim. -- $125,124.64 for the McGees' allowed unsecured claim. -- $175,000 for Pro Home Builder's LLC's allowed unsecured claim. * The estimated claim pool excludes the Luvene Litigation and Taylor Parks Litigation, which the debtor currently estimates at $0. * Net proceeds from the legal malpractice litigation will be distributed to allowed unsecured creditors on a pro rata basis. * This class is impaired. Class IV Equity Interests: * Adriana and David McGee currently own all equity interests in the debtor. * If all allowed claims are paid in full, they will retain their ownership interests. * If the proceeds from the malpractice litigation are fully distributed and allowed claims remain unpaid, their ownership interests will be cancelled. Plan Funding The debtor expects to fund the plan through: * Proceeds from the sale of the Dodge Ram Pro and other miscellaneous equipment. * Proceeds recovered from the legal malpractice litigation against O'Reilly Rancilio, P.C. The Dodge Ram Pro will be sold to David McGee. The debtor's remaining equipment and physical assets will be listed for sale on a publicly available website and may be sold to non-insider third parties without further court approval. The net proceeds from these asset sales will be used as part of the plan funding. A full-text copy of the Amended Liquidating Plan dated July 20, 2026 is available at https://urlcurt.com/u?l=x7J3ec from PacerMonitor.com at no charge. Counsel to the Debtor: Kim K. Hillary, Esq. Schafer And Weiner, PLLC 40950 Woodward Avenue, Suite 100 Bloomfield Hills, MI 48304 Telephone: (248) 540-3340 E-mail: khillary@schaferandweiner.com About Pro Carpentry LLC Pro Carpentry, LLC, was incorporated on March 27, 2009, under the laws of the State of Michigan. The Debtor sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Mich., Southern Division, Case No. 26-42605-mar) on March 11, 2026. At the time of the filing, the Debtor had estimated assets of between $0 and $50,000 and liabilities of between $500,001 and $1 million. Judge Mark A. Randon oversees the case. Schafer and Weiner, PLLC serves as the Debtor's legal counsel. R MCLAIN: Seeks to Hire Levis Law Firm as Bankruptcy Counsel ------------------------------------------------------------ R McLain Enterprises, Inc. seeks approval from the U.S. Bankruptcy Court for the Southern District of Georgia to hire Levis Law Firm, LLC as its counsel. The firm will render these services: (a) advise the Debtor with respect to its powers and duties; (b) prepare legal papers; (c) prepare pleadings and applications and conduct examinations incidental to the estate's administration; (d) take any and all necessary action to the proper preservation and administration of the estate; (e) assist the Debtor with the preparation and filing of a statement of affairs and schedules as appropriate; and (f) perform all other legal services for the Debtor. The hourly rates of the firm's counsel and staff are: Attorneys $350 Paralegals $90 The firm received a retainer in the amount of $4,000. Jon Levis, Esq., a member at Levis Law Firm, disclosed in a court filing that the firm is a "disinterested person" as that term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Jon A. Levis, Esq. LEVIS LAW FIRM, LLC Post Office Box 129 Swainsboro, GA 30401 Telephone: (478) 237-7029 Email: levis@merrillstone.com About R McLain Enterprises Inc. R McLain Enterprises Inc. operates a light construction business including site preparation, land clearing, drainage, erosion control, and related trucking within a 100-mile radius of Lyons, Georgia, generating an average monthly income of approximately $50,000. R McLain sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Ga. Case No. 26-60219) on July 24, 2026. In the petition signed by Rodney McLain, incorporator, the Debtor disclosed up to $1 million in both assets and liabilities. Judge Edward J. Coleman, III oversees the case. Jon Levis, Esq., at Levis Law Firm, LLC, represents the Debtor as bankruptcy counsel. RALIAM HOSPITALITY: Final Hearing Today on Bid to Obtain DIP Loan ----------------------------------------------------------------- The U.S. Bankruptcy Court for the Southern District of Indiana is set to hold a final hearing today on RALIAM Hospitality Group, LLC's bid to obtain debtor-in-possession financing. The Debtor was previously authorized to obtain DIP financing as well as use its cash collateral under the court's July 22 interim order. A copy of the interim order is available at https://shorturl.at/dcvqG from PacerMonitor.com. The financing consists of a $55,000 secured loan, which the Debtor's pre-petition lenders, Ash Realty SPE IV, LLC and Merchants Bank of Indiana, have agreed to provide to maintain the Debtor's real estate in Muncie, Indiana, and the personal property located therein until a closing of the sale of those properties; to pay Patidar Hotel Management Inc. under a property services agreement; and pay the quarterly fees of the U.S. trustee overseeing the Debtor's Chapter 11 case. Another source of the financing is a carveout from the net proceeds at the closing. The obligation of the Debtor's estate to repay the lenders is without interest and contingent upon the liquidation and administration of its assets other than the Muncie real estate and personal property. The Debtor's obligations under the DIP financing are secured by a first priority lien on assets, which the Debtor acquired before and after it filed for bankruptcy protection. This first priority lien is subject to the carveout. Moreover, the total amount of the financing will constitute an allowed senior administrative expense, with priority over other administrative expenses and claims against the Debtor's estate. Ash Realty and Merchants Bank of Indiana assert interest in substantially all assets of the Debtor and its affiliate Lia Hospitality Group, LLC. According to the lenders, the Debtor owed approximately $2.8 million as of the petition date, plus legal fees, accrued interest, costs, and other amounts due under their pre-petition loan agreements, which are secured by liens on the Debtor's real and personal property. The DIP lenders are represented by: Kay Dee Baird, Attorney No. 28821-73 Cassandra Nielsen, Attorney No. 31440-49 Krieg Devault, LLP One Indiana Square, Suite 2800 Indianapolis, IN 46204-2079 Telephone: (317) 636-4341 (Main) Facsimile: (317) 636-1507 kbaird@kdlegal.com cnielsen@kdlegal.com About Raliam Hospitality Group LLC Raliam Hospitality Group, LLC operates a Quality Inn hotel in Muncie, Indiana, providing midscale lodging and standard hospitality services, including accommodations and complimentary breakfast, under the franchise system of the Choice Hotels International. The company serves travelers in Muncie, Indiana, supported by university-related and regional demand. Raliam Hospitality Group sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Ind. Case No. 26-01661) on Mar. 23, 2026. In the petition signed by Chirag Patel, president, the Debtor disclosed up to $10 million in both assets and liabilities. Judge Jeffrey J. Graham oversees the case. Preeti Gupta, Esq., serves as the Debtor's legal counsel. Meredith R. Theisen, the Debtor's Chapter 11 trustee, tapped Rubin & Levin as bankruptcy counsel; and BGBC Advisory (doing business as Springline Advisory) as accountant and financial advisor. RAZAD ENTERPRISES: Hires Lane Law Firm PLLC as Bankruptcy Counsel ----------------------------------------------------------------- RAZAD Enterprises, LLC seeks approval from the U.S. Bankruptcy Court for the Eastern District of Texas to hire The Lane Law Firm, PLLC as bankruptcy counsel. The firm will render these services: (a) assist, advise and represent the Debtor relative to the administration of the Chapter 11 case; (b) assist, advise and represent the Debtor in analyzing its assets and liabilities, investigate the extent and validity of lien and claims, and participate in and review any proposed asset sales or dispositions; (c) attend meetings and negotiate with the representatives of the secured creditors; (d) assist the Debtor in the preparation, analysis, and negotiation of any plan of reorganization and disclosure statement accompanying any plan of reorganization; (e) take all necessary action to protect and preserve the interests of the Debtor; (f) appear, as appropriate, before this Court, the Appellate Courts, and other courts in which matters may be heard and to protect the interests of the Debtor before said courts and the United States Trustee; and (g) perform all other necessary legal services in this case. The firm will be paid at these hourly rates: Robert Lane, Partner $725 Matthew Bourda, Senior Counsel $700 Joshua Gordon, Partner $700 Zach Casas, Attorney $625 Kyle Garza, Attorney $600 Paralegals $250 In addition, the firm will seek reimbursement for expenses incurred. The firm received multiple payments from the Debtor totaling $35,000. Mr. Lane disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Robert C. Lane, Esq. Joshua D. Gordon, Esq. The Lane Law Firm, PLLC 6200 Savoy, Suite 1150 Houston, TX 77036 Telephone: (713) 595-8200 Facsimile: (713) 595-8201 Email: joshua.gordon@lanelaw.com About RAZAD Enterprises LLC RAZAD Enterprises, LLC manages retail stores specializing in hemp wellness products alongside the formulation and distribution of ZAR Branded CBD/THC products. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Texas Case No. 26-42502) on July 23, 2026. In the petition signed by Razia T. Qureshi Shalami, co-founder and chief operating officer, the Debtor disclosed up to $500,000 in both assets and liabilities. Robert C. Lane, Esq., at The Lane Law Firm, represents the Debtor as bankruptcy counsel. RAZAD ENTERPRISES: Seeks Subchapter V Bankruptcy in Texas --------------------------------------------------------- On July 23, 2026, RAZAD Enterprises, LLC filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Eastern District of Texas. According to court filings, the debtor reports between $100,000 and $500,000 in liabilities owed to 1-49 creditors. The petition lists estimated assets of $100,000 to $500,000 and estimated liabilities of $100,000 to $500,000. A meeting of creditors filed by US Trustee under Section 341(a) to be held on August 26, 2026 at 03:00 PM via Telephonic Dial-In Information. Court Sets Oct. 21, 2026 as Chapter 11 Plan Deadline and Jan. 19, 2027 for Government Proof of Claim. About RAZAD Enterprises LLC RAZAD Enterprises, LLC manages retail stores specializing in hemp wellness products alongside the formulation and distribution of ZAR Branded CBD/THC products. The Debtor sought protection under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Texas Case No. 26-42502) on July 23, 2026. In the petition signed by Razia T. Qureshi Shalami, co-founder and chief operating officer, the Debtor disclosed up to $500,000 in both assets and liabilities. Robert C. Lane, Esq., at The Lane Law Firm, represents the Debtor as bankruptcy counsel. RELSSEK INVESTMENTS: Hires Middlebrooks Shapiro P.C. as Attorney ---------------------------------------------------------------- Relssek Investments, Inc. seeks approval from the U.S. Bankruptcy Court for the District of New Jersey to hire Middlebrooks Shapiro, P.C. as attorneys. The firm will prepare and file motions, pleadings, and applications on behalf of the Debtor. The firm will represent in hearings and negotiate with creditors. As well as formulating and pursuing a plan of reorganization under Chapter 11. The firm will be paid at these hourly rates: Melinda D. Middlebrooks, Esq. $500 Joseph M. Shapiro, Esq. $450 Jessica M. Minneci, Esq. $400 Paralegals $100 The firm agreed to a $15,000, plus $1,738 for court costs. Middlebrooks Shapiro, P.C. is a disinterested person under 11 U.S.C. Sec. 101(14), according to court filings. The firm can be reached through: Jessica M. Minneci, Esq. MIDDLEBROOKS SHAPIRO, P.C. P.O. Box 1630 Belmar, NJ 07719-1630 Tel: (973) 218-6877 Email: jminneci@middlebrooksshapiro.com About Relssek Investments, Inc. Relssek Investments, Inc. sought protection for relief under Chapter 11 of the Bankruptcy Code (Bankr. D.N.J. Case No. 26-18384) on July 24, 2026, listing up to $50,000 in both assets and liabilities. Jessica M. Minneci, Esq. at Middlebrooks Shapiro, P.C. serves as the Debtor's counsel. RESIDENTIAL PROPERTIES: Seeks Chapter 11 Bankruptcy in Wisconsin ---------------------------------------------------------------- On July 29, 2026, Residential Properties Resources Fund II, LLC and its affiliated debtors filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Eastern District of Wisconsin. According to court filings, the debtors report between $10 million and $50 million in liabilities owed to their creditors. The petitions list estimated assets of $1 million to $10 million and indicate that no funds are expected to be available for distribution to unsecured creditors after payment of administrative expenses. About Residential Properties Resources Fund II, LLC Residential Properties Resources Fund II, LLC is a real estate investment fund that owns and manages a portfolio of residential rental properties in Milwaukee, Wisconsin. The company invests in multifamily residential real estate and generates income through the ownership, leasing, and management of rental housing assets. Residential Properties Resources Fund II, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Wis. Case No. 26-24303) on July 29, 2026. In its petition, the debtor reported estimated assets of $1 million to $10 million and estimated liabilities of $10 million to $50 million. The Honorable G. Michael Halfenger handles the case. The debtor is represented by Nicholas Kerkman and Jerome R. Kerkman of Kerkman & Dunn. RIDGEVIEW REALTOR: Voluntary Chapter 11 Case Summary ---------------------------------------------------- Debtor: The Ridgeview Realtor LLC 23 Heyward St., #1B Brooklyn, NY 11249 Business Description: The Ridgeview Realtor LLC is a real estate company that owns and leases property at 5 Ridgeview Road in Kerhonkson, New York. The approximately 85-acre property includes parkland, a private pond, an in-ground pool, and a facility of more than 55,000 square feet comprising five interconnected buildings with 83 residential rooms. The property also includes a separate four-bedroom, three-bathroom ranch-style home. Chapter 11 Petition Date: July 21, 2026 Court: United States Bankruptcy Court Eastern District of New York Case No.: 26-43491 Judge: Hon. Elizabeth S Stong Debtor's Counsel: Paul A. Rubin, Esq. RUBIN LLC 11 Broadway, Suite 715 New York, NY 10004 Tel: 212-390-8054 E-mail: prubin@rubinlawllc.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Joseph Doppelt as manager. 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/JKNPGII/The_Ridgeview_Realtor_LLC__nyebke-26-43491__0001.0.pdf?mcid=tGE4TAMA RUM SUGAR: Taps Ryan Gutierrez as Certified Public Accountant ------------------------------------------------------------- Rum Sugar Lime, LLC seeks approval from the U.S. Bankruptcy Court for the District of Nevada to employ Ryan C. Gutierrez as certified public accountant. Mr. Gutierrez will prepare the Debtor's 2025 1120S tax return, advise Debtor on tax matters and to preform bookkeeping services for Debtor's 2026 tax year. Mr. Gutierrez has agreed to accept a flat fees of: (1) $750 for preparation of Debtor's annual 1120S tax return; (2) $1,500 for tax advisory services; and (3) $3,000 for bookkeeping services for the calendar year ending Dec. 31, 2026. Mr. Gutierrez assured the court that he is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code as required by Section 327(a) of the Bankruptcy Code and will not hold or represent an interest adverse to the Debtor's estate. Mr. Gutierrez can be reached at: Ryan C Gutierrez, CPA 10657 Foxberry Park Dr Reno, NV 89521 Phone: (775) 450-6605 About Rum Sugar Lime LLC Rum Sugar Lime, LLC is a Reno, Nevada-based cocktail bar and tropical lounge operating from 1039 S. Virginia St. in Midtown Reno. In addition to its lounge, the company manages the Nautilus private event venue and continues to offer seasonal food and beverage menus while restructuring its financial obligations. Established in 2018, the business also received state COVID-19 relief funding in 2021. Rum Sugar Lime sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Nev. Case No. 26-50674) on July 2, 2026. In its petition, the Debtor reports estimated assets of $50,000 to $100,000 and estimated liabilities of $500,000 to $1 million. Honorable Hilary L. Barnes handles the case. The Debtor is represented by Kevin A. Darby, Esq., at Darby Law Practice, Ltd. RYAN FAMILY: Voluntary Chapter 11 Case Summary ---------------------------------------------- Debtor: Ryan Family Properties, LLC 145 St. Catherine Blvd. Toms River, NJ 08755 Business Description: Ryan Family Properties, LLC is a single asset real estate company. Chapter 11 Petition Date: July 20, 2026 Court: United States Bankruptcy Court District of New Jersey Case No.: 26-18258 Judge: Hon. Michael B. Kaplan Debtor's Counsel: Timothy P. Neumann, Esq. BROEGE NEUMANN FISCHER & SHAVER, LLC 25 Ave Voorhees Drive Manasquan, NJ 08736 Tel: (732) 223-8484 Email: timothyneumann25@gmail.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Regina O'Donnell as president. 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/5GB6BUA/RYAN_FAMILY_PROPERTIES_LLC__njbke-26-18258__0001.0.pdf?mcid=tGE4TAMA SAILORMEN INC: Gets Court Nod to Use Cash Collateral for Payroll ---------------------------------------------------------------- The U.S. Bankruptcy Court for the Southern District of Florida, Miami Division, entered an order granting Sailormen, Inc. approval to use cash collateral for payroll. The order authorized the Debtor to pay $2,256,017.42 in total payroll expenses for the period ending July 12. Of this amount, the Debtor may use up to $1,826,722 from BMO Bank, N.A.'s cash collateral, while the remaining payroll costs must be paid from escrow funds maintained for the Debtor's professionals. The court also ruled that the provisions of the previously entered final cash collateral order and the joint stipulation extending the Debtor's authority to use cash collateral remain in full force and continue to govern the authorized use of cash collateral, except where inconsistent with this order. The order is available at http://bankrupt.com/misc/SailormenInc_CCOrder808.pdf BMO Bank acts as administrative agent for senior secured lenders under a 2020 credit agreement, and Popeyes Louisiana Kitchen, Inc. The lenders have a first-priority security interest in substantially all of the Debtor's assets, including cash and accounts receivable. As of January 15, the Debtor was indebted to the lenders in an amount not less than $129,982,639, consisting of the unpaid principal balance totaling $112.4 million, accrued interest totaling $14.6 million, plus other accrued and unpaid fees and expenses. About Sailormen Inc. Sailormen Inc. is a leading franchisee of Popeyes Louisiana Kitchen restaurants. Sailormen Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 26-10451) on January 15, 2026. In its petition, the Debtor reports estimated assets between $100 million and $500 million and $342 million in liabilities. Honorable Bankruptcy Judge Robert A. Mark handles the case. The Debtor tapped Shraiberg Page, P.A. and Cole Schotz, P.C. as bankruptcy counsel; Peak Franchise Capital, LLC as investment banker; and David M. Baker of Aurora Management Partners Inc. as chief restructuring officer. Stretto Inc. is the claims, noticing, and balloting agent. The U.S. Trustee for Region 21 appointed an official committee to represent unsecured creditors in the Debtor's case. The committee tapped Lowenstein Sandler LLP as lead bankruptcy counsel; Stearns Weaver Miller Weissler Alhadeff & Sitterson, P.A. as local counsel; and FTI Consulting, Inc. as financial advisor. BMO Bank, as administrative agent, is represented by: Paul Steven Singerman, Esq. Jordi Guso, Esq. Erin M. Hoskins, Esq. BERGER SINGERMAN LLP 1450 Brickell Avenue, Suite 1900 Miami, FL 33131 Telephone: (305) 755-9500 Facsimile: (305) 714-4340 singerman@bergersingerman.com jguso@bergersingerman.com ehoskins@bergersingerman.com -- and -- Peter P. Knight, Esq. Terence G. Banich, Esq. Alexander L. Norman, Esq. Katten Muchin Rosenman LLP 525 W. Monroe Street Chicago, IL 60661-3693 Telephone: 312.902.5200 peter.knight@katten.com terence.banich@katten.com alex.norman@katten.com SALEM POINTE: Updates Unsecureds & Rarity Bay Secured Claims ------------------------------------------------------------ The Club at Rarity Bay, Inc. and BEP Rarity Bay, LLC (collectively the "Plan Proponent") submitted a Second Amended Disclosure Statement describing Amended Plan for Salem Pointe Capital, LLC dated July 20, 2026. The Club at Rarity Bay, Inc. and BEP Rarity Bay, LLC, acting jointly as the Plan Proponent, seek confirmation of a Chapter 11 plan with an anticipated effective date in the fourth quarter of 2026, although the document notes there is no assurance the Bankruptcy Court will approve the plan on that timetable. A central component of the plan is the sale of certain real property owned by the debtor to BEP Rarity Bay, LLC. For a $1,000,000 purchase price and additional settlement consideration, the reorganized debtor will transfer property consisting of: * 51 lots in Phase 17, * 8 lots near Shearwater Drive, * approximately 3 acres near the community garden and dog park, and * approximately 11.2 acres near Keeble Road. The purchase price is based on BEP's internal valuation, taking into account the property's location, its inability to be annexed into the Rarity Bay development, and the lack of existing agreements providing access, utility connections, or use of community amenities. The Plan Proponent intends to present expert valuation testimony at the confirmation hearing. In addition to the property transfer, the reorganized debtor and TCRB will provide $1,250,000 in membership-related credits that BEP may use or transfer to future purchasers to offset golf or social membership certificates, initiation fees, dues, or similar charges. These transactions are contingent upon execution of: * a Use Agreement granting access, utility, and amenity rights for certain properties, and * an ARG Agreement governing architectural design review for specified lots. The plan proposes to reject existing golf and social memberships. After the effective date, existing members who are not Founding Certificate Members (FCMs), as well as new members, may either: * purchase a TCRB Certificate of Membership, or * become annual club members. Founding Certificate Members previously paid $10,000 for their memberships, which is below the current cost because of their earlier investment and the associated risks. To demonstrate feasibility, the Plan Proponent prepared unaudited financial projections, which it believes show that the reorganized debtor will remain a viable operation after confirmation and will not require liquidation or additional reorganization. Class 2 Secured Claim of Rarity Bay Partners (RBP): * RBP holds secured claims totaling approximately $7,042,000, if allowed. * On the effective date, the allowed secured claim would be reduced by: -- $1,000,000 from the BEP purchase price, -- $1,000,000 representing BEP additional funds, -- $500,000 from the 2019 settlement proceeds, and -- $200,000 in escrowed social membership initiation fees. * Remaining secured debt would bear 6.65% interest, amortized over 240 months with a 120-month balloon payment. * RBP would retain its liens, except that the property sold to BEP would be released from RBP's liens upon payment of the purchase price. If RBP's secured claim is completely disallowed, then: * the amounts listed would instead be paid to Class 10 creditors on the effective date, and $4,300,000 would be paid to Class 10 creditors in quarterly installments of $107,500 over 40 consecutive quarters. Class 10 General Unsecured Claims. Holders of allowed claims will receive: * their pro rata share of the guaranteed Class 10 payment from the reorganized debtor, * distributions from the General Unsecured Creditor (GUC) Trust, and * additional payments if RBP's secured claim is reduced or disallowed. If RBP's secured claim is allowed for less than $7,042,000, unsecured creditors will receive the difference between the allowed amount and $7,042,000, paid in equal quarterly installments over 40 consecutive quarters. The Plan Proponent states that it has sufficient funding available to implement the plan: * TCRB has $1,500,000 available for plan payments. * BEP has approved $2,000,000 in funding. Together, these funds will be used on the effective date to reduce secured debt and pay administrative and priority claims. In exchange: * $1,000,000 of BEP's funding is exchanged for the real property being conveyed to BEP. * The remaining $1,000,000 is exchanged for $1,250,000 in transferable membership credits that may be applied toward future golf or social club fees by BEP or subsequent purchasers. A full-text copy of the Second Amended Disclosure Statement dated July 20, 2026 is available at https://urlcurt.com/u?l=qFEfze from PacerMonitor.com at no charge. Attorneys for The Club at Rarity Bay, Inc.: MARY D. MILLER, PLLC Mary D. Miller, Esq. P.O. Box 5339 Knoxville, TN 37928 (865) 934-4000 Email: mmillerservice@millerlaw.solutions Attorneys for BEP Rarity Bay, LLC: BUTLER SNOW LLP William R. Oâ€™Bryan, Jr., Esq. C.E. Hunter Brush, Esq. 1320 Adams Street, Suite 1400 Nashville, TN 37208 (615) 651-6724 Email: Bill.OBryan@butlersnow.com Hunter.Brush@butlersnow.com And R. Campbell Hillyer, Esq. 6075 Poplar Avenue, Suite 500 Memphis, TN 38119 (901) 680-7326 Email: cam.Hillyer@butlersnow.com About Salem Pointe Capital Salem Pointe Capital, LLC, is a financial services company that typically focuses on investment and capital management. Its operations include providing financing solutions, investment opportunities, and asset management to various sectors. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Tenn. Case No. 24-31702) on Sept. 29, 2024, with $10 million to $50 million in both assets and liabilities. Judge Suzanne H. Bauknight oversees the case. The Debtor is represented by James R. Moore, at Moore & Brooks. SANCTUS RANCH: Seeks Chapter 11 Bankruptcy in Texas --------------------------------------------------- On July 23, 2026, Sanctus Ranch, 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 owed to 1-49 creditors. The petition lists estimated assets of $1 million to $10 million and estimated liabilities of $1 million to $10 million. A meeting of creditors under Section 341(a) set for August 19, 2026 at 01:00 PM via Via Phone: (888)330-1716; Code: 222678. About Sanctus Ranch, LLC Sanctus Ranch, LLC is a Pipe Creek, Texas-based retreat center and event venue operator. The company owns and operates a 36-acre campus that hosts religious retreats, conferences, and special events, accommodating groups of up to 100 participants. The property historically operated as a Catholic retreat center before transitioning to an independent ministry and event venue. Sanctus Ranch, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Tex. Case No. 26-51966) on July 23, 2026. In its petition, the debtor reported estimated assets of $1 million to $10 million and estimated liabilities of $1 million to $10 million. The Honorable Craig A. Gargotta handles the case. The debtor is represented by Marcus Jermaine Watson of Offit Kurman. SANDERS & ASSOCIATES: Plan Confirmation Hearing Set for Aug. 17 --------------------------------------------------------------- The U.S. Bankruptcy Court for the Southern District of Texas will hold a hearing on August 17, 2026, at 10:00 a.m. before the Honorable Eduardo V. Rodriguez to confirm the First Amended Plan of Reorganization of Sanders & Associates Tax & Accounting Solutions Corp. The Bankruptcy Court has set a hearing on related deadlines as follows: * The deadline to object to confirmation of the plan is August 4, 2026. * The deadline to file a notice of election under Section 1111(b) of the Bankruptcy Code is August 6, 2026. * The deadline to submit ballots is August 6, 2026. All ballots must be filed with the Clerk of Court. As shared by the Troubled Company Reporter, this Plan of Reorganization proposes to pay Debtor's creditors from the cash flow generated in the ordinary course of the Debtor's business after confirmation. Class 3 consists of the allowed unsecured claim of WADS Broadmoor Realty LLC for $7,000.00 for lease arrears pursuant to lease of commercial premises consisting of approximately 3,200 sq. ft. of office space located at 1707 Broadmoor Dr. Ste. 103 Bryan, TX 77802-5219. The Debtor will pay the arrearage claim of $7,000.00 to Class 3 by no later than January 10, 2027. The claim will be paid in approximately equal monthly installments for months 1-6. Debtor will also make the current payments to the Class 3 creditor in addition to the arrearage amounts. Class 4 consists of all other non-priority unsecured claims allowed under Section 502 of the Code. The aggregate amount of Class 4 claims is approximately $13,983.57. (The aggregate amount of Class 4 including the disputed claims is $206,613.92). The Debtor will pay the projected disposable income in the amount as set forth on the projections for a period of sixty months following the Effective Date to creditors in this class with allowed claims in the amount set forth on the projections with this plan. Debtor may pay these amounts in quarterly distributions. In the case of claims for which pro rata distributions are less than twenty-five dollars per month, the Debtor or the Subchapter V Trustee will hold the payment amounts and send one payment at the end of the plan term. The equity security holders will retain the interest in the Debtor. A full-text copy of the First Amended Plan dated July 7, 2026 is available at https://urlcurt.com/u?l=363N2A from PacerMonitor.com at no charge. Counsel to the Debtor: Reese W. Baker, Esq. Nikie Marie Lopez-Pagan, Esq. Baker & Associates 950 Echo Lane, Ste. 300 Houston, TX 77024 Tel: (713) 979-2279 Fax: (713) 869-9100 A copy of the Court's Order dated July 20, 2026, is available at https://urlcurt.com/u?l=zROCyI from PacerMonitor.com. About Sanders & Associates Sanders & Associates Tax & Accounting Solutions Corp. is a tax and accounting firm and operates from a single location at 1707 Broadmoor Dr. Suite 101, Bryan, Texas 77802. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 26-31611) on March 10, 2026. In the petition signed by Tracye Dobbs-Sanders, sole owner and director, the Debtor disclosed up to $50,000 in assets and up to $500,000 in liabilities. Judge Eduardo V. Rodriguez oversees the case. Reese Baker, at Baker & Associates, is the Debtor's legal counsel. SANDY ALEXANDER: SSG Served as Investment Banker in Asset Sale -------------------------------------------------------------- SSG Capital Advisors, LLC ("SSG") served as the investment banker to Sandy Alexander, Inc. ("Sandy Alexander" or the "Company") in the sale of substantially all assets to the Marth Group. The transaction closed in July 2026. Sandy Alexander is a premier provider of commercial printing, direct mail, brand environment, kitting, fulfillment, and marketing technology services. The Company serves clients across the automotive, beauty, dining, healthcare, life sciences, retail, and travel industries. Sandy Alexander leverages advanced manufacturing capabilities and proprietary technology tools to deliver integrated marketing campaigns and branded materials, including in-store displays, menus, brochures, and catalogs. Sandy Alexander has been a trusted partner to Fortune 500 companies and other enterprises for over 60 years. Despite establishing itself as a leader in the commercial printing and direct mail industries, the Company sought a new financial or strategic investor that could strengthen its market position and provide adequate liquidity to support its long-term growth initiatives. SSG was retained in February 2026 to explore the Company's strategic alternatives, including a sale of the business. SSG conducted a comprehensive marketing process that attracted interest from strategic and financial investors, who engaged in a thorough review of the business. The Company received multiple offers and ultimately pursued a sale of substantially all assets to the Marth Group through Article 9 of the Uniform Commercial Code. SSG's extensive experience in the business services industry and ability to manage complex stakeholder dynamics enabled the Company to maximize the value of its assets in an expedited timeframe. In addition, the sale of substantially all assets to the Marth Group preserves jobs, allows the legendary Sandy Alexander brand to continue, and positions the business for growth under new ownership. The Marth Group is a privately held print and marketing services holding company. Its portfolio includes EnPointe -- a leading provider of high-end production, data-driven variable print, large format, security, and compliance services -- and Digital Lizard -- a leading provider of agile, technology-forward digital print solutions. The Marth Group employs over 500 team members and operates facilities in California, Florida, Idaho, Minnesota, and New Jersey. Other professionals who worked on the transaction include: * Mark E. Freedlander, Timothy P. Malloy, Cassandra Sepanik Shoemaker, and Jacob R. Broadway of McGuireWoods LLP, counsel to Sandy Alexander, Inc.; * Mark Welch (Chief Restructuring Officer) and Michael Gaul of J.S. Held LLC, financial advisor to Sandy Alexander, Inc.; * Regina Stango Kelbon, Michael C. Graziano, Erin O'Brien Harkiewicz, and Carla C. Concha of Blank Rome LLP, counsel to the secured lender; * Michael Grau and Jennifer Botter of Focus Management Group, financial advisor to the secured lender; * Shigenobu Itoh, Tyler Van Matre, and Grant Hogan of Rutan & Tucker, LLP, counsel to the Marth Group; and * Ben Wu of PNCL Advisory Services LLC and Ivy Lee of Altaveris Advisory LLC, financial advisors to the Marth Group. About SSG Capital Advisors, LLC SSG Capital Advisors is an independent boutique investment bank that assists middle-market companies and their stakeholders in completing special situation transactions. We provide our clients with comprehensive investment banking services in the areas of mergers and acquisitions, private placements, financial restructurings, valuations, litigation, and strategic advisory. SSG has a proven track record of closing over 500 transactions in North America and Europe and is a leader in the industry. Securities are offered through SSG Capital Advisors, LLC (Member SIPC, Member FINRA). All other transactions are effectuated through SSG Advisors, LLC, both of which are wholly owned by SSG Holdings, LLC. SSG is a registered trademark for SSG Capital Advisors, LLC and SSG Advisors, LLC. SAPPHIRE EXCHANGE: Unsecureds to Split $19,950 over 3 Years ----------------------------------------------------------- The Sapphire Exchange LLC filed with the U.S. Bankruptcy Court for the Middle District of Florida a Plan of Reorganization dated July 20, 2026. The Sapphire Exchange LLC is a Florida limited liability company formed in December 2017. It manufactures and sells a proprietary dessert topping under the trade name Yum Crumbs. The company generates most of its revenue through business-to-business sales, including wholesale agreements with national retailers such as Michael's and Wawa, as well as sales to independent bakeries. It also sells directly to consumers through its website. Its principal place of business is in Orange City, Florida, at a property leased through an affiliated entity. The reorganization plan states that the company is projected to have $19,945.00 in disposable income and is expected to have sufficient cash flow to continue operating while making plan payments. The plan includes the following treatment of claims: * Class 1 Clicklease Secured Claim (Impaired): -- Approximate secured claim: $15,568.87 (less pre-confirmation payments). -- The creditor retains its lien. -- The claim will be repaid directly by the debtor in 36 monthly payments of $487.87, including principal and interest. * Class 2 EBF Secured Claim (Impaired): -- Approximate secured claim: $5,871.69 (less pre-confirmation payments). -- The creditor retains its lien. -- The claim will be repaid directly by the debtor in 36 monthly payments of $184.00, including principal and interest. * Class 3 General Unsecured Claims (Impaired): -- In a hypothetical Chapter 7 liquidation, unsecured creditors would receive approximately $0.00. -- Under the consensual plan, unsecured creditors would share $19,950.00, paid in 12 quarterly installments of $1,662.00. -- Under the nonconsensual plan, unsecured creditors would receive the debtor's projected disposable income of $19,945.00, paid over 12 quarterly installments with varying payment amounts, and plan payments would include the Subchapter V Trustee's administrative fees. -- Payments would be made directly by the debtor. * Class 4 Equity Interests (Unimpaired): -- Existing equity holders retain their ownership interests in the same proportions and structure as existed on the petition date. The plan provides that the reorganized debtor will continue operating its business. Cash generated before the plan's effective date, after operating expenses, will be used for plan payments or implementation, while cash on hand at confirmation will be available to pay administrative expenses. A full-text copy of the Plan of Reorganization dated July 20, 2026 is available at https://urlcurt.com/u?l=srKtaT from PacerMonitor.com at no charge. Counsel for the Debtor: Jeffrey S. Ainsworth, Esq. Jennifer L. Morando, Esq. Branson Ainsworth PLLC 1501 E. Concord Street Orlando, Florida 32803 Telephone (407) 894-6834 E-mail: jeff@bransonlaw.com E-mail: jennifer@bransonlaw.com About The Sapphire Exchange The Sapphire Exchange, LLC manufactures and sells a proprietary dessert topping product marketed under the trade name "Yum Crumbs." The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 26-02856) on April 21, 2026, with up to $50,000 in assets and $100,001 to $500,000 in liabilities. Jeffrey Ainsworth, at Bransonlaw, PLLC, is the Debtor's bankruptcy counsel. SHAW WELLNESS: Plan Confirmation Hearing Scheduled for Aug. 28 -------------------------------------------------------------- Judge Carlota M. Bohm of the U.S. Bankruptcy Court for the Western District of Pennsylvania conditionally approved the Disclosure Statement describing Plan of Reorganization of Shaw Wellness Clinics, P.C. The Disclosure Statement is conditionally approved as containing adequate information in accordance with section 1125 of the Bankruptcy Code and is subject to final approval of the Court at the Combined Hearing. The Debtor's request for a Combined Hearing on the final approval of the Disclosure Statement and confirmation of the Plan, and the following Confirmation Schedule, are approved: * On or before August 18, 2026, all Ballots accepting or rejecting the Plan shall be served on the attorney for the Plan Proponent. * On or before August 18, 2026, all Objections to the Disclosure Statement pursuant to Fed.R.Bankr.P. 3017.I(c)(2), and/or Objections to Plan confirmation pursuant to Fed.R.Bankr.P. 3020(b)(1), shall be filed. * The final hearing on the Disclosure Statement and Plan confirmation is scheduled for an in-person hearing on August 28, 2028, at 10:30 a.m. As shared by the Troubled Company Reporter, the Debtor initiated the instant filing as a result of several factors: A downturn in the economy due to the Covid-19 crisis, loss of a veterinary associate, and consolidating the veterinary practice into one location, Edgebrook Veterinary Clinic at 1405 Saw Mill Run Blvd, Pittsburgh, PA 15210. The Class VI unsecured claims shall be impaired. Timely filed, allowed, unsecured creditors will be paid a total of approximately 70% percent of their allowed claims. The total amount of Unsecured Claims is $390,313.00. Timely filed, allowed, unsecured creditors will be paid a total of approximately 70% percent of their allowed claims. The following creditors have filed timely claims: (a) Department of the Treasury, Internal Revenue Service, Centralized Insolvency Operation, P.O. Box 7346, Philadelphia, PA 19101-7346 (POC 2) in the amount of $2,640.00; (b) JPMorgan Chase Bank, N.A., s/b/m/t Chase Bank USA, N.A., Robertson, Anschutz, Schneid, Crane & Partners, PLLC 6409 Congress Avenue, Suite 100, Boca Raton, FL 33487 (POC 4) in the amount of $19,493.46; ( c) American Express National Bank, c/o Becket and Lee LLP, PO Box 3001, Malvern PA 19355-0701 (POC 6) in the amount of $70,381.78; (d) United States of America, Small Business Administration, c/o Anthony Arroyo, 660 American Avenue, Suite 301, King of Prussia, PA 19406 (POC 7 - Unsecured portion pursuant to the POC filed) in the amount of $135,469.55; (e) PNC Bank, National Association, PO BOX 94982, Cleveland, OH 44101 (POC 8) in the in the amount of $24,815.02; (f) Duquesne Light Company, c/o WH Burkley, LLP, 601 Grant Street, 9th Floor, Pittsburgh, PA 15219 (POC 11) in the amount of $442.94; (g) ODK Capital LLC, 4700 W Daybreak Pkwy., Ste 200, South Jordan, UT 84009 (POC 12) in the amount of $137,070.25. The Debtor has obtained Court approval to market its building located at 1117 Washington Blvd, Pittsburgh, PA 15206. The Debtor anticipates netting approximately $220,000.00 from the sale of this asset. The Net proceeds shall be dedicated toward funding of the pool of allowed, unsecured creditor claims. Additionally, the Debtor has $40,000.00 in net equity between his 2022 Ram TRX 1500 pickup truck and 2021 Lincoln Nautilus SUV vehicles. Accordingly, the Debtor shall pay that equivalent amount, to satisfy the Alternative Liquidation Test (ALT) analysis requirement under the Code. As such, the Debtor projects that between Net Sale Proceeds and ALT infusion, the sum of $260,00.00 will be available toward distribution to timely filed, allowed unsecured claims. The Debtor will pay these claims, pro-rata, over a period of five years. Distributions will be made in yearly payments on/before December 15 of each year. Distributions shall commence within the calendar year following confirmation of the plan. The closing of its former practice, Pittsburgh Animal Hospital, 1117 Washington Blvd, Pittsburgh, PA 15210, and continued operations as Edgebrook Veterinary Clinic, has allowed the Debtor to reduce overhead. The Debtor is actively marketing its prior location for sale, with the proceeds used to fund payment toward the pool of timely-filed, allowed unsecured claims. A full-text copy of the Disclosure Statement dated July 1, 2026 is available at https://urlcurt.com/u?l=X7b7ta from PacerMonitor.com at no charge. Counsel to the Debtor: Edgardo D. Santillan, Esq. SANTILLAN LAW, PC 775 Fourth Street Beaver, PA 15009 Tel: (724) 770-1040 Fax: (412) 774-2266 E-mail: ed@santillanlaw.com A copy of the Court's Order dated July 21, 2026, is available at https://urlcurt.com/u?l=FUEhui from PacerMonitor.com. About Shaw Wellness Clinics Shaw Wellness Clinics, P.C., is a veterinary and medical practice located at 1405 Saw Mill Run Blvd, Pittsburgh, PA 15210. The Debtor filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. W.D. Pa. Case No. 26-20193) on Jan. 22, 2026, listing $100,001 to $500,000 in assets and $500,001 to $1 million in liabilities. Judge Carlota M. Bohm oversees the case. Edgardo D Santillan, at Santillan Law, P.C., serves as the Debtor's counsel. SISTERS OF ST. ANN: Hires Boston Growth Partners as Consultant -------------------------------------------------------------- The Sisters of St. Ann, doing business as Anna Maria College, seeks approval from the U.S. Bankruptcy Court for the District of Massachusetts to employ Boston Growth Partners, LLC as consultant. The firm's services include: a. re-evaluating the Debtor's eligibility for ERTC refunds with respect to the previously disallowed ERTC Claim; b. performing quantitative and qualitative analyses of the Debtor's ERTC Claim and supporting calculations; c. examining, organizing, and analyzing financial, payroll, and health insurance premium data relevant to the ERTC Claim; d. evaluating the impact of governmental orders that may have caused a full or partial suspension of the Debtor's operations during COVID-19; e. documenting findings, collecting supporting evidence, and maintaining adequate files to substantiate the ERTC Claim; f. preparing adjustments to credits and assisting with any Form 941 amendments or related submissions needed to support the appeal; g. preparing and supporting appeal submissions to the IRS for the previously disallowed ERTC Claim; h. representing the Debtor in IRS appeals or examiner conferences and responding to IRS inquiries relating to the ERTC Claim; i. assisting the Debtor in negotiating any settlement or resolution of the appeal that is satisfactory to the Debtor; j. coordinating with the Debtor and its retained professionals to avoid unnecessary duplication of services and to support the administration of the Chapter 11 Case; and k. performing other non-legal ERTC audit appeal and tax consulting services requested by the Debtor and approved under the Engagement Agreement. The Debtor is required to pay BGP an initial $3,000 audit appeal filing fee; and 15% of any portion of the ERTC Claim recovered through BGP's efforts, including interest, with payment due only upon the Debtor's receipt of refunds. As disclosed in the court filings, Boston Growth Partners and its professionals are "disinterested persons" as that term is defined in section 101(14) of the Bankruptcy Code. The firm can be reached through: Michael Grosberg Boston Growth Partners, LLC 25 Old Coach Rd. Sudbury, MA 01776 Phone: (508) 969-7535 About The Sisters of Saint Ann Inc. d/b/a Anna Maria Co The Debtor is a non-profit corporation organized under the laws of the Commonwealth of Massachusetts, formally known as The Sisters of Saint Ann d/b/a Anna Maria College, a private Catholic institution of higher education located in the Town of Paxton, Worcester County, Massachusetts. The Sisters of Saint Ann sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Mass. Case No. 26-40758) on June 26, 2026. John J. Monaghan at Holland & Knight represents the Debtor as counsel. SMYRNA READY: Fitch Lowers LongTerm IDR to 'B+', Outlook Stable --------------------------------------------------------------- Fitch Ratings has downgraded Smyrna Ready Mix Concrete, LLC's (Smyrna) and Hollingshead Holding Company, LLC's Long-Term Issuer Default Ratings (IDRs) to 'B+' from 'BB-'. Fitch has also downgraded Smyrna's senior secured notes and term loan facility to 'BB' with a Recovery Rating of 'RR2' from 'BB+'/'RR2' and affirmed its ABL credit facility at 'BB+'/'RR1'. The Rating Outlook is Stable. The downgrade reflects Fitch's expectation that leverage will remain elevated due to lower margins and higher debt from elevated growth capex. The IDR reflects its leading market position, strong profitability, solid operating cashflow, diverse end-market exposure and moderate barriers to entry. The Stable Outlook reflects Fitch's expectation that margins will improve in 2027 and growth capex will decrease, modestly reducing debt in 2027 and 2028. Slower-than-expected margin expansion, resulting in high leverage, combined with substantial growth capex and limited debt reduction in a subdued operating environment could further pressure the IDR. Key Rating Drivers Elevated Leverage: Fitch expects Smyrna's EBITDA leverage to remain elevated and above the negative sensitivity for the 'B+' IDR through at least the first half of 2027, driven by temporary margin pressure, weaker EBITDA and growth capex. Fitch expects EBITDA leverage to be 5.6x at YE 2026 before declining to 4.8x at YE 2027 and 4.3x at YE 2028, supported by modest debt reduction and margin improvement. This is weaker than Fitch's previous expectation of about 4.7x at YE 2026 and remains above management's stated long-term net leverage target of 3.0x to 3.5x. (CFO-capex)/debt was negative 4.6% in 2025 and is forecast to remain modestly negative in 2026, before improving to the low-single digits in 2027. Delayed deleveraging beyond Fitch's current expectations could lead to further negative rating action. Near-Term Margin Pressure: Fitch expects EBITDA margins to decline by 50 bps to 100 bps in fiscal 2026 to 17%-18%, from 18% in fiscal 2025, driven by raw material cost inflation and geopolitical-driven energy cost pressure. Fitch expects EBITDA margins to improve to 18%-19% in fiscal 2027 and 2028, supported by improved gross margins, operational efficiencies, and cost saving initiatives. However, a weaker-than-expected demand environment that limits volume growth, or slower-than-expected margin improvement, could further pressure the rating. Capex Moderation to Support Deleveraging: Fitch expects Smyrna to generate negative FCF of $100 million to $125 million in 2026 due to elevated capex, with about 70% weighted toward discretionary growth spending. Fitch expects FCF margins to improve to 2%-4% in 2027 and 2028 as EBITDA margins expand and growth capex decreases. Fitch forecasts capex at about 11% of revenue in 2026 and 7%-8% in 2027 and 2028. Fitch expects Smyrna to use FCF for debt reduction. Strategic Growth: Since 2005, Smyrna has completed 123 acquisitions totaling about $2.9 billion. The company has also invested heavily in growth capex, with capex averaging 10%-11% of sales in 2023-2025 and forecast to be 11% in 2026. This strategy has expanded scale and geographic diversity but also increased debt, partly reflecting ownership of most of its plant network. Fitch views the growth strategy positively over the long term, as greater scale and diversification should help Smyrna withstand regional downturns. Fitch expects Smyrna to continue pursuing bolt-on acquisitions in 2026 and 2027. Leadership Position: Smyrna is the largest ready-mix producer with 565 concrete plants, 35 aggregates quarries and 11 cement terminals. It is vertically integrated in key markets and derives some revenue from aggregates and cement distribution. Fitch believes the company's scale and vertical integration is a competitive advantage. Benefits include lower costs from economies of scale, a consistent supply of raw materials, and flexibility during economic and construction downturns. Subdued Demand: Fitch expects U.S. demand to remain subdued in 2026, as weak housing activity offsets strength in public construction and select private non-residential segments. Private non-residential construction is expected to be flat overall, supported by data centers and institutional projects, while U.S. public construction spending grows 5% in 2026. Despite the softer backdrop, Fitch expects high-single-digit revenue growth in 2026, driven by high-growth markets, select commercial activity and new greenfield projects, followed by modest volume growth and continued pricing gains in 2027. Diverse Revenue Sources: Revenue is balanced between residential and non-residential construction, with some public construction exposure. While private construction's cyclicality poses profitability risks, market diversity helps insulate the company from downturns, as residential and non-residential construction cycles differ. Fitch also expects the company to increase its exposure to public construction during periods of weak private construction demand. Smyrna's modest geographic diversity offers additional protection against regional downturns, and the company is well-positioned to benefit from high-growth construction markets like Texas and the Southeast. Moderate Barriers to Entry: Barriers to entry in the ready-mix concrete industry are moderate due to the upfront capital investment required for production facilities. By contrast, the aggregates industry faces higher barriers because stringent zoning and environmental restrictions limit new quarry development. Fitch believes these conditions deter new entrants and limit competition, supporting Smyrna's leading market positions and modest pricing power over the medium to long term. Ownership Prioritizes Growth: Smyrna is a privately held company with concentrated ownership, which poses increased risk of shareholder-friendly activities relative to publicly traded peers. Management has been aggressive with its growth strategy, funding acquisitions and growth capex with incremental debt, which has kept leverage elevated. However, the company has refrained from significant cash distributions to its shareholders during this growth phase. Its rating case forecast assumes modest cash distributions in 2026 and beyond. Peer Analysis Smyrna's EBITDA margins are broadly in line with those of global producer Cemex, S.A.B. de C.V. (BBB-/Positive), but weaker than those of larger U.S. aggregates-focused peers Martin Marietta Materials, Inc. (BBB+/Negative) and Vulcan Materials Company (BBB+/Stable). Smyrna's credit metrics are weaker than those of its larger investment-grade peers, reflecting its smaller scale and narrower diversification. Smyrna is focused on U.S. residential and nonresidential construction, with limited exposure to public construction, and generates most of its product revenue from ready-mix concrete. In contrast, Martin Marietta and Vulcan benefit from greater exposure to aggregates, which supports more stable pricing through construction cycles and a more balanced end-market mix. Fitch’s Key Rating-Case Assumptions - Revenues increase high-single digit in 2026 and grow organically mid-single digits in 2027 and 2028; - EBITDA margin between 17%-18% in 2026 and increasing to 18%-19% in 2027 and 2028; - Capex of around 11% of revenue in 2026 and around 7%-8% in 2027 and 2028; - FCF margin at negative low-single digits in 2026 and improving to positive low-single digits in 2027 and 2028; - FCF applied to repay debt in 2027 and 2028; - Modest acquisitions assumed during the forecast period; - Average SOFR at 3.75% in 2026 and 3.4% in 2027. Corporate Rating Tool Inputs and Scores Fitch scored the issuer as follows, using its Corporate Rating Tool (CRT) to produce the Standalone Credit Profile (SCP): Business and financial profile factors (assessment, relative importance): management ('bb', Lower), sector characteristics ('bb', Moderate), market and competitive positioning ('bb+', Higher), diversification and asset quality ('bb', Moderate), company operational characteristics ('bb+', Moderate), profitability ('bbb-', Moderate), financial structure ('b-', Higher), and financial flexibility ('bb+', Moderate). The quantitative financial subfactors are based on custom CRT financial period parameters: 20% weight for the historical year 2025, 20% for the forecast year 2026, 30% for the forecast year 2027 and 30% for the forecast year 2028. B+ to CC considerations apply in its analysis and has no impact. The governance assessment of 'good' has no impact. The operating environment assessment of 'aa-' has no impact. The SCP is 'b+'. To derive the Long-Term IDR: Fitch made no adjustments to the SCP, resulting in an IDR of 'B+'. Recovery Analysis The recovery analysis assumes that Smyrna would be reorganized as a going-concern (GC) in bankruptcy rather than liquidated. Fitch assumed a 10% administrative claim. GC Approach The GC EBITDA estimate of $525 million reflects Fitch's view of a post-restructuring sustainable level of EBITDA on which the agency bases the enterprise value (EV). The GC EBITDA is based on Fitch's assumption that distress would arise from further weakening of the overall construction market combined with a loss of market share in key markets. Fitch estimates annual revenues of about $3.3 billion (13% below Fitch's 2026 forecast) along with EBITDA margin of around 16% (200 bps below 2025 margins and 130 bps below the 2026 forecast) would reflect the company's lower revenue base following a construction downturn and a sustainable margin profile after right sizing. Fitch applies a 6.5x GC EBITDA multiple to calculate the post-reorganization EV. The choice of the multiple considered the following factors: - Trading multiples (EV/EBITDA) for public building materials companies have ranged between 9x and 14x over the past 24 months. - Acquisitions for building materials companies have ranged from low double digits to high teens, including the recent proposed acquisition of Arcosa, Inc. by CRH plc (BBB+/Stable) for an 11.5x EBITDA multiple (including synergies). - Fitch used a 6.0x multiple to calculate the EV of Building Products Distributors, including LBM Acquisition (B-/Negative) and Park River Holdings (B-/Stable). Fitch assumes that the ABL credit facility will be about 75% drawn at the time of distress, considering potential shrinkage in the borrowing base due to contracting inventory levels and receivables during a period of weaker demand, leading to a default. The allocation of value in the liability waterfall results in a recovery corresponding to an 'RR1' for the ABL credit facility and a recovery corresponding to an 'RR2' for the first lien senior secured term loan and senior secured notes. RATING SENSITIVITIES Factors that Could, Individually or Collectively, Lead to Negative Rating Action/Downgrade - EBITDA leverage sustained above 4.8x; - (CFO-capex)/debt sustained below 2.5%. Factors that Could, Individually or Collectively, Lead to Positive Rating Action/Upgrade - EBITDA leverage sustained below 4.3x; - (CFO-capex)/debt sustained above 3%. Liquidity and Debt Structure Smyrna has a good liquidity position, supported by $320.4 million of availability under its $425 million ABL facility that matures in May 2031 and is subject to springing maturity tied to earlier-dated debt and $16.8 million of cash as of March 31, 2026. Debt maturities are well-laddered with no major maturities until November 2028, when $1.1 billion of senior secured notes come due. The next maturity is in 2029, when the company's $963 million term loan B facility matures. However, the term loan could mature in 2028 if the senior secured notes due 2028 are not refinanced. Annual principal amortization under the term loan facility is manageable at $9.8 million annually. Issuer Profile Founded in 1999, Hollingshead Holding Company, LLC (dba Smyrna Ready Mix Concrete, LLC) is the largest producer of ready-mix concrete with 565 concrete plants, 35 quarries, and 11 cement terminals, serving customers across 24 states. Summary of Financial Adjustments Fitch adds back non-recurring transaction expenses, including acquisition, integration and restructuring costs. MACROECONOMIC ASSUMPTIONS AND SECTOR FORECASTS Fitch's latest quarterly Global Corporates Sector Forecasts Monitor data file which aggregates key data points used in its credit analysis. Fitch's macroeconomic forecasts, commodity price assumptions, default rate forecasts, sector key performance indicators and sector-level forecasts are among the data items included. Climate Vulnerability Signals The results of its Climate.VS screener did not indicate an elevated risk for Smyrna Ready Mix Concrete, LLC. ESG Considerations The highest level of ESG credit relevance is a score of '3', unless otherwise disclosed in this section. A score of '3' means ESG issues are credit-neutral or have only a minimal credit impact on the entity, either due to their nature or the way in which they are being managed by the entity. Fitch's ESG Relevance Scores are not inputs in the rating process; they are an observation on the relevance and materiality of ESG factors in the rating decision. Entity/Debt Rating Recovery Prior ----------- ------ -------- ----- Smyrna Ready Mix Concrete, LLC LT IDR B+ Downgrade BB- senior secured LT BB Downgrade RR2 BB+ senior secured LT BB+ Affirmed RR1 BB+ Hollingshead Holding Company, LLC LT IDR B+ Downgrade BB- SPEYSIDE HOLDINGS: Court Extends Cash Collateral Access to Sept. 1 ------------------------------------------------------------------ Speyside Holdings LLC and affiliated debtors received seventh interim approval from the U.S. Bankruptcy Court for the Eastern District of New York to use cash collateral. Under the seventh interim order, the Debtors are authorized to use SpeyLo Holdings LLC's cash collateral only in accordance with the approved budget through September 1. As adequate protection, SpeyLo will be granted automatically perfected replacement liens on post-petition 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 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 order preserves 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 order is available at https://shorturl.at/JHzNK from PacerMonitor.com. The next hearing is scheduled for September 1, with objections due by August 26. 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. SPIRIT AIRLINES: Selects DPC Holdco as Stalking Horse Bidder ------------------------------------------------------------ Angelica Serrano-Roman of Bloomberg Law reports that Spirit Airlines has named DPC HoldCo LLC, an affiliate of Hill City Capital LP, as the stalking horse bidder for its South Florida campus under an $88 million cash offer, setting the stage for a competitive auction of one of the bankrupt airline's largest remaining real estate assets. Court filings submitted Wednesday, July 29, 2026, in the Southern District of New York show that the proposed transaction includes Spirit's corporate headquarters, office space, and supporting facilities. By selecting DPC HoldCo as the stalking horse bidder, Spirit establishes a minimum purchase price that other interested buyers must surpass. The bidding procedures provide DPC HoldCo with a termination fee and reimbursement of certain expenses should another bidder ultimately prevail at auction. Such protections are commonly granted to stalking horse bidders in Chapter 11 cases to compensate them for helping establish market value and attracting additional bids, the report relays. Spirit Airlines, once one of the largest ultra-low-cost carriers in the United States, has been disposing of real estate and other assets through its bankruptcy proceedings to generate value for creditors. The campus sale represents another significant step in the airline's ongoing liquidation efforts, according to Bloomberg. About Spirit Aviation Holdings Inc. Spirit Aviation Holdings, Inc. and its subsidiaries operate Spirit Airlines, a U.S.-based low-cost carrier providing air transportation services across the United States, Latin America, and the Caribbean. They employ approximately 25,000 direct employees and independent contractors. Spirit Aviation Holdings and its subsidiaries sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. N.Y. Lead Case No. 25-11897) on August 29, 2025. In the petition signed by Frederick Cromer, authorized signatory, Spirit Aviation Holdings disclosed $8,576,287,000 in assets and $8,096,842,000 in liabilities as of June 30, 2025. Judge Sean H. Lane oversees the cases. The Debtors tapped Davis Polk & Wardwell, LLP as bankruptcy counsel; PJT Partners LP as investment banker; FTI Consulting, Inc. as restructuring, fleet and communications advisor; Debevoise & Plimpton, LLP as fleet counsel; Morris, Nichols, Arsht & Tunnell, LLP as conflicts counsel, and Ernst & Young, LLP as its audit and tax services provider. Epiq Corporate Restructuring, LLC is the claims, noticing, solicitation and administrative agent. The U.S. Trustee for Region 2 appointed an official committee to represent unsecured creditors in the Debtors' Chapter 11 cases. The committee tapped Willkie Farr & Gallagher, LLP as legal counsel; Alton Aviation Consultancy, LLC as specialized aviation advisor; Jefferies. LLC as investment banker; and AlixPartners, LLP as financial advisor. SPOKE MEDIA: Seeks to Hire Tran Singh LLP as Attorney ----------------------------------------------------- Spoke Media Inc. seeks approval from the U.S. Bankruptcy Court for the Northern District of Texas to hire Tran Singh LLP as attorney. The firm will render these services: a. analyze the financial situation, and rendering advice and assistance to the Debtor; b. advise the Debtor with respect to its rights, duties, and powers as a debtor in this case; c. represent the Debtor at all hearings and other proceedings; d. prepare and file all appropriate petitions, schedules of assets and liabilities, statements of affairs, answers, motions and other legal papers as necessary to further the Debtor’s interests and objectives; e. represent the Debtor at the meeting of creditors and such other services as may be required during the course of the bankruptcy proceedings; f. represent the Debtor in all proceedings before the Court and in any other judicial or administrative proceeding where the rights of the Debtor may be litigated or otherwise affected; g. prepare and file a Disclosure Statement, if necessary, and Chapter 11 Plan of Reorganization; h. assist the Debtor in analyzing the claims of the creditors and in negotiating with such creditors; and i. assist the Debtor in any matters relating to or arising out of the captioned case. The firm will be paid at these hourly rates: Susan Tran Adams $550 Brendon Singh $550 Marrisa Ellison $375 Partners $500 to $650 Senior Associates $375 to $450 Associates $375 to $425 Paralegals $85 to $105 The Debtor paid the firm a retainer of $35,000. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Susan Tran Adams, Esq., a partner of Tran Singh LLP, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Susan Tran Adams, Esq. Brendon Singh, Esq. TRAN SINGH LLP 2502 La Branch Street Houston TX 77004 Tel: (832) 975-7300 Fax: (832) 975-7301 Email: bsingh@ts-llp.com About Spoke Media Inc. Spoke Media is a Dallas, Texas-based media production company founded in 2016. The company provides creative development, content production, and post-production services, with work across podcasts, stage, TV, and film. Its listed specialties include audiobooks, podcasts, audio publications, and podcast advertising. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Texas Case No. 26-42755) on June 24, 2026, with $179,919 in assets and $2,485,052 in liabilities. George Laughlin, CEO, signed the petition. Judge Mark X. Mullin presides over the case. Susan Tran Adams, Esq. at TRAN SINGH, LLP represents the Debtor as legal counsel. STUDENTROOMSTAY: Seeks Subchapter V Bankruptcy ---------------------------------------------- On July 23, 2026, StudentRoomStay International Corporation 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 owed to 200-999 creditors. The petition lists estimated assets of $0 to $50,000 and estimated liabilities of $1 million to $10 million. A meeting of creditors under Section 341(a) to be held on August 17, 2026 at 03:30 PM at UST-SVND2, TELEPHONIC MEETING. CONFERENCE LINE:1-888-330-1716, PARTICIPANT CODE:3898083. Government Proof of Claim Must Be Filed by January 19, 2027, While the Chapter 11 Subchapter V Plan Is Due by October 21, 2026. About StudentRoomStay International Corporation StudentRoomStay International Corporation is a San Luis Obispo, California-based provider of student housing and homestay placement services. The company connects international and domestic students with host families and housing providers, offering accommodation placement and related support services in the United States and other international markets. StudentRoomStay International Corporation sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Cal. Case No. 26-11063) on July 23, 2026. In its petition, the debtor reported estimated assets of $0 to $50,000 and estimated liabilities of $1 million to $10 million. The Honorable Ronald A. Clifford III handles the case. The debtor is represented by Ryan W. Beall of Beall & Burkhardt APC. SUN GIR: Trustee Taps Oliver Wyman as Financial Advisor ------------------------------------------------------- Bradley Sharp, the chapter 11 trustee of Sun Gir Incorporated, seeks approval from the U.S. Bankruptcy Court for the Central District of California to employ Oliver Wyman as his financial advisors. The firm will provide financial advisory services, including cash management, analysis of whether any additional locations should be closed, working with potential bidders to provide financial information to them, analyzing bids received to assist with the identification of a stalking horse bidder, qualification of potential overbidders, analyzing any overbids to ensure that the value of the estates' assets are maximized, and assisting in the determination of whether a plan of liquidation or conversion to a chapter 7 is in the best interests of the estates. The standard hourly rates for OW professionals are: Tim Skillman $950 Mike Gorely $525 Nick Valiga $450 Partners $795 to $1295 Directors and Managers $450 to $795 Senior Associates $375 to $450 For this engagement, they have agreed to cap the blended hourly rate at $700. OW will also seek reimbursement for reasonable and necessary expenses incurred. Oliver Wyman is a "disinterested person" within the meaning of 11 U.S.C. Sec. 101(14), according to court filings. The firm can be reached through: Tim Skillman OLIVER WYMAN 633 West Fifth St., Suite 1200 Los Angeles, CA 90071 Tel: (213) 346-5900 Email: Tim.skillman@oliverwyman.com About Sun Gir Incorporated Sun Gir Incorporated and affiliates operate 59 Carl's Jr. restaurant locations across California. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Cal. Case No. 26-11056) on April 2, 2026. In the petition signed by Harshad Dharod, president, the Debtor disclosed up to $50,000 in both assets and liabilities. Judge Scott C. Clarkson oversees the case. Eric Bensamochan, Esq., at Eric Bensamochan Law Firm, Inc. represents the Debtor as counsel. SURGERY CENTER: Moody's Cuts CFR to B3 & Alters Outlook to Stable ----------------------------------------------------------------- Moody's Ratings downgraded Surgery Center Holdings, Inc.'s ("Surgery Partners") corporate family rating to B3 from B2, and the probability of default rating to B3-PD from B2-PD. Moody's downgraded the rating on the existing senior secured first lien term loan due 2030 to B1 from Ba3, the rating on senior secured first lien revolving credit facility due 2028 to B1 from Ba3, and the rating on senior unsecured notes due 2032 to Caa2 from Caa1. There is no change to the company's SGL-1 Speculative Grade Liquidity Rating. At the same time, Moody's revised Surgery Partners' outlook to stable from negative. The downgrade reflects Moody's expectations that financial leverage will remain elevated above 7.0x for the next 12 to 18 months as Moody's expects earnings growth to slow down following industry-wide volume pressures as well as some margin deterioration. Moody's do not view recently announced divestiture of Idaho Falls surgical facilities (pending details) as a short-term deleveraging event, but Moody's anticipates it will help the company focus on ambulatory surgery center growth and can further strengthen the company's liquidity. Moody's assumes a portion of divestiture proceeds will be used to pay down debt and to finance M&A activity. The revision of the outlook to stable reflects Moody's expectations that financial leverage will remain elevated above 7.0x in the next 12-18 months. RATINGS RATIONALE Surgery Partners' B3 Corporate Family Rating (CFR) reflects the company's elevated financial leverage, driven primarily by its acquisition-oriented growth strategy. Moody's estimates Moody's-adjusted leverage was approximately 7.8x for the twelve months ended March 31, 2026. Moody's no longer adjust leverage for transaction and integration costs. Although these costs have declined significantly from 2024 levels, Moody's views the remaining expenses as recurring. The rating continues to reflect Moody's expectations that the company will prioritize growth while maintaining elevated leverage. However, Moody's expects acquisition activity to moderate in 2026 and return to historical levels in 2027 as the company focuses on accelerating ambulatory surgery center (ASC) growth following the divestiture of its Idaho Falls surgical hospital facilities. Moody's expects free cash flow generation to remain limited and near neutral, as sizable recurring distributions to physician partners continue to absorb a meaningful portion of operating cash flow. Moody's expects leverage to decline modestly but remain above 7.0x over the next 12 to 18 months. Organic revenue growth, supported by favorable pricing trends and earnings contributions from recently acquired ASCs, should support gradual deleveraging. However, Moody's expects deleveraging to be constrained by unfavorable payor mix trends, continued acquisition activity, and modest margin pressure stemming from operating cost inflation. The rating is constrained by the elective nature of many procedures performed in Surgery Partners' ASCs, which can lead patients to defer treatment during periods of economic weakness. In addition, the company's exposure to government reimbursement programs creates the risk of future reimbursement pressure. The rating benefits from Surgery Partners' strong market position and favorable industry fundamentals, as payors continue to shift procedures from hospitals to lower-cost ambulatory care settings. Growth opportunities are supported by the company's favorable case mix, which includes procedures with higher reimbursement rates, as well as ongoing investments to expand its cardiology and musculoskeletal capabilities through physician recruitment and technological enhancements, including robotic-assisted procedures. The Speculative Grade Liquidity Rating of SGL-1 reflects Moody's expectations of very good liquidity over the next 12-18 months. Surgery Partners had about $182 million of cash as of March 31, 2025, and $666 million available on its $704 million senior secured first lien revolving credit facility expiring in 2028. The revolving credit facility has a 40% springing covenant which Moody's do not expect to be tested, but Surgery Partners will have ample cushion if tested. Alternate liquidity is limited because the senior secured credit facility is secured by a first priority lien on substantially all of the company's assets. Pending details, Moody's expects the divestiture transaction to further strengthen liquidity. The outlook is stable. Moody's expects Surgery Partners' financial leverage to remain elevated above 7.0x in the next 12-18 months. The outlook also assumes the company will maintain very good liquidity. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS The ratings could be downgraded if the company's earnings weaken or there are major operational disruptions. Pursuit of an overly aggressive expansion strategy or deterioration of Surgery Partners' cash flow or liquidity could also result in a downgrade. The ratings could be upgraded if Surgery Partners adopts less aggressive financial policies and sustainably reduces debt to EBITDA below 6.0 times. Additionally, a material improvement in free cash flow would support an upgrade. Surgery Center Holdings, Inc., headquartered in Brentwood, TN, is an operator of 180 short stay surgical facilities in 30 states as of March 31, 2026. The surgical facilities, which include 161 ASCs and 19 surgical hospitals, primarily provide nonemergency surgical procedures across many specialties. The Company owns these facilities in partnership with physicians and, in some cases, health care systems in the markets and communities it serves. The Company owned a majority interest in 89 of these surgical facilities and consolidates 122 surgical facilities for financial reporting purposes. Surgery Center Holdings, Inc. also provides ancillary services including multi-specialty physician practices, urgent care facilities and anesthesia services. Surgery Center Holdings, Inc. is 39% owned by Bain Capital Private Equity, LP and listed on the NASDAQ. Revenue is approximately $3.3 billion LTM March 31, 2026. The principal methodology used in these ratings was Business and Consumer Services published in February 2026. TEDDER INDUSTRIES: Unsecureds Will Get 6.5% to 24.5% in Plan ------------------------------------------------------------ Tedder Industries, LLC filed with the U.S. Bankruptcy Court for the Southern District of Texas a Combined Disclosure Statement and Plan of Liquidation dated July 21, 2026. Tedder Industries, LLC, operating under the brand Alien Gear Holsters, is a Texas limited liability company with its principal place of business in Idaho. The company manufactures American-made, injection-molded firearm holsters and accessories, selling through institutional, business-to-business, and direct-to consumer channels. Founded in 2010 by Thomas Tedder after he designed his own holster, the business grew from a small operation into a recognized manufacturer known for hybrid leather-and-polymer holsters, modular designs, and products used by military and law enforcement organizations. To finance its operations and growth, the company obtained a $23.3 million secured loan from Main Street Capital Corporation, consisting of a $21 million term loan and a $2.3 million revolving line of credit. The company later filed for Chapter 11 bankruptcy with the goal of conducting a structured marketing and sale process supported by its secured lenders. A virtual data room and marketing materials were prepared to attract buyers. On March 17, 2026, Safariland was designated as the stalking horse bidder, and on April 1, 2026, the court approved the sale of substantially all of the company's assets. The transaction closed on April 7, 2026, with Safariland purchasing the assets for approximately $10.3 million in cash, assuming certain liabilities, and paying specified accounts receivable. After the sale, Safariland continued operating the business as a going concern by retaining former employees, working with existing vendors and suppliers, and assuming most executory contracts. As a result, only minimal unsecured and administrative claims remained to be resolved through the bankruptcy plan. Under the proposed plan: Class 3 (General Unsecured Claims): * Includes allowed unsecured claims totaling $407,550 to $1,534,915. * Claimholders will receive their pro rata share of a General Unsecured Claims (GUC) pool. * Estimated recoveries range from 6.5% to 24.5% of allowed claims. * These claims are impaired and entitled to vote on the plan. Class 5 (Existing Interests): * Existing ownership interests remain legally in place for administrative convenience. * No distributions will be made to equity holders. On the plan's effective date, all remaining assets, including estate causes of action, will transfer to the Liquidating Debtor, free and clear of claims except as otherwise provided under the plan. The Liquidating Debtor will continue to exist as a separate legal entity to administer the remaining estate, and payments required under the plan and claims reconciliation process will be funded using the debtor's available cash on hand. A full-text copy of the Combined Disclosure Statement and Plan dated July 21, 2026 is available at https://urlcurt.com/u?l=aCRh5Y from PacerMonitor.com at no charge. Tedder Industries, LLC is represented by: Jeff P. Prostok, Esq. Mary Taylor Stanberry, Esq. Vartabedian Hester & Haynes LLP 301 Commerce Street, Suite 2200 Fort Worth, TX 76102 Tel: (817) 214-4990 Emails: jeff.prostok@vhh.law mary.stanberry@vhh.law Candice M. Carson, Esq. J. Blake Glatstein, Esq. VARTABEDIAN KATZ HESTER & HAYNES LLP 2200 Ross Avenue, Suite 4200W Dallas, Texas 75201 Telephone: (469) 654-1340 Email: candice.carson@vkhh.com blake.glatstein@vkhh.com About Tedder Industries Tedder Industries, LLC, is a Texas limited liability company with a principal place of business in Idaho that operates a consumer brand manufacturing business in the firearms and accessories market, producing American-made injection-molded gun holsters for institutional purchasers, B2B partners, and direct-to-consumer channels. The company conducts business in the marketplace under the name Alien Gear Holsters and manufactures various holster types, including hybrid and modular designs, for concealed-carr users and other end markets. Tedder supplies its products to U.S. military branches, international militaries, defense organizations, and law-enforcement agencies. Tedder Industries sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Texas Case No. 25-90805) on December 8, 2025, listing between $10 million and $50 million in both assets and liabilities. Thomas Magrath, president of Tedder Industries, signed the petition. Judge Alfredo R. Perez oversees the case. Jeff Protok, at Vartabedian Hester & Haynes, LLP, is the Debtor's legal counsel. Main Street Capital Corporation, as lender, is represented by Joshua W. Wolfshohl, Esq., and Joanna D. Caytas, Esq., at Porter Hedges, LLP, in Houston, Texas. TERRAFORM POWER: Moody's Affirms 'Ba3' CFR, Outlook Remains Stable ------------------------------------------------------------------ Moody's Ratings affirmed the ratings of TerraForm Power Operating LLC (TPO), including its Ba3 corporate family rating, Ba3 senior unsecured rating, and Ba3-PD probability of default rating and Ba2 Senior Secured Bank Credit Facility rating. The rating outlook remains stable. TPO's speculative grade liquidity rating remains SGL-2. RATINGS RATIONALE "TPO's ratings affirmation reflects the company's increasing development risk as it expands its renewable energy pipeline, balanced by stable cash flow generated from a highly contracted operating portfolio supported by long-term power purchase agreements with strong offtakers," said Trevor Wood, Moody's Ratings AVP-Analyst. The Ba3 CFR incorporates TPO's portfolio of approximately 2.6 GW of contracted renewable generation assets, which provides stable and predictable cash flow through long-term power purchase agreements. The portfolio benefits from approximately 97% contracted or regulated cash flows, a weighted average contract life of around 10 years. Counterparty quality is strong, with approximately 72% of contracted revenues sourced from investment-grade counterparties. The rating also incorporates TPO's increasing exposure to development activities following its acquisition of the 4 gigawatt (GW) Sun Tribe development platform and the 1.6 GW Steward Creek solar project. Moody's expects TPO to execute approximately 230 megawatts (MW) of wind repowerings and approximately 800 MW of solar development through 2029. These projects increase business and execution risk relative to TPO's historical operating-asset-focused strategy. These risks are partially offset by the company's contract-first development strategy, reliance on project-level financing, and management's demonstrated willingness to reduce holding company leverage. The rating further reflects Moody's expectations that growth capex will be funded primarily through fully amortizing, project-level debt rather than significant incremental holding company leverage. Management expects approximately 90% of project costs to be funded through construction financing facilities, with tax equity and long-term project financing supporting the permanent capital structure. The company has also reduced leverage through recent portfolio divestitures, using sale proceeds to repay borrowings and improve financial flexibility. The stable outlook reflects Moody's expectations that TPO will continue to generate metrics consistent with the Ba3 rating, specifically a ratio of funds from operations (FFO) to gross debt of 8-10%, despite increasing development activity. Stable cash flow from the existing contracted portfolio, continued project-level debt amortization and, modest holding company leverage are expected to support the financial profile through the current investment cycle. Outlook The stable outlook reflects Moody's expectations that TPO will successfully execute its identified development plan while maintaining credit metrics consistent with the current rating, specifically funds from operations (FFO) to gross debt above 6%. Moody's expects the existing contracted operating portfolio to continue generating stable cash flow during the development cycle. The outlook incorporates Moody's expectations that growth capex will be primarily funded through fully amortizing, project-level debt rather than significant incremental holding company leverage. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS Factors that could lead to an upgrade Upward rating pressure could develop if TPO successfully executes its development strategy without materially increasing its business risk profile and sustains a ratio of FFO to debt above 11%. Factors that could lead to a downgrade Downward rating pressure could develop if TPO's development strategy materially increases its business risk profile and if its ratio of FFO to debt falls below 6% on a sustained basis. Company Profile TerraForm Power Operating LLC is a privately owned renewable energy company that owns and operates a diversified portfolio of wind and solar generation assets in North America and Europe. As of March 31, 2026, the company operated approximately 2.6 GW of renewable generation assets and was pursuing a development pipeline of utility-scale solar projects and development assets. TPO is owned by Brookfield Renewable and its institutional partners. The principal methodology used in these ratings was Unregulated Utilities and Power Companies published in August 2025. LIST OF AFFECTED RATINGS Issuer: TerraForm Power Operating LLC Affirmations: LT Corporate Family Rating, Affirmed Ba3 Probability of Default Rating, Affirmed Ba3-PD Senior Secured Bank Credit Facility, Affirmed Ba2 Senior Unsecured, Affirmed Ba3 Outlook Actions: Outlook, Remains Stable TGI FRIDAY'S: Court Confirms Joint Chapter 11 Plan of Liquidation ----------------------------------------------------------------- Judge Stacey G. Jernigan of the U.S. Bankruptcy Court for the Northern District of Texas confirmed the First Amended Joint Chapter 11 Plan of Liquidation of TGI Friday's Inc. and its affiliated debtors pursuant to section 1129 of the Bankruptcy Code. All objections to the Plan not otherwise withdrawn at or prior to the Confirmation Hearing are overruled. As shared by the Troubled Company Reporter, TGI Friday's Inc. and affiliates filed with the U.S. Bankruptcy Court for the Northern District of Texas a Disclosure Statement regarding Joint Plan of Liquidation dated February 17, 2026. Opening its first restaurant in 1965, the Company TGIF develops, operates, and franchises restaurants under an iconic American casual-dining bar-and-grill concept. The Company's restaurants are full-service locations with regionally tailored menus and full bar offerings where "People of All Stripes" can connect over handcrafted food and drink, offering classic American food and beverages, with 39 restaurant locations being owned and operated by the Company. The Company is known for bringing people together to socialize and celebrate the liberating spirit of "Friday." The Company and its franchisees operate in the branded casual dining space in the U.S., the Americas, Asia, Australasia, and the Middle East. All of these geographies have experienced recent turbulence, significantly impacting the casual dining market. Conflicts in the Middle East and Ukraine disrupted supply chains, particularly for ingredients and food products. Global inflation increased, leading to significant increases in interest rates on the Company's debt and making additional financing more difficult. In addition, these pressures led to universal pressure on individuals' finances, resulting in generally less disposable income and, therefore, less ability to dine out at casual dining establishments. On November 20, 2024, and December 6, 2024, respectively, the Bankruptcy Court entered its Order Approving (I) Bidding Procedures, the Sale Timeline, the Form and Manner of Notice Thereof; (II) Assumption and Assignment Procedures; and (III) Granting Related Relief (the "Bidding Procedures Order") and the Supplemental Order Approving (I) Bidding Procedures, the Sale Timeline, and the Form and Manner of Notice Thereof; (II) the Debtors' Entry into and Performance Under the Stalking Horse APA; (III) Assumption and Assignment Procedures; and (IV) Granting Related Relief (the "Supplemental Bidding Procedures Order" and together with the Initial Bidding Procedures Order, the "Bidding Procedures Orders"), authorizing the sale of substantially all of the Debtors' assets, including certain liquor licenses, via auction. Pursuant to the Supplemental Bidding Procedures Order, the Debtors designated Sugarloaf Concessions, LLC as a stalking horse bidder ("Sugarloaf"). The Debtors conducted an auction on December 27, 2024 (the "Auction"). At the conclusion thereof, (i) Mera Global, LLC ("Mera") was designated as the winning bidder for certain of the Debtors' assets and restaurant locations, with the stalking horse bidder, Sugarloaf, being designated the back-up bidder, and (ii) Liquor License Auctioneers Inc. (the "Auctioneers") was declared the winning bidder for certain liquor licenses (the "License Sales"). The Bankruptcy Court conducted a hearing (the "Sale Hearing") on January 2, 2025, to consider, among other things, the sale of assets to Mera (the "Mera Sale") and License Sales and subsequently approved and authorized the Mera Sale and the License Sales and entered the Order (I) Approving the Sale of Certain Assets of the Debtors Outside the Ordinary Course of Business; (II) Authorizing the Sale of Assets Free and Clear of All, Lien, Claims, Interests, and Encumbrances, (III) Authorizing the Assumption and Assignment of Certain Executory Contracts and Unexpired Leases in Connection Therewith, and (IV) Granting Related Relief on January 8, 2025. The Mera Sale closed on February 18, 2025. The total purchase price under the Mera Sale was approximately $34,500,000. The Debtors' Plan is a liquidating plan under which all of the Debtors' remaining assets will be transferred on the Effective Date to the Creditor Trust and administered by the Creditor Trustee for the benefit of Holders of Allowed Claims. Class 4 consists of General Unsecured Claims. Except to the extent that a Holder of an Allowed General Unsecured Claim against a Debtor agrees to a less favorable treatment, in full and final satisfaction, settlement, release, and discharge of, and in exchange for, each Allowed General Unsecured Claim, and only to the extent that any such Allowed General Unsecured Claim has not been paid by the Debtors prior to the Effective Date, each Holder of an Allowed General Unsecured Claim shall receive such Holder's Pro Rata share of the Creditor Trust Net Assets remaining after payment in full of all Allowed Administrative Claims, Allowed Priority Tax Claims, Allowed Other Secured Claims, Allowed Other Priority Claims, and Allowed Professional Fee Claims. Class 4 is Impaired under the Plan. Class 7 consists of Equity Interests. On the Effective Date, all Equity Interests, other than Equity Interests in TGI SPV Guarantor, LLC, shall be cancelled, released, and extinguished and shall be of no further force and effect, and Holders of Equity Interests shall not receive any distribution on account thereof and no recovery under the Plan. Class 7 Claim Holders are Impaired and will neither receive nor retain any property under the Plan on account of such Claims. As such, Holders of Class 7 Equity Interests are deemed to reject the Plan and will not receive ballots. The Creditor Trust shall be established on the Effective Date pursuant to the terms of the Creditor Trust Agreement and the Plan, and shall initially be funded with the Creditor Trust Assets. The Creditor Trust shall be established for the primary purpose of (a) liquidating, holding, managing, and distributing the Creditor Trust Assets in accordance with the terms of the Plan and the Creditor Trust Agreement, (b) winding down and administering the Debtors' Estates, including, without limitation, objecting to, resolving, reconciling, and paying or otherwise treating Claims against the Debtors in the order of priority set forth in the Plan, and (c) prosecuting, settling, abandoning, or otherwise resolving the Retained Causes of Action and distributing the Litigation Proceeds thereof in accordance with the Plan. Except as otherwise provided in the Plan or the Confirmation Order, all Cash required for the payments to be made under the Plan shall come from the Creditor Trust Assets. A full-text copy of the Disclosure Statement dated Feb. 17, 2026 is available at https://urlcurt.com/u?l=3i1NIw from PacerMonitor.com at no charge. A copy of the Court's Findings of Fact, Conclusions of Law, and Order dated July 23, 2026, is available at https://urlcurt.com/u?l=KWdU8U from PacerMonitor.com. About TGI Friday's Inc. TGI Friday's Inc., doing business as Wow Bao, operates a chain of restaurants. The Company provides appetizers, sizzlings, seafood, salads, sandwiches, entrees, desserts, and non-alcoholic and alcoholic beverages. Wow Bao serves customers in the United States. TGI Friday's Inc. filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Tex. Case No. 24-80069) on Nov. 2, 2024, listing $100 million to $500 million in both assets and liabilities. The Hon. Stacey G. Jernigan presides over the cases. Ropes and Gray LLP serves as the Debtors' general bankruptcy counsel, and Foley & Lardner LLP serves as the Debtors' co-bankruptcy counsel. Berkeley Research Group, LLC, acts as financial advisor to the Debtors. Stretto, Inc. is notice and claims agent to the Debtors. The official committee of unsecured creditors retained Pachulski Stang Ziehl & Jones LLP as its counsel, and Province, LLC, as financial advisor. THERAPY TREE: Gets Final OK to Use Cash Collateral Until Oct. 2 --------------------------------------------------------------- Therapy Tree PLLC received final approval from the U.S. Bankruptcy Court for the District of Arizona approving its emergency motion to use cash collateral. Under the final order, the Debtor is authorized to use cash collateral through October 2 to pay post-petition operating expenses in accordance with the approved budget. The budget permits an overall 20% monthly variance, but the Debtor may not pay wages or other expenses for services rendered before the petition date without a separate court order. Capital Bank, N.A. (formerly West Town Bank & Trust) holds a deed of trust and assignment of rents on the Debtor's Phoenix, Arizona property, along with a blanket lien on its personal property, securing an estimated $3.07 million SBA 7(a) loan. The Debtor also owes the SBA approximately $500,000 under an EIDL, secured by a blanket lien on its personal property that may be subordinated to Capital Bank's SBA 7(a) loan; and numerous high-interest lenders and merchant cash advance providers, which claim liens on its personal property, according to court filings. As adequate protection, secured creditors will be granted replacement liens on the Debtor's post-petition assets, with the same validity, priority, and extent as their pre-petition security interests. Change Healthcare/Optum was specifically excluded from receiving replacement liens under the order. The order preserves the rights of secured creditors to seek additional or different protection and to pursue a Section 507(b) superpriority claim if they later establish a diminution in the value of their collateral, including cash collateral, resulting from the Debtor's post-petition use. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/kSmo2 from PacerMonitor.com. About Therapy Tree PLLC Therapy Tree PLLC is a Phoenix, Arizona-based provider of pediatric multi-disciplinary rehabilitative therapy services. The company offers speech, occupational, physical, and feeding therapy for children throughout the Phoenix metropolitan area. It also participates in the sensory rooms market and continues to operate its clinical facilities while undergoing reorganization. Therapy Tree PLLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-06777) on July 10, 2026. In its petition, the Debtor reported estimated assets between $1 million and $10 million and estimated liabilities between $1 million and $10 million. Honorable Daniel P. Collins handles the case. The Debtor is represented by Steven N. Berger, Esq., and Bradley David Pack, Esq., of Engelman Berger PC. THOMAS TRIO: Court Extends Cash Collateral Access to Aug. 19 ------------------------------------------------------------ The Thomas Trio, LLC received another extension from the U.S. Bankruptcy Court for the Middle District of Florida to use cash collateral. Under the fourth interim order, the Debtor is authorized to use funds for court-approved expenses, Subchapter V trustee payments, and operating expenses listed in the latest budget, subject to a 10% variance for each line item. The order granted creditors with interests in cash collateral replacement liens, with the same validity and priority as their pre-petition liens without additional filings. Additional safeguards include insurance coverage and access to business records and premises. A continued hearing is scheduled for August 19. A copy of the court's order and the Debtor's budget is available at https://h1.nu/1AyQv from PacerMonitor.com. About The Thomas Trio LLC The Thomas Trio LLC, a company based in Zephyrhills, Florida, operates three franchise territories under the Mr. Electric brand: Mr. Electric of Land O' Lakes, Mr. Electric of Lakeland and Mr. Electric of Roswell - Alpharetta, providing electrical installation and repair services to residential and commercial customers. The company maintains franchise relationships with Neighborly and holds separate franchise obligations tied to territories including Land O Lakes, Lakeland, Riverview and Roswell. Thomas Trio filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. M.D. Fla. Case No. 26-02189) on March 20, 2026, listing assets of between $500,000 and $1 million and liabilities of between $1 million and $10 million. Melissa Thomas, president of Thomas Trio, signed the petition. Judge Luis Ernesto Rivera II oversees the case. The Debtor is represented by Scott A. Stichter, Esq., at Stichter, Riedel, Blain & Postler, PA. Amy Denton Mayer of Stichter Riedel Blain & Postler, P.A. serves as Subchapter V trustee for the Debtor. TIMBER PROS: Creditors to Get Proceeds from Liquidation ------------------------------------------------------- Timber Pros Logging, LLC filed with the U.S. Bankruptcy Court for the Northern District of Mississippi a Disclosure Statement describing Plan of Liquidation dated July 21, 2026. The Debtor is a commercial logging company based out of Iuka, Mississippi. The Debtor cut timber, loaded the logs onto trucks, and hauled those logs to various mills. The Debtor enjoyed a successful business from its inception in February 2024 before business decreased. The Debtor acquired financing for vehicles and equipment needed to successfully operate its business through multiple lenders. The Debtor suffered several mechanical equipment breakdowns, logging markets declined, and the Debtor's decision to increase staff and take on additional jobs was not profitable. At this time, the Debtor used its business judgment and made the tough decision to cease operations and liquidate its assets to pay creditors. The concept of the Plan is simple: The Debtor will be liquidating all of its assets, wind down its business for a short period of time, and then utilizing its collections and receipts that it has received, and will receive, in order to pay and satisfy the Claims of Creditors, pursuant to the priorities mandated by the Bankruptcy Code. Class 14 consists of General Unsecured Creditors. Unsecured Creditors in this case will receive, upon the final distribution in this case, all remaining cash which has not been used to pay prior classes. Class 15 consists of Equity Security Interest. The equity security interests will be cancelled, terminated, and held for naught upon the effective date of the Plan. The execution of the Plan will occur on the effective date (or upon the date the case is closed for administrative purposes whichever is later) by the distribution of all cash held by the Debtor. No funds will be paid to the equity security interests as the amount of funds on hand are insufficient to pay creditors in Classes 1 through 14 in full. A full-text copy of the Disclosure Statement dated July 21, 2026 is available at https://urlcurt.com/u?l=eAXUL2 from PacerMonitor.com at no charge. Timber Pros Logging, LLC is represented by: Craig M. Geno, Esq. Law Offices of Craig M. Geno, PLLC 601 Renaissance Way, Suite A Ridgeland, MS 39157 Telephone: (601) 427-0048 Facsimile: (601) 427-0050 Email: cmgeno@cmgenolaw.com About Timber Pros Logging Timber Pros Logging, LLC, also known as TPL Trucking, is based in Iuka, Mississippi, and transports logs, lumber, and related forest products, managing their delivery within the forest products supply chain. Timber Pros Logging, LLC filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Miss. Case No. 26-10008) on January 2, 2026, listing $1,000,001 to $10 million in both assets and liabilities. Craig M. Geno, Esq. at Law Offices Of Craig M. Geno, PLLC represents the Debtor as counsel. TIMOTHY E. RYAN: Voluntary Chapter 11 Case Summary -------------------------------------------------- Debtor: Timothy E. Ryan Home For Funerals, Inc. 145 St. Catherine Blvd. Toms River, NJ 08755 Business Description: Timothy E. Ryan Home For Funerals Inc. operates six funeral homes across Ocean County, New Jersey, with locations in Bayville, Toms River, Jackson, Seaside Park, and Lavallette. The company owns its Seaside Park and Lavallette properties, while its other locations are owned by affiliated entity Ryan Family Properties LLC. Timothy E. Ryan Home For Funerals covers the property taxes, insurance, upkeep, and maintenance expenses for the affiliate-owned locations. Chapter 11 Petition Date: July 21, 2026 Court: United States Bankruptcy Court District of New Jersey Case No.: 26-18259 Judge: Hon. Eamonn James O'Hagan Debtor's Counsel: Timothy P. Neumann, Esq. BROEGE NEUMANN FISCHER & SHAVER, LLC 25 Abe Voorhees Drive Manasquan, NJ 08736 Tel: (732) 223-8484 E-mail: timothyneumann25@gmail.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Regina O'Donnell as president. 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/E4ZXMVY/TIMOTHY_E_RYAN_HOME_FOR_FUNERALS__njbke-26-18259__0001.0.pdf?mcid=tGE4TAMA TOP QUALITY: Taps Accounting Freedom Group LLC as Accountant ------------------------------------------------------------ Top Quality Lawn and Grounds Service LLC seeks approval from the U.S. Bankruptcy Court for the District of Arizona to employ Accounting Freedom Group, LLC as its accountant. The firm will render these services: (1) perform a comprehensive cleanup and reconstruction of Debtor's accounting records from January 1, 2022, forward; (2) prepare and file delinquent business, including federal and applicable state returns (Tax Preparation Service); and (3) prepare monthly operating reports and related financial reporting, and provide other tax and accounting advice relating to this bankruptcy case (MOR reparation). The accountant will be compensated at these fees: a. AFG will perform its Accounting Services at the hourly rate of $175 per hour, provided that the total fee per task shall not exceed the capped fee rate of $3,500 per month for each tax years 2022, 2023, 2024, and 2025. b. AFG will perform its Tax Preparation Services at the flat fee rate of $3,250 for tax year 2022, and $2,750 for each of the tax years 2022, 2023, 2024, and 2025. c. AFG will perform its MOR Preparation Services billed at the rate of $175 per hour, provided that the total fee for such services in a single month shall not exceed $1,750 per month. Additionally, AFG requires a $5,000 retainer. Accounting Freedom Group, LLC is a "disinterested person" within the meaning of 11 U.S.C. Secs. 101(14) and 327, according to court filings. The firm can be reached through: Connor Quinn, CPA Accounting Freedom Group, LLC 2256 First St Apt 210 Fort Myers, FL 33901 Phone: (239) 480-5927 Email: Admin@accountingfreedomgroup.com About Top Quality Lawn and Grounds Service LLC Top Quality Lawn and Grounds Service LLC filed a Chapter 11 bankruptcy petition (Bankr. D. Ariz. Case No. 26-02613-5-JNC) on June 9, 2026. The Debtor hires Engelman Berger, P.C. as counsel. TRACES OF TIGER: Court Extends Cash Collateral Access to Aug. 25 ---------------------------------------------------------------- Traces of Tiger, Inc. received another extension from the U.S. Bankruptcy Court for the Northern District of Georgia, Gainesville Division, to use cash collateral to fund its operations. The court entered a second interim order allowing the Debtor to use cash collateral from July 30 until the final hearing on August 25 in accordance with its two-month budget, which projects total operational expenses of $86,000 for August and $86,000 for September. The Debtor was previously authorized to access cash collateral from July 22 to 28 under the court's initial order. Pursuant to the second interim order, the U.S. Small Business Administration will be granted adequate protection through a valid and automatically perfected replacement lien on post-petition property similar to its pre-petition collateral. This replacement lien does not apply to proceeds from Chapter 5 avoidance actions. The SBA asserts a blanket lien on substantially all of the Debtor's personal property, including its accounts receivable and related proceeds, which may constitute cash collateral. The amount owed to the SBA is currently unknown, and the Debtor is unaware of any other creditor asserting an interest in its cash collateral. The order expressly reserves all parties' rights to dispute the validity, priority, or extent of any asserted liens or claims. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/tu3L6 from PacerMonitor.com. The court scheduled a final hearing for August 25. Traces of Tiger operates a senior living facility under the management of Chief Executive Officer and Administrator Carlie Pennington. The Debtor filed a Chapter 11 case due to severe financial distress, including the imminent foreclosure of a default judgment lien that threatened its continued operations and its inability to meet debt service obligations. About Traces of Tiger Inc. Traces of Tiger, Inc. is a Tiger, Georgia-based operator of an assisted living facility for seniors. The company operates a 24-apartment senior living community offering independent living, personal care, and memory care services. As of July 2026, the facility remains operational at its Sterrett Road location and has sought emergency court approval to continue employee payroll and maintain banking operations during its Chapter 11 restructuring. Traces of Tiger sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-21072) on July 6, 2026. In its petition, the Debtor reported estimated assets of up to $50,000 and estimated liabilities between $1 million and $10 million. The Debtor is represented by Caitlyn Powers of Rountree Leitman Klein & Geer, LLC. Tamara Miles Ogier is appointed as Subchapter V Trustee. TRQ SALES: Fitch Alters Outlook on 'BB-' IDR to Negative -------------------------------------------------------- Fitch Ratings has affirmed TRQ Sales, LLC's (TRQ) Issuer Default Rating (IDR) at 'BB-'. Fitch has also affirmed the company's revolver and term loan at 'BB-' with a Recovery Rating of 'RR4'. The Rating Outlook has been revised to Negative from Stable. The Negative Outlook reflects a slower-than-expected deleveraging trajectory following Hurricane Melissa and temporary demand disruption in key Mexican resort markets. Fitch views these pressures as primarily driven by exogenous events rather than deterioration in the underlying operating portfolio's performance. The Outlook also incorporates the heightened execution risk associated with rebuilding the Jamaica properties and restoring demand-driven profitability in Mexico. The ratings continue to be supported by TRQ's strategic partnership with Hyatt, consistent free cash flow (FCF) generation, and attractive upscale all-inclusive business model. Key Rating Drivers Deleveraging Delayed: Fitch previously expected the issuer's EBITDA net leverage to decline from 5.4x at YE 2025 to 4.3x in 2026. However, Fitch now expects deleveraging to occur more slowly following Hurricane Melissa, which damaged the issuer's three Jamaica properties, representing about 16% of portfolio EBITDA, and after temporary demand disruption in Mexico following security-related incidents. Both events are expected to pressure near-term earnings, but operating performance should improve as the Jamaica properties reopen and ramp up, Hyatt Zilara Cancun contributes a full year of earnings after its reopening, and travel demand in Mexico normalizes. The Jamaica rebuild is expected to include meaningful property enhancements beyond simple repairs, positioning the resorts for improved operating performance upon reopening. Fitch also notes that insurance proceeds are expected to cover a substantial portion of reconstruction costs and that management has suspended distributions during the rebuild period to preserve liquidity. Fitch expects EBITDA net leverage to decline to below 4.5x by 2028 as earnings recover and recently renovated assets stabilize. Hyatt Strategic Partnership Tailwind: Hyatt's strategic partnership with TRQ strengthens the asset portfolio through an outsized footprint within Hyatt, which results in a closer relationship with the owner. Under the new Hotel Management Agreement (HMA), all non-Hyatt branded assets in the acquisition portfolio have been converted to Hyatt brands. Hyatt's team manages these assets exclusively for TRQ. This strategic alignment is anticipated to deliver material, immediate cost savings relative to Playa's previous internal management practices. TRQ owns approximately 20% of Hyatt's managed all-inclusive resorts in the Americas and is positioned to capitalize on higher margins and pricing in the U.S. and Mexican markets. The partnership is bolstered by a commitment to reinvest in its properties, enhancing the resorts' long-term competitiveness. Moreover, the collaboration leverages Hyatt's tour operators and vacation clubs, contributing significantly to TRQ's revenue. Consistent Cash Generation: TRQ is expected to generate consistent FCF, supported by EBITDA interest coverage above 2.0x, rising to about 3.0x over the forecast period. FCF margins are expected to remain in the mid- to high-single digits throughout the forecast. Fitch expects minimal dividend leakage because discretionary cash flow will be reinvested in its properties or used alongside debt to pursue new investment opportunities. This use of cash supports credit quality more than shareholder distributions. Attractive Upscale All-Inclusive Model: Relative to other lodging types, the all-inclusive model benefits from a six-month booking window, upfront payments upon booking, and pricing that covers food, beverage and lodging. This results in more predictable demand than at other lodging operators, which have shorter booking windows and greater exposure to onsite spending. All-inclusive assets also benefit from lower labor costs. TRQ's upscale price point provides some insulation from macroeconomic cycles. Consumer softness tends to emerge earlier and more sharply at lower-end chains. Diverse Geographical Footprint: While TRQ only holds all-inclusive assets, its portfolio spans the Yucatan Peninsula, Mexico (36% of 2024 EBITDA); the Pacific Coast, Mexico (15%); Jamaica (16%); and the Dominican Republic (33%). This diversification mitigates industry risks, such as hurricanes, travel advisories, geopolitical events, and bad publicity. In some cases, weakness in one market results in tailwinds for another, as consumers often switch destinations rather than cancel plans entirely. TRQ also benefits from its source markets, with 59% of guests coming from the U.S. and the rest spread out internationally. No Formal Financial Policy: The issuer has no financial leverage target. Fitch expects it to remain opportunistic in pursuing M&A that complements its asset portfolio's focus on the fragmented all-inclusive segment. However, Fitch expects the issuer to manage its balance sheet so that EBITDA net leverage returns to normalized levels, with temporary increases only for accretive M&A opportunities. Industry Cyclicality Drives Earnings Volatility: The hotel industry's cyclical nature is a key risk for TRQ. Hotels reprice their inventory daily and therefore have the shortest lease terms and the least stable cash flow of any commercial property type. Economic cycles, as well as exogenous events, have historically caused material declines in hotel revenue and profitability. Peer Analysis TRQ (BB-/Negative) is more narrowly positioned than higher-rated lodging peers. Its smaller geographical footprint, narrower asset focus and smaller scale lead Fitch to apply a tighter leverage range at the 'BB-' rating level. By contrast, Ryman Hospitality Properties (BB/Stable) benefits from greater geographic diversification and higher revenue, despite owning fewer properties. Ryman generates 60% of its EBITDA from its top three assets, while TRQ generates 40%, which indicates a higher degree of concentration risk at Ryman. TRQ, however, has higher market concentration, with 36% exposure to the Yucatan Peninsula and 33% to the Dominican Republic. In Fitch's view, these markets carry greater geopolitical and weather-related risks, including hurricanes and travel warnings. Both TRQ and Ryman have significant exposure to single brands, Hyatt and Marriott, respectively. This concentration supports customer traffic, procurement efficiency and repeat business. Ryman's large group booking exposure also gives it a longer booking window than TRQ, which supports revenue visibility. However, group bookings add cyclical risk for Ryman. TRQ has more upscale leisure exposure, which is more insulated from macroeconomic fluctuations. TRQ also benefits from its all-inclusive model, which produces higher margins and more predictable cash flow than the typical European plan model. Host Hotels & Resorts (Host; BBB/Stable) has a larger, more diversified portfolio, proven capital access and a more conservative financial policy. Fitch's leverage sensitivities for Host are 2.5x-3.0x. Host's prudent capital management and strategic growth initiatives underpin its Stable Outlook. Fitch’s Key Rating-Case Assumptions - Overall revenue per available room (RevPAR) increases 11% in 2026 mostly due to a mix shift toward the Dominican Republic and Mexico with Jamaica offline. Overall portfolio RevPAR grows at a CAGR of 6% from 2025-2029, driven by property improvements in Jamaica and Mexico, integration into the Hyatt loyalty program and management, and continued strength in the luxury segment. - Jamaica properties reopen in 2Q27 and take about 12 months to fully ramp toward material profitability. - Mexico sees a slight recovery in late 2026 with high single-digit growth in 2027 driven by a full year of Hyatt Zilara Cancun and return to normalized travel levels after the disruption in early 2026. - The Dominican Republic sees strong growth in 2026 in line with year-to-date trends, benefiting from Jamaica and Mexico headwinds. Thereafter, performance remains steady with low- to mid-single-digit growth. - Margins decline from 31% to 29% largely due to mix shift as Jamaica properties have lower margins than properties in Mexico and the Dominican Republic. - Interest rate assumptions in line with SOFR forward curve. - FCF margins in the low single digits in 2026 and between 5% to 7% thereafter. - Capital intensity of 11% in 2026 and 9% in 2027 as issuer rebuilds Jamaica properties. Fitch assumes 95% of growth capex for Jamaica assets will be offset by property insurance proceeds and includes this amount in total capital expenditure. Thereafter capital intensity remains at about 8%, composed of about half maintenance capex and half growth capex. Corporate Rating Tool Inputs and Scores Fitch scored the issuer as follows, using its Corporate Rating Tool (CRT) to produce the Standalone Credit Profile (SCP): Business and financial profile factors (assessment, relative importance): management ('bb', Moderate), sector characteristics ('b+', Moderate), market and competitive positioning ('bb-', Moderate), diversification and asset quality ('b+', Moderate), company operational characteristics ('bbb', Moderate), profitability ('bb', Higher), financial structure ('b', Higher), and financial flexibility ('bb', Moderate). The quantitative financial subfactors are based on custom CRT financial period parameters: 20% weight for the forecast year 2026, 40% for the forecast year 2027 and 40% for the forecast year 2028. The governance assessment of 'good' has no impact. The operating environment assessment of 'bb' has no impact. The SCP is 'bb-'. To derive the Long-Term IDR: Country Ceiling considerations apply and result in an adjustment of 0 notches. Recovery Analysis Fitch applies the generic approach for issuers in the 'BB' rating category and equalizes the IDR and unsecured debt instrument ratings when average recovery prospects are present, per its "Corporates Recovery Ratings and Instrument Ratings Criteria," as issuers rated 'BB-' and above are too far from default for a credible default scenario analysis to be generated, and would likely generate Recovery Ratings (RR) that are too high across all instruments. Where a Recovery Rating is assigned, the generic approach reflects the relative instrument rankings and their recoveries, as well as the higher enterprise valuation of 'BB' ratings in a generic sense for the most senior instruments. TRQ is a borrower incorporated in the U.S., which owns the equity of subsidiaries located outside of the U.S. According to Fitch's "Country-Specific Treatment of Recovery Ratings Criteria," an issuer-specific cap will be derived based on the weighted average of the caps of the countries where the economic value of that issuer's business could be realized. Fitch's criteria assigns countries into four groups. Mexico, Jamaica and the Dominican Republic are assigned to Group D, which caps the Recovery Rating at 'RR4'. Considering the IDR of 'BB-', the Category 2 first lien senior secured debt is notched at the IDR at 'BB-'/'RR4'. RATING SENSITIVITIES Factors that Could, Individually or Collectively, Lead to Negative Rating Action/Downgrade - Material delays in reopening and stabilizing TRQ's Jamaica properties, or a weaker-than-expected recovery in demand at its Mexican resorts that keeps leverage elevated for longer than Fitch expects; - EBITDA net leverage sustained above 4.5x; - EBITDA interest coverage sustained below 2.5x; - FCF margins consistently negative; - Evidence of a deteriorating relationship with Hyatt, leading to uncertainty around asset-level profitability. Factors that Could, Individually or Collectively, Lead to Positive Rating Action/Upgrade - A revision of the Outlook to Stable could occur if the issuer achieves a recovery at its Jamaican and Mexican assets, bringing EBITDA net leverage back to 4.0-4.5x. - Fitch's expectation that EBITDA net leverage will remain below 4.0x, supported by a leverage target or stated financial policy; - EBITDA interest coverage sustained above 3.0x; - Demonstrated success under new management, evidenced by increased profitability at Hyatt-managed properties; - Demonstrated success in integrating new assets and divesting non-core assets without material disruptions to leverage or profitability. Liquidity and Debt Structure As of March 31, 2026, the issuer had $87 million in cash and $55 million remaining availability on its $75 million revolving credit facility. The debt structure is simple. The issuer is expected to generate FCF margins after growth capex in the mid to high single digits, which is more than sufficient to cover its debt service costs. TRQ's $1.4 billion term loan is expected to have modest amortization of $14 million per annum consisting of quarterly $3.5 million payments beginning June 30, 2026. In the near term, TRQ's cash flow profile is supported by business interruption proceeds replacing more than half of lost EBITDA from its Jamaica properties in 2026 and 2027 and property insurance covering 90% to 95% of the total construction costs to bring Jamaica's hotels online. Issuer Profile TRQ Sales, LLC owns a portfolio of all-inclusive resorts in Mexico, Jamaica, and the Dominican Republic. The portfolio includes 14 resorts with 5,509 keys and generated $872 million in revenue as of March 2026. Summary of Financial Adjustments As part of the transaction, Hyatt made a $200 million strategic preferred equity investment rather than retaining common equity in the assets. Fitch assessed this instrument as a HoldCo PIK under Adjustment 7 of its Corporate Rating Criteria and concluded that it does not increase the probability of default of the rated entity, and therefore does not treat it as debt. Fitch applies a Country Ceiling of 'BBB+' to TRQ under its Corporate Rating Criteria. Mexico generates sufficient cash flow to cover holding company gross interest expense, resulting in an applicable Country Ceiling of 'BBB+'. The applicable Country Ceiling could decline to 'BB' if Fitch were to rely on cash flows from Jamaica to support coverage of holding company interest expense. The Country Ceiling does not affect the Foreign-Currency IDR because TRQ's Local-Currency IDR is below the applicable ceiling. MACROECONOMIC ASSUMPTIONS AND SECTOR FORECASTS Fitch's latest quarterly Global Corporates Sector Forecasts Monitor data file which aggregates key data points used in its credit analysis. Fitch's macroeconomic forecasts, commodity price assumptions, default rate forecasts, sector key performance indicators and sector-level forecasts are among the data items included. Climate Vulnerability Signals The results of its Climate.VS screener did not indicate an elevated risk for TRQ Sales LLC. ESG Considerations TRQ Sales, LLC has an ESG Relevance Score of '4' for Exposure to Environmental Impacts due to the company's material exposure to hurricanes and other extreme weather events across its Caribbean and Mexican resort portfolio. The damage sustained by its Jamaica properties following Hurricane Melissa illustrates the potential for environmental events to disrupt operations, reduce earnings and delay deleveraging. This has a negative impact on the credit profile and is relevant to the ratings in conjunction with other factors. The highest level of ESG credit relevance is a score of '3', unless otherwise disclosed in this section. A score of '3' means ESG issues are credit-neutral or have only a minimal credit impact on the entity, either due to their nature or the way in which they are being managed by the entity. Fitch's ESG Relevance Scores are not inputs in the rating process; they are an observation on the relevance and materiality of ESG factors in the rating decision. Entity/Debt Rating Recovery Prior ----------- ------ -------- ----- TRQ Sales LLC LT IDR BB- Affirmed BB- senior secured LT BB- Affirmed RR4 BB- TWO SISTERS: Voluntary Chapter 11 Case Summary ---------------------------------------------- Debtor: Two Sisters Development Corp. 860 James Dr. Lewiston NY 14092 Business Description: Two Sisters Development Corp. owns and leases real property. Chapter 11 Petition Date: July 21, 2026 Court: United States Bankruptcy Court Western District of New York Case No.: 26-10970 Judge: Hon. Carl L. Bucki Debtor's Counsel: Scott Michael Lupiani, Esq. PIERSON FERDINAND LLP 1270 Avenue of the Americas 7th Floor -- 1050 New York, NY 10020 Tel: (716) 469-2374 E-mail: scott.lupiani@pierferd.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $50,000 to $100,000 The petition was signed by Kathleen M. Lehr as president. 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/GAO2UZY/Two_Sisters_Development_Corp__nywbke-26-10970__0001.0.pdf?mcid=tGE4TAMA U.S. TELEPACIFIC: Secures Final OK for $73.5MM DIP Loan ------------------------------------------------------- Clara Geoghegan of Law360 Bankruptcy Authority reports that a Texas bankruptcy judge on Monday, August 3, 2026, granted final approval for TPx Communications' $73.5 million debtor-in-possession (DIP) financing, allowing the information technology and managed communications provider to access the full amount of the bankruptcy loan as it continues its Chapter 11 restructuring. The approval followed a settlement between the company and the official committee of unsecured creditors over the terms of the financing package. The agreement resolved objections raised by the creditors' committee, which had sought changes to certain provisions of the DIP facility, including milestones, investigation rights, and protections for unsecured creditors. With those issues addressed, the court authorized the financing, providing TPx with the liquidity needed to fund operations, pay employees and vendors, and support its restructuring efforts throughout the Chapter 11 case, according to report. TPx Communications provides managed IT, cybersecurity, cloud communications, networking, and connectivity services to business customers across the United States. The company entered Chapter 11 to restructure its balance sheet while maintaining operations, and the approved financing is expected to support business continuity as it works toward confirmation of a reorganization plan, the report cites. About U.S. Telepacific Corp. U.S. Telepacific Corp., doing business as TPx Communications, is an Austin, Texas-based managed communications services provider offering managed IT, unified communications, cybersecurity, networking, internet connectivity, cloud, and voice solutions to businesses across the United States. The company primarily serves small and mid-sized enterprises through a nationwide fiber and IP network, delivering integrated technology and communications services designed to support business operations. U.S. Telepacific Corp. and affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. 26-90625) on June 28, 2026. In its petition, the Debtor list assets of $500 million to $1 billion and liabilities of $1 billion to $10 billion. Honorable Bankruptcy Judge Alfredo R. Perez handles the case. The Debtor is represented by Ishani Patel, Esq. of Sidley Austin LLP. The restructuring team also includes Triple P TRS, LLC and Steven Shenker as financial advisor and chief restructuring officer, PJT Partners, Inc. as investment banker, Katten Muchin Rosenman LLP as special counsel, and Kroll Restructuring Administration LLC as claims agent. UNIROYAL HOLDINGS: Seeks Ch.11 Bankruptcy to Tackle Asbestos Claims ------------------------------------------------------------------- Kirk O'Neil of The Street reports that Uniroyal Holding Inc., the legacy successor to the once-prominent Uniroyal tire and rubber business, has filed for Chapter 11 bankruptcy protection as it seeks to wind down its remaining operations and resolve decades-old liabilities. The filing marks the final chapter for one of America's most recognizable tire brands, which ceased manufacturing years ago but continues to face legacy legal obligations. The Naugatuck, Connecticut-based company filed its petition on July 31, 2026 in the U.S. Bankruptcy Court for the District of New Jersey, listing estimated assets of $10 million to $50 million and liabilities of $50 million to $100 million. The company said the Chapter 11 process will be used to resolve asbestos-related personal injury and wrongful death claims, satisfy remaining retiree obligations, and distribute assets to creditors before dissolving. Court records show that 30 law firms account for the largest share of pending asbestos litigation against the company. The claims are listed as unliquidated, with Weitz & Luxenberg representing the largest number of cases at 22,754, while Wallace & Graham P.A. filed 32 claims. Since its formation more than 41 years ago, Uniroyal Holding has faced 516,656 asbestos-related personal injury and wrongful death claims. The company has resolved 216,994 cases with payments totaling nearly $500 million, while another 264,232 claims were dismissed, leaving more than 35,000 claims still pending, the report states. About Uniroyal Holding Inc. Uniroyal Holding Inc. is the corporate successor to the historic Uniroyal tire and rubber company based in Naugatuck, Connecticut. The company was established to manage legacy legal and financial obligations after Uniroyal's manufacturing operations were sold or discontinued, including asbestos personal injury claims and retiree benefit responsibilities. Uniroyal Holding Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Coe (Bankr. D.N.J. Case No. 26-18668) on July 31, 2026. In its petition, the Debtor reports estimated assets between $10,000,001 and $50 million and estimate liabilities between $50,000,001 and $100 million. Honorable Bankruptcy Judge Michael B. Kaplan handles the case. The Debtor is represented by Morris S. Bauer, Esq. of Duane Morris LLP. USA CRICKET: Trustee Taps Foley Hoag LLP as Special Counsel ----------------------------------------------------------- Mark Dennis, as Chapter 11 Trustee of USA Cricket, seeks approval from the U.S. Bankruptcy Court for the District of Colorado to hire Foley Hoag LLP as special counsel. Foley's services will include: a. advising the Trustee on labor matters in connection with the Demand for Recognition; b. representing the trustee in negotiations, mediation, arbitration, and litigation relating to labor matters that may arise in the Bankruptcy Case; and c. providing other legal services relating to labor matters that may be necessary, appropriate, and proper in connection with the Trustee's duties in the Bankruptcy Case under Section 1106 of the Bankruptcy Code or as otherwise ordered by the Court. The agreed-upon hourly rates for professionals are: Patrick Scully $750 Associates $600 In addition, the firm will seek reimbursement for expenses incurred. Patrick Scully, Esq., a partner at Foley Hoag, disclosed in a court filing that the firm is a "disinterested person" as that term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Patrick Scully, Esq. Foley Hoag LLP 1331 17th Street, Suite 600 Denver, CO 80202 Telephone: (720) 782-5080 Facsimile: (617) 832-7000 Email: pscully@foleyhoag.com About USA Cricket USA Cricket manages national team programs for men, women, and youth, administers domestic competitions, and works to grow cricket's presence across the U.S. through coaching, facilities development, and community engagement. The organization also represents the United States in ICC events and works closely with regional cricket leagues and associations. USA Cricket sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Col. Case No. 25-16381) on October 1, 2025. In its petition, the Debtor reports estimated assets between $100,000 and $500,000 and estimated liabilities between $500,001 and $1 million. Honorable Judge Michael E. Romero oversees the case. The Debtor is represented by Yanni Kakouris, Esq. VERANDA PARK: Case Summary & One Unsecured Creditor --------------------------------------------------- Debtor: Veranda Park Enterprise LLC 7065 Westpointe Blvd. Unit 140 Orlando, FL 32835 Business Description: Veranda Park Enterprise LLC is a real estate company that owns a commercial condominium unit at 7065 Westpointe Blvd. in Orlando, Florida, which has been associated with an event-related business. Chapter 11 Petition Date: July 20, 2026 Court: United States Bankruptcy Court Middle District of Florida Case No.: 26-05466 Judge: Hon. Tiffany P Geyer Debtor's Counsel: Jeffrey S. Ainsworth, Esq. BRANSON AINSWORTH PLLC 1501 E. Concord Street Orlando, FL 32803 Tel: 407-894-6834 E-mail: jeff@bransonlaw.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Michelle Margaret Carmona Drummond as manager. The Debtor listed the Orange County Tax Collector, care of Tax Collector Scott Randolph, P.O. Box 545100, Orlando, Florida 32854-5100, as its sole unsecured creditor, with a $37,080 claim for ad valorem taxes. A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/RSFDSAQ/Veranda_Park_Enterprise_LLC__flmbke-26-05466__0001.0.pdf?mcid=tGE4TAMA VERISIGN INC: Liabilities Exceed Assets by $2.3-Bil. at June 30 --------------------------------------------------------------- Verisign Inc.'s stockholder's deficit was US$2.3 billion at June 30, 2026. The stockholder's deficit was US$2.2 billion at Dec. 31, 2025. At June 30, 2026, the Company had total assets of US$1.8 billion and total liabilities of US$4.1 billion. At Dec. 31, 2025, the Company had total assets of US$1.3 billion and total liabilities of US$3.5 billion. The Company reported that its principal sources of liquidity at June 30, 2026, included US$840.9 million of cash and cash equivalents and US$193.2 million of marketable securities, for total liquid resources of US$1.0 billion, up from US$580.5 million at Dec. 31, 2025. Marketable securities primarily consist of U.S. Treasury debt securities that meet the Company's investment policy, which emphasizes preservation of capital through investment-grade instruments, while cash equivalents include money market funds, time deposits and short-term U.S. Treasury bills. As of June 30, 2026, all debt securities held had contractual maturities of less than one year, and cash and cash equivalents were readily accessible. During the three months ended June 30, 2026, the Company repurchased 0.7 million shares of common stock for an aggregate cost of US$196.8 million, and as of June 30, 2026, US$666.0 million remained authorized for future repurchases under the existing program. Effective July 23, 2026, the Board of Directors approved an additional US$884.2 million repurchase authorization, which, together with US$615.8 million remaining under the prior authorization, brought the total share repurchase capacity to up to US$1.5 billion. In the six months ended June 30, 2026, the Company paid dividends of US$147.8 million, and on July 20, 2026, the Board declared a cash dividend of US$0.81 per share, payable Aug. 27, 2026, to stockholders of record as of Aug. 19, 2026. On June 26, 2026, the Company issued US$550.0 million of new 2026 Notes, and as of June 30, 2026, it also had US$550.0 million of 2017 Notes, US$750.0 million of 2.70% senior unsecured notes issued in 2021, and US$500.0 million of 2025 Notes outstanding; on July 20, 2026, the Company used the proceeds from the 2026 Notes and cash on hand to redeem all US$550.0 million of the 2017 Notes. As of June 30, 2026, the Company had no outstanding borrowings and US$200.0 million in available capacity under its credit facility, which matures in 2028. Management stated that existing cash, cash equivalents, marketable securities, operating cash flows, and access to additional financing are expected to be sufficient to meet working capital and capital expenditure needs, fund the quarterly dividend, and service debt obligations for at least the next 12 months and beyond, and that cash requirements have not changed materially from those described in the 2025 Form 10-K. A full-text copy of the Form 10-Q is available at https://www.sec.gov/Archives/edgar/data/1014473/000101447326000028/vrsn-20260630.htm About Verisign Inc. Verisign Inc. provides critical internet infrastructure and security services, including the operation of top-level domains and related DNS services that support the stability and security of global internet addressing. The Company typically generates revenue through domain name registration and related infrastructure services and focuses on maintaining high levels of availability and resilience for its network operations. VI-JON LLC: Seeks Chapter 11 Bankruptcy with $25MM Talc Deal ------------------------------------------------------------ Vince Sullivan of Law360 Bankruptcy Authority reports that Vi-Jon LLC has entered Chapter 11 bankruptcy in Delaware, proposing to resolve talc-related injury litigation by transferring present and future claims to a trust funded with $25 million. The filing is designed to address mass tort liabilities while enabling the company to continue manufacturing and distributing its private-label consumer products. The proposed plan would establish a dedicated trust to administer and pay qualifying talc claims, replacing traditional litigation with a centralized claims-resolution process. Company officials contend the approach will provide certainty for claimants and creditors alike while reducing the costs and risks associated with prolonged litigation. Vi-Jon also requested authority to continue ordinary-course operations during the restructuring. The Chapter 11 filing seeks to resolve legacy talc liabilities while preserving the company's ongoing business. About Vi-Jon LLC Vi-Jon LLC manufactures private-label and branded personal care, health, beauty, and over-the-counter products for retailers throughout the United States. Its product portfolio includes soaps, lotions, hand sanitizers, shampoos, oral care products, and first-aid items. Vi-Jon LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 26-11216) on August 2, 2026. In its petition, the Debtor reports $1 million to $10 million in assets and $500 million to $1 billion in liabilities. Honorable Bankruptcy Judge Mary F. Walrath handles the case. The Debtor is represented by Represented By Anne G. Wallice, Esq., William E. Curtin, Esq., Chelsea McManus, Esq., Thomas Robert Califano, Esq., Jonathan E. Mitnick, Esq. of Sidley Austin LLP and Jason S. Levin, Esq., Samantha L. Rodriguez, Esq., and Eric J. Monzo, Esq. of Morris James LLP. VIRTU FINANCIAL: Fitch Affirms 'BB-' LongTerm IDR, Outlook Stable ----------------------------------------------------------------- Fitch Ratings has affirmed Virtu Financial, LLC's (Virtu) and VFH Parent LLC's Long-Term Issuer Default Ratings (IDRs) at 'BB-'. Fitch has also affirmed the senior secured debt ratings of VFH Parent LLC and Valor Co-Issuer, Inc., wholly owned debt issuance subsidiaries of Virtu, at 'BB-'. The Rating Outlook is Stable. Key Rating Drivers Established Electronic Trading Franchise: The ratings affirmation reflects Virtu's established market position as a technology-driven market maker across various trading venues, geographies and products. The ratings also recognize its adequate scale, solid operating performance, good strategic execution, and sound liquidity position. In addition, Virtu's market-neutral trading strategies in highly liquid products and short trade holding periods limit market and liquidity risk. Higher Leverage Than Peers; Operational Risks: Virtu's ratings are constrained by its modest size, higher cash flow leverage and weaker interest coverage compared to peers as well as its secured funding profile. Rating constraints applicable to market makers more broadly include elevated operational risk inherent to technology-driven trading and the reliance on trading activity for revenue generation. In 2025, Virtu finalized its SEC matter relating to 2023 allegations that it made false and misleading statements about preventing the misuse of sensitive customer information and agreed to pay a $2.5 million penalty. As a market maker, Virtu and other high-frequency traders remain exposed to regulatory and compliance risks, while its expanding geographic footprint into international markets may also lead to increased regulatory scrutiny. Improving EBITDA Margins: Virtu's adjusted EBITDA margin (calculated as adjusted EBITDA to gross revenue) was 41.1% for the trailing 12 months (TTM) ended 1Q26, up from 33.3% a year earlier and above an average of 32.9% from 2022-2025. The yoy improvement was driven by robust trading volumes and strong operating leverage and corresponds to Fitch's 'a' category quantitative benchmark range of 30% to 50% for securities firms with low balance sheet usage. Fitch expects Virtu's adjusted EBITDA margin to remain above 30% for the foreseeable future while core earnings remain supported by its scalable technology-driven platform and variable compensation structure. Strong EBITDA Drives Leverage Lower: Virtu's cash flow leverage was 1.3x for the TTM ended 1Q26, down from 1.7x a year earlier and below the 2.2x average for 2022-2025. Robust EBITDA generation reflected conducive market conditions and high trading activity across most of Virtu's product offerings. Pro forma for a planned $500 million secured Term Loan B add-on to fund organic business growth, cash flow leverage increases modestly to 1.6x. Virtu has repurchased around 50 million shares since 2020 with a combined value of $1.4 billion. Virtu does not plan further share buybacks in the near term. Fitch believes capital management focused on growth initiatives could support stronger through-the-cycle core earnings and be positive for the ratings. Secured Funding Profile: Virtu's funding profile is fully secured and comprises secured broker-dealer credit facilities, short-term bank loans and prime brokerage credit facilities to finance its mostly overnight inventory, clearing margin and settlement. Virtu had an aggregate of $549 million outstanding on the broker-dealer facilities and prime brokerage facilities as of 1Q26. Lock-up periods on margin agreements for prime brokerage facilities typically match short holding periods for trades. Corporate debt, as of March 31, 2026, was comprised of a $1.5 billion secured Term Loan B facility and $500 million in secured notes, which both mature in June 2031. Adequate Balance Sheet Liquidity: In Fitch's view, Virtu's liquidity is adequate, with liquidity resources as of 1Q26 comprising $973 million in unrestricted cash and equivalents as well as a sizable $9.3 billion portfolio of liquid trading assets, which could be liquidated and converted into cash over the short term, if needed. Virtu also has a $300 million committed revolving credit facility, which was undrawn as of March 31, 2026. Healthy Interest Coverage: Interest coverage was 11.6x for the TTM 1Q26, up from 9.9x a year earlier and an average of 8.7x for 2022 to 2025. This corresponds with Fitch's 'bbb' category benchmark range of 6x to 10x for securities firms with low balance sheet usage. Pro forma for the planned $500 million Term Loan B add-on, interest coverage declines to around 9.5x at 1Q26. Fitch expects interest coverage to be sustained within rating triggers through trading environments, which is supportive of the current rating. Stable Outlook: The Stable Outlook reflects Fitch's expectation that Virtu will maintain a low market risk profile, solid profitability margins and adequate liquidity. Furthermore, the Stable Outlook assumes that Virtu will refrain from upsizing its absolute debt level over the Outlook horizon and that cash flow leverage will remain below 3x on a gross debt to adjusted EBITDA basis. RATING SENSITIVITIES Factors that Could, Individually or Collectively, Lead to Negative Rating Action/Downgrade - Inability to maintain cash flow leverage below 3x ; - Adverse legal or regulatory actions against Virtu, which result in a material fine, reputational damage or an alteration of the business profile; - An idiosyncratic liquidity event, particularly if it is the result of a material operational or risk management failure; - A material deterioration in interest coverage, approaching 3x; - An inability to maintain Virtu's market position in the face of evolving market structures and technologies; - A material shift into trading less-liquid products or a material increase in position holding periods without a commensurate increase in the tangible equity base. Factors that Could, Individually or Collectively, Lead to Positive Rating Action/Upgrade - A strengthened franchise supported by greater business diversification and a sustained increase in net operating income; - Consistent operating performance, including EBITDA margins maintained above 30% through the cycle; - Cash flow leverage consistently below 2.0x on a gross debt/adjusted EBITDA basis; - Interest coverage sustained above 6x; - Minimal operational losses over a longer time period; - Increased funding flexibility, including the addition of a laddered, unsecured funding component and demonstrated access to third-party funding through market cycles. DEBT AND OTHER INSTRUMENT RATINGS: KEY RATING DRIVERS The senior secured debt rating is equalized with Virtu's IDR and reflects the fully secured funding profile and average recovery prospects in a stressed scenario. DEBT AND OTHER INSTRUMENT RATINGS: RATING SENSITIVITIES The senior secured debt ratings are primarily sensitive to changes in Virtu's IDR and secondarily to material changes in Virtu's capital structure and/or changes in Fitch's assessment of the recovery prospects for the debt instruments. SUBSIDIARY AND AFFILIATE RATINGS: RATING SENSITIVITIES VFH Parent LLC's Long-Term IDR is equalized with Virtu, reflecting the full ownership and unconditional guarantee on the debt issued by that entity. The ratings are expected to move in tandem. ADJUSTMENTS The Standalone Credit Profile (SCP) has been assigned in line with the implied SCP. The Business Profile score has been assigned below the implied score due to the following adjustment reason: Business model (negative). The Earnings & Profitability score has been assigned below the implied score due to the following adjustment reason: Revenue diversification (negative). The Capitalization and Leverage score has been assigned below the implied score due to the following adjustment reason: Risk profile and business model (negative). The Funding, Liquidity & Coverage score has been assigned below the implied score due to the following adjustment reason: Business model/funding market convention (negative). 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 ----------- ------ ----- VFH Parent LLC LT IDR BB- Affirmed BB- senior secured LT BB- Affirmed BB- Valor Co-Issuer, Inc. senior secured LT BB- Affirmed BB- Virtu Financial LLC LT IDR BB- Affirmed BB- WANAMAKER GROUP: Seeks Subchapter V Bankruptcy in D.C. ------------------------------------------------------ On July 23, 2026, Wanamaker Group, LLC filed for Chapter 11 protection in the U.S. Bankruptcy Court for the District of Columbia. According to court filings, the debtor reports between $500,000 and $1 million in liabilities owed to 1-49 creditors. The petition lists estimated assets of $100,000 to $500,000 and estimated liabilities of $500,000 to $1 million. A meeting of creditors under Section 341(a) to be held on August 28, 2026 at 10:00 AM US Trustee Remote 341: (888) 330-1716; Passcode: 5678318. About Wanamaker Group, LLC Wanamaker Group, LLC, doing business as Karma Construction Group, is a Washington, D.C.-based residential and commercial construction contractor. The company provides home additions, roofing, remodeling, and other construction services, primarily serving customers in the Washington metropolitan area and Bethesda, Maryland. Wanamaker Group, LLC sought protection under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.D.C. Case No. 26-00376) on July 23, 2026, with $100,001 to $500,000 in assets and $500,001 to $1 million in liabilities. Honorable Bankruptcy Judge Elizabeth L. Gunn presides over the case. Augustus Curtis, Esq., at Offit Kurman represents the Debtor as legal counsel. WATER OAKS: Unsecured Creditors to be Paid in Full over 5 Years --------------------------------------------------------------- Water Oaks Apartments LLC filed with the U.S. Bankruptcy Court for the Middle District of North Carolina a Disclosure Statement describing Plan of Reorganization dated July 21, 2026. The Debtor is a North Carolina limited liability company formed on December 2, 2021. The company owns and operates a 50-unit apartment property located at 1976 Maryland Ave, Winston-Salem, NC. The company's principals are: Srinivas Portluri – Managing Member and 50% owner; and Bulliammayi Potluri – Member and 50% owner. Property Issues and Receivership: * In spring 2024, the property became subject to city code enforcement actions. * U.S. Bank Trust Company declared the debtor in default due to both property-condition issues and monetary defaults. * As of June 2024, the property's occupancy rate was 94%. * On June 24, 2024, the lender sought the appointment of an emergency receiver, with a hearing scheduled for the next day, giving the debtor less than one day to respond. * Brown Investment Properties was appointed as receiver. * Under the receiver's management, occupancy and property performance declined: -- August 2025: Occupancy decreased to 48%, with no leasing activity. -- January 2026: Occupancy fell further to 38%, with only 19 occupied units. * Receiver reports also showed significant vacancies, uncollectible rent, increasing management and receivership costs, and declining property income. The property was scheduled for foreclosure on March 9, 2026, with the lender submitting a bid of $1,710,000. The foreclosure process included multiple upset bids: * March 19, 2026: $1,795,500. * March 30, 2026: Lender increased its bid to $2,000,000. * April 9, 2026: $2,100,000. * April 14, 2026: Lender increased its bid again to $2,205,000. On April 22, 2026, the debtor filed for protection under Chapter 11 of the Bankruptcy Code. The debtor intends to continue operating the property through a reorganization rather than liquidation. The proposed plan seeks to restructure creditor obligations to improve cash flow. The debtor included one-year projected income and expense estimates, noting they may change before plan confirmation based on negotiations, occupancy, and operating expenses. Class 6 consists of General Unsecured Claims: * These claims are proposed to be paid in full at the Federal Judgment Rate over five years. * The estimated pro rata payment is $250 per month. * Class 6 is impaired. The debtor is treated as a partnership for federal and state income tax purposes. Income, gains, losses, deductions, and credits pass through to the two members according to their ownership interests. The debtor states that payments under the plan will be funded through continued operations, which may have tax consequences for the debtor and its members. The debtor does not believe confirmation of the plan will result in significant adverse tax consequences for creditors. The plan states that the debtor believes it will be able to meet its obligations under the reorganization plan. The debtor asserts that confirmation is not expected to be followed by liquidation or the need for further financial reorganization. A full-text copy of the Disclosure Statement dated July 21, 2026 is available at https://urlcurt.com/u?l=oQRlpG from PacerMonitor.com at no charge. Counsel to the Debtor: William H. Kroll, Esq. Gaskins Hancock Tuttle Hash LLP 220 Fayetteville Street, Suite 300 Raleigh, NC 27602 Telephone: (919) 755-0025 Facsimile: (919) 755-0009 E-mail: bill@ghthlaw.com About Water Oaks Apartments LLC Water Oaks Apartments LLC is a real estate entity typically engaged in the ownership and operation of multifamily residential properties, including apartment communities. Companies of this type focus on leasing, property management, and maintaining residential housing assets. Water Oaks Apartments LLC sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D.N.C. Case No. 26-50308) on April 22, 2026. In its petition, the Debtor reports estimated assets of $1,000,000 to $10,000,000 and estimated liabilities of $1,000,000 to $10,000,000. The Debtor is represented by William Howard Kroll, Esq. of Gaskins Hancock Tuttle Hash LLP. WELCOME GROUP: Court Extends Cash Collateral Access to Nov. 1 ------------------------------------------------------------- The U.S. Bankruptcy Court for the Southern District of Ohio, Eastern Division, extended its final order allowing Welcome Group 2, LLC and its affiliates to continue to use their cash collateral to fund operations. The court extended the Debtors' authority to use cash collateral from July 13 to November 1, subject to the revised budget. The court ordered the Debtors to provide back-up documentation acceptable to RSS WFCM2019-C50 - OH WG2, LLC, the Debtors' secured lender, for the budgetary item concerning Capex prior to utilization of cash collateral for this item. The use of cash collateral is subject to the terms and conditions set forth in the final order issued on Oct. 31, 2023, any further order of the court, and reservation of rights and remedies of the secured lender under the Bankruptcy Code. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/eoixs from PacerMonitor.com. About Welcome Group 2 LLC Welcome Group 2, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S. D. Ohio Case No. 23-53044) on September 1, 2023. In the petition signed by Abhijit Vasani, as president, InnVite Opco, Inc., sole member, the Debtor disclosed up to $10 million in both assets and liabilities. Judge C. Kathryn Preston oversees the case. Denis E. Blasius, Esq., at Thomsen Law Group, LLC, represents the Debtor as legal counsel. Secured lender RSS WFCM2019-C50 - OH WG2, LLC, is represented by: Tami Hart Kirby, Esq. Walter Reynolds, Esq. Porter Wright Morris & Arthur LLP One South Main Street, Suite 1600 Dayton, OH 45402-2028 Telephone: (937) 449-6721 Facsimile: (937) 449-6820 E-mail: tkirby@porterwright.com wreynolds@porterwright.com WHITE RHINO: Unsecureds to Get Share of Income for 3 Years ---------------------------------------------------------- White Rhino Productions, Inc. filed with the U.S. Bankruptcy Court for the District of Massachusetts a Plan of Reorganization under Subchapter V dated July 21, 2026. White Rhino, formally established in 1996, is a strategic marketing and digital firm that helps organizations during critical periods such as product launches, major transformations, and repositioning efforts. The company's work centers on its proprietary B2Me behavioral framework, developed over decades and based on the principle that marketing is fundamentally a behavior-change challenge driven by predictable patterns of human psychology. The company experienced financial difficulties due to reduced revenue, increased costs, and ongoing obligations, resulting in severe cash flow constraints that required capital contributions from Greenwald. While White Rhino's small size allows it to operate efficiently and remain flexible, it also makes the business more vulnerable to disruptions than larger firms. A significant factor leading to the Chapter 11 filing was litigation initiated by a vendor seeking to attach the company's accounts, creating a threat to its operations and ability to continue as a going concern. Despite these challenges, White Rhino believes it has a viable future based on its client relationships, business pipeline, and a recent engagement with Stimcore LLC, which has generated meaningful work expected to support its restructuring efforts. The Chapter 11 filing was intended to provide the company with time to stabilize operations, reassess overhead, negotiate with its secured creditor, and develop new business opportunities while continuing normal operations. The company reported approximately $562,884.87 in filed and scheduled general unsecured claims. These claims remain subject to objection, negotiation, and final allowance or disallowance by the court. The proposed Chapter 11 plan spans three years and is designed to provide greater certainty of payment to unsecured creditors given the nature of the business, the industries it serves, and the rapidly changing technology affecting those industries. Under the plan: Class 3 (General Unsecured Claims): * Holders of allowed claims will receive quarterly payments over a three-year period beginning on the effective date. * Payments will consist of each creditor's pro rata share of the Debtor's disposable income, if any. * Disposable income is defined as income remaining after necessary expenses for operating, preserving, and continuing the business. * Distributions will be made only after payment of estate administration expenses, administrative expense claims, and priority claims. * Class 3 claims are impaired, and holders are entitled to vote on the plan. The plan will be funded through available cash at confirmation and cash flow from ongoing business operations. White Rhino expects its future revenue to be sufficient to cover operating expenses and plan payments while continuing to operate in the ordinary course of business. The plan also provides that the Debtor's future earnings will be used as necessary to carry out the restructuring. A full-text copy of the Plan of Reorganization dated July 21, 2026 is available at https://urlcurt.com/u?l=43Du6C from PacerMonitor.com at no charge. Counsel to the Debtor: Jesse Redlener, Esq. Ascendant Law Group LLC 2 Dundee Park Dr., Ste. 102 Andover, MA 01810 Telephone: (978) 393-0850 About White Rhino Productions Inc. White Rhino Productions, Inc. is a marketing and digital firm founded in 1996. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Mass. Case No. 26-10909) on April 22, 2026, with up to $500,000 in assets and up to $1 million in liabilities. Daniel Greenwald, president of White Rhino Productions, signed the petition. Jesse Redlener, Esq., at Ascendant Law Group, LLC, represents the Debtor as legal counsel. WORKFORCE RESOURCE: Gets Final OK to Use Cash Collateral -------------------------------------------------------- The U.S. Bankruptcy Court for the Central District of California, Los Angeles Division, entered a final order authorizing Workforce Resource & Management Group, LLC to use cash collateral. The Debtor's cash collateral consists of cash and proceeds of accounts receivable, subject to security interests held by creditors including Bankers Healthcare Group, Mulligan Funding, and OnDeck Capital. The final order authorized the Debtor to continue using cash collateral on the same terms and conditions established in the prior orders. This authorization remains effective from the petition date until further order of the court. The Debtor's expenditures must comply with the approved budget and are subject to a maximum 10% variance without further court approval. Under the order, the Debtor may use cash collateral, including cash and proceeds of accounts receivable in which secured creditors claim an interest, only in the ordinary course of business. The funds must be used solely for the payroll and operating expenses outlined in the approved budget. The order is available at https://shorturl.at/DbTgJ from PacerMonitor.com. About Workforce Resource & Management Group Workforce Resource & Management Group, LLC filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. C.D. Calif. Case No. 26-15733) on June 8, 2026, with $100,001 to $500,000 in assets and $500,001 to $1 million in liabilities. Judge Neil W. Bason presides over the case. Frank J. Alvarado, Esq., at Alvarado Law represents the Debtor as bankruptcy counsel. M. Douglas Flahaut serves as Subchapter V trustee for the Debtor. WORLD CLASS: Gets Extension to Access Cash Collateral ----------------------------------------------------- World Class Academy–Vero Beach LLC received another extension from the U.S. Bankruptcy Court for the Southern District of Florida to use cash collateral. Under the court order, the Debtor is authorized to use cash collateral to fund its operations until the next hearing set for September 15. The Debtor must operate in accordance with the budget during the period. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/rCq2a from PacerMonitor.com. The court scheduled a continued hearing for September 15. The Debtor has three secured creditors: Bancorp, Florida Business Development Corporation (SBA) and Blue Ridge Bank. Bancorp and SBA have not asserted a secured interest in the Debtor's cash collateral. The only institution that could claim a cash collateral interest would be Blue Ridge Bank by virtue of a UCC filing on May 13, 2022. However, while Blue Ridge Bank may claim a prior first position lien interest in the non real estate assets of the Debtor, it is a secured creditor as to the Debtor's real estate interests, and based on the value of the real estate assets, Blue Ridge Bank would be fully protected by its real estate lien, and, in any event, has little or no cash collateral interests. About World Class Academy-Vero Beach World Class Academy-Vero Beach, LLC operates in the education sector and is associated with the management and operation of academic programs and educational services. World Class Academy-Vero Beach sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 26-17446) on June 8, 2026. In its petition, the Debtor disclosed up to $10 million in both assets and liabilities. The Debtor is represented by Julianne R. Frank, PA. XEROX HOLDINGS: Sold Tariff Refund Claims to Tackle Mounting Debt ----------------------------------------------------------------- Dorothy Ma of Bloomberg Law reports that Xerox Holdings Corp. sold tariff refund claims at a discount during the second quarter to generate cash and reduce outstanding debt as the company prepares for significant debt maturities over the next several years. Management said the transaction provided immediate liquidity while supporting efforts to strengthen the company's balance sheet. During Thursday's, July 30, 2026, earnings call, Xerox disclosed that it recognized $105 million in tariff refund receivables as gross profit in the second quarter before selling those receivables to a third party for $80 million in cash. Chief Financial Officer Chuck Butler said the company quickly used a substantial portion of the proceeds to repurchase outstanding debt at a discount, lowering its future obligations. The disclosure accompanied Xerox's second-quarter earnings report, which highlighted continued restructuring initiatives aimed at improving cash flow and financial flexibility. Executives said debt reduction remains a priority as the company works through a challenging operating environment and prepares for sizable debt maturities due over the next three years, the report states. Xerox Holdings Corp. is a global provider of workplace technology, document management, and digital printing solutions. The company has been implementing cost-cutting measures, operational improvements, and balance sheet initiatives to enhance liquidity while adapting to changing demand across its printing and business services operations, according to Bloomberg. About Xerox Holdings Corp. Xerox Holdings Corporation is a company that sells print and digital document products and services, with its principal executive offices located in Norwalk, Connecticut. YSA INVESTMENTS: Seized Oklahoma Property w/o Notice, Lender Says ----------------------------------------------------------------- Yun Park of Law360 Bankruptcy Authority reports that a senior secured lender has asked a Delaware bankruptcy judge to prohibit YSA Investments 1 LLC from using rental income generated by an Oklahoma apartment complex, arguing that the debtor improperly assumed control of the property without notifying the lender or obtaining the authority required under the Bankruptcy Code. The lender contends the rents constitute its cash collateral and should remain protected during the Chapter 11 case. According to the motion, the debtor allegedly took possession of the property and began collecting rental proceeds despite the lender's perfected security interest. The creditor argues that the debtor cannot use the rents without either the lender's consent or court approval and that continued access to the funds threatens the value of its collateral. The lender is seeking an order barring YSA Investments from using the rental income until the court determines the parties' respective rights. The dispute adds to the contested matters in the debtor's Chapter 11 proceedings, where issues involving secured creditors and cash collateral are expected to play a central role, the report relays. About YSA Investments 1, LLC YSA Investments 1, LLC is a Miami, Florida-based private investment and asset management firm focused on secured lending, structured credit, and other credit investment opportunities. The company invests in and manages financial assets across a range of lending and investment strategies. YSA Investments 1, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-11178) on July 28, 2026. In its petition, the debtor reported estimated assets of $500 million to $1 billion and estimated liabilities of $500 million to $1 billion. Honorable Bankruptcy Judge Brendan Linehan Shannon handles the case. The debtor is represented by Ericka Fredricks Johnson, Esq. of Bayard, P.A. YSA INVESTMENTS: Voluntary Chapter 11 Case Summary -------------------------------------------------- Debtor: YSA Investments 1, LLC 848 Brickell Avenue Suite PH5 Miami, FL 33131 Business Description: YSA Investments 1 LLC is a private investment and asset-management firm focused on secured lending and credit opportunities, including loans backed by real property and related contractual rights. Based in Dover, Delaware, the company may enter into mortgage and assignment-of-rents agreements as part of secured financing arrangements. When authorized by applicable agreements and law following a borrower default, YSA may direct tenants to remit rent and lease payments to the company. Chapter 11 Petition Date: July 28, 2026 Court: United States Bankruptcy Court District of Delaware Case No.: 26-11178 Judge: Hon. Brendan Linehan Shannon Debtor's Counsel: Ericka F. Johnson, Esq. BAYARD P.A. 600 N. King St., Suite 400 Wilmington, DE 19801 Tel: (302) 429-4275 E=mail: ejohnson@bayardlaw.com Estimated Assets: $500 million to $1 billion Estimated Liabilities: $500 million to $1 billion The petition was signed by Aharon Diveroli as manager. 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/X4U2SXA/YSA_Investments_1_LLC__debke-26-11178__0001.0.pdf?mcid=tGE4TAMA [] Abutbul Joins DLA Piper's Global Capital Solutions Practice -------------------------------------------------------------- DLA Piper has added Kfir Abutbul as a Partner in its Global Capital Solutions practice, further advancing the growth of the firm's globally integrated Capital Solutions team. He is based in the firm's New York office. Mr. Abutbul advises private equity sponsors, credit funds, and institutional investors throughout the lifecycle of private capital investments, from acquisition and investment structuring through workouts, restructurings, and exits. His practice focuses on complex capital solutions, including participating and non-participating preferred equity, convertible instruments, holding company payment-in-kind structures, and other hybrid financing products. He also has particular experience in the energy transition and infrastructure sectors, where he has advised on transactions involving power generation, battery storage technologies, critical minerals, and decarbonization infrastructure. He has represented clients on matters across the United States, Western Europe, the Middle East, Africa, and Asia. Today, the firm also welcomed Partners Jacob Durkin to the Global Capital Solutions practice in London, and Kristine Manoukian to the Restructuring practice in New York. Mr. Durkin focuses on domestic and cross-border private credit, syndicated lending, and special situations transactions, including leveraged and acquisition financings, fund-level financings, and asset-backed transactions. Ms. Manoukian advises clients on complex creditor-side matters, distressed investments, liability management transactions, workouts, and Chapter 11 restructurings, bringing deep experience across the full spectrum of distressed situations. Alongside these partner appointments, DLA Piper has appointed Brady Lambeth as Of Counsel who worked closely with Abutbul. Based in Houston, Lambeth will join five other Of Counsels who recently joined the Capital Solutions group: Nate Sherman, Grant Ogulnick, and Alex Cavayero in New York, Henry Spalding in Boston, and George Burt in London The additions of Mr. Abutbul, Mr. Durkin, and Ms. Manoukian further cement DLA Piper's position as a leader in the rapidly evolving capital solutions market. The firm launched its Global Capital Solutions practice, with the arrival of Partners Ranesh Ramanathan and Alex Cushman in New York and Daniel Wayte in London in March of this year, and the addition of Partner Andrew Bechtel in London in June. As companies and investors seek increasingly creative financing, liquidity, and capital deployment strategies, the firm's expanding Global Capital Solutions team is uniquely positioned to deliver bespoke, cross-border solutions at scale. “Kfir, Jacob, and Kristine are outstanding additions to our firm, bringing deep experience and highly differentiated capabilities that are increasingly in demand among investors, lenders, sponsors, and companies operating in complex market environments,” said Ranesh Ramanathan, Global Head of DLA Piper’s Capital Solutions practice. “Their appointments reflect our strategic commitment to expanding a premier global capital solutions platform that delivers seamless, cross-border advice across the full range of financing and liquidity solutions, helping clients navigate complexity and capitalize on opportunities in every market cycle.” With an established presence of spanning the US, London, Hong Kong, Dubai, and other locations across Europe, Asia-Pacific, the Middle East, South America, and Africa, the team enables seamless support from cross-border investments and creative capital partnerships across developed and emerging markets worldwide. DLA Piper is one of the world's leading advisors to the global private markets ecosystem, supporting alternative capital investors across the full lifecycle of capital. From fund formation and fundraising to capital deployment, portfolio management, liquidity solutions, exits, and manager-level matters, the firm helps clients raise, deploy, manage, and monetize capital worldwide. Combining market-leading investment funds, private equity, private credit, capital solutions, finance, restructuring, tax, litigation and regulatory capabilities, DLA Piper delivers seamless, cross-border advice on sophisticated transactions spanning debt, equity, hybrid, and structured capital. With one of the industry's most comprehensive private markets platforms, the firm is uniquely positioned to help clients navigate complexity, unlock value, and execute on the most significant opportunities across global markets. [] Jackson Walker, Trustee Strike $15MM Deal in Romance Dispute --------------------------------------------------------------- Emma Cueto of Law360 Bankruptcy Authority reports that Jackson Walker LLP has reached a $15 million settlement with the U.S. Trustee Program, agreeing to overhaul its conflicts and disclosure policies in order to resolve claims tied to bankruptcy fees awarded during cases overseen by a judge who had an undisclosed relationship with one of the firm's former partners. As part of the settlement, the law firm will implement enhanced conflict review procedures, expand ethics and disclosure training, improve internal oversight, and adopt stronger reporting requirements for future bankruptcy representations. The agreement resolves allegations that the firm failed to provide complete disclosures that may have been required in cases assigned to former Judge David R. Jones, the report relays. The dispute arose after it was revealed that former Jackson Walker partner Elizabeth Freeman had a long-running romantic relationship with Judge Jones while he approved fees in numerous Chapter 11 proceedings involving the firm. By settling the matter, Jackson Walker avoids continued litigation while committing to reforms designed to strengthen transparency and compliance with bankruptcy court disclosure rules, according to report. About Jackson Walker LLP Jackson Walker LLP is a law firm. The Firm's practice areas include aviation, antitrust, bankruptcy, energy, environmental, entertainment, health care, immigration, insurance, intellectual property, international, labor and employment, real estate, and tax law. [] Marshak Joins Simpson Thacher's Capital Solutions Team --------------------------------------------------------- Simpson Thacher & Bartlett LLP announced that Stephanie Marshak has joined the Firm as a Partner in New York, where she will focus on in- and out-of-court restructuring, liability management and other debt-related matters. Mr. Marshak's arrival further strengthens the Firm's Capital Structure Solutions Practice and deepens its bench of practitioners who advise clients on some of their most complex financing transactions. "Stephanie brings exceptional experience across the full range of debt-related matters -- from leveraged and investment-grade financings to restructurings and special situations," said Alexandra Kaplan and Brian Steinhardt, Co-Heads of the Firm's Global Banking and Credit Practice. "Her technical experience in structuring and negotiating sophisticated debt transactions makes her a valuable addition to our platform." "The restructuring and liability management landscape continues to evolve, with transactions becoming more intricate and multifaceted," said Elisha Graff, Co-Head of the Liability Management and Special Situations group and Capital Structure Solutions Partner. "Stephanie's hybrid skillset—spanning finance, capital markets, liability management and restructuring will be an asset to clients navigating the current environment and looking to leverage the tools available to tackle maturities and distressed situations." Ms. Marshak counsels public and private companies, as well as hedge funds and private equity firms, on the full spectrum of debt-related matters, including in- and out-of-court restructurings, liability management exercises, special situations, leveraged and investment-grade bank and bond financings, and the debt aspects of acquisitions, divestitures and spinoffs. She also has experience advising on chapter 11 filings and reorganizations, including developing and negotiating plans, plan support arrangements, DIP financings, exit financings, 363 sales and litigation trusts. "Since launching the Capital Structure Solutions Practice earlier this year, we have built out an extraordinary team of lawyers who are best-in-class at delivering integrated, unconflicted, client first advice," said David Nemecek, Head of the Capital Structure Solutions Practice. "Stephanie's arrival continues that momentum and reinforces the breadth and depth of what we can offer clients across the entire capital structure." "Simpson Thacher has assembled a remarkable team that unites restructuring, finance and capital markets expertise under one roof in a way that few firms can match," said Ms. Marshak. "I am excited for the opportunity to work alongside practitioners of this caliber and to help clients craft solutions to their most critical capital structure decisions." Simpson Thacher's Capital Structure Solutions Practice provides a cohesive global offering and serves as a single, integrated destination for clients' capital structure needs. The Practice integrates the Firm's market-leading Restructuring and Liability Management and Special Situations teams with financing focused lawyers across Banking and Credit, Capital Markets and related practices, providing strategic judgment on its clients' most complex capital structure challenges. The Firm advises clients across the value chain, including companies, sponsors, boards, lenders, creditors and investors across the full lifecycle of their investments. [] Two New Attorneys Join Kirkland's Restructuring Group -------------------------------------------------------- Kirkland & Ellis announced that that Dan Prieto and Amanda Rush have joined the Firm as partners and will be the first members of the Firm's Restructuring Group based in Dallas. "Dan and Amanda are highly accomplished attorneys with significant experience within the mass torts arena, as well as restructuring more broadly," said Jon A. Ballis, Chairman of Kirkland's Executive Committee. "They will immediately contribute on restructuring matters across the platform, and we couldn't be more excited to welcome them to Kirkland and our Dallas office." Mr. Prieto is known within the legal world for helping design and implement strategies to address mass-tort liabilities, including many cases involving asbestos and talc claims. He advises companies and other stakeholders on complex Chapter 11 reorganizations, out-of-court restructurings and distressed M&A transactions. He has played a leading role in numerous high-profile bankruptcy matters and is one of the most experienced lawyers in the country for asbestos and other mass tort claims resolution processes in Chapter 11. Ms. Rush is also known for her significant experience resolving legacy liabilities, including asbestos and talc claims. Additionally, she advises clients on complex restructuring and insolvency matters, including Chapter 11 cases, out-of-court restructurings, cross-border insolvencies and distressed M&A transactions, and she has represented companies across a range of industries, including energy, retail, chemicals and technology. "We are thrilled to welcome Dan and Amanda as the first members of the restructuring team in Dallas," said Edward Sassower and Josh Sussberg, Kirkland restructuring partners and members of the Firm's Executive Committee. "We couldn't imagine two better hires who will fit seamlessly into both our mass torts restructuring practice as well as our recent mass tort buildout in litigation." In January 2025, Kirkland announced the hire of five new partners led by nationally renowned litigator and trial lawyer, Alli Brown, with a focus on product liability, mass torts and complex commercial litigation. This was followed in May 2025 by the addition of a 30-person product liability and mass tort litigation team led by Kristen Fournier, Kim Bueno, Morty Dubin and John Ewald. The firm now has more than 200 attorneys within its mass tort group. "I've had the privilege of working with Dan and Amanda for years," said Ms. Brown. "They are outstanding lawyers who bring significant mass tort restructuring experience to our team. They will hit the ground running and provide even more momentum to our top-tier practice." Mr. Prieto and Ms. Rush join Kirkland from Jones Day where they were partners. "Kirkland is the premier brand for sophisticated restructuring and litigation," said Mr. Prieto. "It's a perfect platform for our practice, and we're looking forward to collaborating with the terrific group of talented attorneys at the Firm." "I'm extremely excited to join Kirkland and to be part of the Firm's premier restructuring practice," said Ms. Rush. ********* On Thursdays, the TCR delivers a list of recently filed Chapter 11 cases involving less than $1,000,000 in assets and liabilities delivered to nation's bankruptcy courts. The list includes links to freely downloadable images of these small-dollar petitions in Acrobat PDF format. Each Friday's edition of the TCR includes a review about a book of interest to troubled company professionals. All titles are available at your local bookstore or through Amazon.com. Go to http://www.bankrupt.com/books/to order any title today. Monthly Operating Reports are summarized in every Saturday edition of the TCR. The Sunday TCR delivers securitization rating news from the week then-ending. TCR subscribers have free access to our on-line news archive. Point your Web browser to http://TCRresources.bankrupt.com/and use the e-mail address to which your TCR is delivered to login. ********* S U B S C R I P T I O N I N F O R M A T I O N Troubled Company Reporter is a daily newsletter co-published by Bankruptcy Creditors Service, Inc., Fairless Hills, Pennsylvania, USA, and Beard Group, Inc., Philadelphia, Pa., USA. Randy Antoni, Jhonas Dampog, Marites Claro, Joy Agravante, Rousel Elaine Tumanda, Joel Anthony G. Lopez, Psyche A. Castillon, Ivy B. Magdadaro, Carlo Fernandez, Christopher G. Patalinghug, and Peter A. Chapman, Editors. Copyright 2026. All rights reserved. ISSN: 1520-9474. This material is copyrighted and any commercial use, resale or publication in any form (including e-mail forwarding, electronic re-mailing and photocopying) is strictly prohibited without prior written permission of the publishers. Information contained herein is obtained from sources believed to be reliable, but is not guaranteed. The single-user TCR subscription rate is $1,400 for six months or $2,350 for twelve months, delivered via e-mail. Additional e-mail subscriptions for members of the same firm for the term of the initial subscription or balance thereof are $25 each per half-year or $50 annually. For subscription information, contact Peter A. Chapman at 215-945-7000. *** End of Transmission ***